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Authority, the Property shall not be subject to assessment <br />or payment of general ad valorem property taxes imposed by <br />the City of University City or the State of Missouri or any <br />political subdivision thereof for a period of ten (10) years <br />from January 1 of the year following the date Developer <br />acquired title to the Property, except to such extent and in <br />such amount as may be imposed upon the Property during such <br />period measured solely by the amount of the assessed <br />valuation of the land, exclusive of improvements, as was <br />determined by the Assessor of St. Louis County (the <br />"Assessor") for taxes due and payable thereon during the <br />calendar year preceding the calendar year during which the <br />Developer acquired title to the Property; and the amount of <br />such tax assessments shall not be increased by the Assessor <br />during said ten (10) year period so long as the Property is <br />used in accordance with the Urban Renewal Plan, the <br />Redevelopment Proposal, the Parcel Development Agreement and <br />any amendments thereto. <br /> <br /> (ii) Notwithstanding the tax abatement provided <br />for in Paragraph C(i) hereof and Section 353,110, the <br />Developer agrees with respect to the Property owned by it <br />and taxed pursuant to Section 353,110, that for the five (5) <br />years from January I of the year following the year <br />Developer acquired title to the Property, it will pay <br />annually to the Collector of Revenue of St. Louis County <br />(the "Collector") in addition to the ad valorem taxes <br /> <br />SL02 239182.8 7 <br /> <br /> <br />