HomeMy WebLinkAbout04-07-08
,~
15056041125
REV-1500 EX (06-05)
PA Department of Revenue '*
~~~~:~~g~~~uaITaxes INHERITANCE TAX RETURN
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
OFFICIAL USE ONLY
County Code Year
File Number
)/ 07
(j )llf
Date of Birth
18312 168 5
030 4 2 0 0 7
02041921
W ell e r
E r b y
MI
L
Decedent's Last Name
Suffix
Decedent's First Name
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix
Spouse's First Name
MI
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
00 1. Original Return
o 4. Limited Estate
00
o
o
4a. Future Interest Compromise (date of 0
death after 12-12-82)
7. Decedent Maintained a Living Trust 0 8. Total Number of Safe Deposit Boxes
(Attach Copy of Trust)
10. Spousal Poverty Credit (date of death 0 11. Election to tax under Sec. 91'13(A)
between 12-31-91 and 1-1-95) (Attach Sch. 0)
CORRESPONDENT - THIS SECTION MUST BE COMPLETED, ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
2. Supplemental Return
3. Remainder Return (date of death
prior to 12-13-82)
5, Federal Estate Tax Return Required
6. Decedent Died Testate
(Attach Copy of Will)
9. Litigation Proceeds Received
o
o
o
o
H .
Ant h 0 n y
Adams
Firm Name (If Applicable)
REGISTER OF WILLS USE C?~r(
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First line of address
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Second line of address
City or Post Office
State
ZIP Code
DATE FILED
.- '1
S hip pen s bur 9
P A
17257
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Correspondent's e-mail address:htadamslaw@embarqmail.com
Under penalties of pe~ury, I declare that I have examined this retum, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct d complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
S TURE PE~SO HESPON F F ING N ~) DATE
.
Side 1
L
15056041125
15056041125
--I
.....J
15056042126
REV-1500 EX
Decedent's Social Security Number
Decedent's Name: E r by L. Well e r
RECAPITULATION
18312 168 5
1. Real estate (Schedule A)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1.
26000000
2. Stocks and Bonds (Schedule B)
.................................. 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3.
4. Mortgages & Notes Receivable (Schedule D)
........................ 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ....... 5.
6. Jointly Owned Property (Schedule F) 0 Separate Billing Requested. . . . . .. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) 0 Separate Billing Requested. . . . . .. 7.
4 0 5 4 3.9 7
8. Total Gross Assets (total Lines 1-7) 8. 3 0 0 5 4 3 . 9 7
.......................... .
9. Funeral Expenses & Administrative Costs (Schedule H) 9. 1 8 2 6 1 . 6 7
............... .
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) . . . . . . . . . . . . 10.
11. Total Deductions (total Lines 9 & 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. 1 8 2 6 1 . 6 7
12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . 12. 2 8 2 2 8 2 . 3 0
13. Charitable and Governmental Bequests/See 9113 Trusts for which
an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) . . . . . . . . . . . . . . . . . . 14. 2 8 2 2 8 2 . 3 0
TAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2) X.O _ o . 0 0 15. o . 0 0
16. Amount of Line 14 taxable 2 8 2 2 8 2 . 3 0
at lineal rate X .O~ 16. 1 2 7 0 2. 7 0
17. Amount of Line 14 taxable o . 0 0 o . 0 0
at sibling rate X .12 17.
18. Amount of Line 14 taxable o . 0 0 o . 0 0
at collateral rate X .15 18.
19. Tax Due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 1 2 7 0 2 . 7 0
.............. .
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
o
Side 2
L
15056042126
15056042126
.-J
REV-1500 EX Page 3
Decedent's Complete Address:
DECF,:DENT'S NAME
Erby L. Weller
STREET ADDRESS
194 Pebbles Road
File Number
o 0
CITY
Newburg
11 STATE
PA
, ZIP
17240
Tax Payments and Credits:
1. T ax Due (Page 2 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
12,702.70
Total Credits (A + B + C) (2)
0.00
3, Interest/Penalty if applicable
D. Interest
E. Penalty
Total Interest/Penalty ( 0 + E) (3)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund. (4)
0.00
0.00
12,702.70
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5)
B, Enter the total of Line 5 + 5A. This is the BALANCE DUE.
(5A)
(5B)
A. Enter the interest on the tax due.
12,702.70
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1, Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred; ...................................................................... D 00
b, retain the right to designate who shall use the property transferred or its income; ............................... D 00
c. retain a reversionary interest; or ................................................................................................ D 00
d. receive the promise for life of either payments, benefits or care? ....................................................... 0 00
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? ....................................................................................... 0 00
3. Did decedent own an "in trust for' or payable upon death bank account or security at his or her death? ......... 0 00
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? .................................................................................................. 0 00
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1,1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is three (3) percent [72 P.S. ~9116 (a) (1,1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P.S. ~9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an
adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as notec in
72 P.S. ~9116(1.2) [72 P.S. ~9116(a)(1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
REV-1502 EX + (6-98)
*'
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Erby L. Weller 0 0
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real property which is iointlv-owned with right of survivorshiD must be disclosed on Schedule F.
SCHEDULE A
REAL ESTATE
ITEM
NUMBER
1.
DESCRIPTION
Lot of land together with improvements thereon lying and being sistuate in
Hopewell Township, Cumberland County, Pennsylvania
Appraised at $274,500.00 (attached) Listed at $270,000.00 but has not been sold in one
year Parcel# 11-08-0601-033 assessed at 139130 X common Level Ratio factor of
1.22 = $169,738.60 Estimated value from average less cost of sale
VALUE AT DATE
OF DEATH
260,000.00
TOTAL (Also enter on line 1, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
260000.00
REV-1508 EX + (6-98)
.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1, Tangible Personal Property sold at Public auction 513.82
2. Orrstown Bank Certicate of Deposit #4000001671 14,009.48
3. Orrstown Bank Certificate of Deposit # 4000001751 12,514.79
4. Citizens account# 6140-878322 13,043.98
5. Checking Account 423.98
#6100079-496-2
6. Refund from the telephone 37.92
FILE NUMBER
o 0
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ESTATE OF
Erby L. Weller
TOTAL (Also enter on line 5, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
40,543.97
REV-1511 EX+ (12-99)
*'
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
ESTATE OF
Erby L. Weller
FILE NUMBER
o 0
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Fogelsanger-Bricker Funeral Home 8,745.50
2. Fee for assistance at service 300.00
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative (s)
Social Security Number(s)/EIN Number of Personal Representative(s)
Street Address
City State Zip
Year(s) Commission Paid:
2. Attomey Fees H. Anthony Adams 2,500.00
3. Family Exemption: (If decedenfs address is not the same as claimanfs, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent -
4. Probate Fees 320.00
5. Accountant's Fees
6. Tax Return Preparer's Fees
7. Ausherman Brothers Appraisal on Real Estate 300.00
8. Valley Medical Services 85.98
9. Harry Killian (property tax) 2,575.85
10. Nationwide Insurance (car) 26.55
11. Chambersburg Hospital 45.02
12. Harry Killian (property tax) 1,738.43
13. Martin's Appliance 316.94
14. Dr Shissler 15.00
15. Embarq 43.40
16. Nationwide (Insurance) 605.00
17. Adams Electric Co-op 644.00
TOTAL (Also enter on line 9, Recapitulation) $ 18261.67
Debts of decedent must be reported on Schedule I.
(If more space is needed, insert additional sheets of the same size)
"'"Be,.",*,
SCHEDULE J
BENEFICIARIES
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
FILE NUMBER
Erbv L. Weller 0 0
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) 01= ESTATE
I. TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
1. C. Richard Weller Lineal
1237 Newburg Road
Shippensburg, PA 17257
2. Kenneth Weller Lineal
1006 Newburg Road
Shippensburg, PA 17257
3. Joyce Russell Lineal
1008 Newburg Road
Shippensburg, PA 17257
4. Robert Weller Lineal
4918 West 500 North
Huntington, Indiana
5. Joseph Weller Lineal
200 Peebles Road
Newburg, PA 17240
6. Tammy Swope Lineal
45 Null Lane
Shippenburg, PA 17257
7. Robert Cramer Lineal
16 Null Lane
Shippensburg, PA 17257
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
(If more space is needed, insert additional sheets of the same size)
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
Erby',L. Weller
Decedent's Name
Page 2
File Number
Schedule J - Beneficiaries - 1
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS (include outright spousal distributions)
8. Scott Cramer Lineal
115 Youngs Court
Shermandale, PA 1709 U I\.)CCl \
9. T onya Perry
640 Mickey Inn
Chambersburg, PA 17201
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AN. HERSHEY- AUCTION SERVICE; LLC
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790 West High Street
Carlisle, PA 17013
(717) 532-4647
Steve Ege 717-385-5438 Cell · Chris Bream 717-226-1920 Cell
SELLERSNAME{'/(~L.dM/~r IGIy.{;./lk/bk&: DATE 2/ Zc/", 7
ADDRESS 1237 ;1k'-'V6oJ'1l t<d51"qe;,'j~ iY!t 7:?S.7 PHONES"~=f2-G9/9
OTHER 4d" Bv;JdR-tJl1/C{ 1I/~s- !.. ~1Jc)r 'S..t..J.u f AUCTIONEER % /5=-
AUCTION DATE/LOCATION / '5 L n L TUft!. f,,,, 1#,<,jc,J,1vr"Ci1cLERK %
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, , DESCRIPTION OF MERCHANDISE
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I Commission the Auctioneers to sell the merchandise to the highest bidder by Public Auction. Merchandise
to be sold as is & grouped as necessary to obtain bids. I certify that I am the owner or authorized represen-
tative of the merchandise, goods and or property and have good title and the right to sell and that they are free
from all incumbrances. I agree to accept all responsibility for providing merchantable title and for delivery of
title to the purchaser. I agree to hold harmless the Auctioneers against any claims of the nature referred to in
thi%sagre ment. /1 1') _ I'
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AUCTION SIGNATURE SELLERS SIGNATURE
I
Total Sales (Clerking Tickets Attached) $ 101 (D I '- <)
Less Sale Expense:
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% Commission Auctioneer
$ 15Z, l.{J
% Commission Clerks $
OTHER: B"",ldiI\J ~Y'h:.\ (p<)P- Lcbor S~\.)(' /8o,.aJ-AJII I()$~
TOTAL SALE EXPENSE DEDUCTED $ 502. </)
;; /" SELLERS NET $ S 13. ez..
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W ILL
I, ERBY L. WELLER, of R. D. I, Newburg, Hopewell Township, Cumberland
County, Pennsylvania, being of sound mind, memory and disposition do hereby
make, publish and declare this my Last Will and Testament, hereby revoking and
making void all wills by me heretofore made.
FIRST. I order and direct the payment of all my just debts and funeral
expenses as soon as conveniently may be after my decease.
SECOND. I give, devise and bequeath all my estate real, personal and mixed
to my beloved wife, HELEN V. WELLER, absolutely.
THIRD. In the event that my said wife predeceases me or we die as a result of
a common disaster, I then direct my hereinafter named Co-Executors, or the
survivor of them, to sell at public or private sale all my said estate and
after payment of all bills and taxes to distribute the balance among my
children share and share alike.
FOURTH. In the event that any of my beneficiaries of this my Last Will and
Testament are minors I then give and bequeath said minor's share to THE FIRST
NATIONAL BANK OF SHIPPENSBURG, Shippensburg, Pennsylvania, as Guardian NEVER-
THELESS and to invest the same during the minority of the said minor, with the
following powers:
A. The power to expend the income towards the health, support and
maintenance, and education including a college education of the
said minor;
B. The power to expend the principal, if the income is insufficient,
towards the health, maintenance and support, and education in-
cluding a college education of the said minor, within the
discretion of the said Guardian;
C. The power to distribute to the minor, when the said minor reaches
the age of twenty-one (21) years, the principal and income, if
any remaining, upon receipt of a good and valid release without
the necessity of a formal adjudication of the Guardian's account.
E7 <f 4J!J 1L (SEAL)
WIL.LIAM R. MARK
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SHI ~"ENlS.U"G. PA.
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FIFnI. I nominate, constitute and appoint HELEN V. WELLER to be the Executrix
of this my Last Will and Testament; and if the said Helen V. Weller is unable
to fulfill the duties of Executrix, I then nominate, constitute and appoint
Executors.
CHARLES R. WELLER and ANNA MAE CRAMER. or the survivor of them, to be the
IN WITNESS WHEREOF, I, ERBY L. WELLER. have hereunto set my hand and seal
to this my Last Will and Testament, written on two sheets, the first signed
for identification purposes only, this 28th day of
Signed, sealed, published and
declared by ERBY L. WELLER, the
Testator, as and for his Last
Will and Testament, in the
presence of us who have at his
request signed our names as ~
wit~~~ses hereto in ~he presence
of the said Testator and of each
other.
~--(4{ iNdUd
~~,~~J. f11 u/ /t N
WIL..L..IAM R. MARK
ATTORNin' AT L.AW
"HI"~-=Nsau"CI. P"',
December 1964.
~ '-i 1d~ (SEALl
- 2 -
I Paqe #31
Valuation Sectinn. . e o.
ISIIMA T'iD S1T'i VALUE . . . . . . = $ 85 000 Comments on Cost Approach (such as, source of cost estimate, site value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square foot calculation and for HUD, VA and FmHA, the estimated remaining
Dwelling 1 ,597 Sq. Ft. @$ 122.00 = $ 194,834 economic life of the property): No weight is placed in the cost
1 426 Sq. Ft. @$ 18.00 = 25,668 approach due to the aae of the immovemments.
. -
-
. Garage/Carport ~ Sq. Ft. @$ 22.00 = 18,392
.
.
. Total Estimated Cost New = $ 238,894
_ Less Physical Functional External
Depreciation 51,1951 I =$ 51 195
Depreciated Value of Improvements .... =$ 187 699
"As-is" Value of Site Improvements . =$ 15 000
INDICATED VALUE BY COST APPROACH . " =$ 287,699
ITEM I SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
194 Peebles Road 12861 Sandy Mount Rd 15096 Paxton Run Rd 4855 Orrstown Road
Address Newbura Orrstown Shippensbura Orrstown
Proximitv to Subiect 05' 7.94 miles SW 3.77 miles SW 8.73 miles SW
Sales Price 1$ N/A <F.,,'I ~ 299 000 %)i I!l; 300 000 .). ')liIl~
Price/Gross Livinn Area 1$ rjJ !l; 230.71 rjJ 162.34 rjJ Ii 171.84 rjJ
Data and/or Inspection MLS-Courthouse MLS-Courthouse MLS-Courthouse
Verification Source
VALUE ADJUSTMENTS _ DESCRIPTION + ( -)$ Adiust. DESCRIPTION + (-)$ Adiust. DESCRIPTION + (-)$ Adiust.
Sales or Financing W Conv DOM Conv Conv 215 DOm :
Concessions No concess No concess No conCI~SS
Date of Salemme 5-31-2006 9-30-2006 7-31-2006
Location Averaae Averaae Averaae Averaae
Leasehold/Fee Simnle Fee simple Fee Simple Fee Simple : Fee simple
Site 4.70 acres 7 Acre Ava , -11,500 18.8 AlAva : -70000 5 Acre/avg
View Averaae Averaae Averaae Averaae
Desion and Aooeal Ranch Ranch/ava Ranch/ava Ranch
Qualitv of Construction Stone & Vin/ava Brk al/ava Brk al!ava Brk al!avg
Aae 34 34 34 40
Condition Averaae Superior : -3 500 Inferior + 15 000 Good -7 500
Above Grade Total: Bdrms: Baths Total: Bdrms : Baths: Total: Bdrms : Baths: Total: Bdrms : Baths :
Room Count 6 3 2 6 : 3 : 2 8 : 3 : 2.5 -2,000 6 : :3 2
, ,
- Gross Livinn Area 1.597 Sn. Ft. 1 296 Sa. Ft. : +4515 1.848 Sa. Ft. : -3765 1.740 Sq. Ft. : -2 145
. Basement & Finished 1,426 Basement Basement : Basement
! Rooms Below Grade 0 Fam : -3 000 Fam rm -3000 Fam .den -6000
Functional Utilitv Averaae Averaae Averaae : Averaae :
E: Heatina/Coolina Base/ac Hnump/ac : Hpump/ac Hpump/ac :
- Enernv Efficient Items Thermo Thermo Thermo Thermo :
Garane/Carnort 2/shed 2 car /shed 1 car /Off/ShOD off : 3 :
. Porch, Patio, Deck, Porch,patio Patio/deck Patio/deck : Patio/deck
Firenlace(s). etc. Fireplace 2 fpl -1,000 None + 1 000 1 fpl :
Fence Pool etc. None Pool/mobile hom -1 0 000 None : add well & septic : -7 000
Kitchen BIii Std Kitchen : Std Kitchen :
Net Adi. (total\ ,)I.{ + - I!l; .24485 ~ -62 765 11+ rX1 -$ -22,645
Adjusted Sales Price ~~~I$ .....
of Comoarable 274515 . 237 235 276 355
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): Comparable sales are over 1 mile from the subject
and over six months however represent the best most recent comparable sales available within the marketplace.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data No sale prev 3 yr No sale prev 12 months No sale prev 12 months No sale prev 12 months
Source, for prior sales N/A N/A N/A N/A
within year of annraisal Courthouse Courthouse Courthouse Courthouse
Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of SUbject and com parables within one year of the date of appraisal:
The subiect monertv has not been listed for sale within the past vear.
INDICA TED VALUE BY SALES COMPARISON APPROACH $ 274 500
INDICATED VALUE BY INCOME APPROACH (if Aoolicable) Estimated Market Rent $ N/A /Mo. x Gross Rent Multiolier N/A -,$
This appraisal is made ~ "as is" [J subject to the repairs, alterations, inspections or conditions listed below D subject to completion per plans & specifications.
Conditions of Appraisal: See attached limiting conditions and Firrea addendum.
Final Reconciliation: Emphasis was placed on the Sales Comparison Approach to value which best reflects buyers within the marketplace. Cost
approach supports this estimate of value. Income approach was not utilized due too lack of comnarable sales which have sold necessary to
establish a GRM. .
- The pu"ose 01 ~is a"rnlsal Is to es~kel ,,'oe oflhe real property ~alls Ihe subjoel of.'s report, based on ~e above condillons and Ihe certificabon, conting,of
- and limiting conditions, and market value d Itlon that are stated in the attached Freddie Mac Form 439/FNMA form 1004B (Revised 6-9:L-j.
- I (WE) ESTIMATE THE MARK~E ' DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 3-4-2007
. (WHICH IS THE D~ IN~ I ND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 274,500
APPRAISER: ,1. 'l'~ _ SUPERVISORY APPRAISER (ONLY IF REQUIRED): o Did D Did Not
Sianature / /.L/ v - "'" SiQnature
Name Tim t.At'lsherman GAA Name Inspect Property
Date Report Siqned 3-27-2007 Date Report Siqned
State Certification # Ga-000149-L State Pa State Certification # State
Or State License # State Or State License # State
UNIFORM RESIDENTIAL APPRAISAL REPORT FII N
Freddie Mac Form 70 6/93
PAGE 2 OF 2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1004 6-93
Ausherman Bros. Real Estate Inc.
I Paoe #21
~rJ.lmm~:!r~r~raisal Report UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo.
Pronertv Address 194 Peebles Road City Newbura State Pa Zin Code 17240
LenalDescrintion Deed book Vol. 14G paae 314 Countv Cumberland
Assessor's Parcel No. 11-08-0601-033 Tax Year 2007 R.E. Taxes $ 1,987 Soecial Assessments $ 0.00
Borrower Estate of Erbv Weller Current Owner Estate of Erbv Weller Occuoant: rx1 Owner I" Tenant I -I Vacant
.. Pronertv rinhts aooraised rx1 Fee Simole I Leasehold Proiect Tvoe l PUD I l Condominium (HUDNA onlv) HOA $ N/A IMo.
Neiohborhood or Proiect Name Newbura Mao Reference 11-08-0601-033 Census Tract 0131.01
Sale Price $ N/ A Date of Sale N/ A Descrintion and g; amount of loan charnes/concessions to be naid bv seller N/ A
Lender/Client Estate of Erbv Weller Address 60 Mountain Lane Newbura. Pa 17240
Aooraiser Tim L.Ausherman GAA Address 229 North Second Street Chambersbura. Pa 17201
Location 0 Urban [J Suburban cg] Rural Predominant Single family housing Present land use %
PRICE AGE .
Built up [J Over 75% [J 25-75% cg] Under 25% occupancy $(000) (yrs) One family 20
Growth rate D Rapid cg] Stable D Slow cg] Owner 95 100 Low new 2-4 family
Property values cg] Increasing [J Stable D Declining D Tenant 5 650 Hioh 100 Multi-family
Demand/supply D Shortage cg] In balance D Over supply cg] Vacant (0-5%) li,'..nil Predominant Vii::i8 Commercial
Marketino time n Under 3 mos. [Xi 3-6 mos. n Over 6 mos. n Vac.lover 5%) 200 30 Vacant
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics: Bounded by mountains to the north, Roxbury to the west, Newville to the east and Shippensburn to the
south.
~ Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
U Subiect property is located within and area is a mix of scattered sinale familv homes land in woodland and for aariculuml use. Overall appeal
.. to the market would be considered as aood. Emplovment stablitv is nood with the current unemplovment rate approx. 4 %. Area is within easy
access to shoppina and emplovment in the Shippensburq area.
Land use change
cg] Not likely D Likely
[J In process
To:
80
Market conditions in the SUbject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time
__ such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions within the area continue to be steady however marketina time has increased to over 3 months. Demand and supplv appears
to be comina more in balance. Overall market conditions have slowed.
_ Project Information for PUDs (If applicable) - -Is the developer/builder in control of the Home Owners' Association (HOA)? DYes D No
. Approximate total number of units in the subject project Approximate total number of units for sale in the subject project
Describe common elements and recreational facilities:
Dimensions Irreqular Topography Rollinq
Site area 4.70 acres Corner Lot DYes cg] No Size Above averaqe
SpecifiC zoning classification and description Aari-residential Shape Irreqular
Zoning compliance cg] Legal [J Legal nonconforming (Grandfathered use) D Illegal D No zoning Drainage Adequate
Hinhest & best use as imnroved: rX1 Present use n Other use (exolain\ View Averaqe
Utilities Public Other Off-slle Improvements Type Public Private Landscaping Averaqe
Electricity cg] Street asphalt cg] D Driveway Surface qravel
Gas cg] Curb/gutter None D 0 Apparent easements None observed
Water 0 well Sidewalk none D D FEMA Special Flood Hazard ~,rea DYes cg] No
Sanitary sewer [] septic Street lights None ~ ~ FEMA Zone C Map Date 6/1/1989
Storm sewer r><1 AIIev None I I I I FEMA Man No. 4215810002A
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): No adverse
easements or encroachments were observed. Wells and Septic systems are common in the area.
GENERAL DESCRIPTION
No. of Units 1
No. of Stories 1
Type (Det./Att.) Detached
Design (Style) Ranch
Existing/Proposed existinq
Age (Yrs.) 34
Effective Aoe (Yrs.) 15
ROOMS Fover
:- Basement
I Level 1
- Level 2
~
n Finished area above made contains:
INTERIOR Materials/Condition
- Floors cpt,vinyl/avq
Walls drywall panel/ava
Trim/Finish wood/avq
Bath Floor vinyl/avq
Bath Wainscot fiberqlas/avq
Doors Hollc/avq
EXTERIOR DESCRIPTION
Foundation Block
Exterior Walls Brick
Roof Surface asphalt
Gutters & Dwnspts. alumn
Window Type Obi huna
Storm/Screens yes
Manufactured House no
Dinino Kitchen
FOUNDATION
Slab No
Crawl Space yes
Basement yes
Sump Pump no
Dampness no
Settlement no
Infestation none evid
Familv Rm. Rec. Rm. Bedrooms # Baths
BASEMENT
Area Sq. Ft. 1 ,426
% Finished 0
Ceiling joists
Walls block
Floor concrete
Outside Entry yes
INSULATION
__ Roof __ D
Ceiling ~~ cg]
Walls _~ cg]
Floor ~~ cg]
__ None __ D
Unknown D
--
Livino
Den
Laundrv
Other
Area So. Ft.
1 426
1 597
area
3
2
6 Rooms' 3 Bedroom(s):
HEATING Hpump KITCHEN EQUIP. ATIlC
Type Hpump Refrigerator [eJ None
Fuel elec Range/Oven [eJ Stairs
Condition ava Disposal D Drop Stair
COOLING yes Dishwasher cg] Scuttle
Central ves Fan/Hood cg] Floor
Other no Microwave D Heated
Condition ava Washer/DrYer n Finished
Additional features (special energy efficient items, etc.): All brick exterior, fireplace in Iivinq room.
D
D
D
r71
~
D
R
2 Bath's):
AMENITIES
Fireplace(s) #
Patio patio
Deck None
Porch Porch
Fence None
Pool none
1 597 Souare Feet of Gross Livino Area
CAR STORAGE: 2
none 0 None D
[.8J Garage
D Attached
[.8J Detached
o Built-In
o Carport
n Drivewav
# of cars
2
4
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.:
nronertv is in aood condition no adverse factors were observed.
Subject
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the
immediate vicinity of the subject property.: No adverse environmental conditions were observed on the subject properly or within the neiahborhood.
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1004 6/93
Subject Photo Page
Estate of Erb Weller
194 Peebles Road
Newbur
Estate of Erb Weller
Coun Cumberland
I Pane #41
State Pa
Zi Code 17240
Subject Front
194 Peebles Road
Sales Price N/A
Gross Living Area 1 ,597
Total Rooms 6
Total Bedrooms 3
Total Bathrooms 2
Location Average
View Average
Site 4.70 acres
Quality Stone & Vin/avg
Age 34
Subject Rear
Subject Street
tnrm DlrOIY c::o _ 1I\A1inTnTAIII o:Jnnr'lic:''.:J1 c:'nft\U']ro h\l '] I"] mnno in,.. _1_Ann_AI AUnnt:
Comparable Photo Page
Estate of Erb Weller
194 Peebles Road
Newbur
Estate of Erb Weller
Coun Cumberland
I Pace #51
State Pa
Zi Code 17240
Comparable 1
12861 Sandy Mount Rd
Prox. to Subject 7.94 miles SW
Sale Price 2H9,000
Gross living Area 1,296
Total Rooms 6
Total Bedrooms 3
Total Bathrooms 2
Location Average
View Average
Site 7 Acre Avg
Quality Brk al/avg
Age 34
Comparable 2
15096 Paxton Run Rd
Prox. to Subject 3.77 miles SW
Sale Price 300,000
Gross living Area 1 ,848
Total Rooms 8
Total Bedrooms 3
Total Bathrooms 2.5
Location Average
View Average
Site 18.8 AlAvg
Quality E1rk al/avg
Age 34
Comparable 3
4855 Orrstown Road
Prox. to Subject a.73 miles SW
Sale Price 299,000
Gross living Area 'I ,740
Total Rooms ()
Total Bedrooms :1
Total Bathrooms 2
Location Average
View j~verage
Site ~i Acre/avg
Quality Brk al/avg
Age 40
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I Paqe #61
Bdrrower/Client Estate of Erbv Weller
Property Address 194 Peebles Road
City Newbura County Cumberland State Pa Zip Code 17240
Lender Estate of Erbv Weller
Building Sketch
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Form SKT.BldSkl- "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
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Properly Address 194 Peebles Road
City Newbura County Cumberland State Pa Zip Code 17240
Lender Estate of Erbv Weller
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Form MAP,LOC - "WinTOTAL" appraisal software by a la mode, inc, -1.800.ALAMODE
.
I Paae #61
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions
requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this
definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) IJuyer and seller are
typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed
for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price
represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with
the sale.
* Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary
for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable
since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the
comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the
property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession
but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the
appraiser's judgement.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following
conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that
the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible
ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist
the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted
in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes
no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do
so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These
separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic
substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing
the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or
adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and
has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The
appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such
conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an
environmental assessment of the property.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be
reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other
parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or
alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report
(including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal
organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage
insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality
of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data
collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also
be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
Freddie Mac Form 439 6-93
Page 1 of 2
Fannie Mae Form 1004B 6-93
Ausherman Bros. Real Estate Inc.
Form ACR - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
I Paae #71
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property
for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant
variation. If a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce
the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made
a positive adjustment to increase the adjusted sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not
knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the
appraisal report are true and correct.
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent
and limiting conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with
respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market valuH in the appraisal report
on the race, color, religion, SHX, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present
owners or occupants of the properties in the vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this
appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate,
the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I
did not base the appraisal report on a requested minimum valuation, a specifiC valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal
Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those
Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value
and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the
reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report.
I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate
vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that
I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional
assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and
disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform
the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take
no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that:
I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,
agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.
ADDRESS OF PRDPE.R}rISED: 194 P"blos Road , N,wb"" Pa 17240
::::14/ff
Name: ~r~~~
Date Signed: 3-27-2007 ........,-
State Certification #: Ga-000149-L
or State License #:
State: Pa
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only if required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
o Did
o Did Not Inspect Property
Freddie Mac Form 439 6-93
Page 2 of 2
Fannie Mae Form 1004B 6-93
Form ACR - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
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11
-
---t