AIRCRAFT APPRAISAL REPORT CESSNA SKYLANE 182 N94671 SN 182-66485 C182Q Appraisal data prepared in accordance with National Aircraft Appraiser Association National Aircraft Dealer Association (NADA) Industry FMV Market Comparison Feb 2016 Introduction This report is prepared in accordance with the Aircraft Bluebook (www.aircraftbluebook.com) a global aircraft value authority, since 1952 and National Aircraft Appraiser guidelines. Aircraft are Fair Market Valued (FMV) by industry comparison of available serial numbers (SNs) of the same type and year. AD (Airworthiness Directives), flight hours and maintenance performed on the subject aircraft are verified by aircraft mechanics familiar with the SN and certified with FAA Inspection Authorization. Survey Aircraft The Cessna 182 Skylane® is an American four-seat, light airplane built by Cessna Aircraft of Wichita, Kansas. It has the option of adding two (2) child seats, installed in the baggage area. Introduced in 1956, the 182 has been produced in a number of variants, including a version with retractable landing gear and is the second most popular Cessna® model, after the 172. The Cessna 182 is an all-metal (mostly aluminum alloy) aircraft, although some parts – such as engine cowling nose bowl and wingtips – are made of fiberglass or thermoplastic material. Its wing has the same planform as the smaller Cessna 172 and the larger 205/206 series; however, some wing details such as flap and aileron design are the same as the 172 and are not like the 205/206 components. The 182Q Skylane is powered by a 230-hp (172 kW) Continental O-470-U piston engine, gross weight 2,950-lb (1,338-kg) and “the Q-model” was FAA certified on 28 July 1976. Cessna’s website lists 22,336 Skylanes delivered up to 2007, plus 901 Turbo Skylanes delivered up to 2007. [6] General Characteristics Crew: One (1). Capacity: Three (3) passengers, with two (2) optional child seats. Length: 29-ft 0 in (8.84 m). Wingspan: 36-ft 0 in (11.0 m). Height: 9-ft 4-in (2.8 m). Wing area: 174-sq ft (16.2 m²). Empty weight: 1,970-lb (894-kg). Useful load: 1,140-lb (517-kg). Max Takeoff weight: 3,100-lb (1,406-kg). Power Plant: Continental O-470U with 2-bladed constant speed propeller, 230-hp (172 kW). Performance Maximum Speed: 150 knots (173 mph, 278 km/h). Cruise Speed: 145 knots (167 mph, 269 km/h). Range: 930-nm (1,070 mi, 1,722 km). Service Ceiling: 18,100-ft (5,517 m). Rate of Climb: 924-ft/min (4.7 m/s). 2|Page Rev. A AIRCRAFT APPRAISAL REPORT Name: C182Q Skylane Appraisal Attention: Karl Seuring Company: AirSpeed Jet Services, LLC. Phone: 425/576-4030 Address: 5400 Carillon Point, Kirkland, WA 98033 Make: Cessna Aircraft Corporation Model: C182Q Skylane Serial Number (SN): 182-66485 FAA Reg. #: N94671 Yr. Mfg: 1978 Type of Aircraft: Single engine piston. Four (4) cabin seats, with Child seat option. Airframe Total Time: 3049-hrs No. Ldgs: N/A. Cycles: N/A. Airframe Condition: High-average. History: Single previous owner, KPAE-based. Log Books Appear: All Original. Comments: This aircraft appears to be well-restored and then maintained. N94671 has recently undergone refurbishment to include new interior, carpet, paint and avionics. No corrosion was noted during the inspections of the aircraft. Cabin and baggage doors appear to fit properly. The controls were unlocked and appear to move freely and properly. There is no sign of fuel or oil leakage. Airframe and engine logs have been reviewed and are current with Annual Sign off April 2015. There is a complete Airworthiness Directive (AD) listing included in the airframe and engine logs. The N94671 Hobbs meter is currently recorded at 471.8-hrs. MAINTENANCE STATUS Annual Due Date: April 2016. On Progressive Inspections: No. Issues: None. Life Limited Systems: No. Cycle Life limited Systems: No. Issues: ELT battery due 12/2016, Service letters are referred to as being complied with. ADs Complied with: Yes. 3|Page Estimated Cost for AD compliance: N/A Rev. A EXTERIOR CONDITION Exterior Condition: Very Good - 8/10. Note: Cowling & wheel pants, stripped & repainted. Paint Condition: Very Good - 8/10. Type Brakes: Disk Base Condition: Very Good - 8/10. Repainted by: N/A. Anti-Skid: N/A. Notes: Paint is new to engine cowls and wheel pants. There are no logbook entries for previous paint repairs. Other paint appears original. INTERIOR CONDITION Glass Condition: Very Good - 9/10. Cabin Configuration: Passenger - 10/10. Panel Condition: Very Good - 9/10. Panel Layout: Good. Modern cabin design. Notes: Interior condition is new with complimentary grey-colors. N94671 interior is completely refurbished with new carpets, seats and reconditioned trim panels. Sheep skin pilot seats are installed. AIRFRAME MODIFICATIONS Modification date: April 2015. Interior: New leather, sheep skins, seat belts & carpets. New Skandia (Davis, IL) soundproofing. Modification date: August 2014. Aircraft Avionics: Installed dual-GPS and EFIS moving map with WAAS antennas for IFR flight. Modification date: Feb 2014. Paint: Cowl & wheel pants, strip & repainted. JetGlow® Polyurethane Enamel, 3-color factory codes. DAMAGE HISTORY Damage: None known or listed. Note: Airframe paint is original, except cowls & pants. Research: NTSB & Aircraft logs. 4|Page Rev. A ENGINE & PROPELLER Engine Manufacturer: Continental. Model: O-470U Engine SN: 842462 Since Overhaul: 42-hrs, STOH. Completed 4/16/13. Type: Piston, 6-cyl. Detail: Normally Aspirated, air-cooled, Horizontal 6-Cyl, 230 hp. Fire Detection: No Fire Bottles: N/A. Overhauled: 950-hrs SMOH; Logs indicate new oil cooler & no major repairs prior to top OH. Propeller Manufacturer: McCauley. Model: C2A34C204-C SN: 842462 Type: Oil dome filled Piston Detail: Anti reflective (black) coating, white stripes. Reverser: No. Blades: Two (2) each into hub. Type: Constant Speed Propeller TBO: 2,000 hrs. (100% life remaining) ENGINE MODIFICATIONS Modification date: Feb 2014. Propeller Overhaul: Removal of propeller for overhaul & reinstalled. Modification date: Feb 2014. Oil Cooler: Unit replaced with new, due to leak. Modification date: Feb 2014. Oil Filtration: Spin-remote oil filter installed. Overhauled Engine Starter. INSTRUMENTATION Full IFR: Yes. Dual Panel: Single pilot - IFR. Configurations: Standard Cessna Panel Condition: Upgraded. GPS Equipped: Yes, Dual IFR / VFR. Description: Dual pilot with dual yoke operator configuration with center-mounted dual GPS receivers, Satellite-downlink weather receiver with #2 as VFR, with battery backup for emergency operations. 5|Page Rev. A AVIONICS Primary: Dual NAV / COM with link to pilot-centered, moving-map Electronic HSI. COM 1: Collins VHF 251, 720-channel, LED digital indication. COM 2: Collins VHF 251, 720-channel, LED digital indication. DME: King KN-62 (200-NM “long range” unit). NAV / GPS 1: King KLN-90B (IFR) or Collins VIR-351, EHSI switchable. NAV / GPS 2: Garmin 495 (VFR), & Collins VIR-351. Audio Panel: PS Engineering 8000BT (BlueTooth) Stereo, with four (4) seat intercom. Transponder: KT-79, with mode C - Altitude Reporting. Multi-function HSI: Sandel 3308 EFIS, selectable from KLN-90B, VIR-351 & Collins 451. ADF: Collins 451. Autopilot: N/A. Avionics Master: Yes, Pilot lower pedestal. Avionics on the aircraft are considered to be: Hi-average, plus. APPRAISER COMMENTS This SN is nicely equipped for IFR flight with dual GPS, for both instrument and VFR flight. GPS flight using Garmin 496 is internal ‘battery back-up’ in the event of complete electrical failure and includes downlink weather & XM radio. KLN90B, VHF NAV 2 / NAV 2 and ADF are integrated into the moving map of the Sandel, model SN 3308 HIS for instrument flight. Switching of the avionics suite includes avionics master to include new JPI engine multi-parameter computer with fuel-flow and data recording. Switching for NAV 1 / NAV 2 with DME 62. AirSpeed® Engineering Panel design includes COM 1 / COM 2 in center-stack and side-by-side installation with NAV 1 / NAV 2 mounted on copilot side with KT-79 ‘thin-pack’ transponder. COM selection is controlled by the PS 8000 Engineering audio panel, with Blue Tooth. 6|Page Rev. A ADDITIONAL EQUIPMENT Dual Controls: Yes Type: Yoke Lightning System: Static wicks, trailing edges Stick Shaker: N/A. Rotating Beacon: Tail Mounted , Strobe. Strobe Lights: Wingtips. Panel lights: Post lamps ID Lights: None. Baggage Fuel: N/A Aux Fuel Quantity: 66-total. Long Range Fuel: Yes. Lavatory: N/A. Cabinetry: N/A Locations: N/A. Other Equipment: Avionics Master & JPI Engine monitoring system. Added Equipment NOTES: Dual GPS equipped with battery-backup for Garmin 495. DEICING EQUIPMENT Deice System: Partial. Capability: Trace or light. Prop Deice: N/A, paint color only. Deice Type: Electrically heated pitot. Deice Boots: N/A. Boot Condition: N/A. Windshield Deice: N/A. Windshield Wipers: N/A. Fluid Deice: N/A. Pitot Heat: Yes. Deicing NOTES This aircraft is not approved for flight into known icing conditions. APPRAISER COMMENTS This aircraft is stored indoors in a mild climate. This SN is flown regularly and was recently purchased by AirSpeed Jet Services, LLC from the original owner based at Paine Field (KPAE) in Everett, WA. Recent refurbishment includes prop, interior, paint. Hangar-kept with regular oil changes, make this aircraft an exceptional candidate for private use, flight instruction or resale. 7|Page Rev. A CESSNA 182Q APPRAISAL CALCULATIONS Retail Base Price, 182-66485: BASE $68,000 April 2015 Wholesale Market $54,000 $68,000 NADA Blue-book Values. No Liens noted, AIC Title Report - April 2015. Registry, N94671 N/C N/C N/C Deduct for Foreign Airframe Registration. No Liens noted, AIC Report - April 2015. Engines, 142-STOH ADD $16,550 $13,240 $16,550 NADA Blue-book Value. 2,000 TBO, 50-hr Oil changes, Remote Filtration. Props, 5-SMOH ADD $6,500 $5,200 $6,500 NADA Blue-book Value. 2,000 TBO, 5-yr. Calendar OH, No Deice, Painted Spinner. HSI Compass System ADD $8,540 $6,832 $8,540 NADA Blue-book Value. ADD Sandel 3308 HSI coupled KG-102A with KLN90B, VHF NAVs & ADF. GPS - IFR System ADD $4,000 $6,400 $4,000 NADA Blue-book Value. King KLN-90B, IFR (#1) & IFR-GS indication VHF Nav. GPS - VFR System ADD $1,800 $1,440 $1,800 NADA Blue-book Value. Garmin 496 with Weather downlink / XM radio inputs to PS8000 Audio. Paint Condition ADD $2,000 $1,600 $2,000 Market Value at 30% of new. Strip & paint of Cowls & Pants. Good scheme, normal hi-gloss, minimal abrasion. Interior Condition ADD $8,000 $6,400 $8,000 Market Value at 80% of new. Removal, reskin and recondition panels. New leather, sheep skin and carpets. Comparable Valuations Factory New $47,600. FMV $115,340 $95,112 $115,340 NADA Book Value, AS IS – $105,340.* NADA Book value - excludes airframe paint & interior upgrades. 8|Page Rev. A 182-66485 Exterior View Instrument Panel 9|Page PHOTO SET N94671 Original Factory Paint Scheme Updated GPS Avionics Rev. A Cabin Interior New Sheepskin pilot seats CABIN NOTES Four (4) leather seats, with sheep-skin (cockpit) inserts, New seat belts & carpeting. 10 | P a g e Rev. A Wheel Fairings NOTES New paint work match completed to engine cowlings & wheel fairings. 11 | P a g e Rev. A Ref A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE Parameter Market Value Seller Location Contact Info Model Yr. Airframe Time Deice Equip Engine Model Fuel, 100LL Avgas Inspection Status Engine SMOH Owners Prop Model Prop SMOH Paint Interior Wet Bar GPS Autopilot Radar Storm Scope FF Monitor Fuel Flow Comp Intercom Altitude Alert Capt Inst Transponder ADF DME Other 1 Other 2 AirSpeed Jet Svc N94671 $105,340* AirSpeed Jet Svc Everett, WA (425) 576-4030 1978 (66485) 3,049-hrs. Pitot Only O-470-U 78-gals Fresh Annual 42-hrs. STOH 2 Since New C2A34C204C 0-hrs. Cowls & Pants 4-PAX, All New N/A KLN90B & G496 No N/A No JPI JPI w/FF PS 8000 BT No Yes KT-79 Collins 650A KN-62 Sandel 3308 HSI Rosen Visors Compare 1 N95504 $127,500 North Dallas Av Addison, TX (972) 233-3335 1978 (66561) 1,295-hrs. Same Same Same Fresh Annual 120-hrs. 2 Since New Same 120-hrs. Touch-up New Carpet N/A G430W & G496 C300A N/A WX10A Shadin EDM 760 Garmin 340 NO Yes KT-76A KR-87 KNS-80 Built in DG Only N/A Compare 2 N941WM $92,900 Tsunami Aircraft Westerly, RI (401) 348-8877 1978 (66420) 3,940-hrs. Same Same Same Sep 2015 1050-hrs. Unknown Same 1050-hrs Original Recent Seats N/A G430W & G496 STEC 30 N/A No No No Garmin 340 NO Yes GTX-330 No KN-64 DG Only Rosen Visors Compare 3 N759RT $105,000 Richard Losher Ft. Wayne, IN (260) 493-6693 1978 (66205) 2,318-hrs. Same Same Same Fresh Annual 374-hrs. Unknown Same 374-hrs. Needs Paint Original N/A KLN94 C300A N/A No No No Garmin 340 No Yes GTX-327 No No DG Only N/A FMV NOTATIONS 26 value-points were reviewed of the same model year, interior packages and fuel capacity. Airframe, engine and propeller times were compared for overhauls completed and time remaining. Avionics upgrades were evaluated. General paint and interior condition vary. N94671 (66485) Fresh FAA Annual Inspection with aircraft weighing completed and new W/B. Each of the parameters is evaluated for calendar time, equipment type and flight hours in-service. 12 | P a g e Rev. A Table Definitions Ref A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE Parameter Market Value Seller Location Contact Info Model Yr. Airframe Time Deice Equip Engine Model Fuel, 100LL Avgas Inspection Status Engine SMOH Owners Prop Model Prop SMOH Paint Interior Wet Bar Garmin, King – GPS Autopilot Radar Storm Scope FF Monitor Fuel Flow Comp Intercom Altitude Alert Capt Instruments Transponder ADF DME Other 1 Other 2 Description Current 2015 Listed price or market adjusted –valuation Business or individual Location of Aircraft Telephone number 1978 manufacturing year, for comparables Flight Hours in service Condition of Pneumatic Deice Boots, if any. Continental manufacturer model No. Fuel quantity in Gallons Annual or Progressive, Completed or Progress status Hours Since Major engine Overhaul, Left Engine (#1) Indicate number of owners, if available. McCaulley, 2-blade. Hours Since Major Overhaul Paint condition, completion or touch-up Corporate or Freighter Floor, number of seats Installed or Removed. Primary navigation radio set. If WAAS enabled (W) Model of Autopilot If Installed for weather or downlink satellite through display If installed Digital FF monitor for tracking quantity of fuel burned Digital computer to monitor engine health Installed in audio panel or remote installed Electronic alerter for pilots Electronic Horizontal Situation Indicator (HSI) Type C or other Automatic Direction Finding (ADF) equipment Typically integral to the NAV unit or remote installed Added Equipment or function Added Equipment or function NADA Market Book Evaluation 1978 SN variation 182-63479 to 65966 & 66590. Factory New $47,600. NADA Book Value, AS IS $105,340*. BASE Avg. Retail $68,000. ADD $16.65/hr. low engine times. $16.55-hrs X 1,000 = $16,550 ADD. ADD $4.33/hr. low prop times. $4.33 X 1,500 = $6,500 ADD. ADD Sandel 3308 Comp system: $8,540, IFR GPS $4,000, VFR GPS $1,800 / Sat WX = $14,340. 13 | P a g e Rev. A AIRCRAFT APPRAISAL This aircraft was personally reviewed and inspected at Snohomish County Airport, Paine Field (KPAE) in Everett, Washington. The above information has been collected from current market FOR SALE aircraft. The fair market value (FMV) is determined from NADA Blue Book calculations with industry improvements made to power plants, airframe, interior and avionics. The inspecting mechanics make no claim to changes in market value, or certification made on SN 66485 by other mechanics or agencies. N94671, SN 182-66485 MAINTENANCE WORK & AIRCRAFT CONDITION REVIEW. Monte J. Schleiff, A&P 3684943 Licensed A&P Mechanic. 702 W. Casino Road, Everett, WA 98204 Mobile: 425/315-3656. Email: circlem1215@hotmail.com January 24, 2016 N94671, SN 66485 AIRWORTHINESS DIRECTIVE, ANNUAL COMPLIANCE & LOG BOOK REVIEW. Myron K. Davis, A&P 1713745 IA Licensed A&P Mechanic with FAA Inspection Authorization. 4709 - 147TH Ave NE, Lake Stevens, WA 98258 Mobile: 425/418-0846 Email: davismk60@comcast.net January 24, 2016 14 | P a g e Rev. A