AC Form 8050-98 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
Telephone No.

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

Zip

NAME OF SECURED PARTY/ASSIGNER:
ADDRESS OF SECURED PARTY/ASSIGNER:
Number and Street
P. O. Box
City
Telephone No.

Apt/Suite No.

Rural Route
State (or Foreign Province, State, Country)
Email Address

Zip

ASSIGNER/NAME OF ASSIGNEE:
ASSIGNED/ADDRESS OF ASSIGNEE:
Number and Street
P. O. Box
City
Telephone No.

Apt/Suite No.

Rural Route
State (or Foreign Province, State, Country)
Email Address

ABOVE SPACE FOR
FAA USE ONLY

Zip

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

Aircraft Manufacturer

Aircraft Model
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

Serial Number

PROPELLERS

Engine Manufacturer
Propeller Manufacturer
Propeller Manufacturer

Engine Model
Propeller Model
Propeller Model

Serial Number
Serial Number
Serial Number

SPARE PARTS LOCATIONS

Air Carrier’s Name

Address

City

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 described
rated takeoff shaft horsepower, 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

with interest thereon at the rate of

The principal and interest of said note is payable

successive month beginning with the
the

day of

installments of $
day of

,

AC Form 8050-98 (08/25) Supersedes Previous Edition

in the aggregate sum of

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

each on the
. The last payment of $

.

1

day of each
is due on

OMB Control Number 2120-0042
Expiration Date: 10/31/25

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

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

ACKNOWLEDGMENT:

NAME OF DEBTOR

(If required by applicable local law.)

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:

NAME OF SECURED PARTY/(ASSIGNOR)

(If required by applicable local law.)

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.

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

SEND, WITH APPROPRIATE FEE, TO:

This form may be filled out and submitted online at: CARES.FAA.gov

AC Form 8050-98 (08/25) Supersedes Previous Edition

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