11-18-09 Meeting of the La Porte Redevelopment Authority Minutes

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2.1 Representatians af the ~'\l:H:8erity, The Authority Eac.h Party to this Agl'eement hereby represents on behalf of itself that: (A) It is duly autharized, created and existing in gaad standing under the laws af the State and is duly qualified and autharized to carry an the gavernmental functions and aperations as contemplated by this Agreement. (B) It has the pawer, authority and legal right to enter into and perfarm this Agreement and the executiaI4 delivery and perfarmance hereof (i) has flaw been duly authorized, (ii) will not, '113 the best af its knowledge, violate any applicable judgment, arder, law ar regulation, and (iii) daes nat constitute a default under, or result in the creation af, any lien, charge, encumbrance ar security interest upan any assets af such Party the }..mBorit), under any agreement or instrument to which such Party the f~-1ithority is a party ar by which such Party the ~A..1:ltherity or its assets may be baund or affected. (C) This Agreement has been duly autharized, executed and delivered by }..uthority such Party and, constitutes a legal, valid and binding abligatian af the enfarceable in accardance with its terms. (D) The execution, delivery and perfarmance of this Agreement by such Party the Authority daes riat require the consent ar approval af any person which has nat been abtained. 2,23 R~FeSeBtaBaB afthe 213M, The Zone hereby represelitG that: (A) The Zone is duly a<<tlienzed, created md existing t:mder tfte la:v~<8 afthe State and is d1:lly Elu&lified and authorized to 6!l!ry SR the gevetllmeBtal ftmetieas aDd epemtieas as oORtemplatea by this ~A..greemeBt. (B) The ZORe has the pawer, &athorit)' lmd legal right ta enter into aRd perform this ."..greeBi0B.t afKt l6e 6'J[6euasR, deli-leI}" aM perfermanee fiereef (i) ha';e eeeR duly 81:lthemed, (ii) '.d.-R Bet, te the Best sf its IG19'.\1eElge, yislate allY afll3lieaele jaagmeRt, emsr, law or regulatiaB, and (iii) does BOt OeBflut1:lte a default under, or result iB the ereatian of, &BY lioo, eharge, f::IReB'fBlllllBee or seettrity interest <<peB &BY assets sf the baBe 1ll'lEler ll:B)' agTeemeRt or . instnlmentto '.vmeh the Zelle is a party er by wruea tile ZeBe or its assets may be brnmd or affected, (C) This }...greemmt has been dBly aBt~d, exeellted and deli-:erea by the baRe and, eonatitutes a legal, ':alia aR6 biRd-iRg aeligation of the ZeRe, emoreeable ill aeeordaBee ',Vita its tenRs. CD) TIle exee-a.tioo, deli-lery and performaBee of this AgreemeRt by the Zone does Rot FeEll:life tee eOBseat or approval of allY pefS€lR wbiek lias Bet eeeR gemmed. 2.22.3 Reer-eset'lattiaas ofilia City. tAe Development Corporation cmd the Count>,', The City, the Dc';elopmellt Corporation. and theCouIlt)' heree.y represents that: Page 4 of 15 ..