Osian's Auction Catalogue The Masterpieces and Museum Quality Series | October 2004

OSIAN ’ s–CONNOISSEURS OF ART 198 17. Collection of Purchases i The Purchaser shall at his/her own expense take delivery of the Lot purchased not later than 7 days after the date of the Auction, but not before payment of the Purchase Price as required by Osians. ii The Purchaser shall solely be responsible for packing, insurance, and forwarding of the Lot(s) purchased by him/her. iii The Purchaser shall be liable to pay Osians all removal, storage and insurance charges imposed by Osians on the Lot not collected by the Purchaser within 7 days after the date of the Auction. iv On specific instructions of local Purchasers, Osians may undertake packing, handling and insurance. All costs towards the same as determined by Osians shall be borne fully and paid by the Purchaser. This service is being given solely as a courtesy to local Purchasers, and will be undertaken at Osians discretion. In no event will Osians be liable for damage, regardless of cause. While Osians may recommend packers and shippers, Osians shall not in any way be responsible for their errors, omissions or negligence whatsoever. However, in case of inter-state sale or export sale, the costs and expenses towards insurance, packing, handling and transportation shall be undertaken by Osians, which shall be reimbursed by Purchasers at a price determined by Osians. 18. Purchaser’s Responsibilities for Lots Purchased The Purchasers shall be solely responsible for loss or damage to Lots purchased after the period specified in Clause 17 (i), and neither Osians or it’s employees or agents shall thereafter be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any Lot is in the custody or under control of Osians. 19. Provenance All intending Purchasers are hereby advised that Seller shall provide Osians for each Lot, a guarantee letter that such Lot is created/owned by such Seller. Due care and diligence has been taken by Osians to verify the provenance, authenticity and origin of each Lot. 20. Guarantee in respect of counterfeit Lot: If, after sale by Osians, any Lot is proved to be counterfeit or fake, Osians undertakes to set aside the sale and refund to the Purchaser the amount paid by him in connection with the Lot subject to the following conditions: i. that within three (3) years of the date of the sale, the Purchaser shall notify Osians in writing of the number of the Lot, the date of the Auction at which it was purchased and the reasons as to why the Purchaser considers the Lot to be counterfeit along with a bonafide expert’s report clearly specifying reasons for such claim. Osians shall not to be liable to any claims after completion of the period of three (3) years. ii. that the Purchaser is able to transfer good title to Osians free from any third party claims arising after the date of sale to him/ her. iii. that the Purchaser returns the Lot to Osians in the same condition as at the date of sale by Osians. On receipt of the claim, Osians shall have the right to request the Purchaser to obtain at the Purchaser’s cost, the reports of two (2) independent experts in the field, mutually acceptable to the Purchaser and Osians, setting out the reasons in full as to why the Lot in question is considered to be counterfeit. Osians agrees that it will give due consideration to any such expert reports. However, Osians reserves the right to seek additional independent advice/ report and/or submit such Lot to Osians’ Authentication Committee for reconsideration, before making its final determination as to whether the Lot is counterfeit or genuine and shall not be bound by any expert report submitted by the Purchaser. If Osians accepts the claim of the Purchaser that the Lot is counterfeit, Osians shall refund to the Purchaser the Hammer Price and Buyer’s Premium as paid by the Purchaser to Osians at the time of purchase excluding taxes, duties and levies paid/payable to any Government or Municipal Authority by Osians provided always that the benefit of the guarantee and the refund amount is not capable of being transferred and is solely for the benefit of the purchaser. Osians shall in no way be responsible for any loss, damage or any other liability incurred by any third party due to genuineness, origin, attribution, condition, ownership, provenance, age or estimated price of any Lot. 21. Condition of Lots All Lots are auctioned as shown, with all faults, imperfections and errors of description. Osians shall not be in any way responsible for errors of description or for genuineness or authenticity of any Lot, or for any fault or defect in it. Intending Purchasers should inspect a Lot before bidding to determine its condition, size, or whether or not it has been repaired, restored or damaged. Osians has referred to restoration in works where it has been brought to its knowledge. The absence of reference to damage and/or restoration does not imply that the Lot is free from defects. Any representation in the Auction Publication pertaining to authorship, origin, date, age, size, medium, attribution, provenance, condition, or estimated price is a statement of opinion only. 22. Non-payment or Failure to Collect Purchases If the Purchase Price for any Lot is not received by Osians in full or if any Lot is not collected by its Purchaser in accordance with Clause 12, Osians shall be entitled to - i charge 2% of the Hammer Price as storage charges for every subsequent week thereafter; ii dispose of the Lot as Osians deems appropriate, without giving any notice to the Purchaser and forfeit all amounts paid by the Purchaser in respect of such Lot; iii proceed against the Purchaser for damages for breach of contract; iv rescind the Sale of that or any other Lot or Lots sold to the defaulting Purchaser at the Auction; v resell the Lot or cause it to be resold by public auction or private sale and the defaulting Purchaser shall pay to Osians any resulting deficiency in the purchase price (after deduction of any part payment and addition of resale costs and charges) and any surplus shall belong to Osians. vi charge interest at a rate not exceeding two percent on the Purchase Price to the extent the Purchase Price or any part thereof remains unpaid for more than ten days after the date of the auction; vii retain that or any other Lot sold to the same Purchaser and release such Lot or any other Lot only after receiving payment of the Purchase Price in respect of each Lot purchased by the Purchaser; viii reject or ignore any bids made by or on behalf of the defaulting Purchaser at any future auction or sale or obtain a deposit from the Purchaser before accepting any bids in future; and ix to apply any proceeds of sale then or at any other time becoming due to the defaulting Purchaser towards settlement of the Purchase Price and to exercise lien on any property of the defaulting Purchaser which is in Osians possession for any purpose.