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ARTICLE II <br />REPRESENTATIONS AND Vl'ARR.ANTIES <br />Section 2.1 Representations and Warranties of the Cite. The Cit}~ 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 camp 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) 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 apply the Tax Abatements to <br />reimburse the Developer for a portion of the costs of the Tax Abatement Property as further <br />provided in this Agreement. <br />(4) The City has made the findings required by the Tax Abatement Act for the Tag <br />Abatement Program. <br />Section 2.2 Representations and Warranties of the Developer. The Developer makes the <br />following representations and warranties: <br />(1 j The Developer has the power to enter into this Agreement and to perform its <br />obligations hereunder and doing so will not violate its articles of organization or operating <br />agreement or any local, state or federal laws. <br />(2) The Developer is a limited liability company validly existing under the laws of <br />this State and has full power to enter into this Agreement and carry out the covenants contained <br />herein. <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 />(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 />(~) The construction of the Project would not be undertaken by the Developer, and in <br />the opinion 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 />204~533v4 j <br />