RES 473 Draft 01 2004-2006 - Laserfiche WebLink

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5. The County seeks to create the Waimea Trails and Greenway Pazk and needs to acquire these parcels and under the threat of condemnation have agreed to this land exchange. 6. County, Magoon and the Roman Catholic Church in the State of Hawaii joined in an application to consolidate and resubdivide Lots E, 1 and 13 so as to move boundary lines between Lot E and Lot 1 and between Lot E and Lot 13. Final Subdivision approval for said consolidation and resubdivision was granted by the County of Hawaii Planning Director on July 15, 2002 in Subdivision No. 7569. The consolidation and resubdivision resulted in the creation of Lot E-1, Lot 1-A and Lot 13- A as shown on the subdivision plat attached hereto as Exhibit D and made a pazt hereof. 7. Lot 1-A is more particularly described on the description attached as Exhibit E and made a part hereof. 8. County and Magoon wish to quitclaim to each other the portions of their respective pazcels which aze now within the resubdivided lots such that Magoon will acquire any interest of County in Lot 1-A and County will acquire any interest of Magoon in Lot E-l. To that end, County is executing this deed to quitclaim any interest it has in the land now within Lot 1-A. Magoon will be executing a corresponding deed to quitclaim any interest Magoon has in Lot E-1. The recordation of said deeds is to occur simultaneously, it being the intent of County and Magoon to achieve a simultaneous like- kind exchange of real property under Section 1031, Internal Revenue Code of 1986, amended. That Grantor, for and in consideration of the sum of ONE DOLLAR ($1.00) to it paid by Magoon, hereinafter called the Grantee, the receipt whereof is hereby jyk\land\inMP&QExchDeedCOHMagoon040406 3