TERMS AND CONDITIONS

1. Stevens hereby agrees to provide parts, labor and other goods and/or services ("Services") as may be requested by Customer for the repair, maintenance or other service of Customer's aircraft up to the credit ceiling approved, and Customer in consideration of such Services, agrees to pay Stevens for the same in accordance with the terms and conditions set forth herein. Stevens, at its sole discretion, may extend credit for Services beyond the specified credit ceiling provided that Customer executes any additional documents required by Stevens.
2. Customer understands and agrees that the persons listed on the Credit Application and Agreement ("the Credit Agreement") and all persons who may be authorized by such persons, as well as any person hired by Customer to operate Customer's aircraft shall be deemed to be Customer's agent for purposes of extension of credit hereunder.
3. Customer agrees to pay Stevens at the address designated on its invoice within thirty days of the date of the invoice, the full amount of all obligations Incurred there under. Any invoices remaining unpaid after thirty days shall incurr a 1 1/2% per month late fee until paid in full. If any past due amount due hereunder is placed into the hands of an attorney or other third party, Customer agrees to pay, together with the amounts due, all costs of collection, including reasonable attorney's fees. Customer may also be charged storage fees pursuant to paragraph 5 hereof.
4. Subject to any applicable law, Stevens may, at any time, change any and all of the terms and conditions of this Credit Agreement. Any change shall be effective only upon mailing of notice thereof to Customer. Subject to federal and state law, any change may effect amounts owed on the date the change is effective as well as amounts for Services rendered after such change.
5. It is the policy of Stevens to notify customers promptly upon completion of requested work upon aircraft. Written notice, ordinarily in the form of an invoice for Services rendered, will be mailed to the Customer's address given herein within ten days of completion of work. Stevens may charge a storage fee of $25.00 per day beginning on the 11th day after the date of invoice or notice of completion which storage fee shall become an additional obligation of the Customer hereunder.
6. Pursuant to applicable state law, Stevens may exercise any appropriate lien available upon Customer's aircraft to secure payment for Services rendered at Customer's request. The lein means that Stevens has the right to retain possession of, and may ultimately have the right to resell, Customer's aircraft until all amounts due and owing hereunder are paid in full. Stevens reserves the right to exercise these rights if, in its sole opinion, the Customer's credit worthiness has become questionable or impaired. Stevens may also charge additional storage fees pursuant to paragraph 5 hereof, for aircraft left on the premises or retained for nonpayment. Stevens reserves the right to exercise any and all other remedies, whether in law or equity, available to it in enforcing or pursuing its rights under this Agreement.
7. This Credit Agreement is made in and shall be governed by and construed in accordance with the laws of the State of South Carolina. Customer expressly submits and consents to the jurisdiction and venue of state and federal courts of the State of South Carolina and agrees that such courts shall have sole and exclusive jurisdiction in any case or controversy arising hereunder or by reason hereof.
8. Customer acknowledges that this Credit Agreement and the terms and conditions contained herein only concern Steven's extension of credit to Customer and the terms of payment thereof. By extending credit hereunder, Stevens makes no representations or warranties concerning any Services to be provided by Stevens, but instead, any warranties or limitations thereof shall be governed by the terms of any Work Authorization completed at the time Customer requests Services to be performed.
9. If requested to do so in writing by Customer and agreed to in writing by Stevens and a particular third party, Stevens shall perform work for such additional third party under the condition that the third party will be primarily liable thereon and the Customer will be secondarily liable thereon.
10. Unless expressly stated in writing by Stevens at the request of the Customer, no Services perfomed by Stevens on any aircraft, no statement, written or oral, and no action on the part of any officer, employee or agent of Stevens shall be taken as a representation or certification that any aircraft is airworthy.
11. If any provision the this Credit Agreement shall be deemed unenforceable by a court, then said provision shall be stricken from this contract, but the remainder of this Agreement shall remain enforceable.
12. Failure of Stevens to insist upon strict compliance by the Customer with any of the provisions of this Credit Agreement or with any of their obligations hereunder shall not constitute a waiver of such conditions or obligations in the future or a waiver of any other condition or obligation hereunder.
13. The Credit Agreement supersedes any and all previous credit agreements between the parties hereto and contains the full credit  agreement of the parties hereto.
14. Arbitration. Customer agrees that any and all claims and disputes which may arise in connection with the Service and this agreement shall be decided by arbitration in accordance with the South Carolina Uniform Arbitration Act, as amended from time to time, (the Act"), except as otherwise provided herein or otherwise mutually agreed to by the parties in writing. This agreement to arbitrate shall be specifically enforceable thereunder. The award rendered by the arbitrators shall be final and binding on the parties. Nothing contained in this requirement for arbitration shall preclude Stevens from filing and perfecting a mechanic's lein in accordance with the laws then in effect.

All arbitration hearings shall be held at a place designated by the arbitrators in the County of Greenville, State of South Carolina.

Customer agrees that any arbitration hearings demanded hereunder shall be heard by: three (3) arbitrators if the claim involves $50,000 or more, such arbitrators to be selected in accordance with the Act; or one (1) arbitrator if the claim involves less than $50,000, such arbitrator to be mutually selected by the Customer and Stevens, or in the event Customer and Stevens cannot agree on one arbitrator, three (3) arbitrators selected in accordance with the Act. In each case, however, each arbitrator shall be between the age of thirty (30) and sixty-five (65) years and have (1) a FAA Mechanic's License with Airframe and Powerplant ratings, (2) a FAA Inspection Authorization, (3) no less than seven (7) years experience in the General Aviation aircraft service and maintenance industry, and (4) familiarity with the prevailing hourly rates for the servicing of General Aviation aircraft in the united States.

The provisions governing discovery under the Federal rules of civil Procedure, as amended, shall apply to any arbitration proceeding. The parties agree to cooperate with one another by furnishing, within fifteen (15) days after receiving a request for production of documents, subject to limitations on the availablility of production facilitiy, any business records, correspondence and other documents reasonably related to the subject matter of the arbitration which are not the proper subject of privilege or protection under the Federal Rules of Civil Procedure. Duplication costs shall be borne by the party requesting the documents.

Demand for arbitration must be made in wirting to the other party. In no event shall arbitration or other legal recourse be avbailable to either party based on any claim that would be barred by any statute of limitations of the State of South Carolina.