AG 1997 09 15 - Laserfiche WebLink

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Exhibit 4-A MEMORANDUM OF UNDERSTANDING The purpose of this Memorandum of Understanding ("MOLt") is to set forth certain agreements by and among the City of Concord, North Carolina (the "City"), County of Cabarrus, North Carolina (the "County") and a Joint Venture to be formed by The Mills Limited Partnership and the Simon DeBartolo Group (collectively the "Developer") to negotiate, prepare and execute certain documents regarding the proposed development on certain property described on ~ attached hereto the "initial phase" ora retail project to be known as "Concord Mills" or such other name designated by Developer which initial phase shall cor~ist of among other things, approximately 1,400,000 gross teaseable area ("Concord Mills" or "Project"). This MOU sets forth a summary of the basic temps of the rout-a! understanding of the City, County and Developer regarding the contents of a business agreement ("BA')'to be entered into by the parties hereto (and such other municipalities as the parties hereto mutually agree upon). Except as provided herein, the parties hereto shall not be bound by any agreement until a mutually acceptable BA is approved and executedby the governing body of the City, County and the Board of Directors of Developer. I. THE PARTIES Ci _ty. The City is a municipal corporation of the State of North Carolina located in County of Cabarrus, North Carolina. The office of the City is located at 26 Union Street, South, Concord, North Carolina 28026. The principal officer of the City for purposes of receiving communications, facilitating approvals and negotiating the BA will be Leonard B. Sossamon, City Manager, telephone (704) 786-6161, facsimile (704) 786-7068. Developer. Developer is a joint venture to be formed by and between The Mills Limited Partnership ("TMC") and the Simon DeBartolo Group ("Simon") together with such other investors, partners or affiliates as they deem necessary for the Project. TMC has extensive experience in developing super-regional value- and entertainment-oriented retail malls, including those in California, Virginia, Pennsylvania, Illinois and Florida. Simon has extensive experience in developing regional malls throughout the United States. The principal officer of Developer for the purpose of receiving communications, facilitating approvals and negotiating the BA shall be a TMC employee namely, Edward B. Vinson, Vice President, Development Director. telephone (703) 526-5049, facsimile (703) 526-5199. qrOurlty. County of Cabarrus. is a political subdivision of the State of North Carolina. The office of the County is located at 65 Church Street, S.E., Concord, North Carolina 28025. The principal officer of the County for purposes of receiving communications, facilitating approvals and negotiating the BA will be Frank W. Clifton, Jr., County Manager, telephone (704) 788-8100, facsimile (704) 788-9820.