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<br />ADVERTISING PROGRAM AGREEMENT <br /> <br />This agreement (the "Agreelnent"} is being entered into effective October 1, 2007, <br />between the City of San Marcos (the "City"), Tanger Properties Lilnited Partnership ("Tanger"), <br />San Marcos Factory Stores, Ltd~ and Prime Outlets-San Marcos GP, LLC ("Prime"), and the San <br />Marcos Area Chmuber of COlnmerce (the "Area Chmnber"). <br /> <br />RECIT ALS <br /> <br />1~ WHEREAS, Tanger is th.e owner and operator of the Tanger Factory Outlet Center in <br />San Marcos, Texas (the "r'[anger Outlet Center"), and Prilue is tIle owner and operator of Prime <br />Outlets at San Marcos in San Marcos, Texas (the "Prime Outlets"); and <br /> <br />2. WI-IEREAS, the City derives signifi.cant revenlles from retai.l busil1ess 311d tourism <br />activity in th.e City; 311d <br /> <br />3. WH'EREAS, the City' provides funding to the San Marcos Area Chamber of <br />Commerce to prOlTIote the tourism industry in the City; and <br /> <br />4. WI-IEREAS, in order to ensure the continued success of tIle San. Marcos outlet mall <br />area, and to el1hance revenlle to the City from retail business al1d tOllrislu activity, Tanger and <br />Prilne have offered to u.se t11eir professiol1al services and. efforts to facilitate a joint advertising <br />program (the "Program") with the City and tIle Area Chamber. <br /> <br />5. WHEREAS, the Program will be the result of the combined efforts, resources and <br />input of the four participants involved in the Program. <br /> <br />AGREEMENT <br /> <br />NOW THEREFORE, in consideration of the mutual promises and covenants contained <br />herein and good al1d valuable consideration, receipt of which is hereby acknowledged, tIle parties <br />agree as follows: <br /> <br />1. Development of Advertising Program. <br /> <br />A. Tanger will facilitate the media platlning aIld buyil1g for the Program, developed in <br />collaboration with the City and Prime, towards which City funds, Area Chamber funds (provided <br />by the City) and. Prime fUl1ds are to be contributed, in coordin.ation with the City Mal1ager, the <br />Area Chamber's COllventioll and Visitors Bureall Director (the "eVB Director"), and the <br />Marketing Manager of Prime. Tanger agrees to use these funds with its best professional efforts <br />for the implementatiol1 of the Program to promote retail business and tourism activity in the City <br />generally, at attractions in the area of the City, and at the Tanger and Prime olltlet malls. TIle <br />Program will include a preliminary advertisement! promotion concept, Inedia schedule and <br />advertising plan for the period from January 1, 2008, through December 31, 2008. <br /> <br />Page 1 of 6 <br />