Res 2002-034 - Laserfiche WebLink

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Program is approved by Tanger, the City, and Prime, Tanger may execute advertising contracts in accordance with the Program. Tanger will also develop each proposed advertisement in collaboration with the City and Prime, and will submit each proposed advertisement to the City and Prime for approval. The City and Prime will have five business days to approve or submit revisions on each advertisement. Upon request of Tanger, the City and Prime will use their best efforts to respond to proposed advertisements within 48 hours, due to the time sensitivity of advertising placement. In the event that advertising expenses are incurred by Tanger, but are not pre-approved by the City and Prime, the City and Prime will have no obligation to contribute towards the expenses. 3. Tanger agrees to match, dollar-for-dollar, the payments made by the City and Prime to Tanger for advertising expenses incurred by Tanger on behalf of the Co-op. In the event that Tanger expends funds in excess of its $25,000.00 match either to advertise the Tanger Outlet Center, or promote retail business or tourism in the City, the City and Prime will not be obligated to contribute any additional funds, and correspondingly Tanger would have no obligation to gain pre-approval by the City or Prime of those particular advertising endeavors. 4. Tanger will pay for all advertising placed under this Agreement, and Tanger will provide the City and Prime with proof of the advertising and detailed copies of invoices associated with the advertising. All three parties shall have the right to review and approve expenses, in advance related to the Co-op campaign to include, but not limited to, placement fees, agency fees, design and production fees in order to ensure the best possible rates can be obtained for the program. Prime and the City shall have 48 hours to respond, after notification by Tanger; otherwise, their consent is deemed approved. Objections to expenses must be made in writing, in advance of placement. No party at any time shall umeasonably withhold its approval. City and Prime contributions to the Co-op made pursuant to the Agreement shall not be used to reimburse Tanger for services provided by any of its officers, agents or employees for any services it provides in connection with the advertising expenses incurred under this Agreement. When placing media buys, all discounts, rebates, or added value shall be re-invested into the Co- op campaign. Immediately upon its approval of the Program, Prime shall pay the sum of $25,000 to the City within 45 days of the execution of the Agreement. Subject to the maximum City and Prime contributions of $25,000 each, the City will thereafter reimburse Tanger two- thirds of all advertising costs incurred by Tanger under this Agreement within 30 days from receipt of invoice copies and advertising proofs. If any of the Prime funds are unspent for any reason as of September 30, 2002, the City shall refund the unspent amount to Prime within ten days of that date. 5. Tanger shall provide the City with reports related to the advertising program containing the following: A. An analysis of funds expended under this Agreement; B. Traffic, sales, sales tax and zip code analysis for the Tanger Outlet Center; and C. A listing of the advertising media used, the dates of use, and the type of C:\TEMP\Tanger-Prime ad K 2002-revised.doc 2