Report, Colton Dunes Conservation Bank Agreement

Browse Search

period shall be considered that time until all of the Conservation Credits are sold, the Agreement is terminated pursuant to Section 1.2 or Section 11 of thisAgreement, or at the end of ten years, whichever is sooner. (19) "License" means the August 31, 1988 License between Vulcan and California Portland Cement Company ("CPC''), a California corporation, that provides CPC and its agents a non-exclusive right to use a portion of the Property to store waste rock at a specific location designated by Vulcan provided CPC obtains all required permits and approvals, including compliance with the ESA. A copy of the License is attached hereto as Exhibit N. The license expires on August 31, 2008. (20) "Management Agreement" means an agreement approved by the USFWS between the Conservation Bank Owner and a third party approved by the USFWS to assign the Owner's rights, duties, and obligations under this Agreement. The Management Agreement must address all property within the Property boundary. If executed, the Management Agreement. shall become part of this Agreement. A copy of the Management Agreement is attached hereto as Exhibit K. (21) "Management Entity" means the Owner or a third party retained by the Owner and approved by the USFWS that manages the Conservation Bank pursuant to the HEMP. (22) "Owner" means the possessor of legal title to the Property__sub'ect_to this_A$reement,._ its successors, or assigns. (23) "Property" means Owner's real property upon which Conservation Easements may be recorded and the Conservation Bank may be established as described in this Agreement. (24) "Property Assessment" means 150 acres on the Property that Owner warrants may be burdened by a Conservation Easement(s) for conservation purposes in accordance with California Civil Code § 815 and this Agreement, and which excludes any portion of the Property subject to any right of way, easement, encumbrance, or any other matter to the extent that such 05/19/2005 6