O-2020-IDA-122 Duke Realty, LP - Laserfiche WebLink

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immediate annexation proceedings as to all of Company's property covered by this Agreement, notwithstanding any. of the terms `and provisions of this Agreement. Company -agrees that if: the:. Texas Local Government 'Code:, Section Chapter: ::42.044 Creation of.:. Industrial District in Extraterritorial_:Jurisdiction`or Texas.. _Local Government Code - Chapter; 43 ".Municipal Annexation" , -.is::: amended, ...or: any new legislation, is' thereafter enacted by.aYae . eg stature of the State of Texas which imposes :greater 'restrctions:'on the right: of .Gity ..:.. .On.:. to;annex,land`belonging to Company or imposes further obligations on_.City, in connection therewith after the:annexation of: such land, Company .. will waive, the: right to . re.g i re City ..to ::comply ;with.::any such additional restrictions or;6bligations and the rights.:of:the :.par;ties,shall be then determined in accordance with the provisions of said; laws, as, :the same existed on January:.l, 20,19 This Agreement,::may. . be..exte'nded: for..an. additional. .period or, periods:: ...... by agreement between :City and:, Company and%or :its assigns even though pit -is .not...extended..by. agreement .between.: City. and.. all of `the , ..... owners of all.land within: the :District..of :which it is :a :part. P In the .event: Company: elects to protest the valuation for tax. : purposeset on its- said properties by -City or -by the Harris County Appraisal District for any year or years:. -.during the terms hereofnothing in this Agreement shall preclude such protest and Company shall Piave the right to take all legal steps -desired by it::.: 4. to reduce-. the . "same ... . Notwithstanding ;.such 'protest: -by Company ,.and except as otherwise provided in Art:iole VI(B}, Company agrees:to pay to City on or before the.:date therefore hereinabova.provided,_ atAe* ast the `toast of (a) the total amount of ad::..valorem taxes :on the annexed portions , plus, ('b) the total, :ainount of the :: '1 in lieu , bf . taxes" on . the::unannexed'port ions of:Company's hereihabove described. property: which '.'would be due to:' City in accordance.' with the ;foregoing provisions'.=.of this..Agreement on...the basis:. of .:renditions.:, which shall be filed.:by:Company . When the.City or Harris':County Appraisal District ':(as ,the case -may = be} ...valuation. on.. said :property..of:::Companyhas` :been. so`- finally ..... determined, 'eithdr as the: result of final ::judgment:; of a- court of :. ..... _.. .:competent jurisdiction . or' as`the..result of other...f inal ` conclusion of the. controversy, :then within thirty (30) .days thereafter Com any. shall . make payment. to -C tY:of, . any . .additional- pa.Yent-- due ... .. ':hereunder, or °:City shall maker payment .-to:.'Company::of ::any refund . ..... . due ,- as.. the case may. be., '- bas.ed ; on such final.. valuation, :together`:'--'-. with applicable penalties, interests;: and costs B :_;:'Should Cdtnpany disagree. with any :appraisal -made by the independent appraiser selected by :City-* pursuant- to'Article: 1 above (which shall be..given in writing to Company)`, Compariy shall., 7