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ARTICLE II <br />REPRESENTATION AND UNDERTAKINGS <br />Section 2.1. By the Developer. The Developer makes the following representations and <br />undertakings: <br />(a) The Developer has the legal authority and power to enter into this Agreement and is duly <br />organized and existing general partnership under the laws of the State of Minnesota. <br />(b) The Developer will construct the Minimum Improvements in accordance with the <br />terms of this Agreement, the Program, the TIF Plan, and all local, state and <br />federal laws and regulations. <br />(c) Upon completion of the Minimum Improvements, the Developer shall operate and <br />maintain, or cause to be operated and maintained, the Minimum Improvements <br />until the Maturity Date. <br />(d) That Minimum Improvements will be permitted uses under City ordinance, and <br />will be constructed in conformity with the Program and TIF Plan, and will be <br />constructed by the Developer together with land at a minimum market value of at <br />least Six Hundred Forty Seven Thousand and 00/100's Dollars ($647,000.00). <br />(e) <br />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 environmental 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 />environmental law, regulation or review procedure. <br />(f) Subject to Unavoidable Delays, the Developer will obtain, in a timely manner, all <br />required permits, licenses and approvals, and will meet, in a timely manner, all <br />requirements of all applicable local, state and federal laws and regulations which <br />must be obtained or met before the Minimum Improvements may be lawfully <br />constructed. <br />(g) <br />Neither the execution and delivery of this Agreement, the consummation of the <br />transactions contemplated hereby, nor the fulfillment of, or compliance with, the <br />terms and conditions of this Agreement, is prevented, limited 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 instrument <br />of whatever nature to which the Developer is now a party or by which the <br />Developer is bound, or constitutes a default under any of the foregoing. <br />5 <br />