COLLECTION OF THE WORK AND PASSING OF TITLE AND RISK OF LOSS

4.1 You are responsible for arranging for pick up of the work from our premises in New York City after payment in full of the purchase price has been made. Any such pick up must be scheduled during regular business hours and at a mutually agreed time and date.

4.2 From the time and date of agreed collection of the work from Newel, you will be responsible for the work and the risk of loss or damage shall pass to you.

4.3 Title to the work shall pass from Newel to you when the purchase price is paid in full. If Newel has agreed to allow you to have possession of the work before full payment of the purchase price has been made, you agree to: (a) keep possession of the work and insure it for not less than the purchase price, and not sell it or hand it over to any other person or dispose of any interest in the work; (b) allow Newel or a third party acting on Newel’s behalf to have access to the work in order to inspect it; and (c) preserve the work in the same state as it was on delivery and in particular, not restore, repair, clean or reframe the work.