Laserfiche WebLink
ARTICLE II <br />REPRESENTATIONS AND WARRANTIES <br />Section 2.1 Representations and Warranties of the City. The City makes the following <br />representations and warranties: <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 />(2) The Tax Abatement Program was created, adopted and approved in accordance <br />with the terms of the Tax Abatement Act. <br />(3) The City proposes, subject to the further provisions of this Agreement, to provide <br />certain financial assistance to the Developer for certain Eligible Costs incurred in connection <br />with the Project as further provided in this Agreement. <br />(4) The City makes no representation or warranty, either express or implied, as to the <br />Tax Abatement Property or its condition, or that the Tax Abatement Property shall be suitable for <br />the Developer's purposes or needs. <br />Section 2.2 Representations and Warranties of the Developer. The Developer makes the <br />following representations and warranties: <br />(1) The Developer has the power and authority to enter into this Agreement and to <br />perform its obligations hereunder and is not in violation of its articles of organization, operating <br />agreement or any local, state or federal laws. <br />(2) The Developer is a limited liability company validly existing and in good standing <br />under the laws of this State and has full power and to enter into this Agreement and carry out the <br />covenants contained herein. <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 />(4) Before the Project may be constructed, the Developer will obtain or cause to be <br />obtained, in a timely manner, all required permits, licenses and approvals, and will meet, in a <br />timely manner, all requirements of all applicable local, state, and federal laws and regulations. <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 />4 <br />EL 185\74\870137.v5 <br />