KRS 355.1-302: Variation by agreement.

(1) Except as otherwise provided in subsection (2) of this section or elsewhere in the

Uniform Commercial Code, the effect of provisions of the Uniform Commercial

Code may be varied by agreement.

(2) The obligations of good faith, diligence, reasonableness, an d care prescribed by the

Uniform Commercial Code may not be disclaimed by agreement. The parties, by

agreement, may determine the standards by which the performance of those

obligations is to be measured if those standards are not manifestly unreasonable.

Whenever the Uniform Commercial Code requires an action to be taken within a

reasonable time, a time that is not manifestly unreasonable may be fixed by

agreement.

(3) The presence in certain provisions of the Uniform Commercial Code of the phrase

"unless otherwise agreed," or words of similar import, does not imply that the effect

of other provisions may not be varied by agreement under this section.