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61.H. - Page 14 <br />PURCHASE AGREEMENT FOR ARTWORK <br />This Purchase Agreement for artwork ("Agreement") is made and entered into on this <br />day of 2018 (the "Effective Date") by and among lkm and Emilia <br />Kabakov ("Artist"), Fung CoUgbmratives, Inc ("Consultant"), a California Corporation and the City <br />of Redwood City, a California municipal corporation ("City"). City and Artist are oonmednnms <br />referred to hereinafter individually as "Party" and collectively as "Parties." <br />RECITALS <br />WHEREAS, Artist has created m sculpture entitled "The Pirate Ship," which is described <br />on Exhibit ("Art and Artist Description"), which is attached hereto and incorporated herein by <br />reference. (For purposes of this Agreement, the "Pirate Ship" sculpture shall be known as the <br />.Axƒvmodt"1'and <br />'. <br />WHEREAS' Artist has offered to sell the Artwork and related repair instructions toCity <br />pursuant tothe terms ofthis Agreement; and <br />WHEREAS. Consultant has represented Artist in negotiating the eo|e of Artwork to the <br />City and Artist desires to have City nornit payment for the Artwork to the Consultant rather than <br />directly toArtist; and <br />WHEREAS, City now desires to purchase the Artwork from Artist pursuant to the terms <br />and conditions ofthis Aunmarn�ni'and <br />Agreement; <br />WHEREAS, subsequent to the purchase of the Artwork pursuant to this Agreement, City <br />intends to a*p|mne installation of the Artwork in g new park adjacent to the Redwood Shores <br />Library located at338Marine Parkway, Redwood Shores, CA.;and <br />WHEREAS. City and Artist desire to collaborate on a children's book project related to <br />the Artwork (the ^Chi|dnan'm Book Project"). <br />NOW THEREFORE' in consideration of the faithful performance of the terms and <br />conditions set forth in this Purchase Agreement, the Parties hereto agree as follows: <br />1. PURCHASE OF ARTWORK AND RELATED DOCUMENTS. The City agnaae to <br />purchase, and Artist agrees to sell, the Artwork. In connection with the sale of the Artwork, Artist <br />shall provide the design documents and repair instructions described in Exhibit (the "Repair <br />Documents"). <br />2. DELIVERY DATE. Prior to December 16' 2016 ("Required Da|kxary Date")' the <br />Artwork and Repair Documents must be shipped and must be delivered to the City atthe <br />following address: 939 Va|mtm Road, Flmdmmud Chv, CA. Any failure by the Artist to meet the <br />Required Delivery Date will constitute o nnotoha| default of this Purchase /\onoenngnL The Artist <br />must notify the Qb/ immediately if the /\rUat n*aamneb|y believes the Artist will not be eb|a to <br />meat the Required Delivery Date for any reason and provide the City with a schedule that the <br />/\diet reasonably believes it will be able to meet. It is within the City's discretion whether it will <br />accept the revised schedule. <br />REV: ��1-16o <br />Page 1 of 15 <br />AgneementhnAdmmrk-Kobakov-Fung <br />