12-18-2019 Workshop & Council Packets

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4 not limited to environmental regulations. If the City determines that the property does not comply as approved, the City may, at its option, refuse to allow any work upon the property until the Owner complies. Upon the City's demand. the Owner shall cease work until there is compliance. 8. Owner warrants and represents that the execution, delivery and performance of this Agreement, and any other documents or instruments required pursuant to this Agreement by the Owner do not, and consummation of the transactions contemplated therein and the fulfillment of the terms thereof will not, conflict with or constitute on the part of the Owner a breach of or default under any organizational document, restriction or existing agreement or instrument to which the Owner is a party or by which it may be bound, and do not and will not constitute a default under any of the foregoing or a violation of any order, decree, statute, rule or regulation of any court or of any state or federal regulatory body having jurisdiction over Owner. 9. Owner represents and warrants that there is not pendi ng, nor to the best of its knowledge is there threatened, any suit, action or proceeding against the Owner before any court, arbitrator, administrative agency or governmental authority that contemplates the liquidation or dissolution of the Owner, threatens its existence, or materially and adversely affects the validity of any of the transactions contemplated thereby, the ability of the Owner to perform its obligations hereunder, or the validity of this Agreement. OWNERS LICENSE TO ENTER 10. The parties agree and acknowledge that Owner remains the owner in fee simple of the Property subject to this Agreement, and that the City does not acquire a possessory interest in the Property by virtue of this Agreement or any permit or other instrument required by the permitted stockpiling and recycling operation.