On March 13, 2001, about 1330 central standard time, a Grumman G-164A, N5076, registered to a private owner, operating as a Title 14 CFR Part 137 aerial application flight, lost power on takeoff and nosed over at the Popularville-Pearl River County Airport, Popularville, Mississippi. Visual meteorological conditions prevailed. No flight plan was filed. The airplane was substantially damaged. The commercial rated-pilot reported no injuries. The flight was originating at the time. The flight departed and at an altitude of about 60 feet above the ground. The pilot reported a loss of engine power. The pilot landed back on the runway, but only had about 200 feet of runway remaining. The airplane departed the end of the runway, down a steep embankment, the landing gear then dug into soft ground, and came to rest upside down. According to the FAA inspector's statement the engine was removed to the owner's facility and examined on March 3, 2001. According to the inspector's statement the engine examination revealed that "...the number 2 cylinder was found to be cracked at the forward spark plug opening and all around the circumference of the cylinder and at the intake valve. There was plenty of evidence of burned material and smut like coloration at the widest part of the crack which opened about 1/8 of an inch." The remainder of the engine and accessories did not display any discrepancies. Fuel was observed and no contamination was found.