§171-81  Surrender of lease.  If at anytime the lessee desires to surrender the lessee's lease and improvements, theboard of land and natural resources may accept the surrender and purchase theimprovements for their fair market value, as determined by appraisers, withfunds from the special land and development fund, provided the board has a firmoffer from a person, who is qualified to take the residential lease under thispart, to take the lease and purchase the improvements for not less than the amountto be paid therefor by the board and who has a commitment from a recognizedlending institution to finance the purchase.  Upon acceptance of the surrenderand purchase of the improvements, the board shall sell the improvements to thatperson and make a new lease to the person. [L 1962, c 32, pt of §2; Supp,§103A-77; HRS 171-81; gen ch 1985]