R-1966-50 - Laserfiche WebLink

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e e shall preclude such protest and Company shall have the right to take all legal' steps desired by it to reduce the ~ same, but at such time as the protested Harris County tax valuation on said property of Company has been finally de- termined, either as the result of final judgment of a court of competent jurisdiction or as the result of other final conclusion of the controversy, then within thirty (30) days thereafter Company shall make paYment to City of any addi- tional amount due hereunder based on such final valuation. Even though Company does protest the valuation set on its said properties by Harris County, Company will pay to City on or . before the time therefor hereinabove provided the total amount of the payment in lieu of taxes which would be due by Company to City in accordance with the foregoing provisions of this paragraph (2) on the basis of renditions filed by Company with the Tax Assessor of Harris County for that year. Should the City Commission, by resolution duly adopted by a majority of its members within thirty (30) days after the ad valorem tax assessment on Company's said property within the District is fixed by Harris County for any year during . the term hereof, determine that such assessment is more than twenty per cent (20%) less than the assessment for that year by Harris County of comparable properties within the District, the City may question Company's said assessment for the pur- pose of this agreement by so notifying Company in writing. Such written notice shall be given Company within six (6) days after the adoption of such resolution by registered United States mail addressed to Company at: . . . Celanese Corporation of America 522 Fifth Avenue New York, N. Y. 10036 -4-