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determined by the Harris County Appraisal District. The parties <br />hereto recognize that said Appraisal District has no authority to <br />appraise the Land, improvements, and tangible personal property in <br />the unannexed area for the purpose of computing the "in lieu" <br />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 />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, 2020, 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, 2031, 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 <br />Years: <br />Value <br />Year <br />2020: <br />640 <br />Value <br />Year <br />2021: <br />6406 <br />Value <br />Year <br />2022: <br />640 <br />Value <br />Year <br />2023: <br />640 <br />Value <br />Year <br />2024: <br />64% <br />Value <br />Year <br />2025: <br />64% <br />Value <br />Year <br />2026: <br />640 <br />Value <br />Year <br />2027: <br />6406 <br />Value <br />Year <br />2028: <br />64o <br />Value <br />Year <br />2029: <br />640 <br />Value <br />Year <br />2030: <br />640 <br />Value <br />Year <br />2031: <br />6406 <br />Company agrees to pay to City an amount of " in lieu of <br />3 <br />