Get OK AC 8050-98 2021-2024

Dated this NAME OF SECURED PARTY ASSIGNOR 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 OKLAHOMA CITY OKLAHOMA 73125-0504 The information is required to register and prove ownership of an aircraft. 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 NAME OF SECURED PARTY ASSIGNOR 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. In witness whereof the debtor has hereunto set hand and seal on the day and year first above ACKNOWLEDGMENT If required by applicable local law NAME OF DEBTOR SIGNATURE S IN INK If executed for co-ownership all must sign TITLE 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. 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. 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 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 ACKNOWLEDGMENT If required by applicable local law NAME OF DEBTOR SIGNATURE S IN INK If executed for co-ownership all must sign TITLE 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. SW Washington DC 20591 attn Information Collection Clearance Officer AES-200. 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 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 550 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 sum 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 month beginning with the AC 8050-98 01/12 day of in the aggregate per centum per annum from date payable in installments as follows installments of. O. Box 25504 Oklahoma City Oklahoma 73125 AIRCRAFT SECURITY AGREEMENT NAME ADDRESS OF DEBTOR 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 550 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 sum 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 month beginning with the AC 8050-98 01/12 day of in the aggregate per centum per annum from date payable in installments as follows installments of. The last payment of each on is due on the day of each successive. 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.