CCP 06-15-1992 - Laserfiche WebLink

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'e ARTICLE II REPRESENTATIONS AND WARRANTIES. Section 2.1. Representations and Warranties of the City. The City makes the following representations and warranties: (1) The City is a municipal corporation and has the power to enter into this Agreement and carry out its obligations hereunder. (2) Based on the covenants of the Developer set forth in section 3.4, the Ta~ Increment District is a "housing district" within the meaning of Minnesota statutes, Section 469.174, Subdivision 11, and was created, adopted and approved in accordance with the terms of the Tax Increment Act. (3) The development contemplated by this Agreement is in conformance with the development objectives set forth in the Development Program. (4) To finance certain costs within the Tax Increment District, the City proposes, subject to the further provisions of this Agreement, to apply Tax Increments to reimburse the Developer for the costs of the Development Property and certain site Improvements incurred in connection with the Project as . further provided in this Agreement. The city makes no representation or warranty, either (5) express or implied, as to the Development Property or its condition or the soil conditions thereon, or that the Development Property shall be suitable for the Developer'S purposes or needs. Section 2.2. Representations and Warranties of the Developer. The Developer makes the following representations and warranties: (1) The Developer has power to enter into this Agreement and to perform its obligations hereunder and is not in violation of the laws of the State. (2) The Developer will cause the Project to be installed in accordance with the terms of this Agreement, ,the Development Program, and all local, state and federal laws and regulations (inclUding, but not limited to, environmental, zoning, energy conservation, building code and public health laws and regulations). '. 18499 5