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AIRCRAFT RENTAL AGREEMENT

This Aircraft Rental Agreement (this “Agreement”) is made by and between Pilotsmith, Inc., a Wisconsin corporation (“Pilotsmith”), and the undersigned adult individual (“Renter”). Pilotsmith and Renter may be referred to in this Agreement individually as a “Party” and together as the “Parties”.

RECITALS

WHEREAS, Pilotsmith operates a flight school with training facilities located throughout the State of Wisconsin and the Upper Peninsula of Michigan;

WHEREAS, in conjunction with Pilotsmith’s operations, Pilotsmith rents aircraft to pilots and flight instructors who are certified by the Federal Aviation Administration (“FAA”) (any aircraft rented by Pilotsmith to Renter is hereinafter referred to as “Aircraft”);

WHEREAS, Renter intends to rent an Aircraft from Pilotsmith from time to time, either for Renter’s use or the use by the Authorized User (as defined in this Agreement); and

WHEREAS, the Parties desire to enter into this Agreement to set forth the terms and conditions of Renter’s rental of Aircraft from Pilotsmith.

NOW, THEREFORE, in consideration of the foregoing recitals, the terms and conditions set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

Term; Termination. The term of any Aircraft rental transaction under this Agreement shall commence as of the time scheduled by Renter for the Aircraft rental and shall continue until such time as the Aircraft is returned to, and secured at, Pilotsmith’s “home base.” For purposes of this Agreement and Pilotsmith’s Aircraft Rental Policies and Procedures, “home base” means Pilotsmith location from which the Aircraft is dispatched by Renter in accordance with this Agreement. Unless terminated earlier in accordance with this Section 1, this Agreement shall be effective on the date this Agreement is executed and delivered by both Parties and continue in effect for a term of one (1) year. Thereafter, this Agreement shall automatically renew on the same terms and conditions stated in this Agreement for additional, consecutive one (1) year terms. Notwithstanding anything contained in this Agreement to the contrary, this Agreement may be terminated as follows:

(a) by mutual written agreement of the Parties;

(b) by either Party by providing thirty (30) days’ written notice to the other party of the terminating Party’s intent to terminate this Agreement; or

Rental Fees; Additional Charges; After-Hours; Payment.

(a) Aircraft Rental Fee. Renter shall pay Pilotsmith for Aircraft rental at the hourly rates for the rented Aircraft as posted by Pilotsmith. Hourly rental rates for Aircraft are posted on Pilotsmith’s website (https://www.pilotsmith.com/rates) and are incorporated in this Agreement by reference. Pilotsmith, in its sole discretion, may from time to time adjust those hourly rates. Renter acknowledges and agrees that it is Renter’s responsibility to research Pilotsmith’s then-prevailing Aircraft rental rates before renting an Aircraft.

(b) Minimum Charges. Minimum rental periods are applicable on an Aircraft-by-Aircraft basis, are posted on https://www.pilotsmith.com/minimum-usage, and are incorporated in this Agreement by reference. Pilotsmith, in its sole discretion, may from time to time adjust those minimum rental periods. Renter acknowledges and agrees that it is Renter’s responsibility to research Pilotsmith’s then-prevailing minimum rental periods before renting an Aircraft. Renter agrees that, for renting an Aircraft, Pilotsmith will charge Renter (and Renter will be responsible for) no less than (i) the applicable hourly rate for the rented Aircraft multiplied by the minimum rental period or (ii) the applicable hourly rate for the rented Aircraft multiplied by Renter’s actual usage of the rented Aircraft, whichever is higher.

(c) Additional Fees. Renter acknowledges and agrees that Renter may be subject to additional fees and/or charges set forth in Pilotsmith’s Aircraft Rental Policies and Procedures, which can be found at https://www.pilotsmith.com/policies/ and are incorporated herein by reference. Pilotsmith, in its sole discretion, may from time to time amend, modify, or restate its Aircraft Rental Policies and Procedures and will notify Renter via e-mail within three (3) business days of any such amendment, modification, or restatement of its Aircraft Rental Policies and Procedures.

(d) Payment. Unless otherwise agreed to by Pilotsmith and Renter in writing prior to Renter’s rental of an Aircraft, Renter shall pay in full all amounts/fees charged to Renter under this Agreement upon the completion of Renter’s rental of the Aircraft pursuant to a rental transaction under this Agreement.

Damage to Aircraft. Renter is responsible for all damage to the rented Aircraft caused by Renter’s and/or the Authorized User’s (as applicable) negligent use or willful or intentional misuse of the rented Aircraft. Renter is responsible for all damage to the rented Aircraft caused by Renter and the Authorized User (as applicable) attaching devices to the rented Aircraft, including, but not limited to, suction cup mounts, yoke mounts, strut mounts, and camera mounts. Renter shall defend, indemnify, and hold harmless Pilotsmith, its owners, officers, directors, agents, and employees from and against all lawsuits, losses, claims, obligations, demands, assessments, penalties, liabilities, costs, damages, reasonable attorneys’ fees, and expenses incurred by any or all of the foregoing caused by Renter’s and/or the Authorized User’s negligent use, or willful or intentional misuse of the rented Aircraft and/or Renter and/or the Authorized User attaching devices to the rented Aircraft. Renter is responsible for loss of use of $500 per day for damages to aircraft caused by Renter’s and/or the Authorized User’s (as applicable) negligent use or willful or intentional misuse of the rented Aircraft. Renter is responsible for all damages caused to other persons or property caused by Renter’s and/or the Authorized User’s (as applicable) negligent use or willful or intentional misuse of the rented Aircraft.
Aircraft Rental Insurance. In order to rent an Aircraft, Renter must have current Non-Owned Aircraft Rental Insurance with a minimum of $50,000 physical damage coverage. A copy of the binder or declarations page regarding such insurance must be provided to Pilotsmith prior to Renter renting an Aircraft. Renter must notify Pilotsmith in writing of any changes made to such insurance and provide an updated copy to Pilotsmith. Renter’s Non-Owned Aircraft Rental Insurance must include loss of use coverage.
Compliance with Pilotsmith’s Aircraft Rental Policies and Procedures. Renter acknowledges and agrees that Renter and the Authorized User are subject to, and shall abide by, Pilotsmith’s Aircraft Rental Policies and Procedures, as amended, modified, or restated from time to time by Pilotsmith. Renter represents and warrants that Renter has reviewed Pilotsmith’s current Aircraft Rental Policies and Procedures with the Authorized User before executing this Agreement, and Renter fully understands Pilotsmith’s current Aircraft Rental Policies and Procedures. Renter’s and/or the Authorized User’s violation of Pilotsmith’s Aircraft Rental Policies and Procedures shall constitute a default under and/or breach of this Agreement. As provided in Section 2(c) above, Pilotsmith’s Aircraft Rental Policies and Procedures can be found at https://www.pilotsmith.com/policies/ and are incorporated herein by reference. As provided in Section 2(c) above, Pilotsmith, in its sole discretion, may from time to time amend, modify, or restate its Aircraft Rental Policies and Procedures, and such amended, modified, or restated Aircraft Rental Policies and Procedures shall become incorporated in this Agreement and binding upon Renter. Pilotsmith will notify Renter via e-mail within three (3) business days of any such amendment, modification, or restatement of its Aircraft Rental Policies and Procedures. If, upon being notified by Pilotsmith of any such amendment, modification, or restatement of Pilotsmith’s Aircraft Rental Policies and Procedures Renter, Renter does not desire to be bound by those modified, amended, or restated Aircraft Rental Policies and Procedures, then Renter may terminate this Agreement by providing written notice to Pilotsmith.

Indemnity, Waiver, and Release. Renter shall defend, indemnify, and hold harmless Pilotsmith, its owners, officers, directors, agents, and employees from and against all lawsuits, losses, claims, obligations, demands, assessments, penalties, liabilities, costs, damages, reasonable attorney’s fees, and expenses incurred by any or all of the foregoing caused by Renter’s and/or the Authorized User’s operation of the Aircraft. Renter acknowledges and understands there is a risk of injury involved in aircraft/airplane operations and participation in aviation activities. While FAA Regulations, Pilotsmith’s Aircraft Rental Policies and Procedures and other policies and procedures, personal discipline, and care may reduce the risk, the risk still exists and is accepted and assumed by Renter. Therefore, Renter knowingly and freely assumes all such risks, both known and unknown, and however arising. Renter assumes liability for all medical costs, attorney’s fees, and any other expenses and damages resulting from injury to Renter and/or the Authorized User.
Authorized User. The Parties acknowledge and understand that Renter may not be a FAA-certified pilot and is entering into this Agreement for the benefit of Renter’s child, who is under the age of eighteen (18) and whose name is set forth on the signature page to this Agreement (the “Authorized User”), and, so long as the Authorized User is a FAA-certified pilot and complies with the terms of this Agreement (that apply to the Authorized User) and Pilotsmith’s Aircraft Rental Policies and Procedures, Pilotsmith will allow Renter to rent an Aircraft for the benefit of the Authorized User and allow the Authorized User to use the rented Aircraft.
Pilotsmith Trade Name. Renter acknowledges and understands Pilotsmith operates its flight school using the name “CAVU Flight Academy”, and that name may appear on marketing, branding, and other Pilotsmith materials.
Miscellaneous. Except as set forth in Sections 2(c) and 5 of this Agreement, any notices required or authorized to be given by this Agreement will be deemed to have been properly given when either (a) delivered or mailed by certified mail to each Party’s respective addresses, as those addresses may be amended from time to time. This Agreement shall be governed by and construed in accordance with the laws of the State of Wisconsin, without regard to conflict of laws principles. Any dispute or disagreement regarding this Agreement shall be settled through an arbitrator picked by Pilotsmith, and that arbitrator’s ruling shall be legally binding upon the Parties. Renter shall be responsible for legal fees incurred by Pilotsmith in enforcing this Agreement (including, but not limited to, reasonable attorney’s fees incurred by Pilotsmith). Should any term or provision of this Agreement be held to be illegal, invalid, or unenforceable, such holding will not affect the validity or enforceability of the remaining terms or provisions of this Agreement. Renter’s rights and obligations under this Agreement shall not be transferred by assignment or otherwise, unless consented to by Pilotsmith. Renter may not assign this Agreement. Pilotsmith may assign this Agreement to its successors or assigns. This Agreement shall be binding upon and inure to the benefit of the Parties, their respective heirs, successors, and permitted assigns, and the Authorized User (if applicable). This Agreement, together with Pilotsmith’s Aircraft Rental Policies and Procedures, constitutes the entire agreement and understanding between the Parties as to the subject matter hereof and shall supersede any prior discussions or agreements. Except as provided in Sections 2(c) and 5 of this Agreement, this Agreement shall not be modified or amended except in writing signed by both the Parties.

If an Authorized User:

If Renter is entering into this Agreement for the benefit of Renter’s minor child:

Minor Name (Authorized User)
Minor Date of Birth

IN WITNESS WHEREOF, the Parties have executed and delivered this Agreement on the date set forth below.

Renter

Pilotsmith, Inc. Charlie Smith, President

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Signed by Charlie Smith
Signed On: August 27, 2024

Timestamp

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August 27, 2024 3:43 pm CST

Aircraft Rental Agreement Uploaded by Charlie Smith - charlie@pilotsmith.com IP 67.52.220.226

August 27, 2024 4:03 pm CST

Pilotsmith Support - doc-annual@pilotsmith.com added by Charlie Smith - charlie@pilotsmith.com as a CC'd Recipient Ip: 67.52.220.226

August 27, 2024 4:14 pm CST

Pilotsmith Support - doc-annual@pilotsmith.com added by Charlie Smith - charlie@pilotsmith.com as a CC'd Recipient Ip: 67.52.220.226