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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 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 /> -L- andlord.., . s . Tax _ Assessor i . . . . . . . . . ._ _ . . . . . . . . . . . . . . . . . . <br /> Tenax} t may , at its expense , in good faith , contest any such <br /> imilar charges or the valuation on <br /> taxes , assessments and other s <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 had 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 . 4Landlord <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 /> 8 <br />