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6 EXIT <br />C <br />y <br />WETLAND MITIGATION PURCHASE AGREEMENT <br />GRAFTON SWAMP WETLANDS MITIGATION BANK <br />WHEREAS, the discharge of dredged or fill material into waters of the United States and waters of the <br />State of Ohio, including wetlands, is regulated pursuant to Section 404 of the Clean Water Act, 33 U.S.C. § <br />1344, and/or Ohio Revised Code Chapter 6111; and <br />WHEREAS, entities planning to place dredged or fill material into waters of the United States or <br />waters of the State of Ohio, including wetlands, must comply with standards and conditions imposed by the <br />Army Corps of Engineers (the "Corps") and/or the Ohio Environmental Protection Agency (the "Ohio EPA") <br />including, in many cases, the mitigation of wetland impacts; and <br />WHEREAS, the Stream + Wetlands Foundation ("S+W") has participated in the Interagency Review <br />Team ("IRT") review process and received approval from the IRT (which includes the Corps and Ohio EPA) to <br />establish the Grafton Swamp Wetlands Mitigation Bank and to sell wetland mitigation credits to entities <br />required to mitigate for impacts to wetlands and other waters pursuant to the Section 404/401 permit <br />process and Ohio's Isolated Wetland Permit process; and <br />WHEREAS, the Corps and the Ohio EPA have agreed to consider the purchase of wetland mitigation <br />credits in an appropriate service area approved by the IRT to fulfill an entity's requirement to mitigate wetland <br />impacts. <br />THEREFORE, City of North Olmsted ("Client") and S+W agree they will comply with the following <br />guidelines and procedures by which Client will purchase wetland mitigation credits from S+W, representing <br />the restoration of wetlands in the State of Ohio which will be permanently maintained and which will serve to <br />mitigate wetland impacts permitted under Sections 404 and 401 of the Clean Water Act and in accordance <br />with ORC Chapter 6111. <br />1. RESERVATION OF CREDITS AND PAYMENT TERMS FOR THE CLIENT <br />A. Pursuant to the requirements of Sections 401 and 404 of the Clean Water Act and the <br />regulations promulgated thereunder and/or ORC Chapter 6111, Client Is obligated to mitigate for impacts <br />to 2.04 acres of jurisdictional wetlands and 0.0 acres of isolated wetlands at its North Olmsted <br />South Interceptor Equalization Tank Improvements site located at 6271 Stearns Road in the _ City of North <br />Olmsted Cuyahoga County Ohio. The proposed impacts are located in the Erie Lake Plain Level III <br />Ecoregion. Based on the sale price of $60,000 per acre of mitigation credit and in tenth -acre Increments (0 1), <br />the Client hereby agrees to pay S+W the amount of $ 126,000 in consideration for the purchase of <br />0 acres of non -forested and 2.1 acres of forested wetlands mitigation credits at the Grafton Swamp <br />Mitigation Bank. S+W will reserve the necessary wetland credits (acreage) for a period of six (6) months (the <br />"Reservation Period") upon receipt of a signed Purchase Agreement and a deposit payment of $ 18,900 <br />(equal to 15% of the total sale price). If Client has not received the necessary approvals pursuant to Section <br />404 and/or 401 of the Clean Water Act or the Ohio Isolated Wetland Permit program during the Reservation <br />Period, S+W will extend the Reservation Period for an additional -.15 6 months upon receipt of an additional <br />Page 1 of 3 <br />eaAmnnn anrau <br />