AG 1998 11 16 - Laserfiche WebLink

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Exhibit 3 IV. EFFECT OF THIS MEMORANDUM OF UNDERSTANDING Notwithstanding any other provisions of this MOU, the City, County, Tourism Authority and Developer expressly acknowledge and agree as follows: This is a memorandum of understanding only, and is not a definitive agreement relating to any of the matters described herein. Except for the obligations of the City~ County, Tourism Authority and Developer to negotiate in good faith the terms of the BA and except for the agreement ofthe City, County and Tourism Authority that the Economio Incentive Program is intended to induce the Developer to locate the Project in the City and to substantially assist and encourage the Developer with economic incentives to locate and construct the Project in the City as more fully detailed in the BA as duly authorized and approved by the City, the County, the Tourism Authority and the Developer, as applicable. Notwithstanding any provision of this MOU to the contrary, Developer acknowledges and agrees: (i) that this MOU does not obligate the City and County or in any way to approve, in whole or in part, any of the matters described in this MOU; (lO that all such matters shall be considered and processed by the City and County, as applicable, in accordance with all otherwise applicable requirements and procedures; and (iii) that the City and County reserve all rights to approve, disapprove or approve with conditions all such matters in its reasonable discretion, subject to the City's and County's obligation as set forth in this MOU to consider such matters and to negotiate the BA in good faith using their best efforts. This MOU shall be (i) null and void and of no effect in the event this MOU is terminated in accordance with Section I.D. of this MOU, and (ii) superseded by the terms and conditions of this MOU. [SIGNATURE PAGE TO FOLLOW] Filenam¢ - S:\Plam~ing\MOU-Marriott.doc -9- Revised