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ARTICLE ONE <br /> REPRESENTATIONS AND WARRANTIES <br /> 1.01. City Representations and Warranties. The City makes the following representations as the <br /> basis for the undertakings on its part contained herein: <br /> A. The City is a municipal corporation under the laws of Minnesota. <br /> B. The City has the tight, power and authority to execute. deliver and perform its <br /> obligations undo this Agreement. The City assures the Developer that the individuals who execute <br /> this Agreement on behalf of the City are duly authorized to sign the same on behalf of the City and <br /> to bind the City thereto. <br /> 1.02. Developer Representations and Warranties. The Developer makes the following <br /> representations as the basis for the undertakings on its part contained herein: <br /> A. The Developer collectively consists of Anthony Properties Management, Inc., a <br /> Texas corporation,and Louise O'Neil,an individual. <br /> B. The Developer has the right,power and authority to execute,deliver and perform its <br /> obligations under this Agreement. The Developer assures the City that the individuals who execute <br /> this Agreement on behalf of the Developer are duly authorized to sign on behalf of the Developer <br /> and to bind the Developer thereto. <br /> C. The Developer is not in default under any lease,contract,or agreement to which it is <br /> a party or by which it is bound which would affect its performance under this Agreement. The <br /> Developer is not a party to or bound by any mortgage, lien, lease, agreement, instrument, order• <br /> judgment, or decree which would prohibit the execution or performance of this Agreement by the <br /> Developer or prohibit any of the transactions provided for in this Agreement. <br /> D. The Developer has complied with and will continue to comply with all applicable <br /> federal, state and local statutes,laws, ordinances and regulations including. without limitation, any <br /> permits, licenses and applicable zoning, environmental, or other laws, ordinances, or regulations <br /> affecting the Property or the Improvements. The Developer is not aware of any pending or <br /> threatened claim of any such violation. <br /> E. There is no suit, action, arbitration or legal, administrative or other proceeding or <br /> governmental investigation pending or threatened against or affecting the Developer or Property. <br /> The Developer is not in default with respect to any order, writ, injunction or decree of any federal, <br /> state,local or foreign court.department.agency or instrumentality. <br /> F. None of the representations and warranties made by the Developer or made in any <br /> exhibit hereto or memorandum or writing furnished or to be furnished by the Developer or on its <br /> behalf contains or will contain any untrue statement of material fact or omits any material fact, the <br /> omission of which would be misleading. <br /> O. The Developer has sufficient funds or has obtained a commitment for financing in <br /> SJR-149487 2 <br /> MU2naS <br /> 188-d ll/EO°d 9P8-1 OLE62EEZ19 N3AY89 *!i A43NN3N-wo1d wdZZ:ZO 96-EO-d35 <br />