HomeMy WebLinkAbout09-07-07
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15056041125
REV-1500 EX (06-05)
PA Department of Revenue*,
~~~~:~~g~~~uaITaxes INHERITANCE TAX RETURN
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
OFFICIAL USE ONLY
County Code Year
2 1 0 6
File Number
1 115
Date of Birth
165382425
1209200 6
o 4 0 3 1 9 2 1
BENNER
ANN
MI
M
Decedent's Last Name
Suffix
Decedent's First Name
(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
[ZI 1. Original Return
o 4. Limited Estate
[ZI
o
2. Supplemental Return
o
o
3. Remainder Return (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
4a. Future Interest Compromise (date of
death after 12-12-82)
7. Decedent Maintained a Living Trust
(Attach Copy of Trust)
10. Spousal Poverty Credit (date of death 0 11. Election to tax under Sec. 9113{A)
between 12-31-91 and 1-1-95) (Attach Sch. 0)
CORRESPONDENT. THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
6. Decedent Died Testate
(Attach Copy of Will)
9. Litigation Proceeds Received
o
o
[ZI
o
8. Total Number of Safe Deposit Boxes
J A C QUE L I N E
Firm Name (If Applicable)
A
KELLY,
E S Q
7 1 7 5 4 1 ~~5 5 0
o c:;::
REGIST~ILLS US~Ni.Y -,
, 'J rrJ
,,-,,'0 -0
',;;f;; I
..... =::: -.l
\j.J ",/_".
J A N
L
B ROW N & ASS 0 C I ATE S
First line of address
8 4 5
SIR
THOMAS
C 0 U R T
C) -n
-Ti
Second line of address
N
SUI T E
1 2
_D
t--
.--
....
DATE FILEDU1
City or Post Office
State
ZIP Code
H A R R I S BUR G
P A
17109
Correspondent's e-mail address:JACKIEJLB~VERIZON.NET
Under penalties of pe~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 OF PERSON ONSIBLE F FILING RETURN TE
-E~c . q
ADDRESS
14812
SPRING HILL
FL 34609
<-
ADDRESS
845 S R TOMAS COURT, SUITE 12 HARRISBURG
PLEASE USE ORIGINAL FORM ONLY
PA 17109
Side 1
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15056041125
15056041125
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15056041125
REV-1500 EX (06-05)
PA Department of Revenue '*
~~~~~~~~~uaITaxes INHERITANCE TAX RETURN
Harrisburg, PA 17128.{)601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
OFFICIAL USE ONLY
County Code Year
2 1 0 6
File Number
111
5
Date of Birth
16538 242 5
1209200 6
o 4 0 3 1 9 2 1
BENNER
ANN
MI
M
Decedent's Last Name
Suffix
Decedent's First Name
(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
00 1. Original Retum
o 4. Limited Estate
00
o
o 2. Supplemental Retum
o 4a. Future Interest Compromise (date of
death after 12-12-82)
00 7. Decedent Maintained a Living Trust
(Attach Copy of Trust)
o 10. Spousal Poverty Credit (date of death 0 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. 0)
CORRESPONDENT. THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
o
o
3. Remainder Return (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
6. Decedent Died Testate
(Attach Copy of Will)
9. Litigation Proceeds Received
8. Total Number of Safe Deposit Boxes
J A C Q U E L I N E A K ELL Y , E S Q 7 1 7 5 4 1 5 5 5 0
Firm Name (If Applicable) REGISTER OF WILLS USE ONLY
J A N L B ROW N & A S S 0 C I ATE S
First line of address
8 4 5 S I R T HOMAS C 0 U R T
Second line of address
S U I T E 1 2
City or Post Office State ZIP Code DATE FILED
H A R R I S B U R G P A 1 7 1 0 9
Correspondent's e-mail address:JACKIEJLB@VERIZON.NET
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 any knowledge.
51 N RE OF P ON PO SIBLE FOR FILING RETURN
-i/.
SPRING HILL
FL 34609
ADORE
845
OMAS COURT, SU TE 12 HARRISBURG
PLEASE USE ORIGINAL FORM ONLY
PA 17109
Side 1
L
15056041125
15056041125
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15056042126
REV-1500 EX
Decedent's Social Security Number
Decedent's Name: ANN M. BENNER
RECAPllULA liON
165382425
2. Stocks and Bonds (Schedule B)
.................................. 2.
O. 0 0
771084.65
1 . Real estate (Schedule A)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1.
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.
92800.71
11. Total Deductions (total Lines 9 & 10)
. . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
4 2 3 7 1 8. 3 1
1 2 8 7 6 0 3. 6 7
1 0 0 5 3 4. 6 7
7 8 2 5. 2 2
1 0 8 3 5 9. 8 9
1 1 7 9 2 4 3 . 7 8
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.
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.
1179243.78
lAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2) X.O _
16. Amount of Line 14 taxable
at lineal rate X .042-
17. Amount of Line 14 taxable
at sibling rate X .12
18. Amount of Line 14 taxable
at collateral rate X .15
o . 0 0
18.
O. 0 0
5 3 o 6 5. 9 7
O. 0 0
o . 0 0
5 3 o 6 5. 9 7
0
o . 0 0
15.
1179243.78
16.
o . 0 0
17.
19. Tax Due
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
Side 2
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15056042126
15056042126
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REV-1500 EX Page ~
Decedent's Complete Address:
DECEDENT'S NAME
File Number
21 06 1115
ANN M. BENNER
----.. ._---~-------
STREET ADDRESS
47 LeAnn Court
\ STATE
PA
-1--_.._---
; ZIP
117025
CITY
Enola
Tax Payments and Credits:
1. Tax Due (Page 2 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
53,065.97
48,000.00
2.526.24
Total Credits (A + B + C ) (2)
50,526.24
3. Interest/Penalty if applicable
D. Interest
E. Penalty
T otallnterest/Penalty ( D + E ) (3)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund. (4)
0.00
0.00
2,539.73
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5)
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
(5A)
(5B)
2,539.73
A. Enter the interest on the tax due.
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred; ...................................................................... 0 00
b. retain the right to designate who shall use the property transferred or its income; ............................... 0 00
c. retain a reversionary interest; or ................................................................................................ 0 00
d. receive the promise for life of either payments, benefits or care? ....................................................... 0 00
2. If death occurred after December 12,1982, did decedent transfer property within one year of death
without receiving adequate consideration? ....................................................................................... 0 00
3. Did decedent own an 'in trust for' or payable upon death bank account or security at his or her death? ......... 0 00
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? .................................................................................................. 00 0
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is three (3) percent [72 P.S. ~9116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P .S. ~9116 (a) (1.1) (Ii)]. The statute does not exempt 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-"03 EX . (6.
SCHEDULE B
STOCKS & BONDS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
21 06 1115
ESTATE OF
ANN M. BENNER
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11 .
12.
13.
14.
15.
16.
DESCRIPTION
VALUE AT DATE
OF DEATH
9,482.22
Abbott Laboratories
198 shares of common stock @ $47.89
Aflac Inc.
102.324 shares of common stock @ $44.32
4,535.00
AIM Equity FDS; Large Cap Growth Fund
420.488 shares @ $11.545
4,854.53
AIM Sector FDS Inc.; AIM Technology Fund
141.781 shares @ $28.69
4,067.70
AIM International FDS Inc.; European Growth Fund
142.295 shares @ $42.565
6,056.79
Allied Irish Bank Pic
778 shares @ $57.895
45,042.31
Allstate Corp
153 shares @ $64.01
9,793.53
Altria Group Inc.
71 shares @ $84.925
6,029.68
American High lilc Tr
2,976.54 class A shares @ $12.64
37,623.47
AT&T Inc.
432.114 shares @ $35.075
15,156.40
Bond Fund of America
10,770.773 class A shares @ $13.410
144,436.07
Capital Income Builder Fund
2,323.748 class A shares @ $61.665
143,293.92
Chevron Corp
76 shares @ $73.265
5,568.14
Cisco Systems Inc.
100 shares @ $27.045
2,704.50
Citigroup Inc.
81 shares @ $52.365
4,241.57
Conocophillips
209.178 shares @ $70.895
14,829.68
TOTAL (Also enter on line 2, Recapitulation) $
(If more space is needed. insert additional sheets of the same size)
771 084.65
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
ANN M. BENNER
Decedent's Name
Page 1
21 06 111 5
File Number
Schedule B - Stocks & Bonds
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
17. Dupont EI Denemour 9,950.76
211 shares @ $47.160
18. Exxon Mobil Corp 9,277 .89
123 shares @ $75.43
19. Fedex Corporation 18,018.50
156.431 shares @ $115.185
20. General Electric Company 6,994.97
198.467 shares @ $35.245
21. Hewlett-Packard Company 15,452.10
388 shares @ $39.825
22. Idearc Inc. 354.77
13 shares @ $27.29
23. Income Fund of America 141,246.01
6805.397 class A shares @ $20.755
24. International Business Machine Corp 7,781.25
83 shares @ $93.75
25. Johnson & Johnson 2,567.18
39 shares @ $65.825
26. Kimberly-Clark Corp 8,154.90
123 shares @ $66.30
27. Kraft Foods 2,580.18
73.772 class A shares @ $34.975
28. Lilly Eli & Company 5,399.00
100 shares @ $53.99
29. McDonalds Corp 4,367.00
100 shares @ $43.67
30. MDU Resources Group Inc. 5,114.71
195.554 shares @ $26.155
31. Microsoft Corp. 3,064.88
104 shares @ $29.47
SUBTOTAL SCHEDULE B
240,324.10
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
ANN M. BENNER
Decedent's Name
Page 2
21 06 1115
File Number
Schedule B . Stocks & Bonds
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
32. Pepsico Inc. 6,301.50
100 shares @ $63.015
33. Pfizer Incorporated 12,785.56
508.170 shares @ $25.16
34. Procter & Gamble Company 6,388.00
100 shares @ $63.88
35. Progress Energy Inc. 9,204.29
191 shares @ $48.19
36. Safeway Inc. 6,402.00
200 shares @ $32.01
37. Scana Corp New 4,106.50
100 shares @ $41.065
38. Spectrasite Inc. 436.00
2 shares @ $218.00
39. Touchstone Invt Tr 45.74
4.858 shares @ $9.415
40. Vectren Corp. 5,664.56
197.509 shares @ $28.68
41. Verizon Communications 9,230.00
260 shares @ $35.50
42. Wachovia Corp 8,465.82
151 shares @ $56.065
43. Walgreen Company 1,798.67
41 shares @ $43.87
44. Wal-Mart Stores Inc. 2,216.40
48 shares @ $46.175
SUBTOTAL SCHEDULE B 73,045.04
GRAND TOTAL SCHEDULE B $ 771,084.65
REV-' 508 EX' (6.
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
ANN M. BENNER
FILE NUMBER
21 06 1115
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
VALUE AT DATE
OF DEATH
19,758.11
ITEM
NUMBER
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11 .
12.
13.
14.
15.
16.
DESCRIPTION
M& T Bank
Checking Account No. 9837295634
Sovereign Bank
Savings Account No. 924300668
2,446.97
M&T Bank
Checking Account; miscellaneous credit
20.80
M&T Bank
Checking Account; miscellaneous credit
50.59
Cumberland County Veteran's death benefit
100.00
Household goods and furnishings
4,196.50
2004 Mercury Sable Sedan
see attached kelley blue book value
9,515.00
Sears Gold MasterCard; refund
139.95
Comcast Cable; refund
86.33
Sun Life Financial
Annuity Contract No. KA12833710-01
estate is beneficiary
USAA auto insurance refund
18,272.12
1,454.57
reimbursement for county taxes; real property located at 47 LeAnn Court, Enola, PA
228.88
reimbursement for school taxes; real property located at 47 LeAnn Court; Enola, PA
1,794.04
reimbursement for sewer/trash; real property located at 47 LeAnn Court, Enola, PA
78.13
reimbursement for association dues; real property located at 47 LeAnn Court, Enola, PA
1.31
A.G. Edwards
Account #1639-3561; cash balance
34,397.41
TOTAL (Also enter on line 5, Recapitulation) $
(If more space is needed. insert additional sheets of the same size)
92800.71
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
ANN M. BENNER
Decedent's Name
Page 3
21061115
File Number
Schedule E - Cash, Bank Deposits, & Misc. Personal Property
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
17. rent check for real property located at 47 LeAnn Court, Enola, PA 260.00
SUBTOTALSCHEDULEE 260.00
GRAND TOTAL SCHEDULE E $ 92,800.71
REV-1510 EX + (6-9~)
*'
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
ANN M. BENNER
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
FILE NUMBER
21 06 1115
DESCRIPTION OF PROPERTY
ITEM INClUDE THE NAME OF THE TRANSFEREE, THEIR RElATIONSHIP TO DECEDENT AND DATE OF DEATH % OF DECO'S EXCLUSION TAXABLE
NUMBER THE DATE OF TRANSFER ATTACH A COPY OF THE DEED FOR REAL ESTATE VALUE OF ASSET INTEREST VALUE
(IF APPLICABLE)
1. A.G. Edwards 53,874.71 100. 53,874.71
IRA Account No. 1639-3572
four sons are beneficiaries
2. Nationwide Financial 101,276.09 100. 101,276.09
Annuity Contract No. 013352151; beneficiaries are: 50% to
Ann Benner's children, 50% to James Benner's children
3. James R. Benner and Ann M Benner Revocable Liv Trust 231,317.85 100. 231,317.85
comprised of the following:
Real property located at 47 LeAnn Court, Enola, P A 17025
T Rowe Price International FDS(PRIDX);195.264 sh@ $51.72 0.00
T Rowe Price Sci & Tech (PRSCX); 359.618 shs @ $21.28
USGloballnv All American Eq(GBTFX);107.639 sh @ $29.64
USGlobal Acc Holmes Growth(ACBGX);660.19 sh @ $19.02 0.00
USGlobal Acc Holmes Growth ACBGX);311.567 sh @ $19.02
Rydex Investments (RYOCX OTC-lnv);747.931 shs @ $11.89
4. Transamerica Life Insurance Company 37,249.66 100. 37,249.66
Annuity Number 020N00281 0
four sons are beneficiaries
TOTAL (Also enter on line 7 Recapitulation) $ 423718.31
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes,
(If more space is needed, insert additional sheets of the same size)
REV-1511 EX + (12-,99)
.
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
ANN M. BENNER
FILE NUMBER
21 06 1115
ITEM
NUMBER
A.
1.
2.
B.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
Debts of decedent must be reported on Schedule I.
DESCRIPTION
AMOUNT
FUNERAL EXPENSES:
Michael J. Shalonis Funeral Home
funeral luncheon
2,021.60
338.55
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
Name of Personal Representative (5) Allen P. Sutton and Nancy N. McCrea
Social Security Number(s)/EIN Number of Personal Representative(s) 167-38-6806; 175-38-3339
Street Address 14812 Copeland Way (Allen); 165 Bayberry Drive (Nancy)
City SprinQ Hill, FL 34069(A1len); Limerick, PA State Zip
Year(s) Commission Paid: 2007
Attomey Fees Jan L. Brown & Associates
Family Exemption: (If decedents address is not the same as claimants, attach explanation)
Claimant
Street Address
38,644.00
40,000.00
City
Relationship of Claimant to Decedent
State
Zip
Probate Fees Cumberland County Register of Wills
510.00
Accountants Fees Parks & Company
250.00
Tax Retum Prepare(s Fees Arlene Franks Justice, preparation of 2006 income tax returns
499.00
Cumberland Law Journal; legal advertising
The Sentinel; legal advertising
AT&T; services for real property at 47 LeAnn Court, Enola, PA
East Pennsboro Township; sewer/sanitation for 47 LeAnn Court, Enola, PA
Pennsylvania American Water; real property at 47 LeAnn Court, Enola, PA
UGI Utilities; real property at 47 LeAnn Court, Enola, PA
PPL Electric Utilities; real property at 47 LeAnn Court, Enola, PA
Debbie Lupoid, Treasurer, real estate taxes for 47 LeAnn Court, Enola, PA
Patriot News; advertising of real property at 47 LeAnn Court, Enola, PA
B&T Inspections Inc.; inspection of 47 LeAnn Court, Enola, PA
Register of Wills; additional short certificates
Register of Wills; filing fee for Inheritance Tax Return and Inventory
75.00
144.29
64.38
230.00
101.22
486.74
196.46
542.48
200.96
765.00
32.00
30.00
TOTAL (Also enter on line 9, Recapitulation) $
(If more space is needed. insert additional sheets of the same size)
100534.67
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
ANN M. BENNER
Decedent's Name
Page 4
21 06 1115
File Number
Schedule H . Funeral Expenses & Administrative Costs. B7.
ITEM
NUMBER
DESCRIPTION
AMOUNT
19.
20.
21.
22.
23.
24.
25.
Register of Wills; filing fee for family settlement agreement
Recorder of Deeds; recording of Deed
M& T Bank; insufficient funds fee
Sherwood Court Homeowners Association; certificate for sale of house
Roger L. Sutton; repairs to 47 LeAnn Court, Enola, PA
settlement costs; real property at 47 LeAnn Court, Enola, PA
A.G. Edwards; estate valuation fee
20.00
39.50
114.00
320.00
110.04
14,699.45
100.00
SUBTOTAL SCHEDULE H.B7
15,402.99
REV-1512 EX + (12-03)
*'
SCHEDULE.
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
ANN M. BENNER
FILE NUMBER
21 06 1115
Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses.
ITEM
NUMBER
1.
DESCRIPTION
Macy's credit card #41-474-304-491-0; outstanding debt
VALUE AT DATE
OF DEATH
440.00
2.
Blair County Anesthesia PC; outstanding medical bill
22.46
3.
FIA Card Services. Account #4264298926169684; outstanding debt
890.94
4.
U.S. Treasury; 2006 income taxes
4,372.00
5.
Pennsylvania Department of Revenue; 2006 income taxes
1,733.00
6.
Sears; outstanding debt
269.02
7.
M& T Checking account; check cleared after death
82.77
8.
M& T Checking account; check cleared after death
15.03
TOTAL (Also enter on line 10, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
7,825.22
"'.""".'-
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
ANN M. BENNER
SCHEDULE J
BENEFICIARIES
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OFESTATE
I. TAXABLE DISTRIBUTIONS pnclude outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
1. Allen P. Sutton Lineal 147,405.48
14812 Copeland Way
Spring Hill, FL 34608
2. Nancy N. McCrea Lineal 141,509.25
165 Bayberry Drive
Limerick, PA 19468
3. Jeffrey T. Sutton Lineal 147,405.48
35 Moyer Lane
Shermans Dale, PA 17090
4. Roger L. Sutton Lineal 147,405.47
712 Wertzville Road
Enola, PA 17025
5. Warren L. Sutton Lineal 147,405.47
3246 Highway 348
Loris, SC 29569
6. Page F. Knox Lineal 141,509.25
412 Whitpain Hills
Blue Bell, SC 29588
7. Thomas A. Benner Lineal 141,509.25
345 Oakland Avenue
Lansdale, PA 19446
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
FILE NUMBER
21 06 1115
(If more space is needed, insert additional sheets of the same size)
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
ANN M. BENNER
Decedent's Name
Page 5
21 06 1115
File Number
Schedule J - Beneficiaries - 1
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS (include outright spousal distributions)
8. Suzanne C. Grashof Lineal 141,509.25
313 Creek Crossing Lane
Chester Springs, PA 19425
9. James R. Benner, Jr. Lineal 23,584.88
312 Weatherbee Road
Towson, MD 21286
,. "
e:7 FI LE
LAST WILL AND TEST AMENT
OF
ANN M. BENNER
I, ANN M. BENNER, now domiciled in Cumberland County, Pennsylvania, declare this to
be my Last Will and Testament. I revoke all other wills and codicils that I may have previously
made.
Article I
My just debts and expenses of my last illness, funeral, and administration of my estate shall
be paid by my Executor from the principal of my residuary estate as soon as practicable after my
death.
Article II
All inheritance, estate, and succession taxes (including interest and penalties thereon, but not
including any generation skipping tax) payable by reason of my death shall be paid out of and be
charged generally against the principal of my residuary estate without reimbursement from any
person. This provision is not a waiver of any right which my Executor has to claim reimbursement
for any such taxes which become payable as the result of any property over which I have the power
of appointment.
Article ill
I give, devise and bequeath in accordance with any memorandum which I have either
handwritten or signed, located with my will or with my valuable papers and found within 30 days of
the probate of my will. Gifts may only be to persons who survive me or to organizations which exist
at my death, and if there is a conflict, the memorandum having the latest date shall govern.
Article IV
All the rest, residue and remainder of my estate, of whatsoever nature and wheresoever
situate, I give, devise and bequeath according to the following schedule:
A. FIFTY PERCENT (50%) of my estate IN EQUAL SHARES to my children,
ALLEN P. SUTTON, WARREN L. SUTTON, ROGER L. SUTTON, and JEFFREY T.
SUTTON. Ifany of my beneficiaries listed in this paragraph predecease me or fail to survive me by
thirty (30) days, I give, devise and bequeath his or her share to his or her issue who survive me, per
stirpes, or ifhe or she has no issue, the share(s) are to be added equally to the other shares of those
beneficiaries listed in this paragraph (Article IV, paragraph A).
B. FIFTY PERCENT (50%) of my estate shall be distributed according to the
following schedule:
1.
TWENTY-FOUR PERCENT (24%) of the FIFTY PERCENT
(50%) to my stepdaughter, PAGE KNOX, of Blue Bell, Pennsylvania. In the event PAGE KNOX
predeceases me or fails to survive me by thirty (30) days, I give, devise and bequeath her share to
JAMES R. BENNER, JR.
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,
2.
TWENTY-FOUR PERCENT (24%) of the FIFTY PERCENT
(50%) to my stepdaughter, SUZANNE C. GRASHOF, of Chester Springs, Pennsylvania, per
stirpes.
3.
TWENTY-FOUR PERCENT (24%) of the FIFTY PERCENT
(50%) to my stepdaughter, NANCY N. McCREA, of Limerick, Pennsylvania, per stirpes.
4.
TWENTY-FOUR PERCENT (24%) of the FIFTY PERCENT
(50%) to my stepson, THOMAS A. BENNER, of Lansdale, Pennsylvania. In the event THOMAS
A. BENNER predeceases me or fails to survive me by thirty (30) days, I give, devise and bequeath
his share to his issue, per stirpes, or in the event he dies without leaving any issue, then to his wife,
RACHEL S. BENNER
5.
FOUR PERCENT (4%) of the FIFTY PERCENT (50%) to my
stepson, JAMES R BENNER, JR., of Baltimore, Maryland, per stirpes.
If any of my beneficiaries listed in paragraph B ofthis Article, with the exception of PAGE
KNOX and THOMAS A. BENNER, predecease me or fail to survive me by thirty (30) days, I give,
devise and bequeath his or her share to his or her issue who survive me, per stirpes, or if he or she
has no issue, the share(s) are to be added equally to the other shares ofthose beneficiaries listed in
paragraph B of this Article. In the event that PAGE KNOX predeceases me or fails to survive me
by thirty (30) days, I give, devise and bequeath her share to JAMES R BENNER, JR., per stirpes.
In the event that THOMAS A. BENNER predecease me or fails to survive me by thirty (30) days, I
give, devise and bequeath his share to his issue, per stirpes, or in the event he dies without leaving
any issue, then to his wife, RACHEL S. BENNER
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\
Article V
Except as otherwise provided in this Will, I have intentionally failed to provide for any
other persons or relatives, whether claiming to be an heir and/or relative of mine or not. Insofar
as I have failed to provide in this Will for any of my relatives, and/or issue now living or later
born or adopted, such failure is intentional and not occasioned by accident or mistake.
Specifically, WILLIAM R. BENNER and JOHN W. BENNER are not to inherit any monies
or property, personal or real, under the terms ofthis Will.
Article VI
If any person or entity other than me singularly or in conjunction with any other person or
entity directly or indirectly contests in any court the validity of this Will, including any amendments
or codicils thereto, then the right ofthat person or entity to take any interest in my estate shall cease,
and that person or entity shall be deemed to have predeceased me.
Article VII
I nominate, constitute, and appoint my son, ALLEN P. SUTTON, and my stepdaughter,
NANCY N. McCREA as Co-Executors of my Last Will and Testament. In the event of the
renunciation, death, or inability to act, for any reason whatsoever of ALLEN P. SUTTON, then I
nominate, constitute and appoint JEFFREY T. SUTTON as a replacement Successor Co-Executor.
In the event ofthe renunciation, death, or inability to act, for any reason whatsoever of NANCY N.
McCREA, then I nominate, constitute and appoint SUZANNE C. GRASHOF as a replacement
Successor Co-Executor. I direct that my Co-Executors or successor Co-Executors be permitted to
serve without bond and in addition to those powers granted by law, I grant them power to distribute
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,
in cash or in kind in like or in unlike shares and to file any qualified disclaimer I could have filed if
living. My Co-Executors or successor Co-Executors shall receive reasonable compensation for
services rendered to my estate.
Article vrn
In addition to the powers conferred by law, I authorize my Co-Executors and successor Co-
Executors, in his/her absolute discretion:
(a) to retain in the form received and to sell either at public or private sale, any real estate or
personal property except that which I specifically bequeath herein,
(b) to manage real estate,
(c) to invest and reinvest in all forms of property without being confined to legal
investments, and without regard to the principal of diversification,
(d) to exercise any option or right arising from the ownership of investments,
(e) to compromise claims without court approval and without consent of any beneficiary,
(f) to file any federal income tax return for any year for which I have not filed such return
prior to my death,
(g) to make distributions in cash or in kind, or in both, and to determine the value of any
such property,
(h) to employ any attorney, investment advisor, or other agent deemed necessary by my
Executor; and to pay from my estate reasonable compensation for all their services,
(i) to conduct alone or with others, any business in which I am engaged in, or have an
interest in at time of my death, and
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(j) to receive reasonable compensation in accordance with their standard schedule of fees in
effect while their services are performed.
IN WITNESS WHEREOF, I, ANN M. BENNER, hereby set my hand to this my Last Will
and Testament, on '1'Yl11 "I
2005.
Cc~. 1Yl. '1~~~
ANN M. BENNER
In our presence, the above-named ANN M. BENNER signed this and declared this to be her
Last Will and Testament and now at her request, in her presence, and in the presence of each other,
we sign as witnesses.
Name
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In C/ C-U ({"-. u.' {. m A SJJ-~
f ~u.uJaJ( ~.
Address
845 Sir Thomas Court, Suite 12, Harrisburg, PAl 7109
845 Sir Thomas Court, Suite 12, Harrisburg, PAl 71 09
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.
I, ANN M. BENNER, Testatrix, who signed the foregoing instrument, having been duly
qualified according to law, acknowledge that I signed and executed this instrument as my Will, and
that I signed it willingly as my free and voluntary act for the purposes therein expressed.
Sworn to or affirmed and
acknowledged before me by
ANN M. BENNER, the Testatrix
on , 1).- { 9 2005.
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ANN M. BENNER
COMM~TH OF Pat
MCoUEUN NOTARIAL NSYl.VAffIA
lOWER pAXf~' IlEU.t NOTARY PUBlIC
MY COMMISSION :;~~rb~ ~
We, the undersigned witnesses who signed the foregoing instrument, being duly qualified
according to law, depose and say that we were present and saw the Testatrix sign and execute this
instrument as her Will; that she signed and executed it willingly as her free and voluntary act for the
purposes therein expressed; that each of us in her sight and hearing signed the Will as witnesses, and
that to the best of our knowledge, that she was at that time eighteen (18) years or more of age, of
sound mind, and under no constraint or undue influence.
Sworn to or affirmed and
subscribed to before me
by jiJ('{).H~ A. ~ hU5j,oJe.
and i={} ulcut VJ;\ (}. ,
witnesses, on < f--19 ' 2005.
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Itness
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Witness
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COMMONWEALTH Of PENNSYlVANIA
NOTARiAl SEAL
JACOUEUNE A. Kill\: NOTARY PUBLIC
lDWER PAXTON TWP.. DAUPHIN coum
MY COMMISSION EXPIRES DEC. 17, 2007
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FfJ_r
FIRST AMENDMENT TO REVOCABLE TRUST AGREEMENT
OF JAMES R. BENNER AND ANN M. BENNER
DATED APRIL 30, 2003
THIS FIRST AMENDMENT TO REVOCABLE TRUST AGREEMENT DATED
APRI.L~, 2003, b~ ~ames R. Benner and Ann M. Benner, Settlors and Trustees, is made
this ~ day of No\! e. VYI.,~~2004, pursuant to the right reserved to Settlors under Article
Five of the Trust Agreement as follows:
1. FIRST: Settlors revoke in its entirety Codicil "A" to tbe James R. & Ann M.
Benner Living Trust.
2. SECOND: Settlors delete Section (F)(2), Distribution of tbe Balance of tbe
Trust Estate. of Article One of tbe Living Trust dated April 30, 2003 and insert tbe
following:
(F)(2) Distribution of the Balance of the Trust Estate:
(a) After provision has been made for the above noted specific distributions, one-half
(1/2) of the balance of the Trust Estate shall be distributed to the heirs of the Settlor, Ann M.
Benner, namely Allen P. Sutton, Warren L. Sutton, Roger L. Sutton, and Jeffrey T. Sutton,
in equal shares, or if predeceased to their issue, per stirpes.
/ (b) One-half (l/2) of the balance of the Trust Estate shall be distributed to the heirs of
/ the Settlor, James R. Benner, as follows:
1. twenty-four percent (24%) to Frances P. Knox, to be held IN TRUST
according to Section (F)(3) of this Article, or if predeceased to James R. Benner, Jr.;
2. twenty-four percent (24%) to Suzanne C. Grashof, or if predeceased to
her issue in equal shares, per stirpes;
3. twenty-four percent (24%) to Nancy N. McCrea, or if predeceased to her
issue in equal shares, per stirpes.
4. twenty-four percent (24%) to Thomas A. Benner, or if predeceased to his
issue in equal shares, per stirpes, and in the event he dies without leaving then living issue, then
to his wife, Rachel S. Benner;
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5. four percent (4%) to James R. Benner, Jr., or if predeceased to his issue
in equal shares, per stirpes.
6. Except as otherwise provided in this Trust, I have intentionally failed to
provide for any other persons or relatives, whether claiming to be an heir and/or relative of mine
or not. Insofar as I have failed to provide in this Trust for any of my relatives, and/or issue now
living or later born or adopted, such failure is intentional and not occasioned by accident or
mistake. Specifically, WILLIAM R. BENNER and JOHN W. BENNER are not to inherit any
monies or property, personal or real, under the terms of this Trust.
3. THIRD: Settlors insert the following Section (F)(3) under Section (F)(2),
Distribution of the Balance of the Trust Estate. of Article One of the Living Trust dated
April 30, 2003:
(F)(3) Distribution of Frances P. Knox's Share: If Frances P. Knox has not
attained the age of seventy (70), my Trustee is hereby directed to continue to hold and manage
such share for the benefit of Frances P. Knox until she attains the age of seventy (70); and shall
administer, manage, and distribute according to the following:
I. I direct my Trustee to disburse the entire net income of the Trust to
Frances P. Knox in monthly, or other convenient installments, but not less than annually.
2. Upon attaining the age of sixty (60), one-third (1/3) of Frances
P. Knox's share shall be distributed outright to her.
3. Upon attaining the age of sixty-five (65), one-third (1/3) of Frances P.
Knox's share shall be distributed outright to her.
4. Upon attaining the age of seventy (70), the remaining principal and
accumulated income of Frances P. Knox's share shall be distributed outright to her.
5. No beneficiary or remainderman of this Trust shall have any right to alienate,
encumber, or hypothecate his or her interest in the principal or income of the Trust in any manner,
nor shall any interest be subject to claims of his or her creditors or liable to attachment, execution, or
other processes of law.
4. FOURTH: Settlors insert the following Section (F)(4) under Section
(F)(3), Distribution of Frances P. Knox's Share. of Article One of the Living Trust dated
April 30, 2003:
(F)(4) Appointment of Financial Advisor to Mana!!e the Trust Funds: I
direct the Trustee to employ Israel Borges as financial advisor of the Living Trust dated April 30,
2003 Trust Funds and any Trust(s) created under the Living Trust dated April 30, 2003, as long
as Israel Borges is a licensed advisor and competeIlt and his annual charge for trust securities
does not exceed two percent (2%) of all securities not including securities already with
Wachovia Banle He shall not be removed unless he is deemed incompetent.
2
S. FIFTH: Settlors delete the first paragraph (not numbered) under Article
Three, Trust Provisions for Grandchildren and other Issue. ofthe Living Trust dated April 30,
2003 and insert the following:
If a grandchild or other issue of Settlor's children are beneficiaries entitled to receive
a share ofthe principal ofthe Trust Estate and shall not have attained the age offorty-five (45) years,
the Trustees are hereby authorized and empowered to continue to hold, manage and distribute such
share for the following uses and purposes:
6. SIXTH: Settlors delete Section (2) of Article Three, Trust Provisions for
Grandchildren and other Issue. of the Living Trust dated April 30, 2003 and insert the
following:
(2) When such beneficiary reaches age thirty-five (35), one-third (1/3) ofthe then
remaining principal and any accumulated income of his or her share shall be distributed to such
beneficiary. When such beneficiary reaches age forty (40), one-third (1/3) of the then remaining
principal and any accumulated income of his or her share shall be distributed to such beneficiary.
On the date upon which said beneficiary attains the age of forty-five (45) years, the Trustees are
directed to distribute to said beneficiary the entire remaining balance of principal and accumulated
income then remaining thereon, at which time said trust shall terminate.
7. SEVENTH: Settlors delete Section (5) of Article Three, Trust Provisions for
Grandchildren and other Issue. of the Living Trust dated April 30, 2003 and insert the
following: .
(5) The Trustee ofthe Trust for the benefit of grandchildren or other issue of Ann
M. Benner, shall be by appointment hereby, Allen P. Sutton. In the event that Allen P. Sutton
should predecease, fail to qualify, cease to act or renounce this appointment then Jeffrey T. Sutton,
shall serve as contingent Trustee.
The Trustee of the Trust for the benefit of grandchildren or other issue of
James R. Benner, shall be by appointment hereby, Nancy N. McCrea. In the event that Nancy N.
McCrea should predecease, fail to qualify, cease to act or renounce this appointment then Suzanne
C. Grashof, shall serve as contingent Trustee.
8. EIGHTH: Settlors delete Section (e), Successor Trustee(s). of Article Four of
the Living Trust dated April 30, 2003 and insert the following:
(C) Successor Trustee( s ): Upon the death, disability, incapacity or resignation of a
Trustee, during the lifetimes ofthe Settlors, the Settlors may, but are not required to, appoint one or
more Co-Trustees or Successor Trustees. Upon the death, disability, incapacity or resignation of a
Trustee following the death of the surviving Settlor, then the remaining Trustee if any may appoint
one or more Successor Trustees.
Unless the Settlors make other provisions during their lifetimes, as is their unlimited
right, then upon the death or incapacity of the surviving Settlor, Allen P. Sutton and Nancy N.
3
McCrea, shall serve as Successor Co-Trustees. In the event that Allen P. Sutton should predecease,
fail to qualify, cease to act or renounce this appointment then Jeffrey T. Sutton, shall serve as a
replacement Successor Co-Trustee. In the event that Nancy N. McCrea should predecease, fail to
qualify, cease to act or renounce this appointment then Suzanne C. Grashof, shall serve as a
replacement Successor Co-Trustee. No bond or security shall be required of any Trustee named or
appointed hereunder or of their successors in any jurisdiction where they may serve.
9. NINTH: Settlors confirm and readopt the remaining provisions of the Trust
Agreement reserving themselves the right to further amend the Trust Agreement dated
April 30, 2003 and this amendment thereto.
IN WITNESS WHEREOF, Settlors have hereunder set their hands and seals this day and
year first written.
WITNESS:
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ES R. BENNER, Settlor
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ANN M. BENNER, Settlor
,(lvvt.h . A..Q, /}Nv T It vs 7 EI?-
J ES R. BENNER, Trustee
C'~ fh ~AMA).;-7~
ANN M. BENNER, Trustee
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF DAUPHIN
On this the5 -fA- day of 1\) oV J{~, 2004, before me, a Notary Public, the
undersigned officer, personally appeared James R. Benner and Ann M. Benner as Settlors and
Trustees, known to me or satisfactorily proven to be the persons whose names are subscribed to
the within instrument and acknowledged that they executed the same for the purposes therein
contained.
SS:
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
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UNot ' Public U
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COMMONWEAlTH OF PEftNSYLYANlA
NOTARIAL SEAl
w:attElJNE A. KEll'( NOTARY PUBlIC
LOWER PAXrON TWP., DAUPHIIC COUN1Y
MY COMMISSION EXPIRES DEe. 17, 2007
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REVOCABLE
TRUST AGREEMENT
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MADE this 30th day of April, 2003 by and between James R. Benner and Ann M.
Benner, husband and wife, residents of Enola, Cumberland County, Pennsylvania, (hereinafter
referred to as the "Settlors"), and James R. Benner and Ann M. Benner, husband and wife, of
Enola, Cumberland County, Pennsylvania, as the Trustees (hereinafter collectively referred to as
the "Trustees"). This Trust amends by revoking in its entirety the former Declaration of Trust
made July 24, 2001, by and between the Settlors and Trustees herein, and any subsequent
amendments heretofore made, and substituting therefore the following:
WIT N E SSE T H:
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ARTICLE ONE
(A) Establishment of Trust Estate: The Settlors have transferred and delivered to \}
the Trustees that property more fully described in Schedule "A", attached hereto and made part -:-'\.5..,
hereof (the "Property"). The Trustees shall hold and administer the Property, together with all other -:v
cash or property of any kind which the Trustees at any time may acquire from the Settlors or from \\ ~
others by inter-vivos transfer or pursuant to beneficiary designations by Last Will and Testament or. "'A
otherwise, including, but not limited to, the residue and remainder of Settlors' Estate as provided for ~ , r~_
in Settlors' Last Wills and Testaments ("Additions"), together with the proceeds, investments and -~ c,~-.;
reinvestments with respect thereto as a trust estate ("Trust Estate") on the terms and condition rr~
hereinafter set forth. (L
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The name of the Trust herein created shall be THE JAMES R. BENNER and ANN M.
BENNER REVOCABLE TRUST, dated April 30, 2003.
(B) Distributions to Settlors Durine Settlors Lifetime: During the lifetime of the
Settlors, the Trustees shall pay to the Settlors or expend for the Settlors' benefit the entire net income
produced by the Trust Estate ("Income") in convenient installments or otherwise as Settlors may
from time to time direct, together with such portion of the principal of said Trust Estate as Settlors
may from time to time direct or, if Settlors give no directions, as the Trustees deem advisable to
provide for the health, welfare and comfortable support of the Settlors, and to continue Settlors'
accustomed pattern of giving to individuals and organizations. Any unexpended Income shall be
added to principal and invested as such.
(C) Distributions of Trust Estate in tbe Event a Settlor Becomes Incapacitated: If
at any time a Settlor is under a legal disability, or if by reason of illness or mental or physical
disability a Settlor is "incapacitated," as such term is defined below, and is unable to make or
communicate responsible decisions concerning Settlor's affairs, the Trustees shall use the income
and part or all of the principal of the Trust Estate for the care, comfort and support of the
Settlor, or for any other purpose which the Trustees, in their sole and absolute discretion, deem to
be for the best interests of the Settlor.
"Incapacity" of a Settlor shall be determined by the existence of one or more of the following:
(l) There is a court order, which such Trustee or beneficiary deems to be jurisdictionally
proper and still concurrently applicable, holding a person to be legally incapacitated to act on his or
her own behalf or appointing a guardian to act for him or her, or
(2) There is a duly executed, witnessed, and acknowledged written certificate of a
licensed physician (whom represents that he or she is certified by a recognized medical board), to
the effect that the physician has examined the Settlor and has concluded that such person has become
incapacitated to act rationally and prudently in his or her own financial best interests, or
(3) There is evidence which such Trustee or beneficiary deems to be creditable and still
currently applicable that the Trustee has disappeared, is unaccountably absent, or is being detained
under duress where he or she is unable effectively and prudently to look after his or her own best
interests.
Given the occurrence of such events or circumstances, the affected Settlor shall be deemed
to have become incapacitated. Such incapacity shall be deemed to continue until such court order,
certificates, and/or circumstances have become inapplicable or have been revoked.
Any physician's aforesaid certificate may be revoked by a similar certificate to the effect that
the person is no longer incapacitated executed either: (a) by the originally certifying physician or
(b) by another licensed, board certified physician. No Trustee shall be under any duty to institute
any inquiry into the person's possible incapacity, but the expense of any such inquiry reasonably
instituted may be paid from the Trust assets. Payment for such inquiry refers both to a reasonable
inquiry as to the incapacity of such individual and to that inquiry as to the revocation of such a
certificate.
(D) Distribution of Trust Estate Upon the First Settlor's Death:
Upon the death of the first Settlor to die, the Trustees are authorized to pay to the deceased
Settlor's personal representative or to expend directly such sums as deceased Settlor's personal
representative shall request in writing to supplement the deceased Settlor's estate in order to pay
particular legacies, debts, funeral expenses, administration expenses, estate inheritance and other
taxes in the nature thereof, together with any interest or penalties thereon, becoming due by reason
2
of the Settlor's death with respect to the property constituting Settlor's gross estate for death tax
purposes, whether or not such property passes under this Trust Agreement; PROVIDED,
HOWEVER, that no assets shall be used for this purpose which are not otherwise included in a
deceased Settlor's gross taxable estate; and PROVIDED FURTHER, that if the Trust Estate contains
any United States government bonds which are redeemable at par in payment of Federal estate taxes,
the Trustees shall apply them directly in payment of said taxes, regardless of the sufficiency of assets
in the estate or any direction in the Last Will and Testament of the Settlor to pay all such taxes from
the probate estate.
(E) Division of Trust Estate Upon the Death of the First Settlor: Upon the death
of the first Settlor to die, the trustee is hereby directed and authorized to divide the Trust Estate into
the Marital Trust and the Residual Trust as more fully defined and set forth below.
(I) MARITAL TRUST: The Marital Trust shall consist of, one-half (~) of
the then value of the trust estate, including additions, if any, made upon the death of the first
Settlor to die. Surviving Settlor shall direct which property of the total trust property shall be
allocated to the Marital Trust, however property not qualified for the marital deduction shall not
be allocated to this Marital Trust.
(a) During the lifetime of the surviving Settlor: During the lifetime of the
surviving Settlor, trustees shall hold and distribute the marital trust as follows:
(i) Trustees shall pay and distribute to the surviving settlor the entire net income
from the principal of the marital trust, which payments shall be made to the surviving settlor
periodically but not less frequently than quarterly.
(ii) In addition, trustee shall from time to time pay to the surviving settlor, or
shall apply directly for the benefit ofthe surviving settlor, as much of the principal of the marital
trust as the trustee, in its absolute discretion, may consider desirable for the health, maintenance
and support of the surviving settlor, after considering all resources available to said surviving
settlor. If any property that is part of the marital trust shall be or become unproductive of income
consistent with its value, the surviving settlor may require the trustee to make it productive or
convert it within a reasonable time to property that is clearly productive of income consistent
with its value.
(b) Qualified Terminable Interest Property Election: The executor or
trustee shall, in its absolute discretion, determine whether to elect under Section 2056(b )(7) of
the Internal Revenue Code of 1986, to qualify any portion of the marital trust for the federal
estate tax marital deduction. Generally, the executor is expected to minimize the estate tax
payable. However, consideration is also to be given to the estate tax that would be payable by
the estate of the surviving settlor, especially if the survivor should die prior to the time the
election is made. The determination of the executor or trustee if no executor is appointed with
respect to the exercise of the election shall be conclusive on all affected persons.
3
(c) Taxes and Costs Attributable to the Marital Trust: On the death of the
surviving settlor, trustee shall deduct and pay to personal representative, from the marital trust,
an amount equal to any additional administration expenses and estate and inheritance taxes
assessed against the estate by reason of the inclusion therein for tax purposes of the then
remaining principal of the marital trust. Such amount shall be determined by the successor
trustee, whose determination shall be conclusive.
(d) Final Disposition of the Marital Trust: Any then remaining balance of
principal shall be added to and thereafter shall form a part of the principal of the residuary trust,
hereinafter created, to be held and distributed as though originally a part thereof. If the residuary
trust shall not have been created for any reason or shall have been exhausted, the remaining
principal shall be held in trust upon the same terms and conditions hereinafter specified for the
residuary trust.
(2) RESIDUARY TRUST: Upon the death of the first Settlor to die, any part of
trust estate not distributed under the foregoing provisions hereof relevant to the Marital Trust
shall be held by the trustee under the following terms and conditions which define and control
the Residuary Trust.
(a) During The Lifetime of The Surviving Settlor:
(i) Income Distributions: The Trustees shall pay as much of the net income of
the Residuary Trust to the surviving Settlor, as the Trustees in their sole discretion may from
time to time think advisable for the health, welfare, comfort and support of the surviving Settlor,
in quarterly installments, or more convenient installments, or apply the same directly for the
support of the surviving Settlor, should the surviving Settlor, by reason of age, illness or any
other cause in the opinion of the Trustees be incapable of disbursing it.
(ii) Principal Distributions: The Trustees shall distribute as much of the
principal of the Residuary Trust as the Trustees in their sole discretion may from time to time
think advisable for the health, welfare, comfort and support of the surviving Settlor.
It is the Settlor's express intent that the above distributions be made so that the surviving
Settlor may be maintained in the manner of living and in the station of life to which the surviving
Settlor is accustomed at Settlor's death, taking into account the other readily available assets and
sources of income of the surviving settlor..
(iii) Additional Withdrawals of Principal: In addition to the above provisions,
the surviving Settlor shall have the power to direct the Trustees to pay to the surviving settlor or
to apply out of principal of the Residuary Trust in each year including the year of Settlor's death
an amount not in excess of the greater of Five Thousand ($5,000) Dollars or Five (5%) percent of
the then aggregate value of the principal of the Residuary Trust. This power is noncumulative
and can be exercised only by an instrument in writing signed by the surviving Settlor and
4
delivered to the Trustees.
(F) Following The Death of The Surviving Settlor: Upon the death of the surviving
Settlor, or upon the death of the deceased Settlor, if the surviving Settlor does not survive Settlor
by at least thirty (30) days, the then remaining principal of the Residuary Trust and any
accumulated or undistributed income shall be distributed as follows:
(1) Specific Distributions from the Trust Estate:
Prior to any distribution of the balance of the Trust Estate, the following specific
distributions shall be made by the Successor Trustee: NONE
(2) Distribution of the Balance of the Trust Estate:
0- (I) After provision has been made for the above noted specific distributions, one-half
(Yz) of the balance of the Trust Estate shall be distributed to the heirs of the Settlor, Ann M.
Benner, namely Allen P. Sutton, Warren L. Sutton, Roger L. Sutton, and Jeffrey T. Sutton,
in equal shares, or if predeceased to their issue, per stirpes.
Ie (2) One-half (~) of the balance of the Trust Estate shall be distributed to the heirs of
the Settlor, James R. Benner, as follows: ~
~k l~ ()'Q.~ ~ ((=- J 3
(a) twenty-four percent (24%) to Francis P. Knox, or ifpredeceas~d to James R.
Benner Jr.;
of .~
~~
z... (b) twenty-four percent (24%) to Suzanne C. Grashof, or if predeceased to her
issue in equal shares, per stirpes;
3. (c) twenty-four percent (24%) to Nancy N. Macrae, or if predeceased to her
issue in equal shares, per stirpes;
'to (d) twenty-four percent (24%) to Thomas A. Benner, or if predeceased to his
issue in equal shares, per stirpes, and in the event he dies without leaving then living issue, then
to his wife, Rachel S. Benner;
,-..,
~. (e) four percent (4%) to James R. Benner, Jr., or if predeceased to his issue in
equal shares, per stirpes.
l.Q . (f) There shall be no distribution of any property to William R. Benner or John
W. Benner.
/. '
. j
'.-
5
ARTICLE THREE
TRUST PROVISIONS FOR GRANDCHILDREN AND OTHER ISSUE:
If a grandchild or other issue of Settlor's children are beneficiaries entitled to receive a share of
the principal of the Trust Estate and shall not have attained the age of thirty-five (35) years, the
Trustees are hereby authorized and empowered to continue to hold, manage and distribute such
share for the following uses and purposes:
(I) The Trustees shall payor apply to or for the use of the beneficiary thereof, in quarterly
or other convenient installments, so much of the income and principal (even to the point of
exhausting the same) as the trustees, in their sole discretion, deem advisable, to provide for the
health, welfare, maintenance, support, education and emergency need of said beneficiary, taking into
consideration the other available resources of said beneficiary. The term "education" as used herein
shall include such expenses as tuition, room, board, books, and supplies necessary to complete a
normal two or four-year college education, and graduate education, as well as technical, or
vocational training, at an accredited institution, should the beneficiary thereof show aptitude and
desire to pursue such education.
,
(2) When such beneficiary reaches age twenty-five (25), one-third (113) of the then
remaining principal and any accumulated income of his or her share shall be distributed to such
beneficiary. When such beneficiary reaches age thirty (30), one-half (~) of the then remaining
principal and any accumulated income of his or her share shall be distributed to such beneficiary.
On the date upon which said beneficiary attains the age of thirty-five (35) years, the Trustees are
directed to distribute to said beneficiary the entire remaining balance of principal and accumulated
income then remaining thereon, at which time said trust shall terminate.
(3) If the beneficiary thereof dies before receiving final distribution hereunder, the
undistributed balance thereof shall be distributed in equal shares to the children of said beneficiary
in equal shares, or if predeceased, to the issue of said beneficiary, per stirpes and if said beneficiary
dies without leaving surviving issue then to settlor's other family members as if said beneficiary
thereof had predeceased the surviving settlor. Such distribution of the balance of any beneficiary's
share shall be made in accordance with the provisions herein, with respect to whether the share will
be delivered outright and free from trust, or whether the share will continue in trust based on the age,
needs and interval distributions as more fully set forth above.
(4) In the disbursement of funds directed to be paid to or for the use and benefit of any
beneficiary who shall not have attained the age of eighteen (18) years, the Trustees may, in their sole
and absolute discretion, make payment of the same to the parent, guardian or such other person, if
any, having custody of the beneficiary who has not yet attained the age of eighteen (18) years at the
time such payments are made, to be used for the health, education, welfare, maintenance and support
of such beneficiary, but without liability on the part of the Trustees to see the application of said
payments by the payee, and the receipt of any such person shall be a full acquittance of the Trustees
as to any amounts so paid, or the Trustees may make payment of the same directly to or for the
6
benefit of such beneficiary. This shall be construed as a power only and shall not operate to suspend
the absolute ownership thereof by such beneficiary who has not yet attained the age of eighteen (18)
years, nor prevent the absolute vesting thereof of such beneficiary.
(5) The Trustee of the Trust for the benefit of grandchildren or other issue of Ann M.
Benner, shall be by appointment hereby, Allen P. Sutton. In the event that ~ould
predecease, fail to qualify, cease to act or renounce this appointment th Jeffrey T. Sutton, 'hall ,_
serve as contingent Trustee. c:>hLl J? ~ _ ) I
vII VULt"1 ~
The Trustee of the Trust for the benefit of grandchildren or other issue of James R.
Benner, shall be by appointment hereby, Nancy N. Macrae. In the event that Nancy N. Macrae
should predecease, fail to qualify, cease to act or renounce this appointment then Suzanne L.
Grashof, shall serve as contingent Trustee.
(6) Notwithstanding anything to the contrary herein contained, upon the expiration of
twenty-one (21) years following the death of the survivor of all the beneficiaries herein named or
described who are living at the death of the first Settlor to die, all Trusts remaining hereunder shall
terminate, and the principal shall be transferred and delivered to the person then entitled to the
Income therefrom.
(7) Neither the principal nor the income of any portion of the Trust Estate shall be liable
or subject to the contracts, debts, liabilities or torts, now or hereafter made, contracted, incurred or
committed, of any beneficiary or remainderman; nor shall the principal or income of the Trust Estate
be liable to attachment by garnishment proceedings or other legal process; nor shall any assignment
or order either of principal or income, given by any beneficiary or remainderman be valid, but the
principal and Income shall be paid by the Trustees directly to or for the use of the beneficiary entitled
thereto, without regard to any assignment, order, attachment or claim whatever. Every such
attempted assignment or other disposition by any beneficiary or remainderman shall not be merely
voidable, but absolutely void, except that this provision shall not impair or restrict the exercise of
any power of appointment granted hereunder. No payment hereunder shall become the property of
any beneficiary or remainderman until it is received by him or his guardian.
ARTICLE FOUR
PROVISIONS WHICH GOVERN THE TRUSTEES
(A) Powers of the Trustees: The Trustees hereunder shall have the following powers,
in addition to and not in limitation of those granted by law:
1. Accept. Purchase and Retain Assets: To accept assets in kind from the Settlor,
his estate or elsewhere, to purchase assets from the estate and to retain such assets
in kind;
7
2. Sale and Investment of Other Assets: To sell assets and to invest and reinvest
the proceeds and any other cash in any kind of property, real or personal, or part
interest therein, located in the United States or abroad, including interest-bearing
accounts in or certificates issued by any finn, including a Corporate fiduciary, and
securities underwritten by syndicates of which the corporate fiduciary is a member
but not purchased from the Trustees, all statutory and other limitations as to the
investment of funds, now or hereafter enacted or in force, being waived;
3. Hold Cash: To hold Income cash uninvested until the next regular payment
date, without liability for interest thereon;
4. Purchase Life Insurance: To retain or to purchase policies oflife insurance, to
pay premiums thereon from income or principal and to exercise all rights of
ownership thereof;
5. Encumber Assets: To pledge, exchange or mortgage real or personal property
and to lease the same for any reasonable tenn;
6. Give Options: To give options for sales, leases and exchanges;
7. Compromise Claims: To compromise claims and controversies;
8. Vote Common Stock: To vote shares of corporate stock, in person or by
proxy, in favor of or against management proposals;
9. Carry Securities Without IdentifYin~ Trust Estate: To carry securities in the
name of a nominee, including that of a clearing corporation or depository, or in
book entry fonn or unregistered or in such other form as will pass by delivery;
10. Distribution in Kind: To make division or distribution hereunder either in
cash or in kind; and, in connection therewith, to allocate to different kinds of, or
interests in, property and property having different bases for federal income tax
purposes, all as the Trustees deem equitable;
11. Investment of Trust Estate Assets: To invest and reinvest the Trust Estate
funds (or leave them temporarily uninvested), in any type of property and every
kind of investment, without regard to any principle of diversification of risk, and
without being limited to "legal investments", including (but not limited to)
corporate obligations of every kind, preferred or common stocks, securities
of any regulated investment trust, and partnership interests.
12. Participate in Business Operations: To participate in the operation of any
business or other enterprise for whatever period of time the Trustees deem proper,
8
with full power to do any and all things deemed necessary or appropriate,
including the power to incorporate any unincorporated business; to vote any and
all shares of stock owned in any such business; to borrow and to pledge assets as
security for such borrowing; to assent to, join in, or vote in favor of or against any
merger, reorganization, voting trust plan, or similar action, and to delegate
discretionary duties with respect thereto; to delegate all or any part of the
supervision, management and operation of the business to such person or persons
as may be selected; and to close out, liquidate, or sell the business at such time
and upon such terms as the Trustees deem advisable.
13. Deposit Funds: To deposit Trust Estate funds in any commercial savings or
savings and loan accounts, or in "money market" or similar accounts maintained
by any corporate fiduciary.
14. Borrow Funds: To borrow money for any reasonable Trust Estate purpose
from any lender, including the power to borrow from the probate estate of Settlor
for the purpose of payment of taxes or on behalf of any separate trust hereunder
from any other separate trust hereunder, upon such terms, including (but not
limited to) interest rates, security, and loan duration, as they deem advisable.
15. Make Loans: To lend Trust Estate funds to such persons and on such terms,
including (but not limited to) interest rates, security, and loan duration, as the
Trustees deem advisable, including the power to make loans to the Settlor during
his lifetime.
16. Sale of Trust Estate Assets: To sell or otherwise dispose of Trust Estate
assets, including (but not limited to) Trust Estate real Property, for cash or credit,
at public or private sale, and with such warranties or indemnifications as the
Trustees deem advisable.
17. Alteration or Disposal of Trust Estate Assets: To improve, develop, manage,
lease, or abandon any Trust Estate assets, as the Trustees deem advisable.
18. Hold Prope~ Without Identifying Trust Estate: To hold property in the
name of any Trustee or any custodian or nominee, without disclosing this trust,
but the Trustees are responsible for the acts of any custodian or nominee the
Trustees so use.
19. Compensate for Administration: To pay and advance money for the Trust
Estate's protection and for all expenses, losses, and liabilities sustained in its
administration.
20. Act as Legal Representative: To prosecute or defend any action for the
9
protection of the Trust Estate, the Trustees in the performance of their duties, or
both, and to pay, contest, or settle any claim by or against the Trust Estate or the
Trustees in the performance of their duties.
21. Hire Consultants. etc. : To employ and dismiss agents, brokers, investment
advisors, accountants, attorneys and employees, regardless of whether they are
associated with the Trustees, or the Trustees or affiliates or employees thereof,
and to advise or assist them in the performance of their duties.
22. Allocate Between Principal and Income: To determine what is principal or
income and what items shall be charged or credited to either.
23. Execute Binding Legal Instruments: To execute and deliver any instruments
necessary or useful in the exercise of any of the foregoing powers.
24. Retain Non-Income Producing Property: To retain, during the lifetime of the
Settlors, for so long as the Trustees may deem advisable any property whatsoever,
regardless of whether or not such property is income producing.
25. Retain Settlor's Personal Residence: Following the death of the Settlor, the
Trustees are authorized to retain as part of the Trust Estate for the personal use of
the surviving Settlor, any property occupied by Settlor and the Surviving Settlor at
the death of Settlor as their principal place of residence for so long as the
surviving settlor wishes to occupy said residence. During such period of
retention, the Trustees shall pay from the income or principal of the separate trusts
established hereunder as the Trustees may deem to be in the best interests of such
trusts and their beneficiaries, all taxes and assessments levied upon or assessed
against residence, and all costs of maintaining, repairing and insuring said
residence.
No obligation of rent shall be imposed upon the surviving Settlor during any
period of occupation of said residence. On written or oral request of the surviving
Settlor, the Trustees may sell said residence and replace it with other property
which in the opinion of the Trustees is suitable as a residence for the surviving Settlor,
to be retained in the trust in the same manner as the property which was replaced.
26. Authority to Sign Documents: Either Trustee shall have the power to execute
individually any and all documents necessary to carry out the powers, functions,
and duties of the position of Trustee. Such power shall include, but shall not be
limited to: the signing of checks, the opening of bank or other financial accounts,
the disbursement of Trust funds, the execution of contracts, and other such financial
transactions.
10
(B) Resignation of Trustees: Any Trustee may resign at any time during Settlors'
lifetimes by written notice to Settlors. After the death of the last Settlor to die, a Trustee may
resign at any time, without stating cause, by notice to the remaining Trustee(s); provided,
however that prior to the resignation of a sole remaining individual Trustee, such Trustee's
resignation shall not become effective until after such Trustee has appointed a trustee as
successor, and such trustee has accepted such appointment. Absent such appointment and
acceptance, said Trustee's resignation shall not become effective until said Trustee has petitioned
a court of competent jurisdiction to designate a successor trustee.
(C) Successor Trustee(s): Upon the death, disability, incapacity or resignation of a
Trustee, during the lifetimes of the Settlors, the Settlors may, but<@not required to, appoint one
or more Co-Trustees or Successor Trustees. Upon the death, disability, incapacity or resignation
of a Trustee following the death of the surviving Settlor, then the remaining Trustee if any may
appoint one or more Successor Trustees.
Unless the Settlors make other provisions during their lifetimes, as is their unlimited
right, ~en upon the death or incapacity of the surviving Settlor, Allen P. Sutton and Nancy N.
Macra~~ shall serve as Successor Co-Trustees. In the event that Allen P. Sutton should
predecease, fail to qualify, cease to act or renounce this appointment then Jeffrey T. Sutton,
shall serve as a replacement Successor Co-Trustee. In the event that Nancy N. Macrae should
predecease, fail to qualify, cease to act or renounce this appointment then Suzanne C. Grashof,
shall serve as a replacement Successor Co-Trustee. No bond or security shall be required of any
Trustee named or appointed hereunder or of their successors in any jurisdiction where they may
serve.
(D) Replacement of a Corporate Trustee: If at any time a corporate trustee has been
appointed during the lifetime of Settlors, the Settlors may replace such corporate trustee by
written notice to said corporate trustee, and may, but shall not be required to, designate a
successor corporate trustee. Following the death of the Settlors, the individual Trustees may
replace a corporate trustee by written notice thereto, and may, but shall not be required to,
designate a successor corporate trustee.
(E) Compensation of Trustees: The Trustees shall be entitled to receive annual
compensation for their services hereunder but not in excess of such compensation as would be
approved by a court of competent jurisdiction. Payment of such compensation to a Trustee, in
his, her or its capacity as such shall not preclude payment to any Trustee for the rendition of
professional services for, or on behalf of, the Trust Estate. For any services performed by the
Trustees in connection with Settlors' estates, which services are normally performed by the
personal representative, the Trustees shall be entitled to such additional compensation as may be
fair and reasonable under the circumstances.
(F) Authority to Terminate Small Trusts: Should the principal of any Trust Estate
herein provided for, be or become too small in the Trustees' discretion to make establishment or
11
continuance of the Trust Estate advisable, the Trustees may make immediate distribution of the
remaining principal and Income outright to the Income beneficiaries in the proportion to which
they are then entitled to the Income. The receipts and releases of the distributees will terminate
absolutely the right of all persons who might otherwise have a future interest in any portion of
the Trust Estate, whether vested or contingent, without notice to them and without the necessity
of filing an account with the court.
(G) Merger: The Trustees may merge or consolidate for administrative purposes any
trust established under this Trust Agreement with any other trust established by Settlor of the
surviving Settlor having the same Trustee and substantially the same dispositive provisions.
(H) Division and Delegation of Duties by Trustees: One or more of the Trustees may,
whenever, as often, and for such period as they shall deem it advisable to do so, delegate to one
or more of the other Trustees, any or all ministerial and administrative duties, including the
keeping of books and records, acting as custodian of the Trust Estate property, and preparing all
necessary tax returns, as well as the authority to exercise in their names and behalf any or all the
powers, authorizations, discretion, and duties vested in or devolving upon them as Trustees under
the provisions of this Trust Estate. Any action taken by the Trustees to which such division or
delegation shall be made shall have the same force and effect as if taken and exercised by the
designating or delegating Trustee(s) acting in conjunction with the designated or delegated
Trustee(s). Any such delegation shall be sufficiently evidenced for any and every purpose if
contained in a writing, signed by the designating Trustee(s) and delivered to the designated
Trustee(s).
(I) Fiduciary Restrictions. Discretion and Elections: The powers and discretion
granted to the Trustees are exercisable only in a fiduciary capacity and may not be used to shift or
enlarge any beneficial interest except as an incidental consequence of the discharge of fiduciary
duties. The Trustees may make discretionary payments of income and principal in unequal
shares to the beneficiaries of any trust established hereunder, and may, but shall not be required
to, consider other resources available to any beneficiary. The Trustees may make tax elections
without regard to the relative interests of any beneficiaries and may, but shall not be required to,
make equitable adjustments among beneficiaries.
(J) Limitatio 0
1. Decisions Re~arding Principal Distributions From the Residuary Trust:
Notwithstanding anything herein contained to the contrary, the surviving Settlor shall not
participate in, nor have any power to make, any decisions regarding discretionary
distributions of any portion of the principal of the Residuary Trust. Such decisions shall be
made by the Successor Trustee appointed in Article Four, Paragraph (C) hereunder.
12
shall have no right to participate in any decisions affecting the Residuary Trust which might result in
the inclusion of the principal thereof in surviving Settlor's estate for federal estate tax purposes. If any
provision of this Trust Agreement shall result in the inclusion of any portion of the Residuary Trust in
the estate of surviving Settlor, such provision is hereby revoked and this Trust Agreement shall be read
as if any provision thereof inconsistent with exclusion of any portion of the Residuary Trust from the
estate of surviving Settlor is null and void.
(K) Disposition of Accrued Income Following Death of Income Beneficiary: Upon the
death of any Income beneficiary, any Income accrued or received by the Trustees subsequent to the last
Income payment date shall be paid to the person or persons for whose benefit the principal producing
such Income is continued in trust or to whom such principal is distributed under the terms hereof.
(L) Stock Dividends Allocated To Principal: Corporate distributions received in shares of
the distributing corporation shall be allocated to principal, regardless of the number of shares and
however described or designated by the distributing company.
(M) Characterization of "Income"; "Accrued Income": Income accrued on any property
received by the Trustees, either at the inception of the Trust Estate or as an addition thereto, shall be
treated as Income and not as principal; PROVIDED, HOWEVER, that any lump-sum distribution
payable to the Trustees under any employee benefit plan or individual retirement account in which the
Settlor has an interest shall be treated as principal notwithstanding the options, elections or privileges
that may be exercised by the Trustees, the Settlor or any beneficiary of income, estate or death tax
purposes. Upon the death of any beneficiary of income, any undistributed income then held by the
Trustees for such beneficiary shall be paid to the person or persons for whose benefit the principal
producing such income is continued in Trust or to whom it is distributed under the terms hereof.
ARTICLE FIVE
ADDITIONS TO TRUST ESTATE;
RIGHT TO REVOKE, ALTER AND AMEND TRUST AGREEMENT;
LIFE INSURANCE AND EMPLOYEE DEATH BENEFITS
(A) Additions to Trust Estate: The Settlors or others may, by Last Will and Testament, inter-
vivos transfer or beneficiary designation, add to the Trust Estate, cash or such property in kind as is
acceptable to the Trustees at any time during the term of the present Trust Agreement.
(B) Settlors' Right to Revoke Agreement: The Settlors expressly reserve the right at any time
and from time to time to revoke this Agreement, in whole or in part, by written notice delivered to the
Trustees during Settlors joint lifetimes. The Surviving Settlor shall have, however, no right whatsoever,
to revoke any portion of the Trust Agreement following the death of the first Settlor to die.
(C) Settlors' Right to Amend Trust Agreement: The Settlors further reserve the right at any
time and from time to time to amend this Agreement at any time during their joint lives by a proper
instrument in writing, executed by the Settlors and delivered to the Trustees during Settlors' lifetimes
13
and accepted by the Trustees. The Surviving Settlor shall have, however, no right whatsoever, to amend
any portion of the Trust Agreement following the death of the first Settlor to die.
(D) Life Insurance: If Settlors designate the Trustees as beneficiary of the proceeds of any
policies of insurance on their lives, the duty and responsibility for the payment of premiums and other
charges on such policies during the Settlors' lifetimes shall rest solely upon Settlors. The only duty of
the Trustees shall be the safekeeping of such policies as are deposited with it, and the Trustees shall be
under no duty to notify the Settlors that any such premium or other charge is due and payable.
All options, rights, privileges and benefits exercisable by or accruing to the Settlors during their
lifetimes by the terms of the policies shall be for the Settlors' sole benefit. The Settlors agree, however,
not to exercise any options whereby the proceeds would be payable to the Trustees other than in one
sum. Upon the written request of the Settlors, the Trustees shall execute and deliver such consents and
instruments as may be requisite to enable the Settlors to exercise or avail themselves of any option right,
privilege or benefit granted by any of the policies. Upon the Settlor's/Settlors' death(s), or at such later
time as may be specified in the policies, the net proceeds of any policies then payable to the Trustees
hereunder shall be collected by the Trustees; the receipt of the Trustees for such proceeds shall release
the insurance companies from liability on the policies, and the insurance companies shall be under no
duty to see to the application of such proceeds. The Trustees may take all steps necessary in their
opinion to enforce payment of said policies and shall be entitled to indemnify themselves out of any
property held hereunder against all expenses incurred in taking such action.
(E) Employee Death Benefits: The Settlors may designate the Trustees as beneficiary of
certain employee death benefits. In such case the Trustees shall collect the proceeds receivable
therefrom upon the Settlor's/Settlors' death(s) and hold them as part of the Trust Estate. The receipt of
the Trustees for such proceeds shall be a full acquittance to the administrator of such benefit, and said
administrators shall not be liable to see to the application of such proceeds. To the extent that such
proceeds are not included in the Settlor's estate for federal estate tax purposes, they shall not be used
for the payment of death taxes or any administration expenses of Settlor's estate. The Trustees may
select any option available to it as to the time and method of payment of such proceeds and may also
exercise any option with respect to the income or death taxes thereon as they in their sole discretion
deem advisable, and their decision in these matters shall be binding upon, and shall not be subject to
question by, the beneficiaries.
ARTICLE SIX
MISCELLANEOUS PROVISIONS
(A) IncontestabiJity:
The beneficial provisions of this instrument and of Settlors Last Will and Testament are
intended to be in lieu of any other rights, claims, or interests of whatsoever nature, whether statutory
or otherwise, except bona fide pre-death debts, which any beneficiary hereunder may have against or
14
in Settlors' estate of the properties in Trust hereunder. Accordingly, if any beneficiary hereunder asserts
any claim (except a legally enforceable debt), statutory election, or other right or interest against or in
Settlors' estate, Settlors' Will, or any properties of said Will, or directly or indirectly contests, disputes,
or calls into question, before any court, the validity of this instrument or of said Will, then;
(a) Such beneficiary shall thereby absolutely forfeit any and all beneficial interests of
whatsoever kind and nature which such beneficiary might otherwise have under this
instrument and the interests of the other beneficiaries hereunder shall thereupon be
appropriately and proportionally increased and/or advanced.
(b) All of the provisions of this instrument, to the extent that they confer any benefits,
powers, or rights whatsoever upon such claiming, electing or contesting beneficiary,
shall thereupon become absolutely void and revoked, and (c) Such claiming, electing,
or contesting beneficiary, if then acting as a Trustee hereunder, shall automatically cease
to be a Trustee and shall thereafter be ineligible either to select, remove, or become a
Trustee hereunder. The foregoing shall not be construed, however, to limit the
appearance of any beneficiary as a witness in any proceeding involving this instrument
or said Will nor limit any beneficiary's appearance in any capacity in any proceeding
solely for the construction of either of said documents.
(B) Payment of Debts. Taxes and Other Charges upon Settlor's Death: Upon each Settlor's
death, the Trustees may pay to or upon the order of Settlor's personal representative funds needed to pay
Settlor's debts, fimeral and burial expenses, costs of administration, death taxes and specific bequests,
if any, under the Settlor's Last Will and Testament. The Trustees may rely upon Settlor's personal
representative as to the amount of such charges. The decision of the Trustees about whether to provide
funds shall be final, except that the Trustees shall use any U.S. Treasury securities that may be
redeemed at par to pay federal estate taxes for that purpose. Assets that are not included in Settlor's
gross estate for federal estate tax purposes shall not be used for such payments. The Trustees shall pay
the charges before the division of the Trust Estate under Article One, Paragraph I hereof, and the
payments shall not be charged against the residual distribution or the share of any beneficiary hereunder.
(C) Disclaimer: Any beneficiary hereunder, or the legal representative of any such beneficiary
shall have the right, within the time prescribed by law, to disclaim any benefit or power under this Trust
Agreement. All or any fractional part of the residual distribution made upon the first Settlor's Death
disclaimed by or on behalf of the surviving Settlor shall be added to the Residuary Trust. The surviving
Settlor shall have the same interest in such added property as the surviving Settlor has in the other
property in the Residuary Trust (unless the surviving Settlor also disclaims his or her interest in the
Residuary Trust), except that the surviving Settlor shall have no discretionary power as Trustee or
otherwise to direct enjoyment of the disclaimed property for the benefit of any person other than the
surviving Settlor in a transfer that is not subject to federal gift or estate tax.
(D) Word Meanings: The words "herein", "hereinbefore", "hereinafter" and "hereunder" refer
15
to this Agreement as a whole and not merely to a subdivision in which such words appear, unless the
context requires otherwise. The singular shall include the plural, the plural the singular, and the use of
any gender shall be applicable to all genders. The terms "child" "children" and "issue" and similar tenns
shall include adopted children, regardless of the date of adoption, with full effect as if they were the
natural children of the adopting parents. The term "minor" shall mean any person under the age of
twenty-one (21) years, regardless of the age of the majority provided by statute.
(E) Paragraph or Article Headings: Headings contained in this Trust Agreement are inserted
only as a matter of convenience and for reference, and shall not be construed in any way to defme, limit,
extend or describe the scope of any of the provisions hereof.
(F) Governing Law: This Agreement shall be deemed to have been delivered to and
accepted by the Trustees in the State of Pennsylvania, regardless of the jurisdiction in which actual
execution may have occurred, and shall be interpreted and governed in all respects by the laws of said
State which shall be applied to any dispute arising hereunder.
(G) Enforceability: The invalidity or enforceability of any particular provisions of this
Agreement shall not affect the other provisions hereof and this Agreement shall be construed in all
respects as if such invalid or unenforceable provision was omitted.
(H) Change of Agreement: Except as otherwise specifically provided herein, no change,
modification, amendment of, or waiver under, this Agreement shall be valid unless the same be in
writing and signed by all of the parties hereto.
(I) Notices: Any notice, request, direction, instruction or other communication permitted
or requested to be made hereunder by any party to the other shall be in writing including telex, telegram
or telecopier ["fax"], signed by the party giving such notice and shall be delivered personally, sent by
registered or certified mail, postage prepaid, or by telex, telegram or fax (in each such case followed
by written confirmation) to the other parties, to the addresses indicated below the signature of each of
the undersigned (or to such other address as any or all of said undersigned may have submitted therefor
by written notification). The date of personal delivery, the date of receipt (if mailed), when delivered
by the telegraph company or in the case of telex or fax, when received, as the case may be, shall be the
effective date of such notice. Whenever under the terms hereof the time for giving notice or performing
an act falls upon a Saturday, Sunday or holiday, such time shall be extended to the next business day.
Mr. & Mrs. James R. Benner
47 Lee Ann Court
Enola, P A 17025-1948
16
IN WITNESS WHEREOF, with the intentions to be legally bound hereby, the Settlor and the
Trustees have executed this Trust Agreement on the day and year first above written.
~~~~~
SETTLOR:
1',
i
R~~
, / C\.NVlOA
Jamef R. Benner
~I
u
SETTLOR:
~-^"") rn. /3 (/'f/1/t"\~
Ann M. Benner
WITNESS:
+oI~
TRUSTEE:
~~ P. r-gJ2h~
Ja s R. Benner
WITNESS:
TRUSTEE
+~~
/.
J~
{~'Y\J M (r)Lyv./LVU
Ann M. Benner
17
IN WITNESS WHEREOF, with the intentions to be legally bound hereby, the Settlor and the
Trustees have executed this Trust Agreement on the day and year first above written.
WITNESS:
SETTLOR:
James R. Benner
WITNESS:
SETTLOR:
Ann M. Benner
WITNESS:
TRUSTEE:
James R. Benner
WITNESS:
TRUSTEE
Ann M. Benner
17
.
COMMONWEALTH OF PENNSYLVANIA
SS
COUNTY OF YORK
+h
On this, the 30- day of /Jor ii, 2003, before me, a Notary Public, personally appeared James
R. Benner and Ann M. Benrier, husband and wife, known to me or satisfactorily proven to be the
persons whose names are subscribed to the within instrument as the Settlors and as the Trustees and
acknowledged that they executed the same for the purposes therein contained.
IN WITNESS WHEREOF I hereunto set my hand and official seal this 30th day of April,
2003.
N~~an~
My Commission Expires:
Notarial Seal .
S. Dawn Gladfelter, Notary Public
Dillsburg BolO. York County
My Commission Expires May 17, 2005
Member ,Pennsylvania AsSOOabon Of NOtaries
18
TRUST FUNDING DIRECTIVE
TO:
SUCCESSOR TRUSTEES
FROM:
JAMES R. BENNER and ANN M. BENNER
SUBJECT:
SPECIAL INSTRUCTIONS TO SUCCESSOR TRUSTEE UPON THE DEATH OF
THE SETTLORS:
We desire and request that the Successor Trustee(s) distribute the following assets to the following named
persons upon our death. We further request that the Successor Trustee(s) also follow any other desires that we may,
from time to time, write below. We fully understand that this request is NOT enforceable but it is our express hope
that the Successor Trustee(s) will follow the below-stated distribution.
ASSET
BENEFICIARY
1.
2.
3.
4.
5.
6.
7.
SIGNED:
JAMES R. BENNER, SETTLOR
ANN M. BENNER, SETTLOR
(Additional Sheets may be attached and numbered sequentially)
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!arm HUO.1 (31861 lei H,ndbook "305 2
P'evious edi~onl.,t otlIoIete
A. Settlement Statement
u.s. Department of Housing and Urban Development
B. Tvoe of loan OMS Annrov81 No. 2502.026S eltnires 11/30/2009\
1 DFHA 2. DFmHA 3 DCon,. Unin,. T 6. File Number I 7 Loan Number \ 8. Mortgage Insurance Case Number
4. nVA 5. nCo", In,. 07-467
C.Note: ~:';~~~~1'!oJ: _ OUltlcM IMcloaing; ~ a,.1hown "~~n~IIorIIlUfPCIM1'nd'" no! tnC~t-.: 11I110.:.1 I TilleExpress Selllemenl Sy,tem
=~~I~~':..~~~t:~':~::~IS:"~~=::"~nd.=~'l~~rl'ltiHupon P1inled 0713112007 al 15:36 KR
D NAME OF BORROWER: RAYMOND F. HOWER Ind JOANN HOWER
ADDRESS: 4122 Bell Circle Northlmoton PA 18067
E. NAME OF SELLER: EST ATE OF ANN M. BENNER
ADDRESS:
F. NAME OF LENDER
ADDRESS:
G. PROPERTY ADDRESS: 47 LEE ANN COURT, EAST PENNSBORO TOWNSHP. ENOLA. PA 17025
EIst Pennsboro townshlo
H. SETTLEMENT AGENT. HomeSale Settlement Services, Inc., 717.671.9876 FAX 717-671.9676
PLACE OF SETTLEMENT: COLDWELL BANKER HOMESALE 3435 MARKET STREET CAMP HILL PA 17011
I. SmLEMENT DATE: 0713112007
J. SUMMARy R'S TRANSACTION: K. SUMMARY OF SEL N!:AC ION:
100. GROSS AMOUNT DUE FROM BORROWER 400. GROSS AMOUNT DUE TO SELLER
'01 Coolract ,ales rxial 183000.00 401 Conlract ,ales Nice '83000.00
102 Personal P"""'" 402 Personai PronM'
1OJ. Settlemenl ";;;,.,, 10 borrower lline 1400\ 4189.51 403
'04. 404
105 405
Adiuslments tor items "'aid bu seller in advance Adio 's1ments for itttms "'aid bu se"er in advance
107 Counl' laxes 07/31/071012/31/07 228.88 407 Counl' laxes 07/31107 to 12131/07 228.88
108. School Taxes 07/311071006130/08 1 755.89 408. School Taxes 071311071008130108 1 755.89
109. SewerlTrash 07/31/071009130/07 78.13 409 SewerlTrash 07/311071009/30107 78.13
110 A,soc dues 071311071007/31/07 1.31 410. Assoc. dues 071311071007/31/07 1.31
111 411.
112 412
120. GROSS AMOUNT DUE FROM BORROWER '89 253.72 420. GROSS AMOUNT DUE TO SELLER '85064.21
200. AMOUNTS PAID BY OR ON BEHALF OF BORROWER 500. REDUCTIO~IS IN AMOUNT DUE TO SELLER
201. f1onnoil or earn'" mone' 6000.00 S01 Ex"'" no"""il ,M InSlruc1ion'\
202. Ponco"'" amount of new loan, S02. Settlemenl ch~' 10 seller {hne 1400 13699.45
203. Exl,linn"""", taken su""'" 10 S03. Exl,llno loan' laken su""'" to
204. 504 Pavoff of First MorIOaoe Loan
205 505
206. 506.
207. Costs b' Seller , 000.00 S07. Co,t, b' Seller 1 000.00
208 508.
209 509
Adlustments for Items unDlid bv seller Adjustments for Items unoald bv seller
2'3 513
214 514.
2'5 515
216 516
217 517
218 518
219 519
220. TOTAL PAID BY/FOR BORROWER 7 000.00 520. TOTAL REDUCTION AMOUNT DUE SELLER 14 699.45
300. CASH AT SETTLEMENT FROM OR TO BORROWER 600. CASH AT SETTLEMENT TO OR FROM SELLER
301 Gross amount due from bo<rower line 120 189253.72 601 Gros, amounl due to seller line 420 185 064.21
302 Less amounts Mid hvnor borrower line 220\ 7000.00 602. Less redUOlion amounl due seller line 520\ 14 699.45
303. CASH FROM BORROWER 182 253.72 603. CASH TO SELLER 170 364.76
SUBSTITUTE FORM 1019 selLER STATEMENT: The inlorm.llOfl contained "'tr.m 11 lmpcw1tnl 1'1 lnlo""ation atIClll btinQ lumlJ"-S to 1M Internal Rewnue Service. 11 you 1ft rtclUlrld 10 Iile. ,alum.
:....~~:::. ':::"Pr=~II=~~it ittl'l'lil ,equired to be ~"td tnd 1", IRS ~a ttI.l111\l1 nol bttn ,tPQf1td. ThtConlr.ct SIIt1 Pfa dt:Wlbedon
=1==J~~~~=~~~J"==ol~~~~~.SalIare.chano'oIPr"ClpaIRetlcltnct1,loranygtifl.withYOUlncolMt"ftlufn~ro.olhtt'rln1lChonl.
~o:,=~~Ill.:=.'::=r-~(~~:::Undt'panalIieIOI~~r~l::=~~:':":''::iI~~~cc:~::r~nu=iCltQn
TIN.
SELLER!SI SIGNATUREtS). ___
SELLER(S) NEW MAILING "DOAESS.
-
101m HUO' 1 (:!.'86) rill Handtloo_ '30~2
"
PTr.Ioou.ldlt~...obIGl."
U.S. DEPARTMENT DF HOUSING AND URBAN DEVELOPMENT
FiI. Number: 07-467
PAGE 2
SETTLEMENT STATEMENT T1tieEx""'.. Settlemenl S .tem PMnled 0713112007 '115:36 KR
L. SETTLEMENT CHARGES PAID FROM PAID FROM
700. TOTAL SALESI8ROKER'S COMMISSION b..ed on orlC~ .183 000.00 = 10 085.00 BORROWER'S SELLER'S
Division of commission line 700 as f....lows: FUNDS AT FUNDS AT
701. t 4 600.00 10 R..Mo. Rllltv ASlocloteo SETTLEMENT SETTLEMENT
702 5 5465.00 10 CB Homesole Services Groun 1nc..
703. Comm~.ion naid .. Seniemenl 915.00 9 150.00
800. ITEMS PAYABLE IN CONNECTION WITH LOAN
801. Loan Olioln.lion Fee '10
802. loan Discounl 'k
803. A~.,.a1 Fee
804. Credit R.oM
805. lender'.lns""""on F..
806. MorIn""" Annllcalinn Fee
807. Tax SelVice Fee
808. Document "'""aration
809. Flood Certificalion
810.
811.
900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE
901. InlMesl From 10 /illS Id.,
902. MonaMf!! Insurance Premium for 10
903, Hazard Insurance Premium for 10
W.
905.
1000. RESERVES DEPOSITED WITH LENDER FOR
1001. Hazard Insulll1ce mo. Imo
1002. MorlOllOO Insurance mo. lmo
1003. CI'" Pr"""'" Tues mo. lmo
1004. Counl' Pr"""'" Taxes mo. ~ 45.21 lmo
1005. Sch~ Taxes mo. 158.95 Imo
1009. A""""'ate An....I. A"ustmenl 0.00 0.00
1100. TITLE CHARGES
1101. Sel11emenl or cIooinn lee
1102. Abslract or htle search
1103. rme exammation
, 104. TillA insurance binder
1105 Documenl Pr.n.ralion
1106. Not",." Fees 10 Cash 5.00 10.00
1107. Attom.,'s'ees
includes above items No'
1108. Title Insurance 10 HomeS.le Settlement Serviees 1261.01
includes above ilems No: 110111021103110.1 Rate' ,
I 109. Lend.f. Pol'"
1110. Owner'sPoliclI 183000.00 .1261.01
1111.
1112.
1113.
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES
1201. R_dino Fee' Deed . 38.50 Morlo"".5 . Rei.... 5 38.50
1202. Ci"'lCoun'" lax/slamM D."" <1 830.00 Monn~e < 1 830.00
1203. 51.1. T ax/.,amn. Deed 51 830.00 . Morln""" 5 1 830.00
1204.
1205.
1300. ADDITIONAL SETTLEMENT CHARGES
1"'1 .uIV"'
1302:-p;','lns",",ion
I"" Tr-n''''''''''' I- I R..Mo. Reallv Associates 295.00
1304. Tax Rece-;;;;; 10 RE.MIX Realtv Alsoelete. 7.00
1305. Home Warranly 10 American Home Shield 385.00
1306. SewerITrasll/JAS' 10 East Pennsboro T own.hin Authorltv 115.00
1307. lnilialion lee 10 Sherwood Court HOmeowne.. Assoc. 100.00
1308. Other D1.bursements 11520\ 40.00 1907.45
1400. TOTAL SETTLEMENT CHARGES lenl.r on lin.. 103 Section J and 502 Section K\ 4189.51 13 699.45
HUO CERTIFICATION OF BUYER A.NO SELLER
..:g-;~"""'::'i-"""""-~~-"_.'-
's~~J.~-C,E;," I 1\~heCti~Cv.&lC
wARNING' IT IS A CRllr,IE TO KNOWINGLY lAAKE FALSE STATEMENTS TO THE
UNITED STATES ON THIS OR ANY SIMILAR FOR"" PENAl. TIES UPON CONVICTION
CAN INCLUDE It FINE AND IWPRISOHMENT. FOR OETAILS seE TITLE III
u.s. CODE SECTION 1001 AND SECTION 1010
n...HUO.l sell.menl Ste!\Il'ftlt"l"""""" In..... pr~red;s.ll'I,...nd 1lCQI...~o'ltl;.I'."'aelio...
.y~~~" ~'_"M'"NA"~~7jjr;:::;..~'-
. '
. .
rQl'm HUD' 13186\ rei HlncIboo~ 4305 2
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
SETTLEMENT STATEMENT
Fl~ Numbe" 07-467
PAGE 3
TII~ExD<ess Seltlemenl Svslem nnled 07131/ 7 al 15:36 KR
ITEMIZATION OF HUD LINE 1308
1500. SCHEDULE OF DISBURSEMENTS BUYER SELLER
1501. ASSOC. dues 10 Sherwood Court Homeowne" Assoc. 40.00
1502. 2007.08 School Tax 10 Debbie LUDOld Treasurer 1 907.45
1'\03.
1504.
1505.
1506.
1507.
1508.
1509
1510.
1511
1512.
1513.
1514.
1515.
1516.
1517.
1518.
1519.
1520. TOTAL HUD LINE 1308 EXPENSE: 40.00 1 907.45
200