Buyer shall pay a total price of $
___________ (which excludes taxes where applicable), which consists of a deposit in the amount of $ __________ , with the balance of $ ___________ due at close of sale.
This deposit shall
be retained by the Seller, as liquidated damages, in the event that the
Buyer fails to complete the purchase, but will be refunded in full should
the seller fail to complete the terms of this agreement.
At the time of
the Seller accepting the deposit. Seller will not use the aircraft for
any reason except for delivery to the Buyer as agreed, in which event the
Buyer assumes all risks associated with the delivery, including all risks
associated with flight and other operations of the aircraft. Buyer agrees
to insure the aircraft and to add the Seller as an additional insured with
respect to any delivery of the aircraft.
This is a binding contract, and
is scheduled to be completed on
________________________ .
The
Seller agrees that there is no lien holder, or that there is a lien in the
amount of $ _________ , owed to and due as follows:
Terms of release
The Buyer will pay the lien holder and obtain his or her release, and will
pay the owner by separate instrument. Buyer will make all payments,
including the deposit, satisfaction of lien and final payment either in
cash or by either cashier's or certified check. At the close of sale, all
rights, title and interest will be released to the Buyer, as well as full
responsibility for the use, operation and storage of the aircraft. Buyer
acknowledges that
hidden defects may exist in any aircraft, and that an independent
inspection by a qualified person is the right and responsibility of the
Buyer or his agent. This offer shall be binding upon my heirs and assigns,
and there is no warranty, written or implied. There will be no further
parts, plans or information expected of the Seller after the close of
sale. Buyer expressly acknowledges that there has been no reliance on any
representation by Seller as to the condition of the aircraft, or its
suitability for any particular purpose, including flight.
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