RES 244 Draft 03 1996-1998 - Laserfiche WebLink

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al. SMALL -LOT SUBDIVISION. "Small -lot Subdivision" shall mean the subdivision by OCEANSIDE of the Property into lots less than twenty (20) acres in size. (3), herein. am. STATE. "State" shall mean the State of Hawaii. an. TERM. "Term" shall mean the term of this Agreement as determined in Paragraph ao. UNIT OF CREDIT. "Unit of Credit" shall mean the present value of past or future payments or contributions, including, but not limited to the dedication of land or construction of roadway improvements toward the cost of existing or future public facility capital improvements being issued in lieu of payment for Segment(s) of the Right -of -Way. One (1) Unit of Credit shall be issued for each $3,101.68 value of land contributed toward the Bypass Highway. The value of the unit of credit shall be equivalent to the amount of roadway fair share contribution or road impact fee required to be paid for each dwelling or lodge unit at the time of redemption. The recipient of a Unit of Credit may redeem the Unit of Credit toward any roadway fair share contribution or toward any roadway impact fee should the COUNTY adopt such an impact fee ordinance. ap. ZONING CODE. "Zoning Code" shall mean HCC chapter 25 as it exists as of the date of this Agreement. aq. OTHER DEFINITIONS. Unless otherwise provided herein, other words and terms shall have the meaning set forth in the Zoning Code. To the extent that the definitions in the Zoning Code conflict with the definitions contained in this Agreement, the definitions in this Agreement shall be controlling. 3. EFFECTIVE DATE; TERM. The Term of this Agreemeng t shall commence on the effective A ri s date of the Enacting Resolution and shall terminate on [MONTH. DAY. YEARI, 130 years from date of Enacting Resolution] unless sooner terminated: a. By agreement of the parties to this Agreement that the parties have satisfied all of the terms and conditions of this Agreement, as further evidenced by a resolution of the County Council pursuant to Paragraph (50), herein; provided that, OCEANSIDE has been reimbursed for the construction costs it incurred for the Bypass Highway pursuant to. Paragraph (15); or b. As a result of a material breach of OCEANSIDE pursuant to Paragraph (25), herein; C. By cancellation of this Agreement pursuant to Paragraph (27), herein; or unless subsequently extended by mutual agreement of the COUNTY and OCEANSIDE; or d. By reimbursement of construction costs for the Bypass Highway paid to OCEANSIDE pursuant to Paragraph (15), herein; provided, however, that the parties to this Agreement have 9