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202406660
<br />ARTICLE 3
<br />REPRESENTATIONS AND WARRANTIES
<br />Section 3.01 Representations and Warranties of Borrower. The Borrower represents and
<br />warrants to the Lender (which representations and warranties shall survive the making of the Loan
<br />and shall be deemed to have been remade at the time of each advance under the Loan) as follows:
<br />(a) Borrower has all requisite power and authority to conduct its businesses and
<br />to execute and deliver, and to perform all of its obligations under this Agreement and the
<br />other Loan Documents.
<br />(b) The execution, delivery and performance by Borrower of this Agreement
<br />and the other Loan Documents do not and will not (i) require any consent or approval of
<br />any other Person which Borrower has not obtained, (ii) violate any provision of any law,
<br />rule, regulation, order, writ, judgment, injunction, decree, determination or award presently
<br />in effect having applicability to Borrower, or (iii) result in a breach of or constitute a default
<br />under any indenture or loan or credit agreement or any other agreement, lease or instrument
<br />to which Borrower is a party or by which the Property may be bound or affected.
<br />(c) Borrower is not, to its knowledge, in default under any law, rule, regulation,
<br />order, writ, judgment, injunction, decree, determination or award or any indenture,
<br />agreement, lease or instrument by which it or the Project is bound.
<br />(d) There are no actions, suits or proceedings pending or, to the knowledge of
<br />Borrower, threatened against or affecting Borrower or the Project, or involving the validity
<br />or enforceability of the Loan Documents or the priority of the lien thereof, at law or in
<br />equity.
<br />(e) Borrower and all of its applicable affiliates are in compliance with, and shall
<br />continue to comply with, all of the requirements of the Contract.
<br />(0 As of the date hereof, Borrower is the fee title owner of the Property, subject
<br />to no lien, charge, restriction or encumbrance, but subject to an existing deed of trust to
<br />NebraskaLand Bank, and future deeds of trust for construction, tax increment and
<br />permanent financing of the Project.
<br />(g) The financial statements of Borrower and Guarantor previously or hereafter
<br />delivered to Lender fairly, accurately and completely present in all material respects the
<br />financial condition of Borrower and Guarantor as of the dates of such statements, including
<br />without limitation all contingent liabilities and guaranties by Borrower and Guarantor of
<br />third party obligations, and neither this Agreement nor any document, financial statement,
<br />financial or credit information, certificate or statement referred to herein or furnished to
<br />Lender by Borrower or Guarantor, contains any untrue statement of a material fact, and
<br />there has been no material deterioration in the financial condition of Borrower or Guarantor
<br />since the date of the financial statements most recently delivered to Lender.
<br />(h) To Borrower's knowledge, there is no Event of Default on the part of
<br />Borrower under the Loan Documents or default under any other material document to
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