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Limited Warranty. Metal Shark "Builder" warrants that the Vessels shall be constructed to industry and
<br />regulatory standards and of good quality and therefore extends a limited warranty as provided herein (the "Limited
<br />Warranty").
<br />Warranty Period. Builder warrants that the Vessels and components manufactured by Builder and Builder's sub -contractors
<br />under normal use and service, will be free of defects in material or workmanship for a period of one (1) year from the date of
<br />initial, written acceptance of the Vessel. A warranty item repaired within thirty (30) days of the end of the Warranty Period shall
<br />be allocated an extended warranty of a total of thirty (30) days from the date of repair. Builder warrants that the hull, deck, and
<br />console of the Vessels will be free from defects and structural degradation for a period of ten (10) years. Builder further
<br />warrants that the fuel tank shall be free from leaks or other defects for a period of ten (10) years. Vessel's owner and Builder shall
<br />cooperate to have the warranty work performed in the most economical and efficient manner possible. Builder's Limited
<br />Warranty will extend only to original Purchaser and shall exclude all other subsequent buyers of the Vessels.
<br />Failure or damage arising from or relating to materials not supplied by Builder or sub -contractors retained
<br />by Builder and installations, repairs or alterations not performed by Builder or sub -contractors retained by
<br />2. Paints or fairing materials, varnishes, stains, chrome, and gelcoats; Builder, however, warrants that it will purchase
<br />and apply, in accordance with all manufacturer's recommendations, such finishes of good marine quality;
<br />3. Equipment, parts, and components not manufactured by Builder; Builder agrees to extend and assign the
<br />manufacturer's warranty or guarantee to Purchaser and Builder will provide the forms of warranty for all warranties
<br />received from manufacturers of equipment, parts and components, and if a claim arises in respect of an item of
<br />equipment or part or component not manufactured by Builder, Builder agrees that during the initial one (1) period,
<br />if requested by Purchaser, it will accept notice of the claim, contact the manufacturer, and use commercially
<br />reasonable efforts (which shall not include participation in litigation) in obtaining from the manufacturer the
<br />performance required to fulfill that manufacturer's warranty. Builder warrants that its installation of components
<br />shall be performed in accordance with the respective OEM's recommendations in a good and workmanlike;
<br />4. Failure or damage arising from or relating to ordinary wear and tear, lack of proper Vessels maintenance and
<br />care, wind, fire, storm, or operator's abuse, neglect, misuse, negligence, accident, grounding or mishap.
<br />Warranty Claim Procedure. Purchaser will notify Builder in writing of any warranted defect within ten (10) days
<br />of its discovery, but under all circumstances before the Warranty Period expires. Purchaser will notify Builder in
<br />writing of any grounding that may occur within five (5) days of the incident. If practicable, Purchaser shall bring
<br />the Vessels to Builder's shipyard for the warranty work. If it would be impracticable to return the Vessels to
<br />Builder's shipyard for repair, Builder may either (i) send its own employees, sub -contractors or other designee to
<br />repair the Vessels where she is berthed, in which case Purchaser shall make her available, or, (ii) if Builder chooses
<br />not to send its employees, sub- contractors or other designees, authorize Purchaser, subject to Builder's
<br />reasonable written approval after notification, to cause the repairs to be made at an approved facility, in which
<br />case Builder shall pay, or reimburse Purchaser for payment of, the costs of repair. However, no work shall be
<br />authorized to be performed for the account of Builder without Builder's specific prior written approval of a purchase
<br />order or work order submitted by the repair facility and counter -signed by Builder. If oral statements have been made
<br />regarding the warranty, such statements do not constitute warranties and are not part of the contract of sale.
<br />Emergency Warranty Claim Procedure. If Purchaser shall have provided Builder with immediate, detailed notice
<br />of repairs which Purchaser or its authorized representative believe are necessary for the safety of the crew and
<br />passengers or necessary for the safe operation of the Vessels and Builder shall fail immediately to respond with a
<br />plan of repair, Builder agrees expressly to waive any right it may have to pre -approve the repair.
<br />Limitation of Warranty. THIS LIMITED WARRANTY IS EXPRESSLY IN LIEU OF ALL OTHER WARRANTIES, EXPRESS
<br />OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS
<br />FOR A PARTICULAR PURPOSE, BUILDER WILL NOT BE LIABLE FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES OF
<br />ANY KIND WHATSOEVER, INCLUDING, WITHOUT LIMITATION, LOSS OF INCOME, TOWING EXPENSES,
<br />COMMUNICATION EXPENSES, LOSS OF USE, COMMERCIAL LOSS, LOSS OF INTELLECTUAL ENJOYMENT, OR RESALE
<br />VALUE. PURCHASER'S SOLE AND EXCLUSIVE REMEDY AGAINST BUILDER FOR ANY CLAIM ARISING FROM A DEFECT
<br />IN THE VESSELS OR ITS COMPONENTS WILL BE REPAIR OF THE DEFECT OR REPLACEMENT OF THE DEFECTIVE PART.
<br />Purchaser waives and relinquishes any and all contract rights, rights of redhibition and/or tort claims it may have against
<br />Builder for any damage to or loss of the Vessels due to defects or faulty workmanship, regardless of any negligence of Builder,
<br />or of its employees, when such loss or damage is manifested after the Warranty Period. It is specifically understood that
<br />Builder shall not have any responsibility whatsoever to Purchaser with respect to any such loss or damage.
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