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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> WHEREAS, Parker Ranch has agreed to pay for one hundred <br /> <br /> percent (100%) of the water system upgrade, which were placed for <br /> its benefit; <br /> <br /> NOW, THEREFORE, BE IT AGREED THAT: <br /> <br /> 1. The County of Hawaii will construct a traffic signal <br /> system at Puukalani Street and Mamalahoa Highway intersection. <br /> <br /> 2. The County of Hawaii will construct a waterline system <br /> <br /> upgrade for Parker Ranch at that intersection. <br /> <br /> 3. Parker Ranch shall pay for twenty-five percent (25%) of <br /> the traffic signal system. <br /> <br /> 4. Parker Ranch shall pay for one hundred percent (100%) of <br /> <br /> the waterline system upgrade at the intersection. <br /> 5. The construction costs shall include, but not be limited <br /> <br /> to, engineering, design, construction administration, and <br /> <br /> construction engineering, in additional to actual construction. <br /> <br /> 6. These costs may also be subject to lump-sum payments or <br /> change orders with which Parker Ranch will be provided a copy of. <br /> <br /> 7. The County of Hawaii will bill Parker Ranch for the sum, <br /> <br /> and Parker Ranch shall remit payment to the County of Hawaii <br /> within sixty (60) days of the billing date. <br /> <br /> 8. If Parker Ranch does not remit payment on a timely basis, <br /> <br /> the County of Hawaii may attach a lien on Tax Map Key No. <br /> <br /> (3)6-7-02:017, which is the adjoining parcel that is benefitting <br /> <br /> <br /> <br /> <br /> <br /> <br /> -2- <br />