From WikiPedia and other places:
A memorandum of understanding (MOU or MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. In some cases, depending on the exact wording, MoUs can have the binding power of a contract (this is the version in use between WLAC and the neighboring Homeowners associations).
In our case, the MOU is a binding legal agreement that was entered into by the Los Angeles Community College District, CCNA and two Raintree homeowners groups. It restates many of the mitigation measures that were included in the College’s Environmental Impact Report and makes them binding contractual obligations of the College and the Community College District running in favor of the Associations.
Culver Crest Neighborhood Association 