While opener George Nilsson lost his stumps early, playing across the line, newly promoted Josh Allpress (20) partnered with Harvey Meyer (30) to settle the innings, using their feet to play the spinners.
Carter Hobbs (37), showed the confidence of a player who has been getting Tasman Tanning Premier 1 experience, although he ran through batting partners until Josh Brunger (14) joined him to make another partnership, before Collegiate lost a flurry of wickets to end the innings.
FDMC's best bowler was Keegan Boon with 3-13 from his eight overs.
In reply, FDMC lost early wickets as they struggled against Meyer (4-28) and the improving pace bowling of Brunger (1-16), while George Pearce (2-17) tightened the screws with his spinners.
At 65-8, the Taranaki school looked well out of it, until No10 batsman Luca Heyen (30 not out from 21 balls) hit out to bring his team within sight of the target.
However, Collegiate got his batting partners with a catch and a run out, ending the innings in the 32nd over.
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Meanwhile, the Wanganui Renegades have proved the masters of sudden death cricket after winning the 2017-18 Bullocks Premier 2 title with a comfortable victory over Wanganui Collegiate 2nd XI on Saturday.
Renegades were fourth qualifier for the semifinals with a 5-5 record, but upset top qualifier Wicket Warriors Whanganui by 38 runs in the semifinals and then repeated the dose against Collegiate, who were looking to emulate their 1st XI winning this Premier 2 title last summer.
Renegades raised 195 from their 40 overs, while in reply Collegiate lost six quick wickets and despite a 50 from Joseph Abernathy they finished well short.