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<br />Industrial District Agreement - 5
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<br />, . appraiser: ,
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<br />.with .the sum of (1) and (2) reduced by the amount of City's ad valorem
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<br />taxes on the annexed portion thereof as determined by appraisal by
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<br />the Harris County Appraisal District.
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<br />,:Nothing ,herein ,contain:ed shall ever.. be construed as in derogation
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<br />pf ..-.t~e,}~.ut~,ori..ty. ~,f .1=.~,e Ha,r,ris,: :C.aunty.. :~ppraisal' Pistr.ict te establish
<br />:_~~,~..:a~J?,1~isf7!q,.:, vfl:,~,!-Je:.::.. 9f.. l~~d,.,,,, impr~:vements, " anQ. tangible personal
<br />l:R,;r:~J?)-r:~~~.Y jA~.?:.;~h:~' }~!1n~,~~d:.:.:-. P9:r1:-~:9!l' :; ;- for :;' ad.. va lor~m:':: ,tax,':- purposes.
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<br />This Ag~'~~in~nt" shall' extend for a period beginning on the 1st
<br />d~y of January, i 987, a:~(i' cc)ntinue "therea'fter until December 31, 1993,
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<br />:; , . ~. : - . ": . . , . :.. .. ~. . .: : '. . .' . . 0" . . . . . : .......: .
<br />unless extended for an add~ tl.onal per~od or periods of time upon
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<br />mutual consent of
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<br />Company and City as provided by the Municipal
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<br />Annexation Act':'" provided, however, that in the event this Agreement
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<br />is not so extended for an additional period or periods, of time On
<br />or befor'e- A~g'U~t'-'3i': 'i993, th~L~g~e~~ent "of 'City not' to ann~'x prop~rty
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<br />-, .' :"\" . ':. . . '. . 'i. "':'1 '" . . .,. .
<br />'of Compa.ny within t.he District shall terminate.
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<br />In that event, City
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<br />shall have the right to commence immediate annexation proceedings as
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<br />to all of Company's property covered by this Agreement, notwithstanding
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<br />any of the terms and provisions of this agrement, and in such ,event
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<br />Compariy"a.gr'e'es that if the 'texas Mun!cipai Act, Article'- 970a (V. A. T. S. ) ,
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<br />as amended after January' 1, 1980, or any new legislation is thereafter
<br />enact~'d: by' the "'Le~'islat"ur'e" of the State of Texas which imposes greater
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<br />restrictions on the right of City to annex land belonging to Company
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<br />,. -...._j..... :'i.,"I" ....'\,.I'..t'...:.~t....(.". "','" "';:\~!I" ('~J _"'","
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<br />or imposes further" obligations on Cit.y in conne'ction therewith after
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<br />the ann:exa:tion of 's'uch fand, Company will waive the right to require
<br />City to 'd~~ply with' any such additional rest~ictions or obligations
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<br />and the rights 'of the parties shall be then determined in accordance
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<br />wi th t.he provisions' of
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<br />said Texas Municipal Annexation Act as the
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<br />same existed January 1, 1980.
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