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<br />(A) It is duly authorized, created and existing in good standing under the laws of the <br />State and is duly qualified and authorized to carry on the governmental functions and operations <br />as contemplated by this Agreement. <br /> <br />(B) It has the power, authority and legal right to enter into and perform this <br />Agreement and the execution, delivery and performance hereof (i) has been duly authorized, (ii) <br />will not, to the best of its knowledge, violate any applicable judgment, order, law or regulation, <br />and (iii) does not constitute a default under, or result in the creation of, any lien, charge, <br />encumbrance or security interest upon any assets of such Party under any agreement or <br />instrument to which such Party is a party or by which such Party or its assets may be bound or <br />affected. <br /> <br />- <br /> <br />(C) This Agreement has been duly authorized, executed and delivered by such Party <br />and, constitutes a legal, valid and binding obligation of the such Party, enforceable in accordance <br />with its terms. <br /> <br />- <br /> <br />(D) The execution, delivery and performance of this Agreement by such Party does <br />not require the consent or approval of any person which has not been obtained. <br /> <br />- <br /> <br />ARTICLE 3 <br />THE PROJECT <br /> <br />- <br /> <br />3.1 The Proiect. The Project is intended to enhance the proposed implementation of a <br />development within the Zone as a whole, as more fully described in the Plan. <br /> <br />3.2 Project Description. The Project consists of improvements to the Shoreline of <br />Sylvan Beach Park as more fully described in the Project Agreements together with any <br />modifications, alternates or phased construction approved, in writing, by parties to the Project <br />Agreements. Project shall include all engineering, legal and other consultant fees and expenses <br />allowed by the Project Cooperation Agreement. <br /> <br />- <br /> <br />3.3 Additional Projects. This Agreement does not apply to any projects not <br />specifically defined herein unless this Agreement is amended to provide for the design and <br />construction of such additional projects. <br /> <br />ARTICLE 4 <br />DUTIES AND RESPONSIBILITIES OF THE CITY AND COUNTY <br /> <br />4.1 Responsibilities of the City. The City has entered into Project Agreements with <br />the State through the GLO in regard to the final design, bidding and construction funding of the <br /> <br />Page 4 of 11 <br /> <br />- <br />