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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 />UJ?on City and Company, and upon Company I s successors and assigns,
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<br />a:Efi1iates and sUbsidiaries, ~nd shall remain in force whether Company
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<br />sl~lls, assigns, or in any other manner disposes of , either voluntarily
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<br />or by op~rati~n of. law, all or any part ~f the property belonging to
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<br />it within the territory hereinabove described, and the agreements
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<br />owned~y Go~P~~Y situated
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<br />b~ld to be covenants running with the
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<br />wi.thi~.. said -t:-erritory, for so long as
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<br />land
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<br />herein contained .shal1 be
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<br />this
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<br />~.greement or any extension thereof remains in force.
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<br />x.
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<br />If City enters into an Agreement with any other landowner with
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<br />r~spect ,-to :an indust,rial, district or enters into a renewal of any
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<br />E!xisting industrial district agreements after the effective date
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<br />her~9~__~n9.: wp~:le ",t~~s." A~re~~e~r lis in effect, which contains terms
<br />and provisions more favorable to the landowner than those in this
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<br />j\greement, ..Company ..,a,nd .its, ~s,signs . shall have the right to amend
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<br />ili.h:isf..!.\gr~e}l\.~p.i::J,n.;~,I;l~" qi~y . agre~s~. to. ,~~end same ,to embrace the more
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<br />favorable terms of such agreement or renewal agreement: provided,
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<br />howev~r, City reserve,s, ~he righ~. ~o_~enter into such agreements or
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<br />renewal agreements with other landowners not covered by existing
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<br />agreements, c~ntaining a pe~centage of ad valorem tax~s more favorable
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<br />to the landowner than that contained in Paragraph II, subparagraph 3
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<br />(2) hereof, and, Company and its assigns shall not have the right to
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<br />. .a,menq._~thi,s__ _~9re~~~nt. :to, .emb,race the more favorable percentage of ad
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<br />. -valorem t~xes 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 landowners 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 hereinabove described property, in excess of the appraised
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<br />.~a1ue. 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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