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Conditions Covering All Loans:

1.         Lender warrants and represents to Borrower that Lender is the sole and legal copyright holder and sole and legal owner of the Art identified above.

2.         The person executing this Agreement on behalf of each party hereby warrants and represents that he or she has the full competency, power and authority to bind such entity in accordance with the terms of this Agreement, including, without limitation, any assignment hereunder, and that no further corporate or other action is required to make this Agreement and any assignment hereunder valid and binding.

3.         Borrower will exercise care in respect to the loaned objects.  Loaned objects shall not be cleaned, repaired, retouched or altered in any way whatsoever, except with written permission of the Lender.

4.         Loans shall remain in Borrower’s possession throughout the Loan Period set forth in this agreement, but Borrower shall have complete discretion as to whether or not to exhibit the loaned objects and as to the length of time such objects shall remain on exhibition. 

5.         Unless Borrower is notified in writing to the contrary, it is understood that this loan may be photographed by Borrower for any reason, including for use in publications and/or marketing materials and publicity in connection with this exhibition.

6.         Borrower will insure loaned objects and/or pay for the cost of insurance to ship loaned objects, during transit to and from Borrower’s premises, if such loaned objects are transported by Borrower or are shipped to Borrower from Lender at Borrower’s expense.  Lender is responsible for insurance coverage during transit to Borrower’s premises if Lender elects to pay the cost of shipping.  Unless Lender elects in writing to maintain his or her own insurance coverage, Borrower, to the extent of its negligence, will insure loaned objects under its policy at its expense, for the amount indicated in this Agreement, against physical loss or damage while on location during the period of the loan, subject to any exclusions contained in the applicable policy of insurance (i.e. loss or damage caused by gradual deterioration, acts of terrorism, war, or other exclusions as outlined in the applicable insurance policy).  Lender agrees that in the event of loss or damage, recovery, if any, shall be limited to such amount as may be paid by the insurer, hereby waiving any right of subrogation and releasing Borrower, its officers, agents, and employees from liability for any and all claims arising out of such loss or damage, except for such amount not paid by the insurer because of a deductible provision contained in the policy.

7.         If Lender elects in writing to maintain his or her own insurance coverage, Borrower must be supplied with a Certificate of Insurance, naming Borrower as an additional insured or waiving subrogation against Borrower.  Otherwise, this Agreement shall constitute a release of Borrower, its officers, agents, and employees from liability for any and all claims arising out of loss or damage to loaned objects.  Borrower shall not be responsible for any loss or damage to loaned objects occurring while on location during the period of the loan.

8.         This Agreement shall be governed by and interpreted in accordance with the laws of the state of Texas, and the exclusive venue for any action arising pursuant to this Agreement will be Lubbock, Texas.

9.         This Agreement constitutes the entire agreement between Lender and Borrower regarding the loaned objects identified above.  No oral understanding or agreement not incorporated herein will be binding on either party.