HI Lease-Assignment (Quitclaim) 1

THIS ASSIGNMENT, made this _________ day of ___________, 20_______, by _____________________, unmarried, hereinafter called the "Assignor", and ___________________, unmarried, and _________________, unmarried, both of whose address is ________________________________, hereinafter called the "Assignee",

WITNESSETH:

In consideration of the sum of ONE DOLLAR ($1.00) paid by the Assignee to the Assignor, the receipt of which is hereby acknowledged, and in consideration of the covenants of the Assignee herein contained, the Assignor does hereby remise, release, and quitclaim to the Assignee all of the estate, right, title and interest of the Assignor in and to the lease described in Exhibit "A" attached hereto and made a part hereof.

And all of the estate, right, title and interest of the Assignor in and to the land thereby demised, and all buildings, improvements, rights, easements, privileges and appurtenances situated on or built on or used, occupied and enjoyed in connection with said lease and the land thereby demised.

TO HAVE AND TO HOLD the same unto the Assignee according to the tenancy hereinafter set forth, for and during the remainder of the term of said lease.

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 performed by the Lessee therein named.

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 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 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 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 therein and any amendments thereof.

In consideration of the covenants of the Assignee set forth herein, the Lessor, by joinder herein, if any, or by a separate consent attached hereto, if any, does hereby consent to this assignment upon the express condition, however, that, to the extent permitted by law and said lease, all rights of the Lessor under said lease, all rights of the Lessor under said lease against the Assignor are reserved and that this consent shall not authorize nor be deemed to authorize any other or further assignment of said lease, except as therein provided, not be construed as a waiver of any of the terms, covenants or conditions in said lease contained and on the part of the Lessee to be observed and performed.

The assignment herein set forth is expressly declared to be in favor of the Assignee, as joint tenants, with full rights of survivorship.

IN WITNESS WHEREOF, the undersigned have executed these presents as of the day and year first above written.

___________________________________

Name

"Assignor"

___________________________________

Name

___________________________________

Name

"Assignee"

STATE OF HAWAII)

) SS

CITY AND COUNTY OF _______________)

On this ____________ day of __________, 20_______, before me personally appeared

____________________, an unmarried person, ____________________, an unmarried person, and _______________________, an unmarried person to me known to be the persons described in and who executed the foregoing instrument, and acknowledged that they executed the same as his free act and deed.

____________________________________

NOTARY PUBLIC, State of Hawaii

My commission expires: ________________