93-IDA-26 - Laserfiche WebLink

Browse Search

e . :ndustrial District Agreement - 9 subject only to judicial review 'as may be available under the Texas General Arbitration Act (Articles 224-238, Vernonls Annot- ated Revised'Civil Statutes of Texas). Costs of the arbitration shall be shared, equally by the Company and the City, provided .', that each party shall bear its oWn attorneys fees. (C)- Should the provisions of Article II of this Agreement 'become.~ imposs,ibl.e :.of '::: enforc'eme'nt ,because ,:, of '(1) the invalidity: or unenforceabilit.y of 'the Texas Property, Code (S'. B. 621, Acts of the 65th Texas Legislature,' Regular Session, 1979), or any relevant provision thereof, or (2) because of any material delay or failure t~o' act. on the: part, of the Harris County Appraisal District, then and i.n anY"oof.: such "events, all payments under this Agreement shall be 90verned by' the provisions '. of 'Article' II hereof: anything to . the (~ontrary in this' Agreement' notwithstanding. . VII'. . City shall be entitled 'to a tax lien on Company's above-described propert;.y~ all improvements. the'reon, and all, tangible personal property. t~hereon, in the .event of default in payment' of "in lieu of. taxes" . payments hereunder, 0 which shall accrue penalty and interest in like manner as delinquent taxes,'and which shall be collectible by City in t~e same manner as provided by law for delinquent taxes. .I. ."."'. VIII. C0mpany: agrees ..t.o, provide to City at Company' s expense, a survey plat and.. field note. de.scription of the land 'and improvements which: C:ompany'petitions to 'be annexed in accordance with the, provisions of' Jl.rticle II . above.. 'Such annexation tract Shall be contiguous to a' point on the existing corporate limits' of La 'Porte. In the event of failure of Company to file .either such petition, or such description, City shall have the right by notice in writing to Company to cancel a.nd terminate _,this ..1\greement.