CCP 08-18-1997 - Laserfiche WebLink

Home Browse Search

. ARTICLE 11 Representations Section 2.1. R cnresentations bv the Authoritv. The Au.thority makes the following representations and warranties as the basis for the undertaking on its part herein contained: (a) The Authority is a public body politic and corporate and a political subdivision of the State duly organized and existing under the laws of the Statc. Under the provisions of the Act, the Authority has the power to enter into this Agreement and carry out its obligations hereunder. (b) The Project is a "municipal development district" within the meaning of the Act ~ and was created, adopted and approved in accordance with the terms of the Act. (c) The Tax Increment District is a "redevelopment tax increment district", which was created, adopted, certified and approved pursuant to the Tax increment Act. (d) The Authority will cooperate with the Redeveloper with respect to any litigation . co=enced with respect to the Plan, Project, or Minimum Improvements. (e) The Authority has received no notice or communication from any local, state or federal official that the activities of the Redeveloper or the Authority in the Project Area may be or will be in violation of any environmental law or regulation. The Authority is aware of no facts, the existence ofwhieh would cause the Redeveloper or the Redevelopment Property to be in violation of any local, state or federal environmental Jawor regulation or review procedure or which would give any person a valid claim under any of the foregoing. - Section 2.2. R~resentations and Warranties bv the Redeveloper. The Redeveloper - represents and warrants that: I (a) The Redeveloper is a cel'jloratiell Minnesota limited liabilitv company duly organized and in geed slanGiB~ \!Beer the la\"s sf authorized to trans ad busincss in the State, is not in vi.olation of any provisions of its articles of incorporation sr eylaws ol?eratin~ agreement I or member control alp"eement or the laws of the Statc, has power to enter into this Agreement and has duly authorized the execution, delivery and performance of this Agreement by proper action of its em oafS and eH>ast governors. I (b) The Redeveloper will construct the Minimum Improvements in accordance with the terms of this Agreenlent and all local, state and federa1laws and regulatioos. I (c) The Minimum Improvements will be constructed at a cost sufficient to generate .. improvements with a market value for tax purposes at least equal to the minimum market values required in Section 6.5 of this Agreement. I 7 l.t/z. 'd 6v()l. <.G6 <:.9 '~'d '3NI3a 2 A3la~da 90:9. l.66.-n-m~