20080229 Ver 1_Mitigation Info_20090921

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FORREST CREEK REPARIAN BUFFER MITIGATION BANK
TRANSFER OF CREDIT CERTIFICATE
Falls of Neuse Road Realignment and Widening ? .D w a at` p 90 v31
This agreement and acknowledgment of Transfer of Mitigation and Implementation Plan
obligations to Forrest Creek Riparian Buffer Mitigation Bank executed by and between W. CITY
OF RALEIGH ("Purchaser") and EarthMark Mid-Atlantic Mitigation, LLC (DBA Forest
Creek Mitigation Bank) a Florida limited liability company ("Banker") for (Name of Project)
Falls of Neuse Road Realignment and Widening shall read as follows:
WITNESSETH
In consideration of the covenants and considerations recited herein, the parties agree as follows:
1. By execution of this Agreement, Parties agrees to the assumption of Required Riparian Buffer
Restoration Credits in Neuse River Basin, Cataloging Unit 03020201. As a Permit Condition,
The project will impact protected riparian buffers indentified in 15A, NCAC 213 .0233 (Neuse),
15A NCAC 213 .0259 (Tar-Pamlico, 15A NCAC 02B .0243 (Catawba) 15A NCAC 213 .0250
Neuse Buffer Rules. Banker acknowledges and agrees that upon the execution of the Certificate
by Banker, and delivery to DWQ of a copy of this executed Certificate, that all obligations with
respect to this Riparian Buffer Mitigation obligation, shall be the sole obligation of Banker as
authorized Pursuant to the "Forrest Creek Riparian Buffer Mitigation Bank", "Mitigation Banking
Agreement", dated April 2008. Banker shall assume a total 62,481 Buffer Credits for this
transferred obligation and be deducted from Bank Credit Ledger.
2. Banker acknowledges that purchaser has made full payment to the Forrest Creek Riparian
Buffer Mitigation Bank, and the mitigation obligations so transferred and agrees to perform the
mitigation as described below.
3. The mitigation transferred is described in Forrest Creek Riparian Buffer Mitigation Bank
Agreement, DWQ #08-0229, identified under USE OF MITIGATION CREDITS and the
subsequent permit issued April, 2008 and consists of the requirement to provide mitigation for
impacts to jurisdictional waters. This mitigation transfer comprises the purchase of a total 62,481
credits of buffer mitigation from Banker. As condition of DWQ Permit Action (NCDOT TIP NO
U-4901), Banker agrees to assume all liability and responsibility concerning the above
mitigation.
4. Pursuant of Mitigation Banking Agreement, Forrest Creek Riparian Buffer Mitigation Bank"
dated April, 2008 DWQ agrees that upon receipt of an executed copy of this Certificate
transferring obligations to Banker that DWQ shall look solely to Banker for performance under
Permit for purposes of compliance with these Riparian Buffer mitigation requirements, and shall
hold Purchaser, its successors and assigns, harmless with respect to compliance with the
transferred Riparian Buffer mitigation requirements as stated in the Permit and in the event of
default pursuant to these Riparian Buffer mitigation requirements of the Permit, DWQ shall have
no recourse against Purchaser.
5. Upon execution of this Certificate by Banker, Banker shall forward an original of same to
DWQ acknowledging and agreeing to the transfer of the cited mitigation obligations from
Purchaser to Banker and Banker does, by execution of this Certificate, agree to comply with and
perform Purchaser's obligations for providing mitigation as set forth in DWQ Permit Condition,
as offset by their purchase of a total of 62,481 credits.
6. The Banker certifies that mitigation credits are immediately available to Transfer and that all
conditions relating to providing the transferred mitigation of Permit Action Condition are
satisfied.
7. Banker hereby acknowledges the debit of a total of 62,481 credits from Mitigation Bank
Ledger.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the
dates written below their signatures. Signed, sealed and delivered:
BANKER-FORREST CREEK RIPARIAN BUFFER MITIGATION BANK
N
LLC, a North Carolina limited liability company
Witness:
Print Name:
Date:
By;
Print Name: Matt R. Fisher
Regional Vice President
EarthMark Mitigation Services, LLC
Date: I-Z/ O9
Cyndi B. Karoly
Program Manager
401 Oversight and Express Review Program
Lauren Witherspoon - Raleigh Regional Office
Central Files