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1~~11~~~~~ 1a:~~ ~1~~~~~~~~ P~~~ 1e~s~ <br />Company sha~,1 have the r~,ght to take all legal, steps des~~'ed by it <br />to reduce the same. <br />DTotwithstandi~,r~ such protest by Company, and except as atherw~.se <br />presv~.ded in Article Vl {a} , Comga,ny agrees to pay to Ciity on ar <br />before the' date therefor hereinabove prav,ided, at least the total <br />of (a} the total amount of ad va.~,orem taxes on the annexed <br />portions, plus (b) the total arctoux~t of the n~.n lieu of taxes" an <br />the u~xannexed portions of Company~s herei,zxabove descx~xbed property <br />which would be due t~o City in accordance w~.th the fr~regoing <br />prntrisians of this Agreement an the basis of rerrd,it,ivns which <br />shall be filed by Camgany. <br />~0hen the City or garrXS County Appraisal n~.strict {as the case may <br />be} valuat~,pn do said property of Company has been sa finally <br />determined, either as the ~esu~.t o~ final judgment of a co~.rt of <br />competent jurisdiction ox as the result of other final conclusion <br />of the eoz~'G~'o'~rersy, then within t~xxarty {3 p} days t~.ereafter <br />Company shall make payment to City of any ad$xt~.anal gayrnent due <br />hereunder, or City shall make payment to Company of any refund <br />due, as the case Wray be, be.sed an such final valuation, tagethex~ <br />w~.tY~ applicable penalties, i~xterests, and casts, <br />~3. Should Company disagree with any appraisal made by the <br />~.ndependexxG apprraiser selected by city pursuant tc~ Article II <br />above (which shall be given in wza,ti.zxg to Corr~paay) . Company skull, <br />~ritk~in twe~zty (~~} calendar days of receiving City's invoice, give <br />written notice tc~ the City of suc~x disagreement. In the event <br />Company does not gave such ~rritten notice of disagreement within <br />suclx txtne per~,ad, the appraisal made by said. independent appraiser <br />skza~.l be final anr~ controlling for purposes of the d.eterrn.~.matiaa <br />of "in Lieu of taxes" payments to be made under this Agreement. <br />Should Company gi'xre such notice of disagreement, Company shall <br />also submit to the City with such notice a written, statement <br />setting earth wk~at company believes to be the market value of <br />CampanyF s hereinabove descr~,bed property. Both pa~rt.ies agree tv <br />thereupon enter ~.nto goad faith negatiatians in an attempt to <br />reach an agreement as to the market value of companyFs property <br />far "in ~.ieLi" purgnses hereunder. zf, after the expiration of <br />thirty (30} days from thy: date the notice of disagreement was <br />received by City, the parties have not reached agreemezxt as to <br />such market value, the partl,es agree to submit the dispute to <br />final arbitration as provided in subparagraph 1 of th~.s Article <br />~vx {a) <br />bTatwithstanding any such disagx~eemeat by campaa~y, company agrees <br />to pay to C~.ty on ar before Decez~er 31 of each year during the <br />te:cm hereof, at least the #,ptal of (a} tk~e ad valorem ta.~es an the <br />annexed portions, plus (b) the total amount of the "in lieu <br />payments which would be due hereunder an the 1~asis of Car~rpany's <br />wz~.tten valuatiane statement submitted to City by Company <br />hereunder, nor the total, assessment and ^ia, lieu of taxes' thereon. <br />for the last preceding year, whYChever is higher. <br />7 <br />