Laserfiche WebLink
WETLAND MITIGATION CREDIT BUY/SELL AGREEMENT <br /> SNOHOMISH BASIN MITICATION BANK <br /> This Wetland Mitigation Credit Buy/Sell Agreement ("Agreement") is made by and <br /> between HABITAT BnNK, LLC, a Washington limited liability company ("Bank Sponsor"), and <br /> Rex Chase, an individual. ("E3uyer') (collectively "Parties"). <br /> 1. REGTALS . <br /> 1.1. With approval and authorization from lhe Washington State Department of Ecology <br /> ("Gcology"), U.S. Army Corps of En�rineers("Corps"), Environmental Protection <br /> Agency ("EPA"), Washington State Department of Natural Resources ("DNR"), and <br /> Snohomish Counry ("County") (collectively the"Pcrmitting Authorities"), Banlc <br /> Sponsor has established a wetland mitigation bank known as the"Snohomish Basin <br /> Mitigation Bank" ("SBMB"). <br /> 1.2. 7'he SBMII is established to operate within a portion the State of Washinbnon's Water <br /> Resource Inventory Area Number 7 ("WR1A No. 7"), which portion constitutes the <br /> SRMB's "Service Area." <br /> 1.3. 'I'he purpose of the SBMB is to provide off-site mitigation for wiavoidabie impacts to <br /> wetlands associated with certain development activity within the Service Area. <br /> 1.4. Aank Sponsor is authorized by the Permitting Authorities to operate the SBMB and to <br /> obtain, hold, sell, and transfer wetland mitigation credits, said credits being units of trade <br /> representing th� increase in ecological value of a site, as measured by acreage, functions, <br /> and/or values("Mitigation Credits"). . <br /> 1.5. Buyer corc.emplates widerlaking a development activiry ("ProjecP'), which will require <br /> permits and/or approvals ("Pertnit(s)") from regulatory agencies and which development <br /> activiry may cause unavoidable impacts to weUands and may require mitigation. I�uyer <br /> is solely responsible for determining whether suc:h mitigation can be satisfieJ by its <br /> acquisition of Mitigation Credits.. , <br /> 1.6. E3uycr wishes to purchase from I3ank Sponsor and Danl: Sponsor wishcs to scll to Buycr <br /> one or more Mitigation Credits frocn the SBMB for the Project on the tertns and <br /> conditions contained in this A�mcnt. <br /> 2. AGREEMENT <br /> NOW THEREFORE, in consideration of the mutu�l covenants and conditions and promises <br /> contained in this Agreement, and for other good and valuable consideration, the receipt and <br /> sufficiency of which is acknowledged, Bank Sponsor and Buyer agree as follows: <br /> J � July 10, 2007 <br /> L <br />