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<br /> <br /> <br /> <br /> <br /> <br /> <br /> T hr Pdr,cipa! and Svj'eEy aye field and finoiy bomid orrto'ihe Courity ofh`awaii, a <br /> municipal corporation of the State of Hawaii and/or its applicable agencies, departments, boards, <br /> <br /> commissions, officers and employees (hereinafter collectively called the Obligee), their <br /> successors and assigns for the Connector Road - Phase 3 Roadway lmprovements in the full and <br /> <br /> just sum of FOUR MILLION FIVE HUNDRED SEVEN THOUSAND AND NO/100 <br /> DOLLARS ($4,507,000.00) for the payment of which to the said Obligee, its successors and <br /> assigns, well and truly to be made, we do hereby bind ourselves and our respective heirs, <br /> <br /> executors and administrators, assigns and/or successors, jointly and severally firmly by these <br /> presents. <br /> <br /> <br /> THE CONDITION OF THIS OBLIGATION IS SUCH THAT: <br /> <br /> WHEREAS, the Principal, as Subdivider, has submitted for approval to the Planning <br /> Department of the County of Hawaii, hereinafter called the "Planning Department", copies of <br /> <br /> preliminary subdivision plat maps in SUB NO. 2004-0221 and SUB NO. 06-000279 showing the <br /> subdivision of land. <br /> <br /> WHEREAS, the Principal and the Obligee have agreed that the Principal shall construct <br /> <br /> the Connector Road - Phase 3 Roadway Improvements pursuant to the terns of the Agreement <br /> (Connector Road - Phase 3 Roadway Improvements) entered into contemporaneous herewith; <br /> <br /> and <br /> <br /> WHEREAS, the Principal, the Surety and the Obligee have agreed to the projected costs <br /> of construction for the Connector Road - Phase 3 Roadway Improvements, and have agreed to <br /> <br /> utilize these projected costs as the monetary security for this Bond and the Agreement; and <br /> <br /> WHEREAS, construction plans showing details of road construction, drainage structures, <br /> and all other applicable utilities and improvements proposed to be installed or constructed by the <br /> <br /> said Principal for the Connector Road - Phase 3 Roadway Improvements shall be submitted to <br /> and approved (as applicable) by the Planning Department, the Department of Water Supply, and <br /> <br /> the Department of Public Works, which said construction plans shall be made a part of this Bond <br /> the same as though set forth herein; and <br /> <br /> <br /> <br /> 4817-7141-2737.1 -2- <br />