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<br /> <br /> <br /> DRAFT 3: 4/28/06 <br /> <br /> no less than the monthly rent of the first five (5) <br /> years. In the event the parties fail to reach <br /> agreement, the rent shall be determined by <br /> arbitration as prescribed in the lease. <br /> <br /> OPTION TO CANCEL: County shall have an unconditional right to <br /> terminate this lease without penalty effective after <br /> three (3) years with one hundred eighty (180) days <br /> prior written notice to Landlord. <br /> <br /> RENT: Gross rent for the area leased shall be: $2.00/sq. <br /> ft./month. <br /> <br /> METHOD OF PAYMENT: Payments shall be advanced annually, based on the <br /> County's fiscal year. The first and last payments <br /> shall be adjusted according to the number of actual <br /> months leased during the respective fiscal year. <br /> <br /> BUILDING SERVICES: The following services shall be provided and <br /> included in the rent paid by the County: <br /> <br /> • Exterior building repairs and maintenance <br /> (includes, but not limited to, painting and roof <br /> repairs) <br /> • Structural repairs and repairs of damages to <br /> building not caused by County's negligence <br /> • Property insurance <br /> • Real property taxes - exempt status <br /> <br /> HAZARDOUS MATERIALS: To Landlord's current actual knowledge, the <br /> premises are free of hazardous waste. <br /> <br /> EXCISE TAX: In addition to the rent, County shall pay the Hawai'i <br /> General Excise Tax (currently 4.166%), or any <br /> successor tax, which may be payable thereon. <br /> <br /> DEPOSIT: None. <br /> <br /> OCCUPANCY: County shall be given occupancy beginning July 1, <br /> 2006, subject to approval of the Hawaii County <br /> Council and the Landlord providing additional <br /> parking as described above. If there is a delay in <br /> Landlord giving occupancy, which delays caused by <br /> events beyond the control of the County, the <br /> obligation to pay rent shall be deferred until such <br /> occupancy shall be granted in writing to County by <br /> <br /> Page 2 of 4 County Approval/Date: <br /> Landlord Approval/Date: / <br />