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THIS DEED
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MADE this .JlIL day of AUGUST In the year nineteen hundred and ninety.lour 110941.
BETWEEN HUB CITY CLUB, a corporation duly organized and oxis1lng undor the lews of tho
Commonwealth 01 Pennsylvania, with its principal office end place 01 businO$s lit 40 Soulh Earl StI1ll!t,
In tho Borough 01 Shippensburu, Cumberland County, Pennsylvanie, Grantor,
AND The BOROUGH of SHIPPENSBURG, 8 Pennsylvania Municipelity with offices loceted at 60 Welt
Burd Streat, Shippensburg, Cumberland County, Pennsylvania. Grantee.
WITNESSETH that in consideration of the sum of ONE DOLLAR It! ,DOl. in hand paid, the recaipt
whereol is hereby ecknowledged. the seid Grantor doas grant and convoy in foo simple to Slid Grantee,
its hohs ond assigns,
All thot certain messuage or tenoment situato in the Borough of Shippunsburg. County 01 Cumborlend
and Commonwealth of Ponnsylvania. and bounded and limited as follows:
ON ~he Eest by South Earl Street; on the South by lot now or formerly of Glenn J.
Bigler; on tho West by on alley known as Seneca Street, and on the North by lot
lonnerly 01 Mrs. C.C, Stumbaugh and now or formerly 01 the Hub City Club, containing
31 foet 8 inches in Iront on Earl Street and continuing at that width to a depth 01 46
leot and thence at a width 01 32 leet 2 inches 10 tha elley on the West, the entire
depth of Ihe lot being 257 leet 4 inches, having el1lcted tnereon a two and one-half
story brick dwelling house known as 44 and 44 1/2 South Earl Street and other
improvements,
BEING THE SAME REAL ESTATE WHICH J, MONROE WYRICK and MARY E. WYRICK by dued dated
July 31. 1970 and recorded in the office 01 the Recorder of Deeds In and lor Cumburland County.
Pennsylvania, in Deed Book "T", Vorume 23. Page 159. granted and conveyed to the HUB CITY CLUB,
Grantors herein.
TOGETHER WITH the right.ol.way in common wittlthe owners of the land immBdiately adjoining on
the North along and over a right-of-way three (3) feet in width commencing ot Earl Street and
extending over the soid adjoining land to a depth oll~rty.six (46) fuat along thB North line of the
property horeby conveyed,
eOOK 110 PACE 600
FXf! rn f'T' "^"
.
PURPOSE or THE APPRAISAL
The purpose of the appraisal is to estimate the market value
of 44 South Earl street, Shippensburg for the Hub City Club.
Reference should be made to the attached deeds and addendums
of this report.
Market value - the most probable price in terms of money
which a property should bring in competitive and open market
under all conditions requisite to a fair sale, the buyer and
seller, each acting prudently. knowledgeably and assuming
the price is not affected by undue stimulus.
Implicit in this definition is the consummation of a sales
as of a specified date and the passing of title from seller
to buyer under conditions whereby:
1. buyer and seller are typically motivated.
2. both parties are well informed or well advised, and each
acting in what they consider their own best interest.
3. a reasonable time is allowed for exposure in the open
market.
4. payment is made in cash or its equivalent.
5. financing, if any, is on terms generally available in
the community at the specified date and typical fur the
property type in its locale.
6. the price represents a normal consideration for the
property sold unaffected by special financing amounts
and/or terms, services, fees, costs, or credits incurred
in the transaction.
.
IDBNTIPICATION or THE PROPERTY
The subject property is identified as 44 South Earl street,
Shippensburg, more fully described in Cumberland County Deed
Book Volume T23 Page 159.
HISTORICAL DATA
The subject property was purchased by HUB City Club on July
31, 1970 for a purchase price ot $25,000 more fully
described in the attach~d legal description.
ZONING
Tho subject property is located in a commercial zone. A
copy of the zoning regulations is made a part of the
addendum of this report.
ASSESSMENT AND TAXES
Land $ 880
Improvements $7110
Total $7990
Total real estate taxes are estimated to be $1456 per year.
AREA DATA
Two of Shippensburg's many attributes are its cen~ral
location and small-town, but growing atmosphere.
Shippensburg is physically located in the south central
corner ot the Cumberland Valley region of Pennsylvania. The
neighboring towns/cities are Chambersburg to the south,
Carlisle, Harrii!lburg to the north and Philadelphia,
Pittsburgh regions to the east and west. It's location is
also enhanced by the fact that it is situated within two
counties. Franklin County is a small rural area of farming
and businesses. Cumberland County has more of a "big city"
atmosphere. However, the character traits of the population
which was 5,246 in 1989, are influenced more by the
Chambersburg, Franklin County area rather than the Carlisle,
Page - 2
Cumberland County region. The south central location and
its proximity to major cities offers a wide variety of
choices to the people living and work ing the community.
Shippensburg is also the home of Shippensburg university, a
large mUlti-structure, higher-education institution with
approximately 6,500 students.
Shippensburg is located near the hub of interstate highways,
Pennsylvania Turnpike, state and federal highways.
Interstate 81 running north/south is about one mile east of
the town with two easy on/off exits, The main street in
Shippensburg, King Street is US Route 11, which parallels
Interstate 81. The Pennsylvania Turnpike is a distance of
approximately nine miles, Interstate 70, running east/west
and paralleling us Route 40 flows through Hagerstown,
Maryland, a distance to the south of 45 miles,
The area has access to rail, air freight and trucking
terminals. Harrisburg International Airport is 38 miles
from subject while Washington County Regional Airport is 45
miles. Both provide air parcel and cargo service to major
airports. Shippensburg, itself has four trucking firms with
major terminals located in Shippensburg, Greencastle,
Chambersburg, Carlisle and Hagerstown; with 15-45 minutes
driving time. Rail transportations is serviced by ConRail
and the Western Maryland Railway Co (C5X) with freight
offices just outside Chambers burg , One-third of the major
US markets in the Northeast, Midwest and South can be
reached within one-to-two days travel time using the
Page - J
trucking industries available or the rail network systems.
Major markets include: Pittsburgh 180 miles; New York 210
miles; Philadelphia 130 miles; Baltimore 84 miles;
Washington, D.C. 102 miles; and Detroit 480 miles.
The immediate area has a diversified terrain with topography
ranging from level and gently rOlling to steeply sloping
mountains. The varied terrain has provided a mainstay for
agriculture as well was, industrial and manufacturing
opportunities, Major employers include: The Beistle Co.
(Manufacturer of paper products), Ingersoll Rand (road
machinery), Hoffman Mills (fabrics), SKF Industries
(bearings) , Shippensburg Area School District, and
Shippensburg University. Letterkenny Army Depot, located in
Chambersburg, is the largest single employer for the entire
region. The army installation covering nearly 20,000 acres
employs approximately 4,000 civilian workers.
Generally speaking, the economy of the area, because of its
wide array of industries, coupled with the agricultural
base, has been stable during the past decade.
NBIGHBORHOOD DAta
The subject property is located in downtown Shippensburg.
The area is a mix of mUlti-family buildings, commercial
establishments and single family homes. The topography ot
the neighborhood is generally level,
DBSCRIPTION or THB SITB
The subject property consists of a rectangular size having a
trontage ot approximately 32 feet along South Ear'l Street
Page - 4
and a depth of 257 feet to an alley known as Seneca street
in the rear. The site is in grass and has a brick building
at the end of the property site. It is joined by a party
wall on the south side of the building. The lot is level
and is located in Flood Zone A of the flood plain as per
Community Panel #42036B001A Dated March 15, 1979.
DESCRIPTION OF IMPROVEMENTS
Improvements consists of a three story apartment building
which was originally six apartments. For the purpose of the
appraisal and to arrive at the value, the appraiser
considered the property as improved potential and then
deducted the cost of improvements as per the attached
estimate wi thin the report. The apartments on the third
floor were condemned and cannot be habitable due to ceiling
height. First floor consists of two four room apartments
with bath. 'fhe second floor consists of two four room
apartments and bath. These could be used as two bedroom
apartments, however, floor plan is functionally not
desirable as passage goes through one bedroom to the other.
The cost estimates show four heating units to be installed
and new electrical services. The current condition of the
property is not habitable. Details on the repair estimates
are included within the report. Total square footage for
the building containing first and second floors would be
approximately 2745 square feet. The basement is fully
concreted, stone foundation and has evidence of dampness in
the basement,
Page - 5
M.THOD or .VALUATION
In evaluating the subject property, consideration was given
to all three approaches (Sales comparison, Cost and Income)
in arriving at the tinal estimate of value. From my
analysis of the property and considering the purpose of the
appraisal, I have concluded the Sales Comparison Approach
most applicable which indicates what buyers are paying in
the market for like properties. A direct capitalization
rate was established for comparable sales. Cost Approach
was not utilized due to the age and condition of the
improvements. Income Approach shows projected income and
expenses for the property and capitalizing potential income
tor the improvements.
.
Page - 7
OPERATING INCOME STATEMENT
Projected GrOSR Income
1st floor apartment $325
1st floor apartment $325
2nd floor apartment $300
2nd noor apartment $300
Rear Brick Building lill
$1375
Total projected gross annual income $16,500
Less vacancy and credit loss 5%
Effective Gross Income
Less Expenses:
Taxes $ 1,456
Insurance $ 600
Utilities $ 950
Maintenance Repail." $ 750
Management 6% $ 941
Replacement Reserves$ 1.200
Total Expenses
Replacement Reserves$ 5,897
Effective Gross Income
Less Expenses Replacement Reserves
Net Income with Brick Building
Net Income without Brick Building
Page - 14
$
825
$15,675
.
$15,675
$ 5.987
$ 9,778
$ 8,468
APPAHt:.Nf' HALAHUOU~ ~UU::;'ANCL0 ANUlUh ,JI IIIIM! f,lAl I NVIJlUNMLNIAL CUNUIIlON::)
~~~~~u.,,,,,~~s~~l~~~~~~~;,,, .tilulo j'~~__m~~~:c:d;~~~F-i~-_ :~J
~,.", II defined .1 tMl whk:h I, Wlllbl., obvloua, .'Vldenl or manl'"llo thl IPPIII.lr.
nt. ,mll)NWl,- Envl",","nt'''', MJInJNm ;, f..f uw --':;;iJh"'HI;'-~;;'j' n;"t, "pp,,,iu,l, Only Ih,
_ ",,~""'"" w~~J!~~ "tI" ch!.,lI~_~~..'~~!.I""~.ilJ1_~11J III Ih~}!'~'_P"~.,!y_~'I"Jlllp,m.j"I"
Trill addendum repor13 the tQ!ul15 of tho opprai'Qr'~ roulU1C IIl'ipocllon oland Inqui,..:s oboullhe lIubjcc::t
proporty end Hs surround'"" area II al~o 510105 wh.! lIS5Umpllofl5 were mado about tho oXlslonco (or
nonfxlltlncel 01 any h4.l0rdous aub5:onCQS Bnd/or doln mmtal onvlronmental condlllons }_~_'! ~PP!~l!~!J.! no'
.~.t1.nvlronm.nr.llnlpK1o' and lherolore might )0 unaWiHIJ 01 oXI~llnu hazardous substances anaJOr
aelrlmiintaTonVlronri-iinlai"con-diiions which may have a I lJoah\lu ellocl on !lllJ salely and valuo ollhO properly. II
Is pouible Ihallosls IInd inspoclions made by 11 Qunllllel~ m\lironnu'nlat 1n5p~C!l)r would rO\lonllho e~l61oncc 01
halardous nuUurlnts llnd/l)r dutwllel11nl cnVlrorlflHlnl., (Grllli!I':ll'. lJn or ,Hl;Uf\rl lho properly It)al would
nogah"oly afloct 115 saloty and \lalue
DRINKIN
WATER . '
_ Orll1klng Wall" IS lupplio., to Iho IllbJO<.:t IrOIl1 (1111\lnl',~ .Ii ""lltur ~(jH)ly IIiIh <.11 'J ,_on'ldurl'd ~li'U tto'l'lo~.r (1). only
wIY 10 t. IbIOlul!!l)' cortaln 01.1 the '1'1'.11." mool:s pul ,~lllJd ~lu:ldllrJ~ IS k tll!>!! .110'S10,", alllll d'lChlIFUO pOI nil
_ O,lnklngWller IS Ilupplied by. well or olher non.fllU! '(Iplll lourl:U III' roel)IIH!ltllldod Ihultullls bo mado 10 be
cer1.aln thll tho propo'ty Is Iluppliod With ItdOqljlll" ~HHO Wlltur
_ l.ad can oot Inlodrlnking wlStor from Us source, Ihe ~ 'pOI, 41811 <llschllrgtJ VOlnts. plumbing li.turos andlor ap-
pliances. The only wBy 10 bocortaln thaI wator doe'> rlOl conlll'" an IJnllccopt'lblo lead 10..01 is 10 hl1\1o It IOlllod
.t .11 diKhlrgo polnta
~ Th. nlu. IIUm.led In .,,11 'pplll..111 b.lltd 00 t!I' a..umpllon thai Ultre II an adequlte lupply 01 lal.,
lud-tr.. OrlnklnQ Watlr.
Comments ______________
SANITARV WA
~
_ Slnitar)' Waste Is rumo\lolJ Irom thu prOPOlly by II "HJnlt;lpal ~,uwtJr syslom
_ Sallllar)' Waulo is disposed or by IISOptlc system or o'tlur unltllry on 3110 wlulo dl5PO~Hll5ystom Tho only way
to dotormlne thai tho dl$polUll systum IS adequale oIno in gOOd working condition IS 10 ha\lo illtlspecled by (I
qualified Inspector.
-X.. Thl ",luI ..tlm.l~ In lttll .ppral..ll. b...d on th.. ...umptlon th.1 the SanltlrY Will. II dl.po..d 01 bV a
munklptl ..we' or an adequlte prop4trly pennlll! d all.rna'e Irutm.nl aYltem In good condlllon,
Commonts .__ _ ..__ m. _.
E DISPDSA~
SOI~ C NT
MINANTS
_ There .,e no ~p~~~ signs 0' Soil Contumlnanl5 011 Of nOBr ItlO SUOloct ~.HOPOlty (o:.copl as roportod in Com.
ments belOw). II is possiblo that rosoarch, Inspoetiol lIr1d loSlin'J by 11 quahflod on\l~ronmonlal1n5poctor would
reveal exllltlng and/or potonllol hllllirdou5 subsw':cos and/or dutrlmonl~ll tllwlronrtltlnllll condItion, on or
around tho proporty lhel wOuld negatl\fely aNect it, s.lluly and \llll'JC
--!.. The v,lu. .Itlmlled In thl. IppralUlI II bl..d on ih. "Iumpllon thlt the lubl.c1 property II Ir.. 01 Soli
Cont.mlnantl.
Commonts ____m_..____....______..
, ASBE
_ All or pilrtollholmpro\femen13 '1'1'010 conslructud be', 'll 19:'9 wr"lln A$bost'JS WlIS a common bUlldlf'lg material
The only waylo bQ CIJr1aln Ihatlho property IS 'roe 11 !rlllblo <Jll0 11on.fr,.lbIO A5bo:>los IS 10 11.1"0 It inspocted
end t"Ited by II quollllod asbe,tas i/l~peclor
_ Tho Impro\lement' welo conslructed altor 197!J Nl: Ilrp~r~!1_1 lrlaOlo A,bost01 'NilS obsorved (IJxcept as rIJ.
X por1ed in Commonl, below)
_ Th. Vllu. ..timlled In thll eppnl..r II b.led on tho lII.umpUon thai there II no uncontllned 1,llble Albellol
0' other hlllrdool "'Ibellol mll.rlet on the prol'orTV,
COmmenI5__.~__._. ____u___u
PCB. IPO~ VCHLOAI
ATED BIPHENVLSI
_ Thore we,. no '!EP..!!!!!!!!.loak.ing Ilouroscent hUht ba ,1'iIS, cnp.t.;t1ors or tr"n$lormors anywhero on or nearby
the property lexcept as repor1od In CommenL' bt' ,)w)
_ Thero was no ~,u"n! 'I111blo or docurnontod o"ldel .Ii knowll1<J Hl0 apprd<sor of sod or yroundwaler conlaml.
nallon Irom PCBs anywhero on the ploperly (axe">.;l 81 repurted In Comment'! bolow)
_~_. Thl "'llu. IItlmlled In lhl, Ippre'ul " biNd on tt 8 "Iumpllon Ihel th.,. ar, no uncon~rned PCB. on or
n."by Itl. property.
ComOlcnl~
..
_ The appraiser IS nolllwnro 0' any Aa,jon 10513 mlldl' ')11 !11e SUr'I,}...:t ~)flJp(lrf'1 wIlhlrl1ho p.1,l 12 monlhs (oJtcopl
as reported In Commenls bOlow)
_ Th, apprliser I!S nol aware 01 any Indlcalion Ihal II,,, I'Kltl \Y1l1'" 1uppllC$ havo boon 'ound 10 hllve ol.vQIOd
II\lels of Radon or Radium
_ Tho appraiser is not aworo of nn'y' nlJlHby proDorl., '. II)~copf H roportud III Comments bttlow) lhal were or
currenlly atl usod lor urllf'iun', IhOrlum or radii,,,: uJtlrilCllon or pho~phalo proceS51ng
-X- The ...alu. ..tlmlted In ttll, apprllul I, bl,ed on The a..umpllon Ihallh. Radon le~.tll II 0' below EPA
fecommendo9d 1''''1''.
Comment' _____,~___.._._.~____ __..____~_
,..IV"lIo"I,f'''"tfl
JIl/-lIJ...,111'1I!1
. ,,,,,,'. l ...""" , '''' I' ~ "',,,,".. .... ..... ".'.' ,-:~.~,., ft,j/I .'0'1 4....'
.1.""".'...."...'."allF.'" ,-,,,.,,,,,,11,,.',,,1,,,,.
".'" "I'.I'~
USh IUNDERGROU
m
STORAG~ TANKS)
.u Thoro 1:1 110 .'~PP.'~!:(J,!! ....Islblo ur lh,c\JrlllJl\ltHI uvld41' e,' kilt).....n to IIlIl approlsor 01 any USTII on tho proporty nor
any knOYlfl hll~IUlIt:,11 u~o ut (hu phJplltl) thlll .... ,;,1 I,~tlly tllt'w"I' 'Hid U5T5
___ ThuIO IUO no '!Pi"~.'-U,!_~pulr<JIU~Jlnl:ihH,IUO lItH)I!,)1 .J,'j'\UIY f,Il,1111"I~i (ull.IIJl.!IIlU \ljl~lJllnu llta'llJn~ or ChUnllCul
monull!,(;IUrlnU plant,) localooJ on UdJllCl.1n1 pHlp lr1wi (llllcopt lit> rllporhHJ In C"lnmQnl'$ bolow)
_ Thoro are nppa'''1I1 51gnlS 01 USTa t...lllIIJlU now or 11I11,lJ pll:'!l onlho wbJlu;1 propur')' II is rl.ltommont3ou Ihalan
lnlpoc;!lon by a quaUllod U$T InlSpuclor bo obtain I,; 1<) uulOfmlnu thO localloll 01 any U~Tis logolhe, with lhllr
cond:Uon Gnd propur ragisttnllon Ilthuy Br., nch\Q. allll II they lHiIInIlCllvo, to dotormlno wholhor Ihey wero
dOlctlvahuJ In accordanco wHh sOlJntJ Indul)\ry IJI,\c!ICOO
~ Th. velu. ..lIm'l~ In thlt appraIsal I, ba..d on !J,a .,.,umpUon tha'any functioning USh ar. not 1.'lllng and
ar. properly r~l.tored and thai any abandon'H! USTa art Iruo from contllmlna~on and w.,. properly
drained, nlled and ...Iad.
CommenlS
(iJ
___ Thoro I1ro nOiJpplJf~lltH,1lBtI1olJ~ W,lSlU Sill.)' on It '!,utJjl!C\ plf,~ll'fl'( rH ncurb'llho $ublCCI pro port) (ollcopl OS
ruportod III C~)nHllCllts tJclow) t 1,llilfduu~. W,1sh.! ,I:" :,I.'.lf\:tl III ,I I, ,IIIICd l'r1~" 'Jf',jJ',I!ntOlI CI"IJllll!Of may Ootor-
X "IU10 tlM\ Ihero 1:1 un~' ur lI10re H,llaf\lQu~ Wal,"J ,d'J'. Oil ';1 ,rl IIle iIf'JIl d Illu :,ullletl ~roport'l
_ Th. nlua ..tlmlled In Ihl. appr.lulla b..~ on th ~ lIuumpth:m thaltharo ara no Uuardoua W..ta 511.. on or
nearby thl IUbJI'Ct proprarty thai nagatlVlly In*,:t l.'1a vah,. or utoty 01 the property,
Comment" ___p________.___'m_____._
. NEARBY HAZAR
WAST SITes
UREA FORMALO H
[
... ___ All or part 01 tho il1lprO"'OJllOnt5 wmo COf1~lru,tc, t,,~I()/I! 1!)lJ, ...hl~n lJlWA h);llll InsulatllJn WIlS a common
bUlldmy fTli)lorUII Tho only ....lIy to 1m r.orlllllltl\ L\ :!., 1!I()P..'rl)' I', 111.'1) or UHI"A !urJnaldohydl) 1$lu 1111"'0 it
In,poclod by II quallllod UfH:.A lor/lHlldl.lhydo 11l',p'IdLJr
_ Tho Improvomont:J woro con,tructod afllJr 19132. r.o ~Pl?j)(!!..n.!. UHlA rormo.ldohydO muhmo.lo woro ob'or....ed
(except.' reported in Comments belOW).
-L The "alu. "Umated In Ihl. .ppr.I..II. baNd on tie ..aumpUon tha' tha,. II no Ilgnlflcanl UFFllnlulaUon or
other UREA lonnaldahydt mat.,lal on Iha proptln)',
Comments __
IUFFI) INSULA T ON
. LEA INT .
__~ All or part or tho impro...omonls wero construcl(' j boloro 1960 whon load PAml wus a common bUilding
matorllll ThorOlS Ill) itpPoIflJfll \I1~;ll.l11! or knuwn d ,( "JlII'IIlud O","II!Il1;l: or pcclin~J or Ilolkrnll Loau P,Hnt on tho
floor', walls or I:Olllngs (ollcopl as rcpOflcJ In CC."II 'l)J\I~, bo'Ow) Tho 0111'1 wily 10 bo corlllln thnllho proporty
Is heo 01 sur18co or lSub,urlace load Paint Is te h"...o It In,poclod by 8 qualrllod InIJpoctor.
_ The Improvoments woro con,lrucled altor 1900. No !!pE.!!!ont lead Paint was observed (ollceptas reported In
X Comments bolow).
_ The ".lue allUmaled In thla appralull. blled on the uaumpUon thlllh.,a I. no flllllng or plollltg Lead Pllnl
onlhe property.
Comments
.
AIR P
UTlON
___ ThlJro aro no apparonf 'iQn:i 01 Air Pollulion atlh ~ :,rnIJ 'JI tho In~,poclion nor wero ally roportod (excopt as
X roporlcd In CO;l-~ili~..~i.; bOlow) H,~' only way 10 L' '_'I1.LII1 lhul Ih) "'1':; 1100 01 [,oJliVIIl;fl ':; 10 ha...o II loslod
__ Tha valu. .aUmated In thla appralull. baMd 01 lho ..lump lion thllll tho property I. Iree QI Air Pollution,
Comments __~_______ ..____._____~~__
WETLANDSI
L 00 PLAINS
_._ _ Tho SltO doos no! contain .111'1 IIpp/lron' Wellaf1d~1i !<,;d Plalrl~ Ifj'UJpl as rep()rhl'J In C(,mmonts bol0W) Tho
ol1ly W,IY lo bn CfJll<1m Hl,lllh.~ ~"h! I'; fl'!'! 01 WI!!!. ,'II, <I)ll 1'1,1
rOIHllontal proIO~:;IOl1al
---X_ Th. nlue aatJmlla4ln thla appralulla baaod on lh<J auumptlon ltlat thare ar. no WeUand./Flood Plalnl on the
pt'~rty (excepl aa "port~ In Commantl balow).
Comments
'., 1<) l1;j~" ,I 11I~,pl.";1'1d liy il QlJilllllcd 1)11"'1-
MISCELLANEOUS EN RONMENTAL HAZARDS I
___ Thoro aro no OllHJr ,!PP~~~f}'}1 rn!~cullancou~. hollO' JIJII'; ~"b51.1I1Ul.i and/or dfJlnnlonlallln...lronmonlnl cond!.
tlons on or in the IIrea ollhe :Jrll} Cllcopt ItS md,;atl'.J I,olow
__ Excc:$s Noiso ___~~___._..
_ Radlallon + Electromagnotlc Radiation ._ ____
_ Ught Pollulion
_Waste Heat ___~___~_~__
_Acid Mlno Drainage _ ________.
_ Agrlr.ullura' Pollution
_ Oeologlcal Hlllllrds
_ Nearby H~8rdous Property ________
_ Infectious Medical WaGto, .__.__'__
_ Pesticides
_ Others (Chsmlcal Storago to StQrlloe Orunltl, Plpollnes, ote.)
x
_ T1te "alve llIIkn.1ed In "" .pp'II..llaINMd on It'Io auumpUon It'Ia' the,.lro no MtacaU.neotn envlronFn4fnlal
Huard. (l.oepllhoM rtport.ld lbova) "., would negaUvely anlC1 tha valu. uf !he pr~rty,
I
When any 0' m. .nvlr!)nmental a:i.umpUon. mad. In rhl. addendum
..,~ nor co_"K!. Ihe ..Urn. led va/uG In ~h!' .ppr~/..'_m.y n~~_b' v.ltd.
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. '<)1m. . 'NOI",., 11< Jl$ WllI'n~ ....,,!>u. ,... "...n. Gr 11M' I I ~24),"'145
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condItions rcquiSlht to a lair salo, !Ill} huyer J.110 sullor, u,ll:l1 i1CIIl1{} pfud~ Ily ~l1c....lu(jL),.'.J1Jly ;1I1(j J:';~UII'II\U il1l! pll!.:1! lti nol ilflul;ll.'d by uniJulJ
slimulu5 lmplicl In Ihl5 dUrllHUon IS the Ci,)nsummilllon 01 lJ sail! as 01 '~'I"~CIII')d {),lll: JniJ ttw passlllQ 01 hUe horn 5ulll11 10 buycr undijr
conditions vrhercby; (1) buvur Dnd sulllo'r afO Iyplcally moli~ah..d, (2) both' ',IIII4!S JIU 'o'ol'll HltOlrn~d or w~1I iJdYIr.cd, and cach IICllrla in wl)al he
considers his own bosllllturu:S1, (3} a rca50rlabl>J InllU IS illtowl.!d 101 U_PO' lie 11111111 op"Il/n,lI"t!!. (4) paymcnt I~ Illudl.' 111 hWI1S or us. dollars
or in lorms 01 tinoncialllrraflQcrI1l:lltli c.lJmpillilhlll thl.!ruIO, ,In(J (5) III' plll.1I rl'pIl;',I'I\t!i II II! 110/111;11 (UIHildl'liltlon lor thu prOptlfly sold
unllllecled by SptlCllll or croallYu Iil1a/lWl!) or salol, (al1(L'wonr.' urJnlud '/' ,1I1yCI\l: ,}",ll("',lll:d wllh Ihu !j.lle
"AdJU!Jln1enls 10 tho comparal>lus musl bo made tor (,I>Q,l;lI or Cl0311vO IlIdllClng or ~;,lluti COnCC:'itiIOnS, No udjUSlmenls Dru necossory 101
IhosO costs which Ilrll normallv paid by 60ltors 35 l1 rlll5ult or "al1ll1on 01 I,IW In 01 rnill~ul i1flla, Ihusu roMs DIU leadlly I(!cnllliablo sinco Iho
leller payrlthesl cosl in V1f1uolly all saJus transacllonlS Spccml or cre.1U" llir1.lnCln~ ill1lll:'ilnu!ntG (M bu modo 10 Iho comparablo proporly by
compl1ri$Ol1s 10 finanCing leflllS ollorod by a Hurd parly iMillhJtionil1 11:110 ,:r IlIill "j 111)/ ,llrl!H{Jy lIlyolYltd 1I1 Ihtt properly I)r transaclion. Any
adlultm.nl should nol bo calculQh:d on a muchanlCil! d(jllur lor dollnr V'.I or IIw 111\,111(11\1) 01 COr1CI.'!ls'on but Ihu dollar omounl 01 any
adju6lmunlshuuld appro_lmilttllhu millk!;!,,, ru.lr.llan to lIu! rOllolll[ll1~ 01 c II" ',fl<)Il:; [.01',1'<1 O!\ IJi,~ ,Wpl;II~;.)f S Judomunl.
CERTIFICATlON\NO STATEMENT OF LIMITING CONOITIONS
CERTIFICATION: Thu AWIJISUr C1!1111Il'S and i1~ICO$lhilt
1. The AppralSIU hilS no pru5cl11 01 contemplaled lull,rt) Inturutit In II<' plCplJI1y .lppr,115(!d. ,]Ill.! IlI!i1ll1!r IhlJ lilllployrnu/lt 10 rTlJku tho
appraisal, nor the compensation 101 It, IS contlng!!nt upon Ihl! Jpj,lralGoCl y, :Ul! ollhll pl(jpt]lty
2, The Appraisel has no p!!Isonal Intercslln 01 billS Wllh ruspoello the',I,lljl!ct IllJII!'1 01 lIw ilppr;1I5al repoll 01 Ihu particlpr.ll1lS 10 tho sBle.
Thll 'ESIlmalG of Milrklll Valuo" In 1he applillsill IcporllS not b.lsud \ ....1l01lJ 01 ill pilrl upon tl1u (iICO, color, or nalionul Origin 01 the
prospective owners or occupants olltll) propclly ilpprillscd, or upon lhe ',Hi.', ,olor 01 ndlio/lU! Qlt!}ln or tho pr~scl1l ownel' or occupants 01
Ihe properties In Ihe vlcnllly or lho properly appraised
3. The AppraIser has personalty Inspected the property. both Inside ill I Cd,!, ,lOll b,\~, ll1ildli i11l ulllllrior 1/l5pECIIOn or all comparable salus
listod in IhQ repor!' To Ihe bti51 ollho Approl!io(S knowluOQu and bullor, I 'jlall.!nWI1!', ,1Ild InrO,"I;1llon ulltllSIOport <lre 11U0 ilnd eOHccI, and
lhe Appraisal hilS nOI knOWingly Wllhhold any lillJllIhcantlnlormillian
4. All conlingonl and limiting conditions are conlalned htJrOln (impo:wd ~j~ IIle tcrm~, 01 thO' llS5,glUl1Cnt 01 by Illu undersigned allucting tho
anlll~'ses, opinion$, ilnd cOj)clusians containtld In tha repoll)
5. This oppraisnl ruport has been mado In conlomllty wllll and IS 51 DII:d 10 thl) !I'qUllcmenl!l or Ihe Coda 01 ProrossloMt Ethics and
Stnndards 01 Plolessiorrnl Conduct or tho appraisal orgilnlzations Wllh wl1 -.11 tlio Apprtw,er 15 alhilatcd,
6 All conclusions and opinions concernmij tho roal estate lhal are sat 'OIill in the ;Ippraisal rcpM werll prepared by tho APPIRIStU whose
signalure appears on the appraisal ropor!, unloss indicated as "Roview ,\pplaisel" No chango or any Item in Iho applilisallt.lport shalt bo
made by :tnyone othor Ihon Ihe Appraiser, and Ihe Appralsor shult hilve n ) rU5ponslbihly lor iJlly such unalhofllad c!lange,
CONTINGENT AND LIMITING CONDITIONS: Tho C"\III,,lIon 01 Ihe A 'p""SO' app'wHlG In 1110 app,,,,al '.po,t ,l subloctlo Iho IOllow,ng
conditions and 10 such othor SptlCilic and limiting condilions as mo sol rorl'\ b:; lha Appr,lIner In Ihl.) report.
1. The Appraiser assumes no responsibhty lor maUers 01 a legal natlJl'l ,1rrechng 11111 properly appraised or Ihl! tllle Ihert/to, flor doas lhe
Appraiser render any opinion as to the hila, wt.lch IS ilssumed 10 be pod and milrk(;'lable Tho property is appraised as lhough under
responSible ownership,
2, AnV skelch In Iho report may show ilpproltimalo dimenSions and IS inl iuded 10 aS51",1 tho 'uad!!r In YisuJlizlng Ihe property. Tho Appraiser
has made no survey ollhe property,
3. Tho Appraisar is not raqUlrod to !}iye IQslimony or appear in courl bt. :IU~;O 01 hWIII\<) Illildo 1111.1 apprtlisar wilh rolcreneo to the property in
question, unless anangemenls ha~u been preyiously made thereror.
4. Any dlslribution 01 the valuation in the repor1 bolween land and imprc'lemonl!} applltlLi only undfj( thu e~ISlting program 01 utilization. The
separato valuation lor IBOd and building musl not be uscd In conjuncllon v dh Jny othm a!>prair.al.1nd all; In'i<llid II so used
5. The Appraiser assumes thaI Ihore ale no hidden or unapparenl cor Jlllons 01 HII! propllf(Y, subsolt, or Slluctures, which would r!tnder il
more ",r less yaluoble Tho Appraoser Jssumus no rU5pof1Slbilily lor SUI (,~ndlllon~: (jf lor tlngltlc(:rino Wll1d1 mlQhl be luquircd to discover
such laclors,
6. Inlormlltlon, 8SUm.:lttls, and opllllons lur/ll5hlJd to lhe Apprtm;er, JI I cont,linl.:rJ In IIle leport, WUIU ObtJU1Ud 110m 50urt;OS consldorcd
reliablellnd beheved 10 be Irue and correct. Howoycr, no ICsponslbillly 'il .I,curacy ut such Ilelll:) lurnlshed ihc Appraiser call be i1ssumud
by Ihe Appra"er.
7. DIsclosure or Ihe contenls of tile apprJlsal reporl is DQyerned by !Ill' f"JyIJI'fS and 1l!!Q()lnhOWi 01 Iht) prOl115Sionalappraisnl organizattons
wilh which the Appraiser is atllhatcd.
6. Neither all, nor any part ot thf! conhmt 01 tl10 repor1, or copy Ihele,' liI\CludlnQ (I)n(hj~>IUIl5 115 to II1U PIOPI!rly lIilluq, Ihu identlly /;llthu
Appralsor, prolossional deaignations. relerence 10 <lny prah!5510nal appr.l ;,11 OflJo11lIZ,III{JI\5, or lilt! tllll1 1'0'1111 which the Appraiser IS connected),
shall be used ror any purposes by anyone but the client spUCl1ied m the t!ptlll. lho bllllower II ilppr,115ill luu pmd by same, the mOltgngee or
ils successors and assigns, mortgagll Insurers, consuilanrs, prolesslOP <lppr;IIS,ll olgl1lll'-:JlioI15. any stalo or federally approyed linonclal
inS!ilulion, any department, agency, or instrumentality 011hlJ Unl\~d Slall' 01 ilny ~t,II" or Itw Di5111ct 01 Columblil, wllllOullha pre~iou5 written
consent 01 ttu;, Appraiser: nor Shill I II bo conYiyod by anyone talhe pul;: ; It\lou{lh ,lil'il:rW;ll1g. publiC fldillions, nl.'Ws. sales, or olher media,
wilhoul the wrillen consenl and approval or Ihl1 Appraiser
9. On all apprJiSals, subject to satislactory complollon, repairs. or altaI.; .t)I'i.1I10 ,lpprdlsal reporl ,lI1d IIJhm conclUSion aru contingent upon
completion ollhe improv!lmanlS in ,] workmanlike milnner
ENVIRONMENTAl,. DISCLAIMER: Thl ~aluu t15hl11i1IIJlJ o~ bastld (jlllhtl ,1!>5Wllpl '11 11101111\0 pll'IJI!I\~ I'j nOllllHJoIIi'll.lly ,ll!uCII;d bv lhu ijloMurll:11 at h,ll.l/dou!
sub5111ncas 01 dUlmntlnIJlllllvl/Olll11tll\!ill comlilUln5 LJI1I11% OIht!IWlf'll 51,11I.'tI ,11: "lupOlI II" ,lppr,lI!illr ,r, 1\01 ,Ill 1).PUlllll Ihll Idlln\ltlt,lrlon 01 hillilldou~
5ubatuncull or dalfllllunllll t1n~uonmonl(J1 cond'tlO!1s, Tho ilppldl3lJ1'S routlno ,I' IWcho(1 al .111\1 II1QIJllIlJ'; ,lhOul 1t111 sulllU~1 propully did not duyulop any
inlormalion lhalllldicatsd ilny apPolell1 slglll!lcllnl h,lZardou5 oubstal\CiS or dUj, "\'nli.lllln~1I01Ill\lJn!,11 Condlllan6 ",hlCil would ollftlcllhQ propnrly neQall~1I1~
unJ05S 0lherwlll8 slDlod In Ihl! fepon n 15 P05l1lb1lf Ihul losls ,1nd Il1lipoclIons I ',I<JiJ b~ ,1 Qlldliliud hllzardOtlll suhstilllce Jnd oI1Y11(lnm0I11nlll~port would
r,v'!lllho '~lllloncU 01 halaldous !ubs1ilncus or dfJ!wnenlill enVUOnmllrllllJ cond,1 f)fl'l on or Jrolll1d Ihll P!OPI!lty lhllll'Vould nogllrl~lIly ;JllocI Its ~illult
ADDITIONAL CERTI'ICATtON: Tlllt ,IPPfill~tJf Iwlhlll cllrhlh~!\ IIM1
I. ThiS llppl.lllllll contorms to Ihu UI1{Io/m Slandmd!; ot PIOhl%IOno1l Appr;llii,lll I,IIW (.lJ~,I"'P") .1111)Ph~d hV Ihl! Appr,lI~lill SI,ll1rlilrdl; I)onrd 01 \llll
Apprllilllll Foundllllon. a_cupl th,llllltl Oop,ulurll PIOW"Qn olllur U~P^I) doos !HI"I.ply
2 Thulr compenllatior\lll nol con!illUl/lll Jponlhu !llpOlIiI'g 01 J plulluhtllnll1ttd, i1t111 or {jlllj',I,,;(l11l ~,llulllh.JII,IV~'1lhu CilUli'. 01 Ihi! CIIUI\I, Ihu 111l10unl 01
lh8 IIlIlullllllmlll., tho altilllllnQnl 01 a Sllpulnlud 18SIIIl, or file OCCUrfe11C1! or a !llIl 'd!qllenl e~I!I'I,/ .
3, Thil 3ppral!~al3nll1nmllnl '1111:\ not t)llBOO Oil II rl/qullshJd 11111l11T1Um ~illuiltlO(l1 ~ptI~"IC ~,lltldllorl, QI 1I1If;lPl-lro~;\11J1 illollll
Dale
s:--
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lI"t"g~lof"."~I,"c...U<lI, "'"r'I'~'I"I,{j.n" II.)!
.:7lus.b.erman 7Jros.
REAL ESTATE INC.
229 N. 2nd Street · Chnmborsburg, PA 17201
717-264-6715 . FAXII 717-264-4973
QUALIFICATIONS OF TIM L. AUSHERMAN
Hom..
'Irml
Appr.,..I.
'nv..lm.nla
Coun..Ung
since 1970, Tim L. Ausherman has been engaged in general
real estate practice. lie is experienced in tt:e sale,
management, and appraisal of real estate. He obtained his
Pennsylvania State Gencral Real Estate Appraiser
Certification in 1991.
The fOllowing represents a partial list of appraisal clients
serviced by Mr. Ausherman:
-Lomas and Nettleton Mtg Co
-1st Natl Bank of Greencastle
-Unitas National Bank
-1st Federal Savings & Loan
-Letterkenny Federal Credit Union
-Bell Telephone of PA
-Agway Petroleum Corp.
-Associate Relocation
-United Telephone Credit Union
-Commercial Credit Savings & Loan
-Farmers Home Administration (FmHA)
-Commercial Credit Savings & Loan
-D",[oll:;o A<.;ti v i ties !,'ederal Crecti t Union
-FHA Certified Fee Appraiser (Certification
-commonwealthMtg Co
-Dauphin Deposit Bank
-Orrstown Bank.
-Mellon Bank
-PHH Homequit~
-Lenders Serv~ce,Inc.
-Security Pacific
-Record Data, Inc.
-US Mortgage Co..
-Attorneys .
-Various Individuals
No. 2210)
.
EARNED DESIGNATIONS
G.R.I. - Graduate of Pennsylvania Realtors Institute, 1972
C.R.S. - Certified Residential Specialist, 1979
C.R.E.A. - Certified Real Estate Appraiser, 1989
EDUCATIONAL COURSES
-Residential Real Estate Appraisal #1, Pennsylvania State
University
-Real Estate Right-of-Way course, Pennsylvania State
University
-Introduction to Appraisal of Real Estate, Society of Real
Estate Appraisers at Purdue University, LaFayette, IN
February 3-14, 1975
-Introduction to Commercial and Investment Real Estate,
Memphis, TN
-Art of Real Estate Counseling, Orlando, FL, November 1975
EDUCATIONAL COURSES CONTINUED
-Guaranteed Sales Plan, Orlando, FL April 1977
-Personal Estate Planning, Louisville, KY March ~981
EDUCATIONAL COURSES CONTINUED
-Guaranteed Sales Plan, orlando, FL April 1977
-Personal Estate Planning, Louisville, KY March 1981
-Commercial Appraisal Course, Lincoln Graduate center,
Washington, DC, November 1988
-Advanced Real Estate Appraisals, Real Estate Institute, New
Cumberland, PA, December 1988
-Applied Residential Property Valuation, Course 102, Society
of Real Estate Appraisers, Spartansburg,SC March 6-1J, 1989
-Marshall Swift Calculation seminar for Commercial
Properties, Philadelphia, PA April 17, 1989
-Market Extraction Seminar, Society Real Estate Appraisers,
Harrisburg, PA May 18, 1990
-Small Residential Income Property Report Seminar, Fannia
Mae 1025 by Henry Harrison, ROcKville, MD June 26, 1990
-Uniform standards of Professional Appraisal Practice,
National Association of Independent Fee Appraisers,
Cumberland, MD September 17 & 18, 1990
-Appraisal of Residential Property, Institute of Real Estate
studies, New Cumberland, PA February 1991
-Condemnation Appraising, National Association of
Independent Fee Appraisers, April 24-25, 1992
.'PHH Homequity Seminar, Atlantic city, NJ June 1992
-Courses offered by Realtors National Marketing Institute
-Various one day seminars through Housing Urban Development
(HUD)
-3.1 Principles of Farm, Ranch & Rural Appraisal Course,
Millville, NJ October 28-31, 1992
-3.2 Advanced Farm, Ranch & Rural Appraising, Millville, NJ
February 10-13, 1993
PROFESSIONAL AFFILIATIONS
-Member of Realtors Marketing Institute
-Member of National and State Association of Realtors
-Member of Franklin county Board of Realtors
-Pennsylvania Broker, License No. RM-026544-B
-Pennsylvania General Appraiser Certification No.GA-000149-L
-Past President of Franklin County Board of Realtors
-Senior Member of National Association Review Appraisers
-Past President of Greater Chambers burg Area Multi-List
Association
-Member of Pennsylvania council of Real Estate Appraisers
-Member of National Association of Realtors, Real Estate
Appraisal section
rl.'~U'1l AI!....t ~. ,.r ~.." ('''J''l) j ,."" ,,,.I .~"." ","1.11 IIIJ~
IB
IlfALTOR'
,71usher,nan 7Jros.
REAL ESTATE INC.
229 N. 2nd Street 0 Chambersburg. PA 17201.1641
717.264-67150 FAXH 717-264.4973
Federal Tax 1125 - 1552766
PA Ce,tlIled end
Llcenlld R..I
Elllto Approl.."
December 9, 1996
Hr. Forrest Hyers
10000 Holly Pitcher Highway
Shippensburg, PA 17257
RE: Hub city Club
44 South Earl Street
Shippensburg, PA 17257
Dear Hr. Hyers:
Pursuant to your request, I have re-inspected the above
referenced property on November 22. 1996. I appraised the
property on August 20, 1993, for Hub City Club, at that time
the appraised value was $47,600. It is my opinion and
considering the condition of the sUbject property, the value
has not changed since that report. 'rhe following sales
assisted me in coming to this conclusion:
239 East King street, Shippensburg: 4 unit building, vacant
at time of sale. The property is in need of extensive
renovation. Sold for $47,900 on September 3, 1996.
40 Federal Street, Chambersburg: Duplex sold for $38,000 on
August 26, 1996. The property is in poor condition.
125 East Queen street, Chambcrsburg: 3 unit buildinq,
vacant at time of sale. The property is in fair condieion.
Sold for $36,000 on May 31, 1996.
This letter is considered to be an addendum or update to the
original appraisal report completed on August 20, 1993. The
subject property was conveyed to the Borough of Shippensburg
by the Hub City Club on August 9. 1994, and recorded in
Cumberland County Deed Book Volume 110, Page 600. A copy of
the deed is enclosed with this lettor. Should you have any
qUestio~ ~ase do noe hesitate to give me a call.
Since~
~Et (~~herman-
FA certified General
Real Estate Appraiser
certification #GA-000149-L
TLA/cjb
S
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)
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.....~...._.._._..~_.._--_.:.....~
PHOTOGRAPH ADDENDUM
BOIIOWII I'OZ'I'..t Ny.r~. ___.. _,__.
P'o" Add".. .. South I:a..l Sl;..!!...l;_________.
!!!L. Shippenabu..q __~_~u_n~_~umI:led~_nd.__
lendOl Firat National Bank of Mercersbur
SIOI. P" __._______--1!P. Cod. 17257
FRONT OF
SUBJECT PROPERTY
REAR OF
SUBJECT PROPERTY
STREET SCENE
'",Me"M." 1"1'~~'1 ~UII \"I" 1",1, 1~4 ~.II'
PHOTOGRAPH ADDENDUM
Bor,o... I'oa:a:.at ~~a:._______ _.__ .___.
P,o Add,... U South l:aa:l__~_J:~!~_______ n ..__
CI Shi nabua:q CounL.9.~.J:_~n(t__._
LInd" Fia:at National Bank of Narcarlbu"
~"..-
i'\l.
--
. _ iil'!' Pa
.l1II/IIIlfllft"DlII,,"lIlIlrIIIlII1l11 U~ "15
II CadI 17257
BRICK BUILDING IN
REAR OF PROPERTY
to'd
#.
Wd0~I~t 966t-t~-tt
. .
:;?CSj \ ~ - ~ ~ '-..d__a,... 11..&11.
THIS DEED
...
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MADE thla .-iIIL day 01 AUGUST In the year nineteen hundred and nlnety.lour 11994).
BETWEEN HUB CITY CLUB, a corporation duly organized and existing under the lewa 01 the
Commonwealth 01 Pennaylvenia, with its principal olliee and place 01 bll$inll$s 81 40 South Earl Stlllel,
in the Borough 01 Shippensburg, Cumberland County, Pennsylvania, Grantor,
AND The BOROUGH of SHIPP ENS BURG, a Pennsylvania Municipality with olllcus located It 80 Wilt
Burd Strest. Shlppensburg, Cumberllnd County, Pennsylvania, Grantee.
WITNESSETH thaI in considarltion of the sum alONE DOLLAR (.'.001, in hind plid, tha raulpl
whereol is hereby leknawledgad, the seid Grantor does grant and convey in fee simple to Slid Grantea,
its heirs and assigns,
ALL that certain messuege or tenomant situato in the Borough of Shippensburg, County 01 Cumberland
Ind Commonwealth 01 Pannsylvania, and bounded and limited as lollows:
en
.....
N.
....
e::
0-
ON the Eest by South Earl Street; on the South by lot now or lormerly 01 Glenn J.
Bigler; on the West by an elley known as Seneca Street, and on the North by lot
lormerly 01 Mrs. C.C. Stumbaugh and now or lonnerly of the Hub City Club, containing
31 f.et 8 inches in front on Earl Street and continuing at that width to a dapth 01 46
leet and thence et a width 01 32 feet 2 inches to the alley on ttlt West, the entlra
depth 01 the lot being 257 leel 4 inches, having IlBeted ther.on e two end one.half
story brick dwelling house known as 44 and 44 1/2 South Earl Street and other
improvements.
.~
:S.
a:.
or
en
.
BEING THE SAME REAL ESTATE WHICH J. MONROE WYRICK and MARY E. WYRICK by deed dltld
July 31. 1970 end recorded In the office of the Recorder of Duds In and for Cumb.rllnd County,
Pennaylvlnla,In Deed Book "T", Volume 23, Pege 169, granted and conveyed to tha HUB CITY CLU6.
GrlnlOrl harein.
TOGETHER WITH the right. of. way In common with the owners 01 the land immedietely adjoining on
the North elong Ind over a right. 01. way three (3) feet in width commencing et Elrl Slreet Ind
utending Oyel the seid Idjoining land to a depth 01 forty.six 1481 feet elong tho North line ollhe
property hereby convayed.
800K 110 PACE 600
E;XfiIBIT "A"
..
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.
TABLE OF CONTENTS
TITLE
TABLE OF CONTENTS
LETTER OF TRANSMITTAL
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS
ADDENDA
PICTURES OF SUBJECT PROPERTY
PR.OPERTY LOCATION MAP
BUILDING SKETCH
FLOOD MAP
REMODELING ESTIMATES
LEGAL DESCRIPTION
MULTI-PURPOSE APPRAISAL ADDENDUM
ENVIRONMENTAL ADDENDUM
ASSUMPTIONS AND LIMITING CONDITIONS
QUALIFICATION OF APPRAISER
.
.
PURPOSE
IDENTIFICATION OF PROPERTY
HISTORICAL DATA
ZONING
ASSESSMENT AND TAXES
AREA DATA
NEIGHBORHOOD DATA
DESCRIPTION OF SITE
DESCRIPTION OF IMPROVEMENTS
HIGHEST AND BEST USE
METHOD OF EVALUATION
SALES COMPARISON APPROACH
COMMENTS ON SALES COMPARISON DATA
INCOME APPROACH TO VALUE
RECONCILIATION AND FINAL ESTIMATE
CERTIFICATION
1
1
2
2
2
2
4
4
5
6
7
8
12
13
16
17
..
..
PURPOSE OF THE APPRAISAL
The purpose of the appraisal is to estimate the market value
of 44 South Earl Street, Shippensburg for the Hub city Club.
Reference should be made to the attached deeds and addendums
of this report.
Market value - the most probable price in terms of money
which a property should bring in competitive and open market
under all conditions requisite to a fair sale, the buyer and
seller I each acting prudently, knowledgeably and assuming
the price is not affected by undue stimulus.
Implicit in this definition is the consummation of a sales
as of a specified date and the passing of title from seller
to buyer under conditions whereby:
1. buyer and seller are typically motivated.
2. both parties are well informed or well advised, and each
acting in what they consider their own best interest.
J. a reasonable time is allowed for exposure in the open
market.
4. payment 1s made in cash or its equivalent.
5. financing, if any, is on terms generally available in
the community at the specified date and typical for the
property type in its locale.
6. the price represents a normal consideration for the
property sold unaffected by special financing amounts
and/or terms, services, fees, costs, or credits incurred
in the transaction.
IDENTIFICATION OF THE PROPERTY
The subject property is identified as 44 South Earl street,
Shippensburg, more fully described in Cumberland County Deed
Book Volume T23 Page 159.
.
.
.
.
.
HISTORICAL DATA
The subject property was purchased by HUB City Club on July
31, 1970 for a purchase price of $25,000 more fully
described in the attached legal description.
ZONING
The subj ect property is located in a commercial zone. A
copy of the zoning regulations is made a part of the
addendum of this report.
ASSESSMENT AND TAXES
Land $ 880
Improvements $7110
Total $7990
Total real estate taxes are estimated to be $1456 per year.
AREA DATA
Two of Shippensburg's many attributes are its central
location and small-town, but growing atmosphere.
Shippensburg is physically located in the south central
corner of the Cumberland Valley region of Pennsylvania. The
neighboring towns/cities are Chambersburg to the south,
Carlisle, Harrisburg to the north and Philadelphia,
Pittsburgh regions to the east and west. It's location is
also enhanced by the fact that it is situated within two
counties. Franklin county is a small rural area of farming
and businesses. Cumberland County has more of a "big city"
atmosphere. However, the character traits of the population
which was 5,246 in 1989, are influenced more by the
Chamborsburg, Franklin County area rather than the Carli~lo,
Page - 2
~
Cumberland County region. The :;outh central location and
its proximity to major cities offer:; a wide variety of
choices to the people living and working the community.
Shippensburg is also the home of Shippensburg University I a
large mUlti-structure, higher-education institution with
approximately 6,500 students.
Shippensburg is located near the hub of interstate highways,
Pennsylvania Turnpike, state and federal highways.
Interstate 81 running north/south is about one mile east of
the town with two easy on/off exits. 'rhe main street in
Shippensburg, King Street is US Houte 11 / which parallels
Interstate 81. The Pennsylvania Turnpike is a distance of
approximately nine miles. Interstate 70/ running east/west
and paralleling US Route 40 flows through Hagerstown,
Maryland, a distance to the south of 45 miles.
The area has access to rail, air freight and trucking
terminals. Harrisburg International Airport is JB miles
from subject while Washington County Regional Airport is 45
miles. Both provide air parcel und cargo sorvice to major
airports. Shippensburg, itself has four trucking firms with
major terminals located in Sh ippensburg / Greencastle,
Chambersburg, Carlisle and Hagerstown; wi.th 15-45 minutes
driving time. Rail transportations is serviced by ConRail
and the Western Maryland Railway Co (CSX) with freight
offices just outside Chambersburg. One-third of the major
US markets in the Northeast, Midwest and South can be
reached within one-to-two days travel time using. the
Page - J
. .
trucking industries available or the rail network systems.
Major markets include: Pittsburgh 160 miles; New '{ork 210
miles; Philadelphia 130 mile~; Baltimore 84 miles;
Washington, D.C. 102 miles; and Detroit 480 miles.
The immediate area has a diversified terrain with topography
ranging from level and gently ro 11 in') to steeply sloping
mountains. The varied terrain huu provided a mainstay for
agriculture as well was/ induutria1 and manufacturing
opportunities. Major employers include: The Beistle Co.
(ManUfacturer of paper productfl) / Ingersoll Rand (road
machinery), Hoffman Mills (fabric~), SKF Industries
(bearings), Shippenaburg Area School District, and
Shippensburg University. Letterkenny Army Depot, located in
Chambersburg, is the largest single employer for the entire
region. The army installation covoring nearly 20,000 acres
employs approximately 4/000 civilian workers.
Generally speaking, the economy of the area, because of its
wide array of industries, coupled with the agricultural
base, has been stable during the past decade.
NEIGHBORHOOD D~T~
The subject property is located in downtown Shippensburg.
The area is a mix of multi-family buildings, commercial
establishments and single family homes. The topography of
the neighborhood is generally level.
DESCRIPTION or THE SITE
The subject property consists of a rectangular size having a
frontage of approximately 32 feet along south Earl Street
Page - 4
and a depth of 257 feet to an alley known as Seneca street
in the rear. The site is in grass and has a brick building
at the end of the property site. It i:; joined by a party
wall on the south side of the bui lding. The lot is level
and is located in Flood Zone A of the flood plain as per
Community Panel #420368001A D~ted March 15, 1979.
DESCRIPTION OF IMPROVEMENTS
Improvements consists of a three story apartment building
which was originally six apartMents. For the purpose of the
appraisal and to arrive at the value, the appraiser
considered the property as improved potential and then
deducted the cost of improvements as per the attached
estimate within the report. The apartments on the third
floor were condemned and cannot be habitable due to ceiling
height. First floor consists of two four room apartments
with bath. The second floor consists of two four room
apartments and bath. These could be Llsed as two bedroom
apartments, however / floor plan is functionally not
desirable as passage goes through one bedroom to the other.
The cost estimates show four heating units to be installed
and new electrical services. The current condition of the
property is not habitable. Details on the repair estimates
are included wi thin the report. 'rota 1 squilre footage for
the building containing first and second floors would be
approximately 2745 square feet. The basement is fully
concreted, stone foundation and has evidence of dampness in
the basement. :
Page - 5
~
HIGHEST AND B.ST USE
Highest and best use is that re::lsonable and probabla use
that will support the highest present value, as defined, as
reasonable probable, a legal use of the land, physically
possible and economically feasible. The analyses addresses
the land, 1), as if vacant and available for development and
2), as presently improved.
Implied in this definition is that the determination of
highest and best use takes into account the contribution of
a specific use to the community and community development
goals as well as the benefits of that use to individual
property owners. Hence, in certain ';ituations, the highest
and best use of land may be for parks, greenbelts,
preservation, conservation, wildlife habitants and the like.
The four primary areas of ev<! tuation used to estimate the
highest and best use for a property, as though unimproved
and ready for development are as follows:
A. All possible uses which are physically possible for the
site in question.
B. Its permissible (legal) use or those uses which are
permitted by zoning and deed restrictions of the site in
questions.
C. Its feasible use of those possible and permissible uses
which will produce the highest net return to the owner of
the site under current or projected market conditions.
D. That use among the alternative possible, permissible and
feasible uses that will produce the highest net returns or
present worth to the owner.
After reviewina the DroDertv I have determined the hiahest
and best use would be for an &Dartment buildinq.
,
Page - 6
. .
KBTHOD OP mVALuATtON
In evaluating the subject property, consideration was given
to all three approaches (Sales Comparison, Cost and Income)
in arriving at the final estimate of value. From my
analysis of the property and considerlng the purpose of the
appraisal, I have concluded the Sales Comparison Approach
most applicable which indicates what buyers are paying in
the market for like properties. A direct capitalization
rate was established for comparable sales. Cost Approach
was not utilized due to the age and condition of the
improvements. Income Approach shows projected income and
expenses for the property and capitalizing potential income
tor the improvements.
I
,
Page - 7
COMMENTS ON SALES COMPARISON DAT~
All three comparable sales are investment properties that
have recently sold. Comparable #1 would be most similar to
the subject property as improved. I t is located downtown
approximately two blocks from the sUbject property.
Comparable 12 is an up/down duplex and Comparable #3 is a
duplex. The capitalization rate is net income divided by
the sales price. To compute this for the subject property,
the projected net income would be 8778 or 8468 without the
brick building. The income capitalized at 9.5% indicated a
value as improved at $102,926 including the brick building
and $89,136 without the brick building. Minus the
improvements aa indicated in the addendum of this report
that are needed to bring the building in average condition,
would indicate a value of $47,600 wi tn the brick building
and $33,800 without the brick building.
.'
Page - 12
OPERATING INCOME STATEMENT
proj ected Gross Income
1st floor apartment $325
1st floor apartment $325
2nd floor apartment $300
2nd floor apartment $300
Rear Brick Building .u.u
$1375
Total projected gross annual income $16,500
Less vacancy and credit loss 5%
Effective Gross Income
Less Expenses:
Taxes $ 1,456
Insurance $ 600
util i ties $ 950
Maintenance Repair $ 750
Management 6% $ 941
Replacement Reserves$ 1.200
Total Expenses
Replacement Reserves$ 5,897
Effective Gross Income
Less Expenses Replacement Reserves
Net Income with Brick Building
Net Income without Brick Building
Fage - 14
1.. 825
$15,675
$15,675
$ 5.987
$ 9,778
$ 8,468
CI!IRTIJ'ICATION
I, th~ undersigned, certify that, to the best of my
knowledge and belief:
The statements of fact contained in this report are true
and correct.
The reported analyses, opinions, and conclusions are
limited only by the reported ansumptions and limiting
conditions, and are my personal, unbiased professional
analyses, opinions, and conclusions.
I have no present or prospective interest
property that is the subject of this report, and I
personal interest or bias with respect to the
involved.
in the
have no
parties
Real
My compensation is not contingent upon the reporting of a
predatermined value or direction in valulI! that favors the
cause of the client, the amount of the value estimate, the
attainment of a stipulated resul t, or the occurrence of a
subsequent event.
My analyses, opinions, and conclusions were developed,
and this report has been prepared, in conformity with the
Uniform standards of Professional Appraisal Practice.
I
, I
,-
!
i
I
I have made a personal inspection of the property that is
the subject of this report.
No one provided significant prOfessional assistance to
the person signing this report.
In my opinion from an analyses of all data, the estimate
value is FORTY-SEVEN THOUSAND SIX HUNDRED ($47,600) DOLLARS
or without the brick building THIRTY-THREE THOUSAND EIGHT
HUNDRED ($33,8
00) DOLLARS.
//)/~
i~sherman
~~C~~t~~ied General
Estate Appraiser
Certification Number
GA-000149-L
"
Page - 17
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COmmcnls n_.._____
:IIJI.I{II.'U" t~W",'U:
- Thoro 1r0 no t1BEtlrof}!. Sll.lfl3 tjl 50li CUnln't1lnurll~1 nr \II I1lJur Ir,o ~l<LI'" r pr'lfHJf: I 1!l.(O~III~ rop<.Jtlod If"I COII\'
"Tlonts bolow/, illS P<J$Slblo thaI fOHJlIfCfl. II1:lPlJcl,u/ 1I1l,! 10~1If1\,l1,)~" . 'lli,I,ud ' "..r 'Jf\II,,,r'I.JI ,r,~.po~lor ....0,,111
ro....al OltJ5ting and/or l>ulonliul I <ilUfdou) sut;)tu, Cos lind/or \111'" , 1l!',lill t:, . II';H:IlIIlI,T,jl ~'ln,l.II(Jn.$ on or
oround tho pfoporty lhal would nlJUilll\'oly l1flol;! II:, 50/01, and "01,,,.
~ Th. ..Iu. ..lIm',.d 'n Ihl. 'pp"I..II. _",d on Ih. Ulumllllon ",,' "" ,,,,,/.,, p,op"" I. ".. 0' 5011
Conl.mlnlnll.
Commonll______._____..___ __'__._
'l:j:I:f;il.}.
- All or ~111 0'1110 Impro"omOlll'\ Wef<l conSlrucllHJ lluf,lro llJnJ whon 1..,t,,",I"1 Wt! .1 ':'<.JIf1I11U!\ bUII(J,/~'J malorll\1
Tho only wly 10 bo cOrl,lIn thllt tho PfOporty 1$ Ifilt) ,jf fr'ijt;lo and nl' ,I))IU j, ,:,l)'il<.l~; I~ l<.lll,....o 11111.5POClad
IInd lesled by II qUlll!lIad asbo51o~ InspoClor
- Tho impro....omonts WOto con.)truCIl:\1 attor 19/~ Nc tyJ.P~!!!!2.~ 'flUblq /. ,b051V'l .....1$ Ot.r~or~ud (O..COpl as ro.
X por1od In Common I' bOlow)
- Th. ".Iue elUm.led In tf111 'pprelull. b'lit'd on the "llImpUon th..lhor.,. no IJnconlaln.d trl.bl, Aablllo.
01' othlr hUI,d04J. Aab...lol malofla' on the prororty.
Commonts
---.-------.----------.
:.l1(:rwl:lII"'lel~ f.:.'. ~'.:II:J:I ~a i ~;1
- TherJ w.,. no ~p.E!!.~~~! leaking II'Jl..f05COnl 11'Jllt b,l 1.1'1', CJPJI:'!<JI', '.',1' .,', I:'~, 011." ....-".l; (;l\ 0r nUMby
lho prol)Orty (O~CflPtIU rOj.Jorlod "1 Common!:. t.H) <.Jw)
-- Therewa'flO~f?E~_!....ISlbIO ordocufI10nhJd Ch'ldll/.,:o kn.:.wn 10 11'10 iI. ',1"")1,,' ,'i.1 "I 'oi'G,W,:w..IIJI conlallll.
nollon trom PCDs an'1wrllJro on Ihu property \O~c('pl os luporlod 1.". ,";II:rr,'J' ", tJl)lu...)
~ Th. "'uo ""m.,.. In "'I. .pp"I..II. b.... on "'. .""mpllon "" ,h,,, "" no u'~on'''n,d PCD, on or
n..,by U'ft property
COITlOlenlS __.___._._
:, )jd 'l~
-- Tho apprlllsar IS nol'wolo 01 ony RJ,JOIl losL, rl1t1olt' 'Jf\ !I,I) ~Lj~)IIJ':! P' ,"'t,,,,'!1
IU roporll1dln COIl'1fT:onlS bul.)w}
-- Tho .PPllls,r II nol.sworo 01 8ny ,,, 1,,;0110n 11'\,1t 11'." 1',\;011 ....\lU/ 'J")_'i
1......lS 01 Aa<Jon or Rodlum
- Tho IppralSor IS nOlllw"ro "I ony nUilrby proporllf.'1 (O~copl MI for,.,'lt-dlll C(", flll)nl1 tll:u'N] Ih.ll woro or
currlntly .r. u,ed lor urilnll'm, IhGfllnn or radium OtlfolLllon 'Jr lJl ')"I,h.l!u 1J""")~'lnU
-X- The Yllu. elllmtltd In !hI. ePPlllull. b..ltd on the '..umpllon 1/111 the ".<J1)11 10"'01 I, III or bolow EPA
,.-c:ommlndltd IIUI.,
COmmonl5 ___._____.___ ___,__ __..___..____
','It' ;,.1',1 1;' 1\1i,)I'th~ (O~c.cpl
',r'.I"1 I ",),-, l,julhl hi 11"..e oIO"'i1!ud
"ltV""_k'WIUfl
lAMJ..,I""lIIl
---~--'-
I '~"n.. W~"n. ,,,,- )15 Wh'lnl, A'ln,. ,... """n C' Oil" ,~"'~.. ~....'
..."".,.. .-'....,...on E"." ,,,"'.',,,, II... ''~.1011l''
"1'''',I!tQ!4
USTs IUNDERGRDU
SIDRAGE TA KSJ
- rh,re II no ~PP"'~!!!vl,jbr. or dO<lJrlIOnh'U lI~il.lOr ell 11110.....1110 Iho 1I1'llfftlUH ,.~ .11\1 lJ:il, Ill' IllQ pfUjJllrty rlQr
OilY ~110""'11 hl~Ir.J'ICIIIIJ:<U ul lhu pfl.JpUrly Ihul ....".,I,J 111101)' 1111....11 "<1.: Wir~
-- ThUfO "fO 110 ItPI1,.'!!.!..'!.I.HllfUhJull1 JIO"I\J1J ItlhJllJr .J,dl\lOfy lollo:i1,lllJ'. ,. ,I\ll""!, \';.1~01"1.. ~loll'UIl:; (,r .;l1url1lCIII
m.anlJlaclLmng planll' IOCialud or~ lI,Uja":Qtll pft.;p-til till (U.l.Copl 0:> ll'I_,,HlutJ II, C';lnnllJl1l) tHllowl
- Th"o .r,.pp.'f)nt .Iijnm 01 USh U,lI:111l1ij no..... or III I/'o jlBIlIQn 11'10 tal/I'lltel ~rOIHHly 11.1 rucornmonuo(j Ihat on
Inllpoclfon by . qUllllhld U5T InllPfJClor bu oblaln hJ 10 lJtlormlf1Q HHI IOCllllon LA oily US h II,)l,jQlhOr wllh Ih,lr
coodlllan Ind prop" ,0011',0Ilen II I"'Y.II Icl., u. and II tho)' arll jf1'lCll....O, It! <luIoJrIllIllU ",,'lolhlJr lhoy ....0'0
d..c;U"II.d In .'Curdonc. ....llh nOVtld Inl.!vllry lI'II,IlcOII
~ Th. valu. "Umltltd In ctll. Ipprllull. bultd on U'. "uumpllon ttl., .n, IUO(llufllng US TI.re floll..klng Ind
er. properl1 rltgll'lr.-d .nd thl! In1 Iblnl.!orkd USh Itl /'GO from C;Imllulllnallon Inl.! .....oro prQporl)'
dr.ln~, fllIld and 1..I.d.
Comment.
NEARBV HAZAR
S WASTE SITIS
ell
- Thor. .rono Bl!p_.~_~c_nl HIl'''/lhh,.'\ \".I~,!O ~)Itll~ ,)11 n ',[lilJd 1J1<.lI'l'll, 1o.'.llt;, "'..,I.II"! I." 1,1.11, lCA(lJl.'l..,
rCI)Qrlc\J In CIJllll1Hlllh fll!lU""1 tt.I...lIdl.!"~ Y,.j~,I,; .: :,I.'.lllll!,) ,II.., ,; '-I,. I ," ~.I1 "1 ,;",,'1;1 r!'...I,. dutcr-
X mUlO IhutlhC,/fll '3 Ulll1 ur IJ1UII': t'.Il,I/(':uU~ \"1..:, "Il'~ un Vf .n :'., ,oIl'.J 1,1 "I ~',Lll".: PU~l'rl,
- Tha Yllua IIUmllt(l In !hI, appnl..lll b"ld Qn 1f1.- "uumpUon lhlllhll/t In nl) tll.uruou. Wlllo SU.. on or
,....rb11h. IUbJec1 property thai n.-gaU".I, ,N...I !hI ulu, or "'oty 01 the IJrQpoerty.
Comments _ ._____ _ ________
'--------
'1:1:('11 :lel:IM'1I11fl:t:..l!I.lll:l:lIII.1J.,1,', 'H'I~
---- All or pllrt 01 rho Inl~HQ\lOIl1l1/1h \II'.~'e c.')n~,!r",;hl< I .)Io,I'~ 1')11;' wi" Ilf ^ I,
budtllflU J1l.1ltUllll Tll'J only Wlll' t,! III! ,-'lIt..'101I1 ,I Ill) I"VP'Ht( ,~, I" ,. "I (JlI'
In'tpol.:lcl.l t.y .1 QlJaflrll.llJ VillA h.,lllllufl.luh)'l1u In ,p.:clor
- ThelmprO'f'Om.nt.:s wero c;onSlrl.lclul.! aflor 1!)62. 1\0 '!E.E.~I!!0. un!.:.}. 1.,lllIall10/1/'Jo Ill"!llrlil:~ worlJ otJ5ur'fod
(exc.pt a. raponod In Comm.nu bolow).
...lL. The ...alua "Umlllld In Ihl, apprar..r I. b..~ on t,. '"umpUoo lh.l Ul",11 no IlgnJllclnl UFFllnlullUon or
ottwr UREA romllldeh1de m'lerl,1 on Ih, prop.lny.
Commonts
'''',.,1,11,.", ....1., .1 U.,IJlHI1Ufl
1"""oIl'l'lhr<111 ", (0 ,,;j.U 11
INT. ,
'U.
- All or patt 0' tho imprOV0lT1011!5 ....<.::'0 con5:ruclt j JulOIO 19tJO W~"" . ",loJ r'.. "I Wol', " lumn....n ~\I'flJlflg
malllfl.ll Trloro 1:1 no.lp/J,l'lJnl \lo~'I.Il' oJr known 1J ,( ,f11cr:tt.;'IJ UIII"'JI,. I p':t:I., ,r !',I~"".i;.l'lI<J 1',\,111 UIl tho
Iloors, walla or 'OIIHl\l3'io';cU~1 .15 rUl..iorlc,j In CO, IIUIl!:> bOIU.....) Tt.I! .;1 I(""il, :" L,o I.OIl,I,C \11",( 1110 prcporly
I, Iroo ollur1ace or subsurfaco LOlllJ PaUll IS 1(,.' h.IVO 1IIIlIPOCI(lll L" .:l QUillddlLJ In5f,lCl.lur
- Th.lmpro"amlnts WlrO C;On:tlruclo>.l nltor 1900. Nu .'!OpllrOnl LOad 1-',11I11 'fillS ob"'Jrvo>.l (OACOpl III ropor10lJ In
X Comments bolow).
- Th, ....,u. "llmaled In thl, Ippral..l II b..flJ on UIO qUl.ImpUon lhlllhor.l. ll.:l 'f.klng or pltllng Lud Pllnl
on the prop.rty.
Commonls
- Thoro aro no aaptffonl sign:!> d Air l'oflullQn .Ii It,
X fOPOrlCLJ In C'~nl-fnC;\t'll.JOI("..! rIle ..'nly ....'ll I,! I
- Tho valuo GlUmllllkJ In !hI. lIppr'llllt f. blllo~ 01
Commonl3 _
U'JlON
'"
. Ire ,.1 triO t"~f"
,~..t,I,', 11,<11 !r,0} .'
II "'<It .'" 'j> .0','1 r,:.,(;r:f:;) Ie-cop! i1:!>
. I' "1) l,' ,.I,v,,:, I" ~Id IU II 1c.::.lo<J
t; ,0 ."Ilrllplfon Ihlll ti\l,l prOIHHly I. IrllG of Afr Pl'lllullQn.
WETLANDSI
00 PLAINS
--- Tho '110 doos no! conl.lln lIny ,Ilip.v, ,'1/ WIJ\:.II:ti~
onfy w"Y tl) l),: CI!rt,lulllldf II". ",01,' 1,1,,:,-, "I v;,,,',
(UIHllun!.11 prull2:I:;oul>.I1
~ Th. ...11.1. "Umlled In ttll. .ppr.,..llt bil.1'd on tJ'l'1 ...umptlon lh.t U1llro "0 no I'Y.II'Il~.{Flood PI.ln, on!h,
ptOFMtrty (a..capl .. repor1ltd In Comm.nt. b4lo...,j.
CommOn15 ____~_
",;I'I""l',II)'U.'1 ,,"'i"'"
.." "','J,",I.", 1,1)10"]'0'1) Hlf!
~ . . " I I';.j,f "
,I."
"....,'.1..',)"""
MISCELLANEOUS EN
1:[el."Jr,r~~U'l.:' to( 1;11}.:
-.- Thorn .1fO nQ oihor ~lpp.a.'_fJnlll\'5COII.IlI"O\J:' 1111111 ,10'1'; ~\,h11,l/I(H~,
lion, on or ,n 11'10 iII0.' cl ltH,: 3'!0 C ICool ,1'1 HHI ;.ltCIJ l!lIlvN
__ Eaco,. NOlso ____. ____
- R'dlJUon + eloctromllunOllC Hadllllion __
_light PotJullon _______
_ WI'le HOlt
_ Acid Min. Oralnag.
_ Agrlcullur.1 POllullon
- Geological H&UrdS
- Nearby HUlrdous Property
__Infectious MtlJlc.1 Wasles
_ Ptsllcldes
- (>tho" (Ch.mlcll Stor.ge + Slorage Drum., Plpollnos, efc,)
, , ,r.;:r,,' . ,,'. I,\i ,~.. ", ,ll1l11'lr.J,\1 CQndl-
. -'.-------.---
--,--.-..
x
- 1M "'lhIe edmae.d In Ill. appral..ll, bliNd on flu lNUmpUon It\allh.,..re no MIK4UaMOU. .nw'ronmanlll
Hall"" (a.CtIpIIhoM reported .bo~.) fla' would n.g.U....,., _neet ttl. vIlua of !he ptQ9arty.
. ------------ --- ____d____~- _
When .oy 01 111, tn.../ronmfMr.1 '!IIUmpllottl mado in fh/, ad<1ondum
_ III nOr C~!fKt, 111, "Umlted ",,/uG In lhl, 'PPfo/.._1 ~1I~~. o~~___
'.I"~" NW.'Q/(Z . ''''''.. "0,.",. lno; liS """n'>I, A.~"..e He. He,,", cr _II I ......H.)4~.\ Il.m IIlMllO
#J>f.JAI4Y'", HellDrltl~llllOll."'"0"mlltllalnl"A....nOO1l
'.
.....'.1".11...1. \"I' i.\"IIr.L.. ..'.....d.., .... '"....1 i,I'-I"II.',-' f_iU. ,'.1",.1, ,: "''''1,...11, ""J'
cQnlJ.tlonl '.qul&i10 to alai' talu, Ihu b..ryo. ,Ind 5l;1hu, cacn JCWI/.) plul1('oIl~, "ncl'f:CtJlj 1,1, ,11:d ,I
stimulus. hnptlClln this dullnlllon 15 Iho conlummalion 01 iI 1.110 as 01 1 $pt!Ci!IOU 11.,1' ,1I11111Il' I
condihons whlfoby; (1/ bo~c" Qnd 10Uer .110 typically 1Il01iYiJllid, (2) bolh pJr\llJS alll '111"1 ,',rlllltll!!J l,r
conwolI his own bosllnlolosl; tJ) a H1JIQnlJblll lime IS aUowl.'1lof llllPO:VfU In thu Oil' 'I "l.II"cl, Id,
or in lo.ms or hnancial ouaflgvmenls COOlp.lmblo the.clo; and 151 Ill!' ,lrlCU rliflrt:'., "I' 1I111 n.,
unalluctld by SpeCIal Of ClOallYIl tmuncino 0' salcs conCCSSlons' I.)fil/ltl!dJY lInY0I111 a~.' " .JII,'ll \'\1111
I i).!;:'1 "I": q......IlIlI.lllId ulll!lil ,Ill
.Ii .I.IJ !II.... plll.l!'" nol ullcCICO by unduo
1,'.'11') III htll~ IfOUl !it,1lhJ' 10 bUYII' undlfr
l.~,n.ll1YI~~'ll, .11\1.,1 ~'och aCII"9 In Y,h.lt he
1"'111\t:rlt I', mdllc In hmf15 (,1 U,S. do/lufG
1l.111.:011!.,llu,I!.OI, Ivl 1/IC P10PlJlly Gold
'1 'I! ~ ,.I Ic
. Adjustmonts 10 thu compatablos mUSI bo mJde 10f special Ot CflU)IIV\! '111110ClfiIJ Of ~.II, , conCl'~' '(;11:. No il(JIU!)lnllJrll$ aru I\UC(l6(;iUy rOt
tho.. COltl which Ire nO'mally pa~ by 5sIlU".1$ a '85UII or l,adiholl Ot Inw 111 a malk, t iUlia, Ihl!'I: CQ$ts alII fllJlllly IdllnUllublo smcllthll
IaUtr pa~_Ih'f,1I COslln vil1uall~ all SlllOlltoll1lilCllons. Spocial 01 CflflllJv\? liniltlClno ,1tJ:v,:ltlCnl:S t,l') lJtI maCll to tllO compllfablo propofly by
comparison. to financing lsrms ollsflld b~ a Ihife parly lnslilullonallonl tlr U\~ll:'l nOI "il1."ICly In~c:.,~ll III !lIe Pl'~ll{ty or transaCllon Any
adjuslmontshould nOl bo calculaled on a mochanical dollar 10' dollar;o~1 01 tho 1"',J'clr.a 01 ,'JI''':lJ:i~'cr, tlJl lIl{; 00'1.1.' ilfr.Cll.ml olllnl
adJustmonl should apploJimOlO thl! marlle!'! feaehon 10 Ihlll,naneino or e,;nClI5Slon5 bol 101,)(\ IIll' ,I,'I;r.l;~l''-S JUllrJlIlCnl
CERTIFICATION ANO STATEMENT OF LIMITING CONDITIONS
CERTIFICATION: The Appraiser cortdl051lnd i1QUIOSlhlll:
1. The Appraiser has no pr.Sllol or contumplaled fuMe inlefest ill 'hu ploporty ,IPIII,li5CI1. oI,.tJ ,llllItlOf !hl! C:f1ploymUf11 [0 mako 1110
appraisal, /'lor tho c.om~nsallon fot II. IS continO!!"1 upon the aPlllilil>c<J v; lUll 01 IIll! prO':I.'l:','
2. Tho Approiset has no po,sonol inlufuslln or bidS wllh Il!$pcctla Ihl! subjeCI maltl!! 1..1 Ille ,1~'p,I.'..jllepvrl ur !lIC pJIIIClp,1I115 10 lhu SlIlo.
Th. "Eltlmole 01 M01Ikel lJaluo. in tho ilppriliul ropOlllS not based II wholO or In p.lrI UPOIl ""~ ',Ice. CO:OI, Of nullonol origin 01 UIQ
plO5PfCIN' ownorS or occupants 01 tho properly app.aised, or upon lhe lace, colol 01 11,11,0n.,1 ",1,1) ': QI Ir"l plc~t:rll o....ners Ot OCCl.lpanlS or
Iho properties In the vicinity or th. properly appraised,
3. The Appraisor ha3 porsonalty inspcClolltho plOperly, bolh ,11$1(,11,/ Jr j Oul, ,lIld lid' ,I ,,',h~ "n 1":'I'CI ,r,~~I:(IIOI1 cl Jlr COf11parablo salo$
hstod In tho tOparl. To Iho bllsl Ollhu Appraisc,:; IInOwh:dOl: and bclll~t. , d ~l.lli:m'!nl:. .1:.1: 1111)1111,11 I I 'PI '1:1', " 1,,)11 .II,! Irlll: amI COlfl:,t, ,\Illl
Iho AppUllsor hilS nOIIvlOit'lnO'Y WII\lhuliJ Jlly slGn,rlcallt ulIOllrl.:Jl,on
04. All conhnoonl i1nd hmlhng condlllons i1ro conliMcd herlM !lmjlOscl1 I)y I!I/l IC/IllS ,.1 ;I". il~:,IIJ" ,.(11 r;1 Utll,l: \Jf1(/cr~'4Jncd i1l1octln{J 1110
analysos. opinions, oncJ concIUS1Qf1s containod in 1I111Il.!pol\)
5. ThiS oppraisal fsporl hos boen modo in corolo/mlly wllh Jnd 15 5l0lcet [0 Ihl.! I' " ,d'.III1,'1l1 :/11.' CC..llo! 01 P'OllJS510nJI ElhlCS and
Slandards or ProhlSSlonill Conduct ollila i1ppf.JIS>11 O/(}lnllJIIOl1S wllh 1'111 :11 IItc ApPI;JI" . '. ,111:11.1:"
6, Atl conclusions and opiOlons concerlllno lho l!Jal cslalu 111.)1 .1ro Sill 101:11 :n Ihe "1-': '.,' ,II rqlu I .'.I:I~ P'~'lljjrl'll by ll\l: Appf':lI:Jur w110GO
signalur. appeafS on the appraisal repofl. unloss ,ndlcalt.>d il5 'AuYiQW .\ppralsc'~ t~" ',.lnQIJ 01.'../'11"111'11 thl} J~P{ilII>Jl wpOtlshoJl bo
made by anyo(lo otho' than lhe Appraisof. i1nd the ApprJISCf sh"U hilYij (\,) fc!.ponslbdll) '.,' ..IIy ~,IJl" 1'''.lIl'QII~l.'d ell,lnOl!
CONTINGENT AND LIMITING CONDITIONS: ThJ ccrllllc.1.110n of tho A Ipl,IISCf apf.lI'...; ;.n ik.l, : r.I"""III!'f.>,11 ,~; ',ut.I'.:c.:lIO IIle foittJ....inO
condlllOtlS ilnd 10 suc:"! other speclhc ard I:mlllng eondlllons Js .Iro sct 101:'1 oy IlllJ ApPl'll Illlot.;' I' 'i' '1'
I, Tho Applaisot assumes no raspenslbllly lor mallcls 01 J lerl;)l nilluPJ Jlh!C!lnQ lilt' i"'.ill~ltf :If;,r.ll~':d or Jf,t.; !I11~ lIU:I~oto, nOf docs tile
Appraiso, fondor ony opinion as 10 Ihe IllIu. whiCh IS a5sumcd 10 be COed Jnd 111JI'I'I.II,11,/ Till' plOj.j';t1'1I~, .Jppr.u:ilJl1 a:. lhough undor
tosponslbto ownership,
2. Any sketch in lhe repon may show i1pploJimallJ dimenSions and is ll1(!udlJd 10 aSSl';1 !II.' rCJlJl..!f 'I' ~1:.uJII~ln!J ILl.' PfopUlly, Tho Appral50r
has made no survey 01 tho properly,
3. The Applaiso' is nol requited to gi1;\lICs/lmOn'f IJr iJppo.lr In c.:OUlt bC(JuslJ al hiJVI/,ll.",I,jc U.U ,111,I,II:iJ: W:lh fIl!crcr~cc to lhu proporly in
quoSlion, unlen atfangomcnls hayu been P/OVJOusly made lherelof,
4. N1Y dislnbutlon or the yaluiltion in tho leper! bl]lwcsllland Jlld IfTlprC/CIlHmls apptl'" ,,;~Iy umjl'l 1111: l!lI:llllnlj f)/l'!Jram 01 ulllizJlIOTl. Ttl0
separate valualion ror IJnd ilnll bUilding musl nol bo usoll in conluncllonv.IUl any otllu' .II'III,lIsal ,)nu .lIt! Invalid II flO used.
S, Tho Appfaiser assumes Ihllllhore ilre no hllldon or unappafonl con1illons 01 lho ~,'qCfty. sUt/dlll, or SlruelUlCs, which would rondor it
more or loss villUoblQ, The App'aiser ;}Ssumes no fosponS1blllly lor sue" eonddions. iJ' '" l:nqlnl!l' 1'1] VilliCrl 11'1/.)1'01 tlllUqUlrl:d to dl5co...or
such laclors.
6, Inlormatlon, oSlimalo5, and oplOlona IUfIllr.hllu 10 tho Appli.llr.ur, JI (J COfltdl,lIlU II" IqJOI\ ,'".'rl: l.it;t,\III~U trom SOUle,,:; con~idorou
reliablo and blllieved 10 be \ruo and corroc!. How(!~er, no .espons,b,llly 'or accuracy 01 '"..:111101115 IlIllll~I\l!d Ill... Appr.:IISlIr c<ln bll assumed
by Ihe Apptalser.
7. Disclosure 01 the contenls of tho appriliSJI fcport is governod by Ihe Oylawsund f\"'-II,I.lliclI!; 01'1'1.. lJI01l!S510n,,1 JPP'Jisol orgJnizJI10nS
with which th. Appraiser is i1UiIlaled.
8. Neithor all, nor any part ollhe c.ontt:nt ollho Icpoll, or copy ItlllrCO'!inCluding COl.-I, "or:s iJ~l 'I, :1;lJ pICPL:I\t '/ilJUO, tho Idunllly ollho
A~ralse', PfOI,s$ional designaUons, .elelonco 10 Jny proh\ssional ilj.)plalsal olganlliJIIU"'" ';1 Iho IIIIlI ,';1111 which tho AppralsfJr is connected/,
shall be used ror any purposes by anyono but 'he clier.1 specllied 10 the I'!pcrl. the tlorr';I," ,r appt.l""d h:c paid by santo, lhl) mOftgageo or
ils successors and asslgms, morlgago insurors, consultants, prol~sslon,1 appralsJI Ofrj,lr":,1I10I1S" :,' ~iloltl.! ollcdc1aily Jpplo'/cd linanciaJ
inslilulion, any department. agency, or insl.umonl,l:ily 01 Iho UOI!<?d Sli1tc~, 01 Jny SliW c,r III OI~,lr,..I ~ (":,,l!Ib:,l, .'1i1I:ul)! lhQ prl:YIOUs written
consonl or thQ Appraisor: r,or shall;1 tlu con1;oyod tly Jnyoll!.! Jo Ihc pub, ': tllrOL..rJll oId'.1 ''1 i_l,t, '. ,:11:;",', r. ,',i, ~.llt:~. or OlhtH mollla.
wilhoutlhe wrillcn consenl and appronl al lhe ApnrJI5Cf
9. On all appraisals. ~ublectlo salisraclory complellon. IUp.1IJ:i, Of allcl;,' ~I':;. lilt) .IPPI r,";,,'J,1 : """''" CO:l':I,~;ICI~ .lrll conlln/.)Cn1 UPO(l
comp/vUon ollhe impIOYUOlont51n iI wOlkmanlike m,mncr
ENVIRONMENTAL DISCLAIMER: Thu ~.lIIJU u~t!rn..ll'tJ '" b.I~lItJ all jhl/ ar,"I,f1lpl Jf! :hal 11111 IJIOY , "'.1' I'
subslancll Of Qelllnllll1lal unwonmll/1l,11 COf'olithons Ur>ltl~S OUll/ll\'"U ~lilllltJ III I ~ ,ppo'! r IllI . I.' "
Slltlstancu 01 dull1menlal un~llonml!I\I..1 '000110111 111'1 Jpl)l,lltl'l r. IOulHlti ," 1l"UllJ!\ 'JI ,IIIIJ, , ..I.,
Inlormatlon IhOIII\dlcalncl Jn~ ilpp.1uml ."onll"..nl II,IUI';OIJ~ 11//),,1,111('15 ,}r dtlll 'till I,ll ,jllvllOllrt " ll)'liJd,u
union OlhofWISlstilleclIn lIl1~ IOpol! II '5 po~slbll] IhaIIU'lIS .1flcllnr.l)UlIoOI\G /"01111/ IjV ,I qual',' .I:.I1t111L,
lev'at~01_llll0nCOl)lh(lIJltJOUllSublil,lnCUOldllll+mul'IUllJnVIIonmunl,ll corrn,: Ullr, on 01 .HOUI'': 0 ;;1'-1,,"1\
""lolll".I'dl'IIII!I",tltln!:lIc,llhlIOlIlJOUll
",,1"1 """IJ,q,ld(.II,c.II0111,llJIUQUG
.,1:,'" I 1''':V''ly '],1/ 1101 dll~lJfOI) JrlV
/.1., [\ \"I~ ,;l! .J1:cV :I,! 111<)1)\.11, nllf),lli~lJlv
,1.::011('.' ,lo',"un.,'J'1I111l1l1,11 ,nf)<1II WOlJld
II .~''''u 11"Jollildt '1IIl'~t 'I~. v,lllJO
ADDITIONAl CEATlP'lCATlON: nl8 .1pp1JI~CI lu.lhor ctlrldillS Ih,11
I, ThI~ ;lppl.1ia.'ll conlOfms 10 Iho UnllOlm SIill'>dolfd5111 f'mfo:;!\lon,11 /lPPIJI~,.ll P',\(:llc"I'U~:rlll ,pl.,,1 I,) /'1'111,1/ ,I; ~,,,,llljoll.L P.o,Hil "I tllIl
/lpplillSill FoundOllOf1, a_copl 111.111110 OapWlull/ Plovlr,iorl 01 Iho USI'/lP dO'I~ nIl' "PtJlf
2 Theif compensalion:! nol conlil'llJanl upon tho Illporl-flIJ 01,1 pt'01.h/lwm,rlud ~ ~Iull r;1 U"UI:IIOh 'u ill. II , .1, II,~ ,;,!L,' 'I '.1111." ..lorl"J. 11,.... ./lll0UIII 01
~I ~aloe es!lmB1I.lhe allll1nmtnl 01.. SllpulallXlluull. Io<'lhO OCCurIOf\(;1j of oJ surWQuUIII O~lIf!I /....
l This appIilsal 3uignmGnl was not b,Jsnd on iI 'lJqlJl~llId nll'limum vllluilllGn, il ~pet,IIC Y"lIUul' , 'lIitf,lllj, ,101,110,111
. i- 1"- ""'.OI"''''~,I.''''_ '"'" '10. '"~"''''''~ ''''~"-.,l'''' ....... ''''' "I~.","I.",."",
---. / I .
>, _ _,1 _ ~ 1; I " ./y,/
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,....""
"rrlnl NI" ''''1~h" Col/f\",", "'M.tt..,,,. 3.ollCI !In
:7lusb.erman .7Jros.
REAL ESTATE INC.
229 N. 2nd Streot · Chambersburg. PA 17201
717-264-6715 . FAXII 717-264-4073
QUALIFICATIONS OF TIN L. AUSHERMAN
..
Hom..
,.,m.
Apptll..l.
InVlllm.nl.
Coun.tllng
Since 1970, Tim L. AUsherman hdS been engaged in general
real estate practice. He is experienced in the sale,
management, and appraisal of reol estate. He obtained his
Pennsyl vania State General Red 1 Estate Appraiser
Certification in 1991.
The following represents a partial list of appraisal clients
serviced by Mr. Ausherman:
-Lomas and Nettleton Mtg Co
-1st Natl Bank of Greencastle
-Unitas National Bank
-1st Federal Savings & Loan
-Lettcrkenny Federal Credit Union
-Bell Telephone of PA
-Agway Petroleum Corp.
-Associate Relocation
-United Telephone Credit Union
-Commercial Credit SaVings & Loan
-Farmers Home Administration (FmHA)
-Commercial Credit Savings & Loan
-D"Cellt;e Activities jo'edera! Crc'lit Union
-FHA Certified Fee Appraiser (Certification
EARNED DESIGNATIONS
-CommonwealthMtg Co
-Dauphin Deposit Bank
-Orrstown Bank,
-Mellon Bank
-PHH Homequity
-Lenders Service, Inc.
-Security Pacific
-Record Data, Inc.
-US Mortgage Co...
-Attorneys ,
-Various Individuals
'.
No. 2210)
G.R.I. - Graduate of Pennsylvania Realtors Institute, 1972
C.R.S. - Certified Residential Specialist, 1979
C.R.E.A. - Certified Real Estate Appraiser, 1989
EOUCATIONAL COURSES
-Residential Real Estate Appraisal #1, Pennsylvania State
University
-Real Estate Right-of-Way course, Pennsylvania State
University
-IntrOduction to Appraisal of Real ~state, Society of Real
Estate Appraisers at Purdue University, LaFayette, IN
February 3-14, 1975
-IntrOduction to Commercial and Investment Real Estate,
Memphis, TN
-Art of Real Estate Counseling, Orldndo, FL, November 1975
EDUCATIONAL COURSES CONTINUED
-Guaranteed Sales Plan, Orlando, FL April 1977
-Personal Estate Planning, LOUiSVille, KY March 1981
EDUCATIONAL COURSES CONTINUED
-Guaranteed Sales Plan, Orlando, FL April 1977
-Personal Estate Planning, Louisville, KY March 1981
-Commercial Appraisal course, Lincoln Graduate Center,
Washington, DC, November 1988
-Advanced Real Estate Appraisals, ROill Estate Institute, New
Cumberland, PA, December 1988
-Applied Residential Property Valuation, Course 102, Society
of Real Estate Appraisers, Spartansburg,Sc March 6-13, 1989
-Marshall Swift Calculation Seminar tor Commercial
Properties, Philadelphia, PA April 17, 1989
-Market Extraction Seminar, Society Real Estate Appraisers,
Harrisburg, PA May 18, 1990
-Small Residential Income Property Report Seminar, Fannie
Mae 1025 by Henry Harrison, RocKville, MD June 26, 1990
-Uniform Standards of Professional Appraisal Practice,
National Association of Independent ree Appraisers,
Cumberland, MD September 17 & 18, 1990
-Appraisal of Residential property, Institute of Real Estate
Studies, New Cumberland, PA February 1991
-Condemnation Appraising, National Association of
Independent Fee Appraisers, April 24-25, 1992
-PHH Homequity Seminar, Atlantic City, NJ June 1992
-Courses offered by Realtors National Marketing Institute
-Various one day seminars through Housing Urban Development
(HUD)
-3.1 Principles of Farm, Ranch & Rural Appraisal Course,
Millville, NJ October 28-31, 1992
-3.2 Advanced Farm, Ranch & Rural Appraising, Millvillc, NJ
February 10-13, 1993
'.
PROFESSIONAL AFFILI~TIONS
-Member of Realtors Marketing Institute
-Member of National and State Association of Realtors
-Member of Franklin County Board of Realtors
-Pennsylvania Broker, License No. RM-0265<\4-B
-Pennsylvania General Appraiser Certlfication No.GA-000149-L
-Past President of Franklin County Board of Realtors
-Senior Member of National Association Review Appraisers
-Past President of Greater Chambersburg Area Multi-List
Association
-Henber of Pennsylva::ia CC~:".ci~ c~ ?'_'~:' ~:.:;;:t'_ ;'.r"r...:'.:;~'Z~rs
-Member of National Association of ROdltcrs, Real Estate
Appraisal Section
"
,
~'~"'OAIIOIr-"I'I"'I"(IlUllly ...."n.yl..n'.S'",,;.'I)!)
lB
REAl TOR'
7/usherman7Jros.
REAL ESTATE INC.
229 N. 2nd Street- Chambersburg, PA 17201-1641
717-264-6715. FAXII 717-264-4973
Federal Tax 1125 - 1552786
PA C.rllllod ond
Llcon..d ROIl
EIIII. APPrll....
December 9, 1996
Mr. Forrest Myers
10000 Molly pitcher Highway
Shippensburg, PA 17257
RE: Hub city Club
44 South Earl Street
Shippensburg, PA 17257
Dear Mr. Myers:
Pursuant to your request, I have re-inspected the above
referenced property on November 22, 1996. I appraised the
property on August 20, 1993, for Hub City Club, at that time
the appraised value was $47,600. It is my opinion and
considering the condit\on of the subject property, the value
has not changed since that report. The following sales
assisted me in coming to this conclusion:
239 East King Street, Shippensburg: 4 unit building, vacant
at time of sale. The property is in need of extensive
renovation. Sold for $47,900 on September 3, 1996.
40 Federal street, Chambersburg: Duplex sold for $38,000 on
August 26, 1996. The property is in poor condition.
125 East Queen street, Chambersburg: 3 unit building,
vacant at time of sale. The property is in fair condition.
Sold for $36,000 on May 31, 1996.
This letter is considered to be an addendum or update to the
original appraisal report completed on August 20, 1993. The
subject property was conveyed to the Borough of Shippensburg
by the Hub City Club on August 9, 1994, and recorded in
Cumberland County Deed Book Voluree 110, Page 600. A copy of
the deed is enclosed with this letter. Should you have any
questions, ~ase do not hesitate to give me a call.
<fZ.ls~_7enL
TYm ~~~herman .
PA certified General
Real Estate Appraiser
Certification #GA-000149-L
TLA/cjb
((WItS
M;tU~EMENT FOR TilE SALE OF REAL LSTAn
, - '.
t tll'\IUt.l11 1'1 "'r..~\ I \ '''I \ \......111 I \1 Ill!'" III HI ~llllll~. 1'111
I ,.. C 1%911 /leol."'nli.1
(Rov. 7.94/
I WIlli., "ullCl
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1,1, l'III~, Ihl)"
.; :I,',:,~ """,."" R~~~~'\/'0;~~~;~~; SEIIEIl .. .... -- .-- 1--.-.--.-
t' (if~cn Ill,~,," , I' r L I/o, .-r71
, ~1lp)lIllillll:.....illnln~ J . ,:J E. n/l./r7 ."'J/-^~) ,
------- . 'jj.'/WE:AhFlI.JRn IJI/ /XI'//;' I
WI . -- .-- I' \. IIl'ENSEIlIllIO"FII 1'\ I i' I "~I j) IIUO"nl---
(! pS J\grCl\UH\ld,lhis ............<l.7!~......... dUIO' ..;.-!~/,/lhll'//......... ,\.I).I').'!(:. ....
1. PRINCIPALS (1.78) B~l"~ell........ .;5'('&J.(fjf' .d~. ..III./I!/,t.j.;,~i!-1(,'I.!/........ ............ ................
. ... . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . M. .I/. .'. . l(f/1( (I.. :-711;'@:!'-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . ,. , ,
(rcsidlng lit . . . . . . . . . . . . . . . . . . . . . . . . . . . :)1(11:1'#1-1,181,;;('6, . . . ?~I. . . . . . , . . . , . . . . , , , . . . . . , . . . . . , . . . . . . . , . . , . , , .
"-",r-r'.
....... ......................................... '.j....... .... Zill Code....' ,-:'.':.'.: ... I hercilluftcr culled Seiler,
alld . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . /l.JlJeK. .(!,.. ... '7()/)1l1. . . . . . . , . . . . . . . , . . . . . . . . . . . , , . . . . . . . . . . . . . . . . . , . . . , -
. . . . . . . . . . . . . . . . . , . , . . . . . . . . . . . . . . . ':j~/~'D~j.i':.;~/f<1\ .'. ?~If~/l;:J'-, . , , , , , , , , . , , , , . . . , . . . . . . . , , . . . . . . , , . , , . . ,
(residing lit ......,...... .,'........ ,'. illl.. r...... .... ,ri<-.<(.(~.,." f ...........'..',. , . , .,.,.. . ,....... . ...'",.,.
l'I'I'i "
.. .. .. . . .. .. . .. .. .. . . . , . .. . .. . .. .. .. .. . .. . .. .. . . . . .. .. . . , . ... Zip ('od~, , . I,' . ;. .:, . .. . I h~rcill:tfler called 1111) er.
2. PROPERTY (7.90) Sell~.. hercby agrees to sell and comey 10 Buyer, who h~re~y u~n'e' lu p"l'chn,e:
ALL THAT CER'I~'.IN lot or piece or ground wilh ~ulldings "nd iIllJlru'elll~lIts thereun elel'll.t1. if "ny, knownns:
. . . .. . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . .44-..~ 1f!(J.11I. t::/)t;{J. . ,.:!(f!,l;:f:-'7" . . , - . . . . . . . . , . , . , , . . . , , . . . . . . , , . . . . .
....... ...... ... ........ ..... ;,~..., ..... ,........ iu lh~... .WRCJ?t7II.." ,,'_.. or. ..:l-;I./'I!I!(:;/!I..:3.~lI/I!If:t-.
County or..... t(l.I}JfJ~.Jil.tJ:M>>.......... Slnle 01'... .P(';NN..1.YL VI)lJlrJ..,.". .. . Zip Cude. .'7~{i7.."..
Zoning Clas5ifiCII1l0n ....... .I!:-.I..,.. (1QnJbJt::ROl/)L. jJNt:....,............"" ,.,.....,.....,.,. .....',,,,
FniluJ'c of this ngrccllh~llll{) ~Olllail\ Ih~ lOlling dassilk<lli~1I1 (l'.\L'I...pt 11I1.,I....l.." ,..lll'II' 1II\'PII'lh'I!\ 1:IlHIl';II.:h parcd Ih~I'L'{)i'. 11
.'H1hdividnhh:1 is zOI1~d .<;uklyol' prilllarily 10 pt.:nnil sillgh.'~rtllllily d\\'l'llill!;") ...hallll:ndl'l IIII'. .l)',I' I IIll'II1 \'llidilbk ;lllhc llpllllll
orth~ UUY~I'. and, iJ'voilkd. allY dt.:posil.'i t~lh.krcd hy Ill\.' BU)'CI ,'.i1lidlllt.: H.'IIJIIl\..'d II) 111..- HllH.'l \\lllllllll ;IIlY i'L'qllin':jJ)~lllllil
court adion
3. TERMS (3:86) (AI 1'1I1'ChllSe I'l'ic~ .... f/.fly'.]~t/. .VI(./v.:'!~w'A . .fYY/;. . /!(;~{J,~)(./:1. . , . . . . . . , , . . . . . . , , . - , , , .
. . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . ,. . . . . . . . . . , , , , , . . . . . , . . . . . . . , , , , , ,. , . , . . . , , . , , . , . , , . . . . , " 1)011011':'\
which shall be puid 10 the Seller by tile Buyer us rollows:
(8) <::ash or ch~ck al signing this ugrc~ll\ent: . , .". . . ,
(C) Cash or cho..:k 10 b..: paid all or before: , - . . , ,. . . , . ,
(D) .. .-.."'....
(E) Cash or c~nlJil:d ~hL'ck at ti me of Sl..'ttkmcnt:
. SI!ll.\C II i I Hl/l SELI.EII --~l
I
19.
~
$ , .
$
.....J.PJ!
S
TOTAL $
(F) Wrilten approv,,1 ul Sdkl" 10 be ull 01" bolol'o:. . , . .,. {)(!,mlJ~. ./S; 1.19(,. . .
(0) SOUlelllenl to bo III "do Oil nl" beforo:.. _, _.,.....,. .. bE:C!BJH.R. ,-:-V, 11.'1(,..
(H) COI1\1eyanc..: from Sclkl' will be by J''':f,; simple d~ed Ill'. . . ,;?f:~fJ.i.,.
(I) '!i'ansfer luxes will bo p"id: ,.. _" ,&I)/1.I.L1.. JJf:f7Wt'i':M .l:IPY~7,~. .-:;'1-I)..')/'/'r.',I.-~!,..
(J) Tuxos will he "ppo.li<ll1cd pl"u.r"I" on" .,., .:P,t}II..Y,.f. FI..:J{!f)i.J . I,,,,;, ROIlIs. ,,,,,,, ,,,,-I
scw~1' I'cnts,licllnhl~ ll\lllliciplIl servk..:s. inll..'n:st Oil lI1orl~agl.' n....su lIIpliollS. l.'tllldolllillilrllll~'I,:~; d lid l1dllll.'\lWIH:r ilS.'lOClillillll r":l".. II
uny. will b..: ilpponiollcd pro~nlla ilt lill1~ uf ::ictlkl1lClll.
4. MORTGAGE CONTINGENCY This ~;alc is NOT cnlllillJ.:(.'llt UPUII ;UI) IIItlrl~al!.1.' 1i1l:lI1dll~ 11llll'~" o(lIl'r"i..,l' I'rul'idl.'d h)' IllldcntlulIl.
S. SPECIAL CLAUSES
,_ _.~ 5~~49!f,,_~
.'.~'.... .S1..SriO.c?r.
19.
19.
., W;I;,;lIII"
II. l3IJYt=f( 1'5' /Jtl/IJI?I:- 7lI1-JT 7l-ki fKJt;fJ8!T'I 1.1 L.KillDJ J,(J 7/1/', I/! ")'I'll.' llI61,ut. r:
.B. l3IJ.Y~ l}bI<L''l:.~S 71ItJr )jC :DB/loLl77C/. i &F 7/1E: BRICK )/!,{'l}OI. /1- I/IL dM/L' /I//LI..
O{!wl!, FIJI!. IlT J...c.rb7 /ZI/ewTY .JM;!.S 1l<Ml /-:;y~ ..::If.:7JI.E:II/Ir.. .;ZI1.L, tl'{;Le.5.s hi':
liMIt: /5 NIIIIIJOdJ &YlJjJJ 71EllSONllliLb l'!i11Jlk. BY Il.t 1.1(\1:10, / u, .-)1.1 ,liT of tl~A.
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BIJ.Yt:x !ft,.J ::I.lU,(
7!/(:fIlcI./'?J<t)t!T Ji/
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711/f -);~~!L /.; :'(l'li.~"'!/ ,I '
L1 t'/!JIfl:-Jf.'LAN), ('t.C;{, ,','
C,',"/, I;'I//._~I,li ['to Ll.f:
P. Bf/YEX {vIM'z.', 11CI11c- Jl?Wf71I/l al, 1t',('II1 16-6. Al7A flU""
E. l/JiJ/Ulif}(jL i'CJ!T/lJ//XNCY ,'n/JeNivltl Ie I}<,U,--;;JE.7v7 I'T. -,1'/.1 Ii III! 1~-6. ,'I n/-c /llIl.
To Tj,'J-/IIJDl'liJu/III '1/' I1hlit.EAiE-AJ"l '" 'l/ILI. 7'1)1,)(11 Ik',,, .'i':'-;!.'!,!..
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7'tlJJrrffF.'"1'rrrro:7ffim 11 JJ{!tp ---n 71Il7-Ft\'tJ~TJI.-71trl711"' .f-. kt!/'''~)r ,.J-u. --
---.,. -bIEAJ'~ ,~NIJ F.M'tlllliJfB#-/tA/tE-b,_ MT"V ;:1 (l! )
(/-I. 8vYo< f}A/!. :k.Ul:1. .-Jf-tl.!EI!;- 71f1JT IIIL ,-/;.-'l'l.l.lil., 1" _~Ilvl. ,',7'/_1 i';r-JL~I7A,I,r,
I PJ<I)P~"'7'i IdJ 1J/E" J-IClllc. !.LIILL .k.'l]1I1)/A, d/iill Till' 'k/I:,. -,,- .', I'; /~i-'-lj)t_),
" IN 7!/r~ .';tJilc,. 'Rc/YJ;.'/.! IIJILL At. -I:cl'i /J/"Y 11--".':',(, '/ .}:':( '-,., ,,'j .'11.';/ .'} /1/:,'.
I/. 1 PI'. . :'IL:,}!?/~ ,'iT 771# 7/lllce ..~iil'! /-., i!e,!: I,. '., ,I -J'!"I, " L-rh".
As 1-II7L'.- (1101. II~ Ij/'l,~}/ ..,,; 'ilUi,,':"'.-/l'r ( 1,1. /IiI' .;.., "
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Tlfll1 I ~ fl'C",t"- ~r. tft-L t..el~, ,,- /-'<,0 >'i<.-(- /Jit>""~'/I/ '_~.'.
N lil?Jf1ay
EXhIBIT "E"
III.
.'l~lkl "'"1'" ..1 '" 'I I (')\01' lIoIl, 1111" ,,[',., I.. 111,11..11 II' I,ll ,,, I ',1 " ',.,. "'"',
11~'l,'lIlll.ld~' 01/',111"1/ III .111'" ~ \~lllltll 1,l,tl1l UIIJ II I ,(11.\ 111.,111" 11,,11., I \ ,111\ i"", 11"'" I 1'111'1'11'
illl}l)l\l,: 'lll iI,. '" II., " ( 'il,rt 111...111.1,111' 11,,11<..'" , 1,11111)' (OJ \1' l.dl"II' ,II ,"HIII::' 1,,,,, -III" 1,..1,:
IJlh,:I}fll,'...h;d I"lk, ,II,., \\1',,' '1'......,11,..[ In:,...'II,
tll) Ifrcqui,ll:d 11) /.," ."".I!.'I II,dl, <'11\>"' lu 1I11,\':1 '111 ."l'dlll" ',-'l!klli.til .1, "fill,.lIl"" 11"'11 11,"11'1'
. dl~do~llIl.ll\lIII"": '110111\ 1111"'11.......1'-',1 \lllI.lII')1I 111/UIlIII\L Ihlll'lIll'.I'"II,hll!'. ',1kl~ "I Illl" IIldlll,III"
(( J l~IJ)...r I~ Illhl.''-'.! Ih.11 .I, l .,:" 11I.I puhlh: l~lad 111,1) 1~'qUllO: 1">~1I,\1\~,' ,1l.1 lil!dl\~,I\ IJ~~ Llp,lll~' I" 1""( I,.
(I)) Sl.:lkl ..-.111 I,\.' 1~'\[\"'I~lhk hI! ,III) llulh.":lllullIHO\":II1\'11h'lI .1'''''':''III.'llh 1....,'1\,'.1 'Ill '" h,'I'II,' Ih. .1.,1<.
11Il1"O\'I:llh'lIh l'IHl~I~.1 Ilf ~":~\":r or \10-111""1' lIuo::, Ilul ill 11.\1.',
(E) UU)l.:r ~ill Il..: l":~pllll'\dd..: 1111 .111). \\IiII\.'Jlllt)II~t: ~l'I\..:d 111'1 III ~,'lkl .lIl,', lh,' '1III"""d .1,11\ "I 1111 ,':'1'
public 1I11l~Il)\'l.:II\":1l1. l.:lllhlOfllllllllllllJr homt:I}\\n":l "~~O...'I.IIIt)11 d~"l'''''ln~'III'
7. TITLE ^Nll COSTS (1.66)
tA) Th~ \',rl.:lni~e., al": 10 ho.: ...oll\..:)....d f,CC illld I..:k,.'f III' ,dlliclI... ..'II,UllIl1l,1I1..0. ,11\.1 ",:.1...,'111~'1I1'. I .\lll' I il"-I, III I\\'I vile Ill..' i'ullt)',\II\~! "\1'1I111'
hlllh In!; 1.......llll.:llllll'>, III d 111011'1.:":'\. ":;I'\I:111I.'III.'i III IUild.,. l.'Il'\ClII..'llh \ l,rI'k Ilplll\ tll,' rH '11'1.1 III l\ d( 1'," . II 11" !,I I 1'111\1" ,,'1\ I..,' lllllll',II\I~" II .' 1\'
(jlhcrwi~..: Ih..: lill..: III Ill.... ,llh)\": do.:!lcl'iucd n':lIl c~I.Il..: !lh.llIlh.: I:llqL! ,1nd 1l1,llhd,lhk oIllt! .'lh.II.1' 11/:11,,' 111'1I1,'.!1,., ,I 1~'IHll.lhk '/111..: 11\'>111.111"
COl1lpl1n~ al Ill..: I..:gulal ';ll":.'. . _ _ .
(U) Inlhc cven( Ille Seller 1'\ unillJl~ (I) ~l\'\: a !::1)l)\.lul1u Ill;Hk~(.lhk Illk ,11111 ~~II.'h '" \\111 hI' Ill'>UI~',1 11) .1 1"I'lIl,d,l. r Ilk l 'l!1I1p,ltl~..uhj":d III ,II.'I,",I',!
Uu)er shull lIa\e 1111: optlOIl ollilklng )lll.:h wit: us thc :Scller ,,:.lll gl\1: \l-1I1hlllt ;lhill~'ll1O:lll 01 pll~l' Ul IJI hl'II\)' 1<':[l.lld .Ill 1I\'J111,'~ p,w'! 11) Uu~rl II
~he ,sdh:r on .H;'~~lIl uf the pUlc.ha~c rr.k~ and (he S..:llcr ....ill I..:illlhur.,": Iho: BIl)el lor illl) ~u,h II\l..YI:":'! I,) ;11,: Ihl)!.'1 rlJt lho,.... il~llI.~ ~pr,lIjl.'.1
In pl.triJgruph 7(C) llc!Il,' (I). (2). (J). Illld III pnrugrltph 7(D); ..1IItlllllhl..' 1.1111..'1 c\":llllh...'1 e ~hall h\.' lill lUlllh'l 11.!illll!: nr <1/'1111:'.1[1\111 UIl cllli....r ,II lh,'
.\~i1rllC!l hCrI..'IOallllll.ll,' ;l1.tr":":llIO:Il~ ~hall th~";l~IllC NULL r\t:'[> VOID .lIld ;rll....,:pl..:\ \~11I he 11~IIHlh.d 1'1 ~,,'Ikl "\J'~'llr IIlI (,II\l..dl.llllll\
(C) I>e lluye' ,..1.11"') ,,,' Il>e 1"II'''''''l'' (I) 1 he /"'''11I""1,,, ''''',1>.""" I"." ",,,,,.,,,,,. .,,,d.,,, ,"k" .". I. '" I.. ,,,' ,,,,,,,11.",,,,, ,,' ,."",. ",".
(2) The 1111..'1111111.1' Illl Illllldlll"I.,llIl..''': illHl!nl' lirc Ill,Uf;llIt.:\. \\1111 ":.'I,'lhkd ,'Il\":I,I!!..', 111"111.111,,' hill.!' I , I, .1 )'" "I . ,Ill<. dl.llll'll Ic',' ; 1.111) (I) \1
pt,lI~lll /l.:,'., ,1I\d d';III"'" Ililld III ildvilfl<.:": 10 f\\OII~oIll":": II' "1\,, (.1) 1111).'1:' Ilolllll.l! \,'1l1..'1l1,'111 ,,1.1', ,,11.1 I" ,,,..[,
lD) All) ,ur...e~ ," ~UI\.\~Y~ \~ Ill..h.llI.l)' he 1":(IUil..:d }IY I It: Till<.: 111'L11.1I1ll,' l'llllp.1(1) "I 111,' .111">11,1,11111' ,>11.'1"'" I... II.. 1'1< 1'....>lII'1l Ilf .11\ '''''"'111 d,
I..:uu[ J....It~llplll)lIl)lth\.' IH\.'Il\I~""~ (or Ill..: I,,'Urn:t.;'IU)JIlh~IO:'JI), .,h,1I1 II.. \"'~'ul,'d ;111.1 [l,llIt I.l( 11, III,' \,11. I II,,\\< 1,1 ,11\\ '111\...., ,ll '1Il\":~" ,1'''1'.1
by Ihc Bu>,....,lltl..:qlliled b)' hi.~/h....1' 1II0J'l/otilg~e Shilll bl; !lc~uled alld Ihlld IUI 11) Ill.... lIU~~'1 .
H. FlXTUI~ES, TREES. ~IIIHJU1JlH;\" ETC. (1.86) All ....xi:iling pIUlllhillt:, Ii..;tllllg und ht:h[ll1l! .rl\lllI<':~ (11\, llldllll' ,11,11\0!..-1."1 ,) ,Illd ~)'\IClll~ ,1111'1I1I"II,!I\\
Iherchlllfld rurlllinl~ ,I P,II1 Ih..:I....OC illld olher pennilll....lIllhltfte.... il:'\ \\..:1111' ,rlllillllhlc y Illlh, '1' V 01111.'1111.1".111.111\ .111.11 ,!l11I "~'''''IIl', 1I11!..'lh..:n"Ilh \1.1111"
WILli .l..'lIrp..:till~, 1'\~1..:..:U',"lllllll..;I\1L .11111/01 dlllll S, ,",h..de'. i1Wllilli\", .' ('11..'11;111 Id'lllh, . '1lII'IiIlJ!' 1"'1 .1111<1111.1111 1', .liI'I', ,111.1 <II \ l'l \. ~'h . I ;Jdl;lloI ,0"'1'
I..'Orlllt,;c.~. klh:h....,l t,;.II\lIl~l\. ,II ,111....1)' HId.,. tlnlpl..'l)' I od hllnl\~ill"", ~ U' lalll Hl.h. ...'111.111\ ,,,.111.11 d \\,1 I ,'. ,Ill I..,... 111111 d" I I pl.ll HIIIJ'" II"I~ III 'II 11111""1'" II \ tI
un)'. unll:~HI'cdfklllIY..:"I,,'O':Plo.:d illth;, ;1~"":CJ\I":IlI.lIn: indud..:lI in Iho: ~,rl..: ,11"11,1111\:11,..'..101...'...., NlllI.... ullll" ,,1>111 \' 11\11'11111\'.1 11..'111." ~ll.dl b...' 1I:II\In..'d 11) 111..-
~clh:r (rom I IC rrelllb..:~ ilftcr Ill..: d,ll~ ()i' thi~ IIgl'~cl11~nl. ^ll~ n:flwillilll! h\',llllIl-! allll/lll ,'IIUl"i III.! I ~I..:I.. .,llll ~.tl"1l1 I h.' I" ,'llll''''',~ .111111'" llr,....ttklllCI1I ;~I I.' .II ~< I
l/u;luJeJ under Ihi:) ugt..:em....nl. S..:Ikr h..:r~b~ warrunl5lhul h~ will d..:lh":Ig.ll\ld lill..: 10 i111 url11!.' i1IIIt,:k~ ,k~,'llb.'.1 III fILl' l'oILI~I,lph, ,llhl iLlI)' ulh..:r 11,\lLlr~',
or items o( pcrsonull~ ~p":I..ilic.:,I1I)' sc.:hcJukt.! llnd to be indudeJ in thh ql..:.
9, I~EPOSn' AND Rf.C~)VF.R), FliNn (4.93) Dcpol'iil!'\, re~llrdlc/l:s or Ill": fl\rrllllfpil~lll....nt ,Hid Ill.: p...., "'III Ibi!'lldl,'.( .1' [l;l,~'...', ,Ilall he p,lid 10 Al;!..:nll'ol I ilL'
:-idh:J' whll :\hlllll~lllllllll..1l1 III all ".''';III\\' lIt.:t,;lIulIl 1111111 ...'III1.~'lfllllllllllln ill 1.'IIIIIII,lIuIII.iI Ihl'. {\",h.~.!ll'.nl Ill' "1.1"1'''11, \~llli .dl ,1j'.I\IIl'.rhk 1.1\~' .11101
IC!lulllIItHl." ^!;CI\l fill Ill" Sdkl' 111;1)', III Iii,.. OJ' Il....r Mlk UPIlllll, hllld illl)' II IIL'.I" b ,'.1 dll.:....h 1,'1,,1..'1' d oI'lkll,,"I, II' 11dllll' tb,' .h'~ "pl'Illll,' 1I11111' lllf~'1 11111"
cvenloCliti!;Ulioll for Ill..: lCllllllllfd":[1o.'\illllunk:.. ^gClll fur tll..... Sdkr \~ill dislrilwl..: Ih..: 1110111.....' IHII'\lIiI1l1 In.1 flllil[ <lI.I,'IIlJl.lIUllm lh~' I~rill..:n il~I..:,'I1\":lll .>1
Ihc punks, nu)'cr illld Sdkt i1gl~''': Ihill. in Ih.: ..:....1..'111 all~ 1\l,!Cfll lInd/m SLlhag....lll ;lIdi, JIlIn...." 11I1111~,llIl111 I'll tli... h'llIllI ,iI d"I,u'll IlhHlI":.'. tll<.: Ar,'lll
iLlld/or Subilg":III'!l ;lllolI~":)'., k..s illl\I....\~,'IS WIll h..: pllid 11) 111..: p.lIl) I'lil\lll).~ III>: Al!~'1I1111 Sldl,lt!c.:n1.
J\ H....ul [.'[i1I.... R.:~Il\...:I) I'lllld 0.:\1..1\ illlCflllbulllo.: allY p..:r.~1l11ll "lhI 11.1\": nlll,1 II I"..! .l 1111.11 ,'1\" l'hll--'llI~'111 ,ll'oII11Q.1 I"'I'II~\I I ;1111.1 h'.d ~'."I:LI..1iI.:..:n~I.". .II~ 111j' II,
(rauu. mhr,,:/,rcscfllilllon, 01' d,'t.:..I[ ill II r":ill":~I;lt..: IranslIi.;li,)1l illId "1\0 Ila'" 11..:,'111111,1111..' lll....nll..:....llli" IlIdl'llh'1l1 .tll,'1 ",!Lilll'lllll! .dllq!;tl ;111\1 ,'qllil"I1:.'
r":I1I~Jic~, :or "':0 III p I..: I..: d':Llll~ ,1l111~lt Ill.... hllld. "':i\ll (717) 7S,1-.l(I,'\:-'.
POSSESSION ANIl TI:NIlEII (3-65)
(1\) Pll~:ic,')sion i~ 1,.1 tl\' .1<.:11\":/,'..1 b) d..:..:d. key~ auJ pll)~il.:ill jlU~"":"~ldll 1\1.1 \al.:.llll hllddHlt~ (II .111:) 11l\"'111 ~k,lll, II('~' III ,1<.:I1/i, at IIi!) .111.1 .1,1:'
~lr 5Clllcll1cnf. ur b)' d....cd ;llld a~~jgnm..:nt of ..:.\i.,ling kil.'''I-~) ,II 1111'.... Id' ~,'llklll....1I1 if pr~.11l1\1.'.' ;H,' h'llil 11 I 1l1..I.'upit.:d ,II Ihl.' .'ibllll1g "'1.1111'
;Jgrc~l11cnl, IItll..:~.' Oll1..:I'\\1.''': ~pcdJicu hcrl.'in. BU)l.:r \~ill ill.:hl)(,'\~kdi.!": ..:.\I,lilli! 1c;1",,'U) hy 1IlIIl.lltl1j: ".lld k.t.,I.'(~) al [11ll1.' or lligllinf.: ,11 il1l"
agreemcnl of sak it' ll.'flallt UI,,''';UPICU,
(Il) Sdler will not ~1l11.'1 Ill[..1 HIl) n..:w k.l.,.....,. \\l'iIl~1l ~'.\t~lI~ioll (If..:.\j.,>lill[.' k,l~"', il ,II);'. 'If .Iddllllill.iI 1-:,1" ", t..1 [lh' pll:llli,..:~ l,l,illWll! .....\IHl..'I...~
wriltcn ";011:i":;l1 ,)1' tll..: Lhl)Cf
(C) Formal [cndcrofan ...:\,:,'IlI<.:d d...'....d ;\Iid I'Llr...:llU~": !lllln..)' j, 11"I,,'h~ "',11\<'11
(0) Du)'cr rc~cn'I.'.~ Ih..: Ilj!IlIIO lIl"k..: iL PI":.ll":ltlcmelH 111.~p':i.:liolllll'Il\"'lIhl"",'1 [l1,'II\I"~'~
,\IAINTENANCE ANO HISK OF LOSS (3-65)
(AJ Sdkr shall rn,linlili 11 Ill\.' prup":r1) (i,II.:lud;ng all il":Ill., llI':llliul)l.:d III p.11 olJlI"l'h ~ h:f....lll) oIlld .11\) I"',,, 'II I: J'I"i'd I) ~j'<':l.:lli....ill) .,..:h..:JlI!..-d !',,'[ (I'
in ils pn:,'i....111 (ondillol1,.lllll'lIlid \\""011' !Iud Icar l.:l\l.:cpl..:d.
(IJ) oS..:!k,- ~h;lll 111:,11 li...1" ul Ill~' JIIIllI Ji,.. ,n' lillieI' 1.:.I\t1ic/li...,... IlIllrllllll': "I ,..-111,'111,',:1 11111\\' ,'\.'111.01 .1.11:1.1:'" I" .IH', plllp<:lly 111..:111<1,',[ II~ III',
sale by lire or o[!l..:ri.:;lllllillli..:".llut I....pilired or rcpla..:\.'d prior III ~..:lIkllll.'lll..lhl)1:1 '\II,dllla,,-' Iho: IlpllllJL .111";'~ 1II.lII.I~ 1111.' ,1!;1"'<':I1l"'lll ;!Ihl r <':1.:.": 1\ \llf ,ill
monks paid UIl ill..'l.:OlIIlI Of of ilc.:l..'..:pling Ihl; property in ib Ihell ....LllldltlOIl I\Jg..:th":l \0,-1[11 Ih.. [lilh.:..:..:d~ Ill' .III) IllS\lI";rlll.:lo: f'I.:I.:Iwcry \)bl,lIl1;rhk h:,
Seller. Buyer is h....rcby l10tilicJ that he may insure his e4ullablc inl....resl inlhis prop..:rl)' ;IS of thc lllllt' ,II llll' JI..'I......p[:lnl..'c of Ihi5 ;Jgrc~ll1..:nl
RECORDING (3~85) Thi:, i1gr":":lllell( shall not b.... n.:c.:urd..:u inlhc Gllil..'.... fOl the I{l..'..:unling or DI..'...d.~..Jl' ill ,111J 11Ih..'1 111111..1.' ur pLI..... tI( publil..' 1~''':'lId .I1~d I!
Buyer CiIUSC!l or p..:rmil.' Ih is agr..:....lllcnl 10 he rcr.:onJed. St:ller mil)' ..:kl..'lllI Ire;tl sUl.'h ;11..'1 ;IS II I1n:Ilt,;!l Ill' Ihi.. ,Il-'I""l'111~'I\1
,\SSIGNt\-IENT. (3-86) TIll"> ,lgr":~~lll..nl ~h;tll he ,hifldill~ UpOll ,[II.... I';ttli,'" th,.ill..:'p....:tih. 11...j...., 11..'1 '"I1.d "'11Il'\,'I\I,III\"', )!lIolHli:lI\'\ ,II HI .su..-,',.,,'Ir,. ,11,.1
tv th.... ~XIClll U::iSlglI:Lld..:. on III.: i1:-o.'\Il:\JlS ollhc paIIIC,", hc"~lu.1t b..: I 111;; I..' '\I\I..:.,,~I> lllLd":I'\IIlUIl. Ii \1\"""\ ....1. lh,It Ill..' II1I \ ,'1 ,11,1111101111,11,,1..'1 . II .I'."'};" I hi, .(l~II.''': II k III
wlthOUllhc writtcn ";0115..:nl of Ihc Sdl~r,
l>EFAULT.'flME OFTIIE ESSE,'iCE (1- 79) Th~ :)aiJ limo..: for :-icllkmClIl .Iud ,III ulh..:r [ilH"':'\ n.r...:II,'d I" fUI III': 1,,'110" 1\l.111I';': or .111) ,If th~ ()hljg;!IIUI~~ III
Ihis ilg.rccmcnl ;Ir.... h":l'..:hy at!fc..:d In hc Ilf the cssc1\c.:c ()rlhi.~ agl'Cl..llI":lll Shllllld the IILl)'\'1
(A) Edllo IlIl1k.. illl) il\ldlllllll.II jla)'IllCIII.' ,I... spccilicd ill pal'ill~IOI[lh I. III
(ll) Furnish (ubc Of lIlt.:otll/,kl": 1I1hHIllillhm 10 the SclI..:r, Ill.: ~dkl '... :\~Clll. .11 Ilr~' 1l1111Ie.i1l'''' kl\,k1. "Iii, 'I 11111:
or fail 10 ...:otlp..:r;lte ill I I!.' pro...:..:ssing o( Ihc ll\Ortg.i1~": loan appll..:.lllllll. wlw..:ll ",'h \\Il\tld I,'\lrlt III Ill,' I ,lrI,l"
1.);IIlt,;onlmillll":I1I,III'
(C) Viola Ie 01 Lull'llLlllill ,11Ld [1,'1 ['Ill III ;111)' Illhel' II..'I Ill' III ....(llldlll"W, ui' IIII'> .q'I""llh'IIl
Ihcll in ~uch t.;'lIs..... alld..:pu,'iilllltlll":y lIlId olht..'r,~ullls puid by Ihc BU)''':fUI1.ll.:~l)\Inl ullh<.: 1"1 I"; lL.l'''' 1111..'.1111,'111\'1 I' <1"11"-.1 10.\ Ihl~ .I1~1":L'1l1"'.1l11l1 Illl!, I~I.\. h'
rctuin..:d by th.: Sclkr. (I) 011 'h:"':IHI II I ofth..: pun.~h"sc.or (2) A.. 1I11l1lILS [Il hI..' appll..:d (Illh,' Sd!..'l" lI;llll,I)'.. ". "I \Il..h II\jUhlil:...'d \1;1I1lil~I.'S fur ~1I,'h
t~rcu....h. as the S....lIcr 1ll,1)' dn:l. ,Illd ,il~ Ih.... cVl..'I~l th.al tht.: Sdl..:.r de...:I' Iu l..:lam [h.... IIltlllil:., ,I') liquld,lll:d d,llll.lI:'" 11\ ,1'~"I.l,IIK,' wllh Jl.llil~I,~ph 1:11,.1 J. 1111:
Seller shall be rel..:;rs~d lrlllll ;dlllablllty or obl1gallons illlJ thIS ilgrcl..'llll..'lll ~Ilitll b..: NUl.L ANI) VOID .Illd ,111"'''I'I'~, \~Itl t'..: 1..llll"ll\.'d 1'1 {hI..' S..:Ikr ~ Al~....nl
(or cuncellation.
AGENT(S) (3-85) 11 is opn.'!lsly undo.:r.,hHHI and agrccd l:1d\\,,:clllhe p.llll":~ l!1all!1... 11.\lll,'d A~"':lll. 1IIIIh'r. ;\1\.1 ,111\ Slll',\!~,.llt.
I.'ll\l-llule..:~.o(Jker' ,11111 Ill' p.rIlI\l..'I.\, 011" r\g..:nl(s) for th..:S~lkl'.Il01111,'II\I)"I, 11I11\1.'\l'I,lli\:.\rl'llt("II~I.I" 11~'II"III'" "Il'" Itl!
f1nilllc n~. il'suran...:c and dOl.:UIll":1l1 prl..'parillinn,
HEPRF.SENTATIOi'iS (4-941
(A) In enlering: inlu lhis 1\~rlC""Jlll:lll. llu)....r h.J:i not relicJ upon all)' r..:pn:"l..'IlI;llillll"..:I,lllll\. ad\"1 [i~ll:t'. PII'II\' ;1:. '1;..I.1,'l1\.III"". hll).:l1uln III pi.ln~ ut ,Ii
kllld 1ll,Ide b) Sdkr, :\J"'llb .11' Ih..:ir ....nl/'Ioyo.:es 1IIlk.'i:\ l.'-'pr<.',.~ly 11h."11"1Iill<.:d III '1.\1.'01 II~ 11l1', '\)'1"'1:1,'1;:
OJ) Ie i5 understood Ihat lIu~....r hu~ ill~IICC(l:d IIC propC:r1)', or hereb)' It Iii H'" Ihl.' Ol-:lIllu ,In llU. lIut! 1111' lIgH'~'d /"111I1"11:1'" 11111 il\ jlfC'-\'llll.'lll11JililJn. BH~1'1
al.'knowleJgc~ Illllllhc AI{Cllh hilt!.' flllllllildc till indc:pl:lldclll C :~nllllflllljnll or tlelerllliuillioll IIf III,' \lllIr!L1rll[ ..11111111111'''' Ilr I he prlll'l.'tl), Ihe lll(C or clloLli llUll
of Ihe compOfltllh, ClftirOllllll:lltul cUlIdillon5, Ihe pClmiued USC.'), 01 tiC cuutJiliUll') c\blilll-: in 111\. lm:alc Ith""lt' Ih~' pi 'IJl~'''I) i.' ,iIUlllcd; nur h,nl.' Ihc) IIIlldl' .1
mechanic..1 impct:llulI ur '111)' of Ihe .'Iy!Stl:m.'I conlnillctllhlJrein.
(C) h is further ulld..:rs[oud thallhi!l agr~ellll..'nt <.:Olllilill:i th.... \,,11.;1..: ,}l(l...:ell1':11l l1":ll\\.'i.'11 S....lkl .111.1 lIlI.'"
..:ovenant.'i. r..:pr..:'i....lll;llillfl', ~lillC'Il1Cllls or conditions. or;J[ or llllll.'r\\i".... \II' ,Ill) kind \"lrilhl '0.:\":1' ~'H\":" 1111
~h.llllll)t bo: .rll<.'r~d, oI11ll.'ihkd, ..:h.lllg..:d. ur Ilwdili..:1I ..."\..;....plll\ IHlli/'i' ...\........ull'd h:. lilt' 1'.'111"
"
,,1-.
.'
"I' .1
, II "",'.1 Illhll; th, ',..-1.,
"1.1111.11:'"'' \\1\1..:11 1,'111."
,I 1'1'1111"101 <II .kl,.llll..
Ill,
"
"I"IIIII"I1!'illl.IIl'I'"I"III,I(\
'11'Io.l.il ,>I 1111' .Ij'II.:"Il\"111. 111.1..'
.1 i. I III, I'." ':I"Ii! ([1~'I..'.ill':1 "I II: \ '
II.
12.
1.1.
14.
Ill,' 1I11\~'I'., Iq~.tl Pllill.ln":l,d '\1.JtIl\.
:' I ,>111.1111 Ih..: ''l~I1rO' ,il 1)( ,I 11111! I!.' .I[.'~'
15.
HI I 110...:1' ,lnd tl1..:ir ~dk~I'<':'1pk.
111..:1111)":1' in ..'011111:..:1:1111 '.,1:1'
16.
.1: ..' il...ll .Ill' 1\0 J (J11l":1 (":rlll~. uldil~.III' II:>
1:'1111" '.Ik hUlhcIIlHll":. lhi~ .lg;~><':I:l':1
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~1I1C! Ind.lladdcndll, bc:unll"lh~ '~"llILlrcy~fllll >>-"rllt.~, ..:t}n!SUIUIUl1ccel)lllmCHf~h"~' '"~"I.i'"rl~~h) III Ir.Ill~,I...liIIlL .11. .uhl..cd III ClJn~ullllnIlIIlHn....' hdon
st~nlng Ir Ihc)' ~c~-Y~ll-:~lnJ'tK~.) /1_ //( I} . ~ / ,/ ' I
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ltldk,IICd bdow by my OJI/I 11.111 d.
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'nU.AUUENI)L:'\. III ,\(01\1',1,'.11',,' 101' SAl.E
RE: PROPERTY .. _ .#.. ,;j,-&;;?j&"--.:5f!:l-z.-u-.;Y/-i/PPEAi:5J3L-K6
SELLER:.__"13O&i[.l5iL1JEcJlI/L!EJ. 5Bvili __
BUYER: _____/11/.tA1<._.__f!..._ - 2b:J7l:L" . 07--
DATE OF AG Rt-:l';1\I ENT ___.'_ ...:::rEiP1:' _7 I~ ZJ.;;;>.
. RADON D1SCLO.sUIU: ADDENDLJM TO AGREEMENT 0... SAl.E
l. BUYER ucknuwlc:dgl:~ Ihal hl'/~hc 1111:<1 reud and understands the Ilulll:C as sel f\luh Oil Icvcr.\c shlc hcn:of.
2. ~ELLER hereby 4cknowlcdgcli tlHU he/she has rend uli'd understands lht.:' IItltil.:C liS ~Ict fOrlh 011 the rcVtnc sidt.' hcreclr .-
(c~1< appropriate resl'"",e(s))
.(~, ,r ") 'A. SELLER hus JJIl ~1111wlcdgc ClHKl:nllllg thc'pn:llcl1l:c or llll.\cncc of rlIl.hHl,
'( ) B. SELLER has knowledge that lhe property Wl\S letlteJ Il/Ilhc Jutes, by the method.') (c.g" 1,:luJr\:tJal ..:allisler, alpha truck, elc.), lind with
. ~ .. (he results of all tC',\ls inJk'i1teJ below:
DATE METHOD IU,SUl.TS (pic,,,,uric>/liler or ""r~lllg level,)
"; , I
.. fl.. ~_
I,ii,.' COPIES OF ALL AVAILABLE TEST REPORTS will be delivered to DUYEI~ with Ihis uJdcl1dutll
SELLER DOES NO\' WARRANT EITHER THE METHODS OR RESUL:rS 01' TilE TESTS.
( C. SELLER has kIHm:lcdgc that the property underwent raJoH reduction rneusurCK ol1lhc dllll'(s) anJ by lht: methodes) indicated below:
DATE RADON REDUCTION METHOD
'-,
i--
.3. BUYER'S OPTION: (check ollly ooe) ,
9<> BUYER acknowledges tllal BUYER has Lbe righllo have lhe prop:;rty illspecled for radon by u eertilied illspector. BUYER WAlVES THIS
, RIOHT and llgrees to ut.:t.:cpr the property on the baSIS of SELLER S n:prcr;entulioll und agrees 10 the rckusC' us set forth in pnrogmph 4 below.
). BUYER, at BUYER'S expcnlil:, elect:) to obtuin a certilicd radon lest of the property und will dclivCi II I.:opy of the Icst report to SELLER
or AOENT rOR SELLER withill days of SELLER'S aeeeplollee "f lhis IIgrcc1l1elll.
Failure to obluln und provide radon letil results by thll dllte will cOl18tUute a WAIVER or BUYER'S rl/.thtlo IIbhlllllhe Icd.
^' I(lhe lest report reveals me presence ofrndon below 0.02 working levels (4 pkocuric!)/Iitcr), BUYER ~h;i11 he deemed to have accepted
the proJ:crty and to have agreed [0 Ihe release IlS set forth In paragrJph 4 below.
B. If the test report revenls the presence of radon at or ex~cedillg 0,02 working kwh H piL'lll'uric!)/liter), SELLER may, within,
.___ days of rel.:cipt of the test results, !)ublllit a written, com:l.:ti,.....C' prilJlos.ll to HUYElt The corrective proposul will
include, but nut he Iimued to, the name of the certifkd rnitigatiull ....olllpany; pn)\'I.\lllnS for paYJ\1ellt~ .mJ l'oll1plctioll Jatc for COrrcdJvc
measures.
Upon receipt of !he l.orrccti.....e proposal. BUYER, withinli\c (.~) Jays, will:
l. Accept the corrcctive proposal and the property in writing, whkh wi!! comtitutc a n:h:ase :1\ wt forth in paragraph,~ below; or
2 Declarc IlIb agreement NUl.L AND VOID, in whidll.:aSe all Jepmlt monic:; paid 011 al.:....IJullt will Ill' prumptly returned to BUYUt
Should SELLER fail to submit a writtcn l.:\lrr~l:tivc prtlpo:;al wilhilllh~ til1le .'d fUl1h ill pal'agraph , fill. lhL'1I !HIYER will. wilhin lh'e (5) dil)Y
I. Al.:l:epl the prupcrty in wriling, whi~h will CUJhlilUle a rd.:asc: a:; ~et t'urth ill paragraph .~ heluw; Ill'
2. Declarc thi~ agrecment NULL AND VOID, in which l.:il\e all Jepn:;lllllonics piliJ 011 al...l...(~lIl1'.... ill hL' pnJmptly rctUrrll'lIlo BUYER,
It BUYER ftllls 10 excn:be llI1Y of UllYEI('S options within Ihe lime limit ~pccUicd In thi."i addendulII. 1111'11 UUYER shllll be deelUed 10
have accepted the proJ)cl'ly und 10 hlll'C ll~rccd to the rcll'usl' II." sl'l forth in p"ru~r.llJh ~ hdu\'\!.
~ RELEASE -- BUYER h.:reby rcka:;e"" quit daims und f\lreH'r dlsL'llal'gl..'S SEL.LER, ALL A(il:NTS. lheir Sl:BA(iENTS, E\1PI.OYEFS and
'<....:-/ any OFFICER or PARTNER tll' any 0111.' ,)f thclll and allY (lthel' PFRSON. ':IRM Ill' ('ORI'OIt\TIOI'\ \\hl) lllay he liahlc hy (II' lhroll/!h lhl'lll.
from any and nil dailll.~, los'ies or dClIHlnds, illdlllJing persOllilllll.JlIrll'S, alld all of Illl' L'UJI'l'qlll'Ill..'C' llll'fl'pl. \..-hL'lhL'1' llOW knuwll nr not. \~hkll
may ari.~e from the preSl'Il...L' III radon ill all)' huilding ollth~ pru[lL'Il}. ThiS reka\l' \h;dl 'lll\l\l' 'L'llkllh'lI!
WOOl> IN~'~:S~~ON '\()IlENULJM TO AGREEMENT Oil SALE
I. Within _ ~_ days of Ihc eXC:l.:ution of lhis agreelllclIl. X. Se:lkr. at Sl'lIcr':. I.:\Pl'II'l.:. !llI)l.... ;11 BIl)'er', C:~pL'I1\C.', lIo'ill ord!.:c II
written "Wood Desln'yin~ 11I:'lcctlnfestiltiofllllld Structural Damage l~pl~lI.t" frolll II l'epulahle I'l',1 ('Ilnlnll ()Iw/,.llor and promplly deliver il ami
all supporting do,,:ulllcnt:; and drawings provided by the Pest COlltl'ol Operator hI the: lllhc:r parlY The I'l'plll't \vill hL' madc sati~factory to and In
l:ompliance with applicablc law~, mortgage ilnd lending in....tilutiullS, and/or 1,'L'Jerallll:'lurin),! and (iU;lI'anll'elllp Agl.:llL'Y requircments, if any. Till'
inspection will indudc a I rcul.hly .....hible and al.:cessible an:as of all slnll:IUrcs un the Propert)' L':\l..'L'pt lhl' fllllowin!! ~Inlcturc~., whil.:h will mlt be
inspecled: '(2f../E__._______,..____________....__________ __ ._ ..._..________. _
2. If the inspection revcill.~ c:viJclll..'c of al.:tlw infestillion(s). previolls illkstilliol1{sJ and/ol' SlrllL'lll!'al dalll;l!!l' Wllklllla\c nllt hCl..'11 (oHel.:t('d, Sclkr
agrees, ut Seller's cxpcn:;1.: ;lnd hefore sC:lllt:llll:nt, Iu [rcal for <11.:11\.... il\fc,lalloll:-' .llld 10 ;ldvi'l' Hu]n pf'lllllpll~ \..hL'II1I.'I' SL'llcr will repair allY ~trlll.
tural damage from al.:tivc or previous infest.lrions.
3. If Seller el~l.:t:; to repair '>\rllL:IUral damage I"eveabl hy Ihe repurt. BU)'l,'r agl'l.~L" to aC(l.:pt thl' 1'['lllh.'ll) .1' r{'paircd .11lt! agrcL'~ 10 11lL' REI.EA,-l!'.
:;et forth in paragraph 5
4. If Sell~r elects nol LO rqldir ~Irlldllral damage re....L'akd by IhL' rl,'pllrt. 11I1)'L'r. \',ilhin ) day~ (If I'C......:l\JI1t:' SI.:II\.'r\ Ihllll'I.' (lJ hdllle ~l'lIkIllCIlI.
whichever is ~ooncl', wil1nulify S~IlL'l' ill writin!!, of Buyer\ ekL'tl'llllll
(A) ;.I~l.:ept [he Prop!.:rly \~llh lhc dekds rC\L'akd by the' impl'L'liull. I,),lllllllll .lhalellh.'ll( (Ii' Pllll' ,llld \II ,1,ccll'\'I,' lh...I{I.l.I':;\SL;I\ ~ct f'J1'111111 1'>11.1
graph:; of thi~; ilddelldlJlll. OK
IB) bc n:paid all 11 lUll Ii.':, !1,lId un ;I(l.:uunl (lflllL' pun:hasl.: pri(l'.IlJ!C('lll..:r \\1l11 Bll!el'~ L'\pl.:II'l'~,11 dll~. .I~ 111,\: 11.I\l' )"'1.'11 I 1lL"l1 ITl'd \11 jJl'J\I\kd 1\11
under lhi.) agrel'lIIl.:llt. Illl..llHlil1!!, hilI llot limited tn:
J. Can..:cll<llioll kl' 1,\1' !ltk ill\uraIlL'l.,' Ill" ;d)~tral.:t fn.' for '~'ar\llIllj,; lllk
~_ C;uk'l.dlali(lll h'l' Ill' hilhk'r(hilq.'l' I'll!" rtrL' ill~uralll'L' ....1111 \'\ll'lldl.'d Lll\l'LI!!"' illldhll' 11\',111111',111;\1;1." 11.111\
.'. Appraisaltl.'c'" I.rl'.llt 1l..'[1illll.:hall;I.:S, ,1I1d/Dr :;ll!'\C) l(l'l\.
IUlhi\ ....asl', Ihl.'l"l: "h.dl hI.' JlO IUl'lhL'Il1:1hdlly Ill' (lhligallolllld Il\l'IIIJ~~'I" llr Sl'lkr. ;Ilhl !111\ ,\.~!1"t'1'1l11'1l! Ii! ."i.d,' ~ll,dl h\'...lllll.... ~I 'II. \:\ll V( liD
If Huyr:r (aib [u lIUIil'y S-:Ikr pf Bll~L'i'\ l'I.:llhlH wilhllllh..: llJlll' ,llltll1L'd. BIlYl'l' \\111 h;l\~' dl.'ll'pll'd !Ilt' PllIjl"II: .' pnl\likd In 11,IIa!!rapl1-II,\1
(If Ihis addt:IlJullJ.
5. RELEASE - Buyer, upon ,h....e:pt;lfll<: (li' the: P!'opcrty. hel'dl~ rl'ka\e'" quil d,llllh. alld It 'I'l'\ l'l' dl"dl.ll'!":~ SI I ,IlK :\11 A( il':,'\j 1".\. Il1l'll" Sl 'Ii
AGENTS, EMPl.OYEES. alld ,Illy OH,'ICFK (II' PARTN(~R of all~ llllC (1Il!H:1II afld ally. "lhl.:l' l'I:lotSI ).~. t.IR:\I. 1\1 ('( )RI'( IRAI'lI)~ ....llll 1l1,1~ l'1'
held liable hy or Ihr'ltl~'h IllL'III. t'nllll any alld all ..:I,lims. los~e' 111' dL'llland,. in....llldll1j.! Pl'I'11Ildl l!lll1l1l'\. 0111<1 ;1111.1 tILL' ((1l1'L'ijlll'11(L'S thell'IIL
whether nuw klhlWll 'II' 11111. \~hll.l1 ttw,. .It'i,1.: I'!"llll IIlL' (lrL"l'll....e 11/ k'l'Illlll''i ill' lllher ....lllld h'lrllll' IIl'l'll~ III .'11) hUlldlng (111 thL' PrllpL'rty lhl'
rekil-'\l' ',h~JJI ~ur'..I"'': \L'uk 1',"\1
All other term:; and l:llndiliolh of tilt: \aid agreclIlc:nt shall remain lllldJallgl.'d ,lI1d in full fOClC allll d"fL'i,:t
CERTIFICATE OF OCClII't\NCY t\UUENDtJM TO AGREE!\"'N'I' OF SALt-:
I HUYER/SEU.EH a....klltlw!cdllL' that. pfillr 10 (lL'I.:Upan..:y, a l.:L'rllliL'a!e m,l)' hL' rcqllll'ed hy Ihe IlllllllLlpallly
~ If a ccrlitkalc i:i rClllllfCd. ,hl..' SELLER \hall. al SELLER'S l''lpl'n,l' and w[lhin tilkl'll da'n lit tIll' l"'l\', 1I11".llll rill', .Iddi'lldulll. nrdl'l' llil' l'l'l'IlfI
Io.:at~ for delivcr)' TO TilL !Hi YI~R (~1l111' hL'I,I!'L' .~elllemenl
1 In Ihe e\~llt rL'paH"lilllpl'll~l'llll'l1h dfl.' IcquirL'd r,lf the i'iS\J;lll....e (if llil' ll.tlllt,'ak', llll' SI-II J1{ ,1\;111 PI"lll(llh ,lIh 1,\' 111\' BPYH{ lit' 'lllh l'l'qlllll'
lIlcnls and nolI!")' Ihe !Il'YLR. l~hl'd)l'r (h.... ';l1ll t'epalJ",lirnprll....L'lllL'llh \~dlll\' IlLldl.' .1I1h' SIJ Ci'.R'S npl'll"l'
,~ If lhe SFU,ER eke!'. !\lll III lIl.lkl' ~h~' 'aid I'l'ptlr\!itllpnlh'!lll'lIh llil' BI'Y~ I{ '.h,111 1t.1\l' Iii,' "1'111'11 I" <I" \'II!III:' Ih.. 1"\PPl1\lhllll'y ,,\1' ',;(1.1
repair'illlllpmVI.:Il1t:llt, \11' kill).' 1'..p,lId allll1tllllL', paid hy Ihc IH'YI'I{ 'III I" 'Illll( "I 111'- I'Ul' 11.1,,' pi I< t. 11111,,- 1.111,'1 "\\'IH, 1111'[,' ,h,dllw JIl\ 1111111l'l
h,lhlllty OrUhltg'IIHIl\if'l\ JJth I ,,j h\'l'oI.11~' IIL'll'!!' .llld lhl' \~lll't 1211. Ill, ~lk ,II ill kl'lIll' \.1 II \\.1) \1 JIll 1\1" f J.l \11.11111'1[11.... Slllll~ III
wnllll~ 1,h~/II~~rtl'l 111.j(l. l' i ?'J?" 'I!!ll~\t 'r ~ r..:<l'l\l" Sl I S ,\"!I,#~trr' III d.. 1'1 III "I IIIIIII'I\( llllnl ~ I
WIfNI,",", /1Uf(l/JU J. '/ i t:Ura-/ III \Ill t l! ./(11!:14.-- 1>\11 '7-;17- 'Ii>
WIfNK'S r". III \Ill 11\11-
WIfN.S~ "IIlIUM: "\. ~ 0. J f1. ...,,,J II\U
WIfN..'i" ~_<~-~- 7"',.-' A::-'~---- 'i11""/'vV<h~~ (4w-..A...P 1>\11 lo[,s-/rr[.
WII~.::sS -~ . ~"IIH( (I\U
WITN.;'iS SII.II.II Il,\ n:
ID. "...n.'tyan.. A.eod.t'on of C IJl''yIWjllJ' 1'''~''''.'''''I''\'l,jI,\\''''''iOII.\nON Ot Mt..\UOIl\'JlIQlkl
REALTORS'" \'JI'II'; 'hlllll 'dlllll )1:11''h \1,I~jll'l~d( 1\11'(1-1\I,lltl'l
Ik<t_.........."'__ I,lllll ,liMH.N .INfI
MORTGAGE CONTlNta:NCY ADDENDUM TO AGREEMENT 01' SALE Form 126-6
A; . .JaTl.:rl1~ ';119 9~
oRE: PROPERTY 7"f" cJ. ~L.;17/IEET - ..1111,P,PEAI='J'VAf'a )(1#
:~~~: --w1"~ LJ~~AJI=7lJo; ~.IQb
"DATE m" AGREEMENT ___ ~r .:12__ 19 q~__
1. Murt&UKC temu n:~uin~J hy Uu)'cr. AJJ!()unl uf lIH>rtguKC' luall S ._~~:f6j~___m_...__ _ . Term.
I~p< or murtgage ] _.CO.fJJiEN1lflA. /$_ _ ____. ______ ------- .. -
Interest rale ..______ _ .______ %; hu.ettr, B:y)'tr alRlllu IrctJ1llhe Inl,rel. rile u mlY be l"ummhtcd by the' mortK1ac lender. nQllo txceed ..ndruum
lale"" rate o( .__ %. rite: IIllu.unum mUr1&JKc Inlcr\"~1 rule pru\'lliloll ollhili conllngclIl.:)' ,1",11 he dccllled IUUUl\C\J II it munallSIt lender
mak.cs uVllilable 10 Uu)cr the ri~hl h) guarantee an intC'rcll rlltc III or l'll:h)w the Mlldmum InlC'rclil Nuh: spcdlkd herdn.
2. Wllhin ten(IO) days orSdlcr'lj uppm"ul ofthb ^Krccltumt. Huyer ahulllllukc U I.:ompletclt. wrinen mortKII~C' IIPI,lkllllul1 to 1I rtllponllihlC' l1lol1lDllc Icn..JlnK
Institution throuah Ihe umce (If SuhUKent for Ihe Scllcr,lf any. olhcrwi~l~ IhwUKh Ihe ()Ilit.::e uf Ajel1llur Ihe Seller. ",ho, 'or tbt PUrpoMI o'...od.d.. 'or the
..41 ..urtPlf 101ln. shall bl' con.aidtrtd th. Alcnl 'or Ih. BUY'r,
(A) Buyer will, upon receipl of II morlgllKe commitment, pro~..!ly rmwi..Je II copy 10 Sc:lil:r, ^~cl1ll1nd/ur Suh..Ll....nl. if un)',
(8) Mona_Ie commitment dUle A/(}IJ. . JtL . ll}~, tr II wrlllen ....ulllnlillllcnll" 11111 rccdved by the .bove ..Jule.
Bu)'tt IIPl'II to nlrnd Ihe commllmltnl dll. ..ndl SeU., t.nalnlln _hili AI~l'menlln ","dnl'
(e) Should the mortM,ugc commilment
(I) not be valid Ul1llllhc dlllC of senlement, or
(2) be f:ondhiol1rd upun 1111.: .ale .nd lCul.ment 0' III' ollNr prupert)'. 01
(3) conlain ony olher condition not !~pc.'dlied in this Ajreement.
S<:lIer has the opllon to lerminule Ihls Agreement in writins,
(D) In Ihe event Ihat the Sl."lIer IcrminlltC'lt lhillllgn:cment as spL"f.:llied in pllrngrup:u J(C) (2) IIr (3). OK
(I) the mort&uge cummilmenl i:'i nol ohlllincd b)' or valid uJltillhc: dnt... Ill' ~eltlcn\C:llt, or
(2) the mortallse cummilm...nl is conditioned. upon the Iale Ind Mltlemenl 0' In)' olh" propert)' whif.:h d.o lIullll.:....ur by Ihe: dutt of scttlement, or
(3) the morllut!:c conlluitlllcnt contllim un)' olher concJitlon nul !lpcdlied in this ^ttr...elllclIl whif.:h Ihe Bu)...r i.Ii unuhle to sutisfy by the dule of
settlemenl.
the Bu)'er Ihull not he required 10 pun:hu!le the property and 1111 depusil monks paid 011 account ,hllll be relurned 10 Ihe 8u)'..:r. CAcept uny premiums for
mechanics lien Insurance and/or tide &eurch, or fee forf:ancellation of SIIIne. if uny; AND/OR any premiums for Huod imuranct and/or nrc: insurance
wilh extended cove rag..:. insurance binder chu'Bel or cancellation fl."c. if any; AND/OR any appraisal fel.!s IInd charge:s paid in Advance to
monalaee. if ony,
4. Seller hereby aareel to pennit impectiol1s by aUlhorized apprllisers, repulable ccrtifien und/or Bll)'l'r Ult may be rl."lluired hy tht Icnding institutions or
Insurin. agendes.
/"
..y---.-...---....
ytafPJ.
J.
FHAlVA ENDORSEMENT, IF APPLICABLE
j. Maximum mortIlBgcJi~c()unt pUlnl:i, ifunY.lo be paid by Selltr: __'.\J uf Buyer's Mur1gag..., indlldill~ HIA Ii n..'h,:....d Mortgage Insurance Premium
(MIP) ar VA runding ree.
6, It i. exprelsly agrted thut notwilhslanding uny other pro...I.,ions oflhi... lo7ontntct, the Buyer .hall not be ohli~nlcd tn cumplele the PUn:h1l8C: oflht property
de~ribed herein or 10 i'llo7ur LIllY pellalty by forfeiture of carnelltn1one}' d....posil.'i orotherwis.... unk", Ihf",' IlU)W hot'i h....l'll ~,.i..l.'1l illlllo7l.:urtlunl.:c with HUD/Fl-IA
orVA requiremenlsa written 'i1:lll'IlII'l\1 hy Ihe Fclierall-luu~il\gColllllli~sinncr, Vcl....rans Admin;slrullt11t, llr a I)in'~.ll; lldor'-H."m",nlll."n(ll."r ~eltinK forth the
apprlised value orlhe property of nul !i:ss than $ . (Ih... Jollar Jmuunt In hl' 1IlSl'rll."d i,'i Ihe sale8 prit.:e all slat...d in the
Agreement). The Buyer shall hll...... Ihe privilege and oplion or procceJing wilh comununation of the lo7onlra....t "ilhoul regurd to the lImount of Ihe
llppnlised valuation, The appraised valualion i. Jrri\:cd at lodetemlinc Ihc nWJlimum morlgage lhe DI."!nrtnll'nl of Ilou:-.ing and Hurhan Dc...c1opmenl
will i",urc, HUDdoe. not warrallt Ihe value nor Ihe condilion cflhl." property. The DlJyershould salisfy hilllsdf/hl'r'iclflhllt the price andconJition of
the property arc llccelltable,
7, Wt. thc undersigned, the lteller(s) and Ihe purchascris) party (0 this lrun..action, e:ul.:h certify thullht rerllls of this l.:Olltrllf.."t lot purcha8e lire lrue 10 our best
knowledae and belief, and Ihat IIny other aareement entered into by any of these punies In conner.:lion with lhi"i lransllclion. is attached 10 this
Aareement of Salt.
., "... .-..., .."'~"~~ ~"'"' ..." -,," ....".,,~P') "7 '
WITNESS aJi;/1J1tJ. Il.l1"4~~c~..,,/ BUYF.R~ -11J.j~
WnNESS -f3----- BUYER n ~--' ..
WITNESS ---- BI!YER -"",~----It------- n e ~tdJ--
WITNESS ~<_____.."... ~~" Sr.lJ.F.R ~~(- -.... 1iZt.____
WlTNESS_______________ SEU.F.R -----_____________________._
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DATE-1f)JlcJ96
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For t"JIAJ'VA lDUll 0.,,: We, lh~' under'i1tCl\cll hrllkcr.. m....ol......d inlh... 11,11\'",..'111111. calh ..:alit') Ih.lllhe lcrlll' ofrlll'\ I;OllI r,l<.:! 1'1Ir purchi"'l' Ilrt frue loour btill
k.nowt~dle and belief, llnd lhal ,Ill) ,'IIH~r ,lhlr....otnlcnt ...ntered \Iltu~.,. ,111) (If Ihes... partil'~ In l.:Olln...ctlnll ....ilh Ihh tl.III~.tdlllll l' ~11I;h;hcd 10 Ihill A,reemenl
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.~GENT fOR SEUER
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SlIB,\(a'NT H)R S.:I.1..:R
BY:
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CO"'I': INHIU, 5I1Ll.I" VILI.OW. A'~I!Nr "'INK,IU'f&A. Blull MOlllrr.....(ifll
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IIOME INSI'ECTI<')!'I - AllHENIHJM TO A(;I{EEI\IENT OF SALE
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RE: PROPERTY... 1-'/ ,'J, ?III'! :.?(I.'f;!,/ -- "i/I;!ljJI;:AlV-;,;/C'
SELLERS: _ I)'OI<tM'jIJ __tiE-' ..r.2/11/1!;'/</.:J&./j.!/Z
IIUYERS: III/JRK C . .lJcodL n_ __u_ ___
DATE OF AC;REEI\IENT: .:h.<7 1'1.%., SETrI.EMENT DAlE:
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/ ~'..J119_'7;LsAi.E I'Ri<i:- S -j:2. atJ,-:'
I. Buyer is herehy ~iven Ihl' ri~ht. al Buyer's e~pense. In dellvel III Agenl for Ihe Seller. if any, otherwise III Seller.
wilhin ___ _ . days oflhe eXl,<:uliou of this a~reelllent. a wrillen inspe':lion report by n proresslonal eontrnctor ur
hume Inspection senlce. Buyer's FAILURE TO DELIVER this replln wilhinlheallollcd time rcnders this addendu1ll
NULL AND VOII>. in whkh .:ase lIuycr agrees 10 Ihe release set t<Jllh inparagruph 5.
A The in.spection reporl will nOle any defeels in (,OVERED ITEMS. COVERI'D ITEMS. as used in Ihi>
addendulll. shall llIean colle':lively: struelural cump"ncnls; ",or cmcrings; exlerior windows and ext<rinr
doors; exterior siding, rasda, gullers, and downspouls; llpplinnees; l'lel'lrio"l. plumbing. healing. and cooling
!tl)'sll'lIIs; ____ __.._.._,___ __....u~ ..___________
B. Excluded rrum Ihe (,OVERED ITEI\IS, even if reponed. arc 1llainl,'llan.:e. sile. waler penetration. .lnd
t.:oslllclk items. 1I1lkss thL')' have a dl,,'trillll.'1l1all'I'fl".:t "Il llil'"lnh.:tur;lI intL'g.rily of the d\\.'l'lIlllg. ilnd the
followin!!. if any: ______. _______.__ _ _______________._____.
2. Buyer agrees 10 pllr.:hase the property in its PRFSENTl'ONI liTH IN. normal wear and tearexecplcd.and agrees 10 Ihe
release as sel fonh in para~raph 5 UNLESS Ihe Iota' eosllo ':llHeel all repoll':d lkfcclS in COVI'RED ITEMS
EXCEEDS $ ________ _________
3. SELLER'S Dl!TIES/OIrI'lONS:
If the lolal cost to .:onect reported defeels in COVERED ITEMS EXCEEDS the amount in pilragraph 2. Seller will.
wilhin ________ days of receipt of Ihe report, submit a written nOlice 10 Buyer in wr.ich Seller clCCIS one of the
following options:
A. 'n, make repairs hefore settlemenl so thatlhe remainin~ .:mllo repair defe.:ls in COVERED ITEMS is I.ESS
THAN OR EQUAL TO the amounl in paragraph 2: OR
B. "Ii) credit Buyer at scltlcmcnt with the dilTcrcn..:c hctwL'\..'11 thl' estimaled amount to repair the defcct... ill
COVERED ITEMS and Ihe amounl in paragraph 2 (this oplion must he acceplable 10 the lIlorlgagc
lender): OR
C NOlto corrector credit Buyer al settlement Ii>r any reported defects in COVERED ITEMS.
4. BUYER'S DUTIES/OIYI'IONS:
A If Seller cleels option 3A or 3B. Buyer will purchase the properly and agree 10 Ihc release .let Ii>rlh in
paragraph 5_
B. If Sel"" elects nOllo repair or credil Buyer at sclllemenl (.!( -J. or if Sellcr fails 10 elect any option as specified in
paragraph .1. /luyer will, within _______ days. eilher.
(I) lerminate the Agreement of Sale in writing. ill whi~1i ,:;lSt' ;111 dl.'rosit monics paid on i1l.'COllIIt \\'ill hl'
r,'11I rned 10 Buyer. OR
(2) he dCI..'Illt.:d 10 have Jl.:l.:cptcd the pnJpcny with Ihe dC.'!'l..'l.'h rc\cakd hy tilt.' in~pcction anti tu hilvL' :l!!rl'l'd II I
the rcle,,,e scl Ii>rth in paragraph 5.
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RELEASE - Buyer hereby releascs, ljuil daims and Ii>rever dis.:harge.s SELLER. SELLER'S A(iI'NT
SUBAGENTS. EMPLOYEES. and anyOFFICERor PARTNI;R or anyone "flhem and any other PERSON.I.IR~l
or CORPORATION. who may he liahle by or through them. from any and all claims,losses or demands, includin!,
personal injuries, and all oflhe conseljuenees Ihereof, where now known or nOI. which may arise rrom any defects in
the property. reported or not
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