09-10-12 Regular Meeting of La Porte City Council

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stst 2)On or before December 1of each year, during the term of this Agreement (and/or August 1 in st cases where Company has elected a September 1 valuation date for taxation purposes pursuant to TEX. TAX CODE SECTION 23.12(f)), Company agrees to c claim the exemption in 19 U.S.C. §81o(e) as it relates to the FT any, with respect to ad valorem taxes payable to the City on such FTZ Inventory, only at the percentage rate agreed to under Paragraph C of this agreement. 2.Immediately upon execution of this Agreement, the City shall iss-objection in substantially the form attached as Exhibit B, which is to be filed as part of the Companys Application for Activation of the of the Site 20 within Foreign Trade Zone No. 84 which encompasse 3.Company agrees that this Agreement is necessary for the Activati 20 to include the Complex, and such Activation is in the best interest Company of this Agreement or a determination of its invalidity w D.Miscellaneous Provisions 1.Governing Law. This Agreement will be interpreted under the laws of the Stat 2.Binding Effect. This Agreement shall extend to and be binding upon and inure hereto, and their respective legal representatives, successors and assigns. It is agreed that City Taxing Jurisdiction is a beneficiary of this Agreement and shall be ent breach. 3.Entire Agreement. This Agreement supersedes any prior understanding or oral agr between the parties with respect to the subject matter hereof and constitutes the en parties with respect to the subject matter hereof, and there are representations or warranties among the parties with respect to the subject matt forth herein or provided for herein. 4.Agreement Does Not Affect Other Rights Obligations or Agreements. This Agreement does not supersede, modify or affect any other agreement that has been or may be entered into between Com taxing jurisdiction or any other person or entity. 5.Modification of Agreement. This Agreement may be modified only by written consent of all 6.Further Assurances. The parties covenant and agree that they will execute such other are or may become necessary of convenient to effectuate and carr including specifically all payment in lieu of tax agreements souht by Users. 7.Severability. To the extent permitted by law, a holding by any court that a Agreement is invalid, illegal or unenforceable in any respect, s Agreement shall be construed as if the invalid, illegal or unenforceable provision had Agreement.