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103)
Q)
G)
4924-8886-8988, v. 12
Developer shall deliver to EDA the Purchase Price less the Deposit at the
Closing, by cashier’s check, wire transfer or certified funds;
Developer shall deliver to EDA evidence reasonably satisfactory to EDA
that Developer has been validly formed as a limited liability company and
is qualified to do business in the Commonwealth of Virginia and City of
Newport News;
Developer shall deliver to EDA the written opinion of counsel of Developer,
in form reasonably satisfactory to EDA (assuming that all signatures are
genuine, and further assuming that all documents presented to such counsel
as copies conform with the originals), stating (1) that Developer is a limited
liability company, duly formed and validly existing under the laws of the
State of Delaware and is qualified to transact business in the
Commonwealth of Virginia; (2) that Developer has the power and authority
to enter into the Development Agreement, this Contract and the Deed; (3)
that the Developer’s execution, delivery and performance of the
Development Agreement, this Contract and the Deed have been duly
authorized; (4) that the Development Agreement, this Contract and the Deed
have been duly executed and delivered by Developer, and constitute binding
obligations of Developer, enforceable in accordance with their terms, except
as enforceability may be limited by applicable bankruptcy, insolvency,
reorganizations, moratoriums or similar laws affecting the enforcement of
creditors’ rights generally and by legal and equitable limitation on the
enforceability of specific remedies;
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