Location: Trust Land Status
STATE OF HAWAII DEPARTMENT OF LAND AND NATURAL RESOURCES Land Division Honolulu, Hawaii 96813 Board of Land and Natural Resources GL S-5 844 State of Hawaii Honolulu, Hawaii Hawai'i Authorize Chairperson to Execute "Landlord Waiver and Consent; Exhibit A" Regarding Lessee's Security Agreement with Access Point Financial, Inc. to Facilitate Financing of Furniture, Fixtures and Equipment at Grand Naniloa Hotel Hilo; General Lease No. S-5844, WHR LLC, Lessee; Waiakea, South Hilo, Hawaii, Tax Map Keys: 3rd/ 2-1-01:12 and 2-1- 05:13, 16,17,27,32,46 LEGAL REFERENCE: Chapter 171, HRS, including but not limited to sections 171-6, and -22; terms and conditions of the subject Lease. LOCATION: Portion of Government lands situated at Waiakea, South Hilo, Hawaii, identified by Tax Map Key: (3) 2-1-01:12 and 2-1-05:13, 16, 17, 27, 32, 46, as shown on the attached map labeled Exhibit 1. AREA: 68.926 acres (net area after exclusions), more or less. TRUST LAND STATUS: Section 5(b) lands of the Hawaii Admission Act DHHL 30% entitlement lands pursuant to the Hawaii State Constitution: NO CHARACTER OF USE: Hotel and golf course purposes. D-2 BLNR - Waiver and Consent Page 2 December 9, 2016 re GL No. S-5844 TERM OF LEASE: 65 years, commencing on February 1, 2006 and expiring on January 31,2071. ANNUAL RENTAL: $580,270.44 minimum base rent, or 2% of gross revenues, whichever is greater, due in semi-annual payments. REASON FOR REQUEST: To facilitate financing ofWHR LLC's purchase or leasing of furniture, fixhires and equipment for the Grand Naniloa Hotel Hilo.
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