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• • <br /> 3. The minimum upset rent at auction shall be six thousand dollars per year <br /> ($6,000 /year), however, in lieu of yearly rent, the grantee, its successors <br /> and assigns shall construct, within the district commonly referred to as <br /> Pepe'ekeo and /or Kulaimano, capital improvements, at a value to be <br /> determined utilizing the contract rent and the appropriate factor from the <br /> Inwood Tables; <br /> 4. The Grantee, its successors and assigns shall be restricted to the <br /> construction of one (1) tower only on the Premises; <br /> 5. The Grantee, its successors and assigns may sublease, permit or allow <br /> others to utilize space on the tower to be constructed on the Premises, <br /> subject to consent by the County of Hawaii. <br /> 6. The Grantee, its successors and assigns shall pay to the County of Hawai'i, <br /> on a monthly or such other mutually agreed to basis, fifteen percent (15 %) <br /> of the gross compensation received by the Grantee, its successors and <br /> assigns from any sub - lessee, permittee, or user of space on the tower <br /> situate on the Premises together with an itemized statement. Information on <br /> the statement shall include but not be limited to the name of the sub - lessee, <br /> permittee or user, the monthly payment, the 15% monthly payment due to <br /> the County of Hawai'i and the total payment due to the County of Hawaii; <br /> 7. Should the Grantee, its successors and assigns, fail to permit co- location by <br /> other telecommunications companies on the tower to be built on the <br /> Premises, the County of Hawai'i reserves the right to grant and convey to <br /> others, subleases, permits or other rights to utilize space on the tower. <br /> 3 <br />