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Home My WebLink About07-10-07 ---I 1S0Sb041147 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 ONL V County COde Yeer INHERITANCE TAX RETURN RESIDENT DECEDENT 2 1 0 6 File Number 0889 Date of Birth 204032398 09162006 05211920 Decedent's Last Name Suffix Decedent's First Name BEARD DOROTHY MI R (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW [!] 1. Original Retum D 2. Supplemental Retum D 3. Remainder Retum (date of death prior to 12-13-82) D 4. Limited Estate D 4a. Future Interest Compromise D 5. Federal Estate Tax Retum Required (dele of deelh after 12-12-82) [K] 6. Decedent Died Testate D 7. Decedent Maintained a Living Trust 0 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) D 9. Litigation Proceeds Received D 10 Spousel Poverty Credit ~dele of death D 11. Election to tax under Sec. 9113(A) . between 12-31-91 and -1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number HAMILTON C. DAVIS 7175325713~ = = REGIST~~ WILLS @!E ONb~, ;:, ) I:r:O I {:::-~! CJ ~:._J""I.:>r- f~" f 1 - zgj c> ...... r:) en 7' Firm Name (If Applicable) ZOLLINGER-DAVIS, PC First line of address 20 EAST BORD STREET, SOITE 6 00 g-n '-- ~ '-0 dATE FILED e -0 ::J: Second line of address - .. City or Post Office SHIPPENSBORG State PA ZIP Code 17257 Correspondent's e-mail address:hamiltondavislaw@comcast.net Under penalties of P.8~ury, I declare that I have examined this retum, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIGNAT E ERSON RESPONSI LE F RILING RETURN DATE ELAINE KILLIAN ,PA 17257 DATE Hamilton C. Davis 20 East Surd Street, Suite 6, Shippensburg, PA 17257 Side 1 L 1S0Sb041147 1S0Sb041147 ---I ~ PA Inheritance Tax Return Signature of Additional Fiduciaries ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 Under penalties of pe~ury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has an knowledge. Signature #2 Name Address1 Address2 City, State, Zip Carlisle, PA 17013 Date '\ - d.- t)~ ....J 15056042148 REV-1500 EX Decedenl'sName: DOROTHY R. BEARD RECAPITULATION 1. Real Estate {Schedule A).......................................................................................... 1. 2. Stocks and Bonds {Schedule B)............................................................................... 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship {Schedule C).......... 3. 4. Mortgages & Notes Receivable {Schedule D).......................................................... 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property {Schedule E)................ 5. 6. Jointly Owned Property (Schedule F) D Separate Billing Requested............. 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) D Separate Billing Requested............. 7. 8. Total Gross Assets {total Lines 1-7)....................................................................... 8. 9. Funeral Expenses & Administrative Costs {Schedule H)......................................... 9. 10. Debts of Decedent, Mortgage Liabilities, & Liens {Schedule I)................................ 10. 11. Total Deductions {total Lines 9 & 10)...................................................................... 11. 12. Net Value of Estate {Line 8 minus Line 11)............................................................. 12. 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made {Schedule J)................................................. 13. 14. Net Value Subject to Tax {Line 12 minus Line 13)................................................. 14. TAX COMPUTATION. SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, of transfers under Sec. 9116 (a){1.2) X ~ 16. Amount of Line 14 taxable at lineal rate X .045 17. Amount of Line 14 taxable at sibling rate X .12 18. Amount of Line 14 taxable at collateral rate X .15 15. 161,119.51 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 15056042148 Decedent's Social Security Number 204032398 164,000.00 2,476.81 14,962.97 181,439.78 19,911.96 408.31 20,320.27 161,119.51 161,119.51 0.00 7,250.38 0.00 0.00 7,250.38 ~ 15056042148 ....J REV-1500 EX Page 3 Decedent's Complete Address: File Number 21-06-0889 DECEDENT'S NAME DOROTHY R. BEARD STREET ADDRESS 12 ROBINSON AVENUE Shippensburg, PA 17257 CITY I STATE IZIP Shippensburg PA 17257 Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount (1 ) 7,195.00 362.52 3. InterestlPenalty if applicable D. Interest E. Penalty Total Credits (A + B + C) (2) Total Interest/Penalty (D + E) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. A. Enter the interest on the tax due. B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (3) (4) (5) (5A) (5B) Make Check Payable to: REGISTER OF WILLS, AGENT 7,250.38 7,557.52 307.14 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 of the property transferred;.................................................................................. D b. retain the right to designate who shall use the property transferred or its income;.................................... D c. retain a reversionary interest; or.................................................................................................................. D d. receive the promise for life of either payments, benefits or care?.............................................................. D 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration?........... ............... ............... ................ .................. ................. ................. .......... D 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?......... D 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. ~9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P .S. ~9116 (a) (1.1) (ii)]. The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116 (a) (1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. ~9116 1.2) [72 P.S. ~9116 (a) (1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116 (a) (1.3)]. A sibling is defined under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. Rev-1HZ EX+ (8-98) . SCHEDULE A REAL ESTATE COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 All real property owned IIOlely or as a tsnant In common must be reported at fair markat value. Fair mar1<et value Is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowtedge of the relevant fads. Reel property which Is Jolntly-owned wtth right of survivorship muat be disclosed on schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1 12 ROBINSON AVENUE, SHIPPENSBURG PA - SEE ATTACHED APPRAISAL 164.000.00 TOTAL (Also enter on Line 1, Recapitulation) 164.000.00 (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 A (Rev. 6-98) Rev.1&08 EX+ (8-88) . SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY COMMONWEAlTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESlOENT DECEDENT ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 Include the proceeds Of litigation and tha date the proceeds were received by the estate. All property Jolntly-owned wtth the rlght of eurvlvorshlp must be disclosed on schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 CASH ON HAND 158.01 2 REFUND - EMBARQ 20.81 3 REFUND - COMCAST CABLE 13.61 4 REFUND - ADAMS ELECTRIC CO. 49.58 5 REFUND - STATE FARM INSURANCE 9.80 6 1990 BUICK LESABRE SEDAN - SEE ATTACHED QUOTE FROM KELLY BLUE 725.00 BOOK 7 MISCELLANEOUS HOUSEHOLD GOODS, FURNISHINGS AND PERSONAL EFFECTS 1.500.00 TOTAL (Also enter on Line 5, Recapitulation) 2.476.81 (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) Rev-15Ot EX+ (8-88) . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE F JOINTLY-OWNED PROPERTY ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 If en a..et wa. made Joint within one year of the decedenre dete of death, It must be reported on schedule G. SURVIVING JOINT TENANT(S) NAME A. ELIANE KILLIAN ADDRESS RELATIONSHIP TO DECEDENT Daughter 430 S. FAYETTE STREE Shippensburg, PA 17257 B. C. JOINTLY OWNED PROPERTY: DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH LETTER ITEM FOR JOINT MADE INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT DATE OF DEATH DECD'S VALUE OF NUMBER TENANT JOINT NUMBER OR SIMILAR IDENTIFYING NUMBER. ATTACH DEED FOR VALUE OF ASSET INTEREST DECEDENrSINTEREST JOINTLY-HELD REAL ESTATE. 1 ORRSTOWN BANK CHECKING 2.217.96 50.000% 1.108.98 ACCOUNT NO. 612553 Accrued Interest on Item 1 through date 20.79 50.000% 10.40 of death 2 ORRSTOWN BANK SAVINGS ACCOUNT 27.687.18 50.000% 13.843.59 NO. 30791 TOTAL (Also enter on Line 6, Recapitulation) 14.962.97 (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 F (Rev. 6-98) REV.1151 EX+ (12....) . SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 Debts of decedent must be reported on Schedule I. ITEM DESCRIPTION AMOUNT NUMBER A. FUNERAL EXPENSES: See continuation schedule(s) attached 10,925.10 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Social Security Number(s) I EIN Number of Personal Representative(s): Street Address City State Zip - Year(s) Commission paid 2. Attorney's Fees 6,400.00 See continuation schedule(s) attached 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. Other Administrative Costs 2,586.86 See continuation schedule(s) attached TOTAL (Also enter on line 9, Recapitulation) 19,911.96 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA.1500 Schedule H (Rev. 6-98) Rev-1HZ EX+ (6-86) *' SCHEDULE H.A FUNERAL EXPENSES continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 ITEM NUMBER 1 DESCRIPTION FOGELSANGER BRICKER FUNERAL HOME AMOUNT 7.510.10 2 MATAMORAS COMMUNITY CHURCH - LUNCHEON 100.00 3 REINHARD FUNERAL HOME 3.315.00 Subtotal 10.925.10 Copyright (c) 2002 form software only The Lackner Group. Inc. Form PA-1500 Schedule H-A (Rev. 6-98) ReY.1S02 EX+ (8-9S) . SCHEDULE H-B2 ATTORNEY'S FEES continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT BEARD, DOROTHY R. FILE NUMBER 21-06-0889 ESTATE OF ITEM NUMBER DESCRIPTION AMOUNT 1 HAMILTON C. DAVIS, ESQUIRE 6.400.00 Subtotal 6.400.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-B2 (Rev. 6-98) Rev-1HZ EX+ (8-98) . SCHEDULE H-B7 OTHER ADMINISTRATIVE COSTS continued COMMONWEAl. TH OF PENNSYlVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT BEARD, DOROTHY R. FILE NUMBER 21-06-0889 ESTATE OF ITEM NUMBER DESCRIPTION AMOUNT 1 APPRAISAL - STEVE BARRETT 300.00 2 D&L GULF - INSPECTION ON CAR 67.84 3 LEGAL ADVERTISING - THE NEWS CHRONICLE 92.75 4 NURSING HOME - OUTLOOK POINTE 158.00 5 REIMBURSEMENT - ROSEANN HANEY 150.00 6 RYAN KILLIAN - MOWING 340.00 7 SHETRON TIRES 131.85 8 STATE FARM INSURANCE - HOMEOWNER'S INSURANCE 360.00 9 UTILITY - EMBARQ 49.89 10 UTILITY - ADAMS ELECTRIC CO. 84.61 11 UTILITY - CFJMA 26.00 12 UTILITY - BOROUGH OF SHIPPENSBURG 37.00 13 UTILITY - ADAMS ELECTRIC CO. 60.13 14 UTILITY - CFJMA 26.00 15 UTILITY - ADAMS ELECTRIC CO. 43.38 16 UTILITY - WASTE MANAGEMENT 30.92 17 UTILITY - CFJMA 26.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-B7 (Rev. 6-98) Rey-1502 EX+ (S-8S) . SCHEDULE H-B7 OTHER ADMINISTRATIVE COSTS continued COMMONWEALTH OF PENNSYlVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER 21-06-0889 BEARD, DOROTHY R. ITEM NUMBER DESCRIPTION AMOUNT 18 UTILITY - ADAMS ELECTRIC CO. 65.51 19 UTILITY - CFJMA 26.00 20 UTILITY - BOROUGH OF SHIPPENSBURG 37.06 21 UTILITY - ADAMS ELECTRIC CO. 61.12 22 UTILITY - CFJMA 26.00 23 UTILITY - ADAMS ELECTRIC CO. 74.78 24 UTILITY - CFJMA 26.00 25 UTILITY - BOROUGH OF SHIPPENSBURG 30.92 26 UTILITY - ADAMS ELECTRIC CO. 111.05 27 UTILITY - CFJMA 26.00 28 UTILITY - BOROUGH OF SHIPPENSBURG 37.06 29 UTILITY - CFJMA 26.00 30 UTILITY - ADAMS ELECTRIC CO. 28.99 31 UTILITY - CFJMA 26.00 Subtotal 2.586.86 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA.1500 Schedule H-B7 (Rev. 6-98) R.v.1112 EX+ (1-98) *' SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYlVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 Includ. unrelmbul'll8d medical .xpen.... ITEM NUMBER DESCRIPTION 1 2007 COUNTY AND TOWNSHIP REAL ESTATE TAXES VALUE AT DATE OF DEATH 408.31 TOTAL (Also enter on Line 10, Recapitulation) 408.31 (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 I (Rev. 6-98) REV-1513 EX+ (9.00) . SCHEDULE .. BENEFICIARIES COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF NUMBER BEARD, DOROTHY R. NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY TAXABLE DISTRIBUTIONS [include outright spousal aistributions.( and transfers under Sec. ~116(a)(1.2)] RELATIONSHIP TO DECEDENT Do Not List Trustee/e' FILE NUMBER 21-06-0889 SHARE OF ESTATE AMOUNT OF ESTATE (Words) ($$$) I. 1 ROSEANN HANEY 315 W. RIDGE STREET Carlisle, PA 17013 Daughter 1/3 Estate 53,706.50 2 ELIANE KILLIAN 430 S. FAYETTE STREE Shippensburg, PA 17257 Daughter 1/3 Estate 53,706.50 3 RYAN KILLIAN 430 S. FAYETTE STREET Shippensburg, PA 17257 Grandson 1/3 Estate 53,706.45 Total 161,119.45 Enter dollar amounts for distributions shown above on lines 15 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 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET 0.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule J (Rev. 6-98) Rey-1512 EX+ (8-88) . SCHEDULE Y-19A Inheritance Tax Paid @ 5% Discount COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF BEARD, DOROTHY R. FILE NUMBER 21-06-0889 ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1 REGISTER OF WILLS 7.195.00 TOTAL (Also enter on Line 10, Recapitulation) 7.195.00 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group. Inc. S. W. Barrett Real Estate & Appraisal Services APPRAISAL OF \.\. \ .'A/, i,' .' \,'\ "', : ,'\\/ ;:1") ",}::\y~/-~) . '\\~ \' I~ i r I i " I. / ,r .f' d LOCATED AT: 12 Robinson Avenue Shippensburg, PA 17257-8233 FOR: Ms. Elaine Killian 430 South Fayette Street Shippensburg, PA 17257 BORROWER: Dorothy R. BEARD AS OF: November 17, 2006 BY: stan A. Skowronek Certified Residential Appraiser Fie No. 06-0521 S. W. Barrett Real Estate & Appraisal Services File No. 06-0521 11/27/2006 Ms. Elaine Killian 430 South Fayette Street Shippensburg, PA 17257 File Number: 06-0521 In accordance with your request, I have appraised the real property at: 12 Robinson Avenue Shippensburg, PA 17257-8233 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 November 17, 2006 is: $164,000 One Hundred Sixty-Four 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. Respectfully submitted, ~Q s1owrcw'c Stan A. Skowronek Certified Residential Appraiser ProDertv DescriDtion File No. 06-0521 Prooertv Address 12 Robinson Avenue Citv Shiooensbura State PA Th Code 17257.8233 l""al Desaiotion Deed Book C-27, Dane 5 Coun~ Cumberland AsseSSOf's Parcel No. 39-36-2438-023 Tax Year 06/07 R.E. Taxes $ 2 050.00 Soecial Assessments $ NI A Borrower Dorothy R. BEARD CUlTent Owner Dorothy R. Beard Oecooan!: r l Owner r '1 Tenant Ix1 Vacant .. Prooertv riohts annraised r X I Fee SimDIe leasehold I Proiect Tvoe r l PUD r l Condominium (HUDNA DnM HOA$ N/A /Mo. Neiohborhood (J Proiect Name SouthamDton TownshlD MaD Reference 36-2438 Census Tract 0131.01 Sale Price $ NI A Date of Sale Nt A DesaiDtion and $ amount of loan charaeslconcessions to be oaid bv seller NI A lender/Client Ms. Elaine Killian Address 430 South Favette Street. Shiooensbura. PA 17257 AODraiser Stan A. Skowronek Address 124-126 North Hanover St. Carlisle Pa. 17013 location ~ Urban ~ Suburban >- Rural Predominant Single family housing Present land use % land use change occupancy PRICE AGE ~ Not likely 0 Likely Built up l- Over 75% A 25-75% i- Under 25% l(llOll) (",) One family ~ Growth rate i- Rapid ~ Stable >- Slow ~ Owner 95 ~low~ 2-4 family ~ X In process Property values ~ Inaeasing ,2S. Stable ~ Declining Tenant 190 Hinh 50 Multi-tamIy ~ To: Residential Demand/supply ~ Shortage ,!lnbaala! ~ OverSlWiY fi Vacant(M%) Predominant . Commercial 0% Marketina time Under 3 mos. 3-6 mos. Over 6 mos. Vacant OY<<"S% 160 I 35 Vac \ 60% Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries and characteristics: The subiect is bounded on the north bv Walnut Bottom Rd on the east bv Strohm Rd. on . the south bv Walnut Dale Rd and on the west bv route 11. . . Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): . There are no adverse factors to affect marketabilitv of subiect. Diverse stable emDlovment and all sUDDortina amenities are . within easv drivina distance. SMSA 3240 .. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time - - such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.): Prooertv sales records and MlS statistics show a steady. moderate increase in DroDertv values over the past Year. Averaae marketino time of 60-90 days shows a aood balance of suoolv and demand. Few sales and financina concessions are needed in the nelahborhood. . Project Information for PUDs (If applicable). - Is the developer/builder in control of the Home Owners' Association (HOA)? DVES DNO Approximate total number of units in the subject project N/A Approximate total number of units for sale in the subject project NI A Describe common elements and reaeational facilities: N/A Dimensions See leaal descriDtion Topography Basicallv level Site area .43 Acre mIl Caner lot IXJ Yes IT No Size Tvoical for area Specific zoning classification an:R:iPlion Aaricultural Conservation Shape Irreaular Zoning compliance 00 legal legal nonDlIlfaning (Grandfathered use) 0 Illegal 0 No zoning Drainage Aooears Adeauate Hiohest & best use as hmroved: X Present use .. F1' Other use (exclain\ View Residential Utilltie8 P~c Other Off'8lte Improvements Type Public Private Landscapilg Averaae Electricity ,! 200 Amo Street Macadam 8 ~ Driveway Surface Macadam Gas i== ClJ'blgutter None Apparent easements None ADDarent Water ~ Sidewalk None FEMA Special Flood Hazard ~ea o Yes fX] No Sanitary sewer ,! Street lights None R FEMA Zone X Map Date 08/04/1988 Storm sewer A1lev None FEMAMao No. 4215870015B Comments (apparent adverse easements, enCloachments, special assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): There are no aooarent adverse easements encroachments or other adverse condition GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Units 1 Foundation Conc Blk Slab None ~ea Sq.Ft. 1412 Roof _0 No. of Stories 1 Exterior Walls Brick 0lMA Space None % Finished 0 Ceiling ~oo Type (Det.lAtt.) Detached Roof Surface Fiberalass Basement Full Ceiling Onen Joist Walls ~oo Design (Style) 1 Storv Gutters & Ownspts. Aluminum Sump Pump No Walls Conc Blk Floor ~ 00 ExistinglProposed Existina Window Type Wood Frame Dampness None Obs Floor Concrete None -8 Age (Vrs.) 26 Storm/Saeens YeslYes Settlement None Obs Outside Entry Yes u__ Effective Aoe (Yrs.' 15-20 Manufactured House No Infestation None Obs . R Factor Unk . ROOMS Faver Livino Dinino Kitchen Den FamilY Rm. Rec. Rm. Bedrooms # Baths laundrY Other ~ea SoH . Basement level 1 1 area 1 3 1.5 1 1.412 . level 2 . Finished area above orade contains; 5 Rooms: 3 Bedroom 's\; 1.5 Bathls" 1 412 Snuare Feet of Gross livino ~ea . INTERIOR MaterialsICondition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE: Floors CroWinYI Type BB Refrigerator ~ None 8 Fireplace(s)# _ 0 None 0 . Walls Drvwall Fuel Elect Range/Oven Stairs Patio 0 Garage 2 # of cars Trim/Finish Wood ConditionAva Disposal - Drop Stair ~ Deck Wood 00 Attached 2 Bath Floor Vinyl COOLING Dishwasher = Scuttle Porch Covered ~ Detached Bath Wainscot Drvwall Central No FanlHood - Floor Fence Built-In Doors Hollow Core Other None Miaowave Heated Pool Carport Averaae Condition CondiOOnN/A Washer/I'lrver Finished H Drivewav 2/Mac Additional features (sp8cial energy efficient items, etc.): Front covered oorch. Rear wood deck. Condition of the improv8ments, depreciation (physical, functional, and external), repairs needed, quality of construction remodeling/additions, etc.: ImDrove ments are in averane condition with no Dhvsical or functional inadeauacies noted. . 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 property: No adverse environmental conditions are aooarent/disclosed. SUMMARY APPRAISAL REPORT UNIFORM RESIDENTIAL APPRAISAL REPORT FredcH w.c Farm 70 6-93 PAGE 1 OF 2 ProducId IIIing ACI___.1IlXl.23U121 www.ldw.b.r.om FlfWlie Mae Fa'lTl1004 &-93 Valuation Section SUMMARY APPRAISAL REPORT UNIFORM RESIDENTIAL APPRAISAL REPORT File No 06-0521 ESTIMATED SITE VALUE. . . . . . . . . . . . . . . . . . . . . . . . . . . = $ 30 000 Comments on Cost Approach (such as, source of cost estimate, ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: site value, square foot calculation and for HUD, VA and FmHA, the Dwelling Sq.Ft. @$_ = $ 0 estimated remaining economic life of the property): Sq.Ft. @$_ = 0 Cost ADDroach deemed a Door indicator of value due to . = aae of the imnrovements. Estimated Remainina , GiJ~ _Sq.Ft. @$_ = 0 Economic Life - 40-45 vears . Total Estimated Cost New ...,............ = $ 0 ~~tioo ~I Functional I External Est. Remaining Econ. Life: 35 . = $ 0 Depreciated Value of Improvements . . . . . . . . . . . . . . . . . . . = $ 0 'As~s'ValueofSite Improvements. . .. ..... .. .. . .... . = $ INDICATED VALUE BY COST APPROACH. . . . . . . . . . . = $ N/A ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 12 Robinson Avenue 601 South Mountain Est Rd 116 Willow Drive 2 Pin Oak Lane Address ShiDDensbura ShiDDensbura ShiDDensbura ShiDDensbura Proximitv to Subiect 4.2MIW 3.0MIW 3.1 MIW Sales Price $ N/A $ 168000 . < $ 155 000 $ 167500 PriceIGross Liv. /Yea $ 0.00 IZl $ 152.17 IZl $ 125.81 IZl $ 115.36 IZl Data and/or Inspection AppData Courthouse Courthouse Verification Sources Courthouse Courthouse VALUE AD.lJSTMENTS DESCRIPTION DESCRIPTION I +(-lIAd._ DESCRIPTION ,. + , - \ I Ad;'''''''' DESCRIPTION I + (-) I Adjuslmon. Sales or Financing N/A Unknown Unknown , Unknown Concessions < c. .C Date of SalelTime N/A . 12/02/2005 : 02/07/2006 : 07/17/2006 : Location Suburban Suburban Suburban Suburban I.easehokWae ~ Fee SimDle Fee SimDle Fee SimDle : Fee SimDle : Site .43 Ac/Ava .36 Ac/Ava : .63 Ac/Ava : .38 Ac/Ava : View Residential ODen Country Residential , Residential , Desian and Aeaeal 1 StOry 1 Story : 1 StOry : 1 StOry : ~r:iCa1shldi:n Averaae Averaae : Averaae : Averaae : Ace 26 Years 35 Years 41 Years 43 Years Condition Averaae Averaae : Averaae : Averaae : Above Grade Total I Bcnns ' Batlts Total I Ekims I Baths : ToIaI: Bctma I B"', : Total ' 8ms ' Batlts : Room Count 2[ 5: 3: 1.50 5: 2: 2.50 ' -3,000 5: 3: 1.50 ' 6: 3: 1.50 ' Gross Livina Area 1.412 Sa.Ft. 1 104 Sa.Ft. : 6160 1 232 Sn.Ft. : 3.600 1 452 Sn.Ft. : 0 Basement & FrUshed Full Bsmtl Full Bsmtl , Full Bsmtl , Full Bsmtl . , Rooms Below Grade Unfinished FamRlBRlDen -3.000 Unfinished Unfinished Functional Utilitv Averaae Averaae : Averalle : Averaae : HeatinalCoolina EBB/None FHAlCA : -3.000 HWBB/CA : -3 000 EBB/CA : -3000 · Erwav Efficient Items TVDical TVDical TVDical TVDical GaraaelCa-oart 2 Car Garaae 2 Car Garaae : None : 5000 2 Car Garaae : Porch, Patio, Deck, Porch/Deck Porches Porch/Patio Porch/Patio Fireolacels\. etc. Fence, Pool, etc. None None : None : None : : : : Net Adi. Itotal\ .... 11+ fxl. '$ 2840 Ixl + r I. '$ 5600 I 1+ IXI. '$ 3.000 Adjusted Sales Price .......~......<......... Gross: 9.0% Gross: 7.5% :; Gross: 1.8% of Camnarable Net. .' ,'1_1. 7Ok:.v $ 165 160 N,;t,>'3:6%';;.;ic: $ 160600 Net: <1.8% $ 164 500 Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc. ): ODinion of value ranae is $161000 to $165000. These are the best sales comDarables known to be available. . ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 Dale, Price and Data 04/0111977 09/27/2002 06/07/2005 09/30/1994 Sou-ce fa prier sales $5,000 $101,500 $145,000 $96,350 within vea-af ~ Courthouse Courthouse Courthouse Courthouse Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prier sales of subject and compa-abIes Yoilhin one yea- of the date of appraisal: ComDarable #2 transferred Dreviouslv on June 7 2005 for $145 000. INDICATED VALUE BY SALES COMPARISON APPROACH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 164 000 INDICATED VALUE BY INCOME APPROACH IW AnnhbJel Estimated Market Rent $ N/A /Mo. x Gross Rent MultinrlBl" N/A = $ N/A This apptaisalls made 00 'as is' 0 subject to the repais, alterations, inspections cr oonditions isted bebw 0 subject to ~tion per plans and specifioatioos. CondtionsafAppraisal: The DrODertv has been aDDraised in current condition. This is for the clients use onlv. Final Reconcilialion: The Market Data Analvsis SUDDOrts mv estimated market value of the subiect. The Cost ADDroach was not deemed an aDDroDriate indicator of value due to the aa8 of the subiect and therefore was not included herein. The Income . ADD roach was also deemed inannronriate for this ana""'ls. The purpose of this apptaisal is to estimate the ma1<et value of the real property that Is the subject of this report, based on the above conditions and tile certlficatioo, contingent and limiting conditions, and ma1<et value definition that n stated in the attached Freddie Mac Fonn 439/Fannie Mae Fonn 1004B (Revised 6/93 ). I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTYTHATlS THE SUBJECT OF THIS REPORT,AS OF 11/17/2006 . (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORTjTOBE$ 164 nnn . APPRAISER:~(J ~ L S.U~AP~Saj(ON~~: ODld [XJDid Not Signature '" . f1u)r<l--Ut Slgn""- Name Stan A. Skowronek Name Steven W. Barrett, SRPA, SRA Inspect Properly Date Report Signed 11/27/2006 Date Reoort Sinned 11/27/2006 State Certification # RL-001572-L State PA State Certification # GA-000298-L State PA Or State License # State Or State License # RB-026921-A State PA _....""""70 6-93 {;emfleaKeSldentlal {;ertlTled uenerarAi raiser Fannie Mae Fam 1004 6-93 Appraiser PAGE2OF2 PrDduc:.d UIing ACI...... 800.234.8727 _......cun S.W. Barrett Real Estate & Appraisal Services pp Borrower: Dorothy R. BEARD Pro e Address: 12 Robinson Avenue City: Shippensburg Lender: Ms. Elaine Killian Bedroom Bedroom Sketch by Apex IV Windows 1M FLOORPLAN File No.: 06-0521 Case No.: State: PA Zip: 17257-8233 0'1> of .~o, Q~~ Kitchen Living AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code Description Size Totals Breakdown Subtotals GLA1 Pir.t Ploor 1412.00 1412.00 First Ploor PIP Covered Porch 90.00 27.0 x 43.0 1161. 00 Wood Deck 256.00 346.00 3.0 x 25.0 75.00 GAR Two Car Garage 528.00 528.00 8.0 x 22.0 176.00 TOTAL LIVABLE (rounded) 1412 1412 3 Areas Total (rounded) Borrower: Dorothy R. BEARD File No.: 06-0521 Property Address: 12 Robinson Avenue Case No.: ~City: Sh!pI!!!lsburg State: PA ZiL17257 Lender: Ms. Elaine Killian \ \'~. nt' .t.;: //: ". I' -\ ~ '. .1 ,1. ! , , , , .~ I .. '\,\\ j/ ~! L V . .~\.\\1v' Ij('! / 1../ " f/. ".~ FRONT VIEW OF SUBJECT PROPERTY AppraisedDate: December 17, 2006 Appraised Value: $ REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: Dorothv R. BEARD FileNo.: 06-0521 Property Address: 12 Robinson Avenue Case No.: City: Ship"ensburg State: PA ZiQ:.J72~7 Lender: Ms. Elaine Killian COMPARABLE SALE #1 601 South Mountain Est Rd Shippensburg Sale Date: 12/0212005 Sale Price: $ 168,000 COMPARABLE SALE #2 116 Willow Drive Shippensburg Sale Date: 02/0712006 Sale Price: $ 155,000 COMPARABLE SALE #3 2 Pin Oak Lane Shippensburg Sale Date: 0711712006 Sale Price: $ 167,500 Borrower: Dorothy R. BEARD Property Address: 12 Robinson Avenue City: S'!!!p~ns!?urg Lender: Ms. Elaine Killian I I I I I I I I I I I I I I ~~ I I , I File No.: 06-0521 Case No.: State: PA Zip: 17257~~:p FloodMap Legend FIOOO lone-~ Flood lilt onnatlon Community: 421597 - SOUlHPMPTON. TO\HNSHIP OF I'ropelly is not in a FEMAspecillf flood hazard aI'\l3. Mop t.<unb<r: 421691 C016D t.b~ 0",.: 09,1i)4I10e9 Panel: 00169 FIPS: ~41 :!Dner: X III..,. .........0<1 "1 ~1'dr Ikodlng AI........._ ortl1ll '00-..... 53O-~Jf ~ _ III~.. N>dal.d by too.yur l1codlng _ Ill.. ~,d by lC>>ytar !IcodlngWllh \'1Ilo4;11y It4rlNd _ F~"YIIl..;G. _ ~ ".'SWll~ IItIQ(ilV h<<<lltd Alt.. GCUl'lCllti.rml/1od llU I>O$~ n..Il<I h*f<lld$ 01\1,.$ JI(4 "'~ O'l ftIo/Ml'lhtd FIf'tM Neitil<:r Tl3nsarnerioa Flood HaZ3l'd c.rtification (fF H Co) nor Ai:; I make any ~sentatons a lIJarmnli<:. to any pa~y o<flcerrjng tho ooltent, 300U130Y <T IX'mIlletene;:s of this flood report. inolu:lino any Ul3mlntlf of merotsntabrry a" fitnESS fer a pmioul;ar purpose. Neith>..r TFHC nor Ai:; I nor tle seier of this 'flood iePort shall have any tabllit.,. to ZllY thi"d pa;tv tor any use CI" misilse of this floo:l report. Borrower: Dorothy R. BEARD Pro e Address: 12 Robinson Avenue City: Shippensburg Lender: Ms. Elaine Killian LOCATION MAP File No.: 06-0521 Case No.: State: PA Zip: 17257-8233 Prepared by. Steven W. Barrell R.E. Appr. Svc. (717) 243-6646 File No. 06-0521 u*****u QUALIFICATIONS ********* Tho fOllowing checked items are SPECIFIC SPECIAL CONDITIONS that were Identified by this appraiser during the inspection of the sUbject property, the com parables sales, and their neighborhoods and locations. Unless otherwise noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home inspection service. This Is an appraisal to estimate market value. _1. The subject is located In a rural area and Is less than 25% built-up. 2. Commercial/Industrial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods. _x_3. Vacant and undeveloped land uses are located within the subject's neighborhood. These uses are typical for the area. _x_ 4. The predominant value In the neighborhood Is less than that of the market value of the subject property. This is due to the very wide range of value of properties In the area and superior quality of the subject property. _5. The subject property is located In a F.E.M.A. Identified Flood Zone. Flood Insurance coverage is required and suggested. _6. Dampness Is noted in the basement of the subject. Standing or running water was not present on basement floor. This condition Is considered typical In dwellings of this style. _7. The subject property Is serviced by private weil and/or septic systems which is common for the area. _x_8. The subject Is older than five(5) years. Ail mechanical systems including the heating, electrical and plumbing systems appear upon a visual exterior inspection to be in working order. No warranties are implied in this statement. _9. Repair items were noted In the comments section of the report. These comments on repair items are for descriptive purposes only and are not required repairs. The items listed are cosmetic in nature. _10. The basement floor Is a dirt floor. This condition Is common and typical for the area. and does not pose a health or safety hazard. _11. The subject property does contain functional obsolescence as noted in the report. This condition is considered typical and common for the area and this style dwelling. _12. The land value exceeds 30% of total value due to the high demand for vacant land In this neighborhood. This condition is considered common and typical for the neighborhood. _13. The land value exceeds 30% of total value. This is due to the large size of the site. This condition is considered to be typical and common. _14. Individual adjustments were required that exceed 15%. These adjustments were required due to lack of more similar com parables on that Individual rating. Ail com parables used are the best available. ~ 15. Total adjustments exceed 25%. this is due to the lack of comparable sales that were more similar in the subject's market area. All com parables used are the best available. _x_16. One or more comparable sales are older than slx(6) months. Although there are comparable properties In the subject's area, none have sold recently; therefore, sales in excess of six(6) months have to be used. Ail com parables used are the best available. _x_17. One or more com parables used were in excess of one (1) mile from the subject property. Although there are comparable properties In the Immediate area, none have sold recently. Therefore, it was necessary to use comparable sales outside of the immediate area. Ail com parables used are located In similar neighborhoods and within the same marketing area. Ail comparables used are the best available. _18. The electrical system was not connected during inspection. _19. The water service was not connected during Inspection. _20. The heating system was shut down during Inspection. _21. Roofing_Plumbing_Electrical_Heating_certlfication(s) is/are suggested. 22. Inground swimming pool_, out buildings_are Included_,not Included_according to lender's guidelines. _23. According to lender's guidelines a maximum of_acres were considered for this valuation. Remaining acreage was given no value. File No. 06-0521 ********* QUALIFICATIONS ********* _24. The subject property is located on a private road. _25. Wood infestation inspection is suggested. _x_26. Last recorded deed transfer: Date_04/01/1977-, Consideration: $_5,000 _27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like manner. _28. Seller is paying part or all of closing costs. _x_29. All comparable sales are verified closed sales. _x_30. There are no special conditions or other requirements that would affect market value or future marketability in the Appraisal Report. CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. File No. 06-0521 ********* QUALIFICATIONS ********* Confidentiality and Security Policy We consider privacy to be fundamental to our relationship with clients. We are committed to maintaining the confidentiality, Integrity and security of clients' personal information. Internal policies have been developed to protect this confidentiality, while allowIng client needs to be served. We restrict access to personal information to authorized Individuals who need to know this information to comply with federal standards to protect your non public personal Information. We do not disclose this Information about you or any former consumers or customers to anyone, except as permitted by law. The law permits us to share this information with our affiliates. The law also permits us to share this Information with companies that perform marketing. When we share nonpublic information referred to above, the information is made available for limited' purposes and under controlled circumstances. We require third parties to comply with our standards for security and conflentiallty. We do not permit use of consumer/customer Information for any other purpose nor do we permit third parties to rent, sell, trade or otherwise release or disclose information to any other party. Education As of the date of this report, I and/or Steven W. Barrett, SRPA, SRA, have completed the requirements under the continuing education program of the Appraisal Institute. File No. 06-0521 DEFINITION 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 com parables 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 markers reaction to the financing or concessions based on the Appraiser's judgment. STATEMENT OF LIMITING CONDITIONS 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 it 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 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 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 of 2 Fannie Mae Form 1004B 6-93 File No. 06-0521 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 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 limiting 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 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 and/or 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 provision 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 marketability of the subject 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: 12 Robinson Avenue, Shlppensbur!l, PA 17257-8233 APPRAISER: SUPERVISORY APPRAISER (only if required) S----0T2-~ Signature: '-- - f I~ Name: Steven W. Barrett. SRPA, SRA Date Signed: 11/27/2006 State Certification #: GA-000298-L or State License #: RB-026921-A State: PA Expiration Date of Certification or License: June 30, 2007 Signature: ~\ n" ~~nr~ Name: Stan A. Skowronek Date Signed: 11/27/2006 State Certification #: RL-001572-L or State License #: State: PA Expiration Date of Certification or License: June 30, 2007 o Did 00 Did Not Inspect Property Certified Residential Appraiser Freddie Mac Form 439 6-93 Certified General Appraiser Page 2 of 2 Fannie Mae Form 1004B 6-93 Kelley Blue Book - Private Party Pricing Report - Buick, LeSabre Kelley BlueBook THE TRUSTED RESOURCE M.t... ddvertisernent Page 1 of2 Se 1990 Buick LeSabre Custom Sedan 40 BLUE BOOK" PRIVATE PARn VALUE Condition Value $ $ ./ Fair $725 (Selected) Vehicle Highlights Mileage: Engine: Transmission: Drivetrain: 120,000 V6 3.8 Liter Automatic FWD Selected Equipment Standard Air Conditioning Power Steering AM/FM Stereo Blue Book Private Party Value Private Party Value is what a buyer can expect to pay when buying a used car from a private party. The Private Party Value assumes the vehicle is sold "As Is" and carries no warranty (other than the continuing factory warranty). The final sale price may vary depending on the vehicle's actual condition and local market conditions. This value may also be used to derive Fair Market Value for insurance and vehicle donation purposes. Vehicle Condition Ratings $ "Excellent" condition means that the vehicle looks new, is in excellent mechanical condition and needs no reconditioning. This vehicle has never had any paint or body work and is free of rust The vehicle has a clean title history and will pass a smog and safety inspection. The engine compartment is clean, with no fluid leaks and is free of any wear or visible defects. The vehicle also advertISement Close Window httn:/ /www.kbb.comIKBB/U sedCarslPricinQRenorUlsnx?M am]factllTf~rT cl=7 &y p~rT rl= 1 QQ f\!?7 !?or)? Kelley Blue Book - Private Party Pricing Report - Buick, LeSabre has complete and verifiable service records. Less than 5% of all used vehicles fall into this category. Good $ "Good" condition means that the vehicle is free of any major defects. This vehicle has a clean title history, the paint, body and interior have only minor (if any) blemishes, and there are no major mechanical problems. There should be little or no rust on this vehicle. The tires match and have substantial tread wear left. A "good" vehicle will need some reconditioning to be sold at retail. Most consumer owned vehicles fall into this category. -I Fair (Selected) $725 "Fair" condition means that the vehicle has some mechanical or cosmetic defects and needs servicing but is still in reasonable running condition. This vehicle has a clean title history, the paint, body and/or interior need work performed by a professional. The tires may need to be replaced. There may be some repairable rust damage. Poor "Poor" condition means that the vehicle has severe mechanical and/or cosmetic defects and is in poor running condition. The vehicle may have problems that cannot be readily fixed such as a damaged frame or a rusted-through body. A vehicle with a branded title (salvage, flood, etc.) or unsubstantiated mileage is considered "poor." A vehicle in poor condition may require an independent appraisal to determine its value. Kelley Blue Book does not attempt to report a value on a "poor" vehicle because the value of cars in this category varies greatly. * Pennsylvania 6/27/2007 htto:/ /www.kbb.comlKBBlUsedCars/Pricinl!Reoort.asDx?ManufacturerId=7& Y earl d= 1 99 __ Page 2 of2 o/J? /JOO? ~ ORRSTOWN BANK A Tradition of Excellence JUN 0 5 2007 June 4, 2007 77 East King Street P.O. Box 250 Shippensburg, PA 17257 To: Zullinger - Davis Hamilton C Davis Po Box 40 Shippensburg Pa 17257 From: Traci Shaffer Orrstown Bank Customer Service Center PO BOX 250 Shippensburg, Pa 17257 Re: Estate of Dorothy R Beard Date of death September 16, 2006 IT IS HERERBY CERTIFIED THAT THE ABOVE NAMED DECEDENT. ON THE ABOVE DATE. HAD THE FOLLOWING ACCOUNTS WITH ORRSTOWN BANK. CHECKING ACCOUNT Account # Title of Account 612553 Dorothy R Beard Elaine Killian Date opened 06/22/84 Principle 2217.96 Accrued Interest 0.00 SA VINGS ACCOUNT <A~ccount # Title of Account 30791 Dorothy R Beard Elaine Killian Date opened 07/05/84 Principle 27687.18 Accrued Interest 20.79 CERTIFICATE OF DEPOSIT Account # Title of Account Date Opened Principle Accrued Interest Qt LAST WILL AND TESTAMENT I, DOROTHY R. BEARD, of SOUTHAMPTON Township, Cumberland County, Pennsylvania, declare this to be my Last Will and Testament and revoke any Will or Codicil previously made by me. ITEM I: I direct that all my just debts (except as may be barred by a Statute of Limitations) and my funeral expenses (including my gravemarker and expenses of my last illness) shall be paid from my residuary estate as soon as practicable after my decease as a part of the administration of my estate. ITEM II: I devise and bequeath all of my estate of every nature and wherever situate to MY HUSBAND, LEON P. BEARD, providing he shall survive me by thirty (30) days. ITEM III: Should MY HUSBAND, LEON P. BEARD, predecease me or die on or before the thirtieth (30th) day following my death, I devise and bequeath all the residue. of my estate of every nature and wherever situate as in equal shares to such of my children, ROSEANN GROUP and ELAINE KILLIAN, as are living on the thirty-first (31st) day following my death. Should any of my ~children, ROSEANN GROUP or ELAINE KILLIAN, predecease me or die on or before the thirtieth day following my death but leaving descendants who so survive me, such descendants shall receive, per stirpes, the share that such predeceased child would have received had he or she so survived me. ITEM IV: If any property passes outright (either under this ~ Will or otherwise) to a minor (which shall be defined as anyone under twenty-one (21) years of age) and with respect to which I am authorized to appoint a guardian and have not otherwise specifically done so, I decline to appoint a guardian but instead authorize my Executor to distribute such property to a Custodian selected by my Executor (and my Executor may act as such Custodian) as Custodian for the minor under the Pennsylvania Uniform Transfers to Minors Act. Provided, however, that this appointment shall not supersede the right of any fiduciary to distribute a share where possible to the minor or to another for the minor's benefit. ITEM V: I direct that all taxes that may be assessed in consequence of my death, of whatever nature and by whatever jurisdiction imposed, shall be paid from my residuary estate as part of the expenses of the administration of my estate. I authorize my Executor, in my Executor's sole discretion, to make an election, in whole or in part, to cause a Pennsylvania Inheritance Tax to be payable by my estate on property passing to or for the benefit of my spouse or to defer the Pennsylvania Inheritance Tax on such property. My Executor shall be without ~liability to anyone for making or failing to make such election. ITEM VI: I appoint MY HUSBAND, LEON P. BEARD, Executor of this my Last Will. Should he fail to qualify or cease to act as Executor, I appoint my DAUGHTERS, ROSEANN GROUP and ELAINE 2 KILLIAN, substitute co-Executors of this my Last Will. ITEM VII: I direct that my Executors or Custodians or their successors shall not be required to give bond for the faithful performance of their duties in any jurisdiction. ITEM VIII: My individual fiduciary shall be entitled to reasonable compensation for his or her services rendered from time to time and/or to reimbursement of out of pocket expenses. ITEM IX: The interests of the beneficiaries hereunder shall not be subj ect to anticipation or to voluntary or involuntary alienation. IN WITNESS WHEREOF, I hereunto set my hand and seal to this My Last Will and Testament, written on FOUR (4) sheets of paper, dated this Zttt" day of ()Cf7)e,~ , 1999. l?\x~~ DOROTHY R. (SEAL) The preceding instrument, consisting of this and THREE (3) other typewritten pages, each identified by the signature or initials of the Testatrix, was on the day and date thereof signed, published and declared by the Testatrix therein named, as and for her Last Will, in the presence of us, who, at her request, in her presence, and in the presence of each other have subscribed our names as witnesses hereto. \1;\ZL1j f I! \~ IMP, residing at #ewv//!e ;-1, residing at {lhmiYMJfrMj i1! 3 COMMONWEALTH OF PENNSYLVANIA ss. COUNTY OF CUMBERLAND I, DOROTHY R. BEARD, the Testatrix whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will; and that I signed it willingly and as my free and voluntary act for the purposes therein expressed. \/~~jk,~SEAL) \,J D OTHY R. Sworn to or affirmed and acknowledged before me by j)Of6i~ R... g~AUJ , the Testator, this 2q day of 6~ , 1999. k."",- tary Public NOTAIIAL SEAL MNA M. I!ROOICENS. Notary P\IbIic leNa, Curnbeliand Co., 'It. . May I, 2CIOO COMMONWEALTH OF PENNSYLVANIA ss. COUNTY OF CUMBERLAND We, HAMILTON C. DAVIS and -,-- tJ..J7JJ? J-/o/S~ ' the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw the Testatrix sign and execute the instrument as her Last Will; that 'the Testatrix signed willingly and executed it as her free and, voluntary act for the purposes therein expressed; that each subscribing witness in the hearing and sight of the Testatrix signed the Will as a witness; and that to the best of our knowledge the Testatrix was at the time eighteen (18) or more years of age and of sound mind and under no constraint or undue influence. , ~ Public , NOTARiAL SEAl. -.,-... , ,1,\ ~'lS "l.-.~ " SIii~.Ju 'i "'<Vf'lJry ,,,,...blic , ....;, ~ .bo. Cumb.rland Co., PI< ! lIIIOn 001,. May S, 2000 I FIRST CODICIL TO LAST WILL AND TESTAMENT I, DOROTHY R. BEARD, of Southampton Township, Cumberland County, Pennsylvania, declare this to be the First Codicil to my last Will dated October 29, 1999. ITEM I: I do hereby amend my Last Will and Testament dated October 29, 1999, by revoking ITEM II and ITEM II~ thereof and replacing them with the following: "ITEM II: As my husband, LEON P. BEARD, has predeceased me and my grandson, RYAN KILLIAN, is so very close to me (and he was so to his grandfather, Leon,) I devise and bequeath all of the residue of my estate of every nature and wherever situate as follows: A. One-third (113) thereof to my daughter, ROSEANN HANEY; B. One-third (113) thereof to my daughter, ELAINE KILLIAN; and C. One-third (113) thereofto my grandson, RYAN KILLIAN. Ryan's share is to include Leon's Onyx ring. "ITEM III: Should any of the above named beneficiaries predecease me or die on or before the thirtieth day following my death but leaving descendants who so survive me, such descendants shall receive, per stirpes, the share that such predeceased beneficiary would have received had he or she so survived me. ITEM II: In all other respects, I hereby ratify, confirm and republish my last Will ,. A ~ dated October 29, 1999, together with this First Codicil as and for my last Will. IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~g+t- day of 61Lil( , 2006. ~~. ~(Seal) DOROTHY R. BE Signed, published, and declared on the date above specified by the above named DOROTHY R. BEARD as and for the First Codicil to her last Will dated October 29, 19999; in the presence of us, who at her request, in her presence, and in the presence of each other, have subscribed our names as witnesses hereto. \.iW'CLif~~ ~ . residing.t t4.7L;L re&dIDg.~iw~ j t4 2 COMMONWEALTH OF PENNSYL VANIA : ss. COUNTY OF CUMBERLAND I, DOROTHY R. BEARD, the Testatrix whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Codicil to my last Will dated; and that I signed it willingly and as my free and voluntary act for the purposes therein expressed. J4,~R~ DOROTHY R. ARD (Seal) Sworn to or affirmed and acknowledged before me by DOROTHY R. BEARD, . the Testatrix, this Cl&f:A- day of . ~ ,2006. ~~MA-l:~ Notary Pu IC COMMONWEALTH OF PENNSYLVANIA. Notarial Seal !eresa J. Burkholder, Notary Public Shlppensbur~ Boro, Cumberland County My COInIrussion Expires Aug. 6, 2008 Member, Pennsylvania As';;ociatlon of Notaries COMMONWEALTH OF PENNSYL VANIA : ss. COUNTY OF CUMBERLAND We'~11 L- AA-/LEI/ and ^//cho/~J ;j/f/t:. , the witnesses whose names are signed to the attached instrument, being duly qualified according to law, do depose and say that we were present and saw the Testatrix sign and execute the instrument as her Codicil; that the Testatrix signed willingly and executed it as her free and voluntary act for the purposes therein expressed; that each subscribing witness in the hearing and sight of the Testatrix signed the Codicil as a witness; and that to the best of our knowledge the Testatrix was at the time eighteen (18) or more years of age and of sound mind and under no constraint or undue influence. ~ .4" ~ 'J " '\..0Ut -.- (lj ed.and subscriped. to Ie' EJ. -Kelt{ ~and ~- A- -, witnesses, this .'6).. '-~.UAOA t\ ,2006. ~~ ~~f:trLvi:WcLu.- N Pu lie COMMONWEALTH OF PENNSYLVANIA Notarial Seal !eresa J. Burkholder. Notary Public SMhippenC sbur~ !loro, Cumberland County Y ommlSSlon Expires Aug. 6. ~008 Member, Pennsylvania A~""-1ciatlon '.1 ~ 3