Fill and Sign the Contract of with Form

Contract for the Sale and Purchase of an Aircraft with a Bill of Sale Attached as an Exhibit Aircraft purchase agreement made on the ________________________________ (date) , between _________________________________________ (Name of Buyer) of ________________________________________________________________________ ________________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Buyer , and ___________________________________________ (Name of Seller) , a corporation organized and existing under the laws of the state of _____________________________, with its principal office located at ____________________________________________ ________________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Seller . F or and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Sale of Aircraft Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, the following described aircraft (hereinafter referred to as the Aircraft ): Model______________________________________; Serial No. ___________________________________; FAA No. ____________________________________; The Aircraft shall be fitted and equipped as follows: (describe) ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ . 2. Consideration The price of the Aircraft shall be $_______________ cash. 3. Delivery The Aircraft shall be delivered on or before ______________________________ ( date) upon payment of said cash amount to Seller and upon delivery to Buyer by Seller of a Bill of Sale in the Form attached hereto as Exhibit A. Receipt is to be acknowledged by Buyer as indicated on said Bill of Sale. Title and risk of loss or damage to the Aircraft shall pass to Buyer at the time of delivery. 4. Condition on Delivery A. When delivered to Buyer, the Aircraft will be in its as is and present condition, normal wear and tear excepted , and will have a valid FAA Certificate of Airworthiness. None of the engines on the Aircraft will have been used in excess of ____ hours since overhaul, and Seller will furnish Buyer with all logbooks of the Aircraft in Seller’s possession. B. The warranties and covenants contained in this Agreement with respect to the condition of the Aircraft shall not be altered or varied unless done so by a written instrument signed by Seller and Buyer. Buyer waives all warranties and guarantees, express or implied, arising by law or otherwise, including, but not limited to, any obligation of Seller with respect to consequential damage or loss of use, revenue, or profit. 5. Transfer of Title Seller warrants Seller's title to the Aircraft and that title will be transferred to Buyer free and clear of any liens, claims, charges, or encumbrances. 6. Seller’s Inability to Perform If the Aircraft is destroyed before transfer of title or in Seller's opinion damaged beyond repair, Seller shall promptly notify Buyer. On receipt of such notification, this contract will be terminated, and Seller shall return to Buyer any payments made pursuant to this Agreement. Seller will then be relieved of any obligation to replace or repair the Aircraft. 7. Taxes Any taxes (other than income taxes) assessed or imposed by federal, state, or local government on the transaction contemplated by this Agreement or on the Aircraft during the year of this Sale shall be paid by Buyer. If Seller pays any such taxes, Seller shall be promptly reimbursed by Buyer in the amount of the payment. 8. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 9. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of __________________________. 10. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 11. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 12. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 13. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 14. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 15. Counterparts This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. WITNESS our signatures as of the day and date first above stated. _________________________________ ____________________________________ (Name of Seller) (Name of Buyer) By: _______________________________ ____________________________________ ___________________________________ (P rinted Name of Buyer ) (P rinted Name & Office in Corporation) __________________________________ ____________________________________ (Signature of Officer) (Signature of Buyer) Exhibit A Bill of Sale of Aircraft For and in consideration of $______________________cash in hand paid, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned ______________________________________ (Name of Seller) , a corporation organized and existing under the laws of the state of ___________________________________, with its principal office located at ________________________________________________________________________ ________________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Seller , does hereby sell unto _____________________________________________ (Name of Buyer) of ________________________________________________________________________ ________________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Buyer , the following described aircraft (hereinafter referred to as the Aircraft : Model____________________________; Serial No. _________________________; FAA No. __________________________; Seller is selling said Aircraft in its as is and present condition and makes no warranty as to the condition of the Aircraft and waives any implied warranty of fitness for a particular purpose or merchantability. Seller warrants and represents that Seller has absolute and good title to and full right to dispose of the Aircraft , and that there are no liens, claims, or encumbrances of any kind against the Aircraft . Executed as of the day of ___________________ , 20 _ . ____________________________________ (Name of Seller) By: ________________________________ ____________________________________ (P rinted Name & Office in Corporation) ____________________________________ (Signature of Officer) STATE OF _______________________________ COUNTY OF ____________________________ Personally appeared before me, the undersigned authority in and for the said county and state, on this _____ day of _________________________________, 20____, within my jurisdiction, the within named ______________________________________ (Name of Officer) , who acknowledged that he is ________________________________ (Name of Office) of _______________________________________________ (Name of Corporation) , a ___________________________________ (name of state) corporation, and that for and on behalf of the said corporation, and as its act and deed he executed the above and foregoing instrument, after first having been duly authorized by said corporation so to do. ______________________________ NOTARY PUBLIC My Commission expires: _______________________ Acknowledgment of Receipt of Bill of Sale of Aircraft The undersigned Buyer acknowledges receipt of the aforesaid Bill of Sale and accepts said Aircraft in its as is and present condition and agrees that Seller has made no warranty as to the condition of the Aircraft nor any implied warranty of fitness for a particular purpose or merchantability. Buyer agrees that the Aircraft, when delivered, conformed to the terms of the above Agreement, and Buyer expressly waives any claims that Buyer may subsequently have asserted with respect to the condition of the Aircraft . ____________________________________ (Name of Buyer) ____________________________________ (P rinted Name of Buyer ) ____________________________________ (Signature of Buyer)