TITLE
MEMORANDUM OF UNDERSTANDING: CITY & THE LEE GROUP, INC./KENSINGTON HOLDINGS, LLC TO NEGOTIATE IN GOOD FAITH FOR PURCHASE & SALE & SUBSEQUENT DEVELOPMENT OF CERTAIN REAL PROPERTY LOCATED AT 100 LONG BEACH BOULEVARD - GOOD FAITH DEPOSIT: $50,000 ($10,000 OF WHICH SHALL BE NON-REFUNDABLE)