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enters into any contract with a soils engineer, Authority shall • have the right to approve the soils engineer selected by the Optionee. No such consent or approval shall be unreasonably withheld or delayed. Section 5. Agreement Contingent Upon City Council Approval. • This Agreement is contingent upon occurrence of one of the following events: (a) approval of the Agreement by City Council within forty-five (45) days of the date of the Authority approves the Agreement; or (b) waiver of the City Council's opportunity to review the Agreement by delivery of notice of such waiver to Optionee and Authority at any time within such forty-five (45) day period. In the absence of such approval or waiver, the Agreement shall be deemed void and of no effect and the waiver period may be made shorter or longer by written consent of Optionee and the City Manager of the City of Charlottesville after the City Manager has obtained permission for such change from a majority of City Council. Section 6. 6.1 Any notice, permitted to be given under writing and shall be deemed delivered or when delivered certified mail, return rec addressed as follows: To Authority: Charlottesville Industrial Development Authority c/o James Gahres P.O. Box 911 Charlottesville, VA 22902 with a copy to: W. Clyde Gouldman, II City Attorney City of Charlottesville P.O. Box 911 Charlottesville, VA 22902 Miscellaneous. election, or consent required or this Agreement shall be given in to have been duly given when hand by United States registered or :ipt requested, postage prepaid, To Optionee: Market St. LLC c/o James Stultz, Managing Ptner with a copy to: L+-foS 6.2 This Agreement is binding upon and shall inure to the benefit of the parties hereto and their respective successors, assigns, and nominees. Page 3