Form 8050-98 Aircraft Security Agreement - Aircraft Registration Branch Page 2

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Paperwork Reduction Act: This information is collected to provide evidence of security interest. The information is used by the aircraft registry in the recording of security interests. We

estimate that it will take approximately 30 minutes to complete this form. The information is required to perfect a security interest in the described collateral. (This form or equivalent may be

used.). This information is public information, and no confidentiality is provided. An agency may not conduct or sponsor, and a person is not required to respond to a collection of information

unless it displays a currently valid OMB control number. The number associated with this collection is 2120-0042.

DEPARTMENT OF TRANSPORTATION

FEDERAL AVIATION ADMINISTRATION

CIVIL AVIATION REGISTRY

AIRCRAFT REGISTRATION BRANCH

P. O. Box 25504

Oklahoma City, Oklahoma 73125

AIRCRAFT SECURITY AGREEMENT

NAME & ADDRESS OF DEBTOR

NAME & ADDRESS OF SECURED PARTY/ASSIGNOR

ASSIGNED/NAME & ADDRESS OF ASSIGNEE

ABOVE SPACE

FOR FAA USE ONLY

Date: ____________________

A security interest is hereby granted to the secured party on the following described collateral:

AIRCRAFT (FAA registration number, manufacturer, model, and serial number):

NOTICE: ENGINES LESS THAN 750 HORSEPOWER AND PROPELLERS NOT CAPABLE OF ABSORBING 750 OR MORE

RATED SHAFT HORSEPOWER ARE NOT ELIGIBLE FOR RECORDING.

ENGINES (manufacturer, model, and serial number):

PROPELLERS (manufacturer, model, and serial number):

SPARE PARTS LOCATIONS (air carrier’s name, city, and state):

together with all equipment and accessories attached thereto or used in connection therewith, including engines of ________ horsepower, or the

equivalent, and propellers capable of absorbing _______ rated takeoff shaft horsepower, described above, all of which are included in the term aircraft

as used herein.

The above described aircraft is hereby mortgaged to the secured party for the purpose of securing in the order named:

FIRST: The payment of all indebtedness evidenced by and according to the terms of that certain promissory note, herein below described, and all

renewals and extensions thereof.

Note bearing date of ________ executed by the debtor and payable to the order of __________________________________ in the aggregate

sum of __________________ with interest thereon at the rate of _______ per centum per annum, from date, payable in installments as follows:

The principal and interest of said note is payable in _________ installments of ___________ each on the ____ day of each successive month

beginning with the __________ day of ____________ . The last payment of _____________ is due on the _______ day of ____________ .

SECOND: The prompt and faithful discharge and performance of each agreement of the debtor herein contained made with or for the benefit of the

secured party in connection with the indebtedness to secure which this instrument is executed, and the repayment of any sums expended or advanced

by the secured party for the maintenance or preservation of the property mortgaged hereby or in enforcing their rights hereunder. Said debtor hereby

declares and hereby warrants to the said secured party that they are the absolute owner of the legal and beneficial title to the said aircraft and in

possession thereof, and that the same is free and clear of all liens, encumbrances, and adverse claims whatsoever, except as follows: (If no liens other

than this mortgage, indicate “none”.)

AC Form 8050-98(11/98)(0052-00-036-4001)