Report, Colton Dunes Conservation Bank Agreement

Browse Search

and in accordance with the provisions of California Civil Code § 815 et seq. and USFWS approval, in the form set forth at and attached hereto as Exhibit I (including any property description and parcel map) or any other suitable restriction on the title or other instrument that adequately protects the habitat values of the Property and is approved by the USFWS. The Conservation Easement will be held by a qualified entity, e.g. the Riverside Land Conservancy. (8) "Covered Species" means endangered and threatened species and any additional species which the Parties determine will be adequately conserved as a result of implementation of this Agreement, including all life stages and associated habitat, as set forth in the Agreement Recitals and the HEMP attached hereto as Exhibit F. (9)' "Credit Evaluation" or "proportionate credit formula" means an evaluation undertaken to formulate the value of each Conservation Credit in relation to the acreage of habitat on a Conservation Easement recorded on the Property (where, for instance, a proportionate credit formula means one acre of habitat within the Conservation Bank upon which a Conservation Easement will be recorded equals one Conservation Credit), which is attached r hereto as Exhibit H. • (10 ) "Credit Sales Approval" means written approval provided by the USFWS to a project proponent indicating that conservation credits purchased from the Conservation Bank may be used as mitigation or compensatory conservation for Activities in the Service Area. (11) "Agreement for Sale of Conservation Credits" and "Credit Receipt" mean an agreement, to which an attachment is a credit receipt in the form attached hereto as Exhibit J, executed by Owner and issued for each sale or conveyance of a Conservation Credit as provided for in this Agreement. (I2) "Declaration of Trust" means a declaration by the trustee holding the Endowment Fund, that when established, the Endowment Fund will be utilized for conservation purposes consistent with this Agreement, any Conservation Easement, the HEMP, and any Management 05/19/2005 4