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CI GRANT OF PUBLIC ACCESS EASEMENTS THIS GRANT OF PUBLIC ACCESS EASEMENTS is made this l i7L4 day of V.&VV , 2011, by and between CONTINENTAL PACIFIC, LLC, a Delaware limited liability company, whose mailing address is Post Office Box 755, Troy, Alabama 36081, hereinafter called "Grantor ", and the COUNTY OF HAWAII, a political subdivision of the State of Hawaii, whose principal place of business and mailing address is 25 Aupuni Street, Hilo, Hawaii 96720, hereinafter called "Grantee ". W I T N E S S E I H: WHEREAS, Grantor is the developer of that certain real property situated in Pepeekeo at Kapehu, Kaupakuea, Kahua and Makahanaloa, in the District of South Hilo, County and State of Hawaii, as identified in Subdivision No. 7644- Revised (2), approved by the County of Hawaii Planning Department on May 10, 2004, Subdivision No. 04 -151, approved by the County of Hawaii Planning Department on November 15, 2005, Subdivision No. 04 -193, 0 approved by the County of Hawaii Planning Department on December 14, 2005, and Subdivision No. 05 -228, approved by the County of Hawaii Planning Department on March I* 24, 2006 (collectively the "Project " ). WHEREAS, pursuant to the provisions of Hawaii Revised Statutes Section 46 -6.5 relating to Public Access, the County of Hawaii has adopted Hawaii County Code Chapter 34 (Public Access), which provides for implementation of public access over private property in appropriate locations to the ocean, shorelines and mountain areas by requiring dedication of land for such public rights -of -way by fee or easement as a condition precedent to final subdivision approval or the issuance of a building permit for a multiple- family development where adequate public access is not already provided, including provisions requiring the County of Hawaii to be responsible for all improvement costs, liability and maintenance issues. WHEREAS, in order to assure that public access is provided within the Project to and along designated shoreline access areas, the Grantor and the Grantee hereby agree to be bound by, and to encumber the real properties identified and depicted on Exhibit A attached hereto -2-