The following is an example of a Condition & Valuation Survey completed for the owner of a similar 58' Hatteras motoryacht.

C & V SURVEY
Condition & Valuation

Client: Removed for privacy	Date of report: May 22nd 2006
Address: Removed for privacy	Date of inspection: May 16th 2006
San Clemente, CA 92672	Our file #: 06-25256

VESSEL DESCRIPTION

Builder: Hatteras	Doc. #: Removed for privacy
Model/type: Flybridge Motor Yacht	Engine/MFG: (2) Detroit Diesel
Year: 1979	H.P. per: Unknown
Length: 58’	Serial numbers: S – 8VF038160 P – 8VF?434
Draft: 4’ 9” *	Type of instal. : Diesel, 8-cylinders, IB, twin turbocharged
Beam: 15’ 10” *	HIN: Removed for privacy
Name: Removed for privacy	Generator: None seen
* sister ship’s listing specifications	Hailing Port: Wilmington, DE

HULL & STRUCTURE

The vessel was inspected while afloat. Hull construction material is molded fiberglass. Deck is constructed of molded fiberglass and above deck structures are constructed of molded fiberglass. Coring is unknown. Bulkheads are constructed of plywood. Overall condition of the hull structure appears good. The vessel’s weight is unknown. Exterior rails and hardware appear satisfactory. Cosmetic condition of vessel appears satisfactory externally and satisfactory – good internally. Vessel’s external colors are white with black stripes. Below waterline through hull fittings appear satisfactory – marginal. The vessel is equipped with two manual and four electric/automatic bilge pumps that appear satisfactory and the bilge is holding minimal water and oil in the engine room. The ventilation system consists of a blower in one engine room and natural ventilation and appears satisfactory. General housekeeping appears good.

Summary: Satisfactory – Good

MACHINE SYSTEMS

Engines’ external surfaces appear satisfactory and exhibit moderate oil leaks. Engine hour meters exhibit Starboard – 1759 & 959 hours and Port – 1633 & 966 hours. Motor mounts appear satisfactory. Cooling systems appear satisfactory. Fuel systems and components appear satisfactory. Exhaust systems and components appear satisfactory, with apparent leak(s) outboard of port engine. Electrical systems and components appear satisfactory. Engine control systems appear satisfactory and shaft logs appear satisfactory. Steering control systems appear satisfactory and rudder ports appear satisfactory. Propulsion components were not examined. Waste systems and components appear satisfactory. General service seawater systems appear satisfactory.

Summary: Satisfactory

FUEL SYSTEM

There is an unknown capacity in several fiberglass tanks. Fuel tank surfaces are mostly inaccessible and the securing mechanism appears good. The fuel fill, vent, feed and return lines and components appear satisfactory. There are apparent fuel leaks inboard and aft of both engines.

Summary: Satisfactory

ELECTRICAL SYSTEMS

The AC shore cords, inlets and connections appear satisfactory. The AC wiring and outlets appear satisfactory. The AC main feeds are protected with circuit breakers. Battery arrangement appears satisfactory. Batteries are equipped with a disconnect switch. DC wiring appears satisfactory. Circuit protection for the AC and DC branch system appears satisfactory. Wire terminations and connections appear satisfactory. Wire organization and arrangement appears satisfactory.

Summary: Satisfactory

SAFETY AND LIFE SAVING

Vessel has seven portable fire extinguishers – July 2005. Vessel has a CO2 fixed fire suppression system – 1995. The safety components include: numerous PFDs and two throwable PFDs; distress flares with expired certification; suitable first aid kit; 80 lb. Danforth anchors with chain and line rode that appears good. Navigational and anchor lights appear satisfactory but the steaming light is inoperative. Other safety equipment includes an 8-person Avon life raft and a ship’s bell.

Summary: Satisfactory

DOCKING

The vessel was inspected at its normal slip location. Line condition and arrangement appears satisfactory – good. Boarding hazards appear insignificant. All entry points were found locked. Other security consists of marina personnel.

Summary: Excellent

ELECTRONICS, TENDER(S), ACCESSORIES

Accessories include: Fiberglass swim platform, boarding ladder, enclosed aft deck, aft deck table and chairs, video monitor with three cameras, flybridge bimini top, radar arch, venturi windscreen, flybridge engine instruments include two tachometers, two oil pressure, two drive oil, two water temperature and two volts, Signet knotmeter, Danforth Constellation compass, Datamarine Depth – Corinthian Series S200DL, Simrad Robertson AP22 autopilot, rudder angle indicator, Wood Freeman 500 autopilot, two pedestal helm chairs, intercom, Triton VHF, portable BBQ, flybridge refrigerator, flybridge dinette, tender davit with electric winch, Boston Whaler with HIN BWC413177J? equipped with a 15-hp Johnson outboard engine model J15EEUC and serial number G04231329, tender chocks, two saloon sofas, coffee table, Sharp TV, Goldstar microwave oven, Panasonic DVD-LV55 portable DVD player, AIWA stereo, Pioneer CT-W302R double cassette deck, Pioneer PD-M423 CD player, Pioneer VSX-Y0Z AV receiver, Whirlpool trash compactor, GE refrigerator, Modern Maid 4-burner electric range, Modern Maid dishwasher, various kitchen appliances, Instant water heater, garbage disposal, four Cruis-Air air-conditioners, six shore power inlets, two water pressure inlets, foredeck sun pad and bench, Galley Maid electric windlass, transom and foredeck spigots, chocks, cleats, folding side boarding ladder, two TV/telephone inlets, foredeck hatch, deck wash down fitting, six AC source selector switches, six AC ammeters, three AC voltmeters, three windshield wipers, Simrad RA41 bottom scope, Simrad CP40 chart plotter, second video monitor, Datamarine 2200 Navigator Knotlog, Air Temp thermometer, VDO wind direction and speed instruments, inclinometer, Sea-Temp instrument, Datamarine 2650 Kodiak fathometer, remote spotlight, Simrad Robertson AP20 autopilot, Ritchie compass, rudder angle indicator, Modar Triton 55/75 VHF, Raytheon Ray 350 loud hailer, Stephens SEA 116 SSB, lower helm engine instruments include two tachometers, two oil pressure, two drive oil, two water temperature and two volts, push/pull cable engine controls with dual levers, Boston ship’s clock and barometer, five electrical converters below lower helm, hydraulic steering with flybridge and lower helms, 32-volt DC voltmeter, fiberglass tank aft, lead ballast aft, Toshiba TV, Village Marine water maker, vanity desk, electric head, shower enclosure with tub, second electric head, second shower enclosure, fiberglass tank under inboard berth in port cabin, split engine rooms, two Galley Maid electric waste pumps, hour meters – starboard engine 1759 and 959, AC generator 1458 and 2329, Racor fuel/water separator filters, engine room lights, drive oil psi. gauges in engine rooms, fuel tank(s) in passageway bilge (inaccessible), model MM20 Capitol Gear transmissions, Glendinning engine synchronizer, trim tabs, two water pressure pumps with accumulator tank, port engine hour meter 1633 and 962, standby AC generator ammeter, compressed air collector, electrical sub panels, third electric head, three guest cabins, dinette, master stateroom aft, fourth electric head and third shower stall, electro-guard corrosion prevention device, dock steps

 

SUMMARY

The vessel is a fiberglass flybridge motor yacht equipped with two diesel inboard engines. The purchase and ownership history was not obtained. No disclosure statement was obtained regarding any known problems with the vessel, any previous claims or significant events such as submersions, collisions, fires etc… The vessel was visually inspected only while afloat in its slip. A sea trial was not taken; the engines were not test operated and the vessel was not hauled for survey. The survey included only a very limited testing of the vessel’s systems and components, for the purposes of value and condition it is assumed that most systems function normally. Overall, the vessel appears to be in satisfactory condition and suitable for its intended purpose as a coastal cruising motor yacht.

Overall Summary: Satisfactory

VALUES

ACTUAL CASH VALUE	NEW REPLACEMENT VALUE	INVESTMENT
$275,000	$1,500,000	N/A

The actual cash value is the value that our research approximates the selling price of this vessel should be, at the time and place of our inspection. The actual cash value is best determined by a thorough market search to determine what vessels are available on the market, followed by negotiations between the interested parties. Consideration is given to vessel’s condition, geographic location, published listings and guides, comparable sales and listings, and market conditions. The new replacement value is the cost of this or a similar, new vessel, comparably equipped. The investment is the reported investment including purchase price and significant upgrades. No values include maintenance costs, storage or tax.

C & V Form Key: All systems are rated based upon their appearance, ratings include: Not examined, Not applicable, Faulty, Marginal, Satisfactory, Good, Excellent.

RECOMMENDATIONS

1. Properly secure the hand rail for the transom boarding ladder.
2. There is corrosion visible on the faceplates of the electrical outlets on the aft deck, thoroughly inspect these components, service or replace components as necessary, eliminate any leaks and assure these outlets are protected with G.F.C.I. mechanisms.
3. Service to eliminate the air bubble in the flybridge compass.
4. Service or replace the flybridge VHF which exhibits “no display”.
5. Certify the life raft per the manufacturer’s recommendations and properly secure the life raft.
6. The anchor/all around light is taped over; replace the lens if/as necessary to assure compliance with federal regulations regarding visibility.
7. Service and prove the masthead/steaming light properly functional. Check and prove the stern and anchor lights properly functional, service if necessary.
8. Clean the fuel filter bowls and fuel as necessary as the fuel filter bowl exhibits “cloudy debris”.
9. There are absorbent rags aft and inboard of both engines that are wet with fuel, determine the source of the fuel, service to eliminate any leaks and remove/replace the absorbent rags to allow detection of any future leaks.
10. The port engine’s exhaust system is leaking outboard and aft of the engine. Service to eliminate the leaks, clean stains below the exhaust system to allow detection of any future leaks.
11. There is soot on the port engine’s outboard turbo “blanket”, service to eliminate any exhaust leak.
12. Refill the steering reservoir to its proper pressure; service the system to eliminate any leaks.
13. Certify the fixed and portable fire extinguishers per N.F.P.A. recommendations.
14. Provide U.S.C.G. required, approved and current distress signal flares.

NOTES

1. Repair the broken handle to the sliding door between the saloon and the aft deck.
2. There are crystalline deposits on many seawater components including through hulls, sea strainers and the engines’ seawater pumps. Remove the crystalline deposits, clean as necessary to allow careful inspection and service or replace component as needed.
3. A few hoses exhibit age related damage including hoses to starboard in the master stateroom. Inspect and replace as necessary. Many hoses have apparently been replaced.
4. At the time of this survey, the shower sump pump’s float switch was inoperative and the sump was full of water. Service and prove the automatic function of the sump pump.
5. The vessel is equipped with fiberglass fuel tanks; there are recent reports of damage to the interior of similar tanks apparently due to exposure to ethanol. The existence of any damage to the interior of these tanks is beyond the scope of this survey.
6. Several through hull valves are seized, free-up and prove all through hull valves properly functional.
7. There are unused, exposed wires on the starboard forward engine room hull side; there is a blower in this location on the port side. Return the missing blower and install it.
8. There appears to be a float switch for a high water alarm in the bilge forward of the starboard engine, when lifted nothing was heard. I strongly encourage the repair or installation of a high water alarm.
9. The generators were not seen, there is an area below the port forward cabin and forward dinette that may house the generators; it was not accessed.

 

This survey sets forth the condition of the vessel and components, as specifically stated only, at the time of inspection and represents the surveyor’s honest and unbiased opinion. The submitting of this report should not be construed as a warranty or guaranty of the condition of the vessel, nor does it create any liability on the part of Christian & Company or the individual surveyor. No part of the vessel was disassembled or removed and no assumptions should be made as to the condition of concealed components. Specifics were obtained from sources available at the time of inspection and are believed correct, but are not guaranteed to be accurate. This inspection was performed for the expressed purpose of obtaining insurance, and should provide the information necessary for underwriting purposes, if any additional information is required, please contact the undersigned. This survey report is not intended for use as a “buyer’s survey”.

Christian & Company, Marine Surveyors, Inc.

 

________________________________ __________________
By: Mr. Kells Christian, Surveyor Date