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. ,c~uo-u~-iu ~u:i7 8087334865 FACILI7IES* vZ P 4/6 <br /> s <br /> a. Fhe i.ash Gonh•ibution shall he paid out of Escrow and mad. payable tc <br /> rho "State of Ilawai'i; t3epartment ofl;ducation" in aeeorciance with the <br /> s <br /> following schedule: <br /> 3 <br /> a <br /> i. give thousand Five Hundred Thirty Four llollars and fitly Cents <br /> 05,535.50) payable within thirty (30) nays of`the casing and recordation ` <br /> afeach single family lot ar unit within the project. <br /> i <br /> 3 ii. 1'wo Thousand One Efundred Seventy Five Dollars ($2,I7S.00} <br /> payable within thirty (30} days of the closing and tcwrdation ai.' each <br /> _ multi-fe;nily unit within the project. <br /> 's <br /> b. Au escalation factor shrill be applied to the balance at' the Cash <br /> Contribution that remains to be paid every thirty-sir (36) months after the <br /> date of this sig!ted agreement. The escalation factor shall be based on the <br /> Over-the-Rear Percent Chattb~e in the Anntud Avetttgc t-Ionolutu Area <br /> Consumer Yricc Indox t'nr Ail items for At) Urban Consumers (CP3-U) <br /> issued by the Bureau of Labor Statistics of the Uni!ed States I~cpartment <br /> of Labor. The Annual Average CYI-Ll for the year print to the year the <br /> ~ agreement is atistted is used as the base year. Cash Contributions will be <br /> adjusted 6y the amount the most recent Annual Average CVI_[1 has <br /> increased ar decreaied over tt!e base year. - 1 v~ <br /> s ~1 <br /> c. Ca:oh Contributiont^~ sha3t be deposited in a DOS trust au:ount desigr!sted <br /> <br /> 'z1 <br /> <br /> c~> for )rALAMA]'3UI and reserved far use within the L€eatakehe Cvropiex of ~ <br /> _ SG$OOIS. <br /> IZvT'tiltSvD ~ ~fl~T1~!-1 .~C. <br /> '"~L~ (y0 t' A 5 t O ~ . <br /> 3. This Agreement shall Yx; binding upon t{II,I!HIL:II DEVEiLOPivIENT, I.LC, nr its <br /> sttccessnr in interest. <br /> 5/10/06 <br /> ' 'r: <br /> <br />