C172 INSTRUCTOR AND STUDENT PERFORM STEEP BANK TURNS AND STALLS OVER A PARTY AT 1500 FT AGL.

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I WAS ON A TRAINING FLT WITH A STUDENT. MY STUDENT ASKED ME IF WE COULD DO A FLY-BY OF A PARTY WHICH WAS GOING ON AT THE TIME. I AGREED; AND NOTED THAT WE WOULD HAVE TO MAINTAIN 1000 FT AGL TO KEEP MSA. ON THE WAY TO THE LOCATION OF THE FLY-BY WE WERE TALKING ABOUT MAYBE DOING SOMETHING MORE THAN JUST FLYING OVER THE HOUSE. I AGREED TO DO SOMETHING; BUT I WAS NOT SURE WHAT. WHEN WE ARRIVED OVER THE HOUSE WE ENTERED A CLBING TURN AT ABOUT 45-50 DEGS OF BANK. WE CIRCLED 2 TIMES AT WHICH I TOLD HIM I HAVE THE CTLS. MY INTENTION WAS TO RAISE THE NOSE OF THE ACFT UNTIL REACHING A STALL; AND AT THE SAME TIME BE SOMEWHAT UNCOORDINATED SO THAT 1 WING WOULD DROP AND WE WOULD ENTER A L BANKING DSNDING TURN IN THE RECOVERY. WE ENTERED THE STALL AT APPROX 1500 FT ABOVE THE GND. THE ACFT ENTERED A SHARP L ROLL FOLLOWED BY A NOSE DOWN PITCH ATTITUDE. I RECOVERED THE ACFT; BUT IT TOOK ME 800 FT OF ALT TO RECOVER AND BEGIN A CLB; AND BY THIS TIME WE WERE ONLY 700 FT ABOVE THE GND. I DID NOT INTEND FOR THIS TO HAPPEN AND REALIZED AFTER THE FACT WHAT HAD OCCURRED. IN DOING THIS I MANAGED TO BREAK SEVERAL FAR'S; AND ALSO JEOPARDIZE THE SAFETY OF BOTH MY STUDENT AND MYSELF. I KNOW THAT IN ORDER TO PERFORM STALLS I MUST BE AT SUCH AN ALT AS TO SAFELY RECOVER BY 1500 FT ABOVE THE GND. I ALSO UNDERSTAND THAT IN POPULATED AREAS I MUST REMAIN AT LEAST 1000 FT ABOVE THE GND AT ALL TIMES. I LEARNED MANY THINGS FROM THIS. FIRST I WILL ALWAYS BE AT A SAFE ALT WHEN PERFORMING STALLS. WHEN PERFORMING STALLS I WILL ALWAYS MAINTAIN COORD. I WILL ALSO BE SURE NOT TO EVER ENTER INTO ANY ACTION WITH THE INTENTION TO 'SHOW OFF' TO SOMEONE ON THE GND. I REALIZE THAT MY ACTIONS WERE COMPLETELY THOUGHTLESS AND DANGEROUS. I WILL NEVER AGAIN DISRESPECT AN ACFT OR MY POS AS A FLT INSTRUCTOR. IN THIS ONE INSTANT I DISPLAYED A HUGE ERROR IN JUDGEMENT. I WILL ALSO BE SURE NOT TO EVER BE INFLUENCED BY SOMEONE ELSE WHILE IN OR AROUND ACFT.