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HomeMy WebLinkAboutCOM 0267.000 2004-2006 ~tY Or N~4 Harry Kim Y William Takaba ylelg. hlaror Director' • Nancy E. Crawford .9~ ~i Depml' Duec~or ~T~ D~~NjJ County of Hawaii Finance Department 2? Aupum StrcG. Koom I IS • I lilo- I lawefi 9fi72U (808)961-8234 • Fa.~(RO81961-8248 May 2, 2005 ~ tECE s~ ~ Stacy K. Higa, Chairman and _ ' ~ aS Members of the Hawaii County Council ~ ' Hawaii County Council 25 Aupuni Street Hilo, Hawaii 96720 Re: Resolution for multi-year lease Enclosed is a resolution authorizing the Department of Research and Development to enter into amulti-year lease for five (5) years for office space in Kona. This office will serve as the centralized location for the department's Kona staff, will provide space for a Resource Center to serve the west side, and will provide for an office for the Mass Transit Agency to serve North and South Kona. If there are any questions, please do not hesitate to call the Department of Research and Development. William Takaba Director of Finance APPROVED: Harry Kim Mayor Enc. cc: Research & Development ~d• q 7-OS ~ Comm. No. 2_ ~O Ref. To;_ Hawaii County is an Equal Opportunity Provider and Employer ~~f' Jpt@ MI~i--~Cj 9r1(15 Form B-52 7/18/91 DEPARTMENT OF FINANCE REQUEST FOR COUNCIL ACTION DEPARTMENT: Research and Development DATE: April 29 2005 STAFF CONTACT: Jane Testa PHONE: 961-8368 A. REQUEST: Resolution authorizing the payment of funds of a later fiscal year and of more than one fiscal year fora multi- year lease for Kona office space for the Department of Research & Development. B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED)' The proposed Kona office will provide a centralized location for Research and Development's Kona staff. The Film Specialist and Resource Center Specialist are currently occupying space in the Mayor's Kona office and the Prosecutor's Kealakekua office, respectively. Further it would provide space for a Resource Center to serve the west side, as well as an office for Mass Transit to serve North and South Kona. R 8 D would like to lease a 1,025 sq. ft. space in the Lanihau Professional Building located at 75-5591 Palani Road, Building LC in Kona. The lease terms according to a Letter of Intent dated April 7, 2005 are as follows: Lessor: Frame 10, a Limited Partnership Location: Lanihau Professional Building at the Frame 10 Center located on 75-5591 Palani Road, Room 2001, Building LC, Kailua-Kona, HI 96740 Term: 5 years, commencing June 1, 2005; with the option to extend for 3 additional years. Area: 1,025 sq. ft. approximately Base Rent: $1.50/sq. ft. for 1st year; with subsequent annual increases thereafter to $1.57, $1.65, $1.73 and $1.82; net of all operating expenses. Shared expenses: Estimated shared expenses of $.72 per rentable sq. ft./mo. Tenant improvements: Landlord's responsibility to build out space according to tenant needs (cost for buildout are amortized over term of the lease). Refer to attached Letter of Intent for Commercial Lease. SIGNED: ~ ~ DATE: APR 2 9 2005 Depa t Head ® Reference Date: April 7, 2005 - Tenant's Initials: Landlord's Initials: H awa i'i Reviewed by ,Principal Broker/Broker-in-Charge, wha hereby certifies that this is a true imprint of the Hawaii Certified Commercial Investment Member Chapter standard form. This form is available for use by the entire real estate industry. The use of [his form is not intended to identify the real estate licensee as a CCIM.T Non-Binding Letter of Intent for a Commercial Lease Re: Lanihau Professional Building This letter of intent ("Letter of Intent") contains the terms and conditions under which the Landlord and the Tenant identified below propose to lease the premises described below. This Letter of Intent is not legally binding upon either Landlord or Tenant (other than [he terms of Sections 28 to 32 below which shall be binding upon the parties upon execution of this Letter of Intent by both Landlord and Tenant), notwithstanding anything to the contrary elsewhere in this Letter of Intent. IDENTIFICATION OF PARTIES: IDENTIFICATION OF BROKERS: Landlord: Frame 10, a Limited Partnership _ Landlord's Broker: Clark Realty Corporation Street Address: 75-5591 Palani Road, Suite 3008 Street Address: 75-5722 Kuakini Highway, Suite 214 Kailua Kona, HI., 96740 _ _Kailua Kona, HI., 96740 Phone: (808) 329-0911 _ Phone: (808) 329-6446 Fax: (808) 329-0913 Fax: (808) 329-8102 E-mail: cpa@wlwong.com E-mail: oginhi@verizon.net Tenant: _County of Hawaii- R and D Tenant's Broker: Clark Realty Corporation Street Address: 25 Aupuni Street, Rm 109 Street Address: 75-5722 Kuakini Highway, Suite 214 Hilo, HI., 96720 Kailua Kona, HI. 96740 Phone: (808) 961-8366 Phone: (808) 329-6446 Fax: (808) 935-1205 Fax: (808) 329-8012 E-mail: jtesta@co.hawaii.hi.us _ E-mail: oginhi@verizon.net NON-BINDING PROVISIONS Check and fill in applicable provisions. Any pro visions not checked or filled in are not applicable. tt DESCRIPTION OF PREMISES n. General Description: (TMK: (3) 7 -_5 - 4 : 45 ? portion) ? The space (the "Premises") identified as ? Room/Space No. on the 2nd floor in the ? building OR ? shopping center known as Frame 10 Center _ located at 75-5591 Palani Road Building LC Kailua Kona, HI, 96740 (the "Project") ? The building (the "Premises") known as _ _ ,located at ? That certain real property (the "Premises") located at a. Rentable and Usable Square Fee[: The Premises are shown on the attached Exhibit A. Note: Attach this Exhibit ?J The Premises contain approximately rentable square feet and _ usable square feet. L77 ~fhe actual square footage of the Premises shall be determined Ct~by Landlord ? by Tenant ? prior to the Term Commencemenj Date (defined below) l41 after completion of tenant improvements ? _ pursuant to [1~ the Standard Method for Measuring Floor Area in Office Huildings (ANSI/BOMA 265.1, 1996); ~~x3CLSgU:ara fnnta~flln ha ralrulat@rl ii~nn ygtPPma___nt hv.Lanrilnrrl anri Tr Want of _'j~;patg_cn~ ac0_plafig. l~ The Premises consist ofapproximately?__1,025___ squarefeet? _acres. 0%2000 HAWAII CCIM. ALL RIGHTS RESERVED. Any unauthorized copying,transmission,display, uploading, distribution or Page 1 adaptation is snictly prohibited and will result in liability of up to $ ISQ000. Permission to photocopy denied. Reference Date: April 7, 2005 _ Tenant's Initials: Landlord's Initials: z~ CONDITION OF PREMISES ? Tenant has inspected the Premises and agrees to accept the Premises in its existing "AS IS"condition. ? Tenant shall have the period of time (the "Inspection Period"), commencing at 8 a.m. HST on the day after the date of this Letter of Intent to .m. HST on , to inspect the Premises. Landlord shall allow Tenant reasonable access to the Premises, during normal business hours, during the Inspection Period. Landlord shall provide Tenant with copies of the following documents for review during the Inspection Period: - Flnnr nhn ui Th Tnnnn}e enor'4'rn4'nnc 4n he h il} n f by i onrllnrri and amartized over lease-period ? ? Landlord ? Tenant shall be responsible for obtaining a certificate of occupancy for the Premises. al PARKING l~ Applicable ? Not Applicable l~ Tenant shall have the right to use reserved parking spaces and 2 unreserved parking spaces located ? in the Project OR ? ? The parking plan and the location of [he reserved parking spaces, if any, are shown on Exhibit ? Tenant shall pay the following additional rental for the use of such spaces: ? a monthly fee of $ per space. ? a monthly fee of $ per unreserved space. ? a monthly fee of $ per reserved space. ? _ ? Parking shall be at prevailing rates. Current monthly rates per stall per month are $ for each reserved stall, and $ for each unreserved stall. ? No employee parking shall be allowed. aI PERMITTED USE Tenant shall use the Premises for the following uses only: Ten an[ is solely responsible for confirming (a) that Tenant's proposed use of the Premises is permitted under applicable zoning and other laws; (b) [hat [here is sufficient parking for such use; and (c) that Tenant will be able to secure the necessary approvals for Tenant's signage, if any. sl INITIAL TERM The term of the lease shall be for a period commencing on [he date of the lease and ending _ 5 years and 0.0 months after [he following date (the "Term Commencement Date") (or the ? earliest 57!'latest of the following dates, if more than one date is checked): J June 1_2005 _ _ [[L the date of completion of construction of tenant improvements by ? Tenant Lafi~ ndlord ? the date that Tenant opens for business. Tenant shall have possession of the Premises on: cI OPTIONS TO EXTEND fad Applicable ? Not Applicable Tenant shall have 1 extension option(s) of 3 _ year(s) each upon _ 90_ calendar days' written notice prior to the expiration of the term of the lease at the following rental: ? to be determined by mutual agreement. G7~ equal to fair market rental value. vl BASEJ2EN'I' ~ The monthly base rent shall be as follows: $ 1.50 per rentable square foot June 1, 2005 to MaY 30 2006 1.57 _ _ per rentable square foot June 1, 2006 to May 30, 2007 $ _ 1.fiS per rentable square foot _ June 1, 2007 to May 30, 2008 $ 1.73 per rentable square foot June 1, 2008 to May 30, 2009 _ G,($ 1 82 per rentable square foot June 1, 2009_ to May 30, 2010 ? $ _ _ per rentable syuare foot to ? - S 2000 HAWAH CCIM. ALL RIGHTS RESERVED. Any unauthorized copying, transmission, display, uploading, distribution or Page 2 adaptation is strictly prohibited and will result in liability of up to $150,000. Permission to photocopy denied. Reference Date: April 7, 2005 Tenant's Initials: Landlord's Initials: ? The base rent shall be as follows: The base rent shall be: ? Inclusive of all operating expenses; OR Q~ Net of all operating expenses; ? [nclusive of operating expenses for the base year, with Tenant responsible for increases in operating expenses over the base year; Payment of base rent shall commence on the following date (the "Rent Commencement Date") (or the ? earliest ? latest of the follpwing dates, if more than one date is checked): Gf The Term Commencement Date set forth above. ? or the date that Tenant opens for business, whichever is earlier. ? [he date that Tenant opens for business. ? _ al CONCESSIONS ? Applicable NotApplicab[e A. Rent Abatements: ? Tenant shall be entitled to a rent abatement as follows: e. Other: - vl SHARED EXPENSES App/icable ? Not Applicable n. Estimated Percentage Share: ? _ Six _ percent ( 6.00%) G~to be determined s. Estimated Shared Expenses: $ 0.72 _ (estimated) per rentable square foot per month. f~ Tenant does not pay RPT in CAM. Landlord will get credit. c. Commencement Date of Shared Expenses: ? the Term Commencement Dale. L~ the Rent Commencement Date. lot TENANT IMPROVEMENTS G? Tenant improvements: Any improvements, alterations, or construction to the Premises (except as otherwise provided in this section) shall be at Tenant's sole expense and shall be in conformity with the terms of the lease and (if checked): ? the specifications attached hereto as Exhibit ? _ _ ? Tenant improvement allowance: Tenant shall receive a tenant improvement allowance in the amount of ? $ ? $ per rentable square foot on the following terms: d Landlord improvements completed Landlord improvements to the Premises are completed. Landlord work: Landlord shall do the following work on the following terms: ~-aftdlerd~e-create-space-plat}ascending-taTetaants-needsaad~i~eDtspase-bests-fen-buil~eut are to ~mnrfiocd n~mr Tcrm of Inocn I rll ri 4 4 ri ~ It' A 4 1 a' ' fa?f Other: 6artdlord~efe EafPet~pae2j f~~^~afnaged-eeikng441es. nt HAWAII GENERAL EXCISE'fAX Tenant shall also pay with each payment due under the lease an amount equal to the Hawaii general excise tax or any successor tax assessed against Landlord on such payment. tzl SECURITY DEPOSIT ? Applicable f>~ NotApp[icab/e Upon ? execution of the lease ? execution of this Letter of intent, Tenant shall deposit with ? Landlord ? Landlord's Brokcr a security deposit equal to the following: ? one month's base rent. ? plus one month's operating expenses ? $ _ _ _ ? plus General Excise 'fax (GET). J~2000 HAWAII CCIM. ALL RIGHTS RESERVED. Any unauthorized copying, transmission,display, uploading, distribution or page3 adaptation is strictly prohibited and wdl result in liability of up to $ 150,000. Permission to photocopy denied. Reference Date: April 7, 2005 _ Tenant's Initials: _ Landlord's Initials: ta) RETAILPROV[SIONS ? Applicable L~ NotApplieable a. Percentage Rent: _ _ percent ( of Tenant's gross sales for a lease year in excess of ? Base Rent ? $ ? .Percentage Rent is ? payable monthly and annualized. ? payable monthly without annualization. ? payable annually. ? payable s. Radius Clause: ? Applicable ? NotApp[icable ? Tenant is prohibited from opening a similar business within _ miles from [he Premises. c. Exclusive Use Clause: ? Applicable ? Not Applicable o. Opening and Continuous Operation Requirements: ? Applicable ? Not Applicable ? Tenant shall open for business no later than or [he Rent Commencement Date, whichever is earlier. ? the Rent Commencement Date. ? Tenant shall remain open for the following minimum hours: Monday through Thursday: _ _ _ _ _ Friday: - - Saturday: Sunday: e. Signage: _ _ - r. Advertising or Promotional Fund Contributions: $ /month. Tenant's obligation to make such contribution shall commence upon ? [he Rent Commencement Date; ? the'ferm Commencement Date; tat EXPANSION RIGHTS ? Applicable ~ NotApplicable Tenant has ? the option [o lease; ? the first right of refusal regarding additional space (the "Expansion Space") ? on Floors ; ? located adjacent to the Premises; ? shown on Exhibit , ? _ on the following terms: a. Time Period for Exercise of Right: ? term of the lease. a. Rent for Expansion Space: ? equivalent to rent per square foot for Premises. ? to be determined by mutual agreement. ? equal [o [he then cuttent fair market rental value. ? equal to bona-fide offer made by third-party. c. More than One Space a[ Issue: If more than one space is at issue, Tenant must exercise option as follows: ts> INSURANCE REQUIREMENTS Tenant shall carry the following minimum limits: w. Commercial General Liability: $ _ _ per occuttence and _ aggregate for bodily injury, death, and property damage, including liquor liability if liquor is sold. Landlord and Landlord's agent shall be named as additional insureds. a. Hazard: c. Other: - Tenant-is-s~lfansuredby-G©unYyaf-klawaiti-- V 2000 HAWAII CCIM. ALL RIGHTS RESERVED. Any unauthorized copying, transmission, display, uploading, distribution or page 4 adaptation is strictly prohibited and will result in liability of up to $15Q000. Permission to photocopy denied. Reference Date: _April 7, 2005 Tenant's Initials: Landlord's Initials: tet LANDLORD'S SERVICES Landlofd shall provide the following services and utilities: C~ air-conditioning; Compressor on roof is maintained by Landlord ? electricity; li~ water and other supplies for restrooms; Common area Only. ? janitorial service ? five days a week ? seven days a week ? _ _ automatic elevator service; [rash removal; from central location ? - LandloJd shall provide such services and utilities: C$ normal building hours. ? during the following hours: _ ? The cost of these services is included in the shared expenses paid by Tenant except for the following services which are paid for by Landlord: none__ _ ? Landlord will pay for these services without reimbursement by Tenant. ? Rules and Regulations are attachJed to this Letter of Intent. vt LANDLORD'S MAINTENANCE (H Applicable ? Not Applicable Landlord shall maintain theProject ? the building in which the Premises are located ? ? Landlord shall ? at Landlord's sole expense OR ? at Tenant's expense be responsible only for normal repairs to the structure and exterior of the - ? The cost of Landlord's maintenance is included in the shared expenses paid by Tenant. ? Landlord will pay for Landlord's maintenance without reimbursement by Tenant. rxt TENANT'S RESPONSIBILITIES Tenant shall maintain the Premises. Tenant shall provide the following at Tenant's sole expense: Grf its ownjani[orial services; L~ its own trash removal; l~ sorting of [rash for recycling; ? removal of trash from a central collection point; lt~ separate metering for electricity; ? separate metering for water; ? payment of its own real property [axes; Air handler in tenants space is tenants responsiblity. Quarterly maintenance reccomended. _ A/C maintenance in tenants space is tenant responsibility. w> SUBLEASING AND ASSIGNMENT Tenant may sublease or assign its interest in the Premises on the following terms: Ci~ Only with consent of Landlord, which consent shall not be unreasonably withheld. ? Only with consent of Landlord, which consent maybe withheld in Landlord's sole discretion. ? The foregoing notwithstanding, Tenant may sublease or assign all or part of its interest in the Premises to _ _ ? its affiliates ? its parent company ? any related entity. For purposes of this provision, any mergers, acquisitions, changes in ownership or control or changes in organizational structure, shall be deemed a sublease or assignment. ? Landlord shall have the right to recapture any space to be subleased or assigned by Tenant on the following terms: zap GUARANTIES "fhe lease shall be guaranteed by T9naAt - - - - zit APPROVALS l~ Applicable ? Not Applicable This Letter of Intent is subject to the following approvals, and [his Letter of Intent shall be null and void if such approvals are not received by _ _ _ _ _ ? Approval by the Landlord's board of directors or partners or _ _ l~ Approval by the'fenant's board of directors or partners or C_o_u_nty Council and Mayor ofHaw_aii Count~_ 0'2000 HAWAII CCIM. ALL RIGHTS RESERVED. Any unauthorized copying,transmission,display, uploading, distribution or Pages adaptation is strictly prohibited and will result in liability of up ta$ 150,000. Permission to photocopy denied. Reference Date: Apfil 7, 2005 Tenant's Initials: _ Landlord's Initials: zzl LANDLORD REVIEW OF TENANT FINANCIAL INFORMATION l~ Applicable ? Not Applicable Within calendar days of the date of this Letter of Intent, Tenant and any guarantors shall provide copies of the following [o Landlord for Landlord's review and approval: ? Federal and state tax returns for the past years; ? Financial statements for the past years; za ~ RECORDING THE LEASE AND PAYMENT OF CONVEYANCE TAX AND RECORDING COSTS Tenant shall pay any conveyance tax imposed in connection with [he lease. ? The lease may no[ be recorded. Qt Tenon[ may record [he lease, or a memorandum thereof on the following conditions: G~ "tenant pays all taxes and recording fees connected with such recordation. ? Tenant simultaneously delivers a termination of lease, in form and content reasonably satisfactory to Landlord, [o to be recorded a[ the direction of only Landlord upon [he expiration or other termination of the lease. za> SPECIAL CONDITIONS -F~ft6FTW6-y62fS-61-p21~-f6f}t~ -~8q iRipF9V8ftiBRtS- WIII-o.°-.-^pv a- ~ c.-8ft~l6f Jcacu_-__ - _ zst EXHIBITS AND ADDENDA Attached to this Letter of Intent are the following exhibits and addenda: Exhibit A: Depiction of the Premises ? Exhibit A: Parking Plan and _ ? zsl FORM OF LEASE d The initial form of lease shall be provided by Landlord. ? The initial form of lease shall be provided by Tenant. ? Within calendar days of execution of this Letter of Intent, the party responsible for preparing [he lease shall provide the other party with a form of lease. z~l BROKERAGE COMMISSION Lapolord shall pay the following brokerage commission: GT An amount set forth in a separate agreement signed by Landlord. The foregoing provisions of this Letter of Intent shall not be deemed an offer to lease, an agreement to negotiate, a lease or other agreement, to contain all necessary material terms, to be legally binding to any extent, or to confer any rights of usage or occuparscy. Rather, the foregoing provisions are subject to withdrawal and modifcation, at any time, by either party, without cause, and there .shall be no legal obligation with respect thereto unless and until the parties execute and deliver a formal lease agreement designated as such. No reliance, performance, change or loss of position, or other action or expectation now or hereafter made or incurred based upon any of those provisions, whether or not at the request or urging of the other party, shall be deemed to create any obligation or agreement of any type. BINDING PROVISIONS Check and fill in applicable provisions. Any provisions not checked or filled in are not applicable. Notwithstanding the foregoing, [he parties intend the following provisions to he legally binding: zat INDEMNIFICA'T'ION BY TENANT REGARDING F,XERCISE OF INSPECTION RIGHTS Tenant agrees [o indemnify, defend and hold Landlord, Landlord's Broker, and Tenant's Broker harmless from any actions, suits, liens, claims, damages, expenses, losses and liability for damage to personal property or personal injury to the extent arising from or attributable to any acts perfornted by'I'enant or its authorized agents in exercising Tenant's inspection rights, if any, under this Letter of Intent. This agreement to indemnify Landlord, Landlord's Broker, and Tenant's Broker shall survive any termination of this Agreement. Cep 2000 HAWAII CCIM. ALL RIGHTS RESERVED. Any unauthorized copying, transmission, display, uploading, distribution or Page adaptation is strictly prohibited and will result in liability of up to $150,000. Permission to photocopy denied. Reference Date: April 7, 2005 Tenant's Initials: Landlord's Initials: zvr CONFIDENTIALITY a. Confidentiality Obligation: fiI( The parties shall keep confidential each of the provisions of this Letter of Intent. ? Tenant shall keep confidential all information Tenant obtains from Landlord about the Premises, the building in which the Premises are located, and the Project. ? Landlord shall keep confidential all information Landlord obtains from Tenant about Tenant's financial condition, business strategy, plans, or marketing information. a. Exceptions [o Confidentiality Obligations: The parties' obligations of confidentiality shall be subject to the following exceptions if and to the extent [he information is already a matter of public knowledge; (2) if and to the extent [he information is acquired totally apart from the other party or its employees, agents or representatives; (3) if such disclosures as may be necessary to [he disclosing party's broker, lender, a[tomey, accountant, and space planner (collectively, "Permitted Confidants") on the condition that such party shall require each of its Permitted Confidants to keep that information confidential; and (4) if such disclosures as are required by law or by any litigation between [he parties hereto with respect to the Premises, the building in which the Premises are located, or the Project on the condition that prior to making any disclosures required by law, the disclosing party shall give the other party as much notice thereof as is legally permitted, along with a copy of the proposed disclosure. c. Binding Effect of Confidentiality Obligations: The foregoing duties of confidentiality shalt survive this Letter of Intent and continue until the ? earlier of (a) the date the lease contemplated hereby is fully executed and delivered, or (b)one year from the date of this Letter of Intent; OR ? aoI DISCLAIMER Neither CCIM nor any attorneys employed by CCIM to prepare this form shall be liable in any manner whatsoever to any person for any inaccuracies or omissions in [his form or in the use of this form. Persons using this farm are advised to consul[ an attorney, engineer, architect, accountant, or other appropriate professional for advice. nrt EXECUTION OF THIS LETTER OF INTENT w. Faxed Signatures: Faxed signatures shall be acceptable to both parties for [his Letter of Intent. a. Acceptance: If Landlord and Tenant do not execute this Letter of Intent by 5:00 p.m. HST on April 15 2005 this Letter of Intent shall be null and void. ~zl AGENCY DISCLOSURE w. Landlord's Broker: Landlord is represented by the company (and all its licensees and salespeople), if any, identified on page t above ("Landlord's Broker"). a. Tenant's Broker: Tenant is represented by the company (and all its licensees salespeople), if any, identified on page I above("Tenant's Broker"). c Additional Disclosures: Clark_Rt,.alty-isa~lual _ o. Acknowledgement by Landlord and Tenant: By initialing below, Landlord and Tenant acknowledge that oral or written disclosure of such representation was provided to them and that they have read and understand the agency disclosure set forth in A through C above and the disclaimers set forth in F and F below. Landlord's Initials: Tenant's Initials: e. Written Disclosures: Landlord's Broker and Tenant's Broker specifically disclaim any responsibility for, and Landlord and Tenant acknowledge that they shall not rely upon, any disclosures made by either Landlord's Broker or Tenant's Broker about the Premises or [he other party unless such disclosures are in writing and signed by the broker making [he disclosure. r. No Specialized Advice: Landlord's Broker and Tenant's Broker strongly recommend that [he parties consult an attorney, architect, accountant, building contractor, environmental specialist, or other appropriate professional for further assistance in gathering and analyzing information about the Premises and/or the other party and specifically disclaim any responsibility for providing such specialized advice. Cd 2000 HAWAII CCIM. ALL RIGHTS RESERVED. Any unauthorized copying,transmission,display, uploading, distribution or Page 7 adaptation is strictly prohibited and will result in liability of up to $150,000. Permission to photocopy denied. Reference Date: April 7, 2005 Tenant's Initials: Landlord's Initials: SIGNATURE(S) -Landlord SIGNATURE(S) -Tenant Frame 10, a Limited Partnership County of Hawaii-Rand D By - BY _ _ _ Its Its Dated: Dated: By - By Its _ _ _ _ _ _ Its _ Dated Dated: EXHIBITS ATTACHED Cc7 2000 HAWAII CCIM. ALL RIGHTS RESERVED. Any unauthorized copying, transmission, display, uploading distribution or page 8 adaptation is strictly prohibited and will result in liability of up to $15QW0. Permission [o photocopy denied.