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Oroville Sport Pilots

Newsletter

Number 2 May 18, 2008

Since the Oroville Sport Pilots LLC has been in existence now for nearly 3 months, this will be a short review of our status organizationwise and where we are in our airplane search.

Membership

At the initial organizational meeting, we acquired 5 immediate members, with a couple of probables. Since then we lost one (Richard) to change of plans and gained one (Olaf). So we are still looking for another 5 members to complete the first tier program of 10 members for the first plane.

Financial

We are still waiting for our Federal Tax ID number (EIN). We can't open a bank account until we have the EIN and we don't believe it would be wise to collect the remainder of the $2500 buy-in until we have the account for deposit and purchase usage. This also leaves us in limbo if we should find a suitable aircraft where we need to act in an expeditious manner. Dan assures that the SS-4 form was sent in to our corporate facilitator immediately in early March after we got the LLC registration paperwork. So the delay is unaccounted for. Hopefully, it arrives soon or we'll apply via the web where we can get it in 10 minutes and have it on the IRS database within 2 weeks.

Aircraft

So far, we haven't come up with any single aircraft available for sale at a suitable price that all involved have given a 'thumbs up' to. We have been searching both Barnstormers and eBay on a nearly daily basis and one or two possibilities usually show up weekly. Our search, based on our initial survey, looks at 2 place, tricycle geared, 4 stroke, preferably folding wing. Tractor preferred over pusher, but not exclusively. So this includes, Apollo Fox, Avid, EuroFox, Flightstar, Just Escapade, Kitfox, Rans, Sky Ranger, and X-Air among the wing folders. Non folders include the CGS Hawk, Challenger II, Earthstar Odyessy, Rand KR-2, Skyboy, T-bird, Titan II and the Zenith 601 HD and Zodiac 601XL. And, of course, we would like to find one that fits our initial budget of $25K.

Gone

There have been several that have come and gone. A new Sonex with an AeroVee engine for $23K in SoCal., the Ercoupe 415C for $18,377 in Oregon, the Ohio Jab Avid on eBay that max'd out at $18K with 'Reserve Not Met' has shown up on Barnstormers for $24K (this one was signed off several years ago and has been sitting in the builders garage unflown), the Avid MkIV Bandit in Sac. has apparently been pulled off the market (the seller never came up with the Bill of Sale for the kit), KR-2S w/ Soob EJ-22 in Santa Barbara for $9.5K (disappeared from Barnstormers - sold or withdrawn).

Available

Still currently available are the Oregon Flightstart IISC with HKS for $24K, the Avid Mk IV with NSI EA-81 Subaru with various degrees of damage for $9,500 in Grass Valley on Barnstormers (this ad has now been revised to say "Parting Out" - guess others besides us expressed doubt about the work required to repair), the X-Air Hawk (he calls it an H-Air) kit "70% finished" in Carson City, NV that is available for $9K without the engine, and a Titan II with Jab in Mesa, AZ, for $23K.

Here are the ads:

HAVE FUN AGAIN! • $24,000 • AVAILABLE FOR SALE • Flightstar IISC. 160 hrs TT. HKS 700E, 60 hp. BRS. Mylar sails. Always hangared. Only burn 2 gph at economy cruise (62 mph). Honest flyer. E-LSA. N-432PM. • Contact John M. Pongracz, Owner - located Independence, OR USA • Telephone: 503 510-5163 . 503 606-9767 • Posted March 29, 2008 • Show all Ads posted by this Advertiser • Recommend This Ad to a Friend • Email Advertiser • Save to Watchlist • Report This Ad • View Larger Pictures

AVID MK IV WITH NSI SUBARU • PARTS FOR SALE • Parting out Avid Mk IV with NSI Subaru with 90 hrs TT. New tricycle main and nose gear covered and painted. Garmin GPS, Mk II digital radio. VDO gauges, horizon. STOL wings. Nice trailer with winch included. Check the photos • PICASA PHOTOS • Contact Pierce Stewart, Owner - located Grass Valley, CA USA • Telephone: 530.277.0897 . 530.477.7465 • Posted May 8, 2008 • Show all Ads posted by this Advertiser • Recommend This Ad to a Friend • Email Advertiser • Save to Watchlist • Report This Ad

H-AIR LIGHT SPORT KIT 60% COMP • $14,000 • AVAILABLE FOR SALE OR TRADE • Very nice H-air light sport or experimental kit. All parts included to finish the ac. Approximately 60%complete. Easy to finish and fly. You can be in the air in one month. Includes new rotax 582 engine with prop. Will sell with or without the engine. 14000 for kit and engine or 9000 for just the kit. Save thousands and fly a nice aircraft that is easy and fun to fly. Will entertain offers for trade on a nice boat or car. Call Mike Reynolds at 775-315-9411 with your questions. • Contact Michael L. Reynolds - MOBILE AERO, Owner - located Carson City NV, NV USA • Telephone: 775-885-0434 • Posted April 11, 2008 • Show all Ads posted by this Advertiser • Recommend This Ad to a Friend • Email Advertiser • Save to Watchlist • Report This Ad • View Larger Pictures

TITAN TORNADO II-JAB • $23,900 • FOR SALE CHEAP • NO TIRE KICKERS. ELSA Certified. 175 Hrs TTAE, EIS, New IC-A6, GPS 195, Alt, ASI, VSI, Whiskey Compass, Elec. Flaps & Trim, Strobes, ELT, BRS, Mtl Cnpy Hinge. Burns 2.8 - 3.4 gal /hr. Acft flies and runs great. Prof Built. AZ acft; no corrosion. Email me for more pictures and video. • Contact Todd Bristol, Owner - located Mesa, AZ USA • Telephone: 480-755-4200 • Posted April 10, 2008 • Show all Ads posted by this Advertiser • Recommend This Ad to a Friend • Email Advertiser • Save to Watchlist • Report This Ad • View Larger Pictures

So we will keep looking and see what else might show up that will be acceptable.

Joe Cook
OSP LLC Sec./Tres.

Number 1

February 27, 2008

Oroville Sport Pilot is a Reality!

We are happy to report that our application for incorporation as Oroville Sport Pilots (OSP), a Limited Liability Corporation (LLC) has been accepted and filed by the State of Delaware and we have been notified by our corporate representative that the documents should be received in the mail by the end of this month.

Meeting Notice

We have received approval from EAA 1112/Oroville Foundation of Flight to hold our monthly OSP meeting immediately after their General Membership meeting each month. This will occur on the Wednesday night before the 3rd Saturday of each month (that Saturday being the regularly scheduled Fly-In Breakfast). The first meeting of the OSP group will take place on Wed., 3/12, at the OFOF Hut, 1112 Wes Barrett Lane (the entry to the Table Mountain Golf Course on the west side of the airport off of Hwy 162). The EAA/OFOF meeting convenes at 7 pm and everyone is welcome to attend. Normally, that meeting will be concluded within an hour.

We would expect to discuss such things as the initial membership share cost (=>$2500), the Operational Agreement, reservation procedures, aircraft search specs, etc.

Initial Buy In

I would suggest that for the purpose of membership status and voting initially, serious prospective members should be prepared to submit $100 in "earnest money" at the above organizational meeting. This will be applied to the share ("Unit Cost") cost when that amount has been agreed. If the agreed share cost exceeds $2500, and that is beyond the member's personal budget, the $100 will be refunded forthwith, at his request, and his membership rescinded.

OSP General Overview

Dan Cook, the originator and major domo of this LLC, has prepared a General Overview document to outline some of the ideas and procedures applicable to the OSP. It is presented below.

Joe Cook
ELSA N89EC

OROVILLE SPORT PILOTS, LLC

a Delaware Corporation Phone: 530-533-8303

1112 Wes Barrett Lane Oroville, California 95965

(West side of the Oroville Airport)

GENERAL OVERVIEW

The objective of the OROVILLE SPORT PILOTS, LLC (OSP) is to allow the maintenance of piloting proficiency for pilots from yesterday and pilots of today in “Light Sport Aircraft” utilizing new cost effective regulations and opportunities. Qualifying pilots for tomorrow may also take advantage of the cost effective procedures made possible by the use of fractionally owned “Light Sport Aircraft” operated in accordance with Federal Aviation Regulations Part 61. OROVILLE SPORT PILOTS, LLC shall lease maintenance and storage facilities from the Oroville Experimental Aircraft Assn. (EAA) Chapter 1112 and the Oroville Foundation of Flight (OFOF), thus providing revenue streams to both entities as well assuring shop facilities to OSP and thus contribute to the cost effective ownership and flying.

OROVILLE SPORT PILOTS, LLC (OSP) is a Limited Liability Corporation (LLC) officially formed and operated in accordance with the laws of the State of Delaware, USA.

1. OSP members will not be liable for the errors, actions or omissions of other OSP, LLC members.

2. OSP members will collective operate the day to day business functions of the OSP, LLC organization.
3. OSP members will fractionally own, jointly maintain and cooperatively operate one or more Light Sport Aircraft (LSA)
4. OSP members may acquire fractional ownership in OSP’s LSA per the Operational Agreement (OA).
5. OSP members may sell their fractional ownership in OSP’s LSA per the OA.
6. An OSP member's fractional ownership of OSP’s LSA may be listed as an estate asset.
7. OSP members may acquire fractional ownerships from OSP, LLC per the OA.
8. OSP members shall establish the fractional ownership “Unit Cost” per the OA.
9. OSP members may sell or transfer LSA fractional ownerships per the OA.
10. OSP members shall operate their fractionally owned LSA per the OA.
11. OSP members shall pay an annual “Fixed Cost” January 1 each year per the OA.
12. OSP members using the LSA shall pay an hourly “Usage Cost” each month per the OA.
13. OSP members shall pay fuel cost directly at the gas pump following each flight.
14. OSP members are encouraged to belong to EAA Chapter 1112 & the Oroville Foundation of Flight.
15. OSP members are encouraged to provide “Public Service Flights” in their OSP LSA.

Pilots from Yesterday, Pilots of Today and Pilots for Tomorrow, are all welcome

Come and join us.

Last update - 5/20/08

Oroville Sport Pilots - OFOF Hut - 1112 Les Barrett Lane, Oroville,CA 95965