0 re3 I A Insured Aircraft Title Service, Inc. May 1, 2007 WHEN REGISTERED RETURN TO CENTRAL RECORDS . PON A NUMBER MANGE FAA Aircraft Registry Support Section To Whom It May Concern: Please assign N493LX to the following aircraft: N793TA Raytheon Aircraft Company 400A S/N RK-244 9931x stell 793.14 18 JUN 18 2007 On behalf of our customer: lions LLC Richmond Heights, OH 44143 The $10.00 fee has previously been paid. If you have any questions, please contact the undersigned at 681-6663. Thank you, Serving the Aviation Industry for over 40 years EFTA00012711

FILED WITH FAA &IFCRAFT RECISTRATION BR 2007 MY 1 fill 9 OKLAHOMA CITY OKLAHOMA • • EFTA00012712

FORM APPROVED OMB NO. 2120-0042 • 0 t e ( „ • Do Not Write In This Block FOR FAA USE ONLY UNITED STATES OF AMERICA MON MININIMINN OF SALE al OMEN N TIMONIUM MUM AIRCRAFT BILL FOR AND IN CONSIDERATION OF $1.00 ovc THE UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND BENEFICIAL TITLE OF THE AIRCRAFT DES- CRIBED AS FOLLOWS: . UNITED STATES REGISTRATION NUMBER N793TA AIRCRAFT MANUFACTURER & MODEL RAYTHEON AIRCRAFT COMPANY 400A AIRCRAFT SERIAL NO. RK-244 DOES THIS 6TH DAY OF DEC., 2007 HEREBY SELL, GRANT, TRANSFER AND DELIVER ALL RIGHTS, TITLE, AND INTERESTS IN AND TO SUCH AIRCRAFT UNTO: CZ ILI < CO I ° re D Q. NAME AND ADDRESS (IF INDIVIDUAL (S). GIVE LAST NAME, FIRST NAME, AND MIDDLE INITIAL.) FLIGHT OPTIONS LLC 6.25% OF 100% ., RICHMOND HTS OH 44143 073461314028 55.00 12J1212007 DEALER CERTIFICATE NUMBER AND TO ITS EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF. IN TESTIMONY WHEREOF I HAVE SET MY HAND AND SEAL THIS 6TH OF DEC., 2007. SELLER NAME (S) OF SELLER (TYPED OR PRINTED) SIGNATURE (S) (IN INK) (IF EXECUTED FOR CO-OWNERSHIP. ALL MUST TITLE (TYPED OR PRINTED) BUDCO HOLDINGS, LLC CHIEF FINANCIAL OFFICER OF FLIGHT OPTIONS, LLC ACTING AS ATTORNEY- IN-FACT FOR BUDCO HOLDINGS, LLC ACKNOWLEDGEMENT (NOT REQUIRED FOR PURPOSES OF FAA RECORDING: HOWEVER, MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.) ORIGINAL: TO FAA AC Form 8050-2 (9/92) (NSN 0052-00-629-0003) Supersedes Previous Edition EFTA00012713

FILED WITH FAA AIRCRAFT • '07 DEC 12 Pf9 12 12 OKLAHUr.A CITY OKLAHOMA • • EFTA00012714

O FORM APPROCED OMB No. 21209042 UNITED STATES OF AMERICA DEPARTMENT OF TRANSPORTATION FIMERAL AVIATION Misailiewisumoissz NoistossEY AERONAUTICAL COTTEN AIRCRAFT REGISTRATION APPLICATION IT1 - ' CERT. ISSUE DATE° UNITED STATES REGISTRATION NUMBER N 793TA AIRCRAFT MANUFACTURER 8 MODEL Raytheon Aircraft Company 400A AIRCRAFT SERIAL No. RX-244 FOR FAA USE ONLY TYPE OF REGISTRATION (Check one box) 0 1. Individual 0 2. Partnership 0 3. Corporation K4. Co-owner 0 5. Gov't. 0 B. C rtn-C `bzen orporanon NAME OF APPLICANT (Person(s) shown on evidence of ownership II irsOlvkket give last name, fIrst'name, and middle initial.) 12.) Flight Options, LLC 28.125% of 100% 4110@ae Attachment Ciik:tecic la( (WO7) TELEPHONE NUMBER: ( ) ADDRESS (Permanent mailing address for FT •arO' 1 P.O. L is used. physical address must also be shown.) Number and street Rural Route: P.O. Box: CITY Richmond Heights STATE OH ZIP CODE 44143 0 CHECK HERE IF YOU ARE ONLY REPORTING A CHANGE OF ADDRESS ATTENTION! Read the following statement before signing this application. This portion MUST be completed- A false or ckshonost answer to any question in this application may be grounds for.Puilishment by fine and I or imprisonment (U.S. Code. Title 18, Sec. 1001). CERTIFICATION ill IAN'E CERTIFY: (1) That the above aircraft is owned by the undersigned applicant, who Is a citizen (including corporations) of the United States. (For voting Mist, give name of trustee: ) or' CHECK ONE AS APPROPRIATE: a. 0 A resident alien, with alien registration (Form 1.151 or Form 1-551) No. b. 0 Anon-citizen corporation organized and doing business under the taws or (state) and said aircraft Is based and primarily used in the United States. Records or flight hours are available for inspection at (2) That the aircraft is not registered under the laws of any foreign country: and (3) That legal evidence of ownership is attached or has been filed with the Federal Aviation Administration. NOTE: If executed for co-ownership all applicants must sign. Use reverse side if necessary. TYPE OR PRINT NAME BELOW SIGNATURE EACH PART OF THIS APPLICATION MUST BF SIGNED IN INK. TITLE Chief Financial OfticerogrE of Flight Options, LLC i lta_to-1 TITLE thD-- DATE SIGNATURE TITLE DATE NOTE Pending receipt of the Certificate of Aircraft Registration, the aircraft may be operated for a period not in excess of 90 days. during which lime the PINK copy of thiS LipptiCatiOn meal be carried Si the aircraft. O co co 0 C 0 0) O O co AC Form 8050-1 (5/03) (0052-00-628.9007) EFTA00012715

FILED VJITH FAA AIRCRAFT :RECtSTRATICoo ' 1 '07 DEC 12 P19 12 12 OKLAHOMA CITY OKLAHOMA S EFTA00012716

Signatures: Name of Applicant: ATTACHMENT TO AIRCRAFT. REGISTRATION a awn APPLICATION Reg #: N793TA Model: Raytheon Aircraft Company 400A S/N#: RK-244 Owning an undivided Interest of: Address: 1.) 12.50% of 100% Shown on Original form hereto 2.) 6.25% of 100% Shown on Original form hereto 3.) 6.25% of 100% Shown on Original form hereto 4.) 3.125% of 100% Shown on Original form hereto 5.) 6.25% of 100% Shown on Original form hereto 6.) 6.25% of 100% Shown on Original form hereto 12.50% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto Title: Chief Financial Officer of Flight Options, LLC Acting as Attorney-in-Fact for #1,2,3,4,5,6,7,8,9.10,11 Date: By signing above, the applicant agrees and stipulates (I) to the terms. conditions and certification of the AC Form 8050-1 Aircraft Registration Application, to which this page is attached (the -Application-), (II) that all of the information set forth on the Application is true and coned as of this date, and (III) the Application may be executed by the codvmers by executing separate counterpart signature pages. each of which when so executed and deli-vele., shall be an original, but all such counterparts shall together constitute but one and the same application et Mt (.3 EFTA00012717

'9LED r AIRCRAFT REGIs no. • '07 DEC 12 PEI 12 12 OKLA:Li:A CITY OKLAHOMA EFTA00012718

C1.1 00036317 CERTIFIED COPY TO BE RECORDED BY FAA FAA RELEASE Dated as of November1O,/uutVE, YANCE RECORDED Raytheon Aircraft Credit Corporation hereby (i) releasehfigwith9clertmaithoncumbrances described and defined on Exhibit A attached hereto, all dtalYs ittit,lifle Arid intera in and to any and all collateral described in and subject to the EncumbranieE tpsitclinkikplgot limited to any aircraft, engines, propellers, lease agreements, spare parts (at Na§vaisilmityppliances (at all locations)) and (ii) confirms that the Encumbrances and any lens and security interests created thereby are hereby terminated. [The remainder of this page is intentionally left blank] SEE RECORDED CONVEYANCE NUMBER r er- 0-40384, DOC ID C.-3V) PAGE A/72300147.2 EFTA00012719

FILED WITH (:PITT '07 DEC 9 FM 11 36 (;;;L:....•;,.. :ATV OKLAHOMA EFTA00012720

/ This FAA Release was executed as of the date noted above. A/72300147 2 EFTA00012721

_ i EFTA00012722

Y. EXHIBIT A ENCUMBRANCES (collectively the "Encumbrances") 1. Supplemental Aircraft Inventory Security Agreement dated as of June 13, 2003 between Raytheon Aircraft Credit Corporation ("RACC"), as secured party, and Flight Options, LLC ("FOLLC"), as debtor (with the Amended and Restated Aircraft Dealer Floor Plan Financing and Security Agreement, dated as of June 12, 2003 between RACC and FOLLC, attached thereto), recorded by the FAA on July 17, 2003, as Conveyance Number SI22733, which was supplemented by the following supplements: • Supplemental Aircraft Inventory Security Agreement dated October 27, 2003 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 1, 2003 and assigned Conveyance No. QQ028098 • Supplemental Aircraft Inventory Security Agreement dated December 18, 2003 between RACC, as secured party, and FOLLC, as debtor; which was recorded by the FAA on March 29, 2004 and assigned Conveyance No. R064367 • Supplemental Aircraft Inventory Security Agreement dated March 12, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on April 30, 2004 and assigned Conveyance No. E003894 • Supplemental Aircraft Inventory Security Agreement dated April 8, 2004 between RACC, as secured party, and FOLIC, as debtor, which was recorded by the FAA on May 5, 2004 and assigned Conveyance No. E003915 • Supplemental Aircraft Inventory Security Agreement dated May 6, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 23, 2004 and assigned Conveyance No. T075758 • Supplemental Aircraft Inventory Security Agreement dated July I, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on December 1, 2005 and assigned Conveyance No. VV022039 • Supplemental Aircraft Inventory Security Agreement dated June 10, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 2, 2004 and assigned Conveyance No. TT019008 • Supplemental Aircraft Inventory Security Agreement dated July 30, 2004 between RACC, as secured party, and FOLIC, as debtor, which was recorded by the FAA on September 2, 2004 and assigned Conveyance No. IT019346 • Supplemental Aircraft Inventory Security Agreement dated May 27, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on February 4, 2005 and assigned Conveyance No. TT020384 A/72300147.2 EFTA00012723

. . EFTA00012724

• Supplemental Aircraft Inventory Security Agreement dated December 24, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on March 3, 2005 and assigned Conveyance No. HH039232 • Supplemental Aircraft Inventory Security Agreement dated September 9, 2004 between RACC, as secured party, and FOLIC, as debtor, which was recorded by the FAA on April 13, 2005 and assigned Conveyance No. YY039919 2. Aircraft Inventory Security Agreement dated as of June 21, 2005 between Flight Options, LLC and Raytheon Aircraft Credit Corporation, which was recorded by the FAA on July 11, 2005 and assigned Conveyance No. X149575 3. Aircraft Inventory Security Agreement dated as of September 7, 2005 between Flight Options, LLC and Raytheon Aircraft Credit Corporation, which was recorded by the FAA on October 12, 2005 and assigned Conveyance No. SS023475 A/72300147.2 EFTA00012725

i hereby certify that% hacaideyidnihkomarevititrueharedtah:dth anginal ecorreCt .thrP VI-I0HV1V0 t" ••• • • ';'`40 9C TT td9 ti 3311 /0. Hid/A arild EFTA00012726

*FORM APPROVED rot OMB No 2120-0342 UNITED STATES OF AMERICA DEPARTMENT OF TRANSPORTATION cent KA) CERT. I UE DATE Nr a jaHn till FO O Y FEDERAL swallow soswermsnoffsmics orifirreser sirsicifuurncaL • AIRCRAFT REGISTRATION APPLICATION RE 431UP STRA rT71 ED OSJ A ; E ULER N 793TA AIRCRAFT MANUFACTURER a MOOEL Raytheon Aircraft Company 400A 'unclips won. NO. RK-244 TYPE OF REGISTRATION (Check one box) 0 1. Individual O 2. Partnership C 3. Corporation ( ( 4. Co-owner C 5: Gov't. 0 B. ba- itizen NAME OF APPLICANT (Person(s) shown on evidence.of ownership. II indivklual. give last name, first name, and middle initial.) 13.) Flight Options, LLC 21.875% of 100% illi&e Attachment Azd-ca .BtCt(01) TELEPHONE NUMBER: ( ) ADDRESS (Permanent mailing address for fl tistegagi.O. nes used, physical address must also be shown.) Number and street: Rural Rothe: P.O. Box: CITY Richmond Heights STATE OH ZIP CODE 44143 YOU ARE ONLY the following statement portion MUST guesbon ,n this application CERTIFICATION by the undertugnod applicant, trustee: REPORTING A CHANGE before signing be completed. may be grounds for punishment this application. by fine corporations) OF ADDRESS and I or I mpriSairnrarir ) or: • CHECK HERE IF ATTENTION! Read This A tease or dishonest answer to any (U.S. Code. Two is, Sec. 1001). III VWE CERTIFY: (1) That the above aircraft Is owned of the United States. (For voting trust give name of CHECK ONE AS APPROPRIATE: who is a citizen (including business or Form 1-551) No. a. O A resident alien, with ellen registration (Form 1-1S1 b. 0 A non-citizen corporation organized and doing and said aircraft Is based end primarily used in insidection at under the laws of (state) the United States. Records or flight hours are wailatio tor Administration • side if necessary. (2) That the aircraft is not registered under the Sews of any foreign country: and (3) That legal evidence of ownership Is attached or has been filed with the Federal Aviation NOTE: If executed for co-ownership all applicants must sign. Use reverse TYPE OR PRINT NAME BELOW SIGNATURE g TITLE Vice President, Sec. g of Flight Options, LLC elf Gt a TITLE OAT 6 5 rn SIGNATURE TITLE DATE NOTE Pending receipt of the Certificate of Aircraft Registration. the aircraft may be operated tor a period not in excess of 90 days. during which time the PINK copy of this application must be carried in the aircraft. AC Form 8050-1 (5/03) (005240428-9007) EFTA00012727

4 fen 9 19A a • . -1 -A • • • • ••• AM. fa VW:OH:VINO Alto VP4O14V1NC IS TT WV .6 NW 1002 88 NOUVOISI0j8 .1.41/832.isV tt.d HilM•0311.4 , of EFTA00012728

Name of Applicant: Signatures: ATTACHMENT TO AIRCRAFTSEGISTRATION APPLICATION 44 0.1-eci 3/cilori Reg #: N793TA Model: Raytheon Aircraft Company 400A S/N#: RK-244 Owning an undivided Interest of: Address: 12.50% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 12.50% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto Title: Date: Vice President, Sec 8 CFO of Flight Options, LLC Acting as Attorney-in-Fact for #1,2,3,4,5,6.7,8,9,10,11,12 ro W la By Signing above. the applicant agrees and stipulates (I) to the terms. conditions and certification of the AC Form 8050-1 Aircraft Registration Application. to which this page is attached (the 'Application"). (II) that all of the information set forth on the Application is true and curtest as of this date. and (Ill) the Application may be executed by the co.owners by executing separate counterpart signature pages. each of which when so executed and defwered shall be an original, but all such counterparts shah together constitute but one and the same application. EFTA00012729

OLEO WITH FAA AIRCRAFT REGISTRATION BR 2007 MAR 9 Firl 11 51 OKLAHOMA.CITY OKLAHOMA • EFTA00012730

FORM APPROVED OMB No. 2120-0042 UNITED STATES OF AMERICA DEPARTMENT OF TRANSPORTATION FEDERAL sitnemON miamestnemoe-aseica cinder AanceutuniCAL canna AIRCRAFT REGISTRATION APPLICIVON ' i,.,.. L.') CERT. ISSUE GATE MI -1 ierVet —. S o t-'1 UNITED STATES REGISTRATION NUMBER N 793TA AIRCRAFT MANUFACTURER & MODEL Raytheon Aircraft Ccupany 400A AIRCRAFT SERIAL No. RK -244 FOR FAA USE ONLY TYPE OF REGISTRATION (Check ors box) • O I. Individual O 2. Partnership O S. Corporation X 4 . 4. Co-owner O S. Gov't. O 8. rtn'ettizen corp NAME OF APPLICANT (Person(s) shown on evklance of ownership tf indivklual, ghee last name. first. name. and middle initial.) 12.) Flight Options, LLC 28.125% of 100% ID CSee Attachment Ciet-frA, a 1510 - 1) TELEPHONE NUMBER: ( ) ADDRESS (Permanent mailing address for fl t t if P.O. ¢ used. physical P.O. Box: address must also be shown.) Number Rural Route: and street CITY Richmond Heights STATE OH ZIP CODE 44143 CHECK HERE IF YOU ARE ONLY ATTENTION! Read the following This portion MUST • REPORTING A CHANGE statement before signing be completed. may be grounds tor punishment OF ADDRESS this application. try fine and , or imprisonment corporations) ) or: • A false (U.S. 11110 (I) That of (For CHECK a. b. (2) That (3) That TYPE or dishonest t Y a , l . th application Code, Tale Itil Sec 1C01) - CERTIFICATION the; above aircraft is owned by the undersigned applicant. who is a onion (including the united States- voting trust give name Of trustee: ONE AS APPROPRIATE: 1.151 business or Form 1-551) No O A resident alien, with alien registration (Form 0 A non-citizen corporation organized and doing and said aircraft is based and primarity used in Inspection at under the laws of (state) the United States. Records or flight hours are available for Administration. side if necessary. the an raft Is not registered under the laws of any foreign country: and legal evidence of Ownership is attached or has been filed with the Federal Aviation NOTE: If °scouted for co-ownerahip all applicants must sign. Use reverse OR PRINT NAME BELOW SIGNATURE EACH PART OF THIS APPLICATION MUST BE SIGNED IN INK. TITLE Vice President, Sec. hgcePD of Flight Options, LLC f 14 Cr ./ • • ' TITLE ' DA 'sCi# la SIGNATURE TITLE DATE NOTE Pending receipt of the Certificate of Aircraft Registration, the aircraft may bo operated for a period not in excess of 90 days. during which time the PINK copy of this application must be carried in the aircraft. AC Form 8050-1 (5/03) (0352-00-828-9007) EFTA00012731

FILED WITH FAA MRCRAFT REGISTRATION .B-fl' 2007 MAR 5 Pr 1 ,38. OKLAHOMA CITY OKLAHOMA EFTA00012732

Name of Applicant: 1.) 2.) 3.) 4.) 5.) 6.) Signatures: ATTACHMENT TO AIRCRAFT REGISTRATION APPLICATION ditita 3/51bi Reg #: N793TA Model: Raytheon Aircraft Company 400A SiN#: RK-244 Owning an undivided Interest of: Address: 12.50% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 12.50% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto Title: Date: Vice President, Sec & CFO of Flight Options. LLC Acting as Attorney-in-Fact for #1,2.3.4.5.6.7.8.9.10.11 tz By signing above. the applicant agrees and stipulates (I) to the terms, conditions and certification of the AC Form 8050.1 Aircraft Registration Application, to which this page is attached (the "Application-1. (II) that all of the information sel forth on the Application is true and currect as of this date, and (Ill) the Application may be executed by the co-owners by executing separate counterpart signature pages, each of which when so executed and delivered shall be an original. but all such counterparts shall together constitute but one and the same application. EFTA00012733

ILO WITH FAA AIRCRAFT REGISTRATION BR EON MR 5 Prl 1 38 OKLAHOMA CITY ' OKLAHOMA • • EFTA00012734

fas ta • U.S. Departrnent of Transpodation Federal Aviation Administration IATS ATM. JENNIFER LUDWICH PD ROOM Dear Sirs: Flight Standards Service Aircraft Registration Branch, AFS•750 , Oklahoma 13125-0504 oil rife: WEB Address: NUMBER CHANGED TO CANGE LLEJ> DATE 04 ION 11200L April II, 2007 The FAA Aircraft Registry issued an AC Form 8050.64, Assignment of Special Registration Marks, on 793TA. This form authorized the use of special registration mark N493LX on Raytheon Aircraft Co, model 400A aircraft, serial number RK-244 N793TA. The authorization form was to have been signed and returned to this office within 5 days after the special registration number was painted on the aircraft. It has not yet been received. Clarification as to the status of the number change is needed so that the certificate of registration may be issued reflecting the correct registration number. Please furnish this clarification by checking the applicable block and signing below: The special registration mark HAS BEEN painted on the aircraft. The special registration mark HAS NOT BEEN painted on the aircraft but will be at a later date. Please extend authorization for use of the special number. Enclosed is a $10 fee required to reserve the number. The special registration mark WILL NOT BE USE Additional Requirements: Legal Instruments Examiner Aircraft Registration Branch •• . AFS•750-103- I (7/04) owner itlt m60, 4412flky7 Date 071201328548 $10.00 04/3012007 EFTA00012735

FILED WITH FAA AIRCRAFT REGISTRATION BR 2007 RPR 30 P1l 1 10 OKLAHOMA CITY OKLAHOMA EFTA00012736

Q u.S.Depertment ciTralswtotion ward maison Administration ASSIGNMENT OF SPECIAL REGISTRATION NUMBERS Special Registration Number N 493LX Aircraft Make and Model RAYTHEON AIRCRAFT COMPANY 400A Present Registration Number N 793TA Serial Number RK —244 7150010 . ICAO AIRCRAFT ADDRESS CODE Issue Date: JANUARY 30, 2007 FOR N493LX = 51416115 This is your authority to change the United States registra- tion number on the above described aircraft to the special SOUTHEASTERN MILLS INC registration number shown. Carry duplicate of this form in the aircraft together with the C/U FLIGHT OPTIONS LLC old registration certificate as interim authority to operate the RICHMOND HEIGHTS OH 44143-1453 aircraft pending receipt of revised certificate of registration. Obtain a revised certificate of airworthiness from your near- ," est Flight Standards District Office. INC ASCENT Il LLC The latest FAA Form 8130-6, Application ET—AL For Worthiness OCTOBER 01, 1999 The airworthiness classification and category: STO TRANSP INSTRUCTIONS: SIGN ANU RETURN THE ORIGINAL of this form to the Civil Aviation Registry, AFS-750, within 5 days after the special registration number is di placed on the aircraft. A revised certificate will then be issued. Ill, The authority to use the special number expires: JANUARY 301 2008 CERTIFICATION: I certify that the special registration number was placed on the RETURN FORM TO: aircraft described above: i. ., i : • . istry, AFS-750 Signature of Owner • . 'ma ity, Oklahoma 73125-0504 Title of Owner. Date Placed on Aircraft: AC Form 805044 (512005) Supersedes Previous Edition EFTA00012737

II II EFTA00012738

Insured Aircraft Title Service, Inc. DATE: -023-07 FEDERAL AVIATION ADMINISTRATION CENTRAL RECORDS DIVISION OKLAHOMA CITY, OK Gentlemen: Please reserve N "9311 793TA 18 JAN 3 0 2807 in NAME ONLY for: *********** ******* *•* Ic************** ************ ***** ****** * ********** ** Please reserve N 4 6131—K for assignment to the following aircraft: 4137-fri Pak/than eLloo)1 RK--?44 Current N# Make Model Which is (1) being purchased by: or (2) is registered to: )C Opfiorw, Ltc, Serial # Payment of the required $10 fee per number to reserve it for one year is attached. If the preferred N number is not available, please contact the undersigned for a selection of a new number. Please send the letter of confirmation or the 64 form to Insured Aircraft Title Service in the P.D. Room. Additional Information: N Number Consultant Serving the Aviation Industry for over 35 years EFTA00012739

' FILED WITH FAA AIRCRAFT RECISTRATION BR 2007 AN 23 API 9 25 ,.OKLAHOMA CITY • OKLAHOMA EFTA00012740

OM No O2 mo _ _ _ _R _ UNITED STATES OF AMERICA ...i iN U.S. BEPARIMBIT OF TRANSPORTATION MEAL AVIAN!' MIMMISIRMIN AIRCRAFT BILL OF SALE FOR AND IN CONSIDERATION OF $1.00 ovc THE CORVE.YANCE UNDERSIGNED OWNER(S) OF THE FULL LEGAL RE.ORDED AND BENEFICIAL TITLE OF THE AIRCRAFT DES- CRIBED AS FOLLOWS: • NI? RPR 3 RII 7 52 UNITED STATES REGISTRATION FEDERAL AVIATION NUMBER N 793TA _ADMINISTRATION AIRCRAFT MANUFACTURER & MODEL RAYTHEON AIRCRAFT COMPANY 400A AIRCRAFT SERIAL NO. RK-244 DOES THIS q TH DAY OF MAR., 2007 HEREBY SELL, GRANT, TRANSFER AND DELIVER ALL RIGHTS, TITLE, AND INTERESTS IN AND TO SUCH AIRCRAFT UNTO: Do Not Mlle In This Block FOR FAA USE ONLY NAME AND ADDRESS (IF INDIVIDUAL IS). GIVE LAST NAME. FIRST NAME. AND MIDDLE INITIAL.) BUDCO HOLDINGS, I,I,C 6.25% OF 100% 070681243592 RICHMOND HEIGHTS, OH 44143 $5.00 03/49/21)07 DEALER CERTIFICATE NUMBER AND TO ITS EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF. IN TESTIMONY WHEREOF I HAVE SET MY HAND AND SEAL THIS CP R DAY OF MAR., 2007. NAME (S) OF SELLER SIGNATURE (S) TITLE (TYPED OR PRINTED) R (TYPED OR PRINTED) IGN.) FLIGHT OPTIONS, LLC VICE PRESIDENT SECRETARY & CFO ACKNOWLEDGEMENT (NOT REQUIRED FOR PURPOSES OF FAA RECORDING: HOWEVER. MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.) ORIGINAL: TO FAA PURCHASER SELLER AC Form 8050-2 (9/92) (NSN 0052-00-629-0003) Supersedes Previous Edition EFTA00012741

FILED WITH FAA AIRCRAFT REGISTRATION BR NI MAR 9 FM 11 51 OKLAHOMA CITY OKLAHOMA EFTA00012742

FORM APPROVED OMB NO. 2120-0042 UNITED STATES OF AMERICA ILL IEMIIIMBIIMIIIIIMMIRMill FEDERAL AIRMEN ADMINISIBATION AIRCRAFT BILL OF SALE 5 1 3 1 0 3 06 ul al REOSADED 3 Ali 7 52 AViATIOW Do Not Wale In This Bloat FOR FAA USE ONLY FOR AND IN CONSIDERATION OF $1.00 ovc THE CONVEYANCE UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND BENEFICIAL TITLE OF THE AIRCRAFT DES- CRIBED AS FOLLOWS: . UNITED STATES 2001 AFR REGISTRATION NUMBER N793TA FEDERAL AIRCRAFT MANUFACTURER & MODEL ADAINISTRATtOti RAYTHEON AIRCRAFT COMPANY 400A AIRCRAFT SERIAL NO. RK-244 DOES THIS 28TH DAY OF FEB., 2007 HEREBY SELL, GRANT, TRANSFER AND DELIVER ALL RIGHTS, TITLE, AND INTERESTS IN AND TO SUCH AIRCRAFT UNTO: PURCHASER NAME AND ADDRESS (IF INDIVIDUAL (S), GIVE LAST NAME. FIRST NAME, AND MIDDLE INITIAL.) FLIGHT OPTIONS LLC 9.375%0F 100% RICHMOND HTS., OH 44143 070641340232 $5.00 03/05/2047 DEALER CERTIFICATE NUMBER AND TO ITS EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF. IN TESTIMONY WHEREOF I HAVE SET MY HAND AND SEAL THIS 281H OF FEB., 2007. SELLER NAME (S) OF SELLER (TYPED OR PRINTED) SIGNATURE (S) (IN INK) (IF EXECUTED FOR CO.OWNERSHIP. ALL MUST TITLE (TYPED OR PRINTED) KITTLES FLIGHT 01'S, VICE PRESIDENT. SECRETARY LLC & CFO OF FLIGHT OPTIONS, LLC ACTING AS ATTORNEY- IN-FACT FOR KITTLES FLIGHT OPS, LLC ACKNOWLEDGEMENT (NOT REQUIRED FOR PURPOSES OF FAA RECORDING: HOWEVER. MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.) ORIGINAL: TO FAA AC Form 8050-2 (9/92) (NSN 0052-00-629-0003) Supersedes Previous Edition EFTA00012743

FILED WITH FAA AIRCRAFT REGISTRATION BR 2001 PIRR S Pll 1 38 OKLAHOMA CITY OKLAHOMA EFTA00012744

FORM APPFtOVED7:11 OMB No. 2120-0042_ UNITED STATES OF AMERICA DEPARTMENT OF TRANSPORTATION r— t.:•l CERT. ISSUE DATE la NI HK 0CT 0 5 20051 . -• FEDERAL AVIATION Son NONRONEY AERONAUTICAL CENTER AIRCRAFT REGISTRATION APPLICATION • UNITED STATES REGISTRATION NUMBER 793TA AIRCRAFT MANUFACTURER a MODEL Raytheon Aircraft Company 400A AIRCRAFT SERIAL No. RK -244 FOR FAA USE ONLY TYPE OF REGISTRATION (Check one box) O 1. Individual O 2. Partnership O 3. Corporation Ad ( 4. Co-owner O 5. Gov't. O 8. Corporation NAME 0 TELEPHONE OF APPLICANT (Person(s) shown on evklenoe of ownership. It individual, give last name, first name, and middle in ad.) 13.) Flight Options, LLC 18.75% of 100% (S_ee Attachment CL,Ct-I-CAt CI li '.1(:)(0) NUMBER: ( ) ADDRESS Number Rural Route: (Permanent mailing address for hat Fll and .asst: i .Ors .O. tit's used. physical address must also be shown.) P.O. Box: CITY Richmond Heights STATE OH ZIP CODE 44143 O A tame (U.S. 4 . WYE (1) That of (For CHECK CHECK HERE IF YOU ARE ONLY REPORTING A CHANGE ATTENTION! Read the following statement before signing This portion MUST be completed. or dishonest answer to any question in this application may be grounds for punishment Code, Title 18. Sec. 1001). CERTIFICATION OF ADDRESS this application. try Pine and /Or Imprisonment corporations) ) or' CERTIFY: the above aircraft Is owned try the undersigned applicant. who is a citizen (including the United States. voting Duet gale nom* of trustee: ONE AS APPROPRIATE: 1-151 business or Form 1-551) No a. b. ... (2) That (3) That - U. O A resident alien. with alien registration (Fenn O Anon-citizen corporation Organized and doing and said aircraft is based and pnmarily used in inspection at under the taws of (slate) the United States. Records or flight hours are available for Administration. side if necessary. the aircraft Is not registered under the laws of legal evidence of ownership Is attached or has NOTE: If executed for co-ownership all any been applicants foreign country: and filed with the Federal Aviation must sign. Use reverse Assistant Secretary f ght Options, LLC DATE 91 140 4° 4H 3 DATE DATE NOTE Pending receipt of the Certificate of Aircraft Registration, the almraft may be operated for a period not in excess of 90 days. during which time the PINK copy of this application must be canted in the aircraft. AC Form 8050-1 (5/03) (0052-00-628-9007) EFTA00012745

FILED WITH FAA AIRCRAFT REGISTRATION BR 2006 SEP 12 PP1 1 23 OKLAHOMA CITY OKLAHOMA EFTA00012746

ATTACHMENT TO AIRCRAFT REGIST APPLICATION el I N o Reg #: N793TA 111 Model: Raytheon Aircraft Company 400A SIN#: RK-244 Name of Applicant: Owning an undivided Interest of: Address: 12.50% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 12.50% of 100% Shown on Original form hereto 9.375% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto 6.25% of 100% Shown on Original form hereto 3.125% of 100% Shown on Original form hereto Title: Date: Assistant Secretary of Flight Options, LLC Acting as Attorney-in-Fact for #1.2.3.4.5.6,7,8.9,10,11,12 By signing above, the applicant agrees and stipulates (I) to the terms, conditions and certification of the AC Form 8050-1 Airuaft Registration Application, to which this page is attached (the "Application"). (II) that all of the information set forth on the Application is true and curved as of this date. and (III) the Application may be executed by the co-owners by executing separate counterpart signature pages, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same application. EFTA00012747

FILED WITH FAA AIRCRAFT RECISTRATICH BR 2006 SEP 12 Pr] 1 23 OKLAHOMA CITY OKLAHOMA EFTA00012748

FORM APPROVED OMB NO. 2120-0042 UNITED STATES OF AMERICA H K 0 3 0 0 0 9 U. S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION AIRCRAFT BILL OF SALE FOR AND IN CONSIDERATION OF $1.00 ovc THE UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND BENEFICIAL TITLE OF THE AIRCRAFT DES- CRIBED AS FOLLOWS: UNITED STATES REGISTRATION NUMBER N793TA CONVEYANCE RECORDED 6 OCT 5 PM 1 56 FE 3ERAL AVIATION ADMINISTRATION AIRCRAFT MANUFACTURER & MODEL RAYTHEON AIRCRAFT COMPANY 400A AIRCRAFT SERIAL NO. RK-244 DOES THIS 29T" DAY OF AUG., 2006 HEREBY SELL, GRANT, TRANSFER AND DELIVER ALL RIGHTS, TITLE, AND INTERESTS IN AND TO SUCH AIRCRAFT UNTO: pe. CAI 0 Do Not Wnte In This Block FOR FM USE ONLY re w < ch I (-) cc m a NAME AND ADDRESS (IF INDIVIDUAL (S). GIVE LAST NAME. FIRST NAME. AND MIDDLE INITIAL.) FLIGHT OPTIONS LLC 6.25% OF 100% RICHMOND HTS., OH 44143 062551328203 $5.00 09/12/2000 DEALER CERTIFICATE NUMBER AND TO ITS EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF. IN TESTIMONY WHEREOF I HAVE SET MY HAND AND SEAL THIS 29TH OF AUG., 2006. W ILI -I -I Ill c° NAME (S) OF SELL: (TYPED OR PRINTED) TRUSTEES TITLE (TYPED OR PRINTED) ASSISTANT SECRETARY OF FLIGHT OPTIONS, 1.1C ACTING AS ATTORNEY- IN-FACT FOR ACKNOWLEDGEMENT (NOT REQUIRED FOR PURPOSES OF FM RECORDING: HOWEVER. MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.) ORIGINAL: TO FAA AC Form 8050-2 (9/92) (NSN 0052-00-629-0003) Supersedes Previous Edition EFTA00012749

FILED WITH FAA AIRCRAFT REGISTRATION BR 21i SEP 12 Pfl 1 23 OKLAHOMA CITY OKLAHOMA EFTA00012750

CC AUG 2 4 2006 MEMORANDUM TO THE FILE The copy of the release recorded as conveyance number CCO21266 on May 25, 2006 was imaged without the back page showing the certification as a true copy. Attached is a copy of the back page of micro number 1356, filed 4/20/2006, recorded 5/25/2006 as conveyance number CCO21266, which shows the certification as a true copy of the original release. EFTA00012751

I 4. EFTA00012752

P9/14FPS/0.-11 RapEaL14 T I S !•I 8R u! 6po ay) VA 6078 "el l% ftfc 1111111 30 OKLAHOMA CITY OKLAHOMA et EFTA00012753

L EFTA00012754

CC AUG 24 2006 MEMORANDUM TO THE FILE The copy of the release recorded as conveyance number CCO21257 on May 18, 2006 was imaged without the back page showing the certification as a true copy. Attached is a copy of the back page of micro number 1351, filed 4/20/2006, recorded 5/18/2006 as conveyance number CCO21257, which shows the certification as a true copy of the original release. EFTA00012755

g [ EFTA00012756

Alla Vi1011V13i0 (le I I ULI 02 licibli ICJIlti113103111 VVj HilAt 031-13 I hereby certify that I compared the fore- with the original d it is a true and correct EFTA00012757

EFTA00012758

RTIFIED COPY Re4tiRDED OWFAA CCO?1.266 FAA RELEASE .CONVEYAOCE RECORDED 1-"t•j''~rW 25- Raytheon Aircraft Credit 0:•.• tion 07 0'6 1,141e2u5rmfins,..„..., 1° 53 Segureq. party. 240440440).*• ,, .....FECERAI_Wpriltl! as ftichiiiit A attaat heitiill;:ii4; terms of ifir 44 ;Secuki Agreements alt of its right, title and interest in and tothe collate/Wide:scribed in the Security Agreements. Dittoihis ip34.(714, of: .• tto"..1k • .. Raytheon Aircraft Credit Corporation Mlle: President RtooRmteMaire$ . trim; V Voa,16/V, Doctor. 3 10 EFTA00012759

• EFTA00012760

Exhibit A Security Agreements Aircraft Inventory Security Agreement dated as of June 1, 2005 between Raytheon Aircraft Credit Corporation ("RACC"), as secured party, and Flight Options, LLC ("FOLLC"), as debtor, which was recorded by the FAA on June 29, 2005 as Conveyance No. DD025607, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated August 19, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 20, 2005 as VV021531; Aircraft Inventory Security Agreement dated as of June 8, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 29, 2005 as Conveyance No. J1003877, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated August 19, 2005. between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 21, 2005 as Conveyance No. VV021537; Aircraft Inventory Security Agreement dated as of June 10, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 21, 2005 as Conveyance No. VV021562, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated August 19, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 22, 2005 as Conveyance No. VV021563; Aircraft Inventory Security Agreement dated as of June 16, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 22, 2005 as Conveyance No. 2006424. as further amended by the Amendment to the Aircraft Inventory Security Agreement dated August 19. 2005. between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 20, 2005 as Conveyance No. VV021527; Aircraft Inventory Security Agreement dated as of June 17, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 26, 2005 as Conveyance No. MM028138; Aircraft Inventory Security Agreement dated as of June 24, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 21, 2005 as Conveyance No. HK027548; as further amended by the Amendment to Aircraft Inventory 'Security Agreement dated as of August 19, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 20, 2005 as Conveyance No..VV021528; Aircraft Inventory Security Agreement dated as of June 25. 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 22, 2005 as Conveyance No. E006796; Aircraft Inventory Security Agreement dated as of June 30, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 15, 2005 as Conveyance No. 6006516; as further amended by the Amendment to Aircraft Inventory Security Agreement 20640/ EFTA00012761

. EFTA00012762

dated as of August 19, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 8, 2005 as Conveyance No. VV021481; Aircraft Inventory Security Agreement dated as of June 30, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on January 12, 2006 as Conveyance No. VV022224; Aircraft Inventory Security Agreement dated as of July 7, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 19, 2005 as Conveyance No. E006332; Aircraft Inventory Security Agreement dated as of July 9, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on October 28, 2005 as Conveyance No. SS023538; Aircraft Inventory Security Agreement dated as of July 19, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on August II, 2005 as Conveyance No. 7.1306556; Aircraft Inventory Security Agreement dated as of July 19, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 29, 2005 as Conveyance No. PP029006; Aircraft Inventory Security Agreement dated as of July 23, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November I, 2005 as Conveyance No. VV021846; Aircraft Inventory Security Agreement dated as of July 27, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on October 14, 2005 as Conveyance No. F092733; Aircraft Inventory Security Agreement dated as of July 29, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 28, 2005 as Conveyance No. VV021986; Aircraft Inventory Security Agreement dated as of August 4, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 22, 2005 as Conveyance No. VV021575; Aircraft Inventory Security Agreement dated as of August 12, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 15, 2005 as Conveyance No. VV021520; Aircraft Inventory Security Agreement dated as of August 23, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on December 29, 2005 as Conveyance No. VV022131; 20640/ EFTA00012763

EFTA00012764

Ut In Aircraft Inventory Security Agreement dated as of September 2, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on January 3, 2006 as Conveyance No. VV022160; Aircraft Inventory Security Agreement dated as of September 4, 2005. between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 14, 2005 as Conveyance No. HH04O608; Aircraft Inventory Security Agreement dated as of September 14, 2005. between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 28.2105 as Conveyance No. VV021992; Aircraft Inventory Security Agreement dated as of September 23, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 18, 2005 as Conveyance No. VV021967; Aircraft Inventory Security Agreement dated as of September 26, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 29, 2005 as Conveyance No. VV022002; Aircraft Inventory Security Agreement dated as of September 29, 2005. between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 8, 2005 as Conveyance No. VV021887; Aircraft Inventory Security Agreement dated as of September 29, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 3, 2005 as Conveyance No. VV021863; Aircraft Inventory Security Agreement dated as of October 7. 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 3, 2005 as Conveyance No. VV021859; Aircraft Inventory Security Agreement dated as of October 18, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on December 2, 2005 as Conveyance No. VV02205I; Aircraft Inventory Security Agreement dated as of October 26, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 10, 2005 as . Conveyance No. VV021913; Aircraft Inventory Security Agreement dated as of October 30, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 10, 2006 as Conveyance No. VV021912; Aircraft Inventory Security Agreement dated as of November 4, 2005, between FtACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on November 17, 2005 as Conveyance No. VV021939; 20640/ EFTA00012765

EFTA00012766

'a In m Aircraft Inventory Security Agreement dated as of November 12, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on December 5, 2005 as Conveyance No. VV022063; Aircraft Inventory Security Agreement dated as of November 14, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on December 28, 2005 as Conveyance No. VV022127; Aircraft Inventory Security Agreement dated as of November 22, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on March 28, 2006 as Conveyance No. HH041507; Aircraft Inventory Security Agreement dated as of November 22, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on January 3, 2006 as Conveyance No. VV022149; Aircraft Inventory Security Agreement dated as of November 24, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on December 29, 2005 as Conveyance No. VV022130; Aircraft Inventory Security Agreement dated as of December 9, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on February 14, 2006 as Conveyance No. VV022477; and Aircraft Inventory Security Agreement dated as of December 23, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on February 2, 2006 as Conveyance No. VV022428. References to the above described agreements include any agreements attached thereto, incorporated by reference therein, or described therein referencing liens, encumbrances or security interests in favor of RACC. (collectively the "Security Agreements"). 20640/ EFTA00012767

9G an s q (24 rrjr76 EFTA00012768

CERTIFIED COPY • I TO•BE RECORDED BY FAA ea ccO?1 257 W GONVif:CANr;T: REC3107.0 FAA RELEASE 18 P19 1 '34 Raytheon Aircraft Credit Corporation (theraSiiiiitil.$4") as Exhibit A attached hereto, hereby releases from theA rtelrmiR: S:frU.t11 l uS'Icurity secured party under • the Security Agreements described and defined on Agreements all of its right, title and interest in and to the collateral described in the Security Agreements. Dated this on day of rkkaiwt-- , 2006. Raytheon Aircraft Credit Corporation By: Nam Title: President . 2064W SEE RECORDED CONVEYANCE NUMBER _V V01148ie DOC ID C__54:(e PAGE • • • SEE RECORDED CONVEYANCE NUMBER _e_0(../a0 DOC IL) C :341 PAGE I SEE RECORDED CONVEYANCL • NUMBER /VIM 041 7 4;-/ DOC ID C 3 14%3 PAGE, 0462r- Attt--tb. /YUCT- EFTA00012769

% [ I EFTA00012770

a ra t:. 03 Exhibit A Security Agreements Supplemental Aircraft Inventory Security Agreement dated as of June 13, 2003 between Raytheon Aircraft Credit Corporation ("RACC"), as secured party, and Flight Options. LLC ("FOLLC"), as debtor (with the Amended and Restated Aircraft Dealer Floor Plan Financing and Security Agreement, dated as of June 12, 2003 between RACC and FOLLC, attached thereto), recorded by the FAA on July 17, 2003, as Conveyance Number S122733; Supplemental Aircraft Inventory Security Agreement dated October IS, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on January 20.2005 as Conveyance No. P002013; Supplemental Aircraft Inventory Security Agreement dated November 12, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on January 11, 2005 as Conveyance No. P001943; Supplemental Aircraft Inventory Security Agreement dated December 3, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on January 11, 2005 as Conveyance No.1076690; Supplemental Aircraft Inventory Security Agreement dated December 9, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on February 24, 2005 as Conveyance No. KK034949; Supplemental Aircraft Inventory Security Agreement dated December 15, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on June 23, 2005 as Conveyance No. DD025579; Supplemental Aircraft Inventory Security Agreement dated December 17, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on January 19, 2005 as Conveyance No. 7004687; Supplemental Aircraft Inventory Security Agreement dated December 28, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on January 12, 2005 as Conveyance No. P001963; Supplemental Aircraft Inventory Security Agreement dated December 28, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on February 8, 2005 as Conveyance No. HI-I039060; Supplemental Aircraft Inventory Security Agreement dated December 29, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on March 3, 2005 as Conveyance No. HH039223; 2064W EFTA00012771

.. EFTA00012772

a Ca to Supplemental Aircraft Inventory Security Agreement dated December 29, 2004 between RACC, as secured party, and FOLLC, as debtor, which was recorded with the FAA on January 18, 2005 as Conveyance No. 1077264; Supplemental Aircraft Inventory Security Agreement dated January 14, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on January 31, 2005 as Conveyance No. HH038980; Aircraft Inventory Security Agreement dated as of January 18, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on July 22. 2005 as Conveyance No. Z006423; Aircraft Inventory Security Agreement dated as of January 22, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on February 7, 2005 as Conveyance No.1077420; Aircraft Inventory Security Agreement dated as of January 27. 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on February 4, 2005 as Conveyance No. RR030454; Aircraft Inventory Security Agreement dated as of January 28, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on February 22, 2005 as Conveyance No. MM027421; Aircraft Inventory Security Agreement dated as of January 28. 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on April 29, 2005 as Conveyance No. YY040080, as further amended by the Amendment No. IA to the Aircraft Inventory Security Agreement dated July 21. 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 13, 2005 as Conveyance No. VV021511; Aircraft Inventory Security Agreement dated as of February 2, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on March 22, 2005 as Conveyance No. KK035074; Aircraft Inventory Security Agreement dated as of February 3. 2005 between RACC, as secured • party, and FOLLC, as debtor, which was recorded by the FAA on May II, 2005 as Conveyance No. DD025405; Aircraft Inventory Security Agreement dated as of February 4, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on March 8. 2005 as Conveyance No. HH039251, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated April 5, 2005. between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on April 7, 2005 as 11036007; 20640/ EFTA00012773

.1. EFTA00012774

Aircraft Inventory Security Agreement dated as of March 18, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on May 5, 2005 as Conveyance No. YY040151, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated April 5, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 21, 2005 as Conveyance No. SS022819; Aircraft Inventory Security Agreement dated as of March 18, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on April 19, 2005 as Conveyance No. YY039962; as further amended by the Amendment to Aircraft Inventory Security Agreement dated as of August 19, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 15, 2005 as Conveyance No. VV021521; Aircraft Inventory Security Agreement dated as of March 25, 2005 RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 28, 2005 as Conveyance No. X149528; as further amended by the Amendment IA to the Aircraft Inventory Security Agreement dated July 21, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 9, 2005 as Conveyance No. PP029412; and further amended by the Amendment to Aircraft Inventory Security Agreement dated as of August 19, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 15, 2005 as Conveyance No. DD025867; Aircraft Inventory Security Agreement dated as of March 25, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 2, 2005 as Conveyance No. VV021083, as further amended by the Amendment IA to the Aircraft Inventory Security Agreement dated July 21, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on August 26, 2005 as Conveyance No. RR031704; Aircraft Inventory Security Agreement dated as of April I, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on May 4, 2005 as Conveyance No. YY040150; as further amended by the Amendment to Aircraft Inventory Security Agreement dated as of August 19, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on October 19, 2005 as Conveyance No. VV021726; Aircraft Inventory Security Agreement dated as of April 8, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on April 27, 2005 as Conveyance No. YY040046, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated August 19, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 19, 2005 as Conveyance No. VV021526; Aircraft Inventory Security Agreement dated as of April 28, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 7, 2005 as Conveyance No. VV021131; Aircraft Inventory Security Agreement dated as of May 2, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 8, 2005 as Conveyance No. HH039708, as further amended by the Amendment to the Aircraft Inventory Security Agreement 20640/ EFTA00012775

EFTA00012776

dated August 19, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September.26, 2005 as Conveyance No. VV021591; Aircraft Inventory Security Agreement dated as of May 13, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on June 16, 2005 as Conveyance No. SS022777, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated August 19, 2005, between' RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 15, 2005 as Conveyance No. VV021523; and Aircraft Inventory Security Agreement dated as of May 20, 2005 between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on August 3, 2005 as Conveyance No. R066884, as further amended by the Amendment to the Aircraft Inventory Security Agreement dated August 19, 2005, between RACC, as secured party, and FOLLC, as debtor, which was recorded by the FAA on September 22, 2005 as Conveyance No. VV021568. References to the above described agreements include any agreements attached thereto, incorporated by reference therein, or described therein referencing liens, encumbrances or security interests in favor of RACC. (collectively the "Security Agreements"). I CI ! t 4 Ni • l• • 'es t , i ti. e•-;v 1.1: : i fsdf yi;hso ydsioti 1 • I .1 .: ' r• A . , r n, LI,. A 4 ;,0 Teti silt bsisqmoa (- v.,6[P.,hb su •-•-• Isnicic, slit rin‘v Ming"- . , tenon bns suli s sill ns. .;,,,..ti t:i4Aa.4,..-,.-1; . • taw?kY;'• • , p. ,,:.O-..e.rml$4.hc.1- EFTA00012777

r „002.19z. it, 4R EFTA00012778

FAA PARTIAL RELEASE vvO222O5 CONVEY4NCE RECORDED ?096 JAN 11 PPJ 2 07 Raytheon Aircraft Credit Corporation (the "SecureittlaslaiRlioN secured party under the Security Agreement described ann ietilltW ANN Exhibit 4 attached hereto, hereby releases from the terms of the Security Agreement all of its right, title and interest in and to the Released Aircraft Interest described and defined on Exhibit A attached hereto. As to all collateral covered by the Security Agreement except the Released Aircraft Interest, the Security Agreement shall remain in full force and effect. Dated this Er day of 2005. Raytheon Aircraft Credit Corporation By: Title: President 20640/ r'.7.7Mrs EFTA00012779

FILED WITH FAA AIRCP AFT RI r'STR!.TION BR '05 DEC 29 PEI 3 28 OKLAHOMA CITY OKLAHOMA EFTA00012780

as N3 a Exhibit A FAA Partial Release Security Agreement Aircraft Inventory Security Agreement dated as of January 28, 2005 between Raytheon Aircraft Credit Corporation, as secured party, and Flight Options, LLC, as debtor, (with the Amended and Restated Aircraft Dealer Floor Plan Financing and Security Agreement, dated as of June 12, 2003 between Raytheon Aircraft Credit Corporation and Flight Options, LLC, attached thereto as Exhibit A), recorded by the FAA on February 22, 2005 as Conveyance No. MM02742 I (collectively the "Security Agreement"). Released Aircraft Interest Three and one-eighth percent (3.125%) undivided interest (representing the undivided interest conveyed to Air Leader, Inc.) in and to the Aircraft defined below (the "Released Aircraft Interest"). Aircraft One (I) Raytheon Aircraft Company model 400A aircraft bearing manufacturer's serial number RIC-244 and United States Registration Number N793TA, together with two (2) Pratt & Whitney Canada model JTI 5D-5 aircraft engines bearing manufacturer's serial numbers PCE- . JA0256 and PCE-JA0257 (collectively the "Aircraft"). The engines described above are in excess of 750 rated takeoff horsepower. 20640 EFTA00012781

• FILED W;TH FAA AIRCRAFT 2! f 'f•TRATION BR '05 DEC 29 !'El 3 28 OKLAHOMA CITY OKLAHOMA EFTA00012782

UNITED STATES OF AMERICA DEPARTMENT OF TRANSPORTATION FEDERAL seriATION AMAINSISTIUMOIAMICE NOPRIONEY AERONAUTICAL CENTER AIRCRAFT REGISTRATION APPLICATION UNITED STATES REGISTRATION NUMBER N 793TA AIRCRAFT MANUFACTURER & MODEL Raythenn Aircraft Carpany 400A AIRCRAFT SERIAL No. RK -244 FORM APPROVED. OMB No. 2120-004ga 111.3 1:03 CERT ISSUE DATE VV JAN 0 5 2iiiso FOR FAA USE ONLY TYPE OF REGISTRATION ((deck one box) 0 1. Individual O 2. Partnership O 3. Corporate'', CIX4 Co-owner (L) 5. Gov't. ,-, a Non-Citizen 1- 1 ' Corporation NAME OF APPLICANT (Person(*) shown on evidence of ownership. If individual. give test name. first name. and 40 14.) Flight Options, LLC See Attachment TELEPHONE NUMBER: ( 12.50% of 100% Middle initial) ADDRESS (Permanent melanin etiffroos for first aPtaicant listed.) (if P.O. BOX is used, physical address must also be shown. Flight Options, LLC Number and street: Rural Route CITY Richmond Heights I STATE P.O. Box. OH ZIP CODE 44143 CHECK HERE IF YOU ARE ONLY REPORTING A CHANGE OF ADDRESS ATTENTION? Read the following statement before signing this application. This portion MUST be completed. A false or cliShOriesl aorn.ar to any casonton in thin app'cation may be grounds for punt-J-imont by lino and/ or impnaonment (U.S. Code, Title is. Sec 1001). • CERTIFICATION MOVE CERTIFY: (1) That the above aircraft is owned by the undersigned applicant, wed re ea/bran (including corporations) of the United States. (For soling trust, give name of trustee" CHECK ONE AS APPROPRIATE: e- 0 A resident alien, with alien registration (Form 1-151 or Form 1-551) No. b. 0 Anon -citizen corporation organized and doing business under the laws of (state) and said aircraft Is based and primarily used in the United States. Records or flight hours we available for inspection at (2) That the aircraft is not registered under the twee of any foreign country: and (3) Thal legal evidence of ownership Is attached or has been fled with the Federal Aviation Administration. ) or: NOTE: if executed for co-ownership all aoDtiCantS must sign. Use reverse side if necessary. istant Secretary o Options, LLC DATE DATE NOTE Pending receipt of the Certificate of Aircraft Registration. the aircraft may be operated for a period not in excess of 90 days. during which time the PINK copy of this application must be canted In the aircraft. AC Rom 8050-1 (5/03) (0052-00-828-9007) EFTA00012783

FILED WITH FAA CRAFT RI -r;STRATION BR 'Og'DEC 29 Pf9 3 28 oxi:AiiotiA CITY . OKLAHOMA ...grant • EFTA00012784

0 N ATTACHMENT TO AIRCRAFT REGISTRATION ca APPLICATION 03 Name of Applicant: Reg #: N793TA Address: Model: Raytheon Aircraft Company 400A SIN#: RK-244 Owning an undivided Interest of: 1.) 12.50% of 100% Shown on Original form hereto 2.) 6.25% of 100% Shown on Original form hereto 3.) 6.25% of 100% Shown on Original form hereto 4.) 6.25% of 100% Shown on Original form hereto 5.) 3.125% of 100% Shown on Original form hereto 6.) 6.25% of 100% Shown on Original form hereto 7.) 6.25% of 100% Shown on Original form hereto 8.) 12.50% of 100% Shown on Original form hereto 9.) 9.375% of 100% Shown on Original form hereto 10.) 6.25% of 100% Shown on Original form hereto 11.) 3.125% of 100% Shown on Original form hereto 12.) 6.25% of 100% Shown on Original form hereto 13.) 3.125% of 100% Shown on Original form hereto 14.) le: Date: sistant Secretary of ht Options, LLC ling as Attorney-in-Fact for .2,3,4.5,6,7,8,9,10,11,12,13 1,91-del-05 By signing above, the applicant agrees and stipulates (I) to the terms. conditions and certification of the AC Form 8050-1 Aircraft Registration Application, to which this page is attached (the 'Application,. (II) that al of the information set forth on the Application is true and cutrect as of this dale, and (Ill) the Application may be executed by the co-owners by executing separate counterpart signature pages, each of which when so executed and delivered shall be an original, but al such counterparts shall together constitute but one and the same application. EFTA00012785

FILED WITH FAA AIRCR I. FT RI " SIR A TION BR '05 DEC 29 PM 3 28 OKLAHOMA CITY OKLAHOMA s.a EFTA00012786

FORM APPROVED OMB NO. 2120.0042 UNITED STATES OF AMERICA U. s. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION AIRCRAFT BILL OF SALE v V 0 2 2 1 7 8 CONVEYANCE RECORDED JAN 5 AP1 8 07 FEDERAL AVIATION ADMINISTRATION Do Not Wnte In TA14 Block FOR FAA USE ONLY FOR AND IN CONSIDERATION OF $1.00 ovc THE UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND BENEFICIAL TITLE OF THE AIRCRAFT DES- CRIBED AS FOLLOWS: UNITED STATES ?n6 REGISTRATION NUMBER N 793TA AIRCRAFT MANUFACTURER & MODEL RAYTHEON AIRCRAFT COMPANY 400A AIRCRAFT SERIAL NO. RK-244 DOES THIS 13TH DAY OF DEC., 2005 HEREBY SELL, GRANT, TRANSFER AND DELIVER ALL RIGHTS, TITLE, AND INTERESTS IN AND TO SUCH AIRCRAFT UNTO: PURCHASER NAME AND ADDRESS (IF INDIVIDUAL (S), GIVE LAST NAME, FIRST NAME. AND MIDDLE INITIAL.) AIR LEADER INC. 3.125% OF 100% RICHMOND HEIGHTS, OH 44143 DEALER CERTIFICATE NUMBER AND TO ITS EXECUTORS, ADMINISTRATORS, AND ASSIGNS:TO HAVE AND TO HOLD SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF. IN TESTIMONY WHEREOF I HAVE SET MY HAND AND SEAL THIS 13TH DAY OF DEC., 2005. SELLER NAME (S) OF SELL (TYPED OR PRINTED TITLE (TYPED OR PRINTED) • SSISTANT FLIGHT OPTIONS, .ECRETARY ACKNOWLEDGEMENT (NOT REQUIRED FOR PURPOSES OF FM RECORDING: HOWEVER, MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.) ORIGINAL: TO FAA AC Form 8050-2 (9/92) (NSN 0052-00-629-0003) Supersedes Previous Edition FV 44 La Ln gizAiter ona 9329ECOESO EFTA00012787

FILED WITH FAA AIRCRAFT RI ":f;TRA TioH BR '05 DEC 29 P(9 3 28 OKLAHOMA CITY OKLAHOMA EFTA00012788

FORM APPROVED OMB NO. 2120-0042 UNITED STATES OF AMERICA U. S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION AIRCRAFT BILL OF SALE V V 0 2 2 1 7 7 CONVEYANCE RECORDED 06 JON 5 fill 8 07 FEDERAL AVIATION ADMINISTRATION Do Not FOR FAA USE This Block \Note In E ONLY FOR AND IN CONSIDERATION OF $1.00 ovc THE UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND BENEFICIAL TITLE OF THE AIRCRAFT DES- CRIBED AS FOLLOWS: ) UNITED STATES REGISTRATION NUMBER N 793TA AIRCRAFT MANUFACTURER & MODEL RAYTHEON AIRCRAFT COMPANY 400A AIRCRAFT SERIAL NO. RK-244 DOES THIS 23R0 DAY OF SEPT., 2005 HEREBY SELL, GRANT, TRANSFER AND DELIVER ALL RIGHTS, TITLE, AND INTERESTS IN AND TO SUCH AIRCRAFT UNTO: PURCHASER NAME AND ADDRESS (IF INDIVIDUAL (S). GIVE LAST NAME. FIRST NAME, AND MIDDLE INITIAL.) EMERIL AIR LLC 6.25% OF 100% RICHMOND HEIGHTS, OH 44143 DEALER CERTIFICATE NUMBER AND TO ITS EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF. IN TESTIMONY WHEREOF I HAVE SET MY HAND AND SEAL THIS 23K0 DAY OF SEPT., 2005. ui —i ...I ILI U) NAME (S) OF SELL: TITLE (TYPED OR PRINTED) (TYPED OR PRINTED) FLIGHT OPTIONS, L SSI STANT • ECRETARY ACKNOWLEDGEMENT (NOT REQUIRED FOR PURPOSES OF FAA RECORDING: HOWEVER, MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.) ORIGINAL: TO FAA AC Form 8050-2 (9/92) (NSN 0052-00-629-0003) Supersedes Previous Edition ea fd ta EFTA00012789

FILED WITH FAA AIRCRAFT R! 5TRATION BR "05 DEC 29 3 28 °KIANG:1A CITY OKL.tilOPIA EFTA00012790

VV021989 CONVEYANCE RECORDED FAA PARTIAL RELEASE %NS NOV 28 11111 8 26 Raytheon Aircraft Credit Corporation (the "Securfeitaltart.ty,'NUON ADMINI$TRATION secured party under the Security Agreement described and defined on Exhibit A attached hereto, hereby releases from the terms of the Security Agreement all of its right, title and interest in and to the Released Aircraft Interest described and defined on Exhibit A attached hereto. As to all collateral covered by the Security Agreement except the Released Aircraft Interest, the Security Agreement shall remain in full force and effect. Dated this (-4 day of ot,An\on , 2005. Raytheon Aircraft Credit Corporation By: ME Title: President 20640 vi 0 ry 01 EFTA00012791

FILED WITH FAA .AIRCRAFT REDISTRATIOH BR 2005 OCT 6 ar1 10 46 • OKLAHOMA CITY OKLAHOMA EFTA00012792

r. N Exhibit A FAA Partial Release Security Agreement Aircraft Inventory Security Agreement dated as of January 38, 2005 between Raytheon Aircraft Credit Corporation, as secured party, and Flight Options, LLC, as debtor, (with the Amended and Restated Aircraft Dealer Floor Plan Financing and Security Agreement, dated as of June 12, 2003 between Raytheon Aircraft Credit Corporation and Flight Options, LLC, attached thereto as Exhibit A), recorded by the FAA on February 22, 2005 as Conveyance No. MM027421 (collectively the "Security Agreement"). Released Aircraft Interest Six and one-fourth percent (6.25%) undivided interest (representing the undivided interest conveyed to Emeril Legasse) in and to the Aircraft defined below (the "Released Aircraft Interest"). Aircraft One (1) Raytheon Aircraft Company model 400A aircraft bearing manufacturer's serial number RK-244 and United States Registration Number N793TA, together with two (2) Pratt & Whitney Canada model JT15D-5 aircraft engines bearing manufacturer's serial numbers PCE- JA0256 and PCE-JA0257 20640 EFTA00012793

FILED WITH FAA AIRCRAFT RECISTRLTION BR aos OCT 6 liP1 10 96 OKLAHOMA CITY OKLAHOMA EFTA00012794

U.S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION N CROSS-REFERENCE--RECORDATION SEE CONVEYANCE NO FILING DATE: This form is to be used in cases where a conveyance covers several aircraft and engines, propellers, or locations. File original of this form with the recorded conveyance and a copy in each aircraft folder involved. TYPE OF CONVEYANCE Aircraft Inventory Security Agreement DATE EXECUTED 7-29-2005 FROM Flight Options LLC DOCUMENT NO. \IV 0 a 1 CP26 TO OR ASSIGNED TO Raytheon Aircraft Credit Corp DATE RECORDED I i :* Q8- 6Nr i TIIE FOLLOWING COLLATERAL IS COVERED BY THE CONVEYANCE: AIRCRAFT (List by regisnalion number) I T O T A I , NI IMRFR DWAINE!) II N254CW N288CW N427CW N731TA N802TA N491 CW N47 I CW N793TAI N826CW N789TA N720TA Engines: Williams-Rolls F.I44-1A 1320 1321 1445 1446 P&W Canada ITI5D-5 PCE- 100233 PCE-IOO244 PCE-JA0316 PCE-JA0317 P-100360 P-I00361 PCE-JA0089 PCE-JA0091 PCE-JA0256 PCE-JA0257 PCE-JA0308 PCE-JA0307 Honeywell Intl TFE731-513R P-1O7448 P-1O7449 TFE731-5R P-91105 P-91152 P-IO7215 P-IO7214 ENGINES I TATA!. NUMBER INVOINFn 77 MAKE(S) See Above SERIAL NO. See Above PROPELLERS I TOTAI.NIIMIWR mot VA) • MAKE(S) SERIAL NO. SPARE PARTS --LOCATIONS I TATA! NI IMRFR notni.vpn LOCATION RECORDED CONVEYANCE FILED IN: N254CW, serial 525.0154, Cessna 525 AC FORM 8050-23 (1-96)(005240-S82-6000) EFTA00012795

I EFTA00012796

FORM APPROVED COS No. 21204,42 UNITED STATES STATES OF AMERICA DEPARTMENT OF TRANSPORTATION FEDOIAL AVIATCC011eaSTRATIOISNIKE alIONNONEV AERONAUTICAL CENTER AIRCRAFT REGISTRATION APPLICATION CERT. aa "w.,1 ISSUE DATC SEP 13 2005 UNITED STATES REGISTRATION NUMBER N 793TA AIRCRAFT MANUFACTURER 8. MODEL Raytheon Aircraft Company 400A AIRCRAFT SERIAL No. RK-244 FOR FAA USE ONLY TYPE OF REGISTRATION (Check one box) O 1. Individual 0 2. Partnership 0 3. Corporation 12 4. Co-owner 0 5. Gov't. O 8. Non-Oren NAME OF APPLICANT (Person(s) shown on evidence of ownership. If individual, give last name, first name, and middle Initial.) • '12.) Flight Options, LLC 21.875% of 100% See Attachment 8 0 Acec .:4) TELEPHONE NUMBER: ( ) ADDRESS (Permanent mailing address for first applicant listed.) Number and street: Flitht 0.tions LLC Rural Route: P.O. Sox: CITY Richmond Heights STATE OH ZIP CODE 44143 O CHECK HERE IF YOU ARE ONLY REPORTING A CHANGE OF ADDRESS ATTENTION! Read the following statement before signing this application. This portion MUST be completed. A false or deelerlest answer to any question in this application may be grounds for punishment by fine and / or imprisonment (U.S. Code. Title 18. Sec. 1001). ill CERTIFICATION IIWE CERTIFY: (1) That the above aircraft Is owned by the undersigned applicant, who is a citizen (including corporations) of the United States. (For voting trust. give name of trustee: ) or CHECK ONE AS APPROPRIATE: a. 0 A resident alien, with alien registration (Form 1-151 or Form 1-551) No b. 0 A non-c:itizen corporation organized and doing business under the laws of (state) and said aircraft is based and primarily used In the United States. Records or flight hours are available for inspection at (2) That the aircraft 111 not registered under the laws of any foreign country: and (3) That legal evidence of ownership is attached or has been filed with the Federal Aviation Administration. ust sign. Use reverse side it necessary -istant Secretarrn . ght Options, LL3n—act-cg ---W ta DATE DATE NOTE Pending receipt of the Certificate of Aircraft Registration, the aircraft may be operated for a period not In excess of 90 days, during which time the PINK copy of this application must be carried In the aircraft. AC Form 8050-1 (12/90) (0052-00-628-9007) Supersedes Previous Edition EFTA00012797

FILED WITH FAA AIRCRAFT REGISTRATION BR 2005 JUL 29 API 10 54 OKLAHOMA CITY OKLAHOMA. EFTA00012798

ATTACHMENT TO AIRCRAFT REGISTRATION APPLICATION elaS e d . Name of Applicant: Reg Si: N793TA Address: Model: Raytheon Aircraft Company 400k SiNtr: RK-244 Owning an undivided Interest of: 1.) 12.50% of 100% Shown on Original form hereto 2.) 6.25% of 100% Shown on Original form hereto 3.). 6.25% of 100% Shown on Original form hereto 4.) 6.25% of 100% Shown on Original form hereto 5.) 3.125% of 100% Shown on Original form hereto 6.) 6.25% of 100% Shown on Original form hereto 7.) 6.25% of 100% Shown on Original form hereto 8.) 12.50% of 100% Shown on Original form hereto 9.) 9.375% of 100% Shown on Original form hereto 10.) 6.25% of 100% Shown on Original form hereto 11.) 3.125% of 100% Shown on Original form hereto 12.) 13.) Signatures: Title Date: nt Secretary of ptions. LLC s Attorney-in-Fact for 5.6.7.8.9.10.11 Ds By Signing above. the applicant agrees and stipulates (I) to the terms. conditions and certification of the AC Form 8050.1 Aircraft Registration Application. to which this page is attached (the 'Applicationp, (II) that all of the information set forth on the Application is true and correct as of this date. and (III) the Application may be executed by the co-owners by executing separate Counterpart signature pages. each of which when so executed and delivered shall be an original, but all such counterparts shad together constitute but one and the same application. ca .14 Poi 03 EFTA00012799

I FILED WITH FAA AIRCRAFT REGISTRATION BR 2005 JUL 29 Fill 10 59 OKLAHOMA CITY OKLAHOMA EFTA00012800

,, FORM APPROVED j n 20.0042 0, UNITED STATES OF AMERICA U. S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION AIRCRAFT BILL OF SALE FOR AND IN CONSIDERATION OF $1.00 ovreSNEEYANCE-F EC0RDED UNDERSIGNED OWNER(S) OF THE FULL LEGAL Q‘' AND BENEFICIAL TITLE OF THE AIRCRAFT Apk -cp 13 irri t 45 CRIBED AS FOLLOWS: 1- UNITED STATES REGISTRATION NUMBER N 793TA FEDERAL AVIATION ADMINISTP,ATION AIRCRAFT MANUFACTURER & MODEL RAYTHEON AIRCRAFT COMPANY 400A AIRCRAFT SERIAL NO. RK-244 DOES THIS 251" DAY OF JULY, 2005 HEREBY SELL, GRANT, TRANSFER AND DELIVER ALL RIGHTS, TITLE, AND INTERESTS IN AND TO SUCH AIRCRAFT UNTO: PURCHASER Do Not Write In This Block FOR FAA USE ONLY NAME AND ADDRESS (IF INDIVIDUAL ($), GIVE LAST NAME, FIRST NAME, AND MIDDLE INITIAL.) FLIGHT OPTIONS. LLC 3.125% OF 100% RICHMOND HTS.,•OH 44143 01 DEALER CERTIFICATE NUMBER AND TO ITS EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF. IN TESTIMONY WHEREOF I HAVE SET MY HAND AND SEAL THIS 25TH OF JULY, 2005. CC w Tn NAME (S) OF SELL (TYPED OR PRINTED) RONALD A. ELENBA TITLE (TYPED OR PRINTED) ASSISTANT SECRETARY OF FLIGHT OPTIONS, LLC ACTING AS ATTORNEY- IN-FACT FOR RONALD A. ELENBAAS ACKNOWLEDGEMENT (NOT REQUIRED FOR PURPOSES OF FAA RECORDING: HOWEVER, MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.) ORIGINAL: TO FAA AC Form 8050-2 (9/92) (NSN 0052-00-629-0003) Supersedes Previous Edition 9:0Z/FAO W'SS 9T0XITCJI291 L__ EFTA00012801

VWOMINO All0 VW0HV1)10 FIS (II WU 6Z 11111 SOO?. 80 N0LLYHISI$381.O831ilt VIII HAIM p3114 EFTA00012802

J 3 p09995 ••••••%., aea FAA PARTIAL RELEAWVEYANCE RECORDED peos SEP 13 g 95 Raytheon Aircraft' Credit Corporation (t "Se FEDERL cured ,Fsr,K) as AYipo secured party under tile Security Agreement descriaNdi RIM Rata( on Exhibit A attached hereto, hereby releases from the terms of the Security Agreement all of its right, title and interest in and to the Released Aircraft Interest described and defined on Exhibit A attached hereto. As to all collateral covered by the Security Agreement except the Released Aircraft Interest, the Security Agreement shall remain in full force and effect. Dated this 21 day of ill , 2005. Raytheon Aircraft Credit Corporation By: Title: President SEE RECORDED CONVEYANCE NUMBER faa_fuzatha_ DOC ID_CeSLPAGE_L__ 20640 EFTA00012803

FILED WITH FAA AInCRAFT REGISTRATION OR 2005 JUL 29 fill 11 25 OKLAHOMA CITY OKLAHOMA • EFTA00012804

0. Exhibit A FAA Partial Release Security Agreement Supplemental Aircraft Inventory Security Agreement dated as of June Q, 2003 between Raytheon Aircraft Credit Corporation, as secured party, and Flight Options, LLC, as debtor (with the Amended and Restated Aircraft Dealer Floor Plan Financing and Security Agreement, dated as of June 12, 2003 between Raytheon Aircraft Credit Corporation and Flight Options, LLC, attached thereto), recorded by the FAA on July 17, 2003, as Conveyance Number S122733; further secured by the Supplemental Aircraft Security Agreement dated January 28, 2005 between Raytheon Aircraft Credit Corporation, as secured party, and Flight Options, LLC, as debtor, recorded by the FAA on February 22, 2005 as Conveyance No. MM02742 I (collectively the "Security Agreement"). Released Aircraft Interest Six and one-fourth percent (6.25%) undivided interest (representing the undivided interest conveyed Flight Options, LLC) in and to the Aircraft defined below (the "Released Aircraft Interest"). Aircraft One (1) Raytheon Aircraft Company model 400A aircraft bearing • manufacturer's serial number RK-244 and United States Registration Number N793TA, together with two (2) Pratt & Whitney Canada, LTD. model JT15D-5 aircraft engines bearing manufacturer's serial numbers PCE- JA0256 and PCE-JA0257. The engines described above are in excess of 750 rated takeoff horsepower. 20640 EFTA00012805

FILED WITH FAA AIP.',',RAFT REGISTRATION BR 2005 JUL 29 RP1 11 25 OKLAHOMA CITY OKLAHOMA EFTA00012806

'UNITED STATES OF AMERICA DEPARTPAF_NT OF TRANSPORTATION p At. aviroldel AOlinserivicnoweillica IN rtE CERT. ISSUE DATE II: Li JUL 1.8 2005 lialetailirr AanCisinuTICAL. COMM • - AIRCRAFT REGISTRA-GON APPLICATION MITED STATES t UNITED -riaattinsurnoN NUMBER N 793TA /UPDRAFT MANUFACTURER & MODEL Raytheon Aircraft Company 400A PCK AIRCRAFT SERIAL No. RK -244 FOR FAA USE ONLY TYPE OF REGISTRATION (CheM one box) 0 1. Individual • 2. Pastorship O 3. Corporation 53 4. Co-owner 0 5. Gov't. O 8. N'elizen Canperaten NAME OF APPLICANT (Pecoraro(*) shown on evidence of ownership. ft individual. give last name. first name. and middle initial.) ilo 13.) Flight Options, LLC 18.75% of 100% (lee Attachment 01430L-CCCQ --l e( 4 : -. ) . TELEPHONE NUMBER: ( ) ADDRESS (Permanent melting address for first applicant Nalad.)(ft P.O. BOX is used. physicaladdress must also be shown.) Number and street: Fli-ht Options LLC Rorie Route: P. Box: CITY Richmond Heights STATE OH ZIP CODE 44143 0 CHECK HERE IF YOU ARE ONLY REPORTING A CHANGE OF ADDRESS ATTENTION? Reed the following statement before signing this application. This portion MUST be completed. A lama or dishonest answer to any question in this application may be grounds for punishment by fine and / or imprisonment Code. Title le, Sec. loon. (U.S. 41, CERTIFICATION VWE CERTIFY: (I) That the above aircraft Is owned by the undersigned applicant, who is a citizen (including corporations) of the United States. (For voting trust give native of trustee. ) or- CHECK ONE AS APPROPRIATE: registration 1-151 Form 1-551) No. a. CIA resident seen. with alien (Form a b. CI A nOn-Cltizert corporalicws Organized and doing business under the laws of (state) an wed aircraft Is based and primarily used in the United States. Records or flight hours are available for inspection at (2) That the aircraft is not registered under the laws of any foreign county: and (3) That legal evidence of ownership Is attached or has been filed with the Federal Aviation Administration. retiree Side II necessary. Sedretarymm LLC ,_ tions, 4....,„, 4:5-, DATE DATE NOTE Pending receipt of the Certificate of Aircraft Registration, the aircraft may be operated for a period not in excess of 90 days. during which time the PINK ooPy of this application most be carried in the aircraft. FORM APPROVED e OMB No. 21204042 Itca 3 a AC Feint 8050-1 (5/03) (0052-00-6213-900T) EFTA00012807

• .*WILto WITH FAA . 41.116.1kKFT REGISTRATION F! FI . • • 2005 {TOY19 • P19 a 2€, - - - .0KLAHOMA.CtTY OKLAHOMA • EFTA00012808

ATTACHMENT TO AIRCRAFT REGISTRATION 436 APPLICATION Reg #: N793TA Model: Raytheon Aircraft Company 400A SIN#: RK-244 Owning an undivided Name of Applicant: Interest of: Address: 1.) 12.50% of 100% Shown on Original form hereto 2.) 6.25% of 100% Shown on Original form hereto 3.) 6.25% of 100% Shown on Original form hereto 4.) 6.25% of 100% Shown on Original form hereto 5.) 3.125% of 100% Shown on Original form hereto 6.) 3.125% of 100% Shown on Original form hereto 7.) 6.25% of 100% Shown on Original form hereto 8.) 6.25% of 100% Shown on Original form hereto 9.) 12.50% of 100% Shown on Original form hereto 10.) 9.375% of 100% Shown on Original form hereto 11.) 6.25% of 100% Shown on Original form hereto 12.) 3.125% of 100% Shown on Original form hereto 13.) Date: nt Secretary of Options, LLC as Attorney-in-Fact for 4,5,6,7,8,9,10,11,12 By signing above. the applicaM agrees and stipulates (I) to the terms. conditions and tartificalmn of the AC Form 8050-1 Aircraft Registration Application. to which this page is attached (the 'Application"). (II) that as of the information set forth on the Application is true and curved as of this date, and (III) the Application may be executed by the co-owners by executing separate counterpart signature pages, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same application. EFTA00012809

FILED WITH f AA AIRCRAFT REGISTRATION BR' 2005 FIR? 19 P11 3 26 OKLAHOMA CITY OKLAHOMA EFTA00012810