Tony Allport, SAMS, AMS Survey Report # 150 on the vessel Osprey on December 7, 2012 Page 1 of 19 lsm1-02

Tony Allport

Marine Survey Report #150 on the

Motor vessel Osprey

on December 7, 2012

For Condition & Valuation

Survey Exclusively For: Sample survey

Conducted By: TONY ALLPORT SAMS, AMS Allport Marine Survey & Consulting 11310 Tillicum Dr. Anderson Island, WA 98303 253-405-8324 253-884-4838Fax www.marinesurveyor.com/allport/

Table of Contents: 2 Vessel Survey Information 3 Summary, Condition, and Valuation 4 Safety Equipment (USCG, etc.) 5 Findings and Recommendations 6 Observations & Non-Standard Conditions 7 Comments 8 Vessel Detail 15 Summary 16 Notice to Purchaser 17 Appendix -Photographic Support and Rubbings

Tony Allport, SAMS, AMS Survey Report # 150 on the vessel Osprey on December 7, 2012 Page 2 of 19 lsm1-02

Tony Allport

VESSEL SURVEY INFORMATION

DATE OF SURVEY DECEMBER 7, 2012

SURVEY LOCATION LAKE UNION, SEATTLE, WA

SURVEYED BY TONY ALLPORT, SAMS, AMS

TYPE OF SURVEY CONDITION AND VALUATION

NAME OF VESSEL OSPREY

YEAR/MAKE/MODEL OF VESSEL^ 1992 / EAGLE 32

OVERALL VESSEL CONDITION GOOD

ESTIMATED FAIR MARKET VALUE $75,000 to $80,000

ESTIMATED REPLACEMENT VALUE $350,000

HULL IDENTIFICATION NUMBER TMUP3241D292

FEDERAL DOCUMENTAION NUMBER______________________________ 992751

STATE REGISTRATION NUMBER N/A

STATE ANNUAL DECAL NUMBER / EXPIRATION DATE 610175 / 2013

OWNER DOUGLAS A. KIEPER

BUILDER^ TRANSPACIFIC

DESIGNER^

HULL MATERIAL FIBERGLASS

L.O.A / L.W.L.^^ 32 /---

BEAM / DRAFT / KEEL^^ 11-6 /3-4 /SKEG

DISPLACEMENT^ / BALLAST^^ 17,000 / lead pigs

PROPULSION SYSTEM INBOARD ENGINE

FUEL^^ DIESEL

INTENDED USE/CRUISING AREA PLEASURE / PUGET SOUND AND ADJACENT WATERS ^ Information provided by Survey Report purchaser, Owner, or Owners Rep. ^^ Information per ships papers or Manufacturers Specifications. ^^^ Information per BUC Book, or other reliable publication.

Tony Allport, SAMS, AMS Survey Report # 150 on the vessel Osprey on December 7, 2012 Page 3 of 19 lsm1-02

Tony Allport

VESSEL SUMMARY, CONDITION, AND VALUATION

Acting at the request of, Client, the undersigned did on December 7, 2012, attend on board the motor vessel, Osprey, while it was in the water dockside in Lake Union and hauled for inspection at the Canal Boat Yard in Seattle, WA. Attending the survey was the undersigned marine surveyor, Client, and Gary Buck the broker. The purpose of the inspection was limited to determining the general condition of the vessels structure, machinery, equipment, and systems on this day only, for condition and valuation for pre-purchase consideration. The inspection is based on the agreement between the survey purchaser and the undersigned as represented in the Work Order - REQUEST FOR VESSEL SURVEY, PERMISSION TO BOARD, & DISCLAIMER signed by both parties prior to the inspection. The vessel was carefully examined and tested in reasonably accessible places of the primary structural elements, the hull, deck, and cabin arrangement, by percussion sounding, scraping, and visual inspection. A limited external engine inspection was performed but a full mechanical survey was not performed or requested. The valuation of this vessel presumes the satisfactory operation of the engine. The vessel was observed underway while traveling to the haul out facility. The weather was overcast and damp. So far as could be determined by the above method of inspection, the vessel appears to be in good structural condition, normal wear and tear expected, with the exception of any deficiencies noted in the survey report. It is the opinion of the undersigned that her hull and equipment will be in satisfactory condition for cruising the waters of the Pacific Northwest when equipped, proper seamanship used, the recommendations are complied with, and the non-standard conditions corrected. She is intended for use as a private recreational vessel.

CONDITION: GOOD

VALUATION

ESTIMATED FAIR MARKET VALUE $75,000 to $80,000 US$ AS IS

The valuation of this vessel was conducted by examining recent sales and current listings of comparable vessels, otherwise known as the market approach. The cost and income approaches to valuation were also considered but found not to apply in this case. Seven recorded sales on Soldboats.com for Eagle 32s over the last three years range between $50,000 and $84,000 with an average of $66,000. The age of these boats range between 1986 and 1998 with no particular coorelation between price and age. It has been four years since a 1992 model has sold for over $100,000. The most recent sale is for a 1998 model which sold for $50,000 in October 2012 as part of an estate. There are four current listings on Yachtworld.com ranging from $53,500 for a 1987 model to $112,000 for a 1998 model. This boat at $115,000 is the highest priced boat of its type currently on the market. Considering that this boat is well suited for the Pacific Northwest region I estimate its fair market value at between $75,000 and $80,000.

ESTIMATED REPLACEMENT VALUE (NEW) $350, 000 US$

Signature December 7, 2012 Tony Allport, AMS Date

Based upon the following sources:

BUC, Soldboats.com, Current Local Yachting Publications, Internet Resources and the Surveyors knowledge and experience.

Tony Allport, SAMS, AMS Survey Report # 150 on the vessel Osprey on December 7, 2012 Page 4 of 19 lsm1-02

Tony Allport

SAFETY EQUIPMENT

FEDERALLY REQUIRED SAFETY EQUIPMENT

SHIPS PAPERS: State Registration Form Aboard? No USCG Vessel Documentation Form? No

PERSONAL FLOTATION DEVICES (LIFE JACKETS): Four type II

THROWABLE (TYPE IV) Floatation cushions

FIRE EXTINGUISHERS Number 3 Size B1 Charged Yes Tagged: No Age: 1996 / 1999 / 2006

Note: all fire extinguishers are required to be recertified and tagged annually.

VISUAL DISTRESS SIGNALS All expired

SOUND PRODUCING DEVICE HORN(S) Yes

BELL No

NAVIGATIONAL LIGHTS Side Lights Yes Anchor light Yes Stern light Not working Steaming light Yes PLACARDS: DISCHARGE OF OIL PROHIBITED YES TRASH DISPOSAL (MARPOL ANNEX (V) Yes Washington State carbon monoxide warning? Yes EQUIPMENT APPLICABLE TO VESSELS WITH GASOLINE POWERED MACHINERY

BACKFIRE FLAME ARRESTOR NO WARNING AT HELM NONE OBSERVED

VENTILATION YES POWER EXHAUST BLOWERS Yes

FIXED FIRE EXTINGUISHING SYSTEM IN ENGINE COMPARTMENT No

OTHER (Optional) SAFETY EQUIPMENT

BOAT HOOKS Yes BOATS Yes

EPIRB No LPG MONITOR: DETECTOR/ALARM NO

FIRE ALARM No SMOKE DETECTOR / CO DETECTOR NO / NO

M.O.B. POLE No HIGH BILGE WATER ALARM No

FIRST AID KIT No SEARCH LITE / RADAR REFLECTOR No / No

LIFE RAFTS No DC (DAMAGE CONTROL) PLUGS None observed

EXTRA PARTS (Engine, Generators, Hoses Belts, Etc.) Yes

BASIC NAVIGATIONAL AID INFO. /CHARTS, ETC. Yes

Tony Allport, SAMS, AMS Survey Report # 150 on the vessel Osprey on December 7, 2012 Page 5 of 19 lsm1-02

Tony Allport

FINDINGS AND RECOMMENDATIONS

NOTE: * There may be additional comments and/or recommendations for action in the Appendix.

1) FOUND: Bilge pumps: The boat appears to be plumbed for a manual bilge pump but the pump was never found during

the survey. The main automatic pump has a broken float switch and a smaller automatic pump has a float switch which is mounted too high for practical use. The automatic pumps do not appear to work independently of the battery switch or panel breakers.

Recommended: Repair as needed to make all pumps effective and functional at all times. 2) FOUND: Legal / Safety: The stern light is not working. The fire extinguisher on the fly bridge is not mounted and two

of the fire extinguishers are quite old. The flares are expired. There is no carbon monoxide detector. The vessel name is obscured by the dinghy when it is hauled.

Recommended: Repair the stern light as needed. Replace the older fire extinguishers and make sure they are properly

mounted. Replace the flares. Install a C/O detector and test its function regularly. Make sure the vessels name is clearly displayed at all times as required by law for documented vessels.

3) FOUND: AC electrical: There is no locking ring on the male end of the shore power cord. The outlets on board are not GFCI protected. There does not appear to be a double pole main breaker on the panel. The shore power inlet contacts are tarnished, and the back of the AC panel is not shielded from the back of the DC panel.

Recommended: Have a qualified marine electrician review the system and make corrections as needed to comply with prevailing ABYC standards.

4) FOUND: Propane: The propane locker is also being used to stow miscellaneous items. The wooden sills around the base of the locker are rotting. There is no thermocouple protection for the stove burners.

Recommended: Remove and repair rotted wood and configure the locker so that extraneous items are separated from the propane cylinders. Use the stove with all due caution until it is retrofitted or replaced to be compliant with current standards.

5) FOUND: The radar antenna appears to be in line with people sitting or standing on the fly bridge.

Recommended: Ve