PurchaseAgreementMitigationCredits.pdf

The document is a Mitigation Credit Purchase Agreement between Hammock Lake Mitigation Bank, LLC (Seller) and City of Leesburg-Leesburg International Airport (Buyer). The Seller owns freshwater mitigation credits available for transfer and sale, while the Buyer is in need of these credits for a proposed development project. The Agreement outlines the purchase terms, including the price, reservation, transfer process, default and remedies, assignment restrictions, applicable law, notice requirements, and the entire agreement clause. It specifies the responsibilities of both parties, the conditions for the sale and transfer of credits, and the consequences of default. The document emphasizes the importance of following the agreed-upon terms and conditions and provides a framework for the legal transaction between the Seller and Buyer.