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<br />: <br /> <br />~ <br /> <br />Industrial District Agreement - 3 <br /> <br />and guararitee that such industrial district, to the extent that it <br />4Itcovers said land lying within said District and not now within the <br />corporate limits of City or to be annexed under the provisions of <br /> <br />Article II hereof, shall be immune from annexation by City during the <br />term hereof (except as hereinafter provided) and shall have no right <br />to have extended to it any services by City, and that all of said land, <br />including that which has been heretofore or which may be annexed pur- <br />suant to the later provisions of this Agreement, shall not have extended <br />to it by ordinance any rules and regulations (a) governing plats and <br />subdivisions of land, (b) prescribing any building, electrical, plumb- <br /> <br />ing or inspection code or codes, or (c) attempting to exercise in any <br /> <br />. manner whatever control over the conduct of business thereon; provided, <br />however, it is agreed that City shall have the right to institute or <br />intervene in any judicial proceeding authorized by the Texas Water Code <br />or the Texas Clean Air Act to the same extent and to the same intent <br /> <br />and effect as if all land covered by this Agreement were located within <br />the corporate limits of City. <br /> <br />II. <br /> <br />Company has filed with City, coincident with the execution hereof, <br />its petition to City to annex 25% of the total value of the land and <br /> <br />improvements hereinabove described. Upon annexation thereof, Company <br /> <br />agrees to render and pay full City ad valorem taxes on such annexed <br />~ land and improvements. In addition, Company shall make "in lieu of <br />taxes" payments to City on the remaining 75% of the value of the land <br /> <br />and improvements thereon, in an amount equal to 25% of the amount <br /> <br />which would be payable to City 'in ad valorem.taxes if said 75% of the <br /> <br />hereinabove described property was within the corporate limits of City. <br /> <br />III. <br /> <br />City shall have the right three (3) years after the effective date <br />hereof to review and determine the value of the land and improvements <br />within the area covered by this Agreement which are then within the <br />corporate limits of City (the annexed area) and the value of the land <br />. and improvements within the area covered by this Agreement which are <br />not within the corporate limits of City (the unannexed area). If at <br /> <br />(Hevised: 8-72) <br />