IDA-353 - du Pont de Nemours, 1979 & 1965 agreements

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,.; , . e e Industrial District Agreement - 9 .e available under the Texas General Arbitration Act (Articles " 224-238, Ve'rnon's Annotated Revised Civil Statutes of Texas). Costs of the arbitration shall be shared equally by the Com- pany and the City, provided that each party shall. bear its own attorneys fees. (C) Should the provisions of Articl~ II(B) of this Agreement become impossible of enforcement because of ( 1) the inval id i ty or e unenforceability of the Texas Property Code (S.B. 621, Acts of the 65th Texas Legislature, Regular Session, 1979), or any relevant provision thereof, or (2)' because of any material delay or failure to act on the part of the Harris County Appraisal District, then and in any .of such events,. all paymepts under this Agreement shall be governed by the provisions of Artic~e II(A) hereof; anything to the contrary in this Agreement notwithstanding. VI.- City shall be entitled to a tax lien on Company's above-described property, al.l improvements thereon, and all tang ible personal prop- erty thereon, in the event of defaul t i~ payment of "in lieu of . taxes" payments hereunder, which shall accrue penal ty and interest in like manner as delinquent taxes, and which shall be collectible ~ by City in the same manner as provided by law for delinquent taxes. VII. Company agrees to prov ide to City at. Company I s expense, a survey plat and field note description of the land and improvements which Company petitions to be annexed in accordance with the provisions of Article II above. Such annexation tract shall be contiguous to a point on the existing ~orporat'e limits of La Porte. In the event .of failure of Company to file either. such petition, or such description, City shall have the right by notice in \vriting to Company to cancel ,and terminate this ^g~eement. e