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WHEREAS, Special Management Area Minor Permit No. 08-000093 (SMM <br /> 08-93)was approved on December 10, 2008 to allow for the consolidation and resubdivision <br /> of eight(8) lots, being the subject of SUB 08-000736, and included Condition No. 3,which <br /> required the continuation of the lateral pedestrian public access from the end of Easement 11 <br /> on the Property through Kapa'au Gulch to the western boundary of the Property. <br /> WHEREAS, in order to assure that public access is provided within the <br /> Property to and along designated shoreline access areas,the Grantor and the Grantee hereby <br /> agree to be bound by, and to encumber the real property, as more particularly described in <br /> Exhibit B attached hereto and incorporated by reference herein,by recordation of this Grant <br /> of Public Access Easement in the Office of the Assistant Registrar of the Land Court of the <br /> State of Hawaii (said"Office of the Assistant Registrar"). <br /> WHEREAS,pursuant to Subdivision No. Sub-08-000736 of applicant Ainakea <br /> Makai, LLC, a Hawaii limited liability company, Grantor's predecessor-in-interest,and <br /> Grantee,the recording of this Grant of Public Access Easement in said Office of the Assistant <br /> Registrar shall constitute full and fmal compliance with all lateral public pedestrian access <br /> requirements for the Property pursuant to Condition No. 3 of SMM 08-93 and Chapter 205A, <br /> HRS. <br /> NOW,THEREFORE,the Grantor and Grantee agree as follows: <br /> THAT the Grantor, for and in consideration of the sum of TEN AND NO/l00 <br /> DOLLARS ($10.00)paid by Grantee, the receipt whereof is hereby acknowledged, and in <br /> 249724.2 <br /> - 3 - <br />