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<br />. ' <br /> <br />.. .e.,. <br /> <br />e <br /> <br />. <br />. . <br /> <br />.. , <br />, . .. <1'1 <br />INDUSTRIAL AGREEMENT, Page 5. <br /> <br />dollars the proper assessment that should have been placed on <br /> <br />Company's said property by Harris County for the year in question, <br /> <br />then the assessment determined by said judgment shall be used <br />for the purpose of calculating the amount to be paid City in lieu <br /> <br />of taxes in accordance with the provisions of paragraph (2) <br /> <br />above. If final judgment entered in any suit does not find said <br /> <br />assessment on Company's property to be more than twenty percent <br /> <br />(20~) less than said assessment by Harris County of comparable <br /> <br />properties within the District, then the assessment originally <br /> <br />established for that year shall be used for the purpose of <br /> <br />paragraph (2) above. The costs of any such suit, exclusive of <br /> <br />attorney's fees, shall be borne by the losing party. <br /> <br />(3) This Industrial Agreement shall extend for a term <br />beginning on the first day of January, 1966, and continuing <br /> <br />thereafter until December 31, 1972, unless extended for an <br /> <br />additional period or periods of time as provided by the Texas <br /> <br />Municipal Annexation Act upon mutual consent of the parties; <br /> <br />provided, however, that in the event this Agreement is not so <br /> <br />extended for an additional period or periods of time on or <br /> <br />before August 31, 1972, the agreement of the City not to annex <br /> <br />property of Company within the Dist~ict shall terminate. In <br />this connection, City hereby expresses its belief that such <br /> <br />industrial district agreements are conducive to development of <br /> <br />existing and future industry, are to the best interest of all <br /> <br />citizens of this City, and City hereby encourages future City <br /> <br />Commissioners to enter into future industrial agreements and to <br /> <br />extend for additional periods permitted by law this industrial <br /> <br />agreement upon the request of Company, its successors or assigns. <br /> <br />(4) This agreement shall inure to the benefit of <br /> <br />and be binding upon City and Company, its assignees, successors, <br /> <br />affiliates and subsidiaries, and shall remain in force whether <br /> <br />Company sells, assign~ or in any other manner disposes of, <br /> <br />either voluntarily or by operation of law, all or any part of the <br />