<table cellspacing="0" cellpadding="0" border="0" ><tr><td valign="top" style="font: inherit;">This certainly changes things.<br><br><br>--- On <b>Wed, 4/8/09, Bob Irving <i><rhirving@verizon.net></i></b> wrote:<br><blockquote style="border-left: 2px solid rgb(16, 16, 255); margin-left: 5px; padding-left: 5px;"><br>From: Bob Irving <rhirving@verizon.net><br>Subject: Responses from Sean<br>To: eefc-core@workingcode.com<br>Date: Wednesday, April 8, 2009, 2:30 PM<br><br><div id="yiv1869066095">
<style>
<!--
#yiv1869066095
_filtered #yiv1869066095 {font-family:Calibri;panose-1:2 15 5 2 2 2 4 3 2 4;}
_filtered #yiv1869066095 {font-family:Tahoma;panose-1:2 11 6 4 3 5 4 4 2 4;}
_filtered #yiv1869066095 {font-family:Consolas;panose-1:2 11 6 9 2 2 4 3 2 4;}
#yiv1869066095
#yiv1869066095 p.MsoNormal, #yiv1869066095 li.MsoNormal, #yiv1869066095 div.MsoNormal
{margin:0in;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri", "sans-serif";}
#yiv1869066095 a:link, #yiv1869066095 span.MsoHyperlink
{color:blue;text-decoration:underline;}
#yiv1869066095 a:visited, #yiv1869066095 span.MsoHyperlinkFollowed
{color:purple;text-decoration:underline;}
#yiv1869066095 p.MsoPlainText, #yiv1869066095 li.MsoPlainText, #yiv1869066095 div.MsoPlainText
{margin:0in;margin-bottom:.0001pt;font-size:10.5pt;font-family:Consolas;}
#yiv1869066095 p.MsoAcetate, #yiv1869066095 li.MsoAcetate, #yiv1869066095 div.MsoAcetate
{margin:0in;margin-bottom:.0001pt;font-size:8.0pt;font-family:"Tahoma", "sans-serif";}
#yiv1869066095 span.EmailStyle17
{font-family:"Calibri", "sans-serif";color:windowtext;}
#yiv1869066095 span.BalloonTextChar
{font-family:"Tahoma", "sans-serif";}
#yiv1869066095 span.PlainTextChar
{font-family:Consolas;}
#yiv1869066095 .MsoChpDefault
{}
_filtered #yiv1869066095 {margin:1.0in 1.0in 1.0in 1.0in;}
#yiv1869066095 div.Section1
{}
-->
</style>
<div class="Section1">
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Received
the following responses from Sean to my questions – see below. Biggest
surprise is TBO on engine.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Had
a brief conversation with Tim via phone a few moments ago. He is interested in
working with us. Price of 976 will depend upon what he puts into it – new
PennYan engine? New avionics ? He stresses that he wants to be fair and I
believe him. He will work with us if we buy 976 or if we buy something else.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;"> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Perhaps
greatest value in buying 976 is that Eagle East will guarantee whatever loan we
need.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;"> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Bob</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;"> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;"> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">-----Original
Message-----<br>
From: Sean O'Leary [mailto:sean@eagle-east.com] <br>
Sent: Wednesday, April 08, 2009 2:10 PM<br>
To: Bob Irving<br>
Subject: Re: Follow up stuff and spreadsheet</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;"> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Bob
Irving wrote:</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
Here is the spreadsheet.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
Would appreciate it if you would check to see if we are missing </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
anything major.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
Below is a list of follow-up items you were going to check for us;</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">1 – Use of
“Eagle East” in club name</span></font></b></span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">As
we discussed; so far as there is no additional liability to Eagle </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">East
I don't foresee an issue. Alternately, you could also just call </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">the
club "Eagle Flying Club"</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">2 – What is
the term of the current note? Is $650 the correct amount?</span></font></b></span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">I
apparently gave you incorrect information. Tim envisioned that the </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">"club"
member's initial investment would pay of Eagle's current note and </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">serve
a down payment on the new note. Current payoff is close to </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">$20,000.00
-- Eagle would then arrange for new financing that would be </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">payed
by the club members. Tim would have to give the final details of </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">this
before moving forward.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">3 – What
equity, residual value or what “buyout” amount would we have </span></font></b></span></font></p>
<p class="MsoPlainText"><b><font color="red" size="2" face="Consolas"><span style="font-size: 10.5pt; color: red; font-weight: bold;">> at end of note?</span></font></b></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">N/A
in light of the new information</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">4 – What is
airframe time on 976? What is engine time? What is prop </span></font></b></span></font></p>
<p class="MsoPlainText"><b><font color="red" size="2" face="Consolas"><span style="font-size: 10..5pt; color: red; font-weight: bold;">> time? When is next
annual due? When is IFR certification due?</span></font></b></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Airframe
time is around 4150hrs and I belive the engine is at TBO (2100)</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">5 – is the
engine Lycoming O-320? What are the dash numbers?</span></font></b></span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Still
investigating</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">6 – What
avionics upgrades (if any) would EE be willing to do to 976?</span></font></b></span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">None
in light that the "lease" option being discussed this weekend has </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">changed.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">7 – Would EE
be willing to execute the agreement on 976 with a fresh </span></font></b></span></font></p>
<p class="MsoPlainText"><b><font color="red" size="2" face="Consolas"><span style="font-size: 10.5pt; color: red; font-weight: bold;">> annual ? IFR
Certification?</span></font></b></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Open
for negotiation.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
<b><font color="red"><span style="color: red; font-weight: bold;">8 – Notify
original meeting participants that they will hear from me </span></font></b></span></font></p>
<p class="MsoPlainText"><b><font color="red" size="2" face="Consolas"><span style="font-size: 10.5pt; color: red; font-weight: bold;">> shortly with cost
info. Contact me if any questions.</span></font></b></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">Email
going out today.</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">>
Bob</span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;">> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;"> </span></font></p>
<p class="MsoPlainText"><font size="2" face="Consolas"><span style="font-size: 10.5pt;"> </span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size: 11pt;"> </span></font></p>
</div>
</div><br>-----Inline Attachment Follows-----<br><br><div class="plainMail">_______________________________________________<br>eefc-core mailing list<br><a ymailto="mailto:eefc-core@workingcode.com" href="/mc/compose?to=eefc-core@workingcode.com">eefc-core@workingcode.com</a><br><a href="https://www.workingcode.com/mailman/listinfo/eefc-core" target="_blank">https://www.workingcode.com/mailman/listinfo/eefc-core</a><br></div></blockquote></td></tr></table><br>