CCP 07-20-1993 - Laserfiche WebLink

Home Browse Search

. 1.07. ParmershiD. For purposes of this Agreement, the term "Parmership" includes Coaage Villas of Arden Hills Limited Partnership. its ~~ successors and assigns hereunder. and any person or entity to whom the Property or any of Its nghts hereunder are ttansfem:d or assigned. as hereinafter permitted. Section i Rtmre~tarions_ 2.01. City Reore~tations.. The City hereby represents as follows: (a) The City is authorized by law to enter into this Agreement and to carry out its covenants and agrcc41Cllts hereunder. (b) The City has designated the Development Disaict and has adopted the Development Progmn in accordance with the provisions of the Act, and has created the District and adopted the Fmancing Plan in accordance with the provisions of the Tax Increment Fmancing Act. 2.02. Parmership Representations and Al!Teemenls. The Parmership hereby represents ". and agrees as follows: (a) The Parmership is a limited partnership duly organized and validly existing under the laws of the State of Minnesora. and is duly qualified to do business in the State of MinneSOta. The Partnership has the power to enter into this Agreement and the Declaration (as hereinafter defined) and has duly authorized by all necessary partnership action the execution and delivery of this Agreement. . (b) The Partnership will. subject to Unavoidable Delays (as hereinafter defmed). complete (or cause to be completed) the Public Development Activities and construct, opctllte and maintain the improvements listed on Exhibit C hereto (the "Minimum Improvements") in accordance with the terms of this Agreement, the Development Program. the Financing Plan and all applicable local. state and fec;leral laws and regulations. (c) At such time or times as may be required by law. the Parmership will have complied with a1l1ocal. state and federal environmental laws and regulations applicable to the Property. the Public Development Activities and the Minimum Improvements. will have obtained any and all necessary environmental reviews. licenses or clearances under, and will be in compliance with the requirements of. the National Environmental Policy Act of 1969. the Minnesota Environmental Policy Act and the Critical Area Act of 1973. The Partnership has not received notice or communication from any local, state or federal official indicating that the activities of the Parmership may be or will be in violation of any environmental law or regulation. The Partnership is not aware of any facts the existence of which would cause Partnership to be in violation of any local. state or federal environmental law, regulation or review procedure applicable to the Property, the Public Development Activities or the Minimum Improvements or which would give any person a valid claim under the Minnesota Environmental Rights ACL . (e) The Parmership will obtain. in a timely manner. all required permits, licenses and approvals. and will meet, in a timely manner. all requirements of all local. state and federal laws and regulations which must be obtained or met in connection with the Public Development Activities and the Minimum Improvements. Without limitation to the . -2- . -~---_.._---