+ + + The transcription of the contract-text from 1971 by seth siegelaub and bob projansky has been made without engagement. Be sure to verify it yourself. + + + Quelle: http://GeheimRat.com/thecontract.html AGREEMENT OF ORIGINAL TRANSFER OF WORK OF ART This agreement made this _____ day of ____________ , 19 _____ by and between ______________________________________ (hereinafter the 'Artist'), residing at _____________________________________________________________ and ___________________________________ (hereinafter the 'Collector'), residing at _______________________________________________________________ ; WITNESSETH Whereas the Artist has created that certain work of art: Title: ____________________ Identification #: __________________________ Date: ____________________ Material: __________________________ Dimensions: ________________ Description: __________________________ (hereinafter 'the Work'); and WHEREAS Artist is willing to sell the Work to Collector and Collector is willing to purchase the Work from Artist, subject to mutual obligations, convenants, and conditions herein; and WHEREAS Collector and Artist recognize that the value of the Work, unlike that of an ordinary chattel, is and will be affected by each and every other Work of art the Artist has created and will hereafter create; and WHEREAS the parties expect the value of the Work to increase hereafter; and WHEREAS Collector and Artist recognize that it is fitting and proper that Artist participate in any appreciated value which may thus be created in the Work; and WHEREAS the parties wish the integrity and clarity of the Artist's idea and statements in the Work to be maintained and subject in part to the will or advice of the creator of the Work, NOW THEREFORE, in consideration of the foregoing premises and the mutual convenants hereinafter set forth and other valuable considerations the parties hereto agree as follows: ARTICLE 01 - PURCHASE AND SALE The Artist hereby sells to Collector and Collector hereby purchases the Work from Artist, subject to all covenants herein set forth (for the price of __________________, receipt of which is hereby acknowledged) (at the agreed valuation for the purposes of this agreement of __________________ ). ARTICLE 02 - FUTURE TRANSFERS Collector covenants that in the event Collector shall hereafter sell, give, grant, barter, exchange, assign, transfer, convey or alienate the Work in any manner whatsoever or if the Work shall pass by inheritance or bequest or by operation of law, or if the Work shall be destroyed and insurance proceeds paid therefor, Collector or Collector's personal representative shall: (a) file a current TRANSFER AGREEMENT AND RECORD in the form and containing the information set forth and called for in the specimen hereunto annexed and made a part hereof, completed and dated, and subscribed by Collector or Collector's personal representative and Collector's transferee, with the (Artist at the address set forth above) (Artist's agent for the purpose: ___________________________________________ at ____________________ ) within thirty days of such transfer, distribution, or payment of insurance proceeds, and shall (b) pay a sum equal to fifteen percent (15%) of the appreciated value (as hereinafter defined), if any occasioned by such transfer or distribution or payment of insurance proceeds to (Artist at the address set forth above) (Artist's agent for the purpose: ___________________________________________ at ____________________ ) within thirty days of such transfer, distribution, or payment of insurance proceeds. ARTICLE 03 - PRICE / VALUE The 'price or value' to be entered on a TRANSFER AGREEMENT AND RECORD shall be: (a) the actual selling price if the Work is sold for money; or (b) the money value of the consideration if the Work is bartered or exchanged for a valuable consideration; or (c) the fair market value of the Work if it is transferred in any other manner. ARTICLE 04 - APPRECIATED VALUE 'Appreciated value' of the Work for the purpose of this agreement, shall be the increase, if any, in the value or price of the Work set forth in a current duly executed and filed TRANSFER AGREEMENT AND RECORD over the price or value set forth in the last prior duly executed and filed TRANSFER AGREEMENT AND RECORD, or, if there be no prior duly executed and filed TRANSFER AGREEMENT AND RECORD, over the price or value set forth in article 1 herein. (a) In the event a current duly executed TRANSFER AGREEMENT AND RECORD is not timely filed as required by article 2 herein, appreciated value shall nonetheless be computed as if such current TRANSFER AGREEMENT AND RECORD had been duly executed and filed, with a price or value set forth therein equal to the actual market value of the Work at the time of the current transfer or at the time of the discovery of such transfer. ARTICLE 05 - TRANSFEREES TO RATIFY AGREEMENT Collector hereby covenants that he will not hereafter sell, give, grant, barter, exchange, assign, transfer, convey or alienate the Work in any manner whatsoever or permit the Work to pass by inheritance or bequest or by operation of law to any person without procuring such transferee's ratification and affirmation of all the terms of this agreement and transferee's agreement to be bound hereby and to perform and fulfill all the Collector's covenants set forth herein, said ratification, affirmation and agreement to be evidenced by such transferee's subscription of a current duly completed and filed TRANSFER AGREEMENT AND RECORD. ARTICLE 06 - PROVENANCE Artist hereby covenants that (Artist) (Artist's agent for the purpose as set forth in article 2) will maintain a file and record of each and every transfer of the Work for which a TRANSFER AGREEMENT AND RECORD has been duly filed pursuant to article 2 herein and will at the request of the Collector or Collector's successors in interest, as that interest shall appear, furnish in writing a provenance and history of the Work based upon said records and upon Collector's notices of proposed public exhibitions and will certify in writing said provenance and history and the authenticity of the Work to Collector and his successors in interest, and, at Collector's reasonable request, to critics and scholars. Said records shall be the sole property of the Artist. ARTICLE 07 - EXHIBITION Artist and Collector mutually covenant that (a) Collector shall give Artist written notice of Collector's intention to cause or permit the Work to be exhibited to the public, advising Artist of all details of such proposed exhibition which shall have been made known to Collector by the exhibitor. Said notice shall be given for each such exhibition prior to any communication to the exhibitor or the public of Collector's intention to cause or permit the Work to be exhibited to the public. Artist shall forthwith communicate to Collector and the exhibitor any and all advice or requests that he may have regarding the proposed exhibition of the Work. Collector shall not cause or permit the Work to be exhibited to the public except upon compliance with the terms of this article. (b) Collector shall not cause or permit any public exhibition of the Work except with the consent of the Artist to each such exhibition. (c) Artist's failure timely to respond to Collector's timely notice shall be deemed a waiver of Artist's rights under this article, in respect to such exhibition and shall operate as a consent to such exhibition and to all details thereof of which Artist shall have been given timely notice. ARTICLE 08 - ARTIST'S POSSESSION Artist and Collector mutually covenant that Artist shall have the right, upon written notice and demand to Collector made not later than 120 days prior to the proposed shipping date therefor, to possession of the Work for a period not to exceed sixty (60) days solely for the purpose of exhibition of the Work to the public at and by a public or non-profit institution, at no expense whatsoever to Collector. Collector shall have the right to satisfactory proof of sufficient insurance and pre-paid transportation or satisfactory proof of financial responsibility therefor. Artist shall have the right to such possession of the Work for one period not to exceed sixty (60) days every five (5) years. ARTICLE 09 - NON-DESTRUCTION Collector covenants that Collector will not intentionally destroy, damage, alter, modify or change the Work in any way whatsoever. ARTICLE 10 - REPAIRS Collector covenants that in the event of any damage to the Work, Collector shall consult with Artist prior to the commencement of any repairs or restoration and if practicable Artist shall be given the opportunity to make any required repairs or restoration. ARTICLE 11 - RENTS In the event that Collector shall become entitled to any monies as rent or other compensation for the use of the Work at public exhibition, the Collector shall pay a sum equal to one-half of said monies to (Artist) (Artist's agent as set forth in article 2 herein) within thirty (30) days of the date when Collector shall become entitled to such monies. ARTICLE 12 - REPRODUCTION Artist hereby reserves all rights whatsoever to copy or reproduce the Work. Artist shall not unreasonably refuse permission to reproduce the Work in catalogues and the like incidental to public exhibition of the Work. ARTICLE 13 - NO-ASSIGNABILITY No rights created in the Artist and for the Artist's benefit by the terms of this agreement shall be assignable by Artist during the Artist's lifetime, except that nothing herein contained shall be construed as a limitation on Artist's rights under any copyright laws to which the Work may be subject. ARTICLE 14 - NOTICE Artist and colector mutually covenant that there shall be permanently affixed to the Work a notice of the existence of this agreement and that ownership, transfer, exhibition and reproduction of the Work are subject to the convenants herein, said notice to be in the form of the specimen hereunto annexed and made a part of this agreement. (a) Because the Work is of such nature that its existence or essence is represented by documentation or because documentation is deemed by Artist to be part of the Work, the permanent affixing of said notice to the documentation shall satisfy the requirements of this article. ARTICLE 15 - TRANSFEREES BOUND In the event the Work shall herafter be transferred or otherwise alienated from Collector or Collector's estate in any manner whatsoever, any transferee, taking the Work with notice of this agreement shall in every respect be bound and liable to perform and fulfill each and every convenant herein as if such transferee had duly made and subscribed a properly executed TRANSFER AGREEMENT AND RECORD in accordance with article 2 and article 5 herein at the time the Work was transferred to him or her. ARTICLE 16 - EXPIRATION This agreement and the convenants herein shall be binding upon the parties, their heirs, legatees, executors, administrators, assigns, transferees and all other successors in interest and the Collector's convenants do attach and run with the Work and shall be binding to and until twenty-one (21) years after the deaths of Artist and Artist's surviving spouse, if any, except that the convenants set forth in article 7, article 8 and article 10 herein shall be binding only during the life of the Artist. ARTICLE 17 - WAIVERS NOT CONTINUING Any waiver by either party of any provision of this agreement, or of any right hereunder, shall not be deemed a continuing waiver and shall not prevent or estop such party from thereafter enforcing such provison or right, and the failure of either party to insist in any one or more instances upon the strict performance of any of the terms or provisions of this agreement by the other party shall not be contrued as a waiver or relinquishment for the future af any such terms or provisions, by the same shall continue in full force and effect. ARTICLE 18 - AMENDMENT IN WRITING This agreement shall not be subject to amendment, modification, or termination, except in writing signed by both parties. ARTICLE 19 - ATTORNEYS' FEES In the event that either party shall hereafter bring any action upon any default in performance or observance of any convenant herein, the party aggrieved may recover reasonable attorneys' fees in addition to whatever remedies may be available to him or her. In witness whereof, the parties have set their hands and seals to this agreement as of the day and year first above written. Specimen - Specimen - Specimen NOTICE Ownership, transfer, exhibition and reproduction of this Work of art are subject to convenants set forth in a certain agreement made the ________ day of __________________________ 19 ___ , by and between _______________________ __________________ ___________________________________________ (Artist) and________________________________________ the original of which is on file with ________________ ___________________________________________ __________________ at _________________________________________ (Collector) ___________________________________________ Specimen - Specimen - Specimen TRANSFERAGREEMENT AND RECORD TO: Know ye that _____________________________________ residing at ______________________________________________________ has this day transferred all his right, title and interest in that certain Work of art known as: Title: Identification #.: Date: Material: Dimensions: Description: to ______________________ residing at ________________________________, transferee at the agreed price or value of _________________________________. Transferee, hereby expressly ratifies and affirms all the terms of that certain agreement made by and between ________________________________ and _____________________________ on the ______ day of ________________, 19 ___, and agrees to be bound thereby and to perform and fulfill all of Collector's convenants set forth in said agreement. Done this _______ day of ________________, 19 ____. at ____________________________ ___________________________________ ___________________________________