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r � DG7 - 70 j , MARY-A MITIGATION BANK CREDIT RESERVATION AND PURCHASE AGREEMENT THE MARY-A II , LLC , a Florida limited liability company, the owner of the land which derives the Mary -A Mitigation Bank (hereinafter referred to as "Seller") does hereby reserve and set aside for future assignment for the sole benefit of Indian River County, Florida hereinafter referred to as "Buyer"), a total of up to One-tenth ( 1 / 10) (to the nearest tenth of a credit) mitigation bank credit(s) issued to Seller' s Mary-A Mitigation Bank pursuant to Seller' s mitigation banking permit from the St. Johns River Water Management District (SJRWMD Permit Number 4-009- 15931 -6) . This reservation is for use of credits in connection with mitigating adverse wetland impacts which may arise as a result of construction or other projects undertaken or to be undertaken by the Buyer (ERP Permit Application Number (40-061 - 105954- I ) . Seller warrants that it will take no action inconsistent with the reservation and future assignment described herein . At such time that the credits are to be issued for a specified project, Seller agrees to make formal assignment of the credits by sending notice to the appropriate environmental regulatory agencies as set forth hereinbelow. Seller warrants that the mitigation credits reserved herein are and will be available for future assignment to Buyer for application to future projects. Seller is committed to transfer to Buyer up to One-tenth 1 / 10) (to the nearest tenth of a credit) mitigation bank credits from its mitigation bank in Brevard County for use in offsetting wetland impacts, if full payment is made within 180 days from receipt of a deposit equal to 10% of the purchase price. The purchase price for One-tenth ( 1 /10) credits is Three thousand five hundred Dollars ($3 , 500 . 00) (hereinafter referred to as the "Purchase Price") and the required deposit is Three hundred fifty Dollars ($ 350 .00 ). If the Buyer' s environmental permits authorize the use of less than One-tenth ( 1 / 10) credits, the purchase price shall be re-calculated according to the following price schedule: The per-credit price established for St. Johns River Water Management District Planning Units 20 and 22 is Thirty-five Thousand and No/ 100 Dollars ($ 35 ,000 . 00). Upon receipt of the deposit, Seller will send a Notice of Credit Reservation to Buyer. Upon receipt of the total Purchase Price for the credits, Seller will send a Request for Withdrawal of Mitigation Credits to SJRWMD requesting SJRWMD to withdraw the specified credits from the Mary-A Mitigation Bank upon its approval of the Buyer' s permit. The deposit is refundable at a pro-rated interval which fully expires 150 days from the date the deposit is received. The pro-rated interval terms are as follows: 50% of the deposit shall be refundable within the first 30 days; 40% of the deposit shall be refundable within 60 days ; 30% of the deposit shall be refundable within 90 days; 20% of the deposit shall be refundable within 120 days; 10% of the deposit shall be refundable within 150 days; and 0% of the deposit shall be refundable thereafter. No refund will be available upon expiration of the 150-day time interval . However, an extension to reserve the credits for an additional 180 days may be acceptable if the credits are still available and an additional deposit of 10% of the purchase price is paid.