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( ( , : SECTION 8. REPRESENTATIONS. WARRANTIES AND COVENANTS OF THE CONSORTIUM The Consortium, acting by and through the Lead Entity, hereby represents, warrants and covenants to the Participating Bank as follows: A) The Consortium, pursuant to the Consortium Agreement executed under the authority of Section 307.15 of the Ohio Revised Code, is duly organized and validly existing as a Consortium of geographically contiguous units of general local government under and for purposes of the HOME Program and has the power to perform each and every obligation contained herein. B) The Consortium is an authorized participant in HUD's HOME Program, and it is not under temporary or permanent suspension or disbarment from participation in said Program and will remain so throughout the term of this Agreement. C) This Agreement represents a valid and binding obligation of the Consortium, enforceable according to its terms, except as the same may be subject to or limited by bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws relating to or affecting the rights of creditors or by general principles of equity, including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing, and the possible unavailability of specific performance or injunctive relief, regardless of whether considered in a proceeding inequity or' at law, and the making and performance of which has been duly authorized by all necessary governmental, corporate and other action, including but not limited to, action of the Consortium and HUD, and will not constitute a violation of any law, any requirement imposed by a judicial, arbitral body or governmental entity or instrumentality, or the Consortium Agreement or By-Laws of the Consortium. D) The Consortium has made application to HUD to participate in HUD's 1994 HOME Program; said application has been granted; and the Consortium has received an allocation from HUD for fiscal year 1994, and has approved the use of a portion of such allocation for the Program, sufficient to permit the making of Consortium HOME Loans in the full amount contemplated by this Agreement. E) The Consortium, through the Lead Entity and the City, shall perform each and every act or thing necessary or desirable in order to secure the disbursement of the Committed Amount of HOME Funds by the Lead Entity and by the Participating Bank, in each case for the benefit of the applicable Eligible Borrower, in accordance with the provisions of, and during the term of, this Agreement. 8