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<br />a. Twelve Thousand Six Hundred Eight Dollars ($12,608.00) for eacll of the four quarters
<br />of the City's fiscal year, with receipt deadlines of J alluary 31, 2008, April 30, 2008, July
<br />31, 2008, and October 31, 2008, and with payments expected to occur on or about March
<br />14,2008, May 16,2008, August 15,2008, and November 14, 2008~
<br />
<br />TIle City will use these amounts to reimburse Tanger for the City's share of tIle
<br />advertising costs incurred by Tanger for the Program~ The City will make these paYlnents within
<br />30 days from receipt of invoice copies and advertising proofs. The City will hold these amounts
<br />in a liability account of the City for tIle purpose of makil1g paYlnents to Tal1ger under tllis
<br />Agreement until December 31, 2008, when any unspent funds will revert to the City's hotel
<br />occupancy tax fund balance~ In no event will the total of contributions by the City under this
<br />Agreement exceed a total of $ 50,432.00.
<br />
<br />5. Contribution of Funds by Area Chamber.
<br />
<br />TIle Area Chmuber agrees to contribute $75,000 to the program. The Area Clla1nber
<br />expects to receive hotel occupancy tax payments [roIn the City for each of the four quarters of
<br />the City's 2007-08 fiscal year, with payments expected to occur on or about February 15, 2008,
<br />May 16,2008, August 15,2008, 311d November 14, 2008~ Upon receiving the calculatiol1 of each
<br />of the City's paYlnent amOllnts Ullder Paragraph 4, tIle Area Chmuber will use a portion of its
<br />110tel occllpancy tax paymellts from the City for use as the Chamber's share of the advertising
<br />costs incurred by Tanger for tIle Program. The Area Chamber will make these payments within
<br />30 days from receipt of invoice copies and advertising proofs. In no event, however, will the
<br />total of contributions by the Area Chamber l111der this Agreement exceed $75,000.00
<br />
<br />6. Advertising Placement; Program Costs; Payments.
<br />
<br />A. Tanger will pay for all advertising placed under this Agreelnent, and Tanger will
<br />provide the City, the Area Cllamber and Prime with proof of the advertising and detailed copies
<br />of invoices associated with the advertising.
<br />
<br />B. TIle Parties shall have the right to review al1d approve expenses in advance related to
<br />the Program to in.elude, but not limited to, placement fees, agency fees, design and production
<br />fees, in order to ensure the best possible rates can be obtained for the Program. all Parties shall
<br />have 48 hours to respond, after notification by 1~anger; oth.erwise, their consent is deemed
<br />approved. Objections to expCllses lTIUst be made ill writing, ill advance of placement No party at
<br />any time shall unreasollably witllhold its approvaL
<br />
<br />c. City, Area Cllaluber and Prime contributions to the Program made pursuant to the
<br />Agreement shall not be used to reimburse Tanger for services provided by any of its offi.cers,
<br />agents or employees for UllY services it provides in connection with the advertising expenses
<br />il1curred under this Agreement. When placil1g media buys, all discou.nts, rebates, or added value
<br />shall be re-invested into the Program~
<br />
<br />7. Reports.
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