On July 25, 2003, at 2010 eastern daylight time, a Gulfstream American, AA-5A, N727FT, owned and operated by a private pilot, collided with the ground and collapsed the nose gear following a loss of engine power near Canon, Georgia . The personal flight was operated under the provisions of Title 14 CFR Part 91. Visual meteorological conditions prevailed at the time of the accident. The airplane sustained substantial damage, and the private pilot and passenger received minor injuries. The flight departed Franklin County Airport, Canon, Georgia, on July 25, 2003, at 2000. According to the private pilot, shortly after take-off the airplane had a complete loss of engine power. Efforts by the pilot to restart the engine were unsuccessful. The pilot selected a field for an emergency landing. During the landing rollout, the airplane collided with a ditch and collapsed the nose gear. Examination of the accident site revealed the airplane came to rest inverted. The firewall, fuselage, and vertical stabilizer were buckled. Both wings and canopy sustained crush damage. Examination of the fuel system revealed that the fuel metering valve in the fuel pump was corroded shut. Approximately 5-tablespoons of water was retrieved from the fuel pump. Water was found in the fuel line from the fuel pump to the carburetor.