Terms and Conditions for Survey

The parties agree as follows:
The undersigned requests Turnstone Marine Survey LLC to undertake a marine survey and/or other specified service to the vessel
designated on the Request to Survey form. Turnstone Marine Survey LLC (henceforth TMS) agrees to perform the requested service, to
use due diligence and reasonable care while doing so, and to determine and convey the results in a written or verbal report within the
terms and conditions of this agreement. The report represents the full and complete findings; verbal statements, opinions and
representations notwithstanding. The written survey report is submitted without prejudice for the sole and exclusive use of the survey
purchaser(s). The survey purchaser(s) specifically agrees not to release, nor reveal the survey report, nor any part thereof, to any party
who may rely upon the content. TMS agrees to furnish any copies as required to financial and insurance concerns for the exclusive
purposes of lending decisions and insurance underwriting. The survey purchaser(s) specifically agree not to reproduce, photocopy, nor
quote the survey report, nor any part thereof. (TMS holds ©copyrights for its reports). The survey purchaser(s) saves harmless TMS and
Peter J. Spang, personally and as an officer and director from any loss or claim of any kind whatsoever, arising from the use or reliance of
any third party(s) of the survey report, or its content or findings. The use of, or reliance upon the survey report as a “seller’s survey”, (or by
subsequent purchaser(s) or party(s) in interest including charterers), is specifically prohibited.

Acceptance and use of this report by the client acknowledges the client’s understanding that the report has been composed of
information that is believed to be true after reasonable investigation and inquiry but is not warranted to be so. The information was
obtained without drilling, diving, ultrasonics, cleaning or opening up to expose parts or conditions ordinarily concealed. There were no
tests for tightness or soundness conducted other than the conditions noted visually.

Acceptance and use of this report acknowledges the Client’s understanding that no determination of stability or structural strength has
been made and no opinion is expressed.

Acceptance and use of this report acknowledges the Client’s understanding that Turnstone Marine Survey, LLC. does not accept any
responsibility for damage or deterioration not found or discovered during the course of survey, nor for consequential damage,
deterioration or loss due to any error or omission.

The Client hereby undertakes to keep the Surveyor/Consultant and its employees, agents and subcontractors indemnified and to hold
them harmless against all actions, proceedings, claims, demands or liabilities whatsoever or howsoever arising which may be brought
against them or incurred or suffered by them, and against and in respect of all costs, loss, damages and expenses (including legal costs
and expenses on a full indemnity basis) which the Surveyor/Consultant may suffer or incur (either directly or indirectly) in the course of the
services under these Conditions.

Notwithstanding the above clause, in the event that the Client proves that the loss, damage, delay or expense was caused by the
negligence, gross negligence or willful default of the Surveyor/Consultant aforesaid, then, save where loss, damage, delay or expense
has resulted from the Surveyor’s/Consultant’s personal act or omission committed with the intent to cause same or recklessly and with
knowledge that such loss, damage, delay or expense would probably result, the Surveyor’s/Consultant’s liability for each incident or
series of incidents giving rise to a claim or claims shall never exceed a sum calculated on the basis of ten times the
Surveyor’s/Consultant’s charge.