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HomeMy WebLinkAbout2000-IDA-82 EXHIBIT_"B" to AGENDA REQUEST FORM Industrial District Agreement MAY-l0-2007 THU 11:48 AM FAX NO. P. 02 NO. 2000-IDA-~ I S STATE OF TEXAS I i COUNTY OF HARRIS i ZNDUSTRIAL DISTRZCT ASI~ This AGRBEMENT made and entered into by and between the CITY OF LA J?ORTE, TEXAS, a municipal cor12oratiQn of lIa is couy.ty '.1 l'exas, hereinafter oalled .CITY.', and CAP pt, ~ ;':';1) Vc.{~lhO-/Are~tJ;.v;( Ii{ Lo~ , ate)(PJ' corporat1on, here na ter ' called .COMPANY", WIT N E SSE T H: WHEREAS, it is the established policy of the City Council of the city of La Porte, Texas, to adopt such reasonable measures from time to time as are permitted by law and which will tend to enhance the economic stability and growth of the city and its environs by attracting the location of new and the expansion of existing industries therein, and such pollcy is hereby reaffirmed and adopted by this City Council as being in the best interest of the city and ita citizens; and WHEREAS, pursuant to its policy, city has enacted Ordinance No. 729, designating portions of the area located in its extraterritorial juriSdiction as the ftBattleground Industrial Dist~ict of La Porte, Texas., and Ordinance No. B4~A, designating portions of the area located in its extraterritorial juri$diction as the a Bayport Industrial District of La Porte, Texasp, hereinafter collectively called aDistrict-, such Ordinances being in compliance with the Municipal Annexation Act of Texas, codified as Section 42.044/ Texas Local Government Code; and WHEREASf Company is the owner of land within a designated Industrial District of the City of La. Porl:e, said land being legally described on the attached Exhibit "A. (hereinafter "Land-); and said Land being more particularly shown on a plat attached as Exhibit "B", which plat describes the ownership boundary lines; a site layout, showing all improvements, including pipelines and ~ailroads, and also showing areas of the Land previously annexed by the City of La Porte; and WHEREAS, city desires to encourage the expansion and growth of industrial plants 'N'ithin said Districts and for such purpose desires to enter into this Agreement with Company pursuant to Ordinance adopted by the city Council of said City and recorded in the official minutes of said City: NOW, THEREFORE, in consideration of the premises and the mutual agreements of the parties contained herein and pursuant to the authority granted under the Municipal Annexation Act and the Ordinances of City referred to above, City and Coltlpany hereby agree with each other as fallOW8: FINAL DRAFT. February 24, 2000 MAY-lO-200? THU 11:49 AM F A.X NO. 1'. Uj I. City covenants, agrees and guarantees that during the term of this Agreement, provided below, and subject to the terms a.nd provisions of this Agreement, said District shall oontinue to retain its extraterritorial status as an industrial district, at least to the extent that the same coverS t.he Land belonging to Company and its assigns, unless and until the status of said Land, or a portion or portions the~eof, as an industrial district may be changed pursuant to the terms of thia Agreement. Subject to the foxegoing and to the later provisions of this Agreement, city does further covenant, agree and guarantee that such industrial district, to the extent that it covers said Land lying within said District and not now within the cor?orate limits of City, shall be immune from annexation by C1ty during the term hereof (e~cept as hereinafter provided) and shall have no right to have extended to it any services by City, and that all Land, inClUding that which has been he~etofore annexed, shall not have extended to it by ordinance any rules and regulations (a) governing plats and subdivisions of land, (b) prescribing any building, electrical, plumbing or inspection code or codes, or (0) attempting to exerci~e in any manne~ whatever control over the conduct of business thereon; provided, however, any portion of Land constituting a strip of land 100' wide and contiguous to either Fairmont parkway, State Highway 225, or state Highway 146, shall be subject to the rules and regulations attached hereto as l!:xhibit .CII and made a part hereof; and provided, however, it is agreed that City soall have the right to institute or intervene in any administrative and/or jUdicial proceeding authorized by the Texas Water Code, the Texas Clean Air Act, the Texas Health & Safety Code, or othe~ federal or atate environmental laws, rules or ~egulations, to the same extent and to the same intent and effect as if a.ll Land covered by this Agreement were not subject to the Agreement. II. In the event tha.t any portion of the Land haa heretofore been annexed by City, Company agrees to render and pay full City ad valorem taxes on such annexed Land and improvements, and tangible personal property. Under the terms of the ~exas Proper~y Tax Code (S.E. 621, Acts ot the 65th Texas Legislature, Regular Session, 1979, as amended), the appraised value for tax purposes of the annexed portion of Land, improvements, and tangible personal property shall be determined by the Harris County Appraisal District. The parties hereto recognize that said APvraisal District has no authority to appraise the Land, improvements, and tangible personal property in the unannexed area for the purpose of computing the "in lieu. pa~ents hereunder. Therefore I the parties agree that the appraisal of the Land, improvements, and tangible personal property in the unannexea area shall be conduoted by City, at City'S expense, by an independent appraiser of City's seleotion. The pa:r:ties. recognize that in making such appraisal for win lieu" payment purposes, such appraiser must of necessity appraise the entire (annexed and unannexed) Land, improvements; ana tangible pe~sonal property. 2 MAY-lO-200? THU 11:49 AM FAX NO. P. U4 Nothing herein contained shall ever be interpreted as lessening the authority of the Harris County Appraisal Distriot to establish the appraised value of Landt improvements, and tangible personal property in the annexed portion, for ad valorem tax purposes. III. A. On or before April 15, 2001, and on or before each April 15th thereafter, unless an extension is granted in accordance with the Texas Property Tax Code, through and including April 15, 2007, Company shall provide City with a written description of its Land and all improvements and tangible personal property located on the Land as of the immediately preceding January 1st, stating its opinion of the property's market value, and heing sworn to by an authorited officer of the company authorized to do so, or Company's duly authori~ed agent, {the Company's "Rendition"). Company may file such Rendition on a Harris County Appraisal niatrict rendition form, or similar forill. The properties whicn the Company must render and upon which the "in lieu ofl taxes are assessed are mOJ:"e tully described in subsections 1, 2, and 3 ot subsection D, of this Paragraph III (sometimes collectively called the "Property.); p~ovided, however, pollution control equipment installed on the Land which is exempt from ad valorem taxation pu:t'suant to the provisions of Sec. 11.31 of the Texas Property Tax Code is exempt from ad valorem taxation and "in lieu of taxes" hereunder. A failure by Company to file a Rendition as provided for in this paragraph, ISha.ll constitute a waiver by Company for the current tax year, of all rights of protest and appeal under the terms of this Agreement. B. As part of its rendition, Company shall furnish to City a written report of the names and addresses of all persons and entities who store any tangible personal property on the Land by bailment, lease, consignment, or other arrangement with Company <"products in storage") I and are in the possession or under the management of Company on January 1st of each Value Year, further giving a description of such products in storage. C. On or before the later of December 31, 2001, O~ 30 days from mailing of tax bill and in like manner on or before eacb December 31st thereafter, through and inCluding December 31, 2007, Company shall pay to City an amount "in lieu of taxes" on Company' S Property as of January 1st of the current calendar year (.Value Year") . D. Company agrees to render to City a.nd pay an amount II in lieu of taxes" on Company' S ~and, improvements and tangible personal property in the unannexed area equal to the sum of: 1. Fifty-three percent (53') of the amount of ad valorem taxes which would be payable to City if all of the company's Land and improvements which existed on January 1, 2001, and each January 1 thereafter of the applioable Value Year during the term of this Agreement, (excluding amounta payable pursuant to subpara.graph 2, below), had been within the corporate limits of city and appraised 3 MAY-10-2007 THU 11:49 AM FAX NO. p, 05 each year by City's independent appraiser, in accordance with the applicable provisiona of the Texas Property Tax Code; and 2. On any Substantial Increase in value of the Land, improvements, and tangible personal property (excluding inventory) dedicated to new construction, in excess of the appraised value of same on January 1, 2000, resulting from new construction (exclusive of construction in progress, which shall be exempt from taxation), for each Value Year following completion of construction in progress, an amount equal to Thirty percent (30 It) of the amount of ad valorem taxes which would be payable to City if all of said new construction had ceen within the corporate limits of City and appraised by City'S independent appraiser, in accordance with the applioable provisions of the TeXas Property Tax Code. (b) A Substantial Increase in value of the Land, improvements, and tangible personal property (excluding inventory) as used in subparagraph 2(a) above, is defined as an increase in value that is the lesser of either: (a.) i. at lea~t Five percent (St) of the total appraised value of Land and improvements, on January 1, 2000; or ii. a cumulative value of at least $3,500,000.00. For the purposes of this Agreement, multiple projects that are completed in a Value Year can be cumulated to arrive at the amount for the increase in value. (0) If existing Property values have depreciated below the Property value established on January 1, 2000, an amount equal to the amount of the depreciation will be removed from the calculation under this subparagraph 2 to restore the value to the January 1, 2000, value; and 3. ~ifty-three percent (53%) of the amount of ad valorem taxes which would he payable to City on all of the Company's tangible personal property of every description, located in an industrial district of city, including, without limitationl inventory, oil, gas, and mineral interests, items of leased equip~entl railroads, pipelines, and products in storage located on the Land, if all of said tangible personal property Which existed on January 1, 2001, and each January 1 thereafter of the applicable Value ~ear during the term of this Agreement, had been within the corporate limits of city and appraised each year hy the City'S independent appraiser, 4 MAY-lO-20D? THU 11:49 AM FAX NO. P. 06 in accordance with the applicable provisions of the Texas Property Tax Code. with the sum of 1, 2 and 3 reduced by the amount of City's ad valorem taxes on the annexed pox-tion thereof as determined by appraisal by the Harris County Appraisal nistrict. IV. This Agreement shall extend for a period beginning on the 1st day of January; 2001, and continuing thereafter until Pecember 31, 2007, unless extended for an additional period or periods of time upon mutual consent of Company and city as provided by the Munioipal ~exation Act; provided, however, that in the event this Agreement is not so extended for an additional period or perioda of time on or before August 31, 2007, the agreement of City not to annex property of Company within the Pistrict ehall terminate. In that event, City shall have the right to commence immediate annexation prooeedings as to all of Company's property covered by this Agreement, notwithstanding any of the term~ and provisions of thia Agreement. Company agrees that if the Texas Municipal Act, Section 42.044, Texas Local Government Code, is amended after January 1, 1994, or ~ny new legislation is thereafter enacted by the Legislature of the State of Te~as which imposes greater restrictions on the right of City to annex land belonging to Company or imposes further obligations on city in connection therewith after the annexation of auch land, Company will waive the right to require City to comply with any such additional restrictions or Obligations and the rights of the parties shall be then determined in accordance with the provisions of said Texas Municipa.l Annexation Act as the same existed January 1, 1994. v. This Agreement may be extended for an additional veriod or periods by agreement: between City and Company and/or :1.ts aSSigns even though it is not extended by agreement between City and all of the owners of all land within the District of which it is a part. VI. A. In the event Company elects to protest the valuation for tax purposes set on its said properties by City or by the Harris County Appraisal District for any year or years during the terms hereof, nothing in this Agreement shall preolude such protest and Company shall have the right to take all legal steps desired by it to reduce the same. Notwithstanding such protest by company, Company agrees to pay to City on or before the date therefor hereinabove provided, at least the total of (a) the total amount of ad valorem taxes on the annexed portions, plus (b) the total amount of the nin lieu of taxesft on the unannexed portions of Company's hereinabove described property which would be due to City in accordance with the 5 NAY-l0-2007 THU 11:49 AM FAX NO. P, 07 foregoing provisions of this Agreement on the basis of renditions which shall be filed by Company. When the City or Harris county Appraisal District (as the case may be) valuation on said. property of Company has been so finally determined, either as the result of final jUdgment of a court of competent jurisdiction or as the result of other final conclusion ot the controversy, then within thirty (30) days thereafter Company shall make payment to City of any additional payment due hereunder based on such final valuation, together with applicable penalties, interests, and costs. B. Should Company disagree with any appraisal ma.de by the independent appraiser selected by city pursuant to Article II above (which shall be given in writing to Company), Company shall, within twenty (20) daya of receiving such copy, give written notice to the city of such disagreement. In the event Company does not give such written notice of disa~reernent within such time periOd, the appraisal made by said 1ndependent appraiser shall be final and controlling for purposes of the determination of "in lieu of taxes' payments to be made under this Agreement. ShoUld Company give such notice of disagreement, Company ahall also suhmit to the City with such notice a written statement setting forth what Company believes to be the market value of Company's hereinabove described property. Both parties agree to thereupon enter int<J good faith negotiations in an attempt to reach an agreement as to the market value of Company's property for "in lieu" purposes hereunder. If, atter the expiration of thirty (30) days from the date the notice of disagreement was received by City, the parties have not ~eached agreement as to such market value, the parties agree to submit the dispute to final arbitration as provided in subparagraph 1 of thia Article VI B. Notwithstanding any suoh disagreement by Company, company agrees to pay to City on or beiore December 31 of each yea.r during the term hereof, at least the total of Ca) the ad valorem taxes on the anne~ed portions, plus (b) the total amount of the "in lieu" payments which would be due hereunder on the basis of Company's valuations rendered and/or submitted to City by company hereunder, or the total assessment and "in lieu of taxes" thereon for the last preceding year, whichever is higher. 1. A Soard of Arbitrators shall be created composed of one person named by Company, one by City, and a third to be named by those two. In case of no agreement on this arbitrator in 10 days, the parties will join in a written request that the Chief Judge of the U.S. District Court for the Southern District of Texas appoint the t.hird arbitrator who, (as the -Impartial Arbitrator") shall preside over the arbitration proceeding. The sole issue to be determined in the arbitration shall be resolution of the differenoe between the parties as to the fair market value of company's property for calculation of the "in lieuw payment and total payment hereunder for the year in queation. The Board snaIl hear and consider all relevant and material evidence on that issue inclUding 6 MAY-lO-20D? THU 11:50 AM FAX NO, P. UB expert opinion, and shall render its written decision as promptly as practicable. That decision shall then be final and binding upon the }j)arties, subject only to judicial review as may be available under the Texas General Arbitration Act (Chapter 171, nGeneral Arbitrationu, Texas civil Practice and Remedies Code). Coats of the arbitration aha11 be shared equallY by the company and the city, provided that each party shall bear its own attorneys fees. VII. City ahall be entitled to a tax lien on company's above described p:r::operty, all improvements thereon, and all tangible personal property thereon, in the event of default in payment of "in lieu of taxes- payments hereunder, which shall accrue penalty and interest in like manner as delinquent taxes, and which shall be collectible by City in the same manner as provided by law fo~ delinquent taxes. VIII. This Ag~eement shall inure to the benefit of and be binding upon City and Company, and upon Company's successors and assigns, affiliates and subsidiaries, and shall remain in force whether Company sells, assigns, or in any other manner disposes of~ either voluntarily or by operation of law, all or any part of the property belonging to it within the territory hereinabove described, and the agreements herein contained shall be held to be covenants running with the land owned by Company situated within said territory, for so long as this Agreement or a.ny extension thereof remains in force. Company shall give City written notice within ninety (90) days, with full particulars as to property assigned and identity of assignee, of any disposition of the Land, and assignment of this Agreement. :ex. If city enters into an Agreement with any other landowner with respect to an industrial district or enters into a renewal of any existing industrial district agreements after the effective date hereof and while this Agreement is in effect, which contains terms and provisions more favorable to the landowner than those in this Agreement, Company and its assigns shall have the right to amend this Agreement and City agrees to amend same to embrace the more favorable terms of such agreement or renewal agreement. x. The parties agree that this Agreement complies with e~isting laws pertaining to the SUbject and that all terms, considerations and conditions set forth herein are lawful, reasonable, appropriate, and not unduly restrictive of Company's business activities. without such agreement neither party hereto would enter into this Agreement. In the event anyone or more words, phrases, clauses, sentences; paragraphs; sections I articles or other parts of this Agreement or the application thereof to any person, firm, 7 MAY-lo-20D? THU 11:50 AM FA.X NO. p, U:1 corporation or circumstances shall be held by any court of competent Jurisdiction to be invalid or unconstitutional for any reason, then the application, invalidity or unconstitutionality of such words, pbXase, clauae, sentence, paragraph, section, article or other part of the Agreement shall be deemed to be independent of and separable from the remainder of this Agreement and the validity of the remaining parts of this Agreement shall not be affected thereby. XI. Upon the commencement of the term of this Agreement, all other previously existing industrial district agreements with respect to said Land shall terminate. ENTERED INTO effective the ~t day of J~M~~l' 2891. By; ( COMPANY) cjST' crtl4ifkP/iy By: RY OF LA POR'l'EI \~~~~ Alton E. Porter Mayor ,. By: ox W. Askins city Attorney City of La Porte P.O. Box: 1218 La Porte, TX 77572-1218 8 MAY-lO-20D7 THU 11:50 AM FAX NO, r. 1U .BXHDIT ,All (Metea and Bounds Description of Land) -"_.~".~----~~,----~"----"-_..._.__. -- FIELD NOTE DESCRIPTION OF 3.0000 ACRES (130,680 SQUARE FEET) OF LAND OUT OF RESTRICTED RESERVE IIAII, OF BAYPORT NORTH INDUSTRIAL PARK, AS RECORDED IN FILM CODE NO. 437010 OF THE HARRIS COUNTY MAP RECORDS AND ALSO BEING OUT OF THAT CERTAIN CALLED 6.9596 ACRE TRACT OF LAND DESCRIBED BY INSTRUMENT RECORDED UNDER HARRIS COUNTY CLERK'S FILE NO. 20060245720 AND LOCATED IN THE WILLIAM M. JONES SURVEY, A-482, HARRIS COUNTY, TEXAS, SAID 3.0000 ACRE TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING at a 5/8 inch iron rod found in the North right-of-way line of New Century Drive (60 feet wide), said iron rod marks the Southwest corner of that certain called 7.1526 acre tract recorded under Harris County Clerk's File No. Y680260, said iron rod also marks the Southeast corner of said called 6.9596 acre tract and the herein described tract; THENCE, South 86052'5011 West, along the right-of-way line of New Century Drive, a distance feet to a 5/8 inch iron rod set for the Southwest the herein described tract; the North of 275.17 corner of THENCE, North 03007'1011 West, a distance of 474.90 feet to a 5/8 inch iron rod set in the South right-of-way line of Fairmont Parkway (250 feet wide) for the Northwest corner of the herein described tract; THENCE, North 86052'3711 East, along the South right-of-way line of Fairmont Parkway, a distance of 275.17 feet to a 5/8 inch iron rod with cap found for the Northwest corner of said called 7.1526 acre tract recorded under Harris County Clerk's File No. Y680260, said iron rod also marks the Northeast corner of said called 6.9596 acre tract and the herein described tract; THENCE, South 03007'1011 East, along the the West line of said called 7.1526 acre tract, same being the East line of said called 6.9596 acre tract, a distance of 474.91 feet to the POINT OF BEGINNING and containing 3.0000 acres (130,680 square feet) of land, more or less. Land Surveyor No. 4314 Century Engineering, Inc. Dated this 25th day of March, 2007 CEI Job NO. 00044-50.0 (bill) SV GSL50B.T MAY-lO-20D? THU 11:50 AM ~~ WSXUIBIT BN (Attach ~lat reflecting the ownership boundary lines; a site layout, showing all improvements, including pipelines and railroads, and also showing areas at the Land previously annexed by the City of La Porte.) P. 11 'T=r-=-'I-'l'=-T- 1-1-1-/-/- 11-1:1;1-: + 111~1~1~lll };-I-I-I-I-,,. 1-1-1-1-1- II~I~I~I~I [-1-1-1-1- , I~I~I~I~I~ n I - jLA'-'f''''~- I - I ~11~lll~I~1 ~II ~ I ~ I ~ I ~ 1- =.~. ~'~~I-I-I-I, 't" ~j~I~I~I~I~ ; j 1-[-[-1-1 ~llll~I~I~1 nl-I-I-I-j- I 1-1-1-1-1-1-1-1-1-1 l;fJ ~ I ~ Il I ~ ?A I ~ I ~ I~ Il71 ~I-I-I-I-I-I-I-[-[-I-I I I~I LI-/==t/-/Lljl==tl-I '\,'l".....<!I- ". .. ~. PROPERTY UHE \ v!''' ~ I I I I j ~; ~I ) ~~ '~iI!>~ '" UNE I ~ ~ 'I,~t .. ....:.et- ~ ~~ ~. ~ ,,:>" ~i'!>" '\.....'b ~e ...~,,, PftllPEIllY ONE ,<I-. .' .. )f ALL COH5lRUC11OH tESTORE E:\osnNG FAClUTY (I.f. ." QcS'llNG SITE CCNO<<lOHS .fIIp[\IJoLVES,HYDRAHTS, .. 9W..l.BfIN~ )lOED PRN:;'J1CES AHD SWU .loT ~ TO AVOID IN'( DAWAGE TO 10. u.. lJJCATE AHO PROJIOE THE 'ERW.s AHO EQUIPI.400. ". ilBLE FOR !W'EGUl.RDlNG AND 'WENT S'I'OftED OH THE JOBSlTE. iBLE fOR lHE 5lt)fU,G[ OF 11 .. ~ 10 PREYENT IJ. IGHOURS.UNTll...P~ ,.. ". t< 11. lG UTlUnES AT ALL -poN13 Of f~ ;TS EXIST ElEFORE COUt.lENClNG II. SiGH ENCilN€ER AT 0ffCE OF WhEN CEHI'ER ~ EHfRCY Pft UNE ~ IRE. HC1J' ~~:i"~l~~~~~Ct.~r.oll IlEllINS. =~~m:1N-:IN~HTmt~NCH~~AC~ ALL EJCCA\IAlIllN MUST ar: ACCOWPI..I5Hetl IJSlNG HQN-WEOio*HlZEO EXC,l,VAl1OH PRCICfl)URES, M1EH CEtftER pat(J' DllftCr I"ACllnES NlE EXPOSED, stJFJ:lC:IEH)' SUPPORJ' .uusr BE fIflOo4lED TO THE FACIUnD. TO PRE'Y[NI' DCCESSNE S1llESS ON K PIPING. cotfTR.IrCTt1R IS FUlLY Re!POtl61Sl!; FOR >>ft [I,l,WGfS CAlJSED W HIS FA'WF/E 10 EU.Cn.'t l.DC.\1EAHD PftESO\If lHi UNbERGROUND FAClUtlES. """ 7HE lHEY ux:.< THREE: SISTERS TRUST. CALLED 7.1526 A~ES H.C.C.F. NO. 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NOTIfY 7HE _. 18. em' OF LA PORTE ENliIHEERItG OEPNmIENT :nw..L APPRCM: THE CONS1RUCTlON lAYOUT. Af'PUc.Ir8l.t CllY. COUNTY. STATE, N'fIRavALS. 'MTH ASSI5TNa FRO'" JII1JlUlm5 "~ ". " + .,$,t> ,~~ ....'i''f: i" ,~ti\(, ~ .. ~r~~ ~ ..-t\t:},- , ,'I:l~ ~ i5 ~ ~ o ,~=;~\" , ~ Z A OESIGN-BUIlD P~QJECT 8'\' I I I l~LIII I SCALE: 1"=20' I "" :'JNGHAM. DALTON' ~'/llSOH I Iol. SWR I ESlfIT. I ! l/)~ ~ I ~~u~ \(~i ES...T. . I N<a I I Z(j~ I I ~@J ~ I I 1 EXIST, ~I' sm, SWR. I ' . I I I I O~ m , I I !J~ ~ I I I ..,<e i I I <> I 0 -'" ...J 0 a... ....J ~ :u c tU .~ '" C L 0 t 0 Z ..... t tU 0 C Q >- l.. 0 (]) '" ..... C i!i ,,~(. Z '~<t;:O' I I I I I I , , . [5...' X f- ~~u~~ I I I I I II: III I I - AU. RADII ARE OlWEHS1QNED FROU TIiE BACK OF CURB. "'" OCOPTlIlGlil &Y "'RCOO 4- >Jt.lGMM-1U,UOf./,WlUON ALL RICHIS R~sah'l:D ISSUEDfOR: SITE & GEOMETRIC PLAN INTERIM REVIEW Mol ......... Par -..-.. IiIlddnIrllPII"'ll~ SHEET NUMflER E...- IA........... PF_N...... QaI." -- C-l MAY-I0-2007 THU 11:50 AM FAX NO. p, 12 .IXHIBIT en Page 1 of 2 RULlI Alm RBGULATIONS JUly portion of Land constituting a strip of land 100' wide and contiguous to either Fairmont Parkway, state Highway 225, or state Highway 146 shall be subject to the following rules and regulations pertaining to new signage, screening, driveways and median crossovers. These rules and regulations shall apply after the effective date of this Agreement when Company develops or construots improvements on vacant Land described in Exhibit l'A" which ia adjacent to Fairmont Parkway, State Highway 225, or state Highway 146. 1. Any sign erected in said 100' strip of land shall be subject to the following provisions: . One freestanding identification sign shall be permitted for each side of an industrial establishment that fronts on an improved public right-of-way. . Freestanding identification signs for single tenant buildings shall not exceed 150 square feet in area. . One freestanding identification sign for identifying multiple businesses i~ allowable at the intersection of improved pUblic rights-of-way. . Freestanding identifica.tion signs for multiple businesses shall not exceed 350 square feet. . Freestanding identification signs shall not exceed 45 feet in height. . Minimum setback for sign construction shall be ten (10) feet from property lines. 2. When Land adjacent to said 100' strip is developed, the initial 50' of said strip beyond any existing pi~eline easement contiguous to either Fairmont Parkway, State H~ghway 225, or State Highway 146 ahall be screened by one of the following techniques: a) Leaving in place existing trees, vegetation, underbrush, etc. to provide a thorough and effective visual screening of the development. Existing t~ees shall, together with other vegetation and underbrush, create a continuous viaual screen. b) The usa of earthen berme with approximately 3: 1 side slopes, 50' wide at the base and 8' high. The berms may be landscaped with a COmbination of trees, shrubs, and ground cover. All berms and landscaping will be maintained by the property owners.