Walk Away Promissory Note rev:April 2017
$ 5,750.00 principal
FOR VALUE RECEIVED, _________________, promises to pay to Sport Flying USA, Inc., his heirs, successors and assigns, the principal sum of $5,750.00. 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 .05575 share of stock in Sport Flying USA, Inc. which represents use of a Bristell N______ for up to 15 hours per year with one exclusive week use. This is a 1/32nd 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 hereunder 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.
Lou Mancuso 516-658-1847
BRISTELL SHARES PROGRAM
LSA AIRCRAFT LEASE
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.
Bristell Shares-How it works KLNS & 5FA1 Rev MAY 2017 N122ZB OR N516BL
A pilot starts with a 1/32nd share for $85/mo and $50/hr. This is prepaid for a cost of $1770.
This allows 15 hours within 6 months.
The total wet hourly cost comes to $118 per hour, with no minimums and 1 week exclusive use
If a pilot chooses to buy a 1/16TH share, his total cost for 30 hours of use is $3500 prepaid.
The total wet hourly cost comes to $115 per hour, with no minimums and 3 weeks of exclusive use
The cost brake down as follows:
$5,750 financed with interest only at 12% APR. The pilot signs a walk away note.
You can always walk away from the note at anytime with no costs.
Prospective shareholder must complete “The Landing Doctor” 6 hour 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 is $27.50 per month for each 1/32nd share.
Shareholders get exclusive use for 3 weeks per year, spaced one week every 4 months.
When you want to fly you post your name on Teamup, our scheduling APP.
When it is not your week, you text whose week it is and request use of the plane.
Each 1/16th share is allowed 30 hours per year.
If you exceed your allotted hours, you can buy hours for $150/hour wet from the primary shareholder.
Your hourly costs are $50 per hour and are broken down as follows:
Fuel charge is $30 per hour (100LL or 93 Oct auto gas)
Maintenance reserve account contribution is $20 per hour.
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 centerline 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 allows students with a $300 additional annual charge for added insurance costs.
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 9 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.
COST: $85/mo $50 PER HOBBS HOUR WET-15 hrs in 6 months-1/32nd Total costs $1770 or $118/hr
Best deal: Pay for 30 hours of use with fuel for a total of $3500 and have an hourly cost of $115 per hour.
PLEASE CLICK ON THE VIDEO TAB ABOVE FOR GARMIN EDUCATIONAL VIDEOS
MAKE $59,000 PER YEAR...let us show you how
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.
Lease a Bristell...$11,000 down and $1452 per month
BRISTELL SHARES AIRCRAFT ARE EQUIPPED WITH Garmin AVIONICS and Autopilot
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
Learn how to fly in 2 weeks for $10,000
Email firstname.lastname@example.org to find out more.