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Payments hereunder. Therefore, the parties agree that the <br />Appraisal of the Land, improvements, and tangible personal <br />Property in the unannexed area shall be conducted by City, at <br />City's expense, by an independent appraiser of City,s selection. <br />The parties recognize that in making such appraisal for "in lieu" <br />Payment purposes, such appraiser must o:0 necessity appraise the <br />,entire (annexed and unannexed) Land, improvements, and tangible <br />personal property. <br />Nothing herein contained shall ever be interpreted as lessening <br />the authority of the Harris County Appraisal District to establish <br />the appraised value of Land, improvements, and tangible personal <br />property in the annexed portion, for ad valorem tax purposes. <br />SIT. <br />A. The properties upon which the "in 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 />"Property")j 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 Property Tax <br />Code is exempt from ad valorem taxation and "in lieu of taxes" <br />hereunder. Property included in this AgreemenL• shall. not be <br />entitled to an agricultural use exemption for p»posee of <br />computing min lieu of taxes" hereunder. <br />B. On or before the later of December 31, 2008, or 30 days From <br />mailing of tax bill, and in like manner on or before each Deoember <br />Slot thereafter, through and including December 31, 2019, Company <br />shall pay to City an amount of "in lieu of taxes" on Companyis <br />Property as of January tat of the current calendar year ("Value <br />Year ). <br />C. Company and City agree that the following percentages <br />(°Percentage Amount") shall apply during each of the Value Years: <br />Value <br />Year <br />2008: <br />62:W <br />Value <br />Year <br />2009: <br />62W <br />Value <br />Year <br />2010s <br />62* <br />Value <br />Year <br />2011: <br />6291 <br />Value <br />Year <br />2012: <br />62-W <br />Value <br />Year <br />2013: <br />62* <br />Value <br />Year <br />2014: <br />63& <br />Value <br />Year <br />2015. <br />63$ <br />Value <br />Year <br />2016; <br />63Ps <br />Value <br />Year <br />2017: <br />63* <br />Value <br />Year <br />2018: <br />63W <br />Value <br />Year <br />2029: <br />63W <br />Company agrees to pay to City an amount of uin, lieu of <br />taxes" on Company's land, improvements and tangible <br />ofrgonal property in the unannexed area equal to the sum <br />3 <br />