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CONDITIONS GOVERNING RECEIPT OF LOANS

Objects lent to The Gallery of Modern Art for exhibition shall remain in its possession for the time specified on the face of this receipt, but may be withdrawn from exhibition at any time by the Director or by the Trustees.

Loans will be returned only to the owner or lender or to his or her duly authorized agent or representative.

Under terms of this agreement The Gallery of Modern Art will exercise the same care in respect to all loans as it will in the safekeeping of its own property.

Objects lent to The Gallery of Modern Art at its request will be insured by the Gallery under a fine arts policy against all ordinary risks in transit and while in its possession. The Gallery will insure invited loans at the valuation requested by the lender, which request must be in writing. When written notice of valuation is not given, the Gallery will insure invited loans at its own estimated valuation. The insurance referred to excludes loss or damage caused by war, invasion, hostilities, rebellion, insurrection, confiscation by order of any government or public authority, risks of contraband or illegal transportation and/or trade.

Otherwise the lender may continue his own insurance for the period of the loan. The Gallery, however, will not accept responsibility for any errors or deficiencies in information furnished to the lender's insurers, or for lapses in insurance coverage, arising from this practice.

The right of the Gallery of Modern Art to return any property shall accrue absolutely on the date of and by mailing the notice to the owner to withdraw said property for any of the following reasons: it is declined by the Gallery, the loan period has terminated or the Gallery no longer desires the loan therof. If the owner shall not withdraw such property within thirty (30) days from the date of such notice, then the Gallery shall have the absolute right to dispose of such property in any manner it may elect, and if it stores such property to charge regular storage fees therefor and to have and enforce a lien for such fees. If after five years such property shall not have been withdrawn, and in consideration for its storage and safeguarding during this period, it shall be deemed an unrestricted gift to The Gallery of Modern Art.

Unless The Gallery of Modern Art is notified in writing to the contrary it is understood that objects lent to it may be photographed and reproduced in the Gallery's publications and for publicity purposes connected with the exhibition, and that slides of the loan may be made and distributed for educational use.

The aforesaid conditions shall apply to all objects sent to the Gallery on loan and cannot be altered, changed, waived or otherwise affected except by written consent of The Gallery of Modern Art.