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<br />in acc()rdaIlce with the applicable provisions of the Texas
<br />Pro~erty Tax Code.
<br />
<br />with the sum of 1, 2 and 3 reduced by the amount of City's ad
<br />valorem taxes on the annexed . portion thereof as determined by
<br />appraisal by the Harris County Appraisal District.
<br />
<br />IV.
<br />
<br />ih.i$ Ag.reement shall extend for a period beginning on theJ.st day
<br />~,f January, 2001, and continu.ing thereafter until December 31,
<br />2.QQ7tunless extended for an additiona.l period or periods o,f time
<br />UP?ll mutual consent of Company and City as provided. by the
<br />~~cipal Annexation Act i provided, however, that in the eVent th.is
<br />f.9:r~ement is. not so extended for an additional period or periqds of
<br />time'on or before August 31, 2:0,07, t;he agreement.. of C':Lty n,o,t 1;.0
<br />aiiulex property of Company within the D,istrict shall terminate., In
<br />1UiGli1;eyent ,e'lty. shall have. the '. right to commence illlm~'4i,at,e
<br />~11iJ;1~~at~on, proceedings as to a.ll o.f company's property c'ove't"ed by
<br />t~i$;~reement, notwithstanding any of the terms and provisions of
<br />thJ.sAgreement.
<br />
<br />c'q~p'any ag;-ees that if the Te.xas Municipal Act" Section 4,2.,0'44,
<br />T~~~$',Lpc::al G:pvemment Coqe,.:is amended after Janua:cy 1, 19'9;4, or
<br />an.;.y'newleg:isla.tionis thereafter enacted by the Leg!islature. co'f.. tone
<br />~;:~\~Ero'f Texas. which imp'o:s:esg.reater res,t'rictions o.n the right. o.f
<br />~~f!.~'. . to an.neX land. .belong,ing. . to . CotnP'any orimpo.s:es f,urther.
<br />tp'l,:ig~~,~onS' ()'9- city i~. COnn,ect;o~ the~eJ~~thafter the an.nexatio]7l. C),f
<br />~Ul9i~,:l~d,companywil1 waiV' th~r~ghe, tor,equire City to c:omp]y
<br />wi-tij, any sucft additional r.e'str,ictions or obligations and the r$ghts
<br />~f1.t,:ti1~:>partie$ $Aallbe then .dete:rmined in. accordance with" the
<br />p+o'V~s.'ioIls: of ~aid Texas Municipal Annexation Ac.t:. as the' /pame
<br />~:x:isted January I, 19,9:4. / .
<br />
<br />!
<br />
<br />v.
<br />
<br />i.
<br />!hi!!l-1\gr~etnent. may be extended for an additional period or pe'riods
<br />l1Y'agre~mentl>etWeen City ~ndCompany . and/or its as:signs even
<br />tho~g,l1 ;t is. no.t ex~en~~d by. ag;:reement b.etween City and all of the
<br />oWl1ersof all'land within the District of which it is a part.
<br />
<br />VI.
<br />
<br />~,~ " ........ .~.I,1..the, even~t .C()tn~'any~l~ec::t~ . to . prC)'ses:t th.E7v~lu~tio~forta:x
<br />'!'P:~~'~~~' ..se~Pll..1:t;~s'~iqp1:o.p,ert:..:teli: ~Y(!JitY~;rbrth! a.;~:r:r1..~ gO~:nt;Y
<br />~~~f~~'~a.1D:~~trir:t,}~:r;~y yc!a;ro;r:y.e''I!~s dlJir.ingthe terms l1e:reo,f',
<br />e.9;F;]j,i~51:.i:r:l tli!~~~:r:,,~m'~r.J:t. ~~a:J.lp1iec;;udi~ su;cl?;i?r()t~$~ .~nd Cpmp~y
<br />~1il~~:~JJia:vE! .1;'.1ilE!x:1ght to: take'Ct.~l: leg,al step'. desl~ed by it to
<br />iedue$ . the' S'am. e. . .'
<br />7: .:', :-,-, ;:/'0-";' - .". - - ,.
<br />
<br />,- '.
<br />1-': ',.'
<br />~o,t~i~p.sta.nd;i1ig such p.ro.tes.t ~yc:.ompa:rtY ,. Company agrees to pay to
<br />~~!:,)"on ,o,rbe:fore the da'te therefqr' he:r~.inaD()iyep':rovidedr at least
<br />~lte' t,.9tal of. (althe total amount of act valorem taXes on the
<br />~~:i;1~~~'c:l portions I Pl.us Cbl t'he' total amc;lunt of theu i.n . 1 ieu . of,
<br />tax~~.'" on the uuannexed po'rtions of Ccirnpariy's bereinabove de'se'rib~d
<br />prope'rty which would be due to city in accordance with the
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