CONTENDER 23T HIN xxxxxxxxxx - leasuremarinesurvey.vpweb.com 23T sample.pdf · I. INTRODUCTION...

LEASURE MARINE SURVEYRICHARD LEASURE, SA. leasuremarinesurvey.vpweb.com

CONTENDER 23 T

"CONTENDER 23T HIN xxxxxxxxxx"

10370 Crepe Myrtle Road Grand Bay, AL 36541(251) 865-2569

RICHARD LEASURE SA, MEMBER OF SOCIETY OF ACCREDITED MARINE SURVEYORS

REPORT OF MARINE SURVEY

OF THE VESSEL

"CONTENDER 23T HIN xxxxxxxxxx"

CONTENDER 23 T

CONDUCTED BYRichard E. Leasure AMS.

INDEPENDANT MARINE SURVEYOR

PREPARED FOR:

sample survey

July 13, 2010

RICHARD LEASURE SA, MEMBER OF SOCIETY OF ACCREDITED MARINE SURVEYORS

TABLE OF CONTENTS

TOC"CONTENDER 23T HIN xxxxxxxxxx" surveyed by Leasure Marine SurveyGrand Bay, AL 36541

SECTION PAGE NO.

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

II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .GENERAL INFORMATION 3

III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SYSTEMS 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .HULL DECK AND SUPERSTRUCTURE 5

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .PROPULSION 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FUEL SYSTEM 6

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ELECTRICAL SYSTEMS 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .STEERING SYSTEM 7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .GROUND TACKLE 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ELECTRONICS AND NAVIGATION EQUIPMENT 8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .THRU-HULLS 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SAFETY EQUIPMENT 8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .OUT OF WATER INSPECTION 9

IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FINDINGS AND RECOMMENDATIONS 11

V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SUMMARY AND VALUATION 13

VI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .PHOTOGRAPHS 16

TOC"CONTENDER 23T HIN xxxxxxxxxx" surveyed by Leasure Marine SurveyGrand Bay, AL 36541

I. INTRODUCTION

Page 1 of 17"CONTENDER 23T HIN xxxxxxxxxx" surveyed by Leasure Marine SurveyGrand Bay, AL 36541

SCOPE OF SURVEY

Acting at the request of sample survey, the attending surveyor did attend onboard the CONTENDER 23 T, "CONTENDER 23T HIN xxxxxxxxxx" beginning on , 7/13/2010 beginning at 1700 and ending at 1900 where an ''OUT of-the-water-survey'' WAS conducted at Owner Residence. The ship's papers were on board and appeared to be in order. The Hull Identification Number XXXXXXXXXXXXX WAS verified from the transom. A sea trial WAS NOT performed. An out-of the water inspection of underwater machinery and the exterior of the hulls wetted surface area WAS performed. The reason for the survey, was to ascertain the physical condition and value of the vessel. Moisture readings taken and referenced throughout the body of the report, were taken with the GRP 33 Moisture meter. AC and DC power WAS used to check operation of the electrical systems specified in this report only. No reference or information should be construed to indicate evaluation of the internal condition of the engines or the propulsion system's operating capacity. Electronic equipment was checked for ''power up'' only.

This vessel was surveyed without removals of any parts, including fittings, tacked carpet, screwed or nailed boards, anchors and chain, fixed partitions, instruments, clothing, spare parts and miscellaneous materials in the bilges and lockers, or other fixed or semi-fixed items. Locked compartments or otherwise inaccessible areas would also preclude inspection. Owner is advised to open up all such areas for further inspection. Further, no determination of stability characteristics or inherent structural integrity has been made and no opinion is expressed with respect thereto. This survey report represents the condition of the vessel on the above dates, and is the unbiased opinion of the undersigned, but it is not to be considered an inventory or a warranty either specified or implied.

NOTE: It is recommend and understood that all engines be surveyed by a qualified Engine Surveyor to determine the condition of the engines, gears and pumps, heat exchangers, coolers, etc.

CONDUCT OF SURVEY:

THE MANDATORY STANDARDS PROMULGATED BY THE UNITED STATES COAST GUARD (USCG), UNDER THE AUTHORITY OF TITLE 46 UNITED STATES CODE (USC); TITLE 33 AND TITLE 46, CODE OF FEDERAL REGULATIONS (CFR), AND THE VOLUNTARY STANDARDS AND RECOMMENDED PRACTICES DEVELOPED BY THE AMERICAN BOAT AND YACHT COUNCIL (ABYC) AND THE NATIONAL FIRE PROTECTION ASSOCIATION (NFPA) HAVE BEEN USED AS GUIDELINES IN THE CONDUCT OF THIS SURVEY.

The use of the word ''appears'' is intended to indicate that a close or complete inspection was not possible or it was not deemed appropriate at the time of this survey. The deficiencies reported herein reflect the conditions observed at the time the survey was conducted.

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

I. INTRODUCTION


VESSEL DESCRIPTION

The Contender 23T is an open Deep V express tournament fishing craft of high quality. She has a center

console open arrangement with all the requirements for the discerning angler. She is built in high tech closed cell

foam/ FRP lay up to keep weight light. Her deck layout is uncluttered with wide decks, built in fish and bait

tanks, and a recessed bow rail.

There is some damage to the area around the trim tabs and she shows some gelcoat hairline stress cracks in

areas, but this Contender 23 T is a well kept vessel.

II. GENERAL INFORMATION

GENERAL INFORMATION


. . . . . . . . . . . . . . . . . . . . . . . . . . . .FILE NUMBER: 100713

. . . . . . . . . . . . . . . . . . .SURVEY PREPARED FOR: sample survey

. . . . . . . . . . . . . . . . . . . . . . . . .NAME OF VESSEL: "CONTENDER 23T HIN xxxxxxxxxx"

. . . . . . . . . . . . . . . . . . . . . . . . .TYPE OF SURVEY: Pre-Sale for Owner

. . . . . . . . . . . . . . . . .OVERALL VESSEL RATING: **** FAIR

. . . . . . . . . . . . . . .ESTIMATED MARKET VALUE: $49,500.00

. . . . . . . . . .ESTIMATED REPLACEMENT COST: $115,00.00

. . . . . . . . . . . .YEAR/MAKE/MODEL OF VESSEL: 2005 Contender Tournament 23

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BUILDER: Contender Boats, Homestead, FL.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .YEAR BUILT: 2005

. . . . . .HULL IDENTIFICATION NUMBER (HIN): JDJ3T105K405

. . . . . . . . . . . .STATE REGISTRATION NUMBER: AL 1682 LC

. . . . . . . . . . . . . . . . . . . . . . . . . .OWNER'S NAME: sample survey

. . . . . . . . . . . . . . . . . . . . . . .OWNER'S ADDRESS: sample survey

. . . . . . . . . . . . . . . . . . . . . . . .PLACE OF SURVEY: Owner Residence

. . . . . . . . . . . . . . . . . . . .DATE/TIME OF SURVEY: July 13, 2010, 1500 to 1700

. . . . . . . . . . . . . . . . . . . . . . . . . .HULL MATERIAL: Fiberglass (FRP) with foam core

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .HULL TYPE: Deep V

. . . . . . . . . . . . . . . .LENGTH OVER ALL (L.O.A).: 23 Ft (BucValue Pro)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BEAM: 8'3" (BucValue Pro)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .DRAFT: 1'6" (BucValue Pro)

. . . . . . . . . . . . . . . . . . . . .PROPULSION SYSTEM: Twin 200hp Yamaha Outboards

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

. . . . . . . . . . . . . . . . . . . . . . . . . .FUEL CAPACITY: Not Known

. . . . . . . . . . . . . . . . . . . .INTENDED USE/BUYER: Recreational

. . . . . . . . . . . . . . . .INTENDED CRUISING AREA: Texas Coastal and near offshore.

II. GENERAL INFORMATION


DEFINITION OF TERMS:The terms and words used in this report have the following meanings as used in this Report of survey:

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

FIT FOR INTENDED USE:Use which is intended by Survey Purchaser(present or prospective owner).

SERVICEABLE: ADEQUATE:Sufficient for a specific requirement.

POWERS UP:Power was applied only. This does not refer to 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 system, component or item is functional as is with minor repairs. (MONITOR OFTEN)

POOR CONDITION:Unusable as is. Requires repairs or replacement of system, component or item to be considered functional.

USE OF *: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.

Asterisks * in this General Information section refers to the source of such information as follows: * Per Manufacturer's Specifications **Refer to Summary and Valuation Section *** Per USCG Documentation **** Per Buc Book

III. SYSTEMS

HULL DECK AND SUPERSTRUCTURE


HULL CONSTRUCTION

MATERIAL:FRP (fiber reinforced plastic) exterior laminates with an foam core material.

EXTERIOR HULL:White gel coat over FRP. Condition good.

BULKHEADS:Appears serviceable where sighted from the forward and aft cockpit access ports.

STRINGERS:Hull stiffness provided by FRP over assumed foam full length stringers. Stringers were serviceable where seen through the forward and aft centerline access hatches.

STEM:The chain locker was empty allowing inspection of the stem area internally. The stem both inside and out shows no sign of damage. The stem head fitting fasteners, as seen from below, in the chain locker appear adequate in size and number and show no signs of corrosion or water ingress.

TRANSOM:*B1

FRP Transom with gate. Some damage in transom area around recess for trim tabs. Damage consist of gelcoat chips and missing covers and screws. Transom was tapped sound and showed no elevated moisture readings. Serviceable.

DECK CONSTRUCTION

MATERIAL:Cored FRP (fiber reinforced plastic) with white gelcoat, molded non-skid surface.

COCKPIT:*B2

Center console cockpit with fish boxes. Cockpit sole shows some stress cracks around access hatches.

NOTE:*B3

T-top upright bases show elevated moisture reading where attached to cockpit sole.

DECK FITTINGS

TOE RAILS:Vinyl rub rail over deck joint. Serviceable

CHOCKS AND CLEATS:Chocks and cleats appeared to be stainless steel all sighted were thru-bolted and serviceable.

ADDITIONAL EQUIPMENT AND ACCESSORIES

GENERAL EQUIPMENT:Vessel is devoid of extra equipment.

III. SYSTEMS

HULL DECK AND SUPERSTRUCTURE


ADDITIONAL EQUIPMENT AND ACCESSORIES(Continued)

BOAT TRAILER:"There is a trailer supporting this vessel. The trailer is made of Aluminum by Load Master and has dual torsion bar axle with ST225/75R15 tires and dual brakes. The trailer VIN as stamped at tongue is 4YPAB25235T0385600. NO SURVEY OR INSPECTION OF SAID TRAILER has been conducted by this surveyor beyond an appraisal of approximate value, based on the overall appearance of the trailer. All trailers should be inspected by a qualified trailer maintenance person and the electrical system and brakes tested with the owner's towing vehicle prior to use."

FISHING EQUIPMENT

LIVE BAIT WELLS:Aft in transom area. Has live well pump and circulation system Appears serviceable.

OUTRIGGERS:None

PROPULSION

MAIN ENGINES

MAKE:Two 2 Stroke 200 HP Yamaha Outboards.

MODEL AND SERIAL NUMBERS:Port: L200TXRD SER# 1002866. Starboard: Z200TXRD, SER# 1017798

HORSE POWER:200 HP

INDICATED HOURS:Port hours 1017. Starboard hours 1008.

THROTTLE CONTROLS:Dual controls, serviceable

NOTE:The surveyor did not operated the engines . All findings in this section were by observation.

FUEL SYSTEM

MAIN ENGINE(S) FUEL SYSTEM

FUEL TYPE:Gasoline.

TANK MATERIAL:Reportedly Aluminum.

NUMBER OF TANKS:One

FILL PIPE GROUNDED:Appears to be properly grounded.

III. SYSTEMS

FUEL SYSTEM


MAIN ENGINE(S) FUEL SYSTEM(Continued)

FILL PIPE MATERIAL:Type A1 USCG approved hose. Appears serviceable.

HOSE CONNECTIONS, CLAMPS:*A1

Port fuel filter has loose hose clamp at inlet. All else Appears serviceable and approved where sighted aft by filters and through tank inspection port.. Very limited access to fuel tank

FUEL LINES AND FITTINGS:Grade USCG type A1 ,clamped with marine grade SS clamps; serviceable.

FUEL MANIFOLD VALVES:Ball type valves at fuel filters. Valves operate and appear adequate.

FUEL FILTERS:Screw on type located aft under cockpit sole access hatch. Showed corrosion but appeared serviceable.

ELECTRICAL SYSTEMS

ELECTRICAL SYSTEM (D.C. SYSTEM)

VOLTAGE:Lead acid battery powered 12 volt system.

BATTERIES:Two banks of one group 24 battery each.

MAIN BATTERY SWITCHES:Two switches located by batteries, Serviceable

PANEL:DC connections are in center console and consist of fuses, circuit breakers and terminal strips with ring type connections. All appeared serviceable.

STEERING SYSTEM

STEERING SYSTEM

TYPE/MANUFACTURE:Hydraulic, by Hynautic. Hoses and connections where sighted in center console and at transom appeared serviceable with no leaks. System operated smoothly from stop to stop.

NUMBER OF STATIONS:One

MODEL #:SEA STAR HH 5271 Helm pump, and HH 5358 Cylinder actuator.

III. SYSTEMS

GROUND TACKLE


GROUND TACKLE

ANCHORS:*A2

One Guardian 11 aluminum anchor with no rode and chain.

ELECTRONICS AND NAVIGATION EQUIPMENT

ELECTRONICS AND NAVIGATION EQUIPMENT

VHF:ICOM M502 DSC ,powered up.

RADAR:Raymarine C-70 system with radome on T-top

GPS:Raymarine System

CHART PLOTTER:Ray Marine System

FISH FINDER:Raymarine HD System with C 70 Display

COMPASSES:KVH Fluxgate input to Raymarine System. Sunto magnetic compass at helm. Serviceable.

ELECTRONICS (ENTERTAINMENT)

STEREO SYSTEM:Sony CDX F50005X, did not power up.

SPEAKERS:Four located around cockpit.

THRU-HULLS

THRU-HULLS:

MATERIAL:All thru hulls below water line are bronze ball valves. There are four aft for bait tank and cockpit drains. Serviceable.

SAFETY EQUIPMENT

SAFETY EQUIPMENT (UNITED STATES COAST GUARD)

NUMBER AND TYPE OF PFD'S:None onboard

NUMBER OF THROWABLE PFD'S:None onboard

FIRE EXTINGUISHERS:One BI located at in center console Not mounted in manufacturer's bracket.

III. SYSTEMS

SAFETY EQUIPMENT


SAFETY EQUIPMENT (UNITED STATES COAST GUARD)(Continued)

VISUAL DISTRESS SIGNALS:None Found.

SOUND DEVICES:None Sighted.

NAVIGATION LIGHTS:*A3

All navigation lights are not serviceable.

NOTE:*A4

No USCG required safety equipment on board.

AUXILIARY SAFETY EQUIPMENT

LIFE RAFT:None.

E.P.I.R.B.:None Sighted. But highly recommended.

BILGE PUMPS

LIST:Two Rule 2000 bilge pumps located in deep bilge AFT. Both are serviceable.

COMMENTS:I recommend that all bilge pumps have a SS intake screen installed to prevent pump binding and burnout if foreign material is ingested. Also use bilge pump hose which is smooth internally (not cheap flexible hose with convoluted rings) and proper size marine grade 100% tinned wiring with a minimum number of water proof butt splices. This allows pumps to operate at rated capacity in event that a serious leak occurs.

NOTE:Note: Both bilge pumps have remote auto float switches. Manual operating switches in the main DC panel are well marked and are operable.

OUT OF WATER INSPECTION

BELOW WATERLINE MACHINERY

PROPELLER(S):SS 21-ml port, and 21-m starboard. Serviceable.

TRIM TABS:Bennett trim hydraulic tabs operated normally.

CONDITION OF HULL (WETTED SURFACE)

BLISTERS:None Sighted.

III. SYSTEMS

OUT OF WATER INSPECTION


CONDITION OF HULL (WETTED SURFACE)(Continued)

CONDITION OF BOTTOM PAINT:No bottom paint. Boat kept on trailer or lift.

NOTE:Bottom is in good condition with a few minor scratches.

IV. FINDINGS AND RECOMMENDATIONS


Deficiencies noted under ''SAFETY'' should be addressed before vessel is next underway. These findings represent an endangerment to personnel and/or the vessel's safe and proper operating condition. Findings may also be in violation of U.S.C.G. regulations.

Deficiencies noted under ''OTHER DEFICIENCIES'' should be corrected in the near future so as to maintain standards and to help the vessel to retain it's value.

Deficiencies will be listed under the appropriate heading:

A. SAFETY DEFICIENCIES

B. OTHER DEFICIENCIES NEEDING ATTENTION

C. SURVEYORS NOTES AND OBSERVATIONS

A. SAFETY DEFICIENCIES:

A.1 (PAGE 7) HOSE CONNECTIONS, CLAMPS:Port fuel filter has loose hose clamp at inlet. All else Appears serviceable and approved where sighted aft by filters and through tank inspection port.. Very limited access to fuel tank

FINDINGS RECOMMENDATIONSPort fuel filter has loose hose clamp at inlet. Tighten hose clamp.

A.2 (PAGE 8) ANCHORS:One Guardian 11 aluminum anchor with no rode and chain.

FINDINGS RECOMMENDATIONSNo ground tackle on board. Ground tackle can be important safety equipment,

properly sized, rigged, stowed and ready for use. Chapman piloting seamanship and small boat handling is an excellent reference.

A.3 (PAGE 9) NAVIGATION LIGHTS:All navigation lights are not serviceable.

FINDINGS RECOMMENDATIONSAll navigation lights are not serviceable. Comply with USCG Enforcable 72 COLREGS on

Navigation at Sea and repair all navigation lights.

A.4 (PAGE 9) NOTE:No USCG required safety equipment on board.

FINDINGS RECOMMENDATIONSNo USCG required safety equipment on board. Comply with USCG Safety Regulations.

IV. FINDINGS AND RECOMMENDATIONS


B. OTHER DEFICIENCIES NEEDING ATTENTION:

B.1 (PAGE 5) TRANSOM:FRP Transom with gate. Some damage in transom area around recess for trim tabs. Damage consist of gelcoat chips and missing covers and screws. Transom was tapped sound and showed no elevated moisture readings. Serviceable.

FINDINGS RECOMMENDATIONSSome damage in transom area around recess for trim tabs. Damage consist of gelcoat chips and missing covers and screws. Transom was tapped sound and showed no elevated moisture readings.

Further investigate and repair with like kind materials in keeping with accepted marine repair practices.

B.2 (PAGE 5) COCKPIT:Center console cockpit with fish boxes. Cockpit sole shows some stress cracks around access hatches.

FINDINGS RECOMMENDATIONSCockpit sole shows some stress cracks around access hatches.

Further investigate and repair with like kind materials in keeping with accepted marine repair practices.

B.3 (PAGE 5) NOTE:T-top upright bases show elevated moisture reading where attached to cockpit sole.

FINDINGS RECOMMENDATIONST-top upright bases show elevated moisture reading where attached to cockpit sole.

Recommend removing re-bedding and reattaching. I recommend using the WEST SYSTEM EPOXY for attachment.

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

V. SUMMARY AND VALUATION


STATEMENT OF OVERALL VESSEL RATING OF CONDITION:

It is the surveyor's experience that develops an opinion of the OVERALL VESSEL RATING OF CONDITION After a the survey has been completed and the findings have been organized in a logical manner.

The grading of condition, developed by BUC RESEARCH, and accepted in the marine industry, for a vessel at the time of survey, determines the adjustment to the range of base values in the BUC USED BOAT PRICE GUIDE, for a similar vessel sold within a given time period, as a consideration to determine the Market Value.

The following is the accepted marine grading system of condition:

''EXCELLENT (BRISTOL) CONDITION'', is a vessel that is maintained in mint or bristol fashion - usually better than factory new - loaded with extras - a rarity.

''ABOVE AVERAGE CONDITION'', has had above average care and is equipped with extra electrical and electronic gear.

''AVERAGE CONDITION'', ready for sale requiring no additional work and normally equipped for her size.

''FAIR CONDITION'', requires usual maintenance to prepare for sale.

''POOR CONDITION'', substantial yard work required and devoid of extras.

''RESTORABLE CONDITION'', enough of hull and engine exists to restore the boat to usable condition.

As a result of my investigation, as shown in the SYSTEMS AND FINDINGS AND RECOMMENDATIONS section of this REPORT OF SURVEY, and by virtue of my experience, my opinion is



STATEMENT OF VALUATION:

1. The ''FAIR MARKET VALUE'' is the most probable price in terms of money which a vessel should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.

Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

a. Buyer and seller are typically motivated.

b. Both parties are well informed or well advised, and each acting in what they consider their own best interest.

c. A reasonable time is allowed for exposure in the open market.

d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and

e. The price represents a normal consideration for the vessel sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

Several sources were used in the determination of "FAIR MARKET VALUE" for the surveyed vessel. They included recent NADA and PowerBoat Guide editions, BUCValuPro.com, boattraderonline.com, and yachtworld.com. As stated in the "SUMMARY AND VALUATION" statement , all data collection was based on a vessel rating of "FAIR CONDITION". BUC provided a range between $44,645 to $47,645adjusted for the southeast region. The average asking price on 7 vessels with similar details and descriptions as advertised on boattrader.com and yachtworld.com was $56,500.

Therefore, after consideration of the reliability of the data, the extent of the necessary adjustments and condition of the vessel, it is your surveyor's opinion that the ''FAIR MARKET VALUE'' of the subject vessel is:

$49,500.00Forty Nine Thousand Five Hundred Dollars and Zero cents

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

$115,00.00Eleven Thousand Five Hundred Dollars and Zero cents



SUMMARY:

In accordance with the request for a marine survey of the "CONTENDER 23T HIN xxxxxxxxxx", for the purpose of evaluating its present condition and estimating its Fair Market Value and Replacement Cost, I herewith submit my conclusion based on the preceding report. The subject vessel was personally inspected by the undersigned on 07/13/2010 and was found to be a well constructed, appointed and comfortable vessel. The vessel is very capably captained and well-kept. Subject to correction of deficiencies listed in section IV A. (Safety), the vessel is considered to be suitable for its intended use. Other deficiencies list should be attended to in a timely fashion.

SURVEYOR'S CERTIFICATION:

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

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

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

I have no present or prospective interest in the vessel that is the subject of this report, and I have no personal interest or bias with respect to the parties involved.

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

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

This report is submitted without prejudice and for the benefit of whom it may concern.

ATTENDING SURVEYOR: Richard E Leasure

VI. PHOTOGRAPHS


BOW2.JPG CONSOLE2.JPG

BOW.JPG STERN.JPG

VI. PHOTOGRAPHS


ELECTRONICS.JPG STBD SIDE.jpg

TRANSOM.JPG

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