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<br />and the performan e of all covemants ,and agreements of the City <br />contained in the Loan Agreeme:t'l t, the Assignment and the Bond <br />Purchase Agreement, and a~l actions required under the laws of the <br />State of Colorado to make the Loan Agreement and the Bond valid <br />and binding obli ations of th,e City in accordance with their <br />te rms , are authorized by the Act. <br /> (h) th re is no litigati6n pending or, to the best of <br />its knowledge, hreatened agcLinst the City relating to the <br />Project or to the Loan Agreement, Assignment, Bond Purchase <br />Agreement, of Trust or questioning the organization, <br />powers, or authority of the City. <br /> ( i ) t the best of its knowledge, the execution, <br />delivery and per ormance of the City's obligations under the <br />Bond, the Loan A reement, the Assignment and the Bond Purchase <br />Agreement have be n fully authorized by all requisite action and <br />do not and will ot violate any law, any order of any court or <br />other agency of g vernment, or any indenture, agreement or other <br />instrument to whi h the Ci ty is a party or by which it or any of <br />its property is ound, or be in conflict wi th, result in breach <br />of, or constitute ( wi th due not ice or lapse of time or both) a <br />default under any such indenture, agreement or other instrument. <br /> ( j ) no member of the City Council having acted upon <br /> - <br />this Ordinance in his or her official capacity: ( i) has a direct <br />or indirect inter st in the Prclj ect , Loan Agreement, Assignment, <br /> .. <br />Bond Purchase Ag Deed C:l f Trust, or Bond, (ii) owns any <br /> ; (iii) is employee of <br />interest in the roject, a partner or the <br />Borrowers, ( i v) will be involved in supervising the comple- <br />tion of the Pro ect on behalj: of the Borrowers, or ( v) will <br />receive any comm'ssion, bonus, or other remuneration for or in <br />respect to the P oject, the Lo,an Agreement, the Assignment, the <br />Bond Purchase Agr ement, the Deed of Trust, or the Bond. <br /> (k) City, pursuant to Section 9 .12 of the Loan <br />Agreement, preserves th.e option to issue, at its d iscre- <br />tion and subject to its review process, upon the request of the <br /> - 9 - <br />. -- <br /> _ ~-- .---- ------ - -~~,.~. , ~._---~. . - ---_._...._---~. .--- -- -._-.---' <br />