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FEB-02-2001 FRI 03:54 PM FAX NO. P, 07 - I . ., foregoing provisions of this Agreement on the basis of renditions whicb shall be file~ by company. When the city or Harris county Appraisal District (as the case may be) valu~tion on said property'of Company has been so finally determined, either as the result of final judgment of a court of competent jurisd,iction or as the result IJf other final conclusion of the' controversy, , then wi thin thirty (3 Cl) days thereafter company shall make payment to City of any additional payment due hereunder based on such final valuation, together with applicable penalties, interests,' and costs. B. ShOUld Company disagree with any appraisal made by the in4ependent appraiser selected by city pursuant to Article II above (whiCh shall be qiven in writing to company), Company shall, within twenty (20) days of receiving such copy, c;;rive written notice to the Ci ty of such disagreement. In the event Company does not qi ve such written notice of disagreement within such ti1l1e period, the appraisal, made by' said independent appri:liser sh~ll be final and controlling ,for purposes of the determination of "in lieu of taxes" payments to be made under this Agreement.. Should company give such notice 0; disagreement, Company shall also submit to the c;i.ty with such notice a w'ritten stat.ement settinq forth what company believes to be the market value of Company's 'herein~bove described property. Both part.ies agree to thereupon enter into good faith negotiations in an attempt to reach an agreement ,as to the market value of COInp~ny I S property for "in lieu" purposes hereunder. If, after the ,!xplration of thirty (30) days f~om the date the notice of disagreement was received by city, the parties have not reached agreement as to such market va~ue, the parties agree to submit the dispute 1:0 final arbitr~tion as .provided in subparagraph 1 of this Article VI B. Notwiths~anding 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 (p) the total amount of the "in l~eull pa~nnents which would be q.ue hereunq.er on the basis of Company I s valuations rendered and/or submitted to city by company hereunder, 01' the total assessment and nin lieu of taxes" 'thereon for the last I)recedinq year, Whichever is higher. 1. A Board of ~rbitrators shall bEl created co~posed of one pers9n named by Company, one b~' city, and' a third to be named by those two. In case of no agreement on this arbitrator in 10 days, the parti.es 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 nImpa:l:'tial Arbitratortl) shall preside over the arbitration proceeding. ~he sole issue to be determined in the arbitration shall be resolution of th~ difference between the parties as to the fair market value of Company IS propez'ty for calculation of the "in lieu." payment and total pclyment hereunder for the year in question. The Board shall hear and consider all relevant and material 'evidence on that issue including 6