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(f) To the best knowledge and belief of the Company, the <br />construction of the Improvements on the Development Property <br />within the reasonably foreseeable future is conditioned on the <br />assistance and benefit provided for in this Agreement. It is <br />also the belief of the Company that the level and expected <br />duration of the cash flow assistance to be provided pursuant <br />to the TIF Bond are essential in order to make feasible the <br />financing and initial operation of the Improvements due to the <br />fact that SoftPac has indicated to the Company that it would <br />not enter into the SoftPac Lease without such assistance, and <br />absent the SoftPac Lease, the Company would definitely not <br />proceed with the Project. <br /> <br /> (g) The Company represents that it expects to enter into <br />an option or similar agreement pursuant to which the Company <br />will have the right to purchase the Development Property and <br />that said agreement (if executed prior to the City Council's <br />public hearing on and approval of the TIF District and the TIF <br />Plan) will be contingent upon the receipt of tax increment <br />assistance for the Project. <br /> <br /> (h) The City represents, and the Company acknowledges, <br />that the City intends to finance its assistance provided under <br />this Agreement through tax increments derived from the Project <br />and that the City has established the Development Property as <br />the TIF District, and more particularly as an "economic <br />development district" within the meaning of Minnesota <br />Statutes, Section 469.174, Subdivision 12. For purposes of <br />establishing compliance with the limitations provided in <br />Minnesota Statutes, Section 469.176, Subdivision 4c, the <br />Company hereby represents to and covenants with the City that <br />not less than 85% of the buildings and facilities comprising <br />the Improvements (determined on the basis of square footage) <br />are to be used and will be used during the Term for one or <br />more of the following purposes: (1) the manufacturing of <br />tangible personal property, including processing resulting in <br />the change in condition of the property; (2) warehousing, <br />storage and distribution of tangible personal property, <br />excluding retail sales; and (3) space necessary for and <br />related to the activities described in (1) and (2) of this <br />subsection. <br /> <br /> (i) In particular, the Company covenants that the <br />Project will throughout the Term be leased to (or occupied by) <br />SoftPac and used by SoftPac in its manufacturing and related <br />operations. <br /> <br />1198072 .2 5 <br /> <br /> <br />