DEIBLER - Laserfiche WebLink

~ ~ LEASE AND OPTION TO PURCHASE FOR ART WORK THIS LEASE AND OPTION TO PURCHASE is made between the CITY OF PLEASANTON, a municipal corporation ("City") and James Deibler ("Artist"). WITNESSETH: July 15, 2004 WHEREAS, City desires to lease and to have an option to purchase a certain work of art, described and/or depicted in Exhibit A (the "Work"), which has been conceived and designed by Artist; and WHEREAS, Artist is willing to lease and to transfer ownership of the Work to City upon full payment therefore by City; NOW, THEREFORE, the parties hereto agree as follows: Lease. City shall lease the Work from Artist for three months, beginning July 15, 2004, and ending October 15, 2004, for the purpose of public display and to receive public comment thereon regarding the Work. City may terminate the Lease at any time during the lease period. City shall pay Artist $100 per month for each month, or part thereof, of the Lease, payable at the end of the lease period upon City's receipt of an invoice from Artist. 2. Option to Purchase. City shall have an option to purchase the Work, which option may be exercised any time during the lease period. If City exercises its option to purchase, the purchase price shall be $500.00 (Five Hundred Dollars and no Cents) less any lease payments that the City has made. If at the end of the lease period City elects not to exercise its option to purchase, City shall return the Work to Artist. 3. Representations and Warranties. Artist presents and warrants that the Work will be free from any defects in materials and workmanship, and that the Work is free and clear of any liens or encumbrances from any source and of any kind or nature whatsoever. Artist represents and warrants the Work against all defects, including cracking, chipping, peeling or fading, in its design, workmanship and materials for a period of three (3) years following its purchase by City and if any such defect occur in this period, Artist shall promptly and satisfactorily repair, correct, or replace the defective portion at Artist's own expense. Artist further represents and warrants that the Work is solely the result of the artistic and creative effort