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TIPTON MARINE SURVEYSINDEPENDENT MARINE SURVEYOR

2005 Rinker 342

" Removed for Pr ivacy"

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

MEMBER OF SOCIETY OF ACCREDITED MARINE SURVEYORS

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Report of Marine Survey

Of The Vessel

" Remo ved for Privacy"

2005 Rinker 342

Conducted byJames R. Tipton, Surveyor Associate

PREPARED EXCLUSIVELY FOR:

Removed for Privacy

May, 2014

MEMBER OF SOCIETY OF ACCREDITED MARINE SURVEYORS

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TABLE OF CONTENTS

TOC" Removed for Pr ivacy"surveyed by Tipton Marine Surveys - Lenoir City, TN 37771

SECTION PAGE NO

I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INTRODUCTION 1

II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .GENERAL INFORMATION 4

III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SYSTEMS 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .HULL DECK AND SUPERSTRUCTURE 6

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .CABIN APPOINTMENTS 9

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PROPULSION 11

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FUEL SYSTEM 13

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ELECTRICAL SYSTEMS 14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FRESH WATER SYSTEM 17

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SANITATION 18

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .STEERING SYSTEM 19

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .GROUND TACKLE 19. . . . . . . . . . . . . . . . . . . . . . . . . . . .ELECTRONICS AND NAVIGATION EQUIPMENT 19

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . THRU-HULLS 20

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BONDING SYSTEM 22

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SAFETY EQUIPMENT 22

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .OUT OF WATER INSPECTION 23

. . . . . . . . . . . . . . . . . . . . . . . .AIR CONDITIONING AND HEAT (AIR CONDITIONING) 25

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SEATRIAL REPORT 25

IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FINDINGS AND RECOMMENDATIONS 28

V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SUMMARY AND VALUATION 33VI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PHOTOGRAPHS 37

TOC" Removed for Pr ivacy"surveyed by Tipton Marine Surveys - Lenoir City, TN 37771
http://-/?-http://-/?-

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I. INTRODUCTION

Page 1 of 42" Removed for Pr ivacy"surveyed by Tipton Marine Surveys - Lenoir City, TN 37771

SCOPE OF SURVEY

Acting at the request of Removed for Privacy, the attending surveyor conducted a Pre-PurchasMarine Survey of the "Removed for Privacy" a 2005 Rinker 342, beginning on May 13, 2014 at09:45 A.M. through 16:45 P.M. where she was docked at Harbortowne Marine, 280 Tellico PortRd., Niles Ferry Industrial Park, Vonore TN 37885.

The weather was mild with occasional showers and temperatures in the mid to high eighties. Tship's papers were available and appeared to be in order. The Hull Identification Number (HINRNKXXXXXXX as indicated on the vessel's state registration was able to be verified on thetransom. A sea trial and an out of the water inspection of the vessel's underwater machinery athe exterior of the hulls wetted surface area was performed following the in the water portion of survey. The broker for the potential sale, Mr. Scott Clements was present during portions of thsurvey and piloted the vessel during the sea trial.

The reason for the survey, was to ascertain the physical condition and value of the vessel forRemoved for Privacy for possible purchase. AC and DC power was used to check the operati

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 theinternal condition of the engines or the propulsion system's operating capacity.

This vessel was surveyed without removal of any parts, including fittings, tacked carpet, screweor nailed boards, anchors and chain, fixed partitions, instruments, clothing, spare parts andmiscellaneous materials in the bilges and lockers, or other fixed or semi-fixed items. Lockedcompartments or otherwise inaccessible areas would also preclude inspection. The owner isadvised to open up all such areas for further inspection. Further, no determination of stabilitycharacteristics or inherent structural integrity has been made and no opinion is expressed withrespect thereto. This survey report represents the condition of the vessel on the above date, ais not to be considered an inventory or a warranty either specified or implied.

Where installation of double hose clamps are recommended throughout this report, it isunderstood that double clamps should only be installed where there is sufficient length of tailpie/ pipe available and hose length overlap to allow correct installation. No clamp shall be installecloser than 1/4" to the end of the hose and must fully engage the tailpiece / pipe or fitting. Anyclamp extending over the end may cause the hose to be cut internally or force the hose off thefitting and is an incorrect installation.

Solid, unperforated type hose clamps utilizing 316 stainless steel with rolled edges arerecommended for all hose to pipe joints particularly when located below the waterliine.

CONDUCT OF SURVEY:

THE MANDATORY STANDARDS PROMULGATED BY THE UNITED STATES COASTGUARD (USCG), UNDER THE AUTHORITY OF TITLE 46 UNITED STATES CODE (USC);TITLE 33 AND TITLE 46, CODE OF FEDERAL REGULATIONS (CFR), AND THEVOLUNTARY STANDARDS AND RECOMMENDED PRACTICES DEVELOPED BY THEAMERICAN BOAT AND YACHT COUNCIL (ABYC) AND THE NATIONAL FIREPROTECTION ASSOCIATION (NFPA) HAVE BEEN USED AS GUIDELINES IN THE

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I. INTRODUCTION


CONDUCT OF THIS SURVEY.

Any moisture readings taken and referenced within the body of the report, were takenusing a General Electric Aquant Surveymaster (BLD5760) and/or a Ryobi Moisture meterElectrical 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 completeinspection 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 surveywas conducted.

Use of asterisks * in the body of the report will indicate that a finding will be listed in theFindings and Recommendations section pertaining to the asterisked item, following thebody of the report.

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I. INTRODUCTION


VESSEL DESCRIPTION

The "Removed for Privacy", a Rinker 342 Fiesta Vee is a midsize express style cruiser built on

wide beamed semi-V hull, with a lowered floor in the salon and taller, foredeck tooling that

increased cabin headroom and overall living space over previous year models. The cockpit, wit

seating for six to eight, includes a full wet bar with sink refrigerator and icemaker. Additional

features include a walk-through windshield, electric engine hatch, extended swim platform, cen

vacuum system and transom shower. She is powered by twin Mercruiser 350 MPI Horizon 5.7L

gasoline engines.

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II. GENERAL INFORMATION

GENERAL INFORMATION


. . . . . . . . . . . . . . . . .SURVEY PREPARED FOR: Removed for Privacy

. . . . . . . . . . . . . . . . . . . . . . .NAME OF VESSEL: "Removed for Privacy". . . . . . . . . . . . . . . . . . . . . . . .TYPE OF SURVEY: Pre-Purchase for Buyer

. . . . . . . . . . . . . . . .OVERALL VESSEL RATING: ABOVE AVERAGE (BUC)

. . . . . . . . . . . . . .ESTIMATED MARKET VALUE: $70,231

. . . . . . . .ESTIMATED REPLACEMENT COST: $305,000 PER BUC.com

. . . . . . . . . .YEAR/MAKE/MODEL OF VESSEL: 2005 Rinker Fiesta Vee 342

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BUILDER: Rinker Boats, Nautic Global Group,4500 Middlebury Street, P.O. Box1158 Elkhart, IN 46516

. . . . . . .HULL IDENTIFICATION NUMBER (HIN): Removed for Privacy

. . . . . . . . . . .STATE REGISTRATION NUMBER: TN 3181 DL

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .OWNER: Removed for Privacy

. . . . . . . . . . . . . . . . . . . . . .PLACE OF SURVEY: Harbortowne Marine, 280 Tellico PortRd., Niles Ferry Industrial Park,Vonore TN 37885

. . . . . . . . . . . . . . . . . . .DATE/TIME OF SURVEY: May 13, 2014 from 09:45 to 16:45

. . . . . . . . . . . . . . . . . . . . . . . . . .HULL MATERIAL: Fiberglass Reinforced Plastic (FRP)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .HULL TYPE: Semi deepV

. . . . . . . . . . . . . . . .LENGTH OVER ALL (L.O.A).: 37' 0" (w/ swim platform) perPowerboat Guide

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BEAM: 12' 0" per Powerboat Guide

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .DRAFT: 2' 11" (w/ Drives down) perPowerboat Guide

. . . . . . . . . . . . . . . . . . . . . . . . .DISPLACEMENT: 14,280 Lbs per Powerboat Guide

. . . . . . . . . . . . . . . . . . . .PROPULSION SYSTEM: Twin Mercruiser 350 MPI Horizon 5.7Lgasoline engines

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FUEL TYPE: Gasoline.

. . . . . . . . . . . . . . . . . . . . . . . . . .FUEL CAPACITY: 235 US Gallons per Powerboat Guide

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .AC POWER: Two (2) 125 volt, 30 amp. Inlets

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .DC POWER: 12 Volt DC

. . . . . . . . . . . . . . . .FRESH WATER CAPACITY: 51 US Gallons per Powerboat Guide

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II. GENERAL INFORMATION


. . . . . . . . . . . . . . . . . . . . . . . . . .HOLDING TANK: 45 US Gallons per Powerboat Guide

. . . . . . . . . . . . . . . . . . .INTENDED USE/BUYER: Recreational near coastal cruising.

. . . . . . . . . . . . . . .INTENDED CRUISING AREA: Near coastal Florida.

DEFINITION OF TERMS:

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

APPEARS - Indicates that a very close inspection of the particular system, component or itemwas not possible due to constraints imposed upon the surveyor (e.g. no power available, inabilito remove panels, or requirements not to conduct destructive tests).

FIT FOR INTENDED USE - Suitable for use intended by Survey Purchaser (present orprospective owner).

SERVICEABLE or ADEQUATE - Sufficient for a specific requirement.

POWERS UP - Power was applied only to determine if the system or component would energizIt 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 minorrepairs. (MONITOR OFTEN)

POOR CONDITION - Unusable as is. Requires repairs or replacement of system, component

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.

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III. SYSTEMS

HULL DECK AND SUPERSTRUCTURE


HULL CONSTRUCTION

TYPE:Semi deep V hull

MATERIAL:The hull of the "Removed for Privacy" is constructed of fiberglass; chopped strand mat,roving and polyester resin. Structural members are fiberglass encapsulated wood. Theliner is single piece fiberglass secured to hull using adhesives.

EXTERIOR HULL:*C1

The exterior hull is painted a navy blue with a high gloss. A gold foil boot stripe runs theperimeter of the vessel atop a band of white gelcoat above the bottom paint which is of atype made for freshwater. The overall exterior condition of the topsides is very good withfew minor scuffs and abrasions. There is evidence of two previous repairs that have beenaccomplished in the area of the starboard bow. Both repairs appear to be of good qualityand must be looked at closely to see them. The boot stripe and graphics are in goodcondition. Random moisture readings and percussion soundings were unremarkable.

PORTLIGHTS:Two acrylic opening portlights are positioned to both sides of the bow just below therubrail. Both portlights appear to be in good condition.

STRINGERS:Main hull stiffness provided by wooden longitudinal stringers encased in FRP. Completeinspection not possible due to limited access. Appears serviceable where observed.

STEM:

*C2Stem is smooth and undamaged with two scrapes in the paint above the padeye.

TRANSOM:FRP transom with walk-thru transom gate. Opening hatch allows access to storage areabehind aft cockpit seat unit. A FRP swim platform approximately 3 feet in length extendthe breadth of the vessel and is bolted to the transom.

BILGE:The bilge (visible only in the engine compartment) is grey colored CSM (Chopped StrandMat) colored a light grey is fairly clean and dry.

CHAIN LOCKER (DRAINAGE):The chain locker is forward and accessible through an access port at the head of theforward berth. The locker was unable to be fully visualized due to access. Areas visibleappeared to be dry. An undetermined length of 1/4" chain and 1/2" rope serve as theanchor rode. The locker drains to port via a thru-hull located immediately below the bootstripe at the bow.

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III. SYSTEMS



HULL CONSTRUCTION (cont inued)

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

*C3

The design of the vessel includes a swim platform which is created by extending the fantailout over the outdrives several feet. This creates an excellent swim area. It also createsthe potential for carbon monoxide to get trapped underneath the platform. It isrecommended that swimmers be advised of this potential danger and avoid swimmingunder and surfacing under the platform.

DECK CONSTRUCTION

TYPE:*C4

Molded FRP (fiber reinforced plastic) with balsa core white gelcoat and non-skid surface.Moisture readings and percussion soundings were unremarkable.

HULL-TO-DECK JOINT

TYPE:The hull and deck are FRP and joined in shoebox (overlap) fashion with adhesives andstainless steel screws every 4" to 6" on average.

RUB RAIL:The rub rail is stainless steel and encircles the perimeter of the boat and is secured withstainless steel screws. The railing runs smooth and appears to be undamaged in alllocations.

DECK FITTINGS

BOW PULPIT (BOW RAIL):*C5

1 1/8" Stainless steel stanchions and rail system. Very good condition.

VENTILATION:Ventilation is provided by three Bomar Aluminum and acrylic hatches in the foredeck. One(1) deck hatch forward above V-berth 20'' Bomar. Two opening 12" hatches located furtheaft and above galley and dinette. All three hatches are in good condition and operatednormally.

WINDLASS/GIPSY:Horizon 900 windlass installed at bow with controls located at helm. Documentationlocated in main salon. Was not tested.

DECK SURFACE:White gel coat non-slip texture. Good condition, percussion sounding and moisturereadings detected no abnormalities.

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III. SYSTEMS



DECK FITTINGS (cont inued)

GRAB RAIL:Two molded in grab rails integral to outer surface of radar arch. Both are in good condition.

CLEATS:Eight stainless steel 10" cleats are positioned around the vessel. Four at aft quarters, twoamidships and two at the bow. All appeared to be in very good condition.

ANCHOR PLATFORM:Stainless steel anchor platform with bow roller. Appears serviceable.

COCKPIT AND HELM

MATERIAL:FRP molded helm console is located midships to starboard. Appears to be in goodcondition.

SEATS:An adjustable two person bench style seat with white vinyl upholstery located at helm. Alsohas drivers cushion that flips up to allow an elevated seating position while navigating thevessel. An additional white vinyl cushioned bench seat with stowage beneath. is located toport with a third seat running athwartships at the stern. All upholstery appeared to be inexcellent condition with no tears or stains visible.

WINDSHIELD:A glass windshield framed with stainless steel encloses three sides of the "Removed forPrivacy"'s cockpit. All glass appeared to be in good condition.

CARPETING:

*C6Removable carpets cover the cockpit sole and are held in place with snaps. Several snapsare missing from both carpet sections.

ADDITIONAL EQUIPMENT AND ACCESSORIES

ACCESSORIES:Cockpit and Radar Arch overhead lights provide additional and convenient task lighting.

CANVAS AND COVERS:The cockpit of the vessel is covered by a Canvas enclosure with clear vinyl windows forgood visibility all around. Overall condition of the canvas is good with the exception of twomissing snaps located at the aft port corner. The clear vinyl windows are in good conditionbut very dirty and need to be thoroughly cleaned.

FENDERS:Six fenders similar to Polyform Model HTM-2 are provided with two at the aft quarters andfour more stored in racks at the bow. Two additional Taylor-Made PC-2 style fenders werelocated under the port side seat in the cockpit. All fenders were in like new to very goodcondition.

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III. SYSTEMS



ADDITIONAL EQUIPMENT AND ACCESSORIES (cont inued)

COCKPIT WET BAR:A wet bar with sink, built-in blender and waste container is provided immediately aft of thehelm seat. The counter surface is a tan colored Corian and is in very good condition. AU-Line Icemaker and Tundra 2.2 Cu Ft Refrigerator are installed beneath the sink andcounter. All three appliances powered up and appeared to operate satisfactorily.

U-Line IcemakerModel # ULN-B195BTP-03Serial # 047628-08-0033

Tundra 2.2 Cu Ft RefrigeratorModel # T22ACSerial # 4Q71991

CABIN APPOINTMENTS

INTERIOR DESCRIPTION:

JOINERY AND FINISH:The interior of the "Removed for Privacy" is comprised of cherry wood surfaces, beigecarpets and neutral toned fabric coverings. All joinery appeared to be well made and finelyfit. Positive latching mechanisms were installed on all opening drawers and doors.

CABIN BRIGHT WORK:All surfaces, doors, counters, walls were in excellent condition.

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

WATER INTRUSION SIGNS:No evidence of water intrusion was noted. Surveyor's personal observation made atrequest of the buyer - Interior of boat smelled fresh at the time of survey. Did not detectany odor of dampness or excessive moisture.

STORAGE AREAS:The cabinets, lockers, drawers, and shelving were well crafted and finely fit where sighted.

HEADLINERS:Headliner material in the cabins appeared to be a light colored vinyl. Appeared to be in verygood condition.

DOORWAYS:Doorway into head and shower were of constructed of good materials and operatedsmoothly.

FABRIC AND CUSHIONS:Light colored patterned fabrics for berths, and pillows. Galley cushions covered with beigevinyl upholstery. All appear to be in very good condition.

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III. SYSTEMS

CABIN APPOINTMENTS


INTERIOR DESCRIPTION: (cont inued)

FLOOR AND WINDOW COVERINGS:Light beige colored pile carpeting covers the sole of the main salon. Appeared to be in vergood condition.

ACCOMMODATIONS:The forward or main berth is large enough for two adults and can be separated from themain salon via a privacy curtain. A second berth is located aft and below the helm areawhich can also be closed off with a privacy curtain.

HEADS:Aft of the galley on the port side is the head which features a wash basin (sink), electrictoilet and separate stall shower.

SHOWERS:A separate shower enclosure is provided in the head and has

FAUCET FIXTURES:The faucet fixtures and sinks were operable in head, at wet bar in cockpit and in the galley.

LIGHT FIXTURES:12 volt cabin lights throughout the vessel were operable.

AIR CONDITIONING UNITS:Single Marine Air unit located forward beneath forward berth. Control located at dinette sein galley. Unit appeared to operate satisfactorily.

TELEVISIONS:22" Sharp Flat Screen TV/DVD player (Model # LC-19AD22U) unit located on aft bulkhead

of main salon. Powers up.

STEREO, ETC.:Sony AM/FM/CD player installed in main salon. Powers up.

GALLEY

LOCATION:The galley is located to port and features a single basin sink, microwave, coffee make, two

burner electric stove and a refrigerator.

SINKS:Single round polished stainless steel sink in like new condition.

REFRIGERATION:Tundra Model # T42AC 12 Volt 4.2 Cu. Ft. Powers up and appears to operatelysatisfactorily.

STOVE/OVEN:Kohler two burner electric stove. Powers up.

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III. SYSTEMS

CABIN APPOINTMENTS


GALLEY (cont inued)

MICROWAVE:Emerson Model # MW87778 powers up.

ACCESSORIES:Mr. Coffee 10 Cup Coffeemaker powers up.

PROPULSION

MAIN ENGINES

TYPE:The "Removed for Privacy" is powered by twin Mercruiser 350 MPI Horizon 5.7L gasolineengines

SERIAL NUMBERS:Port EngineEngine Serial # 0W064455Tramsom Serial # 0W175918Drive Serial # 0W258577

Starboard EngineEngine Serial # 0W064458Tramsom Serial # 0W175658Drive Serial # 0W258576

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

HORSE POWER:Per Mercruiser 300 HP

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

INDICATED HOURS:Port Engine - 438 Hours per Mercury Electronic display at HelmStarboard Engine - 435 Hours per Mercury Electronic display at Helm

THROTTLE CONTROLS:Mercury Mechanical lever/cable type.

FLAME ARRESTOR:Installed and appears serviceable.

EMERGENCY SHUT DOWN:None sighted.

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III. SYSTEMS

PROPULSION


MAIN ENGINES (cont inued)

ENGINE MOUNTS AND BED:Engine mounts are affixed to FRP encased wooden stringers via lag bolts. Appearedserviceable. Moisture readings and percussion soundings were normal.

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

LUBRICATION:*C7

Oil Level indication is normal both port and starboard. Note: The surveyor recommendsthat all engine fluids and filters be renewed as soon as possible.

VENTILATION:Power blowers port and Starboard with flexible pick-up tubing . Natural, flow ventilationprovided by hull vents. Appears adequate.

EXHAUST SYSTEM:Cast Iron risers with Dry Elbow. Appears serviceable where sighted.

INSULATION:Aluminized foam rubber sound deadning insulation was noted in engine room. Appearsserviceable.

ENGINE ALARMS:Low oil pressure alarm and coolant over heat warning audible at helm station. Appearsserviceable.

ENGINE SYNCHRONIZER:Electronically controlled.

CONDITION AND DEFICIENCIES:Engines appeared to be in good condition. All fluid levels appeared to be adequate and ingood condition. No sign of leakage observed.

IGNITION PROTECTION:It appears that all Ignition protection protocols are being followed without deviation.

COOLING SYSTEM

TYPE:

Closed reservoir type cooling with raw water cooled exhaust.

RAW WATER STRAINERS:Bronze alloy with sight glass. Appears serviceable.

COOLANT LEVEL:Normal level observed.

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III. SYSTEMS

PROPULSION


COOLING SYSTEM (cont inued)

HOSES AND CLAMPS:Hoses and clamps appeared to be in good condition. Double clamped where required.

BELTS AND PULLEYS:Serpentine belts appear serviceable.

SEACOCKS AND STRAINERS:Raw water seacocks were ball valve type and were operable, and in like new condition.

FUEL SYSTEM

MAIN ENGINE(S) FUEL SYSTEM

FUEL TYPE:Gasoline.

NUMBER OF TANKS:Two (2)

TANKS CAPACITY:235 US Gallons per Powerboat Guide

LOCATION:Tank(s) are located forward of engine compartment but were not sighted due to access.

FILL PIPE LOCATIONS:Port and starboard at aft quarters.

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 GAS.

HOSE CONNECTIONS, CLAMPS:Appears serviceable and approved where sighted.

FUEL LINES AND FITTINGS:

Grade USCG type A1. Appears serviceable where sighted.

FUEL MANIFOLD VALVES:Ball type valves, operable.

VENT LOCATION:Not sighted.

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III. SYSTEMS

FUEL SYSTEM


MAIN ENGINE(S) FUEL SYSTEM (cont inued)

SHUT-OFF VALVE:Ball valves located on forward engine compartment bulkhead. Appeared serviceable.

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

ELECTRICAL SYSTEMS

ELECTRICAL SYSTEM (D.C. SYSTEM)

VOLTAGE:Lead acid battery powered 12 volt system.

BATTERIES:Two batteries wired for starboard engine and port engine.

MAIN BATTERY SWITCHES:Two (2) main battery switches of the Guest rotary type mounted on the DC electrical panellocated to starboard at aft cockpit . Appeared serviceable.

PANEL:Locations: DC Control panel starboard side aft cockpit, Helm and main electrical panel inmain salon. Overcurrent Protection: Circuit breakers.

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

ROUTING/SUPPORT:Well supported and secured where sighted.

CHARGING SYSTEM (BATTERY CHARGER):Intelli-Power MarineModel # PD2040

CHARGING SYSTEM (ALTERNATOR):Two (2) Mercury Marine engine mounted belt driven alternators. Rating: 70 amp. Appearedserviceable.

OUTLETS:12 Volt outlets were sighted in the helm station and at Dinette area in main salon was of

cigarette socket type. Appeared serviceable.

ELECTRICAL SYSTEM (A.C. SYSTEM)

SHORE POWER INLET:Number: Set of two (2) Marinco 30 amp. Location port side at midships. Labeled AirConditioner and Shore Power. Very good condition.

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III. SYSTEMS

ELECTRICAL SYSTEMS


ELECTRICAL SYSTEM (A.C. SYSTEM) (cont inued)

SHORE POWER:*A1

Two 30 amp/125 volt Cords approximately 30' long. One white, one yellow. White cord ingood condition. Yellow cord missing locking ring, and appears to have been damaged byheat.

AC SOURCE SELECTOR SWITCH:Generator power switch is locked out at Main Electrical Panel in salon. This is due toinstallation of power inverter. A manual plastic slide type switch is located in the cockpit atsub-electric panel at Wet Bar in Blender storage well.

MAIN BREAKER:Two (2) in the main electrical panel port side of main salon.

BRANCH BREAKERS:Thirteen (13) individually switched branch breakers. Location: Main Electrical panel in maisalon. Well marked.

CIRCUIT LOAD MONITORS:*B1

Switchable voltage meter indicating voltage of Main (Shore Power) input or Air Conditionerinput power located at Main Electric Panel. Note the control switch lever is broken makingit difficult to switch from one source to the other.

CONNECTIONS (TYPE):Not sighted.

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

ROUTING:Well routed and supported where sighted.

OUTLETS:Various A.C. outlets available throughout yacht, appear adequate and conveniently locatedTested ok for proper polarity. GFCI (ground fault circuit interrupter) outlets sighted at galleand head. All tested OK, informational note; Convenience outlet at Wet Bar is GFCIprotected by GFCI in Galley.

POLARITY:Two (2) indicators one (1) for each 30 amp circuit. At electrical panel in galley. Appearedto operate correctly.

GALVANIC ISOLATOR:Yandina 30 Amp Galvanic Isolators installed on each Shore Power Inlet. Appearedserviceable. Accessed via storage area under port side cockpit seat.

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III. SYSTEMS

ELECTRICAL SYSTEMS


ELECTRICAL SYSTEM (A.C. SYSTEM) (cont inued)

NOTE:Tested boat for current leakage into water. Results were satisfactory, no apparent leakageseen.

GENERATORS AND INVERTERS

TYPE:Generator driven by gasoline powered internal combustion engine.

MANUFACTURER:Kohler Gasoline 5 KVA GeneratorModel # 5ESerial # 200

KILOWATT RATING:Kolher 5.0 KW per label

VOLTAGE RATING:120 Volts @ 41.7 amps per label

INDICATED HOURS:400.7 per Hour meter on unit

LOCATION:Engine compartment on port side.

FLUID LEVELS:Coolant normal. Oil normal. Surveyor recommends that all fluids be renewed according to

the manufactures recommended specifications as soon as possible.

COOLING SYSTEM:Closed coolant and raw water exhaust type.

FUEL FILTER:Remote spin on/off type mounted to forward engine compartment bulkhead.

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 double clamped where sighted. Appears serviceable.

FLAME ARRESTOR:Yes, USCG approved.

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

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III. SYSTEMS

ELECTRICAL SYSTEMS


GENERATORS AND INVERTERS (cont inued)

IGNITION PROTECTION:Ignition protection protocols appear to be intact where sighted.

DC/AC INVERTER:Prosine 2.0 Inverter / Charger

LOCATION & VENTILATION:Control panel located on starboard bulkhead at dinette in main salon. Batteries located tostarboard in engine compartment. Ventilation provided through normal passive enginecompartment ventilation.

INVERTER INPUT VOLTS/AMPS:12 Volts DC

INVERTER OUTPUT VA/WATTS:

2,000 watts at 115 Volts AC

NOTE:Inverter power is activated by 'Electronics' switch located at Helm. Main Breaker is locatedat Wet Bar in Blender storage well.

FRESH WATER SYSTEM

FRESH WATER SYSTEM: (POTABLE WATER)

STORAGE TANKS:51 US Gallon storage tank (per Powerboat Guide) not sighted due to access.

FILL PIPE LOCATION:Starboard side in aft quarter marked WATER.

VENT PIPE LOCATION:Starboard side in aft quarter aft of Water Fill pipe.

ACCUMULATOR TANK:None Sighted.

PUMPS:JABSO PAR-MAX 2+ 40 PSI 12 volt 2.8 GPM pump mounted to forward bulkhead of engincompartment. Functioned normally.Model # 31595-0592

Serial # 03J35655

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

DOCK SIDE PRESSURE REGULATOR:None Sighted.

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III. SYSTEMS

FRESH WATER SYSTEM


FRESH WATER SYSTEM (HOT WATER SYSTEM)

TYPE:110 electric. Marine grade.

MANUFACTURER:AtwoodModel # EHM6-SMSerial # 94595014301

CAPACITY:6.0 Gallons per Label

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

SANITATION

SANITATION (BLACK WATER)

MANUFACTURER:Raritan Crown, electric flush.

LOCATION OF HEADS:One head located to port off of main salon.

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

RAW WATER SUPPLY AND CLAMPS:

Thru-hulls at individual head locations; double clamped and serviceable (see thru-hulldiagram).

PUMP-OUT LOCATION:Port side deck midships. Clearly marked WASTE.

HOLDING TANK:Not sighted due to access. Capacity 45 US Gallons per Powerboat Guide

SANITATION (GREY WATER)

BASINS, SHOWERS, HOSES AND CLAMPS:The basins and showers on this vessel drain overboard in the near vicinity of the specific

basin or shower pan. No sump collection sighted.

DISCHARGE:Overboard, port topsides.

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III. SYSTEMS

STEERING SYSTEM


STEERING SYSTEM

TYPE:Single station Mercruiser Hydraulic with engine mounted pumps. Appeared serviceablewhere sighted.

GROUND TACKLE

GROUND TACKLE

ANCHORS:CQR Anchor estimated at approximately 22 pounds. Appears serviceable.

RODE MATERIAL:1/4" galvanized chain and 1/2 rope of unknown length. Appeared serviceable wheresighted.

WINDLASS:Simpson-Lawrence 900 Windlass, Appears serviceable. Controls at helm. Mountingappears adequate for service required.

ELECTRONICS AND NAVIGATION EQUIPMENT


VHF:Standard Horizon Eclipse +. Powers up.

MULTIFUNCTION NAVIGATION DISPLAY:Raymarine C70 - Powers up.

SPEED LOG:*B2

None Sighted.

DEPTH SOUNDER:Faria digital depth gauge located at helm. Powers up.

COMPASSES:Ritchie 3" located at helm station. Appears to function normally.

ANTENNAS:Radome - Raymarine 2kW 18" Radome. Appears serviceable.

Product Code M92650-SSerial # 0940523

Shakespeare Sea Watch TV Antenna - Appears serviceable

SHIPS CLOCK:Located at helm. Powers up.

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III. SYSTEMS



ELECTRONICS AND NAVIGATION EQUIPMENT (cont inued)

ELECTRONIC ENGINE INDICATOR SYSTEM:Mercruiser Smart Craft Engine monitoring system. Powers up.

THRU-HULLS

THRU-HULLS:

THRU-HULLS ABOVE WATER LINE (DIAGRAM):

Abbreviation Description

ACD AC Dischg

BP Bilge Pumps

CD Condensate Drain

DF Deck Fill

EP Exhst Ports

ShD Shower Drain

SkD Sink Drain

VH Vent Hose

WP Waste Pumpout

**Red Icon(s) with white text indicates inoperable item.

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III. SYSTEMS

THRU-HULLS


THRU-HULLS: (cont inued)

THRU-HULLS BELOW WATER LINE (DIAGRAM):

Abbreviation Description

AC A/C Raw Water In

ENGINE Engine

GEN Generator

Head Head - Raw Water In

SC Seacock

TD Transducer

**Red Icon(s) with white text indicates inoperable item.

NOTE:The below the water line thru-hull valves on this vessel were ball valve type and were alloperable.

BONDED:Bronze thru-hulls were bonded where sighted. Appears serviceable.

GALVANIC ISOLATION:

Galvanic isolation accomplished via two Galvanic Isolators affixed to each Shore PowerInlet. Accessible from port side seat storage area in cockpit. Appears serviceable.

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III. SYSTEMS

BONDING SYSTEM


BONDING SYSTEM

MAIN BONDING CONDUCTOR:The bonding system appears to be well established where sighted. A separate bondingsystem inspection was not performed and I did not use a corrosion meter to establish thelevel of protection. However the bonding system is using individual green insulated wireand appeared to be serviceable were sighted. A hull mounted anode was not sighted.

SAFETY EQUIPMENT

SAFETY EQUIPMENT (UNITED STATES COAST GUARD)

NUMBER AND TYPE OF PFD'S:*C8

A total of nine Type I USCG approved PFD's were observed. Two stored beneath aftcockpit seat, and seven stored beneath port side cockpit seat. All appeared to be in goodcondition.

NUMBER OF THROWABLE PFD'S:Three Type IV-U.S.C.G. approved throwable devices located in cockpit. Appear to be ingood condition.

FIRE EXTINGUISHERS:*A2, A3

One FE-241 cylinder in engine compartment with no current inspection tag. Insufficientnumber of fire extinguishers onboard for a vessel this size.

VISUAL DISTRESS SIGNALS:*A4

Flares were 12 gauge style Day/night visual distress signals and are past expiration(November 2010) located in Main Salon.

SOUND DEVICES:Horn operated normally.

FLAME ARRESTORS:Installed, USCG approved.

POWER EXHAUST BLOWERS:Operable.

NAVIGATION LIGHTS:*A5

Sidelights are operable.All-round lights is inoperable.Sternlight is operable.

Anchor lights are inoperable.

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III. SYSTEMS

SAFETY EQUIPMENT


SAFETY EQUIPMENT (UNITED STATES COAST GUARD) (cont inued)

"NO OIL DISCHARGE" PLAQUE:Properly displayed in engine space.

TRASH DISPOSAL PLACARD:Located at Wet Bar in cockpit.

FCC STATION LICENSE (VHF EQUIPPED ONLY):None Sighted.

AUXILIARY SAFETY EQUIPMENT

SMOKE DETECTOR:*C9

No Smoke Detectors observed. Highly recommended.

BILGE WATER ALARM AND SAFETY SWITCHES:*C10

None sighted. Recommend installing Audible Bilge alarm system.

FIXED FIRE EXTINGUISHING SYSTEM (HALON TYPE):Fireboy FE-241 Fire Extinguishing system containing Chlorotetrafluoroethane. Bottleprovides coverage for up to 100 cubic feet and is mounted to forward bulkhead of enginecompartment. The status indicator is mounted at the helm station and shows the systemto be charged and ready. No inspection tag was present.

SEARCH LIGHT:ITT / Jabsco Remote Controlled searchlight mounted at bow, controlled from helm.

Operated satisfactorily.

FIRST AID KIT:Located in starboard side in main salon.

FUME SNIFFER ALARM SYSTEMS:None installed.

BILGE PUMPS

LIST:Rule 1100 Bilge pump with Rulematic float switch located at centerline in enginecompartment. Not tested.

OUT OF WATER INSPECTION

BELOW WATERLINE MACHINERY

PROPELLER(S):Both drives fitted with Mercury Marine Bravo Three Duo Props 22P all propeller bladesappear to be in very good condition with no sign of impact or other damage.

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III. SYSTEMS

OUT OF WATER INSPECTION


BELOW WATERLINE MACHINERY (cont inued)

TRIM TABS:Vessel is fitted with LENCO trim tab system operable from helm station. Test OK.

THRU-HULLS:Six (6), including drain plug, Bronze thru-hulls fittings all serviceable.

TRANSDUCERS:Depth transducer mounted to starboard of centerline paralell to Generator Raw Water InScoop.

STRAINERS/SCOOPS/SCREENS:Main engine pickups, Generator, Air Conditioning strainers are external bronze alloy slottedtype. Clear and appear serviceable.

GROUNDING PLATES:

None Sighted.

ZINCS:*B3

Current sacrificial anodes are Magnesium (fresh water). These anodes are not suitable fora saltwater environment. Recommend replacement with Zinc anodes.

OUTDRIVES:*A6

Twin Bravo 3 outdrives appear to be in good condition casings are undamaged and exhibitvery light corrosion. Inspection of the bellows assemblies indicated that the bottom bellowson the starboard outdrive was badly torn. Bellows assemblies on both outdrives were stiff

and non-pliable.

TRANSOM LIGHTS:*C11

The vessel is fitted with two downward pointing LED transom lights. The port sideoperate, but starboard side is only half lit.

CONDITION OF HULL (WETTED SURFACE)

BLISTERS:No blisters sighted.

CONDITION OF BOTTOM PAINT:*C12

Bottom paint is freshwater type and in fair condition. Broker reports that it was repaintedlast year.

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III. SYSTEMS

AIR CONDITIONING AND HEAT (AIR CONDITIONING)


AIR CONDITIONING AND HEAT (AIR CONDITIONING)

TYPE:Dometic Marine Air SystemsModel # VCD16K/1Serial # 43586146

NUMBER OF UNITS:Single Compressor unit located beneath forward berth. Single air handler unit located atfoot of forward berth. Controls located to starboard above dinette.

BTU CAPACITY:Compressor rated at 16,000 BTU

THRU-HULL STRAINER:None sighted.

HOSES, CLAMPS AND CONNECTORS:Appear to be adequately sized and serviceable for application.

RAW WATER COOLING PUMP:Not sighted.

DRIP TRAYS:At base of unit. Appears serviceable, condensate drains to port side through fitting at bootstripe.

SEATRIAL REPORT

INTRODUCTION

INTRODUCTION:The "Removed for Privacy" was operated from the Harbortowne Marine facility for sea trialbeginning at 2:15 P.M. until its arrival back at Harbortowne for Haul-out at 3:00 P.M. Thevessel was operated by the broker, Scott Clements. No other personnel were onboardduring the trial.

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III. SYSTEMS

SEATRIAL REPORT


OBSERVATIONS

OBSERVATIONS:1. Both engines started immediately without excessive cranking.

2. The engine exhaust appeared normal.

3. The cooling water exhaust appeared adequate and normal.

4. The engine instruments operate within normal operating limits at idle, cruising speed,and maximum throttle.

5. Manufacturer's recommended max WOT RPM is 4400-4800

6. The steering system operated normally.

7. The throttles operated normally.

8. Shifting from Forward to Reverse and back was accomplished by both enginesnormally/smoothly.

9. The back down test was satisfactory.

10. There were no excessive vibrations noted.

11. The engine synchronizer worked properly, the trim tabs operated normally.

12. There were no oil or coolant leaks observed. (On main engines or in exhaust water)

The water temperature is in Fahrenheit. The oil pressure is in pounds per square inch.RPM refers to revolutions per minute. Batts are in volts of charge from the alternator.These figures are comprised of data read from the vessels gauges while underway on theabove stated date and time of the sea trial.

TRIAL RUN DATA

PORT ENGINE:

Port RPM Speed Oil (PSI) Ind. Temp (F)Volts Exh Riser (F)

Idle 500 0 48 140 13.5 96

1500 0 50 165 13.5 105

2000 0 52 160 13.5 105

80% 3000 0 52 160 13.5 110WOT 4400 0 55 160 13.5 110

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III. SYSTEMS

SEATRIAL REPORT


TRIAL RUN DATA (cont inued)

STARBOARD ENGINE:

Starboard RPM Speed Oil (PSI) Ind. Temp (F)Volts Exh. Riser (F)

Idle 550 0 48 120 13.5 98

1450 0 50 150 13.5 100

2000 0 55 160 13.5 100

80% 3200 0 58 160 13.5 110

WOT 4400 0 60 165 13.5 115

NOTE:Note: The speedometer did not function during the sea trial. This was not noted untilafterwards. Broker disclosed that it was a known issue that would be resolved duringhaul-out.

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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 properoperating condition. Findin gs may also b e in vio lation of U.S.C.G. regulation s.

Deficiencies noted under ''OTHER DEFICIENCIES'' should be corrected in the near future so ato 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 OBSERVATIONS

A. SAFETY DEFICIENCIES:

A.1 (PAGE 15) SHORE POWER:FINDINGS RECOMMENDATIONS

Yellow shore power cable missing lockingring and has signs of heat damage to onelug. Due to fire hazard, made broker awareof issue.

Replace defective power cable with properlocking cable. Broker stated he wouldreplace.

A.2 (PAGE 22) FIRE EXTINGUISHERS:FINDINGS RECOMMENDATIONS

Insufficient number of fire extinguishersonboard for a vessel this size. USCG

Regulations require that a vessel 26' to

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A. SAFETY DEFICIENCIES:

A.5 (PAGE 22) NAVIGATION LIGHTS:FINDINGS RECOMMENDATIONS

All around white light/anchor lightinoperative.

Repair as required.

A.6 (PAGE 24) OUTDRIVES:FINDINGS RECOMMENDATIONS

Bottom bellows torn on starboardoutdrive. Other bellows assemblies arestiff and non-flexible.

Recommend service of both outdrives toreplace bellows assemblies on both units.

B. OTHER DEFICIENCIES NEEDING ATTENTION:

B.1 (PAGE 15) CIRCUIT LOAD MONITORS:FINDINGS RECOMMENDATIONS

Main/Air Conditioner Voltage indicator

switch is broken in the Main ElectricalPanel in main salon. Difficult to switchmeter between Main (Shore Power) and AirConditioner Power.

Replace switch.

B.2 (PAGE 19) SPEED LOG:FINDINGS RECOMMENDATIONS

Speedometer inoperative at helm. Brokeris aware and stated it would be repaired athaulout.

Repair as required.

B.3 (PAGE 24) ZINCS:FINDINGS RECOMMENDATIONS

Current sacrificial anodes are Magnesium(fresh water). These anodes are notsuitable for a saltwater environment.

Recommend replacement with Zinc anodes.

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C. SURVEYOR'S NOTES AND OBSERVATIONS:

C.1 (PAGE 6) EXTERIOR HULL:FINDINGS RECOMMENDATIONS

Evidence of previous repairs to hulllocated at starboard bow. The first and

largest area is located forward of the airconditioner discharge thru-hull fitting andis approximately 15" to 18" in length alongthe boot stripe and approximately 10" to12" in height. This repair is very well donewith only a slight shading difference fromthe surrounding area. The second repairedarea is located approximately 20" to 24" aftof the same thru-hull fitting andapproximately 10" to 12" above the bootstripe, this area though not as well doneappears as a small scuff again with someshade difference.

No action required. Information only.

C.2 (PAGE 6) STEM:FINDINGS RECOMMENDATIONS

Two scrapes to topsides paint located atstem above padeye.

Monitor for any additional peeling and repairas necessary.

C.3 (PAGE 7) FINDINGS RECOMMENDATIONS

The design of the vessel includes a swimplatform which is created by extending the

fantail out over the outdrives several feet.This creates an excellent swim area. It alsocreates the potential for carbon monoxideto get trapped underneath the platform. Itis recommended that swimmers beadvised of this potential danger and avoidswimming under and surfacing under theplatform.

No action required. Informational only.

C.4 (PAGE 7) TYPE:FINDINGS RECOMMENDATIONS

Starboard fender rack is positioned toolow causing it to rub against the fore deck. Recommend adjusting the height of the rackto prevent damage to deck gelcoat fromcontinued abrasion.

C.5 (PAGE 7) BOW PULPIT (BOW RAIL):FINDINGS RECOMMENDATIONS

Bedding compound for Bow pulpit andrailing system appears to be failing.

Recommend rebedding the pulpit railingsystem to prevent moisture intrusion into decksurface and underlying substrate.

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C. SURVEYOR'S NOTES AND OBSERVATIONS:

C.6 (PAGE 8) CARPETING:FINDINGS RECOMMENDATIONS

Cockpit carpets are missing snaps atseveral locations.

Replace missing snaps.

C.7 (PAGE 12) LUBRICATION:FINDINGS RECOMMENDATIONS

As the entire maintenance history of theboat is unknown, the surveyorrecommends that oil and filters bechanged at earliest opportunity.

Follow manufacturer's recommended types,quantities and service intervals.

C.8 (PAGE 22) NUMBER AND TYPE OF PFD'S:FINDINGS RECOMMENDATIONS

USCG requires an approved PFD foreveryone onboard while underway.Regulations also require that the PFD bereadily available. Stored underneathseats or in holds does not comply with theregulation.

Relocate PFD's to insure they are readilyavailable and in compliance with regulations.

C.9 (PAGE 23) SMOKE DETECTOR:FINDINGS RECOMMENDATIONS

No Smoke Detectors were observedduring the survey, these safety devices arehighly recommended.

Install as recommended and test monthly.

C.10 (PAGE 23) BILGE WATER ALARM AND SAFETY SWITCHES:FINDINGS RECOMMENDATIONS

No bilge alarm system installed. Recommend installing Audible Bilge alarmsystem.

C.11 (PAGE 24) TRANSOM LIGHTS:FINDINGS RECOMMENDATIONS

The vessel is fitted with two downwardpointing LED transom lights. The port sideoperate, but starboard side is only half lit.

Investigate and repair as required.

C.12 (PAGE 24) CONDITION OF BOTTOM PAINT:FINDINGS RECOMMENDATIONSBottom paint is freshwater type and in faircondition. Broker reports that it wasrepainted last year. Buyer states that boatwill be dry stored and that salt watercompatible bottom paint will not benecessary for short periods that boat is inthe water.

Recommend repainting bottom with salt watercompatible paint at earliest possible time orsooner if decision is made to keep boat inwater full time.

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NOTE: If cruising more than 25 nautical miles offshore it is also recommended that aUSCG approved self-inflating life raft be fitted to the vessel. And a first aid kit and smallmanual watermaker be added to the ships safety gear.

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V. SUMMARY AND VALUATION

Page 33 of 42" Removed for Pr ivacy"surveyed by Tipton Marine Surveys

Lenoir City, TN 37771

STATEMENT OF OVERALL VESSEL RATING OF CONDITION:

It is the surveyor's training and experience that develops an opinion of the OVERALL VESSEL RATINGOF CONDITION after the survey has been completed and the findings have been organized in alogical manner.

The grading of condition, developed by BUC RESEARCH, and accepted in the marine industry, for avessel at the time of survey, determines the adjustment to the range of base values in the BUC USEDBOAT PRICE GUIDE, for a similar vessel sold within a given time period, as a consideration todetermine 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 thanfactory new - and loaded with extras - a rarity.

''ABOVE AVERAGE (BUC) CONDITION'' - Has had above average care and equipped with extraelectrical and electronic gear.

''AVERAGE (BUC) CONDITION'' - Ready for sale requiring no additional work and normally equippedfor 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 usablecondition.

As a result of my investigation, as shown in the SYSTEMS AND FINDINGS ANDRECOMMENDATIONS section of this REPORT OF SURVEY, and by virtue of my experience andtraining it is my opinion that the "Removed for Privacy" should be considered to have an

OVERALL VESSEL RATING:

AVERAGE (BUC) CONDITION

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STATEMENT OF VALUATION:

1. The ''FAIR MARKET VALUE'' is the most probable price in terms of money which a vessel shouldbring 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 titlefrom 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 bestinterest.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 comparablethereto; ande. The price represents a normal consideration for the vessel sold unaffected by special or creativefinancing or sales concessions granted by anyone associated with the sale.

VALUATION METHODOLOGY:The following method of valuation was used to obtain the FAIR MARKET VALUE (FMV) of the vessel.Queries were submitted to BUC.com, Soldboats.com and Yachtworld for boats matching thedescription 2005 Rinker 342 which resulted in several comparable boats for each data source. Thesurvey boat has two features that have a positive impact on its value; the first is it is a fresh water boat.Due to the corrosive nature of the salt water environment, freshwater boats bring a premium pricewhen compared to their saltwater peers. The second feature is the powerplant, the survey boat ispowered by twin Mercruiser 350 MPI Horizon engines producing 300 HP a significant upgrade over thestandard equipment 280 HP Volvo engines.

The valuation will begin with Soldboats.com:

Soldboats.com - Query Parameters: Used, Rinker, Power, 34', 2005, Sold between 1/1/13 and 5/31/14Boat # Length Year Model List Price Sale Price Location Powerplant1* 34' 2005 320 $54,995 $32,000 Florida2 34' 2005 342 $65,000 $59,000 North Carolina Volvo 5.73 34' 2005 342 $74,900 $72,000 Illinois Mercruiser 350MPI Horizon4 34' 2005 342 $73,995 $59,500 Florida Mercruiser 350MPI Horizon5 34' 2005 342 $72,900 $67,500 New Jersey Not specified

Yachtworld.com - Query Parameters: Used, Power, Rinker, 34'-35',2005, North AmericaBoat # Length Year Model List Price Sale Price Location Powerplant6 34' 2005 342 $99,900 _______ New Jersey Volvo

7 34' 2005 342 $99,850 _______ Michigan Mercruiser 350MPI Horizon8 34' 2005 342 $84,900 _______ Maryland Volvo9 34' 2005 342 $71,900 _______ South Carolina Volvo10 34' 2005 342 $67,900 _______ Florida Volvo11 34' 2005 342 $78,900 _______ New York Volvo12 34' 2005 342 $80,000 _______ Iowa Mercruiser 350MPI Horizon

*Boat # 1, a 32' model boat is incorrectly categorized in Soldboats and must be eliminated to maintain

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integrity of the data.

Unfortunately, Soldboats data did not produce a sufficient number of recent comparable boats to provea solid valuation of a premium for vessels that are both freshwater and having the desired Mercurypowerplant. To do that properly we must bring more boats into the analysis by considering the listedcomparables in the Yachtworld query. Doing this provides us with a pool of eleven (11) boats for

analysis. To obtain the value of the premium, we must consider boat numbers 3,7,11 and 12 by virtueof their location as being freshwater boats, all others are considered saltwater. Boats 3,4,7 and 12possess the desired powerplant, and boats 3,7 and 12 possess both characteristics. Averaging outthe list prices for each characteristic group produces the following results:

Characteristic # of Boats Avg List Premium ValueAll Boats 11 $79,186 ------------Freshwater 4 $83,412 $4,227Mercury 4 $82,186 $3,000Freshwater & Mercury 3 $84,917 $5,731

The data indicates that a boat that is freshwater and possessing the desired Mercury powerplantenjoys a list price premium of $5,731 over the average list price. If you calculate the average saleprice produced by the Soldboats data the result is $64,500. Add to that, the premium value of being afreshwater boat with the Mercury powerplant yields an average sale price or Fair Market Value (FMV) o$70,231. This analysis is further supported by BUC.com's valuation which follows:

BUC.com - Query Parameters: Rinker, Power, Length 34, Year 2005, inboard/outboard, two engines,Mercruiser 350 MPI Horizon, BUC Condition, RegionCurrent Retail Value Range $67,400-$74,100Fair Retail Value adjusted for BUC Condition in the South Atlantic & Florida Region $67,000-$73,600

Therefore, after consideration of the reliability of the data, it is your surveyor's opinion that the ''FAIRMARKET VALUE''of the subject vessel is:

$70,231Seventy Thousand Two Hundred Thirty One Dollars

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

$305,000Three Hundred Five Thousand Dollars

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SUMMARY:

In accordance with the request for a marine survey of the "Removed for Privacy" for the purpose ofevaluating its present condition and estimating its Fair Market Value and Replacement Cost, I herewithsubmit my conclusion based on the preceding report. The subject vessel was personally inspected bythe undersigned on May 13, 2014 from 09:45 to 16:45 and was found to be a well constructed vessel. Iis outfitted with the standard and optional equipment normally found in a vessel of its size and purpose.The "Removed for Privacy" has been well maintained resulting in it's good condition for a vessel of itsage.

Subject to the correction of any deficiencies listed in section IV A. (Safety), the vessel is considered tobe suitable for its intended use of Recreational near coastal cruising.. Any other deficiencies listedshould 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 andlimiting 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 nopersonal 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 ordirection in value that favors the cause of the client, the amount of the value estimate, the attainment ofa 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:

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VI. PHOTOGRAPHS


Hull Identification Number Starboard Quarter

Port Quarter Port Bow

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VI. PHOTOGRAPHS


Starboard Bow Helm

Port side Seat Wet Bar

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VI. PHOTOGRAPHS


Aft Seat Forward Berth

Main Electrical Panel Galley

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VI. PHOTOGRAPHS


Dinette Aft Berth

Head Head Sink

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VI. PHOTOGRAPHS


Hauled - Bow View Hauled - Port Quarter

Hauled - Starboard Quarter Hauled - Starboard Bow

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VI. PHOTOGRAPHS

Hauled - Port Bow Hauled - Outdrives

sample rinker 342 2014

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