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'0 , e e Industrial District Agreement - 2 upon which tra~t(~), Company has either constructed an industri plant(s) or contemplates the construction of an industrial plant(s and WHEREAS, pursuant to its policy, City has enacted Ordinance ~ 729, designating portions of the area located in its extraterritori jurisdiction as the "Battleground Industrial District of La Port Texas," and Ordinance No. 842, designating portions of the area 1 cated in its extraterritorial jurisdiction as the "Bayport Industri District of La Porte, Texas," hereinafter collectively called "Di trict," such Ordinances being in compliance ,with the Municipal Anne ation Act of Texas, Article 970a, Vernons Annotated Revised Ci~ Statutes of Texas: and WHEREAS, City desires to encourage the expansion and growth industrial plants within said Districts and for such purpose desi! to enter into this Agreement with' Company pursuant to Resoluti adopted by the City Council of said City and recorded in the offici minutes of said City: NOW, THEREFORE, in consideration of the premises and the mutu agreements of the parties contained herein and pursuant to t authority granted under the Municipal Annexation Act and the Ordinanc of City referred to above, City and Company hereby agree with ea other as follows: 1. Ci ty covenants, agrees and guarantees that during the term this Agreement, provided below, and subject to the terms and provisic of this Agreement, said District shall continue and retain i extraterritorial status as an industrial district, at least to t extent that the same covers the land described above and belonging Company and its assigns, and unless and until the status of sa land, or a portion or portions thereof, as an industrial district n be changed pursuant to the terms of this Agreement. Subject