2007 - 05-07-07 Regular Meeting - Laserfiche WebLink

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0 0 BOOK 21 PAGE 53 7 TRANSIT' VEHICLES ADVERTISING AGREEMENT G. Pay LCSS/COLTS 50% of leased rental space, excluding production costs, re- alized for the duration of the three year contract. H. Advance payment to LCSS/COLTS within 10 days after procurement of each new client. 1. Furnish to LCSS/COLTS a list of all advertisers and gross amounts paid by such advertisers to Signs & Designs, Inc. on a quarterly basis and at other times as LCSS/COLTS requests. J. Keep and maintain proper records of all services provided and charges made to all clients under this agreement. K. Include a provision in each of its advertising contracts which prohibits the transfer of the contract or any portion thereof. L. Signs & Designs, Inc. agrees to lease space only for advertising for which has first been approved by LCSS/COLTS. 2. LCSS/COLTS shall be responsible for the following obligations: A. Refer all inquiries received from companies and/or agencies with regard to advertising on transit vehicles to Signs & Designs, Inc. B. Permit Signs & Designs, Inc. at no expense, to place blanket advertising on specified LCSS/COL"fS vehicles for the purpose of selling advertising space to prospective customers of Signs & Designs, Inc. C. Have final approval on all proposed advertising, which shall include, but not be limited to, the advertiser, subject matter, art, and phraseology prior to the production and/or display of such advertising on LCSS/COLTS vehicles. It is anticipated that this agreement shall remain in effect for a period of three years. However, either party may terminate without cause upon 90 days prior written notice and payment shall be made by Signs & Designs, Inc. to LCSS/COLTS through the termina- tion date. LCSS/COLT'S may terminate, for cause upon 90 days prior written notice and payment shall be made by Signs & Designs, Inc. to LCSS/COLTS through the termina- tion date. Additionally, Signs & Designs, Inc. understands that LCSS/COLTS may have