sumerset 14 x 78 sample survey

TIPTON MARINE SURVEYSMARINE SURVEYOR

1989 Sumerset 14 x 78"Sample Survey"

P.O. Box 1 Lenoir City, TN 37771(865) 406-3029

MEMBER OF SOCIETY OF ACCREDITED MARINE SURVEYORS®

Report of Marine Survey

Of The Vessel

"Sample Survey"1989 Sumerset 14 x 78

Conducted byJames R. Tipton, Surveyor Associate

Member - American Boat & Yacht Council

PREPARED EXCLUSIVELY FOR:

Valued Client

October 25, 2013

MEMBER OF SOCIETY OF ACCREDITED MARINE SURVEYORS®

TABLE OF CONTENTS

TOC"Sample Survey" surveyed by Tipton Marine Surveys - Lenoir City, TN 37771

SECTION PAGE NO.

I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .INTRODUCTION 1II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .GENERAL INFORMATION 5III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SYSTEMS 7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .HULL DECK AND SUPERSTRUCTURE 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .CABIN APPOINTMENTS 11

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .PROPULSION 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FUEL SYSTEM 16

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ELECTRICAL SYSTEMS 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FRESH WATER SYSTEM 22

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SANITATION 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .STEERING SYSTEM 24

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .GROUND TACKLE 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . .ELECTRONICS AND NAVIGATION EQUIPMENT 24

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .THRU-HULLS 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SAFETY EQUIPMENT 27

. . . . . . . . . . . . . . . . . . . . . . . .AIR CONDITIONING AND HEAT (AIR CONDITIONING) 29IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FINDINGS AND RECOMMENDATIONS 30V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SUMMARY AND VALUATION 45VI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .PHOTOGRAPHS 49

TOC"Sample Survey" surveyed by Tipton Marine Surveys - Lenoir City, TN 37771

I. INTRODUCTION

Page 1 of 53"Sample Survey" surveyed by Tipton Marine Surveys - Lenoir City, TN 37771

SCOPE OF SURVEYActing at the request of Valued Client, the attending surveyor conducted an in the water Pre-Purchase Marine Survey of the "Sample Survey" a 1989 Sumerset 14 x 78, beginning on October 22nd, 2013 starting at 12:00 P.M. and continuing through 5:30 P.M. where she was docked at Lakeshore Marina, 2285 Highway 321, Hampton, TN 37658. The weather was mild with temperatures in the low to mid sixties. The ship's papers were available. The Hull Identification Number (HIN) SZJ012345678 was able to be verified on the transom. The vessel's engines and generator had previously been winterized by the owner and were not tested as directed by the buyer. Neither a sea trial nor an out of the water inspection of underwater machinery and the exterior of the hulls wetted surface area was performed. The vessel's owner Mr. John Doe was present during the course of the survey.The fly bridge was also not inspected or tested due to multiple deck boxes stacked in front of the fly bridge that were tied and covered for winter.The reason for the survey, was to ascertain the physical condition and value of the vessel for Valued Client for possible purchase. AC and DC power was used to check the operation of the electrical systems specified in this report only. Electronic equipment was checked for ''power up'' only. No reference or information should be construed to indicate evaluation of the internal condition of the engines or the propulsion system's operating capacity. This vessel was surveyed without removal of any parts, including fittings, tacked carpet, screwed or nailed boards, anchors and chain, fixed partitions, instruments, clothing, spare parts and miscellaneous materials in the bilges and lockers, or other fixed or semi-fixed items. Locked compartments or otherwise inaccessible areas would also preclude inspection. The owner is advised to open up all such areas for further inspection. Further, no determination of stability characteristics or inherent structural integrity has been made and no opinion is expressed with respect thereto. This survey report represents the condition of the vessel on the above dates, and to be considered an inventory or a warranty either specified or implied.

NOTE: It is recommended that all DIESEL/GAS engines be surveyed by a qualified Engine Surveyor to determine the condition of the engines, gears and pumps, heat exchangers, coolers, etc.Where installation of double hose clamps are recommended throughout this report, it is understood that double clamps should only be installed where there is sufficient length of tailpiece / pipe available and hose length overlap to allow correct installation. No clamp shall be installed closer than 1/4" to the end of the hose and must fully engage the tailpiece / pipe or fitting. Any clamp extending over the end may cause the hose to be cut internally or force the hose off the fitting and is an incorrect installation.Solid, unperforated type hose clamps utilizing 316 stainless steel with rolled edges are recommended for all hose to pipe joints particularly when located below the waterline.

CONDUCT OF SURVEY:THE MANDATORY STANDARDS PROMULGATED BY THE UNITED STATES COAST

I. INTRODUCTION


GUARD (USCG), UNDER THE AUTHORITY OF TITLE 46 UNITED STATES CODE (USC); TITLE 33 AND TITLE 46, CODE OF FEDERAL REGULATIONS (CFR), AND THE VOLUNTARY STANDARDS AND RECOMMENDED PRACTICES DEVELOPED BY THE AMERICAN BOAT AND YACHT COUNCIL (ABYC) HAVE BEEN USED AS GUIDELINES IN THE CONDUCT OF THIS SURVEY.Any moisture readings taken and referenced within the body of the report, were taken with a Ryobi Moisture meter. Electrical readings were taken using a Fluke 77 IV multimeter, Hyoki 3280-20 Digital Clamp-On meter and an ExTech CT-70 AC Circuit Load Tester.The use of the word ''appears'' is intended to indicate that a close or complete inspection was not possible or it was not deemed appropriate at the time of this survey. The deficiencies reported herein reflect the conditions observed at the time the survey was conducted.Use of asterisks * in the body of the report will indicate that a finding will be listed in the Findings and Recommendations section pertaining to the asterisked item, following the body of the report.Where installation of double hose clamps are recommended throughout this report, it is understood that double clamps should only be installed where there is sufficient length of tailpiece / pipe available and hose length overlap to allow correct installation. No clamp shall be installed closer than 1/4" to the end of the hose and must fully engage the tailpiece / pipe or fitting. Any clamp extending over the end may cause the hose to be cut internally or force the hose off the fitting and is an incorrect installation.

I. INTRODUCTION


VESSEL DESCRIPTIONThe "Sample Survey" is a 14 foot by 78 foot houseboat built by Sumerset Houseboats in August, 1989. The vessel has a welded aluminum hull divided into three separate watertight compartments. The superstructure is composed of fiberglass covered plywood that is covered with grooved wood paneling on the interior. She is powered by twin Volvo-Penta AQ211A gasoline engines located at the stern. A 12.5 Kilo-watt Westerbeke gasoline powered generator or the 3,000 Watt Inverter provides necessary electrical power when the "Sample Survey" is away from shore power.

On the main deck, there is a large front deck for grilling, outdoor dining and socializing. A ladder on the port side of the aft deck leads to the upper deck.

Entry into the main salon is through a set of sliding glass doors that open into the main salon. A lightly stained wood and neutral color scheme is utilized throughout the vessel. To starboard is the lower helm station. Further aft is the Galley equipped with a wet bar and dining area. good sized counter surfaces are covered in a white Formica. A built-in microwave, dishwasher and full sized range/oven and refrigerator complete an open and efficient kitchen area. As you proceed past the galley down the center companionway, you encounter the first of two heads. The forward head located to starboard is comprised of a incinerator head with built in sink, cabinet and mirror. Louvered doors immediately to the right provide access to a stacked washer and dryer unit.

To port is a stateroom with queen sized bed, built in nightstand and storage closet. Mirrors are installed on the walls to visually increase the size of the space. Proceeding further down the companionway, a short ladder leads down to the lower stateroom, positioned below and partially aft of the first stateroom. A queen sized bed at floor level is positioned under a lowered overhead, while a full height dressing area occupies the aft portion of the space. Both staterooms are well lit with furnishings in like new condition.

The Master's Stateroom includes a queen sized bed, ceiling fan and two wardrobe closets for hanging items. Drawer storage is available in a built in twelve drawer built in dresser as well as two night stand units.

The aft deck serves multiple purposes; a swim platform, a private sitting area and as the landing

I. INTRODUCTION


for a ladder leading to the upper deck. Three large hatches inset into the deck provide maintenance access to the engine and generator machinery. The Heat Pump Condenser unit is positioned beneath the ladder.

The upper deck extends the full length and width of the vessel and provides space for sunning or lounging under the covered sitting area, or sitting with the Captain as he pilots the "Sample Survey" from the fly-bridge.

II. GENERAL INFORMATION

GENERAL INFORMATION


. . . . . . . . . . . . . . . . . . . . . . . . . . . .FILE NUMBER:10222013_Sumerset_78_Precious_Moments

. . . . . . . . . . . . . . . . .SURVEY PREPARED FOR: Valued Client

. . . . . . . . . . . . . . . . . . . . . . .NAME OF VESSEL: "Sample Survey" . . . . . . . . . . . . . . . . . . . . . . . .TYPE OF SURVEY: Pre-Purchase for Buyer

. . . . . . . . . . . . . . . .OVERALL VESSEL RATING: AVERAGE (BUC) . . . . . . . . . . . . . .ESTIMATED MARKET VALUE: $99,002

. . . . . . . .ESTIMATED REPLACEMENT COST: $350,000 (Surveyor's Estimate - no data available from BUC)

. . . . . . . . . .YEAR/MAKE/MODEL OF VESSEL: 1989 Sumerset 14' x 78' Wide Body Houseboat

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BUILDER: Sumerset Houseboats, 375 Parkers Mill Rd, Somerset, KY

. . . . . . .HULL IDENTIFICATION NUMBER (HIN): SZJ012345678 . . . . . . . . . . .STATE REGISTRATION NUMBER: TN 1234 AB

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .OWNER: John Doe, 123 Elm St., Anytown, TN . . . . . . . . . . . . . . . . . . . . . .PLACE OF SURVEY: Lakeshore Marina, 2285 Highway 321,

Hampton, TN 37658 . . . . . . . . . . . . . . . . . . .DATE/TIME OF SURVEY: October 22, 2013 12:00 P.M. to 5:30

P.M. . . . . . . . . . . . . . . . . . . . . . . . . . .HULL MATERIAL: Aluminum

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .HULL TYPE: Shallow V . . . . . . . . . . . . . . . .LENGTH OVER ALL (L.O.A).: 78' per Registration

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BEAM: 14' . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .DRAFT: 3'

. . . . . . . . . . . . . . . . . . . . . . . . .DISPLACEMENT: No data available . . . . . . . . . . . . . . . . . . . .PROPULSION SYSTEM: Twin Volvo-Penta AQ 211 A

Inboard=Outboard Engines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FUEL TYPE: Gasoline.

. . . . . . . . . . . . . . . . . . . . . . . . . .FUEL CAPACITY: Two 95 US Gallon Tanks located forward in Engine Compartment (per Label)

II. GENERAL INFORMATION


. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .AC POWER: Single Single 125 volt, 50 amp inlet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .DC POWER: 12 Volt DC

. . . . . . . . . . . . . . . .FRESH WATER CAPACITY: Two 85 gallon tanks located in center hold at midships. (per calculation)

. . . . . . . . . . . . . . . . . . . . . . . . . .HOLDING TANK: None Sighted. . . . . . . . . . . . . . . . . . . .INTENDED USE/BUYER: Recreational boating on Watauga

Lake, TN . . . . . . . . . . . . . . . . . . .BUYER'S EXPERIENCE: Not Known.

. . . . . . . . . . . . . . . . . . . . . . . . . .INTENDED USE: Recreational Lake CruisingDEFINITION OF TERMS:

The terms and words used in this report have the following meanings as used in this Report of survey:APPEARS - Indicates that a very close inspection of the particular system, component or item was not possible due to constraints imposed upon the surveyor (e.g. no power available, inability to remove panels, or requirements not to conduct destructive tests).FIT FOR INTENDED USE - Suitable for use intended by Survey Purchaser (present or prospective owner).SERVICEABLE or ADEQUATE - Sufficient for a specific requirement.POWERS UP - Power was applied only to determine if the system or component would energize. It does not validate the operation of any system or component unless specifically indicated.EXCELLENT CONDITION - New or like new.GOOD CONDITION - Nearly new, with only minor cosmetic or structural discrepancies noted.FAIR CONDITION - Denotes that the system, component or item is functional as is with minor repairs. (MONITOR OFTEN)POOR CONDITION - Unusable as is. Requires repairs or replacement of system, component or item to be considered functional.USE OF * - The use of * in the body of this report will indicate that a finding will be listed in the ''Findings and Recommendations'' section pertaining to the * item.

III. SYSTEMS

HULL DECK AND SUPERSTRUCTURE


HULL CONSTRUCTIONTYPE:

Aluminum, shallow V with keel and forward strakes.MATERIAL:

Aluminum skin over welded aluminum frame.EXTERIOR HULL:

The exterior hull is natural aluminum skin with a four inch (estimated) black stripe over a one and one half inch (estimated) dark gray stripe running the length of the vessel on both port and starboard sides. The stripes are positioned approximately twelve inches above the the water line. The striping is in fair condition with good color, but has been scraped and cut in several places.

BULKHEADS:Athwartships reinforcement is enhanced by two aluminum bulkheads that separate the bow, center and engine compartments. Appears serviceable where sighted.

STRINGERS:Hull stiffness provided by welded aluminum longitudinal stringers. Lateral reinforcement accomplished with lateral frames approximately every 36". Center hold flooring is covered by a 3/4" plywood sole. Complete inspection not possible due to limited access. Appears serviceable where observed.

STEM:Gently rounded stem with welded pad-eye plate for painter. Appears to be in good condition.

TRANSOM:Welded aluminum transom, obscured by aft deck and cantilevered swim platform. Appears serviceable where sighted.

BILGE:*C1Bilge area in all compartments was basically dry. Some dirt and debris noted in all locations. Recommend cleaning as soon as possible.

LIMBER HOLES:Limber holes are of adequate size and clear where sighted.

<User Define>*C2The design of the vessel includes a swim platform which is created by extending the fantail out over the outdrives several feet. This creates an excellent swim area. It also creates the potential for carbon monoxide to get trapped underneath the platform. It is recommended that swimmers be advised of this potential danger and avoid swimming under and surfacing under the platform.

III. SYSTEMS



DECK CONSTRUCTIONTYPE:

*B1, C3The exterior main deck of the vessel is made of sheet aluminum covered with a medium gray carpeting. The carpet is in very good condition in all areas except the ladder leading from the primary helm to the upper deck. At that location, the carpeting is worn on the edges of the stair risers and at the landing adjacent to the primary helm.The interior main deck of the vessel is comprised of 3/4 inch plywood covered with a high quality laminate flooring. Wood variety appears to be cherry, the decking appears to be well installed with mitered frames surrounding the inset hatches that provide access to the hold. The overall condition of the floor is like new.The upper deck of the "Sample Survey" runs the full length of the vessel with a slight step down at about midway between the bow and stern. The gelcoat appears fairly new but numerous chips were noted. The owner stated that he gelcoats the boat himself every two or three years and reported that he gelcoated last year (2012) and that while pressure washing this year he chipped the gelcoat in several small areas. These chips number about fifteen to twenty and range in size from about 1/4 inch to about 1 inch in diameter. The deck in the fly bridge could not be inspected due to the equipment stacked and tied down against the fly bridge. No soft spots were detected in any portion of the accessible decking. No significant moisture penetration appeared at the time of inspection, and no evidence of current leakage from the upper deck is visible from the interior of the vessel.

HULL-TO-DECK JOINTTYPE:

Hull to deck joint is welded aluminum. The joint itself is covered with a chrome and rubber rub rail that appears to be good condition. Visualization of the actual joint was not made.

DECK FITTINGSSAFETY RAILINGS:

Welded aluminum rail system, runs the perimeter of the vessel at the main deck level. Boarding gates are located at both forward and aft decks with boarding gates located to port and starboard. On the forward porch and at the aft porch swim platform gates are located as well. All railings and boarding gates are covered in heavy black canvas for privacy and security. All gates have mechanical lift on/lift off mechanisms with positive latching. Condition was serviceable. The upper deck is also enclosed by a similarly constructed aluminum rail system which runs the perimeter of the upper deck beginning and ending at the mid point of the fly bridge. No defects were noted.

VENTILATION:Cowl vents located to port and starboard provide passive ventilation for the engine and generator compartment. Cowls are flexible type and appear to be in good condition.

III. SYSTEMS



DECK FITTINGS (continued)DECKBOX:

Several white FRP deck boxes are provided for storage and sunning. A two seat box is located on the aft deck. Four large white FRP deck boxes are positioned up topside for sunning and entertaining. Full length white vinyl cushions accompany each box per the owner who produced one. The one cushion appeared to be in good condition, the other cushions were not inspected due to access.All five deck boxes were in good condition.

HATCHES:*C4Six opening hatches provide access to the forward hold, the center hold and engine compartment. The five exterior hatches providing access to the forward hold and engine compartment; have hydraulic lifting struts that are supposed to support the hatch when opened. However, the struts are worn and are no longer reliable. For safety, recommend removing the struts and fitting wooden poles to prop hatches open when in use. The interior hatches are lift out panels that are in excellent condition.

GRAB RAIL:Stainless steel hand rails line both sides of the super structure of the vessel. The material appears to be in good condition and was solidly mounted where tested.

CLEATS:Nine heavy 10" cleats are located four to port and five to the starboard side. All are welded to hull and are in serviceable condition.

SUPERSTRUCTUREMATERIAL:

*B2, C5The superstructure of the "Sample Survey" is comprised of 3/4" plywood covered with a layer of fiberglass cloth and gelcoat. The upper and lower sections are white, the windows are set into a band of glossy black paint which is framed from underneath by a light silver gray stripe and darker blue stripe. The surface condition of the superstructure is substantially different from port (sheltered) side to starboard (exposed) side. The white base is oxidized and in fair condition on both sides. The black paint is beginning to peel and flake in areas on the starboard side. Also on the starboard side and directly forward of the forward head, the fiberglass exterior is puffed up and wrinkled in the black section. The owner states that it flattens out again when temperatures drop.

WINDOWS/PORTS/DOORS:*C6Large opening windows line both sides of the superstructure and appear to be in good condition. Sliding glass doors are located at the fore and aft ends of the superstructure and provide access to the main salon and master stateroom respectively. A third sliding glass door is located to starboard of the primary helm and is in good condition. Indications of previous repairs to prevent water intrusion is present around the base of this door.

III. SYSTEMS



SUPERSTRUCTURE (continued)CANVAS AND SUPPORT STRUCTURE:

Canvas privacy screens for the upper and lower railings was not installed at the time of survey. Owner displayed a sample of it which appeared to be in good condition, but not all was inspected. Canvas for the bimini and party top were also not installed and are being stored inside the vessel for the winter. The owner showed samplings of them as well. They appeared to be in good condition, but were not fully inspected.

MOISTURE CONTENT:*B3, B4The windows along both sides appear to be in good working order, but their is evidence of prior repairs (caulking) being made to prevent or correct moisture intrusion on both sides with the starboard side being the worst. Moisture readings taken showed 'moist' to 'wet' below all windows on the starboard side. On the port side, the first and third full size windows from the bow indicated 'moist' immediately below the frames. Additional moisture was detected below the 'step' area of the roof transition on both sides of the vessel.

BRIDGE DECKMATERIAL:

FRP (fiber reinforced plastic) molded flybridge.TYPE:

Fly bridge provides a secondary helm station and seating area for the safe navigation of the vessel. The fly bridge was not accessible and not inspected during the survey due to access: Stacked deck boxes, weather covers and rope work tying everything down.

BIMINI:*C7Bimini frame and canvas were not installed at time of survey. Black canvas type material with stainless steel tubular support structure. The locking bolt that anchors the bimini frame to the flybriidge on the starboard side is missing. A large nail is currently being used in its place. Otherwise, the bimini and its hardware appeared to be in good condition.

WINDSHIELD:A cantilevered glass windshield surrounds the forward and side surfaces of the fly bridge. Appears to be in good condition.

ADDITIONAL EQUIPMENT AND ACCESSORIESGENERAL EQUIPMENT:

Radar arch is in fair condition. Noted previous repairs and previous FRP damage.ACCESSORIES:

Three ouutside tables , twelve good quality chairs and nine plastic chairs provide additional exterior seating on board the "Sample Survey". All appeared to be in good to like new condition.

III. SYSTEMS



ADDITIONAL EQUIPMENT AND ACCESSORIES (continued)FENDERS:

Eight Taylor-Made 'Big B' center rope fenders 12" x 34" are located around the vessel. Appear to be in very good condition.

DOCK LINES:Nine 5/8" dock lines with snubbers. All in serviceable condition.

PARTY TOP:*B5A well built and well secured aluminum framed party top provides shade for the portion of the upper deck just aft of the fly bridge. The canvas cover had been removed for winter storage and was not inspected. The structure was in very good condition. A mount for a ceiling fan is provided at center of the unit. Electrical wires that will provide power to the fan pass through holes in the mounting plate without chaffing protection.

CABIN APPOINTMENTSINTERIOR DESCRIPTION:

JOINERY AND FINISH:*C8The interior of the "Sample Survey" is predominantly lightly stained and varnished beadboard. Cabinetry in the galley, dining area and staterooms is covered in white Formica with accenting wooden trim. All surfaces appeared to be in good condition with exception of forward head and port bulkhead in the dining area which are fully described under "Water Intrusion Signs". The right hand cabinet door located above the Microwave has a loose hinge causing it to 'droop' when closed.

CABIN BRIGHT WORK:All surfaces, doors, counters, walls were in excellent condition. With exception of moisture damage noted in forward head, and in dining area immediately aft and below the dining area window. Distortion of the wood and flaking of the finish is present in these two areas though it is hard to discern.

INTERIOR BULKHEADS:The interior bulkheads were solid and well fitted where sighted.

WATER INTRUSION SIGNS:Evidence of previous water intrusion was noted in the forward head and to the bottom left below the dinette window. Active moisture penetration was noted by 'moist' readings taken with the moisture meter below the forward window in the main salon on the port side and below the dinette window on the port side. Moisture was also detected below all windows on the starboard side.

STORAGE AREAS:The cabinets, lockers, drawers, and shelving were adequate and well built where sighted.

III. SYSTEMS

CABIN APPOINTMENTS


INTERIOR DESCRIPTION: (continued)HEADLINERS:

*C9Headliner material in the salon, galley and staterooms appeared serviceable. There is evidence of prior moisture intrusion in the headliner of the forward head, at the forward starboard corner. Measured dry with moisture meter. Other prior damage was noted in the top of the cabinet above the refrigerator.

DOORWAYS:*C10Solid wood cabin and head doors throughout vessel. Louvered doors are provided for washer/dryer closet. All doorways functioned satisfactorily with the exception of the forward head door. The upper track hardware has separated from the door preventing it from operating smoothly and fully closing.

FABRIC AND CUSHIONS:Fabrics and furniture for berths, and main salon appears to be of good quality and in like new condition.

FLOOR AND WINDOW COVERINGS:Floor coverings are wood grain laminate throughout. Wooden Blinds are located throughout. All are newly installed.

ACCOMMODATIONS:Three sleeping berths (including the Master Stateroom) are provided. The forward stateroom is located above a smaller cuddy berth. A Queen size bed is provided for the master stateroom. Full size beds are provided in the other staterooms.

HEADS:Two heads are located onboard "Sample Survey". The first head is located immediately aft of the galley and is equipped with an Incinolet type Marine Sanitation Device and washstand with sink and mirror. The second head is a 'Hollywood' style with two doors that allow access from the companionway or the Master Stateroom. This head is equipped with a second Incinolet MSD, a walk-in shower, washstand with sink, mirror and medicine cabinet.

SHOWERS:The stand up shower enclosure in the aft head drains to the main stack. Operates and appears serviceable.

FAUCET FIXTURES:The faucet fixtures and sinks were operable in both heads and in the galley.

III. SYSTEMS

CABIN APPOINTMENTS


INTERIOR DESCRIPTION: (continued)LIGHT FIXTURES:

*C11An adequate array of lighting fixture both 12 volt and 110 volt AC type throughout the vessel. Both overhead adjustable spot type lights and fluorescent fixtures provide the vessel with good lighting flexibility.

SALON FURNISHINGS:Two burgundy leather sofas with accent cushions provide seating in the main salon. Both sofas appear to be in like new condition.

CABIN FURNISHINGS:All cabin furnishings appeared to be of good to high quality and in very good condition.

TELEVISIONS:None Sighted.

STEREO, ETC.:An older model component stereo system is installed below the kitchen counter. System includes record player, tuner, equalizer, amplifier and dual cassette deck. Did not test.

GALLEYLOCATION:

The galley is located to starboard in the aft portion of the main salon. It has good floor space and is well lit.

SINKS:Double basin stainless steel sink 20" x 32" in good condition.

REFRIGERATION:*B6General Electric TFX22R located in Galley. Appears to be in satisfactory condition. Owner reported that the icemaker does not work. No ID plate sighted.

STOVE/OVEN:*C12General Electric Freestanding Range / Oven - Unit appears original, powers up and appears to be in operating order. Noted Oven door handle is bent but still functions adequately. Bottom drawer pull appears to be twisted downwards on left side but remains functional as well.Model # J BP28G K3ADSerial # DA264379K

III. SYSTEMS

CABIN APPOINTMENTS


GALLEY (continued)MICROWAVE:

General Electric Microwave oven - Original to vessel. Appears to be in good condition. Powers up.Model # JVM140001Serial # AA958289S

DISHWASHER:Unknown manufacturer/model. No ID plate sighted. Operational per owner who stated that they never used it.

PROPULSIONMAIN ENGINES

TYPE:Two Volvo-Penta AQ211A V-8 gasoline engines.

SERIAL NUMBERS:Port EngineSerial # 4100112401Starboard EngineSerial # 4100112386

LABELS AND NOTICES:The engines were clean and all required labels appeared to be in place and readable.

HORSE POWER:210 Horsepower per www.marinepartseurope.com

NUMBER OF CYLINDERS:Eight (8) in a V configuration.

INDICATED HOURS:Port engine hours - 603.7Starboard engine hours - 599.9

THROTTLE CONTROLS:Micro Commander two station digital Throttle system. Located at both upper and lower helm stations. Appears operational.

FLAME ARRESTOR:Yes, USCG approved.

ENGINE MOUNTS AND BED:Engine mounts are bolted directly to aluminum stringers welded into the ships structure. Appear to be in good condition on both engines.

DRIP PANS:None Sighted. Engine fluid and loose debris falls into bilge area.

III. SYSTEMS

PROPULSION


MAIN ENGINES (continued)LUBRICATION:

Level and Condition: Appears serviceable. Filters: Engine mounted spin on/off canister type filters. Recommend that if the vessel is purchased, the oil and oil filters for both engines be serviced before the vessel is next underway.

VENTILATION:Power blowers with flex tubing appears adequate. Natural, flow ventilation provided by cowl vents.

BILGE BLOWERS:Power blower installed on starboard side. Powers up. Noted during inspection that the ducting had pulled away from the blower on the starboard side. Informed owner who reattached duct and ty-wrapped to secure it. Appears serviceable.

EXHAUST SYSTEM:Raw water cooled with cast iron risers and flexible connection to outdrive exhaust. Hose to pipe connections are double clamped where sighted and appear serviceable.

CONDITION AND DEFICIENCIES:Engines were winterized at the time of survey. Prospective buyer opted to not have them dewinterized and tested.

IGNITION PROTECTION:*A1Battery Charger on starboard bulkhead is wired into a conventional outlet. This is not satisfactory for an 'Ignition Protected' area. The outlet should be removed and the battery charger, if it is 'Ignition Protected' should be hardwired into the system. If the battery charger is not 'Ignition Protected' then the entire unit should be relocated forward of the engine compartment.

COOLING SYSTEMTYPE:

Freshwater type cooling with raw water cooled wet exhaust.RAW WATER STRAINERS:

None sighted.HOSES AND CLAMPS:

*C13Hoses single clamped and appear to be in satisfactory condition with the exception of the raw water intake hoses on each engine. Each of these hoses have tape wound around them near their connection to the impeller housing. Recommend removing this tape and if necessary replace hoses.

BELTS AND PULLEYS:Belts and pulley condition appears serviceable.

III. SYSTEMS

PROPULSION


COOLING SYSTEM (continued)SEACOCKS AND STRAINERS:

Only one active raw water in thru-hull was sited during the survey. This would be the gate valve controlled raw water in for the generator.

TRANSMISSIONSTYPE:

Volvo PentaPort sideModel# 868130Serial # 1101551844Starboard sideModel # 868130Serial # 1101551350

CONTROLS:Dual station MMC Micro CommanderPort engineModel # 00314Serial # 02415Starboard engineModel # 00314Serial # 02462

FUEL SYSTEMMAIN ENGINE(S) FUEL SYSTEM

FUEL TYPE:Gasoline.

MATERIAL:5052 Aluminum

NUMBER OF TANKS:Two (2)

TANKS CAPACITY:95 Gallons each per Manufacturers label

SECURED:Metal frame welded to hull stringers.

III. SYSTEMS

FUEL SYSTEM


MAIN ENGINE(S) FUEL SYSTEM (continued)LOCATION:

Fuel tanks are located against the forward bulkhead in the engine compartment to left and right of centerline.

MANUFACTURING LABEL:The ABYC required labels were present and sighted on the fuel tanks.

FILL PIPE LOCATIONS:Aft deck on centerline forward of center engine room hatch. Marked 'GAS'.

FILL PIPE GROUNDED:Appears to be properly grounded.

FILL PIPE MATERIAL:Type B1 USCG approved hose. Appears serviceable.

FILL PIPE FITTINGS:Fill deck fitting clearly marked as fuel type gasoline.

HOSE CONNECTIONS, CLAMPS:Double clamped where sighted, grade USCG type A1. Appears serviceable.

FUEL LINES AND FITTINGS:Grade USCG type A1. Appears serviceable where sighted.

VENT LOCATION:Not sighted.

SHUT-OFF VALVE:Ball valves located at tanks. Appeared serviceable.

ANTI-SIPHON VALVE:None Sighted.

FUEL FILTERS:Engine mounted spin on/off type. Recommend that if the vessel is purchased, the fuel filters for both engines be serviced before the vessel is next underway.

FUEL PUMP TO CARB HOSE:No, flexible hose sighted copper nickel type OEM manufacture supplied. Appears serviceable.

ELECTRICAL SYSTEMSELECTRICAL SYSTEM (D.C. SYSTEM)

VOLTAGE:Lead acid battery powered 12 volt system.

III. SYSTEMS

ELECTRICAL SYSTEMS


ELECTRICAL SYSTEM (D.C. SYSTEM) (continued)BATTERIES:

*B7, B8, C14Four batteries installed in three banks. One battery to port engine for starting, second battery to generator for starting. Two additional batteries tied to starboard engine for house (accessories) and starting. Batteries are all automotive type. Recommend replacement with deep cycle marine batteries as they fail.

PANEL:Overcurrent Protection: Bus type fuses and circuit breakers. Location: Helm and Main Electrical Panel on starboard bulkhead in companionway.

TYPE CONNECTORS:Round Lugs: Captive type, and spade lugs where sighted. Condition: Appears serviceable.

ROUTING/SUPPORT:Well supported and secured where sighted.

CHARGING SYSTEM:Alternators on main engines, and gasoline powered generator. Appears serviceable.

CHARGING SYSTEM (BATTERY CHARGER):Dytek Laboratories, Marine Grade battery charger located on starboard bulkhead of engine compartment.Model # GP-12-20Serial # 1730Output 12 Volt @ 20 Amps

CHARGING SYSTEM (ALTERNATOR):Engine mounted alternators. Appear serviceable rated at 14 Volts @ 50 Amps

OUTLETS:12 Volt outlet sighted in the helm station of cigarette socket type. Appeared serviceable.

TERMINAL BLOCKS:Plastic double sided terminal block with captive lugs, well mounted and supported where sighted.

ELECTRICAL SYSTEM (A.C. SYSTEM)SHORE POWER INLET:

*C15Single Marinco 50 Amp. Located on forward deck in starboard corner. Weather protected cover. Attempted, but could not remove shore power cable from this connector. Owner stated that he never removed the cable at that end. Consequently, the ship side connection of this power inlet was not inspected.

III. SYSTEMS

ELECTRICAL SYSTEMS


ELECTRICAL SYSTEM (A.C. SYSTEM) (continued)SHORE POWER:

Single 220 Volt/50 amp cable approximately 20' in length. Condition appears serviceable. Shore side connector in very good condition with no visible scorching or signs of overcurrent.

AC SOURCE SELECTOR SWITCH:Manual plastic slide type. Located in main electric panel.

MAIN BREAKER:100 Amp three pole breaker located in Main Electrical panel.

BRANCH BREAKERS:Branch breakers located in main electrical panel and appear to be accurately marked.

CIRCUIT LOAD MONITORS:Three meters provided in main electrical panel; Battery Voltage, AC Amperage and AC Voltage. Tested OK.

CONNECTIONS (TYPE):Not sighted.

WIRE TYPE (SIZE AND RATING):Size and rating, where sighted, appears well routed and supported, serviceable for intended use.

ROUTING:*A2, B9Well routed and supported where sighted with some exceptions noted. Noted no chafe protection where main electrical cable passes from forward hold to center hold on the starboard side.

OUTLETS:Tested all outlets for proper grounding and polarity. Found no defect.

POLARITY:The polarity was checked by myself at all outlets that I could find and proved normal.

GALVANIC ISOLATOR:None Sighted.

III. SYSTEMS

ELECTRICAL SYSTEMS


ELECTRICAL SYSTEM (A.C. SYSTEM) (continued)NOTE:

*A3Checked shore power cable to determine if their was any leakage of AC voltage into the water. Asked the owner to turn on as much equipment as possible with the boat mostly winterized. Meter indicated 0.1 amps. Asked the owner to shut everything he turned on down and meter dropped to 0.0 amps. Have contacted the owner to further investigate this issue on 10/26/2013.Met with Mr. Matherly again this afternoon(10/27/2013). Repeated the energize the boat exercise but could not duplicate the leakage of AC voltage into the water. Attempted several different readings. At this point must conclude that previous reading was false. Confirmed that the dock side shore power cord is only three wire with no safety ground. Examined the vessel's shore power cord and confirmed that it is indeed a properly wired four wire system. Two hot, one neutral and one safety ground. Explained to the owner that he needs to have the dock side shore power cord replaced with a proper four wire cable to be as safe as possible. He stated he understood and would do that if the boat did not sell.

GENERATORS AND INVERTERSTYPE:

Generator driven by gasoline powered internal combustion engine.MANUFACTURER:

WesterbekeModel# 12.5-BTG-614Engine Serial # 257831-C904Generator Serial # 7565

FUEL TYPE:Gasoline powered.

KILOWATT RATING:12.5 KW per ID Plate

VOLTAGE RATING:120/240 VAC

NUMBER OF CYLINDERS:Four (4)

INDICATED HOURS:760.6 per Meter mounted on Generator.

LOCATION:Engine compartment, on centerline forward.

III. SYSTEMS

ELECTRICAL SYSTEMS


GENERATORS AND INVERTERS (continued)FLUID LEVELS:

Coolant normal. Oil normal. Recommend that if vessel is purchased all fluids be renewed according to the manufactures recommended specifications as soon as possible.

COOLING SYSTEM:Closed coolant and raw water exhaust type.

FUEL SUPPLY:Fuel System: Engine mounted mechanical pump. Serviceable.

FUEL FILTER:None Sighted.

LUBRICATION SYSTEM:Engine mounted mechanical oil pump with spin on/off type filter.

EXHAUST SYSTEM:Aqua lift type FRP (fiber reinforced plastic). Raw water cooled with metal canister, flexible coupling sections single clamped where sighted. Appears serviceable otherwise.

FLAME ARRESTOR:Yes, USCG approved.

WARNING LABELS:The required labels appeared to be in place and readable.

DC/AC INVERTER:PROsine 3.0/12 Inverter / Charger installed at forward bulkhead in center hold.Model # 3.0/12Serial # 21514825

LOCATION & VENTILATION:*B10Inverter batteries are located in the forward hold against the aft bulkhead. The space is of adequate size, but is not ventilated.

INVERTER INPUT VOLTS/AMPS:120 Volts AC / 18 Amps

INVERTER OUTPUT VA/WATTS:12 Volts DC / 120 Amps

III. SYSTEMS

ELECTRICAL SYSTEMS


GENERATORS AND INVERTERS (continued)INVERTER BATTERIES:

*B11, B12, C16The ten inverter batteries are all 6 Volt DC Golf Cart batteries tied together to form five banks each consisting of two 6 volt batteries connected in series. The batteries are Exide GC-135 make and model. Six of the ten batteries are stored inside of a clear plastic tub, the other four have no spill containment at all. The batteries are not secured against movement, nor are the ungrounded terminals protected against accidental contact. The power leads connecting the batteries to the Inverter pass through the aluminum bulkhead, but are not properly protected against chaffing. Several batteries have loose hardware and are in need of service.

FRESH WATER SYSTEMFRESH WATER SYSTEM: (POTABLE WATER)

STORAGE TANKS:Two aluminum water tanks sized 29" x 29" x 22" with a calculated volume of 85 gallons each are located on centerline at the aft end of the center hold. Condition appears serviceable.

ACCESS:Access to tanks and valves appears adequate.

FILL PIPE LOCATION:Starboard side deck outboard of primary helm station.

VENT PIPE LOCATION:Top of tank. Overflow tube appears to drain into bilge.

ACCUMULATOR TANK:None Sighted.

PUMPS:*C17Shurflo 3.3 GPM 12 Volt DC Model # 2088-433-344

FILTERS:None Sighted.

HOSES AND CLAMPS:PVC pipe, and reinforced plastic tubing at various areas throughout vessel. Appears serviceable where sighted.

DOCK SIDE PRESSURE REGULATOR:None Sighted.

III. SYSTEMS

FRESH WATER SYSTEM


FRESH WATER SYSTEM (HOT WATER SYSTEM)TYPE:

A 110 Volt AC household type Hot Water heater is installed at the aft end of the center hold.MANUFACTURER:

Speed-O-Matic Hot Water heater. No ID plate visible. Estimate to have 17 Gallon capacityh. Appears to be in good condition.

PRESSURE RELIEF VALVE:Yes, bronze pressure relief valve installed on tank. Drains to bilge.

SANITATIONSANITATION (BLACK WATER)

MANUFACTURER:This vessel uses two Incinerator Toilets as Marine Sanitation Devices (Cl,ass III MSD's) both units appear to be in like new condition.The forward head uses a Model WB manufactured by Research Products/Blankenship.The aft head uses a Model WB/TR-III Incinolet manufactured by Research Products/Blankenbship.

NUMBER OF HEADS:Two (2) heads on vessel.

LOCATION OF HEADS:Both heads are located to starboard along companionway.

M.S.D TYPE USCG SYSTEM:Certification Type: MSD U.S.C.G. Type III. (Incinerators)

RAW WATER SUPPLY AND CLAMPS:*C18Existing through-hulls for raw water supply are still in place. Recommend that they be permanently capped off to prevent accidental flooding.

DISCHARGE HOSES AND CLAMPS:No longer used. Recommend removal and sanitization of area if required.

PUMP-OUT LOCATION:None

SANITATION (GREY WATER)BASINS, SHOWERS, HOSES AND CLAMPS:

A PVC drain system collects grey water from all locations on board and carries it to a drain stack located at the aft starboard corner of the center hold where it is dumped overboard. Appears serviceable where sighted.

III. SYSTEMS

STEERING SYSTEM


STEERING SYSTEMTYPE:

Sea Star Hydraulic Steering systemModel # BA135-8EM appears serviceable where sighted.

LOCATIONS:Primary helm station and fly bridge.

LINES AND FITTINGS:Reinforced flexible hose, with metallic fittings. Appears serviceable.

MOUNTING:Cylinder and ram actuator are well secured.

RUDDER POSITION INDICATOR:Kreuter (KM) brand LED style Rudder position indicator installed at primary helm station and at fly bridge per owner.

GROUND TACKLEGROUND TACKLE

ANCHORS:Two Danforth style anchors, one approximately 35 pounds located in forward hold. Second unit approximately 20 pounds located in deck box on aft deck. Both units appear to be in good condition.

RODE MATERIAL:Rode material does not convey with vessel per owner.

ELECTRONICS AND NAVIGATION EQUIPMENTELECTRONICS AND NAVIGATION EQUIPMENT

VHF:Uniden President VHF radio installed at helm. Powers up.

DEPTH SOUNDER:Lowrance 3400 digital depth gauge installed at primary helm station. Appears serviceable.

ANTENNAS:VHF antenna mounted to starboard side of fly bridge, appears to be in poor condition.

III. SYSTEMS

THRU-HULLS


THRU-HULLS:THRU-HULLS ABOVE WATER LINE (DIAGRAM):

Abbreviation Description BP Bilge Pumps DD Deck Drain DF Deck Fill EP Exhst Ports Stack Drain Stack W/D Washer Dryer**Red Icon(s) with white text indicates inoperable item.

III. SYSTEMS

THRU-HULLS


THRU-HULLS: (continued)THRU-HULLS BELOW WATER LINE (DIAGRAM):

Abbreviation Description Disch Main Grey Discharge ENGINE Engine GEN Generator GV Gate Valve Head Head - Raw Water In TD Transducer**Red Icon(s) with white text indicates inoperable item.

NOTE:All below the water line thru-hulls with the exception of the generator raw water input are stand-pipes without any type of valve. Recommend that all of these unused thru-hulls be permanently capped to prevent accidental flooding.

GALVANIC ISOLATION:None Sighted.

III. SYSTEMS

SAFETY EQUIPMENT


SAFETY EQUIPMENT (UNITED STATES COAST GUARD)NUMBER AND TYPE OF PFD'S:

*C19Located approximately 25 Personal Flotation Devices (PFDs) in center hold below primary helm station. Appear to be in fair to like new condition.

NUMBER OF THROWABLE PFD'S:Three (3) Type IV-U.S.C.G. approved throwable devices on board. Life rings located to starboard on forward deck and to port and starboard on aft deck. All appear to be in very good condition.

FIRE EXTINGUISHERS:Three (3) Size: Two BI dry chemical with gauges. Location: Main salon cabin at helm, and engine room. In galley adjacent to buffet, lower stateroom and in Master Stateroom. Units at main helm, and in galley have depleted charge. Other two units appear serviceable.

VISUAL DISTRESS SIGNALS:None sighted.

SOUND DEVICES:Ship's bell located on forward deck. Electric powered horn located to starboard at primary helm and at fly bridge. Operate satisfactorily.

FLAME ARRESTORS:Yes, USCG approved.

POWER EXHAUST BLOWERS:Yes, operable.

NAVIGATION LIGHTS:*A4Sidelights are operable.Mast head light is operable.All-round light is inoperable.Sternlight is operable.

INLAND NAVIGATION RULE BOOK (12M-39'4" OR LONGER):*C20Not sighted.

"NO OIL DISCHARGE" PLAQUE:*C21None Sighted.

III. SYSTEMS

SAFETY EQUIPMENT


SAFETY EQUIPMENT (UNITED STATES COAST GUARD) (continued)TRASH DISPOSAL PLACARD:

*C22None sighted.

FCC STATION LICENSE (VHF EQUIPPED ONLY):*C23None Sighted.

WASTE MANAGEMENT PLAN (OVER 40'): None Sighted.

FCC STATION LICENSE:No. Note: Must provide FCC station license to comply with USCG regulations.

AUXILIARY SAFETY EQUIPMENTSMOKE DETECTOR:

*A5None Sighted.

FIXED FIRE EXTINGUISHING SYSTEM (HALON TYPE):*A6Kidde Fyre Watch automatic Halon 1211 fire extinguishing system installed. Did not test. Gauge on Halon bottle indicates depleted charge.

SEARCH LIGHT:Searchlight with remote control installed forward on upper deck. Remote control located at primary helm station. Fully operational per owner.

FIRST AID KIT:Located beneath sink in forward head.

FUME SNIFFER ALARM SYSTEMS:Marine Technologies SA-1A Gas Vapor Detector system installed at primary helm station. Did not test.

CARBON MONOXIDE DETECTORS:*A7No Carbon Monoxide (CO) detectors is installed.

III. SYSTEMS

SAFETY EQUIPMENT


BILGE PUMPSLIST:

*C24Rule 1500 bilge pump installed in engine compartment at aft centerline. Pumps overboard through transom. Powered up when activated manually.Boat Mate 1350 GPH bilge pump installed at aft end of center hold on centerline. Pumps to starboard through topside thru-hull. Powered up when activated manually.Neither bilge pump is configured to start and run automatically. Recommend replacement with automatic style pumps or addition of float switches and required additional wiring to make systems automatic.

AIR CONDITIONING AND HEAT (AIR CONDITIONING)AIR CONDITIONING AND HEAT (HEAT)

TYPE:TRANE XE900 Heat Pump system installed. Units are dated to appear original to vessel. System is operational per owner.Outside Condenser unit (Located on aft deck)Model # TWD724B100A0Serial # D07257570Inside Evaporator unit (located in center hold forward of cuddy berth)Model # TWH724B140A0Serial # D16352068

HOSES, CLAMPS AND CONNECTORS:Appears serviceable where sighted.

IV. FINDINGS AND RECOMMENDATIONS


Deficiencies noted under ''SAFETY'' should be addressed before vessel is next underway. These findings represent an endangerment to personnel and/or the vessel's safe and proper operating condition. Findings may also be in violation of U.S.C.G. regulations.Deficiencies noted under ''OTHER DEFICIENCIES'' should be corrected in the near future so as to maintain standards and to help the vessel to retain it's value.Deficiencies will be listed under the appropriate heading: A. SAFETY DEFICIENCIES B. OTHER DEFICIENCIES NEEDING ATTENTION

C. SURVEYORS NOTES AND OBSERVATIONSA. SAFETY DEFICIENCIES:

A.1 (PAGE 15) IGNITION PROTECTION:Battery Charger on starboard bulkhead is wired into a conventional outlet. This is not satisfactory for an 'Ignition Protected' area. The outlet should be removed and the battery charger, if it is 'Ignition Protected' should be hardwired into the system. If the battery charger is not 'Ignition Protected' then the entire unit should be relocated forward of the engine compartment.

FINDINGS RECOMMENDATIONSBattery Charger on starboard bulkhead is wired into a conventional outlet. This is not satisfactory for an 'Ignition Protected' area. The battery charger itself is marine grade, but is not marked 'Ignition Protected'

The outlet should be removed and the battery charger, if it is 'Ignition Protected' should be hardwired into the system. If the battery charger is not 'Ignition Protected' then the entire unit should be relocated forward of the engine compartment. Either way, the outlet should be removed from the engine compartment.

A.2 (PAGE 19) ROUTING:Well routed and supported where sighted with some exceptions noted. Noted no chafe protection where main electrical cable passes from forward hold to center hold on the starboard side.

FINDINGS RECOMMENDATIONSNo chafe protection present where main electrical power cable passes from forward hold to center hold on the starboard side.Showed area to owner and explained problem and needed repair.

Install chafe guard over aluminum edge to prevent damage to power cable.



A. SAFETY DEFICIENCIES:A.3 (PAGE 20) NOTE:Checked shore power cable to determine if their was any leakage of AC voltage into the water. Asked the owner to turn on as much equipment as possible with the boat mostly winterized. Meter indicated 0.1 amps. Asked the owner to shut everything he turned on down and meter dropped to 0.0 amps. Have contacted the owner to further investigate this issue on 10/26/2013.Met with Mr. Matherly again this afternoon(10/27/2013). Repeated the energize the boat exercise but could not duplicate the leakage of AC voltage into the water. Attempted several different readings. At this point must conclude that previous reading was false. Confirmed that the dock side shore power cord is only three wire with no safety ground. Examined the vessel's shore power cord and confirmed that it is indeed a properly wired four wire system. Two hot, one neutral and one safety ground. Explained to the owner that he needs to have the dock side shore power cord replaced with a proper four wire cable to be as safe as possible. He stated he understood and would do that if the boat did not sell.

FINDINGS RECOMMENDATIONSChecked shore power cable to determine if their was any leakage of AC voltage into the water. Asked the owner to turn on as much equipment as possible with the boat mostly winterized. Meter indicated 0.1 amps. Asked the owner to shut everything he turned on down and meter dropped to 0.0 amps.

Have contacted the owner to further investigate this issue on 10/26/2013.Met with Mr. Matherly again this afternoon (10/27/2013). Repeated the energize the boat exercise but could not duplicate the leakage of AC voltage into the water. Confirmed that the dock side shore power cord is only three wire. No safety ground. Examined the vessel's shore power cord and confirmed that it is indeed a properly wired four wire system. Two hot, one neutral and one safety ground. Explained to the owner that he needs to have the dock side shore power cord replaced with a proper four wire cable. He stated he understood and would do that if the boat did not sell.

A.4 (PAGE 27) NAVIGATION LIGHTS:Sidelights are operable.Mast head light is operable.All-round light is inoperable.Sternlight is operable.

FINDINGS RECOMMENDATIONSAll-round light is inoperable. Repair as required.



A. SAFETY DEFICIENCIES:A.5 (PAGE 28) SMOKE DETECTOR:None Sighted.

FINDINGS RECOMMENDATIONSNo smoke detectors installed. Recommend smoke detector be installed in

each sleeping compartment. Test regularly once intalled.

A.6 (PAGE 28) FIXED FIRE EXTINGUISHING SYSTEM (HALON TYPE):Kidde Fyre Watch automatic Halon 1211 fire extinguishing system installed. Did not test. Gauge on Halon bottle indicates depleted charge.

FINDINGS RECOMMENDATIONSEngine Halon 1211 bottle indicates depleted charge.

Renew or replace bottle to rearm system. Inspect on a regular basis thereafter.

A.7 (PAGE 28) CARBON MONOXIDE DETECTORS:No Carbon Monoxide (CO) detectors is installed.

FINDINGS RECOMMENDATIONSNo Carbon Monoxide (CO) detectors is installed.

Install CO detectors in sleeping quarters and test on a regular basis once installed.



B. OTHER DEFICIENCIES NEEDING ATTENTION:B.1 (PAGE 8) TYPE:The exterior main deck of the vessel is made of sheet aluminum covered with a medium gray carpeting. The carpet is in very good condition in all areas except the ladder leading from the primary helm to the upper deck. At that location, the carpeting is worn on the edges of the stair risers and at the landing adjacent to the primary helm.The interior main deck of the vessel is comprised of 3/4 inch plywood covered with a high quality laminate flooring. Wood variety appears to be cherry, the decking appears to be well installed with mitered frames surrounding the inset hatches that provide access to the hold. The overall condition of the floor is like new.The upper deck of the |LVN runs the full length of the vessel with a slight step down at about midway between the bow and stern. The gelcoat appears fairly new but numerous chips were noted. The owner stated that he gelcoats the boat himself every two or three years and reported that he gelcoated last year (2012) and that while pressure washing this year he chipped the gelcoat in several small areas. These chips number about fifteen to twenty and range in size from about 1/4 inch to about 1 inch in diameter. The deck in the fly bridge could not be inspected due to the equipment stacked and tied down against the fly bridge. No soft spots were detected in any portion of the accessible decking. No significant moisture penetration appeared at the time of inspection, and no evidence of current leakage from the upper deck is visible from the interior of the vessel.

FINDINGS RECOMMENDATIONSUpper deck gelcoat chipped in several small areas. These chips number about fifteen to twenty and range in size from about 1/4 inch to about 1 inch in diameter.

Repair and renew gelcoat as required and as soon as possible to prevent damage to underlaying materials.



B. OTHER DEFICIENCIES NEEDING ATTENTION:B.2 (PAGE 9) MATERIAL:The superstructure of the |LVN is comprised of 3/4" plywood covered with a layer of fiberglass cloth and gelcoat. The upper and lower sections are white, the windows are set into a band of glossy black paint which is framed from underneath by a light silver gray stripe and darker blue stripe. The surface condition of the superstructure is substantially different from port (sheltered) side to starboard (exposed) side. The white base is oxidized and in fair condition on both sides. The black paint is beginning to peel and flake in areas on the starboard side. Also on the starboard side and directly forward of the forward head, the fiberglass exterior is puffed up and wrinkled in the black section. The owner states that it flattens out again when temperatures drop.

FINDINGS RECOMMENDATIONSOn the starboard side and directly forward of the forward head window, the fiberglass exterior panel is puffed up and wrinkled in the black painted section. The owner states that it flattens out again when temperatures drop. Suspect that the internal plywood laminations have separated due to the previous moisture damage.

Recommend that the area be evaluated by a shipwright or other qualified repair person to determine full extent of damage and proper repair method.

B.3 (PAGE 10) MOISTURE CONTENT:The windows along both sides appear to be in good working order, but their is evidence of prior repairs (caulking) being made to prevent or correct moisture intrusion on both sides with the starboard side being the worst. Moisture readings taken showed 'moist' to 'wet' below all windows on the starboard side. On the port side, the first and third full size windows from the bow indicated 'moist' immediately below the frames. Additional moisture was detected below the 'step' area of the roof transition on both sides of the vessel.

FINDINGS RECOMMENDATIONSWindow flashing/seals appear to be separating from the exterior bulkhead surface. Caulking previously applied appears to be at end of life allowing moisture to seep in behind the window and flow down into the plywood substrate. This issue is predominantly on the starboard side.

Recommend that the area be evaluated by a shipwright or other qualified repair person to determine full extent of damage and proper repair method.



B. OTHER DEFICIENCIES NEEDING ATTENTION:B.4 (PAGE 10) MOISTURE CONTENT:The windows along both sides appear to be in good working order, but their is evidence of prior repairs (caulking) being made to prevent or correct moisture intrusion on both sides with the starboard side being the worst. Moisture readings taken showed 'moist' to 'wet' below all windows on the starboard side. On the port side, the first and third full size windows from the bow indicated 'moist' immediately below the frames. Additional moisture was detected below the 'step' area of the roof transition on both sides of the vessel.

FINDINGS RECOMMENDATIONSMoisture readings taken on starboard side indicate moist across most of starboard side below the windows. On the port side, the first and third full size windows from the bow indicated 'moist' immediately below the frames. Additional readings indicating moisture were detected below the 'step' areas of the roof transition on both sides of the vessel.

Recommend that the areas be evaluated by a shipwright or other qualified repair person to determine full extent of damage and proper repair method.

B.5 (PAGE 11) PARTY TOP:A well built and well secured aluminum framed party top provides shade for the portion of the upper deck just aft of the fly bridge. The canvas cover had been removed for winter storage and was not inspected. The structure was in very good condition. A mount for a ceiling fan is provided at center of the unit. Electrical wires that will provide power to the fan pass through holes in the mounting plate without chaffing protection.

FINDINGS RECOMMENDATIONSCeiling fan installation in Party Top - Electrical wires that will provide power to the fan pass through holes in the metal mounting plate are without chaffing protection.

Install necessary materials to prevent chaffing and protect wiring.

B.6 (PAGE 13) REFRIGERATION:General Electric TFX22R located in Galley. Appears to be in satisfactory condition. Owner reported that the icemaker does not work. No ID plate sighted.

FINDINGS RECOMMENDATIONSRefrigerator ice maker is inoperative per owner.

Repair/replace as required.



B. OTHER DEFICIENCIES NEEDING ATTENTION:B.7 (PAGE 18) BATTERIES:Four batteries installed in three banks. One battery to port engine for starting, second battery to generator for starting. Two additional batteries tied to starboard engine for house (accessories) and starting. Batteries are all automotive type. Recommend replacement with deep cycle marine batteries as they fail.

FINDINGS RECOMMENDATIONSEngine and Generator starting and accessory batteries located in engine compartment are not properly secured against movement.

Secure batteries to prevent movement in accordance with CFR 183.420 (a)

B.8 (PAGE 18) BATTERIES:Four batteries installed in three banks. One battery to port engine for starting, second battery to generator for starting. Two additional batteries tied to starboard engine for house (accessories) and starting. Batteries are all automotive type. Recommend replacement with deep cycle marine batteries as they fail.

FINDINGS RECOMMENDATIONSEngine and Generator starting and accessory batteries located in engine compartment utilize spring tension clamps to secure wires to terminal lugs.

Replace spring tension clamps with conventional terminal lugs to comply with CFR 183.420 (g)

B.9 (PAGE 19) ROUTING:Well routed and supported where sighted with some exceptions noted. Noted no chafe protection where main electrical cable passes from forward hold to center hold on the starboard side.

FINDINGS RECOMMENDATIONSUnused AC wire noted at aft end of engine compartment against transom that is not properly terminated and hanging loosely.

Investigate, identify wire and properly terminate.

B.10 (PAGE 21) LOCATION & VENTILATION:Inverter batteries are located in the forward hold against the aft bulkhead. The space is of adequate size, but is not ventilated.

FINDINGS RECOMMENDATIONSInverter Batteries are stored in a non ventilated space.

Provide proper ventilation to comply with CFR 183.420 (e)



B. OTHER DEFICIENCIES NEEDING ATTENTION:B.11 (PAGE 22) INVERTER BATTERIES:The ten inverter batteries are all 6 Volt DC Golf Cart batteries tied together to form five banks each consisting of two 6 volt batteries connected in series. The batteries are Exide GC-135 make and model. Six of the ten batteries are stored inside of a clear plastic tub, the other four have no spill containment at all. The batteries are not secured against movement, nor are the ungrounded terminals protected against accidental contact. The power leads connecting the batteries to the Inverter pass through the aluminum bulkhead, but are not properly protected against chaffing. Several batteries have loose hardware and are in need of service.

FINDINGS RECOMMENDATIONSInverter batteries are not secured against movement.

Secure batteries to comply with CFR 183.420 (a)

B.12 (PAGE 22) INVERTER BATTERIES:The ten inverter batteries are all 6 Volt DC Golf Cart batteries tied together to form five banks each consisting of two 6 volt batteries connected in series. The batteries are Exide GC-135 make and model. Six of the ten batteries are stored inside of a clear plastic tub, the other four have no spill containment at all. The batteries are not secured against movement, nor are the ungrounded terminals protected against accidental contact. The power leads connecting the batteries to the Inverter pass through the aluminum bulkhead, but are not properly protected against chaffing. Several batteries have loose hardware and are in need of service.

FINDINGS RECOMMENDATIONSThe ungrounded terminals of the Inverter batteries are not protected.

Install protective covers over ungrounded terminals to comply with CFR 183.420 (b)

C. SURVEYOR'S NOTES AND OBSERVATIONS:C.1 (PAGE 7) BILGE:Bilge area in all compartments was basically dry. Some dirt and debris noted in all locations. Recommend cleaning as soon as possible.

FINDINGS RECOMMENDATIONSBilge area in all compartments was basically dry. Some dirt and debris noted in all locations.

Recommend inspection and cleaning on a regular basis.



C. SURVEYOR'S NOTES AND OBSERVATIONS:C.2 (PAGE 7) <User Define>The design of the vessel includes a swim platform which is created by extending the fantail out over the outdrives several feet. This creates an excellent swim area. It also creates the potential for carbon monoxide to get trapped underneath the platform. It is recommended that swimmers be advised of this potential danger and avoid swimming under and surfacing under the platform.

FINDINGS RECOMMENDATIONSThe design of the vessel includes a swim platform which is created by extending the fantail out over the outdrives several feet. This creates an excellent swim area. It also creates the potential for carbon monoxide to get trapped underneath the platform.

It is recommended that swimmers be advised of this potential danger and avoid swimming under and surfacing under the platform.

C.3 (PAGE 8) TYPE:The exterior main deck of the vessel is made of sheet aluminum covered with a medium gray carpeting. The carpet is in very good condition in all areas except the ladder leading from the primary helm to the upper deck. At that location, the carpeting is worn on the edges of the stair risers and at the landing adjacent to the primary helm.The interior main deck of the vessel is comprised of 3/4 inch plywood covered with a high quality laminate flooring. Wood variety appears to be cherry, the decking appears to be well installed with mitered frames surrounding the inset hatches that provide access to the hold. The overall condition of the floor is like new.The upper deck of the |LVN runs the full length of the vessel with a slight step down at about midway between the bow and stern. The gelcoat appears fairly new but numerous chips were noted. The owner stated that he gelcoats the boat himself every two or three years and reported that he gelcoated last year (2012) and that while pressure washing this year he chipped the gelcoat in several small areas. These chips number about fifteen to twenty and range in size from about 1/4 inch to about 1 inch in diameter. The deck in the fly bridge could not be inspected due to the equipment stacked and tied down against the fly bridge. No soft spots were detected in any portion of the accessible decking. No significant moisture penetration appeared at the time of inspection, and no evidence of current leakage from the upper deck is visible from the interior of the vessel.

FINDINGS RECOMMENDATIONSCarpeting worn at forward ladder and at landing adjacent to primary helm station.

Replace carpeting.



C. SURVEYOR'S NOTES AND OBSERVATIONS:C.4 (PAGE 9) HATCHES:Six opening hatches provide access to the forward hold, the center hold and engine compartment. The five exterior hatches providing access to the forward hold and engine compartment; have hydraulic lifting struts that are supposed to support the hatch when opened. However, the struts are worn and are no longer reliable. For safety, recommend removing the struts and fitting wooden poles to prop hatches open when in use. The interior hatches are lift out panels that are in excellent condition.

FINDINGS RECOMMENDATIONSHatch hydraulic lifting struts are worn and are no longer reliable.

For safety, recommend either replacing the struts or removing them completely and fitting wooden poles to prop hatches open when in use.

C.5 (PAGE 9) MATERIAL:The superstructure of the |LVN is comprised of 3/4" plywood covered with a layer of fiberglass cloth and gelcoat. The upper and lower sections are white, the windows are set into a band of glossy black paint which is framed from underneath by a light silver gray stripe and darker blue stripe. The surface condition of the superstructure is substantially different from port (sheltered) side to starboard (exposed) side. The white base is oxidized and in fair condition on both sides. The black paint is beginning to peel and flake in areas on the starboard side. Also on the starboard side and directly forward of the forward head, the fiberglass exterior is puffed up and wrinkled in the black section. The owner states that it flattens out again when temperatures drop.

FINDINGS RECOMMENDATIONSThe black paint is beginning to peel and flake in areas on the starboard side.

Properly prepare surface and renew paint.

C.6 (PAGE 9) WINDOWS/PORTS/DOORS:Large opening windows line both sides of the superstructure and appear to be in good condition. Sliding glass doors are located at the fore and aft ends of the superstructure and provide access to the main salon and master stateroom respectively. A third sliding glass door is located to starboard of the primary helm and is in good condition. Indications of previous repairs to prevent water intrusion is present around the base of this door.

FINDINGS RECOMMENDATIONSSuspect previous moisture intrusion has occurred at the sliding doorway adjacent to the primary helm station. Area is currently dry and not problematic.

Recommend monitoring for any future water intrusion.



C. SURVEYOR'S NOTES AND OBSERVATIONS:C.7 (PAGE 10) BIMINI:Bimini frame and canvas were not installed at time of survey. Black canvas type material with stainless steel tubular support structure. The locking bolt that anchors the bimini frame to the flybriidge on the starboard side is missing. A large nail is currently being used in its place. Otherwise, the bimini and its hardware appeared to be in good condition.

FINDINGS RECOMMENDATIONSThe locking bolt that anchors the bimini frame to the flybriidge on the starboard side is missing. A large nail is currently being used in its place.

Obtain missing hardware and install.

C.8 (PAGE 11) JOINERY AND FINISH:The interior of the |LVN is predominantly lightly stained and varnished beadboard. Cabinetry in the galley, dining area and staterooms is covered in white Formica with accenting wooden trim. All surfaces appeared to be in good condition with exception of forward head and port bulkhead in the dining area which are fully described under "Water Intrusion Signs". The right hand cabinet door located above the Microwave has a loose hinge causing it to 'droop' when closed.

FINDINGS RECOMMENDATIONSThe right hand cabinet door located above the Microwave has a loose hinge causing it to 'droop' when closed.

Adjust or replace hinge hardware as required, Recommended Rockler as possible source for replacment hinge to owner.

C.9 (PAGE 12) HEADLINERS:Headliner material in the salon, galley and staterooms appeared serviceable. There is evidence of prior moisture intrusion in the headliner of the forward head, at the forward starboard corner. Measured dry with moisture meter. Other prior damage was noted in the top of the cabinet above the refrigerator.

FINDINGS RECOMMENDATIONSThere is evidence of prior moisture intrusion in the headliner of the forward head, at the forward starboard corner. Measured dry with moisture meter. Other prior damage was noted in the top of the cabinet above the refrigerator.

Recommend monitoring these areas frequently to insure they remain dry.

C.10 (PAGE 12) DOORWAYS:Solid wood cabin and head doors throughout vessel. Louvered doors are provided for washer/dryer closet. All doorways functioned satisfactorily with the exception of the forward head door. The upper track hardware has separated from the door preventing it from operating smoothly and fully closing.

FINDINGS RECOMMENDATIONSForward head door - The upper track hardware has separated from the door preventing it from operating smoothly and fully closing.

Repair as needed.



C. SURVEYOR'S NOTES AND OBSERVATIONS:C.11 (PAGE 13) LIGHT FIXTURES:An adequate array of lighting fixture both 12 volt and 110 volt AC type throughout the vessel. Both overhead adjustable spot type lights and fluorescent fixtures provide the vessel with good lighting flexibility.

FINDINGS RECOMMENDATIONSDC ceiling lamp in companionway is inoperative.

Investigate and repair as required.

C.12 (PAGE 13) STOVE/OVEN:General Electric Freestanding Range / Oven - Unit appears original, powers up and appears to be in operating order. Noted Oven door handle is bent but still functions adequately. Bottom drawer pull appears to be twisted downwards on left side but remains functional as well.Model # J BP28G K3ADSerial # DA264379K

FINDINGS RECOMMENDATIONSOven door handle is bent but still functions adequately. Bottom drawer pull appears to be twisted downwards on left side but remains functional as well.

Repair or replace handles if desired.

C.13 (PAGE 15) HOSES AND CLAMPS:Hoses single clamped and appear to be in satisfactory condition with the exception of the raw water intake hoses on each engine. Each of these hoses have tape wound around them near their connection to the impeller housing. Recommend removing this tape and if necessary replace hoses.

FINDINGS RECOMMENDATIONSThe raw water intake hoses on each engine both have tape wound around them near their connection to the impeller housing. Recommend removing this tape and if necessary replace hoses.

Recommend removing this tape, inspect the hoses and if necessary replace hoses.

C.14 (PAGE 18) BATTERIES:Four batteries installed in three banks. One battery to port engine for starting, second battery to generator for starting. Two additional batteries tied to starboard engine for house (accessories) and starting. Batteries are all automotive type. Recommend replacement with deep cycle marine batteries as they fail.

FINDINGS RECOMMENDATIONSEngine and Generator starting and accessory batteries located in engine compartment are not properly contained to prevent leakage of battery acid.

Recommend placing all batteries into spill-proof acid resistant containers.



C. SURVEYOR'S NOTES AND OBSERVATIONS:C.15 (PAGE 18) SHORE POWER INLET:Single Marinco 50 Amp. Located on forward deck in starboard corner. Weather protected cover. Attempted, but could not remove shore power cable from this connector. Owner stated that he never removed the cable at that end. Consequently, the ship side connection of this power inlet was not inspected.

FINDINGS RECOMMENDATIONSAttempted, but could not remove the shore power cable from boat side connector for inspection.

Investigate, remove, inspect and repair connectos as needed.

C.16 (PAGE 22) INVERTER BATTERIES:The ten inverter batteries are all 6 Volt DC Golf Cart batteries tied together to form five banks each consisting of two 6 volt batteries connected in series. The batteries are Exide GC-135 make and model. Six of the ten batteries are stored inside of a clear plastic tub, the other four have no spill containment at all. The batteries are not secured against movement, nor are the ungrounded terminals protected against accidental contact. The power leads connecting the batteries to the Inverter pass through the aluminum bulkhead, but are not properly protected against chaffing. Several batteries have loose hardware and are in need of service.

FINDINGS RECOMMENDATIONSFour of the ten Inverter batteries are not in spill proof containers to prevent leakage of battery acid.

Recommend placing all batteries in acid-resistant containers to prevent spillage of battery acid.

C.17 (PAGE 22) PUMPS:Shurflo 3.3 GPM 12 Volt DC Model # 2088-433-344

FINDINGS RECOMMENDATIONSWater pump has a wire nut making electrical connection instead of a proper crimp-on splice.

Remove wire nut and replace with crimp-on style splicing connector.

C.18 (PAGE 23) RAW WATER SUPPLY AND CLAMPS:Existing through-hulls for raw water supply are still in place. Recommend that they be permanently capped off to prevent accidental flooding.

FINDINGS RECOMMENDATIONSExisting through-hulls for raw water supply to heads are single clamped and still in place but unused.

Recommend that they be permanently capped off to prevent accidental flooding.



C. SURVEYOR'S NOTES AND OBSERVATIONS:C.19 (PAGE 27) NUMBER AND TYPE OF PFD'S:Located approximately 25 Personal Flotation Devices (PFDs) in center hold below primary helm station. Appear to be in fair to like new condition.

FINDINGS RECOMMENDATIONSLocated approximately 25 Personal Flotation Devices (PFDs) in center hold below primary helm station.

PFD's should remain immediately available when underway. Recommend relocation of a number of PFD's to main salon.

C.20 (PAGE 27) INLAND NAVIGATION RULE BOOK (12M-39'4" OR LONGER):Not sighted.

FINDINGS RECOMMENDATIONSInland Navigation Rule book not sighted. Provide Inland Navigation Rule book to

comply with CFR 88.05C.21 (PAGE 27) "NO OIL DISCHARGE" PLAQUE:None Sighted.

FINDINGS RECOMMENDATIONS"No Oil Discharge" placard not sighted in engine compartment.

Provide USCG ''No Oil Discharge'' placard to comply with CFR 155.770.

C.22 (PAGE 28) TRASH DISPOSAL PLACARD:None sighted.

FINDINGS RECOMMENDATIONSNo 'Trash Disposal Placard' sighted. Provide 'Trash Disposal Placard' to comply

with CFR 151.59C.23 (PAGE 28) FCC STATION LICENSE (VHF EQUIPPED ONLY):None Sighted.

FINDINGS RECOMMENDATIONSNo VHF Station License sighted. Provide FCC Station License.



C. SURVEYOR'S NOTES AND OBSERVATIONS:C.24 (PAGE 29) LIST:Rule 1500 bilge pump installed in engine compartment at aft centerline. Pumps overboard through transom. Powered up when activated manually.Boat Mate 1350 GPH bilge pump installed at aft end of center hold on centerline. Pumps to starboard through topside thru-hull. Powered up when activated manually.Neither bilge pump is configured to start and run automatically. Recommend replacement with automatic style pumps or addition of float switches and required additional wiring to make systems automatic.

FINDINGS RECOMMENDATIONSNeither bilge pump is configured to start and run automatically. Recommend replacement with automatic style pumps or addition of float switches and required additional wiring to make systems automatic.

Recommend replacement with automatic style pumps or addition of float switches and required additional wiring to make systems automatic.

V. SUMMARY AND VALUATION


STATEMENT OF OVERALL VESSEL RATING OF CONDITION:It is the surveyor's training and experience that develops an opinion of the OVERALL VESSEL RATING OF CONDITION after the survey has been completed and the findings have been organized in a logical manner.The grading of condition, developed by BUC RESEARCH, and accepted in the marine industry, for a vessel at the time of survey, determines the adjustment to the range of base values in the BUC USED BOAT PRICE GUIDE, for a similar vessel sold within a given time period, as a consideration to determine the Market Value.The following is the accepted marine grading system of condition. (Source: BUC website.)''EXCELLENT (BRISTOL) CONDITION'' - Maintained in mint or bristol fashion - usually better than factory new - and loaded with extras - a rarity.''ABOVE AVERAGE (BUC) CONDITION'' - Has had above average care and equipped with extra electrical and electronic gear.''AVERAGE (BUC) CONDITION'' - Ready for sale requiring no additional work and normally equipped for its size.''FAIR CONDITION'' - Requires usual maintenance to prepare for sale.''POOR CONDITION'' - Substantial yard work required and devoid of extras.''RESTORABLE CONDITION'' - Enough of hull and engine exists to restore the boat to usable condition.As a result of my investigation, as shown in the SYSTEMS AND FINDINGS AND RECOMMENDATIONS section of this REPORT OF SURVEY, and by virtue of my experience and training it is my opinion that the "Sample Survey" should be considered to have an

OVERALL VESSEL RATING:AVERAGE (BUC)



STATEMENT OF VALUATION:1. 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, knowledgeably and assuming the price is not affected by undue stimulus.Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:a. Buyer and seller are typically motivated.b. Both parties are well informed or well advised, and each acting in what they consider their own best interest.c. A reasonable time is allowed for exposure in the open market.d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; ande. The price represents a normal consideration for the vessel sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.APPRAISAL METHODOLOGY:The following method of valuation was used to obtain the FAIR MARKET VALUE (FMV) of the vessel. A query was submitted to Soldboats.com for boats matching the description of a 1989 Sumerset 78' Houseboat with dual I/O engines. The data returned did not contain any recent sales of 'Comparable' boats. BUC.com was also queried and returned no data for the vessel age and size requested. Web searches of several Houseboat broker web pages revealed the following comparable houseboats:Location Year MFR Beam x Length List Price WB Value Adj. Adj List Price NotesTN 1985 Sumerset 14 x 77 $85,000 $10,000 $95,000 With Catwalks- Effectively reduces beam to 12'KY 1992 Sumerset 14 x 67 $107,268 0 $107,268 WidebodyKY 1991 Stardust 16 x 66 $129,900 0 $129,900 With Catwalks- Effectively reduces beam to 14'TN 1989 Stardust 14 x 62 $79,000 0 $79,000 WidebodyKY 1986 Sumerset 14 x 72 $99,500 $10,000 $109,500 With Catwalks- Effectively reduces beam to 12'Average adjusted Listing price $104,133Assumed cost to Transport Boat onto Watauga Lake from KY $10,000Adjusted Market List Price $114,133Deduction for estimated repair cost to address Moisture -$5,000Deduction for estimated Gelcoat repair cost to Upper Deck -$1,000List Value adjusted for condition $108,1338% adjustment to reflect actual sales price -$9,130Actual Fair Market Value $99,002To build a comparison of apples to apples and oranges to oranges, the 'Comparable' listings had to be adjusted to equalize their value. The primary difference in value centers around the beam width. A value of $10,000 was placed on the value of two additional feet in beam width. This value is a 'gut feel' and not one calculated from statistical data. Using that WB (Wide Body) Value adjustment, I adjusted the list prices up/down to make all five boats the equivalent 14' Wide Body configuration. Averaging these adjusted list prices together yielded an average listing price of $104,133.



None of the boats in the comparison are available on Watauga Lake. Boat valuations are typically representative of boats being bought and sold in an open and active market. Watauga Lake by its nature is an isolated market due to it being geographically isolated and having a limited number of boats on the market to select from. The average cost to have a boat of this size and configuration transported onto Watauga Lake is around $10,000. Taking this into account, increases the Adjusted Market List price upwards to $114,133. Adjusting the Market List Price downwards to reflect the estimated cost of the necessary repairs reduces the price to $108,133. Allowing 8% of list for negotiation or discounting, the Actual Fair Market Value is determined.Therefore, after consideration of the availability and reliability of the data, the extent of the necessary adjustments and condition of the vessel, it is your surveyor's opinion that the ''FAIR MARKET VALUE'' of the "Sample Survey" is:

$99,002Ninety Nine Thousand Two Dollars

2. The ''ESTIMATED REPLACEMENT COST'' indicates the retail cost of a new vessel of the same make/model with similar equipment offered by the same manufacturer. ''ESTIMATED REPLACEMENT COST'' of the subject vessel is:

$350,000Three Hundred Fifty Thousand Dollars



SUMMARY:In accordance with the request for a marine survey of the "Sample Survey" for the purpose of evaluating its present condition and estimating its Fair Market Value and Replacement Cost, I herewith submit my conclusion based on the preceding report. The subject vessel was personally inspected by the undersigned on October 22, 2013 12:00 P.M. to 5:30 P.M. and was found to be a well constructed vessel. It has been maintained and upgraded (i.e. installation of Inverter, Incinolets, installation of party top, etc...) over its lifetime resulting in average condition for a vessel of its age. The findings noted in this report regarding the moisture intrusion and upper deck gel-coat have already had a negative impact on the Fair Market Value (FMV). It should be noted, that if these items are not repaired in a timely and high quality manner, the vessel's FMV will be continue to be negatively impacted.Subject to the correction of any deficiencies listed in section IV A. (Safety), the vessel is considered to be suitable for its intended use of Recreational boating on Watauga Lake, TN. Any other deficiencies listed should be attended to in a timely fashion.

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 are 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 the parties involved.My compensation is not contingent upon the reporting of a predetermined value or direction in value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulate result, or the occurrence of a subsequent event.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:

VI. PHOTOGRAPHS


Precious Moments View from Port Bow

Portside View Main Salon

VI. PHOTOGRAPHS


Galley / Main Salon Primary Helm

Main Electrical Panel Galley

VI. PHOTOGRAPHS


Upper Stateroom Lower Stateroom

Master Stateroom Master Stateroom

VI. PHOTOGRAPHS


Aft Head Aft Head

Hull Identification Number Starboard moisture intrusion

VI. PHOTOGRAPHS


Wiring without Chaffe Protection

sumerset 14 x 78 sample survey

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