3.0.-5.0. EDSR 04-26-1993 - Laserfiche WebLink

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action, directly results in delays, or acts of any federal, state or local governmental unit (other than the EDA or the City) which • directly result in delays. ARTICLE II Representations and Warranties 2 .1) Representations by City and EDA. The City and EDA make the following representations as the basis for the undertaking on their part herein contained: (01) The Project is a "development program" within the meaning of the Act and was created, adopted and approved in accordance with the terms of the Act. (02) The Property is located within a "tax increment district" created, adopted, certified and approved pursuant to Minnesota Statutes, Section 469 .177. (03) The activities of the City and EDA are undertaken for the purposes and objectives stated in the Development Program. (04) The Authority is the owner of the Property and intends to convey the Property to Developer for uses in accordance with this Agreement. • 2 .2) Representations and Warranties by the Developer. The Developer represents and warrants that: (01) The Developer is a Minnesota corporation duly organized and in good standing under the laws of the State, is not knowingly in violation of any provisions of the laws of the State, has power to enter into this Agreement and has duly authorized the execution, delivery and performance of this Agreement by proper action of its Board of Directors. (02) The Developer will construct, operate and maintain 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) . (03) To the best of Developer' s knowledge, the Minimum Improvements constitute a permitted use under federal laws and regulations (including, but not limited to, environmental, zoning, building code and public health laws and regulations) . (04) The Minimum Improvements will be constructed at a cost of at least $ (including land and building) in the event the Property is conveyed to the Developer. 4.