09-07-2021 EDA Packet - Laserfiche WebLink

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7 ARTICLE II Representations and Warranties Section 2.1. Representations by the Authority. The Authority makes the following representations as the basis for the undertaking on its part herein contained: (a) The Authority is a public body corporate and politic under the laws of the State of Minnesota. Under the provisions of the Municipal Development Act and the EDA Act, the Authority has the power to enter into this Agreement and carry out its obligations hereunder. (b) The Authority proposes to assist in financing the Qualified Development Costs in accordance with the terms of this Agreement to further the objectives of the Development Program. (c) The Authority finds that the Senior Housing Units are necessary to alleviate a shortage of, and maintain existing supplies of, decent, safe, and sanitary senior housing for persons of low or moderate income and their families as such income is determined pursuant to Section 4.5. Section 2.2. Representations and Warranties by the Developer. The Developer represents and warrants that: (a) The Developer is a limited liability company, which is duly organized and in good standing under the laws of the State; the Developer is not in violation of any provisions of its bylaws or articles of incorporation; and the Developer is duly authorized to transact business within 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 respective officers, directors, managers, governors or members (as applicable). (b) The Developer will construct the Minimum Improvements and the Infrastructure Improvements and cause the Minimum Improvements to be operated and maintained in accordance with the terms of this Agreement, the Development Program and all local, State and federal laws and regulations (including, but not limited to, environmental, zoning, building code and public health laws and regulations). (c) The Developer has received no notice or communication from any local, State or federal official that the activities of the Developer or the Authority in the Project Area may be or will be in violation of any environmental law or regulation (other than those notices or communications of which the Authority is aware). The Developer is aware of no facts the existence of which would cause it to be in violation of or give any person a valid claim under any local, State or federal environmental law, regulation or review procedure. (d) The Developer will use its best efforts to obtain or cause to be obtained, in a timely manner, all required permits, licenses and approvals, and will meet, in a timely manner, all requirements of all applicable local, State and federal laws and regulations which must be obtained or met before the Minimum Improvements and the Infrastructure Improvements may be lawfully