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1. Purpose:

Lake Elmo Aero offers aircraft rental services to certified pilots and students receiving training. In the event of an accident or incident involving a rented aircraft, the Renter is responsible for a $10,000 insurance deductible. This Agreement allows the Renter to participate in the Insurance Deductible Waiver Program ("Program"), which waives the Renter’s responsibility for paying the deductible after an incident or accident occurs in exchange for a monthly fee.

2. Terms of Coverage:

By enrolling in the Program, the Renter agrees to pay a non-refundable fee of $15 per month due on the first of each month. In return, Lake Elmo Aero agrees to waive the Renter’s obligation to pay the $10,000 insurance deductible in the event of an accident or incident occurring while operating a rented aircraft, subject to the conditions outlined in this Agreement. The Company reserves the right to alter the monthly fee at any time for whatever reason.

3. Conditions and Exclusions:

The Insurance Deductible Waiver applies only under the following conditions: The Renter must comply with all FAA regulations and all Lake Elmo Aero policies.

The incident/accident must occur while the aircraft is being used for lawful and approved purposes under Lake Elmo Aero’s rental agreement.

The Renter must not operate the aircraft under the influence of drugs or alcohol.

The waiver does not apply if the incident results from gross negligence, willful misconduct, or failure to adhere to standard operating procedures.

The waiver does not cover any personal injury whatsoever of renter or passengers, third-party liability, or damages beyond the $10,000 deductible amount.

4. Enrollment and Payment

Enrollment is required for Renters enrolled in a flight training program/course at Lake Elmo Aero.

Enrollment in the Program is effective upon receipt of the Renter’s signed agreement.

Payments are due on a recurring monthly basis via an automatic credit card payment set up in Flight Schedule Pro. Non-payment will result in revocation of all flight and training privileges. The waiver remains in effect as long as the Renter’s payments are up to date and they remain in good standing with Lake Elmo Aero.

5. Cancellation and Termination

The Renter may cancel their participation in the Program at any time by completing the cancellation form and returning it to Lake Elmo Aero.

Cancellation form will be emailed upon request. No refunds will be issued for partial months or any months where the Renter is not flying. Termination of this agreement will take place in the following month after final payment is received.

Lake Elmo Aero reserves the right to terminate the Renter’s participation if they violate any terms of this Agreement or the general rental policies of Lake Elmo Aero at any time for any reason whatsoever.

Termination of participation immediately revokes any flight privilege, unless proper approved renters insurance is provided and on file.

6. Acknowledgment and Agreement

By signing below, the Renter acknowledges that they have read, understand, and agrees to the terms and conditions of this Insurance Deductible Waiver Agreement. The Renter understands that this waiver only applies to the $10,000 deductible and does not replace any other legal or financial obligations they may have. The renter also understands that this program is required for all students/pilots enrolled in any flight training programs at Lake Elmo Aero, unless proper approved renters insurance is provided (for aircraft renters only).

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March 31, 2025 12:04 pm CDT

Lake Elmo Aero Insurance Deductible Waiver Agreement Program Uploaded by Lake Elmo Aero - [email protected] IP 64.223.196.222