LETTER OF INTENT
Aircraft: MD500E, N52lPD, S/N: 0321E
Kansas Farm & Ranc h nc. would like to offer to purchase the above referenced aircraft subject to the 2 following terms and conditions
Total purchase price is six-hundred thousand U.S. Dollars ($600.000.00).
The airworthy Aircraft will be delivered with all logs and records, all systems in an airworthy and operational condition, with a US Certificate of Airworthiness, all calendar and hourly inspections accomplished and current, and all airworthiness directives and mandatory service bulletins complied with, along with a fresh annual inspection. Seller is to keep as much law entbrcement equipment on the aircrafl, with special consideration to not make the aircrat't unairworthy.
At closing the title shall be free and clear ofall liens and encumbrances, and all airworthiness discrepancies identified during the annual inspection rectified.
Seller witl make the Aircrafts available for a pre-buy inspection in Hawthorn, CA. Purchaser will be authorized to perfbrm a pre-purchase inspection at its expense, to include verification ot' specifications, history, and maintenance status of the Aircraft. Purchaser will be provided an oppornrnity for a test flight with Seller's pilot. The sale price is 100% contingent on pre-buy inspection and tied to refundable deposit.
Engine, blades, transmission, and airframe must be in serviceable condition as required for complete inspection.
Aflter completion of pre-buy inspection has been accomplished and correction ofany items as per paragraph (2), and placement of the Bill of Sale and any release(s) of lien in escrow, full payment for the Aircraft will be transferred to Seller's bank.
Except for conditions listed above, the offer lor the Aircraft is in an "as is" condition.
Upon acceptance of this ofl'er by Seller, Purchaser will proceed with traveling to conduct prebuy inspection and place l0% refundable deposit with Insured Aircraft Title Service, Oklahoma City, Okla. phone # 405-681-6663, fax # 405-681-9299, to close sale. 4 5
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8 The terms and conditions ofthis offer (and acceptance thereto) shall remain confidential, Seller and Purchaser agree not to disclose any terms or conditions to any third parties either prior or subsequent to delivery ofthe Aircraft, except where required by law, or with prior written consent of the other party hereto.
If this olfer is acceptable please sign below and return by email. This olfer is subj ect to a mutually agreeable Aircraft Sales Contract signed by both parties. t0
Purchaser
Seller
Date
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