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<br />B. Once initial development of the ProgralTI is cOll1plete, Tanger will prepare a proposal
<br />and provide a copy to the City Manager, to the CVB Director at 202 C.M~ Allen Parkway, San
<br />Marcos, TX, 78666, and to the Marketing Manager of Prime at 3939 South IH-35, Suite 900, San
<br />Marcos, TX 78666. The City Manager, the CVB Director, and the Prime Marketing Manager
<br />will provide their comments, changes, and objections, if any, on the Program to Tanger within
<br />ten business days after receiving the proposed Program, after which all matters not cl1anged or
<br />objected to will be deemed approved by the City, the Area Chamber, and Prime. Once the
<br />Progrmll is approved by Tanger, the City, the Area Chamber, and Prime, Tanger Inay execute
<br />advertising contracts in accordance with the Program.
<br />
<br />c. Prime will then develop each proposed advertisement in collaboration with the City,
<br />the Area Chamber, and Tanger, and will submit each proposed advertisement to the City
<br />Manager, the CVB Director, and the Tanger General Manager for approval. The City, the Area
<br />Chalnber, alld Tallger will have seven business days to approve or sublnit revisions on each
<br />advertisement. In tIle event that advertising expenses are incurred by Tanger, but are not pre-
<br />approved by the City, the Area C11amber and Prime, the City, the Area CllaITiber arid Prime 'v~li11
<br />have n.D obligation to contribute towards tIle expenses~
<br />
<br />2. Contribution of Funds by Tanger.
<br />
<br />Tanger agrees to contribute $100,000 (the same alnount contributed by Prime) for
<br />advertising expenses illcurred for the Program~ In the event that Tanger expends funds in excess
<br />of its match either to advertise tIle Tal1ger Outlet Cel1ter, or promote retail business or touris.m in
<br />the City, the City, the Area Chmuber and Prime will not be obligated to contribute any additional
<br />funds, and cOITespol1dingly Tanger would have no obligation to gain pre~approval by the City,
<br />the Area Chamber or Prime of those particular advertising endeavors.
<br />
<br />3. Contributions of Funds by Prime.
<br />
<br />Prime agrees to contribute $100,000 (the same amOllllt contributed by Tanger) for
<br />advertising expenses inclln4cd for tIle Program. Prime will make payments to the City in two
<br />eqllal installments on May 15,2008, and August 15,2008 totaling $lOO,OOO~ In no event will the
<br />total of paymel1ts by Prime under this Agreement exceed $100,OOO~ The City will use these
<br />amOul1ts from Prime to reimburse Tanger for Prime's share of the advertising costs incun~ed by
<br />Tanger under this Agreement. The City will make these payments within 30 days from receipt of
<br />invoice copies and advertising proofs~ If any of the Prime funds are unspellt for any reason as of
<br />Deceluber 3], 2008, the City shall refund the unspent amount to Prilue within ten days of that
<br />date. In tIle eVe!lt that Prime expends funds in excess of its match either to advertise the Prime
<br />Outlet Center, or prOlTIote retail business or tourism in the City, the City, the Area Chamber and
<br />Tatlger will not be obligated to contribute any additional funds, and correspondillgly Prime
<br />wOldd have no obligation to gain pre-approval by the City, the Area Chamber or Tanger of those
<br />particular advertising endeavors.
<br />
<br />4~ Contribution of Funds by City.
<br />
<br />The City agrees to contribute to the Program up to the sum of tIle following:
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