EFTA00660744.pdf

From: To: jeevacation@gmail.com Subject: Fwd: Boeing 727 Date: Thu, 05 Jan 2012 20:36:44 +0000 fyi,. From: To: CC: Sent: 1/5/2012 3:35:07 P.M.Eastern Standard Time Subj: Re: Boeing 727 Don, What about the C2 Check and the additional engine work that is to be done on the plane. We would need to include that work to be completed as part of the purchase and sale. I will discuss the separate contracts with Tarek but we must include the Pre conditions and work that will be done by the current owner as part of this sale agreement. Mohamed Dobashi On Jan 5, 2012, at 2:52 AM, "Don Bass" 4: 11.. l> wrote: Dear Mohamed, Further to your email dated January 2nd, attached please find a Letter of Intent to reflect the sale of the Boeing 727 at the agreed upon price of 3.7M, or 4.2M including the anticipated 500K worth of modifications. As we discussed when you and Tarek visited us in Annapolis, the seller is unable to be a party to the post closing modification work. This subject has been discussed again today with the owner and he has made it clear that he is not willing to enter into a contract involving the completion work. The Letter of Intent attached, however, provides very clearly for the simultaneous negotiation of an Aircraft Purchase Agreement and a separate Completion Agreement to be entered into with International Jet Interiors of Long Island, NY. It is not anticipated that the Aircraft Purchase Agreement would be executed prior to your execution of a mutually agreeable Completion Agreement. I have spoken with the President of IJI and he will be able to accommodate the painting of the Al Faisal logo during the modification work. There will be, of course, an additional charge for the paint work, which can be defined as part of the Completion Agreement. We have a current request to show the aircraft to another interested party; however, prior to doing so, I think it is in the best interest of both parties to determine if we are able to proceed given the efforts put forth thus far. Sincerely, Don Bass Managing Partner AVPRO Inc. 900 Bestgate Road, Suite 412 EFTA00660744 Anna olis, MD 21401 <Letter of Intent for B727-100#20115.doc> EFTA00660745