LAND COURT REGULAR SYSTEM AFTER RECORDATION, RETURN BY: [ ] MAIL [ ] PICKUP TO: Tax Map Key No. ASSIGNMENT OF LEASE THIS ASSIGNMENT, made this day of,, by and between, hereinafter called the Assignor, and, whose address is, hereinafter called the Assignee. W I T N E S S E T H T H A T : In consideration of the sum of TEN DOLLARS ($10.00 and other valuable consideration paid by the Assignee, the receipt of which is hereby acknowledged by the Assignor, and in consideration of the covenants and agreements of the Assignee hereinafter expressed, the Assignor does hereby sell, assign, transfer, set over and deliver unto the Assignee all of the estate, right, title 1
and interest of the Assignor in and to the lease described in Exhibit "A" attached hereto and made a part hereof. TO HAVE AND TO HOLD the same unto the Assignee according to the tenancy hereinafter set forth, for and during the remaining portion of the term of said lease, absolutely. SUBJECT, HOWEVER, to the payment of the rents reserved by said lease and subject also to the observance and performance by the Assignee of all of the covenants and conditions contained in said lease which are or ought to be observed and performed by the Lessee therein named; SUBJECT, ALSO, to all of the terms, covenants, conditions and restrictions set forth in the Declaration of Horizontal Property Regime and the Bylaws referred to in Exhibit A, as the same may from time to time be amended. In consideration of the foregoing, the Assignee does hereby covenant and agree to and with the Assignor and to and with the Lessor of said lease that the Assignee will, effective as of and from the date of the execution and delivery of this instrument and during the residue of the term of said lease, pay the rents thereby reserved as and when the same become due and payable pursuant to the provisions of said lease, faithfully observe and perform all of the covenants and conditions contained in said lease which from and after the date of the execution and delivery of this instrument are or ought to be observed and performed by the Lessee therein named, and at all times hereafter indemnify and save harmless the Assignor and the Lessor from and against the nonpayment of said rents and the nonobservance or nonperformance of said covenants and conditions and each of them. The Assignee does hereby covenant and agree, for the benefit of the owners from time to time of all other apartments in the horizontal/condominium property regime described in Exhibit A attached hereto, to observe and perform at all times all of the terms, provisions, covenants, conditions, agreements, obligations and restrictions set forth in the Declaration and Bylaws referred to in Exhibit A, as the same may from time to time be amended, on the Assignee s part to be observed and performed as and when required to do so, and to indemnify and hold and save harmless the Assignor from any failure so to observe and perform any of such terms, provisions, covenants, conditions, agreements, obligations and restrictions. The assignment herein set forth is expressly declared to be in favor of the Assignee, as. The rights and obligations of the Assignor and the Assignee shall be binding upon and inure to the benefit of their respective heirs, devisees, personal representatives, successors and permitted assigns. All covenants and obligations undertaken by two or more persons shall be deemed to be joint and several unless a contrary intention shall be clearly expressed elsewhere herein. The term lease herein shall mean and include any lease or sublease described herein and any amendments thereof. 2
IN WITNESS WHEREOF, the Assignor and the Assignee have executed these presents on the day and year first above written. Assignee Assignor 3
STATE OF HAWAII CITY AND COUNTY OF HONOLULU SS. On this day of,, before me personally appeared, to me personally known, who, being by me duly sworn or affirmed, did say that such person(s executed the foregoing instrument as the free act and deed of such person(s, and if applicable in the capacity shown, having been duly authorized to execute such instrument in such capacity. Print Name: Notary Public, State of Hawaii My Commission Expires: 4
EXHIBIT A End of Exhibit A 5