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• <br />its final Harris County ad valorem tax valuation of <br />its properties in the area for such year, taking into <br />account the then current tax rate of the City and the <br />final ad valorem tax valuation placed by Harris County <br />for that same year on the properties of each of the <br />other Industries lying within the area when related <br />proportionately to the limitation of $125,000 per year <br />in total taxes to be paid the City by the Industries <br />collectively as hereinabove provided. In the event <br />the valuation of said property of any Industry has not <br />. been made final by Harris County prior to September 1 <br /> in any year and any payment thereaf ter by such Industry <br />based on its final valuation for that year would be in <br />an amount which would cause the total taxes paid by all <br />of the Industries collectively to the City for that <br />year to exceed $125,000, then such Industry shall pa,~ <br />to the other Industries proportionately on the basis <br />hereinabove provided an amount equal to that by which <br />its tax payment for that year would exceed said total <br />$125,000 (and reduced, if necessary) in order to effect <br />a readjustment among all of the Industries of the pro- <br />portionate tax payment of each to the City for that <br />year in accordance with the formula above provided, <br />3. In the event any Industry should elect to <br />protest its Harris County tax valuation on its proper- <br />ties within the area, as fixed by the Commissioners <br />Court of Harris County for any year during the term <br />hereof, then nothing in this Agreement shall preclude <br />its protest of such valuation and its taking all legal <br />steps desired by it to defend against the same insofar <br />as Harris County is concerned. However, on or before <br />September 1 in that year or within ten days after the <br />action of the Commissioners Court of Harris County <br />-5- <br />