GONNELLI CASA D'ASTE ART ANCIEN, MODERNE et CONTEMPORAIN

1456 of the Italian Civil Code. In this case, the Auction House will still be entitled to payment by the Purchaser, as a penalty, amounting to 25% of the Total Price, except for any greater damage, and may, in any case, retain any advance payments made by the Buyer. Notwithstanding the foregoing, the Lots awarded by the Purchaser and not yet withdrawn, up to and including termination, over the aforementioned term, will be kept by the Auction House (in its warehouses or third parties: see § 12), at the Purchaser’s risk and expense, until the latter provides full payment of the amount due to the Auction House and the withdrawal of the Lots . 12. WITHDRAWAL – Unless otherwise agreed upon between the parties, the Purchaser, after having paid the Total Price, will have to withdraw the Lots awarded at his own expense, risk and expense, starting from the day following the last day of the scheduled auction and within the n. 7 (seven) days thereafter (a term that will remain suspended, in cases under the auspices of the Legislative Decree No. 42/2004, Code of Cultural Heritage, for the duration of the law regarding preemption) as would apply. Once the term has expired without notice, the Auction House will be exonerated from any responsibility in case of damages or thefts (total or partial) of the Lots, which occurred after the aforementioned term, renouncing the Buyer from now to any right or action towards the Auction House; furthermore, the Auction House will be able to provide, at its own unquestionable choice and at the Buyer’s expense, the deposit of the lots awarded at its own stores (in this case the additional amount of Euro 10 per day, per lot will be due from the Buyer to the Auction House) or third parties, or the shipment to the Purchaser of the Lots not withdrawn, in any case with direct charge to the Purchaser of any cost and expense, and except for any compensation for the greater damage. In case of shipment to the Purchaser, the parties will agree on the modalities of the shipment, it being understood that all charges, risks and costs will be borne by the Purchaser, with explicit exclusion of responsibility for the Auction House. It is understood that for Lotto shipments whose total price is up to € 10,000.00, the Auction House, upon request of the Purchaser, will be available to make the shipment in the interest of the Purchaser and by insured courier. 13. DECLARATION OF CULTURAL INTEREST, PRELATION AND EXPORT – The Buyers will be held, among other things, for the objects of the Lots submitted for the process of declaration of cultural interest (c.d. notification) ex art. 13 and ss. of the Italian D.Lgs. n. 42/2004 to comply with all the provisions of the Italian Code of Cultural Heritage and any other applicable law, customs, currency and tax matters. It is the Buyer’s sole responsibility to verify any restrictions on the export of the Batches awarded or any licenses or certificates required by law (issued or to be issued), with express exemption from any obligation and / or liability of the Auction House. In the event of exercising the right of pre-emption pursuant to arts. 60 and following, Italian D.Lgs. n. 42/2004, or of compulsory purchase pursuant to art. 70 of the same Law, the Purchaser cannot claim anything, for any reason, from the Auction House and / or the Seller, if not the only restitution of any amounts already paid as a result of the adjudication of the Lots. Lots possibly marked with the symbol (TI) are under temporary importation on Italian territory by a foreign Seller. The Lots may have already been the subject of a declaration of cultural interest by the Ministry of Cultural Heritage and Activities and Tourism pursuant to article 13 of the Code of Cultural Heritage. In this case - or in the case that in relation to the Lots the procedure for the declaration of cultural interest has been initiated pursuant to article 14 of the Urbani Code - the Auction House will communicate this in the catalogue and / or through an announcement by the auctioneer before the Lots in question are offered for sale. In the case that the Lots have been the subject of a declaration of cultural interest prior to the award, the Seller will report the sale to the competent Ministry pursuant to article 59 Code of Cultural Heritage. The sale of the Lots will be subject to suspension on the non-exercise by the competent Ministry of the right of pre-emption within the legal term (sixty days from the date of receipt of the complaint, or in the greater than one hundred and eighty days referred to in article 61 paragraph II of the Code of Cultural Heritage). Pending the deadline for exercising the preemption, the Lots cannot be delivered to the Buyer in accordance with the provisions of article 61 of the Code of Cultural Heritage. In any case, it is understood that any declaration of cultural interest (or even just the start of the related procedure) that occurs after the award cannot invalidate or invalidate the award, nor the obligation to pay the Total Price and in general the buying and selling of Lots. The shipment of the Lots abroad is subject to obtaining a document necessary for the export certificate of free circulation or a declaration of value (so-called DVAL), based on the Code of Cultural Heritage and subsequent provisions, where applicable. Obtaining the necessary documents for the export of the Lots is the sole responsibility of the Buyer; The Auction House may, at the request of the Purchaser and upon payment of the purchase invoice, proceed with the request for the licenses or the presentation of the declaration of value upon payment of a fee of Euro 50.00 for each of the Lots subject. of the complaint. If the Buyer does not want to entrust the management of the export file to the Auction House, he can contact a forwarder of his choice, after signing a Manleva and waiving any liability in favor of the Auction House. In any case, the Auction House will not be held responsible for any sort of problem concerning the export procedure, including the delay or refusal of obtaining the necessary documentation for the export of the Lots, whose timing and assessments depend exclusively by the competent Export Office. 14. DISPUTES – The Buyer expressly exonerates the Auction House and the seller from any responsibility for the authenticity, defects and characteristics of the Lots and renounces to make any claim, for any reason, against the Auction House. Any complaints by the Buyer about the counterfeiting or falsification or attribution or other non-manifest substantial defects of the Lots awarded (or parts thereof), will be received by the Auction House which will inform the Seller within the essential deadline of number 10 (ten) days from the award date. Exceptionally, only where there are disputes clearly and documentally founded and received within the essential term of number 10 (ten) days from the ascertained and documented award date, the Auction House may, at its sole discretion and without prejudice to the following, cancel the sale of the Lots in question and return the sums paid by the latter to the Buyer, the return of the Lots in the same state as the award date. In any case, in the presence of disputes by the Buyer, the Auction House will in any case inform the Seller. The right of the Auction House to withhold any amounts paid in the meantime by the Buyer, for whatever reason, before the dispute remains firm and unaffected; these amounts may possibly be the subject of a Buyer’s compensation claim against the Seller. 15. AUCTIONS OF BOOKS AND / OR GRAPHICS – Regarding the lots containing books and / or manuscripts and / or prints or other paper goods, any objection relating to: damage to the binding, and / or stains, and / or worm holes, and / or papers or boards are excluded trimmed and / or any other defect that does not damage the completeness of the text and / or of the illustrative apparatus; as well as the lack of table indexes, and / or blank sheets, and / or insertions, and / or supplements and appendices subsequent to the publication of the work; are also excluded from any disputes relating to Lots containing books not described in the catalogue. As for the Lots sold in the auctions of paintings, paintings, prints and the like, any objection relating to the frames is excluded, where the same are presented as merely being part of a painting and therefore have no independent value. In these cases, every risk and danger in this regard is exclusively borne by the Purchaser. 16. THIRD PARTIES – In the event that the Auction House becomes aware of any claim or right of third parties concerning the ownership, possession or possession of one or more Lots, the latter may, at its sole discretion, withdraw such Lots from sale and / or retaining these Lots in custody, pending the necessary checks and / or the composition of any potential litigation. 17. ACCEPTANCE AND FORUM – These terms and conditions are fully accepted, without any reservation, by the Bidders, by the Buyer and by all those who compete in the auction (also by telephone or internet). In case of translation of the conditions of sale in another language, the terms and conditions in the Italian text will prevail and remain valid and binding. The present conditions are governed by Italian law; all disputes in any case deriving from the same will be referred exclusively to the jurisdiction of the Court of Florence. 18. ANTY-MONEY LAUNDERING INFORMATION – The customer acnowledges and accepts, pursuant to and by effect of art. 22 Legislative Decree no. 231/2007 (Anty-MOney Laundering Decree), to provide all the necessary and update information to allow Gonnelli to fulfill the customer due diligence obligations. It is understood that the completion of the purchase is subject to the release by the Customer of the information requested by Gonnelli for the fulfillment of the aforementioned obligations.

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