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<br /> <br /> <br /> <br /> <br /> <br /> COUNTY OF HAWAII <br /> OFFER TO LEASE <br /> PROPOSED GENERAL TERMS AND CONDITIONS <br /> <br /> Date: April 30, 2006 <br /> <br /> PTC Partners <br /> 44-224 Malae Place <br /> Kaneohe, HI 96744 <br /> <br /> Attention: Carol A. VanCamp, Ala Kai Realty, Inc. <br /> <br /> Subject to the approval of the Hawaii County Council, the COUNTY OF HAWAI'I ("County") <br /> offers to lease the premises described below from PTC Partners ("Landlord"), on the following <br /> terms and conditions: <br /> <br /> AREA AND LOCATION: Approximately 14,822 (7,540 square feet of office <br /> space and approximately 7,282 square feet of <br /> warehouse space) at Puainako Center, Building C, <br /> 2100 Kanoelehua Avenue, Hilo, Hawaii. The actual <br /> square footage and location of the premises shall be <br /> determined by agreement prior to the execution of <br /> the lease by Landlord and County. <br /> <br /> USE OF PREMISES: The premises shall be used for the following <br /> purpose: <br /> <br /> Office and storage space for the County of Hawaii. <br /> <br /> TERM: The term of the lease shall be five (5) years <br /> beginning July 1, 2006 or upon completion of the <br /> parking lot expansion in the rear of building C by <br /> the Landlord, whichever occurs later and ending <br /> five (5) years later. With the county's approval, the <br /> lease start date may occur prior to the completion of <br /> the parking lot. <br /> <br /> OPTION TO CANCEL: County and Landlord shall have an unconditional <br /> right to terminate this lease with no penalty <br /> effective after three (3) years with one hundred <br /> eighty (180) days prior written notice. <br /> <br /> RENT: Net rent for the office area leased shall be $1.75/sq. <br /> ft. per month for the first three (3) years. Rent for <br /> the fourth and fifth (4`h & 5`h) years shall be <br /> <br /> <br /> C:000UME-11GTOMIOCALS-11TemplPuainako060501 F inalOffecdoc <br />