I had to comment out the follow to make this work:

  32  chmod 700 /usr/local/etc/monitrc
  33  vi /etc/inittab
  34
  35  # Run monit in standard run-levels
  36  mo:2345:respawn:/usr/local/bin/monit -Ic /usr/local/etc/monitrc
  37
  38  restart inittab
  39    telinit q