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5 <br /> <br />(c) AUTHORIZATION. The City Documents and the transactions contemplated <br />thereby have each been duly authorized by Owner, and when executed and delivered will <br />each constitute a valid and binding obligation of Owner, enforceable in accordance with the <br />respective terms thereof. The persons executing the City Documents on behalf of Owner <br />have been duly authorized to do so. <br />(d) NO LITIGATION OR OTHER PROCEEDING. There are no pending or to <br />Owner’s knowledge, threatened actions or proceedings before any court or administrative <br />City which may adversely affect the financial condition or operation of Owner or Owner’s <br />development of the Project and leasehold interest in the Lease or ownership of the <br />Improvements. <br /> (e) NO BANKRUPTCY. Owner is not the subject of a bankruptcy or insolvency <br />proceeding. <br />(f) COMPLIANCE WITH LAWS. Owner is in compliance in all material respects <br />with all local, state and federal laws, rules, regulations, orders and decrees which are <br />applicable to the Premises or to Owner in relation thereto (“Applicable Law”) including <br />without limitation, all environmental, health and safety and employment laws. Owner has <br />received no notice from any governmental authority regarding any threatened or pending <br />zoning, building, fire, or health code violation or violation of other governmental regulations <br />concerning the Premises that has not been corrected, and no condition under the Lease or <br />on the Premises violates any Applicable Law. <br />ARTICLE V <br />AFFIRMATIVE COVENANTS <br /> 5.1 USE OF FUNDS; CONSTRUCTION SCHEDULE. Owner covenants that it <br />shall use the Loan Proceeds and Grant Funds solely for purpose of financing the Project in <br />accordance with Section 3.1. Owner shall commence construction of the Project within 120 <br />days following the Effective Date, and shall complete construction of the Project <br />Improvements and obtain certification from the City’s Building Department in accordance <br />with Section 5.2 no later than 250 days after the Effective Date. <br /> 5.2 CONSTRUCTION PURSUANT TO PLANS; CERTIFICATION. All <br />construction related to the Project shall be undertaken pursuant to plans and specifications <br />approved by City and City. Owner agrees to place a sign (with design to be provided by <br />City) on the Premises during construction acknowledging the City’s participation. Promptly <br />after completion of the Project, Owner shall obtain certification from the City’s Building <br />Department certifying that the Improvements have been completed in accordance with this <br />Agreement. <br />5.3 USE AND MAINTENANCE OF THE PROPERTY. Owner may use the <br />Premises for any uses allowed by City’s CC Zoning designation, and Owner covenants for <br />itself and its successors and assigns that throughout the term of the Loan, the Premises <br />shall be used only for such purposes unless the City and City subsequently approve other <br />uses. <br />DocuSign Envelope ID: 85AFD7DB-51EA-45B2-9809-AAE85EE33DC4