HomeMy WebLinkAbout01-16-2020 - CAC - Additional HandoutNirrrobr Bi.icii
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Purchase Agreement
Between The Newport Beach Arts Foundation (NBAF) and
Karl Unnasch
The Agreement is made on this 15'h day of January, 2020, by and between the Newport Beach Arts
Foundation, a 501(c)(3) a California corporation located in Newport Beach California, p.o. Box 11325
Newport Beach, CA 92658 ("Foundation") and Karl Unnasch, 31314 Hwy. 30 Chatfield, MN 55923
("Artist").
RECITALS
A. The Foundation desires to purchase a sculpture titled Burnt Matchstick ("Art Work") created by
Artist Karl Unnasch, a description of which is attached as Exhibit A to this Agreement. The Art Work
will be gifted to the City of Newport Beach, California for exhibition in the city.
B. Artist owns the Art Work and desires to sell it to the Foundation. The Art Work is being purchased
at its current location in the Newport Beach Civic Center.
C. At time of purchase all electrical components to be in working order.
D. Artist warrants that he possesses all rights and authority necessary to sell the Art Work to the
Foundation and to enter into this agreement.
NOW, THEREFORE, in consideration of the foregoing and the promises contained herein, the Foundation
and Artist mutually agree as follows:
1. Terms and Conditions
1.1 A total purchase price of 955,000 paid in five (5) installments of 511,000 a year
starting with July 1, 2020.
1.2 PriortofirstinstallmenttheCityCouncilofNewportBeachmustapprove
accepting the gift of the Art Work from the Foundation, and reach agreement with the City Arts
Commission on where the Art Work will be displayed. If the Art Work is to be moved, the City will
assume all costs of the move. The City agrees that it will ensure that the Art Work is in working
order, and will provide maintenance of the Art Work for the life of the piece.
1.3 The City Arts Commission has pledged to use due diligence to secure City
approvals for the acceptance and display of the Art Work.
1.4 IftheCityhasnotagreedtoaccepttheArtWorkbyJune30,2020,thenthis
contract to purchase said Art Work is null and void.
2. Advertising and Use of Images
2.1 TheCityandFoundationshallhavetherighttoreproduce,distribute,and/or
display representations of the Art Work in any non-commercial manner
whatsoever. For the purpose of this limitation, the reproduction,
representation, distribution and display of the Art Work or materials, designed
solely to promote the City and/or the Foundation, its services or to attract
visitors or businesses shall be deemed non-commercial.
3. Notices
3.1 All notices, demands, requests or approvals, including any change in mailing
address to be given under the terms of this Agreement shall be given in writing
and conclusively shall be deemed served when delivered personally, or on the
third business day after the deposit thereof in the United States mail postage
prepaid, first-class mail, addressed as hereinafter provided. All notices,
demands, requests or approvals from Artist to Foundation shall be addressed to the Foundation at:
Newport Beach Arts Foundation
Attention: President
p.o. Box 11325
Newport Beach, CA 92658
3.2 All notices, demands, requests or approvals from Foundation to Artist shall be
addressed to Artist at:
Karl Unnasch
31314 Hwy. 30
Chatfield, MN 55923
IN WITNESS WHEREOF, the parties have executed this Agreement on the dates written below.
NEWPORT BEACH ARTS FOUNDATION
A 501(c)(3) a California corporation
ARTIST: Karl Unnasch
Date:Date:
Patricia Jorgensen, President
Newport Beach Arts Foundation
[END OF SIGNATURESI
ATTACHMENT: ExhibitA: DescriptionofArtWork
Karl Unnasch
p.o. Box 11325 * Newport Beach, CA 92658-9998
www.newportbeachartsfoundation.org
EXHIBIT A
DESCRIPTION OF ART WORK
ARTIST NAME: Karl Unnasch
TITLE OF ARTWORK: Burnt Matchstick
Size: 40' x 3' x 3'
Weight: 4000 Ibs.
Medium: steel, stained glass, clear acrylic, LED lighting.
Date Completed: 2015
Location: Chatfield, MN
Honorarium: $6,000
For sale: $70,000
Image:
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Karl Unnasch Page A-I