Common use of Representations of the Developer Clause in Contracts

Representations of the Developer. The Developer makes the following representations: 1. The Developer is an individual and/or sole proprietorship, having the power to enter into this Redevelopment Contract, transact business in the state of Nebraska, and perform all obligations contained herein and by proper action has been duly authorized to execute and deliver this Redevelopment Contract. 2. The execution and delivery of the Redevelopment Contract and the consummation of the transactions therein contemplated will not conflict with or constitute a breach of or default under any bond, debenture, note or other evidence of indebtedness or any contract, loan agreement or lease to which the Developer is a party or by which it is bound, or result in the creation or imposition of any lien, charge or encumbrance of any nature upon any of the property or assets of the Developer contrary to the terms of any 3. There is no litigation pending or to the best of its knowledge threatened against the Developer affecting its ability to carry out the acquisition, construction, equipping and furnishing of the Project or the carrying into effect of this Redevelopment Contract or, except as disclosed in writing to the Agency, as to any other matter materially affecting the ability of the Developer to perform its obligations hereunder. 4. Developer has made a fiscal analysis of the project and specifically represents to the City and Agency that: (i) The Project would not be economically feasible without the use of tax-increment financing, and Developer will not undertake the Project without tax-increment financing; (ii) The Project would not occur in the Redevelopment Area and Developer will not construct the Project without the use of tax-increment financing; ARTICLE III OBLIGATIONS OF THE AGENCY