RES 069 Draft 01 2012-2014 - Laserfiche WebLink

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LEASE THIS LEASE, made this day of , 2012, by and between the COUNTY OF HAWAII, a municipal corporation, 25 Aupuni Street, Hilo, Hawaii hereinafter referred to as the "Lessor, " and LAU RANCH, whose address is P.O. Box 1695, Kamuela, HI 96743 , hereinafter referred to as the "Lessee. " WITNESSETH: The Lessor, pursuant to Res.. ion -11, for and in consideration of the rent to be paid ® rd tithe terms, covenants and conditions herein contained, a or�the Dart of the Lessee to be kept, observed and performed, e le '` e urn,, the Lessee, and the Lessee does lease from the . : ssor he premi situate at Hamakua Hawaii, and identifis " TMK(s) (3) 4-309 024 & (3) 4-3-009 : 053 , 054, 061 & 4-3-T 1i'" •01,' .2, 064 , " cont4,9` g an area of 313 . 398 acres shown on t *map marked Exhibit "A" attached hevto and ma. r -s hereof . NOTICE: TH 3PI M S SHALL b,;T BE UTILIZED IN ANY MANNER FOR RESEARCH, DEVELOPEM T,FRODUCTI9 DR CULTIVATION OF GENETICALLY MODI =D ORGANII ( j". PRODUC _ >. TO ; E AND NO HOLD' e lease premises unto the Lessee for the term s Ten i10 ) y rs, conencing on the day of ,;v tip 20 , up to and including the da , , :1*!'' , unless sooner termi Wed as " ein tter pro- ^ . :-, the Lessor reserving and the Less;. ielding d pa - ng to the Lessor at the Department of Finance % ounty o awaf , an annual rental as provided herein below, pa le in a Vanceal thout notice or demand, in equal quarterly i Otallmen!s on k` of each and ery yea during the term as follows : A. F• ' °e first ten (10) years, the sum of eighteen thousand nine hunt d eighty DOLLARS ($ 18, 980 . 00 ) per annum. B. The annual rental reserved shall be reopened and redetermined on or before sixty (60) days prior to the expiration of the lease. C. Determination of rent upon reopening. The rental for any ensuing period shall be the fair market rental negotiated at the time of reopening. RESERVING UNTO THE LESSOR THE FOLLOWING: 1