Escrow Agreement and Amendments

AuthorizedSignatory

DerekSmith

AMENDEDANDRESTATED ESCROWAGREEMENT for SALEOFRESIDENTIALLOTS

THISAMENDEDANDRESTATEDESCROWAGREEMENT("Agreement"),made this___dayof___________,2022,isbyandbetweenTITLEGUARANTYESCROW SERVICES,INC.,aHawaiicorporation,whoseprincipalplaceofbusinessandpostoffice addressis235QueenStreet,Honolulu,Hawaii96813,hereinaftercalled"Escrow,"and TIMBERKAUAILAGOONSSUB4,aDelawarelimitedliabilitycompany,whoseprincipal placeofbusinessandpostofficeaddressis3770Ala'oliWay,Lihue,Hawaii96766,hereinafter called"Seller."

RECITALS:

WHEREAS,the'subdivision(the"Subdivision")islocatedinKalapi,Lihue, CountyofKauai,StateofHawaii,withinthemaster-planned nas"Hoala";

WHEREAS,theSubdivisionwillbecomprisedofTMKNos.(4)3-5-004-400through 424,inclusive,asshownontheTaxMapsoftheStateofHawaii;

WHEREAS,twenty-four(24)residentiallotsintheSubdivision(hereincalledthe"lots" andeach,a"lot")havebeenorwillbeofferedforsalebySelleranddevelopedandimproved withresidences;

WHEREAS,Sellerintendstoenterinto'PurchaseandSaleAgreements("Sales Contracts")forthesaleofthelots,eachlotuponwhicharesidencemaybeconstructed,the termsofwhichwillprovideforpaymentsonaccountofthepurchasepricetobemadetoEscrow, tobeheldanddisbursedbyEscrowpursuanttotheprovisionshereof;

WHEREAS,inconnectionwiththesaleofthelots,SellerandEscrowenteredintothat certainEscrowAgreementforSaleofResidentialLots,executedonAugust11,2021("Original EscrowAgreement"),asamendedbythatcertainFirstAmendmenttoEscrowAgreementfor SaleofResidentialLots,executedonNovember2,2022("FirstAmendment");

WHEREAS,theOriginalEscrowAgreementwasinadvertentlydatedJuly2021;

WHEREAS,theFirstAmendmentinadvertentlyidentifiedthepreviousnameofthe Subdivisionas" "ratherthan ";and

WHEREAS,thepartiesdesiretoamendandrestatetheOriginalEscrowAgreement,as amended,bytheFirstAmendment,initsentirety,inthemannersetforthinthisAgreement, which additionalchanges:

1.AddsanewSubsection(c)toSection3ofthisAgreement;and

2.AmendsthelastparagraphofSection3ofthisAgreement.

NOW,THEREFORE,thepartiesherebyamendandrestatetheOriginalEscrow Agreement,asamended,bytheFirstAmendment,initsentirety,assetforthbelow:

AGREEMENT:

ItisherebymutuallyagreedbyEscrowandSellerasfollows:

1.SalesContractsDepositedinEscrow.AsandwhenSellershallenterintoaSales Contractforthesaleofalot,SellershalldeliveranexecutedcopyofsuchSalesContractand anyamendmentstheretotoEscrow.EachSalesContractshallcontainthecorrectnames, mailingaddresses,andemailaddressesofthePurchaserorPurchasers,shallrequirethatall paymentstobemadethereundershallbemadetoEscrowandshallbeaccompaniedbytheinitial depositrequiredthereunder.

2.ReceiptofFundsbyEscrow.SellershallpayovertoEscrowanymonies receivedbySellerfromPurchasersunderSalesContractscoveringlotsintheSubdivision, includingalldisbursementsmadeonloancommitments,ifany,fromlendinginstitutionsto individualPurchasers.

IfanypaymentmadebyaPurchaserisin scrow,then SellerorSeller'sagentsmayholdthemoniesuntiltheexpirationoftheseven(7)-dayrescission periodoranylongerPurchasercancellationperiodprovidedintheSalesContract.Sellershall acceptnocashpayments.Escrowshallreceiveandholdinescrowanddisburseashereinset forth:(a)allpaymentsreceivedbyEscrowunderSalesContractsmadebySeller;(b)allsums receivedbyEscrowhereunderfromSeller;(c)allfundsfromanylendinginstitutionpursuantto amortgageloanforthepurchaseofanylotbyindividualPurchasers;and(d)allsumsreceived byEscrowfromanyothersourceonaccountofthisSubdivision.Inaccordancewithwritten instructionsfromSellerthatareacceptabletoEscrow,Escrowshalldepositallfundssoreceived, withinareasonabletimeoftheirreceiptbyEscrowandinreasonablyconvenientsums,intrust accountsatafeder orsavingsandloanassociationauthorizedtodobusinessin theStateofHawaii;provided,however,ifEscrowis fre icecharge foreachadditionaldepositmadedu

UnlessotherwiseprovidedinthisAgreement,anyinterestearnedonfundsdepositedin escrowunderthisAgreementshallaccrueasspecifiedintheSalesContractand,ifnotso specified,shallaccruetothecreditofSeller.IfEscrowisrequestedtoestablishaseparate accountforaPurchaser,Escrowshalldoso,thePurchasershallfurnishtoEscrowthe Purchaser'ssocialsecurityorfederalidentificationnumber,thePurchasershallpayEscrowafee of$50.00forsuchseparateaccountandanyinterestearnedonfundsdepositedinsuchaccount shallaccruetothecreditofthePurchaser.EscrowshallnotbeliabletoeitherSellerorany Purchaserforlossordiminutioninfundsinvestedinaccordancewithinstructionsgivento Escrow.

3.ReturnofFunds.EachPurchasershallbeentitledtoareturnofPurchaser'sfunds, andEscrowshallpaysuchfundstosuchPurchaser,asprovidedforinsuchPurchaser'sSales Contract,ifoneofthefollowinghasoccurred:

(a)EscrowreceivesawrittenrequestfromSellertoreturntothePurchaser thefundsofthePurchaserthenbeingheldhereunderbyEscrow;or

(b)EitherSellerorthePurchaserhasnotifiedEscrowofitsexerciseofany optiontocancelorrescindtheSalesContractpursuanttoanyrightofcancellationorrescission providedthereinorotherwiseavailabletoeitherSellerorPurchaser.

(c)APurchaserexercisestherightofrefundandcancellationofsuch Purchaser'sSalesContractpursuanttoHawaiiRevisedStatutes("HRS")§484-8.6(b)or §484-8.6(c).

UponthereturnofsaidfundstothePurchaserasaforesaidandtheexecutionofan escrowcancellationagreementbySellerandPurchaser,Escrowshallcancelitsescrowandtreat thePurchaser'sSalesContractascanceled,andthereuponSellerandPurchasershallnolongerbe obligatedundertheSalesContract.

UponcancellationofaSalesContractasspecifiedabove,acancellationfee commensuratewiththeservicesrenderedbyEscrowpriortosuchcancellation,uptoamaximum of$250.00,plusallcostsincurredbyEscrow,shallbecharged.Saidcancellationfeeandcosts shallbebornebythePurchaserasprovidedinthePurchaser'sSalesContract;provided, however,thatifthePurchasercancelsthePurchaser'sSalesContract(1)withinseven(7)days aftersigningthesame,or(2)pursuanttosubsection(c)above,asapplicable,thePurchasershall notbechargedsaidcancellationfee,andSellershallpaysuchfeeandcosts.

4.UnclaimedFunds.EscrowshallgiveeachPurchaserentitledtoareturnoffunds noticethereofbyregistered,certifiedorregularU.S.mail,postageprepaidaddressedtosuch PurchaseratthePurchaser'saddressshownontheSalesContractoranyaddresslatermade writingtoEscrowbysuchPurchaser.IfsuchPurchasershallnothaveclaimedsuch refundwithinsixty(60)days,Escrowshallescheatsuchunclaimedfundspursuantto HRS§523A,Escrowshallthereuponbereleasedfromanyfurtherdutiesorliabilityhereunder withrespecttosuchfundsandsuchPurchaser.

5.Closing.ExceptfortheSalesContractsandanynoteandmortgagethatistobe closedbythemortgageethereof,Escrowshallpromptlyanddiligentlyarrangeforandsupervise theexecutionofalldocumentsrequiredundertheSalesContractandshallpromptlyand diligentlyclosethetransactionsandperformsuchservicesasarenecessaryorpropertherefor. UponreceiptbyEscrowoftheconveyancedocument,allnecessaryreleasesofencumbrances, thefullamountofthepurchasepriceofthelot,anymortgageorotherinstrumentssecuring paymentbythePurchaserofallorpartofthepurchasepriceofthelotandthePurchaser'sshare ofclosingcosts,Escrowwillactwithdiligenceanddispatchto"close"thesaleofthelotby performingthefollowing:

(a)Escrowshallcausetherecordingofsuchreleases,conveyancedocument andmortgage,ifany;and

(b)Afterrecordation,Escrowmaycauseacopyofsaidconveyancedocument tobedeliveredtothePurchaserviaemailorU.S.Postalregularmail,thereleasesorpartial releasestobedeliveredtoSeller,ifrequestedinwriting,themortgage,ifany,tobedeliveredto

thePurchaser'slender,andallsumswithrespecttothepurchaseofthelottobedisbursedto SellerafterdeductionbyEscrowofSeller'sshareoftheclosingcosts.

6.DefectsinDocuments.Upontheclosingofeachsalestransaction,providedthat anyindividualmortgageinconnectiontherewithmaythenberecorded,ifitislegallypossibleto recordallotherclosingdocumentsandnoneisinanywaydefective,Escrowshallproceed promptlyandwithinfive(5)businessdays(exclusiveofthedayofclosing)torecordthe necessarydocumentstoeffectthetransferoflegaltitletothePurchaser.Ifforanyreasonitis determinedthatanydocumentnecessarytoclosethetransactionisdefectiveorcannotbe recorded,EscrowshallpromptlynotifySellerofsuchfactandEscrowshallusereasonable effortstoobtainthenecessarycorrections.If,foranycausebeyondEscrow'scontrol,the necessarydocumentscannotberecordedwithinsaidfive(5)dayperiodafterclosing,Escrow shallrecordthesamewithinfive(5)daysafterlearningthatthereasonthatpreventedtheir recordingnolongerexists.

7.Purchaser'sDefault.IfaPurchaserfailsto rowonor beforetheduedatethereofassetforthintheSalesContract,EscrowshallpromptlynotifySeller ofanysuchfailureonthepartofthePurchaser.IfSellersubsequentlycertifiesinwritingto EscrowthatSellerhasterminatedtheSalesContractinaccordancewiththetermsthereofand providestoEscrowsatisfactorycopiesofanynoticesofterminationsenttothePurchaserand receiptsthereforsignedbythePurchaser,EscrowshallthereaftertreatallfundsofthePurchaser paidonaccountoftheSalesContractasfundsofSellerandnotasfundsofthePurchaser. Thereafter,suchfundsshallbefreeoftheescrowestablishedbythisAgreementandshallbe heldbyEscrowfortheaccountofSeller.UponwrittenrequestbySeller,Escrowshallpaysuch fundstoSeller,lessanyescrowcancellationfee.Escrowshallthereuponbereleasedfromany furtherdutiesorliabilityhereunderwithrespecttosuchfundsandsuchPurchaser.

8.ProtectionofEscrow.InconsiderationofEscrowactingasescrowholder hereunder,itisagreedthatEscrowisrelievedfromallliabilityforactinginaccordancewiththe termshereof,notwithstandinganoticetothecontrarybySelleroranyPurchaserorthirdperson. EscrowshallnotberesponsibleforthevalidityorsufficiencyofanySalesContractsorother documentsreceivedbyitandshallbeentitledforallpurposestoassumethatthesamehavebeen signedbythepersonswhosesignaturespurporttobethereonandthatanywrittencertificationor instrumentsfromSelleraretrueandaccurate.

Ifanydisputeordifferenceshallariseorifanyconflictingdemandshallbemadeupon Escrow,Escrowshallnotberequiredtodetermine es, butEscrowmayawaitsettlementofthecontroversybyfinalappropriatelegalproceedingsor otherwiseasitmayrequire,orEscrow,atitssolediscretion,mayfileasuitininterpleaderinany courthavingjurisdictioninthematterforthepurposeofhavingtherespectiverightsofthe partiesadjudicatedandmaydepositwiththecourtanyorallmoniesheldhereunderwith deductionforEscrow'sreasonableattorney'sfeesandcosts.Uponinstitutionofsuch interpleadersuitorotheraction,depositingsuchmoneywiththecourt,andgivingnoticethereof tothepartiestheretobypersonalserviceorinaccordancewiththeorderofthecourt,Escrow shallbefullyreleasedanddischargedfromallfurtherobligationshereunderwithrespecttothe moniessodeposited.

SelleragreesandshallcauseeachPurchasertoagreetopayEscrowondemandandto indemnifyandholdEscrowharmlessfromandagainstallcosts,damages,judgments,attorneys' fees,expenses,ob dnaturereasonablysufferedor incurredinconnectionwithorarisingoutofthisescrow,including,butnotlimitedto,allcosts andexpensesincurredinconnectionwiththeinterpretationofthisAgreementorwithrespectto anyinterpleaderorotherproceeding,andexcludingalloftheforegoingthatistheresultofany actoromissionbyEscroworitsagentsthatisnotgenerallyacceptedintheHonolulubusiness communityasareasonablebusinesspractice.Uponpaymentthereof,theprevailingpartywillbe subrogatedtoEscrow'srighttojudgmentforsaidcosts,damages,judgments,attorneys'fees, expenses,obligation natureagainstthirdpersons.

9.BindingEffect.ThisAgreementshallbebindingupon,shallapplytoandshall inuretothebenefitofthepartiesheretoandtheirrespectiveheirs,devisees,personal representatives,successorsandassigns.

RightsunderthisAgreement,althoughbindingonPurchasers,maynotbe enforcedagainstPurchaserssoastorequireaPurchasertoclosetheirtransactionuntilafinal orderofregistrationisenteredbytheDirectoroftheDepartmentofCommerceandConsumer Affairs,andtherequirementsofeitherSection484-8.6(b)or(c)oftheHRS,ifapplicable,have beenmet.

10.Termination.ThisAgreementmaybeterminatedbyeitherpartyheretoupon fifteen(15)dayswrittennoticetotheother.

11.ControllingLaw.ThisAgreementshallbegovernedbythelawsoftheStateof Hawaii.

12.ReportsandBillingsbyEscrow.EscrowshallfurnishSellerwithasemi-monthly Seller'sreportthatwilldescribethestatusofeachSalesContractinescrow.Sellershallgive noticeinwritingtoEscrowoftheoccurrenceofeacheventthatinitiatesanobligationofa apaymenttoEscrowpursuanttotheSalesContractaswellasnoticeofthe amountandduedateofsuchpayment.EscrowshallthereuponpromptlybilleachPurchaserfor paymentsdueunderthePurchaser'sSalesContractorgivenoticeoftheobligationtobe performed.

13.CompensationofEscrow.ThecompensationofEscrowforperformance hereundershallbeasshowninExhibitAplusapplicableHawaiigeneralexcisetax,foreachlot intheProject.Escrowshallalsoarrangefortheissuanceofatitleinsurancepolicy(standard owner'sand/orALTAlender'spolicy)forthesumasshowninExhibitAforeachlotinthe Project.Theaboveescrowandtitlefeesshallremainfixedforaninitialperiodoftwoyearsand thereafteruntilEscrownotifiesSellerofanincreaseinsuchfees.Thetitleinsurancepremium rate,however,maybesubjecttochangesifreinsurancerateschangeorifspecialendorsements oradditionaltitleservicesarerequested.Ifadditionalescrowortitl notpertaintothesalescontract,wereservetherighttochargeadditionalfees.Anadditionalfee of$150.00shallbechargedtothepurchaserforeachmortgageobtainedbythepurchaserifthe purchaserdoesnotobtainamortgageloanfromalenderdesignatedbySeller.Shouldthe purchaserobtainamortgageloanfromanout-of-statelender,afeeof$250.00shallbecharged

tothepurchaserforeachmortgageobtained.Ifanescrowinvolvesa1031Exchange,Escrow hastherighttoassessadditionalfeesco olved.

Escrow'scompensationshallbecomedueandpayablewithrespecttoalotuponthefirst tooccurofthefollowingevents:(1)thetransfertothePurchaserofsuchlotoflegaltitle thereto;or(2)finaldisbursementofthefundsheldinescrowinconnectionwithsuchlot.If Escrowshallforanyreasonwithoutfaultonitspartberequiredtochangesubsequenttothe commencementofapreclosingorclosinganyclosingstatementordocumentpreviously approvedastoformandfiguresbySeller,Selleragreestopayanadditionalchargeof$30.00for eachsuchstatementordocumentthatischanged.

14.DocumentPreparation.Alllegaldocumentsrequiredfortheconveyanceofunits intheProjecttopurchasersshallbeprepared Asato,LLLC("IA").Escrowshall sendIAanyordersforthepreparationofanysuchdocumentsatleast48hoursinadvanceorat theearliesttimepracticable.

15.NoPartyDeemedDrafter.Nopartyshallbedeemedthedrafterofthis Agreement.IfthisAgreementiseverconstruedinacourtoflaw,suchcourtshallnotconstrue thisAgreementoranyprovisionhereofagainstanypartyasdrafter.

16.Severability.Ifanyterm,covenantorconditionofthisAgreementorthe applicationthereoftoanypersonorcircumstancesshall,toanyextent,bedeclaredillegal,void, invalid,ineffectiveorunenforceableforanyreasonbyanycourtorotherauthorityofcompetent jurisdiction,theremainderofthisAgreementortheapplicationofsuchterm,covenantor conditiontopersonsorcircumstancesotherthanthoseastowhichitisheldillegal,void,invalid, ineffectiveorunenforceableshallnotbeaffectedtherebyandeachterm,covenantorcondition ofthisAgreementshallbevalidandbeenforcedtothefullestextentpermittedbylaw.

17.Counterparts.ThisAgreementmaybeexecutedinanynumberofcounterparts andbydifferentpartiesinseparatecounterparts,eachofwhichwhensoexecutedshallbe deemedtobeanoriginal,andallofw ituteoneandthesame agreement,bindinguponallofthepartieshereto,notwithstandingthatallofthepartiesarenot signatorytotheoriginalorthesamecounterparts.Forallpurposes,including,without limitation,recordation,filinganddeliveryofthisagreement,duplicateunexecutedand nowledgedpagesofthecounterpartsmaybediscardedandtheremainingpagesassembled inonedocument.

INWITNESSWHEREOF,thepartiesheretohaveexecutedthesepresentsthedayand yearfirstabovewritten.

(Theremaindero .)

TITLEGUARANTYESCROWSERVICES,INC.

By ChristopherP.Aguilera ItsSeniorVicePresident (Escrow)

TOWERKAUAILAGOONSSUB4,LLC, aDelawarelimitedliabilitycompany

By:TowerKauaiLagoons,LLC, aDelawarelimitedliabilitycompany Its:Member

By: Name: Title:AuthorizedSignatory

TaejoKim RyanDelaney

By: Name: Title:AuthorizedSignatory

(Seller)