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NOR, TMREFORE, 3n consideration of the premises and the
<br />mutual:: agreements of the parties contaned,heren and pursuant to
<br />the authority granted under the MunicipalAnnexation Act and the
<br />Ordinances of City referred. to above, City and Company hereby
<br />agree with each .other as follows:
<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 reAin. 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
<br />pursuant to the terms of this Agreement. Subject to the foregoing
<br />,and to the later previsions .of this Agreement, City does further
<br />covenant, agree. and :guarantee that such in.d ttr al district, to
<br />the extent that it covers said Land lying within said District and...
<br />not now 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 a1 Land; includis.g that which has been
<br />heretofore annexed, shall not have extended to .it by ordInance any
<br />rules and regulations (a) governing plate and subdivisions of
<br />land , (b;) prescribing 'any building, electrical, plumbing' or
<br />'inspection code or codes, or (c) attempting to exercise in any
<br />manner whatever control over the conduct of business thereon
<br />provided, however, any portion of Land constituting a strip of
<br />land 140, wide and contiguous to either Fairmont Parkway, State
<br />Highway -225; or state :Highway 146, shall,, be ;subject to the rules
<br />And regulations attached hereto as Exh:"[t "C'! and `made a part
<br />hereof,• and provided, however, it is agreed that City shall have
<br />the right to -institute or intervene in 'any ,administrative and/or
<br />judicial proceeding'aut'horize.d by the Texas Water Code, the Texas
<br />Clean Aar Act,. the Texas Health &Safety ,bode, or other federal or
<br />state environmental. laws, rules or regulations', to the same extent
<br />And to the same intent and, of f ect as if all Land covered; by this
<br />4 eement were not subject to the Agreement.
<br />I!,
<br />in the event that any ;portion of the band has heretofore been.
<br />annexed by City, Company agrees to render and pay frill city ad
<br />valorem taxes on such.annexed Land and improvements, and. tangible
<br />personal. property.
<br />Under the terms of the Texas Property Tax` Code (S . B . 521, Acts _of
<br />the 65th Texas Le at
<br />ure Regular Session, 1979, as amended),.
<br />the appraised value for tax purposes of the; annexed portion of
<br />Land, imgrove�ments, and tangible personal property shall be
<br />de��Brmin:ed by the Ifarris County Appraisal District. The parties
<br />hereto recognize that said Appraisal District has: no authority to
<br />appraise the Land, improvements, and tangible personal property :in
<br />%the; unannexed area.. for the purpose of eornputing the "in lieun
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