Rainforest Trust Project Agreement

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Rainforest Trust

Project

Agreement (Land Purchase)

Project Code: 2-EC-746-20-3-a

Project Implementer: Fundación de Conservación Jocotoco

Project Title: Expand Tapichalaca Reserve to Prevent Deforestation in Andean Ecuador

Maximum Agreement Amount: Up to $878,489 USD

Project Term: 01 November 2020 – 30 June 2022

Agreement Term: 01 November 2020 – 31 August 2022

This Agreement (together with the attachments hereto which form an integral part of it, the “Agreement”) is entered

into by and between Rainforest Trust, 7200 Lineweaver Road, Suite 100, Warrenton, VA 20187 USA (EIN: 13-

3500609) and Fundación de Conservación Jocotoco (“Project Implementer”), Valladolid N24-414 y Luis Cordero,

Quito, Ecuador in support of the 1,419-acre expansion of Tapichalaca Reserve (“Protected Area”). Rainforest Trust

and the Project Implementer are sometimes referred to individually as a Party and together as the Parties.

The Parties, intending to be legally bound, agree to the terms and conditions set forth in this Agreement as follows:

1. OVERVIEW

The purpose of this Agreement is for Project Implementer, in pursuit of the Parties’ shared conservation objectives,

to implement the Project detailed in the Project Application (Attachment A) with the financial and technical

leadership support of Rainforest Trust as set forth herein. Rainforest Trust’s obligations hereunder are subject to and

conditional on the execution of this Agreement by all Parties, and the performance by the Parties of their obligations

under this Agreement, including the Roles and Responsibilities set out below. Each Party shall assign a Project

Officer (a “Project Officer”) to be the primary point of contact for that Party, and may change that designation at

any time by written notice to the other Party/Parties.

2. RAINFOREST TRUST ROLES AND RESPONSIBILITIES

A. Overview Rainforest Trust shall provide Project technical support to Project Implementer including, but not limited

to, advice on land acquisition, land restrictions (including restrictive covenants or easements), protected area

establishment and management, site visits to review and assess Project activities, Project management and progress,

and GIS support (e.g. forest cover monitoring and boundary demarcation). Rainforest Trust shall also provide the

financial support for the Project outlined in the Budget (Attachment C), with funding contingent upon achievement

of the milestones and satisfaction of the conditions outlined in Attachment A. Additional supporting documentation

and resources for Project Implementer are available on the Rainforest Trust website as updated from time-to-time:

http://www.rainforesttrust.org/project-resources/.

B. Use of Rainforest Trust’s Name and Logo Rainforest Trust grants Project Implementer a revocable, non-exclusive,

royalty-free license to use Rainforest Trust’s name and logo solely for the purposes set forth in this Agreement and

in accordance with the logo and brand-sharing guidelines found on its website. Rainforest Trust retains the right to

approve or to object to any specific use of its name and logo, and Project Implementer shall immediately cease any

uses of the name and/or logo to which Rainforest Trust objects.

C. Rainforest Trust’s Fellows and Guardians Programs Rainforest Trust’s “Conservation Fellows” and

“Conservation Guardians” programs provide opportunities for Project Implementer and its Project staff to build

skills and capacity, and generate further recognition and support for the Project. Project Implementer shall allow

Rainforest Trust to enroll its qualified and approved staff specifically involved with this Project as Conservation

Fellows (project managers/coordinators) and Conservation Guardians (forest guards). For this purpose, Project

Implementer shall provide individual profiles and profile photos of its staff who will be so enrolled and permit those

individuals to be named and profiled on Rainforest Trust’s website. Project Implementer shall also allow Rainforest

Trust staff to communicate directly with Conservation Fellows and Conservation Guardians for Project-related news,

information, photos and videos, and other updates and opportunities.

3. OTHER PARTY/PARTIES’ ROLES AND RESPONSIBILITIES

A. Overview Project Implementer shall acquire the land described in Attachment A, lead the implementation and

execution of the Project, and cooperate fully with Rainforest Trust in these matters in accordance with this

http://www.rainforesttrust.org/project-resources/

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Agreement, including, without limitation, the objectives of the Project and the scope of work set out in Attachment

A. With respect to the land acquisition, Project Implementer shall consult with Rainforest Trust with respect to the

desirability of, or need for, additional legal restrictions on the Protected Area, beyond those specified in this

Agreement, that would further ensure the future protection of the land. Project Implementer shall carry out all Project

activities in accordance with the Project budget set out in Attachment C, as modified at any time in compliance with

this Agreement. Project Implementer shall collaborate, and share all materials and publicity from the Project, with

Rainforest Trust, and share credit for the Project with Rainforest Trust, on and subject to Rainforest Trust’s approval

rights and other terms set out in this Agreement.

B. Funds and Expenditures Project Implementer shall use the funds and other resources provided by Rainforest Trust

solely for the specific purposes and activities identified in Attachments A and C, or otherwise on the written direction

of Rainforest Trust, all in accordance with the terms and conditions set out in this Agreement. Except with the written

consent of Rainforest Trust, Project Implementer shall not co-mingle any funds received from Rainforest Trust for

the Project with its general operating funds or funds dedicated to other projects. Project Implementer shall use its

best efforts to keep all expenditures (other than fixed fees and fixed expenditures stipulated in the Budget) to the

minimum required to achieve the objectives of the Project. In particular, Project Implementer shall ensure that all

local travel included in the Budget will be paid at the economy rate only.

i. Project Implementer shall be liable for all expenditures over and above those set forth in the Budget. For

greater certainty, Rainforest Trust shall not be liable for any expenses that exceed the Budget without

Rainforest Trust’s prior written approval before such expenses are incurred.

ii. Project Implementer shall not make changes to the Project, including, without limitation, regarding

estimation of costs, methodology, target area, type of protected area status sought, timeline or changes to

the Budget (including reallocations from one line-item to another), without the prior written approval of

Rainforest Trust. Any amendments to the Budget shall require execution of an applicable amendment to

the Agreement by the Parties.

iii. Project Implementer shall notify Rainforest Trust immediately in writing of any issue or concern that may

have the potential to significantly alter or impair the objectives of the Project, the implementation of the

Project or the general activities of Project Implementer. If the Project’s principal objectives are delayed in

excess of 30 days beyond a milestone date listed in the Attachments to this Agreement, Project Implementer

shall immediately notify Rainforest Trust, and, Rainforest Trust, acting reasonably, may require the Parties

to adopt new or amended terms and conditions as it sees fit, to be set out in a written amendment to this

Agreement. Such terms and conditions may include, without limitation, new dates and terms for release of

funding to Project Implementer and requirements for additional reports. Rainforest Trust, acting

reasonably, may also stipulate new firm deadlines for already delayed milestones, the failure of which to

meet will be deemed to be a breach of the Agreement. The adoption of amended terms or conditions in this

regard shall not constitute a waiver of, or limit or prescribe, any other rights Rainforest Trust may have

under this Agreement.

iv. Project Implementer shall advise Rainforest Trust of the full name and address of the bank and the number

of the designated bank account opened specifically for the holding of the Project funds, all according to the

format and terms in Bank Account Details (Attachment B). Project Implementer must provide the

identification of a preferred intermediary bank and its SWIFT Code and shall check with its bank to confirm

the identity of the intermediary bank on a bi-annual basis at the time of submission of bi-annual technical

and financial reports. Rainforest Trust will transmit the funds by wire transfer to the bank account as

detailed in Attachment B. Where funds provided by Rainforest Trust are exchanged to local currency,

Project Implementer shall secure the best available rate within channels authorized by applicable laws.

Project Implementer shall immediately advise Rainforest Trust of any changes related to the bank account

affecting the transfer of funds. Project Implementer shall be responsible for all bank fees, if any, incurred

due to the wire transfer. All interest or other income earned on Project funds contributed by Rainforest

Trust shall be used exclusively for the Project and included in the financial and technical reports to

Rainforest Trust.

v. At the expiration or earlier termination of the Agreement, any funds provided by Rainforest Trust that are

unspent shall remain the property of Rainforest Trust and shall be promptly used or transferred as directed

in writing by Rainforest Trust and in compliance with all applicable laws.

vi. Funds provided by Rainforest Trust shall not be expended to attempt to influence any public election, or

expended to influence legislation (as defined under section 501(c)(3) of the U.S. internal revenue code),

without the prior written approval of Rainforest Trust.

vii. Funds provided by Rainforest Trust shall not be expended for payments that are, or give the appearance of,

a conflict of interest. Examples may include, but are not limited to, such transactions with, or payments to,

members of the board of directors, trustees, officers or business partner(s) of Project Implementer, or

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members of their immediate families, for salaries expense reimbursement, or any other type of

compensation (except as specifically required for the Project implementation and expressly stated in the

Budget), or for purchases of land, equipment, goods or services from them, or similar payments to

organizations in which Project Implementer, its directors, trustees, officers, employees or business

partner(s) or member(s) of their immediate families or relative(s) or associate(s) have a financial interest,

whether directly or indirectly.

C. Project Equipment, Goods and Services

i. Project Implementer has represented and warranted to Rainforest Trust, and the Budget reflects, that no

payments for equipment, goods or services, shall be made in amounts that are in excess of fair market value.

Project Implementer shall ensure that all equipment, materials, and pre-approved items over $250 USD in

value donated by or purchased with funds provided by Rainforest Trust are purchased in the name of Project

Implementer and bear in a visible manner, where practical, stickers or patches that include the Rainforest

Trust logo. Rainforest Trust funds shall not be used to purchase any weapons or ammunition (e.g. pepper

spray, firearms).

ii. Project Implementer shall not encumber the ownership, transfer or modify the ownership, or change the

agreed use, of Project equipment, without the prior written consent of Rainforest Trust.

iii. Project Implementer shall pay all expenses (including licenses, insurance and taxes) identified in the

Budget, including those relating to the normal operation and maintenance of all Project equipment donated

or funded by Rainforest Trust and those relating to Project Implementer’s ownership of the land acquired

under the Project.

iv. At the expiration or earlier termination of this Agreement, Project Implementer shall promptly transfer or

disseminate all durable property or equipment funded or donated by Rainforest Trust as directed in writing

by Rainforest Trust.

D. Fundraising and Publicity Reports and Related Materials Rainforest Trust primarily engages with its donors and

the public through press releases, direct mail, emails, website content, digital media, social media, articles, and

through Rainforest Trust’s newsletters (“Publications”). In order to enable Rainforest Trust to maintain the quality

of its Publications and donor engagement, Project Implementer shall provide a regular flow of content and

information from the Project. Project Implementer shall send the following type of information (“Content”) to

Rainforest Trust on a regular basis (at a minimum, monthly) and in the English language (unless Rainforest Trust

agrees otherwise):

i. Stories Project Implementer shall provide stories that include quotes from local officials and staff on the

importance of the Project, its progress, achievements, and problems. In addition, Project Implementer

should send quotes on the Project from leading conservationists of the country in which the Project is

located, especially on the Project’s relevance and achievements.

ii. Publicity reports Project Implementer shall provide regular reports which explain the objectives of the

Project, how it is being organized, how it fits into the local and broader conservation picture, and what

benefits will be derived from it. If practicable, reports should include interesting anecdotes, stories of tough

moments or interesting incidents; description of a typical day can be useful.

iii. Photographs Project Implementer shall send digital photographs (.raw .jpg etc.) at high resolution (min.

Letter / A4 at 300 dpi) submitted on electronic media. Useful photographs show habitat, animals in the

wild, the Project Implementer’s staff in action, local people, and all special events related to the Project

(e.g. workshops, group photos during a declaration or meeting).

iv. Videos If practicable, Project Implementer shall send digital videos at high resolution (HD and above).

Useful videos show habitat, animals in the wild, Project Implementer’s staff in action, local people, and all

special events related to the Project.

v. Supporting Materials Where available, Project Implementer shall send posters, stickers, paintings and other

artwork, or media which show various aspects of the Project.

vi. Reference Materials Project Implementer shall provide Rainforest Trust with copies of all written or

electronic materials that mention, or relate to, the Project.

E. Credit and Public Awareness Project Implementer shall ensure that all publicity and public materials equally

recognize the Parties as collaborators in the Project.

i. Project Implementer agrees to expressly recognize the financial support and technical assistance of

Rainforest Trust as collaborators in the Project in all written, printed, audio and video accounts, and reports

of the Project that are disseminated or published, as well as through organized events.

ii. Unless otherwise agreed by Rainforest Trust, Project Implementer shall display Rainforest Trust’s name,

logo, and website link, and recognize its significant technical and financial support, on its website and any

Project-specific website or webpages of Project Implementer. If a third party or any publication or other

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reporting medium discussing the Project cannot agree to the form of acknowledgement specified in this

paragraph, Project Implementer must consult with Rainforest Trust prior to publication.

iii. All reports and printed materials (e.g. posters, leaflets) that specifically reference and acknowledge donor

support for the Project shall display the Rainforest Trust logo.

iv. Unless Rainforest Trust agrees otherwise, Project Implementer shall display the logos and name of

Rainforest Trust together with the Project Implementer on materials used in and acquired for the Project,

including Project vehicles, signage, items of clothing such as t-shirts and caps, etc., and in the Project

offices and other spaces regularly used to carry out the Project. Land purchased for the Project shall be

signposted on a public road or at the entrance by Project Implementer and the signage, approved by

Rainforest Trust, will display the logo of Rainforest Trust together with the Project Implementer’s logo.

v. Project Implementer shall advise Rainforest Trust of any request it receives with respect to commercial

films on the Project or Protected Area and any proposal for a commercial film, whether produced by Project

Implementer or a third party. This shall be discussed in advance with Rainforest Trust prior to any

agreement to create the film. Project Implementer shall send drafts of proposed film credits in advance to

Rainforest Trust for its approval.

vi. In instances where either Party/Parties secures additional funding or donors for the Project, the Parties shall

advise each other as to the relative proportion of credit and recognition(s) to assign each party associated

with the Project.

vii. The Parties agree that their mutual objective, which can be stated in all publicity and public materials, is to

ensure that the purchased land will become a Protected Area that will be conserved, protected and managed

effectively in perpetuity. Parties acknowledge that, as such, publicity about the Project and the Protected

Area will extend well beyond the termination of this Agreement. Project Implementer shall keep accurate

books and records, financial and technical, relating to this Agreement and to the Project, regardless of

funding source, during the term of this Agreement and at its principal place of business for at least five

years following the expiration of this Agreement. As and from the expiration or earlier termination of this

Agreement, Project Implementer shall provide such reports and information as Rainforest Trust may

reasonably request on the status, management plan, financial position and results of management of the

Protected Area at least annually or more frequently as requested by Rainforest Trust. Project Implementer

agrees to consider all input provided by Rainforest Trust in response to such reports and information in

order to fulfill the objectives of the Parties when they entered into this Agreement. This provision shall

survive the expiration or earlier termination of this Agreement.

F. Reports and Additional Information Project Implementer shall provide Rainforest Trust with bi-annual and other

reports, financial information, and other Project materials as set forth herein, with currencies to be reported in US

Dollars unless Rainforest Trust otherwise agrees. Project Implementer shall download and use report templates

where available for this purpose from the Rainforest Trust website listed above. In particular, Project Implementer

shall prepare and submit documents and reports as follows:

i. Bi-annual Financial Reports Reports shall list the expenditures of each preceding period for the Project,

under each of the different Budget lines, and contain a summary sheet in the form as set out in Project

Financial Reports (Attachment D). Reports shall also separately indicate all sources of funds in the period

for the Project other than funds provided by Rainforest Trust, including, without limitation, interest or other

income earned on funds provided by Rainforest Trust and funds provided from any other funding sources.

Project Implementer shall forward these reports in templates provided by Rainforest Trust (MS Excel

format) no later than thirty (30) days after the close of each reporting period. Expenditures shall be set out

against the same headings as the Project funding set forth in the Budget. Unless Rainforest Trust otherwise

agrees, Project Implementer shall compile the report and information using the template provided for this

purpose on the Rainforest Trust website.

ii. Bi-annual Technical Reports Reports shall describe in detail the progress of the Project over the preceding

reporting period. These reports shall be concise and factual, and shall be sent in templates provided by

Rainforest Trust (MS Word format) to Rainforest Trust no later than thirty (30) days after the close of the

reporting period. Unless Rainforest Trust otherwise agrees, Project Implementer shall compile the report

and information using the template provided for this purpose on the Rainforest Trust website.

iii. Final Financial Report This report shall cover the Project Term and all funds received by Project

Implementer for the Project. It shall list the single expenditures under each of the Budget lines, contain a

summary sheet in the form as set out in Attachment D, and shall be forwarded as electronic copy in MS

Excel format to Rainforest Trust no later than the earlier of (i) sixty (60) days after the end of the Project

Term or (ii) sixty (60) days following the earlier termination of this Agreement. If Project Implementer

submits an application for continuation of funding, the Final Financial Report shall be submitted to

Rainforest Trust no later than the above-mentioned time. Expenditures shall be set out against the same

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headings as in the Budget. The Final Financial Report shall also list all funds provided by Rainforest Trust,

including interest on or income generated from funds provided by Rainforest Trust, that remain unspent.

The Final Financial Report shall also set out an accurate and complete list of all funds provided for the

Project, regardless of source. In the event that Project Implementer fails to provide the Final Financial

Report within the stipulated time period, if Rainforest Trust, acting reasonably, believes that there are

unspent funds, Rainforest Trust shall be entitled to provide a written direction to Project Implementer

requiring the return of such funds within thirty (30) days. Unless Rainforest Trust otherwise agrees, Project

Implementer shall compile the report and information using the template provided by Rainforest Trust (MS

Excel format) on the Rainforest Trust website.

iv. Final Technical Report This report shall cover the Project Term and shall be sent as electronic copy in MS

Word format to Rainforest Trust no later than the earlier of (i) sixty (60) days after the end of the Project

Term or (ii) sixty (60) days following the earlier termination of this Agreement. If Project Implementer

submits an application for continuation of funding, the Final Technical Report shall be submitted to

Rainforest Trust no later than the above-mentioned times. The Final Technical Report shall be presented

using the template provided by Rainforest Trust (MS Word format) on the Rainforest Trust website.

v. Monthly Updates Due to this agreement requiring bi-annual reporting instead of the Rainforest Trust

standard quarterly reporting schedule, the Project Implementer agrees to provide project updates to

Rainforest Trust on a monthly basis, by phone or email.

vi. Reports shall be written in English, unless Rainforest Trust provides its prior written consent to use of

another language.

vii. Immediately after the acquisition of the land identified in Attachment A, Project Implementer shall provide

Rainforest Trust with copies of the documents showing the purchase of the property, including deed, title,

legal descriptions, shapefiles (KMZ (Google Earth) and/or shapefile (ArcGIS) format), and, if available,

applicable covenants, deed restrictions, survey maps, and the reporting letter of the legal advisor who acted

for Project Implementer in this regard.

viii. Project Implementer shall complete a Land Purchase Report in the form provided on the Rainforest Trust

website and return it to Rainforest Trust no later than fifteen (15) days after the property acquisition is

completed.

ix. All reports and documents shall be subject to review and approval by Rainforest Trust, and Project

Implementer shall make all reasonable modifications and corrections requested by Rainforest Trust.

x. Project Implementer shall send the technical report section of the Final Project Report, amended if

necessary, for reasons of conservation security (confidentiality), to the relevant national authorities of the

country in which the Project occurs, unless Rainforest Trust agrees otherwise.

xi. Project Implementer shall also provide any additional information, documents or clarifications relating to

the reports, the Project and the Agreement that are requested by Rainforest Trust for the purpose of

complying with its reporting requirements under applicable US or other laws.

xii. Throughout the term of this Agreement and in respect of the financial year ended immediately prior to the

expiration or earlier termination of this Agreement, Project Implementer agrees to provide Rainforest Trust

with copies of its annual financial statements, prepared in accordance with generally accepted accounting

principles in Project Implementer’s country of operation and audited by an independent auditor in

compliance with local laws, and copies of its quarterly or semi-annual financial statements, as applicable,

which may be unaudited. If Project Implementer provides its annual, quarterly or semi-annual financial

statements to its shareholders or to any governmental authority, it shall provide Rainforest Trust with copies

contemporaneously.

G. Certain Covenants of Project Implementer The Parties acknowledge that the advance of funds by Rainforest Trust

to Project Implementer throughout the term of this Agreement is conditional on Rainforest Trust’s continuing review

of, and satisfaction with, the financial condition and operations of Project Implementer. The Parties also

acknowledge that their mutual objective is that the land acquired under the terms of this Agreement will be become

a Protected Area owned solely by Project Implementer and managed by it in perpetuity.

i. Project Implementer represents, warrants, covenants and agrees that:

a. It will promptly notify Rainforest Trust in writing of any pending or threatened governmental or

other legal investigation or material litigation, or any pending or threatened event, change, or

development which may have a material adverse effect on its financial condition or operations;

b. It will promptly notify Rainforest Trust of any intention on its part to dissolve, wind-up, or

terminate all or a substantial part of its operations;

c. It will promptly notify Rainforest Trust in writing of any change in its senior management,

including, without limitation, its Chief Executive Officer or its Chief Financial Officer, (or

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equivalent) or any situation in which more than one-third of its Board of Directors or Trustees has

resigned or been removed prior to the completion of their respective terms; and

d. It will not, without prior consultation with Rainforest Trust, permit or allow any mortgage, lien,

charge, hypothec or other encumbrance to be placed on the land acquired by it under this

Agreement or on its general assets.

ii. Project Implementer agrees that it shall not modify the legal or beneficial ownership of, or transfer, sell,

alienate or encumber the land acquired under this Agreement, in whole or in part, without the prior written

consent of Rainforest Trust. This provision shall survive the expiration or earlier termination of this

Agreement.

iii. Project Implementer represents, warrants, covenants and agrees that it will promptly notify Rainforest Trust

if, at any time during this Agreement, or following its expiration or earlier termination:

a. Project Implementer does, or omits to do, or is alleged to have done or omitted to do, anything

that may entitle a governmental or other relevant authority to refuse to grant, prevent, or revoke,

as applicable, the designation of the land as a Protected Area;

b. Any governmental or regulatory authority commences any investigation which, if determined

adversely, or initiates or adopts any legislation, regulation or policy that, might result in the failure

to obtain, or the revocation of, as applicable, the land’s Protected Area designation;

c. Any governmental or regulatory authority commences any expropriation, de-commissioning or

similar proceedings affecting the land, in whole or part, or the Protected Area, in whole or in part;

d. Any governmental or regulatory authority initiates or passes legislation or regulation which may

allow a government or other authority to reduce the level of protection originally achieved when

the land receives its Protected Area status under this Project;

e. Any governmental or regulatory authority or any third party takes any steps or engages in any

activities that are, or that Rainforest Trust, acting reasonably, deems to be, inconsistent with the

protected status granted to (or sought for) the lands under the terms of this Agreement, including,

without limitation, any commercial or other activities on the land that would conflict with its

protected status or any activities in reasonable proximity to the land (such as construction of a

public road) that might weaken the efficacy or ability to maintain the conservation protection for

the land; or

f. Project Implementer becomes aware that any creditor, receiver or trustee in bankruptcy of Project

Implementer or any third party intends to seek the dissolution or winding-up of Project

Implementer or to assume ownership, control or management of the land forming the Protected

Area, or to transfer, sell, or to exert any other rights in connection with the land, the Protected

Area or its management.

Upon such notification, Project Implementer shall immediately consult with Rainforest Trust regarding the

appropriate course of action to be followed in order to preserve the Parties’ mutual objectives in this Agreement,

including, without limitation, Rainforest Trust’s wishes with respect, if any, to participate or be given standing at,

or represented at or in, any legal or administrative proceedings affecting the Protected Area, its management and/or

the sale or transfer of the land forming the Protected Area. This provision shall survive the expiration or earlier

termination of this Agreement.

H. Financial Records

i. Project Implementer agrees to keep separate, true and correct financial records in accordance with generally

accepted accounting principles in its jurisdiction of operation and in accordance with all applicable laws

and customary accounting procedures and processes so that payments received for, and expenditures made

in connection with, the Project and this Agreement can be easily identified. Project Implementer shall

retain, and if requested, submit for review by Rainforest Trust original receipts for all expenditures in excess

of $50 USD (or its equivalent at the moment of expenditure).

ii. Project Implementer shall supply all original invoices and receipts for expenditures to Rainforest Trust, if

requested.

iii. Project Implementer shall provide to Rainforest Trust copies of the bank transaction documents detailing

the exchange rates and bank charges that applied to each transfer made under this Agreement, if requested.

iv. Project Implementer shall keep all of the records, documents, invoices and receipts referred to above, and

the separate records relating to the Project and this Agreement, for at least five years following the

expiration or earlier termination of this Agreement.

I. Audits

i. Upon Rainforest Trust’s request, and at any time for five years after the expiration or earlier termination of

this Agreement, Project Implementer shall make available for inspection, review and audit by Rainforest

Trust, its personnel, representatives, assignees and/or its designated outside auditor, the books of account

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and other financial records relating to the Project and to this Agreement, upon three (3) business days’

notice. Project Implementer shall also provide access to, and request the cooperation of, any auditor who

has previously audited these records or books, at the expense of Project Implementer.

ii. Rainforest Trust may request Project Implementer to appoint an independent auditor acceptable to

Rainforest Trust and Project Implementer, or Rainforest Trust may appoint an independent auditor of its

sole choosing, in each case at the expense of Project Implementer, to inspect, review and audit the books

of account and other financial records relevant to the Project and to this Agreement. Upon such a request

or appointment, Project Implementer agrees to cooperate in all respects with Rainforest Trust, including to

allow access to all relevant records, and to allow copies and extracts of relevant documents and records to

be made at the expense of Project Implementer.

iii. Project Implementer agrees to pay as directed by Rainforest Trust, and in accordance with all applicable

laws, and at Project Implementer’s sole expense, the amount of any expenditure(s) disallowed by auditors

through an audit exception or other appropriate means, based upon a finding that such expenditures failed

to comply with a provision of this Agreement.

J. Other Financial Resources Project Implementer acknowledges that, unless otherwise previously agreed with

Rainforest Trust, it has provided Rainforest Trust with a copy of its most recent annual financial statements

(including statement of financial activities and balance sheet) prepared in accordance with generally accepted

accounting principles and audited by an independent auditor, together with copies of any subsequent quarterly or

semi- annual financial statements that are unaudited. Project Implementer has also provided Rainforest Trust with

an accurate and complete list, compiled to the date of this Agreement, showing all other funding sources for the

Project (including, without limitation, staff time dedicated to the Project) confirmed prior to the execution of this

Agreement or for which requests are pending, together with all details of such pending requests required by

Rainforest Trust.

i. Additional Project Resources In the event that, after the date of this Agreement, Project Implementer wishes

to solicit additional funds for the Project from parties other than Rainforest Trust or pending donors

previously disclosed, it must, prior to making any such solicitation, notify Rainforest Trust in writing to

this effect, including the names of donors to be solicited, the resources requested and recognitions offered,

as well as if Project Implementer is proposing that Rainforest Trust funds will be used as a match for other

grants or donations. The Parties acknowledge that Rainforest Trust reserves the right to approve such

solicitations, which will not be unreasonably withheld. If Project Implementer, without having made any

solicitation, is contacted after the date of this Agreement by additional third parties who are willing and

able to support any portion of the Project, Project Implementer agrees to immediately notify Rainforest

Trust of any resources (including funds) that are or may be made available from such sources, specifying

the name of the donor, the amount of funds or resources (including equipment or in-kind contributions) it

has received, receives, will receive or has been offered, including if a match of any sort has been proposed,

and any recognitions requested by such donor with respect to the Project. Rainforest Trust reserves the right

to verify this information with such named actual or prospective donors, and reserves the right to approve

such additional contributions, which will not be unreasonably withheld. Project Implementer acknowledges

that if funds or resources are received from donors other than Rainforest Trust for specific items in the

Budget, Rainforest Trust shall be entitled to make it a condition of its consent that it will reduce its

contribution to Project Implementer commensurately.

ii. Termination Rainforest Trust reserves the right to treat any failure on Project Implementer’s part to provide

notifications and to make full and timely disclosure with respect to the matters described in this Section 3

as a breach of this Agreement.

4. TERM

The term of this Agreement shall end on 31 August 2022 unless terminated on an earlier date in accordance with

Section 5 of this Agreement (the “Termination Date”) or extended with the written agreement of the Parties. The

Project shall terminate at the end of the Project Term, unless the Parties agree in writing to an extension of the term

of the Project and corresponding amendments to this Agreement.

5. EARLY TERMINATION AND RIGHTS ON TERMINATION

A. Termination for Breach The Parties acknowledge and agree that any failure on the part of a Party to comply with

a provision, term or condition of this Agreement shall be deemed to be a breach of this Agreement. If Rainforest

Trust or Project Implementer determines that the other has committed a breach of this Agreement, it may serve on

the other Party a written notice outlining the breach. If the Party receiving such notice fails, neglects or refuses to

remedy the breach within thirty (30) days of receipt of such notice, or if the breach cannot be remedied, the Party

who served the notice may provide written notice to the other Party/Parties immediately terminating the Agreement

without prejudice to any rights which may have accrued to it. Such notice shall become effective on the date of

receipt.

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B. Termination for Convenience Rainforest Trust or Project Implementer may terminate this Agreement by giving

three (3) months prior written notice to the other Party/Parties, such notice to become effective on receipt. The

Parties agree to consult with each other as to the effect of termination on the Project and to assist each other in the

smooth termination or transition of the Project to other funding sources or partners.

C. Other Termination Rights If any other major funding source to Project Implementer or the Project suspends or

terminates its commitment of funding, Project Implementer must immediately notify Rainforest Trust in writing and

the Parties shall discuss the implications for the Project. If, in the opinion of Rainforest Trust, the viability of the

Project is jeopardized, Rainforest Trust may, in addition to its other termination rights, terminate this Agreement

immediately by giving written notice to the other Party. Such notice shall become effective upon the date of receipt,

or, at the discretion of Rainforest Trust, on the date of suspension/termination specified by the other funding

source(s).

D. Effects of Termination After the expiration or earlier termination of this Agreement, Rainforest Trust shall not be

obligated, without its prior written consent, to pay for any expenses incurred by Project Implementer. After

expiration or earlier termination, Project Implementer shall stop work and take all reasonable steps to preserve and

protect all work produced to date, any unspent funds provided by Rainforest Trust and Project equipment funded or

provided by Rainforest Trust and comply with instructions from Rainforest Trust as to the disposition thereof.

6. INTELLECTUAL PROPERTY

A. Copyright and Publications For the purposes of this paragraph, the term "Works" refers to all works of authorship

and inventions created by Project Implementer pursuant to this Agreement, including, but not limited to, films,

photographs, graphic works, maps, videos, books, articles, digital media, publications, and audio recordings (and all

materials embodying such works of authorship and inventions), whether produced during or after the expiration or

earlier termination of this Agreement. Project Implementer shall share all rights, title and interest in the Works with

Rainforest Trust. Rainforest Trust shall have a perpetual, irrevocable, sub-licensable, non-exclusive, royalty free

license to use the Works, including their modification and/or reproduction, in whole or in part. Project Implementer

shall secure the same license for Rainforest Trust with respect to any Content that it provides to Rainforest Trust.

B. Access to Data Project Implementer shall provide Rainforest Trust unlimited access to data and information from

the Project and shall consult with Rainforest Trust and agree in advance with it to the use of data in the production

of scientific publications. Rainforest Trust reserves the right to circulate Project reports or extracts, and to publish

general texts from them with the purpose of promoting conservation and welfare.

C. Non-Infringement Project Implementer shall not provide any Content for Rainforest Trust’s use in its Publications

or other publications that infringes upon the intellectual property rights of a third party. Project Implementer shall

be responsible for securing all rights for Rainforest Trust to use the Content prior to submitting it to Rainforest

Trust.

D. Right of Publicity Project Implementers represents and warrants that it has, or shall secure, any and all necessary

approvals and/or releases to use the photographic likeness or video/sound recording of any person who is identifiable

in the Content or Works necessary for Rainforest Trust to use the Content or Works in its Publications.

7. CONFIDENTIALITY

Throughout the term of this Agreement, each Party may grant access to its materials, data, strategies, and other

information relating to it and its programs, or systems, which are intended for internal use only (“Confidential

Information”). Any such information acquired by a receiving Party shall not be used, published, or divulged by the

receiving Party to any person, organization, governmental authority or corporation or in any manner or connection,

except as required by law, without first having obtained the written permission of the disclosing Party in its sole

discretion. Each Party shall clearly mark any Confidential Information as such it its submissions or deliverables to

the other Party.

8. COMPLIANCE WITH LAWS & ANTI-CORRUPTION POLICY

A. Project Implementer understands that Rainforest Trust must comply with all existing legislation in its operations

outside of the United States, including but not limited to compliance with U.S. laws and regulations that prohibit

making corrupt payments to any government official, as well as U.S. anti-terrorism legislation that prohibits having

transactions with and providing material support or resources to individuals or groups that engage in or support acts

of terror. Project Implementer hereby certifies and represents that it has provided Rainforest Trust with all of the

information requested by Rainforest Trust in order to allow Rainforest Trust to conduct due diligence in this regard

and that such information is true, complete and correct. Project Implementer further certifies that each and every

request for funds and each report provided by it under this Agreement will be true and correct and that funds provided

by Rainforest Trust will be used only for expenditures to be made in accordance with the terms, and for the purposes

set forth in, this Agreement, and are not to be, and will not be, used in any manner inconsistent with applicable laws,

including U.S. Executive Orders and laws that prohibit transactions with, and the provision of resources and support,

directly or indirectly to, individuals and organizations associated with terrorism or acts of terror.

B. Project Implementer represents, warrants, covenants and agrees that:

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i. It has received all necessary internal (corporate) approvals to enter into this Agreement and can lawfully

work in the country or countries in which the Project and the activities under this Agreement will be

performed;

ii. It has obtained, or will obtain, at its own expense (except to the extent otherwise explicitly contemplated

in the Budget or this Agreement) any permits or licenses required for its work on the Project under this

Agreement;

iii. It is currently complying, and will continue to comply throughout the term of this Agreement, with all

applicable laws, regulations and governmental or regulatory policies in the country or countries in which it

works, including those relating to the environment, labor, human rights, and indigenous persons, and all

applicable U.S. and other anti-bribery or anti-corruption laws and regulations (collectively, “Applicable

Laws”). Project Implementer will not take any actions which, and will not omit to take actions, the omission

of which, may cause Rainforest Trust to be in violation of any Applicable Laws;

iv. It and its directors, officers, trustees, employees and agents have not and will not offer, pay, promise or

authorize the payment, directly or indirectly through any other person or entity, of any monies or anything

of value to any government employee or official or any political party or candidate for political office, for

the purpose of inducing or rewarding any favorable action or influencing any act or decision of such person

or of the government or otherwise in contravention of Applicable Laws. Project Implementer shall, on the

request of Rainforest Trust, provide evidence satisfactory to Rainforest Trust demonstrating such

compliance. Project Implementer is implementing, and over the course of this Agreement, shall implement

reasonable monitoring and oversight to ensure the continuing truth of all of the representations and

certifications in this paragraph and, upon Rainforest Trust’s request, shall provide documentation of the

monitoring and oversight of these efforts.

v. In all phases of the Project, it will, and it will cause its employees, contractors and staff, to comply with

relevant local customs and, in particular, to behave humanely toward animals they encounter in their

fieldwork. Upon the request of Rainforest Trust, Project Implementer shall provide evidence in this regard

satisfactory to Rainforest Trust. Project Implementer acknowledges and agrees that any collecting of

biological specimens shall be subject to Rainforest Trust’s protocol “Field Sampling for Conservation Code

of Ethics” accessible on its website and that Project Implementer and its employees and contractors have

read, or will read this protocol, and comply with it.

vi. Notwithstanding any term in this Agreement suggesting otherwise, Rainforest Trust shall be entitled to

terminate this Agreement immediately if Project Implementer fails to comply with the certifications,

representations, warranties and covenants contained in this Section 8, and Rainforest Trust explicitly

declines any responsibility or liability arising from failure, neglect, or refusal of Project Implementer to

comply with same.

C. Rainforest Trust represents, warrants, covenants and agrees that:

i. It has all necessary corporate authority to enter into this Agreement and to perform its obligations

hereunder; and

ii. It shall comply with Applicable Laws in performing its obligations under this Agreement.

9. LIMITATION OF LIABILITY/INSURANCE

i. The Parties understand that the work to be performed under this Agreement shall be performed entirely at

Project Implementer’s risk. Project Implementer agrees to indemnify, defend and hold Rainforest Trust and

its directors, officers, employees, independent contractors and agents, harmless from any claim, cause of

action, liability, damages, injury, suit, judgment and expenses (including attorney’s fees, court costs and

out of pocket expenses) suffered or incurred or arising in any way out of Project Implementer’s performance

of this Agreement. Rainforest Trust shall not, in any circumstances or for any reason, be held responsible

or liable for losses, damages, claims, personal injury, loss or damage of items, or any other liability or

eventuality arising from the Project, or sustained, caused or contributed to by the Project Implementer, its

personnel, contractors or agents or Project personnel or third parties employed or voluntarily participating

in the course of implementing the Project.

ii. Project Implementer shall carry appropriate workers’ compensation if required by local law, general hazard

and liability insurance coverage written on an occurrence basis during the term of this Agreement. The

general liability coverage shall include, but not be limited to, insurance against any loss or damage that

may be sustained by Project Implementer, Project personnel or Project property in the course of

implementing the Project.

10. MISCELLANEOUS PROVISIONS

A. Governing Law; Arbitration This Agreement is governed by and in accordance with the laws of the

Commonwealth of Virginia, USA without regard to its choice of law provisions. The Parties hereby agree that, in

the event of any dispute, controversy or claim between the Parties relating to this Agreement, the Parties shall first

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use reasonable efforts to resolve the dispute through informal discussions. In the event of any claim, dispute or

controversy that cannot be resolved informally within sixty (60) days, the Parties agree that enforcement of the

Agreement, and resolution of any dispute, controversy or claim arising out of or related to the subject matter of the

Agreement, shall be resolved by binding arbitration conducted by a private arbitration service under the laws of the

Commonwealth of Virginia. The arbitration shall take place in the English language. Project Implementer agrees

that the arbitration award may be confirmed in a court of competent jurisdiction, that Project Implementer will not

appeal the award or otherwise contest its confirmation, and that the decision of the arbitrators shall be final and

binding upon the Parties and their respective successors and assigns.

B. Entire Agreement This Agreement, including Attachments A, B, C, and D which form an integral part of the

Agreement, represents the entire Agreement between Rainforest Trust and Project Implementer with respect to its

subject matter, and supersedes any prior oral or written understandings or communications between the Parties. Any

modifications, supplements or amendments to this Agreement must be made with the written agreement of all

Parties, and signed by their respective authorized representatives.

C. Relationship of the Parties For purposes of this Agreement, Project Implementer is deemed to be an independent

contractor, and nothing in this Agreement shall be construed to create an employee-employer, partnership or agency

relationship with Rainforest Trust or to render any Party liable for the debts or obligations incurred by another Party.

Nothing in this Agreement grants authority to any Party to create obligations, express or implied, or to make

representations on behalf of, any other Party.

D. Non-Assignment and Subgrants Project Implementer may not transfer, assign or delegate its rights and obligations

under this Agreement in whole or in part without Rainforest Trust’s prior written consent. For greater certainty,

Project Implementer may not make any subgrant or subcontract without the prior written consent of Rainforest Trust,

except to the extent that such subgrant or subcontract is expressly specified in this Agreement.

E. Taxes Rainforest Trust shall not, in any circumstances or for any reason, be held responsible or liable for any taxes

arising from the Project, and sustained or caused by Project Implementer, Project personnel or third parties employed

or voluntarily participating in the course of implementing the Project. All liability and responsibility for all taxes

arising out of payments made to Project Implementer pursuant to this Agreement shall remain with Project

Implementer.

F. Severability If any provision of this Agreement is held invalid, the other provisions shall not be affected thereby.

G. Force Majeure Neither Rainforest Trust, Project Implementer, shall be liable if Project Implementer is unable to

continue, complete or otherwise perform duties under this Agreement as a result of a force majeure event such as

war, riot, civil unrest, rebellion, acts of God or natural disaster.

H. Survival In addition to provisions which expressly survive the expiration or earlier termination of this Agreement,

the provisions related to confidentiality, intellectual property, reporting, certifications, warranties, indemnification

and limitation of liability shall survive the termination of this Agreement.

I. Waiver A Party may specifically waive any breach of this Agreement by another Party, but no such waiver shall be

deemed effective unless in writing, signed by the waiving Party, and specifically designating the breach waived. No

waiver shall constitute a continuing waiver of similar or other breaches. One Party’s consent or approval of any act

by another Party shall not be deemed to render unnecessary the consent to or approval of any subsequent act by the

other Party.

J. Counterparts This Agreement and any amendment or addendum may be executed electronically (i.e. pdf format),

by facsimile and in one or more counterparts, each of which shall constitute an original document

In Witness whereof, the Parties hereto have caused this Agreement to be executed from the date signed:

SIGNATURES

For Fundación de Conservación Jocotoco For Rainforest Trust

Name: Martin Schaefer Name: James Deutsch

Title: Executive Director Title: Chief Executive Officer

Date: 18.11.2020 Date:

Attachment A: Project Application

Attachment B: Bank Account Details

Attachment C: Project Budget

Attachment D: Project Financial Reports

19.11.2020

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ATTACHMENT A – PROJECT APPLICATION

The Project Implementer will conduct the following Activities in support of the Project:

Expand Tapichalaca Reserve to Prevent Deforestation in Andean Ecuador

APPLICATION DETAILS

How did you hear about Rainforest Trust? Long-term partner

Will land be purchased (YES or

NO)?

Yes

Will land be leased (YES or NO)?

No

Will a new government protected

area (PA) be created (YES or NO)?

No

Will a government PA be

expanded (YES or NO)?

No

Proposed PA Size (acres):

1,419 acres (574.24 hectares)

If an expansion, how many acres are already protected?

8,790

Project Start Date: 11/01/2020 Project End Date: 06/31/2022

Country: Ecuador Region/Province: Zamora Chinchipe Nearest Town: Palanda

Name of Proposed PA(s)

Tapichalaca Reserve

Who owns the land currently?

1. Mosquera, 51.22 acres; 2. Genaro Guanuche, 93.70 acres; 3. Manuel

Guanuche, 82.43 acres; 4. Manuel Guanuche, 70.80 acres; 5. Morocho Jarro,

213.57 acres; 6. Segundo Jímenez, 90.24 acres; 7. Abel Castillo, 105.34 acres; 8. Manuel Castillo, 66.30 acres; 9. José Jaramillo, 115.20 acres; 10.

Nelsón Sarmiento, 57.18 acres; 11. Hugo Carrión, 110.21 acres; 12. Hector

Troya, 130.77 acres; 13. Augusto Ruiz 1, 136.18 acres; 14. Augusto Ruiz 2,

64.42 acres; 15. Granda, 31.31 acres

For purchases, do the land owners have written titles?

Yes

Each potential project is subject to peer review to verify the importance and feasibility of the project. All application materials are considered

confidential, but we will need to share your proposal with a small group of experts. May we have your permission to send your proposal to peer

reviewers? Are there any elements of your proposal that we cannot share with peer reviewers (e.g. location of sensitive species, maps)? Yes

Project Summary (500 words maximum): Tapichalaca Reserve is situated in the Eastern Andes, the most biodiverse region on the planet. In south-

eastern Ecuador, Tapichalaca Reserve harbors exceptional biodiversity with at least 55 plant species endemic to the slopes of Cerro Tapichalaca. It also

protects a very large number of threatened plant and animal species ranging from large mammals such as the endangered Mountain Tapirs to the iconic endangered Jocotoco Antpitta and to critically endangered plants species such as Bomarea longipes and Puya exigua.

Tapichalaca fulfils a very important and strategic role as it connects the only two large national parks in southern Ecuador, Podocarpus and Yacuri. We

want to expand Tapichalaca Reserve by acquiring a series of properties in the direct vicinity of the reserve to expand it. These acquisitions would unite

the two isolated parts of the reserve and protect key habitat of a large range of threatened species. Owing to the central location of several properties, the

acquisitions are absolutely essential.

HABITAT & SPECIES

What is the ecosystem type? Forest

What elevations are covered by the proposed PA? ca. 1800-3400 m elevation

How does the area rank in terms of overall number of species and number of endemic species (species found nowhere else?

The eastern slopes of the Andes in Ecuador harbour the most diverse ecosystems on earth. This diversity is caused because the Andes comprise a very

large variety of distinct habitats on a small spatial scale. At the same time, the ruggedness of this mountain range presents dispersal barriers to many taxa,

thereby increasing speciation rates. For example, steep valleys or ridges function as dispersal barriers even to mobile taxa such as endemic and threatened parrots protected by Fundación Jocotoco (Klauke et al. 2016).

Tapichalaca protects a very large number of unique species. Up to 55 species of plants have not yet found anywhere else except for Tapichalaca. The

endemic frog Hylocirtus tapichalaca is only found in the reserve and in two neighboring canyons.

Please approximate how much of the proposed PA is old growth (primary) forest or undisturbed habitat? 50% old growth

Please list IUCN Critically Endangered (CR), Endangered (EN), and Vulnerable (VU) species that will be protected. Please check the Red List

(www.iucnredlist.org) for the latest conservation status (e.g. CR) and state the status here. Please include estimates (even if very approximate) of

the population sizes of the most important species inside the proposed PA. The proposal will NOT be considered if IUCN Critically Endangered

(CR) or Endangered (EN) species are not confirmed to be present in the proposed PA.

Aiphanes verrucosa (EN), Bomarea longipes (CR), Centropogon erythraeus (EN), Centropogon heteropilis (EN), Centropogon hirtiflorus (EN),

Centropogon steyermarkii (EN), Centropogon ursinus (EN), Costus zamoranus (EN), Fuchsia scherffiana (EN), Grallaria ridgelyi (EN), Joosia aequatoria

(EN), Meriania maguirei (EN), Mezobromelia fulgens (EN), Miconia dodsonii (EN), Passiflora linda (EN), Passiflora zamorana (EN), Piper achupallasense (EN), Piper valladolidense (EN), Pristimantis atratus (EN), Spizaetus isidori (EN), Tapirus pinchaque (EN), Tephrophilus wetmorei (VU),

Tremarctos ornatus (VU)

Please list any other species that are considered threatened but have not yet been officially evaluated by the IUCN Red List. Include a proposed

IUCN Red List status and justification (including the qualifying criteria) for each species believed to be Endangered or Critically Endangered.

The Tapichalaca Arboreal Frog (Hyloscirtus tapichalaca), which was discovered in 2001. Nymphargus cariticommatus is listed as DD but considered EN

in Ecuador. Not confirmed: Gualecenita Stubfoot Toad (Atelopus nepiozomus, EN), Coppery-chestnut Jacamar (Galbula pastazae, VU)

Describe the most important threats to the area. Detail the need and urgency for the new PA:

An estimated 25% of the habitats of the tropical Andes remains intact with threat levels being particularly severe in the northern Andes from Venezuela

to Ecuador (CEPF 2015). Although several large national parks exist in the Andes of Ecuador, these are poorly protected with mining, logging,

agriculture, and illegal settlements all occurring within those national parks (Peyton 1999). Human land use activities affect on average 12% of the area of

all Ecuadorian National Parks (Naughton-Treves et al. 2006). The annual deforestation rate within one part of Podocarpus National Park and in its direct vicinity in the north of it is at 0.6-0.9% (Goerner et al. 2007). These figures along with the small ranges of many threatened species show that the

governmental system of protected areas alone is not sufficient to prevent the loss of biodiversity in Ecuador.

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Outside the National Park the deforestation rate is much higher at 2.86%. The deforestation in combination with a 17% increase in the human population

in the Zamora-Chinchipe province from 1990-2010 (Pohle 2008) testify to the urgency of expanding Tapichalaca Reserve. The increase in human

population was primarily driven by emigrants into the province which testifies to the strong advance of the agricultural frontier in this part of Ecuador (Pohle 2008). A newly built road southeast of Tapichalaca Reserve and the improved pavement of the highway that transverses Tapichalaca Reserve will

allow more immigrants to settle in the overall area. Given these developments it is particularly important and urgent to secure the strategic expansion of

Tapichalaca Reserve.

OBJECTIVES

Long-term Impacts (3+ years)

Protect Tapichalaca as the interface between the Yacurí and Podocarpus national parks to enable gene flow and dispersal on a regional scale

Short-term Impacts (1-3 years)

Expand the protected area and connect the two isolated parts of Tapichalaca

Please list project objectives and activities. Include anticipated start and end dates for each. Be sure to include when the protected area will be

declared or the land will be purchased. Declarations should occur before the project is 70% complete.

Objective Activities Start date End date

Land Purchase

Negotiate Land for the first seven properties. 1. Mosquera; 2. Genaro Guanuche; 3.

Manuel Guanuche; 4. Manuel Guanuche; 5. Morocho Jarro; 6. Segundo Jímenez; 7. Abel Castillo

11/01/2020 03/31/2021

Complete purchase of seven properties 1. Mosquera; 2. Genaro Guanuche; 3.

Manuel Guanuche; 4. Manuel Guanuche; 5. Morocho Jarro; 6. Segundo Jímenez; 7. Abel Castillo

11/01/2020 09/30/2021

Measuring the property and crafting a map according to the standards of the local

land registry office

11/01/2020 12/31/2020

Negotiate land of the following 8 properties: 8. Manuel Castillo; 9. José Jaramillo;

10. Nelsón Sarmiento; 11. Hugo Carrión; 12. Hector Troya; 13. Augusto Ruiz 1; 14.

Augusto Ruiz 2; 15. Granda

04/01/2021 09/30/2021

Complete purchase of the following 8 properties: 8. Manuel Castillo; 9. José

Jaramillo; 10. Nelsón Sarmiento; 11. Hugo Carrión; 12. Hector Troya; 13. Augusto

Ruiz 1; 14. Augusto Ruiz 2; 15. Granda

04/01/2021 06/30/2022

Protected area management

Patrols of area 11/01/2020 06/30/2022

Installation of fence 11/01/2020 06/30/2022

Install signs 11/01/2020 06/30/2022

Building of trails 11/01/2020 06/30/2022

Biodiversity Surveys

Install 10 cameras trap to monitor mammals in Tapichalaca. So far, our cameras

traps have registered 14 spectacled bears in the reserve. We would like to monitor

and have better information on the population of the spectacled bear in the reserve

11/01/2020 06/30/2022

Monitor birds and plants 11/01/2020 06/30/2022

Replace nest boxes for the White-necked parakeet and the Golden-plum parakeet.

Monitor these species

07/01/2021 06/30/2022

Botanists from the University of Puyo will monitor for the presence and if possible,

population sizes of the many threatened plant species in Tapichalaca.

07/01/2021 09/30/2021

Work with community

Workshops with communities- (200-400 people) We will address the threats of

wildlife trafficking and poisoning

04/01/2021 06/30/2022

Work with the community to improve their agricultural activities to make them more

suitable for biodiversity protection.

11/01/2020 06/30/2022

Infrastructure development

Improvement of Tapichalaca´s warehouse, firewood booth, and composter and implement post-covid adjustments to protect our staff and our visitors

11/01/2020 09/30/2021

Improvement of the park guard station 11/01/2020 09/30/2021

Construction of blinds for birdwatchers and photographers. 11/01/2020 03/31/2022

Communication strategy

Communication plan for increasing tourism 11/01/2020 06/30/2022

Communication plan for increasing media coverage of Tapichalaca Reserve 11/01/2020 06/30/2022

METHODS

Please provide a summary of the methods you will use to carry out each project component (e.g. biodiversity surveys, consultation with

communities and traditional authorities, meetings with local, regional, and national government officials).

We will purchase the land using the same methods as before. Byron Puglla, our southern reserve manager will do the negotiations. Our park guards

(Franco, Nicolás and Ramiro Mendoza) will measure the land, install signs, do bird surveys, check trap cameras and patrol the reserve Franco and Nicolás

will spend 100% of their time to the project. Ramiro Mendoza will spend 50% of his time i to the project. We will need to employ a local geographer for

measuring the property and craft a map according to the standards of the local land registry office. Bird surveys will follow a standardized protocol of

walking transects at a standardized speed. We typically do 2 km long transects with a standardized point count every 200 m. The park guards of Tapichalaca are well experienced in this methodology as they carry out the monitoring of migratory birds for our NMBCA project as well as monitoring

the populations of White-breasted Parakeets and Jocotoco Antpittas. We have applied for funding for nest boxes in from July 2021 to June 2022 to

replace the old nest boxes and increase the next boxes of the White-necked parakeet and the Golden-plumed parakeet. José León, our research

coordinator, will coordinate the nest box project.

Franco and Nicolás Mendoza will be equipped with one computer, two binoculars and one camera which will allow them to conduct bird surveys, capture photographs and report their findings at least once a month. The survey will be carried out in the whole parcel. Additionally, ten camera traps will be

installed to monitor mammals, particularly large species such as Spectacled Bear, Mountain Tapir, Puma and Jaguar that roam in Tapichalaca. The

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footage will be checked once a month by our park guards. Jocotoco team will identify the species and individuals (if possible, such as with the facial

markings of Spectacled Bears) and upload all images into our data depository. It is worth mentioning that our current trap cameras have registered diverse

mammals, and our park guards have already been able to identify 14 Spectacled Bears by their facial markings. Through the placement of six additional camera traps and the monitoring done by our park guards, we will be able to determine the population size of spectacled bears in our reserve and it will

also allow us to have a better understanding of the importance our reserve has in the survival of this species. Also, Biodiversity studies will be done by

botanists from the University of Puyo to monitor for the presence and if possible, population sizes of the many threatened plant species in Tapichalaca.

We applied for moderate funding for infrastructure development. This funding will allow us to improve the warehouse, firewood booth, and composter.

Additionally, it will allow us to implement post Covid-19 adjustments to protect our staff and our visitors. It will also allow us to give maintenance to the rooms and restrooms of the park guards. Finally, we will use the infrastructure maintenance funding to build a blinder, so that visitors and photographers

can see Tapichalaca´s bird species without disturbing them.

Our communication team will develop the design of signs as well as create and implement a communication strategy to attract more visitors to the reserve.

The communication strategy will be developed and implemented by our communication assistant. The strategy aims to attract local communities and

tourists to visit Tapichalaca, this will be done through our social media and targeted posts, Also, the communication assistant will be constantly looking for media coverage to cover the biodiversity studies that will be done on the reserve.

Workshops with the communities south of Tapichalaca will contact 200-400 people. The workshops will be done in the second quarter of 2021. We will

address the threats of wildlife trafficking and poisoning as we heard rumors that parrots and parakeets were poisoned below our reserve as they were

regarded as crop pests. We have seen that such workshops are effective. For example, we were called to rescue a young Endangered Black-and-Chestnut

Eagle that hunted chickens. We were able to release the animal unharmed in a remote corner of Tapichalaca Reserve. Finally, Samanta Villegas, our planning and fundraising coordinator, will jointly work with the local coffee grower association APECAP, to train local

farmers and improve their production chain, this will increase earnings for the farmers and it will improve organic coffee cultivation so that it is more

suitable for biodiversity protection and so that they formally protect a portion of their land

PROTECTED AREAS

Project Stakeholders (List the stakeholder groups and describe how they are involved in the project, e.g. environmental agencies, government

officials, local communities, other NGOs, land owners, etc.):

Fundación Jocotoco --land owner

Local communities -- participate in workshops on environmental issues

Local authorities --Jocotoco closely coordinates this project with the authorities to achieve conservation deliverables on a wider scale.

Are national / local environmental agencies, government officials, and other non-governmental organizations supportive of this proposal?

Please provide letters of support if available. Yes --the municipality of Palanda which has included Tapichalaca Reserve into its municipal reserve.

Do people live inside the proposed PA? If so, where, and how many people? Have they been contacted, what is their position, and how will this be

addressed? No

Please provide background information on any local communities involved in the project (e.g., livelihoods, ethnicity). Are they indigenous? How

are they participating in the project? What are the challenges in gaining support for this proposal from local communities?

People in the area are mestizos and indigenous. The latter belong to the large group of Kichwa. Nearby ruins show that indigenous people inhabited this

region for at least 6000 years. Coffee production and cattle production are the typical forms of land use in the region. Both types of land use occur on

small-scale properties of 30-100 ha. People are supportive of Tapichalaca Reserve understanding the benefits that it brings to nearby communities.

What is the proposed PA classification following IUCN’s Protected Areas Categories System: IA -strict biological reserve

In the case of designations of government PAs, will the proposed PA be integrated with the government’s PA system? NA

What potential risks are present that may influence the long-term success of the new PA?

Now that the municipal reserve is declared, there is no further threat from mining. A lack of organizational strength of Jocotoco and consequently also of

financial sustainability would be a risk. However, as alluded to previously, Jocotoco has strongly improved both.

Please detail if the proposed PA connects with other PAs or landscape-scale conservation initiatives?

Yes, with Yacurí and Podocarpus National Parks.

For how many years have people been working on the creation of the proposed PA?

Tapichalaca is our oldest and thus flagship reserve. We are working in the area since 1998.

PA MANAGEMENT

How do you plan to raise additional funds to manage the new PA, once established?

Eco-tourism. Carbon-related funding. We have quantified the carbon stock and uptake in Tapichalaca. The quantification of carbon stock and uptake allows us to

connect to the private sector for offsetting carbon footprint. In 2019, we obtained the first funds for offsetting the carbon footprint of an Ecuadorian

company. We plan to expand this initiative.

Approximately how much money has been spent on the proposed PA to date (very approximate numbers are acceptable)? Approximately how

much of this money went through your organization?

$1,100,000 for land purchase. All of those funds went through Jocotoco.

Please estimate the total cost of declaring the new PA, including past, present, and future costs. This estimate should not include costs for after

the area is formally declared.

The annual budget for maintaining Tapichalaca Reserve is approx. $60,000

Will you mark the boundary? If so, how (e.g. fencing, posts, etc.)?

Yes, by fence and posts. Fences are required to keep out cattle. Posts and signs inform people of the protected area.

Is the area currently being patrolled? If so, how? How many guards conduct how many patrols per month?

We employ 4 park guards who patrol Tapichalaca Reserve constantly.

How will the new PA be protected once established (e.g. patrols, forest guards)? Will patrol teams be armed? How will they enforce the law?

There is no need to arm park guards. There are no land conflicts around Tapichalaca.

Describe if patrol teams (forest guards) will be made up of government staff, non-governmental organization staff, or a mix of these. How many

guards make up a patrol team? Who will be in charge of patrols?

Non-governmental. Only Jocotoco personnel will patrol the area.

FUNDING SOURCES

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Can any funds from other donors be sent through Rainforest Trust? If so, these funds may trigger the SAVES Challenge 1:1 match for your

project.

Yes

Conservation Partner Funding

Organization First Name Last Name Position Address Pledge Date to be Sent

Individual donors 104,226.50

Jocotoco US 34,000

Wilhelma Zoo 201,018

Quick Biodiversity

Response Fund

50,000

Terry Baltimore 50,000

Are you collaborating on this project with any zoos/aquariums? If so, please list the institutions here. Wilhelma Zoo

From where else are you seeking funding?

Source Amount Requested Pending/granted For same project/different projects

Butler Foundation 59,227

BUDGET

Local currency type: United States Dollar (USD)

Does your organization use an automated accounting system (e.g. Quick

Books)? Yes Does the accounting system have the capacity to identify the recipient

and expenditures of funds separately for each grant? Yes

PARTNER BACKGROUND

Partner Organization:

Fundación de Conservación Jocotoco (Fundación de Jocotoco)

Partner Website:

http://www.jocotoco.org/

Date Established: 1998 Legal Status: Domestic Non-profit

Is your organization a member of IUCN? Yes

If not, have you considered becoming a member?

List of Major Financial Supporters including name and email address of contact who is familiar with your work (max. 5):

Rainforest Trust, American Bird Conservancy, World Land Trust

Mailing Address including postal code:

Fundación Jocotoco, Lizardo García E9-104 Y Andrés Xuara, Quito, Ecuador

Mission statement: Established to protect critically important land for Ecuador’s endangered birds and biodiversity, Fundación Jocotoco has

successfully established 15 reserves throughout Ecuador, covering more than 57,000 acres.

Qualification of Organization (Provide details about why your organization is best qualified to implement this project and list relevant

experience (i.e. have you created PAs in the past?):

Jocotoco established and manages a network of 15 reserves totaling about 57,000 acres. This institution was established in 1998 and it is an IUCN Member.

What was the prior year’s organizational budget? $2,000,000

Has the organization ever been audited? If so, how often? Yes, annually

Can you accept wire transfers in the country where the project is located? Yes

Please provide the names and email addresses of 3 professional references.

Nigel Collar <[email protected]; Wendy Willis <[email protected]>; Roland Wirth <[email protected]>, Patricia Zurita, Birdlife

Staff/Board contacts

Martin Schaefer Executive Director [email protected]

Office Quito

Carolina Rodas Communications Lead [email protected]

Belén Bastidas Financial Contact [email protected]

Efrain Northern Jocotoco Reserves

Byron Southern Jocotoco Reserves

Leovigildo Cabrera Forest Guard - Buenaventura [email protected]

Michael Moens Conservation Director [email protected]

Veronica Enriquez Projects Coordinator [email protected]

Leodan Bladimir Aguilar Armijos Forest Guard - Buenaventura

http://www.jocotoco.org/

mailto:[email protected]








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ATTACHMENT B – BANK ACCOUNT DETAILS

The name, address and account details to which Fundación de Conservación Jocotoco should transfer payments are:

Beneficiary Bank (Final Destination)

Swift Code HIBKUS44

or Bank ABA 065000090

Name of Bank Capital One Bank

Address of Bank 1680 Capital One Tower Dr, McLean, VA 22102 USA

Beneficiary Information

IBAN / Account # 1360288109

Full Name of Name of Organization Rainforest Trust Inc

Address of Organization 7200 Lineweaver Road., Suite 100, Warrenton, VA 20187 USA

Charge Party: Beneficiary

Reference for Beneficiary

The name, address and account details to which Rainforest Trust should transfer payments are:

Beneficiary Bank (Final Destination)

Swift Code PACIUS3x

or Bank ABA

Name of Bank Pacific National Bank

Address of Bank 1390 Brickell Avenue, Miami, Florida 33131, USA

Receiving or Intermediary Bank (If Applicable)

Swift Code

or Bank ABA

Name of Bank

Address of Bank

Beneficiary Information

IBAN / Account # 139268706

Full Name of Name of Organization Fundación de Conservación Jocotoco

Address of Organization Lizardo García E9-104 y Andrés Xuara, Quito, Ecuador

Charge Party: Beneficiary

Reference for Beneficiary Tapichalaca Reserve

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ATTACHMENT C - PROJECT BUDGET

Budget Category Budget Item and Description Objective

Number

Year 1 Year 2 Total

Request

(USD) Q1 Q2 Q3 Q4 Q1 Q2 Q3

Personnel Salaries

Park guard salary, Franco Mendoza, 100% time on project 1,2,3,4,5 2,002 2,002 2,002 2,002 2,002 2,002 2,002 $14,014

Park guard salary, Nicolas Mendoza, 100% time on project 1,2,3,4,5 1,707 1,707 1,707 1,707 1,707 1,707 1,707 $11,949

20% of Byron Puglla's, our Southern Reserve Director, annual salary for

the negotiation and land purchase process and coordinating activities 1,2,3,4,5 1,052 1,052 1,052 1,052 1,052 1,052 1,052 $7,364

10% of José León, our Research Coordinator, annual salary for reporting

activities the activities regarding the nest boxes during 2021-2022 3 409 409 409 409 $1,636

10% of Veronica Enriquez, our Project Coordinator, annual salary for the reporting activities

1,2,3,4,5,6 608 608 608 608 608 608 608 $4,256

5% of Communications Coordinator, for designing the reserve signs,

coordinating a marketing plan for increasing tourism and engaging more

media coverage.

1,2,3,4,6 135 135 135 135 135 135 135 $945

10% of Michael Moens, our Conservation Director, annual salary for coordinating activities

1,2,3,4,5,6 1,067 1,067 1,067 1,067 1,067 1,067 1,067 $7,469

10% of Samanta Villegas, our planning and fundraising coordinator,

annual salary for supporting APECAP activities and improving their

agricultural practices

3 512 512 512 512 512 512 512 $3,584

Park guard salary, Ramiro Mendoza, 50% time on project 1,2,3,4,5,6 854 854 854 854 854 854 854 $5,978

Protected Area

Management

Boundary demarcation 2 2,500 2,500 $5,000

Fire breaks 2 1,000 1,000 $2,000

Trail Building 2 3,000 3,000 $6,000

Signs (x2 large $600; x18 small $150) 2 3,900 $3,900

Equipment and

Supplies

Computer (1; $1500) 2,3 1,500 $1,500

Camera traps (x10; $150 each) Bushnell Camera Trophy 24 MP 2,3 1,500 $1,500

Field supplies (camping equipment, and harnesses for parakeet monitoring

and picking up large tree seeds) 2,3 1,000 $1,000

Camera (1; $1000) 2,3 1,000 $1,000

Tech supplies (batteries memory) 2,3 300 300 $600

Vehicle maintenance (general vehicle check) 2,3 1,500 1,500 $3,000

Binoculars (x2, $400 each) 2,3 800 $800

Nest boxes (x50; 30 per box) 3 1,500 $1,500

Workshops about threats of wildlife trafficking and poisoning. (200-400 people)

4 800 $800

Travel

Airfare (6 round airfare Quito-Catamayo) 1,2,3 400 400 400 $1,200

Fuel 1,2,3,4 80 80 80 80 80 80 80 $560

Food and accommodation 1,2,3 600 600 600 $1,800

Infrastructure

Development

Supplies for improvement of: the warehouse, firewood booth, and composter. Post-COVID 19 adaptations for visitors

2,3,5 6,395 $6,395

Blinds 5 3,000 $3,000

Improve park guard station 2,3,5 2,000 $2,000

Biodiversity

Study/Survey

Biodiversity research costs (between for 2-3 days) 3 1,000 $1,000

Meals, transportation, and logistics for botanists from the University of Puyo

3 1,500 $1,500

Professional

Services Local Geographer-measuring the property and craft a map 1,3 1,000 $1,000

Operational Costs Communication 2,3,4,6 300 300 $600

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Budget Category Budget Item and Description Objective

Number

Year 1 Year 2 Total

Request

(USD) Q1 Q2 Q3 Q4 Q1 Q2 Q3

Land Purchase

1. Mosquera property: 20.73 Hectares; 51.22 Acres; Cost/Ha: 1785; (Total average cost per hectare, of the 15 properties, is 1341 per ha.)

1 37,000 $37,000

1. Mosquera Legal fees 1 1,480 $1,480

2. Genaro Guanache property: 37.92 Hectares; 93.70 Acres 1 46,000 $46,000

2. Genaro Guanache Legal fees 1 1,840 $1,840

3. Manual Guanache property: 33.36 Hectares; 82.43 Acres 1 29,588 $29,588

3. Manual Guanache Legal fees 1 1,184 $1,184

4. Manuel Guanache property: 28.65 Hectares; 70.80 Acres 1 25,411 $25,411

4. Manuel Guanache Legal fees 1 1,016 $1,016

5. Jarro property: 86.43 Hectares; 213.57 Acres 1 86,000 $86,000

5. Jarro Legal fees 1 3,440 $3,440

6. Segundo Jimenez property: 36.52 Hectares; 90.24 Acres 1 45,000 $45,000

6. Segundo Jimenez Legal fees 1 1,800 $1,800

7. Abel Castillo property: 42.63 Hectares; 105.34 Acres 1 50,000 $50,000

7. Abel Castillo Legal fees 1 2,000 $2,000

8. Manuel Castillo property: 26.83 Hectares; 66.3 Acres 1 27,000 $27,000

8. Manuel Castillo Legal fees 1 1,080 $1,080

9. José Jaramillo property: 46.62 Hectares; 115.2 Acres 1 80,000 $80,000

9. José Jaramillo Legal fees 1 3,200 $3,200

10. Nelson Samiento property: 23.14 Hectares; 57.18 Acres 1 25,000 $25,000

10. Nelson Samiento Legal fees 1 1,000 $1,000

11. Hugo Carrión property: 44.60 Hectares; 110.2 Acres 1 80,000 $80,000

11.Hugo Carrión Legal fees 1 3,200 $3,200

12. Troya property: 52.92 Hectares; 130.77 Acres 1 45,000 $45,000

12.Troya Legal fees 1 1,800 $1,800

13. Agusto Ruiz 1 property: 55.11 Hectares 1 95,041 $95,041

13.Agusto Ruiz 1 Legal fees 1 3,802 $3,802

14. Agusto Ruiz 2 property: 26.07 Hectares; 64.42 Acres 1 44,959 $44,959

14.Agusto Ruiz 2 Legal fees 1 1,798 $1,798

15. Granda property: 12.67 Hectares; 31.31 Acres 1 25,000 $25,000

15.Granda Legal fees 1 1,000 $1,000

Community

Support

Train APECAP to improve their organic coffee cultivation so that it is

more suitable for biodiversity protection 3 1,500 1,500 $3,000

TOTALS $363,271 $17,717 $454,197 $13,426 $10,526 $10,926 $8,426 $878,489

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FUNDING

1. Rainforest Trust will provide funding up to the amount detailed in the Summary table in this Attachment. The total

funded amount of this Agreement is contingent on the following conditions:

i. Receipt of $439,244.50 USD in matching funds from Fundación de Conservación Jocotoco donors to Rainforest

Trust to trigger matching funds from Rainforest Trust in the amount of $439,244.50 USD. In turn, the combined

$878,489 USD will be transferred to the Project Implementer to accomplish the aims of the project.

ii. Payments will be made by Fundación de Conservación Jocotoco donors to Rainforest Trust in accordance with

the following schedule:

Payment Number Date Amount (USD)

#1 Upon signing of this Agreement1 $45,000

#2 Before 31 Jul 2021 $50,000

#3 Before 31 Jul 2021 $50,000

#4 Before 31 Dec 2021 $93,226.50

#5 Before 31 Dec 2021 $201,018

TOTAL $439,244.50

iii. Wire transfers will be made in US dollars.

iv. If the cost allocation for any Budget item exceeds the original budget, Project Implementer will immediately

inform Rainforest Trust to discuss possible changes to the Budget.

v. If the cost allocation for any budget item is lower than the original Budget for that item, Project Implementer

will immediately inform Rainforest Trust to discuss possible reallocation of the unexpended funds or possible

repayment to Rainforest Trust.

vi. If Project Implementer receives additional funds for the Budget item(s) supported by this Agreement from other

donors (not through Rainforest Trust), Project Implementer shall immediately notify Rainforest Trust of the

total amount provided by Rainforest Trust to Project Implementer for this purpose will be reduced

commensurately.

2. Rainforest Trust agrees to pay to Project Implementer the funds in the following installments:

i. The first payment in the Table below will be disbursed immediately upon signing this Agreement.

3. Future payments are conditional on receipt and approval of Bi-annual Technical Reports, Financial Reports, Content,

and other materials as set forth in the Agreement (download templates from http://www.rainforesttrust.org/project-

resources/). Technical Reports and Financial Reports are to be submitted according to the schedule below. Payment

will be disbursed upon approval of satisfactory reports and conditional on funds remaining with Project Implementer.

Final payment will be made only after the Final Financial and Final Technical Report and any other information

requested by Rainforest Trust are deemed satisfactory. 4. Project Implementer shall confirm receipt of each installment of funds by e-mail to Project Implementer’s assigned

Rainforest Trust Project Officer.

Report

No. Reporting Period

Technical & Financial

Report Due Milestones expected

Amount

(USD)

Signing of Agreement Not Applicable

Payment upon receiving funds from

Fundación de Conservación Jocotoco

donors1

$49,229

#1 01 Nov 2020 - 30 Apr 2021 31 May 2021 $0

#2 01 May 2021 - 31 Oct 2021 30 Nov 2021



donors and completed purchases of the

first seven target properties2

$28,743

1 On 11 November 2019 Rainforest Trust received Payment #1 ($45,000 USD) from Fundación de Conservación Jocotoco donors. 2 This payment and all future payments are contingent on completion of purchase of the first seven target properties of the 1,419-acre

expansion of the Tapichalaca Reserve, and upon receipt of Payments #2 and #3 ($100,000 USD total) from Fundación de Conservación

Jocotoco donors.



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Report

No. Reporting Period

Technical & Financial

Report Due Milestones expected

Amount

(USD)

#3 01 Nov 2021 - 30 Apr 2022 31 May 2022



donors3

$21,452

#4 01 Nov 2020 - 30 Jun 2022 31 Aug 2022 Completed purchases of remaining eight

target properties; Final Reports4 $8,426

TOTAL $107,850

LAND PURCHASE PAYMENTS

1. Payments are conditional upon the following requirements:

i. $770,639 USD of the total Project cost is for land purchase and associated costs e.g. legal fees, taxes, and land

demarcation detailed in Attachment A. Payments for the purchase of the land parcels will be made any time

during the Project period once the conditions below are satisfied for a given parcel:

ii. Negotiations are completed and a price has been confirmed;

iii. Legal land documents, including title and other customary searches and survey maps, and draft deeds and title

or use restrictions, if any, have been reviewed and are in order;

iv. The property has been mapped with the owner using a GPS unit to verify boundaries. The Project Implementer

will provide both the original GPS files AND a clean (errors and irrelevant data removed) shapefile with only

the boundary of the land purchase. The shapefile shall be in KMZ (Google Earth) OR shapefile (ArcGIS) format.

The KMZ or ArcGIS shapefile must be a polygon of the proposed PA, not points. If the polygon is sent in

ArcGIS format, all of the following files are required: (.shp, .shx, .dbf, .prj) and the following additional files

are preferred: (.sbn, .sbx, .cpg). The files should be sent to the Rainforest Trust Project Officer);

v. The purchase is imminent and Project Implementer certifies to Rainforest Trust that funds for the purchase are

required within two (2) weeks. If the purchase is not completed as planned, Project Implementer will notify Rainforest Trust immediately and consult with respect to a revised completion date. If Project Implementer

determines that the purchase cannot be completed for any reason, it shall immediately notify Rainforest Trust

to this effect and return the funds provided for this purpose within thirty (30) days.

3 This payment and all future payments are contingent on receipt of Payments #4 and #5 ($294,244.50 USD total) from Fundación de

Conservación Jocotoco donors. 4 This payment is contingent on completion of purchase of the last eight target properties establishing the proposed 1,419-acre expansion

of the Tapichalaca Reserve, together with satisfactory review of Final Reports.

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ATTACHMENT D - PROJECT FINANCIAL REPORTS - SUMMARY SHEET

Project Implementer shall use the following format for the Project Financial Reports, with each Budget item accounted for

separately, showing the single expenditures and the same subtotals for each budget item as indicated in this summary sheet.

Download a copy of the financial report template here: http://www.rainforesttrust.org/project-resources/. Please complete

and send as electronic copies to your assigned Rainforest Trust Project Officer. The numbers in the first section are examples

to visualize the intended use. The different colored cells indicate the sources for final calculations.


Rainforest Trust Project Agreement

Documents

Transcript of Rainforest Trust Project Agreement