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in Section 4.04. <br /> <br /> <br />successors exercising any of its duties and functions related to water conservation and reclamation <br />districts. <br />ARTICLE II <br />REPRESENTATIONS <br /> <br />Section 2.01 Representations of the City. The City hereby represents to Developer that: <br /> (a) This Agreement has been duly authorized, executed and delivered by the City <br />and, constitutes a legal, valid and binding obligation of the City, enforceable in accordance with its <br />terms. <br /> (b) The execution, delivery and performance of this Agreement by the City does not <br />require the consent or approval of any Person which has not been obtained. <br />Section 2.02 Representations of Developer. Developer hereby represents to the City that: <br /> (a) It is duly authorized, created and existing under the laws of the State of Texas, is <br />qualified to do business in the State of Texas and is duly qualified to do business wherever necessary <br />to carry on the operations contemplated by this Agreement. <br /> (b) It has the power, authority and legal right to enter into and perform its obligations <br />set forth in this Agreement, and the execution, delivery and performance hereof (i) have been duly <br />authorized, will not, to the best of its knowledge, violate any judgment, order, law or regulation <br />applicable to it or any provisions of its articles of incorporation and by-laws, and (ii) do not constitute <br />a default under, or result in the creation of any lien, charge, encumbrance or security interest upon any <br />of its assets under, any agreement or instrument to which it is a party or by which it or its assets may <br />be bound or affected. <br /> (c) It has sufficient capital to perform its obligations under this Agreement. <br /> (d) This Agreement has been duly authorized, executed and delivered and constitutes <br />a legal, valid and binding obligation of such entity, enforceable in accordance with its terms. <br /> (e) With respect to Developer only, the petition for the creation of a municipal utility <br />district and the petition for consent to the creation of a municipal utility district that have been <br />previously submitted to the City have been duly authorized, executed and delivered. <br />4 <br /> <br />