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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 of 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 /> III. <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") ; 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 Agreement shall not be <br /> entitled to an agricultural use exemption for purposes of <br /> computing "in 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 December <br /> 31st thereafter, through and including December 31, 2019, Company <br /> shall pay to City an amount of "in lieu of taxes" on Company's <br /> Property as of January 1st 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 Year 2008 : 620. <br /> Value Year 2009: 620. <br /> Value Year 2010 : 62%- <br /> Value <br /> 20.Value Year 2011: 620. <br /> Value Year 2012 : 6201 <br /> Value Year 2013 : 621-o <br /> Value Year 2014 : 630 <br /> Value Year 2015 : 630 <br /> Value Year 2016: 630. <br /> Value Year 2017 : 63% <br /> Value Year 2018: 63% <br /> Value Year 2019: 630. <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 /> 3 �v <br />