Edwards Marine Survey LLC

MARINE SURVEY REPORT

Condition and Valuation

2007 Nordhavn 55

M/V “XXXXXXX”
Report prepared exclusively for – XXXX XXXXX
Date of survey inspection – July 17, 2019

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Scope of Survey
This marine survey inspection of the 2007 Nordhavn 55 M/V “XXXXXXX” was performed on July 17, 2019. The survey
took place in the water moored at XXXXX XXXXXX, XXXXXXXX, WA. The out of water inspection of the wetted surfaces
took place at XXXXXXXXXXXXXXX, XXXXXXXXXX, WA. The vessel demonstration took place on a temperate day with calm
sea conditions in the Puget Sound out of XXXXXXXXXXX, WA. Parties in attendance of vessel demonstration were Ed
Gonsorowski, the undersigned surveyor, XXXX XXXXX, prospective purchaser, and XXXX XXXXXX XXXXXX. The purpose of
this marine survey is to ascertain the physical condition and estimated fair market value at the request of XXXX XXXXX,
prospective purchaser. No electrical survey was performed. A mechanical survey was performed by XX XXXXXXXXXX
XXXXX.

The testing procedures used to perform the survey were non-destructive. Testing methods used but not limited to are
visual, soundings, and moisture meter readings. The moisture meter used during the inspection was a GE Aquant
Protimeter. Structure deficiencies specified in the report, if any, are observations that may require further investigation
using destructive testing techniques to determine the extent of the deficiency in question and to determine a plan for
repair if deemed necessary by a qualified technician or reputable full-service boatyard.

Unless otherwise stated mechanical systems such as engines and generators are not thoroughly examined and are only
visually inspected for apparent deficiencies.

Deficiencies noted during the examination process are in the opinion of the surveyor and may require further evaluation
by a qualified technician. Internal condition of mechanical systems is indiscernible without complete disassembly which
are not performed during this survey.

AC & DC power sources were used to test electronic equipment.

Tankage such as fuel, fresh water, grey water, black water, etc. are visually inspected where accessible. Inaccessible
tankage areas are not evaluated, nor are tankage interiors. The surveyor is not able to comment on the condition of
inaccessible areas of tankage systems.

The surveyor does not make any determination or representation of seaworthiness, stability characteristics or inherent
structural integrity and no opinion is expressed or implied regarding such.

If a component is not identified in this report, it was not inspected.

Although specific recommendations may be made, this survey will be a general survey only; unless specifically identified
otherwise.

This survey was completed using as reference the federal regulations and amendments issued and enforced by the USCG
under the authority of Title 33 & 46 of the United States Code of Federal Regulations (CFR’S). In addition, the American
Boat and Yacht Council (ABYC) and National Fire Protection Association (NFPA-302) voluntary standards were used as
reference during the survey.

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Conduct of Survey
This vessel was surveyed without removal or disassembly of parts including fittings, tacked carpet, fastened boards,
fixed partitions, anchors and chain, instruments, clothing, gear, spare parts and miscellaneous materials in the bilge and
lockers or other fixed or semi-fixed items. Sealed compartments or otherwise inaccessible areas would also preclude
inspection.

The user of this survey is advised that this will be a limited report. Surveys by nature are limited and are not considered
to be a complete examination. The inspection process, manner of presentation of the vessel for inspection, possibility of
latent conditions, errors and omissions by the surveyor may exist. Accordingly, no guarantee or warranty expressed or
implied will be given or made. All statements and comments are opinions only, and no statement shall be basis for any
claim against the surveyor based on warranty or guarantee.

In the event of dissatisfaction with the conduct of this marine survey, with regards to errors contained in the report, or
by omission of information, the surveyor shall correct the report. The sole and maximum remedy shall be limited to the
amount of the fee received for the report.

GENERAL INFORMATION
Survey Report Number 19030
Type of Survey Condition and Valuation Pre-Purchase
Vessels Intended Use Recreation
Waters to be Navigated All Navigable Waters
Vessel Name “XXXXXXX”
Hailing Port Seattle, WA
Documentation Number No. XXXXXXX
Hull Identification Number (HIN) XXXXXXXXXXXX
WA Registration (WN) Expired June 2019
Manufactured By Pacific Asian Enterprises (PAE)
Build Location Xiamen, China
Model Year 2007
Make/ Model Nordhavn 55
Hull Material Fiberglass/ Fiber Reinforced Plastic (FRP)
Hull Type Displacement
Length Over All (LOA) 56’ 1” As per Powerboat Guide
Beam 18’ As per Powerboat Guide
Draft Down 6’ 6” As per Powerboat Guide
Weight (Dry) 115,000 Lbs. As per Powerboat Guide
Current Registered Owner XXXX XXXXX
Estimated Fair Market Value (FMV) $1,250,000
Estimated Replacement Value $2,300,000

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VESSEL DISCRIPTION- (PICTURES AT END OF REPORT)

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SAFETY EQUIPMENT AND PROVISIONS

Personal Flotation Devices (8) Type I PFD Serviceable Condition
Throwable Floatation Devices (1) Type IV PDF- Serviceable Condition
Visual Distress Signals/ Flare Kits Yes, Expired 11/2017 *See Deficiencies*
Fire Extinguishers (4) USCG Type B-I Gauge in Green Not Tagged *See Deficiencies*
Automatic Fire Extinguisher (Fixed) (2) Sea-Fire FM-200 Service Tag Expired *See Deficiencies*
Sound Devices Horn Operational
Navigation Lights Operational/ Could not Access to View Masthead and All-Round
Light/ Recommend Verify During Low Light Hours
Unassisted Re-Boarding Ladder *See Deficiencies*
High Bilge Water Alarm Powered on When Tested
Carbon Monoxide Alarm Not Sighted *See Deficiencies*
Bilge Pumps and Auto Float Switches (2) 24VDC Powers on When Tested Remote/ Recommend Flood
Bilge W/ Water to Verify Auto-Floats and Pumps are Operational
Manual Bilge Pumps Yes, Not Tested
Escape Hatch Yes
Smoke- Combustible Vapors Detector Not Tested
USCG-Inland Navigational Rules (Vessels 40’ Not Sighted/ Recommend Equip Vessel as per USCG Requirements
and over)
Lifelines- Harnesses N/A
USCG Placards- Oil Discharge and Garbage Rule Yes
Carbon Monoxide Warning Sticker Not Sighted *WA. State Requirement*
33 CFR 151.57 Waste Management Plan for Not Sighted- Recommend Equip Vessel with Written Garbage Plan
Vessels 40’ or Larger
Life Raft Switlik Six Person Inflatable Life Raft *See Deficiencies*
EPIRB ACR Electronics Global Fix/ *See Deficiencies*
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GENERAL RECREATIONAL VESSEL SAFFTEY REQUIRMENTS AND RECOMMENDATIONS

✓ It is the owner/ operator’s responsibility to ensure that the vessel is outfitted with safety equipment in
accordance with Federal and State Regulations. You may find more information showing Washington State
Required Equipment Checklist at the following link.
https://www.boat-ed.com/washington/handbook/page/61/Washington-Required-Equipment-Checklist/
✓ It is recommended the owner/ operators ensure the vessel is equipped with a Carbon Monoxide Detection
system/ alarm, in accordance with ABYC recommendation detailed at the following link.
http://abycinc.org/mpage/CarbonMonoxide
✓ It is the owner/ operator’s responsibility to ensure that the vessel is equipped with Fire Extinguishing
Equipment in accordance with the USCG Code of Federal Regulations and the National Fire Protection
Association (NFPA 302). Helpful information is available at the following link.
https://www.boatus.org/fire-extinguishers/
✓ The following link is an (at a glance) Quick Reference Guide to USCG Minimum Requirements for Recreational
Vessels.
https://www.usps.org/national/vsc/conductvsc_files/USCGMinReq_2012.pdf
✓ The following link will access the pamphlet “A BOATERS GUIDE TO THE FEDERAL REQUIREMENTS FOR
RECREATIONAL BOATERS” published by the USCG boating safety division. It is the vessel operator’s
responsibility to ensure that the vessel is outfitted in accordance with the USCG regulations.
https://www.uscgboating.org/images/420.PDF

✓ Kidde fire extinguisher recall Remember to check the recall notice issued by the Consumer Product Safety
Commission pertaining to certain Kiddie branded fire extinguishers. If you find that you have one of these on
your boat, then you should seek out replacement ASAP.
https://www.cpsc.gov/Recalls/2017/kidde-recalls-fire-extinguishers-with-plastic-handles-due-to-failure-to-
discharge-and

STRUCTURES

Hull Structure Cosmetically Average/ No Defects Sighted

Superstructure Cosmetically Above Average/ No Defects Sighted
Deck Structure Cosmetically Above Average/ No Defects Sighted
Transom Cosmetically Average/ No Defects Sighted
Hull to Deck Joint No Evidence of Deficiencies Where Accessible
Bulkheads *See Deficiencies*
Stringers No Evidence of Deficiencies Where Accessible
Windows, Portlights and Hatches Cosmetically Above Average/ No Defects Sighted
Railings Cosmetically Above Average
Deck Cleats No Evidence of Deficiencies
Anti-Fouling Bottom Paint Adequate for Intended Purpose

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PROPULSION SYSTEM

Main Engine Make/ Model Lugger/ L1276 A2- Serviceable Condition

Serial Number XXXXX
Rated Power Output 340HP
Fuel Type Diesel
Cooling Fresh Water Keel Cooling *See Deficiencies*
Exhaust Dry Exhaust *See Deficiencies*
Engine Hours 5456 (Digital Gauge)
Mounts Satisfactory
Transmission Make/ Model Twin Disc MG5091SC- Functioned Satisfactory
Ratio 2.95:1
Description Straight Drive Reduction Gear
Serial Number XXXXX
Auxiliary Engine (Wing Engine) Lugger L984D- Serviceable Condition
Serial Number XXXXX
Rated Power Output 70HP
Fuel Type Diesel
Cooling Fresh Water Heat Exchanger Cooled *See Deficiencies*
Exhaust Marine Wet Exhaust/ No Apparent Defects
Engine Hours 116 (Analog gauge)
Mounts Satisfactory
Transmission Make/ Model ZF 63 IV
Ratio 2.5:1
Description V-drive Reduction Gear
Serial Number XXXXX

GENERATOR DETAILS

Unit Make/ Model Northern Lights/ M844LW2- Serviceable Condition

Serial Number XXXXX
Rated Output 20 Kilowatts (KW)
Fuel Type Diesel
Cooling Freshwater Heat Exchanger Cooled- No Apparent Defects
Exhaust Wet Exhaust- No Apparent Defects
Unit Hours 4558 (Analog Gauge)

PROPULSION CONTROL SYSTEM

Main Engine Description 24VDC Electronic Control/ Single Lever/ Operational With no Apparent
Defects
Make/ Model ZF/ Clear Command
Auxiliary Engine Description Duel Lever Manual Push/ Pull Cables
Make/ Model Morse
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RUNNING GEAR DETAILS

Propeller Shaft Size/ Type 3” Stainless Steel- No Apparent Defects

Prop Size/ Type 40” X 33.41”/ 5-Blade HUNG SHEN Bronze- No Apparent Defects
Propeller Rotation Left Hand
Rudder FRP (Fiberglass) Unbalanced/ Shoe Support- No Apparent Defects
Propeller Shaft Seal Type Traditional Flax Packing/ No Defects Observed/ Recommend Check and
Adjust Periodically
Rudder Shaft Seal Type Traditional Flax Packing/ No Defects Observed/ Recommend Check and
Adjust Periodically

CORROSION CONTROL SYSTEM

Sacrificial Anodes Wasted Condition/ Recommend Renew all Anodes

Bonding System Connected- Serviceable Condition

STEERING SYSTEM

Number of Stations (2) Operational- No Evident Defects

Type Hydraulic
Make/ Model Hynautic/ R-12
Auto Pilot 24VDC Simrad- Operational

FUEL SYSTEM DETAILS

Fuel Type Diesel

Number of Fuel Tanks & Location
Tank Material
Total Fuel Capacity Total
Fuel Supply & Return Type
Engine Fuel (All) Filter Make/ Model
Fuel Gauges/ Sight Tubes
Fuel Polishing System
(2) Forward (2) Midship Outboard of Main Engine (1) Fore of Engine and
(1) Aft of Engine Day Tanks
(4) FRP (Fiberglass) Integral (2) Steel Day Tanks/ No Defects Sighted
Where Observed
2250 Total US Gal. As per Vessel Specs.
USCG Type A-1, Aeroquip/ No Apparent Defects Where Observed
Racor Water Separating Fuel Filters
Yes, Analog Gauge Not Tested for Accuracy
24VDC Racor Water Separating Fuel Filter

FRESH (POTABLE) WATER SYSTEM DETAILS

Number of Tanks/ Material (1) FRP (Fiberglass) Integral Forward Bilge- No Defects Observed
Total Water Capacity 600 Total US Gal. As per Powerboat Guide
Water Heaters (1) 240VAC Torrid/ Powers on/ No Defects Observed
Water Heater Capacity 40 US Gallons
Tank Level Gauge Yes, Powers on- Not Tested for Accuracy

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BLACK WATER SYSTEM DETAILS

Number of Tanks/ Material (1) FRP (Fiberglass) Integral Forward Bilge- No Defects Observed
Total Capacity 120 US Gal. As per Powerboat Guide
Head (Toilet) Type (3) 24VDC Tecma Macerator Type/ All Operational
Water Type Fresh
Tank Level Gauge Powers on- Not Tested for Accuracy

PUMP SYSTEM DETAILS

Bilge Pumps Qty. Float Switches
Shower Drain/ Sump
Fresh Water Pump (Potable Water)
Cockpit Shower
Black Water Discharge Pump Overboard
(2) 24VDC Powers on When Tested Remote/ Recommend Flood Bilge W/
Water to Verify Auto-Floats and Pumps are Operational
24VDC Sealand/ Operation Tested Manually/ Auto Function not Tested
120VAC Headhunter Mach 5/ Operational
Yes
Sealand 24VDC Not Tested-No Discharge Zone (NDZ)

THRU HULL FITTINGS BELOW WATERLINE

Thru-Hull Material/ Condition Bronze/ Adequate for Intended Purpose

Seacock Type Ball Valve/ *See Deficiencies*
Seacock Material Bronze

GROUND TACKLE DETAILS

Anchor (1) Galvanized Steel, Plow Type

Anchor Chain Galvanized Steel 1/2” 400’+ Estimated
Anchor Rode Due for Replacement/ Aging
Anchor Windlass 24VDC Maxwell VWC4000/ Operational

NAVIGATIONAL EQUIPMENT AND ELECTRONICS DETAILS

GPS- Chart Plotter-Depth-Radar (5) Furuno (2) Twin Furuno Radar (2) Furuno AIS (2) Furuno Sat. Compass
(2) Furuno RD33 Nav. Data Organizer/ All Powered on
VHF Radio (3) Icom M604 -Powers On
Sat. Phone (1) Iridium/ Not Tested
Compass (2) Ritchie Magnetic/ Not Tested for Accuracy
Auto-Pilot (2) Simrad AP50/ Powers on

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APPLIANCE DETAILS

Refrigerator/ Freezer (1) Sub-Zero Fridge/ Freezer 120VAC/ Powers on

Deep Freezer (1) Unknown Make/ Powers on
Trash Compactor 120VAC GE Profile/ Powers on
Stovetop GE Profile/ Propane/ Powers on
Washer/ Dryer (1) 120VAC Bosch Washer/ Powers on (1) 120VAC Bosch Drier/ Powers on
Microwave/ Convection Oven 120VAC GE Profile/ Powers on
Dishwasher 120VAC GE Profile/ Powers on
Oven 120VAC GE Profile/ Powers on

TENDER DAVIT SYSTEM DETAILS

Davit Make/ Model Steelhead Marine/ SM1500R *See Deficiencies*

Description
Tender Type/ Make/ Model
Hull ID Number (HIN)
Outboard Motor Make/ Model
Serial Number
Fuel Type
Tender Type/ Make/ Model
Hull ID Number (HIN)
Outboard Motor Make/ Model
Serial Number
24VDC Hydraulic Pump/ 24VDC Wench
RIB/ Fiberglass Hull Center Console / Caribe Nautica Inflatable/ No
Apparent Defects
XXXXXXXXXXXX
Yamaha F40BTLR 40HP Four Stroke/ Not Tested
XXXXX
Gas
RIB/ Aluminum Hull/ Aquapro SMR860/ No Apparent Defects
XXXXXXXXXXXX
Yamaha 8HP/ Not Tested
XXXXX

ADDITIONAL EQUIPMENT OBSERVED

Stereo 24VDC Not Sighted/ Tested with Remote/ Powers on

Satellite Radio Not Tested
Search Light 24VDC ACR Electronics/ Powers on
TV 120VAC Sony/ Powers On
DVD 120VAC Sony/ Not Tested
HVAC (2) 10000BTU (2) 30000BTU Cruisair 240VAC - Operational
Water Maker 120VAC Spectra MPC-5000/ Not Tested
Fuel Polishing System 24VDC Pump/ Racor Water Separating Fuel Filter
Oil Change System 24VDC Groco/ Not Tested
Dive Tank Compressor 120VAC Bauer Compressors/ Not Tested
Video Monitoring System Furuno/ Operational

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STABILIZER SYSTEM DETAILS

Make/ Model ABT-TRAC Digital Stabilizers/ 250/ Operational/ No Apparent Defects

Description 24VDC/ Main Engine Driven Hydraulic Pump

THRUSTER SYSTEM DETAILS

Make/ Model (2) Side Power/ SP240TCI/ Operational/ No Apparent Defects

Description 24VDC Electric Bow and Stern Thruster
Power Source (2) Lifeline AGM 8-D Batteries/ Bow and Stern

AC/ DC POWER SYSTEMS DETAILS

AC System Voltage 120/ 240VAC

AC Circuit Protection Circuit Breakers
DC System Voltage 24VDC
DC Circuit Protection Circuit Breakers/ Fuses
Shore Power Inlet Marinco Fore and Aft (1) 30AMP/ 125VAC- (2) 50AMP/ 240VAC
Battery Charger Victron Energy 120VAC Input/ Output 24VDC/ 100AMP/ Powers on
Solar Panels (6) Panels/ Blue Sky Solar Boost 3024i/ Powers on
Inverter Charger Xantrex SW4024MC2 4000 Watt Continuous/ Input 24VDC/ Output120VAC 33AMP/ Charger
Output 24VDC 120AMP/ Powers on
Battery Details (8) 12VDC Lifeline AGM 8D (Age Unknown) Configured Series Parallel 24VDC/ (1) Stern
Thruster Bank (1) Bow Thruster Bank (1) House Bank (1) Inverter Bank
(2) 12VDC Lifeline AGM 4D (Age Unknown) Configured Series Parallel 24VDC Engine Start
Bank
(2) 12VDC Lifeline AGM Group 31 (Age Unknown) Configured Series Parallel 24VDC Auxiliary
(Wing) Engine/ Generator Start Bank

VESSEL DEMONSTRATION RESULTS

Cruise Speed/ Wide Open Throttle (WOT)
Speed
Oil Pressure Cruise/ WOT
Temperature Cruise/ WOT
RPM Cruise/ WOT
8/ 10 Knots (Approximate) Speed Over Ground (SOG) Actual Speed Will
Vary Depending on Wind, Tide and Currents. Data Obtained from Vessels
Electronics
50PSI Approximate) Cruise and WOT
180 Deg. Fahrenheit (Approximate) Cruise and WOT
1400/ 1800 RPM’S (Approximately)

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DEFICENCYS FINDINGS AND RECOMMENDATIONS

Deficiencies that were found by the marine surveyor are separated into four categories detailed below. Other
deficiencies may exist that are either undetectable, inaccessible or may have not been observed by the marine surveyor.

SAFETY RELATED DEFICIENCIES

Safety related deficiencies requiring immediate action. If safety related deficiencies are found, they will be highlighted in
red.

DEFICIENCIES REQUIRING ATTENTION

Deficiencies requiring attention are recommended by the surveyor to be corrected in a timely manner to avoid system,
structure, or equipment failure.

GENERAL NOTES AND OBSERVATIONS

Minor deficiencies that do not require immediate attention or repair, usually cosmetic.

ABYC RECOMMENDATIONS

Recommendations published by the American Boat & Yacht Council. These recommendations are voluntary, but highly
recommended.

DEFICIENCIES AND RECOMMENDATIONS THAT ARE DEEMED BY THE SURVEYOR TO NEED ATTENTION OR
REPAIR ARE RECOMMENDED TO BE PERFORMED BY QUALIFIED SERVICE PERSONNEL

SAFETY RELATED DEFICIENCIES

1. FIXED AUTOMATIC FIRE EXTINUISHER: Located in the engine room and lazarette were tagged but had expired
dates. According to the NFPA-302 standards annex B.4.7: All fixed systems, if installed, should be maintained on at
least an annual basis in accordance with the manufactures maintenance manual. It is recommended that a fixed
system be maintained by a qualified fixed system service person. Recommend service and tag annually as per
NFPA-302 standards.

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2. HAND-HELD FIRE EXTINGUISHERS: Sighted aboard were tagged but the dates were expired. Recommend service
and tag all extinguishers annually as per NFPA-302 recommendations to ensure reliability. USCG requires vessels
40’ to 65’ have two B-1 or one B-2 that are equipped with a fixed automatic fire extinguishing system. Recommend
service all handheld fire extinguishers and maintain annually as per NFPA-302. Label any lockers which contain fire
extinguishers.
3. CARBON MONOXIDE DETECTORS: CO detectors were not sighted aboard vessel. According to ABYC H-24: CO
detectors must be marked with the following: Name of Certifying Body. Replace by date – MM/YYYY or replace by:
XX months after retail sale as determined by the manufacturer. Furthermore, Underwriters Laboratories (UL)
instituted a mandate outlining CO detectors for boats be replaced every 5 years and as of 2010, hardwired CO
detectors have an end of life alarm on all new units sold. Recommend install marine grade CO detectors in all living
quarters.
4. VISUAL DISTRESS SIGNAL FLARES: Were aboard but were past their expiration date. USCG requires a minimum of
three day-use and three night-use or three day/ night combination pyrotechnic devices. Non-pyrotechnic
substitutes: 1 orange flag (day-use) and 1 electric S-O-S signal light (night-use). Recommend equip vessel as
required by the USCG.
5. UNASSISTED RE-BOARDING LADDER: The boat has a reboarding ladder but cannot be obtained unassisted
because the latch is too high to reach by persons in the water. According to ABYC H-41: Means of unassisted
reboarding shall be provided on all boats. The reboarding means shall be accessible to, and deployable by the
person in the water. Recommend refit or install a means of unassisted reboarding according to ABYC H-41
standards.

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6. EMERGENCY LIFE RAFT: The throw over automatic inflatable life raft had no service tag. Recommend have life
raft serviced by qualified service personnel as per manufacture recommend service interval (annually).

7. (LPG) PROPANE CYLINDER STORAGE: Propane cylinder used for the BBQ was stored in an unapproved unvented
to atmosphere compartment and was not secured. Recommend store in an ABYC A-1 approved storage locker.
The propane storage locker at aft port side of vessel has had the vent that allows possibly leaked gas to vent to
atmosphere blocked by an added drain hose for a fishing rod holder. Recommend remove hose blocking drain to
allow for proper ventilation to atmosphere.
8. GASOLINE FILL: There is a gasoline fill located at the aft wet bar that leads into the storage cabinet below with
no tank. This could be inadvertently filled causing gas to flood the cabinet or possibly run into the bilge causing a
fire hazard. Recommend remove unused gas fill or seal off so inadvertent spillage cannot occur.

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9. EMERGENCY POSITION INDICATING RADIOBEACON (EPIRB): Shows the battery date has expired 10/2017.
Recommend perform maintenance recommended by manufacturer.

DEFICIENCIES REQUIRING ATTENTION

10. MAIN ENGINE KEEL COOLER: Is actively leaking sea water where the keel cooler connections (thru-hull) pass
through the hull and connect to the exterior keel cooler. Recommend repair sea water leakage as required.

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11. TENDER DAVIT SYSTEM: Was operational when tested but did not fully retract. Recommend repair as required.

12. STEERING SYSTEM: Was found with 6psi of air. Manufacture recommends system to be maintained with 25-30
psi air pressure. Recommend top off to manufacture recommended pressure and monitor.

13. BULKHEAD NEEDS SERVICE: The fourth bulkhead aft of the bow showed elevated moisture when tested with a
moisture meter. Percussion hammer soundings were crisp and not dull indicating no decay or delamination.
Water entry is likely from unsealed unused holes drilled in the lower part of the bulkhead and compartment
sole. Recommend consult with a fiberglass boat repair facility for service and repair options. At minimum seal
unused holes in bulkhead and compartment sole.

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14. WATER MAKER/ WATER HEATER COMPARTMENT: When observed was wet with salty water residue
throughout. Source of water entry could not be located. Water maker digital screen read “relieve pressure
now”. Source is believed to be from the water maker at one point. Recommend have a qualified water maker
technician investigate possible water entry source.

15. SEA CHEST DUE FOR SERVICE: Aft port fittings (2) are corroded and actively leaking at the sea chest.
Recommend repair leaky corroded fittings as required.

16. BELOW WATERLINE SEACOCKS: Several seacocks were either unmovable or difficult to operate. Recommend
service, repair or renew unmovable or difficult to operate seacocks. Recommend exercise/ service all seacocks
now and at least annually thereafter.

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17. FUEL TANK(S) SIGHT TUBE: The starboard fuel tank outboard of main engine and the day tank forward of main
engine were leaking at the bottom of the sight tube. Recommend repair fuel leaks as required.

18. MAIN ENGINE EXHAUST LEAK: There is evidence (soot residue) of an exhaust leak at the turbocharger to the dry
stack exhaust system. Recommend clean soot residue and repair exhaust leak as required.

19. GENERATOR SOUND ENCLOSURE: The sound enclosure noise reducing foam insulation has deteriorated and is
falling off. Recommend renew noise reducing foam insulation as required.

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20. GENERATOR OIL LEAK: Oil was sighted in drip pan of generator and running out of drip pan to port. Source of
leak was not determined at survey. Recommend clean up oil residue and repair leak as required.

21. AUXILIARY (WING) ENGINE HEAT EXCHANGER DUE FOR SERVICE: The heat exchanger showed signs of leakage
and corrosion indicating need for service. Recommend rebuild or renew the heat exchanger as required.

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22. AUXILIARY (WING) ENGINE SEA WATER PUMP DUE FOR SERVICE: The sea water pump showed signs of leakage
at seals. Recommend rebuild renew sea water pump as required.

GENERAL NOTES AND OBSERVATIONS

• Anchor rode nylon rope is deteriorating due to age. Recommend renewal of nylon rode.

CONDITION

It is in the professional opinion of the marine surveyor and is based on individual experiences and knowledge in which
the condition is expressed. After surveying the subject vessel, the overall condition will be assessed by the marine
surveyor using the grading scale below.

EXCELLENT (BRISTOL) CONDITION: A boat that is in new or like new condition. Usually loaded with significant extras; a
rarity.

ABOVE AVERAGE CONDITION: Has had above average care, been well maintained and is usually equipped with extras.

AVERAGE CONDITION: Requiring very little or no additional work and normally equipped for her size.

BELOW AVERAGE CONDITON: Numerous deficiencies exist and will require significant maintenance to ensure safety and
reliability.

POOR CONDITION: Boat is not in usable condition and requires substantial repairs to bring it to a safe and reliable
operational condition.

During the conduct of this survey, all parts of the vessel accessible without removal of bulkheads, fastened partitions,
decks, etc., were carefully examined. Every effort was made to determine the vessels condition and fair market value
compared to similar vessels.

OVERALL VESSEL CONDITION: ABOVE AVERAGE

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SUMMARY

The vessel was found to be structurally sound and very well equipped for her intended service. Other than the
deficiencies noted, the vessel was found to be in above average overall condition. Mechanical systems appeared to be
well maintained, and in above average overall condition. Minor repairs observed, appeared to be performed in an
appropriate manner.

VALUATION

FAIR MARKET VALUE (FMV): The comparable vessel calculation is the most probable price in which a vessel should bring
in a competitive market under all condition’s requisite to a fair sale, the buyer and seller, each acting prudently,
knowledgeably and assuming the price is not affected by undue stimulus. Both parties are well informed or well advised,
and each is acting in what they consider their own best interest. It is an estimated price in which a vessel is valued
between an equally motivated buyer and seller. The FMV is effective as of the date the vessel was viewed by the
undersigned surveyor.

REPLACMENT COST: An estimated cost to replace the vessel with a similar sized and equipped vessel of the same
manufacture if possible.

ESTIMATED FAIR MARKET VALUE (FMV): $1,250,000

ESTIMATED REPLACEMENT COST: $2,300,000

Valuation Sources: Condition of vessel, options, and additions were used along with recently sold boats found on
Soldboats.com and using BucValuepro.com along with using similar boats currently listed for sale were used to
determine the FMV. Valuation is relevant the day the vessel was observed by the undersigned surveyor.

COMPARABLE SALES DATA

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Vessel Documentation Number No. XXXXXXX

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Hull Identification Number (HIN) XXXXXXXXXXXX

Tender Hull Identification Number (HIN) XXXXXXXXXXXX

Tender Hull Identification Number (HIN) (First Letter not Discernible) XXXXXXXXXXX

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CERFICATION STATEMENT

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 facts and conclusions are limited only by the reported assumptions, opinions, or limiting conditions, and
are of my personal, unbiased professional analyses.

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 estimate, the attainment of a
stipulated 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 should be considered as an entire document. No single section is meant to be used except as part of the
whole.

This report is submitted without prejudice and for the benefit of whom it may concern. This report does not constitute a
warranty, either expressed or implied. Further, it does not warrant the future condition of the vessel, latent defects, or
possible errors or omissions not observed by the undersigned surveyor. It is a statement of the condition of the vessel at
the time of the survey only.

7/20/2019
Ed Gonsorowski, Survey Associate (SA)
Society of Accredited Marine Surveyors (SAMS) Date Report Completed
Edwards Marine Survey, LLC
9611 241st PL SW
Edmonds, WA 98020
206-890-5777
https://edwardsmarinesurvey.com
edwardsmarinesurvey@comcast.net

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EXTERIOR ABOVE DECKS PICTURES

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PILOT HOUSE PICTURES

SALON AND GALLEY PICTURES

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MASTER STATEROOM AND HEAD PICTURES

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GUEST STAEROOMS AND HEAD PICTURES

CAPTAINS QUARTERS AND DAY HEAD PICTURES

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ELECTRICAL PANELS AND SWITCHES PICTURES

ENGINES AND GENERATOR PICTURES

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WETTED SURFACES AND RUNNING GEAR PICTURES

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BOW AND STERN THRUSTER PICTURES

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(2) TENDER AND DAVIT SYSTEM PICTURES

UPPER HELM STATION HAULOUT

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