Captain F. K. Lanier & Associates, LLC

Marine Surveyors and Consultants

Table of Contents

CONDITION AND VALUE SURVEY – Facts & Figures ------2

SECTION I Survey Summary ------ 3

DEFINITION OF TERMS ------3

SECTION II Design and Construction ------4

SECTION III Scope of Survey ------------5

SECTION IV General Comments ------6

SECTION V Systems ------6

HULL ------6

INTERIOR ------8

SAFETY EQUIPMENT ------9

MACHINERY ------10

ELECTRICAL SYSTEMS ------11

FRESHWATER SYSTEM ------12

MARINE SANITATION SYSTEMS ------13

GALLEY ------13

ELECTRONICS ------14

INSTRUMENTATION ------15

AIR-CONDITIONING & HEATING SYSTEMS ------15

STEERING SYSTEM ------15

GROUND TACKLE & CORDAGE ------15

DECK ------16

MAST AND BOOM ------17

RIGGING ------17

SAILS AND ROLLER FURLING ------18

SECTION VI Recommendations ------19

SECTION VII Conclusion ------22

VESSEL PHOTOGRAPHS ------(Deleted)

APPENDIX – Recommendation reference photographs ------(Deleted)

SAMS-SA * ABYC * FCC * NFPA

1441 Hunningdon Woods Blvd (757) 287-3770

Chesapeake, VA 233220 www.captfklanier.com

______

______CONDITION AND VALUE SURVEY REPORT______

To: Tristan Lanier Contact Information

225 Trial Road Home: (123) 456-7890

Virginia Beach, VA 23464 Cell: (123) 456-7890

E-mail:

Vessel Name: SNAPDRAGON Hailing Port: Virginia Beach, VA

Date of Survey: 03MAY03 Surveyed at: Cobb’s Marina

Doc. No: 123456 Hull Number: 123456789101 Type: Sailing vessel

Customer Number: 05050505 Attending Survey: Frank Lanier

Owner: Mich Travis

2255 Salt Cove Drive

Virginia Beach, VA 23454

LOA*: 32.6 ft Beam*: 11.0 ft Draft*: 5.11 ft Displacement*: 11,000 lbs

Builder: Pearson Yachts

Year Built: 1989 Model: Pearson 33 Hull material: FRP Fuel Type: Diesel

Offered at: $65,000.00 **Market Value: $64,000.00 Replacement Value: $125,000.00

Vessel use: Pleasure Navigational limits: U.S. Coast Guard and underwrite assigned.

Current state of vessel: Hauled

Surveyed at request of client: Tristan Lanier

**As provided by published specifications. The surveyor has performed neither weight

calculations nor measurements.

**Based on current state of vessel.

Captain Frank Lanier

I. SURVEY SUMMARY

This is to certify that on May 03, 2003 I personally surveyed “SNAPDRAGON,” a 1989 33-foot sailing vessel of fiberglass construction built by Pearson Yachts. The vessel was surveyed while hauled at Cobb’s Marina, Norfolk, Virginia. Present during the entire survey was Frank Lanier. The purpose of this survey was to determine the condition and value of the vessel. This is a Pre-purchase Condition And Value Survey for the discretionary use of Michael Moore and is not to be used for any other purpose without his oral or written consent.

Problems indicated in this report are in no way intended to present a poor impression of the vessel or to detract from her value. Most problems mentioned are normal for a vessel of her age and type. They are noted here as a professional service and obligation to the client requesting this survey report to assist in maintaining the vessel’s condition, value, and safety. Any problems that require attention immediately or this season are stated as such and those relating to this vessel as an underwriter’s or financier’s risk are itemized under the "Recommendations" section of this report beginning on page 19.

DEFINITION OF TERMS

The following is a definition of words and terms used in this survey report:

Excellent condition New or like new.

Good condition Nearly new with only minor structural / cosmetic discrepancies noted.

Fair condition Functional as appears with minor repairs.

Poor condition Unusable – requires repairs or replacement of system, component or item to be considered functional.

Adequate Sufficient for a specific requirement.

Powers up Electronic item operates, but reliability of data and all functions of operation cannot be confirmed.

It is the intent of this survey report to provide an unbiased report of the vessel’s condition and equipment on the date and time of inspection, not prior to or subsequent to that date and time. A conscientious effort was made to inspect the entire vessel. However, since this report is based only on visual examination of the vessel by non-invasive and non-destructive methods of inspection and diagnosis, this inspection and all contents of this report are not rendered or represented as a warranty or a guarantee of the performance or condition of this vessel, or of any of her machinery, equipment, or systems. Defects not readily visible and not reasonably accessible for inspection or discovery without removal of structure, sheathing, liners, joinery, fittings, tanks, machinery and equipment, especially without disassembling or removing those and any other barriers preventing inspection, are not and can not be covered by this report.

The mandatory standards promulgated by the United States Coast Guard (USCG), as well as the standards and recommendations of the American Boat and Yacht Council (ABYC) Standards and Recommended Practices for Small Craft and the National Fire Protection Association (NFPA) NFPA 302, Pleasure and Commercial Craft have been used as guidelines for this survey and many of the observations and recommendations contained in this report are based on these standards and recommendations.

The observations, opinions, and recommendations contained in this report constitute the entire written survey report as of its date and are intended to supplement and incorporate all prior oral or written comments and communications. If anything in this report is, in the opinion of the above named client, inconsistent with any prior communications from the undersigned, then the client must request clarification as soon as possible or else proceed at his own risk.

This survey represents the honest and unbiased opinion of the surveyor and neither the surveyor nor his agents are to be held responsible for any inaccuracies, omissions, or errors in judgment. It is submitted in good faith and in no way offers, expressly or implied, any form of warranty or guarantee concerning the condition of the above mentioned yacht.

All of the provisions of this report are not transferable, except for the above named client’s purposes of insuring and/or financing the vessel.

II. DESIGN AND CONSTRUCTION

The vessel is a 32.6 ft auxiliary powered sloop rigged sailing vessel of molded fiberglass construction with a raked bow, reverse stern, spade rudder and an external ballast hung keel. The hull is of solid fiberglass construction, while the decks and superstructures are a combination of solid and internally cored molded fiberglass.

Power is provided by a single diesel engine located on centerline and aft of the main salon. Removable panels forward and starboard give reasonable service access to the engine.

The layout of the vessel incorporates partial, non-watertight partitions and molded liners to separate the various internal spaces. These are FRP bonded to the hull/deck and where accessible show no evidence of separation or fracture, however many internal portions of the hull was obscured by the molded liner and unable to be accessed and inspected.

Foremost is a chain locker, followed by the forward cabin V-berth. The berth has a sliding insert (to convert from two singles to a full size bunk) and a privacy door separating it from the main cabin. The forward water tank is beneath the berth on center. Next aft is the main cabin or salon, which consists of a fore and aft settee to port and starboard, both of which have storage outboard and beneath. The number two water tank is located beneath the starboard settee Further aft in the main salon is the navigation station and refrigeration unit to port, while the L shaped galley lies to starboard. The companionway to the deck is located aft, on center and forward of the engine. Aft to port is the head and shower, which is separated from the main cabin by a privacy door. Aft to starboard is the quarterberth. The fuel tank is located on center behind the engine and beneath the quarterberth. Ascending the companionway ladder, on center in the cockpit is the helm, which contains a “destroyer” type wheel, folding cockpit table, and mounting “pods” containing electronics equipment. To port is the cockpit locker containing the hot water heater, holding tank, and propane locker.

III. SCOPE OF SURVEY

During the survey of this vessel the hull underbody, hull topsides (including transom), deck and cabin top were inspected both visually and by percussion sounding with a small plastic headed hammer for rot, synthetic filler, loose fastenings, and other defects that would be audibly detected. Overall relative moisture readings were unable to be taken due to rain and the presence of water on the hull and decks throughout the duration of the survey. Relative moisture content (where noted) was measured using a model GRP 33 moisture meter. The survey neither includes nor implies any certification that the materials and construction methods meet any known standards and the surveyor cannot predict how the vessel will perform over time. It is the builder’s responsibility to warrant the fitness of their product for its intended use and the surveyor does not assume any portion of that warranty.

Visual inspection of the wetted surfaces of the hull exterior and underwater machinery revealed no damage from impacts, grounding, or galvanic corrosion. The hull was inspected at the hauling facility while hauled and blocked. The areas of the hull obscured by the support stands were not visually or audibly inspected.

No sea trial was conducted during this survey. The engine and transmission were inspected visually and as noted in this report, however no technical inspection of the diesel engine and marine gears was performed by the undersigned.

The mast, spreaders, associated equipment, and all rigging were inspected from deck level and the mast was not climbed. All sails and canvas were given a limited inspection for visible defects, however they were not laid out for a comprehensive inspection and are accepted to be in a condition of normal wear relative to their age. The boom and associated equipment was also given a limited inspection, as the mainsail was not raised.

During the interior portion of the survey all loose floorboards were lifted, drawers removed, lockers opened and all accessible interior spaces inspected, however due to finishing methods and the modular design employed, much of the interior hull and hull to deck joint was inaccessible and therefore unable to be fully inspected. Some areas were not wholly accessible due to construction and installation methods and were therefore unable to be fully inspected. Examples of this include both fresh water tanks, the refrigeration compressor, and stern space containing the rudder post and associated equipment. Fresh water and sanitation systems were visually inspected, but were winterized and unable to be tested.

The vessel’s electronic and electrical equipment where connected were powered up where power was available. Both 12 VDC and 110 VAC systems were inspected and tested as noted, however a complete analysis of the vessel’s electrical systems would require the services of a qualified, preferably ABYC certified marine electrician. Only the external, visual condition of wiring, connections, and panels is reported. Cosmetic or comfort issues are address where there is a significant effect on the vessel’s value.

III. GENERAL COMMENTS

SNAPDRAGON has been designed to very good standards and constructed by a reputable builder known for producing high quality vessels. She looked to have been used with very good care and consideration and no signs of excessive wear and tear, abuse or careless usage were noted. Her hull finish topsides were cosmetically good, with only minor dings and scratches, and her bottom paint was new (having just been applied prior to the survey).

The engine and associated machinery were visually inspected and appeared in good condition externally, however as the vessel was hauled during the survey no operational inspections were conducted.

SNAPDRAGON’s original design incorporates many desirable traits expected of a cruiser of her class and these features are only enhanced by the upgrades and outfitting performed under her current owner. She looked to have been used with very good care and consideration, however, there were problem areas noted for further inspection and repair that must be addressed and some of here systems did not meet current NFPA 302 and ABYC standards and need updating or replacing as described in the body of this report.

A search of the US Coast Guard boating safety website www.uscgboating.org revealed no recalls or safety defects listed for this make, model, and year vessel.

The following provides vessel information and condition as found during the survey. Recommendations are noted for reference here and listed in their entirety in the “Recommendations” section beginning on page 19 of this report.

V. SYSTEMS

HULL

Hull number: 123456789101

Location: Starboard transom.

Documentation number: 123456

Location: Inside cockpit locker. See recommendation B-1.

Hull topside: Molded FRP, solid. Color: Off-white

Comments: Good

Bottom: Molded FRP, solid. Color: Red

Comments: Good

Finish: Original gel-coat topsides, roller painted bottom antifouling paint.

Comments: Gel-coat is in overall good condition with minor cosmetic dings and

scratches. The bottom paint is recent and in excellent condition.

Stem: Raked stem of molded FRP

Stern: Reverse stern of molded FRP

Keel: Hung keel with external ballast. Ballast material is unknown and was

Bolts appear tight and sound with adequate bedding.

Hull to Deck Joint: Flanged hull and deck joint through bolted with teak cap. Although

the hull to deck joint appeared sound with no visible evidence of separation, stress overload, or working of the joint noted from the outside, the hull to deck joint was unable to be fully inspected from inside due to interior finish work.

Decking: Combination of cored and solid FRP.

Superstructure: Trunk main cabin of molded FRP with internal core.

Vessel trim in water: Not observed.

UNDERWATER MACHINERY

Rudders: Spade rudder

Comments: No visible signs of impact or grounding. Rudder head is milled to accept

emergency tiller.

Propeller shaft / nut: 1 1/8” stock with shaft nut, backing nut, and cotter pin.

Comments: Good condition – no visible signs of corrosion, electrolysis, impact

or grounding damage.

Propeller: 2 bladed RH (approximately 16”)

Comments: Good condition – no visible signs of corrosion, electrolysis, impact or

grounding damage. Unable to read information stamped on prop due to fresh paint.

Cutlass Bearings: Water lubricated rubber sleeve – good condition.

Shaft log / hose: Good, double clamped with SS clamps and PSS Shaft Seal.