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with the current quarry lease, which terminates on September 30, 2037.” Particularly on the part <br />of Parker Ranch side, who has been doing several revisions of their legal entities based upon <br />various tax interest reasons. <br /> <br />But, with that, I think we both, we have both Nahua and Jason available for your questions. <br /> <br />UNGER: Great. Thank you. Any questions by the Commissioners? <br /> <br />CARR SMITH: Steve, can you just repeat the change one more time? So, striking — <br /> <br />LIM: Okay, it would, we would strike the words “between PR Mauna Kea LLC and WHC, <br />Ltd.,” and then I would add in between, just before that, between the words “current” and <br />“lease,” add “quarry.” So it would be, “coterminous with the current quarry lease, which <br />terminates on September 30, 2037.” <br /> <br />CARR SMITH: Thank you. <br /> <br />UNGER: And, can you clarify again the reason? Is this lease between PR Mauna Kea and West <br />Hawai‘i Concrete? <br /> <br />LIM: That’s the current lease, yes. <br /> <br />UNGER: Oh, okay. <br /> <br />CARR SMITH: So this just – sorry – this just allows you to assign the lease, right? <br /> <br />LIM: That’s correct. If, if Parker Ranch Inc. decides for whatever reason they have to change <br />the landowning entity, because they have kind of a complicated tax and trust structure, we could <br />do that without having to come back through the whole process all over again. <br /> <br />CARR SMITH: So it’s more for the benefit of the landowner than the lessee. <br /> <br />LIM: Yes. <br /> <br />SHIMAOKA: And the lessee agrees to that, I’m assuming? <br /> <br />MACY: What’s that? <br /> <br />SHIMAOKA: The current language that he just mentioned, yeah? <br /> <br />MACY: Yeah, yeah. <br /> <br />SHIMAOKA: Okay. <br /> <br />MACY: West Hawai‘i is good with that. <br /> <br />6 <br />EXHIBIT B <br /> <br />