20191641 Ver 1_Credit Reservation_executed_20191218

CREDIT RESERVATION
This CREDIT SALES RESERVATION AGREEMENT (hereinafter referred to as "Agreement") is
made and entered into this 10th day of December 2019 by and between Restoration Systems, LLG
a North Carolina limited liability company (hereinafter referred to as "Seller"), and
Hendrick Automotive Group (hereinafter referred to as "Purchaser").
1. PROJECT NAME: Reggie Jackson Airport Honda
(hereinafter the "Project")
9500 Lumley Road
Raleigh, NC 27617
PURCHASER: Hendrick Automotive Group
Attn: Gene Cocchi
6000 Monroe Road, Suite 100
Charlotte, NC 28212
PRICING:
Number of credits
purchased
Credit type
Bank
Credit
price (per
unit
Total purchase
price
748.50 s ft
Riparian Buffer
Pancho
$0.94
$ 703.59
4,736.65 s ft
Riparian Buffer
Weaver Farm
$0.94
$4,452.45
33,001.27 s ft
Riparian Buffer
Half Mile
$0.94
$31,021.19
TOTAL: 38,486.42 s ft
TOTAL
$ 36,177.23
3. PAYMENT:
3.1 Payment: Seller agrees to accept from Purchaser payment of 10% of the total dollar
value in the amount of three thousand six hundred seventeen and 72/100 ($3,617.72),
representing a deposit for a 60-day credit reservation.
3.1a Payment: Seller agrees to extend the reservation for an additional 30 days with
a subsequent deposit of 10% of the total dollar value in the amount of three thousand six
hundred seventeen and 72/100 ($3,617.72).
"Agreement is null and void if permit is not issued within one year from date of
execution and Seller will refund the deposit to Purchaser"
3.2 Sale and Transfer: Seller's receipt of the remaining purchase price shall result in
Credits made available for immediate transfer to Purchaser by Seller. No credits shall be
1101 1laynes St.. Suite 211 • Raleigh. NC 27604 • %vwxv.restorationsysiems.com • Ph 919.755.9490 • Px 919.755.9492

transferred, sold, or otherwise conveyed by Seller to Purchaser pursuant to this Agreement
prior to Seller's receipt of the Total Purchase Price.
4. DELIVERABLES: Mitigation Credit Transfer Certificate provided by the Seller.
5. LIABILITY FOR COMPENSATORY MITIGATION: In consideration for receiving the Payment
from Purchaser, Seller shall assume liability for providing compensatory mitigation under
the terms of this Agreement and in accordance with U.S. Army Corps of Engineers Section 404
permit and NC Department of Environmental Quality - Division of Water Resources Section
401 certification requirements.
6.
8.
COMPLETE AGREEMENT: This Agreement constitutes the full and complete agreement by
and between Seller and Purchaser for the sale of compensatory mitigation credits for the
Project.
GOVERNING LAW: This Agreement shall be construed, interpreted, and enforced solely
under the laws of the State of North Carolina.
NONASSIGNABILITY: This Agreement may not be assigned without the consent, in writing,
of the other Party.
9. AGREEMENT BIND
C.ene Cocchi
Hendrick Automotive Group
Date: ! 2--I n'z 1 1 q mm_
ON SUCCESSORS: This Agreement shall be binding upon the Parties,
es, heirs, successors, and assigns to the full extent of prevailing law.
p___L —
By) -6 (By)
John Preyer
President
Restoration Systems, LLC
Date: 12/10/2019
1 101 Haynes St.. Suite 211 • Raleigh. NC 27604 • www.restorationsystems.com • Ph 919.755.9490 • Px 919.755.9492