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determined by the Harris County Appraisal District. The part <br />hereto recognize that said Appraisal District has no authority <br />appraise the Land, improvements, and tangible personal property <br />the, unannexed area for the purpose of computing the "in li <br />payments hereunder. Therefore, the parties agree that <br />appraisal of the Land, improvements, and tangible perso: <br />property in the unannexed area shall be conducted by City, <br />City's expense, by an independent appraiser of City's selecti, <br />Theparties recognize that in making such appraisal for "in li, <br />payment purposes, such appraiser must of necessity appraise <br />entire (annexed and unannexed) Land, improvements, and tangi: <br />personal property. <br />Nothing herein contained shall ever be interpreted as lessen <br />the authority of the Harris County Appraisal District to establ <br />the appraised value of Land, improvements, and tangible persa <br />property in the annexed portion, for ad valorem tax purposes. <br />A. The properties upon which the "in lieu of" taxes are assesse <br />are more fully described in subsections 1, 2, and 3 of subsectio <br />C, :of this Paragraph III (sometimes collectively called th <br />"Property"); provided, however, pollution control equipmen <br />installed on the Land which is exempt from ad valorem taxatio <br />pursuant to the provisions of Sec. 11.31 of the Texas Property Ta <br />Code is exempt from ad valorem taxation and "in lieu of taxes <br />hereunder. Property included in this Agreement shall not b <br />entitled to an agricultural use exemption for purposes o <br />computing "in lieu of taxes" hereunder. <br />B. On or before the later of December 31, 2020, or 30 days fro <br />mailing of tax bill and in like manner on or before each Decembe <br />31st thereafter, through and including December 31, 2031, Compan <br />shall pay to City an amount of "in lieu of taxes" on Company' <br />Property as of. January 1st of the current calendar year ("Value <br />Year") . <br />C. Company and City agree that the following percentag <br />(",Percentage Amount") shall apply during each of the Val <br />Years: <br />Value <br />Year <br />2020: <br />644 <br />Value <br />Year <br />2021: <br />64%; <br />Value <br />Year <br />2022: <br />649, <br />Value <br />Year <br />2023: <br />64% <br />Value <br />Year <br />2014: <br />64!k <br />Value <br />Year <br />2025: <br />64W <br />Value <br />Year <br />2026: <br />646 <br />Value <br />Year <br />2027: <br />646 <br />Value <br />Year <br />2026: <br />64§ <br />Value <br />Year <br />2029: <br />649a- <br />Value <br />Year <br />2030: <br />64q; <br />Value <br />Year <br />2031: <br />64W <br />Company agrees to pay to City an amount of in lieu of <br />3 <br />