EFTA00186677

# BILL OF SALE FOR AIRCRAFT

## KNOW ALL MEN BY THESE PRESENTS that:

REAL ESTATE EXCHANGE, INC., an Oregon corporation ("Seller"), having its address c/o Investment Property Exchange Services, Inc., 900 SW Fifth Avenue Mezzanine Level, Portland OR 97204, Attention: President ("Seller"), in consideration of Ten Dollars and other good and valuable consideration, receipt of which is hereby acknowledged, does hereby grant, bargain, sell and assign to JEGE, INC. (Buyer), a Delaware corporation, its successors and assigns, the following used Aircraft and installed used engines:

<table border="1"><tr><td>MANUFACTURER</td><td>MODEL OF AIRCRAFT</td><td>U.S.REGISTRATION NUMBER</td><td>MANUFACTURER&#x27;S SERIAL NUMBER</td></tr><tr><td>Boeing</td><td>727-31</td><td>N505LS</td><td>20115</td></tr><tr><td>Engine Particulars:</td><td>Pratt&amp;Whitney</td><td></td><td></td></tr><tr><td></td><td>Position</td><td>Model</td><td>Serial Number</td></tr><tr><td></td><td>1</td><td>JT8D-219</td><td>P726121</td></tr><tr><td></td><td>2</td><td>JT8D-7B</td><td>P654373</td></tr><tr><td></td><td>3</td><td>JT8D-219</td><td>P726122</td></tr></table>

Together with all equipment, components, spare parts and accessories installed thereon and used in connection therewith.

TO HAVE AND TO HOLD said Aircraft unto the Buyer, its successors and assigns, for its and their own use forever.

The Seller hereby warrants that it is the lawful owner of said Aircraft and installed engines; that its title to said Aircraft and installed engines is free and clear of all liens, leases, mortgage, security interests, claims, charges and encumbrances whatsoever; that the Seller shall defend title to said Aircraft against the claims of any person, firm or corporation whomsoever other than claims relating to or arising out of the acts or omissions of Buyer, and this Bill of Sale is made and delivered pursuant to the provisions of that certain Aircraft Purchase Agreement between the Seller and Buyer dated January 5; 2001, and that the warranties and representations of Seller set forth therein are true and correct as though made on and as of the date hereof.

IN WITNESS WHEREOF, Real Estate Exchange, Inc. has caused this instrument to be executed and its seal affixed thereto for the purpose hereinabove shown by its duly authorized officer this 19 day of January, 2001.

REAL ESTATE EXCHANGE, INC.,

By: Inja J. Bu4lu

Title Vice President