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148 ARTICLE 11 149 150 REPRESENTATIONS AND WARRANTIES 151 Section 2.1 Representations and Warranties of the City. The City makes the following 152 representations and warranties.- 153 (1) The City is a municipal corporation and has the power to enter into this 154 Agreement and carry out its obligations hereunder. 155 (2) Based on the representation of the Developer set forth in Section 3.3 below, the 156 Tax Increment District is a "housing district" within the meaning of Minnesota Statutes, Section 157 469.1 ?4, Subdivision 11, and was created,, adopted and approved in accordance with the terms of 158 the Tax Increment Act. 159 (3) The development contemplated by this Agreement is in conformance with the 160 development objectives set forth in the Development Program. 161 (4) To finance certain costs within the Tax Increment District,, the City proposes, 162 subject to the further provisions of this Agreement,, to apply Tax Increments to reimburse the 163 Developer for a portion of the costs of the construction of the Project as further provided in this 164 Agreement. 165 (5) The City is entering into this Agreement to provide assistance to a housing 166 project; consequently, the business subsidy provisions of Minnesota Statutes, Section 116J.993 167 to 11 J. 5 do not apply. 168 (6) The City makes no representation or warranty, either expressed or implied, as to 169 the Development Property or its condition or the soil conditions thereon,, or that the Development 170 Property shall be suitable for the Developer' purposes or needs. 171 Section 2.2 Representations and Warranties of the Developer. The Developer makes 172 the following representations and warranties.- 173 (1) The Developer is a Minnesota non-profit corporation, has power to enter into this 174 Agreement and to perform its obligations hereunder and, by doing so, is not in violation of any 175 provisions of its articles or bylaws or the laws of the State. 176 (2) The Developer shall cause the Project to be installed in accordance with the terms 177 of this Agreement, the Development Program, and all applicable local, state and federal laws and 178 regulations (including, but not limited to, environmental, zoning, energy conservation, building 1 179 code and public health laws and regulations). 180 (3), The construction of the Project would not be undertaken by the Developer, and in 181 the opinion of the Developer would not have been or be economically feasible within the 182 reasonably foreseeable future, without the assistance and benefit to the Developer provided for in 183 this Agreement. M95 3873204v2