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Contractor represents and warrants to City that,as of the date of this Amendment No. 1 ,City <br /> is not in default of any material term of the Agreement and that there have been no events that,with <br /> the passing of time or the giving of notice, or both, would constitute a material default under the <br /> Agreement. <br /> City represents and warrants to Contractor that, as of the date of this Amendment No. 1, <br /> Contractor is not in default of any material term of the Agreement and that there have been no events <br /> that, with the passing of time or the giving of notice, or both, would constitute a material default <br /> under the Agreement. <br /> 4. Adequate Consideration.The parties hereto irrevocably stipulate and agree that they <br /> have each received adequate and independent consideration for the performance of the obligations <br /> they have undertaken pursuant to this Amendment No. 1. <br /> 5. Authority. The persons executing this Amendment No. 1 on behalf of the parties <br /> hereto warrant that (i) such party is duly organized and existing, (ii) they are duly authorized to <br /> execute and deliver this Amendment No. 1 on behalf of said party, (iii) by so executing this <br /> Amendment No. 1,such party is formally bound to the provisions of this Amendment No. 1,and(iv) <br /> the entering into this Amendment No. 1 does not violate any provision of any other agreement to <br /> which said party is bound. <br /> [SIGNATURES ON FOLLOWING PAGE] <br /> 01203.0006/511098.2 -2- <br />