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<br /> <br />ARTICLE II <br /> <br />REPRESENTATIONS AND WARRANTIES <br /> <br />Section 2.1 Representations and Warranties of the City. The City makes the following <br />representations and warranties: <br /> <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 /> <br />(2)The Tax Abatement Program was created, adopted and approved in accordance <br />with the terms of the Tax Abatement Act. <br /> <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 /> <br />(4)The City has made the findings required by the Tax Abatement Act for the Tax <br />Abatement Program. <br /> <br />Section 2.2 Representations and Warranties of the Developer. The Developer makes the <br />following representations and warranties: <br /> <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 /> <br />(2)The Developer is a limited liability company validly existing under the laws of <br />this State and has full power and to enter into this Agreement and carry out the covenants <br />contained herein. <br /> <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 /> <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 /> <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 />464427v2 JSB EL185-33 <br />