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(1) "Activity or Activities" means construction, alteration, or development including, <br />but not limited to, the construction, development, occupation, or operation of industrial, <br />commercial, or residential property, as well as any related or associated actions or infrastructure, <br />within the "Service Area." <br />(2) "Agreement" means this document. <br />(3) "Bond" means Endowment Bond, Conservation Bond or Restoration Bond as <br />defined herein. <br />(4) "Conservation Bank" means the conservation bank established pursuant to this <br />Agreement. <br />(5) "Conservation Bond" means a bond to be acquired by Vulcan payable to an entity <br />approved by the USFWS to cover the estimated costs associated with the initial habitat <br />enhancement, restoration, and maintenance activities described in the HEMP during the Interim <br />Management Period should Vulcan default on its obligation under this Agreement. An example <br />of the format of such a Conservation Bond is attached hereto as Exhibit G. This bond will no <br />longer be required, and shall be released, once the initial habitat enhancement, restoration, and <br />maintenance activities required by the HEMP have been completed. Prior to final release of the <br />Conservation Bond the bond amount can be revised annualIv to accoun <br />initial work required by the HEMP that have already been completed. <br />(6) "Conservation Credit" means a unit of mitigation or compensatory conservation <br />determined by the Parties by use of the method set forth in the Credit Evaluation attached hereto <br />as Exhibit H, which is available to serve as mitigation or compensation for Activities in the <br />Service Area as determined on a project -by -project basis. <br />(7) "Conservation Easement' means any conservation easement recorded on the <br />Property for conservation purposes in perpetuity consistent with this Agreement and subject to - <br />05/19/2005 3 <br />