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CREDITS TO BE SOLD <br />Credit <br />Sub- <br />Group' <br />Acres or Sq. <br />Ft. <br />Wetland <br />Circ. 39 <br />Type <br />Plant Community Type <br />Cost per Acre or <br />Sq. Foot <br />State Fee <br />6,5% <br />Fee Cost <br />A. <br />0.598 Ac. <br />2 <br />Fresh Meadow <br />$0.501S.F. <br />0.065 <br />$360.99 <br />Totals <br />0.598 Ac. <br />$21,780.00/Ac. <br />$360.99* <br />*Fee based on 2011 BWSR Calculated Wetland Credit Value of $9,287/Ac. in Kanabec County. <br />Fl Check here if additional credit sub- groups are part of this account and are listed on an attachment to this document. <br />'A separate credit sub -group shall be established for each wetland or wetland area that has different wetland characteristics. <br />2 Circular 39 types: 1, 1L, 2, 3, 4, 5, 6, 7, 8, B, U. <br />3 Wetland plant community type: shallow open water, deep marsh, shallow marsh, sedge meadow, fresh meadow, wet to wet - <br />mesic prairie, calcareous fen, open bog or coniferous bog, shrub -carr /alder thicket, hardwood swamp or coniferous swamp, <br />floodplain forest, seasonally flooded basin. See Wetland Plants and Plant Communities of Minnesota and Wisconsin (Eggers <br />and Reed, 1997) as modified by the Board of Water and Soil Resources, United States Army Corps of Engineers. <br />PURCHASE AGREEMENT <br />FOR <br />WETLAND BANKING CREDITS <br />THIS AGREEMENT is made this 19th day of May, 2011 between James C. & Gladys M. Nelson (Seller) and City of <br />Ramsey (Buyer). <br />1. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the wetland banking credits (Credits) listed <br />below from wetland bank account #1382: <br />2. Seller represents and warrants 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) Seller owns the Credits and has the right to sell the Credits to Buyer. <br />3. Buyer will pay Seller a total of $13,024.50 for the Credits, as follows: <br />a) $0.00 as earnest money, to be paid when this Agreement is signed; and <br />b) The balance of 13,024.50 to be paid on the Closing Date listed below. <br />4. [Z ] Buyer, [❑ ] Seller agrees to pay to a withdrawal fee of $360.99 to the State of Minnesota based on 6.5% <br />of the agreed to purchase price. At the Closing Date, [®] Buyer, [n ] Seller will execute a check made out for <br />this amount, payable to the Board of Water and Soil Resources. <br />5. The closing of the purchase and sale shall occur on To Be Determined by Buyer, prior to June 31, 2011 <br />(Closing Date) at a To Be Determined Location by Buyer or via U.S. Mail. The Closing Date and location may be <br />changed by written consent of both parties. Upon payment of the balance of the purchase price, Seller will sign a fully <br />executed Application for Withdrawal of the Credits in the form specified BWSR, provide a copy of the Application for <br />Withdrawal to the Buyer and forward the same to the BWSR along with the check for the withdrawal fee. <br />Page 1 of 2 <br />g: \engineering\2011 projects \11 -21 armstrong- bunker signal- legacy infra. improv \wetlands \ banking Credit <br />pa.docx <br />