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designs and uses must be approved by the City prior to conveyance of the <br />properties. <br />b. The purchase price for 801 Crawford Street and 801 Water Street will be fair <br />market value (taking into account the cost of any demolition to be performed by <br />Armada as part of the project). <br />Recitals. The Recitals are incorporated herein by reference. <br />4. Term. This Memorandum of Understanding shall expire on September 30, 2019 but may <br />be extended from time to time by mutual agreement of all parties. The City Manager, with the <br />advice and consent of City Council, is authorized to execute any such extension without formal <br />action of Council. <br />5. Public Interest Finding. The authorization of this instrument by City Council pursuant to <br />official action on 2019 comprises a preliminary legislative finding that the <br />Project, if developed in the manner set forth herein, will be in the public interest. <br />{SIGNATURES ON FOLLOWING PAGE} <br />