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Page 1 of 2 <br />BWSR Form: revised for Restoration Devlopment.doc <br />Revised 03/05/2009 <br />PURCHASE AGREEMENT <br />FOR <br />WETLAND BANKING CREDITS <br />THIS AGREEMENT is made this ___ day of ___________, 2009 between Restoration Development <br />LLC/U.S. Home Corporation (Sellers) and City of Mounds View (Buyer). <br />1.Sellers agree to sell to Buyer, and Buyer agrees to buy from Sellers, the wetland banking credits <br />(Credits) listed below: <br />CREDITS TO BE SOLD <br />Credit <br />Sub- <br />Group¹ <br />NWC <br />Acres or Sq. <br />Ft. <br />PVC <br />Acres or Sq. <br />Ft. <br />Wetland <br />Circ. 39 <br />Type² <br />Plant <br />Community <br />Type3 <br />Cost per <br />Acre or Sq. <br />Foot <br />State Fee <br />6.5%Fee Cost <br />A.0.065 <br />B.0.065 <br />C.0.065 <br />D.0.056 acres Type 5 65,340 acre 0.065 $237.83 <br />E.0.065 <br />Totals 0.056 acres $237.83 <br /> Check here if additional credit sub-groups are part of this account and are listed on an attachment to this document. <br />¹A separate credit sub-group shall be established for each wetland or wetland area that has different wetland characteristics. <br />²Circular 39 types: 1, 1L, 2, 3, 4, 5, 6, 7, 8, B, U. <br />³See Wetland Plants and Plant Communities of Minnesota and Wisconsin (Eggers and Reed, 1997)as modified by the <br />Board of Water and Soil Resources, United States Army Corps of Engineers. <br />2.Sellers represent and warrant as follows: <br />a)The Credits are deposited in an account in the Minnesota Wetland Bank administered by the <br />Minnesota Board of Water and Soil Resources (BWSR) pursuant to Minn. Rules Chapter <br />8420.0700-.0760. <br />b)Sellers own the Credits and have the right to sell the Credits to Buyer. <br />3.Buyer will pay Sellers a total of $3,659.04 for the Credits, as follows: <br />b)The sum of $1,219.68 to be paid to U.S. Home Corporation and $2,439.36 to be paid to <br />Restoration Development LLC on or before the Closing Date listed below.