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ircraft engnes, have at east 550 rated take-off shaft horsepower or its equivalent. Title. Grantor warrants that Grantor is the lawful owner of the Collateral and holds good and me/Natal:4 title to the Collateral, free and Cear of all Encumbrances except the hen of this Agreement. Grantor Is. or concurren

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the Operative Agreements shall be deemed to be performance by Debtor for purposes of this Section 5), Debtor shall operate, maintain and repair the Collateral and retain actual control and possession thereof In accordance with the following provisions: 5a. Debtor shall have complete use of the Collateral

E ONLY REPORTING A CHANGE OF ADDRESS ATTENTION! Read the following statement before signing this application. This portion MUST bo completed. . A Ito cc etttentg Watt a a all panto, in INA appkaten may be °mat Icr purls:meet by fine ...Olt, Sea yds. Cogs. Ttle la. Sae. MI). CERTIFICATION IWE C

ngs necessary or desirable. 5. Operation, Maintenance and Repair. Subject to the Governing Documents, Debtor shall operate, maintain and repair the Collateral and retain actual control and possession thereof in accordance with the following provisions: 5a. Subject to the Goveming Documents, Debtor shall ha

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xes, insurance premiums, costs and expenses of whatever kind or nature incurred in connection with the creation, preservation and protection of the Collateral and the perfection and first priority of Agents security interest, security assignment and Lien therein. 2.2 General Obligations. Borrower shall: (

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ngs necessary or desirable. 5. Operation, Maintenance and Repair. Subject to the Governing Documents, Debtor shall operate, maintain and repair the Collateral and retain actual control and possession thereof in accordance with the following provisions: 5a. Subject to the Governing Documents, Debtor shall h

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ipment and parts installed in the Aircraft. 18. Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon the Note, or upon any of the other Related Documents. Grantor may withhold any such payment or may

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ngs necessary or desirable. 5. Operation, Maintenance and Repair. Subject to the Governing Documents, Debtor shall operate, maintain and repair the Collateral and retain actual control and possession thereof in accordance with the following provisions: 5a. Subject to the Governing Documents, Debtor shall h

d between Customer and Bank have been duly authorized by appropriate action of Customer's governing body; (c) Customer is the absolute owner of the Collateral and has full power and authority to grant a security interest in the Collateral to Bank; (d) the Collateral is free and clear from all liens, encumb

ODEL NO. SERIAL NO. FAA REG NO. 1999 Bell (Bell Helicopter) 407 53375 N405P1 MFG OF ENGINE(S) ENGINE MODEL NO(S) 550* HP gi Yes or 1750+ Ito drug 0 No ENGINE SERIAL NO(S) MFG OF PROPELLER(S) 750 or greater HP 0 yes 0 No PROP SERIAL NO(S) Rolls Royce 250C47B (250-C47) CAE-847407 (84