HAR §15-308-174
HAR §15-308-174. General lease provisions
Cite as Haw. Code R. § 15-308-174
( a )
The
corporation shall consent to mortgages as stated in
the lease .
(b)
The corporation ' s consent shall be required
prior to any improvements installed on the land as
stated in the lease .
( c )
The lessee shall pay for all costs when
necessary to determine the lessee ' s equity in the
property .
[Eff 1 /15/22 ; comp
DEC 1 0 2022 1
(Auth :
3 0 8 - 5 5
I
}
HRS §201H-4)
(Imp:
HRS §§201H-5, 201H-9, 201H-12,
201H-15, 201H-22)
§15-308-175
Extension of fixed rent period or
lease term for mortgage purposes.
(a)
The
corporation may extend the fixed rent period or term
for mortgage purposes.
The corporation may adjust the
lease rent for the current fixed periods and the
extended period as conditions of allowing the
extension.
(b)
The extended lease rents shall not be used
in the valuation of the purchase of the leased fee
interest of the land.
(c)
The corporation may charge fees for the
extension application.
Such fees shall be as
presented in §15-308-7.
(d)
The lessee shall pay for all costs
associated with the extension.
[Eff 1/15/22;
comp
DEC 1 0 2022 ] (Auth: HRS §201H-4)
(Imp:
HRS
§§201H-5, 201H-9, 201H-12, 201H-15, 201H-22)
§15-308-176
Sale of leased fee interest of the
land.
(a)
The corporation may sell the leased fee
interest of the land according to the terms of the
lease, or state statutes, as applicable.
(b)
The original terms of the lease or revised
terms and conditions mutually agreed upon in writing
shall be used to value the leased fee interest of the
land.
(c)
The corporation may sell the leased fee
interest of the land for the project, or for
individual lots.
(d)
The lessee shall pay for all costs to
purchase the leased fee interest of the land."
[Eff 1/15/22; comp
DEC 1 O 2022 ] (Auth: HRS §201H-4)
(Imp:
HRS §§201H-5, 201H-9, 201H-12, 201H-15, 201H-
22)
308-56
HRS §201H- 4 ) ( Imp :
HRS §S2 01H-5, 201H- 9 , 2 0 1H-12 ,
2 01H- 1 5 , 2 01H-22 )
§15-308-175 Extension of fixed rent period or
lease term for mortgage purposes .
( a )
The
corporation may extend the fixed rent period or term
for mortgage purposes .
The corporation may adj ust the
lease rent for the current fixed periods and the
extended period as conditions of allowing the
extension .
( b )
The extended lease rent s shall not be used
in the valuation of the purchase of the leased fee
interest of the land .
( c )
The corporation may charge fees for the
extens ion application .
Such fees shall be as
presented in