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Concord Mills, with the City's and County's consent, which consent shall not be <br />unreasonably withheld, conditioned or delayed. <br /> <br />Confidentiali _ty. The parties hereto agree that during the negotiation of the BA, the <br />parties shall endeavor in good faith and use their best efforts not to disclose <br />(without the consent of the other parties hereto) any material aspect of the terms <br />and conditions of the BA to any unrelated party unless required by law. <br /> <br />Authori _ty. The parties hereto have the full legal power and authority to enter into <br />and perform this MOU in accordance with its terms, and this MOU constitutes the <br />valid and binding obligation of the parties, enforceable in accordance with its <br />terms. <br /> <br />IV. EFFECT OF THIS MEMORANDUM OF UNDERSTANDING <br /> <br /> Notwithstanding any other provisions of this MOU, the City, County and Developer <br />expressly acknowledge and agree as follows: <br /> <br /> This is a memorandum of understanding only, and is not a definitive agreement relating <br />to any of the mat~ers described herein. Except for the obligations of the City, County and <br />Developer to negotiate in good faith the terms of the BA and except for the agreement of the City <br />and County that the Economic Incentive Program is intended to induce the Developer to locate <br />the Project in the City and to substantially assist and encourage the Developer with economic <br />incentives to locate and construct the Project in the City as more fully detailed in the BA as duly <br />authorized and approved by the City, the County and the Developer, as applicable. <br />Notwithstanding any provision of this MOU to the contrary, Developer acknowledges and <br />agrees: (i) that this MOU does not obligate the City and County or in any way to approve, in <br />whole or in part, any of the matters described in this MOU; (ii) that all such matters shall be <br />considered and processed by the City and County, as applicable, in accordance with all otherwise <br />applicable requirements and procedures; and (iii) that the City and County reserves ali rights to <br />approve, disapprove or approve with conditions all such matters in its reasonable discretion, <br />subject to the City's and County's obligation as set forth in this MOU to consider such matters <br />and to negotiate the BA in good faith using their best efforts. This' MOU shall be (i) null and <br />void and of no effect in the event this MOU is terminated in accordance with Section I.D. of this <br />MOU, and (ii) superseded by the terms and conditions of this MOU. <br /> <br />[SIGNATURE PAGE TO FOLLOW] <br /> <br /> <br />