Walk Away Promissory Note rev:April 2017
FOR VALUE RECEIVED, _________________, promises to pay to Sport Flying USA, Inc., his heirs, successors and assigns, the principal sum of $_______. The note shall be paid at a later date, and financed interest only at 12% APR.
All sums due here under shall be payable to Sport Flying USA, Inc. at the following address:
PO BOX 623
Remsenburg, NY, 11960
Or at such other place as Louis Mancuso his heirs, successors and assigns may specify in writing.
This Note is secured by a .001 share of stock in Sport Flying USA, Inc. which represents use of a Bristell N______ for up to 60 hours per year with one exclusive 2 week use. This is a 1/4 or 1/6th share in the Bristell Share program.
In the event ______________, shall default in payment of any installment of principal when the same shall become due and payable here under and such default shall not be cured within thirty (30) days, then the holders of this Note may, at their option, take possession of the aircraft and the buyer shall forfeit all monies paid to date. In that event, _____________ shall not be liable for any portion of the unpaid note and can SIMPLY WALK AWAY with no obligation whatsoever.
This Note is non-negotiable.
Sport Flying USA, Inc.
BRISTELL SHARES AIRCRAFT ARE EQUIPPED WITH GREAT AVIONICS and Autopilot
NEW BRISTELL AIRCRAFT ARE EQUIPPED WITH TEN INCH GARMIN G3X TOUCH SCREEN
ALTITUDE HOLD AND GPS TRACKING
GARMIN 20A ADS-B OUT TRAFFIC RECEIVER
GTX45R TXP FOR TRAFFIC, TFR'S, AND WEATHER
Bristell Shares-How it works 5FA1 Rev 20 Dec 2018 N922BL or N170AV S17
START WITH A $200 DEMO FLIGHT
IF you like your demo, you can purchase 15 hours for a reasonable price to be flown in 6 months with no minimums and 1 week exclusive use
If a pilot chooses to buy a share his cost are outlined in the share cost analysis sheet.
You can always walk away from the note at anytime with no costs.
Prospective shareholder must complete “The Landing Doctor” LSA Transition Course and earn a Bristell Challenge coin. They must pass the Bristell/Rotax quiz and compete a Personal Limitations Checklist, which will be sent with the all payments to Sport Flying USA, Inc. PO Box 623 Remsenburg, NY 11960.
The cost of hangar and insurance are outlined in the share cost analysis sheet.
The by laws explain the rules.
You must complete the LSA Transition Course and earn a Bristell Challenge coin prior to acceptance.
You can earn a Challenge Coin by;
Landing on the main gear within the first 400 feet of the runway.
Landing with the runway center line between the main gears with no side load.
Initiating a go around after 300 feet without touching the nose gear.
Being sure the nose is not too high upon initiating the go around.
This must be done on a day with a minimum of a 6 knot crosswind.
You will be limited to a 6 knot crosswind component for the first ten hours.
The primary shareholder or his assignee will have access to the aircraft for 3 weeks per year and will use the aircraft for demo flights and pay the appropriate hourly fee.
The primary shareholder has the right to sell the plane if he fails to sell enough shares.
Bristell shares has a reciprocal agreement with other participating Bristell share programs throughout the USA.
Bristell shares’ goal is to limit the number of shareholders to 5 or less for insurance reasons.
All shareholders will graduate GPA training prior to solo.
WALK AWAY CLAUSE….A shareholder may walk away from his share by returning his stock certificate and not be responsible for the balance of his loan payments.
All scheduling will be done through the Team Up App.
Aero Adventure Aventura S17 powered by the 117 HP Suzuki automotive fuel injected engine and modified with a gear box by the brillant Mike Kettering of Aero Momentum in Florida.
Lou Mancuso 516-658-1847
"The Landing Doctor"
Learn how to fly in 2 weeks for $10,000
Email email@example.com to find out more.
All Bristell Shares flying club potential members become eligible to purchase a shares in one of our Bristell shares aircraft after they complete a PLC, the information Quiz, and earn a Bristell challenge coin. To earn a coin the pilot must land within 400 feet of the desired touch down spot on a day with a minimum of 6 knots crosswind. The pilot must land on the main wheels and on the center line with no crab and track straight down the runway. The nose must be held slightly off the runway for 300 feet while the aircraft energy is dissapated. A go-around is then initiated without letting the nose get too high. The pilot will accelerate to Vy of 67 knots while remaining in ground effect.
Lou Mancuso is proud to bring you Bristell Shares, a flying club that combines "The Landing Doctor" three part training protocol with the efficient ,comfortable, and affordable Bristell LSA. Our Bristell Shares flying club concept is guided by by-laws that Lou has been using for over 15 years in his 1975 Turbo Seneca partnership. The Bristell Share program is currently offered in Islip, New York, The Villages, FL and Sebring, Florida.