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NOW, THEREFORE, .in consideration of the prE�m.ises 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 />I. <br />City covenants, agrees and guarantees that during the terra of this <br />Agreement, provided below, and subject to the terms and provisions <br />of this Agr'eemerat, said District shall continue to retain its <br />extraterritorial status as an industrial district, at least to the <br />extent that the same covers the sand 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 distric-may be changed <br />pursuant to the terms of this Agreement_ Subject to the foregoing <br />and to the later provisions of this Agreement, City does further <br />covenant, agree and guarantee that such i.ndustri.al district, to <br />the extent that it covers said Lana lying within said District and <br />not now within the corporates 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 all Land, including that which has been <br />heretofore annexed, shall not have extended to it by ordinance any <br />rules and, regulations (a) governing plats and subdivisions of. <br />land., (b) prescribing any building, electrical, plumbing or <br />inspection code or codes, or (c) attempting to exerr se in any <br />manner whatever control over the conduct of business thereon; <br />provided, however, any portion of sand constituting a strip of <br />land 1001 wide �and contiguous to either Fairmont Parkway, State <br />Highway 225, or State Highway 1.46, shall be subject to the rules <br />and regulations attached here -to as Exhibit ""Caa 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 Water Code, the Texas <br />Clean Air Act, the Texas Health & Safety Cade, or other federal or <br />state en-vironmenta]. laws, rules or regulations, to the same extent <br />and to the same intent and effect as if all Land covered by this <br />Agreement were not subject to the Agreement. <br />li. <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 La- d. and improvements, and tangible <br />personal property. <br />Under the terms of the Texas Property Tax Code (S.s. 621, Act$ 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 Harris County Appraisal District.. The parties <br />hereto recognize that said Appraisal District has no authority to <br />appraise the Land, improvem< ruts, and tangible personal property in <br />the unannexed area far the purpose of computing the "in lieu', <br />2 <br />