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<br />I.
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<br />City covenants, agrees and guarantees that during the term of this
<br />Agreement, provided below, and subject to the terms and provisions
<br />of this Agreement, said District shall continue to retain its
<br />extraterritorial status as an industrial district, at least to the
<br />extent that the same covers the Land belonging to Company and its
<br />assigns, unless and until the status of said Land, or a portion or
<br />portions thereof, as an industrial district may be changed pursuant
<br />to the terms of this Agreement. Subject to the foregoing and to
<br />the later provisions of this Agreement, City does further covenant,
<br />agree and guarantee that such industrial district, to the extent
<br />that it covers said Land lying within said District and not now
<br />within the corporate limits of City, shall be immune from
<br />annexation by City during the term hereof (except as hereinafter
<br />provided) and shall have no right to have extended to it any
<br />services by City, and that all Land, including that which has been
<br />heretofore annexed, shall not have extended to it by ordinance any
<br />rules and regulations (a) governing plats and subdivisions of land,
<br />(b) prescribing any building, electrical, plumbing or inspection
<br />code or codes, or (c) attempting to exercise in any manner whatever
<br />control over the conduct of business thereon; provided, however, it
<br />is agreed that City shall have the right to institute or intervene
<br />in any administrative and/or judicial proceeding authorized by the
<br />Texas Water Code, the Texas Clean Air Act, the Texas Health &
<br />Safety Code, or other federal or state environmental laws, rules or
<br />regulations, to the same extent and to the same intent and effect
<br />as if all Land covered by this Agreement were not subject to the
<br />Agreement.
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<br />II.
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<br />In the event that any portion of the Land has heretofore been
<br />annexed by City, Company agrees to render and pay full City ad
<br />valorem taxes on such annexed Land and improvements, and tangible
<br />personal property.
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<br />Under the terms of the Texas Property Tax Code (S.B. 621, Acts of
<br />the 65th Texas Legislature, Regular Session, 1979, as amended), the
<br />appraised value for tax purposes of the annexed portion of Land,
<br />improvements, and tangible personal property shall be determined by
<br />the Harris County Appraisal District. The parties hereto recognize
<br />that said Appraisal District has no authority to appraise the Land,
<br />improvements, and tangible personal property in the unannexed area
<br />for the purpose of computing the "in lieu" payments hereunder.
<br />Therefore, the parties agree that the appraisal of the Land,
<br />improvements, and tangible personal property in the unannexed area
<br />shall be conducted by City, at City's expense, by an independent
<br />appraiser of City's selection. The parties recognize that in
<br />making such appraisal for "in lieu" payment purposes, such
<br />appraiser must of necessity appraise the entire (annexed and
<br />unannexed) Land, improvements, and tangible personal property.
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<br />Nothing herein contained shall ever be interpreted as lessening the
<br />authority of the Harris County Appraisal District to establish the
<br />appraised value of Land, improvements, and tangible personal
<br />property in the annexed portion, for ad valorem tax purposes.
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