CCP 09-22-1997 - Laserfiche WebLink

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- . ARTICLE n Re'pTesentations Section 2,}, F-~res""'tations by the Authority. The Authority 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 eotporate and a political subdivision of the State duly organized and existing under the laws of the State. Under the provisio~s of the Act, the Authority has the power to enter into tbis Agreement and carry out its obl1gations hereunder, (b) The Project is a "municipal development distriet" within the meaning of the Ar;t and was created, adopted and approved in accordance with the termS of the Act. (c) The Tax Increment District is a "redevelopment tax increment districl", 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 commenced with respect to the plan, Projecl, or Minimum Improvements. (e) The Authority has received DO 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 of which would cause the Redeveloper or the Redevelopment Property to be in violation of any local, state or federal environmental law or regulation or review procedure or" ..' which would give any person a valid claim under any of the foregoing. Section 2.2, F.~re.qentatinn~ and Warr:;\nties .bv the RedevelQper_ The Redeveloper represents and warrants that: (a) The Redcveloper is a Minnesota limited liability company duly organized and authorized to transact business in the State, is not in violation of any provisions of its articles of organization, operating agreement or member control agreement or the laws of the State, has power to enter into this Agreement and has duly authorized the execution, delivery and performance of this Agreement by proper action of its governors. (b) The Redeveloper will construct the Minimum Improvements in accordance with the tenus oftbis Agreement and allloca1, stale and federal laws and regulations. (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 marlcct values required in Seclion 6,5 of this Agreemelll. . 7 Gt'd 61'01. 1.G6 Gt9 .l;I'd '3)113a '8 ^3'1a~a Gt:St l.66t-6t-d3S ---