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e e 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 CODlpany 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 'of the controversy, then wi thin thirty (:30) days thereafter Company shall make payment to City of any additi.onal payment due hereunder based on such final valuation, together with applicable penalties, interests, and costs. B. Should Company disagree wi th any appraisal made by the independent appraiser selected by City pursuant to Article II above (which shall be given in writing to CompclnY), Company shall, within, twenty (20) days of receiving such copy, give written notice to the City of such disagreement. In the event Company does not give, such written notice of disagreement within such time period, the appraisal made by said independent appraiser shall be final and controlling for' purposes of the determination of "in lieu of taxes" p,ayments to be made under this Agreemen't. Should Company give such notice of disagreement, Company shall also submit 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 into good fai th negotiations irl an attempt to reach an agreement as to ,the market value of Company' s property for "in lieu" purposes hereunder. If, after the! expiration of thirty (30) days from the date the notice of disagreE!ment was received by City, the parties have not reached agreement a:; to such market value, the parties .agree to submit the dispute to final arbitration' as provided in subparagraph 1 of this Article VI B. Notwithstanding any such disagreement by Company, Compar~ agrees to pay to City on or before December 31 of each year durinq 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" p.:iyments which would be due hereunder on the . basis of Company's valuations rendered and/ or submi tted to City by Company hereunder" ()r the total assessment and "in lieu of taxes" thereon f.or the last preceding year, 'whichever is higher. 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 eaSEl of no agreement on this arbitrator in 10 days, the par1:ies will join in a written request that the Chief Judge c)f the U. S. District Court for the Southern District of Texas appoint the third arbitrator Tt?ho, (as the "Impartial Arbitrator") 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 prOpE!rty 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 materi~l evi~ence on that issue including 6