EFTA00802477.pdf

September 1, 2018 JEGE LLC C/O Equus Global Aviation 5491 N University Dr. Ste 104A Coral Springs, FL 33067 Attn: Gary Anzalone Subject: Letter of Intent for the purchase of one Gulfstream IV aircraft bearing serial number 1085 Dear Mr. Anzalone, MMARA Group, LLC and or designee ("Purchaser") hereby submits this Letter of Intent ("LOI") to JEGE LLC and/or designate assigns ("Seller") for the purchase of one (I) Gulfstream IV aircraft bearing serial number 1085 and registration number N120JE (the "Aircraft") subject to the following terms and conditions: I. The purchase price of the Aircraft is Three Million One Hundred Thousand United States Dollars ($ 3,100,000) (the "Purchase Price") 2. Within 5 business day of execution of this LOI (the "Execution Period"), Buyer shall deposit into escrow a fully refundable deposit in the amount of Five Hundred Thousand US Dollars ($500,000) into an Escrow Company of the Seller's but based in Switzerland 3. Within 5 business day ofthe escrow deposit, Buyer has the option to conduct a visual inspection of the aircraft, at the Le Bourget LFPB in Paris. Upon visual acceptance, Buyer reserves the right to conduct a log book review, aircraft test flight to verify all systems in working order. Test flight not to exceed 2 hours. Buyer shall have the option of conducting engine borescope examination. All inspections at a time and location mutually agreeable. In addition, the STC records shall be made available to Marc Dusseau of Jet Aviation Basel. 4. The buyer shall accept or reject proceeding with the purchase of the aircraft within 2 days following the inspection and test flight identified in Item 3 above. 5. Following acceptance, the Buyer shall prepare and send to Seller a draft Purchase Agreement to be executed by both parties within Five (5) business days following the execution of this LOI (the "Execution Period"). 6. Seller shall deliver the Aircraft to Purchaser as represented in the attached specifications (Exhibit A) at a delivery location agreed among the parties (i) "AS IS WHERE IS"; (ii) in an airworthy condition; (iii) with all systems fully operational and functioning normally; (iv) with the all maintenance current and done and; (v) with a complete, continuous, up-to-date and accurate set of original logbooks and manuals; (vi) delivered free and clear of all liens, claims and / or encumbrances , with good and marketable tittle. (vii) all programs (engines, camp...) paid, in a good standing and transferrable at the change of ownership. 7. It is expressly agreed that all information pertaining to this transaction will be considered strictly confidential and will not be disclosed to any other party without the written consent of both parties ("Confidentiality"). 8. The agreement should be subject to International Law and the court should be an ICC court EFTA00802477 9. This LOI expires and shall be of no further force and effect unless we have received a duly executed counterpart (which may be a facsimile) before 5:00 P.M. Eastern Daylight Time Wednesday, September 5, 2018 10. The parties agree and acknowledge that this LOI constitutes a non-binding letter of intent and is not intended to create any legal obligation or enforceable right in any party, except for the provisions regarding Confidentiality which the parties agree create legal and binding obligations. If for any reason whatsoever the formal aircraft Purchase Agreement is not signed during the Execution Period, unless otherwise mutually extended in writing, then, this LOI shall be null and void, and neither party shall have any further rights or obligations under this Letter of Intent. Seller: JEGE LLC 6100 Red Hook Qtrs, Suite B-3 St Thomas, 00802-1348 Virgin Islands Manager Date: Lawrence Visoski September 5, 2018 Purchaser: MMARA Group, LLC 16192 Coastal Highway Lewes, DE 19958 Title: CFO Date: September 1, 2018 EFTA00802478