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represents and warrants to the other that the Agreement is currently an effective,valid,and binding <br /> obligation. <br /> Contractor represents and warrants to City that, as of the date of this Amendment, City is <br /> 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, <br /> Contractor is not in default of any material term of the Agreement and that there have been no <br /> events that, with the passing of time or the giving of notice, or both, would constitute a material <br /> default under the Agreement. <br /> 4. Adequate Consideration. The parties hereto irrevocably stipulate and agree that <br /> they have each received adequate and independent consideration for the performance of the <br /> obligations they have undertaken pursuant to this Amendment. <br /> 5. Authority. The persons executing this Agreement on behalf of the parties hereto <br /> warrant that (i) such party is duly organized and existing, (ii) they are duly authorized to execute <br /> and deliver this Agreement on behalf of said party,(iii)by so executing this Agreement, such party <br /> is formally bound to the provisions of this Agreement, and (iv) the entering into this Agreement <br /> does not violate any provision of any other Agreement to which said party is bound. <br /> [SIGNATURES ON FOLLOWING PAGE] <br /> -2 - <br /> 01203.0006/306833.1 <br />