Res 2001-037 - Laserfiche WebLink

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Regional Vice President of .Marketing of Prime at Suite 901, 3939 South IH-35, San Marcos, TX 78666. The City and the CVB shall provide comments on the Yfodified Program through the City .Manager, and Prime will provide its comments on the Modified Program to Tanger. The City and Prime will have ten days after receiving the Modified Program to provide Tanger with changes or objections to the Program, after which all matters not changed or objected to \\'ill be deemed approved by the City and Prime. Once the Modified Program is approved by Tanger, the City, and Prime, Tanger may execute advertising contracts in accordance with the Modified Program. Tanger will also develop each proposed advertisement in cooperation 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 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. In the event that Tanger desires to expend funds in excess of its $71,000.00 match to advertise the Tanger Outlet Center, which is likely, the City and Prime will not be obligated to contribute towards those advertising expenses, 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 Amended Agreement, and Tanger will provide the City and Prime \\'ith proof of the advertising and copies of invoices for the advertising. Funds expended by Tanger may include placement fees, design fees, agency commissions or other fees traditionally charged by third parties to Tanger. Tanger will not pay itself or any of its officers or employees for any services it provides in connection with the advertising expenses incurred under this Amended Agreement. Within 15 days of its approval of the Modified Program, Prime shall pay the sum of $71,000 to the City. Subject to the maximum City and Prime contributions of $71,000 each, the City \\'ill thereafter reimburse Tanger nvo- thirds of all advertising costs incurred by Tanger under this Amended 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, 2001, the City shall refund the unspent amount to Prime vvithin ten days of that date. 5. Tanger shall provide the City with quarterly reports containing the following: A. An analysis of funds expended under this Amended 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 advertisements placed. These reports will be due on April 15, 2001, July 15,2001, and October 15,2001. C:\TEMP\Tanger-Prime ad K-edit.doc 2