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I .1 I ; From-ASKINStlllfMSTROHG. PC 28\ 471 Z{l47 . T-~B8 ?r:n F-m ~Oy-~:-Z(J5 J3:Znpm NO_ 2000-IDA-68-A ~ 9 STATE OF TEXAS ~ S COUNTY OF HARRIS ~ INDUSTRIAL DISTRICT AGRE~~_~ This AGREEMENT made and entered into by and between the CITY OF LA PORTE. TBXAS, a mu:r:icipal corporati on of Harris County, Texas, hereinu.fter called "CITY", and FIRST INDUSTRIAL TEXAS LP, a Delaware limitecl pa:r:t:lership, and FIRST INDUSTRIAL DEVELOPl'IBNT SERVICES I TNC. . a Naryland corporation, he:r.-einafter called "CONPANY" , WIT N E SSE T H: 'IitU:::REAS, it i.t:: the established policy of the City Council of the city of La Porte, Texas, to ado'Dt such reasonable measures from tilne to. time as are permitted by law and which wiD t.end to enhance the economIc stability and growth of the city and its environs by attractir_g the location of new and the expansion of existing industries therein, and such pol icy is hl;:!:reby reaffirmed and adopted by thi:J cit:y Council as being in the best interest of the City and its cit.izens; and WHEREAS, pursuant to its policy, City has enacted Ordinance No. 729, designating portions of the areCi located in its ex,traterrit.orial jurisdiction as the "Battleground Industrial District of La Porte, Texas", and Ordinance No. 8<C:1;2A, designating portions of the area located in its extraterritorial jurisdiction a~ the "Bayport Industrial District o:C t,a Porte, Texas", hereinafter collectively called "District", such Ordinances being in compliance with the Municipal Annexation Act of '!'exas, codified as Section 42 _ 044. 1~eXu.3 Local Government Code; and ~mEREAS I Company is the owner. of land within i) designated Industrial Dist rict of the City of La Porte, said land being legally described on che attached Exhibit "An (hereinafter "Land"); ;..Iod ;;aid Land beIng more particularl.y shown on a p.laL att.ached as Exhibit "B", which plat desc:ribeD the ownership boundary lines; a sit.e layout, shmoJing all i.mp:covements. including pipelines and railroads, and also showing a.rc.::lS of the IJand previously annexed by the city of La Porte; and WHEREAS, City desires to encourage the expansion and growth of industrial plants within said Districts and foT. f:luch purpose desires to ente:, into this 1'.greement with Company pursuant to Ordinance adopt~d by the City Counci.l of said City and recorded in the official minutes of said City: NOW, '!'HEREFORE, in cons idera,tion of the premises and the mutual agreements of the parties contained herei.:1. and pursuant to the authority gra.nted unde:r. the Municipal AlL"1e:<at:.on Act and the Ordinanc~s of City refcrred to above, City and Company hereby ilgree w.ith cilch other as follows: FINAL DRAE'TI February 24, 2000