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N765B Purchase Agreement

BY ANNIE GUNNING

CL
BS
+3

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N765B PURCHASE AGREEMENT

1 of 1 document

4144 Aviator Road, Suite 150, Lexington, KY 40510
(859) 233-9399 www.airmart.com
06-20-2024


Aircraft Purchase Agreement
IN WITNESS WHEREOF, in consideration of the premises, the mutual covenants
contained herein, and other good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties do hereby agree as follows: AirMart
agrees to sell the Buyer and Buyer agrees to purchase from AirMart the following
Aircraft ("Aircraft"). AirMart, warrants that it hold legal title to the
Aircraft and that title will be transferred to Buyer free and clear of any;
liens, claims, charges, or encumbrances. Upon acceptance of the aircraft,
AirMart shall execute a bill of sale granting good and marketable title to the
aircraft to the escrow company for payment of the balance of the purchase price,
in accordance with the agreement.
BUYER

SELLER



AirMart Aircraft Holdings, Inc.

Conner Larkin

4626 W. Market Street, Suite C107

6800 S Umbrella Ave, Broken Arrow, OK 74011, USA

Greensboro, NC 27407-2974









N765B

2003

Beechcraft A36

E-3494

CLOSING & DELIVERY CONSIDERATIONS

Closing to occur on this date, subject to the contingencies shown on Exhibit
A/B, if any, unless an extension is agreed to, in writing, between all parties.

Closing Date

07-02-2024

Delivery Location

KLEX

Inspection Location

KLEX

All monies paid in accordance with this agreement will be made in USD by wire
transfer and are due on acceptance of the Aircraft by the buyer.

Base Aircraft Price

$550,000.00

+ Modifications/Additions



+ Escrow & Title Search

$300.00

+ Delivery Fee (paid directly to AirMart)



+ Taxes (if applicable)



-Deposit

-$25,000.00

Total Due at Closing

$525,300.00

______________________________________________________________
Buyer














Date
Select date


Signature

______________________________________________________________
Seller














Date
Signature

Select date


In Witness Whereof, the parties hereto have executed this Agreement the day and
year first above written.

4144 Aviator Road, Suite 150, Lexington, KY 40510
(859) 233-9399 www.airmart.com
06-20-2024


PURCHASE CONSIDERATION
Balance due before closing, and shall be paid by Buyer as follows: (select one)



CASH

The full balance of the purchase price, shall be wired to escrow no later than
ONE DAY BEFORE closing.



FINANCING

Buyer is to obtain a loan for the balance of the purchase price. Buyer agrees to
apply for said loan withing five (5) calendar days from the execution of this
agreement and shall immediately provide the escrow agent with contact
information of the lender. Any required funds not included in the loan amount
shall be deposited into escrow by Buyer no later than ONE DAY BEFORE the day of
closing. AirMart's preferred lender is Aircraft Guarantee & Lending (AGL). Call
or email Jeff Graves at 859-533-1466, via email at jeff@aircraftcash.com, or get
a quote by going to www.aircraftcash.com.



OTHER

Please describe the funding specifics. All non-traditional funding arrangements
must be agreed upon by all parties in writing within 48 hours of the execution
of this agreement.

DEPOSIT

A refundable deposit from the Buyer will be placed in escrow UPON EXECUTION of
this Agreement. The deposit amount will be applied to the purchase price of the
aircraft. Once the Technical Acceptance, Exhibit A, has been “accepted” by Buyer
the deposit becomes non-refundable and will be released to the Seller at that
time.

INSPECTIONS (select one)



PRE-PURCHASE INSPECTION:
Inspection to be completed within 10 business days of the signing of this
agreement.

-Buyer shall have the right to perform a pre-purchase inspection of the
aircraft. The inspection shall be at the Buyer's expense and may be performed by
an individual(s) of Buyer's choice, so long as he/she holds current Airframe and
Powerplant Mechanic Certificates issued by the FAA.
-The pre-buy must be completed, and an inspection report submitted to Seller in
writing within three (3) business days of the start of the inspection.
-Seller agrees at Seller's cost to correct any mutually agreed upon airworthy
items listed in the inspection report as submitted in compliance with the
sentence above.
-Within 48 hours of the completion of the pre-buy, Buyer shall, substantially in
the form of Exhibit A, attached hereto, either A). Accept the Aircraft or B).
Reject the Aircraft. The failure of the Buyer to provide the Seller with
confirmation of acceptance or rejection as provided for hereunder shall
automatically be deemed an acceptance by Buyer of the Aircraft. Acceptance of
the Aircraft under the Clause shall hereinafter be referred to as the "Technical
Acceptance" of the Aircraft. see Exhibit A.
-If Buyer and Seller cannot agree upon airworthy items, this agreement may be
voidable at the option of either party.
-This agreement is also contingent upon Buyer verification that the Condition of
Aircraft is as represented by Seller or agreement my be voided. All deposits
associated with this agreement shall be returned in accordance with the deposit
provisions.
-If either party gives notice of intent to void this agreement in writing, the
other party shall have the right, within 48 hours of such notice, to (Seller)
make the requested repairs OR (Buyer) accept the Aircraft in its "as-is"
condition.



ANNUAL INSPECTION:
Buyer agrees to accept the Annual Inspection in lieu of the Pre-Purchase
Inspection. This inspection will be completed prior to closing.

-Buyer agrees to accept the Annual Inspection in lieu of a Pre-buy. Prior to
closing, Buyer shall, substantially, in the form of Exhibit A attached hereto,
with A). accept the Aircraft OR B). reject the Aircraft. The failure of the
Buyer to provide the Seller with confirmation of Acceptance or Rejection as
provided for hereunder shall automatically be deemed an acceptance by Buyer of
the Aircraft. Acceptance of the Aircraft under the Clause shall hereinafter be
referred to as the "Technical Acceptance" of the Aircraft.



AIRMART CERTIFIED EDITION (ACE):

-Buyer agrees to accept the ACE inspection in lieu of a Pre-buy. While these
inspections are completed to the best of AirMart's ability, there are areas of
the aircraft that are not able to be inspected due to their inaccessible
location.
-AirMart does not warrant or guarantee any items inspected and no additional
warranty for parts or labor is included. AirMart is not responsible for the
nature, brand, or quality of any replacement parts installed prior to inspection
and used by prior owners or operators. All aircraft are purchased subject to the
terms and conditions of your separate purchase agreement.
-AirMart cannot insure against any fraud or misrepresentation that may have
occurred prior to AirMart's inspection. The inspection was conducted on a
specific date and time. This inspection is only a snapshot at that specific date
and time. When the aircraft is flown again after the inspection, any individual
part or item's condition can change from the date and time of inspection. The
likelihood of such changes increases the longer the elapsed time between
inspection and date of purchase.
-AirMart encourages you to do your own independent review of the aircraft.

1.
2.
3.

Option 1
Option 2
Option 3

___________________________________________
Buyer Initials
Initials

__________________________________________
Seller Initials
Initials


In Witness Whereof, the parties hereto have executed this Agreement the day and
year first above written.

4144 Aviator Road, Suite 150, Lexington, KY 40510
(859) 233-9399 www.airmart.com
06-20-2024


Terms and Conditions
1. Training Acknowledgement. Buyer acknowledges and understands that skill and
training are required to operate the Aircraft being purchased. Buyer accepts
full responsibility for the training and ability to pilot and operate the
Aircraft being purchased in a safe and proper manner. Buyer agrees that AirMart
shall not be held liable for any general, consequential, or incidental damages,
including, without limitation, any heirs and successors in interest or assigns
caused directly or indirectly by operation of this aircraft once it has been
transferred to the Buyer.
2. Deposit. A refundable deposit from the Buyer will be placed in escrow UPON
EXECUTION of this Agreement. The deposit amount will be applied to the purchase
price of the aircraft. Once the Technical Acceptance, Exhibit A, has been
“accepted” by Buyer the deposit becomes non-refundable and will be released to
the Seller at that time.
3. Escrow. AIC Title Service, LLC whose primary address is 6350 W. Reno Oklahoma
City, OK 73127 shall act as the escrow agent for this transaction with all
monies, consideration and documentation being managed by AIC. Buyer and Seller
agree to equally share the escrow fee which shall be paid to AIC Title Service
directly upon closing the sale of the aircraft which is the subject of this
agreement. If Buyer cancels this agreement for any reason, Buyer shall pay a
one-time title search fee of One Hundred Dollars ($100.00). This amount shall be
invoiced directly to Buyer and may be deducted from Buyer’s refundable deposit
(if any.)
4. Warranties. THIS AIRCRAFT IS SOLD “AS IS”, THERE ARE NO WARRANTIES, EITHER
EXPRESS OR IMPLIED, WITH RESPECT TO MERCHANTABILITY OR FITNESS APPLICABLE TO THE
AIRCRAFT OR ANY EQUIPMENT APPLICABLE THERETO, MADE BY, AIRMART. BUYER AGREES
THAT NO WARRANTY HAS BEEN EXPRESSED OR IMPLIED BY AIRMART AND THAT BUYER HAS
INSPECTED THE AIRCRAFT AND UNDERSTANDS THAT IT IS BEING PURCHASED “AS IS”. BUYER
HEREBY EXPRESSLY WAIVES ANY CLAIM FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES,
INCLUDING DAMAGES RESULTING IN PERSONAL INJURY, AGAINST AIRMART.
5. Inability to Perform. Neither party will be responsible or deemed to be in
default for delays in performance of this Agreement due to causes beyond either
party’s control and not caused by either party’s fault or negligence.
6. Taxes. IRRESPECTIVE OF WHETHER OR NOT A SALES OR USE TAX IS ENUMERATED ON THE
FACE OF THIS AGREEMENT, ANY TAX INCLUDING SALES, USE OR SIMILAR TAXES ARISING
OUT OF OR RELATED TO THIS AGREEMENT OR THE PURCHASE OF THE AIRCRAFT AND
EQUIPMENT DESIGNATED HEREIN THAT MAY BE IMPOSED BY ANY STATE OR JURISDICTION
UPON THE PURCHASE OR USE OF THE AIRCRAFT OR ANY RELATED EQUIPMENT BY BUYER OR
AIRMART SHALL BE THE RESPONSIBILITY OF AND WILL BE PAID FOR BY BUYER. BUYER
HEREBY AGREES TO INDEMNIFY AND HOLD HARMLESS AIRMART AND ITS REPRESENTATIVES
FROM THE PAYMENT OF ANY TAX APPLICABLE TO PURCHASE OF THE AIRCRAFT AND
EQUIPMENT. IF ANY JURISDICTION SHALL RECOVER OR CLAIM ANY SUCH TAX OR CHARGE
FROM AIRMART, BUYER WILL REIMBURSE AIRMART FORTHWITH FOR SAID TAX AND WILL
FURTHER PAY ANY AND ALL REASONABLE EXPENSES INCURRED BY AIRMART, INCLUDING
ATTORNEY FEES.
7. Legal and Tax Counsel. BY SIGNING THIS AGREEMENT, BUYER ACKNOWLEDGES THAT
PURCHASING THE AIRCRAFT MAY HAVE IMPORTANT LEGAL AND/OR TAX CONSEQUENCES. BUYER
FURTHER ACKNOWLEDGES THAT IT IS BUYER’S RESPONSIBILITY ALONE TO CONSULT WITH THE
APPROPRIATE LEGAL, TAX OR OTHER COUNSEL.
8. Indemnification and Hold Harmless. IN NO EVENT SHALL AIRMART BE LIABLE FOR
ANY DAMAGE FROM LOSS OF PROFIT OR LOSS OF USE OF THE AIRCRAFT EITHER BEFORE OR
AFTER DELIVERY OF THE AIRCRAFT. BUYER EXPRESSLY ASSUMES ALL RISKS OF LOSS OR
DAMAGE TO THE AIRCRAFT AND DAMAGE RESULTING IN PERSONAL INJURY.
9. Assignment. This Agreement may not be transferred or assigned without written
authorization signed by AirMart, and Buyer.
10. Notice. All notices and requests required or authorized under this Agreement
shall be given in writing by email or by mail. If mailed they will be sent
through a recognized national overnight delivery service (e.g., FedEx, UPS). The
date on which any such notice is first attempted delivery at the address above
shall be the date on which Notice is deemed given.
11. Mediation. If a dispute arises relating to this agreement, prior to or after
closing, and is not resolved, the parties shall first proceed in good faith to
submit the matter to mediation. Mediation is a process in which the parties meet
with an impartial person who helps to resolve the dispute informally and
confidentially. Mediators cannot impose binding decisions. The parties in
dispute must agree before any settlement is binding. The parties will jointly
appoint an acceptable mediator and will share equally in the cost of such
mediation.
12. Attorney Fees. In the event any action is filed in relation to this
Agreement, the unsuccessful party in the action shall pay to the successful
party a reasonable sum for the successful party's attorney's fees.
13. Waiver. Either party's failure to enforce any provision of this Agreement
against the other party shall not be construed as a waiver thereof so as to
excuse the other party from future performance of that provision or any other
provision.
14. Severability. The invalidity of any portion of the Agreement shall not
affect the validity of the remaining portions thereof.
15. Paragraph Headings. The headings to the paragraphs to this Agreement are
solely for convenience and have no substantive effect on the Agreement nor are
they to aid in the interpretation of the Agreement.
16. Entire Agreement. 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 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 except in writing signed by the parties.
17. Governing Law. This Agreement is a contract executed under and to be
construed under the laws of the state of North Carolina.
__________________________________________
Buyer Initials
Initials

_______________________________________
Seller Initials
Initials


In Witness Whereof, the parties hereto have executed this Agreement the day and
year first above written.

4144 Aviator Road, Suite 150, Lexington, KY 40510
(859) 233-9399 www.airmart.com
06-20-2024


WIRE TRANSFER INSTRUCTIONS
AIC TITLE SERVICE ESCROW ACCOUNT

Bank Name:

BANK OF AMERICA

ABA Routing#:

026 009 593

FOR CREDIT TO:

AIC TITLE AGENCY, LLC

ACCOUNT #:

305 005 374 465

RE:

Darzhane Gresham - N765B

INTERNATIONAL WIRES

SWIFTCODE:

BOFAUS3N

RE:

Aircraft “n” number or if an import, use make, model & serial number. IT IS
IMPERATIVE THAT THE “N” NUMBER AND/OR SERIAL NUMBER BE REFERENCED ON THE
INCOMING WIRE TRANSFER TO INSURE PROPER CREDIT!!

FUNDS CANNOT BE TRANSFERRED OUT OF OUR ESCROW ACCOUNT AFTER 3:00 P.M. (CENTRAL
TIME) FOR DOMESTIC WIRES AND 2:00 P.M. (CENTRAL TIME) FOR INTERNATIONAL WIRES.
DISBURSEMENTS AUTHORIZED AFTER THESE TIMES WILL NOT BE TRANSMITTED UNTIL THE
MORNING OF THE NEXT BUSINESS DAY.

PLEASE NOTE AIC TITLE DOES NOT ACCEPT ACH TRANSFERS FOR ESCROW CLOSINGS

DISBURSEMENTS AUTHORIZED AFTER THESE TIMES WILL NOT BE TRANSMITTED UNTIL THE
MORNING OF THE NEXT BUSINESS DAY.

OUR ESCROW ACCOUNT IS A NON-INTEREST-BEARING ACCOUNT.
ALL ESCROW FEES MUST BE “PAID IN FULL” AT THE TIME OF CLOSING.

BANK OF AMERICA
Account Officer: Angela Parks
211 N. Robinson Ave
Oklahoma City, Ok 73102


AIC Title Service, LLC
6350 W Reno, Oklahoma City, OK 73127
800-288-2519 405-948-1811 FAX 405-948-1869


In Witness Whereof, the parties hereto have executed this Agreement the day and
year first above written.

4144 Aviator Road, Suite 150, Lexington, KY 40510
(859) 233-9399 www.airmart.com
06-20-2024


EXHIBIT A
TECHNICAL ACCEPTANCE
REGISTRATION #

YEAR

MAKE & MODEL

SERIAL #

N765B

2003

Beechcraft A36

E-3494

Pursuant to the Aircraft Purchase Agreement (Agreement) dated 10/24/2023
between, AirMart Aircraft Holdings, Inc. (SELLER) and, Conner Larkin, (BUYER).
This is to confirm that the Buyer:



ACCEPTS the aircraft, per terms of this agreement. The Escrow Agent is hereby
instructed to apply the Buyer's deposit amount towards the purchase price and
release the deposit to the Seller, in accordance with the terms of the
Agreement.



REJECTS the aircraft. The Escrow Agent is hereby instructed to return the
Buyer's Deposit in accordance with the terms of the agreement.

______________________________________________________________
Buyer Signature









`


Date


In Witness Whereof, the parties hereto have executed this Agreement the day and
year first above written.

4144 Aviator Road, Suite 150, Lexington, KY 40510
(859) 233-9399 www.airmart.com
06-20-2024


AIRCRAFT DELIVERY RECEIPT
BUYER:

SELLER:



AirMart Aircraft Holdings, Inc.

Conner Larkin

4626 W. Market Street, Suite C107

6800 S Umbrella Ave, Broken Arrow, OK 74011, USA

Greensboro, NC 27407-2974

REGISTRATION #

YEAR

MAKE & MODEL

SERIAL #

N765B

2003

Beechcraft A36

E-3494

TRANSACTION RECEIPT FROM THIS LOCATION MUST BE ATTACHED AS PROOF. (I.E., FUEL
PURCHASE, RAMP FEE, ETC.)
I certify that I am the Buyer named herein, or the Buyer’s agent and am
empowered to accept delivery of such aircraft, and that I have examined the
Aircraft and all the pertinent logs and manuals pertaining thereto and have
found the Aircraft to be in all respects satisfactory and the information
contained in such logs and manuals to be accurate. On behalf of the buyer, I
accept the Aircraft subject only to the item noted herein, and I acknowledge
that I have conducted an acceptance flight of the aircraft or that I waive any
rights to such an acceptance flight. Buyer hereby accepts Aircraft in as is
condition, no warranties expressed or implied whatsoever; and acknowledge that
delivery of the Aircraft is hereby accepted at: ___________ (Airport) on
___________ (Date). Buyer understands and by initialing the following
paragraphs, Buyer agrees that:

1.


_________________

On-ground cockpit demonstrations, flying conducted during the demonstration of
the aircraft or conducted during any phase of the sale or delivery of the
aircraft or during any phase of the post-sale of the aircraft, are done only as
part of the sales demonstration of the aircraft, and do not constitute pilot
training of any kind. Buyer further understands that Buyer’s pilot(s),
employees, and agents are responsible for obtaining the proper qualifications
and ratings for flying and operating the purchase aircraft.

2.



_________________

No representations of any kind have been made or implied by AirMart its
employees or agents as to the flying ability or as to the ability as a pilot of
any person who was in the aircraft during any of the cockpit time or flying time
described above item number 1. Buyer further agrees to defend, indemnify, and
hold harmless AirMart its employees or agents in the event that a claim,
arbitration, or lawsuit (“ACTION”) is brought against AirMart its employees or
agents by any part if said “ACTION” is based in whole or in part on allegations
of the lack of pilot training or lack of pilot competence of buyer or of buyer’s
pilot(s), employees, or agents.

3.

_________________

Buyer acknowledges that sales, use, excise, vat, registration, or other taxes
may still be due on this aircraft. Buyer further acknowledges that these taxes
are the responsibility of Buyer. Buyer agrees to pay the applicable taxes
(including interest or penalties) to the appropriate authorities or to AirMart
if such taxes have been levied on AirMart directly.

4.

_________________

This acceptance transfers all rights and obligations of ownership of the
aircraft from AirMart to Buyer. Buyer certifies that Buyer has insured the
aircraft against damage or loss, and that such insurance is bound and effective
at the time of acceptance.

5.
_________________

Any modifications and/or repairs made to the aircraft once delivery has been
accepted, unless previously addressed and agreed upon in the Aircraft Purchase
Agreement, are the sole responsibility of Buyer.

I hereby assume all risks associated with ownership of this aircraft and accept
delivery.

______________________________________________________________
Buyer Signature











Date
______________________________________________________________
Buyer Representative










Date

_______________________________________________________________
Witness













Date
Initials

In Witness Whereof, the parties hereto have executed this Agreement the day and
year first above written.




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