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This announcement is published by OliverMcMillan Pacific Rim, LLC, a Hawaii limited liability company (the “Developer”), to announce that the final increment of 100 fee simple residential units in the SYMPHONY HONOLULU condominium project (the “Project”) will be offered for sale only to prospective “owner-occupants” (as defined in Part V, Section B of Chapter 514B of the Hawaii Revised Statues) who also meet certain eligibility requirements set forth in Title 15, Subtitle 4, Chapter 218 of the Hawaii Administrative Rules (the “Kakaako Reserved Housing Rules”). The Project is located at 888 Kapiolani Boulevard in Kakaako, City and County of Honolulu, State of Hawaii, and contains a total of 388 residential units and 1 commercial unit. The units in the Project are being offered and sold in increments. The 100 units identified below are the final increment and are all designated as “reserved housing units” under the Kakaako Reserved Housing Rules. The units will be offered and sold subject to various occupancy, income and other eligibility requirements, and will be owned subject to buy-back and shared equity restrictions enforceable by the Hawaii Community Development Authority (“HCDA”) in accordance with the Kakaako Reserved Housing Rules. These requirements and restrictions are outlined below. More information about eligibility requirements and ownership and transfer restrictions is available in the Developer’s reserved housing application materials. Owner-Occupant Eligibility Requirements. To qualify as an eligible owner-occupant buyer of a reserved housing unit, a prospective buyer: 1. Must be at least the age of majority (18 years old); 2. Must not have a majority interest in a principal residence or a beneficial interest in a land trust on a principal residence within or without the State of Hawaii for a period of three years immediately prior to the date of application for a reserved housing unit; 3. If married, the buyer’s spouse must not have a majority interest in a principal residence or a beneficial interest in a land trust on a principal residence within or without the State of Hawaii for a period of three years immediately prior to the date of application for a reserved housing unit; 4. If you have dependent children, your dependent child must not have a majority interest in a principal residence or a beneficial interest in a land trust on a principal residence within or without the State of Hawaii for a period of three years immediately prior to the date of application for a reserved housing unit; 5. Must intend to be the owner and occupant of the reserved housing unit; and 6. Shall not have record or history of conduct or behavior, including past rent payments, which may prove detrimental to other owners or HCDA. This criterion shall be applied within parameters set by federal laws on discrimination, including the Americans with Disabilities Act. Income and Asset Restrictions. In addition to the foregoing eligibility requirements, an eligible owner-occupant buyer’s maximum annual adjusted household income must not exceed $108,738 for a family of only one person, or $120,820 for a family of two or more persons. “Adjusted household income” means the total income, before taxes and personal deductions, received by all members of the prospective buyer’s household, including (but not limited to) wages, social security payments, retirement benefits, unemployment benefits, welfare benefits, and interest and dividend payments (but not including business deductions). Also, to be an eligible owner-occupant buyer, the buyer’s assets must not exceed $146,796 for a family of one person, or $163,107 for a family of two or more persons. “Assets” include, but are not limited to, all cash, securities, and real and personal property at current fair market value, less: (i) any outstanding liabilities secured by such assets, and (ii) any retirement accounts, and (iii) gifts to assist in unit down payments. Transfer and Shared Equity Requirements. If the buyer of a reserved housing unit wishes to transfer title to the unit within a period five years after the buyer acquires the unit, the HCDA will have a first option to purchase the unit under certain conditions and at a sales price based on a formula set forth in Section 15-218-36 of the Kakaako Reserved Housing Rules. If the buyer sells the reserved housing unit after the applicable five year buy-back period, or the HCDA elects not to repurchase the unit within the buy-back period, the HCDA shall be entitled to receive a share of the equity in the unit according to a formula set forth in Section 15-218-41, of the Kakaako Reserved Housing Rules. The 100 designated owner-occupant reserved housing units (including the current price ranges and applicable shared equity amounts for the units) are more particularly described as follows: The sale of the 100 reserved housing units in Symphony Honolulu will be offered in a sequential order to qualified prospective buyers as determined by a Lottery drawing to be held on Sunday, September 29, 2013, at 1:00 P.M. To be eligible to be included in the Lottery to determine the unit selection order a prospective buyer must submit a COMPLETED Reserved Housing Application Package no later than 5:30 P.M. on Wednesday, September 25, 2013. The Reserved Housing Application Package will contain: (1) the Symphony Honolulu Reserved Housing Owner-Occupant Registration Agreement, (2) a sample Pre-Qualification Letter from an approved project lender, (3) a Uniform Residential Loan Application Form, (4) the Affidavit of Intent to Purchase and Reside in a Designated Owner-Occupant Reserved Housing Residential Unit, (5) the Affidavit of Eligibility to Purchase a Reserved Housing Unit in the Symphony Honolulu Condominium, and (6) Information from each of the approved project lenders. Reserved Housing Application Packages may be obtained starting Saturday, August 31, 2013, at 10:00 A.M. at the Symphony Honolulu Sales Center, Honolulu Design Center, 1250 Kapiolani Blvd., Honolulu, Hawaii. Reserved Housing Registration Application Packages will not be available prior to the August 31st date so please do not attempt to obtain packages prior to that date. After you receive your Reserved Housing Application Package, read through the Eligibility Requirements carefully to make sure that you meet all of the requirements before you proceed to the next step. In order to be eligible, prospective buyers must complete all the items in the Reserved Housing Application Package; select a lender from the approved lenders; First Hawaiian Bank, Central Pacific Bank, or Honolulu HomeLoans, Inc.; and obtain a pre-qualification letter. The earliest date that a completed Reserved Housing Application Package can be returned is Friday, September 20, 2013 at 10:00 A.M. at the Symphony Honolulu Sales Center, Honolulu Design Center, 1250 Kapiolani Blvd., Honolulu, Hawaii. YOU MUST HAND DELIVER your completed Reserved Housing Application Package with your required supporting documentation to the Symphony Honolulu Sales Center between the hours of 10:00 A.M. and 5:30 P.M. beginning Friday, September 20, 2013 and ending at 5:30 P.M. on Wednesday, September 25, 2013, if you wish to participate in the Lottery system drawing. The Seller will not and cannot pre-review or pre-approve any Reserved Housing Application Package prior to the initial “turn-in” date and time. If you have submitted a COMPLETED Reserved Housing Application Package by 5:30 P.M. on September 25, 2013, you will be included in the Lottery, and based on the drawing order established through the Lottery you will be assigned a selection number that establishes your place in order to be offered the opportunity to select a reserved housing unit. The Unit Selection Event will take place on Saturday, October 5, 2013, at the Symphony Honolulu Sales Center, Honolulu Design Center, 1250 Kapiolani Blvd., Honolulu, Hawaii. Starting on Saturday, October 5, 2013 at 10:00 A.M., prospective buyers with selection numbers 1 thru 200 will be given an opportunity to select a designated reserved housing unit and sign a purchase contract. Should there be any unsold reserved housing units remaining after the unit selection event, then the Symphony Honolulu Sales Center will call prospective buyers assigned selection numbers 201 or higher in order and offer them an opportunity to purchase any of the remaining, unsold reserved housing units. This selection system shall apply until all reserved housing units in the Project are sold. The prospective buyers must attend the Unit Selection Event in person and also bring to the Unit Selection Event an initial deposit in the amount equal to five (5%) percent of the purchase price of the selected reserved housing unit which will be required to be paid at the time of signing of the purchase contract. Only personal or cashier’s checks made out to Title Guaranty Escrow Services, Inc. are acceptable. Wired funds will not be accepted. If you use a personal check to pay the initial deposit and that personal check is subsequently returned on account of insufficient funds, then, and in such event, your purchase contract will be cancelled. Information about the Project, HCDA eligibility requirements and restrictions, copies of the Reserved Housing Application Package, the Lottery system, and other project documents may be obtained at the Symphony Honolulu Sales Center between the hours of 10:00 A.M. and 5:30 P.M. each day beginning Saturday, August 31, 2013 and ending at 5:30 P.M. on Tuesday, September 24, 2013, for those wishing to participate in the Lottery. For further information, contact the Project Sales Office at (808) 596-8688. This announcement was prepared in compliance with the terms of the Kakaako Reserved Housing Rules. However, in the event of a conflict between this announcement and the Kakaako Reserved Housing Rules, the terms of the Kakaako Reserved Housing Rules shall control. OWNER-OCCUPANT ANNOUNCEMENT RESERVED HOUSING APPLICATIONS AVAILABLE TOMORROW 10:00 AM SYMPHONY HONOLULU SALES GALLERY Honolulu Design Center 1250 Kapiolani Blvd., 3rd Floor, Honolulu, HI 96814 Phone: 808.596.8688 Exclusive Project Broker: Heyer & Associates LLC Courtesy to qualifying brokers; see project broker for details. NOTICE: Obtain the Property Report required by Federal law and read it before signing anything. No Federal agency has judged the merits or value, if any, of this property. 888 KAPIOLANI BOULEVARD Artist’s Rendering *(The foregoing areas are in square feet and have been rounded up to the nearest whole square foot and may differ slightly from the areas disclosed in the Public Report for the Project. The Units do not have lanais.) **(These price ranges are subject to change by the Developer prior to entering into binding sales contracts.) ***(These amounts were determined based upon the price range estimates shown above and current market prices, and according to the provisions of Section 15-218-41, of the Kakaako Reserved Housing Rules. Actual unit shared equity amounts may be higher, depending upon market prices at the time of actual sale.) Ala Moa na Blvd. K a pi ola ni Blvd. Waikiki & Yacht Kewalo Magic Island Ward Centers Neal S. Blaisdell Center Ala Moana Beach Park Ala Ala Moana Center H1 92 Ward Ave. chbowl St. Piikoi St. S. King St. Queen St. Pensacola St. S. Beretania St. alakaua Ave. 1250 Kapiolani Blvd. SYMPHONY HONOLULU SALES GALLERY HONOLULU DESIGN CENTER 888 Kapiolani Blvd. Unit Shared No. of Approx. Net Living Sales Price Equity Amount *** Reserved Housing Residence Numbers Residence Type Bedrooms & Baths Area Sq. Ft.* Starting From** Range 801, 901, 1001, 1101, 1201, 1501, 1601, 1701 1801, 1901, 2001, 2101, 2201, 2301, 2401, 2501, 2601, 2701, 2801 A1 1/1 672 $390,000 $57,100 - $82,500 812, 912, 1012, 1112, 1212, 1512, 1612, 1712, 1812, 1912, 2012, 2112, 2212, 2312, 2412, 2512, 2612, 2712, 2812 A1R 1/1 672 $390,000 $44,800 - $70,200 802, 902, 1002, 1102, 1202, 1502, 1602, 1702, 1802, 1902, 2002, 2102, 2202, 2302, 2402, 2502, 2602, 2702, 2802 B1 2/2 922 $499,000 $78,500 - $87,300 811, 911, 1011, 1111, 1211, 1511, 1611, 1711, 1811, 1911, 2011, 2111, 2211, 2311, 2411, 2511, 2611, 2711, 2811 B1R 2/2 922 $499,000 $62,800 - $71,600 810, 910, 1010, 1110, 1210, 1510, 1610, 1710 C1R 2/2 1,142 $542,000 $187,000 - $218,500 806, 906, 1006, 1106, 1206, 1506, 1606, 1706 E1 2/2 1,052 $555,000 $143,000 - $174,500 808, 908, 1008, 1108, 1208, 1508, 1608, 1708 E1R 2/2 1,052 $555,000 $143,000 - $174,500

OWNER-OCCUPANT ANNOUNCEMENT RESERVED HOUSING …files.ctctcdn.com/7d0269c3301/07650f61-0c6d-40ec-a64b-3e8fe1d9d1b2.pdf · housing unit after the applicable fi ve year buy-back period,

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Page 1: OWNER-OCCUPANT ANNOUNCEMENT RESERVED HOUSING …files.ctctcdn.com/7d0269c3301/07650f61-0c6d-40ec-a64b-3e8fe1d9d1b2.pdf · housing unit after the applicable fi ve year buy-back period,

This announcement is published by OliverMcMillan Pacifi c Rim, LLC, a Hawaii limited liability company (the “Developer”), to announce that the fi nal increment of 100 fee simple residential units in the SYMPHONY HONOLULU condominium project (the “Project”) will be offered for sale only to prospective “owner-occupants” (as defi ned in Part V, Section B of Chapter 514B of the Hawaii Revised Statues) who also meet certain eligibility requirements set forth in Title 15, Subtitle 4, Chapter 218 of the Hawaii Administrative Rules (the “Kakaako Reserved Housing Rules”).

The Project is located at 888 Kapiolani Boulevard in Kakaako, City and County of Honolulu, State of Hawaii, and contains a total of 388 residential units and 1 commercial unit.

The units in the Project are being offered and sold in increments. The 100 units identifi ed below are the fi nal increment and are all designated as “reserved housing units” under the Kakaako Reserved Housing Rules. The units will be offered and sold subject to various occupancy, income and other eligibility requirements, and will be owned subject to buy-back and shared equity restrictions enforceable by the Hawaii Community Development Authority (“HCDA”) in accordance with the Kakaako Reserved Housing Rules. These requirements and restrictions are outlined below. More information about eligibility requirements and ownership and transfer restrictions is available in the Developer’s reserved housing application materials.

Owner-Occupant Eligibility Requirements. To qualify as an eligible owner-occupant buyer of a reserved housing unit, a prospective buyer:

1. Must be at least the age of majority (18 years old);2. Must not have a majority interest in a principal residence or a benefi cial interest in a land trust on a principal residence within or without the State of Hawaii for a period of three years immediately prior to the date of application for a reserved housing unit;3. If married, the buyer’s spouse must not have a majority interest in a principal residence or a benefi cial interest in a land trust on a principal residence within or without the State of Hawaii for a period of three years immediately prior to the date of application for a reserved housing unit;4. If you have dependent children, your dependent child must not have a majority interest in a principal residence or a benefi cial interest in a land trust on a principal residence within or without the State of Hawaii for a period of three years immediately prior to the date of application for a reserved housing unit;5. Must intend to be the owner and occupant of the reserved housing unit; and6. Shall not have record or history of conduct or behavior, including past rent payments, which may prove detrimental to other owners or HCDA. This criterion shall be applied within parameters set by federal laws on discrimination, including the Americans with Disabilities Act.

Income and Asset Restrictions. In addition to the foregoing eligibility requirements, an eligible owner-occupant buyer’s maximum annual adjusted household income must not exceed $108,738 for a family of only one person, or $120,820 for a family of two or more persons. “Adjusted household income” means the total income, before taxes and personal deductions, received by all members of the prospective buyer’s household, including (but not limited to) wages, social security payments, retirement benefi ts, unemployment benefi ts, welfare benefi ts, and interest and dividend payments (but not including business deductions). Also, to be an eligible owner-occupant buyer, the buyer’s assets must not exceed $146,796 for a family of one person, or $163,107 for a family of two or more persons. “Assets” include, but are not limited to, all cash, securities, and real and personal property at current fair market value, less: (i) any outstanding liabilities secured by such assets, and (ii) any retirement accounts, and (iii) gifts to assist in unit down payments.

Transfer and Shared Equity Requirements. If the buyer of a reserved housing unit wishes to transfer title to the unit within a period fi ve years after the buyer acquires the unit, the HCDA will have a fi rst option to purchase the unit under certain conditions and at a sales price based on a formula set forth in Section 15-218-36 of the Kakaako Reserved Housing Rules. If the buyer sells the reserved housing unit after the applicable fi ve year buy-back period, or the HCDA elects not to repurchase the unit within the buy-back period, the HCDA shall be entitled to receive a share of the equity in the unit according to a formula set forth in Section 15-218-41, of the Kakaako Reserved Housing Rules.

The 100 designated owner-occupant reserved housing units (including the current price ranges and applicable shared equity amounts for the units) are more particularly described as follows:

The sale of the 100 reserved housing units in Symphony Honolulu will be offered in a sequential order to qualifi ed prospective buyers as determined by a Lottery drawing to be held on Sunday, September 29, 2013, at 1:00 P.M. To be eligible to be included in the Lottery to determine the unit selection order a prospective buyer must submit a COMPLETED Reserved Housing Application Package no later than 5:30 P.M. on Wednesday, September 25, 2013. The Reserved Housing Application Package will contain: (1) the Symphony Honolulu Reserved Housing Owner-Occupant Registration Agreement, (2) a sample Pre-Qualifi cation Letter from an approved project lender, (3) a Uniform Residential Loan Application Form, (4) the Affi davit of Intent to Purchase and Reside in a Designated Owner-Occupant Reserved Housing Residential Unit, (5) the Affi davit of Eligibility to Purchase a Reserved Housing Unit in the Symphony Honolulu Condominium, and (6) Information from each of the approved project lenders.

Reserved Housing Application Packages may be obtained starting Saturday, August 31, 2013, at 10:00 A.M. at the Symphony Honolulu Sales Center, Honolulu Design Center, 1250 Kapiolani Blvd., Honolulu, Hawaii. Reserved Housing Registration Application Packages will not be available prior to the August 31st date so please do not attempt to obtain packages prior to that date. After you receive your Reserved Housing Application Package, read through the Eligibility Requirements carefully to make sure that you meet all of the requirements before you proceed to the next step. In order to be eligible, prospective buyers must complete all the items in the Reserved Housing Application Package; select a lender from the approved lenders; First Hawaiian Bank, Central Pacifi c Bank, or Honolulu HomeLoans, Inc.; and obtain a pre-qualifi cation letter.

The earliest date that a completed Reserved Housing Application Package can be returned is Friday, September 20, 2013 at 10:00 A.M. at the Symphony Honolulu Sales Center, Honolulu Design Center, 1250 Kapiolani Blvd., Honolulu, Hawaii. YOU MUST HAND DELIVER your completed Reserved Housing Application Package with your required supporting documentation to the Symphony Honolulu Sales Center between the hours of 10:00 A.M. and 5:30 P.M. beginning Friday, September 20, 2013 and ending at 5:30 P.M. on Wednesday, September 25, 2013, if you wish to participate in the Lottery system drawing. The Seller will not and cannot pre-review or pre-approve any Reserved Housing Application Package prior to the initial “turn-in” date and time.

If you have submitted a COMPLETED Reserved Housing Application Package by 5:30 P.M. on September 25, 2013, you will be included in the Lottery, and based on the drawing order established through the Lottery you will be assigned a selection number that establishes your place in order to be offered the opportunity to select a reserved housing unit. The Unit Selection Event will take place on Saturday, October 5, 2013, at the Symphony Honolulu Sales Center, Honolulu Design Center, 1250 Kapiolani Blvd., Honolulu, Hawaii. Starting on Saturday, October 5, 2013 at 10:00 A.M., prospective buyers with selection numbers 1 thru 200 will be given an opportunity to select a designated reserved housing unit and sign a purchase contract.

Should there be any unsold reserved housing units remaining after the unit selection event, then the Symphony Honolulu Sales Center will call prospective buyers assigned selection numbers 201 or higher in order and offer them an opportunity to purchase any of the remaining, unsold reserved housing units. This selection system shall apply until all reserved housing units in the Project are sold.

The prospective buyers must attend the Unit Selection Event in person and also bring to the Unit Selection Event an initial deposit in the amount equal to fi ve (5%) percent of the purchase price of the selected reserved housing unit which will be required to be paid at the time of signing of the purchase contract. Only personal or cashier’s checks made out to Title Guaranty Escrow Services, Inc. are acceptable. Wired funds will not be accepted. If you use a personal check to pay the initial deposit and that personal check is subsequently returned on account of insuffi cient funds, then, and in such event, your purchase contract will be cancelled.

Information about the Project, HCDA eligibility requirements and restrictions, copies of the Reserved Housing Application Package, the Lottery system, and other project documents may be obtained at the Symphony Honolulu Sales Center between the hours of 10:00 A.M. and 5:30 P.M. each day beginning Saturday, August 31, 2013 and ending at 5:30 P.M. on Tuesday, September 24, 2013, for those wishing to participate in the Lottery. For further information, contact the Project Sales Offi ce at (808) 596-8688.

This announcement was prepared in compliance with the terms of the Kakaako Reserved Housing Rules. However, in the event of a confl ict between this announcement and the Kakaako Reserved Housing Rules, the terms of the Kakaako Reserved Housing Rules shall control.

OWNER-OCCUPANT ANNOUNCEMENTRESERVED HOUSING APPLICATIONS AVAILABLE TOMORROW 10:00 AM

SYMPHONY HONOLULU SALES GALLERYHonolulu Design Center 1250 Kapiolani Blvd., 3rd Floor, Honolulu, HI 96814 Phone: 808.596.8688

Exclusive Project Broker: Heyer & Associates LLCCourtesy to qualifying brokers; see project broker for details.

NOTICE: Obtain the Property Report required by Federal law and read it before signing anything. No Federal agency has judged the merits or value, if any, of this property.

8 8 8 K A P I O L A N I B O U L E V A R D

Artist’s Rendering

*(The foregoing areas are in square feet and have been rounded up to the nearest whole square foot and may differ slightly from the areas disclosed in the Public Report for the Project. The Units do not have lanais.)**(These price ranges are subject to change by the Developer prior to entering into binding sales contracts.)***(These amounts were determined based upon the price range estimates shown above and current market prices, and according to the provisions of Section 15-218-41, of the Kakaako Reserved Housing Rules. Actual unit shared equity amounts may be higher, depending upon market prices at the time of actual sale.)

Aloha TowerMarketplace

Ala Moana Blvd.

K a piola ni Blvd.

Neh

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Punahou St.

Waikiki & HawaiiYacht Club

KewaloBasin

MagicIsland

Ward Centers

Neal S.Blaisdell

Center

Ala Moana Beach Park

ToAirport

ToWaikiki

Mccully St.

Date St.

Ala

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Can

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Ala MoanaCenter

H1

H1

92

92

Ala Wai Blvd.

Ward Ave.

Punchbowl St.

Pali Hw

y.

Piikoi St.

S. King St.

Queen St.

Pensacola St.

S. Beretania St.

Kalakaua Ave.

Downtown

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1250 Kapiolani Blvd.

SYMPHONY HONOLULUSALES GALLERY

HONOLULU DESIGN CENTER

888 Kapiolani Blvd.

Unit Shared No. of Approx. Net Living Sales Price Equity Amount *** Reserved Housing Residence Numbers Residence Type Bedrooms & Baths Area Sq. Ft.* Starting From** Range 801, 901, 1001, 1101, 1201, 1501, 1601, 1701 1801, 1901, 2001, 2101, 2201, 2301, 2401, 2501, 2601, 2701, 2801 A1 1/1 672 $390,000 $57,100 - $82,500 812, 912, 1012, 1112, 1212, 1512, 1612, 1712, 1812, 1912, 2012, 2112, 2212, 2312, 2412, 2512, 2612, 2712, 2812 A1R 1/1 672 $390,000 $44,800 - $70,200 802, 902, 1002, 1102, 1202, 1502, 1602, 1702, 1802, 1902, 2002, 2102, 2202, 2302, 2402, 2502, 2602, 2702, 2802 B1 2/2 922 $499,000 $78,500 - $87,300 811, 911, 1011, 1111, 1211, 1511, 1611, 1711, 1811, 1911, 2011, 2111, 2211, 2311, 2411, 2511, 2611, 2711, 2811 B1R 2/2 922 $499,000 $62,800 - $71,600

810, 910, 1010, 1110, 1210, 1510, 1610, 1710 C1R 2/2 1,142 $542,000 $187,000 - $218,500 806, 906, 1006, 1106, 1206, 1506, 1606, 1706 E1 2/2 1,052 $555,000 $143,000 - $174,500 808, 908, 1008, 1108, 1208, 1508, 1608, 1708 E1R 2/2 1,052 $555,000 $143,000 - $174,500