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MARKETING PROGRAM AGREEMENT <br />This agreement (the "Agreement ") is being entered into effective October 1, 2010, <br />between the City of San Marcos (the "City ") and San Marcos Factory Shops, Ltd. and Prime <br />Outlets at San Marcos II Limited Partnership (collectively, "Simon "), <br />RECITALS: <br />1. WHEREAS, Simon is the owner and operator of the San Marcos Premium Outlets in <br />San Marcos, Texas; and, <br />2. WHEREAS, the City derives significant revenues from retail business and tourism <br />activity in the City; and, <br />3. WHEREAS, in order to ensure the continued success of the San Marcos Premium <br />Outlets ® , to enhance revenue to the City from retail business and tourism activity, and to increase <br />the number of tourists staying in the City's hotel and motel facilities, Simon has offered to use its <br />professional marketing efforts to facilitate a joint marketing program (the "Program ") with the <br />City. <br />AGREEMENT <br />NOW THEREFORE, in consideration of the mutual promises and covenants contained <br />herein and good and valuable consideration, receipt of which is hereby acknowledged, the parties <br />agree as follows: <br />1. Development of Marketing Program. <br />A. Simon will facilitate an enhanced ,marketing strategy planning and buying for the <br />Program, developed in collaboration with the City towards which City funds are to be <br />contributed, in coordination with the City Manager or his designee. Simon agrees to use these <br />funds for the implementation of the Program to promote retail business and tourism activity in <br />the City generally, at attractions in the area of the City, and at San Marcos Premium Outlets . <br />The Program shall be targeted exclusively to the San Marcos Premium Outlets. The Program <br />will include preliminary marketing initiatives for the period from October 1, 2010, through <br />September 30, 2011. <br />B. Once initial development of the Program is complete; Simon will prepare a proposal <br />and provide a copy to the City Manager. The City Manager (or designee) will provide his <br />comments, changes, and objections, if any, on the Program to Simon within ten business days <br />after receiving the proposed Program, after which all matters not changed or objected to will be <br />deemed approved by the City. Once the Program is approved, Simon may execute the enhanced <br />marketing strategy in accordance with the Program. <br />2. Contribution of Funds by Simon. <br />Page 1 of 5 <br />