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1 CITY OF EVERETT <br /> WEYERHAUSER ROOM MANAGEMENT AGREEMENT <br /> THIS AGREEMENT made and entered into on this, day of December 2005, by and <br /> between the CITY OF EVERETT, a municipal corporation under the laws of the State of <br /> Washington, hereinafter referred to as the "City," and COLBY HOSPITALITY, INC., a <br /> Washington corporation whose address is 1507 Wall St., Everett, WA 98201 hereinafter referred <br /> to as "CHI." <br /> WHEREAS, the City desires to renew its agreement through March 31, 2007 with CHI to <br /> promote and manage the Weyerhaeuser Room at Everett Station for the City of Everett; and <br /> WHEREAS, CHI represented, and by entering into this Agreement now represents, that it is <br /> fully qualified to perform the work to be performed hereunder in a competent and professional <br /> manner; <br /> NOW,THEREFORE, the parties herein do mutually agree as follows: <br /> 1. Management. CHI will aggressively market the Weyerhaeuser Room (WR) through its <br /> Website, www.colbyhospitality.com and other promotional tools. CHI will provide all aspects of <br /> event management including,booking, billing, room set and tear down. CHI will make every <br /> reasonable effort to respond to customer inquires within twenty-four hours of initial contact. For <br /> each event managed by CHI, a representative of CHI will be on site to assist customers at least <br /> fifteen minutes before the event is to begin through at least fifteen minutes after the event <br /> commences. <br /> 2. Term. This Agreement shall commence as of the date of execution of this Agreement <br /> and shall end at midnight on March 31, 2007.. This Agreement applies to all events scheduled to <br /> occur between January 4, 2006 through March 31„ 2007. <br /> 3. Compensation. <br /> A. CHI shall be compensated by retaining the first fifty dollars ($50.00) of revenue collected <br /> by CHI from each event managed by CHI and fifty per cent (50%)of the remaining revenue <br /> generated by the event. <br /> B. The City authorizes CHI to deviate from the City's rental rate guidelines when CHI <br /> reasonably believes it appropriate in the exercise of its business judgment to maximize use and <br /> revenue of the Weyerhaeuser Room. Regardless of such deviation, revenue shall be distributed <br /> according to paragraph 3(A). <br /> C. In its sole discretion, the City may waive its share of rental revenue and such waiver shall <br /> not affect the revenue due to CHI. <br /> 4. Termination of Contract. City reserves the right to terminate this Agreement at any <br /> time by sending written notice of termination to CHI ("Notice"). The Notice shall specify a <br /> termination date ("Termination Date") at least fourteen (14) days after the date the Notice is <br /> Page 1 <br /> _ 41 <br />