2000-IDA-56 - Laserfiche WebLink

Browse Search

FEB-02-2001 FRI 03:55 PM , FAX NO, e ..-... I . p, 08 .. . ,/- expert opinion, and shall render its written decision as promptly as practicable. That decision shall then be final and binding ~po~ the parties, subject only to jUdicial review as may be available u~der the Texas General Arbitration Act (Chapter 171, "General Arbitration", Texas civil Prac::tice and Remedies Code). Costs of the ar~itration shall be shared equally py the Company and the city, provided that each party shall beaX"' its own attorneys fees. VII. city shall be entitled to a tax lien on Company'~ above described property, all improvements thereon, and all tangible personal property thereon, in the event of default in payment of "in lieu of taxes" payments hereunder, ~hich shall accrue penalty and interest in like manner as delinquent taxes, and which shall be collectible by City in the same manner as provided by law for delinquent taxes. VIII. This Agreement shall inure to the benefi,t of and be binding upon city and Company, and upon Company's SUccessors and assigns, affiliates and subsidiaries, and shall remain in force whether Comp~ny sells, assiqns, or in any other manner disposes of, either voluntarily or by operation of law, all or any part of the property belonging to it within the t~rritory herei.nabove described, and the agreements herein contained shall be held to be covenants running with the land owned by Company situated within said territory, for so long as this Agreement or any extension thereof remains in force. Company shall give city written llotice within ninety (90) days, with full particulars as' to property' assigned and identity of assignee, of any disposition of the Land, and assignment of this Agreement. IX. If city enters into an Aqreelllent. with cLnY other landowner wi~h respect to an industrial district or entEirs into a renewal of any existing industrial dist+ict agreements after the effective date hereof and while this Agreement is in effect, which contains terms and provisions ~ore favorable to the landowner than those in' this Agreement, Company and its assigns shall have the riqht to amend this Aq~eemen~ and City agrees to amend l$ame to embrace the more favorable terms of such agreement or renewal agreement. x. The parties agree that this Agreement complies with existinq laws pertaining to the subject and that all tl~rms, considerations and conditions set forth herein are lawful, :['easonable, appropriate, and not. unduly restrictive of Company"s business activities. Without such agreement neither party here'to would enter into this Agreement. In the'. event anyone or more words, phrases, clauses, sentences, paragraphs, sections, artioles or other parts of this Agreement or the application thereof to any person, firm, 7