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ARTICLE II <br /> REPRESENTATIONS AND WARRANTIES <br /> Section 2.1 Representations and Warranties of the City. The City makes the following <br /> representations and warranties: <br /> (1) The City is a municipal corporation and a political subdivision of the State and <br /> has the power to enter into this Agreement and carry out its obligations hereunder. <br /> (2) The Tax Abatement Program was created, adopted and approved in accordance <br /> with the terms of the Tax Abatement Act. <br /> (3) To finance the costs of the Project to be undertaken by or on behalf of the <br /> Developer, the City proposes, subject to the further provisions of this Agreement, to convey the <br /> Tax Abatement Property to the Developer and apply the Tax Abatements to reimburse the <br /> Developer for a portion of the costs of the Tax Abatement Property as further provided in this <br /> Agreement. <br /> (4) The City has made the findings required by the Tax Abatement Act for the Tax <br /> Abatement Program. <br /> Section 2.2 Representations and Warranties of the Developer. The Developer makes the <br /> following representations and warranties: <br /> (1) The Developer has the power to enter into this Agreement and to perform its <br /> obligations hereunder and is not in violation of its articles, operating agreement or member <br /> control agreement or any local, state or federal laws. <br /> (2) The Developer is a corporation validly existing under the laws of this State and <br /> has full power and to enter into this Agreement and carry out the covenants contained herein. <br /> (3) The Developer will construct the Project or cause the Project to be constructed in <br /> accordance with the terms of this Agreement and all local, state and federal laws and regulations <br /> (including, but not limited to, environmental, zoning, energy conservation, building code and <br /> public health laws and regulations). <br /> (4) The Developer will obtain or cause to be obtained, in a timely manner, all <br /> required permits, licenses and approvals, and will meet, in a timely manner, all requirements of <br /> all applicable local, state, and federal laws and regulations which must be obtained or met before <br /> the Project may be lawfully constructed <br /> (5) The construction of the Project would not be undertaken by or on behalf of the <br /> Developer, and in the opinion of the Developer would not be economically feasible within the <br /> reasonably foreseeable future, without the assistance and benefit to the Developer provided for in <br /> this Agreement. <br /> 4613440 JSB EL185-32 <br />