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ARTICLE R ~ . <br />REPRESENTATION AND UNDERTAKINGS <br />Section 2.1. By the Developer.. The Developer makes the following representations and <br />w.ldertakings: <br />(a) The Developer has the legal authority and power to enter into this Agreement and <br />is duly organized and existing Minnesota Corporation under the laws of the State <br />of Muuiesota. <br />(b) The Developer will construct the Mulurium Improvements in accordance with the <br />terms of this Agreement, the Program, the TIF Plan, and all local, state ,aud <br />federal laws alid regulations. <br />(c) Upon completion of the Minimum Tinproveinents, the Developer shall operate and <br />maintain, or cause to be operated and maintained, the Minimum hmprovements <br />until the Maturity Date. <br />(d) That Minimum Improvements will be pernutted uses under City Code, and will be <br />constructed in conformity with the Program and TIF Plan, and will be constructed <br />by the Developer together with land at a Minimum Market Value of at least One <br />Million Seven Hundred Seventy-Sia Thousand and 00/100's Dollars <br />($1,776,000)., <br />(e) The .Developer has received no notice or communication from any local, state or <br />federal official that the activities of the Developer or the City in the Development <br />District may be, or will be, in violation of any envuomllental law or regulation <br />(other than those notices or communications of which the City is aware). The <br />Developer is aware of no facts; the existence of, which would cause it to be in <br />violation of or give any person a valid claim under any local, state or federal <br />enviromnental law, regulation or review procedure. <br />(f) Subject to Unavoidable Delays, the Developer will obtain, in a timely manner, all <br />required pei7nits, licenses and approvals, and will meet; in a timely manner, all <br />requirements of all applicable local, state alid federal laws and regulations which <br />must be obtained .or met before the Minimum Iuiprovernents inay be lawfully <br />constructed. <br />(g) Neither the execution and delivery of this Agreement, the consununation of the <br />transactions contemplated hereby, nor ,the fulfillment of, or compliance with, the <br />terms aiid conditions of this Agreement, is prevented, 1united by, or conflicts <br />with, or results in a breach of the terms, conditions, or provisions of any <br />partnership restriction or any evidences of indebtedness, agreement or iristi-ument <br />of whatever nature to which the Developer is now a .party or by which the <br />Developer. is bound, or constitutes a default Linder any of the foregoing. <br />-252- <br />