Continuous recording and events at the same time?

If I wanted to track and tag motion, that goes into the cloud at 12 sec clips with a 5 minute reset period, correct? But is it also possible (using a SD card) to record continuously over the same period? Basically, record two separate streams at the same time.

What I really want to do is to be able to record every motion movement as an event with no refresh and be able to record a continuous stream so I can revisit the stream to see the motion.

Yes, you can do exactly what you describe. Motion event recording to the cloud (12 second clips) and continuous SD card recording are completely independent.