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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 /> I.
<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 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 district may be changed
<br /> pursuant to 'the terms of this Agreement. Subject to the foregoing
<br /> and to tho 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 hand lying within said District and
<br /> not now within the corporate limits of city, shall be immune from
<br /> annexation by City during the terns hereof (except as hereinafter
<br /> provided) and shall have no right to have extended to it any
<br /> services by City, and that all hand, 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 subdivioions 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 eonatituting 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 /> hereofl 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 Telae
<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 Texan 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 Harris County Appraisal District. The parties
<br /> hereto recognize that said Appraiaal District has no authority to
<br /> appraise the Land, improvements, and tangible personal propert in
<br /> the unannexed area for the purpose of computing the "in ITeu"
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