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5. Any net proceeds from EDA's conveyance of the Property for redevelopment <br />shall be divided as the parties may subsequently agree. <br />IN WITNESS WHEREOF, this Agreement has been executed on behalf of the EDA <br />and the City. <br />Approved as to Form and Legality <br />By: <br />George M. Willson, City Attorney <br />CITY OF PORTSMOUTH, VIRGINIA <br />By: <br />John L. Rowe, Jr., City Manager <br />ECONOMIC DEVELOPMENT <br />AUTHORITY OF THE CITY OF <br />PORTSMOUTH, VIRGINIA <br />By: <br />Lisa L. Lucas-Burke, Chair <br />2 <br />