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<br />FAX NO., e
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<br />P. 03
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<br />I.
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<br />city covenants, agrees and guarantees th2Lt during the term of this
<br />Agreement, provided below, and subject tel the terms and provisions
<br />of ,t.his Agreement, said District. shall conti~1Ue 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 port.ion or
<br />portions thereof, as an industrial distri<:t may be chang-ed pursuant
<br />to the terms of this Agreement. Subject. to the foregoing and to
<br />the later provisions of t.his 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 bave extended to it any
<br />services by city, and that all Land, incllJding that which has been
<br />heretofore annexed, shall not have extended to it by orqinance any
<br />rules and re9U~ations (a), governing plats and s~bdivisions 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,
<br />any portion of Land constituting a strip of land lOa' wide and
<br />contiguous to either Fairmont Parkway, state Highway 225, or state
<br />Highway 146, shall be subject to the rules and regulations attached
<br />hereto as Exhibit "C" and made a part ,hereof i and provided,
<br />however, it is agreed that City shall have the right to inst.itute
<br />or intervene in' any administrative arid/or jUdicial proceeding-
<br />authorized by the Texas Water Code, the Texas Clean Air Act, the
<br />Texas Health & Safety Code, or other federcll or state environmental
<br />laws, rules or regulations, to the same extent and to the same
<br />intent and effect i;lS if all Land covered b~r ~his Agreement. were not
<br />subject to the Agreement.
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<br />II.
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<br />In the event that any portion of the Lund has heretofore been
<br />annexed by city, Company agrees to render and pay full City ad
<br />valorem taxes on such annexed Lana and improvements, ana tangible
<br />personal propert.y. '
<br />
<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 propert~y 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 propert.y in the unannexed area
<br />,for 'the purpose of computing the "in liE!u" payments hereunder.
<br />Therefore, the parties agree that the clppraisal of the Land,
<br />i.mprovements, and tangible personal propert.y in the un annexed area
<br />shall be conducted by City, at. city's expense, by an independent.
<br />appraiser of City's selection. The par'ties recognize that. in
<br />making such appraisal for "in lieu" payment pqrposes, such
<br />appraiser must of necessity appraise the entire (annexed ana
<br />unannexed) Land, improvements, and tangible personal property.
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