Aircraft Security Agreement

OMB Control Number: 2120-0042
Expiration Date: 10/31/2025

PRA Public Burden Statement

A federal agency may not conduct or sponsor, and a person is not required to respond to, nor shall a person be subject to a penalty for
failure to comply with a collection of information subject to the requirements of the Paperwork Reduction Act unless that collection of
information displays a currently valid OMB Control Number. The OMB Control Number for this information collection is 2120-0042. Public
reporting for this collection of information is estimated to be approximately 45 minutes per response, including the time for reviewing
instructions, searching existing data sources, gathering and maintaining the data needed, completing and reviewing the collection
information. All responses to this collection of information are required for recordation of security interest, in aircraft, engines, propellers
and spare parts, in accordance with 14 CFR part 49. Send comments regarding this burden estimate or any other aspect of this
collection of information, including suggestions for reducing this burden to: Information Collection Clearance Officer, Federal Aviation
Administration, 10101 Hillwood Parkway, Fort Worth, TX 76177-1524.

U.S. Department of Transportation
Federal Aviation Administration
Civil Aviation Registry
Aircraft Registration Branch
P.O. Box 25504
Oklahoma City, OK 73125

AIRCRAFT SECURITY AGREEMENT
NAME OF DEBTOR:
ADDRESS OF DEBTOR:
Number and Street
P.O. Box
City

Apt/Suite No.
Rural Route
State (or Foreign Province, State, Country)

Telephone No.

Zip

Email Address:

NAME OF SECURED PARTY/ASSIGNER:
ADDRESS OF SECURED PARTY/ASSIGNER:
Number and Street
P.O. Box
City

Apt/Suite No.
Rural Route
State (or Foreign Province, State, Country)

Telephone No.

Zip

Email Address:

ASSIGNER/NAME OF ASSIGNEE:
ASSIGNED/ADDRESS OF ASSIGNEE:
Number and Street
P.O. Box
City

Apt/Suite No.
Rural Route
State (or Foreign Province, State, Country)

Telephone No.

Zip

Email Address:

ABOVE SPACE FOR
FAA USE ONLY

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

Aircraft Model

Aircraft Manufacturer

FAA Registration Number N

Serial Number

NOTICE:

ENGINES LESS THAN 550 HORSEPOWER AND PROPELLERS NOT CAPABLE OF ABSORBING 750 OR MORE
RATED SHAFT HORSEPOWER ARE NOT ELIGIBLE FOR RECORDING.

ENGINES

Engine Manufacturer

Engine Model

Engine Manufacturer

Engine Model

PROPELLERS

Serial Number
Serial Number

Propeller Manufacturer

Propeller Model

Serial Number

Propeller Manufacturer

Propeller Model

Serial Number

SPARE PARTS LOCATIONS

Air Carrier’s Name
City

State

together with all equipment and accessories attached thereto or used in connection therewith, including engines of
rated takeoff
horsepower, or the equivalent, and propellers capable of absorbing described
above, all of which are included in the term aircraft as used herein.

shaft

horsepower,

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

with interest thereon at the rate of

The principal and interest of said note is payable in
successive month beginning with the
the

day of

,

day of

per centum per annum, from date, payable in installments as follows:
installments of $
,

.

.

AC Form 8050-98 (09/24) Supersedes Previous Edition

in the aggregate sum of

1

The last payment of $

each on the

day of each
is due on

OMB Control Number: 2120-0042
Expiration Date: 10/31/2025

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”.)
It is the intention of the parties to deliver this instrument in the state of

.

Provided, however, that if the debtor, their heirs, administrators, successors, or assignees shall pay said note and the interest thereon in
accordance with the terms thereof and shall keep and perform all and singular the terms, covenants, and agreements in this security
agreement, then this security agreement shall be null and void.
Time is of the essence of this security agreement. It is hereby agreed that, if default be made in the payment of any part of the principal or
interest of the promissory note secured hereby at the time and in the manner therein specified, or if any breach be made of any obligation or
promise of the debtor herein contained or secured hereby, or if any or all of the property covered hereby be hereafter sold, leased,
transferred, mortgaged, or otherwise encumbered without the written consent of the secured party may deem himself insecure, then the
whole principal sum unpaid upon said promissory note, with the interest accrued thereon, or advanced under the terms of this security
agreement, or secured thereby, and the interest thereon shall immediately become due and payable at the option of the secured party.
Upon default, secured party may at once proceed to foreclose this mortgage in any manner provided by law, or the secured party may at its
option, and they are hereby empowered so to do, with or without foreclosure action, enter upon the premises where the said aircraft may be
and take possession thereof; and remove and sell and dispose of the same at public or private sale, and from the proceeds of such sale
retain all costs and charges incurred by secured party in the taking or sale of said aircraft, including any reasonable attorney’s fees incurred;
also all sums due him on said promissory note, under any provisions thereof, or advanced under the terms of this security, and interest
thereon, or due or owing to the said secured party, under any provisions of this security agreement, or secured hereby, with the interest
thereon, and any surplus of such proceeds remaining shall be paid to the debtor, or whoever may be lawfully entitled to receive the same. If
a deficiency occurs, the debtor agrees to pay such deficiency forthwith.
Said secured party or his agent may bid and purchase at any sale made under this mortgage or herein authorized, or at any sale made upon
foreclosure of this security agreement.
In witness whereof, the debtor has hereunto set
ACKNOWLEDGMENT:
(If required by applicable local law)

hand and seal on the day and year first above written.

NAME OF DEBTOR
SIGNATURE(S) (IN INK/DIGITAL)
TITLE

(If executed for co-ownership, all must sign.)

(If signed for a corporation, partnership, owner, or agent.)

ASSIGNMENT BY SECURED PARTY
For value received, the undersigned secured party does hereby sell, assign, and transfer all right, title, and interest in and to the foregoing
note and security agreement and the aircraft covered thereby, unto the assignee named on the face of this instrument at the address given,
and hereby authorizes the said assignee to do every act and thing necessary to collect and discharge the same. The undersigned secured
party warrants and agrees to defend the title of said aircraft hereby conveyed against all lawful claims and demands except the rights of the
maker. The undersigned secured party warrants that the secured party is the owner of a valid security interest in the said aircraft. (A
Guaranty Clause or any other provisions which the parties are desirous of making a part of this assignment should be included in the
following space.)
Dated this

.

day of

ACKNOWLEDGMENT:
(If required by applicable local law)

NAME OF SECURED PARTY (ASSIGNOR)
SIGNATURE(S) (IN INK/DIGITAL)
TITLE

(If executed for co-ownership, all must sign.)

(If signed for a corporation, partnership, owner, or agent.)

THIS FORM IS ONLY INTENDED TO BE A SUGGESTED FORM OF SECURITY AGREEMENT WHICH MEETS THE RECORDING
REQUIREMENTS OF TITLE 49, UNITED STATES CODE, AND THE REGULATIONS ISSUED THEREUNDER. IN ADDITION TO THESE
REQUIREMENTS, THE FORM OF SECURITY AGREEMENT SHOULD BE DRAFTED IN ACCORDANCE WITH THE PERTINENT PROVISIONS OF
LOCAL STATUTES AND OTHER APPLICABLE FEDERAL STATUTES. THIS FORM MAY BE REPRODUCED.

SEND, WITH APPROPRIATE FEE, TO:

AIRCRAFT REGISTRATION BRANCH
P.O. BOX 25504
OKLAHOMA CITY, OK 73125-0504

This form may be filled out and submitted online at:
AC Form 8050-98 (09/24) Supersedes Previous Edition

2

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