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6. Pricing for 20oz CSD will be as follows <br /> 2013-2014 $29.62 <br /> 2014-2015 $30.51 <br /> 2015-2016 $31.42 <br /> 2016-2017 $32.36 <br /> 2017-2018 $33.33 <br /> Prices will not exceed more then a 3% increase per year and Bernick's will <br /> supply a letter of explanation of increases. <br /> 7. Commissions will be as follows; <br /> Candy/Snack 30% Commission <br /> Hot Beverage 15% Commission <br /> 8. Upon 90 days written notice, the City shall have the right to terminate the <br /> vending rights of Bernick's Pepsi, at any time for any reason. In the notice, the <br /> City shall set forth reasons for termination. If the reasons for terminating relate <br /> to receiving a lower price or any competitive bid, and if Bernick's Pepsi agrees <br /> to meet such competitive bid price within thirty- (30) days of receiving notice <br /> from the City, this contract shall not terminate. If the City terminates this <br /> contract Bernick's Pepsi shall have the right to remove its equipment from the <br /> Elk River Ice Arena. <br /> 9. This Agreement constitutes the entire agreement between the parties hereto, and <br /> shall be binding upon their heirs, executors, administrators, legal representatives, <br /> successors, and assigns. This agreement may not be altered or amended in any <br /> manner except in writing signed by both parties. No forbearance to exercise any <br /> right or privileges under this agreement or waiver of any breach of any of its <br /> terms, rights or privileges, but the same shall continue and remain full force and <br /> act the same as if no such forbearance or waiver had occurred. <br /> 10. This Agreement shall be interpreted under and governed by the laws of the State <br /> of Minnesota. If any provisions hereof or the application of any provision to any <br /> person or circumstance is held invalid or unenforceable, the remainder hereof <br /> and the application of provision to other persons or circumstances shall remain <br /> valid and enforceable. <br /> IN WITNESS WHEREOF, the parties have executed this Agreement on the day and <br /> year first above written. <br /> Mayor Chas A. Bernick, Inc. <br /> By By <br /> City Clerk Authorized Signature Katie Nelson <br /> Date Date <br />