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NAY-l0-2007 THU 11:49 AM FAX NO. P, 07 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 Company 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 ot the controversy, then within thirty (30) 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 ma.de by the independent appraiser selected by city pursuant to Article II above (which shall be given in writing to Company), Company shall, within twenty (20) daya of receiving such copy, give written notice to the city of such disagreement. In the event Company does not give such written notice of disa~reernent within such time periOd, the appraisal made by said 1ndependent appraiser shall 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 of disagreement, Company ahall also suhmit 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 int<J good faith negotiations in an attempt to reach an agreement as to the market value of Company's property for "in lieu" purposes hereunder. If, atter the expiration of thirty (30) days from the date the notice of disagreement was received by City, the parties have not ~eached agreement as to such market value, the parties agree to submit the dispute to final arbitration as provided in subparagraph 1 of thia Article VI B. Notwithstanding any suoh disagreement by Company, company agrees to pay to City on or beiore December 31 of each yea.r during the term hereof, at least the total of Ca) the ad valorem taxes on the anne~ed portions, plus (b) the total amount of the "in lieu" payments which would be due hereunder on the basis of Company's valuations rendered and/or submitted to City by company hereunder, or the total assessment and "in lieu of taxes" thereon for the last preceding year, whichever is higher. 1. A Soard 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 case of no agreement on this arbitrator in 10 days, the parties will join in a written request that the Chief Judge of the U.S. District Court for the Southern District of Texas appoint the t.hird arbitrator who, (as the -Impartial Arbitrator") shall preside over the arbitration proceeding. The sole issue to be determined in the arbitration shall be resolution of the differenoe between the parties as to the fair market value of company's property for calculation of the "in lieuw payment and total payment hereunder for the year in queation. The Board snaIl hear and consider all relevant and material evidence on that issue inclUding 6