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Nov-30-2005 03:Z7p~ From-AS~INS~~SiRO~G, PC Z61 471 ZW e T-968 p.OOS/OIE F-265 Nothing herein contained shall ever be interpreted as lessening the authority of the Harris County P.ppraisal DiGl.:rict to establish the appra :l.sed value of Land, improvement!:;, and tangible personal property in the annexed portion. for ad valoiem tax purposes. IlL A. On or before April lS, 2001, and on o~ before each llpril 15th thereafter, unless an extension is granted in accordance with the Texas Property Tax Code. through a.nd including April 15, 2007, Company shall provide City \.;ith a written description of its Land and all :improvements and tangible personi'll property located on the Land as of the immediately preceding January IGt, stating its opinion of the Property's market value, and b~ing sworn to by an authorized officer of the Company authorized to do so, or Company's duly authorized agent, (the Company' s nRendition"). Compc;my may file such Re:ldition on a Har:ds County Appraisal District rendition fOrrT:l. or si.rniJ.i:lr form. The properties lr,Thich the Company must render a.nd upon wh.ich the "in lieu ofn taxes arc assessed are more fully described in subsect ions 1, 2. a.nd 3 of subsection D J of this Paragraph III {sometimes collectively called the nproperty"}; prov:..ded, however, pollution control equipment installed on the Land which is exempt from ad valorem taxation pursuant to the provisionl3 of Sec. 11.31 of the l'exas Property Tax Code j.s exempt from ad valorem taxation a.nti .. in lieu of taxes" herelJudcT. A failure by Compa.ny to file 4:l Rendition a.t;; provided fO'.r: in this paragraph, sh.all constitute <.l waiver by Company for t11,e current tax year, of all rights of protest and appeal under the te:cms of this Agreement. B. AS part of its rendition, Company sball furnish to City a written report of the names and addresses of all persons and cnt itl.C3 VJho score a.ny tangible personal property on the Land by ba ilrnent. lea.5l::, consignment, o:c other arrangement with Company {"products in storage"}, and are in t.he posse..sion or under the rr;anagement of Company on Janu~n.-y 1st of each Value Year, further givicg a description of such products in storage. C. On or before the later of Decernbe:c 31, 2001, or 30 days from mailing of tax bill and in like ma~~er on or before each December 31st thereafter, througb and includj.ng December 31, 2007, Company shall pay to City an amount "in lieu of taxes" on Company's Property as ot 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' G Land, improvements and tangible personal property in the unanncxcd area equal to the surr. of: 1. pifty-three percent (53%) of the amount of ad valorem taxe~:: which would be payable to city if all of the Comp~ny's Land and improvements whiCh existed on January 1, 2001, ana each January 1 thereafter of the applicable V~lue Year during the term of this Agreement, (excluding amOllnCs payable pursuant to ::.;ubparagraph 2, below), had been within the corpor.ate limits of City and appraised 3