Agreement made this _____ day of _____, ____, between __________________ (hereinafter called "the Artist"), residing at _________________, and ______________ (hereinafter called "the Purchaser"), residing at ___________.
The Artist shall sell the Work to the Purchaser, subject to the conditions herein, for a price of $_________ (dollars). The Purchaser shall also pay all applicable taxes, insurance, shipping, and delivery costs.
a. Copyright and Right to Credit. The Artist reserves all rights of reproduction and all copyright on the Work, the preliminary design, and any incidental works made in the creation of the Work. The Work may not be photographed, sketched, painted, or reproduced in any manner whatsoever without the express written consent of the Artist.
b. Right to Possession. The Artist and the Purchaser agree that the Artist shall have the right to show the Work for up to sixty (60) days once every five (5) years at no expense to the Purchaser, upon written notice not later than ninety (90) days before opening of show and upon satisfactory proof of insurance. All costs incurred from door-to-door will be the responsibility of the Artist.
c. Non-destruction/Alteration. The Purchaser agrees that he/she will not intentionally destroy, alter, damage, modify, or otherwise change the Work in any way whatsoever, without the Artist's written permission.
d. Repairs/Maintenance. The Purchaser shall be responsible for the proper cleaning, maintenance, and protection of the Work in his/her possession, if on loan or otherwise exhibited, notwithstanding anything contrary herein. All repairs and restorations made during the Artist's lifetime shall have the Artist's written permission. The Artist shall be consulted as to his/her recommendations with regard to all such repairs and restorations, and will be given the opportunity to accomplish such repairs as he/she deems necessary. In that event the Work will no longer be represented as the Work of the Artist without his/her written permission.
e. Resale of Work. If the Purchaser sells or transfers the Work, the Purchaser shall pay to the Artist a sum equal to fifteen percent (15%) of the appreciated value of the work and shall obtain from the new purchaser or transferee a binding undertaking to observe all of the provisions of this Agreement in the interest of the Artist. The Artist shall be given the new owner’s name and address. For the purposes of this agreement, appreciated value shall mean the sales price of the artwork less the original purchase price as stated in this agreement.
All notices shall be sent to the addresses noted above. Each party shall give written notification within sixty (60) days of any changes of address.
Neither party hereto shall have the right to assign or transfer this agreement without the prior written consent of the other party.
The agreement shall be binding upon the parties hereto, their heirs, successors, assigns, and personal representatives, and references to the Artist and the Purchaser shall include their heirs, successors, assigns, and personal representatives.
If any part of this Agreement is held to be illegal, void, or unenforceable for any reason, such holding shall not affect the validity and enforceability of any other part.
The validity of this Agreement and of any of its terms, as well as the rights and duties of the parties under this agreement, shall be governed by the laws of the ( Province / State ) of ______________.
IN WITNESS WHEREOF the parties have hereunto set their hands this date of _____________,
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