1. Introduction. Agreement made [date] between [name], with principal offices at [address] (Seller), and [name], with principal offices at [address] (Buyer), for the sale and delivery of a used airplane.
2. Description of Aircraft. Seller will sell and deliver to Buyer an airplane described as follows: [manufacturer, model, year, serial number]. The airplane will be equipped with [number and type] engines and other equipment now on such airplane, except [specify equipment].
3. Purchase Price. The purchase price is ---------- dollars ($----------), payable in full upon delivery of the airplane, by certified check drawn upon a local bank.
4. Seller's Representations and Warranties. Seller makes the following representations and warranties, which shall survive the closing of the sale:
a. Seller Is Sole Owner. Seller is the sole owner of the airplane and has full right and power to sell and transfer it.
b. No Liens or Encumbrances. The airplane is free from any security interest or other lien or encumbrance.
c. Suits, Judgments, Etc. No judgments exist against Seller nor are there any executions, attachments, or replevins outstanding against Seller. Seller is not a defendant or respondent in any action or proceeding. No petition in bankruptcy or for an arrangement of creditors has been filed by or against Seller nor has Seller taken advantage of any insolvency laws.
d. Condition of Airplane. Seller specifically disclaims any warranties as to the physical and mechanical condition of the airplane. Buyer acknowledges inspecting the airplane and is purchasing it "as is." Seller will maintain the airplane in its present condition, reasonable wear and tear excepted, until it is delivered to Buyer. Seller has owned the airplane since [date].
5. Delivery of Airplane. The airplane will be delivered to Buyer at [address], on [date]. At the time of delivery, Seller will execute all forms needed to transfer ownership of the airplane in conformity with the applicable requirements of the U.S. Department of Commerce.
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