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CCP 06-15-1992
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CCP 06-15-1992
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5/8/2007 1:09:07 PM
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<br /> m <br /> \..., ARTICLE II . <br /> Representations and Warranties <br /> Section 2.1. Representations bv the City. The City makes the <br /> following representations as the basis for the undertaking on its <br /> part herein contained: <br /> (a) The City is a statutory city of the State with all the <br /> powers of a statutory city duly organized and existing under the <br /> laws of the State. Under the provisions of the Act, the City has <br /> the power to enter into this Agreement and carry out its obliga- <br /> tions hereunder. <br /> ( b) The City has created, adopted and approved and Develop- <br /> ment District in accordance with the terms of the Act. <br /> (c) The City has created, adopted, certified, and approved <br /> the Tax Increment District pursuant to the Tax Increment Act. <br /> Cd) The City proposes to pledge the tax increments generated <br /> by the Tax Increment District to reimburse the Developer and for <br /> expenses in accordance with the plan. <br /> C e) The Minimum Improvements will be an allowed use under the <br /> ~ zoning ordinance of the city. . <br /> Section 2.2. Representations and Warranties bv the Developer. <br /> The Developer represents and warrants that: <br /> ( a) The Developer will construct, operate and maintain the <br /> Minimum Improvements in accordance with the terms of this Agree- <br /> ment, the Development Plan and all local, state and federal laws <br /> and regulations (including, but not limi ted to, environmental, <br /> zoning. building code and public health laws and regulations), <br /> except for variances necessary to construct the improvements <br /> contemplated in the Construction Plans approved by the City. <br /> (b) The Minimum Improvements shall have a Market Value of at <br /> least $3,566,991. <br /> - <br /> (c) The Developer agrees that it will indemnify, defend, and <br /> hold harmless the City, its governing body members, officers, <br /> employees, agents and contractors, from any and all claims or <br /> causes of action, of whatsoever nature, arising or purportedly <br /> arising out of the actions of the Developer, its officers, <br /> employees, agents or contractors in connection with the Agreement <br /> or the construction, installation, ownership or operation of the <br /> Minimum Improvements. <br /> L . <br /> 5 <br />
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