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<br />4.4 Conveyance of Easements. If applicable, the Developer shall grant the City and <br />the La Porte Authority all required temporary construction and access easements necessary to <br />maintain the Public Improvements. The easements granted must be satisfactory for the intended <br />purpose as determined by the City. On property owned by the La Porte Authority, the La Porte <br />Authority shall grant the Developer at no cost all required temporary construction and access <br />easements necessary to install the Public Improvements. <br /> <br />4.5 Payment of Fees. If applicable, Developer agrees to pay any monthly rates and <br />charges for water and sewer services and shall pay all applicable City building permit fees for the <br />Public Improvements. <br /> <br />4.6 Cooperation. Developer agrees that it will cooperate with the La Porte Zone and <br />the La Porte Authority and Developer will provide all necessary information to the La Porte <br />Authority and its consultants in order to assist the La Porte Authority in complying with the <br />La Porte Agreement, including, without limitation, the completion of the audit and construction <br />audit required therein. <br /> <br />4.7 Ad Valorem Taxes. The Developer agrees that all real property within the Project <br />Site will be valued for taxation in accordance with Section 23.01, Texas Tax Code and as <br />hereinafter may be amended, and that it will not request such property to be valued for taxation <br />on the basis of inventory as permitted by Section 23.12, Texas Tax Code and as hereinafter may <br />be amended. <br /> <br />4.8 Design and Completion of Public Improvements prior to Effective Date. Prior to <br />( the effective date of this Agreement, the Developer has committed and expended funds in <br />amounts for Public Improvements described in Exhibit B, in reliance upon the City's <br />commitment to establish the Zone and the La Porte Authority's commitment to payor reimburse <br />such costs in accordance with the terms herein, but no other contract has heretofore been entered <br />into by the Developer with the La Porte Authority or the La Porte Zone to provide for such <br />expenditures and reimbursement. The Developer represents that the fair market value of the <br />work and property resulting from the funds so committed or expended and benefiting the <br />La Porte Authority and the La Porte Zone is at least equal to the amounts so committed and <br />expended, respectively. In order to compromise and settle all claims the Developer may have <br />arising out of any failure by the La Porte Authority and La Porte Zone to reimburse funds <br />heretofore expended by the Developer for such Public Improvements, by entering into this <br />Agreement, <br /> <br />(A) the La Porte Authority and the La Porte Zone agree to reimburse the <br />Developer for Project Costs of such Public Improvements paid or incurred prior to the <br />date hereof in a total amount of committed funds specified in Exhibit B plus fmancing <br />costs and/or interest as set forth in Section 6.1 below, attributable thereto in accordance <br />with and subject to the other provisions hereof, without admitting liability of any kind on <br />their part, and <br /> <br />(B) the Developer releases and discharges the La Porte Authority and the <br />La Porte Zone from all claims of any nature the Developer might make, now or in the <br />future, arising out of any failure by the La Porte Authority and La Porte Zone to payor <br /> <br />7 <br /> <br />HOU:2322718.7 <br />