A. Applicant[Applicant Name] (hereinafter "Applicant")

[Address and other Contact information]

Parcel No(s): __________________________

[Impact Site Name/Project Name]

B. Impact ProjectWatershed Service Area [? Chambers/Clover ? Nisqually]

Permitting Agencies: __________________________

Permit Number(s), if known: ___________________________

[Add additional agencies and permits as necessary]

Description of impacts: [Provide details of project impact]

Description of debits: [Wetland HGM class and category, impact acreage, also functions disturbed. Please list each class and category separately if more than one wetland unit.]

A. Credits PurchasedIn exchange for the partial payment of credit fees, the Applicant receives no mitigation credits at this time; however, [# credits is equal to # of debits], credits have been withdrawn from the [Advance Credit pool or released credit balance] in the [Service Area Name] service area and are being held for the project described above, for a period not to exceed two years.

PCILF receiving site if known: [______________________]

B. Allocation to the PCILF Program AccountThe credit fees will be deposited into a unique account for the service area of the impact project.

C. The Sponsor Agrees to Provide CreditsBy accepting this down payment, the Sponsor agrees to preserve the option for the Applicant to purchase the remaining 90 percent of the total credits needed for the impact project described above, until the expiration of this Intent to Sell agreement. The price for the remaining 90 percent of credits will be based on the price per credit at that time of purchase. Upon receipt of full payment for the necessary credits, the Sponsor shall assume all obligations and liabilities associated with implementing mitigation to compensate for the project impacts, according to terms of the final Program Instrument for the Pierce County ILF Program as certified on _____________, ______.

A. Signed Letter of Intent Provided to ApplicantThe Sponsor will provide a signed copy of this form to the Applicant within 15 days after receipt of funds from the Applicant. The Applicant is responsible for submitting copies of the Letter of Intent to the appropriate regulatory agencies as proof of down payment for PCILF mitigation credits.

B. Copies Available to the Interagency Review Team (IRT) MembersCopies of this Letter of Intent shall be made available to any member of the IRT upon the IRT member's request.

A. Reporting Requirements UnaffectedThis agreement shall not affect reporting requirements outlined in the program instrument.

B. Effect of AgreementThis Agreement does not in any manner affect statutory authorities and responsibilities of the Sponsor. This Letter of Intent is not intended, nor may it be relied upon, to create any rights in third parties enforceable in litigation with the United States or the State of Washington. This Letter of Intent does not authorize, nor shall it be construed to permit, the establishment of any lien, encumbrance, or other claim with respect to the PCILF Program property, with the sole exception of the right on the part of the U.S. Army Corps of Engineers or the Department of Ecology to require the Sponsor to implement the provisions of the Program Instrument, including recording conservation easements or similarly restrictive covenants required as a condition of the issuance of permits for discharges of dredged and fill material into waters of the United States and Waters of the State associated with construction and operation and maintenance of a PCILF Mitigation Receiving Site.

C. Attorneys' FeesIf any action at law or equity, including any action for declaratory relief, is brought to enforce or interpret the provisions of this Letter of Intent, each party to the litigation shall bear its own attorneys' fees and costs of litigation.

D. Headings and CaptionsAny paragraph heading or caption contained in this Letter of Intent shall be for convenience of reference only and shall not affect the construction or interpretation of any provision of this Letter of Intent.

E. RefundsThe down payment paid at the time of request for this Letter of Intent is nonrefundable.

F. ExpirationThis letter of intent shall be valid for a period not to exceed two years. Should the Applicant request an extension, an additional down payment may be required.

G. ExtensionsIf the Applicant has been unable to secure all environmental permits prior to the expiration of the Letter of Intent to Sell, or if the Applicant is unwilling or unready to pay for the remaining 90 percent of necessary credits to fulfill their mitigation obligation, the Applicant may request an extension to the Letter of Intent. Extensions may be granted once and they will guarantee credits for a period not to exceed two years, as with the original Letter of Intent to Sell. However, granting extensions is discretionary, as described in PCC 18G.20.040 E.5.