This Deductible Waiver Agreement (“Agreement”) is made between Lake Elmo Aero LLC, located at 3275 Manning Ave N Lake Elmo, Minnesota 55042 (“Company”), and the undersigned pilot/student (“Renter”).
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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I, (PARTICIPANT MENTIONED ABOVE) voluntarily desire to take an airplane (collectively, “Aircraft”) ride, pilot an Aircraft, rent an Aircraft, and/or train to pilot an Aircraft (collectively, the “Activity”), as well as to participate in the associated activities including, but not limited to, boarding, deplaning and/or walking on the runway and/or around the Aircraft, etc. (the “Associated Activities”), with LAKE ELMO AERO, LLC (collectively, the “Company”). Such activities may result in bodily injury, death, and property damage. I understand and acknowledge that engaging in any of the above activities are purely voluntary and I have made the decision to participate of my own free will. I also understand and acknowledge that, but for my voluntary execution of this Release of Liability (“Release”), the Company would not allow me to be in or otherwise near any Aircraft or participate in any Activity or the Associated Activities.
1. RELEASE AND COVENANT NOT TO SUE. I, on behalf of myself, my heirs, successors, assigns, agents, trusts, beneficiaries, executors, administrators, guardians, and legal representatives (individually or in any group; collectively, “Releasor”), hereby exempt, release, acquit, forever discharge, and hold harmless the Company, their respective officers, directors, members, administrators, trusts, managers, agents, representatives, servants, employees, successors, and/or assigns (individually or in any group, “Affiliates” and collectively with the Company, the “Releasees”), whether acting on behalf of the Company, or individually, from any and all liability, claims, losses, payments, harm, damages, costs, demands, claims and expenses of every nature whatsoever (collectively, “Damages”), whether in contract or in tort or under any other legal theory, arising out of my participation in the Activity and/or any Associated Activities. Releasor further agrees not to make any claim against, sue, or attach the property of anyone or more Releasees for any bodily injury, death, loss, or damage to personal property, or other damages, including those resulting in whole or in part from the negligence of the Releasees or other acts or omissions of the Releasees resulting from my participation in any Activity and/or Associated Activities.
2. ASSUMPTION OF RISK. I am not required to participate in the Activity or any Associated Activities. I freely and voluntarily choose to assume all of the risks inherent in the Activity and the Associated Activities, including, but not limited to, risks of negligent conduct of others, equipment or aircraft malfunction, improper or negligent operation of Aircraft, including those risks resulting in whole or in part from the Releasees’ own negligence or unintentional acts, but excluding gross negligence or willful misconduct.
3. INDEMNITY AGAINST CLAIMS. Releasor agrees to indemnify, defend and hold harmless the Releasees against any and all losses, judgments, or damages, arising out of any claims, demands actions, causes of action, and/or proceedings of every nature whatsoever (collectively, “Claims”), including but not limited to attorney and legal fees at trial and appellate levels, which may be presented or initiated by any person or entity, arising out of my participation in any activity and/or Associated Activities, and/or concerning the enforcement of or legal challenge to this Release.
4. LEGAL. This Release is governed under Minnesota law, without regard to conflict of law principles. The exclusive venue for any action arising hereunder shall be in the state and federal courts located in Washington County, Minnesota, and the parties hereby consent to the jurisdiction of such courts. In any action relating to this Release, Releasor hereby WAIVES ANY RIGHT TO A JURY TRIAL.
