O-1995-2034 - Laserfiche WebLink

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e e and ending December 31, 1994. The two conditions precedent to SI' s payment are: 1) that the City council of the City of LaPorte, Texas repeal or otherwise modify Ordinance 842-A, by ordinance of equal dignity, so that Southern Ionics' 60.794 acre site on Bay Park Road will be included within the boundaries of the "Bayport Industrial District No. 1 of La Port~, Texas"; and 2) that the City Council of the City of La Porte, Texas, by resolution, authorize the City Manager to execute this Receipt and Release. Subject to satisfaction of the two conditions precedent, and in consideration of SIts payment of SEVENTY-ONE THOUSAND SEVENTY- EIGHT AND 19/100 DOLLARS ($71,078.19), the receipt and sufficiency of which is acknowledged and confessed, City releases, acquits and forever discharges SI, and on behalf of City's successors and assigns, does hereby release, acquit and forever discharge SI, its successor corporations, employees, representatives, attorneys, and assigns, ~rom any and all claims for all taxes and in-lieu-of taxes, int~rest, penalties and costs that City has asserted or could assert for the period beginning January 1, 1989 and ending December 31, 1994. As further consideration for SI's payment, City warrants that it has made no assignment of its claims, or any part of them, to any other person, firm, or corporation, and that there are no current or outstanding liens in connection with or arising out of the unpaid taxes and in-lieu-of taxes made the subject of its claim. As further consideration for SIts payment, it is agreed that City will indemnify and hold harmless SI against and from any and all claims, demands, causes of action and/or judgments asserted -2-