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determined by the Harris county Appraisal Dirt"riot <br />The part <br />hereto -recognize that said Appraisal -District, has no authdrity <br />appraise the Land, improvements, and <br />tangible personal property <br />t:46 uhann6ged area .for the <br />. I i­ purpose of computing the "in ji <br />p-gyments hereunder,. Therefore, the parties agree 'that <br />�, <br />appraisal of the Land; imp <br />rovements:,. and tangible perso., <br />-property in the . unann-e-ked area shall be conducted by City, <br />city-,1s. expense,. by an independent- appraiser of City's selecti, <br />The PAttldr. recognize. that in making such appraisal for "in 11, <br />payment putpbses.., such appraiser must of necessity appraise <br />entire. (annexed and unannexed) -Land improvements,- and tangij <br />pers6rial property.. <br />Nothing herein- contained shall ever be interpreted as less <br />the authority of the Harris County Appraisal District to estF <br />theappraised 'value of Land, improvements., and tangible per <br />Property in the annexed. portion,' for. -ad., Valorem tax purposes-. <br />111. <br />A. 'The properties upon wlu-ch 'the ti,in 13-eu 1 of taxes e are - 9tesesse <br />are more fully described in -subsections 1, 2-, and .1 of subsectic <br />Cj_ of this Paragraph III (sometimes <br />collectiv,41y ca:1led. th <br />'"Property")r provided, however, pollution control eq#pmen <br />installed on the Land which is exempt" from ad. valorem. tOxatic <br />'Pursuant to. the -provisions of -Sec. 1.1-31 Ta <br />of the Texas Propdtty, <br />Code: is exempt from ad Va em ti2Lxat's and "In lieu of , taxer. lor Ian <br />_hereunder. ., Property indluded in this Agreement shall, not b <br />.entitled to an. agricultural use exemption for purposes a <br />computin. <br />u �g `tin lieu- of taxes- hereunder.. <br />S. 'On or before the later .of December 31, 2.'020-, or 30 days <br />mailing Pf 'tax bill and in, like manner on or befdre each Dec <br />_31-st ..thereafter, through and including December 314, 2031,1. -Co, <br />'pay to City an amount of 'tin lieu :of taxes" on Comp <br />Property ;as of Ma ary 1st of the -current 6alendar year <br />ye <br />C. Company and City -agree that the follbvOixig perderr <br />(`"Percentage AmOuntf) Shall apply during each of the <br />Years.: <br />-Value <br />Year, <br />20210: <br />'64;0.- <br />Value <br />Year <br />21021 <br />t4v <br />Value <br />Year <br />2022.- <br />6 4 1.- <br />VA114P <br />Year <br />2Q23: <br />6.4 % <br />Value -Year <br />2024; <br />64* <br />Value <br />Year <br />2025: <br />6 <br />Value- <br />Ybak <br />2026-.' <br />64% <br />Value <br />Year <br />20271: <br />64%; <br />Value. <br />'Year <br />2028,: <br />640 <br />Value <br />Year <br />20 ;29, <br />Value <br />Year <br />2030,: <br />`ValtO_ <br />Year <br />2031: <br />6.4 R.- <br />Company agrees to: pay to City an amount -of-' "--in 'lieu 'of. I <br />dr 3 <br />IN <br />