Aircraft

AIRCRAFT LEASE AGREEMENT



THIS AIRCRAFT LEASE AGREEMENT is made and is effective on______________________, 200____
Between_____________________________________________________________________ the undersigned (Lessor) and Blue Aviation, LLC (Lessee) and is made with reference to the following facts:
A. Lessor is the registered owner (s) of the aircraft described herein and desires tolease such aircraft to Lessee.
B. Lessee desires to lease such aircraft from Lessor for the purpose of add aircraft to the Blue Aviation 135 certificate. THEREFORE, in consideration of the mutualcovenants and terms contained herein, the parties hereto agree as follows:

1. Lessor leases to Lessee the following described aircraft:
(a) FAA Reg. No.: N- (f) Lien holder name and address:
(b)Make: _________________ _________________________________
(c) Model: _________________ _________________________________
(d) Year: _________________ _________________________________

2.Lessee shall pay to the Lessor rental for such aircraft at the initial rate of $__________ per hour (“Maintenance time” & “Owner time” excluded) for each hour shown on the Hobbs meter or RecordingTachometer (if Hobbs meter is inoperative), during the term of this lease. Lessee shall not be responsible for the following time:
(a) Maintenance time: time incurred during which the helicopter was beingflown or taxied to or from a maintenance shop, time incurred while the airplane was in the maintenance shop and time incurred for maintenance test flights.
(b) Owner time: time when the owner or hisdesignee is flying the helicopter

3. Operational periods shall be from the first day of each month to the last day of each month, within operational constraints. Rental amounts shall be calculatedfor each operational period and the Lessee shall pay the Lessor all monies due as shown on the monthly use and operations statement on or before the 1st day of the second month following the subject...