HomeMy WebLinkAbout05-03-07 (2)
~
..." .......
~,
"
{I
.:.J
15056041147
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 ONLY
County Code Year
INHERITANCE TAX RETURN
RESIDENT DECEDENT 2 1 0 6
File Nl.ITIber
00588
Decedent's Last Name
Suffix
Date of Birth
08261934
Decedent's First Name MI
THOMAS R
Spouse's First Name MI
JUDY M
178284365
06202006
HOBBS
(If Applicable) Enter Surviving Spouse's Infonnatlon Below
Spouse's Last Name Suffix
HOBBS
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
[!] 1. Original Return
4. Limited Estate
o 2. Supplemental Return
o
o
o
4a. Future Interest Compromise
(date of deeth after 12-12-82)
o
00
3. Remainder Return (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
Q
[K]
o
6. Decedent Died Testate
(Attech Copy of WID)
7 Decedent Melntelned a Living Trust
. (Attech Copy of Trust)
8. Total Number of Safe Deposit Boxes
9. Utigation Proceeds Received
10 Spousal Poverty CredK (date of death
. between 12-31-111 and 1-1-95)
o
11. Election to tax under Sec. 9113(A)
(Attach Sch. 0)
Finn Name (If Applicable)
~ORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
ame Daytime Telephone Number
DAVID J. LENOX 71743~~666 ~
r"'~- L..:;)
~ccc 0 -....
REGISTER d.t~~s Use;PNL Y.
;.~:::--,':"..:::. ~
I
C.0
THE
WILEY GROUP,
PC
First line of address
""J.i
130 W. CHURCH STREET
Second line of address
a
0'1
1'0
City or Post OffIce
DILLSBURG
DATE FILED
State
PA
ZIP Code
17019
Correspondent's e-mail address:
Under penalties of P.8~ury, I declare that I have examined this return, including accompan~ng schedules and statements, and to the best of my k~ and belief,
it Is true, ana piete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knoWledge. .
SIGNATURE PERS IBL FO FILING RETURN DATE
Judy M. Hobbs ~ '/ t?
David J. Lenox
s
"
Street, DiIIsburg, PA 17019
Side 1
L
15056041147
15D56041147
---1
.
--.J
1505bO...21...8
REV.1500 EX
Decedent'sN8ITl8: Thomas R. Hobbs
RECAPITULAnON
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.
Decedent's Social Security Number
178284365
1.670.000 00
1.275.539 59
75.000 00
62.839.47
744.116 66
3.827.495 72
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
17. Amount of Line 14 taxable
at sibling rate X .12
18. Amount of Line 14 taxable
at collateral rate X .15
819.116.66
15.
16.
0.00
17.
0.00
18.
19. Tax Due...................... ............ .............................................. ........ .............. ............... 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
Side 2
L
15D5bO...2la...t.
13.029 02
13.029 02
3.814.466 70
2.995.350 04
819.116 66
o 00
o 00
o 00
o 00
o 00
D
lSDSbDlf21lft.
--.J
.
REV-1500 EX Page 3
Decedent's Complete Address:
File Number 21-06-00588
DECEDENrs NAME
Thomas R. Hobbs
STREET ADDRESS
1313 McCormick Drive
CITY I STATE IZIP
Mechanlcsburg PA 17055
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. CreditsJPayments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
0.00
0.00
3. InterestJPenalty if applicable
D. Interest
E. Penalty
Total Credits (A + B + C)
(2)
0.00
TotallnterestJPenalty (0 + 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) 0.00
(5A)
(5B) 0.00
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes
a. retain the use or income ofthe 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 death?......... 0
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ....................... ............ ............ ...................................... ................................. [!] D
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
No
[!]
[!]
[!]
[!]
[!]
[!]
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the
surviving spouse is three (3) percent [72 P.S. 59116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero
(0) percent [72 P.S. S9116 (a) (1.1) (ii)]. The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements
for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a
natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. S9116 (a) (1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent,
except as noted in 72 P.S. S9116 1.2) [72 P.S. S9116 (a) (1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P .5. S9116 (a) (1.3)]. A
sibling is defined under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
IDast lIill emu tu.eshtttt.ent
OJ!'
THOMAS R. BOBBS
I, THOMAS R. BOBBS, of 1313 McCormick Road,
Mechanicsburg, Cumberland County, Pennsylvania, declare
this to be my Last Will and Testament, and revoke all
prior Wills and Codicils made by me.
ITEM 1: I direct my Personal Representative to pay
my funeral expenses and have a marker erected at my
grave; and I authorize it to expend for these purposes
such sums as it deems proper, without any limit
prescribed by law, and without order of Court.
ITEM 2:
I bequeath all of my tangible personal
property, together with all insurance policies thereon,
to my wife, JUDY H. HOBBS, if she is living thirty (30)
days after the date of my death, and if she is not then
living, in as nearly equal shares as possible to my then
living children.
ITEM 3: If my wife, JUDY H. BOBBS, survives me, I
devise and bequeath unto MERRILL LYNCH TRUST COMPANY OF
AMERICA, IN TRUST, to be known as the "MARITAL TRUST",
such an amount, if any, as when added to the value of all
property which passes or has passed to my said wife
either under other provisions of this will or outside of
this will and which qualifies for the marital deduction
allowable for Federal Estate Tax purposes, shall be the
minimum amount necessary to give my estate a resulting
marital deduction which, after taking into account other
ass:
'.. 1
.' ..... . .,,{,- \..... c----.,.Jl..,
~~~
~~)
-1-
deductions and all allowable credits, will cause the
Federal Estate Tax affected by the amount of this devise
and bequest' to be eliminated or reduced to the lowest
possible amount; provided, however" the state death tax
credit shall be taken into account only to the extent
that it does not result in any increase in the amount of
death taxes payable to any state.
The
assets
to
be
distributed
in
satisfaction of this devise and bequeath may be allocated
in cash and/or kind, shall be only those which qualify
for marital deduction and shall be selected in such
manner that the cash and other property distributed will
have an aggregate fair market value fairly representative
of the distributee's proportionate share of the
appreciation or depreciation in the value to the date, or
dates, of distribution of all property then available for
distribution. Any property assigned or conveyed in kind
to satisfy this devise and bequest shall be valued for
that purpose at the value thereof as finally determined
for Federal Estate Tax purposes.
A. The net income shall be paid to my
wife, for life, at least quarter-annually.
B. My wife shall have the absolute right,
at any time or times to withdraw any portion or all of
the principal of the "MARITAL TRUST" as she may demand in
writing to my Trustee.
c. If my wife shall be so ill or
..... ~~
c--1__Q)
~~)
R. HlD3S
-2-
otherwise incapacitated as to be unable to exercise her
power of withdrawal, my Trustee is authorized, in its
absolute discretion, to make payments from the principal
of the "MARITAL TRUST" for the benefit of my wife as my
Trustee deems advisable to provide for her support,
maintenance, general welfare and care, so that she shall
be enabled to live in the comfort to which she has been
accustomed,
and my Trustee need not take
into
consideration any property which she may own, or any
income to which she may be entitled.
D. My wife shall have the unrestricted
power to appoint, by specific reference in her Will, the
entire income and principal of the "MARITAL TRUST"
absolutely, in further trust, or in any other manner, in
favor of any person or persons,
corporation or
corporations she may designate, including her estate, her
creditors or the creditors of her estate, such power
being exercisable by her alone and in all events.
E. If my wife fails to exercise the
foresaid power of appointment, or if any attempted
exercise thereof be invalid or fails to be effective,
then upon her death, my Trustee shall add the property
then held by it under this "MARITAL TRUST", or the
portion thereof not validly appointed, to the "RESIDUARY
TRUST" created by Item 4.
ITEM 4: All the rest and residue of my
estate, real and personal, and all property over which I
~S:
~.~~
~~SF&)
-3-
may have power of testamentary disposition, I devise and
bequeath and appoint to MERRILL LYNCH COMPANY OF AMERICA,
IN TRUST, to be known as the "RESIDUARY TRUST".
A. The net income shall be paid to my
wife, JUDY M. HOBBS, for life, at least quarter-annually.
B. Upon the death of my wife, or upon my
death if she predeceases me, my Trustee shall divide the
principal of this trust into such number of equal shares
so that there shall be one share for each child of mine
then living and one share for the then living descendants
(as a group) of each deceased child of mine.
1. Each share for the living
descendants of a deceased child shall be distributed to
such descendants, per stirpes.
2. The share for each living child
shall be distributed as follows:
a. One-Third (1/3) of the
balance and accumulated income shall be distributed at my
death.
b. One-Half (1/2) of the
balance and accumulated income shall be distributed five
(5) years from the date of my death.
c. The remaining balance and
accumulated income shall be distributed ten (10) years
from the date of my death.
d. Such child shall have the
power to appoint, by specific reference in his or her
".....
L..J .J-
.:Jb~~~~)
R. lIEBS
...._..-.._~..---....~.
---'-- !
.~......~-_::..:.------_._.'"_..
.-....,...-:-...-.--......... -
; Will, such trust share absolutely, in further trust or in
: any other manner, in favor of any person or p~rsons,
:corporation or corporations, he or she may designatej
: provided, however, as to such portion or all of said
!
: property over which such child immediately prior to his
:or her death had an absolute right of withdrawal, such
child shall have the further power to appoint such
property to his or her estate, his or her creditors or
'the creditors of his or her estate.
e. Upon the death of such child
i any principal of such child's share not validly appointed
!
'shall be distributed to such child's then living
descendants, per stirpes, and if such child leaves no
descendant then living, the same shall be distributed to
;
imy then living descendants, per stirpesj provided,
,
ihowever the share of any person for whom a trust is then
I
: continuing under the terms of this Will shall not be
!
'distributed to such person, but'shall be added to the
I
itrust so held for such person.
C. My Trustee is authorized, in its
: absolute discretion, to make payments from the principal
of the "RESIDUARY TRUST" to or for the benefit of my wife
and/or my children, of her, his or their support,
maintenance, education, general welfare and care, as my
Trustee deems advisable; provided however, that no such
payments shall be made to or for the benefit of my wife
until after the "MARITAL TRUST" has been exhausted. Any
~~ /2- JI~SFAL)
R. R:8BS
-5-
payment made from principal prior to the death of my wife
shall be a general charge, but after her death the
payment shall be charged against the principal of the
share of the child to whom or for whose benefit such
payment is made.
ITEM 5:
Any portion of my estate or any trust
undisposed of by the foregoing provisions shall be
distributed in accordance with the then laws of the State
of Pennsylvania, as if I had then died intestate.
ITEM 6 :
Any portion of my estate or any trust
distributable to a person who has not attained twenty-one
(21) years of age may be distributed for the benefit of
such person under the provisions of the Pennsylvania
Uniform Gifts to Minors Act to be held under such
custodial management until such person attains twenty-one
(21) years of age, and I authorize my Personal
Representati ve and/ or Trustee to appoint an individual or
insti tution, including itself, as Custodian under the Act
for such person.
ITEM 7: A. During the minority, illness or other
incapacity of any beneficiary hereunder, my Trustee is
authorized, in its absolute discretion, to make payments
of income or principal due to or authorized in respect to
such beneficiary to his or her duly constituted Guardian
or Custodian under the Pennsylvania Uniform Gifts to
Minors Act, or to such other person or persons as in the
opinion of my Trustee may be in proper charge of such
beneficiary, to be applied by such person or persons to
the support, maintenance, education, general welfare and
care of such beneficiary, or if my Trustee deems best, to
itself apply such payments to which such beneficiary may
be entitled for such purposes without being required to
account therefor to any Court.
B. Except as herein otherwise provided,
..~'-
\ ~
l./ .-",'
~A~/t-~~)
R. lIEBS
-~-
all payments of income or principal are to be made
directly to the respective beneficiaries and not to any
other, whether claiming by their authority or otherwise,
without power of anticipation and without being subject
to execution or attachment; this provision, however, not
to prevent the deposit of funds payable to the
beneficiaries to their credit in any bank or other
financial institution, nor to prevent the exercise by my
Trustee of any discretionary powers conferred upon it.
ITEM 8: My Personal Representative and Trustee, in
their respective capacities and discretion, without
obtaining the prior or subsequent order or ratification
of any court, shall have the following powers in addition
to the powers granted to them by statute, common law or
rule of court.
A. To invest in, reinvest in and
change any investment in real or personal property,
expressly including participation in common trust funds;
to compromise and settle any claims; to sell, assign,
lease (including the power to lease for a period
extending beyond the probable duration of the trusts),
develop, build, alter, improve, raze, borrow, mortgage,
exchange or otherwise dispose of or deal with the assets;
to allocate in cash or kind all distributions of income
and principal; and to divide in kind and/or sell for the
purpose of division, and to do any and all things
hereunder which I would be able to do were I still
living.
B. To vote in person or by general
or limited proxy the stocks or other securities held by
it; to join in consent to or oppose any deposit
agreement, reorganization proceedings, plan of
reorganization, merger, dissolution or other adjustment
of capital funds or indebtedness affecting the assets
held by it; to pay an assessment upon the assets held by
it; to exercise any option and to take advantage of any
rights given in connection with the assets.
c. To cause assets to be registered
in the name of any nominee selected by it, or it may take
and keep them unregistered so that title will pass by
delivery.
D. To retain any asset acquired
without liability for any loss occasioned by reason of
such retention or for any lack of diversification;
provided, however, my Trustee shall not retain or invest
~s:
-Xf- ~
( ,.
1__J~1
~/?~J
R. lIEBS
~
-7-.
in any non-income producing asset in the "MARITAL TRUST"
without the express written consent of my wife.
E. with respect to the "RESIDUARY
TRUST", to purchase any asset from my Personal
Representative and to make loans, secured or unsecured to
it.
F. To receive other property, real
or personal, including policies of insurance, devised,
bequeathed, assigned, granted, conveyed, or made payable
to it, which are acceptable to my Trustee and which shall
be subject to the provisions and limitations of the
trusts hereby created, including additions by my wife to
the "MARITAL TRUST".
G. For investment or administrative
reasons, to treat the "RESIDUARY TRUST" as common fund,
notwithstanding any provision herein for division into
shares, until such time as it deems it advisable to make
such division.
H. To make any tax election with
respect to my estate or any trust created hereunder. My
Personal Representative and Trustee need not consider
only the tax effects such election may have on my estate,
or any beneficiary hereunder, as well as the needs of any
such beneficiary. I recognize that the making of such
tax elections may operate to the benefit of one or more
of the beneficiaries hereunder and to the detriment of
others, and I direct that no adjustment shall be made in
the interests of such beneficiaries to compensate for the
effects of any such election, and neither my Personal
Representative nor my Trustee shall be liable for any
increased taxes of any kind, or for any interest or
penalties with respect thereto, which may be or become
due by reason of the making of, or the failure to make,
any such tax election.
I. To the extent that my Trustee
shall have the right to exercise any option or election
respecting the manner of payment of any funds or other
assets which may be payable directly to the Trustee as
beneficiary, I direct that my Trustee shall have the
absolute discretion to exercise any such option or
election in such manner as it shall deem advisable,
regardless of the effect thereof on my estate, the trust
estates created hereunder, or any beneficiary or other
person interested herein,. and the determination of my
Trustee in the exercise of any such option or election
shall be final and binding on all persons interested
therein.
J. All of the powers granted to them
"--'-
c.--1.J~,
~/t~)
R. IDII3S
_R_
shall continue until all assets have been distributed.
K. No charge, reserve or other
deduction from income shall be made at any time for
depreciation of any asset.
ITEM 9: I recognize that the Trustee is a
subsidiary of Merrill Lynch Group, Inc. and specifically
authorize it:
a. to engage the services of Merrill
Lynch Group, Inc., any of its direct or indirect
subsidiaries or affiliates (collectively "Affiliated
Corporations" and, individually, an Affiliated
Corporation"), and, without limiting the generality of
this authorization, the services of Merrill Lynch
Investment Management, Inc., an Affiliated Corporation,
and Merrill Lynch, Pierce, Fenner & Smith Incorporated,
an Affiliated Corporation:
(i) to manage or advise on the
investments of the Trust;
to invest the Trust's assets in
mutual funds offered or managed by
any Affiliated Corporation; and
to act as a broker or dealer to
execute transactions and to provide
other services with respect to the
Trust, including the purchase of any
securities currently distributed,
currently underwritten, or issued by
any Affiliated Corporation;
b. to employ, and to delegate any ,?f
its powers, to any agents, attorneys or accountants as 1t
deems necessary and proper;
(H)
(Hi)
c. to pay for services rendered by
such persons or by any Affiliated Corporation from the
Trust property as an expense of trust administration,
without diminution for any payment that the Trustee may
receive as substituted trustee, and recognizing that the
Trustee may also receive credit or other compensation
from Affiliated Corporations for services it may perform
and may exchange services with any Affiliated
corporation; and
d. to cause or permit all or a'C!y
part of the trust to be held, maintained, or managed 1n
accounts or deposits administered in any jurisdiction
inside or outside the United States of America, and to
hold any trust property in the name of its nominee or a
us: -l~
q;:~~ 1
~"'~SEALl
R. lD3BS
-9-
nominee of any Affiliated Corporation.
ITEM 10: I authorize the Trustee to retain payment
for its services as substituted trustee under the
aforementioned trust agreement:
a. in accordance with its schedule
of rates as published from time to time and as in effect
at the time such compensation becomes payable; and
b. without diminution for any fees
that any Affiliated corporation may receive from mutual
funds in which the Trust has invested, including payment
for investment advisory or management fees,
administrative and sub-accounting services, brokerage
fees and commissions and payments for other expenses of
the mutual funds, and further, without diminution to
payments to any Affiliated Corporations for services
rendered to the Trust.
ITEM 11: The Trustee may resign at any time by
written notice delivered to me. After my death, such
notice shall be delivered to my legal representative. In
the event of my failure, refusal or inability to appoint
a successor trustee, or after my death the failure,
refusal or inability of my legal representative to
appoint a successor trustee, Trustee of any beneficiary
of the trust provided for in this Agreement may, at the
expense of the trust, secure the appointment of a
successor trustee by a court of competent juriSdiction.
No bond or other security will be required in any
jurisdiction of the Trustee, or any successor appointed
in accordance with these provisions.
ITEM 12: A. No apportionment of the income of
the "RESIDUARY TRUST", or of any subdivision thereof,
shall be made upon the death of any beneficiary, and the
beneficiary's estate shall not be entitled to any
accrued, or uncollected, or undistributed income, and all
such income shall be distributed with the other income of
the trust to the person or persons next entitled to the
income of the trust.
B. If proceeds of insurance on my
life are payable to my Trustee, I direct it to collect
the proceeds and allocate the same to the "MARITAL TRUST"
or to the "RESIDUARY TRUST", or partly to each, as it may
be directed by my Personal Representative, and my Trustee
shall notify my Personal Representative promptly of all
insurance proceeds which are paid or payable to it.
C. To the extent that my Personal
Representative does not have sufficient funds to provide
WI'IT'lESS :
~~
~ff~
':IlDW> R. ID3BS
-10-
for the payment of all estate, inheritance, succession
and transfer taxes, debts, funeral expenses,
administration expenses and cash bequests, my Trustee
shall distribute to or pay to the credit of my Personal
Representative such sum or sums from the principal of the
"RESIDUARY TRUST" as may be necessary to satisfy all such
cash requirements. My Trustee is authorized to rely
conclusively upon the certification of my Personal
Representative regarding the amount of cash needed, if
any, and distribution by my Trustee in accordance with
such certification shall exonerate it from all liability.
ITEM 13: All estate, inheritance, succession and
transfer taxes, including interest and penalties thereon,
if any, payable with respect to all property includible
in my gross estate for Federal Estate Tax purposes,
(other then generation-skipping transfer taxes), or
taxable by reason of my death, including inheritance
taxes which may be prepaid by or on behalf of any person
having a contingent or remainder interest therein, if my
Personal Representative in its absolute discretion deems
it advisable to prepay such taxes, shall be paid out of
the principal of my residuary estate.
ITEM 14: If my wife and I die under such
circumstances where there is insufficient proof to
determine who predeceased the other, I direct my wife
shall be deemed to have survived me.
ITEM 15: I appoint my wife, JUDY M. HOBBS as
Executrix of this my Last Will and Testamaent. Should my
wife, predecease me, fail to qualify, cease to act or
renounce probate, I then appoint my daughter, REBECCA S.
paNAS, as alternate Executrix of this my Last will and
Testament. My Executrix or her successor shall serve
without bond.
IN WITNESS WHEREOF, I have hereunto set my hand and
seal this ~ ~ day of S-lpJ:=un. J./....(A , 1992.
~.: J
~~;
~..L~ (SFAL)
-11-
COMKONWEALTB 01' PENNSYLVAltIA
SS
COUNTY OF YORK
We, THOKAS R. HOBBS, JAB H. WILEY, ESQUIRE and
PATRICIA A. OGG, the Testator and the witnesses
respectively, whose names are signed to the attached or
foregoing instrument, being first duly sworn, do hereby
declare to the undersigned authority that the Testator
signed and executed the instrument as his Last will and
Testament and that he had signed willingly (or willingly
directed another to sign for him), and that he executed
it as his free and voluntary act for the purposes therein
expresseq, and that each of the witnesses, in the
presence and hearing of the Testator, signed this Last
will and Testament as witness and that to the best of
their knowledge the Testator was at the time eighteen
(18) years of age or older, of sound mind and under no
constraint or undue influence.
Sworn to and subscribed
before me this ~~ day of
~J)Jl ,1992.
sJfl tLU/() 1:3h-~
NOTARY PUBLIC
MY COMMISSION EXPIRES:
NoIaria1 Seal
S. Dawn GIsdfeItsr, Notary PubIe
Carroll Tv.p., YOlk CoUnly
My Commission Expires May 17, 1993
MlltI"lbQr, Pemsylv;v1ill Associalion 01
Rev-1H2 EX+ ,....)
.
SCHEDULE A
REAL ESTATE
COIoIlIONWEAI. TH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESlOENT DECEDENT
ESTATE OF
Hobbs, Thomas R.
FILE NUMBER
21-06-00588
All,... property 0WMcI ~"y or.s . tenant In _ muat be reported at fair marllat value. Fair mar1\et value Is defined as the prlce et which property would be
axchanged '*-1 a willing buyer and a willing saller, neIlhar being compeIed to buy or sell, both having reallOllllble knowtedge of the relevant facts.
RaIII propelty which Is JoInl1y-ownecl with right of sutVfvonhlp must be dlaclosad on schsdule F.
ITEM
NUMBER DESCRIPTION
1 Home and property situate In Todd Township, Huntingdon County, PA:
VALUE AT DATE
OF DEATH
270,000.00
2 Home situate at 1313 McCormick Road, Mechanlcsburg, PA:
850,000.00
3 Property situate on Route 994, James Creek, Huntingdon County, PA:
550,000.00
TOTAL (Also enter on Line 1. Recapitulation)
1,670,000.00
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 fonn software only The Lackner Group, Inc.
Fonn PA-1500 Schedule A (Rev. 6-98)
Order Form
0-.. St.tus:
FileNo.: 07188-EL loan Type: PHYSICALINSPECnON 2127/07 0._
Case No: Job Type: Ordered:
CIIert fie No.: Property Type: OLD Due:
Trac:l<lngNo.: Form Type: lAND Assigned:
Filename: C:\Prnnram FiIesIACI32\LAND\07188-EL.aci Inspected: JUNE 20. 2006
Propert, Inf_ Reviewed:
Address: ROUTE 994 Signed: MARCH 15. 2007
City. JAMES CREEK County: HUNTINGDON 51: ~ lip: 16657 Fax/EDI:
location: TODD TOIIIINSHIP Map No:49-6-2 Census: 42-061-0236 lleiIvered:
Legal: DEED BOOK VOLUME 311 PAGE 76 Invoiced: MARCH 15. 2007
Sale Price: N/A U Refinance loan Aml: Oata or Sale: N/A User OeIIned: KWG
Rooms: Bedrooms: Baths: ~Ised Value: $550 000 Cancelled:
~ Fist: N1A last: Owner: THOMAS R. HOBBS EST Paid:
Cl_Inf_ liJ Ordered By 141 BillTo I2(J Send To
Client: THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX Billing In_lion
Branch: Invoice No.:
Address: 130 ~ST CHURCH STREET Fee: $300.00
City: DILLSBURG State: PA lip: 17017
Phone: Fax: 717-432-0426 .
Contact DAIIIIN 1717-432-9666
Mise:
Cl_""-- o BHI To o Send To
CI~ Tax: - $0.00
Brench: T alai Amount: $300.00
Address: Payment 1:
Cly: State: lip: Check ,: - Date:
Phone: Fax: Payment 2:
Conl8Cl: Check ,: Date:
Mise: Due: $300.00
App-.1serlBroIcer I_don
Name: GERALD B. SLICK. SRA RAA Supervisor:
Cart #: RL-000274-L Slale:PA Cart #: State: -
license #: Slate: - Ucense #: Slate: -
EXD. Data: 06130/07 Exn. Date:
I'rionwy Cont.ct Informallon
Prinwy Contacl: Horne Phone:
Best lime to call: Work Phone:
Second.-y Contact Inf_
Secondary Contact Horne Phone:
Best lime to call: Work Phone:
Spec'" ....tlUCtlon.
CommenIs
~""'ACI......aU)U721...~
SLICK & ASSOCIATES, INC.
REAL ESTATE APPRAISALS
File No. 07188-EL
APPRAISAL OF
THOMAS R. HOBBS ESTATE PROPERTY
LOCATED AT:
ROUTE 994
JAMES CREEK, PA 16657
FOR:
THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX
130 WEST CHURCH STREET
DILLSBURG. PA 17017
BORROWER:
N/A
AS OF:
JUNE 20, 2006
BY:
GERALD B. SLICK, SRA RAA
RL-000274-L
245 ROUTE 36 SOUTH, P.O. BOX 319, ROARING SPRING, PA 16673 PH. (814) 224-4006 FAX (814) 224-5778
SLICK & ASSOCIATES, INC.
REAL ESTATE APPRAISALS
File No. 07188-EL
MARCH 15, 2007
DAWN /717-432-9666
THOMASR. HOBBS ESTATE C/O ATTY. DAVID LENOX
130 WEST CHURCH STREET
DILLSBURG, PA 17017
File Number: 07188-EL
DEAR ATTORNEY LENOX:
In accordance with your request, I have appraised the real property at:
ROUTE 994
JAMES CREEK, PA 16657
The purpose of this appraisal is to develop an opinion of the market value of the subject property, as vacant.
The property rights appraised are the fee simple interest in the site.
In my opinion, the market value of the property as of JUNE 20, 2006
is:
$550,000
FIVE HUNDRED FIFTY THOUSAND DOLLARS
The attached report contains the description, analysis and supportive data for the conclusions.
final opinion of value, descriptive photographs, limiting conditions and appropriate certifications.
SINCERELY,
~e~e~
GERALD B. SLICK, SRA RAA
RL-G00274-L
245 ROUTE 36 SOUTH, P.O. BOX 319, ROARING SPRING, PA 16673 PH. (814) 224-4006 FAX (814) 224-5778
~ I\d<nss ROUTE 994
CItv JAMES CREEK Countv HUNTlNGOON
~I 0esatIlll0n DEED BOOK VOLUME 311 PAGE 76
nt THOMAS R. HOBBS ESTATE Ma Reterence 49-6-2
Sole Price $ N/A Date 01 Sale N/A Properly Righls Appraised
loon sIons 10 be Mid bv seier $ N/A (X Fee SImple
RE. T..... $ 3743.00 Tax Vear 2007 HOA $/Mo. Leashold
~ THOMAS R. HOBBS ESTATE ClOATTY. DAVID LENOX Condominium (HUOIVA)
130 WEST CHURCH STREET DILLSBURG PA 17017 PIlD Source
LOCATION Urban Suburban ~ Ru-ai NEIGHBORHOODANALVSlS....... f. ....
BUR.TUP : 0-75% : 25.75% ~S Ulownder 25% EmploymentSI8b111ty ~~,..,X ~ _
GROWTH RATE _ Rapid ~ Slable :- Convenience 10 Employment ~ _
. PROPERTY VALUES = lnaeaslng ~ Slable i= Declining Convenience 10 Shopping Fa ...
DEMANIltSUPPL V _ Shortage .IS In Balance i- 0- SUpply Convenience 10 Schools i= ~ i=
MARKETlHG TIME Und... 3 Mos. X 3-6 Mas. Over 6 Mos. Adequacy 01 Public Transportallon :- ~
PRESENTLAMJ USE % LANOUSECHANGE PREDOMINANT SlNGlEFMt.VIIJUSI\G Recreation Facilities i- X _ :
Single FamIy ~ Not Likely 00 OCCUPANCY PRICE AGE Adequacy 01 FaclillIes i= X _ _
2~ Fanily _ I.ikeIy 0 Owner 00 $(000) (yrs) Propeny Compatlbllity ~ = i=
Wti-Farnlly _ Inprocess 0 Tenant @~LOW~ Protection from OetrImentalCond. i= ~ _ :-
CcxmwciaI _ To: Vacant (0-5%) X ~ High --1.QQ:!: Police &F~e Protection :- ~ _ l=
industrial Vacant (over 5%) Predominant Genera' Appearance 01 Properties i- ~ l-
Vacant 85'll 125 . 50 ._ai 10 MarItet X
NOle: Race or the raelal composition of the nelghborhood are nOl considered reliable appraisal factors. COMMENTS.THERE ARE NO APPARENT
ADVERSE FACTORS IM-IICH SHOULD AFFECT THE SUBJECrS MARKETABlUlY. STABLE PRICES AND AN AVERAGE
MARKETING TIME DEMONSTRATE A BAlANCE IN SUPPLY AND DEMAND. THERE IS ADEQUATE ACCESS TO SHOPPING AND
EMPLOYMENT. THE SCHOOL DISTRICT PROVIDES TRANSPORTATION FOR ALL STUDENTS IN GRADES ONE TO TWELVE. NO
ADVERSE INFLUENCES WERE OBSERVED.
DimensIons IRREGUlAR Topography
Site Area 272.00 ACRES +1- Corner Lot NO Size
Zoning Classlftcation NONE (COMMON TO THE AREA) Zoning Compliance N/A Shape
HIGHEST & BEST USE: Present Use RECREATIONAL Other Use NONE Drainage
UTlUTlES Pubilc Other SITE M>ROVEMENTS Type Public Private View
Bect11cIty 00 Street ASPHALT 00 B Landscaping
Gas 0 Curb/GUll... NONE ~O ~ Driveway
Walllr ~ Sidewalk NONE Apparenl Easements
Sanitary Sewer Street Ughls NONE FEMA Flood Hazard
Storm Sewer Alley NONE FEMA'Mar>'Zone
ean-.as (Apparent adverse easements. encroachmenls. special assessments. slide areas, etc.): THIS AREA PROVIDES A GOOD ENVIRONMENT
FOR THE SUBJECT BEING APPRAISED. THERE ARE NO FACTORS THAT IMLL NEGATJVEL Y AFFECT THE MARKETABILITY OF
THE SUBJECT.
SLICK & ASSOCIATES, INC.
LANDAPPRA~ALREPORT
FIe No 07188-EL
Census Tract 42-081-0236
Slale PA Zio Code 16657
LENDER DISCRETIONARY USE
Sale Price $
Date
Mortgage Amounl S
Mortgage Type
Discount Points and Other Concessions
Paid by Seiler S
ROLLlNGlMOUNTAINOUS
TYPICAL FOR AREA
IRREGUlAR
APPEARS ADEQUATE
NOTHING ADVERSE
NONE
NONE
NONE APPARENT
Ves' No X
The undersigned h.. recited thr.. recent .al.. 01 propenle, most ,Imlllll( and prollmal8 10 SUbject and hn consldeled tbeu In Ihe merte. analysis. The ducrlptlan Include. . dolla'
adJust",.,u. renecUng m.rhl '.'cUon to those Items 01 signlflc.nt nrl..lon betwe.n Ihe subject and comp.r.ble propenles. If. significant Uem In the comp.,.ble propeny Is sup.rlOl
10, or mar. I.yorebl. than, the sUbJecl property. I minus (-I adjustment Is made, thus redUCing Ifte Indh::a.ed waive of subJecl; If . slgnmeant lIem In Ihe comp.rable Is Inl.r'or 10.
or leu "'Ior.bla 111'11, the subject property, . plus (t J .dJustment Is made, .IlU5 Incrustn" the IndlClled ulu. 01 ,.... subject.
ITEM
I SUBJECT COMPAlRA81E NO. 1
ROUTE 994 RAYSTOVVN ROAD
CREEK SAXTON PA
COMPAIRA8LE NO.2 COMPARABLE NO. 3
SEVEN POINTS& PINEY RIDGI SHEAFFERS RUN ROAD
HESSTON PA HYNDMAN PA
I\d<nss
ProxImItv 10 S..I......
Sales Price
Price( ACRE
-
Data Source
.
VALUE ADJUSTMENTS
Sales or FlnancJng
Conoesslons
Dale or SaielTime
. Location
SIle/View
ACREAGE
.. WATER
SEWER
100 000 ;'i,.j:.'./x:":: $ 1 02 650 i':,::::>:':>> .,;,. / $
/:)1"/ $;:::2:\ $
MLS#1004217 MLS#0011168
(.(."....- DESCRIPTION I .(.,,_ DESCRIPTlON I .(.,,_
-0- UNKNOWN , -0- UNKNOWN -0-
-0- NONE -0- NONE -0-
-0- 8105 : -0- 7/05 : -D.
-25000 RURAUAVG -0- RURAUAVG - +75000
-0- EQUAL : -0- INFERIOR : +150000
: +450000 57.15ACRES+I-: +430.000 194.00 ACRES +1-: +175000
-0- NONE -0- NONE -0-
: -0- NONE : -0- PERC APPROVEC: -2 500
: -0- : -0- : -0-
NetAdl. (tOl8Il . . . $ 425000'" . '$ 430 OOD~' . 'S 397500
Indicated Value
01 Subiect S 525 ODD $ 532 650 $ 557 500
Comments 01 Sales Comparison: THE SUBJECT AND COMPARABLES ARE SIMILAR IN LOCATION AND VIEW. THE FIVE COMPS USED
ARE CONSIDERED THE BEST AVAILABLE AT THIS TIME.
N/A >< ...::. '. .... $
CZI S 26321ll ..:..,:':
MLS # 0009859
DESCRIPTION
CASH
NONE
N/A 4/04
RURAlIAVG RURAUAVG +
NOTHING ADVE EQUAL
272.00 ACRES + 38.10 ACRES +1_
NONE NONE
NONE NONE
$
$
INSPECTION
DESCRIPTION
160000
',.
Comments and CondlUons 01 Appraisal: SEE ATTACHED ADDENDUM.
Final Reconciliation: THE SAlES COMPARISON APPROACH IS THE BEST APPROACH TO MARKET VALUE FOR THIS APPRAISAL.
I(WEJ ESTNATElHEMARKETVAWE,ASOEFI\IED.OFTliESUBJECTPROPERTYAS OF JUNE 20,2008 IDbe$ 550000
. I (We) cerllfy: that 10 the best of my (our) knowledge and belief, the facls and dala used herein are true and correcl; that I (we) personally Inspecled the subjecI properly
and Inspected a~parable sales cited In lhls repore and tha~we) have no undlsclosed IntereSl. present or prospeclive therein.
. Appralser{s) .a $. ./ J!! Review Appraiser
GERAlD B. SUCK SRA RAA (If applicable)
Prqrt.ury Ln Form 04188
Produc.duUlgAO......IIXl.2:JU7n_____.
Slick & Associates, Inc.
ODld 0 llIdNOl
Inspecl Property
TIM undersigned "as recited three rec.nl saln a' praperUes maSI Ill'I'Ifll.r .nd praxlinat. 10 Subject .nd hs canslder.d Iheu In Ih. mark.t analysis. Th. d.scrlptlan Includes a dollar
IdJUSI...nl. r.f1ecllng mart:el r.acllon 10 Ut058 Ile..s 0' significant v.rl.llon bel...n Ih. Subject and comparabl. propenles. If a sfgnlnc.nl lIem In Ih. comp.r.bl. properly Is sup.rlor
'., or _a,e f.vor.bl. lhan, Ille Subject prop.rty, . .,.us (.) .djustm.nl Is mad., tllus ,educlng the IndlClt.d vllu. 01 subj.ct; II . slgnlllc.nl II... In ,... comparabl. Is Inf.rlor 10.
ot I.s. r.vor.ble than. tile subject propeny. . plus (.) adJust..anl Is mlde. thus Incr.aslng Ih. ,ndlcal.d nlu. 0' lh. Subj.Ct.
ITEM SUBJECT COMPARABlE NO. 4 COMPARABlE NO.5 COMPARABLE NO. 6
ROUTE 994 MILL ROAD LINCOLN TVIIP.
Address JAMES CREEK. SCHELLSBURG PA ENTRIKEN PA
I_toc;........ ';'
Sales PrIce $ N/A 2";' .< $ 200 000 ... ..' . $ 259.812 ... ........ . $
Pltc:e(ACRE $ III $ 2125 III .. $ QOOlll' $ III
Oala Scuce INSPECTION MLS # 0012055 APPRAISER'S RECORDS
VALUE ADJUSTMENTS DESCRIPTION I .(.IS_ DESCRIPTION I .(.IS_ DESCRIPTION I .(.IS_
Sales ... Financlng 'iL '.. ....... CASH -0- UNKNOINN , -0-
C_ .............. NONE -0- NONE -0-
Dille d SaIelTIme N/A 6/05 : -0- 8101 : +75000 :
Locallon RURAUAVG RURAUAVG , -0- RURAUAVG - +75000
SlelVIew NOTHING ADVE EQUAL : -0- INFERIOR : +150 000 :
ACREAGE 272.00 ACRES + 94.08 ACRES +1- : +350 000 288.68 ACRES +1-: -25 000 :
WATER NONE NONE , -0- NONE , -0-
SEWER NONE NONE : -0- NONE : -0- :
: -0- : -0- :
Net Adl. (lO/.ll~ + . $ 350oo~$ 275000~$
Indic_ Value
d Subtecl $ 550 000 $ 534 812 $
-
.
SLICK & ASSOCIATES, INC.
LAND APPRAISAL REPORT
Fie No. 07188-EL
"'-YlanIf...._
~.....ACI.........,.2J4.1m-..cirJllb.c:ll
ADDENDUM
BlllTOW8I: N1A
Pl'OPlIfIv Adlt'ess: ROUTE 994
ClIv: JAMES CREEK
lender: lliOMAS R HOBBS ESTAlE C/O ATTY. DAVID LENOX
File No.: 07188-EL
C_ No.:
Stale: PA ZCl: 16657
CONDmONS OF APPRAISAL
THIS IS A SUMMARY APPRAISAL. THE INCOME APPROACH IS NOT APPLICABLE TO THE APPRAISAL.
INFORMATION IS FROM SOURCES BELIEVED RELIABLE, BUT NO GUARANTEES ARE GIVEN.
ADDITIONAL COMMENTS
I CERTIFY THAT THIS REPORT HAS BEEN PREPARED IN CONFORMITY WITH THE REQUIREMENTS OF
THE CODE OF PROFESSIONAL ETHICS AND THE STANDARDS OF THE PROFESSIONAL APPRAISAL
PRACTICE OF THE APPRAISAL INSTITUTE.
AddencUn Page 1 0/ 1
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: N/A FileNo.: 07188-EL
Property Address: ROUTE 994 Case No.:
City: JAMES CREEK State: PA Zip: 16657
lender: THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date: JUNE 20, 2006
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
APPRAISER'S LICENSE
Borrower: N1A
Property Address: ROUTE 994
CitY. JAMES CREEK
L nder: R. HOBBS ESTATE 0 ATTY. DAVID LENOX
File No.: 07188-EL
Case No.:
State: PA
Zip: 16657
d
-~~
~ ;;1 .' :.: CQih'li1(1nie:altit ~ '. jhiil.;';j\:;::- /'C(';:"Q 4":'ryg~34'3 '
BU~UOf ~ro:::~~~:~tO$f '. :.: nal~~~J:;'j,.:J/" ;'~,t~"1;.;.,t
PO Bn t649 HaCTwburK PA:i.1JOS::2cs49
~tl.
".,.';'.:-;'->"
, '.~-:~,:-;. ~~ "j
t1lr;iir~teSfatj5
..:~";":~-~',>,,~;/: :.. .-t
~""j"i~~.lCJ~'&$\;
Number
.;.i;t~~:.~~~:- ~i.;~~~~~~ - . ;5;-;:'JiA~:{' .:,';:,;. ~.~
;-.'r. ',:~ RL(JbQ$';~C}. . ':'" '.;'
:;i~:~.;(.\W ''%JJ>>?'. ji~""<" i~j
,.
.:i
:.",
> ,,,""., Alltlve .},
,<,;,'.':i? :;\,..,.... "ii', .:'
i!:"Jlili@lI terttr~~n';D.t~,
'~j~?:...,~;l/ ~~;ii~~:~!'
(:'~;,r()-rQ
245 ROUTE 36 SOUTH, P.O. BOX 319, ROARING SPRING, PA 16673 PH. (814) 224-4006 FAX (814) 224-5778
SLICK & ASSOCIATES, INC.
USP AP COMPLIANCE ADDENDUM
Borrower NJA
Propeny Adchss ROUTE 994
City JAMES CREEK County HUNTINGDON
LenderfClient THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX
File No, 07188-EL
Order #
Stale ~ ZipCode 16657
Client Reference #
00
The putpOle of the appraisal is .to provide an opinion of market value of the subj.ct property asd.fined in this report, on behalf of th. appraisal
company facilitating th....ignment for the ref.renced cli.ntas the int.nded user ofth. report. Th. Dilly function of th. appraisal is to ..sistlh.
cli.nt mentioned in this report in evaluatingth. subject property for lending purposes. Th. use of this appraisal by anyone oth.r than the stat.d
intended user, or for any oth.r us. than the stated intended use, i. prohibited.
Th. purpose ofth. appraisal iuo provide an opinion of mark.t valu. ofth. subject property, as defin.d in this report, on b.half of the appraisal
company facilitating the as.ignmentfor th.rcfcrenced cli.ntllth. intended u.er ofthisreport. The only function of the apprai.al i. to a..i.t Ihe
e1ient mentioned in this report in evaluating the subject property Real Estat. Owned (REO) purpos... Th. use ofthi. appraisal by anyone
other than the .tated intended uoer, or for any other use than the stated int.nded use, i. prohibited.
Th. PUrpOlC of this appraisal is to llf'ovlde an opinion of market value, on b.half of the appraisal company facilitating the assignm.nt for
the referenced client as the intended uoer ot thIS report. Th. only function ofth. appraisal is to assist the cli.nt mentioned in this report in
evaluating the subject property for lending ~~oses .. Th. u.. of this appraisal by anyone other than the .tated int.nded
user. or for any other use than the stated mten use IS prohibited.
o
Apprai.al written in a summary R.port format and th. USPAP D.partur. Rul. h...!!!l1 b..n invok.d.
Thi. is a Limited Appraisal written in a limited R.port form.t and the USPAP D.partur. Rul. has b..n invok.d .. di.clo..d in
the body or addenda of the r.port. Th. cli.nt ha. agreed that a Limit.d Apprai.al i. .umcientfor its purpo....
Th. appraisal is based on the information gathered by the apprai.er from public record., other identified .ource., insp.ction of the subject
property and neishborhood, and selection of comparabl. .al.., li.ting., andlor rentais within th. subj.ct mark.t area. Th. original sourc.ofth.
comparables i. shown in the Data Sourc. ..ction of the mark.t grid along with th. .ource of confirmation, if availabl.. Th. original .ourc. i.
pres.nted first. Th. sources and data arc con.ider.d r.liabl.. Wh.n conflicting information w.. provided, the .ource d..m.d mo.t reliabl. ha.
been used. Data b.li.ved to be unr.liabl. was not included in th. report nor used a. a ba.i. for th. valu. conclusion. Th. .xt.nt of analysis
applied to thia as.ignment may b. further imparted within Ih. report, th. Appraise~s C.rtification b.low and/or any oth.r Stat.m.nt of Limiting
Conditions and Apprai..~s C.rtification such as m.y b. utilized within th. Fr.ddi. M.c form 439 or Fanni. M.. form lOO4b (dated 6/93). wh.n
applicable.
I certify lha~ to the best of my knowledg. and beli.f:
Th. statements of fact contained in this r.port .r. true and correct.
Th. reported analys.s, opinions, and conclustions ar. limit.d only by the r.ported assumption. and limiting conditions, .nd .re my p.rsonal,
impartial. and unbiased professional analyses. opinions, and conclusions,
I hav. no pre..nt or prospective interest in the property th.t i. the subject of this r.port, and no personal int.rest with r.spectto the parties
involved, unless oth.rwise .t.ted within the r.port.
I h.v. no bilS with r.spect to th. property that is th. subj.ct ofthi. r.port or to the parti.. involved with Ihi. ...ignm.nt.
My engagement in this assignment was not contingent upon developing or reporting predetermined results.
My compensation for completing this assignment is not contingent upon the development or reponing of a predetermined value or direction in
value that favors the cause of the client, the amount or the value opinion. the attainment of a stipulated result, or the occurrence of a subsequent
ev.nt directly r.lated to the int.nd.d us. of Ihi. appr.isal.
My .naly.... opinion.. .nd conclu.ions wer. d.v.lop.d, .nd this r.port has b..n pr.p.r.d, in conformity with the Uniform St.ndard. of
Profcss},l!!l.1 Appraisal ~ctice.
(hive tAl or have not U made I personal inspection ofahe property that is the subject of this report. (if more than one person signs this report,
this certification must cl.arly specify which individuals did .nd which individu.ls did not make a per.onal inspection ofth. apprai..1 property.)
No one provided significant professional assistance to the person signing this report. (If there are exceptions, the name of each individual
providing.igniticant professional assistance must be stated.)
NOTE: /" the case of any conflict with a cliellt provided certijicatiOl' (i.e., Famlie Mae or Freddie Mac). this revised certificatioll shall take
recedence.
Supervisory Appraiser's C.rtification: If. sup.rvisory appr.is.r .ign.d the .ppr.is.. r.port, h. or .h. c.rtifies .nd agre.. that: I dir.ctly
supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of
th..ppr.i..r, .gre. to be bound by the .pprais.~. certific.tions numb.r.d 2-7 .nd 9 on the second page of Freddi. Mac Form 439 6-93/Fanni.
Ma. Form 1004B 6-93, or the third p.g. of Form 2055, .nd .m taking full r.spon.ibility for the appraisal r.port.
APPRAISER:
SignatUre: ~ ,...,~ 13. J/ I{;"t
Nam.: GERALD B. SLICK. SRA RAA
D.te the Report was Signed: MARCH 15. 2007
State Certification I#: RL-000274-L
or Stale Licen.. N:
State: PA
Expiration Date ofCcrtification or License: 06/30/07
SUPERVISORY APPRAISER (only if required):
SignatUre:
Nam.:
D.te the Report was Signed:
Stat. C.rtification N:
or Stat. License N:
Stat.:
Expiration Date of Certification or License:
o Did in.pect subject property 0 Inspected Com parables
B Interior & Exterior B Interior & Ext.rior
Exterior only Exterior only
USI'....C:""O""_.4/llQ
I of!
"......... Aa.......1OO.234.11V_......CIIIII
File No. 07188-EL
DEFINmON OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale. the buyer and seller. each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal
consideration for the property sold unaffected by special or creative financing or sales concessions" granted by anyone associated with the
sale.
"Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normally paid by $ellers as a result of tradition or law in a market area; these costs are readily identifiable since the
seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property
by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any
adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment should approximate the market's reaction to the financing or concessions based on the Appraiser's Judgment.
STATEMENT OF LIMITING CONDmONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the
following conditions:
1. The appraiser will not be responsible for mauers of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised
on the basis of it being under responsible O'Mlership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is
included only to assist the reader Of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data
sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the
appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question. unless specific
arrangements to do so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their
contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous
wastes, toxic substances. etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal
research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden
or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic
substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no
guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the
appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment
of the property.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such
items that were furnished by other parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional
Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is Subject to satisfactory completion.
repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can qistribute the
appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to
any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the
mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally
approved finaocial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia;
except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s)
without having to obtain the appraiser's prior written consent. The appraiser's wriuen consent and approval must also be obtained before
the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
Vacant Land
Page 1 of2
APPRAISERS CERTIFICATION: The Appraiser certifIeS and agrees that:
File No. 07188-EL
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate
to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the
market reaction to those items of significant variation. If a significant item in a comparable property Is superior to . or more favorable than,
the subject property. I have made a negative adjustment to reduce the adjusted sales price of the comparable and. if a significant item in a
comparable property Is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted
sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my
knowledge, that all statements and information in the appraisal report are true and correct.
3, I stated in the appraisal report only my own personal, unbiased. and professional analysis. opinions. and conclusions. which are subject
only to the contingent and Umiting Conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal
interest or bias with respect to the participants in the transaction. I did not base. either partially or completely, my analysis and/or the
estimate of market value in the appraisal report on the race, color. religion. sex. handicap. familial status. or national origin of either the
prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the
subject property.
5. I have no present or contemplated future interest in the subject property. and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the property.
6. I was nOl required to report a predetermined value or direction in value that favors the cause of the client or any related party.
the amounl of lhe value estimate. the attainment of a specific resull, or the occurrence of a subsequent event in order to receive my
compensation and/or employmenl for performing lhe appraisal. I did not base the appraisal report on a requested minimum valuation. a
specific valuation. or the need to approve a specifIC mortgage loan.
7. I performed lhis appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of lhis appraisal,
with the exception of the departure provision of those Standards, which does nol apply. I acknowledge that an estimate of a reasonable
time for exposure in the open market is a condition in lhe definition of market value and the estimate I developed is consistent with the
marketing time noted in the neighborhood section of this report. unless I have otherwise staled in the reconciliation section.
B. I have personally inspected the Subject property and lhe exterior of all properties listed as comparables
in the appraisal report. I further certify that I have noted any apparenl or known adverse conditions in the subject improvements. on the
subject site, or on any site within the immediate vicinity of the subject properly of which I am aware and have made adjustments for these
adverse conditions in my analysis of the property value to the extent that I had markel evidence 10 support them. r have also commented
about the effect of the adverse conditions on the marketability of the subject property.
g. I personally prepared all conclusions and opinions about the real estate that were set forth in lhe appraisal report. If I relied on
significanl professional assistance from any individual or individuals in the performance of lhe appraisal or the preparation of the appraisal
report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal
report. I certify that any individual so named is qualified 10 perform the tasks. I have not authorized anyone 10 make a change to any item in
the report; therefore. if an unauthorized change is made to the appraisal report. I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal reporl, he or she certifies
and agrees that: I directly supervise the appraiser who prepared the appraisal report. have reviewed lhe appraisal report, agree with the
statements and conclusions of the appraiser. agree to be bound by the appraiser's certifications numbered 4 through 7 above. and am laking
full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: ROUTE 994. JAMES CREEK, PA 18657
APPRAISER:
SUPERVISORY APPRAISER (only if required)
S~lure: Jf(,~~ 13 ~A;~
Name: GE LD B. SLICK. SRA RAA
Date SIgned: MARCH 15. 2007
State CertiflC8tion #: RL-000274-L
or State Ucense #:
State: PA
Expiration Date of Certification or Ucense: 06/30/07
Signature:
Name:
Date Signed:
State Certification #:
or State Ucense #:
State:
Expiration Dale of Certification or Ucense:
RL-QOO274-L
o Did 0 Did Not Inspect Property
Vacant Land
Page 2 of 2
Order Form
G..nol Status:
FileNo.: 07187-E loan Type: PHYSICAL INSPECTION 2127107 0._
Case No: Job Type: Ordered:
0iIrt fie No.: Property Type: OLD Due:
Tracking No.: Form Type: 1004 URAR Assigned:
Filename: C:\PROGRAM FILESIACI32\1004URAR\07187-E.ACI Inspected: JUNE 20, 2006
~Inf_ Reviewed:
Address: T-378. TODD TOWNSHIP Signed: MARCH 15.2007
CIty: JAMES CREEK County: HUNTINGDON St: ~ Zip: 16657 F axlEDI:
location: TODD TOWNSHIP Map No:49-o3-10.1 Census: 42-061-0236 Denvered:
legal: DEED BOOK VOLUME 253 PAGE 562 Invoiced: MARCH 15. 2007
Sale Price: N1A o Reftnance loan AmI.: Date 01 Sale: N/A User Denned: KWG
Rooms: 5 Bedrooms: 3 Baths: 2F -~sed Value: $270 000 Canceled:
IIorr-. Fil!l: last: N/A Owner: THOMAS R. HOBBS EST Paid:
C1_1nronn.tion [1g Ordered 8y ~ BUilD ~ SandTa
Client: THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX Billing Informootlon
Branch: Invoice No.:
Address: 130 WEST CHURCH STREET Fee: $300.00
City: DILLSBURG State: PA lip: 17019
Phone: Fax: 717-432-0426
Contact: DAWN /717-432-9666
Mise:
Client inf_ O BUITo o Send To
Client: Tax: - $0.00
Branch: Total Amount: $300.00
Address: Payment 1:
CIty: State: Zip: Check I: - Dale:
Phone: Fax: Payment 2:
Contact: Check I: Dale:
Mise: Due: $300.00
AppnolseriBtoker.lnf........tIon
Name: GERALD B. SLICK. SRA RAA Supervisor:
Cen I: RL-000274-L Slale: PA Cerll: State: -
license I: State: - license #: Stale: -
EXD. Date: 06/30/07 Exn. Date:
Prino.-y Cont.ct Information
Primary Contact: Home Phone:
Best Ume to call: Work Phone:
Secondary Contact Inf........tlon
Secondary Contact: Home Phone:
Bast Ume to can: Work Phone:
Special Instructions
eom-.
.
PnIdIadUllng ACl.....IOO.234..m_~
SLICK & ASSOCIATES, INC.
REAL ESTATE APPRAISALS
File No. 07187-E
APPRAISAL OF
THOMAS R. HOBBS ESTATE PROPERTY
LOCATED AT:
T-378, TODD TOWNSHIP
JAMES CREEK, PA 16657
FOR:
THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX
130 WEST CHURCH STREET
DILLSBURG, PA 17019
BORROWER:
N/A
AS OF:
JUNE 20, 2006
BY:
GERAlD B. SLICK, SRA RAA
RL-000274-L
245 RT. 36 SOUTH, P.O. BOX 319, ROARING SPRING, PA 16673 PH:(814)224-4006 FAX:(814)224-5778
SLICK & ASSOCIATES, INC.
REAL ESTATE APPRAISALS
File No. 07187-E
MARCH 15,2007
DAWN' 717,432-9666
THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX
130 WEST CHURCH STREET
DILLSBURG, PA 17019
File Number: 07187-E
DEAR ATTORNEY LENOX:
In accordance with your request. I have appraised the real property at:
T-378, TODD TOWNSHIP
JAMES CREEK, PA 16657
The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved.
The property rights appraised are the fee simple interest in the site and improvements.
In my opinion, the market value of the property as of JUNE 20,2006
is:
$270,000
TVI.{) HUNDRED SEVENTY THOUSAND DOLLARS
The attached report contains the description. analysis and supportive data for the conclusions.
final opinion of value. descriptive photographs, limiting conditions and appropriate certifications.
SINCERELY,
~13#U
GERAlD B. SLICK, SRA RAA
RL-000274-L
245 RT. 38 SOUTH, P.O. BOX 319, ROARING SPRING, PA 16673 PH:(814)224,4006 FAX:(814)224-5778
ProJlwty O'......oUon File No. 071 -
~A<ttess T-378 TODD TOWNSHIP CIlv JAMES CREEK State PA Zio c- 16657
00 DEED BOOK VOLUME 253 PAGE 562 Coontv HUNTINGDON
Assessor's Parcel No. 24134 Tax Vear 2007 R.E. Taxes $ 4 945.00 Soedal Assessments $
Ilolrower N/A CooentOwner THOMAS R. HOBBS ESTATE OcCWlllnt: IX I Owner L J Tenant I I Vacant
- I X I Fee SImole I I leasehold I ProIect T me I I PUO L J Condominium (HUOIVA onlvl HOAS -0- 1Mo.
Nelghbcrhood or Pmiect Name TODD TOWNSHIP MaD Reference 49-03-10.1 Census Tract 42-061-0236
Sate Prtce S N/A Oats 01 Sale N/A OescriDliDn and S amount 01 loan ch8raesICDrIC8SSIons tD be ~ Ilv _ N/ A
lender/C1Ient THOMAS R. HOBBS ESTATE C/O ATTY. Address 130 WEST CHURCH STREET .DILLSBURG PA 17019
AnoraI.. GERALD B. SLICK SRA RAA Address P.O. BOX 319 ROARING SPRING PA 16673
location _ UrtJan ~ Suburban ~ Rio-al P...domtlUlnt Slngl. f.mlly housing I'r-esIont _ ..." u.ncI u.. ch.nge
Bulk up _ Over 75% 25.75% Uncle< 25% DCCUpancy ~E ~r One family ~ ~ Net likely 0 likely
Growlh rate -RapId ~ Stable ~ Slow ~ Owner ~ low ~ 2-4 lamlly ----=Q:. In process
~ ~
Property - Increasing ~ Stable Fa OecI,nng Tenant 350 HIah 1 00+ W1HaniIy ----=Q:. To:
Oemand/supply - Shortage In-.:e F= <NerSiWf Fi V8Qlrt(ll.5%) - Predominant !!Ill Commerdal -0-
lime lk1der 3 mas. 3-6 mos. Over 6 mos. _r-"" 125 I 50 ~VAC I 85%
Neola: Race _ _ racl.1 compostuon Dr _ nelgh_ .... ncJt .pprels.1 factDO'S.
Neighborhood boundaries and cherecterlstics: THE SUBJECT DWELLING IS LOCATED IN A RURAL AREA IN TODD TOWNSHIP
HUNTINGDON COUNTY WITH NO DEFINED NEIGHBORHOOD BOUNDARIES.
Fectors that affect the marketability ofthe properties In the neighborhood (proximity to employment and amenities. employment stability. appeal to market. etc.):
THERE ARE NO APPARENT ADVERSE FACTORS WHICH SHOULD AFFECT THE SUBJECT'S MARKETABILITY. STABLE PRICES
AND AN AVERAGE MARKETING TIME DEMONSTRATE A BALANCE IN SUPPLY AND DEMAND. THERE IS ADEQUATE ACCESS
TO SHOPPING AND EMPLOYMENT. THE SCHOOL DISTRICT PROVIDES TRANSPORTATION FOR ALL STUDENTS IN GRADES
ONE TO TVIIELVE. NO ADVERSE INFLUENCES WERE OBSERVED.
Market conditions In the subject neighborhood (Including support fDr the abDve conclusions related tD the trend of property velues. demand/supply. end """keling time
~ - such 85 data on competitive properties for sale in the neighborhood. description of the prevalence of sales and financing concessions. etc.):
SEE ATTACHED ADDENDUM.
ProJ_t Infor....tlon for PUDs (If appllceble) . - Is the developer/builder In control of the Home Owners' Association (HOAl? UVES UNO
Approximate lOtal ~ 01 units In the subject project Approximate total number 01 units for sale In the subject project
Describe common elements and recreatfonal fetiliUes:
Otmensions IRREGULAR T opogrephy ROLLING
SIte erea 28.54 ACRES +/- Corner lot U Ves !XI No Size TYPICAL FOR AREA
Specific zoning classlficaUon and description NONE (COMMON TO THE AREAl Shape IRREGULAR
Zoningcompliance 0 legal ~,legel/1Ol~O''Y(Grandfethereduse) UUIegaI !XI Nozoning Drainage APPEARS ADEQUATE
HIghest & best use as imoroved: X Present use Other use (exolaln) View NOTHING ADVERSE
UUlltl.s Public Other Ott-_Improvements Type per Private landscaping TYPICAL
Electrlcliy ~ WELL Street SHALE ~ Driveway Surface SHALE
Gas Curb/gutter NONE - Apparent easements NONE APPARENT
Water Sidewalk NONE FEMA Spedal Flood Hazard Area U Ves !XI No
R ON SITE Street lights NONE =
Senltaly sewer = FEMA Zone Map Date
SIorm _ Ailey NONE FEMA MeD No.
COrMlef1ts (apparent adverse easements. encroachments, special assessments. slide areas, illegal or legal nonconforming loning. use, etc.): THIS AREA
PROVIDES A GOOD ENVIRONMENT FOR THE SUBJECT BEING APPRAISED. THERE ARE NO FACTORS THAT WILL
NEGATIVELY AFFECT THE MARKETABILITY OF THE SUBJECT. PRIVATE WELL AND ON-SITE SEPTIC ARE COMMON TO AREA.
GENERAL OESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No.oIUnils ONE Foundation CONCRETE Sl8b NO Area Sq.Ft. 1456 Roof ~
No. 01 Stories 1-1/2 Exterior WaOs WOOD en.... Spece NO % Finished 0 CeHlng _ X
Type (OetJAtt.) DETACHE[ Roof Surface ASPH. SH. Basement FULL CeHlng OPEN JOIST :: -~
Design (Style) A FRAME Gutters & Dwnspts. ALUMINUM Sump I'm1> NON E Walls C. BLOCK
Exlsti'9'f'roposed EXISTING Window Type WOOD D.H. Dampness NONE NOTED Floor UNFINISHE[ ::==
Age (Vrs.) 17 YEARS SIormIScreens THERMONE~ Selllement NONE NOTED O\islde Enry YES
ElfecliYeAoe IVrs.l 10 YEARS Manulactured House NO Infestation NONE NOTED
ROOMS Faver Uvino Otnino Kitchen Den F amov Rm. Rec. Rm. Bedrooms I Beths laundrY Other Area Soh
Ilesemert 1456
levell 1 1 2 2F 1 1458
level 2 1 0
. 0
. Finished area ._ orede contains: 5 Rooms' 3 Bedroom 'sl: 2F Beth/s' 1 456 S uere Feet of Gross Uvino Area
. INTERIOR Materiels/CondItion HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Floors CARPETNlNYUA Type BB Refrigeretor 00 None ~ Ftepiece(s) I _ 8 None 00
Wans PLASTERlA Fuel ELEC Range/Oven Stairs Petio Gerage I of cars
T rtnVFlnIsh OAK/STAINED/A ConcItionA VG Disposal ~ Drop Stair 0 Oeck FRONTIREA ~ Attached
Bath Floor VINYUA COOLING Olshwasher ScuWe = Porch REAR ~ Detached
Bath Wainscot DRYWALUA Centrel YES Fan/Hood i=- Floor = Fence Built-In
Doors HOLLOW CORElA Other NONE Microwave i- Healed Pool 1- Cerpon
ConcItionA VG Washer/llrver Finished WOODSTOVE - 1 Driveway
AdelIlIonel leallKes (speclel energy efficient Items. etc.): USUAL INCLUDING A WOODSTOVE OAK KITCHEN CABINETS OAK BATH CEDAR
PANELING AND A STEEL SHED.
Condition of the Improvements. depreciation (physical. functional, and external). repairs needed. quality of construction remodeling/additions. etc.: PHYSICAL
DEPRECIATION DUE TO NORMAL WEAR AND TEAR. THERE IS NO FUNCTIONAL NOR EXTERNAL DEPRECIATION.
.
Adverse environmental conditions (such as, but not limited to, hazardous wastes. toxic substances. etc.) present In the Improvements. on the site. or In the
Immediate vicinity of the subject properly: NO ADVERSE ENVIRONMENTAL CONDITIONS WERE NOTED DURING THE PROPERTY
INSPECTION AFFECTING THE SUBJECT OR SURROUNDING PROPERTIES.
F......1.IrK Farm 70 1-93
SLICK & ASSOCIATES, INC.
UNIFORM RESIDENTIAL APPRAISAL REPORT
87 E
PAGE 1 OF 2
~... ACt...... tDOlJ4.1lU _.....aIIII
F..... MH Form 1004 6-93
SLICK & ASSOCIATES, INC.
Valuation Section UNIFORM RESIDENTIAL APPRAISAL REPORT File No. 07187-E
ESTIMATED SITE VALUE. ........................... $ 0 Comments on COSI Approach (such as. source of cost eSlimate.
ESTIMATED REPRODUCTION COST -NEW OF IMPROVEMENTS: site value. square foot calculalion and for HU O. V A and F mHA. tha
0weaIng Sq. Fl CP $_ . $ 0 estimaled remaining economic life of Ihe property):
Sq. Ft. CP $_ . 0 THE COST APPROACH WAS NOT DEVELOPED FOR THIS
o APPRAISAL DUE TO THE AGE OF THE SUBJECT AND
o ACCRUED DEPRECIATION.
o
DECK PORCH
GanIga'Carpat _ Sq. Fl CP $ _ .
TotalEstimated~CostNew ....... ........ . $
less . Physical Functional External
~ -0- -0- -0- . $
Depredated Value of /mprovernents . . . . . . . . . . . . . . . . . .. . $
.As-ls.V_ofSllelmprovements................... . $
INDICATED VAWE BY COST APPROACH. . . . . . . . . .. . $
ITEM SUBJECT COMPARABLE NO. 1
T-378, TODD TOWNSHIP LOT 58 SHY BEAVER
Address JAMES CREE PA JAMES CREE PA
Proxlmi 10
Sales Prlca NIA
~Uv.Area $ 0.00 m $ 138.81m
Data arwJIot INSPECTION MLS 1# 2305010
Veriftcatlon Scuces COURTHOUSE COURTHOUSE RECORDS
VAlUE AOJJSIMENTS DESCRIPTION . . s
Sales or Financing NONE
~~ NONE
Dale of SalefTIme 5/05
locatlon RURAUAVG
~.. . FEE SIMPLE
Site 28.54 ACRES +1- .64 ACRES +1_
View NOTHING ADVEF EQUAL
A FRAME CONTEMPORAR':
AVERAGE AVERAGE
17 YEARS +1-20 YEARS +1-
AVERAGE AVERAGE
o
o
o
o
COMPARABLE NO.2 COMPARABLE NO.3
LOT 36, LAKEWOOD MANOR HCR 61
CALVIN PA MILL CREE PA
169900
$ 234.38 m
MLS 1# 1005110
COURTHOUSE RECORDS
DESCRIPTION . t. 5
-0- NONE
-0- NONE
-0- 6/05
+25000 RURAUAVG
-0- FEE SIMPLE
+70000 4.16 ACRES +1-
-0- EQUAL
NO ADJ CONTEMPORAR':
-0- AVERAGE
NO ADJ 5 YEARS +1-
-0- AVERAGE
-0- r....'...... '
-0- 4: 2:
+2 500 768
-0- FULL
-2500 UNFINISHED
-0- AVERAGE
NO ADJ PROP HIA CIA
-0- EQUAL
NO ADJ ONE CAR GAR
NO ADJ DECK
NO ADJ NONE
-0- NONE
-0- EQUAL
95000 X +
180000
$
$ 216.75 m
MLS 1# 2305112
COURTHOUSE RECORDS
DESCRIPTION
-0- CASH
-0- NONE
-0- 12/05
+25 000 RURAUGOOD
-0- FEE SIMPLE
+60 000 59.00 ACRES +1- :
-0- EQUAL
NO ADJ CHALET
-0- AVERAGE
-5000 12 YEARS +1"
-0- AVERAGE
+1,000 T....' ......' .....
+1,000 6: 3: 2F lH '
+7000 1 564 .Ft.
-0- NONE
-0- NIA
-0- AVERAGE
NO ADJ FIA PROP NO CII:
-0- EQUAL
NO ADJ ONE CAR GAR :
+1,000 DECK
+1 000 WOODST 1 FIP :
-0- NONE
-0- EQUAL
91 000 X
.....
.....
lF'
.Ft.
3: 2F
1 456 .Ft.
FULL
UNFINISHED
AVERAGE
ELEC BB ClAIR
USUAL
STEEL SHED
PORCH,DECKS
WOODSTOVE
NONE
USUAL
3: 2F'
1 224 .Ft.
FULL
FINISHED
AVERAGE
ELEC HP CIA
EQUAL
ONE CAR GAR
PORCH, DECK
1 FIP
NONE
EQUAL
. ," . jl.:t~~ .,
: . > ':
, ,
. 1. .....
, $
339 000
-0-
-0-
-0-
-0-
-0-
-70000
-0-
NO ADJ
-0-
NO ADJ
-0-
-1,000
-500
-1 000
+5,000
NO ADJ
-0-
+1 000
-0-
NO ADJ
+1,000
-1 000
-0-
-0-
66 500
272 500
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Oate. Price and Data NONE LAST 36 NONE LAST 12 MONTHS NONE LAST 12 MONTHS NONE LAST 12 MONTHS
Scucefarprior-' MOS. VER. @ VERIFIED BY PUBLIC VERIFIED BY PUBLIC VERIFIED BY PUBLIC
.., of COURTHOUSE RECORDS RECORDS RECORDS
Analysis of any current '9Hment of sale. opIIon. or listing of the subject property and analysis of any prior sales of ~ and CClI11l8'8b1es wiIIin ooe yea: of !he date rJ appraisal:
THE SUBJECT PROPERTY IS NOT UNDER AGREEMENT OF SALE. NOR HAS IT SOLD IN THE PAST THREE YEARS. ALL
COMPARABLES ARE CLOSED SALES. THEY HAVE NOT SOLD IN THE YEAR PRIOR TO THE ABOVE DATE OF SALE.
INDICATED VALUE BY SALES COMPARISON APPROACH. . . .... .. .. ... . .. . .. .. . . . .. . . . .. . . .. .. .. . . . . . . .. .. . . . $ 270000
INDICATED VAWE BY WCOME APPROACH EstimaledMarkatRent I lMo.xGrossRent NI =$ NIA
Ttis _alsalls made X 'as is' "'*'" 10 !he repai'5. alterations. inspections or condIIons HSIed below sutject 10 completion per plans and speciIIcations.
Cordb1sofAppraisal: SEE ATTACHED ADDENDUM.
Final Reconclliatlon: SEE ATTACHED ADDENDUM.
The purpose of this appraisal is 10 estimate lhe market value of the real property lhat Is the subject oIlhls report. based on tha above Condilions and !he CI!f1IIcation. contlngenI
and Iimlllng Condhions, and market value deftnltion thai are 5I8Ied In the 8lUlChed F_ Mac Form 4:RVFannIe Mae Form 1004B (Revised 6/93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF JUNE 20 2006
(WHICH IS DATE OF INSPECTION AND THE EFFECTIVE DATE OFlHS REPORl) TO BE S 270,000
. APPRAISE . L) SUPERVISORY APPRAISER (ONLY IF REQUIRED):
lft /V , Sklnature
Name G RALD B. SLICK. SRA RAA Name
Dale Rapon Slaned MARCH 15, 2007 Date Re S ned
Stale CartifIcatlon # RL-000274-L Stale PA State Certification #
Or Slate Ucanse # Slate Or Slate Ucense #
'_""'....70 .." PAGE 2 OF 2
PtOlkad UIIllf ACItoflw1n.1II01:J4J7l1www.adwlb.com
Slick & Associates, Inc.
OOid ODldNot
Inspecl Property
State
State
F....... Form 1004 6.93
ADDENDUM
Borrower: N1A
I'n:lIlertv Adctws: T -378. TODD TOVIINSHIP
Ciy: JAMES CREEK
l8nder. TliOMAS R. H088S ESTATE C/O ATTY. DAVID LENOX
File No.: 07187-E
CeseNo.:
Stale: PA ZiP: 16657
Neighborhood Market Conditions
CONVENTIONAL FINANCING IS READILY AVAILABLE AT RATES PURCHASERS CONSIDER ATTRACTIVE
AND SELLERS NEED NOT NEGOTIATE A SALE ON FINANCING RELATED CONCESSIONS. THERE ARE
ONLY A FEW PROPERTIES THAT ARE ON THE MARKET AT ANY ONE TIME IN THIS MARKET AREA.
LOCAL MARKET CONDITIONS PRESENTLY CONSTITUTE A HEALTHY SUPPL YIDEMAND RELATIONSHIP.
MARKETING TIME IS BETWEEN 90 TO 180 DAYS.
Comments on Sales Comparison
THE SUBJECT AND COMPARABLES ARE SIMILAR IN LOCATION, OVERALL APPEAL, STYLE AND VIEW. THE
SUBJECT IS IN THE RURAL AREA OF HUNTINGDON COUNTY. THIS AREA OF HUNTINGDON COUNTY IS SPARSELY
POPULATED AND SPREAD OUT OVER A LARGE AREA. THERE ARE ONLY A LIMITED NUMBER OF COMPARABLE
SALES TO CHOOSE FROM IN A YEARS TIME. THEREFORE, DUE TO THE LACK OF COMPARABLE SALES DATA,
COMPS MAY EXCEED FNMA AND FHLMC GUIDELINES FOR TIME OR ADJUSTED SALES PRICE OF COMPARABLES.
NO SIGNIFICANT APPRECIATION FOR TIME HAS BEEN NOTED IN THE PAST 12-24 MONTHS IN THE SUBJECT
MARKET AREA AS THE MARKET HAS BEEN RELATIVELY STABLE. IT IS COMMON AND ACCEPTABLE TO EXCEED
TIME OR ADJUSTED SALES PRICE OF COMPARABLES IN THIS AREA. THE THREE COMPSUSED ARE CONSIDERED
THE BEST AVAILABLE AT THIS TIME. COMPS #1 AND #2 EXCEED FNMA GUIDELINES FOR AGE AND ADJUSTED
SALES PRICE. THE NUMBER AND SIZE OF ADJUSTMENTS ARE NECESSITATED BY MARKET MEASURED
DISSIMILARITIES AND TEND TO INCREASE THE RELIABILITY OF THE ESTIMATE OF MARKET VALUE. THE SUBJECT
IS COMPARABLE TO THE OTHER HOMES IN THE AREA.
Conditions of Appraisal
THIS IS A SUMMARY APPRAISAL.
INCOME APPROACH NOT APPLICABLE TO THIS APPRAISAL. INFORMATION FROM SOURCES BELIEVED
RELIABLE, BUT NO GUARANTEES ARE GIVEN. I HAVE CONSIDERED RELEVANT COMPETITIVE LISTINGS
AND/OR CONTRACT OFFERINGS IN THE PERFORMANCE OF THIS APPRAISAL AND IN THE TRENDING
INFORMATION REPORTED IN THIS SECTION. IF A TREND IS INDICATED, I HAVE ATTACHED AN
ADDENDUM PROVIDING RELEVANT COMPETITIVE LISTING/CONTRACT OFFERING DATA. THE SUBJECT
IS APPRAISED IN FEE SIMPLE TITLE ASSUMING NO LIENS OR ENCUMBRANCES OTHER THAN NORMAL
COVENANTS AND RESTRICTIONS OF RECORD. THE BUILDING SKETCH HAS BEEN INCLUDED IN THE
APPRAISAL TO ASSIST THE READER IN VISUALIZING THE SUBJECT PROPERTY. THE APPRAISER HAS
MADE NO SURVEY AND MAKES NO REPRESENTATIONS AS TO THE PLANS ACCURACY. THE USE OF
THE REPORT IS SUBJECT TO THE REQUIREMENTS OF THE APPRAISAL INSTITUTE RELATING TO
REVIEW BY ITS DULY AUTHORIZED REPRESENTATIVES. IN THE ABSENCE OF CORE BORINGS, OR
OTHER TESTS. IT HAS BEEN ASSUMED THAT THERE ARE NO MINERAL DEPOSITS OF A COMMERCIAL
NATURE UNDERLYING THE SUBJECT PROPERTY. FOR THE SAME REASON, IT HAS BEEN ASSUMED
THAT THERE ARE NO UNUSUAL SUB-SOIL CONDITIONS THAT WOULD ADVERSELY AFFECT THE
MARKETABILITY AND/OR THE MARKET VALUE OF THE SUBJECT. UNLESS OTHERWISE STATED IN THIS
REPORT, THE EXISTENCE OF POTENTIALLY HAZARDOUS SUBSTANCES, INCLUDING BUT NOT LIMITED
TO, ASBESTOS, POLYCHLORINATED BIPHENYLS, LEAD BASED PAINT, PETROLEUM, LEAKAGE OF
AGRICULTURAL CHEMICALS, AND/OR TOXIC CONDITIONS, VllERE NOT CALLED TO THE ATTENTION OF
NOR DID THE APPRAISER BECOME AWARE OF SUCH DURING THE APPRAISERS INSPECTION OF THE
PROPERTY. THE APPRAISER HAS NO KNOWLEDGE OF THE EXISTENCE OF SUCH MATERIALS IN OR
ON THE PROPERTY UNLESS OTHERWISE STATED. THE APPRAISER, HOVIIEVER, IS NOT QUALIFIED TO
TEST SUCH SUBSTANCES OR CONDITIONS. ALTHOUGH THE PRESENCE OF SUCH SUBSTANCES SUCH
AS ASBESTOS, UREA-FORMALDEHYDE FOAM INSULATION, OR OTHER HAZARDOUS SUBSTANCE OR
ENVIRONMENTAL CONDITIONS MAY AFFECT THE VALUE OF THE PROPERTY, THE VALUE ESTIMATE IS
PREDICATED UPON THE ASSUMPTION THAT THERE IS NO SUCH CONDITION ON OR IN THE PROPERTY,
OR IN SUCH PROXIMITY THERETO THAT IT WOULD CAUSE A LOSS IN VALUE. NO RESPONSIBILITY IS
ASSUMED FOR ANY SUCH CONDITIONS, NOR FOR ANY EXPERTISE OR ENGINEERING KNOWLEDGE
REQUIRED TO DISCOVER THEM. IF THERE ARE ANY QUESTIONS, THE CLIENT IS URGED TO RETAIN
THE SERVICES OF AN EXPERT IN THIS FIELD.
Final Reconciliation
THE APPRAISER CONSIDERED THE SALES COMPARISON APPROACH TO BE THE BEST INDICATOR OF MARKET
VALUE. THE COST APPROACH WAS NOT DEVELOPED DUE TO THE AGE OF THE SUBJECT AND ACCRUED
DEPRECIATION. DUE TO THE LACK OF RENTAL DATA, THE INCOME APPROACH WAS NOT INCLUDED. LASTLY,
THIS APPRAISAL'S INTENDED USE IS PERSONAL; NO OTHER USE IS INTENDED.
Additional Comments
I CERTIFY THAT THIS REPORT HAS BEEN PREPARED IN CONFORMITY WITH THE REQUIREMENTS OF THE CODE
OF PROFESSIONAL ETHICS AND THE STANDARDS OF THE PROFESSIONAL APPRAISAL PRACTICE OF THE
APPRAISAL INSTITUTE.
Addendum P_ 1 d 1
DIMENSION LIST ADDENDUM
Borrower: N1A
Prooertv Address:T-378. TODD TOWNSHIP
City: JAMES CREEK
T
Slale: PA
File No.: 07187-E
Case No.:
GROSS BUILDING AREA (GBA) 2.912
GROSS LIVING AREA (GLA) 1 .456
Area!s}
living
LeW!! 1
L....I 2
Level 3
Other
Basement
Garage
Area Measurements
....-
Factor
--52Jlll. x ---2a.llll. x --1JKl .
--52Jlll. x ---2a.llll. x --1JKl .
Area
1.456
1.456
o
o
o
1.456
o
'l(,ofGBA
50.00
50.00
0.00
0.00
0.00
50.00
0.00
Zip: 16857
Total
Area Type
level 1 level 2 level 3 Other BsmL Garage
~
o
~
~
B ~ B ~
~ 0 ~ ~
B ~ B ~
o
1 456 00
145600'
1'toduDtd.... ACt....... 8OlI.214.'J2J WWIJ.KiJMII_
~
~ ~
B
8
~
B
.........
FLOORPLAN
Borrower: N/A
ProPertY Address: T-378, TODD TOWNSHIP
City: JAMES CREEK
Lender: THOMAS R. HOBBS E!':TATE C/O ATTY. DAVID LENOX
Bedroom
Bedroom
b
f;j
Living Room
SIceIch bw' ApelIV Wndcwa-
~
lILA1
. . .AilEA. CJil:.CU.A11ONS llUMIiIARY. .
.~...... ...'''lO'
Deck
28.0'1
28.0'
Deck
1451 . 00
-
-
Laundly _
~
l;j
Kitchen
r_
145'.00
1458
State: PA
Bath
Bath
File No.: 07187-E
Case No.:
Zip: 16657
Flat: n_~
U\IING' NIEA BREAKDOIMl
...- .. --
21.0. 52.0 14M.OO
1 AnI. TolaI (nlU1d8d)
245 RT. 36 SOUTH, P.O. BOX 319, ROARING SPRING, PA 16673 PH:(814)224-4006 FAX:(814)224-5778
1458
nnt: Floo.
TOTAl.. LNAIllE (1llUI1decl}
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: N1A File No.: 07187-E
Prooertv Address: T-378. TODD TOWNSHIP Case No.:
City: JAMES CREEK State: PA Zip: 16657
Lender: THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date: JUNE 20,2006
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
SUBJECT PHOTO PAGE #2
Borrower: N1A FileNo.: 07187-E
Property Address: T-378. TODD TOWNSHIP Case No.:
CitY. JAMES CREEK State: PA ZiD: 16657
lender: THOMAS R. HOBBS ESTATE CIO ATTY. DAVID LENOX
SHED
SUBJECT PROPERTY
DRIVEWAY
APPRAISER'S LICENSE
File No.: 07187-E
Case No.:
State: PA
liD: 18657
,.1'
I<.;Z
'~~
::t.:~\.lCtG't~'3
..PO 8q~~~tH.lTub"'PA'JJ)OS::U49
">:~~P-:-~~~"'" __ ,~x(~,\::r'~:~ {\, ~1{>-- '.~ fr<. . -'-
,'~.D~'~t. ::t'"~Y
-'.1,:,
. (l:l'~~'.~l~\
it'
i~
""":j}:xp,ira~ri"~~
. .... ..3 0.'.....'.61. .3~r.-. '..'.f......
"'/'.::, ~{'-;
"i~
i
. !!~t~1~;. ,~it;:{:\ff~
':~!t ":~'~;~'\(;:.f{S}
8 SliCK
'. . . . ASSocIATES life
i~,~n~;1:'/,
'~~~~d:P1~i-;
... "
:...,~.~?\.<. "~;r">,"
" ;"-~" ;
,;.~:;. .: . 'J'_, .
l:~~~~,v;::d?" '\:~.~,:::'<<j., '"."
.... 'CtrtillCate
Number
':::,":,'~~;;: ,('~~'Q~~~' ',.,:/'.
.:; ,~.
"'~<~"~> ".:-;,-
'i:\,:\k:
if
t;
.-.+..-.....:.-. ..:.' ~..._.; -. :......
245 RT. 36 SOUTH, P.O. BOX 319, ROARING SPRING, PA 16673 PH:(814)224-4006 FAX:(814)224-5778
SLICK & ASSOCIATES, INC.
USPAP COMPLIANCE ADDENDUM
Borrower NlA
Property Add..... T -378. TODD TOWNSHIP
City JAMES CREEK County HUNTINGDON
LendedClient THOMAS R. HOBBS ESTATE C/O ATTY. DAVID LENOX
File No. 07187-E
Order II
S_ ~ ZipCod. 16657
Client Reference II
00
Th. purpose of the appraisali. to provide .n opinion of m.rk.t v.lu. of th. .ubj.ct prop.rty.. defin.d in this repon. on b.half of th. .ppraisal
company f.cilitating the usignment for the referenc.d cli.nt.s the int.nded u..r ofth. repen. Th. ollly function of the .ppr.i..1 i. to ...istth.
client m.ntioned in thi.' repon in ev.lu.ting the subject property for I.nding purpo.... Th. use of this .ppraisal by .nyon. other th.n the stated
intended lief, or for .ny other use th.n th. stated intend.d us.. is prohibited.
Th. purpose of the appraisal is to provide .n opinion of m.rket v.lue of th. subj.ct prop.rty, as d.fined in this repon, on b.h.lf of the apprailll
company facilitating the ulignment for the referenced client as the intended user of.this report. Theollly function of the appraisal is to assist the
c1i.llt m.ntioned in this repon in evaluating th. .ubject property Real Estate Owned (REO) purpos.s. Th. use of this .ppraisal by anyone
other than the stated intend.d user. or for any other use than the staled intend.d use. is prohibit.d.
Tb. purpose ofthi. .pprai.a1 i.to provide an opinion of market value. on beh.lf of the .pprais.l Company facilit.ting the assignm.nt for
the referenced client I. the intended user orthl! report. The only function or the appraisal is to assist the client mentioned in this report in
evaluatingth. subject property for lending ~urposes . Th. us. of this appraisal by anyone oth.r than th. st.ted intended
user, or for any other use than th. .tated ,nt.n eel use IS prohibited.
o
The .pprai..l i. based on th. information g.th.red by the appraiser from public record., other identified source., in.pection of lh. .ubject
property and neighborhood, and selection of comparabl. sale.. Ii.ting., and/or rental. within the subject marketaree. Th. original source. of th.
comparables i. .hown in the D.ta Source section of the m.rk.t grid along with the .ource of confirmation, if availabl.. Th. original source i.
presented first. The sources .nd dat..re con.idered reli.bl.. When conflicting inform.tion was provided. the sourc. d..m.d most reli.bl. has
been used. Data believed to be unreliable was not included in the report nor used al a basis for the value conclusion. The extent of analysis
applied to this assignment m.y b. funh.r impaned within the repon, the Apprai..r'. Cenification b.low .nd/or .ny other St.t.ment of Limiting
Conditions and Appraiser's C.rtification .uch as m.y be utilized within the Freddie M.c form 439 or F.nni. M.. form 1000b (dated 6/93), wh.n
applicabl..
day(s) utilizing market conditions pertinent to the appraisal assignment.
day(.).
I certify th.~ to Ih. best of my knowledge and belief:
The statements of fact contained in this report are true and correct.
The reponed an.ly.... opinion., .nd conclustion. are limited only by the reponed a.sumptions .nd limiting condition., .nd are my p.rson.I,
imp.rti.l, and unbi.sed profes.ional analy.... opinion., and conclusion..
I h.ve no present or prospective interest in th. property that i. the subject of this ropon, and no person.1 int.rest with re.p.ctto th. p.ni.s
involved, unl... otherwise .tated within the repon.
I h.ve no bias with respect to the pr~ th.t i.th. subject of this r.pon or to the p.rti.. involved with this oasignment.
My .ngagem.nt in this assignment was not contingent upon d.v.loping or reporting predet.rmined results.
My compen.ation for completing this assignm.nt is not contingent upon the development or reponing of. predetermined v.lu. or direction in
value th.t f.vors the cause of the cli.nt,th. amount ofth. valu. opinion,th. .n.inm.nt of. stipulated result, or lh. occurr.nc. ora .ubsequ.nl
event directly r.l.ted to the intend.d use of this .ppraisal.
My .naly.... opinion., and conclusion. w.re dev.loped, and this repon h.. b..n prep.red, in conformity with the Uniform St.nd.rds of
Professi,2!lal Appr.isal Practice.
I have 00 or h.ve nOlO mad.. p.rson.l inspection ofth. property th.t is th. subj.ct of this repon. (if more than on. person .igns this repen,
this certification must clearly .pecify which individu.l. did .nd which individu.l. did not m.k. . p.rson.l inspection of Ihe apprai..1 property.)
No one provided significant professional usistance to the person signing this report. (If there are exceptions, the name of each individual
providing significant professional assistance must be stated.)
NOTE: In Ih~ case oj allY cOl1f1ict wilh a client provided c~rtiflcatio" (I.e., Fa""i~ Ma~ or Freddi~ Mac). this revised certificatio" shaJl lake
r~cede"c~.
APPRAISER:
~gna~: -~J~~ 13 ~~~
Nam.: GERALD B. SLICK, SRA RAA
DatetheReponwuSigned:MARCH 15,2007
Stale Certification N: RL-000274-L
or Swe License II:
Swe:PA
Expiration Date ofCertification ... License: 06/30/07
SUPERVISORY APPRAISER (oaly if requ.ired):
Signature:
Nam.:
Dale the Repon was Signed:
Stale Certification II:
or Stale License N:
State:
Expiration Date ofC.rtification or License:
B Did inspect subject property 0 Inspected Comparabl..
Interior &: Exterior B Interior &: Exterior
Exterior only Exterior only
10fl
USP..~_......
~"AQ""" DlZJ4.l1ll_.acMllt.COIh
File No. 07187-E
DEFINmON OF MARKET VALUE: The most probable price which a property should bring In a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made in terms of cash In U.S. dollars or In terms of financial arrangements comparable thereto; and (5) the price represents the normal
consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the
sale.
. Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normally paid by sellers as a result of tradition or law In a market area; these costs are readily identifiable since the
seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can .be made to the comparable property
by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any
adjustment should not be calculated on a .mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment should approximate the market's reaction to the financing or concessions based on the APpraiser'sjudgment.
STATEMENT OF LIMITING CONDmONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the
following conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised
on the basis of II being under responsible ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is
included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available "ood maps that are provided by the Federal Emergency Management Agency (or other data
sources) and has noted in the appraisal report whether the subject site Is located in an identified Special Flood Hazard Area. Because the
appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific
arrangements to do so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at Its highest and best use and the improvements at their
contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous
wastes, toxic substances, etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal
research Involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden
or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic
substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no
guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the
appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment
of the property.
7. The appraiser obtained the Information, estimates, and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such
Items that were furnished by other parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for In the Uniform Standards of Professional
Appraisal Practice.
g, The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion,
repairs, or alterations on the assumption that completion of the improvements will be performed In a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the
appraisal report (including conclusions about the property value, the appraiser's identity and professional designations. and references to
any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the
mortgagee or its successors and assigns: the mortgage insurer; consultants; professional appraisal organizations; any state or federally
approved financial institution; or any department, agency. or instrumentality of the United States or any state or the District of Columbia;
except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s)
without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before
the appraisal can be conveyed by anyone to the public through advertising, public relations, news. sales, or other media.
Freddie Mac Form 439 6-93
Page 1 of2
Fannie Mae Form l004B 6-93
File No. 07187-E
APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that:
1. I have researched the Subject market area and have selected a minimum of three recent sales of properties most similar and proximate
to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the
market reaction to those items of significant variation. If a significant item in a comparable property is superior to , or more favorable than,
the SUl!lecl property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a
comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted
sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my
knowledge, that all statements and information in the appraisal report are true and cotrect.
3.. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject
only to the contingent and Hmiting conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and 1 have no present or prospective personal
interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis andlor the
estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the
prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the
subject property.
5. I have no present or contemplated future interest in the subjectprClperty, and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the property.
6. 1 was not required to report a predetermined value or direction in value that favors the cause of the client or any related party,
the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation andlor employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a
specific valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal,
with the exception of the departure provisi.on of those Standards. which does not apply. I acknowledge that an estimate of a reasonable
time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the
marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables
in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the
subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these
adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented
about the effect of the adverse conditions on the marketabifity of the sul!/ect property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on
significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal
report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in
the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies
and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the
statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking
full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: T-378, TODD TOWNSHIP. JAMES CREEK. PA 16657
APPRAISER:
SUPERVISORY APPRAISER (only if required)
S~nature: ~,~~/d ~~~
Name: GERAlD B. SLICK. SM RAA
Date Signed: MARCH 15. 2007
State Certificaticin I: RL-000274-L
or State License I:
State: PA
Expiration Date of Certification or License: 06/30/07
Signature:
Name:
Date ~ned:
State Certification I:
or State License I:
State:
Expiration Date of Certification or License:
o Did 0 Did Not Inspect Property
Freddie Mac Form 439 6-93
Page 2 of 2
FaMie Mae Form 1004B 6.93
~
KELLER WlLLIAMS@
of Central P A
July 26, 2006
Jan Wiley, Esq.
Wiley, Lenox, Colgan & Marzzaco
130 W. Church Street, Suite 100
Dillsburg, P A 17019
RE: Estate of Dr. Thomas Hobbs
1313 McCormick Road
Mechanicsburg, P A 17055
Dear Mr. Wiley,
Pursuant to your request, I have done a competitive market analysis on the above property. This analysis
was made to estimate the market value of this property.
Market value is defmed as: "At any given time, the highest price in terms of money which a buyer would
be warranted in paying a seller justified in accepting, provided that both parties are fully informed, acted
intelligently and voluntarily, and further, that all rights and benefits inherent in or attributed to the
property were included in the transfer."
This property, in my opinion, has an estimated market value, as of July 26,2006, of $850,000.
Employment in and compensation for making this analysis are in no matter contingent upon the value
reported, and I certify that I have no financial interest in the property appraised, present or contemplated,
or in any mortgage secured thereby.
Sincerely,
tJt;,,'<tV';i . 6~'7"ti
Olivia S. Carpenter
Associate Broker
Keller Williams of Central P A
;, .\li\ 1;1 ~~. \...;ti !",',ni-~r
'. ,', ," . :-, .1
,,-\:>.:-',;\ ],i1,' Uf(, 'j'~l..r
~::>~~~ \_:~(I1-]i~L.. Pike \~, ]';"1)"' J.ldll;A Ir(l} 1
(,Jl"i"icc: 717.7 c) j A ".',C'i('
Rev.1103 EX+ (1-18)
*'
SCHEDULE B
STOCKS & BONDS
COMMClNWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RE8IDENT DECEDENT
Hobbs, Thomas R.
FILE NUMBER
21-06-00588
ESTATE OF
All property JOInt1y-ownecl with rtg/lt of survlvo,.h1p must be dlsclo8ed on Schedule F.
ITEM CUSIP VALUE AT DATE
NUMBER NUMBER DESCRIPTION UNIT VALUE OF DEATH
1 Merrill Lynch Acct. #872-96121 (see attached): 1,275,539.59
TOTAL (Also enter on Line 2, Recapitulation) 1,275,539.59
(If more space is needed. additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule B (Rev. 6-98)
~oJJ lfD C-tM-h. VoJJJ...L
~C: BRINDLE, STEPHEN
<AI PRC
\CCT: 872- 96121
)R THOMAS R HOBBS
L313 MCCORMICK RD
~ECHANICSBURG PA 17055
CUSTOMER ACCOUNT ASSETS
(717)558-7750
41/ 05
o
.00
-558,164.16
2,781. 73
243559
2,152,447.00
.00
.00
09:35 06/21/06 PG 1
COB 06/20/06
FC: 8050
TYPE: CMA
1,275,539.59
.00
.00
.00
.00
.00
.00
.00
POS/PGS:
UNPRC
12/05 INT:
MCSH
INTC
FME
SMA
MCAL
TCAL
UPDATE: N
1,200,898 1,230,919
---- DESCRIPTION
APRIA HEALTH CARE GP
ALTRIA GROUP INC
AT& T INC
ARCHER DANIELS MIDLD
AVID TECHNOLOGY INC
BOB EVANS FARMS INC
COM CAST CORP NEW CL
CAREMARK RX INC
CITIZENS COMMNCTNS C
COCA COLA COM
DARDEN RESTAURANTS I
DISNEY (WALT) CO COM
FREESCALE SEMICONDUC
FOREST CITY ENTRPRS
GENERAL ELECTRIC
GENERAL MILLS
HARRAH'S ENTERTAINMT
HONEYWELL INTL INC D
HEWLETT PACKARD CO
INTEL CORP
INTL BUSINESS MACHIN
JPMORGAN CHASE & CO
JOHNSON AND JOHNSON
KINDRED HEALTH CARE I
MAXXAM INC
MOTOROLA INC
OFFICE DEPOT INC
ST JUDE MEDICAL INC
SERVICEMASTER COMPAN
SLM CORP
SUNTRUST BKS INC
TENET HEALTH CARE COR
TYCO INTL LTD NEW
TRIBUNE CO NEW
UST INC COM
VENTAS INC
WASHINGTON MUTUAL IN
MONTVALE CAPITAL FUN
1 MTH MONTVALE CAPIT
WELLS FARGO & CO NEW
WACHOVIA CORP NEW
?AY .00
~SH .00
3ETB -558,164.16
3ETD 6/16/06
PF: N
E>RV YR:
SEC #
D06H7 M
D07BO M
02337 M
05071 M
06727 M
09701 M
127JO M
135JO M
142G3 M
18320 M
225P1 M
23892 M
285Y7 M
30120 M
31607 M
31746 M
348T9 M
349M1 M
36229 M
38886 M
39050 M
405S5 M
40853 M
417H5 M
47518 M
51528 M
57224 M
66363 M
671TO M
578B4 M
72768 M
737J4 M
74AB8 M
75369 M
78705 M
79A67 M
3CBE5 M
3Y3B2 C
3Y3B3 C
3D8G5 M
3D9UO M
05/04/03
SEC SYMBOL
AHG
MO
T
ADM
AVID
BOBE
CMCSA
CMX
CZN
KO
DRI
DIS
FSLB
FCEA
GE
GIS
HET
HON
HPQ
INTC
IBM
JPM
JNJ
KND
MXM
MOT
ODP
STJ
SVM
SLM
STI
THC
TYC
TRB
UST
VTR
WM
8Y3B2
8Y3B3
WFC
WB
<END>
1,247,269
- QUANTITY -
426
678
43
317
201
492
90
736
608
315
637
1,475
139
1,070
733
161
1,132
244
455
730
268
342
159
60
1,169
1,264
825
440
1,775
594
47
40,312
533
646
222
6,077
156
4,657
156
479
192
ACCT
T-VAL
RAFND
STFND
C..:.MNY
C-OTH
BCORT
I/ANU
MFA
CURR PX
17.5400
71.8900
27.5800
39.3900
34.4500
28.0500
32.2600
47.3500
12.4600
42.8000
35.5600
29.2300
28.2500
45.6100
33.7000
49.9500
71.5600
38.5500
32.8600
18.1500
77.9900
40.4900
61.5300
24.1400
27.9000
19.8300
39.4700
34.0100
10.4900
52.5300
76.6400
7.0800
26.5700
31.7700
44.4700
31.7500
44.5300
136.9800
.1369
66.4800
53.0100
VALUE --
7,472
48,741
1,185
12,486
6,924
13,800
2,903
34,849
7,575
13,482
22,651
43,114
3,926
48,802
24,702
8,041
81,005
9,406
14,951
13,249
20,901
13,847
9,783
1,448
32,615
25,065
32,562
14,964
18,619
31,202
3,602
285,408
14,161
20,523
9,872
192,944
6,946
637,915
21
31,843
10,177
Rri-1103 EX. CUll
.
SCHEDULE C
CLOSELY-HELD CORPORATION,
PARTNERSHIP OR
SOLE-PROPRIETORSHIP
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RE1\JRN
RESIlENT DECEDENT
Hobbs, Thomas R.
FILE NUMBER
21-06-00588
ESTATE OF
Schedule C-1 or C-2 (Including aI supporting InfOllT1llliOn) must be attached for each closely-hetd corporalion/pllrtnershlp interest of the decedent, other than
a lOle-proprietorshlp. See Instructions for the supporting infonnatlon to be 8UbmIlled for soIe-proprIetorshlpa.
ITEM
NUMBER DESCRIPTION
1 B & H Company, Partnership, sole asset real estate situate at 477 Delancey Court,
Mechanlcsburg, PA (Total value $150,000.00, decedent was 1/2 owner):
VALUE AT DATE
OF DEATH
75,000.00
TOTAL (Also enter on Line 3, Recapitulation)
75,000.00
(If more space is needed. additional pages of the same size)
Copyright (c) 2002 fonn software only The Lackner Group, Inc.
Fonn PA-1500 Schedule C (Rev. 6-98)
I
I
I
JA1
BRIDGE STREET REALTY, LLC
1002 Bridge St., Suite 100
New Cumberland, PA 1 7070
APPRAISAL OF REAL ESTATE
LOCATED
MCCORMICK ROAD
UPPER ALLEN TOWNSHIP
CUMBERLAND COUNTV,PA
PREPARED FOR
BItH COMPANY
HENRY BRILLINGER
477 DELANCEY COURT
MECHANICSBURG, PA 17055
PREPARED BY
TAMMIE K. SHEAFFER
BRIDGE STREET REAL TV, LLC
1002 BRIDGE STREET, SUITE 100
NEW CUMBERLAND, PA 17070
DATE OF REPORT
March 13, 2006
Phone: 717-612-1700 · Fax 717-774-1010 · www.BridgeStreetRealty.com
I
,
I
..I_I'
... tai
BRIDGE STREET REALTY, LLC
1002 Bridge St., Suite 100
New Cumberland, PA 1 7070
APPRAISAL OF REAL ESTATE
LOCATED
MCCORMICK ROAD
UPPER ALLEN TOWNSHIP
CUMBERLAND COUNTY, PA
PREPARED FOR
B&H COMPANY
HENRY BRILLINGER
477 DELANCEY COURT
MECHANICSBURG, PA 17055
PREPARED BY
TAMMIE K. SHEAFFER
BRIDGE STREET REALTY, LLC
1002 BRIDGE STREET, SUITE 100
NEW CUMBERLAND, PA 17070
DATE OF REPORT
March 13, 2006
Phone: 717-612-1700 · Fax 717-774-1010 . www.BridgeStreetRealty.com
I
I
I
I
JlIII
... ...
BRIDGE STREET REALTY, LLC
1002 Bridge St., Suite 100
New Cumberland, PA 1 7070
March 13, 2006
B&H Company
Henry Brillinger
447 Delancey Court
Mechanicsburg, PA 17055
Subject:
"AS IS" Market Value Limited Summary Appraisal and
"Prospective" Market Value Limited Summary Appraisal
17.26+/- wooded acres zoned Rural Living District (RL)
McCormick Road
Upper Allen Township and a small portion Lower Allen Township
Cumberland County, PA
Dear Mr. Brillinger:
In accordance with your request, the appraisers have inspected and appraised the
subject property captioned above. A legal description of the property is included in
the addendum for your reference.
The purpose of this letter is to set forth the appraisers' estimate of "as is" and
prospective market values for the subject in the unencumbered Fee Simple Estate.
This limited summary appraisal report has been prepared in conformity with
requirements of the Uniform Standards of Professional Appraisal Practice (USPAP).
The appraisers have relied upon the departure provision of USPAP and the extent of
departure is specified within the report and attachments. This is a limited summary
appraisal, presented in a restricted report format developing both the interim and
prospective market values only and addendum, the essential data and information
which provide the detailed reasoning employed in estimating the market value is
contained in the appraiser's file. .
In the preparation of this limited summary appraisal report, the appraisers have
reviewed the appraisal related mandates within the Appraisal Foundation, the Code
of Ethics and Standards of Professional Practice of the Appraisal Institute, and Title
XI of the Federal Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA) and the Appraisal Standards for Federally Related Transactions and intend
this appraisal to comply with those standards. The market value, as estimated
herein, is premised upon the Assumptions and Limiting Conditions. The definition of
market value used by the appraisers may be found in the body of the attached
report.
Tammie K. Sheaffer and Jo Ann Bolton most recently inspected the subject property
on January 28, 2006, with an effective date of January 28, 2006. A nine to twelve
months exposure and marketing periods for the subject property are considered
reasonable after a review of recent sales and interview with brokers and potential
investors. This marketing time assumes competent Brokerage and a marketing price
of not more than twenty-percent (20%) of the appraised value conclusion in this
appraisal report.
Phone: 717-612-1700 · Fax 717-774-1010 . www.BridgeStreetRealty.com
Rev-11108 EX+ (....,
.
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RE8IlENT DECEDENT
Hobbs, Thomas R.
FILE NUMBER
21-06-00588
ESTATE OF
Include the proceeds of IIlIgatIon end the dale the proceeds were received by \he estate.
All property JoInlIy-owned wlth the right of survivorship must be dlsclOMd on schecIule F.
ITEM
NUMBER DESCRIPTION
1 Citizens Bank Checking Account #6100631869:
VALUE AT DATE
OF DEATH
56.368.11
2 PNC Bank Checking Account #5140077192:
6.471.36
TOTAL (Also enter on Line 5, Recapitulation)
62.839.47
(If more space is needed. additional pages of the same size)
Copyright (c) 2002 form software only The Lackner GrouP. Inc.
Form PA-1500 Schedule E (Rev. 6-98)
RUG-24-2006 19:19
PNCBRNK
412 768 3458
P.01/01
o PNCBAN<
August 24, 2006
Jan M. WHey, Esquire
130 W. Church Street, Suite 100
Dillsburg, PA 17019
RE: Estate of Thomas R. Hobbs, deceased
SSN; 178-28-4365
DOD: 6/20/2006
Dear Attomey Wiley:
In response to yoUr request for Date of Death balances for the customer noted above, om
records show the following:
Checking Acconnt
Account #5140077192
Established 01/12/1981
THOMAS R HOBBS, MD
DOD balance: S6,471.14 + $.22 accrued interest
Please note that this office only provides date of death balances for deposit accounts
(IRAs, CDs, Checking and Savings accounts). We do Dot process any fmmcial
tnJlSamODS or provide stateme:nts. If you need assistance with any of these items,
please call1-888-PNC-BANK (1-888-762-2265) or stop by your local PNC Bank branch
office.
Sincerely, .
~rrl1tOil ~
Rachelle Wells
1-800-762-1775
P7-PFSC-04-F
500 first Ave.
Pittsbufgh PA 15219
Member FDIC
TOTAL P.01
. a Citizens Bankw
525 William Penn Place
Suite 153-2618
Pittsburgh, P A 15219
August 1, 2006
WILEY GROUP
130 W. CHURCH STREET
SUITE 100
DILLSBURGH PA 17019
Estate of THOMAS R HOBBS
Date of Death: Jun 20, 2006
SSN: 178-28-4365
Dear SirIMadam:
In accordance with your request, the attached information sheet has been provided in the above decedent's
name as of his/her date of death.
For IL or LC accounts, contact our Loan Department at 1-800-708-6680. For all other inquiries, please
call 1-888-999-6884
Sincerely,
~~~
Barbara Richards
Operations Services
a CltlzensBank~
Account Number 6100631869
Account Title THOMAS R HOBBS
Date Opened 1/31/2001
Account Type Checking
Principal Balance as of DOD $56368.11
Interest from Last Posting to DOD
Account Balance as of DOD $56368.11
YTD Interest to DOD $309.13
Rev.1.10 EX+ (....)
.
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
CONMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIlENT DECEDENT
Hobbs, Thomas R.
FILE NUMBER
21-06-00588
ESTATE OF
ThllIICheduIe must be campIeled and lIled W the a~ to any of quesllons 1 through <4 on the reversa side of the REV-1500 COVER SHEET Is yes.
ITEM "....n....' " DATE OF DEATH % OF DECO'S EXCLUSION TAXABLE
NUMBER INCLUDE NAME OF TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND VALUE OF ASSET INTEREST (IF APPLICABLE) VALUE
THE DATE OF TRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE.
1 Merrill Lynch Account #872-04864 (IRRA, Judy 179,630.53 179,630.53
M. Hobbs, beneficiary):
2 Merrill Lynch Account #872-04865 (IRRA - Judy 196,780.44 196,780.44
M. Hobbs, beneficiary):
3 Merrill Lynch Account #872-76369 (IRRA, Judy 367,705.69 367,705.69
M. Hobbs, beneficiary):
TOTAL (Also enter on Line 7, Recapitulation) 744,118.88
(If more space Is needed. additional pages of the same size)
Copyright (c) 2002 fonn software only The Lackner Group, Inc.
Fonn PA-1500 Schedule G (Rev. 6-98)
~C: BRINDLE, STEPHEN
a\I PRC
\.CCT: 872 - 04S64
~HOMAS R. HOBBS IRRA
~BO THOMAS R. HOBBS
"313 MCCORMICK RD
1ECHANICSBURG PA 17055
?AY
::SH
,ETB
,ETD 6/19/06
~F: N
?RV YR:
3EC #
~8439
~84 64
1ASL9 C
1CFY7 C
1CL Y 4 C
1EX52 C
1FHB9 C
1H8S1 C
1JKP4 C
115Y6 C
-iM3C6 C
-i26C9 C
-i2690 C
[CG15 C
[CNG5 C
[DCW6 C
[D1MO C
[EJR2 C
[E9G6 C
[FAE7 C
[FPUO C
[FRL8 C
[FYLO C
[H3B2 C
[P2F2 C
CAX52 C
ruN56 C
[YKG3 C
[Y967 C
~6ND3 C
~6PF9 C
~7RY6 C
.18
.18C
.18C
05/04/03
SEC SYMBOL
MLRAX
MLIKX
GASL9
GCFY7
GCLY4
GEX52
GFHB9
GH8S1
GJKP4
G15Y6
HM3C6
H26C9
H2690
ICG15
ICNG5
IDCW6
ID1MO
IEJR2
IE9G6
IFAE7
IFPUO
IFRL8
IFYLO
IH3B2
IP2F2
YAX52
YUN56
YYKG3
YY967
Y6ND3
Y6PF9
Y7RY6
~.{):b
CUSTOMER ACCOUNT ASSETS
(717)558-7750
32/ 04
o
1,116.00
.00
.00
POS/PGS:
UNPRC
12/05 INT:
C-YR:
P-YR:
TRF FROM:
TRF TO:
TRF OUT DATE:
CLOSE OUT DATE:
UPDATE: N
183,074 179,731
---- DESCRIPTION ----
ML READY ASSETS TRUS
ML RETIREMENT RSRVS
FNMA P54S762 06 50%
FNMA PS4S819 06 50%
FNMA P55S013 OS 50%
FNMA PSSSS31 OS 50%
FNMA PS5SS91 OS 50%
FHLMC EO 1488 05%
FNMA P5SS876 OS 50%
FNMA P5351S7 06 50%
FEDERAL NATL MTGE AS
U.S. TREASURY NOTE
U.S. TREASURY NOTE
FNMA P73S221 06 50%
FNMA P73S022 OS 50%
FNMA P72S424 OS 50%
FNMA P25S706 OS 50%
FHLMC GO 8079 05%
FHLMC A4 6671 05%
FNMA P256022 OS 50%
FNMA P840843 OS 50%
FNMA P849496 05 50%
FNMA P845341 OS 50%
FNMA P303713 06 50%
FNMA P344566 06 50%
FNMA P25198S 06 50%
FNMA P48234S 06 50%
FHLMC C6 7305 07%
FHLMC EO 1173 OS 50%
FHLMC C3 6309 07%
FHLMC C3 6429 07%
FHLMC C5 8701 07%
<END>
174,222
- QUANTITY -
8652.18
12224.47
5,000
15,000
8,000
10,000
11,000
10,000
9,000
10,000
6,000
27,000
8,000
10,000
9,000
27,394
9,000
9,000
10,000
9,000
13,000
9,000
9,000
10,000
5,000
5,000
5,000
5,000
10,000
5,000
5,000
10,000
D-ut.:1d7
t5b V ttLuJ-
09:34 06/21/06 PG 1
COB 06/20/06
FC: 8050
TYPE: DN
179,630.53
20,876.65
.00
.00
.00
.00
.00
.00
ACCT
T-VAL
RAFND
STFND
C-MNY
C-OTH
BCORT
I/ANU
MFA
SWEEP: ML RET FUND
CURR PX -- VALUE --
8,652.18
12,224.47
499
1,279
1,904
4,716
5,070
6,077
4,789
623
6,176
25,553
7,901
5,230
6,566
15,909
7,486
8,101
8,890
8,386
12,121
8,482
8,408
426
126
338
371
405
2,394
88
121
304
100.8468
100.9022
98.4380
96.4477
96.4477
96.4890
96.4477
101.0570
102.9380
94.6410
98.7660
100.8468
96.3263
96.4477
96.1438
93.6097
93.6097
96.1438
96.1438
96.1438
96.1438
101.0493
101.0692
101.0631
101.0570
102.3623
98.4052
102.3946
102.3946
102.4149
~C: BRINDLE, STEPHEN
<AI PRC
\CCT: 872 - 04S65
rHOMAS R. HOBBS .IRRA
~BO THOMAS R. HOBBS
L313 MCCORMICK RD
~ECHANICSBURG PA 17055
?AY
:SH
3ETB
3ETD 6/20/06
~F: N
E>RV YR:
3EC #
977G3
98439
98464
H2605 C
H2614 C
H2644 C
H27D3 C
H27E3 C
H27F5 C
H27F6 C
H28G2 C
007C9 C
007R7 C
009E2 C
01357 C
016J2 C
021B8 C
05266 C
05459 C
06750 C
073S8 C
10211 C
12568 C
12737 C
134F6 C
138N1 C
139PO C
142X2 C
14659 C
19147 C
22195 C
224K8 C
224P4 C
252K6 C
253M6 C
254M1 C
285Y7 C
30139 C
32133 C
U265 C
35CDO C
35C10 C
35DX1 C
.01
.01C
.01C
05/04/03
SEC SYMBOL
IIAXX
MLRAX
MLIKX
H2605
TN FJF
H2644
H27D3
H27E3
H27F5
H27F6
H28G2
RMK
ABI
AN
AGN
A
AIZ
APPB
ARW
AZO
BRCM
BBBY
CSX
CVC
CCK
CCI
EXBD
CKFR
CELG
CPWR
CMI
DNB
DO
ESRX
EMN
ESV
FSLB
FRX
GPC
GWW
HNT
HSP
HES
1JtXlo Db ~ V~
09:34 06/21/06 PG 1
COB 06/20/06
FC: 8050
TYPE: DN
196,780.40
8,404.07
.00
.00
.00
.00
.00
.00
CUSTOMER ACCOUNT ASSETS
(717)558-7750
84/ 08
o
1,226.00
.00
.00
POS/PGS:
UNPRC
12/05 INT:
C-YR:
P-YR:
TRF FROM:
TRF TO:
TRF OUT DATE:
CLOSE OUT DATE:
UPDATE: N
197,688 186,809
---- DESCRIPTION ----
ML BANK USA RASP
ML READY ASSETS TRUS
ML RETIREMENT RSRVS
U.S. TREASURY NOTE
U.S. TREASURY NOTE
U.S. TREASURY NOTE
U.S. TREASURY NOTE
U.S. TREASURY NOTE
U.S. TREASURY NOTE
U. S. TREASURY NOTE
U. S. TREASURY BOND
ARAMARK CORPORATION
APPLERA CP-APPL BIOS
AUTONATION INC
ALLERGAN INC
AGILENT TECHNOLOGIES
ASSURANT INC
APPLEBEES INTL INC
ARROW ELECTRONICS
AUTO ZONE INC NEVADA
BROADCOM CORP CALIF
BED BATH & BEYOND IN
CSX CORP
CABLEVISION NY GRP C
CROWN HLDGS INC
CROWN CASTLE INTL CO
CORPORATE EXEC BOARD
CHECKFREE CORP NEW
CELGENE CORP
COMPUWARE CORP
CUMMINS INC
DUN & BRADSTREET COR
DIAMOND OFFSHORE DRL
EXPRESS SCRIPTS INC
EASTMAN CHEMICAL CO
ENSCO INTL INC
FREESCALE SEMICONDUC
FOREST LABS INC
GENUINE PARTS CO
W W GRAINGER INCORP
HEALTH NET INC
HOSPIRA INC
HESS CORP
<MORE>
175,932
- QUANTITY -
4376.58
1811.02
2216.47
32,000
8,000
15,000
2,000
3,000
13,000
2,000
16,000
40
55
55
10
35
25
55
35
20
30
28
35
75
70
70
10
25
30
105
10
25
26
20
15
20
35
30
35
18
35
40
30
ACCT
T-VAL
RAFND
STFND
C-MNY
C-OTH
BCORT
I/ANU
MFA
SWEEP: FDIC
CURR PX
99.7620
102.3480
93.8630
95.5590
97.9490
97.5230
95.0780
128.5940
33.1500
30.5000
20.6000
104.1400
32.1800
47.0800
19.4900
30.9300
93.1100
31.1400
36.6000
63.6700
21.1200
14.7700
31.9200
99.1200
44.4500
42.3900
6.9300
108.9500
68.0700
72.4900
65.4600
51.5400
39.9000
28.2500
36.9600
40.3600
70.2900
42.8600
42.4100
43.5800
ACCT
VALUE --
4,376.58
1,811.02
2,216.47
31,923
8,187
14,079
1,911
2,938
12,677
1,901
20,575
1,326
1,677
1,133
1,041
1,126
1,177
1,071
1,082
1,862
934
1,024
2,228
1,584
1,033
2,234
991
1,111
1,271
727
1,089
1,701
1,884
1,309
773
798
988
1,108
1,412
1,265
1,500
1,696
1,307
~I
2CT:
EC #
5281 C
5983 C
7621 C
86M1 C
89E3 C
05W4 C
1483 C
1500 C
2194 C
3087 C
:32CO C
:34B5 C
:4181 C
: 6BB2 C
b 6FH1 C
b 6GE1 C
~ 6KX9 C
52638 C
53AU9 C
53609 C
56946 C
588EO C
588P6 C
59478 C
50106 C
52553 C
63YD9 C
638T4 C
639D6 C
64BU5 C
64611 C
674 Y7 C
68813 C
69442 C
73668 C
74 FC6 C
74GL6 C
74155 C
74755 C
79836 C
8AHCO C
PRC
872-04S65
SEC SYMBOL
HRS
HP
HUM
ISIL
IDC
JOYG
KLAC
KBH
KMG
LSI
LI
LLL
LEN
MLM
MAR
MCK
MFE
NFS
NE
NSM
NUE
PPDI
PDE
PH
JCP
PCP
DGX
RHD
ROK
RHAT
REY
SIRI
SIE
SLR
TFX
TRW
TRXB
TNB
TOL
VMC
AB
CUSTOMER ACCOUNT ASSETS
(717) 558-7750
DESCRIPTION ---- - QUANTITY -
HARRIS CORP DEL 46
HELMERICH PAYNE INC 25
HUMANA INC 20
INTERSIL CORP 40
INTERACTIVE DATA COR 55
JOY GLOBAL INC DEL 35
KLA TENCOR CORP PV$O 20
KB HOME 25
KERR MC GEE CORP 30
LSI LOGIC CORP 110
LAIDLAW INTL 50
L-3 COMMNCTNS HOLDG 15
LENNAR CORP 25
MARTIN MARIETTA MATL 15
MARRIOTT INTL INC NE 50
MCKESSON CORPORATION 40
MCAFEE INC 36
NATIONWIDE FINL SVCS 25
NOBLE CORPORATION 20
NATL SEMICONDUCTOR 45
NUCOR CORPORATION 40
pHARM PROD DEV INC 40
PRIDE INTL INC DEL 52
PARKER HANNIFIN CORP 15
J C PENNEY CO COM 30
PRECISION CASTPARTS 25
QUEST DIAGNOSTICS IN 40
R.H DONNELLEY CORP 20
ROCKWELL AUTOMATION 20
RED HAT INC 35
REYNOLDS&REYNOLDS A 45
SIRIUS SATELLITE RAD 145
SIERRA HEALTH SVCS I 40
SOLECTRON CORP 265
TELEFLEX INC 20
TRW AUTOMOTIVE HLDGS 40
TRONOX INC COM 3
THOMAS&BETTS CP TENN 50
TOLL BROS INC 40
VULCAN MATERIALS CO 15
ALLIANCEBERNSTEIN HL 35
<END>
COB
FC:
CURR PX
39.0100
53.8000
49.9700
23.6800
20.5800
46.5700
40.3800
44.0800
48.8200
8.6000
25.1600
74.1500
43.1300
82.1700
36.1900
45.5800
22.5000
42.9000
65.9700
23.9300
49.1800
34.0100
28.1000
74.2000
65.9900
54.0600
57.3600
52.1900
67.1400
24.9700
28.7200
4.0100
41.2500
3.3900
51.4600
26.4300
12.8600
48.3400
26.0500
72.8800
58.8000
06/20/06
8050
VALUE --
1,794
1,345
999
947
1,131
1,629
807
1,102
1,464
946
1,258
1,112
1,078
1,232
1,809
1,823
810
1,072
1,319
1,076 '
1,967
1,360
1,461
1,113
1,979
1,351
2,294
1,043
1,342
873
1,292
581
1,650
898
1,029
1,057
38
2,417
1,042
1,093
2 , 05 8
'C : BRINDLE, STEPHEN
AI PRC
.CCT: 872 - 76369
'HOMAS R HOBBS MD IRRA
'BO THOMAS R HOBBS MD
.313 MCCORMICK RD
IECHANICSBURG PA 17055
.84
.84C
.84C
lAY
~SH
;ETB
;ETD 6/16/06
~F: N
)RV YR:
;EC #
J77G3
>7128 C
_ 27 L4 C
~1607 C
t6G34 C
t9S22 C
; 2BD1 C
;2BS1 C
; 2BW8 C
;7830 C
;7259 C
74614 C
30012 C
~D9UO C
~EK86 C
J7 AFO C
nA01 C
~7123 C
nSB3 C
05/04/03
SEC SYMBOL
IIAXX
BJS
CMCSK
GE
HCR
MSFT
MERPRB
MERPRE
MERPRF
OMC
SPG
TEF
WMT
WB
IFABX
MDFGX
CWGIX
ABALX
MALOX
lJ tV:J "b ~
09:35 06/21/06 PG 1
COB 06/20/06
FC: 8050
TYPE: DT
367,705.69
5,145.99
.00
.00
.00
.00
.00
.00
CUSTOMER ACCOUNT ASSETS
(717)558-7750
19/ 03
o
.00
.00
.00
87276309 - 09/18/92
POS/PGS:
UNPRC
12/05 INT:
C-YR:
P-YR:
TRF FROM:
TRF TO:
TRF OUT DATE:
CLOSE OUT DATE:
UPDATE: N
384,922 419,654
---- DESCRIPTION ----
ML BANK USA RASP
BJ SERVICES CO
COMCAST CRP NEW CL A
GENERAL ELECTRIC
MANOR CARE INCNEW$O.
MICROSOFT CORP
MERRILL LYNCH CAP TR
MERRILL LYNCH CAP TR
MERRILL LYN PFD CAP
OMNICOM GROUP COM
SIMON PROPERTY GROUP
TELEFONICA SA SPAIN
WAL-MART STORES INC
WACHOVIA CORP NEW
AMERICAN FUNDS INCOM
ML FUNDAMENTAL GROWT
AMERICAN CAPITAL WOR
AMERICAN BALANCED FU
ML GLOBAL ALLOCATION
<END>
417,029
- QUANTITY -
5145.99
150
300
1,000
412
400
400
400
1,000
100
100
520
200
400
3,730.2760
1,426.6340
360.6210
1,531.6180
1,851
ACCT
T-VAL
RAFND
STFND
C-MNY
C-OTH
BCORT
I/ANU
MFA
SWEEP: FDIC ACCT
CURR PX VALUE --
5,145.99
4,995
9,669
33,700
18,968
9,024
10,224
10,128
25,460
8,846
7,978
25,006
9,686
21,204
69,047
25,879
13,321
27,140
32,281
33.3000
32.2300
33.7000
46.0400
22.5600
25.5600
25.3200
25.4600
88.4600
79.7800
48.0900
48.4300
53.0100
18.5100
18.1400
36.9400
17.7200
17.4400
Rey-11112 EX+ (....)
*'
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
Hobbs, Thomas R.
FILE NUMBER
21-06-00588
ESTATE OF
Include unNlmbul'HCl medical UpenHS.
ITEM
NUMBER DESCRIPTION
1 Citizens Bank Loan:
VALUE AT DATE
OF DEATH
13,029.02
TOTAL (Also enter on LIne 10, Recapitulation)
13,029.02
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 fonn software only The Lackner Group, Inc.
Fonn PA-1500 Schedule I (Rev. 6-98)
.
REV.1111S EX+ (1-00)
.
SCHEDULE ..
BENEFICIARIES
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
NUMBER
Hobbs, Thomas R.
NAME AND ADDRESS OF
PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS [include outright spousal
<listributions and transfers
under Sec. 9116(a)(1.2)]
RELATIONSHIP TO
DECEDENT
Do Not Ust TRl8IH(al
FILE NUMBER
21.()6.()0588
SHARE OF ESTATE AMOUNT OF ESTATE
(Words) ($$$)
ESTATE OF
I.
1
Judy M. Hobbs
Spouse
Direct
beneficiary of
IRAs and
Partnership
819,116.66
Total 819,116.66
Enter dollar amounts for distributions shown above on lines 5 through 18, as appropnate, on Rev 1500 cover sheet
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT
BEING MADE
See continuation schedule(s) attached
2,995,350.04
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET
2,995,350.04
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule J (Rev. 6-98)
COURT OF COMMON PLEAS OF YORK
COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISION
NUMBER: 21-06-00588
ESTATE OF THOMAS R. HOBBS,
DECEASED
PRAECIPE TO FILE DISCLAIMER
AND NOW COMES DAVID J. LENOX, ESQIDRE, OF THE LAW FIRM OF
WILEY, LENOX, COLGAN, & MARZZACCO, P.C., attorneys for the Estate of Thomas R.
Hobbs, deceased, and respectfully submit for filing the attached Disclaimer of the estate
beneficiaries, namely, Jeffrey A. Clukey, Thomas R. Hobbs, Jr., and Rebecca S. Hobbs.
Dated: g/:z!OiP
By:
David J. L ox, squire
Attorney Number: 29078
Wiley, Lenox, Colgan, &
Marzzacco, P.C.
130 W. Church St.
Dillsburg, PA 17019
(717) 432-9666
t--')
r__~
,--"I
.S
.::F"
""'!""'~l
;-~=~
r";-~
:-..'')
'-=)
.~-..-
,';')
;--'.J
-'-~ '~i
". i..__-'
""'0
','_'~;:C~
". ~,~.~~
. '-- ..'
i"',l
U1
w;
.
COURT OF COMMON PLEAS OF YORK
COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISION
NUMBER: 21-06-00588
ESTATE OF THOMAS R. HOBBS,
DECEASED
DISCLAIMER
AND NOW COME JEFFREY A. CLUKEY, of 45 Hellam Drive, Mechanicsburg,
Pennsylvania, THOMAS R. HOBBS, JR., of 17 Valley View Drive, Mechanicsburg,
Pennsylvania, and REBECCA S. HOBBS, of 4480 Rodenbaugh Avenue, Pittsburgh,
Pennsylvania, being all of the children and partial beneficiaries under the will of Deceased, and
respectfully file the following disclaimer:
1. THOMAS R. HOBBS, died on June 20, 2006, leaving a will dated September 2, 1992,
which was admitted to probate by the Register of Wills of Cumberland County, Pennsylvania.
Letters Testamentary thereon were granted to JUDY M. HOBBS on July 3, 2006. A copy of
Decedent's will is attached hereto as Exhibit A.
2. JUDY M. HOBBS, the wife, is the sole lifetime beneficiary of the "Marital Trust"
established under ITEM 3 of Decedent's will.
3. Under ITEM 4 of said will a "Residuary Trust" is created for assets of decedent's in
excess of the assets distributed to the "Marital Trust".
4. Decedents actual estate is of sufficient size so that the "Residuary Trust" will be
1
.
funded.
5. ITEM 4, Paragraph C, contains a so-called "sprinkle provision" wherein the trustee of
the Residuary Trust is authorized to make discretionary payments of principal to Decedent's
children during the life of Decedent's wife, thereby disqualifying said trust as a trust for the sole
use of the surviving spouse under Section 2113(A) of the Inheritance and Estate Tax Act, 72 P.S.
9113.
6. With the intent of eliminating the disqualifying affect of said provision, the children,
being the below signed disclaimants, disclaim any interest in any distribution under ITEM 4,
Paragraph C, during the life time of Decedent's wife, and hereby irrevocably refuse receipt of the
benefits therefrom.
7. The property interest so disclaimed extends to any interest or any right to distribution
during the life time of the Decedent's wife, regardless of the funding of the Residuary Trust and
whether it consists of real property, personal property, tangible property or intangible property.
8. Thechildrenldisclaimants have not accepted any benefits from Decedent's estate
whether by income distribution or principal distribution, and have not exercised any control of
the estate assets.
9. The result of this disclaimer is that the surviving spouse will be the sole lifetime
beneficiary of the Residuary Trust thereby qualifying said trust as a transfer of property for the
sole use of the surviving spouse during the entire lifetime of the surviving spouse.
10. The Disclaimants intend to file this disclaimer with the Clerk of the Orphans' Court
Division of the Court of Common Pleas of Cumberland County and to deliver a time stamped
2
,
..
copy of the filing to Judy M. Hobbs, the Executrix of the above estate and to Merrill Lynch
Company of America, the Trustee of the Residuary Trust.
Date: 7 I~?O /2[)/)fo :J(~ .4, O~
~a:~~
TkoMAS R. HOBBS, JR.
Date:
6' /~ ~~6
Date:
fJ / 30 / 200b
L/J~~
REBECCA S. HOBBS
3
.. " .,
Rev.1M2 EX+ (....,
*'
SCHEDULE .J.IIA
SPOUSAL DISTRIBUTIONS UNDER
SECTION 9113 FOR WHICH AN
ELECTION TO TAX IS NOT BEING MADE
I continued
\FILE NUMBER
21-06-00588
COMMONWEALTH OF PENNSYLVANIA
HlERITANCE TAX RETURN
RE8IlENT oeceDENT
ESTATE OF
Hobbs, Thomas R.
ITEM
NUMBER DESCRIPTION
AMOUNT
1
Marital Trust Under Item 3 of Decedent's Will
995.350.04
2
Residual Trust Under Item 4 of Decedent's Will, regarding which children have filed
a disclaimer so as to qualify the transfer thereby as a transfer for the spouse's
"sole use."
2.000.000.00
Subtotal
2.995.350.04
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule J-IIA (Rev. 6-98)
1,. .
Estate of Thomas R. Hobbs
Social Security No. 178-28-4365
Pennsylvania Inheritance Tax Return
Property Interests Allocated to AlB Trusts
Gross Estate
Less:
Schedule G
Schedule G
Schedule G
Schedule F
Schedule K
Merrill Lynch IRA 64
Merrill Lynch IRA 65
Merrill Lynch IRA 69
Partnership Interest
Debts
-$179,630.53
-$196,780.44
-$367,705.69
-$75,000.00
-$13.029.02
Net Estate Allocated to Marital and Residuary Trusts
Federal Exemption Equivalency to Residual Trust
Balance allocable to Marital Trust
$3,827,495.72
-$832.145.68
$2,995,350.04
-$2.000.000.00
$995,350.04
6
-rn J4luO.aD
~\U.- \ IlO' (D
(\cLr=D
... .{ ".