2010-04-15_County_of_Hawaii_Motion_to_Dismiss_Counter_Claim_to_Expunge_Lis_Pendens

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r County on establishment of financial and management contracts, working with financing entities to ensure that adequate funds are made available to construct the entire project, advising the County by establishing pro forma costs and revenue projections of various options that would result in a positive cash flow, conducting various project design activities including providing updated pro forma costs versus budgets,obtaining predevelopment funding (provided by Fannie Mae and/or another financing entity) in an amount sufficient to cover the Phase If fees/monthly payments and all costs set forth in the Predevelopment Budget, and confirming that all project financing is ready to close and that land and project plans are sufficiently complete so as to commence development of the project. 31. For performing its Phase III/Predevelopment Services, UniDev was to be compensated for performing Predevelopment Services for each construction phase, subject to and limited by a Predevelopment Budget, in the amount of$40,000 per month. In addition, UniDev would be reimbursed for Reimbursable Costs up to an amount agreed upon in the Predevelopment Budget, however, in no event was UniDev's total compensation for predevelopment services to exceed an amount that, when aggregated with other fees and expenses provided for in the Predevelopment Budget, would cause the total of such fees and expenses to exceed the Predevelopment Budget. The County was to pay this amount until such time as predevelopment funding was obtained by UniDev and then such funds were to be reimbursed to the County from the Predevelopment Funding which UniDev was to obtain from third party sources. 32. During Phase IV, the Development/Construction Seriices Phase, UniDev was to,amongst other things, supervise the construction process, ensure the budgets and time schedules were met, and perform marketing tasks. 7