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THE PACE GALLERY

November 13, 1979

Mr. James A. Aliber, Chairman
First Federal Savings & Loan of Detroit
1001 Woodward Avenue
Detroit, Michigan 48226

Dear Mr. Aliber:

Tony Smith and we have given considerable thought to your interest in a major Smith sculpture for the site of First Federal Savings and Loan of Detroit. We are particularly sympathetic to your concern that an approprite selection be made through careful deliberation.

In order to facilitate this process of selection, we would like to propose the following. Tony Smith agrees to be retained as a consultant for this project. In this position he will provide, within 90 days of the signing of our agreement, a model of his proposed sculpture for the Detroit site. As is the case with nearly all Tony Smith sculptures, this monumental work, as proposed, will be intended to exist in an edition of 3. If this work is purchased by First Federal, the remaining two sculptures in the edition will not be sold to any party in the state of Michigan. The model will remain the property of the artist, whether or not you elect to commission the fabrication of the full-scale sculpture.

For these services, Tony Smith will receive a consultation fee of $15,000, payable to The Pace Gallery of New York, as the exclusive agent for the artist. Payment will be due upon the delivery of the completed model. Should the proposal be accepted for construction in its monumental scale, the consulting fee of $15,000 will be applied to the purchase price of the completed sculpture.

Should you wish to discuss this proposal further, I would be delighted to do so. I look forward to hearing from you in this regard.

32 EAST 57 STREET/NEW YORK,NEWYORK 10022/(212)421-3292/CABLE:PACEGALRY/TELEX:421062/ARNOLD B. GLIMCHER, PRESIDENT