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<br />Industrial District Agreement - 10
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<br />IX.
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<br />This Agreement' shall inure to the benefit of and be binding
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<br />upon City' and' ,Company, and upon Company I s successors and assigns,
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<br />affiliates and subsidiaries, and shall remain in force whether Company
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<br />sells,' 'assigns,' or in ~~y, ,.o1;.her maI?-ner disposes of, either voluntarily
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<br />or by, operation, of, laW" .all ,qJ;' ~ny part, of the J?r?perty belonging to
<br />it within .-:the,~ territOl;Y' ,~ere~nabove described, and the agreeme~~~
<br />herein contain,ed.. sha,ll,:!j~,e ,~h~l~" ,1::0 R~,:"p~:v:en~nts, l,un~iIJ.g ,~i 7h ~~~. land
<br />owrted'~by..Comp,any situated,:;,~~thin sa~~ terri~ory" for so long as this
<br />Agreement or any exten~ion thereof remains in force.
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<br />x.
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<br />, ~ .1 f', City enters into an: :Agree~e~t, with.. any other landowner with
<br />respect to an industrial ',~is.tr~c:t.., or..:e~,t.ers'!"int? a renewal of, any
<br />existing industrial, distric~' agre~m~nts: ~after the effective date
<br />hereof and while', th~s "Agre~me~t is in effect, which contains terms
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<br />and provisions more favorable" to", the landowner than those in this
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<br />Agreement, Company. and its assigns
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<br />shall have t.h~,
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<br />right to amend
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<br />. this ,.Agreement and City agrees to" amend same to embrace the more
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<br />'favorable terms of such agreement or renewal, agreement: provided,
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<br />":however, '..City' reserves, th~' ,right ',to enter into such agreements or
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<br />: renewal agreements wi i;:.h other landowners not covered by exi,s,ting
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<br />agreements, ,:containing, a "pe.rcentage of a~ valorem taxes more favorable
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<br />to the landowner than that contained in Paragraph II, Subparagraph 3
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<br />(2) hereo'fi and' .,Company ',and its ~ssigns shall not ,have the right to
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<br />J amend.. thi's '_ agre.ement, to eIJlQra.ce, the, .more, favorable,. ,p~r!==~ntage of ad
<br />.. . -. . I. . . ... . - _ I ... .... .... .. . . .~ ".' . . .". .L', '. .~. '=.' : It.. :. "., ... .. j" 1
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<br />.... valorem, taxes, ,contained in such agreement or renewal thereof, than
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<br />..that contained in Paragraph II, Subparagraph 3 (2) hereof.
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<br />City may
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<br />extend more favorable terms to lqndowners covered by existing contracts
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<br />only to the extent such favorable terms apply to any increase in
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<br />,value of the hereinab~ve described property, in excess of the appraised
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<br />'value of same on January 1, 1986, as described in Paragraph II, SUb-
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<br />paragraph 3 (2) hereof.
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