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<br /> Page 9 of 11 <br /> Bi11224, Draft 3 <br /> <br /> Hiluhilu Development, LLC <br /> wastewater and water supply svstems on terms consistent with the <br /> April 16, 2004 Memorandum of Agreement, or any subsequent <br /> amendments. Applicant shall also allow the University of Hawaii <br /> to connect electrical and telecommunication svstems to facilities <br /> installed within the proiect. Applicant shall design its projects so <br /> that the University of Hawaii shall have access through the public <br /> roads within the project for Universitv operations. <br /> 2. Build Applicant's wastewater treatment system to handle the <br /> wastewater from the initial Universitv of Hawaii building to be <br /> built on the 500 acres of State land and design the wastewater <br /> treatment system to accommodate future expansion for wastewater <br /> from future expansion of the University of Hawaii operations. <br /> 3. Build an initial classroom building of 20,000 sauare feet at <br /> Applicant's expense up to a maximum of $3,500,000 on the 500 <br /> acres of State land in close proximity to the Universitv Village on <br /> Applicant's land. The location and design of the building (interior <br /> and exterior) and related improvements will be on terms mutually <br /> acceptable to Applicant and the Universitv of Hawaii. <br /> 4. Applicant shall use its best efforts to construct and make the <br /> 20,000 square foot classroom building available for use by the <br /> Universitv prior to occupancy of the first permanent building on <br /> the proiect site. Within one year of receiving its first certificate of <br /> occupancy for buildings on its land, Applicant shall: 1) turn over <br /> the 20 000 square foot building on State land to the University of <br /> Hawaii for use. <br /> 5. Applicant shall be required to deposit into escrow the estimated <br /> cost of $5,000,000 for construction of the Universitv Center. <br /> Funds will be released to Applicant for construction of said Center <br /> as required by Applicant. The Center's drawings shall be <br /> approved by the Chancellor of Hawaii Community College before <br /> start of construction. Applicant shall post a $5,000,000 <br /> performance bond with a time limit of five (5) years. If the <br /> Universitv is unable to obtain all required permits for the Center <br /> within five (5) years, the performance bond shall be returned to <br /> Applicant and Applicant shall be released from construction <br /> requirements for the 20,000 square foot classroom building. <br /> <br />