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ARTICLE II REPRESENTATIONS, COVENANTS AND WARRANTIES Section 2. 1. Representations and Warranties by the Authority. The Authority represents and warrants that: (a) The Authority is a municipal corporation and political subdivision of the State organized and existing under the laws of the State. (b) The Authority has the authority to enter into this Agreement and carry out its obligations hereunder, subject to the same enforceability exceptions provided in Section 2.2 (a) with respect to the Developer. (c) The Authority represents that the City established the Development District and adopted its Development Program pursuant to the Minnesota Municipal Development District Act, previously found in Minnesota Statutes, Chapter 472A, and now codified in Minnesota Statutes, Sections 469.124 through 469. 134, and that the City established the Tax Increment Financing District within the Development District pursuant to the Tax Increment Act. The Authority also represents that pursuant to Minnesota Statutes, Section 469 .093, on March 28, 1994, the City Council adopted an enabling resolution and thereby established the Authority. Pursuant to Minnesota Statutes, Section 469.094, Subdivision 2, the City transferred to the Authority, and the Authority accepted from the City transfer of, the control, authority, and operation of the Development District, including the Tax Increment Financing District therein, thereby empowering the Authority to exercise all of the powers that the City could exercise with respect to the Development District, subject to the covenant and pledge by the Authority to perform the terms, conditions, and covenants of all bond indentures and other agreements executed for the security of any bonds issued and any other activities undertaken with respect to the Development District. (d) The Authority makes no representation, guarantee, or warranty, either express or implied, and hereby assumes no responsibility or liability as to the Development Property or its condition (whether regarding soils, pollutants, hazardous wastes or materials or otherwise) or that the Development Property will be suitable for the purposes or needs of the Developer. Section 2 .2 . Representation Covenants and Warranties by the Developer. The Developer represents, covenants, and warrants that: 334455.RED v5 to VA 9/10/9a 2-1 _ 6 d 7iLZELI99e Wi9 :80 '1S/17G:80 Q6 .11 '6fl (iud) mir .Inw rnnTU =unUJ