Report, Colton Dunes Conservation Bank Agreement

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(29) "USFWS" means the United States Fish and Wildlife Service, an agency of the United States Department of the Interior. (30) "Vulcan" means Vulcan Materials Company, which is the name that Ca1Mat Co., a Delaware corporation is doing business as in California. III. TERMS AND CONDITIONS OF AGREEMENT NOW, THEREFORE, in consideration of the foregoing Agreement Recitals and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: 1.0. CONSERVATION BANK EVALUATION AND ACCEPTANCE 1.1. Evaluation of the Property has been undertaken by representatives of the USFWS who have inspected and generally evaluated the Property for purposes of determining its biological values in connection with the sale of Conservation Credits. As a result of benefits accruing to wildlife resources including sensitive, threatened, and endangered species and ,their habitats, and particularly to the Covered Species and associated habitat, and upon establishment of the Conservation Bank, the USFWS acknowledges that, subject to any limitations provided in this Agreement, the Property possesses biological values sufficient for issuance of Conservation 1.2. Notwithstandinganything to the contrary in this Agreement, in the event that the Property is re-evaluated during the Interim Management Period and the USFWS reasonably determines that portions of the Property have been damaged subsequent to the date of this Agreement due to factors other than the use of the existing License and: (1) the effect of such damage has been to materially impair the habitat values on the Property to the extent that the Property no longer supports the Covered Species; and (2) Owner can not reasonably restore habitat values to such damaged Property pursuant to the guidelines in the HEMP to support the Covered Species or provide the USFWS with reasonable evidence that habitat value will be 05/19/2005 8