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<br />e <br /> <br />e <br /> <br />Industrial District Agreement - 10 <br /> <br />IX. <br /> <br /> <br />This Agreement shall inure to the benefit of and be binding <br /> <br /> <br />upon City and Company, and upon Company's successors and assigns, <br /> <br />affiliates and subsidiaries, and shall remain in force whether Company <br /> <br /> <br />sells, assigns, or in any other manner disposes of, either voluntarily <br /> <br /> <br />or by operation of law, all or any part of the property belonging to <br /> <br /> <br />it within the territory hereinabove described, and the agreements <br /> <br />herein contained shall be held to be covenants running with the land <br /> <br /> <br />owned by Company situated within said territory, for so long as this <br /> <br /> <br />Agreement or any extension thereof remains in force. <br /> <br /> <br />X. <br /> <br />If City enters into an Agreement with any other landowner with <br /> <br /> <br />respect to an industrial district or enters into a renewal of any <br /> <br /> <br />existing industrial district agreements after the effective date <br /> <br /> <br />hereof and while this Agreement is in effect, which contains terms <br /> <br /> <br />and provisions more favorable to the landowner than those in this <br /> <br /> <br />Agreement, Company and its assigns shall have the right to amend <br /> <br /> <br />this Agreement and City agrees to amend same to embrace the more <br /> <br /> <br />favorable terms of such agreement or renewal agreement; provided, <br /> <br /> <br />however, City reserves the right to enter into such agreements or <br /> <br /> <br />renewal agreements with other landowners not covered by existing <br /> <br /> <br />agreements, containing a percentage of ad valorem taxes more favorable <br /> <br />to the landowner than that contained in Paragraph II, Subparagraph 3 <br /> <br /> <br />(2) hereof, and Company and its assigns shall ~ have the right to <br /> <br /> <br />amend this agreement to embrace the more favorable percentage of ad <br /> <br /> <br />valorem taxes contained in such agreement or renewal thereof, than <br /> <br /> <br />that contained in Paragraph II, Subparagraph 3 (2) hereof. City may <br /> <br />extend more favorable terms to lar.downers covered by existing contracts <br /> <br />only to the extent such favorable terms apply to any increase in <br /> <br /> <br />value of the hereinabove described property, in excess of the appraised <br /> <br /> <br />value of same on January 1, 1986, as described in Paragraph II, Sub- <br /> <br />paragraph 3 (2) hereof. <br />