Laserfiche WebLink
APR 2 8 2015 N-2015-045 <br />O PWA 0 <br />aly OL AGREEMENT FOR SALE OF CREDITS <br />d+& STREAMBED ALTERATION AGREEMENT NO. 1600-2001-0168-R5 <br />This Agreement is entered into this ' ' day of March, 2015, by and between the Land <br />Veritas Corp. (Bank Sponsor) and the City of Santa Ana (Project Proponent), jointly <br />referred to as the "Parties," as follows: <br />RECITALS <br />A. The Bank Sponsor has developed the Soquel Canyon Mitigation Bank <br />(Bank) located in San Bernardino and Orange Counties, California; and <br />B, The Bank has been developed pursuant to a Bank Enabling Instrument <br />entered into by and between Bank Sponsor, Land Veritas I, LLC (Bank Owner), the U.S, <br />Army Corps of Engineers (USACE), the U.S. Environmental Protection Agency (EPA), <br />the Santa Ana Regional Water Quality Control Board (RWQCB), and the California <br />Department of Fish and Wildlife (CDFW); and <br />C. Project Proponent is seeking to implement the project described on Exhibit <br />"A" attached hereto (Project), which would impact Waters of the State thereon, and seeks <br />to compensate for such impacts by purchasing Credits from Bank Sponsor; and <br />D. Project Proponent has been authorized by the CDFW under permit number <br />1600-2001-0168-R5 to purchase from the Bank Sponsor 0.10 acre of Intermittent Stream <br />System/Intermittent Riparian Enhancement/Walnut Woodland Enhancement Credits; and <br />E. Project Proponent desires to purchase from Bank Sponsor and Bank <br />Sponsor desires to sell to Project Proponent 0.10 Intermittent Stream System/Intermittent <br />Riparian EnhancementfWalnut Woodland Enhancement Credits. <br />F. Project Proponent will be considered to have fulfilled its mitigation <br />obligations for the project described in Exhibit A once the payment is received according <br />to this agreement. <br />NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br />1. Bank Sponsor hereby sells to Project Proponent and Project Proponent <br />hereby purchases from Bank Sponsor Proponent 0.10 Intermittent Stream <br />System/Intermittent Riparian Enhancement/Walnut Woodland Enhancement Creditsfrom <br />the Bank for the purchase price of $24,900. The Bank Sponsor will then deliver to Project <br />Proponent an executed Bill of Sale in the manner and form as attached hereto and <br />