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<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>Greetings
to all. We have come up with some numbers and want to run them by
everyone to see what the interest level might be. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>WORD
OF CAUTION – this is by no means a final decision. We simply want to try
to measure the level of interest in joining “Eagle East Flying
Club” if we decided to purchase – a 1974 Cessna 172M with 5700 Hrs
TT and 1600 Hrs on the engine. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>The
engine has about 400 Hrs remaining before it must be replaced. The 400 Hrs
remaining could come quickly if we have 15 members flying the plane. We
don’t want to lowball monthly dues and hourly cost only to hit everyone
with a surprise special assessment for a new engine 6 months down the
road. Therefore – with 15 members first year per member costs for
this airplane look like this;<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>Buy-in
(engine reserve/down payment on aircraft) = $1450<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>Monthly
dues = $55<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>Hourly
rate (wet) = $65<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>These
numbers include everything we can think of including financing costs,
insurance, normal maintenance, annual inspection, taxes, tiedown, etc.
After year 1 our aircraft would have a brand new zero time engine.
Perhaps it would be upgraded at time of install from 150 hp engine to 180
hp. Some are already discussing adding a GPS but that’s down the
road… <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><b><font size=2 face=Calibri><span style='font-size:11.0pt;
font-weight:bold'>Would you be interested in forming a club if these were the
numbers? </span></font></b> If these numbers are not what you expected,
tell me what you might be more comfortable with. Please send me your comments. We
need feedback. Thank you.<o:p></o:p></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'>Bob
Irving <o:p></o:p></span></font></p>
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