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Company shall brave the right to. take all legal steps desired by it <br />to: reduce the sarfie. <br />Notwithstanding such protest by Company, .and except as otherwise <br />provided in Article Vx (B) , Company agrees to pay to City on or <br />before the date therefor hereinabove provided, at least the total <br />of (a) the total amour!t of ad valorem taxes on the annexed. <br />portions, plus (b) the total amount of the "gin Lieu of.: taxesn on - <br />the =annexed ,portions of Co�tpanyI s hereinabove. described property: <br />which would be due to City in accordance with. "the foregoing <br />provisions of this Agreement on the basis of renditions Which <br />shall be filed by Company`.. <br />When the City or Harris County Appraisal Distract (as the; caste may <br />be) valuation on said property of Company has been: so finally <br />determined.,, either :;as the result of final judgment of a court of <br />competent Jurisdiction or a's the. :result of other. final conclusion <br />of the: controversy, then. within thirty (30) days thereafter. <br />Company shall make payment to City of any additional "payment due <br />hereunder, or. City shall: make payment to Company of any refund <br />due, as the case may be., based on such final valuation, together <br />with applicable penalties, interests, and costs;.; <br />B. Should Company disagree With any appraisal made by the <br />independent appraiser selected by City pursuant' to Article 11 <br />above (which shall be g'iv ex in writing to Company), Company shall., <br />within twenty (20:) "calendar days_ of receiving city's invoke, give <br />written notice to the City of such disagreement:. In the event <br />Company does not give such written: notice of disagreement within <br />such time. period, "the appraisal made by said independent appraiser <br />shall be final and controlling ,for purposes of the determination <br />of nin lieu of. taxes" payments tabe mane under this Agreement, <br />Should Company give such notice of disagreement,. Company shall <br />al:°so submit to the City with such notice a written. :statement <br />setting forth what Company believes to be the market value of <br />Company's 'here nabove described property. Both parties agree:: to <br />thereupon enter into good faith negotiations in an attempt to <br />reach. .an agreement as to the market value of Company's property <br />for. Hain Lieu"` purposes hereunder:. 1f,. after the expiration of`. <br />thirty (3"0) days from the date the notice of disagreement was <br />received by City, the parties ::have not reached agreement as to <br />such :market value,, the parties agree to submit the dispute to <br />final. arbitration: as provided in subparagraph 1 of this Article' <br />VIM), <br />Notwithstanding any such disagreement by Company Company, agrees. <br />topay to City on or before December 37 of each' year 'during the <br />term hereof, at least the total of (a) the ad: valorem taxes on the <br />annexed portions,,. plus (b) the total amount of the ,in, lieu." <br />payments, t4hich would be °due hereunder on the basis of Company T s <br />written valuations statement submitted to :City by Company <br />hereunder, or the total assessment and "in lieu ;of taxes" there- <br />for .the last preceding year:, whichever is higher. <br />7 <br />