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10 <br />become due, all utility and other charges incurred in the <br />operation, maintenance, use, occupancy an made upkeep of <br />governmental <br />and all assessments and charges lawfully Y a <br />body for public improvements that may be secured by lien.on the <br />Premises; provided that with respect to special assessments or <br />other governmental charges that may be lawfully paid in <br />installments over a period of years,'Tenant shall be obligated to <br />pay only such installments as are required to be paid during the <br />Term. <br />At the commencement of this Lease the Premises will be owned <br />-by Landlord and will thereafter, on January 1, 1998, be exempt <br />from ad valorem property taxes as provided in Article V, Section <br />2 (3) of the North Carolina Constitution and North Carolina <br />General Statutes § 105- 278.1. During the Term, Tenant agrees to <br />make payments to Landlord and to any municipality in which the <br />Premises is located, in lieu of taxes, in amounts equivalent to <br />the amount of property tax that would be lawfully assessed if the <br />Premises-were taxable by Landlord and any municipality in which <br />the Premises is located. This agreement to make payments in lieu <br />of taxes in amounts equivalent to the amount of property tax that <br />would otherwise be lawfully assessed is to eliminate the <br />competitive advantage accruing to Tenant, a profit- making <br />enterprise, from the use for profit of Landlord's tax exempt <br />property. Payments in lieu of ad valorem taxes as provided <br />herein shall be made to Landlord and to any municipality in which <br />the Premises is located on or before December 31, 1998 and <br />December 31 of each year thereafter during the Term. Tenant <br />agrees that the valuation of the Premises shall be made by <br />Landlord's.Tax Assessor according to the Schedule of Values <br />adopted by.Landlord from time to time and that the determination <br />of the true value in money of the Premises shall be made by <br />. Landlord.' s _Tax..Assessor; . . _ ._... _...... _... <br />Tenant may, at its expense, in good faith, contest any such <br />taxes, assessments and other similar charges or the valuation on <br />which the same are based, and, in the event of any such contest, <br />may pay the taxes, assessments or other charges.under protest <br />during the period of such contest and any appeal therefrom. In <br />the event it is determined by Tenant and Landlord or by the <br />tribunal which ordinarily has jurisdiction that such tribunal <br />does not have jurisdiction or is otherwise not permitted to act <br />as a forum in consequence of the fact that Tenant's liability for <br />the tax is contractual rather than imposed by law, then either <br />party may submit a challenge to a tax, assessment or other <br />similar charge or valuation to arbitration by an arbitration <br />panel made up of MAI qualified /certified appraisers. Landlord <br />shall select one appraiser; Tenant shall select one appraiser; <br />the'appraiser selected by Landlord and Tenant shall select a <br />third appraiser and the decision of the arbitration panel shall <br />be binding on both parties. To the extent that enforcement of <br />the payment of any such taxes, assessments and other charges in <br />the event of any contest are legally stayed during the period of <br />such contest, such taxes, assessments and other charges may <br />