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RELATIONSHIP BETWEEN THE CONDOMINIUM AGREEMENT°AND <br /> MEMORANDUM OF UNDERSTANDING <br /> • The condominium agreement establishes the legal basis for the joint <br /> ownership of the property. Once approved by both jurisdictions, it will <br /> be recorded as part of the official record. There will be little need to <br /> change this document going forward. <br /> • The Memorandum of Understanding ("MOU") establishes the <br /> principles for the joint operation of the facility outside of those <br /> stipulated in the condominium agreement. Both jurisdictions approve <br /> the MOU , which may be amended as needed and re-approved by <br /> both jurisdictions. <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />