PAUL R. ANSTEY, INC. MARINE SURVEYOR YACHT DESIGNER AND CONSULTANT

REPORT OF SURVEY "GUNEFIN"

file no.: 8886

date. May 20, 2002

The survey report was conducted subject to the following conditions: That it is agreed and understood that neither this corporation nor any of its directors or employees is to be held responsible in any circumstances whatsoever and in any way for any error in judgment, negligence, or default, nor for any omission, misrepresentation, misstatement or inaccuracy in the report. The survey is carried out for the party requesting and paying for the survey and is not to be considered valid except for those listed on the survey under "TO:" Payment for the survey shall be construed to be an acceptance of the above conditions.

The sloop "GUNEFIN" was surveyed afloat and in dry dock at Summerfields Boat Works and at Guava Isle, Fort Lauderdale on March 9 and May 20, 2002.

A trial run was neither requested nor conducted, therefore, the equipment was not fully tested. There was no indication that any equipment was in other than good working order.

Considerable work has recently been carried out on the vessel to correct previous survey deficiencies.

INTERIOR

Inspection of the vessel was made to all accessible areas. There are inaccessible areas behind ceilings, soles, linings, engines, tanks, batteries, etc.. All appeared to be in good condition with the following exceptions, findings and recommendations:

The fiberglass bonding of the bulkheads, partitions and engine beds was inspected, where accessible. There is some minor delamination in the fiberglass bond below the forward berths. This should be re- fiberglassed..

The electrical wiring system appeared to be in good condition and to be in accordance with marine specifications.

The galley and head 110 volt electric outlets should be replaced with OFCI protected units.

The batteries are properly secured in boxes with lids.

The seacocks appear to be in generally good condition. They should be cleaned and serviced. Seacocks and flex sections should be inspected at regular intervals.

The following hoses were noted to show signs of deterioration. They should be replaced:
     Head intake hose.
     Manual bilge pump hose.
     Forward sink drain hose.

The bilge pumps appeared to be in working order. They are adequate in number for a vessel of this size.

Inspection of the fuel and water tanks, where accessible, revealed all to be in good condition.

The fuel and water tanks were not full at the time ofthe survey, therefor the surveyor was not able to prove them leak free.

The engine was inspected, where accessible, externally. All was found to be in good condition with no obvious signs of fuel, oil, or water leaks.

The engine should be thoroughly serviced. The oil, filters, coolant, hoses, belts, etc. should be replaced as necessary.

The fire extinguishers should be serviced and recertified. This should be repeated on an annual basis. (It was reported that this has been ordered and the work is in hand).

The steering gear was inspected. All appeared to be in good condition and to be in working order.

DECKS AND SUPERSTRUCTURE

The decks and superstructure were inspected. All appeared to be in good condition with the following exceptions, findings and recommendations.

The decks and superstructure were inspected visually. No deterioration was discovered.

The deck and superstructure gelcoat should be compounded and waxed. Minor chips, scratches and crazes should be ground out and be filled with matching gelcoat.

The mast, standing and running rigging was inspected from deck level. be in good condition. All appeared to be in good condition.

The lower swages were inspected. No cracks or other defects were noted.

     A lifering should be carried, adjacent to the helmsman.

     Before offshore sailing a light and man-over-board pole should be attached to the lifering.

An up to date set of flares was noted aboard.

The pulpits and lifelines were inspected. They all appeared to be in serviceable condition and to be well secured to the deck.

The sheet and halyard winches were inspected. They appear to be in serviceable condition. The winches should be cleaned and lubricated.

Before offshore sailing the compass should be swung. An up to date deviation card should be aboard.

The lifejackets were found to be in serviceable condition. They are adequate in number for a vessel of this size. One jacket, of the proper size, should always be carried for each person aboard.

The anchors were found to be in serviceable condition. They are adequate in size for the vessel.

An adequate emergency tiller was noted aboard.

There is some corrosion in the stainless steel bow assembly. The bob stay has recently been replaced. The corrosion should be monitored. If further cracking is discovered the assembly may require replacement.

TOPSIDES AND BOTTOM

The topsides and bottom were inspected. All appeared to be in good condition with the following exceptions, findings and recommendations:

The topsides appear to be in good condition. They should be compounded and waxed to restore a full gloss. Minor chips and scratches should be ground out and be touched up with matching ge1coat.

External inspection ofthe through-hull fittings revealed all to be in good condition. There is no sign of electrolysis damage. The fittings appear to be well secured to the hull.

There are a number of blisters in the bottom gelcoat and behind the first layer of fiberglass. These are not considered to be structural, however, it is recommended that any cracked or broken blisters, which may develop, be ground out and be filled with an epoxy mix.

The bottom paint is in fair condition.

The propeller and shaft were inspected. All appeared to be in good condition and to be tracking true.

The cutlass rubber bearing was noted to be in serviceable condition.

The zinc anode was recently replaced.

The rudder and rudder bearing were inspected. All appeared to be in good condition with only normal signs of wear.

This vessel was inspected afloat and in dry-dock without making removals to expose parts concealed. It is the opinion ofthe surveyor that the vessel is in structurally sound and in satisfactory condition for intended service as a yacht.

This survey is base on the facts presented and discovered, based on opinion, with no warranty either specified or implied.

Signed without prejudice: PAUL R. ANSTEY INC.: