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Aircraft Lease Agreement Dated as of June 12, 2018

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Bill of Sale for Aircraft Engine and Documentation

For and in consideration of the promise to pay in flying hours as set forth in the Lease Agreement attached hereto as Exhibit A and made a part hereof by reference, and other valuable consideration, the receipt and sufficiency of which is acknowledged,

, who resides at , hereinafter called the Seller, does now sell, grant, transfer and deliver all his full legal and beneficial title, title rights, and interest in and to the aircraft engine hereinafter described, hereinafter called the Engine, to , a corporation organized and existing under the laws of the state of , with its principal office located at , referred to herein as Buyer, its successors and assigns, to have and to hold the Engine forever.

The Engine being sold pursuant to this Bill of Sale is described as follows:

A. Number of Engine: ;

B.

C. Name of Engine Manufacturer: ;

D. Model Number of Engine: ; and

E. Manufacturer’s Serial Number: .

Seller does further sell, grant, transfer and deliver all his full legal and beneficial title, title rights, and interest in and to the historical maintenance records, technical manuals, data, inspection and modification records associated with said Engine, referred to herein as the Engine Documentation.

Seller warrants that he is the owner of the full legal and beneficial title of the Engine and Engine Documentation described above. This Bill of Sale is made pursuant to that certain Lease Agreement (Exhibit A) made on the , between Seller and Buyer, to which reference is made and which sets forth the rights, obligations and limitations of the parties.

Seller warrants to Buyer, its successors and assigns, that there is conveyed to Buyer by this Bill of Sale, on this date, good title to the Engine, free and clear of any and all liens, claims and encumbrances, other than liens, claims and encumbrances created by or on behalf of Buyer, and Seller will warrant and defend such title forever against all claims and demands whatsoever.

Seller also does now grant to Buyer the rights and benefits of any warranties of manufacturers which may exist at the time of delivery in favor of Seller with respect to the Engine, to the extent that any such rights and benefits may be transferred by Seller to Buyer.

Witness the signature of the Seller this the day of , 20.

Attach Exhibit A

(Acknowledgment form may vary by state)

State of

County of

Personally appeared before me, the undersigned authority in and for the said County and State, on this , within my jurisdiction, the within-named , who acknowledged that he executed the above and foregoing instrument.

________________________________

NOTARY PUBLIC

My Commission Expires:

Enter text✕

What the Aircraft Lease Agreement Dated as of June 12, 2018 Is

The Aircraft Lease Agreement Dated as of June 12, 2018 is a written contract between a lessor and a lessee that sets the terms for use, maintenance, insurance, and return of a specific aircraft. It identifies the aircraft (make, model, serial number, N-number), the lease term, payment schedule, and allocation of operational responsibilities. The agreement also addresses regulatory compliance (FAA registration and airworthiness), events of default, remedies, security interests, and procedures for inspection, maintenance, and repossession. It provides the legal framework for commercial or private aircraft leasing relationships.

Why a Clear, dated Aircraft Lease Agreement Matters

A dated agreement clarifies responsibilities, protects lender and operator interests, and reduces disputes over maintenance, insurance, and default. It records priorities for liens and supports FAA and financing requirements.

Why a Clear, dated Aircraft Lease Agreement Matters

Who typically prepares and signs this dated aircraft lease

Common parties include the aircraft owner (lessor), operator or renter (lessee), and financing or security holders; attorneys and maintenance providers also review the document.

  • Aircraft owners and lessors who retain title but lease operational use to third parties.
  • Corporate flight departments and charter operators acting as lessees for business transportation.
  • Banks, leasing companies, and secured creditors that register liens against the aircraft.

External stakeholders may include lenders, insurers, and FAA registration agents who require copies for financing or regulatory purposes.

Core sections to expect in the Aircraft Lease Agreement Dated as of June 12, 2018

A professional lease organizes obligations, risk allocation, and operational requirements so each party understands payments, inspections, insurance, and remedies.

Parties & Aircraft

Full legal names, entity types, N-number, make/model, serial number, and any equipment or avionics included with the aircraft.

Term & Rent

Start and end dates, renewal options, payment schedule, late fees, and security deposit or advance payment provisions.

Maintenance & Inspections

Who performs, pays for, and documents maintenance; required inspection intervals and compliance with manufacturer and FAA directives.

Insurance & Indemnity

Required liability and hull coverage limits, named insureds, waiver of subrogation, and indemnification for third-party claims.

Default & Remedies

Events constituting default, cure periods, lessor remedies including repossession, acceleration, and damage calculations.

Security & Registration

Aircraft mortgage or lien language, FAA registration responsibilities, and procedures for releasing or subordinating security interests.

Step-by-step: completing the dated aircraft lease

Follow a short sequence to gather data, fill fields, confirm compliance, and execute with required witnesses or notarization if applicable.

  • 01
    Gather records: Collect registrations, maintenance logs, and insurance certificates.
  • 02
    Identify parties: Confirm legal entity names and signing authority.
  • 03
    Complete form: Enter aircraft info, dates, payments, and obligations.
  • 04
    Execute: Sign, notarize or RON if required, and distribute copies.

Typical e-execution and routing flow for the dated lease

Electronic workflows reduce turnaround: prepare, place fields, authenticate signers, capture signatures, then archive signed copies with an audit trail.

  • Prepare document: Upload final lease PDF and set required fields.
  • Assign signers: Enter signer emails and roles in signing order.
  • Authenticate: Use email, SMS code, or stronger ID verification.
  • Complete and archive: System records timestamps, IP, and produces a PDF copy.

Recommended digital workflow settings for this lease

Configure signer authentication, document retention, and notification rules to match your compliance and financing needs.

Field Configuration
Authentication method Email link | SMS code | KBA when required
Signature type Drawn, typed, or uploaded image accepted
Notification schedule Initial invite | First reminder | Final notice
Retention settings Signed PDF + audit trail saved securely

Technical considerations for eSigning and storage

Ensure your signing platform supports PDF, audit trails, and the authentication level required by lenders or regulators.

  • Supported formats: PDF and DOCX
  • Integrations: CRM, ERP, cloud storage
  • Authentication options: Email, SMS, KBA

Choose an eSignature provider that records timestamps, signer attribution, and stores an immutable audit trail; confirm any BAA or 21 CFR Part 11 needs before finalizing workflow.

Security and compliance checkpoints to include

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Audit Trail: Timestamp, IP address, and action log
HIPAA: BAA required for protected health information
21 CFR Part 11: Available for FDA-regulated records
SOC 2 Type II: Security controls independently attested
ISO 27001: Information security management standard

Primary legal and financial risks of an incorrect lease

Tax exposure: Backup withholding or incorrect reporting
Lien priority: Improper filing may impair creditor rights
FAA noncompliance: Registration or airworthiness lapses
Insurance gaps: Uninsured hull or liability claims arise
Repossession risk: Delayed remedies reduce recovery options
Signature defects: Invalid execution may void agreement

Common mistakes to avoid when preparing this dated lease

  • Using an informal name instead of the legal entity name causes title and enforcement issues and can delay financing or registration.
  • Leaving maintenance obligations vague such as 'reasonable maintenance' rather than specifying schedules and responsible party increases dispute risk.
  • Failing to obtain proper insurance endorsements naming lessor as additional insured can result in uncovered claims and breach.
  • Not confirming signer authority (board resolution or power of attorney) leads to later challenges to contract validity.

eSignature pricing and capability snapshot for executing aircraft leases

Compare vendor starting prices and key features relevant to legal-quality execution and high-volume distribution when selecting an eSignature provider.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial, no credit card Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes (Premium tier) Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies by plan Varies by plan Varies by plan

Key dates and time-sensitive items to track

Track execution deadlines, insurance evidence, FAA filings, and payment dates to maintain compliance and protect interests.

W-9 / Tax Forms:

Provide a W-9 on request to payers; no fixed filing deadline (IRS guidance)

Insurance Certificate:

Deliver proof of insurance before aircraft delivery or first flight under lease

FAA Registration:

Update FAA registry promptly when ownership or lien status changes

Effective Date:

Agreed MM/DD/YYYY triggers obligations and insurance requirements

Payment Due Dates:

Observe scheduled rent dates and grace periods to avoid defaults

Milestone timeline for lease lifecycle

A sequential milestone view helps coordinate paperwork, delivery, and return activities across stakeholders.

01

Negotiation and Review

Drafting, legal review, and lender approvals occur before signing.

02

Execution

Signatures, notarization or RON, and exchange of initial payments happen here.

03

Aircraft Delivery

Handover of aircraft, transfer of keys, and confirmation of insurance and maintenance status.

04

End-of-Term

Return, inspection, repairs, and any buyout or renewal processing.

Who should sign and who typically approves the agreement

Lessor — CFO

The lessor's authorized officer or CFO signs for the owner entity, approves insurance limits, and confirms lien priorities; internal counsel or finance often reviews before execution to protect collateral.

Lessee — Operations Head

The lessee's operations manager or authorized executive signs to accept operational responsibilities, pilot qualifications, and payment obligations; lessee counsel verifies indemnities and maintenance commitments.

Frequently asked questions about executing the dated aircraft lease

Answers below address legality, signing methods, notarization, FAA issues, and common execution problems encountered with aircraft leases.


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