12-14-20 Drainage and Flooding Committee Meeting

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between the City of Pasadena and Lyondell Chemical Company in effect until the year 2018 and that the La Porte Property can only be transferred to La Porte's exclusive ETJ upon approval by Lyondell of rescission of its Industrial District Agreement with the City of Pasadena. As such, it is agreed by the City of Pasadena that this Agreement shall be null and void, and of no effect, unless 1) Pasadena secures the written consent of Lyondell to rescission of said Industrial District Agreement and first provides evidence of such written agreement to La Porte, and 2) Lyondell provides a written commitment to La Porte indicating its willingness to enter into an Industrial District Agreement with La Porte. 9. This Agreement shall become effective and binding only after it has been approved by an ordinance of the governing body of the City of Pasadena and an ordinance of the governing body of the City of La Porte. Compliance with this paragraph shall be evidenced by certified copies of the ordinances of the City of Pasadena and the City of La Porte, approving this Agreement, with such certified copies being attached to this Agreement as Exhibit "E" hereto. This Agreement shall be executed in duplicate originals. Furthermore, both Pasadena and La Porte agree that this agreement is contingent upon, and subject to the completed and final annexation into the corporate limits of the City of Pasadena, Texas of the Pasadena Annexation Property. This agreement upon approval by ordinance of this agreement and satisfaction of the conditions contained herein of the City Council of the City of Pasadena, Texas and the City of La Porte, Texas provides full authority to Pasadena and La Porte to commence the annexation and disannexation of property as described herein. (Signature Page to follow)