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Home My WebLink About93-0601~ t IN RE: : IN THE COURT OF COMMON PLEAS TRUST UNDER THE :CUMBERLAND COUNTY, LAST WILL AND TESTAMENT OF :PENNSYLVANIA FRANCES V. FREISTAK, DECEASED :ORPHANS' COURT DIVISION No. 1993-0601 FAMILY SETTLEMENT AGREEMENT n ~; ~ THIS AGREEMENT, dated this 1st day of July, 2008. ~ n ~ .r„ ' ~ ~ N o WITNESSETH: i ` ~ ~ ce / r l ~~ ~ y. I. THE CIRCUMSTANCES leading up to the execution of this Ag~ei~ent are as follows: w 1. Frances V. Freistak ("Mrs. Freistak") died testate on July 12, 1993, a domiciliary of Cumberland County, Pennsylvania. 2. Mrs. Freistak's Last Will and Testament (the "Will"), dated July 4, 1979, was submitted for probate with the Register of Will Of Cumberland County, Pennsylvania. A true and correct copy of the Will is attached hereto as Exhibit "A," and is incorporated herein by reference. 3. Mrs. Freistak established a trust under Item IV of her Will (the "Trust") for the lifetime benefit of her son, George Robert Freistak. Mrs. Freistak appointed her son, Richard T. Freistak, as the Trustee of the Trust. She directed the Trustee to distribute the income and principal of the Trust as the Trustee sees fit for the use and comfort of George Robert Freistak. Mrs. Freistak also directed the Trustee to distribute to her sons, Richard T. Freistak and Alfred P. Freistak, the balance of the Trust Fund, if any, upon the death of George Robert Freistak. 4. George Robert Freistak died on May 7, 2008. 5. The Trust Fund is invested exclusively with Charles Schwab. The Fair Market Value of the remaining Trust Fund was $230,153.39 as of May 31, 2008. A true and correct copy of the Charles Schwab brokerage account statement is attached hereto as Exhibit "B," and is incorporated herein by reference. 6. The Trustee had filed a First and Partial Account with the Orphans' Court Division of the Court of Pleas of Cumberland County, Pennsylvania (the -1- ;. ~_ _ `.f :.~, ~=-; C.: {'y z t ~~r~ ~ ~ "Court") for the period beginning July 12, 1993 and ending September 30, 2000. The First Account was confirm absolutely by the Court on January 9, 2001. 7. The Trustee has prepared a Second and Interim Account from October 1, 2000 to December 31, 2005 (the "Second Account"). The Second Account is attached hereto as Exhibit "B," and is incorporated herein by reference. 8. The Trustee has prepared a Third and Final Account from January 1, 2001 to May 31, 2008 (the "Third Account"). The Third Account is attached hereto as Exhibit "C," and is incorporated herein by reference. 10. There is no Pennsylvania Inheritance Tax due at this time. All such tax was paid upon the death of Mrs. Freistak. 11. Richard T. Freistak and Alfred P. Freistak (the "Beneficiaries") and the Trustee desire, and are willing to terminate the trust administration without the delay, formality and cost of a court confirmed accountings of the Trustee's Second Account and Third Account. 12. The Beneficiaries and Trustee agree the Trustee will pay the law firm of Keefer Wood Allen & Rahal, LLP the sum of $1,600 for the remaining trust administration costs (i.e., legal fees and costs incurred in preparing this Agreement and the final Federal and Pennsylvania Fiduciary Income Tax Returns, assisting with the distribution of the remaining Trust Fund, and filing this Family Settlement Agreement with the Court). The Beneficiaries and Trustee agree the Trustee will, then, distribute the remaining assets equally between the Beneficiaries; the Trustee is willing to do so provided the Beneficiaries give the Trustee satisfactory release, refunding and indemnification protections. The Schedule of Proposed Final Distributions is attached hereto as Exhibit "D," and incorporated herein by reference. NOW THEREFORE, in consideration of the foregoing and intending to be legally bound hereby, the Beneficiaries, individually and severally, but not jointly, as the remainder beneficiaries of the Trust, for themselves, their heirs, personal representatives, successors, and assigns, hereby do as follows, to wit: A. Represent, warrant and agree that they: (i) Have read and understand this Agreement and confirm the facts set forth above are true, correct and complete to the best of their knowledge, information and belief, and hereby approve the same for all purposes; and, -2- ~ ~ (ii) Acknowledges that they sought the advice of an attorney, prior to executing this Agreement or have voluntarily chosen not to consult with an attorney; and, (iii) Have entered into this Agreement of their own free will and choice without any compulsion, duress or undue influence from anyone. B. Declare that they have had the opportunity to examine the Trustee's Second Account, Third Account and Schedule of Proposed Final Distributions, and based upon such examination (or their decision not to make such an examination), they are satisfied that they have sufficient information to make an informed waiver of their right to formal court accounting and do hereby waive the filing and auditing of the same. C. Approve and direct the Trustee to pay the remaining trust administration expenses (i.e., $1,600 to Keefer Wood Allen & Rahal, LLP for legal fees and miscellaneous expenses). D. Approve the Trustee's Second Account, Third Account and Schedule of Proposed Final Distributions, including but not limited to the distributions to the George Robert Freistak, examined or not, as if the same had been duly filed with and audited, adjudicated and confirmed absolutely by the Orphans' Court Division of the Court. E. Approve and direct the Trustee to distribute the balance of the assets (after payment of the above described administration expenses to Keefer Wood Allen & Rahal, LLP) equally to the Beneficiaries. F. To the extent of the above described proposed final distributions, absolutely, unconditionally and irrevocable release, remise and forever discharge Richard T. Freistak, individually, and in his fiduciary capacity as Trustee of the Trust from any and all manner of action, causes of action, suits, liens, debts, dues, sums of money, accounts, reckonings, bonds, bills, covenants, contracts, controversies, agreements, promises, claims, demands, losses and expenses whatsoever, in any way arising from or concerning the Trust, including any and all expenditures and distributions made in accordance with the Trustee's Second Account, Third Account and Schedule of Proposed Final Distributions or otherwise in accordance with this Agreement. G. To the extent of the above described distributions, agree to indemnify -3- and hold harmless Richard T. Freistak, individually, and in the fiduciary capacities set forth above, with respect to any and all matters or liabilities which they may be subjected by reason of joining in this Agreement, and in carrying out the provision hereof. H. Agree this Agreement is intended to compromise and settle disputed claims, including, without limitations, claims and defenses asserted in connection with the creation, administration and distribution of the Trust. I. Agree that this Agreement constitutes the entire understanding between the Executors and the Beneficiaries (individually and collectively, the "Parties") concerning the subject matter hereof, and supersedes any and all prior written agreements and any and all prior or contemporaneous oral agreements or understanding relating to the subject matter hereof. J. Agree that this Agreement may not be amended, modified, superseded, canceled, renewed or extended, nor may any term or condition hereof be waived, except by a written instrument or document signed by all the parties hereto or, in the case of a waivers, signed by the party sought to be charged therewith. No waiver by any party of the breach of any provision hereof shall be deemed to constitute a waiver of any continuing or subsequent breach of such provision or any other provision hereof. Except as otherwise provided herein, the rights and remedies expressly granted hereunder shall be cumulative with respect to, and shall not be deemed to exclude, any other rights and remedies to which any party shall be entitled at law or in equity. K. Agree that this Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs, successors, assigns, personal representatives, and those who may hereafter claim through any of the Parties. L. Pursuant to 20 Pa.C.S. §3504, in the event of any litigation concerning this Agreement, the Court shall be requested to waive appointment of a guardian and/or trustee ad litem to represent the interest of any minor, unborn or unascertained beneficiaries. M. Agree that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without regard to choice-of-law provisions. The Court shall have exclusive jurisdiction over any action to enforce or interpret the terms -4- • of this Agreement. Richard T. Freistak and Alfred P. Freistak hereby consent to the Court exercising personal jurisdiction over each of them in any action or suit arising out of the enforcement of this Agreement. N. Agree that any references to person or things shall be deemed to refer to such persons or things in the singular or plural and in the masculine, feminine or neuter gender as the context shall require. O. Agree that this Agreement shall be deemed to be severable, so that if any provision hereof shall be determined by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to remain valid and enforceable in accordance with their terms. P. Agree that this Agreement may be executed in multiple counterparts, each of which may contain the signatures of one or more of the Parties, all of which, taken together, shall constitute one and the same document. IN WITNESS WHEREOF, the Parties have placed their hands and seals on the attached Consents to Family Settlement Agreement, with the same to be effective for all purposes as the date first above written. -5- IN RE: : IN THE COURT OF COMMON PLEAS TRUST UNDER THE :CUMBERLAND COUNTY, LAST WILL AND TESTAMENT OF :PENNSYLVANIA FRANCES V. FREISTAK, DECEASED :ORPHANS' COURT DIVISION No. 1993-0601 CONSENT TO FAMILY SETTLEMENT AGREEMENT RICHARD T. FREISTAK, individually and in his fiduciary capacities set forth in the Agreement, hereby consents to the Family Settlement Agreement (the "Agreement'), and acknowledges that a copy of the Agreement, including all Exhibits thereto, has been provided to him. ~c,~.~cdl ~~~ ~tiu~~ RICHARD T. FREISTAK, individually and in his fiduciary capacities set forth in the Agreement COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND On this, the ~ `~* day of July, 2008, before me, the undersigned officer, personally appeared RICHARD T. FREISTAK, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same, in the capacities indicated, as his free and voluntary act for the purposes expressed therein. IN WITNESS WHEREOF, I have set my hand and official seal. Notar Public ~:OMMONWEALTN OF PtNNSYLVANIA NOTARIAL SEAL -6- CYNTHIA J. RULE, Notary PubNc Lemoyne Boro., Cumberland County My Commission 'res F 3, 2012 IN RE: : IN THE COURT OF COMMON PLEAS TRUST UNDER THE :CUMBERLAND COUNTY, LAST WILL AND TESTAMENT OF :PENNSYLVANIA FRANCES V. FREISTAK, DECEASED :ORPHANS' COURT DIVISION No. 1993-0601 CONSENT TO FAMILY SETTLEMENT AGREEMENT ALFRED P. FREISTAK, individually, hereby consents to the Family Settlement Agreement (the "Agreement'), and acknowledges that a copy of the Agreement, including all Exhibits thereto, has been provided to him. a ALFRED P. FREISTAK COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND On this, the 1 ~'~ day of July, 2008, before me, the undersigned officer, personally appeared ALFRED P. FREISTAK, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same, in the capacities indicated, as his free and voluntary act for the purposes expressed therein. IN WITNESS WHEREOF, I have set my hand and official seal. i ,~ ~.~ ~~ Not ` ry Public ~.OMMONWEALTM OF PENNSYLVANIA ~~~~ NOTARIAL SEAL CYNTHIA J. RULE, Notary Public Lemoyne Boro., Cumberland County -7- ( Commission Exgres Febru 3, 20t2 LAST Ni1LL ANU '1'E6'TAMEN'I' ~iIl~Ili I, FRANCES V. FREkSTAY, of the Borough of New Cumberland, Cuml»rl.and County, °ennsylvania, being oI sound mind, memory and understanding, do make and publish this, my Last i7i.ll. and Testament, hereby revoking and mak.i.ng void al]. ~a.rmer. Nlill.s or Codicils by me at any t-ime herei:oFore made. ITE.'.1 I: I direct that- all my just: debts, funeral expenses and taxes be paid from my residuary estate. ITEM II: I give, devise and beyueath the realty, the improvements thereon and my interest in West Shore 1'heatr.e _located at 317-319 Bridge Street, New Cumberland, }.'ennsylvani.a, i_n eyual. shares to my sons, Frank ,?. Freistak, Joseph R. Freistak and Alfred I'. Freistak, conditioned, however, upon payment by the three of them of. the total stun of Fifteen Thousancl ($15,000.00) Dollars to my daughter, Helen h•farie Trepanier, wit.hi.n three (3) years after my death. Should this payment not be made in full duri.nq the three-year period, my daughter shall, upon the expiration thereof, become the owner of an undivided one-fourth "(1/4) interest in the Theatre enterprise and the land and .improvements constructed thereon, and the shares of my sorts shall be reduced to an undi.vi.ded one-fourth (1/4) interest each, similar to that o.f: their sister. ITEh1 III: I specifically devise my residence described as 601 Harding Street, tJew Cumberland, Cumberland County, hennsyl.vania, to my son, Richard T. Freistak, with the provision t.htat my sons, Alfred and George, shall be per.m.itted to reside there rent--£r.ee so long as they wish. ITEM IV: All the rest, residue and remainder of my prop- erty and assets I give, dev.i.se and bequeath to Richard T. .Freistak, r .! , Fran es V. Fre stak y IN TRUST, NGVI!.RTIIELESS, for the use and comfort. o~y son, George Robert Fre.istak. Application of the income and principal shall be within the sole discretion of the 'Trustee, and a1.1. .income and pr..incipal shall be used and expended fvr the k,enef.i-t of my son, George Robert Fre.ist:ak, as the Trustee sees fit. Upon the death of George, should there be any balance remaining i.n t-he 'T'rust Fund, i.t shall he divided eyual].y between Richard T. Freistak and Alfred P. Frei<;taY.. I'TT:['I fir: I hereby appoint as the Executor o.f my est~rte my son, Frank J. Freistak, with no bond required of. such Executor. / IN WITNESS WIIERGOF, ]: have trereunto set my hand and seal this ~ yq day of LJ ~ ~/' .1979. Attest: France:; V. ]'reistak, 7 estatrix Signed, sealed, published and declared by the above Wanted Testatrix, FRANCES V. FREISI'AK, as and for her_ bast Will and Testament, in the presence of us who, at her request, i_n her presence, and in the presence of each other., have hereuni.o sub- scribed our names as witnesses. If`~/n.»,.a.pb~,~p..~~r- XIYYG±W.~~o~4, L- -2- ~URT OF COMMON PLEAS ~ PA ORPHANS' COURT DIVISION SECOND INTERMEDIATE ACCOUNTING OF Richard T. Freistak, Trustee For Frances Freistak T/L7/W Start of Trust: July 12, 1993 Date of Appointment: July 12, 1993 Accounting for the Period: October 01, 2000 to December 31, 2005 Purpose of Account: The above fiduciary offers this account to acquaint interested parties with the transactions that have occurred during his/her administration. It is important that the account be carefully examined. Requests for additional information, or questions, or objections, can be discussed with: Gary E. French, Esq. Keefer Wood Allen & Rahal, LLP P.O. Box 11963, Harrisburg, PA 17108-1963 • Frances Freistak T/U/W Summary of Account Principal Page Receipts 2 $ 187,308.57 Net Gain on Sales or Other Dispositions 3 16,607.22 $ 203,915.79 Less Disbursements: 12 Administrative Expenses $ 9,373.06 Federal & State Taxes 211.58 Fees & Commissions 3,237.10 12,821.74 Balance Before Distributions $ 191,094.05 Less Distributions to Beneficiaries 16 1,077.91 Principal Balance On Hand 17 $ 190,016.14 For Information: Investments Made 18 Unpaid Expenses 23 Unrealized Gains and Losses 23 Income Receipts 24 $ 22,682.14 Net Gain on Sales or Other Dispositions 30 0.00 $ 22,682.14 Less Disbursements: 31 0.00 Balance Before Distributions $ 22,682.14 Less Distributions to Beneficiaries 32 17,679.30 Income Balance on Hand 33 $ 5,002.84 For Information: Investments Made 34 Unpaid Expenses 34 Unrealized Gains and Losses 34 Combined Balance on Hand $ 195,018.98 Page 1 (1) Frances Freistak T/LT/W Receipts of Principal Cash and Cash Equivalents Charles Schwab Money Market Account Total Cash and Cash Equivalents No. of Shares Mutual Funds 2,092.599 Fidelity Puritan Fund 655.933 Invesco Equity Income Fund 2,413.273 Invesco High Yield Fund 1,720.708 Mutual Qualified Fund Class Z 2,485.327 T. Rowe Price Equity Income Fund Total Mutual Funds Total INVENTORY RECEIPTS SUBSEQUENT TO INVENTORY 04/22/2003 2002 federal income tax refund 04/22/2003 2002 state income tax refund Total RECEIPTS SUBSEQUENT TO INVENTORY Total Receipts of Principal • Inventory Value 10101 /2000 45,467.19 $ 45,467.19 Inventory Value 10/01/2000 34,219.60 11,000.00 16,000.00 27,601.50 50, 353.28 $ 2,368.00 299.00 139,174.38 $ 184,641.57 2,667.00 $ 187,308.57 Page 1 (2) • Frances Freistak T/U/W • Gains and Losses on Sales or Other Dispositions of Principal Net Gain 11/30/2000 Capital Gain Distribution Invesco Equity Income Fund Net Proceeds $ 799.52 Inventoried at 0.00 $ 799.52 11/30/2000 Capital Gain Distribution Invesco Equity Income Fund Net Proceeds $ 1.97 Inventoried at 0.00 1.97 12/13/2000 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 4,796.68 Inventoried at 0.00 4,796.68 12/18/2000 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 732.41 Inventoried at 0.00 732.41 12/18/2000 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 241.42 Inventoried at 0.00 241.42 12/18/2000 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 1,404.10 Inventoried at 0.00 1,404.10 03/28/2001 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 994.13 Inventoried at 0.00 994.13 03/28/2001 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 74.56 Inventoried at 0.00 74.56 Net Loss Page 1 (3) • Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 06/22/2001 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ Inventoried at 06/22/2001 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ Inventoried at 09/07/2001 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ Inventoried at 09/07/2001 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ Inventoried at 11/30/2001 Capital Gain Distribution Invesco Equity Income Fund Net Proceeds $ Inventoried at 12/12/2001 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ Inventoried at 12/12/2001 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ Inventoried at 12/14/2001 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ Inventoried at 334.68 0.00 $ 334.68 453.75 0.00 453.75 20.93 0.00 20.93 690.56 0.00 690.56 283.23 0.00 283.23 24.85 0.00 24.85 1,416.64 0.00 20.93 0.00 1,416.64 20.93 Page 2 (4) • • Gains and Losses on Sales or Other Dispositions oi' Principal (Continued) Net Gain Net Loss 12/14/2001 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 1,395.32 Inventoried at 0.00 $ 1,395.32 03/26/2002 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 248.53 Inventoried at 0.00 248.53 06/14/2002 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 54.20 Inventoried at 0.00 54.20 06/14/2002 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 319.88 Inventoried at 0.00 319.88 07/11/2002 Sale 2,413.273 Shares Invesco High Yield Fu nd Sale of 2,413.273 shs Invesco High Yield Fund Inventoried at $ 16,000.00 Net Proceeds 7,481.15 09/19/2002 Sale 655.933 Shares Invesco Equity Income Fund Sale of 655.933 shs Invesco Equity Income Fund (L.T.) Inventoried at $ 11,000.00 Net Proceeds 6,159.21 12/05/2002 Capital Gain Distribution Turner Short Duration Fixed Income Fund Cl. A Net Proceeds $ 46.63 Inventoried at 0.00 46.63 $ 8,518.85 4,840.79 Page 3 (5) • • Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 12/05/2002 Capital Gain Distribution Turner Short Duration Fixed Income Fund Cl. A Net Proceeds $ 18.96 Inventoried at 0.00 $ 18.96 12/18/2002 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 24.85 Inventoried at 0.00 24.85 12/18/2002 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 845.01 Inventoried at 0.00 845.01 12/27/2002 Capital Gain Distribution Dodge & Cox Income Fund Net Proceeds $ 23.47 Inventoried at 0.00 23.47 12/27/2002 Capital Gain Distribution Dodge & Cox Income Fund Net Proceeds $ 16.43 Inventoried at 0.00 16.43 03/27/2003 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 49.71 Inventoried at 0.00 49.71 04/22/2003 Collection 2002 federal income tax refund Collection of 2002 federal income tax refund Net Proceeds $ 2,368.00 Carried at 2,368.00 Page 4 (6) • • Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 04/22/2003 Collection 2002 state income tax refund Collection of 2002 Pennsylvania income tax refund Net Proceeds $ 299.00 Carried at 299.00 09/05/2003 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 104.63 Inventoried at 0.00 $ 104.63 09/05/2003 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 272.04 Inventoried at 0.00 272.04 09/10/2003 Sale 938.086 Shares Federated Income Instl. Share Sale of asset: 938.086 shs Federated Income Instl. Shares (S.T.) Inventoried at $ 10,000.00 Net Proceeds 9,787.38 $ 212.62 09/10/2003 Sale 977.517 Shares Turner Short Duration Fixed Income Fund Cl. A Sale of Turner Short Duration Fixed Income (S.T.) Inventoried at $ 10,000.00 Net Proceeds 9,818.60 181.40 12/12/2003 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 167.41 Inventoried at 0.00 167.41 12/12/2003 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 83.70 Inventoried at 0.00 83.70 Page 5 (7) • • Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 12/12/2003 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 472.21 Inventoried at 0.00 $ 472.21 12/12/2003 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 149.12 Inventoried at 0.00 149.12 03/29/2004 Capital Gain Distribution T. Rowe Price Equity Income Fund Long Term Cap Gains Dist Net Proceeds $ 422.51 Inventoried at 0.00 422.51 09/03/2004 Capital Gain Distribution Fidelity Puritan Fund Long term capital gains distribution Net Proceeds $ 1,130.00 Inventoried at 0.00 1,130.00 09/03/2004 Capital Gain Distribution Fidelity Puritan Fund Short term capital gains distribution Net Proceeds $ 83.70 Inventoried at 0.00 83.70 12/10/2004 Capital Gain Distribution Fidelity Puritan Fund Long term capital gains distribution Net Proceeds $ 230.19 Inventoried at 0.00 230.19 Page 6 (8) Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 12/10/2004 Capital Gain Distribution Fidelity Puritan Fund Short term capital gains distribution Net Proceeds $ 62.78 Inventoried at 0.00 $ 62.78 12/14/2004 Capital Gain Distribution T. Rowe Price Equity Income Fund Long term capital gains distribution Net Proceeds $ 1,043.84 Inventoried at 0.00 1,043.84 12/21/2004 Capital Gain Distribution Mutual Qualified Fund Class Z Short term capital gains distribution Net Proceeds $ 214.57 Inventoried at 0.00 214.57 12/21/2004 Capital Gain Distribution Mutual Qualified Fund Class Z Long term capital gains distribution Net Proceeds $ 1,390.33 Inventoried at 0.00 1,390.33 12/23/2004 Capital Gain Distribution Vanguard Wellington Fund Investor Shares Long term capital gains distribution Net Proceeds $ 1,043.36 Inventoried at 0.00 1,043.36 12/23/2004 Capital Gain Distribution Vanguard Wellington Fund Investor Shares Short term capital gains distribuiton Net Proceeds $ 6.93 Inventoried at 0.00 6.93 Page 7 (g) • • Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 03/29/2005 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 447.36 Inventoried at 0.00 $ 447.36 03/29/2005 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 74.56 Inventoried at 0.00 74.56 06/21/2005 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 27.19 Inventoried at 0.00 27.19 06/21/2005 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 330.55 Inventoried at 0.00 330.55 09/09/2005 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 104.63 Inventoried at 0.00 104.63 09/09/2005 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 899.82 Inventoried at 0.00 899.82 12/09/2005 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 41.85 Inventoried at 0.00 41.85 12/09/2005 Capital Gain Distribution Fidelity Puritan Fund Net Proceeds $ 188.33 Inventoried at 0.00 188.33 Page 8 (10) • Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 12/13/2005 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 2,535.03 Inventoried at 0.00 $ 2,535.03 12/13/2005 Capital Gain Distribution T. Rowe Price Equity Income Fund Net Proceeds $ 248.53 Inventoried at 0.00 248.53 12/28/2005 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 363.24 Inventoried at 0.00 363.24 12/28/2005 Capital Gain Distribution Mutual Qualified Fund Class Z Net Proceeds $ 1,763.73 Inventoried at 0.00 1,763.73 12/28/2005 Capital Gain Distribution Vanguard Wellington Fund Investor Shares Net Proceeds $ 75.10 Inventoried at 0.00 75.10 12/28/2005 Capital Gain Distribution Vanguard Wellington Fund Investor Shares Net Proceeds $ 1,050.29 Inventoried at 0.00 1,050.29 Total Gains and Losses $ 30,360.88 $ 13,753.66 Net Gain $ 16,607.22 Page 9 (11) • Frances Freistak T/U/W • Disbursements of Principal Date Paid Amount Paid Administration Expenses Administration Expenses (Prin) 01/11/2001 Payment of estimated $ 78.50 Pennsylvania income taxes for 4th quarter 2000 Check Number 154 01/16/2001 Payment of estimated 411.00 federal tax for 4th quarter 2000 Check Number 153 03/15/2001 State Fiduciary Income 45.00 Tax for 2000 (Form PA-41) Check Number 157 03/15/2001 First Quarter 2001 91.00 Estimated State Income Tax Check Number 158 03/20/2001 Federal Income Tax for 532.00 2000 (Form 1041) Check Number 156 03/30/2001 First Quarter 2001 544.00 Estimated Federal Income Tax Check Number 159 06/08/2001 2nd quarter 2002 90.00 estimated PA fiduciary income tax Check Number 161 06/12/2001 2nd quarter 2001 esimated 544.00 fiduciary federal income tax Check Number 160 Page 1 (12) Disbursements of Principal (Continued) Date Paid Amount Paid Administration Expenses 09/06/2001 3rd quarter 2001 $ 90.00 estimated state fiduciary income tax Check Number 163 09/12/2001 3rd quarter 2001 544.00 estimated PA fiduciary income tax Check Number 162 05/20/2002 Keefer Wood Allen & 2,944.56 Rahal, LLP - Attorneys' fees Check Number 172 Total Administration Expenses (Prin) $ x.914.06 Other Expenses (Prin) 01/10/2002 United States Treasury $ 544.00 4th quarter 2001 estimated tax payment Check Number 165 01/10/2002 Commonwealth of 90.00 Pennsylvania 4th quarter 2001 estimated taxes Check Number 164 03/12/2002 Commonwealth of 67.00 Pennsylvania 1st quarter 2002 estimated tax payment Check Number 168 03/14/2002 United States Treasury 592.00 1st quarter 2002 estimated tax payment Check Number 170 Page 2 (13) • Disbursements of Principal (Cont:inued) Date Paid Amount Paid Administration Expenses 03/15/2002 United States Treasury $ 190.00 2001 Fiduciary Income tax Check Number 169 06/06/2002 Pennsylvania Department 67.00 of Revenue - 2nd Quarter 2002 estimated tax payment Check Number 174 06/10/2002 U.S. Treasury - 2nd 592.00 Quarter 2002 estimated income tax payment Check Number 173 09/05/2002 PA Department of Revenue 67.00 - 3rd quarter 2002 estimated fiduciary income tax payment Check Number 176 09/10/2002 U.S. Treasury - 3rd 592.00 quarter 2002 estimated fiduciary income tax payment Check Number 175 01/08/2003 PA Department of Revenue 66.00 - 4th Quarther 2002 estimated Check Number 178 01/14/2003 U.S. Treasury - 4th 592.00 Quarter 2002 estimated fiduciary income tax payment Check Number 177 Total Other Expenses (Prin) ~ 3.459.00 Page 3 (14) Disbursements of Principal (Continued) Date Paid Amount Paid Administration Expenses Total Administration Expenses $ x,373.06 Federal and State Taxes PA Dept of Revenue 10/26/2004 $36.00 tax due plus 2.58 $ 38.58 Int & Penalty Check Number 183 03/08/2005 2004 PA-41 Balance Due 173.00 Check Number 184 Total PA Dept of Revenue $ 211.58 Total Federal and State Taxes $ 211.58 Fees and Commissions Fees and Commissions 05/10/2004 Paid KWAR - legal fees $ 1,923.02 per bill Check Number 0180 04/28/2005 Check Number 186 Total Fees and Commissions Total Fees and Commissions Total Disbursements of Principal 1,314.08 $ 3,237.10 $ 3,237.10 ~ 12,821.74 Page 4 (15) Frances Freistak T/U/W • Distributions of Principal to Beneficiaries Distribution Value Geroge R Freistak 02/07/2002 C a s h Distribution of principal Check Number 167 $ 1,077.91 $ 1,077.91 Total Distributions of Principal $ 1,077.91 Page 1 (16) Frances Freistak T/U/W Principal Balance On Hand Valued as of December 31, 2005 Inventory Value Cash and Cash Equivalents Charles Schwab Money Market Account $ 35,785.76 Total Cash and Cash Equivalents 35,785.76 N o. of Shares Mutual Funds 782.473 Dodge & Cox Income Fund 2,092.599 Fidelity Puritan Fund 1,720.708 Mutual Qualified Fund Class Z 2,485.327 T. Rowe Price Equity Income Fund 1,155.438 Vanguard Wellington Fund Investor Shares Total Mutual Funds Total Balance on Hand $ 10,056.00 34,219.60 27,601.50 50, 353.28 32,000.00 154,230.38 $ 190,016.14 Page 1 (17) Frances Freistak T/U/W Information Schedules -Principal Inventory New Investments Value Dodge & Cox Income Fund 09/19/2002 782.473 Shs. Purchased $ 10,056.00 Purchase of 782.473 units Dodge & Cox Income Fund Federated Income Instl. Share 09/18/2002 938.086 Shs. Purchased $ 10,000.00 Purchase of 938.086 Federated Income Instl. Shares Turner Short Duration Fixed Income Fund Cl. A 09/18/2002 977.517 Shs. Purchased $ 10,000.00 Purchase of 977.517 Turner Short Duration E'ixed Income Fund Cl. A Vanguard Wellington Fund Investor Shares 09/10/2003 740.081 Shs. Purchased $ 20,000.00 Purchase of Vanguard Wellington Fund Investor Shares 08/17/2009 415.357 Shs. Purchased 12,000.00 Total New Investments $ s2,o5s.oo Inventory Exchanges and Stock Distribu tions Value Dodge & Cox Income Fund 09/19/2002 782.473 Shs. Purchased $ 10,056.00 Purchase of 782.473 units Dodge & Cox Income Fund 12/27/2002 Cap. gain dist. 0.00 12/27/2002 Cap. gain dist. 0.00 782.473 Shs. On Hand $ 10,056.00 Page 1 ~18~ • Information Schedules -Principal (Continued) Exchanges and Stock Distributions Federated Income Instl. Share 09/18/2002 938.086 Shs. Purchased Purchase of 938.086 Federated Income Instl. SYiares 09/10/2003 (938.086) Shs. Sold Sale of asset: 938.086 shs Federated Income Instl . Shares (:> . T . ) Fidelity Puritan Fund 10/01/2000 2,092.599 Shs. Starting Balance: 12/18/2000 Cap. gain dist. 09/07/2001 Cap. gain dist. 09/07/2001 Cap. gain dist. 12/14/2001 Cap. gain dist. 09/05/2003 Cap. gain dist. 09/05/2003 Cap. gain dist. 12/12/2003 Cap. gain dist. 12/12/2003 Cap. gain dist. 09/03/2004 Cap. gain dist. Long term capital gains distribution 09/03/2004 Cap. gain dist. Short term capital gains distribution 12/10/2004 Cap. gain dist. Long term capital gains distribution 12/10/2004 Cap. gain dist. Short term capital gains distribution 09/09/2005 Cap. gain dist. 09/09/2005 Cap. gain list. 12/09/2005 Cap. gain dist. 12/09/2005 Cap. gain dist. 2,092.599 Shs. On Hand Inventory Value $ 10,000.00 (10,000.00) 34,219.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $ 34,219.60 Page 2 (19) Information Schedules - Principal (Continued) Exchanges and Stock Distributions Invesco Equity Income Fund 10/01/2000 655.933 Shs. 11/30/2000 11/30/2000 11/30/2001 655.933 Shs 09/19/2002 (655.933) Shs Starting Balance Cap. gain dist. Cap. gain dist. Cap. gain dist. On Hand Sold Sale of 655.933 shs Invesco Equity Income Fund (L.T.) Invesco High Yield Fund 10/01/2000 2,413.273 Shs. Starting Balance 07/11/2002 (2,413.273) Shs. Sold Sale of 2,413.273 shs Invesco High Yield Fund Mutual Qualified Fund Class Z 10/01/2000 1,720.708 Shs. Starting Balance 12/18/2000 Cap. gain dist. 12/18/2000 Cap. gain dist. 06/22/2001 Cap. gain dist. 06/22/2001 Cap. gain dist. 12/14/2001 Cap. gain dist. 06/14/2002 Cap. gain dist. 06/14/2002 Cap. gain dist. 12/21/2004 Cap. gain dist. Short term capital gains distr ibution 12/21/2004 Cap. gain dist. Long term capital gains distribution 06/21/2005 Cap. gain dist. 06/21/2005 Cap. gain dist. 12/28/2005 Cap. gain dist. 12/28/2005 Cap. gain dist. Inventory Value $ 11,000.00 0.00 0.00 0.00 $ 11,000.00 (11,000.00) $ 16,000.00 (16,000.00) 27,601.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Page 3 (20) • Information Schedules -Principal (Continued) Exchanges and Stock Distributions Mutual Qualified Fund Class Z (Continued) 1,720.708 Shs. On Hand T. Rowe Price Equity Income Fund 10/01/2000 2,485.327 Shs. Star ting Balance' 12/13/2000 Cap. gain dist. 03/28/2001 Cap. gain dist. 03/28/2001 Cap. gain dist. 12/12/2001 Cap. gain dist. 12/12/2001 Cap. gain dist. 03/26/2002 Cap. gain dist. 12/18/2002 Cap. gain dist. 12/18/2002 Cap. gain dist. 03/27/2003 Cap. gain dist. 12/12/2003 Cap. gain dist. 12/12/2003 Cap. gain dist. 03/29/2004 Cap. gain dist. Long Term Cap Gains Dist 12/14/2009 Cap. gain dist. Long term capital gains distribut ion 03/29/2005 Cap. gain dist. 03/29/2005 Cap. gain dist. 12/13/2005 Cap. gain dist. 12/13/2005 Cap. gain dist. 2,485.327 Shs. On Hand Turner Short Duration Fixed Income Fund Cl. A 09/18/2002 977.517 Shs. 12/05/2002 12/05/2002 Inventory Value $ 27,601.50 50,353.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 $ 50,353.28 Purchased $ 10,000.00 Purchase of 977.517 Turner Short Duration Fixed Income Fund C1. A Cap. gain dist. 0.00 Cap. gain dist. 0.00 Page 4 (21) Information Schedules -Principal (Continued) Inventory Exchanges and Stock Distributions Value Turner Short Duration Fixed Income Fund Cl. A (Continued) 977.517 Shs . On Hand $ 10,000.00 09/10/2003 (977.517) Shs. Sold (10,000.00) Sale of Turner Short Duration Fixed Income (S.T.) Vanguard Wellington Fund Investor Shares 09/10/2003 740.081 Shs. Purchased $ 20,000.00 Purchase of Vanguard Wellington Fund Investor Shares 08/17/2004 415.357 Shs. Purchased 12,000.00 12/23/2004 Cap. gain dist. 0.00 Long term capital gains distribution 12/23/2004 Cap. gain dist. 0.00 Short term capital gains distribuiton 12/28/2005 Cap. gain dist. 0.00 12/28/2005 Cap. gain dist. 0.00 1, 155.438 Shs. On Hand $ 32,000.00 Page 5 (22) • Frances Freistak T/U/W Principal Unrealized Gains and Losses Dodge & Cox Income Fund 782.973 Shares Fidelity Puritan Fund 2,092.599 Shares Mutual Qualified Fund Class Z 1,720.708 Shares T. Rowe Price Equity Income Fund 2,485.327 Shares Vanguard Wellington Fund Investor Shares 1,155.438 Shares Market Value $ 10,046.95 39,654.75 33, 536.60 66,084.84 34,882.67 Inventory Value $ 10,056.00 34,219.60 27,601.50 50, 353.28 Total Unrealized $ 184,205.81 32,000.00 Gain or (Loss) $ (9.05) 5,435.15 5,935.10 15,731.56 2,882.67 $ 29,975.43 Page 1 (23) Frances Freistak T/U/W Receipts of Income Income on Hand as of Prior Account Charles Schwab Money Market $ (1,847.23) Account Total Income on Hand as of Prior Account Income Collected Charles Schwab Money Market Account 10/30/2000 Monthly Interest 11/29/2000 Monthly Interest 12/28/2000 Monthly Interest 01/30/2001 Monthly Interest 02/27/2001 Monthly Interest 03/29/2001 Monthly Interest 04/27/2001 Monthly Interest 05/30/2001 Monthly Interest 06/28/2001 Monthly Interest 07/30/2001 Monthly Interest 08/30/2001 Monthly Interest 09/27/2001 Monthly Interest 10/30/2001 Monthly Interest 11/29/2001 Monthly Interest 12/28/2001 Monthly Interest 01/30/2002 Monthly Interest 02/27/2002 Monthly Interest 03/27/2002 Monthly Interest 04/29/2002 Monthly Interest 05/30/2002 Monthly Interest 06/27/2002 Monthly Interest 07/30/2002 Monthly Interest 08/29/2002 Monthly Interest 09/27/2002 Monthly Interest 10/30/2002 Monthly Interest 11/27/2002 Monthly Interest 12/30/2002 Monthly Interest 01/30/2003 Monthly Interest 02/27/2003 Monthly Interest 03/28/2003 Monthly Interest 04/29/2003 Monthly Interest 05/29/2003 Monthly Interest 06/27/2003 Monthly Interest 07/30/2003 Monthly Interest 08/28/2003 Monthly Interest 09/26/2003 Monthly Interest 209.65 188.88 192.74 233.48 184.79 177.13 154.53 156.51 123.51 131.13 114.90 95.45 94.39 66.61 51.18 50.66 35.42 32.12 37.28 34.12 29.64 38.18 35.78 29.13 20.18 14.96 15.11 14.41 13.15 13.63 15.54 15.30 14.10 11.91 9.27 10.24 $ (1,847.23) $ (1,847.23) Page 1 (24) • Receipts of Income (Continued) Charles Schwab Money Market Account 10/30/2003 Monthly Interest $ 9.92 11/26/2003 Monthly Interest 8.64 12/30/2003 Monthly Interest 11.17 01/29/2004 Interest 10.20 02/26/2004 Interest 9.31 03/30/2004 Interest 10.24 04/29/2004 Interest 9.60 05/27/2004 Interest 8.62 06/29/2004 Interest 10.24 07/29/2004 Interest 12.70 08/30/2004 Interest 15.85 09/29/2004 Interest 14.41 10/28/2004 Interest 17.44 11/29/2004 Interest 23.83 12/30/2004 Interest 29.26 01/28/2005 Interest 35.89 02/25/2005 Interest 37,gg 03/30/2005 Interest 50.08 04/28/2005 Interest 48.53 05/27/2005 Interest 46.31 06/29/2005 Interest 53.08 07/28/2005 Interest 48.41 08/30/2005 Interest 58.16 09/29/2005 Interest 60.27 10/28/2005 Interest 62.99 11/29/2005 Interest 71.16 12/29/2005 Interest 71,77 $ 3,510.97 Dodge & Cox Income Fund 09/26/2002 Dividend $ 125.20 12/27/2002 Dividend 125.20 03/27/2003 Dividend 125.20 06/26/2003 Dividend 117.37 09/26/2003 Dividend 117.37 12/29/2003 Dividend 109.55 03/29/2004 Dividend on 782.473 Shares 109.55 06/28/2009 Dividend on 782.473 Shares 109.55 09/28/2004 Dividend on 782.473 Shares 117.37 12/29/2004 Dividend on 782.973 Shares 86.07 03/29/2005 Dividend on 782.473 Shares 101.72 06/28/2005 Dividend on 782.473 Shares 101.72 09/28/2005 Dividend on 782.473 Shares 109.55 12/28/2005 Dividend on 782.473 Shares 117.37 1,572.79 Page 2 (25) • . Receipts of Income (Continued) Federated Income Instl. Share 09/30/2002 Dividend 10/31/2002 Dividend 11/29/2002 Dividend 12/31/2002 Dividend 01/31/2003 Dividend 02/28/2003 Dividend 03/31/2003 Dividend 09/30/2003 Dividend 05/30/2003 Dividend 06/30/2003 Dividend 07/31/2003 Dividend 08/29/2003 Dividend 09/30/2003 Dividend 19.19 43.91 43.01 39.40 34.77 36.50 36.04 34.55 33.14 29.96 29.05 29.89 9.06 Fidelity Puritan Fund 12/18/2000 Dividend $ 397.59 03/12/2001 Dividend 292.96 06/11/2001 Dividend 292.96 09/07/2001 Dividend 292.96 12/14/2001 Dividend 376.67 03/08/2002 Dividend 251.11 06/07/2002 Dividend 251.11 09/06/2002 Dividend 251.11 12/13/2002 Dividend 292.96 03/07/2003 Dividend 230.19 06/06/2003 Dividend 209.26 09/05/2003 Dividend 251.11 12/12/2003 Dividend 251.11 03/05/2009 Dividend on 2,092.599 Shares 230.19 06/18/2004 Dividend on 2,092.599 Shares 230.19 10/08/2004 Dividend on 2,092.599 Shares 230.19 12/10/2004 Dividend on 2,092.599 Shares 251.11 04/01/2005 Dividend on 2,092.599 Shares 209.26 07/01/2005 Dividend on 2,092.599 Shares 251.11 10/07/2005 Dividend on 2,092.599 Shares 272.04 12/09/2005 Dividend on 2,092.599 Shares 292.96 418.47 5,608.15 Invesco Equity Income Fund 02/28/2001 Dividends $ 20.01 05/31/2001 Dividends 32.14 08/31/2001 Dividends 30.17 11/30/2001 Dividends 28 86 02/28/2002 Dividends 24 27 05/31/2002 Dividends 20.20 Page 3 ~26~ Receipts of Income (Continued) Invesco Equity Income Fund 08/30/2002 Dividends $ 17.05 $ 172.70 Invesco High Yield Fund 10/31/2000 Dividends $ 114.94 11/30/2000 Dividends 130.18 11/30/2000 Dividends 55.10 12/29/2000 Dividends 124.21 01/31/2001 Dividends 100.06 02/28/2001 Dividends 124.73 03/30/2001 Dividends 117.78 04/30/2001 Dividends 106.51 05/31/2001 Dividends 118.80 06/29/2001 Dividends 120.39 07/31/2001 Dividends 106.41 08/31/2001 Dividends 125.66 09/28/2001 Dividends 88.64 10/31/2001 Dividends 101.01 11/30/2001 Dividends 127.10 12/31/2001 Dividends 84.83 01/31/2002 Dividends 51.18 02/28/2002 Dividends 50.63 03/28/2002 Dividends 60.11 04/30/2002 Dividends 72.85 05/31/2002 Dividends 69.70 06/28/2002 Dividends 55.32 07/31/2002 Dividends 18.76 2,124.90 Mutual Qualified Fund Class Z 12/18/2000 Dividends $ 385.95 06/22/2001 Dividends 60.05 12/14/2001 Dividends 278.07 06/14/2002 Dividends 100.32 12/20/2002 Dividends 350.16 06/17/2003 Dividends 175.86 12/23/2003 Dividends 363.41 06/22/2004 Dividend on 1,720.708 Shares 53.34 12/21/2004 Dividend on 1,720.708 Shares 616.19 06/21/2005 Dividend on 1,720.708 Shares 82,gq 12/28/2005 Dividend on 1,720.708 Shares 636.49 3, 102.78 Page 4 ~27~ • Receipts of Income (Continued) T. Rowe Price Equity Income Fund 12/13/2000 Dividends $ 323.09 03/28/2001 Dividends 198.83 06/27/2001 Dividends 223.68 09/26/2001 Dividends 248.53 12/12/2001 Dividends 223.68 03/26/2002 Dividends 198.83 06/26/2002 Dividends 198.83 09/26/2002 Dividends 223.68 12/18/2002 Dividends 273.39 03/27/2003 Dividends 223.68 06/26/2003 Dividends 198.83 09/26/2003 Dividends 248.53 12/17/2003 Dividends 298.24 03/29/2004 Dividend on 2,485.327 Shares 173.97 03/29/2004 Dividend on 2,485.327 Shares 74.56 06/28/2004 Dividend on 2,485.327 Shares 248.53 09/28/2004 Dividend on 2,485.327 Shares 223.68 12/14/2004 Dividend on 2,485.327 Shares 397.65 12114/2004 Dividend on 2,485.327 Shares 248.53 03/2912005 Dividend on 2,485.327 Shares 223.68 06/28/2005 Dividend on 2,485.327 Shares 273.39 09/28/2005 Dividend on 2,485.327 Shares 273.39 12/13/2005 Dividend on 2,485.327 Shares 372.80 Turner Short Duration Fixed Income Fund CI. A 09/30/2002 Dividend $ 8.34 10/3112002 Dividend 22.19 11/29/2002 Dividend 20.86 12/31/2002 Dividend 20.69 01/31/2003 Dividend 21.29 02/28/2003 Dividend 23.65 03131/2003 Dividend 19.37 04/30/2003 Dividend 20.28 05/30/2003 Dividend 18.36 06/30/2003 Dividend 18.17 07/31/2003 Dividend 18.64 08/29/2003 Dividend 20.14 09/30/2003 Dividend 6.03 5,592.00 237.96 Page 5 (28) Receipts of Income (Continued) Vanguard Wellington Fund Investor Shares 09/26/2003 Dividend $ 140.62 12/19/2003 Dividend 159.12 03/26/2004 Dividend on 740.081 Sh ares 133.21 06/25/2004 Dividend on 740.081 Sh ares 155.42 09/24/2004 Dividend on 1,155.438 Shares 242.64 12/23/2004 Dividend on 1,155.438 Shares 317.75 03/23/2005 Dividend on 1,155.438 Shares 231.09 06/24/2005 Dividend on 1,155.438 Shares 242.64 09/23/2005 Dividend on 1,155.438 Shares 242.64 12/28/2005 Dividend on 1,155.438 Shares 323.52 Total Income Received $ 2,188.65 $ 22,682.14 Page 6 (29) • Frances Freistak T/U/W • Gains and Losses on Sales or Other Dispositions of Income Net Gain Net Loss No Gain or Loss $ o.oo Page 1 (30) Date Paid • Frances Freistak T/U/W • Disbursements of Income Total Disbursements of Income Amount Paid $ 0.00 Page 1 (31) • Frances Freistak T/LJ/W • Distributions of Income to Beneficiaries Distribution Value Geroge R Freistak 11/15/2000 Cash Distribution of 2000 Fiduciary Accounting Income Check Number 152 03/05/2001 Ca s h Distribution of 2000 Fiduciary Accounting Income Check Number 155 02/05/2002 C a s h Distribution of 2002 accounting income Check Number 166 02/07/2002 C a s h Distribution of 2002 accounting income Check Number 167 04/12!2002 Cash Income distribution f/b/o beneficiary Check Number 171 02/19/2004 Cash Paid George R Freistak 2003 Income distiibution 08/20/2004 Cash Income Distribution Check Number 182 03/06/2005 C a s h 2009 Income Distribution Check Number 185 Total Distributions of Income $ 4,332.08 1,448.12 2,000.00 672.09 1,000.00 3,805.62 1,502.16 2,919.23 $ 17,679.30 $ 17,679.30 Page 1 (32) • • Frances Freistak T/U/W Income Balance On Hand Valued as of December 31, 2005 Cash and Cash Equivalents Charles Schwab Money Market Account Total Cash and Cash Equivalents Total Balance on Hand Inventory Value $ 5,002.84 $ 5,002.84 $ 5,002.84 Page 1 (33) • Frances Freistak T/U/W Income Unrealized Gains and Losses Market Value Inventory Value Gain or (Loss) Page 1 (34) • SUMMARY OF ACCOUNT Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 Proposed Distributions to Beneficiaries Principal Receipts Net Gain (or Loss) on Sales or Other Dispositions Other Receipts Less Disbursements Fees and Commissions (Prin) Other Expenses (Prin) Balance before Distributions Distributions to Beneficiaries Principal Balance on Hand For Information: Changes in Investment Holdings Income Receipts Less Disbursements Balance before Distributions Distributions to Beneficiaries Income Balance on Hand Combined Balance on Hand Fiduciary Acquisition Page Value 16-17 $ 196.993.75 1 $ 190,016.14 2-4 21,262.05 n nn 5 $ 6,673.34 5-6 2,713.13 9,386.47 $ 201,891.72 7 6,182.95 8 $ 195,708.77 9 10-14 $ 19,940.87 n nn 15 ~ 18655.89 • RECEIPTS OF PRINCIPAL Frances Freistak Trust under Will As of 5/31 /2008 Receipts Subsequent to Inventory (Valued when received) 01/01/2001 Charles Schwab Money Market 01/01/2001 2,485.327 units T Rowe Price Equity Income Fund Account Value $50,353.28 PRFDX NASDAQ 2,485.327 Units 01/01/2001 1,155.438 units Vanguard Wellington Fund Investor Shares Account Value $32,000.00 VWELX NASDAQ 1,155.438 Units 01/01/2001 1,720.708 units Mutual Qualified Fund Class Z Account Value $27,601.50 MQIFX NASDAQ 1,720.708 Units 01/01/2001 782.473 units Dodge & Cox Income Fund Account Value $10,056.00 DODIX NASDAQ 782.473 Units 01/01/2001 2,092.599 units Fidelity Puritan Fund Account Value $34,219.60 FPURX NASDAQ 2,092.599 Units TOTAL RECEIPTS SUBSEQUENT TO INVENTORY CJ $ 35,785.76 $ 50,353.28 $ 32,000.00 $ 27,601.50 $ 10,056.00 $ 34,219.60 Page 1 $ 190,016.14 GAINS AND~OSSES ON SALES OR OTHER DI~OSITIONS Page 2 Frances Freistak Trust under W ill For Period 01!01/2001 Through 5/31/2008 Gain Loss 3/29/2006 Long term Cap Gain on T. Rowe Price Equity Fund Net Proceeds $ 149.12 Fiduciary Acquisition Value 0.00 Net Gain $ 149.12 6/20/2006 Long Term Capital Gains on Mutual Qualified Fund Cla ss Z Net Proceeds $ 332.61 Fiduciary Acquisition Value 0.00 Net Gain 332.61 9/8/2006 LT Cap Gain on Fidelity Puritan Fund Net Proceeds $ 1,213.71 Fiduciary Acquisition Value 0.00 Net Gain 1,213.71 12/8/2006 LT Cap Gain distribution on Fidleity Puritan Fund Net Proceeds $ 523.15 Fiduciary Acquisition Value 0.00 Net Gain 523.15 12/19/2006 LT Cap Gain distribution from T Rowe Price Equity Inc Fund Net Proceeds $ 1,565.76 Fiduciary Acquisition Value 0.00 Net Gain 1,565.76 12/26/2006 LT Cap Gain distribution from Vanguard Wellington Fund Net Proceeds $ 1,463.94 Fiduciary Acquisition Value 0.00 Net Gain 1,463.94 GAINS ANDDD~OSSES ON SALES OR OTHER DI~OSITIONS Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 Gain 12/27/2006 LT Cap Gain distribution from Mutual Qualified Clas s Z Net Proceeds $ 1,832.21 Fiduciary Acquisition Value 0.00 Net Gain $ 1,832.21 3/28/2007 long term cap gain on T Rowe Price Equity Fd Net Proceeds $ 894.72 Fiduciary Acquisition Value 0.00 Net Gain 894,72 7/19/2007 Mutual Qual Z LT Cap Gain Net Proceeds $ 78.46 Fiduciary Acquisition Value 0.00 Net Gain 78.46 10/5/2007 Fidelity Puritan Fund LT Cap Gain Net Proceeds $ 2,155.38 Fiduciary Acquisition Value 0.00 Net Gain 2,155.38 12/18/2007 T. Rowe Price Equity Income Fd LT Cap Gain Net Proceeds $ 3,504.31 Fiduciary Acquisition Value 0.00 Net Gain 3,504.31 12/21/2007 Fidelity Puritan Fund LT Cap Gain Net Proceeds $ 1,234.63 Fiduciary Acquisition Value 0.00 Net Gain 1,234.63 12/26/2007 Mutual Qualified Fd CI Z LT Cap Gain Net Proceeds $ 2,164.82 Fiduciary Acquisition Value 0.00 Net Gain 2,164.82 Loss Page 3 GAINS AND~OSSES ON SALES OR OTHER DI~OSITIONS Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 12/27/2007 Vanguard Wellington Fd LT Cap Gain Gain Net Proceeds $ 2,484.OEi Fiduciary Acquisition Value 0.00 Net Gain $ 2,484.06 3/27/2008 LT Cap Gain Distribution From T. Rowe Price Equity Income Fund Net Proceeds $ 1,665.17 Fiduciary Acquisition Value O.OCI Net Gain 1,665.17 Net Gain $ 21,262.05 Loss Page 4 DISBURSEMENTS OF PRINCIPAL Frances Freistak Trust under Will For Period 01 /01 /2001 Through 5/31 /2008 Fees and Commissions (Prin) 5/1/2006 Keefer Allen & Rahal LLP legal fees 6/12/2006 Keefer Wood Allen & Rahal LLP attorney's fees 4/18/2007 Keefer Wood Allen & Rahal LLP Legal fees paid for 2006 3/19/2008 Keefer Wood Allen & Rahal, LLP Legal Fees Paid For 2007 05/31/2008 Keefer Wood Allen & Rahal, LLP -Reserve For Final Legal Fees Other Expenses (Prin) 4/3/2006 U.S. Treasury 2005 Federal Fiduciary Income Tax (Form 1041) 4/3/2006 PA Dept of Revenue 2005 Pennsylvania Fiduciary Income Tax (Form PA-41) 4/3/2006 U. S. Treasury 2006 Estimated Federal Fiduciary Income Tax Payment (Form 1041-ES) 4/3/2006 PA Dept of Revenue 2006 Esimtated Pennsylvania Fiduciary Income Tax Payment (Form PA-41 ES) 6/14/2006 PA Dept of Revenue Interest on 2005 Quarterly Estimated payment 3/26/2007 US Treasury 2006 Federal Fiduciary Income Tax (Form 1041) 3/26/2007 US Treasury 2007 Estimated Federal Fiduciary Income Tax Payment (Form 1041-ES) 3/26/2007 PA Dept of Revenue 2007 Estimated Pennsylvania Fiduciary Income Tax Payment (Form PA-41 ES) $ 1,443.98 300.00 1,395.00 1,934.36 1 _FiM M $ 65.00 250.00 68.00 364.00 8.13 775.00 843.00 295.00 Page 5 $ 6,673.34 DISBURSEMENTS OF PRINCIPAL Page 6 Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 3/3/2008 PA Dept. of Revenue 2007 Pennsylvania Fiduicary Income Tax (Form PA-41) $ 45.00 $ 2,713.13 TOTAL DISBURSEMENTS OF PRINCIPAL $ 9,386.47 DISTRIBUTIONS OF PRINCIPAL TO BENEFI-CIARIES Page 7 Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 To: George Robert Friestak Principal Distribution 02/28/2008 Cash $ 6,182.95 TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES $ 6,182.95 .PRINCIPAL BALANCE ON HAND. Frances Freistak Trust under Will As of 5/31 /2008 Current Carrying Value Value Money Market Accounts Charles Schwab Money Market $17,713.42 $17,713.42 Common Stocks 2,485.327 units T Rowe Price Equity Income Fund Account Value $50,353.28 PRFDX NASDAQ 64,817.33 50,353.28 2,485.327 Units 1,155.438 units Vanguard Wellington Fund Investor Shares Account Value $32,000.00 VW ELX NASDAQ 61,311.51 57,049.95 1,903.493 Units Municipal Bonds 1,720.708 units Mutual Qualified Fund Class Z Account Value $27,601.50 MQIFX NASDAQ 36,565.05 27,601.50 1,720.708 Units Corporate Bonds 782.473 units Dodge & Cox Income Fund Account Value $10,056.00 DODIX NASDAQ 9,788.74 10,056.00 782.473 Units 2,092.599 units Fidelity Puritan Fund Account Value $34,219.60 FPURX NASDAQ 38,357.34 34,219.60 2,092.599 Units $228,553.39 $196,993.75 Less: Income balance on hand 1,284.98 1,284.98 PRINCIPAL BALANCE ON HAND $227,268.41 $195,708.77 Page 8 INFORMATION SCHEDULES • Page 9 Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 Changes in Investment Holdings Vanguard Wellington Fund Investor Shares 7/31/2007 Purchase Vanguard Wellington Shares 748.055 Units 32,000.00 25,049.95 $ 57,049.95 • RECEIPTS OF INCOME Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 Dividends T Rowe Price Equity Income Fund 3/29/2006 Dividend 6/28/2006 Dividend 9/27/2006 Dividend 12/19/2006 Dividend 3!28/2007 Dividend 6/27/2007 Dividend 9/26/2007 Dividend 12/18/2007 Dividend 3(27(2008 Dividend Vanguard Wellington Fund Investor Shares 3/24/2006 Dividend 6/23!2006 Dividend 9/22/2006 Dividend 12/26/2006 Dividend 3/23/2007 Dividend 6/22/2007 Dividend 9/21/2007 Dividend 12/27/2007 Dividend 3/27/2008 Dividend 248.53 298.24 298.24 372.80 273.39 372.80 397.65 397.65 ~a~ ~~ 3,OU7.Z5 242.64 288.86 277.31 323.52 254.20 311.97 494.91 628.15 a~7 ~n 3,259.;iEi Page 10 Total Dividends $ 6,266.61 • RECEIPTS OF INCOME Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 Interest Charles Schwab Money Market 1/1/2006 Accumulated Income transferred from prior account 1 /30/2006 Interest 2/27/2006 Interest 3/30/2006 Interest 4/27/2006 Interest 5/30/2006 Interest 6/29/2006 Interest 7/28/2006 Interest 8/30/2006 Interest 9/28/2006 Interest 10/30/2006 Interest 11 /29/2006 Interest 12/28/2006 Interest 1 /30/2007 Interest 2/27/2007 Interest 3/29/2007 Interest 4/27/2007 Interest 5/30/2007 Interest 6/28/2007 Interest 7/30/2007 Interest 8/30/2007 Interest 9/27/2007 Interest 10/30/2007 Interest 5,002.84 90.88 80.08 79.10 74.24 84.47 77.55 78.34 89.76 81.05 92.32 85.52 84.69 109.18 92.60 91.25 86.03 95.44 83.76 94.42 41.71 32.42 34.35 Page 11 11 /29/2007 Interest 12/28/2007 Interest 1 /30/2008 Interest 2/28/2008 Interest 3/28/2008 Interest 4/29!2008 Interest 5/29/2008 Interest Mutual Qualified Fund Class Z 12/26/2007 Dividend Dodge & Cox Income Fund 3/31 /2006 Interest 6/29/2006 Interest 9/28/2006 Interest 12/28/2006 Interest 3/29/2007 Interest 6/28/2007 Interest 9/27/2007 Dividend 12/28/2007 Dividend 3/27/2008 Dividend Fidelity Puritan Fund 4/7/2006 Interest 7/7/2006 Interest 10/6/2006 Interest • RECEIPTS OF INCOME • Frances Freistak Trust under Will For Period 01 /01 /2001 Through 5/31 /2008 35.88 38.36 56.13 27.72 12.25 8.32 ~ as 1,146.34 117.37 117.37 125.20 122.07 117.37 125.20 125.20 129.11 ~ ~~ ~n 1,1U4.U9 272.04 313.89 313.89 Page 12 • RECEIPTS OF INCOME • Frances Freistak Trust under Will For Period 01/01/2001 Through 5/31/2008 12/8/2006 Interest 4/4/2007 Interest 7/6/2007 Dividend 10/5/2007 Dividend 12/21/2007 Dividend 4/4/2008 Dividend Total Interest Tax Exempt Interest Mutual Qualified Fund Class Z 6/20/2006 Interest 12/27/2006 Interest 6/19/2007 Interest Total Tax Exempt Interest Gains Allocable to Income T Rowe Price Equity Income Fund 3/29/2006 Short term cap gain on T Rowe Price Equity Income Fund 12/19/2006 ST Cap Gain distribution from T Rowe Price Equity Inc Fund 12/18/2007 Short term capital gain distribution 3/27/2008 ST Cap Gain Distribution From T. Rowe Price Equity Income Fund Vanguard Wellington Fund Investor Shares 12/26/2006 ST Cap Gain distribution from Vanguard Wellington Fd 334.82 292.96 292.96 313.89 313.89 ~.ri1 11 1,(~yy.45 81.73 609.30 94.12 785.15 74.56 173.97 149.12 99.41 497.06 154.83 Page 13 $ 11,893.48 785.15 RECEIPTS OF INCOME • Frances Freistak Trust under Will For Period 01 /01 /2001 Through 5/31 /2008 12/27/2007 Short term capital gain distribution Mutual Qualified Fund Class Z 6/20/2006 Short Term Capital Gain on Mutual Qualified Fund Class Z Fidelity Puritan Fund 12/8/2006 ST Cap Gain distribution on Fidelity Puritan Fund Total Gains Allocable to Income TOTAL RECEIPTS OF INCOME Page 14 226.52 381.35 75.37 41.85 $ 995.63 $ 19,940.87 DISTR~UTIONS OF INCOME TO BENEFI~RIES Frances Freistak Trust under Will For Period 01!01 /2001 Through 5/31 /2008 To: George Robert Friestak 2005 Income Distribution under 65 day rule 3!2/2006 Cash To: George Robert Friestak 2006 Income Distribution under 65 day rule 3/1!2007 Cash To: George Robert Friestak 2007 Income Distribution under 65 day rule 2/28/2008 Cash Total for George Robert Friestak TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES $ 5,002.84 3,918.00 9,735.05 Page 15 $18,655.89 $ 18,655.89 SCHEDULE OF PROPOSED FINAL DISTRIBUTIONS FRANCES FREISTAK TRUST UNDER WILL Fair Market Value on 05/31/08 RICHARD T. FREISTAK: Cash 1,242.6635 units T. Rowe Price Equity Income Fund 951.7465 units Vanguard Wellington Fund Investors Shares 860.354 units Mutual Qualified Fund Class Z 391.2365 units Dodge & Cox Income Fund 1,046.2995 units Fidelity Puritan Fund Total ALFRED P. FREISTAK: Cash 1,242.6635 units T. Rowe Price Equity Income Fund 951.7465 units Vanguard Wellington Fund Investors Shares 860.354 units Mutual Qualified Fund Class Z 391.2365 units Dodge & Cox Income Fund 1,046.2995 units Fidelity Puritan Fund Total $ 8,856.71 $ 32,408.67 $ 30,655.75 $ 18,282.52 $ 4,894.37 $ 19,178.67 $114,276.69 $ 8,856.71 $ 32,408.66 $ 30,655.76 $ 18,282.53 $ 4,894.37 $ 19,178.67 $114,276.70 Carrying Value a/k/a $ 8,856.71 $ 25,176.64 $ 28,524.97 $ 13,800.75 $ 5,028.00 $ 17,109.80 $ 98,496.87 $ 8,856.71 $ 25,176.64 $ 28,524.98 $ 13,800.75 $ 5,028.00 $ 17,109.80 $ 98,496.88 r TRUST ~1,D~13, fag. ~,~ COURT OF COMMON PLEAS OF N CUMBERLAND COUNTY, PENNSYLVANIA ~~ ~.=0 ~ ~ - . ORPHANS' COURT DIVISION '~ n ~= ` ~-% `-~ ::. _ - ~ _ - ~ NAME OF TRUST , ~ , N .~ . 1 ~ (TRUST UNDER WILL OF HORACE T. SADLER ~•,n ' ~ ? or TRUST UNDER DEED OF DATED No. 21 93 745 PETITION FOR ADJUDICATION / STATEMENT OF PROPOSED DISTRIBUTION PURSUANT TO Pa. O.C. Rule 6.9 This form may be used in all cases involving the Audit of Trust Accounts. If space is insufficient, riders may be attached. INCLUDE ATTACHMENTS AT THE BACK OF THIS FORM. Name of Counsel: No V Otto III, Esquire Supreme Court I.D. No.: 27763 Name of Law Firm: Martson Law Offices Address: Ten East High Street, Carlisle, PA 17013 Telephone: 717-243 -3 341 Fax: 717-243-1850 Fornt OC-02 rev 10.13.06 Page 1 of 10 J Name of Trust: HORACE T. SADLER 1. Name(s) and address(es) of Petitioner(s): Name: Petitioner: Petitioner: Jane F. Burke, Vice President Manufacturers & Traders Trust Co. Address: One West Hlgh Street Carlisle, PA 17013 2. Check if any of the following issues are involved in this case: A. Appointment of Trustee ..................................... ...... ~ B. Interpretation ............................................. ...... C. Discharge of Trustee ....................................... ...... D. Transfer of Situs ........................................... ...... E. Appointment of AdLitem .................................... ...... F. Minor, Unborn or Unascertained Beneficiary(ies) ................ ...... ~ G. Principal Distribution ....................................... ...... H. PartiaUFull Termination of Trust .............................. ...... I. Missing Beneficiary(ies) .................................... ...... J. Cy Pres .................................................. ...... K. WilliamsonIssue* ......................................... ...... L. Otherlssues .............................................. ...... ~ List: Please note: A detailed explanation of issues checked should be set forth at item 13 below. '~ See Williamson Estate, 368 Pa. 343, 82 A.2d 49 (195 I ), if Trustee was also Executor of the settlor/decedent's estate attd received commissions in such capacity. Form OC-02 rev IOJ3A6 Page 2 Of 10 Name of Trust: HORACE T. SADLER 3. Testamentary Trust: Decedent's date of death: Feb. 27, 1953 Date of Decedent's Will: July 1, 1951 Date(s) of Codicil(s): None Date of probate: March 6, 1953 or Inter Vivos Trust: Date of Trust: Date(s) of Amendment(s): 4. A. If any other Court has taken jurisdiction of any matter relating to this Trust, explain: N/A B. Identify all prior accountings and provide dates of adjudication. Numerous accountings filed since inception of trust. Most recent Accounting covered July 1, 2006 to June 30, 2007 Adjudicated Aug. 28, 2007. 5. A. State how each Trustee was appointed: Appointed by terms of Will B. If a Petitioner is not a Trustee, explain: N/A F'o~m oc-oz rev 10.13. oh Page 3 of 10 Name of Trust: HORACE T. SADLER 11. State why a Petition for Guardian/Trustee Ad Litem has or has not been filed for this Audit (see Pa. O.C. Rule 12.4): N/A 12. A. State the amount of Pennsylvania Transfer Inheritance Tax and Pennsylvania Estate Tax paid (including postponed tax on remainder interests), the dates of payment and the interests upon which such amounts were paid: Date Payment Interest N/A B. If any such taxes remain unpaid or are in dispute, explain: None 13. Describe any questions requiring Adjudication and state the position of Petitioner(s) and give details of any issues identified in item 2: None Form oc-oz rey 1213.nh Page 5 of 10 Name of Trust: HORACE T. SADLER 14. Written notice of the Audit as required by Pa. O.C. Rules 6.3, 6.7 and 6.8 has been or will be given to all parties in interest listed in item 15 below. In addition, notice of any questions requiring Adjudication as discussed in item 13 above has been or will be given to all persons affected thereby. A. If Notice has been given, attach a copy of the Notice as well as a list of the names and addresses of the parties receiving such notice. B. If Notice is yet to be given, a copy of the Notice as well as a list of the names and addresses of the parties receiving such Notice shall be submitted at the Audit together with a statement executed by Petitioner(s) or counsel certifying that such Notice has been given. C. If any such party in interest is not sui juris (e.g., minors or incapacitated persons), Notice of the Audit has been or will be given to the appropriate representative on such party's behalf as required by Pa. O.C. Rule 5.2. D. If any charitable interest is involved, Notice of the Audit has been or will also be given to the Attorney General as required under Pa. O.C. Rule 5.5. In addition, the Attorney General's clearance certificate (or proof of service of Notice and a copy of such Notice) must be submitted herewith or at the Audit. 15. List all parties of whom Petitioner(s) has/have notice or knowledge, having or claiming any interest in the Trust, whether such interest is vested or contingent, charitable or non-charitable. This list shall: A. State each party's relationship to the Settlor/Decedent and the nature of each parry's interest(s); Form OC-01 rev 10.13.06 Page 6 Of 10 Name of Trust: HORACE T. SADLER B. Identify each party who is not sui juris (e.g., minors or incapacitated persons). For each such party, give date of birth, the name of each Guardian and how each Guardian was appointed. If no Guardian has been appointed, identify the next of kin of such party, giving the name, address and relationship of each; and N/A C. If distribution is to be made to the personal representative of a deceased party, state date of death, date and place of grant of Letters and type of Letters granted. N/A 16. If Petitioner(s) has/have knowledge that a Trust share has been assigned or attached, provide a copy of the assignment or attachment, together with any relevant supporting documentation. 17. If a trustee's principal commission is claimed: A. If based on a written agreement, attach a copy thereof. FoYm oc-nz rep ro. ~3.nh Page 7 of 10 Name of Trust: HORACE T. SADLER B. If a principal commission is claimed, state amount. N/A C. If a principal commission is claimed, state the amounts and dates of any principal commissions previously paid in prior accounting periods. Amount Date Paid 18. If a reserve is requested, state amount and purpose. 0.00 Purpose: If a reserve is requested for counsel fees, has notice of the amount of fees to be paid from the reserve been given to the parties in interest? ........................................ Q Yes ~No If so, attach a copy of the notice. 19. Is the Court being asked to direct the filing of a Schedule of Distribution? .......................... ^ Yes ®No Form OC-01 ren ~n.i i.oh Page 8 of 10 Name of Trust: HORACE T. SADLER Wherefore, your Petitioner(s) ask(s) that distribution be awarded to the parties entitled and suggest(s) that the distributive shares of income and principal (residuary shares being stated in proportions, not amounts) are as follows: A. Income: Proposed Distributee(.r) Amount/Proportion N/A B. Principal: Proposed Distributee(s) Amount/Proportion N/A Submitted By: (All petitioners must sign. Add additional lines if necessary): Y ,~W_ _'~ Nam of Petitioner: Jane F. Burke, Vice President Manufacturers & Traders Trust Company Name of Petitioner: Form OC-O2 rev 10.!3.06 Page 9 of 10 Name of Trust: HORACE T. SADLER Verification of Petitioner (Verification must be by at least one petitioner.) The undersigned hereby verifies * [that tieisne she is rare Vice President of the above-named name o/'corporation Manufacturers & Traders Trust Co. and] that the facts set forth in the foregoing Petition for Adjudication /Statement of Proposed Distribution which are within the personal knowledge of the Petitioner are true, and as to facts based on the information of others, the Petitioner, after diligent inquiry, believes them to be true; and that any false statements herein are made subject to the penalties of 18 Pa. C.S. § 4904 (relating to unsworn falsification to authorities). Si ature of Petitioner * Corporate petitioners must complete bracketed information. Certification of Counsel The undersigned counsel hereby certifies that the foregoing Petition for Adjudication / Statement of Proposed Distribution is a true and accurate reproduction of the form Petition authorized by the Supreme Court, and that no changes to the form have been made beyond the responses herein. ~. Signature of Counsel for Petitioner Form OC-02 rev ~o. rs.oh Page 10 of 10 G i a~ao~~,as COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ~ na FORTY-SIXTH ACCOUNT OF MANUFACTURERS AND TRADERS TRUST COMPANY. ~ O ~`' _ SUCCESSOR TO FARMERS TRUST COMPANY, _ ~ ` ~ r~ r,., TRUSTEE FOR SADLER FOUNDATION AS ,- ~ ~ ~ _ ~ ~ , : 3 7 _-, DIREGTED UNDER PROVISIONS OF THE WILL _ --• 177 == ~ n~ - ,_ _ f'° i i , `J' „ _ -; ~*: OF HORACE T. SADLER, DECEASED " - `"~ r..~ r~ COVERING THE PERIOD JULY 1, 2007 TO JUNE 30, 2008 ~ --,~ti File No. 21-93-745 - PRINCIPAL ACCOUNT `-~ '? Receipts The Accountant charges itself with the following items as shown in the previous accounting: Corporate Bonds and Debentures Federal Agency Bonds Domestic Equity Mutual Funds International Equity Mutual Funds Fixed Income Mutual Funds Money Market Funds Principal Receipts During Period July 1, 2007 to June 30, 2008 07/20/07 Transfer from Income 07/23/07 Class Action Settlement St. Paul Travelers 08/07/07 Class Action Settlement AOL Time Warner 08/20/07 Transfer from Iricome 09/20/07 Transfer from Income 10/10/07 Class Action Settlement Concord EFS, Inc. 10/22/07 Transfer from Income 10/24/07 Class Action Settlement SEC Fannie Mae 11/20/07 Transfer from Income 11/26/07 Long Term Capital Gain Federated Strategic Value Fund 12/19/07 Long Term Capital Gain Bridgeway Ultra Small Cap Fund 12/20/07 Transfer from Income 12/24/07 Long Term Capital Gain Alpine Intl. Real Estate Equity Fund 12/26/07 Long Term Capital Gain Fidelity Spartan Intl. Index Fund 12/31/07 Accreted Adjustment General Foods Corp. 7% 6/15/11 01/22/08 Transfer from Income 02/20/08 Transfer from Income 02/26/08 Ciass Action Settlement Symbol Technologies, Inc. 03/20/08 Transfer from Income 04/21/08 Transfer from Income 05/20/08 Transfer from Income 06/20/08 Transfer from Income Totat Principal Receipts Page 1 $ 987,446.54 34, 894.68 10, 830,122.29 2, 853, 772.92 7, 392, 774.32 155,551.01 $ 22,254,561.76 $ 66,853.72 $ 93.89 2,657,10 36,357.60 39, 912.81 81.22 85,242.66 1, 013.94 49, 977.99 55,473.71 111, 989.64 117, 325.91 19,673.03 11,913.63 445.18 167, 544.36 30, 576.62 235.93 35,405.33 88,756.71 39, 376.54 43, 763.74 $ 1,004,671.26 Principal Conversions Into Cash Durins~ Period Julv 1, 2007 to June 30, 2008 07/16/07 FHLMC Gold 6% 2!1/14 Proceeds 503.86 Account Value 483.27 08/02/07 785.297 shs. Alpine Intl. Real Estate Equity Fund Proceeds 35,252.00 Account Value 33,555.74 08/02/07 1200.695 shs. Fidelity Spartan Intl. Index Fund Proceeds 56,889.00 Account Value 49,414.29 08/02/07 17174.673 shs. MTB US Govt. Bond Fund Proceeds 157, 320.00 Account Value 166,610.50 08/02/07 13427.622 shs. Federated Total Return Bond Fund Proceeds 139,513.00 Account Value 142,147.80 08/15/07 FHLMC Gold 6% 211/14 Proceeds 463.87 Account Value 444.92 08/16/07 5798.655 shs. Federated Total Return Bond Fund Proceeds 60, 364.00 Account Value 61,349.77 08/16/07 6485.948 shs. MTB US Govt Bond Fund Proceeds 59,541.00 Account Value 63,134.89 20.59 1,696.26 7,474.71 18.95 09/05/07 18975.663 shs. Forward Intl. Small Companies Fund Proceeds 382,169.86 Account Value 361,676.13 20,493.73 09/05/07 259.592 shs. Vanguard Institutional Index Fund Proceeds 35,450.00 Account Value 31,771.46 3,678.54 09/05/07 1369.68 shs. Vanguard Value Index Fund Admiral Proceeds 37,584.00 Account Value 34,077.64 3, 506.36 09/05/07 5745.024 shs. Federated Strategic Value Fund Proceeds 36,366.00 Account Value 37,515.01 9,290.50 2,634.80 985.77 3, 593.89 1,149.01 Page 2 09!05/07 2079.085 shs. Bridgeway Ultra Small Co. Market Fund Proceeds 40,459.00 Account Value 40,479.79 09/05/07 50966.954 shs. Federated Total Return Bond Fund Proceeds 533,624.00 Account Value 537,917.43 09/05/07 58801.19 shs. MTB US Govt Bond Fund Proceeds 543,323.00 Account Value 565,642.27 09/17/07 FHLC Gold 6% 2/1/14 Proceeds 424.03 Account Value 406.71 10115/07 FHLMC Gold 6% 2/1114 Proceeds 468.39 Account Value 449.25 10/30/07 2500.175 shs. Fidelity Spartan Intl. Index Fund 17.32 19.14 Proceeds 128,859.00 Account Value 120,508.44 8, 350.56 10/30/07 283.09 shs. Vanguard Institutional Index Fund Proceeds 39,910.00 Account Value 34,647.38 5, 262.62 10/30/07 2511.338 shs. Bridgeway Ultra Small Co. Market Fund Proceeds 50,503.00 Account Value 49,270.73 ' 1, 232.27 11/09/07 3861.32 shs. Alpine Intl. Real Estate Equity Fund Proceeds 174,300.00 Account Value 164,994.22 9, 305.78 11/09/07 2783.281 shs. STI Classic SEIX Floating Rate Proceeds 26,803.00 Account Value 26,496.84 306.16 11/13/07 8230.334 shs. Vanguard Value Index Fund Signal Proceeds 224,112.00 Account Value 212,758.93 11,353.07 11!13/07 519.138 shs. Fidelity Spartan Intl. Index Fund Proceeds 25,635.00 Account Value 25,022.45 612.55 11/13/07 135320.34 shs. MTB US Govt Bond Fund Proceeds 1,270,658.00 Account Value 1,287,440.29 11/15/07 FHLMC Gold 6% 211/14 Proceeds 473.08 Account Value 453.75 19.33 20.79 4,293.43 22, 319.27 16,782.29 Page 3 12/17/07 FHLMC Gold 6% 2/1/14 Proceeds 477.14 Account Value 457.65 19.49 12/28/07 2714.062 shs. Bridgeway Ultra Small Co. Market Fund Proceeds 48,636.00 Account Value 52,297.73 3,661.73 12/28/07 3123.164 shs. Federated Total Return Bond Fund Proceeds 33,168.00 Account Value 32,824.45 343.55 12/31/07 501.155 shs. Vanguard Institutional Index Fund Proceeds 67,686.00 Account Value 61,336.34 6, 349.66 12/31/07 1039.816 shs. Vanguard Value Index Fund Signal Proceeds 28,231.00 Account Value 26,825.11 1,405.89 01115/08 FHLMC Gold 6% 2/1/14 Proceeds 475.80 Account Value 456.36 01/16/08 3202.333 shs. STI Classic SEIX Floating Rate 19.44 Proceeds 30,198.00 Account Value 30,700.20 502.20 01/16/08 14359.041 shs. Federated Total Return Bond Fund Proceeds 155,652.00 Account Value 150,913.52 4,738.48 01/16/08 11877.139 shs.MT6 US Govt Bond Fund Proceeds 113,783.00 Account Value 111,557.79 2,225.21 02/12/08 1222.595 shs. Alpine Intl Real Estate Equity Fund Proceeds 41,556.00 Account Value 52,183.66 10, 627.66 02/12/08 11683.488 shs. Federated Total Return Bond Fund Proceeds 125,948.00 Account Value 122,793.46 3,154.54 02/12/08 54768.125 shs. MTB US Govt Bond Fund Proceeds 525,774.00 Account Value 515,368.06 10,405.94 02/15/08 FHLMC Gold 6% 2/1/14 Proceeds 480.98 Account Value 461.33 02/28/08 514.561 shs. Vanguard Institutional Index Fund Proceeds 65,092.00 Account Value 68,924.09 19.65 3, 832.09 Page 4 02/28/08 1208.878 shs. Vanguard Value Index Fund Signal Proceeds 31,044.00 Account Value 34,142.93 02/28/08 7054.38 shs. Federated Strategic Value Fund Proceeds 38,658.00 Account Value 46,401.98 02/28/08 528.487 shs. Alpine Intl. Real Estate Equity Fund Proceeds 19,591.00 Account Value 22,233.45 02/28/08 3005.798 shs. Fidelity Spartan Intl. Index Fund Proceeds 134,269.00 Account Value 143,136.10 03/03/08 100M par Mellon Finl. Co. 6.7% 3/1!08 Proceeds 100,000.00 Account Value 99,617.00 03/17/08 FHLMC Gold 6% 2/1/14 Proceeds 481.51 Account Value 461.84 03/17/08 1648.253 shs. Alpine Intl. Reaf Estate Equity Fund Proceeds 55,200.00 Account Value 69,342.01 383.00 19.67 3,098.93 7, 743.98 2.642.45 8, 867.10 14,142.01 03/17/08 3281.264 shs. STI Classic SEIX Floating Rate Proceeds 29,072.00 Account Value 31,237.63 2,165.63 03/17/08 8798.409 shs. Federated Total Return Bond Fund Proceeds 93,967.00 Account Value 92,471.28 1,495.72 03/17/08 5235.325 shs. MTB US Govt Bond Fund Proceeds 49,945.00 Account Value 49,264.41 680.59 04/15/08 FHLMC Gold 6% 2/1114 Proceeds 2,029.37 Account Value 1,946.45 82.92 04/17/08 1960.317 shs. Alpine Intl. Real Estate Equity Fund Proceeds 67,925.00 Account Value 82,470.54 14, 545.54 04/23/08 8712.638 shs. Alpine Intl. Real Estate Equity Fund Proceeds 305,900.72 Account Value 363,700.42 57,799.70 04/24/08 678.281 shs. Vanguard Institutional Index Fund Proceeds 85,599.00 Account Value 82,765.29 2,833.71 Page 5 04/24/08 990.807 shs. Bridgeway Ultra Small Co. Market Fund Proceeds 15,734.00 Account Value 19,063.13 5/15/08 FHLMC Gold 6% 2/1/14 Proceeds 447.58 466.65 19.07 05/15/08 3776.608 shs. Bridgeway Ultra Small Co. Market Fund Proceeds 61,672.00 Account Value 72,424.21 05/15/08 1007.281 shs. Vanguard Value Index Fund Signal Proceeds 25,867.00 Account Value 25,985.77 05/15/08 400M par Pacificorp. Mtn. 6.375% 5/15/08 Proceeds 400,000.00 Account Value 400,376.00 06/11/08 9687.836 shs. MTB US Govt Bond Fund Proceeds 90,000.00 Account Value 89,976.95 23.05 06/12/08 3955.736 shs. Ridgeworth SEIX Floating Rate Proceeds 36,551.00 Account Value 37,658.61 06/12/08 4038.741 shs. Bridgeway Ultra Small Co. Market Fund Proceeds 64,741.00 Accout Value 76,051.50 06/16/08 FHLMC Gold 6% 2/1/14 Proceeds 376.28 Account Value 360.91 15.37 06/17/08 2242.928 shs. Vanguard Short Term Bond Index Proceeds 22,519.00 Account Value 22,788.15 06!17108 9170.055 shs. MTB US Govt Bond Fund Proceeds 84, 823.00 Account Value 84,807.33 15.67 Totals Net Loss on Conversions 3, 329.13 10,752.21 118.77 376.00 1,107.61 11,310.50 269.15 107,618.56 217,962.14 $ (110,343.58) Page 6 PRINCIPAL DISTRIBUTIONS DURING PERIOD JULY 1, 2007 TO JUNE 30, 2008 07/20/07 Carlisle Area Health and Wellness Foundation 73,260.67 08/20/07 Carlisle Area Health and Wellness Foundation 73,260.67 09/20/07 Carlisle Area Health and Wellness Foundation 73,260.67 10/22/07 Carlisle Area Health and Wellness Foundation 73,260.67 11/20/07 Carlisle Area Health and Wellness Foundation 73,260.67 12/20/07 Carlisle Area Health and Wellness Foundation 73,260.67 01/22/08 Carlisle Area Health and Wellness Foundation 73,260.67 02/20/08 Carlisle Area Health and Wellness Foundation 67,662.54 03/20/08 Carlisle Area Health and Wellness Foundation 67,662.54 04/21/08 Carlisle Area Health and Wellness Foundation 67,662.54 05/20/08 Carlisle Area Health and Wellness Foundation 67,662.54 06/20/08 Carlisle Area Health and Wellness Foundation 67,662.54 Total Principal Distributions $ 851,137.39 Principal Investments During Period Julv 1.2007 to June 30, 2008 08/02/07 424.866 shs. Vanguard Institutional Index Fund 56,983.00 3768.138 shs. Vanguard Value Index Fund Admiral 101,589.00 18900.969 shs. Federated Strategic Value Fund 116,997.00 4245.743 shs. Bridgeway Ultra Small Co. Market Fund 81,306.00 08/16/07 1239.831 shs. Fidelity Spartan Intl. Index Fund 55,594.00 2393.478 shs. Bridgeway Ultra Small Co. Market Fund 44,040.00 526.03 shs. Alpine Intl. Real Estate Equity Fund 22,472.00 538.887 shs. Vanguard Value Index Fund Admiral 13,941.00 09/05/07 7558.568 shs. Fidelity Spartan Intl. Index Fund 359,939.00 123,939.286 shs. STI Classic SEIX Floating Rate 1,179,902.00 10/30/07 7887.697 shs. Federated Strategic Value Fund 50,008.00 1258.72 shs. STI Classic SEIX Floating Rate 12,197.00 6458.182 shs. MTB US Govt Bond Fund 60,384.00 11/13/07 2771.164 shs. Vanguard Institutional Index Fund 368,925.00 31204.959 shs. Federated Strategic Value Fund 188,790.00 6642.857 shs. Bridgeway Ultra Small Co. Market Fund 123,690.00 11/26/07 20091.487 shs. Federated Strategic Value Fund 115,927.88 12/12/07 238.483 shs. STI Classic SEIX Floating Rate 2,263.20 12/19/07 6443.593 shs. Bridgeway Ultra Small Co. Market Fund 111,989.64 12/24/07 733.921 shs. Alpine Intl Real Estate Equity Fund 28,035.79 12/26/07 382.049 shs. Fidelity Spartan Intl. Index Fund 17,872.23 12/28/07 3943.184 shs. Fidelity Spartan Intl. Index Fund 186,000.00 1508.966 shs. STI Classic SEIX Floating Rate 14,305.00 01/16/08 734.95 shs. Vanguard Institutional Index Fund 92,780.00 1599.259 shs. Vanguard Value Index Fund Signal 40,941.00 14358.99 shs. Bridgeway Ultra Small Co. Market Fund 233,190.00 393.878 shs. Fidelity Spartan Intl. Index Fund 17,500.00 02!12/08 2047.104 shs. Vanguard Institutional Index Fund 250,934.00 1119.051 shs. Vanguard Value Index Fund Signal 27,842.00 18073.534 shs. Federated Strategic Value Fund 95,609.00 3116.016 shs. Bridgeway Ultra Small Co. Market Fund 50,199.00 6867.942 shs. Fidelity Spartan Intl. Index Fund 283,646.00 2113.009 shs. STI Classic SEIX Floating Rate 18,679.00 02/28/08 2751.685 shs. STI Classic SEIX Floating Rate 24,490.00 9458.686 shs. Federated Total Return Bond Fund 100,735.00 5228.405 shs. MTB US Govt Bond Fund 49,513.00 03/17/08 8354.175 shs. Federated Strategic Value Fund 43,024.00 6340.689 shs. Bridgeway Ultra Small Co. Market Fund 95,681.00 1418.998 shs. Fidelity Spartan Intl. Index Fund 60,052.00 Page 7 03!18/08 559.921 shs. Vanguard Institutional Index Fund 2537.389 shs. Vanguard Value Index Fund Signal 04/17/08 1088.523 shs. Fidelity Spartan Intl. Index Fund 2457.466 shs. Federated Strategic Value Fund 30102.437 shs. Federated Total Return Bond Fund 04/24/08 5614.855 shs. Fidelity Spartan Intl. Index Fund 3530.696 shs. MTB US Govt Bond Fund 05/15/08 7485.261 shs. Federated Strategic Value Fund 5707.619 shs. Vanguard Intermediate Term Bond Fund 5898.622 shs. Vanguard Short Term Bond Index Fund 06/12/08 3564.444 shs. Vanguard Intermediate Term Bond Fund 1859.55 shs. Vanguard Value Index Fund Signal 14767.408 shs. Federated Strategic Value Fund 1477.908 shs. Fidelity Spartan Intl. Index Fund 06/17/08 13840.683 shs. Vanguard Intermediate Term Bond Fund 65,617.00 60, 060.00 49, 321.00 13, 000.00 321,193.00 255,139.00 33,471.00 40,121.00 59, 930.00 59, 930.00 36, 892.00 44, 592.00 72, 951.00 64,156.00 141, 867.00 Page 8 300M par Aflac, Inc. 6.50% 4-15-09 200M par General Foods Corp. 7% 6-15-11 $29,260.16 par FHLMC Gold 6% 2/1/14 SADLER FOUNDATION PORTFOLIO CORPORATE BONDS AND NOTES MONEY MARKET FUND Market Value June 30, 2008 306, 030.00 200,164.00 506,194.00 29,965.33 289,494.00 197, 959.54 487,453.54 FEDERAL AGENCY BONDS DOMESTIC EQUITY MUTUAL FUNDS 191950.19 shs. Bridgeway Ultra Small Co. Market Fund 469092.464 shs. Federated Strategic Value Fund 30669.993 shs. Vanguard Institutional Index Fund 99548.068 shs. Vanguard Value Index Fund Cost Basis 28, 064.66 2, 942, 596.41 3, 029, 075.60 2,176,589.03 2,921,568.97 3,587,469.08 3,817,424.84 2,262,727.59 2,656,041.38 10, 969, 382.11 12,424,110.79 INTERNATIONAL EQUITY MUTUAL FUNDS 67826.63 shs. Fidelity Spartan International Index Fund 2,860,927.25 2,765,262.49 FIXED INCOME MUTUAL FUNDS 257168.323 shs. Federated Total Return Bond Fund 2,702,839.07 2,687,561.60 129623.129 shs. MTB U.S. Government Bond Fund 1,213,272.49 1,196,288.52 118587.535 shs. Ridgeworth SEIX Floating Rate High Income Fund 1,091,005.32 1,125,742.92 23112.746 shs. Vanguard Intermediate Term Bond Index 239,216.92 238,689.00 3655.694 shs. Vanguard Short Term Bond Index Fund 36,995.62 37,141.85 MB Money Market Fund CREDITS Bonds: Corporate Federal Agency Bonds Mutual Funds: Domestic Equity Funds International Equity Funds Fixed Income Funds Money Market Fund 5,283,329.42 5,285,423.89 1, 306, 991.50 155, 551.01 $20,956,789.61 $22,297,752.05 Market Value June 30, 2008 Cost Basis 506,194.00 487,898.72 29,965.33 28,064.66 10, 969, 382.11 12, 424,110.79 2,860,927.25 2,765,262.49 5,283,329.42 5,285,423.89 1, 306, 991.50 1, 306, 991.50 $20,956,789.61 $22,297,752.05 Page 9 INCOME ACCOUNT Income Balance as of June 30, 2007 $ 39,045.35 RECEIPTS Corporate Bonds 65,700.00 Federal Agency Bonds 2,011.91 Fixed Income Mutual Funds 319,393.62 Domestic Equity Mutual Funds 341,883.97 International Equity Mutual Funds 77,460.36 Money Market Fund 32,981.12 839,430.98 DISBURSEMENTS Register of Wills -filing 45th Account 430.00 Transferred to Principal 801,093.99 Manufacturers and Traders Trust Company, trustee fees 25,598.96 Income Balance as of June 30, 2008 827,122.95 $ 51,353.38 Page 10 CARLISLE AREA HEALTH AND WELLNESS FOUNDATION SCHEDULE OF DISTRIBUTIONS TO AND EXPENDITURES OF ELIGIBLE ACTIVITIES AS DEFINED BY THE SETTLEMENT AGREEMENT DATED MAY 21, 1991 BETWEEN MANUFACTURERS AND TRADERS TRUST COMPANY SUCCESSOR TO FARMERS TRUST COMPANY (TRUSTEE) AND CHHS FOR THE YEAR ENDED JUNE 30, 2008 CARLISLE AREA HEALTH AND WELLNESS FOUNDATION Distributions July 1, 2007 through June 30, 2008 CARLISLE AREA HEALTH AND WELLNESS FOUNDATION Grants Sadler Health Center, Operations 766,023.61 Grants--Visitins~ Nurse Programs Hospice of Central PA, Compassionate Care Carlisle Community 85,113.78 Total Expenditures COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND $851,137.39 $851,137.39 Before me, the undersigned officer, personally appeared Jane F. Burke, Vice President of Manufacturers and Traders Trust Company, successor to Farmets Trust Company, Carlisle, Pennsylvania, Trustee under the Last Will and Testament of Horace T. Sadler, deceased, who being duly sworn and according to law, deposes and says that the foregoing Account is true and correct to the besk of her knowledge and belief. n /' 1~[At.C~ J ~rL J~ e F. Burke, Vice President Sworn a subscribed to before me thi day ul , 200$ Notary Publi COMMONWEALNo~ ~NNSYLVANI f(~rty J. Laughman, NotaN Publ'~c Carlisle Boro, Cum' ~~ ~~ My Comma Exp Member, Pennsylvania Association of Notaries Page 11