spence munsinger studio shop
artist & painter
373 Oak Street, Franklin MA 02038
phone: 508-488-0852
All works are sold with a
Certificate of Authenticity and Contract
that include complete documentation for your protection.
Please read this Contract.
CONTRACT
for the Sale of an Artwork with Moral Rights and Resale Royalty Rights
AGREEMENT
made as of the ____ day of ____________, 20____,
between D. Spence Munsinger
(hereinafter referred to as the “Artist”),
located at
373 Oak Street, Franklin, MA 02038,
and ____________________________________________
(hereinafter referred to as the “Collector”),
located at ________________________________________________________________,
with respect to the sale of an artwork
(hereinafter referred to as the “Work”).
WHEREAS, the Artist has created the Work and has full right, title, and interest therein; and
WHEREAS, the Artist wishes to sell the Work; and
WHEREAS, the Collector has viewed the Work and wishes to purchase it; and
WHEREAS, the Artist wishes to have a continuing relationship with the Work after its sale, including the right to borrow the Work (applies to originals only) periodically for exhibition, restore the Work if necessary, receive a residual payment if the Work is resold, and be acknowledged as the creator of the Work; and
WHEREAS, both parties wish to maintain the integrity of the Work and prevent its destruction;
NOW, THEREFORE, in consideration of the foregoing premises and the mutual obligations, covenants, and conditions hereinafter set forth, and other valuable considerations, the parties hereto agree as follows:
1. Description of Work. The Artist describes the Work as follows:
Title: _________________________________________________________
Medium: ___________________________________Size: ________________
Year of Creation: _____________Signed by Artist: [ ] Yes [ ] No
Framing or Mounting: _____________________________________________
If the Work is part of a limited edition, indicate the method of production ______________________; the size of the edition__________; how many multiples are signed__________; how many are unsigned__________________; how many are numbered_________; how many are unnumbered_________________; how many proofs exist__________; the quantity of any prior editions_________; and whether the master image has been cancelled or destroyed [ ] yes[ ] no.
2. Sale. The Artist hereby agrees to sell the Work to the Collector. Title shall pass to the Collector at such time as full payment is received by the Artist pursuant to Paragraph 4 hereof.
3. Price. The Collector agrees to purchase the Work for the agreed upon price of $__________, and shall also pay any applicable sales or transfer taxes.
4. Payment. Payment shall be made in full upon the signing of this Agreement.
5. Delivery. The [ ] Artist [ ] Collector shall arrange for delivery to the following location: ______________________ ______________________________________________no later than___________, 20_______. The expenses of delivery (including, but not limited to, insurance and transportation) shall be paid by the Collector.
6. Risk of Loss and Insurance. The risk of loss or damage to an Original Work and the provision of any insurance to cover such loss or damage shall be the responsibility of the Collector from the time of receipt of the Original Work by the Collector. Signed and numbered Limited Editions are guaranteed for the lifetime of the original owner against deterioration or damage and will be replaced under any circumstances if at least 51% of the Work is returned to Studio Elena Roche.
7. Copyright and Reproduction. The Artist reserves all reproduction rights, including the right to claim statutory copyright, in the Work. The Work may not be photographed, sketched, painted, or reproduced in any manner whatsoever without the express, written consent of the Artist. All approved reproductions shall bear the following copyright notice: © by (Artist’s name) (Year____).
8. No destruction. The Collector shall not destroy the Work or permit the Work to be destroyed without first offering to return ownership of the Work to the Artist or his or her successors in interest.
9. Integrity. The Collector shall not distort, mutilate, or otherwise alter the Work. In the event such distortion, mutilation, or other alteration occurs, whether by action of the Collector or otherwise, the Artist shall, in addition to any other rights and remedies, have the right to have his or her name removed from the Work and no longer have it attributed to him or her as its creator.
10. Attribution. The Artist shall, at all times, have the right to have his or her name appear with the Work and to be acknowledged as its creator.
11. Right to Exhibit. The Artist may borrow an Original Work (not a limited edition) for up to ___ days once every ___ years for exhibition. The Artist shall give the Collector written notice no later than ___ days before the opening and shall provide satisfactory proof of insurance and prepaid transportation. All expenses of the loan to the Artist shall be paid for by the Artist.
12. Restoration. In the event of damage to the Work requiring restoration or repair, the Collector shall offer the Artist the first opportunity to restore or repair the Work and, in any case, shall consult with the Artist with respect to the restoration or repairs.
13. Resale Proceeds. On resale or other transfer of the Work, the Collector agrees to pay the Artist 10% percent of the gross sale price received or, if the Work is transferred other than by sale, to pay 10% percent of the fair market value of the Work as of the date of transfer.
14. Miscellany. This Agreement shall be binding upon the parties hereto, their heirs, successors, assigns, and personal representatives. This Agreement constitutes the entire understanding between the parties. Its terms can be modified only by an instrument in writing signed by both parties. A waiver of any breach of any of the provisions of this Agreement shall not be construed as a continuing waiver of other breaches of the same or other provisions hereof. This Agreement shall be governed by the laws of the State of California.
IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first set forth above or as otherwise indicated below.
Artist __________________________Date_____________________
Collector _______________________Date______________________