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<br />MEMORANDUM OF UNDERSTANDING <br />BETWEEN THE PORTSMOUTH MUSEUMS FOUNDATION <br />AND THE CITY OF PORTSMOUTH, VIRGINIA <br /> <br />THIS MEMORANDUM OF UNDERSTANDING, by and between CITY OF <br />PORTSMOUTH, VIRGINIA (the "City") and PORTSMOUTH MUSEUMS <br />FOUNDATION, INC., a Virginia nonstock corporation, (the "Foundation") provides as <br />follows: <br /> <br />RECITALS <br /> <br />1. This is a Memorandum of Understanding reflecting the good faith <br /> <br />understandings, agreements, and intentions of the parties on the matter addressed herein, <br /> <br />and it is the good faith intention of both parties to adhere to it, but it does not create any <br /> <br />legal duties, rights, powers, or disabilities. It may not be the basis for, of admissible as <br /> <br />evidence in, any possible legal proceeding and creates no rights of any type whatsoever <br /> <br />in any third parties. <br />2. The Foundation is a nonstock, nonprofit corporation that was formed, and <br /> <br />that continues to exist and operate, for the principal purpose of marshaling resources from <br /> <br />the private sector in support of the continued successful operation and growth ofthe <br /> <br />City's museums. To this end, it raises funds and receives gifts and bequests for the City's <br /> <br />museums. <br /> <br />3. The late Dorothy G. Scott was a member of the Elizabeth River Artists <br /> <br />Club ("ERAC"), a group of local artists that met and painted in the Portsmouth Art and <br />