1960 DOUGLAS & MC LEOD THISTLE 17. Capt. Phineas T. McHenry, Ltd. Marine Surveyor 38 Oak Hill Lane Elkton, MD

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1 1960 DOUGLAS & MC LEOD THISTLE 17 Capt. Phineas T. McHenry, Ltd. Marine Surveyor 38 Oak Hill Lane Elkton, MD

2 Capt. Phineas T. McHenry, Ltd. MARINE SURVEYOR MARINE CONSULTANT 38 OAK HILL LANE ELKTON, MD SURVEY REPORT INSURANCE SURVEY SURVEY NO. xxxx MAY 1, 20xx TO WHOM IT MAY CONCERN: This is to certify that the undersigned surveyor at the request of xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, attended the sailboat out of the water on the 1 st day of May in the year 20xx, at xxxxxxxxxxxxxxxxxx, xxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, and did survey said vessel for Mr. xxxxxxxxx, while representing his interest in obtaining marine insurance. The vessel is a Thistle 17, built by Douglas & McLeod in the year 1960, as hull number xxxx. Douglas & McLeod built Thistles from 1951 until It is stated that 4,000 Thistles were built, and the first was built in The vessel s approximate measurements are: LOA 17 0, LWL 17 0, BEAM 6 0, MAXIMUM DRAFT 4 6, MINIMUM DRAFT 6, and DISPLACEMENT 515 lbs. ALL MAJOR HULL MEMBERS, wherever acccessible, together with all surfaces, joints, bonds, fillets, webs, bulkheads, and hard curve areas were carefully inspected with particular care being devoted to areas of normal stress concentrations and possible bulkheads or other hard spots. Field methods of sounding and visual sighting were used. Also, the use of a moisture meter to determine the moisture content of the hull, decks, and other areas which could retain moisture causing damage to the vessel. HULL CONSTRUCTION: the vessel was built as a cold-mold hulled with plywood strips laid up diagonally over frames with exterior fiberglass cloth and resin. The hull has solid wood supports and frames. The hull s exterior finishing is a gel coat glazing. I have noted the following: a) The hull appears to be solid with no noted damage to the hull. The hull runs true and fair. b) The bottom was found to be solid with no signs of hard groundings or defects. The bottom was inspected with the boat being on the trailer. MEMBER ABYC and ASNT SOCIETY OF ACCREDITED MARINE SURVEYORS INTERNATIONAL INSTITUTE OF MARINE SURVEYING

3 INSURANCE SURVEY #xxxx PAGE 2 of 10 HULL CONSTRUCTION (cont.) c) The transom is well secured. d) The sheer was found to be solid. e) The mast step is well secured with no defects noted at the time of my inspection. f) The stem appears to be solid with no signs of rot. g) The centerboard housing appears to be in satisfactory condition. There is epoxy filler applied to the centerboard housing by the stem on the forward end of the housing. The area did appear to be solid, and the epoxy appears to be holding.

4 INSURANCE SURVEY #xxxx PAGE 3 of 10 HULL CONSTRUCTION (cont.) h) All knees and support appear to be in good order.

5 INSURANCE SURVEY #xxxx PAGE 4 of 10 ADDITIONAL PICTURES Hull ID Number

6 INSURANCE SURVEY #xxxx PAGE 5 of 10 STEERING SYSTEM: tiller with transom hung rudder. All appeared to be in good order. RIGGING: STANDING RIGGING a) Aluminum mast with boom and three sets of tubular spreaders. The mast appears to be straight and in good condition. The boom appears to be straight. All stainless steel hardware appear to be in good condition. b) I did note that the forestay pigtail is fraying.

7 INSURANCE SURVEY #xxxx PAGE 6 of 10 RIGGING (cont.) b) The turnbuckles appear to be in good order. Ample adjustment still remains. c) All swedged fittings that were accessible for inspection appear to be in good order. I did not detect any wires pulling from the fittings. The swedged ends do not appear to be cracked. d) The chain plates appear well secured with no signs of deck deflection or structural weakness. e) The stays and shrouds accessible for inspection appear to be in good order. RUNNING RIGGING: all in satisfactory condition.

8 INSURANCE SURVEY #xxxx PAGE 7 of 10 SAILS: sails are in like new condition.

9 INSURANCE SURVEY #xxxx PAGE 8 of 10 a) Replace the pig tail for the forestay. RECOMMENDATIONS SAFETY ITEMS AND STRUCTURAL ITEMS

10 INSURANCE SURVEY #xxxx PAGE 9 of 10 COMMENTS The overall condition of the vessel is very good. The vessel appears to have been well cared for. The owner has put a considerable amount of money into this vessel and appears to keep it to the highest of yachting standards. CONCLUSION The vessel is suitable for the manufacturer s intended use. In trying to find a fair market value for said vessel, consideration was given to the type and age of the vessel and the replacement value if the vessel was totaled. Also, I took into consideration to the condition of the vessel, vessels of similar year and type recently sold, and the Used Thistles Buying Guide. According to the Used Thistles Buying Guide, Thistles can generally be found for $2,000 - $15,000 depending on their age, condition, rigging, etc. Purchasing a new Thistle will ebetween $20,000 - $25,000 for an all-up boat ready to sail. Before purchasing a Thistle, you will want to consider how you will use it - as a daysailor, to learn how to sail/race, or primarily for racing. You will also want to consider how much work you want to do on the boat initially as well as maintenance each year. New Thistles are all built out of fiberglass, however you can still purchase one of the older mahogany boats (either restored or needing restoration). I have found that this class boat still has a strong following, and that there is a market for antique 17 Thistles. I was told that the Riddle Boat Company in Ohio could build this boat using the cold-molded plywood technique for approximately $40, I have also contacted a couple of Thistle owners to find that these boats do have a rather high resale value, and there is a Thistle owners/race organization. Also, the mast, rigging, sails, and trailer are sold separately. I would suggest that a $10, agreed insured value may be in reason with current market conditions for this antique boat.

11 Capt. Phineas T. McHenry, Ltd. MARINE SURVEYOR MARINE CONSULTANT 38 OAK HILL LANE ELKTON, MD INSURANCE SURVEY #xxxx PAGE 10 of 10 DISCLAIMER My inspection of this vessel represents reasonable care and skill, but does not include inspection of the engine or those sections requiring structural removals and disassembling. My conclusion does not constitute a guarantee or warranty of the vessel s condition or of its parts, but it is an expression of my opinion only. No liability is assumed by me for errors of judgment or omission, or for subsequent structural or mechanical weakness in the vessel. The recommendations listed in this report are a courtesy and are not all inclusive. This report should be considered as an entire document. No single section is meant to be used, except as part of the whole. It is current to the named client for 30 days of undisturbed layup of the vessel s first use. Subsequent updating and transfer of the survey is solely the right of the surveyor. The content of this report remains the sole property of said marine surveyor and may not be used without the author of the survey written permission. The use of this report shall constitute an acceptance of the above mentioned conditions. SURVEY SIGNED AND SUBMITTED WITHOUT PREJUDICE Kenneth E. Henry, Sr., AMS #370 Marine Surveyor MEMBER ABYC and ASNT SOCIETY OF ACCREDITED MARINE SURVEYORS INTERNATIONAL INSTITUTE OF MARINE SURVEYING