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payments hereund:er.. Therefore, the parties agree that the <br />appraisal of the; Land, improvements, and tangible �personal <br />property <br />roperty in the unannexed area $'hall. be conducted. by City, at <br />City's expense, by :an indepEindent appraiser of City.,8: selects ection.. <br />The parties recognize that in making. such. Appraisal for: Pill 11'eup <br />payment purpos", such appraiser must of necessity appraise the <br />entire re (annexed and unannexed) 'Land, improvements, and tangible <br />personal property. <br />bathing herein contained shall ever e . r be interpreted as lessening <br />the authority of, the Harris County Appraisal District to. establish <br />the appraised value of Land, improvementsf and tangible person <br />41: <br />%property in the annexed portion, for ad Valorem tax purposes,. <br />A. The properties upon Which the 'Fin lieu of" taxes are: assessed <br />are more fully .,described in subsections 1, 2, and 3 of subsection <br />C, of this Paragraph III {sometimes collectively called the <br />, ":Propertyn); provided, however, pollution control equipment <br />installed on the Land which is exempt from ad valorem taxation <br />.pursuant to the provisions of Sec. 11..31 of the Texas Proper Tax <br />Code is exempt from! ad valorem taxation <br />axa�tioxi and "in lieu of taxes" <br />hereunder. Property 'included in this Agreement shall not be <br />entitled to an. agricultural use. exemption for purposes of <br />computing "in lieu,of taxes" hereunder,. <br />11. on or before. the later, of. December 31, 2008, or 30 days from <br />mailing of tdx:blll and.in like manner on or before each December <br />31st thereafter, through and including December 31, 2019,,Company <br />,shall pay to City, an amount, of. ."-,in lieu., of: taxes" on Companyls <br />Property as of :January 1st of the :current calendar year "Value <br />Year":) <br />.C,.: Company :and City agree that: the following percentagesPercent acre Amount") shall apply duxing each of the . Value Years: <br />Value <br />Yeat <br />2 0 OZ.- <br />620 <br />Value <br />Year <br />2 009::, <br />6.21; <br />Value <br />Year <br />2 {310 <br />621.1 <br />Value <br />Year <br />2911:-.: <br />620 <br />Value <br />Year <br />2.012,-: <br />6 2 *k <br />Value <br />Year <br />2013: ,v <br />6 216 <br />value <br />Year <br />2 024 - <br />63-% <br />Value <br />Year <br />2 0 150-.: <br />613;t <br />Value <br />Year <br />2016: <br />630 <br />Value <br />Yeat <br />2 017'- <br />6 3: <br />Value <br />Year <br />201,8.- <br />63% <br />Value <br />Year: <br />2015:, <br />63k <br />company agrees �to pay to. City an amount of 'in lieu of <br />taxes", on. Company's land, improvements: and tangible <br />personal property in the unannexed area equal to the. sum <br />of <br />