RES 157 Draft 01 2012-2014 - Laserfiche WebLink

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LEASE THIS LEASE, made this day of 2013 , by and between the COUNTY OF HAWAII, a municipal corporation, 25 Aupuni Street, Hilo, Hawai ' i hereinafter referred to as the "Lessor, " and ABBA' s Garden LLC. , whose address is PO Box 914 , Kamuela, HI 96743 , hereinafter referred to as the "Lessee. " WITNESSETH: The Lessor, pursuant to Resolution 38-11, for and in consideration of the rent to be paid and of the terms, covenants and conditions herein contained, all on the part of the Lessee to be kept, observed and performed, does lease unto the Lessee, and the Lessee does lease from the Lessor the premises situate at Paauilo, Hawaii, and identified as " (3) 4-3-007 : 001 " containing an area of 92 acres, as shown on the map marked Exhibit "A" attached hereto and made parts hereof . NOTICE: THE PREMISES SHALL NOT BE UTILIZED IN ANY MANNER FOR RESEARCH, DEVELOPEMENT PRODUCTION OR CULTIVATION OF GENETICALLY MODIFIED ORGANISM (GMO) PRODUCTS. TO HAVE AND TO HOLD the leased premises unto the Lessee for the term of Ten (10) years commencing on the 1st day of October , 2013 , up to and including the 30th day of September , 2023 , unless sooner terminated as hereinafter provided, the Lessor reserving and the Lessee yielding and paying to the Lessor at the Department of Finance, County of Hawai ' i, an annual rental as provided herein below, payable in advance, without notice or demand, in equal quarterly installments on _ January 1st, April 1St, July 1St, October 1st of each and every year during the term as follows : A. For the first ten (10) years, the sum of Ten Thousand Five Hundred Eighty Five 41/100 DOLLARS ($10, 585 .41) per annum with an option of two additional ten (10) year terms . B. The annual rental reserved shall be reopened and re-determined 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. 1