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is <br />become due, all utility and other charges incurred in the <br />operation, maintenance, use, occupancy and upkeep of the Premises <br />and all assessments and charges lawfully made by any governmental <br />body for public improvements thaw 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, 199.8, be exempt <br />from ad valorem .property taxes as provided in Article ~7, Section <br />2t3) of the.NOrth Carolina Constitution and North Carolina <br />General Statutes :§ TO5-2.78..1. During the. Term, Tenant agrees to <br />make payments. to Landlord and to anlr municipality in which the <br />:Premises is located, in lieu of taxes, in amounts equivalent to <br />the amount of property tax.th~t would be lawfully assessed if the <br />Premises~wers 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 />competitve:adva.ntage 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 va orem 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 he 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. he 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 smiaar charges or the valuation. on <br />which '.the same are based, and, in the event o€ 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~jursdiction that such tribunal <br />does not have:jurisdict:on or is otherwa:se 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 cha 'lenge to a tax; assessment or other <br />similar charge or aluaton to arbitration by an arbitration <br />panel made up of MAI quali.fiedlcertified apprai ers. Landlord <br />shall select: one appraiser; Tenant shall select one appraiser; <br />the,a:ppraiser 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 Ghat 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 />sucYi contest, such taxes, asses merit and other charges may <br />8 <br />