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design is
waived by the Purchaser, upon commencement of the work;_________% upon the
completion of ________% of the construction of the Work; and ________% upon the
completion of the Work. The Purchaser shall also promptly pay the following
expenses to be incurred by the Artist in the course of creating the
Work:___________________________________________________________________________
__________________________________________________________________________________.
The Purchaser shall pay the applicable sales tax, if any, with the final progress payment. Completion of the Work is to be determined by the Artist, who shall use the Artist's professional judgment to deviate from the preliminary design as the Artist in good faith believes necessary to create the Work. If, upon the Artist presenting the Purchaser with written notice of any payment being due, the Purchaser fails to make said payment within two weeks of receipt of notice, interest at the rate of 12% shall accrue upon the balance due. The Purchaser shall have a right to inspect the Work in progress upon reasonable notice to the Artist.
3. Date of Delivery. The Artist agrees to complete the Work within _______ days of receiving the Purchaser's written approval of the preliminary design. This completion date shall be extended for such period of time as the Artist may be disabled by illness preventing progress of the Work. The completion date shall also be extended in the event of delays caused by events beyond the control of the Artist, including but not limited to fire, theft, strikes, shortages of materials, and Acts of God. Time shall not be considered of the essence with respect to the completion of the Work.
4. Insurance, Shipping, and Installation. The Artist agrees to keep the Work fully insured against fire and theft and bear any other risk of loss until delivery to the Purchaser. In the event of loss caused by fire or theft, the Artist shall use the insurance proceeds to recommence the making of the Work. Upon completion of the Work, it shall be shipped at the expense of the Purchaser to the following address specified by the Purchaser: ____________________________ ___________________. If any special installation is necessary, the Artist shall assist in said installation as follows: ______________________________________________________________________________
__________________________________________________________________________________.
5. Termination. This Agreement may be terminated on the following conditions:
(A) If the Purchaser does not approve the preliminary design, if applicable, pursuant to Paragraph 1, the Artist shall keep all payments made and this Agreement shall terminate.
(B) The Purchaser may, upon payment of any progress payment due pursuant to Paragraph 2 or upon payment of an amount agreed in writing by the Artist to represent the pro rata portion of the price in relation to the degree of completion of Work, terminate this Agreement. The Artist hereby agrees to give promptly a good faith estimate of the degree of completion of the Work if requested by the Purchaser to do so.
(C) The Artist shall have the right to terminate this Agreement in the event the Purchaser is more than sixty days late in making any payment due pursuant to Paragraph 2, provided, however, nothing herein shall prevent the Artist bringing suit based on the Purchaser's breach of contract. |