Common use of Representations and Warranties of the EDA Clause in Contracts

Representations and Warranties of the EDA. The EDA makes the following representations and warranties: (1) The EDA is a body corporate and politic organized and existing under the laws of the State and has the power to enter into this Agreement and carry out its obligations hereunder. (2) The EDA proposes, subject to the further provisions of this Agreement and all conditions required by law, to provide certain financial assistance to the Developer for certain costs incurred in connection with the Project as further provided in this Agreement. (3) The EDA makes no representation or warranty, either express or implied, as to the Development Property or its condition, or that the Development Property shall be suitable for the Developer’s purposes or needs. (4) No member of the Board of Commissioners of the EDA, or officer of the EDA, has either a direct or indirect financial interest in this Agreement.