However, no one in their right mind would call Manhattan an
island in the Atlantic ocean. It's surrounde by rivers on all sides, for
gods sake.

you are just jealous that you don't live in the Center Of The Universe.

you are just jealous that you don't live in the Center Of The Universe.

Fremont?

s I'd like to set up an
escrow account with the sellers $$$s, do the deal, and pay for repairs
with the escrow funds. It may be sticky getting insurance however
with defective tanks on the survey. If I push the deal out waiting
for repairs, there is a big risk of interest rates taking off in a big

Ask your insurance broker about "port risk" coverage. That's a limited policy
that would cover the vessel if it sank or caught fire while waiting to get into
the yard for repairs. (If you take it out and use it, you're uninsured). In
your situation, there might be an exclusion for oil spill liability.

The escrow approach works well, and since there's a lender involved that may be
the factor that allows the deal to move ahead prior to the tank repair. The
seller might be understandably reluctant to spend several thousand dollars
repairing the tanks while risking that your financing
might dry up. Undoubtedly you could survive a bump of a few percent or more in
the interest rate, but the seller doesn't know that you are capable or willing
to do so.

If the survey makes the lender balky, (and if you're dealing with an
organization where you can talk sense to the actual decision makers), another
solution is to set up a "hold back" provision in the loan.

You and the seller agree that the selling price of the boat will be (example)
$300,000 *with* the survey items corrected. The survey items total $30,000.
At closing, you sign a note for $300,000 (less your dp, of course).
The seller gets $270,000 (gross, before commissions, payoff of any marine
mortgage, etc). Your lender sits on the remaining $30,000 until the repairs are
completed to the surveyor's satisfaction.

The lender is insulated by your down payment as well as the $30,000 holdback,
so this can sometimes get the lender on board when there are serious exceptions
to survey.

"Marshall Banana" wrote in message
...
Also Sprach JAXAshby :
billy bud, I live on an island in the Atlantic Ocean.

It's not an island. It's a peninsula. The Supreme Court said so,
officially making Whidbey Island, WA the longest island in the country.

Manhattan Island is a peninsula? Well, there is that tiny piece of the
Bronx
that is legally part of Manhattan, but I don't live on that part.

Ah, I thought you had mentioned you lived on Long Island, which is legally
a peninsula. However, no one in their right mind would call Manhattan an
island in the Atlantic ocean. It's surrounde by rivers on all sides, for
gods sake.

Jax never was very good with navigation.

The tax man clerk. They actually paid $30 with a $5 rebate for the
rope/line/twine. Then the Federal government trained clerk took the rebate
and charged a 40% handling charge to administer the rebate. About like the
rest of the Federal Government on giving back the taxes they extracted from
the states, to give back to the states. But if the clerk was really
government material, he would have added some extra requirements to the 60%
of the rebate he let the payers have.
Bill

"Gould 0738" wrote in message
...
The acutal solution:

The rec.boats posters went into Big Box Marine.

Calif Bill bought ten feet of anchor line
Gould bought ten feet of rope to use for an anchor rode
Jax bought ten feet of rope to use for an anchor rope.

The young clerk on duty got rather confused by it all, and forgot what the
cordage was supposed to sell for.
The clerk charged all three rec.boats posters $10 @.

Before the posters could relocate their argument to the parking lot, the
manager of Big Box Marine asked the clerk about the sale. The clerk said,
"I
didn't know what to charge, so they each paid $10."

"That's too much said the manager of Big Box Marine, " {{OK OKIt's a
fable
already so give me a break}} "Take $5 out of the till and give it back to
them."

The clerk didn't know how to divide $5 by three, so he took a $2 "tip" and
gave
eachof the rec.boaters a $1 refund. Since the cordage originally cost each
poster $10 and they received $1 back, the net cost per poster could be
said to
be $9.

Since 9X3 = 27, and the clerk absoconded with $2....what happened to the
extra
buck? ($27 + 2 = $29)

Who will be the first "unstumped" by this one? :-)

The people paid $30 originally, with the $5 taken from the till that makes
the actual cost $25. The people paid $27 less the $2 the clerk took, it
becomes $25.


"Calif Bill" wrote in message
nk.net...
The tax man clerk. They actually paid $30 with a $5 rebate for the
rope/line/twine. Then the Federal government trained clerk took the
rebate
and charged a 40% handling charge to administer the rebate. About like
the
rest of the Federal Government on giving back the taxes they extracted
from
the states, to give back to the states. But if the clerk was really
government material, he would have added some extra requirements to the
60%
of the rebate he let the payers have.
Bill

"Gould 0738" wrote in message
...
The acutal solution:

The rec.boats posters went into Big Box Marine.

Calif Bill bought ten feet of anchor line
Gould bought ten feet of rope to use for an anchor rode
Jax bought ten feet of rope to use for an anchor rope.

The young clerk on duty got rather confused by it all, and forgot what
the
cordage was supposed to sell for.
The clerk charged all three rec.boats posters $10 @.

Before the posters could relocate their argument to the parking lot, the
manager of Big Box Marine asked the clerk about the sale. The clerk
said,
"I
didn't know what to charge, so they each paid $10."

"That's too much said the manager of Big Box Marine, " {{OK OKIt's a
fable
already so give me a break}} "Take $5 out of the till and give it back
to
them."

The clerk didn't know how to divide $5 by three, so he took a $2 "tip"
and
gave
eachof the rec.boaters a $1 refund. Since the cordage originally cost
each
poster $10 and they received $1 back, the net cost per poster could be
said to
be $9.

Since 9X3 = 27, and the clerk absoconded with $2....what happened to the
extra
buck? ($27 + 2 = $29)

Who will be the first "unstumped" by this one? :-)

The people paid $30 originally, with the $5 taken from the till that makes
the actual cost $25. The people paid $27 less the $2 the clerk took, it
becomes $25.

Very close. In fact, you may have it figured out and I'm not quite bright
enough to follow your explanation. The problem confounds some people who are
led into doing a certain type of math.

The $9 apiece is really a red herring. Like good propaganda, it uses someting
that appears logical to support something that is not true.

$30 aggregate from the buyers. At this point the cost of the goods was $30.
That
changed to $25, momentarily, when the manager instructed the clerk to refund $5
fom the till. The cost went back up to $27 when the clerk "reduced the refund"
by two bucks. Add the dollar apiece given to
the three posters to $27, and all $30 is accounted for.

But 3 x $9 is still $27, and the clerk took $2.

Amazing what you can do with a carefully selected portion of the truth and a
deliberately calculated presentation.

Also Sprach JAXAshby :
However, no one in their right mind would call Manhattan an
island in the Atlantic ocean. It's surrounde by rivers on all sides, for
gods sake.

you are just jealous that you don't live in the Center Of The Universe.

Actually, I used to live there, grew up there in fact. Spent 5 years in
school in Atlanta, decided to get out of that hellhole. Moved back to NY
for my first job. Entire company was moved to Mexico 3 years later. Then
I moved to Seattle, been here ever since. It's like New York without all
the assclowns. and FYI, I live precisely 20 miles from the Center of the
Universe... at least that's what the sign says.

http://www.seattlephotographs.com/ph...nt_sign_2d.htm

Dan

--
"A good engineer gets stale very fast if he doesn't keep his hands
dirty."

-- Wernher von Braun

On Wed, 19 May 2004 17:54:46 -0400, "Gene Kearns"
wrote:

pwmeek wrote:
On adding chain to the rode: I like to have chain
equal to the weight of the anchor. Unless you
are anchoring in coral or some other abrasive
bottom, six to ten feet is plenty, so you up the
size of the chain to get the weight up. With a
25# danforth, use ten feet of 1/2" chain (overkill
for strength, but about the right weight).

If you are using this for the original 19' boat.... you certainly
*will* be anchored....

Actually, that IS the rig I use on my 20' center
console. I occasionally wish it were lighter, but
not as often as I am glad I have it when I make
a first-try set on hard clay in a 4 kt current.

I usually find that only an inch or two of the
flukes have penetrated into the clay when I
retrieve. Once another boat, that failed in
making a set, t-boned me (his side/my bow).
On that retrieve, nearly 6" had dug in.
Maybe not typical, but it's MY worst-case
anchoring problem.

I've also used it to kedge off a mud bank
that I ran up on. It took 4 of us pulling
to drag us off. (An embarrassing error on
my part -- don't ask.)

I do carry a 10# mushroom for a lunch "hook".

I am glad I have it when I make
a first-try set on hard clay in a 4 kt current.

why do you use a Danforth in hard clay?