20170110 Ver 2_Draft MBI 5-1-17_20170501

AGREEMENT TO ESTABLISH THE WEAVER FARM MITIGATION BANKING
INSTRUMENT IN THE NEUSE RIVER BASIN FOR RIPARIAN BUFFER AND
NUTRIENT OFFSET MITIGATION CREDITS PURSUANT TO THE NEUSE
NUTRIENT MANAGEMENT STRATEGY
TABLE OF CONTENTS
I. PREAMBLE............................................................................................................................ 2
II.
LOCATION AND GEOGRAPHIC SERVICE AREA .......................................................
2
III.
AUTHORITIES...................................................................................................................
3
IV.
ESTABLISHMENT OF WEAVER FARM PARCEL........................................................
3
V.
BANK PARCEL DEVELOPMENT PACKAGE...............................................................
4
VI.
POST CONSTRUCTION DOCUMENTATION................................................................
5
VII.
CALCULATION OF MITIGATION CREDITS................................................................
8
VIII.
CREDIT RELEASE SCHEDULE...................................................................................
9
IX.
PROCEDURE FOR DEBITING AND CREDITING MITIGATION CREDITS ..............
9
X.
BANK PARCEL CLOSURE.............................................................................................
11
XI.
GENERAL PROVISIONS................................................................................................
11
ATTACHMENTS
A — Division of Water Resources Authority Document
B — Buffer Ledger Template
C — Nutrient Offset Ledger Template
D — Rule Text 15A NCAC 02B .0240
E — Rule Text 15A NCAC 02B .0295 (Effective November 1, 2015)
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I. PREAMBLE
This Mitigation Banking Instrument ("Instrument") regarding the establishment, use,
operation, and maintenance of the Weaver Farm Nutrient and Buffer Mitigation Bank Parcel
("Bank Parcel") to provide Neuse Riparian Buffer mitigation credit ("Riparian Buffer Credits")
and Neuse Nutrient Strategy nutrient load reduction credit ("Nutrient Offset Credits") is made
and entered into by and among Restoration Systems, LLC acting as the Bank Sponsor
("Sponsor"), and the North Carolina Department of Environmental Quality — Division of Water
Resources ("DWR"). This Instrument is in accordance with 15A NCAC 02B .0240 and the
Consolidated Buffer Mitigation Rule 15A NCAC 02B .0295, which became effective on
November 1, 2015 (Attachment D and E).
The purpose of the Bank is:
A. To improve water quality of a tributary to Falling Creek through the restoration of riparian
buffer habitat and adjacent riparian areas.
B. To provide mitigation and sell any resulting Riparian Buffer Credits and/or Nutrient Offset
Credits to third parties in the Neuse River Basin, excluding the Falls Watershed, for
development (both existing and proposed) requiring such mitigation.
IL LOCATION AND GEOGRAPHIC SERVICE AREA
A. The Geographic Service Area ("GSA") is the designated area wherein a Bank can
reasonably be expected to sell Riparian Buffer Credits and/or Nutrient Offset Credits for
impacts due to development activities.
B. The Bank Parcel is located within the Neuse River Basin in the State of North Carolina,
United States Geological Survey ("USGS") 8 -digit Hydrologic Unit Code ("HUC")
03020201.
C. The project is comprised of one parcel of land in Wayne County, NC. The property is hay
production, turkey farming and cattle pasture and is accessed from Weaver Road, in
Grantham, NC. The project is located at 35.303888 N and 78.129087 W.
D. An unnamed tributary to Falling Creek is the receiving body of water for stormwater runoff
from this parcel. Falling Creek is classified by DWR as Nutrient Sensitive Waters (NSW).
E. Sale or transfer of Riparian Buffer Credits shall be limited to the 8 -digit HUC 03020201,
with the exception of the Falls Lake Watershed unless otherwise authorized by the DWR
or delegated local government in accordance with 15A NCAC 02B .0295.
F. Sale or transfer of Nutrient Offset Credits shall be limited to the 8 -digit HUC 03020201 in
the Neuse River Basin, with the exception of the Falls Lake Watershed in accordance with
15A NCAC 0213 .0240.
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IILAUTHORITIES
A. The Bank will be used to provide Riparian Buffer Credit and Nutrient Offset Credit in
accordance with the requirements in the DWR Authority document referenced herein as
"Attachment A" and attached to this Instrument.
B. Projects eligible for utilization of the credits are those requiring authorization under the
requirements of Attachment A and any new approved North Carolina ("State") statutes and
rules for the Neuse Nutrient Sensitive Waters Management Strategy.
C. All activities, including the sale of mitigation credits shall be consistent with approved
North Carolina ("State") statutes and rules for the Neuse Nutrient Sensitive Waters
Management Strategy.
IV. ESTABLISHMENT OF WEAVER FARM PARCEL
A. The Bank Parcel proposed for inclusion under this Instrument shall require a Bank Parcel
Development Package ("BPDP") be submitted to, and approved by, the DWR prior to use
of the Bank Parcel for mitigation purposes or sale or transfer of any associated credits. The
contents of the BPDP are provided in Section V.
B. The BPDP will be placed on public notice and made available for public commenting for
15 calendar days.
C. Riparian Buffer Credit may be achieved through restoration and preservation of DWR
riparian buffers as they are defined in 15A NCAC 02B .0233, and other riparian areas as
allowed per 15A NCAC 02B .0295 (n) and (o). Buffer credits are only attainable if the
width of the restoration site or preservation site is at least 20 feet from top of bank.
D. The Bank Parcel is intended to provide Neuse Riparian Buffer mitigation as follows:
1. Planting hardwood trees on a Restoration Site, as defined in 15A NCAC 02B .0295
(b) and (n) along one intermittent stream which is subject to the Neuse buffer
protection rule 15A NCAC .0233.
E. Nutrient Offset Credit may be achieved through restoration of the riparian area adjacent to
surface water features. Surface water features do not have to be intermittent or perennial,
nor do they have to be depicted on a USGS, NRCS, or EMC approved map. However,
surface water features must be hydrologically connected to and drain to jurisdictional
waters that are either intermittent or perennial. The width of the restoration area begins at
the most landward limit of the top of bank or the rooted herbaceous vegetation and extends
landward a maximum distance of 200 feet on all sides of the surface water.
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F. The Bank Parcel is expected to provide Nutrient Offsets as follows:
Planting hardwood trees on a Restoration Site, as defined in 15A NCAC 2B .0295
(b) and per 15A NCAC 02B .0295 (n) (2) along streams and water conveyances on
the Bank Parcel. Current land use is a combination of turkey farming, hay
production and cattle pasture. Cattle will be excluded from the Parcel.
G. The total area of mitigation on the Bank Parcel is expected to be less than 25 acres.
V. BANK PARCEL DEVELOPMENT PACKAGE
A. The Weaver Farm Bank Parcel Development Package (BPDP) shall be submitted to DWR
for review and approved prior to any construction on the Bank Parcel for mitigation. The
BPDP shall include detailed information consistent with the sections below concerning: 1)
site location (8 -digit HUC is required); 2) existing conditions; 3) proposed buffer
mitigation and nutrient offset activities including a detailed vegetation plan; 4) monitoring
and maintenance plans; 5) financial assurances; 6) associated buffer mitigation/nutrient
credit calculations, which shall include credit generation, service area, and accounting as
appropriate for each regulatory authority; 7) stream buffer determination letter from DWR,
and 8) site viability letter from DWR, and 9) service area figure.
B. The Sponsor will obtain all applicable federal, state, and local documentation, permits, or
authorizations needed to construct and maintain the Bank Parcel. This Instrument does not
qualify as, or substitute for, such documentation, permit, or authorization.
C. Any restoration and/or enhancement activities or construction within the riparian buffers
and other riparian areas on the Bank Parcel to produce Riparian Buffer Credit or Nutrient
Offset Credit must be approved by DWR in writing prior to construction. The failure of
the Bank Sponsor to comply with this Item may result in a revised or reduced credit release
schedule.
D. Requests for deviation from the approved BPDP must be submitted to DWR in writing.
Written approval from the DWR must be received prior to implementing any deviation
from the approved BPDP.
Property Disposition & Long Term Management
E. Prior to the release of any credits, the Sponsor shall acquire a permanent conservation
easement at the County Register of Deed's office that is sufficient to ensure protection,
operation and maintenance of restored riparian buffers and other riparian areas for the
duration specified in the approved BPDP.
F. The form of the conservation easement shall be consistent with the standards employed by
the State of North Carolina in the protection of restored riparian buffers and riparian areas
and shall be approved by the DWR prior to the release of any credits.
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G. The Sponsor shall not grant additional easements, right of ways, or any other property
interest in or to the project areas, without prior approval from the DWR.
H. The Sponsor agrees to transfer or assign the conservation easement and its interests in
perpetuity to a qualified holder under NC General Statute ("GS") 121-34 et seq. and 170(h)
of the Internal Revenue Code prior to the submittal of the Year 4 Monitoring Report. The
holder shall be a land trust or stewardship program that will hold and enforce the
conservation easement and the interests in perpetuity. The Sponsor shall choose a land
trust or stewardship program that is accredited by the Land Trust Accreditation
Commission and/or has been approved by DWR prior to the end of the fourth year
monitoring period. Aland trust must be certified under 501(c)(3) of the Internal Revenue
Code.
I. In the event that the Sponsor is also the owner of the underlying fee interest in the property,
the conveyance of the conservation easement to a land trust or stewardship fund must be
arranged at the outset of the approved BPDP.
Financial Assurances
J. Following approval of the BPDP, the Sponsor shall provide a Performance/Maintenance
Bond from a surety company that is rated no less than an "A-" as rated by A.M. Best, and
it is the Sponsor's responsibility to confirm that the surety company is rated at least "A-"
with each annual bond renewal.
K. The Performance Bond amount shall be 100% of the estimated cost for implementation of
the mitigation activities of the Bank Parcel as described in the approved BPDP. No bond
shall be less than $150,000.00 to cover construction costs.
L. Alternatively, in lieu of posting the Performance Bond, the Sponsor may elect to construct
the project prior to the first credit release.
M. Once DWR has released all credits for completion of Task 2 according to the credit release
schedule in Section VIII and the DWR has received the As -Built Report as described in
Section VI, and has submitted a written approval of the As -Built Report, then the Bank
Sponsor can be released from its performance obligations under the performance bond
required in "J -K" of this section.
VI. POST CONSTRUCTION DOCUMENTATION
As -Built Report
A. The Sponsor agrees to perform all necessary work, in accordance with the provisions of
this Instrument, to establish, maintain, and monitor Neuse Riparian Buffers or other
riparian areas until Item B (1) and (2) of Section X have been satisfied.
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B. The Sponsor will submit an as -built plan and report for the Bank Parcel within 30 calendar
days after completing the establishment of the buffer area and nutrient offset area. The as -
built report will describe any deviation from the approved BPDP and will document the
following:
1. Buffer restoration: planting details, invasive species control, monitoring device
locations, vegetation plot locations, photo point locations, surface and groundwater
elevations, as appropriate.
2. Boundary Survey of the conservation easement area, signed and sealed by a
licensed surveyor, including an enumeration of the final mitigation areas for
riparian buffer and/or nutrient offset mitigation credits in both square feet and acres.
3. As -built aerial map of the mitigation area showing where restoration was performed
and any deviations to the Bank Parcel from what was approved in the BPDP.
4. Aerial map of the mitigation area that was included in the approved BPDP.
Financial Assurance
C. After completion of the restoration/construction, a separate Performance/Maintenance
Bond will be secured for 100% of the estimated cost to implement the monitoring and
maintenance plan as described in the approved BPDP. The Bond must be from a surety
company that is rated no less than an "A-" as rated by A.M. Best, and it is the Sponsor's
responsibility to confirm that the surety company is still rated no less than an "A-" with
each annual bond renewal.
D. A Performance/Maintenance Bond shall be secured each year for a minimum of five years,
and until DWR has released all mitigation credits to the Bank Sponsor. Upon DWR
approval, the bond may be lowered each year based on the adjusted cost to complete the
monitoring. No bond shall be less than $100,000 to cover monitoring and maintenance
costs.
E. Once DWR has released all credits for completion of Tasks 1-9 according to the credit
release schedule in Section VIII, the Bank Sponsor can be released from its performance
obligations under the performance bond required in "C -D" of this Section.
Monitoring and Maintenance Reports
F. The Sponsor shall monitor the Bank Parcel as described in the BPDP until such time as
DWR determines that the success criteria described below have been met. The monitoring
period shall be a minimum of five consecutive years.
Page 6114

G. Performance Standards for Vegetation: Native hardwood trees or native hardwood tree
and shrub species should be planted at a density sufficient to provide 260 stems per acre
after five years. A minimum of four (4) native hardwood trees or four (4) native hardwood
tree and shrub species must be planted. No one species shall be greater than 50% of the
planted stems. A list of species for planting will be detailed in the BPDP for approval.
Native hardwood tree volunteer species may be included to meet performance standards as
determined by the DWR.
H. A "stem" means a woody seedling, sapling, shrub or tree, no less than 10 centimeters in
height.
I. If the performance standards of the vegetation are not met, supplemental plantings may be
required. Supplemental plantings will be utilized until the required densities have been
achieved and maintained for five years. Bank Parcel maintenance, such as ensuring diffuse
flow, managing invasive species, and pest control will be included in the BPDP.
J. Monitoring Reports for Riparian Buffer Credit or Nutrient Offset Credit: Reporting
criteria of the riparian restoration areas shall be based on the Carolina Vegetation Survey
(CVS) — EEP Protocol for Recording Vegetation Level 2 Plot Sampling Only Version 4.0
or any updated versions of this protocol in place at the date of acceptance of the BPDP.
The Sponsor shall submit to the DWR an annual monitoring report no later than December
31 of each year for a minimum of five consecutive years after the first full growing season.
This report will describe the conditions of each Bank Parcel, including an evaluation of the
performance standards of the vegetation contained within the approved BPDP. Reports
shall contain the following:
1. A U.S. Geological Survey map showing location of the Bank Parcel;
2. A detailed narrative summarizing the condition of the Bank Parcel along with any
maintenance or remediation performed that year; and
3. A map, survey, or other figure showing locations of sampling plots, permanent
photo points, location of transects, etc.; and
4. Monitoring data, including specific vegetative counts showing that the trees or tree
and shrub species planted are meeting performance standards and updated
photographs; and
5. A copy of the most recent Bank credit/debit ledgers; and
Corresponding verification letters from designated local governments upon request;
and
7. Corresponding Mitigation Transfer Certificates upon request.
Page 7114

Contingency Plans/Remedial Actions
K. In the event the Bank Parcel fails to achieve the success criteria described in this Instrument
and the approved BPDP, the Bank Sponsor shall develop necessary contingency plans in
coordination with the DWR and implement appropriate remedial actions for the Bank
Parcel and the Bank. Depending on the degree of remedial actions required, the DWR may
modify the monitoring period.
VII. CALCULATION OF MITIGATION CREDITS
Riparian Buffer Credits
A. All Riparian Buffer Credits shall be determined based on the ratios and percentages
provided in 15A NCAC 0213 .0295 (m) and (n).
B. Riparian buffer restoration on the Bank Parcel, as defined in 15A NCAC 02B .0295, may
be used for either Riparian Buffer Credit or Nutrient Offset Credit, but not both.
C. Riparian Buffer Credit is defined as one (1) buffer credit per one square foot or 43,560
buffer credits per one acre.
Nutrient Offset Credits
D. All Nutrient Offset Credits will be determined by including the applicable ratio as provided
in 15A NCAC 02B .0295 (m) for a Restoration Site.
E. Nutrient Abatement of Restored Riparian Area/Buffers: The Sponsor and DWR agree:
1. The pounds of nitrogen offset per acre of restored riparian areas/buffers shall be
two thousand two hundred and seventy-three pounds per acre (2,273.02 lbs/acre).
F. The Sponsor and DWR agree that the methodology and calculations for determining
nitrogen and total phosphorous reduction, associated with restoration of riparian areas on
this Bank Parcel, shall be fixed as part of the approval of the MBI and BPDP, with the
fixed amount not changing during the development or credit release schedule for the Bank
Parcel.
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VIII. CREDIT RELEASE SCHEDULE
A. Credit Release: Upon submittal of all appropriate documentation by the Sponsor, and
subsequent approval by DWR, it is agreed that the mitigation credits associated with the
Bank Parcel will become available for sale to a third party in accordance with the following
schedules:
Table I - Credit Release Schedule for Riparian Buffer and Nutrient Offset Credits
Task
Project Milestone
% Credit
Available for
Sale
1
MBI and BPDP Approved by DWR, Conservation Easement Recorded* and
Financial Assurance Posted
20
2
Mitigation Site Earthwork, Planting and Installation of Monitoring Devices
Completed
20
3
Monitoring Financial Assurance Posted and Approval of As -Built Report
10
4
Monitoring Report #1: Approved by the DWR** & financial assurance renewed
10
5
Monitoring Report #2: Approved by the DWR** & financial assurance renewed
10
6
Monitoring Report #3: Approved by the DWR** & financial assurance renewed
10
7
Item B (1) of Section X in this Instrument has been completed and approved by
DWR.
5
No remaining credits will be released until Task 7 has been satisfied
8
Monitoring Report #4: Approved by the DWR** & financial assurance renewed
5
9
Monitoring Report #5: Approved by the DWR** and final site visit by DWR has
been conducted
10
Total
100%
* For specification, please see Section V in this Instrument
** DWR Approval provided upon a determination that the site is meeting success criteria contained within the
approved BPDP
B. DWR may modify the credit release schedule based on the information submitted or the
order in which required information is received. DWR will notify the Sponsor of any
modification to the credit release schedule.
IX. PROCEDURE FOR DEBITING AND CREDITING MITIGATION CREDITS
Credit Ledters
A. The Bank Sponsor shall maintain two credit ledgers for the Bank Parcel under this
Instrument: one accounting for buffer restoration mitigation credits in square feet and acres,
and one accounting for nutrient offset credits in pounds nitrogen and acres.
B. Each credit ledger shall be submitted on a separate 8 1/tin X l lin spreadsheet with legible
font style and font size. All ledgers shall be submitted using the templates provided in
Attachments C and D of this Instrument or any updated versions to these templates as
provided by DWR.
Page 9114

Credit Processing
C. Riparian Buffer Credits generated on this Bank Parcel must be provided to offset impacts
within the Neuse River Basin according to 15A NCAC 02B .0295 (g).
D. Nutrient Offset Credits generated on this Bank Parcel can only be provided to offset
nutrient loadings within the 03020201 HUC of the Neuse River basin, excluding the Falls
Lake Watershed.
E. Available mitigation credits (credits that have been released by DWR but not sold by the
Sponsor) that are generated from riparian buffer restoration, as defined in 15A NCAC 02B
.0295 (b) and described in 15A NCAC 02B .0295 (n) along intermittent streams can be
converted and transferred from Riparian Buffer Credits to Nutrient Offset Credits and from
Nutrient Offset Credits back to Riparian Buffer Credits upon written approval from DWR.
F. Available mitigation credits that are generated from riparian restoration, as defined in 15A
NCAC 02B .0295 (b) and described in 15A NCAC 02B .0295 (n) along intermittent
streams, may be converted from Nutrient Offset Credits to Riparian Buffer Credits and
from Riparian Buffer Credits back to Nutrient Offset Credits. All Ratios and percentages
of full credit will be applied to Riparian Buffer Credits according to 15A NCAC 02B .0295
(m) and (n) and ratios will be applied to Nutrient Offset Credits according to 15A NCAC
0213 .0295 (m).
G. The Bank Sponsor shall obtain verification of nutrient offset need from a designated local
government in the Neuse River Basin, outside of the Falls Watershed, prior to debiting
Nutrient Offset Credits from the Bank Parcel.
H. The Bank Sponsor shall obtain verification of buffer mitigation required from the delegated
local government in the Neuse River Basin outside of the Falls Watershed or DWR prior
to debiting Riparian Buffer Credits from the Bank Parcel.
I. All credit and debit transactions for each Bank Parcel under this Instrument shall be
accurately depicted in the credit ledgers. DWR shall be notified of each credit sale or credit
transfer within thirty (30) calendar days by electronically submitting an updated credit
ledger to DWR. At a minimum, DWR shall receive a hard copy of updated credit ledgers
along with the corresponding Mitigation Credit Transfer Certificates ("Certificate") and all
corresponding letters from the designated local governments twice a year. Notification of
all credit sales shall be provided to DWR until all credits that have been released have been
sold.
Mitigation Credit Transfer Certificates
J. All credit sales will include a Mitigation Credit Transfer Certificate ("Certificate") that is
required to be provided to the buyer of Riparian Buffer and/or Nutrient Offset credits, that
will include, at a minimum, the following information:
Page 10114

Bank Details: (1) sponsor Name, (2) name of the approved banking instrument as
it appears on the instrument document, (3) bank parcel name as it appears on the
BPDP, (4) DWR project number for the BPDP.
2. Credit Details: (1) date of receipt, (2) identify if full or partial payment, (3 — when
applicable) amount of nitrogen credits purchased in pounds and confirmation from
the designated local government of the amount required, (4 — when applicable)
amount of phosphorous credits purchased in pounds and confirmation from the
designated local government of the amount required, and (5 — when applicable)
amount of Riparian Buffer Credits purchased in square feet and the confirmation
from DWR or the local government of the amount required.
3. Project Details: (1) project name as it appears on DWR or local government permits
and/or certifications, (2) 8 -digit HUC, (3) river basin, (4) nutrient strategy
applicable to the project, (5 — when applicable) designated local government
requiring Nutrient Offset Credits, and/or (6) DWR authorization number or
delegated local government requiring Riparian Buffer Credits for this project.
K. If the DWR determines that the Bank is operating at a deficit (e.g. the Sponsor is closing
on sales and/or transferring credit that is not available), or the Bank is selling credits out of
compliance with statutes, rules or this Agreement, the sale/transfer of credits will
immediately cease, and the DWR, in consultation with the Sponsor, will determine what
remedial actions are necessary.
X. BANK PARCEL CLOSURE
A. Bank Parcel Closure shall be identified as the event when the Sponsor is relieved of all of
its responsibilities to the Bank Parcel and there are no mitigation credits left to sell.
B. Bank Parcel Closure shall commence only after all of the following events have occurred:
1. Transfer or assign the conservation easement and all of its interests, in perpetuity,
to a land trust or stewardship program as described in Section V of this instrument.
2. All five years of monitoring completed and all monitoring reports submitted and
approved by DWR
3. All credits have been released and debited and updated ledgers showing zero credit
balances have been submitted and approved by DWR.
XI. GENERAL PROVISIONS
A. Upon the presentation of proper credentials, and during normal business hours, the Sponsor
and the landowner shall grant permission to the Director of DWR, an authorized
representative of the Director of DWR, to enter the property containing the Bank Parcel(s).
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B. Amendments: This Banking Instrument may be amended or modified only with written
approval of all signatory parties.
C. Any transfer of the Sponsor's rights or obligations outlined in this Instrument or any other
agreement referenced in this Instrument to a third party must be approved by DWR prior
to the transfer.
D. Force Majeure: After 100% of all of the credits have been released according to the credit
release schedule in Section VIII and confirmation has been received by the DWR that the
Conservation Easement has been successfully assigned in compliance with Item H of Section
V, the Sponsor will not be responsible for Bank failure that is attributed to natural catastrophes
including but not limited to flood, drought, disease, regional pest infestation, etc. that are
beyond the control of the Sponsor.
E. However, if an event occurs before 100% of all of the credits have been released according to
the credit release schedule in Section VIII, the Sponsor shall take remedial action to restore the
property to its condition prior to the event, in a manner sufficient to provide adequate mitigation
to cover credits that were sold prior to the occurrence of the event. Such remedial action shall
be taken by the Sponsor only to the extent necessary and appropriate, as determined by DWR
and the Sponsor.
DWR must concur in writing that a force majeure event has occurred for this provision to apply.
F. Oversight: Actions taken by DWR may include, but are not limited to, the following:
1. Site visits
2. Mitigation determinations/mitigation viability assessments.
3. BPDP review and approval of items listed in Section V of this instrument.
4. As -Built Report review and approval of items listed in Section VI of this
instrument.
5. Monitoring Report review and approval of items listed in Section VI of this
instrument.
6. Credit Ledger review and approval of items listed in Section IX of this instrument.
7. Certificate review of items listed in Section IX of this instrument and cross analysis
to credit ledgers.
8. Information requests, file reviews and audits
Reports, ledgers, files and other information shall be made available to DWR upon request,
unless otherwise specified in this or any other document.
G. Validity of the Banking Instrument: This Instrument will become valid on the date of the
last party's signature.
H. Specific Language of Banking Instrument Shall Be Controlling: To the extent that specific
language in this document changes, modifies, or deletes terms and conditions contained in
those documents that are incorporated into the Instrument by reference, and that are not
legally binding, the specific language within the Instrument shall be controlling.
Page 12114

I. Any disputes over decisions regarding this Instrument, shall be referred to the Director of
DWR for a decision. The Director's decision is subject to review as provided in Articles
3 and 4 of G.S. 15013.
J. This Agreement shall be binding upon the parties and is entered into knowingly,
intelligently, and voluntarily.
K. Notices: All notices and other communications which may be or are required to be given
or made by any party to the other shall be in writing and shall be deemed to have been
properly given and received on the date delivered in person or deposited in the United
States mail, registered or certified, return receipt requested, to the addresses set out below,
or at such other addresses as specified by written notice delivered in accordance herewith.
If to Bank Sponsor: 1101 Haynes Street, Suite 211
Raleigh, NC 27604
Attn: Tiffani Bylow
If to DWR: NC Division of Water Resources — 401 & Buffer Permitting Branch
Attn: Nutrient Offset Banking Coordinator
1617 Mail Service Center
Raleigh, NC 27699-1617
L. Applicable Law: This Agreement shall be construed under the laws of the State of North
Carolina. Am %k . _,-4Ekkk-
Page 1,3114

Restoration Systems, LLC
By: (Print)
(Signature)
Title:
Date:
NORTH CAROLINA DEPARTMENT OF ENVIRONMENTAL QUALITY -DIVISION OF
WATER RESOURCES
By: (Print)
(Signature)
Title:
Date:
Page 14114
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