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, rRrt <br /> ARTICLE II <br /> REPRESENTATIONS AND WARRANTIES <br /> Section 2 .1. Representations and ,.,Warranties of the c�.t�r t <br /> The City makes the following representations and warranties <br /> (1) The City is a municipal corporation and has the power <br /> to enter into this Agreement and carry out its obligations <br /> hereunder. <br /> ( ) The Tax Increment Distract is a "redevelopment <br /> district" within the meaning of Minnesota Statutes, Section <br /> 469 .174, ubdivision 10, and was created, adopted and approved in <br /> accordance with the terms of the Tax Increment Act. <br /> (3) The development contemplated by this Agreement is in <br /> conformance with the development objectives set forth in the <br /> Development Program. <br /> (4) To finance certain costs within the Tax Increment <br /> District, the City proposes, subject to the further provisions of <br /> this Agreement, to apply Tax Increments to reimburse the <br /> Developer for the costs of the acquisition of the Development <br /> Property and certain Site Improvements incurred in connection <br /> with the Project as further provided in this Agreement. <br /> (5) The City makes no representation or warranty, either <br /> express or implied, as to the Development Property or its <br /> condition or the soil conditions thereon, or that the Development <br /> Property shall be suitable for the Developer' s purposes or needs . <br /> Section 2 .2 . Re resentat ions and Warranties of the <br /> Developer. The Developer makes the following representations and <br /> warranties. <br /> (1) The Developer has power to enter into this Agreement <br /> and to perform its obligations hereunder and is 'not in violation <br /> of the laws of the state. <br /> (2) The Developer will cause the Project to be installed in <br /> accordance with the terms of this Agreement and all local, state <br /> and federal laws and regulations (including, but not limited to, <br /> environmental, zoning, energy conservation, building code and <br /> public health laws and regulations) . <br /> (3) The construction of the Project would not be undertaken <br /> by the Developer, and in the opinion of the Developer would not <br /> be economically feasible within the reasonably foreseeable <br /> 241685.Red <br /> VS to V4; OS/20/98 6 <br />