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0 <br />NOTICE: THIS CONTRACT IS SUBJECT TO ARBITRATION UNDER <br />THE TEXAS GENERAL ARBITRATION ACT, ARTICLE 224, ET. SEQ., <br />REVISED CIVIL STATUTES OF TEXAS. <br />STATE OF TEXAS { <br />{ COPY <br />COUNTY OF HARRIS { <br />{ <br />CITY OF LA PORTE { <br />INDUSTRIAL DISTRICT AGREEMENT <br />This AGREEMENT made and entered into by and between the CITY <br />OF LA PORTE, TEXAS, a municipal corporation of Harris County, <br />Texas, hereinafter called "CITY", and BAYSHORE INDUSTRIAL, INC., a <br />Texas corporation, hereinafter called "COMPANY", <br />W I T N E S S E T H• <br />WHEREAS, it is the established policy of the City Council of <br />the City of La Porte, Texas, to adopt such reasonable measures from <br />time to time as are permitted by law and which will tend to enhance <br />the economic stability and growth of the City and its environs by <br />attracting the location of new and the expansion of existing <br />industries therein, and such policy is hereby reaffirmed and <br />adopted by this City Council as being in the best interest of the <br />City and its citizens; and <br />WHEREAS! Company is the owner of a certain tract(s) of land <br />more particularly described in the Deed Records of Harris County, <br />Texas, in the following Volume and Page references, to -wit: <br />Six tracts of land, as described on Exhibit "A" attached <br />hereto. This agreement shall be subject to the <br />additional restrictions contained in Exhibit "B" attached <br />hereto. <br />upon which tract(s) Company has either constructed an industrial <br />plant(s) or contemplates the construction of an industrial <br />plant(s); and <br />WHEREAS, pursuant to its policy, City has enacted Ordinances <br />No. 1789 and No. 98-2258, designating a portion of the area located <br />in its extraterritorial jurisdiction as the "South La Porte <br />Industrial District", hereinafter called "District", such <br />Ordinances being in compliance with Section 42.044, Texas Local <br />Government Code; and <br />WHEREAS, City desires to encourage the expansion and growth of <br />industrial plants within said District and for such purpose desires <br />to enter into this Agreement with Company pursuant to Ordinance <br />adopted by the City Council of said City and recorded in the <br />official minutes of said City: <br />NOW, THEREFORE, in consideration of the premises and the <br />mutual agreements of the parties contained herein and pursuant to <br />the authority granted under the Municipal Annexation Act and the <br />Ordinances of City referred to above, City and Company hereby agree <br />with e.� b other as follows: <br />