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<br />a. Twelve Thousand Five Hundred Dollars ($ 12,500.00) for each of the four
<br />quarters of the City's fiscal year, with receipt deadlines of January 31, 2007, April 30,
<br />2007, July 31,2007, and October 31,2007, and with payments expected to occur on or
<br />about March 15,2007, May 15,2007, August 15,2007, and November 15, 2007.
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<br />The City will use these amounts to reimburse Tanger for up to one-sixth of all advertising costs
<br />incurred by Tanger for the Program. The City will make these payments within 30 days from
<br />receipt of invoice copies and advertising proofs. The City will hold these amounts in a liability
<br />account of the City for the purpose of making payments to Tanger under this Agreement until
<br />December 31, 2007, when any unspent funds will revert to the City's hotel occupancy tax fund
<br />balance. In no event will the total of contributions by the City under this Agreement exceed a
<br />total of $ 50,000.00.
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<br />5. Contribution of Funds by Area Chamber. The Area Chamber agrees to match,
<br />dollar for dollar, the City's payments to Tanger under Paragraph 4 of this Agreement. The Area
<br />Chamber expects to receive hotel occupancy tax payments from the City for each of the four
<br />quarters of the City's 2006-07 fiscal year, with payments expected to occur on or about February
<br />15, 2007, May 15, 2007, August 15, 2007, and November 15, 2007. Upon receiving the
<br />calculation of each of the City's payment amounts under Paragraph 4, the Area Chamber will use
<br />a portion of its hotel occupancy tax payments from the City to reimburse Tanger for up to one-
<br />sixth of all advertising costs incurred by Tanger for the Program. The Area Chamber will make
<br />these payments within 30 days from receipt of invoice copies and advertising proofs. In no event,
<br />however, will the total of contributions by the Area Chamber under this Agreement exceed
<br />$50,000.00
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<br />6. Advertising Placement; Program Costs; Payments. A. Tanger will pay for all
<br />advertising placed under this Agreement, and Tanger will provide the City, the Area Chamber
<br />and Prime with proof of the advertising and detailed copies of invoices associated with the
<br />advertising.
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<br />B. All three parties shall have the right to review and approve expenses in advance
<br />related to the Program to include, but not limited to, placement fees, agency fees, design and
<br />production fees, in order to ensure the best possible rates can be obtained for the Program. Prime,
<br />the Area Chamber and the City shall have 48 hours to respond, after notification by Tanger;
<br />otherwise, their consent is deemed approved. Objections to expenses must be made in writing, in
<br />advance of placement. No party at any time shall unreasonably withhold its approval.
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<br />C. City, Area Chamber 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 officers,
<br />agents or employees for any services it provides in connection with the advertising expenses
<br />incurred under this Agreement. When placing media buys, all discounts, rebates, or added value
<br />shall be re-invested into the Program.
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