HomeMy WebLinkAbout11-09-07 (2)
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15D5bD1f111f7
REV.1500 EX (06-05)
PA Department of Revenue
Bureau of Individual Taxes
PO BOX.280601
Harrisburg, PA 17128-0601
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
OFFICIAL USE ONLY
*'
County Code Year
File Number
INHERITANCE TAX RETURN
RESIDENT DECEDENT 2 1 0 7
0157
Date of Birth
1.76326320
02092007
02221918
Decedent's Last Name
Suffix
Decedent's First Name
LAROCCA
SR.
EUGENE
MI
W
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name
Suffix
Spouse's First Name
MI
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
~ 1. Original Return D 2. Supplemental Return D 3. Remainder Return (date of death
prior to 12-13-82)
4. Limited Estate D 4a. Future Interest Compromise D 5. Federal Estate Tax Return Required
(date of death after 12-12-82)
[KI 6. Decedent Died Testate D 7. Decedent Maintained a Uving Trust 0 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
U 9. Litigation Proceeds Received D 10 Spousal Poverty Credit (date of death D 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
THOMAS E. FLOWER 7177373405
Firm Name (If Applicable)
SAIDIS, FLOWER & LINDSAY
REGISTER Of' WILLS USE ONLY
J :_..
First line of address
2109 MARKET STREET
Second line of address
~)
CAMP HILL
State
PA
ZIP Code
17011
DATE FILED \'?
f'-J
City or Post Office
...........
Correspondent's e-mail address:
Under penalties of perjury, 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.
GNAT RE OF PE ON R NSIBL R Fill RETURN DATE
Mark D.laRocca /1- /f -~()
Thomas E. Flower
DATE
//-7' \JL]D7
2109 Market Street, Camp Hill, PA 17011
Side 1
L
15D5bD41147
15D5bD1f111f7
....J~
--.J
:L5056042:L4ta
REV-1500 EX
Decedent's Name: Eugene W. LaRocca Sr.
RECAPITULATION
Decedent's Social Security Number
176326320
1. Real Estate (Schedule A).......................................................................................... 1.
2. Stocks and Bonds (Schedule B)............................................................................... 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C).......... 3.
4. Mortgages & Notes Receivable (Schedule D).......................................................... 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E)................ 5.
6. Jointly Owned Property (Schedule F) D Separate Billing Requested............. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) D Separate Billing Requested............. 7.
8. Total Gross Assets (total Lines 1-7)....................................................................... 8.
9. Funeral Expenses & Administrative Costs (Schedule H)......................................... 9.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I)................................ 10.
11. Total Deductions (total Lines 9 & 10)...................................................................... 11.
12. Net Value of Estate (Line 8 minus Line 11 )............................................................. 12.
13. Charitable and Governmental Bequests/See 9113 Trusts for which
an election to tax has not been made (Schedule J)................................................. 13.
14. Net Value Subject to Tax (Line 12 minus Line 13)................................................. 14.
TAX COMPUTATION. SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, of
transfers under Sec. 9116
(a)(1.2) X ~
16. Amount of Line 14 taxable
at lineal rate X .045
17. Amount of Line 14 taxable
at sibling rate X .12
18. Amount of Line 14 taxable
at collateral rate X .15
0.00
15.
1,163,777.25
16.
0.00
17.
0.00
18.
19. Tax Due......................... ............ ........... ...................... ............................................... 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
Side 2
L
:L5056042:L48
936,000.00
20,499.64
258,997.95
171.34
6,007.88
1,221,676.81
51,574.94
6,324.62
57,899.56
1,163,777.25
1,163,777.25
0.00
52,369.98
0.00
0.00
52,369.98
D
:L5056042:L48
--.J
REV-1500 EX Page 3
Decedent's Complete Address:
DECEDENT'S NAME
Eugene W. LaRocca Sr.
----~..._~-~-~._-
STREET ADDRESS
170 West Pomfret Street
--~~-~
File Number 21-07-0157
~- ~--~
----
CITY
I STATE
PA
IZIP
17013
~~--~~~-
Carlisle
Tax Payments and Credits:
1. Tax Due (Page 1 line 19)
2. Credits/Payments
A. Spousal Poverty Credit
8. Prior Payments
C. Discount
(1) 52,369.98
37,000.00
1,947.37
3. Interest/Penalty if applicable
D. Interest
E. Penalty
Total Credits (A + 8 + C)
(2) 38,947.37
Total Interest/Penalty (D + E)
4. If line 2 is greater than line 1 + line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 2 Line 20 to request a refund
5. If line 1 + line 3 is greater than line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
8. Enter the total of line 5 + 5A. This is the BALANCE DUE.
(3)
(4)
(5)
(5A)
(58)
13,422.61
13,422.61
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:
a. retain the use or income of the property transferred;.................................................................................. D
b. retain the right to designate who shall use the property transferred or its income;.................................... D
c. retain a reversionary interest; or.................................................................................................................. D
d. receive the promise for life of either payments, benefits or care?.............................................................. D
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without
receiving adequate consideration?................................. .................................. .......... ......................................... [J
D
Yes
No
~
~
~
[!l
~i
IX:~
l~_~
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?.........
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation?. ......................... ........................................ ........... .................. ............. ......... ~ D
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
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
survivinl;) 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.1502 EX+ (6.98)
*'
SCHEDULE A
REAL ESTATE
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07-0157
ESTATE OF
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 knowiedge of the relevant facts.
Real property which Is Jolntly-owned with right of survIvorship must be disclosed on schedule F.
ITEM
NUMBER DESCRIPTION
1 170 West Pomfret Street, Carlisle Boro, Cumberland County, PA - Tax Parcel
#04-21-0320-193
Based on Appraisal-Attached
VALUE AT DATE
OF DEATH
215,000.00
2 273 Fox Hill Road, Hopewell Township, Newburg, Pennsylvania -150 Acre Farm
Tax Parcels #11-09-0509-004 & 11-09-0509-004A
Based on Appraisal-Attached
700,000.00
3 Vacant Land-Ritner Highway, South Newton Township, Newville, Pennsylvania -
Tax Parcel #41-28-2040-011
Based on Appraisal-Attached
21,000.00
TOTAL (Also enter on Line 1, Recapitulation)
936,000.00
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule A (Rev. 6-98)
Rev-1503 EX+ (6-98)
*'
SCHEDULE B
STOCKS & BONDS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
ESTATE OF
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM CUSIP VALUE AT DATE
NUMBER NUMBER DESCRIPTION UNIT VALUE OF DEATH
1 61.4114 shares of Kerr McGee Corp. 69.90917 4,293.22
2 132 shares of M&T Bank, common stock 122.13 16.121.16
3 6 shares of Tronox Incorported - Class B Common 14.21 85.26
Stock
TOTAL (Also enter on Line 2, Recapitulation) 20.499.64
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule B (Rev. 6-98)
Rev-1508 EX+ (6.98)
*'
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
ESTATE OF
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property Jointly-owned with the right of survivorship must be disclosed on schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1 Church of God Home, refund 4.018.37
2 Dauphin County Pension Benefit 117.60
3 IRS, tax refund 2.060.00
4 PPL Electric Utilities 84.08
5 Refund of Insurance Premium 1,601.08
6 M& T Bank, CD #031003908163353 3.134.21
Accrued interest on Item 6 through date of death 146.26
7 M&T Bank, CD #031003916939945 20,153.56
Accrued interest on Item 7 through date of death 890.11
8 M&T Bank, Checking Account #54379539 39,893.17
Accrued interest on Item 8 through date of death 2.97
9 M&T Bank, Savings Account #98210459 34,929.33
Accrued interest on Item 9 through date of death 11.01
10 Members First FCU, 12 month CD, account #51223-51 46.094.43
Accrued interest on Item 10 through date of death 40.71
11 Members First FCU, 9 month CD, account #51223-55 84.687.98
Total of Continuation Schedule
See attached page
TOTAL (Also enter on Line 5. Recapitulation)
258.997.95
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule E (Rev. 6-98)
Rev-1508 EX+ (6-98)
*'
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
continued
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
ESTATE OF
ITEM
NUMBER
DESCRIPTION
VALUE AT DATE
OF DEATH
Accrued interest on Item 11 through date of death
65.89
12
Navy FCU Bank Account #1970007
157.19
13
1987 Chevy S-10 Pickup Truck
700.00
14
Personal property (including antiques) - Per appraisal
20.210.00
TOTAL (Also enter on Line 5, Recapitulation)
258.997.95
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule E (Rev. 6-98)
Rev-1509 EX- (6-98)
SCHEDULE F
JOINTLY-OWNED PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
If an asset was made joint within one year of the decedent's date of death, It must be reported on schedule G.
SURVIVING JOINT TENANT(S) NAME
A. Mark D. LaRocca
ADDRESS
RELATIONSHIP TO DECEDENT
Son
503 West North Street
Carlisle, PA 17013
B.
C.
JOINTLY OWNED PROPERTY:
DESCRIPTION OF PROPERTY %OF DATE OF DEATH
LETTER DATE
ITEM FOR JOINT MADE INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT DATE OF DEATH DECO'S VALUE OF
NUMBER TENANT JOINT NUMBER OR SIMILAR IDENTIFYING NUMBER. ATTACH DEED FOR VALUE OF ASSET INTEREST DECEDENTS INTEREST
JOINTLY-HELD REAL ESTATE.
1 A 1/24/2007 Members First FCU, money magement 140.93 50.000% 70.47
account #51223-05
2 A 1/24/2007 Members First FCU, savings account 201.74 50.000% 100.87
#51223-00 -
TOTAL (Also enter on Line 6, Recapitulation) 171.34
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule F (Rev. 6-98)
Rev.1510 EX+ (6-98)
.
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07-0157
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.
ITEM DESCRIPTION OF PROPERTY DATE OF DEATH % OF DECD'S EXCLUSION TAXABLE
NUMBER INCLUDE NAME OF TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND VALUE OF ASSET INTEREST (IF APPLICABLE) VALUE
THE DATE OF TRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE.
1 AIG Annuity Insurance Co., contract #BX202944 6,007.88 100.000 0.00 6,007.88
- Beneficiary Mary J. Staszko-Daugher
TOTAL (Also enter on Line 7, Recapitulation) 6,007.88
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc,
Form PA-1500 Schedule G (Rev, 6-98)
REV.1151 EX+ (12.99)
*'
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
LaRocca, Eugene W. Sr.
Debts of decedent must be reported on Schedule I.
FILE NUMBER
21-07 -0157
ESTATE OF
ITEM DESCRIPTION AMOUNT
NUMBER
A. FUNERAL EXPENSES:
See continuation schedule(s) attached 7,742.81
B. ADMINISTRATIVE COSTS:
'1. Personal Representative's Commissions
Social Security Number(s) I EIN Number of Personal Representative(s):
Street Address
City State Zip
-
Year(s) Commission paid
') Attomey's Fees 21,450.00
...
See continuation schedule(s) attached
:-1. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent
4. Probate Fees 750.00
See continuation schedule(s) attached
<. Accountant's Fees
,I.
Ei. Tax Return Preparer's Fees
7'. Other Administrative Costs 21,632.13
See continuation schedule(s) attached
TOTAL (Also enter on line 9, Recapitulation) 51,574.94
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule H (Rev. 6-98)
Rev-1502 EX+ (6-98)
.
SCHEDULE H.A
FUNERAL EXPENSES
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
ITEM
NUMBER
DESCRIPTION
AMOUNT
1
Hoffman-Roth Funeral Home - Traditional Funeral Service Package $3,990.00;
Pieta Casket $2785.00; Obitiary Notices, Church charges, Death Certificates
$1067.81 Less $100.00
7.742.81
Subtotal
7.742.81
Copyri!~ht (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule H.A (Rev. 6-98)
Rev-1502 EX+ (6-981
*'
SCHEDULE H.B2
ATTORNEY'S FEES
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
ITEM
NUMBER
DESCRIPTION
AMOUNT
1
Saidis, Flower & Lindsay
21.450.00
Subtotal
21.450.00
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule H-B2 (Rev. 6-98)
Rev-1502 EX+ (6-98)
.
SCHEDULE H.B4
PROBATE FEES
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
ITEM
NUMBER
DESCRIPTION
AMOUNT
1
Register of Wills of Cumberland County - Probate Fees and Short Certificates
750.00
Subtotal
750.00
CoPyri9ht (c) 2002 form software only The Lackner Group, Inc.
Form PA.1500 Schedule H-B4 (Rev. 6-98)
Rev-1502 EX + (6-98)
*'
SCHEDULE H.B7
OTHER
ADMINISTRATIVE COSTS
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
'FILE NUMBER
I 21-07-0157
ITEM
NUMBER
DESCRIPTION
AMOUNT
1
Beverly Rosenberry, Tax Collector - Real Estate Taxes for Ritner Highway Property
310.34
2
Cumberland Law Journal - Advertise Estate Notice
75.00
3
Harry E. Killian, Tax Collector - Tax Parcel #11-09-0509-004
1,575.24
4
Harry E. Killian, Tax Collector - Tax Parcel #11-09-0509-004A
88.59
5
Inspection and repairs to truck
428.14
6
John B. O'Neill, Tax Collector - Real Estate Taxes for 170 W. Pomfret Street
2,435.75
7
Knox Electric Service - Electrical work on 170 Wet Pomfret Street
675.28
8
Michael Hofnagle, work at 170 Pomfret St., Carlisle, PA - Dumpster
550.00
9
Pennsylvania State Bank - Check Fee
16.25
10
PPL Electric Utilities
792.55
11
PPL Electric Utilities
41.90
12
PPL Electric Utilities
50.25
13
PPL Electric Utilities
53.59
14
PPL Electric Utilities
52.73
15
PPL Electric Utilities
40.60
16
Robert H. LaRocca, electrical work at 170 West Pomfret St. property
11.551.19
Copyri~,ht (c) 2002 form software only The Lackner Group, Inc.
Form PA.1500 Schedule H-B7 (Rev. 6-98)
Rev-1502 EX+ (6-98)
*'
SCHEDULE H.B7
OTHER
ADMINISTRATIVE COSTS
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07-0157
ITEM
NUMBER
DESCRIPTION
AMOUNT
17
S. W. Barrett Real Estate & Appraisal Services - Real Estate Appraisals for
170 W. Pomfret Street
Vacant Land-Ritner Highway
675.00
18 S. W. Barrett Real Estate & Appraisal Services - For 273 Fox Hill Road, Newburg, 500.00
PA
19 Seaboard Security Co, bond to replace stock certificate 241.50
20 The Sentinel - Estate Notice Advertisement 282.23
21 UGI - heating bill 299.00
22 UGI - heating bill 299.00
2:3 UGI - heating bill 299.00
24 UGI - heating bill 299.00
Subtotal
21.632.13
CoPyri9ht (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule H-B7 (Rev. 6-98)
Rev-1512 EX+ (6-98)
.
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
LaRocca, Eugene W. Sr.
FILE NUMBER
21-07 -0157
Include unreimbursed medical expenses.
ITEM
NUMBER DESCRIPTION
1 Beverly Rosenberry, tax collector (Ritner Highway property)
VALUE AT DATE
OF DEATH
56.72
2 Borough of Carlisle - Utility bill for 170 Pomfret Street
6.08
3 Borough of Carlisle, water and sewer (6 months)
113.16
4 Carlisle Boro Tax Authority (170 W. Pomfret St. property)
980.81
5 Carlisle Boro Tax Authority (personal tax)
4.90
6, Continuing Care RX
1,600.86
7 Continuing Care RX
615.93
8, Harry E. Killian, tax collector (East Creek Rd. property)
17.12
9 Harry E. Killian, tax collector (Fox Hill Rd. property)
304.55
10 Michael Hofnagle, work at 170 Pomfret St., Carlisle, PA
550.00
1'1 Michael Hofnagle, work at 170 Pomfret St., Carlisle, PA
449.55
12 PA Dept. of Revenue, tax due 2006
418.00
1:3 PPL Electric Utilities
34.01
14 Preparation of tax returns
140.00
1:5 UGI - heating bill
737.97
16 UGI- service call
75.00
1 '7 West Shore EMS
219.96
Total of Continuation Schedule
See attached page
TOTAL (Also enter on Line 10, Recapitulation)
6,324.62
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule I (Rev. 6-98)
REV-1513 EX+ (9~O)
ESTATE OF
NUMBER
I.
.
SCHEDULE ..
BENEFICIARIES
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
LaRocca, Eugene W. Sr.
NAME AND ADDRESS OF
PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS [include outright spousal
aistributions, and transfers
under Sec. 9116(a)(1.2)]
FILE NUMBER
21-07 -0157
SHARE OF ESTATE AMOUNT OF ESTATE
(Words) ($$$)
RELATIONSHIP TO
DECEDENT
Do Not List Trustee(s)
1
Juliet N. Donnelly
170549 Brechin Way
Silver Spring, MD 20901
125,629.55
Daughter
1/6 of the
Residue.
2
Eugene W. LaRocca Jr.
415 Lincoln St., Apt. A
Carlisle, PA 17013
235,629.54
Son
1/6 of the
Residue.
3
Mark D. LaRocca
503 West North St
Carlisle, PA 17013
Son
1/6 of the
Residue.
235,629.54
4
Robert N. LaRocca
P.O. Box 251
Knox, PA 16232
235,629.54
Son
1/6 of the
Residue.
5
Lisa A. McCarren
415 Lincoln Street
Carlisle, PA 17013
95,629.54
Daughter
1/6 of the
Residue.
See continuation schedule attached Continuation 235,629.54
Total 1,163,777.25
Enter dollar amounts for distributions shown above on lines 15 through 18, as appropriate, on Rev 1500 cover sheet
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT
BEING MADE
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET
0.00
Copyright (c) 2002 form software only The Lackner Group, Inc.
Form PA-1500 Schedule J (Rev. 6-98)
SCHEDULE ~
BENEFICIARIES
(Part I, Taxable Distributions)
ESTATE OF:
Eugene W. LaRocca Sr. 176-32-6320 02/09/2007
Item Name and Address of Person(s) Share of Estate Amount of Estate
Number Receiving Property Relationship (Words) ($$$)
6 Mary J. Staszko
2141 Walnut Bottom Road
Carlisle, PA 17015
Daughter
1/6 of the Residue.
235,629.54
Total 235,629.54
1
LAST WILL AND TESTAMEb7
OF
EUGElv"E W. LaROCCA
:, EUGENE 'N. LaROCCA, of 170 West Pomfret Street, Carlisle,
Cumberland County, Penm;yivania, being of sound and disposing mind, memory and
understanding, do make, publish and declare this as and for my Last Will and Testament,
hereby revoking and making void any and all former Wills, Codicils, or writings in the
nature theree:', by me at any time heretofore made.
F!RST:
I hereby order and direct my Executrix or Executor,
hereinafter named, to pay all my just debts, funeral expenses, testamentary exper;ses
and all Inheritance, Estate, Transfer and Succession Taxes, as soon as may be
conveniently done after my death, out of my residuary estate.
SECOND: I have six children, EUGENE W. LaROCCA, JR., MARK D.
LaROCCA, JULIET N. DONNELLY, ROBERT N. LaROCCA, MARY J. STASZKO, and
LISA A. McCARREN. I wish a/l of my children, so far as is possible, to benefit equally
from the assets which my wife and I acquired during our iife::tjmes. I am mindful that my
wife left real estate to our daughter, LISA A. McCARREN, which I deem to have a value
of $140,000.00. I am also mindful that my wife and! gave funds to our daughter, JULIET
N. DONNELLY, in the approximate amount of $110,000.00 during our lifetimes. i wish
my Executor to deem these two gifts to be advancements, and that they be taken into
account by subtracting the aforesaid sums from the shares of my aforesaid children in my
estate.
THIRD: Except to the extent that I have indicated that certain children
are to receive certain tangible personal property from my estate by a letter attached to
this Will, my children may choose such items of tangible personal property from my estate
as they wish, drawing lots to determine the order of choice, and each choosing one item
in turn until no more items are desired. The value of any items of personal property so
chosen, as indicated by the appraisal of my personal property, shall be utilized to adjust
and equalize the monetary values of each of the shares of my children, subject to the
advancements discussed above.
FOURTH: I give all of the rest, residue and remainder of my estate to my
children, EUGENE W. LaROCCA, JR., MARK D. LaROCCA, JULIET N. DONNELLY,
ROBERT N. LaROCCA, MARY J. STASZKO, and LISA A. McCARREN, in equal
shares, per stirpes, subject to reduction by the aforesaid gifts which I direct my Executors
to deem to be advancements. Should the aforesaid advancements exceed the value of
the net estate to which said child is entitled, I direct that the aforesaid child shall not
receive any funds from my estate, but neither shall she be required to pay to my estate or
to my other heirs, the amount by which the advancement exceeds said child's share of
the estate.
FIFTH: If any of my aforesaid children shall contest this Last Will
and Testament, or object to or oppose the probate thereof, or take any proceedings
before any court to annul any provision thereof, or have any provision thereof declared
voiid, then and in any such event, I direct that all of said child's interest under this Last
Will and Testament as a beneficiary shall cease and become void, and if said child
shall be successful in a court of final jurisdiction, the sum of propeliy or benefit to which
2
said child would have received under this Last Will and Testament shall be distributed
to my other children, per stirpes.
SIXTH: I have served in the Armed Forces of the United States.
Therefore, I direct my Personal Representative to consult with a legal Assistance
Attorney at the nearest military installation and with the Department of Veterans Affairs
and the Social Security Administration to ascertain if there are any benefits to which my
family members are entitled by virtue of my military service.
SEVENTH: I may leave a letter of intent with the executed copy of this
Will for the purpose of giving guidance to my Personal R_epresentative concerning the
distribution or sale of certain items of my property. I request, but do not require, that my
Personal Representative honor my wishes therein expressed.
EIGHTH:
if any beneficiary to any share of my estate which is not
subject to the provisions of any trust which may be created by this 'Will is at the time of
distribution of his or her share, a minor under the laws of his or her domicile, I direct
that the minor's share be converted into qualifying property and delivered to the minor's
Guardian as Custodian for the minor under the Uniform Gifts to Minors Act or the
Uniform Transfers to Minors Act as may then be in effect in either the state in which the
beneficiary or the Custodian resides, or any other state of competent jurisdiction.
A. The Uniform Gifts to Minors Act or The Uniform Transfers to Minors
Act, as may then be in effect in the state concerned, is hereby incorporated by
reference. The property affected by the Act shall be managed, held, and distributed in
accordance with the provisions of the Act.
3
B. The financial custodian will serve without bond or surety and
without intervention of any court, except as required by law.
C. The receipt by the Custodian, for the minor, of any principal or
income transferred pursuant to this paragraph shall be a full acquittance and discharge
of my Personal Representative or Trustee, as applicable, from liability with respect to
such transfer and from further accountability for the principal or income so transferred.
LASTL Y:
I nominate, constitute and appoint my children, EUGENE W.
LaROCCA, JR., MARK D. LaROCCA and JULIET N. DONNELLY, to serve jointly as
Co-Executors of this my Last Will and Testament. Should any of them be unable to so
serve, the child or children remaining may so serve with full authority. No Executor shall
be required to file bond in this or any other jurisdiction.
IN WITNESS WHEREQf, I have hereunto set my hand and seal this
I r \\~
Piled!. day of /-\;j '~;_ .2002,
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Eugene W. LaRocca
SIGNED, SEALED, PUBLISHED and
DECLARED in the presence of:
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4
COMMONWEALTH OF PENNSYLVANIA
ss
COUNTY OF CUMBERLAND
I, EUGENE W. LaROCCA, Testator, whose name is signed to the attached
or foregoing instrument, having been duly qualified according to law, do hereby
acknowledge that I signed and executed the instrument as my Last Will; that I signed it
willingly; and that I signed it as my free and voluntary act for the purposes therein
expressed.
Swom Of affirm<;<j to 1 acknOWled~
LaROCCA, the Testator, this !!:;,...~ 0 day of \, _
EUGENE W.
,2002.
.._-~,-
--#---"'~
, Eugene W. LaRocca, Testator
NOTA~IA.l SEAL
RE~I:E l. MURRAY. Notary Public
Carlisle Bora, Cumberland Co PA
My Commission Expires December'; 3,2005
5
COMMONWEALTH OF PENNSYLVANIA
ss
COUNTY OF CUMBERLAND
We, James D. Flower, Jr. and Sharon Simpson
the witnesses whose names are signed to the attached or foregoing instrument, being
duly qualified according to law, do depose and say that we were present and saw
Testator sign and execute the instrument as his Last Will; that he signed willingly and that
he executed it as his free and voluntary act for the purposes therein expressed; that each
of us in the hearing and sight of the Testator signed the Will as witnesses; and that to the
best of our knowledge the Testator was at that time 18 or more years of age, of sound
mind and under no constraint or undue influence.
Sworn or affirmed to and subscribed to before me byJ ames D. Flower, Jr.
and
Sharon Simpson
this 2nd
day of
July
2002.
~\ . ,/et ~' r, '" ~ ~.. -~., I. ,. r . "'~
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Witness '\
NOTARIAL SEAL
RENEE L. MURRAY, Notary Public
Carlisle Bora, Cumberland Co.. PA
, My Commission Expires December 13, 2005
6
S. W. Barrett Real Estate & Appraisal Services
Fie No. 07-0188
APPRAISAL OF
LOCATED AT:
170 West Pomfret Street
Carlisle, PA 17013
FOR:
Saidis, Flower & Lindsay
26 West High Street
Carlisle, PA 17013
BORROWER:
Eugene W. LAROCCA (Estate)
AS OF:
February 9, 2007
BY:
Cassandra J. Crockett
Certified Residential Appraiser
S. W. Barrett Real Estate & Appraisal Services
File No. 07-0188
015/21/2007
Saidis, Flower & Lindsay
26 West High Street
Carlisle, PA 17013
File Number: 07-0188
In accordance with your request: I have appraised the real property at:
170 West Pomfret Street
Carlisle, PA 17013
The purpose of this appraisal is to develop an opinion of the market vaiue of the subject property, as improved.
The property rights appraised are the fee simpie interest in the site and improvements.
In my opinion, the market value of the property as of February 9, 2007
Is:
$215,000
Two Hundred Fifteen 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,
~?~
Certified Residential Appraiser
Prooertv Descrlptlo,n -
Prooertv Address 170 West Pam fret Street Citv Carlisle Slale PA LJoCode 17013
Legal Desa-i lion Deed Baak 23-T' Page 950 Countv Cum berland
Assessor's Parcel No. 04-21-0320-193 Tax Year 06/07 R.E Taxes $ 3371.00 Soecial Assessments $ N/A
Borrower Eugene W. LAROCCA tEstatel Current Owner Eugene W. Laracca Occuoant: r l Owner r Xl Tenant r l Vacant
" PropertY riahts aooralSed I X I Fee Simple I I Leasehold I Pro ect T VDe rl PUD I I Condominium (HUDNA onlVI HOA$ N/A IMo.
Neiahborhood or Proleci Name Barauah Map Reference 21-0320 Census Tracl 0124.00
Sale Price $ N/A Date of Sale N/A Desa-iption and $ amount of ioan charaes/concessions to be Daid bv seller N/A
LenderlClient Saidis Flawer & Lindsay Address 26 West Hiah Street Carlisle PA 17013
ApDraiser Cassandra J. Crackett Address 126 Narth Hanaver Street Carlisle PA 17013
Location ~J Urban ~ Suburban 0 Rural Predominant Single family housing Present land use % Land use chango
Built up lRJ Over 75% o 25.75% 0 Under 25% occupancy PRICE AGE One family ~ 00 Nat likely o Likely
11000) (yrs)
Growth rate [J Rapid 00 Stable o Slow 00 Owner ~Low~ 2-4 family ~ o In process
Property values lRJ Ina-e asing o Stable o Declining o Tenant 500+ Hioh 100 Mult>family ~ To:
Demand/supply [J Shortage 00 In baOlnoe 0 OvE<supp~ 00 Vacant (().5%) Predominant Commercial 10%
Marketino time rl Under 3 mos. iX1 3.6 mos. n Over 6 mos. n Var...;:mt over5% 250 I 80 Instit'1 ) 10%
Noto: Raco and tho racial composition of tho noighborhood aro not appraisal factors.
Neighborhood boundanes and characteristics: Subiect is baunded an the narth by Rt.11/641' an the east and sauth bv 1-81' and an the
. west by Orange Street.
.
. Factors thai affect the marketability of the properties in the neighborhood (proximity to empioyment and amenities, employmenl stability, appeal to market, etc.):
. Subject oraoertv is lacated in an established neiohbarhaad .of hames bath detached and attached with a mix .of residential
" and cammercial usaae. Shaooina and ather amenities are within walkina .or shart drivina distance. Dickinsan CalleGe
camous and community library are within .one black. Schaal system is Carlisle Distict and lacal elementarv schaal is within .5
mile. SMSA 42:-3240.
Market conditions in the subject neighborhood (including support for the above conclusions relaled to the trend of property values, demand/supply, and marketing time
.. such as data on competitive properties for sale in Ihe neighborhood, description of the prevalence of sales and financing concessions, etc.):
Praoertv values are currently stable with an average marketino time of 80-100 days. Ecanamic trends and lendina rates have
remained favarable. Sales cancessians .occur infreauentlv. There are new hames under canstructian in surraundina
develapments as well as resales available in the neighbarhaad.
. Project Information for PUDs (if applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? DYES DNa
Approximate total number of units in the subjecl project N/A Approximate total number of units for sale in the subject project N/A
Describe common elements and recreational facilities: N/A
Dimensions See legal descriptian/tax map Topography Basicallv Level
Site area 0.11 A,cre M/L Comer Lot U Yes IKJ No Size Tvoical far area
Specific zoning classification and description R-4 Tawn Center Residential Shape RectanGular
Zoning compliance 00 Legal 000 Legal nOnoonnin9 (Grandfathered use) Olllegai o No zoning Drainage ADDears adeauate
Hiohest & besl use as improved: X Present use Other use (exDlain) View Resi denti a III nstituti ana I
Utilities Public Other Off.slto Improvements Type Public Privale Landscaping Tvoical
Eiectricity [~200 amp Street Asphalt 00 0 Driveway Surface N/A
Gas [~ Curb/gutter Cancrete 00 0 Apparent easements Nane Aooarent
Water [~ Sidewalk Can crete 00 0 FEMA Special Flood Hazard Area DYes 00 No
Sanitary sewer f~ Street lights Adequate ~ R FEMA Zone C Map Date 2/3/1982
Storm sewer AIIev Nane FEMA MaD No. 425382A
Comments (apparent adverse easements, encroachments, special assessments. slide areas, illegal or legal nonconforming zoning, use, etc.): There are na
apparent adverse easements encraachments .or other adverse canditians.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATiON BASEMENT INSULATION
No. of Units One Foundation Stane Slab Nane Area SqH 1260 Roof 0
No. of Stories Twa Exterior Walls BricklVinyl CJ'a<M Space Partial % Finished 0% Ceiling -0
Type (Det./Att.) Detached Roof Surface Metal Basement Full Ceiling Unfinished Walls -0
Design (Style) 2 Starv Gutters & Dwnspts. Galvanized Sump Pump Flaar Drain Walls Stane Floor -0
Existing/Proposed Existina Window Type DblHno/AvG Dampness Nane Obs. Floor Cane/Earth None -00
Age (Yrs.) 100 Yrs+/- Storm/Sa-eens Yes' Settlement Nane Obs. Outside Enby Yes . Unknown ==0
Effective Aoe (Yrs.) 20-25 Manufactured House Na Infestation Nane Obs. 'anta oarch
. ROOMS FClVer Livlno Dinino Kitchen Den Famil Rm. Rec. Rm. Bedrooms # Baths Laundrv Olher Area Sn.Ft.
Basement Area 0
Level 1 Area 1 1 1 Parlaur Naak" 1 392
. Level 2 3 2 1260
.
Rnished area above orade contains: 6 Rooms; 3 Bedroom s); 2 Bathls); 2 652 Souare Feet of Gross L1vino Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Floors HW/CarpNinyl/Avc Type BBHW Refrigerator 0 None 0 Fireplace(s)# _ 0 None 00
. Walls Plaster/Avg Fuel Gas RangelOven 00 Stairs 00 Patio Cancrete 00 Garage #ofcars
Trim/Finish Woad/AvQ ConditkmGaad Disposal 00 Drop Stair 0 Deck 0 Attached
Bath Floor Vinyl/Avg COOliNG Dishwasher 00 Scuttle 0 Porch 7 X 30 00 Detached
Bath Wainscot Tile/Fbrgls/Avg/Gd Central Nane Fan/Hood 00 Floor 00 Fence WaadlWire 00 Built.ln
Do()(s Wooden/Avg Other Nane Microwave R Heated R Pool ~ Carport
Average Canditian CondITion N/ A Washer/Dryer Finished Enclased Parch Drivewav
Additional features (special energy efficient items, etc.): See Attached Addendum.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction remodeling/additions, etc.: ImDrave
ments are in average canditian with na functional inadequacies aooarent. Naak .off kitchen beinQ renavated at time .of
insoection.
.
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 Ihe subject property: Na adverse enviranmental canditions are aooarentldisclased.
SUMMARY APPRAISAL REPORT
UNIFORM RESIDENTIAL APPRAISAL REPORT
File No 07 0188
Freddie Mac Form 10 6-93
PAGE 1 OF 2
PrO<l\lCedusing ACIsollwara,BOD.234.8T27w.vw.aciweo.com
Fannia Mae FOfm 1004 6-93
ADDENDUM
Borrower: Eugene W. LAROCCA (Estate)
Property Address 170 West Pomlret Street
City: Carlisle
lender: Saidis, Flower & Lindsay
File No.: 07-0188
Case No.:
State: PA
Zip: 17013
Additional Features
Period home In average condition with original woodwork, bullt~insl fixtures, staircase wraps to 3rd floor; .some Insulated replacement windows added
on first floor; - nook off kitchen Is currently being renovated; ceramic tile In baths; hardwood flooring with carpeting in some rooms; kitchen previously
modernized; enclosed porch on 2nd floor with vinyl exterior; entry foyer; mantels In several rooms, no funtionlng flues; electric service, heating unit,
and hot water heater recently replaced; frame storage shed in fair condition; fenced yard, wrought Iron gate; on street parking only.
Addendum Page 1 of 1
Valuation Section
SUMMARY APPRAISAL REPORT
UNIFORM RESIDENTIAL APPRAISAL REPORT
File No. 07-0188
ESTIMATED SITE VALUE. . = $ 40 000 Commenls on Cost Approach (such as, source of cosl estimate,
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: site value, square fool calculation and for HUD, VA and FmHA, the
Dwelling__Sq.Ft @$_ = $ estimated remaining economic life of the property):
Sq.Ft.@$_ = Cost Approach [from Marshall/Swift Valuation Service
. = handbook and local cost analysis1 was considered but
Garage/Carper! Sq.Ft @$_ = deemed not credible due to the age of the
--
T alai Estimated Cost New . 1'1 = $ improvements. Site value from Market Data.
Less Physical I FUn~1I0nal External Est Remaining Econ. Life: Depreciation based on ageflife observed condition and
. Depredation = $ Market Data Analysis. Estimated remainina Economic
Depredaled Value of Improvements . . = $ Life is 35-40 years.
"As-Is" Value of Site Improvements = $
INDICATED VALUE BY COST APPROACH. . . = $ N/A
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
170 West Pomfret Street 150 West Pomfret Street 235 South Pitt Street 259 West Pom fret Street
Address Carlisle Carlisle Carlisle Carlisle
Proximity to Subject 0.03 MI E 0.18 MI SSE 0.10 MI W
Sales Price $ N/A $ 199 900 $ 190 000 $ 230 000
PnceIGross Liv. kea $ 0.00 iZI $ 91.03 iZI " $ 103.71 iZI $ 83.39 iZI .'
Data andlor Inspection Appraiser's data Appraiser's data Appraiser's data
Verification Sources Crt.Hs.Records MLS/Courthouse Records MLS/Courthouse Records MLS/Courthouse Records
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I ;.(-) $ Adlustmenl DESCRIPTION I t(-lSAdjustment DESCRIPTION I +(.)$ Adjustment
Sales or Flnandng N/A None, Conv None, Conv None, Conv
Concessions .... DOM 8 DOM 15 DOM 29
Dale of SaleiTIme N/A 7/06 : 12/06 : 7/06 :
Location Suburban/Good Suburban/Good Suburban/Good Suburban/Good
Leaseirl1JFee SimIe Fee Simple Fee Simple Fee Simple Fee Simple
Site LotlAvg 1.111 LotlAva 1.08] : Loti A va 1.24] : Loti A vg r.08] :
View Residential Residential Residential : Residential
Desiqn and ADDeal 2 Storv/Detchd. 2.5 Stv/SemiDet : 2 Storv/SemiDet : 2 Storv/SemiDet :
0UaIitv of ConsIrudr:ln Ava/BricklVinvl Ava/Brick : Ava/Brick : AVQ/Brick :
Aqe 100 Yrs+/- 100 Yrs+/- 100 Yrs+/- : 100 Yrs+/- :
Condition Average Average : Inferior [5%1 : 10 000 Superior 1-3%1: -7 500
Above Grade Total: Bdrms I Baths Total: Bdrms I Baths : Total: Bdrms I Balhs : Total: Bdrms ' Baths :
Room Count 3! 6: 3: 2.00 8: 3: 1.50 : 1,000 7: 4: 1.50 : 1,000 9: 4: 1F/2H' 0
Gross Livinq kea 2 652 SQFt. 2196 SqFt. 16 000 1,832 SQ.Ft. : 28 700 2 758 SqH : -3,700
Basemenl & Finished Full Bsmtl Full Bsmtl , Full Bsmtl Full Bsmtl
.
Rooms Below Grade Unfinished Unfinished Unfinished Unfinished
Functional Utility Average Average AveraQe Averaae
Heatinq/Coclinq GHW/None GFHA/CA : -2,000 OHW/None : OFHA/None :
. Enemv Effident Items Typical Tvoical Tvpical Typical
Garaqe/Carport On street prkg 1 Car GaraQe -5000 3 Car Gar/OSP -15000 1 Car Garaae -5,000
Porch, Patio, Deck, Enclsd.Porchl Porches/FPI 0 Porch/Fencing 2,000 Porches/ 1,000
Fireplace(s), etc. Courtyrd/Fnca Courtvrd/Fncg Courtvrd/Fncg ,
Fence, Pool, etc. None None : None None
: : :
Net Ad'.ltotall " Ixl + I ]- :$ 10 000 [xl + r 1- :$ 26 700 I 1+ Ixl- :$ 15 200
Adjusted Sales Prioe ....... Gross: 12.0./~ Gross: 29.8% Gross: 7.5%
of Comparable .... ............ Net: 5:0% $ 209 900 Nel: 14.1% $ 216,700 Net: -6;6% $ 214 800
Comments on Sales Comparison (including the subject properly's compatibility to the neighborhood, etc. ): All com parables are similar in utilitv and
location to the subject prooertv. are verified closed sales and are the best currentlv available. Limited sales of period homes
within the Borough have recentlv occurred reauirinQ an expanded search. Fourth detached sale added from a similar
neiQhborhood as additional data. Adiusted ranae of value is $196.000 to $217 000.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data
Souroe for prior sales None None None None
within vear of aporaisal Courthouse Rec Courthouse Records Courthouse Rec Courthouse Records
Analysis 01 any CUfTElnt agreement of sale, option, or listing 01 the subjecI property and analysis of any prior sales of subject and oomparables within one year of the date 01 appraisal:
No further recent recorded transfers were found.
INDICAlED VALUE BY SALES COMPARISON APPROACH. .. .. . ""'" . ......... , .......$ 210,000
. tNDICATED VALUE BY INCOME APPROACH {If Aoollcable\ Estimated Market Rent $ N/ A IMe. x Gross Rent Multiplier NI A = $ N/ A
This appraisal Is made . ~ "as Is" 0 subject to the repars, alterations, Inspections or conditions listed beklw U subject to oompletion per plans and sped1ications.
Conditions 01 Appralsai: The property has been appraised in current condition. This appraisal is for client onlv. nontransferable. See
attached addendum.
Final Reconciliation: Market Analysis consistentlv suooorts my estimated market value. Cost Approach and GRM analvsis were
found inappropriate for this analvsis. Greatest weight is applied to the Market Data Analysis. SupportinQ file information
. substantiates these estimates.
The purpose of this appraisal is to estimate the market value of the real property that is the subject 01 this report, based on the above conditions and the certffication, contingent
and limiting condillons, and market value definition that are stated in the attached Freddie Mac Fonm 43gIFannle Mae Fonm 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 02/09/2007
. (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPOR~21~~ .
APPRAISER:? ~ fl t2 ~ SUP. ;:gORY APP IS (fN ~Ew.o): ODid OODld Not
Signature (,." ,,"- ~<< A'l 1:;7 .' A--<'" i/:=- Signa
Name Cassandra J. Crockett Name Steven W. Barrett, SRPA, SRA inspect Property
Date Report Siqned 05/21/2007 Date ReDor! Siqned 05/21/2007
State Certification # RL-001348-L Stale PA State Certification # GA-000298-L Stafe PA
Or State License # State Or State License # RB-026921-A State PA
f''''..M"f"",,70 6.93 l;ertltiect ReslctenlJal PAGE20F 2 l;ertmea l:Ieneral AppraISer foom. M" fa'm 1004 6.93
Appraiser
Pfodutedusil)gAClsollwar6.BOO.2J4.B727W'/r'W.aciweb.1:llITI
S.W. Barrett Real Estate & Appraisal Services
v
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SUMMARY APPRAISAL REPORT
UNIFORM RESIDENTIAL APPRAISAL REPORT
F" N 07 0188
SUDolemental aluatlon ec Ion Ie 0, -
ITEM SUBJECT COMPARABLE NO.4 COMPARABLE NO.5 COMPARABLE NO.6
170 West Pom fret Street 535 Highland Avenue
Address Carlisle Carlisle
Proximity to SUbject ..... 0.59 MI SE
Sales Price $ N/A $ 190 000 $ . . $
Price/G'oss Liv. Area $ 0.00 (Z'] $ 66.97 (Z'] $ (Z'] $ lZ1
Data and/or Inspection
Verification Sources Crt.Hs.Records MLS/Courthouse Records
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I +{-}$Adjusimanl DESCRIPTION I + (-) $ Ad)lJslment DESCRIPTION I +(-)SAdjustl'llent
Sales or Financing N/A None, Conv
Concessions '.' DOM 38
Dale of Salem"", N/A 7/06 : : :
Location Suburban/Good Suburban/Good
Leasetrofee SITl>Ie Fee Simole Fee Simole
Site Lot/Ava 1.111 Lat/Avll [.14] : :
View Residential Resid/Creek
DesiGn and ADoeal 2 StorvlDetchd. 2 Storv/Detchd.
Quaitv ofCmstrucfun Avg/BrickIVinvl Ava/Alum/Frm : 15000 : :
AGe 100 Yrs+l- 72 Yrs
Condition Averaae Averaae :
Above Grade lolal: Bdrms ' Bilth~ Total I Bdrms I Baths : TOlal I Bdrrns I Baths : Tolal: Bdrms ' Baths :
Room Count 6: 3: 2.00 8: 5: 2.00 : : : : :
Gross Living Area 2 652 SD.Ft. 2 837 Sq.Ft. : -6 500 Sq.Ft. : SQH ,
. Basement & Finished Full BsmU Partial BsmU 1,000
Rooms Below G'ade Unfinished Unfinished
FunctiGnal UDlitv Averaae Averaae :
. HeatinG/Coolino GHW/None OHW/None :
EnerGv Efficient Items Typical Tvoical
GaraQe/Carporl On street orka 1 C Intgrl Gar. -4 000 :
Porch, Patio, Deck, Enclsd.Porchl Porches/FP 1,000
Fireo/acels), etc. Courtvrd/Fnca
Fence, Pool, etc. None None :
: : :
Net Ad!. ltotall lx/ + I I. : $ 6500 IXI + I I. : $ Ixl + I I. :$
Adjusted Sales Price Gross: 14.5% Gross: Gross: . .:
01 Comoarable Net: 3.4% $ 196 500 Net: $ Net: $
Comments on Sales Comparison (including Ihe subject property's compatibility to the neighborhood, etc. ):
ITEM SUBJECT COMPARABLE NO.4 COMPARABLE NO.5 COMPARABLE NO.6
Date, Price and Data
Source for prior sales None None
.,;thin vea of aooraisal Courthouse Rec Courthouse Records
Analysis of any current agreement of sale, option, or listing 01 the subject property and analysis 01 any prior saies 01 subject and campaables within one yea 01 the date of aporaisal:
.
.
.
.
ProdUCed using ACI sollwwB,IlOO.234.8727 www.lciweb.oom
SKETCH/AREA TABLE ADDENDUM
Case No
Property Address 1 iO West Pomfret Street
City Carlisle
Borrower EUQene W. LAROCCA (Estate)
lenderiClient Said is, Flower & Lindsay
Appraiser Name Cassandra J. Crockett
Comments:
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County Cumberland
State PA
File No Oi -0188
Zip 17013
UC Address 26 West High Street, Carlisle, PA 17013
Appr Address
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Bedroom
B~lh
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AREA CALCULATIONS SUMMARY
De$cripUon Size Totals
Fixst Floor 1392.00
Second Floor 1260 ~ 00 2652.00
Pot"ch 210.00
EJ1;:;:los~ Porch ~U'u. vi) -l2u.uu
storage Shed 48.00 48.00
TOTAL LIVABLE
(rounded)
APEX SOF1WARE 8{l0.a5lUlQSB
7.0' 5.0'
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Panour
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Scala: 1 = 15
LIVING AREA BREAKDOWN
Breakdown Subtotals
First Floor
!l.a x 12.0 132. DO
17.0 " 60.0 1020.00
E..v " 30,0 240.00
Second Floor
17.0 x 60.0 :1.020.00
iI,y' >i :;f.LQ HO.o~
5 Areas Total (rounded)
2652
Ap~101)..wAp~x11
Borrower Eugene W. LAROCCA (Estate)
Property Address 170 West Pomfret street
CIl'{ c",li~Le.
Lender Saidis, Flower & Lindsa
State PA~_~
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File No.: 07-0188
Case No.:
Zip: 17013
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FRONT VIEW OF
SUBJEct PROPERTY
Appraised Date: May 8, 2007
Appraised Value: $
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
I BOiTOWel: Eugen.. W. LAROCCA (Estate)
Properly Address: 170 West Pomfret Street
City C"r1isl~
Lender Said is, Flower & Lindsa
State PA
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File No.: 07-0188
Case No.:
Zip: 17013
jBu..rruW.Her. E U9.en..". W. LAROCCA (Estate)
Property Address. 170 West Pomfret Street
git~ C~rlisl., .
[ Lender. Said is, Flower & Lindsa
File No.. 07-0188
Case No..
State PA Zip: 17013
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COMPARABLE SALE #1
150 West Pomfret Street
Carlisle
Sale Date. 7/06
Sale Price. $ 199,900
COMPARABLE SALE #2
235 South Pitt Street
Carlisle
Sale Date. 12/06
Sale Price: $ 190,000
COMPARABLE SALE #3
259 West Pomfret Street
Carlisle
Sale Date. 7/06
Sale Price: $ 230,000
....-.... ...................--.... . ...-. -.... . . ..-. - ........---.............
Borrower: Eugene W. LAROCCA (Estate)
Property Address: 170 West Pomfret Street
City: Carlisle
Lender: Saidis Flower & Lindsav
File No.: 07-0188
Case t~o.:
State: PA Zip: 17013
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COMPARABLE SALE #4
535 Highland Avenue
Carlisle
Sale Date: 7/06
Sale Price: $ 190,000
COMPARABL~ SALE #5
Sale Date:
Sale Price: $
COMPARABLE SALE #6
Sale Date:
Sale Price: $
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LOCATION MAP
Borrower: Eugene W. LAROCCA (Estate)
Property Address: 170 West Pomfret Street
City: Carlisle
Lender: Saidis Flower & Lindsa
File No,: 07-0188
Case No,:
State: PA
Zip: 17013
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MAPC01984-2004 TELE ATLAS NA. INC Scale:
Prepared by. Steven W. Barrett RE. Appr. Svc, (717) 243-5646
10 Address Date Price RM BR Bath SqFt Proximity
S 170 W POMFRET ST N/A N/A 6 3 2 2652 0.00 WI
1 150 W POMFRET ST 7/06 199900 8 3 1.5 2196 0,03 MI E
2 235 S PITT ST 12/06 190000 7 4 1.5 1832 o .1S WI SSE
3 259 II POMFRET ST 7/06 230000 9 4 1F/2H 2758 0.10 MI 1i1
4 535 HIGHLAND AY 7/05 190000 8 5 2 2837 0,59 WI 5E
FileNo 07-0188
********* QUALlFICA liONS *********
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
neighborhclods.
_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.
_x_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.
_x_10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a
health or safety hazard.
_11. The subject property does contain functional obsolescence as noted in the report. This condition is
considered typical and common for the area and this style dwelling.
_12. The land value exceeds 30% of total value due to the high demand for vacant land in this neighborhood. This
condition is considered common and typical for the neighborhood.
_13. The land value exceeds 30% of total value. This is due to the large size of the site. This condition is
considered to be typical and common.
_x_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.
_x_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 th'e best available.
_17. 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 com parables used are located in similar neighborhoods and within the same
marketing a,rea. 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_Plum bing_Electrical_Heating_certification(s) is/are suggested.
22. Ingmund swimming pool_. out buildings_are included_,not included_according to lender's
guidelines.
_23. According to lender's guidelines a maximum of_acres were considered for this valuation. Remaining
acreage was given no value.
File No 07-0188
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********* QUALIFICATIONS *********
_24. The subject property is located on a private road.
_25. Wood infestation inspection is suggested.
_26. La'5t recorded deed transfer: Date_N/A
, Consideration: $_N/A_.
_27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like
manner.
_28. Seiller is paying part or all of closing costs.
_x_29. All comparable sales are verified closed sales.
_x_3D. Thl~re are no special conditions or other requirements that would affect market value or future marketability in
the Apprai 5al Report.
CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING
INSPECTION.
File No. 07-0188
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 prudentiy, knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal
consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the
sale.
. Adjustments to the com parables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the
seller pays Ihese costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property
by compari~,ons 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 calcuiated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment shouid 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 con,jitlons:
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
arrangement,. 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 presenoe 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 wer,s 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 fincmcial 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 Gan be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
Freddie Mac Form 439 6-93
Page 1 of2
Fannie Mae Form 1004B 6-93
File No. 07 -0188
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 comparabie 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 01' 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 r'sport. 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 andlor the
estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the
prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the
subject property
5. i have no present or contemplated future interest in the subject property, and neither my current or future employment nor my
compensation for performing this appraisai is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in ~alue that favors the Gause 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 ioan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisai Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal,
with the excl~ption of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonabie
time for exposure in the open market is a condition in the definition of market ~alue and the estimate I deveioped 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 com parables
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 effeGt of the adverse conditions on the marketability of the subject property.
9. I personally prepared all conclusions and opinions about the reai 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 havEI named such individuai(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: 170 West Pomfret Street, Carlisle, PA 17013
SUPERVISORY APPRAISER (only ifrequired)
Signature: ~~V --ff-
Name: Steven W. Barrett, SRPA, SRA
Date Signed: OS/21/2007
State Certification #: GA-000298-L
or State License #: RB-026921-A
State: PA
Expiration Date of Certification or License: 06/30/2001
APPRAISER:
Signature: -11-.J.~L .~ ~klf-
Name: Cassandra J. Crockett (;
Date Signed: 95/21/2007
State Certification #: RL-001348-L
or State License #:
State: PA
Expiration Date of Certification or License: 06/30/2007
o Did 00 Did Not Inspect Property
Certified Residential Appraiser
Freddie Mac Form 439 6.93
Certified General Appraiser
Page 2 of2
Fannie Mae Form 10048 6-93
S. W. Barrett Real Estate & Appraisal Services
SUMMARY REPORT
Fie No. 07-0190
APPRAISAL OF
LOCATED AT:
273 Fox Hill Road
Newburg, PA 17240
FOR:
Saidis, Flower & Lindsay
26 West High Street
Carlisle, PA 17013
BORROWER:
Eugene W. LAROCCA (Estate)
AS OF:
February 9, 2007
BY:
Cassandra J. Crockett
Certified Residential Appraiser
S. W. Barrett Real Estate & Appraisal Services
SUMMARY REPORT
File No. 07-0190
01'/24/2007
SOIidis, Flower & Lindsay
26 West High Street
Cllrlisle, PA 17013
Fil" Number: 07-0190
In accordance with your request, I have appraised the real property at:
273 Fox Hill Road
Newburg, PA 17240
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 illY opinion, the market value of the property as of February 9, 2007
is:
$700,000
Seven Hundred 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,
t~~.~
Call sandra J. Crockett
Certified Residential Appraiser
S. W.Barrett Real Estate & Appraisal Services
UNIFORM RESIDENTIAL APPRAISAL REPORT
SUMMARY REPORT
FII N 070190
ProDortv Descrlntioln e o. -
Prooertv Address 2i'3 Fox Hill Road Citv Newbura State PA Zio Code 17240
Leaal DesO'iotion Deed Book 27-P' Paae 417 Countv Cumberland
Assessors Parcel No. 11-09-0509-004 & -004A Tax Year 06107 RE. Taxes $ 896.00' Snecial Assessments $ N/A
Borrower Eunene W. LAROCCA (Estate) Current Owner Euaene W. Larocca Ocwoant: II Owner Ixl Tenant I I Vacant
.. Pronertv riohts aooraised I X I Fee Slm Ie I I Leasehold I Proiect Tvne I I PUD I I Condominium iHUDNA onlv\ HOA$ N/A /Mo.
Neiahborhood or Proiect Name Hooewell Twp Map Reference 09-0509 Census Tract 0131.01
Sale Price $ N/ A Date of Sale N/A Descrintion and $ amount of loan charaes/concessions to be naid bv seller N/A
Lender/Client Said is Flower & Lindsav Address 26 West Hiah Street Carlisle PA 17013
Aooraiser Cassandra J. Crockett Address 126 North Hanover Street Carlisle PA 17013
Location U Urban W Suburban U Rural Predominant Single family housing Present land use % land use change
Built up 0 Over 75% 00 25-75% 0 Under 25% occupancy PRICE AGE One family ~ o Not likely o Likely
1(0001 (vrs)
Growth rate 0 Rapid 00 Stable 0 Slow 00 Owner ~Low~ 2-4 lamily ~ 00 In process
Property values 00 InO'easlng 0 Stable 0 Declining o Tenant 900+ Hioh 100 Multi-family ~ To: Residential/
Demand/supply 0 Shortage 00 In balanoo 0 CMrsuppty fEi Vacant (0-5%) Predominant Commercial 10% Commercial
Marketino time n Under 3 mos. Fxi 3-6 mos. n Over 6 mos. VilCOl1I{w,erS%\ 150 I 35 Vacant 45%
Note: Race and thl~ racial composition of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics Subiect is bounded on the north by Pa.Turnoike' on the east bv Rt.233' on the south by I-
. 81' and on the west bv Rt.696.
.
. Factors that affect tr,e marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
. Subiect property is located in an expandina area of sinale familv homes and farms between Newville and Shippensbura.
.. ShoDoina and e,ther amenities are within an easY drivino distance. School system is ShiDoensburo District and students are
bused, SMSA 42-3240.
Market conditions in the subject neighborhood (including support for the above conclusions related to the trend 01 property values, demand/supply, and marketing time
_ _ such as data on competitiIJ6 properties for sale in the neighborhood, description 01 the prevalence of sales and financing concessions, etc.):
PropertY values are currentlv stable with an averaae marketina time of 80-100 days. Economic trends and lendina rates have
remained favori.ble. Sales concessions occur infreauently. There are new homes under construction in surroundina
developments .IS well as resales available in the neiahborhood.
. Project tnformatic,n for PUO. (if applicable). . Is the developer/builder in control of the Home Owners' Association (HOA)? UYES UNO
Approximate total number of units in the subject project N/A Approximate total number of units lor sale in the subject project N/A
Describe common elements and recreational facilities: N/A
Dimensions See lellal description/tax map ftwo parcels: 145 acres & 24 acres] Topography Rolling
Site area 169 Acms M/L Corner Lot U Yes ~ No Size LarQer than normal
Specific zoning classification and description Aaricultural/Flood Plain conservation Shape IrreQular
Zoning compliance C~ Legal rR Legal nonconforming (Grandfathere<:! use) 0 Illegal 0 No zoning Drainage Appears adequate
HiGhest & best use as imoroved: X Present use h Other use lexplain) View Open countrv
Utilitieo Public Other Off..site improvements Type Public Private Landscaping Tvpical
Electricity lR 200 amo Street Asphalt 00 D Driveway Sunace Gravel/Stone
Gas 0 Curb/gutter None D 0 Apparent easements None ADDarent
Water DWell Sidewalk None 0 D FEMA Speciai Flood Hazard Area DYes 00 No
Sanitary sewer RSeotic Street lights None R R FEMA Zone C Map Date 06/01/1989
Storm sewer Alley None FEMA Map No. 421581
Comments (apparent adverse easements. encroachments. special assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): See Attached
Addendum. . Sit'e is taxed in Pennsvlvania's Clean & Green oroaram for preservation of aariculturalland.
GENERAL DESCRIPTION EXTERIOR DESCRtPTION FOUNDATION BASEMENT INSULATION
No. of Units One Foundation Stone Slab None Area Sq.Ft. 672 Roof 0
No. of Stories JWo Exterior Walls Aluminum Q-aIoASpaoo None % Finished 0% Ceiling - 00
Type (Det./Att.) Detached Roof Surface Metal Basement Full Ceiling Unfinished Walls ==00
Design (Style) ~! Storv Gutters & Dwnspts. Aluminum Sump Pump None Walls Stone Fioor 0
Existing/Proposed !,xisti no Wmdow Type DblHna Dampness None 0 bs. Floor Earth None -0
Age (Yrs.) 97 Yrs StormJSO'eens Insulated SeWement None Obs. Outside Entry Yes . U.known ==0
Effective Aoe IYrs.) 15-20 Manutactured House No Infestation None Obs. 'Exoosed Basement
. ROOMS Faver Livino DininQ Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area So.Ft.
Basement
Level 1 1 Area 1 Area 672
. Level 2 3 1 672
.
Finished area above nrade contains: 5 Rooms; 3 Bedroom s\; 1 Bathls; 1 344 Square Feet of Gross Livina Area
INTERIOR Malerials/Condition HEATiNG KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Floors Carp4~Winvl/Ava Type FHA Refrigerator D None D Fireplace(s) # Hearth ~ None D
. Walls Plast,er/PaneIlAvQ Fuel Oil Range/Oven 00 Stairs 00 Patio 0 Garage # of cars
TrimJFinish Wood/Ava ConditlonAveraae Disposal 0 Drop Stair 0 Deck 0 Attached
Bath Floor Vinyl tile/Ava COOLING Dishwasher 0 ScuWe D Porch 8 x 28 00 Detached
Bath Wainscot Panel/Fbrals/Ava Central None Fan/Hood 00 Floor 00 Fence 0 Built.ln
Doors Wooden/Avo Other N/A Microwave R Heated R Pool R Carport
Average Condition Condition N/ A WasherlDrver Finished Drivewav 4/Stone
Additional features (spedal energy efficient items, etc.): . Brick hearth/wood stove; skylight on 2nd floor' modern kitchen bath' ODen frame
eQuiDment storalle shed' block well house' Dond.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction remodeling/additions, etc.: ImDrove
ments are in averaae condition with no Dhysical or functional inadequacies aDoarent.
.
Adverse environmental conditions (such as, but not limited to, halardous 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 aDParent/disclosed.
Freddie Mac Form 70 6-93
PAGE 1 OF 2
PI~O ~\09 AC\ ~oftdlll, OOO.2l4.Bl2.7 WWW.BClWeb.f;Cl(T1
Fan/lie Mall Fam 1004 6-93
ADDENDUM
Borrower: EugenE! W. LAROCCA (Estate)
Property Address: 273 Fox Hill Road
City: Newburg
Lender: Saidis, Flower & Lindsay
State: PA
File No: 07-0190
Case No.: SUMMARY REPORT
lip: 17240
Site Comments
Well/Septic common for area and have no adverse affect on marketability. There are no adverse easements, encroachments or other adverse
conditions. A p<:lrtlon of the acreage appears to be in nood plain, improvements have been built above. Abutting tracts are owned by Community
Refuse Service, line.; tocalland fill within the direct neighborhood.
Addendum Page 1 of 1
Valuation Section
S. W.Barrett Real Estate & Appraisal Services
UNIFORM RESIDENTIAL APPRAISAL REPORT
SUMMARY REPORT
File No 07-0190
ESTIMATED SITE VALUE. $4 ,QQO/acre . = $ 600 000 Comments on Cost Approach (such as, source of cost estimate,
ESTIMATED REPRODUCTION COST.NEW OF IMPROVEMENTS: site value, square foot calculation and lor HUD, VA and FmHA, the
Dwelling __ Sq. FI @$_ = $ eslimated remaining economic Itfe 01 the property):
Sq.Ft @$_ = Cost Approach [from Marshall/Swift Valuation Service
. = handbook and local cost analvsis] was considered but
Garage/Carpal Sq.FI @$_ = deemed not credible due to the aae of the
--
Total Estimated Cost New '1 . = $ imorovements. Site value from Market Data.
Less .' Physlcal'l Funellon~1 External Est. Remaining Econ. Lile' Depreciation based on aae/life observed condition and
. Depreeat"n = $ Market Data Analvsis. Estimated remainina Economic
Deprecialed Value DllmprDvements = $ Life is 35-40 Years.
"AS-IS" Value 01 SitE ImprDvements = $
INDICATED VALUE BY COST APPROACH = $ N/A
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
273 Fox Hill Road 239 Clover Hill Road 101 Brandy Run Road 34 Clugston Road
Address Hopewell-Newburll Honewell-Newburn Upper Mifflin-Newville North Newton-Newville
Proximilv to Sub eel 3.6MIW 4.9 MI NE 2.1 MI ENE
Sales Price $ N/A $ 630 000 $ 537 500 $ 380 000
PrIce/Gross Liv. Area $ 0.00 Iti $ 280.87 Iti $ 253.78 iLl $ 226.19 iLl .. ...... ..
Data and/or Inspection Multi-list
Verification Sources Crt.Hs.Records Courthouse Records Courthouse Records Courthouse Records
VAlUE ADJUSTMENTS DESCRIPTION DESCRIPTION [ -\-(-)$ A.dj\l~\mer,\ DESCRIPTION \ 1"(_)$ Ad)USlmerll DESCRIPTION \ +(-)$Adjuslmsnl
Sales or Financing N/A None, Cony None,Conv None, Cony
Concessions ...::/ DaM 135 DaM unknown DaM unknown
Date of SalelTime N/A : 2/07 : 10/05 : 35 833 1/05 : 41 167
Location Averaae Averaae Averaae Averaae
Leaserd:lfee SITp~ Fee Simnle Fee Simole : Fee Simple Fee Simole :
Site 169 Ac+/-/C&G 106 Ac+/-/C&G : 252 000 110 Ac+/-/C&G : 236 000 102 Ac+/-/C&G : 268 000
View Ooen Countrv Onen CountrY Open Country Onen CountrY
DeSlan and Aooeat 2 Story/Ava 2 Storv/Ava : 2 Storv/Ava 2 Storv/Ava :
()Jafiy of 0Jnstrudi:xl Ava/Aluminum Ava/Aluminum : AvgNinyl : Avo/Aluminum :
Aqe 97 Yrs 100 Yrs+/- 100 Yrs+/- 100 Yrs+/-
Condition Averaae Suoerior -20.000 Averaae Averaae :
Above Grade Tolal : Bam~ I Baths Talal I Bdrms ' Balhs : Tolal ' 8drms I Baths : TOlal : Bdrrns I Baths :
RDom CDunt 30 5: 3: 1.00 7: 3: 2.00 ' -2,000 7: 3: 2.00 : -2,000 5: 3: 2.00 ' -2,000
Gross Livino Area 1 344 SoH 2 243 SoH : -27 000 2,118 SoFt : -23,200 1 680 SDH : -10 100
. Basement & Finishee Full Bsmtl Partial Bsmtl Full Bsmtl Partial Bsmtl
Rooms Below Grade Earth Floor Concrete -500 Concrete -500 Earth Floor
Functional Ulililv Average Averaoe : Averalle Averaae :
Heatlno/Coolinq OFHAlNone OHW/None : OFHAlNone : OFHAlNone :
. Enarov Effieen! Items Tvnical Tvoical Typical Tvnical
Garaqe/Carport asp Caroort : -2000 asp asp
Porch, Patio, Deck, Porch/Hearth/ Porches/FP/ 0 Porches 0 Scrod. Porch/ 0
F.eolace{s\. etc Pond Stream : Hearth/Fencina
Fence, Pool, elc. Sheds 12 Outbuildinas/ : -100.000 8 Outbuildings/ -75,000 4 Outbuildinas/ -35 000
Sunerior : Superior : Suoerior :
Net Adi. (total) rxl+ Tl. '$ 1 00 500 IX + I 1- : $ 171 133 Ixl + [" 1- '$ 262.067
AdJuslee Sales PrIce Gross: 64.0% Gro~s: 69.3% Gross: 93.8%
of ComDarable ~.. -'- Net:' 16.0% $ 730 500 Net: 31.8% $ 708 633 Net: 69.0%i $ 642.067
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): All comoarables are similar in utilitv and
location to the ~iubiect propertY: are verified closed sales. and are the best currently available. Limited sales of laraer tracts
of land have rec.ently occurred in subiect's value ranoe reauirina an expanded search. Surolus aariculturalland was adiusted
at $4 OOO/acre due to the oroximitv of a land fill adiacent to the subiect site. Annual appreciation taken at 5% for sales over
one year. Adjusted range of value is $642 000 to $731 000.
ITEM " SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Dale, Price and Data 4/20/2004
Source for plio< sales None $225,000 None None
wilhin vear Df aooraisal CHR Courthouse Records Courthouse Records Courthouse Records
Analysis 01 any current agreement of sale, option. or listing of Ihe subject property and analysis of any prior sales of subject and comparables within Dne year of the date of appraisal:
No further recent recorded transfers were found.
INDICATED VALUE BY SALES COMPARISON APPROACH . .. ..., , "'" , .,... - ... , .$ 700 000
. INDICATED VALUE BY INCOME APPROACH (If Aoolicable\ Estim~;ed 'Ma;kei R~~t'$ N/A /Mo. x Gross Rent Multiolier N/A =$ N/A
This appraisal is made 00 "as is" 0 subject tD the repai;, attarations, inspections C{ conditions listed belOV/ [J subject to completion per plans and specifications.
ConditionsofAp~aisal: The propertY has been aopraised in current condition. This appraisal is for client onlv. nontransferable. See
attached addendum.
Final Reconciliation: Market Analysis consistentlv sunnorts mv oninion of market value. GRM and Cost Analvsis were found
inappropriate for this analysis. Suooortina file information substantiates these estimates.
.
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 certmcanon, contingent
and limiting conditions, and market value definition thai are slated In Ihe artached Freedie Mac Form 43gIFannie Mae Form 1004B (Revised 6/93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OFTHIS REPORT, AS OF 2/9/2007 [0001
. (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 700,000 - .
APPRAISERI1 ~ ~~ SUP~~PRA~01LY'REQUn- ODid (KJDid Not
Signature 'd./ L1A. . '-1~ i/-- Slgnat"'" --..
Name Cassandra ,). Crocke Name Steven W. Barrett, SRPA, SRA Inspect Property
Date Report Signed 7/24/2007 Date Report Signed 7/24/2007
State Certification # R L-001348-L Stale P A Stale Certification # GA-000298-L State PA
Or Stale License # State Or State License # RB-026921-A State PA
F,""i' M.o< F"", 70 ~" (;ertlllea Kesidential PAGE 2 OF 2 (;ertlfled General Appraiser "oni. M.. F"m 1004 &,g,
Appraiser
ProdllC8d llsing ACI s~ltwara, 800.234.8127 www.aciweb.com
S. W. Barrett Real Estate & Appraisal Services
Borrower: Eugene W. LAROCCA /Estate)
Property Addre5s: 273 Fox Hill Road
City: Newburg
Lender: Said is Flower & Lindsa
Bedroom
b
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Bedroom
2nd Floor
Bath
Nursery
280'
Code
Sketch by Apex IV Windows TU
AREA CALCULATIONS SUMMARY
Description Si.e
GIJU
First Hloor
Second i"l.oor
Porch
PIp
TOTAL LIVABLE
672.00
672.00
224. DO
(rounded)
FLOORPLAN
T olals
1344.00
.24. DO
State: PA
File No.: 07~190
Case No.: SUMMARY REPORT
Zip: 17240
Kitchen
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I'irst Floor
LIVING AREA BREAKDOWN
BreakdO'Ml Subtolals
672.00 i
24.0 x 28.0
Second Floor
24.0 J[ 28.0
1344
2 Areas Total (rounded)
672. DO
1344
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'I B',mower. E, uge, n,. W. LAROCCA (Estate)
Property Address: 273 Fox Hill Road
City rJewburg
I Lender Said is, Flower & Lindsa
Oitate PA
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File No.: 07-0190
Case No : SUMMARY REPORT
Zip: 17240
FRONT VIEW OF
SUBJECT PROPERTY
{I,ppraised Date:
Appraised Value: $
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
State PA
Borrower Eugen€: 'N. LAROCCA iEstate)
Property fl.ddress: .273 Fox Hill Road
City: Newburg
Lender: Saidis Flower & Lindsav
File No. 07-0190
Case No: SUMMARY REPORT
Zip: 17240
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Borruwer: Eugent ~^'J. LAROCCA (E::.tate) File No. 07-0190
Property .l\ddress :~73 Fox Hill Road__ Case No : SUMMARY REPORT
City Newburg State. PA - Zip: 17240
Lender: Said is. Flower & Lindsav
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ProperiV F.ddress-17,~l'ox Hill Road__"
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Lender Said is. Flower & Lindsav
State PA
File No.: 07-0190
Case No.: SUMMARY REPORT
Zip: 17240
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acreage to east [toward pond]
acreage to north
File No,: 07-0190
Case No : SUMMARY REPORT
Stdte' I'A__ Zip: 17240
i Borrower: Eugene W. LAROCCA (E~tate)
Properly Address 273 Fox Hill Road
City III<;wburg
Lender Saidis Flower & Lindsav
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acreage to northwest
I 801(OW81 Eugene IN. LAROCCA (Estatej
1..p0r0perty AddreSS2731'()~.Hill RO~_.___._
City: Newburq _ n______~_~_ ____
LLend.;r Said is, Flower & Lindsay_
State PA
Fil.; Nu.: 07-0190
Case No.: SUMMARY REPORT
Zip: 17240
acreage to northeast
aCieage to north
acreage to east
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Case No.: SUMMARY REPORT
Zip: 17240
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LOCATION MAP
State: PA
File No.: 07-0190
Case No.: SUMMARY REPORT
Zi : 17240
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Prepared by: Stevon W. Barrett RE Appr. Svc. (717)242,.6646
BR 'Bath 'S Ft 'Proxlmi--~~cJ,_;l~~: .
s 273 ",OJ< Hill Rd NIl'. N/A 5 3 1 1344 0.00 MI
1 23S> Clover Hill Rd 2/07 630000 7 3 2 2243 3.6 MI W
2 101 BRAND'i RUN RD 10/05 537500 7 3 2 2118 4.9 Ml liE
3 34 Clugston Rd 1/05 380000 5 3 2 1680 2.1 111 l!:NE:
SUMMARY REPORT
File No 07-0190
********* 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 com parable sales used DO NOT AFFECT THE MARKET
VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home
inspection service. This is an appraisal to estimate market value.
_1. The subject is located in a rural area and is less than 25% built-up.
_)(_2. Commercialllndustrial 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.
_)(_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.
_x_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.
_x_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 comparables on that individual rating. All com parables used are the best available.
_x_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_17. One or more com parables used were in excess of one (1) mile from the subject property. Although there are
comparable properties in the immediate area, none have sold recently. Therefore, it was necessary to use comparable
sales outside of the immediate area. All com parables 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.
_x_22. Inground swimming pool_, out buildings_x_are included_x_,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.
SUMMARY REPORT
File No 07-0190
********* QUALIFICATIONS *********
_24, The subject property is located on a private road.
_25, Wood infestation inspection is suggested,
_x_26, Last recorded deed transfer: Date_1/9/1978_, Consideration: $90,000_.
_27, Proposed construction/renovation in accordance to plans and specifications to be completed In a workman-like
manner.
_28, Seller is paying part or all of closing costs,
_x_29 , All comparable sales are verified closed sales,
_x_3D, 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,
SUMMARY REPORT
File No, 07-0190
-- QUALIFICATIONS .........
Confidentiality and Security Policy
We consider privacy to be fundamental to our relationship with clients. We are committed to maintaining the
confidentiality, integrity and security of clients' personal information. Internal policies have been developed to protect
this confidentiality, while allowing client needs to be served.
We restrict access to personal information to authorized individuals who need to know this information to comply with
federal standards to protect your 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.
SUMMARY REPORT
File No. 07-0190
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
knowiedge, 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 completeiy, 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 appraisai 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.
g. 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 il.
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: 273 Fox Hill Road, Newburg, PA 17240
SUPERVISORY APPRAISER (only if required)
S-~- <---rJ ji .-'- J
Signature: - / 2--.--. 7r--
Name: Steven W. Barrett, SRPA, SRA
Date Signed: 7/24/2007
State Certification #: GA-000298-L
or State License #: RB-026921-A
State: PA
Expiration Date of Certification or License: 06/30/2009
APPRAISER:
Signature: ;2~~ldJ .{2Jl1/=
Name: Cassandra J. Crockett
Date Signed: 7/24/2007
State Certification #: RL-001348-L
or State License #:
State: PA
Expiration Date of Certification or License: 06/30/2009
o Did IXJ Did Not Inspect Property
Certified Residential Appraiser
Freddie Mac Form 439 6-93
Certified General Appraiser
Page 2 of 2
Fannie Mae Form 10048 6-93
S. W. Barrett Real Estate & Appraisal Services
F~e No. 07-0189
I
APPRAISAL OF
LOCATED AT:
Vacant land- Ritner Highway
Newville, PA 17241
FOR:
Said is, Flower & Lindsay
26 West High Street
Carlisle, PA 17013
BORROWER:
Eugene W. LAROCCA (Estate)
AS OF:
February 9, 2007
BY:
Cassandra J. Crockett
Certified Residential Appraiser
S. W. Barrett Real Estate & Appraisal Services
File No 07-0189
OS/21/2007
Said is, Flower & Lindsay
26 West High Street
Carlisle, PA 17013
File Number: 07-0189
In accordance with your request, I have appraised the real property at:
Vacant land- Ritner Highway
Newville, PA 17241
The purpose of this appraisal is to develop an opinion of the market value of the subject property, as vacant.
The property rights appraised are the fee simple interest in the site.
In my opinion, the market value of the property as of February 9,2007
is:
$21,000
Twenty-One 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,
C~~'~
Certified Residential Appraiser
LAND APPRAISAL REPORT
File No 07-0189
LENDER DISCRETIONARY USE
Sale Price $
Dale
Mortgage Amounl $
Mortgage Type
Discount Points and Other Concessions
Paid by Seller $
ProoertY Address Vacant land- Ritner Highwav Census Trad 0127-98
Ciiv Newville Couniv Cumberland State PA ZIp Code 17241
Leoal Desaiotlon Deed Book 28-Q. Paae 86. tax Darcel # 41-28-2040-011. South Newton TWD
OwnerlOccupant Euoene & Gladvs LaRocca Ma Reterence 28-2040
" Sale Price $ N/A Dale of Sale N/A Property Rights Appraised
Loan charoes/concessions to be paid bv seller $ N/A IKJ Fee Simple
RE. Taxes $ 354.00 Tax Year 06107 HOA $IMo. N1A 0 Leashold
Lender/Clienl Saidis Flower & Lindsav 0 Condominium (HUDNA)
26 West Hioh Street Carlisle PA 17013 l PUD Source
LOCATION Q Urban [2U Suburban c:: Rural NEIGHBORHOOD ANALYSIS Goo<>.",,,, "'"
BUILT UP 0 Over 75% [R] 25-75% 0 Under 25% Employment Stability IKJ 0 0 0
GROWTH RATE 0 Rapid [R] Stable 0 Slow Convenience to Employment 00 0 0 0
PROPERTY VALUES IKJ Inaeasing 0 Stable 0 Declining Convenience to Shopping 0 IKJ 0 0
DEMAND/SUPPL Y 0 Shortage ~ In Balan.ce 0 Over Supply Convenience to Schools 0 IKJ 0 0
MARKETING TIME H Under 3 Mos IX 13-6 Mos n Over 6 Mos. Adequacy of Public Transportation 0 IKJ 0 0
: PRESENT LAND USE % LAND USE CHANGE PREDOMINANT SlNGLEFAMIL YHOUSlNG Reaeation Facilities 0 IKJ 0 0
. Single Family ~ Not Likely 0 OCCUPANCY PRICE AGE Adequacy of Facilities 0 IKJ 0 0
. 2-4 Family ~ Likely 0 Owner IKJ $(000) (yrs) Property Compatibility 0 IKJ 0 0
" Multi-Family ~ In process IKJ Tenant 0 ~ Low ~ Protection from Detrimental Cond. 0 IKJ 0 0
Commercial ~ To: Residentiall Vacant (0-5%) IKJ ~High~ Police & Fire Protection 0 IKJ 0 0
Industnal 0% Commercial Vacant (over 5%) 0 Predominant General Appearance of Properties Q ~ Q HO
Vacant 42% 150 - 45 Anneal to Market I I I X I I I
Note: Race or the racial composilion of the neighborhood are not considered reliable appraisal factors COMMENTSSubiect oroDertv is located in an
exoandina area of sin.ale familv homes and farms between Newville and Shiooensbura, with a mix of residential aoricultural
and commercial usaae. ShoDoina and other amenities are within a short drivina distance. School svstem is Bic Serina District
and students are bused. SMSA 42-3240.
Dimensions See lellal descriotion/tax map Topography Slooina to level
Site Area 0.60 Acre MIL Corner Lot No Size Tvpical for Area
Zoning Classification Agricultural Zoning Compliance Yes Shape SQuare
HIGHEST & BEST USE Present Use Yes Other Use Residential Drainage ADoears Adeauate
UTILITIES Puolic Other SITE IMPROVEMENTS Type Public Private View ResidentiallCountrvside
Electricity [J av street Slreet Asphalt IKJ 0 Landscaping Wooded
Gas [J Curb/Guller None 0 0 Driveway Stone [overarown!
Water 0 * Sidewalk None 0 0 Apparent Easements None ADDarent
Sanitary Sewer Q * Streel Lights None 0 0 FEMA Flood Hazard Yes' No x
Storm Sewer I I Allev None i1 n FEMN Mao/Zone 421586/Zone C
Comments (Apparenl adverse easements, encroachments, special assessments, slide areas, elc.) There are no aODarent adverse easements
encroachments or other adverse conditions. Brick storaQe buildina on site, no current utilites. * No Derc and Drobe results
known to e){ist current zoninn reauires 1.5 acres Der site for on site utilites oer townshio officials.
The undersigned has recited three fecent sales of properties most similiar ana pHlximale IQ 5oIloiec.\ and nO!:; con5iOE:Ted Ihese in Ihe market analysis ne description includes a dollar
adjustment, reflecting market reaclion to those ilems of significant variation between the subject ilnd comparable properties_ If a significant item in the comparable properly js $uperior
to, or more favorable than, the subJllct properly, a minus (-) adjustment is made, thus reducing the indicated value of subjecJ; if a significant item in the camllarabla is lnfarlar la,
OT less lavara'ole Ihan lhe subject property. a ptus (1") adlustment is made, thus increasing the indicated value of the subjec!.
Address
Proximitv to Subiect
Sales Price
Pricel Acre
Dala Source
VALUE ADJUSTMENTS
. Sales or Financing
Concessions
Date of SalelTime
. Location
SlteMew
ToooaraDhv
Amenities
Utilities
Zonina
Net Adi. tlotal)
Indicated Value
of Subiect
Commenls of Sales Comparison:
ITEM
SUBJECT
Vac-Ritner Hwy
S.Newton-Newvi
COMPARABLE NO.1
Vac-Ritner Highway
Penn-Newville
1.4 MI ENE
COMPARABLE NO.2
Vac-Ritner Highway
S.Newton-Newville
0.95 MI WSW
COMPARABLE NO.3
Vac-Hammond Road
S.Newton-Newville
2.4 MI SW
N/A $
III $ 50 OOO/Acre III
Courthouse Records
DESCRIPTION I ~-)$ Adi",lm",'
None, Conv
$ 55,000
$ 28,7961 Acre III
Courthouse Records
DESCRIPTION .(-)$ Adi"'lm.,,1
None, Conv
$ 60 000
$ 39 474/Acre III
Courthouse Records
DESCRIPTION I ~-)IAd",\""'1
None, Conv
$
$
InsDection
DESCRIPTION
57.000
1/06
Suburban/Avo
1.14 Acre+l-
Rollinll
None 15%
On site 30%
AClricultural
I 1+ Ixl-: $
Gross: 50.81
Nel: -9.21 $
See Attached Addendum.
: 2.917
:
7500
: -15000
:
4583
45417
6/06 :
Suburban/AvQ
1.91.Acre+l-
RollinCl :
None 15%
On site 30%
AQricultural :
1+ Ixl-:$
Gross: 46.9
Net: -15.6 $
6/06
Suburban/Ava
1.52 Acre+l-
Rollinc
4 500 None 15%
-9 000 On site 30%
Aaricultural
4500 fl+ Ixl-:$
Gross: 45.61
24 296 Net: -15.21 $
:
:
:
6000
: -12 000
:
6000
33474
Suburban/Avg
.60 Acre+l-
Slooinll-level
Brk.Stro. BldQ
None
Acricultural
Commenls and Conditions of Appraisal: Propertv has been aDoraised in "as is" condition. No utilities are currentlv extended to site and
no recent oerc and orobe is known to exist utilitv of 26' x 26' brick storaqe buildinll on site would be limited.
Final Reconciliation: Market analvsis supports mv estimate of market value. Adjusted ranoe of value is $24 OOO/acre to $45 OOO/acre
. say $34.500 x .60 acre = $20 700 sav $21.000.
I(WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE SUBJECT PROPERTY AS OF February 9, 2007 to be $ 21.000
. I (We) certify: that to the best of my (our) knowledge and belief, the facts and data used herein are true and correct: that I (we) personally inspected the subject property
and inspected a~omparable sales CI~.ted in this;;ort: a~d t:~ I (we) have no undlsclos~ent ~pe1ve rein. J J
Appraiser(s) t.iud AAJ ....,;; ,., .. {. -::; ~ Review Appraiser --- I / 0 Did IKJ Did Nol
Cassandra J. Croc (if applicable) Steven W. Barrett SRPA SRA ASA Inspect Property
Prop-ietary land Form 04/88 Certified Residential Appraiser Pl"lxluClld uq ACI software, 1UI.234,8m www,adwel>can Certified General Appraiser
SW. Barrett Real Estate & Appraisal Services
ADDENDUM
Borrower: Eugene W. LAROCCA (Estate)
Properly Address: Vacant land- Ritner Highway
City: Newville
Lender: Said is, Flower & Lindsay
File No.: 07-0189
Case No.:
State: PA
Zip: 17241
Comments on Sales Comparison
All comparables sites are superior to the subject site as they are buildable lots, no recent sales were found under one acre. These are the
best currently available. Contributory value of the storage building on the subject site was given at 15% of acreage value. Annual adjustment
was taken at 5% for sale over one year. Township zoning currently requires a 1.5 acre site with on-site well/septic and 200' frontage at
street. A variance would be required from the South Newton Twp Zoning Board for any change In use for this site per township officials, and
current set-back requirements would make such application unlikely. Current set-backs for building are 50' from any boundary line, 100'
between well and septic, and 10' from any boundary line for septic field.
Addendum Page 1 of 1
I' l:J,O, rr,'T,W,' er',EU9,ene W, LAROCCA (Estate)
Property Address: Ritner Highway
City ~elNville
Lender: Saidis Flower & Lindsa
State: PA
- m.._ ________.___.._,.
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hie No.: 07.0189
Case No.:
Zip: 17241
FRONT VIEW OF
SUBJECT PROPERTY
f\ppraised Date: May 14, 2007
Appralsea value: :ji
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
: BorroWer: Eugene W: LAROCCA (Estate)
I Property Address: Ritner Highway
I C":IT'LNewville_______________________
, Lender: Saidis Flower & Lindsa
State: PA
Zip: 17241
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Case No.:
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The Estate of Eugene W. LaRocca, Sr.
Stock
HiQh
122.87
14.52
M & T Bank
Tronox Corporation
Kerr-McGee Corporation
Low
121.37
13.90
122.13
14.21
70.50
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M&T Bank: Personal Banking
Page 1 of2
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[___~rsonBI
Stock Infornlation
StockTable I Stock Chart I Historical Stock Price
M& T Bank (MTB): as of 4: 11 PM EST on Nov 07
high low open prev close
91.35 88.01 91.35 92.43
_ 4.42 . 4.78% volume pIe eps
727,300 12.79 7.23
88.01
bid - ask 52-wk range
N/A - N/A 125.13 - 89.61
dividend yield market cap
2.80 3.03 9,867,052,000
1 Year Chart
. M 8: T BK CORP
as of 11/7/2007
Daily
. $130,00
120,00
115.00
110.00
105.00
100.00
95.00
90.00
85,00
80.00
Period
Bench
III Volume
Percent
1 Year
None
Update Chart
Historical Price Lookup
Select a date to determine the cost basis per share on that date.
[ Update Price
M& T Bank Corporation(MTB) - as of February 09, 2007
High Low Open Close
$122.87 $121.37 $122.64 $121.67
Ib.../j~
Volume
296,000
For Historical Price information on Keystone Financial, Inc., click here.
Tronox Incorporated - Historical Stock Lookup
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Week of February 5, 2007
TRX
Date Open
Feb 5, 2007 14.48
Feb 6, 2007 14.43
Feb 7, 2007 14.76
Feb 8, 2007 14.40
Feb 9, 2007 14.42
February 9 2007
Year End Stock Prices
High Low
14.57 14.30
14.89 14.33
14.78 14.10
14.63 14.38
14.52 13.90
/~.JJ
Close Volume
14.37 54,500
14.78 98,500
14.40 128,900
14.47 79,100
13.90 329,200
18
16
14
12
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.....
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(,)
't:
Q..
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4
2
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2QD5
2006
'Year
The historical stock information provided is for informational purposes only and is not intended for trading purposes. The historical stock information is provided by Mergent, :
third-party service, and Tronox Incorporated does not maintain or provide information directly to this service. Prices display split-adjusted cost basis per share on that date.
One Leadership Square, Suite 300
211 N. Robinson Avenue, Oklahoma City, OK 73102-7109
405-775-5000,866-775-5009 (toll free in North America)
FmM&TBank
499 Mitchell Road, MiIlsboro, DE 19966 Mail Code DE-MB-12
Phone (888) 502-4349
Fax (302) 934-2955
March 6, 2007
Law Offices
Saidis Flower & Lindsay
2109 Market Street
Camp Hill, Pennsylvania 17011
Re: estate of' Eugene W Larocca
Social Securitv: 176-32-6320
Date of Death: February 09, 2007
Dear Sir or Madam:
Per your inquiry dated March 2, 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
54379539
Ownership (Names of)
Eugene W Larocca *
Opening Date
10/28/69
Balance on Date of Death
$39,893.17
i
Accrued Interest
$
2.97
Total
$39,896.14
2.
Type of Account
Checking Account
Account Number
~~ CJ? 1>-1 0 <t.~ cr
Ownership (Names of)
Eugene W Larocca *
Opening Date
10/27/97
Balance on Date of Death
$34,929.33
Accrued Interest
$ 11.01
Total
$34,940.34
3.
Type of Account
Certificate of Deposit Account
Account Number
031003908163353
Ownership (Names oj)
Eugene W Larocca *
Opening Date
11/07/00
Balance on Date of Death
$3,134.21
, l~k'
Accrued Interest
Total
$ 146.26
--$3:280~4i-----------------------------.-----------.-.m-----------.-
4.
Type of Account
Certificate of Deposit Account
Account Number
031003915939945
Ownership (Names oj)
Eugene W Larocca *
Opening Date
03/09/06
Balance on Date of Death
$20,1 53.56
Accrued Interest
$ 890.11
Total
$21,043.67
5. Type of Account Certificate of Deposit Account
Account Number 031003908163197
Ownership (Names oj) Eugene W Larocca *
Opening Date 10/25/00 Closed 01/2
Balance on Date of Death $0.0 ** Closed pn'or to the date of death
- -...,.,.-...---.....-
6. Type of Account Certificate of Deposit Account
Account Number 031003913947958
Ownership (Names oj) Eugene W Larocca *
Opening Date 07/12/01 Qttsed-(f3fO
$ 0.o00sed prior to the date of death
Balance on Date of Death
-"'''-
7.
Type of Account
Certificate of Deposit Account
Account Number
031003913947982
Ownership (Names oj)
Eugene W Larocca *
Opening Date
08/14/01
Closed 03/09/06
Balance on Date of Death
$ 0.00 * Closed prior to the date of ~~
. ---'^'...---.-------/
Please be advised, there was no safe deposit box found for the above decedent.
* For further account infonnation, regarding ownership, closures and/or reimbursement of funds, etc., please call
the Spring Garden Office # 717-240-4525.
Sincerely,
~~~~/
Nancy C~ett
Records Management
REGULAR SAVINGS ACCOUNT:
Account Number/Suffix
Date Account Established
Principal Balance at Date of Death
Accrued Interest to Date of Death
Total Principal and Accrued Interest
Name of Joint Owner
Date Joint Ownership Established
MONEY MANAGEMENT ACCOUNT:
Account Number/Suffix
Date Account Established
Principal Balance at Date of Death
Accrued Interest to Date of Death
Total Principal and Accrued Interest
Name of Joint Owner
Date Joint Ownership Established
CERTIFICATES OF DEPOSIT:
Account Number/Suffix
Date Certificate Established
Principal Balance at Date of Death
Accrued Interest to Date of Death
Total Principal and Accrued Interest
Name of Joint Owner
,
\
)
Estate of: EUGENE W. LAROCCA, SR.
Date of Death: 02/09/2007
Social Security Number: 176-32-6320
fvl~
MEMBERS 1st
FEDERAL CREDIT UNION
51223 -00
01/23/1975
$201.70
$.04
$201.74
Mark D. LaRocca
01/24/2007
51223 -05
11/08/1999
$140.92
$.01
$140.93
Mark D. LaRocca
01/24/2007
51223 -51
03/15/1999
$46,094.43
$40.71
$46,135.14
None
51223 -55
08/23/2006
$84,687.98
$65.89
$84,753.87
None
. M MM ,E E~S 1ST FEDERAL CREDIT UNION
ALh~ 1d)~
Denise A. Wift~?
Insurance Services ) pervisor
March 20, 2007
5000 Louise Drive . Po. Box 40 . Mechanicsburg, Pennsylvania 17055 . (717) 697-1161 . www.members1st.org
// NAVY e
FEDERAL
@
Credit Union
In reply refer to:
1970007
26 March 2007
Thomas E. Flower
Attorney at Law
2109 Market Street
Camp Hill, PA 17011
{;/ t(~-I
Dear Mr. Flower:
We are very sorry to learn that Eugene W. LaRocca has passed away and, on behalf of Navy
Federal's staff and membership, we wish to extend our heartfelt sympathy to his family. We
have completed settlement of his account and I hope that the following information is of
assistance to you.
On 9 February 2007, Colonel LaRocca's share savings account reflected a balance of$156.91.
Due to his age, the shares earned no Life Savings Insurance. Our explanatory flier is enclosed.
Dividends credited to the account since that date increased the balance to $157.19. Since no
joint o\vner with right of survivorship has been designated, the enclosed check for the share
balance has been made payable to his estate.
Colonel LaRocca's account is now closed and the [mal statement will be forwarded at a later
date. Should you have any questions, please call me toll-free at 1-800-883-3323, extension
48882, between 8:00 a.m. and 4:30 p.m., Eastern time, Monday through Friday. You may also
reach me by fax at 1-703-255-7963.
Sincerely,
Tatiana Munoz
~
VG:tf
Enclosures:
Insurance Flier
Check No. 2600529384
PO Box 3000 Merrifield VA 22119-3000
Kelley Blue Book - Trade-In Pricing Report - Chevrolet, 10 Pickup
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Engine:
120,000
VB 5.0 Liter
Automatic
2WD
Drivetra in:
Selected Equipment
Change Equipment
Standard
Air Conditioning
Power Steering
AM/fM Stereo
Blue Book Trade-In Value
Trade-in Value is what consumers can expect to receive from a dealer for a trade-in vehicle
assuming an accurate appraisal of condition. This value will likely be less than the Private Party
Value because the reselling dealer incurs the cost of safety inspections, reconditioning and other
costs of doing business.
Vehicle Condition Ratings
Check Vehicle Title History
Excellent
00000
$1,275
"Excellent" condition means that: the vehicle looks new/ is in excellent mechanical condition
and needs no reconditioning. This vehicle )la5 never had any paint or body work and IS free of
rust. The vehicie has a clean title history and will pass a smog and safety inspection. The
engine compartment is clean, with no fluid leaks and is free of any wear or visible defects. The
vehicfe also flas complete and verifiable service records. Less than 5ck of all used vehicles fali
into this category.
Good
OCDa:'.:fi
$1,050
"Good" condition means that the vehicle is free of any major defects. This vehicle has a clean
title tlistory, the paint, body and interior have only minor (if any) blemishes, and there are no
major mechanical problems. There should be little or no rust on this vehicle. The tires match
and have substantial tread wear left. A "good" vehicle will need some reconditioning to be sold
at retail. Most consumer owned vehicles fall into this category.
Fair
COa:..~:::,r.
$700
"fair" condition means that the vehicle has some mechanical or cosmetic defects and needs
servicing but is still in reasonable running condition. This vehicle has a clean title history, the
paint, body and/or interior need work performed by a professional. The tires may need to be
replaced. There may be some repairable rust damage.
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APPRAISAL REPORT
OF
PERSONAL PROPERTY
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OF
f-~ -MarKLarocca llXc.eJ1}.eJ
170 West Pomfret Street
Carlisle, PA 17013
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for
Mark Larocca
170 West Pomfret Street
Carlisle, P A 17013
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AS OF:
September 30,2007
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BY:
Ibis Appraisal
Services
I45 N. Hanover St.
EQ Box 24
CIlr/;s/e; PA qOIJ
(717) 243-3474
info@ibisappraisals.com
www.ibisappraisals.com
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TABLE OF CONTENTS
Table of Contents
Appraisal Certificate
Appraisal Summary
Photograph & CD-ROM Instructions
Personal Property Listing
Appraisal Summary (Copy)
References
Privacy Notice
Statement of Qualifications
Assumptions and Limiting Conditions
2
3
4
5
6
19
20
21
22
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2
APPRAISAL CERTIFICATE
I hereby certify that, upon the request for the appraisal of the personal property of Mark
Larocca, 170 West Pomfret Street Carlisle, P A 17013, I have personally and physically
inspected the listed personal property. The personal property was appraised to determine
the FAIR MARKET VALUE, AS OF September 30, 2007. The date of inspection was
September 11,2007.
The information and values contained in this report are based upon my experience as an
appraiser and other reliable sources. The personal property was found to be in GOOD to
EXCELLENT condition, unless otherwise noted. Values are reported piece-by-piece,
and/or as a whole. All values reported have been determined with consideration to the
condition of the item, market conditions, and salability factors.
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APPRAISAL SUMMARY
It is in my opinion, that, as of this 30th day of September 2007, the Fair Market Value of
the personal property of~Larocca, 170 West Pomfret Street Carlisle, PA 17013:
(Twenty ~ Hundred Twenty Dollars and Zero Cents)
($20,120.00)
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The report must be read in its entiretv. The Appraisal Summarv ONLY is
not the appraisal report.
4
Photograph and CD-ROM Instructions
Ibis Appraisal Services has provided you with a CD-ROM that houses all of the digital
photographs of all of the items appraised. The CD-ROM also contains a saved copy of
the appraisal report. This CD-ROM may be kept with the paper copy of the appraisal
report or kept off-site, such as a safety deposit box.
The photographs are saved in the JPEG picture format, meaning that all of the file names
end with a "JPG".
The file names correspond to the written appraisal report's Corresponding Photograph
File that is included at the end of each item appraised.
Getting started with your CD-ROM
1. Insert the CD-ROM into your computer's CD-ROM Drive. If you do not have a
computer or access to a CD-ROM Drive--a copy store, office supply store, or public
library will be able to help you view and/or print your pictures.
2. Your computer may contain one or several different software programs that will
allow you to view your pictures. Examples of these programs are Draw, Photo Editor,
Picture It! Express, Photo Suite, My Photo Center, Photo Studio Lite, Photo Shop
Pro, Picture CD, or Photo Deluxe. The program that is included with a digital camera
is another way to view your pictures.
· Select the program for viewing photographs and open the program.
3. Click FILE, and Click OPEN.
4. Use the Pull-Down, "Look in" Menu and select the D Drive (D:) or whichever drive
is designated as your CD-ROM (sometimes this may be the E Drive (E:) on your
computer).
. NOTE
· Your CD-ROM Drive is designated with a small CD-ROM graphic Icon or a
cartoon representing the drive.
· The drives of your computer can be found under My Computer section of the Pull-
Down "Look in" Menu. Common Drives are: A Drive (floppy disc drive), the C
Drive (hard disc drive), the D Drive (CD-ROM Drive), and the E Drive (sometimes
CD-ROM Drive; sometimes an external drive, like a CD-ROM Writer, Zip, or Jazz
Drive).
5. Double-click on the photograph you wish to view.
5
1
2
3
4
5
6
Personal Property Listing
Server. Victorian marble top server, cherry with
walnut inlay and stag ornamentation, with two
drawers over two doors.
Corresponding Digital Photograph Files:
r0324833-r0324835Jpg
Comer Cupboard. Vintage early twentieth century
open comer cupboard.
Corresponding Digital Photograph File:
r0324836Jpg
Covered Dish. Tri-portrait hand-painted porcelain
covered dish. Wittelshach.
Corresponding Digital Photograph File:
r0324837.jpg
Limoges & Bavaria. Large selection of hand-
painted vintage Limoges and Bavaria.
Corresponding Digital Photograph Files:
r0324840-r0324842Jpg
Tea Set. Limoges hand-painted tea set. H &
Company.
Corresponding Digital Photograph File:
r0324838Jpg
Water Pitcher & Undertray. Limoges hand-painted
water pitcher & undertray. B&H.
Corresponding Digital Photograph File:
r0324839.jpg
$1,250.00
$250.00
$200.00
$400.00
$200.00
$125.00
6
..
7
Stool. Middle Eastern camel stool.
Corresponding Digital Photograph File:
r0324848jpg
Grandmother/Granddaughter Clock. Empire tall
case grandmother/granddaughter clock with cherry
case, broken arch top.
Corresponding Digital Photograph Files:
r0324843-r0324845jpg
8
Coat Rack. Victorian coat rack with brass hooks.
Corresponding Digital Photograph File:
r0324846jpg
9
Table. Vintage oak spindle table.
Corresponding Digital Photograph File:
r0324847jpg
10
$300.00
$65.00
$40.00
$15.00
7
11
12
13
14
15
Chair. Bentwood chair with raised sunburst
pattern.
Corresponding Digital Photograph File:
r0324849jpg
Table. Round Victorian hardwood table.
Corresponding Digital Photograph Files:
r0324850 & r0324851jpg
Table. Library table with two drawers and a red
felt top.
Corresponding Digital Photograph Files:
r0324852 & r0324853jpg
Clock. Mantle clock with lion motif made by the
E. Ingraham Company of Bristol Connecticut,
eight-day.
Corresponding Digital Photograph File:
r0324855.jpg
Vanity. Oak: vanity with a mirror and two drawers
over a cupboard.
Corresponding Digital Photograph Files:
r0324856 & r0324857 jpg
$35.00
$300.00
$250.00
$100.00
$75.00
8
16
17
18
19
20
Mirror. Federal style gilt mirror.
Corresponding Digital Photograph File:
r0324858.jpg
$50.00
Hutch. Vintage Art Nouveau style china hutch.
Corresponding Digital Photograph File:
r0324859.jpg
$250.00
Table & Chairs. Oak table and four chairs.
Corresponding Digital Photograph File:
r0324861.jpg
$200.00
Clock. Ansonia Art Nouveau Mantle clock, brass
with enameling.
Corresponding Digital Photograph File:
r0324862.jpg
$175.00
Tea Service. 950 sterling tea service with tea pot,
coffee pot, creamer and covered sugar. Not
marked.
Corresponding Digital Photograph File:
r0324863.jpg
$1,500.00
9
21
22
23
24
25
Thermometer. Victorian thermometer by Lefevre.
Corresponding Digital Photograph File:
r0324865jpg
Painting. Ludwig Rach (1853-?), Munchen,
Germany oil on academy board painting, circa
1877.
Corresponding Digital Photograph Files:
r0324866 & r0324867 jpg
Painting. Ludwig Rach (1853- ?), Munchen,
Germany oil on academy board painting, circa
1877.
Corresponding Digital Photograph File:
r0324869jpg
Hutch. Victorian Neo-Gothic hutch/server with
mirrored back.
Corresponding Digital Photograph File:
r0324870jpg
Painting. Unsigned framed musical sti1llife.
Corresponding Digital Photograph File:
r0324873jpg
$275.00
$400.00
$400.00
$250.00
$150.00
10
26
27
28
29
30
Chairs. Cherry Victorian arm chairs with red
tacked leather including three with arms and six
without.
Corresponding Digital Photograph Files:
r0324874-r0324876jpg
$270.00
Table. Victorian marble top table with dark
marble. Lion head accents.
Corresponding Digital Photograph Files:
r0324878-r0324881 jpg
$400.00
Carpet. Persian Iran hand-woven carpet.
Corresponding Digital Photograph Files:
r0324882-r0324884jpg
$300.00
Desk. Victorian roll top desk with flamed wood
veneer and red felt insert.
Corresponding Digital Photograph Files:
r0324885 & r0324886jpg
$400.00
Tall Case Clock. Vintage tall case clock with
quarter columns, brass eagle finial. Cannot see
signature.
Corresponding Digital Photograph Files:
r0324887-r0324890jpg
$550.00
11
31
32
33
34
35
Clock. Large Astor Empire clock.
Corresponding Digital Photograph Files:
r0324891-r0324893jpg
Lamps. Several vintage lamps, some electrified.
Gone with the Wind and other oil/kerosene type
lamps.
Corresponding Digital Photograph Files:
r0324894-r032489~jpg
Cabinet. Victorian cabinet with burled walnut
veneer and two doors.
Corresponding Digital Photograph File:
r0324898.jpg
Tea Cart. Vintage hardwood tea cart.
Pedestals. Two vintage Victorian pedestals.
Corresponding Digital Photograph File:
r0324899jpg
$200.00
$350.00
$250.00
$45.00
$300.00
12
36
37
38
39
40
Statues. Two H. Kim female Parian sculptures,
both with a wooden base (Fecit 1878).
Corresponding Digital Photograph File:
r0324900.jpg
$500.00
Table. Vintage Empire game table.
Corresponding Digital Photograph File:
r0324903.jpg
$250.00
Table. Vintage Victorian marble top table.
Corresponding Digital Photograph File:
r0324904.jpg
$150.00
Table. Victorian Eastlake marble top table.
Corresponding Digital Photograph File:
r0324905.jpg
$100.00
Hall Table. Victorian hall table with mirrored
back.
Corresponding Digital Photograph Files:
r0324906-r0324908.jpg
$200.00
13
41
43
42
44
45
Mirror. Gilt mirror with floral motif
Corresponding Digital Photograph File:
r0324909jpg
Bedroom Suite. Victorian bedroom set, cherry
with burled accents including a bed, dark marble
top vanity, and wardrobe.
Corresponding Digital Photograph Files:
r0324917-r0324919jpg
Lamp. Vintage Bradley and Hubbard kerosene
lamp, electrified. Titled, "Sold at Spariate".
Corresponding Digital Photograph File:
r0324910jpg
Tall Case Clock. Vintage tall case clock. Colonial
Mfg. Co. Zeeland, Mich. USA. Broken arch
bonnet.
Corresponding Digital Photograph Files:
r0324911 & r0324912jpg
Carpet. Persian hand-woven wool carpet.
Corresponding Digital Photograph Files:
r0324914-r0324916jpg
$125.00
$1,250.00
$800.00
$500.00
$400.00
14
46
47
48
49
Davenport. Davenport desk with roll top.
Corresponding Digital Photograph File:
r0324920.jpg
Dresser. Eastlake dresser with mirror and a marble
top.
Corresponding Digital Photograph File:
r0324921Jpg
Tall Case Clock. Tall case clock by William
Morgan with a hand-painted face in working
condition, made in Pontypool, Wales.
Corresponding Digital Photograph File:
r0324922.jpg
Firearm. Winchester rifle, model 190, 22 caliber.
Corresponding Digital Photograph File:
r0324923Jpg
$350.00
$150.00
$2,000.00
$85.00
15
50
51
52
53
Firearm. Western Field rifle, model M780.
Corresponding Digital Photograph File:
r0324923.jpg
$75.00
Firearm. Topper Jr. rifle, Harrington &
Richardson, model 490.
Corresponding Digital Photograph File:
r0324923.jpg
$150.00
Firearm. Mossberg rifle, model 190, 16 gauge.
Corresponding Digital Photograph File:
r0324923.jpg
$100.00
Cabinet. Oriental ebonized curio cabinet.
Corresponding Digital Photograph File:
r0324924.jpg
$85.00
54 Firearm. Rifle in case, Remington rifle, proof $120.00
tested bolt action with clip.
55 Firearm. Rifle in case, Winchester model 94, $400.00
30/30.
56 Firearm. Remington, 22 LR, Ii htweight and $85.00
16
lastic.
57 Firearm. Older model, worn Japanese rifle. Older $50.00
model, worn
58 Firearm. Older model, worn Ja anese rifle. $50.00
59 Bayonet. Vintage bayonet. Possibly American or $75.00
Italian.
Corresponding Digital Photograph File:
r0324925. .
60 Clocks. Collection of Ansonia Regulator clocks. $150.00
Corresponding Digital Photograph File:
r0324926.jpg
61
62
63
Clocks. Collection of mantel clocks including Seth
Thomas, Session and Waterbury.
Corresponding Digital Photograph File:
r0324927.jpg
$500.00
Clocks. Two regulator clocks, Seth Thomas.
Corresponding Digital Photograph File:
r0324928.jpg
$200.00
Clock. RidgewaylRidgway Regular clock.
Corresponding Digital Photograph Files:
r0324931 & r0324932.jpg
$150.00
17
64
65
66
Mantel Clocks. Collection of vintage mantel
clocks.
Corresponding Digital Photograph Files:
r032493~ r0324935, r0324938, r0324939,
r0324940jpg
Banio Clock. Vintage Gilbert banjo clock.
Corresponding Digital Photograph File:
r0324936.jpg
Outdoor Furniture. Mid twentieth century outdoor
wire furniture.
Corresponding Digital Photograph File:
r0324941jpg
$500.00
$50.00
$200.00
Total $20,120.00
18
APPRAISAL SUMMARY (COPY)
It is in my opinion, that, as of this 30th day of September 2007, the Fair Market Value of
the personal property of Mark Larocca, 170 West Pomfret Street Carlisle, P A 17013:
(Twenty Thousand One Hundred Twenty Dollars and Zero Cents)
($20,120.00)
.A.
The report must be read in its entiretv. The Appraisal Summarv ONL Y is
not the appraisal report.
19
Appraisal References
Antique Clocks Price Guide. http://www.antiqueclockspriceguide.com
Art Fact. http://www.artfact.com
Art Price. http://www.artprice.com
Ask Art. http://www.askart.com
Alderfer's Auction. 501 Fairground Rd. Hatfield, PA 19440.215-393-3003.
http://www.alderferfinearts.com/
Brickers, ChuckE. Auction. 93 Texaco Rd. Mechanicsburg, PA 17050.717-776-5785.
Conestoga Auction Company, Inc. 768 Graystone Rd. Manheim, P A 17545. 717-898-
7284. http://www.conestogaauction.com/auctions/
eBay. http://www.ebay.com
Gottshall, Jr., Rov Auctions. 113 Forge Rd. Boiling Springs, PA 17007. 717-258-6222.
Gun Broker. http://www.gunbroker.com
Guns America. http://www.gunsamerica.com
Hershey, Dan Auctioneering Service. 3 Brown Rd. Shippensburg, P A 17257. 717-532-
4647.
Ocker, Carl E. Auction. 4401 Philadelphia Ave. Chambersburg, PA 17201. 717-264-
6578. http://www.kennysauction.com/
Pook & Pook. 463 East Lancaster Ave. Downingtown, PA 19335. 610-296-4040.
http://www.pookandpook.com
York Town Auction, Inc. 1625 Haviland Rd. York, PA 17404.
20
PRIVACY NOTICE
Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1, 2001,
appraisers, along with all providers of personal financial services are now required by
federal law to inform their clients of the policies of the firm with regard to the privacy of
client nonpublic and personal information. As professionals, we understand that your
privacy is very important to you and are pleased to provide you with this information.
In the course of performing appraisals, we may collect what is known as
"nonpublic personal information" about you. This information is used to facilitate the
services that we provide to you and may include the information provided to us by you
directly or received by us from others with your authorization.
We do not disclose any nonpublic personal information obtained in the course of
our engagement with our clients to nonaffiliated third parties, except as necessary or
required by law. By way of example, a necessary disclosure would be to our independent
contractors, and in certain situations, to umelated third party consultants who need to
know that information to assist us in providing appraisal services to you. All of our
independent contractors and any third party consultants we engage are informed that any
information they see as part of an appraisal assignment is to be maintained in strict
confidence within the firm. A disclosure required by law would be a disclosure by us that
is ordered by a court of competent jurisdiction with regard to a legal action to which you
are a party.
We will retain records relating to professional services that we have provided to
you for a reasonable time so that we are better able to assist you with your needs. In order
to protect your nonpublic personal information from unauthorized access by third parties,
we maintain physical, electronic, and procedural safeguards that comply with our
professional standards to insure the security and inte~rity of your information.
21
Statement of Qualifications
Alyssa L. Loney, C.A.
Professional Designations and Certifications
C.A. - Certified Appraiser of Personal Property designation earned through course work and
classes provided by the Institute of Appraisal of Personal Property.
Archaeological Resources Protection Act - Certified to conduct investigations and damage
assessment that pertains to violations of the United States federal, state, and local laws
pertaining to archaeological sites and cultural properties. Including by not limited to the
Archaeological Resources Protection Act of 1979, National Historic Preservation Act of
1966, the Native American Graves Protection and Repatriation Act and the American
Antiquities Act of 1906.
Professional Accomplishments
. State Historical and Underwater Archaeologist for the State of Louisiana.
. Attended the Conservation of Indian Artifacts Symposium sponsored by the Smithsonian
Institution and the Tunica-Biloxi Indian Reservation, Marksville, Louisiana.
. Director ofthe West Virginia University Historical Costume Museum.
. Research Archaeologist/ Artifact Instructor for CADW (Welsh Historic Monuments)/
University of York, England.
. Research and Preservation Specialist for the Maryland Historical Trust.
. Presented and published works for national and international organizations including the
Society for Historical Archaeology, Middle-Atlantic Archaeology Conference, Southeastern
Archaeological Conference, Louisiana Archaeological Society, and the Maryland Historical
Trust.
Education
B.Sc.
Historical Textiles and Clothing, 1992, West Virginia University, Morgantown,
West Virginia, United States.
Medieval Archaeology, 1995, University of York, York, England.
Certified Appraiser of Personal Property, 2001, Institute of Appraisal of Personal
Property, York, Pennsylvania, United States.
Certified to conduct investigations and damage assessment that pertains to
violations of the United States federal, state, and local laws pertaining to
archaeological sites and cultural properties.
First Step Entrepreneurial Series, 2001, Kutztown University of Pennsylvania,
Small Business Development Center.
M.A.
C.A.P.P.
A.R.P .A.
S.B.D.C.
Presently
Director and Founder ofIbis Appraisal Services. Member ofInstitute of Appraisal of Personal
Property, American Society of Appraisers, International Society of Appraisers, and Professional
Coin Grading Service.
Conducts extensive on-site appraisals, assessments, analyses, and authentication of personal and
cultural property. Operates on local, national, and international levels. Conducts research on all
objects considered personal and cultural property.
22
Assumptions and Limiting Conditions
The term "Fair Market Value", as used in this report, is defined as follows: The highest price an
item would bring if the sale occurred under normal market conditions providing
1. neither the buyer or seller is acting under duress,
2. the property has been exposed on the open market for a reasonable length of time,
3. both the buyer and the seller are aware of the potential assets and defects,
4. no unusual circumstances are present.
This appraisal was based upon the following assumptions, limitations, and conditions:
1. The information contained in this report was gathered from sources considered reliable,
personal examination, research of authenticity and comparable sales and/or auction prices.
2. No responsibility is assumed for matters that are legal in nature, including, but not limited to:
the representation of others concerning the value, authenticity, condition, origin, or
provenance of an item appraised.
3. The appraiser assumed that a normal and careful examination of the property was sufficient
to determine its quality and condition and that no extraordinary examination procedures were
to be utilized, unless these were specially requested and the expenditure of funds therefore
authorized.
4. The appraiser's court attendance and expert testimony report, if required, are not included as
part ofthis report. The appraiser does have the right to refuse testimony.
THE UNDERSIGNED HEREBY CERTIFIES;
1. That I have no interest now, nor have I had an interest in the past, nor shall I
contemplate an interest in the future, in the property covered by this appraisal.
2. That to the best of my knowledge and belief, all statements and information included
in this appraisal are true and based upon objective findings and that no pertinent
information has been knowingly withheld or deleted in this report.
3. That neither the employment to make this appraisal or compensation for doing so is
contingent upon the value of the property.
It is the firm belief of the appraiser that the information furnished in this appraisal report and the
conclusions drawn from this information are true and correct, but they are not guaranteed.
J
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