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3. Percentage Amount of the amount of ad valorem taxes <br />which would be payable to City on all of the Company's <br />tangible personal property of every description, <br />located in an industrial district of City, including, <br />without limitation, inventory, (including inventory in <br />a federal Foreign Trade Zone and including Freeport <br />exempted inventory), oil, gas, and mineral interests, <br />items 'of leased equipment, railroads, pipelines, and <br />products in storage located on the Land, if all of said <br />tangible personal property which existed on January 1, <br />2020, and each January 1 thereafter of the applicable <br />Value Year during the teem of this Agreement, <br />(excluding amounts which would be so payable with <br />respect to any Substantial 'Increase in value of such <br />tangible personal property to which subparagraph 2, <br />above applies), had been within the corporate -limits of <br />City and appraised each year by the City's independent <br />appraiser, in accordance with`the applicable provisions <br />of the Texas Property Tax Code. <br />with the sum of 1, 2 and 3 reduced by the amount of City's ad <br />valorem taxes on the annexed portion thereof as determined by <br />appraisal by the Harris County Appraisal District. <br />4. Notwithstanding the above, should City elect to grant <br />the freeport� inventory exemption authorized by Article <br />VIII, Section 1-j of the Texas Constitution and Section <br />11.251 of the Texas Property Tax Code to taxpayers <br />within the City limits-, then the freepost inventory <br />exemption shall apply to parties to this Agreement. <br />Further, should inventory or any other class or type of <br />property become exempt from taxation by constitutional <br />amendment or act of the Texas Legislature (including, <br />but not limited to, Article VIII, Section 1-n, of the <br />Texas Constitution and Section 11.253 of the Texas <br />Property Tax Code), such class or type of property <br />shall be exempt for purposes of this Agreement, unless <br />the City Council of the City of La Porte shall by <br />Ordinance provide for the continued taxation of such <br />property under the authority of any applicable <br />provisions of the Texas Constitution and Texas <br />Statutes. <br />5. City and Company acknowledge circumstances might <br />require the City to provide emergency services to <br />Company's Property described. -on Exhibit "A" attached <br />hereto. Emergency services are limited to fire, <br />police, and public works' emergency services. If <br />Company is not a member of Channel Industries Mutual <br />Aid Association (CIMA), Company agrees to reimburse <br />City for its costs arising out of any emergency <br />response requested by Company to Company's property, <br />and to which City agrees`-to.respond. If Company is a <br />9 <br />