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9.2.1 Developer has all requisite authority to execute and perform its obligations under <br />the Loan Documents. <br />9.2.2 The execution and delivery of Developer of, and the performance by Developer of <br />its obligations under, each Loan Document has been authorized by all necessary <br />action and does not and will not: <br />(a) require any consent or approval not heretofore obtained of any person <br />having any interest in Developer; <br />(b) violate any provision of, or require any consent or approval not heretofore <br />obtained under, any articles of incorporation, by-laws or other governing <br />document applicable to Developer; <br />(c) result in or require the creation of any lien, claim, charge or other right of <br />others of any kind (other than under the HOME Loan Documents) on or <br />with respect to any property now or hereafter owned or leased by <br />Developer; <br />(d) violate any provision of any law presently in effect; or <br />(e) constitute a breach or default under, or permit the acceleration of <br />obligations owed under, any contract, loan agreement, lease or other <br />agreement or document to which Developer is a party or by which <br />Developer or any of its property is bound. <br />9.2.3 Developer is not in default, in any respect that is materially adverse to the <br />interests of City under the Loan Documents or that would have any material <br />adverse effect on the financial condition of Developer or the conduct of its <br />business, under any law, contract, lease or other agreement or document described <br />in sub -paragraph (d) or (e) of the previous subsection. <br />9.2.4 No approval, license, exemption or other authorization from, or filing, registration <br />or qualification with, any Governmental Authority is required which has not been <br />previously obtained in connection with: <br />(a) the execution of Developer of, and the performance by Developer of its <br />obligations under, the Loan Documents; and <br />(b) the creation of the liens described in the Loan Documents. <br />9.3 Financial and Other Information. To the best of Developer's knowledge, all financial <br />information furnished to City with respect to Developer in connection with the Loans (a) is <br />complete and correct in all material respects as of the date of preparation thereof, (b) accurately <br />presents the financial condition of Developer, and (c) has been prepared in accordance with <br />generally accepted accounting principles consistently applied or in accordance with such other <br />55C-148 <br />