COM 0964.024 2004-2006 - Laserfiche WebLink

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First American Title Company Attention: Ms. Zelma O. Swanson August 2006 Page 2 Properties will not occur as the result of the 'Rural' designation and has volunteered to record the enclosed executed Declaration of Restrictive Covenant upon the adoption and signing of Ordinance Bill No. 309, provided that such Ordinance in its final form includes the proposed map change F-2 of the LUPAG map designation to 'Rural' for these Properties as recommended by the Planning Director on the attached map ("F-2 to Rural"). This map is a provided for reference purposes only, and in not intended for recordation. . Please find enclosed four (4) originals of such Declaration of Restrictive Covenant, executed by my client Captain Cook Ranch LLC. This letter constitutes the irrevocable escrow instruction duly authorized by my client Captain Cook Ranch LLC. You are hereby instructed as follows: 1) This instruction is specifically conditioned upon the passage and signing into law of Ordinance Bill No. 309 (2006) amending the Hawai'i County General Plan specifically making incorporating LUPAG map change F-2 to Rural for the Properties as recommended by the Planning Director and shown on the attached map. 2) Upon receipt of such Ordinance Bill No. 309 making map change F-2 to Rural on the LUPAG map of the Hawaii County General Plan, that is adopted by the Hawai'i County Council and signed into law by the Mayor of the County of Hawai'i, you are instructed to attach such ordinance, in its entirety, as Exhibit "B" of the Declaration of Restrictive Covenant and thereupon immediately to record a duplicate original of such Declaration of Restrictive Covenant at the Bureau of Conveyances of the State of Hawaii. 3) Immediately upon recordation of the Restrictive Covenant, please deliver: i) two (2) duplicate execution originals of the Restrictive Covenant with the recordation information thereon to the undersigned, and ii) one (1) duplicate execution original of the Restrictive Covenant with the recordation information thereon to: Ms. Virginia Isbell, Council Member Hawai'i County Council 25 Aupuni St. Hilo, Hawaii 96720 4) Should such Ordinance not include amendment F-2, or should this Ordinance not be passed into law on or before November 30, 2006, then this instruction shall lapse and you are instructed to return the enclosed documents to the undersigned. c,