HomeMy WebLinkAbout09-13-07 (3)
REV-l500 EX + (6-00)
COMMONWEALTH OF
PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG. PA 17128-0601
REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
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OFFICiAl 'SE ONLY
FILE NUMBER
2 1 -0 7 0 0 8 1 5
COuNTYCciiiE ---VEAR- - - NUMaER- -
DECEDENrs NAME (LAST, FIRST, AND MIDDLE INITIAL)
GUTSHALL
DATE OF DEATH (MM-DO-Year)
CYRIL
D.
DATE OF BIRTH (MM-DO-Year)
SOCIAL SECURITY NUMBER
1 9 1 - 1 8 - 4 5 7 6
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
SOCIAL SECURITY NUMBER
D 3, Remainder Retum (date of death plior lll12-1 3-82)
D 5. Federal Estate Tax Retum Required
_ 8. Total Number of Safe Deposit Boxes
D 11. Election to tax under Sec. 9113(A) (Attach Sch 0)
:'''SI5tt1DNiMUs't'BECOMPL.l5l'Eo:m.lW'eDRRESPDNDENCE.ANbeONF1DENTJAL'I'AIINFotUUl1oNSHool2bBEb'REC'rEbi'rO: .,
NAME COMPLETE MAILING ADDRESS
ROGER B. IRWIN ESQUIRE 60 WEST POMFRET STREET
FIRM NAME (If Applicable)
IRWIN & McKNIGHT
TELEPHONE NUMBER
717 249-2353 CARLISLE PA 17013
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07/27/2007 03/20/1923
(IF APPUCABlEj SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
00 1. Original Return
D 4. Limited Estate
lXJ 6. Decedent Died Testate (Attach copy of WiD)
D 9. Litigation Proceeds Received
D 2. Supplemental Retum
D 4a, Future Interest Compromise (date of death after 12-12-82)
D 7. Decedent Maintained a Living Trust (Attach copy of Trust)
D 10. Spousal Poverty Credit (date of death between 12-31-91 and 1-1-95)
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1. Real Estate (Schedule A)
2. Stocks and Bonds (Schedule B)
3. Closely Held Corporation, Partnership or Sole-Proprietorship
4. Mortgages & Notes Receivable (Schedule D)
5. Cash, Bank Deposils & Miscellaneous Personal Property
(Schedule E)
6. Jointly Owned Property (Schedule F)
D Separate BilUng Requested
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G or L)
8. Total Gross Assets (total Lines 1-7)
9. Funeral Expenses & Administrative Costs (Schedule H)
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I)
11. Total Deductions (total Lines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Govemmental Bequests/See 9113 Trusts for which an election to tax has not been
made (Schedule J)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(9)
(10)
14. Net Value Subject to Tax (Line 12 minus Line 13)
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
15. Amount of Line 14 taxable at the spousal tax
rate. or transfers under Sec. 9116 (a)(1.2)
0.00 X _(15)
0.00 X _(16)
0.00 X .12 (17)
192,207.87 X .15 (18)
(19)
16. Amount of Line 14laxable at lineal rate
17. Amount of Line 14 taxable at sibling rate
18. Amount of Line 14 taxable at collateral rate
19. Tax Due
20. D
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
110,000.~O
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(8)
19,553.77
6,823.82
(11)
(12)
(13)
(14)
RETOANSWER A[l[QtJESnONS(}NREVERSE"SIDE AND RECHECK MATH'<:.<: r"....
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218,585.46
26,377.59
192,207.87
192,207.87
0.00
0.00
0.00
28,831.18
28,831.18
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ece en s ompee ress:
STREET ADDRESS
199 PARK HEIGHTS AVENUE
CITY I STATE T ZIP
SHIPPENSBURG PA 17257
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
28,831.18
1.441.56
Total Credits (A + B + C)
(2)
1,441.56
3. Interest/Penalty if applicable
D. Interest
E. Penalty
Total Interest/Penalty (D + E) (3)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund (4)
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5)
A. Enter the interest on the tax due. (5A)
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5B)
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 d
c. retain a reversionary interest; or ...................................................................................................... 0 00 ./f""1"\\J o\.~V'J}1
d. receive the promise for life of either payments, benefits or care? ............................................................. 0 00.,)-1>' iJr
2. :i~~:~~ ~:~;~: ::~~:::~d:~~t~:~:.,.~i.~.~~~~~~~.~~~~~~~~~~~~~~.~~t.~~~.~~.~.~~~:.~~.~~~~~...................... 0 00 ~ r() d0
3. Did decedent own an 'in trust for' or payable upon death bank account or security at his or her death? ................. 0 00 ~ k
4. :~=~::':::::"'";':~:.'.~~t~:~i~..~:~'~~.:~:~~.~~.~i~............ 0 00 ~
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
0.00
0.00
27,389.62
27,389.62
Under penalties of perjury. 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 infomtation of which preparer has any knowledge.
SIGNATURE OF PERSON RESPONSIBLE FOR ILlNG RETURN DATE
q ~Jd- OlOD
ADDRESS
PA 17013
DATE
,/l-c d?
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 3%
[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 0% [72 P.S. ~9116 (a) (1,1) (ii)).
The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax retum 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-<>ne years of age or younger at death to or for the use of a natural parent, an adoptive parent,
or a steQ,Darent of the child is 0% [72 P.S. ~9116(a)(1.2)).
The tax rate imposed on the net value of transfers to orfor the use of the decedent's lineal beneficiaries is 4.5%, except as noted;n 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 12% [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-1502 EX + (6-98)
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, COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
GUTSHALL CYRIL D. 21 07 00815
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell. both having reasonable knowledge of the relevant facts.
Real DrODertv which is iointlv-owned with riaht of survivorshiD must be disclosed on Schedule F.
SCHEDULE A
REAL ESTATE
ITEM
NUMBER
1.
DESCRIPTION
199 PARK HEIGHTS AVENUE, SHIPPENSBURG, PA
APPRAISAL ATTACHED
VALUE AT DATE
OF DEATH
110,000.00
TOTAL (Also enter on line 1. Recapitulation) $
(If more space is needed. insert additional sheets of the same size)
110000.00
REV-15G8 EX + (6-98)
.
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
. COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
GUTSHALL CYRIL
FILE NUMBER
D 21 07
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.
00815
ITEM
NUMBER
1.
DESCRIPTION
M&T BANK - CHECKING ACCOUNT #67345468
VALUE AT DATE
OF DEATH
22,571.38
2.
M&T BANK - SAVINGS ACCOUNT #015004206012889
65,280.44
3.
M&T BANK - CERTIFICATE OF DEPOSIT #031003915941023
10,245.31
4.
M&T BANK - CERTIFICATE OF DEPOSIT #031003915941627
10,165.33
5.
PERSONAL PROPERTY - APPRAISAL ATTACHED
323.00
TOTAL (Also enter on line 5, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
108 585.46
REV-1511 EX + (12-99)
.
. COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
FILE NUMBER
GUTSHALL
CYRIL
D.
21
07
00815
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. FOGELSANGER-BRICKER FUNERAL HOME 275.00
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative (5)
Social Security Numbe~s)IEIN Number of Personal Representative(s)
Street Address
City State Zip
Yea~s) Commission Paid:
2. Attorney Fees IRWIN & McKNIGHT 10,300.00
3. Family Exemption: (If decedenfs address is not the same as claimanfs. attach explanation)
Claimant
Street Add ress
City State Zip
Relationship of Claimant to Decedent
4. Probate Fees REGISTER OF WILLS 294.00
5. Accountanfs Fees
6. Tax Retum Prepare~s Fees PATRICIA A. ROSENDALE, CPA 350.00
7. REGISTER OF WILLS - FILING FEE 30.00
8. NOTARY FEES 15.00
9. S.W. BARRETT REAL ESTATE - APPRAISAL ON REAL ESTATE 325.00
10. ROY D. GUTSHALL - APPRAISAL ON PERSONAL PROPERTY 45.00
11. CUMBERLAND LAW JOURNAL - ESTATE NOTICE 75.00
12. THE SENTINEL - ESTATE NOTICE 144.77
13. 6% REAL ESTATE COMMISSION - SALE OF REAL ESTATE 6,600.00
14. 1 % REAL TY TRANSFER TAX - SALE OF REAL ESTATE 1,100.00
TOTAL (Also enter on line 9, Recapitulation) $ 19553.77
(If more space is needed, insert additional sheets of the same size)
REV-1512 EX + (6-98)
'*
SCHEDULE.
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES & LIENS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
GUTSHALL CYRIL
D.
FILE NUMBER
21 07
00815
Include unreimbursed medical expenses.
ITEM
NUMBER DESCRIPTION
1. PARK HEIGHTS ASSOCIATION - CONDO ASSOCIATION FEES
VALUE AT DATE
OF DEATH
295.50
2. M&T BANK - REIMBURSEMENT OF CIVIL SERVICE BENEFIT
1,736.85
3. MANOR CARE - NURSING
3,200.00
4. PENELEC - ELECTRIC
93.50
5. DEBBIE HECKMAN, TAX COLLECTOR - REAL ESTATE TAXES
1,497.97
TOTAL (Also enter on line 10, Recapitulation) $
(If more space is needed. insert additional sheets of the same size)
6823.82
"'-""'~'l.
. COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
GUT<::I-I.1l I
NUMBER
I.
SCHEDULE J
BENEFICIARIES
CYRil
n
FILE NUMBER
?1 n7
RELATIONSHIP TO DECEDENT
Do Not List Trustee(s)
Collateral
00815
AMOUNT OR SHARE
OF ESTATE
REMAINDER
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.
NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
MONICA KAY GUTSHALL
2262 NEWVILLE ROAD
CARLISLE PA 17013
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
(If more space is needed, insert additional sheets of the same size)
LAST WILL fu~D TESTAMENT
I, Cyril D. Gutshall, of 199 Park Heights Avenue, Southampton Township,
Franklin County, Shippensburg, Pennsylvania, declare this to be my Last Will
and Testament and revoke any will or codicil previously made by me.
ITEM I: I direct that all my just debts and funeral expenses, including
my gravemarker and all expenses of my last illness, shall be paid from my
residuary estate as soon as practicable after my decease as a part of the
administration of my estate.
ITEM II: I give, devise and bequeath all of my estate of every nature
and wheresoever situate to my brother, Robert E. Gutshall, providing he shall
~
survive me by thirty days. ,~tttn~
ITEM III: Should my brother, Robert E. Gutshall, predecease me or die
on or before the thirtieth day following my death, I give, devise and bequeath
all of my estate of every nature and wheresoever situate to Monica Kay Gutshall
ITEM IV: I direct that all taxes that may be assessed in consequence
of my death, of whatever nature and by whatever jurisdiction imposed, shall
be paid from my residuary estate as part of the expenses of the administration
of my estate.
ITEM V: I appoint Robert E. Gutshall executor of this my Last Will
and Testament. Should he fail to qualify or cease to act as executor, I
appoint Monica Kay Gutshall executrix of this my Last Will and Testament.
ITEM VI: I direct that my executor or guardian or their successors
shall not be required to give bond for the faithful performance of their duties
in any jurisdiction.
IN WITNESS WHEREOF, I hereunto set my hand and seal to this my Last Will
and Testament, written on one (1) sheet of paper, dated this / ;1
day of
M 8 r c- /1
, 1986.
cffn-<-'f cfJ s!/~..D(SEAL
Cyrl1 D. Gutshall
The preceding instrument, consisting of this and one other typewritten
page, each identified by the signature of the testator, Cyril D. Gutshall, was
on the day and date thereof signed, published and declared by Cyril D. Gutshall
the testator herein named, as and for his Last Will, in the presence of us, who
at his request, in his presence, and in the presence of each other, have
subscribed our names as witnesses hereto.
ML-~~ X
residing at ~.'-<~ !.1:
residing at /Ve WVl tJ-e r ,(J
l
NWEALTH OF PENNSYLVAi''UA:
SS
COUNTY OF FRANKLIN
L Wf; Cyril D. Gutshall, <;(/{y cl. W,~d..... and
~h)t 1'tfc.Lr'ei1l. JI[:, the testator and Ithe witnesses, respectively, whose names
are signed to the attached or foregoing instrument, being first duly sworn, do
hereby declare to the undersigned authority that the testator signed and
executed the instrument as his Last Will and Testament and that he signed
willingly (or willingly directed another person to sign for him), and that he
executed it as his free and voluntary act for the purposes therein expressed,
and that each of the witnesses, in the presence and hearing of the testator,
signed the will as witnesses and that to the best of our knowledge, the testato
was at that time eighteen years or older, of sound mind and under no constraint
or undue influence.
Subscribed, sworn to and acknowledged, by
Cyril D. Gutshall, the testator ;nd sworn
to before me bi' Sti.ll~. J: W;ne:l-eV'
and J"h,,,,,, M(.{~'r~',:!J1": ' witnesses, this
j~ Ok ~ ,1986.
Notary Public
My commission expires:
~~ ~6wA-::a:-
-2-
S. W. Barrett Real Estate & Appraisal Services
Fie No. 07-0332
APPRAISAL OF
LOCATED AT:
199 Park Heights Avenue
Shippensburg, PA 17257-8987
FOR:
Irwin & McKnight
60 West Pomfret Street
Carlisle, PA 17013
BORROWER:
Cyril D. GUTSHALL (Estate)
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AS OF:
August 17, 2007
BY:
Stan A. Skowronek
Certified Residential Appraiser
...._._~--~--_._---------_._~_._- -,.._~---_._.... --------------.-~~---......---- ----------------.~-____.___ - __________.__u____.,.____.._____
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S. W. Barrett Real Estate & Appraisal Services
File No. 07-0332
08/20/2007
Irwin & McKnight
60 West Pomfret Street
Carlisle, PA 17013
File Number: 07-0332
I n accordance with your request, I have appraised the real property at:
199 Park Heights Avenue
Shippensburg, PA 17257-8987
The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved.
The property rights appraised are the fee simple interest in the site and improvements.
In my opinion, the market value of the property as of August 17, 2007
is:
$110,000
One Hundred Ten Thousand Dollars
The attached report contains the description, analysis and supportive data for the conclusions,
final opinion of value, descriptive photographs, limiting conditions and appropriate certifications.
Respectfully submitted,
~:.~~=~~ ct --:~~~f(~~
Stan A. Skowronek
Certified Residential Appraiser
ProDertv DescriDtion File No. 07-0332
Prooertv Address 199 Park Heiahts Avenue City Shiooensburg State PA Zip Code 17257-8987
Leaa1 Description Deed Book 950. paae 428 County Franklin
Assessor's Parcel No. 21-0N11.-133.-0009 Tax Year 06107 R.E. Taxes $ 1 388.00 Special Assessments $ N/A
Borrower Cvril D. GUTSHALL tEstate' Current Owner Cyril D. Gutshall Occupant: l J Owner I I Tenant fx l Vacant
II Prooertv riohts aooraised fx l Fee Simple l Leasehold I Proiect Type I PUD I I Condominium (HUDNA only) HOA$ 98.50 /Mo.
Neiohborhood or Proiect Name Southamoton Townshio Map Reference ON11-133-0009 Census Tract 0103.00
Sale Price $ N/A Date of Sale N/A Description and $ amount of loan charaes/concessions to be paid by seller NI A
Lender/Client Irwin & McKniaht Address 60 West Pomfret Street Carlisle PA 17013
Annraiser Stan A. Skowronek Address 124-126 North Hanover St Carlisle Pa.17013
Location DUrban l!J Suburban U Rural Predominant Single family housing Present land use "10 land use change
Built up DOver 75% 00 25-75% 0 Under 25% occupancy PRICE AGE One family 52% 00 Not likely o Likely
$ (000) (yrs)
Growth rate o Rapid 00 Stable o Slow 00 Owner 95 100 Low New 2-4 family 3% o In process
Property values 0 Increasing 00 Stable o Declining o Tenant 250 Hiah 60 Multi-family 0% To:
Demand/supply R Shortage ~ In balance o Over supply ~ Vacant(0-5%) Predominant' Commercial 25%
Marketino time Under 3 mos. X 3-6 mos. n Oyer 6 mos. Vacant (over 5%\ 180 35 Fairgrd ) 20%
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics: The subiect is bounded on the north bv Route 11 on the east bv Forae Rd. on the south
. by Walnut Bottom Rd and on the west bv Richwalter St.
.
. Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market. etc.):
. There are no adverse factors to affect marketabilitv of subiect. Diverse stable employment and all supportina amenities are
.
II within easy drivina distance. SMSA 3240
Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time
- - such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Property sales records and MLS statistics show a steady. moderate increase in property values over the oast vear. Averaae
marketina time of 60-90 days shows a aood balance of supply and demand. Few sales and financing concessions are needed
in the neiahborhood.
. Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? U YES 00 NO
. Approximate total number of units in the subject project 16 Approximate total number of units for sale in the subject project 0
Describe common elements and recreational facilities: Lawn care/snow removal/trash and sewer.
Dimensions N/A Condominium Topography Basically Level
Site area N/A Corner Lot U Yes U No Size N/A
Specific zoning classification and description Residential Shape N/A
Zoning compliance 00 Legal 0 Legal nonconforming (Grandfathered use) U Illegal U No zoning Drainage Apoears Adeauate
Hiahest & best use as imoroved: n Present use n Other use (explain) View Residential
Utilities Public Other Off-site Improvements Type Public Private Landscaping Averaae
Electricity 00 200 Amo Street Macadam 00 0 Driveway Surface Macadam
Gas 0 Curb/gutter None 0 0 Apparent easements None Apparent
Water 00 Sidewalk None 0 0 FEMA Special Flood Hazard Area DYes 00 No
Sanitary sewer 00 Street lights None R R FEMA Zone C Map Date 05/15/1986
Storm sewer [Xl Alley To rear FEMA Map No. 421657 00058
Comments (apparent adyerse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): There are no
aooarent adverse easements encroachments or other adverse condition
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units 1 Foundation Cone 81k Slab None Area Sq. Ft. 0 Roof 0
No. of Stories 1 Exterior Walls Vinvl Oa~space Partial % Finished N/A Ceiling * 00
Type (Det./Att.) Attached Roof Surface CompoShgle Basement None Ceiling N/A Walls * 00
Design (Style) Condo Gutters & Dwnspts. Aluminum Sump Pump NI A Walls N/A Floor * 00
Existing/Proposed Existina Window Type Double Hung Dampness None Obs Floor N/A None 0
Age (Yrs.) 1985 Storm/Screens Thermal Settlement None Obs Outside Entry NI A Unknown 0
Effective Aae Yrs.) 10-15 Manufactured House No Infestation None Obs * R Factor Unk
. ROOMS Foyer Livina Dinino Kitchen Den Family Rm. Rec. Rm. Bedrooms # Baths Laundry Other Area So.Ft.
. Basement
.
Level 1 1 1 2 1.5 area 960
. Level 2
.
. Finished area above arade contains: 4 Rooms; 2 Bedroom s); 1.5 Bath(s); 960 Souare Feet of Gross Livino Area
. INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Floors CrDtlVinvl Type HP Refrigerator 00 None 0 Fireplace(s)# _ 0 None 0
. Walls Drvwall Fuel Elect Range/Oven 00 Stairs 0 Patio 0 Garage 1 # of cars
Trim/Finish Wood ConditionAva Disposal 0 Drop Stair 0 Deck 0 Attached 1
Bath Floor Vinvl COOLING Dishwasher 0 Scuttle 00 Porch Covered 00 Detached
Bath Wainscot Drvwall Central Yes Fan/Hood 0 Floor 0 Fence 0 Built-In
Doors Hollow Core Other None Microwave R Heated R Pool R Carport
Averaae Condition ConditionN/A WasherlDryer Finished Drivewav 1/Mac
Additional features (special energy efficient items, etc.): Covered porch.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction remodeling/additions, etc.: Improve
ments are in averaae condition with no ohvsical or functional inadequacies noted.
.
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the
immediate vicinity of the subject property: No adverse environmental conditions are apparent/disclosed.
SUMMARY APPRAISAL REPORT
UNIFORM RESIDENTIAL APPRAISAL REPORT
Freddie Mac FOfm 70 6-93
PAGE 1 OF 2
Produced using ACI software, 800234.8727 www.aciweb.com
Fannie Mae FWTl 1004 6.93
ValuatIon 5e'ctlon
SUMMARY APPRAISAL REPORT
UNIFORM RESIDENTIAL APPRAISAL REPORT
File No 07 -0332
ESTIMATED SITE VALUE. . . . . . . . . . . . . . . . . . . . . . . . . . . = $ N/A Comments on Cost Approach (such as, source of cost estimate,
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: site value, square foot calculation and for HUD, VA and FmHA, the
,
Dwelling Sq. FI. @ $ = $ 0 estimated remaining economic life of the property):
Sq. FI. @$ = 0 Cost Aooroach deemed a poor indicator of value due to
. aae of the improvements. Estimated Remainina
. =
. Garage/Carport _Sq.FI. @$ 0 Economic Life - 45-50 years
. =
. = $ 0
. Total Estimated Cost Nej . . . . . . . r . . . . . . . .
Less Physical Functional External Est. Remaining Econ. Life: 40
. Depredation = $ 0
Depreciated Value of Improvements . . . . . . . . . . . . . . . . . . . = $ 0
"As-is" Value of Site Improvements. . . . . . . . . . . . . . . . . . . = $
INDICATED VALUE BY COST APPROACH. . . . . . . . . . . = $ 0
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
199 Park Heights Avenue 203 Park Heights Avenue 6 Wiltshire 625 Mill Race Road
Address Shiooensbura Shiooensburq Carlisle Carlisle
Proximilv to Subiect iF!'i';'/;' "......;,;;,;i'!!;;!;ri"'.. 0.00 MI SE 21.1 MI ENE 21.2 MI ENE
Sales Price $ N/A ;/';i . is' H' $ 109 000 ',2 ;i" .; 'fe.;;: $ 115000 h;i;! ..,' ,.' $ 109 000
Price/Gross Liv. Area $ 0.00 [I $ 113.54 [I i;'.iF"'.,:$,/;/; $ 97.54 [I .i'.;"i,'" ..... $ 87.90 [I
Data and/or Inspection Courthouse AppData/MLS MLS
Verification Sources Courthouse Courthse Rec Courthouse
VALUEADJUSTMEtlITS DESCRIPTION DESCRIPTION I + (.) $ Adjustment DESCRIPTION I + (.) $ Adjustment DESCRIPTION I + (.) $ Adjustment
Sales or Financing INI~_ Unknown , None,Conv $3,000 CI. Csts ,
, 0
11;;';; , 0 Cony 0
Concessions , 0 0
Date of SalelTime IN/A. 03/20/2007 0 07/31/2006 0 05/31/2007 0
, , ,
Location Suburban Suburban 0 Suburban , Suburban
0 , 0
LeasehoklIFee SimIe Fee Simole Fee Simole 0 Fee Simole , Fee Simole 0
0 , 0
Site Condominium Condominium 0 Condominium , Condominium
0 , ,
View Residential Residential 0 Residential , Residential 0
0 , 0
Desian and Appeal Condo Condo , Condo , Condo 0
, 0 ,
Cluailv of ConshJcfun Averaqe Averaqe 0 Averaqe 0 Average ,
, 0 ,
Aoe 22 Years 22 Years 0 8 Years 0 30 Years ,
0 0 ,
Averaae Averaae , Avg/Good(-5%) 0 -5 750 Averaae ,
Condition 0 0 ,
Above Grade Total : Bctms I Baths Total : Bdrms ' Baths 0 Total : Bdrms I Baths 0 Total : Bdrms I ,
, 0 Baths ,
. Room Count 20 4: 2: 1.50 4: 2: 1.50 : 4: 2: 2.00 : -1,500 5: 2: 1.50 :
Gross Livina Area 960 So.Ft. 960 So.Ft. , 0 1 179 Sa.Ft. 0 -4,380 1,240 Sa.Ft. ,
. 0 , -5 600
Basement & Rnished Crawl Space Crawl Space , Slab 0 Slab 0
. 0 0 0
, 0 0
Rooms Below Grade , 0 ,
, 0 0
. Functional Utililv 2 Bedroom 2 Bedroom , 2 Bedroom 0 2 Bedroom ,
. , 0 0
. Elect HP ClAir HP/CA 0 FHAlCA 0 0
Heatina/Coolina , , EBB/None 0 3,000
. Enerov Efficient Items Tvoical Tvoical , Tvoical , Typical 0
, 0 0
Garaoe/Caroort 1 Car Garaae 1 Car Garaae , None 0 5,000 1 Car Garaqe 0
, 0 0 5000
Porch, Patio, Deck, Porch Porch , Porches -1,500 Deck/Patio 0
, 0 0
Fireolace(s\, etc. , 0 0
, 0 0
, 0
None None , None 0 None
Fence, Pool, etc. , 0
, 0 0
, 0 0
Net Adi. (total\ *-~~~~.: 0 I 1+ Ixl. '$ 8,130 Ixl + [ I. :$ 2400
Adjusted Sales Price .arc{~~;1'r'18~;~,,'~l Gross: '12.5%
of Como arable 109,000 Net::,,;,'T;i $ 106,870 Net: 2.2% $ 111 400
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc. ): Opinion of value ranae is $107 000 to
$111.000. Most weiaht is aiven to comoarable #1 since it is in the same condominium complex as the subiect. No other
condominium sales were located within the Shiooensburq qreater area resultina in an expanded search area to Carlisle.
These are the best condominium sales comoarisons know to be available.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data 02/10/1986 02/10/1987 06/28/2004 08/30/2005
Source for prior sales $55,900 $54,500 $104,000 $94,900
within year of aooraisal Courthouse Courthouse Courthouse Courthouse
Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and oomparables within one year of the date of appraisal:
No orior transfers of the subiect within the oast 36 months and no orior transfers of the com parables within 12 months of
their sale date.
INDICATED VALUE BY SALES COMPARISON APPROACH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 110,000
INDICATED VALUE BY INCOME APPROACH !If Applicable) Estimated Market Rent $ N/A /Mo. x Gross Rent Multiplier N/A = $ N/A
This appraisal is made IX] "as is" U subject to the repars, alterations, inspections or conditions listed below U subject to completion per plans and specifications.
Conditions of Appraisal: The orooertv has been aooraised in current condition. This is for the clients use onlv.
Final Reconciliation: The Market Data Analysis supports my opinion of value for the subject. The Cost Approach was not deemed
an aoorooriate indicator of value due to the aae of the subiect and therefore was not included herein. The Income Aooroach
. was also deemed inaoorooriate for this analvsis.
.. The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certmcation, contingent
and limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/Fannie Mae Form 1004B (Revised 6/93 ).
I (WE) ESTIMATE THE MARKET VALUE. AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 08/17/2007
· (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $____ 11 0,000 '--':'-'-" .
. ~PPRAISEre~ (} ~. ~ S.UPE~6~~~PRA~Nf7REQUIRTI
Signature '" :(,UA. ^" - u,;,>(' tloJ,./) SlgnaM'lt.....J - '- ODid OODid Not
I
Name Stan A. Skowronek Name Steven W. Barrett, SRPA, SRA Inspect Property
Date Report Signed 08/20/2007 Date Report Sianed 08/20/2007
State Certification # RLOO1572L State PA State Certification # GAOO0298L State PA
Or State License # State Or State License # RB026921A State PA
Freddie Mac Form 70 6-93 Certified Residential PAGE 2 OF 2 Certified General AppraIser Fannie Mae Form 1004 6.93
Appraiser
Produced using ACI software, 800.234.8727 www.aciweb.com
S.W. Barrett Real Estate & Appraisal Services
FLOORPLAN
Borrower: Cyril D. GUTSHALL (Estate)
Property Address: 199 Park Heights Avenue
City: Shippensburg
Lender: Irwin & McKni ht
File No.: 07-0332
Case No.:
State: PA
Zip: 17257-8987
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Bedroom
Kitchen
Bedroom
Living
Sketch by Apex IV Windows ™
AREA CALCULATIONS SUMMARY
Code Description Size Totals
GLAl First Floor 960.00 960.00
pip Porch 48.00 48.00
GAR One Car Garage 190.00 190.00
LIVING AREA BREAKDOWN
Breakdown Subtotals
First Floor
24.0 x
12.0 x
28.0
24.0
672.00
288.00
TOTAL LIVABLE
(rounded)
960
2 Areas Total (rounded)
960
SUBJECT PROPERTY PHOTO ADDENDUM
BOrfowecCyrilD. GUTSHALL (Estate) File No.: 07-0332
Property Address: 199 Park Heights Avenue Case No.:
.~itLShip~l!!"~urg~___.___~~_____-__--._____.~_-_~_..._Si~~:..~~_.___~__ ZiQ:17257
Lender: Irwin & McKniaht - . - _____.___u
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date: August 17, 2007
Appraised Value: $
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: Cyril D. GUTSHALL (Estate) File No.: 07-0332
Property Address: 199 Park Heights Avenue Case No.:
City: Shippensburg State: PA Zip: 17257-8987
Lender: Irwin & McKnioht
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COMPARABLE SALE #1
203 Park Heights Avenue
Shippensburg
Sale Date: 03/20/2007
Sale Price: $ 109,000
COMPARABLE SALE #2
6 Wiltshire West
Carlisle
Sale Date: 07/31/2006
Sale Price: $ 115,000
COMPARABLE SALE #3
625 M ill Race Road
Carlisle
Sale Date: 05/31/2007
Sale Price: $ 109,000
LOCATION MAP
Borrower: Cyril O. GUTSHALL (Estate) File No.: 07-0332
Property Address: 199 Park Heights Avenue Case No.:
City: -~~l~r!~J)!!IlL__~________________~_________~_~@~~PA..____________liJ:l:JI~.5I-8~!J!_
Lender: Irwin & McKni ht
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Prep8f8d b':{ Steven VV. Barrett R.E. .A.ppr. Svc. (7'17)243-6646
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Borrower: Cyril D. GUTSHALL (Estate) File No.: 07-0332
Property Address: 199 Park Heights Avenue Case No.:
City: St!ip~n5bu!9________~____~~_______~______State:l'A_______~ipJ7~~I~987 ______
Lender: Irwin & McKni ht
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Anas odUde of the 100- aftlI60a-.,...- ~
NNls ltunCS8ltd by I QO.yt.r Iloodlng
Ntas irurldaltd by lQO.ytar Iloodlng VIIIh vtloclty hmrd
flOOfl nOlolanon
Community: 421'57 . SOUTHAMPTON. TOViNSHIP OF
/'ropeIty is: not in a FB4Aspe!Ci31 flood haz3ld 3J'eil.
"'P .bnbcr: 4216151 000159 M:Ip Oz.: 06JI15'10~6
Panel: 00058 F IPS: 4~55
Zon..:C
FloodMap Legend
FIOOO zones
Nus IIIU11da1.d by $OO-y..r Iklodlng
F1liocIwill)' .r."
Neither Trans3lTlefica Flood HaD'd Certification lTFHC) nol .ACI make anv
repreS'Nltatitons lI" warranties to any patty c<<lGerring the C9rttill. i1GOUliICY O'
~omp/et~s: of this: ftoo<lI'ePGrt. inclOOing mv U1lm1ntlf of rnerohantablb I)"
fitness for a pa1lcubr pUlJlose. Neither TFHC nor ACI nor1he sEiler 01 this
llood report sh:<lll have :<In'lt' lability to anv thro pattv for any use lI" misuse of
this: 11000 report.
~ arMS """ vtlOCi!Y heCard
M~ oh,,""'trmlntt:l 0Ul pos'" ~ lI_d$
AIt.,...."""*' 0'1 ~pubI1,,*, fw.M
File No. 07-0332
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal
consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the
sale.
· Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the
seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property
by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any
adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment should approximate the market's reaction to the financing or concessions based on the Appraiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the
following conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised
on the basis of it being under responsible ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is
included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data
sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the
appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific
arrangements to do so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their
contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous
wastes, toxic substances, etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal
research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden
or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic
substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no
guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the
appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment
of the property.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such
items that were furnished by other parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional
Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion,
repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the
appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to
any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the
mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally
approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia;
except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s)
without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before
the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
Freddie Mac Form 439 6-93
Page 1 of 2
Fannie Mae Form 1004B 6-93
File No. 07-0332
APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that:
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate
to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the
market reaction to those items of significant variation. If a significant item in a comparable property is superior to , or more favorable than,
the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a
comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted
sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my
knowledge, that all statements and information in the appraisal report are true and correct.
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject
only to the contingent and limiting conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal
interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the
estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the
prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the
subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party,
the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a
specific valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal,
with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable
time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the
marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables
in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the
subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these
adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented
about the effect of the adverse conditions on the marketability of the subject property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on
significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal
report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in
the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies
and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the
statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking
full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: 199 Park Heights Avenue, Shippensburg, PA 17257-8987
~o
Signature: "-.. . l..I ~.
Name: Stan A. Skowronek
Date Signed: 08/20/2007
State Certification #: RL001572L
or State License #:
State: PA
Expiration Date of Certification or License: June 30. 2009
~J(A.J' lW\:-
SUPERVISORY APPRAISER (only if required)
Signature: S-~ ~ '-1)---. 71-
Name: Steven W. Barrett, SRPA, SRA
Date Signed: 08/20/2007
State Certification #: GA000298L
or State License #: RB026921A
State: PA
Expiration Date of Certification or License: June 30. 2009
APPRAISER:
o Did 00 Did Not Inspect Property
Certified Residential Appraiser
Freddie Mac Form 439 6-93
Certified General Appraiser
Page 2 of 2
Fannie Mae Form 1004B 6-93
File No. 07-0332
********* QUALIFICATIONS *********
The following checked items are SPECIFIC SPECIAL CONDITIONS that were identified by this appraiser during the
inspection of the subject property, the com parables sales, and their neighborhoods and locations. Unless otherwise
noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET
VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home
inspection service. This is an appraisal to estimate market value.
_1. The subject is located in a rural area and is less than 25% built-up.
_x_2. Commercial/Industrial uses are located within the subject's neighborhood. These uses are typical of similar
neighborhoods.
_3. Vacant and undeveloped land uses are located within the subject's neighborhood. These uses are typical for
the area.
_4. The predominant value in the neighborhood is less than that of the market value of the subject property. This
is due to the very wide range of value of properties in the area and superior quality of the subject property.
_5. The subject property is located in a F.E.M.A. Identified Flood Zone. Flood insurance coverage is required and
suggested.
_6. Dampness is noted in the basement of the subject. Standing or running water was not present on basement
floor. This condition is considered typical in dwellings of this style.
_7. The subject property is serviced by private well and/or septic systems which is common for the area.
_x_8. The subject is older than five(5) years. All mechanical systems including the heating, electrical and plumbing
systems appear upon a visual exterior inspection to be in working order. No warranties are implied in this statement.
_9. Repair items were noted in the comments section of the report. These comments on repair items are for
descriptive purposes only and are not required repairs. The items listed are cosmetic in nature.
_10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a
health or safety hazard.
_11. The subject property does contain functional obsolescence as noted in the report. This condition is
considered typical and common for the area and this style dwelling.
_12. The land value exceeds 30% of total value due to the high demand for vacant land in this neighborhood. This
condition is considered common and typical for the neighborhood. i
_13. The land value exceeds 30% of total value. This is due to the large size of the site. This condition is
considered to be typical and common.
_14. Individual adjustments were required that exceed 15%. These adjustments were required due to lack of more
similar com parables on that individual rating. All com parables used are the best available.
_15. Total adjustments exceed 25%. This is due to the lack of comparable sales that were more similar in the
subject's market area. All com parables used are the best available.
_x_16. One or more comparable sales are older than six(6) months. Although there are comparable properties in the
subject's area, none have sold recently; therefore, sales in excess of six(6) months have to be used. All com parables
used are the best available.
_x_H. One or more comparables used were in excess of one (1) mile from the SUbject property. Although there are
comparable properties in the immediate area, none have sold recently. Therefore, it was necessary to use comparable
sales outside of the immediate area. All comparables used are located in similar neighborhoods and within the same
marketing area. All com parables used are the best available.
_18. The electrical system was not connected during inspection.
_19. The water service was not connected during inspection.
_20. The heating system was shut down during inspection.
_21. Roofing_Plumbing_Electrical_Heating_certification(s) is/are suggested.
22. Inground swimming pool_, out buildings_are included-,not included_according to lender's
guidelines.
_23. According to lender's guidelines a maximum of_acres were considered for this valuation. Remaining
acreage was given no value.
~m _
File No. 07-0332
********* QUALIFICATIONS *********
_24. The subject property is located on a private road.
_25. Wood infestation inspection is suggested.
_x_26. Last recorded deed transfer: Date_02/10/1986_, Consideration: $_55,900
_27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like
manner.
_28. Seller is paying part or all of closing costs.
_x_29. All comparable sales are verified closed sales.
_x_30. There are no special conditions or other requirements that would affect market value or future marketability in
the Appraisal Report.
CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING
INSPECTION.
File No. 07-0332
********* QUALlFICA liONS *********
Confidentiality and Security Policy
We consider privacy to be fundamental to our relationship with clients. We are committed to maintaining the
confidentiality, integrity and security of clients' personal information. Internal policies have been developed to protect
this confidentiality, while allowing client needs to be served.
We restrict access to personal information to authorized individuals who need to know this information to comply with
federal standards to protect your nonpublic personal information. We do not disclose this information about you or
any former consumers or customers to anyone, except as permitted by law. The law permits us to share this
information with our affiliates. The law also permits us to share this information with companies that perform
marketing.
When we share non public information referred to above, the information is made available for limited purposes and
under controlled circumstances. We require third parties to comply with our standards for security and confientiality.
We do not permit use of consumer/customer information for any other purpose nor do we permit third parties to rent,
sell, trade or otherwise release or disclose information to any other party.
Education
As of the date of this report, I and/or Steven W. Barrett, SRPA, SRA, have completed the requirements under the
continuing education program of the Appraisal Institute.
rl:1M&I'Bank
499 Mitchell Road, Millsboro, DE 19%6 Mail Code DE-MB-12
Phone (888) 502-4349
Fax (302) 934-2955
August 14, 2007
Law Offices
Irwin & McKnight
West Pomfret Professional Building
60 West Pomfret Street
Carlisle, Pennsylvania 17013-3222
Re: Estate of' Cvril D Gutshall
Social Securitv: 191-18-4576
Date of Death: Julv 27. 2007
Dear Sir or Madam:
Per your inquiry dated August 10, 2007, please be advised that at the time of death, the above-named decedent had on
deposit with this bank the following:
1.
Type of Account
Checking Account
Account Number
67345468
Ownership (Names oj)
Cyril D Gutshall *
Opening Date
12/28/84
Balance on Date of Death
$22,571.10
Accrued Interest
$
0.28
Total
$22,571.38
2.
Type of Account
Savings Account
Account Number
015004206012889
Ownership (Names oj)
Cyril D Gutshall *
Opening Date
06/28/85
Balance on Date of Death
$65,240.70
Accrued Interest
$ 39.74
Total
$65,280.44
3.
Type of Account
Certificate of Deposit
Account Number
031003915941023
Ownership (Names oj)
Cyril D Gutshall *
Opening Date
02/02/07
Balance on Date of Death
$/0,000.00
Accrued Interest
$ 245.31
Total
$10,245.31
4.
Type of Account
Certificate of Deposit
Account Number
031003915941627
Ownership (Names oj)
Cyril D Gutshall *
Opening Date
03/23/07
Balance on Date of Death
$10,000.00
Accrued Interest
$ 165.33
Total
$10,165.33
Please be advised, there was no safe deposit box found for the above decedent.
* If upon reviewing the information above, you believe there are additional accounts not referenced, please provide
us with an account number and/or the name of any possible joint account holder. For any additional information on
the above accounts, including ownership and any changes, closures and/or reimbursement of funds, please call the
Walnut Bottom Office # 717-532-2414.
Sincerely.
~#~~7~'
J~ncy ckgett
Records Management
M
P.O. Box 4650
ACH/EDI Services
Buffalo, NY 14240-9975
(800) 724-2240
*** This is an Advice ***
CYRIL D GUTSHALL
199 PARK HEIGHTS AVE
SHIPPENSBURG PA 17257-8987
Date: Friday, August 17,2007
Subject: Notification of Death / Reclamation
Case Number: 11527
Funds Deposited to Account:
Funds Deducted from Account(s):
67345468
67345848 $1,736.85
This is to advise you that on 8/17/2007 we deducted from the account(s) shown above the amount of $1736.85,
for the Civil Service Direct Deposit of 8/1 /2007.
Due to the fact that CYRIL D GUTSHALL has passed away prior to the issuance of the credit, the Treasury of
the United States is requesting reimbursement. In accordance with Federal Regulations, direct deposits may not
be retained by the beneficiary unless the beneficiary lived through the entire month prior to the date of issuance.
Ifthe number of the 'account deducted from' is different from the account into which the funds were originally
deposited, the deduction is authorized under the bank's rules for right of offset because one or more of the
owners on both accounts are the same.
Should you have any further questions about this charge, please call and refer to the case number above.
This advice is provided to facilitate the reconcilement of your monthly account statement.
ACHlEDI Services
M&T