northwest marine surveyors, llc 4234 soundview dr. w ...university place, wa98466 253-565-3926 fax...

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North west Marine Surveyors, LLC Page 10/14 Northwest Marine Surveyors, LLC MEMBER SOCIETY OF ACCREDITED MARINE SURVEYORS (S.A.M.S.®) 4234 Soundview Dr. W University Place, WA 98466 253-565-3926 Fax 253-565-3926 [email protected] THE MARINE SURVEY REPORT FOR THE VESSEl: SN "PAMPERO" 1964 43' Kettenburg K-43 L PREPARED BY: TERRY LARSON EXCLUSIVELY FOR: Robert Nelson MARINE SURVEY REPORT NO.: 1351

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Page 1: Northwest Marine Surveyors, LLC 4234 Soundview Dr. W ...University Place, WA98466 253-565-3926 Fax 253-565-3926 nwms@harbornet.com THE MARINE SURVEY REPORT FOR THE VESSEl: SN "PAMPERO"

North westMarine Surveyors, LLC Page 10/14

Northwest Marine Surveyors, LLCMEMBER SOCIETY OF ACCREDITED MARINE SURVEYORS (S.A.M.S.®)

4234 Soundview Dr. W

University Place, WA 98466

253-565-3926 Fax 253-565-3926

[email protected]

THEMARINE SURVEY REPORT

FOR THE VESSEl:

SN "PAMPERO" 1964 43' Kettenburg K-43L

PREPARED BY: TERRY LARSON

EXCLUSIVELY FOR: Robert Nelson

MARINE SURVEY REPORT NO.: 1351

Page 2: Northwest Marine Surveyors, LLC 4234 Soundview Dr. W ...University Place, WA98466 253-565-3926 Fax 253-565-3926 nwms@harbornet.com THE MARINE SURVEY REPORT FOR THE VESSEl: SN "PAMPERO"

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INTRODUCTION

This survey report is for the benefit of Robert Nelson only and may not be relied upon by any other person withoutwritten consent of the surveyor.

Scope of SurveyThis survey report represents the condition of the vessel as inspected by the undersigned surveyor on the date ofsurvey. This survey report makes no representation and does not purport to describe any condition which may havechanged since the date of the survey and the recommendations herein are limited to those that, in the opinion of thissurveyor, are reasonably necessary and appropriate, based upon the conditions and circumstances as they existed atthe time of the survey. This survey report has no force and effect after October 16,2009, and may not be relied uponfor any purpose after that date. Unless otherwise specifically requested and provided for and noted in the surveyreport, this survey is founded on a comprehensive inspection subject to the following listed exceptions:

• If this survey report does not discuss a specific item, equipment or machinery, it is not covered by the survey.• Permanently mounted bulkheads, ceilings, paneling and other portions ofthe vessel's structure are not opened.• Permanently mounted machinery, tanks and equipment are not dismantled to expose portions of the vessel

ordinarily concealed.• Propulsion machinery, auxiliaries, electrical and electronic circuits and equipment, tanks, tenders, plumbing

systems and fittings, miscellaneous equipment, sails and rigging are not analyzed, traced, tested, or opened forinternal inspection.

• Borings and non-destructive test procedures are not conducted to determine thickness or internal condition ofstructural members.

• No determination of stability characteristics is made and no opinion is expressed.

Included in the assessment of values of the vessel is all that belongs to the vessel and may be presumed to be theproperty of the owner, including (but not limited to) the hull, machinery, equipment, sails and rigging, tenders,furnishings, and all that is onboard for the purpose of the use of the vessel, excepting only that which, in customaryusage, is considered personal property of the owner or crew or which specifically is excepted at the time of thesurvey. The market value quoted is the best estimate of the price a willing buyer would pay a willing seller, bothparties having reasonable access to the relevant facts, neither party under any compulsion to buy or sell, and undermarket conditions at the time and place of the survey.

The services rendered herein and the report rendered herewith are done with the distinct understanding that theundersigned is not responsible or liable under any circumstances whatsoever for any error, omission, negligence orfaiJure to properly perform the requested services and that all matters and statements contained in this report are ofopinion only. They are not to be construed as representations, warranties or guarantees. No statement made hereinor with services performed hereunder or work done in connection herewith shall be the basis for any claim, demandor action against the undersigned. If the work performed is deficient in any material respect, the surveyor shallcorrect his report or refund the fee paid. In no event shall he be liable for incidental and consequential damages, ordamages exceeding the fee actually received for the work.

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HULL CONDITION AND VALUE SURVEY

VESSEL NAME: "PAMERO" DESCRIPTION: SN 1964 43' Kettenburg K-43

HULL ID. NO.: Shows as the USCG Doc. #(295063). No State assigned HIN #

USCG DOC. NO.: 295063

STATE REG. NO. WN 6456 NX June 2010

CLIENT NAME: Robert Nelson

CLIENT ADDRESS: 7607 N. 10th, Tacoma, WA 98406

PHONE NO.: Res. Cell: 253-301-3346 Fax:

SURVEY REQUESTED BY:

Robert Nelson

VESSEL INTENDED SERVICE: Pleasure

WATERS TO BE NAVIGATED: Protected and coastal

PURPOSE OF SURVEY: Insurance update

LOCATION OF SURVEY: Open slip # A-47, Gig Harbor Marina, Gig Harbor, WA

DATE OF SURVEY: 10116/09 VESSEL AFLOAT: Yes HAULED OUT: No

PARTIES PRESENT: Owner: Robert Nelson

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HULL

MANUF ACTIJRED BY: Kettenburg Marine, San Diago

WOOD: All wood products:Hull: 1 '1." Honduras Mahoganycarvel planked. Frames: 2"X I'12" steam bent oak on I0" centers.Fiberglass over plywood. Floors:Apitong. Deck beams: fir.Cabin: Varnished Mahogany.Bulkheads: Marine plywood.Fasteners: Everdur bronze screws

L.O.A.: 42'8" LWL: 29'0"

ESCAPE HATCH(S): One forward

DISPLACEMENT: 27,000 #approximately

YEAR: 1964

FIBERGLASS: Fiberglass overplywood decks and cabin top

OTHER: No

BEAM: II '0" DRAFT: 6'2"

BALLAST: 7,750 # Lead outside HULL TYPE: Displacement, fullkeel rudder on skeg

NOTES: At the request of the owner, the below water huD was not inspected. Thesurvey conducted was an in-water survey only. With the use of a percussion hammerand a Electrophysics GRP 33 moisture meter, the above water huD was found to besound and free of damage or defects with less than the expected wear of a forty nveyear old boat and the following fmdings that do not affect the structural integrity of thevessel Found the IDN # not aff'"n:edto the upper starboard comer of the transom.Found soft wood at the P&S upper comers of the aft cockpit bulkhead adjacent themahogany coming. Found the below and above water hull with plank and framereplacements, refastening and refinishing in 2006. Found the above water hull, decksand cabin well maintained and in very good condition.

PROPULSION MACIDNERYNO. OF ENG.: (I) TYPE: Inline four cylinder

diesel

MODEL NO.:

SERIAL NO.

HOURS:

TRANSMISSION MAKE:

MODEL NO:

SERIAL NO.:

REDUCTION RATIO:

HP: 50 rated MAKE: Perkins

4-108

108UI055

4,148 recorded on hour meter

Borge Warner Velvet Drive

Not accessible for recording

No accessible for recording

1.91 to 1.0

YEAR: Not sighted

ENGINE COOLING TYPE: Fresh water heat exchangerFUEL TYPE: Diesel CARBURETOR? Fuel injected BACKFIRE ARRESTOR: N/AVENTILATION: Yes BLOWER: No NATURAL: Proper

NOTES: The propulsion machinery was not inspected or tested by this surveyor.

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EXHAUSTEXHAUST LOCATION: Through transomCLEAR OF WOODWORK?: Yes

HOSES DOUBLED CLAMPED?: No

NOTES: Found not all exhaust hose connections double clamped.exhaust cooling water" indicator.

MATERIAL: Spec. piping and hose

HEAT PROTECTION?: Yes

Found no "Loss of

UNDERWATER MACIDNERY (RUDDER(S), SHAFT(S), PROPELLER (S»

PROPELLER TYPEIMA TERIALISIZE:

NUMBER OF BLADES:AGE:SHAFTS SIWMA TERIAL:STRUTBEARING(TYPE/CONDITION):

NOTES: At the request of the owner, the boat was not dry docked in order to inspectthe underwater machinery.

BILGE PUMPSLOCATIONS: Deep bilge area

NO.: (4)

POWER DRIVEN: (3) 12V OC

TYPE: (3) Centrifugal. (1) With automatic float switch

HAND OPERA TED: Whale gusher manual

ENG.RM. & BILGE WELL KEPT?: Clean

NOTES: None.HOW VENTILATED?: Natural

TANKAGEFRESH WATER TANK(S)

NUMBER: (2) CAPACITY(S): 90 total MATERIAL: Monel(Reported)

CONDITION: Sound where SUPPLY LINES: Spec. hose SHUT OFF VALVES: Yesvisible for inspectionFILL LINE(S) LOCATION: Deck fills

NOTES: None.

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TANKAGE CONT'D

FUEL TANK(S)

NUMBER: (1)CONDITION: Sound andserviceable where visible forinspectionTANK(S) VENTED?: Yes TANK(S) GROUNDED? YesFILL LINE LOCATION: Deck fill FILL LINE(S) DOUBLE CLAMPED?: Not sightedNOTES: Found a portable propane fuel system in a starboard side cockpit locker withan electric shut off valve in the galley for the galley stove.

CAPACITY: 70 gal (Reported)SUPPLY LINES: Spec. hose

MATERIAL: MonelSHUT OFF VALVES: Yes

NUMBER: (1)CONDITION: Sound wherevisible for inspectionCAPACITY GAGE: No

HOLDING TANK(S):CAPACITY: 20 gal (Reported)LINES: Spec. sanitary hose

MATERIAL: PlasticSHUT OFF VAL YES: Yes

DISCHARGE LOCATION: To an amidships portside deckpump out fitting

NOTES: None.

PIPING SYSTEMSFRESH WATER SYSTEM

PRESSURIZED?: Yes LINES: Spec. copper tubing & CONDITION: Sound and serviceableS.s. stranded lines

HOT WATER HEATER: Seaward 110 V 6 gal with OPERATIONAL: Not testedheat exchanger

FUEL SYSTEMLINES: Spec. copper tubing and RETURN LINE: Spec. copperfuel hose tubing and fuel hose

CONDITION: Sound where visiblefor inspection

SHUT OFF VALVE: Yes ANTI-SIPHON: Yes

TYPE HEAD: Manual flushSANITARY SYSTEM(S)

LINES:Spec.sanitaryho~ CONDITION: Sound and serviceable

DISCHARGE: Directly LOCATION: Forward MSD TYPE: IIIoverboard or to the holding tankNOTES: Found the direct discharge Y-valve not secured in the direction of the holdingtank. Found the sewage direct discharge through hull valve not secured in the closedposition.

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DECK AND SAFETY EQUIPMENTANCHOR: 45 lbs CQR with 225' of 5116" galvanized chain. Spare anchors: (1) 22lbs Danforth with 300' of5/8" gold nylon rode. (I) "Sea Anchor".WINCHES: 12V Ideal anchor windlass

LIFE JACKETS: (6) Type II. (2) Type III (2) Suspender type Ill.

THROWABLE CUSHIONS: (2) CONDITION: Serviceable

HORSE SHOE BUOY: NO.: No CONDITION:

LOCATION: Bow

LOCATION:

LIFE SLING: NO.: No

LIFE RINGS: NO.: No

CONDITION:

CONDITION:

LOCATION:

LOCATION:

BELL: Yes HORN: Hand head FLARES: Exp. EPIRB: No LIFE RAFT: Yesair hom date 2013

SMOKE DETECTOR: NoCARBON MONOXIDE DETECTOR: NoCARBON MONOXIDE WARNING DECAL: YesMAN OVBO. POLE: No MAN OVBO LIGHT: No MAN OVBD STROBE: No

OIL DISCH. PLACARD: Yes GARBAGE PLACARD: Yes

NAVIGA TION LIGHTS: Proper ANCHOR LIGHTS: Yes

NOTES: Found no carbon monoxide or smoke detectors. Additional equipment:Emergency steering tiller.

GALLEYSTOVE: Gimbaled, propane two burner with oven OPERATIONAL?: Not testedREFRIGERATOR: 110 V Adler Barbour cold plate OPERATIONAL 1: YessystemHOT & COLD WATER: Yes STORAGE: AdequateMICROWAVE: Sharp MiniNOTES: Found the galley accommodating and in very good condition.

CABIN INTERIORGENERAL LAYOUT: Most forward is the chain locker followed by a private V-berth stateroom. Heading aft toport is an enclosed head/shower and across is a hanging locker and drawers. Continuing aft is the salon fitted with astarboard side convertible settee followed by a navigation station and then a quarter berth. Across to port is a U-shaped convertible dinette followed by a U- shaped galley. Heading aft, up steps, out of the salon, is the cockpitfitted with a spray dodger, padded P&S guest seats with storage lockers beneath, a centerline helm station withcollapsible table and a lazarette being most aft.

BERTHS: (8) CUSHIONS: Yes CURTAINS: Yes CARPET: Throw rugs

TRIM: Varnished Mahogany hard COLORS: Greenswoods and veneers

STORAGE: Adequate for intendedservice

HEATER(S): Diesel fueled Fab-All Mod. 120 cabin OPERATIONAL: Not testedheaterNOTES: Found the cabin interior accommodating and in very good condition. Foundminor water damage to the cabin liner below the P&S cabin ports. Found the dieselfueled cabin heater without a "Room sealed combustion chamber".

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SPECIAL EQUIPMENTCANVAS: Spray Dodger, main BOARDING LADDER: Yessail cover, hatch covers, (2) boatcovers

SWIM STEP: No

SPOT LIGHT: Hand held DOCKING LINES: Yes FENDERS: Yes

CHARTS: Yes FIRST AID KIT: Yes LIFE LINES: S.S. tubing bow rail todouble S.S. wire rope lifelines runningaft to S.S. tubing cockpit rail

VHF RADIO: Apelco MODELNO: VXL9000 SER.NO: Not accessible POWER UP: Yesfor recording

G.P.S: Garman MODEL NO: GPS SER.NO: No accessible POWER UP: Yes188C Sound for recording

AUTO PILOT: Nav- MODEL NO: 1420 SER.NO: Not accessible POWER UP: Not testedCom for recording

DEPTH SNDR: Apelco MODEL NO: LFC 6600 SER.NO: Not accessible POWER UP:for recording

STEREO: Kenwood MODEL NO: KAC SER.NO: Not accessible POWER UP: Yesamlfin/cd MP532U for recording

WATER SPEED: Standard MODEL NO: Horizon spd./Iog SER.NO: DOU244009

COMPASS: 5 W' DanforthNOTES: Additional equipment: Standard Horizon wind gauge Sere # 08U390105.Furuno SSB Transceiver Mod. FS-1501 radio. Garmin GPS 5455. Sere # 12W009215.Magellan GPS (Very early model). Humminbird hand held VHF radio. (2) SethThomas ships clocks. Seth Thomas barometer. Kenwood 6 disc cd changer. Radarreflector. S.S. rail mounted BBQ.

ELECTRICAL EQUIPMENT AND WIRINGACSYSTEM:

SHORE CONNECTION: 125V 30amp MAINBKR: Yes

MAIN PANEL: Yes INDICATION: No, not at main panel

DISTRIBUTION. PANEL: Yes REVERSE POLARITY IND: Yes

GROUNDED: Yes GALVANIC ISOLATOR:No

GFCI AT WET LOCAnONS: Yes REVERSE POLARITY TESTS: Proper

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ELECTRICAL EQUIPMENT AND WIRING CONT'D

GENERATOR: NoW1RlNG: MARINE GRADE SECURED PROPERLY SUPPORTED & TERMINATED?: Yes

DC SYSTEMMASTER SWITCH: (2) Rotary type, vapor proof MAIN PANEL: Yes

BATTERY CHARGER: Xantrex 50 amp multistage

INVERTER: Xantrex 1,000 watt

BATTERIES: NO.: (3) TYPE: (2) 12V 8-D AGM. (1)12V AGM+ TERMINAL: No

LOCATION: Beneath quarter berth

SECURED: Yes ACID PROOF TRAY: Yes

BONDING SYSTEM: Not all through hull fittingsW1RlNG: SECURED PROPERLY SUPPORTED & TERMINATED: Yes

NOTES: Found the positive terminals on the batteries not protected. Found noindication at the AC panel. Found no inverter warning signage at the AC panel. Foundno galvanic isolator. Additional equipment: Xantrex battery system monitor.

FIRE FIGHTING EQUIPMENT

PORTABLE FIRE EXTINGUISHERS: (1) 1987 Kidde type B:C: size 1. (2) 2009 First Alert type B:C: size 1.

BUlL T IN SYSTEM: No

NOTES: Found the 1987 Kidde portable fire extinguisher not in compliance. Found noautomatic fire suppression system for the engine space.

THROUGH HULL CONNECfIONS AND VALVESFUNCTION LOCATION TYPE

ENGINE COOLING Engine space Bronze ball valveHEAD INLET Forward ports ide Bronze ball valveHEAD SINK DRAIN Forward portside Bronze ball valveCOCKPIT DRAINS Aft Through hull spudsGALLEY SINK DRAIN Amidships ports ide Bronze ball valveBILGE PUMPS OVBD Aft Through hull spudSEWAGE DIR. DISCH. Forward portside Marelon ball valveNOTES: None.

CONDITIONSound and serviceableSound and serviceableSound and serviceableSound and serviceableSound and serviceableSound and serviceableSound and serviceable

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SPARS AND RIGGING

MASTS: Hollow Sitka spruce, single spreaders. BOOMS: Main & spinnaker are wood. STANDING Rigging:IXI9 S.S. & swages. RUNNING RIGGING: Dacron, & SOS.wire flex. SAILS: Dacron mainsail, furling jib, Jibs,Spinnaker. ADDITIONAL EQUIPMENT: Main sheet traveler, Mariner roller furling jib, Genoa tracks, cars &turning blocks.

SHEET WINCHES: (2) Barient # 28. (2) Enkes # 22 ST. (1) Lewmar # 16.

HALYARD WINCHES: (I) Barient reel. (1) # 22, (1) # 16

NOTES: Inspection of the spars and rigging from deck level appeared to be in goodcondition. (Not inspected aloft).

SUMMARY OF VESSEL CONDITIONGENERAL CONDITION: She was found in "very good" condition when compared with vessels of similar typeand age. She has had excellent care over the years by a knowledgeable and committed owner. She is suitablefor intended service upon completion of the "Safety" findings. NOTE: This survey was performed forinsurance underwriting purposes only and is not to be used as a "pre-purchase" survey report. If the vessel issold, a full drydock survey should be performed for the buyer.

HULL: Sound and serviceable. The below water hull was not inspected as a part of this survey. HIN # notaffixed to the upper starboard comer of the transom.

PROPULSION MACHINERY: Not inspected by this surveyor.

EXHAUST SYSTEM: Sound and serviceable. Not double clamped.

UNDER WATER MACHINERY (RUDDER(S), SHAFT(S), AND PROPELLER(S): Not inspected as a part ofthis survey.

GENERA TOR SET: NIA

BILGE PUMPS: Sound and serviceable.

TANKAGE: Sound and serviceable.

PIPING SYSTEMS: Sound and serviceable. Sewage Yvalve not secured in direction of the holding tank.Sewage direct discharge through hull valve secured in the closed position.

DECK AND SAFETY EQUIPMENT: No carbon monoxide or smoke detectors.

GALLEY: Serviceable and in good condition.

CABIN INTERIOR: Serviceable and in good condition. Diesel cabin heater not equipped with a "Room sealedcombustion chamber". Minor water damage below P&S ports.

SPECIAL EQUIPMENT: Adequate for intended service.

ELECTRICAL SYSTEMS AND WIRING: Sound and serviceable. Battery positive terminals not protected. (3)ABYC suggestions for upgrading.

FIRE FIGHTING EQUIPMENT: (1) portable fire extinguisher not in compliance.

THROUGH-HULL CONNECTIONS: Sound and serviceable.

SPARS AND RIGGING: Appeared sound and serviceable at deck level.

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FINDINGS AND DEFICIENCIESNOTE: All safety equipment aboard this vessel, VHF Channel 16, fire extinguishers, flaresand PFD's have been checked and deficiencies noted. New NFPA (National Fire ProtectionAssociation) or ABYC (American Boating and Yacht Council) standards, as quoted mayhave gone into effect since this vessel was build. We have noted these standards where theyapply to the safety of the vessel and its occupants. While NFP A or ABYC standards are notalways retroactive, except where there is a distinct hazard oflife or property, this firmsuggests their compliance for safety reasons. All CFR (code of Federal Regulations) and72 colregs (Navigation Rules) quoted herein are mandatory for correction.

RECO~NDATIONSFORSAFETY

Page 4- Affix a State of Washington assigned HIN # (Hull identification number) to the upper starboard cornerof the transom. 33 CFR 181.23 (required). 33 CFR 181.29 (display). 33 CFR 181.31 (obtain 12character # from state refer.

Page 5- Double clamp all exhaust hose connections. 46 CFR 58.10 (d) refer.Page 6- Secure the sewage V-valve in the direction of the holding tank while in restricted waters. 33 CFR

159.7 refer.Page 6- Secure the sewage direct discharge through hull valve in the closed position while in restricted waters.

33 CFR 159.7 refer.Page 9- Provide protection for the positive battery terminals. 33 CFR 183.420 (b) refer.Page 9- Recertify or replace the 1987 portable fire extinguisher. 46 CFR 25.30.10 refer.

SUGGESTIONS FOR UPGRADING TO NFPA & ABYC STANDARDS

Page 5- Suggest installing a "Loss of exhaust cooling water" indicator. ABYC Ch. P-1.7.1.4 refer.Page 7- Suggest installing carbon monoxide detectors in each accommodation space. ABYC Ch. A-24.5 refer.Page 7- Suggest installing smoke detectors in each accommodation space. NFPA 302-44.12.3 refer.Page 8- Suggest installing a cabin heater that is equipped with a "room sealed combustion chamber". NFP A

302-20.8.5.14.3 refer.Page 9- Suggest installing a galvanic isolator. ABYC Ch. A-28 refer.Page 9- Suggest installing an indication at the AC panel. ABYC Ch. E-l1.9.1.1 refer.Page 9- Suggest installing signage at the AC panel warning of the presents of an inverter. ABYC Ch. A-31.5.3.7

refer.Page 9- Suggest installing an automatic fire suppression system for the engine space. ABYC Ch. A-4.5.2.1 refer.

SUGGESTIONS FOR SERVICE AND MAINTENANCE

Page 4- Suggest repairing the noted soft wood around the cockpit area.Page 8- Suggest repairing the water damaged wood beneath the cabin ports.Page 9- Suggest a thorough inspection of the sailing spars and rigging at deck level and aloft by a qualified yacht

rigger.

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In accordance with the request for the marine survey of the "PAMPERO", for the purpose of evaluating its presentcondition and estimating its Fair Market Value and Replacement Cost, I herewith submit my conclusion based uponthe preceding report. The subject vessel was personally inspected by the undersigned on October 16, 2009.

In consequence of this inspection, we are of the opinion that the vessel is in suitable condition for operation in herintended service, subject to the above recommendations.

I certify that, to the best of my knowledge and belief:

• The statements of fact contained in this report are true and correct

• The report analyses, opinions, and conclusions are limited only by the reported assumptions andlimiting conditions, and is my personal, unbiased professional analyses, opinions, and conclusions.

• I have no present or prospective interest in the vessel that is the subject of this report, and I have 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 valuethat favors the cause of the client, the amount of the value estimate, the attainment of stipulate result, or theoccurrence of a subsequent event.

• I have made a personal inspection of the vessel that is the subject of this report.

This report is respectfully submitted,

TERRY LARSON, AMS

ESTIMATED FAIR MARKET VALUE:*$62,000(As is, Where is)

ESTIMATED FAIR MARKET VALUE: $63,000(Repairs completed.)

ESTIMA TED REPLACEMENT VALUE: $350,000 (Manufacture no longer inproduction)(Current like production, equally equipped)

*Based on: soidboats.com, Power Boat Guide, various on line services, local market conditions and vessel condition.

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In accordance with the request for the marine survey of the "PAMP ERO ", for the purpose of evaluating its presentcondition and estimating its Fair Market Value and Replacement Cost, I herewith submit my conclusion based uponthe preceding report. The subject vessel was personally inspected by the undersigned on October 16, 2009.

1n consequence of this inspection, we are of the opinion that the vessel is in suitable condition for operation in herintended service, subject to the above recommendations.

I certify that, to the best of my knowledge and belief:

• The statements offact contained in this report are true and correct

• The report analyses, opinions, and conclusions are limited only by the reported assumptions andlimiting conditions, and is my personal, unbiased professional analyses, opinions, and conclusions.

• I have no present or prospective interest in the vessel that is the subject of this report, and I have 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 valuethat favors the cause of the client, the amount of the value estimate, the attainment of stipulate result, or theoccurrence of a subsequent event.

• I have made a personal inspection of the vessel that is the subject of this report.

This report is respectfully submitted,

~~TERRY LARSON, AMS

ESTIMATED FAIR MARKET VALUE:*$62,000(As is, Where is)

ESTIMATED FAIR MARKET VALUE: $63,000(Repairs completed.)

ESTIMATED REPLACEMENT VALUE: $350,000 (Manufacture no longer inproduction)(Current like production, equaUy equipped)

*Based on: soldboats.com, Power Boat Guide, various on line services, local market conditions and vessel condition.

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HULL IDENTIFICATION NUMBER(HIN)

295063(The State of Washington Registration reflects the USCG documentation number as the HIN #)

(No HIN # was affixed to the vessel in order to take a rubbing or photo)

TENDER:

10' West Marine Z RIB 310 hypalon inflatable1994 Tohatsu two stroke 8 hpMod. # M8B Ser. # 58337

At her Gig Harbor Marina berth Cockpit looking forward

Salon looking forward from companionway Galley to port

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V-berth stateroom Head/shower to port

AC electrical panel Perkins main diesel engine

USCG Doc. # Tender

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