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Home My WebLink About10-31-07 ... -.J 15056051058 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 INHERITANCE TAX RETURN RESIDENT DECEDENT OFFICIAL USE ONLY County Code Year File Number 21 07 0291 Date of Birth 200-36-9113 03/22/2007 05/10/1920 Decedent's Last Name Suffix Decedent's First Name MI Neusbaum Ellen M (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 (e" 1. Original Return 2. Supplemental Return 3. Remainder Return (date of death prior to 12-13-82) 5. Federal Estate Tax Return Required 4. Limited Estate 4a. Future Interest Compromise (date of death after 12-12-82) 7. Decedent Maintained a Living Trust (Attach Copy of Trust) 10. Spousal Poverty Credit (date of death 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number 6. Decedent Died Testate (Attach Copy of Will) 9. Litigation Proceeds Received o 8. Total Number of Safe Deposit Boxes Michael A. Scherer, Esq Firm Name (If Applicable) O'Brien Baric & Scherer (717) 249-6873 C) REGISTER~~LS USE ftv First line of address C) 19 West South Street Second line of address J:-:-' . .) _:~ N City or Post Office State ZIP Code DATE FILED Carlisle PA 17013 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. P SPONSIBLE FOR FILING RETURN ADDR s 19 West South Street, Carlisle, PA 17013 PLEASE USE ORIGINAL FORM ONLY DATE lo-Li'~7 L 15056051058 Side 1 15056051058 ....J -.J 15056052059 REV-1500 EX Decedent's Name: Ellen M Neusbaum RECAPITULATION 1. Real estate (Schedule A). ............................................ 1. 2. Stocks and Bonds (Schedule B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) . . . .. 3. 4. Mortgages & Notes Receivable (Schedule D) . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) . . . . . . .. 5. 6. Jointly Owned Property (Schedule F) Separate Billing Requested . . . . . " 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) 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 Govemmental 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, or transfers under Sec. 9116 (a)(1.2) X .0_ 16. Amount of Line 14 taxable at lineal rate X.O 45 17. Amount of Line 14 taxable at sibling rate X .12 18. Amount of Line 14 taxable at collateral rate X .15 15. 16. 17. 18. 19. TAX DUE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT L 15056052059 Side 2 200-36-9113 Decedent's Social Security Number 127,500.00 770,152.00 897,652.00 11,821.64 483.10 12,304.74 885,347.26 885,347.26 39,840.62 39,840.62 '.) 15056052059 --.J REV-1500 EX Page 3 Decedent's Complete Address: File Number DECEDENT'S NAME DECEDENT'S SOCIAL SECURITY NUMBER Ellen M Neusbaum 200-36-9113 STREET ADDRESS 336 F Street CITY I STATE I ZIP Carlisle PA 17013 07 0291 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount (1) 39,840.62 38,000.00 1,900.00 Total Credits ( A + B + C ) (2) 39,900.00 3. Interest/Penalty if applicable D. Interest E. Penalty Total Interest/Penalty ( D + E ) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 0.00 59.38 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5) (5A) (5B) A. Enter the interest on the tax due. Make Check Payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred;.......................................................................................... 0 [i] b. retain the right to designate who shall use the property transferred or its income; ............................................0 [i] c. retain a reversionary interest; or.......................................................................................................................... 0 [iJ d. receive the promise for life of either payments, benefits or care? ...................................................................... 0 [iJ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. 0 [i] 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. 0 [i] 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ........................................................................................................................ 0 [i] IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. 99116 (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 PS. 99116 (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. 99116(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. 99116(1.2) [72 PS. 99116(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. 99116(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) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE ESTATE OF Ellen M. Neusbaum FILE NUMBER 21-07-0291 All real property owned solely or as a tenant In common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which Is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION Unimproved lot located on Bellaire Park Road (Spencer Baird Drive), Carlisle, PA VALUE AT DATE OF DEATH 42,500.00 2 Lot with cottage located at 231 Bellaire Park Road, Carlisle, PA 85,000.00 TOTAL (Also enter on line 1, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 127,500.00 REV-1508 EX+ (6-98). COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF Ellen M. Neusbaum FILE NUMBER 21-07-0291 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 2006 tax refunds 72.00 2 Riversource Mutual Funds 1,200.00 3 Highmark RX refund 30.16 4 Highmark premium refund 177 .90 5 The Church Of God Home, Inc., refund 8,131.57 6 M & T Bank, checking account # 430919 3,882.21 7 Wachovia Bank, N.A., certificate of deposit, account no. 247412041781266 25,045.63 8 Wachovia Bank, NA, certificate of deposit, account no. 247412042837943 40,043.24 9 Wachovia Bank, N.A., certificate of deposit, account no. 247412052683830 25,905.84 10 Wachovia Bank, NA, checking account, account no. 1010141501156 1,150.01 11 Wachovia Bank, NA, checking account, account no. 1010149261511 50,595.91 12 Ameriprise Financial, mutual funds, account no. 011201119333002 140,584.95 13 Ameriprise Financial, mutual funds, account no. 011501119330002 471,330.08 14 Personal property 2,002.50 TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 770,152.00 REV-1511 EX+ (12-99)* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF Ellen M. Neusbaum FILE NUMBER 21-07-0291 Debts of decedent must be reported on Schedule I. ITEM NUMBER A. DESCRIPTION AMOUNT 2 3 FUNERAL EXPENSES: Ewing Brothers Funeral Home, Inc. Wayne Noss Flowers (flowers for funeral) Carlisle Memorial Service, Inc. (grave marker) Linda N. Nopson (reimbursement for food) Barbara Neusbaum (reimbursement for cards) Bethel Assembly of God Women's Food Committee 1,972.76 213.06 170.00 47.15 40.00 150.00 1. 4 5 6 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) Social Security Number(s)/EIN Number of Personal Representative(s) Street Address City . State Zip Year(s) Commission Paid: 2. Attorney Fees 7,500.00 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State .Zip Relationship of Claimant to Decedent 4. Probate Fees 590.00 5. Accountant's Fees 250.00 6. Tax Return Preparer's Fees 7. The Sentinel (legal advertising) 238.67 8 Cumberland Law Journal (legal advertising) 75.00 9 SW. Barrett Appraisals 575.00 TOTAL (Also enter on line 9, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 11,821.64 REV-l512 EX+ (12-03) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS ESTATE OF Ellen M. Neusbaum FILE NUMBER 21-07-0291 Report debts Incurred by the decedent prior to death which remained unpaid as of the date of death, Including unrelmbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. North Middleton Authority (water and sewer service for 231 Bellaire Park Road) 73.50 2 Continuing Care RX (prescription medications) 341.16 3 Barbara A. Neusbaum (reimbursement for stone to road to 231 Bellaire Park Road) 30.00 4 Embarq (telephone service) 25.48 5 PPL Electric Utilities (electric service) 8.06 6 Carlisle, Borough (decedent's personal tax 2007) 4.90 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 483.10 REV-1513 EX+ (9-00) '*' COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE J BENEFICIARIES ESTATE OF Ellen M. Neusbaum FILE NUMBER 21-07-0291 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 2 Barbara A. Neusbaum, 336 F Street, Carlisle, PA 17013 daughter 1/6 3 James L. Neusbaum, 113 Fourth Street, Boiling Springs, PA 17007 son 1/6 4 Richard G. Neusbaum, 476 Bumthouse Road, Carlisle, PA 17015 son 1/6 5 Mary E. Reneker, 1509 Terrace Avenue, Carlisle, PA 17013 daughter 1/6 6 Linda N. Nopson, 1906 George Avenue, Carlisle, PA 17013 daughter 1/6 7 John W. Neusbaum, 123 Limeklin Road, Carlisle, PA 17015 son 1/6 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET " 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 $ (If more space is needed, insert additional sheets of the same size) = ___J . LAST WILL AND TESTAMENT OF ELLEN M. NEUSBAUM I, Ellen M. Neusbaum, of Cumberland County, Pennsylvania, being of sound mind, memory and understanding, do hereby make, publish and declare this as and for my Last Will and Testament, hereby revoking all other wills and codicils heretofore made by me. FIRST I direct the payment of my legally enforceable debts and the expenses of my last illness and funeral from my estate as soon after my death as conveniently may be done. SECOND I give, devise and bequeath my entire estate of whatever nature and wherever situ'ate to my six children, James L. Neusbaum, Linda R. Nopson, Mary E. Reneker, John W. Neusbaum, Barbara A. Neusbaum and Richard G. Neusbaum, in equal shares, per stripes. THIRD I direct that no trustees, executors, guardians or other fiduciary named, nominated, or appointed by this my Last Will and Testament shall be required to post any bond or give any security of any type for any purpose whatsoever, any law or rule "J of the court of the Commonwealth of Pennsylvania or any other jurisdiction to the contrary notwithstanding. FOURTH Any and all payment or payments of any sum or sums, whether in cash or in kind and whether for principal or income, payable to an heir, or any of them, shall be made upon the sole receipt of the respective individual to whom the payment is made, and free from anticipation, alienation, assignment, attachment, and pledge, and free from control by the creditors of any such beneficiary. FIFTH I appoint my daughter, Linda R. Nopson, and my son, John W. Neusbaum, Co-executors of this my Last Will and Testament. Should either of my said Executors fail to survive me or for any reason fail to qualify as Executor, then the other Executor appointed by me herein shall serve alone as Executor. IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will and Testament, consisting of three (3) typewritten pages, the first page of which bears my signature in the margin for the purpose of identification, this 26th day of June, 2001.' ~ '7n.'7~(SEAL) Ellen M. eusbaum Signed, sealed, published and declared by the above named testatrix, Ellen M. Neusbaum, as and for her Last Will and Testament, in the presence of us, who, at her request, in her sight and presence, and in the sight and presence of each other, have hereunto subscribed our names as witnesses. ~Il~ ADDRESS Zt:JO F4,'('v.'4A/ 51. tAr hs/~ fit 1"70'? {If'rlJ...A.h_);?' ~~(ADDRESs617 N. iutti(Ht+ St.,' Mf.Holly S~'1s.,PA- 170~.f; COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND We, Ellen M. Neusbaum, M/~{.I A. 5.~cYvand IItYJtll1lidJ L. f1rh~( 58. the testatrix and the witnesses, respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the testatrix signed and executed the instrument of her Last Will and Testament, and that she signed willingly and that she executed as her free and voluntary acHor the purposes therein expressed, and that each of the witnesses, in the i I presence and hearing of the testatrix, signed the Will as witnesses, and that to the best of their knowledge, the testatrix was at the time eighteen (18) years of age or older, of sound mind and under no constraint or undue influence. Sworn to and subscribed before me this 26th day of June, 2001. , I " Notarial Seal Jennifer S. Undsay, Notary Public CarlIsle Bom, Cumberland County My Commission Expires Nov. 29, 2003 I Member, Pennsylvania Association 01 Notaries ,-\ S. W. Barrett Real Estate & Appraisal Services SUMMARY REPORT Fie No. 07-0142 APPRAISAL OF LOCATED AT: 231 Bellaire Park Road Carlisle, PA 17013 FOR: O'Brien Baric & Scherer 19 West South Street Carlisle, PA 17013 BORROWER: Ellen M. NEUSBAUM (Estate) AS OF: March 22, 2007 BY: Cassandra J. Crockett Certified Residential Appraiser S. W. Barrett Real Estate & Appraisal Services SUMMARY REPORT File No. 07-0142 04/23/2007 O'Brien Baric & Scherer 19 West South Street Carlisle, PA 17013 File Number: 07-0142 In accordance with your request, I have appraised the real property at: 231 Bellaire Park Road Carlisle, PA 17013 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 improvemenls. In my opinion, the market value of the property as of March 22,2007 is: $85,000 Eighty-Five 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 subm itted, ~cP,~ Certified Residential Appraiser SUMMARY APPRAISAL REPORT UNIFORM RESIDENTIAL APPRAISAL REPORT SUMMARY REPORT 'ProD.ertv DescrlDtlon File No. 07-0142 Prooertv Address 231 Bellaire Park Road City Carlisle State PA ZinCode 17013 leoal Descrintion Deed Book 20-G: Paae 924 County Cum berland Assessor's Parcel No. 29-16-1097: 049 Tax Year 06/07 R.E. Taxes $ 840.00 Special Assessments $ N/A Borrower Ellen M. NEUSBAUM tEstate) Current Owner Forrest Neusbaum Occupant: 1 Owner r 1 Tenant r xl Vacant .. Pronertv riohts annraised I X I Fee Simole I I Leasehold I Proiect Tvoe r 1 PUD r Condominium (HUDNA onlv) HOA$ N/A /Mo. Neiohborhood or Proiect Name North Middleton Two Mao Reference 16-1097 Census Tract 0119.00 Sale Price $ N/A Date of Sale N/A Descriotion and $ amount of loan charaes/concessions to be paid by seller N/A lender/Client O'Brien Baric & Scherer Address 19 West South Street Carlisle PA 17013 Annraiser Cassandra J. Crockett Address Location 0 Urban l!J Suburban [j Rural Predominant Single family housing Present land use % Land use change Built up 00 Over 75% 0 25-75% Under 25% occupancy PRICE AGE One family 76% o Not likely 0 Likely $(OOO) (yr.) Growth rate 0 Rapid 00 Stable 0 Slow 00 Owner 55 Low New 2-4 family 0% 00 In process Prop"" ,,'," ~ ''''''''''''' 0 S~b. 0 """'''' o Tenant 200+ Hioh 100 Multi-family 1% To: Residential Demand/supply Shortage 00 In baIcr1ce 0 <Mr Sllpptj ~ Vacant(0.5%) ~ Predominant ~il~~1 Commercial 3% Marketino time Under 3 mos. iXi 3-6 mos. n Over 6 mos. Vacantlover 5%\ 120 I 50 ~ Vacant I 20% Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries and characteristics: Subject is bounded on the north by Longs Gap Road' on the east by Rt.34' on the south : bv Pa.TurnDike' and on the west by Rt.74. ~ Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): . Subiect DroDertv is located in an eXDandina area of sinale family homes and farms alona the Conodoauinet Creek. ShoDDina . .. and other amenities are within a short drivina distance. School system is Carlisle District and local elementarv school is within .75 mile. SMSA 42-3240. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time - - such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.): Prooertv values are currently stable with an averaae marketina time of 80-100 days. Economic trends and lendina rates haye remained favorable. Sales concessions occur infreauentlY. There are new homes under construction in surroundina develoDments as well as resales available in the neiahborhood. . Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? DYES ONO . Approximate total number of units in the subject 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 leaal descriDtion/tax maD Topography Level to sloDlna Site area 1.01 Acres M/L Corner lot 0 Yes l!J No Size Laraer than normal Specific zoning classification and description R-1 Suburban Residential Shape Rectanaular Zoning compliance 00 Legal 0 legal nonconforming (Grandfathered use) TI Illegal U No zoning Drainage ADDears adeauate Hiahest & best use as imoroved: fXT Present use n Other use (exolain) View Residential/Creek Utilities Public Other Off-site Improvements Type Public Private landscaping TYDical Electricity 00 100 amp Street Gravel B 00 Driveway Surface Stone Gas 0 Curb/gutter None 0 Apparent easements None Aooarent Water DWell Sidewalk None 0 0 FEMA Special Flood Hazard Area 00 Yes 0 No Sanitary sewer ~ Street lights None R R FEMA Zone AlB/C Map Date 4/1/1982 Storm sewer Alley None FEMA Map No. 420367 A Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): Wells are common for area and have no adverse affect on marketabilitv. There are no adverse easements. encroachments or other adverse conditions. Site abuts Conodoauinet Creek imorovements aooear to be built above flood Dlain. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDA nON BASEMENT INSULATION No. of Units One Foundation Block/Ava Slab None Area Sq.Ft. N/A Roof 0 No. of Stories One Exterior Walls Frame/Ava (}ocrM Space Partial % Finished N/A Ceiling 8 Type (Det./Att.) Detached Roof Surface Metal/Ava Basement None Ceiling N/A Walls Design (Style) Cottaae Gutters & Dwnspts. Aluminum/A~ Sump Pump None Walls N/A Floor __0 Existing/Proposed Existina Window Type Wooden/Ava Dampness None Obs. Floor N/A None 00 Age (Yrs.) 100 Yrs+/- Storm/Screens Screens/Ava Settlement None Obs. Outside Entry N/ A Unknown 0 Effective Aoe Yrs.) 20-25 Manufactured House No Infestation None Obs. . ROOMS Fover Livino Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundry Other Area So.Ft. . Basement . Level 1 1 1 2 1 840 . Level 2 . . Finished area above arade contains: 4 Rooms' 2 Bedroom s): 1 Bath{s); 840 Souare Feet of Gross Livino Area . INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATIlC AMENITIES CAR STORAGE: Floors Wood/Ava Type Stv/FP Refrigerator 0 None 0 Fireplace(s) # Brick 00 None 0 . Walls Wood/Ava Fuel Wood Range/Oven 00 Stairs 0 Patio 0 Garage # of cars Trim/Finish Wood/Ava ConditionFair Disposal 0 Drop Stair 00 Deck 0 Attached Bath Floor Wood/Ava COOLING Dishwasher 0 Scuttle 0 Porch Screened 00 Detached 1 Bath Wainscot Wood/Aya Central None Fan/Hood ~ Floor 00 Fence 0 Built-In Doors Wooden/Ava Other None Microwave Heated R Pool ~ Carport Averaae Condition Condition N/ A WasherlDrver n Finished Frame oavillion Drivewav 21Stone Additional features (special energy efficient items, etc.): Vaulted ceilinas In most rooms. ooen-beam construction' sleeDina loft over bath: oriainal Dlumbina fixtures' hatches to crawl space for access to olumbina: screened oorches' Davillion: frame aarden shed. Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction remodeling/additions, etc.: 1m Drove ments are in averaae condition. well maintained. Seasonal cottaae used in summer months only: no central heatlna rwood stove In kitchen and fireDlace utilized as needed1. . Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of the subject property: No adverse environmental conditions are aooarent/disclosed. Fr_. Mac FOfm 70 6-93 PAGE 1 OF 2 Produced using ACI software, 600.234.8727 www.aciweb.com Fanni. Ma. FOfm 1004 6-93 Valuation Section SUMMARY APPRAISAL REPORT UNIFORM RESIDENTIAL APPRAISAL REPORT SUMMARY REPORT File No 07-0142 ESTIMATED SITE VALUE. . . . . . . . . . . . . . . . . . . . . . . . . . . = $ ESTIMATED REPRODUCTION COST.NEW OF IMPROVEMENTS: Dwelling Sq. Ft. @ $ = $ Sq. Ft. @ $ = 45 000 Comments on Cost Approach (such as, source of cost estimate, sitevalue, square foot calculation and for HUD, VA and FmHA. the estimated remaining economic life of the property): Cost ADDroach [from Marshall/Swift Valuation Service handbook and local cost analysisl was considered. but deemed not credible due to the aae of the imDrovements. Site value from Market Data. Deoreciation based on agellife. observed condition. and Market Data Analysis. Estimated remainina Economic Life is 30-35 years. . , = : GaragelCarport _ Sq. Ft. @ $ = Total Estimated Cost New = $ . Less Physical 'j Fu'n~tio'n~" f . E~~r~~i . Est. Remaining Econ. Life: Depreciation I = $ Depreciated Value of Improvements . . . . . . . . . . . . . . . . . .. = $ "As-is" Value of Site Improvements. . . . . . . . . . . . . . . . . .. = $ INDICATED VALUE BY COST APPROACH. . . . . . . . . .. = $ N/A ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 231 Bellaire Park Road 291 Bellalre Park Road 659 Hamilton Street 110 Meadowbrook Road ~d.. N.Mlddl~~~IN.Mlddl~n~rll.l. Proximitvto Subiect . 0.04 MISE 1.7 MISE 2.9 MI WSW Sales Price $ N/A . $ 86 500 $ 90 900 $ 82 500 Price/Gross Liv. Area $ 0.00 It! $ 135.16 It! $ 108.21 It! $ 112.24 It! Data and/or Inspection Appraiser's datal Verification Sources Crt. HS.Records MLS/Courthouse Records MLS/Courthouse Records MLS/Courthouse Records VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I + (-) $ Adiustmonl DESCRIPTION I +1-ISAdjustment DESCRIPTION I +(-\$ Ad'ustment Sales or Financing None, Conv: None, Conv: None, Cony : Concessions DOM 12: DOM 5 : DOM 5 : Date of SalelTime , 4/05 : 6.632 6/06 : 5/06 : Location Suburban Suburban I Suburban I Suburban I LeasehciiJfeeSimIe. Fee Simole Fee Simole: Fee SimDle: Fee SimDle : Site 1 Acre+/- .77 Acre+/-: 0 .17 Acre+/- : 8,500 .22 Acre+/- : View Resid/Creek Resid/Creek' Residential' Residential: Desian and Aooeal Cottaae/Ava Cottage/Avg: 1 Story/Ava: 1 Story/Ava : OuaiIvofConstrudion Ava/Frame Avg/Frame: AvaNinyl: AvgMnvl: Aae 100 Yrs+/- 66 Yrs ' 54 Yrs I 57 Yrs ~ Condition Averaae SUDerlor : -5,000 Suoerior : -5,000 SUDerior : I Above Grade ToIal I B~ms: Baths Total I ~s I Bsths : Total ' Bdrms' Boths : Total I B~ms I Baths : . Room Count 3( 4: 2: 1.00 4: 2: 1.00' 4: 2: 1.00 I 4: 2: 1.00' . Gross Livina Area 840 Sa.Ft. 640 So.Ft.: 6.000 840 So.Ft. : 0 735 So.Ft. : ~ Basement & Rnished Crawl Space Crawl Space: Full Bsmtl : -5,500 Crawl Space : Rooms Below Grade Unfinished : Some Finish ' , . Functional Utilitv Seasonal SUDerior : -10.000 SUDerior : -10000 Suoerior : Heatino/Coolina Wood Stv/FP EBB/None : -1,000 OFHAlCA : -2 500 EBB/None : · Enerav Efficient Items TVDical TVDical I TVDical I Typical I Garaae/Caroort 1 Car Gar/Shed OSP : 3 500 CarDort : 2 500 OSP : Porch, Patio, Deck, Scrnd.Porches/ Sun Room/FP: 0 Porches/FP : 2,000 Stoops/Shed : Fireolacels\, etc. Pavillion/FP , , , Fence, Pool, etc. None None : None : None : Public Sewer Public Sewer: 0 Public Sewer: 0 Public Sewer: 0 Net AdUtotal\ X + - '$ 132_X - : $ 10.00011II+ . '$ 1.700 Adjusted Sales Price of Comoarable $ 86,632 $ 80,900 $ 84.200 Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): All com parables are similar in location to the subiect DroDertv. are verified closed sales and are the best currentlv available. Limited sales of waterfront oroDerties have recentlv occurred. sale #1 is the most recent alona this section of the Conodoauinet Creek. Sales #2 & 3 are similar in Iivina SDace and room count. All of the comoarable sales were eauioed with modern kitchen and bath, adlustment taken under condition. Annual adiustment taken at 4% for sale over one year. Surolus land adjusted at $10,OOO/acre. Adjusted ranae of value is $80.000 to $87 000. ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 Date, Price and Data 11/22/2002 Source for pricf sales None None $72,000 None \Whin vear of aooraisal CHR Courthouse Records Courthouse Records Courthouse Records Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal: No further recent recorded transfers were found. 8.000 -5.000 3200 -10.000 -1.000 3.500 3,000 COMPARABLE NO.3 INDICATED VALUE BY SALES COMPARISON APPROACH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 85.000 INDICATED VALUE BY INCOME APPROACH (If Aoolicable\ Estimated Market Rent $ N/A IMJ. x Gross Rent Multiolier N/A = $ N/A This appraisal is made 00 "as is" 0 subject to the repairs, a~erations, inspections or conditions listed below U subject to completion per plans and specifications. CondilionsofAppraisal: The orooertv has been aooraised in current condition. This appraisal is for client only. nontransferable. See attached addendum. Final Reconciliation: Market Analysis consistentlv SUDDOrts mv estimated market value. Cost Approach and GRM analvsls were found inaoorooriate for this analysis. Greatest weight is aDPlied to the Market Data Analysis. Supporting 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 certification, contingent and limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439lFannie Mae Form 10048 (Revised 6/93 ). I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 3/22/2007 · (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE!,... 85.009-.----~ . , APPRAISER: /) J 0 /') /J .. A SUP~~)lISORYAPPRAI~R IoNj Y IF RequJJlED): Sianature I;" " " - ./1/.. A . {....::;..--. ~ ^ --ttr' SiQnawr'e)-,-- ... !----.J 1/ - I I Name Cassandra J. Crockett /' ./ Name Steven W. Barrett, SRPA, BRA Date Report Signed 04/23/2007 Date Reoort Sianed 04/23/2007 State Certification # RL-001348-L State PA State Certification # GA-000298-L Or State License # State Or State License # RB-026921-A Fredde Mac Form 70 &-93 Certified Residential PAGE 2 OF 2 Certified General APp Produced using ACI tollw...., 800.234.8121 WWW.eciwab.com ODid OODid Not Inspect Property State PA State PA raiser Fannie Mae Form 1004 &-93 Appraiser S. W. Barrett Real Estate & Appraisal Services Sketch by Apex IV Windows 1M AREACA1..CUl.J.A;hONssUMMARY. Code .... DescrlptJoI1 SID TOtals GLAl First Floor 840.00 840.00 pIp Screened Porch 99.00 Screened Porch 252.00 351.00 Borrower: Ellen M. NEUSBAUM (Estate) Property Address: 231 Bellaire Park Road City: Carlisle Lender: O'Brien Baric & Scherer TOTAL LIVABLE (rounded) FLOORPLAN State: PA File No.: 07-0142 Case No.: SUMMARY REPORT Zip: 17013 , I Screened Porch b ai 28.0' . I b -i b '- lri Bedroom Living Room b , lri I I Bath I ~- - b ~ b Kitchen tD Bedroom 28.0' I Screened ~ Porch ~ ~ 9,0' LIVING" AREA BREAKDOWN Breakdown Subtotals First Floor 0.5 x 2.0 x 2.0 2.00 0.5 x 2.0 x 2.0 2.00 2.0 x 5.0 10.00 0.5 x 2.0 x 2.0 2.00 2.0 x 5.0 10.00 28.0 x 29.0 812.00 0.5 x 2.0 x 2.0 2.00 840 7 Areas Total (rounded) 840 Borrower: Ellen M. NEUSBAUM (Estate) Ji>roperty Address: 231 Bellaire Park Road City: 'Carlisle Lender: O'Brien Baric & Scherer State: PA Zip: 17013 File No.: 07-0142 Case No.: FRONT VIEW OF SUBJECT PROPERTY Appraised Date: April 3, 2007 Appraised Value: $ REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: Ellen M. NEUSBAUM (Estate) Property Address: 231 Bellaire Park Road m:J::_C'lr!i~k_____.__._________________._________ Lender: O'Brien Baric & Scherer File No.: 07-0142 Case No.: Stat~x~________~ 17Q13_____________ Borrower: Ellen M. NEUSBAUM (Estate) Property Address: 231 Bellaire Park Road City: Carlisle Lender: O'Brien Baric & Scherer State: PA File No.: 07-0142 Case No.: Zip: 17013 Borrower: Ellen M. NEUSBAUM (Estate) Property Address: 231 Bellaire Park Road City: Carlisle Lender: O'Brien Baric & Scherer File No.: 07-0142 Case No.: State: PA Zip: 17013 Borrower: Ellen M. NEUSBAUM tEstate) Prooertv Address: 231 BeIJaire Park Road ~~arlisle Lender: O'Brien Baric & Scherer - ---- - - ---. -.. .---..--.... State: PA Fife No.: 07-0142 . Case No.: SUMMARY REPORT Zip: 17013 COMPARABLE SALE #1 291 Bellaire Park Road N. Middleton-Carlisle Sale Date: 4/05 Sale Price: $ 86,500 COMPARABLE SALE #2 659 Ham ilton Street N.M iddleton-Carlisle Sale Date: 6/06 Sale Price: $ 90,900 COMPARABLE SALE #3 110 Meadowbrook Road N.Middleton-Carlisle Sale Date: 5/06 Sale Price: $ 82,500 Borrower:'EUen M. NEUSBAUM (Estate) Property Address: 231 BeUaire Park Road City: Carlisle Lender: O'Brien Baric & Scherer I ~, I \ ""~ '1' ;'\ oo~ ~ I o. I 'YA; '-......, "'\\ <f ~ ~\h '~~~~D // III '" / ,'} / \ ......-7... .:r / '\ I' .~( "- / .... " '" ] ~ ~ .... ....... .... -- AL TERS" \ i , I 1 J / I ! / I I / / --,.-.-/ "" - LOCATION MAP State: PA File No.: 07 -0142 Case No.: SUMMARY REPORT Zip: 17013 //\ ,\,0tb ,./--~\ <~ I -- \. \~Q-1A "g,f': \ "'0 8', \ "- "\~J '~' ~ o()~ ./ \ t\ "'~....... ", ' ~ ~ '\ \. ., '\ MEtr INf'''' " VHOljSi: '~J___..f-",,__ \ \ ~ DYARMAN R - j~ ,I I <'. J ....,~.? / _..[! -r'-- / /' I ---- y \._~ ~ o~ / .~/ ,,(, . ./ ~ .---' <:. \. y ~G. \l: <;I'''~''''''' C)1984 2004 ~s NA. INC '(.~~ \~~~ '?-\ /"-- Sl'l< ". "\.E.:I.,,,OE. " Prepared by: Steven W. Barrett R.E. Appr. Svc. (717) 243-6646 liD Address Date Price RM BR Bath SqFt Proximity' s 231 BELLAIRE PARK RD N/A 'RIA 4 2 1 840 0.00 MI S 1 291 BELLAJ:R,e; PARK RD 4/05 86500 4 2 1 640 o . 04 141 Se: .2 659 JiAMIL'I'Ol'l S'I' 6/06 90900 4 2 1 840 1.7 Ml SE 3 110 MEADOWBROOK RD 5!06 82500 4 :2 1 735 2 .9 }OlI WSW \ \ \ ~ ~;'p '?4-, <<'J' ~ ~/ ~;~ ( - "* o . N :t- CI,) :t- O - Q. >< LaJ u :t- ct - 0::: (/) LaJ I' 0 0 "..... N ...... 0 I CL (Y) I... 0 "..... ro Z ..... ,.-... ~ x ..... W ,.-... (J) x ..... (J) >; 0.... x I- 0.... (J) '-' I- ro ::s f- 0 '-' lD -C '-' c E I... "C < c ..... U LL "a.. 0 :g ro ~ ~ ..... ..... itl ro () ro ro ~ ~ ~ .~ ...... ...... (/) ...... ...... VI VI ---l VI VI w Q3 (J) Q3 (J) u () u u u ..... ..... 0::: ..... ..... ro ro < ro ro 0- 0- 0.... 0- 0- 0 "'C n:J o a:: ~ :lo.. n:J Q. CI) :lo.. .- n:J CI) In .... M N ZONE C ZONE C 0 0 LANE C SUSAN Gl r m J> r ... CIl J> 0 ~ Z 0 m .( m :JJ ~ MOUNTAIN J> VIEW LANE " .( PEAFlL r c::::::::JFl1VE 0 '0 J> :JJ :II Z _ < m ~ m CHE TEfl ~ --/ t"Ht:AlSAI'l1 Op.\ ~ ACCESS IL ELEVATION REFERENCE MARKS SUMMARY REPORT file No. 07-0142 ********* QUALIFICATIONS ********* .The following check~d items are SPECIFIC SPECIAL CONDITIONS that were identified by this appraiser during the inspection of the subject property, the com parables sales, and their neighborhoods and locations. Unless otherwise noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home inspection service. This is an appraisal to estimate market value. _1. The subject is located In a rural area and is less than 25% built-up. _x_2. Commercial/Industrial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods. _x_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. _x_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. _x_7. The subject property is serviced by private well and/or septic systems which Is common for the area. _x_8. The subject is older than five(5) years. All mechanical systems including the heating, electrical and plumbing systems appear upon a visual exterior inspection to be in working order. No warranties are implied in this statement. _9. Repair items were noted in the comments section of the report. These comments on repair items are for descriptive purposes only and are not required repairs. The items listed are cosmetic in nature. _10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a health or safety hazard. _x_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 com parables on that individual rating. All comparables 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 comparables used are the best available. _x_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 comparables used are located in similar neighborhoods and within the same marketing area. All com parables used are the best available. _18. The electrical system was not connected during inspection. _19. The water service was not connected during inspection. _20. The heating system was shut down during inspection. _21. Roofing_Plumbing_Electrical_Heating_certification(s) is/are suggested. _x_22. Inground swimming pool_, out bulidings_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. 07-0142 ********* QUALIFICATIONS ********* _24. The subject property is located on a private road. _25. Wood infestation inspection is suggested. _26. Last 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. Seller is paying part or all of closing costs. _x_29. All comparable sales are verified closed sales. _x_30. There are no special conditions or other requirements that would affect market value or future marketability In the Appraisal Report. CHECKED ITEMS ARE SPECIFJC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. SUMMARY REPORT File No. 07-0142 *",'uuut. QUALIFICA liONS *Aut.Utdl Confidentiality and Security Polley 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 nonpubllc 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 confientiallty. 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. 07-0142 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions. granted by anyone associated with the sale. · Adjustments to the com parables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the Appraiser's judgment. . STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the fi~m with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Form 100486-93 SUMMARY REPORT File No. 07-0142 APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to , or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree ,to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 231 Bellalre Park Road, Carlisle, PA 17013 APPRAISER: SUPERVISORY APPRAISER (only If required) ~~ 0/7 ' . Signature: ---- - V......., ff Name: Steven W. Barrett, SRPA, SRA Date Signed: 04/23/2007 State Certification #: GA-000298-L or State License #: RB-026921-A State: PA Expiration Date of Certification or License: 06/30/2007 o Did 00 Did Not Inspect Property Signature: ~At'~A-/f). ~#- Name: Cassandra J. Crockett Date Signed: 04/23/2007 State Certification #: RL-001348-L or State License #: State: PA Expiration Date of Certification or License: 06/30/2007 Certified Residential Appraiser Freddie Mac Form 439 6-93 Certified General Appraiser Page 2 of 2 Fannie Mae Form 100486-93 .. s. W. Barrett Real Estate & Appraisal Services SUMMARY REPORT File No. 07-0143 APPRAISAL OF LOCATED AT: Bellaire Park Road [Spencer Baird Drive] Carlisle, PA 17013 FOR: O'Brien Baric & Scherer 19 West South Street Carlisle, PA 17013 BORROWER: Ellen M. NEUSBAUM (Estate) AS OF: March 22, 2007 BY: Cassandra J. Crockett Certified Residential Appraiser S. W. Barrett Real Estate & Appraisal Services SUMMARY REPORT File No. 07-0143 04/23/2007 O'Brien Baric & Scherer 19 West South Street Carlisle, PA 17013 File Number: 07-0143 In accordance with your request, I have appraised the real property at: Bellaire Park Road [Spencer Baird Drive] Carlisle, PA 17013 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 March 22, 2007 is: $42,500 Forty-Two Thousand Five Hundred 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~J'~ Certified Residential Appraiser r SUMMARY REPORT S. W.Barrett Real Estate & Appraisal Services LAND APPRAISAL REPORT File No 07-0143 ProPerty Address Bellaire Park Road [Spencer Baird Drivel Census Tract LENDER DISCRETIONARY USE City Carlisle County Cum berland State PA Zip Code 17013 Sale Price $ Leaal Description Deed Book 29-U: Page 783: Parcel # 29-16-1097-048 Date Owner/Occupant Neusbaum, Forrest & Ellen Ma Reference 16-1097 Mortgage Amount $ .. Sale Price $ N/A Date of Sale N/A Property Rights Appraised Mortgage Type Loan charaes/concessions to be paid by seller $ N/A 00 Fee Simple Discount Points and Other Concessions R.E. Taxes $ 449.00 Tax Year 06/07 HOA $/Mo. N/A 0 Leashold Paid by Seller $ Lender/Client O'Brien Baric & Scherer IR Condominium (HUDNA) 19 West South Street. Carlisle. PA 17013 PUD Source LOCATION W Urban ~ Suburban L,. Rural NEIGHBORHOOD ANALYSIS Good AVlI. Far Poor BUILT UP 00 Over 75% o 25-75% o Under 25% Employment Stability ooOOB GROWTH RATE o Rapid 00 Stable o Slow Convenience to Employment ooOB PROPERTY VALUES 00 Increasing o Stable o Declining Convenience to Shopping 000 B DEMAND/SUPPLY o Shortage 00 In Balance o Over Supply Convenience to Schools 0000 MARKETING TIME n Under 3 Mos. fXj 3-6 Mos. n Over 6 Mos. Adequacy of Public Transportation fijOOO . PRESENT LAND USE % LAND USE CHANGE PREDOMINANT stG.E FAMD.. YHOUSING Recreation Facilities XOOOB . . Single Family 76% Not Likely 0 OCCUPANCY PRICE AGE Adequacy of Facilities 0000 ~ 2-4 Family 0% Likely 0 Owner 00 $(000) (yrs) Properly Compatibility 000B8 .. Multi-Family 1% In process 00 Tenant 0 55 Low New Protection from Detrimental Condo 000 Commercial 3% To: Residential Vacant (0-5%) 00 200+ High 100 Police & Fire Protection 00000 Industrial 0% Vacant (over 5%) 0 Predominant General Appearance of Properties R~RR Vacant 20% 120- 50 Appeal to Market Note: Race or the racial composition of the neighborhood are not considered reliable appraisal factors. COMMENTS Subject property is located in an expanding area of single familv homes and farms alona the Conodoguinet Creek. ShoDDing and other amenities are within a short driving distance. Schoolsvstem is Carlisle District and local elementary school is within .75 mile. SMSA 42-3240. Dimensions See legal descriDtion/tax map Topography Level to sloping Site Area 0.92 Acre M/L Corner Lot No Size Larger than normal Zoning Classification R-1 Suburban Residential Zoning Compliance Yes Shape Rectanaular HIGHEST & BEST USE: Present Use Other Use Residential Drainage ApDears adeauate UTILITIES Public Other SITE IMPROVEMENTS Type Public Private View Residential/Creek Electricity 0 Street Gravel 0 ~ Landscaping TVDical Gas 0 Curb/Gutter None 0 Driveway Stone Water 0 Well Sidewalk None 0 0 Apparent Easements None Apparent Sanitary Sewer 00 Street Lights None R R FEMA Flood Hazard Yes' X No Storm Sewer n Alley None FEMA'MaplZone 420367A1Zones A.B.C Comments (Apparent adverse easements, encroachments, special assessments, slide areas, etc.): Wells are common for area and have no adverse affect on marketability. There are no adverse easements encroachments or other adverse conditions. Site abuts the Conodoauinet Creek. This site is adjacent to 231 Bellaire Park Road. but is carried on tax records as SDencer Baird Drive. The undersigned has recited three recent sales of properties most slmlliar and proximete to subject and has considered these in tha market analysis. Tha description includes a dollar adjuslment, reflecting market reaction to those lIems of significant variation between the subject and comparable properties. If a significant item in the comparable property Is superior to, or more favorable than, the subject property, a minus (.J adjustment is made, thus reducing the indicated value of subject; if a significant item in the comparable Is Inferior 10, or Ie.. favorable than, the subject property, a plus (+) adjustment is made. thus increasing the Indicated value of the subject. ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 Bellaire Park Ro Bellaire Park Rd Prickley Pear Drive Prickley Pear Drive Address Carlisle Carlisle Carlisle Carlisle Proximitv to Subject . 0.06 MI SE 0.56 MI NNW 0.58 MI NNW Sales Price $ N/A .......',............. $ 42 000 .i..:....,.......:.:...ii. $ 70 500 .... .... ..' $ 47.500 Price/ $ tlI $ 45 652/Acre tlI....').;;.':J.:: ::::/. $ 58 264/Acre tlI...;.....: ...... ..... $ 49.479/Acre tlI .... Data Source Courthouse Records Courthouse Records Courthouse Records VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I <{-)$ Adjustment DESCRIPTION I <{-)$ Adjustment DESCRIPTION I <{-)$ Adjustment · Sales or Financing None, Conv , None,Conv , None,Conv , , , , , , , . Concessions .. ,.. , , , Date of SalelTime 10/06 , 12/06 , 1 0/06 , , , , . Location Suburban Suburban , Suburban , Suburban , .92 Acre+/- .92 Acre+/- , 1.21 Aces+/- , .96 Acre+/- , Site/View , , , Topoaraphy Level to sloDing Level to sloDina , Level to slopina , Level to slopina , , , , Utilities Well/Pub. Sewer Well/Pub.Sewer , Public W/S -10% ' -5 826 Public W/S -10% : -4 948 Zoning SuburbanResid Suburban Resid. , Suburban Resid. : Suburban Resid. : , Access Priv.Grvl.Lane Priv.Grvl.Lane , Pvd.Public St.-50/. : -2913 Pvd.Public St.-50/.: -2.474 , Net Adi. (total) ....i.....;;e.;:....i.....'].. .......ii...... X + l - '$ o I + IXI- '$ 8739 [ 1+ [xl- '$ 7.422 Indicated Value > "i.:..'; ....... ':~I$ Gro~s: . ..... '-~~JI Gross: 15:01 ...... -15.0 $ of Subiect Net: ". 45 652 Net:>. $ 49.525 Net: 42.057 Comments of Sales Comparison: All com parables are similar in location to the subject site are verified closed sales. and are the best currently available. Limited sales of creek-side sites occur. sale #1 is the most recent alona this section of the Conodoauinet Creek. Sales #2 and 3 are located in a near-by develoDment. Comments and Conditions of Appraisal: ProDertv has been appraised in "as is" condition. No imDrovements were considered in value reDorted. Appraiser assumes all necessary permits for future building on site are available. Final Reconciliation: Market analvsis SUDDOrts my estimate of market value. Adjusted ranee of value is $42,000 to $50 000 Der acre. · sav $46 000. .92 acre x $46.000 = $42.320 sav $42.500 for the subject site. I (WE) ESTIMATE THE MARKET VALUE. AS DEFINED, OF THE SUBJECT PROPERTY AS OF 3/22/2007 tobeS 42 500 . 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 . "d ,,,,oct"" ,If "m""bl, ..I" clf,d '0 'h', ",ort: "d th,t t (we) h,,, '" ""dI'do'''~1 m .""0. . App,,''''') ~'<AM -i" /.f). a... /is. tf-."". A",,,,,, :.=> ~ 1.-- Tf o Did 00 Did Not Cassandra J. Crockett (if applicable) Steven W. BarrettfSRPA. SRA ASA Inspect Properly Proprietary Land Form 04188 Certified Residential Appraiser Produced usinoACI sollwwe, 000.234.8727 wwwaciweb.com Certified General Appraiser S. W. Barrett Real Estate & Appraisal Services Borrower: Ellen M. NEUSBAUM (Estate) Property Address: Bellaire Park Road [Spencer Baird Drive] fC' Ity: Carlisle . _ Lender: O'Brien Baric & Scherer State: PA Zip: 17013 File No.: 07-0143 Case No.: FRONT VIEW OF SUBJECT PROPERTY Appraised Date: April 3, 2007 Appraised Value: $ REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: Ellen M. NEUSBAUM (Estate) Property Address: Bellaire Park Road [Spencer Baird Drive] City: Carlisle Lender: O'Brien Baric & Scherer State: PA Zip: 17013 1 I L_ File No.: 07-0143 Case No.: LOCATION MAP Borrower: Ellen M. NEUSBAUM (Estate) Property Address: Bellaire Park Road [Spencer Baird Drive] City: Carlisle Lender: O'Brien Baric & Scherer I _~_"",.,..r State: PA File No.: 07...0143 Case No.: Zip: 17013 ~. '" "\" \ \ \ \ \ \ \ \ , , '\ \ \ \ \ \ ~ \ //-.~----,-- \ " / -1. -....... \, // // "'-. )(, I ""', i "--{ \ \ \ \, \ \ \ \ i \ \ \ , , '\ ~\ ~ \ ,'" \ \ /'\ ~~\ -' ~ \ ~ \ "& , '~', ) !~\/ " ,~/ I "-." ", :/ I s> " '-.-' / q.; ", !:VV /~ ~. -,_._..~v- / ) ~ l-1 MAP(C}19 Prepared by: Steven W. Barrett R.E. Appr. Svc. (717) 243-6646 --......,.<0 \ / ~ / ,\'fq . " I '~i-"~", ~\." ill ~ . tJ <:l '" <..> g.~ ~ "'f' ", :..v--. \...../ ~ "''''', ~J.' /" .'..... -....". oo\-~\O~ '~/ '-.. "'(/ r~~ \ '\ ~~::'~~0u:''I: /'-, ~0 /~ ~J j-..-- -...'. '-'--... --- / v ~';J --- '. ~ \V ~ ~ \..--- -;. // ,. ~.... ;// '" 4l- // .'" / I I J I +- I ~ ! \ ~I ~ 'I ---, \~ \ r ~-... ._~~ ' ~~\ , OR \~\ \ ~"\ \~ '\ I:O:::~: J'~ \ ~ \ r / \ \ ~. g~~v,"" ) ) \\ .",,"{, o t;J) -.J t '?, .-\ f:t I ... ! ;f<:j / '~ // J ~ / //~r L ~ -- \ --.... , 110 s 1 2 3 RM BR Bath SqFt Address BELLJURE PARK RD Bella18BLLAIRE PARK RD CARLISLE CARLISLE Oat. N/A 10/06 12/06 10/06 Pt1C11 R/A 42000 705QO 47500 / \~ ~~ ~ ...------\ " " ,\::, ~ \ \ \ CREEK RD rl1 '" -f :r: rl1 '" '" ,. '" ~ ST u /" ProxImity 0.00 MI SA' 0.06 l-'lI SI!: o .56 ,toll NNIll' 0.58 MI NNW EC UL SUSAN r c... )> 0 Z 0 m -< ....I""\~.:.~-:"(,) r )> If) m ~ m :0 ~ MOUNTAIN )> VIEW LANE JJ -< PEARL ~C~::~ Z ~_ m < - CHESiE 1'1 ; o :II < m STRE I'HI:ASANI ~ l ACCESS L o <l: o 0: ~ :'1..0 o J> o - ~ ~ I ^' / EL.EVATION REFERENCE MARKS REFERENCE MARK RM 1 ELEVATION IN FT. INI:';VDI1 411.45 DESCRIPTION OF LOCATION RM2 412.19 USC&GS marker stamped "D 154 1942" located in t east corner of the south abutment of the State Route bridge over Conodoguinet Creek. Box cut painted "BM 4-C" on the northwest corner of 1 ..... ,.- .., ,.... o . N :L- eu :L- o - Q. >< 1.1.I c.J :L- et - Q:: en LaJ r-.... 0 0 ,....... N ~ 0 I (Y) 0... ..... 0 "...... <'G Z ..... "...... ~ X ..... W "...... Q) X :>; +' Q) 0... x l- I- <'G 0... ill '-" "'C I- '-" ::5- '-' 0 E e "C c: U I.J.... <C c: .- i:i <'G ~ "0.. 0 +' +' .- <'G .- <'G <( <'G <'G +-: +-: u +-: +-: ~ ...... (/) ...... ....... en en -l en en Q) Q) w Q) <P u U u u ..... u ..... '- <'G a:: '- <'G <( <'G <'G a. 0.. 0... 0.. a. D Q) > .- :lo.. C "'C :a... .- ~ OJ :a... Q) u c Q) a. en ..., o ..., c ~ u ~ > SUMMARY REPORT FOe No. 07-0143 ********* QUALIFICATIONS ********* The following checked items are specific special conditions that were identified by this appraiser during the inspection of the subject property, the com parables sales, and their neighborhoods and locations. Unless otherwise noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home inspection service. This is an appraisal to estimate market value. _1. The subject is located in a rural area and is less than 25% built-up. _x_2. Commercial/Industrial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods. _x_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 oUhe market value oUhe subject property. This is due to the very wide range of value of properties in the area and superior quality of the subject property. _X_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. · _x_7. The subject property is serviced by private ~I 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. _10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a health or safety hazard. _11. The subject property does contain functional obsolescence as noted In the report. This condition is considered typical and common for the area and this style dwelling. _12. The land value exceeds 30% of total value due to the high demand for vacant land in this neighborhood. This condition is considered common and typical for the neighborhood. _13. The land value exceeds 30% of total value. This is due to the large size of the site. This condition is considered to be typical and common. _14. Individual adjustments were required that exceed 15%. These adjustments were required due to lack of more similar com parables on that individual rating. All com parables used are the best available. _15. Total adjustments exceed 25%. This is due to the lack of comparable sales that were more similar in the subject's market area. All com parables used are the best available. _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. _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. I \ I I I I _18. The electrical system was not connected during inspection. _19. The water service was not connected during inspection. _20. The heating system was shut down during inspection. _21. Roofing_Plumbing_Electrical_Heating_certification(s) is/are suggested. 22. Inground swimming pool_, out buildings_are included_,not inclUded_according to lender's guidelines. _23. According to lender's guidelines a maximum of_aeres were considered for this valuation. Remaining acreage was given no value. SUMMARY REPORT File No. 07-0143 ********* QUALIFICATIONS ***",*uu _24. The subject property is located on a private road. _25. Wood infestation inspection is suggested. _X_26. Last recorded deed transfer: Date_6/21/1982 , Consideration: $18,500 _27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like manner. _28. Seller is paying part or all of closing costs. _x_29. All comparable sales are verified closed sales. _x_30. There are no special conditions or other requirements that would affect market value or future marketability in the Appraisal Report. CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. SUMMARY REPORT File No. 07-0143 UUUUl QUALIFICA liONS ****llUU 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. 07-0143 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions. granted by anyone associated with the sale. . Adjustments to the com parables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the Appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that .are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Vacant Land Page 1 of 2 . I SUMMARY REPORT File No. 07-0143 APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to , or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and Limiting Conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a cOrjdition 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 h~ve otherwise stated in the reconciliation section. 8. I have personally inspected the subject property and the exterior of all properties listed as comparables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: Bel/aire Park Road [Spencer Baird Drive], Carlisle, PA, 17013 APPRAISER: SUPERVISORY APPRAISER (only if required) - '--~ Signature: 'S'~....~.....J I ,- 1';1 Name: Steven W. Barrett, SRPA, SRA, ASA Date Signed: 04/23/2007 , State Certification #: GA-000298-L or State License #: RB-026921-A State: PA Expiration Date of Certification or License: 06/30/2007 Signature: a~--.-'~-- #- l2A<!ki!- Name: Cassandra J. Crockett Date Signed: 04/23/2007 State Certification #: RL-001348-L or State License #: State: PA Expiration Date of Certification or License: 06/30/2007 " Certified Residential Appraiser o Did 00 Did Not Inspect Property Certified General Appraiser Vacant Land Page 2 of 2 ~ M&fBank 499 Mitchell Street, Millsboro, DE 19966 April 23, 2007 Law Offices O'Brien, Baric & Scherer 19 West South Street Carlisle, PA 17013 RE: Estate of Ellen M. Neusbaum Date of Death: March 22, 2007 Social Security No.: 200-36-9113 Dear Mr. Scherer: In response to your request, please be advised that at the time of death, the above- named decedent had on deposit with this bank the following accounts. 1. Account Type.... . .... ..... . .. . .. . ...... Checking Account Account Number. . . . . . . . .. . .. . .. . .. . . .. 430919 Ownership (Names oj}............. ..Ellen Neusbaum Opening Date......................... ..09/01/67 (account closed 03/27/07) Balance on Date ojDeath.........$3,882.21 Accrued Interest $ 0.00 Total...................................... .$3,882.21 The above named decedent did not have a safe deposit box. For any additional information on the above accounts, including ownership, statements and closures please contact our Stonehedge branch at 717-240-4524. Sincerely, . C/WkuJ ;j~ Charlene Warrington, Records Management 1-888-502-4349 m~~ Fax Transmission 4/20/2007 7:27 AM PAGE 11 002 Fax Server : :."'~.: - --~.,...-. c:~_i....__ W'AcHOVIA. Reference !D: 2013666 Wachovia Bank N.A. Balance Confirmation Services POBox 40028 Roanoke, VA 24022-7313 April 20, 2007 OBRIEN BARIC & SCHERER 19 WEST SOUTH STREET CARLISLE, PA 17013 SVBJECT: Veritication ' Continuation of Account and Balance Information provided for: Customer: ELLEN M ~EUSBAUM (SSN# 200-36-9113) Date of Death: March 22, 2007 Account Type Account Number Deposit Account Information Date of Death Average Date MatllIity Interest Accru ed YTD Date Balance Balance. Opened Date Rate Interest In terest Paid Closed $25,000.00 6/10/2002 5/7/2007 $45.63 $316.26 CERTIFICATE OF DEPOSIT 247412041781266 LEGAL TITLE: ELLEN M NEUSBAUM BARBARA A NEUSBAUM POA CERTIFICATE OF DEPOSIT 247412042837943 LEGAL TITLE: ELLEN M NEUSBAUM BARBARA A NEUSBAUM POA $40,000.00 12/15/2006 $43.24 $487.20 7/15/2007 CERTIFICATE OF DEPOSIT 247412052683830 $25,890.91 7119/2006 8/19/2007 $14.93 $333.61 LEGAL TITLE: ELLEN M NEUSBAUM BARBARA A NEUSBAUM POA CHECKING 1010141501156 $1J49.91 6/16/2006 $0.10 $1.34 3/27/2007 LEGAL TITLE: ELLEN M NEUSBAUM BARBARA A NEUSBAUM POA CHECKING 101014926151 ] $50.514.83 12/15/2006 $81.08 $514.83 3272007 LEGAL TITLE: ELLEN M NEUSBAUM BARBARA A NEUSBAUM POA · Due to system limitations, we can only provide a twelve month average balance on depository accounts. Fax Transmission 4/20/2007 7:27 AM PAGE 2/002 Fax Server ::----<.,..~ ~ -~..-~ 'W'AoHOVIA Reference ill: 2013666 No Safe Deposit Box found for customer. . Date of death balance does not include accrued interest. · If date of death occurrs on a weekend or a holiday, date of death balance does not include any transactions that were made during that time period. ~~ Audrey Troutt Servicenter Associate Phone: (540)563-7323 abs; at Susan H Fulginiti/FieldIWH/AEFA@AMPF 11561611 2001 ELLEN M NEUSBAUM - DEATH SETTLEMENT REQUIREMENTS - PLEASE DO NOT DELETE Dear SUSAN HORNER FULGINITI: We have received notification of ELLEN M NEUSBAUM"s death. The deceased"s name appears on the following accounts. Account values as of 03/22/2007 are listed below. At the end of this letter, you will find a list of beneficiaries shown in our initial review of the accounts Account Information Mutual Funds Account Number 011201119333002 011501119330002 Ownership Individual - TaD Individual - TaD Mutual Funds Account Number 011201119333002 011501119330002 Total Value $140,584.95 $471,330.08 # of shares 28,867.547 106,877.569 Asset Value Per Share 4.870 4.410 The date of death values provided are for estate tax purposes and are not a value to be paid. Accounts may be subject to market fluctuation as governed by each product. Please note that the values indicated for any Life Insurance product(s) reflect the gross death benefit at date of death, not the cash value. Values for any proprietary mutual funds include accrued dividends as applicable. Values provided for brokerage products are manually calculated, and should be used as estimates only. The prices used to provide values are estimates obtained from outside sources believed to be reliable. Ameriprise Financial provides these values as a service to its clients. Actual values used in preparation of tax returns or for planning purposes should be verified by your legal and accounting advisors. Account Disposition Account disposition is based on how an account is owned (the ownership type). The following information will help you understand the process that will be used to settle the accounts. Accounts may be subject to market fluctuation as governed by each product. Disposition for Individual - TOD ownership Upon the death of the owner, all accounts registered as individual-transfer on death pass to the named beneficiaries. Although the assets do not become part of the estate for distribution, we understand they should be included for inheritance and/or estate tax purposes. Required Documents In order to take appropriate steps to settle the accounts we will need these documents: " Certified Death Certificate (For accounts: 01120111933 3 002,011501119330002) The death certificate must be an original document that bears certification from the health department or local registrar and includes the cause of death. Estate Settlement Form (3248) (For accounts: 01150111933 0 002, 01120111933 3 002) To process a settlement on a Mutual Fund, Certificate or Brokerage account, each claimant must complete an Estate Settlement Form (version 3248-M or later). This form includes separate sections for qualified and non-qualified accounts as well as a section at the end of the form that must be signed and dated by all new account holders for all qualified and non-qualified accounts. Instructions for completion of the Estate Form are available as Form 3248-INST. If the form is submitted for processing without complete information, delays in completion of the claim may result. An Obituary or Statement listing all children of the decedent (For accounts: 01120111933 3 002, 01150111933 0 002) Because the beneficiary designation is living lawful children or children per stirpes, we require either an obituary or a statement signed by either the advisor or an adult child, listing all children of the decedent (both living and deceased). If a child is deceased, we require a certified copy of his or her death certificate. In addition to this, other requirements may be needed. In order to be compliant with fair claims practices of many states we will be immediately corresponding with the beneficiaries listed for any Life and Annuity accounts held by the deceased client. Similarly we will be corresponding with the beneficiaries or claimants of all accounts held by the decedent within a minimum of six months of the date of this letter. Please contact us if you wish to see a copy of these correspondences. We also request any information you may have that may facilitate our efforts to contact other beneficiaries on the accounts involving the deceased. We appreciate the opportunity to be of service to you. Please contact us if you have any questions. In an effort to improve our process, we invite you to share your feedback with us by sending a Lotus Note to: Settlements Feedback. Sincerely, Vicki Daye Death Settlements Processing Team 70 100 Ameriprise Financial Center Minneapolis, MN 55474 Death Settlements Processing Team: Life Insurance Claims: 800-297-6663, PIN, say Death Settlements 800-297-6663, PIN, say Life Claims Attachment: Beneficiary Information , . F~rrest and Ellen Neusbaum purchased the cottage in Bellaire Park already furnished at the sale price. The original furniture in the cottage went along with the cottage at the time of purchase. Additional furniture was purchased after the sale. This furniture was appraised by Lois Wickard, employee of Wickard's Auctioneer, on June 11,2007, and is listed at fair price. Frobt porch T'fio wicker chairs purchased at BJ's $40.00 W,icker couch/chair at Pier One $100.00 Green bench $10.00 Wicker planter $25.00 Red bench $10.00 Wicker light from pottery $15.00 Two Redwood stands $10.00 Knickknacks $1.00 Three throw rugs $2.00 Willow planter $1.00 Glider $25.00 Living Room Couch $5.00 Chair $5.00 Gold recliner $10.00 End table $10.00 Red plaid recliner $35.00 Foot stool $1.00 Cast iron stove $45.00 Coffee table $5.00 TV stand $2.00 TV $1.00 · Floor light from 60' s $20.00 Floor fan $15.00 Brass light $5.00 Pig picture $10.00 Country scene picture $5.00 Floor lamp $10.00 Rugs $15.00 TV trays (2 sets) $2.00 Black candle hanger $0.50 - . . . Two Bedrooms Two bunk beds $20.00 Bench $20.00 Wash stand oak missing the back bought in $75.00 Two clothes hampers $20.00 Oil lamp $10.00 Chair bought at Vetocks $15.00 Bookcase $10.00 Round metal table and 4 chairs $10.00 End table $10.00 2 Footstools $4.00 Bathroom Cabinet stand bought at Larry's $1. 00 Linens $10.00 Kitchen Kitchen table and four chairs $75.00 Storage cabinet $10.00 White metal cabinet $30.00 Refrigerator $10.00 Stove $10.00 Microwave $10.00 Regular line of household items, appliance $25.00 Linens $10.00 Back Porch Red bench $25.00 ..,-/"vo!) (j</{(f~ eN-AMi' " I~.oa Garage Wheel horse riding mower $300.00 Wooden Wheelbarrow $75.00 Gas weedwacker $10.00 Yard machine self-propelled mower 1998 $15.00 Yard machine mulcher mower 2000 $35.00 Metal wheelbarrow $15.00 Garage tools $15.00 Lawn chairs in shed $10.00 Grill $5.00 Outside Picnic table $25.00 Three ween chairs $30.00 Bench $5.00 TOTAL $1,390.50 lD~ ,., if. () ~.,r-;' ,. Forrest and Ellen Neusbaum purchased the cottage in Bellaire Park, May 19, 1950. All the furniture listed below was in the cottage at the time of purchase. This furniture was appraised June 12,2007, by Lois Wickard, employee of Wickard's Auctioneer, and is listed at fair price. Front Dorch Two rockers $40.00 Straiaht chair $20.00 Drop back chair $10.00 Table stand $10.00 Floor Lamp $15.00 Livina room Card table $2.00 Black end table $10.00 Love seat $35.00 Hall Clothes rack $25.00 Two bedrooms Brown chair $15.00 Chest of drawers $35.00 Double bed $50.00 Chest of drawers with marble I mirror on wall $50.00 Small rocker $10.00 Bathroom Dresser $20.00 Kitchen Bread box $25.00 Tea kettle $15.00 Pert globe range iron $150.00 Back porch Long table with bench $25.00 Two little chairs $10.00 Small table $15.00 "T#A ~~ C#4~j' .; IJ:~ TOTAL ",,,,,,,r.,,,,",, /f~o:<.<p'C