A. The Program shall maintain a ledger of all mitigation credits created (i.e., certified by ACE), and of all mitigation credits sold. The Program's accounting shall include mitigation credits created by each mitigation bank site (i.e., the credits certified by ACE for each mitigation bank site), the numbers of mitigation credits available for sale and sold to date, costs associated with mitigation credits and operation of the Program, mitigation sites for which all mitigation credits have been sold, amounts received in payment for mitigation credits, and other amounts or assets received for operation of the Program or fulfillment its goals and objectives. Any party may review the Program's accounting records upon request and after reasonable notice.

B. The Program shall create and sell a "uniform" credit, regardless of the mitigation method (i.e., restoration, creation, enhancement or preservation), the wetland type (i.e., wet prairie grasslands, scrub-shrub, forested, emergent open water, disturbed agricultural), or the type of wetlands being impacted by development for which mitigation credits are required.

C. Subject to the following, and consistent with the Mitigation Manual (Exhibit 2), the Program may sell advance mitigation credits, concurrent mitigation credits or post mitigation credits.

1. Advance mitigation credits are those which are created on mitigation bank sites which are not committed to any particular project impact, and which come into existence (i.e., certification by ACE) and have satisfied the performance standards specified in the Plan before they are committed to a particular project impact. Advance mitigation credits are used to provide mitigation at the time they are purchased in connection with a proposed development activity.

2. When no or insufficient advance mitigation credits are available at the time an application for mitigation cretdits is received by the Program, the Program may sell concurrent mitigation credits to the applicant. The Program will use the funds from the sale of concurrent mitigation credits to perform the mitigation requirements described in the Plan to create a sufficient number of mitigation credits to provide the required mitigation for the particular project.

3. Post mitigation credits (or in-lieu-fee) mitigation credits can be created and sold in situations where the Program has no or insufficient advance mitigation credits available at the time an application for mitigation credits is received and the project impact is deemed to small to justify a special mitigation project for that impact. In these situations, the Program may sell post mitigation credits to the applicant and accumulate sufficient funds from sales of post mitigation credits to create a mitigation bank site where greater wetland functions and values could exist than would be possible from a number of small mitigation sites created for small individual project impacts.