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ARTICLE 2 Representations and Warranties Section 2 . 1 . By HRA. HRA makes the following representations to Redeveloper: (a) HRA is a housing and redevelopment authority duly organized and existing under the laws of Minnesota. Under the provisions of the Act, HRA has the power to enter into this Agreement and carry out its obligations hereunder. (b) The Project is a "redevelopment p.roject" within the meaning of the Act and was created, adopted and approved in accordance with the terms of the Act . (c) The Tax Increment District is a "tax increment district" within the meaning of the Tax Increment . Act and was created, adopted and approved in accordance with the terms of the Tax Increment Act . (d) The Soil Corrections constitute public redevelopment costs as defined in Minnesota Statutes , Section 469 . 033, which are permitted to be paid from Tax Increment, pursuant to Minnesota Statutes , Section 469 . 176, subdivision 4b. The HRA proposes to financially assist Redeveloper by reimbursing all or a portion of the Redeveloper ' s costs for the Soil Corrections by the issuance to the Redeveloper of the Note. (e) HRA makes no - representation or warranty that the Redevelopment Property soils or other conditions are suitable for the intended redevelopment after the Soil Corrections are completed. Section 2 . 2 . By Redeveloper . Redeveloper represents and warrants that: - (a) Redeveloper is a corporation duly organized under the laws of the State, has power to enter into this Agreement, and has duly authorized the execution, delivery and performance of this Agreement . (b) Redeveloper will, subject to Unavaoidable Delays , construct, operate and maintain the Minimum Improvements in accordance with the terms of this Agreement, the Redevelopment Plan, the Act, and all local , state and federal laws and regulations . (c) It is anticipated that the Minimum Improvements will be constructed so as to have an Gross Tax Capacity of at • least $ -5-