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HomeMy WebLinkAbout01-14-08 (2) .. w. . -1 .' 'J .. .....J 15056041125 REV-1500 EX (06-05) PA Department of Revenue '* ~~:~=uaJ Taxes INHERITANCE TAX RETURN Harrisburg. PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death OFFICIAL USE ONLY County Gode Year File Number 02 ( ~DC:/6 00 ~ ~ Date of Birth 1 0 142 007 09061914 Decedent's Last Name Suffix Decedent's First Name MONELL IRENE MI B (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 [&J 1. Original Retum o 4. Limited Estate o 6. Decedent Died Testate (Attach Copy of Will) o 9. Litigation Proceeds Received o 2. Supplemental Return 0 3. Remainder Return (date of death prior to 12-13-82) o 4a. Future Interest Compromise (date of 0 5. Federal Estate Tax Retum Required death after 12-12-82) 00 7. Decedent Maintained a Living Trust (Attach Copy of Trust) o 10. Spousal Poverty Credit (date of death D 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number 8. Total Number of Safe Deposit Boxes JAN L BROWN 845 SIR THOMAS C T S T E 1 2 7 1 7 c; 4 1 5~ 5 0 n C? . (= 0 . ':::o_,~ r REG~TER1f~US!YI' '. j ~ ..... j ~ " " :.~ r...., j -, .. T L_~ATEFILED ~ ~i Firm Name (If Applicable) JAN L BROWN & ASS 0 C First line of address Second line of address City or Post Office State ZIP Code HARRISBURG P A 17109 Correspondenfs e-mail address:brendailb@verizon.net Under penalties of pe 'ury, I declare that I have examined this return, Including accompanying schedules and statements. and to the best of my knowledge and belief, n is true, correct a Jete. Declaration of preparer er than the personal representative is based on aU information of which preparer has any knowledge. SIGNATU P. SIB F F. RETU DATE WILLIAMSBURG VA 23188 CT STE 12 HARRISBURG PLEASE USE ORIGINAL FORM ONLY PA 17109 Side 1 L 15056041125 15056041125 --1 \~ ,\ .-J 15056042126 REV-1500 EX Decedent's Social Security Number Decedent's Name: I RENE B. MONELL 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) 0 Separate Billing Requested . . . . . .. 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) 0 Separate Billing Requested. . . . . .. 7. 1434.31 11. Total Deductions (total Lines 9 & 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. 9 0 5 9 o . 1 8 9 2 0 2 4 . 4 9 1 0 4 1 6. 4 3 3 9 5 . 4 8 1 0 8 1 1. 9 1 8 1 2 1 2 . 5 8 8. Total Gross Assets (total Lines 1-7) ........................... 8. 9. Funeral Expenses & Administrative Costs (Schedule H) . . . . . . . . . . . . . . .. 9. 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) . . . . . . . . . . . . 10. 12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . 12. 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . 13. 14. Net Value Subject to Tax (Line 12 minus Line 13) .. . . . . . . . . . . . . . . . . 14. 8 1 2 1 2 . 5 8 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.O _ o . 0 0 15. o . 0 0 16. Amount of Line 14 taxable 2 at lineal rate X .o~ 8 1 1 2 . 5 8 16. 3 6 5 4 . 5 7 17. Amount of Line 14 taxable o . 0 0 o . 0 0 at sibling rate X .12 17. 18. Amount of Line 14 taxable o . 0 0 o . 0 0 at collateral rate X .15 18. 19. Tax Due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 3 6 5 4 . 5 7 20. Fill IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT o Side 2 L 15056042126 15056042126 .....J REV-1rpo ~ Pag~ 3 . Decedent's Complete Address: DECEDENTS NAME IRENE B. MONELL f-STREET ADDRESS 20 North 12th Street File Number o 0 ------------------ ----~ I STATE PA I ZIP --~--------- 17043 CITY Lemoyne Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payments A. Spousal Poverty Credit 8. Prior Payments C. Discount (1) 3,654.57 182.73 Total Credits ( A + 8 + C) (2) 182.73 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 0.00 3,471.84 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) A. Enter the interest on the tax due. 8. Enter the total of Line 5 + SA. This is the BALANCE DUE. (5A) (58) 3,471.84 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 (ZJ b. retain the right to designate who shall use the property transferred or its income; ............................... 0 lXJ c. retain a reversionary interest; or ...................................................... .......................................... 0 (ZJ d. receive the promise for life of either payments, benefits or care? ....................................................... 0 (ZJ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? ....................................................................................... D lXl 3. Did decedent own an 'in trust for' or payable upon death bank account or security at his or her death? ......... 0 lXl 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which t. be f" d' t'? 'Xl con alns a ne IClary eSlgna Ion. .................................................................................................. ~ o IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. ~9116 (a) (1.1) (i)l. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. ~9116 (a) (1.1) (ii)]. The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. 99116(1.2) [72 P.S. ~9116(a)(1)J. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. . .' REV-1508 EX + (6:98) * SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF IRENE B. MONELL FILE NUMBER o 0 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. DESCRIPTION VALUE AT DATE OF DEATH ITEM NUMBER 1. Belco VISA; balance refund 2 Erie Insurance Group; tenant insurance termination refund 3 Guideposts; subscription refund 4 Holiday Retirement Corp; Essex House security deposit refund 5 Verizon; pension benefit 6 Verizon; credit balance refund 5.33 9.00 13.30 825.00 573.12 8.56 TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 1 434.31 REV-~510 'EX + (6-98)' * SCHEDULE G INTER.VIVOS TRANSFERS & MISC. NON.PROBA TE PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF IRENE B. MONELL FILE NUMBER o 0 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV -1500 COVER SHEET is yes. DESCRIPTION OF PROPERTY ITEM INCLUDE THE NAME OF THE TRANSFEREE. THEIR RELATIONSHIP TO DECEDENT AND DATE OF DEATH % OF DECO'S EXCLUSION TAXABLE NUMBER THE DATE OF TRANSFER ATTACH A COPY OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (I F APPliCABLE) VALUE 1. The Irene B Monell Living Trust dated 2/8/2000 comprised of the following assets: Belco Community Credit Union Account 032840 22,524.98 100. 22,524.98 Savings 81 - $1,708.26 Holiday Club 82 - $30.00 Checking S4 - $7,468.02 Money Market S6 - $2,533.07 Cert of Deposit 42085 - $5,390.16 Cert of Deposit 42086 - $5,395.47 Oppenheimer Moderate Inv Fd CI C (OCMIX) 68,065.20 100. 68,065.20 Account 547 5470063294 5,588.276 shs @ $12.18/sh TOTAL (Also enter on line 7 Recapitulation) $ 90,590.18 (If more space is needed, insert additional sheets of the same size) REV-1511' EX + (12-99) .. SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF IRENE B. MONELL FILE NUMBER o 0 Debts of decedent must be reported on Schedule I. ITEM NUMBER A. DESCRIPTION AMOUNT 1. 2 FUNERAL EXPENSES: Neill Funeral Home Funeral luncheon 4,147.65 372.24 B. 1. ADM1NISTRA TlVE COSTS: Personal Representative's Commissions Name of Personal Representative (s) Gilbert F Monell. Successor Trustee 425-68-3572 2,000.00 Social Security Number(s)/EIN Number of Personal Representative(s) Street Address 124 Pebble Beach City Williamsburg State VA Zip 23188 2. 3. Year(s) Commission Paid: 2008 Attorney Fees Jan L Brown & Associates Family Exemption: (If decedenfs address is not the same as claimanfs, attach explanation) Claimant 3,000.00 Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees 5. Accountanfs Fees 6. Tax Return Prepare(s Fees Parks & Company; 1040 & 1041 500.00 7. 8 9 The Patriot-News; legal advertising Cumberland Law Journal; legal advertising Cumberland Co Register of Wills; filing fee Inheritance Tax Return 306.54 75.00 15.00 TOTAL (Also enter on line 9, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 10,416.43 , . REV-1512 EX + (12-03) '* SCHEDULE. DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF IRENE B. MONELL FILE NUMBER o 0 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM NUMBER DESCRIPTION 1. Belco VISA; outstanding medical bills VALUE AT DATE OF DEATH 395.48 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 395.48 REV.'513El<~19. COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF IRENE B. MONELL SCHEDULE J BENEFICIARIES 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 pnclude outright spousal distributions. and transfers under Sec. 9116 (a) (1.2)] 1. Gilbert F Monell, son Lineal 124 Pebble Beach, Williamsburg, VA 23188 One-third residue 2 Mary Ann Goettel, daughter Lineal 47 Hampton Way, Montoursville, PA 17754 One-third residue 3 Nancy M Zeigler, daughter Lineal 1104 White Dawn Lane, Mechanicsburg, PA 17055 One-third residue ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18. AS APPROPRIATE, ON REV-1500 COVER SHEET II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE 1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1. TOTAL OF PART IT - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ FILE NUMBER o 0 (If more space is needed, insert additional sheets of the same size) COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF DAUPHIN On this the 1 ih day of October~ 2007 before me~ a Notary Public~ the undersigned officer~ personally appeared GILBERT F. MONELL~ known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument~ and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF ~ I hereunto set my hand and official seal. ~~ Notary Public 1m NOTARIAl SEAl PAULA K. WHITE, NOTARY PUBlIC lOWER PAXTON TWP.. DAUPHIN COUNtY MY COMMISSION EXPIRES APRIL 5 2008 Page 2 of2 ACCEPT ANCE OF TRUST On February 8, 2000, IRENE B. MONELL entered into a Revocable Living Trust Agreement wherein IRENE B. MONELL was named as Trustor and Co-Trustee and which provided that upon her death, GILBERT F. MONELL was designated as death Trustee. WHEREAS, IRENE B. MONELL died on October 14, 2007. NOW, THEREFORE, the undersigned, GILBERT F. MONELL a~cepts appointment as death Trustee and agrees to serve as such in accordance with the terms and provisions of said Trust Agreement. Executed this 17th day of October, 2007. ~7~~ ~ERTF.MONELL Page 1 of2 THE IRENE B. MONELL LIVING TRUST PREPARED FOR: IRENE B. MONELL Prepared by: Ja 4 Sir Thomas Court, Suite 9 Harrisburg, P A 17109 (71 7) 541-5550 TABLE OF CONTENTS AR1'ICLE ONE: CREATION OF THE TRUST Section Section Section Section Section 1. Declaration of Living Trust Agreement 2. Parties to the Trust 3. Name of the Trust 4. Definitions 5. My Present Family ARTICLE 'TWO: FUNDING THE TRUST Section Section 1. Trust Intent and Beneficiary Clause 2. The Trust Property ARTICLE THREE: ADMINISTRATION OF TRUST DURING LIFETIME OF TRUSTOR Section Section Section Section 1. Distributions 2. Authority, Power and Rights of Trustor 3. Disability 4. Catastrophic Illness Provision ARTICLE FOUR: ADMINISTRATIVE POWERS. Section Section Section Section Section Section Section Section Section Section Section Section Section Section Section Section Section 1. Powers of Trustee 2. Trustor's Authority to Encumber Trust Property 3. Authority of Successor Trustee to Administer the Trust 4. Termination of Successor Trustee's Authority 5. Authority of Successor Trustee to Disburse Funds 6. Inalienability of Beneficiary's Interest in Trust 7. Beneficiary's Proportionate Liability for Estate Taxes 8. Limit on Trustee's Discretion 9. Non-Liability of Third Parties 10. Extension of Trust Powers 11. No Bond Requirements 12. Governing Laws of the State 13. Savings Clause 14. Termination of Trust 15. Compensation 16. No Court Supervision 17. Spendthrift Clause ARTICLE FIVE: LIFE INSURANCE Section Section Section Section Section Section Section Section Section Section 1. Policies Covered 2. Additional Policies 3. Trustor's Rights in Policies 4. Trustee to Execute Necessary Instruments 5. Payment of Premiums 6. Safekeeping of Policies 7. Proof of Loss and Receipt of Proceeds 8. Contested Policy 9. Reimbursement for Advances and Expenses 10. Discharge of Insurance Company ARTICLE SIX: ADMINISTRATION OF THE TRUST UPON THE DEATH OF THE TRUSTOR Section Section 1. Discretionary Payments 2. Trustee's Authority to Make Tax Elections ARTICLE SEVEN: DISTRIBUTION OF PERSONAL PROPERlY Section 1. Tangible Personal Property ARTICLE EIGHT: THE COMMON TRUST Section Section Section 1. Creation of the Common Trust 2. Separation of Trust Property 3. Distribution of Trust ARTICLE NINE: DISTRIBUTIONS TO THE BENEFICIARIES AND THEIR DESCENDANTS Section Section Section 1. Distributions of Trust Property 2. Share of a Descendant of a Deceased Beneficiary 3. Distribution to Underage or Disabled Beneficiaries ARTICLE TEN: DISTRIBUTION IF NO DESIGNATED BENEFICIARIES THE IRENE B. MONELL LIVING TRUST FER 0 G ~~GJ DATED: ARTICLE ONE: CREATION OF THE TRUST Section 1. DECLARATION OF LIVING TRUST AGREEMENT This Agreement is made and entered into by and between IRENE B. MONELL of Dauphin County, Pennsylvania, as Trustor, and IRENE B. MONELL and GILBERT F. MONELL as Trustees. The Trustor wishes to establish a Revocable Living Trust which will receive real and personal property, the proceeds of certain life insurance policies on the Trustor's life, and certain other assets as may from time to time be added. The initial Trustees are willing to carry out the duties enumerated in this Agreement. . NOW, THEREFORE, in consideration of the mutual covenants set forth and other good and valuable consideration, the Trustor and Trustees agree as follows: Section 2. PARTIES TO THE TRUST The parties to this Trust are: A. TRUSTOR: IRENE B. MONELL 137 Summer Lane Enola, PA 17025 B. CO-TRUSTEES: IRENE B. MONELL 137 Summer Lane Enola, P A 17025 GILBERT F. MONELL 124 Pebble Beach Williatnsburg, VA 23188-8904 B. CO-SUCCESSOR TRUSTEES: MARY ANN GOETIEL 12 Hampton ,Way Montoursville, PA 17754 NANCY L. ZEIGLER 6275 Haydon Ct. Mechanicsburg, PA 17055 C. BENEFICIARIES: Name Relationship 1. 2. 3. 4. IRENE B. MONELL GILBERT F. MONELL MARY ANN GOETTEL NANCY L. ZEIGLER Trustor!Trustee Trustee/Son Daughter Daughter -1- Section 3. NAME OF THE TRUST The formal name of the Trust is "IRENE B. MONELL and GILBERT F. MONELL, Tn.r~~scpr: ~JJ" successors in trust, under the IRENE B. MONELL LIVING TRUST dated l... - and any amendments thereto." The informal name of the trust is THE IRENE B. MONELL LIVING TRUST, dated r..-'" n t":~;;"f\ ~ t J U (\ LUtH, Section 4. DEFINITIONS The following definitions shall apply throughout this 'frust, unless the context in which a term is used clearly implies another meaning. A. Trustor - The individual or individuals who created this Trust and transferred the assets into the Trust. B. Trustee - The individual who handles the administration of the Trust Estate. This term includes the original Trustees, Co-Trustees as well as any Successor Trustees. C. Trust Property or Estate - All of the assets and property owned by or titled in the name of the Trust. D. Evidence of Death - The death ofa Beneficiary or of an original Trustor shall be evidenced by presentation of a certified copy of such person's death certificate to the Trustee. E. Disability - "Disability" or "disabled" shall include any physical or mental condition of a person including minority, which renders him unable to conduct his regular affairs. A condition of disability as just defined (other than minority) shall be evidenced by the written certificate or statement of two licensed physicians filed with and accepted by the Trustee, or in the case of a disabled Trustee, filed with and accepted by the Successor Trustee. F. Singular to Include Plural - Whene~er used herein, and to the extent appropriate, the masculine, feminine or neuter gender shall include the other two genders, and the singular shall include the plural and the plural shall include the singular. The term Trustor shall include the plural Trustors. G. Expenses of Education - Costs of tuition and other fees charged by an educational institution, books and other education materials and related expenses involved in pursing to advantage a course of studies at any recognized educational institution, whether private or public, elementary, secondary, college, university, graduate school, trade school or institute. H. Spendthrift Trust - A trust of which no part of the income or principal shall ever be transferred or assigned by any Beneficiary, or subjected to any judicial process against any -2- Beneficiary. No part of the interest of any Beneficiary shall be subject to sale, hypothecation, assignment, or transfer, nor shall the principal or income be liable for the debt of any Beneficiary, nor shall income be seized, attached, or in any manner taken by judicial proceedings against any Beneficiary on account of the debts, assignments, sale, divorce, or encumbrance of any Beneficiary. In accordance with these provisions, the Trustee shall pay to the Beneficiary the sum payable to the Beneficiary according to the Trust terms, notwithstanding any purported sale, assignment, hypothecation, transfer, attachment, or judicial process, exactly as if the same did not exist. Nothing contained in this Section shall be construed as restricting the exercise of any Power of Appointment which may be granted in this Living Trust Agreement. I. Catastrophic Illness - An illness or an accident which renders the affected Trustor incompetent or unable to care for himself so that full-time care is needed, and it is reasonably anticipated that such care shall extend for a period of six months or longer. J. Children - Children as used in this Trust shall include lawful children of the body of the person referred to as well as children adopted by said person. Section 5. MY PRESENT FAMILY My present family consists of the following: A. Trustor: IRENE B. MONELL DOB: September 06, 1914 SSN: B: Children: Name Birthdate Social Security No. l. 2. 3. GILBERT F. MONELL MARY ANN GOETTEL NANCY L. ZEIGLER 8/10/39 1130/42 3/12/48 All references to my children in this Agreement are to these childrent as well as any children subsequently born to me, or legally adopted by me. -3- ARTICLE lWO: FUNDING THE TRUST Section 1. TRUST INTENT AND BENEFICIARY CLAUSE The Trustor has caused the transfer of all of her right, title and interest in and to the property herein described in Schedule A of this Living Trust Agreement, to the above named Trustees to be held In Trust for the use, benefit and enjoyment of the above named Beneficiaries. Section 2. THE TRUST PROPERlY A. The Trustor declared that she has transferred to and holds in the IRENE B. MONELL Living Trust all of her interest in the property described in Schedule A which is attached hereto and incorporated herein, by reference. This Trust Property will include any real and personal property of every kind and nature which the Trustee may, pursuant to any of the provisions herein, at any time hereafter acquire, hold or cause to be made payable to this Trust, and the investments and reinvestments which are made for the benefit, purposed and used of the Trust. This property will be listed on Schedule B which is attached hereto and incorporated herein by reference. Any property which has been deleted from the Trust will be listed on Schedule C which is attached hereto and incorporated herein by reference. B. Use of Trust Property. The Trust Property shall be used for the benefit of the Trust Beneficiaries and shall be administered and distributed by the Trustee in accordance with this Living Trust Agreement. C. Additional Assets. The Trustor or any other person may be instrument in writing, by Will, or by naming the Trustee as Beneficiary, deliver to the Trustee additional assets acceptable to the Trustee. These additional assets shall be held, administered, and distributed pursuant to this Living Trust Agreement. -4- ARTICLE THREE: ADMINISTRATION OF TRUST DURING LIFETIME OF TRUSTOR Section 1. DISTRIBUTIONS The Trustee shall pay the net income of the Trust Estate to the Trustor during her lifetime, and such portions of the principal as the Trustor from time to time requests according to the provisions of this Trust. The Trustor shall have absolute control over the distribution of the Trust Estate, including principal and interest, during her lifetime. Upon the request of the Trustor, the Trustee shall pay all mortgage payments, taxes, insurance, repairs, and any other expenses necessary with regard to the residence of the Trustor. Section 2. AUTHORITY, POWERS AND RIGHTS OF TRUSTOR A. The Trustor reserves unto herself the authority, power and right to amend, modify or revoke the Trust hereby created. No prior notice to or consent of any Beneficiary or the Trustee shall be required. Mter the death of the surviving Trustor, this Trust or any trust created by this agreement shall be irrevocable and not subject to amendment. B. The Trustor may at any time appoint, substitute or otherwise change the person designated to act as Trustee or Successor Trustee under this Trust hereby created. No prior notice to or consent of any Trustee or Successor Trustee shall be required. The Trustee so removed shall promptly transfer and deliver to Trustor, or Successor Trustee all property of the trust under its possession and control. C. All amendments, modifications, notices, revocations or other instruments affecting or furthering the purposes of this Trust, shall be in writing and delivered to the then Trustee. Section 3. DISABILITY The Trustor shall be deemed disabled during any period when, in the opinion of two licensed physicians, the Trustor is incapacitated or disabled because of illness, age or any other cause which results in the Trustor being unable to manage his property or financial affairs effectively. The Co-Trustor may act alone during that period of disability or with the named Successor Trustee(s). During such time that the Trustor may be disabled, the Trustee shall provide as much of the principal and income of this Trust as, in his/her sole discretion is necessary or advisable for the medical care, support and maintenance in reasonable comfort of the Trustor. The Trustee shall also have sole discretion to use the principal and income of the Trust for the medical care, support and maintenance in reasonable comfort of the Trustor's spouse, if any, and any minor children dependent upon the Trustor for his or her support. -5- The Trustee may make such distributions to the disabled Trustor, the spouse and the dependent minor children in equal or unequal shares, as their respective needs may require, based upon the Trustee's discretion as to need. When making such decisions, the Trustee shall consider all other income and assets available. If at any time there is no Trustee acting under this agreement and there is no person or institution designated and qualified as a successor Trustee, a majority of the beneficiaries then eligible to receive distribution of income or principal under this agreement or their personal representatives shall appoint a successor Trustee. If any trust existing under this agreement lacks a Trustee and no successor is appointed pursuant to this Section, the vacancy shall be filled by a court of competent jurisdiction. Section 4. CATASTROPHIC ILLNESS PROVISION In the event of a catastrophic illness or accident affecting the Trustor, if the Trustor and her spouse are living, then the Trustee shall have the power to divide the Trust Estate into two separate trusts, one for each of the Trustors, and the Trustor affected by the catastrophic illness or accident shall have as his separate property an irrevocable trust from which only the income may be used by the Trustee for the benefit of the Trustor so affiicted. If competent, the Trustor may participate in the division of the Trust Estate. If the Trustor is not competent, the person appointed under the Trustor's Durable Power of Attorney shall participate with the Trustee in the division of the Trust Estate. -6- ARTICLE FOUR: ADMINISTRATIVE POWERS Section 1. POWERS OF TRUSTEE A. In the event this Living Trust Agreement provides for more than one Trustee (Co-Trustee), the exercise of any and all authorities, powers and rights accorded to said Trustees under this Trust shall not require the Trustees to act in unison in order to exercise any Trust Power, but that each such Trustee may severally exercise any of the enumerated Trust Powers. In the event of physical or mental incapacity or death of one of the Co-Trustees, the survivor shall continue as the Sole Trustee with full authority to exercise all of the powers accorded to a Trustee under this Trust. B. The Trustee has the power to make distributions of the Trust Property as required, pursuant to the provisions of this Trust and the Trustee shall be fully authorized to pay over or disburse to the Trustor, any amounts requested by said Trustor from the income or principal of the Trust, from time to time. . C. The Trustee has the power to retain and to continue to hold any property that becomes a part of the Trust Estate and to sell, dispose of, exchange, partition, convey, divide, repair, manage, control, lease, rent and grant options and rights of refusal on property that becomes a part of the Trust Estate for cash, credit, deferred payments or exchange. D. The Trustee has the power to insure, at the expense of the Trust Estate, the Trust Property, with insurance of any kind and in amounts as the Trustee deems advisable. E. The Trustee has the power to invest all or any part of the Trust Estate in every kind of property, whether real or personal, including securities and to manage same as if he/she were an owner. The Trustee may manage investments in securities; open and close brokerage accounts; buy and sell securities, mutual funds, commodities, put and call options, long short or on margin; assign and deliver security certificates; and deal with any dividend reinvestment, checking or credit card account. F. The Trustee has the power to litigate and compromise claims with respect to the Trust Estate as the Trustee deems advisable. G. The Trustee has the power to allocate to principal or income all monies and properties received on behalf of the Trust Estate. H. The Trustee has the power to employ and pay any custodian, investment advisor, attorney, accountant, consultant, or other professional deemed necessary. I. 1. The Trustee may retain, continue, sell, or liquidate any business in which the Trustor has or had an interest as a shareholder, partner, ~ole proprietor or as a participant in a joint venture, even though that interest may constitute all or a substantial portion of the Trust Property. -7- The Trustee may directly participate in the conduct of any such business or employ others to do so on behalf of the Beneficiaries. 2. The Trustee may execute partnership agreements, buy-sell agreements, and any amendments to them. 3. The Trustee may partICIpate in the incorporation of any Trust Property, any corporate reorganization, merger, consolidation, recapitalization, liquidation, dissolution, or any stock redemption or cross purchase buy-sell agreement. 4. The Trustee may hold the stock of any corporation as Trust Property, and may elect or employ directors, officers, employees, and agents, and compensate them for their services. 5. The Trustee may carry out the provisions of any agreement entered into by the Trustor prior to his death for the sale of any business interest or the stock thereof. 6. The Trustee may exercise all of the business powers granted in this Agreement regardless of whether the Trustee is personally interested or an involved party with respect to any business enterprise forming a part of the Trust Property. J. The Trustee has the power to pay with funds from the Trust Estate any tax, charge, or assessment against the Trust Estate which the Trustees is required to pay. K. The Trustee has the power to deposit and withdraw funds in commercial, savings, or savings and loans accounts, subject to the usual restrictions upon withdrawal in effect at that time. L. The Trustee may execute, deliver, and grant to any individual or corporation a revocable or irrevocable power of attorney to transact any and all business on behalf of any ttusts created in this Agreement. M. The Trustee may enter into a lease or other agreement which may have a duration that the Trustee deems reasonable, even though extending beyond the duration of any trust created in this Agreement. Section 2. TRUSTOR'S AUTHORITY TO ENCUMBER TRUST PROPERTY The Trustor, in her capacity as Trustee shall be empowered with the discretionary authority to mortgage, pledge, hypothecate or otherwise encumber with a lien any or all of the Trust Property. Said lien(s) may be satisfied, settled or discharged from the income, rents or profits accruing from the Trust Property, or any other non-trust property owned by the Trustor, if she so elects. -8- Section 3. AUTHORITY OF SUCCESSOR TRUSTEE TO ADMINISTER THE TRUST A. The Successor Trustee shall, upon the death of the Trustor; or upon the death of the Surviving Co-Trustor, assume the active administration of this Trust, and forthwith, transfer all right, title and interest in and to the Trust income and/or property unto the Beneficiaries, pursuant to Articles Seven, Eight, Nine and Ten herein regarding distribution. B. The Successor Trustee shall assume the active administration of this Trust during the lifetime of the Trustor when either of the following conditions are present, namely: 1. The Trustor is unable to actively and competently exercise any of the authorities, powers or rights so accorded under this Trust by reason of a sustaining disability or catastrophic illness, as certified by two licensed physicians, or 2. The Trustor expresses her desire in writing, for whatever reason, to temporarily relinquish those authorities, powers and rights as Trustee under this Trust to the Successor Trustee. . c. If any named Successor Trustee refuses to serve, or fails to continue to service for any reason, the next named Successor Trustee shall serve in the order listed in Article One, Section 2. This section shall not apply to Co-Successor Trustees serving concurrently. D. If at any time there is no Trustee acting under this agreement and there is no person or institution designated and qualified as a successor Trustee, a majority of the beneficiaries then eligible to receive distribution of income or principal under this agreement or their personal representatives shall appoint a successor Trustee. If any trust existing under this agreement lacks a Trustee and no successor is appointed pursuant to this Section, the vacancy shall be filled by a court of competent jurisdiction. Section 4. TERMINATION OF SUCCESSOR TRUSTEE'S AUTHORITY The Successor Trustee's authority and power as provided under Article Four, Sections 3(B)( 1) and (2) may be subsequently terminated by the Trustor without the consent of or prior notice to said Successor Trustee when: A. The Trustor is sufficiently recovered from the disability or catastrophic illness as described under Article Four, Section 3(B)(I) above, as certified by two licensed physicians and thus, fully and competently capable of actively administering this Trust. B. The Trustor desires to reassume those authorities, powers and rights as Trustee in the active administration of this Trust relinquished under Article Four, Section 3(B)(2) above. The termination of the Successor Trustee's authority to actively administer this Trust in accordance with either Article Four, Section 3(B)(I) or (2) shall be effective immediately upon the Successor -9- Trustee's receipt of the Trustor's notice terminating all such authorities and powers previously granted by the Trustor. Section 5. AUTHORITY OF SUCCESSOR TRUSTEE TO DISBURSE FUNDS The Successor Trustee shall be fully authorized to payor disburse such sums from the income or principal as may be necessary or advisable for the medical care, support and maintenance in reasonable comfort of the Trustor when either of the two conditions described herein in Article Four, Section 3(B) prevails. Section 6. INALIENABILITY OF BENEFICIARY'S INTEREST IN TRUST The interest of the Beneficiaries under this Trust shall be inalienable. Said Beneficiaries can not assign, sell, pledge, encumber or otherwise transfer their interest in and to a third party. Nor can such interest be attached, garnished, levied upon or otherwise subjected to any proceedings whether at law or in equity. Section 7. BENEFICIARY'S PROPORTIONATE LIABILITY FOR ESTATE TAXES Each Beneficiary hereunder shall be liable for their proportionate share of any estate taxes that may be levied upon the total taxable value of the Trust Property distributed to said Beneficiaries upon the death of either the Trustor or the survivor of the Trustor. Section 8. LIMIT ON TRUSTEE'S DISCRETION Notwithstanding any language purporting to confer absolute, sole or unrestricted discretion on my Trustee in exercising any discretionary power with respect to this trust, my Trustee shall at all times act in accordance with fiduciary principles and shall not act in bad faith or in disregard of the purposes of my trust. Section 9. NON-LIABILITY OF THIRD PARTIES A. This Trust is created with the express intent and understanding that any third parties, including their agents, employees or vendors, who, upon the written request of the Trustor, or under the color of authority granted to the Trustee in this Trust, performs any duties or renders any services in the furtherance of the purposes and intents of this Trust, absent any showing of fraud, shall be under no liability for the application or proper administration of any assets or properties being the subject of the said third party's acts. B. This limitation of liability gives specific protection to any third party who acts, performs, or renders any services pursuant to any notice, instrument or document believed and represented to be genuine, and to have been signed and presented by the proper party(ies). -10- C. It is further the express intent of this Trust that the non-liability of all third parties be given broad and prospective application. In particular, a depository, custodial agent or financial institution, including (but not limited to): banks, brokerage firms, credit unions, savings and loan associations, transfer agents, thrift associations, or any other person or entity acting in a fiduciary capacity with regard to any assets or property comprising the Trust, shall suffer no liability, nor incur any express or implied obligations when acting in the capacity of a transferor, upon proper request, of any assets or property either sought to be, or constructively comprising the Trust. Section 10. EXTENSION OF TRUST POWERS This Trust shall extend to and be binding upon the Heirs, Executors, Administrators and Assigns of the undersigned Trustor and upon the Successor Trustees. Section 11. NO BOND REQUIREMENTS The Trustee under this Trust and any Successor Trustees shall serve without Bond. Section 12. GOVERNING LAWS OF THE STATE The laws of the State of Pennsylvania govern the validity and construction of any administrative or disposition provision of this Trust or any act implementing it or right conferred thereby. Section 13. SAVINGS CLAUSE If a State Court of competent jurisdiction shall at any time invalidate any of the separate provisions of this Trust, such invalidation shall not be construed as invalidating the entire Living Trust Agreement, but only that separate provision in controversy. All of the remaining provisions shall be undisturbed as to their legal force and effect. Section 14. TERMINATION OF TRUST Unless sooner terminated in accordance with other provisions of this Agreement, the Trusts created by this Agreement shall terminate twenty-one years after the death of the last life in being at the time of the death of the Surviving Trustor. Section 15. COMPENSATION The Successor Trustee shall be entitled to reasonable fees commensurate with his duties and responsibilities taking into account the value and nature of the Trust Estate and the time and work involved. If any licensed attorney or certified public accountant shall provide services to the Successor Trustee, such person shall be compensated for reasonable services rendered on the basis of such person's customary charges for legal or accounting services. The Successor Trustee shall be -11- . . reimbursed for the reasonable costs and expenses incurred in connection with his fiduciary duties hereunder. Section 16. NO COURT SUPERVISION No Trustee or Successor Trustee shall be required to qualify before, be appointed by, or in the absence of breach of trust, account to any court or obtain the order or approval of any court in the exercise of any power or discretion enumerated within this Trust. Section 17. SPENDTHRIFT CLAUSE All trusts created in this Agreement shall be spendthrift trusts. -12- ARTICLE FIVE: LIFE INSURANCE Section 1. POLICIES COVERED The Trustor has caused or may cause the Trustee to be named as Beneficiary of the insurance policies listed in Schedule A attached hereto and incorporated herein by reference. The Trustee accepts such designation in Trust for the purposes and on the conditions set forth in this Agreement. The Trustee shall not be responsible, however, for making such change of Beneficiary designations. Section 2. ADDITIONAL POLICIES The Trustor or any other person may at any time and from time to time add any additional policies of insurance to any Trust established herein by assigning such policies of insurance to the Trust, by assigning such policies to the Trustee or by causing the Trustee to be named as Beneficiary thereunder. Such policies, and the proceeds thereof, shall be subject to the terms and conditions of this Agreement. Section 3. TRUSTOR'S RIGHTS IN POLICIES The Trustor reserves during the Trustor's lifetime, and may receive or exercise without the consent or approval of the Trustee or any Beneficiary hereunder, all benefits, payments, dividends, surrender values, options, rights, powers, and privileges with respect to such polices, including, but not limited to, the following: A. Payments. The right to receive all disability benefits, dividends, payments, loan values, or surrender values. B. Loans. The power to borrow on, surrender, or pledge any of the policies. c. Options. The power to exercise any option, such as the power to convert to a different kind or amount of insurance or the power to select the method of settlement of the proceeds. Section 4. TRUSTEE TO EXECUTE NECESSARY INSTRUMENTS The Trustee agrees to execute, upon request of the Trustor, any releases or any other instruments necessary to assist the Trustor in exercising the reserved powers. Section 5. PAYMENT OF PREMIUMS N either the Trustee nor the Trustor shall be under any obligation, during the lifetime of the Trustor, to pay any premiums, assessments, or other charges necessary to keep the policies in force, nor shall either be under any obligation to ascertain whether the same have been paid or to notify any Beneficiary of this Trust of the non-payment of such premiums. -13- . . Section 6. SAFEKEEPING OF POLICIES The Trustee shall keep safely all policies deposited with it at no cost to the Trustor, but shall not be responsible for policies which do not come into its possession. Section 7. PROOF OF LOSS AND RECEIPT OF PROCEEDS Upon the death of the Trustor, the Trustee promptly shall furnish to the insurance companies proof of loss, and shall collect antl receive the proceeds of the policies, less so much of said proceeds as shall be required to payor provide for the payment of any liabilities or obligations to the insurer in respect of said policies. The net amount so received by the Trustee may be referred to herein as the "net proceeds" of the policies. In the collection of such proce,eds, the Trustee shall have the power to execute and deliver receipts and other appropriate instruments, and to take such legal action as is appropriate. Section 8. CONTESTED POLICY If the payment of any policy is contested, the Trustee shall be under no obligation to institute legal action for the collection thereof unless it is indemnified to its satisfaction for all costs including attorneys' fees. Section 9. REIMBURSEMENT FOR ADVANCES AND EXPENSES The Trustee may pay to itself out of the funds in its hands the amount of any advances made by the Trustee for expenses incurred in collecting or attempting to collect any sum from any insurance company by suit or otherwise. Section 10. DISCHARGE OF INSURANCE COMPANY No insurance company shall be responsible for the Trustee's application or disposition of the proceeds of any policy payable to the Trustee. The liability of an insurance company shall be discharged upon payment of such proceeds to the Trustee. -14- ARTICLE SIX: ADMINISTRATION OF THE TRUST UPON THE DEATH OF THE TRUSTOR Section 1. DISCRETIONARY PAYMENTS Upon the death of the Trustor, the Trustee is authorized, but not directed, to pay the following: Expenses for medical servic~s, funeral and burial; Legally enforceable claims against the Trustor or her estate; Reasonable expenses of administration of this Trust and probate estate, if any; and Federal and state taxes occasioned by the death of the Trustor. The payments authorized under this Section are discretionary, and no claims or right to payment by third parties may be enforced against the Trust by virtue of such discretionary authority. · The Trustee shall be indemnified from the Trust Property for any damages sustained by the Trustee as a result of exercising, in good faith, the authority granted the Trustee under this Section. The payments authorized under this Section shall only be paid to the extent that the property in the Probate Estate, if any, is insufficient to make these payments. Section 2. TRUSTEE'S AUTHORITY TO MAKE ELECTIONS The Trustee may exercise any available elections with regard to state or federal income, inheritance, estate, succession, or gift tax law. A. Alternate Valuation Date. The authority granted to Trustee in this Section includes the right to elect any alternate valuation date for federal estate or state estate or inheritance tax purposes. B. Deduction of Administration Expenses. The authority granted to Trustee in this Section shall include the right to elect whether all or any part of the administration expenses of the estate are to be used as estate tax deductions or income tax deductions. Any administration expenses claimed as income tax deductions shall be charged against the Living Trust. No compensating adjustments need be made between income and principal as a result of such elections unless the Trustee, in his sole discretion, shall determine otherwise, or unless required by law. -15- C. Taxes and Returns. The Trustee shall: Pay any necessary taxes, interest, or penalties with regard to taxes The Trustee may also: Sign joint tax returns. Apply for and collect tax refunds and interest thereon. -16- ARTICLE SEVEN: DISTRIBUTION OF PERSONAL PROPERlY Section 1. TANGIBLE PERSONAL PROPERlY Upon the death of the Survivor Trustor, the Trustee shall distribute tangible personal property held by the Trust as follows: A. Use of Gift Lists The Trustee shall distribute jewelry, clothing, china, silver, photographs, works of art, books, boats, antiques, artifacts, needlepoint, sporting goods, hobby items, and all other tangible articles of household or personal use in accordance with any written, signed and dated list left by the deceased Trustor and said list shall be incorporated by reference into this Trust, whether or not said list is attached to this Trust or to the deceased Trustor's Last Will and Testament. If multiple written lists exist which conflict as to the distribution of any item of tangible personal property, the list which is last dated shall control as to those items which are in conflict. B. Property Not Disposed of By Gift Lists The tangible personal property not disposed of gift lists or by the above instructions shall be distributed to the surviving Beneficiaries in substantially equal shares as they shall agree within sixty (60) days after my death. To the extent that the Beneficiaries fail to agree, the Trustee shall, in his sole discretion, either divide the property among the Beneficiaries, use the property for them, or sell the property and divide the proceeds among the Beneficiaries. Any decision made by the Trustee with respect to either the selection or sale of tangible personal property shall be final and binding on all Beneficiaries. The Trustee may select property for any Beneficiary who is under any form of legal disability, considering the desires of a Beneficiary when making a selection. C. Distribution on the Death of a Beneficiary If a Beneficiary should die before the complete distribution of the Beneficiary's share of tangible personal property, the Trustee shall distribute that Beneficiary's share to the Beneficiary's then living descendants, per stirpes. -17- . . ARTICLE EIGHT: THE COMMON TRUST Section 1. CREATION OF THE COMMON TRUST It is not the Trustor's desire to create a Common Trust for her children. All of the Trust Property which has not been distributed under prior provisions of this Trust shall be held, administered, divided and distributed according to the provisions of the Article and the Articles that follow. Section 2: SEPARATION OF THE TRUST PROPER1Y Immediately upon the death of the last surviving Trustor, the remaining Trust Property shall be divided "into as many equal shares as shall be necessary to create one equal share for each of the then living Beneficiaries and one equal share for each of the deceased Beneficiaries who has then living descendants. Section 3: DISTRIBUTION OF THE TRUST PROPERTY Immediately upon the death of the Trustor, the :remaining Trust Property shall be distributed in accordance with the Articles that follow. -18- ARTICLE NINE: DISTRIBUTIONS TO THE BENEFICIARIES AND THEIR DESCENDANTS Section 1. DISTRIBUTION TO EACH OF THE LIVING BENEFICIARIES The Trust share of each of my children who survive me shall be held, administered and distributed as follows: a. Distribution of Net Income and Principal My Trustee shall promptly distribute free of the trust all accumulated net income and principal of the trust share to each of my living children who survive me. b. Distribution Upon "Death of a Child Who Survives Me If any child who survives me dies before the complete distribution of his or her trust share, the child's trust shall terminate and my Trustee shall distribute the balance of the Trust property according to Article Nine, Section 2. If such deceased child has no then living descendants, my Trustee shall distribute the balance of the trust property equally to the other beneficiaries named in the Trust document, per stirpes. Section 2. SHARE OF A DESCENDANT OF A DECEASED BENEFICIARY Each share set aside for the deceased Beneficiaries, if any, who have then living descendants shall be divided, administered, and distributed as follows: A. Division into Separate Shares Each share set aside for a deceased Beneficiary who has then living descendants shall be divided into as many equal shares as shall be necessary to create one equal share for the deceased Beneficiary's descendants, per stirpes. B. Outright Distribution If any descendant of a deceased Beneficiary is over (25) twenty-five years of age and is not legally incapacitated, the Trustee shall distribute that descendant's share outright to that descendant. -19- , . c. Retention of a Minor's or Incapacitated Descendant's Share In Trust If any descendant of a deceased Beneficiary is under (25) twenty-five years of age, the Trustee shall retain that descendant's share in a separate trust for that descendant until he or she is (25) twenty-five years of age. If any descendant of a deceased Beneficiary is incapacitated, regardless of age, and the Trustee determines, in his sole discretion, that the descendant is unable to properly manage his or her financial affairs, then the Trustee may retain that descendant's share in trust until his or her disability has ceased. Each share set aside for a descendant of a deceased Beneficiary shall be held in a separate trust for each of such descendants, and shall be administered by the Trustee as follows: 1. Distribution of Trust Income and Principal The Trustee shall apply to or for the benefit of each of the descendants of a deceased Beneficiary, so much of the net income and principal for the descendant's share in trust as the Trustee, in his sole discretion, deems advisable for the descendant's education, medical care, support and maintenance in reasonable comfort. In making any distributions of income and principal under this Article, the trustee shall consider, to the extent she deems necessary, any additional sources of income and principal available to a descendant from any source outside of any trust created under this Agreement. 2. Distribution When A Descendant Attains (25) Twenty-Five Years of Age When a descendant of a deceased Beneficiary reaches (25) twenty-five years of age, and is not incapacitated, the Trustee shall distribute the balance of his share in trust to that descendant, per stirpes. 3. Distribution Upon Descendant's Death If a descendant should die before the complete distribution of her share, the trust shall terminate and all of the share shall be distributed to the then living descendants of the descendant, per stirpes. If the descendant has no then living descendants, the Trustee shall distribute the remaining share in trust to my then living descendants, per stirpes. -20- Section 3. DISTRIBUTIONS TO UNDERAGE OR DISABLED BENEFICIARIES Notwithstanding any other provision in this trust agreement, if any person otherwise entitled to receive a distribution of trust property is under (25) twenty-five years of age or is mentally disabled or legally incompetent as defin'ed in Article One, my Trustee shall retain and administer that person's trust property for his or her benefit as follows: A. My Trustee's Discretion My Trustee may pay to or apply for the benefit of such beneficiary so much of the net income and principal of the trust as my Trustee in its discretion deems proper considering all other sources of income and resources available to such beneficiary and known to my Trustee, B. Payments Made to Beneficiary or Personal Representative My Trustee is authorized to make payments under this Section either directly to the beneficiary, to the beneficiary's personal representative or to any other person my Trustee may deem proper to be used for the benefit of the beneficiary. C. Trustee's Decisions are Final All decisions by my Trustee as to those it makes payments to, the purposes for which these payments are made and the amounts to be paid out of the trust are within my Trustee's sole and absolute discretion. D. Undistributed Net Income All undistributed net income shall be accumulated and added to the principal of the trust. E. Termination and Distribution My Trustee shall distribute the trust property to a beneficiary under this Section when such beneficiary reaches age (25) twenty-five or when he or she is no longer disabled as determined by a court of competent jurisdiction or upon certification by two licensed physicians that such beneficiary is able to properly care for his or her property and person, or at a later date if other trust provisions in this Article direct. F. Death of Disabled or Underage Beneficiary Upon the death of a beneficiary under this Section, my Trustee shall distribute all of such beneficiary's remaining trust share, including the trust principal and accrued and undistributed income, to any person or entity, and upon any trust, terms, and conditions, or in favor of the estate of such deceased beneficiary, as he or she may direct by his or her last will or living trust agreement. -21- No exercise of this general power of appointment shall be effective unless it refers to this trust agreement and expressly indicates an intention to exercise this general power of appointment. ""22- ARTICLE TEN: DISTRIBUTION IF NO DESIGNATED BENEFICIARIES NONE -23- I certify that I have read the foregoing Revocable Living Trust Agreement and that it correctly states the terms and conditions under which my trust property is to be held, managed and disposed of by my Trustee(s). I approve this Revocable Living Trust in all particulars and request the Trustee(s) to execute it. .1f, IN WITNESS WHEREOF, the Trustor has hereunto subscribed her name, this .8 -day of j:f;6Ra Ill(' Y , 2000. ~ 11. ?!-udL. r:-~d;;t IRENE B. MONELL, TRUSTOR fd cI3 kr~ /7 --- r Url.z.- ./~~j' . ~ IRENE B. ONELL,'TRUSTEE Q f:jl~t7aJ L, TRUSTEE ~ STATE OF PENNSYLVANIA SS: COUNTY OF DAUPHIN On this ~day of ~ ' 2000, before me, the undersigned Notary Public, personally appeared IRENE B. NELL, TrustorfTrustee, and GILBERT F. MONELL, Trustee, known to me to be the individuals whose names are subscribed to the within instrument and acknowledged that they executed the same as their free act and deed and for the purposes therein contained. In Testimony Whereof I have subscribed my name and affixed my official seal in the County and State aforesaid, on the day and year above written. . r " -24- Notarial Seal Jan l. Brown, Notary Public lower P~xt~n Twp., Dauphin County My CommIssIon Expires Mar. 20, 2000 CERTIFICATE OF TRUST ~/ (~ The undersigned Trustor hereby certifies the following: 1. ~!1~.~jCi5tJ~f1f~~ of ~rust refers to THE IRENE B. MONELL LIVING TRUST dated - wIth IRENE B. MONELL as Trustor and IRENE B. MONELL and GILBERT F. MONELL as initial Trustees. 2. The disability Trustees for IRENE B. MONELL are: (1) GILBERT F. MONELL (2) MARY ANN GOETTEL and NANCY L. ZEIGLER 3. The death Trustee for IRENE B. MONELL is: (1) GILBERT F. MONELL (3) MARY ANN GOETTEL and NANCY L. ZEIGLER 4. The Trustees under the trust agreement are authorized to acquire, sell, convey, encumber, lease, borrow, manage and otherwise deal with interests in real and personal property in trust name. All powers of the Trustees are fully set forth in Article Four of the trust agreement. 5. The trust has not been revoked and there have been no amendments limiting the powers of the Trustees over trust property. 6. No person or entity paying money to or delivering property to any Trustees shall be required to see to its application. All persons relying on this document regarding the Trustees and their powers over trust property shall be held harmless for any resulting loss or liability from such reliance. A copy of this Certificate of Trust shall be just as valid as the original. The undersigned certifies that the statements in this Certificate O~twst~~~ tpJ,~"and correct and that it was executed in the County of Dauphin, Pennsylvania, on ~. ~'. J l",' ,_I LdjU , 2000. ~UV1~ IJ.. l1(-tmf if; IRENE B. MONELL . F M,., .~ >~ W ~ 1-.:. CERTIFICATE OF TRUST The undersigned Trustor hereby certifies the following: 1. 'Fhis")Certifleate of Trust refers to THE IRENE B. MONELL LIVING TRUST dated ," -"...J :~-' LUUU with IRENE B. MONELL as Trustor and IRENE B. MONELL and GILBERT F. MONELL as initial Trustees. 2. The disability Trustees for IRENE B. MONELL are: (1) GILBERT F. MONELL (2) MARY ANN GOETTEL and NANCY L. ZEIGLER 3. The death Trustee for IRENE B. MONELL is: (1) GILBERT F. MONELL (3) MARY ANN GOETTEL and NANCY L. ZEIGLER 4. The Trustees under the trust agreement are authorized to acquire, sell, convey, encumber, lease, borrow, manage and otherwise deal with interests in real and personal property in trust name. All powers of the Trustees are fully set forth in Article Four of the trust agreement. 5. The trust has not been revoked and there have been no amendments limiting the powers of the Trustees over trust property. 6. No person or entity paying money to or delivering property to any Trustees shall be required to see to its application. All persons relying on this document regarding the Trustees and their powers over trust property shall be held harmless for any resulting loss or liability from such reliance. A copy of this Certificate of Trust shall be just as valid as the original. The undersigned certifies that the statements in this Certificate o~1D!st~~ t,DJ,~~nd correct and that it was executed in the County of Dauphin, Pennsylvania, on ~- ~".J :~, ,_, L~0J , 2000. ~eA'1~ IS l1(/fmlt IRENE B. MONELL AFFIDAVIT OF TRUST J:::., /1 j/ r" -....... 0...:: 1. The following Living Trust is the subject of this Affidavit: THE IRENE B. MONELL LIVING TRUST dated ~()O 2. The Co-Trustees currently serving are: IRENE B. MONELL and GILBERT F. MONELL 3. The Trust is currently in full force and effect. Attached to this Affidavit and incorporated in it are selected provisions of the Trust evidencing the following: Article 1. Creation of the Trust and Initial Trustee Statement of Revocability Identification of Successor Trustees Article 4. Trustee Investment Powers Last Pages Trustor's and Trustees' Signatures and Notarization 4. The Trust provisions which are not attached to this Affidavit are of a personal nature and set forth the distribution of trust property. They do not modify the powers of the Trustees. 5. The signature of this Affidavit is currently the acting Trustees of The IRENE B. MONELL Living Trust dated Z/8 / 00 and declare that the foregoing statements and the attached Trust provisions are true and correct under penalty of perjury. 6. This Affidavit was executed at Harrisburg, Pennsylvania on ::d_\~ 0 U />ndL~ ~ yg.tcmdl~~ IRENE B. MONEL , Trustee . -