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<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 the Developer, the City <br />proposes, subject to the further provisions of this Agreement, to convey the Tax Abatement <br />Property to the Developer and apply the Tax Abatements to reimburse the Developer for a <br />portion of the costs of the Tax Abatement Property as further provided in this 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 corporation validly existing under the laws of this State and <br />has full power to enter into this Agreement and carry out the covenants contained herein. <br /> <br />(3) The Developer will cause the Project to be constructed in accordance with the <br />terms of this Agreement and all local, state and federal laws and regulations (including, but not <br />limited to, environmental, zoning, energy conservation, building code and public health laws and <br />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 the Developer, and in <br />the opmlOn of the Developer would not be economically feasible within the reasonably <br />foreseeable future, without the assistance and benefit to the Developer provided for in this <br />Agreement. <br /> <br />1844748vl <br /> <br />3 <br />