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� <br />City of <br />Elk -�-1 <br />River <br />January 16, 2024 <br />Julia Schreifels <br />Assistant Vice President, Director of Marketing <br />The Bank of Elk River <br />630 Main Street NW <br />Elk RiveY, MN 55330 <br />Dear Julia: <br />This letteY of contract is to formalize the agreement between The Bank of Elk River and the Cityr of Elk River <br />regarding the sponsorship of the Riverfront Concert Series. <br />The term of the contract shall be for three years including the 2024, 2025 and 2026 concert seasons. The Bank <br />of Elk River shall contribute annually to secure the exclusive sponsorship rights of the Riverfront Concert <br />series as follows: <br />■ 2024 <br />■ 2025 <br />■ 2026 <br />$25,000 <br />$26,000 <br />$27,000 <br />The annual sponsorship benefits `vill include: <br />1. Sole corporate sponsor of the Riverfront Concert Series. <br />2. The development of a marketing plan incorporating The Bank of Elk River sponsorship. The plan <br />will be developed in conjunction with The Bank of Elk River staff to ensure all groups are informed <br />and in agreement of marketing methods being utilized. <br />3. A Resolution accepting the three donations �vill be held at a Cit�T Council meeting. <br />4. r� commitment to bring in high quality bands for each yTear with consideration of theme nights and <br />engaging activities. <br />5. The Bank of Elk River `vill receive a free Orono Park pavilion reservation once each yTear for their <br />annual summer picnic. <br />First right of refusal to sponsor anyT other major Elk River Park and Recreation Department events <br />that incorporate major corporate sponsors. <br />In the event either party wishes to terminate the contract within the three-year operational period, notification <br />needs to be provided no lateY than SeptembeY 1 prioY to the next summeY conceYt series. <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />Phone: 763.635.1000 <br />www.ElkRiverMN.gov <br />rowEnEo e� <br />��►�'UR� <br />