MEMBERSHIP & PAYMENT

MEMBERS MAY PAY BY CHECK, WRITTEN TO CLOUD SEEKERS AND DELIVERED TO:

CLOUD SEEKERS

C/O SCOTT SEEK

521 BAILEY RD

CRYSTAL CITY, MO. 63028

OR MEMBERS MAY PAY ONLINE BY CLICKING ON THE BUTTONS BELOW.

NOTE: ONLY MEMBERS ARE ALLOWED TO UTILIZE THIS EASY INTERNET BUTTONS AS PAYMENT FOR MEMBERSHIP, ALL OTHER TRANSACTIONS WILL BE CONSIDERED A DONATION TO THE CLOUD SEEKERS AND WILL BE USED FOR CLUB EXPENSES. 

CLUB PRICING IS AS FOLLOWS*

TOTAL SHARES ARE YET TO BE DETERMINED.  NUMBER OF SHARES WILL BE BETWEEN 3 AND 6 SHARES.  THIS PRICING WILL SHOW EXAMPLES BETWEEN 5 OR 6 SHARES. 

MONTHLY MEMBERSHIP DUES:

5 SHARES: $55

6 SHARES: $50

HOURLY TAC TIME FLIGHT COST:

$10 / PER HOUR OF TAC TIME BROKEN BY 1/10THS OF AN HOUR. 

DONATIONS FROM NON CLUB MEMBERS ARE WELCOME AND CAN BE UTILIZED FOR COST OFFSET TO ALL OR A PARTICULAR CLUB SHARE HOLDER.  PLEASE USE THE BUTTONS FOR THE DONATION. 

INITIAL MEMBER BUY IN FROM CLUB**

5 SHARES: $7,400

6 SHARES: $6,170

FINANCING OPTION:

SHARE PURCHASE PRICE $37,000

MONTHLY PAY OPTION FOR TOTAL OF 60 MONTH PAYMENT SCHEDULE:

EARLY PAYOFF IS ACCEPTABLE AND ENCOURAGED- 

FINANCING IS SUBJECT ONLY TO THE INITIAL CLUB PURCHASE OF SHARES AND INITIAL BUY IN OF THE CLUB MEMBERSHIP. SUBSEQUENT MEMBERSHIP WILL BE SUBJECT TO THE SHARE OWNER.  

DURING FINANCING OPTION SHARES ARE TRANSFERABLE FOR CONTINUATION OF PAYMENT AS STATED WITH FULL SHARE TRANSFER TO NEXT SHAREHOLDER OR PAYOFF OF SHARE USING PAYOFF METHOD FROM ORIGINAL OWNER OF MEMBERSHIP SHARE. THE CLUB IS ONLY CONCERNED WITH  ORIGINAL PAYOFF AMOUNT.  PROFIT BY TRANSFER OF SHARES WILL NOT BE CALCULATED BY THE CLUB BETWEEN PARTIES TRANSFERRING SHARES. 

THERE ARE 5 TO 6 TOTAL SHARES OF CLUB MEMBERSHIP.  OUTSIDE OF ORIGINAL CLUB PURCHASE OF SHARES, SHARE PRICES WILL BE DETERMINED BY MAKING A MARKET IN THE SHARE ITSELF.  CLUB MEMBERS ARE FREE TO MAKE THE MARKET IN HIS OR HER OWN SHARE SO LONG AS DUES AND COSTS ARE UP TO DATE.  IF HOWEVER DUES AND COSTS ARE UNPAID BY SHARE HOLDER FOR SPECIFIED TIME IN BYLAWS, THAT MEMBER'S SHARE WILL BE FORFEITED AND RETURN TO CLUB.  A MARKET WILL BE MADE BY CONSENSUS OF REMAINING CLUB MEMBER SHARE HOLDERS AND MARKET WILL BE MADE FOR NEW SHARE PRICE FOR NEW MEMBER.  A MEMBERSHIP APPLICATION REVIEW WILL BE OPENED.

PAYMENTS FOR FINANCING WILL BE BASED UPON THE AMORTIZATION OF THE ORIGINAL FINANCING OF THE PLANE AND THE CLUB BASED ON A LOAN FOR 37,000.  THIS WILL PRODUCE A MONTHLY PAYMENT SCHEDULE.  THE FINANCING PAYMENT WILL BE SPLIT BY EACH MEMBER OPTING FOR THE FINANCING OPTION.  IF EARLY PAYOFF IS PRODUCED BY ONE OPTING THE FINANCE OPTION THE PAYOFF AMOUNT WILL BE APPLIED TO THE LOAN AND THE REMAINING PAYERS WILL SPLIT THE MONTHLY PAYMENT.  UNTIL ALL PAYMENTS ARE COMPLETE.  

FOR PAYOFF OPTION THE MEMBER USING THE FINANCING OPTION WILL EXTRAPOLATE THE PAYOFF USING THE AMORTIZATION TABLE FROM THE MONTH STARTED TO THE CURRENT MONTH.  THE PRINCIPAL AMOUNT PAID OFF WILL DETERMINE THE INTEREST DUE TO SATISFY THE LOAN.  THIS WILL BE CALCULATED BY THE FINANCIAL OFFICER.  THE PROCESS WILL BE DETERMINED BY A SEPARATE AMORTIZATION UPON EACH MEMBER USING THE FINANCING OPTION.  WITH EACH PAYOFF A NEW AMORTIZATION SCHEDULE WILL BE CALCULATED TO DETERMINE THE INTEREST DUE AT EACH PAYOFF, HOWEVER THE ORIGINAL PRINCIPAL AMOUNT WILL REMAIN THE AS THE ORIGINAL CLUB PRICE. 

REMEMBER A MONTHLY PAYMENT MAY INCREASE DURING THE FINANCING OPTION DUE TO EARLY PAYOFF BY OTHER MEMBERS WHO ARE UTILIZING THE FINANCING OPTION.

BELOW IS AN EXAMPLE OF AN AMORTIZATION TABLE. 

*THE BYLAWS OF THE CLUB ARE INTACT AND SHOULD BE CONSIDERED BEFORE PAYMENT IS MADE.

** THE BUY IN PRICE MAY VARY BY CLUB VOTE, CHANGES ARE CONSIDERED DURING REVIEW PROCESS OF APPLICATION FOR MEMBERSHIP BY CURRENT CLUB MEMBERS.