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Now, THEREFoRE, in consideration of the premises and the
<br />mutual agreements of. the parties contained herein and pursuaw- to
<br />the authority granted under the Municipal Annexation omAct and e
<br />ordinances of City. referred to above, City Company hery
<br />agree with each other as follows.
<br />I.
<br />City covenants, agrees and guarantees that during the term of :his
<br />Agreement, provided below, and subject to the terms and provisions
<br />of this Agreement, 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 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 distriaythbefar�ind
<br />pursuant to the term of this Agreement, subjectforegoing
<br />and to the later provisions 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 rrom
<br />annexation by City during.the test hereof (except as hereinaOter
<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 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 Highway 146, shall be subject to the rules
<br />and regulations attached hereto as Exhibit "C" and made a ,part
<br />hereof p 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 Code, or other federal or
<br />state environmental 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 />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.R. 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 Harris 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 "in lieu:,
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