EFTA00589768.pdf

FTSA1.F.SSTUART April 14, 2011 Freedom Air International 3800 Southern Blvd, Suite 204 West Palm Beach, FL 10150 Attn: Larry Visosky VIA E-mail: biete Dear Mr. Visosky: JET SALES STUART, LLC, on behalf of our client is pleased to offer 51,750,000.00 for the Bell 407 Serial Number 53375, FAA Registration Number N491GM. This offer is subject to an acceptable pre-purchase inspection; and conveyance of clear title at closing. The pre-purchase inspection shall take place at Edwards and Associates to include an audit of the recently completed annual inspection, log and records review, and any other ancillary inspections as mutually agreed upon by Buyer and Seller; which shall be completed within 20 days from acceptance of this offer. Closing shall take place within 30 days from completion of the Pre-purchase inspection and acceptance. It is understood there is no damage history associated with the aircraft and the aircraft shall be delivered in airworthy condition with all Airworthiness Directives and Mandatory Service Bulletin's completed, on its Factory Maintenance Programs with all Life Limited Components up to date with no deferments or extensions, with all associated spare parts, manuals, complete and original log books, and all systems operating within manufacturers specifications. We are in position to pursue this transaction immediately. This offer is not subject to financing. If you elect to accept this offer, please fax back to me your executed signature and date of acceptance. At the time of your acceptance we will place a 550,000.00 deposit at Insured Aircraft Title Service, Inc. to the attention of Joan Roberts (800) 654-4882. If accepted, this offer will be superseded by a Formal Purchase Agreement to include these terms. Your quick response to this offer is appreciated. This offer is valid for 2 working days from the date of this offer. Beyond 2 days this offer may be extended or revised upon mutual agreement by both parties. Please feel free to call me with any questions or comments. ACCEPTED BY: Best Regards, Freedom Air International Date 2324 Liberator Lane, Suite 301, Stuart, Florida, 34996 772-220-1700 Phone ♦ 772-220-1409 Fax EFTA00589768