TIPTON MARINE SURVEYS

1990 42' Gibson Houseboat

"S.S. Minnow"

INDEPENDENT MARINE SURVEYOR

530 Donna Dr. Lenoir City, TN 37771 (865) 816-3690 Cell (865) 406-3029

Report of Marine Survey

Of The Vessel

"S.S. Minnow"
1990 42' Gibson Houseboat

Conducted by Rodney 'Jim' Tipton MARINE SURVEYOR

PREPARED EXCLUSIVELY FOR: John Q. Client July 06, 2012

INDEPENDENT MARINE SURVEYOR

TABLE OF CONTENTS
SECTION I. II. III. PAGE NO.

.. INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . GENERAL INFORMATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 SYSTEMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . HULL, DECK AND SUPERSTRUCTURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 PROPULSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5. . FUEL SYSTEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6. . ELECTRICAL SYSTEM(S) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6. FRESH WATER SYSTEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7. SANITATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7. . AIR CONDITIONING AND HEAT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 . STEERING SYSTEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 .. LIQUEFIED PETROLEUM GAS SYSTEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 GROUND TACKLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 .. ELECTRONICS AND NAVIGATION EQUIPMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 THRU-HULLS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9. . SAFETY EQUIPMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 ...

IV. V. VI.

FINDINGS AND RECOMMENDATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 . SUMMARY AND VALUATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 ... PHOTOGRAPHS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

TOC

I. INTRODUCTION
SCOPE OF SURVEY
Acting at the request of John Q. Client, the attending surveyor conducted an in the water Re-Insurance Marine Survey of the "S.S. Minnow" a 1990 42' Gibson Houseboat, on July 2nd at 11:00 A.M. through 2:30 P.M. where she was docked at Lakeshore Marina, 2285 Highway 321, Hampton, TN 37658. The weather was warm with temperatures in the high eighties. At the time of survey the "S.S. Minnow" was having window tinting installed so interior pictures will be somewhat cluttered. The vessel's registration was available and viewed. The Hull Identification Number (HIN) GBN42907E090 was able to be verified on the transom. Neither a sea trial nor an out of the water inspection of underwater machinery and the exterior of the hulls wetted surface area was performed. The owner of the vessel was not present at time of the survey. The reason for the survey, was to ascertain the physical condition and value of the vessel for John Q. Client for insurance renewal. AC and DC power was used to check the operation of the electrical systems specified in this report only. Electronic equipment was checked for ''power up'' only. No reference or information should be construed to indicate evaluation of the internal condition of the engines or the propulsion system's operating capacity. This vessel was surveyed without removal of any parts, including fittings, tacked carpet, screwed or nailed boards, anchors and chain, fixed partitions, instruments, clothing, spare parts and miscellaneous materials in the bilges and lockers, or other fixed or semi-fixed items. Locked compartments or otherwise inaccessible areas would also preclude inspection. The owner is advised to open up all such areas for further inspection. Further, no determination of stability characteristics or inherent structural integrity has been made and no opinion is expressed with respect thereto. This survey report represents the condition of the vessel on the above dates, and is not to be considered an inventory or a warranty either specified or implied. CONDUCT OF SURVEY: THE MANDATORY STANDARDS PROMULGATED BY THE UNITED STATES COAST GUARD (USCG), UNDER THE AUTHORITY OF TITLE 46 UNITED STATES CODE (USC); TITLE 33 AND TITLE 46, CODE OF FEDERAL REGULATIONS (CFR), AND THE VOLUNTARY STANDARDS AND RECOMMENDED PRACTICES DEVELOPED BY THE AMERICAN BOAT AND YACHT COUNCIL (ABYC) AND THE NATIONAL FIRE PROTECTION ASSOCIATION (NFPA) HAVE BEEN USED AS GUIDELINES IN THE CONDUCT OF THIS SURVEY. Any moisture readings taken and referenced within the body of the report, were taken with a Ryobi Moisture meter. The use of the word ''appears'' is intended to indicate that a close or complete inspection was not possible or it was not deemed appropriate at the time of this survey. The deficiencies reported herein reflect the conditions observed at the time the survey was conducted. Use of asterisks * in the body of the report will indicate that a finding will be listed in the Findings and Recommendations section pertaining to the asterisked item, following the body of the report. Where installation of double hose clamps are recommended throughout this report, it is understood that double clamps should only be installed where there is sufficient length of tailpiece / pipe available and hose length overlap to allow correct installation. No clamp shall be installed closer than 1/4" to the end of the hose and must fully engage the tailpiece / pipe or fitting. Any clamp extending over the end may cause the hose to be cut internally or force the hose off the fitting and is an incorrect installation.

VESSEL DESCRIPTION
The "S.S. Minnow" is a 1990 42' Gibson houseboat powered by a Volvo-Penta 250 engine. She has a fiberglass modified Vee hull with a white gelcoat and superstructure with blue trim. Outside amenities for the vessel include a shaded bench seat area forward of the superstructure. A sun deck atop the superstructure and at the stern where there is an aluminum swim platform mounted to the transom. The "S.S. Minnow"'s galley, head and entertainment area are located amidships in a bi-level arrangement. She normally sleeps up to five people, with two in the after portion of the main salon and three more in the cuddy cabin towards the bow. On the interior she is appointed with walnut paneling and light grey pile carpeting throughout.

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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II. GENERAL INFORMATION

GENERAL INFORMATION
SURVEY PREPARED FOR: . . . . . . . . . . . . . . . . . . . . . John Q. Client

DATE: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NAME OF VESSEL: . . . . . . . . . . . . . . . . . . . . . . . . . . TYPE OF SURVEY: . . . . . . . . . . . . . . . . . . . . . . . . . . . OVERALL VESSEL RATING: . . . . . . . . . . . . . . . . . . . . ESTIMATED MARKET VALUE: ................... ESTIMATED REPLACEMENT COST: . . . . . . . . . . . . . . BUILDER: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . YEAR BUILT: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . HULL IDENTIFICATION NUMBER (HIN): ............. STATE REGISTRATION NUMBER:. . . . . . . . . . . . . . . . CLASSIFICATION: . . . . . . . . . . . . . . . . . . . . . . . . . . . . OWNER'S NAME: . . . . . . . . . . . . . . . . . . . . . . . . . . . . OWNER'S ADDRESS: . . . . . . . . . . . . . . . . . . . . . . . . . PLACE OF SURVEY: . . . . . . . . . . . . . . . . . . . . . . . . . . DATE/TIME OF SURVEY: . . . . . . . . . . . . . . . . . . . . . . HULL MATERIAL: . . . . . . . . . . . . . . . . . . . . . . . . . . . . HULL TYPE: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LENGTH OVER ALL (L.O.A).: . . . . . . . . . . . . . . . . . . . . BEAM: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DRAFT: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DISPLACEMENT (WEIGHT):. . . . . . . . . . . . . . . . . . . . . PROPULSION SYSTEM: . . . . . . . . . . . . . . . . . . . . . . . FUEL TYPE: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FUEL CAPACITY: . . . . . . . . . . . . . . . . . . . . . . . . . . . . AC POWER: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DC POWER: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FRESH WATER CAPACITY: . . . . . . . . . . . . . . . . . . . . .

July 2, 2012 S.S. Minnow CONDITION AND VALUE AVERAGE $34,300 per BUC $154,000 per BUC Gibson Boats, Portland, TN 1990 GBN1234E090 TN 1234 AB Recreation John Q. Client 123 Elm St, Elizabethton, TN 37643 Lakeshore Marina, 2285 Highway 321, Hampton, TN 37658 July 02, 2012 FRP (Fiber Reinforced Plastic) . Planing, Modified-V with flat bottom, hard chines, and flared bow. 42' per BUC 12' per BUC 2' 4" per BUC 14,000 lbs per BUC Single Volvo-Penta 250 GASOLINE 102 Gallons in two (2) 51 gallon tanks 120 Volt 12 Volt Estimated at 42 gallon. Unable to determine length of tank due to accessibility. Estimating tank to be 36" long by 30" wide by 9" deep (same as holding tank). 42 Gallon recreational boating on Watauga Lake, TN

HOLDING TANK: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INTENDED USE/BUYER: . . . . . . . . . . . . . . . . . . . . . . .

DEFINITION OF TERMS
The terms and words used in this report have the following meanings as used in this Report of survey: APPEARS - Indicates that a very close inspection of the particular system, component or item was not possible due to constraints imposed upon the surveyor (e.g. no power available, inability to remove panels, or

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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II. GENERAL INFORMATION

DEFINITION OF TERMS: (continued)
requirements not to conduct destructive tests). FIT FOR INTENDED USE - Suitable for use intended by Survey Purchaser (present or prospective owner). SERVICEABLE or ADEQUATE - Sufficient for a specific requirement. POWERS UP - Power was applied only to determine if the system or component would energize. It does not validate the operation of any system or component unless specifically indicated. EXCELLENT CONDITION - New or like new. GOOD CONDITION - Nearly new, with only minor cosmetic or structural discrepancies noted. FAIR CONDITION - Denotes that the system, component or item is functional as is with minor repairs. (MONITOR OFTEN) POOR CONDITION - Unusable as is. Requires repairs or replacement of system, component or item to be considered functional. USE OF * - The use of * in the body of this report will indicate that a finding will be listed in the ''Findings and Recommendations'' section pertaining to the * item.

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
HULL, DECK AND SUPERSTRUCTURE
HULL CONSTRUCTION
HULL: FRP (fiber reinforced plastic) exterior laminate with an unknown core material. The hull appears to be in good condition

with no visible sign of blisters. The topsides are unblemished and have a good sheen when viewed obliquely. She has a navy blue boot stripe, with another two stripes running down both sides of the boat just below the rub rail. The upper stripes are weathered and chipped in numerous places.
STEM: Curved with moderate flair.

TRANSOM:

[B1] Reinforced, FRP with aluminum bolt on swim platform and swim ladder. Percussion soundings were normal, moisture readings taken inside the transom showed moist areas on both sides of the transom below the blowers. The gel coat on the transom has cracked in several places on the port side. Where the plywood has been exposed there is evidence of rot. The owner states that he has already been in contact with a company to arrange for the repair.

Transom Damage

Wood rot

BULKHEADS/STRINGERS:Two (2) bulkheads and FRP encased wood stringers provide both lateral and longitudinal hull

reinforcement.
BILGE/LIMBER HOLES: Bilges are clean and limber holes are of adequate size and clear. DECKS: Both the main deck, the upper sun deck and the roof have new gelcoat. Applied within the last few weeks the coverage

is excellent and appears to be properly applied.

HULL-TO-DECK JOINT: Visible from the bow hold, the joint was of the deck overlap type with 2" x 4" backing boards.

SUPERSTRUCTURE
DESCRIPTION: The superstructure of the "S.S. Minnow" is fiberglass with white gelcoat in very good condition. Sliding windows

and doors occupy all sides of the vessel. The windows are in process of being tinted.
WINDOWS/PORTS/DOORS: Entry into the superstructure is accomplished in two ways; a sliding door located to starboard of the

helm or via a sliding glass door located at the aft end of the master stateroom. Two sliding windows line the starboard side, and three line the port side. Another bank of sliding windows comprises the windshield assembly.
FITTINGS AND HARDWARE: All fittings and hardware appeared to be in good condition. CANVAS AND SUPPORT STRUCTURE: Canvas lines the upper and lower rails on board the "S.S. Minnow". The canvas is secured

to the railings with black nylon ties and is in very good condition.
SUPERSTRUCTURE HOUSE TO DECK JOINT: The house to deck joint is covered by a 1" x 1/16" aluminum strip with screws placed

approximately every six (6) inches. Appears to be in good condition.

DECK FITTINGS
STANCHIONS/LIFELINES: A railing system composed of 1 1/4" x 1 7/8" aluminum rails and 1" square stanchions encloses the

"S.S. Minnow"'s upper and lower decks. There are three boarding gates, one each to port and starboard forward of the superstructure and a third located at the stern. All components in good condition.

HATCHES: [C1] Two hatches are present on the vessel. The first hatch located on the fore deck is approximately 2' x 3' and

provides access to the forward hold. The mounting hardware for the starboard hinge is loose. The second is located at the stern and is approximately 3' x 8' and provides access to the engines. This hatch is very heavy but operated smoothly.

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
HULL, DECK AND SUPERSTRUCTURE
DECK FITTINGS(continued)
CHOCKS AND CLEATS: Six (6) eight inch cleats were sighted divided equally to port and starboard.

ADDITIONAL EQUIPMENT AND ACCESSORIES

FENDERS: Eight fenders, five each 8"x 24" and three each 6" x 20" placed around the vessel. all in good condition. DOCK LINES: Dock lines appear adequate and serviceable.

INTERIOR
DESCRIPTION: The interior of the "S.S. Minnow" is in very good condition with like new carpeting and woodwork that is in good

condition. At the time of survey, she is in the process of having window tinting installed. No evidence of water intrusion was noted. Upholstery materials and curtains were tasteful and in very good condition. The owners stated that they do not use the LPG system and no LPG tanks were seen aboard during the survey.
ACCOMMODATIONS: Two sleeping areas are present aboard the vessel. The primary is the Master Stateroom located aft of the

head and galley. I has a full size bed and six drawer dresser along with a shelf unit for clothing and equipment storage. The other sleeping area is a cubby berth located below the main salon and accessed via a companion way to starboard of the helm. The cubby provides accommodations for another two to three people in three twin sized sleeping pads.
HEADS: A head with sink, shower and Raretan Crown head is located to port athwartships from the galley. VENTILATION: Ventilations is provided through sliding windows and doors on all sides of the superstruture. AIR CONDITIONING: A roof mounted air conditioning unit is located in the main salon and is producing 46 degree air at the time

of survey.

GALLEY
LOCATION: Starboard side of main cabin. SINKS: Double stainless steel rectangle sink (23" X 15 1/2" X 4"). REFRIGERATION:Sears Kenmore

Model # 2539305084 Serial # BA11202056

STOVE/OVEN: Galley Maid LPG. Not tested no propane aboard. MICROWAVE: Sharp Carousel. Powers up.

PROPULSION
MAIN ENGINES
TYPE/MANUFACTURER/LOCATION: Gasoline, Volvo-Penta 250 AVGP SERIAL NUMBER(S): Model # 250AV GP

Serial Number 2200109899 868262

INDICATED HOURS: Not known. THROTTLE CONTROLS: Morse mechanical lever/cable type. ENGINE MOUNTS AND BED: Hull stringers and transom. DRIP PANS: None Sighted. LUBRICATION: Oil level indication is normal. Engine mounted spin on/off canister type filter. VENTILATION: Power blowers port and Starboard with flexible pick-up tubing . Natural, flow ventilation provided by hull vents.

Appears adequate.

EXHAUST SYSTEM: [B2] Raw water cooled with cast iron risers and flexible connections. Hose to pipe connections are single

clamped instead of double clamped..

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
PROPULSION
MAIN ENGINES (continued)

EXHAUST SYSTEM: (continued)

Exhaust Hose
FUEL PUMP: Engine mounted. Appears serviceable. BILGE BLOWERS: 250 CFM Power blowers port and Starboard with flexible pick-up tubing. FLAME ARRESTOR: Yes, USCG approved. FUEL FILTERS: Mercury Fuel Filter # 35-802893T installed on Transom. COOLING SYSTEM: Closed fresh water reservoir with heat exchanger and raw water cooled exhausts. TRANSMISSION: Volvo Penta

Model # 868130 Serial # 1101585324

OVERALL CONDITION: Overall engine and engine compartment appeared to be in good condition and well maintained.

FUEL SYSTEM
MAIN ENGINE(S) FUEL SYSTEM
FUEL TYPE: Gasoline TANKS/CAPACITY/MATERIAL: Two (2) fifty one gallon tanks located to port and starboard in engine compartment. Secured by

steel straps insulated from aluminum tanks. Some surface corrosion showing on straps.
MANUFACTURING LABEL: The ABYC required labels were sighted on the fuel tanks. FILL PIPE LOCATION(S): Port and starboard side decks marked for GAS. FILL PIPE GROUNDED:Yes, where sighted. VENT LOCATION: Port and starboard Transom, flame screens sighted. FUEL LINES: Both supply and return are copper lines with copper alloy fittings. Flexible hose to engine connections. Appears

serviceable.

ELECTRICAL SYSTEM(S)
ELECTRICAL SYSTEM (D.C. SYSTEM)

VOLTAGE/BATTERIES: [B3] Two (2) 12 Volt batteries in parallel appear to be in good condition. Batteries are in uncovered

containers to restrict horizontal movement but not strapped down to prevent vertical movement.
PANEL/CIRCUIT PROTECTION: The main DC electrical panel is located in the engine compartment against the forward bulkhead

to the starboard side. The panel was screwed closed and was not disassembled for inspection.
TYPE CONNECTORS: Round Lugs, Captive type, where sighted. Appear serviceable. CONNECTORS/ROUTING/SUPPORT:Appeared well supported where sighted.

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
ELECTRICAL SYSTEM(S)
ELECTRICALSYSTEM (D.C. SYSTEM)(continued)
CHARGING SYSTEM: Charles Industries, Ci C-Charger system located in engine compartment on forward bulkhead. Appears

serviceable.

ELECTRICAL SYSTEM (A.C. SYSTEM)

SHORE POWER INLET/CORD:Single Marinco 30 amp shore power connection located at forward port corner of superstructure.

Both cord and inlet power connection appear to be in good condition with no sign of overheating or damage.
AC SOURCE SELECTOR SWITCH: None sighted. MAIN BREAKER: Main AC Electrical panel located in main salon on starboard side of helm. Branch breakers for major circuits

are present and appropriately labeled.

CIRCUIT LOAD MONITORS: AC voltage and amperage analog gauges at helm. CONNECTORS/ROUTING/SUPPORT:Captive lug type. Appears serviceable where sighted. OUTLETS: AC voltage outlets available throughout vessel, appear adequate and conveniently located. Tested OK for proper

polarity. GFCI (ground fault circuit interrupter) outlets sighted at galley and head. All tested OK.
POLARITY: Polarity monitor located on AC Electrical panel. Lamp tested OK. GALVANIC ISOLATOR: None Sighted. Highly recommended to reduce potential of stray current corrosion.

FRESH WATER SYSTEM

FRESH WATER SYSTEM: (PORTABLE WATER)
TANKS/MATERIAL /CAPACITY: One (1) Aluminum, estimated to be 42 gal. Located under galley sole. Fit is so tight, could not

extend tape measure down side of tank to measure length.

FILL/VENT PIPE LOCATION: Port side deck marked for water. VENT PIPE LOCATION: Port side. PUMPS/ACCUMULATOR TANK: Flojet 12 volt DC water pump located under galley sole.

Model# 4405-143 Serial # 90143978 GROCO PST-1 Accumulator located below galley sink.
HOT WATER TANK: SeaWard Products, Inc.

Model# S1200 A90 Serial # 11250 11 Gallon capacity

DOCK SIDE PRESSURE REGULATOR: None Sighted.

SANITATION
SANITATION (BLACK/GREY WATER)
M.S.D TYPE USCG SYSTEM: Certification Type: MSD U.S.C.G. Type I. and holding tanks. TYPE/MANUFACTURE: Raritan Crown NUMBER OF HEADS LOCATION:Single head located to port aft of main salon. HOSES AND CLAMPS: Double clamped where sighted and in good condition. PUMP-OUT LOCATION: Starboard side deck, fitting marked for Waste.

"Y" VALVE(S):

[A1] Yes, ''Y'' valve located in galley sole. The valve is not 'locked' in the closed position. This in violation of Federal code 33 part 159 section 7.

AIR CONDITIONING AND HEAT

AIR CONDITIONING AND HEATING SYSTEMS
TYPE/MANUFACTURE: Duo-Therm Briskair roof unit located in overhead of Main Salon. No manufacturer's plate sighted. A/C

output air temperature measured at 46 degrees.

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
AIR CONDITIONING AND HEAT
AIR CONDITIONING AND HEATING SYSTEMS(continued)
CONDENSATE DRAIN:None Sighted.

STEERING SYSTEM
STEERING SYSTEM
TYPE/MANUFACTURE: Volvo Penta

Model# 852741 PO4 Serial # 042410

NUMBER OF STATIONS: 1 LINES AND FITTINGS: Reinforced flexible hose, with metallic fittings. Appears serviceable.

LIQUEFIED PETROLEUM GAS SYSTEM

LIQUEFIED PETROLEUM GAS SYSTEM (LPG)

TYPE/LOCATION:

[A2] An LPG gas system is presently installed onboard the "S.S. Minnow" but is not in use according to the owner. No tanks were sighted while aboard the vessel.

Abandoned LPG system GROUND TACKLE

GROUND TACKLE
ANCHORS: Danforth 2500 style anchor sighted in forward hold. Estimated four feet of 3/8" galvanized chain is attached. No

additional rode was sighted.

ELECTRONICS AND NAVIGATION EQUIPMENT

ELECTRONICS (NAVIGATION)
VHF: Si-Tek Serial # FISH FINDER: Apelco XCD300 ANTENNAS: VHF antenna mounted on hard top above main salon area to port side.

ELECTRONICS (ENTERTAINMENT)
STEREO SYSTEM: Maxxima Marine Stereo

Eclipse Model # CD5441

SPEAKERS: Four (4) Yamaha indoor/outdoor speakers on foredeck and on Sundeck. Appear serviceable. TELEVISION(S): Hisense 30" LCD TV located in main salon.

Serial # H32V77C/C6Z1 LG 26" LCD TV located in master stateroom. Model # 26LH20-UA Serial # 903MXJX2E204

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
ELECTRONICS AND NAVIGATION EQUIPMENT
ELECTRONICS(ENTERTAINMENT) (continued)
DVD: Sony CD/DVD Player

Model # DVP-SR200P

THRU-HULLS
THRU-HULLS
THRU-HULLS ABOVE WATER LINE:

Abbreviation BP DD DF FV SD Shwr UNK VH Waste

Description Bilge Pumps Deck Drain Deck Fill Fuel Vent Sink Drain Shower Drain Unknown Purpose Vent Hose Waste Pumpout

**Black Icon(s) with white text indicates inoperable item.

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
THRU-HULLS
THRU-HULLS (continued)
THRU-HULLS BELOW WATER LINE:

Abbreviation ENGINE SC Waste

Description Engine Seacock Waste Output

**Black Icon(s) with white text indicates inoperable item.

SAFETY EQUIPMENT
SAFETY EQUIPMENT (UNITED STATES COAST GUARD)

* *

NUMBER AND TYPE OF PFD'S: [A3] None sighted. NUMBER OF THROWABLE PFD'S:Two life rings stationed to port and starboard at upper railing. Both are in good condition. FIRE EXTINGUISHERS: [A4] Kidde Type B:C Size 1 located at helm. Gauge shows Full. Appears serviceable. No record of

inspection. Kidde Type B:C Size 1 located on starboard bulkhead forward of helm. Gauge shows depleted. Kidde Type B:C Size 1 located on aft bulkhead of Master stateroom. Gauge shows full. Appears serviceable. No record of inspection.
VISUAL DISTRESS SIGNALS (FLARE KITS): None sighted. SOUND DEVICES: Yes, air horn. Operable. BELL< (12M-39'4"): Located on fore deck to starboard. Appears serviceable. NAVIGATIONAL LIGHTS: Operational checked OK in all positions.

* *

INLAND NAVIGATION RULE BOOK< (12M-39'4"): [A5] None sighted. "NO OIL DISCHARGE" PLAQUE: [A6] None Sighted. TRASH DISPOSAL PLACARD: Yes, found properly displayed in main salon area. Note: Vessels over 40' are required to have a

written waste management plan onboard as well.

WASTE MANAGEMENT PLAN (OVER 40' ):

[A7] None Sighted. Vessels over 40' are required to have a written waste

management plan onboard.

"S.S. Minnow" surveyed by Tipton Marine Surveys- Lenoir City, TN 37771

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III. SYSTEMS
SAFETY EQUIPMENT
SAFETY EQUIPMENT (UNITED STATES COAST GUARD) (continued)
FCC STATION LICENSE (VHF EQUIPPED ONLY):None Sighted. FCC OPERATORS LICENSE (VHF EQUIPPED ONLY): None sighted. VENTILATION (GAS ONLY): Yes provided by power blowers in the engine compartment. Appears serviceable. FLAME ARRESTORS (GAS ONLY): Yes, USCG approved.

AUXILIARY SAFETY EQUIPMENT

BILGE WATER ALARM: None sighted. This additional level of safety is highly recommended. SEARCH LIGHT: Jabsco Rayline model with control pad located at the helm. FIRST AID KIT: None sighted. Highly recommended to maintain a first aid kit on board at all times.

* * *

SMOKE DETECTOR: [A8] None Sighted. Highly recommended. CARBON MONOXIDE DETECTOR: [A9] None Sighted. Highly recommended.

BILGE PUMPS
LIST: [A10] None sighted during survey. Helm has three position switches (Auto - Off - On) for a bilge pump at the Engine and another Forward. Turned both switches to manual, which activated the indicator lights at the helm and listened for any indication that they were running in order to help locate them to no avail. Spoke with owner about it after the survey was completed and he stated the forward pump is located forward of the helm beneath a panel in the floor that is accessible when the carpet is pulled back. He stated he didn't know where the engine pump bilge pump was located.

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IV. FINDINGS AND RECOMMENDATIONS

Deficiencies noted under ''SAFETY'' should be addressed before vessel is next underway. These findings represent an endangermentto personnel and/or the vessel's safe and proper operating condition. Findings may also be in violation of U.S.C.G. regulations. Findings noted under ''OTHER FINDINGS '' should be corrected in the near future so as to maintain standards and to help the vessel to retain it's value. Findings will be listed under the appropriate heading: A. B. C. SAFETY DEFICIENCIES OTHER FINDINGS NEEDING ATTENTION SURVEYORS NOTES AND OBSERVATIONS

A. SAFETY FINDINGS (United States Coast Guard):

FINDINGS A.1 (PAGE 7) "Y" VALVE(S): The Y valve is not locked in the closed position to prevent discharge of waste into the lake. This in violation of Federal code 33 part 159 section 7. A.2 (PAGE 8) TYPE/LOCATION: Unable to test LPG system. No pressure gauge or emergency off mechanism was sighted. Do not use system until properly installed and tested. A.3 (PAGE 10) NUMBER AND TYPE OF PFD'S: USCG requires an approved PFD for everyone onboard while underway. A.4 (PAGE 10) FIRE EXTINGUISHERS: Kidde Type B:C Size 1 located on starboard bulkhead forward of helm. Gauge shows depleted. RECOMMENDATIONS

Comply with Federal Regulations.

Upgrade system to comply with ABYC standards. Do not use LPG system until properly installed and tested. Comply with USCG Safety Regulations, 33 CFR 175/46 CFR 25.25, for personal flotation devices. Recharge or replace fire extinguisher.

A.5 (PAGE 10) INLAND NAVIGATION RULE BOOK< (12M-39'4"): 33 CFR Part 88 section 05 states that the Comply operator of each self-propelled vessel 12 meters or more in length shall carry on board and maintain for ready reference a copy of the Inland Navigation Rules. A.6 (PAGE 10) "NO OIL DISCHARGE" PLAQUE: 33 CFT Part 155 section 450 states that A ship, except a ship of less than 26 feet in length must have a placard of at least 5 by 8 inches, made of durable material fixed in a conspicuous place in each machinery space, or at the bilge and ballast pump control station stating the following: Discharge of Oil Prohibited...

with Federal regulations.

Provide USCG ''No Discharge of Oil'' placard, as per CFR 155.450.

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IV. FINDINGS AND RECOMMENDATIONS

A. SAFETY FINDINGS (United States Coast Guard):
FINDINGS RECOMMENDATIONS A.7 (PAGE 10) WASTE MANAGEMENT PLAN (OVER 40' ): CFR 33 Part 151 Section 57 requires that a Comply vessel 40 feet or more in length equipped with a galley and berthing shall have a Waste Management Plan. The plan will describe the procedures for collecting, processing, storing and discharging garbage and designate the person who is in charge of carrying out the plan. A.8 (PAGE 11) SMOKE DETECTOR: No Smoke Detectors installed. A.9 (PAGE 11) CARBON MONOXIDE DETECTOR: No Carbon Monoxide detectors installed. A.10 (PAGE 11) LIST: Engine and forward bilge pumps are either not installed or they are not operating.

with federal regulations.

Highly recommended. Highly recommended. Investigate and repair as necessary.

B. FINDINGS NEEDING ATTENTION:

FINDINGS B.1 (PAGE 4) TRANSOM: Moisture readings taken inside the transom showed moist areas on both sides of the transom below the blowers. The gel coat on the transom has cracked in several places on the port side. Where the plywood has been exposed there is evidence of rot. B.2 (PAGE 5) EXHAUST SYSTEM: Flexible hoses in exhaust system should be double clamped per ABYC section P-1. B.3 (PAGE 6) VOLTAGE/BATTERIES: Batteries are in uncovered containers to restrict horizontal movement but not strapped down to prevent vertical movement. Batteries should be under ventilated covers to prevent objects from falling onto and shorting out batteries. RECOMMENDATIONS

Investigate to determine cause and extent of damage. Repair as required.

Install double clamps as recommended in ABYC P-1. Repair as required.

C. SURVEYORS NOTES AND OBSERVATIONS :

FINDINGS C.1 (PAGE 4) HATCHES: Forward hatch has loose hardware on starboard hinge. RECOMMENDATIONS

Repair.

It is recommended that all below the water line thru-hulls have a proper sized wooden plug attached to function as emergency plugging device.

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V. SUMMARY AND VALUATION

STATEMENT OF OVERALL VESSEL RATING OF CONDITION:
It is the surveyor's training and experience that develops an opinion of the OVERALL VESSEL RATING OF CONDITION after the survey has been completed and the findings have been organized in a logical manner. The grading of condition, developed by BUC RESEARCH, and accepted in the marine industry, for a vessel at the time of survey, determines the adjustment to the range of base values in the BUC USED BOAT PRICE GUIDE, for a similar vessel sold within a given time period, as a consideration to determine the Market Value. The following is the accepted marine grading system of condition. (Source: BUC website.) ''EXCELLENT (BRISTOL) CONDITION'' - Maintained in mint or bristol fashion - usually better than factory new - and loaded with extras - a rarity. ''ABOVE AVERAGE (BUC) CONDITION'' - Has had above average care and equipped with extra electrical and electronic gear. ''AVERAGE (BUC) CONDITION'' - Ready for sale requiring no additional work and normally equipped for its size. ''FAIR CONDITION'' - Requires usual maintenance to prepare for sale. ''POOR CONDITION'' - Substantial yard work required and devoid of extras. ''RESTORABLE CONDITION'' - Enough of hull and engine exists to restore the boat to usable condition. As a result of my investigation, as shown in the SYSTEMS AND FINDINGS AND RECOMMENDATIONS section of this REPORT OF SURVEY, and by virtue of my experience and training it is my opinion that the "S.S. Minnow" should be considered to have an OVERALL VESSEL RATING OF CONDITION AS: OVERALL VESSEL RATING: AVERAGE

STATEMENT OF VALUATION:
1. The ''FAIR MARKET VALUE'' is the most probable price in terms of money which a vessel should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated. b. Both parties are well informed or well advised, and each acting in what they consider their own best interest. c. A reasonable time is allowed for exposure in the open market. d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and e. The price represents a normal consideration for the vessel sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. BUC.com was used to determine the FAIR MARKET VALUE (FMV) of the "S.S. Minnow". A query was submitted to BUC.com for boats matching the description 1990 Gibson 42 Houseboat with a single Volvo 250 I/O engine in Average (BUC) Condition. Therefore, after consideration of the reliability of the data, the extent of the necessary adjustments and condition of the vessel as detailed by BUC, it is your surveyor's opinion that the ''FAIR MARKET VALUE'' of the "S.S. Minnow" is: $34,300 Thirty Four Thousand Three Hundred Dollars 2. The ''ESTIMATEDREPLACEMENT COST'' indicates the retail cost of a new vessel of the same make/model with similar equipment offered by the same manufacturer. ''ESTIMATEDREPLACEMENT COST'' of the subject vessel is: $154,000 One Hundred Fifty Four Thousand Dollars

SUMMARY:
In accordance with the request for a marine survey of the "S.S. Minnow" for the purpose of evaluating its present condition and estimating its Fair Market Value and Replacement Cost, I herewith submit my conclusion based on the preceding report. The subject vessel was personally inspected by the undersigned on July 02, 2012 and was found to be a well constructed vessel. It is being well maintained and is in average condition at this time. The area of rot noted at the transom must be repaired quickly in

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V. SUMMARY AND VALUATION

order for the vessel to maintain or even improve its condition and value. Subject to the correction of any deficiencies listed in section IV A. (Safety), the vessel is considered to be suitable for its intended use of recreational boating on Watauga Lake, TN. Any other deficiencies listed should be attended to in a timely fashion.

SURVEYOR'S CERTIFICATION:
I certify that, to the best of my knowledge and belief: The statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the vessel that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. My compensation is not contingent upon the reporting of a predetermined value or direction in value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulate result, or the occurrence of a subsequent event. I have made a personal inspection of the vessel that is the subject of this report. This report is submitted without prejudice and for the benefit of whom it may concern.

ATTENDING SURVEYOR:

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VI. PHOTOGRAPHS

S.S. Minnow

Starboard Bow

Hull Identification Number (HIN)

Stern

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VI. PHOTOGRAPHS

Fore deck seating

Engine Compartment

Sun Deck

Helm Console

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VI. PHOTOGRAPHS

Helm

Port side Cubby berth

Galley

Head

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VI. PHOTOGRAPHS

Master Stateroom

Master Stateroom

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