(a) A land exchange proposal should include the following documentation:
| The proposal should include . . . | that should contain . . . |
|---|---|
| (1) Identifying information | (i) The identity of the parties involved in the proposed exchange; and |
| (ii) The status of their ownership of the properties in the exchange, or their ability to provide title to the properties. | |
| (2) Descriptive information | A legal description of: |
| (i) The land considered for the exchange; and | |
| (ii) The appurtenant rights proposed to be exchanged or reserved. | |
| (3) Authorized use information | (i) Any authorized uses including grants, permits, easements, or leases; and |
| (ii) Any known unauthorized uses, outstanding interests, exceptions, adverse claims, covenants, restrictions, title defects or encumbrances. | |
| (4) A time schedule for completing the exchange | Expected dates of significant transactions or milestones. |
| (5) Assignment of responsibilities | Responsibilities for: |
| (i) Performance of required actions; and | |
| (ii) Costs associated with the proposed exchange. | |
| (6) Hazardous substance information | Notice of: (i) Any known release, storage, or disposal of hazardous substances on non-Hawaiian Home Land Trust properties in the exchange; |
| (ii) Any commitments regarding responsibility for removal or remedial actions concerning hazardous substances on non-Hawaiian Home Land Trust properties; and | |
| (iii) All terms and conditions regarding hazardous substances on non-Hawaiian Home Land Trust properties. | |
| (7) Grants of permission by each party to the other | Permission to enter the properties for the purpose of conducting physical examination and studies in preparation for the exchange. Written permission to appraise the properties should also be included. |
| (8) Three statements | Details of: |
| (i) Arrangements for relocating tenants, if there are tenants, occupying the Hawaiian Home Land Trust and non-Hawaiian Home Land Trust properties involved in the exchange; | |
| (ii) How the land exchange proposal complies with the HHCA and HHLRA; and | |
| (iii) How the documents of conveyance will be exchanged once the Secretary has approved the exchange. |
(b) When the parties to the exchange agree to proceed with the land exchange proposal, they may sign an agreement that the Chairman will initiate the exchange.