Terms and Conditions: SkyRunner Deposit Agreement
The undersigned (“Buyer”) is making a deposit with SkyRunner for the purchase of a SkyRunner MK 3.2 according to the following Deposit Agreement. As used herein, “SkyRunner” refers to SkyRunner, LLC., a Louisiana limited liability company.
Section 1 DEPOSIT
This Deposit Agreement outlines the deposit terms for the SkyRunner MK 3.2
ASTM Standards: Aircraft will meet or exceed: A) requirements established by ASTM F2244 standard: “Design and Performance Requirements for Powered Parachute Aircraft,” or B) conditions set forth by the FAA in an FAA exemption that allows operation under 14 CFR (exemption # 15422) Seats: 2 Maximum Takeoff Weight: 1430 lbs
Customers can secure the next available MK 3.2 delivery position using a credit card to place a deposit either online or by calling SkyRunner directly at (318) 219-5722. The following terms apply to the Standard Deposit Program:
Aircraft: SkyRunner MK 3.2
Price: $139,000 USD [see Exhibit A for base specs the list below for add-ons]
Deposit (PD): $5,000
PD Refundable: No
Estimated Delivery Time: 60-90 days
NOW, THEREFORE, in consideration of the mutual covenants set forth herein and other good and valuable consideration, receipt of which is acknowledged, SkyRunner and Buyer (each a “Party,” and collectively the “Parties”) agree as follows:
Section 2 POSITION LIST AND DELIVERY
Section 2.1 – Upon receipt of a signed Deposit Agreement and Position Deposit, SkyRunner will assign Buyer a delivery position (“Position Number”) on the position list. Delivery positions are offered on a first come, first served basis, and are subject to changes, as determined by SkyRunner in its sole discretion. [Production aircraft designated for SkyRunner marketing campaigns, factory or dealer demonstrators, flight testing, or any other exhibition or advertising activities are not intended for sale to the general public and are not considered part of the position list.
Section 2.2 – Production and delivery dates may vary. Scheduled date of delivery (“Delivery Date”) shall be determined in writing with the client.
Section 3 AIRCRAFT PURCHASE AGREEMENT; MANUFACTURING DEPOSIT
Section 3.1 – Prior to expected Delivery Date, SkyRunner will inform Buyer in writing of the expected initiation of production of the Aircraft (“Production Notice”) and provide Buyer with a form of SkyRunner’s Purchase Agreement (“Purchase Agreement”). The Purchase Agreement will include various terms and conditions, and depending upon the then current international, federal, state and/or local laws, may include certain conditions of purchase as required by then applicable international, federal state and/or local laws. The final purchase price (“Purchase Price”) will be listed in the Aircraft Purchase Agreement.
Section 3.2 –
(i) Buyer shall select any optional equipment or services for the Aircraft,
(ii) Buyer shall execute and deliver a counterpart of the Aircraft Purchase Agreement and
(ii) Buyer shall submit the Manufacturing Deposit.
SkyRunner must receive the 50% Manufacturing Deposit within 10 calendar days of your notified production schedule or else SkyRunner may alter delivery timeline. The balance of the Aircraft Purchase Price shall be due upon delivery, pursuant to the Aircraft Purchase Agreement. The Manufacturing Deposit may be made by check or wire transfer. Please see below for wire transfer information.
Section 4 SPECIFICATIONS
Section 4.1 – The Preliminary Standard Specifications of the Aircraft are shown on “Exhibit A” attached hereto. SkyRunner will, as part of the Aircraft Purchase Agreement, inform Buyer of the detailed specifications for the Aircraft, which will include final dimensions, standard equipment, performance specifications, documentation, etc. The terms of the Aircraft Purchase Agreement will supersede the terms of this Deposit Agreement and any other specifications referred to on our website or otherwise in any materials or information provided by or on behalf of SkyRunner.
Section 4.2 – Buyer expressly acknowledges that Buyer has not relied on any oral or written representations except as specifically stated in the Aircraft Purchase Agreement and that SkyRunner has made no representations as to the suitability of the Aircraft for any particular purpose of Buyer. Buyer acknowledges that the Aircraft is for recreational use and is not a general aviation aircraft and is not suited for commercial transport or aerobatics.
Section 5 DEPOSITS; PURCHASE PRICE
Section 5.1 – On the Delivery Date, the Position Deposit and the Manufacturing Deposit (collectively, the “Deposits”), in each case including accrued interest, shall be applied to the Purchase Price.
Section 5.2 – Deposits shall be held in an interest bearing account (“Holding Account”) with JP Morgan Chase Bank or such other bank selected by SkyRunner in its sole discretion (“Bank”). Buyer agrees to provide information that may be requested by the Bank, including without limitation, information to confirm the Bank’s compliance with state and federal laws against terrorism and money laundering activities. When a Buyer executes an Aircraft Purchase Agreement, SkyRunner will direct the release of the Deposits (plus accrued interest) to be applied toward the Purchase Price.
Section 5.3 – The Purchase Price is exclusive of any sales or use tax, value-added taxes, duties, registration and licensing fees or any charges that may be levied by governmental authorities in connection with the purchase, sale, transfer, use, registration, export, import of the Aircraft (collectively, “Taxes”). Taxes required by law to be charged at the point of sale will be collected by SkyRunner. (Note: a deposit does not constitute a sale).
Section 6 TERMINATION
Section 6.1 – Buyer may cancel this Deposit Agreement without penalty, in the event SkyRunner is unable to fulfill the order within twelve (12) months of receiving an initial deposit. Buyer must notify SkyRunner of their intent to cancel within the eight calendar month timeline (beginning on the day of your deposit). The Deposit will be refunded to the credit card or account if used for such Deposits. Any interest accrued shall also be paid to Buyer on the refund of Deposits or other pre-delivery payments.
Section 6.2 – Buyer may terminate this Deposit Agreement, and the deposit shall be forfeited to SkyRunner, if any of the Buyer fails to make final payment of the Purchase Price in a timely manner that is compliant with the Deposit Agreement or the Aircraft Purchase Agreement.
Section 7 LIMITATION OF LIABILITY FOR BUYER AND SELLER
NOT WITHSTANDING ANYTHING TO THE CONTRARY; (I) THE MAXIMUM LIABILITY BUYER SHALL HAVE TO SKYRUNNER FOR ANY BREACH OF THIS DEPOSIT AGREEMENT OR OTHERWISE ARISING OUT OF OR RELATING TO THIS DEPOSIT AGREEMENT SHALL BE FORFEITURE OF ALL DEPOSITS (PLUS ACCRUED INTEREST) MADE BY BUYER. (II) THE MAXIMUM LIABILITY SKYRUNNER SHALL HAVE TO BUYER FOR ANY BREACH OF THIS DEPOSIT AGREEMENT OR OTHERWISE ARISING OUT OF OR RELATING TO THIS DEPOSIT AGREEMENT SHALL BE A FULL REFUND (PLUS ACCRUED INTEREST) AND IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR CONSEQUENTIAL, INDIRECT, PUNITIVE, INCIDENTAL OR SPECIAL DAMAGES WHATSOEVER ARISING OUT OF OR RELATING TO THIS DEPOSIT AGREEMENT.
Section 8 NOTICES
Section 8.1 – Any notice to be given under this Deposit Agreement may be sent by email or by pre-paid overnight delivery (for example, FedEx) or wire transfer to Buyer’s address set forth below or to SkyRunner’s address set forth below. Each notice or demand shall be deemed to have been given or made when actually received or 24 hours after being sent, whichever occurs first.
Section 8.2 – Buyer acknowledges that “documents” associated with this Deposit Agreement may be digital and that such “documents” are agreed to be equivalent to “paper” documents. Also, communications to/from the email address specified by Buyer shall constitute delivery of the equivalent of “signed” documents.
Wire Transfer Instructions
Contact SkyRunner at 318-219-5722
2929 Baird Rd. Bldg #50,
Shreveport, LA 71118
Phone (318) 219-5722
Exhibit A: SPECIFICATIONS
SkyRunner MK 3.2
ASTM Standards: Aircraft will meet or exceed the requirements as established by the ASTM standard: “Standard for Specifications for Design and Performance of a Light Sport Airplane.”
Maximum Takeoff Weight: 1,320 lbs (1,430 lbs exemption #15422).
Dry weight: 1,150 lbs (pending options)
Fuel Cell: 16 gallons
Fuel: 91-93 Octane
Ground: ProStar 1000 4-Stroke SOHC Twin Cylinder 89 hp.
– Drive: 4-Stroke SOHC Twin Cylinder
– Transmission: Automatic CVT P/R/N/L/H; Shaft
– Drive System: High Performance, On-Demand
– Cooling: Liquid
– Fuel System: Electronic Fuel Injected
Aircraft: Rotax 914 UL 115 hp
– Cooling: Liquid
– Fuel System: Carbureted (Rotax)
– Maximum Speed: 70 mph (ground); 40 mph (air)
– Range: 220+ miles (ground); 120+ miles (air)
– Takeoff & Landing Distance: 450 ft
– Shocks: Fox Podium 1.5 & 2.0
– Wing Options: PD Sunriser 550
– Propeller: 4 blade Powerfin 75″ or 4 blade Warp Drive 72”
– Engine Monitoring Systems #1 (EMS): State-of the-art EMS to continuously monitor the Rotax aircraft systems.
– Engine Monitoring Systems #2 (EMS): Digital Gauge: Speedometer, Odometer, Tachometer, Two Tripmeters, Hour Meter, Clock, Service Time, Diagnostic Indicator, Gear Indicator, Fuel Gauge, Hi-Temp/Low-Batt Lights, DC Outlet
– VHF Communication Radio
– Fuel Gauge
– Pilot Operating Handbook (POH) + APP
– Maintenance Manual (ground & air)
– Weight and Loading
– FAA Airworthiness Certificate
The Preliminary Standard Aircraft Specification is shown above. SkyRunner will inform Buyer of the detailed specifications before assembling their aircraft; including final dimensions, equipment, performance specifications, documentation, etc. Any specifications referred to on our website, or otherwise in any materials or information provided by SkyRunner (other than the Purchase Agreement) are preliminary and may be changed, especially if required by ASTM standards or else necessary for our S-LSA Special Light Sport Aircraft certification.
I HAVE READ AND UNDERSTAND THIS DEPOSIT AGREEMENT AND I AGREE TO ITS TERMS AND INTEND TO CREATE A BINDING AGREEMENT BY COMPLETING THE PAYMENT FORM ON THE FOLLOWING PAGE.