05.01 - Req for Tax Abatement-Oppidan, Public Hearing

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ARTICLE II REPRESENTATIONS AND WARRANTIES Section 2.1 Representations and Warranties of the City. The City makes the following representations and warranties: (1) The City is a municipal corporation and a political subdivision of the State and has the power to enter into this Agreement and carry out its obligations hereunder. (2) The Tax Abatement Program was created, adopted and approved in accordance with the terms of the Tax Abatement Act. (3) To help the Developer finance the costs of the Project to be undertaken by the Developer, the City proposes, subject to the further provisions of this Agreement, to pay to the Developer the Tax Abatements as further provided in this Agreement. (4) The City has made the findings required by the Tax Abatement Act for the Tax Abatement Program. Section 2.2 Representations and Warranties of the Developer. The Developer makes the following representations and warranties: (1) The Developer has the power to enter into this Agreement and to perform its obligations hereunder and is not in violation of its articles, bylaws or any local, state or federal laws. (2) The Developer is a corporation validly existing under the laws of this State and has full power and to enter into this Agreement and carry out the covenants contained herein. (3) The Developer will cause the Project to be constructed in accordance with the terms of this Agreement, the CUP Development Agreement, and all city, state and federal laws and regulations (including, but not limited to, environmental, zoning, energy conservation, building code and public health laws and regulations including the American with Disabilities Act). (4) The Developer will obtain or cause to be obtained, in a timely manner, all required permits, licenses and approvals, and will meet, in a timely manner, all requirements of all applicable city, state, and federal laws and regulations which must be obtained or met before the Project may be lawfully constructed. (5) The construction of the Project would not be undertaken by the Developer, and in the opinion of the Developer would not be economically feasible within the reasonably foreseeable future, without the assistance and benefit to the Developer provided for in this Agreement. 24105530 4