REPORT OF THE MARINE SURVEY Survey completed: April 25, 2011 Report: April 26, 2011 Final Report: April 26, 2011

REPORT OF THE MARINE SURVEY Survey completed: April 25, 2011 Report: April 26, 2011 Final Report: April 26, 2011 As requested, a Pre-purchase Survey ...
Author: Leonard Neal
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REPORT OF THE MARINE SURVEY Survey completed: April 25, 2011 Report: April 26, 2011 Final Report: April 26, 2011

As requested, a Pre-purchase Survey was conducted. "Great Boat"

2005 Glacier Bay 3480 Ocean Runner PREPARED EXCLUSIVELY FOR: John Public

CONDUCTED BY: Peter Spang, AMS SAMS

Surveyed for: - 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 1 of 29

GLOSSARY The terms and words used in this report have the following meanings... ACRONYMS: ABYC - American Boating and Yacht Council AF - Appraisal Foundation CE - European Certification CFR - US Code of Federal Regulations COLREGS - International Regulations for Preventing Collisions at Sea ISO - International Organization for Standardization NFPA - National Fire Protection Agency UL - Underwriters Laboratory USPAP Uniform Standards of Professional Appraisal Practices ADEQUATE: Sufficient for a specific requirement. 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). CONDITIONS (Descriptive- different from vessel value): EXCELLENT or BRISTOL: New or like new. GOOD: Nearly new, with only minor cosmetic or structural discrepancies noted. FAIR: Denotes that a system, component, or item is functional as is with minor repairs. (MONITOR OFTEN) POOR: Unusable as is. Requires repairs or replacement of system, component, or item to be considered functional. INTENDED SERVICE: Use of vessel that is intended by Survey Purchaser (present or prospective owner). MATERIALS: FRP: (Fiber Reinforced Plastic) Typical fiberglass laminate construction. SS: (Stainless Steel) NA: Not applicable to this vessel. POWERS UP: Power was applied only and system appeared to react properly. This does not refer to the operability of any system or component unless specifically indicated. SERVICEABLE: Sufficient for a specific requirement. TERMINOLOGY: ABAFT: Towards aft ATHWART: Across the vessel AWL: Above waterline BWL: Below waterline LOA: Length overall LWL: Length at waterline Stbd: Starboard Port: Port Terms used in USCG Documentation: GRT: Gross tonnage NET: Net tonnage BREADTH: Beam DEPTH: This is not draft. Note: GRT and NET are calculated from hull volumes. Do not confuse with displacement or weight of the vessel.

PRIORITY I - SAFETY & REGULATORY RECOMMENDATIONS: (MAY BE MANDATORY) The deficiencies listed as Priority I are required by state laws or CFR -federal laws enforced by the U.S.C.G. or are considered by the attending surveyor to represent unsafe operating conditions. Response by the vessel caretaker should be before next use of vessel.

PRIORITY II - MAINTENANCE & STANDARDS RELATED: (NOT NORMALLY MANDATORY) These are important maintenance items sighted which in this surveyor's opinion need to be rectified. They may also include recommendations to conform to current ABYC and NFPA-302 voluntary standards which may not have been in effect or may not have been adhered to by the builder when the vessel was constructed. Some of these, if not addressed, could lead to a Priority I safety issue and/or may result in a reduced vessel market value. Response by the vessel caretaker should be ASAP.

OTHER RECOMMENDATIONS: (SUGGESTIONS IN THE WAYS OF A PRUDENT MARINER) These are other less significant maintenance items or observations that if not addressed, could lead to more important priority issues and/or could lead to a reduced vessel market value. The cost of addressing these recommendations is generally minimal. Might include suggestions in the context of FYI, ways of a prudent mariner, etc.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 2 of 29

SURVEY REPORT TABLE OF CONTENTS Major Systems Surveyed

Page No.

GENERAL SURVEY INFORMATION

4

HULL INSPECTION

6

TOP DECK & SUPERSTRUCTURE

9

FISHING EQUIPMENT

12

CABIN INTERIOR APPOINTMENTS

12

STEERING SYSTEM

14

PROPULSION SYSTEM

14

NAVIGATION ELECTRONICS-V30

16

ELECTRICAL SYSTEMS

17

TANKAGE

21

AUXILIARY EQUIPMENT

22

SEA TRIAL

22

SAFETY EQUIPMENT

23

INSPECTION RECOMMENDATIONS SUMMARY

26

Please note: This survey is prepared for the exclusive use of . This report by itself does not contain all the components necessary for a prepurchase decision. The intended users of this report and appraisal are the client and those lenders and underwriters who may finance or insure this vessel for only. This report is not transferable to any other person or entity, therefore, other potential buyers are specifically excluded as third party users of this report. Vessel owner is responsible for research of warranties and/or defect recalls. As well as conscientiously having defects quickly repaired when recalled. TMS takes no responsibility for any problems stemming from these issues.. © Copyright 2012, Turnstone Marine Survey, LLC. All rights reserved

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

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GENERAL SURVEY INFORMATION SURVEY STANDARDS 1.1 Standards followed:

This survey was completed using as reference the federal regulations and amendments issued and enforced by the United States Coast Guard under the authority of Title 33 and Title 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. These ABYC and NFPA voluntary standard practices are generally followed by most vessel manufacturers today. Marine Pollution Act, MARPOL, International ISO, and COLREGS also apply. This vessel was not surveyed to any standards or regulations that are applicable to the Australian Coast Guard or other regulatory body of that country. Buyer is responsible to prepare the vessel to comply.

SURVEY INSPECTION COMMENTS 1.2 Comments:

• All systems and components inspected and described herein are considered serviceable and/or functional except as indicated in the survey report and recommendations section. Electronic devices and instruments were checked for power up only - not for functionality unless a sea trial was performed. • "Priority I Recommendations" are related to Safety & Regulatory findings and are listed in RED in the report. • "Priority II Recommendations" are related to Maintenance & Standards findings and are listed in ORANGE in the report. • "Other Recommendations" are suggestions "in the ways of a prudent mariner" or findings that are relatively minor in nature and are listed in BLUE in the report. • It is the nature of marine vessels that deterioration, wear and accidents do occur and as such, this report therefore represents the condition of the vessel only at the time the survey was conducted.

SCOPE OF SURVEY 1.3 Report file no:

Example.

1.4 Inspection date(s):

April 25, 2012.

1.5 Report date:

April 26, 2011.

1.6 Final Report date:

April 26, 2011.

1.7 Type of survey:

As requested, a Pre-purchase Survey was conducted. The agreed scope of work is to thoroughly establish and report the overall condition, then appraise the fair market value of this vessel for pre-purchase decision making. The report may also be used for insurance underwriting and/or financial decision making.

1.8 Conducted by:

Peter J. Spang, SAMS® AMS®

1.9 Requested by:

This survey was performed at the request of the purchaser, John Public, who was not present at the time of the survey.

1.10 Survey conditions

The vessel was on the hard in storage, decommissioned and stored indoors. The vessel was surveyed on the hard, then commissioned and launched to complete the

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 4 of 29

inspection. Electrical systems checked: Vessel's (12-24) volt DC system was checked using the ship's batteries. The vessel's AC (shore power) system was powered up using available shore power. A sea trial was performed as part of this survey. A calibrated Electrophysics moisture meter, model GRP 33, was used to obtain laminate moisture readings used in this report. A self calibrating Delmhorst J-Lite probing moisture meter would be used for wood applications. 1.11 Intended use:

Pleasure cruising. Sport fishing.

1.12 Seller statement:

The owner/ seller or representative is asked by the surveyor if there is any known history of damage due to allision, collision, explosion, full or partial submersion, fire, etc. or awareness of any known defects in this vessel besides what is discovered by this survey, and denies knowledge of such.

SURVEY REQUESTED BY 1.13 Client's name:

John Public.

1.14 Client's address:

2 Main St. Yarmouth, MA.

1.15 Business phone:

508-508-1500.

1.16 Customer experience:

TMS does not have knowledge of this customer's level of experience.

VESSEL INFORMATION 1.17 Year /Make /Model: 2005 Glacier Bay 3480 Ocean Runner. 1.18 Vessel name:

Great Boat.

1.19 Description:

Manufactured by: Glacier Bay Catamarans, Tarboro, North Carolina, USA, (Now called Power Cat Group, Inc.). Description: The vessel is of molded fiberglass (FRP) construction, twin hull- catamaran, a hard chine molded-in at the turn of each bilge, a conventional sheer, and of sport cruiser/ fisherman style. Hulls are non-planing displacement style. The vessel's LOA: 37' 6", Beam: 13' 3", Draft: 2' 8", and Displacement: 14,400 LBS. Hull Identification Number: XXX123456W405. A true digital photograph of the hull ID number of the referenced vessel is displayed. The Hull Identification No (HIN) is in agreement with the vessel's documentation papers. This vessel is Documented by the USCG and the number is: XXXXXX. The documentation is in order based on the documentation sighted or researched from the internet and the document# is permanently affixed to hull per USCG regulations. The vessel is documented as a Recreational Vessel. The Documented hailing port is Ft Lauderdale, FL. Her Documented length is: 34', Breadth: 13.3', Depth: 7.4', (Note: Documented depth does not relate to draft), Gross tons (GRT): 22, Net tons (NET): 22, Date of Manufacture: 2005).

1.20 NOTE:

A well kept file with manuals for ship's systems, propulsion and electronics is on board.

VESSEL CONDITION & VALUE 1.21 Condition per BUC: ABOVE AVERAGE CONDITION This vessel appears to have had above average care and/or is equipped with extra options and electronic gear.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 5 of 29

1.22 Book values:

BUC ValuePro used and ABOS values used: $166,750 to $204,700. (Price adjusted for condition and the Northeast & Mid Atlantic area). NOTE: It is generally realized that BUC values have not accurately reflected this current down market. Additional resources were used to place value.

1.23 Market value:

$193,250 ... value for total package Refer to Section 1.1 "Value reconciled"

1.24 Value reconciled:

$193,250 using BUC ValuPro, ABOS, NADA and Soldboats.com among others as guides. Yachtworld currently lists 5 comparable 2004-2006 models asking $145,000 to $249,900 plus 2 models with diesel power at $325-$375K. Soldboats.com currently lists 7 comparable outboard powered 2005-2007 models that sold for $100,000 to $180,000 in the last year, (4 sold this season so far). Eliminating the unusually high and/or low values this calculates a mean market value as $168,000, and given the age and condition,(+15%), of this vessel, equipment offered and systems repairs needed (if any) to be fully operational, I contend this is a fair value.

1.25 Replacement cost:

$529,000 per dealer, (does not include options nor outboards). (MSRP $315,100 includes outboards per ABOS)

1.26 NOTE:

The "MARKET VALUE" is the most probable price, in terms of money •Buyer and seller are typically motivated. •Both parties are well informed or well advised, and each acting in what they consider their own best interest. •A reasonable time is allowed for exposure in the open market. •Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and •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. The overall vessel condition and value was established after a complete inspection of stated vessel, the results of which are included in this report of survey. The estimated fair market value and replacement cost includes all listed auxiliary equipment. See "Condition & Value Summary" section for additional details. Vessel was then compared to similar vessels for sale or sold, using all available resources including listed book values. Valuations are determined using 2008-2009 USPAP (Uniform Standards of Professional Appraisal Practice) standards for personal property in which the surveyor has been trained and tested by the ASA (American Society of Appraisers).

HULL INSPECTION HULL Summary 2.1 Hull Construction

Construction methods and materials used: Vessel has 2 molded reinforced fiberglass (FRP) hulls, without coring- solid and with a tabbed-in longitudinal and transverse framing system, and a bonded inner and outer hull monocoque system. Below waterline machinery includes: 2 outboard propulsion units. The decks and house are constructed of molded reinforced fiberglass (FRP) and reinforced with a synthetic foam core. This vessel's scantlings would be considered heavy for its intended service. Mooring fittings include heavy duty well mounted bow cleat(s), cleats amidships on each sidedeck, and inboard cleats at the stern quarters with hawse holes. Strafe protection appears adequate. The hull to deck joint: A deck overlapping or shoe

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 6 of 29

box configuration sealed and fastened to the hull with mechanical fasteners and FRP tabbing, and protected by a plastic rub rail system. A swim platform is mounted to the transom. It appears solid and well mounted. A boarding ladder or some other means of access from the water is provided as recommended by ABYC H-41. 2.2 Integrity

This hull is a watertight compartment divided by non-watertight bulkheads. There is a self draining anchor locker in the forepeak. Hatches, doors, windows and port lights opening to exterior decks are apparently watertight types, meeting ABYC H-3.5.2 standards, except for the only weathertight companionway, and cockpit locker hatches.

2.3 Thru-hulls

Thru hull fittings appear to be serviceable and properly installed at reinforced locations in the hull and include threaded barrels with and bronze ball valves. All hose fittings below water line are double clamped as recommended by ways of a prudent mariner. A bag of emergency bungs was not sighted on board and recommended in the ways of a prudent mariner.

2.4 Condition summary

Components of the hull and deck structure are built and installed to ABYC standards and appear serviceable.

HULL EXTERIOR 2.5 Hull cosmetics:

Excellent condition-well protected and no severe external scratches chips or abrasions were sighted. One small gelcoat repair noted on the stbd hull beneath the vessel name.

2.6 Transom:

Conventional transom with cutout for outboard(s) and a swim platform mounted between the engines.

2.7 Swim Platform

Platform is FRP material well secured to the vessel. Rails surround the platform and open outward to accommodate a dinghy.

2.8 Boarding ladder:

Windline stainless steel ladder securely mounted in swim platform pocket, telescoping, and easily deployed by a person in the water.

2.9 Moist./Delam.:

Moisture meter readings on topsides near the water line and surrounding thru hull fittings are relatively dry. Cuprous anti-fouling paint gave false high readings by the moisture meter. Percussion testing with a phenolic hammer on a 6" grid pattern reveals: What appears to be solid laminate.

2.10 Condition summary: No evidence of damage or blistering. Wetted surface has fresh black anti-fouling paint. 2.11 Damage sighted:

No damage sighted.

ABOVE WATER LINE THRU-HULLS 2.12 -->STEM:

Anchor/rode locker drains.

2.13 -->HULL SIDES:

Bronze chromed mushroom head fittings. Used for; Cockpit /deck drains, bilge /sump drains, sink drains, A/C discharge drain(s), bait well drains, fish cleaning station drain, scuppered wet /dry lockers, and generator exhaust. Vents for: Fuel tank(s), waste tank(s), and generator/ battery compartment vent(s)

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 7 of 29

HULL BOTTOM 2.14 Osmotic blistering:

No evidence of blistering was visible on hull bottom at the time of inspection.

2.15 Void(s):

None detected.

2.16 Thru Hulls

All thru-hull fittings were adequately sealed and bonded to hull as sighted from exterior.

2.17 Transducers

Transducers for depth are properly mounted, adequately sealed and bonded to the hull.

2.18 Scoops /Screens

Screens are somewhat choked with marine growth and anti-fouling paint. Clear before commissioning.

ANODES 2.19 Outdrive(s):

Outboard zincs are wasted. Carefully examine all outboard/outdrive zincs. Some are hidden by prop etc. RECOMMEND: Replace drive zincs as necessary.

2.20 Hull mounted:

Hull zinc is wasted. RECOMMENDATION: Replace hull zinc(s).

2.21 Bonding:

Hull zinc is connected to vessel's bonding system.

2.22 Results

No evidence of abnormal galvanic or stray current corrosion is evident on the underwater metals. Sacrificial anodes are wasting normally.

BELOW WATER LINE THRU-HULLS 2.23 AFT BILGE :

Bronze seacock ball valve(s) installed aft bilges.

2.24 Sea valve used for:

Air Conditioner(s) raw water intake(s) stbd and Bait well raw water inlet. Generator raw water intake. Head raw water flush intake. Raw water wash down inlet. Waste holding tank(s) discharge.

2.25 Sea valve condition: Sea valves are all functional. Sea valve handle missing for the raw water washdown and waste tank discharge valves. (Handle found in tackle station). RECOMMENDATION: Replace missing valve handles or place valve in closed position. 2.26 Valves piped with:

Marine heavy duty rubber covered reinforced hose. Hose is appropriately double clamped.

2.27 Sea strainers:

All sea strainer(s) clear of debris.

HULL INTERIOR 2.28 Bilge(s):

Dried slime sighted in aft bilges. Danger of fouling the bilge pumps. RECOMMEND spraying with mild bleach solution or bilge cleaner, then hosed out.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 8 of 29

TOP DECK & SUPERSTRUCTURE DECK Summary 3.1 Ground tackle

Ground tackle includes a single capstan Simpson Lawrence electric windlass with helm and on-site foot control switches, a 1/4" approx 10' chain leader to 1/2" 3 strand nylon line, (unknown length), with spliced eyes, Shackles and swivels appear serviceable, but not safety wired., Anchor is a Fortress aluminum FX16- danforth style. There is no secondary or backup anchor and rode. Bitter end of rode(s) secured to vessel. System is installed and maintained to ABYC standards. Anchor hangs in a Windline bow roller assembly. Powers up and appears to be serviceable.

3.2 Safety holds

Grab rails are well placed and well mounted to the weatherdeck structures in the cockpit, bridge deck and helm, on the house, on the foredeck, on the swim platform, and in the cabin at the galley and/or in front of the stove, in the head, and for the companionways. Safety rails include: a bow rail at a minimum height of 24" and include a single course of 1.25" welded SS tubing from bows to cockpit and surrounding the swim platform.

3.3 Ladders and stairs

Below decks and companionway stairs are well mounted and sturdy with provided handholds and non-skid treads. A boarding ladder is provided. It is always available or deployable by a person in the water. ABYC H-41.9.1.

3.4 Miscellaneous

Canvas covers or convertible enclosures include a drop curtain with isinglass panels. All observed convertible and soft enclosures and covers are in good condition, do not obscure field of vision and the frames are well mounted and solid. The windshield or windscreen is of a typical marine style and quality utilizing safety glass or lexan of a sufficient thickness, gaskets are in good condition, the framework is solid and well mounted. The field of vision from the helm is unobstructed apparently meeting standards of ABYC H-1.5 to 1.8.

3.5 Condition summary

Components of the top deck and/or superstructure system are built and installed to ABYC standards and appear serviceable.

MAIN DECK & FITTINGS 3.6 Const. material:

Molded FRP construction with a synthetic core material.

3.7 Deck Surface:

White gelcoat with molded non skid fiberglass surface.

3.8 Moist /Delam:

Moisture meter readings were all acceptably dry over the deck and cockpit surfaces. When percussed with the phenolic hammer in a 6" grid pattern, all surfaces of the deck and cockpit sounded solid.

3.9 Windshield:

3 sections windshield that wraps around the bridge. Aluminum frame. Gaskets are in good condition. Windshield wiper(s) with washers are installed. One for each section of windshield. Windshield is of marine quality and apparently meets range of visibility standards of ABYC H-1.5 to 1.8. and is glazed appropriately to standards of H-3. Glazing has manufacturers marks. Vinyl inserts in the windshield frame have

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 9 of 29

shrunk and the voids should be filled to prevent water from entering the frame structure. Center windshield washer tube has cracked. Replace all three. 3.10 Window(s):

Sliding side windows in cabin structure. No screens on windows. Latches and hardware in place except knob for the port glass. Neither side window will open with reasonable force. Replace knob and repair window slide as necessary. Taylor Made opening portlights in cabin structure. No screens on portlights. Latches and hardware in place. Oval portlights open easily and appear serviceable but show evidence of leaking. Clean gaskets to assure a good seal.

3.11 Port(s) /port light(s):

3.12 Deck Hatches:

Taylor Made opening hatch- aluminum frame. Smoke lexan. No screen sighted. Hatches are well secured, seals in good condition, support arm(s) in place. Hatch(es) over accommodation area(s) is/are large enough for emergency egress. Meets ABYC standards.

3.13 Ventilation:

Large hatches on the bridge roof structure face forward to catch wind. Vents beneath the windshield frame both sides. Sliding windows in bridge cabin. Hatches below decks and opening portlights. In addition to air conditioning.

3.14 Chocks and cleats:

Heavy horn cleats, deck mounted at bow, amidships, and internal stern quarters with hawse holes. All are well sealed and secure. Chafe protection provided by properly place chocks or metal chafe strakes.

3.15 Scuppers /drains:

Scupper drains in deck or cockpit sole are clear, hoses secure and drains overboard. Some of the hatch gutters have scuppers partially clogged with debris. Clear all scuppers of debris for proper draining.

3.16 Transom shower:

Pullout handheld with hot and cold control valves. Appears serviceable. Sunpads forward of windshield. In good condition.

3.17 Other deck fittings:

3.18 Condition summary: Unless otherwise noted, deck system and related fittings meet ABYC standards and appear serviceable.

GROUND TACKLE 3.19 Anchor locker:

Large locker in the forepeak, with 2 deck access hatches. Clean and dry. Large enough to stow the anchor as well as other gear or dock lines etc.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

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Simpson Lawrence, with chain /rope gypsy. Foot controls on the foredeck are operational for raising or lowering anchor. Helm controlled switch is also functional.

3.20 Windlass:

3.21 Recommendations:

Ground tackle appears adequate and serviceable. Recommend laying out for closer inspection and installation of fathom markers to identify length. Rode should be adequate for at least a 4:1 scope of anchorage in home waters.

BRIDGE DECK / COCKPIT Helm is in the bridge. Bridge deck is 2 steps up from the cockpit, (approx 12" total).

3.22 Cockpit /Helm:

3.23 Top /superstructure: Tournament FRP hard top. 3.24 Sole:

FRP with molded non skid surface. Fitted carpet, snaps. Cockpit is 30" deep to the gunwales. There is padded combing on the gunwale surrounding the cockpit showing sun damage. Cockpit has courtesy lights that power up. Cockpit flood lights installed, power up and appear serviceable. Handheld shower installed, with hot and cold water. Appears serviceable. Coaming compartments for rod storage. Aft facing seat- seat back was not sighted.

3.25 Cockpit Equipment:

3.26 Door(s):

Companionway entrances off cockpit port and starboard. Folding plastic door portsides and sliding pocket door stbd. "L" shaped vinyl covered seating opposite helm station. Vinyl fully adjustable padded seat at helm. Vinyl in excellent condition for all the interior seating.

3.27 Seating:

3.28 Engine hatch(es):

Large hatches in the cockpit sole for access to machinery, batteries, genset, etc.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

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3.29 Condition summary: Unless otherwise noted, appears serviceable and built to ABYC standards.

FISHING EQUIPMENT FISHING GEAR There is a lighted live well with circulator and aerator pumps. Livewell has windows for viewing interior. The livewell drains overboard via scupper. The livewell system pump and aerator powers up. Pumps, valves, hoses and fittings are appropriate. Drain is clear. Appears serviceable.

4.1 Live bait wells:

4.2 Fish box(s)

Two wet/dry lockers beneath the cockpit sole with scupper drains and macerator pump out. Macerator stbd side is not functional. Repair or replace as necessary.

4.3 Rod holders:

There are rocket launcher style rod holders and there are thru-deck holders mounted on side decks /transom.

4.4 Lure storage:

There is a tackle station with several drawers provided.

4.5 Washdown system:

There is a raw water washdown system provided. The washdown system is operational.

4.6 Cleaning station:

There is a cutting board and sink with pressure water. Drains overboard.

CABIN INTERIOR APPOINTMENTS CABIN Summary 5.1 Heat and AC

Vessel has 16000 BTU Dometic Model VCD16/1-High Velocity 120 VAC central air conditioning with an adequately wired power supply. System includes a raw water thru-hull fitting with operating valve and a 120 VAC raw water pump. Vessel has heat provided by an AC reverse cycle heat exchanger (Central air system). System and filter located beneath the galley counter.

5.2 Galley

Galley appliances include: An all electric powered galley stove by Force 10 with a ceramic cooking surface. An Emerson "Professional" microwave oven. Refrigeration by 2 side by side double door AC or DC powered refrigerators with small freezer units and with an air cooled heat exchanger by Nova Kool. Countertop area and storage space is adequate. Double polished SS galley basin has hot and cold pressurized with a pullout sprayer. All power up and appear serviceable. Note that the stove does not have a power on indicator light!

5.3 Accommodations

There are sleeping facilities for (3) persons located on a queen size berth in the master stateroom portside, and a convertible twin size bunk/ nav station stbd side.

5.4 Entertainment

Entertainment includes: A stereo by Clarion, Model XMD3- AM/FM/CD and Sirius satellite ready. Powers up and appears serviceable with a control pad at the helm. (CD not tested). TV/DVD combo by Panasonic 11" in the master stateroom, Model

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 12 of 29

TC-11LV1 (Not HD). 5.5 Condition summary

Components of the cabin system are built and installed to ABYC standards and appear serviceable.

MAIN SALOON 5.6 Navigation station:

Table with storage under top. Swivel seat, Well lit with supplemental and/or natural lighting. Navigational instruments are not sighted on this vessel.

5.7 Bulkheads:

Well tabbed into hull. No cracks or separation sighted and no evidence of movement in any bulkhead.

5.8 Doors:

Open and close easily and latch properly.

5.9 Water intrusion:

Evidence of minor leaks beneath each of the oval portlights already mentioned.

5.10 Fabric & cushions:

Matching fabric covered cushions throughout cabin(s). Vinyl covered cushions throughout vessel. Cushions and coverings are in excellent condition.

5.11 Light fixtures:

12 volt cabin lights throughout the vessel. Lamps power up and appear serviceable.

5.12 Storage:

Ample.

5.13 Condition:

Clean and odor free. Maintenance and care is obvious. Interior is in well kept condition but needs detailing. Bridge carpet should be cleaned. From standing, mold is growing on some of the cabinet doors notably in the head, portside stateroom, and galley.

DINETTE 5.14 Table type:

Pedestal table in the bridge.

5.15 Seating:

L- shaped seating.

HEAD(S) 5.16 Number /Location:

Located on the port side. One enclosed head.

5.17 Toilet(s):

Electric flush pump. Flush system powers up and appears serviceable.

5.18 Toilet raw water:

Raw water intake thru bronze seacock.

5.19 Sink:

Stainless steel basin. Water source is from pressurized system. Appears serviceable. Supplied with hot and cold water.

5.20 Shower(s):

Sliding shower head on stainless steel grab rail. Separate valve controls. Teak grate in sole with an electric bilge pump for draining overboard.

5.21 Shower pump:

Functional, discharges overboard above water line.

5.22 Damage sighted:

Knob on left hand mirror is stuck.

5.23 NOTE:

The head is clean and odor free. As new condition.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 13 of 29

AC System(s) 5.24 Temp Controls:

Digital temperature controls.

5.25 Temp pull down:

Ambient temperature was too cool to cycle AC compressor. Reverse cycle heat worked well.

5.26 Filter(s) Condition:

Filters appeared clean. A/C filter(s) should be checked and cleaned frequently to allow the A/C unit to operate at maximum efficiency.

5.27 Drip trays:

Yes, one for each condensing unit. Functional with drains.

5.28 Condensate drain:

Drains to above waterline thru-hull.

5.29 Raw water strainer: Strainer located inline at A/C raw water pump in the machinery compartment stbd side of cockpit. Strainer is clear. 5.30 Hoses /connections:

Hoses are clamped and secure on all fittings sighted.

5.31 Raw water pump:

110 VAC pump functioned well when testing A/C units. Provides a good flow of raw water. Exits stbd bow. None. Appears serviceable. Built and installed to ABYC standards. Ductwork stbd hull forward of the hot water heater has come disconnected. Replace as necessary.

5.32 Damage sighted:

Heating System(s) 5.33 Manufacturer:

Reverse cycle system. See Air Conditioning section.

STEERING SYSTEM STEERING Summary 6.1 System

The vessel has a Sea Star hydraulic steering system without power assist and wheel controlled via an 18" SS destroyer type wheel with knob. Steering stations are located at: A helm on the bridge deck. Steering is accomplished by steering the outboard(s).

6.2 Condition summary

Components of the steering system are built and installed to ABYC standards and appear serviceable.

PROPULSION SYSTEM PROPULSION Summary 7.1 Propulsion:

The vessel is propelled by dual engines, gasoline fueled, 4 stroke, V6 cylinders configuration, fuel injected, and naturally aspirated. Outboard(s) system installation manufactured by: Yamaha. Engine year 2005 and Model: F250TURD, 250 HP rated @5000 to 6000 RPM. Serial #(s)- Port engine: XXXXX Starboard engine:

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 14 of 29

XXXXX. Engine(s) hours: 152- (Hours read from onboard instruments and ECM download). 7.2 Controls:

Manual type -outboard controls by Yamaha with tilt and trim switch on the handle. On this vessel is one control station located at and the bridge deck helm. Flame arrestor(s) are installed and appropriate for the gasoline engine(s).

7.3 Alarms

There are alarms for: Low oil pressure and high coolant temperature. The alarms are: Audible, visual, and appear to be operating satisfactorily when the engine(s) started. Idiot lights only- no gauges for backup.

7.4 Shutdown

The emergency shutdown key and lanyard is available and, tested. Appears operational.

7.5 Start-in-gear

Start-in-gear protection is appropriate for this boat and operational.

7.6 Ventilation

Ventilation of the machinery space, (genset), is appropriate for this vessel and operational and is comprised of natural ventilation ducted to appropriate areas with power blower assist.

7.7 Condition summary

Components of the propulsion system are built and installed to ABYC standards and appear serviceable.

7.8 NOTE:

• It is good practice when buying a used vessel with an outboard motor, (and maintenance records are not available), that all filters, fluids (Lower unit gear case) be changed, and the raw water cooling impeller(s) also be changed. As stated in the Terms and Conditions agreement, It is understood that the attending surveyor is not an engine/transmission surveyor. As such, I recommend if any doubt, that all outboards engines be inspected by a qualified engine surveyor/mechanic to determine the internal condition of the engine(s), lower unit gears, etc.

MAIN ENGINE(S) 7.9 Hoses and clamps:

Serviceable condition. No soft spots or cracks sighted.

7.10 Cooling system(s):

Raw water intake through lower gearcase, circulated through engine, combined with engine exhaust and routed through the outboard prop. raw water intakes are clear of debris and marine growth.

7.11 Oil level:

Clean & full on dipstick. For both engines. An oil sample was drawn from each/the engine for independent lab analysis. Engine(s) operated for at least 20 minutes and/or until coolant reached 140 degrees. Sample was carefully and cleanly aspirated from the sump via the dipstick opening. Care was taken to avoid contamination. Results to be emailed separately. Surveyor supports the recommendations of the spectrographic analysis report from the HO Penn laboratoryif any- and does not comment separately.

7.12 Fuel pump(s):

Engine mounted mechanical or vacuum operated.

7.13 Fuel supply lines:

USCG type A1 flex. Fuel lines and hoses appear appropriate and serviceable.

7.14 Fuel shutoff:

Located at the fuel manifold.

7.15 Oil filter(s):

Spin-on cartridge style. Located on engine block but accessible.

7.16 Fuel filter(s):

Engine mounted filter and Yamaha remote mounted separator/filter.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 15 of 29

7.17 Engine mounts:

Outboard bolted to transom with backing plates. Appears secure.

7.18 Engine ground:

Part of outboard harness. Not visible.

7.19 Engine(s) operated:

Engines observed on sea trial. Go to "Sea Trial" section for details.

7.20 Fresh water flush:

Available for both engines. Not tested. Appearance leads one to believe these engines have been well maintained. Outboards installed to ABYC standards and appear serviceable.

7.21 Condition summary:

DRIVETRAIN 7.22 Transmission

Transmission fluid level and condition: Lower unit gear oil is full and clean. Recently changed.

7.23 Prop(s):

Three blades fixed, stainless steel Yamaha SS Salt Water Series II counter- rotating. Size is: D17" X P15.5". Props are in good condition with no cracks, corrosion or bent, nicked or chipped blades. Prop nut is secure and properly locked in place with lock washer each prop.

7.24 Damage sighted:

None.

ENGINE INSTRUMENTS AND CONTROLS 7.25 Throttle and shift:

Yamaha OEM control(s). The tilt/trim switch controls are built into the handle. Control(s) are mounted at the helm. Control(s) worked stiffly at first but then smoothly on the sea trial and appear serviceable.

7.26 Blowers:

Genset blower powers up and is fully functional.

7.27 Gauge cluster:

Tachometer(s), DC voltmeter(s), Engine(s) hour meter, Speedometer or knotmeter, Fuel gauge(s), Power trim indicator(s), Engine(s) fuel use in gallons per hour and miles per gallon, RPM synchronizer, and are part of a; Yamaha gauge package. Idiot lights for the Engine(s) temperature and Engine(s) oil Pressure.

7.28 Power trim:

Indicator for the stbd engine not functional. Usually the sending unit needs to be replaced.

7.29 Condition summary: Installed to ABYC and USCG standards. Appears serviceable.

NAVIGATION ELECTRONICS-V30 NAVIGATION EQUIPMENT Full and Summary 8.1 Navigation station:

All navigational instruments are at the helm. Well lit with supplemental and/or natural lighting. Red night light provided.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 16 of 29

Danforth Globemaster. Lighted and shaded. Located ahead of the windscreen on the foredeck- shielded. The compass appears functional but the compass' fluid has leaked out creating a large bubble. RECOMMENDATION: Repair or replace compass to restore full functionality.

8.2 Compass(es):

8.3 VHF radio(s):

SIMRAD RS86 with hailer. This VHF radio has a NMMEA interface and is DSC capable- register the vessel and owner with the USCG. Go to http://www.boatus.com/MMSI/ to obtain a MMSI number- it's free. Radio powers up. At sea trial radio powers up and transmits/receives- appears serviceable.

8.4 Autopilot(s):

SIMRAD AP26 Unit powers up and is operational at the sea trial.

8.5 Depth sounder(s):

Part of the SIMRAD system.

8.6 Speed /log:

Part of the SIMRAD system.

8.7 Multi-function:

There are 3 multi-functional screens- CE34, CE54, and radar. Instrument powers up.

8.8 Chart plotter(s):

SIMRAD. The GPS map instrument powers up.

8.9 Radar:

SIMRAD. The radar powers up. Open array antenna 36" Model RB716. VHF- Adjustable mount and Radar. GPS and the Satellite radio antenna mast has been bent. Repair or replace as necessary.

8.10 Antenna(s):

8.11 Fish finder(s):

SIMRAD.

8.12 Loud hailer(s):

Function of the above mentioned VHF radio.

8.13 Condition summary: Vessel is well equipped for its' intended service. Very costly system.

ELECTRICAL SYSTEMS ELECTRICAL SYSTEMS Summary 9.1 House Batteries:

There is/are two, 6 volt, wired in series for 12 VDC system, wet cell lead acid, and deep cycle batteries.

9.2 Starting batteries:

There is/are: two, 12 volt, wet cell lead acid, Group 27 size, combined deep cycle /cranking batteries dedicated to engine starting.

9.3 Battery installation:

Batteries are secured: in boxes, with straps, and the terminals are protected from accidental short circuiting. Apparently meets standards of ABYC E-10 and 33CFR Sec. 183.420.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 17 of 29

9.4 DC system:

There are on / off switches for each battery bank. They are appropriate, accessible and functional. Panels and meters are marine appropriate and appear functional. Overcurrent current protection is installed at the house battery bank per ABYC E-11. Overcurrent protection is installed on each branch of the DC system. The DC electrical system utilizes appropriate marine grade UL approved wire, properly bundled and supported wherever sighted. Problems noted with the DC system are noted. Refer below.

9.5 AC system:

The shore power inlet: uses two 120 VAC /30 amps receptacles, and is marine grade and in good condition. The main breaker is within 10' of the inlet, dual pole and offers a reverse polarity warning. AC system utilizes marine grade UL approved wire, properly bundled, protected and supported wherever sighted. Wiring sighted is in good condition. The AC panel is appropriate, well labeled with branch breaker switches and has reverse polarity indication. GFCI is installed in all appropriate locations, and trips when a tester is inserted in the outlet. Kohler, powered by a: two cylinders, gasoline engine, and rated per label: 5 KW, Generator is cooled by: raw water to coolant heat exchanger, and discharged through the wet muffler and exhaust.

9.6 Generator:

9.7 Bonding /galvanics

A complete bonding system is installed on the vessel. Twin engines are properly connected to each other by a common conductor circuit. The remaining bonding system is well established where sighted; electrical system, seacocks, shaft logs, rudders, sea strainers, pumps, fuel system/tanks, hull zincs are all bonded. The bonding system uses individual 8 gauge green insulated wire or copper strips and is wired into the hull mounted Dyna (grounding) plate. Bonding is accomplished using an 8 gauge green or green/yellow wire to common terminal block. Sacrificial anodes have been placed on the vessel's underwater machinery. A hull zinc has been placed and connected to the bonding system. A Quicksilver Galvanic Isolator has been installed to prevent stray current from entering this vessel when connected to shore power.

9.8 Condition summary

Components of the ship's electrical system are built and installed to ABYC standards, appear serviceable, and with exceptions.

SHIP'S BATTERIES 9.9 # /type of batteries:

Total number of batteries installed: There are four batteries on this vessel. Age unknown- suggest replacement.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 18 of 29

9.10 Voltage check:

Start/combo battery voltage reading is: at least 12.7 VDC. House battery(s) voltage reading is: at least 12.7 VDC. All batteries were load tested by Bass River Marina and appear to be serviceable.

9.11 Storage:

Wing nuts are not appropriate for heavy cable (larger that 6 AWG) connections to the battery per ABYC10.8.3. Replace with SS nuts.

D.C. ELECTRICAL SYSTEMS 9.12 Cables /wiring:

Is an appropriate marine type, gauge and appear in serviceable condition. There is a notable problem with the house circuit. It is unable to sustain high loads without shutting down. Diagnose and repair.

9.13 Terminal boots:

Boots or other appropriate system is employed to protect all positive terminal where sighted. On /off switches for each battery bank by BEP plus bridging switch. Also each bank has a Voltage Sensitive Relay switch which cuts power if the voltage gets low. 2 switches have broken knobsreplace knobs.

9.14 Battery switch:

9.15 Battery monitor:

Digital battery monitor at the panel.

9.16 Charging system:

Engine driven alternator(s). Producing DC current while engine(s) running. Appear serviceable. AC to DC battery converter/charger by Xantrex Model True Charge 40+. All power up and appear serviceable. Installed to ABYC standards.

9.17 DC panel:

Port hull. Each branch switch is clearly labeled as to purpose. Panel could not be opened for inspection, (screwed down).

9.18 Condition summary: The DC system installed to ABYC E-10 and 11 standards. Appears serviceable.

A.C. ELECTRICAL SYSTEMS 9.19 Shore pwr. cord:

Two 30 AMP, Marinco. Older appearing cord has corroded terminals in the ship's plug and it will not fit fully into the outlet. Replace cord.

9.20 AC selector switch:

Shore power or Generator or Inverter manual break before make switch located on the main AC panel.

9.21 Branch breakers:

All A.C. circuits are adequately protected by branch breakers and/or fuses.

9.22 AC panel(s):

Custom panel by vessel manufacturer. Each branch switch is clearly labeled as to purpose.

9.23 Reverse polarity:

Appears functional for both inlets and outlets tested OK for proper polarity.

9.24 GFCI protection:

GFCI equipped 110V outlets have been installed in all wet locations as recommended by ABYC E-11.15.3.5. Outlet cover in the head is falling off and needs an attachment screw.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 19 of 29

9.25 A.C. meter(s):

Digital type, voltmeter gauge is installed.

9.26 A.C. grounding:

Whether AC system is connected to vessel's ground is unknown. Unable to sight all wiring. If in doubt, have an electrician check wiring.

9.27 Terminations:

A.C. wiring is properly terminated where visible. No wire nuts or loose connections sighted.

9.28 Wire type:

Stranded tinned copper boat cable- size and rating, where sighted, appears correct and serviceable for intended use.

9.29 Galvanic Isolator:

Quicksilver-Not tested.

9.30 Condition summary: AC system and equipment is installed to ABYC E-11 standards. Appears serviceable.

GENERATOR 9.31 Manuf. /Model:

Kohler, powered by a: two cylinders, gasoline engine, and rated per label: 120 Volts 60 cycle AC, 5 KW.

9.32 Model /serial #:

Model: 5E Serial # XXXX.

9.33 Hour meter:

Hour meter reads: 30 hours.

9.34 Hoses /clamps:

Good condition-No cracks sighted.

9.35 Cooling system:

Raw water strainer installed. Fresh water / heat exchanger cooled- access to exchanger is not possible without tools.

9.36 Oil level:

Clean & full on dipstick.

9.37 Flame arrestor(s):

Yes- USCG type.

9.38 Ignition protection:

Yes -Distributor, Alternator and Starter are OEM and ignition protected.

9.39 Fuel supply lines:

USCG A1 flex.

9.40 Genset mounts:

Genset mounts appear to be well secured to the vessel in a structurally reinforced location.

9.41 Ground cable:

Genset is grounded properly with an adequate battery cable.

9.42 Installation:

In an enclosed and insulated cabinet.

9.43 Exhaust piping:

Side hull exhaust. Flexible water cooled hose. Exhaust hose is properly double clamped at both ends.

9.44 Muffler(s):

Centek muffler. Exhaust system appears serviceable. Double clamped and routed high before exiting. No leaks sighted.

9.45 Ventilation:

Genset space has a dedicated blower and natural ventilation.

9.46 Warning labels:

Genset has OEM safety and warning labels.

9.47 Accessibility:

One side of cabinet only.

9.48 Generator tested:

Genset failed to start and the water pump is known to need repair. RECOMMEND: Service and repair genset as necessary.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 20 of 29

9.49 Condition summary: Genset, wiring, cooling, exhaust and wiring appear serviceable and installed to ABYC A-27 standards.

TANKAGE TANKAGE Summary 10.1 Marine Sanitation

An electric pump flush toilet is connected to: A Type IIIB MSD system, that apparently meets 33CFR159 requirements as long as the seacock is locked closed while in protected waters. Holding tank has a 30 gallon capacity per broker listing.

10.2 Water Heater

Force 10 Model 41103- 11 gallon water heater: 120 VAC. Includes a 150 psi relief valve plumbed to a AWL thru hull in the stbd hull, a drain spigot, and is built and installed to ABYC standards and CFR requirements. Relief valve releases to an AWL thru-hull on the stbd topside as ABYC recommends. Beware of this outlet as it could without warning release superheated water and steam.

10.3 Fuel Tanks

There are 2 fuel tanks made of 5052 aluminum with a capacity of 150 gallons each. Tanks meet accessibility requirements. Deck fill plates, hoses, vent, supply and return lines and fittings inspected and tank has: A fuel gauge fitting. Fuel piping is: USCG Type A-1 fuel hose and vent hose application and with a shut off valve at the tank outlet fitting. Metallic fuel fill deck plate is attached to grounding/bonding as recommended. Hoses are double clamped at all connections. Tank is manufactured and properly labeled by Coastline Equipment Inc. of Bellingham, WA. System is built and installed to ABYC standards and CFR requirements.

10.4 LPG/CNG System

There is no LP or CN gas system on this vessel.

10.5 Water Tanks

Fresh non-potable water storage tank has a total capacity known to be 60 gallons per broker listing. Piping throughout the vessel is color coded, (red=hot / blue=cold), via PVC tubing, and pumped, and by a system's pressure regulated 12 VDC pump. System is installed and maintained to ABYC H-23 standards. Appears to be serviceable. There is a pressure regulated city water inlet to the vessel. Note: Disconnect city water when not on the vessel.

10.6 Condition summary Components of the ship's tankage and related components systems are built and installed to ABYC standards and appear serviceable.

WATER HEATER(S) 10.7 Tank location(s):

Machinery space beneath the stbd cockpit.

10.8 Jacket material:

Stainless steel cabinet.

10.9 Relief valve(s):

A 150 psi relief valve is installed on the heater. ABYC recommends the relief valve rated to not more than 150% (75 psi) of the system working pressure and discharge directed overboard or to a harmless area in the bilge. Recommend compliance to prevent injury or damage to plumbing or machinery sharing the water heater space.

10.10 Condition summary:

Hot water heater appears serviceable, is built and installed to ABYC and CFR standards.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 21 of 29

AUXILIARY EQUIPMENT MISCELLANEOUS EQUIPMENT & ACCESSORIES 11.1 Boarding ladder:

Boarding ladder is available and appears serviceable. Accessible and deployable from the water.

11.2 Deck brush:

None sighted.

11.3 Cockpit cushions:

Yes available- Appear to be in good condition.

11.4 Cup Holder:

Yes, drink holders sighted.

11.5 Charts:

Coastal area charts sighted.

11.6 Cable TV:

Cable TV inlet shore connection. Outlets in vessel cabin area.

11.7 Deck light:

Cockpit flood lights mounted on superstructure.

11.8 Docking lines:

Yes, assorted size and length both braided and twisted nylon.

11.9 Fenders:

Yes, inflatable docking fenders are available. Stainless steel fender holders on bow rail.

SEA TRIAL SEA TRIAL DETAILS 12.1 Operated from /to:

Marina to Nantucket Sound and back.

12.2 Attendees:

Broker and myself.

12.3 Vessel operated by:

The broker who is a licensed captain.

12.4 Sea conditions:

Winds calm SE. Seas 2-3'

12.5 Weather/temp:

Clear weather, temp approx 60F.

SEA TRIAL OBSERVATIONS 12.6 Start test:

Start in gear protection is appropriate and operational. Tested with engine start.

12.7 Cranking:

The engine(s) started without excessive cranking.

12.8 Exhaust smoke:

The engine exhaust smoke was nonexistent throughout the sea trial.

12.9 Cooling water:

The outboard(s) cooling water monitor stream appeared adequate and normal.

12.10 Instruments:

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

12.11 Max throttle:

Manufacturer's recommended max RPM is 5000-6000- Engines reached 5200 RPM at full throttle.

12.12 Steering:

The steering system operated normally/ smoothly from stop to stop. Vessel made sharp turns at high speed without cavitating or skidding. Vessel remains level on turns.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 22 of 29

12.13 Throttle levers:

The throttles operated normally/smoothly.

12.14 Transmission(s):

The transmissions operated normally/smoothly.

12.15 Backdown test:

The backdown test was satisfactory. Engine mounts secure & No unusual movement of the engine(s) was sighted.

12.16 Vibrations:

There were no excessive vibrations noted at any time during the sea trial run except when backing down.

12.17 Dead engine test

With one engine shut down, (simulating a dead engine), the vessel remained easily navigable and should be able to return to port safely. Each engine attained 4200 rpm at WOT running individually, (equal power capability), ("dead" engine remained in the water creating some drag). Note: In the event of an actual emergency, it is advised to not run at high speed as this puts an undue burden on the operating engine and may cause serious damage to the engine and/or transmission.

12.18 Leaks:

There were no oil, coolant or other leaks observed during or after the sea trial.

SEA TRIAL ENGINE INSTRUMENT READINGS 12.19 RPM /Speed:

IDLE: 600 rpm SLOW: 1600 rpm/ 5.8 kts 2.1 gph HALF: 2500 rpm/ 8 kts 5.8 gph WOT: 5200 rpm/ 25 kts 20 gph 1.4 mpg. CRUISE: 4500 rpm/ 19 kts 12.8 gph 2.0 mpg. Speed readings by GPS. SOG (Speed over ground)

12.20 Volts DC:

14.5 VDC at all throttles.

12.21 Water temp:

N.A.

12.22 Oil pressure:

N.A.

12.23 Oil temp:

N.A.

12.24 Comments:

All above readings of instruments were within normal range unless otherwise specified in Sea Trial Section. Vessel handles easily and is very maneuverable at all speeds. Trimming and speed have to be adjusted for each sea direction and size. "Drumming" is produced when larger waves contact the underside of the bridge.

SAFETY EQUIPMENT DEWATERING PUMPS 13.1 Forward bilge:

One pump for each hull. Shurflo centrifugal pumps, 700 GPH each with an automatic built in float switch or sensor. Pumps power up and float switches are operational. Control station at the electrical panel.

13.2 Amidships bilge:

One pump for each hull. Shurflo centrifugal pumps, 700 GPH each with an automatic built in float switch or sensor. Pumps power up and float switches are operational. Control station at the electrical panel.

13.3 Aft bilge:

Both pumps are disabled and need repair or replacement. Because of the height of discharge, a diaphragm pump mounted higher that would suck rather than push the water out the bilge would work better and avoid frequent recycling.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 23 of 29

U.S.C.G. REQUIRED 13.4 Requred equipment: Visual and pyrotechnic signals: There are at least 3- 12 Ga pistol fired aerial flares are sighted and the pyrotechnic visual devices that have expired and must be replaced- keep expired devices for backup or turn in at a fire station. Navigation lights: appropriate and operational except the following navigation lights are either not operational: by definition: The port red side light must show red to port from dead ahead to 22.5 degrees abaft the beam on its respective side. The portside (red) light is not operational. Sound devices: This vessel has an electric horn and appears functional. USCG Placards: Oil Discharge Placard: NO Oil Pollution Placard was sighted. RECOMMENDATION: USCG regulations state vessels over 26' must have a minimum of a 5" X 8" placard posted. Install USCG ''No Discharge of Oil'' placard in or near engine space or bilge pump station to comply with 33 CFR 155.450. Garbage and Waste placard: the required MARPOL (Garbage) placard not sighted. RECOMMENDATION: Acquire and post a Trash Disposal Placard near waste area to comply with 33 CFR 151.59 (Any vessel 26' or more in length). PFDs and Life Jackets: Vessel has sufficient and appropriate PFDs on board. Type I Offshore: There are two. Type II Basic: There is/are six. Type III PFD (Vest): There are two. Type IV (Throwable): There is one USCG type IV throwable cushions without any retrieving line attached. At least 50' of line should be attached to the throwable device for retrieval. Fire Fighting Equipment: Vessel meets requirements. Fixed fire extinguishers appear serviceable and installed to ABYC recommendations and meet requirements of the USCG. Clean Agent type automatic system located in the genset space by Fireboy- "Ready" light is on indicating full charge. Extinguisher has outdated or no certification tag. RECOMMENDATION: ABYC A-4 and NFPA 12A recommends that fixed fire protection systems be checked and reweighed at one year intervals per manufacturers recommendations, and tagged accordingly. This is especially important when no gauge is installed. Service or replace as necessary immediately.

AUXILIARY SAFETY EQUIPMENT 13.5 Recommended

The following safety equipment is strongly recommended in the ways of a prudent mariner: First aid kit: No first aid kit sighted. Highly recommended. Smoke detector: None sighted. RECOMMENDATION: NFPA 12.3 Smoke Detection - All vessels 26 ft (8m) or more in length with accommodation spaces intended for sleeping shall be equipped with a single station smoke alarm that is listed to UL 217, Standard for Single and Multiple Station Smoke Alarms, for recreational vehicles and is installed and maintained according to the manufacturer's instructions. Recommend compliance with NFPA 302 and install a smoke detector. CO detectors: Push button test OK. Appears serviceable. Emergency shutdown: Emergency shutdown with lanyard available at helm position. Deck lighting available: appear to be operational and effective. aftdeck or cockpit floodlight(s). Search light: No, highly recommended. EPIRB: No EPIRB on board. Recommended for all offshore ventures. Units may be rented from BoatUS. Man overboard: No, design MOB system and provide necessary equipment. Drill with all hands. Deficiencies: USCG required safety equipment deficiencies on this vessel must be amended before putting to sea. Refer to Safety Equipment section for specific deficiencies, then

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 24 of 29

refer to the USCG Safety Equipment Chart following this section to properly equip this vessel.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 25 of 29

RECOMMENDATIONS: PRIORITY I - SAFETY & REGULATORY RECOMMENDATIONS: (MAY BE MANDATORY) CABIN INTERIOR APPOINTMENTS CABIN Summary 5.2 Galley 1. Note that the stove does not have a power on indicator light! ELECTRICAL SYSTEMS A.C. ELECTRICAL SYSTEMS 9.19 Shore pwr. cord: 2. Older appearing cord has corroded terminals in the ship's plug and it will not fit fully into the outlet. Replace cord. SAFETY EQUIPMENT DEWATERING PUMPS 13.3 Aft bilge: 3. Both pumps are disabled and need repair or replacement. U.S.C.G. REQUIRED 13.4 Requred equipment: 4. the pyrotechnic visual devices that have expired and must be replaced- keep expired devices for backup or turn in at a fire station. the following navigation lights are either not operational: The portside (red) light is not operational. Install USCG ''No Discharge of Oil'' placard in or near engine space or bilge pump station to comply with 33 CFR 155.450. Acquire and post a Trash Disposal Placard near waste area to comply with 33 CFR 151.59 Extinguisher has outdated or no certification tag. RECOMMENDATION: ABYC A-4 and NFPA 12A recommends that fixed fire protection systems be checked and reweighed at one year intervals per manufacturers recommendations, and tagged accordingly. This is especially important when no gauge is installed. Service or replace as necessary immediately. AUXILIARY SAFETY EQUIPMENT 13.5 Recommended 5. Recommend compliance with NFPA 302 and install a smoke detector. USCG required safety equipment deficiencies on this vessel must be amended before putting to sea. Refer to Safety Equipment section for specific deficiencies, then refer to the USCG Safety Equipment Chart following this section to properly equip this vessel.

PRIORITY II - MAINTENANCE & STANDARDS RELATED: (NOT NORMALLY MANDATORY) HULL INSPECTION HULL BOTTOM 2.18 Scoops /Screens 1. Screens are somewhat choked with marine growth and anti-fouling paint. Clear before commissioning. BELOW WATER LINE THRU-HULLS 2.25 Sea valve condition: 2. Sea valve handle missing for the raw water washdown and waste tank discharge valves. (Handle found in tackle station). RECOMMENDATION: Replace missing valve handles or place valve in closed position. TOP DECK & SUPERSTRUCTURE MAIN DECK & FITTINGS 3.9 Windshield: 3. Center windshield washer tube has cracked. Replace all three. 3.10 Window(s): 4. Neither side window will open with reasonable force. Replace knob and repair window slide as necessary.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 26 of 29

3.11 Port(s) /port light(s): 5. Oval portlights open easily and appear serviceable but show evidence of leaking. Clean gaskets to assure a good seal. 3.15 Scuppers /drains: 6. Clear all scuppers of debris for proper draining. FISHING EQUIPMENT FISHING GEAR 4.2 Fish box(s) 7. Macerator stbd side is not functional. Repair or replace as necessary. CABIN INTERIOR APPOINTMENTS HEAD(S) 5.22 Damage sighted: 8. Knob on left hand mirror is stuck. AC System(s) 5.32 Damage sighted: 9. Ductwork stbd hull forward of the hot water heater has come disconnected. Replace as necessary. PROPULSION SYSTEM ENGINE INSTRUMENTS AND CONTROLS 7.28 Power trim: 10. Indicator for the stbd engine not functional. Usually the sending unit needs to be replaced. NAVIGATION ELECTRONICS-V30 NAVIGATION EQUIPMENT Full and Summary 8.10 Antenna(s): 11. GPS and the Satellite radio antenna mast has been bent. Repair or replace as necessary. ELECTRICAL SYSTEMS D.C. ELECTRICAL SYSTEMS 9.12 Cables /wiring: 12. There is a notable problem with the house circuit. It is unable to sustain high loads without shutting down. Diagnose and repair. 9.14 Battery switch: 13. 2 switches have broken knobs- replace knobs. A.C. ELECTRICAL SYSTEMS 9.24 GFCI protection: 14. Outlet cover in the head is falling off and needs an attachment screw. GENERATOR 9.48 Generator tested: 15. Genset failed to start and the water pump is known to need repair. RECOMMEND: Service and repair genset as necessary.

OTHER RECOMMENDATIONS: (SUGGESTIONS IN THE WAYS OF A PRUDENT MARINER) GENERAL SURVEY INFORMATION SURVEY STANDARDS 1.1 Standards followed: 1. This vessel was not surveyed to any standards or regulations that are applicable to the Australian Coast Guard or other regulatory body of that country. Buyer is responsible to prepare the vessel to comply. TOP DECK & SUPERSTRUCTURE DECK Summary 3.1 Ground tackle 2. There is no secondary or backup anchor and rode.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 27 of 29

MAIN DECK & FITTINGS 3.9 Windshield: 3. Vinyl inserts in the windshield frame have shrunk and the voids should be filled to prevent water from entering the frame structure. CABIN INTERIOR APPOINTMENTS MAIN SALOON 5.13 Condition: 4. Interior is in well kept condition but needs detailing. Bridge carpet should be cleaned. From standing, mold is growing on some of the cabinet doors notably in the head, portside stateroom, and galley. NAVIGATION ELECTRONICS-V30 NAVIGATION EQUIPMENT Full and Summary 8.3 VHF radio(s): 5. This VHF radio has a NMMEA interface and is DSC capable- register the vessel and owner with the USCG. Go to http://www.boatus.com/MMSI/ to obtain a MMSI number- it's free. ELECTRICAL SYSTEMS SHIP'S BATTERIES 9.11 Storage: 6. Wing nuts are not appropriate for heavy cable (larger that 6 AWG) connections to the battery per ABYC10.8.3. Replace with SS nuts. TANKAGE TANKAGE Summary 10.2 Water Heater 7. Relief valve releases to an AWL thru-hull on the stbd topside as ABYC recommends. Beware of this outlet as it could without warning release superheated water and steam. SAFETY EQUIPMENT DEWATERING PUMPS 13.3 Aft bilge: 8. Because of the height of discharge, a diaphragm pump mounted higher that would suck rather than push the water out the bilge would work better and avoid frequent recycling. AUXILIARY SAFETY EQUIPMENT 13.5 Recommended 9. No EPIRB on board. Recommended for all offshore ventures. Units may be rented from BoatUS. No, design MOB system and provide necessary equipment. Drill with all hands.

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 28 of 29

CLOSING STATEMENT & SIGNATURE: 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, impartial, and unbiased professional analyses, opinions and conclusions. I have no, (or the specified), present or prospective interest in the property that is the subject of this report, and I have no, (or the specified), personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. my engagement in this assignment was not contingent upon developing or reporting predetermined results. my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. my analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice, (USPAP). no one provided significant business and /or intangible asset appraisal assistance to the person signing this certification. (If there are exceptions, the name of each individual providing significant business and/or intangible asset appraisal assistance must be stated).

This report is submitted in confidence for the exclusive use of without prejudice to the rights and/or interests of other concerned parties and may not be used for any other purpose or relied upon by any other person.

ATTENDING SURVEYOR: Peter J. Spang, SAMS® AMS®

Surveyed for: / 2005 Glacier Bay 3480 Ocean Runner Surveyed by: Turnstone Marine Survey, LLC, Marstons Mills MA

Report file #: Example Page no: 29 of 29