Upon classification, the board shall be responsible for preparing, executing, and administering an agreement with the applicant and others having an interest in or encumbrance upon the tree farm property. The agreement shall be for a period of not less than twenty years but shall contain, inter alia, the following conditions:

1. (1) The agreement shall be canceled and terminated and the tree farm property shall thereby be declassified if, upon investigation, the board determines that the owner of the property is not complying with this chapter or the management plan;
2. (2) Any owner of tree farm property desiring to withdraw all or part of the property from the operations of this chapter may at any time make written application to the board;

3. (3) The owner shall develop and maintain trees of commercial species and other forest products as specified in the management plan.

   The agreement shall also contain other terms and conditions deemed advisable by the board.

[L 1963, c 141, §6; Supp, §87D-6; HRS §186-5; am L 1989, c 50, §4]