Assignment & Assumption 11/18/2014 ASSIGNMENT AND ASSUMPTION OF DESTINATION EVENT FUNDING AGREEMENT
AND CONSENT TO ASSIGNMENT BY MONROE COUNTY BOARD OF COUNTY COMMISSIONERS
THIS ASSIGNMENT AND ASSUMPTION AGEEMENT AND CONSENT TO ASSIGNMENT
("Agreement") is made to be effective this V? --day of November, 2014, by and between Key West
Innkeeper's Association, Inc., on the one hand ("Event Contractor"), and The Lodging Association
of the Florida Keys and Key West, Inc., on the other hand ("Assignee").
WHEREAS, an agreement was entered into on October 16, 2013, attached hereto, between
County and Key West Innkeeper's Association, Inc. (Event Contractor) to use Tourist Development
funding for the promotion of the Key West Holiday Fest in December 2014 (the "Event"); and
WHEREAS, the Event Contractor/Assignor was not able to-continue to sponsor the Event due to
the Key West Innkeeper's Association, Inc. merging under the management of The Lodging Association
of the Florida Keys and Key West, Inc.; and
WHEREAS, the Assignee is qualified and had agreed to sponsor and produce the Event; and
NOW THEREFORE, the above parties agree as follows:
1. Event Contractor/Assignor hereby assigns, transfers and sets over to Assignee all of its rights,
title and interest in, to and under the Key West Holiday Fest contract, subject to the terms,
covenants, agreements, representations and covenants set forth therein.
2. Assignee shall and does assume all obligations and responsibilities of Event Contractor/Assignor
under the Destination Event Contract.
3. . County approves and consents to the assignment of the Destination Event Contract from
Assignor to Assignee, the new Event Contractor.
4. Paragraph 1 of the contract shall read:
5. The County agrees to pay up to $35,000 (Thirty-five Thousand Dollars — TDC District I Funding
Allocation) for Key West Holiday Fest in December 2014 from tourist development tax funds
(see Exhibit "C" of original agreement). Of this amount, no more than 10% or $3,500 of the
total allocated funds shall be expended on advertising media costs attributable to in-County
placement. The general non-allocated section of an event budget shall not exceed 15% of
the total budget and may be utilized for unforeseen permissible expenditures and for
those budget lines that may require additional funds. No amendments shall be made to
Exhibit "C" after approval of contract. A list of Acceptable Event Marketing Expenses is
attached to the agreement as Exhibit "A" in original agreement.
6. All other provisions of the Destination Event Contract dated October 16, 2013, not inconsistent
herewith, remain in full force and effect.
Assignment of Agreement for FY 2014 Key West Holiday Fest
ID #: 1256
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