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Applicant shall obtain aright-of--way from the Department of Land <br /> and Natural Resources to build the section of Road "4" that is within <br /> the land to the north of the project that is owned by the State of <br /> Hawaii (that section may be referred to as Road "4A"). Applicant <br /> shall build Road "4A" at its expense, but Applicant is not responsible <br /> for the purchase of said road right-of--way. <br /> <br /> (b) Road 4B. <br /> (1) Applicant shall use its best efforts to obtain the land for the road <br /> right-of--way from the private owner of the land through which the <br /> upper portion of Road "4" runs to its intersection with the <br /> Mamalahoa Highway (that section may be referred to as Road "4B"). <br /> "Best efforts" do not require that Applicant purchase said land. If <br /> Applicant is not able to obtain said right-of--way within one (1) yeaz <br /> of the approval of the Project District Ordinance, and the County <br /> wishes to proceed with construction of Road "4B", the County will <br /> acquire the land for said right-of--way within one (1) year after <br /> Applicant notifies the County that it is not able to obtain said land. <br /> (2) Applicant will build Road "4B" under the terms described <br /> below. <br /> (3) The County agrees to reimburse Applicant for the cost of <br /> designing and building Road "4B" within three (3) years of its <br /> completion and to pay an amount equivalent to eight percent (8%) <br /> per year on such cost from and after the period following completion <br /> of Road "4B". The cost to Applicant and resultant reimbursement <br /> shall not exceed $10,300,000 plus the eight percent (8%) per year <br /> 10 <br /> <br />