Viewing page 35 of 36

This transcription has been completed. Contact us with corrections.

a commission on any sale of such picture made during the period of its display at the gallery, whether or not any such sale was negotiated or consummated by Gallery, the commission to be determined as follow:

If the painting or picture sold is owned by Dealer, then the commission shall be     % of the sale price.

If the painting or picture sold shall not be owned by Dealer, the commission shall be      % of the profit made by the Dealer on such sale.

All such commissions shall be payable promptly upon the consummation of each sale.

3. In the event of a sale of a picture during the period of its display in connection with such exhibition, the Dealer agrees nevertheless to continue to leave such picture on display for the duration of the period specified above unless and until the Dealer has replaced it by another picture ^[[(]]approved by Gallery and by the Exhibitor.^[[)]]

4. The Dealer agrees that any and all pictures which may be placed in or on the premises of Gallery or which may be in transit to or from said premises by virtue of this agreement shall be at the sole risk of the Dealer, who hereby agrees to carry appropriate insurance on all such pictures or arrange that the persons having the insurable interest therein carry such insurance, and Dealer hereby agrees that, if any of such paintings or pictures shall be stolen, lost, destroyed or damaged by fire, water, or by use of electric wiring or fixtures, or by steam or water pipes or fixtures, or leaking or breaking pipes, falling plaster, rain or snow, which may leak from any part of said building at 554 Madison Avenue, New York, New York, by acts of any person or from any other cause, neither Gallery nor the Exhibitor shall be liable for any such destruction,

-2-