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COUNTY OF HAWAII <br /> OFFER TO LEASE <br /> PROPOSED GENERAL TERMS AND CONDITIONS <br /> <br /> Date: December 19, 2007 <br /> To: Trask Commercial Realty, LLC. <br /> From: Hany Yada, Property Manager <br /> Subject to the approval of the Hawaii County Council, the COUNTY OF HAWATI ("County") <br /> offers to lease the premises described below from HANSEN COMMERCIAL <br /> INVESTMENTS, LLC ("Landlord"), on the following terms and conditions: <br /> AREA AND LOCATION: Approximately 3,718 s.f. of warehouse space, 225 <br /> s.f. shop office/restrooms and 288 s.f. of office <br /> space (two suites 144 s.f. each) at 73-4164 Huliko'a <br /> Street, Kailua-Kona, Hawaii 96740, Kohanaiki, <br /> North Kona, Hawaii, identified as Tax Map Key: <br /> (3) 7-3-058-038. <br /> USE OF PREMISES: The premises shall be used for the following <br /> purpose: <br /> Warehouse and office space for the County of <br /> Hawaii <br /> TERM: The term of the lease shall be for five (5) years and <br /> beginning February 1, 2008, or the date of delivery <br /> of the space to the County, whichever comes later. <br /> County shall have the option for another five (5) <br /> year term subject to mutual agreement on rent. <br /> RENT: February 1, 2008 to July 31, 2010 - $5402.00 per <br /> month. <br /> 3,718 s.f. whse x $1.18 = $4,387.25 <br /> 225 s.f. shop off/restrms x $1.63 = $ 366.75 <br /> 288 s.f. office suites x $2.25 = $ 648.00 <br /> $5,402.00 <br /> August 1, 2010 to January 31, 2013 - $5807.00 <br /> (7.5% increase) per month. <br /> EXHIBIT "A" <br /> <br />