20070828 Ver 1_MBI Amendment_20120201

AMENDMENT TO THE APPROVED MITIGATION BANKING
INSTRUMENT (MBI) ENTITLED:
Agreement to Establish The Hidden Lake Wetland Mitigation Bank in
Tyrrell County, North Carolina
February 1, 2012
This Amendment is made pursuant to the 33 CFR 332.8 (g) and entered into on the day of
February 1, 2012, by Hidden Lake LLC and E. Carlyle and Cynthia K. Franklin, (Collectively, "
Sponsor ", and the U.S. Army Corps of Engineers (Corps), and each of the following agencies:
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 executed the MBI and this AMENDMENT, are hereinafter collectively referred to
as the Interagency Review Team (IRT).
WHEREAS the purpose of this agreement is to effect the mutually agreeable AMENDMENT
to the existing MBI governing the established mitigation bank (BANK) providing compensatory
mitigation for unavoidable impacts to waters of the United States, including wetland, authorized
by Section 401 and Section 404 of the Clean Water Act permits and / or Section 10 of the Rivers
and Harbors Act permits in appropriate circumstances;
WHEREAS the Sponsor is the record owner of that certain parcel of land containing
approximately 821 acres located in Tyrrell County, North Carolina, described in the existing
MBI and Mitigation Plan entitled: Plan for the Establishment of the Hidden Lake Wetland
Mitigation Bank.
WHEREAS the agencies comprising the IRT agree that the Bank site remains 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;
THEREFORE, it is mutually agreed among the parties to this agreement that the following
AMENDMENTS are adopted and will become part of the subject MBI upon the signatures of the
IRT agencies listed above. It is understood that all terms and conditions of the original MBI
remain in full force and effect except as modified by the AMENDMENTS described below

AMENDMENTS TO THE MBI:
A. Bank Sponsor is: Hidden Lake LLC and E. Carlyle and Cynthia K. Franklin (Collectively,
"Sponsor ").
B. Item 16 reads: Sponsor has performed the work described in the Proposed Action Section of
the Mitigation Plan, including hydrologic and soil modifications and plantings. The purpose
of the work and the objectives of the Bank are to restore 48.4 acres of prior converted (PC)
cropland to wetflat (WF), nonriverine swamp (NRS), and Atlantic white cedar (AWC)
wetlands, and to preserve 762.6 acres of natural WF and NRS wetlands has been
accomplished.
C. Item 23 reads: The Service Area I will be changed to include the entire Albemarle Sound
Hydrologic Unit (03010205) in North Carolina.
D. Item 24, Table: The table is as follows:
Natural Community Description Area (ac.) Mitigation Wetland HGM
Activity Type 1.] Type 2.]
Atlantic white cedar forest 3.5 +/- restoration PFOE WF
(Chamaecyparis thyoides)
Nonriverine wet hardwood forest 254.5+/ -
(Quercus,Liquidambar,Nyssa, 38.6+/ -
Pinus) .
preservation PFO 1 E WF
restoration
Nonriverine hardwood swamp 508.1 + /- preservation PFO1 C/F NRS
(Nyssa, Taxodium 6.3 +/- restoration
Small depressional pond 4.0 +/- preservation POW NRS
(Hidden Lake) (no credit) PEM/SS
TOTALS 815.0 + /- Restoration and Preservation
6.3 +/- Road right -of -way
821.3 + /- Total surveyed acres
l.] Cowardin, 1979; 2. ] Brinson, 1993
E. Item 25 is as follows:
Successful implementation of the Mitigation Plan has resulted in the creation of the following
numbers and types of mitigation credits:

• 3.5 credits of AWC wetlands (3.5 acres of restoration @ 1:1 ratio).
• 89.5 credits of nonriverine wet flat hardwood wetlands (38.6 acres of restoration @
1:1 ratio and 254.5 acres of preservation @ 5:1 ratio = 50.9 credits.
• 107.9 credits of nonriverine swamp hardwood wetlands (6.3 acres of restoration @
1:1 ratio and 508.1 acres of preservation @ 5:1 ratio = 101.6 credits).
• Total Credits from Restoration — 48.4 credits
• Total Credits from Preservation —152.5 credits
• TOTAL MITIGATION CREDITS AVAILABLE — (Subject to Item F) - 200.9
F. Item 29 reads as follows: The MBRT has determined that the Bank has successfully
completed 5 years of monitoring and following an on -site inspection, the Sponsor was
notified by letter from the. Corps (06/04/04) that the work on the property was successful
and no additional monitoring will be required. All Bank credits will be available for sale
immediately upon completion of the following:
a. Recordation of a conservation easement offering permanent, perpetual conservation
use of the Bank site; .
b. Execution of this AMENDMENT by all parties whose names appear as signatories; and
c. Delivery of the security required by Paragraph 35 of this MBI.
G. Sale of the Bank to Another Entity: If the CURRENT Sponsor completes the creation of the
Bank under terms of Item F of this AMENDMENT, and subsequently decides to sell the
Bank, the new owner will become the Bank Sponsor with the approval of the Corps and
members of the IRT. If the current Sponsor decides to sell the Bank prior to completion of
the terms of Item F, and the buyer wants to complete creation of the Bank under terms of
Item F, then the buyer must be approved by the Corps and members of the IRT as an
acceptable Sponsor, and the new buyer must accept all responsibilities required of the Bank
Sponsor.
IN WITNESS WHEREOF, the parties hereto have executed this AMENDMENT to the
approved Mitigation Banking Instrument entitled: Agreement to Establish the Hidden Lake
Wetland Mitigation Bank in Tyrrell County, North Carolina, December 1, 1998.
Sponsor:
By: Date:

U.S. Army Corps of Engineers:
C
U.S. Environmental Protection Agency:
Date
By:
Date
U.S. Fish and Wildlife Service:
By:
Date
National Marine Fisheries:
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