COM 0354.000 2010-2012 - Laserfiche WebLink

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GROUND LEASE FOR PARKING AND STORAGE This lease is made and executed on JUN _ 2611 , by and between Lessors, OLE EIGEL JENSEN AND ELAINE MARIE JENSEN, whose mailing address is P.O. Box 390293, Keauhou, Hawaii 96739 (hereinafter referred to as "Lessors "), and Lessee, the COUNTY OF HAWAII, a municipal corporation of the State of Hawai`i, whose principal place of business and mailing address is 25 Aupuni Street, Hilo, Hawaii 96720 (hereinafter referred to as "County"). THE PARTIES AGREE AS FOLLOWS: 1. Demise, Description and Use of Premises. (a) Lessors leases to County a parcel consisting of approximately 6,000 square feet, being improved land situate at 81 -6394 Mamalahoa Highway Kona, Hawai`i, identified as Tax Map Key: (3)8- 1- 016:039 (por.) and the use of a 40 foot storage container located thereon, and delineated on the map attached hereto as Exhibit "A," (hereinafter referred to as the "subject property"), for use as parking and storage for the Department of Public Works. (b) 2. Term. (b) 3. Rent. (b) As used in this lease agreement, the term `premises" refers to the subject property described above and to any improvements located on the subject property from time to time during the term of this lease agreement. (a) The term of this lease shall be for one (1) year, commencing on August 1, 2011, and ending on July 31, 2012, thereafter on a month to month basis. After the term's expiration, the County and Lessors shall have an unconditional right to terminate this lease with no penalty upon ninety (90) days prior written notice served upon the other party. (a) Rent shall be SIX HUNDRED AND 00 /100 ($600) per month inclusive of general excise taxes. The Lessors understands that the County and this parcel will be exempt from real property taxes. -2-