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determined by the Harris County Appraisal .District.- The parties <br />hereto recogni2e 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 lien" <br />Payments hereunder. Therefore, the parties agree that the <br />appraisal. of the Land, improvements, and tangible personal <br />property .in the una...... area shall be conducted by City, at <br />City's expense, by an independent a ppraiser of City'.s selection. <br />The parties recognize that in making such. appraisal 'f;or "in lieu':' <br />payment purposes, such appraiser must of necessity ap raise the <br />P <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.:aIinexed portion, for ad valorem tax purposes. <br />III. <br />A. h,e properties upon which the "in lieu of" taxes -are assessed <br />are more fully described in subsections 1, 2:, and 3 of subsection <br />g p (sometimes collectively called the <br />C, of this Para rah III <br />"Pr.operty"); provided, however, pollution control: <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 <br />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 Years: <br />Value:Year 2020: 64% <br />Value Year 2021:. 6.40 <br />Value Year 2.022 GO <br />Value Year 2023: 64% <br />Value Year 2024: 64% <br />Value Year 2025:: 64% <br />Value Year 2.026: 64o <br />Value Year 2027: 64% <br />Value Year 2028: .64% <br />Value Year 2029: 64% <br />Value Year 2030: 64% <br />Value Year 20.31: 64% <br />Company agrees to pay to City an amount of "n.lieu of <br />taxes" on Company's land, improvements and tangible <br />3 <br />