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November 22, 1926

de Hauke& Co., Inc.,
3 East 51st Street,
New York City. 

Dear Sirs:

In order to provide rooms for your business venture and for exclusive use for exhibition of and dealing in modern Works of Art, such as paintings, pictures, carvings, or other objects of any kind or materials, and officers, therefor, we take pleasure in granting you permission to occupy such rooms as we shall be able to let you have for said purpose. In consideration of this permission, de Hauke & Co., Inc., will pay to Jacques Seligmann & Co., Inc., the sum of Three Thousand Dollars ($3,000) per year in quarterly payments, payable in advance. 

It is understood that such part of our premises which are occupied by you will be entirely at your own risk and that Jacques Seligmann & Co., Inc., is discharged of all responsibility in regards to exhibition or the operation of your business. 

It is distinctly understood that you will insure the Works of Art and other objects which are the property of your company or which are in your care, and whatever risk you will introduce by yourself will be at your own risk.

Furthermore, whatever electric wiring that will be done will have to be done by a licensed electrician who must obtain a regular certificate from the New York Board of Fire Underwriters. 

The permission to occupy the rooms assigned will continue until this corporation or de Hauke & Co., Inc., elects to give three (3) months notice of termination. Then this permission shall expire, if you have not removed voluntarily from our premises, we shall have the right to retake possession by force, summary dispossess proceedings or in any other manner that the law will permit, or if during the period you shall fail to pay any sum of money which becomes due to us as aforesaid or shall refuse to conduct your business in such manner as will be suitable for our premises or to occupy such space as we from 
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