Specifications

V. SUMMARY AND VALUATION
Page 21 of 30"Infinity" surveyed by Marine1 Surveying, LLC - Marietta, GA 30068
STATEMENT OF OVERALL VESSEL RATING OF CONDITION:
It is the surveyor's experience that develops an opinion of the OVERALL VESSEL RATING OF CONDITION after a the survey has been
completed and the findings have been organized in a logical manner.
The BUC grading system of condition for a vessel sold within a given time period, has been used as a consideration to grade the
vessel and to determine the Market Value. Developed by BUC RESEARCH and generally accepted by the marine industry, for a
vessel at the time of survey, it is also determines the adjustment to the range of base values in the BUC USED BOAT PRICE GUIDE.
The following grading system has been used as a standard for determining the vessel's condition:
''EXCELLENT (BRISTOL) CONDITION'': has been maintained in mint or bristol fashion - usually better than factory new - loaded with
extras - a rarity.
''ABOVE AVERAGE CONDITION'': has had above average care and is equipped with upgraded operational systems.
''AVERAGE CONDITION'': has had average care, is ready for sale requiring some additional work and normally equipped for her
size and intended use.
''FAIR CONDITION'': requires more than normal maintenance to prepare the vessel 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, my opinion is
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.
Four (4) Comparable vessels from BUCValuPro™ were adjusted for BUC® Condition in the Southeast area, averaged, and highest
and lowest not used.
1. 2001 Sea Ray 270 Sundancer. Fair Market Value: 28,700-31,900 US$. Replacement: 126,000 US$.
2. 2001 Sea Ray 270 Sundancer. Fair Market Value: 30,300-33,700 US$. Replacement: 133,000 US$.
3. 2001 Sea Ray 270 Sundancer. Fair Market Value: 29,800-33,100 US$. Replacement: 131,000 US$.
4. 2001 Sea Ray 270 Sundancer. Fair Market Value: 38,500-42,800 US$. Replacement: 156,000 US$.
Therefore, after consideration of the reliability of the data, the extent of the necessary adjustments and condition of the vessel,
it is your surveyor's opinion that the ''FAIR MARKET VALUE'' of the subject vessel with trailer is:
$34,500
Thirty Four Thousand Five Hundred Dollars
2. The ''ESTIMATED REPLACEMENT COST'' indicates the retail cost of a new vessel of the same make/model with similar equipment
offered by the same manufacturer. ''ESTIMATED REPLACEMENT COST'' of the subject vessel is:
$132,000
One Hundred Thirty Two Thousand Dollars