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ARTICLE II <br />REPRESENTATIONS AND WARRANTIES; DEVELOPER COVENANTS <br />Section 2.1. Representations and Warranties of the City. The City makes the <br />following representations and warranties: <br />(a) The City is a municipal corporation and has the power to enter into this <br />Agreement and carry out its obligations hereunder. <br />(b) The development contemplated by this Agreement is in conformance with <br />the development objectives set forth in the Development Program. <br />(c) The City makes no representation or warranty, either express or implied, as <br />to the Development Property or its condition or the soil conditions thereon, or that the <br />Development Property shall be suitable for the Developer's purposes or needs. <br />Section 2.2. Representations and Warranties of the Developer. The Developer <br />makes the following representations and warranties: <br />(a) The Developer is a corporation duly organized under the laws of the State. <br />(b) The Developer has power to enter into this Agreement and to perform its <br />obligations hereunder and is not in violation of the laws of the State. <br />(c) The construction of the Project would not be undertaken by the Developer, <br />and in the opinion of the Developer would not be economically feasible within the <br />reasonably foreseeable future, without the assistance and benefit to the Developer <br />provided for in this Agreement. <br />(d) Neither the execution and delivery of this Agreement, the consummation of <br />the transactions contemplated hereby, nor the fulfillment of or compliance with the terms <br />and conditions of this Agreement is prevented, limited by or conflicts with or results in a <br />breach of the terms, conditions or provision of any contractual restriction, evidence of <br />indebtedness, agreement or instrument of whatever nature to which the Developer is now <br />a party or by which it is bound, or constitutes a default under any of the foregoing. <br />(e) The Developer has caused to be undertaken, or will cause to be undertaken, <br />such environmental inspections of the Development Property as the Developer deems <br />appropriate to determine whether there is any Hazardous Substance located on, in or <br />I058683.RED <br />V5 to V4; 7/14/99 6 <br />PAGE 23 <br />