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HomeMy WebLinkAboutRES 092 Draft 01 2002-2004 COUNTY OF HAWAII STATE OF HAWAII RESOLUTION NO. 92 03 RESOLUTION AUTHORIZING THE ABANDONMENT AND DISPOSITION OF A ROADWAY RESERVE SITUATED AT PU'UANAHULU HOMESTEADS, NORTH KONA, HAWAII, BEING A PORTION OF TAX MAP KEYS:(3)7-1-005-020, 022, 027, AND 062. BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII: WHEREAS, that segment of a paper roadway reserve located at Pu`uanahulu, North Kona, Hawaii, starting at Mamalahoa Highway, proceeding westward and abutting Tax Map Keys:(3)7-1-005-020 , 022, 027, and 062 (see Exhibit "A" attached), exists only on paper and is therefore not in use, nor usable for transportation purposes for the general public; and WHEREAS, available evidence indicates that this road was a roadway reserve and part of the Pu'uanahulu Homestead Road abandoned by the County in 1998 under Resolution 286-98, and Communication 891 (see Exhibit "B"); and WHEREAS, Resolution 286-98 further disposed of Pu'uanahulu Homestead Road to the Big Island Country Club Estates, except for the remaining remnant portions abutting Tax Map Keys:(3)7-1-005-020, 022, 027, and 062; and WHEREAS, the title to such roadway is unclear and the County may only quitclaim its interest to another; and WHEREAS, this road is not under the jurisdiction of the State Department of Transportation and may be deemed a County highway pursuant to Hawaii Revised Statutes Section 264-1; and WHEREAS, the subject parcel is a roadway reserve and is economically undesirable to develop or utilize as a separate unit due to its shape and location and is considered to be a remnant pursuant to Section 2-110, Hawaii County Code; and WHEREAS, all County highways once established, continue until vacated, closed, abandoned or discontinued by resolution of the Council; and WHEREAS, the subject parcel is described as a .877 acre (38,202 square feet) "paper road" abutting several properties owned separately by Rick Robinson and Big Island Country Club Estates, and further described and delineated in Exhibit "A"; and WHEREAS, upon contacting the abutting property owners, Rick Robinson desires to acquire the portion of the remnant roadway reserve abutting his property, and the Big Island Country Club Estates has declined; and WHEREAS, pursuant to Section 2-111, Hawaii County Code, the Council may direct the Director of Finance or the Director of Public Works to dispose of real property in fee simple; and WHEREAS, pursuant to Section 2-118, Hawaii County Code, remnants or portions thereof may be disposed of without recourse to public auction and shall be first offered for sale to the abutting landowners; and WHEREAS, pursuant to Section 2-118(c), Hawaii County Code, an appraisal (see Exhibit "C" attached), of the .877 acre (38,202 square feet) roadway reserve remnant was done, which appraisal valued the remnant at FIVE THOUSAND SEVEN HUNDRED AND NO/100 DOLLARS ($5,700.00); and WHEREAS, pursuant to Section 2-118(d), Hawaii County Code, disposition costs may be added to the sales price, less recognized costs of the buyer. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII, that said portion of the roadway reserve remnant from Mamalahoa Highway proceeding westward and abutting Tax Map Keys:(3) 7-1-005-020 , 022, 027, and 062 is hereby abandoned and discontinued as a County highway. BE IT FURTHER RESOLVED that the Director of Finance is authorized to sell the aforementioned remnant without recourse to public auction in a manner consistent with Section 2-118, Hawaii County Code. BE IT FINALLY RESOLVED that the County Clerk shall transmit a copy of this resolution to (1) the Honorable Harry Kim, Mayor of the County of Hawaii; (2) William Takaba, Director of Finance; (3) Bruce McClure, Director of Public Works; and (4) G. Rick Robinson, P. O. Box 430, Kealakekua, Hawaii 96750. Dated at: ,Hawaii, this day of , '2003. INT UCED Y: r CUt.~t~-~ COUNCIL MEMBER, COUNT OF HAWAI' COUNTY COUNCIL ROLL CALL VOTE County of Hawaii Hilo, Hawaii AYES NOES ABS EX ARAKAKI I hereby certify that the foregoing RESOLUTION was by CFiUNG the vote indicated to the right hereof adopted by the ELARIONOFF COUNCIL of the County of Hawaii on HoLSCHUH ATTEST: ~ACOasoN REYNOLDS SAFARIK TYLER Reference C-307~P?J&IP~C COUNTY CLERK CHAIRMAN h PRESIDING OFFICER RESOLUTION NO. 92 O3 ROAD RESERVE (25-FEET WIDE) HOMESTEAD ROADWAY LAND SI1 UATED AT PUUANAHULU HOMESTEADS NORTH KONA, HAWAII, HAWAII BEING A PORTION OF GOV ERNMENT LAND AT PUUANAHULU HOMESTEADS Beginning at a set rebar-cap in concrete at the Southeast corner of this 25-feet wide Road Reserve, being the Northeast corner of Lot 27-A, along the Westerly side of the North Kona Belt Road at Puuanahulu, the coordinates of said point of beginning referred to Government Survey Triangulation Station "PUU PANINI" being 2,085.73 feet South and 2,295.73 feet East and running by azimuths measured clockwise from True South: Thence, along Lot 27-A, a portion of Grant 7548 to Harry Haiha for the following four (4) courses; 1 . 137° 59' 00" 89.47 feet to a found pipe in concrete; 2. ] 28° 18' 00" 418.60 feet to a set rebar-cap; 3. 126° 24' 00" 496.25 feet to a found pipe; 4. 143° 40' 20" 156.1 1 feet to a set rebar-cap; Thence, along Lot 27-B, a portion of Grant 7548 to Harry Haiha for the following two (2) courses; 5. 143° 40' 20" 297.57 feet to a found nail set in top of rock wall; 6. 143° 1 I' 47" 115.61 feet to a point; 7. 225° OS' S4" 25.25 feet along the remainder of the old 25-feet wide Road Reserve (Old Homestead Road) to a point; Thence, along Lot 26 [TMK: (3) 7-] -05:22] for the following two (2) courses; 8. 323° 11' 47" 119.35 feet to a point; -lof2- DON McINTOSH CONSULTING, INC. TMK: (3) 7-1-OS:27 & 62 P. O. Box 58 Kailua-Kona, Hawaii 96745-0058 JOB NO: 2812-00 EXHIBIT "A" 9 323° 40' 20" 269.39 feet to a point; Thence, along Lot 26-A-1 for the following three (3) courses; 10. 323° 40' 20" 180.50 feet to a point; 11. 306° 24' 00" 492.87 feet to a point; 12. 308° 18' 00" 424.97 feet to a point; Thence, along the Westerly side of the North Kona Belt Koad, along a curve to the left having a radius of 925.00 feet, the chord azimuth and distance being; 13 334° 15' S5" 91.47 feet to the point of beginning and containing an area of 0.877 acre. c~P~,p C. Mci,I,TO DON McINTOSH CONSULTING, INC. ~ LICENSED N / ~ PROFESSIONAL S i/)///-/,~. C.• LANG SURVEYOR No. 4968 onald C. McIntosh, L. P. L. S. #4968 ygwAil USP Consultant-Planner, Developments Kailua-Kona, Hawaii December 1, 2001 Rl?VISED December 6, 2001 NOTE: The above description was prepared from a ground survey of the roadway and the compiled records of the adjoining parcels. -2of2- DON McINTOSH CONSULTING, INC. TMK: (3) 7-] -05:27 & 62 P. O. Box 58 Kailua-Kona, Hawaii 96745-0058 JOB NO: 2812-00 tl,~° ~ t r~ W,. r 'p' w PA ~ks8 d SEi RERAR d C4P FOUND PIPE ~ I sou Dl ~ ~P ,~-D~D Roaowar - Blcc ~P°`" o~` 1~ % s t 43.11'4!" 225.06'9a" 25.25 Sps~' 116.61 LOT 27-B ~ ~ 123. 11'41" 119.35 SEi "PK" NAIL IN HOCK aT FENCE CORNER 143.4D'20"~ 297.57 / / 32]•a0'20" SET REBAR / 269.39 c sDE lot /(y/// SET REBAR d CAP / 323'40'20" 180.50 143.40'20" 156.11 ~ SET "PN" NAIL AT TOP OF SQUARE IWf WOOD FENCE POST Fouuo PIPE LOT 26-A-1 -ROAD RESERVE 0.077 ACRES 126.24'00" 496.25 FDU ND PIPE AT FENCE CORNER LOT 27-A ~ FOUND PIPE I ~ 306.24'00" 492.07 saE ID ~ FOUND PIPE SET REBAR AT FENCE CORNER I SOLIDI ~ CS OLIDt FOUND PIPk- (60LIOI 129.18'00" 418.60 ~ /SEi BOLT IN DIRT ROAD SET REBAR ~ (SOLIDI ISOLIDI L SEi SPIKE FOUND PIPE ~ IN A.C. ISOLIDI ~ ~ ~ Opp ~-708'18'00" 42a.9T ~ / e \ ~9OLIDPIE ~ ~ w 9ET SPINE 0 IN A.0. 1 R'S9'00' 89.Ii P~314. 15'55" 91.47 SET REBAR d CAP 02 ~ IN CONCRETE ~ ~ q, zoe s.73 Fr. so~m ~ ~9 S. QO M A P S H O W I N G 2295.73 Ft East ~ ~ Ref: ^PUUPANINI"~ i ROADWAY RESERVE (25-FEET WIDE) HOMESTEAD ROADWAY sET °PK' "Aa AT PUUANAHULU HOMESTEADS IN ROCK 326.OT'20" 171''e NORTH KONA, HAW AII,HAW All PORTION OF TM K: 7-1-05.20. 27 AND 62 C. M~~ T O E1CE1gSEU Da The ~Wengnea n«my certifva to / PROFFSSIONQ 1 Yv beN of Na We/nNOnal knoNedge, 7 Nlomwtbn aM bNkl, tMt llYx map and IAND IM wrvWY on vMCh If u busd cM r4C tly 6URVEYOR # Nwv4 lM boundary 6n~ and major Don Mclnlosq Surveyor ~ 4880 rovWmenU a on paty. Don McIntosh Consulting Hq Wnn ~s?- do9nalzol Fezs66, 16=3e P.O. Box 5B, Kalua-None. Hewed 9s74SU05B Donald C. McNtoM, L.P.L6.^ D4rE lvmiol (BD6) 326-]02 Ora.mg~ 2BR OI.DGN of°-sQip ij i - -r ~ Y ~I ~i c i s °.,~y 3 a ~ ~ ~ ~ b a ~ II n~yY IO~\ III j i t ~rl~' ~ _ ~ ~ I, ~ ~,ar ~ ~ ~;i ~ ~ ~ ~ fiJ ,fir ;1 ~ e i~ ° i! ~ `S ^ ilk ~4 1 ~ F'P u l.~ 1 -L~~ '~C ~ 0 1 ~ o i~ . \ / \ ie o /I I q > ~ A / -.a ~ n \ / \y ~ r : r ~ ~ . ~ . ~ ~ , r ~ ~ ~ ~ ~jl u ~ ~ ~ ~ I ~ i ~r ~ I ~ / ~ ~ ? ~ ai/ o, ~ ~ ~ F 'i ~ ~ ° +I` i~3 ya e o ' ''!?f!'!! i d f~ 9 ~a _ - _ ~ - - ~ a=~~ ~t . h 1 ~.~1. r ~ ~ ~ ~ / F ' ~ OFFICE OF THE COUNTY CLERK J _ I HAWAII COUNTY BUILDING COUNTY OF HAWAII 24 A8:~~ HILO, HAWAII 96720 July 22, 1998 ;~UieTY 0,~= SAW;; ~.-i_ OF PUBLIC WO~r`, Refer. Comm. 891 Res. 286-98 PWPC-111 To: Corporation Counsel Richard D. Wurdeman Resolution Authorizing the Abandonment and Quitclaim of Remnants Re: at Puuanahulu Homesteads, North Kona, Hawaii, to the Big Island Country Club Estates Limited Parthership, Tax Map Key (3)7-1-OS:Paper Fvads. The following is the action of the Hawaii County Council adopted at its meeting held July 15 1998 Approve and adopt Committee on Public Works and Parks Report No. 111. (Res. 286-98 was adopted) COUNT~/CLERK cc: Chief Engineer Mayor ~~D t ,i EXHIBIT "B" REPORT OF THE COMMITTEE ON PUBLIC WORKS AND PARKS DATE: June 30, 1998 RE: COMM. NO. 89l /RESOLUTION NO. 286-98 PLACE: Councilroom TIME: 9:00 a.m. Chair and Members Hawaii County Council Hilo, Hawaii 96720 Your Committee on Public Works and Pazks, to which was referred Communication No. 891, and attached Resolution No. 286-98, reports as follows: The purpose of Resolution No. 286-98 is to authorize the abandonment and quitclaim of remnants at puuanahulu Homesteads, North Kona, Hawaii, (Tax Map Key (3) 7-1-OS:Paper Roads) to the Big Island Country Club Estates Limited Partnership. Communication No. 891 is from Deputy Corporation Counsel Gerald Takase dated June 16, 1998, requesting the Council's review and consideration of the resolution authorizing the abandonment and quitclaim of remnants at Puuanahulu Homesteads, North Kona, to the Big Island Country Club Estates Limited Partnership. Mr. Takase states that a previous agreement had been reached with the State, which allowed the development of the golf course. However, the State has since reconsidered its position and now believes the County is the proper body to dispose of the property. Mr. Takase further clarified for Your Committee that Big Island Country Club had submitted payment in the sum of $34,500.00 to the State Department of Land and Natural Resources. If this resolution is adopted, the funds will be transferred to the County. Your Committee is in accord with the purpose and intent of Resolution No. 286-98, and recommends its adoption. la AYES NOES A&E EX Respectfully submitted YAGONG X CO MITTEE ON PUBLIC WORKS & PARKS REYNOLDS X ~ CHUNG 3C - LECtHEAD-TODD X DO INIC YAGO RAY X PW&PC REP 'T O. 111 SAMANGELO X SMITH X ADOPTED: JUL 15 1998 ARAKAKI E.O.M. X ~z, COUNTY OF HAWAII STATE OF HAWAII RESOLUTION N0. 286 g8 RESOLUTION AUTHORIZING THE ABANDONMENT AND QUITCLAIM OF REMNANTS AT PWANAHULU HOMESTEADS, NORTH KONA, HAWAII, TO THE BIG ISLAND COUNTRY CLUB ESTATES LIlvIITED PARTNERSHIP, TAX MAP KEY (3)7-1-05: PAPER ROADS. BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII: WHEREAS, the State of Hawaii, Department of Land and Natural Resources, had previously reached an agreement with the Big Island Country Club Estates Limited Partnership for the transfer of paper road remnants as identified on the map attached as Exhibit "A," which have a land area of approximately 6.665 acres, and was appraised at a value of $34,500.00; and WHEREAS, these road remnants are part of the ongoing dispute over these roads in limbo between the State and County; and WHEREAS, since the County has assumed greater responsibility with respect to these roads in limbo, the County and State have both agreed that the County should be the body to transfer these roads to the Big Island Country Club Estates Limited Partnership, and that as such should receive the proceeds from the transfer from these road remnants; and WHEREAS, these roads are paper roads traversing through the Big Island Country Club Estates Limited Partnership's property which do not actually appear on the ground; and WHEREAS, an appraisal was done of the property in 1992 which established a fair market value of $34,500.00; and WHEREAS, in reviewing the values of properties within the azea since 1992, our real property tax division has indicated that values have dropped and therefore it would not be in the best interest of the County to ask for a new appraisal; and WHEREAS, it would be in the best interest of the County and the Big Island Country Club Estates Limited Partnership that the paper roads be abandoned and quitclaimed to the Big Island Country Club Estates Limited Partnership; and WHEREAS, upon quitclaim of the property by the County, the State of Hawaii, Department of Land and Natural Resources, will transfer to the County, the sum of $34,500.00 held by the Department of Land and Natural Resources, from Big Island Country Club Estates Limited Partnership; and ~ , NW y - ~dM ~ r. WHEREAS, sections 2-111 and 2-118 ofthe Hawaii County Code authotves the disposal of road remnants by offer of sale to the abutting owner; NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII that the road remnants as set forth on Exhibit "A" and described as road remnant parcels at Puuanahulu Homesteads, North Kona, Hawaii, Tax Map Key (3)7-I-O5, consisting of approximately 6.665 acres, aze hereby abandoned, discontinued and quitclaimed to the Big Island Country Club Estates Limited Partnership. BE IT FURTHER RESOLVED that the County Clerk transmit a copy of this resolution to the Chief Engineer and Director of Finance. DATED: Hilo, Hawaii, July 15, 1998 INTRODUCED BY: - COUNCIL MEMBE HAWAII ¦:~dpwktryclub.res COUNTY COUNCIL ROLL CALL VOTE County of Hawaii AYES NOES ABS EX Hilo, Hawaii ARAKAKI X CHUNG I hereby certify that the foregoing RESOLUTION was by the LEITHEAD•TODD X vote indicated to the right hcrcof adopted by the COUNCIL of the RAY X County of Hawaii on July 15 , 1998 REYNOLDS X SANTANGELO X ATTEST: SMITH X TYLER X YAGONG X / ~ - 7 0 2 Reference COIIInI. 891/PWPC-Q111 COUNTY CLERK CHAIRMAN & PRESIDING OFFICER RESOLUTION NO. ~ ~ V Z - a• r• x r~.t ~ y ~er•• _ a ~ 3 N ? 4 - e • fy.:: . L c = ~ , .Q p o < ~a a i C 0 Ni= a r > ~ o +r'r L• ~ ld A J W i C u~ .a rO• 1s+a ° ~ t 4• [ C X44 w a ° °a 4• 4r r ' Y` F ~ ^ Q t ~ `oN w Vi a- O iQ Q v u z M °r tl4 ' L Q a yl i c a •a•r C i ee `e.. • .t~ ~ .ao.ii f I4i! L'p ~ o Fr • ~ O f ae.rt pe V ° 1/ ° ~ as ~f<~ • a• ~ r'+' ' fiZ ~ • h'~ka ~ tl rr a'.aaa r ~ f' • 'V ~ ^ O V .oa~r0 'ter- \t r? C3 n x ~ ! d '1f i'7 e } ~ ~ to ~ ~~H~ ~ <r tr re eti + ~ eE r a'ar :S c r 1 y .mat j -ae4 - e. ,p .e A ~ 4 w: ~a: to .~.e 7 ~ •a'ut .•+ya•• ~r •r J • - . • .a e xOV/~/// -w Mph' e. r r V :i r :w ras'~ 0-4 v -LntyN ''°Sa o .o si ly •~k fiav~ ~ i „ ~ J•x ~ 'rY^ f. l air • ~ ~ ~ ~a r 1. a`~ •aDt qi ~ ~wi ;i r + a' • ~r t e ~ o S ~ o / ~ ) o o ~ ''e y d 'a o a ~2 X A \ O ~ 4A 4, w~h O \ 4 ~ •l ~O ~ " x to ~ X c^~ r . O a ~ c S' u J, ' ' ,r _ a' e~ ° _ ~s + ' ~ ~ q p o ae,e= ?..°,.e ^ Cr f £X£~BIT A LAND APPRAISAL REPORT Puuanahulu File No. 2194 Borrower G. Rick Robinson Census Tract 215.02 Map Reference 371-05-Remnant Progeny Address Off Mamalahoa Highway City Kailua-Kona County Hawaii State HI Zip Coda 96740 Legal Descdplbn Road Ramnent between LoM26A1.27A 8 27B Puuanahulu Homesteads, North Kona Sale Price S Per Sg. Ft. Date N Sak n/a Loan Term n/a yrs. Property RigMS Appraised ®Fee ? Leazelpld ? De Minimis PUD _ Actual Heal Estak Taxes $ Not Ayailab tyr) Laan charges to be paid by seller E n/a Other sales concessiore n/a Lentler/CgeM G. Rick Robinson Address P O. Box 430 Kealakekua HI 96750 Occupant Vacant Appraiser Joelle Baird/Larrv R. Baird Instructions to Appraiser Formulate 0 inion of Current Market Value of Road Remnant Locatlpn Urhan Suburhan Rural Gootl Avg. Fair Poor Buff Up ? Wer 75% ? 25%bT5% ©Under 25% EmpbymeM StahilRy ? ® ? ? 6rowlh Rate ? Fully Dev. ? gap10 Steady ? $bw Gonvenlerce to EmpbymeM ? ® [ ~ Progeny Valdes ?Iroreaslrg L~Stabk ?Decfining Comenleree to Stepping ? ? ? Oemanysuppty ? Shodage ~ In Balance Marsuppy Comenierce to Sclwok ? ~ ? ? Markagng Tme ? Under 3 Mos. 4-6 Mas Over fi Mos. Adequacy of Pubde Transpodation ? ~ ? ? Presets LaM Use 20%1Famiy _%2-4 Fatuity _%Apts. %Gondo-1%Commercial Recreational FacilBies ? ® ? %Indusbial 79%VacaN Adequacy of UUlflies ? ~ ? L Charge In Presets Land Use ~ Nat Likey L~ Likely I ? TaWrg PWce Property Compatibility ? ® ? ? ('j From To PrNxticntrom Detrimental COnddlare ? ~ ? ? PredoMnaM Occuparcy Owner ? Tenant 5 %VauN Police and Fire Protection ? ® [ J Single Famiy Price Range E 125,000 to 3 1 000 000 PredomnaM Value E 175,000 General ADVaarance N Progenies ? ~J i I [1 Single famiky Age New yrs. to 40+ yrs. Predominant Age - _ 20 yrs, Appeal to Market ? [ GonmMMS IncWding (lose faders, favorable or uMavorabk, affedlrg merkelabiPty (e.q. public perks, scMols, view, rolseJ_The sub ect is located within Puuanahulu Villa a residential residential acres a church off course a roximatel 15 miles from Kailua-Kona tar esl town in West Hawaii ma or cervices . Area is also located a rgz 20 miles South of Kamuela services rivate schools hos ital Puulani Ranch Subdivision pod uali homes a uesirian lacililies located within area. 6i Island Coun Club off course also located within area. Dlmer6brts Sea attached mep 8legal description _ 0 877AC Sq. R. or Acres Comer Lot Zonrp dazsdicatipn Not Available Present lmVrovemeMS ?do ?tle rwt coMorm to zoniry lepuktions Highest and hest use ? Presets use Other s ec Adddion to ad'einin parcel Public Other (Describe) OFF SITE IMPROVEMENTS Topo Moderate _ Elec. ? SVeet Access ®Public ? Private Slee Smaller Than Typical _ Gaz Individual SBnace Asphalt 'Mpe Road RemnanULong 8 Narrow Water Private System MaiMewnce ? Puhl¢ [ Pnvate View Ocean San. Sewer ? Septic ? Sbrm Sewer ? Cmb/Gutter Orairage A ears Ade uate ] Underground Elect. 8 Tel. ~ Sidewalk ~i Stree! Li Ms k the property bctled In E HUD IdeMMkd 8peckl Fbod HaeM Ara? ®No ? Ya Caafnen(s Qavaable or unfavorable lndudlnq any apparent adverse easements, encrpachmenls, or other adverse cpndillonsl' FIRM CP 15516fi 525C not rioted index revised 6/95. The sub'ect is an un aved road remnant acel that is Dartiay overgrown with grass/brush. No adverse easements or encroachments noted an sub'ect remnant arcel. The untlerdgne0 has receetl Nree recent sales of pmpedies most similar and pmvimate to soblect and has cpnsitleretl Nese in the market anarysl5. The tlescdpean Includes a dollar adW reeectlnq market radian Ip Ihase dams of slgnllicant varlatlpn beMeen the suhlen and camDarable Dropenles. II a signllicant Item In the comparade gapeM is supetlor to a marl lavopble than the subject Dmp<M, a moos atljuslmenl is merle Thus reducing ine indicated value of sublec(d a slgnifianl flan in Me [empapde is Inlenor la ar less tavaahk than the subled properly, a plus adjusimeM is made thus increasing ik intlkatetl vake N the suhjed. ITEM SUBJECT PRGPEPN COMPARABLE N0,1 _ COMPARABLE N0.2 COMPARABLE N0.3 Address 371-05-Remnant 371-OS-Remnant 371-OS-12 382-01-Portion of 133 Puuanahulu Puuanahulu Puuanahulu Off Greenwell Mntn Road _ Proem' to Suh'M Ad Dins Sub'ect 1/4 Mile NE rox 30 Miles SE Saks Prke Per S Ft 0 119 0 25 0.055 Pnce TNaI Prke f 34 500 10 000 2 000 Data Source Ins ectioNSurve or Coun of Hawse _ TMK Service/Public Auction TMK Service/Bu er/Seller - Dated Sak and DESCRIPTION DESCRIPTION Ad est. DESCRIPTION AA ust DESCRIPTION Ad'ust. _ Tme AdjusimeM n/a 7198 _ 10/00 7/90 ' Laation Puuanahulu Puuanahulu _ Puuanahulu Ca fain Cook ' • SA iew 0.877 Acres138202sf fi 665Ac/290327sf _ 0 93Ac/d0467sf 0.842Ae/36678sf _ VMw Ocean Ocean Ocean Ocean She Road Remnant Road Remnant ~ Lon 8 Narrow Road Remnant I rovemeMS None None None None Saks or Financing Na Cash CommissonerDeed~ Cash Corcessiore ftes#286-98 ~ _ D#00-143396 ~ D#90-108463 NM Ad. Nat ~ + _ _ + + _ Indicakd VaWe N Subled - $ 0.17 9 $ 0 25 $ 0.055 CommeMS on Market Data: Como#1 is much larger road remnant parcel sold_b Coun in sub ect area similar she e 8 view. Coro #2 is Ion 8 narrow arcel alon H in Puuanahulu that was taken back after foreclosure no bidders at ublic auction indica[in no demand even at /oredosure price) larger parcel that may be buildable (with variances). Com #3 is older sale located in outside of sub ec[ area similar size. CommeMS and Conditions N ADDraI$aL This appraisal rs a complete summary report for pgtenbal purchase purposes not intended for any other Use There are no listings of road remnant parcels known to the appraisers. Least wet ht iven tom #3 because of its lack of similari for location 8 date of sale Estimated market value of the sub~ect remnant arcel is $0 15/sf x 38202sf = $5730 rounded $5 700. Recent raw land sales 8 active listin sin Puulani Ranch show a ran a of $1 14 to $1 72/sf for buildable sites icall remnants sell fora rox 10% of buildable arceL . FirW Reconciliation'. ..This analysis offers further support for value estimate. Market a roach is the best indicator of value for the sub'eN as d - re resents actions of bu ers 8 sellers in the o en market. No cost approach due no builtlin s. No income a roach because raw land not kally bought 8 sold for its inc a potential. 1 F IMATE THE MMRFT YFW/~F/,/l/~~Y BE f nE SUBJECT PROPERTY PS pf _ _ ApgUSt 1 2D 02 t0 h¢ $ 5 7iD Ira Be Larry R_ Ba(1'd _ _ [ _ Did [ ] Dld Not Physicalty Irspact Property 'Ap ratters ~ Review Appraiser dappliceble n Beutl Appialsals Form LND -'TOTAL for Windows' aVPraisal software by a W mode. irc. -1-800-ALAMODE FXHTRTT °N' DEFINITION OF MARKET VALUE: The most probable pike whkh a property sMud bring in a compettlive and open market under all comlhkns requkAe to a lair sale, the buyer aM seller, exh xtirg prudeMry, kmwbdpeaby aM assuming the pike k not affected by uMue stimulus. Implkd in this delinilbn k the consummalbn M a sale as of a specekd date and the passing of Nk hum caller to buyer under cordttbns whereby', (1) buyer grid ulkr are typcaly moWaled; (2) boM partles are well informed or well adrked, and exh xtirp in what he considers his own best iMeresf, (3) a reasonable time k aWwed for e~oswe in the open market; (4) paymem is made k krms N cash b U.B. dollars ar 'a terms of firancal arrangements comparable thereto; aM (5) the prke repieur4s tre normal conskkrarbn for the property soM unalfecled 6y specal or creative finaxing or sales concassbns' granted by arryore associated with the sale. ' Atllustments to the comparahks must be made for special or crearivr financing m sales coxessions. No adjustments are necessary far those costs whkh are mrmalry pai0 by sellers as a resuB al traddbn or bw in a market area; these costs are readiy kkn[diabk since the ulkr pays these costs in vidually all sales trarsactiare. Special or creatNe finarairg adjuslmenls can be mile to the comparable property 6y comparkore to fbax'ag terms ofkmd 6y a Uird pally ireMutanal lender that iv rot already irwoNed in the property or transactbn. Arty adjustment should not he cakukted on a mechanical dollar for dotal cast M the firaxirg or corcessbn but the dotal amount of airy adjustment should appromnate the market's rexlbn to the financing or coxessbrrs based on the appraiser's lodgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraisers certAkarbn that appears in the appraisal report is subled to the fulbwirg candubrts'. 7. TM appreiur will rwt be responsible for matters of a legal rWUre that Afed eAher the property being appraised or the tBk to A. Tfe appraiser assumes that the silk k good ant markelahk and, therefore, will rot render arty opinbns about the title. The property is appraised on the basis of d bekg uMen rasporeibk awiersNp 2. The appraiser tut provided a skekh in the appraitM report to slaw approximate tlimensans of the improvements end the skekh s included any to assist the realer of the report in visual¢ing the property and understanding iM apDraiur's defermirMbn of ds s¢e. 3. The appraiser has examired the available food maps tMf are provided 6y da Federal Emergency Management Agency (or other dda sources) and has mted b the apprakai report whether the subject site s located in x identikd Bpecul Fbod Hazard Area. Because tk appraiser le rot a surveyor, he or she makes ro guarantees, eryress or implied, regarding this delerminatbn. 4 The appraiser wiU rwt gWe testimony or appear b court because he or she male an apprasal of the property in quesibn, unless specific arangements k do so ~vre been maree belorehaM. 5. Tk eppraser has estimated tie value of the land in the cost appmxh at hs hghesl and best use and the impravemenls nt then contributory value. These up.uak vduatbrs N the land and improvements must rat be used in conjuncibn with any other appraisal end are unalid p they are u uud. 6. The appraier has rated in tM appraisal reWrt arty edvau coMdbns (such es, needed repairs, depreciation, tM preunce of hazardous wastes, toxk substanes, etc.) oburvad durbg gre inspeclbn of the sublxt property or that he or she became aware of during iM rormal reuarch ImoNetl b pedormirg the appaisd. UNess otMrwiu stAed in the apprasal report, the appraisrr has no krowkdge of am/ hidden m unapparaM condibns of the poperty or adveru emiromnenfal coMUbrs (including the preuxe of hazardous wastes, loxk substances, etcJ that would make the property more a less valuable, and has assumed that (here are no such condd'ans and makes ro gumaMees or warrantks, express or implkd, regarding tie condAbn of the property. The appraiser witl not be responsible far arty such coMdkns that du exist or for any engineering or testing that might De required to discover wMiher such coMilbra exist. Bxauu file appraisrr ¢ rwt an expert n the fkk of environmeMel hazards, the appraisal report must rot 6e considered as x emnormental assessment of tre property. 7. The appraisrr obtained the intormatbn, estimates, and upinbm iMl were expressed in iM appraisal report hum sources that he or she corttiders to De relubk and believes them to be true ant correct. The appraiser does not assume respoms0iluy for the xcmxy of such uems that were furruskd by otNr panes. B. The appraier will wt discbse the contents M the apprasal report except as provkktl for in the UnBarm Standards of Professbnal Apprakal Prxike. 9. TM appraiser has baud hk or her appraisal report and valuatbn eorolusan for an appralsal that Is subject to satisfxtory compktbn, repairs, or aheietbra can the assumpibn That compktbn N the improvements will 6e performed in a workmanlike manner. 10. The appraiser must provide his or her prbr wriden consent before the kmkridknt spxBied in the appraisal repod can distribute the appraisal report (inluding conclusbrw aDOUI the property value, the apprasers deMily and pafessbnal designatbns, and references to arty prolessbrW apprabW grgan¢atbns or the Ikm wuh whkh the appraisrr k associated) to anyone other Than the borrower, the mortgagee or As successors and assiprs; ik mortgage intwa; cortupants; profeubrW appraisal orgxrzatiora; arty slate or lederelfy approved firanckl insldutbn; or arty Department, agency, or irotrumentagty of the United Slates or am/ sale or the Dkirkt of Columba; except that the lender/clkM may dkhihute the property descriptbn sectbn of the report Doty Io data collection m reporting urvkejs) wiliaul having to obtain the appraser's Drbr wrulen consent. Tk appraisers wrdten conunt and appoval must oleo be obtained before the apprasal can be conveyed by arryune to the puMk through aMeRkirg, publk relatbns, news, sales, or otMr media. Fredrd 1a Mx Form 439 G93 Page t of 2 Fannie Mx Farm 10048 F93 Baud Appraisals Form ACH -'TOTAL 2000 for Wimbws• apprasal software by a U mode, nc. -1 800-ALAMODE APPRAISER'S CERTIFICATION: Tha Appraisal cer(d~as and agrees th~d- 1. I have researched the sublert mni kel Brea and have selected e nmrmum of three ieceM sales of propedles most similar and proximate to the subject property for censiderehen in the sales comparison analysis arid have made n dellar adjus(merA when appropriate to reflect the market reaction to those Aems of signHicaM variation. b a significant item m a comparable property Is superior te, or mare tevorahle then, the subject property, 1 have merle a negative adjuatmeM to reduce the adjusted sales price of the comparable and, if a signBicarA hem .n a comparable property is iMerier te, or less favorable than the soblect gingery, I have made a posplve adjuslmerA to increase the etljus'tad sales Pilce of the comparable 2. I have taken Into wnslderatlon the factors Chet have an Impact en value In my UevelopmeM of the estimate of market value In the appraisal report. I have not kncwingy whhheld any sigoiticarA iMurmetiun from the ePPrnisnl report end I behove, to the best of my knowledge, that all statemeMS and Inlormetlon In the apt ralsal repod are true and correct d. I stated in the appmisxl repod only my awn persunel, unnmsetl end pretesslonnl anetysis, opinions, and conclnsrans, which are sublet( Dory tt the corAirgem ant limiting cendhions ryecdietl n INS form 4 I have no present or pimpecbve aderest m the property ihnt n the subl=et to Pris repod, end I have no UreseM or prospective personal Interest or hies with respect to the penicyreMs in the Oamacbon I did not hose, edhei pnrtially or comVletely, my enayss' endPor the estimatn of market value In the appraisal report on the race, cobr, religion. sas, hantlmap, fmmhal status, ur natlon.d origin of either the prospective owners or eccuparrts of the su6~ec1 progeny or of the pmsem ow~wrs or uccuperAS of the pmV"ales in the vicinity of the subject pro reify 5 I have no praserA er corAemVlatetl h0ure IMemsi In the suh'lact I+opeiTy, and neither my cmrarA or fNUre empleymerrt nqr my compensation for pedonning this appraisal is corAingerA an the eppialsed value of the propeM 6. I was not required to rxpat e ymdeteimmed vahie or tllrectlon r vnlue that fevpn the cease of the client er any elated party, the amourrt of the value estimatn„ the etlainmerA of a specific resun, m (rte ocennence at a nibseguent event In order to receive my compensation endPor employment for pedormirg tM appraisal I did M base lhx appraisal report un a rnpuestetl mioanum valu,itlon. n ,pacific ualuafion. or the need to approve a specific mortgage loan. 7 I penurmntl this appieu:d m contpumty wtlh the dnitoim Stns Ini ds of Pielesional Appraisal Practice that waa adopted end promulgated by the Appraisal Staetleids Boeid of The Appraisal Foundehun end that weir m Plan es of thx enedve date of this eppreisal, wdh the exception of the depedum provision of those Standards. which does not apply I echmwledge that nn aspmnte N , leesoneoln fimr fur egtusure In tM open market is a cendifion In the dMlnltion of market value anC the estimate I developed a cunsntem with the mar keting 1~ rte noted In the nalghborhued section Of (his mpoR, unless I have 0(II9M'ISe stated in the roc mcdrehun srction B. I have Versonally inspected the inlerioi aW eAenpr arms of the subject progeny end the exlerier of ell progenies listed as comparabks In the appraisal rapen. I further teddy that I have noted any eppaiem or known edvene condhlons In the suhlect Improvements, on the suhlect sde, or on arty sde within the immediate mnairy of the suhlect progeny qt wNCh I am aware and lieve made adjus(menls for these adveae conditions In my analysis of the propelTy value to the e>aerd (het I hod market andante to suppeit them I have, also cummerded about the efleFt of the ndverse cendplens qn the marketebiliTy of the sub~act property. 9 I personally prepared 'ell conduaiuns and opinions abriul the seal estlde that wain set tpnh in the appraisal report. M I relied on sign0lceN professional assiynenca from any indlvidunl or individuals in the petlormnnce of Iha apprnisal o~ the preparatlen of the appraisal repod, I have named such Individual(s) and disrbsed the specific Lrsks pxnonned by them m the recuncdiahpv secbon of this gAnaisal raped. I cetllty that any individual so named is Oualttied to padoim the tasks. I have not mdhoriEed anyone to mane a change to nny d+in in Om report', ~heielpre, A an unnuthoriaad change Is made to the appraisal report, I will (eke na ~esponsibihry far it Appraser further cemhes that-The concluson is my personal impartial unbiased prolessonal analyses, opinions & aonoWsions, -I have no bias with respect to suhlect property, - my engageme ~t m this assignment was not contingent upon developing or reporong predetermined results, - my compensaban for completing this assgnment was not contingent upon the attainment of a stipulated result or the occurrence of a subsequent event tluectly related to intended use of this appraisal SUPERVISORY APPRAISER'S CERTIFICATION: B a supervisory appraiser signed the appraisal report, he or she cenHles and agrees that. I dvedly supervise the bppraisei who prepared the nppiaisal report. have reviewed the eppreisal report, agree wdh the sletemerAS end cowlusior5 of the appraiser, agree to ba bound by the appraiser's cediticetroos numbered 4 througl 7 ehove. nntl am taking WII responsibility for (re appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: Ott N4u~nalahoa Higbway~Kailua-KOna~H196740 APPRAIS ~ / / SUPERVISORY APPRAISER (only If requlred~: r , Signature: _ ; ~~~-~__f 1,_-L ~ _ Signature'. Name: J el BairdlLarr _ Baird / _ _ Name'. _ _ Date Sig d'. Au ust 30 2002_-~_ T _ _ _ _ Oate Signed: _ _ _ State Cen Ic ion k'. CRA 545ICGA 2Bfi State Gadllicatlon or hate License or Strata Llcanse N: Strata'. HI _ State Expuabon Date of Certification of License, 1 213 112 0 0 1 _ _ _ _ _ _ Expuehun Date of Gertihcebun er L¢ense_ Did Did Nat Inspect Property Fmddia Mac Form 4J9 6-99 Page 2 of 2 Fannie Mae Farm 10048 8-93 Fuim ACR -'TOTAL for WlmJUws' eppreisal 6udware by s la mode, IW--t$o0-ALAMODE BAIRD APPRAISALS LANI I APPRAISAL ADDENDUM It06INSON X71-tls-IrCIIInaIII N/a2 NAME TMR Dam SCOPE AND Pl1RPOSE This appraisal conforms to the Uniform Stmtdurds oC Professional Appraisal Practice axcept Ihat Qre departure provision does not apply. This report has been completed to formulate an opinion of the market value of the subject property, as it was on the dale of the appraisal. The appraisal's scope included a thorough inspection and description of the subject properly Coilowed by a determination aClhe subject's highest and best use. An estimate of the subjec's value was arrived al via the market comparison approach. The market approach was undermken via selecting comparables from the snow or competing nmrket auras and adjusting thorn for differences. [hereby rc0ecling a value indication for the subject Cos[ and income may also be included (as applicable). The results of the applicable approaches to the value were then reconciled and a final value estimate for the subject was concluded. The report, in writing with all of its addenda is a summary report witb all the necessary information needed to support the vahte conclusion. This report may be used only by the identified users Cor the use staled below. Purpose oCAppraisnh PonnulJlc Opinion of Current Mnrkct Vnluc Function of Appraisal: Valuation for Purchase lutmrded Users oC AppraisaP. Those in connection with Purchasing Process comparables were researched within the past I~ months to I yrar (longer if necessary) (sour the following sources: A. TMK cmuputer service which includes all recorded sales and (heir recordation doaunent ?umbers D Rcdi Really Sales Scrvicc (RSS) which conlnins similar inConnmion as the TIvIIC service. C Multiple Listing Service (MLS) produced by the Board oL Reaito¢ which includes itdonnation on listings, salts and pending sal~s- D Real estate brokers and our o11 a Glc. E Buyers and sellers This addendum should be :machal end becoum pan mf the nppmisa. Appraiser(s) ccniCy that the digital photos contained in Ibis report have not been enhanced or modified. The apprnisal estinmles the value of the rent prupcny. No personal properly, Gxnues or intangible items that are not real property arc wnbtincd in the estimate uCnurkel value The follmving is :m analysis and rcpm7ing m; flit Current mad:ct h'ends and conditimrs that will affect flit p rojccted income uf, the absorption rate of m'thc value of the subject unJ its surrounding area: The current mnrkel has been stable wish iucrcoses noted in since late 1992 Interest rates arc at acceptable levels. The follmving is an analysis :md reporting of appropriate JeJuclions ;uW discounts for any proposed construction, mr any completed properties that arc partially leased or leased at other than market rents as of flit dale of the appraisal, or any tract developments with would units. Tbc subject is not proposed or leased. No nearby developments are expected to negatively impact the subject. 1. Wcrc cun'cnt comparables (rvithin six months) used in flit market approach? CompHl Nz k3 arc over six months but best available comps were relied upon. No other more recent or similar salts rvcrc discovuraL 2. Wcrc m:u'Itct congrarahics Iucpled rvithin the imincdiate or in similar nuuicel areas /o the subject." Ya, 7. Ix there huyJOwn, subsidy nr any other special financing involved with lbc comparables? No. 1. Do the tntnl net arljusnncn[s (ur each cump:u'nblrs exceed I$'/, of the sales price of that transaction? No 5. hulicrte conclusions for Highest and hest Use. In arriving al highest and best usq flit apprnisc rs hart considered uulilies or:ailablq what is plrysically and legally possible, and fmaudally feasible and results iu the highest value. Willi Ihcsc criteria in mind and the predominate use in Ibe neighborhood, the highest and Ual use oC the subjccl is dGCnniucd lobe addition to adjoining parcel. 4 Does the subjccl silt nmfot'm to nu'rcnl timing ordinances? (State land use foul the County of Hawaii arc in conflict over dwellings allmvcd in agriculhr rut zoned areas, State says must be ag relined dwelling, County has nu restrictimrs, app ruisal ass'umcs conflict does not affect residential acreage potential of ug timed parcels 1. The subject silt is a road rcnmant with zoning not available, a;rrcntly onl} usable as a roadway, thcre(om, zoning is not an issue. 7. Do subject improvements appear to conform to wing ordin:umes? n/a N. Was thm'e any value given In improvements appm cnlly built without permits'' Na 9. Was inaune or rent considered Cor w:penniltal areas or nAAitions? IJa. I11. Giec :r sales hisGl p' nl' the cungla cables if Ihr subject prnper2y is located in a speculative area. "fcpicully in Hawaii, a eerl;lin another of properties arc purchased for speculation. I I. What volcano hazard area iv thr sub,jttt Incalerl in :mJ how does [his affect its value? There a current volcanic aclivdv Inking place m: the Island of Hawaii. The subject is located within zone 1. The comparables chosen arc in x similar roue. Marketability in Ibis zone as a result of volcanic activity has no[ had any discernible cficcl ou vxlucs_ 12. If [he suhjccl is in a Ilond haz:u'd area, how does this affect its vnluc° The suhjccl is uol lodvcd in a hood zone. 13. Summari'rc the su bjcc is cm'renl sales ronlrad including any sides concessions m' personal property included in the sale. u/o IA. Ilan the su bjed been offered fur s;de in the lual 311 rhp~s:' Not on MLS 15. Anakzv and report data un ru rrenl revenues and vacancies fur the su bjed il' it is nr will be income producing. The subl~I is sal income prod acing. IG. Analyze and report a rcrsnnuble marled cspasu'e pc rind for [hc suhjccl property. Days nn nwrket oC land soles in the nlbjccl market urea :angc from I1 l0 30J days with most sales ocenrring in the 1 to womb rouge. The sub~em is a road rcmnmv, Therefore marketing is diRcult if not purchased by adjoining land owner No otller mlerc5lcd purl ms mould likely esia Therefore, if offered ou the open nmfkel, likely no sale mould oco:r 1 i. Leal dceu-ip(inn ul' the lu'upcrh is allad¢d. la. Iha the su bjcc( tran,ferral n'ilhm the V:at ln:r° No. ADDI"fIONAL DISC LOSl1REA Larry R Baird is n CCA Lecused uppra isci in the Slule N Il:m;a is and has 2U veers experience appraising on the Big Island He is also ;T mm~lber oC the Kona board oC Rudlors as :w Appraiscr/Realtor as well as a candidate with the Appraisal Instil ulc I certify that, to the best oC knors ledge and belief that the reposed analysis, opinions and conclusions were decclopcd and Ihis report has been prepared m conConniry with the requirements of the Code of Ethics and the Sumdards ol'ProCessionul Pr.TClice ol'Ihe Appraisal Institute. 1 cerli(y That the use of Ihis report is suhjccl Io the requiremculs of the Appraisal Ins( ilulc relating to review by its duly authorized representatives lodlc Hand is n CRA licensed ;Ippraiscr iu The Scnc of Hawaii and is nn Af6liale Member oC the Appraisal 1u51ilulc. The appraisers have the expcricuce mld knowledge to coinplcle the appraisal report incompliance wish the coinpclcncy provision of USPAP. The appraisal is bamd upon the definition ul market value (ouud lu the ccniGnliou oC this report. ENIIRONMENTAI. ADDENDUM This addenda ni reports Ilic nsulls of the apprl isefs' coal n:c inspection of and inquiries about the existence (or non eslslence) oC anv hazardous substances und'or dclnnlculul cuvironnlcuuil wudilions. The nppralsers are oot cspnY cnvi ronnrrntal inspcdnrs, and IhcT Cforc, might be unaware of exist ing hazardous substances and/or cnv:romnenlul conditions which inav h;rve a negative eLTecl ou the safely raid value oClho properly. It is possible I hot Ie515 and mspslions nmde by a quali~~d iuspeclanvun ld reveal TLC ccislence of hazardous umterinl and/or dcTriwcutul cnv:rauncnlul condTGmis on of .Hound the proper(( Ihm would negmivcly aficd its safely and value ' Apparent is deGncd hs tllaT ohich is nsible, obvious, erode nt or Tnauifcsl Io the appniscr_ DRINKING WA"fER _ X_ Urlnking w;ucr s/o~lll be supplictl ;o the suhjccl Gom a unTninpnl svnler supply which is considered sa(c. Drinking svalcr is supplied by a cuT~hnlcnl syslc m_ The value aslinunc m Ihis appr::isul is bascA on the assumption Ihm Ihcre is an adaluntc supply of sole, lead free drinking wamr. Where wxler emcluncul syslews arc ul:laal. nnswr the !ullowwg qucSlims' A Is Ihcre n seeoudun_' water source avnlablc7 Na B. What Is the cffcn the muter cnlchmcnl rcm:n has on the sublcd's n:arkdabilhy'7 :da C Arc scaler catch nm nl ssmmc Irp:cal for ucighborhooda Tv:T SANITARY WAS CE DISPOSAL _ Sunm:ry o'asle ss'ill be rcmonxl from Iho pmpe:l} by a unmidpul sewer system. _X_ Sanitary rraslo will be disposed olf via a septic svsmm Sanitary uvsm well be disposed oll by a ccsspoel. Cesspools are common in Hawaii and do not affect nuvkclabillly. "fhc value cslnuulc in tltis appmisul is based on the assrunptien that the sanitary lruste is/will be disposed of via a nwnici pall smver svslcur ur nn atlcquule and proper)v' maunaincd llllet'nale Ircal nlcnl sVSlcw in good Cendilion. SOIL CON'CAMINANTS X _ There nre uo appurcw signs of sal conlnminatiun eu or scar the subject properly- II is possible That research, inspection and Iesliug b}' a qualified euvironnwulnl inspector world reveal existing and/or potential hazardous substances and/or dctriuwutal cnvironmcutal conditions on or around the subject propcrly that would negatively alTecl ifs safety and value. Tbc vnluc eviumlc in Ihis appraisal is based ou the assutnplion That the subjccl is free of soil contaminants. PCBs (POLYCHLORINATED BIPHENYLS) _X_ There rs no apparent visible or documm~led evidmme known to the npprtiscrs of soil or groundwater conhuuiualial Gow PCBs an}~lnc~ic on the pmpcrly- Tbevalue eslitnule w this appraisal rs bnscd on the assuntpliou Ih:a there me no uncoutaiued PCBs on or nearby dtc subject propcrh. RADON Raduu rutq 6c pt eeenl bw rv nut considered io coul.rin Ie~: els ~rbove EPA recommended ulandards USTu (UNDERGROUND STORAGG TANKS) _X _ Thcrc urc uo appurem visible or deauncntcd es'.denec known to the upprliscrs of any USTs ou the propcrly nor rally kneuu historical use of the properly That would likely have USTs. _X_ Thcrc arc no upp:rrcm petroleum storage and/or dclrccry Gwilities Qncluding gasolmc stations or chemical mm~ulacnuing phmis) located ar adtncem grope rl ss (unless n:ncd below). Thcrc urc uppu rent signs of USTs r eisling non' or In the pall an the subjccl progeny It IS rcconuncndcd Ihul nn mspacnon br a quollGed US'f inspector he oblaiucd Io delenuiuc the IocN ion ofnny USTs mgelher wnh Iheu em ulruon K proper regniralroa rl lhe~ ate xd ive. :rod if lhq~ un; inaclice, to deternune whether Ihq~ were dclclivutttl w uccordunc~ lydh sound mduslq grad ices The value csGumlc in Ihis uppraaul is bnscd on the assumption That urc Gmclionmg US'CS arc not leaking and arc properly registered and Ihnl unv abandoned I ISTs urc frn~ hnm coulaminnlion and were properly drlincd, filled and scaled. NLARI3Y HA7ARGOUS WASTb SI"CBS _X_ Thcrc urc no uppurcul h:vurdmrs oaslc sites ml rn ucarb}the subjccl property (unless staled below). 'fhc caluc cstinuve iu Ihis uppnrisul is bnscd on Its assumption That there arc no hazardous waste sites on or ncarb}' the subject properly tlmt ucgaliccly often the caluc or sNal aC the properly AIR POLLUTION The Iclaud oC Hall nit has had mccul col earl.. actrvn} o'h.clr created VOG (volamo tag) m the air No impact to values has been cvrdctn iu the market VVETI ANDS The rile does not conlum any upp:u'ent well,ruds The culuc estimate iu Ihis appmisnl is based on the assumption I hul Ihn'c arc nu ll clla rids ou the propcrly. 9115CGLLANeOUS EN VIRUNNENI'AL HAZARDS _X_ Thcrc arc uo uppu rem nuscclluncorm hnzurdeus .ubstanccs nnNor dotrimculal environmmval conditions ou or in the area ofthc site cmcpl u, indrea led band' _ Ds~cns Nouc Radiation and ElmlrornlrgncGl Radiation fight Pollulrou l4ustc Ileut Aad Mrnc Urnrn~.gc Aguarllrrl'e Pollution Gcolugtad H:va nls _ Ncurby H;vardou, Propcm _ Iufcclmus Medical Waslc PcsGcidcs Ol hers (chemical No[age, storage dntms, pipelines, cle. The value eslirnnle in Ilds upprris:d is b;lsed ml Iha assumption Ih,n Thcrc arc no miscellaneous environmmval hazards (c,<ecpl Ihis reported above) thus would uegaliveh affect the vnluc of the properly. W IIEN ANY OF'I'l1E ENVIRONMENTAL ASSl1MPTIONS MADE IN THIS ADDENDUM ARE NOT CORRECT, 'CtIE ESTIMATN:U VALUE IN THIS APPRAISAL MAY NOT BE VALID. ROAD RESERVE (25-FEET WIDE) HOMESTEAD ROADWAY i LAND SIl'UATED AT PUUANAHULU HOMESTEADS NORTH KONA, HAWAII, HAWAII BEING A PORTION OF GO~'ERNMEN"f LAND AT PUUANAHULU HOMESTEADS Beginning at a set rebar-cap in concrete at the Southeast corner of this 25-feet wide RnaJ Reserve, being the Northeast comer of Lot 27-A, along the Westerly side of the North Kona Belt Road at Puuanahulu, the coordinates of said point of beginning referred [o Government Survey Triangulation Station "PUU PANINI" being 2,085.73 feet South and 2,295 73 feet East and conning b}' azimuths measured clockwise from True South Thence, along Lot 27-A, a portion of Grant 7548 to I Hairy Haiha for the following four (4) courses. L 137` 59' 00" 89.47 feet to a found pipe m concrete; 2. 128` I R' 00" 418.60 feet to a set rebar-cap; '~i 3. 126° 24' 00" 496.25 feet to found pipe; ~ 4. 143' 40' 20" 156.1 I feet to a set rebar-cap; Thence, along Lot 27-8, a portion of Grant 7548 to Harry Haiha fnr the following two (2) courses: 5- 143° 40' 20" 297.57 feet to n found nail set in top of rock w-all: ~~i 6. 143° 11' 47° 115.61 feet to a point; 7. 225° OS' S4" 25.25 feet along the remainder of the old 2S-feet wide Road Resenc (Old Homestead Road) to a point; Thence, along Lot 26 [TMK: (3) 7-I-0522 for the following twn (2) courses. 8. 323° 11' 47" 119.35 feet to a point; - - 1 of 2 DON McINTOSH CONSULTING, INC. TNIK: f3) 7-I-05.27 & 6~ P. 0 Box 53 Kailua-Kona, Hawaii 96745-0058 JOB NO: 2812-00 323° 40' 20" 26939 feet to a point; Thence, along Lot 26-A-1 for the following three (3) courses; 10. 323° 40' 20° 180.50 feet to a point; I I. 306° 24' 00" 492.87 feet to a point; 12 308° 18' 00" 424.97 feet to a point; i Thence, along the Westerly side of the North Kona Beh Road, along a curve to the left having a radius of 925.00 feet, the chord azimuth and distance being; 13. 33d° IS 55" 91.47 feet to the point of beginning and containing an area of 0.877 acre G. Mcid,~ DO'J Mc]NTOSH CONS[LTING, I?VC. i ' LICENSED ~N ~~s~ i / ~ PROFESSIONAL = G' LANG SURVEYOR _ No. aese onald C McIntosh, L. P. L. S. #4968 Hq K'AII.~SP Consultant-Planner, Developments i Kadua-Kona, hlawaii December I, 2001 REVISED December 6, 2001 NOTE: The above description was prepared f}om a ground survey of the roadway and the compiled records ofthe adjoining parcels. i -2of2- DON McINTOSA CONSULTING, INC. TMK: (3) 7-1-0527 & 62 P. 0 Box 58 Kailua-Kona, I~awaii 96745-0058 JOB NO: 2812-00 p ~ 4 5 6 7 Nb10/IPI5,1., k' J, II°y ~ Ly -y'• Mmumnl uU ~KiuIWl Point. Y Heenl Pant Neo4sl &erll PeM1 I~ 1 ° !..r y/' Kepa•Be+df P,M1 UZ70 WWI ~ n, MAHUKONA n AQ Manux°^. BeaBn P,a a ~~MnIKAPAUy'~1, q - ?Ctf! NNIHAU I"~~ Noaip C°W SI+II UMpwIIN Poh p y l• - C fyuk+N SllIe MSWi[+I P?N pANCH '0!Y >1 ; '•N:; ~1 270 i p ~'N°v KUKUIHAELE ` ' , a 1 j ~ ~ KOHAU 2 °o'; Q ~1'+Maew McEW F. g RANCH ° UL I!C '4 'I d' {7 ~ ZO K~AfA ~qr C ry o = '1 p U WAI o ( 19 Mua h SrLfici•• samvNMSPOrrsrtleeBn FaA 19 WA1A et Pert NLro, ?Har~M ~ M KnnnriAu'' • ar. win " Greif Illy N1u4alne tiln°m MUmwnl~ IfHO 4 ~ u Napum Bp+ut sulp ~Pelh xy GE NA = ' P E ~ 4Viilnlm lLty ~ M ' wmle wakn fwnier QNY w° n„'K.nalu p L'S. tip HANAIPO F u^"plill C PM ~ _E+nn.Aw ~ v..N+bM , ~ wsawa Prni S WA1{~LO OA ~ ~ \~.4i~ N° n G. KLUGE S ' ANAEHOOMAL Wllxoloe 'I ~ s• KAPAUO _ _ ne \ B„ 8 p e's n y l . E - c s ~ Amau l;.o n ~ ~ b w Fain ,tenon \AIKII KI OLO Ne KAUPULEHU I 190 KEPMUKU' - F K.weV ~ e $Ubl~ P°inl O PUU Puu naa.aa Ro"' B 5„ PU WMWM~Fev.J95)Fl pp ~ I(ALAOA RANCH µe25, ~M.d°. N~~~ . C KeIM1 a gil M° 'f(aU Blfl(. IfnnAW°v19 HONONOH wMns~~B 1/fe . My (PAUNIIM y>,,. uasFl s.ma ~ r l~` I ~Nwln»P.Mm 'Milan Ooy., II aHOLUALOA x; y ~ BBB T$ I KAMALUU et'.Y _ - ~V, I' KEnuHOU 'b'"~ I BUmNaoi o HONA ryaRes was Nmw PN^I y K ~Lpp3 M^unlam Mu II)e wonal 8 ~aW1°"e"'"*" ~ Mauna loa R. apart cow n o `-'BY EI°°IB.snFl Knln~O x^v (Elewt'on t HONBaI~UU ~ Nm Acore sea ~ . w~,INtelvix o bKEn oca r K : Hoa+.ne 4 solPnw con. a.Nn I t Q$ K+Ww°{bNl :.Qplllh:tJ1 "5..~ AIiNe ~ I L ~ ~ ~ ConBO yµ 51 KileluvLa lH:y ;.'.rK~~:. NyQ OKeokBO ~ LN,-, .y~ '..1'u n la ,~3 Elev fiB>S FI 'i iM HOOPULOnY PAPA yob r M v KuLOUI 2 ~ a ~ »v ~ I ~ I 'i: MJaNawarP x 3 pyf• ~ ~ I - P kl~ 1 NeremW Kin Kaput, Pelrm. - oa. Iw : m ' OL U. ~ ~'.e I I w.nak~ I ~ M' S' w r+' ° yg Pu ~~.~San0,7PS,1 W Jr~, t ~ 04 EW 4 ~a.~.. ~K4~4!l N ~ R~ ~ qs RIQM„IHIf'n^ HONUAPO J Ka^awm N~o ' WNttWwn BeeayR.rkl B>I.M1huYdkB 4 ,I-a KAHUKV I I U K ~ I.A pl t ~.r . 7.N iaT J . n Kaune Po:nl ~ (ae ~ wu&y (ICH ~7~~11e. "PJli~~a ~ ° ~°s ~ .N~4a ~ y O N l Krvl m Mn ~y ~5#~BN C' °tr "~t'r+ u N ~ r~ ' r~ 2h _wV PNk GIM sBId BBacM1'. Lw N/iY"S~K~ BBE' µ ? '_8 P g Kn ~ ;+3K(in:Mwsouu»rn Panl 1° i~ d ~(.l f` ~s'?a:~~,4 L ~ ~••oIIM USy 1 2 3 9 5 ~ 7 Suhject Photo Page BoOOxa ferl G. Rbk ROb11KOn _ Addass OR Mamelahoa Hi hwa C Kailua-Kona Cou Hewaii _ Stata HI Lo Code 98740 Landes G. Rick Robinson 371-0SRemnant Sales Price Per Sp. Ft. GLA ToW hams ToW Bednns Total Bdhrms LaaBan Puuanahulu Vbw 0.877 Acresl38202s Sile OuaYH Apo Northwest view of rear portion of remnant View of Subject Prom Mamalahoa Highway k`~... r v, Nq I- Farm PIC4~5.SN - ROTAL to Wirgows' appraisal sdMare by a b rode, im. -1-800-ALAMOOE Comparable Photo Page Bortower/CNent G. RiGc Robinson Pro Address Olt MemalaMa Hghwav _ _ C Kedua-Kona Cou Hawaii _ - Lender G. Rick Robinson - Stale M _ _ Zlo Cade 96740 Comparable 1 371-O5-Remnam Proumlry Pdjoins Sublect Sale Pdce 0.119 ~w.' ~ GLA s.titi'. Tohl Pooms Total Bedrms Total Bathrms Laagon Puuanahulu Mew 6.665M290327st Stle Ouallry age ' - Comparable 2 371.05-12 PmumAy i/4 Mile NE ' k Sale Prke 0.25 / GLA y ~ Total flooms Y,, ToW Bedrtns ~ ~ Total Bamrms v Location puuanahulu t Vlew 0.93Pay40467sf Sde Oualdy Age ~ Comparable 3 ~rt - 382-01-Portbn of 133 v Proumily Approx 30 Atiles SE Sale Pace 0.055 a 1~4~ V' • Tota' Pooms ' P ' Total Bedrms Total Belhrms Locaton Captain Cook View 0.&12M/38678sf Bile OuaNy Age Form PICAx6.Cfl -'TOTAL 20(10 M Windows'+PPrelBal sodware ny a K nptla, Inc. -1-B00.ALAMODE o_ ~ . , . . _ _ ~ _ / _ / z e' _ ~ , / _ - ~ ~ _ ~ ~ s~ _ ~ it e~ tia ~ u ~ ~I ~ u 3 ~ ~ ~ _ ~ 4f/~ J ~Ve °s obi ~ ~'~--a~`5 - I a../:: e.o, rr~,. "..I OI I~ 'c ~ III ~ _ ~ 5 j ~ IL s' L~ J _ i ,eo> cS o~ r - ii ii ,s ~ ~ ~a_ \ / s_ L ~ 'l I , , I a.x- v w ~ ~ o'. z « ~ ~ in3-ru~ v ..+nwaii _ .~?L YT. l.._ - ~J"_, .n mot[..[-i:, ew i ....o 361 ' 155166 0050 C _I LEGEND r-- "155166 0025 C , i I i NF - ~iIAN nuoxn noao lxmuxn rmww~ ~i Isslss olzs c f~RM ~ n~ ~ ifnxx" 5 16 IOOG fL000 IIISUNAIIC[ NAII hlAl' ~.,m i J :n nn~[~,xl, - ~~~~~~~~~~~"'i, eii ii e,i~ iJ()1~ iXli/.11Ew 0i iMLCOMMVNIIV i /Kulnla .LS IHSfiAOM N.tlEL 155141 /x LA Pnron IlonK IVAIPIO 9i6~ MAP INDEX ~ I! ~ w, and - eI i ~ . c .55td r STREET INDEX ~ j ~ ~ v " r - - ~ t rwrv We [OMMUNIII~ ~ rc~s E~~owr S I AN[L NOMO[NS n n iVV O"i.nxa ic.eeuanoa uu - Iq A,en°.be IOS.4L WOL 1000 x Flownt1O unrnv I oi'( n~lua Ircu (yniMnl nu 0.nervx o `y, mxL i. i~[i~ x,ur,vu,v: nn v W t o •155166 0325 C \'155166 0350 p ~ nsmwx eo o.ii.,,ae~ e'rte Dane ~i _ _.m: ~ ~1 SOVTII KOH ALF. ~ ~I ~ I ~ ''I ~ ' ~~f / - ~ -i~~ Iral ' `pp~~ ° '155166 0525~C~ '1S`i66 .550~C '155 6 0575 1'~I e^n~. ~i.~i..i. ~,(\I'~r// ~ Marina ,.,L.°," s a r~ I Subject ii ~ n.,iee o;;~..,x~ ,,.tl:'~~~'xf ~i y I I „rv,,,~:~ - ' p ~ ~ - I '1a51G6 0150 C I 155'66715 C '155166 0600 i.,i ii wne_ _ ~ ~ , e n~~e - ' - ' ~ NOItTIi °i~_ ~ _ , 9~1~ ~ Polo YUlo~ TnininL ~ ~ / I~ ~ ~ ~ VONA ~ MJiu1 Rae n ~ Yk Ill ~ii~ilnll ()rn eF~^'i ~ - -]~~~-~1 ,,,,,r ~ I ~ ..,tier loon r I •iSS1FF t09Se _.,iy....~M ~ ~~~.tS A PACE 39 ~ PU'U. NAIiU I,U~ D L 1 MILE ~ - pig /dnrid J"~ Co iiry Club norm+s d~~~` COmp r 9 ~i~,,,d 1 v p" ~a m a Sub?~t ' G Puu Lan. RuncF ' _ 4~'~i ~.~d °i!G QJ _ _ _ ~~o Q( i _ l ~ i J ~'~~a. ` I,L ' ~ o p c ' ~ I y IU~ ~ unnv h, rA P r lu s o- ~C 1\ r' J n ,.c ua a° - ~o^ O~ o M i ~ T R lf]~ P ~ h p4 1 iF ~i01 ~ _ u~~~r ~~r,. n --c:' c .a~°< c' " n ~ u ~ c > ~