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• <br />• <br />Upon this tract Company has constructed an industrial plant and a portion <br />of such tract was annexed to the .City by City`s Ordinance No< P <br />to which reference is here made; and a portion of said plant and land lies <br />within the District; and <br />VITHEREAS ® City desires to encourage the expansion and growth of <br />said industrial plant of Company within said District as well as within <br />the area annexed to City by said Ordinance Noo _~ and for such <br />purpose desires to enter into this agreement with Company pursuant to <br />resolution adopted by the City Commission of said City, anal recorded in <br />the official minutes of said City <br />• NOVIT, THEREFOREa in consideration of the premises and the mutual <br />agreements of the parties herein containeda anal pursuant to the' authority <br />granted under the ~'exas Municipal Annexation Act referred to above the <br />parties hereby agree as followso <br />(1) City covenants, agrees and guarantees that during the term <br />of this agreement hereinbelow provided, said District shall continue and <br />retain its extraterritorial. status as an industrial district at least to the <br />extent that the same covers the above®described land lying therein be~ <br />longing to Company ~ and City does further covenant a agree and guarantee <br />that such industrial district to the extent. that it covers said land belong <br />. ing to Company lying within said District shall. be immune from annex <br />ation by City during the term hereof9 and that all of said land and pro- <br />perty of Company, both that heretofore annexed and that lying within said <br />District,, shall not have extended to it by ordinance any rules and regu~ <br />r~~ <br />lJ <br />