Laserfiche WebLink
ARTICLE II <br /> REPRESENTATIONS, COVENANTS AND WARRANTIES <br /> Section 2.1. Representations, Covenants and Warranties of the City. The City makes the <br /> following covenants, representations and warranties to the Authority as of the date of the <br /> execution and delivery of this Lease Agreement: <br /> (a) Due Organization and Existence. The City is a municipal corporation and general law <br /> city duly organized and validly existing under the laws of the State,has full legal right, power <br /> and authority under the laws of the State to enter into this Lease Agreement and the Site and <br /> Facility Lease and to carry out and consummate all transactions contemplated hereby and <br /> thereby; and by proper action the City has duly authorized the execution and delivery of this <br /> Lease Agreement and the Site and Facility Lease. <br /> (b) Due Execution. The representatives of the City executing this Lease Agreement and <br /> the Site and Facility Lease have been fully authorized to execute the same pursuant to a <br /> resolution duly adopted by the City Council of the City. <br /> (c) Valid, Binding and Enforceable Obligations. This Lease Agreement and the Site and <br /> Facility Lease have been duly authorized,executed and delivered by the City and constitute the <br /> legal, valid and binding obligations of the City enforceable against the City in accordance with <br /> their respective terms. <br /> (d) No Conflicts. The execution and delivery of this Lease Agreement and the Site and <br /> Facility Lease, the consummation of the transactions herein and therein contemplated and the <br /> fulfillment of or compliance with the terms and conditions hereof and thereof, do not and will <br /> not conflict with or constitute a violation or breach of or default(with due notice or the passage <br /> of time or both) under any applicable law or administrative rule or regulation, or any applicable <br /> court or administrative decree or order, or any indenture, mortgage, deed of trust, lease, <br /> contract or other agreement or instrument to which the City is a party or by which it or its <br /> properties are otherwise subject or bound, or result in the creation or imposition of any <br /> prohibited lien, charge or encumbrance of any nature whatsoever upon any of the property or <br /> assets of the City, which conflict, violation,breach, default,lien, charge or encumbrance would <br /> have consequences that would materially and adversely affect the consummation of the <br /> transactions contemplated by this Lease Agreement and the Site and Facility Lease, or the <br /> financial condition, assets, properties or operations of the City. <br /> (e) Consents and Approvals. No consent or approval of any trustee or holder of any <br /> indebtedness of the City or of the voters of the City, and no consent, permission, authorization, <br /> order or license of, or filing or registration with, any governmental authority is necessary in <br /> connection with the execution and delivery of this Lease Agreement and the Site and Facility <br /> Lease, or the consummation of any transaction herein or therein contemplated, except as have <br /> been obtained or made and as are in full force and effect. <br /> (f)No Litigation.There is no action,suit,proceeding,inquiry or investigation before or by <br /> any court or federal, state, municipal or other governmental authority pending or, to the <br /> knowledge of the City after reasonable investigation, threatened against or affecting the City or <br /> the assets, properties or operations of the City which, if determined adversely to the City or its <br /> interests,would have a material and adverse effect upon the consummation of the transactions <br /> contemplated by or the validity of this Lease Agreement and the Site and Facility Lease, or <br /> upon the financial condition, assets, properties or operations of the City, and the City is not in <br /> default with respect to any order or decree of any court or any order, regulation or demand of <br /> -4- <br />