impulsive 1988 cruiser inc. 3170 meier survey 7-18-03.pdfa10-torgue tabs does not apply - a11-keel...

REPORT OF MARINE SURVEY Prepared Exclusively For

Mark Meier

Vessel Surveyed

" Impulsive " 1988 Cruiser Inc.

3170

Survey Conducted By

Jim Potts, S.A. Marine Surveyor 4205 Sherwood

Crystal Lake, IL 60012 (815)861-2346

ON 7-15-03

This report is issued without prejudice for the use of the purchaser and is a statement of opinion only. It is neither a guarantee nor a warranty of the condition, value or safety of the vessel or of any of its individual parts. All findings reflect conditions observed at the time of analysis. No destructive testing or the opening of any locked compartments in order to gain access to a hidden or inaccessible area for the purpose of examination was used in the creation of this report. Portions of this report were judged against American Boat and Yacht Council (ABYC), National Fire Protection Association (NFPA), Society Of Accredited Marine Surveyors (SAMS), and United States Coast Guard (USCG) standards. Jim Potts and Associates Marine Surveys Inc. are not held liable for errors of any kind, including errors of omission, that might be construed as negligent, inaccurate, or as misstatement of misrepresentation. Jim Potts and Associates Marine Surveys Inc. reserve the right to amend or extend this report upon receipt of additional information. The use of this report, for any purpose, shall indicate the purchaser's acceptance of the above conditions.

PREPARED BY JIM POTTS AND ASSOCIATES MARINE SURVEYS INC. MEMBER OF SOCIETY OF ACCREDITED MARINE SURVEYORS AND ABYC.


Page 2 of 22

INTRODUCTION

SCOPE OF SURVEY: The purpose of a survey inspection is to determine, insofar as possible within limitations of visual and physical accessibility, through non-invasive and non-destructive means, the condition of the subject vessel's structure, systems, cosmetics, levels of compliance with currently applicable mandatory and voluntary standards, and other industry standards and commonly accepted marine practices. The survey is based solely on a careful visual inspection of all accessible portions of the vessel's structure and available equipment. Certain parts of the hull and structure, equipment and machinery, plumbing and electrical systems, and rigging can be inspected only by removal of fiats, sole, decking, bulkheads, headliners, tanks, and joinery. This would be destructive in nature, prohibitively time consuming, and expensive to restore, and therefore, has not been done. Components requiring access with tools or by disassembly will not be inspected. Where dirt, marine growth, coatings buildup, rust or corrosion obscure the surveyor's ability to inspect, this limitation will be noted in the report's text. Conditions suspected or discovered by nondestructive methods may be further subject to invasive testing for confirmation. No destructive or invasive methods are involved in the usual survey procedures without the expressed permission of the vessel's owner. Complete inspection of machinery, auxiliaries, piping, tanks and systems can only made only by disassembly or by continuous operation. This has not been done, but may be recommended. No mechanical tests are performed nor are fluid samples drawn on propulsion or auxiliary generating machinery. Only the installation and external condition of machinery and accessories are visually inspected. This should not be considered a complete mechanical inspection. Qualified marine mechanics experienced with brand specific engines should be employed to survey engine(s) and/or generator(s). Propulsion and rudder shafts, keels and keel bolts are not drawn for inspection, but this may be recommended. Inspection of flexible piping, as installed in applications, is limited to the condition of its external casing and only where accessible for visual inspection. Sailboats' rig and rigging are inspected from deck level only. Unless otherwise known to be fact, spars and standing rigging are presumed to be original equipment. Where open water voyaging or extended cruising is planned, it is advised that a qualified marine rigger be employed to go aloft for inspection of rigging. Masts and rigging should be struck periodically for inspection and routine preventive maintenance. Electronic and electrical equipment is tested by powering up and observing function. No calibrations or adjustments are made. Batteries are not load tested. Only the external condition of electrical wiring, connections and systems' installations will be visually inspected. No attempt is made to perform a complete analysis of marine electrical systems as to do so often requires extensive removals of joinery, disassemblies, etc., to gain access to components.


Page 3 of 22 Generally it is this surveyor's experience that few vessels surveyed today meet all of the applicable standards for marine electrical system fabrication and installation. This fact is further aggravated by the wet and corrosive marine environment, owners' tolerances for poor installations, "do it yourself' add ons, and a general lack of preventive maintenance. Therefore, when our surveyor's limited visual inspections of an electrical system raises significant standards' compliance questions, the recommendation will be made to employ a qualified marine electrician for an in depth inspection. Attention to compliance with electrical standards is critical to avoiding conditions which will lead to fires, explosions and personal injury or death. Sails, bimini tops, dodgers, awnings, winter covers, canvas accessories, etc., are not laid out for inspection. Sails will be hoisted on sea trials but are not hoisted or unfurled otherwise. Used sails are accepted to have conditions of normal wear and tear for age. Meaningful evaluation of sails is best carried out by a sailmaker laying sails out in the loft. Other "canvas" is visually inspected when in position in installation. Ship's systems and vessels components parts have a limited useful life and must be considered perishable. Conditions affecting "useful life" include original material specifications, fabrication and manufacturing techniques, atmospheric exposures, history of use, etc. These systems and components parts often give no readily detectable external indications of deterioration or impending failure. The Federal Rules and Regulations for Recreational Boats, as excerpted from the United States Code (USC) and Code of Federal Regulations (CFR) and published by the American and Boat and Yacht Council (ABYC), along with the voluntary Standards and Practices for Small Craft, also published by ABYC, and those of the National Fire Protection Association (NFPA), Section 302, Fire Protection Standard for Pleasure and Commercial Motor Craft, provide some of the reference bases for our recommendations where relevant. Where compliance with a standard cannot be readily determined, this will be so noted. Insurance underwriting standards vary and may or may not be known to us. The foregoing commentary on the scope of the survey process and its limitations is designed to give the purchaser of the service some perspective about what can and cannot be expected from the survey inspection. Since records of the vessel's history of use and its maintenance schedules may not be available, the findings of the surveyor are necessarily limited to the current condition of the vessel as accessible for visual inspection. We recommend prospective purchasers seek full disclosure of facts of condition, prior damage, repairs, title status, etc. from all parties likely to have such knowledge. Further qualifying remarks may be found in the text of the survey report as may be required with reference to a specific part of the vessel or its equipment.


Page 4 of 22

TABLE OF CONTENTS

I GENERAL INFORMATION II UNDERWATER SYSTEMS HULL SUPERSTRUCTURE DECKS AND FITTINGS GROUND TACKEL AND DOCKING CABIN GALLEY

ELECTRONICS HEATING AIR CONDITIONING HULL TO DECK JOINT ELECTRICAL-AC ELECTRICAL-DC FRESH WATER SYSTEM PROPULSION AUXILARY GENERATOR FUEL SYSTEM STEERING SYSTEMS SANATATION SYSTEMS SAILS AND RIGGING BONDING SYSTEM USCG SAFTEY

III GENERAL DESCRIPTION IV DEFINITION OF TERMS V DEFICIENCY OBSERVATIONS AND RECOMENDDATIONS VI SUMMARY AND CERTIFICATION VII VALUATION


Page 5 of 22

Survey Requested By: Mark Meier Address: 6138 Alfred Blvd. Date and Time of Survey: 7-15-03 10:00AM Location of Survey: Punta Gorda Florida

VESSEL SPECIFICATIONS Name of Vessel " Impulsive " Builder Cruisers Inc. Model 3170 Year Of Vessel 1988 Length 30’ 10” Beam 10’ 10” Draft 34” Weight 10,500lbs Hull ID No. CRS6938BJ788 State Registration No. FL 0487 FW Hailing Port Punta Gorda Florida Surveyed In Water and on lift Intended Use Near Costal Official Number N/A Fuel Capacity 250 (gas) Propulsion System Twin Inboard Crusader Hull Type Modified Vee Fuel Type Gas Hull Material Fiber reinforced plastic A/C Power 120 volt D/C Power 12 volt Fresh Water 58 gallons Holding Tank 22 gallons Generator Onan 4000kw


Page 6 of 22

QUESTION UNDERWATER SYSTEMS

FINDINGS DEFICIENCY

A1-Propeller Four blade bronze YES A2-Propeller Shaft: 1 1/8 stainless steel YES A3-Packing Servicable - A4-Struts Serviceable - A5-Bearings Serviceable - A6-Rudders Serviceable - A7-Trim Tabs Bennett hydraulic - A8-Scoop Strainers Three - A9-Skegs Does Not Apply - A10-Torgue Tabs Does Not Apply - A11-Keel Does Not Apply - A12-Thru Hulls Five serviceable - A13-Transducers Appears Serviceable - A14-Zincs Two - A15-Thrusters N/A - A16-Hull Modified Deep-V, Planning - A17-Material FRP (fiber reinforced plastic) Gelcoat - A18-Anti-Fouling Paint

Yes-Keel is rubbed clean of anti fouling paint and is

YES

A19-Fuel Vent Screens

One screen in place -

A20-Port Lights Four - A21-Bilge Traces of oil present in bilge Yes A22-Limber Holes Clean and serviceable - A23-Longitudinal Clean and serviceable - A24-Arthwartships/Bulkheads

-

A25-Hull Comments Hull has several scratches but are cosmetic and not structural.

QUESTION

SUPERSTRUCTURE FINDINGS

DEFICIENCY

B1-Material FRP (fiber reinforced plastic) - B2-Finish Gelcoat - B3-Lower Bridge Yes - B4-Fly Bridge No - B5-Bridge Cover Yes - B6-Bimini Yes - B7-Bridge Enclosure

Yes -

B8-Cockpit Cover Yes - B9-Windshield Yes -


Page 7 of 22

QUESTION

SUPERSTRUCTURE FINDINGS

DEFICIENCY

Cover B10-Hatch Covers

No -

B11-Hard Top No - B12-Tower No - B13-Camper Back

Yes -

B14-Other - Superstructure Comments: canvas is in very good condition

QUESTION DECK AND FITTINGS

FINDINGS

DEFICENCYC1-Decks Structurally sound - cosmetically in need of

attention See Def Page

C2-Railings Good - C3-Fittings Good - C4-Arch Needs interior trim panel See Def. Page C5-Hatches Three hatches-Forward hatch hinge broken See Def. Page C6-Doors Teak in good condition - C7-Windows Plexiglas in good condition - C8-Cleats Good - C9-Swim Platform

Integrated fiberglass -

C10-Bow Pulpit Integrated fiberglass - C11-Winches One good condition - C12-Other Rub rails See Def Page- C13-Other - C14-Other - Deck and Fittings Comments: Deck is sound but needs cosmetic work

QUESTION

GROUND TACKLE AND DOCKING FINDINGS

DEFICIENCY D1-Anchors One Danforth - D2-Anchor Rode

½ inch three strand 300 feet -

D3-Windlass Yes-Serviceable - D4-Docking Lines

Eight found 5/8 triple braid varying lengths -

D5-Fenders Two Taylor Made - D6-Boarding Ladder

One -


Page 8 of 22

QUESTION

GROUND TACKLE AND DOCKING FINDINGS

DEFICIENCY D7-Swim Ladder

One/Stainless/Teak -

D8-Transom Door

Yes -

D9-Other - Ground Tackle and Docking Comments: All equipment seems in good condition

QUESTION CABIN COMFORTS

FINDINGS

DEFICIENCY E1-Staterooms Two- V-Birth/Mid cabin - E2-Sleeping Capacity

Six -

E3-Showers One - E4-Cabin Sole Carpet - E5-Upholstery Appears new - E6-Settee Appears new - E7-Storage Adequate - E8-Other - E9-Other - E10-Other - E11-Other - Cabin Comforts Comments: Cabin appears to have recently upgraded.

QUESTION GALLEY SYSTEMS

FINDINGS

DEFICIENCY F1-Stove Electric two burner Seaward - F2-Refrigerator Norcold 120vt. AC 12 vt. DC with freezer - F3-Freezer None - F4-Ice Maker None - F5-Bait Freezer None - F6-Washer/Dryer

None -

F7-Other Microwave Oven - F8-Other - F9-Other - Galley Systems Comments: Galley is serviceable


Page 9 of 22

QUESTION

HEATING AND AIR CONDITIONING

FINDING

DEFICIENCYG1-Reverse Cycle Yes Marine Air Systems - G2-Heating Units Same as above - G3-Air Conditioning Units

One -

G4-Other - G5-Heating And Air Conditioning Comments: Heat and Air both tested and serviceable

QUESTION MARINE ELECTRONICS

FINDINGS

DEFICIENCYH1-VHF 1

Standard Horizon (NEW) -

H2-VHF 2 - H3-GPS 1 Garmin - H4-GPS 2 - H5-Chart Plotter 1

Garmin 130 -

H5-Chart Plotter 2

-

H6-Loran 1 - H7-Loran 2 - H8-Compass 1 Ritche - H9-Compass 2 - H10-Speed Log 1 None - H11-Speed Log 2 - H12-Depth Sounder 1

Interphase -

H13-Depth Sounder 2

-

H14-Radar 1 Vigil Yes- H15-Radar 2 - H16-Hailer None - H17-Fish Finder Interphase - H18-RDF NO - H19-Wind Instruments

NO -

H20-Television 1 13 inch Philco/integrated in bulkhead - H21-Television 2 - H22-VCR 1 Panasoninc - H23-VCR 2 - H24-DVD Player None - H25-Spot Light Yes remote control - H26-Stereo 1 Jensen -


Page 10 of 22

QUESTION

MARINE ELECTRONICS FINDINGS

DEFICIENCY

H27-Stereo 2 - H28-Other Ray Marine Auto pilot - H29-Other - H30-Other - H31-Other - H32-Other - Marine Electronics Comments: Serviceable

QUESTION HULL TO DECK JOINT

FINDINGS

DEFICIENCYI1-Type Bonded - I2-Fasteners Bonded - I3-Backing Plates

Not sighted -

I4-Other - Hull and Deck Joint Comments : serviceable

QUESTION ELECTRICAL-AC SYSTEMS

FINDINGS

DEFICIENCYJ1-AC Voltage 120 volt - J2-Main Circuits Breaker panel - J3-Circuit Protection

Carlingswitch Circuit Breakers -

J4-Polarity Indicator

Yes -

J5-Wiring Serviceable - J6-Other - J7-Other - J7-Electrical -AC Comments: Wiring serviceable- GFCI in Head and galley

QUESTION

ELECTRICAL-DC SYSTEMS FINDINGS

DEFICIENCYK1-DC Voltage 12 volt - K2-Batteries Four - K3-Acid Proof Tray No - K4-Cover Positive Terminal

No -

K5-Main Circuits Serviceable - K6-Wiring, Lighting Serviceable Yes K7-Battery Switches None - K8-Battery Isolator Yes -


Page 11 of 22

QUESTION

ELECTRICAL-DC SYSTEMS FINDINGS

DEFICIENCYK9-Inverter DC/AC DC/DC 300 Watt/serviceable - K10-Battery Charger Yes - K11-Wipers Yes - K12-Other Two 30 amp power cords - K13-Other Misc. power cord adaptors - K14-Other - K15-Other - Electrical DC Systems Comments: See K-6 deficiency

QUESTION FRESH WATER SYSTEMS

FINDINGS

DEFICIENCYL1-Total Capacity 58 gallon flexible tank under v-birth - L2-Accumulator No - L3-Electric Water Pump

Sureflo 12 volt -

L4-Wash Down None - L5-Other - L6-Other - Fresh Water Systems Comment: Serviceable – tank and hoses appears new

PROPULSION

QUESTION Engine 1 (Port or Single)

FINDINGS

DEFICIENCYM1-Engine 350cid 270hp Crusader - M2-Manufacturer Chevrolet - M3-Model Number 350 - M4-Serial Number 14093638-70804 - M5-Cylinders 8 - M6-Horse Power 270 - M7-Engine Hours 450 reported - M8-Transmission Borg Warner V drive - M9-Coupling Bolts Serviceable - M10-Trans Safety Yes - M11-Exhaust Serviceable Yes M12-Cooling System Open - M13-Alarms (oil, Temp, Trans)

Yes -

M14-Out Drive N/a - M15-Overall Condition Good - M16-Other -


Page 12 of 22

QUESTION

Engine 1 (Port or Single) FINDINGS

DEFICIENCY

M17-Other - Engine One Comments: Some Rust between manifolds and risers. Yes

QUESTION ENGINE 2 (STARBOARD)

FINDINGS

DEFICIENCYN1-Serial Number 14093638-70799 - N2-Engine Hours 457 - N3-Out Drive - N4-Overall Condition

Good -

N5-Other - N6-Other - N7-Engine 2 Comments: Good.

QUESTION

AUX. GENERATOR FINDINGS

DEFICIENCY

R1-Manufacturer Onan mcck - R2-Fuel Gas - R3-Kilowatt Rating

4000 -

R4-Flame Arrester

Yes -

R5-Fuel Lines New - R6-Serial Number - R7-Ventilation Good/New - R8-Generator Hours

None stated -


Page 13 of 22

QUESTION

ENGINE 2 (STARBOARD) FINDINGS

DEFICIENCY

R9-Other New Dura Last 1000 amp hr. Battery - R10-Other 40 Amp Main disconnect at generator, individual

circuit protection on breaker panel in cabin. -

R12-Other - R13-Other - Generator Comments: Appears to be new installation with 40 amp disconnect at generating unit.

QUESTION FUEL SYSTEM

FINDINGS

DEFICIENCY S1-Fuel Gas - S2-Fuel Capacity 250 Gallons - S3-Fuel Tanks One galvanized - S4-Water Separators /Filters

Three -

S5-Fuel Line Yes serviceable - S6-Shut Off Valves None - S7-Systems Fuel - S8-Other - S9-Fuel Systems Comments: Good

QUESTION STEERING SYSTEM

FINDINGS

DEFICIENCYT1-Stations One - T2-Steering Type

Hydraulic Teleflex -

T3-Hydraulic Lines

Good -

T4-Auto Pilot Ray Marine serviceable - T5-Manufacturer

-

T6-Other - T7-Other - T8-Steering Systems Comments: Good

QUESTION SANATATION SYSTEMS

FINDINGS

DEFICIENCYU1-Number of Heads One - U2-Type of Head 1 Manuel - U3-Type of Head 2 - U4-Type of Head 3 -


Page 14 of 22

QUESTION

SANATATION SYSTEMS FINDINGS

DEFICIENCY

U5-Y-Valve Yes - U6-Holding Tank Capacity

22 gallons -

U7-Other Through Hull fitting for pump out - U8-Other - Sanitation Systems Comments: Serviceable

QUESTION SAILS AND RIGGING

FINDINGS

DEFICIENCYV1-Masts N/A - V2-Forestays N/A - V3-Shrouds N/A - V4-Backstays N/A - V5-Running Rigging

N/A -

V6-Chain Plates N/A - V7-Boom N/A - V8-Wenches N/A - V9-Sails N/A - V10-Other N/A - Sails and Rigging Comments: N/A

QUESTION BONDING SYSTEM

FINDINGS

DEFICENCYW1-Engines Bonded - W2-Generators Bonded - W3-Fuel Tanks Bonded - W4-Sea cocks Bonded - W5-Sea Strainers Bonded - W6-Propeller Shafts

Bonded -

W7-Other - W8-Other - Bonding System Comments: Good

QUESTION USCG SAFETY

FINDING

DEFICENCY X1-PFDs Adequate/11 located - X2-Throwable Dev.

Yes -

X3-Fire One hand held extinguisher in cockpit and one -


Page 15 of 22

QUESTION

USCG SAFETY FINDING

DEFICENCY

Extinguishers in the galley. X4-Signal Flares Yes-New - X5-Sound Device Yes - X6-Flame Arrester

Three-clean condition -

X7-Nav. Lights Yes - X8-Blowers Yes - X9-Passive Vent Clear - X10-Oil Plaque Yes - X11-Garbage Plaque

Yes -

X12-Bilge Pumps Two - X13-Fume & Carbon Detect.

Yes-Appears to be new carbon monoxide detector in main salon. Fume detector appears serviceable

-

X14-EPIRB No - X15-Halon System

Yes-Halon system in engine compartment appears serviceable. Halon indicator light on dash shows green and states “ready”

-

X16-Other - USCG Safety Comments: Safety requirements are to standards.

QUESTION

FISHING EQUIPMENT FINDINGS

DEFICENCY

Y1 Misc. Fishing Limited/misc. - Y2 Misc. Fishing Two rod holders - Y3 Misc. Fishing - Fishing Comments


Page 16 of 22

GENERAL DESCIPTION

This vessel was surveyed in the water and on a private lift. I t appears to be in generally good condition and mechanically maintained. A sea trial found no mechanical deficiencies, While other deficiencies exist they appear to be mostly cosmetic in nature, the boat is in generally sound and in good running condition.

GENERAL CONSTRUCTION All machinery was installed according to existing ABYC standards. Ventilation throughout the vessel can be considered as adequate. All partitions and bulkheads were inspected where accessible and found to show no signs of weakness due to flexing and or separation. All wiring was inspected where accessible and found to be in good condition. Circuits are being protected from overload by circuit breakers on both the AC and DC systems.

HULL AND DECK SUPER STRUCTURE This vessel was found to be a good marine risk in its present condition.

SURVEYORS COMMENTS The mandatory standards promulgated by the United States Coast Guard (USCG), under the authority of title 46 United States Code (USC); Title 33 and 46, Code Of Federal Regulations (CFR) and the voluntary standards and recommended practices developed by the American Boat and Yacht Council (ABYC) and National Fire Protection Association (NFPA) have been used as guidelines in the conduct of this survey.

ENGINE ANALAYIS

The 350 Cubic Inch Chevrolet engines perform equally at various rpm. The starboard engine operates at a slightly increased temperature at higher rpm. Compression tests performed on both engines are normal for the reported hours and show slight (normal) variations. Both engines idle at approximately 750 RPM and reached a Maximum RPM of 4100 (starboard) and 4300 (port). Both engines throttle up and back evenly with no miss or hesitation noted. Both engines have crankshaft driven raw water cooling and circulation pumps and appear serviceable. The alternators are Delco (one wire) 60 amp and appear serviceable.


Page 17 of 22

DEFINITION OF TERMS

The terms and words used in this report have the following meanings as used

in this report.

Appears: Indicates that a very close inspection of the particular system, component or item was not possible due to constraints imposed upon the surveyor. (No power available inability to remove panels). Fit for Intended use: Use which is intended by survey purchaser (Present or Prospective owner) Excellent Condition: New or Like New Good Condition: Nearly new with only minor structural or cosmetic discrepancies noted. Fair Condition: Denotes that system, component or items is functional as is with minor repairs. Poor Condition: Useable as is. Requires repairs or replacement of system, components or item to be considered functional. Serviceable or Adequate: Sufficient for a specific requirement. Power Up: Power was applied only. This does not refer to the operation of any system or component unless specifically indicated. ABYC: American Boat and Yacht Council. Setting Standards and Recommendations Practices for Small Crafts. SAMS: The Society Of Accredited Marine Surveyors.


Page 18 of 22

DEFICIENCY OBSERVATIONS AND RECOMMENDATIONS Question # RECOMENDATIONS A-1 Propellers need scraping to remove marine crustaceans A-2 Shafts and running gear need scraping to remove marine crustaceans A-18 Paint on the keel is rubbed off allowing marine crustaceans to form,

should be scraped and repainted to enhance performance. A-21 Bilge has traces of oil and should be cleaned using a biodegradable

solvent degreaser. C-1 The deck although structurally sound is in need of cosmetic attention. It

has chips in the gel coat, screw holes from prior upholstery panels and rust marks all of which detract from the value of this vessel.

C-4 Radar Arch is missing the overhead trim panel. C-5 One of the two hinges on the forward stateroom hatch is broken and

needs replacement. H-14 K-6

Vigil radar would not power up Some of the plastic wire ties (12 volt system) are broken and need replacing.

M-11 Engine exhaust manifolds show signs of rust between the manifold and risers. Although normal for salt water cooled engines with the reported hours, owner should consider replacement in the near future.

C-12 Rub rail has separated from the hull on starboard side loose in other areas. Needs to be reattached and seated with appropriate fasteners.


Page 19 of 22

DEFICIENCY OBSERVATIONS AND RECOMMENDATIONS Question # RECOMENDATIONS


Page 20 of 22

SUMMARY AND CERTIFICATION

Summary: In accordance with the request for a marine survey, it is the purpose of evaluating its present condition and estimating its Fair Market Value and Deficiency Depreciation Cost, I herewith submit my conclusion based on the preceding. Surveyor's Certification: I certify that to the best of my knowledge and belief: The statements of fact contained in this report are true and correct. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and is my personal, unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the vessel that is the subject of this report, and I have no personal interest or bias with respect to parties involved. My compensation is not contingent upon the reporting of a predetermined value of direction in value that favors the cause of the client, the amount of the value estimate. I have made a personal inspection of the vessel that is the subject of this report. This report is submitted without prejudice and for the benefit of whom it may concern.

Attending Surveyor: ______________________ Jim Potts, SA


Page 21 of 22

SUMARRY AND VALUATION

For

" IMPULSIVE ” 1988

3170 CRS6938BJ788

Overall Condition GOOD

Estimated Value $38,900

Deficiency Depreciation $6,500

Current Estimated Value $32,400

Replacement Cost $35,000 The fair market value is the most probable price in terms of money which a vessel should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently, knowledgeable and assuming the price is not affected by undue stimulus.

Prepared by Jim Potts and Associates Marine Surveyors Inc.

7-20-03


Page 22 of 22

PHOTOS OR ATTACHED RUBBINGS

Rub rail separation

Rusting Manifolds

Panel missing

Vessel SurveyedCrystal Lake, IL 60012

impulsive 1988 cruiser inc. 3170 meier survey 7-18-03.pdfa10-torgue tabs does not apply - a11-keel...

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