The following is only a draft or guideline which would enable a sales agreement between the seller and the buyer:
AIRCRAFT PURCHASE/SALES AGREEMENT
AN AGREEMENT, made and executed this XX day of XXX, 2010, by and between ---------, address (hereinafter "buyer"), and ------, address (hereafter "Seller").
WITNESSETH: In consideration of $189,000.00, the receipt of which is hereby acknowledged, the Parties hereby mutually agree as follows, to wit:
1. Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller the following Aircraft:
Aircraft Make: Stemme
Aircraft Model: S10 VT
Aircraft Year: 2000
Aircraft Registration Number: N54BR
Aircraft Serial Number:11-041
Seller also warrants that the aircraft logbooks are complete and begin with the date of manufacture of the aircraft to the present or alternatively the logbooks are incomplete and begin on ______________ and end on ________________.
Seller warrants that Seller owns legal title to the above Aircraft and that title will be assigned to Buyer free and clear of any liens, claims, or encumbrances. Seller acknowledges that presently this aircraft is (is not) encumbered. Upon delivery of the aircraft and payment of the balance of the purchase price in accordance with this Agreement, Seller shall execute a bill of sale granting good and marketable title to said Aircraft free and clear of all claims and encumbrances.
2. It is agreed that the purchase price of the Aircraft is Two hundred ten thousand dollars (#189,000.00 which sum is due on delivery of the Aircraft. Any money paid pursuant to this Agreement shall be paid by cash, cashier's check, certified checks, or wire transfer.
3. Buyer shall pay Seller the sum of $1000.00 which sum shall be credited to the purchase price of the airplane. In the event of the failure to be clear of any liens, claims, charges or encumbrances in the sole discretion of the Buyer, the deposit shall be immediately refunded to Buyer, subject to the terms of this agreement.
4. It is agreed that the Aircraft and its logbooks and pertinent aircraft records shall be delivered by ---------.
5. Payment in full, is a condition of delivery. Title and risk of loss or damage to the Aircraft shall pass to Buyer at the moment of delivery. The Aircraft will be received by Buyer in its present condition, normal wear and tear excepted, with a valid FAA Certificate of Airworthiness.
6. Seller warrants that: all of the Aircraft's logbooks are accurate and is in a condition as advertised.
7. If the Aircraft is destroyed, or in Seller's opinion damaged beyond repair, Seller shall notify Buyer immediately and this Agreement shall be terminated and the Seller shall return all payments to Buyer and Seller will be relieved of any obligation to replace or repair the Aircraft. Seller will not be responsible or deemed to be in default for delays in performance of the Agreement due to reasonable causes beyond Seller's control.
8. If, for any reason, the Buyer is unable to pay the price of the Aircraft, as specified in this Agreement, the Seller shall return all documents to the Buyer except for the deposit which shall be retained as liquidated damages.
9. The Buyer shall pay any sales or use tax imposed by any state or local government, which results from the sale of the Aircraft.
10. All notices and requests required or authorized pursuant to this Agreement shall be in writing by certified mail, return receipt requested.
11. In the event any action is filed in relation to this Agreement, each party shall be responsible for his own attorney's fees.
12. This Agreement constitutes the entire Agreement between the parties. No statements, promises, or inducements made by any party to this agreement or any agent or any agent or employees of either party, which are not contained in this written contract shall be valid or binding. This Agreement may not be enlarged, modified, or altered unless in writing signed by the parties.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the date and year first above written.
________________________ _______________________
Seller Buyer
SOLD!