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HomeMy WebLinkAbout05-07-08 --.J 15056041125 REV -1500 EX (06-05) PA Department of Revenue '* Bureau of Individual Taxes INHERITANCE TAX RETURN PO BOX 280601 Harrisburg, PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death OFFICIAL USE ONLY County Code Year 2 1 0 7 File Number o 8 1 7 Date of Birth 16848 253 9 082 4 2 0 0 7 12221922 Decedent's Last Name Suffix Decedent's First Name B LOU G H SOP H I A MI T (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 [Z) 1. Original Return D 4. Limited Estate [Z) 6. Decedent Died Testate (Attach Copy of Will) D 9. Litigation Proceeds Received D 2. Supplemental Return D 4a. Future Interest Compromise (date of death after 12-12-82) D 7. Decedent Maintained a Living Trust (Attach Copy of Trust) D 10. Spousal Poverty Credit (date of death D 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number D D 1 3. Remainder Return (date of death prior to 12-13-82) 5. Federal Estate Tax Return Required 8. Total Number of Safe Deposit Boxes GAR Y JIM B L U M E S QUI R E 717 2c)38 7~52 ~O ag,.J::J II .- REGISTE~~~~SU-SE~LY-EB t3 .,oQ, ~ -< ("'.j3 -0 I l.r::>"" J .'::cl b '''-;;- - :0 nt-j "'r, p, C/) ^ -.J :X-p L:) .---:-" 00 (--:i~ c..... ;:;) 0 Ii ~ " ill -~Fl 'J C .... _', .-, r-1 :,.. ~ N.. ;~:; (~ '-s: f"n - \..-:J '-r1 DATE FILED Co.) Firm Name (If Applicable) K 0 D A KIM B L U M P C First line of address P 0 S T 0 F F ICE BOX 1 184 8 Second line of address 407 NOR T H FRO N T S T R E E T City or Post Office State ZIP Code H A R R I S BUR G P A 17108 - 1 8 4 Correspondent's e-mail address:Qarv.imblum@verizon.net Under pena~ies of pe~ury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true rrect and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIG AU E OF PERS N SPO I FOR fiLING-RETURN DATE NEW CUMBERLAND PA 17070 DATE SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE ADDRESS PLEASE USE ORIGINAL FORM ONLY Side 1 L 15056041125 15056041125 -....Jct --.J 15056042126 REV-1500 EX Decedent's Social Security Number Decedent's Name: SOPHIA T. BLOUGH RECAPITULATION 168482539 1. Real estate (Schedule A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1. 12500000 2. Stocks and Bonds (Schedule B) 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3. 4. Mortgages & Notes Receivable (Schedule D) ........................ 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ....... 5. 6. Jointly Owned Property (Schedule F) D Separate Billing Requested . . . . . " 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) D Separate Billing Requested. . . . . .. 7. 3 7 5 0 0 0 8. Total Gross Assets (total Lines 1-7) ........................... 8. 12875000 1626879 1 7 2 3 0 5 9. Funeral Expenses & Administrative Costs (Schedule H) . . . . . . . . . . . . . . .. 9. 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) . . . . . . . . . . . . 10. 11. Total Deductions (total Lines 9 & 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. 1799184 11075816 12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . 12. 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . 13. 14. Net Value Subject to Tax (Line 12 minus Line 13) . . . . . . . . . . . . . . . . . . 14. 1 1 0 7 5 8 1 6 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 _ 0 0 0 15. 0 0 0 16. Amount of Line 14 taxable 1 1 0 7 5 at lineal rate X .012- 8 1 6 16. 4 9 8 4 1 2 17. Amount of Line 14 taxable 0 0 0 at sibling rate X .12 17. 0 0 0 18. Amount of Line 14 taxable 0 0 0 at collateral rate X .15 18. 0 0 0 19. Tax Due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 4 9 8 4 1 2 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT D Side 2 L 15056042126 15056042126 --.J REV-1500 EX Page 3 Decedent's Complete Address: DECEDENT'S NAME SOPHIA T. BLOUGH STREET ADDRESS 1195 LETCHWORTH ROAD ---.----- -------- File Number 0817 CITY CAMP HILL I I STATE I PA ZIP 17011 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2, Credits/Payments A. Spousal Poverty Credit S, Prior Payments C, Discount (1 ) $4,984.12 $4,350.00 $217.50 Total Credits ( A + B + C) (2) $4,567.50 3. Interest/Penalty if applicable D, Interest E, Penalty T otallnterestlPenalty ( D + E ) (3) 4, If Line 2 is greater than line 1 + line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 5, If Line 1 + line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) $0.00 $0.00 $416.62 A. Enter the interest on the tax due. S, Enter the total of Line 5 + 5A. This is the BALANCE DUE. (SA) (5B) $416.62 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 ~ b. retain the right to designate who shall use the property transferred or its income; ............................... D ~ c. retain a reversionary interest; or ..................................................................................... ........... D lKJ d. receive the promise for life of either payments, benefits or care? ....................................................... D ~ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? ..................... .................................................................. D 00 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? ......... D 00 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? .................................................................................................. D ~ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1. 1995. the tax rate imposed on the net value of transfers to or for the use of the 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 exemot a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax retum are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P,S. ~9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 p,S, 99116(1.2) [72 P.S. ~9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1502 EX + (6-98) * SCHEDULE A REAL ESTATE COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER SOPHIA T. BLOUGH 0817 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 compel/ed to buy or selt, both having reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH $125,000.00 1195 LETCHWORTH ROAD LOWER ALLEN TOWNSHIP CUMBERLAND COUNTY, PA (SEE APPRAISAL ATTACHED) TOTAL (Also enter on line 1, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 125.000.00 , . IFile No. 00005071 Paae #1 at 181 Form GA2_LT -"WinTOTAL" appraisal software by a la mode. inc. -1-80Q-ALAMODE Robert Ensminger Appraisers IFile No. 00005071 Pace #2 of 181 RESIDENTIAL APPRAISAL SUMMARY REPORT Property Address: 1195 Letchworth Rd City: Camp Hill .;:.:. County: Cumberland legal Description: Deed Book 20 W Paae 536 U Assessor's Parcel #: 13~23-0545-080 .~. Tax Year: 2007 R.E. Taxes: $ 1 378.51 Sj!ecial Assessments: $ None Known Borrower (if applicable: 0, Current Owner of Record: Estate of Sophia T. Blouah Occupant: [J Owner 0 Tenant [gJ Vacant .f/J. Proiect Tvoe: [l PUO [J Condominium 0 Cooperative ] Other (describe) HOA: $ Market Area Name: Lower Allen Township Map Reference: 25420 The purpose of this appraisal is to develop an opinion of: ~ Market Value (as defined), or [J other type of value (describe) This report reflects the following value (if not Current, see comments): IX] Current (the Inspection Date is the Effective Date) [ ] Retrospective [ ] Prospective ~. Aooroaches developed for this appraisal: (81 Sales Comparison Approach [J Cost Approach 0 Income Approach (See Reconciliation Comments and Scope of Work) ~. Property Rights Appraised: ~ Fee Simple D leasehold [lleased Fee [J Other (describe) .~. Intended Use: Estate purposes. iii ~ Intended User(s) (bv name or type): The executrix of the estate Ieaal counsel and taxina authorities. No other user is intended. Client: law OffICes of Kodak & Imblum Address: 407 N. Front Street Harrisbura, PA 17101 Appraiser: Robert A Ensminger Address: 3557 Elmerton Ave.. Harrisburg, P A 17109-1132 I.. Location: U Urban ~ Suburban U Rural Predominant One-Unit Housing Present Land Use Change in Land Use Built up: ~ Over 75% D 25-75% 0 Under 25% Occupancy PRICE AGE One-Unit 85 % [gJ Not Likely ~ Growth rate: 0 Rapid r:8J Stable 0 Slow lZl Owner $(000) (yrs) 2-4 Unit 7 % 0 likely * 0 In Process * i= Property values: 0 Increasing r:8J Stable 0 Declining 0 Tenant 100 Low 40 Mu~i.Unit 3 % * To: ~ Demand/supply: 0 Shortage ['gJ In Balance 0 Over Supply lZl Vacant (0-5%) 225 High 100+ Comm'l 5 % ~ Marketing time: ~ Under 3 Mos. 0 3.6 Mos. 0 Over 6 Mos. 0 Vacant (>5%) 160 Pred 55 % ~. Market Area Boundaries, Description, and Market Conditions (including support for the above characteristics and trends): The marketing area is the West Shore ~ area of Harrisburg which includes Camp Hill, Lemoyne, New Cumberland and the eastern part of lower Allen Township. The reaion typically ad does not experience the dislocations of economic slowdown, due primarily to the stabilizing effects of the state and federal govemments which .~ make up almost 25% of the reaional work force, however, an increase in interest rates and-other market factors could strip away recent price ~. gains. Interest rates have remained fairly steady. Demand is still strono for homes in this area, however, marketina times are increasino which cr indicates a slowdown of market activity. The region is not followina the national trend of decreasino prices. rather prices are increasing sliahtly <( 2 over last year's level. Fife No.: 0000507 State: PA Zip Code: 17011-7516 ] Manufactured HOUSing ] per year 0 per month Census Tract: 42041-0109.00-2 ./ Dimensions: 55 x 120 Site Area: 0.15 Acres A Zoning Classification: R-1 Description: Residential . Zoning Compliance: ~ Legal 0 Legal nonconforming (grandfathered) 0 Illegal ii. Are CC&Rs applicable? l J Yes l J No ~ Unknown Have the documents been reviewed? 0 Yes lZl No Ground Rent (if applicable $ ,:; Highest & Best Use as improved: lZl Present use, or 0 Other use (explain) [J No zoning / . Actual Use as of Effective Date: Residential Use as appraised in this report: Residential Summary of Highest & Best Use: The subject meets the four tests of hiahest & best use. It is Ieaally permissible, phvsically possible, economically feasible. and provides the greatest economic return. t:l Utilities Public Other Provider/Description Off-site Improvements Type Public Private := Electricity l'8J 0 PP&L Street Asphalt IZI 0 9 Gas I2J 0 UGI Curb/Gutter Concrete 0 r:8J [@.. Water I2J 0 PA American Sidewalk Concrete 0 IZI ..~ Sanitary Sewer ~ 0 Lower Allen Twp Street lights Sodium Vapor ~ 0 ~t Storm ~ewer ~ 0 lower Allen Twp Allev I None 0 0 "~~ Other Site elements: ~ Inside Lot [ Corner Lot 0 CUI de Sac r ] Underground Utilities [J Other'(describe) ~. FEMA Spec'l Flood Hazard Area 0 Yes [8J No FEMA Flood Zone C FEMA Map # 4210160002B FEMA Map Date 9130/1977 :'#;. Site Comments: There are no apparent easements. encroachments. or other conditions which would have an adverse effect on the value of the -I subject property. A title search, which is beyond the scope of this appraisal. has not been conducted to discover easements of record. ~f Topography Size Shape Drainage View Level Averaae for the area Rectangular Averaae for the area Averaae for the area c~ General Description Exterior Description Foundation f!! # of Units 1 0 Acc.Un~ Foundation Concrete Block Slab N/A ffi # of Stories ~ Exterior Walls Brick & Alum. Crawl Space N/A ~ Type [gJ Det. 0 Att. 0 Roof Surlace Fiberglas Shingles Basement 100% ~. Design (Style) 2 StOry Detached Gutters & Ownspts. Aluminum Sump Pump 0 ~. I2?J Existing 0 Proposed 0 Und.Cons. Window Type Double Huna Dampness 0 :! Actual Age (Yrs.) 57 Storm/Screens Yes Settlement No Evidence T Effective Age (Yrs.) 20 Infestation No Evidence Basement 0 None Area Sq. Ft. 468 % Finished 50 Ceiling Susoended Walls Panel Floor Tile Outside Entry None Heating Type fuel FWA Gas CoolIng Central Other Window units ~RESIDENTlAL Copyright<O 2007 by a la mode. Ille. ThIS loan may be reproduced unmodKied without written permission. however. a Ia roode, 1fIC. must be acknowledged and credited. Form GPRES2..LT - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE 3/2007 ; . IFile No 00005071 Paoe #3 of 1 BI "RESIDENTIAL APPRAISAL SUMMARY REPORT Interior Description AppHances Attic U None Amenities yt;" Floors Hardwood Refrigerator 0 Stairs 0 Fireplace(s) # None ~. Walls Plaster Range/Oven [gj Drop Stair 0 Patio Covered ! Trim/Finish Wood Disposal 0 Scuttle C8J Deck $ Bath Floor Vinvl tile Dishwasher 0 Doorway 0 Porch Screened is;, Bath Wainscot Fiberalas FarVHood 0 Floor 0 Fence ,~ Doors Wood Microwave 0 Heated 0 Pool f!' Washer/Dryer 0 Finished 0 ~ Finished area above arade contains: 5 Rooms 2 Bedrooms r: Additional features: StoraQe shed in rear yard. > o << IL ~ Describe the condition of the property (including physical, functional and external obsolescence): The subject property is in an overall fair condition. Routine ~. maintenance has been neglected and interior and exterior painting is necessary. In one bedroom the floor boards and subfloor have been cut z out and the floor joists are exposed. The subfloor is to be replaced. the floor leveled and replacement of the hardwood with currently available S materials so the flooring matches in the entire room. Estimated cost to complete this proiect is $3.500. Q;. << o fh w a File No: 0000507 Car Storage 0 None Garage # of cars ( 1 Tot.) Attach. Detach. Bit-In - Carport -1- Driveway _ Surface Concrete Ribbons 936 Square Feet of Gross living Area Above Grade ;r SALES COMPARISON APPROACH TO VALUE {if developed [J The Sales Comparison Approach was not developed for this appraisal. _ !\; FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 :;} Address 1195 Letchworth Rd 104 N. 21 st St. 15 Creek Rd. 307 Norman Rd. ..... CamoHiII PA17011~7516 Camp Hill PA17011 CamoHiII PA17011 CamoHiII PA17011 (' Proximity to Subject .... 1.24 miles NW 0.57 miles SW 0.17 miles SE .............. Sale Price $ N/A r .' $ 135 500 .......... $ 146 000 ,SalePrice/GLA $ /SQ.ft.$ 109.27/sQ.ft. ....$ 121.26/sQ.ft. ". \<<<$ 112.93/SQ.ft. ,. Data Source(s) Inspection MLS MLS MLS '" Verification Source(s) Public Records Public Records Public Records Public Records <'0 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + (-) $ Adiust. DESCRIPTION + (-l $ Adiust. DESCRIPTION ..... Sales or Financing Cash or Equivalent Conv-CostHelp -5,400 Conventional Conv-Cost Help Concessions 5 DOM 9 DOM 100M Date of Sale/Time f1J!J of 9/20/2007 3/30/2007 4/26/2007 7/27/2007 Riohts Aooraised Fee Simole Fee Simole Fee Simole Fee Simole Location Suburban/Ava. Suburban/Ava. Suburban/Ava. Suburban/Aw. :< Site 0.15 Acres 0.14 Acres 0.16 Acres 0.13 Acres ~ View Averaae Average Averaae Averaae ~. Desion (SMe) 2 StOry Detached 2 Storv Detached 2 StOIV Detached . 1.5 Storv ~ Quality of Construction Br&AVAveraae VinvVAveraae Br&Vin/Averaae Br&AVAveraae ra Ace 57 100 +/- +1 00061 56 ICOndition Fair Averaae -6000 Above Averaae -12.000 Averaae \oE Above Grade Total I Bdrmsl Baths TotaJlBdrmsl Baths Total I Bdrmsl Baths Total I Bdrmsl Baths Q;!RoomCount 5121 1 51311.5 -2.00061.31 1 -10006/31 1 · Gross lMoo Area 936 sa.fl. 1.240 sa.fl. -4 600 1.204 sa.tt. -4 000 1 284 sa.1l r~f Basement & Finished Full Basement Full Bas~ment Full Basement Full Basement Rooms Below Grade Part. Finished Unfinisl1~d +500 Unfinished +500 Part. Finished Functional Utility Averaae Averaae Averaae Averaae HeatinalCooling GFWAJWindow OFWNCentral -2.000 GFWAlWindow GFWAJWall units Enerav Efficient ~ems Storm Units Storm Units Storm Units Storm Units Garaae/Caroort 1 Car Carnort 1 Car Detached -1 500 None +1 500 1 Car Detached PorchlPatiolDeck Screened Porch Porch. Patio Screened Porch Porch FireDlaces None None Gas Fireolace -1 500 None Other Features 5" Other Features .' Woodstove(s) # 1 Bath(s) '-< ~~:~:1~~~IJ f<'.C': - hi~a: -200ooM+ ~. $ it, 115,500\.. iO~'% $ -16500~$ 129,500_$ $ 145. + (-) $ Adiust. ~2,500 -6,000 -1.000 -5.200 -1.500 -16 200 cJ:1 RESIDENTIAL Copyright@ 2007 by a fa mode. inc. This form may be reproduced unmodified withoot written permission, however. a fa mode. inc. must be acknowledged and credited. Form GPRES2_lT - "WinTOTAL" appraisal software by a la mode, inc. -1-aoQ-ALAMODE 3/2007 128800 , , IFile No. 00005071 PaGe #4 of 181 'RESIDENTIAL APPRAISAL SUMMARY REPORT File No : 0000507 .' Summary of Sales Comparison Approach All of the comparable sales are detached homes located within 1.25 miles of the subiect. Condition ,;,'( adiustment reflects the condition of the subiect with deferred maintenance and missing portion of the bedroom floor. The comparables ;f: establish the range of value for the subiect property. , ' '~:':"'~ .=S- CD ::J C - c: o ~ :1:. (.) ~ o oc: Q. Q. '< Z o tn DC ~ ~ o U tn W ..J ~ tn . 2. Indicated Value by Sales Comparison Aooroach $ 125,000 t:;" My research 0 did (8J did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. ~ Data Source(s): Cumberland County Tax Assessment Offj~e g L--l~!J~rLor Subject Sale/Transfer . Analysis of sale/transfer history and/or any current agreement of sale/listing: There are no known recent sales or tn Date: listings of the subject property. ~.. Price: w Source(s): ~ 2nd Prior Subiect Sale/Transfer z :~ Date: t- Price: ;tiiJ Source{s): COST APPROACH TO VALUE (if develooed) IXJ The Cost Approach was not develooed for this appraisal. Provide adeQuate information for replication of the fallowing cost figures and calculations. Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value): f:;~1 ESTIMATED r 1 REPRODUCTION OR r 1 REPLACEMENT COST NEW Source of cost data: Qualitv ratina from cost service: Effective date ottost data: Comments on Cost Approach (gross living area calculations, depreciation, etc.): OPINION OF SITE VALUE ................................................................ =$ DWELLING So.Ft. @ $ ....... =$ 5o.Ft. @ $ ....... =$ 5o.Ft. @ $ ....... =$ So.Ft. @ $ ....... =$ So.Ft. @ $ ....... =$ ....... =$ ....... :::$ ....... =$ So.Ft. @ $ [,;; '::- .~ .... .: : ' I External I :::$( '............................,.............., =$ ..................... ....................... :::$ =$ =$ Years INDICATED VALUE BY COST APPROACH ............ _. __................. =$ GaraClVCarport Total Estimate of Cost.New Less Physical I Functional Deoreciation I Deoreciated Cost of Improvements "As-is" Value of Site Improvements . ,.... ~+ II Estimated Remaining Economic life (if required): cJ:1RESIDENTIAL CopyrighlC 2007 by a Ia mode, IIlC. This form may be reproduced unmodKied Without written permission. however, a la mode, inc. must be acknowtedged and credUed. Form GPRES2JT - 'WinTOTAl. appraisal software by a la mode, inc. -1-80Q-ALAMODE 3/2007 , . IFile No 00005071 Pace #5 of 181 RESIDENTIAL APPRAISAL SUMMARY REPORT J: INCOME APPROACH TO VALUE (if develooed) L2<J The Income Approach was not developed for this appraisal. (J. Estimated Monthly Market Rent $ X Gross Rent Multiplier =$ Indicated Value by Income Approach < Summary of Income Approach (including support for market rent and GRM): 0 ~ a. a. c( w 2 0 (,) ~ PROJECT INFORMATION FOR PUDsllf aoolicable) [ J The Subject is part of a Planned Unit Development. Leaal Name of Proiect: . Describe common elements and recreational facilities: a ::3 a. . Indicated Value by: Sales Comparison Approach $ 125,000 Cost Approach (if developed) $ Income Approach (if developed) $ Final Reconciliation All aooroaches to value were considered. The cost aooroach and the income aooroach were deemed not to be aoorooriate in establishing the value of the subject prooerty and were not utilized in the oreoaration of this reDOrt. . - z 0 i= - < This appraisal is made ~ "as is", 0 subject to completion per, plans and specifications on the basis of a Hypothetical Condition that the improvements have been ::i {) completed, 0 subject to the following repairs or alterations on the basis of a Hypothetical Condition that the repairs or alterations have been completed, 0 subject to z the following required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair: This aporaisal is made 0 (J in as is condition. Estimated value subject to Hypothetical Condition that the bedroom floor has been professionally repaired is $128.500 w a:: -.; o This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda. Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions, k< and Appraiser's Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject ._",~,{. of this report is: $ 125,000 , as of: 9/20/2007 , which is the effective date of this appraisal. j:;:.ti If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda. en A true and complete copy of this report contains --1!L pages, including exhibits which are considered an integral part of the report. This appraisal report may not be f-o z. properly understood without reference to the information contained in the complete report. w :E Attached Exhibits: . J:. ~ Scope of Work I25J limiting Cond/Certifications o Narrative Addendum ~ Photograph Addenda ~ Sketch Addendum v S ~ Map Addenda o Additional Sales o Cost Addendum ~ Flood Addendum o Manuf. House Addendum o Hvoothetical Conditions o Extraordinarv Assumotions 0 0 0 .~! Client Contact: Gary Imblum, ESQuire Client Name: Law OffICeS of Kodak & Imblum ~,~}( E-Mail: aarv.imblum@verizon.net Address: 407 N. Front Street Harrisbura. PA 17101 _:~~1. APPRAISER SUPERVISORY APPRAISER (if required) I or CO-APPRAISER (if applicable) .., ,'.-. I (~ I r::r AwmK~~ '~);~ W w a:: Supervisory or ;:). ~ Co-Appraiser Name: ~ Company: Robert Ensminger Appraisers Company: C) Phone: (717) 652-4111 Fax: (717) 835-0638 Phone: Fax: 'w E-Mail: robert@ensmingers.net E-Mail: Date of Report (Signature): 10/1/2007 Date of Report (Signature): f License or Certification #: RL000952l State: PA License or Certification #: State: - - .,..C>(,; Designation: PA Certified Residential Real Estate Aporaiser Designation: ~::~ Expiration Date of License or Certification: 6/30/2009 Expiration Date of License or Certification: :l Inspection of Subject: IZIlnterior & Exterior 0 Exterior Only o None Inspection of Subject o Interior & Exterior o Exterior Only o None Date of Inspection: 9/20/2007 Date of Inspection: cJ:lRESIDENTIAL RIe No: 0000507 CopyrightC 2007 by a Ia mode. inC. ThIS lorm may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. Form GPRES2.JT - "WinTOTAl" appraisal software by a la mode, inc. -1-80o-ALAMDDE 312007 , . IFile No 00005071 Pace #6 of 181 Assum tions & Limitin Conditions Pro e Address: 1195 Letchworth Rd Client: Law OffICeS of Kodak & Irnblurn Appraiser: Robert A. Ensrni er STATEMENT OF ASSUMP110NS & LIMITING CONDITIONS _ The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the tttle to tt. 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. _ The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land Survey was not performed. -If so indicated, 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 Rood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. _ 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. _ If the cost approach is included in this appraisal, 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. Unless otherwise spec~ically indicated, the cost approach value is not an insurance value, and should not be used as such. _ The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, 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. Unle$s 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, but not limited to, 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 n6t be considered as an environmental assessment of the property. ' _ 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. _ The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, state or local laws. -If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner. _ An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party aCQuiring this report from the client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of the assignment. _ The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database. _ An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive visual inventory that is, not intended to reveal detects or detrimental conditions that are not readily apparent. The presence of such conditions or detects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate. File No.: 0000507 Ci : earn Hill State: PA Zi Code: 17011-7516 Address: 407 N. Front Street Harrisbur PA 17101 Address: 3557 Elrnerton Ave. Harrisbur P A 17109-1132 ~RESIDENTlAL CopyrigltC 2007 by a la mode. inc. This form may be reproduced unmodKied without written permission. however, a Ii mode. ile. must be acknowledged and credited. Form GPRES2ADLT - .WinTOTAL" appraisal software by a la mode. inc. -1-SOD-ALAMODE 312007 ~ , . IRle No 00005071 Pace #7 of 18/ Definitions & Sea e of Work Pro e Address: 1195 Letchworth Rd Client: Law OffICes of Kodak & Imblum A raiser: Robert A Ensmi er DEANmON OF MARKET VALUE *: Market value means 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 and knowledgeably, and assuming the price is not affected by undue stimulus. Implictt in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. Buyer and seller are typically motivated; 2. Both parties are well informed or well advised and acting in what they consider their own best interests; 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. * This definition is from regUlations published by federal regulatory agencies pursuant to Title XI of the Rnanciallnstitutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. Fde No.: 0000507 Ci : earn Hill State: PA Zi Code: 17011-7516 Address: 407 N. Front Street Harrisbur PA 17101 Address: 3557 Elmerton Ave. Harrisbur P A 17109-1132 The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of ho~ acquired, by any party or for any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions. Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.): / Cf~RESIDENTIAl CopyrightC 2007 by a /a mode, inc. This fonn may be reproduced unmodified Wittlout written pemlission, however, a Ia mode. IIC. must be acknowladged and credfted. Form GPRES2AD_LT - .WinTOTAl" appraisal software by a la mode, inc. -1-80G-ALAMODE 3/2007 . ...... -.,...._c'<' '~",~,"'~',-.O'" """!"'.+'l'1"':"'''I'''-"1''"'~'7"':r,'"- .-~...~., ,. .... ,~..,...,.,....--...,....: ,'-'..~~--.", -><~..-, .,........ --~-~ IFile No. 00005071 Paoe #8 of 181 Certifications Pro e Address: 1195 Letchworth Rd Client: Law Offices of Kodak & Imblum A praiser: APPRAISER'S CERTIACATION I certify that, to the best of my knowledge and belief: - The statements of fact contained in this report are true and correct. - The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. - I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. -I have no bias with respect to the property that is the subject of this report or to the parties involved with this-assignment. - My engagement in this assignment was not contingent upon developing or reporting predetermined results. - My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. - My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Unnorm Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. -I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the SUbject property, or of the present owners or occupants of the properties in the vicinity of the subject property. - Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. - Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification. File No.: State: PA Address: 407 N. Front Street Harrisbur PA 17101 Address: 3557 Elmerton Ave. Harrisbur , PA 17109-1132 Zi Code: 17011-7516 Client Name: Law Offices of Kodak & Imblum Address: 407 N. Front Street Harrisbur PA 17101 SUPERVISORY APPRAISER (if required) or CO-APPRAI~ER (If applicable) ~R#-!~ Company: Robert Ensminger Appraisers Phone: (717) 652-4111 Fax: (717) 835-0638 E.Mail: robert@ensmingers.net Date Report Signed: 10/1/2007 License or Certification #: RL000952L State: Designation: PA Certified Residential Real Estate Appraiser Expiration Date of License or Certification: 6/30/2009 Inspection of SUbject: ~ Interior & Exterior 0 Exterior Only 0 None Date of Inspection: 9/20/2007 C!nlRESIDENTIAL Supervisory or Co-Appraiser Name: Company: Phone: E-Mail: Date Report Signed: ~ License or Certification #: Designation: Expiration Date of License or Certification: Inspection of Subject: 0 Interior & Exterior 0 Exterior Only 0 None Date of Ins ection: Copyr9ltC 2007 by a Ia mode. inc. This Ionn may be reproduCed unmodil'led without wrillen permission. however, a Ia mode. i'lc. must be acknowledged and cr8dIIe8. Form GPRES2AO_LT- 'WinTOTAL" appraisal software by a la mOde, inc. -1-80G-ALAMODE 312007 Fax: State: . . Subject Photo Page IFile No 00005071 Paae #9 ot 181 State P A Zi Code 17011-7516 Subject Front 1195 Letchworth Rd Sales Price N/A Gross Living Area 936 Total Rooms 5 Total Bedrooms 2 Total Bathrooms 1 Location SuburbanlAvg. View Average Site 0.15 Acres Quality B r&AVAve rage Age 57 Subject Rear SubJect Street Form LPICPIX.DSS LTR - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE :$~' '~ ~ -- "..';<-~~' -- ~~-,-, --" -.-,:.-;t;.:o-;-,.',~1;J,-."A'''i'='' ~_.,:,~,\,.,...--"",-, - ';"~,,'lf'''' ---,,"" ,,-..-,',-- --.'-,,'..- . . IFile No 00005071 Paae#10 of 181 Subject Photo Page Coun Cumberland State P A Zi Code 17011-7516 Subject Front 1195 Letchworth Rd Sales Price NJA Gross living Area 936 To~IRooms 5 To~1 Bedrooms 2 T o~1 Bathrooms 1 Location SuburbanlAvg. View Average Site 0.15 Acres Quality Br&AIJAverage Age 57 Subject Rear Subject Street Form LPICPIX.DSS.JTR - "WinTOTALH appraisal software by a la mode, inc. -1.80o-ALAMODE . , Subject Interior Photo Page IFile No. 00005071 Paoe #11 of 181 State PA Zi Code 17011-7516 Living Room 1195 Letchworth Rd Sales Price NJA Gross living Area 936 Total Rooms 5 Total Bedrooms 2 Total Bathrooms 1 Location SuburbanJAvg. View Average Site 0.15 Acres Quality Br&AVAverage Age 57 Dining Room Kitchen Form LPICPIX.DSS.LTIR - .WinTOTAL' appraisal software by a la mode, inc. -1-SOD-ALAMOOE , . IRleNo 00005071 Pace #12 of 181 Subject Interior Photo Page State P A Zi Code 17011-7516 Bedroom #1, 1195 Letchworth Rd Sales Price N/A Gross living Area 936 Total Rooms 5 Total Bedrooms 2 Total Bathrooms 1 Location SuburbanlAvg. View Average Site 0.15 Acres Quality Br&AVAverage Age 57 Bedroom #2 Form LPICPIX.DSSLTIR - .WinTOTAL" appraisal software by a la mode, inc. -1--800-ALAMODE .,..-r :.t:~;~ ,;:'.~ :\i~:,'\;;~~;", '," '\"';~,"'-, "....~~~";: c:;~~~ .,' ,'r-.""'" h Building Sketch IFile No OQ005071 Paae#13 of 181 104r SlDr800 ;- C... I :- ~dP~ ,1 rJlio,J 2'5.31' " $"," <> Kilchen ~ Co/port ~ : :! lMng Room :! DirW1g Room 10.4r 25.33' 25.33' S"," B.o_ : SlllRgo & UIIily Port F"1IliIlhed : :! :! 25.33' -..-"'" Cou Cumberland State PA Zi Code 17011-7516 2533' SlID B_ : .. :! B_om ; Bodroom 25.33' _~.__4&_ COIT1Il1Ints: AREA CALCULATIONS SUMMARY : CodIt DMcnpIon Net.. .NetT" GLAl Fir.t Floor 468,10 46B.l0 GU2 Second F100r 468.10 468,10 BSMI.' aa.-t 468.10 468.10 pIp aer....c Porch 114.8. 114.84 GAR Garage 242.90 242. !lO i / Net LIVABLE Area (Rounded) 936 LMNG AREA BREAKDOWN s-IIdGwn 8uIIeDI* Fint Floor 18.48 x 25.33 468.10 s.-nd Floor 18.48 ~ 25.33 468. 10 .'. 2 Items (Rounded) 936 Form SKT _LT.BldSkl- wWinTOTAL. appraisal software by a Ia mode, inc, -1-SOO-ALAMOOE IFile No. 00005071 Pace #14 of 181. Location Map Coun Cumberland State PA Zi Code 17011-7516 "4 ". .. 'ft. \ " .".;~ .. ", "\.. f" "" .. .......,. " . .. ij ., .,.~"\ '" ..~ ... "10 .. --. \,~ ~..... ,#....t ,..- /"'" .. " " .,; ./ /1/ ... // j/ .- ,,"/" , ~ ~-~, -~~,,~,.,.......,.. ,;/// -. ~;:~:::::::-:/'~'-'~;' ../'., ~-------\. ./ /' _. ./"I: q ,....,. ... '\ "'& .+ ~ "', '\. ~ ...,.-- ! 1 c.-.. _ ....... ...... "" ,~ ~/~ /.,. ,!'" 0..... .. -... \ <t '", .,'" ...... ..,.-'" \ 1. '," i ,--. ....- ..... ............... ,.;' ,/" / /' '''t ., ,,"" ._014 \ \ q '; ,. . 'I ..".., ... ....... ~. ., 1 ~.. """",,1Io .,-- ~-<I. tfIII'~ ~ .-"" "'*... l " ...,..- \ I I i ,I \ 1. ",- ;;:r '"'- , I 1 Form MAP _LT.LOC - "WinTOTAL" appraisal software by a la mode, inc. -1-80G-ALAMOOE , . IFile No, 00005071 Pane #15 of 181 Flood Map Cou Cumberland State P A Zi Code 17011-7516 o InterFlood~~_ www.lnterflood.com · 1.800-252-6633 Prepared for: Robert Ensminger Appraisers 1195 Letchworth Rd Camp Hill. PA 17011-7516 @ 199U-2007 SourceProse and/or Floo<ISource Corporations. J4I rights I!:served. Palents 15.831,3215 and 15,1578.1516. Other p<nents pending. For Into: into~..Oora. Form MAP _ L T.FLOOD - 'WinTOTAL' appraisal software by a la mode, inc. - 1-80Q-ALAMODE IFile No. 0000507[ PaGe #16 of 181 h Supplemental Addendum File No. 0000507 Coun Cumberland State P A Zi Code 17011-7516 Clarification of Assumptions, Limiting Conditions, Certifications and Scope of Work On the page six of this Appraisal Report, the Scope of Work is defined. The following comments exoand the Scope of Work to include any additional research or analysis necessary, based on the complexity of this specific appraisal assignment. The scope of work explanations discussed here and within the body of the report further define, clarify and document what the appraiser did [or did not do] in order to develop the appraisal and report the value opinion, based on the complexity of this appraisal assignment and/or as a result of a supplementary Agreement or Enoaoement letter * as accepted by the appraiser, Robert A. Ensminger and his client, law Offices of Kodak & Imblum. * If no written specific and or supplemental Scope of Work was agreed upon with the client (prior to accepting the assignment, by formal enaaaement letter and included in this report) the Scope of Work outlined here and within the report, is considered to be representative of what typical users of appraisal services would require and in general, what appraisers would provide as reasonable, acceptable and sufficient for the stated intended user's needs. COMPLETE VISUAL INSPECTION: It should be noted that the Appraiser conducted a visual inspection of only the readily accessible areas of the property, viewing only those components of the property which were clearly visible from the ground or floor level. No tests we made of the mechanical, plumbing and electrical systems as such tests are not within the standard guidelines of FNMA or FHLMC. Comments on the condition of the foundation, roof, exterior, interior, floors, mechanical, plumbing, electrical, insulation and all other matters relating to the construction of the subject property is based on a casual observa~ion only and which may have been limited by the placement of personal property, furnishings, etc. so as to preclude observation of the items blocked by same. There was not observation of the attic, crawl space or other areas that would not be visible by the typical visitor to the home and components that are hidden within walls. Although the report may cite a general rating of the adequacy and or condition (based on observation only) it should be clearly understood that these statements are a general guide for comparison purposes (as part of the valuation process) and are not a detailed report on the physical and or operational condition of these items. The appraiser(s) is not an expert in these matters and any opinion stated is advisory based only upon observation. This report is not a home inspection. While others may choose to rely on the report. they should not rely on it to disclose condition and defects. Such knowledge goes beyond the scope of this appraisal and as such, comments on observed conditions given in this report should not be taken as a guarantee that a problem does not exist. The following chart is to assist the intended user in understanding the scope of a complete visual inspection: Radon Assessment "Inspection the neighborhood- was limited to driving through the area and a representative number of streets, reviewing maps and other appropriate data including observing the comparables from the street, to determine the general factors that mayor may not influence the value of the subject property and research to the extent further defined in the sections below. Form TAOO_LT - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMOOE IFile No. 00005071 Paae #17 of 181 Supplemental Addendum File No. 0000507 Cou Cumberland State PA Zi Code 17011-7516 REPAIRS I DETERIORATION: An effort was made to report those repair items that, in the appraiser's opinion, will affect safety. adeauacv. and marketability of the property. Deterioration consistent with the age of the home has not been itemized. COST APPROACH: The cost approach is typically utilized when improvements are new, near new or are of an unusual construction method. Additionally, the cost approach is only considered appropriate when sufficient land or building sites are available to a potential purchaser so as to make construction of improvements similar to the subject a viable alternative to purchasing the subject. In areas where vacant sites (similar to the subject property in location, zoning, use and utility) are not available to a potential purchaser, use of the cost approach and reliability on the same as a value indicator could be misleading. In cases where the Cost Approach is not required (per USPAP) or deemed necessary to the development of a reliable value opinion, the cost approach has been excluded and such exclusion has been so stated with the body of the report. If the cost approach was used it represents the "replacement cost estimate," and is for "valuation purposes only. " As such, it should not be relied upon for insurance purposes. The definition of "market value" on page 7 of this report is not consistent with the definition of "insurable value." If the cost approach was presented, a cost service such as "Marshall & Swift" (or other similar source) was used to develop the estimate. The site value opinion is based on one of several methods: extraction, allocation, the developmental method or from a review and analysis of sales of similar sites within the market area. - INCOME APPROACH: The income approach is typically developed when sufficient"investor owned properties exist with the subject's immediate area or neighborhood and when investors regularly acquire such properties that are similarly desirable to the subject for the express purpose of the investment income they provide. While rental properties may exist within any area, their existence alone should not be considered as evidence of a viable rental and investor marketplace. As such, in areas dominated by "owner occupied" units, it may not be appropriate to present or employ the income approach, unless the approach clearly represents the motivations and actions of investors in the marketplace as it relates to the subject property and immediate area. If the approach is included within the report, it was because sufficient data was found to support conclusions by the appraiser(s) that it was appropriate and meaningful to the analysis and value opinion. If the approach was not included, it was the appraiser's opinion that the data was insufficient to provide a useful and meaningful conclusion. EXTENT OF OAT A RESEARCH - SALES/LISTINGS: Sales and listings of the subject property and comparables have been researched, verified, analyzed, and reported. Sales data (including listed, closed, pending and expired listings) of properties that are geographically, physically, functionally and economically similar to the subject property and that are sufficiently recent to reflect current buyer and seller actions were researched and considered. If necessary and applicable, the appraiser also researched data on comparable land and improved sales, income and expense information and construction costs; confirmed comparable sales information (as noted under uEXTENT OF INFORMATION VERIFICATION;"(see next section)) and analyzed the information in applying the approach(es) used. Depending upon the availability and reliability of various data sources, the appraiser(s) used any combination of reasonably available information from city/county records, real estate agents, owner's comments, buyer's description, assesso~s records, multiple listing service (MLS) data, brochures, web site Iist~gs and visual observation to identify the relevant characteristics of the subject property. Com parables were selected based on physical, functional, economic and location cha~teristics with the sales cited in the report considered to be most relevant to the analysis of subject property. These sales were adjusted to the subject to reflect the markers reaction to differences (if any). " EXTENT OF INFORMATION VERIFICATION: Representative samples of disinterested sources for information and data verification include but are not limited to County/CitylTownship online records - Recorder of Deeds, Treasurer, Zoning, GIS, Online Assessor Property Databases, and the Appraiser's electronic and paper files gathered in the ordinary course of business. Information includes sales history, property characteristics, personal observation of condition, location, physical attributes, real estate transaction declaration documents, sale date, and personal property included in a safes transaction. In addition, the subject's market area was examined to determine the demand for and marketability of the property within the subjecfs classification. When and where possible, the applicable information was verified with sources deemed to be reliable and from a disinterested party or corroborated with a 3rd party source. In some cases, the motivations of the parties and other factors (terms, arms-length transactions, etc.) may not have been available and the Form TADOJ T - .WinTOTAL. appraisal software by a la made. inc. - 1-80Q..ALAMODE IRle No. 00005071 Pace #18 of 181 Supplemental Addendum File No. 0000507 Coun Cumberland State P A Zi Code 17011-7516 data was used at "face value as factually accurate. W The appraiser was not supplied with a survey of the subject site and did not check the land records for recorded easements. Only readily apparent and observable easements and encroachments have been reported. Unless otherwise stated within the report, no effort has been made to ascertain whether the subject is located within the appropriate setbacks, as dictated by zoning, building or other regulations. ADVERSE NEIGHBORHOOD FACTORS: While some in the market may consider factors such as drug labs, registered sex offenders, criminal activity, interim rehabilitation facilities, halfway houses or similar uses as "adverse," unless cited within the report, the appraiser has made no attemot to investigate or discover such activities as part of this assignment, unless such factors were readily apparent and obviously impacting the subject property as evidenced by market data. If the intended user has concerns in these areas. it is hiahlv recommended that they secure this information from a reliable source. _ DISCLOSURE I DISTRIBUTION: Regardless of who paid for this assignment, the intended user is only the client stated within the report. The appraisal and report may be inappropriate for use by parties other than the intended user and could place them at risk. Despite the means of possession of the report, this appraisal should not be used or relied on by anyone other than the stated intended users and for the stated I intended purpose. The Intended User of this appraisal report is the Client. The Intended Use is to evaluate the property that is the subject of this appraisal for personal reasons, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and the Definition of Market Value. The nature of the assignment may infer Additional Users of this report. Examples would be where this appraisal is to be used for (a.) legal purposes whereby the client's attorney and authorized court personnel become users of this report on behalf of the client; and (b.) estate purposes whereby the client's attorney and authorized taxing authorities become users of this report. This report is copyrighted by Robert A. Ensminger, @ 2007 and may be registered in the U.S. Copyright Office. Any reproduction, electronic or otherwise, of analyses, drawings, contents, representations or opinions of value made in this report for purposes other than those stated in this report, is not permitted. THE VALUE OPINION: The value opinion stated in the report is based on my analysis as of the effective date shown in the report. The value opinion considers the productivity, economic and physical conditions of the property only asof the effective date of this appraisal. As market conditions change, this value opinion may not be valid in another time period. Personal property such as furnishings, equipment or other items that may be included with a sale or transfer of the property were excluded from the value unless such items are necessary for the operations of the property (garage door remotes, pool filters, etc) and would normally be a part of the mechanical or operational equipment that is considered realty. ./ Form TADD_LT - "Win TOTAL" appraisal software by a la mode. inc. -l-80o-ALAMOot .; ..:f ct";=:~}r~*tlaf >:.~ ~{' '? f:~J~ 3fi:tiO "BuresH ofPw-OfeS5fou8lalld Oceup~tfoftal Af(81r&""'~ ~ '. '. PO Bo~ 264' f:brrabul"J: PA '7105-2649 , . Appraiser's license :( -"..." . , ;:..~ ;,....:-... ;~:t:er1ift~i~ T~~e :.:~i.'.-~. ~ .{", e~Rea~1 AppraRr ,,:;0. ~"'" .'. ,,' ," '~....:..' ~.' <"'.t. '." .~. :~:.~~'" CertifICate i .NuDlller .. . I! <';: ;;;:~*~':.:\;,' ~"'. .'.:~. . ."~. :~ . -. .:~ ROBERT A~R ~ EUlERTON AVENlE ~PA.111et . ',": '" '. .~. :'-.: . .(. .. ,:.". ~. ."" 4 .,.... . . "0>: ~:n""'~' ..~;'>....:' ;;" .:> ..:?",t:::,. :/:':.~:\ :~..L::~:tL "-,:.,.,t. '~~:";,,,:\~' ~ ~1oIIu :;'~~..""';''''o;""",,:'''''1 ^"'. :;~~.::;;':~ ".," .,. ;';t - - .-' .~ . ., ~ ,:". .~. ~ ... J>".~' -,.: ,"; y - :" ';-'4 ~ ~. . .,: .~\:.. ~.crlti1_ Status ~..,'" ;'J;" .:. " .' o. "" .> ','~;.. .t-' '.. Active ,~ . ,.'~.. . . ~ . .' .~..~~' -" ......:..)~:. ",' ...... ' . . : ~. 'q klnb~ cenUtca"':J>ato. ._.,., .:.....~..l... 'I.~ . ., ..... . .;:..t~~'~' O'128I1982:~. '-,.. :.;.1. G ~ .. ~:.~; ~~,~~t::...: Or,.. .Jk.f:,,:,.~y..~. . ~.u.:~ Form SCNLTR - "WinTOTAL" appraisal software by a la mode, inc. -1-SOQ-ALAMODE Appraiser's Curriculum Vitae - Page 1 RESUl\fE ROBERT A. ENSMINGER 3557 ELMERTON AVENUE HARRISBURG, PA 17109-1 I 32 WORK HISTORY 1986 - PRESENT Sole Proprietor Real Estate Broker and Appraiser Established my own appraisal firm fur the purpose of performing Real Estate and Personal Property Appraisals. P A Certified Residential Real Estate Appraiser (1991,) PA Certified Broker Appraiser (1998,) Personal Property Apprasiser. 1984 - 1986 Robert R. Jones, Appraisers 7800 Allentown Boulevard Harrisburg, P A 17112 . Real Estate Appraiser and Associate Broker Duties were the appraisal of real estate including single fiunily residential and small residential income properties. Other appraisals included vacant land, farms and small commercial properties. Narrative and form type appraisals were performed along with limited supervision of other appraisers. 1979 - 1984 Jack Gaughen, Realtor 4401 LingJestown Road Harrisburg,PA 17112 Real Estate Salesman Duties were the listing and selling of real estate. 1978 - 1979 York - Stallman Wholesale Company 1131 Roosevelt Avenue York, P A 17404 General MMlAgf!r Duties \vere the day to day operam~ of this wholesale candy and tobacc;o distributor and included supervision of 30 employees and inventory control of over 4,000 items. ' / 1973-1978 ConunonweaIth of Pennsylvania Department of Revenue, Bureau ofField Audits' Harrisburg, P A 17127 Field Auditor Duties were auditing tax accounts in the areas of Cigarette and Beverage taxes, Sales taxes and Liquid Fuels taxes. Form SCNLTR - "WinTOTAL" appraisal software by a la mode. inc. -1-80Q-ALAMOOE Appraiser.s Curriculum Vitae - Page 2 RESUME OF ROBERT A. ENSMINGER - PAGE 2 EDUCATION 1973 graduate of West Virginia University. Morganto\\n, WV with Bachelor of Science I Business Administration (AccolUlting.) Courses included 36 semester hours of accounting, 30 hours of economics, and other courses in business law, marketing, management, insurance and real estate. Education Division of Don Paul Shearer. Inc. Camp Hill, PA 1979 - Real Estate Fundamentals 1993 - Mandatory Continuing Education (Appraisers & Brokers) 2001 - Appraising Unique Properties, Contemporary Legal Issues, Tax Assessment Law, Real Estate Tax Appeals in PA, USPAP & State Appraiser Law 2003 - Land Valuation & Development, Professional Liability & A vioding Pitfillls 2005 - New Appraisal Forms Penn Institute. Inc. Lancaster, PA Dale Carnege Sales Course Realtors@ National Marketin~ Institute Chi<::ago. IL RS-1O I, Marketing Techniques Penn~ania Association ofRealtors@ Harrisburg, FA Realtors Institute - Course I . Realtors Institute - Course II Emplovee Relocation Council Washington, DC 1987 - Relocation Appraisal Seminar 2007 - Relocation Appraisal Training Program Ap.praisal Institute Chicago, IL 1991 - Course 101, lntro. to Real Estate Appraising 1991 - Standards of Professional Practice - Part A 1991 - Standards of ProfessionaJ Practice - Part B 1993 - Appraisers Legal Liability Seminar Polley Associates Media, P A' 1994 - FHA Appraisers Roster Seminar . 2000 - Technology Update & Mandatory Continunig Education i ReaJtors$ Association of Yode & idams Counties York, PA 1995- Appraisal Standards and Ethics 1997- Continuing Education Courses, 2005 - P A Appraisal Regulations, Introduction to relocation Appraisals~ 'Comments & Explanations in Appraisal Reports. The case for Hypothetical Conditions and Extraordinary Assumptions 2007 - P A appraisal Regulations: Federal Banking Regulations; Flips, Fraud & Foreclosure~ National USPAP Course Form SCNlTR - *WinTOTAl* appraisal software by a la mode, inc. -1-SOO-ALAMOOE Appraiser..s Curriculum Vitae - Page 3 RESUME OF ROBERT A. ENS~nNGE.R - PAGE 3 EDUCATION (Continued) Harrisbl.1r~ ReaJtors@ Institute Camp Hill, P A 1996 - Continuing Education 1997 - Continuing Education 1998 - Continuing Education - USP AP & P A Law 1998 - Principles of Construction, Intro. to Commercial Appraising 1999 - Expert Witness Course 2002 - Appraisal & Real Estate Fraud 2003 - Law and Order: USP AP & P A Regulations, Appraiser Beware: Environmental & Stigma Issues National Association of Independent Fee Aopraisers Las Vegas, NV 2005 - National Unifonn Standards ofProressional Appraisal Practice Course INSTRUCTION Greater Harrisburg Association of Realtors 1990 Orientation Course Instr~ctor 1990, 1991, 1992 & 2000 Appraisal Seminars Pennsylvania Auctioneers Associ<ltion 1995 - Group Discussion Leader - Antiques Roundtable 1996 - Coins and Jewehy at Auction 2002 - 2006 - Contnbuting author, The Keystoner magazine, 'The Auctioneer's Tool Box" and others 2006 - ''The Auctioneer)s Tool Box - Live Demonstration" 2007 - "Coins - A Panel Discussion" Moderator and Contributor SOFnNAREDEVELOPMENT alamode. inc. 3705 Memorial Dr.. Oklahoma City. OK 2001 - Present - Beta-testing and development of real estate appraisal software used by over 50,000 real estate appraisers nationwide. 2003 - Atl~ GA - Regional Training Conference 2004 - Phoenix, Az. - Regional Training Confi=rence 2005 - 2006 - 2007 - Las Vegas, NV. Annual C~ntion, Training Seminars and Beta Testers Summit Meetings 2007 - Philadelphia, ;~ A - Regional Training Conrerence / / Apex Software 6363 DeZavala Blvd San Antonio TX ", 2006 - Beta testing hardware and softwarefbr mobile sketching solutions ror the appraisal, assessor, inspection and insurance industries. 2006 - Las Vegas NV - Beta seminar 2006 - San Antonio TX - In depth training Form SCNL TR - .Win TOTAL. appraisal software by a la mode, inc, -- 1.800-ALAMODE Appraiser~s Curriculum Vitae - Page 4 RESUME OF ROBERT A. ENSMINGER - PAGE 4 LICENSES Pennsylvarua Real Estate Broker - License # RB-Q4SSS0-A Expires 5/31/08 Pennsylvania Residential Appraiser - Cert. # RL-000952-L Expires 6/30/09 Pennsylvania Brokerl Appraiser - Cert. # BA-004224-L Expires 6/30109 Pennsylvania Auctioneer - License # AU-002520-L Expires 2/28/09 EXPERT WITNESS U.S. Bankruptcy Court Dauphin County Cumberland County Perry County York County Adams County Lebanon County Blair County ASSOCIATIONS American Fraternity of Rea! Estate Appraisers National Auctioneers Association Pennsylvania Auctioneers Association Penbrook Lions Club REFERENCES (With pennission) Harry L. Bricker, Jr., Esquire 407 N. Front Street, Harrisburg, PA 17101 (717)233-2555 Robert S. Hamilton., Broker I Owner, ReMax Realty Professionals 1250 Mountain Road, Harrisburg, PA 17112 (717)652-4700 David A Potts, Appraisal Manager, Ameriquest Mortgage 4301 Woodcrest Lane Camp Hill,PA 17011 (717)763-4123 Others by request. /' Form SCNLTR - "WinTOTAL" appraisal software by a la mode. inc. -1.80O-ALAMOOE REV-15GB EX + (6-98) .. SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SOPHIA T. BLOUGH FILE NUMBER 0817 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH $750.00 CASH ON HAND 2. PREPAID BURIAL LOT $1,500.00 3. MISCELLANEOUS PERSONAL PROPERTY AND FURNISHINGS $1,500.00 TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 3.750.00 REV-1511 EX+(12-99) * SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SOPHIA T. BLOUGH Debts of decedent must be reported on Schedule I. FILE NUMBER 0817 ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: $6,243.92 1. PARTHEMORE FUNERAL HOME 2. LUNCHEON $185.00 3. WOODLAWN MEMORIAL $1,105.00 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative (5) DENISE J. AL TIGIERI -0- Social Security Number(s)/EIN Number of Personal Representative(s) 000-00-6591 Street Address 333 SHARON DRIVE City NEW CUMBERLAND State P A Zip 17070 Year(s) Commission Paid: 2. AttomeyFees KODAK & IMBLUM, P,C. $4,500.00 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 CUMBERLAND COUNTY REGISTER OF WILLS $302.00 5. Accountanfs Fees 6, Tax Return Prepare~s Fees 7. 8. CUMBERLAND LAW JOURNAL (LEGAL ADVERTISING) $75.00 9. WEST SHORE SHOPPER (GENERAL PUBLICATION) $50.00 10. ROBERT ENSMINGER APPRAISERS $400.00 11. GRUBIC'S FLOORING AMERICA (SEE A TT ACHED LETTER) $1,527.54 12. ALEX R. SZELES, INC. (SEE ATTACHED LETTER) $1,098.64 13. DUTY'S LOCK SERVICE $79.56 14. PPL (UTILITY BILLING -- SEE ATTACHED LETTER) $141.73 15. PA AMERICAN WATER (UTILITY BILLING -- SEE ATTACHED LETTER) $127.10 16. UGI (REPAIRS) $100.76 17. UGI (UTILITY BILLING -- SEE ATTACHED LETTER) $332.54 TOTAL (Also enter on line 9, Recapitulation) $ 16268.79 (If more space is needed, insert additional sheets of the same size) REV-1512 EX + (12-03) . SCHEDULE. DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SOPHIA T. BLOUGH FILE NUMBER 0817 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including un reimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. BONNIE K. MILLER, TAX COLLECTOR $10.00 (PER CAPITA TAX) 2. BONNIE K. MILLER. TAX COLLECTOR $999.70 (PROPERTY TAX) 3. LOWER ALLEN TOWNSHIP $84.50 MUNICIPAL BILLING 4. SPRINT $28.88 UTILITY BILLING 5. COMCAST $20.78 UTILITY BILLING 6. PPL $212.77 UTI L1TY BI LLI NG 7. PA AMERICAN WATER $232.67 UTILITY BILLING 8. UGI $133.75 UTILITY BILLING TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 1.723.05 LAW OFFICES OF Robert D. Kodak Gary J. Imblum KODAK & IMBLUM, p.e. CAMERON MANSION 407 NORTH FRONT STREET POST OFFICE BOX 11848 HARRISBURG, P A 17108-1848 kki.law@verizon.net Telephone 717.238.7152 Facsimile 717.238.7158 May 2, 2008 COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN DIVISION DEPARTMENT OF REVENUE RE: Estate of Sophia T. Blough No. 21-07-0817, Orphans' Court Cumberland County, Pennsylvania To Whom It May Concern: Sophia T. Blough died Testate August 24,2007, in her home. Her heirs were her daughter, Denise J. Altigieri and her two grandchildren, Amber Zuna Bishop and Christian Zuna. The terms of her Will were one-third (113) to each. The real estate was appraised at $125,000.00 at the time of death. A copy of the Appraisal is attached hereto. The real estate was sold to one of the heirs, Christian Zuna, at an agreed upon price between the heirs of One Hundred Two Thousand ($102,000.00) Dollars, with the purchase price paid as Sixty-Eight Thousand ($68,000.00) Dollars to the Estate, and a Thirty-Four Thousand ($34,000.00) Dollar credit to the Estate against Christian Zuna's portion of the inheritance. The full value of the appraisal of $125,000.00 was included for tax purposes. As to the safe deposit box, there were only legal papers in the box at the inventory and nothing of any monetary value. As to Schedules H and I, there were extenuating circumstances surrounding the Decedent's death in that she passed away August 24,2007, however, no one knew of her passing until August 28,2007. Further, there was a dog in the house which had been unable to be let outside. Due to these circumstances, a portion of the bedroom hard wood flooring had to be removed to the joists, replaced and finished to match the existing flooring, and the entire house had to be totally fumigated and disinfected. Alex R. Szeles, Inc. and Grubic's Flooring America performed the described services. Additionally, lock service was needed on the exterior doors. Higher utility bills than usual were necessitated by the clean up and disinfecting of the entire premises. This was all work which had to be done prior to even considering how the property could be sold. All other matters contained in the REV-15DD are self-explanatory. further, please do not hesitate to contact this office. Tha ou. RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I. TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1. DENISE J. AL TIGIERI Lineal 333 SHARON DRIVE NEW CUMBERLAND, PA 17070 ONE THIRD 2. CHRISTIAN ZUNA Lineal 1195 LETCHWORTH ROAD CAMP HILL, PA 17011 ONE THIRD 3. AMBER ZUNA BISHOP Lineal 83 SOUTH MAIN STREET, 2ND FL MANCHESTER, PA 17345 ONE THIRD 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 II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ REV_l513EX<(* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SOPHIA T BLOUGH SCHEDULE J BENEFICIARIES FILE NUMBER 0817 (If more space IS needed, Insert additional sheets of the same size) ~ LAST WILL AND TESTAMENT OF SOPHIA T. BLOUGH I, SOPHIA T. BLOUGH, of the Township of Lower Allen Township, ; the County of Cumberland', and the Commonwe~l th of Pennsylvania, being of sound and disposing 'mind, hereby make, publish and declare this my Last will and Testament, hereby revoking and making void all prior Wills and other testamentary writings at any time heretofore made by me. r--.., C) c.:., (- (~, " , I. I direct my Executrix, hereinafter named, to p~~ll ob; my;~::.. >,~ ; :_~~ () r;-; , '," -, debts, funeral and testamentary expenses as ';:~on I as".; '~_~'3 =;.;} 0" :, just conveniently can be done after my demise. " :::-> . ~ - I I ~, I , I _'.J ..., --'j CJ Co,) II. I give, devise and bequeath one-third (1/3) of my eg~ate of whatsoever kind and wheresoever situate, unto my daughter, DENISE J. ALTIGIERI, and the remaining two-thirds (2/3) of my estate, to be divided in equal shares, unto my grandson, CHRISTIAN REON ZUNA and my granddaughter, AMBER ZUNA. III. Should I die before either of'my above-named grandchildren shall attain the age of twenty-eight (28) years, then and only then, I give, devise and bequeath said grandchild's share to DAUPHIN DEPOSIT BANK, IN TRUST, NEVERTHELESS, for the benefit of said grandchild. Said Trustee shall have the following powers: 1 ,.",..~,~:~ -. - - '1:::C;:~~' :::::::"'~~,-"..,.-........: '~:C''''''_~ ~~V"""'. 1. To manage all assets of the Trust for the beneficiaries named above and to pay such income and ,principal as the Trustee in its sole and ,. unfettered discretion deems to be necessary for the / proper maintenance, upkeep, ,'and education of any and all of the beneficiaries as they were maintained before my demise. 2. To retain any property or investments herein transferred and devised In Trust, as long as the Trustee may deem it advisable to do so and to distribute the remainder of the corpus to the then income beneficiaries if, in the Trustee's discretion, the size of the account has become too small to be practical or uneconomical to continue. 3. To vary investments when deemed desirable by the Trustee, and to invest in such bonds, stocks, notes, real estate, mortgages or other securities, including stock in the corporate trustee itself, or in such other property, real or.personal, as said Trustee may deem wise, without being restricted to so-called "legal investments", and without being limited by any statute or rule of law regarding investments by fiduciaries. 2 _..------.__..-_.._-------------~~-- _"-:.~1A4i- _. or= _,_..;...~ -- -~- - 4. To make any division of the principal of the Trust assets or any distribution of th~ assets partly or wholly in kind. If such division or distribution " is made'in kind, said assets are required to be divided and distributed at their respective values on the date or dates of their division or distribution. 5. To sell at public or private sale, and upon such terms and conditions as the Trustee may deem advantageous, any or all real or personal estate or interest therein owned by the Trust, severally or in connection with other persons, and to consummate such sale or sales by sufficient deeds or other instruments to the purchaser or purchasers, conveying a fee simple title, free and clear of all Trusts and without obligation or liability of the purchaser or purchasers to see the application of the purchase money or to make inquiry into the validi ty of said sale or sales; also, to make, exercise, acknowledge and deliver any and all deeds, assignments, options or other writings which may be necessary or desirable, in carrying out any of the powers conferred upon the Trustee in this paragraph or elsewhere in this instrument. 3 . ....... , . ',,- ~ ....- 6. Until any distribution is actually made or paid over to any beneficiary, all ~rincipal and income passing in accordance with the terms of this Trust , shall b~ free of any debts, contracts, alienation, assignment's, encumbrances or /~nticipations of any beneficiary and the same shall not be subject or liable to any levy, attachment, execution or sequestration while in the possession of the Trustee. 7. To pay all costs, taxes, expenses, compensation and charges in connection with the administration and termination of the Trust. 8 . To do all other acts ih the Trustee's judgment deemed necessary or desirable for the proper and advantageous management, investment and distribution of the Trust assets. 9. Compensation for the corporate Trustee for services performed hereunder shall be in accordance with the fee schedule in effect for estates when the services are rendered. 4 >'<j~tt~~. , '_~,__.....:.;: ..... .."...-'li...... "'!'i<<, -,-,~,.t. '......~"....". " =..,.,;'~~~~~ 10. This Trust shall be governed by. the laws of the Commonwealth of Pennsylvania and its situs shall be Dauphin County, Pennsylvania. / /. 11. This Trust shall be distributed as follows: a. one-third (1/3) when each beneficiary attains the age of twenty-one (21) years; and b. one-half (~) of the remainder when each beneficiary attains the age of twenty-five (25) years; and c. the~0tal remainder shall be distributed when each beneficiary attains the age of twenty- eight (28) y~ars. d. If either of the above-named grandchildren shall not survive until distribution of the total remainder of the trust, that grandchild's share of the estate shall go to the surviving grandchild. IV. Should there be any property of whatsoever kind and wheresoever situate of which I have the right to dispose of at the 5 ....,-,-~" . ".....~~.-..-... ...-..~___~_..oL'- --.......-~ ~ ~JfC,;.:.,;-t,:;..::je . time of my death, including but not limited to any special or general power of appointment or both, I hereby appoint the same to my legatees as set forth in Paragraph II hereof. V. I nominate, constitute and appoint ~y daughter, DENISE J. ALTIGIERI, as Executrix of this, my Last Will and Testament and further direct that she shall serve without bond. VI. Said Executrix shall have the power to discharge all the debts, liens and encumbrances upon my estate, as well as any taxes thereon, to pay for the cost of the final disposition of my remains and final illness, if any, to receive any and all commissions and other compensation for services rendered by me during my lifetime and to perform any and all fiduciary duties authorized by statute. Further, I direct my Executrix to preserve my estate and any instructions pertaining to the distribution of the same from any attachment or anticipation while in the hands of my said personal representative, it being my express intent that all legacies shall be free from any attachment or anticipation while in the hands of the accountant for my estate. VII. I request my Executrix to use GARY J. IMBLUM, ESQUIRE, of KNUPP & KODAK, P.C., Harrisburg, Pennsylvania, as attorney for my estate, he being familiar with my affairs. 6 ~ I Tr~~1r:~~ . . . IN WITNESS WHEREOF, I have to this, my Last Will and Testament, typewritten on seven (7) pages of paper, set my hand and G. I -r;~ f ./ .... I: <~" seal at the end thereof this ri day of 1996. / so~~;J;~'~B~~~...~vi (SEAL) SIGNED, SEALED, PUBLISHED AND DECLARED by the above-named Testatrix, SOPHIAT. BLOUGH, as and for her Last Will and Testament in the presence of us who, at her request, in her presence and in the presence of each other, all being present at the same time, have hereunto set our hands as witnesses. d~ -.bod. ( SEAL) ~~;. ,., I/" . l ? , \ eJrvV""",\,, ' ,.1Cf~ ( SEAL) 7 .,.~~,:' -'~,.'-~.-:.:. .~=,.....~ . . COMMONWEALTH OF PENNSYLVANIA: :SS: COUNTY OF DAUPHIN I, SOPHIA T. BLOUGH, Testatrix, whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will and Testament; that,I signed it willingly; and that I signed it as my free and voluntary act""+or the purposes therein expressed. / , 5 i!!~ -r B. )~~ S~HI~' T. BLOUGH F Sworn to and subscribed before me this ~ 1\ D day of Dt.TDB E. E.. , ~996. (SEAL) ~ ~. ~~t N€ia Public - . My Commission Expires: COMMONWEALTH OF PENNSYLVANIA ~ SS : . M;~~E~~!iir%~~\~~:;:;g;;;~~~".., . COUNTY OF DAUPH IN : -t .) --" ----,-.:..~:-.:.::~.:.,.J I. L' tv ArJeV j. L;+TC\ A~ c~. . WE, I-OIS lJ4u ( \ ' , the witnesses whose \ names are signed to ,the attached or foregoing ~nstrument, being duly\qualified according to law, do depose and say that we',were present and saw SOPHIA T. BLOUGH, Testatrix, sign and execute the ~'n8trument as her Last Will and Testament; that she signed willingly and -~~t~8he executed it as her free and voluntary act for the purposes ::i~~erein expressed; that each of us in the hearing and sight of the .~.8tatrix signed the Will as witness, and that to the best of our ~owledge, the Testatrix was a~ that time 1~ or more years of age, of -:',".ound ~nd and under no constral.nt or' undue J.nfluence. NOT!\ntAL SE~L JOYC~ C. fiNDLEY. f~ct:!~v F'i.~~;;:: H;,.m$t:E!'~I. Dauphifi (,Dvr~y My Ccmmi~::::!an Expire-, t;::::~:z 2h:r'] I I f ! t ! I I l: ~~.;J1~ . (t CL ~~; Ei ) .~. ~s' , o)J.iI'v,: ":: :7 "'E',: ..:'. u (X) . ~ ~ ~ ;S .... 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