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Q: How long is the period of ownership?
A: There is no cut off date by which the boat must be sold. The members continue to own their share of the boat as long as they are having fun. When 2/3 of the shareholders vote to sell their share, the boat will be sold.
Q: Why is there no fixed point in time - such as 5 to 10 years - when the boat will be sold?
A: Keep in mind that Amazing Grace is owned outright. There are no loans to pay off. As long as the members feel that the maintenance bills are reasonable they will want to continue owning and enjoying the boat.
Q: What are my options when I want to sell my share?
A1: Sailboat Partners can sell your share for you.
A2: You can sell it yourself.
Q: Can we charter the boat?
A: No. When the boat leaves the dock one of the owners MUST always be aboard. The objective is to have OWNERS sailing the boat, not charterers. Members who have an ownership interest will be much more likely to take good care of the boat than charterers who will probably never step aboard again.
Q: Are there other factors that help this program work?
A: Members will have a similar goal: cruising the Caribbean under sail with friends and family. Serious racers belong in J-Boats or sailboats dedicated to speed. The Catalina 42 is designed as a family cruiser.
Q: Why will the boat be owned by a corporation with limited liability?
A: The purpose of the corporation is to provide a limit incurred by the members. If a member were involved in a serious accident involving major damages the insurance policy would pay up to $500,000.00 in claims. At that point the assets of the company would be expended and the company would be bankrupt. It is reassuring to know that there is a limit to the liability one is facing and that is the amount the insurance policy would pay out.
Q: What is the Layout of Amazing Grace?
A: 3-stateroom layout. One master suite forward and two aft berths with two complete heads (shower, vanity, and toilet) plus a third shower on the swim platform.
Q: What is the process to become a partner? A: The process involves filling out an application and a sailing RESUME and sending/emailing them to the manager for approval. Once approved, then a bill of sale with the amount of purchase included and signed by the selling and purchasing owner's is then to be sent to the manager for future reference and sales. Then it is welcome aboard and off to the Caribbean.
Owners/Partners Section. Care should be taken to keep items well clear of the wind turbine blades. Care should be taken to not step on the many hatches aboard. Please use biocide when refueling. Directions on the container. Usually found in the top drwer at the navigation desk.
Please put covers on the instruments and autopilot when securing for the afternoon/night. Also please secure the top of the sail pack closed with the clips on top to shade the main sail. Please use the anchor snubber to relieve pressure on the windlass when at anchor.
When running the engine put the battery switch in the both/all position and when securing the engine return the battery switch to the number one position to be on the house batteries. Number two position is a single battery held in reserve for engine start should the house batteries, two batteries in the number one position, run down enough to preclude engine start. If using the engine driven refrigerator please use 1500 RPM until finished charging the cold plate. Please secure the engine driven refrigerator prior to reducing power below 1500 RPM. Enjoy your sailboat in the Caribbean.
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