20090565 Ver 1_Final MBI_20110218

(Version June 2009)
AGREEMENT TO ESTABLISH THE BACHELORS DELIGHT MITIGATION BANK
IN ONSLOW COUNTY, NORTH CAROLINA
(USACE Action ID No. 2009-00832)
This Mitigation Banking Instrument (MBI) is made and entered into on the day of
, 2010, by the Weyerhaeuser Real Estate Development Co. (WREDCO),
hereinafter Sponsor, and the U. S. Army Corps of Engineers (Corps), and each of the following
agencies, upon its execution of this NMI, the Environmental Protection Agency (EPA), the U. S.
Fish and Wildlife Service (FWS), the National Marine Fisheries Service (NMFS), the North
Carolina Wildlife Resources Commission (NCWRC), the North Carolina Division of Coastal
Management (NCDCM), and the North Carolina Division of Water Quality (NCDWQ). The
Corps, together with the State and Federal agencies that execute this NMI, are hereinafter
collectively referred to as the Interagency Review Team (IRT).
WHEREAS the purpose of this agreement is to establish a mitigation bank (Bank) providing
compensatory mitigation for unavoidable wetland impacts separately authorized by Section 404
Clean Water Act permits and /or Section 10 of the Rivers and Harbors Act permits in appropriate
circumstances;
WHEREAS the Sponsor has entered into a Memorandum of Agreement (MOA) (dated
October 2010) with the Board of Trustees of the Endowment Fund of North Carolina State
University (ENDOWMENT FUND) and NC State Natural Resources Foundation, Inc.
(FOUNDATION) to implement and operate a wetland and stream mitigation bank, a subset of
which is located on property owned by the ENDOWMENT FUND (see attached survey);
WHEREAS the Sponsor is the record owner of that certain parcel of land containing
approximately 252 acres located in Onslow County, North Carolina, described in the Bachelors
Delight Mitigation Bank Restoration Plan (October 2010 Mitigation Plan), and as shown on the
attached survey (Property A);
WHEREAS Endowment Fund is the record owner of that certain parcel of land containing
approximately 111 acres, located in Onslow County, North Carolina, described in the Bachelors
Delight Mitigation Bank Restoration Plan (Mitigation Plan), and as shown on the attached survey
(Property B);
WHEREAS the agencies comprising the IRT agree that the combined sites totaling 363 acres
(Property A and Property B as identified above) are a suitable mitigation bank site, and that
implementation of the Mitigation Plan is likely to result in net gains in wetland and/or stream
functions at the Bank site, and have therefore approved the Mitigation Plan;
WHEREAS the Foundation has certain rights regarding the use and management of the Bank
site under the MOA referenced above with the Endowment Fund and WREDCO;
(Version June 2009)
THEREFORE, it is mutually agreed among the parties to this agreement that the following
provisions are adopted and will be implemented upon signature of this MBI.
Section L• General Provisions
A. The Sponsor is responsible for assuring the success of the restoration, enhancement, and
preservation activities at the Bank site, and for the overall operation and management of the
Bank. The Sponsor assumes the legal responsibility for providing the compensatory mitigation
once a permittee secures credits from the Sponsor and the DE receives documentation that
confirms the Sponsor has accepted responsibility for providing the required compensatory
mitigation.
B. The goal of the Bank is to restore, enhance, and preserve first order streams, zero order
streams, riparian (non-riverine) wetlands, and non-riparian wetlands and their functions to
compensate in appropriate circumstances for unavoidable wetland and stream impacts authorized
by Section 404 of the Clean Water Act permits and or Section 10 of the Rivers and Harbors Act
permits in circumstances deemed appropriate by the Corps after consultation, through the permit
review process, with members of the IRT.
C. Use of credits from the Bank to offset wetland impacts authorized by Clean Water Act
permits must be in compliance with the Clean Water Act and implementing regulations,
including but not limited to the 404(b)(1) Guidelines, the National Environmental Policy Act,
and all other applicable Federal and State legislation, rules and regulations. This agreement has
been drafted in accordance with the regulations for Compensatory Mitigation for Losses of
Aquatic Resources effective June 9, 2008 (33 CFR Parts 325 and 332) (Mitigation Rule").
D. The IRT shall be chaired by the District Engineer (DE) of the U. S. Army Corps of Engineers,
Wilmington District. The IRT shall review documentation for the establishment of mitigation
banks. The IRT will also advise the DE in assessing monitoring reports, recommending remedial
measures, approving credit releases, and approving modifications to this instrument. The IRT's
role and responsibilities are more fully set forth in Sections 332.8 of the Mitigation Rule. The
IRT will work to reach consensus on its actions.
E. The DE, after consultation with the appropriate Federal and State review agencies through the
permit review process, shall make final decisions concerning the amount and type of
compensatory mitigation to be required for unavoidable, permitted wetland impacts, and whether
or not the use of credits from the Bank is appropriate to offset those impacts. In the case of
permit applications and compensatory mitigation required solely under the Section 401 Water
Quality Certification rules of North Carolina, the N.C. Division of Water Quality (NCDWQ) will
determine the amount of credits that can be withdrawn from the Bank.
F. The parties to this agreement understand that a watershed approach to establish compensatory
mitigation must be used to the extent appropriate and practicable. Where practicable, in-kind
compensatory mitigation is preferred.
(Version June 2009)
Section II: Geographic Service Area
The Geographic Service Area (GSA) is the designated area within which the bank is authorized
to provide compensatory mitigation required by DA permits. The GSA for this Bank shall
include the White Oak River Basin, Hydrologic Unit 03030001 in North Carolina (refer to
Figure 4 of the Mitigation Plan). Note that following 14-digit Hydrologic Unit Codes (HUCs) of
the White Oak River Basin are excluded from the identified GSA: (1) 03030001040005; (2)
03030001040010; and (3) 03030001040020.
The service area is based on the location and scope of the project which will generate tangible
water quality benefits in one of the main tributaries of the White Oak River through the cessation
of agri cultural/silvi cultural land use activities and the restoration of headwater stream and
wetland ecosystems. Use of a Bank site to compensate for impacts beyond the GSA (including
areas within the excluded 14-digit HUCs identified above) may be considered by the Corps or
the permitting agency on a case-by-case basis.
Section III: Mitigation Plan
Any Mitigation Plan submitted pursuant to this agreement must contain the information
listed in 332.4(c)(2) through (14) of the Compensatory Mitigation Rule.
A. The Bank site is a currently managed for silvicultural and agricultural production. A more
detailed description of the baseline conditions on the site is contained in the Mitigation Plan.
B. The Sponsor will perform work described on Section 4 and Section 5 of the Mitigation Plan,
including 9,679 linear feet (If) of Priority I stream restoration, 7,0821f of zero-order stream
restoration, 5,928 if of Level II stream enhancement, and 11,4001f of stream preservation.
Additional work within the Bank will restore 60 acres (ac.) of riparian (non-riverine) wetlands
and 85 ac. of non-riparian wetlands. A total of 28 ac. of riparian (non-riverine) wetland
enhancement; 48 ac. of riparian (non-riverine) wetland preservation; 13 ac. of non-riparian
wetland preservation; and 129 acres of stream buffer/upland buffer will also be included within
the Bank. The work associated with the Bank will include backfilling of existing ditches,
construction of new stream channels, and planting of native hardwood seedlings.
The purpose of this work, and the objective of the Bank, is to restore, enhance, and preserve the
wetlands and stream systems associated with headwaters of Bachelors Delight Swamp.
Development of the Bank will reduce nutrient inputs, stormwater discharge, and flow velocities
in a watershed that is experiencing rapid development.
C. The Sponsors shall monitor the Bank Site as described in Section 7 of the Mitigation Plan,
until such time as the IRT determines that the success criteria described in Section 7 of the
Mitigation Plan have been met.
(Version June 2009)
D. The members of the IRT will be allowed reasonable access to the Property for the purposes
of inspection of the Property and compliance monitoring of the Mitigation Plan.
Section IV: Reporting
A. The Sponsor shall submit to the DE, for distribution to each member of the IRT, an annual
report describing the current condition of the Bank and the condition of the Bank in relation to
the success criteria in the Mitigation Plan. The Sponsor shall provide to the DE any monitoring
reports described in Section 7 of the Mitigation Plan.
B. The Sponsor shall provide ledger reports documenting credit transactions as described in
Section VIII of this NMI.
C. Each time an approved credit transaction occurs, the Sponsor must notify the DE within 30
days of the transaction.
Section V: Remedial Action
A. The DE shall review the monitoring reports, and may, at any time, after consultation with the
Sponsor and the IRT, direct the Sponsor to take remedial action at the Bank site. Remedial
action required by the DE shall be designed to achieve the success criteria specified in the
Mitigation Plan. All remedial actions required under this section shall include a work schedule
and monitoring criteria that will take into account physical and climactic conditions.
B. The Sponsor shall implement any remedial measures required pursuant to the above.
C. In the event the Sponsor determines that remedial action may be necessary to achieve the
required success criteria, it shall provide notice of such proposed remedial action to all members
of the IRT. No remedial actions shall be taken without the concurrence of the DE, in
consultation with the IRT.
Section VI: Use of Mitigation Credits
Description of Wetland Community Types:
A. Wetland community types found in a mitigation bank will be described in accordance with the
procedures found in the NC Wetland Assessment Method (NC WAM, USACE, 2007). It is
expected that impacts to the NC WAM types listed below will be compensated by the Mitigation
Types as listed in order to qualify as "In-Kind" mitigation. Exceptions to the use of "In-Kind"
mitigation may be allowed at the discretion of the permitting agencies on a case-by-case basis.
(Version June 2009)
Table 1. Wetland Community Types
Mitigation Type NCWAM Type

CAMA Coastal Wetland Salt/Brackish Marsh*
Riparian (Riverine) Riverine Swamp Forest/Non-Tidal Freshwater Marsh, Tidal
Freshwater Marsh
Riparian (Non-Riverine) Bottomland Hardwood Forest, Headwater Wetland, Flood-
Plain Pool, Mountain Bog*
Non-Riparian Non-Riverine Swamp Forest, Seep, Small Basin Wetland,
Pocosins, Estuarine Woody, Pine Flat, Pine Savannah,
Hardwood Flat
Table 2. Mitigation Types and Quantities (acres/If)
Streams (linear feet)
Priority 1 Zero Order Enhancement
Type Restoration Restoration (Level 11) Preservation SBCF
Hewitts Branch 5,103 500 4,900 656
Huffmans Branch 3,445 1,404 2,000 1,200 431
Bachelors Delight Swamp 4,777 3,428 5,300
Half Moon Creek 1,131 901 147
TOTAL 9,679 7,082 5,928 11,400 1,234
RATIO 1:1 1:1 1.5:1 2.5:1 NA
CREDITS 9,679 7,082 3,952 4,560 1,234
GRAND TOTAL 26,507
Wetlands (acres)
Proposed
Type Acreage Ratio Credits"
Riparian Restoration 60 1:1 60r
Riparian Enhancement 28 2:1 14re
Riparian Wetland Preservation 48 5:1 10re
Non-Riparian Restoration 85 1:1 85r
Non-Riparian Preservation 13 7:1 2re
SBCF/Upland Buffer 129 NA 0
TOTAL 363 171
*r=restoration credit; re= restoration-equivalent credit
(Version June 2009)
Table 3. Mitigation Credits by Stream and Wetland Type
Mitigation Type Quantity (If/ac) Credits
Stream 34,089 26,507*
Riparian (Non-Riverine) Wetland 136 84
Non-Riparian Wetland 98 87
*Includes credits derived from Stream Buffer Correction Factor (SBCF)
B. It is anticipated by the parties that in most cases in which the DE, after consultation with the
IRT, has determined that mitigation credits from the Bank may be used to offset wetland impacts
authorized by Section 404 permits and/or Section 10 permits, that the Restoration Equivalents, as
enumerated above, constitute credits that are considered to be equal to restoration credits for the
purposes of compensatory mitigation. Therefore, the use of Restoration credits or Restoration
Equivalents credits, or any combination thereof, is acceptable to the DE for any permit
requirement so long as the required amount of credits are debited for a given mitigation
requirements. It is also understood that in order to satisfy mitigation requirements imposed by
the NC Division of Water Quality, restoration impact amounts must be at a minimum of 1:1 such
that for every one acre of impact, at least one acre of mitigation must be in the form of
restoration. Additionally, decisions regarding stream mitigation will be made consistent with
current policy and guidance and will be made on a case by case basis. Wetland and stream
compensation ratios are determined by the DE on a case-by-case basis based on considerations of
functions of the wetlands and/or streams impacted, the severity of the wetland and/or stream
impacts, the relative age of the mitigation site, whether the compensatory mitigation is in-kind,
and the physical proximity of the wetland and/or stream impacts to the Bank site.
C. Notwithstanding the above, all decisions concerning the appropriateness of using credits from
the Bank to offset impacts to waters and wetlands, as well as all decisions concerning the amount
and type of such credits to be used to offset wetland and water impacts authorized by Department
of the Army permits, shall be made by the DE, pursuant to Section 404 of the Clean Water Act
and implementing regulations and guidance, after notice of any proposed use of the Bank to the
members of the IRT, and consultation with the members of the IRT concerning such use. Notice
to and consultation with the members of the IRT shall be through the permit review process.
Section VII: Credit Release Schedule
All credit releases must be approved by the DE, in consultation with the IRT, based on a
determination that required success criteria have been achieved.
A. Credit Release Schedule for Forested Wetlands: If deemed appropriate by the IRT, fifteen
percent (15%) of the Bank's total restoration credits shall be available for sale immediately upon
completion of all of the following:
(Version June 2009)
1. Execution of this MBI by the Sponsor, the DE, and other agencies eligible for membership
in the IRT who choose to execute this agreement;
2. Approval of the final Mitigation Plan;
3. Mitigation bank site has been secured;
4. Delivery of the financial assurance described in Section IX of this MBI; and
5. Recordation of the long-term protection mechanism described in Section X of this MBI, as
well as a title opinion covering the property acceptable to the DE.
The Sponsor must complete the initial physical and biological improvements to the Bank site
pursuant to the Mitigation Plan no later than the first full growing season following initial
debiting of the Bank. Subject to the Sponsor's continued satisfactory completion of all required
success criteria and monitoring, additional restoration mitigation credits will be available for sale
by the Sponsor on the following schedule:
1. 15 % upon completion of all initial physical and biological improvements made pursuant
to the Mitigation Plan (total 30%);
2. 10% after first year, if interim success measures are met (total 40%);
3. 10% after second year, if interim success measures are met (total 50%);
4. 10% after third year, if interim success measures are met (total 60%);
5. 10% after fourth year, if interim success measures are met (total 70%);
6. 10% after fifth year, if Success Criteria are met (total 80%);
7. 10% after sixth year, if vegetative Success Criteria are met (90%); and
8. 10% after seventh year, if vegetative Success Criteria are met (100%).
Provided that all Success Criteria are met, the IRT may allow the Sponsor to discontinue
hydrologic monitoring after the fifth year. The Sponsor will be required to monitor vegetation
for an additional two years after the fifth year for a total of seven years.
B. Credit Release Schedule for Streams: The following credit release schedule applies only to
those stream projects where Restoration or Enhancement I has been performed where pattern,
dimension, and profile, or dimension and profile (respectively) have been improved. Projects
constructed on the outer coastal plain that are subject to the Coastal Plain Information Paper
(USACE/DWQ 2007) where an engineered stream channel was not constructed, will be subject
to the criteria enumerated for wetlands above.
If deemed appropriate by the IRT, fifteen percent (15%) of the Bank's total stream credits shall
be available for sale immediately upon completion of all of the following:
1. Execution of this MBI by the Sponsor, the DE, and other agencies eligible for membership
in the IRT who choose to execute this agreement;
2. Approval of the final Mitigation Plan;
3. Mitigation bank site has been secured;
4. Delivery of the financial assurance described in Section IX of this MBI; and
(Version June 2009)
5. Recordation of the long-term protection mechanism described in Section X of this NMI, as
well as a title opinion covering the property acceptable to the DE.
Table 4A. Credit Release Schedule for Wetlands
Percentage of Wetland Cumulative
Projected Credits
Task Credits Released (% Credits
Completion Date Released
cumulative) Released
1.0 Signing of the NMI; 1/15/11 15(15) 25.6 25.6
Recordation of Conservation
Easement Deed; Delivery of
Financial Assurances
2.0 Completion of Physical and 2/2012 15(30) 25.6 51.2
Biological Improvements
3.0 Year 1: Fulfill Success 1/2013 10(40) 17.1 68.3
Criteria
4.0 Year 2: Fulfill Success 1/2014 10(50) 17.1 85.4
Criteria
5.0 Year 3: Fulfill Success 1/2015 10(60) 17.1 102.5
Criteria
6.0 Year 4: Fulfill Success 1/2016 10(70) 17.1 119.6
Criteria
7.0 Year 5: Fulfill Success 1/2017 10(80) 17.1 136.7
Criteria
8.0 Year 6: Fulfill Success 1/2018 10(90) 17.1 153.8
Criteria
9.0 Year 7: Fulfill Success 1/2019 10(100) 17.2 171
Criteria
TOTAL 100% 171
Subject to the Sponsor's continued satisfactory completion of all required success criteria and
monitoring, additional stream credits will be available for sale by the Sponsor on the following
schedule:
1. 15 % upon completion of all initial physical and biological improvements made pursuant
to the Mitigation Plan (total 30%);
2. 10% after first year, provided channel is stable and all other success measures are met
(total 40%);
3. 10% after second year, provided channel is stable and all other success measures are met
(total 50%);
4. 10% after third year, provided channel is stable and all other success measures are met
(total 60%);
5. 10% after fourth year, provided channel is stable and all other success measures are met
(total 70%);
6. 15% after fifth year, provided channel is stable and all other success measures are met
(total 85%).
(Version June 2009)
A reserve of 15% of the Bank's total stream credits shall be released any time after two bank-full
events have occurred, in separate years, provided the channel is stable and all other Success
Criteria are met. In the event that less than two bank-full events occur during the monitoring
period, remaining credit release shall be at the discretion of the IRT.
Table 4B. Credit Release Schedule for Streams

Projected Percentage of Wetland Credits Cumulative
Task
Completion Date Credits Released (%
Released Credits
cumulative) Released
1.0 Signing of the NMI; 1/15/11 15 (15) 3,976 3,976
Recordation of Conservation
Easement Deed; Delivery of
Financial Assurances
2.0 Completion of Physical and 2/2012 15 (30) 3,976 7,952
Biological Improvements
3.0 Year 1: Fulfill Success 1/2013 10(40) 2,651 10,603
Criteria
4.0 Year 2: Fulfill Success 1/2014 10(50) 2,650 13,253
Criteria
5.0 Year 3: Fulfill Success 1/2015 10(60) 2,651 15,904
Criteria
6.0 Year 4: Fulfill Success 1/2016 10(70) 2,650 18,555
Criteria
7.0 Year 5: Fulfill Success 1/2017 15(85) 3,976 22,531
Criteria
8.0 Documentation of Two TBD 15(100) 3,976 26,507
Bank-full Events in Separate
Years
TOTAL 100% 26,507
Section VIII: Accounting Procedures
A. The Sponsor shall develop accounting procedures acceptable to the IRT for maintaining
accurate records of debits made from the Bank. Such procedures shall include the generation of
a ledger by the Sponsor showing credits used at the time they are debited from the Bank. All
ledger reports shall identify credits debited and remaining by type of credit and shall include for
each reported debit the Corps ORM ID number for the permit for which the credits were utilized
and the permitted impacts for each resource type. Each time an approved credit transaction
occurs, the Sponsor must notify the DE within 30 days of the transaction.
B. The Sponsor shall prepare an annual ledger report, on each anniversary of the date of
execution of this agreement, showing all credits used, any changes in credit availability (e.g.,
(Version June 2009)
additional credits released, credit sales suspended), and the beginning and ending balance of
credits remaining. The Sponsor shall submit the annual report to the DE, for distribution to each
member of the IRT, until such time as all of the credits have been utilized, or this agreement is
otherwise terminated.
Section IX: Financial Assurances
A. The Sponsor shall provide financial assurances in a form acceptable to the IRT sufficient to
assure completion of all mitigation work, required reporting and monitoring, and any remedial
work required pursuant to this NMI. These financial assurances are provided in the form of two
performance bonds. A construction bond, in the sum of $500,000, represents 30% of the
projected construction, planting, and contingency costs associated with the activities described in
the Mitigation Plan. The monitoring bond, in the sum of $70,000, represents 10% of the
projected monitoring costs for the seven (7) year schedule described in the Mitigation Plan.
B. Financial assurances shall be payable at the direction of the DE to his designee or to a
standby trust. Financial assurances structured to provide funds to the Corps of Engineers in the
event of default by the Bank Sponsor are not acceptable.
C. A financial assurance must be in the form that ensures that the DE receives notification at
least 120 days in advance of any termination or revocation.
Section X: Long-Term Protection
A. The North Carolina State Natural Resources Foundation (Foundation), a registered 501(c)3
entity, will serve as the holder of the conservation easement (CE) for the Bank. The Foundation
will maintain the CE in perpetuity and provide for the long-term protection of the land through
annual monitoring activities. Title to the land will reside with the current owners, WREDCO
(Tract A) and The Endowment Fund of North Carolina State University (Tract B). Refer to the
attached conservation easement plats for both tracts (Appendix B). The CE shall be perpetual,
preserve all natural areas, and prohibit all use of the property inconsistent with its use as
mitigation property, including any activity that would materially alter the biological integrity or
functional and educational value of wetlands or streams within the Bank site, consistent with the
Mitigation Plan. The purpose of the CE will be to assure that future use of the Bank site will
result in the restoration, protection, maintenance and enhancement of wetland functions
described in the Mitigation Plan.
B. The Sponsor shall deliver a title opinion acceptable to the DE covering the mitigation
property. The property shall be free and clear of any encumbrances that would conflict with its
use as mitigation, including, but not limited to, any liens that have priority over the recorded
preservation mechanism.
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(Version June 2009)
C. Subsequent to the recording of the CE, the Sponsor may convey the Bank Site property either
in fee or by granting an easement to a qualified land trust, state agency, or other appropriate
nonprofit organization. The Sponsor is responsible for ensuring that that the CE is re-recorded to
ensure that it remains within the chain of title. The terms and conditions of this conveyance shall
not conflict with the intent and provisions of the CE nor shall such conveyance enlarge or modify
the uses specified in the CE.
The CE must contain a provision requiring 60 day advance notification to the DE before any
action is taken to void or modify the CE, including transfer of title to, or establishment of any
other legal claims over, the project site.
Section XI: Long-term Management
A. The Foundation (as identified above) will be responsible for the long-term management of
the site. The primary objective of the long-term management is to ensure the protection of the
site in its natural state.
B. An endowment will be provided to the Foundation by the Sponsor to assist with the long-
term management expenses of the Bank site.
Section XIL• Default and Closure
A. It is agreed to establish and/or maintain the Bank site until (i) credits have been exhausted or
banking activity is voluntarily terminated with written notice by the Sponsor provided to the DE
and other members of the IRT; and (ii) it has been determined and agreed upon by the DE and
IRT that the debited Bank site has satisfied all the conditions herein and in the Mitigation Plan.
If the DE determines that the Bank site is not meeting performance standards or complying with
the terms of the instrument, appropriate action will be taken. Such actions may include, but are
not limited to, suspending credit sales, adaptive management, decreasing available credits,
utilizing financial assurances, and terminating the instrument.
B. Any delay or failure of Bank Sponsor shall not constitute a default hereunder if and to the
extent that such delay or failure is primarily caused by any act, event or conditions beyond the
Sponsor's reasonable control and significantly adversely affects its ability to perform its
obligations hereunder including: (i) acts of God, lightning, earthquake, fire, landslide, or
interference by third parties; (ii) condemnation or other taking by any governmental body; (iii)
change in applicable law, regulation, rule, ordinance or permit condition, or the interpretation or
enforcement thereof, (iv) any order, judgment, action or determination of any federal, state or
local court, administrative agency or government body; or (v) the suspension or interruption of
any permit, license, consent, authorization or approval. If the performance of the Bank Sponsor
is affected by any such event, Bank Sponsor shall give written notice thereof to the IRT as soon
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(Version June 2009)
as is reasonably practicable. If such event occurs before the final availability of all credits for
sale, the Sponsor shall take remedial action to restore the property to its condition prior to such
event, in a manner sufficient to provide adequate mitigation to cover credits that were sold prior
to such delay or failure to compensate for impacts to waters, including wetlands, authorized by
Department of the Army permits. Such remedial action shall be taken by the Sponsor only to the
extent necessary and appropriate, as determined by the IRT.
C. At the end of the monitoring period, upon satisfaction of the performance standards, the
Sponsor may submit a request to close out the bank site to the DE. The DE, in consultation with
the IRT, shall use best efforts to review and comment on the request within 60 days of such
submittal. If the DE determines the Sponsor has achieved the performance standards in
accordance with the mitigation plan and all obligations under this NMI, the DE shall issue a
close out letter to the Sponsor.
Section XIII: Miscellaneous
A. Any agency participant may terminate its participation in the IRT with notice in writing to all
other parties to this agreement. Termination shall be effective seven (7) days from placing
written notices in the United States mail. Member withdrawal shall not affect any prior sale of
credits and all remaining parties shall continue to implement and enforce the terms of this NMI.
B. Modification of this MBI shall be in accordance with the procedures set forth in 332.8 of the
mitigation rule.
C. No third party shall be deemed a beneficiary hereof and no one except the signatories hereof,
their successors and assigns, shall be entitled to seek enforcement hereof.
D. This MBI constitutes the entire agreement between the parties concerning the subject matter
hereof and supersedes all prior agreements or undertakings.
E. In the event any one or more of the provisions contained in this MBI are held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceablility will not
affect any other provisions hereof, and this MBI shall be construed as if such invalid, illegal or
unenforceable provision had not been contained herein.
F. This NMI shall be governed by and construed in accordance with the laws of North Carolina
and the United States as appropriate.
G. This MBI may be executed by the parties in any combination, in one or more counterparts,
all of which together shall constitute but one and the same instrument.
H. The terms and conditions of this MBI shall be binding upon, and inure to the benefit of the
parties hereto and their respective successors.
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(Version June 2009)
1. All notices and required reports shall be sent by regular mail to each of the parties at their
respective addresses, provided below.
Sponsor:
Mr. Taylor Downey
Weyerhaeuser Real Estate Development Company
1412 Eatonton Hwy Suite 700
Madison, GA 30850
Corps:
Mr. Mickey Sugg
U. S. Army Corps of Engineers
Regulatory Division
69 Darlington Avenue
Wilmington, NC 28403
EPA:
Ms. Jennifer Derby
Wetlands Section - Region IV
Water Management Division
U. S. Environmental Protection Agency
61 Forsyth Street, SW
Atlanta, Georgia 30303
FWS:
Mr. Pete Benjamin
U.S. Fish and Wildlife Service
Fish and Wildlife Enhancement
Post Office Box 33726
Raleigh, North Carolina 27636-3726
NMFS:
Mr. Ron Sechler
National Marine Fisheries, NOAA
Habitat Conservation Division
Pivers Island
Beaufort, North Carolina 28516
NCWRC:
Ms. Molly Ellwood
North Carolina Wildlife Resources Commission
127 Cardinal Drive Extension
Wilmington, NC 28405
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(Version June 2009)
NCDCM:
Mr. Steve Sollod
North Carolina Division of Coastal Management
127 Cardinal Drive Extension
Wilmington, NC 28405
NCDWQ:
Ms. Cyndi Karoly
NC Division of Water Quality
North Carolina Department of Environment and Natural Resources
Post Office Box 29535
Raleigh, NC 27626-0535
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(Version June 2009)
IN WITNESS WHEREOF, the parties hereto have executed this Agreement entitled
"Agreement To Establish The Bachelors Delight Mitigation Bank in Onslow County, North
Carolina":
Sponsor:
By:
U.S. Army Corps of Engineers:
Date:
By: Date:
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(Version June 2009)
IN WITNESS WHEREOF, the parties hereto have executed this Agreement entitled
"Agreement To Establish The Bachelors Delight Mitigation Bank In Onslow County,
North Carolina":
U.S. Environmental Protection Agency:
By: Date:
U.S. Fish and Wildlife Service:
By: Date:
National Marine Fisheries Service:
By: Date:
N.C. Division of Water Quality:
By: Date:
N.C. Wildlife Resources Commission:
By: Date:
N.C. Division of Coastal Management:
By: Date:
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(Version June 2009)
List of Appendices
Appendix A: Bachelors Delight Stream and Wetland Mitigation Bank - Final Mitigation
Plan (October 2010)
Appendix B: Conservation Easement Plats (Tract A and Tract B)
Appendix C: Map - Geographic Service Area
Appendix D: Construction Costs
Appendix E: Maintenance and Monitoring Costs
Appendix F: Performance Bonds
Appendix G: Conservation Easement Deed
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(Version June 2009)
IN WITNESS WHEREOF, the parties hereto have executed this Agreement entitled
"Agreement To Establish Bachelors Delight Stream and Wetland Mitigation Bank in
Onslow County, North Carolina":
N.C. Division of Water Quality:
By: / l Date: /a / ZP ,'
yndi Karoly, Branch C f
Wetland and Stormwater Branch
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