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...'; - e ~ \ . property in ~e annexed.part~on, for ad va~oram tax purposes. III. A. On or before April 15,' 1994, and on or before each April lSt:h thereafter, unless an extension is granted. in accordance with the Texas Property Tax Code, through and includinq April 15, 2000, 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 precedinq January 1st, stating its opinion of the Property's market value, and being sworn to by an authorized officer of the Company authorlzed to do so, or Company'ls duly authorized agen-c, (the company's "Rendition"). company may file such Rendition on a Harris County Appraisal Dis~rict rendition form, or similar .;form. ~he properties which the Company must render and upon which the "1n lieu of" taxes are assessed are more fully described in subsections 1, 2, and 3 of subsection 0, o~ this Paragraph III (sometimes collectively called the "propertyU). A failure by Company to file a.Rendition as provided for in this pa.ragraph, shall constitute a waiver ,by Company for the CU-"7ent tax year, of all rights of protest and appeal under the terms of this Agreement. . . B. As part of 1 'ts rendition 1 company shaJ.~ furnish to ci ty a written report of the nam~~ and addresses of all persons and entities who store any tangible persona:L property on the Land by bailment, lease, conSignment, or other arrangement with Company ( "products in storage II), and are in thel possess ion or under the manage~ent of Co~pany 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, 1994, or 30 days from. mailing of "tax bill and in like manner on or before each December 31st thereafter, through and including December 31,' 2000, Company shall pay to City an amount "in lieu of .taxes" on Company's Property as of January 1st of the ourrent calendar year ("Value Yearlt). D. Company agrees to render to City and pay an amount "in lieu' of taxeslt on Company I s Land, improvements and tangible personal property in the un annexed area equal to the eum of: 1. (a) Fifty percent (50%) of the amount of ad valorem. taxes which would be pay~~le to City if all of the ccmpany r S Land and improvements 'Which existed on J'anuary 1., 1994, ',January 1, 1995, and January 1., 1996, had ~een within the corporate limits of City and appraised each year by city's independent appraiser; and . 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 i'mprovements which existed on January" 1, 1.997, January 1., 1.998, January 1., 1999, and January 1, 2000, had been \lithin 'the corporate limits of City a:nd appraised each year by (b) . 3