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<br />e <br /> <br />e <br /> <br />Ind'ust':['ia'l Dis'trict Agreement - 6 <br /> <br />IV. <br /> <br />This Agreement m~r be extended for an additional period or <br /> <br /> <br />periods by agreement between City and Company and/or its assigns even <br /> <br />thoug~ it, ,is, n~t .ex~e~ded .by, a.greement be1::wee~",City and all of the <br /> <br />own~rs of all land within the District of which it is a part.. In <br />"'. -:i,'~. t~:..~'~_:'.\: .to.";'''!'', '..!-'.:" ."C .::: ~. \..:.:~'.:l ..... .. ." . \.. <br /> <br />this connection, <br /> <br />~ity, .~ere?y expresses its belief that industrial <br /> <br />district agreE1ments of :the kind made herein are conducive to the <br />":':..' '.~:~"- '," ":.... .' .......:....:... " :i:.J~...... -, . 0" .....i~ .;(:':.-....~.:.. \.:_" "..... <br /> <br />development of existing and future industry and are to ,the best <br /> <br />interest of all citizens of City and encourage future City Councils <br /> <br />to enter into future industrial district agreements and to exten~ for <br />addffional 'periods permitte'd by law th'is: Industrial Distri,ct Agreement <br />upon requ'est of" Company :"'oi:-'-_: its assigns: provided, however, that <br /> <br />." ....,.,.. .' <br />nothing herein contained" shall be....deemed' to' obligate' either party <br />heretb. to "agree t.o" an . extens'ion' ::of this' Agrement~' <br /> <br />V. <br /> <br />: "Company 'agrees to pay all ad valorem' taxes'~' and all ;, in l'ieu <br /> <br />of taxes", payments hereunder, to City on or before December 31' of <br /> <br />ea'ch ye'ar during the term hereof. <br /> <br />It is agreed that presently the <br /> <br />ratio of ad valorem tax assessment used by City is one hundred percent <br /> <br />(100%) of the fair market', value' of property. <br /> <br />Any change in such <br /> <br />. .. . <br />ratio used'by City shall be reflected in any subsequent computations <br />hereunder. ' This Agr'eement shall be subject to~ aii' provisions' of l"aw <br />r'el~it.:ing to'-deterrid.nation'. of: value of land, ".improvements,'o and tangible <br /> <br />pers'onal property, for tax purposes (e.g., rendition,' assessment; <br /> <br />Harris"County:' Appraisal District review and appeal procedures, co~rt <br /> <br />appeals, etc:~') for' 'purpo'se~ of fixing' ~and determining the -':amount " of <br /> <br />'ad' valorem tax payments, and the' amount of "in lieu of 'tax" payments <br /> <br />hereunder, except as otherwise provided in Articles II and VI hereof. <br /> <br />VI. <br /> <br />" <A> <br /> <br />'In'the event Company elects to protest the valuation for <br /> <br />tax purposes set on its said properties by City or by the Harris <br />