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1996 SURVEY of Schooner TAIPI

"TAIPI II" was found to be a very strong vessel due to the minimal damage it suffered as a result of being blown ashore during Hurricane Bertha."TAIPI II" is considered by the undersigned to be a good insurance risk when ALL items from COMMENTS & RECOMMENDATIONS above are complied with. The owner of "TAIPI II" was in attendance and has been notified of the above findings verbally and by this report.The following market value is based on the average selling price of a vessel of this type and size, according to the material at hand, considering all extras and accessories fairly depreciated and is intended for insurance and financial evaluation only.The following market value is not intended to influence the purchase or non-purchase of the subject vessel. The current market value of "TAIPI II" in this geographical location, based on our experience and understanding of current market conditions and after compliance with all noted recommendations listed above, is estinated to be US$85,000.This report is sutmitted in good faith and constitutes a description of the suject vessel's condition as found at the time of survey. The undersigned Marine Surveyor assumes no responsibility for any defects and is to be held harmless for conditions subsequently arising. This report does nort warrant (expressty or implied) or guarantee the condition of the subject vessel.This survey is issued without prejudice.