5.0. 6.0. 7.0. EDSR 07-12-1999 - Laserfiche WebLink

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FROM GRAY PLANT MOOTY MOOTY & BENNETT (#3) (FRI) 7. 9' 99 9:33/ST. 9:28/Na 4261218754 P 11 • (f) The City and the Authority make no representation, guarantee or warranty, either expressed or implied, and hereby assume no responsibility or liability as to the Redevelopment Property or its condition (whether regarding soils, pollutants, hazardous wastes or materials or otherwise) or that the Redevelopment Property will be suitable for the purposes or needs of the Redeveloper. Section 2.2 Representations by the Redeveloper. The Redeveloper represents that: (a) The Rcdcvcloper consists of the following three related entities, which have the legal capacity to enter into this Agreement and perform the obligations set forth herein: (i) Associated Investors of Elk River, Inc., which is the owner of the Shopping Center Property and the prospective developer of the Shopping Center Project; (ii) Fischer Sand & Aggregate, LLP, which is the owner of the Business Park Property and a prospective partner in the development of the Business Park Project; and (iii) Elk River Business Park, LLC, which is the prospective developer of the Business Park Project. (b) All three Rcdcvcloper entities are duly organized, existing, and in good standing under the laws of the State of Minnesota. The Redeveloper has full power and authority to enter into this Agreement and to perform its obligations hereunder and has taken or caused to be taken • all actions necessary to make the Agreement, when executed and delivered by the Parties, the valid and binding agreement and obligation of the Redeveloper, enforceable in accordance with its terms, except to the extent such enforceability may be limited by equitable principles and by laws affecting remedies and by bankruptcy moratorium and insolvency Iaws and laws affecting creditors,rights, heretofore or hereinafter enacted. (c) The Redeveloper will construct the Minimum Improvements in accordance with the terms of this Agreement and all local, state and federal laws and regulations (including, but not limited to, environmental, zoning, building code and public health laws and regulations), except for variances necessary to construct the Improvements contemplated in the Construction Plans approved by the Authority. (d) The Redeveloper has received no notice or communication from any local, state or federal official that the activities of the Redeveloper or the Authority in the Project Area may be or will be in violation of any environmental law or regulation. The Redeveloper, to the best of its knowledge,is aware of no facts the existence of which would cause it to be in violation of any local, state or federal environmental law,regulation or review procedure. (e) The Redeveloper agrees and covenants that it will use its best efforts to obtain or cause to be obtained, in a timely manner, all required permits, authorizations, Iicenses and approvals, including environmental and zoning approvals necessary for development of the Improvements, and that the Redeveloper will meet and abide by, in a timely manner, all • requirements and conditions of all such permits, authorizations, Iicenses, and approvals and of all -7-