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Home My WebLink About10-03-07 (2) IN THE MATTER OF THE ESTATE OF THOMAS J. SCHAEDLER, JR., DECEASED IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION No. 2005-1067 RECEIPT, RELEASE, REFUNDING AND INDEMNITY AGREEMENT FOR TERMINATION OF THE ESTATE OF THOMAS J. SCHAEDLER. JR.. DECEASED THIS AGREEMENT (the "Agreement"), dated as of September 13,2007, is entered into by and among the hereinafter named persons, namely Rosemary A. Schaedler, the decedent's surviving spouse, in her individual and fiduciary capacities as more particularly described herein; Elizabeth Ann Schaedler and Antoinette Schaedler-Mandich, the children of the decedent; and Robert R. Church, Esq., in the fiduciary capacity hereinafter set forth. .~ <:::) THE CIRCUMSTANCES leading up to the execution of this Agreement~_~!foll~s: __-,.", I ---;: _.,-] ~0 1. Thomas J. Schaedler, Jr., (the "Decedent"), late of East Pennsboro T~~shi~ ") ".-; I === .- Cumberland County, Pennsylvania, died testate on November 27,2005. W N 2. On December 9, 2005, the Register of Wills of Cumberland County, Pennsylvania, issued Letters Testamentary for the Decedent's probate estate (the "Estate") to Rosemary A. Schaedler, as executor (the "Executor"). 3. The Decedent was survived by his wife, Rosemary A. Schaedler, and by his two adult children, Elizabeth Ann Schaedler and Antoinette Schaedler-Mandich (all such family members are hereinafter collectively referred to as the "Beneficiaries"). - 1 - 4. The Decedent was the owner of8,695.39 shares of the issued and outstanding common stock of Schaedler/Yesco Distribution, Inc. (SYD), a closely-held business, as well as other assets. 5. By Article V of the Decedent's Last Will and Testament, dated November 27, 2005 (the "Will"), he bequeathed SYD shares worth $1,000,000 to his daughter Elizabeth Ann Schaedler, with the balance of his SYD shares to pass either to the Marital Trust or the Bypass Trust, as described in the Will. 6. By that certain Receipt, Release, Refunding and Indemnity Agreement, dated August 22,2006,5,988.024 shares ofSYD stock and post-mortem dividends totaling $48,724.98, were distributed to Elizabeth Ann Schaedler, in full and complete satisfaction of the legacy made her under Item V of the Will. 7. Under Item VI of the Will, the residue of the Estate is divisible into separate shares, based upon a fractional formula designed to eliminate any federal estate tax liability. By this formula, the Bypass Trust (for the exclusive lifetime benefit of his wife, Rosemary A. Schaedler) was designated to receive the largest fractional share possible without incurring any federal estate tax, as determined in the Decedent's federal estate tax proceeding. As set forth on the below-described Schedule, the Bypass Trust is entitled to a 45.89% fractional share of the Estate. 8. The Marital Trust was neither required nor funded. Per Item VI(c) of the Will the surviving spouse therefore receives her share of the Estate outright and free of trust. Based on -2- the Decedent's federal estate tax proceeding the fractional share payable to Rosemary A. Schaedler, outright, is 54.11 %. 9. Per the Will the Trustees of the Bypass Trust are Rosemary A. Schaedler (the "Individual Trustee") and Robert R. Church, Esq. (the "Independent Trustee"). The Individual Trustee and the Independent Trustee are collectively referred to as the "Trustees". 10. The Executor has prepared a First and Final Account (the "Account"), which is attached hereto as Exhibit "A" and incorporated herein by this reference, as well as a Schedule of Fractional Share Distribution (the "Schedule"), which is attached hereto as Exhibit "B" and incorporated herein by this reference. 11. In order to avoid the expense and delay that would otherwise be involved in the formal filing and adjudication of a fiduciary accounting before the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court"), the parties are executing this Agreement, in order to release the Executor. 12. The Executor is willing to terminate the administration of the Estate informally, in exchange for the release and indemnification protections hereinafter provided to the Executor by the Beneficiaries and by the Individual Trustee. 13. The Independent Trustee is executing this Agreement in reliance upon the execution hereof by the Beneficiaries and by the Individual Trustee, who are hereby indicating their satisfaction with the Executors' administration of the Estate. 14. As shown on the Schedule, the Bypass Trust is entitled to a combined distribution value of $492,456.19, which comprises 45.89% of the balance available for distribution per the - 3 - Account. The Parties desire the Executor to fund the Bypass Trust with all of the decedent's remaining 2,707.366 shares ofSYD, even though the distribution value of such SYD shares is $2,991.78 greater than the amount properly distributable to the Bypass Trust, as set forth on the Schedule. For this reason, the Schedule includes a deemed principal distribution (from the Bypass Trust to Rosemary A. Schaedler as the beneficiary thereof) in the amount of $2,991.78. The Parties understand and agree that this deemed distribution will not be paid to Rosemary A. Schaedler, individually, unless and until principal cash ever becomes available for such purpose. NOW THEREFORE, in consideration ofthe foregoing, and intending to be legally bound hereby, the Beneficiaries, the Trustees, and the Executor (collectively, the "Parties"), for themselves, their heirs, personal representatives, successors, and assigns, hereby agree as follows, to wit: A. The Parties represent and warrant that they have read and understand this Agreement and confirm that the facts set forth above are true and correct, to the best of their knowledge, information and belief. B. The Parties acknowledge receipt of a copy of the Account, attached hereto as Exhibit A, and also acknowledge receipt of a copy of the Schedule, attached hereto as Exhibit B. C. The Beneficiaries and the Individual Trustee declare that they have had the opportunity to review the Account and based upon such examination (or upon their decision not to make such an examination), they are satisfied that they have sufficient information to make an informed waiver of their right to a formal accounting with the Court, and do hereby waive the filing and auditing of the same. D. The Beneficiaries and the Individual Trustee hereby accept the Account and the Schedule, examined or not, as if the same had been duly filed with and audited, adjudicated and confirmed absolutely by the Court. -4- E. The Beneficiaries and the Individual Trustee acknowledge that the distributive shares specified on the Schedule are made in full satisfaction of their respective entitlements in the Estate, whether under the Will or otherwise. F. In reliance upon the foregoing, the Independent Trustee accepts the Account and the Schedule for the purposes set forth herein. G. The Beneficiaries and the Trustees, severally and not jointly, agree to refund, on demand, all or any part of the aforesaid distributions to them, which have been determined by the Executor, or by the Court, or by any court of competent jurisdiction, to have been improperly made. H. The Beneficiaries and the Trustees absolutely and irrevocably remise, release, quit-claim and forever discharge the Executor, including her successors, of and from any and all actions, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the Estate. I. The Beneficiaries and the Trustees acknowledge receipt of their respective distributive shares of the Estate, as set forth on the Schedule. J. The Beneficiaries and the Individual Trustee, severally and not jointly, agree to indemnify and hold harmless the Executor together with her respective attorneys, agents, employees, predecessors, successors and assigns, from and against all claims, losses, liability or damage that may be asserted against the Executor, with respect to the matters set forth in this Agreement. K. The Parties acknowledge that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. L. The Parties consent to the Court exercising personal jurisdiction over them in any suit or action arising out of the enforcement of this Agreement. IN WITNESS WHEREOF, The Parties have executed the attached Consents to this Agreement with the same to be effective for all purposes from the date first above written. - 5 - IN THE MATTER OF THE ESTATE OF THOMAS J. SCHAEDLER, JR., DECEASED IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 2005-1067 CONSENT TO RECEIPT, RELEASE, REFUNDING AND INDEMNITY AGREEMENT FOR TERMINATION OF THE ESTATE OF THOMAS J. SCHAEDLER. JR.. DECEASED THE lJNDERSIGNED~ ROSEMA...ltY A. SCHAEDLER, individually and in the fiduciary capacities set forth therein, hereby consents to the Receipt, Release, Refunding and Indemnity Agreement For Termination of the Estate of Thomas J. Schaedler, Jr., deceased (the "Release"), for the purposes expressed therein, a copy of which Release, including Exhibits A and B thereto, has been provided to her. ~a~ ROSEMAR . SCHAEDLER COMMONWEALTH OF PENNSYLVANIA SS. COUNTY OF Ctcll1~LAN() On this, the I Cf day of 4..,.,J..4f4' ,2007, before me, the undersigned officer, personally appeared ROSEMARY A. SCHAEDLER, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowiedged that she executed the same for the purposes and in the capacities indicated therein as her free and voluntary act. COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL ROBERTA E. BIESECKER, Notary Public Camp Hill 801:0, Cumb,...and County _~y~~~mmissif)n Flt"ires ~t2tv 23..2009 IN WITNESS WHEREOF, I have hereunto set my hand and official seal. ~~~ Notary Public r'f-;~'c:Y)N';VU\LTH OF PENNSYLVANIA !::-:----~--.~i~OTARIAl SEAL iiJl'J\: h \;\ E. BI€SECKER, Notary Public {c;inp Hill ~~o, c~mberl~ntCounty My cpron1~~m.tL~~O!~~~ i;,\< (_.J:_?009 . .."......",....... -6- IN THE MATTER OF THE ESTATE OF THOMAS j. SCHAEDLER, JR., DECEASED IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 2005-1067 CONSENT TO RECEIPT, RELEASE, REFUNDING AND INDEMNITY AGREEMENT FOR TERMINATION OF THE ESTATE OF THOMAS J. SCHAEDLER. JR.. DECEASED THE UNDERSIGNED, ELIZABETH ANN SCHAEDLER, hereby consents to the Receipt, Release, Refunding and Indemnity Agreement For Termination of the Estate of Thomas J. Schaedler, Jr., deceased (the "Release"), a copy of which, including Exhib'ts A and B t ereto, has been provided to her. COMMONWEALTH OF PENNSYLVANIA COUNTYO~~ On this, the f)-'!~day of 5€~A2007, before me, the undersigned officer, personally appeared ELIZABETH ANN SCHAEDLER, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same as her free and voluntary act for the purposes expressed therein. SS. IN WI1NESS WHEREOF, I have hereunto set my hand and official seal. ~' COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL MICHAEL R. CARANCI, Notary Public Lemoyne Boro. Cumberland County I My Commission Expires June 15, 2010 IN THE MATTER OF THE ESTATE OF THOMAS J. SCHAEDLER, JR., DECEASED IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 2005-1067 CONSENT TO RECEIPT, RELEASE, REFUNDING AND INDEMNITY AGREEMENT FOR TERMINATION OF :THE ESTATE OF THOMAS J. SCHAEDLER. JR.. DECEASED THE UNDERSIGNED, ANTOINETTE SCHAEDLER-MANDICH, hereby consents to the Receipt, Release, Refunding and Indemnity Agreement For Termination of the Estate of Thomas J. Schaedler, Jr., deceased (the "Release"), a copy of which, including Exhibits A and B thereto, has been provided to her. COMMONWEALTH OF PENNSYLVANIA COUNTY OF ~()m.ber/and SS. On this, the / qM day of, ('"2007, before me, the undersigned officer, personally appeared ANTOINETTE S HAEDLER-MANDICH, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same as her free and voluntary act for the purposes expressed therein. IN WITNESS WHEREOF, I have hereunto set my hand and 0 COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL SUZANNE M. DEDERER, Notary Public Camp HUI Boro, Cumberland County ~y Commission Expires Aug_ 20. 2009 - 8 - IN THE MATTER OF THE ESTATE OF THOMAS J. SCHAEDLER, JR., DECEASED IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 2005-1067 CONSENT TO RECEIPT, RELEASE, REFUNDING AND INDEMNITY AGREEMENT FOR TERMINATION OF THE ESTATE OF THOMAS J. SCHAEDLER. JR.. DECEASED THE UNDERSIGNED, ROBERT R. CHURCH, ESQ., as Independent Trustee of the Bypass Trust U/W, hereby consents to the Receipt, Release, Refunding and Indemnity Agreement For Termination ofthe Estate of Thomas J. Schaedler, Jr., deceased (the "Release"), a copy of which, including Exhibits A and B thereto, has been provided to him. Ha~ ROBERT R. CHURCH, ESQ., Co-Trustee COMMONWEALTH OF PENNSYL VANIA SS. COUNTY OF DAUPHIN On this, the \ Jt-*' day of ~~ro\:\()~, 2007, before me, the undersigned officer, personally appeared ROBERT R. ~H, ESQ., known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same as his free and voluntary act, in the fiduciary capacity indicated, for the purposes expressed therein. IN WITNESS WHEREOF, I have hereunto set my hand and official seal. ~~~ Notary Public - 9- Notarial Seal Kristi P. Foster. Notal')' ""bile City of Harrisburg, Dauphin Cmmft My Commission Explrc5 '11 L 8,. 10{}g Member. Pennsylvania A~~(lt1<j!'i,~ii;flfaffli~- SUMMARY OF ACCOUNT Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 Page Principal Receipts Net Gain (or Loss) on Sales or Other Dispositions Other Receipts Less Disbursements Administration Expenses (Prin) Fees and Commissions (Prin) Funeral Expenses (Prin) Other Expenses (Prin) Balance before Distributions Distributions to Beneficiaries Principal Balance on Hand For Information: Changes in Investment Holdings Income Receipts Less Disbursements Balance before Distributions Distributions to Beneficiaries Income Balance on Hand Combined Balance on Hand 1-3 4 5 5 5 5-6 $ 52,597.07 42,129.08 9,326.90 26,330.00 7 8 9-10 11-13 14 EXHIBIT A Fiduciary Acquisition Value $ 2,058,058.38 (818.67) 0.00 $ 2,057,239.71 130,383.05 $ 1,926,856.66 1,008,989.01 $ 917,867.65 $ 158,578.20 0.00 $ 158,578.20 48,727.98 $ 109,850.22 $ 1,027,717.87 RECEIPTS OF PRINCIPAL Estate of Thomas J. Schaedler Jr. As of 9/14/2007 Page 1 Assets Listed in Inventory (Valued as of date of death) Fiduciary Acquisition Value Cash on Hand Schaedler Vesco Final Paycheck Schaedler Vesco Post-mortem Salary Continuation Schaedler Vesco Post-mortem Salary Continuation Payment Refund from John's Hopkins Hospital 2005 1040 Refund due decedent from US Treasury 2005 PA-40 Income Tax Refund from PA Dept of Revenue $ 2,607.04 2,693.30 2,672.49 25.00 8,883.00 106.00 $ 16,986.83 Common Stocks Hershey Company 8,613.27 155.4952 Units $38.10 Accrued Dividend Preferred Stocks GuardianLife Policy #3699005 on life of James Schaedler 1,250,000 Units Guardian Life Policy # 3699087 on life of Henry Schaedler 700,000 Units $ 126,049.40 76,871.08 202,920.48 Closely Held Corporations Schaedler Vesco Distribution 8,695.39 Units $19,467.00 Accrued Dividend 1,471,597.13 Debt Instruments Schaedler Vesco 6% Promissory Note $3,056.71 Accrued Interest 291,056.71 TOTAL INVENTORY $ 1,991,174.42 Receipts Subsequent to Inventory (Valued when received) RECEIPTS OF PRINCIPAL Estate of Thomas J. Schaedler Jr. As of 9/14/2007 11/20/2006 1.333% S & S & S Real Estate Limited Partnership 6/15/2007 Citizen's Bank Fee Rebate TOTAL RECEIPTS SUBSEQUENT TO INVENTORY $ 12,765.00 16.00 Page 2 $ 12,781.00 Adjustment to Carrying Values RECEIPTS OF PRINCIPAL Estate of Thomas J. Schaedler Jr. As of 9/14/2007 3/23/2006 Adjust policy value to reflect purchase price per policy transfer agreement to James Schaedler Adjusted Value Value per Inventory 3/23/2006 Adjust policy value to purchase price per policy transfer agreement to Henry Schaedler Adjusted Value Value per Inventory TOTAL ADJUSTMENTS TO CARRYING VALUES SUMMARY Total Inventory Total Receipts Subsequent To Inventory Total Adjustments To Carrying Values TOTAL RECEIPTS OF PRINCIPAL $ 159,062.16 126,049.40 97,961.28 76,871.08 Page 3 $ 33,012.76 21,090.20 $ 54,102.96 $ 1,991,174.42 12,781.00 54,102.96 $ 2,058,058.38 GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 Page 4 Gain Loss 4/26/2006 Partial sale proceeds for Guardian Life Policy #3699087 to Henry Schaedler per 3/23/06 policy transfer agreement 542,500 Units Net Proceeds Fiduciary Acquisition Value $ 76,000.00 75,919.99 Net Gain $ 80.01 6/13/2006 Sale of Guardian Life Policy to Henry Schaedler per policy transfer agreement 157,500 Units Net Proceeds $ 21,961.28 Fiduciary Acquisition Value 22,041.29 Net Loss $ 80.01 11/14/2006 Principal Payment on Schaedler Vesco Promissory Note Net Proceeds $ 51,000.00 Fiduciary Acquisition Value 51,000.00 Net Gain 0.00 12/15/2006 Sale of 156.1539 shs Hershey Co. 156.1539 Units Net Proceeds $ 7,789.24 Fiduciary Acquisition Value 8,607.91 Net Loss 818.67 Total Gains and Losses 80.01 898.68 Less Gain 80.01 Net loss $ 818.67 DISBURSEMENTS OF PRINCIPAL Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 Page 5 Administration Expenses (Prin) 2/15/2006 Cumberland County Register of Wills, Agent Payment on account of PA Inh Tax $ 46,075.00 2/16/2006 Rosemary Schaedler Reimbursement for probate expenses advanced to estate 733.00 5/25/2006 Paid Keefer Wood Allen & Rahal reimbursement for probate fees & expenses advanced 114.07 8/28/2006 Paid Register of Wills, Agent PA Inheritance Tax balance due from estate 4,675.00 8/30/2006 Paid Cumberland County Register of Wills additional probate fee 500.00 7/23/2007 Keefer Wood Allen & Rahal, LLP Reserve for final administration Expenses 500.00 $ 52,597.07 Fees and Commissions (Prin) 9/9/2006 Paid Keefer Wood Allen & Rahal, LLP legal fees per statement $ 25,622.59 9/12/2007 Keefer Wood Allen & Rahal, LLP reserve for legal fees 5,000.00 9/12/2007 Keefer Wood Allen & Rahal, LLP legal fees to 8/31/07 11,506.49 42,129.08 Funeral Expenses (Prin) 1/6/2006 Neill Funeral Home Funeral services for decedent 9,326.90 Other Expenses (Prin) 1/6/2006 Holy Spirit Hospital Hospital bill for decedent $ 256.00 1/14/2006 US Treasury Payment of 4th quarter 1040ES for decedent 22,600.00 1/14/2006 PA Dept of Revenue payment of 4th quarter PA40 ES for decedent 2,030.00 DISBURSEMENTS OF PRINCIPAL Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 4/10/2006 Paid West Shore Local Income Tax for decedent 2/10/2007 Paid PA Dept of Revenue 2005 PA-41 Tax Due 5/31/2007 Citizen's Bank monthly maintenance fee TOTAL DISBURSEMENTS OF PRINCIPAL $ 960.00 468.00 16.00 Page 6 $ 26,330.00 $ 130,383.05 DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 To: Rosemary A. Schaedler Income Tax Refund due to decedent, distributable to spouse as joint filer 8/24/2006 Cash $ 8.989.00 Total for Rosemary A. Schaedler To: Elizabeth A. Schaedler Distribution of Specific Bequest 8/31/2006 Schaedler Vesco Distribution 5,988.024 Units Balance before distribution $1,452,130.13 TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES Page 7 $8,989.00 1,000,000.01 $ 1,008,989.01 PRINCIPAL BALANCE ON HAND Estate of Thomas J. Schaedler Jr. As of 9/14/2007 Current Value Checking Accounts Citizen's Green Estate Ckg Acct # 621819-114-5 Citizen's Bank Estate Ckg # 621819-115-3 $316,823.65 1,000.00 Common Stocks Hershey Company 158.1624 Units 7,999.10 Closely Held Corporations Schaedler Vesco Distribution 2,707.366 Units 452,130.12 Debt Instruments Schaedler Vesco 6% Promissory Note 237,000.00 Other Real Property 1.333% S & S & S Real Estate Limited Partnership 12,765.00 $1,027,717.87 109,850.22 $ 917,867.65 Less: Income balance on hand PRINCIPAL BALANCE ON HAND Page 8 Carrying Value $316,823.65 1,000.00 7,999.10 452,130.12 237,000.00 12,765.00 $1,027,717.87 109,850.22 $ 917,867.65 INFORMATION SCHEDULES Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 Changes in Investment Holdings Hershey Company 12/15/2005 Dec Dividend 12/15/2005 Purchase of Hershey Co shares from accrued dividend paid 12/15/05 0.6587 Units 3/15/2006 Hershey Co Dividend Reinvestment 0.7245 Units 6/15/2006 Hershey Co dividend reinvestment 0.7118 Units 9/15/2006 Hershey Co dividend reinvestment 0.8242 Units 12/15/2006 Sale of 156.1539 shs Hershey Co. 156.1539 Units 12/15/2006 Hershey Corp dividend reinvestment 0.839 Units 1/16/2007 Purchase of 154.231 shs Hershey Corp. 154.231 Units 6/15/2007 Dividend 0.8319 Units GuardianLife Policy #3699005 on life of James Schaedler 6/2/2006 Sale of Guardian Life POlicy to James Schaedler per policy transfer agreement 1,250,000 Units Guardian Life Policy # 3699087 on life of Henry Schaedler 4/26/2006 Partial sale proceeds for Guardian Life Policy #3699087 to Henry Schaedler per 3/23/06 policy transfer agreement 542,500 Units 6/13/2006 Sale of Guardian Life Policy to Henry Schaedler per policy transfer agreement 157,500 Units $ 8,613.27 (38.10) 38.10 38.26 38.44 42.55 (8,607.91) 42.77 7,789.24 42.48 $ 159,062.16 (159,062.16) $ 97,961.28 (75,919.99) (22,041.29) Page 9 $ 7,999.10 0.00 0.00 INFORMATION SCHEDULES Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 Page 10 Schaedler Vesco Distribution $ 471,597.12 1/27/2006 Accrued Dividend to 000 (19,467.00) $ 452,130.12 Schaedler Vesco 6% Promissory Note $ 291,056.71 1/10/2006 Accrued interest due decedent on promissory note for October & November (3,056.71 ) 11/14/2006 Principal Payment on Schaedler Vesco Promissory Note (51,000.00) 237,000.00 Citizen's Bank Fee Rebate $ 16.00 6/15/2007 Fee Rebate (16.00) 0.00 Rosemary A Schaedler Cash advance loan to Estate $ 0.00 2/23/2006 Received cash advance from Rosemary Schaedler 47,075.00 8/28/2006 Repayment of cash advance to Rosemary A Schaedler by estate check #512 (46,075.00) 9/10/2007 Rosemary A. Schaedler Repaid cash advance made to estate (1,000.00) 0.00 Dividends Hershey Company RECEIPTS OF INCOME Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 3/15/2006 Hershey Co Dividend Reinvestment 6/15/2006 Hershey Co dividend reinvestment 9/15/2006 Hershey Co dividend reinvestment 3/20/2007 Hershey Co Dividend 12/15/2006 Hershey Corp dividend reinvestment 6/15/2007 Dividend Schaedler Vesco Distribution 1/9/2006 January dividend 4/12/2006 March dividend 6/8/2006 June Dividend 9/15/2006 Sept Dividend 1/10/2007 January dividend 4/12/2007 April Dividend 6/15/2007 June Dividend 7/20/2007 Extra 2nd Qtr.Dividend 9/1/2007 Dividend Total Dividends Interest Citizens' Bank Estate Checking Account 12/30/2005 December Interest 1/31/2006 January Interest $ 38.26 38.44 42.55 42.77 42.48 42.48 246.98 19,964.00 29,098.00 21,693.00 6,754.00 6,754.00 20,197.00 9,515.00 1,734.00 10,382.00 126,091.00 2.50 7.62 Page 11 $ 126,337.98 2/28/2006 February Interest 3/31/2006 March Interest 4/28/2006 April Interest 5/31/2006 May Interest 6/30/2006 June Interest 7/31/2006 July Interest 8/31/2006 Aug Interest 9/29/2006 Sept Interest 10/31/2006 Oct Interest 11/30/2006 Nov Interest 12/29/2006 Dec Interest 1/31/2007 Jan Interest 2/28/2007 Feb Interest 3/30/2007 March Interest 4/30/2007 April Interest 5/31/2007 May Interest RECEIPTS OF INCOME Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 Citizen's Green Estate Ckg Acct # 621819-114-5 4/30/2007 April Interest 5/31/2007 May Interest 6/29/2007 June Interest 7/31/2007 Interest 8/31/2007 Interest Page 12 $ 9.82 6.32 13.30 43.41 103.29 114.68 116.12 75.17 75.54 87.73 95.29 97.53 88.46 97.87 50.56 0.08 1,085.29 535.80 1,201.71 1,184.50 1,256.76 1,276.31 5,455.08 RECEIPTS OF INCOME Estate of Thomas J. Schaedler Jr. For Period 11/27/2005 Through 9/14/2007 Schaedler Vesco 6% Promissory Note 1/10/2006 Interest on promissory note for balance of November 1/10/2006 Interest on promissory note for December 5/15/2006 Interest received on Schaedler Vesco Promissory Note 7/13/2006 Interest received on Schaedler Vesco Promissory Note 10/13/2006 Interest on promissory note 1/19/2007 Interest on SYD Note 5/3/2007 Int on SchaedlerNesco Promissory Note 7/23/2007 Interest received on Schaedler Vesco Promissory Note Total Interest Rental Income 1.333% S & S & S Real Estate Limited Partnership 4/20/2007 2006 dividend distribution Total Rental Income TOTAL RECEIPTS OF INCOME Page 13 $ 142.03 1,467.62 4,260.83 4,308.16 4,355.51 3,844.12 3,506.31 3,545.27 25,429.85 $ 31,970.22 270.00 270.00 $ 158,578.20 (J)-N~'1J (').$:>- c:~~"""'0~ ';S'(1I O'rO(ll~ c:~ , __,(tl" :;:l'''' o():"""3-6' ,,- ~%~~~ ?"-aa 03m-<'po ~o tii 0 ~ ):>' .9:-1 C ;00 ~~O)' c: _. .. ~ (J) (II (Il (II g ~g.3 .....(tl g. 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