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Home My WebLink About12- Fine Art Bailment Agreement for installation at City Hall Fine Art Bailment Agreement For Installation at Bozeman City all This Agreement is made this Iq day of September, 2012 between Craig W. Hergert, Montana Panoramic, referred to as Owner, and the City of Bozeman. Bozeman, Montana, referred to as the City. In consideration of the following, the parties agree as follows: Section [Inc: Subject Matter of Loan The personal property described below, referred to as the "Art," is loaned by the Owner to and received by the City upon installation at Bozeman City Hall, located at 121 North Rouse Avenue, for the purposes to display the Art to the public. The Art is described as follows: [include a brief physical description of the Art, including materials, colors, name if any, etc.] and is depicted on the attached photograph(s). I. 2. 3. 4. S. 6. 7. At the time of loan to the City the value of the Art is S--%2- So [write out the dollar value, too]. The basis for the valuation is the Owner's estimate of the fair market value of the Art at the time of installation at City Hall. The City agrees to this valuation subject to an appraisal upon a claim per Section VI of the Memorandum of Liability Property Coverage as described in Section Four of this Agreement, below. Section Two- Duration of Loan Zq The Art loaned to the City shall remain in the possession of the City for a period of*1w,-4ie P-21r) months from the date of this Agreement or from the date the Art installation is complete, whichever date is later. This Agreement may be renewed for any additional period of time not to exceed one year by mutual written consent of the parties. During this time the Art may be removed by the Owner subject to notice to the City. Fine Art Bailment Agreement for Installation at Bozeman City Hall Page 1 of 4 Section Three Surrender of Property to Owner The Art will be returned only to Owner or Owner's authorized agent or representative or, in the event of death of the Owner to the authorized legal representative of the estate of Owner. If the Art is to be returned to any other person or entity the Owner must provide written notarized authority to the City. Section four: Care of Art& Insurance The City will exercise the care in respect to the Art as the City does in safeguarding its own property and, as described below, upon installation of the Art and continuing for the duration of this Agreement the City accepts responsibility for the Art described herein against Los's or damage. Upon installation of the Art or upon signing of this .Agreement, whichever is later,the City shall submit this Agreement and the attached photograph(s) to the Montana Municipal Interlocal Authority for inclusion on the City's schedule of covered property. The City shall provide primary property coverage only when the Art is in its care, custody, and control. The coverage is subject to all terms and conditions of the Memorandum of Property Coverage, in place at time of a claim or occurrence. In addition to the limits of coverage and the exclusions in the Memorandum,. the Owner recognizes the Art is to be displayed at Bozeman City Hall and the City shall accept no responsibility or coverage for damage or wear to the Art. For any claim covered by the Memorandum regarding property damage to the Art the Owner agrees to assume responsibility for the payment of any required deductible. The parties recognize the value of the Art listed in Section One has not been established by an independent professional appraisal. Upon the filing of a claim for coverage under the Memorandum, the City may, in its discretion, obtain a certified professional appraisal of the Art at the Owner's sole expense. The City must agree to the appraiser. In no case shall the value of the Art as determined by an appraisal upon a claim exceed the value agreed to by the parties in Section One. If the Owner has other property insurance or similar covering the Art the Owner must notify the City of such coverage and in such case agrees the City's coverage is excess coverage. Section Five: Condition of Art at Time of Loan The absence of any notation on this Agreement as to the condition of the Art at the time it was received by the City shall mean it was in good condition upon receipt.. Section Six: Change of Address It is incumbent on the Owner to notify the City of any change of address. In case of the Owner's death, their legal representative shall notify the City in writing within 180 days of the death, with information as to wham and where notices should be sent. Dine Art Bailment Agreement for Installation at Bozeman City Hall Page 2 of 4 SectionSeven:,Photogr hsandUseoftheArt Unless the City is notified in writing to the contrary, it is understood the Art may be photographed and reproduced in the publications of the City of Bozeman or displayed on the City of 13ozernan's website for publicity purposes. Section Eight: Alteration or Change of Agreement The conditions prescribed in this Agreement shall apply to the Art described in Section One and such conditions cannot be altered, changed, waived, or otherwise affected except by written consent of the City and the Owner. Section Nine: Miscellaneous This Agreement shall be governed by the laws of the State of Montana. Venue shall be in the Eighteenth Judicial District Court. This Agreement may not be assigned by either party without the express written consent of the other, in advance. Either party may terminate this Agreement upon 30 days written notice to the other party. The Owner warrants that it has all right. title and ownership interest in the Art and that the Art is not subject to any ownership, lien, encumbrance, copyright infringement or other claim by any other person or entity. Owner agrees that it shall not take any action to limit or affect this warranty during the terror of this Agreement unless it obtains the advance written agreement of the City. IN WITNESS WHEREOF, each party has caused this Agreement to be executed on the date indicated below. CITY OF BOZEMANq— 14 - I Z- (date) by Its #'-r v &vux og!r or(W R, 2 C W. erggeM, Montana Panoramic lq�/497ate) Fine Art Bailment Agreement for Installation at Bozeman CiN,Ball Page 3 of 4 Address: t '� l ' � City, Stag, Zip Code: Fine .Art Bailment Agreement for installation a1 Bozeman Cate I fall Page 4 of'4 MONTANA COMPANY W W W M 0 N T A N A P A N 0 R A M I C C 0 M City of Bozeman photo display "Valley of Flowers" 72x18 canvas wrap print, limited edition - signed: $1075 "Downtown" 60 x 18 canvas wrap print, limited edition - signed: $1075 "Downtown" 60 x 18 canvas wrap print, limited edition - signed: $1075 "3 Dollar Bridge" 72 x 18 canvas wrap print, limited edition - signed: $1175 "Jefferson Crossing" 96 x 24 canvas wrap print, limited edition - signed, $1975 "Blackmore Spring" 72 x 24 canvas wrap print, limited edition - signed: $1725 "Little Bear Gold" 72 x 24 canvas wrap print, limited edition - signed: $1725 Total: $9,825 II III �rl r/r i I 1 /ail I fy/ it rw✓/%/. 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