HomeMy WebLinkAbout08-18-08J REV-1500 15056041158
EX (06-05)
PA Department of Revenue OFFICIAL USE ONLY
Bureau of Individual Taxes County Code Year File Number
PO BOX 280601 INHERITANCE TAX RETURN 21 07 0567
Harrisburg, PA 1 7 1 28-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of peach Date of Birth
162-22-3781 05202007 04251923
Decedent's Last Name
EBERLE
Suffix Decedent's First Name
RUTH
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name
Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
- - REGISTER OF WILLS
FILL IN APPROPRIATE BOXES BELOW
^X 1. Original Return
^ 4 t
Li
i
d E
. m
te
sta
e
6. Decedent Died Testate
(Attach Copy of Will)
^
9. Litigation Proceeds Received
2. Supplemental Return
^ 4a. Future Interest Compromise (date of
death after 12-12-82)
7. Decedent Maintained a Living Trust
(Attach Copy of Trust)
^ 10. Spousal Poverty Credit (date of death
between 12-31-91 and 1-1-95)
MI
N
MI
^ 3. Remainder Return (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
],_ 8. Total Number of Safe Deposit Boxes
^ 11. Election to tax under Sec. 9113(A)
(Attach Sch. O)
CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
STANLEY A• SMITH, ESQUIRE 717-233-5731
Firm Name (If Applicable)
REGISTER OF WILLS USE ONL~1r
RHOADS & SINON LLP `-'
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First line of address ~ ' ~~ iz~-
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ONE SOUTH MARKET SQUARE ~<`:~~~ ---
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Second line of address ; -, ;-_;
-- Sm
P• 0- BOX 1146 -~c`=_,; =~=
l
City or Post Office State ZIP Code T~EfILED ~~
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I17
HARRISBURG PA 17108-1146 ~-~
Correspondent's a-mail address: S S M I T H a~ R H 0 A D S- S I N O N C 0 M
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, cor~ct and complete. Declar~Jion of preparer other than the per~eriab~epresentative is based ~ alll^r>~rmat~n of which preparer has any knowledge..
~/ORHOADS 8 SINON LLP, PO BOX 1],46 HARRISBURG, PA 177,08-1146
SIGNATURE OF~R6~~&E~OTH~R THAN REPRESENTATIVE DAB `' ~`
RHOADS ~ SINON LLP, PO BOX 1146 HARRISBURG, PA 17108-1146
PLEASE USE ORIGINAL FORM ONLY
Side 1
15056041158 6M46473.000 15056041158 J
_J 15056042159
REV-1500 EX
Decedent's Social Security Number
162-22-3781
Decedent's Name B E R L E RUTH N
RECAPITULATION
1. Real estate (Schedule A) 1 • D • D D
2. Stocks and Bonds (Schedule B) . 2. D , D D
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) • 3. 7 6 0 • D D
4. Mortgages & Notes Receivable (Schedule D). 4. 5 D 5 D 9 3• 7 2
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E). 5. 4 39 4 2 • 15
6. Jointly Owned Property (Schedule F) ~ 5eparate Billing Requested . 6. D • D D
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) ~ Separate Billing Requested 7. 9 4 81} 6 2 • 2 8
8. Total Gross Assets (total Lines 1-7). li• 14 9 82 58 • 15
9. Funeral Expenses & Administrative Costs (Schedule H) . s. 6 3 2 8 2 • 7 6
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I). 10. 4 9 6 8 4 • 7 9
11. Total Deductions (total Lines 9 & 10) . 11. 112 9 6 7 • 5 5
12. Net Value of Estate (Line 8 minus Line 11) 1 z. 13 8 5 2 9 0 • 6 D
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made (Schedule J) • 13• 0 . D D
14. Net Value Subject to Tax (Line 12 minus Line 13) 1a. 1385290 • 6D
TAX COMPUTATION -SEE INSTRUCT{ONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2) X .00. D• D D 15• D• D D
16. Amount of Line 14 taxable
at linealratex.otl5 1385290.6D 16. 62338.08
17. Amount of Line 14 taxable
at sibling rate X .12 ^ • D D 17. D • D D
18. Amount of Line 14 taxable
at collateral rate X .15 D, D D 18. D• D D
19. TAX DUE 1s. 62338.08
20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
Side 2
15056042159 6M46482.000 15056042159
REV-1500 EX Page 3
~a1_ A_.Y.~I~a~ AJJ..~~~.
File Number
^567
•r•
DECEDENTS NAME
R R TH N
STREET ADDRESS
C M RLAN
CITY STATE ZIP
MECHANICSBU G '
Tax Payments and Credits:
1. Tax Due (Page 2 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit D • D D
B. Prior Payments 6 0 3 9 D• 61
C. Discount 2 8 9 5• D D
3. InterestlPenalty if applicable
D. Interest D • D D
E. Penalty D • D D
(1) 62338 • D8
total credits (A + s + c) (2) 6 3 2 8 5.61
Total InterestJPenafty (D + E)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in box on Page 2, Line 20 to request a refund.
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
(3) D • D D
(4) 947.53
(5) D • D D
(5A) D • D D
B. Enter the total of Line 5 + SA. This is the BALANCE DUE. (56) D • D D
Make Check Payable to: REGISTER OFWILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and:
a. retain the use or income of the property transferred; .. ^
X
b. retain the right to designate who shall use the property transferred or its income; X
c. retain a reversionary interest; or . .. ~ X
d. receive the promise for life of either payments, benefits or care?
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? . . ~ O
X
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which ^
contains a beneficiary designation?
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 (O) percent
[72 P.S. §9116 (a) (1.1) (ii)]. The statute aloes not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for 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. §9116(1.2) [72 P.S. ~9116(a){i )].
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)J. 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.
sMas~i i.ooo
REV-1504 EX*(8-98) SCHEDULE C
COMMONWEALTH OF PENNSYLVANIA CLOSELY-HELD CORPORATION,
INHERITANCE TAX RETURN PARTNERSHIP ORSOLE-PROPRIETORSHIP
ESTATE OF
Ruth N Eberle 21070567
Schedule C-1 or C-2 (including all supporting information) must be attached for each closely-held corporation/partnership interest of the decedent, other than a
sole-proprietorship. See instructions for the supporting information to be submitted for sole-proprietorships.
ITEM VALUE AT
NUMBER DESCRIPTION DATE OF DEATH
~' 20 units, Capital Realty Investors-II Limited
Partnership, a public limited partnership
The value of these units is based upon information
provided by the partnership administrators, who also
stated that the partnership is terminating and preparing
to make final distribution to the partners. 760.00
TOTAL (Also enter on line 3, Recapitulation) I $ 760.00
swass> >_ooo (If more space is needed, insert additional sheets of the same size)
REV-15(]7 EX+ (698)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE D
MORTGAGES & NOTES
RECENABLE
ESTATE OF FILE NUMBER
Ruth N Eberle 21 07 0567
All properly jointlyowned with right of survivorship must he disclosed on Scfiedule F.
ITEM I VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1 (Demand Note from David Eberle ~4.73~
Interest accrued to 5/20/2007
2 (Demand Note from Raren Eberle C~4.73~
Interest accrued to 5/20j2007
TOTAL (Also enter on line 4, Recapitulation) $
236,500.00
5,796.86
257,000,00
5,796.86
505,093.72
3wasAC i.ooo (If more space is needed, insert addRional sheets of same size)
REV-1508 EX+ (5-96)
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC.
INH~EERS DENT DECEDENTRN PERSONAL PROPERTY
ESTATE OF FILE NUMBER
Ruth K Fsberle 21 07 0567
3Wa6AD t.oOD (If more space is needed, insert additional sheets of the same size)
REV-1510 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
ATE OF
Ruth N Eberle 21 07 0567
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEEP is yes.
ITEM
NUMBS DESCRIPTION OF PROPERTY
INCLIDE TFE NOME OF TFE TRP,NSFEREE, THEIR RELATIONSHIP TO OEGEDENr AND
TFE OATS OF TRANSFER ATTACHA COPY OF THE OEED FOR REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET
% OF DECD'S
INTEREST EXCLUSION
lF APPLICABLE TAXABLE
VALUE
1• 10/11/2006, Cash gift to
decedent's granddaughter,
Taylor Eberle 11,000.00 100.0000 3,000.00 8,000.00
2 lj9/2007, Cash gift to
decedent's granddaughter,
Taylor Eberle 12,000.00 100.0000 3,000.00 9,000.00
3 1/9/2007, Cash gift to
decedent's son, David Eberle 12,000.00 100.0000 3,000.00 9,000.00
4 1/9/2007, Cash gift to
decedent's daughter, Karen
Eberle 12,000.00 100.0000 3,000.00 9,000.00
5 Decedent entered into a
revocable trust under Trust
Agreement dated June 18, 1986,
as amended December 29, 1987
and June 22, 1989.
Copies of the agreements and a
listing of trust assets valued
as of date of death are
attached as exhibits to this
return. 913,462.28 100.0000 0.00 913,462.28
TOTAL (Also enter on line 7, Recapitulation) I $ 948, 462.28
(If more space is needed, insert additional sheets of the same size)
3W46AF 1.000
REV-1511 EX + (10-06)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
ESTATE OF FILE NUMBER
Ruth N Eberle 2107 0567
Debts of decedent must be reported on Schedule 1.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
f. Rolling Green Cemetery
Grave monument 1,626.00
Total from continuation schedules .
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative(s)
Street Address
City State Zip
Year(s) Commission Paid:
2. Attorney Fees
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent
4. Probate Fees
5. Accountant's Fees
6. Tax Return Preparer's Fees
7.
1 Rhoads & Sinon LLP
Reimbursement for out-of-pocket expenses
Total from continuation schedules .
TOTAL (Also enter on line 9 Recapitulation) ~ $
7W46AG 1.000 (If more space is needed, insert additional sheets of the same size)
12,369.12
37,500.00
159.00
750.00
10,878.64
63,282.76
Estate of: Ruth N Eberle
Schedule H Part 1 (Page 2)
Item
No. Description
2 Rolling Green Cemetery
Grave opening
3 Parthmore Funeral Home
Funeral and burial services
4 Refreshments for funeral wake
162-22-3781
Amount
1,195.00
10,300.35
873.77
Total (Carry forward to main schedule) 12,369.12
Estate of: Ruth N Eberle
Schedule H Part 7 (Page 2)
162-22-3781
2 Reserve: Filing fees for Court accounting for the
Ruth Eberle Revocable Trust 1,000.00
3 The Patriot News Co.
Advertising grant of Letters Testamentary 188.22
4 M&T Trust Company, Trustee' fees for the Ruth Eberle
Revocable Trust, 1/OS - 7/2008 3,417.09
5 M&T Trust Company, Trustees' fees for the John
Eberle QTIP Trust, 1/1/2008 - 7/7/2008 6,273.33
Total (Carry forward to main schedule) 10,878.64
REV-1512 EX + (12-03)
SCHEDULEi
COMMONWEALTH OF PENNSYLVANIA DEBTS OF DECEDENT,
INHERITANCE TAX RETURN & LIENS
MORTGAGE LIABILITIES
RESIDENT DECEDENT ,
ESTATE OF FILE NUMBER
Ruth N Eberle 21 07 0567
Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1• Messiah Village
Balance due 19,068.66
2 FIA Card Services, balance due on credit card account 341.00
3 Capital Area Health Associates, balance due 59.79
4 Alert Pharmacy, balance due 271.85
5 United States Treasury, 2007 Federal income taxes 22,090.00
6 Check clearing MtrT checking account after death 300.00
7 Pennsylvania Department of Revenue, 2007 income taxes 5,272.00
8 United States Treasury, tax and penalty due, decedent's
2006 Federal income tax return 1,649.97
9 US Treasury, tax due, 2007 final Federal 1040 431.52
TOTAL (Also enter on line 10, Recapitulation) $ ~ 49
3W46AH 2.OD0 (If more space is needed, insert additional sheets of the same size)
REV-1513 EX+ (9-00)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
SCHEDULE J
BENEFICIARIES
ESTATE OF FILE NUMBER
Ruth N Eberle 21 07 0567
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
1 TAXABLE DISTRIBUTIONS (include outright spousal distributions, and transfers
under Sec. 9116 {a) (1.2)]
1 GST EX Trust for the benefit of
David O. Eberle under ARTICLE SIXTH
(b) of the Ruth N. Eberle Trust II/A Trust 669,306.42
2 GST EX Trust for the benefit of
Karen A. Eberle under ARTICLE SIXTH
(b) of the Ruth N. Eberle Trust II/A Trust 669,306.43
3 David O. Eberle
1018 Chelmsford Drive
Mechanicsburg, PA 17050
1/9/2007, Cash gift to decedent's
son, David Eberle
Inventory Value: 9,000.00
Gold coin collection
Inventory Value: 5,838.87 Son 14,838.87
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 1 S, AS APPROPRIATE, ON REV-1500 COVER SHEET
NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR W RICH AN ELECTION TO TAX IS NOT BEING MADE
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET ~ $ 0 . 0 0
(If more space is needed, insert additional sheets of the same size)
3 W 46AI 1.000
Estate of: Ruth N Eberle
Schedule J Part 1 (Page 2)
162-22-3781
Item
No. Description Relation Amount
4 Karen A. Eberle
1409 Harwich Court
New Cumberland, PA 17070
1/9/2007, Cash gift to decedent's
daughter, Karen Eberle
Inventory Value: 9,000.00
Gold coin collection
Inventory Value: 5,838.88 Daughter 14,838.88
5 Taylor A. Eberle
1018 Chelmsford Drives
Mechanicsburg, PA 17050
1/9/2007, Cash gift to decedent's
granddaughter, Taylor Eberle
Inventory Value: 9,000.00
10/11/2006, Cash gift to decedent's
granddaughter, Taylor Eberle
Inventory value: 8,000.00 Daughter 17,000.00
ESTATE OF RUTH N. EBERLE
SSN: 1 b2-22-3781
DOD: 05/20/2007
PENNSYLVANIA INHERITANCE TAX
INDEX TO EXHIBITS
1.
2.
3.
4.
Document
Return Reference
EXTENSION LETTER FROM PA DEPARTMENT OF REVENUE
Last Will and Testament Page 1, line 6
Valuation of coins Schedule E, Item 1
The Ruth N. Eberle Agreement of Trust
and Amendments Schedule G, Item 5
5. Valuations for the assets of the Ruth N. Eberle Trust Schedule G, Item 5
March 10, 2008
' COMMONWEALTH OF PENNSYLVAN{A
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
PO Box 280601
HARRISBURG, PA 17128-0601
Rhoads & Sinon LLP
One South Market Square, 12th FI.
PO Box 1146
Harrisburg, PA 17108-1146
Telephone
(717) 787-3930
FAX (717) 772-0412
Re: Estate of RUTH N. EBERLE
File Number 2107-0567
Dear Sir or Madam:
This is in response to your request for an extension of time to fife the Inheritance Tax Return for
the above estate.
In accordance with Section 2136 (d) of the lnheritance and Estate Tax Act of 1995, the time for
filing the return is extended for an additional period of six months. This extension wi{I avoid the
imposition of a penalty for failure to make a timely return. However, it does not prevent interest from
accruing on any tax remaining unpaid after the delinquent date.
The return must be filed with the Register of Wills on or before 08/20/08
. Because Section 2136 (d) of the 1995 Act allows for only one extra period of six (6) months, no
additional extension(s) wilt be granted that would exceed the maximum time permitted.
Sincerely,
~~. ~ - 1~v(X}//~~
y /~ /
Claudia Maffei, Supervisor"
Document Processing Unit
Inheritance Tax Division
LAST WILL
OF
RUTH N. EBERLE
Dated: C~, .L r~L ~~' 1985.
FIRST EXECUTOR: JOHN E. EBERLE
SUCCESSOR EXECUTOR: KAREN A. EBERLE
and
DAVID 0. EBERLE
ALTERNATE EXECUTOR: DAUPHIN DEPOSIT BANK
AND TRUST COMPANY
HARRISBURG,
PENNSYLVANIA
~~ - ~' ~.
RNE
rx.~~ rxx~d C~.e~.~rxxr~.err,~
.Dr~
RUTH N. EBERLE
I, RUTH N. EBERLE, a legal resident of Cumberland County, Pennsylva-
nia, revoke all prior Wills or Codicils and make this Last Will.
ARTICLE 1
1. 1) I appoint as Executor, without bond, my husband JOHN E.
EBERLE. Upon his failure to qualify or the termination of such
duties then my son DAVID O. EBERLE and my daughter KAREN A. EBERLE
shall be substituted as Executors, also without bond; or if either
one fails to qualify or becomes incapacitated, resigns or dies then
the surviving child shall continue as sole Executor.
1. 2) Notwithstanding the provisions of Article 1.1), if my
husband survives me and could qualify as Executor but decides that
such office could be filled better by a corporate executor then he
may decline and DAUPHIN DEPOSIT BANK AND TRUST COMPANY, Harrisburg,
Pennsylvania shall be substituted as Executor; or, if my husband fai
to survive me, or survives but fails to complete his duties as Exe-
tutor, and my children or one of them could qualify as substituted
Executor(s) but decline for any reason or become incapacitated, re-
sign or die before one of them completes the duties of such office,
then said bank shall thereupon become substituted Executor.
ARTICLE 2
2.1) Except as may otherwise be directed in a written memorandum
signed by me, I give and bequeath to my husband JOHN E. EBERLE, if
he survives me by sixty days, all of my tangible personal property
and personal effects and all insurance policies thereon, with the re-
quest that he distribute such items that he does not desire or need
among our two children.
2. 2) I further give and bequeath to my husband all of my house-
hold furniture and furnishings located in our home at 617 Allen 5tre
New Cumberland, Pennsylvania 17070, or in such other home in
Page One
i/ ~ ~•
P,NE
Pennsylvania that we may occupy at my death, if he survives me by
sixty days.
2.3) I also bequeath to my husband all furniture and furnishing
in our winter residence at 144 Regent's Court, Melbourne, Florida
32940, or in such other Florida home as we may occupy at the time of
my death.
2.4) If my husband fails to survive me or dies within sixty day
of my death, then all property described in Article 2.1), 2.2) and
2.3) is hereby devised in equal shares to our two children, or if
either is deceased then to his or her issue per stirpes, or if none
then to the surviving child, except as may otherwise be directed in
said written memorandum signed by me.
ARTICLE 3
3.1) All death taxes upon or in relation to any of my property,
whether passing under this Will or otherwise, as well as debts and
expenses of administration shall be paid out of my probate assets,
except tangible personal property, without contribution or reimburse
ment by any beneficiary or recipient; if such assets are insuf-
ficient therefor my executor may call upon the trustee of a herein-
after mentioned trust for the sums needed.
3, 2) Notwithstanding the provisions of Article 3. 1) above, if
any Qualified Terminal Interest Property passing under my husband's
Trust or Will is included as a part of my taxable estate by reason
of my life income from such QTIP assets, then I direct that the shar
of my taxes applicable to such QTIP assets shall be paid therefrom
rather than from my own probate or trust assets.
3, 3) My executor shall file with Internal Revenue Service an
election to have such marital share treated as Qualified Terminal
Interest Property for the marital deduction for Federal Estate Tax
purposes, EXCEPT if in the judgment of my executor there would be
more than nominal savings for the estates of myself and my husband
to elect to have less than all of the marital share treated as Quali
fied Terminal Interest Property then said executor may file the
Page Two
=~ . ~j . ~'
RLVE
election as to only a specific portion of such marital share.
If such election could more properly be made by my executor
joining therein with the trustee of my trust described in Article
5. 1) said executor shall do so; or, my executor may authorize such
election and filing by said trustee alone if under the then applic-
able provisions of the Internal Revenue Code such procedures can
effectively be taken by said trustee.
ARTICLE 4
4.1) In addition or supplemental to the powers provided by law,
as amended, my executor in the prudent exercise of discretion and
good judgment, and without order of court, may:
A. Sell, at public or private sale, or option, any property for
cash or upon reasonable terms and security; and, execute leases on I'
any trust property upon such terms and conditions and for such peri-
ods of time as trustee deems proper and desirable.
B. Invest in all forms of property (including, but not by way
of limitation) real estate, all types of stocks, bonds, options and
money market accounts without being confined to investments pre-
scribed by statute, and without being required to have the extensive
diversification that otherwise may be usual or customary for trusts
of this size. And, Common Trust Funds maintained by any corporate
executor may also be invested in except that any fund of equities
(common stocks or similar securities without fixed dividends) may be
,purchased only for a trust, or trust share, having a total fair
market value of less than Four Hundred Thousand Dollars.
C. Place securities in a margin or brokerage account and main-
tain money-market accounts upon which checks or drafts may be drawn.
D. Delegate trading authorization to investment advisors,
(brokers or agents and authorize them to sell and reinvest any assets
on a discretionary basis; and pay reasonable compensation therefor.
E. Borrow money from the commercial department of my corporate
executor or others, upon reasonable terms, and mortgage, hypothecate
or pledge assets as security therefor, including short selling and
Page Three
~~- ~- ~'.
ANE
contracts for the future delivery of any security.
F. Enforce or compromise claims against others; and, settle or
pay demands that executor deems proper.
G. Manage, repair or improve probate assets.
H. Execute and deliver such instruments as may be necessary to
effect all duties and undertakings herein.
I, Employ lawyers, accountants, agents or other assistants
necessary to the proper administration hereof, and pay reasonable
compensation for such services.
J. Vote and otherwise exercise all rights and options incident
to the ownership of stocks, bonds and other securities and hold title
in the name of a nominee.
K, Purchase property from anyone, including a beneficiary, at
a price and upon terms determined by executor to be fair,
L. Pay premiums on any type of insurance policies retained or
purchased herein, and exercise any rights thereunder,
M. Open checking and savings accounts, make deposits therein,
and draw checks or other debits against such accounts.
N. Distribute assets in cash or kind or partly in each.
O. Retain assets already a part of my probate estate, PROVIDED
HOWEVER, that inasmuch as more than sixty percent of my present total
assets consist of common shares in AMP, Inc. (including AMP, :Cnc,
"endorsed common shares") a Delaware corporation having its principal
place of business in Harrisburg, Pennsylvania, I urge, but do not
direct, that my executor proceed in an orderly but not precipitous
manner to sell such part or all of said shares that may be among my
probate assets so that, when combined with the remaining shares in
the hereinafter mentioned trust, the total thereof will have been re-
duced by at least fifty percent. This request is made, not because
of my lack of faith in the continued growth of AMP, Inc. with which
my husband has long been associated, but in recognition of the fact
that sales can bs made after my death without large capital gain
taxes to assure funds for more diverse investments and to provide
liquidity in my estate and cash to pay at least part of the with-
r/ • ~'
Page Four
RNE'
drawals to which my children become entitled under said trust,
ARTICLE 5
5. 1) I devise and bequeath the residue of my probate estate to
DAUPHIN DEPOSIT BANK AND TRUST COMPANY, Harrisburg, Pennsylvania
17105, as successor trustee to be added to the trust created by me
as Settlor with myself as Trustee, said Trust Agreement beiny dated
Qz~~,J2 ~,~' 1986, or as the same may be amended at the
date of my death.
WITNESS my hand and seal this /~ day of , ~.-~~-,,-~ 1986.
RUST I N. EBERLE, Testator
We, the undersigned witnesses, hereby certify that the foregoing Will
was willingly signed, sealed, published and declared by the above-
named Testator as and for her Last T4i11 and Testament, in the pres-
ence of us, who, at her request and in her presence and in the pres-
ence of each other, have hereunto set our hands and seals the day and
year first above written, and we certify that at the time of the exe-
cution thereof, the said Testator was of sound and disposed mind
and memory. ~'~" ,~// //~~
c~-^~ (SEAL) Residing at ~~7 f r!__~~~
~ '-'
~ P//~~~ /G~~i/ti//1/ , (SEAL) Residing at
i71~~ /'/
COMMONWEALTH OF PENNSYLVANIA)
COUNTY OF DAUPHIN ) We, RUTH N, EBERLE, /~/C~/S ~} C;-4~7,'
ands ~{/LL,/.p T)UA/AJ the Testator and the witnesses respec-
tively, whose names are signed to the foregoing instrument, being
duly qualified according to law, do depose and say that we were pres-
ent and saw the Testator sign and execute the instrument as her Last
Will; that the Testator signed willingly and executed it as her free
and voluntary act for the purposes therein expressed; that each sub-
scribing witness in the hearing and sight of the Testator signed the
~iWill as witnesses; and that to the best of our knowledge the Test-
iator was at that time eighteen or more years of age, of sound mind
land under no con~str~aint or undue influence.
Ilr.
I ~ <1~"~
Witness ~ ~~~~ ~, ~~~~` (SEAL
~ ~ RU H N. EBERLE, Testator
~~~ L _ -.~GGLI~,
/ ~ 4~~fness
G~'
SUBSCRIBED AND SWORN to before me a Notary Public in and for said
Commonwealth and County this / ~ day of , 1986.
C~~ Notary Public
MM2V APIN ~PJnEkSON, NOTARY FUyLIG
MY Commission Exp: res Oclnhcr 30, 1988
flarrisLurg. PA Oau phin County
Page Five
CODICIL
TO THE LAST WILL AND TESTAMENT
OF
RUTH N. EBERLE
=:, RUTH N. EBERLE, of New Cumberland, Cumberland County,
Pen-~s,•l~aani.~i, being of sound and disposing mind and memory, do
make:, publish and declare this to be a Codicil to my Last Will and
Test: ;,;Y.ent= ~~.a.ted June 18 , 19 8 6 .
?TEM I: I hereby revoke Article 3.3) of
mY s~.~=~d La.=t Will and Testament and in lieu thereof substitute the
follca4ling~ .article 3.3) :
3.3 My executor shall file with the Internal
1<eve:nue Service an election to have the assets passing
und.e:r F~aragrap~ FOURTH of the trust described in Article
`_~ , 1;1 of this Will as Qualified Terminal Interest Property
f'~~r pur_poses of qualifying for the marital deduction for
:EE~der.al Estate Tax purposes, EXCEPT if in the judgment
off' my executor there would be more than nominal savings
fc~r the estates of myself and my husband to elect to have
a.eas than all of the assets passing to my husband treated
i3s Qua_lified Terminal Interest Property then said
execuutoi- may file the election as to only a specific
Page :T. ~~•f ,? pages
-~
portion of the aforesaid assets passing under said
Paragraph FOURTH of the above referenced trust. If such
election could more properly be made by my executor
joining therein with the trustee of my trust described
in Article 5.1) of this Will said executor shall do so;
or, my executor may authorize such election and filing
by said trustee alone if under the then applicable
provisions of the Internal Revenue Code such procedures
can effectively be made by said trustee.
IN WITNESS WHEREOF, I have hereunto set my hand and seal
to this Codicil to my Last Will and Testament, consisting of this
and the preceding one (1) page , this ~~ y-~ day of `~ r,~-; .=-~'
w
Page 2 of 2 pages
, 1989. _ - r '•
,'~-/~~%. ~!,~; `".%' ,~ • ~^J'..i~~,` ( SEAL )
Ruth N. Eberle J
We, the undersigned, hereby certify that the foregoing Codicil
was signed, sealed, published and declared by the above-named
Testatrix as and for a Codicil to her Last Will and Testament, in
the presence of us, who at her request and in her presence and in
the presence of each other, have hereunto set our hands and seals
the day and year above written, and we certify that at the time of
the execution thereof, the said Testatrix was of sound and
d'sposing min and memory.
.~L.. ~~, ~ "tip--~- (SEAL) Re ' din at: _
~x:a ~ ~~%~, ~:~~2~U (SEAL) Residing at: ~~~ ~;~ ~""'
~ `-~-;i~ sr i~ fir- ! ? ~1~ ;:~
~~,xY: ~ w;i.~it~ ~~ . ^' {~ (SEAL) Residing at: ~(~ ~ , - ~ , ~'•' ,~,~
4~~ T
;;il 15 08 02:09p
Brian Mcpherson
717728930 p,1
.. ~~~jer~a~ & ~tCo.
Gemologists ~ Apptraisers .
73D NeAh Fraat Shret Whmdrys6tag, PA -?~ 6asio~s: (717) i31-3510 e9. far (7I7) 73l-33 [9 ffi mephaacrtandeo@peonlioe.com =*• ~vww.meQhasoamdeompmyram
~~f`~~
~e .~ ~~~ re~-.1 ~ ~ert~
~~
~~ Y ~
lul 15 08 02:09p
' tD
Brian Mcpherson
197'8 Ta~ris ~ Cam
50 Grv~rn
71 n2s93o
p.2
• ~. ICIi1 PR ~Ii1NT-
DESCR(PTlON ' ; NO. 1+10. AGE WGT~• PURITYAG1Af(ozj
9o caa+ Beef set - ?fir aruw i
` .
PS10
as E~®b~e~ 0 ~orora~on `
Uon of Enplond right '~ ~ i • ~ 94 B7 2B1 9.0000 Oft) O.t447 ~ `~ c~ c-~
GriRin of Edw®rd IN lest ~ i 35 67 296 9.OOOQ 0.5000 0.1447
Red tkagon of Wales Ielt ~ r ' 36 • 86 286 1000D 0.5000 0.1447
~ G~yfrc~ufd <>f Rlcfer+and !'j ~ 37 68 270 10000 0_.=,000 0.1447
The Uaioorn as Soothed right ,
~ i , . 38 87 2B8 x01000 0_so0o 0.1447
Ifvhite tiorea as }herr~vet teat ; ; 39 87 2eB 9.0000 o~oaa a~447
Bhdc t3W1 of Ohreaoa left ~ ; ~ ~ 67 2B9 x0000 O~:NB 0.144T
Yale of Betrfart lalt ~ ! 4.1 67 254 x0000 0.Ei000 0.144E
Fatoan of the Ply rig14 F ~ 42 67 265 9.0000 0.5000 D.1447
WI'fit8 [.iori of MorBmer Idt : 43 B8 2B5 9.0000 0.5000 0.144T
ProaF S~ ho?.~ Price
Proof Set 1fai~e i
f 984 FtW ;3r8i.4h Flora-Cie~ger l'l~omas ' 1 39 B8 25 7.1000 0.9000 Q2054 ! ; t, =
Virgin 1 5400
19'84 FM 8ritistr • Flora-G~ Tfuerrare ~ ' t 39 08 ?5 7.1 OOa Q.tt000 0201• I ! U '~
1~ugin !lands Sa DO
1989 Altrartia 20 Lela 5{mttr AMnr_ - DeeEtiE of Prltice : i _51.3. 65 24 3.1500 fl.9000 _0.1143 ~ ~ ~
1978 Cayrr~ fsta~~s 6 ~ Carnr®Uan Set -25th ', i
S5D Arerar o~ B®6~~ p Caror~adion
The Arnpta~ , t
Rayes Orb
St Ed+ward's Crarm
Coror~on Cf~ir
sospler ~ i
s~
ProaF Set ls9ue Price
Pr+ooF Sat Msieet Vdue
. ~~:~ f
~ ~ '~i
PSiT
41 BS 771 i1~100 0.5000
43 68 77'1 11.5400 0.500Q
44 88 771 T 1.3400 0..000
45 67 771 11.3400 0.5004
46 Bs 771 11.3400 0.5000
47 68 771 1'[_3400 0 ~M!
Page Total 1756.00
0_'1829 ! J ~ o
0.1823 c ~ . ~,
0.1823
ais2s
aisz3
D.18~3
~I: 1 b 08 02:10p
Brian Mcpherson
717728930
p,3
1~1-R Haiti 4 out of 7 coin Set -10Efr ~krunr ~ PS20
Arrniverarary Set of Presidency of Jean Claude
i?uva6er
158
159
f60
5006 Sun abv Fanner on Tractor 161 67 7 0 7.0000 0.9000 0.025 / ~ ;
`~G Ptartts 162 64 'FO 7_0000 0.9000 O.ZQ25 ,~
s00G Hanresl5ecs f63 63 14 7.0000 0.800D 0.2025 "
10006 314udes and Ftag 164 S6 1D 14.0000 l}.9000 0.4051 ~
7986 Lesaf-ro Pattern 3 of 4 coin Pattern Se#
Set 2 Msbti PnB 66 7 7.99 0.9150 0.23 ~ 3 ~`'
4 Makrti Pn7 86 7 15_98 0.9f~ 0.47 L7 0
10 fNala6 Prr6 68 7 39.94 0.9f50 1.98 ~ 7; '~
est
7986 o PadJ~m 4 coin PaitErn Set pS2 a
set 2 tLfsiv6 Pn6 85 7 7.99 0.9160 0.23 ~
4 Malo~r
Pn7
65
7 18,96
0.9150
a-47 Y
27
1D BAa[cti
Pn8
65
7 39,94
Q91i30
1.18 ~ (;73
"''
2D hAaloti Prt9 65 7 79.68 0.9160 235
~ a
ro~-
Proaf Set issue Price _
ProaF Sat tLtarkat Value
197T tC~l-taiti'Pn~af 8 ooin Indian Grief Pr~ooFSet P511
Set 1 QO Lourdes _. _5eminofe Tritsal •cltie~t'- Osceola = , 90 • 68 435: •79:75.60 0.9000 0.5715 ~ s 2- °7 ~
Sioux Chief - Sitfisrp 13uB 91 68 475" 19:T500~~ 0.9000 •~.: .O.ST75 ~ ~ •
Fox Ctief -Playing Fax 92 68 425 19.7300 09000 0.57f5
Chtricatws Ctaef - Cserarvma 93 68 520 (9.7500 0.9000 0.57115
Seminde CttieF- BiDy BawJegs
94
67
42~ 79.7500
x_9000
x5775 ~oc~r
Nei Perce Chief - .foseph 95 68 X155 19.7500 Q.9000 0.5715
Yankton Sioux Chief -War Eagle 96 67 45b 18.7500 (}.9000 0.5715
Oglala $IOUx Chief -Red Cbud 97 t37 455 19.7500 0.8000 •0.57(3
Cherokee Ci`aef - S'talldr~g Turkey 96 BS 423 19.7500 Q9L7b0 0.579
Pn~af Set Issue Price
Proof Set Maaiaet Vaiue
1992 cook istands $50 5JB coin Enda~rgered Wikttr'fe setm
i 992 Proa~f Eagles Heed 929. 68 7.7760 Q_5830 0.9458 ~ ~
1892 Prod E7e~aM Head 931 138 7.7760 0.5830 0.1458
i 942 Proof Tiger Head(NGssing~ 132 7.7760 0.5830 0.1456 ti ~ "~
199;3. Big Hom Sheep Head ~ 68
1 g92 Panda .... 68 .
1992 Bird(unl~owir} ~~ - 68
Page Total 7206.00
lul 19 08 D2:10p Brian Mcpherson 717728930 p.4
1950(a) Manaco nc~t in D?Kratrtse
~ 63
450 0-g p.
I v~.
ESSA1 ~ Piefcrt Set 1 Q Franc PE7 63 450 0.9
~ ~
20 Franc
50 Franc PE8 B+4 450 0.9 .~
100 Franc PE9 63 450 0.9 '3 s a?
y 97'8 Turks ~ Cams not ~ ~~ PS9
25 Craws Silver Set 10 c:ona'~Beasts Set - 25Eh Mrnr
Uncertified SBvar of Ef¢abeth i{ Coronaiion ~~ 0.925
_ The Iriom of d 925
0
~1re Gi'If~iR C1f Edrrar'd 111 ~
~ .
0.925 ,~,/p c~ ~ ~ ,cti
The Red Dr'Igon of Wales 925
4
T#ae ~A1~e~C:t~t#~r~urd af~chrr;and 27 .
The Unicorn of Sco@and 28 0.9125
The WFirbe Horse of Hannover 29 0.925
Tae 63adc ~ of darenae 30 0-~
The Yste of eeulrort 31 D. S2S
The Faioon of the Plarrtager~ 32 0.925
~e e ~ aN ~lortin~er 33 4.925
proof Set Issue Price
Proof SrEt Market Value
Page Total 75.00
ui 15 08 02:10p Brian Mcpherson 717728930
1992 Bahamas 3 coin Wang Fl~nir+go Set PS29
Flamigo Proof Set wl Silver Ingot as Cer~c~ of
qutheniicity & wand box b
Flamingo bo~oldet
$ p~ 192 68 7513 1.5550 0.5000
10 D~otfar 183 l37 750 3. t~50 0.5000
25 D~ilar 19d 57 ?5Q ?.8~iao a5ooa
Silver ingot (gold plated?) Sl `v-` ,-`
PraoF Set lsw~ Price
Proud Set Marrk~at Value
2000 lilaeris Piefort S25 American Quarter Horse X17 of 55 P4 58 55
not in Krause
1971 IC Flaiti 10 9 coin lr~an Chief S'ih-er Sei< PS10
Lourdes $llyer Set wl vinyl case Chefs indiers Amerrcains
psceoaa Seminole 79 67 3535
SiEtirtg Buti 5raux 80 67 3185
Playing Fox Fauc 81 65 3035
Geronirno Chirrraf~ua 82 66 32135
Billy Bowlegs Sanionde War t33 t36 3735
Joseph Nez'P'eroe 84 ~tj6 3235
1Nar Eagle Yarr[~on Sloux li5 65 31135
Red Claud Ogla[a Siou~c •86 6'7' 3235
S'taHcing Turkey Cherokee ~ ~ 87 i3B 3185
p.5
0.0250 t j ~
0_Q5Q5 3 0
0.9?S8 -~ 5 ~
j~~
0.9999 0.0'1 ZS
0.999 l ~„~>-
t}.999
x.999 E ter. --''
0.999
0.989
fl.999
x999
G:999
0.999
Prooi Set sue ~Pnc2 . • ~ - • .. ~ -.. ~ . - .
Proof Set 14hrkaQ Valve ~ ~ .. -
Ntarch 1994 Bahamas Rcya! 1Tislt 182 68 9 DD 47.54Q0 0.9170 1.4D17 ~ I ~ ~
~2sa
1589 Cuba 50 Pests Pied t48 Anniv Frrst'Frain in S~aRn P22 $7 t2 0.989 t ~1~'- ~
1984 FnertG~ 5 Franc not in Q71Gause P@t4 66 5 ~
~
Platinum Pie~fort J~
1855(x) Monaco Prince Rainier Il[ E36 G5 500
~ 0.9000 00
~ ~~
ESSAI 100 Franc
1966(x} Monaca P~inae Rainier I11 E55 Bfi 500 0.921)0 ~ ~ S ~ .
ESS~At 5 Franc
1950(a~ Monaco not in 071Crause .
ES5it1 5firer Set tQ Frs~c 135 B4, 5Da d.9 i ~
• 20 Franc E28 55 5D0 D.9 i ~ ~%
50 Franc E31 s4 SOD 0.9 Lo °~
1 DD Franc E34 64 500 0:9 2 ~
Page Total 2640.75
Grand Total 11,677.75
TRUST AGREEMENT
OF
RUTH N. EBERLE
Dated: Q,~.L ~~ 1986.
INITIAL TRUSTEE RUTH N. EBERLE
SUCCESSOR TRUSTEE: DAUPHIN DEPOSIT BANK
AND TP.UST COMPANY
HARRISBURG,
PENNSYLVANIA
OPTIONAL SECOND
SUCCESSOR TRUSTEE: JOHN E. EBERLE
TRUST AGREEMENT
OF
RUTH N. EBERLE
I, RUT:i N. EBERLE, now a legal resident of 617 Allen Street, New
Cumberland, Pennsylvania 17070, in my individual capacity as SETTLOR,
by this Agreement of QT~vn.2 /Y, 1986, have transferred to RUTH N.
EBEP.LE- in my representative capacity as TRUSTEE, certain property
which, together with all other property transferred or bequeathed
hereto by me or any other person, and any life insurance proceeds
made payable hereto, shall be held by trustee upon the terms and for
the uses and purposes set forth herein and in any duly executed
amendment.
ARTICLE 1 ... Family .
1.1) For the purpose of identification but not to limit or ex-
clude issue of my children named below who may become entitled to
.o
share as beneficiaries herein, or other named beneficiaries, I re-
cord that as of this date my husband and children herein designated
as beneficiaries are:
Husband Son
JOHN E. EBERLE DAVID 0. EBERLE
617 Allen Street 1815 Oak Drive North
New Cumberland, Pennsylvania 17070 Rockledge, Florida 32955
Daughter
KARE~ A. EBERLE
\\~-~627 Allenview Drive
Mechanicsburg, Pennsylvania 17055
Subsequent references to my "husband", "daughter" or "son" are inten-
ded to be the family members just named.
ARTICLr; 2 ... Successor Trustee(s)
2. 1) Upon my resignation or incapacity as trustee, or if neither
occurs then upon my death the successor trustee or trustees shall be:
A. DAUPHIN DEPOSIT BANK AND TRUST COPIPANY, Harrisburg, Pennsyl-
vania 17105, which shall automatically and immediately succeed to
such office without the necessity of a formal written acceptance un-
less required by some interested party or applicable law,
B. My husband JOHN E. EBERLE, if he so _lects by the filing of
acceptance of such office with said corporate trustee within thirty
days of my termination as trustee.
2.2) Any successor trustee shall be and is hereby relieved of
all responsibility for my acts as trustee, and I waive an accounting
as a condition precedent to all undertaking.
2.3) If my husband becomes a co-trustee he shall reply in writ-
ing to any investment advice or action recommended by said corporate
trustee within twenty days of mailing or personal delivery thereof;
upon his failure to respond the corporate trustee may act in accord-
ance with such advice or elect to forego the recommended action if
it deems that more prudent. Said corporate trustee shall have no lia-
bility for failure to obtain a response from said co-trustee without
clear knowledge of his illness or absence form home.
2. 4) The duties of my husband as a co-trustee shall terminate
upon his resignation, incapacity or death, whichever first occurs.
2.5) Compensation shall be paid to my corporate trustee as pro-
vided for in its standard fee schedule in effect from time to time
as ite services are performed, except as may otherwise be stipulated
in a separate fee agreement between the parties in interest.
2.6) A corporate trustee may resign at any time upon giving
thirty days written notice to the then adult income beneficiary or
beneficiaries. In such event a majority thereof shall, within such
period, appoint in writing a substituted corporate trustee, and
such appointee shall succeed to all of the rights, powers and
duties of the first successor corporate trustee and be relieved of
responsibility for the acts of all preceding trustees.
2.7) I waive the posting of security by any corporate trustee
and by my husband if he elects to become a successor co-trustee.
ARTICLE 3 ... Life Estate of Settlor
3.]) During my lifetime --
A. All of the net income hereof shall be paid to me as requested
of trustee, or upon my demand to the successor trustee.
B. Zn event of my physical or mental disability, as much of
the net income and principal as trustee deems necessary and proper
for my maintenance, comfort and medi~~.l care shall be paid to me or
duly applied for such purposes,
3. 2) If during my lifetime an asset of this trust is the town-
home at X44 Regent's Court, Melbourne, Florida 32940, currently
occupied by me and my husband as our winter home, or any substitute
therefor, I direct as follows with reference thereto;
A. Trustee shall continue to hold such asset in trust.and per-
mit me, together with my husband, to reside therein during my life-
time, or so long as I desire, without payment of rent to the trustee.
B. Should I elect to no longer live in such home trustee, at my
direction, shall sell it and purchase another suitable home, or in-
vest the net proceeds as otherwise provided for herein, If I am in-
capable of making such election the advice of my husband, if living,
to trustee shall control; otherwise the decision of trustee shall be
decisive both as to the retention or sale of said present t.ownhome
or any home substituted therefor as an asset herein.
C. All taxes, insurance and other expenses necessary to properly
maintain such home, or any substituted home, shall be paid directly
or to me from trust income, or, principal if necessary.
D. The provisions of this ARTICLE 3. 2)-A,B and C are intended
by me to provide all lifetime rights of use and occupancy by me and
to thereby qualify said home or any substituted Florida home, for
homestead tax exemption under the Constitution and Statutes of the
State if Florida, if Z become legally domiciled therein at some
future date.
ARTICLE 4 ... Qualified Terminal Interest Property Trust
(Marital Deduction)
4. 1) Following my death and if my husband John E. Eberle
survives me, trustee shall divide the principal into two shares, a
marital deduction trust share and a residuary trust share ("marital"
and "residuary", respectively).
A. The marital share shall be composed of the smallest fracLion-
al share of principal which, when added to all assets otherwise pass-
ing or having passed to my said husband which are includable in mY
gross estate and qualify for the marital deduction, will reduce the
Federal Estate Tax payable be._.use of my death to the minimum,.after
' Dn ~~ m~v~_.
taking into account all other deductions allowed on my Federal Estate
Tax Return and credits against the Federal Estate Tax, including the
unified credit and *_he state death tax credit; provided that the
state death tax credit shall not be taken into account to the extent
that it would increase state death taxes. The formula contained
herein shall be determined as though my executor elects to qualify
all qualified terminable interest property for the Marital Deduction
pursuant to the applicable provisions hereof. I intend that the
formula herein shall be construed as referring to the unlimited Mar-
ital Deduction provided for in Section 2056 of the Internal Revenue
Code, as amended by Section 403 of the Economic Recovery Tax Act of
1981 and as the same may be further amended.
B. The residuary share shall be held as a separate Residuary
Trust under AFTICLE 5 and shall be composed of the remaining pxir.-
cipal or, if my husband fails to survive me the entire principal.
4. 2) My executor, or trustee if then authorized, shall file
with Internal Revenue Service an election to have such marital share
treated as Qualified Terminal Interest Property for Federal Estate
Marital Deduction Tax purposed; EXCEPT, if in the judgment of my ex-
ecutor (trustee) there would be major tax savings for the estates of
myself and my husband to elect to have less than all of the marital
share treated as Qualified Terminal Interest Property then said ex-
ecutor (trustee) may file the election as to only a specific portion
of such marital share. All provisions of this Agreement shall be
construed to effect my intention to qualify this marital trust share
(or any portion) for the Federal Estate Tax Marital Deduction.
4.3 Should assets of this qualified marital share at any time
consist of unproductive property my husband may require that trustee
either make the property productive, convert it within a reasonable
time to productive property, or provide equal benefits by payment to
him from the principal of such trust. No asset, or the proceeds of
any asset, shall be allocated to the marital share as to which a
Marital Deduction is not allowed.
4.4) Notwithstanding the fractional share allocatio,i ox trust
Page Four
~ principal set forth in Article 4.1) above, I direct that if at my
f
death a trust asset is the townhome at 144 Regent's Court, Melbouzne,
Florida 32940, or any substituted home in Florida then occupied by
me and my husband as our winter home or as our legal domicile, (as
provided for in Article 3.2)-A,B & C) then suc:. home property shall
be allocated to this marital deduction trust share in its entirety.
subject to the following terms and conditions:
A. Said husband shall be permitted to reside therein for the
remainder of his lifetime, or so long as he so elects.
B. My husband shall also enjoy complete use and occupancy of
such home without payment to trustee of any rent. Taxes, insurance
and other maintenance costs shall be paid by my husband from his
own income, or income of the marital share if he so requests of trus-
tee or if necessary for his full use and occupancy ther~c;.
C. At any time during his lifetime my husband may direct trus-
tee to sell said home after which the net proceeds shall be rein-
vested in another home selected by my husband or added to other
assets of this marital share for investment and payment of income as
directed in Article 4.6) and Article 4.6),
D. The provisions of this Article 4, 4) and its sub-paragraphs
are intended to not only qualify any.. such home for the Marital De-
duction Trust, but also to provide my husband with liretime rights
of use and occupancy and thereby qualify such home, or any substi-
tuted Florida homes, for homestead tax exemption under the Consti-
tution and Statutes of the State of Florida if Florida becomes the
legal domicile of mp said husband.
4. 5) Further notwithstanding the fractional share allocation
of trust principal as set forth in Article 4. 1) above, I direct that
if at my death a trust asset is shares of stock representing partial
or complete ownership of EXECL7TIVE RENTALS, an apartment complex at
627 Allenview Drive, Mechanicsburg, Pennsylvania 17055, or a partial
or complete ownership in kind of said real estate by virtue of a
deed to trustee, then any such asset shall be excluded from the mar-
ital share and allocated in its entirety to the residuary share.
Page Five
4.6) Commencing with my death the trustee shall pay to or apply
all net income form this marital share, in quarterly or other more
frequent installments, to my husband JOHN E. EBERLE for the remain-
der of his lifetime.
4.7) Unless my husband directs otherwise by his Wi11, trustee
shall pay from the assets of this marital share to the executor of
my husband's estate the amount by which the Federal and State Estate
and Inheritance Taxes assessed by reason of the death of my husband
shall be increased as a result of the inclusion of this trust in my
husband's taxable estate for those taxes. The trustee shall also
pay any interest on the tax payable by such trust. The trustee may
rely upon the certification of the executor of my husband's estate
as to whether he has otherwise directed in his Will and as to the
amount of tax to be paid by this trust.
4.8) Notwithstanding any other provision hereof, all income of
this marital share accrued or undistributed at the death of my hus-
band shall be paid to his estate.
4.9) Following the death of my husband the assets then consti-
tuting the principal of this marital trust share shall be added to
the residuary trust share provided for next below, tofbe administered
as therein directed.
ARTICLE 5 ... Residuary Trust
5. 1) Following my death the assets of this residuary trust
share, determined as provided for in Article 4, shall be continued
in trust upon the terms and conditions set forth in this Article.
5. 2) If my executor determines that there is insufficient cash
in my probate estate to meet the requirements for funeral and admin-
istration expenses, all legally enforceable debts, federal and state
estate, succession, inheritance and generation skipping transfer
taxes chargeable to my estate the trustee, upon the written request
of my executor; may distribute to my executor principal hereof in an
amount equal to the insufficiency; or the trus~ae may make any part
of all of such payments directly.
5.3) After setting aside a contingency reserve for the require-
Page Six
meats of Article 5.2) and the amounts of any specific dollar bequests
to named beneficiaries trustee shall divide said residuary trust in-
to two separate but equal shares, one for my daughter KAREN A.EBERLE,
and one for my son DAVID 0. E~ERLE, the variations in precise equal-
ity being as follows:
A. Trust holdings in EXECUTIVE RENTALS referred to in Article
4. 5) above, if an asset, shall be allocated co the share of my
daughter as she has long had a personal part in its management.
B. Allocation of assets in kind shall be at their fair market
(or appraised) values on the date(s) of allocation and any differ-
ence equalized with cash.
5.4) Trustee shall hold one such share for each child of mine
allocated as required by Article 5.3) and --
A. Pay the net income from each child's respective share to
said child in quarterly or more frequent installments, for the re-
mainder of his or her lifetime.
B. Permit each child to withdraw principal from his or h.er
trust share upon written request to trustee, as follows: {a) One
Hundred Thousand Dollars at the end of one year after'my death, and,
(b) One Hundred Thousand Dollars at the end of two years after my
death. Such rights of withdrawal shall be cumulative and may be
exercised by each child at any time after the right accrues. If a
child elects by written notice to trustee to let any part or all of
a withdrawal remain in his or her trust such p~itc~al amount, or
~- -- _.
parts thereof, may be later withdrawn by said child, or~in event of
death his personal representative may withdraw any balance thereof,
If the total value of each child's one-half trust share of his
residuary trust is initially less than Two Hundred Thousand Dollars
the first principal withdrawal by a child shall be limite~l to one-
half of his or her trust share until said shares are augmented under
para "C" below. Each second withdrawal sh<~11 be reduced to the
trust share balance unless the respective trust shares have in the
meantime been augmented, or until augmented, when each child shall
have the right to withdraw the excess of Two Hundred Thousand Dollars
Page Seven
over amounts previously withdrawn.
C, Should my husband survive me then upon his subsequent death
all assets of the Marital Deduction Trust will be transferred to this
residuary trust by Article 4.9) and such additional assets shall be
allocated to the two trust shares for my children under Article 5.3)
A,B & C in the same manner and for the same beneficiaries as though
such assets were originally a part of the residuary trust.
5.5) Af ter three years fror,, my death, the corporate trustee in
its sole discretion may use or apply principal from each trust share
of my children for their respective benefits, as follows:
A. For the support and medical care of said child, or anyone
whom he or she may be legally obligated to support.
B. To assist in the purchase of a home in the name of said
child suitable to his or her needs and standard of living.
C, To assist in the purchase of a going business or to start a
new business of a type in~which said child has some past experience
and which appears to offer reasonable expectations of success.
D. Such discretionary uses of principal shall be exercised by
the corporate trustee with due regard for the age and health of said
child, and my desire to retain balances in each trust share to as-
sure the support and medical care of each child throughout his and
her normal lifetimes; such discretion shall be exercised in favor of
a child of mine rather than any unreasonable preservation of princi-
pal for the issue of either of my children, but only after taking in-
to account the personal assets of such child and other income or
principal available to him or her, including substantial distribu-
tions from the estate of their Father John E. Eberle.
5.6) In the event a child of nine dies before the time for set-
ting apart shares of this residuary trust, or if a child for whom a
share has been set aside dies thereafter but before his or her prin-
cipal has been used or withdrawn, *_ha then principal of such trust
share shall be distributed and paid over absolutely as follows:
A. To or in trust for such child's surviving spouse to the ex-
tent of twenty-five percent of his or her trust share as said child
Page Eight
may appoint by Will; and the remainder, or all thereof if there is
no appointment to a surviving spouse, to or in trust for such one or
more of said child~s issue in such proportions as said child may ap-
point by Will. Any such Will must contain a specific reference to
this limited power of appointment. In default of appointment or
insofar as it is ineffectual, then,
(1) to such child's then living issue per stirpes; or, in de-
fault of such issue,
(2) to my issue per stirpes then living, the share for any child
or issue per stirpes of mine for whom trustee holds a trust share to
be added thereto; or in the absence of issue per stirpes of mine,
(3) to my heirs at law as may then be provided by intestate
statutes of the state in which I die legally domiciled.
5. 7) If my husband survi•~ee n~a, until the Marital Deduction
trust under Article 4 and the Residuary Trust under Article 5 are
finally funded in accordance with ±he provisions of said Articles,
my trustee shall estimate the approximate amounts of each trust ann-
ually, and, based on such estimate, shall determine as fairly as poss-
ible the share of net income attributable to each trust and shall pay
share of net income thus determined in accordance with the provisions
applicable to each trust. Such determination shall be made in the
absolute discretion of my trustee except that any diminution of in-
come occasioned by the payment of death taxes, shall be attributable
to the trust under Article 5. 2) to which such taxes shall finally be
allocated. My trustee shall not be held liable for any difference
between the amounts of income so paid and the exact amount of income
of the trusts as finally determined, which was produced prior to the
time the trusts were finally funded, other than as hereafter 'set
forth. If the amount of income paid to my said husband pursuant to
my trustee's determination exceeds that to which he nay be entitled,
no recoupment shall be made from the subsequent income to which he
may be entitled. If the amount of income paid to him is less than
that to which he was actually entitled, my trustee shall immediately
pay to him such deficiencies out of the income from or principal of
Page Nine
the trust under Article 4.
5.8) In the event a residuary trust share becomes so small that
it cannot be economically administered for the person or purpose ori-
ginally intended, trustee, in its discretion, may terminate such
trust share by distributing the remaining principal and income there-
of to the beneficicary or beneficiaries then entitled to income
therefrom, directly or by means of any alternative set forth in Art-
icle 6.2).
ARTICLE 6 ... P4inority and Disability
6. l) If a trust share terminates in favor of a beneficiary who
is a minor, is incompetent or has not been adjudicated incompetent
but because of illness or disability is in the trustee's judgment
unable to manage the property distributable to him, the trustee may
postpone the termination distribution. Such postponement shall last
until the attainment of his majority, the removal of his incompeten-
cy or until, in the trustee's judgment, he is able to manage the
property. During such postponement the property shall be held and
administered as a separate trust and trustee shall pay to the bene-
ficiary as much of the net income or principal or both as trustee
determines is agpropriate for his health, maintenance, support and
education, including anyone whom he is legally obligated to support.
If the beneficiary dies while the property is so held the trust as-
sets shall be distributed to his estate.
6.2) Additionally, trustee may distribute income and principal
of a trust share held pursuant to Article 6.1) by making payments
for such beneficiary to: (a) His guardian, (b) a relative or friend
having care or custody of him to be used and applied for his bene-
fit, or (c) a custodianship under the Uniform Gifts to Minors Act
in the state where he resides, established for him by trustee or an-
other interested person. The trustee may also make payments direct-
ly for his benefit. A -eceipt for payment by any of the above per-
sons shall be a complete discharge of trustee.
ARTICLE 7 ... Trustee Powers
7. 1) In addition or supplemental to the powers provided by Law,
as amended, trustee in the prudent exercise of discretion and good
judgment, and without order of court, may:
A. Sell, at public or private sale, or option, any property
for cash or upon reasonable terms and security; and, execute leases
on any trust property upon such terms and conditions and for such
periods of time as trustee deems proper and desirable.
B. Invest in all forms of property (including, but not by way
of limitation) real estate, all types of stocks, bonds, options and
money market accounts without bE~.~g confined to investments pre-
scribed by statute, and without being required to have the extensive
diversification that otherwise may be usual or customary far trusts
of this size. And, Common Trust Funds maintained by any corporate
trustee may also be invested in except that any fund of equities
(common stocks or similar securities without fixed dividends) may be
purchased only for z. trust, or trust share, having a total fair
market value of less than Four Hundred Thousand Dollars.
C. Place secur~+-ies in a margin or brokerage account and main-
tain money-market accounts upon which checks or drafts may be drawn.
D. Delegate trading authorization to investment advisors,
brokers or agents and authorize them to sell and reinvest any assets
on a discretionary basis; and pay reasonable compensation therefor.
E. Borrow money from the commercial department of my corporate
trustee or others,. upon reasonable terms, and mortgage, hypothecate
or pledge assets as security therefor, including short selling and
contracts for .he future delivery or any security.
F. Enforce or compromise claims against others and settle or
pay demands presented herein.
G. P•lanage, repair or improve trust assets.
H. Execute and deliver such instruments as may be necessary to
effect all duties and undertakings herein.
I. Employ lawyers, accountants, agents or other assistants
necessary to the proper execution hereof and pay reasonable compen-
sation for such services.
J. Vote and otherwise exercise all rights and options incident
to the ownership of stocks, bonds and other securities and hold
Page Eleven
title in the name of a nominee.
K. Purchase property from my probate estate or a beneficiary
at a price and upon terms determined by trustee to be fair.
L. Add to the principal of any trust created herein any prop-
erty received by hequest or otherwise.
M. Pay pxemiums on any type of insurance policies retained or
purchased herein, and exezcise any rights thereunder.
'n accounts make de osits therein
N. O en checking and save gs , p
P
and draw checks or other debits against such accounts.
O. Distribute assets in cash or kind or partly in each.
P. Retain assets already included herein or that may be added
upon my death, PROVIDED HOWEVER, that inasmuch as more than sixty
percent of my present total assets consist of common shares in AMP,
Inc. (i.ncluding AMP, Inc. "endorsed common shares") a Delaware cor-
poration having its principal place of business in Harrisburg, Pen-
nsylvania, I urge, but do not direct, that trustee proceed .in an
orderly but not precipitous manner to sell such number of said
shares that when added to the sales thereof by the executor of my
probate estate the total of such sales will reduce the combined
holdings in my estate and trust by at least fifty percent. This re-
quest is made, not because of my lack of faith in the continued '
grow*h of AMP, Inc. with which my husband has been associated for
fortes years, but in recognition of the fact that sales can then be
made without large capital gains taxes to assure funds for more di-
verse investments by trustee and to provide liquidity in my estate
and cash needed to pay at least part of the withdrawals to which my
children become entitled under Article 5.4)-B.
AND, PROVIDED FURTHER, that no power of trustee shall be exer-
cised or applied if any part of the Qualified Terminal Interest
Property would thereby be disqualified for the Federal Estate Tax
Marital Deduction.
Article II ... Procedural & Administrative Provisions
e.l) The following procedural provisions shall be applie3 in
the administration of all trusts herein, except as limited to a
particulaz trust.
A. The masculine gender shall be construed to include the fe::t-
inine and the singular as plural where consistent with the remaining
tent.
B. The term "issue per stirpes" of my children shall be con-
strued to mean their child or children, grandchild or grandchildren
and more remote issue thereof who are entitled to a parent's share
by representation, including all who may be legally adopted when
under the age of ten.
C. The successor or corporate trustee shall call upon my medi-
cal doctor for a certificate of my mental or physical disability as
authority for assuming the duties of trustee during my lifetime,
except upon my voluntary resignation.
D. In the event of my .mental or physical disability, whether
certified by a medical doctor or established by decree of court,
the administration of this trust shall continue uninterruptedly as
otherwise provided for herein.
E. If my husband becomes a co-trustee and thereafter his mental
or physical disabilities interfere with the performance of his du-
ties, the corporate trustee may call upon his medical doctor. for
a cer*ificate to such effect, which will relieve him of such office.
F. The corporate trustee shall have the physical custody of
all property, documents, books and records herein and shall, at re-
sonable intervals, provide each beneficiary with detailed statements
of income and principal receipts and disbursement together with a
list of assets showing tax costs and market valuations.
G. Income from any residuary trust or any share thereof need
not be apportioned between successive beneficiaries. A11 income
not actually paid to 3 beneficiary before termination of his inter-
est may be treated as though it ha:: accrued and become payable there-
a.~Ler; likewise, no credit or accrual need be made for taxes, com-
missions or other charges theretofore made against income.
H. Any residuary trust created herein (or as amended), may be
merged with any other trust established by me or under a will or
Trust Agreement of any other person if said trusts are for the same
beneficiaries and estates and have the same trustee, provided that
no adverse tax effects or other detriment to the parties in interest
would result from such merger.
Z. The *_:rm "child's surviving spouse" and "surviving spouse"
used in Article 5.6)-A shall be construed to mean only the spouse
to whom my son or daughter may be legally married at the time of
such child's death.
ARTICLE 9 ... Legal Restraints
(g. l) No beneficiary shall have the right or power to sell,
assign, encumber or otherwise anticipate the principal or income
which he may at any. time be entitled to receive, and no such in-
terest shall be taken by legal or equitable process in satisfac-
tion of any debt or liability of such beneficiary while in the pos-
session of trustee, or prior to the actual distribution thereof to
the beneficiary so entitled.
9.2) All trust shares herein shall vest and distributions
finally made upon a date not later than twenty-one years following
the death of all named and ascertainable beneficiaries herein liv-
ing at the date of my death unless a shorter period of time is re-
quired by applicable state law to avoid violation of any rule
against perpetuities.
ARTICLE 10 ... Applicable State Law
'~~~ 10.1) :.The statutes and case law of the Commonwealth of Pen-
'~\~_ ~.-
nsylvania-s.~ia11-be applied to the interpretation of this Trust
Agreement if\ary justiciable question arises that cannot be reason-
ably decided by trustee upon reference to the provisions hereof;
PROVIDED HOWEVER, that the statutes and case law of the State of
Florida shall be applied any time after this date if I become
legally domiciled in said State of Florida.
ARTICLE 11 ... Reserved Powers and Rights
11.1) I reserve the following rights and powers, exercisable
at any time, and from time to time whereby I may:
A. Amend this Trust Agreement, or any amendment hereto, in
Page Fourteen
whole or in part by written agreement similarly executed,
B. Withdraw any part of all of the assets hereof at any time.
C. Exercise any rights or options available under any life
insuran~a policy transferred to or made payable hereto by me as the
owner or insured.
D. Accept pr disapprove within twenty days of receipt, any ad-
vice by successor trustee to sell, purchase or encumber any asset
hereof; otherwise trustee may proceed in its discretion.
E. Revoke this agreement by unilateral action while I remain
trustee, or upon sixty days written notice to any successor
trustee during my lifetime.
IN WITNESS WHEREOF, the parties hereunto have executed this Trust
Agreement iqn, two counterparts the dzy and y~epar 7first above written.
C~~~ .~L• ~-~E~L ( SEAL ) G.~C~~~/ ~ ~~~ ~ SEAL )
RUTS N. BEF2LE, Settlor RUTH N. EBERLE, as Trustee
The foregoing Trust Agreement, on the day and year first above
written, was signed, sealed and published by Settlor and Trustee
in the presence of us, and the undersigned who attest as witnesses
after said Settlor and Trustee had signed as her free.and voluntary
act in our pres~e~ncpeQand we in the presence of each other.
~~_G~ ~ .i'~~"'l Address O~~
~, - ~^ ~
~liG~~ Address
I.~ ~
STATE OF PENNSYLVANIA)
COUNTY OF DAUPHIN )
I HEREBY CERTIFY that on this day before me, an officer duly quali-
fied to take acknowledgments, personally appeared RUTH N. EBERLE,
to me known to be the person described in and who executed the
foregoing instrument and acknowledged before me that she executed
the same.
WITNESS my hand and official seal in the County and State last
aforesaid this i v day of y . ~.. 1986.
l~l: -~i.ri~~l~"x.12__
,NARY PUBLIC
.tit •lt;, r~-~~. ,~ ^~ , ~ , 1~pQUC:
. •r .:
.... _ .._ c~_ __ Hai ricburs. "A N-.,.; LL ,ii I`-~i
Cr:
PE1176A
RJW:wp 12/18/87
FIRST AMENDMENT TO AGREEMENT OF TRUST
I, RUTH N. EBERLE, of New Cumberland, Pennsylvania, have entered
into an Agreement of Trust dated June 18, 1986, with myself as Trustee. Under
Article 11 of said Agreement, I retained the right to amend or revoke said
Agreement in whole or in part by written instrument, other than a Will, lodged
with Trustee. Retaining the further right so to amend or revoke said Agreement, I
hereby amend said Agreement in its entirety by revoking Articles 1 through 11
inclusive thereof and in lieu thereof provide as follows:
FIRST: Life Estate of Settlor.
(a) During my lifetime --
1. All of the net income hereof shall be paid
to me as requested of trustee, or upon my demand to the successor trustee.
2. In the event of my physical or mental
disability, as much of the net income and principal as trustee deems necessary and
proper for ^y maintenance, comfort and medical care shall be paid to me or duly
,\\
applied for Esch purpos~s~.
~~ _
3. ~ I reserve the following rights and powers,
exercisable whenever and as often as I may wish:
A. Withdraw any part or all of the
assets hereof at any time.
PE1176A
RJW:wp 12/18/87
13. Exercise any rights or options
available under any life insurance policy transferred to or made payable hereto by
me as the owner or insured.
C. Accept or disapprove within twenty
days of receipt, any advice by successor trustee to sell, purchase or encumber any
asset hereof; otherwise trustee may proceed in its discretion.
(b) If during my lifetime an asset of this trust is my
present home at 617 Allen Street, New Cumberland, Pennsylvania 17070 or the
townhome at 144 Regent's Court, Melbourne, Florida 32940, currently occupied by
me and my husband as our winter home, or any substitute therefore, I direct as
follows with reference thereto:
1. Trustee shall continue to hold such asset
in trust and permit me, together with my husband, to reside therein during my
lifetime or so long as I desire, without payment of rent to the trustee.
2. Should I elect to no longer live in such
home, trustee, at my direction, shall sell it and purchase another suitable home, or
in~r~st the net proceeds as otherwise provided for herein. If I am incapable of
ma~ing such election, the advice of my husband, if living, to trustee shall control;
otherwise the decision of trustee shall be decisive both as to the retention or sale
of said present homes or any home substituted therefor as an asset herein.
3. All taxes, insurance and other expenses
necessary to properly maintain such homes, or any substituted home, shall be paid
directly or .to me from trust income, or principal if necessary.
-2-
F
PE1176A
RJW:wp 12/18/87
4. The provisions of this subparagraph are
intended by me to provide all lifetime rights of use and occupancy by me and to
thereby qualify said home or substituted Florida home, for homestead tax
exemption under the Constitution and statutes of the State of Florida, if I become
legally domiciled therein at some future date.
SECOND: Settlement of My Estate.
Upon my death, Trustee may make such payments from the principal
of the Trust, prior to its division, as Trustee deems desirable to facilitate the
settlement of my estate, and in the exercise of this power Trustee may pay, in
whole or in part, any or all of (i) my legally enforceable debts, (ii) my funeral and
burial expenses and (iii) administration expenses in connection with my estate,
even though they do not relate to property subject to this Trust. Neither the
personal representatives of my estate nor any beneficiary of my estate shall be
required to reimburse Trustee for any such expenditures.
THIRD: Division of Principal.
Upon my death:
(a) If my husband, JOHN E. EBERLE, survives me,
my Trustee shall divide the principal into two separate trusts, a Qualified
Terminable Interest Trust under Paragraph FOURTH and a Residuary Trust under
Paragraph FIFTH.
(b) ~ The Qualified Terminable Interest Trust shall be
composed of the smallest fractional share of principal which, when added to all
assets otherwise passing or having passed to my said husband which are includable
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PE1176A
RJW:wp 12/18/87
in my gross estate and qualify for the marital deduction, will reduce the Federal
Estate Tax payable because of my death to a minimum, after taking into account
all other deductions allowed on my Federal Estate Tax Return and all credits
against the Federal Estate Tax, including the unified credit and the state death
tax credit; provided that the state death tax credit shall not be taken into account
to the extent that it would increase state death taxes. The formula contained
herein shall be determined as though my Executor elects to qualify all qualified
terminable interest property for the marital deduction pursuant to the provisions
of my Will.
(c) The Residuary Trust shall be composed of the
remaining principal or, if my said Husband fails to survive me, the entire
principal.
(d) If my Executor elects to qualify the Qualified
Terminable Interest Trust or any portion thereof for the marital deduction, any
provision of this Agreement of Trust which may appear to conflict with my
intention to qualify the Qualified Terminable Interest Trust or such portion
thereof for the marital deduction shall be construed so as to accomplish that
intention. If such election is made in whole or in part, all property allocated to or
held in such trust shall be the type of property which qualifies for the marital
deduction. In addition, if such election is made in whole or in part and if assets of
such trust at any time consist substantially of unproductive property, my said
husband may require that my Trustee either make the property productive,
convert it within a reasonable time to productive property, or provide the required
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PE1176A
RJW:wp 12/18/87
beneficial enjoyment from the trust to my said husband by payments to him from
the principal of such trust.
FOURTH: Qualified Terminable Interest Trust.
As to the principal passing hereunder, I direct my Trustee further to
divide the principal into two separate trusts, QTIP Trust No. 1 and QTIP Trust No.
2. QTIP Trust No. 1 shall be composed of the maximum amount of principal which,
after accounting for that portion of my GST Exemption (as defined in section. 2631
of the Internal Revenue Code) which is allocated to the principal passing under
Paragraph FIFTH (a) 1. and FIFTH (s) 3. of the Residuary Trust, can be paid to
QTIP Trust No. 1 without causing the Inclusion Ratio (as defined in section 2642(x)
of the Internal Revenue Code) with respect to such Trust to be greater than zero
(d). QTIP Trust No. 2 shall be composed of the remaining principal. The formula
contained herein shall be determined after taking into consideration the decisions
of my Executor whether (i) to allocate my GST Exemption to the principal passing
under Paragraph FIFTH (a) 1. and FIFTH (a) 3. of the Residuary Trust to the extent
necessary to result in an inclusion ratio of zero for such principal, (ii) to allocate
the remaining unused portion of my GST Exemption (as of my death but after the
allocation under {i) above) to QTIP Trust No. 1, (iii) to file or not file an election
pursuant to section 2632(b)(3) of the Internal Revenue Code, and (iv) to file or not
file a special election with respect to QTIP Trust No. 1 pursuant to section
2652(x)(3) of the Internal Revenue Code.
(a) As to QTIP Trust No. 1, I direct my Trustee:
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PE1176A
RJW:wp 12/18/87
1. To pay the net income at least quarterly
to my husband, JOHN E. EBERLE, for life. In addition, my Trustee may pay to or
apply for the benefit of my said husband as much of the principal as my Trustee
deems advisable for his maintenance, education, health, and support, after first
considering funds available to him from other sources; provided that no such
payments of principal shall be made to my said husband until QTIP Trust No. 2 is
completely exhausted.
2. Upon the death of my said husband,
A. To the extent, and only to the
extent, the funds passing under subparagraph (b}2.A hereof are insufficient to do
so, to deduct and pay to the personal representatives of my said husband's estate
(without responsibility for the application thereof) an amount certified by such
personal representatives to be equal to the additional death taxes (and any
interest and penalties thereon) and administration expenses which would not have
been payable from his estate if the value of the remaining principal of the
Qualified Terminable Interest Trust (including both QTIP Trust No. 1 and QTIP
Trust No.2) had not been included in his estate, unless my said husband directs in
his Will that such taxes and expenses shall be paid out of his estate or another
source by a provision for the payment of such taxes and expenses which is
sufficient to include those relating to this trust.
B. To add the remaining principal to
the Exempt GSTT Trust under Paragraph SIXTH, to be held or distributed under
the terms thereof as applied to circumstances then existing.
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PE1176A
RJW:wp 12/18/87
(b) As to QTIP Trust No. 2, I direct my Trustee:
1. To pay the net income at least quarterly
to my husband, JOHN E. EBERLE, for life. In addition, my Trustee may pay to or
apply for the benefit of my said husband as much of the principal as my Trustee
deems advisable for his maintenance, education, health and support after first
considering funds (other than funds in_ QTIP Trust No. 1) available to him from
other sources.
2. Upon the death of my said husband,
A. To deduct and pay to the personal
representatives of my said husband's estate (without responsibility for the
application thereof) an amount certified by such personal representatives to be
equal to the additional death taxes (and any interest and penalties thereon) and
administraiton expenses which would not have been payable from his estate if the
value of the remaining principal of the Qualified Terminable Interest Trust
(including both QTIP Trust No. 1 and QTIP Trust No. 2) had not been included in his
estate, unless my said husband directs in his Wi11 that such taxes and expenses
shall be paid out of his estate or another source by a provision for the payment of
such taxes and expenses which is sufficient to include those relating to such
trust.
B. To add the balance of the principal
to the Nonexempt GSTT Trust under the terms of Paragraph SEVENTH.
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PE1176A
RJW:wp 12/18/87
FIFTH: Residuary Trust.
As to the principal passing hereunder, I direct my Trustee,
(a) If my husband, JOHN E. EBERLE, survives me,
upon my death to divide the principal into as many equal shares as there are
children of mine who survive me and children of mine who fail to survive me but
who are represented by descendants who survive me, and
1. To add the share of a child who fails to
survive me to the Exempt GSTT Trust under Paragraph SIXTH to be held under the
terms of subparagraph (c} thereof as applied to circumstances then existing.
2. To set aside in a further Separate trust
from the share of a child who survives me the lesser of TWO HUNDRED
THOUSAND DOLLARS ($200,000) or the amount of said share, and
A. To pay the net income therefrom at
least quarterly to such child.
B. One year from the date of my
death, to pay to such child upon his or her written request the lesser of ONE
HUNDRED THOUSAND DOLLARS {$100,000) or one-half the then fair m~~ ket
value of the principal.
C. Two years from the date of my
death, to pay the remaining principal to such child.
~^~ r D. Upon the death of any such child
~~ 1
before the entire principal of his or her trust has been distributed, to pay the
~, remaining principal to such persons, including such child's estate, in such manner
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PE1176A
RJW:wg 12!18/87
and shares, for such estates, or upon such trusts as such child may appoint in his ar
her last Will by specific reference to this general power, and to add the remaining
principal not effectively so appointed to the Nonexempt GSTT Trust under
Paragraph SEVENTH to be held under the terms thereof as applied to circum-
stances then existing.
E. Except as provided in Paragraph
THIRTEENTH (1), all income accrued or undistributed at the death of an income
beneficiary shall be paid to the succeeding income or principal beneficiaries.
3. To add the balance of each share of a
child who survives me to the Exempt GSTT Trust to be held under the terms of
Paragraph SIXTH as applied to circumstances then existing.
(b) If my said husband fails to survive me,
1. To set aside and pay to the Exempt GSTT
Trust under Paragraph SIXTH (to be held under the terms thereof as applied to
circumstances then existing) the maximum amount of principal which can be paid
to the Exempt GSTT Trust without causing the Inclusion Ratio (as defined in
section 2642(8) of the Internal Revenue Code) with respect to suc'^ Trust to be
greater than zero (O). The formula contained herein shall be deta~mined after
taking into consideration the decisions of my Executor whether (i) to allocate the
remaining unused portion of my GSTT Exemption (as of my death) to the Exempt
GSTT Trust and (ii) to file or not file an election pursuant to section 2632(b)(3) of
the Internal Revenue Code.
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2. To divide the balance of the principal into
as many equal shares as there are children of mine who survive me and children of
mine who fail to survive me but who are represented by descendants who survive
me, and
A. Subject to Paragraph SEVENTH (e),
to pay the share of a then deceased child of mine to his or her then living
descendants, per stirpes.
B. To set aside in a further separate
trust from the share of a child who survives me the lesser of TWO HUNDRED
THOUSAND DOLLARS ($200,000} or the amount of said share, to be heiu under
the terms of subsection 2. of subparagraph (a) hereof.
C. To add the balance of the share of
a then living child to the trust for such child under Paragraph SEVENTH (b), to be
held under the terms thereof as applied to circumstances then existing.
SIXTH: Exempt GSTT Trust. .
I direct my Trustee to divide the principal passing hereunder into as
many equal shares as there are children of mine living at the time such principal is
added to this trust and children of mine then deceased represented by descendants
then living, and
(a) To retain in a further separate trust the share of
a then deceased child in accordance with the terms of subparagraph (c) hereof as
applied to circumstances then existing.
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(b) To retain in a further separate trust each share
of a then living child, and
1. To pay the net income therefrom to such
child at least quarterly, for Iife, and in addition, at any time after three (3) years
from the date of my death, to pay as much of the principal to him or her as he or
she may from time to time request in writing not exceeding in any calendar year
Five Percent (596) of the value of the principal at the end of such calendar year on
anon-cumulative basis; provided that no such payments of principal shall be made
until the trust for such child under Paragraph SEVENTH (b) is completely
exhausted.
2. At any time after three years from the
date of my death, to pay to or apply for the benefit of such child or such child's
descendants so much of the principal as my Trustee deems advisable, in my
Trustee's sole discretion, for his or her maintenance, education, health and
support; provided, that no such payments shall be made for such child until the
trust for such child under Paragraph SEVENTH is completely exhausted. In the
exercise of this power, funds available to such ch>>d from other sources shall be
considered by my Trustee.
3. Upon the death of such child, to pay the
remaining principal to such of his or her spouse and descendants, in such manner
and shares, for such estates, or upon such trusts as such child may appoint in his or
~f her last Will by specific reference to this limited power; provided that any
interest so appointed to the spouse of a child of mine shall not exceed in value the
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amount by which the combined value at such child's death of the principal of the
trusts for such child under Paragraph FIFTH (a) 2. (or FIFTH (b) 2. B.) and
Paragraph SEVENTH is less than twenty-five percent (2596) of the then combined
value of the principal of the trusts for such child under this paragraph and under
Paragraph FIFTH (a) 2. (or FIFTH (b) 2. B.) and Paragraph SEVENTH, and to retain
the principal not effectively so appointed under the terms of subparagraph (c)
below.
(c) To divide the principal passing hereunder into as
many equal shares as there are children of the child representing such share of
principal (grandchildren of mine) then living and such g: ~adchildren then deceased
represented by descendants then living, .and
1. To retain the share of a then deceased
grandchild of mine in a further separate trust, and
A. To pay the net income therefrom at
least quarterly to such -of such grandchild's descendants as are living on each
quarterly distribution date, per stirpes.
B. To pay to or apply for the benefit
of any descendant of such grandchild so much of the principal as my Trustee
deems advisable for maintenance, education, health and support after considering
funds available to him or her from other sources. So far as my Trustee deems it
practicable, payments so made shall be charged against the share of principal
represented by the person benefited thereby or his or her ancestor or descendants
at the time of any subsequent division or distribution of•the trust.
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C. One day before twenty-ane years
after the death of the survivor of such of my said hushand and my descendants as
are living at my death, to pay the principal to the then living descendants of such
grandchild, per stirpes.
2. To retain the share of a then living
grandchild in a further separate trust, and
A. To pay so much of the net income
to such grandchild as my Trustee deems adv~saDle. All net income not so paid
shall be accumulated and added to principal.
B. 'T'c pay to or apply for the benefit
of such grandchild or any of such grandchild's descendants so much of the principal
as my Trustee deems advisable for maintenance, health, education and support
after considering funds available to him or her from other sources. So far as my
Trustee deems it practicable, payments so made shall be charged against the share
of principal represented by the person benefited thereby or his or her descendants
or ancestor at the time of any subsequent division or distribution of the trust.
C. Upon the death of such grandchild,
to pay the remaining principal to such of such grandchild's descendants, in such
manner and shares, for such estates, or upon such trusts as such grandchild may
appoint in his or her last Will by specific reference to this limited power, and to
retain the principal not effectively so appointed under the terms of section 1. of
this subparagraph (c) as applied to circumstances then existing.
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(d) If at any time there is no one living who is
entitled to income or principal upon the termination of any separate trust
hereunder, to pay said principal as follows:
1. To the then living descendants, per
stirpes, of the most immediate ancestor (who is a descendant of mine and who has
descendants then living) of the last person to whom the income of such
terminating trust may be distributed.
2. !n default of such descendants, to my then
living descendants, per stirpes.
3. Any additional share of a child or grand-
child of mine for whom a trust is then_ ire existence under this paragraph shall be
added to such trust, and any additional share of a descendant of a grandchild of
mine shall be added to the trust for such descendant under subsection 1. of
subparagraph (c), to be held under the terms thereof as applied to circumstances
then existing.
4. In default of such descendants, to those
persons who would be entitled thereto under the intestate laws of the
Commonwealth of Pennsylvactia~then in effect had I then died intestate, unmarried
~.
and without surviving descendants; provided that any interest which would
otherwise pass to such Commonwealth under such laws shall be paid to a charity
or charities selected by my Trustee, in Trustee's sole discretion.
(e} Except as provided in Paragraph THIRTEENTH
(I), all income accrued or undistributed at the death of any income beneficiary
shall be paid to the succeeding income or principal beneficiaries.
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SEVENTH: Nonexempt GSTT Trust.
I direct my Trustee to divide tiro principal passing hereunder into as
many equal shares as there are children of mine living at the time such principal is
added to this trust and children of mine then deceased represented by descendants
then living, and
(a) Subject to subparagraph (c) below, to pay the
share of a then deceased child to his or her then living descendants, per stirpes.
(b) To retain in a further separate trust each share
of a then living child, and
1. To pay the net income at least quarterly
to such child, for life, and in ad~.ition, at any time after three (3) years from the
date of my death, to pay as much of the principal to him or her as he or she may
from time to time request in writing not exceeding in any calendar year Five
Percent (596) of the combined value. of the principal of this trust and the trust for
such child under Paragraph SIXTH at the end of such calendar year on a non-
cumulative basis.
2. Two years after the date of my death, to
pay to such child an amount of principal equal to the excess, if any, of TWO
HUNDRED THOUSAND DOLLARS ($200,000) over the amount of principal such
child receives under Paragraph FIFTH (a) 2. or FIFTH (b) 2. B.
3. At any time after three years from the
date of my death, to pay to or apply for the benefit of such child so much of the
principal as my Trustee deems advisable for his or her maintenance, education,
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health and support without considering funds available to him or her from other
sources.
4. Upon the death of such child, to pay the
remaining .principal to such persons, including his or her estate, in such manner
,r~J ~` and shares, for such estates, or upon such trusts as such child may appoint in his or
her last Will by specific reference to this general power and, subject to
subparagraph (c) below, to pay the principal not effectively so appointed to the
then living descendants of such child, per stirpes; and in default of such
descendants, to my then living descendants, per stirpes, any additional share of a
descendant of minef~r whom a trust is then in existence under this paragraph to
be added to such truss, to be held under the terms thereof as applied to
circumstances then existing.
{c) If any share would otherwise be distributable
under this paragraph or under Paragraph FIFTH (b) 2. A. to a grandchild of mine
who has not then attained age thirty-five (35), I direct my Trustee to retain such
share in a further separate trust, and
1. To pay at least quarterly the net income
therefrom to such grandchild.
2. To pay to or apply for the benefit of such
grandchild so much of the principal as my Trustee, in its sole discretion, deems
advisable for maintenance, education, health and support after considering funds
(other than funds passing under Paragraph SIXTH) available to him or her from
other sources.
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• 3. Upon such grandchild attaining age thirty-
five (35), to pay the remaii~~.~g principal to him or her.
4. Upon the death of any such grandchild
before the entire principal of his or her trust has been distributed, to pay the
remaining principal to such persons, including his or her estate, in such manner
and shares, for such estates, or upon such trusts as such grandchild may appoint in
his or her last Will by specific reference to this general power, and to pay the
principal nc*. effectively so appointed as follows:
A. To the then living descendants of
such grandchild, per stirpes.
B. In default of such descendants, to
the then living descendants, per stirpes, of such grandchild's parent who is a
descendant of mine and who has descendants then living.
C. In default of such descendants, to
my then living descendants, per stirpes.
D. Any additional share of a child or
grandchild of mine for whom a trust is then in existence under this paragraph shall
be added to such trust, to be held under the terms thereof as applied to
circumstances then existing.
(d) If at ,any time there is no one living who is
entitled to income or principal under the foregoing provisions of this paragraph, to
pay said principal to those persons who would be entitled thereto under the
intestate laws of the Commonwealth of Pennsylvania then in effect had I :hen
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died intestate, unmarried and without surviving descendants; provided that any
interest which wouia otherwise pass to such Commonwealth under such laws shall
be paid to a charity or charities selected by my Trustee, in Trustee's sole
discretion.
(e) Except as provided in Paragraph THIRTEENTH
(1), all income accrued or undistributed at the death of an income beneficiary shall
be paid to the succeeding income or principal beneficiaries.
EIGHTH: Perpetuities Provision.
If any trust hereunder has not already terminated by its terms, it shall
terminate one day before twenty-one years after the death of the survivor of such
of my~aid husband and my descendants as are living at my death, and the
principal shall then be distributed absolutely to the persons then receiving incame
from such trust in proportion to their respective interests in the incame.
NINTH: Allocation of Income.
If my husband, JOHN F. EBERLE, survives me, until the trusts under
Paragraph FOURTH and FIFTH are finally funded in accordance with the
provisions of Paragraph THIRD, my Trustee shall estimate the approximate
amounts of each trust annually, and, based on such estimate, shall determine as
fairly as possible the share of net income attributable to each trust and shall pay
the share of net income thus determined in accordance with the provisions
applicable to each trust. Such determination shall be made in the absolute
discretion of my Trustee except that any diminution of income occasioned by the
payment of death taxes, shall be attributable to the trust under Paragraph FIFTH
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to which such taxes shall finally be allocated. My Trustee shall not be held liable
for any d;fference between the amounts of income so paid and the exact amount
of income of the trusts as finally determined, which was produced prior to the
time the trusts were finally funded, other than as hereafter set forth. If the
amount of income paid to my said husband pursuant to my Trustee's determination
exceeds that to which he may be entitled, no recoupment shall be made from the
subsequent income to which he may be entitled. If the amount of income paid to
him is less than that to which he was actually entitled, my Trustee shall
immediately pay to him such deficiencies out of the income from or principal of
the trust under Paragraph FOURTH.
TENTH: Disclaimer.
If any person otherwise entitled to take hereunder (or such person's
legal representative) files a written disclaimer, in whole or in part, with respect
to any provision of this Trust with my Trustee within the period allowed by
Section 2518 of the Internal Revenue Code, such person--~i) shall be treated as
having predeceased me for purposes of holding or distributing the disclaimed
share, and (ii) shall not participate in any decision to pay or apply the income or
principal of the disclaimed share to or for the benefit of any person hereunder,~but
such person shall not be treated as having predeceased me for purposes of holding,
distributing or participating in any such decision under any provision to which the
disclaimer does not extend.
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ELEVENTH: Spendthrift Provision.
No beneficiary shall have the right or power to sell, assign, encumber
or otherwise anticipate the principal or income which he may at any time be
entitled to receive, and no such interest shall be taken by legal or equitable
~~ process in satisfaction of any debt or liability of such beneficiary while in the
s -
possession of trustee, or prior to the actual distribution thereof to the beneficiary
so entitled.
TWELFTH: Death Taxes.
To the extent that they have not been paid from my testamentary
estate as provided in my Will, death taxes {and interest and penalties thereon)
imposed as a result of my death upon the principal of this Trust, upon property
passing under my Will and upon proceeds of insurance on my life, but not
otherwise, shall be paid out of the principal of the Residuary Trust, each share
thereof, whether outright or in trust, to bear a pro rata portion of such taxes;
provided that if my said husband fails to survive me, such taxes (and interest and
penalties thereon) shall be paid out of the principal passing under Paragraph
FIFTH (b) 2. A. and C., each share thereof, whether outright or in trust, to bear a
pro rata portion of such taxes, and if such principal is insufficient, from Paragraph
FIFTH (b) 2. B.
THIRTEENTH:
Administrative Powers.
My Trustee shall have the following powers in addition to those
conferred by law until all property is distributed:
(a) To retain any real or personal property {including
stock of the corporate Trustee or of a company controlling it) in the form in which
it is received; provided however, that inasmuch as more than sixty percent of my
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present total assets consist of common shares in AMP, Inc. (including AMP, Inc.
"endorsed common shares") a Delaware corporation having its principal glace of
business in Harrisburg, Pennsylvania, I urge, but do not direct, that trustee
proceed in an orderly but not precipitous manner to sell such number of said
shares that when added to the sales thereof by the executor of my probate estate
the total of such sales will reduce the combined holdings in my estate and trust by
at least fifty percent. This request is made, not because of my lack of faith in the
continued growth of AMP, Inc. with which my husband has been associated for
forty years, but in recognition of the fact that sales can then be made without
large capital gains taxes to assure funds for more diverse investments by trustee
and to provide liquidity in my estate and cash needed to pay at least part of the
withdrawals to which my children become entitled under Paragraph FIFTH.
(b) To sell at public or private sale for cash and/or
credit, to exchange, and to letise for any period of time, any real or personal
property and to give options for such sales, exchanges, or leases.
{c) To purchase all forms of property, including but
not limited to stocks, bonds, notes and other securities (including stock of the
corporate Trustee or of a company controlling it), common trust funds and real
estate, or any variety of real or personal property, without being confined to so-
called legal investments and without regard for the principle of diversification.
(d) To purchase securities at a premium or discount
and to charge such premium or credit such discount to principal or income.
(e) To exercise any option arising from the
ownership of any investment; to join in any recapitalization, merger,
reorganization, liquidation, dissolution, consolidation or voting trust glen affecting
any investment; to delegate powers with respect thereto; to deposit securities
under agreements and pay assessments; to subscribe for stock and bond privileges;
and generally to exercise all rights of security holders.
(f) To hold property unregistered or in the name of a
nominee.
~~ ' ~ (g) To mortgage, divide, alter, repair and improve
real property and generally to exercise all rights of real estate ownership.
(h) To distribute in cash, in kind, or partly in each,
and to cause any share to be composed of cash, property, or undivided fractional
shares in property different in kind from any other share.
(i) To compromise claims by or against the trust
fund, including but not limited to tax issues and disputes, without order of court or
consent of any party in interest and without regard for the effect of such
compromise on any interest hereunder.
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(j) To borrow money and to pledge any real or
personal property as security for the repayment thereof.
(k) To buy real and personal property from the
personal representatives of my estate, and to lend money to them upon such terms
and conditions as my Trustee deems advisable, even if any of my personal
representatives is also a Trustee of this Trust.
(1) To apply income for the benefit of any
incapacitated individual to whom income may or must be distributed for any
reason during the period of incapacity. Income not so applied shall be
accumulated, invested, and if not sooner applied, paid to such individual upon
gaining capacity or to his or her personal representative if he or she dies before
gaining capacity; provided that all income from the Qualified Terminable Interest
Trust shall be paid to, or applied for the benefit of, my said husband at least
annually. .
(m) With respect to a principal share vesting in a
beneficiary who, in the opinion of my Trustee, is incapacitated by reason of illness
(mental or physical) when such share vests in him or her: to hold the share during
his or her incapacity and to invest the share and all accumulations thereon; to
apply so much of the income and principal as my Trustee deems advisable for such
beneficiary's benefit for any reason without considering other funds available to
him or her; and to deliver the balance of principal and income to the beneficiary
at such time as he or. she gains capacity. In addition, at any time to pay the entire
share to the guardian of the person or the estate of the incapacitated beneficiary
to hold for his or her benefit. The receipt of a guardian or such other person as
may be selected by my Trustee to receive a distribution under this subparagraph
shall be a full and complete discharge to my Trustee.
(n) Whenever Trustee determines that the size of
any trust does not warrant the cost of continuing it, or that its administration
would be impractical for any other reason, to pay the principal without furtr:._:r
responsibility to the persons then entitled to any income distributions thereunder
in proportion to their respective shares of income, subject to the provisions of
subparagraph (m); provided, however, that no Trustee shall participate in any
decision to terminate any trust of which he or she is a current income beneficiary
hereunder.
(o) To pool the assets of all separate trusts
hereunder for investment purposes, allocating to each such trust an undivided
proportionate interest in the pooled assets.
(p) To merge any trust hereunder with any other
trust held by Trustee created by my said husband by Will or Deed, if the trusts are
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for the primary benefit of the same persons and contain substantially identical
terms.
(q) Unless a corporate fiduciary is then serving, to
employ accountants, agents, investment counsel, brokers, bank or trust company
to perform services for and at the expense of any trust or trusts hereunder for
which such services are performed and to carry or register investments in the
name of the nominee of such agent, broker, bank or trust company. The expenses
and charges for such services shall be charged against principal or income or
partly against each as my Trustee may determine. My Trustee is expressly
relieved of any liability or responsibility whatsoever for any act or failure to act
by, or for following the advice of, such accountants, agents, investment counsel,
brokers, bank or trust company, so long as my Trustee exercises due care in their
selection. The fact that a Trustee may be a member, shareholder or employee of
any accounting, investment or brokerage firm, agent, or bank or trust company so
employed shall not be deemed a conflict of interest. Any compensation paid
pursuant to this subparagraph shall not affect in any manner the amount of or the
right of my Trustee to receive commissions as a fiduciary.
FOURTEENTH: Custodian under the Uniform Gifts to Minors Act.
I appoint the surviving parent of a descendant of mine under the age
of twenty-one (21) receiving a principal share hereunder custodian for such
descendant to receive such share under the Uniform Gifts to Minors Act of the
state where such descendant resides.
FIFTEENTH:
Administrative Provisions.
(a) A beneficiary's incapacity shall be determined
solely by my Trustee. The incapacity of a beneficiary who is also a Tr;:stee shall
be determined solely by my other Trustee. No Trustee who is also a beneficiary
hereunder, if incapacitated in the opinion of my other Trustee, shall participate in
any decision to apply income for his or her benefit.
(b) No Trustee hereunder shall participate in any
decision to pay income or principal to or for the benefit of himself or herself or
any individual whom he or she is legally obligated to support.
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(c} The receipt of any payee of a payment for the
benefit of an incapacitated beneficiary shall be a complete discharge to my
Trustee.
SIXTEENTH: Life Insurance.
{a} My Trustee is not required to pay premiums or
charges on life insurance policies. My Trustee may settle disputes under such
policies, but is not required to sue on such policies unless my Trustee holds funds
hereunder out of which my Trustee may be reimbursed against all expenses of .~>>it,
including legal fees.
(b) I release the life insurance companies from any
responsibility to see to the execution of the trusts created by this Agreement of
Trust or the application of the proceeds of the policies.
(c) I reserve all rights now or hereafter vested in me
under the life insurance policies subject hereto, including but not limited to the
right to receive the proceeds of any policies which may mature and be payable
before my death, the right to change beneficiaries; to borrow on the p~~icies, to
surrender policies and receive cash value thereof, to assign and pledge the policies
for any loan, and to receive the dividends and all other payments available to the
insured.
SEVENTEENTH:
Right to Amend or Revoke.
I reserve the right at any time or times, by written instrument other
than a Will lodged with my Trustee, to amend or revoke this Agreement of Trust
in whole or in part, provided that the duties, powers and liabilities of my Trustee
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shall not be substantially increased without my Trustee's written consent. I may
add other property to this Trust and any other person may do the same, provided
that my Trustee consents in writing to each such addition.
Ti T('_I7TSi F1ST~T• Tlnfinitinnc
(a) The word "Trustee" when used in this Agreement
of Trust shall include all genders and the singular and plural as the context may
require.
(b) The words "descendants," "grandchild" and
"grandchildren" when used in this Agreement of Trust shall include adopted
persons and their descendants.
(c) The words "incapacitated" and "incapi~ci`.y" when
used in this Agreement of Trust shall refer to an inability to use funds by reason
of age or illness (mental or physical).
(d) When a "per stirpes" distribution of income or
principal to a designated individuals descendants is provided for under this
Agreement of Trust, such income or principal shall be divided ir.:o as many equal
shares as there are then living children of .such individual and then deceased
children represented by descendants then living, and each then living child shall
receive one share, and the share of each deceased child shall be divided among his
or her descendants in the same manner, repeating this pattern with resgect to
succeeding generations until all shares are determined.
(e) Paragraph headings in this Agreement of Trust
are used for reference only and shall not affect the meaning, construction or
effect of this Agreement of Trust.
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RJw:wp 12~1s/s7
(f) All references in this Agreement of Trust to the
Internal Revenue Code shall mean the Internal Revenue Code of 1986, as a^: ended
or reenacted, and all corresponding provisions of any subsequent federal tax laws
and regulations thereunder.
NINETEENTH: Successor Trustee.
(a) Upon my resignation or incapacity as trustee, or
if neither occurs then upon my death, the successor trustee or trustees shall be:
1. DAUPHIN DEPOST'3' BANK AND TRUST
COMPANY, Harrisburg, Pennsylvania 17105, which shall automatically and
immediately succeed to such office without the necessity of a formal written
acceptance unless required by some interested party or applioarle law.
2. My husband, JOHN E. EBERLE, if he so
elects by filing his written acceptance of such office with said corporate trustee
within thirty days of my termination as trustee.
(b) Any successor trustee shall be and is hereby
relieved of all responsibility for my acts as trustee, ara I waive an accounting as a
condition precedent to the undertaking of such responsibility by the successor
trustee.
(c) I appoint each child of mine co-Trustee of the
trusts for such child under Paragraphs FIFTH(a)2., SIXTH and SEVENTH.
(d) I appoint each grandchild of mine co-Trustee of
the trusts far such grandchild under Paragraphs SIXTH and SEVENTH upon such
grandchild attaining age twenty-five (25).
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(e) If my husband becomes a co-trustee, he shall
reply in writing to any investment advice or action recommended by said
corporate trustee within twenty days of mailing or personal delivery thereof; upon
his failure to respond the corporate trustee may act in accordance with such
advice or elect to forego the recommended action if it deems that more prudent.
Said corporate trustee shall have no liability for failure to obtain a response from
said co-trustee without clear knowledge of his illness or absence from home.
(f) The duties of my husband as a co-trustee shall
terminate upon his resignation, incapacity or death, whichever event first
occurs.
(g) Compensation shall be paid to my corporate
trustee as provided for in its standard fee schedule in effect from tithe to time as
its services are performed, except as may otherwise be stipulated in a separate
fee agreement between the parties in interest.
(h) A corporate trustee may resign at any time upon
giving thirty days written notice to the thon sui juris income beneficiary or
beneficiaries. In such event a majority thereof shall, within such period, appoint
in writing a substituted corporate trustee,,.and such appointee shall succeed to all
~~`~
of the rights, powers and duties of the first successor- corporate trustee and be
relieved of responsibility for the acts of all preceding trustees.
(i) I hereby waive the posting of security by any
corporate trustee and by my husband if he elects to become a successor co-
trustee.
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TWENTIETH: Sites; Applicable Law.
This Trust has been accepted by Trustee ir. ±he Commonwealth of
Pennsylvania, its sites shall be in that Commonwealth, and all questions pertaining
to its validity, construction and administration shall be determined in accordance
with the laws of that Commonwealth.
Executed in duplicate December 2~ 1987.
In the presence of:
s/ Christopher P.MarkleY
s/ Ruth N Eberle (SEAL)
Ruth N. Eberle, as Setttlor
u
Received and Accepted:
s/ Christopher P.Markley ~I Rt~i-h N FharlA (SEAL)
Ruth N. Eher].e, as Trustee
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COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF
On the 29th day of December , 1987, before
me, Lisa A. Miller , a Notary Public, personally appeared RUTH N.
EBERLE, and in due form of law acknowledged the above instrument to be her act
and deed and desired the same might be recorded as such.
WITNESS my hand and notarial seal.
s/ Lisa A. Miller
Notary Public
FIRST ADDENDUM TO THE FIRST AMENDMENT
TO AGREEMENT OF TRUST
I, RUTH N. EBERLE, of New Cumberland, Pennsylvania, have
entered into an Agreement of Trust dated June 18, 1986, as amended
by a First: Amendment to Agreement of Trust dated December 29, 1987
(the Agreement of Trust and the First Amendment thereto hereafter
referred Ito as the "Agreement"), with myself as Trustee. Under
Paragraph SEVENTEENTH of the Agreement, I retained the right to
amend or revoke the Agreement in whale or in part by written
instrument., other than a Will, lodged with the Trustee. Retaining
the further right to so amend or revoke the Agreement, I hereby
amend the Agreement as follows:
1. I hereby revoke Paragraph FIFTH (a)2.D and in lieu
thereof substitute the following Paragraph FIFTH (a)2.D:
I). Upon the death of any such child before the
entire: principal of his or her trust has been
distributed, to pay the remaining principal to such
creditors of the child's estate, in such manner and
shares,, for such estates, or upon such trusts as such
child may appoint in his or her last Will by specific
reference to this general power, and to add the remaining
principal not effectively so appointed to the Nonexempt
GSTT Trust under Paragraph SEVENTH to be held under the
terms •thereof as applied to circumstances then existing.
- 1 -
I hereby revoke Paragraph SEVENTH (b)4. and in lieu
thereof substitute the following Paragraph SEVENTH (b)4.:
4. Upon the death of such child, to pay the
remaining principal to such creditors of the child's
estate, in such manner and shares, for such estates, or
upon such trusts as such child may appoint in his or her
last Will by specific reference to this general power
and, subject to subparagraph (c) below, to pay the
principal not effectively so appointed to the then living
descendants of such child, per stirpes; and in default
of such descendants to my then living descendants, per
stirpes, any additional share of a descendant of mine for
whom a trust is then in existence under this paragraph
to be added to such trust, to be held under the terms
thereof as applied to circumstances then existing.
3. I hereby revoke Paragraph ELEVENTH and in lieu
thereof substitute the following Paragraph ELEVENTH:
ELEVENTH: Spendthrift Provision.
Except for the general powers of appointment
contained in Paragraphs FIFTH (a) 2.D and SEVENTH (b) 4.,
no beneficiary shall have the right or power to sell,
assign, encumber or otherwise anticipate the principal
or income which he may at any time be entitled to
receive, and no such interest shall be taken by legal or
equitable process in satisfaction of any debt or
liability of such beneficiary while in the possession of
the trustee, or prior to the actual distribution thereof
to the beneficiary so entitled.
4. Except as herein modified, all terms and conditions
of the Agreement shall remain in full force and effect.
- 2 -
N. Eberle, as Settlor, has executed this First Addendum to the
First Amendment to Agreement of Trust in duplicate this ~2= day
of , 1989.
Witness
~~c.~ ~ - ~~L~ SEAL )
Ruth N. Eberle, Settlor
The terms and provisions set forth in the foregoing First Addendum
to the First Amendment to Agreement of Trust are hereby accepted
and approved this ~_~ day of ~~.-~ 1989.
~' ~~ ~'~~~--(SEAL)
Witness Ruth N. Eberle, Trustee
- 3 -
Commonwealth of Pennsylvania )
} SS:
County of ~O.ru,~?~ntn~~ )
On this, the ~n~'day of _ 1989, before
me a Notary Public, the undersigned of cer, personally appeared
Ruth N. Eberle, known to me (or satisf' torily proven) to be the
person whose name is subscribed to the within instrument, and
acknowledged that she executed the same for the purposes therein
contained.
IN WITNESS WHEREOF, I hereunto set my hand and official
seal.
No ,ary P lic
My Commission Expires:
(SEAL)
NOTARIAL SEAL
KIM9EflLY A DU1Y, Notsry Rubtlo '
Harrisburg, Dauphl~ County
M Commission Ext~nwe ,tin, d, 16~?3
The Ruth N. Eberle Trust
Date of Death Values
Estate Valuation
Date of Death: 05/20/2007
Valuation Date: 05/20/2007
Processing Date: 02/08/2008
Estate of: Ruth N. Eberle Trust
Account: Schwab Account
Report Type: Date of Death
Number of Securities: 15
File ID: Ruth Eberle Trust
Shares Security Mean and/or Div and Int Security
or Par Description High/Ask Low/Bid Adjustments Accruals V;slue
1) 981 BLACKROCK MUNIYIELD PA ZNSD FD (62630V109; MPA)
COM
New York Stock Exchange
05/18/2007 15.08000 15.01000 H/L
05/21/2007 15.08000 15.03000 H/L
15.050000 14,764.05
Div: 0.058 Ex: 05/11/2007 Rec: 05/15/2007 Pay: 06 /01/2007 56.90
2) 500 D R HORTON INC (23331A109; DHI}
COM
New York Stock Exchange
05/18/2007 22.65000 22.26000 H/L
05/21/2007 23.08000 22.56000 HJL
22.637500 11,318.75
3) 1000 DEAN FOODS CO NEW (242370104; DF)
COM
New York Stock Exchange
05/18/2007 32.14000 31.61000 H/L
05/21/2007 32.25000 31.89000 H/L
31.972500 31,972.50
4} 1000 DUKE ENERGY CORP NEW (264399106; DUK)
COM
New York Stock Exchange
05/18/2007 20.73000 20.29000 H/L
05/21/2007 20.45000 20.33000 H/L
20.450000 20,450.00
Div: 0.21 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 210.00
5) 500 ORLEANS HOMEBUILDERS INC (686588104; OHB)
COM
American Stock Exchange
05/18/2007 7.82000 7.53000 H/L
05/21/2007 8.29000 7.74000 H/L
7.845000 3,922.50
6) 1000 QUEST CAP CORP NEW (QCC}
COM
American Stock Exchange
05/18/2007 2.96000 2.91000 H/L
05/21/2007 2.97000 2.90000 H/L
2.935000 2,935.00
7) SOD SPECTRA ENERGY CORP (847560109; SE)
COM
New York Stock Exchange
05/18/2007 27.00000 26.39000 H/L
05/21/2007 27,07000 26.50000 HJL
26.740000 13,370.00
Div: 0.22 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 110.00
g} 1000 TORTOISE ENERGY INFRSTRCTR CP {89147L100; TYG)
COM
New York Stock Exchange
05/18/2007 40.89000 40.16010 H/L
05/21/2007 40.68000 40.29000 H/L
40.505025 40,505.03
9} 20020 TYCO INTL LTD NEW (902124106; TYC)
COM
New York Stock Exchange
05/18/2007 32.60000 32.05000 H/L
05/21/2007 32.60000 32.06000 H/L
32.327500 647,196.55
Div: 0.1 Ex: OSJ16/2007 Rec: 05/18/2007 Pay: 06/06/2067 2,002.00
Page 1
This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have goes=ions,
please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4)
Date of Death: 05/20/2007
Valuation Date: 05/20/2007
Processing Date: 02/08/2008
Estate of: Ruth N, Eberle Trust
Account: Schwab Account
Report Type: Da~,.e of Death
Number of Securities: 15
File ID: Ruth Eberle Trust
Shares Security Mean and/or Ulv a„u ~„~ ~~~u« ~y
or Par Description High/Ask Low/Bid Adjustments Accruals Value
10) 4000 VAN KAMPEN SENIOR INCOME TR (920961109; VVR)
COM
New York Stock Exchange
05/18/2007 8.97000 8.94000 H/L
05/21/2007 8.97000 8.91000 H/L
8.947500 35,790.00
Div: 0.0615 Ex: 05/11/2007 Rec: 05/15/2007 Pay: 05/31/2007 246.00
11) 355.718 HARRIS ASSOC INVT TR (413838608; OAKLX)
OAKMAK SELEC I
Mutual Fund (as quoted by NASDAQ)
05/18/2007 35.56000 Mkt
35.560000 12,649.33
12) 1000 AMERICAN MTG ACCEP CO (027568104; AMC)
SH BEN INT
American Stock Exchange
05/18/2007 10.34000 10.08000 H/L
05/21/2007 10.16000 9.90000 H/L
10.120000 1D, 120.00
13) 200 STREETTRACKS GOLD TR (863307104; GLD)
coLD sxs
New York Stock Exchange
05/18/2007 65.67000 64.85000 H/L
05/21/2007 65.75950 65.06000 H/L
65.334875 13,066.96
14) 500 THORNBURG MTG INC (885218107; TMA)
COM
New York Stock Exchange
05/18/2007 27.14000 26.65000 H/L
05/21/2007 27.33000 26.80000 H/L
26.980000 13,490.00
15) 39286.69 Cash (CASH) 39,286.69
Money market acct.
Total Value: $97.0,837.38
Total Accrual: $2,624.90
Total: $913,462.28
Page 2
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please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4)
Estate Valuation
Date of Death: 05(20/2007 Estate of: Ruth N. Eberle Trust
Valua tion Date: 05/20/2007 Account: Schwab Account
Proce ssing Date: 02/08/2008 Report Type: Late of Death
Number of Securities: 15
File ID: Ruth Eberle Trust
Shares Security Mean and/or Div and Int Security
or Par Description High/Ask Low/Bid Adjustments Accruals Value
1) 981 BLACKROCK MUNIXIELD PA INSD FD (62630V109; MPA)
COM
New York Stock Exchange
08/18/2007 15.08000 15.01000 H/L
05/21/2007 15.08000 15.03000 H/L
15.050000 14,764.05
Div: 0.058 Ex: 05/11/2007 Rec : 05/15/2007 Pay: 06/01/2007 56.90
2) 500 D R HORTON INC (23331A109; DH I)
COM
New York Stock Exchange
05/18/2007 22.65000 22.26000 H/L
05/21/2007 23.08000 22.56000 HjL
22.637500 11,318.75
3) 1000 DEAN FOODS CO NEW (242370104; DF)
COM
New York Stock Exchange
05/16/2007 32.14000 31.61000 H/L
05/21/2007 32.25000 31.89000 H/L
31.972500 31,972.50
4) 1000 DUKE ENERGY CORP NEW (2643991 06; DUK)
COM
New York Stock Exchange
05/18/2007 20.73000 20.29000 H/L
05/21/2007 20.45000 20.33000 H/L
20.450000 20,450.00
Div: 0.21 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 210.00
5) 500 ORLEANS HOMEBUILDERS INC (686 568104; OHB)
COM
American Stock Exchange
05/18/2007 7.82000 7.53000 H/L
05/21/2007 8.29000 7.74000 H/L
7.845000 3,922.50
6) 1000 QUEST CAP CORP NEW (QCC)
COM
American Stock Exchange
05/18/2007 2.96000 2.91000 H/L
05/21/2007 2.97000 2.90000 H/L
2.935000 2,935.00
7) 500 SPECTRA ENERGY CORP (84756010 9; SE)
COM
New York Stock Exchange
05/18/2007 27.00000 26.39000 H/L
05(21/2007 27.07000 26.50000 H/L
26.740000 L3,370.00
Div: 0.22 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 110.00
8) 1000 TORTOISE ENERGY INFRSTRCTR CP (89147L100; TYG)
COM
New York Stock Exchange
05/18/2007 40.89000 40.16010 H/L
05/21/2007 40.68000 40.29000 HjL
40.505025 40,505.03
9) 20020 TYCO ZNTL LTD NEW (902124106; TYC)
COM
New York Stock Exchange
05/18/2007 32.60000 32.05000 H/L
05/21/2007 32.60000 32.06000 H/L
32.327500 64'7,196.55
Div: 0.1 Ex: 05/16/2007 Rec: 05/18/2007 Pay: 06/06/2007 2,002.00
Page 1
This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions,
please contact EVP Systems at (816) 313-6300 or www.evpsys.com. (Revision 7.0.4)
Date of Death: 05/20/2007
Valuation Date: 05/20/2007
Processing Date: 02/08J2008
Shares Security
or Par Description High/Ask Low/Bid
10) 4000 VAN KAMPEN SENIOR INCOME TR (920961109; VVR)
COM
New York Stock Exchange
05/18/2007 8.97000 8,94000 H/L
05/21/2007 8.97000 8.91000 H/L
Div: 0.0615 Ex: 05/11/2007 Rec: 05/15/2007 Pay: OSf31/2007
11) 355.718 HARRIS ASSOC INVT TR (413838608; OAKLX)
OAKMAK SELEC I
Mutual Fund (as quoted by NASDAQ)
Estate of: Ruth N. .Eberle Trust
Account: Schwab Account
Report Type: Date of Death
Number of Securities: 15
File ID: Ruth Eberle Trust
Mean and/or Div and Int Security
Adjustments Accruals Value
8.947500 35,790.00
246.00
05/18/2007 35. 56000 Mkt
35.560000
12) 1000 AMERICAN MTG ACCEP CO (027568104; AMC)
SH BEN INT
American Stock Exchange
05/18/2007 10.34000 10. 08000 H/L
05/21/2007 10.16000 9. 90000 H/L
10.120000
13) 200 STREETTRACKS GOLD TR (863307104; GLD)
GOLD SHS
New York Stock Exchange
05/18/2007 65.67000 64. 85000 H/L
05/21/2007 65.75950 65. 06000 H/L
65.334875
14) 500 THORNHURG MTG INC (885218107; TMA)
COM
New York Stock Exchange
05/18/2007 27.14000 26. 65000 H/L
08/21/2007 27.33000 26. 80000 H/L
26.980000
15) 39286.69 Cash (CASH)
Money maxket acct.
Total Value:
Total Accrual:
Total: $913,462.28
12,649.33
10,120.00
13,066.98
13,490.00
39,286.69
$910,837.38
$2,624.90
Page 2
This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions,
please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4)
Estate Valuation
Date of Death: 05/20/2007
Valuation Date: 05/20/2007
Processing Date: 02/08/2008
Estate of: Ruth N. Eberle Trust
Account: Schwab Account
Report Type: Date of Death
Number of Securities: 15
File ID: Ruth Eberle Trust
Shares Security Mean and/or Div and Int SE~curity
or Par Description High/Ask LowfBid Adjustments Accruals Value
1) 981 BLACKROCK MUNIYIELD PA INSD FD (62630V109; MPA)
COM
New York Stock Exchange
05/18/2007 15.08000 15.01000 H/L
05/21(2007 15.08000 15.03000 H/L
15.050000 14,764.05
Div: 0.058 Ex: OSJ11/2007 Rec : 05/15/2007 Pay: 06/01/2007 56.90
2) 500 D R HORTON INC (23331A109; DHI)
COM
New York Stock Exchange
05/18/2007 22.65000 22.26000 H/L
05/21/2007 23.08000 22.56000 H/L
22.637500 11,318.75
3) 1000 DEAN FOODS CO NEW (242370104; DF1
COM
New York Stock Exchange
05/18/2007 32.14000 31.61000 H/L
05/21/2007 32.25000 31.89000 H/L
31.972500 31,972.50
4) 1000 DUKE ENERGY CORP NEW (264399106; DUK)
COM
New York Stock Exchange
05/18/2007 20.73000 20.29000 H/L
05/21/2007 20.45000 20.33000 H/L
20.450000 20,450.00
Div: 0.21 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 210.00
5) 500 ORLEANS HOMEBUILDERS INC (686588104; OHB)
COM
American Stock Exchange
OS/18/2Q07 7.82000 7.53000 H/L
05/21/2007 8.29000 7.74000 H/L
7.845000 3,922.50
6) 1000 QUEST CAP CORP NEW (QCC)
COM
American Stock Exchange
05/18/2007 2.96000 2.91000 H/L
05/21/2007 2.97000 2.90000 H/L
2.935000 2,935.00
7) 500 SPECTRA ENERGY CORP (84756010 9; SE)
COM
New York Stock Exchange
05/18/2007 27.00000 26.39000 H/L
05/21/2007 27.07000 26.50000 H/L
26.740000 7.3,370.00
Div: 0.22 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 110.00
8) 1000 TORTOISE ENERGY INFRSTRCTR CP (89147L1D0; TYG)
COM
New York Stock Exchange
05/18/2007 40.89000 40.16010 H/L
05/21/2007 40.68000 40.29000 H/L
40.505025 40,505.03
9) 20020 TYCO INTL LTD NEW (902124106; TYC)
COM
New York Stock Exchange
05/18/2007 32.60000 32.05000 H/L
05/21/2007 32.60000 32.06000 H/L
32.327500 64'7,196.55
Div: 0.1 Ex: 05/16/2007 Rec: 05/18/2007 Pay: 06/06/2007 2,002.00
Page 1
This report was produced with Estateval, a product of Estate Valuations & Pricing Systems, Inc. If you have questions,
please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4)
Date of Death: 05/20/2007
Valuation Date: 05/20/2007
Processing Date: 02/08/2008
Shares Security
or Par Description High/Ask Low/Bid
10) 4000 VAN KAMPEN SENIOR INCOME TR (920961109; VVR)
COM
New York Stock Exchange
05/18/2007 8.97000 8.94000 H/L
05/21/2007 8.97000 8.91000 H/L
Div: 0.0615 Ex: 05/11/2007 Rec: 05/15/2007 Pay: 05/31/2007
11) 355.718 HARRIS ASSOC INVT TR (413838608; OAKLX)
OAKMAK SELEC I
Mutual Fund (as quoted by NASDAQ)
Estate of: Ruth N. Eberle Trust
Account: Schwab Account
Report Type: Date of Death
Number of Securities: 15
File ID: Ruth Eberle Trust
Mean and/or Div and Int Security
Adjustments Accruals Value
8.947500 35,790.00
246.00
05/18/2007 35. 56000 Mkt
35.560000
12) 1000 AMERICAN MTG ACCEP CO (027568104; AMC)
SH BEN INT
American Stock Exchange
05/16/2007 10 .34000 10. 08000 H/L
05/21/2007 10 .16000 9. 90000 H/L
10.120000
13) 200 STREETTRACKS GOLD TR (863307104; GLD)
GOLD SHS
New York Stock Exchange
05/18/2007 65 .67000 64. 85000 H/L
05/21/2007 65 .75950 65. 06000 H/L
65.334875
14) 500 THORNBURG MTG INC (885218107; TMA)
COM
New York Stock Exchange
05/18/2007 27 .14000 26. 65000 H/L
05/21/2007 27 .33000 26. 60000 H/L
26.980000
15) 39286.69 Cash (CASH)
Money market acct.
Total Value:
Total Accrual:
Total: $913,462.28
12,649.33
10,120.00
:.3, 066.98
13,490.00
39,286.69
$910,837.38
$2,624.90
Page 2
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please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4)
'~ The Ruth N. Eberle Trust
Alternate Date Values
' Estate Valuation
Date of Death : 05(20/2007 Estate of: Ruth N. Eberle Tru st
Valuation Dat e: 11(20/2007 Account: Schwab Account
Processing Da te: 02f08/2008 Report Type: Alternate Da te
Number of Securities: 17
File ID: Ruth Eberle Tru st
Shares Security Mean and/or Div and Int Security
or Par Description High/Ask Low/Bid Adjustments Accruals Vailue
1) 981 BLACKROCK MUNIYIELD PA INSD FD (62630V109; MPA)
COM
New York Stock Exchange
11/20/2007 13.11000 13.01000 H/L
13. 060000 12,811. 86
Div: O.D58 Ex: 05/11/2007 Rec: OS/15/2007 Pay: 06/01/2007 56.90
2) 500 D R HORTON INC (23331A109; DHI)
COM
New York Stock Exchange
11/20/2007 12.01000 10.46000 H/L
11. 235000 5,617. 50
3) 1000 DEAN FOODS CO NEW (242370104; DF)
COM
New York Stock Exchange
11/20/2007 25.19000 24.40000 H/L
24. 795000 24,795. 00
4) 1000 DUKE ENERGY CORP NEW (264399106; DUK}
COM
New York Stock Exchange
11/20/2007 19.95000 19.56000 HJL
19 .755000 19,755. 00
Div: 0.21 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 210.00
5) 500 ORLEANS HOMEBUILDERS INC (686588104; OHB}
COM
American Stock Exchange
11/20/2007 5.28000 4.40000 H/L
5 .090000 2,545. 00
6) 1000 QUEST CAP CORP NEW (QCC)
COM
American Stock Exchange
11/20/2007 2.60000 2.50000 H/L
2 .550000 2,550. 00
7) 500 SPECTRA ENERGY CORP (847560109; SE)
COM
New York Stock Exchange
11/20/2007 25.20000 24.67000 H/L
24 .935000 12,467. 50
Div: 0.22 Ex: 05/09/2007 Rec: 05/11/2007 Pay: 06/18/2007 110.00
B) 1000 TORTOISE ENERGY INFRSTRCTR CP (89147L100; TYG)
COM
New York Stock Exchange
11/20/2007 33.70000 32.89000 H/L
33 .295000
Div: 0.552500 Ex: 11/20/2007 Rec: 11/23/2007 Pay: 11/30/2007 + 0 .552500
33 .847500 :53,847. 50
9) 5005 TYCO INTL LTD NEW (902124106; TYC)
COM
New York Stock Exchange
11/20/2007 40.23000 39.15000 H/L
39 .690000 198,648 .45
Div: 0.1 Ex: 05/16/2007 Rec: 05/18/2007 Pay: 06/06/2007 2,002.00
Shares on valuation date adjusted for 1-for-4 split
10) 4000 VAN KAMPEN SENIOR INCOME TR (920961109; VVR)
COM
New York Stock Exchange
11/20/2007 7.03000 6.66000 H/L
6 .945000 27,780 .00
Div: 0.0615 Ex: 05/11/2007 Rec: 05/15/2007 Pay: 05/31/2007 246.00
Page 1
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please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4)
--
Date of Death: 05/20/2007 Estate of: Ruth N. Eberle Trust
Valuation Date: 11/20/2007 Account: Scawab Account
Processing Date: 02/08/2008 Report Type: Al~ernate Date
Number of Securities: 17
File ID: Ruth F'sherle Trust
Shares Security Mean and/or Div and Int Security
or Par Description High/Ask Low/Bid Adjustments Accruals Vailue
11) 355.718 HARRIS ASSOC INVT TR (413838608; OAKLX)
OAKMAK SELEC I
Mutual Fund (as quoted by NASDAQ)
11/20/2007 29.31000 Mkt
29.310000 10,426.09
12) 1000 AMERICAN MTG ACCEP CO (027568104; AMC)
SH BEN INT
American Stock Exchange
11/20/2007 3.35000 2.71000 H/L
3.030000 3,030.00
13) 200 STREETTRACKS GOLD TR (863307104; GLD}
GOLD SHS
New York Stock Exchange
11/20/2007 80.04000 77.30000 H/L
78.670000 15,734.00
14) 500 THORNBURG MTG INC (885218107; TMA)
COM
New York Stock Exchange
11/20/2007 9.60000 8.70000 H/L
9.150000 4,575.00
15J 39286.69 Cash (CASH) 39,286.69
16) 5005 COVIDIEN LTD (G2552X108; COV)
COM
New York Stock Exchange
11/20/2007 39.42000 38.11000 H/L
38.765000 7.94,018.83
17) 5005 TYCO ELECTRONICS LTD (G9144P105; TEL)
COM NEW
New York Stock Exchange
11/20/2007 35.36000 34,66000 H/L
35.010000 175,225.05
Total Value: $733,113.47
Total Accrual: $2,624.90
Total: $785,738.37
Page 2
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please contact EVP Systems at (618) 313-6300 or www.evpsys.com. (Revision 7.0.4)
March 10, 2008
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
PO Box 280601
• HARRISBURG, PA 17128-0601
Rhoads & Sinon LLP
One South Market Square, 12th FI.
PO Box 1146
Harrisburg, PA 17108-1146
Telephone
(717) 787-3930
FAX (717) 772-0412
Re: Estate of RUTH N. EBERLE
File Number 2107-0567
Dear Sir or Madam:
This is in response to your request for an extension of time to file the Inheritance Tax Return for
the above estate.
{n accordance with Section 2136 (d) of the Inheritance and Estate Tax Act of 1995, the time for
filing the return is extended for an additional period of six months. This extension will avoid the
imposition of a penalty for failure to make a timely return. However, it does not prevent interest from
accruing on any tax remaining unpaid after the delinquent date.
The return must be filed with the Register of Wills on or before 08/20/08
. Because Section 2136 (d} of the 1995 Act allows for only one extra period of six (6) months, na
additional extension(s) will be granted that would exceed the maximum time permitted.
Sincerely, ~/
/~/
/f
Claudia Maffei, Supervisor"
Document Processing Unit
Inheritance Tax Division
Yvonne R. Durham
ph (717)231-6677
fx (717) 232-1459
ydu rham @rhoads-si non. com
FILE NO. Z937~O6
August 15, 2008
Re: Estate of Ruth N. Eberle
File No. 00567 of 2007
Ms. Glenda Farner-Strasbaugh
Register of Wills
Cumberland County Courthouse
1 Courthouse Square
Carlisle, PA 17013
Dear Ms. Snyder:
Enclosed are the following for the above-captioned Estate:
1. Pennsylvania Inheritance Tax Return, in duplicate, showing overpayment of
tax in the sum of $947.53;
2. Inventory;
~..,
3. Check in the sum of $30.00 in payment of your filing fees; ~ o
~.~ ~.
4. A copy of the Federal Estate Tax Return, Form 706, filed for the Estat.~ a~ ~=~7
-a ~--, --
r -_? CX3
5. A copy of this letter, with the first page of Pennsylvania Inheritarree~ ~,
Return attached, which we ask that you time stamp and return:; ~.~ o'ur ~=
messenger. ,~; _~ ~
' E`J
.,,}
Thanking you for your assistance in this matter.
Very truly yours,
Enclosures
BROADS BL SINON LLP / ~,
Y o e R. Durham
ar egal
700378.1
Rhoads & Sinon LLP Attorneys at Law Twelfth Floor One South Market Square P.O. Box 1146
Harrisburg, PA 17108-1146 ph (717) 233-5731 fx (717) 232-1459 www.rhoads-sinon.com