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PROPULSION MACHINERY

MANUFACTURER: Mercruiser MODEL: 5.0 MPI

ENGINE FAMILY: GM DISPLACEMENT: 5.0 Litre

YEAR: Original Equipment SERIAL #: OM672654-pt OM672669-stb

HP: 260 Ea. CYLINDERS: V-6

HOURS: 240-pt, 240-stb LAST OVERHAUL: None Reported

CRUISING SPEED: 25 Knots - Estimated TOP SPEED: 40 Knots - Estimated

FUEL: Gas FUEL DELIVERY: MPI

FLAME ARRESTOR: USCG Approved CONDITION: Needs Routine Cleaning

VENTILATION: Forced & Natural BLOWER DUCTS: Stb Duct Kinked/Restricted

ENGINE OIL: Appears Fresh OIL LEVEL: Proper

HOSES: Good Serviceable BELTS: Properly Adjusted

COOLING: Raw Water Circulation COOLANT LEVEL: N/A

EXHAUST: Wet / Thru-Outdrive CONNECTIONS: Double Clamped

ENGINE MOUNTS: Metal / Rubber CONDITION: Properly Secured

ENGINE ROOM: Moderate Access BILGE: Dry

STEERING: Manual W/Hydraulic Assist STATIONS: 1

OIL PLACARD: Not Observed LOCATION: N/A

STERNDRIVES: Mercruiser MODEL: Alpha One Gen. II

SERIAL #: OM476321-pt OM475493-stb LUBE: Clean / Serviceable

LEVEL: Proper As Viewed In Monit.

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UNDERWATER MACHINERY

PROPELLER: Mercury Marine MODEL: Mirage Plus

Size: 17” Pitch / 3-Blade MATERIAL: Stainless

CONDITION: Good / Serviceable MANUF. DATE: Not Labeled

PROPSHAFT: Stainless Alloy SIZE: OEM

RUDDERS: N/A STRUT BEARING: N/A

ANODES: Yes CONDITION: < 10% Wastage

LOCATION: Sterndrives

DEWATERING SYSTEMS

BILGE PUMPS: 2 TYPE: 12v Automatic

GPH: 500 & 1,250 WATER ALARM: Not Observed

SHOWER PUMP: 1 TYPE: 12v Automatic

GPH: 750 SHOWER SUMP: Enclosed Plastic

THROUGH-HULL FITTINGS

SEACOCKS: Bronze TYPE: Ball

CONDITION: Operable BONDED: Yes

LOCAL: Aft Bilge STRAINER: Yes

TYPE: Bronze & Plastic CONDITION: Clean / Serviceable

GROUND TACKLE

ANCHOR: Simpson Lawrence MODEL: Fast Set

TYPE: Galvanized Plow RODE: Braided Nylon

WINDLASS: N/A MODEL: N/A

SERIAL #: N/A FOOT CONTROL: N/A

ANCHOR ROLLER: Yes TYPE: Single Roller

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TANKAGE

FUEL TANKS: 1 FUEL: Gas

MATERIAL: 5052 Aluminum CAPACITY: 100g

LOCATION: Forward Of Engine VISIBLE LEAKS: None Detected

FILL LINE: A-2 Rubber FEED LINE: A-1 Rubber

VENT LINE: A-1 Rubber CONDITION: Serviceable Where Visible

FLAME ARRESTOR Yes TYPE: Integral Of Fill

FILL FITTING: Plated Steel FILL LOCAL: Starboard Deck, Aft

BONDED: Yes

WATER TANKS: 1 MATERIAL: Plastic

CAPACITY: 29g LOCATION: Engine Room / Port

H2O HEATER: Seaward MODEL: F600

CAPACITY: 6g SERIAL #: 903528

HOLDING TANKS: 1 MATERIAL: Plastic

CAPACITY: 28g LOCAL: Engine Room / Stb

HEAD: Jabsco MODEL: Manual

LEVEL MONITOR: No O.B. DISCHARGE: No

CONDITION: N/A LOCAL: N/A

COOKING FUEL: 110v TANKS: N/A

CAPACITY: N/A MATERIAL: N/A

LOCATION: N/A REGULATOR: N/A

PRESSURE GUAGE: N/A SHUTOFF VALVE: N/A

WARNING LABEL: N/A

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FIRE EXTINGUISHING SYSTEMS

TYPE: BC-I QUANTITY: 1

SIZE: I LOCAL: Cockpit

EXPIRATION DATE: Not Tagged CONDITION: Full

FIXED TYPE: Fireboy MODEL: CG2-250

TYPE: FE-241 SERIAL #: Not Visible

EXPIRATION DATE: Expired LOCAL: Engine Compartment

SAFETY EQUIPEMENT

PFDs: 12 SIZE & TYPE: Adult II

THROWABLE PFDs: 1 TYPE: IV Cushion

AUDIBLE SIGNALS: 2 Horns MODEL: 12v & Portable Air

VISUAL SIGNALS: Orion EXPIRATION: Expired

Co2 DETECTORS: Fireboy Xintex MODEL: CMD-3M

GAS FUME SNIFFER: No MODEL: N/A

NAVIGATION LIGHTS: Yes USCG APPROVED: Yes

SEARCHLIGHT: N/A MODEL: N/A

COMPASS: Ritchie MODEL: Flush-Mount

LOCATION: Helm SERIAL #: N/A

DINGHY

MAKE: N/A MODEL: N/A

HIN: N/A STATE #: N/A

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ELECTRICAL SYSTEMS

DC Systems

BATTERIES: 3 TYPE: Cranking & Deep Cycle

# BATTERIES: 3 STORAGE: Tray

PROPERLY SECURED: Yes SWITCHES: 2

VENTILATION: Natural TYPE WIRES: Stranded Copper

SECURED: Yes - Every 18” CONNECTORS: Crimp-On

CONVERTER: Professional Mariner MODEL: Protech 1240 Plus

AMPS: 40 SERIAL #: B000870

DATE CODE: 40

AC Systems

TYPE WIRES: Stranded Copper SECURED: Yes

SHORE POWER: 120v/30a LINES: 1

LOCATION: Stern Locker POWER CABLE: 120v/30a

CABLE ADAPTERS: No BONDING: Yes

GENI/SHORE POWER SELECTER SWITCH: N/A POLARITY

INDICATOR: Yes

GENERATOR

MAKE: N/A MODEL: N/A

YEAR: N/A GEN. SERIAL #: N/A

KW: N/A ENG. SERIAL #: N/A

HOURS: N/A CYLINDERS: N/A

FUEL: N/A COOLING: N/A

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GALLEY

STOVE: Kenyon MODEL: Single-Burner SN: Not Visible

MICROWAVE: Samsung MODEL: Compact SN: Not Visible

REFRIGERATOR: Isotherm MODEL: Tag Not Legible SN: Not Legible

SINK: Stainless Steel MODEL: Single Basin

TRASH PLACARD: Yes LOCAL: Galley

ELECTRONICS

VHF: Uniden MODEL: Polaris SN: Not Visible

DEPTH: Faria MODEL: 3” LCD SN: Not Visible

GPS: Garmin MODEL: GPSmap 541S SN: 1J90143447

RADAR: N/A MODEL: N/A SN: N/A

ENTERTAINMENT CENTER

STEREO: JBL MODEL: MR-15W SN: Not Visible

CD: N/A MODEL: N/A SN: N/A

TV: N/A MODEL: N/A SN: N/A

DVD: N/A MODEL: N/A SN: N/A

HEATING & AIR CONDITIONING

SALON: Marine Air Systems MODEL: VCD7K/1-LH-HRZBLWR SN: H03-VC00398

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DECK RAILS & ATTACHMENTS

BOW RAILS: Stainless Tube CONDITION: Properly Secured

RUB RAILS: PVC W/Stainless Cap CONDITION: Small Amounts Normal Wear

CLEATS: Plated Steel CONDITION: Properly Secured

CANVAS & COVERS

BIMINI TOP: Canvas (curtains not observed) CONDITION: Good / Serviceable

COCKPIT: Canvas CONDITION: Good / Serviceable

BOW CUSHION: N/A CONDITION: N/A

ADDITIONAL EQUIPEMENT & ACCESSORIES

DECK GEAR:

Tilt wheel Wheel cover Cockpit sink Galvanic isolatorStereo remote at helm Lenco hydraulic trim tabs AquaTik hot/cold shower wand at stern Ocean Air retractable hatch screen/shade Windline telescoping 3-step swim platform ladder

AMMENITIES: Snap-in cockpit and cabin carpet

ENGINE:Hour meters Remote oil filters Remote gearlube monitors Hot water heater exchange system

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VALUE

CURRENT FAIR MARKET VALUE OF VESSEL: $39,000.00

ESTIMATED REPLACEMENT COST OF VESSEL: $184,500.00 Per BUC ValuPro

COMPARISON CALCULATIONS:METHOD A: 2015 BUCVALU PROFESSIONAL PRICE GUIDE LOW: $40,500.00 HIGH: $45,000.00 AVG. RETAIL: $42,750.00

METHOD B: ABOS 2015 MARINE BLUE BOOK, SUMMER ED. AVG. RETAIL: $47,300.00

METHOD C: 2015 NADA ONLINE APPRAISAL GUIDE LOW RETAIL: $34,610.00 AVG. RETAIL: $38,910.00

METHOD D: BROKERS & PRIVATE SELLER ASKING PRICE LISTINGS YEAR SIZE BUILDER MODEL ENGINE ASK PRICE LOCAL TRL2004 27’ Chaparral 270 Sig. T5.0MPI $32,000.00 FL N 2004 27’ Chaparral 270 Sig. T4.3OS I $39,900.00 RI N 2004 27’ Chaparral 270 Sig. T4.3OSI $39,900.00 CT N 2004 27’ Chaparral 270 Sig. T4.3MPI $44,995.00 IL N

2005 27’ Chaparral 270 Sig. T5.0MPI $36,900.00 NJ N 2005 27’ Chaparral 270 Sig. T4.3GSI $39,900.00 NJ N 2005 27’ Chaparral 270 Sig. T5.0MPI $46,900.00 CT N 2005 27’ Chaparral 270 Sig. T5.0MPI $49,900.00 CT N

METHOD E: SOLDBOATS.COM (1/1/14 – 10/19/15, 2004 - 2005) YEAR SIZE BUILDER MODEL ASK $ SELL $ ENG SOLD LOCAL TRL2004 27’ Chaparral 270 Sig $39,900 $29,000 4.3GXI 7/14 SC N 2004 27’ Chaparral 270 Sig $42,900 $40,000 T Gas 6/14 MI N

2005 27’ Chaparral 270 Sig $39,950 $32,500 4.3MPI 3/15 NC N 2005 27’ Chaparral 270 Sig $45,000 $38,500 4.3GXI 12/14 FL N 2005 27’ Chaparral 270 Sig $47,900 $45,000 4.3MPI 10/15 MI N 2005 27’ Chaparral 270 Sig $48,900 $45,500 4.3GXI 9/15 NY N 2005 27’ Chaparral 270 Sig $54,900 $52,500 4.3MPI 7/15 MI N

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NARRATIVE

"Just Treadin II”

The estimated current market value of the vessel was established through a review of published listings for similar boats and reported selling prices published in one or more national listing services. Once these figures were established, the condition and equipage of the surveyed yacht were considered, and a final figure was established. Additional testing would be required to confirm the condition of the hull and engine.

ABYC (American Boat and Yacht Council – Standards and Recommended Practices for Small Craft), 33CFR (Code of Federal Regulations, #33 & 46) and NFPA 302 (National Fire Protection Association, Publication 302) may be referenced in this narrative. The purpose of the reference is to indicate the source of published recommendations and requirements, which can be used to support recommendations in the survey.

The surveyed vessel is a 29’ (LOA) cruiser powered by twin gas sterndrive engines. The overall appearance of the vessel was classified as average, per her age. Any exceptions are noted below.

We began our survey by sounding the hull undersides and transom with a small steel hammer, testing for moisture content with a Tramex Skipper Plus Moisture Meter and by performing a visual inspection. The antifouling paint was reaching the end of its useful life span. No signs of collision or grounding damage were observed. Percussion testing of the undersides and transom didn't reveal any indicators for voids, blisters or delamination. Moisture readings gained from the noted surfaces registered in the high-end of the Level 3 ranges. Later in our survey we obtained similar readings from the above-the-waterline surfaces of each hullside. Consistent readings in the high-end of the Level 3 range is a probable indicator of false positive readings, most likely from flame-retardant gelcoat applied to the hull.

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The Tramex Skipper Plus Moisture Meter is broken out into three scales: Level 1 (0-1.1% moisture), Level 2 (1.3% - 2.0% moisture) and Level 3 (2.2% - 2.7% moisture). Higher than normal readings might indicate potential for blistering or delamination, or the presence of moisture in the laminate or core (if core material exists).

Attached to the transom were twin Mercruiser Alpha One sterndrives and transom assemblies. The drives were found to be free of impact and grounding damage. A gearlube stain was noted on the pavement, directly below the trailing edge of the gearcase housing skag. The propellers were found to be in a good serviceable condition.

Twin Sterndrives

We moved the sterndrive from side-to-side, noting no unusual “play” in the steering system. An inspection of the rubber exhaust bellows showed both to be cracked. Moderate amounts of dry rot were noted while inspecting the shift and u-joint bellows.

Our next inspection was of the hullsides. A few surface scratches and other cosmetic blemishes were noted while inspecting the hullsides. Percussion testing of the noted surfaces didn't reveal any indicators for voids or delamination. All moisture readings registered in the high-end of the Level 3 range (false positive readings).

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Starboard And Port Hullsides

An inspection of the swim platform and attaching hardware showed one of the nuts for a mounting bolt (port) to be missing.

The stern locker door was missing its strut.

After boarding the vessel, we inspected the deck and cabin housing by using the same methods as used on the undersides. A few chips and gouges were noted in the gelcoated surfaces alongside the anchor roller. Level 1 moisture readings were gained from the noted surfaces. Percussion testing didn't reveal any indicators for voids or delamination.

An inspection of the cockpit showed the helm position to be equipped with a GPS navigator, VHF radio, depth meter and standard engine monitoring gauges.

Cockpit

The cockpit seat skins presented well to our visual inspections.

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Belowdeck we noted a traditional mid cabin layout.

The dinette seat cushions presented in a well-maintained condition. The vee-berth cushion wasn't onboard at the time of survey.

Cabin Spaces

Small to moderate amounts of wear and soiling were noted while inspecting the seat cushions.

We opened every door, cabinet, drawer and access panel that could be opened without the use of tools, finding the accessible hull frames and liner to be free any visible damage or deterioration.

A search for signs of past water leakage from overhead sources yielded none.

Our next inspection was of the engine compartment and machinery. The exterior surfaces of the engines and exhaust systems showed no indicators for a prior overheat occurrence. All belts and hoses were found to be in a good serviceable condition. The engine mounts were inspected and found to be properly secured. All fluid levels were checked and all were at or within recommended ranges.

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Mercruiser Engine’s

The starboard blower duct was partially kinked.

Overall, we found the surveyed vessel to present well and to be adequately-equipped for her intended service of cruising.

RECOMMENDATIONS:

1. Have a qualified technician diagnose the cause for the apparent gearlube leak around the starboard propshaft and repair as found necessary.

2. Both sets of bellows showed moderate amounts of dry and therefore, should be replaced with new.

3. Route and support the starboard blower duct so as to prevent kinking.

4. Clean each engine's flame arrestor.

5. Replace any missing swim platform mounting hardware.

6. Equip the stern locker door with a lifting strut.

7. The bottom paint should be refreshed prior to the next launch.

7. Equip the vessel with up-to-date visual distress signals (State & Federal Regulations).

8. The USCG requires vessels 26 feet in length and over to display an Oil Discharge Placard. This placard must state that the discharge of oil or oily waste into or upon the navigable waters of the United States or contiguous zones is prohibited. This placard must list the conditions and fines that are liable to be applied. These placards are available at most marine stores. A proper placard should be obtained and posted in accordance with 33CFR Regulations.

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This vessel was surveyed visually and tested with non-destructive type equipment to determine its condition. Survey was conducted without removal of any parts, including panels, coverings, fittings, partitions, instruments and miscellaneous materials in the bilges and lockers, or any other fixed or semi-fixed items. Locked and inaccessible compartments would also prevent inspection. Further, no determination of stability characteristics, seaworthiness or inherent structural integrity has been made and no opinion is expressed with respect thereto.

This survey report is presented and was conducted without prejudice to the rights of any party, policy of insurance or provisions of law concerned. Certified Marine Surveyors hereby certifies that they have no present or contemplated future interests in the subject of the survey or any other interests which might prevent a fair and unbiased finding. This report is the best expression of the surveyor’s findings and opinions and the surveyor reserves the right to amend or extend this report upon receipt of additional information. This report is not to be considered an inventory or a warranty either specified or implied.

Certified Marine Surveyors, LLC

Rick Lenschow

Rick W. Lenschow, SAMS-AMS Attending Marine Surveyor

Dated: October 27, 2015

Enclosures: Digital Photos