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e e Industrial District Agreement - 9 - the dispute to final arbitration as provided in subparagraph (1) of this Article VI(B). Notwithstanding any such disagreement by Company, Company agrees to pay to City on or before December 31 of each year during the term hereof, at least the total of (a) the ad valorem taxes on the annexed 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. (1) A Board 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 qgreement 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 third arbitrator who, (as the "Impartial Arbitratorll) shall preside over the arbitration proceeding. The sole issue to be determined in the arbitration shall be resolution of the difference between the parties as to the fair market value of Company's property for calculation of the "in lieu" payment and total payment hereunder for the year in question. The Board shall hear and consider all relevant and material evidence on that issue including expert opinion, and shall render its written decision as promptly as practicable. 'That decision shall then be final and binding upon the parties, subject only to judicial review as may be available under the Texas General Arbitration Act (Articles 224-238, Vernon's Annotated Revised Civil Statutes of Texas). Costs of the arbitration shall be shared equally by the Company and the City, provided that each party shall bear its own attorneys fees.