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Home My WebLink About01-1142 Estate of HERSHEY, Gladys M PETITION FOR GRANT OF LETTERS ~J'" 0 I-II '1l.. No. also known as , Deceased Social Security No. 199036068 I Petitioner(s), who is/are 1 B years of age br older, apply)ies) for: (COMPLETE "A" OR "8" BELJOW:) G] A. Probate .and Grant of Letters and aver that Petitioner(s) is/are the execut ors Decedent, dated 12/171/1985 and codicil(s) dated 1/26/1987 named in the Last Will of the State relevant circumstances, e.g., renunciation, death of executor, etc Except as follows, Decedent did nc)t marry, was not divorced and did not have a child born or adopted after execution of the documents offered for probate; was not the victim of a killing and was never adjudicated incapacitated: o B. Grant of Letters of Ildministration (c.I.a., d.b.n.c.l.a.: pendente lite, durante absentia; durante minoritate) Petitioner(s) after a proper search has/have ascertained the Decedent left no Will and was survived by the following spouse (if any) and heirs: n c ,.. '''',., =m d -n:::O ro --' I Name Relationship cr ~""" Residen~ " I {""'] (1\ r-l ;'" :: - :'7,) ';' CJ "" - OJ 'I, ...,., , , N :::::; '.r~ ,"" (I) '''', J;:' .~: I..AJ -, OJ County, Pennsylvania, with his/her last family or principal Decedent, then 82 Decedent at death owned property with estimated values as follows: (if domiciled in PA All personal property.................. ...................... $ (if not domilciled in PA Personal property in Pennsylvania .................... $ (if not dOmiiciled in PA Personal property in County.............................. $ Value of real estate in Pennsylvania ........................................................................................ $ T atal .................................................................................................. .................. $ Zxbo. c.-O , 6o,<J'"iX) . c..O \(;10. Cue. ,,~ Real Estate situated as follows: Wherefore, Petitioner(s) respectfully request(s) the probate of the Last Will and Codicil(s) presented with this Petition and the grant of letters in the appropriate form to the undersigned: Signature Typed or printed name and residence 7y act~ (t aJ Martin ~CARMACK 108 N Prince Street, Shi Carol CARMACK 108 N Prince Street, Shi PA 17257 PA 17257 1'1- ;;'7~ g 10-61-1 X~N~OllV 01 S~~11~1 a~1IVW L9ZH V'd 100Z .81 ~mIW~~:ma :031I.:l31V'0 9v06'Z89'L~L :auo4da/al 6Jnqsuadd!4S lsaM aoeld )fJed L8 ~ :ssaJpPV' v90B~ :ON '0'1 N lSaJo.:l 'S~3AI/IJ :AaUJOnV' OO.~ O~.iJ~Z SJnleu6!s ~ OO.iJZ O~ U L 00.~1 0/ ~ C SII!M)O JSIS!6s~ I ~ /I'"()J (J ~~'?/"oJ ~ ~ tJ 7(M OO.OOZ $............................. lV'101 $ $ $ $ $ $ $ $ ...................................... Ja4l0 ................................ AJOlUa^u I ................................. 1313.:1 d8r ................................... ..~TI ............... 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I {/ L/ JO Aep ~ ~\ S!4l 13w aJoJ13q >t8V'1/IJ~V'8 ~ U!lJel/lJ p13qlJosqns pue p13WJll1e pue Ol UJOMS r?J~v? -777?Jd; . .n '~I Ol 6u!pJoooe alelsa a4l JalS!u!wpe AlnJl pue lIaM II!M (s)J13UO!mad 'luap130130 a4l JO (s)a^!lelUaS13JdaJ leUOsJ13d se 'le4l pue (s)J13UO!l!l13d JO Ja!l13q pue a6p13IMOU)f 134l JO ls13q a4l Ol p13JJOO pue 13nJl 13Je UO!l!l13d 6u!o6aJoJ a4l U! slu13walels a4lle4l (s)wJWe pue (s)JeaMS paweu-aMqe (s)J13UO!l!lad 1341 pue/J13qwn8 JO AlunoJ e!UeAIASuuad !O 4lleaMuowwOJ e^!lelueseJde~ leUOSJed JO 4leo ZiJTT-I0-IZ 21-01-1142 pr; =(11 ::1 ;, c; . ~t \...: - co d - ::IJ m ~, ~..~ I,.,. :E3 .'.C., c:::J CJ ::g i".J W Q, co yo i ~. ." ('... ;..." " ~t.' " e ~ -r , . . . LAST WILL AND TESTAMENT OF 21-01-1142 GLADYS M. HERSHEY , I, GL,AII>YS M. HERSHEY, of the Borough of Shippensburg, Cumberland County, Pennsylvania, being of sound and disposing mind, memory and understanding do hereby make, publish and declare this as and for my Last Will and Testament, hereby revoking al~ other Wills and Codicils thereto, heretofore, made by me. FIRST I dirE~cr the payment of my debts and the expenses of my last illness and funeral from my estate as soon after my death as I convenient. I y may be done. In the event I am not the owner of a cemetery lot at the time of my death, I direct my Executor to I purchase suth lot with a contract for perpetual care and to improve the ~ot and have erected thereon a suitable monument and USi.ni therefor funds from my estate in such amount as she marker, in her sole discretion shall deem advisable. SECOND I give, devise and bequeath all my property, real, personal, or mixed to my husband, Edwin A. Hershey, provided he shall survive me bf, thirty (30) days. THIRD In the tvent my husband fails to survive me by thirty days, I then provi~e as follows: (a) I give1 devise and bequeath my real property situate at 112lNorth Earl Street, Borough of Shippensburg, CumbE!r. and County, pennsy I vania and Lot No. IA known I f \J '~ \' ,-,' " , ~ t .. as llQ North Earl Street, Borough of Shippensburg, I Cumberland County, Pennsylvania, to Martin Carmack and Carol Carmack, his wife, provided that said property shall not be sold for a period of two (2) years following the death of Edwin A. Hershey or Gladys M. Hershey, whichever shall die later. (b) I givel, devise and bequeath my real property situate at 113 North Earl Street, Borough of Shippensburg, Cumber~and County, Pennsylvania, unto Teena Carmack, provi~ed that said property shall not be sold for a period! of two (2) years following the death of Edwin A. Hershey or Gladys M. Hershey, whichever shall die later. (c) I gijve, devise and bequeath my real property situabe at 113 1/2 North Earl Street, Borough of ShiPpelnsburg, Cumberland County, Pennsylvania, unto Cindy ~armack, provided that said property shall not be sold for a period of two (2) years following the death of Edwin A. Hershey or Gladys M. Hershey, whichever shall die later. ~ (d) I give, devise and bequeath my vehicles to Martin t .~ ~ Carmac~ and Carol Carmack. (e) I direct that my household goods and tools be sold at a publ~c sale using auctioneer services as selected by my Exe~utor, the proceeds of said sale to be used to I I pay atl costs and expenses of my estate and inheritance taxes, the remainder to be divided equally I 2 r ..) i 1 r;:', 1'. ~ ~ 1 ~ ~ ~ , . . among Martin Carmack, Carol Carmack, Teena Carmack, and Cindy Carmack. (f) I give, devise and bequeath my savings account at Dauphin Deposit Bank and Trust Company, its successors and assigns, to Lodge 315, Masonic Lodge, Stewart Place, Shippensburg, Pennsylvania. (g) I giv~, devise and bequeath my checking account at I Dauphin Deposit Bank and Trust Company, its successors and assigns, to Becky Franklin. (h) In the event my cabin located in Cumberland County is not solId at the time of my death, I direct that the same b$ sold and the proceeds distributed to the Tall I Cedars of Lebanon, Valley Forest No. 145, or as direct~d by my attorney, Forest N. Myers, Esquire. FOURTH I give, devise and bequeath all the rest, residue and remainder of my estate unto Martin Carmack, Carol Carmack, Teena Carmack, and Cindy Carmack, in as nearly equal shares as possible, E~ stirpes. FIFTH It is my wish that Martin Carmack and Carol Carmack care for me if my husband predeceases me. SIXTH I direc~ that my safe deposit box at Dauphin Deposit Bank I and Trust Company be opened in the presence of my Executor and attorney, Fortst N. Myers, Esquire. I 3 f ~\ ~~ '\.,' ~ '~, .~ ~, SEVENTH I hereby direct that all inheritance, estate or transfer taxes imposed upon my estate, whether passing under this my Last Will and Tlestament or otherwise, be paid out of my estate. EIGHTH Any and all sum or sums, whether in cash or in kind and whether for principal or income, payable to the beneficiaries, 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 or pledge and free from control by the creditors of such beneficiary. All shares of principal and income herein given shall be free from anticipation, assignment, pledge or obligation of any beneficiary and shall not be subject to any execution or attachment. NINTH I nominate, constitute and appoint my husband, EDWIN A. HERSHEY, Executor of this my Last Will and Testament. In the event of the death, resignation, renunciation or inability to act for any rE~a!son whatsoever of my said husband, I nominate, constitute and appoint MARTIN CARMACK and/ or CAROL CARMACK, Co- Executors of this my Last Will and Testament. I hereby relieve my Executor from the necessity of posting security in connection with his duties as such in any jurisdiction in which he may be called upon to act, insofar as I am able by law to do so. TENTH I directj: that my Executor retain the services of Forest N. Myers, Esqui~e, as attorney for my estate. 4 IN WITNISS WHEREOF, I have hereunto set my hand and seal to this my I.a$t Will and Testament, consisting of five (5) typewritten Ipages, the first four (4) of which bear my signature in the mar<gi!n for the purpose of identification this /7 day of R~~ , 1985. ~ .~ ./ y4 ~"?n.. / Gladys M.' Hershey Testatrix SIGNED, SEALED, PUBLISHED AND DECLARED by the above named Testatrix, Gladys M. Hershey, as and for her Last Will and Testament, in the presence of us who at her request and in her sight and p~esence and in the sight and presence of each other have hereunto subscribed our names as witnesses: ~*- !~\- LC) ~~Ln~ LV ~~t#- 'J I COMMONWEALT'HOF PENNSYLVANIA COUNTY OF F~NKLIN . . . . SS . . I, GLAD~S M. HERSHEY, the Testatrix whose name is signed to the foregOingl instrument, having been duly qualified according to ! law, do hE~r~by acknow ledge that I signed and executed the 5 -r--- instrument as my Last Will and Testament; that I signed it willingly; ~nd that I signed it as my free and voluntary act for the purposes therein expressed. ~~~ 07, J4~~ Gladys M. Hershey Testatrix Sworn or aJCffrmed to and acknowledgE:!d before me by Gladys M. Hershey, Testatrix, the / 7 ~ day of J)eeem 6e.r 1985. ~~. ~d ~ Notary PubllC JG'fCtA CRu(J'oc "O~'"YP'''"''' . ..h.., n IA.F. 'l.d:~..lt; SOUTHAMPTON n'lp" F!lAf!l\l!N :~'Ut:;y ~I' COMMISSIon f)(PIRES JM :', 1:;87 COMMONWEALTH olel1fttlms~II![Ati01l ~ r;olm's : SS COUNTY OF I~RlNKLIN We, _~rt..sf-;v.' /"I'(ers . . and LU~~drcw hJrfld witnesses w~ose names are signed to the foregoing instrument, being duly qhalified according to law, do depose and say that we were present and saw GLADYS M. HERSHEY, Testatrix, execute the instrument ~s her Last Will and Testament, that she signed it willingly ana that she executed as her free act and voluntary act for the purposes therein expressed; that each of us in the hearing and ~i9ht of the Testatrix signed the Will as witnesses; 6 and that to the best of our knowledge the Testatrix was at the undue influence. time eighteen or more years of age and under no constraint or Sworn to and subscribed before ~. t::~ Notary P blic My Conunissiol'i Expires: Jiihqi A. CiWU;;E, fjtlf.4ii'f Hi:;;:C SO~iTHAMPTON TWP nlUl:il'1l h';i"'f" fg'( COMMISSION fXr-IRis JAri 5,'-1';~7 Membi!r, Pennsylvania A~5()ci~i;(1r. of ~'olari~s ..Lt0~ \6...A ~ '. ~ UJt'~d,uuJ vL)'5 . 7 r (JJ I 11 11 1'1 Z (/l lD ~ 1) (;) 0 "U CD 1'1 ~ Z (Jl Z <0 ~ U1 r < :l> Z :l> --.J N U1 --.J '- "TJ )>0 -I :0 -I ITJ o Ul ~ -l ~ Z ~ ~ , -< ~ ITJ :E :0 Ul aG ~(D 3 i' 0- (r,t 9? [,. ", d --' t::J CJ -" 00 :g 1'..) i.J 1:....J J:> 00 ::0 :o~ ri) " (~~, r~~. r ~'i \:' (!,- ,- FIRST CODICIL OF 21-01-1142 LAST WILL AND TESTAMENT OF GLADYS M. HERSHEY I , GLADYS M. HERSHEY, of the Borough of Shippensburg, Cumbl=rlland i Testo.mjent I I Count~, Penns~lvania, having made m~ Last Will and dated _Q~c~~~l~, 1985, do hereb~ make, publish and decla~e this to be a Codicil to m~ said Last Will and Testament. FIRST I Hereb~ revoke subparagraphs [g] and [h] of paragraph THIRD of m~ ILast Wi 11 and Testament. SECOND I hereb~ confirm and republish m~ will, dated _December...l7_, 1985, in all respects other than those herein mentioned. ~N WITNESS WHEREOF, I , GLADYS M. HERSHEY, have to this LOdlC11 to m~ Last Wlll and lestament, dated Dec~r_lL_, 1~8~, subSCD ibed m~ name and set m~ seal this ~~_ da~ of --~~""t------ , 1987. ~_~_~~___m_ SIGNED, SEALED, PUBLISHED AND DECLARED b~ the above named, GLADYS M. HERSHEY, as and for a Codicil to her Last Will and Testartent, in the presence of us who at her request and in her sight and presence and in the sight and presence of each other FOREST N. MYERS have hereunto subscribed our names as witnesses: ATTORNEY AT LAW P. o. BOX F SHIPPENS8URG. PA t 7257 -11~AQ~~~~-~---- 1 ". COMMIONWEALTH OF PENNSYLVANIA SS COUNTY OF FRANKLIN I, GLADYS M. HERSHEY, whose name is signed to the foregoing instc-ument, having been dul~ qualified according to law, do hereb~ acknowledge that I signed and executed the instrument as my Last Will and Testament; that I signed it willingl~; and that I signed it as m~ free and voluntar~ act for the purposes therein expressed. ~~_~._2~~_______ GL~D~S M. HERSHEY Sworn .or affirmed to and acknowledged before me b~ Glad~s M. Hershe~, the ~~~__ da~ of ~~LWV~~___, 1987 . ~-" u ---~~~" !~-~~.~------ Notar~ Public MY COMMIS~inN EXPIRES MI,y '''". ;\J,<jg." I ~,~A;:ri;j;,~ ~ri m'h.~r 1,. ~ .1,';'~~(,j~!~::L:, rn~J~~(~ .~ :'\; ~\~",:~,~:.,,,':.-;;~j::.,~. 2 w- I! 11 i .' .,. COMMONWEALTH OF PENNSYLUANIA SS COUNTY OF FRANKLIN We, --~R,~~\~u.\::\~~ and ---~~~.1.~~~~_____' the the witnesses whose names are signed to the foregoing instru- ment:, being dul~ qualified according to law, do depose and so~ that: we were present and saw GLADYS M. HERSHEY, sign and execute the instrument as a Codicil to her Last Will and Testament, that she signed it willingl~ and that she executed it as her free and voluntar~ act for the purposes therein expressed; that each of us in the hearing and sight of GLADYS ~'l . HEj:RSHEY, signed the Codicil as witnesses; and that to the best of our knowledge she was at the time eighteen or more ~ears of age and under no constraint or undue influence. '111@7flL_~_:-__-_____ Sworn 'to and subscribed before me b~~4.'--~'_~Y>L~i.~i:'_ and ~~t):...<:"~_~___, wi tnesses, this -Qk-~- da~ of ~~ts---, 1987, __IJ~~~~~___________ f\Jotar~ Publ ic MV Lr;~',5;=~iT'\::<>;7-_:~ ~:;.,'.' ;;{i~i 11,',',::" ",' 'j,' ~;!-::," ,:. :;,: ~HA[~;~:j~; J~'?)i:i::'7': I I 3 REV. 1GOO EX. (G.oOj . ~ .. I REV-1500 INHERITANCE TAX RETURN RESIDENT DECEDENT I /~- )/7- '1 FILE NUMBER - 21 01 c. I COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE DEPT,280601 HARRISBURG, PA 17128.0601 01142 ~ Z W o w U w o 1 DECED-ENT;S NAME (LAST, FIRST, AND MIDDLE INitIAL) - ____m_______________n____ : Hershey, Gladys M , i-DATE 01- UI::AIH {MM.UU-YI::A~-----r=F-BIRTH (MM-DD-YEAR)'- ------ : 12/06/200 I . 05/19/1919 I (IF APPLICABLE) SURVivlNGSPOUSE'S NAME ( LAST, FIRST AND MIDDLEHlffTIALl _l_____~OUNTyC.SJP~~~R NUMBER I SOCIAL SECURITY NUMBER 199-03-6068 THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS SOCIAL SECURITY NUMB~----- o - 3~-RE![riajnder ReTufiqaale ora8aifi.pi-TcirTci 1Z~f3:.a2) III Original Return 0 2. Supplemental Return w ~ 0 4. Limited Estate 0 4.. Future Interest Compromise (date of death :.::~(I) U~'" after12-12~2) wo.u Decedent Died Testate (Attach copy 7. Decedent Maintained a Living Trust (Attach zOO III 6. 0 u~~ o.m of Will) copy of Trust) 0. " 0 9. Litigation Proceeds Received 0 10. Spousal Poverty Credit (data of death between 12-31-91 and 1-1-95) ~ z w o z o 0. AME i Forest N Myers 11~~~Motri~:j~~;~st N Myers jrELEP-HONE-NUMBER------- - ----- ---------- 717 /532-9046 1. Real Estate (Schedule A) z o ~ ~ ~ ~ ~ " u w '" 2. Stocks and Bonds (Schedule B) 3. Closely Held Corporation, Partnership or Sole-Proprietorship 4. Mortgages & Notes Receivable (Schedule D) 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) 6. Jointly Owned Property (Schedule F) o Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G or L) 8. Total Gross Assets (total Lines 1-7) 9. Funeral Expenses & Administrative Costs (Schedule H) 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) 11. Total Deductions (total Lines 9 & 10) 12. Net Value of Estate (Line 8 minus Line 11) o 5. Federal Estate Tax Return Required I 8. Total Number of Safe Deposit Boxes o 11. Election to tax under Sec. 9113(A) (Attach Sch 0) ,~ COMPLETE MAILING ADDRESS 137 Park Place West Shippensburg, P A 17257 (1) 110,400.00 (2) None:>~'" (3) None (4) None (5) 32,286.48 (6) None (7) None (9) 13,406.98 (10) 4,736.08 C i"_. --J ~ (8) 142,686.48 (11) 18,143.06 124,543.42 (12) 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) 14. Net Value Subject to Tax (Line 12 minus Line 13) -----r------ -- SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15.Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116(a)(1.2) z g 16.Amount of Line 14 taxable at lineal rate " ~ ~ fi 17.Amount of Line 14 taxable at sibling rate o u S 18. Amount of Line 14 taxable at collateral rate 19. Tax Due 20. 0 (13) (14) 124,543.42 x .00 (15) ------- x .045 (16) - ---------------- x .12 (17) 124,543.42 x .15 (18) 18,681.51 (19) 18,681.51 ------------ CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT. Copyright 2000 fonn software only The Lackner Group, Inc. Form REV-1500 EX (Rev. 6-00) O,?cedent's Complete Address: STREET ADDRESS 112 North Earl Street ciTY i STATE PA i ZIP 17257 Shippensburg Tax Payments and Credits: 1. Tax Due (Page Hine 19) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount (1) 18,681.51 .. T5,01rO. 00 71lll.47 Total Credits (A + B + C) (2) 15,789.47 3. Interest/Penalty if applicable D. Interest E. Penalty TotallnteresUPenalty (0 + E) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. (4) Check box on Page 1 Line 20 to request a refund 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) A. Enter the interest on the tax due. (SA) B. Enter the total of Line 5 + SA. This is the BALANCE DUE. (58) 0.00 2,892.04 2,892.04 Make Check Payable 10: REGISTER OF WILLS, AGENT 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?. 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ............... ................................................................................. 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;. ............................................................... 0 181 b. retain the right to designate who shall use the property transferred or its income: .... .......................... 0 181 c. retain a reversionary interest; or.. 0 181 d. receive the promise for fife of either payments, benefits or care?. 0 181 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration?. 0 Ia o ~ 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. ----------- 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. :~d;::~;:i:~: -~::::._~~~p~gn~~J:~n~~xlrr~s57 DATE 7'-.3 c1..l.. ------ DATE S?:tU~PARdTH~PR~ 108 North Prince Street Shippensburg, P A 17257 C(-a-zl~ -----~-- - A"DURESS ~ 137 Park Place West Shippensburg, PA 17257 "" - ~ - O~ For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3% [72 P.S. ~9116 (a) (1.1) (i)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 0% [72 P.S. 39116 (a) (1.1) (ii)l. 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 0% [72 P.S, 39116 (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 4.5%, except as noted in 72 P.S. 39116 1.2) [72 P.S. ~9116 (aJ (1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% (72 P.S. 39116 (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. r '* SCHEDULE A REAL ESTATE COMMON'NEAL TH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT I FILE NUMBER 21-01-01142 ESTATE OF Hershey, Gladys M 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 whicti is jointly-owned with right of survivorship must be disclosed on schedule F. iTEM NUMBER 1 DESCRIPTION VALUE AT DATE OF DEATH 5 r,900.00 ---- Residence, 112 North Earl Street, Shippensburg, Cumberland County, Pennsylvania, per appraised value 2 Apartment house, 113-113.5 North Earl Street, Shippensburg, Cumberland County, Pennsylvania, per appraised value 58,500.00 TOTAL (Also enter on Line 1, Recapitulation) 11 0,400.00 ESTATE OF . SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorshIp must be disclosed on schedule F. ITEM NUMBER -1- 2 3 4 5 6 7 8 COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN 1 RESIDENT DECEDENT _ _____ I _ Hershey, Gladys M -----..--- ! FILE NUMBER- 21-01-01142 VALUE AT DATE OF DEATH 11,583.87 4,326.22 10,167.26 1,016.03 1,088.55 1,176.32 1,200.00 1,728.23 32,286.48 DESCRIPTION Orrstown Bank, checking account #624608 Orrstown Bank, checking account #625078 Orrstown Bank, certificate of deposit #30038903 Orrstown Bank, certificate of deposit #30042174 Orrstown Bank, certificate of deposit #30045973 Allfirst Bank, checking account #97290025 1989 Dodge Aries, vin #IB3BK46D4KC468430, per appraised value Household goods and personal property, net of sale TOTAL (Also enter on Line 5, Recapitulation) ESTATE OF .. COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT 1_______ SCHEDULEH FUNERAL EXPENSES & ADMINIS1RA11VE COSTS ~ ! FILE NUMBER 21-01-01142 Debts of decedent must be reported on Schedule I. ITE~ NUMBER, L___ __ . ______ A. 'I FUNERAL EXPENSES: , Fogelsanger-Bricker Funeral Home Hershey, Gladys M B. , ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions DESCRIPTION AMOUNT Social Security Number(s) I EIN Number of Personal Representative(s): Street Address City State Zip Year(s) Commission paid Attorney's Fees Law Office Forest N Myers -- Forest N Myers 4. 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. 1 2 Other Administrative Costs Summit Health Service, medical 2. 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City Relationship of Claimant to Decedent Probate Fees Register of Wills, probate fees Register of Wills, filing fee inheritance tax return State Zip 3 Apex Valuation Services, appraisal of real property Cumberland Law Journal, advertisement of lelters , 1______- Total of Continuation Schedule(s) ul- 6,366.40 4,200.00 254.50 15.00 5.00 600.00 75.00 1,891.08 13,406.98 TOTAL (Also enter on line 9, Recapitulation) '* Schedule H FunemJ Expenses & Administrative Costs continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Hershey, Gladys M 10 4 News Chronicle, advertisement of letters 5 6 7 8 9 GPU Energy, electric Penn-Mar Fuels, heating oil Borough of Shippensburg, water, sewer, refuse Sprint Telephone, telephone service Lisa Helm, Tax Collector Ruth Ann Mooney i lFii.:E NUMBER 21 - 01 - 01 142 Page 2 of Schedule H 79.22 95.84 383.48 701.46 4.03 592.05 35.00 ESTATE OF *' COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT Hershey, Gladys M SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS L_. Include unreimbursed medical expenses. ITEM NUMBER Unsecured loan, Allfirst Bank, account #10190411800 I DESCRIPTION .-.1. I FILE NLiMBE~ 21.01-01142 TOTAL (Also enter on Line 10, Recapitulation) AMOUNT 4,736.08 4,736.08 '* SCHEDULE J BENEFICIARIES COMMONINEAl TH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Hershey, Gladys M __NUM~ERL N~ME -AN~ADDRE~S~~PERSON~~ECEI~NGPROPERTY I. . TAXABLE DISTRIBUTIONS (include outright spousal distributions) I Carol Cannack and Martin Cannack 108 North Prince Street ! Shippensburg P A 17257 I FILE NUMBER 21-01-01142 RELATIONSHIP TO I DECEDENT Do Not list Trust!!!!(sl_---+- -I I none AMOUNT OR SHARE OF ESTATE 1112 North Earl Street and residue of estate 2 Teena Cannack Gavlak 113 South Queen Street Shippensburg P A 17257 I none 1113 North Earl Street 3 'I Cindy Sue Cannack 113 North Earl Street . Shippensburg P A 17257 none 1113.5 North Earl Street Enter dollar amounts for distributions shown above on lines 15 through 17, as appropriate, on Rev 1500 cover she t II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTiON 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE I B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS ! ~OTAL OF PARTII - EN_TER TOTAL NON-TAXABLE DISTRIBUTIONS ON =INE_13 OF~EV-150~ COVER SHE1T ~(Q)[fDV 21-01-1142 FIRST CODICIL OF LAST WILL AND TESTAMENT OF GLADYS M. HERSHEY I , GLADYS M. HERSHEY, of the Borough of Shippensburg, Cumberland County, PennSbllvonia, having made my Last Will and Testament, dated _Q~c~~~lL, 1885, da hereby maKe, publish and declare this ta be a Codicil to my said Last Will and Testament. FIRST I hereby revaKe subparagraphs [gJ and [hJ of paragraph THIRD of my Last Will and Testament. SECOND I hereby canFirm and republish my will, dated _~er~_, 1865, in all respects ather than those herein mentioned. IN WITNESS WHEREOF, I, GLADYS M. HERSHEY, have to this LoOlCll to my Last Wlll ano Jestament, dated DeceOCer_1L_, l~o~, subscribed my name and set my seal this ~~j~ day of --~Qk~~ll-----' 1587. }j&r>-~~_~._7A~~_______ GLAD~ M. HERSHEY SIGNED, SEALED, PUBLISHED AND DECLARED by the above named, GLADYS M. HERSHEY, os and For a Cadicil to her Last Will and Testament, in the presence of us who at her request and in her sight and presence and in the sight and presence aF eacn ather FOREST N'. MYERS hove hereunto subscribed our names os witnesses: ATTORNEY AT I.AW p, O. SOX F SH:F'FENSaURG, FA 172S7 .~ 1Za-J.Tjj-:_Cfk~_,---_- 1 COMMONWEALTH OF PENNSYLUANIA SS COUNTY OF FRANKLIN I, GLADYS M. HERSHEY, whose nome is signed to the Earegoing instrument, hoving been dul~ qualiEied according to low, do hereby acknowlEdge that I signed and executEd the instrument as my Last Will and TEstament; that I signed it willingl~; and that I signed it as my Eree and voluntar~ act Eor the purposes therein expressed. M_~J!:-_~'_2~-::~~_______ GLADfS M. HERSHEY Sworn or oEfir~Ed to and acknowledged bEE ore me by Glodus M. Hershey, the ..2~~ da~ oE ~'\..l..>(t.''"''''tr---, 1587. ____(~CIl ~~~-' ~Cb' "f'-______ Notar~ Public ~y COI/;J.iS~iD~ [~PiF;LS WI ~~. :;~1 I t!p:;~,q~ ~:'i G~~.=:f :\; ;::~:':":,.::i::G, rt;iX~:~: .::.~.Y~'\:, ~\Et::.:':~\:.;\ 2 COMMONWEALTH OF PENNSYLVANIA COUNTY OF FRANKLIN We, --tl~R.~:s.~L~!:: and ---\)~~.b~~~~~_____, the SS the witnesses whose names aee signed to the fOeegoing insteu- ment, being dul~ qualified occording to law, do depose ond sa~ thot we weee peesent and sow GLADYS M. HERSHEY, sign ond execute the instrument os 0 Codicil to her Lost Will and Testament, thot she signed it willingl~ ond thot she executed it os her feee ond voluntoe~ oct for the pUeposes theeein expressed; thot each of us in the heoring ond sight af GLADYS M. HERSHEY, signed tr.e Codicil os witnesses; ond that to the best of Our knowledge she WQS at the time eighteen or 80re ~eors of age c~d undEr no constraint or undue influence. ~ '111~t-jO-"_~~_~________ .....---- Sworn to and subscribed befoee me b~ ~-""--~._~"-"-~""'~~[_ and ~~~~~~~~_~___, witnesses, this -~""-~_ dc~ of ~~tl---, 15B7. --~~2i~~~~___________ Notor~ Public IH ~0~~.:::~,~~ ~;::~;~..: ;~:.. 2~ ~.{:'i ! I.I~:':~';" 'i:' ~;+:~': : --. ~~",;':::.L; :': :{-~. ; :Y. 3 yo i ~ ., "- ~ ~~ ~ (C(Q)[}2YV LAST WILL AND TESTAMENT 21-01-1142 OF GLADYS M. HERSHEY I, GLADYS M. HERSHEY, of the Borough of Shippensburg, Cumberland County, Pennsylvania, being of sound and disposing 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 thereto, heretofore, made by me. FIRST I direct the payment of my debts and the expenses of my last illness and funeral from my estate as soon after my death as conveniently may be done. In the event I am not the owner of a cemetery lot at the time of my death, I direct my Executor to purchase such lot with a contract for perpetual care and to improve the lot and have erected thereon a suitable monument and marker, using therefor funds from my estate in such amount as she in her sole discretion shall deem advisable. SECOND 1 give, devise and bequeath all my property, real, personal, or mixed to my husband, Edwin A. Hershey, provided he shall survive me by thirty (30) days. THIRD In the event my husband fails to survive me by thirty days, I then provide as follows: (a) I give, devise and bequeath my real property situate at 112 North Earl Street, Borough of Shippensburg, Cumberland County, Pennsylvania and Lot No. lA known 1 ~ ~ ] \' '" ~ t ~. (d) ., as 110 North Earl Street, Borough of Shippensburg, Cumberland County, Pennsylvania, to Martin Carmack and Carol Carmack, his wife, provided that said property shall not be sold for a period of two (2) years following the death of Edwin A. Hershey or Gladys M. Hershey, whichever shall die later. (b) I give, devise and bequeath my real property situate at 113 North Earl Street, Borough of Shippensburg, Cumberland County, Pennsylvania, unto Teena Carmack, provided that said property shall not be sold for a period of two (2) years following the death of Edwin A. Hershey or Gladys M. Hershey, whichever shall die later. (c) I give, devise and bequeath my real property situate at 113 1/2 Nort hEar 1 St reet, Borough of Shippensburg, Cumberland County, Pennsylvania, unto Cindy Carmack, provided that said property shall not be sold for a period of two (2) years following the death of Edwin A. Hershey or Gladys M. Hershey, whichever shall die later. I give, devise and bequeath my vehicles to Martin Carmack and Carol Carmack. (e) I direct that my household goods and tools be sold at a public sale using auctioneer services as selected by my Executor, the proceeds of said sale to be used to pay all costs and expenses of my estate and inheritance taxes, the remainder to be divided equally 2 r i i ~ '0 ~ ~ ~ - among Martin Carmack, Carol Carmack, Teena Carmack, and Cindy Carmack. (f) I give, devise and bequeath my savings account at Dauphin Deposit Bank and Trust Company, its successors and assigns, to Lodge 315, Masonic Lodge, Stewart Place, Shippensburg, Pennsylvania. (g) I give, devise and bequeath my checking account at Dauphin Deposit Bank and Trust Company, its SUCcessors and assigns, to Becky Franklin. (h) In the event my cabin located in Cumberland County is not sold at the time of my death, I direct that the same be sold and the proceeds distributed to the Tall Cedars of Lebanon, Valley Forest No. 145, or as directed by my attorney, Forest N. Myers, Esquire. FOURTH I give, devise and bequeath all the rest, residue and remainder of my estate unto Martin Carmack, Carol Carmack, Teena Carmack, and Cindy Carmack, in as nearly equal shares as possible, per stirpes. FIFTH It is my wish that l~artin Carmack and Carol Carmack care for me if my husband predeceases me. SIXTH I direct that my safe deposit box at Dauphin Deposit Bank and Trust Company be opened in the presence of my Executor and attorney, Forest N. Myers, Esquire. 3 f "" ~ ~ ..~~ "t .,,12 ~ . SEVENTH I hereby direct that all inheritance, estate or transfer taxes imposed upon my estate, whether passing under this my Last Will and Testament or otherwise, be paid out of my estate. EIGHTH Any and all sum or sums, whether in cash or in kind and whether for principal or income, payable to the beneficiaries, 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 or pledge and free from control by the creditors of such beneficiary. All shares of principal and income herein given shall be free from anticipation, assignment, pledge or obligation of any beneficiary and shall not be subject to any execution or attachment. NINTH I nominate, constitute and appoint my husband, EDWIN A. HERSHEY, Executor of this my Last Will and Testament. In the event of the death, resignation, renunciation or inability to act for any reason whatsoever of my said husband, I nominate, constitute and appoint MARTIN CARMACK andl or CAROL CARMACK, Co- Executors of this my Last Will and Testament. I hereby relieve my Executor from the necessity of posting security in connection with his duties as such in any jurisdiction in which he may be called upon to act, insofar as I am able by law to do so. TENTH I direct that my Executor retain the services of Forest N. Myers, Esquire, as attorney for my estate. 4 IN WITNESS WHEREOF, I have hereunto set my hand and seal to this my Last Will and Testament, consisting of five (5) typewritten pages, the first four (4) of which bear my signature in the margin for the purpose of identification this /7 day of j/~",-, , 1985. /!I/~f4 -07. /~ Gladys M.VHershey ~ Testatrix SIGNED, SEALED, PUBLISHED AND DECLARED by the above named Testatrix, Gladys M. Hershey, as and for her Last Will and Testament, in the presence of us who at her request and in her sight and presence and in the sight and presence of each other have hereunto subscribed our names as witnesses: ~* '~ '-, \ .I L{ ) ~~LrU./ W!U;Jd- /') - COMMONWEALTH OF PENNSYLVANIA COUNTY OF FRANKLIN : SS : I, GLADYS M. HERSHEY, the Testatrix whose name is signed to the foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the 5 instrument as my Last Will and Testament; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expressed. ~~* m. J?;t.4-I'4 Gladys M. Hershey . Testatrix Sworn or affirmed to and acknowledged before me by Gladys M. Hershey, Testatrix, the /7 M day of dJec.em her 1985. . ~. C:l cz'<w Notary Publ~c JOYC' A c'''''' Ji.O".". "'o"C .. . 11<...""...., i-tr;, r"Cli. SOUTli1.lt{;:TOrl m'p., f,'t,tJinJN -C~'Uf.'H' I<<Y COM~;SS:OH HPIRfS JAil. 5, 1>07 COMMONWEALTH oflo''''P'Bims'i'LVANnii'' c:! 1'<1"',, : SS COUNTY OF FRANKLIN h,n.d- Ill. MI(YS : We, and tJ~.drow JUri/ht witnesses whose names are signed to the foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw GLADYS M. HERSHEY,Testatrix, execute the instrument as her Last Will and Testament, that she signed it willingly and that she executed as her free act and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the Testatrix signed the Will as witnesses; 6 and that to the best of our knowledge the Testatrix was at the time eighteen or more years of age and under no constraint or undue influence. \ ~ i- 0~ . ~ W"d:7-.'uJ vU Sworn to and subscribed before --' me by I-ore-sf IV. MflU'S and LJt90drow fur-fAt ,witnesses, this /7 Wi day of ~kr- 1985. ~(L C ~.,. Notar P'blic My Comrnissioh Expires: JGrCi A. C~Oi.!5E. !i0TAn' H;.~~.:C SC'UTHkMPTON 'rn'P., F~_t.~;~U" CC'l:r:T': MY COMMISSION fX?If;fS Ji.ri. 5. 1><7 M6'l'1ter, P~r.ns)'f\'i~;2 !.~::.jC;,i;n: of ~;otZ:fks 7 . , APPRAISAL OF REAL PROPERTY LOCATED AT: 113-113.5 North Earl Street Shippensburg, PA 17257 FOR: Carol A. Carmack 108 North Prince Street Shippensburg, PA 17257 AS OF: January 18, 2002 BY: Apex Valuation Services 1 West King Street, Suite 2A Shippensburg, PA 17257 Fonn GA3 -"TOTAL 2000 for WIndows. appraisal software by a la mode, 11IC.-1.800.ALAMOOE Apex Valuation Services 1 West King Street, Suite 2A Shippensburg, PA 17257 January 28, 2002 Carol A. Carmack 108 North Prince Street Shippensburg, PA 17257 Re: Property: Borrower: File No.: 113-113.5 North Earl Street Shippensburg, PA 17257 NfA 203 In accordance with your request, we have appraised the above referenced property. The report of that appraisal is allached. The purpose of lhis appraisal is to estimate the market value of the property described in this appraisal report, as improved, in unencumbered fee simple tille of ownership. This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and city. and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The value conclusions reported are as of the effective date stalod in the body of the report and contingent upon the certification and limiting conditions attached. It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional service to you. Sincerely, 0{{) ~r Joseph W. Elhali, President , FreddlllMacfom170 ftI93 Apex Valuation Services (717)530-8701 . , PAGE10F2 FannleMaaFoonl0041l193 .."A__._,,_ UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 203 Prol'lllrlv-Address 113.113.5 North Earl Street O;;;-Shi ensbur State PA ZlD Colllll7257 ~DescrlD1ion See Deed Courltv Cumberland _Assessor's Parcel No. 34-33-1867-034 Tax Year 2001 RE. TaxesS 1.013.64 SoeclalAssassmentsSO.OO Borrower N/A Current Owner Edwin A. and Glad"s M. Harsha" Otcu"ant: M Owoor i1 Tenant ilVacant ..~htsa;.;;;;lsed """'l'\(]FeeSl~eTILeasehold ProectT I PUD I Condominium IHUONA onM HOAt N/A IUD. N.l~l)QortlOodorProlectName NIA Ma.l!.1Merence Streets 98 CensusTractN/A Sale~}l NIA DateofSaleNIA DescrlDllon aOlu.am!lJJ.!lLQ1J~eslconcesslons 10 beJI~id by seller N/A lender.lient Carol A. Cannack Mdress 108 North Prince Stree~DDensburo. PA 17257 "'''nralser Jose"h W. Elha;; Address 1 West Kin" Street Suite 2A Shirmensburo PA 17257 location i><J No! ika~ 0 Uka~ GrowttJrare [] Rapld i><IStable [J Slow i><JSlable I-j O"lInl" 1.1 Teoant ~p--.l!~~ Mum-famJ~ _ To: Deman<Vaupply []Shortage Wlnbalance I J Oversupply kJ Vacanl(O.5%1 ^."/!.'1"oJ: Predominant 'j- Commercial 15 !4~ngJlm---L..Clvnder 3 mos. M 3-6 mos. I-I Over 6 mos. ~lover5"i 75 90 Note: Race and the reelel composition 01 tha nelghborhoDd are not appraisal feelors. Nelghborflood boundaries and characterlstlcs: ..J!l.9 subiect is bound to the north ;:md south by residenUal housinQ. to the east bv an allev. and 10 the _ .west by North Earl Street. The neiohborhood is characterized bv residential and commercial use. : factors that aIfect the marketability 01 the propertles In the nelghbortlood (proximity to employment and amenftles, employment stability, appeal to market, etc.): The sublect is located in the BorouQh of ShipoensburQ, II is made UP primarilv of attached and detached sinole family dwellinos. Some of .. these have been converted into small commer~roDerties which serve the needs of the local community. The subiect is iust over 2.5 miles west of the nearest access ramILto Interstate 81. Interstate 81 is the areas main interstate that runs in a aeneral north-south direction. Maintenance levels are averaae overall and there are no locational factors that would neQativelv influence value or marketability. Market condilions In the subJect neighborhood Qncludlng support lor the above concluslons relatad to tha trend olpropertyvalues,demantVsupp!y,aIldmarXetlngtlme -such as data on compatltfva properties lor sale In the nelghborhooo, dascrlptlon 01 the prevalenca 01 salus aIld f1nancl ng concessions, etc.): Current market is oenerallv stable with most properties oriced to sell within a 90-180 day marketino time. Conventional financina is most prevalent with FHA and VA beino used on a limited basis. Seller concessions are oenerallv not necessary: however, some sellers will use them to reduce marketino time. No sienificanl appreciation in values has been observed over the past Year. SUDDlv and demand appear to be oenerallv in balance. - ProjectlnlormaUon lor PUDs (II appUcablel - -Is the devaloper/bullder In control of the Home Owners' Association (HOAl? U Ves ~ No Approxlmat8tota1 rwmberofunlts In the subject project NfA Approximate total number oIunlls for sale In tile subject project N/A Oescflbe common elements and recreationallacllltles: NfA Olmenslons 250.4 feet ~ 32.2 feet Topography Generally level.slooed frontaae Sllearea 0.18 acres Comer Lot DVus I><J No SIle Tvpical to neiohborhood Speclftczonlngc\asslllcallonanddescrlptlon Residential 5 SI1ape Rectanaular zonog eompHance IZI Leo~ ~J 18g~ nonCOn!1":I:g (G__ use) 0 1II"l~ D No zoning Drainage Adeauate Hiah8st & best use as 1::::-........;. Presentusu Otherusef~a1nl VIew Urban Utilities Publlc OIher Ofl-sUelmprovements Type Public Prlvate landscaping Avera"e EIecfJfcify I><J SIreel Paved i><I Sidewalk Concrete IZI [] FEMA Specl~ Rood HazmI Area Dyes CXl No Sanltaiysewer ra StreetRghts None Q f~ FEMA Zone C Map Date 03/15n9 SIom1sewer All"" Paved FEMA M~n No 4203680001 A Comments (apparent adYefse easements, ellCroachm6nts, special assessments, slkle areas,lIIegal or legal nonconfonnlng zoning use, etc.): No adverse easements or encroachments were noted' however title documents were not anal=ed. The site utilitv and view are tvnical to the area. GENERALOESCRIPTION EXTIRIORDESCRlPTlDN FOUNDATION BASEMENT INSULATION No.ofUnlIs 1 foundation Stone Sob 0% AreaSq.Fl 1204 Roof _0 No.ofSlor1es 2 ExtelIorWa11s Sh;;;le CrawlSpace 0% %Anlshed 0% CalU,,_[] Type(DefJAfI.) Attached RoolSurface Shinnle BasemeRt 100% Ceiling Exnosed Wals_[] OesIgn{Styfe) Ouo!9L-- Gutters & Ownspts. Aluminum Sump Pump No Wals Exnosed RoOf _0 EldsllDll'ProPosed Existi~ WIndow Type Sin....le nane Dampness Avera....e Floor ConcretelOirl None_O Ago (Y..) 121 StomVScreens Screens/Storm Settl&ment Ave~e OutsldeEntryStairs U""",,,------ IZI Effec1lw"e"".' 30 ManulacturedHouse No Infestation None observed R factors unknown ROOMS LM Dlnl Klfchen Den Faml Rm. R Rm. Bedrooms 'BalI1s Laund Olher AreaSn.Fl - Basemen! 1204 l8veJl 1 1 2 1 1204 l8veJ2 4 2 1204 - Rnlshed area above "rade contaIns: 9 Rooms' 4 Bedroom's' 2 Bath'~\' 2 408 ~ uam Feet of Gross LMnn Area INTERIOR Ma1erIalsICondl1lon HEATING KITCHEN EQUIP. ArnC AMENmES CAR STORAGE: - FlolllS CarneUWoodNin"l Type Forcd air Ref~gerafor I';<J NOlO II Rrepface{s)'_ 0 NOlO IZI WaDs Panelin"IPlaster Fuel Oil Rango'Oven IZI StaI. i><I Patio No 0 Garage #olcars Trlnv'Flnlsh Wood Co.MWon Fair Ol~ [] OropSlalr [J Deck No 0 Altachad BalhFloor V~ COOUNG DIshwasher CX1 Scuttle [] Porch FronVRear IZI Oetachad Bath Wainscot Fib;;:lass ~ No Ferv1iood i><I FloOf I] Fence No 0 Bum-In 00IlIS Wood OIher No MIc,,::~, f"1 Heated H Pool No [] Cat)lO~ Condition N/A Washer r Anlshed r Ol!vew:nt 2 AddItionalleaturus (special energy efflclent Ilems, elC,): None. Cond/tIonollhelmprovemerrts, depretlation (physlcal,functlonal,and extemal),lllpalrsneeded,quaDtyolcollStructlon, remodeUnwaddJtlDllS,atc.: Sub'eetis in overall fair condition on the interior and exterior. There were several internallnadegu;]cies noted. Both bathrooms are in need 01 renovation. New electrical wirino and oullets are needed throuohout the entire house. Additionally. two new furnaces will reolace the existlne aeine units. - Adverseenvlronmantalcondltlons (such as, but not limited to, hazanIouswastes, toxic substances, etc.) prtJcntlnthelmprovemards,ontheslle,orln1he lmmedalll vicinity of the subject property.: No adverse environmental conditions were noled. Howeyer the ann raiser Is not nualified to detect such conditions. It is ;un~ested Ihatthe client retain an exnerl if so desired. Fonn UA2 - "TOTAl. 2000 for Windows' appl1/sal softwill1l by a la mode, Inc, -l-80lJ..AlAMODE UNIFORM RESIDENTIAL APPRAISAL REPORT FII,No. 203 ,.. $ 20.000_ Comments on Cost Approach (such as, source of cost estImam, slt&vaIl18, square loot caJculation and for HUD. VA and fmHA, the estimated remaining ecooomlc ute of the property): Marshall & Swift Residential Cost Har)dbook. updated Quarterly, and local contractors were used for the Reolacement Cost Approach. I ESTlMATEO SITE VAlUE ESTIMATED REPROOUCTION COST.NEW'()F IMPROVEMENTS: OwoWng 2,408 Sq. fl @I 36.00 - 1 Sq.fl@1 - : Garago'CaJ1>ort~Sq.Ft@1 Total EstlmatBd Cost New _ lBss PhysI<aJ Oepreclalon ~3441 DepreclatedValueoflmprovemunfs "As-Is"ValueofSlt8lmprovernents INDICA TED VALUE BY COST APPROACH rn:M SUBJECT 113.113.5 North Earl Street Address Shi~~ensbur~ PA 17257 =..~ SalesPric, ~f'Q~I""""AnIa Dataand/or VllffflcalIonSo_urce VALUE ADJUSTMENTS SalesorAnanclng ConeBSSlons IlatoDf_ localIon l.easehoWFeeSlmDle SlID View In....lnn and .a"",,~1 Inll~lItuofConstructlon I~ CoodIlIon AlJowGrade RoomCOlJlIt Gross LMnn Area Basement & floished - Rooms Below Glade FunctionalUU"" Heall-~oo''; - Ero-;;:;ElIlclOlt_ 1~'P~,Deck, 5 etc. Few Pool ",. functional 1 1 Site Inspection Public Records DESCRIPTION Urban Fee sim"le 0.18 acres Urban Dunlex Avera.....e 121 Fair JotaI:Bdnns: Baths 9 . 4 ' 2 2,40B Sa. fl Full basement Unfinished Avera"e Forced air/None None None Porch None None 86.688 = 1 ExlDmaI 86.688 43.34" 43.344 63.344 35 000 COMPARABLE NO. 2 42 Richard Avenue Shlooensburo, P~ 17257 Less than .5 mi. NE 1t~-'-"lI'ef,~1fI$. $ 33.081/1 MRIS Public, R~_cords _ OESCRlPTION Typical None 11/15/01 Urban Fee simole 0.06 acres $imilar Duolex Similar 73 Suoerior Total : Bdnns: Ba1!Jj~ 6 3 1,_ 1.300 O!l.fl: Full basement 9nfinished Similar Hot waterNJin uni : None None Porch None None '<!'t +{-}$Adlust COMPARABLE NO. 3 112 South Prince Street Shiooensburo. PA 17257 Less than .5 mi. SE 43 000 27.68 III -9.750 MRIS PubljcJ~!lcords DESCRIPTION Typical None 07/24/00 Urban Fee simnle 0.04 acres Similar Duolex Similar 102 SUDerior .lotaJ :Bdrms: Baths : 6 3 1 1391 So.fl: Full basement Unfinished Sjmilar Forced air/Fans None 1 car Porch None Fence 38 500 +( l$Adiusl -9,750 -2800 -1.000 +1000 NetAdl.total'l + - 4950iifi-:t 1115JM:'+ - Adjuslsd Sales Prtco at ComMrable 30 050 31 850 25 950 Comments on Sales Comparison (including thB subject property's compatlblUly to 1hB neighborhood, etc.): All comDarables are located Within a 5 mile radIUS of the subiect. The subiect is a full dunlex. The comnarables renresent one half of a full d-;:;;:;iex. The value of the comnarables after adjustments will be doubled to represent the total estimated value of the subject. since both sides of the duplex are similar In condition. After adjustments, the comoarables ranoed from $25,950 to $31.850. After beino doubled, the e'stimated value of the subject as of Januarv 18. 2002 is $58,500. See comment addenda for condition adiustment. =1 -I -S =' COMPARABLE NO.1 111 Garfield Street Shipoensburo. PA 17257 less than .5 mi. SE NIA ,/I, MRIS Public Records OESCRIPTION Typical None 12/11/01 Urban Fee simple 0.05 acres Similar Dunlex _Similar _IQiesl. ) Suoerior Total :Bdrms: Baths : 5 2 1 Ba4';:fl : Full basement Unfinished Similar Forced air/None None None Porch None None 39.59 [/.1 +(-}$Adjusl ~9.750 +4 800 ~1 400 12550 ITEM SUBJECT Date, Pr1c8 and Data Not sold in the SOurce, forpr\or &ales past year. Public _.....!l..m'~sa1 Records. AnalysIs of any culT8lltagreulTl8flt ofsals, option, or DsUng 01 subJ8Ctpropllrty and analysis of any pdorsales of subj eetandcomparabluswllhlnonllysaratth8dat8ofappralsal: The com....~rables have not resold within the nast "ear. The s~b~ect Is currenll" listed for sale. COMPNlABLENO.l Not previously sold in the past 1 year. Public Records. COMPARABLE NO. 2 ~ Not previously sold in the past 1 year. Public Records. COMPARABLE NO.3 Not previously sold in the pasl1 year. Public Records. INDICATED VALUE BY SALES COMPARISON APPROACH ., $ 58 500 INDICATED VALUE BY INCOME APPROAc;im-~~~lIcabJel Estlmated Markel Rent ""t. ~ .N/A IUO. x Gross Rent Muttlnller N/A = t " NIA ThI$ appnIsal" mad, c><r'.. I~ TI SlJbject.. tho "paI~, aI1Drations,lnspeclIons or condlllons Rsled below U subject.. complotion go. plans & sgocmcatklns. Conditlons of ~ Aporaisal is completed subiect to the foUowlna conditions and with the a"sumntion that the title is nood and marketable. FNI RecoACIllatlon: Most weiaht is placed on the Sales Comparison AOp'roach--, which usually reflects the thinkina and behavior of the tvpical purchaser. This Is supported. to a lesser dearee bv the Cost Approach. The Income Aporoach is not considered apolicable due 10 insufficient rental data. - Th8 purpose 01 this appraisal Is to llsUma18 th8 marKet valUll oflhll ruI property lhat Is the subJeet olthls report, based on lhe abovecondill onsandtnecertlflcatlon,conUngent and ImIlInu conditions, and mai1<al value dllDnlllon that are stated In the attached Freddie Mac Form 439IFNMA form 10048 {Revised 6/93 1. _ I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF January 18. 2002 (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 58,500 ~=ER' .,. < '>L?~)'!~.::) :...~.g~.:~~SORYAPPRAISER(ONLYIFREQUIRED): Name Joseph W. BrI<!iL ----:;z:z ~am.e !tate R~J!!!rt S1l1ned Januarv 23. 2002 Q!I,te R~ S!wed S1aIeC8I1IfIcation# GA-001599-L S~~ StatCG.!!rtlflcatlon# Or Slate Ucense # S1ate Or Stale Ucense # FreddlllMacForm70 6193 - PAGE20F2 Form UA2 - "TOTAl.. 2000 for WIndows' appraisal softNare by a la mode, Inc. - HlOO-Al..AMODE Do~ DO~NDf InsgoctProgorty StaiB StaiB Fannie Mae Form 1004 6-93 SUPPLEMENTAL ADDENDUM Ria No 203 !orrowerlGlIent Carol A. Carmack ProoertvAddlllss 113-113.5 North Earl Street CItu Shinnensburn Counlv Cumberland lender N/A Slate PA Z1nCode 17257 The (eal estate taxes fOf the subject property have been calculated based on the current assessed value. The calculation is presented below: Assessed value multiplied by the tolal millage of the Borough of Shippensburg equals real estate taxes. Assessed value = $75,430 Combined millage rale = .013438200 Real estate taxes = $1,013.64 The subject property is in only fair condition. While the property is still livable, substantial rehabilitation is needed to increase marketability. In the Sales Comparison Approach, substantial sdjustments were required for condition. The $9,750 adjustment represents one half of the total cost estimation provided by the subject representative and reviewed by the appraiser (due to the comparables representing one half of a full duplex). While the appraiser is not a qualified contractor, the estimates appear reasonable ror this analysis. The estimates are presented below. $4,500 $3,500 $7,000 $3,500 $1,000 $19,500 Update bath both sides Replace mdiators with baseboard heat New furnaces both sides New electrical wiring/ouUets throughout both sides Repair roof slant in rear Total Comparable Sale #3 was sold over a year ago; however, the market has remained stable and there has not been a significant change in values since then. Fonn SUP - "1'OTAl2000 for Windows' appralsal software by a Ja mode, lrx:. -1-800-Al..AMODE < Subject' Photo' Page tU(:j~iU~LV,lj j'd!J~ J!.J_'_, Borrower/Client Carol A_ Cannack --- Pmfll'.rtvAddress 113.113_5 North Earl Street -- ..__._~ ~pensburg Countv Cumberland Stale PA ZioCode 17257 lender NIA Subject Front 113-113.5 North Earl Street Sales Price N/A GLA 2,408 TolalRooms 9 TolalBedrms 4 TotalBathrms2 Location Urban View Urban sne 0.18 acres Quality Average Age 121 Subject Rear SubJect Interior Form PIC4x.6.SR - "TOTAL 2000 lor Windows" appraisal software bv a la mode, inc. -l.BOO.ALAMODE - Additional Subject Photographs Borrower/CUM! Carol A. Carmack ProMrtv Address 11J..113.5 North Earl Street Citv ShinnAnsburn Cou"'" Cumberland lender N/A State PA Form PIC4K6.SI- "TOTAL 2000 lOf Wiflllows" appraisal software by;:!a mode, inc. -1-aOO-ALAMOOE - 1IIIcJ:'!_ll,_~;J,!,J.Lrd-YJ;JU~.1 ZinCode 17257 Subject Street 113 North Earl Street Sale Price N/A GLA 2,408 TolalRooms 9 Bedrooms 4 Bathrooms 2 Location Urban View Urban Sile 0.18 acres Qualrty Average AlJe 121 Subject Street Comparable Photo P;J.ge BorrowerIclienl Carol A. Carmack ~ Pr~Address 113-113.5 North Earl Street ---- --...- _.~~-~- c;;;- Sh~nsb~ Co~n!Y Cumberland StJJIl.__~~____. lioCode 17257 Lender NIA Comparable 1 111 Garfield Street Proximity less than .5 mi. SE Sale Price 35,000 GlA 884 TolalRooms 5 TolalBedrms 2 TolalBalhrms 1 Location Urban View Similar Site 0.05 acres Quality Similar Age 70 (est) Comparable 2 42 Richard Avenue Proximity Less than .5 mi NE Sale Price 43,000 GLA 1,300 TolalRooms 6 TolalBedrrns 3 TolalBalhrms1 Location Urban View Similar S~e 0.06 acres Quality Similar Aae 73 Comparable 3 112 South Prince Street Proximity less than 5 mi. SE Sale Price 38,500 GLA 1,391 TolalRooms 6 TolalBedrms 3 Total Bathlms 1 location Urban View Similar S~e 0.04 acres Quality Similar Age 102 Form PIC4x6.CR - "TOTAL 2000 for Windows" appraisal software tly il h mode, inc. - 1-800-ALAMODE - Comparable Sales Map -<,.:~J:;'9- \ \ ',\, )" (\, ,.! <(- \ , J Q 00'1 ~$ " ( , 'O~/ (j;~/ ~..:}/ / '~ \, '\'" '; / I <'.V/ fv) 'Y"'.'9 / ~V IQ\.~ I ~,<I" / //~./ / \j" I . ;' 1 / ,lJ ,\ \/ / ~ / \ /' ,,' ' u I 6;f /'1 / / .1';)0;: \ i~, ""':-'\ '?-"" .^f~ ~<1. / ~~ ,/ ),( ~ /'/y ,,/ , ~X; rV 1'" ~ y'~~ ,'l>1~ 112....._:.... / "'^ '\Jl Sh . PA 1n57 ;p47 '~ ''i1, ,,~/f ~I ~ q", " \//"/,/ / ~ / / / / " ", "'. // / / / / ~/ ~ p"$ oj //' ,sJ1./ ;l.M~"~'X(f, )'i'>~ nSpring 0$>"\/ \o\~ Y Streets98 0,," 200 "Xl "'" "'" CQpVIIght 0 19l'lB-19111, MIcroaoft CorporIIIlCWIa1dIor Ita .uppll... AIII'lgIn. rnar..d. P....vl.~ our....eb .i19 -' hItp:JImIlPl,expedilI.oom Po," . MULTI-PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS 80rr0werlClient Carol A. Carmack. '~PmiiertVAddress 113-113.5NorthEarlStre~.! J2i!Y. ~l1ensburQ County Cumberland .. .. State PA ZipCode 17257 lender N/A Apex Valuation SelVlces (717) 530-.8701 TI1Is Mulll-Purpose Supplemental Addendum for Federally Relal8d Transactions was deslijlled to provide the appraiser with a convenient way to comply wllh the current appraisal standards and requirements of the Federal OeposK Insurance CCJlporalhn (FDIC), the OffIcB of the Comptroller of Currency (OCe), The OffIce of lMft Supen1s1on (OT5), the Rasokltlon Trust Corporation (RTC), andll1e Fflderal ResCiI'B. This Multi-Purpose Supplemental Addfllldum Is for use with any appraisal. Only those statemenls which havo been checkod by tho appraiser apply to the property being appralsBd. ; I><J PURPOSE & FUNCTION OF APPRAISAL TheptllJlOS8oftheappralsalrstoestlmatethemarketvalueofthesubJectpro~artyasdefinedhernln. ThefuncUonoftheappralsallstoasslsttl1eabove-named LeoderlnavaluallngthllsubjectpropertyforlendlngpurpoS8S. ThIslsaFedelill~l'Illaledtransacllon. I><J EXTENT OF APPRAISAL PROCESS I><J Thll appraisal Is based on tha InfonnaUon gathsrBd bytheappralserfron; publiC records, otharldenUlled soorces, Inspection of the subject property and nelghbortlood, and selecUon of comparable sales within the subject mal'.,~l area. The ol1glnal Sourte of the compmbles Is shown In the Data Source section ofthemarkelgr1d along with the source ofconfinnaUon, lfavallabl8. TI,J ol1glnal sourte Is presented nrst The sources and data are considered relIabla, When cOnfllcllng Information was prnvldlld, the source deemed most rei: 1bla lias been used. Data bellaveG to be unreliable was oot Includlld In the report nor usedasabaslsfOfthevaJueconcluslon, I><J The Reproduction Cost Is based on Marsh<.1H and Swift Residc!l.~ial Cost Handbook supplemented by the appraiser's knowIBdge of lhe IGcaI mark8t. I><J PIr)'sIcaI depreclation Is based on ttJe estimated effective age of the subj'Jct prnperty. Functional anlVOflOOBma1depreclaUon, If present, Is spec/flcally addressed InttJe appraisal report or oIher addenda, InesUmatlngthesll~value,theappralserhasrell8donpersonalknowledgeofthelocaJmarkel This knowIlldge Is based on plIor if\lVO(currenf. analysis of s/te sales and/or at>slractlon ofs/tevaluesfrom sales of Improved properlles . I><J The subject properly Is located In an area of plImai11y oWl'lllr-occupled slli]le family residences and the Income Approach Is not consldered to be meaningful. Forlhls reason, the Income Approach was not used. 0 The EstImated Mar1wt Rent and Gross Rent Multiplier utIl1zsd In the lncoll\c Approach are basoo Oil the appraiser's knowledge of the subject ma/1(et area. The mrtal knowledge Is based on pl10r and/or current rental rile surveys of resldenUaI propertles. The Gross Rent Mulllplierls based on pl10r and/or current analysis of prk:es alld market rates lorresldenUaI prnpertles. 0 foflncomeproduclng propertles, actual renls,vacancJes and expenses have been reported and analyzed. Theyhavebeenu sed to projectluture rents, vacancies and expenses. I><J SUBJECT PROPERTY OFFERING INFORMATION According to Melrooolitan Reaionallnformalion Services lhesubjectproperty: ~ has 001 been offered for sale In the past 30 days. [-I Is..cwmnIIx.lll!ol1ld for sale forI 1::]_forsal,wIIliInU.past30llaysforl nOfferlnglnformaUolly/ascanslderedlntheflnalraconclllatlonofvalue. OOffer1nglnfonnallon~mdlnthellnalraconclllaUonofvalue. " o Offertng Informallon was not available. The reasoos for unavailability 8lld the steps talr.en by the appraiser are explained later In this addendum. I><J SALES HISTORY OF SUBJECT PROPERTY -~lIlJfO Public Records lhe SlJbjecf property; I><J !lauIlll.llamfo In U. past tweIv8 m_. D hastransf8JTBdlnthepastlwelvemonths. D ABpIiorsalesw!*:h IIaYll occurred In the past twelve montl1s are Usted below alld reconciled to the appraised value, e Ither In the body 01 the report Dr lntheaddanda. Date Salea Price Document # Seller Buyer I><J FEMA fLOOO HAZARD OATA I><J Subjeclpropertylsootlor.atedlnaFEMASpeclalF\oodHazardArea. 0 Subjecf property IsJocalellln a FEMA Specl~ Rood Hazard Area. I Zone FEMA Map/Panel # Map Date Hame 01 Community Ie 4203680001 A 03/15/79 Borouahof Shinnensburn o The commUlllty does..not..PadIcIIlat8ln the National Aood Insul1llC8 Program. C8.J The communlly lWauartlClPalfl In the National Acod Insurance Program. iJ ft Is cowred by a mgWac p~. [J It Is covered by an emeJVllDCY prograffi. I Page 1 012 Farm MPA - "TOTAL 2000 lor WIndows. appraisal software by a la mode, Inc. -1-8oo-ALAMODE - C><1 CURRENT SALES CONTRACT ~Thesubjectpropertylscwmntly1lOfundercDntract [] ThecontractancVDr8SCrowlnstructionswe~w. Tho unavailability 01 lhlI contract Is explained later In the addenda section. [] The contract and/or escrow InslruClions were reviewed, The lollowInQ summartzes the contract ICORlract Date Amendment Dal8 Contract Price Seller I I Edwin A. and Gladvs M. Harsha" I i:J Theconlr.lctlndlcalBdlhalpersooaJpropeJlywasJllllJnclUJledlnllio.... 1.1 Theconlr.lctI_IhaI_naJpropeJly_.ft_of [:)<) Personal property m..nol.lncIuded In the final value estimate. Estimated contrlbutOlYvaJuo Is$ n Personal property walincJuded in tIlB final value estlmate. [] Thecontractlndlcal8d[)lI..fIoancIng.Cilnce~s{onsorothorlncenUves. [J Thecontractlndlcated~sskmsorlncentlves; I] If concBSSions or Incentives exist, the comparables were chucked lor similar concessions and appropllata adjustments were made. If applicable, so thatlhll final value conclusion Is in compliance with \fle Mar1catValuo definadhereln. N MARKET OVERVIEW lnclude.n uplanatJon of current matketcondlllon..ndlrenda. Three to six months Is considered a reasonable marketing pellod for the subject property based on MetroRohtan ReQionallnformation Services - N ADDITIONAL CERTIFICATION The Appralsercerll1les alld agrees ItIat (1) The analyses, opinions and conclusions were developed, and this report was prepared,ln conformity with the Uniform Standards of Professional Ap]lliisal PIOClIce ('USPAI"), .,:e~ lhall!le Ilepartum Pro..." of~. USPAP do" not app~. (2) Their compensation Is not conUngent upon the reporUng of predetel1Tllned value or dlrectlon In vaIu8 that favors the cause of the client, the amount ol1hB value esUmale,the altainment of a slIpulaled result, Dr the occurrence of a subsequent event. (3) Thls apjlf'alsal assIgMlentwas not based on a requested minimum valuation, a speclflc valuation, or the approval of a loan. C><1 ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS Thevalua BslImatad Is based on the assumption lhat1hB property Is not negallveJy aflected by the exlstence of hazardous substances or d8l1lmentaJ envlrornnentaJ condlllons unless otherwise staled Inthls report. The appraiser Is nol an expert In the Identincatlon of hazardous substances Dfdeb1mental env\ronmentaJcondltiOIlS. The appsalse(s routine InspecUon of and Inqulr\es about the subJect property did not devalop any Infonnatlon lhatlndlcatacl anyappamntslgn/llcantl1azardoussubslancesordelr1mentaJenvlrorvnentaJcondlllonswhlchwouldaffectlhepropertynsgaUvetyunlessothelwlsestated In lhIs report. It Is possible that tests and Inspections made by a qualified hazardous substance and 8nvIlllMlentaJ expert would mveaI the existence 01 hazardous substances or detr1mentaJ environmental condlllons on or around the property lhatwould negallvety affectlls value. IJ ADDITIONAL COMMENTS N APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION ,~ / .J'- .>? App<>sa(s~gna!unl ( cy{(. /:.,L-"--''''r -- Effeclh"~ Dale Januarv 18, 200~ Dale Prepared Januarv 28. 2002 Appr.lise(s Name (prlnt) JO="'h W. Elhaii~~ --- Poone# F'17 I 530.8701 State PA DUcense C8J Cerll1lcaUon# GA-OOY:'9@.l TaxID# 191.50.3507 11 CO-SIGNING APPRAISER'S CERTIFICATION 0 The co-signing appraiser baUlersonallyjospectad the subject propeny, bcll1lnslde and out, and has made an exlerlor InspecUon of all comparable sales IIsled In the report. l11e report was prepared by the appraiser under direct wpelVlslon of the co.s1gnlng appraiser. l11eco.s1gnlngappralseraccepts responsibility for the contents of the report Including lhe value conclusions and the Iimlllngcondlllons ,and connrms that lhe cerUncaUons apply fullytotheco-s1gnlngappralser. n Tllllro-sIgnIngappralser~thalnterloroflhasut;icctpropertyand: I] bai.nlIlJnsP!llftmlthe IIJItertor of the subject propeny and all comparable saics 8sted In the report [J __lIio 8I<l<lrloroflhe Olbjectproperty and all comparabo sales I:,."d In I!Ie mpo~ [J The report was prepared by the apJHaIser undllf direct supervision of tne co.slgnlng appraiser. The ccrslgnlng appraiser accepts responsibility for the contentsoflha report,lncludlngthevalueconcluslonsandtheDmlllngcondi~on5, and confll1TlS that the certfllcaUons apply fully to the co-signing appraiser with the excepllon of the certfllcaUon regarding physlcallnspectJoiis. TheabovadescrlbestheleveJoflnspecUonperfOfll1ed by the co-s1gn1ngappralsar. LJ The co-signing appraiser's level of InspecUoo, Involvement In the appraisal ;,-oces5 arxl cerUllcaUon are covered elsewhere In the addenda section oflhlsapp<aJsal. n CO-SIGNING APPRAISER'S SIGNATURE & LICeNSE/CERTIFICATION ~ Effectf\'aDate Date Prepare<l sSlgnature eo.sIgnlngAppr.liser'SNam,(p~nt) Pl1one# ( I SIaIe DUcense DC,rIItlcaIJon# Tax 10 # Pa~'l 2 012 Fonn MPA- "TOTAl 2000 for WIndows' appt ,':31 software by a Ja mode, Inc. -1.BO(l.-ALAMODE DEFINITION OF MARKET VALUE: The most probable price whIch a property shoold bring in a competitive and open market under all cOfldlllons requlslte to a fair sale, the buyer and sell6r, each acting prudently, knowledgeably and assumlngtlie price Is notaffetted by undue stimulus. Implicit In this delIn/tIon Istha consummaoon of a sale as 01 aspecllled d3te and the passlngoftitlefrom seller to buyerunderc olldiUonswhereby:(1)blJyeralldsalleram \ypicaJIy motivated; (2) both parties am welllnlonned or weD advised, and eaell acting In what he considers )jis awn best IlI1erest; (3) a reasonable Orne Is allowed lor uposure In the open market; (4) payment Is made In terms of cash In U.S. dollars or In terms of f1llanci?: arrangements comparable thereto; and (5) the price represents the normal consldelillon forthe property sold unaffected by special orereaow financing or salo~ cOllcesslons* granted by anyone associated with thesaJe. * Adjustments to IhB comparables must be made lor speclal or creatlve financing or sales concessl',:lS. No adjustments are necessary lor those costs wIlIch are nonnally paid by sellers as a resuft oll1adlUon or law In a market area; t!cse costs are rea dllyklentillable s1ncethesellerpayslheseCOS1Slnvlrtuallyallsalestransactlons. Special or creative f1nanctng a('lstments can be made to the comparable properly by compaJ1sons to financing terms offered by a third party lllstftutIol'l8llelldc; ;hat Is nol already Involved In the propertyorb1nsactlon. ArryadjustmeIltshouldnotbecalculatedonamechanJcaldollarlordol~i ~osloltheflnanclngoreoncesslon but the dollar amoum 01 any adfustmentshouJd approximate the markel's reaction to the financIng ',Jrc oncessionsbaseclonthe appraiser's jUdgement. STATEMENT OF LIMITING CONDITIONS AND A 'PRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's cerUflcaUon that appears In the appraisal repol1 Is subjettto the lollowlng codons: 1, The appralserYt1ll not be responsible lor mattors of a legal nature that affect eltherthe property belng appraised or the title to It Theappralserassumeslhat thetllle Is good and markelable and,thenlfOlTl,wllI nolrelJderanyoplnlonsaboutlhelllle. 1he proper1y Is appraised on the basis olll belng under responsible OWI"Illrshlp. 2. 1he appraiser has provided a skelch In the appraisal repol1to stIow approldmate dimensions 01 lhe Improvements and the sketch Is Included only to assist the reader of the repol1ln visualizing the proper1y and undarstandlng Ihe apptalsefsdetennlnation of Its size. 3. The appl1lser has examined the available IIood maps II\al are provided by the Federal Emergency Management Agency (or other data sourtes) and lias noted lnthe appraisal repol1whelherlhe subject slle Is located In an Idenlllled Special Aood Hazard Area. Because the appraiser Is nota surveyor, he or she makes no guarantees, express orlmplled,regardingthls determlnallon, 4, The appralser will not give testimony or appear In coul1 because he or she made an appraisal 01 the propMy in question, unless specific arrangements to do so have been made beforehand. 5. T11e appralsernas esllmated the value of the land In Ihe cost approach at Its IIIghesl and best use and the Improvements at the Ircontrlbutoryvalue.1hese separate valua1ions 01 the land and Improvements must nol be used In conjuncUon wiIh any other appraisal and are InvaJid ntheyares o used, 6. The appraiser has notBd In the appra1sal repol1 any adverse condlDons (such as, needed repalrs, depreclaUon, the pre sence of hazartlous wastes, loxIc substances, etc,) obsetYed during IhB Inspection of the subject property or that he or she became aware of during the normal research Involved in performing theappralsaL Unl8ss otherwise stated In the appraisal repon, the appraiser has no knowledge of any hidden or unapparent condiUons 01 IIle property or adverse BfIYlronmental coodlllons Qncludlng the presence of hazardous wastes, toJdc substances, etc.) that would make the property more or less valuable, and has assumed that there artIno such conditions and makes no guarant8eS or warranties, express or Implied, regarding the condlDon 01 the property. The appraiser wll not be responsible for any such condlUons that do exlst or lor any englneerlAg ortesting that might ~ requlnld to discover whether such condlUonsexlst Because the appraiser Is not an expel1 In theflekl 01 environmental nazarns, the apj:IfaIsaI repol1 must nolbe considered as an emironm01lalIlSS8SSl1lO1t of the propelly. 7. Theappralserobtalnedlhelnformallon, estImales, and opinions that were expressed In the appraisal reportlrom sources that he 0 r she considers to be relable and believes them to be true and correct The appraiser does not assume responslblllly lor the accuracy 01 such Items that were furnished by ottIer pasties. B. The appralserwll not disclose the contents 01 the appraisal reporl except as provided lor In the Un/lorm Standards 01 ProfessloRal Appraisal PractlCij. 9, TheappralserhasbasedhlsorherappraJsalrepol1andvaluaUonconcklslonforanappralsalthatlssubjecttosaUsfactOl)'compleUoo,repalrs,or alterations on the assumption that compleUon of the Improvements wlU be perfonned In a workmanUke manner. 10. The appraiser must prov\de his or her prior Wf1llen cOllSent before Ihe IelIder/cJIentspeclf\ed In the appraisal reporlcan distribute the appraisal 111 port QnckMllngconcJuslonsaboulthepropertyvalue,theappralse(s Identity and prolesslonaldeslgnatlons, and references to anyprolesslonal appraisal organilatIons or the firm wIlh whlchlhe appra!serls associated) to anyone other than the borrower; the mortoagee orlts successors and assigns; themol1 gage Insurer, consullanls; proIessIonaJ appraisal otganlzatIons; any stale orfederally approved financial lnslllulIon; or any department. agency, orlnstrumenlallty 01 the United States or wry &tate or the D1sll1cl: 01 Columbia: except that the lender/client may dlstrlbute the property-description section of the repol1 only to data colectlonorreporUngsen1ce(s) wtthoulhaYlngto obtain the appraiser's prlorwrlllen consent. The appraiser's wr1tten consem and approval muslalso beoblalned before the appralsaI can becofMl}'ed byanyooetothe publlcthrotlghadYerUslng, public reJaUons,flBWS, sales, or other m edla Freddie Mac Form 439 6-93 Paget 012 Fannie Mae Form 1004B6-93 ApexValuaUonServlces (117) SJO..B701 Form ACR - "TOTAL 2000 for WIndows" appraisal sollwaru by a fa mode, Inc. -1.800.ALAMOOE APPRAISER'S CERTIFICATION: The Appmsercertifies and agree, 1hat 1. I nave researched the subject marKet area and I\ave S8lllcted a minimum ol1l1re8 recant sales of propertles most similar and proxImalB to the subject property for consldantlon in the sales compa~son analysis and have made a dollar adjustment when appropr1at8 to f~!10ct the mlU1l8l: reaction to thosallBms of significant varlaIIon. 11 a sIon/fICantllem In a comparable property Is supenorlo. or more favorab18 than, the subject P:''jJcrty, I haw made a negative adjustmelltto reduce theadjustedsal8spr1ceofth8comparableand,Wasl~lIemlnacomparablepropertylslnfer1orto,DrlessfavorablethantfJesubjectproperty,1 have made a positlw adjustment to Increase the adjusted sales price of the comparable. 2. 1 have taken Into consideration the factors that have an Impact on vaIulIln my development of the estlmabl of market value In the appraisal report. J haw not knowingly withheld IIT)I s1gnlllcal1t InformaUon from the appraisal report and I believe, to the best 01 rrrj knowledge, that all statements and InformaUon In the appraisal repon aratrue and corrucl 3. I stated In the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the conlingem and Imitlng coOOltlons speclfied In this form. 4. I have no present or prospective Interest In the property Ihat ls the subject to this report, and I have RO present or prospectlve personal Interest or bias with respect to the paI1IclpanlS In the transaction. I did not base, either partially Of completely, my analysis and/or the estimate of mmt value In the appraisal report on the race, coJor,rellglon, sex. handicap, famlllalstatus, or national orlgln of eltherthe prospectlve owners or occupants 01 the subject property or of the present owners or occupants 01 Ihe properties In the vlclnlty 01 the subject property. 5. I have no present or contemplated fu11Jre Interest In the subject property, and nelther my current or fu11Jre employment nor my compensation for per10lmlng this appralsal 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, tho amount of the value estimate, the attainment of a specll\c result, or the OCCUrr8l1Ce of a subsequent event In order to receive my compensation anll/or employment lor per10rmlng the appraisal. I did nol base the appraisal report on a requested minimum valuation, aspeclllc valuation, orlhll need to approve a specific mo rtgageloan. 7. 1 performed this appralsalln confonnlty with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standanls BoardofTheAppralsal FoundatIonanllthatweru In place as of the ellectlvedateolthlsappralsal,wlththoexceptionofthedepartureprovtsion 01 those Standanls, which does not apply. 1 acknowledge that an estimate of a reasonabl8 time lor exposure In the open marKet Is a condlllon In the deflRlllon of marKet value and the eslImate 1 developed Is conslstant with tho maJt.etlngUme noted In the nelghbortlood section 01 thIs report, unless 1 haveothelWlse stated In the reconclHatIonsecllon. 8. I have personally 1nspect8d the Interior and exterior areas 01 the subject property and the exterlorof all properties Usted as comparable slntheappralsalreport 11urther c8l1lfy IhaII have noted any apparent or known adverse conditions In tho subject Improvements, on the subject site, or on any slte within the Immediate v\cInIty of the subject property of which I am aware and have macle adjustments lor these adverse condltJons In my analysis of the prope rty value to the extent that I had rnarXet evidence 10 support them. I have also commented about the etfect 01 thlI adverse conditions ontl1e marX6tablllly 01 the subject property. 9. I personally prepared aD conclusions and opinions about the real estate that wtIre set forth In the appralsal report If I reUed on s1glllllcantprolesslonal assistance from any Individual or ll'lllivlduals 1n1he perfonnance 01 the appraisal ortha preparation of the appralsal report, I have named s uchlndlvlduaJ(s)and disclosed the speclf\c tasks performed by them In the reconclllaUon section of this appraisal report 1 certify that any Individual so named Is qualified to perform the tasks. I have notauthorlzed anyone 10 make a change to any Item In the report; therefore, nan unautl10rlzed chang e Is made to the appralsal report, I w1U lake no rasponslbiJltylor IL SUPERVISORY APPRAISER'S CERTIFICATION: If a supervlsol}' appralserslgll8d the appraisal report, he orshe certllles and agrees that I directly supervise the apptalser' who prepared the appraisal report, have revlew9d thlI appralsal report, agree with the statements and conclusions of the appralser, agree 10 be bound by the appralse(scertlllcatlons IIUmbered 4 through 7 above,and am taldng fuU responslbllllyfOfthe appraisal andlhe ap pralsaIreport. ADDRESS OF PROPERTY APPRAISED: 113 North Earl Street. Shiooensburo. PA 17257 APPRAISER: Slgnaluo: ,-:::r -yi'-W /Y-,;? Name: Joseoh W;Elhaii ~.- ;7 Date SIgned: January 28. 2002 State CertIfIcation #: GA-001599-L orStal8lia1nse#: Stale: PA ExpiratIon Date of CertI1IcatIon or Ucense: 06f30/03 SUPERVISORY APPRAISER (only II requIred): Signature: Name: Date Signed: StateCertlllcatlon#: orStatellcense#: Stale: ExplrattonDateofCertiflcationorUcense: LJ Old [] Old Nat Inspect Property freddie Mac fonn 439 6-93 Page2of2 FannleMaeFonn1004B6-93 Rum ACR - "TOTAL 2000 for Windows' appraisal software by a la mode, Inc. -1-800-ALAMOOE -- ,.,...._...".."'1 "'-",u_"',u" tu"',,_...., ......-"",uu.u ..."'u. Iief>nrH.Il.........lndlolna.P.. ~bi~ J)eeb, MADE THE 2nd of our Lord OM thousand nine hundred in tM vea.r day of September eighty-three (1983) , BETWEEN W. DEAN HUTCHISON and MARVEL M. HUTCHISON. his wife, 01" 318 Wost Commerce Street, Smyrna, Delaware, 19977, Gran'ors, and EDWIN A. HERSHEY and GLADYS M. lIER31lEY, his wife, of 112 North Earl Stroet. ShippcooburC, Cumberland County, Pennsylvania, Grantee 5: WITNESSETH, Uta' in oo1l8ideralwn 01 ---------Two Tl10usand Five Hundred----- ------------------------------($2,500.00)-------------________~Ua", i:n hand paid, the receipt whereof'" herebJ/ ucknowledged, tA6 8aid grantors do h6rebJ/ gm,u and conV6V W the 8aid gmnlees, their heirs and assiens an tenants by the entirety ALL that certain tract of land situate in the Borough of Shippensburg, Cumberland County. Pennsylvania, more particularly bounded and des- cribed according to a survey prepared by John R. Kissinger, R. S., dated July 6, 1983, as 1"ollows, to wit: BEGINNING at a point along the western right-of-way line of North Earl Street at the corner of the lands herein conveyed and lands or the Grantees herein; thence along said right-or-way line South 200 15' 00" East 31.93'fcet to an iron pin; thence along Tract No.2 on the hereinafter mentioned plan South 690 L15' DOn West l16'.37'ifeet to an iron pin; thence, in part along a 14 foot right-of-way North 200 15' 00" West 31.93 feet to an iron pin; thence along Lot No.1 on the hereinafter mentioned plan North 690 45' OOn East 116.37/ feet to a point, the place of DEGINNING. BEING Lot No. lA on the Final Plan of Lots prepared for W. Dean Hutchison, and being recorded in Plan Book Pace CONTAINING 3716 square feet. EXCEPTING AND RESERVING unto the Grantors, their heirs and assigns, the full, free liberty and right at all times hereafter forever, a perpetual and exclunive driveway and parking easement for the sole benefit of the Grantors, their heirs and assigns, contained within, and along the rear line of the within described premises. as follows, to wit: BEGINNING at a point in the corner of the lands conveyed and lands of the Grantees herein, North 690 45' East 39 feet, more or less, to a point; thence South 200 15' East 31.93 feet, more or loss. to a point; thence South 690 45' West 39 feet. marc 91' less. to an iron pin; thence North 200 15' West 31.93 feet. more or less, to an iron pin. the place of BEGINNING. The creation of the aforementioned easement and right-of-way for the sole and exclusive benefit of the Grantors shall not be deemed to constitute an agreement to improve, alter, repair and maintain said right-of-way nor constitute a charge or lien for the coats thereof .,i(U/'" 5 to,.l,^/ ~ "Sr.hool'6ISt Cumll Co.. P:L &0 30 f^C[ 281 1'ji. "le;!l lsldl.6 Transl8l'Tax DOit17-r~ AnJf:t~-..J!.2 A(;""",'-., /I"{/p-~-; Cumbo Co. Ol$l CoI. ~,<!3"~"" I ...., against said party or the adjoining lands owned by them, except that the Grantors, their heirs and assigns, may elect to hereafter disturb the surface condition of all or any part of Quid easement or right-or-way for the purpose of improving, repairing, maintaining, pavin~ or altering the same, and all costa therefor Ghall, 1n that event, be borne by the Grantors, their heirs and assigns. The Grantees, their successors, assigns, employees, agents, and Invitec5, shall at no time cause, or permit to be built, attached to, or placed upon such easement areas described herein any things, objects, structures, building or other impediment to the free and unfettered use of said casements for vehicular and pedectrian ingress and egress and, in partiCUlar, without limiting the foregoing, shall not permit to be parked at any time any vehicles of any kind whatsoever nor construct nor permit to be constructed or maintained any barriers or any other temporary or permanent impediment for the free and unfettered use of said easements. The rights and privileges herein created shall extend not only to the Grantors and to. the record owner of the adjoining lands now owned by the Grantors, but also in favor of their successors in interest, heirs and assigns, and mortgagees, any tenants to whom they may grant rights and privileges under these easements, business invitees, employees, agents, and any other persons or entities to whom they may grant rights and privileges under these easements and ri~hts of way and any other persons or entities to whom any of the foregoing may grant rights and privile~es under these easements and rights of way. Such rights and privileges may be granted either in writing or by tacit consent. BEING part of the premises which G. Leonard Jo'ogelsone;er, Widower. by his Deed dated October 1, 1979. and recorded in Deed Book URn. Volume 28, Page 1139, r;ranted and conveyed unto W. Dean Hutchison and Marvel M. Hutchison. hin wife. Grantors herein. COMMONWEAlTlI (J~ 1>~N!J~,','I\':NJI;\::::: ~,~~:T~'NT o~ ~':;;:'.lI'E'.'- ....~~: 1~^NSflR UPIJ"13 ~ :. L.J. {) 0 :::.: lAX ,. _ ~. l~O.III~~ n. .__ ::; \ '( f:tCOIWCD_OFF/C. ntconVtr. OF Df. OF TH~ CU~[JtnLMJD COUNET~_S 'B"l PAt , SfP 13 AN 9 36 ~"A_ .\. -l...~JJ\..:'~'<\" Kr-. \.'';.''\'' 8oolj30 rACE 262 , .~ l :E Z ... "'- ~"'" .:,.,icn 0 ~ < i= '" 2: ""- ......... C> "",en " ~ :E= CI_ a: ... ..... == t- ~ ..... z = ... !!! u < CI >- on ~ "" a::: 00 ... -' CO ;:::- ... . "" .... ...... e.:>::c; '" "" ..... Cl <: ",,_ z z.., "'e.:> 0 => ~ ~ -z'" ""'= :::"'" " '" :z: :::> Z<z "'" ":-.... w !: ..... ... "'" u """ = <:",,~ >- .... :E z C> a::: -' !:: " C> = ... OO:>Z"" a: C> ... Z ~ en =Z ...::t< z = ::> ~ ~ == ~ 1>'<...:5 "'" :E '" ~ "" l:l.o 00 e>:... ..... :E ~ ... "" Q l:l.o :z: "" :.:: C> C> = Z"'Z e.:> ;::: e>: - == < ... ==~Qe>: "" '" 00 l:l.o "" ... \III ~RLAND /FRANKLIN COUNTY, PENNSYLVANIA Joseph W. Elhajj Appraisal Qualificaticas Current position President Apex Valuation Services Previous Position Weinstein Realty Advisors, Certified General Real Estate Appraiser Weinstein Realty Advisors, Pennsylvania Licensed Real Estate Sales Agent Weinstein Realty Advisors, Real Estate Tax Consultant Real Estate Certificate and Licenses Pennsylvania State Certified General Real Estate Appraiser #GA-OOI599-L Pennsylvania Licensed Real Estate Sales Agent #RS-194417L Work Experience 1998- Present President Apex Valuation Services 1994-1998 Certified General Real Estate Appraiser, Weinstein Realty Advisors 1992 - Present Owner I Property Manager, Lincoln Investments; Shippcnsburg, Pennsylvania Owner I Property Manager, BJ Realty; Shippensburg, Pennsylvania General Education 1988-1990 Pennsylvania State University; Business Administration Real Estate Education Commercial Investment Real Estate Institute Financial Analysis for Commercial Investmenl Real Estate, Course CI 101 - Las Vegas, NV, 2000 Appraisal Institute Appraisal Principals, Course # II 0 - Pittsburgh Pennsylvania, 1995 Appraisal Procedures, Course #120- Pittsburgh, Pennsylvania, 1995 Basic Income Capitalization, Course #310- Boulder Colorado, 1997 Advanced Income Capitalization, Course #510- Boulder Colorado, 1997 Affordable Housing Valuation - Atlanta Georgia, \997 Section 8/Hud: Rent Comparability Studies- Washington, DC, 2001 Pennsylvania Realtors Institute Appraisal Standards and Ethics, Course #RA5, 1994 Current Appraisal Topics, Course #RA8, 1994 Penn State University REST 5200 Contemporary Legal Issues Affecting Real Estate Transactions, Course #00 198M, Chambersburg, Pennsylvania Institute of Real Estate Studies Pennsylvania Real Estate Salesperson Licensing Requirements, 1991 The Real Estate School of York County New Horne Construction, Course III, 1996 Property Investment, 1998 "Lets Get It Right", 1998 Maryland Association of Appraisers FHA Review Guidelines, 1998 Education Division of Don Paul Shear Tax Assessment Law and Tax Appeals, 1999 Income Capitalization and Partial Interest, 1999 Published Articles "Better Measurement of Apartment Vacancy and Collection Loss" The Appraisal Journal, January, 1998 "Assessment of Low Income Housing Tax Credit Projects" Tlte Advisor, A publication of Weinstein Realty Advisors; Volume I, Issue 2, July 1997 Expert Court Testimony Board of Assessment Appeals - York County Board of Assessment Appeals - Adams County Board of Assessment Appeals - Dauphin County Board of Assessment Appeals - Franklin County Board of Assessment Appeals - Lancaster County Board of Assessment Appeals - Cumberland County Franklin County Court of Common Pleas Fulton County Court of Common Pleas Real Estate Investment Activity Owner: Lincoln Investments Various Multi-family Residential Dwellings Owner/Partner: BJ Realty Various Multi-family Residential Dwellings Commercial/Office Properties , , Types of Properties Appraised Apartment Complexes Joseph W. Elhajj has personally appraised over 10,000 apartment units in approximately 100 complexes which ranged in size from 40 to 800 units. Primary geographic focused arcas for apartment appraisals have been Dauphin County, Franklin County, Adams County, Lancaster County, Cumberland County, Lawrence County, Mifflin County, Fayette County, and Green County Pennsylvania. Additionally, apartment appraisals have been preformed in Delaware, New Jersey, and Maryland. Apartment appraisals have been completed for v.arious clients including but not limited to local lenders, regional lenders, property owners, Pennsylvania Department of Housing and Urban Development, and subcontract work from other appraisal firms. Various other smaller apartment complexes have also been completed for various locallcndcrs. Smaller apartment communities varied in size from four to forty units. Commercial Facilities Commercial appraisals previously appraised include strip shopping centers, regional malls, self- storage units, fast food restaurants, retail stores, gas stations, and convenience stores. The geographic area of focus for commercial appraisals has been primarily south-central Pennsylvania; however, various commercial work has been preformed in Maryland and Connecticut. Offlce buildings Office appraisals have been prefonned all across central Pennsylvania and include facilities ranging in size from 2,800 square feet to 250,000 square feet. Both owner-occupied and investor-owned office facilities have been analyzed. The investor-owned facilities have been both single-tenant and multi-tenant and have ranged from large nationally ranked tenants to small local professional finns. Industrial Facilities Industrial appraisals have been preformed for both new construction and existing facilities all across central Pennsylvania. Industrial properties appraised have ranged in size from 9,000 square feet to 800,000 square feet. Both owner-occupied and investor-owned industrial facilities have been appraised. Land Land valuations have included vacant, undeveloped land in commercial, industrial, residential, manufacturing, agricultural and various other zoning districts. Appraisals have been preformed on vacant land for new construction purposes and simply' asset management purposes. Consulting assignments for vacant land include various highest and best use analysis for detennining potential development strategies. Other Other special purpose properties such as storage and mini-storage facilities, nursing homes, residential subdivisions, and golf courses have been appraised in various locations across Pennsylvania. Residential Residential appraisal reports are primarily limited to Fr;mklin and Cumberland Counties; however, have been completed in Adams, Yark, and Dauphiil Counties. Both Limited summary and narrative residential appraisals have been completed base. I on the needs of our clients. ..n., ".' . .' '.' > Conunonw~lh. of Pennsylvania .:' 'Deparunent of State ,Bureau of Profc:ssiona1.awj Occupational Affairs , P.O:BOX,2649, lIauisbUIg; PA 17105-2649 ,.I" .,' /" ';_J Classification , ~,,-.' , Certilicate NUIIlber GA-001599-L ,'-' GENERAL APPRAISER I :'-'j , "-, ,', ~ ." \ ... ,,; -, CenificaPOD Qate., "'. \ -;, \ ' DEC 15\t'9~7', ,", Issue~ MAY 16 2001 Luuc:dTo: ;~?!::ff:r ..~ - -- CommliNioocr of ProreutoDII ~ ,~patioQal Allain JOSEPH W EUlAJI , I WEST KING STREET SHIPPENSBURG PA 17257 . ,.., " Expires JUN 30 2003 . :' , " '" " ' ., , ,bsucdTo: .JOSEPH WII,lJAM EUIAlJ , "WEINSTEIN APPRAlSAL GROUP INC ,.;<WSINSTEINREALTY ADVISORS,:- \ i i'! . \,J5.NORTHCHBRRY LANE' - '" " POBOX 5005 YORK PA 17401 Commonw~lh' of Pennsylvania , <Departmen\ of State Bureau of Prof~ioua1 and Occupational Affairs 'P.(l, BOX 2649, HarriSbUIg, PA 17105-2649 " ; Classification REAL ESTATE SALESPERSON Certificate NwDber, Certification Date Issued RS-194417-L MAR 27 1992 MAY 30 2000 ;~,. :", '\..\ ,,;~/'/<.- - <~\ /. (I,: : <;," :', . ~~/~~ Si...~:".,t'\." ',', .- ; I '" ')',;',' ,,' ,,' ; "S,,,,,,,,,-,,- . . (Jt:t;;.. - ' " '....,' I.', ~" . - . ,. , f ~ . U-L./ commiuioDCt or Pro . aDd QQ;upationat Affain , ": .' " .'.", ?' Expires.., MAY 31 2002 .. ',;. ~ ' APPRAISAL OF REAL PROPERTY LOCATED AT: 113-113.5 North Earl Street Shippensburg, PA 17257 FOR: Carol A. Carmack 108 North Prince Street Shippensburg, PA 17257 AS OF: January 18, 2002 BY: Apex Valuation Services 1 West King Street, Suite 2A Shippen~burg, PA 17257 Farm 00- "TOTAl 2000 for Windows' appraisal s~ftware by a Ia mode, Inc.-1-800-A1..AMODE - Apex Valuation Services 1 West King Street, Suite 2A Shippensburg, PA 17257 January 28, 2002 Carol A. Carmack 108 North Prince Street Shippensburg, PA 17257 Re: Property: Borrower: File No.: 113-113.5 North Earl Street Shippensburg, PA 17257 NIA 203 In accordance with your request, we have appraised the above referenced property. The report of that appraisal is attached. The purpose of this appraisal is to estimate the market value of the property described in this appraisal report, as improved, in unencumbered fee simple tille of ownership. This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The value conclusions reported are as of the effective date staled in the body of the report and contingent upon the certification and limiting conditions attached. It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional service to you. Sincerely, ~ {:J ~j;;;L Joseph W. Elhajj, President - ~ . Apex Valuation Services (7171 530.8701 , , , UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 203 l'mJ!etlYAddmss 113-113.5 North Earl Street CItvShiD.Q.f!.~ S~W PA Z1oCode17257 r-';;-alDescrfDtioo See Deed County Cumberland Assessor's P~""'I No. 34~33-1867 -034 Tax Year 2001 R{ TaxasS 1.013.64 SDeCIaIAssessmentsSO.OO Borrower N/A Current Owner Edwin A. and Gladvs M. Hershev Occunant: lX1 Owner rlTenant r" Vacant .. Pro nhls sed I FeeSlm Ie I leasehold PrnlectT'M I PUO I i Condominium UD Ao HOAS N/A Mo. N hbortJoodorPro Nama NIA ~ RQf.Q.rence Streets 98 CensusTractN/A SaIIlPi1c! S N/A Date of Sale NfA O.~p_1kl!!andLamounLo1I9anc!taIgQ~~j_~Rer NIA LenderICllent Carol A. Carmack Ad!!nl_~J.91! North Prill~ELSJ!.~1 $hippensburo, PA 17257 r~ser Josenh W. Elhaii Address 1 West Kinn Street Suilf! 2A Shinnensburn PA 17257 Location ~U/baJl loJ Suburban ,~~ Ru.. Predominant h~cJe lam Iy nOl!.Sl~ Present land use % Land use change tRI AG BuI~ up C8l0ver75% IllS-75% [-JUnd"25% occupancy (000) ~rn) Onefaml~ 70 C8l Notike~ DUkeJy --- ---- Growlh"" []Rapld C8l Stab. [:1 Slow t><J Owner -.-.9Q_ low 5,L 2-4faml~ 15 Dlnp"",ss Propel1yvaJues C]lllCIllamlli I5<lStabla [J Declining I] Tenant 100~~gL120 MuM-faml~ To: Oemaml'SlIIlply 0 Shorlage t><J In balance [lOver supp~ t><J Va""'I""1 ~oPledomjni~_ Commercial 15 M_no 1m, r~ Un<ler 3 mos. Ri 3-6 mos. h Over 6 mos. ~1 V" ,--, ,.. I 75 90 Note: RaclI aDd Ih. racial compolltlon of Ihe neighborhood are nOI appraisal 'actors. Neighbolflood boundaries and characte~stIcs: The subiect is bound 10 the north and south bv residentJal housino, 10 the east bv an alley. and to the west by North Earl Street. The neiqhborhood is characterized bv residential and commiOl.rcial use. - Factors thai: affectthll marketablliIy ollhe properties In the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): The subieclls located in the Borouah of Shiooensburc. 1I is made UP orimarily of allach~d and detached sinQle familv dwellinos. Some of these have been converted into small commercial p..!QP.erties which serve the needs of tbe loeal community. The subject Is iust over 2.5 miles west of the nearest access ramp to Interstate 81. Interstate 81 is the areas mail} interstaLe that runs in a Qeneral north-south direction. Maintenance levels are ayerage overall and there are_no loeatlonal factors that would negatively innuence value or marketabilitv. MarIr.at condlUons In the subject nelghbortlood Oncludlng support lor tnu abovu conclusions related 10 the trend or properly values, demand/supply, and marketing Ume -suchasdalaoncompetlllVllpropertleslorsalelnthenelghbortlood,desc~pIlonoltheplllValenceofsaJesandflnanclngconcessions,etc.): Current market is aenerally stable with mosl.Q.[Qoertles priced to sell within a 90-180 day marketlna timo. Conventional financino is most orevalent with FHA and VA beino used on a limited basis. Seller concessions are oenerally not necessary: however some sellers will use them to reduce marketinQ time. No sionificant aporeciation in values has been observe_u over the cast vear. SUDolv and demand aDDear to be QeneraUy in balance. - Ptojectlnlormallon lorPUO, (II applicable) - -Is!tle developortbulldBl'In control of the Home Owners' Assoclation (HOA)? ~ ~es I6J No ApproxImate total number of unlts In the subject proJect NIA Approximate total number of unlts lor sale In the subject project N/A DescMbe common elements and recreational facilities: NIA rnmenOOIIS 250.4 feet by 32.2 feet c- Topography GenerallY level.slooed frontaoe Sill.... 0.18 acres ComerLol DYes t><JtJo Slza Tvpicalto neiohborhood Speclllczonlnoclassificatlonanddescripllon Residential 5 ~- Shape Rectanoular Zol1Ing compDanca (g'J legal !'X1L) legal nonconf~~ng (Grandlatherad use) 0 Illegal o Nownl"" DraInage Adeauate ~~aslmnrnYAd: Presentuser-IOIheruse(llXDlalnl -- View Urban Utilities Pubic Ilthar Ofl-sllelmprovements Type Public PrIvate landscaping Averaoe EOctr1chy C8l Street Paved N II DrtvewaySurface Gravel Gas !XI CurWgutter Concrete t><J IJ Appamnt easements Typical utility Walaf !XI 51dewalk Concrete t><J I] FEMA Specl~ Aood Hazard I>Jea Ov" t><J No Sanltasysewer !XI Stroetllghts None [nl i~ fEMAZooe C Map Date 03/15/79 Storm sewer M Allev Paved M FEMA Mao No. 4203680001 A Comments (apparent adverse easements, encroacl1mants, special assessments, slide areas, Illegal or legal nonconforming zoning use, etc.): No adverse easements or encroachments were noted~ however. title documents were not analyzed. The site. utilitv, and view are tvoicallo the area. GENERALOESCRlPTION EXTERIORDESGf1IPTlDN FOUtwATIDN BASEMENT INSULATION No.ofUnlts 1 Foundation Stone Sob 0% AmaSq.A. 1204 Roof ~[J No.ofStor1es 2 ExteIIorWalls ..5...b.llli1.le CrawlSpace 0% % Rnlsl1ed 0% CalUIli~[J Type(1lel.lAtt.) Attached Roof Surface $hinnle Basement 100% CelUng ~osed Walls~[1 Oaslgn(Style) DUPI~L-. Gutters & DwnspIS. Aluminum Sump Pump No Walls _Ex nosed Roor ~D Elds1ll1lVProposed Existina WIndow Type Sin ale ana Dampness Avetan.e Floor Concrete/Dirt None ~D Ag, (Yrn.) 121 Stomv'Screens Screens/Storm SelIIement Avetane OuIsIdeErrtryStairs U~[><J Eflo:1lveA '''B.l 30 MaoofacturedHouse No Infestation None observed R factors unknown ROOMS LM Dlnlna KItchen 0.. F.m"'Rm. Rec.Rm. Bedrooms # Baths Laund Ilthar I>Jeasa.A. - Basement 1204 l!veJ1 1 1 2 1 1204 - lawl2 4 2 1204 - Rnlshed area above nrade contains: 9 Rooms' 4 Bedroom/s'. 2 Batl1(s\' 2408 ~uareFeetofGrossLMnoArea INTERIOR MatBrlaIsICondftlon HEATING K1TCHENEQUlP. Arne AMENIT1ES CAR STORAGE: - Room CametIWoodNinvt Type Fored air R~ilgel1lor C8l None [1 F1mpoca(s)#_D Nona [><J WaDs Panelinn./Plaster Fu,I Oil Rango'Oven C8l Sial. N Patio No 0 Garage #otcars TnnVAnlsh Wood Con~llion Fair Disposal D Drop StaIr D Dock No 0 AlIached BalhFloor VinYl COOUllG Dlsl1washer !XI Scullla 0 Porch FronVRear C8l Detached Bath Walnscot Fiberolass Central No FaWHood C8l Floor [J Fence No 0 Bwn;n Doorn Wood OllIer No M<rowaYll t><J Heated R Pool No 0 CIlJlOfl Condition N/A washe;in;"'r i4 A.shed 1- 0r1vewa' 2 Additional features (speclalenergyefficlentlt8ms,clc.): None. Cond/tioo 01 lhlI Improvements, depreciation (ptTyslcal, functional. and IIldemal), repairs needed. quality of construction, ramodellng/addlUons. etc.: Subject Is in overall fair condition on the interior and exterior. There were several internal inadeQuacies noted. Both bathrooms are in need of renovation. New electrIcal wirine and outlets are needed throuohout the entire house. Additionallv. two new furnaces will reolace the existina aaina units. - Adverse BnVironmemal conditions (such as, but not nmlted 10, hazardous wasteS, toxk: substances, etc.) prasenlln the Improvements. on the site, or In IhlI immediate vicinity 01 the subJect property.: N.(l adverse environmental conditions were noted. However. the aopraiser is not Qualified 10 detect such conditions. 11 is suooested that tho client retain an exnert if so desired. Freddie Mac Form 70 6193 PAGE10F2 Fannie MaeFonn 1004 lV93 Fonn UA2 - "TOTAl 2000 forWlndows' apPRIsal software by a Ia mode, Inc,-l-800-ALAMOOE UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 203 ESTIMATED SITE VAlUE . $ 20.000 Comments on Cost Approach (such as, SOUrcB of cost esllmate. site value, ESTIMATED REPROOUCTION COST-NEW-oF IMPROVEMENTS: SQUa/'lI foot calculaUon and for HUO, VA and FmHA, the asUmatad remaining OWe~ng 2.408 Sq. R. @$ 36,00_. $ 86 688 economic Ins 01 the property): Marshall & Swift Residential Cost Sq.R.@$ = Handbogk, updated Quarterly. and local contractors were used - for the Replacement Cost Approach. G...go'Carport _Sq.R.@$ . Total EstImated Cost New =$ 86.688 I---- lass Pl1ysi<aJ Functional ExremaJ ~_.. OepI8CJatIOIl 43.3441 I ""$~---.i3.344 - OepI8CJatedVaJIOofl_nts =$ 43.344 '_'V"," of SII8Im_ments =$ INDICATED VALUE BY COST APPROACH .S 63,344 ITEM SUBJECT COMPARABlE NO.1 COMPARABLE NO, 2 COMPARABLE NO. J 113-113.5 North Ear1 Street 111 Garfield Street 42 Richard Avenue 112 South Prince Street Address ShiQoensbura. PA 17257 Shippensburg, PA 17257_ Shinnensbura. PA 17257 ShioDensburQ, PA 17257 P_IvIoSublect , Less than .5 ml. SE Less than .5 ml. NE less than .5 mi. SE SaJosPrlce I. N/A 35 000 43 000 38 500 Pik:eJGrossLMnaArea Is cl' 39.59 r/J ,I. 33.081/J 'J/' ,1I,s 27.68 r/J Dataand/or Site Inspection MRIS MRIS MR1S V8l1flcatlonSource Public R_ecords Public R~~_Q.r_ds Public Re.<;:ords Public Records VAlUEADJUSTMEtrrS OESCRIPTIOH DESCRIPTION +H$Adjusl DESCRIPTION +1 l$Adjust DESCRIPTION +HSAdiusl Sales or Ananclng T ypicaJ Typical Typical ~skms None None None pateof"","",, 12/11/01 11/15/01 - .07/24/00 localon Urban Urban Urban Urban !.sase""""""'SIm"" Fee simnle Fee simple Fee simple Fee simole SII8 0.18 acres 0.05 acres 0.06 acres 0.04 acres View Urban Similar Similar Similar omnand~ Dunlex _DuRlex Duolex _Duolex I n;;;..0IConsIruclIon Averane .Similar Similar Similar 1.- 121 70 (est.) 73 102 ConditIon Fair Suoerior -9.750 Superior .9.750 Suoerior -9750 Abow Grado Total: Bdrms: BaJIis TDfaJ :8drms: -: fl9fBJ : Bd/!lls: Ball1s: TotaI:Bdnns: -: Room Count 9 4 2 5 2 1 6: 3 ~ 6 3 1 Gmss lMnn Are, 2408So..R. 884 .R.: +4 800 1.300 So. A. : .1.400 1391 s..R.: -2800 _&Rnlshed Full basement Full basement Full basement Full basement Rooms Below Grade Unfinished Unfinished Unfinished Unfinished FuncllonalUlimv Averane Similar Similar Similar _"/I""ln" Forced air/None Forced air/None Hot water/'vVin uni : Forced air/Fans -~ffIc.ntll8ms None None None None GlIi;;;;r:;;;;;;t None None None 1 car ~1.000 Poith,PlIio,Oeck, Porch Porch Porch Porch B@P.lacefstetc. None None None None Fence Pool etc. None None None Fence +1.000 ~AdI._n _M 495JMI 1115~ 12550 AdJ_SalesPrlce ' of Comnarable " . 30050 31 850 25950 Comments on Sales Compilllson Qncludlng!tlll subject property's compaUblllty to the neighborhood, etc.) All comoarables are located WIthin a 5 mile radius of the subiect The subiect is a full duolex. The comoarables renrasen! one half of a lull duolex. The value of the comoarables after adiustments will be doubled to represent the total estimated value of the subiect since both sides of the dup-lex are similar in condition. After 2.Qjustments. the comparables ranced from $25.950 to $31.850. After beinc doubled. the estimated value of the subiect as of Januarv 18. 2002 is $58 500. See comment addenda for condition adjustment. ITEM SUBJECT COMPARABLE NO. 1 C'OMPARABLE NO. 2 COMPARABLE NO. 3 Oala,PrIceand Oala Not sold in the Not previously sold in the past 1 Not previously sold in the past 1 Not previously sold in the past 1 SooIte,forpliorsaJes past year. Public year. Public Records. year. Public Records. year. Public Records. wlfI1In"arofllllllaJsaJ Records. Analysis of any tumlnt aglUllment of sale, option, or"stlng of subject property and analysis of any p~or sales of subject and comparables within one year of tlJe date 01 appraisal: The comparables have not resold within the past Year. The subiect is currenLlv lIsted Illr sale. INDICATED VALUE BY SALES COMPARISON APPROACH .: 58.500 INDICATED VALUE BY INCOME APPROACH Of Aoolltablel EstlmaledMarketRent t N//\ ._. /Mo. x Gross Rent Multloller WA N/A ThIs appraisal Is made I2SJ 'as Is" LJ subject to thel'1lpall$, alIeraUollS,lnspectiollS or colKlltlons Ilsted below U subject to compJellon per plans & speclflcatiollS. Conditi:lns of AjlpriIsaI; Appraisal is completed subject to the foUowina conditions and with the assumption that the tille is aoad and marketable. Anal Reconciliation: Most weioht Is placed on the Sales Comparison Approach. which usually reflects the thinkino and behavior of the tvpical purchaser. This is supported. to a lesser decree. bv the Cost Approach. The Income Approach is not considered applicable due to insufficient rental data. - The ptJJ)Ose of this appraisal Is to BStlrnata the market vWe of the real property that Is the subject of this report, based on the above condJtlollS and the certlflcallon, contingent and ImIllng condlflons. and mart<al vaJuo detlnltlon 1haf.. slafed ~ llIe ...chad Freddie Mac _ 4391FNMA fonn 1004B (RovIsod 6/93 ). - I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF Januarv 18. 2002 (WHICH IS THE OATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ , 5~...Q...00 APPRAISER' () SUPERVISORY APPRAISER (ONLY IF REQUIRED): Sianature -r ..--- t'l-'"-)i"".-2$ Slanature Do~ DOIdNof Name JosephW. ~~ ? Name InspeclProperty Date ReoortSian!KI Janu.my13. 2002 Oatef\eJ!!!.rt....sklAlld ~ CeltlfIcilIon # GA..Q01599-L SlaloPA ~Certincatlon# ~te Or Slate I.Ic9nse # Slalo OrStateUcensefl Slalo Freddie Mac Form 70 W93 PAGE20F2 Fom1 UA2 - 'TOTAl 2000 ~or Wtndows" appraisal software by a Ia modo, Inc. - 1.600-AlAMODE Fannie Mae Form 1004 6-93 SUPPLEMENTAL ADDENDUM Rle No. 203 BorrowerlClient Carol A. Carmack _ProoertvAddtess 113-113.5 North Earl Street Cftv ShiPDensbuTO CoWJty Cumberland lender N/A Statu PA Z1DCodlI 17257 The real estate taxes for the subject property have been calculated based on the current assessed value. The calculation is presented below: Assessed value multiplied by the total millage of the Borough of Shippensburg equals real estate taxes. Assessed value = $75,430 Combined millage rate" .013438200 Real estate taxes = $1,013.64 The subject property is in only fair condition. While the property is still livable, substantial rehabilitation is needed to increase marketability. In the Sales Comparison Approach, substantial sdjustments were required for condition. The $9,750 adjustment represents one half of the total cost estimation prOVided by the SUbject representative and reviewed by the appraiser (due to the comparables representing one half of a full duplex). While the appraiser is not a qualified contractor, the estimates appear reasonable for this analysis. The estimates ;1re presented below. $4,500 $3,500 $7,000 $3,500 $1,000 $19,500 Update bath both sides Replace radiators with baseboard heat New fumaces both sides New electrical wiring/outlets throughout both sides Repair roof slant in rear Total Comparable Sale #3 was sold over a year ago; however, the market has remained stable and there has not been a significant change in values since then. Form SUP - "TOTAL 2000 for Windows' appraisal software by a la mode, inc. - 1-800-ALAMOOE > - Sub/eet 'Photo' Page ,Ujt;J.!,U,,_lJy,I__dY~_Ti_LL ZinCode 17257 ~.Qrrower/Cljenl Carol A. Carmack Pronl!t1v Address 113+113.5 North Earl Slreet Citv ShiDOElnsburQ GQUnlv Cumberland lerlller NfA State PA Form PIC4x6.SR - 'TOTAL 2000 for Windows' appraisal software by a la mode, inc. -1.800-ALAMODE Subject Front 113~113.5 North Earl Street SalesPriC6 N/A GLA 2,408 TolalRooms 9 TotalBedrms 4 Total Balhrms 2 Location Urban View Urban Site O.18aCfes Quality Average Age 121 Subject Rear Subject Interior Additional Subject Photographs 11.IC_.L~l!.d._V>iLIAY_C_" ,<., BOITlJwer/Clienl Carol A. Cal!l1a^ck Pronertv Address 113-113.5 North Earl Street -._._~ Gitv Shinnensbum Counll, Cumberland ~L,~ PA ZinCode 17257 Lender NIA Form PIC4x6.S1- "TOTAL 2000 for Windows" appraisal software by a I,. ;nade, inc. -1.80o.ALAMODE - Subject Street 113 North Earl Street Sale Price N/A GLA 2,408 Total Rooms 9 Bedrooms 4 Bathrooms 2 Location Urban View Urban Site Q.18 acres Quality Average Age 121 Subject Street , Comparabie Photo Page Borrower/Client Carol A. Carmack Pronl!rtvAddress 113-113.5 North Earl Street ~pensburQ County Cumberland __~i;ll~ _ PA ~Code 17257 lender NfA Comparable 1 111 Garfield Street Proximity Less than .5 mi. SE Sale Price 35,000 GlA 884 Total Rooms 5 Total Bedrms 2 TolaJBathrms 1 Localion Urban View Similar Site 0.05 acres Quality Similar Alle 70 {est.} Comparable 2 42 Richard Avenue Proximfty Less than ,5 mi. NE Sale Price 43,000 GLA 1,300 TolalRooms 6 TolalBedrms 3 TatalBathrms 1 location Urban View Similar Site 0.06 acres Quality Similar Aqe 73 Comparable 3 112 South Prince Street Proximity Less than ,5 mi. SE Sale Price 38,500 GLA 1,391 TolalRooms 6 TotalBf){jlTlls 3 TolalBathrms 1 location Urban View Similar Site 0.04 acres Quality Similar Age 102 Form PIC4x6.CR - ''TOTAL 2000 lor Windows' appraisal soltwmi! by a 101 mode, inc. - 1.800-ALAMODE Comparable Sales M3p ~\ '\ / / " \, / // ~ /// \\ :~9~// "\~~ \ ~ ,~ ",/ ~\'; ~ 21/ (/ ""'"" t>~~~1 ~ >~$i I --(~ I Q~F"- / il .' /:..,jf'0 .,. ", i " , , ; / , .tJo?: / --------- ~ ''''''''-' '" ". '; / / \ // ^" // 1)~ '..~ "<j, ", '. "{; f",> r'~ / V // ~v/ / .. ""/// /' ",,/ ,~l ,,'i' &0' J / .\ll(// 6.~~"Si ,Ii' )~ Ii / / / ,.~""v/ /?f-\~~ - Streets98 '",. '" .. .. .. CDpyIighl0 11l6&-1997, MiatlIClftCorpontllonend!QfIr.a~.AlI rlgIQ..-erv1ld. Plee!leYlsltourweb,lt..htIp:JImIlpll,eJol*IllI.oom '-' MULTI-PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELi'.TED TRANSACTIONS Apex Valuation Sel'iJ <"S (717)530-8701 BorrowerICIent Carol A. Carmack I Pmoertv Addl'llSS 113.113.5 North Earl Street City Shiooensbura County Cumberland Lender N/A State PA Z1l1Codu 17257 Thls Mulll-Purpose Supplemental Addendum for Federally Related T I1flsactlons was designed to provide the appralser with a convenient way to comply with the current appraisal slandanls and requirements of the Federal Deposit Insurance Corporation (FDIC), the Offlce of the Comptroller of Currency (OCe), The OffIce 01 TMft SupelVlslon (OTS),1hB Resolution Trust Corporation (RTe), and the Federal Reserve. This Multi-Purpose Supplemental Addendum Is for use with any appraisal. Only those statements which have been checked by tho appraiser apply to the property being appraised. , txJ PURPOSE & FUNCTION OF APPRAISAL The purpose OftheappRlsal Is 10 esllmale tile mamrtvalue 01 the subject property as defined herein. The function 01 the appraisal Istoasslsttha above..named Lender In evaluating the subject property for lending purposes. This Is a Federally relatedtJansaction. M EXTENT OF APPRAISAL PROCESS txJ T11e aplJl1lsal Is basedon1he Information gatllered by tile appralserlrompubUcrecortls, olherldenllfledsources ,lnspecUonofthosubjaclpropertyand nelghbolhood, and salactlon of comparable sales within tho subject mwt area. The o~glnal source of thlI comparables Is shown In tho Data Source section oth marketgrtd aJongwithlhll soorceofconllnnallon, navaJlable. Theo~glnal source Is presentlldflrst The sources and data are considered rellable. Whon conlictlno Infonnation was provided, tile source deemed most reliable has been used. Data be1lowd to be u/U1lllable was not Included In the report nor used as a basis for 1he value concluslon. k'<J The Reproduction Cost Is based on Marshall and ~wifl Residonli!11 Cost Handbook supplemented by the appJaisef's knowledge 011he local mwl M Physical depreclaUon Is based on1he estimated eflective age of the subJect property. FunctlonalamVorextemaldepreclaUon, npresent Isspeciflcally addnIssed IntlJe apptalsal report or othar addenda. In estlmaUng the site value, Iha appraiser has relied on persOllal know\edge 0 fthe local market. this knowledge Is based on p~or amVor curren! analysis of site sales amVor abslractlon of site values from sales of Improvud properlles. C><J The subject property Is located In an area of primarlly owner-occupied single famlly residences and the Income Approach Is not considered to be meanlngluL For this reason, the Income Approach was not used. 0 The Estimated Markel: Rent and Gross Rent MulUpller uUllzed In the Income Approach am based on thlI appraiser's knowledge of the subject markal: area. Therenlalknow\edgelsbasedonp~orandlorcurrentrentalratesurveysofresldentlalproperUes. The Gross Rent MulUpller Is based on pr10r and/or current analysis ofpl1ces and market rates for residential propertles. 0 Forlncoma produclngpropertles,ac1ualrerrts, vacancies and expens8S have been reported and analyzed. Thayhave been used to projectfulurerents, vacancies antl expenses. D<1 SUBJECT PROPERTY OFFERING INFORMATION A<<onInglo Metropolitan Reqionallnfonnation Services the subject property: k<1 has not been flffered for sala In the past 30 days. DJu~lorsaJelor$ o wasJlfImd lor sale wIlf1In the past 30 days lor $ [I Offering OIonna1lonw...-,reoto the flnal recOllClllatIon olvalue. [J Offering InfonnaUon was Mt cflnsldered In thIllillal reconclllaUon of valoo. " D OfterInQ information was not available. The reasons for unavallablll1y and the steps taken by UIO appraiser am lIXplalned later In this addendum. N SALES HISTORY OF SUBJECT PROPERTY Accortllngto Public Records the subject property: {;8J bas oottransferred in1he pasltweJve months. n ha.Urinsferndlnthepasltwelvemonths. [] All pOor sales which have occurred In tile past twelve months am listed below and reconciled 10 the appraised value, either In the body of Iha report or In the addenda. Date Sales Price Document # Seller Buyer txJ FEMA FLOOD HAZARD DATA ~ Subject property iUlIltJocateilln a FEMA Special Rood Hazard Area. 0 Subject property lsJocated to . FEMA Special Rood Hazard Area. Zone FEMA Map/Panel # Map Dale Hame of Community Ie 4203680001 A 03f15f79 Borou/"lh of Shinnensburn o The community dOll&JlOt..padlclpata In the National Rood Insurance Program. CxJ Thecommunlty~ In the NaUonal Aood Insurance Program. [J tt.,owredby._program. n It Is covered by an emmDCY prooram. I Page1of2 Fonn MPA - "TOTAl 2000 for WIndows' appraisal sllftwam by a la mode, Inc. -1-80o..AL.AMQDE -- e>q CURRENT SALES CONTRACT ~Thllsubjectproportylscurrentlvnolundercnntract. o ThllcontractancVorescrowlnstructlonsWllm..nlll.a'iallabll..1or..nrrleW. The unavaDability 01 the contract Is explained later In the addenda section. [J The contract aIKVor escrow JnstrucUons wem.JIlriewed. The following summar\zas tho contract: I Contract Dala Amendment Dalll Contract Price Seller I I Edwin A. and Gladv5 M. Hershe" I 0 The contract lndIcatBd lhat peIiOnoJ property mJlOIJooIude<! hi the sale. ,-, The contract lndIcatBdlhatpeIiOnoJ propertyim.ll<:lude<!. ~conslsted 01 u 81 Estlmatedcontr1buloryvaluels$ PoIlOllai property _Include<! hi the flnoJ valu. .slmalo. [J Po""noJ property warn:IUded In the flnoJ va.. .slmalo. o The contract lndIcatad lIllflnaoclnll concosslollS or other Incentives. o ThIlcontractlndlcatedtbllfollowlnocoocess/onsorlncentives: 0 If concessions or Incentives wdst, the comparablBs were checked lor similar concessions and a::proprlate adjustments were madll, If applicable, so thatlhll final value conclusion Is In compYance wItI1tl1e MafXetValue delIned herein. k;] MARKET OVERVIEW Include anexplanallon 01 currenl market condUlons andlrends. Three 10 six months Is considered a reasonable mWtIng pe~od lor tho sublect properly base~ on MelrODolitan Reoionallnformatron Services k;] ADDITIONAL CERTIFICATION 1l1eAppralsercertlfles andagreeslhat (1) l11e analyses, opinions and conclusions Wllre developed, and this report was prepared, In confoimity wtlh the UnnOllTl Standards 01 Professional Appraisal Prtctlce ruSPAP"), axcept that Itie Departure Provision of the U$PAP does not apply. (2) Their compensation Is not contingent upon thEl reporting of predEltennlned value or direction In value' thai favors the cause of the cUent, Ihll amount oflhllvalull ElStImate,1tle attainment ot a SUpulated result, or the occurrence ofa subsequentevenl (3) ThIs appraisal assignment was not based on a requested minimum valuation, a specll\c valuatlon, or the approval of a loan. It1 ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS 1heva/ue estimated Is based on the assumption that the property Is not negatively aflected by the exIslence of Ilazanlous sub stallcesor dfltrlmental environmental condltlons unless otherwise stated Inthls report The appraiser Is not an elQ>llrt In the Identification of hazardous substancesordettlmental environmental condlUoos. The appraiser's routine lnspectlon 01 and Inqullles about the subJecI property did not develop anylnfonnatlon that indicated any apparent s1gnlficant hazardous substances or delJlmental environmental cornlltlons which would affect the property negatively unless otherwise stated In this report ttls posslbletlJatteslsand Inspecllonsmade by a qualified hazardous substance and envIroMlental expertwoukl reveal the existence 01 hazanIous substances 01 detrimental envlronmental conditions on or around the property that would negatlwly affect lts value. n ADDITIONAL COMMENTS IXJ APPRAISER'S SIGNATURE & L1C~NSE/CERTIFICATION - /<.J~. 9 Efrectl,'ll Date January 1.11_?~ Date Prepared January 28. 2002 Appralser'sSlQnature ~~.~~=.).--LI,~- - Appralser's Name (p~nt) JOseOh W. Elhali~/ ---~ Phone I V17 } 530-8701 Stale PA U Ucense e>q Cel1lllcallon# GA-001~in9.l Tax 10 # 191.:.90-3507 1-1 CD-SIGNING APPRAISER'S CERTIFICATION 0 The co-signing appIaiser has DElJ'!lonallv Inspected tIie subject property, bC~llnslde and out, and has made an exte~or Inspection of all comparable sales Istlldlnthereport The report was preparedbytlie appralsarunderdlrect~upoNlsion 01 the co-signing appraiser. TtIeco-slgnlngapprtlseraccepts respoos/billlyforthecontenls 01 tile report including the value cOllCluslons and the UmlUng condltlons, andconnllTl s thai the certll\catlons apply ful~tothe_gnlngapjN1iser. LJ Theco-slgnlngappralser~Jnspectedthelnteflorofthesu>Jjeclpropertyand: 0 hat.not.InsQDcttheexte~orofthesubJectpropertyandallcomparablesalllsllstedlnthereport 0 t\allnsJIeCtlld1heexterforofthe subject property and alIcomparab!e sales !isted In the report 0 The report was prepared by the appraiser under direct supervision of the ctJ-slgnlng appraiser. The co-signing appraiser accepts flIsponslbllily for the contents of the report. Includlng Ihe value conclusions and the Umlllng conditions, and conflnns thaI the certiflcaU ons apply fully to the co-slonlng appralsefwlthtlie axceptlon of the c81llflcatlon regarding physical lnspecUons. Theabovedesc~l>esthelewl oflnspecllon pelfonned by the co-s1gnlng_. D The co-sIonlng appraiser's level of Inspection, Involverrenl In the appraisal process and certificallon are covered elsewh erelntheaddandasec1lon oflhlslJllll'isal. [J CO-SIGNING APPRAISER'S SIGNATUR~ & L1C~NSE/CERTIFICATION ~ EflocU\I8Dale DalaPrepared 5 Slgnatul'8 --., Co-SIgnlng AppraIser's N... (prlnt) Phone I ( I Stale [JUce... IJC.rliI1cation# Tax 10 # Page2012 Fonn MPA - 'TOTAL 2000 for Windows. appralsal software by a la I'-code, Inc. -1-80G-ALAMODE - DEFINITION OF MARKET VALUE: The mo~ probab~ pile. which a property should M~ In acompetiUve and open mai1<et underall condmons requisite 10 afalr saIe,tha buyer and sellar, eachacllng prudenUy,knowIedgeablyandassumlngtheprkelsnotaffe ctedbyunduestlmulus.lmpllcftlnthls deflnlUon Is tile consummation of a sale as of a specified date and the passing ollitle from sellerta buyer under condlUons whereby: (1) buyer and seller are typically motivated; (2) both parties are well Informed or weU advised, and each acting In wtlat he conslder5 his own best Interest; (3) a reasonable time Is allowed for exposure In the open market; (4) payment Is made In teons 01 cash In U.S. dollars or In terms of financial am,ngements comparable thereto; and (5) the pl1ce represents the nonnal consideration lortl1e propartysold unatlected by special or creallve financing or sales concllSslons* granted by anyone assoclated wIll1 lhesale. .. Adjustments to the comparables must be made for special or creative financing Dr sales concessions. No adjustments are oocassary fa( those costs which are nonnalfy paid by sellers as a resuft of traditlon or law In a IIl3flr.et area; these costs are readily Identifiable sincetl1esellerpaysthesecostslnvlrtuallyaDsalestransactklns. Spuclalorcreallvefinanclngadjustmentscanbemadetothe comparablepropertybycompat1sfmstofinanclngtennsofferedbyatl1lrdpilltylnstftutlonallendertl1al:lsnotall1ladyInvolved In the propertyortransactlon. kryadjustmentshould not be calculated ona mecllanlcal doUar for dollar cost of the nnanclng orconce ssion but the doUaramount of any adjustment should approximate the matXeI.'s reaction to the financing orca ncesslonsbasedonthe appralser'sjudgamllfll STATEMENT OF LIMITING CONDITIONS ANO APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appralscr'scertlncatlanthatappearn In thc appraisal report Is subjecl lathe following conditions: 1, TheappralserwiUootbe responsiblu formattelS ot a legal nature Ihat affect either IhlI prope1l)' being appraised or the tiIle toll Theappralserassumes1t\al thetllle Is good ancl marketable and,therefore, will not render any opinions aboulU1Ctitle. The property Is appraised on the basis of K belng underrasponslble ownership. 2. The appraiser has provided a sketch In the appr.llsal report to show ~mate diffi8ns1ons of the Improvements and the sk8tch is Included only to assist the reader of the report In visualizing the property and understanding IhlI apjlfa1ser's JetermlnaUon of lis s/ze. 3. The appraiser has examined the available ftood maps thai: are provided by the federal Emergency Management Agency (or ather data sources) and has noted In the appraisal report whether the subject s/lels located In an IdantIfIed Special Rood Hazard Area. Because the appraiser Is not a surveyor, lie or she makes no guntees, axpress or implied, regarding this detem1lnat1on. 4. Theappralsefwlll not glve testimony or appear In court because he or she made an appraisal of the property In question, unl essspeclflC arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land In the cost approach al lts highest and besl use and the improvements at lheIr contriblll oryvalue.These separalB valuaUons of the land and Improvements must not be used In conJunctionwllh any atherappralsaI and are InvaDd If they are soused. 6. The appraiser has nolad In the appraisal report any adverse condlUons (such as,needed repairs, aepreclaUon, the presence of hazardous w astes,toxIc substances, etc.) observed dullng the Inspecllon of the subject property or that he or sIle became aware of duflng the normal research involved In performing theappralsaJ. Unless olherwlse stated In the appraisal report, lhe appraiser has no knowledge of any hidden orunapparem conditions of tile property or adve1se environmental coodlllons Qncludlng the presence of hazatdouswastes, toxic substances, etc.) that would make lhe property more or less val uable,and has assumed that thenl are no such condllions and makes no guarantees or warranties, lllqIress or implied, regarding tlle condttlon of the property. The appralserwlanotberesponsibleforanysuchcondltionslhatdoexlstorforanyenglneedngortestlngthalmlghlberequlredtodlscoyerwhethersuch condlUonsexlst Becausetheappr.llserls nat an expert In the neld ofenvlronmental Ilazards,the appraisal report must not be considered as an envIrorunental assessment of the property. 7. The appraiser obtained the Information, estimates, and opinions that were expressed In the appraisal repmt from sources that he or she considers to be reUabIe and beDeves them to be true and correct. The appraiser does not assume responslblllly for the accuracy of such Items that were furnished by other parties. 8. The appraiser w1~ not disclose the contents of the appraisal report except as provided for in the Unnorm Slandards of Professional Appraisal Practice. 9. The appraiser tlas based hIs or her appr.llsal repolt and valuatlon concluslon for an appraisal thaI ls sut ;'Jctto satlsfactorycompletlon, repallS,or alterations an the assumptian that completion of the Improvements will be performed In a wol1unanlikB manner. 10. The appralsermustprovlaehis or her prforwr1ttenconsent before the lender/cllenlspeclftedIn the appraisal report can dlstrlbute the appraisal report QncludlnQ concluslonsaboulthu property value,the appralse(s identily and professional deslgnatlons, and relerences to any professional appraisal organizations or the fIml with wtIIchthe appralserlsassoc!ated) 10 anyone otherthanthe borrower; the mortgagee or lis successors and assl gns; the mortgage Insurer; consullants; prolesslonal appraisal organlzaUons; any stalB or federally approved filIancial InstllulIon; or aoY department, agency, or Instrumentality of the Unlt8d Slates or any stale or the DistJfcl of Columbia; exct1pt that the lender/client may dlstJibule the property descl1pt1on section of the report only to data collectloo or reporting servIce(s) without having 10 oblaln the appralse(s prtorwrttten consent The appraiser's Wl1tten consent and approval must also be oblalned before the appraisal can be conveyed by anyone to the pubUc through adVertIsing, public relations, news, sales, or other media. fnlddJe Mac Foim 439 6-93 Page10f2 FannieMaeForm1004B6-93 ApoxV.uatIonServlces 171n 530-l1701 Form ACR - "TOTAL 2000 lor WIndows. appraisal software by a la mode, Inc, -1-800-ALAMOOE APPRAISER'S CERTIFICATION: The Appralsercertltles and 'imes ~,t 1. 1 have researched the subject mar1tet area and have selectBd a minimum of three IlIcent sales of propcrtios most slmllar an dproxlmatetotllusubjeclproperty for conslderJtlon In the sales compartson analysis and have made a dollar adjustment when approprlal8 to reflect tile marXet rear;tlon to those Items of s1glllllcant variation. II a s1gnlllcant Item in a compasabIB properly Is SUperlOf to, Ol'" mora favorabllllhan, the subject pmperty, I have made a negative adjustment to reduce thB adjusted sales prtce of the comparable and,lf a s1gnllicanlltem In a comparable properly Is InferlOf to, Of less favorable than the subjllct property, I have made a positive adjus1mentto Incruasetheadjusted sales prlce of the compaJable. 2. 1 have taken Into consideration the factors thai have an Impact on vaIuB In my dllVlllopmem 01 the estimate of markBt value In the appraisal report J have not Ia'lcMingty wtUlheld any sIgfjIIcant lnfom1at1on from the appraisal report and I believe, to the best of my knowledge, that all statements and In/ormation In the appraisal raportar8truB and correct. 3. I stated lnthe appraisal report only my own personal,unblased,andprofesslonaJanalysls,oplnlons, and co ncluslons, which are subject only to the contingent and Umltlng conditions speclfled In this fonn. 4. I have 00 present or prospecUve Interest In the property that Is lhlI subjBCI:tothis ruport, and I have no prusent or prospecUve person a1lnterestorblaswilh raspecttotha parllcJpants Intha transaction. I dldnolbase,elthurpartlallyorcompletely,myanatyslsand/orthe8Slimat8ofmart.el:valuelntheappralsalrepo rt on the race, color, reBglon, sex, handicap, famlllaIstabJs, ornatlonalorlglnofellhertheprospecllveowoors or occupants 01 the subject property or of the present owners or occupants 01 the properUeslnthevlclnltyoltha subjBCtpropllrty. 5. I have 110 present or contemplated future Interest In the subject property, and nclthar my current or ILlture employment nor my compensation for perfonnlng this appraisal ls contingent on the appraised value of the property. 6. I was not required to report a predetermined value or dlfectlon In value that favors the cause of lhlI client or any related party, the amount of the value estimate, the attainment 01 a speclflc result, or the occurrence of a subsequent event In order to receive my compensation and/or employment for perfonnl~ the appraisal. I dklnolbaselhe appra1sal report on a requested mlnlmumvaluatlon, a specific valuation, or the need to approve a spec tnc mortgage loan. 7. I performed this appraisal In ConfOfTTllly wiIh tha UnWonn Standards of Professional Appraisal Practice thaI were adopted and promulgated by II1e Appraisal Standards Board of The Appraisal foundation and that were In place as of the efIectlve date of this appralsaJ,wllhthe exception 01 the de partureprovlslonolthose Standards,whIch does not apply. I acknowledge that an estimate ofa reasonable tlme foraxposure In the open marXet Is a condition In the dennition of mllketvalue and the astImate I developed Is conslslentwilhthe marfcetlng time noted In tha nelghbortJood sectlon oftl1i~ report, unless I have atherwlse stated In the reconclJlatlonsectlon. 8. J havu pelSOnally Inspected the Inlerlorandexllu1orareas 01 the subject property and the llXIerlorol all properUe sU5ted as comparables In the appraisal report. J further certify that I have noted any apparent or known advel5e condlUons In the subject Improvements, on the subject site, or on any site wlIhIn the Immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions In my analysis 01 the property value to the extent that I had market evidence to support them. I have also commented about tho enec! of the adverse condlUons on the marmtabllity 01 the subject property. 9. I personaHyprupared all conclusions and oplnlons about the real estate that wtlre set forth lnthe appraisal report If I relied on s1gnlficantprolessIonal assistance from any IndlYldual or IndMduals In the perfonnance 01 the appraisal or the preparation of the appraisal report, I have named stiCh Indlvldual(s) and lIIsclosed the speclflc fasks performed by them in the reconciliation section of this appraisal report. I certily tlJat any JndMdual so named Is quallfled to perform thetaslts. I have not authorized anyone to make a change to any Item Inthereport;therelore,WanWJaUthorlied change Is made to the apprnlsalreport, IwlHtaka no responslblllly for It. SUPERVISORY APPRAISER'S CERTIFICATION: II a supervisory appralserslgll{)d the appraisal report, he or she certillasand agrees that I directly supervise the appraiser who prepared the appraisal report, have revlewed the appraisal report, agr~o wiIh the statements and concllJslons of the appraiser, agree to be bound by the appraIsel's certllicatlons numbered 4 through 7 above, and am taldng fun responsl~Uityforthe appraisal and the appraisal report ADDRESS OF PROPERTY APPRAISED: 113 North Earl Street. ShippensburCl. PA 17257 APPRAISER: ~inatu~: ;;:r---;/.uJ /~;? Nama: Joseph W:Elhaii ---'(J;- Date SIgned: January 28. 2002 Stat8CerUf\catlon#: GA-001599-l or Stale Ucense #: State: PA ExpIraUon Date 01 CeltlIlcatIon or Ucense: 06/30/03 SUPERV;SORY APPRAISER (only II required): Signature: Name: Date Signed: State Certillcatlon#: orStateUcense#: StaIB: ExpIration Dala of Certification or Ucense: [J Old 0 . Old Not Inspect Property freddie Mac Fonn 439 6-93 Page2of2 FaooIeMaeFonn1004B6-93 Fonn ACR - "TOTAL 2000 lor Windows. appraisal softwaru by a la moda, Inc. -1-800-Al.AMOOE '.'.~'_"'A"~'''' ""'.U_~'H'" ",,"'__. ...._.........'" ~,,~.. tMn'l'Koll.II'IC.,lncll.n..p.. ~bi~ lleeb, MADE THE 2nd vI vur Lord one tho Ulland niM hundred in the llear day 0/ September eighty-three (1983) " BETWEEN W. DEAN HUTCHISON and MARVEL M. HUTCHISON, his wife, of 318 West Commerce Street, Smyrna, Delaware, 19977, Grantor 6 I and EDWIN ^. llERSHEY and GLADYS M. llEHSI-lE'i, his wife, of 112 North Earl Street, Shippcn~buru, Cumberland County, Pennsylvania, Grantee s: WITNESSETH, that in ooll8id.cration 0/ ---------Two Thousand Five Hundred----- ------------------------------($2,500.00)-------------________~Uau, ~n hand paid. the receipt whereol ia h.6rebll acknowltdged, tlUI ,aid grantors de lurebll grent and conllelf to tlu ,aid grantees, their heirs and assigns as tenants by the entirety ALL that certain tract of land situate in the Borough of Shippensburg, Cumberland County, Pennsylvania, more particularly bounded and des- cribed according to a survey prepared by John R. Kissinger, R. S., dated July 6, 1983, as follows, to wit: BEGINNING at a point along the western right-of-way line of North Earl Street at the corner of the lands herein conveyed and lands of the Grantees herein; thence along said right-of-way line South 200 151 00" East 31.93 'feet to an iron pin; thence along Tract No.2 on the hereinafter mentioned plan South 690 ~5' 00" West l16.37;feet to an iron pin; thence. in part along a III foot right-of-way North 200 15' 00" West 31.93 feet to an iron pin; thence along Lot No.1 on the hereinafter mentioned plan North 690 liS' 00" East l16.37! feet to a point, the place of BEGINNING. BEING Lot No. lA on the Final Plan of Lots prepared for W. Dean Hutchi:30n. and beine; recorded in Plan Book PaGe CONTAINING 3716 square feet. EXCEPTING AND RESERVING unto the Grantors, their heirs and assigns, the full, free liberty and right at all times hereafter forever, a perpetual and exclusive driveway and parking easement for the sole benefit of the Grantors, their heirs and assigns, contained within, and along the rear line of the within described premises, as follows, to wit: BEGINNING at a point in the corner of the lands conveyed and lands of the Grantees herein, North 690 ~5' East 39 feet, more or less, to a point; thence South 200 15' East 31.93 feet, more or loss, to a point; thence South 690 ~5' West 39 feet, more or less, to an iron pin; thence North 200 151 West 31.93 feet, more or less, to an iron pin, the place of BEGINNING. The creation of the aforementioned easement and right-of-way for the sole and exclusive benefit of the Grantors shall not be deemed to constitute an agreement to improve, alter, repair and maintain said right-Of-way nor constitute a charge or lion for the costs thereof ..2 (j!)Y"'.s 6...,,,/ ~ $dln6l'OiSt"~Co.. p-;:- 80 30 P^G[ 281 1 '/0 Real E.sLll.lJ hilllslBl'Tax. 0;'11 fyYJ Nrrt:t..!. -.,0? At..-I",,;;"', /I.V~-; Cumbo Co. Ol$t Cot ~/!::;.:,-,_ I , ..,.) against said party or the adjoining lands owned by them, except that the Grantors, their heirs and assigns, may elect to hereafter disturb the surface condition of all or any part of said easement or right-of-way for the purpOse of improving, repairing, maintaining, paving or altering the same, and all costs therefor shall, in that event, be borne by the Grantors, their heirs and aSSigns. The Grantees, their successors, assigns, employees, agents, and Invitecs, shall at no time cause, or permit to be built, attached to, or placed upon such easement arcas described herein any things, objects, structures, building or other impediment to the free and unfettered use of said easements for vehicular and pedestrian ingres:.; and egress and. in particular, without limiting the foregoing, shall not permit to be parked at any time any vehicles of any kind whatsoever nor construct nor permit to be constructed or maintained any barrier:.; or any other temporary Or permanent impediment for the free and unfettered use of said easements. The rights and priVileges herein created shall extend not only to the Grantors and to, the record owner of the adJoining lands now owned by the Grantors, but also in favor of their successors in interest, heirs and assigns, and mortgagees, any tenants to whom they may grant rights and privileges under these easements, business invitees, employees, agents. and any other persons or entities to whom they may grant rights and privileges under these easements and rights of way and any other persons or entitles to whom any of the foregoinr, may grant rights and priVileges under these easements and rights of way. Such rights and privileges may be granted either in writing or by tacit consent. BEING part of the premises which G. Leonard 1o'ogelsongcr, Wldower, by his Deed dated October I, 1979, and recorded in Deed Book "R", Volume 28, Page 439. granted and conveyed unto W. Dean Hutchison and Marvel M. Hutchison, hiG wife, Grantor::: heroin. COMMONWF.ALTII vr 1>~N!~<,'il\':'\Nj,\ ~:- ~,~::T~'NT o~ ~';~I,I"[0"' ....~;j I~M.jmR UPInJ ~ :: Z :i. no=: lAX .... ~. I:U.II"~ "~'. __. :::.; i, t nEeDI''''-D Hi;. -OFFIC nrCOf/V[" OF r OF TH~ eOM ." ., DEEDS D[,.-.MJD COUNTY.pA, '83 Sf? : 3 AN 9 3&' ::'';A - "' ~'JA~.~} , l~.~. \"":'0"'0 8001130 1m 282 , .~ , """" ..:...ic:n ... ....... :IE .... ""- "" CD ... < ::lE= CI_ a< ~ :::IE == ... - C> z= >.... a< .... ....."" ~- ... ..... CI ~ < en ... ...", ....::r:: ... lCI:: . "" to- Z"" ....... .. l;.!;l <",_ :z: ""= ..."" ... .... i:l:l-"'.... ":-,,, ::;"" a< = c.:> :::> Z<'" "" >- ..... ::lE '" :z: i:i:l < '" E5 ..... !::: ~ < z C> lCI:: "" 00 >", "" = C> = =z ...:l<", ::lE C> en =~:><,..,- ::lE ~ .: ~ ......oo<>=:,.., = ~ Z""~ .... ... "'... 00", .. CI::"" :il- z::E< C> ;::: -"" ==~"'<>=: ... ...~ 0000"'"""" .. ;;1 ~RLAND /FRANKLIN COUNTY, PENNSYLVANIA Joseph W. Elhajj Appraisal Qualifications Current position President Apex Valuation Services Previous Position Weinstein Realty Advisors, Certified General Real Estate Appraiser Weinstein Realty Advisors, Pennsylvania Licensed Real Estate Sales Agent Weinstein Realty Advisors, Real Estate Tax Consultant Real Estate Certificate and Licenses Pennsylvania State Certified General Real Estate Appraiser #GA-001599-L Pennsylvania Licensed Real Estate Sales Agent #RS-194417L Work Experience 1998- Present President Apex Valuation Services 1994-1998 Certified General Real Estate Appraiser, Weinstein Realty Advisors 1992 - Present Owner / Property Manager, Lincoln Investments; Shippcnsburg, Pennsylvania Owner / Property Manager, BJ Realty; ShipPclisburg, Pennsylvania General Education 1988-1990 Pennsylvania State University; Business Administration Real Estate Education Commercial Investment Real Estate Institute Financial Analysis for Commercial Investment Real Estate, Course CI 101 - Las Vegas, NV, 2000 Appraisal Institute Appraisal Principals, Course #110 - Pittsburgh Pennsylvania, 1995 Appraisal Procedures, Course #120- Pittsburgh, Pennsylvania, 1995 Basic Income Capitalization, Course #310- Boulder Colorado, 1997 Advanced Income Capitalization, Course #510- Boulder Colorado, 1997 Affordable Housing Valuation - Atlanta Georgia, ~997 Section 8/Hud: Rent Comparability Studies - Washington, DC, 2001 Pennsylvania Realtors institute Appraisal Standards and Ethics, Course #RA5, 1994 Current Appraisal Topics, Course #RA8, 1994 Penn State University REST 5200 Contemporary Legal Issues Affecting Real Estate Transactions, Course #00198M, Chambersburg, Pennsylvania Institute of Real Estate Studies Pennsylvania Real Estate Salesperson Licensing Requirements, 1991 The Real Estate School of York County New Home Construction, Course III, 1996 Property Investment, 1998 "Lets Get It Right", 1998 Maryland Association of Appraisers FHA Review Guidelines, 1998 - Education Division of Don Paul Shear Tax Assessment Law and Tax Appeals, 1999 Income Capitalization and Partial Interest, 1999 Published Articles "Belter Measurement of Apartment Vacancy and Collection Loss" The Appraisal Journal, January, 1998 "Assessment of Low Income Housing Tax Credit Projects" The Advisor, A publication of Weinstein Realty Advisors; Volume I, Issue 2, July 1997 Expert Court Testimony Board of Assessment Appeals - York County Board of Assessment Appeals - Adams County Board of Assessment Appeals - Dauphin County Board of Assessment Appeals - Franklin County Board of Assessment Appeals - Lancaster County Board of Assessment Appeals - Cumberland County Franklin County Court of Common PIcas Fulton County Court of Common Pleas Real Estate Investment Activity Owner: Lincoln Investments Various Multi-family Residential Dwellings Owner/Partner: BJ Realty Various Multi-family Residential Dwellings Commercial/Office Properties Types of Properties Appraised Apartment Complexes Joseph W. Elhajj has personally appraised over 10,000 apartment units in approximately 100 complexes which ranged in size from 40 to 800 units. Primary geographic focused areas for apartment appraisals have been Dauphin County, Franklin County, Adams County, Lancaster County, Cumberland County, Lawrence County, Mimin County, Fayette County, and Grecn County Pennsylvania. Additionally, apartment appraisals have been prcfonned in Delaware, New Jersey, and Maryland. Apartment appraisals have been completed for various clients including but not limited to local lenders, regional lenders, property owners, Pennsylvania Department of Housing and Urban Development, and subcontract work from other appraisal firms. Various other smaller apartment complexes have also been completed for various local lenders. Smaller apartment communities varied in size from four to forty units. Commercial Facilities Commercial appraisals previously appraised include strip shopping centers, regional malls, sclf- storage units, fast food restaurants, retail stores, gas stations, and convenience stores. The geographic area of focus for commercial appraisals has been primarily south-central Pennsylvania; however, various commercial work has been prefornlCd in Maryland and Connecticut. Office buildings Office appraisals have been prefonned all across central Pennsylvania and include facilities ranging in size from 2,800 square feet to 250,000 square feet. Both owner-occupied and investor-owned office facilities have been analyzed. The investor-owned facilities have been both single-tenant and multi-tenant and have ranged from large nationally ranked tenants to small local professional finns. Industrial Facilities Industrial appraisals have been prefonned for both new construction and existing facilities all across central Pennsylvania. Industrial properties appraised have ranged in size from 9,000 square feet to 800,000 square feet. Both owner-occupied and investor-owned industrial facilities have been appraised. Land Land valuations have included vacant, undeveloped land in commercial, industrial, residential, manufacturing, agricultural and various other zoning districts. Appraisals have been preformed on vacant land for new construction purposes and simply' asset managcment purposes. Consulting assignments for vacant land include various highest and best use analysis for dctennining potcntial development strategies. Other Other special purpose properties such as storage and mini-storage facilities, nursing homes, residential subdivisions, and golf courses have bcen appraised in various locations across Pennsylvania. Residential Residential appraisal reports are primarily limited to Franklin and Cumberland Countics; howcver, havc becn completed in Adams, York, and Dauphin Counties. Both Limited summary and narrative residential appraisals have been completed based on the needs of our clients. . I '.j"" 0' ",', ,. '.1 , ',:Commonwcalthof Pennsylvania :" 'Department of State Bureau of Prof~iona1aw:1 Occupational Affairs P.O, BOX 2649,Harrisburg, PA 17105-2649 ./., , "Classification " , Cenilicale NlIlIlber GA-001599-L , ; GENERAL APPRAISER i ::::,',,",', i .pt., Certifica+ion Qat:... . lssue4 \ .-, \ DEe 15\~'9517 MAY 16 2001 Expires JUN 30 2003 ~#/j:~~ : Si, " , ,I " ; .' ~ ,~~, ~" ",'<j' I:,. '^,~,':,!J ,~. ,; bsuedTo: Coa:ImiuioIlCC' o(ProCcuioGal.~palilmaJ AtTain JOSEPH W ELHAJJ I WEST KING STREET SHIPPENSBURG PA 17257 , " '" ", Commonwealth' of Peonsylvania , <Department of State Bureau of ProfC$iiooal and Occupational Affairs P,O, BOX 2649, Harrisburg, PA 17105-2649 , , ..' , ' '/',.-, " Classification REAL ESTATE SALESPERSON Cel1ificale NlIlIlber Certification Date Issued &pires. RS-194417-L MAR 27 1992 MAY 30 2000 MAY 31 2002 : ~ ',._)~\ ';/ /' (',<',li'(\ :', ....J ~~2Jr~ S' ~"> ". ~, ,..-: .,.. . I ' , ", , ~ ,,' ". "~. ";'Ij" ,..<'~ ' '- "- ,..'., " ,I." ~ '(~Lj C.",m"...",.f Pto ' ... ",,"p.Iio"" ^""" ',~ -lsaucd To~ .JOSEPH WILUAM ELHAJJ' , ' .' WEINSTEIN APPRMSAL GROUP INC :WEINSTEIN REALTY ADVISORS ' : i ..15.NORTH CHERRY LANE' , " ' POBOX 5005 YORK PA 17401 ',' r - THE GOOD GUYS NAUGLE MOTORS ~~~Jeep 608 W King Street, ShipPBnsburg, PA 17257. Phone (717) 532-4136' Chbg. (717) 267.~ 667 .-,---- c~ -\--D ~Ud\ {;Ot fz Es~~<,-k '+~"- \Jc.1 ()--( tl\l-j ~C") f)odl~ ArkS \),,,ti 1l)3B[(l/I"Dlfl<0l{&8&}o ~.e 11 I\d--OO pc)-<.-d 010 At-!- c~ V~kl 1-<-- .\ '/f)l~,l-r/l,' f-c..>~ /.:c I\. 1....~-./t~/:'..+L.L.:- , - Ii' /7 ~j"N (.- .5-;-- IC J' ". - p7 ;Z, /), /7257 SIJ I ' / <',>'S- I-N,-;)/r 1-, FINAL SETTLEMENT SEllER NAME t'<'/-f fJ -/ S ./ j;;;' Mete T J) /} II, ;' - "J, /7'<'A~A <.k ~ ,/ c;" ,Cl ,/ C ,j,t " .> /J.; /7:7. 5 / DATE OF SALE 3 /6-c: _2 PHONE7"- -(1..( - S' x-' ( ZIP I? L S 7 ADDRESS ~<;NIP1'<"V\ a'lfl~/, <7 lOCATION OF SALE s: 1/6'5' /l:J- I e ~ ,<'ceLI/Vt/,) j J AUCTIONEER j),1~ ;L/.'S-1...i./ j}q{.7f ,).-;J.,{?/ .: '~.::--T:::::-:~:/:;t,,,_ -\r;:~\i1::L~:j,~~~';i:~,')~::' ~ ~~':-~. . "J; PHONE f3,)..' /'/C 'j/7 i' ',i,}" ,";' :\-:.:' (-- :c-" RECEIPTS' ) (I:' SELLER's EXPENSES , ) PROFESSIONAL FEES ! 0 70 .2 -Y-A ('J C ~l AUCTIONEER $ OTHER EXPENSES 0"", lJ C , ,J" /)7),,<,1\.' Ii J..JJ3<"e CASH $ CHECKS $ OTHER RECEIPTS $ $ $ $ $ $ $ $ $ TOTAL RECEiPTS $ '/'7(''-(, {'; L? lESS TOTAL EXPENSES $ try 73. 7 7 NET PROCEEDS PAYABLE TO SEllER $ /7:Z,S',7J ClERK $ $ CASHIER II"',.} T $ (7.5/; $ JI 7,.2.7 $ -;~ 'I, c,,) $ /5, c" c) $ $ $ $ $ $ (TOTAl EXPENSES $ hl~77J I (or we), the seller, accept this settlement and acknowledge receipt of the above specified net proceeds from the auction of my goods and property sold on the above date. I accept all responsibility for providing merch~an ;,/ble title to ,all goods, and property sold. and far delivery of title to the purchaser. }; tJ "---/' .1-/7"--/,/# ,'" t- (. , /i:..$'J1-n<-/ ~~/i~CT ,;(, l'{ ClA.--lM- (..,cLl.h1) CLJ- Date .$ -.--2 ,-~ .:L '< / / ~A~ctioneer or Cashier's Signature /2. )Seller's ,1i9nature) , ../ !L/ / ti -- '-- Date >< U1 Di-t <;11. C[J.J.. fI;(,[aK Date .3 - JI -C,J- ' , (Seller's Signature) f;'=l i c:.:e.~ r-r.l"">"" - . .~ .ORRSTOWN. BANK.. '". ,<~<"(,,:-:":>' " "'," ,,-';..,', . ..,..:, >",-~"" '';.- . ~. .~. "",~ -' ~' TO: Law Office.: . Forest Myers 137 Park Place West Shippensburg, PA 17257 FROM: ORRSTOWN BANK P.O. BOX 20 SHIPPENSBURG PA 17257-0250 RE: ESTATE OF Gladys M. Hershey DECEASED DATE OF DEATH: December 6,2001 IT IS HEREBY CERTIFIED THAT THE ABOVE NAMED DECEDENT HAD, ON THE ABOVE DATE, THE FOLLOWING ACCOUNTS WITH ORRSTOWN BANK: (1) CHECKING ACCOUNTS ACCOUNT NO. 624608 625078 TITLE OF ACCOUNT Gladys M. Hershey Gladys M. Hershey DATE OPENED 3/5/86 4/1/89 DATE OF DEATH PRINCIPLE & ACCRUED INTEREST 11,583.87 4,326.22 (2) SAVINGS ACCOUNTS DATE OF DEATH ACCOUNT NO. TITLE OF ACCOUNT DATE OPENED PRINCIPLE & ACCRUED INTEREST (3) CERTIFICATES OF DEPOSIT ACCOUNT NO. TITLE OF ACCOUNT DATE OPENED 30038903 Edwin A. Hershey 2/19/88 Gladys M. Hershey 30042174 Gladys M.Hershey 7/3/91 . DATE OF DEATH PRINCIPLE & ACCRUED INTEREST 10,000.00 167.26 1,000.00 16.03 30045973 Gladys M. Hershey 4/5/91 Irrevocable Burial Fund 1,088.42 .13 Date:_12/19/01 By: Timothea Customer Service Operator PO Box 250. 5hippensburg, PA 17257. (717) 532-6114. (717) 532-4143 Fax. www.orrstown.com ,.,.~ ",. ,c,'.",'- 01123/02 '_"?':,,:'i'(. -;0:-'-, r ;!':}:i',<_J' .f-,. :~;;:~,?':'::'~ :,,;~,:f'''''''',?'}';'i'~':->:''~;~-' ,,',"--, ,','"' ','" ". "-- ,'. -., ~ 002/003 12:13 ~1 302 934 2955 CIS " . " lIallfirst 'It At1f"lfSl Financial Center N.A. PO Box 900'- MiIIboro. DE 19966 January 23, 2002 Forest N. Myers. Attorney At L,aw , 137 Park Place West Sbippensburg; PAc 17257 Re: Estate ofGladvs M. Hershev Social Security: 199-03.6068 DatetjfDeath: December 6. 2001 Dear Sir or Madam: Per your inquiIy dated JanuaI)' 14, 2002 please be advised that at tile time of dea1h; the- above.llllJl1ed decedent bad on deposit with this-bank tile'following:, 1. TypeofACCbWlt Account Number Golden Age Checking 0097290U15 Opening Date ,',,' '-. ,'. <',:~ , .'..,. Gltuiys M Hershey, Owner Edwin A.Hershey; DEeD 0//28/8rr Ownership (Names oj) 1.;':-', Balance on Daie of Death $/,226.3:l-., $ 000 Accrued Interest Total ":U,22632 2. Type of AccoWlt PersQltll{ Unsecured Loan; Account Number 2300000oo53091 Ownership (N~ oj) Gladys M Hershey, Owner Opening Date 08//5/0/ Balance on Date of Death $4,687,84 Per Diem 1.6636204 This OtXOUltl Wll$ closed on 01106/01. ,.-. "'_'.-.""," :<';i.t._'" 01123/02 trl 302 934 2955 12:13 ... " pi "yO "V'~;';;"--~"'~;-' ,...~: CIS v This letler does nol include on/accou~ in ";'iuch 'ihe deceased may bave been lis/cd as Power of Attorney, Custoditino/ Uniform Transfers.. RJpr~ent4t.ive Payee, or Trtlsl~~ under a Writ/en Agreement. For fUrther: acant1It information., closVreJ and/or ,reimbursement o/funds refer 10 below [,rancJr.: SHIPPENSBURC OfFICE,";;..> '; '" . 3~-39 EAST ~G ST~EET SHIPPE."iSBURG, P A 17B7-3S39 "." ," , Sinwely, '. /. .., ,-~ >"" ., I4J 003/003 ., CERTIFICATION OF NOTICE UNDER RULE 5.6(a) Name of Decedent: Gladys M HERSHEY Date of Death: December 06, 2001 Estate No.: 21 -01 -1142 To the Registl~r: I certify that notice of beneficial interest required by Rule 5.6(41) of the Orphans' Court Rules was served on or mailed to the following beneficiaries of the above-captioned estate on December 27, 2001. Name Add ress Marti n Carmack Carol Carmack Teena Carmack Gavlak Cindy Carmack 108 N Prince Street, Shippensburg PA 17257 108 N Prince Street, Shippensburg PA 17257 113 S Queen Street, Shippensburg PA 17257 113 N Earl Street, Shippensburg PA 17257 Notice has now been given to all persons entitled thereto under Rule 5.6(41) except None. Date: 1-~)H01.. ~~ Forest N. Myers, Esquire 137 Park Place West Shippensburg, PA 17257 (717) 532-9046 ',J (~~ Capacity: _L Counsel for Personal Representative 0._ " I. .. F:\Word Processi2tl\est~te probate\c1ient's work\hershey, gladys.cert. of notice of beneficial interest.DecOl.doc Ll..J ' Ll... ("0,1 P :,) f'''; ~9 '-~ ,U = ,~J6 LAW Ol<'FICE FOREST N. MYERS Shippensburg, Pennsylvania 17257 137 Park Place West, March 5, 20W2 Ms. Mary LXiS Register of ills - Cumberland Count One Cour1t ouse Square Carlisle PA 17013 Re: Estate of Gladys Hershey, Deceased No: 21-01-01142 Dear Ms. Le\fvis: 717/532-9046 Fax 717/532-8879 JetXl(~ fnmyers@earfhlink.nef EFl):lo ed please find check number 105 of the Estate of Gladys M Hershey, In the arnc)u t of$15,OOO.00 as partial payment of the Pennsylvania Inheritance Tax Due on ffiis ccount. \0 I Sincerelji ~ t~:;::~' Enclosure xc: Martin &. Carol Carmack Loo/{jor us on tfie we6 at forestmvers. Cawotfice. com COMMONWEALTH OF PENNSYlVI'NIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 1712B-0601 RECEIVED FROM: MYERS FOREST N SO 137 PARK PLACE EST SHIPPENSBURG, P 17257 SEAL REV-1162 EX( 11-96) PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT RECEIVED BY: REGISTER OF WILLS NO. CD 000928 ACN ASSESSMENT CONTROL NUMBER AMOUNT nnn fold ---------- ESTATE INFORMATION: SSN: 199-03-6068 FILE NUMBER: )101-1142 DECEDENT NAME: ,ERSHEY GLADYS M DATE OF PAYMENT: )3/06/2002 POSTMARK DATE: )3/05/2002 COUNTY: ::;UMBERlAND DATE OF DEATH: 2/06/2001 TOT Al AMOUN REMARKS: FOREST \J MYERS CHECK# 10!3 INITIALS: AC 101 I $15,000.00 I I I I I I I I T PAID: $15,000.00 MARY C. lEWIS REGISTER OF WillS COMMONWEALTH OF PENNSYlVAN A DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 REV-1162 EX(11-96) RECEIVED FROM: PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT MYERS FOREST N SQ 137 PARK PLACE \ VEST SHIPPENSBURG, PI 17257 ____u fold ESTATE INFORMATION:: SSN: 199-03-6068 FILE NUMBER: 101-1142 ~ ERSHEY GLADYS M (4/17/2002 ( 0/00/0000 ( UMBERLAND 12/06/2001 DECEDENT NAME: DATE OF PAYMENT: POSTMARK DATE: COUNTY: DATE OF DEATH: NO. CD 001077 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 I $2,892.04 I I I I I I I I TOTAL AMOUNT PAID: REMARKS: CAROL C) RMAC C/O FORE:;T N MYERS ESQUIRE CHECK#109 SEAL INITIALS: CW RECEIVED BY: REGISTER OF WILLS $2,892.04 MARY C. LEWIS REGISTER OF WILLS \. /7-d7- 9 BUREAU OF INDIVIDUAL TA)ES INHERITANCE TAX DIVISION DEPT. 280601 HARRISBURG, PA 17128-0601 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX '* REV-1547 EX AFP (01-021 DATE ESTATE OF DATE OF DEATH FILE NUMBER .-.; 51 COUNTY ACN FOREST N MYEriS MYERS LAW OFFICE 137 PARK PL. ~EST SHIPPENSBU~:G 'OX 3'1 \.. ~ PA 1726l! 05-27-2002 HERSHEY 12-06-2001 21 01-1142 CUMBERLAND 101 M GLADYS Allount Rellitted MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~ 02Y-NOTicE--OF-YN'HEififAifci-TAX-A-PPRA-isEifENT:--ALLOwAifci-iri------------ ----- DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX GLADYS M FILE NO. 21 01-1142 ACN 101 DATE 05-27-2002 CUT ALONG THIS LINE R'EV=iS'4-j-EX--AFP--foY ESTATE OF HERSHEY TAX RETURN WAS: (X) ACCEPTED AS FILED RESERVATION CONCERN NG FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF FETURN BASED ON: ORIGINAL RETURN 1. Real Estate U.chlldule A) 2. Stocks and Bonds (Schedule B) 3. Closely Held sto k/Partnership Interest (Schedule C) 4. Mortgages/NotEls eceivable (Schedule D) 5. Cash/Bank DepClsi s/Misc. Personal Property (Schedule E) 6. Jointly Owned Pr perty (Schedule F) 7. Transfers (Sched Ie G) 8. Total Assei:s ( ) CHANGED ll) 110.400.00 NOTE: To insure prop er (2) .00 credit to your accou nt, (3) .00 subllit the upper por tion (4) .00 of this forll with yo ur (5) 32,286.48 tax paYllent. (6) .00 (7) .00 (8) 142,686.48 APPROVED DEDUCTIONS AND EXEMPTIONS: 9. Funeral Expenses Adll. Costs/Misc. Expenses (Schedule H) 10. Debts/Mortgage L abilities/Liens (Schedule I) 11. Total Deducti. ns 12. Net Value of ax Return 13. Charitable/Golernllental Bequests; Non-elected 9113 Trusts (Schedule J) 14. Net Value of fstate Subject to Tax If an assessnent was issued previously, lines 14, 15 and/or 16, 17, 18 and reflect figu~es that include the total of ALL returns assessed to date. ASSESSMENT OF TAX: 15. Allount of Line l~ at Spousal rate (15) 16. Allount of Line l~ taxable at Lineal/Class A rate (16) 17. Allount of Line 14 at Sibling rate (17) 18. Allount of Line 14 taxable at Collateral/Class B rate (18) 19. Principal Tax I)ue TAX CREDITS: NOTE: ..._n. DATE 03-05-2002 04-17-2002 NU BER CllOI 0928 CllOII077 l+J INTEREST/PEN PAID (-) 789.47 .00 · IF PAID AFTER DATE INDI ATED, SEE REVERSE FOR CALCULATION OF AIJDI IONAL INTEREST. 13,406.98 4.736.08 (11) ll2) ll3) ll4) ]8.143 06 124,543.42 .00 124,543.42 19 will (9) llO) .00 .00 .00 124,543.42 X 00 = X 045 = X 12 = X 15 = .00 .00 .00 18,681.51 18,681.51 ll9)= AMOUNT PAID 15,000.00 2,892.04 TOTAL TAX CREDIT BALANCE OF TAX DUE INTEREST AND PEN. TOTAL DUE 18,681.51 .00 .00 .00 ( IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED. IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU MAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.) RESERVATION: Estates of decedents dying on or before December 12, 1982 -- if any future interest in the estate is transferred in possession or enjoyment to Class B (collateral) beneficiaries of the decedent after the expiration of any estate for life or for years, the Commonwealth hereby expressly reserves the right to appraise and assess transfer Inheritance Taxes at the lawful Class B (collateral) rate on any such future interest. PURPOSE OF NOTICE: PAYMENT: REFUND (CR): OBJECTIONS: ADMIN- ISTRATIVE CORRECTIONS: DISCOUNT: PENALTY: INTEREST: To fulfill the requirements of Section 2140 of the Inheritance and Estate Tax Act, Act 23 of 2000. (72 P.S. Section 9140). Detach the top portion of this Notice and submit with your payment to the Register of Wills printed on the reverse side. --Make check or money order payable to: REGISTER OF KILLS J AGENT A refund of a tax credit, which was not requested on the Tax Return, may be requested by completing an "Application for Refund of Pennsylvania Inheritance and Estate Tax" (REV-1313). Applications are available at the Office of the Register of Wills, any of the 23 Revenue District Offices, or by calling the special 24-hour answering service for forms ordering: 1-800-362-2050; services for taxpayers with special hearing and I or speaking needs: 1-800-447-3020 (TT only). Any party in interest not satisfied with the appraisement, allowance, or disallowance of deductions, or assessment of tax (including discount or interest) as shown on this Notice must object within sixty (60) days of receipt of this Notice by: --written protest to the PA Department of Revenue, Board of Appeals, Dept. 281021, Harrisburg, PA 17128-1021, OR --election to have the matter determined at audit of the account of the personal representative, OR --appeal to the Orphans' Court. Factual errors discovered on this assessment should be addressed in writing to: PA Department of Revenue, Bureau of Individual Taxes, ATTN: Post Assessment Review Unit, Dept. 280601, Harrisburg, PA 17128-0601 Phone (717) 787-6505. See page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident Decedent" (REV-1501) for an explanation of administrativelY correctable errors. If any tax due is paid within three (3) calendar months after the decedent's death, a five percent (570) discount of the tax paid is allowed. The 1570 tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not paid before January 18, 1996, the first day after the end of the tax amnesty period. This non-participation penalty is appealable in the same manner and in the the same time period as you would appeal the tax and interest that has been assessed as indicated on this notice. Interest is charged beginning with first day of delinquency, or nine (9) months and one (1) day from the date of death, to the date of payment. Taxes which became delinquent before January 1, 1982 bear interest at the rate of six (670) percent per annum calculated at a daily rate of .000164. All taxes which became delinquent on and after January 1, 1982 will bear interest at a rate which will vary from calendar year to calendar year with that rate announced by the PA Department of Revenue. The applicable interest rates for 1982 through 2002 are: Year Interest Rate Daily Interest Factor Year Interest Rate Daily Interest Factor 1982 2070 .000548 1992 970 .000247 1983 1670 .000438 1993-1994 77. .000192 1984 1170 .000301 1995-1998 970 .000247 1985 1370 .000356 1999 77. .000192 1986 1070 .000274 2000 870 .000219 1987 970 .000247 2001 970 .000247 1988-1991 1170 .000301 2002 670 .000164 --Interest is calculated as follows: INTEREST = BALANCE OF TAX UNPAID X NUKBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR --Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15) days beyond the date of the assessment. If payment is made after the interest computation date shown on the Notice, additional interest must be calculated. STATUS REPORT UNDER RULE 6.12 NameofDe edent:41~ fYt B~RSt-\f:Y Date of De a h: \ ajcpro/95, Will No.: \ - \ , Admin. No.: G/.; C) r-... . PUIS ant to Rule 6.12 ofthe Supreme Court Orphans' Court Rules, I report the following w th respect to completion of the administration of the above-captioned estate: 1. S ate ~er administration of the estate is complete: es [!j No 0 2. I the answer is No, state when the personal representative reasonably believes at the administration will be complete: 3. I the answer to No.1 is Yes, state the following: a. Did the personal ~entative file a final account with the Court? Yes _ No ~ b. The separate Orphans' Court No. (if any) for the personal representative's account is: c. Did the personal ES';s::sentative state an account informally to the parties in interest? Yes 1.0' No 0 c. Copies of receipts, releases, joinders and approval of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. Date: 1\. \ .~ . c.) -3 "~~2s- Signature -\=O~~, N'~'{~ Name ,~., ~\<- ~ ~ ~lP~S.'Iib...\2l... Address ~C.f"~ ya,.... \ TlS7 '1' '"1 'S-s 1- (lu'-\ \. Telephone No. Capacity: 0 Personal Representative [2rCounsel for personal representative