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NOW, THEREFORE, in consideration of the premises and the
<br />mutual agreements of the parties contained herein and pursuant to
<br />the authority granted under the Municipal Annexation Act and the
<br />Ordinances of City referred to above, City and Company hereby
<br />agree with each other as follows:
<br />L.
<br />City covenants, agrees and guarantees that during the tex-m of this
<br />Agreemez~.t, provided below, and subject to the terms anal provisions
<br />of this Agreement; said District shall continue to retain its
<br />extraterritor~.aJ. 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 />pnrtians thereof, as an industrial distract 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 industrial. 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 froth
<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 all Land, including that which has been
<br />heretofore annexed, shall. hat have extended to it by ordinance any
<br />rules and regulations {a) governing plats and subdivisions of
<br />land, (b) prescribizzg any building, electrical,. pl.utnbing or
<br />inspection code or caries, ar {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 -100' wide and contiguous to either Fairmont Parkway,' State
<br />Highway 225, or State I3ighway 1~6, shall be subject to the rules
<br />and regulations attached hereto as Exhibit "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 authorized by the Texas T~ater Code, the Texas
<br />Clean Air Act, the Texas Health & Safety Code, ar other federal or
<br />state environmental. laws, rules ar regulations, to the same extent
<br />and to the same intent and effect as if al.l Land covered by this
<br />Agreement were r~.ot subject to the Agreement.
<br />II.
<br />In the event that any portion of the Land has heretofore been
<br />annexed by City, Company agrees to render and. pay full 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, 621, Acts of
<br />the 65th Texas Legislature, Regular Session, 1979, as amended),
<br />the appraised value for tax purposes of the annexed portion of
<br />Land, improvements, and tangible personal property shall be
<br />determined by the ~iarris 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 computing the 'iin lieu}:
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