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.' .. .- 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 an~exed portion, for ad valorem ~ax purposes. III. A. On or before April 15, -2001, and on or before each April 15th thereafter, unless an extension is grant;ed in accordance with the Texas Property Tax Code, through and i.ncluding April 15, 2007, Company shall provide city with a writte!n 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 simil~r 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 0, 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. 11.31 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 appeal ~nder 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 tanglble personal property on the Land by bailment, lease, consignment, or other arrangement with Company ("products 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 mailing of 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 currE:mt calendar year ("Value Yea~ S""Tc.C.//o uJol trt ti . A-) "A .,.TAC.,J,;"O J./,~tfc. TO ('x.,r "?trolJlS I o~.5 o~ WN1.C,../ C. _ Po f7"~Y I~ 'T'"J.~~ ~/U~ C3t~ UNIT"Pltllo/l!O -pj(Of'i''T''Y.;. D. Company agrees '1:0 render to ci't:y and. pay an amount "in lieu of taxes" on Company I s Land, improvements and tangible personal property in the unannexed area equal to the sum of: srlf.U. L. 1. Fifty-three percent (53%) of the amount. of ad valorem taxes which would be payable. to Ci ty . if all of the Company r s Land and improvement:; which existed on January 1, 2001, and each January. 1 thereafter of the applicable Value. Ye.ar during the term of t:his Agreement, (excluding amounts payable pursuant to su.bparagraph 2, below), had been within the' corporate limits of City and appraised 3 ,