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<br />e <br /> <br />e <br /> <br />Industrial District Agreement - 6 - <br /> <br />agreement, and in such event Company agrees that if the Texas <br /> <br />Municipal Act, Article 970a (V.A.T.S.), as amended after <br /> <br />January 1, 1980, or any new legislation is thereafter enacted <br /> <br />by the Legislature of the State of Texas which imposes greater <br /> <br />restrictions on the right of City to annex land belonging to <br /> <br />Company or imposes further obligations on City in connection <br /> <br />therewith after the annexation of such land, Company will waive <br /> <br />the right to require City to comply with any such additional <br /> <br />restrictions or obligations and the rights of the parties shall <br /> <br />be then determined in accordance with the provisions of said <br /> <br />Texas Municipal Annexation Act as the same existed January 1, <br /> <br />1980. <br /> <br />IV. <br /> <br />This Agreement may be extended for an additional period or <br /> <br />periods by agreement between City and Company and/or its <br /> <br />assigns even though it is not extended by agreement between <br /> <br />City and all of the owners of all land within the District of <br /> <br />which it is a part. In this connection, City hereby expresses <br /> <br />its belief that industrial district agreements of the kind made <br /> <br />herein are conducive to the development of existing and future <br /> <br />industry and are to the best interest of all citizens of City <br /> <br />and encourage future City Councils to enter into future <br /> <br />industrial district agreements and to extend for additional <br /> <br />periods permitted by law this Industrial District Agreement <br /> <br />upon request of Company or its assigns; provided, however, that <br /> <br />nothing herein contained shall be deemed to obligate either <br /> <br />party hereto to agree to an extension of this Agreement. <br /> <br />V. <br /> <br />Company agrees to pay all ad valorem taxes, and all "in <br /> <br />lieu of taxes" payments hereunder, to City on or before <br /> <br />~ <br />~cembel 31 of each year during the term hereof. It is agreed <br />rapuA~1 31 <br />