Responses from Sean

[Todd Brooks]

This certainly changes things.


--- On Wed, 4/8/09, Bob Irving <rhirving at verizon.net> wrote:

From: Bob Irving <rhirving at verizon.net>
Subject: Responses from Sean
To: eefc-core at workingcode.com
Date: Wednesday, April 8, 2009, 2:30 PM




 
 






Received
the following responses from Sean to my questions – see below. Biggest
surprise is TBO on engine. 

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. 

   

Perhaps
greatest value in buying 976 is that Eagle East will guarantee whatever loan we
need.. 

   

Bob 

   

   

-----Original
Message-----

From: Sean O'Leary [mailto:sean at eagle-east.com] 

Sent: Wednesday, April 08, 2009 2:10 PM

To: Bob Irving

Subject: Re: Follow up stuff and spreadsheet 

   

Bob
Irving wrote: 

>   

>
Here is the spreadsheet. 

>   

>
Would appreciate it if you would check to see if we are missing  

>
anything major. 

>   

>
Below is a list of follow-up items you were going to check for us; 

>   

> 
 

>   

>
1 – Use of
“Eagle East” in club name 

>   

As
we discussed; so far as there is no additional liability to Eagle  

East
I don't foresee an issue.  Alternately, you could also just call  

the
club "Eagle Flying Club" 

>   

>
2 – What is
the term of the current note? Is $650 the correct amount? 

>   

I
apparently gave you incorrect information.  Tim envisioned that the  

"club"
member's initial investment would pay of Eagle's current note and  

serve
a down payment on the new note.  Current payoff is close to  

$20,000.00
-- Eagle would then arrange for new financing that would be  

payed
by the club members.  Tim would have to give the final details of  

this
before moving forward. 

>   

>
3 – What
equity, residual value or what “buyout” amount would we have  

> at end of note? 

>   

N/A
in light of the new information 

>   

>
4 – What is
airframe time on 976? What is engine time? What is prop  

> time? When is next
annual due?  When is IFR certification due? 

>   

Airframe
time is around 4150hrs and I belive the engine is at TBO (2100) 

>   

>
5 – is the
engine Lycoming O-320? What are the dash numbers? 

>   

Still
investigating 

>   

>
6 – What
avionics upgrades (if any) would EE be willing to do to 976? 

>   

None
in light that the "lease" option being discussed this weekend has  

changed. 

>   

>
7 – Would EE
be willing to execute the agreement on 976 with a fresh  

> annual ? IFR
Certification? 

>   

Open
for negotiation. 

>   

>
8 – Notify
original meeting participants that they will hear from me  

> shortly with cost
info. Contact me if any questions. 

>   

Email
going out today. 

>   

> 
 

>   

>
Bob 

>   

   

   

   



 


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