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No. 21-95-fl30
Eslnlc of
IIDWI\IU> C. 'I'DWI,g, JIL
, Deceased
DECREE OF PROD A TE AND GRANT OF LETTERS
AND NOW NOV EMBER 3, 19~, In consideration or lhe petition on
lhe reverse side hereor, Salisractory proor having been presented berore me,
IT IS DECREED that the instrumenl(s) daled /\UQust 1, 1995
described lhereln be admitted 10 probate and filed or record as the last will or
1I0ward C. 'rowle, Jr.
and Lellers Testamentarv
are hereby granted 10 Dorothv L. 'l'owlc
'om'. (I'll
t1~, I "- -/";" I " ,\ "."
.I (j Roll"" 01 Will.
, MARY C. LEWIS
.; G . I j/ ..il J
,-)})! d.''/':1'[j
.
FEES
P b L E $ 375.00
ra ale, etters, Ie... . . . . . . .
Short Cenlficales( 1,8,. " , " '.. $_Ji4, OJL
Renynciation ..........,..,.. $
X-pages $ ~q.uu
JCP s.ao
TOTAL _ $~8.00
Filed ..,..,. .~qy~~,~~~. ~'" , m,~,. ,. ". .
Linus E. Fenicle (20944)
ATTORNEY (Sup, Ct. 1.0, No,)
10 S. Market Square, suite 500,
P.O. Ilox 1265. Harrisburq. P/\ 17108-1265
ADDRESS
(7171 236-9581
PHONE
(")C)
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Mailed letters and order to attorney on 11-6-95.
21 - 95 - 830
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LAST WILL AND TESTAMENT
OF
HOWARD C. TOWLE. .JR.
I, HOWARD C. TOWLE. JR., of Cumberland County,
Commonwealth of Pennsylvania, being of sound mind and disposing memory,
realizing the uncertainty of this life, do hereby make, publish and declare this
to be my Last Will and Testament, revoking any and all previous Wills and
Codicils, and hereby will and dispose of all the property which I own at my
death in the following manner.
I.
As Executrix (hereinafter referred to as "Executor") of this my
Will, I name and nominate my wife, Dorothy L. Towle; if my wife, Dorothy L.
Towle, shall for any reason fail or be unable to serve as Executor, either before
or during her service as Executor, then I nominate and name my daughter,
Dorothy Towle Hamilton; if my daughter, Dorothy Towle Hamilton, shall for
any reason fail or be unable to serve as Executor, either before or during her
service as Executor, then I nominate and name my son-in-law, Robert L.
Hamilton.
II.
I direct that my debts and the expenses of my last illness and
funeral shall be paid by 'my Executor as soon after my decease as may be
convenient.
III.
All of my automobiles, households and personal effects and other
tangible personalty of like nature, together with insurance thereon, I give to my
said wife, if she shall survive mej but if my wife docs not so survive me, then
equally to such of my children as to survive me, to be divided among them as
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they may determine, or. should they be unable to agree, as my Executor may
decide. IV.
I give, devise and bequeath all the residue of my estate, real,
personal, and mixed wherever situated, including any property over which I may
have any power of appointment, unto the Trustee of the Trust established by
that certain Trust Agreement executed July 26, 1994, by myself as Settlor and
naming Dorothy Towle Hamilton as Trustee (hereinafter referred to as
"Trustee") to be administered and disposed of as part of the aforesaid Trust as
an addition to the principal subject to that Trust Agreement as it exists at my
death.
V.
. i
I give to my Executor, in addition to and not in limitation of
common law and statutory powers, all of the powers and discretions given to
my said Trustee in the aforesaid Trust Agreement, Including amendments
thereto, incorporated by reference herein. All such powers and discretions may
be exercised by my Trustee or hy my Executor without application to any court.
In the event said Trust Agreement, Including any amendments thereto, shall not
be in effect at the time of my death, and/or in addition to the powers therein
granted I give my Executor the following powers. in addition to powers given
by law:
.
(
A. To retairi.any investment owned by me at my death.
B. To make such Investments and reinvestments and in such
proportions, without limitation to what are known as legal
investments, as shall be considered beneficial to my estate,
including common and preferred stock, securities in the
corporate fiduciary or in a holding company controlling the
corporate fiduciary and common trust funds operated by the
corporate fiduciary.
C. To (1) participate in any merger or reorganization affecting
securities held hereunder at any time; (2) deposit stocks under
2
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created In Article V of the Trust Agreement between Dorothy
Towle Hamilton Trustee, and me, Settlor, dated July 26, 1994, for
the Federal Estate Tax Marital Deduction and any marital
deduction available under the law of the state in which I am
domiciled at the time of my death. I suggest, but do not direct,
that in exercising such discretion, my Executor attempt to
minimize (or eliminate, If possible) the Federal and State Estate,
Inheritance or other death taxes payable by my estate at the time
of my death. However, my Executor should also consider the
effect of such election upon the Federal and State Estate,
Inheritance or other death taxes which will be payable by my said
wife's estate at her death, particularly if she dies before the
election must be made. Tbe decision of my Executor with
respect to the exercise of the election shall be final and
conclusive upon all persons whose interest in my estate are
directly or indirectly affected by the election.
L. To (i) determine the maximum amount of Generation
Skipping Tax ("GST") exemption available for allocation after
taking into account all allocations (If any) made or deemed to
have been made by me pursuant to Section 2632 of the Code
prior to my death, and (ii) allocate such maximum amount to
property of which I am the transferor (as defined in Section
2652( a) of the Code) to the following in the order of priority
elected by my Executor, but suggested to be as follows: (a) to all
direct skips (as defined in Section 2612(c) of the Code) other
than any direct skips resulting from a disclaimer; (b) to property
distributed by the Trustee of my said Trust Agreement to Trust
B of said Trust Agreement; (c) to property distributed by the
Trustee of my said Trust Agreement to Trust C (or, where
applicable, Trust D); and (d) to property of Trusts A or C of my
spouse's Trust Agreement, if any, up to the value of any
distribution from either or both of said Trusts.
M. To determine whether to elect (under Section 2652(a)(3) of
the Code) to qualify all or a specific portion of the Trust C (or,
where applicable, Trust D) property created in Article V of my
said Trust Agreement in order to maximize the amount of GST
exemption available for allocation to my estate.
4
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VI.
I direct that all estate, inheritance and succession taxes, and
interest and penalties thereon, which may be due and payable by reason of my
death with respect to any property included in my gross estate for tax purposes,
whether or not passing under this Will and any Codicil hereto shall be borne
by the principal of my residuary estate passing under paragraph IV hereof, but
this direction shall not be construed to detract from the discretionary powers
granted to my Trustee under my said Trust Agreement, including any
amendments thereto, mentioned in paragraph IV of this Will. In any event, to
the extent that taxes are paid from assets held in the said Trust Agreement, the
direction contained in this paragraph shall apply only to such taxes as remain
unpaid. I further authorize my Executor to prepay taxes on future and
remainder interests if deemed advisable.
VII.
In the event an election to do so is provided by law, I direct my
Executor to claim any expenses of administration of my estate as income tax
deductions whenever and to the extent that in my Executor's sole judgment
such action will achieve an overall reduction in the income taxes and
inheritance, estate and succession taxes for the benefit of my estate and the
beneficiaries thereof. I ~rther direct that no compensating adjustments as
between income and principal accounts shall be required or made as a result
of such action.
VIII.
I direct that no bond or other security be required of my said
Executor or Trustee in any jurisdiction in which they or either of them may act.
5
Ihh.td'Mt....U
On the Is-/- day of ~ u YIS+ ,1995, HOWARD
C. TOWLE, JR. declared unto us, the undersigned, that the foregoing
instrument was his Last Will and Testament, and he requested us to act as
witnesses to the same and to his Mark thereon. He thereupon willingly and
unassisted subscribed his name by his Mark on this Will in our presence, we all
being present at the same time, and we now, on the same date, at his request
and in the presence of each other, hereunto subscribe our names as witnesses.
And each of us declares that he believes this Testator to be of sound mind and
memory.
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Address
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COMMONWEALTH OF PENNSYLVANIA
c...." In..rlo.J) ss.
COUNTY OF DMtPtHN
Mark.i~ sub$cribad to
I, HOWARD C. TOWLE, JR., Testator, whose-name-I&-S1gneG-W
the foregoing instrument, having been duly qualified according to law, do
by Mark
hereby acknowledge that I signedland executed the instrument as my Last Will
by Mark by Mark
and Testament; that I signed/it wil1ingly; and that I signed/it as my free and
voluntary act for the purposes therein expressed.
1
(
HOWARD C. TOWLE, JR.
Sworn or affirmed to and acknowledged
as the Mark of
before me/by HOWARD C. TOWLE, JR., the Testator,
this 15+ day of A lo\ ~ U.l.+ , 1995.
ro.>>t!k ~
Notary Public
(SEAL)
My Commission Expires:
N<ranoI SeIlI
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Iott CcrmlissIoO....... Sesx. ~
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COMMONWI!AI:nIOFI'ENNSYLVANIA
C u", \...r1..~ ~ ss.
COUNTY OF.I)AUPHIN
Wc, j,.t""r (;. 'f~t6 and m^-...~" t"( to .(!I),..,t1)~ the
witnesscs whose names are signcd to the foregoing instrument, being duly
qualificd according to law, do depo~e and say that we were present and saw the
Testator subscribe by Mark and execute the Instrument as his Last Will and
Testament; thaI he subscribed his Mark willingly and that he executed it as his
free and voluntary act for the purposes therein expressed; that each of us in the
hearing and sight of the Testator signed the Will as witnesses; and that to the
best of our knowledge the Testator was at that time eighteen (18) or more
years of age, of sound mind, and under no constral
imo~(J .~ /
Sworn or affirmed to and subscribed to before me,
by L,I'\..u u: J~f '\IC:l.:~
and M"r~,,~ 6. C!...p....
this .D:!.- day of A... 3 ~ J+
, 1995.
c>>.. 'H ~
Notal)' Public
(SEAL)
~SeoI
NlnH._.........PI.tIIc
CoMIeIloto.~
My CornmiaicI<1 e..-. Sepl. ~
9
21 - 95 - 830
REGISTER OF WILLS OF CUMBERLAND COUNTY
OATH OF SUBSCRIBING WITNESS
Linus E. Fenicle and Margaret O. Chapman
eodlcil
(each) a subscribing witness to the will presenled hcrewith, (each) being duly qualified according to
law, depose(s) and say(s) that they were presenl and saw
uoward C. Towle, Jr.
the testal nr ,sign the same and that they signed as a witness allhe
request of lestat2.!.- In \1 is presence and (In thZPrese. e of eac/U.lhe presence of the
other subscribing witness(es)). ? I?l
Sworn to or affirmed and subscribed before
me this 1ST day of P.O. Box l26~Name)
NOVEMBER 19~ lI"rr;chnrg. PA 171nn
--71'; 0 ,.r !/~'I' ''', ... O' K 1/){ Itr,lJ"l,/, . (Addr<;ss)
, (IMARy c. LEWIS Reglsrer' /)]1, ".if -1"1 ch'}.,,,,,,, .
(J ,I
P.O. 'Box 126gvame)
nnrr;Qhnrg. p1\ 171nn
(Address)
REGISTER OF WILLS OF COUNTY
OATH OF NON-SUBSCRIBING WITNESS
(each) iq~bscriber hereto, (each) being duly qualified according 10 law. depose(s) and say(s) that
familiar with the signature of
codieU---
testa I of (one 'of.the subscribing witnesses (0) the~~1II presented herewith and
""~~'" /../~ codicil
that believes.the signature on the will is In the handwriting of
"-. /'
testat believes Ihe signature of the'will^l>resented herewith and that
codicil /,./ ". ",
believes the signature on the wil\A~'ln the handwriting of
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to the best of 'Rnowledge and belief. .
Sworn to or arnrm~ subscribed before
me this "/ day of (Name)
/ 19_
//
(Address)
Reg/sler
(Name)
(Address)
f'EV-341 EX 11.';0,
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PA DEPARTMENT OF REVENUE 't.HfiJS
ESTATE INFORMATION SHEET
FOR REGISTER'S OFFICE USE ONLY
Count V Code Year Fila Number
21
95
8)0
DECEDENT INFORMATION:
Enter data as It will appear on all documents submitted to the department.
(Firsl) (M,dd'e)
1I0ward C. Jr.
Name (Lasl)
Towle
Decedent's Social Security Number
172
01
9486
Dale of Dealh
10/20/95
Dalo 01 Bir1h
3/25/06
TYPE FILING: Enter check (v) mark to Indicate the nature 01 thr return to be lIIed with the department.
fit] Probate Relurn
DJolnt Asse's Only
DEstale Tax Only
DUli9alion Purposes (No Olhar Assels)
LETTERS GRANTED:
Enter check (v) mark to Indicate the nature 01 the proceedings at the Register 01 Wills
Office. (Attach additional sheets II explanation Is necessary.)
IiUTestamenlary
DAdminislral,on
DNa Lellers
o Other (Please Explain)
ATTORNEY ICORRESPONDENT
INFORMATION:
Enter all data concerning the attorney or other Individual to receive all
tax Inlormatlon and correspondence.
(Mlddla) Supreme Court 1,0, I
Name (Last)
Fenic1e
Streel Address
(Flrsl)
Linus
E.
20944
10 S. Market Sq., Suite 500, P.O. Box 1265
City
Harrisburg
PERSONAL REPRESENTATIVE
INFORMATION:
Executorl Administrator
Slate
Zip Code
17108-1265
Telephone Number
( 71 7) 236-9581
Ph
Enter all data c.lncernlng the personal representatlve(s) 01 the estate
authorized by the Register 01 Wills
Name (Last)
Towle
Streel Address
(Firsl)
Dorothy
(Mlddla)
L.
SocIal Securlly Number
200
50
1735
227 N. 25th Street
Cjly
Camp lIi11
Co-Executor/ Adml nlstrator
Slalo
Ph
Zip Coda
17011
Telephone Number
(717) 737-4467
Nama (Last)
(Firsl)
(Middle)
I Social Securlly Number
slreel Address
Cily
slalo
Zip Code
Telephone Number
Co-Executorl Administrator
Nome (Lasl)
(Firs')
(Middle)
Social Securily Number
Slreel Addro:ss
City
Slate
Zip Code
Telephone Number
Dale
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FILE NUMBER
FOR OAHS or OEAHl AFTER U/JlIgl oi[e.... tlEn[
IF A SPOUSAL
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REV-I600[l.(1-e"l
INHERITANCE TAX RETURN
RESIDENT DECEDENT
(TO BE FilED IN DUPLICATE
WITH REGISTER OF WillS
COU~TY CODE
C P
o 0 NAME
R N
R D Linus E. Fenicle Es .
E E
S N TELEPHONE NUMBER
- T 717 763-1383
I. Roal Estslo (Schodulo A) (I)
2. Stocks snd Bonds (Schodu'o B) (2)
3. CIoBOly Hold Stock/Partnorshlp IntOlosl (Schodu'o C) (3)
4. Mortgogo. and Noto. Rocelvoblo (Schodulo D) (4)
6. Cosh, Bank Dopo,'I. & Mlscenanoous Personal Proporly (Sch, E) (6)
6. Jolnlly Ownod Proporly (Schodulo F) (6)
7. Translors (Schodulo G) (Schodulo L) \7)
8. Total Gro.. Assots (tolal Uno. 1-7)
9. Funaral Expansos, Admlnlstratlvo Costs, MIscollanoous
Expon... (Schodulo H)
10. Dobl.. Mortgogo UObl""o,. Uon. (Schodu'o I)
11. Total DoduClion. (tolol Un.. 9 & 10)
12. Not Valuo 01 Estoto (Uno 9 minus Uno 11)
13. Chorllob'o ond Govornmontol Boquo.t. (Schodu'o J)
14. Not Valuo Sub oct 10 TI1)( {Uno 12 minus Uno 13
16. SpousnJ Tronsfors (lor datos 01 doath altor 0-30-04)
SOD Instructions lor Applicablo Porcontago on pogo 2.
(Includo valuos from Schodulo K or Schodulo M.)
15. ArnaU"1 0' Uno 14 (oxablo 016% rolo
(I"cludo valUDs lrom SChodulo K 0' Schodulo M.)
17. Amount 01 Uno 141oxoblo at 15% rolo
(Includo valuDs from Schodulo K or Schodulo M.)
18. Prlnclpallox duo (Add tox Irom Uno 15, 18 ond 17,)
18.Crodits/Sp Povorty Pllor PoymontB Discount
0.00.28,735.38. 1.486.58
20. If Uno 18 Is groalor thon Uno 10, ont0l1ho dillolonco on Uno 20. This Is 1ho OVERPAYMENT.
~ ~ IChock horo It you aro requesUng a retund of your overpaymentl
21. II Uno 191. grootor Ihon Uno 19. onlor Iho dilloronco on Uno 21, Thl.I. Iho TAX DUE.
A. Entor Iho Intolos1 on 1ho balanco duo on Uno 21A.
a. Enlor tho 10101 01 Uno 21 ond 21A on Uno 21 B. Thl.l. tho BALANCE DUE.
Mike Chock Pa able to: Re Isler of Wills. A ent
~ ~ BE SURE TO ANSWER ALL QUESTIONS ON PAGE 2 ANO TO RECHECK MATH ... ...
Undlr p.n.ltlll 01 p.rlury, I dll;lIl1lhl1l h'v, u.mln.d 'hll r.lurn, Includmg .ccomp.nYlng Ich.lSul.. .net Il'l.m.nt...nd to Ih. bill ot my IInowl.dg' .nd b,II",'1 I' 1,u.,
con.(;I.nd (;omp1.1..1 d.clllllh.I.II,,,'"I..t. hll blln "poll.d.1 'rut m..r....t v.lu.. D.cl.l,..hon at p'.pl'lr olhll th..n 'h. p.r.on..t IIpllllnl..tlv.l. bll.et on.U inform.lion 0'
whlchpltp"rlr hll"nyknow1.dg..
COM~Pf1..'(,\WWJJFr.fl\,Wbr^NIA
HAnRls8S~k~i~~' lIl-oeo 1
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OECEOENrs NAME (LAST, r.RST,AND MIDDLE lP4IrlALI
Tow ard C.
DECEDENt's COVPLEH AOORESS
227 N. 25th Street
Camp 11111. PA 17011
SOCIAL S[CUmTYNUMOER
172-01-9486
OATE OF DEATH
10/20/1995
DAt[ OF BlnTl4
OS/25/1906
Cl'lunl~
Cumberland
(IF APPLICADLEI6URV1VINO SPOUS['S NAME (LAST.flRST AND MIDDLE INtTlALI
Towle Ooroth L.
X I. Orlglnal Roturn
4. Umllod Estelo
~iOCIAL SECURITYNUMOER
2. Supplomontal Rotum
X 41, FUIUIO Intolosl Compromlso
(lor dotos 01 doolh ahol 12-12-92)
[]] 8. Docodont Dlod Tostato [!] 7. Docodont Malnlalnod a Uvlng Trust
Attach co 01 Will Attach a co 01 Trusl
ALL CORRESPONDENCE ANO CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
DO &.
1 8.
COMPLETE MAiliNG ACORESS
21-95-0830
V[AR
NUMDEIl
AMOUNT RECEIVED(5EE INSTRUCTIONS)
481 335.21
Romalndor Roturn
(lor detoe 01 doath prtol to 12-13-02)
Fodoral E81alo Tax Roturn Roqulrod
Total Number 01 Salo Ooposh Baxos
Reager & Adler, P.C.
2331 Market Street
Carn 11111 PA 17011-4642
None
800.902.21
None
None
2.370.98
None
64.395.42
R
E
C
A
P
I
T
U
L
A
T
I
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N
(9)
33.105.52
(10)
129.00
(8)
867.668.61
(II)
(12)
t13)
14
33.234.52
834.434.09
834.434.09
0.00
(1&)
417.149.68 X Q!.=
21.907.43
365.123.86 X ,08'
(18)
T
A
X
C
o
M
P
U
T
A
T
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N
7.824.08
(17)
52.160.55 X .15'
(18)
29.731. 51
Inlol091
SIGNATURE OF PEnSON RESPONSIBLE FOR FILING RETURN Dorothy L. Towle
227 N. 25th Street
i;;;m; - iii j i - - - Pi.- - -j 7ijij' -.. - - - - - - - -. - - - -. - - -.." - -"-
Reager & Adler. P.C.
2331 Mnrket Stroot
i;;;,;;. iii j i - - -,;i." - - j 7iii i: i;642...". - . - -" -""""-
onl~C:I'!jy.l.m..lnc.
(19)
(20)
30.221.96
490.45
(21)
(21A)
(2IB)
0.00
0.00
0.00
DATE
It? '/d- 9(;
DATE
j-' .1" ~ ,:
Form 1600 (R.v. '.114)
RocOln,j\,1 ,'~'\ C~l 01
ROUI',w '.' WillS
'96 Ole '6 1\8:\ 4
Clol,;'" ',w Gourl
cum'oC>IIW10 Co., pA
nEV - 160J EX + 14~eel
ce"'r..oIl\1rt\'i~~.oo~JhY"1A
EBTATE OF
SCHEDULE B
STOCKS AND BONDS
Heward C. Towle Jr.
SSU 172-01-9486
10/20/1995
All
ITEM
NUMBER
1
olnU -owned wtth RI hlolBuNlverlhl mUll be dllcloled on Schedule F.
DESCRIPTION
816 shsres Ameritech Corp, CUSIP #030954101 - traded on
the NYSE, common
Accrued dividend on item 1 to date of death
2 544 shares AirTouch Communications, CUSIP #00949T100
traded on the NYSE, common
3 1,368 shares AT&T corporation, CUSIP #030177109 -
traded on the NYSE, cemmon
Accrued dividend on item 3 to date of death
4 544 shares Bell Atlantic, CUSIP #077853109 - traded on
the NYSE, common
Accrued dividend on item 4 to date of death
5 1,224 shares Bel1South Corporation, CUSIP #079860102
traded on the NYSE, common
Accrued dividend on item 5 to date of death
6 3,000 shares Heinz H.J. Co, CUSIP #427866108 - traded
on the NYSE, common
7 1,100 shares Hershey Foods Corp, CUSIP #427866108 -
traded on the NYSE, common
8 37,131.084 shares IDS High Yield TaK-EKempt Fund -
Account No. 0115-2922478-1-002.
Accrued dividend on item 8 to date of death
9 544 shares NYNEX Corporation, CUSIP #670768100 - traded
on the NYSE, common
Accrued dividend on item 9 to date of death
10 544 shares Pacific Telesis Croup. CUSIP #694890104
traded on the NYSE, common
Accrued dividend on item 10 to date of death
11 816 shares SUC Communications Inc. CUSIP #845333103
Total of Continuation Schedule s
TOTAL A1f1O onlor on Ilno 2, RueD lIuloUon
(II molD apneD Is noodod,lnsor1 addillonDJ ohoo19 olosmo slzo.)
coP)',IIiIIltICI ""14 tDrm .01"....,. onl., CrS.,ll.ml. Inc.
FILE NUMBER
21-95-0830
VALUE AT nATE
OF DEATH
53.625 43,758.00
.50 408.00
29.9375 16,286.00
61.50 84,132.00
.33 451.44
63.875 34,748.00
.70 380.80
75.1875 92,029.50
.36 440.64
47.125 141,375.00
64.50 70,950.00
4.59000 170,431.68
.023137 859.13
48.0625 26.146.00
.59 320.96
29.75 16.184.00
.545 296.48
55.50 45.288.00
56 416.58
S 800 902.21
Fo'", 1600 l]ch.dul. B lA..... 4~.1I1
Estste of: Iloward C. Towle Jr.
Soc Sec #: 172-01-9486
Dste of Death: 10/20/1995
Continuation of Schedule B
(Stocks and Bonds)
Item
#
Description
Unit
Vslue
Value at Date
of Dsath
traded on the NYSE, common
Accrued dividend on item 11 to dste of death
.4125
336.60
12
2,249 shares Salomon Brothera Fund Inc, CUSIP
#795477108 - traded on the NYSE. common
13.4375
30,220.94
13
544 shares U.S.West Inc, CUSIP #912889102 - trsded on
the NYSE, common
47.00
25,568.00
Accrued dividend on item 13 to dete of desth
.535
291.04
56,416.58
REV- no. EX. (2.11,
SCHEDULE E
CASH, BANK DEPOSITS AND
MISCELIJ\NEOUS
PERSONAL PROPERTY
Ple.so Print or T 0
FlU! NUMBER
21-95-0830
cO"'\lR~\lrt\~~w.\\I~/hY'NIA
ESTATE OF
Howard C. Towle Jr.
55,. 172-01-9486
10/20/1995
All
ITEM
NUMBER
1
oln -owned wtth RI hI 01 Survlvorahl mUll be dllcloled on Schedull
VALUE AT DATE
OF DEATH
239.20
DESCRIPTION
Bell Atlantic - final Medicare reimbursement psyment.
2
Leader, Inc. - refund of nursing home bill.
1,067.02
74.76
50.00
440.00
3
Vitalink Pharmacy Servicea Inc. - refund of pharmacy bill.
4
Zembo Temple - refund of 1996 memberahip duea.
5
United Statea gold coin - dated 1928. Value per appraisal of
Wayne A. Pratali, Director of Numismatics, Goldline
International, Inc.
6
Household goods and clothing.
500.00
TOTAL Also enler on line 5, Roce Ilulollon
(Anoch oddlllonoJ 0 1/2" . "" shoots II more spoco 10 nooded,)
Cop)'rlghlltll,g4Io,," lollwlFI onlyCPSYlllml, Inc..
$ 2 370.98
Farm 1600 lSchldull E IRI", 2..111
REV - '610 U:. (2.")
SCHEDULE G
TRANSFERS
Ploaso P~ot or 0
FILE NUMBER
21-95-0830
COM\:.\11~\'i~~w~\l~r~'NI'
ESTATE OF
Howard C. Towle Jr. SS# 172-01-9486 10 20 1995
11iIS BCHEOULE MUST BE COMPLETED ,\NO FILED IF 11iE ANSWER TO ANY OF 11iE QUESTIONS QN PAGE 2 IS VES.
ITEM
NUMBER
1
TOTAL VALUE
OF ASSET
27,900.00
DECD'S
% INT.
DOLlAR VALUE OF
DECEDENT INTEREST
27,900.00
DESCRIPl'ION OF PROPERlY
r'~~D~:~ i~':;'d :~~~:~~'~~~:':r':::~f' r.
Bell Atlantic . death
benefit from decedent'e
pension plan as retired
employee of Bell Telephone
Company.
EXCLUSION
104.99
2
Massachusetts Mutual Life
Inaurance Company - Matured
Retirement Income Annuity
No. 151124-00, providing
monthly lifetime income at
65 of $26.37, 120 payments
guaranteed, beginning
3/1/71, decedent was
receiving benefits during
his lifetime, decedent's
surviving spouse is the
beneficiary. Form 712
attached.
104.99
3
Bell Atlantic - Pension
Plan, present value of
joint and survivior annuity
which will be paid in
monthly installments to
surviving spouse.
34,613.00
34,613.00
4
Bell Atlantic - monthly
pension check.
1,776.43
1,776.43
5
Revocable Living Trust -
datad July 26, 1994. with
decedent as Settlor and
Dorothy Towle Hamilton as
Trustee, unfunded as of the
decedent's dste of death.
1.00
1.00
64.395.42
TOTAL lAlllO onlor on Ilno 7. Rocoollu,.lIonl
(11010'0 .poco I. noodod, lo'orl additional ,hool. 01 'llI11O olzo,)
COPWllghl It) In. fo,m ,all..'" ani.,. craW' 11m., Inc.
Form 1500 5eh.dul. Q (A..... 2.".
.
AEY~ tin U. . ('~II)
SCHEDULE H
FUNERAL EXPENSES,
ADMINISTRATIVE COSTS AND
MISCELLANEOUS EXPENSES
COM~\11~\\l4~rtb\~~~AN'A
ESTAre OF
Howard
ITEM
NUMBER
A.
B.
1.
2.
3.
4.
c.
PI.... Print or II
FILE NUMBER
21.95.0830
C. Towle Jr.
SSII 172-01-9486
10 20 1995
DESCRIPTION
1
Funeral Expenaea:
Hyera-Harner Funeral Home Inc. - funeral services.
2
Westminster Cemetery - grevemsrker.
AdmlnlalraU.a Coata:
Porsonal Roprosontatlvo ConY11lsslons
Soclal Security Number 01 Personal Reprosonlad.e:
Year Convnlsslon. paid
Anornoy Foeo
Reager & Adler, P.C.
Family Exempllon
Oalmanl Dorothv L. Towle
Addr... 01 Oalmanl al decodenl'. de.th
Stroot Addre.. 227 N. 25th
City Camp Hill
Rel.don.hlp
Spouse
Street
51.le PA Zip COde 17011
Probate FOGS
Register of Wills
1
MI..ellaneou. Expen.ea:
The Ca~lisle Sentinel - legal advertisement.
2 Cumberland Law Journal - legal advertiaement.
3 Eckert Seamans Cherin & Hellott . adminiatrative cost advances as
special counsel (estimated).
4 Hetrick, Zaleski & Pierce. P.C. . partial payment of
administrative cost advances.
5 Hetrick, Zaleski & Pierce, P.C. . partial payment of
administrative cost advances.
6 Reager & Adler, P.C. - remaining administrative cost advances
(estimated) .
7 Register of Wills - Dauphin County. auditional short
Total of Continuation Schedule s
TOTAL Also onlor on Iino O. Roes IlulaUon
tll more apa.e'a needed. Ina.rtaddIUonalahe.ta olume II.e.)
CoPyrtllhlltl11114 ro,," .olh....'. onl~ CP5~.I.m., Int.
AMOUNT
6,133.00
2,378.00
18.121. 06
3,500.00
458.00
77 .20
45.00
100.00
172.54
69.72
100.00
12.00
1 939.00
. 33 105.52
Fa,," 1600 5th.dul. H IRt'l. '~")
Estste of: Iloward C. Towle Jr.
Soc Sac~: 172.01.9486
Date of Death: 10/20/1995
Continuation of Schedule 11.82
(Attorney Foos)
Item Description
~
Amount
1
Eckert Sesmsns Cherin & Hellott . attorney's fees as special
counsel in preparation of Federal Estate Tax Return, Pennsylvania
Inheritance Tax Return, and Inventory (estimated).
2,500.00
2 Hetrick, Zaleski & Pierce, P.C. . partial payment of attorney's
fees.
5,982.00
3 Hetrick, Zaleski & Pierce, P.C. - partial payment of attorney's
fees.
1,575.50
4
Reager & Adler, P.C.
partial payment of attorney's fees.
563.56
5
Reager & Adler, P.C. . remaining sttorney's fees (estimated).
7,500.00
18,121.06
.:J-I&12UtCI-IJI
COMMO~wtAL T~ OF PEl!;lYlYANIA
INH RI'AN . TA' RI:tURN
A a DE.N DECE.D NT
SCHEDULE I
DEBTS OF DECEDENT.
MORTGAGE LIABILITIES AND LIENS
Pl.... Print 01
FILE NUMBER
21-95-0830
ESTATE OF
Howard C. Towle Jr.
SSII 172.01.9486
10/20/1995
ITEM
NUMBER
1
DESCRIPTION
Camp Hill Borough - local income tax on 8ell Atlantic pension
plan.
AMOUNT
4.00
2
Internal Revenue Service - federal income tax on Bell Atlantic
pension plan.
125.00
TOTAL Also onlor on IIno 10, Roc. lIull\lon
(II moro opaco 10 noodod. InBort additional 8hoolS 01 IDmo BllO.)
COP1flghllc) 1114 fDrm .ortw.,. on''1 CP5Ylt.m., Inc.
s
129.00
Form 1500 SCh.d"l. Iln.v. 1-':1)
,
REV.. 1113 EX. (if-171
cO"'\1.'l{\lrt~'i~~&W~/fIl'''''
ESTATE OF
SCHEDULE J
BENEFICIARIES
Howard
ITEM
NUMBER
C. Towle Jr.
551# 172-01-9486
10 20 1995
FILE NUMBER
21-95-0830
NAME AND ADDRESS OF BENEFICIARY
RELATIONSHIP
AMOUNT OR
SHARE OF ESTATE
1
A. Taxable Bequesla:
Howard C. Towle Jr. Revocable Trust U/A
c/o Dorothy Towle Hamilton, Trustee
8 Blacklog Road
Kentf1eld, CA 94904
Trust
100% Residue
Trust beneficieries are ss follows:
1. Dorothy L. Towle, spouse
2. Dorothy Towle Hsmilton, daughter
3. Robert L. Hamilton, Jr., son-in-law
4. Karen Ann Hamilton, granddaughter
5. Susan Anita Hammond, granddaughter
6. Beth Louise Hamilton, granddaughter
ITEM
NUMBER
NAME AND ADDRESS OF BENEFICIARY
AMOUNT OR
SHARE OF ESTATE
B. Charflable and Govornmenlal Bequesla:
TOTAL CHARITABLE AND GOVERNMENTAL BEQUESTS Also onlor on Ilno 13, Roc. lIulollon
(It molD DP8CO Is noodod,lnsor18ddiUonal shoolS or sarno 8Izo.)
Copyrlghl(cl 1884 form 1011.1,. only CPSYltlm" Inc.
s
0.00
Furm 1500 SChldul1 J (n,v, 2-")
'.
nEy.lec'E....llO-1I..1
COMMO~W[ALT~ OF "'bt;SVlVANlA
INN AITAN 'TAk" .unN
n 5 DEN -DECtO NT
ESTATE OF
Howard C. Towle Jr. SSn 172.01.9486 10 20 1995
This Ichedule Is appropriate onlV for Estates of decedenls dytng Intr December 12t 11182.
This schodulo Is 10 bo usod for all fuluro InlOlosls whoro tho 1810 of lax which will bo applicable whon tho futuro Inlorost yostsl"
088088100 and on 0 01 cannot bo oslabllshod with cortal" .
Tho Instrument crusllng tho fuluro InlDlost Is:
Will
SCHEDULE M
FUTURE INTEREST COMPROMISE
FILE NUMBER
21.95.0830
X Trust
(Pl.... Itlach copy ollnIWm.nt)
oth.r
I. B.n.ncl_r1.1
NAME OF DATE OF AGE TO
BENEFICIARY RELATIONSHIP BIRTH NEAREST BIRTHDAY
I. Doroth T. Hamilton Dau hter 02 02 36 60
2. Robert llamllton Jr. Son-in-Law 12 25 34 61
3. Karen Ann Hamilton Granddau hter 04 30 61 34
4. Susan Anita Hammond Granddau hter 04 30 61 34
6. Beth Louise Hamilton Granddau hter 08 28 65 30
II. For decedents dying on or 8110r July 1,1994,1I118urvlving SPOUSO oxorclsod or Intends to oxorclso one 01 tho lollow1ng within 9
monlhs ollhe docedonrs dOSlh, chock Ihe approprlste be. Ind supply I copy 0' Iho document In which Iho sUrvlvlng apouso
oxorclsos such W1thdrBwaJ right.
Unllmltld r1 ht 01 wlthdrawsl Umlt.d r1 ht 01 wlthdrswal
III. EllpllnlUon 01 Compromls. 011." (II maro spaeo Is noodod. .nlch Iddl\lOnal8,5 X II" sheels)
(See attached)
IV. Summary of Compromise Offer:
1. Amount of Futuro Intorost . . . . . . . . . . . . . . . . . . . . . . . . . . . S
590.126.59
2. Valuo 01 Uno I e.ompllrom I"" os amount passing 10 charJUos. olc.. . . .
(also Includo 8S pan of lotol shown on Uno 13 d' Covar Shool)
3. VAluo 01 Uno 1 passing to SPOUSD at approprlato tax rata . . . . . . . . .
Chock I Block D 5%. 0 3%. CKI 0%
(oJso Includo 09 pan 01 lotal allown on Uno 1601 Covar Shool)
4. Valuo of Uno 1 T""ablo 01 Unoal Ralo . , . , . . . . , . . , . . . , . .
(also Includo os part 01 total shown on Uno 10 of Covor Shool)
6. Valuo 01 Uno 1 T(lJCabl~ at Collolorol Roto . . . . . . . . . . . . . . . .
(0100 IACludo os part ollolalahown on Uno 1701 COVOI Shool)
G. T0101 Valuo 01 Futuro InlOl05t (Durn 01 Unoo 2 Uuu 5 mUDt aqual Uno 1) .
........ $
0.00
..,..... $
172.842.18
$
365.123.86
52,160.55
590,126.59
$
$
Copy'lghtlt) nla~ 10"" .ull....... only CI'Syahml, Int.
Fo'," 1500 5th.dut. M In,y. 10-841
~ _. .._ _.,.. T.
SCHEDULE M
FUTURE INTEREST COMPROMISE
III. Explanation of Compromise Offer: (continuation)
All net probate assets other than personal property, were poured over into decedent's
Revocable Living Trust dated July 26, 1994 ("Trust") pursuant to Article 4 of decedent's
Last Will and Testament dated August 1, 1995 which is attached hereto. Article 5.02 of the
Trust provides that the Trust assets are to be divided into four (4) separate trusts, namely a
Marital Deduction Trust ("Trust A "). a Bypass Trust ("Trust B"), a QTIP Trust ("Trust CO)
and a Reverse QTIP Trust ("Trust 0"). On March 25, 1996, decedent's spouse, Dorothy L.
Towle, filed a disclaimer with the Register of Wills for Cumberland County, Pennsylvania,
disclaiming all right, titie or interest in the Marital Trust. Consequently, consistent with
Section 5.02 of the Trust, all assets were first placed in the Bypass Trust up to the Federal
Unified Credit Exemption amount of $590,126.59, and the remaining assets were placed in
the QTIP Trust. Decedent's executor, Dorothy L. Towle, has elected to treat any amount in
excess of $590,126.59 as a QTIP Trust on the Federal Tax Retum filed for the decedent.
The QTIP Trust, or Trust C, set forth under paragraph 5.05 of the Trust is a sole use trust,
qualifying for the 0% tax rate under Section 2113(A). The initial $590,126.59 of the Trust
will go into the Bypass Trust (Trust B) under the trust document and the terms of which are
provided in Section 5.04. This section provides that the surviving spouse is to receive all
income and principal of Trust B as needed, with a special power of appointment to make
limited withdrawals on a yearly basis. Trust B further provides that the decedent's children
may receive principal distributions from the Trust so long as they are dependent upon the
surviving spouse, or in the event of disability of the surviving spouse, then as the discretion
of the Trustee shall determine. Since Trust B is not a sole use trust, it is subjcct to the
future interest compromise.
In determining the value of the Trust B's Remainder Interest which is taxable, and the value
of the Remainder Interest of Trust B which is not taxable, consistent with the regulations we
have looked to the guidance of the Federal Estate Tax Regulations. Intemal Revenue Service
(IRS) Regulation 20.2031-7 (Valuation of Remainder Interests), provides that all actuarial
valuations after April 30, 1989 are to be determined by Section 7520 (Interest Rate). Section
7520 of the Internal Revenue Code provides that the Remainder Interest is determined using
the tables determined by the secretary and the 120% Applicable Federal Rate (AFR). Under
Regulation 20.2031-7, Table S is considered applicable to the present circumstance. The
120% AFR mid-term rate with annual compounding for October, 1995 (the month the
decedent died) was 7.6%. Decedent's spouse was age 87 at the time of death. Therefore,
based on Table S, the Remainder Interest would be 0.70711.
.
Using this remainder factor executor has applied the $590, 126.59 pecuniary bequest to Trust
B times the remainder factor of 0.70711, resulting in a remainder value of $417,284.41 for
other than surviving spouse.
The Remainder Interest of Trust A is to be distributed upon the death of the surviving spouse
In the manner provided in Section 5.04(3) of the Trust document. This provides that 50% of
the Remainder Interest will go to decedent's daughter, Dorothy Towle Hamilton, and the
other haif of the Remainder Interest will go equally to decedent's son-in-law, Robert L.
Hamilton and each of decedent's grandchildren, Karen Hamilton, Susan Hammond and Beth
Hamilton. Since Robert L. Hamilton is a collateral descendant he is a 15% tax beneficiary.
Robert L. Hamilton, therefore, has a 12.5% interest in the Remainder Interest of Trust B.
Therefore, 12.5% of the Remainder Interest will be subject to the 15% Inheritance Tax and
the remaining 87.5 % of the Remainder Interest will be subject to the 6% tax imposed on
lineal descendants. Therefore, based on these vaiuatlon figures we make the following
compromise offer for the $590,126.59: (a) vaiue of spouse's interest in the Trust which is
subject to the 0% tax rate is $172,842.18; (b) vaiue of Remainder Interest of the Trust
passing to lineal descendants is $365,123.86 ($417,284.41 net Remainder Interest x 87.5%);
and (c) vaiue of Interest to collateral descendants is equal to $52,160.55 ($417,284.41 net
Remainder Interest x 12.5%).
,
. ~. ..- ~. .
R[V-IUlilIIl.tCll'9!1t
COM....ONW[AL TU or p['j"'~nV^"'IA
SCHEDULE 0
TRANSFERS TO SURVIVING SPOUSE
INucnITANC[ TAli; IU1UR,..
R[Slo[ NT o[cr 01 NT
ESTATE OF Fila Number
Boward C. Towle .Jr. SS" 172-01-9486 IOnO/1995 21-95-0830
PART A: Ental tho doscrlpUon and valuD 01 alllntorosls. both laxablo and non.la)(ablo, fogatdloss ollocaUon and not 01 doductions.
which 898 to tho docodon1'8 GUIVivln 8 OUBa b WiIl,lnloSla .0 orollon allow, or olhorwiso.
Doserl lion ollloms
Item Nos. 1-5 of Schedulo G (Transfel-s).
110m'
1
Amount
61,.395.1,2
2
Revocable Living Trust datod 7/26/94 with Boward C. Towle Jr. as
Settlor 6. Dorothy Towle lIamilton as Trusteo which shall be com-
prised of Schedule B (Stocks 6. honds), Item "1-13, 6. Schedule E
(Cash. Bank Deposits 6. Misc. Porsonal Proporty). Itom #1-5, less
deductions from Schedulo II (Funeral Expenses, Administrative
Costs, Misc. Expenses), Item "A-I to C-14, 6. Schedule I (Dehts.
Mortgago Ltabilitles, Liens). Item #1-2. less the value of the
trust passing to lineal 6. collateral beneflciarios. to be divided
into the following subtrusts:
Spouse's interest In Bypass Trust (Trust B not for 172,842.18
spouse's sole UBO.
Q-Tip Trust (Trust C) for spouse's sole use. 179.912.08
352.754.26
3
Life Insursnce as ttemized on the attached schedule.
64,185.53
Pari A TOlal: Enlor Iho lolal hOlo and In tho .pouso'_ "Amounl Roeolved" b'ock on P_RO 1 481.335.21
Elecllon To Subject Property To Tax Under Secllon 2113(A) As A Texable Transfer By this Decedent.
If a trust or similar arrangoment mools tho roqutromont 01 Seello" 2113(A), and:
a. Tho nusl or similar n,,_ngnmonllsUslod on SChodu'o O. nnd
b. Tho valuo 01 tho trust or similar orrongomont Is onlored In wholo or part os an os901 on Schodulo 0,
thon tho translaror's porsonnt reprosontativo mav spocilicallv Idontity lho trusl (all or alraclional portron or parcentage) 10 be Includod In tho election
10 have ouch (rust or similar property troalod as 0 taxable tronslor In this 09101e. If loss Ihan tho ontira valuo ollho trust or similar property Is Included
8G 0 l!\)(oblo ,ronsfer on Schodulo 0, lho poroonolloprosonlallvD sholl be consldored to hove modo Iho aloclion only os 10 a fraction 01 tho llUsl or
similar arrangomonl. Tho numolalor ollhls Ir"chon Is equal to tho amount ollho Iruut or similar ouongOlnontlncludod 8S aloxoblo aS30t on Schodule O.
TtIO donomlnator Is equal to Iho 10101 valUDollho 1Iust or ulmilor arrangomonl.
ELECTION:Oo you elect undar SocUon 21 13(A) to troat 8S a taxablo transfor In thla estato all or a portion ot a trust or similar arrangement
creatad tor the aole Use at this decedent's 8urvlvlng spouso during tho surviving apouse's entlro IIfoUma?
YES 0 NO [[] Signature Data /.__"I.;_
Note: II the election a lies to more than one truat or similar arran ent. than. Ie arato co of Schedule 0 must be al nod and tIIad.
Part B: Entar tho dascrlptJon and valuo 01 01llntol0919, bolll laxablo Dnd non-tllXablo, rogardtosa of locollon and not 01 doducllon9,
which aso 10 Iho docodonl'o 8urvlvln 8 Quaa lor which B Socllon 2113 A) aloellon Is boln modo.
110m.. Dosal Uon olllorm Amount
.f /
"
Port B TOlnl (soo Innlrucllofl9)
0,00
CopyllghllcllAg!t tOIt'! IUIl"'''"ll1lly C"~ly.t.,.,.. In~.
rOIl'll t500 ~'h.lJloIt. 0 jlhvo. fl-U',)
..
~
:j
:!
'!
tAST WILL AND TESTAMEN"(
ill:
HOWARD C. TOWLE. .JR.
I, HOWARD C. TOWLE, JR., of Cumberland County,
Commonwealth of Pennsylvania, being of sound mind and disposing memory,
realizing the uncertainty of this life, do hereby make, publish and declare this
to be my Last Will and Testament, revoking any and all previous WiUs and
Codicils, and hereby will and dispose of all the property which I own at my
death in the following manner.
I.
As Executrix (hereinafter referred to as "Executor") of this my
Will, I name and nominate my wife, Dorothy L. Towle; if my wife, Dorothy L.
Towle, shall for any reason fail or be unable to serve as Executor, either before
or during her service as Executor, then I nominate and name my daughter,
Dorothy Towle Hamilton; if my daughter, Dorothy Towle Hamilton, shall for
any reason fail or be unable to serve as Executor, either before or during her
service as Executor, then I nominate and name my son-in-law, Robert L.
Hamilton.
II.
I direct that my debL~ and the expenses of my last illness and
funeral shall be paid by 'my Executor as soon after my decease as may be
convenien t.
m.
All of my automobiles, households and personal effects and other
tangible personalty of like nature, together with insurance thereon, I give to my
said wife, if she shall survive me; but if my wife does not so survive me, then
equally to such of my children as to survive me, to be divided among them as
1
they may determine, or, should they be unable to agree, as my Executor may
decide. IV.
I give, devise and bequeath all the residue of my estate, real,
personal, and mixed wherever situated, including any property over which I may
have any power of appointment, unto the Trustee of the Trust established by
that certain Trust Agreement executed July 26, 1994, by myself as Settlor and
naming Dorothy Towle Hamilton as Trustee (hereinafter referred to as
'Trustee") to be administered and disposed of as part of the aforesaid Trust as
an addition to the principal subject to that Trust Agreement as it exists at my
death.
v.
I give to my Executor, in addition to and not in limitation of
common law and statutory powers, all of the powers and discretions given to
my said Trustee in the aforesaid Trust Agreement, including amendments
thereto, incorporated by reference herein. All such powers and discretions may
be exercised by my Trustee or by my Executor without application to any court.
In the event said Trust Agreement, including any amendments thereto, shall not
be in effect at the time of my death, and/or in addition to the powers therein
granted I give my Executor the following powers, in addition to powers given
by law:
A. To retai~. any investment owned by me at my death.
B. To make such investments and reinvestments and in such
proportions, without limitation to what are known as legal
investments, as shall be considered beneficial to my estate,
including common and preferred stock, securities in the
corporate fiduciary or in a holding company controlling the
corporate fiduciary and common trust funds operated by the
corporate fiduciary.
C. To (1) participate in any merger or reorganization affecting
securities held hereunder at any time; (2) deposit stocks under
2
voting agreements; (3) exercise any option to subscribe for stocks,
bonds or debentures; and (4) grant proxies, discretionary or
otherwise, to vote shares of stock.
D. To manage, operate, repair, alter or improve real estate or
other property, and to lease real estate and other property upon
such tenns and for such periods as my Executor deems advisable.
E. To sell (and to grant options for the sale of) any real or
personal property at public or private sale for such prices and
upon such tenns as my Executor considers proper, without
liability on the purchasers to see to the application of the
purchase money.
F. To borrow money without liability on the part of the lenders
to see to the application thereof, and to mortgage or pledge any
real or personal property.
G. To 'register securities and other property in the name of a
nominee.
H. To make distribution in kind in shares different in kind from
other shares, at valuations to be fi.'ted \\ithin the sole discretion
of my Executor.
I. To compromise claims.
J. To make partial distribution to nny beneficiary under this
Will, including the Trustee of the said Trust Agreement,
including any amendments thereto, mentioned in paragraph IV
of this Will, (prior to the final settlement and distribution of my
estate. The amounts of such partial distributions, the time or
times when they shall be made, and the occasions on which such
distribution shall require recomputation of the beneficiaries'
proportionate interests hereunder for purposes of equitably
allocating income and changing asset values pending final
distribution shall be entirely within the discretion of my Executor.
K. To detennine whether to elect (under Section 2056 (b) (7) of
the Internal Revenue Code of 1986, as amended, or any
corresponding provision of state Jaw) to qualify all or a specific
portion of the Trust C (or where applicable, Trust D) property
3
created in Article V of the Trust Agreement between Dorothy
Towle Hamilton Trustee, and me, Settlor, dated July 26,1994, for
the Federal Estate Tax Marital Deduction and any marital
deduction available under the law of the state in which I am
domiciled at the time of my death. I suggest, but do not direct,
that in exercising such discretioa, my Executor attempt to
minimize (or eliminate, if possible) the Federal and State Estate,
Inheritance or other death taxes payable by my estate at the time
of my death. However, my Executor should also consider the
effect of such election upon the Federal and State Estate,
Inheritance or other death taxes which will be payable by my said
wife's estate at her death, particularly if she dies before the
election must be made. The decisioa of my Executor with
respect to the exercise of the election shall be final and
conclusive upon all persoas whose interest in my estate are
directly or indirectly affected by the election.
L. To (i) determine the maximum amount of Generation
Skipping Tax ("GST") exemption available for allocation after
taking into account all allocations (if any) made or deemed to
have been made by me pursuant to Section 2632 of the Code
prior to my death, and (ii) allocate such maximum amount to
property of which I am the transferor (as defined in Section
2652(a) of the Code) to the following in the order of priority
elected by my Executor, but suggested to be as follows: (a) to all
direct skips (as defined in Section 2612(c) of the Code) other
than any direct skips resulting from a disclaimer; (b) to property
distributed by the Trustee of my said Trust Agreement to Trust
B of said Trust Agreement; (c) to property distributed by the
Trustee of my said Trust Agreement to Trust C (or, where
applicable, 'rrust D); and (d) to property of Trusts A or C of my
spouse's Trust Agreement, if any, up to the value of any
distribution from either or both of said Trusts.
M. To determine whether to elect (under Section 2652(a)(3) of
the Code) to qualify all or a specific portion of the Trust C (or,
where applicable, Trust D) property created in Article V of my
said Trust Agreement in order to maximize the amount of GST
exemption available for aIJocation to my estate.
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VI.
I direct that all estate, inheritance and succession taxes, and
interest and penalties thereon, which may be due and payable by reason of my
death with respect to any property included in my gross estate for tax purposes,
whether or not passing under this Will and any Codicil hereto shall he borne
by the principal of my residuary estate passing under paragraph IV hereof, but
this direction shall not be construed to detract from the discretionary powers
granted to my Trustee under my said Trust Agreement, including any
amendments thereto, mentioned in paragraph IV of this Will. In any event, to
the extent that taxes are paid from assets held in the said Trust Agreement, the
direction contained in this paragraph shall apply only to such taxes as remain
unpaid. I further authorize my Executor to prepay taxes on future and
remainder interests if deemed advisable.
VII.
In the event an election to do so is provided by law, I direct my
Executor to claim any expenses of administration of my estate as income tax
deductions whenever and to the extent that in my Executor's sole judgment
such action will achieve an overall reduction in the income tales and
inheritance, estate and succession ta'(es for the benefit of my estate and the
beneficiaries thereof. I further direct that no compensating adjustments as
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between income and prin~pal accounts shall be required or made as a result
of such action.
VIII.
I direct that no bond or other security be required of my said
Executor or Trustee in any jurisdiction in which they or either of them may act.
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IX.
If my wife and I shall die under circumstances that the order of
our deaths cannot be determined or established, it shall be conclusively
presumed for all purposes of this Will that my wife survived me.
Mark
IN WITNESS WHEREOF I have hereunto set my hnBe-and-wal
this M day of A /.l !JiJs/- ,1995, to this my Last Will and Testament
typewritten on nine (9) sheets of paper (including witnesses' signatures).
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MARK OF HOWARD C. TOWLE, JR.
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COMMONWEALTH OF PENNSYLVANIA
c...." 1o.or\o.,J)
COUNTY OF D1\UI'ffiN
ss.
Mark.i~~~b~cribed to
I, HOWARD C. TOWLE, JR., Testator, whose-eame-I&-SlgDeU-to
the foregoing instrument, having been duly qualified according to law, do
by Merk
hereby acknowledge that I signed/and executed the instrument as my Last Will
by Merk by Mark
and Testament; that I signed/it willingly; and that I signed/it as my free and
voluntary act for the purposes therein expressed.
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HOWARD C. TOWLE, JR.
Sworn of affirmed to and acknowledged
es the Mark of
before me/by HOWARD C. TOWLE, JR., the Testator,
this Js+ day of A l.( ~ OJ ~+ , 1995.
("'0 ~,tfH ~
Notary Public
(SEAL)
My Commission Expires:
Na:IriaI SQ
~ Bv..NI:ay PI.ttc
....,ea.ms.o;~~~
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tions, duties, or rights of the Trustee without the written consent of the Trustee to
such amendment.
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2.02. Settlor's Duties on Revocation. If the entire Trust is revoked by the
Settlor, the Trustee shall payor transfer to the Settlor an of the Trust Estate and
shall execute and deliver to the Settlor all instruments which are necessary or
appropriate to release all interests of the Trustee in the Trust Estate.
ARTICLE III. PREMIUMS
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3.01. Pavrnent. Notwithstanding any general grant of power to pay premiums,
in no event shall the Trustee have a duty to pay, or be liable for the nonpayment of,
any premium or assessment on any policy held by it hereunder, whether or not this
Trust shall have become irrevocable and whether or not the Trustee shall have
become the OWDer of the policy.
3.02. Information. The Trustee shall not have any duty to keep itself
informed, or to inform others, with respect to the payment of any premium or
assessment.
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ARTICLE IV. DISTRIBUTION DURING LIFETIME OF SE'ITLOR
4.01. Net Income to Settlor. At least annually during the life of the Settlor,
the Trustee shan pay an the net income from the Trust Estate, unless otherwise
directed by the Settlor in writing, first toward any premium or assessment on any
policy held by it hereunder, and, out of any residue, thereafter, pay the Settlor or
apply said residue for the benefit of the Settlor.
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4.02. Incompetencv. lithe Settlor becomes incapacitated through illness, age,
or other cause, then such portion of the net income or principal of the Trust Estate
shall be applied towards the support, care, and benefit of the Settlor, Settlor's Wife
and Settlor's children as the Trustee, in his discretion, shall determine without regard
to the Settlor's other means of support.
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ARTICLE V. DISTRIBUTION AFTER THE DEATH OF THE SE'ITLOR
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5.01. Prior Death or Settlor's Wife. If Dorothy L. Towle the wife of Settlor,
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does not survive the Settlor, the entire Trust Estate shall be held, administered, and
distributed in accordance with the terms and provisions applicable to Trust Band,
when funded, Trust D, as providcd in this Article V, and in accordance with the
provisions for division into separate Trusts set forth in Paragraph 5.02 of this Trust
Agreement, but excluding Trust A and Trust C and not necessarily limited by the
unified credit against Federal Estate Tax allowable to Settlor's Estate.
5.02. Division Into Four Separate Trusts. On the death of the Settlor, if the
Wife of the Settlor is then living, the Trust Estate shall be divided into as many as
four separate Trusts, hereinafter referred to as Trust A, Trust B, Trust C, and Trust
D. Trustee shall first fund Trust A, then Trust B, then Trust C, and finally, Trust D,
in that order. Trust A shall consist of the assets owned by the Settlor's Wife together
with the value of any additional assets which, by reason of the death of the Settlor,
will be added to the estate of Settlor's Wife which will not exceed, when added to all
of the other assets of Settlor's Wife, a sum equal to the dollar amount, if any, which
can pass (at the time of designation of this Trust A by Trustee or the date of death
of Settlor's Wife, whichever shall first occur) free of Federal Estate Tax in the estate
of Settlor's Wife by reason of the unified credit against Federal Estate Tax allowable
to Settlor's Wife's estate. Trust B shall consist of assets selected by the Trustee
which can pass free of Federal Estate Ta'C in the estate of Settlor by reason of the
unified credit against Federal Estate Tax allowable to Settlor's estate. Trust B is also
intended to be considered by Settlor's Executor and Trustee as the first Trust to
which any Generation Skipping Tax ("GST") exemption of Settlor should be elected.
Trust C shall consist of all the remaining assets of the Trust unless Trustee and the
Executor(s) of the Estate(s) of Settlor or Settlor's Wife shall elect to establish Trust
D for purposes of allocation of the available GST exemption(s) of Settlor and his
said spouse to one Trust which has solely exempt property under the GST, that Trust
to be Trust Cj and all other remaining property not eligible for the said GST
exemption(s) shall be allocated to Trust D. Trusts C and D are intended to qualify
as Qualified Terminable Interest Property Trust(s) (under Section 2056 of the
Internal Revenue Code of 1986, as amended, or any corresponding provision of state
law) upon the election of the Executor of Settlor's Estate as to the whole or any
portion thereof for qualification for the Federal Estate Tax Marital Deduction and
any marital deduction available under the law of the state in which the Settlor is
domiciled at the time of his death; and, to the extent necessary also to maximize the
amount of the GST exemption available to Settlor and his spouse. Settlor hereby
suggests, but docs not direct, that in exercising such discretion, his E:<ecutor shall
attempt to minimize (or eliminate, if possible) the Federal and State Estate,
Inheritance or death taxes payable by Settlor's cstate at the time of his death.
However, Settlor's E:<ecutor should also consider the effect of such election(s) upon
the Fedcral and State Estate, Inheritance or other death taxes which may be payable
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by Settlor's Wifc's estate at her death, particularly if she dies before any election by \
Settlor's Executor must be made as it affects Settlor and, when applicable, his Wife's
estate(s). The decision of Settlor's Executor with respect to the exercise of any \
""tioo(,) ,b.11 b, Iiod ~d 00.0\..,.. 'P" .u P''''' wb.., 'n1'~'" m S,",,,', I
estate are directly or indirectly affected by the election(s). The assets of Trust A.
Trust C and Trust D may be subject to further allocation between Trust B and Trust ;
A or Trust C or Trust D in the event Settlor's Wife shall disclaim any of the rights I
or assets to which she might otherwise be entitled by this Paragraph 5.02, in which I
event such assets shan become a part of Trust B or Trust D, in that order, as elected \,
by Settlor's Executor.
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5.03. Distributions From Trost A. Trust A shall be held, administered, and I \
distributed as fonows:
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(1) Income Pavrnents. The Trustee shall pay to or apply for the benefit of
the Wife of Settlor, Dorothy L. Towle from the date of the Settlor's death, during her
lifetime, all of the net income of Trust A in monthly or in other convenient
installments, but in no event less often than annually.
(2) Prlnclnal Pavrnents. If at any time in the discretion of the Trostee, the
Wife of the Settlor, Dorothy L. Towle, should be in need of additional funds for her
proper health, maintenance and support, the Trustee, in addition to the income
payments hereinabove provided, shall in her discretion pay to or apply for the benefit
of the Wife of the Settlor such amount from the principal of Trust A, up to the
whole thereof, as the Trustee from time to time deems advisable.
(3) WIthdrawal of Prlnclnal. The Wife of the Settlor shall have the right,
from time to time, to direct the Trustee in writing to pay to her or to apply for her
benefit such amounts from or portions of the principal of Trust A, up to the whole
thereof, as she may designate. The Trustee shall comply with any such written
directions and shan have no responsibility whatsoever to inquire into or determine
for what purpose any such withdrawals are made.
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(4) Distribution on Death of Settlor's Soouse. On the death of the Wife of
the Settlor, the Trustee shan distribute the balance of the Trust Estate of Trust A,
including all principal and any accrucd or undistributed income, to such person or
persons, including his estate, the creditors of his estate, or the creditors of the Wife
of the Settlor, as she shall appoint. This power of appointment is exercisable by the
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Wife of the Settlor alone and in all events, The appointment shall be in the amount:;
or proportions and on the terms and conditions, either outright or in Trust, as the
Wife of the Settlor shaU appoint in her last Will duly admitted to probate and
specificaUy referring to and exercising this power of appointment, whether or not her
Will is executed before or after the death of the Settlor. Before distributing the
aforesaid balance of the Trust Estate, the Trustee shaU pay any Inheritance, Estate
or other death taxes that may be due by reason of the death of the Wife of the
Settlor in connection with her interest in the Trust Estate of Trust A. If there should
be a failure to dispose of aU or any portion of the Trust Estate of Trust A, either in
connection with the exercise or as a result of the non-exercise of the aforesaid
general power of appointment, aU of the Trust Estate not so disposed of shall be
distributed by the Trustee to Trust B or Trust D as provided hereinabove.
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5.04. Distribution from Trust B. Trust B shall be held, administered, and
distributed as foUows:
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(1) Income PaYments. During the lifetime of the Wife of the Settlor, Trustee
shall pay so much of the net income of Trust B as she may deem necessary and
appropriate to fulfill the purposes of this Trust as is more specifically set forth in
paragraph 5.04(2) of this agreement.
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(2) Prlnclnal PaYments, Trustee may distribute to the Wife of Settlor such
amounts from the principal of Trust B, up to the whole thereof, as the Trustee, in
its discretion, shaU deem necessary or advisable to provide for the health,
maintenance, or support of the Wife of the Settlor, and so as to support Settlor's
Wife in her accustomed manner of living. Provided, however, Trustee shall consider
any other sources of income available to Settlor's said Wife when making payment
to her hereunder, Trustee shaU, when requested in writing by Settlor's Wife, pay five
(5%) percent of the principal or $5,000,00, whichever amount is greater, annuaUy to
Settlor's said Wife during her lifetime. This limited right to make withdrawals from
the principal of the Trust Estate is noncumulative, so that an amount which might
have been withdrawn during a particular year may not be withdrawn in any
subsequent year. In addition, the Trustee, in its sole discretion, may distribute
principal among the Settlor's children as Trustee may detennine important and
proper for said children's health, maintenance, support, or education. The said
payments to Settlor's said children shall only be made by Trustee so long as said
children are dependent upon Settlor's said Wife whether they arc minors or adults
or in the event of the disability of Settlor's Wife when, in the discretion of Trustee,
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the Trust Estate and other assets of Settlor's Wife are more than sufficient to meet
her reasonably foreseeable needs during her lifetime.
(3) Division Into Shares on Denth or Settlor's Spouse. On the death of the
survivor or the Settlor or his Wire, the Trustee shall make distribution of the
remaining trust assets as follows:
(a) The specific sum of Five Thousand ($5,000,00) Dollars to The Pine Street
Presbyterian Church, 310 North Third Street, Harrisburg, Pennsylvania.
(b) Fifty percent (50%) of the remaining trust assets to Settlor's daughter,
Dorothy Towle Hamilton. In the event Settlor's said daughter shall not be
then living, this gift shall lapse and the whole of the Trust shall be distributed
in accordance with (3)(c) below.
(c) Fifty percent (50%) of the remaining trust assets to be divided and
distributed in equal shares among Settlor's son-in-law, Robert L. Hamilton,
and each of Settlor's then-living grandchildren.
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(d) If, upon the death of Settlor and his said Wife, Settlor's son-in.law or any
of Settlor's grandchildren shall have died, or shall die at any time before or
during the continuance of any Trusts created herein, leaving issue then surviv-
ing, the principal and accumulated income, if any, of the Trust share for said
son-in-law or child shall be paid over to his or her said issue per stimes.
provided, however, that if any of said issue be under the age of 21 years,
Trustee shall apply the income and principal of their respective shares, in
Trustee's sole discretion, for the health, support, maintenance or education
of such issue, without the intervention of a guardian. Upon attaining the age
of 21 years, Trustee shall distribute the balance of the share of any such
beneficiary to the beneficiary.
(e) If Settlor's son-in-law or any of Settlor's grandchildren sball die at any
rime during the continuance of this said Trust, leaving no issue then surviving,
the principal and accumulated income, if any, of this said Trust for Settlor's
said beneficiary shall be maintained by Trustee, in Trust, for the benefit of
Settlor's surviving grandchild or grandchildren, or then living issue, per stimes,
subject, nevertheless, to the provisions hereinabove.
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(5) Termination. If at any time the Trustee, in its discretion, deems the best \
;"l<'~" of"" fo<om. B,",Bd.", <0 b. b..,..~d by d;,tn.,.oo <0 him "' b" of '
the entire principal of the share or subshare then held for him or her, due to the i
small size thereof or for any other reason, the Trustee may convey, transfer, and pay
over the same to such beneficiary, absolutely and free of trUst.
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(4) Spendthrift Provision, No principal or income payable or to become
payable under this Trust shall be subject to anticipation or assignment by any
beneficial)' thereof or to attachment by or to the interference or control of any
creditor of any such beneficiary, or be taken or reached by any legal or equitable
process in satisfaction of any debt or liability of such beneficiary prior to its actual
receipt by the beneficiary,
(6) Definitions. As used in this Trust Agreement, the following terms arc
defined as follows:
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(a) All references to the ''Trust'' or the ''Trust Estate", unless otherwise
specifically provided for herein, refer to each of the separate Trusts herein
provided for, respectively, and the Trust Estate of each Trust.
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(b) The tenn "education" includes both post high school, trade school
education, college and postgraduate study at any educational institution of the
beneficiary's choice for any period of time that, in the judgment of the
Trustee, is advantageous to the beneficiary concerned; the Trustee shall
provide adequate amounts for all related living and travel expenses of the
beneficiary within reasonable limits,
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(7) Other Resources, TIle Trustec, in exercising its discretionary authority
with respect to the payment of income or principal of the Trust Estate to any
beneficiary, shall take into consideration any income or other resources available to
such beneficiary from sources outside of this Trust that may be known to the Trustee.
The Trustee may accept as final and conclusive the written statement of the
beneficiary receiving payment as to other available income or resources. The
determination of the Trustee with respect to the advisability of making payments out
of principal to any beneficiary shall be conclusive on all persons howsoever interested
in the Trust.
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(8) Incapacltv of Beneficiaries. In the event that any beneficiary or legatee
of any Trust Estate, by reason of illness, age, incapacity or other cause, shall, in
Trustee's opinion, be unable properly to receive and disburse the income or principal
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to which he may be entitled, then Trustee, in its sole discretion, shall pay and apply
the income and principal due such beneficiary or legatee to his comfortable
maintenance and support, without the intervention oC any guardian or committee and
without being required to apply to any Court for leave to make such payments. The
powers exercised under this provision shall rest solely in the discretion of Trustee.
(9) Support of Benenclaries. The aCorcsaid payments Cor the health, support,
maintenance, and education of each of the aforesaid beneficiaries may, in the
discretion of the Trustee, include contributions for the health, support, maintenance,
and education of the guardian of the person of such beneficiary and also of the
guardian's spouse and children.
(10) Pavmcnt of Undistributed Incomc. On the termination of any interest
in this Trust, all undistributed income in the hands of the Trustee shall be paid to the
person or persons next entitled to income by the terms of this Trust Agreement.
5.05. Trust C and Tnlst D Admlplstratlon and Distribution. Any assets used
to fund Trust C (and Trust D, when funded), as created by paragraph 5,02 of this
Trust Agreement, shall be held, administered and distributcd as follows:
(1) Incomc Payments, During the lifetime of the Wife of the Settlor, Trustee
shall pay to Settlor's Wife thc net income of Trust C (or Trust D) in convenient in-
stallments at least quarter-annually.
(2) Principal Pavments, Trustee may distribute to the Wife of the Settlor
such amounts from the principal of Trust C (or Trust D) as the Trustee in its
discretion, shall deem necessary or advisable to provide for the health, maintenance,
and support of the Wife of Settlor, and so as to support Settlor's Wife in her
accustomed manner of living,
(3) Payment of Taxes Relatlnl! to Trust C (or Trust 0). Upon the death of
Settlor's Wife, Trustee shall pay to the Executor of Settlor's Wife's estate, out of the
principal of Trust C (or Trust D), an amount equal to the Estate, Inheritance,
Transfcr, succession or other death taxes (death taxes) Federal, State and other,
payable by rcason of the inclusion of the value oC the Trust C (or Trust D) property
in her estate, Such payments shall be equal to thc amount by which (a) the total of
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such death t:l."tes paid by the Wife's estate exceed (b) the total death la."tes ,,"'hicD
would have been payable if the value of the Trust property had not been included
in her estate. The determination of the Wife's E"teC'oItor(s) of the amount payable
hercunder shall be final; the Trustee shall pay such amount promptly upon written
request of the Wife's E"tecutor(s). The Settlor's Wifc may waive her estate's right
to payment under this subparagraph by a Will in which she specifically refers to the
right to payment hereby given to her estate.
(4) Distribution Ueon DC3th of Settlor's Seouse. On the event of the death
of Settlor's Wife, the Trustee shall make division and distribution of the remaining
funds in Trust C (or Trust D) in accordance ....ith the terms and provisions of
paragraph 5.04(3) of the said Trust Agreement. .
(5) Pavrnent of Undistributed Income. On the termination of the interest of
the Wife of Settlor, all undistributed income shall be paid to the Estate of Settlor's
Wife.
(6) Miscellaneous Provisions. All of the provisions of paragraph 5.04(4)
through and including (10), to the extent they may be applicable to the
administration of Trust C (or Trust D), shall be available to the Trustee and
applicable to the administration of Trust C (or Trust D).
ARTICLE VI. POWERS OF TRUSTEE
6,01. Descriotlon of Powers, In order to carry out
the purposes of this Trust Agreement, the Trustee, in addition to all other powers
granted by law, shall have the follo....ing powers and discretion:
(1) Rel.:lIn Assets, To continue to hold any and all property received by the
Trustee or subsequently added to the Trust Estate or acquired pursuant to proper
authority, including shares of Trustee's own steck and stock in any corporation
controlling, controlled by, or under common control with the Trustee, if and as long
as the Trustee, in exercising reasonable prudence, discretion. and intelligence,
considers that thc retention is in the best interests of the Trust; provided, however,
that nonincoO'le.producing or unproductive property shall not be retained as an asset
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of the Trust for more than a reasonable time during the lifetime of the Wife of the
Settlor, without the written consent of the Wife of the Settlor.
(2) Invcstmcnts. To invest and reinvest in every kind of property, real,
personal, or mixed, and every kind of investment, specifically including, but not by
way of limitation, corporate obligations of every kind, and stocks, preferred or
common, which men of prudence, discretion, and intelligence acquire for their own
accounts.
(3) Mnnnl!ement of Securities, To excrcise, respecting securities held in the
Trust Estate, all the rights, powcrs, 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; to participate
in voting trusts, pooling agreements, foreclosures, 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 advisablej to exercise or sell stock subscription or conversion rights; to
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.
(4) Fonn of Ownership of Trust Propcrtv. To hold securities or other Trust
property in the name of the Trustee as Trustee under this Trust Agreement or in the
Trustee's own name or in the name of a nominee or in such conditions where
ownership will pass by delivery,
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(5) Business Intcrcsts, To continue and operatc, to sell or to liquidate, as
the Trustee dcems advisable at the risk of the Trust Estate, any business or
partnership interests received by the Trust Estate; provided, however, that a
nonincome.producing or unproductive business or partnership interest shall not be
held as an asset of the Trust for more than a reasonable time during the lifetime of
the Wife of the Settlor without the written consent of the Wife of the Settlor.
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(6) Scll nnd Exchnnl!c, To scll for cash or upon such terms and conditions
(as to credit or othcrwise) as the Trustee may deem appropriate, at public or private
sale, to exchange, and to convey any property of the Trust Estate,
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(7) Division of Trust Estatc, On any division of the Trust Estate into
separate shares or Trusts, to apportion and allocate the assets of the Trust Estate in
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cash or in kind, or partly in cash and partly in kind, or in undivided interests in the
manner deemed advisable in the discretion of the Trustee; after any division of the
Trust Estate, the Trustee may make joint investments with funds from some or all
of the several shares of Trusts, but the Trustee shall keep separate accounts for each
share or Trust.
(8) Abandonment of Trost Assets. To abandon any Trust asset or intefest
therein in the discretion of the Trustee.
(9) Option. To grant an option involving disposition of a Trust asset and to
take an option for the acquisition of any asset by the Trust Estate.
(10) Lease. To lease any real vr personal property of the Trust Estate for
any purpose for terms within or extending beyond the duration of the Trust.
(11) Property Manal!ement. To manage, control, improve, and repair real
and personal property belonging to the Trust Estate.
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(12) Development of Property. To partition, divide, subdivide, assign,
develop, and improve any Trust property; to engage in fepresentations before public
real estate authoritiesj to adjust boundaries or to adjust diffefences in valuation on
exchange Of partition by giving or receiving consideration; and to dedicate land or
easements to public use with or without consideration.
(13) Repair. Alter. Demolish. and Erect. To make ordinary and extraordinary
fepairs and alterations in buildings or other Trust property, to demolish any improve-
ments, to raze party walls or buildings, and to erect new party walls or buildings as
the Trustee deems advisable.
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(14) Borrowlnl! and Encumberlnl!, To borrow money for any Trust purpose
from any person, firm, or corporation, including one acting as Trustee hefeunder, on
the terms and conditions deemed appropriate by the Trustee and to obligate the
Trust Estate for repayment; to encumber the Trust Estate or any of its property by
mortgage, deed of Trust, pledge, or otherwise, using whatever procedures to
consummate the transaction deemed advisable by the Trustee; to replace, fenew, and
extend any encumbrance and to pay loans or other obligations of the Trust Est.ate
deemed advisable by the Trustee.
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(15) Natural Resources. To enter into oil, gas, liquid or gaseous
hydrocarbon, sulphur, metal and any and all other natural resourcc leases on terms
deemed advisable by the Trustee, and to enter into any pooling, utilization,
repressurizations, community, and other types of agreements relating to the
exploration, development, operation, and conservation of properties containing
minerals or other natural resourceSj to drill, mine, and otherwise operate for the
development of oil, gas, and other minerals; to contract for the installation and
operation of absorption and repressuring plantsj and to install and maintain pipelines.
(16) Insurance. To procure and carry at the expense of the Trust Estate
insurance of the kinds, forms, and amounts deemed advisable by the Trustee to
protect the Trust Estate and the Trustee against any hazard.
(17) Enforcement of HVIlothecatlons. To enforce any mortgage or other real
or personal property security interest held by the Trust Estate and to purehase at any
sale thereunder any property subject to any such hypothecation,
(18) Extendlnl! Time of Pavment of Oblll!atlons, To extend the time of
payment of any note or other obligation held in the Trust Estate, including accrued
or future interests, in the discretion of the Trustee.
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(19) Adlustmcnt of Claim, To compromise, submit to arbitration, release
with or without consideration, or otherwise adjust claims in favor of or against the
Trust Estate.
(20) Lltll!atlon, To commence or defend at the expense of the Trust Estate
any litigation affecting the Trust or any property of the estate deemed advisable by
the Trustee.
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(21) Administration Expenses, To pay all taxes, assessments, compensation
of the Trustee, and all other expenses incurred in the collection, care, administration,
and protectiop of the Trust Estate.
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(22) Emplovment or Attomevs. Advlscrs. and Othcr Al!cnts. To employ any
attorney, investment adviscr, accountant, broker, tax specialist, or any other agent
deemed necessary in the discretion of the Trustee; and to pay from the Trust Estate
reasonable compcnsation for all services performed by any of them.
In particular Trustee shall have the power to employ agents to advise the
Trustce in the administration of the Trust Estate. Rather than performing any duty
personally, the Trustee may delegate to the agent the performance of the Trustee's
duties, whether discretionary or not. The Trustee shall not, however, have the power
to delegate to another the entire administration of the Trust Estate.
If the Trustee exercises its power to employ agents to assist in the
administration of the Trust Estate or to perform specific duties for the Trustee, the
Trustee may rely upon the agent's advice or performance without any independent
investigation or analysis by the Trustee and shall not be liable for any error or
omission of the agent provided:
A. The Trustee acts prudently in selecting the agent;
B. The Trustee executes a written contract with the agent which provides
that:
(1) The agent agrees that the agent is assisting the Trustee in
fulfilling duties owed by the Trustee to the beneficiaries of the
Trust Estate;
(2) The agent agrees that it is subject to the jurisdiction of the
probate court to which the Trustee is subject;
(3)
The agent agrees to provide either evidence of insurance
covering the agent's errors or omissions or other evidence which
the Trustee deems sufficient that the agent is able to provide
financial compensation to the Trust Estate and its beneficiaries
in the event of the agent's error or omission.
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The agent performs on the contract.
The Trustee takes reasonable steps to permit the beneficiaries of the
Trust Estate to seck redress from the agent.
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(23) Loans, To make loans, secured or unsecured, in such amounts, upon
such terms, at such rates of interest, and to such persons, finns, or corporations as
Trustee shall think fit.
(24) Distribution, On any partial or final distribution of the trust Estate, to
apportion and allocate the assets of the Trust Estate in cash or in kind, 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.
(25) Nonlncome-Produclnl! or Unoroductlve Asset. If the Wife of the Settlor
or any other beneficiary or guardian of any beneficiary of any Trust created in this
Agreement shall, by written instrument delivered to the Trustee, direct the Trustee
to convert any nonincome-producing or unproductive asset held in the Trust Estate
to income-producing property, the Trustee shall, within a reasonable time after its
receipt, comply with the direction.
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(26) Emolovee Benefit Plans. Trustee shall use its discretion to elect the
most propitious settlement option with regard to any qualified employee benefit plans
available to Settlor at the time of his death so long as such election shall be in
accordance with the Plan's Administrative Committee or Administrator, as the case
may be.
(27) General. To do all the acts, to take all the proceedings, and to exercise
all the rights, powers and privileges which an absolute owner of the property would
have, subject always to the discharge of his fiduciary obligations; the enumeration of
certain powers in the Trust Agreement shall not limit the general or implied powers
of the Trusteej the Trustee shall have all additional powers that may now or
hereafter be conferred on him by law or that may be necessary to enable the Trustee
to administer the Trust in accordance with the provisions of this Trust Agreement,
subjcct to any limitations specified in this Trust Agreement.
6.02. Settlement of Settlor's Estate, Subjcct to the provisions of paragraph
6,03 Trustee shall have the power, but not the duty, upon Settlor's death, to make
such expenditures out of the principal of the Trust as Trustee may think desirable in
order to facilitate the settlement of Settlor's estate. In exercising such power,
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Trustee may pay, in part or in whole, any or all of the following items: the expenses
of Settlor's last illness and burial, her debts, income taxes owed by her, any or all
death taxes and interest and penalties thereon, and the expenses of admini<tering
Settlor's estate. Any such items may be paid directly by Trustee or else the funds for
the payment thereof may be transferred by Trustee to Settlor's personal
representatives; and neither such personal representatives nor any beneficiary of
Settlor's estate shall be required to reimburse Trustee for any fund so paid or
transferred. This power may be exercised even if some or all of the beneficiaries of
Settlor's estate have no interest under this Agreement. It is particularly requested
that the powers herein granted be exercised liberally in favor of the prompt and
convenient settlement of Settlor's estate and particularly to relieve any situation that
may arise as a result of there being insufficient cash in the hands of Settlor's
executors or administrators with which to accomplish such settlement.
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6.03. Sneclal Directions, Notwithstanding anything to the contrary contained
in this Trust Agreement. Settlor directs that all proceeds received by the Trustees
hereunder from "qualified" plans exempt from federal estate tax under the applicable
provisions of the U. S. Internal Revenue Code shall become a part of the corpus of
this Trust Agreement and any of the Sub-Trusts created hereunder, free and clear
of all debts, taxes or other obligations of Settlor's estate and without diversion to, or
for the benefit of Settlor's estate administration. In order to accomplish this
purpose, Trustee is authorized to maintain such separate or special bank accounts,
or otherwise identify and segregate such funds as it may deem to be necessary or
appropriate to insure compliance with the direction contained in this paragraph.
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6,04 Restrictions orthe Exercise or Certain Powers, U a beneficiary is serving
as trustee of a trust, any power to make discretionary distributions to or for the
benefit of that beneficiary (including distributions to the beneficiary's spouse and
distributions in discharge of any legal obligation of the beneficiary) shall be
exercisable solely by the trustee or trustees other than the beneficiary. U no other
trustee is then surviving, such power shall not be exercisable. The preceding
sentences shall not apply to a power to make distributions to the beneficiary pursuant
to a standard limiting such distributions to the beneficiary's needs for health, support
and maintenance.
6.05 Sneclnl Power of Settlor's Sllouse. After the death of Settlor, Settlor's
surviving spouse shall have the right during her lifetime and without court approval
to substitute for (remove) thc then-acting Trustee of the Trusts created hereunder
with any corporate Trustee located anywhere within the United States by giving sixty
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7.05. Reshmatlon of Trustee nnd Successor Trustees. Trustee may rcsign and
discharge herself from any Trust created hereunder at any time, and on such resig-
nation the Settlor may appoint a successor Trustee. If the Settlor shall then be
deceased, Robert L. Hamilton, shall servc as successor Trustee. If Robert L.
Hamilton, is unable or unwilling to serve as Trustce, then all the competent adult
bcneficiaries of the Trust Estate, as it may then have bcen divided, shall have the
right to appoint a successor corporate Trustee, and any such appointment shall be
binding and conclusive on all persons interested herein. Provided, however, that a
non-spouse Trustee shall be authorized to act as sole Trustee at his or her election,
If the competent adult beneficiaries shall fail to appoint a successor, then a court of
competent jurisdiction shall appoint the successor.
7.06. Accounts. The Trustee shall each year render an account of his
administration of each Trust hereunder to each beneficiary of this Trust to whom
income of such Trust may be distributed (or such beneficiary's guardian). Such
person's (or the guardian's) transactions stated therein or shown thereby, shall be
final and binding on all persons (whether in being or not) who arc then or may
thereafter become interested in, or entitled to share in, either the income or the
principal of such Trust, provided always, however, that nothing contained in this
paragraph 7.06 shall be deemed to give such person (or the guardian) acting in
conjunction with the Trustec the power to alter, amend, revoke or terminate such
Trust.
ARTICLE VIII. CONSTRUCTION OF THE TRUST
8.01. Governln!! Law, This Trust Agreement shall be governed by the laws
of thc Commonwealth of Pennsylvania.
8,02. Severa bill tv. If any part, clause, provision, or condition of this Trust
Agreement is held to be void, invalid, or inoperative, such voidness, invalidity, or
inoperativeness shall not affect any other clause, provision, or condition hereof; but
the remainder of this Trust Agreement shall be effective although such clause,
provision, or condition had not been contained herein,
8.03, Interpretive Clause. As used in this Trust Agreement, the masculine,
feminine, or neuter gender, and the singular or plural number shall each be deemed
to include the others whenever the context so indicates.
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8,04, Presumption of Order of Dent" If the Settlor and his Wife shall die
under such circumstances that it is doubtful or difficult to prove which of them died
first, then, for purposes of this Agreement it shall be conclusively presumed that the
Settlor's Wife shall have survived the Settlor. In any case where an Income
Beneficiary and remainderman die under such circumstances, then, Cor purposes of 1
this Agreement, it shall be conclusively presumed that the Income Beneficiary shall
have survived the remainderman.
8,05, Notice of Events. Until the Trustee shall have received written notice
of any birth, death, or other event on which the right to receive payment from the
Trust Estate may depend, it shall incur no liability for disbursements or distributions
theretofore made in good Caith.
8.06. Perpetuities. Notwithstanding anything herein contained to the
contrary, no Trust created hereby shall continue for more than 21 years after the
death of the last survivor of the Settlor, his Wife, his children, and such descendants
of the Settlor as are in being at the date of the death of the Settlor, and if at the
expiration of such period any property is still held in Trust hereunder such property
shall immediately be distributed to and among the persons then receiving or entitled
to have the benefit of the income therefrom in the same proportions in which they
are receiving or entitled to have the benefit of such income.
IN WITNESS WHEREOF, this Trust Agreement has been signed by the
Settlor and the Trustee on this Z/I~ day of TilL Y , 1994.
W / S S: ....-;--
;;'1"'.-<',(, f:;dr'~d?
SETTLOR
1~vJ' ,/I '/~/
HOWARD C. TOWLE, JR.
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TRUSTEE
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COMMONWEALTII OF PENNSYLVANIA )
COUNTY OF ~lJJ.AP~ ~ ss:
On this, the d~1n day of J'~ ' 1994, before me, a
Notary Public, the undersigned officer, perso ally appeared HOWARD C.
TOWLE, JR. known to me (or satisfactorily proven) to be the person whose
name is subscribed to the within instrument and acknowledged that he
executed the same for the purpose therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
~.,
J10JiDitL t'YI. ' 4 J
Notary Public
(SEAL)
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My Commission Expires:
NOTARIAL SEAL
MELISSA M, BUGLI.\. NOTARY PUBLIC
HARRISDURG, DAUPHIN CO, PA.
MY COMMiSSION DPIRES JAN, 2, 1995
ahb.lo1roti.ut
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COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~(m_plun
:55
On this, the ~ day of JtL~ ' 1994, before me, a
Notary Public, the undersigned officer, personally appeared DOROTHY
TOWLE HAMILTON, known to me (or satisfactorily proven) to be the person
whose name is subscribed to the within instrument and acknowledged that he
executed the same for the purpose therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
lfYLPM6t In, ~1~
Notary Public
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(SEAL)
My Commission ires:
NOTARIAL SEAL
MElISSIo M. BUWA. NOTARY PUBUC
HARRISBURG, OAUfHIN co PA.
MY COMMISSIGN EXPIRES JAN,"2,I995
l'\W0C'.1OVr'lJ!.Dts
c:2/- q 5- J" 30
DISCLAIMER
WHEREAS, Howard C. Towle, Jr., of Cumberland County, Pennsylvania, died
testate on October 20, 1995 (''Testator''); and
WHEREAS, Testator's Last Will and Testament dated August 1, 1995 was
admitted into probate by the Register of Wills of Cumberland County, Pennsylvania, on
November 3, 1995 and filed at Estate File No. 21-95-830 (the "Will"); and
WHEREAS, under paragraph IV of the Will, Testator gave aU of his probate
estate unto the Trustee of a Trust established by a certain Trust Agreement dated July
26, 1994, naming Dorothy Towle Hamilton as Trustee (the ''Trust''), a copy of which is
attached hereto and made a part hereof as Exhibit "A"; and
WHEREAS, under paragraph 5.02 of the Trust, Testator's wife, Dorothy L, Towle
is entitled to an interest in the income and principal of Trust A as provided for under
paragraph 5,03 of the Trust (the ''Trust "A" Interest"); and
WHEREAS, Dorothy L. Towle desires to disclaim and renounce completely any
and all right, title and interest she may have or will have in the Trust "A" Interest; and
NOW, THEREFORE, Dorothy L. Towle does hereby irrevocably and without
qualification aDd in accordance with the provisions of Section 2518 of the Internal
Revenue Code ("IRC") of 1986 and Section 6201 of the Pennsylvania Probate, Estates
and Fiduciaries Code, 20 Pa, Cons. Slat. Ann. Section 6201 !U, sea., does completely
disclaim and renounce and refuse to accept any and all right, title and interest conferred
or attempted to be conferred to her in the Trust "A" Interest. This disclaimer is not
intended to affect any other rights Dorothy L. Towle has or may have in the Trust,
including but not limited to, her rights to the income and principal in Trusts B, C and/or
D as set forth in Article V of the Trust Agreement.
IN WITNESS WHEREOF, Dorothy L. Towle has set her hand and seal this .:; /v
day of Fe br-utl r::J ' 1996.
Doro~~'r. tJe -t ~
HETRICK ZALESKI & PIERCE
.. PRO"r5SI0~At. CORPonATIQN
NO"""AN P. HtTllICM
CHARLU E. ZAU:.MI
Jou~ K. PltRU.
RONALD M. LUCAS
LINUS E. FtNtCU::
GREGOR... H. KNIGHT
AlV1N H. Bun
JOHN R. KACHU"
AHTHONY J. Nunco
LAu'u A. uFoe
AnONNlvb AT LAW
10 60u"0 M"''''r' SOUAIt" 5uIH ~oo
IU"It'..U'Hl. Pl"''''.'L'''Uo'A 11101,'00 I
OF' COUNSEL
Aaaut O. CKAMUJU,.....H, JflI.
PO.' OrrlCf. UOI 1205
tt,uu""'UJlQ. PrhJ.i.n'olAJ,j'A 17108-120'
r.C'"'UU:
17171232'0017
TtLt~HO...t:
17111 236-956 I
December 18, 1995
Commonwealth of Pennsylvania
Department of Revenue
Dept. 280601
Harrisburg, PA 17128-0601
Re: Estate of Howard C. Towle, Jr.
Gentlemen:
This firm represents the Estate of Howard C. Towle, Jr.
The decedent died October 20, 1995.
In our initial meetings with the estate Executrix and
the decedent's surviving spouse, Dorothy L. Towle, we were
informed by the Executrix that two safe deposit boxes, one at
Mellon Bank and the other at Dauphin Deposit, were jointly
owned by the decedent and the surviving spouse. It has come
to our attention by way of bank closing letters that the safe
deposit boxes were actually jointly owned by the decedent,
his surviving spouse, and their daughter, Dorothy ~ow1e
Hamilton. This was not disclosed to us until subsequent to
the opening and inventory of the boxes by Mrs. Towle and her
daughter, Mrs. Hamilton. We have advised the Department of
Revenue in a telephone conversation with Tom Shambaugh of the
fact that the boxes were opened without notification of a
Revenue agent, under the assumption that the boxes were owned
by husband and wife only. Mr. Shambaugh recommended that we
file an Affidavit with the Inheritance Tax Return itemizing
the contents of the safe deposit boxes as of the date of the
opening of the boxes.
Enclosed please find an Affidavit certifying to the
contents of the two safe deposit boxes which has been by
executed by Dorothy L. Towle and Dorothy Towle Hamilton who
were both present at the opening of the boxes.
Thank you for your consideration in this matter.
~y~4
Linus E. Fenic1e
LEF/moc
AFFIDAVIT
DOROTHY TOWLE HAMILTON, being duly sworn according to
law deposes and says that she is the daughter of Howard C.
Towle, Jr, deceased, and a co-owner of the safe deposit
boxes at Mellon Bank, N.A., and Dauphin Deposit Bank and
Trust Company, and that the contents of the safe deposit
boxes at the time of the inventory of said boxes by myself
and Dorothy L. Towle as set forth on the attached
handwritten lists are true and correct as to the contents of
the said boxes.
~Lfd.T~
Sworn to and subscribed
before me this
of ~tJn'\!,LJ
Ifrtn day
, 199.:l-.
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(Seal)
Notarial Seel
Mergeret 0, Chepman, Notery Public
lierrleburg, Oauphln County
M Commltllon Sop'r.. Oct, 2S, 1999
DAUPHIN DEPOSIT BANK & TRUST COMPANY
SAFE DEPOSIT BOX - WEST SHORE PLAZA #1503
1. Receipt for box rent - $11.25
2. USF & G - auto insurance policy
3. Keystone Insurance - travel insurance policy
4. Great Global Insurance - blood bank
5. Car title - 1993 Sable
6. Westminster Cemetery Deed, Philadelphia, PA
7. Dauphin Deposit Certificate of Deposit No. 30000061826
004338
MELLON BANK, N.A.
SAFE DEPOSIT BOX - PENNSBORO BRANCH #400
1. Homeowner's Insurance Policy
2, Dorothy L. Towle Will
3. Howard C. Towle Jr. Will
4. Insurance Policies
5. Life Insurance policies
6. Safe deposit box receipted bills
7. Keystone Travel Insurance
8. Howard C. Towle Jr. Trust Agreement
9. Dorothy L. Towle Trust Agreement
10, Social security, marriage license, baptismal
certificate
11, Deed for 227 North 25th Street, Camp Hill, PA
12. Stock, bonds, and certificates of deposit
13. Gold Coin
Ell"'"
EllP.I\ESS
.
FINANCIAL
ADVISORS
Amencan Express Financial Advisors Inc.
Wos~>OOd Centor
4661 Trond" Road
Camp H.. penn.ylvan.. 17011
'\dVDnced Planner aroup
Senior Financial Advilor
John A, Benkavlch Jr,
Cenil>ed Fnanc;&al Planner
Bus (717) 761.4208
Fa. (7\7) 761.6282
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December 7, 1995
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Mr, Linus E, Fenicle, Esq,
Hetrick Zales!:i & Pierce
P,O. Box 1265
Harrisburg, P A 171 08
Re: Estate of Howard C. Towle, ]r,
Dear Mr. Fenicle:
Listed below is the information your requested concerning IDS High Yield Tax-Exempt
account #0115-2922478 1002,
1. Account number: 0115-2922478 I 002
Account name: High Yield Tax-Exempt Fund
2, Shares owned as of 10/20/95: 37,131.084
price per share: $4,587
3, Accrued dividends: $83,066,61 (includes cash dividend paid 10/26/95)
4, Account opcned: 6/11/84 (Howard C, Towle Jr, and Dorothy L, Towle JT)
Ownershio Chanl!c: Howard C, Towle ]r, and Dorothy L. Towle to
Howard C, Towle, ]r, - JUIIC 1995
5, Current Ownershio: Howard C, Towle, ]r,
I have enclosed an estate settlement form, Plcase completc and return with a ccrtified
death certificate,
Please call ifI can be of further assistance.
Sincerely,
crL~~7
SEP-23-96 MON \6:30 REAGER ~ ADLER PC
'SGP-:!O-96 16:52
FA~ NO, 7\7730736~
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P.OL-
Goldline ~
I H T [ R HAT I a HAL. INC.
'.-.-
A. ".M... c..,.,.,:,
Mr. Linu~ Senitle
Fax to 717 730 7366
,
Frida)', September 20, 1996 i
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This letter is to appraise the United States 520.00 gold col ' that you
have. The date, 1928 is one of the most common dates, haying a
mintage of2,946,750 pieces. :
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The current value ofthis coin is S440.00.
Sincerely,
))~~
Wayne A. Pratall
Director ofNumismatlc~
Friday, September 20,1996
,oa W1I,hJ,. ao.Io"'" TIIlrd n- lion.. Monico, Colllomle ~'1I&:1
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1olOo1Z7-4a6:l
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~ Bell Atlantic
81'11.111,,",1, l'lelwnrk 5.,,,I.c., Inc.
1l10ll Columh.. r.k,. CH
Siller Sl'ri"~. M'I/I,nd 211')11~.~H;
Otnenl!t Office
October 27, 1995
Dorothy L. Towle
227 N. 25th St.
Camp Hill, PA 17011
Dear Mrs. Towle:
I wish to extend my sincere condolences on your recent loss. Your
entitlements are as follows:
(1) $27,900.00 Death Benefit
(2) $ 239.20 Final Medicare Reimbursement Payment
(3) $ 587,60 Monthly Annuitant Pension
Records indicate that a pension check was issued for the month of
october. Please remit a check for the overpayment in the amount of
$630.35 made payable to Mellon Bank in the enclosed envelope.
Please complete and return the attached forms to the Benefits
Office along with a certified copy of the Death certificate, in the
enclnsed envelope, and I will begin processing the above benefits.
Your medical coverage will continue at the Company's expense
through April 30, 1996. You will be notified by your medical insurance
carrier prior to this date and be given the opportunity to continue your
coverage by remitting directly to them.
Your dental coverage will end on October 31, 1995.
Telephone concession will continue through January 20, 1996.
Following that date, you will be responsible for the monthly payments.
Prudential Life Insurance company has been contacted and they will
forward life insurance claim forms directly to the beneficiary (s) .
Prudential can be reached on 1-800-524-0542.
Please don I t hesitate to contact me if I can be of further
assistance. I can be reached on 1-800-427-2875, ext. 303.
Sincerely, ~., 0
t?aJ.'^- 71j , .5 c.l1'j4
Attachments
aw
MassMutuale
Special Statement
(Form 712 No/ Applicable)
Na.u.a...,1U N..-J LIJe IN"''''''' ~
tIN ~oJd """""'" .-,-Ju
SpMa},1J NA 01/ /J'()()()/
1ns/ructions:
PI..... use this form for EslaIc Tu Purpo&es ""verina Annuities and 1nsla11menl ^=unls. This form is to be filed by lbe
Esecutor wilb Fedel1l EslaIc Tu Return Form 706.
NAME 0' DlClDlHT DATI 0' Durn
HOWARD C. TOWLE, JR. 10-20-95
'''" POUC'Y' HU"'UU.I 11. DEClAIm'S PAYU ACCT. NO.
13176%oC 151114-00
,. IlSUm Off nu un a'l
HOWARD C. TOWLE, JR.
~. WAS nUI\t: Of\IQlHALLY A CLAIM "'Oft TO THE DUTH 0' Tl4t: MOVE OECIDlHTr
o No III Yes By rcasoo of: 0 Sum:nder III Matured EndoWUlCllI or Annuity OOealh of Insured or Annuitant
., TYrI Of POUCY Oft IHITAUMtHTI
MATUIlED RETIREMENT tNCOME 0 65 PROVIDING MONTIILV LIFETIME INCOME OF $26.37,120 PAYMENTS
GUARANTEED, BEGINNING 3-1-71.
So WHAT TYPl Of RlGHTI DID OlemDn HAvt TOWlTHDMW, COMMUTE 0" IUMlHD[ft P'OUevl
III Non. 0 Olber (esplain):
o Full Righi
'0 DEATH IlHlRCJMVIUl AND 'ULATlONIliHI' TO DECtDlHT
DOROTIIY L. TOWLE, WIFE
7. HOW'MU. THE DEATH IlHlftT IE PAYMU'
lilI 00. Sum 0 Inslallmenl (as follows):
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10 MiAT n'l D. ftlOHTI Dorl nil IDUACJAftY HAVE TO Wl'rnDMW ""OC[[OI OR TO COMMUTE IHSTH.lMlHTII'
o Nooe 0 Olber (esplain):
o Full Righi
eo VALUl 0' POUCY M Of DATE 0' DEATH
IA-INDlCATf Tl4l BASIS O' VAl,UAnON 0' IHITAl.J.NlHT luu:ms
$104.99
crw.-...............--....
~......."'......,..".,I
10. ,tDOtnONA&. "WANtSI
'lb. I1IIdersigued officer of the above J1IJIlCd Insunncc Company hereby certlfi.. thai Ibis ...lemenl aetsrorth corrccllJld
lnlc information with respoclto lbe ""olrlclindiealed herein.
nn< SENIOR CUENT SEIlVICE
.....- . R.EPRE.SEHT ATIVE
This Company, byfumlshlnll/h~ nbol't! Infomuulon, upresses no opinion as 10 whnhn or nol all or any pan oflh~
proct!w of /h~ aboW! policies ar~ IncluJlbk In /h~ IIross eslaU of dUM"./.
.GHATlI\l ~
~
7/
DATI
2-19-96 LVS
'1.0911911
- -'. --
Ii ~ C 8.1 \ t.,:: f) Con",d M. S;'f". F,S A
t:F:.l? ... ~ IfVTy M.leisler, Jr., F S A
' ") 1.996 Un"" S S""n, F,SA,
HE~R CII'd, E. Ginf/i'h, F,S A,
I IGI( tALES/(: G '"'/:" E.ull, Mumm,n, M"AA
' . neCRoben I, Dol.n. A.,SA,
D:nid F. Slir'in,. A.S A.
Roben I, Mr.uik, F.SA,
D..id H, KWick. F.S A.
Jc((rc}' S. M)en, F.S.A,
Thom.u L. Zimmenn:ut. F.S A
G/,nn A, I/.r". F,S,A,
Piyill S. Goon'lil/,ke, F,S A.
F""'k S, Rhodes, F,SA" A.C,A !
Chvlu 8. Fricdl.1tldc:r. A.S.A.
Hol/y A. Ross. F,S,A,
Enrolled Acru~tl fERISA)
K'\'in A. Em, A.,S,A.
Ht~lhA(,luar)'
500 :'>oliOll\\,<I, Drh',
P. 0, nfl' 5~00
H"lTi.bllrg, P.I Ii 1J0'5~00
(71 i) 652';/;33
Fa., (ili)5~O'~106
February 7, 1996
Alvin H, Blitz, Jr., Esq.
Hetrick, Zaleski & Pierce, P.C.
10 South Market Square
Suite 500
HarriSburg, PA 17101-2001
He: Dorothy L. Towle
Dear A1:
Y.. ",."." .h.. '" "'~oU" th, P""n' vol" .C 'h, 'n,,".~ .nnolt, Co< D.roth, L.
Towl,. Y" 'nC.""", m. 'h" Ho.", T..", J,., pO..., ..., on o.tob~ 29, 1995. H.
h., h..n """"n, · P'"i" "yObI. in 'b, C."" .C. j.in. .., BO. ..,,"vo, "nnit,
from .h. n,,, All...., "'n.l" Pl.",..,,, AIt..., M.....m... PI... UpOn bI, ,,,th, hi,
hen"'.."" D""h, T..." heg.. ""'ring. m"th., P",i" .C '587.60 P"'bI. C~ 'h,
remainder of her lifetime. Mrs. Towle's date of birth is June 30,1908.
Th, P",,,. ..1" .C 'hl, ""I.~ ""it, to Mm. T'wl, I, "ro"", '34,613. F~
"'''n., ...i..,.." P"P"" in """"Inin, h~ P"'", ..1", ., h." .'", tho GA.
196, MO<I.lity T.hl, .., .. i..~". "I, ,C6.06%, whi'h i, th, 30.,,~ ~,...", "Ie In
'ff". C" D"'mh~ 1995. Th, 30.,,,, .,,,,,'" ,,', 'n 'ff". C~ J....'" 1996 i, no, 'ol
available.
P'"'''' to '''m,.". i 'm .1" "."'n,.. In..I.. Cn"" woo," llU, "". If,,,
have any questions on this matter, please feel free to contact me,
With best regards,
JSM:cnh
Ene/.
Yours Sincerely,
J:/jx;~~F.5:A
Consulting Actuary
. ~. ..> .... .
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_IOtDHflf
D AA 082504 COMMONWEALTH OF PENNSYLVANIA
NO. DEPARTMENT OF REVENUE
OFFICIAL RECEIPT. PENNSYLVANIA INHERITANCE AND ESTATE TAX
~'!.l~~
~'FII~
""'lit 1 II 1..941
RECEIVED FROM:
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ACN
ASSESSMENr r:'I
CONrROl ~
NUMBER
AMOUNT
FENICLE LINUS E Esa
10 S MARKET sa
SUITE ~oo POBOX 126~
HARRISBURG, PA 17108-126~
101
.28,378.00
ESTATE INfORMATION,
~ filE NUMBER
~ 21-199:5-0830
!!'I NAME Of DECEDENT (lAST)
~ TOWLE HOWARD C JR
II DATE Of PAYMENT
m POSTMARK DA E
COUNTY
SSN 172-01-9486
IfIRST) IMII
CUMBERLAND
DATE Of DEATH
REMARKS
m TOTAL AMOUNr PAID
.28,378.00
VZ
DOROTHY L TOWLE
C/O OF LINUS E FENICLE
CHECK" 101
SEAL
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RECEIVED BY. I /, "
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SIG;"''''fU~f
REGISTER OF WILLS
MARY C. LEWIS
REGISTER OF WILLS
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PISCLAIMER
WHEREAS, Howard C. Towle, Jr., of Cumberland County, Pennsylvania, died
testate on October 20, 1995 (''Testator''); and
WHEREAS, Testator's Last WiI1 and Testament dated August 1, 1995 was
admitted into probate by the Register of Wills of Cumberland County, Pennsylvania, on
November 3, 1995 and filed at Estate file No. 21-95-830 (the "Will"); and
WHEREAS, under paragraph IV of the Will, Testator gave all of his probate
estate unto the Trustee of a Trust established by a certain Trust Agreement dated July
26, 1994, naming Dorothy Towle Hamilton as Trustee (the ''Trust''), a copy of which is
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attached hereto and made a part hereof as Exhibit "A"; and
WHEREAS, under paragraph 5.02 of the Trust, Testator's wife, Dorothy L, Towle
is entitled to an interest In the income and principal of Trust A as provided for under
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paragraph 5,03 of the Trust (the "Trust "A" Interest"); and
WHEREAS, Dorothy L. Towle desires to disclaim and renounce completely any
and all right, title and interest she may have or will have in the Trust "A" Interest; and
NOW, THEREFORE, Dorothy L. Towle does hereby irrevocably and without
qualification and in accordance with the provisions of Section 2518 of the Internal
Revenue Code ("IRC") of 1986 and Section 6201 of the Pennsylvania Probate, Estates
and fiduciaries Code, 20 Pa. Cons, Stat. Ann. Section 6201 ~ seq., does completely
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TRUST AGREEMENT
THIS TRUST AGREEMENT is entered into by HOWARD C, TOWLE, JR.,
a resident of Cumberland County, Pennsylvania, hereinafter referred to as Settlor,
and DOROTHY TOWLE HA.\HL TON, a resident of Kent field, California, hereinafter
referred to as Trustee,
ARTICLE I. TRUST ESTATE
1.01. Trnnsrer to Trust. The Settlor herewith delivers to the Trustee the sum
of ONE ($1.00) DOLLAR and those assets, if any, described in the attached
schedule A. Such monies and all properry hereafter subject to this Trust shall
constitute the Trust Estate, and shall be held, managed, administered, ana distributed
by the Trustee as hereinafter provided.
1.02, Status or Trustee. The Settlor has caused or shall cause the Trustee to
he named primary beneficiary of any life insurance polides (the "Policies") to be
included in the Trust Estate, and constitutes Trustee custodian of the Policies during
the life of the Settlor and Trustee of both the right to receive the Policy proceeds
and the proceeds themselves when received.
1.03. Additional PronertY, Any individual may add to this Trust, whether
before or after the death of the Settlor, by naming the Trustee beneficiary of
additional life insurance policies or by transferring to the Trustee other properry
acceptable to the Trustee, either by gift, assignment, bequest, or devise, and, if so
added, such right to receive additional policy proceeds, and such proceeds when
received, and such other property, on receipt and acceptance by the Trustee shall
become part of the Trust Estate.
ARTICLE II. REVOCATION OF TRUST
2.01. Revocation Durin!! L1retlme, During the life of the Settlor, this Trust
may be amended, altered, revoked, or terminated, in whole or in part, or any provi-
sion hereof, by an instrument in writing signed by the Settlor and delivered to the
Trustee; provided, however, that the Trust may not be amended to change the obliga-
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Exhibit "A"
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tions, duties, or rights of the Trustce without the written consent of the Trustec to
such amendment.
2,02. Settlor's Dutlcs on Revocation, If the entire Trust is revoked by the
Settlor, the Trustee shall payor transfer to the Settlor all of the Trust Estate and
shall execute and deliver to the Settlor all instruments which are necessary or
appropriate to release all interests of the Trustee in the Trust Estate.
AR'nCLE III. PREMIUMS
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3,01. Pavrnent. Notwithstanding any general grant of power to pay premiums,
in no event shall the Trustee bave a duty to pay, or be liable for the nonpayment of,
any premium or assessment on any policy held by it hereunder, whether or not this
Trust shall have become irrevocable and whether or not the Trustee shall have
become the owner of the policy.
3.02. Information, The Trustee shall not have any duty to keep itself
informed, or to inform others, with respect to the payment of any premium or
assessment.
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ARTICLE rv. DISTRIBUTION DURING LIFETIME OF SETfLOR
4.01. Net Income to Settlor, At least annually during the life of the Settlor,
the Trustee shall pay all the net income from the Trust Estate, unless otheIWise
directed by the Settlor in writing, first toward any premium or assessment on any
policy held by it hereundcr, and, out of any residue, thereafter, pay the Settlor or
apply said residue for the benefit of the Settlor,
4,02. Incompetencv, Ifthe Settlor becomes incapacitated through illness, age,
or other cause, then such portion of the net income or principal of the Trust Estate
shall be applied towards the support, care, and benefit of the Settlor, Settlor's Wife
and Settlor's children as the Trustee, in his discretion, shall determine without regard
to the Settlor's other means of support.
ARTICLE V. DISTRIBUTION AFTER THE DEATH OF THE SE1TI.OR
5.01, Prior Death of Settlor's \VUe, If Dorothy L. Towle the wife of Settlor,
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does not survive the Settlor, the entire Trust Estate shall be held, administered, and
distributed in accordance with the terms and provisions applicable to Trust Band,
when funded, Trust D, as provided in this Article V, and in accordance with the
provisions for division into separate Trusts set forth in Paragraph 5.02 of this Trust
Agreement, but excluding Trust A and Trust C and not necessarily limited by the
unified credit against Federal Estate Ta't allowable to Settlor's Estate.
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5,02. Division Into Four Separate Trusts, On the death of the Settlor, if the
Wife of the Settlor is then living, the Trust Estate shall be divided into as many as
four separate Trusts, hereinafter referred to as Trust A, Trust B, Trust C, and Trust
D. Trustee shall first fund Trust A, then Trust B, then Trust C, and finally, Trust D,
in that order. Trust A shall consist of the assets owned by the Settlor's Wife together
with the value of any additional assets which, by reason of the death of the Settlor,
will be added to the estate of Settlor's Wife which will not exceed, when added to all
of the other assets of Settlor's Wife, a sum equal to the dollar amount, if any, which
can pass (at the time of designation of this Trust A by Trustee or the date of death
of Settlor's Wife, whichever shall first occur) free of Federal Estate Tax in the estate
of Settlor's Wife by reason of the unified credit against Federal Estate Tax allowable
to Settlor's Wife's estate. Trust B shall consist of assets selected by the Tmstee
which can pass free of Federal Estate Ta"( in the estate of Settlor by reason of rhe
unified credit against Federal Estate Tax allowable to Settlor's estate. Trust B is also
intended to be considered by Settlor's Executor and Trustee as the first Trust to
which any Generation Skipping Ta"( ("GST") exemption of Settlor should be elected.
Trust C shall consist of all the remaining assets of the Trust unless Trustee and the
Executor(s) of the Estate(s) of Settlor or Settlor's Wife shall elect to establish Trust
D for purposes of allocation of the available GST exemption(s) of Settlor and his
said spouse to one Trust which has solely exempt property under the GST, that Trust
to be Trust C; and all other remaining property not eligible for the said GST
exemption(s) shall be allocated to Trust D, Trusts C and D are intended to qualify
as Qualified Terminable Interest Property Trust(s) (under Section 2056 of the
Internal Revenue Code of 1986, as amended, or any corresponding provision of state
law) upon the election of the Executor of Settlor's Estate as to the whole or any
portion thereof for qualification for the Federal Estate Tax Marital Deduction and
any marital deduction available under the law of the state in which the Settlor is
domiciled at the time of his death; and, to the extent necessary also to maximize the
amount of the GST exemption available to Settlor and his spouse. Settlor hereby
suggests, but does not direct, that in exercising such discretion, his Executor shall
attempt to minimize (or eliminate, if possible) the Federal and State Estate,
Inheritance or death taxes payable by Settlor's estate at the time of his death,
However, Settlor's Executor should also consider the effect of such election(s) upon
the Federal and State Estate, Inheritance or other death taxes which may be payable
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by Settlor's Wife's estate at her death, particularly if she dies before any election by
Settlor's Executor must be made as it affects Settlor and, when applicable, his Wife's
estate(s). The decision of Settlor's Executor with respect to the exercise of any I
election(s) shan be final and conclusive upon an persons whose interests in Settlor's
estate are directly or indirectly affected by the election(s). The assets of Trust A.
Trust C and Trust D may be subject to further allocation between Trust B and Trust
A or Trust C or Trust D in the event Settlor's Wife shan disclaim any of the rights
or assets to which she might otherwise be entitled by this Paragraph 5.02, in which
event such assets shan become a part of Trust B or Trust D, in that order, as elected
by Settlor's Executor.
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5,03. Distributions From Trust A. Trust A shan be held, administered, and
distributed as follows:
(1) Income Payments, The Trustee shan Jlay to or apply for the benefit of
the Wife of Settlor, Dorothy L. Towle from the date of the Settlor's death, during her
lifetime, all of the net income of Trust A in monthly or in other convenient
installments, but in no event less often than annually.
(2) Princloal Payments, If at any time in the discretion of the Trustee, the
Wife of the Settlor, Dorothy L. Towle, should be in need of additional funds for her
proper health, maintenance and support, the Trustee, in addition to the income
payments hereinabove provided, shall in her discretion pay to or apply for the benefit
of the Wife of the Settlor such amount from the principal of Trust A. up to the
whole thereof, as the Trustee from time to time deems advisable,
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(3) WIthdrawal or Princloal. The Wife of the Settlor shall have the right,
from time to timc, to direct the Trustee in writing to pay to her or to apply for her
benefit such amounts from or portions of the principal of Trust A, up to the whole
thereof, as she may designate, The Trustee shan comply with any such written
directions and shan have no responsibility whatsoever to inquire into or determine
for what purpose any such withdrawals arc made,
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(4) Distribution on Death or Settlor's Soouse. On the death of the Wife of
the Settlor, the Trustee shall distribute the balance of the Trust Estate of Trust A,
including an principal and any accrued or undistributed income, to such person or
persons, including his cstatc, the creditors of his estate, or the crcditors of the Wife
of the Settlor, as she shan appoint. This power of appointment is exercisable by the
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the Trust Estate and othcr asscts of Scttlor's Wife are more than sufficient to meet
her reasonably foresceable nccds during her lifetime.
(3) Dh'lslon Into Sharcs on Death of Scttlor's Sllouse. On the death of the
. survivor of the Settlor or his Wife, the Trustee shall make distribution of the
remaining trust assets as follows:
(a) The specific sum of Five Thousand (S5,OOO,OO) Dollars to The Pine Street
Presbyterian Church, 310 North Third Street, Harrisburg, Pennsylvania.
(b) Fifty percent (50%) of thc remaining trust assets to Settlor's daughter,
Dorothy Towle Hamllton. In the event Settlor's said daughter shall not be
then living, this gift shall lapse and the whole of the Trust shall be distributed
in accordance with (3)(c) below.
(c) Fifty pcrcent (50%) of the remaining trust assets to be divided and
distributed in equal shares among Settlor's son-in-law, Robert L. Hamilton,
and each of Settlor's then-living grandchildren,
(d) If, upon the death of Settlor and his said Wife, Settlor's son-in-law or any
of Settlor's grandchildren shall have died, or shall die at any time before or
during the continuance of any Trusts created herein, leaving issue then surviv-
ing, the principal and accumulated income, if any, of thc Trust share for said
son-in-law or child shall be paid over to his or her said issue per stiroes.
provided, however, that if any of said issue be under the age of 21 ycars,
Trustee shall apply the income and principal of their respective shares, in
Trustec's sole discrction, for the health, support, maintenance or education
of such issue, without the intervention of a guardian, Upon attaining the age
of 21 years, Trustee shall distribute the balance of the share of any such
beneficiary to the beneficiary,
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(e) If Settlor's son-in-law or any of Settlor's grandchildren shall die at any
time during the continuance of this said Trust, Icaving no issue then surviving,
the principal and accumulated incomc, if any, of this said Trust for Settlor's
said beneficiary shall be maintained by Trustee, in Trust, for the benefit of
Settlor's surviving grandchild or grandchildren, or then living issue, per stirpes.
subject, nevertheless, to the provisions hereinabove.
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(.\) Soendthrirt Provision. No principal or income payable or to become
payable under this Trust shall be subject to anticipation or assignment by any
beneficiary thereof or to attachment by or to the interference or control of any
creditor of any such beneficiary, or be taken or reached by any legal or equitable
process in satisfaction of any debt or liability of such beneficiary prior to its actual
receipt by the beneficiary.
(5) Termination, If at any time the Trustee, in its discretion, deems the best
interests of an Income Beneficiary to be best served by distribution to him or her of
the entire principal of the share or subshare then held for him or her, due to the
small size thereof or for any other reason, the Trustee may convey, transfer, and pay
over the same to such beneficiary, absolutely and free of trust.
(6) Definitions, As used in this Trust Agreement, the following terms arc
defined as follows:
(a) All references to the "Trust" or the 'Trust Estate", unless otherwise
specifically provided for herein, refer to each of the separate Trusts herein
provided for, respectively, and the Trust Estate of each Trust.
(b) The term "education" includes both post high school, trade school
education, college and postgraduate study at any educational institution of the
beneficiary's choice for any period of time that, in the judgment of the
Trustee, is advantageous to the beneficiary concerned; the Trustee shall
provide adequate amounts for all related living and travel expenses of the
beneficiary within reasonable limits,
(7) Other Resources, The Trustec, in exercising its discretionary authority
with respect to the payment of income or principal of the Trust Estate to any
beneficiary, shall take into consideration any income or other resources available to
such beneficiary from sources outside of this Trust that may be known to the Trustee.
The Trustee may accept as final and conclusive the written statement of the
beneficiary receiving payment as to other available income or resources. The
determination of the Trustee with respect to the advisability of making payments out
of principal to any beneficiary shall be conclusive on all persons howsoever interested
in the Trust,
(8) Incaoacltv of Beneficiaries, In the event that any beneficiary or legatee
of any Trust Estate, by reason of illness, age, incapacity or other cause, shall, in
Trustee's opinion, be unable properly to receive and disburse the income or principal
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to which he may be entitled, then Trustee, in its sole discretion, shall pay and apply
the incomc and principal duc such bcneficiary or legatec to his comfortable
maintenance and support, without the intcrvention of any guardian or committee and
....ithout being required to apply to any Court for leave to make such payments, The
powers exercised under this provision shall rest solely in the discretion of Trustee,
(9) Support of Benenclaries, The aforesaid payments for the health, support,
maintenance, and education of each of the aforcsaid beneficiaries may, in the
discretion of the Trustee, include contributions for the health, support, maintenance,
and education of the guardian of the person of such beneficiary and also of the
guardian's spouse and children,
(10) Pa\1ncnt of Undlstributcd Income, On the termination of any interest
in this Trust, all undistributed income in the hands of the Trustee shall be paid to the
person or persons next entitled to incomc by the terms of this Trust Agreement.
5.05. Trust C and Trust D Administration and Distribution. Any assets uscd
to fund Trust C (and Trust D, when funded), as created by paragraph 5.02 of this
Trust Agreement, shall be held, administered and distributed as follows:
(1) Income PaYments. During the lifetime of the Wifc of the Settlor, Trustee
shall pay to Settlor's Wife the net income of Trust C (or Trust D) in convenient in-
stallments at Icast quarter-annually.
(2) Principal Pa\1nents, Trustce may distribute to the \Vife of the Settlor
such amounts from the principal of Trust C (or Trust D) as the Trustce in its
discrction, shall deem necessary or advisable to provide for the hcalth, maintenance,
and support of the Wife of Selllor, and so as to support Scttlor's Wife in her
accustomed manner of living.
(3) PaYment of Taxes Relatlnl! to Trust C (or Trust 0), Upon the death of
SClllor's Wifc, Trustec shall pay to the Executor of Settlor's Wife's estate, out of the
principal of Trust C (or Trust D). an amount equal to thc Estate, Inheritance,
Transfer, succession or other death taxcs (death taxes) Fedcral, State and othcr,
payable by reason of the inclusion of thc value of the Trust C (or Trust D) property
in hcr estate, Such paymcnts shall be equal to the amount by which (a) thc total of
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such death ta~es paid by the Wife's estate exceed (b) the total death taxes which
would have been payable if the value oC the Trust property had not been included
in her estate. The determination oC the WiCe's Executor(s) of the amount payable
hereunder shall be final; the Trustee shall pay such amount promptly upon written
request of the Wife's Executor(s), The Settlor's Wife may waive her estate's right
to payment under this subparagraph by a Will in which she specifically refers to the
right to payment hereby given to her estate,
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(4) Distribution Upon Death of Settlor's Spouse, On the event of the death
of Settlor's Wife, the Trustee shall make division and distribution of the remaining
funds in Trust C (or Trust D) in accordance with the terms and provisions of
paragraph 5.04(3) of the said Trust Agreement. .
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(5) PaYment of Undistributed Income, On the termination of the interest of
the Wife of Settlor, aU undistributed income shaU be paid to the Estate of Settlor's
Wife.
(6) Miscellaneous Provisions, All of the provisions of paragraph 5.04(4)
through and including (10), to the extent they may be applicable to the
administration of Trust C (or Trust D), shall be available to the Trustee and
applicable to the administration of Trust C (or Trust D),
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ARTICLE VI. POWERS OF TRUSTEE
6,01. Dcseriptlon of Powers, In ordcr to carry out
the purposes of this Trust Agreement, the Trustee, in addition to all other powers
granted by law, shaU have the following powers and discretion:
(1) Retain Asscts. To continue to hold any and aU property received by the
Trustee or subsequently added to the Trust Estate or acquired pursuant to proper
authority, including shares of Trustee's own stock and stock in any corporation
controlling, controUed by, or under common control with the Trustee, if and as long
as the Trustee, in exercising reasonable prudence, discretion, and intelligence,
considers that the retention is in the best interests of the Trust; provided, however,
that nonincome-producing or unproductive property shall not be retained as an asset
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of the Trust for more than a reasonable time during the lifetime of the Wife of the
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(2) Investments, To invest and reinvest in every kind of property, real,
personal, or mixed, and every kind of investment, specifically including, but not by
way of limitation, corporatc obligations of every kind, and stocks, preferred or
common, which men of prudence, discretion, and intelligence acquire for their own
accounts.
(3) Manaeement of Securities, To exercise, respecting securities held in the
Trust Estate, 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; to participate
in voting trusts, pooling agreements, foreclosures, 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; to exercise or sell stock subscription or conversion rights; to
accept and rctain 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.
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(4) Form of Ownership of Trust PropertY. To hold securities or other Trust
property in the name of the Trustee as Trustee under this Trust Agreement or in the
Trustee's own name or in the name of a nominee or in such conditions where
ownership will pass by delivery,
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(5) Business Interests, To continue and operate, to sell or to liquidate, as
the Trustee deems advisable at the risk of the Trust Estate, any business or
partnership interests received by thc Trust Estate; provided, however, that a
non income-producing or unproductive business or partnership interest shall not be
held as an asset of the Trust for more than a reasonable time during the lifetime of
the Wife of the Settlor without the written consent of the Wife of the Settlor,
(6) Sell and Exchanee, To sell for cash or upon such terms and conditions
(as to credit or otherwise) as the Trustee may deem appropriate, at public or private
sale, to exchange, and to convcy any property of the Trust Estate.
(7) Division of Trust Estate. On any division of the Trust Estate into
separate shares or Trusts, to apportion and allocate the assets of the Trust Estate in
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cash or in kind, or partly in cash and partly in kind, or in undivided interests in the
manner deemed advisable in the discretion of the Trustee; after any division of the
Trust Estate, the Trustee may make joint investments with funds from some or all
of the several shares of Trusts, but the Trustee shall keep separate accounts for each
share or Trust.
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(8) Abandonment of Trust Assets. To abandon any Trust asset or interest
therein in the discretion of the Trustee.
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(9) Option. To grant an option involving disposition of a Trust asset and to
take an option for the acquisition of any asset by the Trust Estate.
(10) Lease, To lease any real or personal property of the Trust Estate for
any purpose for terms \\;thin or extending beyond the duration of the Trust.
(11) Propertv Manal!ement. To manage, control, improve, and repair real
and personal property belonging to the Trust Estate.
(12) Development of PropertY, To partition, divide, subdivide, assign,
develop, and improve any Trust property; to engage in representations before public
real estate authorities; to adjust boundaries or to adjust differences in valuation on
exchange or partition by giving or receiving consideration; and to dedicate land or
easements to public use \vith or without consideration.
(13) Repair. Alter. Demolish. and Erect, To make ordinary and extraordinary
repairs and alterations in buildings or other Trust property, to demolish any improve-
ments, to raze party walls or buildings, and to erect new party walls or buildings as
the Trustee deems advisable.
(14) Borrowinl! and Encumberin!!, To borrow money for any Trust purpose
from any person, firm, or corporation, including one acting as Trustee hereunder, on
the terms and conditions deemed appropriate by tbe Trustee and to obligate the
Trust Estate for repayment; to encumber the Trust Estate or any of its property by
mortgage, deed of Trust, pledge, or otherwise, using whatever procedures to
consummate the transaction deemed advisable by tbe Trustee; to replace, renew, and
extend any encumbrance and to pay loans or otber obligations of the Trust Estate
deemed advisable by the Trustec.
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(15) Natural Resources, To enter into oil, gas. liquid or gaseous
hydrocarbon, sulphur, metal and any and all other natural resource leascs on terms
deemed advisable by the Trustee, and to enter into any pooling, utilization,
repressurizations, community, and other types of agreements relating to the
exploration, development, operation, and conservation of properties containing
minerals or other natural resources; to drill, mine, and otherv.;se operate for the
development of oil, gas, and othcr minerals; to contract for the installation and
opcration of absorption and repressuring plants; and to install and maintain pipelines,
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(16) Insurance. To procure and carry at thc expense of the Trust Estate
insurance of the kinds, forms, and amounts deemed advisable by the Trustee to
protect the Trust Estate and the Trustee against any hazard.
(17) Enforcement of Hvootheclltlons, To enforce any mortgage or other real
or personal property security interest held by the Trust Estate and to purchase at any
sale thereunder any property subjcct to any such hypothecation,
(18) Extendlnl! Time of Pavmcnt of Oblll!atlons, To extend the time of .
payment of any note or other obligation held in the Trust Estate, including accrued
or future interests. in thc discretion of the Trustee.
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(19) AdJustment of Claim, To compromise, submit to arbitration, release
with or Without consideration, or otherwise adjust claims in favor of or against the
Trust Estate,
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(20) L1tll!atlon, To commencc or defcnd at the cxpense of the Trust Estate
any litigation affecting the Trust or any property of the cstate deemed advisable by
the Trustee.
(21) Admlnlstratlon Expenscs. To pay all taxcs, assessments, compensation
of the Trustce, and all other expenses incurred in the collcction, care, administratioD.
and protection of the Trust Estate.
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(22) Emplovrnent of Attornevs. Advisers. and Other Al!ents. To employ any
attorney, investment adviser, accountant, broker, tax specialist, or any other agent
deemed necessary in the discretion of the Trustee; and to pay from the Trust Estate
reasonable compensation for all services performed by any of them.
In particular Trustee shall have the power to employ agents to advise the
Trustee in the administration of the Trust Estate. Rather than performing any duty
personally, the Trustee may delegate to the agent the performance of the Trustee's
duties, whether discretionary or not. The Trustee shall not, however, have the power
to delegate to another the entire administration of the Trust Estate.
If the Trustee exercises its power to employ agents to assist in the
administration of the Trust Estate or to perform specific duties for the Trustee, the
Trustee may rely upon the agent's advice or performance without any independent
investigation or analysis by the Trustee and shall not be liable for any error or
omission of the agent provided:
A. The Trustee acts prudently in selecting the agent;
B. The Trustee executes a written contract with the agent which provides
that:
(1) The agent agrees that the agent is assisting the Trustee in
fulfilling duties owed by the Trustee to the beneficiaries of the
Trust Estate;
(2) The agent agrees that it is subject to the jurisdiction of the
probate court to which the Trustee is subject;
(3) The agent agrees to provide either evidence of insurance
covering the agent's errors or omissions or other evidence which
the Trustee deems sufficient that the agent is able to provide
financial compensation to the Trust Estate and its beneficiaries
in the event of the agent's error or omission.
C. The agent performs on the contract.
D. The Trustee takes reasonable steps to permit the beneficiaries of the
Trust Estate to seek redress from the agent.
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(23) Loans, To make loans, secured or unsecured, in such amounts, upon
such terms, at such rates of interest, and to such persons, firms, or corporations as
Trustee shall think fit,
(24) Distribution, On any partial or final distribution of the trust Estate, to
apportion and allocate the assets of the Trust Estate in cash or in kind, 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.
(25) Nonlncome-Producinl! or Unproductive Asset. If the Wife of the Settlor
or any other beneficiary or guardian of any beneficiary of any Trust created in this
Agreement shall, by written instrument delivered to the Trustee, direct the Trustee
to convert any nonincome-producing or unproductive asset held in the Trust Estate
to income-producing property, the Trustee shall, within a reasonable time after its
receipt, comply with the direction,
(26) Emplovee Benefit Plans. Trustee shall use its discretion to elect the
most propitious settlement option with regard to any qualified employee benefit plans
available to Settlor at the time of his death so long as such election shall be in
accordance with the Plan's Administrative Committee or Administrator, as the case
may be.
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(27) General, To do all the acts, to take aU the proceedings, and to exercise
all the rights, powers and privileges which an absolute owner of the property would
have, subject always to the discharge of his fiduciary obligations; the enumeration of
certain powers in the Trust Agreement shall not limit the general or implied powers
of the Trustee; the Trustee shall have all additional powers that may now or
hereafter be conferred on him by law or that may be necessary to enable the Trustee
to administer the Trust in accordance with the provisions of this Trust Agreement,
subject to any limitations specified in this Trust Agreement.
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6,02. Settlement of Settlor's Estate. Subject to the provisions of paragraph
6,03 Trustee shall have the power, but not the duty, upon Settlor's death, to make
such expenditures out of the principal of the Trust as Trustee may think desirable in
order to facilitate the settlement of Settlor's estate. In exercising such power,
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Trustee may pay, in part or in whole, any or all of the following items: the expenses
of Settlor's last illness and burial, her debts, income taxes owed by her, any or all
death taxes and interest and penalties thercon, and the expenses of administering
Settlor's estate, Any such items may be paid directly by Trustee or else the funds for
the payment thereof may be transferred by Trustee to Settlor's personal
representativcs; and neither such personal reprcsentativcs nor any beneficiary of
Settlor's estate shall be required to reimburse Trustee for any fund so paid or
transferred. This power may bc exercised even if some or all of thc beneficiaries of
Settlor's estate have no interest under this Agreement, It is particularly requested
that the powers herein granted be exercised liberally in favor of the prompt and
convenicnt settlement of Settlor's estate and particularly to relieve any situation that
may arise as a result of there being insufficient cash in the hands of Settlor's
executors or administrators with which to accomplish such settlement.
6.03. Special Dlrcctlons. Notwithstanding anything to the contrary contained
in this Trust Agreement. Settlor directs that all proceeds received by the Trustees
hereunder from "qualified" plans exempt from federal estate tax under the applicable
provisions of the U. S. Internal Revenue Code shall become a part of the corpus of
this Trust Agreement and any of the Sub-Trusts created hereunder, free and clear
of all debts, taxes or other obligations of Settlor's estate and without diversion to, or
for the benefit of Settlor's estate administration. In order to accomplish this
purpose, Trustee is authorized to maintain such separate or special bank accounts,
or otherwise identify and segregate such funds as it may deem to be necessary or
appropriate to insure compliance with the direction contained in this paragraph.
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6,04 Rcstrlctlons or the Exercise or Ccrtnln Powcrs, If a beneficiary is serving
as trustee of a trust, any power to make discretionary distributions to or for the
bencfit of that beneficiary (including distributions to the beneficiary's spouse and
distributions in discharge of any legal obligation of the beneficiary) shnll bc
exercisable solely by the trustee or trustees other than the beneficiary. II no other
trustee is then surviving, such power shall not be exercisable. The preceding
sentences shall not apply to a power to make distributions to the beneficiary pursuant
to a standard limiting such distributions to the beneficiary's needs for health, support
and maintenance,
6,05 Speclnl Power or Scttlor's Spouse. After the death of Settlor, Settlor's
surviving spouse shnll have the right during her lifetime and without court approvnl
to substitute for (remove) the then-acting Trustee of the Trusts created hereunder
with any corporate Trustee located anywhere within the United States by giving sixty
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(60) days' written notice to the said then-acting Trustee, and upon written acceptance
to the administration of the Trust by the newly appointed corporate Trustee, The
said then-acting Trustee, upon receiving said notice and written acceptance of the
Trust from the successor Trustce, shan then transfer all assets of the said Trust to the
said successor Trustee.
6.06. Limitation on powers, All powers given to the Trustee by this Trust
Agreement arc exercisable by the Trustee only in a fiduciary capacity and in
accordance with the prudent man rule.
6.07. Release or Lire Insurance Companies. Settlor releases the life insurance
companies from any responsibility to see to the execution of the Trusts created
hereunder or to the application of the proceeds of the policies,
ARTICLE VII. DUTIES AND COMPENSATION OF THE TRUSTEE
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7.01. Allocation or Income and Principal. The Trustee shall determine what
is income and what is principal of each Trust created under this Trust Agreement,
and what expenses, costs, taxes, and charges of any kind whatsoever shall be charged
against income and what shan be charged against principal in accordance with the
applicable statutes of the Commonwealth of Pennsylvania as they now exist and may,
from time to time, be enacted, amended, or repealed.
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7,02. Relations with Trustee, No one dealing with the Trustee need inquire
concerning the validity of anything it purports to do, or need see to the application
of any money paid or any property transferred to or on the order of the Trustee.
7.03. Compensation, The original Trustee hereunder and an successor
Trustees shan be entitled to reasonable compensation and, when appropriate, based
on its regular schedule of fees for such services in effect at the time of the service
rendered.
7.04, Bond. No bond shan be required of the original Trustee hereunder or
of any successor Trustees; or if a bond is required by law or court, no surety shan be
required on such bond,
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7,05, Reshmatlon of Trustee and Successor Trustees. Trustee may rcsign and
discharge herself from any Trust created hereunder at any time, and on such resig-
nation the Settlor may appoint a successor Trustee. If the Settlor shall then be
deceased, Robert L. Hamilton, shall serve as successor Trustee. If Robert L.
Hamilton, is unable or unwilling to serve as Trustee, then all the competent adult
beneficiaries of the Trust Estate, as it may then have been divided, shall have the
right to appoint a successor corporate Trustee, and any such appointment shall be
binding and conclusive on all persons interested herein. Provided, however, that a
non-spouse Trustee shall be authorized to act as sole Trustee at his or her election.
If the competent adult beneficiaries shall fail to appoint a successor, then a court of
competent jurisdiction shall appoint the successor.
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7,06, Accounts. The Trustee shall each year render an account of his
administration of each Trust hereunder to each beneficiary of this Trust to whom
income of such Trust may be distributed (or such beneficiary's guardian). Such
person's (or the guardian's) transactions stated therein or shown thereby, shall be
final and binding on all persons (whether in being or not) who are then or may
thereafter become interested in, or entitled to share in, either the income or the
principal of such Trust, provided always, however, that nothing contained in this
paragraph 7.06 shall be deemed to give such person (or the guardian) acting in
conjunction with the Trustee the power to alter, amend, revoke or terminate such
Trust.
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ARTICLE VlII. CONSTRUCTION OF THE TRUST
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8.01. Governlne Law. This Trust Agreement shall be governed by the laws
of the Commonwealth of Pennsylvania.
8.02, Severabllltv. If any part, clause, provision, or condition of this Trust
Agreement is held to be void, invalid, or inoperative, such voidness, invalidity, or
inoperativeness shall not affect any other clause, provision, or condition hereof; but
the remainder of this Trust Agreement shall be effective although such clause,
provision, or condition had not been contained herein.
8,03. Internretlve Clause. As used in this Trust Agreement, the masculine,
feminine, or neuter gender, and the singular or plural number shall each be deemed
to include the others whenever the context so indicates.
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8,04, Presumption of Order of DClIth. If the Settlor and his Wife shall die
under such circumstances that it is doubtful or difficult to prove which of them died
first, then, for purposes of this Agreement it shall be conclusively presumed that the
Settlor's Wife shall have survived the Settlor. In any case where an Income
Beneficiary and remainderman die under such circumstances, then, for purposes of
this Agreement, it shall be conclusively presumed that the Income Beneficiary shall
have survived the remainderman.
8.05. Notice of Events. Until the Trustee shall have received written notice
of any birth, death, or other event on which the right to receive payment from the
Trust Estate may depend, it shall incur no liability for disbursements or distributions
theretofore made in good faith.
8.06. Perpetuities. Notwithstanding anything herein contained to the
contrary, no Trust created hereby shall continue for more than 21 years after thc
death of the last survivor of the Settlor, his Wife, his children, and such descendants
of the Settlor as are in being at the date of the death of the Settlor, and if at the
expiration of such period any property is still held in Trust hereunder such property
shall immediately be distributed to and among the persons then receiving or entitled
to have the benefit of the income therefrom in the same proportions in which they
are receiving or entitled to have the benefit of such income.
IN WITNESS WHEREOF, this Trust Agreement has been signed by the
Settlor and the Trustee on this 2('~ day of T,;,~ " , 1994.
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WITNESS: ~ ...._-
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SE1TLOR
1~vJ' r1 / .~......d,/
HOWARD C. TOWLE, JR.
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TR USTEE
DR~10\~~
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COMMONWEALTII OF PENNSYLVANIA
COUNTY OF ~lLL~~
)
) ss:
)
On this, the :~~1\ day of J~ ' 1994, before me, a
Notary Public, the undersigned officer, perso ally appeared HOWARD C.
TOWLE, JR. known to me (or satisfactorily proven) to be the person whose
name is subscribed to the within instrument and acknowledged that he
executed the same for the purpose therein contained.
IN WI1NESS WHEREOF, I hereunto set my hand and official seal.
.JlliJwh 7Y1. Aut) ~ J
Notary Public (
(SEAL)
My Commission E'qlires:
NorARIAl SE.\l
t.lElISS.lIoI, BUGlIA, NOrARY PUBliC
HARRISBURG, OAUP~III co, 'A.
MY CGMI.IISSlm. OPlRE! III' 2, 1~95
'- - -~-
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BURRnU OF INDIVIDUAL TAXES
DEPARTMENT 280601
DARRISBURG, PA 17128-0601
July 29, 1996
ALVIN II BLITZ ESQ
ECKERT SEAMANS CUERIN ArlO HELLOTT
PO BOX 12~8
llARRISBURG PA 17108
Dear Mr. Blitz I
ReI Estate of Jlownrd C. Towle, Jr.
File No.1 2195-0830
Thia is in response to your requeat for an extension to file
the Inheritance Tax Return for the above-refarenced estate.
In accordance with Section 9136(d) of the Inheritance and
Eatate Tax Act of 1995, the time for fillnB the return is extended for
an additional period of eix (6) montha. This extenaion will avoid the
imposition of a penalty for failure to make a timely return. Jlowever,
it doe a not prevent interest from accruinB on any tax remaininB unpaid
after the delinquent dnte.
The return must be filed with the ReBister of Wills on or
before January 10, 1997. Because Section 9136(d) of the 1995 Act
allows for only ono oxtra period of aix (6) months, no additional
axtension(s) will be Brantod that would exceed the maximum time
permitted.
SinCere' )14$~/
~ C. Hurphy, Chief
Inheritance Tax Division
S-ITIINII83
71amml723
.; -. ...._- -~, ,-'..
Register of Wills of
CUMBERlAND
County, Pennsylvania
INVENTORY
Estal.ol lIoward C. Towle , Jr.
No. 1995.00830
also known as
Oal.ofO.alh 10/20/1995
,ooceaaod SoClal5ocUrltyNo. 172.01-9486
Doroth L. Towle
p....nal R.p,...nlaUvo(a) of Ih. above Estal., doceaaod, verily that Ih. hems app.artng In Ih.lollowlng Inv.nlory Includ. all of Ih.
p.""'nal....ts whorev., a1tual. and all of tho ,.aI .otal. In Ih. convnonw.allh of p.nnsylvanla of aald ooced.nl, Ihat Ih. valuaUon
placed opposlt. .aeh Item of aald Invanlory ,.p,...nts Ilolal' valu. as ollh. dale ollh. oocedent'e d.alh, and Ihal Oecedenl owned
no ,.aI ostal. outsld. 01 Ih. COmmonweallh 01 Pannsylvanla excopt Ihat which app.ara In a memo,andum al tho .nd of this
Inv.nlory.1 /W. v.rIty Ihallh. stat.ments msd.ln Ihlolnv.nlory sr. trU. snd 00"00. I/W. underalsnd Ihsllal.. stsl.monts hBloln
sr. msd. subjOO to Ih. p.nalU" of 18 Pa. C.S. SoctIon 4904 ,.lsUng 10 unsworn IalolllcsUon to SUlhortU...
Nsrno 01
Anorney: Linus E. Fenic1e
p.,sonal Rep,..entsuve
~J,., ~
Slgnaturo: ^ I ~
Dorothy L. ow1e
1.0. No.: 20944
Slgnalu,.:
Add,...: 227 N. 25th Street
Addr...: P.O. Box 797
Camp lIi11 , PA 17011
Telephon.: 717/737-4467
Deted: I'")' /0' 'f,?;
lIarrisbur~, PA 17108-0797
Tel.phone: 717/763-1383
Valu.
OoscrlpUon
\
I
\
\
I
!
\
!
,
(See continuation page(s) attached)
\-II 'n'
,t, .
).I,:.....
11: '1o)'~lUn~
',.'.:HlI~
tit: BV
9\ :JIO 96.
(Anoeh addluonal sl1ootoll nac...ary)
SIII^', . :'r;,filll:j
)0 O';!" pOOJO:Jlll:l
Tolal:
803,273 .19
NOTE: The Mamo,andum 01 ,aol..lata outoldo tho commonwoallh ot ponnsylvanlo may, al tho olactlon ollhO po'sonol rop,oaontatlvo,
Includo 1110 valuo at oach Itom, bul Buch flgufos uhould nol be ox1ondod Inlo lho 10101 01 tho Invontory.
Pllpa,.d bt1h' rennltlv."I. 0.' Anoellll0"
eap.."hI Icl "" 'arm ..lIw'" 00" ePS,,'.m.. ,"c. 'ar., IRW-7 I"'"
1,368 shores AT&T Corporation'
traded on the NYSE, common
84,132.00
1,368 shares AT&T corporation
544 shares Bell Atlantic - tradad
on the NYSE, common
451.44
34,748.00
544 shares Bell Atlantic
380.80
1,224 shares Be11South Corporation -
traded on the NYSE, common
92,029.50
1,224 shares Be11South Corporation
440.64
3,000 sharas Heinz H.J. Co . traded
on the NYSE, common
141,375.00
1,100 shares Hershey Foods Corp -
traded on the NYSE, common
70,950.00
37,131 shares IDS High Yield
Tax-Exempt Fund - Account
No. 0115.2922478-1.002.
170,431. 68
37,131 shares IDS High Yield
Tax-Exempt Fund . Account
No. 0115_2922478-1-002.
859.13
544 shares NYNEX Corporation -
traded on the NYSE, common
26,146.00
544 shares NYNEX Corporation
320,96
544 shares Pacific Telesis Group
traded on the NYSE, common
16,184.00
544 shares Pacific Telesis Group
296.48
2,249 shares Salomon Brothers Fund
Inc _ traded on the NYSE,
COJl\1llon
30,220.94
816 shares SBC Communications Inc
. traded on the NYSE, common
45,288.00
816 shares SBC Communicetions Inc
-2.
336.60
-..... -'.........".-,-.
-
.
.544 share a U,S.West Inc - traded
on tho NYSE, common
25,568.00
544 aha rea U.S.West Inc
291.04
.--.........-..-
800,902.21
...................
TOTAL RECEIPTS OF PRINCIPAL,.."...,."..,
803,273,19
-3.
I r (. -.;' -"/
_l .-- ~. I
-,
L__
.
ESQ
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOTICE OF DETERMINATION AND
ASSESSMENT OF PENNSYLVANIA
ESTATE TAX BASED ON FEDERAL
ESTATE TAX RETURN
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
11'-\11(1&" III-I"
BUREAU OF INDIVIDUAL TAXES
IfliEAlTAHC[ TAX DIVISION
D(PT. 11D6D1
IURA IS_LIRe, PA U'UI'D601
LINUS E FENICLE
REAllER a ADLER
2331 MARKET ST
CAMP HILL
09-29-97
TOWLE
10-20-95
21 95-0830
CUMBERLAND
201
Allount R..itted
HOWARD
C
PA 17011
MAKE CMECK PAYABLE AND REHIT PAYMENT TOI
REGISTER OF WILLS
CUHBERLAND CD COURT HOUSE
CARLISLE, PA 17013
HOTEl To Insure proper credit to your account, lubMit the upper portion of thll for. with your t.. Ply.ent.
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR FILES ~
R-EiV:4i3i-EX--AFP--(03~-97j-----.-..Niificif-OF--DETifRHiiiATio-N-Aiiu-AiisESS-HENT-----------------------------
OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN ..
ESTATE OF TOWLE
HOWARD
C FILE NO.21 95-0830
ACN 201
DATE 09-29-97
ESTATE TAX DETERMINATION
1. Credit For State Death Taxes as Varified
I z. Pennsylvania Inheritance Tax Assessed 23,785.21
(Excluding Discount and/or Interest)
J 3. Inheritance Tax Assessed by Other States .00
or Territorias of the United States
(Excluding Discount and/or Interest)
4, Total Inheritance Tax Assessed
5. Pennsylvania Estate Tax Due
.00
TAX CREDITS I
PAYMENT
DATE
RECEIPT
NUMBER
DISCOUNT (+)
INTEREST/PEN PAID (-)
AMOUNT PAID
TOTAL TAX CREDIT .00
BALANCE OF TAX DUE .00
INTEREST AND PEN. .00
TOTAL DUE .00
oIF PAID AFTER THIS DATE, SEE REVERSE SIDE IIF TOTAL DUE IS LESS THAN 'I, NO PAYNENT IS REQUIRED
FDR CALCULATIDN OF ADDITIONAL INTEREST. IF TOTAL DUE IS REFLECTED AS A "CREDIT" ICR), YOU NAY IE
DUE A REFUND. SEE REVERSE SIDE OF THIS FORN FOR INSTRUCTIONS.)
if I
;,)
........ OF
NOTICE t
r~
1;1
PAvttEHTI
To fulfill the nqulr.-nt. of Sactlon ,lltS (bJ 0' thei Inherlt.-M:a -.d Eltat. Ta. Act, Act Z1 0' 1"5.
(72 P... Seotlon 9145).
. . i-~,~
o.tlCh Uti top port}ofl"of thll HotlCl Ilnd M.1t with your p.y...,t to tttI RIlIht.r 0' "U" prlntld on the
rlv.r.. .Ida.
-.. H.ka cheick or .onIY order p.yabll tal REGISTER OF MILLS, ADENT.
REFUND CCAh A r.'und of a ilx credit "V ba raquaat.d bv cOllPI.Ung W1 "AppllC8t1on fa,. R.,WMi a' penn'ylvanl.
Inh.rltlnCl and E.t.tl T.... (REV-ISIS). application. ara av.llabll It the Offlc. a' the Ralll.t.r of Mill.,
any 0' the ZS Ravenue DI.trlct D'flca. or froe tha D.partaint'. '4-hour an.we,.lng .arvlcl ~r. fa,. far.. o,.~rlngl
In penn.vlvanla 1.100"S6'.'050, out. Ida Pann.ylvanla Ilnd within local Harrl.burg ara. (717) 717-1094,
TOOl (717) 77''',,5Z CH..rlng lap.lrad Only).
OIJECTIONSI Anv partv In Intara.t not ..tl.fl.d with t~ ........nt of t.. a. .hown on thl. notlc. a.y abJact within
.I.ty (60) dey. of r.c.lpt 0' thl."Hotlca bYI
--wrlttan prDt..t to the PA D.p.,.t.ant of Revsnu., Bo.rd of Appaal., Dept. ZIID'I, H.rrl.bu,." PA 171'1-1021, OR
....Iactlna to hlv. the .att.,. d.t.,..ln.d at audit of the p.r.anal rapr..antatlv., OR
"-IlflPe.1 tD the Orphan.' Cou,.t.
i
ADHIH"
ISTRATIVE
CORRECTIONSI Factual .rror. dl.cov.r.d on thl. .......ant .hould b. addr....d In writing tOI PA DIp.rtaant of R.venue,
lur.su of Indlvldu'l T...., ATTHI Po.t A.......nt R.vla.. unit, Dept. Z10601, H.rrl.bura, PA 171tl-0601,
Phone (717) 717-6505. S.a p.a. 5 of tha bookl.t "In.tructlon. far Inhlrltenc. Ta. R.turn far. R..ldent
Decadent" CREV-1501) far an ..planatlon of .dalnl.tratlv.ly carrlctabl. .rror..
PEHALTYI
Tha 15X t.. ,~.tv non-p.rtlclp.tlon penalty I. ca~ut.d an the total of thl t.. and Int.r..t .......d, Bnd not
p.ld bI'ora Janu.ry II, 1996, th. flr.t d.v .ftlr thl .nd of the t.. ~.ty parlod. Thl. non-p.rtlclpltlon
penalty I. epp..llbll In the .... aann.r and In the the .... tl.. parlod .. you would appl.l thl t.. and Int.r..t
that h.. baan .......d .. Indlcat.d on thl. notlc..
IHTERESTI
Fa" dlt.. of d.ath on 0,. .ft.,. 10-S-91, P.nnlvlvanla E.tst. T.. ba..d on tha Fadlral E.tata Ta.
raturn blco'" delinquent at thl I.plratlon 0' nlna (0') aonth. fro. tha d.ta of death.
Fa" dat.. of d..th p,.lor to 10-S-91, Pann.ylvanl. E.tat. Ta. ba..d on tha F.d.r.1 E.t.ta T.. rlturn
b.eDl" dllJnquent It the ..pl,.ltlan of Ilght..n Cll) ~th. fraa the dlt. of d..th.
T.... which bae... d.llnqu.nt b.far. Janu.rv 1, 1912 ba.,. Int.r..t .t the rlt. of .1. (6X) ,.rcsnt pa,. ~
calcul.tld .t , d.lly ,.ata of .00DI64. All tIX" which b.c... dllinquent on or .,t.r Jenu.ry 1, l'IZ will bI.r
Intar..t It . r.t. which will v.rv fraa c.llndlr ve.r to c.l.nd.r y..r with that r.t. announc.d by the PA
o.p.rtaant of R.v~. ThI appllclbl. Int.r..t rat.. fa,. 19at through 1997 .ral
V..r Int.r..t A.t. DailY Int.r..t Fscto,. V..r Int.,...t R.t. O.11v Int.r..t Factor
191t ZlX .000S48 19117 'X .ooot47
1915 16X .OOOUI 19111.1991 lIX .OODSOl
191" llX .00OS01 199Z 'X .OOOZ47
19115 lSX .00OS56 1'93-1994 7X .0001'2
1'16 lOX .00ot'" 1995-1997 'X .ooot47
"'Intarllt la c.lcul.ted .. follower
INTEREST . BALANCE OF TAX UNPAID X NUH8ER OF DAYS DELINQUENT X DAILY INTEREST FACTOR
"-Any Hotlcl 1..UId aftar the ta. b.co... d.llnquent will r.fl.ct an Int.r..t calculation to fift"" (15) dey.
beyond the data of the ........nt. I' payaent I. lade aft.r the Int.r..t cQlPUtatlon data shown on thl
Notice, IIddlt10nal intarllt IN.t be c.lcul.ted.
PIlRl'Ost llf
NOnCE.
PAYMENT I
In
L-
'I
To fulfill th.r.qulr~'"t. 0' Slctlon 2.45 Ib) 0' thl Inherlt~. ~ E,..t, T.. Act, Act 21 0' .995.
C71 P.I. Section '14S). \wi
~t.ch the top portion of thl. Notlc. and lubalt with your p.yaent to the Rlg..t.r of Will, prlntld on the
r.v.r.. .Id..
u H.... check or ltOMy ord.r p.yabla tal REGISTER OF MILLS, AGENT.
REFUND ICR'I A r.fund of . t.. cr.dlt ..y ba r.qua.tad by co~l.tlnD an "Applleetlon 'or R.fund of Plnnlylv.nla
Jnherlbnc:. Met E.t.t_ hll" (REY"Ut:n. Application. ar. avallMit_ It the Office of thl; RIII).h,. 0' WUh,
any of the IS Rlvenua DI.trlct O'flc.. Dr fro. thl Dap.rtatnt', Z4""hour an'Mlrlnll ..rvlcl nuab.r. 'Dr far.. orderlngl
In PennsylvanIa l..aOO""56'.2050, out. Ida penn.ylvant. and within local Harrl.burg .1'.. 17171 "'-1094,
TDDI 17111 172.2t52 IH..rlng lap.lrld Only).
OBJECTIONS.
AottIN"
lSTRATlVE
CORRECTIONS I
PENALTVI
INTEREST.
Any p.rty In Intar..t not ..tl.fl.d with the ........nt 0' t.x .. .hawn on thl. notlc. a.y obJ.ct within
.Ixty (60) day. of r.c.lpt 0' thl. Natlc. by.
--wrltt." prot..t to tha Pol D.part..nt of R.v.nue, la.rd of App...., o.pt. UIDZI, Harr"burG, PA I7UI"UU, OR
--.Ieetlng to h.v. t~ ..tt.r d.t.r.lned .t audit of t~ per.anal r.pr..."tatlv., OR
--app.al to t~ Orphan.' Coutt.
Feetu.1 .tror. dl.cav.r.d on thl. .......ent .hould b. addr....d In writing tal PA D.p.rt.ant of Rlvenue,
lur..u of Indlvldu.1 T.x.., ATTNI Po.t A......ent R.vllw unit, D.pt. 210601, Hlrrl.burg, PA 17121-0601,
Phone (111) 717-6505. S.a pia. 5 of the baokl.t -In.tructlon. for Inherltanc. Tlx Rlturn for. R..ldent
o.cldlnt- (REV-15Dl) for en .xplan.tlon of .dalnl.tt.tlv.lv catr.ctlbl. .rrar..
T~ 15X t.x .en..tv non-p.rtlclp.tlan p.n.lty I, caaput.d on the tot.. 0' thl t.x and Int.r..t .......d, and not
Plld before Janu.rv la, 1996, the flr.t d.y .,t.r the .nd of the t.x .an..tv p.rlod. Thl. non-p.rtlclp.tlon
penal tv I. app..labl. In the .... .ann.r BOd In the the .... tl.. p.rlod .. you would .pp..1 thl t.x and Int.r..t
th.t h.. b..n .......d .. Indlc.t.d on thl. notlc..
For d.ta. of d..th on or .ft.t 10-5-'1, P.nn.vlvanl. E.tlta T.x b..ed on thl F.d.ral E.t.t. Tlx
r.turn blcGl.' d.llnqulnt at thl Ixplretlon of nln. (09) .unth. 'ra. the data of d..th.
For d.t.. 0' d.ath prior to 10-5-91, P.nn.ylvanla E.t.t. Tlx bl..d on the F.d.ral E.t.t. r.x r.turn
baco... d.llnquent .t the ..plratlon of .Ight..n (III .onth. frol the d.t. of d..th.
Tax.. which b.c... d.llnquent b.far. Januaty 1, 1912 ba.r Int.r..t .t the r.t. of .Ix (6X) p.rcant p.r annul
c.lcul.t.d .t . dallv rat. 0' .000164. All t.... which b.c... d.llnquent on or .ft.r January I, 1912 will balr
Int.r..t .t . r.t. which will v.ry 'roe cal.nd.r y..r to caland.r y..r with th.t r.t. announc.d by thl PA
Dlp.rt-.nt of R.venu.. Th. appllcabl' Int.r..t r.t.. for 1912 through 1997 .r..
V..r Jntar..t R.t. O.lh lnter..t Flctor Vllr Intlr..t R.ta aalh Intlra.t F.ctor
l,er UX .0005,.. 1917 'X .000U7
an lOX .ODDUI 1911-1991 llX .000301
191' llX .DDDSOI 1992 .X .000Ul
1915 ISX .ODOSS6 1995-199' 1X .000192
I'" lOX .DDozn 1995-1997 'X .00DZ47
--lnt.r..t .. calculltad .. fallo....
INTEREST . BALANCE OF TAK UNPAID K NunBER OF DAYS DELINQUENT K DAILY INTEREST FACTOR
--Any Hatlc. I..ued .,t.r the t.. b.cu... delinquent will r.flact en Int.r..t c.lcul.tlon to fifteen (III day.
bayond thl d.t. of the .......ant. l' p.y..nt I. ..d. .,t.r the Int.r..t co~t.tlon d.t~ .hown on thl
Hotlc., ~ltlDnlI Int.r..t ault bl c.lculatld.
i
-"
j"....,
I
!-
, ,
.
PURPOSE Of
NOTlCEI
- -,
<)0
To fulfill t~ r.qult..~t. of Section '.'5 lb) of the Inherlt~. ~ [,t.t, ,.. Act, Act '1 of .995. (72 P,I.
Sactlon ,IU).
, -
PA\'MENT I
D.t~ the top portion of thl, Notlcl and .~lt with rOUt ply.en. to thl RIII,..t of Will, prlnt.d on the
rlvar.. .lde.
-.. .... ch.ck or IOMIW ord.r Plyabl, tOI REGISTER OF HILLS, ADENT.
REFlmD (CRh
A r.fund of . t.. cr.dlt "W ba r.que.tad by co~l.tl"a In wAppllcatlon for R,fund of Penn.,lvanla
IntMrltlftCl Met Eltet, Tell" (REY-IUU. APplication, .t. l"IUable at the OfficIo' tM R'I.,t.t of Willa,
ony 0' thl 23 R.v~' DI.trlct Dfflc.. or frol the O.p.rt.-ntt. Z'-hour In.werlne ,.rvlel ~.r. for 'or.. ordering,
In PInn.vlvanl. 1-8DD-J6Z-ZDSD, out, Ida Plnnlvlvanl, and within locII Hart..burg .t.. (7171 7'7-1094,
TOOl (7171 772"2252 (H..tlng t~.lr.d OnIV).
OIJECTlONSI
Any p.rtv In Int.r..t not ..tl.fl.d with the .......-nt of t.x .. .hown an thl. notlc. 'IV abJlct within
.btv (6OJ d.u of r.c.lpt of thl. Hatlce bVI
"wrlUen prot..t to the PA D.p.rt..nt of R.v.nu., lo.rd of App..I., D.pt. ZlUll, H.rrhburg, .PA uua.Ull, OR
....I.ctlne to h.v. the ..tt.r d.ter.lnld .t ItUdIt of the p.r.on.1 r.pr...nt.tlv., OR
...pp..1 to the Orph.".' Court
AD"IN"
lSTRATlVE
CDRRECTIDtCSI
F.ctu.1 .rror. dl.cov.r.d on thl. ........nt .hould b. .ddr....d In writing to' PA D.p.rt.."t of R.vtnUe,
lur.tu of Indlvldu.1 T...., ATIN, pa.t A......."t A.vl.w Unit, D.pt. 210601, H.rrllbure, PA 17121.0601,
Phon. (717) 717-6505. S.. p.gt 5 of thl booklet Rln.tructlon. for Inh.rltanc. T.. Aeturn for I A..ld."t
Dlcedent" (AEV"150lJ far In ..pllnlt1on a' adIIlnhtr.tlv'h carr.ctablt .rron.
PENALlYl
Tht ISX t.. ,tn.. tv non-plrtlclpltlon p.".ltv I. cDIPUltd on the tat.l of thl t.. and lnt.r..t .......d, and not
p.ld b.far. Jenu.rv II, 1'96, the flr.t d.v .ft.r thl end of the tax '.".ltV p.rlnd. Thl, non-p.rtlelp.tlon
p.".ltv I. .pp..l.bl. In the .... .anner and In the thl .... tl.. p.rlad .. you would .pp..1 the t.x and Int.r..t
th.t h.. b..n .......d al Indlcat.d on thl. natlc..
IHTERESTI
Addltlon.l Ptnn.ylvanla E.t.t. Ta. .......d a. a ralult of . ch.nga on tha Fad.ral E.tat. Tax ela.lng
I.U.r beCOH' d.lInquent .t the a.plratlon of one II) aanth fro. the dlta the final notie. of the lner....
In Fed.r.1 E.t.ta ,.x 1. r.c.lved.
,.... which b.c... d.llnqutnt b.far. Janu.rv I, 1912 b..r Int.r..t .t thl rat. of .lx ('~) p.rcent P4r ~
e.lcul.t.d .t . d.Uv r.t. of .001164. AU t.... which bIe... d.lInquent on or .ft.r JMK.I.rv 1, 1912 will be.r
Int.r..t .t . r.t. which will v.ry fro. callnd.r v..r to c.l.na.r v..r with that r.t. ~ed bV th. PA
D.p.rt.-nt of R.vtnUl. Th. .ppllctbl. lnt.r..t rat.. for 19.2 through 1997 .r.,
'!!!! Int.r..t Aate D.lh Int.rut Fletor !!!! Intere.t A.t. Dally Inten.t FMltar
1912 ..X .OOOSU 19.7 OX .000247
1911 lOX .ODOU. 19&1"1"1 lIX .000501
191" lIX .00OSOI 1"2 'X .000241
I9IS UX .OOOS" 1991-1'" 7X .000192
191' I'X .000274 1995-1"7 'X .000241
nlnt.n.t It ulcul.ttd .. follotll'
INTEREST . BALANCE OF TAX UNPAID X NU"BER OF DAYS DELINQUENT X DAILY INTEREST FACTOR
"-Ant Notlct I"ued .,t.r the t.. beca... d.llnquent will r.'lect In Int.r..t c.lcul.tlon to '1ft.." 115) d.v.
bttand thl date 0' thl ........"t. If PlYllnt It Ndt tft.r thl Int.r..t coeputatlon d.tt .hown on the
NoUn, tddltlonaa Int.rut ..,.t b. calcul.ttd.
"
(0\
,
,
'5(:.
~PDSE or
NOnCE.
fa fulfill the raqulra..n'. of Slctlon 2145 Ib) of thl Inhlrltance and E.t,'1 T.. Act, Act 21 of 1995. 172 P.S.
Slctlon'lltS),
PAVttEHTa
O.tlch the top portion of this Natle. and lub.lt with your ply..nt to thl R.gS,t.r of Will. printed on the
rl...ar.. ,Id..
...- HI"'a chick or .anew Drill,. Plyabla tOI REGISTER OF MILLS, ADENT.
RU"UHD (CAli
A r.fund of . tax crldlt ..y b, requ..ted by co.platlng an "Application for R.fund of Plnnlylvanl,
Inh.rltance and E,t.ta T.." CREV-1SIS). APplication, .r. IVlllabla .t thl OffiCI of thl R.gS.tar of Willi,
any of thl 23 RevenuI District Offlc.. or fro. thl Dlpart..nt', Z4-hour anlNarlng ..rvlel nuablr. 'or for.. ordlrlngl
In Penn.vlvant. l-eoO-S6Z.Z05D, out. Ida Plnn.vlvanla and within lacll Hlrrllburg .r.. el11) 781-10'4,
TDDI (111) 11l-ll5l CH..rlng lap.lr'd Onlv).
OBJECTIONS I Anv p.rtv In Intar..t not ..tl.fl.d with the ......I.nt of t.x .. Ihawn on thl. notlc. ..v Object within
.I.tv 160) dlv' of r.c.lpt of thl. Hotlc. bYI
--wrltt.n prat..t to th. PA Dlp.rt..nt of RIV'nu., Board of App..I., o.pt. lalall. Hlrrl.burg, PA 111 la-lOll, OR
--.I.ctlng to hlv, the ..tt.r dat.r.lnld at ludlt of the plr.onal r.pr..lnt.tlvl. OR
--app.,1 to the Orphan.' Court
AD"IH-
ISTRATtYE
CORRECT IONS I Factual .rrar. dl.cov.rld on thl. ..I.....nt .hould b. .ddr....d In writing tal PA D.p.rt..nt of R.v.nu.,
lur.lu of Indlvldull Ta.... AUNI Pa.t ........nt R.vl.w Unit. D.pt. l10601, Uarrhburu. P. 171u-a601,
Phona C711) 1a7-6505. S.. pig. 5 of the boakl.t "In.tructlan. far Inherltancl TI. R.turn for a R..ld.nt
O.c.d.nt" CREY-1501) for an ..planltlon of Idllnl.tratlv.ly corr.ct.bl. .rrar..
PENALTY I
'h. 15X tl. lan..ty nan-p.rtlclpatlan p.n.lty I. ca.put.d an the tat.l of the t.. and Int.r..t .......d, Ind not
p.ld b.fora Januarv la. 1'96, the flr.t d.y aft.r thl .nd of the ta. .an,.tv p.rlod. Ihl. nan-p.rtlclp.tlon
p.n.lty I. app..I.bl. In the .... 'Inn.r and In the the .... tl.. p.rlad .. YOU would app..1 the t.. and Int.r..t
th.t h.. b..n .......d .. Indlc.t.d on thl. not Ie..
INURESTI
Addltlon.1 Penn.ylvanl. E.t.te 'a. .......d .. a r..ult of . chang. an the F.d.r.1 E.t.t. T.. clo.lng
I.tt.r b.co... d.llnquent at tha ..plratlon of on. CI) .onth fro. thl date the fln,1 not Ie. of the lner....
In FId.r.1 E.t.t. T.x I_ r.c.lvld.
TI." wnlch b.c... dallnquent b.for. Janu.rv ., .,al ba.r Int.r..t It thl r.t. of .1. (6%) parc.nt plr ~
calcul.t.d .t a dallv rat. of .aool'~. .11 t.... which baca.. d.llnqu.nt an or .ftar Janu.ry ., I,al will b.ar
Intar..t It I rat. which will y.rv fro. cII.nd.r y..r to c.l.ndlr y..r with th.t rlt. announc.d by the PA
D.p.rt..nt of RIY.nu.. Th. appllcabl. Int.r..t r.t.. for l,aZ through 1"7 .r"
!!!! Inter..t R.ta D.lly Int.rnt Factor ~ Internt Rat. Dally Internt Factor
1'8Z ..~ .ao05~a 1'117 .~ .0002'"
1'85 16:( .0004111 19118-.". II> .00D!01
198" II~ .000301 199Z .~ .oaoZ",7
1915 ..~ .OOOlS6 1995-199" 7~ .000191
.'16 10:( .000Z7" 1995-1997 n .000"7
ulnt.rut I. c.lcullt.d .. follow'l
IHTEREST . BALAHCE OF TAX UHPAID X HUHBER DF DAYS DELIHQUEHT X DAILY IHTEREST FACTOR
uAnv Nollca I..UId Iftar thl ta. b.ca... dellnqu.nt will raU.ct an Int.rnt u1cul.tlan to flft.." CIS) dlY'
b.yond thl d.ta of tha .......ant. If p.y.ant i. aad. .ft.r thl Int.r..t caaput.tlon dlt. .hown on thl
Notie., addltlon.l Int.r..t .u.t b. c.lcul.t.d.
I~c.j '/
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
INHERITANCE TAX
STATEMENT OF ACCOUNT
,
, "
,*
BUREAU Of INDIVIDUAL TAXES
INIlEAITAIrtC[ lAX DIVISION
PEP'. rao601
ItARAlseUAC, PA 17Iza-06Dl
''''UIIII '" III.'"
LINUS E FENICLE
REAllER 8 ADLER
2331 MARKET ST
CAMP HILL
ESQ
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
10-20-97
TOWLE
10-20-95
21 95-0830
CUMBERLAND
101
HOWARD
C
Allount Aelli t t.d
PA 17011
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
NOTEI To In.u~. proper credit to your .ccount, sub..it the upper portion of thia for.. with your t.x pay..ent.
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~
iiE'v:il.ifi"EXuAFii-ioj-:97y------.JJji-iNHERiTANCE"i'liif"STATiiilE-/iT-ilTlic-couN'Tuji...-mmmm--------
ESTATE OF TOWLE HOWARD C FILE NO.21 95-0830 ACN 101 DATE 10-20-97
THIS STATEHENT IS PROVIDED TO ADVISE Of THE CURRENT STATUS Of THE STATED ACN IN THE NAHED ESTATE. SHOWN BELOW
IS A SUMMARY Of THE PRINCIPAL TAX DUE, APPLICATION Of ALL PAYHENTS, THE CURRENT BALANCE, AND, If APPLICABLE,
A PROJECTED INTEREST fIGURE.
DATE OF LAST ASSESSMENT OR RECORD ADJUSTMENT. 09-22-97
PRINCIPAL TAX DUE.. .,.,.. 25 , 037.06
PAYMENTS (TAX CREDITS),
PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID
DATE NUMBER INTEREST/PEN PAID (- )
01-16-96 AA082504 1,251.85 28,378.00
10-02-96 AA146809 .00 357.38
09-30-97 REFUND .00 4,950.17-
. ~ (~
TOTAL TAX CREDIT
BALANCE OF TAX DUE
INTEREST AND PEN.
TOTAL DUE
25,037.06
.00
.00
.00
. If PAID AfTER THIS DATE, SEE REVERSE
SIDE fOR CALCULATION Of ADOITIDNAL INTEREST.
I If TOTAL DUE IS LESS THAN II,
NO PAYHENT IS REQUIRED.
If TDTAL DUE IS REFLECTED AS A "CREDIT" ICRI,
YOU HAY BE DUE A REfUND. SEE REVERSE SIDE Of THIS fORH fOR INSTRUCTIDNS.
HAKE CHECK PAYABLE AND REHIT PAYHENT TOI
RElllSTER OF WILLS
CUHBERLANO CO COURT HOUSE
CARLISLE. PA 17013
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ....
iiE"V':is4"i"EX-AFP-iiiY:9'fj-NiificEuOF--fHHEiiii'ANCn'-A'X-j('ppRA"isEHENT-;-,U.i.owiiiicE-cflium-----m--u
DISALLOWANCE OF DEDUCTIONS AND ASSESSHENT OF TAX
ESTATE OF TOWLE HOWARD C FILE NO. 21 95-0830 ACN 101 DATE 09-29-97
TAM RETURN WAS, I I ACCEPTED AS fiLED I XI CHANGED SEE ATTACHED NOTICE
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ONI ORIllINAL RETURN
1. R..l Eat.t. <<Schedule AJ
2. stocks and Bond a (Schedule BJ
3. Clos.ly Held stock/Partnership Int.r..t (Sch.dule CI
4. Hortg.g../Not.. Receivable (Schedule OJ
S. C..h/Sank Deposita'Hllc. Parlonal Property (Schedule EJ
6. Jointly Owned Property (Schedule F)
7. Tranlfa..1 (Schedule OJ
8. Total A...t,
APPROVED DEDUCTIONS AND EXEHPTIONSI
33,105.52
9. Funeral bpan.../Ad.h Coatl/Hile. EMPan..' (Schedule HI elf)
10. Oabla/Hodgag. Liabiliti../Lbna (Schedule Il nO) 129.00
11. Total Deductions <<11)
12. H.t Value of Tax R.turn C12)
U. Chu'lhbla/Gov...n",ant.l Bequa,t. CSchedul. J) U:S)
14. N.t Value of est.te SUbject to Tax (4)
NOTEI If an assessment was issued previously, linss 14. 15 and/or 16. 17 and 18 will
reflect figures that include the total of ALL returns assessed to date.
ASSESSHENT OF TAXI
IS. Anount of Lina 14 at Spousal rat. CIS'
1&. Anount of Lin. 14 taxabl. .t Lin.al/Cla.. A rat. u&)
17. Anount of Lin. 14 taxabl. at Collat.ral/Cla.. Brat. 117.
1&. Principal Tax Du.
I,C;. r,;") . '7
BUREAU 0' INDIVIDUAL lAMES
INltlAIIANCl lAIC DIVISION
DEPf. llObDl
ttAAAISllHfD, PA 11111 Dbal
COHHONWEALTH OF PENNSYLVANIA
OEPARTHENT OF REVENUE
NOIlCE 0' INHERITANCE lAM
APPRAISEHENl. ALLOWANCE DR DISALLOWANCE
OF DEDUCTIONS AND ASSESSHENI 0' TAM
LINUS E FENICLE
REAGER & ADLER
2331 HARKET ST
CAHP HILL
DATE
ESTATE OF
DATE OF DEATH
FILE NUHBER
COUNTY
ACN
09 - 29 - 9 7
TOWLE
10-20-95
21 95-0830
CUHBERLANO
101
ESQ
PA 17011
f
blount ReMitt.d
111
121
151
141
151
161
171
.DO
800 .902.21
.00
.00
2.370.98
.00
64.395.42
(81
237.737.60
417.284.41
.00
x .00=
X .06=
X .15.
118)
TAX CREDITS I
PAYHENT
DATE
01-16-96
10-02-96
DISCOUNT 1'1
INTEREST/PEN PAID I-I
1. 251. 85
.00
RECEIPT
NUHSER
AA082504
AAI46809
AHOUNT PAID
28.378.00
357.38
TOTAL TAX CREDIT
BALANCE OF TAX DUE
INTEREST AND PEN.
TOTAL DUE
~r~~
'fti1~..
1"-1"'" I" UIIII
HOWARD
C
NOTE I To insure prop.r
credit to your account,
lubnit the upper portion
of this forn with your
tax paYllent.
867.668.61
~~,?~4 G?
834.434.09
.00
834.434.09
.00
25.037.06
. DO
25.037.06
29.987.23
4,950.17CR
.00
4.950.17CR
. IF PAlO AFTER DATE INDICATED, SEE REVERSE
FOR CALCULATION OF ADDITIONAL INlEREST.
I IF TOTAL DUE IS LESS THAN II. NO PAYHENT IS REQUIRED.
IF TOTAL DUE IS REFLECTED AS A "CREDIT" ICRI. YOU NAY 8E DUE
A REFUND. SEE REVERSE SIDE OF TNIS FOR" FOR INSTRUCTIONS. I
",
j.";
,
, "
y' ..,
T-'"
~'-'
RESERVATIONI [Ita'., of d.cadant. dvlng an or bafor. D'c.~.t 12. 1912 _. l' any future lnt.r..t In thl I.ta', I. tr~.f'rr.d
In po.....lon or ~JOY8."t to el... . (call.'.ral) bln.tlclatla. 0' thl d.cadent ,'tar the ..pltatlon of eny ..tat. for
11'. or for v..r., thl Co..anw..lth har,by ..pr...ly r"'r~.' thl right to ~pr.I.. and ...... trant'.r Jnh.rlt~. '..1.
at thl lawful CIa" I (col1,'ar..' rat. on any .uch future Int.r..t.
PURPOSE OF
HOTICEI To fulfill the reqult...nt. of Slctlon 2140 0' the Inh.rltancl and E.ta'. 'a. Act, Act 21 of 1'9S. C1Z P.S.
Sactlon 91,D).
PAVHENTI D,tlch thl top portion of thl, Hatle. and lubalt with vaur pIY"n' to thl Rlgl.t.r of Will, prlntld on thl r.var.. .Ida,
--Haka chIck or aanay order paYabla tal REGISTER OF MILLS, AGENT
REFUND (eR)1 A r.fund of It.. cr.dlt, which .,.. not r.qu..hd an ttll hill R.turn, ..~ b. r.qu..tld b~ co.phUng IN'I "AppllceUon
for R.fund of P.nn.~lv,"l. Inh.rltanc. end E.tlt. rl." (REY-ISIS). Appllc.tlon. .r. Iv.ll.bl. .t ttl. Of,lc.
a' ttl. A.ght.r of Nll", .n~ of the U A.v.nu. Dhtrlct Office., or b~ celllng the .p.eI.1 Z"'haur
en..,.rlng ..rvlc. nuab.r. far far.. ord.rlngl In p.nn.tlvl"l. l-100'16Z-Z050, out.ldl Plnn.~lvanl. end
within 10c.1 H.rrl.burg .r.. (717) 111"1094, TOOl (7111 172-Z252 (H..rlng rlPllrld Only).
OBJECTIONS I Any p.rty In Int.r..t not ..tl.flld .,Ith the .ppr.I....nt, .llawancl or dl..llawInC' of d'ductlan., or ........nt
of t.. (InclUding dl.count or Int.r..t) .. Ihawn an thl. Natlc. IU.t obJ.ct within .Ixty 160. d.~. of r.c.lpt of
thle Natlc. b~1
--wrltt.n prat..t to the PA D.part..nt of A.v.nul, Ba.rd of App..I., D.pt. 211021, H.rrl.burg, PA 17121-1021, OR
.-.hctlan to h.v. the ..Uer d.t.r.ln.d .t luctlt of the Iccaunt of the per.anll r.pr...ntaUv" OR
...pp..1 to the Drph.n.' Court.
AUHIN
JSTAATlVE
CORRECTIONS I
F.ctuIl .rrar. dl.cov.r.d an thl. ....I...nt .hauld b. .ddr....d In writing tal PA O,plrt..nt of R.v.nul,
Bur..u of Indlvldull r.u., AnNI Past A.......nt R.vl.w Unit, D.pt. Z10601, tterrllburg, PA \1121.0601
Phon. (711) 717-6505. S.. p.g. 5 of thl boakl.t "In.tructlan. far Inh.rlt.nCI T.. A.turn for. A..ld.nt
olc.d.nt" CREV.1501) 'or an ..pl.n.tlon of 'dllnl.tr'llv'ly corr.ctabl. .rror..
I' an~ t.. due I. paid wlthln thr.. (1) c.l.nder .onth. eft.r the d.c.d.nt', d..th, I flv. p.rc.nt 15~. d..count 0'
the t.. pald I. .llow.d.
DISCOUNH
PENAL TVI
Th. IS~ tl. .en..ty non-Plrtlctpltlon p.n.lt~ I. cOlput.d an the tot.1 0' the te. and Intar..t .......d, and not
paid b.fora J.nuary II, 1996, the 'Ir.t day .ft.r the .nd of the t.. a~..ty p.rlod. Thl. nan'p.rtlclp.tlon
p.n.lty Ie .pp..labl. In the .... lann.r and In the the .... tI.. p.rlad a. ~ou would .pp..1 the ta. and Inhr..t
th.t h.. b.an ..I....d .. Indlc.t.d on thl. notlc..
IHTEREST I
Int.r..t I_ ch.rg.d b.glnnlng with flr.t da~ of d.llnqu.nc~, or nln. (91 .onth. and on. (I) d.~ fro. the d.t. of
da.th, to the d.t. of p.vw.nt. t.... which bac..a dallnqu.nt b.far. January I, 1'12 ba.r Int.ra.t .t the r.t. a'
.1. 16~) p.rc.nt p.r annul c.lcul.t.d at I d.ll~ rlta of .00016". All t.... which blc... dallnquent on end .ft.r
Jenu.ry 1, 1912 will b..r Int.r..t at I rat. which wlll v.r~ 'roe c.l.nd.r y..r to cel.ndar y..r with that rat.
announc.d b~ the PA D.p.rt..nt af R.v.nu.. Th. .ppllc.bl. ,nt.r..t r.t.. far I'll through 1'91 ar'l
2!! Inta,..t A.t. D.lly tnt.r..t ractar :!!!! Int.r..t R.t. D.lly Inhr..t Factor
1912 2alC .0005'" 1'81 " .0002U
1985 16lC .000"51 1'88-1991 m .000101
19... 11lC .OOUOI I99Z " .0GOlU
1915 In .000156 1991.1994 1X .00019Z
1916 IO~ .DOOZ1~ 1995-1997 .~ .GOOlU
nlnter.., 18 ca1culltad .. follow. 1
INTEREST . BALANCE OF TAX UNPAID X NUnBER DF DAYS DELINQUENT X DAILY INTEREST FACTOR
nAn~ Notlc. I..ued aftar the t'liI beeaH. d.lInqu.nt will nU.ct en Int.r.1t calculation to flfte.n CIS) d.n
b.~Dnd thl date of tha .....I..nt. tf p.~..nt I. a.d. a't.r thl Int.r..t ca.putallon date .hown on thl
Hotlc., .ddlttonal Int.r..t au.t b. c.lcul.t.d.
STATUS REPORT UNDER RULE 6.12
Name of Decedent:
Date of Death:
Iloward C. Towle, Jr.
10/20/1995
Will No.
21-95-0830
Admin. No.
Pursuant to Rule 6.12 of the Supreme Court Orphans'
Court Rules, 1 report the following with respect to completion of
the administration of the above-captioned estate:
1. State whether administration of the estate is complete:
Yes X No
2. If the answer is No, state when the personal
representative reasonably believes that the administration will be
complete:
3. If the answer to No. 1 is Yes, state the following:
a. Did the personal representative file a final
account with the Court7 Yes No
b. The separate Orphans' Court No. (if any) for
the personal representative's account is.
c. Did the personal representative st~te an
account informally to the parties in interest? Yes No
d. Copies of receipts, releases, joinders and
approvals of formal or informal accounts may be filed with the
Cerk of the Orphans' Court and may be attached to this report,
~9Jbv
Srg t.ure
Date:
'1-IJ-1.,
Norman P. Hetrick
Name (Please type or print)
213 Market St., P.O. Box 1248
Harrisburg PA 17108
Address
(717 I 237-6000
Te 1. No.
Capacity:
Personal Representative
Counsel for personal
representative
. , ~
x
(HAH: rmf/AH3)