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. (b) ..-The Project is a "redevelopment . proj:ect�" -within . <br /> the meaning ,o;f the .Act -a_nd was created, adopted 'and approved in <br /> accordance .with .the terms of the Act. <br /> (c) HRA proposes to (i) acquire the Redevelopment <br /> Property by..ne,gotiation or condemnation,.. .(ii) relocate the <br /> existing tenants.- from. t-he Redevelopment Property; and <br /> (iii) ' sell- the Redevelopment Property to.. the Redeveloper for <br /> redevelopment in accordance with the Redevelopment Plan and <br /> Proposal . <br /> (d) To finance -the activities to be undertaken -by the <br /> HRA, the HRA, proposes to -use the proceeds of Bonds . -and pledge <br /> tax increments generated by the Project Area to payment of the <br /> Bonds <br /> - (e) - HRA makes no representation or warranty that -it <br /> will - successfully acquire all of the Redevelopment Property. <br /> (f) HRA makes no representation or warranty that the <br /> Redevelopment Property- soils or other conditions are suitable <br /> for the intended redevelopment . <br /> Section 2 . 2 . By Redeveloper . Redeveloper represents <br /> and warrants that : <br /> (a.) Redeveloper is a corporation duly organized under <br /> the laws .of the State of- Minnesota, has power,- to enter into <br /> this Agreement-, and has. duly .authorized the execution, delivery <br /> and pe'rformance of this Agreement . <br /> (b) Redeveloper will construct, operate and maintain <br /> the Minimum Improvements in accordance with the terms of this <br /> Agreement, the Redevelopment Plan, the Act , and all local, <br /> state and federal laws and regulations , including, but not <br /> limited to,, energy conservation, environmental, zoning, <br /> building code and public health laws and regulations, the <br /> National Environmental Policy Act , the Minnesota Environmental <br /> Policy Act , and the Critical Areas Act of 1973 . <br /> (c) The Minimum Improvements will be constructed so <br /> as to have an Assessed Value of at least $ <br /> (d) Redeveloper has received no notice or <br /> communication from any- local ,. state or federal official that <br /> the activities of Redeveloper or HRA in the Project Area may be <br /> or will be _ in violation of any environmental. law or <br /> regulation. . Redeveloper is. aware of no facts - the existence of <br /> which would cause it to be in violation of any local, state or <br /> federal environmental l'aw, regulation or review procedure or <br /> • <br /> -6- <br />