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TARGET SHOPS – HONOLULU WEST Month Day, 2008 Roger Lyons First Vice President CB Richard Ellis, Inc. 1003 Bishop Street, 18th Floor Honolulu, HI 96813 Re: Letter of Intent to Lease Space No. *** , Target Shops – Honolulu West Dear Roger: This Letter of Intent shall serve to outline a proposal for the lease of space at the Target Shops – Honolulu West, at Honolulu, Hawaii. As more fully explained below, this proposal does not constitute a binding agreement between the parties. It only evidences Tenant’s offer to negotiate in good faith with Landlord for a lease of space in the Center. The basic terms of the proposal are as follows: Landlord: Target Corporation, a Minnesota corporation, 1000 Nicollet Mall Minneapolis, Minnesota 55403 Tenant: *** Tenants Trade Name: *** Effective Date: December 5, 2008 (intended date for fully executed lease). Premises: Space No.*** having approximately *** sq. ft. of Floor Area, shown in the approximate location identified on the Building Plan attached hereto as Exhibit A. Permitted Use of Premises: Tenant shall use the Premises only for the following purpose: *** Any changes to said use or the format of Tenant’s business shall require the prior written consent of Landlord. Lease Term: ***Years Option: Tenant shall have one (1) successive option to extend the Lease Term for a period of sixty (60) months (“Option Term”) at the then fair market rent exercisable in writing no less than 180 calendar days prior to the expiration of the original lease term. Option rent shall not be less than the rent paid in the preceding period; Rent Commencement Date: Rent and all other charges shall commence upon sixty (60) days after Delivery. Tenant agrees upon execution of this Letter of Intent to commence design drawings and submit plans to Landlord for approval within 45 days. Tenant agrees to apply for building permit within 5 days after approval of Tenant’s plans by Landlord. Delivery Date: Landlord shal