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" e . Nothing herein contained shall ever be interpreted as lessening the authority of the Harris County Appraisal District to establish the appraised value of Land, 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 Ap~il 15th thereafter, unless an extension is granted in accordance with the Te,xasProperty Tax Code, through and i.ncluding 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 being sworn to by an authorized officer of the Company authori.zed to do so, or company's duly authorized agent, (the Company's "Rendition"). Company may file such Rendition on a Harris County APPFaisal District rendition form, or similar form. The propertiel; which the Company must render and upon which the "in lieu of" taxes are assessed are 'more fully described in subsections 1, 2, and 3 of subsection D, of this Paragraph III (sometimes collectively called the "Property") ; provided, however, pollution control equipment installed on the Land which is exempt from ad valorem taxation pursuant to the provisions of Sec. 11.~1 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, shall constitute a waiver by Company for the current tax year, of all rights of protest and appea.l 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 a,rrangement with Company ("proq.ucts in storage"), 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, or 30 days from mailinqof tax bill and in like manner on or before each 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 and. pay an amount .. in lieu of taxes" on Company' s Land, 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 ci ty ,if all of the Company's Land and improvements which existed on January 1, 2001, and each January 1 thereafter of the applicable Value Year during the term of this Agreement, (excluding amounts payable pursuant to subparagraph 2, below), had been within the corporate lim:Lts of City and appraised 3