Haw. Code R. § 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.

Notes

Haw. Code R. § 15-308-175

[Eff 1/15/2022] (Auth: HRS § 201H-4) (Imp: HRS §§ 201H-5, 201H-9, 201H-12, 201H-15, 201H-22) Comp 12/10/2022