HomeMy WebLinkAbout04-11-07
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15D5bDlflllf7
REV-1500 EX (06-05)
PA Department of Revenue *'
Bureau of Individual Taxes
PO BOX.280601
Harrisburg, PA 17128-0601
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
OFFICIAL USE NL Y
County Code y,
INHERITANCE TAX RETURN
RESIDENT DECEDENT 2 1 0 6
Fie umber
o 74
Date of Birth
196387712
10162006
07021919
Decedent's Last Name
SuffIX
Decedent's First Name
LYONS
EMMA
MI
K
(If Applicable) Enter Surviving Spouse's Information Below
SpolJse's Last Name
SuffIX
Spouse's First Name
MI
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLlCA'rE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
[!J 1. Original Return D 2. Supplemental Return D 3. Remainder Return (date of
prior to 12-13-82)
0 4. Limited Estate 0 4a. Future Interest Compromise 0 5. Federal Estate Tax Return R ulred
(dale of death efter 12-12-82)
fK] 6. Decedent Died Testale 0 7. Decedent Malnlalned a UvIng TNal 8. Total Number of Safe De
(Attach Copy of Will) (AllBch Copy of TNIl)
0 9. Litigation Proceeds Received D 1 0 Spousal Po~ CredIt ~dale of death D
. b8lween 12-31 1 and -1-95)
Firm Name (If Applicable)
WEIGLE & ASSOCIATES, P,C.
First line of address
126 EAST KING STREET
Second line of address
City or Post Office
SHIPPENSBURG
State
PA
DATE FILED
ZIP Code
17257
Correspondent's e-mail address:
Under penalties of P.8fjury. I declare that I have examined this return, including accompa~ng schedules and slalements. and Ie the .. of my kn
it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preli'8rer hail any k
SIGNATURE OF P. p~R.E~T~BLE~F I RETURN ~ 7
~ \:) Gerald S. Lyons q..
Thomas L. Bright, Esquire
DATE
~ -1~ - 0
ADDRESS
126 East King Street, Shippensburg, PA 17257
Side 1
L
15D56D41147
1SD56DlflL147
...J%
. - -,
ESTATE OF
Lyons, Emma K.
PA Inheritance Tax Return
Signature of Additional Fiduciaries
FILE NVMBER
21-06-0974
P II
Under penalties of pe~ury, I declare that I have examined this return, including accompanying schedules and statements, and to the st of my
knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative ~ based on alii formation
of which preparer has any knowledge.
Signature #2
Name
Address1
Address2
City, State, Zip
Date
Chantilly , VA 20151
~~A~Vc.206r
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150560...21...8
REV-1500 EX
DecedenfsName: Emma K. Lyons
RECAPITULATION
1. Real Estate (Schedule A).......................................................................................... 1.
2. Stocks and Bonds (Schedule B)............................................................. .................. 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C).......... 3.
4. Mortgages & Notes Receivable (Schedule D).......................................................... 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E)................ 5.
6. Jointly Owned Property (Schedule F) 0 Separate Billing Requested............. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) 0 Separate Billing Requested............. 7.
8. Total Gross Assets (total Lines 1-7)....................................................................... 8.
9. Funeral Expenses & Administrative Costs (Schedule H)......................................... 9.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I)................................ 10.
11. Total Deductions (total Lines 9 & 10).................................................. .................... 11.
12. Net Value of Estate (Line 8 minus Line 11)............................................................. 12.
13. Charitable and Governmental Bequests/See 9113 Trusts for which
an election to tax has not been made (Schedule J)................................................. 13.
14. Net Value Subject to Tax (Line 12 minus Line 13)............................. .................... 14.
TAX COMPUTATION. SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, of
transfers under Sec. 9116
(a)(1.2) X ~
16. Amount of Line 14 taxable
at lineal rate X .045 2 . 4 6 2 . 6 6 5 2 9
17. Amount of Line f4taxable
atsibling rate X .12 0 0 0
18. Amount of Line 14 taxable
at collateral rate X .15 0 0 0
15.
16.
17.
18.
19. Tax Due................................................................................................ ..................... 19
,
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT;
Side 2
L
15056042148
1--
1-
1 I'
Decedenfs Social Security N mber
196387712
~24. 000 00
17.511 52
1
I 065 99
1187.
I
I
1 . 1755 . 719 61
2 . 584 . 297 12
110. 445 15
11 . 1 6 68
121 . 6 1 83
2.462.6 5 29
2.462.6 5.29
o 00
110.8994
o 00
o 00
110,8 9 94
[!]
15056042148
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If - ...)(
REV-1500 EX Page 3
Decedent's Complete Address:
DECEDENTS NAME
Emma K. Lyons
STREET ADDRESS
10 Lyons Lane
File Number 21-06-0974
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Shippensburg
I STATE
PA
\ZIP
I 17257
CITY
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. CreditslPayments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
1 0,819.94
120,000.00
5,541.00
Total Credits (A + 8 + C)
(2)
1l5,541.00
3. InterestlPenalty if applicable
D. Interest
E. Penalty
Total Interest/Penalty (D + E)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
(3)
(4)
(5)
(5A)
(58)
14,721.06
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE E LOCKS
1. Did decedent make a transfer and: Yes
a. retain the use or income of the property transferred;........ .......................................................................... 0
b. retain the right to designate who shall use the property transferred or its income;.................................... 0
c. retain a reversionary interest; or........................................ .......................................................................... 0
d. receive the promise for life of either payments, benefits or care?.............................................................. 0
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without
receiving adequate consideration?. ...................... .......................... ...... ......................................... ...................... 0
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her deathf......... 0
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation?.............. ............................................. ................ .......................... ......... ........ ~
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE liT AS PART 0
No
~
~
~
~
o
THE RETURN.
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfe~ to or for the u e of the
surviving spouse is three (3) percent [72 P.S. ~9116 (a) (1.1) (i)]. '
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers tOf:' r for the use of the urviving spou~ e is zero
(0) percent [72 P.S. ~9116 (a) (1.1) (ii)). The statute does not exemot a transfer to a surviving spou e from tax, and the tatutory requir ments
for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the nly beneficiary.
For dates of death on or after July 1, 2000: I
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death te or for the use f a
natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116 (a) (1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal benefici,ries is four and one half (4.5) perce nt,
except as noted in 72 P.S. ~9116 1.2) [72 P.S. ~9116 (a) (1)]. :
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twe~e (12) percent [72 I .S. ~9116 (a) ( .3)]. A
sibling is defined under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or I doption.
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Rev-1502 EX+ (6-98)
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SCHEDULE A
REAL ESTATE
COMMONWEAlTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
Lyons, Emma K.
FILE NI MBER
21-06 '()974
ESTATE OF
All real property owned lIOIely or as a tenant In common muat be reported at fair markat value. Fair market value Is dlIftned as lIle price at ~ property would be
exchanged between a wllIIng buyer and a wiling seller, neither being compeled 10 buy or aeI, both having reaeoneble knowledge of lIle """" .it facts.
Real property which Is jolnUy-owned wlth right of survivorship must be dlacloMd on schedule F.
1
DESCRIPTION
10-20 Lyons Lane, Shippensburg Township, Cumberland County, PA
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VALL E AT DATE
o DEATH
ITEM
NUMBER
524.000.00
TOTAL (Also enter on Line ~, Recapitulation)
624.000.00
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form P~-1500 Schedu e A (Rev. 6-98)
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Rev-1603 EX+ (6-98)
. SCHEDULE B
STOCKS & BONDS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RE1\JRN
RESIDENT DEceoEHT
ESTATE OF FILEN JMBER
Lyons, Emma K. 21-OE -0974
All property JolnUy-owned with right of survivorship must be dlecloeed on Schedule F.
ITEM CUSIP ~E VAll EATDATE
NUMBER NUMBER DESCRIPTION UNIT VAL o DEATH
1 52 shares of Beistle Company 336.76 17,$11.52
I
TOTAL (Also enter on Line 2, Recap tulation) 17j511.52
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc. Form P 1\-1500 SchedL I e B (Rev. 6-98)
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Rev-1Sllt EX+ (6-91)
*' SCHEDULE D
MORTGAGES & NOTES
RECEIVABLE
COMMONWEAlTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RE8IDENT DECEDENT
ESTATE OF , FILE NI JMBER
Lyons, Emma K. 21-06 -0974
All property jolntly-owned wIUt right of survivorship mUllt be dlKIoud on Schedule F.
ITEM VALL E AT DATE
NUMBER DESCRIPTION 01 DEATH
1 Gerald Lyons Mortgage Receivable 20,042.39
2 Julie A. Brown Mortgage Receivable I 64,023.60
3 Linda Lyons Young Receivable - balance owed on sale of vehicle prior to date c ~ 3,000.00
death (paid 01/09/2007)
TOTAL (Also enter on Line 4 , Recapitulation) 187,065.99
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PJ. -1500 SchecM o (Rev. 6-98)
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Rev-15G8 EX+ (6-98)
. SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COINONWEAl.TH OF PENNSYLVANIA
INHERITANCE TAX RE1\JRN
RESIDENT DECEDENT .
ESTATE OF FILE Nl MBER
Lyons, Emma K. 21-06 .0974
Include the proceeds of IItigelion and the dele the proceeds _re received by, the estete.
All property JoIntly-owned with the right of survlvorshlp must be disclosed on schedule F.
ITEM VALL EAT~ATE
NUMBER DESCRIPTION 0 DEAtH
1 Highmark - refund of premium 300.46
2 Presbyterian Homes - refund 3.697.24
3 Liberty All Star Equity Fund - payment for fractional share 3.58
4 Orrstown Bank Checking Account #103200522 10.530.09
5 Orrstown Bank Checking Account #103200522 - deposits credited after date of 1.153.67
death
Accrued interest on Item 5 through date of death 2.66
6 Orrstown Bank Checking Account #103698652 17.294.58
Accrued interest on Item 6 through date of death 1.89
7 Van Kampen Investments Account #50/51552182 23.904.64
8 Wachovia Securities Individual Account #5221-3773 Money Market 9.114.75
Accrued interest on Item 8 through date of death 14.98
9 Wachovia Securities Individual Account #5221-3773 Securities 1. )71.490.76
Accrued interest on Item 9 through date of death 3.062.67
10 Wachovia Securities IRA Account #5221-3771 Money Market 2.268.80
Accrued interest on Item 10 through date of death 4.03
Total of Continuation Sched Ie See a tached page
TOTAL (Also enter on Line 5 Recapitulation) 1. '55.719.61
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group. Inc. Form PA 1500 Scheduh E (Rev. 6-98)
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Rev-15G8 EX+ (6-98)
. SCHEDULE E
CASH, BANK DEPOSITS, & MISl ~.
PERSONAL PROPERTY
COMMONWEAlTH OF PENNSYLVANIA continued
INHERITANCE TAX RETURN
RESIlENT DECEDENT
FILE N UMBER ,-
ESTATE OF
Lyons, Emma K. 21-01 -0974
ITEM VAL JE AT DATE
NUMBER DESCRIPTION C F DEATH
11 Wachovia Securities IRA Account #5221-3771 Securities 55.816.16
Accrued Interest on Item 11 through date of death 13.33
12 Wachovla Securities Trust Money Market FBO Emma Lyons Ace ount #5221-491 14 2.007.21
Accrued interest on Item 12 through date of death 3.57
13 Wachovia Securities Trust Securities FBO Emma Lyons Accour t #5221-4984 554.757.46
Accrued interest on Item 13 through date of death 277.08
TOTAL (Also enter on Line 5, Recapitulatior ) .755.719.61
Copyright (c) 2002 form software only The Lackner Group, Inc. Form A-1500 Scheel Ie E (Rev. 6-98)
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REV.151OEX+(1-97) ~~
. ~. ~
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
ITEM
NUMBER
1.
D
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
FilE NUMBER
Lyons, ~ J.{.
This schedule must be completed and filed if1he answer to any of questions 1 through 4 on the reverse side of the F.EV-1500 COVER SHE! T is yes.
DESCRIPTION OF PROPERTY % OF
INClUOET1iENAMEOFTHE~~~~F~~=T~~~THE OATEOFTRANSFER ~~~EE ~~~~E~ I~~~T
AXA Equi~able Life Insurance under
Irrevocable Trus~ Agreeaen~ - copy of
Form. 712 and ~rus~ agreeaen~ a~~ached -
face amoun~ of policy - $1,000,000.00 -
no~ ~axable
TOTAl (Also enter on line 7, Recapitulation) $
(If more space is needed, insert additional sheets of the sanile size)
-I
21-06-0974
EXCLUSIOf
IF
L
TAXABLE VALUE
0.00
0.00
I.
-.
REV-1151 EX+ (12-99)
.
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
COMMONWEAlTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Lyons, Emma K.
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER
A. FUNERAL EXPENSES:
DESCRIPTION
See continuation schedule(s) attached
B.
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
1.
Gerald S. Lyons Linda Jean Young
Social Security Number(s) I EIN Number of Personal Representative(s):
Street Address 20 Lyons Lane
City Shippensburg
Year(s) Commission paid
State
PA
Zip 17257
2007
2.
Attorney's Fees
Weigle & Associates, P.C.
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City
Relationship of Claimant to Decedent
State
Zip
4.
Register of Wills, Cumberland County
Probate Fees
5. Accountant's Fees
6. Tax Return Preparer's Fees
7.
Other Administrative Costs
See continuation schedule(s) attached
TOTAL (Also enter on line 9, Recapitulation)
Copyright (c) 2002 form software only The Lackner Group, Inc.
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FILE Nt MBER
21-06 -0974
AMOl NT
8,845.40
60,964.00
31,843.00
1,688.00
7,104.75
110,445.15
Form P -1500 Schedul~ H (Rev. 6-98)
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Rev-1602 EX+ (6-98)
*' SCHEDULE H-A
FUNERAL EXPENSES
continued
~TH OF PENNSYlVANIA
INHERITAHCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE N JMBER
Lyons, Emma K. 21-oe -0974
.
ITEM i A
NUMBER DESCRIPTION MOUNT
,
1 Fogelsanger-Bricker Funeral Home . 8.195.40
2 Fogelsanger-Bricker Funeral Home - grave opening 650.00
Sub otal 8.845.40
Copyright (c) 2002 form software only The Lackner Group, Inc. Fonn PA-1 500 Schedule I -A (Rev. 6-98)
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Rev-1502 EX+ (6.98)
. SCHEDULE H-87
OTHER
ADMINISTRATIVE COSTS
COMMONWEALTH OF PENNSYLVANIA continued
INHERITANCE TAX RETURN
RESIDENT IlECEIlENT
ESTATE OF FILE N JMBER
Lyons, Emma K. 21-OE -0974
ITEM
NUMBER DESCRIPTION ,. MOUNT
1 Carl Bert & Associates - survey deposit 1,500.00
2 Carl Bert & Associates - balance due on survey 4,300.00
3 Cumberland Law Journal - advertising Letters Testamentary 75.00
4 News Chronicle - advertising Letters Testamentary 109.25
5 Recorder of Deeds, Franklin County - Brown mortgage satlsfact on 30.50
6 Register of Wills, Cumberland County - filing PA Inheritance Tu Return 15.00
7 Register of Wills, Cumberland County - filing Family Settlement "greement 75.00
8 Terry L. Shetter, Auctioneer - appraisal of personal property 100.00
9 Wolfe & Shearer Realtors - appraisal of real estate 900.00
Sub otal 7,104.75
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1 00 Schedule H-B7 (Rev. 6-98)
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Rev-1512 EX+ (5-99)
*'
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LlEUS
Cot.NONWEAlTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Lyons, Emma K.
Include un.......bursed medica' expeM".
ITEM
NUMBER
DESCRIPTION
1
Brown Optical & Hearing Aid Service
2
Continuing Care Rx
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FILE NUMBER
21-04 -0974
,
Continuing Care Rx I
Orrstown Bank Checking Account #103698652 - checks Clearin~ after date of d ath
3
4
5
PA Department of Revenue - 2006 PA40 ES
6
Peneiec
7
Penelec
8
u. S. Treasury - 20061040 ES
TOTAL (Also enter on Line 0, Recapltulatlor)
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
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VAL JE AT DATE
CF DEATH
3.00
1,210.83
59.17
7,416.78
500.00
107.13
89.77
1,800.00
11,186.68
Form FA-1500 Schedule I (Rev. 6-98)
.
REV.1513 EX+ (9-00)
.
SCHEDULE ..
BENEFICIARIES
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
NUMBER
Lyons, Emma K.
NAME AND ADDRESS OF
PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS [include outright spousal
ctistributions and transfers
under Sec. 9116(a)(1.2)]
RELATIONSHIP TO
DECEDENT
Do Not Ust Trusteelsl
FILE ~ UMBER :
21-06 '()974 I
SHARE OF ESTA E AMOUNTC F ESTATE
(Words) (~ $)
ESTATE OF
I.
1
Gerald S. Lyons
20 Lyons Lane
Shippensburg, PA 17257
Son
Real Estate a d
1/2 Residue
1,461 ,332.64
2
Linda Jean Young
13535 Tabscott Drive
Chantilly, VA 20151
Daughter
Cash
($150,000.00)
and 1/2
Residue
994 ,332.65
II.
Total 2,4&. ,665.29
Enter dollar amounts for distributions shown above on lines 5 through 18, as approp ate, on Rev 1500 ever sheet
NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTIOr- TO TAX IS NOT
BEING MADE
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-15oo COVER S EET I 0.00
Copyright (c) 2002 form software only The Lackner Group, Inc. Form P -1500 Schedule J (Rev. 6-98)
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LAST WILL AND TESTAMENT
I
I, EMMA K. LYONS, of Shippensburg Township, Cumbe land Count , pennsy~vania,
being of sound mind, memory and disposition, do hereby ma~e, publish nd dec1a~e this
time heretofore made.
I
toid
I
all wills by me at any
my Last Will and Testament, hereby revoking and making
FIRST.
i
I
I order and direct the payment of all my just d~bts
soon as may be convenient after my decease.
I
and fun ra1 expe~ses as
SECOND.
I give my tangible personal property, togethe~ with po1ic es of insurance
i
thereon, to my husband, HOWARD W. LYONS, if he survive me for a eriod of thirty
(30) days. My tangible personal property shall inc1u e, but not be 1imi~ed to:
household goods, personal effects, and personal automobi es;
11 not ilnc1ude:
cash, securities or similar assets. In the event my hutband, HOW W. Lyons, does
not survive me by thirty (30) days, I give said tang41e persona property to my
I
children, namely GERALD S. LYONS and LINDA JEAN YOUNG, ot to such of them as survive
both my husband and me, in approximately equal shares as Ithey
FUND A
kor a perio
rEAN YOUNG,
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inc~uded
f or the
of thir1ty (30)
THIRD.
If my husband, Howard W. Lyons, survives me
days, I give to my children, GERALD S. LYONS and LINDA
o hold llN TRUST
as
such amount, if any, as when added to other property
in my gross estate for
Federal estate tax purposes and not qualifying
marita
or ch~ritable
deduction, which property passes under prior provision of this W 11 or otherwise
than under this Will or is paid directly to the Trustees thet to
tV (SEAL)
172S7
MARK, WEIGLE AND PERKINS - ATTORNEYS AT LAW - 126 EAST KING ST~EET - SHIPPENS
T
,-
this Fund A, will produce a Federal estate tax in my est te, prior t
the use of such
death taxes (other than those imposed solely to obtain he
redit far state
,
credits, equal to the total of the available unified cre it and the
der Sectlion 201
,
of the Internal Revenue Code). This amount shall be com~uted prior
death taxes and may be satisfied with cash or with ass~ts in kind
I
value on the date of distribution. Any property in my t~xable estat
I
o the pa~ent of
at their, market
which WQuld not
the Trustees are not included in my gross estate
this Fund ,even ~f, as a
qualify for the marital deductions shall be allocated
result, it is overfunded. If any assets passing under
is Will or aid dir~ctly to
eral estate tax purposes, I
give the same, or direct the Trustees to allocate the s
to Fund , in addition to
the amount hereinbefore specified. If no amount is h ld in this trust during my
husband's lifetime, nevertheless the trust shall be cons~dered as being in e~istence
I
for the purpose of receiving funds at my husband's death.1 Said Fund A shall be held,
IN TRUST, for the following purposes: !
I
A.
To pay the net income therefrom to my
, HOWARD W LYONS, for his
life in such periodic installments as my tru tees shall ind convenient,
but at least as often as quarter-annually;
B. As much of the principal of this trust as my t us tees may rom time to time
think advisable for the support and maintenante of my hus and to maintain
him in the station of life to which he is accu tomed at my death, and after
taking into consideration his other readily av ilable and of income
shall be either paid to him or else be applied directly fo his benefit by
my trustees;
(SEAL)
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MARK, WEIGLE AND PERKINS - ATTORNEYS AT LAW - 126 EAST KING STtEET - SHIPPENS RG, PA. t 7257
1____
FOURTH .
~;-,!,.'.:-'<
-r
C.
My trustees may apply the net income of this
husband, HOWARD W. LYONS, should he by reason
rust for th support of my
f age, illn ss or an~ other
cause in the opinion of my trustees be incapabl of disburs.ng it;
D.
In addition to the above provisions,
have the power to direct the trustees to
principal in each year including the year of
Howard . Lyons shall
out of
the year! of his
death an amount not in excess of the greater of $5,000. 0 or 5%! of the
then-aggregate value of the trust principal. This power s noncu~lative
and can be exercised only by an instrument tended to take
effect during his life, signed by my husb nd, Howard W. Lyons, and
delivered to my trustees;
E.
Upon the death of my husband, Howard W.
predeceases me, this trust shall terminate and
and any accumulated or undistributed income sh
my children on a per stirpes distribution basi .
or upon my death if he
then-re ining p~incipal
be distr uted equally to
I give, devise and bequeath all of the rest an residue of y estate, real,
personal and mixed, whatsoever and wheresoever situat to my hus and, HO~ARD W.
LYONS, which is to be known as
under this my Last Will and Testament.
Howard W. Lyons, should predecease me, I
of my estate be distributed as follows:
1.
FUND B
In
that my eloved Q.u sb and ,
rest and residue
To my son, GERALD S. LYONS, I give
Township, Cumberland County, Pennsylvania, known as
Shippensburg, Pennsylvania, upon which is my
residence of my said son, Gerald
in Shipp,nsburg
ons Lanet
the curr$nt home
(SEAL)
-3-
MARK. WEIGLE AND PERKINS - ATTORNEYS AT LAW - 126 EAST KING ST EET - SHIPPENS RG. PA. 17257
r
2.
To my daughter, LINDA JEAN YOUNG, I give and
bequeaJ
the sum of ONE HUNDRED
FIFTY THOUSAND DOLLARS ($150,000.00); and
FIFTH.
The share of any person who shall not have at
d distribue equallYI to my
I
twerty-one
:
3.
The rest and residue of my estate shall be
children, Gerald and Linda, on a per stirpes distrib tion basis.
(21) years shall be held IN TRUST in a separate tr
dministe~ed and
I
i
I
distributed in accordance with the provisions hereinafterl
A. My trustees shall distribute so much of the net
set forth:
income and rincipall of the
trust to or for the benefit of such person a
my trustee in their sole
the
discretion shall deem advisable for the suppo t, educatio and he~lth of
such person and for the protection and preserva ion of his r her prioperty.
Any income not so distributed shall be accumul ted, d, admi~istered
and distributed as part of the principal;
B.
Upon the death of any person, his or her tr st shall t
then-remaining principal shall be distributed per stirpe to his. or her
then-living issue, or if there shall be no s ch my the~-living
I
issue per stirpes; I
C. This trust shall terminate upon the benefietary's reae ing the age of
twenty-one (21) years, and the trustees shall istribute a 1 principal and
any-accumulated income at that time;
i
i
D. I hereby nominate, constitute and appoint my hildren, or either o~ them,
to be the Trustee for any trust created under t is FIFTH pa agraph.
SIXTH. Any fiduciary, including my personal represen atives and Trustees r under
this Will shall have the following powers in addition to those veste in the~ by law
i
and by other provisions of my will applicable to all property, whethe prin~i~al or
.d . (SEAL)
-4-
MARK, WEIGLE AND PERKINS - ATTORNEYS AT LAW - 126 EAST KING ST~EET - SHIPPENSB RG, PA. 17257
i
I
1___.
income, including property held for minors, exercisable without Cou t approval, and
effective until actual distribution of all property:
A.
regard to any principle of diversification of
or personal, without
To retain any and all of the assets of my esta
B. To invest in all forms of property, including tock, commo trust funds and
Pennsylvania fiduciaries, as they deem pro
without regard to any
mortgage investment funds without restriction 0 investment authorized for
principle of diversification of risk;
C. To sell at public or private sale, to exchange or to lease, for any period
of time, any real or personal property, and to give option for sales,
exchanges or leases, for such prices and upon such terms r conditions as
they deem proper;
D. To allocate receipts and expenses to principal or income 0 partly to each
as they from time to time think proper;
E. To compromise any claim or controversy;
F. To distribute in cash or in kind or partly
G.
To hold property in their names without d signation 0
any fiduciary
capacity or in the name of a nominee or unregi
SEVENTH. The principal of any and all trusts created un er this Wil , and the income
therefrom, shall be free from the debts, liabilities
and
of those
beneficially interested therein, and shall not be subj ct to
her, nor to attachment or execution under any
itable
the enforcement of judgments or claims of any sort agai st them, eit er individually
or collectively.
-5-
MARK, WEIGLE AND PERKINS - ATTORNEYS AT LAW - 126 EAST KING ST EET - SHIPPENSB RG, PA. 17257
(SEAL)
I -
EIGHTH.
All federal, state and other death taxes paya Ie because
death, with
respect to the property forming my gross estate for tax or not
passing under this Will, including any interest or penal y imposed i connection with
such taxes, shall be considered a part of the expense of administration of my estate
and shall be paid out of Fund B without apportionment or right of re mbursement. All
such taxes on present or future interest shall be paid at such
or times as my
executor or my trustee may think proper regardless of whether
taxes are then
due; provided that any postponed taxes on future intere ts in the r
trust
shall be charged against the principal of the particula share with respect to which
the taxes are imposed.
NINTH. I appoint my husband, HOWARD W. LYONS, as Execu or of this y will. Should
GERALD S. LYONS, and my daughter, LINDA JEAN YOUNG, as o-Executors of this my Last
act, I ppoint my son,
my husband predecease me, fail to qualify or cease
Will and Testament.
TENTH.
No bond shall be required of any fiduciary here nder in any jurisdiction.
IN WITNESS WHEREOF, I, EMMA K. LYONS, have hereunto set my hand and seal to this
my Last Will and Testament, written on six pages, the first five ages signed for
identification only, this ;{~Jday Of~~
(SEAL)
-6-
MARK, WEIGLE AND PERKINS - ATTORNEYS AT LAW _
I
126 EAST KING STtEET - SHIPPENSB RG, PA. 172S7
I
,.'IT'../!.'Ii,,F.,,-T~~
~
This instrument was by the Testatrix, EMMA K. LYONS, on the date hereof, signed,
published and declared by her to be her Last Will and Testament,
r presence, who
at her request and in her presence and in the presence f each
, we, believing
her to be of sound and disposing mind and memory, have h reunto
our names
as witnesses.
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF CUMBERLAND
I, EMMA K. LYONS, the Testatrix whose name i
signed
the foregoing
instrument, having been duly qualified according to law, do
nowledge that I
signed and executed the instrument as my Last Will; that I signed willingly; and
I
that I signed it as my free and voluntary act for poses there" expressed.
Sworn or affirmed to and acknowledged
before me by EMMA K. LYONS, the Testatrix,
this Jlfld day of~I2.u~A.j , 1994.
NoIIriIIIIIt
ReIJIca l. Holtry, ........,.....
........ PA ........;#
MARK, WEIGLE AND PERKINS - ATTORNEYS AT LAW - 126 EAST KING ST~EET - SHIPPENSB RG. PA. 17257
-t>:.. <...;"..,.:J:"'i',"'....~.,-.--;"" ';,T -".--~
..
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF CUMBERLAND
We,
C(\-\-O~s Lf:> R\ b~l
and
being duly
the witnesses whose names are signed to the
qualified according to law, do depose and d saw Testatrix,
EMMA K. LYONS, sign and execute the instrument as her Last Will; that she signed
willingly and that she executed it as his free and vo untary act or the purposes
therein expressed; that each of us in the hearing and sight of the Testatrix signed
the will as witnesses; and that to the best of our kn wledge the estatrix was at
the time eighteen (18) or more years of age and
of sound mind and under no constraint or undue influence
Sworn or affirmed
before me b
and
witnesses, this
StLf~~6\."V'
'-
NolIriII SIll
IIetJeca l. Holtry, NaIIry PaIIIc
SIippenbu.... PA ~.;:1 tMlJ
CommiIIiII Ex . 1.
I
I
MARK. WEIGLE AND PERKINS - ATTORNEYS AT LAW - 126 EAST KING ST1EET _ SHIPPENSB RG. PA. 17257
i
I
I
-2001 12:35flM Fa-wDlFr ''''SHEARER REALTORS
+7172430472 T
!
T-861 .DDZ/D02 P-151
..
January 11 2007
Mr. Thomas L. Bright
Attorney at Law
Weigle & A5Sociates~ P.C.
126 East King Street
Shippensburg, P A 17257
I
I
I
I
I
I
Dear Mr. Bright ~
In compliance with your request, I/we have personally inspected the ove captioned
estimate its present market value
Subject: 10-20 Lyons Road
Cumberland Count)'
Shippensburg. P A
The value shown has been anived at after careful study of the locatio and type of im ovements.
their present physical condition and their present use. Therefore, believe It to r fleet a true
measure of the present-day market value "AS OF" Deeember 19,20
SIX HUNDRED TWENTY FOUR mOUSAND DOLLARS $6 ,000
I hereby certify that I have no fmanciai inteR:st, present or contempl d, in this prop , and that
neither the employment to make the appraisal nor the compensation erefrom is con 'ngent upon
the value reported.
~~~,~~
WILLIAM A. BASSETT.
P A Certified General Real Estate Appraiser
GA-001618-L
3
Received Time Jan.l 1. 12:27PM
,. -
~-----,--, ..-------
---:-:.-.-.- ---
\~i~~ ~~J~lv:/1
{I"1 SII, S 2-
-
"~Ir~~.
\t
SHINE
HOWARD W LYONS
EMMAKLYONSJTTEN
PO BOX 8
SHIPPENSBURG PA 17257-0008
1'1111111.1..1.1.1.1.1111111'1111'1111'111111.11'1111111111.11
For account numberl51, refer to page 2 'Account Summary.'
- ~-_.~-- --_._--~-......".......~~-
Invest
ent Re
art
July 1,2006 - Sep ember 29,2006
0],12110
$23,904.64
Beginning Value
Investments/Contributions
Withdrawals/Redemptions
Dividends/Cap Gains
Change in Portfolio Value
lotll Portfolio Value
au.rt.rIy Activity
$23,453.60
$0.00
$0.00
$318.92
$451.04
$23,904.64
V.ar-to-Date Activity
$23,475.08
$0.00
$0.00
$956.77
$429.56
$23,904.64
Change in Portfolio Value is the difference between the Total Portfolio
Value (closing value) and the Beginning Value.
Page 1 of 3
. Financ' I
Adviso
JOHN T RELKELD
062
SUNTR ST INVESTMENT SERVICES INC
SUNTR ST PLAZA 25TH FLOOR MC 3906
303 PEA HTREE ST NE
ATLANT GA 30308-3201
~
t)
(800)84 2424
vankam en.com
e you planned for a
non? It's not too
late. Talk to your cial advisor about
a co ege investment p or visit
pen.com.
Pan:ant Aua. Category Total Val..
0.00% Growth $0.00
0.00% Growth & Income $0.00
0.00% Global/International $0.00
0.00% Income $0.00
0.00% Senior Loan $0.00
100.00% Tax Free $23,904.64
0.00% Capital Preservation $0.00
100.00% Total $23,904.64
ACM....l...al.1ul...ml..:D7'lLCNIACI01.IW...AG.........AC$.......00D3137..
MORTGAGE
THIS INDENTURE, made the 30111 day of April, in the year oJ our Lord one ousand nine
hundred ninety-nine (1999). "I
!
AND:
EMMA K. LYONS, of 10 Lyons Lane, Shippensburg,
hereinafter referred to as Mortgagee:
BETWEEN: GERALD S. LYONS, of20 Lyons Lane, Shippensbur ,Pennsylvani
hereinafter referred to as Mortgagor,
WHEREAS, the said Gerald S. Lyons, Mortgagor, in and b their certain bligation, or
writing obligatory, under their hands and seals, duly executed and g even date h rewith, stand
bound unto the said Mortgagee in the sum of ONE HUNDRED EIG THOU. DOLLARS
($180,000.00), conditioned for the payment of the just and full s of One H dred Eighty
Thousand Dollars ($180,000.00), together with interest thereon, at the rate pay~le i the Note, in
the manner and at the times therein set forth, and containing certain 0 er terms and nditions, all
of which are specifically incorporated herein by reference; also tog ther with the remiums of
insurance, taxes, ground rents, water rents, municipal assessments an charges from time to time
assessed against or upon the hereinafter-described mortgaged premises, without any or further
delay, as in and by recited obligation and the condition there relating to e same afore od, shall also
pay all costs, fees and expenses of collecting the same including an a orney's co ssion of five
percent.
NOW TIDS INDENTURE WITNESSETH, that the said ortgagor, as w 11 for and in
consideration of the aforesaid debt or sum of One Hundred Eighty Tho d Dollars ( 180,000.00),
and for the better securing the payment thereof unto the said Mort agee, her exe utors, heirs,
successors and assigns, in discharge of the said obligation above recit as for and in nsideration
of the further sunl of one dollar in specie, well and truly paid to the aid Mortgago , by the said
Mortgagee, at and before the ensealing and delivery l1ereof; the receipt f which one d lIar is hereby
acknowledged, has granted, bargained, sold, released and confirmed, and by these resents does
grant, bargain, sell, release and confirm unto the said Mortgagee, her e~ utors, heirs, ccessors and
assigns, all that certain tract of real estate with improvements thereon cted known 43-45 West
King Street, Shippensburg, Pennsylvania, more fully described in E bit "A" attach hereto and
made a part hereof.
TOGETHER with all and singular the buildings, improvements, wo , ways, rights liberties, privileges,
hereditaments and appurtenances to the same belonging, or in anyway appertaining, d the reversion and
reversions, remainder and remainders, rents, issues and profits thereo To have and 0 hold the said
hereditaments and premises above granted, or intended to be, with the appurtenance , unto the said
Mortgagee, her executors, heirs, successors and assigns, forever.
AND it is further understood and agreed that the said Mortgagor his executors, heirs, successors and
assigns, will pay all taxes, municipal assessments and charges from ti e to time ass sed against or upon
said mortgaged premises forthwith when the same become due and p yable, and wi I keep the buildings
erected upon the said premises insured in some good and reliable fir insurance co pany or companies
licensed to transact business in the Commonwealth of Pennsylvania, in the amount of t least One Hundred
Eighty Thousand Dollars ($180,000.00) and shall take no insurance unsaid buildin s not marked for the
~1J:r::;>f:.
IU-
benefit of the Mortgagee, and the policy or policies, with a proper mortg gee or loss pa able clause attached,
shall be delivered to and held by the said Mortgagee, her executors, hei , successors or assigns, as collateral
security for the payment of moneys secured hereby, and in case sa'd Mortgagor, is executors, heirs,
successors or assigns, shall neglect to procure such insurance, or shall eglect to pay aid taxes, municipal
assessments and charges forthwith when the same become due an payable, the aid Mortgagee, her
executors, heirs, successors and assigns, may take out such policy or po icies in her 0 name, and may pay
such taxes, municipal assessments and charges, and the premium or p emiums paid erefor, and the sum
or sums paid for such taxes, municipal assessments and charges as afi resaid, shall b interest from time
of payment, and be added to and collected as part of the said principa sum and in th same manner.
AND it is further agreed and understood, that in case default be made at any time in the payment of principal
debt or any installment of principal debt or interest, or any part ereof, or of y taxes, municipal
assessments, charges or premiums of insurance aforesaid, for thirty ( 0) days after e same falls due as
aforesaid, the whole of the said debt and interest and additions thereto aforesaid sh I, at the option of the
said Mortgagee, her executors, administrators, heirs or assigns, bec me due and p yable forthwith; and
thereupon an action of mortgage foreclosure as now provided by the ennsylvania P ocedural Rules 1141
to 1148, both inclusive, or other appropriate proceedings, now or he er prescribed y law, may forthwith
be commenced and prosecuted to judgment, execution and sale, for e collection 0 the whole amount of
the said debt and interest remaining unpaid, together with all premiums f insurance, d all taxes, municipal
assessments and charges, and all fees, costs and expenses of suc proceedings, including attorney's
commission offive percent (5%) of the principal sum. And all errors said proceed gs, together with all
stay of or exemption from execution, or extension of time of paymen which may b given by any Act or
Acts of Assembly now in force, or which may be enacted hereafter, hereby foreve waived and released.
PROVIDED ALWAYS, NEVERTHELESS, that if the
heirs, successors or assigns, do and shall well and truly pay, or c e to be paid unto the said
Mortgagee, her executors, heirs, successors or assigns, the aforesaid ebt or sum of One Hundred
Eighty Thousand Dollars ($180,000.00), on the day and time hereinbe ore mentioned d appointed
for the payment thereof, together with lawful interest for the same, d the premi of insurance
aforesaid, taxe~, municipal assessments and charges, in like mon y, in the wa and manner
hereinbefore specified therefore, without any fraud or further delay and without y deduction;
defalcation or abatement to be made, for or in. respect of any es, charges 0 assessments
whatsoever, that then, and from thenceforth, as well this present In nture, and th estate hereby
granted, as the said obligation above recited shall cease, determine become abso utely null and
void to all intents and purposes, anything hereinbefore contained to e contrary the f in anyway
notwithstanding.
MORTGAGOR shall not have the right to assign this Mortg ing Mortgage
Note without the prior written consent of the Mortgagee. Mortgago 's obligation reunder shall
not be assumed by any other person without the prior written conse of the Mortg gee.
UPON the sale or transfer of title of the real estate described i the within M rtgage or any
interest therein or any part thereof unless released by Mortgagee, t le entire unpa d balance of
principal and interest of the Note secured by this Mortgage shall b come immedi tely due and
payable.
IN WITNESS WHEREOF, the said Mortgagor hereunto set
and year first above written.
WIlNESS:
Gerald S. Lyons
(SEAL)
,~.',,'. ,,.....'.:-"'il'~~'<~.,c;.'C'--,.~
COMMONWEALTH OF PENNSYLVANIA
ss.
COUNTY OF CUMBERLAND :
On this 30lh day of April, 1999, before me, the undersigned Olffier for said Co ty and State,
the undersigned officer, personally appeared GERALD S. LYONS, own to me (0 satisfactorily
proven) to be the person whose nanle is subscribed to the within inst ent, and ackn wledged that
he executed the same for the purposes therein contained. '
I
IN WITNESS WHEREOF, I hereunto set my hand and OffiCi~1 seal.
(SEAL)
NOTARIA SEAL
THOMAS L. BAIGH . Notary Public
Shippensburg Bora. Franklin County
M Commission Expi as Nov. 5. 2000
I do hereby certify that the precise residence and complete pos office address f the within-
named Mortgagee is 10 Lyons Lane, Shippensburg, Pennsylvania 17 57.
April 30, 1999
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF CUMBERLAND
RECORDED on this
County, in Deed Book
day of
, at Page
, 1999, inlthe Recorder's ffice of said
Given under my hand and seal of the said office, the date abo~e written.
I
Recorder
U~"'~--,_;F"''':_:.'~--" ,.,o~....,,,,,.,.-,..,..- I ----
...
Loan Calculator
EnW v...... LoI inS
Loan Amount $ 180.000.00 I f= $ 1,733.66
Annual Interest RaCe 7.50 " Scheduled Number c 168
Loan Pertod in Years 14 ActuII Number ( , payments 168
Number of p~ Per Year 12 Total...., PaymenIs $ -
StIlt DIIte of LolIn 611/1999 T bt8IlntereIt $ 111 ,254.55
Extra
Lender......: lEMMA LYONS I
Pmt Payment Beglmlng 8checIuIed ExIrI Total I EndIng
No. o.e. &.lance ,..,..... PrIncipal ~ce
1 7/1/1999 $ 180,000.00 $ 1.733.86 $ - $ 1,733.88 $ 808.88 $ ,125.00 $ 179,391.34
2 811/1999 179,391.34 1.733.66 - 1.733.66 812.46 1, 121.20 178,778.88
3 811/1999 178,778.88 1.733.66 - 1,733.66 818.29 ,117.37 178,162.59
4 101111999 178,162.59 1.733.86 - 1,733.66 820.14 ,113.52 177.542.45
5 11/1/1199 177.542.45 1.733.86 - 1,733.86 624.02 ,109.64 178.918.43
8 1211/1999 178.918.43 1.733.86 - 1.733.88 827.82 ,105.74 178,290.51
7 1/1/2000 178,290.51 1.733.86 - 1,733.. 831.84 ,101.82 175,858.87
8 21112000 175.858.87 1.733.86 - 1.733.66 835.79 .097.87 175,022.88
9 31112000 175.022.88 1.733.68 - 1,733.86 639.77 .093.88 174.383.11
10 4/112000 174.383.11 1.733.86 - 1,733.86 843.78 ,089.88 173,739.35
11 51112000 173.739.35 1.733.86 - 1.733.. 647.79 ,085.87 173,091.58
12 611/2000 173.091.58 1.733.68 - 1.733.. 851.84 .081.82 172,439.73
13 7/1/2000 172.439.73 1,733.86 - 1,733.86 855.81 .077.75 171,783.82
14 811/2000 171,783.82 1.733.. - 1,733.. 880.01 ,073.85 171,123.81
15 811/2000 171.123.81 1.733.86 - 1.733. 664.13 1.089.52 170,459.87
18 1011/2000 170.459.87 1.733.86 - 1.733.. ..29 1,085.37 189,791.39
17 11/1/2000 ....791.39 1.733.68 - 1,733.88 872.46 1.081.20 189,118.83
18 1211/2000 "',118.93 1.733.86 - 1.733.. 678.. 1,058.89 168.442.26
19 1/112001 1.,442.26 1.733.66 - 1.733.. 880.89 1,052.78 167,781.37
20 21112001 117.781.37 1.733.66 - 1.733.. 685.15 1.048.51 167,078.22
21 31112001 187.078.22 1.733.86 - 1,733.. 689.43 1,044.23 1.,386.79
22 41112001 _.388.79 1.733.86 - 1,733.. 883.74 1.039.82 165,893.05
23 5/112001 185.883.05 1.733.86 - 1.733.66 688.08 1.035.58 164,994.97
24 8/112001 184.894.97 1.733.86 - 1.733.. 702.44 1 031.22 164.292.53
25 7/112001 184,292.53 1.733.66 - 1.733.86 708.83 1 026.83 163,585.70
26 8/112001 183.585.70 1.733.88 - 1.733.. 711.25 1 022.41 162.874.45
27 81112001 182.874.45 1,733.68 - 1,733.. 715.69 1 017.97 162.158.78
28 101112001 182,158.78 1.733.68 - 1,733.68 720.17 1 013.49 181,438.60
29 11/112001 181,438.60 1.733.68 - 1.733.. 724.67 1 008.89 160.713.93
30 121112001 160,713.93 1,733.68 - 1,733.88 729.20 1 004.46 159,984.73
31 1/112002 159.984.73 1,733.68 - 1.733.86 733.75 199.90 159.250.98
32 21112002 159,250.88 1,733.86 - 1.733.88 738.34 995.32 158.512.64
33 31112002 158.512.64 1.733.68 - 1.733.. 742.95 990.70 157,789.89
34 41112002 157,769.89 1.733.68 - 1.733.88 747.80 986.08 157,022.09
35 51112002 157,022.09 1.733.88 - 1.733.88 752.27 981.39 156,269.82
36 6/112002 158,289.82 1.733.88 . 1,733.66 758.97 978.89 155,512.85
37 7/112002 155.512.85 1,733.88 . 1.733.88 781.70 971.96 154,751.14
36 61112002 154.751.14 1.733.88 - 1.733.88 788.46 967.19 153,984.68
39 81112002 153.814.68 1.733.68 - 1,733.88 771.25 962.40 153,213.43
40 101112002 153,213.43 1,733.68 - 1.733.88 778.07 957.58 152,437.35
41 11/112002 152.437.35 1.733.68 - 1.733.88 780.82 952.73 151...43
42 121112002 151.858.43 1.733.68 . 1.733.88 785.81 947.85 150.870.62
43 11112003 150.870.82 1.733.68 - 1,733.88 790.72 942.94 150.079.91
44 21112003 150.079.81 1.733.88 - 1,733.88 795.88 938.00 149,284.25
45 31112003 149,284.25 1,733.88 - 1.733.88 800.83 933.03 148,483.62
48 ..,112003 148,483.82 1.733.68 - 1.733.88 805.64 828.02 147,677.98
47 5/112003 147.877.98 1.733.68 - 1,733.86 810.67 922.99 148,887.31
48 8/112003 148,867.31 1.733.68 . 1,733.88 815.74 917.92 148.051.57
49 7/112003 148.051.57 1,733.86 . 1.733.86 820.84 912.82 145,230.74
50 81112003 145,230.74 1.733.88 - 1,733.88 825.97 907.69 144,404.77
51 81112003 144,404.77 1,733.68 - 1,733.86 831.13 902.53 143,573.64
52 101112003 143.573.64 1.733.88 . 1,733.. 836.32 897.34 142,737.32
53 11/112003 142.737.32 1,733.68 - 1,733.. 841.55 882.11 141,895.77
54 1211/2003 141.895.77 1,733.68 - 1.733.. 848.81 888.85 141,048.98
55 1/112004 141.048.98 1.733.88 - 1,733.86 852.10 881.58 140,198.88
58 21112004 140.198.88 1.733.68 - 1,733.88 857.43 ~76.23 139,339.43
-~ ---- -- -- ---- ------ I _...1_-- -
Pmt Payment Beginning Scheduled Extra Total Ending
HI>>. 0.18 EIaIIInce Payment Payment P Principal Balance
57 311/2004 139,339.43 1.733.66 1.733.66 882.79 870.87 138,478.65
58 411/2004 138,476.65 1,733.66 1,733.66 868.18 865.48 137,608.47
59 511/2004 137,608.47 1,733.66 1,733.66 873.61 660.05 138,734.86
60 6/1/2004 138,734.86 1,733.66 1,733.66 879.07 854.59 135,855.80
81 7/1/2004 135,855.80 1,733.66 1.733.66 884,56 848.10 134,971.24
62 6/1/2004 134,971.24 1,733.66 1,733.66 890.09 843.57 134,081.15
63 81112004 134,081.15 1,733.66 1,733.86 895.65 838.01 133,185.50
64 101112004 133,185.50 1,733.66 1,733.66 901.25 832.41 132,284.25
65 11/1/2004 132.264.25 1,733.66 1,733.66 908.88 628.78 131.377.37
66 1211/2004 131,377.37 1.733.66 1,733.66 912.55 621.11 130.464.82
67 1/112005 130,464.82 1,733.66 1,733.66 918.25 815.41 129,546.57
68 21112005 129,548.57 1,733.66 1,733.66 923.99 809.67 128,822.57
69 3/112005 128,622.57 1,733.66 1,733.66 929.77 803.89 127.892.81
70 41112005 127,892.81 1,733.66 1,733.66 935.58 798.08 128,757.23
71 51112005 128,757.23 1,733.66 1,733.66 941.43 792.23 125.815.80
72 6/112005 125,815.80 1,733.66 1,733.66 947.31 786.35 124,868.49
73 7/112005 124,868.49 1,733.66 1,733.66 953.23 780.43 123,915.26
74 81112005 123,915.26 1,733.66 1,733.66 959.19 774.47 122,956.08
75 81112005 122,958.08 1,733.66 1,733.66 965.18 768.48 121,990.89
76 101112005 121,990.89 1.733.66 1,733.66 971.21 762.44 121.019.88
77 11/112005 121,019.68 1,733.66 1,733.66 977.29 756.37- 120.042.39
78 121112005 12O~042.1::.. J-m.66- ~- .. 119.059.00
79 1/112006 ~II 1. .66 118.089.48
80 21112006 118. .48 1,733.66 1,733.66 995.72 737.93 117,073.74
81 3/112006 117,073.74 1,733.88 1,733.66 1,001.95 731.71 116,071.79
82 41112006 ~ 1,733.86 1,733.66 1,008.21 725.4&iIt 115.063.58
83 51112006 1.733.88 1,733.88 1,014.51 719.15 114,049.07
84 61112006 114,049.07 1,733.66 1,733.88 1,020.85 712.81 113,028.22
85 71112006 113,028.22 1.733.66 1,733.88 1,027.23 708.43 112,000.99
66 81112008 112,000.99 1,733.66 1,733.66 1,033.85 700.01 110,967.34
87 81112008 110,987.34 1.733.88 1,733.66 1,040.11 693.55 109,927.22
68 101112008 109,827.22 1,733.66 1,733.66 1,048.61 687.05 108,880.61
89 11/112008 108,880.61 1.733.88 1,733.88 1,053.15 880.50 107.827.48
90 121112008 107,827.48 1,733.66 1,733.88 1,059.74 673.92 106,767.72
91 11112007 106,767.72 1,733.66 1,733.66 1,066.38 867.30 105,701.38
92 21112007 105,701.38 1,733.66 1,733.88 1.073.02 880.63 104.628.34
93 3/112007 104,828.34 1.733.88 1.733.88 1,079.73 853.93 103,548.61
94 41112007 103,548.81 1.733.66 1,733.88 1,066.48 647.18 102,482.13
95 51112007 102.462.13 1.733.66 1,733.88 1.093.27 640.39 101,388.88
96 6/112007 101,388.86 1,733.88 1.733.88 1,100.10 633.56 100,268.75
97 7/112007 100,268.75 1,733.66 1,733.88 1.106.98 628.88 99.181.78
98 81112007 99,161.78 1,733.88 1,733.88 1,113.90 619.76 98.047.88
99 81112007 98,047.88 1,733.88 1,733.88 1,120.86 612.80 96.927.02
100 101112007 96,827.02 1.733.88 1,733.88 1,127.86 605.79 95,799.16
101 11/112007 95,799.16 1.733.88 1,733.88 1,134.91 598.74 94,664.24
102 121112007 94,884.24 1,733.88 1,733.88 1,142.01 591.85 93,522.24
103 1/112008 93.522.24 1,733.66 1,733.88 1,149.14 584.51 92,373.09
104 21112008 92.373.09 1,733.88 1,733.88 1,158.33 577.33 91,216.77
105 3/112008 91,218.77 1,733.88 1,733.88 1,163.55 570.10 90,053.21
106 41112008 90.053.21 1,733.66 1,733.88 1,170.83 562.83 88,882.39
107 51112008 88,882.39 1,733.66 1,733.88 1,178.14 555.51 87,704.24
108 61112008 87.704.24 1.733.66 1,733.88 . 1.185.51 548.15 86,518.74
109 7/112008 88,518.74 1.733.66 1,733.88 1,192.92 540.74 85,325.82
110 81112008 85,325.82 1,733.88 1.733.88 1,200.37 533.29 84,125.45
111 81112008 84,125.45 1,733.88 1,733.. 1,207.87 525.78 82,917.58
112 101112008 82.917.58 1.733.. 1,733.. 1,215.42 518.23 81.702.15
113 11/112008 81.702.15 1,733.88 1,733.88 1,223.02 510.64 80,479.13
114 121112008 80,479.13 1.733.66 1,733.88 1,230.88 502.99 79.248.47
115 1/112009 79,248.47 1.733.66 1,733.88 1,238.38 495.30 78,010.11
118 211/2008 78,010.11 1,733.66 1.733.88 1,248.09 487.56 76.784.02
117 3/112009 78,764.02 1.733.88 1.733.88 1,253.88 479.78 75.510.14
. 118 41112009 75,510.14 1,733.88 1,733.88 1,281.72 471.94 74.248.42
119 51112009 74,248.42 1,733.88 1.733.88 1,289.61 .05 72.978.81
120 6/112009 72,978.81 1.733.66 1.733.66 1,277.54 .12 71.701.27
-,
~
7;;). /llJ
THIS INDENTURE
MADE THIS .1l1L- day of JULY j in the year oj 0",. Lord o1le thollSlllUl nine, IuuuInd tlIUI nin (1999).
BETWEEN JlICBABL B. BROWN.., JUUB A. BROWN, #iii wife, 0/167 Gre.., M,.Jo" Dmt, , Pe~
~ ref,rred to a Mo,.,.,,... pIII1in 0/ tIu jint J1tII1, I
AND BJIJIA K. LYONS, widow -.". __, 0/10 Lyoru z...., ~, PM.q~ ,"~r re/e III.. MOl'fppe,
ptI1tJ 0/ tIu 6ICDM ptI7t: I
WHEREAS, tII, IiIitI JlIClIABL E. BROWN tIIIIl JUUB A. BROWN, #iii wiI,. ill tIIIIl ., . UI'IIIbI ~ 0 W1iIbt, o1JIipID",
ruuln dulr ""'1IIf4 --, Aq u.CIIIMlIIIt4 HIriIr ",.. .. AImritII, ...110I11III1liiio tilt
ONE HUNDRED THOUSAND DOLLtRS ($100,000.00), topther with ilItue
GIUIIUJI, it being fllUkrstood that inNre. tlIUI prlndptIl ,W be ptIi4 in monthly
FORTY-EIGHT DOUARS tIIUl FIFrBEN CENTS ($948.15), monthly, be' .
and continuing thereqfter rmtil the UIL day oj lJBL 2014, at which tiIIN "",y
IICcrrutl interell ,Iudl beCOIIN tbu and ptIJtIble in ftdL PIl]IIN"" he,."",.,. &
IICcrrutl interell and the 1HI/iuace 011 IICctJrUIt of re4uctton of prlnciptll. Mi
all or part oj the princfptIl hereof at """ tiIIN without peu1ty, proviJhd that any
o1le installm.elll oj principal.
NOW THIS INDENTURE WITNESSETH, tllt#tlulllidplll1inoJtllljint
tiforutJtid 6k or.... 0/ ONE l1llNDRED THOUSAND DOlLA1lS ($1(J(J,000.(J(J), lIIItl/or till
IIIid ".,." III till "cad J1tII1, Iutr u.t:fIIt1r'., ""Utl-.n tIIIIl...., Oil 6clMltp 0/ till
co~ 0/ till jrIrtIIIr .... 0/.., ."",. ill""', IHIl tIIIIllnll1 JIII/4 to till l1li4 JIIII1li8 0/
ptIIt, tit IIIf4 Njore tIu "...., .., ~ UIwf, tIu re"", 0/ wMcA Dill ".". U .,..,
re"lIII4l11f4 co""""'" tIIld.,..."."",. tIIIIl".,." ....., .Ill, ,.,."" tI11III co"""" 1liiio till
tIIld ....,
AIL the Jollowing two tTrIctI oj utate lyiIIg tlIUI being lituate in Gree$e Tow1llhip,
PeMSylwlnia, bornuled tIIUllilnitetl follJJw,:
CoUllty,
TRACT NO.1: BEGINNING at"", " pin 011 the no""em right-of-wtty liM oEOW1IITIip 605; thence by
'111M 011 the cfU1Ie to the right Iuzvin G chord bearing of South 53 thgreeJ, 12 '8, 1 '8ee Welt, G rtIdiru
of 235.36 feet, G distance of 60.11 fl t to "", iroll pin; the1lce by ItIIU South 45 'gIWe" 48' '8, 33 ,eco1Ub
Well, 191. 88fe. to till iro1l pin; the e No"" 8 degree,,14 """""', 33 'eco~., 35.82fe. to"", iroll pin;
thence 011 G cfU1Ie to the right Iu.Jving chord bearing oj No"" 18 thgree" 11 I, 43 ,ee Bat, G rtIdiru
oj 40.00 Jeet, G distance oj 110.16 Je to "", iro1l pin; the1lce 011 G c",.,e to the left . g G chord . g 01 No""
26 degree" 25 nriIuIU" 55,eco1Ub elt, G rtIdiru oj 15.00, G dlsttmce oj 1~'89 -e. to "", iro1l '; thence alollg
the eMtml rlght-of-wflY 11M ofGree Meflllow DrilIe, No"" 1 degree" 44 I Btut 14.89 Je to till iron pin
at Lot 1 (Tract No 2 de,cribed below); the1lce by Lot 7, South 19 thgree" 15' '8, 12,eco'" , 156.53 leet
to till iro1l pin 011 the northem rigllJ. -wflY line of TOWlllhql Route 605, the e of BBGINN. .
!
I
A. Brl1uIle Auocitde" datMl Aa.....l1; 1983, reco
.. 911.
CONTAINING 0.2812 IICre
BEING Lot 6 ", ',",WII 011 drt1Jt of
Coruaty, Deed Book Volume mc,
TRACT NO.2: BEGINNING tit till . Tow",hqI rollle 605; the1lce by
ItI1'M 011 G CfU1Ie to the right Iuniag chord bearing of South 63 thgree" 1 , 26,eco1Ub It, G rtIIlbu of
235.36 feet, G distance of 20.00 feet till iroll pin; thence by Lot 6 (Tract No. 1 .'Ve) North :9 thgree" 15
minute" 12 ,eco1Ub Well, 156.53 fe to tIIIiron pin on the ellltem right-of-w liM of Greene adow DrilIe;
thence by '111M North 1 degrees, 44 . lites, Btut 60.00 feet to a point; thence 0"" 54 thgrees, 1111in11tes, 13
VOl131111~C~ 0512.
IIC.tuls &st, 70.31 feG to an iroll pin; thellce by Lot 8, South 41 degrees, 27
feet to an iroll pin .11 * N.rthem right-of-way line Df TowllShip Rom 605,
CONTAINING 0.2694 acre
BEING * StIIM premises which Dale R. StouJIer and VICki L. Stouffer, Ids w(fl , by de<<l tlDI<<l./i 28, 1986
IIIUI recDnUtl FebTIUIIY 7, 1986 in * OJJice Df* bCD""'" Df De<<ls, in andfo FrtmIdba County Permsy"tmia,
ill De<<l Book 950, Page 159, grtl1It<<l and cD,..eyed to Mtcluul B. Browra and 'u& A. Brown," wife.
I
TOGETHER WI77l ..... __'" _ _. _ ....$' _ __...
~..Io tIN "",.. H"""'. or ill _,., ..".",." tIIUl tIN ,.."..,. tIIUl MIIIIbultr tIIUl , mil, II"",
""" ,,../its,,,.,...f. To B"." l1li4 10 BoI4 t/g 1fIiIl1u,.,.",."", l1li4 pradI" ... "..",., or 10 10 H, IIu """".""c..,
IUIID IIu IfIid ,.", 0/ IIu "CtlfItl JIfIIf lur Iuln tIIUl..... fornn.
AND it II /Wt1IIr"".,..",.1III4 ...",. tlullli4 JM1fU' o/tlujint,.", t1urir Iuin l1li4 .
""" cIuI1pI jrtRllliIM 10 IiIM ...... ...., or IIpOlIIiIid .."..."..u" /ortltwitj ...
bq tlulnlil4bap ,redMl... tlulilid""'" ".""., ill .... 600i l1li4 reIiIJIIt /In iIuunIIICI
....... ill tIu c..u...n,... of P."".".",. ill IIu IIIIfOfIIIt 0/. ".., ONE BUNDIlIlD
~ ... IIIi4 hdIdlrI.._ """'for tIu HuJiI oftlu AI"",.", l1li4 tIu JItIIlt:1 or .
daJu, --w. duI1l H ~ 10 _1uI411 tIu 1tIi4,.", o/tIu"CtIfItl,.", lur.-t:IIIor'"
for tIu ptqIIUIIt 0/-.,' IICII1'Wl ,..,.." _ ill ctIIf l1li4 JM1fU' 0/ tIu jInt,.", t1urir Iuln
iIuunarc" or .1uIll"'pet 10 ptI1lt1i4ltDtU. .....u:ipIIl...""".... ~.. jortIIwit/t, 1I'1u.
ptII'tia o/tIu jint ptIITt, t1urir .-cruor", ~ or...., ..., IIIkt out IUd! JItIIlt:1 or .
Ia'a, ..";q,.l.........",, _ ,.,.,.., .. tIu ".... or""'" pt1ltl tIurtjor, .. tIu
.....".""... cIuIrp6 . lI/orat1I4, duI1l",.,. iIIU"" frolll ,., 0/ ptI1IIHIIt, .. HIIIItlM 10
""" ill tIu "",.. III/IIIII".
AItIl it U /III1kr..- IIIId "".,."".",. ill CIIIf -full H ...._, tirIUI ill * ptI11INIIt" * prUu:ipfd dUt or .
*,...f, or of",., 1tDtU, 1IIIIIIktMl........, ..,."" or ',.,'.IIIU/"""""'CU/......J4. for ."""",. lit, "",.. /l
lit. 11'lioii o/IIuIilid _61 _ bItnat..1IIIditit>>u "",.,. . ~ IIuI1l, .* opIioII o/tIu ""'0/ tIu ,
~ortwip6, HcorrN_..JItI1tIIMjoI1/nt1itII; _dttN... _1IditJft 0/"""" .........
l'roc<<buwl1l1lh, 1141 10 1148, loti iIu:lIuiP'. or otIur IfIlII'OlIrii* ~... .... or ]II'WIeIiIIed 11
CtI"","IIC_ l1li4 "."cuad ", jutlpIH"" .-ClllitnlIIIId MIll. for dtt co&diInI 0/* 11''''* 0/* IIIId .61
IIIqItIi4, "",tlur witA "" pmIfIau 0/ iIuunIIICI, .. "" 1tDtU. IIIl111idpcrl ".""".". tIIUl , .."" I''', ctn*
JHfJC,....... iIaclIMIba61111DFIH1" CtllIIlIIiaioll 0/ JIw ",. ClIII, 0/ tIN "",.", I11III. AJI4"" ttmR'I iIIliIid proce.......
0/ or a"""". /rtJIII.-cutioll, or aIaIio. 0/1iIM 0/1JII1III'''' wlddl ..., H ,m. bJ-, Act Ac:II 0/ ~
..., b, fJUIdfd ,,~, fin ,..,.., /.,.,.",..",."" tIIUl ,.".,..
PROVIDED ALWAYS, NEVERTHELESS, ",. ifdtt Illi4I1lCBABL E. BROWN..
",CIIttJr'. ~,., or....... _.. ,1UJIl ". .. '"'" ptI1, or CIIIII' ", h pt1ltl ato IIu
~,." or 1IIIipI, * IIjoratlitl _61 or """ 0/ ONE BUNDRBD THOUSAND 00
"'rriaIJI/ore 1IHIttiD.. l1li4 ~ lor tIu ptI1IIHIIllMreof, ""ttlur witIt Icw/rIl ""."" for
1I/0reltli4, Iou., IIIIIIIidptIl """",."",l1li4 duIrpI, ill......" ill tIu 1N11111d IIItIIIIHr
or /tIrtMr _,., _ witItout _, ~ tltftIkttIiDII or IIIMtnwIt to H ..., lor or ill
1I'1aGt.JHHr', tIud dtm, -frina tIurtu fordl, . ",11 tIriI".,,,,, WaIIm. _ tIu "** 1ureb1
,1UIIl CItU', 4,tD'IIriII, l1li4 HCtIIIIf IIbItJIutIlJ """ tIIUl w1itJ 10 "" "'".. .. JIUIlIO''', -Jlldar,
ill -,..a'~, ,
IN WITNESS WHEREOF, dttltli4pt111U,o/dtejintptll1"""'''"."",uettlulr I 11114,1tIlI, dtt
writta. t'"
SIGNED, SEALED AND DELIVERED
IN THE PRESENCE OF
~~~
...
~~~
I do 1terel11 c,rtify tIult the prlcU, ,.,ritllflC' ad co"""',, JIOIt olflc, tIIItIru, 01 the ~ ..... M",.""." if:
10 Lyoru La,
Sltippelllhrr, PA 11251
-.
Juh 21. 1m
STArn OF PENNSYLVANIA :
:SS
.." JrdU A. Bnnm,
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IN WlTNESSWHBREOF, 1".., ItereIllllO HI., ".." """ o/lfdllllML
COMMONWEALm OF PENNSYLVANIA :
: SS
COUNTY OF FRANKLIN
:
RECORDED 011 thiI
. PII8'_,
"01
. A.D. 1m, ill * 1l6ctnf1er', or 011tli4 eo""", Monpp Book Vol.
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'Z'{ mat tIllS (JoouneIlt IS
1 herebY ~I!_---,-,s Office of
feC()Ided in U~ ~L"-
Franklin County, Pen11SYlvania.
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-~n_~n~_~~~n~~ ~nO.~._on .. r-
Vorton Financial Tools - Loan Calculationst
Based on a loan of $81,954.91.
At an interest rate of 6.75%, over a term of 10 year(s}.
With payments of $941.04, made monthly.!
Total cost of the loan: $112,924.80
~. oufY\
Interest Paid Princi I Balance I to Date
$461.00 ~9~~ $81,474.87o.~~t~
=~~ I =~:~ I=:~~:~i ~:~~:~
.._ns~_".~~_'-~_"..'I!. ~~. t9 ,[I . '~~..'.:.~~.~,..~~.J.':_~...I~I?~:1~.
~ ._' ~.~~~ ~ _ . .~!705~~Q
$447.34 ! $493.70 i $79033.84 i .~!~:~4
j!.~.~571.~~..~?J.ii~~~~7iil~1~?:~l!
:~:~,:',...,II."~ ,. r,5,",9.0.--.'.~."~.:..~~.'.".'Ii. .R~IQ~.!O II .JL~~8.32
~ _..... 'I?I~~~Q?' n.$!,~9.~
=:~I: .::~'!'Jj.::~~1 . .:$~~1~~
..=l-!~:ll..... EEf .:: !!~: :l~E
..S421.78l.'::W@:j74.463.ii:il..1824:39:::::i1411S:60
.~..',",::~::~t':...."...'..'.......:=:l~j..'...........:~~~~~:~~t-....:.....:~jj~~::lt "_'~.o"'.' :~'~=:=.'.
~..f412.97, .........._...f.528.;07+_.....$72.888.33 t-.....J$7.872.14,._.- $1~,938.72_
. =~:~: :....~:::::..-~~~~.tt -':.li~::~~:~:' ':.~~::":;7::.~:: :=."" :~~.:~:::-
.. .. $404.01. ......'. .. $537:03.. 0_ ... $71.286.22 ..._,.....1$9.093.15 ,,__~. $19.761.84
--....:....:=:::::.. _...:..::...im:=J.....:~~:i~~~. ...--...i:.=:~,....... ::=::~..
~~....~. $394.89.+...._..._.$546:~t"'..w . $69.656.92" _.._,." 10 286.97 ~tl...._$22,584.96..
..___. $391.82 .~.._ ...... $549.22_..,_.____.. $69.107.7Q.......... 10 678}9....... $23526.00 f..
$388.73 i $552.31 i $68 555.40 11061'.53 $24467;
...~." ~,~"$385.6~j' ~....$555~42I~...~$6I:999Ii( 11!453~-15.. --''''. :i25:40!.08 ".,
. .. $382.50 ~...$5~.54~tl..,.,...t8.1ML44..~ 11 ~:.es..$26,349.12.
.. $379:~ . ..~1.68...... $66,879.I~. ...._.... 12215:01.......$27,290.16
$376.20 $564.84 ! $66 314.92 12 591.21 $28231.20
." ""'$373.02 .~~~:Q~.t-:':'.j65J:46.~(L----"-~ 12 964.23, "'~:172:24 .'
,'0'__ $369.83$571.21..i .. ~$65175.68 13 334.05 ~.. $30113.28
$366.61~'$5l~~~it_~~"$64:601.26' .......... 1t7OO.6it~~~ '$31 :054.32.
.. ,..'=:~.~ ~..........'..:=:~ti~.~:' :~:~:... ;.,..... ~::::~:+:~...~~::~~:
=~j~~~1:i~t:..::~~r=: 1::;:::it= ::~':::
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Page 1
I~~C
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77 East King Street
P.O. Box 250
Shippensbmg, PA 1 nS7
IT IS HERERBY CERTIFIED THAT THE ABOVE NAMED DECEfJENT, ON 1",
ABOVE DATE, HAD THE FOLLOWING ACCOUNTS WITH ORRSTOWN BAN,
CHECKING ACCOUNT
Account # Title of Account
10320052 Emma K Lyons
Received TimdD_9c.20____ 1 :29PM
~- -,
\ -0 \ (I
HP LASER JET 3200
ORRSTOWNBANK
A Tradition of Excellence
December 20,2006
To: Weigle & Associates
Attorneys at Law
126 E. King Street
Shippensburg Pa 17257
From: Traci Shaffer
Orrstown Bank
Customer Service Center
PO BOX 250
Shippensburg,Pa17257
Re: Estate of Emma K Lyons
Date of Death October 16,2006
Date opened Princiole Accroed 10:
05-30-97 10530.09 2.66
103698652 Emma K Lyons
05-30-97 17294.58
SAVINGS ACCOUNT
Account # Title of Accmmt
Date o~ed Princinle
CERTIFICATE OFDEPOSrr
Account # Title of AccoWlt
Date Opened Princi'Dle
Accroed
. r Yr~~ 1-- '~,-
t<<lV 1 6 20~
Emma Lyons Individual Account Valuation 10/1612006 (5221-3773
INDIVIDUAL ACCOUNT
Description uslp ua tly Value
A8 GI Gov In Trust CL A 01853W105 4958.907 $ 37,489.33
Ameren Corp 23608102 19 $ 1,006.05
8ank Of America Corp 60505104 400 $ 21,484.00
Delaware Tax Free Inc. PA 8 233216100 9505.636 $ 76,710.48
Evergreen PA Tax Free 8 300326204 9084.307 $ 102,198.45
Goldman Sachs Hi Yld Mun 8 38142Y617 8882.44 $ 101,970.41
PPL Electric 4.40% PFD 69351 U202 20 $ 1,606.00 $ 9.64
VanKampen Hi Yld Muni FD CL A 92113R101 8171.247 $ 90,700.84
Allegheny PA 5% 11/112016 01728AU07 20000 $ 20,615.60 $ 458.33
Dover PA 6.25% 5/112012 260480A01 5000 $ 5,227.30 $ 143.23
Lehigh 5.375% 8/15/2033 524805Y69 15000 $ 15,620.10 $ 134.38
Pennsylvania St 5.0% 6/1512018 7091747P5 20000 $ 20,372.20 $ 333.34
Polaroid 7.25% 1/1512007 73109PA87 35000 $ 3.50
Union PA 6% 4/1/2007 9064608RO 25000 $ 25,028.50 $ 61.64
VK Penn IMIT SER 302S 70884G611 20 $ 18,585.80 $ 216.73
Penn INSD MUNS 275 S/A 70884F837 25 $ 24,054.75 $ 276.82
First Tr Insd PA 67M 3371M5148 51 $ 28,146.90 $ 2.17
Penn INSD 279 S/A 70884G157 50 $ 46,818.50 $ 554.55
VK PA INSD Muni 282 S/A 70884G215 25 $ 24,338.50 $ 148.27
VK PA INS Muni 286 S/A 70884G298 30 $ 28,380.30 $ 162.67
VK PA Insd Muni 287 M 70884G306 24 $ 22,500.24 $ 2.72
VK Insd Income TR 118 S 921168251 7 $ 6,441.54 $ 62.30
VK PA Insd Muni 288 S/A 70884G330 13 $ 12,275.51 $ 71.34
VK PA INSD Muni 290 M 70884G363 30 $ 29,814.90 $ 22.62
VK PA INSD Muni Inc 299M 70884G546 33 $ 30,913.41 $ 22.24
VK Penn IMIT 303 S 70884G637 12 $ 11,263.68 $ 65.30
VK Penn IMIT 304 M 70884G645 13 $ 12,429.95 $ 9.15
Penn Insd Mun Ser 184M 70884D691 25 $ 2,741.00 $ 12.50
PA INSD MUN INC TR 202M 70884E186 25 $ 6,903.12 $ 4.75
PA INSD MUN INC TR 203S 70884E210 40 $ 5,518.12 $ 77.65
PA INSD MUN INC TR 211M 70884E368 21 $ 2,983.97 $ 1.55
PA INS MUN TR 60 708838602 5 $ 598.40 $ 0.50
PENN INS MUN INC TR 271 70884F746 14 $ 13,663.30 $ 10.02
PENN INS MUN INC TR 281 70884G181 25 $ 24,659.50 $ 18.65
PENN INS MUN INC S 292 C 70884G405 35 $ 33,751.90 $ 25.48
VK PA IMIT 309 M 70884G744 25 $ 23,963.25 $ 17.70
PA IMIT 217 M 70884E483 25 $ 6,661.72 $ 5.30
PA IMIT 219M 70884E525 20 $ 823.76 $ 0.32
PA IMIT 218 S 70884E517 25 $ 4,746.10 $ 14.97
PA IMIT 220M 70884E541 15 $ 3,469.69 $ 2.37
PA IMIT 218 M 70884E509 20 $ 3,796.88 $ 3.28
PA IMIT 223 M 70884E608 20 $ 4,657.50 $ 3.56
PA IMIT 225 M 70884E640 15 $ 8,670.90 $ 7.05
PA IMIT 227M 70884E681 14 $ 7,985.68 $ 6.61
PA IMIT 228M 70884E707 14 $ 5,169.72 $ 5.24
PA IMIT 231M 70884E764 28 $ 27,883.24 $ 22.90
VK PENN INS MUN INC 256M 70884F449 15 $ 14,937.30 $ 11.07
PA INSD MUNS INC 268 S/A 70884F696 20 $ 19,605.60 $ 29.80
VK PA INSD MUN TR 283 70884G223 33 $ 32,303.37 $ 23.96
Total Securities Value 1,071,490.76
Money Market Value 9,114.75
Accrued Money Market Interest 14.98
Total Accrued Interest 3,077 .65
--I .. - -- .~--
Howa Lyons Trust
TRUST ACCOUNT
Description usip uan
ANC Rental Corp 001813104 25 $
Aqua America Inc. 03836W103 1500 $ 35,415.00
Bank Of America Corp 60505104 800 $ 42,968.00
BlackRock All Cap Global A 091937334 1826.15 $ 26,095.68
Blackrock Fds Inti Opp A 091929307 637.943 $ 26,851.02
Bucyrus Intemationallnc. 118759109 500 $ 25,005.00
Dentsply Inc 249030107 700 $ 22,547.00
Geneva Steel Hlds Corp 372257105 219 $ 1.53
Pengrowth Energy Trust A 706902509 1500 $ 29,250.00
Procter Gamble Co 742718109 500 $ 31,025.00
Tellabs Inc. 879664100 1000 $ 10,840.00
Wells Fargo Company 949746101 700 $ 25,340.00
CWHL 03-J9 5.5% 10/25/2033 12669E3M6 25000 $ 23,342.00 $ 75.34
CWHL 03-J7 2A7 5% 8/25/2033 12669EXM3 20000 $ 17,734.40 $ 47.22
FHR 2649 PC 5.5% 7/15/2033 31394GJ87 25000 $ 23,791.00 $ 3.82
FHR 2818 JP 5.5% 6/15/2034 31395AAK1 25000 $ 18,268.85 $ 2.75
FHR 3110 DD 5.5% 7/15/2035 31396HM55 30000 $ 29,044.50 $ 4.58
FNR 03-9 EB 5% 2/25/2018 31392HB69 5000 $ 4,737.75 $ 13.89
FT unit 578 UTL GR 30266T318 1762 $ 19,981.08 $ 11.63
Penn Insd UT 273 M 70884F787 12 $ 11,500.56 $ 8.38
VK PA INSD Muni 287 S 70884G314 15 $ 14,062.65 $ 21.25
VK INSD MUNI 490 CASH M 45809T542 28 $ 27,396.60 $ 21.11
PENN INSD MUNS UNIT 264 70884F605 11 $ 11,189.09 $ 8.34
PENN INSD MUN INCM 258 M 70884F480 25 $ 25,536.50 $ 19.45
VK PA INSD MUN TR 283M 70884G223 25 $ 24,472.25 $ 18.15
VK PA INSD MUNI 289M 70884G348 29 $ 28,362.00 $ 21.17
Total Securities Value
Money Market Value
Accrued Money Market Interest
Total Accrued Interest
1"--
.E:SiG.t:.JhsAeJ.. .y;.LlJr F 0 c-fY)M~ Ll/tltJ$
~cr T'D t:L 2 3 - 7 g 9 7 3 L) f
~ST'WILL AND TEST~.
I ~ARD W. LY~ of Shippensburg Township, Cumberland Coun y, Pennsylvania,
being of sound mind, memory and disposition, do hereby make, publish and declare this
my Last Will and Testament, hereby revoking and making void all wi 1s by me at any
time heretofore made.
FIRST.
I order and direct the payment of all my just debts and fu era1 expenses as
soon as may be convenient after my decease.
SECOND .
I give my tangible personal property, together with po1i ies of insurance
thereon, to my wife, EMMA K. LYONS, if she survives me for a peri d of thirty (30)
days. My tangible personal property sha11 include, but not be limit d to: household
goods, personal effects, and personal automobiles; but shall not include: cash,
securities or similar assets. In the eve1?:~.:. my wife, Emma K. Lyons, does not survive
me by thirty (30) days, I give said tangible personal property to my children, namely
GERALD S. LYONS and LINDA JEAN YOUNG, or to such of them as survive both my wife and
me, in approximately equal shares as they may determine.
THIRD.
If my wife, Emma K. Lyons, survives me for a period of th rty (30) days, I
give to my children, GERALD S. LYONS and LINDA JEAN YOUNG, to hold I TRUST as
FUND A
such amount, if any, as when added to other property included in my gross estate for
Federal estate tax purposes and not qualifying for the marit
or charitable
deduction, which property passes under prior provisions of this ill or otherwise
than under this Will or is paid directly to the Trustees and a110ca ed by them to
(SEAL)
'" -",.,.-,,.--- ~'-'~~~"\V'i~Sh;~'!";.---"-'7"'--'''''-:- ,,--'~
this Fund A, will produce a Federal estate tax in my estate, prior t the use of such
credits, equal to the total of the available unified credit and the credit for state
death taxes (other than those imposed solely to obtain the credit nder Section 201
of the Internal Revenue Code). This amount shall be computed prior to the payment of
death taxes and may be sat~sfied with cash or with assets in kin at their market
value on the date of distribution. Any property in my taxable estat which would not
qualify for the marital deductions shall be allocated to this Fund A, even if, as a
result, it is overfunded. If any assets passing under this Will or paid directly to
the Trustees are not included in my gross estate for Federal estat tax purposes, I
give the same, or direct the Trustees to allocate the same, to Fund ,in addition to
the amount hereinbefore specified. If no amount is held trust during my
wife's lifetime, nevertheless the trust shall be considered as bein in existence for
the purpose of receiving funds at my wife's death. Said Fund A hall be held, IN
".. ....
TRUST, for the following purposes:
A. To pay the net income therefrom to my wife, EMMA K. LYONS, for her life in
such periodic installments as my trustees shall find c nvenient, but at
least as often as quarter-annually;
B. As much of the principal of this trust as my trustees may from time to time
think advisable for the support and maintenance of my wif to maintain her
in the station of life to which she is accustomed at my death, and after____
taking into consideration her other readily available and sources of income
shall be either paid to her or else be applied directly or her benefit by
my trustees;
(SEAL)
-2-
C. My trustees may apply the net income of this trust for t e s~pport of my
wif e , EMMA K . LYONS, should she by reason of age, or any other
cause in the opinion of my trustees be incapable of disbur
D. In addition to the above provisions>> my wife, Emma K. Lyon, shall have the
power to direct the trustees to pay to her or to apply out of principal in
each year including the year of my death and the year fher death an
amount not in excess of the greater of $5,000.00 or 5% of the
then-aggregate value of the trust principal. This power is noncumulative
and can be exercised only by an instrument in writing ntended to take
effect during her life, signed by my wife, Emma K. Lyons, and delivered to
E.
my trustees;
Upon the death of my wife, Emma K. Lyons, or upon
death if she
predeceases me, this trust shall terminate and the then-re ining principal
and any accumulated or undistributed income shall be distr buted equally to
my children on a per stirpes di~tribution basis.
FOURTH .
I give, devise and bequeath all of the rest and residue of my estate, real,
personal and mixed, whatsoever and wheresoever situate to my wife, EMMA K. LYONS,
which is to be known as
FUND B
under this my Last Will and Testament. In the
Lyons, should predecease me, I then direct that all of' the rest
estate be distributed as follows:
1. To my son, GERALD S. LYONS, I give all my real property locate in Shippensburg
Township, Cumberland County, Pennsylvania, known as 10 and 20
Shippensburg, Pennsylvania, upon which is my
residence of my said son, Gerald S. Lyons;
wife, Emma K.
residue of my
Lane,
current home
(SEAL)
-3-
, --
2. To my daughter~ LINDA JEAN YOUNG~ I give and bequeath the sum 0 ONE HUNDRED
FIFTY THOUSAND DOLLARS ($150~OOO.OO);
3. The rest and residue of my estate shall be divided and distribu ed equally to my
children~ Gerald and Linda, on a per stLrpes distribution basis.
FIFTH. The share of any person who shall not have attained the ge of twenty-one
(21) years shall be held IN TRUST in a separate trust to be administered and
distributed in accordance with the provisions hereinafter set forth:
A. My trustees shall distribute so much of the net
trust to or for the benefit of such person as my trust
discretion shall deem advisable for the support, educat
such person and for the protection and preservation of hi
Any income not so distributed sha~l be accumulated~ inve
and distributed as part of the p~~ncipal;
Upon the death of any person, hLs or her trust shall erminate and the
then-remaining principal shall be distributed per stirp s to his or her
then-living issue, or if there shall be no such issue 0 my then-living
principal of the
in their sole
and health of
or her property.
administered
B.
issue per stirpes;
C. This trust shall terminate upon the beneficiary's rea hing the age of
twenty-one (21) years, and the trustees shall distribute all principal and
any accumulated income at that time;
D.
I hereby nominate~ constitute and appoint my children,
to be the Trustee for any trust created under this FIFTH
r either of them,
aragraph.
SIXTH. Any fiduciary, including my personal representatives a d Trustees ~ under
this Will shall have the following powers in addition to those vest d in them by law
-4-
(SEAL)
1 ~..
and by other provisions of my will applicable to all property, whe her principal or
income, including property held for minors, exercisable without Co rt approval, and
effective until actual distribution of all property:
principle of diversification of risK;
ersona1, without
A.
To retain any and all of the assets of my estate, real
regard to any principle of diversif~cation of risk;
B.
To invest in all fbrms of property, including stock,
trust funds and
mortgage inve'stment funds without restriction to inv'estme ts authorized for
Pennsylvania fiduciaries, as they deem proper,
regard to any
c. To sell at public or private sale, to exchange or to lea e, for any period
of time, any real or personal property, and to give optio s for sales,
exchanges or leases, for such prices and upon such terms or conditions as
they deem proper;
D.
To allocate receipts and expenses to principal or income or partly to each
'. ....
as they from time to time think proper;
E. To compromise any claim or controversy;
F. To distribute in cash or in kind or partly each:
G. To hold property in their names without designation of any fiduciary
capacity or in the name of a nominee or unregistered.
SEVENTH. The principal of any and all trusts created under this W 11, and the income
her, nor to attachment or execution under any legal, equitable 0 other process for
agements of those
therefrom, shall be free from the debts, liabilities, and
beneficially interested therein, and shall not be subject to ignment by him or
the enforcement of judgments or claims of any sort against them, ither individually
or collectively.
-5-
(SEAL)
r.
EIGHTH.
All federal. state and other death taxes payable because of my death. with
respect to the property forming my gross estate for tax purposes. whether or not
passing under this Will. including any interest or penalty imposed connection with
such taxes. shall be considered- a part of the expense of administr ion of my estate
and shall be paid out of Fund B without apportionment or right of r All
such taxes on present or future interest shall be paid at such t e or times as my
executor or my trustee may think proper regardless of whether taxes are then
due; provided that any postponed taxes on future interests in the esiduary trust
shall be charged against the principal of the particular share wit respect to which
the taxes are imposed.
NINTH. I appoint my wife. EMMA K. LYONS. as Executrix of this my will. Should my
wife predecease me. fail to qualify or cease to act. I appoint my s n. GERALD S.
LYONS. and my daughter. LINDA JEAN YOUNG...JlS Co-Executors of this my t.ast Will and
Testament.
TENTH.
No bond shall be required of any fiduciary hereunder in an jurisdiction.
IN WITNESS WHEREOF. I. HOWARD W. LYONS. have hereunto set m hand and seal to
this my Last Will and Testament. written on six pages. the first five pages signed
for identification only. this J-.~ day of ~~ . 1994.
. -6-
( SEAL)
"-'.~~,.........-"",~~.~
. I
This instrument was by the Testator, HOWARD W. LYONS, on he date hereof,-
signed, published and declared by him to be his Last Will and T stament, in our
of each otheT,
presence, who at his request and in his presence and in
we, believing him to be of sound and disposing mind and memor , have hereunto
subscribed our names as witnesses.
~(fi-
. . '
.AJO~ ~ (1~
I
". ....
.'-"""---~-~"T'-'.~P"'-'-""'."","":,,,",,' ~':',-.-_::'. -.--,~~..,..~~..,...,........-,,",,~.
, .~-
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF CUMBERLAND
I, HOWARD W. LYONS, the Testator whose name is signed
f~cv
foregoing
instrument, having been duly qualified according to .law, do hereby
signed and executed the instrument as my Last Will; that I signed t willingly; and
that I signed it as my free and voluntary act for the purposes
Sworn or affirmed to and acknowledged
before me by HOWARD W. LYONS, the Testator,
this 2.)Jo day of S~'{)t(.... '0......- ,1994.
Notarial Seal
..... L Holtry, NotIry PuIIIc
SIIIppeRbu.... PA Cumberlii.~ County
CaaunIssiOn Ex M 1995
'.. ....
r~'~
. "'~-. ..-'~,c"'''-'''VO".4l'
"'~"""""-'''''''l~~~_L~II,lll1!!~~,~)1.~~~!.tW'I_~~~Ji!,~~.j.J.JmJIII!.~.~IMtll~. ,- .'
!
COMMONWEALTH OF PENNSYLVANIA
We,
<(,1:tOMS k. (bgj~btT
and
being duly
SSe
COUNTY OF CUMBERLAND
the witnesses whose names are signed to the foregoing
I
I
qualified according to law, do depose and say that we were present ,nd saw Testator,
!
I
HOWARD W. LYONS, sign and execute the instrument as his Last Will;! that he signed
willingly and that he executed it as his free and voluntary act Ifor the purposes
therein expressed; that each of us in the hearing and sight of th, Testator signed
I
I
the will as witnesses; and that to the best of our knowledge the Te~tator was at the
time eighteen (18) or more years of age and
of sound mind and under no constraint or undue influence.
". ....
Sworn or affirmed
before me b .
and
witnesses, this Y of
<E;<?-f+eJ-I1\'~V" ' 1994.
~lv PI',{j j cM'horJ
P' .
Notarial Seal
Rebecca l. Holtry, NoIIiy Pubic
Shlppenbufl, PA Cumberla.;~ rAIunty
Cotnmlssian& 29 1995
,
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p~
Emma Lyons IRA Account Valuation 10/16/2006 (5221-3771)
IRA ACCOUNT
Description
Bank of America Corp
Pengrowth Energy Trust A
Wells Fargo Company
Crown Paper 11% 09/0112005
FHR 3029 KK 5% 10/15/34
Total Securities Value
Money Market Value
Accrued Money Market Interest
Total Accrued Interest
'I' , DEC-0'?'-06
-
.
09:~~ PM
---
'?'1'?'264144~
-
p.e1
SHETTER. TERRY
Terry L. s'het;te,y
Auct'Wf\.e(W/Appr~Serv~
365 Musser Road, Shippensburg, P A 17257
717 -264-3885
Appraisal ''()r: The Estate of Emma Lyons
Date: J 2~04-06
rn';MS
APPRAISAL VALliE
Fl.u'.;.r:
Drysink
Ilall rack
Gnludfhlhcr"!; clock
Clo~t or dishes
550.00
$35.00
$250.00
$50.00
Kiy'lhm:
OE sidc-hy~side refrigerator
Electric oven
Sml'llI arplianecs (pots, pan. etc)
5125.00
$30.00
$25.00
Uini~ Room:
Tahle & 8 chain
Maple hutch
2 end ~land
S i I vcrwaro
Wafolhcr & dryer
585.00
$135.00
545.00
$40.00
$55.00
l.jvill~ Room:
Orglln
2 l<lltJfT~-d sofas
4 slulTcd chairs
Marhlc stand
(~()llcc ,"ble &. end stands
Slanl front desk
$150.00
$50.00
$25.00
$85.00
$65.00
550.00
M~~l~ Bedroom:
King si~cd bedroom suite
I ,am ps
ReA TV
3 recliners
Grandmother's clock
S800.00
$25.00
535.00
$ 175.00
5200.00
Received Time Dec. 7. 7:36PM
-06 09:55 PM SHETTER. TERRY
211~!~cdroom:
Blonde king 8i~ed bedroom suite
(J,...tI\dfalh~r's clock
Mar\lc chest
ReA TV
J..rQ., J ~r:9.Q..I1l:
King !:Ii~.ed bed. dresser & night stand
TV & VCR
Marhlc stand
Den in upstairs 1byer:
Elcdric chair
!took ca.~c
SCYi ing machine
Den .Y.Q!!.tairs:
I.uzy Boy
Walnut smull table
TOTAL:
^I~PRAISAL FEE: $100.00
-0&
() \1..-\ t.
\~ ~ totO
C~ 00
~~
Received Time Dec. 7. 7:36PM
....,-~~~
7172641445
$150.00
$250.00
$35.00
$35;00
$250.00
$20.00
$45.00
$10.00
$45.00
$10.00
$75.00
$75.00
53',585.00
-~
P.02
,. - "~.''''''''''''''''''.'''':",,".''
712-
. .v. May ZOOO)
~partment of the Treasury
Inlemal Revenue Service
Decedent-Insured (To Be Filed by the executor with Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, or Form 706-NA.
United States Estate and Generation-Ski in Transfer Tax Return, Estate of nonresident not a citizen of the United States.
'Decedent's first name and middle initial 2 Decedent's last name 3 Decedent's social security 4 Date of death
Emma K Lyons number (if known) 10116/2006
196-38-7712
Life Insurance Statement
OMS No. 1545-0022
6
8
Name and address of insurance company AXA EQUITABLE
PO BOX 1047. CHARLOTTE, NC 28201-1047
Type of policy Incentive Life 99 7 Policy number 150 209 264
, Owner's name. If decedent is not owner, 9 Date issued 10 Assignor's name. Attach copy 11
attach copy of application. 12/28/1999 of assignment.
Frontier Trust Company
Date assigned
5
12 Value of the policy at the
time of assignment
13 Amount of premium (see
instructions)
$108,050.00 Annual
14 Name of beneficiaries
Emma K Lyons Irrevocable Trust Dated 1212811999
15 Face amount of policy
16' 'Indemnity benefits. .
17 Additional insurance. .
18 Other benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19 Principal of any indebtedness to the company that is deductible in determining net proceeds
20 Interest on indebtedness (line 19) accrued to 9ate of death. . . . . . . . . . . . . . . . . . . . . .
21 Amount of accumulated dividends.
22 Amount of post-mortem dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
23 . .."f-mount of returned premium. . . . . . . . . . . . . . . . . . . . . '. . . . . . . . . . . . . . . . .
24:A.mpuntof proceeds if payable in one sum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25 ",;V~16eof proceeds as of date of death (if not payable in one sum). . . . . . . . . . . . . . . . . . . . .
26' P6licy provisions conceming' deferred payments or installments.
N~te: If other than lump-sum settlement is authorized for a surviving spouse, attach a copy of the insurance policy.
$1.000,000.00
0.00
0.00
0.00
0.00
,0.00
0.00
0.00
0.00
$1,000,000.00,
0.00
29 A~o.unt applied by the insurance company as a single premium representing the purch~se of
installment benefits 0.00
30 ,,' . s.~si~.(mortality table and rate of interest} used by insurer in valuing installment benefits: 0.00
31 Were there any transfers of the policy within the three years prior to the death of the decedent?
27. Amount of installments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28 Date, of birth, sex, and name of any person the duration of whose life may measure the number of payments.
DYes [8J No
3~ Date of assignment or transfer: Month
33 Was the insured the annuitant or beneficiary of any annuity contract issued by the company? 0 ~es [8J No
.j.
34 =r~~""""""''''''"'"'f''' 00 """"'... but"'" """"" by~""",," ~_cf~ y!" _ 0 No
35 Names df companies with which decedent caTied ~ poIJs and amount of such policies if this information is disclosed by your records. '
. ! '
The undersi&red offlCerp{the ay/ove-named insurance company\hereby certifies that this statement sets forth true and correct information.
,f~~;;ure \ L.,/ / .: i~ T.'ltle Vice President . Date of Certification November 16, 2006,
'. ,In:str~~.9.ns.l ~l:// l' .I i'l {,... . You are not required to provide the information requested on a form that is subjecllo
, State~~!'1t pf .rsurer _ .' stlJl8menf mdsf~de. on behalf. of the insurance the Paperwork Reduction Act unless the form displays a valid OM~ control number. .
cOll)PliIny that sued the Icy, by an officer of the company haVing ~ss to the Books or records relating to a form or Its Instructions must be retained as lo.ng as their
recdtds of the mpany For purposes of this sistement. a facsimile signature may be contents may become material in the administration of any Intemal Revenue law.
used in lieu of manual signature and if used, shall be binding as a maniilal signature. Generally, tax returns and retum Information are confidential. as required by section
Seperatesta ents - File a separate Form 712 for each polley. // 6103.
Line, 1.3 _ Re on line 13 the an~~al.pre,!'!ip!!',,1!9J.t/:l!3.cumulative pretnlum to'date of The time needed to complete and file this form will vary depending on individual
death. If death 5m!fthlfena of the premium period. report the last annual circumstanceS. The estimated average time is: Recordkeeplng. 18 hours. 11
premium. minutes: Learning about the form. 6 minutes; Preparing the tonTi. 23 minutes.
Paperwork Reduction Act Notice _ We ask for the Information on this form to carry If you have comments concerning the accuracy of these time estimates or
out the Internal Revenue laws of the United States. You are required to give us the suggestions for making this form simpler, we would be happy to, hear from ,you. See
inf6rl!1ation. We need It to ensure that you are complying with these la~ and to allow the instructions for the tax retum with which this form is filed. DO NOT'saM the 'lax
us tli figure and collect the right amount of tax. form to that office. Instead. return It to the executor or representative who requested,
, L
712.1 Cal.No,1017V Form712(Rev.5-2000}
Day _ Year..:...-
.11
Contract Information Report: Contract # 150209264
Qtl!MTCOPY
Client Information
Frontier Trust Company
C/O TRUST ADMINISTRATOR
FRONTIER TRUST COMPANY, PO BOX
10699 1126 WESTRAC DRIVE, FARGO NO
58106
Insured
Insured Dete rI Birth
Insured Designation
Emma K Lyons
07102/1919
FEMALE. STANDARD NON TOBACCO
GenM"allnformation
Product
Issuing Company
Register Dale
status
INCENTIVE LIFE
AXA EQUITABLE LIFE INSURANCE COMPANY
12128/1999
PREMIUM PAYING POLICY
Death Benefit Infol'llllltion
Death Benefit Option
CUnent FIICll Amount rI Base Policy
CUnent Death Benefit
Less Total Loan Balance
Net Death Benefit
A-8<.CLUDES ACCT VALUE
$1,000,000.00
$1,000,000.00
$0.00
$1,000,000.00
Pl'IlIIIium Information
Billing Amount
Mode
Billing Type
Pl8IIlium BiIed to Date
Last Pl8IIlium Amount
Last Pl8IIllum Paid Date
Total Gross Pl8IIliums Paid
Total Gross Pl8IIliums Paid YTD
Total Net Partial WIthdrawals
Last Monthly Deduction Amount
$60,000.00
ANNUAL
DIRECT PAY
1212812006
$60,000.00
0211512006
$420,000.00
$60,000.00
$0.00
$3,798.58
Fealull!S
LIVING BENEFIT RIDER
Guideline Premium IlIfornI8IIion
Guideline Single Premium
Payment amount that will not exceed the
Guideline Premium Limit
CUnent Guiderme Annual Premium
Guideline Limit
Prior Years GuldeUne Annual Premium
Total Paid Under The Guideline Limit
$692,699.84
$508,757.14
$132.679.58
$928,757.14
$796,077.56
$420,000.00
Date Printed: 1011712006
Requested by JOEL WOLFROM
B_ficlarv and Other Names
Beneficiary
EMMA K LYONS IRREV TRUST12128199
Policv Values
Values as rI
Policy Account Value
Surrender Charge
Cash Sunender Value
Less Total Loan Balance
Net Cash Surrender Value
Declared GIO Intereet Rate
Laan Val..-.
Values as of
Loan Interest Rate
Interest Rate Crecliled
Modified Endowment Information
Modiflecl Endowment status
Payment amount that will not result In a
modifiecl endowment contract
JOEL R WOLFROfVl ClU ChFC
WOLFROM fiNANCIAL SERVICES
430 MAG KENZIE DR. STE- A
WEST CHESTER, PA 1935G-381e
R10-431-8900
1011612006
$162.281.97
$12,958.80
$149,323.17
$0.00
$149,323.17
4.100%
1011612006
5.000%
4.000%
NOT A MEC
SEe NOTE
Page 1 of 2
k~,f l .',
~ 'I.",.. \ ' .
MAR
7 ?ODO
IRREVOCABLE TRUST AGREEMENT
AGREEMENT dated as of the 28th day December, 1999, by and between EMMA K. LYONS, residing at 10
Lyons Lane, Shippensburg, Pennsylvania 17257 (the "Grantor"), and Frontier Trust Company (the "Trustee"), a
trust company organized under the laws of the State of North Dakota and a wholly-owned subsidiary of The
Equitable Life Assurance Society of the United States ("Equitable"), with offices at 1126 Westrac Drive, Fargo,
North Dakota 58103.
WHEREAS, it is the desire of the Grantor to provide funds for the benefit of certain beneficiaries under this
Agreement (the "Beneficiaries") in the proportions set forth in Exhibit A hereto, and (2) to contribute funds for
such purpose during the Grantor's lifetime to the extent the Grantor is reasonably able to do so.
NOW, THEREFORE, the parties agree as follows:
TRUST PROPERTY
Article 1. (a) The Grantor may at any time or from time to time, with the approval of the Trustee,
either directly or indirectly, make contributions to the Trustee of money or insurance policies on the life of the
Grantor (as described in paragraph (b) below) to be held, managed, invested, reinvested and dealt with by the
Trustee subject to the terms and conditions of this Agreement. (All such assets together with the income,
investment returns and proceeds thereof from time to time subject to this Agreement shall be referred to herein as
the "Trust" or the "Property".)
(b) Any insurance policy contributed to the Trust pursuant to paragraph (a) of this Article lor purchased
by the Trustee pursuant to Article 2 of this Agreement ("Insurance Policies" or "Policies") shall provide for the
payment of the proceeds thereof (the "Proceeds") upon the death of the Grantor.
INVESTMENTS
Article 2. (a) Subject to the further provisions of this Article 2, Trust assets may be invested in such
savings or other bank accounts or in such other interest-bearing or other marketable securities, governmental or
other, or in such other investments, including such investments made available by or through Equitable or any of
its affIliates, as the Trustee in its sole and absolute discretion may determine. Any such investment may be in
accounts, instruments, certificates or securities issued by the Trustee or affIliates of the Trustee and the Trustee
shall not be responsible for any failure to earn interest or other consequences caused by reason of (i) delays in
depositing or clearing funds, (ii) delays in investing funds or (iii) any losses, penalties or other matters arising out
of any investment of funds or any withdrawal from an investment comprising part or all the assets of the Trust.
(b) Without limiting the generality of the preceding paragraph (a), the Trustee may invest and hold the
assets comprising the Trust in Insurance Policies. The Trustee or the Grantor, if the Grantor is contributing such
Policy or Policies, shall designate the Trustee as the sole owner and beneficiary of any such Policy or Policies,
shall direct the insurer issuing such Policy or Policies to pay the Proceeds in a lump sum to the Trustee, and shall
deliver such Policies or cause such Policies to be delivered to and held by the Trustee directly. Such Policies
shall become part of the Trust and shall be subject to all of the terms and conditions of this Agreement.
(c) If variable or universal life insurance policies are included in the Trust, then the individual named in
Exhibit B ("Named Individual") shall have authority to drrect the Trustee from time to time as to which market
value accounts, and in what proportions, the assets supponing such Policy or Policies shall be invested. If no
such direction is received, the Trustee shall elect that all the assets supponing such Policy or Policies shall be
invested in a money market or similar account.
(d) The Trustee shall have no duty or obligation to respond to communications relating to any securities
supponing the Policies in the Trust. Such communications, including proxy statements, shall be promptly
transmitted to the Named Individual indicated in Exhibit B who shall take, or direct the Trustee to take, whatever
action may be required with respect thereto.
,~
.
(e) The Trustee shall prepare, file and distribute, at the expense of the Trust, all necessary tax returns,
forms and informational materials which may be necessary on behalf of the Trust and shall payor discharge all
taxes, assessments or other charges or liens or encumbrances of any kind, (other than income taxes imposed upon
the Trustee based on the amount of fees received by it as compensation for the services provided by it under this
Agreement) imposed upon, or levied or assessed against, the Trust. All such payments shall be made out of Trust
assets and, to the extent such assets may be insufficient, then they shall be paid by the Grantor (or his or her
estate) or by the Beneficiaries, to the extent they have received distributions from the Trust.
DISTRIBUTIONS
Article 3. The Trustee shall distribute the income and the principal comprising the Trust as follows:
(a) During the lifetime of the Grantor, the Trustee shall apply all contributions of money to the Trust
pursuant to Article 1 and the net income of the Trust to pay premiums on any Insurance Policies held in the Trust
and shall pay over to the Beneficiaries then living, in proportion to their income interests in the Trust set forth in
Exhibit A, the balance of the net income of the Trust not used to pay such premiums in such periodic installments,
not less frequently than annually, as the Trustee, in its sole and absolute discretion, may determine.
(b) Upon the death of the Grantor, the Trustee shall, as soon as practicable, collect the assets comprising
the Trust and pay the same over to the Beneficiaries as provided in paragraphs (d), (e), and (t) of Article 5
hereof.
(c) Subject only to the provisions of paragraphs (a), (b), (d) and (e) of this Article 3:
(i) If assets of any kind are at any time received by the Trustee from any source other than the
Grantor, the Trustee is authorized, in its sole and absolute discretion, (A) to hold and continue to
hold such assets in the form in which received for such period or periods of time as the Trustee
shall determine, whether or not the same shall be authorized by law for the investment of trust
funds and whether or not the same shall be income yielding; or (B) to distribute such assets, in
kind or in cash, to the Beneficiaries then living in proportion to their interests in the Trust.
(ii) For all purposes of this Agreement, the Trustee in its sole and absolute discretion and
without prior authority from any court shall apportion between principal and income all money
and other property received or accrued by the Trust from any source whatsoever.
(d) Dividends, if any, on Insurance Policies comprising part of the Trust shall not be considered to be
income of the Trust, but shall be treated as principal. Such dividends shall be applied to reduce future premiums
or to purchase additional paid-up.~urance on the life of the Grantor.
(e)(i) As used in this paragraph (e), the term "Donor" means a person who shall make, either directly or
indirectly, a contribution to the Trust constituting a gift (a "gift") within the meaning of Chapter 12 of the Internal
. Revenue Code of 1986, as amended, or such other statutory provision which from time to time shall correspond
thereto (the "Code"). A "Beneficiary's Percentage" means such Beneficiary's percentage interest in the income of
the Trust as of the date on which such interest is required to be determined, as set forth in Exhibit A.
(ii) The Trustee shall, as soon as reasonably practicable after receipt of any gift, notify in writing (at the
last known address) each then living Beneficiary of the receipt of such gift and of such Beneficiary's right to
withdraw such gift in substantially the form set forth in Exhibit C. Each Beneficiary shall have the unrestricted
right, for a period of thirty (30) days after the mailing of such notice, to withdraw from the Trust by demanding
in writing immediate payment from the Trust of an amount not to exceed the lesser of: (A) a percentage of the
value of such gift equal to such Beneficiary's Percontage; and (B) an amount equal to (aa) the amount specified in
Section 2503(b) of the Code, or such amount multiplied by the number two (2) if a spouse has consented to such
gift pursuant to Section 2513 of the Code, less (bb) the aggregate value of all property previously given to or for
the benefit of such Beneficiary by such Donor and all property so given by such Donor's spouse if such spouse has
consented to such gift, but only to the extent such property so given qualified for the gift tax exclusion allowed
under Section 2503(b) of the Code. Such right of withdrawal shall not be cumulative and, if not exercised during
the period hereinabove provided, shall lapse at the end of such period. For purposes hereof the value of any
Policies contributed to the Trust shall be the value thereof on the date such Policies are received by the Trustee
determined in accordance with Section 2512 of the Code. UpOn a Beneficiary's death prior to the death of the
Grantor, such Beneficiary shall have the power to appoint by will the disposition of a percentage of all the then
principal and income of the Trust equal to such Beneficiary's Percentage; provided, however, that such
Beneficiary's will shall make express reference to this power of appointment; and provided, further, however, that
such power of appointment shall not be exercisable to any extent whatsoever in favor of the Beneficiary, the
Beneficiary's estate, the Beneficiary's creditors or the creditors of the Beneficiary's estate.
INSURANCE POLICY PREMIUMS
Article 4. In the event the Trustee has or acquires one or more Insurance Policies, the Trustee shall, to
the extent funds are available (or may be obtained by taking policy loans), pay premiums on all such Insurance
Policies held as part of the Trust as such premiums shall become due within thirty (30) days after the due dates.
In the event Trust assets are insufficient to pay the premiums on any Insurance Policy, the Trustee, in its sole and
absolute discretion, may reduce the face amount or otherwise modify such Policy or may replace such Policy with
a new Insurance Policy. The Trustee shall notify the Grantor and the Beneficiaries before any such modification
or replacement occurs. Notwithstanding the foregoing, the Trustee shall have no obligation (i) to make any
premium payments or to maintain in force any of the Insurance Policies in the event Trust assets are insufficient to
pay the premiums thereon, (ii) to notify the Grantor or any other person of any such insufficiency or of the
pending or actual lapse of any Policy or (iii) to take any other action in connection with such insufficiency.
ADMINISTRATION OF TRUST FOLLOWING DEATH OF GRANTOR
Article 5. (a) Upon the death of the Grantor, the Trustee shall, upon receipt of a certified copy of a
death certificate stating that the Grantor is deceased, collect the Proceeds, if any, of any Insurance Policies held as
part of the Trust and hold and invest any such Proceeds together with the other assets of the Trust pending
distribution as provided below.
(b) The Trustee may invest and reinvest the Proceeds of any Insurance Policies in such investments as
are permitted in paragraph (a) of Article 2 of this Agreement. Interest or other earnings, or losses or penalties, on
investments shall be for the account of, and shall be apportioned among the Beneficiaries in accordance with their
interests in the principal of the Trust.
(c) In addition, the Trustee may, but shall not be required to, lend to the Personal Representative,
Executor or Administrator of the estate of the Grantor, for the use of the Grantor's estate, Trust assets in such
amounts and on such terms and conditions (which may but need not include consents from the Beneficiaries in
substantially the form attached hereto as Exhibit D2, to such loan or loans) as the trustee may determine, provided
that any such loan shall be evidenced by a secured promissory note in substantially the form attached as Exhibit E
hereto and as follows:
(i) such promissory note(s) shall be payable over a two-year period in monthly installments and
bearing interest at a fixed rate equal to the prime rate publicly announced by The Morgan Guaranty Trust
Company of New York in New York City or its successor (or a similar institution selected by the Trustee) as its
prime rate on the date of issue of such note(s); the Grantor's Representative shall pledge to the Trustee, in any
manner reasonably satisfactory to the Trustee, as security for the repayment of such note(s) assets of the Grantor's
estate certified by the Representative to have a value at least equal to the amount of the loan at the time the loan is
made; provided, however, that the Trustee may, in its sole and absolute discretion, release from time to time part
or all of such assets upon the request of the Representative to permit it to manage and settle the Grantor's estate;
and
(ii) the pledge of the assets of the Grantor's estate shaIl be evidenced by such security agreements,
mortgages, fmancing statements and other evidence as the Trustee, in its sole and absolute discretion, may
require.
The Trust's expenses in any such loan transaction (including the Trustee's expenses, which shall be
chargeable to the Trust) shaIl be paid or reimbursed to the Trust by the Representative from the assets of the
Grantor's estate.
(d) Subject to paragraph (c) above, as soon as reasonably practicable after the death of the Grantor, the
Trustee shall collect and distribute the net assets then comprising the Trust (after payment of or provision for any
taxes and expenses due from the Trust, the Trustee's fees and reimbursement to the Trustee for its expenses and
disbursements in administering the Trust) to the Beneficiaries living at the death of the Grantor in proportion to
their interests in the principal of the Trust as specified in Exhibit A.
(e) Distributions may take the form of cash, notes of the Representative or other assets then comprising
part of the Trust as the Trustee may determine in its sole discretion. The Trustee shall not be required to make
any distribution to a Beneficiary until payment has been made of any taxes and expenses due from the Trust, the
Trustee's fees and reimbursement to the Trustee for its expenses and disbursements in administering the Trust, or
until provision for such payment has been made to the satisfaction of the Trustee.
(f) The Trustee shall render to the Beneficiaries a final accounting of its administration of the Trust.
Upon receipt of acceptable releases from the Beneficiaries (in substantially the form attached as Exhibit F hereto
or any other acceptable form) the Trustee shall then distribute to the Beneficiaries their shares of the principal of
the Trust. The Trustee shall thereupon be released from any further liability or obligation to such Beneficiaries
and this Agreement (except for Article 9) shall terminate.
(g) If no Beneficiary with an interest in the principal of the Trust pursuant to Exhibit A is living at the
death of the Grantor, then, upon such death, the Trustee shall distribute the Trust to Susan Lyons, 20 Lyons Lane,
Shippensburg, P A 17257.
DUTIES OF TRUSTEE
Article 6. (a) The duties of the Trustee are to receive, hold, administer, invest, reinvest and dispose of
the Property comprising the Trust in accordance with this Agreement. The Trustee shall not have any
responsibilities other than those expressly set forth in this Agreement. The Trustee may borrow against any
Policy included in the Trust for the purposes of paying premiums (including premiums on the same or other
Policies), paying amounts due to Beneficiaries, and paying the fees, disbursements, taxes and expenses of the
Trust and its administration, including the Trustee's fees, disbursements and expenses.
(b) The Trustee shall not be deemed to have any knowledge of, or responsibility for, the terms or
provisions of any other agreements or instruments including, without limitation, any will or other testamentary
instrument of the Grantor. The Trustee shall be fully protected in acting on and relying upon any written notice,
direction, request, waiver, consent, receipt or other paper or document which the Trustee in good faith believes to
have been signed or presented by the proper party or parties. The Trustee shall not be liable for any error of
judgment, or for any act done or step taken or omitted by it in good faith or for any mistake of fact or law, or for
anything which it may do or refrain from doing in connection with this Agreement, except for its own bad faith,
willful misconduct or gross negligence.
(c) The Trustee may from time to time consult with counsel of its own choosing, who may be counsel to
the Grantor or the Beneficiaries, and shall not incur any liability or responsibility for acting or failing to act on the
advice of counsel. The Trustee makes no representation as to the validity, value, genuineness or collectibility of
any Insurance Policy, certificate, promissory note, security, document or instrument held by or delivered to it.
The Trustee shall not be required to give any bond or other security for the faithful performance of its duties
under this Agreement. The Trustee shall not be under any obligation to institute any lawsuit or proceeding unless
its expenses, including counsel fees and disbursements, have been advanced to it or provision therefore has been
made in a manner satisfactory to the Trustee.
(d) The Trustee shall not exercise any of the powers enumerated herein if such exercise is in conflict with
existing laws, regulations or determinations of regulatory bodies, which govern the activities of the Trustee.
INSTRUCTIONS FROM BENEFICIARIES
Article 7. The Beneficiaries shall certify to the Trustee the name or names of any person or persons
(who shall not be the Grantor) authorized to execute and present any instrument on their behalves and until
notified by them that any such person is no longer authorized to act on their behalves, the Trustee may continue to
rely on the authority of any such person. The Trustee may act in reliance upon any instructions, consents,
waivers or releases which appear to be valid and duly authorized by the Beneficiaries, as the case may be, and the
Trustee may act without any further inquiry into such instructions, consents, waivers or releases. The Trustee
shall not be liable for any loss, expense or breach of trust which may result from any act or failure to act on its
part, if such action or inaction is (a) in compliance with such an instruction, consent, waiver or release from the
Beneficiaries, as the case may be, or (b) a result of the failure on the part of the Beneficiaries or any other person
to give a written instruction, consent, waiver or release properly or within a required period of time.
COMPENSATION
Article 8. As compensation for its services hereunder, the Trustee shall be entitled to receive and the
Grantor (and his or her estate) shall pay the Trustee's disbursements and expenses of administering the Trust and
the Trustee's fees set forth in the schedule of fees publicly announced by it from time to time, a current copy of
which is set forth in the Fee Schedule attached as Exhibit G hereto. To the extent that such fees, disbursements
and expenses are unpaid, the Trustee may, at any time thirty (30) or more days after it has billed the Grantor
therefore, in its sole and absolute discretion, apply Trust assets (including the proceeds of Policy loans) to the
payment of such fees, disbursements and expenses. The Grantor (if then living) or the Beneficiaries (thereafter)
will be notified of any change in such schedule of fees at least 90 days prior to the effective date of the change.
INDEMNIFICATION
Article 9. The Grantor (and his or her estate) shall reimburse and indemnify the Trustee and its
directors, officers, employees and agents (the "Indemnitees") for, and hold them harmless against, any loss,
liability or expense, including but not limited to counsel fees, arising out of or in connection with the Trustee's
acceptance of, or the performance of its duties and obligations under, this Agreement, except for losses, liabilities
and expenses caused by the willful misconduct or gross negligence of the Indemnitees. Without limiting the
foregoing, the Indemnitees shall in no event be liable in connection with any action taken in good faith, including
the investment or reinvestment of any cash held by the Trustee hereunder in accordance with the terms hereof,
including without limitation any liability for any delays not resulting from its or their gross negligence or willful
misconduct or any loss of interest incident to any such delays. Without limiting other remedies available to the
Indemnitees hereunder, until paid, indemnification amounts required to be paid hereunder shall constitute a charge
against the Property.
To the extent the Trustee makes any application or provides any information respecting the Grantor in
connection with applying for or acquiring any Insurance Policy, the Grantor shall provide all required or
requested information in an accurate and truthful manner, and the Grantor, and not the Trustee, shall be solely
responsible for the accuracy and adequacy thereof. The Grantor shall, if requested, submit to a medical
examination. The Grantor (and his or her estate) will indemnify the Trustee and the other indemnitees in
connection therewith fully in accordance with the foregoing paragraph.
To the extent that any tax, assessment or charge on the Trust is not paid out of Trust assets, the Grantor
(and his or her estate) and the Beneficiaries, to the extent they have received distributions from the Trust, shall
reimburse and indemnify the Indemnitees for, and hold them harmless from and against any liability for, any such
amounts, together with the Indemnitees expenses (including reasonable attorneys fees) in connection therewith.
RESIGNATION OR REMOVAL OF TRUSTEE
Article 10. The Trustee shall have the right to resign at any time, provided the Trustee shall have
delivered to the Beneficiaries, at least ninety (90) days in advance, a written notice of such resignation. The
Beneficiaries holding interests at least equal to two-thirds (2/3) of the principal of the Trust shall have the right to
remove the Trustee as Trustee hereunder for any reason whatsoever, provided they shall have delivered to the
Trustee, at least ninety (90) days in advance, a written notice of such removal. The date of such resignation or
removal shall be the date specified in the written notice; provided, however, that the date of resignation or
removal of the Trustee shall be any earlier date that the Trustee and the Beneficiaries holding interests at least
equal to two-thirds (2/3) of the principal of the Trust may agree upon.
Upon the resignation or removal of the Trustee, a successor Trustee (not the Grantor) shall be appointed
by the Beneficiaries holding interests at least equal to two-thirds (2/3) of the principal of the Trust. The successor
Trustee shall have all of the powers and duties conferred herein upon the Trustee. The Trustee shall not cease to
be the Trustee hereunder until the successor Trustee takes office or sixty (60) days have elapsed since the effective
date of its resignation or removal, whichever occurs first. If a successor Trustee has not been appointed at the
expiration of such sixty (60) day period or the effective date of the resignation or removal, the Trustee's sole
responsibility hereunder shall be to deposit the Property in accordance with (i) a written agreement signed by the
Beneficiaries holding interests at least equal to two-thirds (2/3) of the principal of the Trust, or (ii) an interpleader
action in accordance with applicable state law, or (Hi) as a court of competent jurisdiction may order.
The Trustee shall deliver to the successor Trustee the Property, together with all records requested by the
successor Trustee to enable it to hold, administer and dispose of such Property properly; provided, however, that
the Trustee shall be authorized to retain such amount from the Trust as may be necessary for the payment of its
fees and reimbursement of its disbursements and expenses of administering the Trust incurred prior to its transfer
of the Property and records to the successor Trustee. The Trustee shall execute, acknowledge and deliver all
documents and written instruments necessary to transfer its right, title and interest in the Property, and all related
rights and privileges, to the successor Trustee.
RESOLUTION OF CONTROVERSIES
Article II. If a controversy arises between the parties hereto, or between any of the parties hereto and
any person not a party hereto, as to whether or not or to whom the Trustee shall deliver the Property or any
portion thereof or as to any other matter arising out of or relating to the Property or this Agreement, the Trustee
shall not be required to determine the same and need not make any delivery of the Property or any portion thereof
but may retain it until the rights of the parties to the dispute shall have fmally been determined by written
agreement among the parties in dispute or by fmal order of a court of competent jurisdiction; provided, however,
that the time for appeal of any such fmal order has expired without an appeal having been made. The Trustee
shall deliver the Property or any portion thereof within 10 business days after the Trustee has received written
notice of any such agreement signed by the parties or any such fmal order (accompanied by an opinion of counsel
that the time for appeal has expired without an appeal having been made). The Trustee shall be entitled to assume
that no such controversy has arisen unless it has received a written notice that such a controversy has arisen which
refers specifically to this Agreement and identifies by name and address the adverse claimants in the controversy.
If a controversy of the type referred to in this Article arises, the Trustee may, in its sole and absolute discretion
(but shall not be obligated to), commence interpleader or similar actions or proceedings for determination of the
controversy.
IRREVOCABILITY
Article 12. This Agreement, and the Trust created hereby, shall be irrevocable and shall not be subject
to any alteration or amendment. This Agreement shall continue until the termination hereof pursuant to
paragraphs (d), (e), (f) and (g) of Article 5.
NOTICES
Article 13. Any notice, consent, instruction or other communication or document given under this
Agreement shall be effectively given or delivered only if it is in writing and is delivered personally or by first
class mail, postage prepaid, addressed to the parties at the addresses set forth in this or any counterpart to this
Agreement. The Beneficiaries, the Grantor and the Trustee may at any time change the address to which notices
are to be sent to them by giving written notice thereof in the manner provided in this Article.
INTERESTS OF BENEFICIARIES
Article 14. The interests of the Beneficiaries under this Agreement in the income and principal of the
Trust shall not be subject to anticipation or to voluntary or involuntary alienation. This Agreement shall be
binding upon and inure to the benefit of, and shall be enforceable by, the parties hereto and, to the extent provided
herein, their respective representatives, heirs and successors. Each representative shall execute any documents or
legal instruments necessary or desirable to carry out the provisions of this Agreement.
INCAPACITY OF BENEFICIARIES
Article 15. Any income or assets payable to a Beneficiary who is a minor or is mentally or physically
incapacitated, or any notices to or elections by such Beneficiary required to be made hereunder shall be payable
to, or made by, a guardian or custodian for such Beneficiary (who shall not be the Grantor). The Trustee shall
have no duty to see to the proper application of any Property so distributed. Any determination regarding the
mental or physical capacity of a Beneficiary shall be made by the Trustee in its sole discretion and shall be fmal
and binding on all interested persons.
RULE AGAINST PERPETUITIES
Article 16. Notwithstanding anything to the contrary, the Trust created hereunder will, in any event,
terminate one day earlier than twenty-one (21) years after the death of the Grantor's descendants who were alive
on the date of execution of this Agreement. On termination, the Trustee will distribute the Property, free of any
trust, in accordance with the provisions of this Trust applicable to its termination.
CONSTRUCTION OF AGREEMENT
Article 17. This Agreement shall be construed, administered and governed by the laws of the State of
North Dakota. In addition to the powers expressly provided for herein, the Trustee is authorized to exercise from
time to time in its sole and absolute discretion any and all powers authorized or permitted for trustees in respect of
trusts under the laws of the State of North Dakota. If any provision of this Agreement shall be held by a court of
competent jurisdiction to be invalid or unenforceable the remaining provisions of this Agreement shall continue to
be fully effective. Headings in this Agreement are inserted for convenience of reference only and are not to be
considered in the construction of its provisions. This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original, and all of which shall constitute but one and the same instrument,
which may be sufficiently evidenced by anyone counterpart. This Agreement represents the entire understanding
and agreement among the parties hereto with respect to the subject matter hereof and supersedes all prior
negotiations between the parties. No waiver or any breach of any terms hereof shall be effective unless made in
writing signed by the party against whom enforcement of the waiver is sought, and no such waiver shall be
construed as a waiver of any subsequent breach of that term or of any other term of the same or different nature.
Pronouns in this Agreement shall be deemed to refer to whatever gender and number the identity of the person,
persons or entity involved may require.
INSURANCE COMPANIES
Article 18. Notwithstanding the provisions of this agreement, any life insurance company which has
issued a policy of life insurance subject to the provisions of this Agreement is hereby authorized to act in
accordance with the terms of such policies, and the payment or other performance of its contractual obligations by
any such insurance company in accordance with the terms of any such policy shall completely discharge such
company from all claims, suits and demands of all persons whatsoever. The Trustee's only responsibility with
respect to any such Policy shall be to collect the proceeds and enforce the terms thereof.
ADVISORS TO TRUSTEE
Article 19. In fulfilling its duties hereunder, the Trustee may employ, in its sole and absolute discretion,
investment counsel, accountants, depositaries, custodians, brokers, attorneys and agents, irrespective or whether
any person so employed shall be or be deemed to be a fiduciary hereunder or a firm or corporation in which a
fiduciary hereunder shall have an interest and may pay them the usual compensation for their services out of the
principal or income of the property held hereunder in addition to and without diminution of or charging the same
against the commissions or compensation of the Trustee hereunder.
REPRESENTATION BY COUNSEL
Article 20. The parties hereto confirm that they have been represented by counsel of their choice in
connection with this Agreement. The Grantor hereby confirms that he understands the consequences of execution,
delivery and performance of this Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
WITNESS'~ \~
1
GRANTOR:
~.v 11': ~
EMMA K. LYONS
WnN~Q~~
Exhibit A
BENEFICIARIES
Each of the following individuals shall have a percentage interest in the income and principal of the Trust as
provided below; provided, however, that if any individual shall predecease the death of the Grantor, such
individual's percentage interest, to the extent not effectively appointed by such individual's will shall be divided,
per stirpes, among such individual's surviving descendants, if any, or if none, then such individual's percentage
interest shall be divided proportionately among the surviving Beneficiaries.
Percentage Percentage
Interest in Interest in
,
Date of Income Principal
Namel Address Social Security # Birth of Trust of Trust
Gerald S. Lyons 170-38-2231 W- 24-44 16.666% (116) 16.666% (116)
Linda Lyons Young 170-32-3113 11-11-40 16.666% (116) 16.666% (1/6)
Gregory M. Lyons 211-56-9687 10-11-76 16.667% (116) 16.667% (1/6)
Douglas M. Lyons 170-60-2007 11-23-78 16.667% (116) 16.667% (116)
Jeffrey R. Lyons 160-64-4701 11-29-80 16.667% (116) 16.667% (1/6)
Michael H. Young 228-88-7826 1-13-68 16.667% (116) 16.666% (1/6)
100% 100%
The Named Individual in Exhibit B shall promptly notify the Trustee of the death of any individuals listed above
as well as the names and addresses of such individual's surviving descendants.
.
Exhibit B
Pursuant to Article 2 (c) and/or (d) of this Agreement, the Named Individual shall be
Gerald S. Lyons, who resides at 20 Lyons Lane, Shippensburg, Pennsylvania 17257 and whose signature and
Social Security number are:
~\U&P j tr~
Gerald S. Lyons
SSN: 170-38-2231
In the event of the death of the Named Individual, the successor shall be Linda Lyons Young, who
resides at 13535 Tabscott Drive, Chantilly, Virginia 20151 and whose signature and Social Security number are:
"
d~
inda yons Young
SSN: 170-32-3113
LV
The Grantor may not remove or name additional persons to serve as the Named Individual after the execution of
this Trust. If there is no successor to the Named Individual listed on this Exhibit B, then the last Named
Individual may appoint a successor, who shall not be the Grantor.
COMMONWEALTH OF PENNSYLVANIA
DflARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPT. 280601
HARRISBURG, PA 17128-0601
REV-1162 EX111-961
RECEIVED FROM:
PENNSYLVANIA
INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
LYONS GERALD S
20 LYONS LANE
SHIPPENSBURG, PA 17257
-------- 'old
ESTATE INFORMATION: SSN: 196-38-7712
FILE NUMBER: 2106-0974
DECEDENT NAME: LYONS EMMA K
DATE OF PAYMENT: 01/12/2007
POSTMARK DATE: 01/11/2007
COUNTY : CUMBERLAND
DATE OF DEATH: 10/16/2006
NO. CD 007691
ACN
ASSESSMENT
CONTROL
NUMBER
AMOUNT
101 I $120,000.00
I
I
I
I
I
I
I
I
TOTAL AMOUNT PAID:
REMARKS:
CHECK# 3
, ,"
. SE.AL
INITIALS: WZ
RECEIVED BY:
TAXPAYER
$120,000.00
GLENDA FARNER STRASBAUGH
REGISTER OF WILLS