I'm confused about the need for both a notarized permission from your friend and a proof of ownership in the form of a sales contract. I should be clear that what follows applies to vehicles in general; I'm ignorant of anything exceptional about 1954 Vespas as opposed to any other motor vehicle.
I don't know whether a permission, notarized or not, will allow you to import a vehicle. A proof of ownership definitely does allow temporary importation, but that would take the form of a registration and/or title document in your name--not a "sales contract." If it belongs to you, you can import it.
You're correct about the need for an EPA document and for insurance valid in the US.
Hope that's helpful.
Mark
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