HomeMy WebLinkAbout02-07-07
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15056041125
REV -1500 EX (06-05)
PA Department of Revenue.
Bureau of Individual Taxes INHERITANCE TAX RETURN
PO BOX 280601
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
County Code Year
2 1 0 6
File Number
o 5 9 6
Date of Birth
211226804
05102006
09081928
Decedent's Last Name
Suffix
Decedent's First Name
GARDNER
CHARLES
MI
B
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix
Spouse's First Name
GARDNER
BETTY
MI
A
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WillS
FILL IN APPROPRIATE OVALS BELOW
00 1. Original Return
o 4. Limited Estate
00
o
o 2. Supplemental Return
00 4a. Future Interest Compromise (date of
death after 12-12-82)
00 7. Decedent Maintained a Living Trust
(Attach Copy of Trust)
o 10. Spousal Poverty Credit (date of death 0 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. 0)
CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
o
o
3. Remainder Retum (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
6. Decedent Died Testate
(Attach Copy of Will)
9. Litigation Proceeds Received
8. Total Number of Safe Deposit Boxes
W I L L I AM A D U N C A N 7 1 7 2 4 9 7 7 8 0
Firm Name (If Applicable) REGISTER OF WILLS USE ~ y
D U N C A N & H A R T M A N P C ("""") c;c::o>
, :--- =:::
First line of address -"
rrt
co
1 I R V I N E R 0 W I
Second line of address -oJ
~
City or Post Office State ZIP Code DA T.f:;:ILED 0,)
.'....,1
C A R L I S L E P A 1 7 1 0 3 U1
Correspondent's e-mail address:BILLDUNCAN@PLANETCABLE.NET
Under penal1ies of pe~ury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief.
it is true. correct and complete. Declaration of preparer other than the personal representative is based on aU information of which preparer has any knowledge.
SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN DATE
Y3~ a. ..!Jd./?--e/~A/ ~-~ -t!' 7
ADDRESS
214 THREE SQUARE HOLLOW ROAD NEWBURG PA 17240
SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE
ADDRESS
1 IRVINE ROW
CARLISLE
PLEASE USE ORIGINAL FORM ONLY
PA 17013
Side 1
L
15056041125
15056041125
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15056042126
REV-1500 EX
Decedent's Name: CHARLES B. GARDNER
RECAPITULATION
1. Real estate (Schedule A)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1.
2. Stocks and Bonds (Schedule B)
....................... ........... 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3.
4. Mortgages & Notes Receivable (Schedule D)
............. ........... 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ....... 5.
6. Jointly Owned Property (Schedule F) 0 Separate Billing Requested . . . . . .. 6.
7. Inter-VIVos Transfers & Miscellaneous Non-Probate Property
(Schedule G) 0 Separate Billing Requested. . . . . .. 7.
, 8. Total Gross Assets (total Lines 1-7)
................ ........... 8.
9. Funeral Expenses & Administrative Costs (Schedule H) . . . . . . . . . . . . . . .. 9.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) . . . . . . . . . . . . 10.
11. Total Deductions (total Lines 9 & 10)
. . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Charitable and Govemmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) . . . . . . . . . . . . . . . . . . 14.
TAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2) X.O _
16. Amount of Line 14 taxable
at lineal rate X .04~
17. Amount of Line 14 taxable
at sibling rate X .12
18. Amount of Line 14 taxable
at collateral rate X .15
281148.34
15,
389960.08
16.
o . 0 0
17.
o . 0 0
18,
19. Tax Due
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
Side 2
L
15056042126
Decedent's Social Security Number
211226804
o. 0 0
O. 0 0
6 9 6 6 4 O. 5 3
6 9 6 6 4 O. 5 3
2 5 1 9 7 . 1 1
O. 0 0
2 5 1 9 7 . 1 1
6 7 1 4 4 3. 4 2
67144 3. 4 2
O. 0 0
17548.20
O. 0 0
O. 0 0
17548.20
o
15056042126
-.J
REV-1500 EX Page 3
Decedent's Complete Address:
File Number
21 06 0596
DECEDENTS NAME
CHARLES B. GARDNER
STREET ADDRESS
214 THREE SQUARE HOLLOW ROAD
CITY I STATE I ZIP
NEWBURG PA 17240
Tax Payments and Credits:
1. Tax Due (Page 2 Une 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
17,548.20
13,000.00
684.21
Total Credits (A + B +C) (2)
13,684.21
3. InteresUPenalty if applicable
D. Interest
E. Penalty
T otallnteresUPenalty ( D + E ) (3)
4. If Une 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund. (4)
0.00
0.00
3,863.99
5. If Line 1 + Une 3 is greater than Une 2, enter the difference. This is the TAX DUE. (5)
B. Enter the total of Une 5 + 5A. This is the BALANCE DUE.
(5A)
(5B)
A. Enter the interest on the tax due.
3.863.99
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOllOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred; ...................................................................... 0 00
b. retain the right to designate who shall use the property transferred or its income; ............................... 0 00
c. retain a reversionary interest; or ................................................................................................ 0 00
d. receive the promise for life of either payments, benefits or care? . ............................................ .......... 0 00
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? ....................................................................................... 0 00
3. Did decedent own an 'in trust for' or payable upon death bank account or security at his or her death? ......... 0 00
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ............................................ ...................................................... 00 0
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is three (3) percent [72 P.S. ~9116 (a) (1.1) (i)).
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P.S. ~9116 (a) (1.1) (ii)). The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an
adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116(a)(1.2)).
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in
72 P.S. ~9116(1.2) [72 P.S. ~9116(a)(1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)). A sibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
REV-1509 EX + (6-98)
.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF
CHARLES B. GARDNER
FILE NUMBER
21 06 0596
If an asset was made joint within one year of the decedenfs date of death, it must be reported on Schedule G.
SURVIVING JOINT TENANT(S) NAME
ADDRESS
RELATIONSHIP TO DECEDENT
A. BETTY A. GARDNER
214 THREE SQUARE HOLLOW ROAD
NEWBURG, PA 17240
SPOUSE
8
c
JOINTL Y.OWNED PROPERTY:
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
ITEM FOR JOINT MADE INCLUDE NAME OF RNANCIAL INSTITl1IlON AND BANK ACCOUNT NUMBER OR SIMILAR DATE OF DEATH DECO'S VALUE OF
NUMBER TENANT JOINT IDENTIFYING NUMBER. ATTACH DEED FOR JOINTL V-HELD REAL ESTATE. VALUE OF ASSET INTEREST DECEDENT'S INTEREST
1. 0.00
TOTAL (Also enter on line 6, Recapitulation) $ 0.00
(If more space is needed, insert additional sheets of the same size)
REV-1510 EX + (6-98)
.
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON.PROBA TE PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
CHARLES B. GARDNER
FILE NUMBER
21 06 0596
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the revelS8side of the REV-1500 COVER SHEET is yes.
DESCRIPTION OF PROPERTY
ITEM INClUDE TIE NAME OF THE TRANSFEREE. THEIR RElAll0NSHIP TO DECEDENT AND DATE OF DEATH % OF DECD'S EXCLUSION TAXABLE
NUMBER THE DATE OF TRANSFER ATTACH A COPY OF THE DEEO FOR REAL ESTATE. VALUE OF ASSET INTEREST VALUE
(IF APl'UCABlE)
1. 214 THREE HOLLOW SQUARE ROAD 135,000.00 50. 67,500.00
NEWBURG, PA 17240 - APPRAISAL ATTACHED
LIFE ESTATE TO SPOUSE BY LIVING TRUST-ATTACHED
2. MOUNTAIN LAND OFF OF MOUNTAIN ROAD 33,600.00 50. 16,800.00
NEWBURG, PA 17240 - APPRAISAL ATTACHED
LIFE ESTATE TO SPOUSE - SEE ATTACHMENT
3. 1999 CHEVROLET SILVERADO 6,750.00 100. 6,750.00
LIFE ESTATE TO SPOUSE - SEE ATTACHMENT
4. WACHOVIA BROKERAGE ACCOUNT# 35955905 1,189,073.48 50. 594,536.74
LIFE ESTATE TO SPOUSE - SEE ATTACHMENT
ITEMS 1-4 PASS TO TRUSTEE AS PER LIVING TRUST
INCOME TO SPOUSE DURING HER LIFETIME
TAXED IN ACCORD WITH SCHEDULE K
5. WACHOVIA IRA ACCOUNT 11,053.79 100. 11,053.79
PASSES TO SPOUSE BY BENEFICIARY DESIGNATION
AS ITEM 5 PASSES TO SPOUSE BY DESIGNATED
BENEFICIARY ON ACCOUNT - TAXABLE AT SPOUSAL
RATE AND ADDED TO LIFE ESTATE ON LINE 15 AS
PROPERTY TAXED AT SPOUSAL RATE
TOTAL (Also enteron line 7 Recapitulation) $ 696.640.53
(If mor.. ~nlll"" i~ n..Arl..tl iM..rt Iltltlitinn;ll ~h....t~ nf th.. ~llm.. ~i7")
REV-1511 EX+ (12-99)
.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
CHARLES B. GARDNER
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
FILE NUMBER
21 06 0596
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. FOGELSINGER-BRICKER FUNERAL HOME 8,658.40
2. NEW HOPE BANQUET FUND - FUNERAL EXPENSE 302.89
3. FOGELSINGER-BRICKER FUNERAL HOME - OPEN GRAVE 350.00
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative (s)
Social Security Number(s)/EIN Number of Personal Representative(s)
Street Address
City State Zip
Year(s) Commission Paid:
2. Attomey Fees DUNCAN & HARTMAN, P.C. 13,711.74
3. Family Exemption: (If decedents address is not the same as claimants, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent
4. ProbateFees REGISTER OF WILLS - OPEN ESTATE 99.00
5. Accountants Fees
6. Tax Retum Preparer's Fees
7. CUMBERLAND LAW JOURNAL - LEGAL NOTICE 75.00
8. THE SENTINEL - LEGAL NOTICE 129.77
9. ADDITIONAL PROBATE & FILING FEES REGISTER OF WILLS 500.00
10. DIVERSIFIED APPRAISAL SERVICES 214 THREE SQUARE HOLLOW ROAD &
10.29 ACRE TRACT OFF OF MOUNTAIN ROAD, NEWBURG, PA 600.00
11. WSEMS CHAMBERSBURG ALS - AMBULANCE 770.31
TOTAL (Also enter on line 9, Recapitulation) $ 25 197.11
(If more space is needed. insert additional sheets of the same size)
"",."" """.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
CHARLES B GARDNER
SCHEDULE J
BENEFICIARIES
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not Ust Trustee(s) OF ESTATE
I. TAXABLE DISTRIBUTIONS [Include ~ht spousal distributions, and transfers under
Sec. 9116 (a (1.2)]
1. BETTY A GARDNER Spousal
214 THREE SQUARE HOLLOW ROAD LIFE ESTATE
NEWBURG, PA 17240 INCOME ONLY
2. ANTHONY CHARLES GARDNER Lineal
137 HASSINGER ROAD 25% REMAINDERM
NEWBURG, PA 17240
3. CHRISTINE ANN VARNER Lineal
3910 CAMPBELL CIRCLE 25% REMAINDERM
ORRSTOWN, PA 17244
4. JANE L. BENDER Lineal
433 ENOLA ROAD 25% REMAINDERMAN
NEWBURG, PA 17240
5. BONNIE G. SHEARER Lineal
1700 ORRSTOWN ROAD 25% REMAINDERM
SHIPPENSBURG, PA 17257
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
FILE NUMBER
21 06 0596
(If more space is needed, insert additional sheets of the same size)
REV-1514 EX' (12-0.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE K
LIFE ESTATE, ANNUITY
& TERM CERTAIN
Check Box 4 on Rev-1500 Cover Sheet
ESTATE OF FILE NUMBER
CHARLES B. GARDNER 21 06 0596
This schedule is to be used for all single life, joint or successive life estate and term certain calculations. For dates of death prior to 5-1-89,
actuarial factors for single life calculations can be obtained from the Department of Revenue, Specialty Tax Unit.
Actuarial factors can be found in IRS Publication 1457, Actuarial Values, Alpha Volume for dates of death from 5-1-89 to 4-30-99,
and in Aleph Volume for dates of death from 5-1-99 and thereafter.
Indicate the type of instrument which created the future interest below and attach a copy to the tax retum.
o Will 0 Intervivos Deed of Trust 00 Other
LIFE EST A TE INTEREST CALCULA TION
NAME(S) OF UFE TENANT(S) DATE OF BIRTH NEAREST AGE AT TERM OF YEARS
. DATE OF DEATH UFE ESTATE IS PAYABLE
BETTY A. GARDNER 1/29/1930 76 00 life or 0 Term of Years
o life or DTerm of Years
o life or DTerm of Years
o Life or DTerm of Years
o life or DTerm of Years
1. Value of fund from which life estate is payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
2. Actuarial factor per appropriate table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .40950
Interest table rate - 031/2% 06% 010% OOVariable Rate 5.8 %
3. Value of life estate (Line 1 multiplied by Line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
660,389.63
270,429.55
ANNUITY INTEREST CALCULATION
NAME(S) OF LIFE ANNUrr AHT(S) DATE OF BIRTH NEAREST AGE AT TERM OF YEARS
DATE OF DEATH ANNUITY IS PAYABLE
o Life or o Term of Years
o life or o Term of Years
o life or o Term of Years
o Life or o Term of Years
1. Value of fund from which annuity is payable .......................................... $
2. Check appropriate block below and enter corresponding (number) . . . . . . . . . . . . . . . . . . . . . . . . . . .
Frequency of payout - 0 Weekly (52) 0 Bi-weekly (26) 0 Monthly (12)
o Quarterly (4) 0 Semi-annually (2) 0 Annually (1) 0 Other ( )
3. Amount of payout per period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
4. Aggregate annual payment, line 2 multiplied by line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. Annuity Factor (see instructions)
Interest table rate - 03 1/2% 06% 010% 0 Variable Rate %
6. Adjustment Factor (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. Value of annuity - If using 3 1/2%, 6%, 10%, or if variable rate and period
payout is at end of period, calculation is: Line 4 x Line 5 x Line 6 ...........................$
If using variable rate and period payout is at beginning of period, calculation is:
(Line 4 x Line 5 x Line 6) + Line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
NOTE: The values of the funds which create the above future interests must be reported as part of the estate assets on Schedules A through
G of this tax retum. The resulting life or annuity interest(s) should be reported at the appropriate tax rate on lines 13 and 15 through 18.
(If more space is needed, insert additional sheets of the same size)
LAST WILL AND TESTAMENT
(pour-Over Will)
OF
CHARLESB.GARDNER
IDENTITY
I, CHARLES B. GARDNER, residing in the County of Cumberland, Commonwealth of
Pennsylvania, being of sound mind and memory, and not acting under duress or undue influence of any
person whomsoever, hereby declare this to be my Last Will and Testament, and I do hereby revoke all other
former Wills and Codicils to Wills heretofore made by me. My Social Security Number is 211-22-6804.
All reference made herein to "spouse or my spouse" refers to the person to whom I am currently
married, namely, BETTY A. GARDNER. By the ensuing provisions of this Will, it is my intention to
dispose of my interest in our property; I do not intend to dispose of anything belonging to my wife or to put
her to any election.
I have the following children: CHRISTINE A. VARNER born March 6, 1949 and currently residing
in Orrstown, P A 17244; ANTHONY C. GARDNER bom August 3, 1953 and currently residing in Newburg,
PA 17240; JANE L. BENDER born October 19, 1954 and currently residing in Newburg, PA 17240;
BONNIE S. SHEARER born June 29, 1958 and currently residing in ~'Bo~b... om, G~.I..1"Y'=
f'1<-''! }/j"".i 1~>.".:.iI I{.:"
.>"6-1" /'l..., lil^> 7
DEBTS, TAXES AND ADMINISTRATION EXPENSES
I have provided for the payment of all my debts" expenses of administration of property wherever
situated passing under this Will or otherwise, and estate" inheritance, transfer, and succession taxes, other
than any tax on a generation-skipping transfer that is not a liability of my Estate (including interest and
penalties, if any) that become due by reason of my death, under THE CHARLES B. GARDNER AND
BETTY A. GARDNER REVOCABLE LIVING TRUST executed on even date herewith (the "Revocable
Trust"), or if my spouse predeceases me, under the Survivor's Trust created by the said Revocable Trust.
If the Revocable Trust assets should be insufficient for these purposes, my Executor shall pay any unpaid
items from the residue of my Estate passing under this Will, without any apportionment or reimbursement.
In the alternative, my Executor may demand in a writing addressed to the Trustee of the Trust an amount
necessary to pay all or part of these items, plus claims, pecuniary legacies, and family allowances by court
order.
PERSONAL AND HOUSEHOLD EFFECTS
It is my intent that all my personal and household effects were transferred to the Revocable Trust
as a result of the Declaration ofIntent signed this date. If there are any questions regarding the ownership
or disposition of these assets, it is my desire that such assets pour into the Revocable Trust, signed by me this
date in accordance with the provisions of the section titled "Residue of Estate."
POUR-OVER WILLS
Page 1
.' ~ _/^;I_.di,,,,/ ,
/ 'I /{/ )~~7,j' ~
Gr ~ /y' ~~v.4/,(.1:..~~z-;::.l~///
(Testator/Testatrix)
RESIDUE OF ESTATE
I give, devise and bequeath all the rest, residue and remainder of my property of every kind and
description (including lapsed legacies and devices), wherever situated and whether acquired before or after
the execution of this Will, to the Trustee under that certain Trust executed by me on the same date of the
execution of this Will. The Trustee shall add the property bequeathed and devised by this item to the corpus
ofthe above described Trust and shall hold, administer and distribute said property in accordance with the
provisions of the said Trust, including any amendments thereto made before my death.
If for any reason the said Trust shall not be in existence at the time of death, or if for any reason a
court of competent jurisdiction shall declare the foregoing testamentary disposition to the Trustee under said
Trust as it exists at the time of my death to be invalid, then I give all of my Estate including the residue and
remainder thereof to that person who would have been the Trustee under the Trust, as Trustee, and to their
substitutes and successors under the Trust, described here in above, to be held, managed, invested, reinvested
and distributed by the Trustee upon the terms and conditions pertaining to the period beginning with the date
of my death as are constituted in the Trust as at presen. constituted giving effect to amendments, if any,
hereafter made and for that purpose I do hereby incorporate such Trust by reference into this my Will.
EXECUTOR
I hereby nominate and appoint BETTY A. GARDNER as my Independent Executor of this, my Last
Will and Testament, to serve without bond.
In the event the first named Executor shall predecease me or is unable or unwilling to act as my
Executor for any reasons whatsoever, then and in that event, I hereby nominate and appoint CHRISTINE A.
VARNER to serve without bond as my Independent Executor.
In the event the second named Executor shall predecease me or is unable or unwilling to act as my
Executor for any reasons whatsoever, then and in that event, I hereby nominate and appoint ANTHONY C.
GARDNER to serve without bond as my Independent Executor.
In the event the third named Executor shall predecease me or is unable or unwilling to act as my
Executor for any reasons whatsoever, then and in that event, I hereby nominate and appoint JANE L.
BENDER to serve without bond as my Independent Executor.
In the event the fourth named Executor shall predecease me or is unable or unwilling to act as my
Executor for any reasons whatsoever, then and in that event, I hereby nominate and appoint BONNIE S.
SHEARER to serve without bond as my Independent Executor.
Whenever the word "Executor" or any modifying or substituted pronoun therefore is used in this my
Will, such words and respective pronouns shall be held and taken to include both the singular and the plural,
the masculine, feminine and neuter gender thereof, and shall apply equally to the Executor named herein and
to any successor to substitute Executor acting hereunder, and such successor or substitute Executor shall
possess all the rights, powers, duties, authority, and responsibility conferred upon the Executor originally
named herein.
EXECUTOR POWERS
POUR-OVER WILLS
Page 2
{'>.//:;C/'t~~;~jt';~/".
(Testator/Testatrix) '-...
By way of Illustration and not of limitation and in addition to any inherent, implied or statutory
powers granted to executors generally, my Executor is specifically authorized and empowered with respect
to any property, real or personal, at any time held under any provision of this my Will: to allot, allocate
between principal and income, assign, borrow, buy, care for, collect, compromise claims, contract with
respectto, continue any business of mine, convert, deal with, dispose of, enter into, exchange, hold, improve,
incorporate any business of mine, invest, lease, manage, mortgage, grant and exercise options with respect
to, take possession of, pledge, receive, release, repair, sell, sue for, make distributions in cash or in kind of
partly in each without regard to the income tax basis of such asset and in general, exercise all of the powers
in the management of my Estate which any individual could exercise in the management of similar property
owned in its own right upon such terms and conditions as to my Executor may seem best, and execute and
deliver any and all instruments and do all acts which my Executor may deem proper or necessary to carry
out the purpose of this my Will, without being limited in any way by the specific grants or power made, and
without the necessity of a court order.
My Executor shall have absolute discretion, but shall not be required, to make adjustments in the
rights of any Beneficiaries, or among the principal and income accounts to compensate for the consequences
of any tax decision or election, or of any investment or administrative decision, that my executor believes
has had the effect, directly or indirectly, of preferring one Beneficiary or group of Beneficiaries over others.
In determining the Federal Estate and Income Tax liabilities of my Estate, my Executor shall have discretion
to select the valuation date and to determine whether any or all of the allowable administration expenses in
my Estate shall be used as Federal Estate Tax deductions or as Federal Income Tax deductions and shall have
the discretion to file a joint income tax return with my spouse.
SPECIFIC OMISSIONS
I have intentionally omitted any and all persons and entities from this, my Last Will and Testament,
except those persons and entities specifically named herein. If any person or entity shall challenge any term
or condition of this Will, or of the Living Trust to which I have made reference in the sections "Household
and Personal Effects" and "Residue of Estate," then, to that person or entity, I give and bequeath the sum of
only one dollar ($1.00) only in lieu and in place of any other benefit, grant, bequest or interest which that
person or interest may have in my Estate or the Living Trust and its Estate.
SIMULTANEOUS DEATH
If my spouse and I should die under circumstances such that the order of our deaths cannot be
determined, then it shall be conclusively presumed for the purpose of this Will that my spouse survived me.
If any other Beneficiary should not survive me for sixty (60) days, then it shall be conclusively
presumed for the purpose of this my Will that said Beneficiary predeceased me.
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CHARLESB.GARDNER
Testator
This instrument consists of 5 typewritten pages, including the Attestation Clause, Self-Proving
Clause, signature of Witnesses, and acknowledgment of officer. I have signed my name at the bottom of each
POUR-OVER WILLS
Page 3
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('t~stator/Testatrix) , (../
of the preceding pages. This instrument IS being signed by me on this
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day of
ATTESTATION CLAUSE
The Testator whose name appears above declared to us, the undersigned, that the foregoing
instrument was his Last Will and Testament, and he requested us to act as witnesses to such instrument and
to his signature thereon. The Testator thereupon signed such instrument in our presence. At the Testator's
request, the undersigned then subscribed our names to the instrument in our own handwriting in the presence
of the Testator. The undersigned hereby declare, in the presence of each of us, that we believe the Testator
to be of sound and disposing mind and memory.
Signed by us on the same day and year as this Last Will and Testament was signed by the Testator.
WITNESSES:
ADDRESSES:
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(Printed Name of Witness)
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POUR-OVER WILLS
Page 4
C:::':::~~::":';:;;;6:f~?'f ...
(Testator/Testatrix) ~
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
SELF-PROVING CLAUSE
BEFORE ME, the undersigned authority, on this day personally appeared CHARLES B. GARDNER,
and , known to me to be
the Testator and the witnesses, respectively, whose names are subscribed to the foregoing instrument in their
respective capacities, and all of them being by me duly sworn, CHARLES B. GARDNER, Testator, declared
to me and to the witnesses, in my presence, that the instrument is his Will and that he had willingly made and
executed it as his free act and deed for the purposes therein expressed; and the Witnesses, each on his or her
oath, stated to me in the presence and hearing of the Testator, that the Testator had declared to them that the
instrument is his Will and that he executed the same as such and wanted each ofthem to sign it as a witness;
and upon their oaths, each witness stated further that he did the same as a witness in the presence of the
Testator, and at his request and that he was at that time eighteen (18) years of age or over and was of sound
mind, and that each of the witnesses was then at least fourteen (14) years of age.
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CHARLESB.GARDNER
Testator
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.Wi.tness. \_, '
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SUBSCRIBED AND ACKNOWLEDGED before me by CHARLES B. GARDNER, Testator, and
subscribed and sworn to b~re me by and
witnesses, this the J... day of 'Fid:)('L;IX:::ill ' 'Zc.:.;c:-.C) .
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POUR-OVER WILLS
Page 5
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(T estatorlr estatrix)
mE CHARLES B. GARDNER AND BETTY A. GARDNER
REVOCABLE LnnNG TRUST AGREEMENT
DATED: ti"bNAQ.,L-( , I
BETWEEN: CHARLES B. GARDNER AND BETTY A. GARDNER,
AS SETTLORS
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AND: CHARLES B. GARDNER AND BETTY A. GARDNER,
AS TRUSTEES
CHARLES B. GARDNER AND BETTY A. GARDNER, residents of the Commonwealth of Pennsylvania,
County of Cumberland, do hereby establish a Trust upon the conditions and for the purposes hereafter set
forth.
ARTICLE ONE
Section 1.01 Trust Estate Defined
This Revocable Trust is formed to hold title to real and personal property for the benefit of the Settlors of
this Trust and to provide for the orderly use and transfer of these assets upon the death of the Settlors. The
"Trust Estate" is defined as all property transferred or conveyed to and received by the Trustee held pursuant
to the terms of this instrument. The Trustee is required to hold, administer, and distribute this property as
provided in this Trust Agreement.
Section 1.02 Definitions
As used in this Trust Agreement:
1. The term "Husband" shall mean CHARLES B. GARDNER.
2. The term "Wife" shall mean BETTY A. GARDNER.
3. The term "Settlor" shall refer individually and collectively to Husband and Wife.
4. The term "Descendant" shall mean the lawful issue of a deceased parent in the line of
descent, but does not include the issue of any parent who is a descendant of the deceased
person in question and who is living at the time in question.
5. The terms "Child" and "Descendant" include any issue born to decedent, a child legally
adopted by the decedent, and a posthumous child of a decedent. A posthumous child is to
be considered as living at the time of his or her parent's death.
6. The term "Survives" or "Surviving", unless otherwise indicated herein, shall be construed
to mean surviving the decedent for at least sixty (60) days. If the person referred to dies
within sixty (60) days of the death of the decedent, the reference to him or her will be
REVOCABLE LIVING TRUST AGREEMENT
Page 1
construed as if he or she had failed to survived the decedent; provided, however, that any
such person will have, during such period, the right to the use and enjoyment as a life tenant
of all property in which his or her interest will fail by reason of death during such period.
7. The term "Issue" will include all natural and adopted children, if applicable, and
descendants and those legally adopted into the line of descent.
8. The term "Per Stirpes" means strict per stirpes and does not mean per capita with
representation. Beneficiaries entitled to take under a "per stirpes" clause will include both
natural and adopted children and their descendants.
9. The terms "Trust Assets" and "Trust Estate" include all assets of any trust created hereunder
and income derived from such assets and all proceeds of any description derived from the
sale, exchange, or other disposition of such assets.
10. When required to give reasonable effect to the context in which used, pronouns in the
masculine, feminine, or neuter gender include each other, and nouns and pronouns in the
plural or singular number include each other.
Section 1.03 Trustee Designation
Husband and wife are hereby designated as Co-Trustees. The Co-Trustees shall serve jointly and severally
and either shall have full authority to act for the Trust independently. Should either husband or wife become
unable because of death, incapacity, or other cause to serve as a Co-Trustee, or should either resign as Co-
Trustee before the natural termination of this Trust, the remaining Co-Trustee, husband or wife, shall
thereafter serve as sole Trustee. The term "Trustee" as used in this Trust Agreement shall refer collectively
to husband and wife so long as they serve as Co-Trustees, to the spouse who serves as the sole Trustee,
and/or to any Successor Trustee who assumes the role of Trustee. These Trustees shall serve in the order
as provided in Section 9.01 of this Trust Agreement.
Section 1.04 Additions to Trust Properties
1. The Trustee, at any time during the continuance of this Trust in his or her sole discretion
after consideration of the possible tax consequences to all concerned, is authorized to
receive into the Trust additions of cash and other properties from any source whatsoever,
whether by gift, will, or otherwise. However, the Trustee shall accept all assets which any
person or persons may give, devise, or bequeath by Last Will and Testament to this Trust,
and shall accept all assets transferred to this Trust pursuant to the provisions of any other
Trust document or documents.
2. In addition, any person or persons may designate this Trust as the Beneficiary, Primary or
Contingent, of any death benefits to include insurance benefits, pension benefits, or other
benefits. Until such benefits mature, the Trustee shall have no responsibility with respect
to those benefits.
Section 1.05. Appointment.
The Trustee of the Trust is directed to apportion receipts and expenditures of the types described below
between principal and income as follows:
REVOCABLE LIVING TRUST AGREEMENT
Page 2
1. Whenever the principal, or any part thereof, of the Trust property is invested in securities
purchased at a premium or at a discount, any premium will be charged against principal and
any discount will be credited to principal;
2. Any stock dividends and rights to purchase additional stock issued on securities held in trust
will be treated as principal. All other dividends, except liquidating distributions, will be
treated as income; and
3. The amount of any applicable depletion allowance for federal income tax purposes will be
treated as income.
Section 1.06 Administration of Trust During Our Lifetime
During our lifetime, the trust shall be held and administered as follows:
1. All property and other assets transferred to this trust shall be allocated to and held in
separate shares, the first such share being designated the "Charles B. Gardner Trust Share"
and the second share being designated the "Betty A. Gardner Trust Share".
2. Each Grantor's separate Trust Share shall be composed of the assets as follows:
a. The Grantor's one-half interest injointly held property transferred to the Trust; and
b. The Grantor's individually owned property which is transferred to the Trust.
While each share shall be held and administered separate from the other, for tax and accounting
purposes, the Trustee is authorized to hold or invest the separate shares in common investments and
co-ownership of assets.
3. The Trustee shall pay to or apply for the benefit of CHARLES B. GARDNER all of the net
income of the CHARLES B. GARDNER Trust Share, in convenient installments, not less
often than quarter-annually, and in addition thereto, shall pay so much of the income and
principal of such Trust Share to or for the benefit of CHARLES B. GARDNER as he may
direct from time to time, or in the absence of a direction, as the Trustee may determine to
be advisable for his medical care, support, maintenance, and general welfare.
4. The Trustee shall pay to or apply for the benefit of BETTY A. GARDNER all of the net
income of the BETTY A. GARDNER Trust Share in convenient installments, not less often
than quarter-annually, and in addition thereto, shall pay so much ofthe income and principal
of such Trust Share to or for the benefit of BETTY A. GARDNER as she may direct from
time to time, or in the absence of a direction, as the Trustee may determine to be advisable
for her medical care, support, maintenance, and general welfare.
All property that a Settlor transfers to the Trustee pursuant to this instrument which was
community property, quasi-community property, or separate property at the time of the
transfer shall remain respectively community property, quasi-community property, or the
separate property of the Settlor transferring such property to the Trust.
REVOCABLE LIVING TRUST AGREEMENT
Page 3
Community and quasi-community property transferred to the Trustee by the Settlors shall
be their community property and treated as such. This property, as invested and reinvested,
together with the rents, issues, and profits therefrom (hereinafter referred to as the
"Community Estate" or the "Community Property") shall retain its character as community
property during the joint lifetimes of the Settlors in spite of any change in the situs of the
Trust, subject, however, to the provisions of this Agreement.
Section 1.07 Discretionarv Termination
The Trustee may terminate any Trust when, in the opinion of the Trustee, the principal is reduced to such
an extent that it is not in the best interest of the Beneficiary or Beneficiaries to continue the Trust. The
judgment of the Trustee with respect to this decision to terminate will be final and not subject to judicial
review. If the Trustee terminates a Trust according to this Section; the date the Trust terminates will be
deemed the date fixed for termination of the Trust, and the Trustee will distribute the assets of the
terminating Trust to the Beneficiary or Beneficiaries pursuant to this Agreement.
Section 1.08 Amendment and Revocation
We hereby retain the following powers, exercisable at any time during our lifetimes:
1. To withdraw any of the property included in our separate share of the Trust Estate by giving
the Trustee written notice specifying the property so withdrawn, in which event, the Trustee
shall promptly transfer and deliver such property to us or our designee.
2. To amend the provisions of this Trust declaration in any respect without the necessity of
securing the consent of the Trustee to such changes, in which event, a copy of the
amendment shall be promptly furnished to the Trustee; provided, however, that following
the death of one of us, the survivor shall have no power to amend the terms of the Trust
declaration with respect to the Trust Share of the first of us to die.
3. To revoke this Trust by giving the Trustee written notice of such revocation, in which event,
the Trustee shall promptly transfer and deliver the property constituting the Trust Estate to
us or our designee together with an accounting therefore; provided, however, that following
the death of one of us, the survivor shall have no power to revoke the terms of the Trust
declaration with respect to the Trust Share of the first of us to die.
Section 1.09 Revocation or Alteration by Settlor Alone
The rights of revocation, withdrawal, alteration, and amendment reserved in this Article may only be
exercised by the Settlor and may not be exercised by any other person, including an agent, a guardian, or a
conservator.
Section 1.10 Irrevocability
Except as otherwise provided, on the death of either Settlor, the designation of Beneficiaries of specific gifts
in this Trust shall become irrevocable and not subject to amendment or modification.
REVOCABLE LIVING TRUST AGREEMENT
Page 4
Section 1.11 Settlor Powers
The surviving Settlor shall be the Trustee unless and until he or she resigns in writing or is determined
incompetent under the terms provided herein. The surviving Settlor shall retain all absolute rights to
discharge or replace any Successor Trustee of any portion or share of the Trust which is revocable by the
surviving Settlor so long as the Settlor is competent.
ARTICLE TWO
Section 2.01 Trust Income
During the joint lives of the Settlors, the Trustee shall at least annually, unless otherwise directed by both
Settlors in writing, pay to or apply for the benefit of husband and wife, all of the net income from the Trust
Estate in the same proportions as each of the spouse's respective interests in the Trust Estate.
Section 2.02 Protection of Settlor in Event ofIncaoacitv
During the joint lives of the Settlors, should either Settlor become incapacitated as defined in Section 2.03
below, the Trustee may, in the Trustee's absolute discretion, pay income and principal for the benefit of the
incapacitated Settlor. In addition, the Trustee, in his or her absolute discretion, may pay to or apply, for the
benefit of that Settlor, such sums from the net income and from the principal of the Settlor's separate Estate
as the Trustee believes is necessary or advisable for the medical care, comfortable maintenance, and welfare
of the Settlor.
Section 2.03 Incapacitv
1. A person is determined to be incapacitated if any Trustee or Beneficiary hereunder comes into
possession of any of the following:
a. Ajurisdictionally applicable court order holding the party to be legally incapacitated to act
on his or her behalf and appointing a guardian or conservator to act for him or her; or
b. Written certificates which are duly executed, witnessed, and acknowledged of two licensed
physicians, each certifying that the physician has examined the person and has concluded
that, by reason of accident, mental deterioration, or other cause, such person has become
incapacitated and can no longer act rationally and prudently in his or her own financial best
interest; or
c. Evidence which such Trustee or Beneficiary deems to be credible and currently applicable
that a person has disappeared, is unaccountably absent, or is being detained under duress,
and that he or she is unable to effectively and prudently look after his or her own best
interests, then in that event and under those circumstances:
I) Such person is deemed to have become incapacitated, as that term is used
in this Trust agreement; and
2) Such incapacity is deemed to continue until such court order, certificates, and / or
circumstances are inapplicable or have been revoked.
REVOCABLE LIVING TRUST AGREEMENT
Page 5
2. A physician's certificate to the effect that the person is no longer incapacitated shall revoke a
certificate declaring the person incapacitated. The certificate which revokes the earlier certificate
may be executed by either the original certifying physician or by two other licensed, board certified
physicians. No Trustee shall be under any duty to institute any inquiry into a person's possible
in<;apacity. The reasonable expense of any such inquiry shall be paid from the Trust Assets.
Section 2.04 Principal Invasion
During the joint lives of the Settlors, should the net income of assets contained in this Trust be insufficient
to provide for the care, maintenance, or support of the Settlors as herein defined, the Trustee may, in the
Trustee's sole and absolute discretion, pay to or apply for the benefit of the Settlors or either of them, or any
of their dependents, such amounts from the principal of the Trust Estate as the Trustee deems necessary or
advisable for the care, maintenance, or support of the Settlors.
Section 2.05 Residence
If the Settlor's residence property is a part of the Trust, the Settlors shall have possession of and full
management ofthe residence and shall have the right to occupy it free of rent. Any expenses arising from
the maintenance of the property and from all taxes, liens, assessments, and insurance premiums, are to be
paid from the Trust to the extent that assets are available for payment. It is the intent of the Settlors to retain
all homestead rights available to them under the applicable state law.
ARTICLE THREE
Section 3.01 Provisions After The First Death
On the death of either Settlor leaving the other Settlor surviving him or her, the Trustee shall collect all
insurance proceeds payable to the Trustee by reason of such death and all bequests and devises distributable
to the Trust Estate.
Section 3.02 Control of Assets
The surviving spouse may, at any time by written notice, require the Trustee either to make any
nonproductive property of this Trust productive or to convert productive property to nonproductive property,
each within a reasonable time. The surviving spouse may further require the Trustee to invest part or all of
this share of Trust Assets for the purpose of maximizing income rather than growth or growth rather than
mcome.
Section 3.03 Division into Shares
1. Upon the death of either Settlor, if the deceased Settlor is survived by the other Settlor, the
deceased's individual Trust Share, including any additions made by reason of the deceased Settlor's
death, shall be divided into two shares.
2. The Trustee, in his or her sole discretion, may defer the division or distribution of the deceased's
individual Trust Share until six months after the deceased Trustor's death. If the division or
distribution of the deceased's individual Trust Share is so deferred, the deferred division or
distribution shall be made as if it had taken place at the time prescribed above. In addition, all rights
REVOCABLE LIVING TRUST AGREEMENT
Page 6
given to the Beneficiaries under the provisions of this Trust Agreement which follow shall be
considered to have accrued and vested as of that prescribed time.
3. Upon the death of the first Settlor to die ("Predeceased Spouse"), the Trustee shall divide the
deceased's individual Trust Share (which shall include any property which may be added from the
Predeceased Spouse's general estate) as follows:
a. The Trustee shall divide the balance of the deceased Trustor's individual Trust Share into
two (2) separate shares (hereinafter designated as "Share A" and "Share B"). Share B shall
be composed of cash, securities, and/or other property of the deceased's individual Trust
Share (undiminished by any estate, inheritance, succession, death, or similar taxes) having
a value equal to the maximum marital deduction as finally determined in the Predeceased
Spouse's federal estate tax proceedings, less the aggregate amount of marital deductions,
if any, allowed for such estate tax purposes by reason of property or interest in property
passing or which have passed to the Surviving Spouse otherwise than pursuant to the
provisions of this paragraph; provided, however, that the amount of Share B hereunder shall
be reduced by the amount, if any, needed to increase the Predeceased Spouse's taxable
estate (for federal estate tax purposes) to the largest amount that, after allowing for the
unified credit against federal estate tax and the state death tax credit against such tax (but
only to the extent that the use of such state death tax credit does not increase the death tax
payable to any state), will result in the smallest (if any) federal estate tax being imposed on
the Predeceased Spouse's estate. The term "Maximum Marital Deduction" shall not be
construed as a direction by the Predeceased Spouse to exercise any election respecting the
deduction of estate administration expenses, the determination of the estate tax valuation
date, or any other tax election which may be available under any tax laws, only in such
manner as will result in a larger allowable estate tax marital deduction than if the contrary
election had been made. The Trustee shall have the sole discretion to select the assets which
shall constitute Share B. In no event, however, shall there be included in Share B any assets
or the proceeds of any asset which will not qualify for the federal estate tax marital
deduction. Share B shall be reduced to the extent that it cannot be created with such
qualifying assets. The Trustee shall value any asset selected by the Trustee for distribution
in kind as a part of Share B at the value of such asset at the date of distribution of such asset.
The balance of the deceased's individual Trust Share, after the assets have been selected for
Share B, shall be allocated to Share A.
Share A and Share B shall be administered and distributed as hereinafter set forth.
Section 3.04 Credit Shelter Trust
If either of the Settlors survives the other, the Trustee shall set apart and hold as a separate trust (the "Credit
Shelter Trust") the assets referred to as Share A in Section 3.03 above. The Trustee shall hold, manage,
invest, and reinvest the assets of this Credit Shelter Trust, shall collect the income therefrom, and shall pay
the net income to or for the benefit of the surviving Settlor in convenient installments at least quarter-
annually; provided, however, that the surviving Grantor may elect to pass any portion of said income to the
remainder Beneficiaries of the Trust.
In addition, the Trustee may pay to or for the benefit of the surviving Settlor for the health, education,
maintenance, or support of the surviving Settlor, any part or all of the principal of this Trust, as the Trustee
may determine in its sole discretion, without considering other resources available to the surviving Settlor.
REVOCABLE LIVING TRUST AGREEMENT
Page 7
The surviving Settlor shall have the right to demand and receive, from the principal of this Trust in each of
its fiscal years, the greater of five thousand dollars ($5,000.00) or five percent (5%) of the fair market value
of such principal determined as of the last day of such fiscal year. Such right shall lapse to the extent it is
not exercised in any year. Any commission payable with respect to principal so withdrawn shall be charged
against such principal.
No person, who at any time is acting as Trustee hereunder, shall have any power or obligation to participate
in any discretionary authority which the Settlor has given to the Trustee to pay principal or income to such
person, or for his or her benefit or in relief of his or her legal obligations; provided, however, that if an
individual Trustee has discretion to invade principal for himself or herself and such discretionary authority
is limited by an ascertainable standard, then such Trustee may invade principal (iflimited by such standard)
for himself or herself, but not in relief of his or her legal obligations.
The plan of distribution and all terms of this Credit Shelter Trust shall be irrevocable and unamenable at any
time after said Credit Shelter Trust comes into being.
The Credit Shelter Trustee(s) shall invest the assets of the Credit Shelter Trust to produce a reasonable
income for the benefit of the surviving Grantor without subjecting the principal to unreasonable risk of loss.
The Credit Shelter Trustee(s) shall be authorized and empowered to invest, reinvest, manage, transfer, and
convey any and all property held in this Credit Shelter Trust, including all powers now or hereafter conferred
upon Trustees by applicable state law, and also those power appropriate to the orderly and effective
administration of the Trust.
The Credit Shelter Trustee(s) shall make a written accounting to all income and remainder Beneficiaries or
to their guardians at least annually and at the time that all assets of this Credit Shelter Trust are distributed.
Said accounting shall consist of a record showing assets on hand at the time of the last accounting, plus
additions, minus expenses and distributions, which shall equal current assets on hand. The Credit Shelter
Trustee(s) shall not be required to obtain authority or approval of any court in the exercise of any power
conferred upon the Trustee(s), nor shall said Trustee(s) be required to make accountings or reports to any
court.
Upon the death of the surviving Settlor, any accrued income shall be paid to the estate of the surviving Settlor
and the remaining principal of this Credit Shelter Trust shall be held, administered, and disposed of in
accordance with the dispositive provisions of this agreement.
Section 3.05 Qualified Terminable Interest Trust
If either of the Grantors survives the other and there are assets allocated to Share B described in Section 3.03
above, then the Trustee shall set apart said assets and hold them as a separate trust (the "Qualified
Terminable Interest Trust"). The Trustee shall hold, manage, invest, and reinvestthe assets ofthis Qualified
Terminable Interest Trust, shall collect the income therefrom, and shall pay the set income to or for the
benefit of the surviving Grantor in convenient installments at least quarter-annually.
Upon the surviving Grantor's death, any accrued, undistributed income shall be distributed to said surviving
Grantor's estate. The remaining principal shall be added to and become part of the Credit Shelter Trust and
shall be held and administered and disposed of in accordance with the plan of distribution for the Credit
Shelter Trust as provided in Sections 3.04 and 4.03, after provision has first been made for the payment of
any estate, inheritance, transfer, succession, or other death taxes, payable by reason of the inclusion of the
value of the Trust property in said surviving Grantor's estate.
REVOCABLE LIVING TRUST AGREEMENT
Page 8
The Trustee(s) of the Qualified Terminable Interest Trust are hereby authorized, in the Trustee(s) sole
discretion, to determine whether to elect (under Section 2056(b )(7) of the Internal Revenue Code) to qualify
all or a specific portion of the Qualified Terminable Interest Trust created herein for the federal estate tax
marital deduction. The Trustee(s) of the Qualified Terminable Interest Trust, in exercising such discretion,
shall attempt to minimize, or eliminate if possible, the federal estate tax payable by the estate of the decedent
spouse's estate.
However, if the Trustee(s) ofthe Qualified Terminable Interest Trust determine that it is in the best interest
of the persons who may receive any assets after the decedent spouse's death and after the surviving Grantor's
death to pay some federal estate tax in the decedent spouse's estate, taking into consideration any other tax
that is to be paid because of the decedent spouse's death and the surviving Grantor's death, and any income
tax liability that may be affected by the election, the Trustee(s) of the Qualified Terminable Interest Trust
may elect to take a marital deduction that does not reduce the tax to zero if the payment of the tax will not
jeopardize the ability of the Qualified Terminable Interest Trust to provide the surviving spouse with the
level of support and maintenance contemplated by this Declaration of Trust. The decision of the Qualified
Terminable Interest Trustee(s) to make this election shall be final and binding on all persons.
The Trustee(s) of the Qualified Terminable Interest Trust is (are) authorized and empowered to invest,
reinvest, transfer, and convey any and all property held in this Qualified Terminable Interest Trust. This
includes all power now or hereafter conferred upon Trustees by applicable state law, and also those powers
appropriate to the orderly and effective administration of the Trust.
The Trustee(s) shall make a written accounting to the surviving Grantor at least annually and shall make a
written accounting to all remainder Beneficiaries at the time that all assets of this Qualified Terminable
Interest Trust are distributed.
Section 3.06 Power to ApDoint Agents
The surviving spouse shall have the right to retain an accountant and / or an attorney at law for professional
services on behalf of the Trust Estate or Estates herein. The surviving spouse shall not be responsible for
the acts of such agents beyond his or her obligation to use reasonable care in the selection of such agents.
Section 3.07 Maximum Marital Deduction
Except as otherwise expressly stated herein, the term "Maximum Marital Deduction" shall not be construed
as a direction by the deceased Settlor to exercise any election respecting the deduction of Estate
administration expenses, the determination of the Estate tax valuation date, or any other tax election which
may be available under any tax laws, only in such manner as will result in a larger allowable Estate tax
marital deduction than if the contrary election had been made.
Section 3.08 Trust Income After The First Death
Following the death of either Settlor and until the death of the surviving Settlor, the Trustee shall, at least
annually, pay to or apply for the benefit of the surviving Settlor all of the net income from the Trust Estate.
REVOCABLE LIVING TRUST AGREEMENT
Page 9
Section 3.09 Simultaneous Death
If the Settlors should die under circumstances which would render it doubtful as to which Settlor died first,
it shall be conclusively presumed for the purposes of this Trust that Charles B. Gardner died first. If any
other Beneficiary and a Settlor should die under such circumstances, it shall be conclusively presumed that
the Beneficiary predeceased such Settlor.
Section 3.10 Last Expenses
Upon the death of each of the Settlors, the Trustee of this Trust may, in its discretion, pay any part of or all
of the funeral and burial expenses, probate claims, administration expenses, and any estate, inheritance,
succession, or other death taxes, which are payable as a result of the death of each of the Settlors, out of that
portion of the Trust Estate constituting the deceased Settlor's separate Trust Share. The Trustee may make
any such payments directly to the creditors or taxing authority in question, or may remit funds to the personal
representative of the Estate of the deceased spouse for such payments.
ARTICLE FOUR
Section 4.0 I Common Pot Trust
At the death of the Surviving Settlor, the Trustee shall not create a Common Pot Trust. All of the Trust
Estate that has not been distributed under prior Articles of the Trust Agreement shall be held, administered,
divided, and distributed according to the provisions that follow.
Section 4.02 Second Death
On the death of the last Settlor to die (the "Surviving Settlor"), the Trustee shall distribute the principal of
the Trust and any accrued or undistributed income from the principal of the Trust in such a manner and to
such persons, including the Estate or the Creditors, as directed in this Trust Agreement.
Section 4.03 Payment of The Second Death Expenses
On the death of the Surviving Settlor, the Trustee shall pay from that portion of the Trust Estate constituting
the deceased Settlor's separate Trust Share the expenses of the surviving Settlor's last illness, funeral, burial,
and any inheritance, estate, or death taxes that may be due by reason of the Surviving Settlor's death, unless
the Trustee in his or her absolute discretion determines that other adequate provisions have been made for
the payment of such expenses and taxes.
Section 4.04 Trust Income and Principal Distribution Uoon The Death of The Surviving Trustor
I. The Trustee shall apply and distribute the net income and principal of each of the shares of the
resulting Trust Estate, after giving effect to the section of this Trust Agreement entitled "Special
Directives" to the following Beneficiaries in the indicated fractional shares:
CHRISTINE A. VARNER
ANTHONYC.GARDNER
JANE L. BENDER
BONNIE S. SHEARER
1/4
1/4
1/4
1/4
REVOCABLE LIVING TRUST AGREEMENT
Page 10
2. If any of the above Beneficiaries, or any other Beneficiary, is under the age of25 years when the
distribution is to be made, the Trustee shall have authority to distribute the same, in whole or in part,
to a custodian for the minor appointed under a Uniform Gifts or Transfers to Minors Act, or the
Trustee may retain any such property and administer and distribute the same for the benefit of the
minor, paying to or for the benefit of such minor so much of the income and principal of the retained
property from time to time as the Trustee deems advisable for the health, education, support, and
maintenance of the minor. When the person for whom the property is held attains the age of25
years, the property shall thereupon be distributed to him or her free of trust unless otherwise stated
in this Agreement. If the minor should die before attaining the age of majority, the property shall
then be paid and distributed to the estate of the minor.
3. If all of the Settlor's Beneficiaries and their children should fail to survive the final distribution of
the Trust Estate, all of the Trust Estate not disposed of as hereinabove provided shall be distributed
as provided for in this Trust Agreement.
Section 4.05 Principle of Reoresentation
Unless indicated differently in this Trust Agreement or in the "Special Directives" section that follows, in
the event any of the named Beneficiaries should predecease both Settlors, all of that person's share of the
Trust Estate is to be divided equally among the deceased Beneficiary's children or issue per stirpes. In the
eventthe predeceased Beneficiary leaves no surviving children or issue, then all of that person's share of the
Trust Estate shall be divided equally among the remaining Beneficiaries per stirpes.
If a Beneficiary of the Settlors survives both Settlors, but should fail to survive to collect his or her share at
distribution, that share shall pass to the surviving issue of that deceased Beneficiary per stirpes and with right
of representation.
ARTICLE FNE
Section 5.01 Non-Income Producing Property
During the joint lives of the Settlors, the Trustee is authorized to retain in the Trust, for so long as the Trustee
may deem advisable, any property received by the Trustee from the Settlors, whether or not such property
is of the character permitted by law for the investment of Trust funds.
Section 5.02 Trustee Powers
The Trustee shall have all powers conferred upon a Trustee by law for the orderly administration of the Trust
Estate. If any property is distributed outright under the provision of this Trust Agreement to a person who
is a minor, distribution may be made under the Pennsylvania Uniform Transfer to Minors Act ("P AUTMA").
The Trustee is further authorized to sign, deliver, and/or receive any documents necessary to carry out the
powers contained within this Section.
The Trustee of any trust created under this Trust Agreement (including any substitute or successor Trustee)
will have and be subject to all of the powers, duties, and responsibilities granted or imposed by the
REVOCABLE LIVING TRUST AGREEMENT
Page II
Pennsylvania Consolidated Statutes (20 Pa. C.S. Section 101 et seq.) as such Statute may provide at the time
of administration ofthe Trust, except to the extent that the same are inconsistent with the provisions of this
Agreement.
Section 5.03 Specific Powers of Trustee
In addition, the Trustee will have the following specific powers:
1. Trust Estate: The Trustee may leave invested any property coming into its hands hereunder in any
form of investment even though the investment may not be of the character of investments permitted
by law to trustees, without liability for loss or depreciation in value. The Trustee may sell,
exchange, or otherwise dispose of and reinvest property which may at any time be a part of the Trust
Estate upon such terms and conditions as the Trustee may deem advisable. The Trustee may invest
and reinvest the Trust Assets from time to time in any property, real, personal, or mixed, including
without limitation, securities of domestic and foreign corporations and investment trusts or
companies, bonds, debentures, preferred stocks, common stocks, mortgages, mortgage participation,
and interests in common trust funds, all with complete discretion to convert realty into personalty
or personalty into realty or otherwise change the character of the Trust Estate, even though such
investment (by reason of its character, amount, proportion to the total Trust Estate, or otherwise)
would not be considered appropriate for a fiduciary apart from this provision and even though such
investment caused part or all of the total Trust Estate to be invested in investments of one type or
of one business or company.
2. Holding Property: The Trustee may hold property in the Trustee's name, as trustee, or in the name
of a nominee without disclosing the Trust.
3. Release of Power: If the Trustee deems it to be in the best interest of the Trust and its Beneficiaries,
the Trustee, by written instrument signed by such Trustee, will have the power and authority to
release, disclaim, or restrict the scope of any power or discretion granted in this Trust Agreement
or implied by law.
4. Agents, Employees: The Trustee may employ one or more agents to perform any act of
administration, whether or not discretionary, including attorneys, auditors, investment managers, or
others, as the Trustee shall deem necessary or advisable. The Trustee may compensate agents and
other employees and may delegate to them any and all discretions and powers.
5. Leases: The Trustee may lease any Trust Assets generally or for oil, gas, and mineral development,
even though the lease term may extend beyond the term of the Trust of which the property is a part.
The Trustee may enter into any covenants and agreements relating to the property so leased or
concerning any improvements which may then or thereafter be erected on such property.
6. Common Funds: The Trustee may hold any of the Trust Assets in a common fund with property
from other trust estates and may make investments jointly with any other trust, the property of which
is included in the common fund.
7. Securities: With respect to securities held in the Trust Estate, the Trustee may exercise all the
rights, powers, and privileges of an owner, including but not limited to, the power to vote, give
proxies, and to pay assessments and other sums deemed by the Trustee necessary for the protection
of the Trust Estate. In addition, the Trustee may participate in voting trusts, foreclosures,
REVOCABLE LIVING TRUST AGREEMENT
Page 12
reorganizations, consolidations, mergers, and liquidations, and in connection therewith, to deposit
securities with and transfer title to any protective or other committee under such terms as the Trustee
may deem advisable. In addition, the Trustee may exercise or sell stock subscription or conversion
rights and may accept and retain as an investment any securities or other property received through
the exercise of any of the foregoing powers, regardless of any limitations elsewhere in this
instrument relative to investments by the Trustee.
8. Purchases from Estate: The Trustee may purchase property of any kind from the Executor or
Administrator of our Estates.
9. Lending: The Trustee may make loans, secured or unsecured, to the Executor or Administrator of
our Estates, to any Beneficiary of the Trust, or to the Trustee. Further, the Trustee may use Trust
Assets to guarantee obligations of any income Beneficiary of the Trust (unless such Beneficiary is
serving as Trustee).
10. Distributions to or for Beneficiaries: The Trustee may make any distribution contemplated by this
Trust Agreement (1) to the Beneficiary; (2) if the Beneficiary is under a legal disability or if the
Trustee determines that the Beneficiary is unable to properly manage his or her affairs, to a person
furnishing support, maintenance, or education for the Beneficiary or with whom the Beneficiary is
residing for expenditures on the Beneficiary's behalf; or (3) if the Beneficiary is a minor, to a trustee
of an existing trust established exclusively for the benefit of such minor, whether created by this
Trust Agreement or otherwise, or to a custodian for the Beneficiary, as selected by the Trustee, under
the Pennsylvania Uniform Transfer to Minors Act. Alternatively, the Trustee may apply all or a part
of the distribution for the Beneficiary's benefit. Any distribution under this paragraph will be a full
discharge of the Trustee with respect thereto. On any partial or final distribution of the Trust Assets,
the Trustee may apportion and allocate the assets of the Trust Estate in cash or in kind, or partly in
cash and partly in kind, or in undivided interests in the manner deemed advisable at the discretion
of the Trustee and to sell any property deemed necessary by the Trustee to make the distribution.
The Trustee may distribute gifts of up to $10,000.00 per year per donee out of principal and/or
interest.
11. Insurance: The Trustee may purchase new life insurance, pay the premiums on existing life
insurance on the life of any Trust Beneficiary, purchase annuities (either commercial or private)
from any corporation, trust, or individual, and may procure and pay the premiums on other insurance
of the kinds, forms, and amounts deemed advisable by the Trustee to protect the Trustee and the
Trust Estate.
12. Borrowing: The Trustee may borrow money from the Trust Estate and others. To secure the
repayment thereof, the Trustee may mortgage, pledge, or otherwise encumber part or all of the Trust
Assets, and in connection with the acquisition of any property, the Trustee may assume a liability
or may acquire property subject to a liability.
13. Repairs: The Trustee may make ordinary and extraordinary repairs and alterations to buildings or
other Trust Assets.
14. Reserves: The Trustee may establish such reserves out ofincome for taxes, assessments, repair, and
maintenance as the Trustee considers appropriate.
REVOCABLE LIVING TRUST AGREEMENT
Page 13
15. Continuation of Business: The Trustee may continue any business or businesses in which the Trust
has an interest at the time of the Settlors' death for so long as the Trustee may, in its sole discretion,
consider necessary or desirable, whether or not the business is conducted by the Settlors at the time
oftheir death individually, as a partnership, or as a corporation wholly owned or controlled by them,
with full authority to sell, settle, and discontinue any of them when and upon such terms and
conditions as the Trustee may, in its sole discretion, consider necessary or desirable.
16. Retain Property for Personal Use: The Trustee may retain a residence or other property for the
personal use of a Beneficiary and allow a Beneficiary to use or occupy the retained property free of
rent and maintenance expenses.
17. Dealings with Third Parties: The Trustee may deal with any person or entity regardless of
relationship or identity of any Trustee to or with that person or entity. The Trustee may hold or
invest any part of or all of the Trust Estate in common or undivided interests with that person or
entity .
18. Partitions, Divisions, Distributions: The Trustee will have the power to make all partitions,
divisions, and distributions contemplated by this Trust Agreement. Any partitions, divisions, or
other distributions may be made in cash, in kind, or partly in cash and partly in kind, in any manner
that the Trustee deems appropriate (including composing shares differently). The Trustee may
determine the value of any property, which valuation will be binding on all Beneficiaries. No
adjustments are required to compensate for any partitions, divisions, or distributions having unequal
consequences to the Beneficiaries.
19. Claims, Controversies: The Trustee may maintain and defend any claim or controversy by or against
the Trust without the joinder or consent of any Beneficiary. The Trustee may commence or defend
at the expense of the Trust any litigation with respect to the Trust or any property of the Trust Estate
as the Trustee may deem advisable. The Trustee may employ, for reasonable compensation, such
counsel as the Trustee shall deem advisable for that purpose.
20. Merger of Trusts: If at any time the Trustee of any trust created hereunder shall also be acting as
trustee of any other trust created by trust instrument or by trust declaration for the benefit of the
same beneficiary or beneficiaries and upon substantially the same terms and conditions, the Trustee
is authorized and empowered, if in the Trustee's discretion such action is in the best interest of the ,
Beneficiary or Beneficiaries, to transfer and merge all of the assets then held under such trust created
pursuant to this Trust Agreement to and with such other trust and thereupon to terminate the trust
created pursuant to this Trust Agreement. The Trustee is further authorized to accept the assets of
any other trust which may be transferred to any trust created hereunder and to administer and
distribute such assets and properties so transferred in accordance with the provisions of this
Agreement.
21. Termination of Small Trust: Any corporate Trustee which is serving as the sole Trustee of any
Trust or any Share thereof may at any time terminate such Trust or Share if, in the Trustee's sole'
judgment, the continued management of such Trust or Share is no longer economical because of the
small size of such Trust or Share and if such action will be deemed to be in the best interests of the
Beneficiary or Beneficiaries. In case of such termination, the Trustee will distribute forthwith the
share of the Trust Estate so terminated to the income Beneficiary, per stirpes. Upon such
distribution, such Trust or Share will terminate and the Trustee will not be liable or responsible to
REVOCABLE LIVING TRUST AGREEMENT
Page 14
any person or persons whomsoever for its action. The Trustee will not be liable for failing or
refusing at any time to terminate any Trust or a Share thereof as authorized by this paragraph.
22. Power to Determine Income and Principal: Dividends payable in stock of the issuing corporation,
stock splits, and capital gains will be treated as principal. Except as herein otherwise specifically
provided, the Trustee will have full power and authority to determine the manner in which expenses
are to be borne and in which receipts are to be credited as between principal and income. The
Trustee has the power to determine what will constitute principal or income and may withhold from
income such reserves for depreciation or depletion as the Trustee may deem fair and equitable. In
determining such matters, the Trustee may give consideration to the provisions of the Pennsylvania
Statutes (or its successor statutes) relating to such matters, but it will not be bound by such
provisions.
23. Generation-Skipping Taxes and Payment: If the Trustee considers any distribution or termination
of an interest or power hereunder as a distribution or termination subject to a generation-skipping
tax, the Trustee is authorized:
24. To augment any taxable distribution by an amount which the Trustee estimates to be sufficient to
pay such tax and charge the same to the particular trust to which the tax related without adjustment
of the relative interests of the Beneficiaries;
a. To pay such tax, in the case of a taxable termination, from the particular trust to which the
tax relates withQut adjustment of the relative interests of the Beneficiaries. If such tax is
imposed in part by reason of the Trust Assets, the Trustee will pay only the portion of such
tax attributable to the taxable termination hereunder taking into consideration deductions,
exemptions, credits, and other factors which the Trustee deems advisable; and
b. To postpone final termination of any particular trust and to withhold any portion or all of
the Trust Estate until the Trustee is satisfied that the Trustee no longer has any liability to
pay any generation-skipping tax with reference to such trust or its termination.
Section 5.04 Special Provision for S COI:Poration Stock
Notwithstanding what is otherwise provided in this Trust Agreement, if at any time the Trust contains any
stock of a corporation which elects or has elected treatment as an "S Corporation" as defined by Section
1361(a)(l) of the Internal Revenue Code (or any corresponding successor statute), such stock will be
segregated from the other assets of such and treated as a separate trust. The Trustee will further divide the
separate trust into shares for each Beneficiary and such shares will be distributed outright or held in trust as
herein provided. In addition, all other provisions of this Trust Agreement will apply to each share held in
trust (and constituting a separate trust) except that the Trustee will distribute all of the income from each
separate trust to its Beneficiary in convenient installments at least annually. It is the Settlors' intent that each
separate trust will be recognized as a "Qualified Subchapter S Trust" ("QSST") under Section 1361(d)(2)
of the Internal Revenue Code (or any corresponding successor statute). Notwithstanding any provisions of
this Trust Agreement to the contrary, the Trustee's powers and discretions with respect to the administration
of each separate trust (including methods of accounting, bookkeeping, making distributions, and
characterizing receipts and expenses) will not be exercised or exercisable except in a manner consistent with
allowing each separate trust to be treated as a QSST as above described.
REVOCABLE LIVING TRUST AGREEMENT
Page 15
ARTICLE SIX
Section 6.01 Coordination with Settlor's Probate Estate
I. At any time during the continuance ofthis Trust, including subsequent to the death of either Settlor,
the Trustees may, in their sole and uncontrolled discretion, distribute to the deceased Settlor's
Probate Estate cash and / or other property as a Beneficiary of the Trust.
2. All other provisions to the contrary notwithstanding, under no circumstances shall any restricted
proceeds, as hereinafter defined, be either directly or indirectly: (i) distributed to or for the benefit
of the Settlor's Executors or the Settlor's Probate Estate; or (ii) used to pay any other obligations of
the Settlor's Estate. The term "Restricted Proceeds" means:
a. All qualified plans, individual retirement accounts, or similar benefits which are received
or receivable by any Trustee hereunder, and which are paid solely to a Beneficiary other
than the Executor of the Settlor's Gross Estate for Federal Estate Tax purposes; and
b. All proceeds of insurance on the Settlor's life which, if paid to a Beneficiary other than the
Settlor's Estate, would be exempt from inheritance or similar death taxes under applicable
state death laws.
Section 6.02 Direction to Minimize Taxes
In the administration of the Trust hereunder, its Fiduciaries shall exercise all available tax related elections,
options, and choices in such a manner as they, in their sole but reasonable judgment (where appropriate,
receiving advice of tax counsel), believe will achieve the overall minimum in total combined present and
reasonably anticipated future administrative expenses and taxes of all kinds. This applies not only to said
Trust, but alsoto its Beneficiaries, to the other Trusts hereunder and their Beneficiaries, and to the Settlor's
Probate Estate.
Without limitation on the generality of the foregoing direction (which shall to that extent supercede the usual
fiduciary duty ofimpartiality), such Fiduciaries shall not be accountable to any person interested in this Trust
or to Settlor's Estate for the manner in which they shall carry out this direction to minimize overall taxes and
expenses (including any decision they may make not to incur the expense of a detailed analysis of alternative
choices). Even though their decisions in this regard may result in increased taxes or decreased distributions
to the Trust, to the Estate, or to one or more Beneficiaries, the Fiduciaries shall not be obligated for
compensation readjustments or reimbursements which arise by reason of the manner in which the Fiduciaries
carry out this direction.
Section 6.03 Judgment and Discretion of Trustee
In the absence of proof of bad faith, all questions of construction or interpretation of any trusts created by
this Trust Agreement will be finally and conclusively determined solely by the Trustee, according to the
Trustee's best judgment and without recourse to any court. Each determination by the Trustee is binding on
the Beneficiaries and prospective Beneficiaries hereunder, both in being and unborn, as well as all other
persons, firms, or corporations. The Trustee, when exercising any discretionary power relating to the
distribution or accumulation of principal or income or to the termination of any trust, will be responsible only
for lack of good faith in the exercise of such power. Each determination may be relied upon to the same
extent as if it were a final and binding judicial determination. In the event of a conflict between the
REVOCABLE LIVING TRUST AGREEMENT
Page 16
provisions ofthis Trust Agreement and those of the Pennsylvania Statutes, the provisions of this Agreement
will control.
ARTICLE SEVEN
Section 7.01 Resolution of Conflict
Any controversy between the Trustee or Trustees and any other Trustee or Trustees, or between any other
parties to this Trust, including Beneficiaries, involving the construction or application of any of the terms,
provisions, or conditions of this Trust shall, on the written request of either or any disagreeing party served
on the other or others, shall be submitted to arbitration. The parties to such arbitration shall each appoint
one person to hear and determine the dispute and; if they are unable to agree, then the two persons so chosen
shall select a third impartial arbitrator whose decision shall be final and conclusive upon both parties. The
cost of arbitration shall be borne by the losing party or in such proportion as the arbitrator( s) shall decide.
Such arbitration shall comply with the commercial arbitration rules of the American Arbitration Association,
140 West 51st Street, New York, NY 10200.
Section 7.02 Incontestabilitv
The beneficial provisions of this Trust Agreement are intended to be in lieu of any other rights, claims, or
interests of whatsoever nature, whether statutory or otherwise, except bona fide pre-death debts, which any
Beneficiary hereunder may have in Settlor's Estate or in the properties in trust hereunder. Accordingly, if
any Beneficiary hereunder asserts any claim (except a legally enforceable debt), statutory election, or other
right or interest against or in Settlor's Estate, or any properties of this Trust, other than pursuant to the
express terms hereof, or directly or indirectly contests, disputes, or calls into question, before any court, the
validity of this Trust Agreement, then:
1. Such Beneficiary shall thereby absolutely forfeit any and all beneficial interests of whatsoever kind
and nature which such Beneficiary or his or her heirs might otherwise have under this Trust
Agreement and the interests of the other Beneficiaries hereunder shall thereupon be appropriately
and proportionately increased; and
2. All of the provisions of this Trust Agreement, to the extent that they confer any benefits, powers,
or rights whatsoever upon such claiming, electing, or contesting Beneficiary, shall thereupon become
absolutely void; and
3. Such claiming, electing, or contesting Beneficiary, if then acting as a trustee hereunder, shall
automatically cease to be a Trustee and shall thereafter be ineligible either to select, remove, or
become a Trustee hereunder.
Section 7.03 Specific Omissions
Any and all persons and entities, except those persons and entities specifically named herein, have been
intentionally omitted from this Trust Agreement. If any person or entity shall successfully challenge any
term or condition of this Trust Agreement, then, to that person or entity shall be given the sum of one dollar
($1.00) in lieu and in place of any other benefit, grant, or interest which that person or interest may have in
the Trust Estate.
REVOCABLE LIVING TRUST AGREEMENT
Page 17
Section 7.04 Benefits Confidential
The Settlors further declare that it is their desire and intent that the provisions of this Trust Agreement are
to remain confidential as to all parties. The Settlors direct that only the information concerning the benefits
paid to any particular Beneficiary shall be revealed to such individual and that no individual shall have a right
to information concerning the benefits being paid to any other Beneficiary.
ARTICLE EIGHT
Section 8.01 Distribution in Kind or in Cash
On any division of the assets of the Trust Estate into shares or partial shares, and on any final or partial
distribution of the assets of the Trust Estate, the Trustee, at his or her absolute discretion, may divide and
distribute undivided interests of such assets on a pro rata or non-pro rata basis, or may sell any part of or all
of such assets and may make divisions or distributions in cash or partly in cash and partly in kind. The
decision of the Trustee, either prior to or on any division or distribution of such assets, as to what constitutes
a proper division of such assets of the Trust Estate, shall be binding on all persons interested in any trust
provided for in this Trust Agreement.
Section 8.02 Spendthrift Provision
Neither the principal nor the income of the trust shall be liable for the debts of a Beneficiary. Except as
otherwise expressly provided in this Agreement, no Beneficiary of any trust shall have any right, power, or
authority to alienate, encumber, or hypothecate his or her interest in the principal or income of this Trust in
any manner, nor shall the interests of any Beneficiary be subject to the claims of his or her creditors or liable
to attachment, execution, or other process oflaw. The limitations herein shall not restrict the exercise of any
power of appointment or the right to disclaim.
Section 8.03 Definition of Children
The terms "Child" and "Children" as used in this Agreement mean the lawful issue of a Settlor or of the
Settlors together. This definition also includes children legally adopted by a Settlor or by the Settlors
together.
Section 8.04 Handicapped Beneficiaries
Any Beneficiary who is determined by a court of competent jurisdiction to be incompetent shall not have any
discretionary rights of a Beneficiary with respect to this Trust, or to their share or portion thereof. The
Trustee shall hold and maintain such incompetent Beneficiary's share of the Trust estate and shall, in the
Trustee's sole discretion, provide for such Beneficiary as that Trustee would provide for a minor.
Notwithstanding the foregoing, any Beneficiary who is diagnosed for the purposes of governmental benefits
(as hereinafter delineated) as being not competent or as being disabled, and who shall be entitled to
governmental support and benefits by reason of such incompetency or disability, shall cease to be a
Beneficiary of this Trust. Likewise, they shall cease to be a Beneficiary if any share or portion of the
principal or income of the Trust shall become subject to the claims of any governmental agency for costs or
benefits, fees, or charges.
REVOCABLE LIVING TRUST AGREEMENT
Page 18
The portion of the Trust Estate which, absent the provisions of this section, would have been the share of
such incompetent or handicapped person shall be retained in trust for as long as that individual lives. The
Trustee, at his or her sole discretion, shall utilize such funds for the maintenance of that individual. If such
individual recovers from his or her incompetency or disability and is no longer eligible for aid from any
governmental agency, including costs or benefits, fees, or charges, such individual shall be reinstated as a
Beneficiary after 60 days from such recovery and the allocation and distribution provisions as stated herein
shall apply to that portion ofthe Trust Estate which is held by the Trustee subjectto the foregoing provisions
of this section. If said handicapped Beneficiary is no longer living and shall leave children then living, the
deceased child's share shall pass to those children per stirpes. If there are no children, the share shaH be
allocated proportionately among the remaining Beneficiaries.
ARTICLE NINE
Section 9.01 Trustees
All Trustees are to serve without bond. The following will act as Trustees of any Trusts created by this Trust
Agreement, in the following order of succession:
First:
The undersigned, CHARLES B. GARDNER and / or BETTY A. GARDNER.
Second:
The Surviving Spouse.
Third:
At the death or incapacity of the Surviving Spouse, CHRISTINE A. VARNER
shall serve as First Successor Trustee.
Fourth:
ANTHONY C. GARDNER shall serve as Second Successor Trustee.
Fifth:
JANE L. BENDER shall serve as Third Successor Trustee.
Sixth:
BONNIE S. SHEARER shall serve as Fourth Successor Trustee.
Last:
A Trustee chosen by the majority of Beneficiaries, with a parent or legal guardian
voting for minor Beneficiaries; provided, however, that the children of any deceased
Beneficiary shall collectively have only one vote.
Section 9.02 Allocation and Distribution of The Trust Assets
The Trustees shall allocate, hold, administer, and distribute the Trust Assets as hereinafter provided:
1. Upon the death of the first Settlor, the Trustee shall make any separate distributions that
have been specified by the deceased Settlor. The Trustee shall also take into consideration
the appropriate provisions of this Article.
2. Upon the death of the Surviving Spouse, the Trustee shall hold, administer, and distribute
the Trust Assets in the manner hereinafter prescribed.
REVOCABLE LIVING TRUST AGREEMENT
Page 19
Section 9.03 Personal Property Distribution
Notwithstanding any provision of this Trust Agreement to the contrary, the Trustee must abide by any
memorandum by the Settlors, particularly that contained in the section entitled "Special Directives"
incorporated into this Trust Instrument, directing the disposition of Trust Assets of every kind including, but
not limited to, furniture, appliances, furnishings, pictures, china, silverware, glass, books, jewelry, wearing
apparel, and all policies of fire, burglary, property damage, and other insurance on or in connection with the
use of property. Otherwise, any personal and household effects of the Settlors shall be distributed with the
remaining assets of the Trust Estate.
Section 9.04 Liabilitv of Trustee
The Trustee will not be responsible or liable for any loss which may occur by reason of depreciation in value
of the properties at any time belonging to the Trust Estate nor for any other loss which may occur, except
that the Trustee will be liable for each Trustee's own negligence, neglect, default, or willful wrong. The
Trustee will not be liable or responsible for the acts, om issions, or defaults of any agent or other person to
whom duties may be properly delegated hereunder (except officers or regular employees of the Trustee) if
such agent or person was appointed with due care. The Trustee may receive reimbursement from the Trust
Estate for any liability, whether in contract or in tort, incurred in the administration of the Trust Estate in
accordance with the provisions hereof, and the Trustee may contract in such form that such Trustee will be
exempt from such personal liability and that such liability will be limited to the Trust Assets.
Section 9.05 Successor Trustees
Any Successor Trustee shall have all the power, rights, discretion, and obligations conferred on a Trustee
by this Trust Agreement. All rights, titles, and interest in the property of the Trust shall immediately vest
in the successor Trustee at the time of appointment. The prior Trustee shall, without warranty, transfer to
the Successor Trustee the existing Trust property. No Successor Trustee shall be under any duty to examine,
verify, question, or audit the books, records, accounts, or transaction of any preceding Trustee; and no
Successor Trustee shall be liable for any loss or expense from or occasioned by anything done or neglected
to be done by any predecessor Trustee. A Successor Trustee shall be liable only for his or her own acts and
defaults.
ARTICLE TEN
Section 10.01 Pell>etuities Savings Clause
Notwithstanding any other provision ofthis instrument, the Trusts created hereunder shall terminate not later
than twenty-one (21) years after the death of the last survivor of all Settlors and any other Beneficiary or
Beneficiaries named or defined in this Trust living on the date of the death of the first Settlor to die. The
Trustee shall distribute remaining Trust principal and all accrued or undistributed net income hereunder to
the Beneficiary or Beneficiaries. If there is more than one Beneficiary, the distribution shall be in the
proportion in which they are Beneficiaries; if no proportion is designated, then the distribution shall be in
equal shares to such Beneficiaries.
REVOCABLE LIVING TRUST AGREEMENT
Page 20
ARTICLE ELEVEN
Section 11.0 I Governing Law
It is not intended that the laws of only one particular state shall necessarily govern all questions pertaining
to all of the Trust hereunder.
I. The validity of the Trust hereunder, as well as the validity ofthe particular provisions of that Trust,
shall be governed by the laws ofthe state which has sufficient connection with the Trust to support
such validity.
2. The meaning and effect of the terms of this Trust Agreement shall be governed by the laws ofthe
Commonwealth of Pennsylvania.
3. The administration of this Trust shall be governed by the laws of the state in which the principle
office of the Trustee then having custody of the Trust's principal assets and records is located.
The foregoing shall apply even though the situs of some Trust Assets or the home of the Settlor, a Trustee,
or a Beneficiary may at some time or times be elsewhere.
Section 11.02 Invalidity of Anv Provision
If a court finds that any provision of this Trust Agreement is void, invalid, or unenforceable, the remaining
provisions of this Agreement will continue to be fully effective.
Section 11.03 Headings
The use of headings in connection with the various articles and sections of this Trust Agreement is solely
for convenience and the headings are to be given no meaning or significance whatsoever in construing the
terms and provisions of this Agreement.
Section 11.04 Internal Revenue Code Terminologv
As used herein, the words "Gross Estate," "Adjusted Gross Estate," "Taxable Estate," "Unified Credit,"
"State Death Tax Credit," "Maximum Marital Deduction," "Marital Deduction," and any other word or
words which from the context in which it or they are used refer to the Internal Revenue Code shall be
assigned the same meaning as words have for the purposes of applying the Internal Revenue Code to a
deceased Settlor's Estate. Reference to sections of the Internal Revenue Code and to the Internal Revenue
Code shall refer to the Internal Revenue Code amended to the date of such Settlor's death.
REVOCABLE LIVING TRUST AGREEMENT
Page 21
DATED to be effective this
<<4-.
J~
day of J~J:)'U~l
,2t'.a.::> .
SETTLORS:
~~~~
CHARLESB.GA NER
~t2 ~~
BETTY ARDNER
ACCEPTED BY CO-TRUSTEES:
~/~f~...
CHARLESB.GARD~
~ J;I.
. ~ L'l ~tb/
BE TY ~ARDNER
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
This instrument was acknowledged before me on the date herein set forth by CHARLES B.
GARDNER as Settlor and Co-Trustee to certify which witness my hand and seal of office.
....,~"..~,_.,..~ ......... ...,..."....".. ....... ..."..-..... '~~J
JETFFlE'',' D, ,JONES
Cl.Anni!S,~iond( \A Deeds
C(}rrinlCiihVt~D.:ih cd F\:i1nsylvania
[My COlflmi:;sion ..,:q}!rt,,; Nov 1'1, 2003
. =<_-..c=,-.,.,.~.=_.,_.. '"""'''.'''',,~.'',,,,"'_''_.' ,~...._".._ _n'." C'_'_'="_'"""'-'<'__==~"',,".,,=.<=
Notary Pu~ Ie;" :'7-mmonwealth of Pennsylvania
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
This instrument was acknowledged before me on the date herein set forth by BETTY A. GARDNER
as Settlor and Co-Trustee to certify which witness my hand and seal of office.
I ,J 1:.1 H H'.'1 [). ....1.
(;o~nlltl J ,lutl':.JI .}t, t.['LC'.
: -,,,,,,,,,,,:,,,,,. ", "I " ""'.yl,',,,,,,
Lt t.III'1I11l ,Illl lql'/t,',~'t)t(~
- "~"'.'......~,,~.~,.....~., ""'" . .....,,". ,', '''' -. ..-,
monwealth of Pennsylvania
REVOCABLE LIVING TRUST AGREEMENT
Page 24
I
I
I
I
I
APPRAISAL CERTIFICATION
I hereby certify that upon application for valuation by:
THE ESTATE OF CHARLES B. GARDNER
the undersigned personally inspected the following described property:
All that certain piece or parcel of land situate in Upper Mifflin Township, Cumberland
County, PetUlsylvania, bOWlded and described as follows:
Beginning at an iron pin at corner of lands now or formerly of Alfred Beaston in line of
lands now or formerly of Donald L. Lehew; thence by lands now or formerly of Lehew, North
20 degrees, 56 minutes, 15 seconds West, 1,045.91 feet, to a stone pile at corner oflands now
or formerly of C. Donald Henry; thence by Henry, North 58 degrees, 33 minutes, 45 seconds
East, 200.00 feet, to an iron pin at corner of lands now or formerly of Orville 1. Beaston; thence
by Beaston, South 51 degrees, 32 minutes, 49 seconds East, 677.33 feet, to an iron pin; thence
by same, South 58 degrees, 15 minutes, 33 seconds West, 211.45 feet, to an iron pin; thence
continuing by the same, South 17 degrees, 02 minutes 46 seconds East, 203.38 feet, to a blazed
cherry tree; thence by same, South 37 degrees, 22 minutes, 56 seconds East, 79.42 feet, to an
iron pin; thence by same, North 57 degrees, 06 minutes, 19 seconds East, 149.66 feet, to an iron
pin; thence by same South 51 degrees, 01 minute, 56 seconds East, 330.31 feet, to an iron pin at
corner of lands now or formerly of Alfred Beaston; thence by lands of Alfred Beaston, South
71 degrees, 10 minutes, 13 seconds West, 355.00 feet to an iron pin; thence by the same North
20 degrees, 56 minutes, 15 seconds West, 50.00 feet, to an iron pin; thence by same South 71
degrees, 10 minutes, 13 seconds, West, 300.00 feet to an iron pin, the place of beginning.
Containing 10.288 acres per survey of Kissinger and Wolfe Surveyors, dated August 8, 1979.
To the best of my knowledge and belief the statements contained in this report are true
and correct, and that neither the employment to make this appraisal nor the compensation is
contingent upon the value reported, and that in my opinion the Market Value as of May 10,
2006 is:
THIRTY. THREE THOUSAND SIX HUNDRED THOUSAND DOLLARS
$33,600
The property was appraised as a whole, subject to the contingent and limiting conditions
outlined herein.
3
fl7 II ~~1 ~
~+
Dated this --1 .....
QUIT CLAIM DEED
day of ~b(l)1lUf
20<:)0
The Grantor(s): Charles B. Gardner and Betty A. Gardner
whose address is 214 Three Square Hollow Road, Newburg, Cumberland County, Pennsylvania
17240
quit-claim(s) to THE CHARLES B. GARDNER AND BETTY A. GARDNER
REVOCABLE l..IVINGTRUST
whose address is 214 Three Square Hollow Road, Newburg, Cumberland County, Pennsylvania
17240
Consideration: TEN DOLLARS ($10.00) and other good a11;d valuable consideration in
hand paid.
Property (including any improvements):
ALL that certain tract or parcel of land situate in Upper Mifflin Township~ Cumberland
County, Pennsylvania more fully bounded and described as follows, to wit:
BEGINNING at an iron pin at coiner of lands now or formerly of Alfred Beaston in line
of lands now or formerly of Donald L. Lehew; thence by lands now or formerly of Lehew, North
20 degrees~ 56 minutes, 15 seconds West, 1,045.91 feet, to a stone pile at comer oflands now or
formerly of C. Donald Henry; thence by Henry, North 58 degrees, 33 minutes, 45 seconds East,
200.00 feet, to an iron pin at comer oflands now or formerly of Orville J. Beaston; thence by
Beaston, South 51 degrees, 32 minutes, 49 seconds East, 677.33 feet, to an iron pin; thence by
same, South 58 degrees, 15 minutes, 33 seconds West, 211.45 feet, to an iron pin; thence
continuing by the same, South 17 degrees, 02 minutes, 46 seconds East, 203.38 feet, to a blazed
cherry tree; thence by same, South 37 degrees, 22 minutes, 56 seconds East, 79.42 feet, to an iron
pin; thence by same, North 57 degrees, 06 minutes~ 19 seconds East, 149.66 feet, to an iron pin;
thence by same South 51 degrees, 01 minute~ 56 seconds East, 330.31 feet, to an iron pin at
comer of lands now or formerly of Alfred Beaston; thence by lands of Alfred Beaston, South 71
degrees, 10 minutes, 13 seconds West, 355.00 to an iron pin; thence by the same North 20
degrees, 56 minutes, 15 seconds West, 50.00 feet, to an iron pin; thence by same South 71
degrees, 10 minutes, 13 Seconds, West, 300.00 feet to an iron pin; the place of BEGINNING.
CONTAINING, 10.288 acres per survey of Kissinger and Wolfe Surveyors, dated August
8, 1979.
Page 1 of 3
.......", .,0 _ ~ _"
APPRAISAL CERTIFICATION
I hereby certify that upon application for valuation by:
THE ESTATE OF CHARLES B. GARDNER
the undersigned personally inspected the following described property:
All that certain piece or parcel of land, with the improvements thereon erected, situate
in the Borough of Newburg, in the Township of Hopewell, Cumberland County, Pennsylvania,
bounded and described as follows:
Beginning at a point in center of South High Street~ thence along the North line of the
Blanch B. Bowers lot North 83 degrees West a distance of208 feet to an iron pin on the East
side of a 12 foot alley extended; thence on the East side of the 12 foot alley above North 7
degrees East a distance of 100 feet to an iron pin~ thence along lands of John A. and Mary M.
Byers South 83 degrees East a distance of 208 feet to a nail in center of North High Street~
thence by center of the above North High Street South 7 degrees West a distance of 100 feet to
a nail in center of the above street and place of beginning. Containing 20,800 square feet.
To the best of my knowledge and belief the statements contained in this report are true
and correct, and that neither the employment to make this appraisal nor the compensation is
contingent uponthe value reported, and that in my opinion the Market Value as of May 10,
2006 is:
ONE HUNDRED THIRTY-FIVE TIfOUSAND DOLLARS
$135,000
The property was appraised as a whole, subject to the contingent and limiting conditions
outlined herein.
~;::~~v
Larry E. Foote
Certified General Appraiser
GA-OOOO 14-L
3
011/11- ~e--
QUIT CLAIM DEED
Dated this
I~i
day of t=e:.b("\.)~
2~
,
The Grantor(s): Charles B. Gardner and Betty A. Gardner
whose address is 214 Three Square Hollow Road, Newburg, Cumberland County, Pennsylvania
17240
quit-claim(s) to THE CHARLES B. GARDNER AND BErrY A. GARDNER
REVOCABLE LIVING TRUST
whose address is 214 Three Square Hollow Road, Newburg, Cumberland County, Pennsylvania
17240
Consideration: TEN DOllARS ($10.00) and other good and valuable consideration in
hand paid.
Property (including any improvements):
ALL that certain tract of land situate in the Borough of Newburg, in the Township of
Hopewell, County of Cumberland and State of Pennsylvania bounded and described as follows
to-wit:
BEGINNING at a point in center of South High Street; thence along the North line of the
Blanche B. Bowers lot North Eighty- three (83) degrees West a distance of Two Hundred and
Eight (208) feet to an iron pin on the East side of a Twelve (12) feet alley extended; thence on
the East side of the Twelve (12) foot alley above North Seven (7) degrees East a distance of One
Hundred (100) feet to an iron pin; thence along lands of the Grantor South Eighty-three (83)
degrees East a distance of Two Hundred and Eight (208) feet to a nail in center of North High
Street; thence by center of the above North High. Street South Seven (7) degrees West a distance
of One hundred (100) feet to a nail in center of the above street and Place of BEGINNING.
Containing Twenty Thousand Eight Hundred (20,800) square feet.
Eighty-three (83) feet of this lot in the Borough of Newburg. Seventeen (17) feet is
located in Hopewell Township. This description is according to survey by T. Elliott Middleton,
R.S. dated Jan. 12, 1955.
UNDER AND SUBJECT to and together with the rights, privileges, agreements, rights-
of-way, easements, conditions, exceptions, restrictions and reservations as exist by virtue of prior
recorded instruments, deeds or conveyances.
n~~~ 1 "f:" '1
".~.".-'c...I'\.J(i, :j, L()()b\ Y:4lMI ~(\W,~:.:H!.)'VjA :.,tC
" .: ~prl., ?J;fU
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3656 05/11/2006 10:03
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-VA-LV 3595-5905-----wY~ CHA.RLE'S'-BGARDNER CO TTE BETTY A GARDl<lERCO -TTiEo5ili/06-----
Ft1N'C FRIll]) 41.':1
CASH $1l60~ 891. 3.2 TI-Mlv F-CAL:L
USD/EQ Tl-FM/V H-CP.LI,
TOTAL T2-LM!V D-INT
MARGIN T2-SM/V M- nIT
OTHER OTH.MM/V EQTY %
DIV!INT OTfI CM/V EQUITY
$28,132.16 MMKT $580,445.64 Tl ciA CIA
SMA $1160,891.32 Tl M/SEC E/P
$28,lBZ.16CR FDS AVL $1160,891.32 TOT M!V $1189,073.48 TOT vt
QUAlfTITY DESCRIPTION .s Y1<i CRNCY CUSIP VALUB T LOC M
309L AT _T INC T USD 00206RI02 8086.53 1. SEG M
463L ARCHER D~~IELS MIDLAND C :A.D1:o1 TJSD 039483102 20835.00 1 Sl<~G M
aOOL AU~ODESK INC ADSK USD 052769106 31208.00 1 SEG 11
200L COMCAST CORP NEW CL A CMCSA USD :20030NIOl 6454.00 1 SEG M:
2001. DUKE ENERGY CORP DUK USD 26441Clr)5 5736.00 J. SEG M
8539.1B4L EVERGREEN PA TAX FREE A EKVJ\.X USD 3Q032 61 05 95638.86 1 SKF'101
5684.361L EVERGRE~N PA TAX FREE: E EKVBX TJSD 300326204 63437.46 :1 SKP M
BOOOL EXXON MOBIL CORP XOM USD 30231GIO:Z 5110,10.00 1 SEG 11
SOOL INNKEEPERS USA TRU.ST KPA USD 4.5'76J0104 8315.00 1 SEG N
200L INTEL CO.RP INTC USD 458140100 39l6.00 1 SEG 11
743L M _T BANK COF.P MTJ3 USD 55261FI04 88342,70 1 SEG M
46L MEDCO HEl'ILTH SOLUTIONS MHS USD Sfl40SUI02 2463.36 1 SEG 11
I
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W/\:.:HUVlf\ :itC
.f3656 .------'OS;:U/2006 10: 04
--------...".~-------...-.....------,----_...-...------_.
NC:. 6U4
F. /
VALU 35955905 WY31 CHARLES B GARDNER CO 'I'TE BETTY A ~~RPl\IER CO TTEE-Os}ir7o6.----
E'JNC LAST. END OF FILE 4Cl
CASH $1l60, 891.32 TI-M/V
USD!EQ T1-.rn/V
TOTAL T2-LM/V
I-rARGIN T2-sM/V
OTHER OTH MM/v
DIV!INT OTtt ~/v
MMl<T $560,445.64 '1'1 CIA
SMA $1160,891.32 '1'1 M/SEC
~28,182.16CR ~~S AVL $1160,891.32 TOT M!V
QUAN'I'IT~ m:SCRIPTION 5);'M CBNCY CUSIP
200L MERC'K _CO INC MRK USD 5693311,07
1189L PUB SVC ENTERPRISE EEG USD 744573106
400L TEX nrSTRU'MEN'l'S INC TXN USD 882508104
951.72L VAN KAMPEN US MOR'1'G~GE-A v~rGX USD 921129102
11065L ~! PENN VALUE INCOME T~ VPV USD 92112T108
306L VERIZON COMMUNICATJONS VZ . USD 92343VI04
2480.236L V~~ KAMPEN PENN T/F FD-A VKMPX U'SD 920902103
7L l?ENN IMI'I' :LOS s USD 70884B.554
7L PA INS HUN XNC TR 64 S/A USD 705S4B133
$23,182.:16
I
I
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F-CALL
a-CALL
b-1NT
M-IN'l'
EQ'fY *
EQUITY
CiA
B/I'
$1189,073.48 TOT \~
VALUE T IJOC 11'1
693<l.00 1 SEG ~f
77641.70 1 SEG M
13480.00 1 BEG M
12686.421 SKI:' M
148824.25 1 SEG M
9896.04 1 SEGM
42660.05 1 SKF M
1457.33 1 SEG M
1838.62 1 BEG M
/\U:j, 13, LOCb
Y:4LM/j
WACHUV1A ::;tC
W,6i)lf
t c -r'~
.v (~Cl~)
:..'j-:'- t!.}- tJ ';I
~- :;:: :3~:RL::,:2 GARDNER -~~RA) --:~=-=:-=-~=;06=
FUNC LAST END Ot' FILE: 4Cl IR
CASH $10,668.96 TI-M/v F-CALL
I USD/EQ Tl-rn/VH'-CALL
TOTAL '1'2- LM/V D.-. INT'
iYf..ARGIN 'Z'2-SN/V M-INT'
I OTHER OTE MM/v EQTY %
DIV lINT orm CM/V EQUITY
$384.83 MMKT Tl CIA CiA
SMA. Tl M/sEC sip
$384.83CR FDS AVL $10,668.96 TO~ M/V $11,053.79 TOT VL
QUANTITY DESCRIPTION SYM cro~Cy CUSIP V~LUE T LOC M
372L DUKE ENERGY CORl? DUlO/; usn 2644J.C105 10668 _ 96 1 SEG J:vj
.-;
Kelley Blue Book - Private Party Pricing Report - Chevrolet, Silverado 1500 Pickup
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2/5/2007