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HomeMy WebLinkAbout03-0877 Register of Wills of Cumberland County, Pennsylvania PETITION FOR GRANT OF LETTERS Estate of Alberta H. Keen No. ~ also known as , Deceased Social Security No. 194-20-3991 Harold M. Keen I%;;~;~i,,,, who is18 years of age or older, apply(les) foc (COMPLETE "A" OR "B" BELOW:) A. Probate and Grant of Letters and aver that Petitioner is the executor named in the Last Will of the ~ Decedent, dated December 21, 2001 and codicil(s) dated Except as follows, Decedent did not mar~, was not divorced, and did not have a child bom or adopted after execution of the documents offered for probate; was not the victim of a killing and was never adjudicated incompetent: NO EXCEPTIONS B. Grant of Letters of Administration (d.b.n.c.t.a.: pandente lite; durante abeentia; durante mlnolitate) Petitioner(s) after a proper search has/have ascertained that Decedent left no Will and was survived by the following spouse (if any) and heirs: Name Relationship Residence I (COMPLy- ~ ~- IN ALL CASES:) Attach additional sheets if necessa~j. Decedent was domiciled at death in Cumberland County, Pennsylvania, with her last family or principal residence at 871 Cranes Gap Road, Carlisle, North Middleton Township, Cumberland County, Pennsylvania (list area, number and municipality) Decedent, then 81 years of age, died October 3., 2003, at Thomwald Home, Carlisle, Pennsylvania (Location) Decedent at death owned property with estimated values as follows: (If domiciled in PA) All personal property ........................................................................................... $ 2~O,0 ~,'oO (If not domiciled in PA) Personal property in Pennsylvania ..................................................................... $ ~ (If not domiciled in PA) Personal property in County ............................................................................... $ Value of real estate in Pennsylvania ............................................................................... . ............................................ $ 450,000.00 Total ................................................................................................................... $. Real Estate situated as follows: 126 Sheaffer Road, Carlisle, Pennsylvania Wherefore, Petitioner respectfully requests the probate of the last Will presented with this Petition and the grant of letters in the appropriate form to the undersigned: I Typed or pdnted name and residence J Signature IHarold M. Keen I Carlisle, PA 17013 Form RW-1 Page I of 2 (Dauphin Cou~y) - Rev. 9/92 t 492213.1 Oath of Personal Representative Commonwealth of Pennsylvania County of Ctm~berland The Petitioner above-named swears and affirms that the statements in the foregoing Petition are true and correct to the best of the knowledge and belief of Petitioner and that, as personal representative of the Decedent, Petitioner will well and truly administer the estate according to law. Swom to and affirmed and subscribed 7% ./-~.~,~-k?~ /'~ -~.-'' Harold M. Keen before me this 24th day of October 2003 No. 21-2003-877 Estate of Alberta H. Keen Deceased Social Secudty No: 194-20-3991 Date of Death: O~tober 03~ 2003 AND NOW, October 24th ,20 r)'~ , in consideration of the Petition on the reverse side hereon, satisfactory proof having been presented before me, IT IS DECREED that Letters [] Testamentary [] of Administration d.b.n.c.t.; pem:lente lite; durame absenfie; durante minorttale are hereby granted to Harold M. Keen in the above estate and that the instrument(s) dated nec_~..ber o~ 2001 described in the Petition be admitted to probate and filed of record as t~'laSt Will of Decedent. FEES Letters ........................... , 445.00 ~_~ ~-~./~'.~'~./z:;~~._z Register of Wills / ~ //~ ~/ /~ / Short Certificate(s) ....... 4._ $. 12.00 Donna M. Otto, 1st Deputy Renunciation .................. $ Affidavit ( ) ................. $ Extra Pages (,16) ............ $ 48.00 Codicil ..........................$ JCP Fee ........................ $ 10.00 Attorney: Stanley A. Smith Inventory ....................... $ I.D. No: 33782 Other ............................ $. Address: Rhoads & Sinon LLP, PO Box 1146 1 South Market Square, Harrisburg, PA 17108-1146 TOTAL ................ $ 515.00 Telephone: 717-233-5731 Call Attorney when Letters finish~ on Fo~,0~.~ ~,,,~ ~)~. ,,,. ~o. ~.. ....... are This is to certify that the information here given is correctly copied from an original certificate of death duly filed ,vith me as Local Registrar. The original certificate will be forwarded to the State Vital Records Office for permanent fiiing. WARNING: It is illegal to duplicate this copy by photostat or photograph. Fee for this certificate, $2.00 ~ ~ ~. ~ Local Registrar P 9 6 1 0 1 5 8 OCT ' 6 2003 No. '~ Date H105.143 Rev. 2/87 COMMONWEALTH OF PENNSYLVANIA · DEPARTMENT OF HEALTH · VITAL RECORDS · ~.T CERTIFICATE OF DEATH 4ENT SEX I SOCIAL SECURITY NUMBER DATE OF DEATH (Moalh, Day. Year) <,NK ,. Alberta H. Keen ~Female 3. 194 -- 20 -- 3991 4. October 3, 2003 AGE (List D;,~3~.) I UNDER 1 YEAR ' UNDER 1 DAY (Mon~. Day. Year) · -.amper. er '_n.,-p. '~"'"' [] ~,,~,~,.,, [] Do^ [] W $3ala ~ F~'pign c~=~,t~A PLACE OF DEATH (Check only one - ~ee ins ructions on ot6er side1 81 Y~. M~, D~ ~ ~' I,May 6,1922 7. Lancaster Co., ,,. ~ [] ~-~_~_[-] ~, [] WAS DECEDENT O7 HISPANIC ORIGIN? C~ ,b. Cumberland ~=. Carlisle lad. Thornwald Home Me~,. P~e~R~,. em I '~. White DECEDENTS USUAL OCCUPATION KIND OF BUSINESS / INDUSTRY /vAS DECEDENT EVER IN [ DECEDENTS EDUCAT ON O~vorced (Specify {~l~l~du,l ~ Jl~. ~ U.S. ARMED FORCES? "- IS~ec~on~h~ghe~r~eca,-n~I NeverUanted, Widowed. ~,.. ~ecrecary ck Leasing Co. I v"[] No[-~ I ............ I c~. H'. ,. (0-,,) ('~'~) 4 ~.~arried ,sHarold M. Keen ~ DECE~N~VS_~A~U,S ~DONESS (S~eL C~o~. S,.m, ap Co~) DECEDEN?S · ~/1 cranes Gap Rd. ACTUAL ~?". Stet°.. PA ~" ~7~ [] Y',. ~.,t ~ ~ North Middleton Carlisle, Pa 17013 (s.~,,,m~ ~. ~s. ~ ma, ~a) ~Tb. ¢ou.~ Cumberland to~.~p? ~Td. [] NO. ~em ~d within ~ctual limits of FAT'MER'S NAME (First, ~dd__~. La~I) , SS. Ben~jamin r.. Herr MOTHER'S NAME (First. Middle, Maiden SL~name) ~,~O, MANT'SNAME cr~,,) ~. Amy R. Herah 20e. ["]arold ~. Keel'~ INFORMANT'S MAILING ADDRESS (StmeL City/'rown, Stem. ap Code) ~,. o~(sp~) ' ~ /'7 [][2,,. OCt. 7, 2003 or Olher Place Westminster s,G~ R OF~ E~SERZCE gR ' ' 6T*NG AS SUCH L,CENSENUMSER 2,=. Memorial Gardens [2~d. Carlisle, PA 17013 ~.~ ~1~4~: I NAMEAND ADDRESS OF FACILITY .orzman-Rocn /~-uneraJ..Home 22I' F% ~- ~ '--~--- 22b. 010343 L 22=.219 N. Hanover St., Carlisle, PA 17Olt i?.PART,: 24.~"'7-5~to:; 3~.]25. /~/i~//lJI~,) ~f, .~)~.~ WASCASERE~'I:~tREDTOAMEDICALEXAMiNER/CORONER? ~aule. En~' UNDERLYING re~JltJng on ~leth ) LAST ~. d. ..... RMED? AVALABLE PRIOR TO . (DAM~T~E DOaFy IyNeJ~)RY TiME OF INJURY INJURY AT WORK? DESCRIBE HOW INJURY OCCURRED. CERTIFIER (~ ~ ~,e) I ~e~a~l=~ex'MaB~t al~l/M'--ll~atlml:l.m~e.nlen, deathe~-~urred atlheflme da. andpl .... ddueteth .......... d (INItemE27A}NTDyPeADODrDRPEI~nSISOF PERSON wHO cOMPLETED cAUSE OF DEATH 3~h,: ....... n, ....................................... ( ) [] OONALD J. KOV~.S. UO 21-2003-877 LAST WILL AND TESTAMENT OF ALBERTA H. KEEN I, ALBERTA H. KEEN, of North Middleton Township, Cumberland County, Pennsylvania, being of sound and disposing mind and memory, do make, publish and declare this to be my Last Will and Testament, hereby revoking all Wills and Codicils by me at any time previously made. I am married to Harold M. Keen (hereinafter referred to as "My Spouse") and the children born of our marriage are Elizabeth A. Keen, Jesse H. Keen and William R. Keen. As used herein the term "my children" shall refer to the aforelisted children born of my marriage with My Spouse. 1. TANGIBLE PERSONAL PROPERTY. (a) I give and bequeath all of my jewelry to my daughter, ELIZABETH A. KEEN, if she survives me. (b) I give and bequeath my First Day Covers collection to my grandchildren, SHAWN T. KEEN, and AMY ELIZABETH KEEN, if living at my death, in as nearly equal shares as they shall select under the supervision of my Executor. If Amy is then a minor, My Executor shall deliver the articles selected by Amy to any person chosen by my Executor whose receipt shall be a complete acquittance therefor. (c) Except as may be provided in paragraphs (a) or (b) above, I give and bequeath all of my household furniture and furnishings, automobiles, other motor vehicles, books, pictures, jewelry, china, crystal, appliances, silverware, wearing apparel, articles of Page 1 of 16 Pages 406446.1 household or personal use or adornment, together with all policies of insurance thereon, to My Spouse, if My Spouse survives me. If My Spouse does not survive me, I give such articles to my children living at my death in as nearly equal shares as they shall select. Any cost of packing and shipping said personalty to the beneficiaries, including insurance, shall be paid by my Executor as a general administration cost. If any such articles cannot be fairly divided or distributed in kind in the opinion of my Executor, such articles shall be sold and the proceeds thereof shall pass as a part of my residuary estate. I request that in dividing my tangible personal property among themselves, my children be guided by any letter or memorandum which I may leave with this Will. Although my children are to be guided by any such letter or memorandum, it shall not be probated as part of my Will or be legally binding, whether signed or not. 2. SPECIAL BEQUESTS AND DIRECTION. (a) If My Spouse dies before me, I give and bequeath the sum of Fifty Thousand Dollars ($50,000.00) to my granddaughter, JENNIFER L. KEEN, now of Camp Hill, Pennsylvania, if she survives me. If she does not survive me, this bequest shall lapse. Notwithstanding any other provisions of this Will, all references in this Will to my "issue" or to the issue of any deceased child of mine, shall be construed to exclude Jennifer L. Keen and all of her issue. Except for the bequest in this ITEM 2, Jennifer L. Keen and all her issue shall not be entitled to share in any distributions of my estate or any trust hereunder. (b) I give and bequeath the sum of Ten Thousand Dollars ($10,000.00) to my friend, HELEN SNYDER, now of Crains Gap Road, Carlisle, Pennsylvania, if she survives me. 3. UNIFIED CREDIT TRUST. I give, devise and bequeath to my Trustee hereinafter named, IN TRUST NEVERTHELESS, to be held, administered and disposed of in accordance with this ITEM for the benefit of My Spouse and my issue (herein referred to as the "Unified Credit Trust") an amount equal to the sum of the Page 2 of 16 Pages balance of the dollar amount not taxed in my estate due to the application to my estate of (i) the applicable credit amount against federal estate tax permitted under Section 2010 of the Internal Revenue Code of 1986, as amended, or any subsequent successor or parallel provision thereto (the "Applicable Credit Amount"), after deducting therefrom the value, for federal estate tax purposes, of (a) assets included in my federal gross estate which pass or have passed other than under the terms of this Will and which will utilize a portion of the Applicable Credit Amount, {b) any bequests under the preceding ITEMS of this Will which will utilize a portion of the Applicable Credit Amount and (c) adjusted taxable gifts not included in my federal gross estate but included in the computation of the tentative federal estate tax in my estate; and (ii) the state death tax credit or deduction allowed for federal estate tax purposes (but only to the extent its use will not increase any Death Taxes, other than Pennsylvania Inheritance or Pennsylvania Estate Taxes, owing by my estate). My Trustee shall have, hold, manage, invest and reinvest the assets of the Unified Credit Trust, collect the income and (a) If My Spouse survives me, beginning at my death, my Trustee shall pay over the net income of the Unified Credit Trust to My Spouse during My Spouse's lifetime, in installments not less frequently than quarterly. In addition, my Trustee shall pay to My Spouse such amounts of the principal of such trust as, in the sole discretion of my Trustee, shall be necessary for the maintenance, support and medical and nursing care of My Spouse, taking into consideration any other means readily available for such purposes. Page 3 of 16 Pages (b) Upon the death of the survivor of My Spouse and me, my Trustee shall distribute the principal and any undistributed income of the Unified Credit Trust to my issue then living, per stirpes; provided, however, that if any such issue has not then attained the age of thirty-five years, such issue's share shall be retained by my Trustee, IN TRUST NEVERTHELESS, to be held, administered and disposed of as a separate trust estate in accordance with ITEM 6 for the benefit of such issue (the "Retention Trust"). 4. REAL ESTATE. If My Spouse dies before me, I give and devise all of my right, title and interest in real estate and improvements situate in North Middleton Township, Cumberland County, Pennsylvania, known and numbered as 871 and 861 Crains Gap Road (comprising approximately 88 acres) and 126 Sheaffer Road (comprising approximately 70 acres), to my children living at my death, as equal tenant in common owners. 5. RESIDUE. I give, devise and bequeath all of the rest, residue and remainder of my property, real, personal and mixed, not disposed of in the preceding portions of this Will, including all property over which I hold a power of appointment (which powers of appointment I hereby exercise in favor of my estate), to My Spouse, if My Spouse survives me. If My Spouse does not survive me, I give my said residuary estate to my issue living at my death, per stirpes; provided, however, that should any such issue shall not then have attained the age of thirty-five years, each such issue's share shall be distributed to my Trustee hereinafter named, IN TRUST NEVERTHELESS, to be held, administered Page 4 of 16 Pages and disposed of as a separate trust estate in accordance with ITEM 6 for the benefit of such issue (the "Retention Trust"). 6. RETENTION TRUST. My Trustee shall have, hold, manage, invest and reinvest the assets of the Retention Trust, collect the income and (a) Until the beneficiary of the Retention Trust (the "Beneficiary") shall have attained the age of twenty-one years, my Trustee shall from time to time pay to or for the benefit of the Beneficiary such amounts of the net income and principal of the Retention Trust as, in the sole discretion of my Trustee, shall be necessary for the Beneficiary's maintenance, support, medical and nursing care and education, including college and graduate education, taking into consideration any other means readily available for such purposes. At the end of each year any unexpended income shall be added to the principal of the Retention Trust. (b) After the Beneficiary shall have attained the age of twenty-one years, my Trustee shall thereafter pay to the Beneficiary the net income derived from the Retention Trust in installments not less frequently than quarterly and such amounts of the principal as, in the sole discretion of my Trustee, shall be necessary for the Beneficiary's maintenance, support, medical and nursing care and education, including college and graduate education, taking into consideration any other means readily available for such purposes. (c) If at the time of the creation of the Retention Trust the Beneficiary shall have then attained the age of thirty-five years, or if the Beneficiary shall thereafter attain that age, the Trustee shall distribute outright to the Beneficiary the then remaining principal and any accumulated income of the Retention Trust. (d) If the Beneficiary should die before attaining the age of thirty-five years, the then remaining principal and any undistributed income of the Retention Trust shall be distributed to the Beneficiary's issue then living, per stirpes, or if the Beneficiary has no issue then living, then to the issue then living of the Page 5 of 16 Pages parent of the Beneficiary who was an issue of mine, per stirpes, or, if such parent shall have no issue then living, to my issue then living, per stirpes; provided, however, in any event, if any such beneficiary is then a beneficiary of a Retention Trust hereunder, the share of such beneficiary shall be added to the principal of such Retention Trust, as if an integral part thereof, to be held, administered and disposed of in accordance with the terms thereof. 7. PERPETUITIES PROVISIONS. Nothing herein is intended to, nor shall it be construed to, postpone the vesting of any part of the assets of any separate trust estate hereunder for more than twenty-one years after the death of the survivor of me, My Spouse and my issue living at the time of my death. At the expiration of such period the assets of all the separate trust estates hereunder shall immediately vest in fee simple absolute in and be distributed outright to the person or persons then entitled to receive the income therefrom, whether in my Trustee's discretion or otherwise. 8. SPENDTHRIFT PROVISION. No interest in income or principal of my estate or any trust created hereunder shall be subject to attachment, levy or seizure by any creditor, spouse, assignee or trustee or receiver in bankruptcy of any beneficiary of my estate or of any trust created hereunder prior to the beneficiary's actual receipt thereof. My Executor or Trustee shall pay over the net income and the principal to the beneficiaries herein designated, as their interests may appear, without regard to any attempted anticipation (except as may be Page 6 of 16 Pages specifically provided herein), pledging or assignment by any beneficiary of my estate or of any trust created hereunder and without regard to any claim thereto or attempted levy, attachment, seizure or other process against said beneficiary. 9. SURVIVAL PRESUMPTIONS. Any person who shall have died at the same time as I or under such circumstances that it is difficult or impossible to determine who shall have died first, shall be deemed to have predeceased me. Any person other than me who shall have died at the same time as any then beneficiary of income of my estate or a trust created hereunder or under such circumstances that it is difficult or impossible to determine who shall have died first, shall be deemed to have predeceased such beneficiary. 10. FIDUCIARY POWERS. In the settlement of my estate and during the continuance of any trust created hereunder, my Executor and my Trustee shall possess, among others, the following powers, exercisable without prior court approval, but in all cases to be exercised for the best interests of the beneficiaries (subject to the limitations of ITEM 16 hereof): (a) To retain any investments I may have at my death so long as my Executor or Trustee may deem it advisable to my estate or trust so to do, including securities owned, issued or underwritten by any corporate Executor or Trustee or any of their affiliates. (b) To vary investments, when deemed desirable by the Trustee, and to invest in every kind of property and type of investment, including securities owned, issued Page 7 of 16 Pages or underwritten by any corporate Trustee or any of its affiliates, or as to which such Trustee or its affiliate acts as investment advisor, as the Trustee shall deem wise. (c) In order to effect a division of the principal of my estate or trust or for any other purpose, including any final distribution of my estate or trust, my Executor or Trustee is authorized to make said divisions or distributions of the personalty and realty partly or wholly in kind. If such division or distribution is made in kind, said assets shall be divided or distributed at their respective values on the date or dates of their division or distribution. In making any division or distribution in kind, my Executor or Trustee shall divide or distribute said assets in a manner which will fairly allocate any unrealized appreciation among the beneficiaries. (d) To sell either at public or private sale and upon such terms and conditions as my Executor or Trustee may deem advantageous to my estate or trust, any or all real or personal estate or interest therein owned by my estate or trust severally or in conjunction with other persons or acquired after my death by my Executor or Trustee, and to consummate said sale or sales by sufficient deeds or other instruments to the purchaser or purchasers, conveying a fee simple title, free and clear of all trust and without obligation or liability of the purchaser or purchasers to see to the application of the purchase money or to make inquiry into the validity of said sale or sales; also, to make, execute, acknowledge and deliver any and all deeds, assignments, options or other writings which may be necessary or desirable in carrying out any of the powers conferred upon my Executor or Trustee in this paragraph or elsewhere in this Will. (e) To mortgage real estate and to make leases of real estate for any term. (f) To borrow money from any party, including my Executor or Trustee, to pay indebtedness of mine or of my estate or trust, expenses of administration, Death Taxes or other taxes. (g) To pay all costs, expenses, legally enforceable debts, funeral expenses and charges in Page 8 of 16 Pages connection with the administration of my estate or trust. (h) To vote any shares of stock which form a part of my estate or trust and to otherwise exercise all the powers incident to the ownership of such stock and to actively manage and operate any incorporated or unincorporated business, including any joint ventures and partnerships, and to incorporate any such unincorporated business, with all the rights and powers of any owner thereof. (i) In the discretion of my Executor or Trustee, to unite with other owners of similar property in carrying out any plans for the reorganization of any corporation or company whose securities form a part of my estate or trust. (j) To assign to and hold in my estate or trust an undivided portion of any asset. (k) To hold investments in the name of a nominee. (1) To compromise controversies. (m) To disclaim, in whole or in part, any and all interests in property owned by me at the time of my death, including those passing to me by Will, intestacy, contract, joint ownership, operation of law or otherwise. {n) To divide any trust hereunder into two or more separate, but identical, trusts. To divide any trust hereunder which would have a generation skipping transfer tax inclusion ratio other than one (1) or zero (0), into two (2) separate trusts which are fractional shares, known as the "exempt trust" and the "nonexempt trust" The exempt trust is that fractional share of the total trust fund that has a generation skipping transfer tax inclusion ratio of zero (0), and the nonexempt trust is the remaining fractional share of the trust, with a generation skipping transfer tax inclusion ratio of one (1) . The terms and conditions of the nonexempt trust and the exempt trust will be identical. Any reference to a trust created under this Will, without a further specification or limitation, shall be deemed to refer to both the exempt trust and the nonexempt trust, in proportionate amounts, where Page 9 of 16 Pages relevant. The assets of each separate exempt and nonexempt trust shall be held, administered and invested as separate trusts, and my Trustee shall maintain adequate accounting and records for both such trusts. My Executor shall indicate on the federal estate tax return filed for my estate that separate trusts will be created (or funded) and clearly set forth the manner in which the trust is to be severed and the separate trusts funded. (o) To designate one or more persons or a corporation to act as ancillary fiduciary in any jurisdiction in which ancillary administration may be necessary, such ancillary fiduciary to serve without bond or security and to have all powers, authorities and discretions conferred hereunder. (p) To employ and compensate from income or principal, in the discretion of my Executor or Trustee, investment and legal counsel, accountants, brokers and other specialists, and, whenever there shall be no corporate Executor or Trustee in office, a corporate custodian, and to delegate to investment counsel discretion with respect to the investment and reinvestment of any or all of the assets held hereunder. (q) To manage and develop all or any part of any real property that may be owned by my estate or any trust, including but not limited to, the power to subdivide (including the dedication of parks, easements or streets, with or without consideration); to obtain the vacation of a plat or adjust boundaries; to submit property to a condominium project and do all acts necessary in connection therewith; to grant options to purchase or to lease; to construct buildings or to alter or remove buildings, and make such improvements to real property as my Executor or Trustee determines to be appropriate (including improvements not situated directly on the particular real property); to grant easements or encumbrances of any kind, and to release any interest in the property; and to abandon or demolish any property including an interest in real property deemed by my Executor or Trustee to be worthless or of insufficient value to keep or protect. 11. EXCULPATORY CLAUSES. In the settlement of my estate: Page 10 of 16 Pages (a) My Executor shall not be personally liable for any loss to my estate or to any beneficiary of my estate resulting from an election made in good faith to claim a deduction as an income tax deduction or as an estate tax deduction. (b) In valuing property in my gross estate for the purposes of any Death Tax, my Executor shall not be personally liable for any loss to my estate or to any beneficiary of my estate resulting from my Executor's decision made in good faith to use a particular valuation date. 12. TAX CLAUSE. Ail inheritance, estate and similar taxes becoming due by reason of my death, except any taxes relating to generation skipping transfers imposed under Chapter 13 of Subtitle B of the Internal Revenue Code, as amended ("Death Taxes"), whether such Death Taxes shall be payable by my estate or by any recipient of any property, shall be paid by my Executor first out of the property passing under ITEM 3 of this Will and then out of the property passing under ITEM 5, in either case, as an expense and cost of administration of my estate; provided, however, that if any property held in any testamentary or inter vivos trust created by My Spouse is includable in my estate for purposes of any Death Tax, then any Death Tax attributable to the inclusion of any such property in my estate for the purposes of that Death Tax shall be paid out of such property or by the recipients of such property; and, if such Death Taxes are nevertheless paid by my Executor, I direct my Executor to obtain reimbursement or contribution for any such taxes paid by my Executor. Except to the extent above provided, my Executor shall Page 11 of 16 Pages have no duty or obligation to obtain reimbursement for any Death Taxes paid by my Executor, even though paid with respect to proceeds of insurance or other property not passing under this Will. 13. CUSTODIAN OF ESTATES. If at any time any individual under the age of twenty-one shall be entitled to receive any assets free of trust by reason of my death, whether payable hereunder, by operation of law, contract or otherwise, I appoint my Trustee hereinafter named as Custodian for such individual under the Pennsylvania Uniform Transfers to Minors Act. 14. TRUST TERMINATIONS. (a) If there should be established by My Spouse, either by Last Will and Testament or by inter vivos Deed or Agreement, trusts similar to the trusts herein established for the benefit of my issue, my Trustee shall have the right and power to merge trusts herein established with similar trusts for the same beneficiaries established by My Spouse and to operate each of the merged trusts as a single trust. (b) If, in the opinion of my Trustee, at any time any trust hereunder is or becomes too small to justify its maintenance as a separate trust, my Trustee, in my Trustee's sole discretion and without the necessity of court approval, shall terminate such trust by distributing all the income and principal of the trust to the then income beneficiary of said trust. If any additions to any such trust are received after its termination under this ITEM, such trust shall be revived and this provision shall continue to apply to it. 15. EXECUTOR POWERS REGARDING BASIS ADJUSTMENT. I hereby authorize my Executor in my Executor's sole and absolute discretion to allocate any adjustments to the income tax basis of Page 12 of 16 Pages assets of my estate to such assets as my Executor deems to be appropriate. I recognize that this power gives my Executor broad latitude which I wish my Executor to exercise while taking into account such factors as my Executor deems beneficial to all of the beneficiaries of my estate. My Executor shall not be liable for any loss to my estate or to any beneficiary of my estate resulting from such allocation made in good faith. 16. KEEN TRANSPORT COMPANY. (a) I anticipate that my interest in Keen Transport Company or a successor business organization may be held hereunder. I intend that my fiduciaries shall have complete freedom to deal with such interest as they deed most advantageous for my estate and the trusts hereunder, subject to any limitations I may have accepted or contracted for during my lifetime. To this end, I recognize that exercise of the discretionary powers conferred on my fiduciaries by other provisions of this Will may involve an unusual degree of delegation of discretion, that one or more of the fiduciaries may frequently be dealing with the trust as an employee, agent, creditor or purchaser of the business and that it may be desirable to retain the interest or invest additional assets therein even though this involves a larger degree of risk or less diversification than is customary for fiduciary investment and I authorize all such actions to be taken without approval of any court or other persons. (b) So long as my shares of stock in Keen Transport Company or a successor business organization are an asset of my Estate or any Trusts hereunder, My Spouse shall have the sole and absolute authority to vote such shares until My Spouse's death or incapacitation, at which time, my children, living from time to time, by majority vote, shall be authorized to vote such shares. I direct my Executor and Trustee to comply with My Spouse's or my children's directives with regard to such voting. Page 13 of 16 Pages 17. EXECUTOR APPOINTMENT. I hereby appoint My Spouse, HAROLD M. KEEN, as Executor of this Will. If for any reason My Spouse should fail or cease to act, I appoint my children, ELIZABETH A. KEEN, JESSE H. KEEN and WILLIAM R. KEEN, as Co- Executors. If for any reason any of them should fail or cease to act, the other(s) shall act or continue to act with all of the powers granted to the three of them. Ail references in this Will to my "Executor" shall refer to my originally named Executor, to my successor Co-Executors or to my sole successor Executor or Executrix, as the case may be. 18. TRUSTEE APPOINTMENT. I hereby appoint My Spouse, HAROLD M. KEEN, and my son, WILLIAM R. KEEN, as Co-Trustees of any trust created hereunder. If for any reason either of them should fail or cease to act, I appoint my son, JESSE H. KEEN, as the first alternate, and my daughter, ELIZABETH A. KEEN, as the second alternate Co-Trustee. So long as a Trustee or the issue of such Trustee is a beneficiary of any trust hereunder, such Trustee shall not (i) participate in any discretionary determination of the Trustee to distribute principal or income of such trust to or for the benefit of such beneficiary or to his or her issue; or (ii) participate in any discretionary determination of the Trustee to terminate said trust under the ITEM hereof entitled "TRUST MERGERS AND TERMINATIONS". An individual Trustee shall be deemed to have failed to serve as Trustee hereunder if, among other Pa~e 14 of 16 Pa~es reasons, the treating physician of said individual Trustee shall certify in writing that such Trustee possesses permanent mental or physical incapacities which preclude such Trustee from discharging his or her duties as Trustee hereunder. If there is ever only one Trustee serving hereunder and no successor is herein named, such sole Trustee may, by written notice directed to the life tenant and the Trust, designate his or her successor(s) or Co-Trustee(s) to serve with him or her, any such designation to be effective without court approval. Any Trustee serving hereunder shall have the right to resign from such office at any time, with or without cause and without Court approval. No successor Trustee shall be liable for the actions of a resigning or removed Trustee occurring prior to such successor Trustee taking office. Ail references in this Will to my "Trustee" shall refer to my originally named Co- Trustees or to my sole successor Trustee, as the case may be. 19. WAIVER OF BOND; FIDUCIARY FEES. My Custodian, Executor and Trustee shall qualify and serve without the duty or obligation of filing any bond or other security. IN WITNESS WHEREOF, I have set my hand and seal to this, my Last Will and Testament, consisting of this and the preceding Page 15 of 16 Pages fifteen (15)pages, this _~A day of __~~ , 2001. ~"~"Y'~f~-__~-~--~'~/__ ( SEAL ) Alberta H. Keen We, the undersigned, hereby certify that the foregoing Will was signed, sealed, published and declared by the above-named Testatrix as and for 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 meanecution th. erreof, the said Testatrix was of sound and disposing -~_ (SEAL) ~signg . _ _ ~.'_.)~Z~ (SEAL) Residing at:_~ m~,'~iff~N ~ Page 16 of 16 Pages COMMONWEALTH OF PENNSYLVANIA : : SS: COUNTY OF : We, ALBERTA H. KEEN, ,_~ /~ A t~a%~.~ and ~)//~ ~ ~7~ ~/~, the Testatrix and the Witnesses, respectively, whose names are signed to the foregoing instrument, having been sworn, do hereby declare to the undersigned officer that the Testatrix, in the presence of the Witnesses, signed said instrument as her Last Will and Testament, that she signed voluntarily, that each of the witnesses, in the presence of the Testatrix and of each other, signed said Will as a witness and that to the best of the knowledge of each witness, the Testatrix was at the time of sound mind and under no constraint or undue influence. Witness Subscribed and acknowledged before me by ALBERTA H. KEEN, the Testatrix, and subscribed and sworn to before me by S~ ~ ~ ~,~ and ~~~~V~, the witnesses, o~ t['~ ~ ~a~ o~ ~'~,~ ~ , ~00~. Notary Public ~ ~o=~s~on ~x~res: (SEAL) NOTARIAL S~L Doris G. Smith, Nota~ Public Middlesex ~p, Coun~ of Cumberl~d My Commission ~pires Mar. 6, ~ 208778.1 LAST WILL AND TESTAMENT OF ALBERTA H. KEEN ATTORNEYS AT LAW ONE SOUTH ~ARKET SQUARE P.O. BOX 1146 HARRISBURG, PA 17108-1146 CERTIFICATE OF NOTICE UNDER RULE 5.6(a) Name of Decedent: Alberta H. Keen Date of Death: October 3, 2003 Will No. Adm. No. 2003-00877 To the Register: I certify that notice of estate administration required by Rule 5.6(a) of the Orphans' Court Rules was served on or mailed to the following beneficiaries of the above-captioned estate on November 4, 2003. Name Address Ms. Elizabeth A. Keen 680 Cranes Gap Road Carlisle, PA 17013 Mr. Jesse H. Keen 1487 Fairmont Drive Harrisburg, PA 17109 Mr. William R. Keen c/o Keen Transport Company 1951 Harrisburg Pike Carlisle, PA 17013 Mr. Harold M. Keen 871 Cranes Gap Road Carlisle, PA 17013 Ms. Amy E. Keen c/o Mr. William R. Keen, as Parent and Natural Guardian Keen Transport Company 195 ! Ham'sburg Pike Carlisle, PA 17013 Mr. Shawn T. Keen c/o Keen Fabrication and Speed Equipment, Inc. 848 North Hanover Street Carlisle, PA 17013 Ms. Helen Snyder 845 Cranes Gap Road Carlisle, PA 17013 492956.1 Notice has now been given to all persons entitled thereto under Rule 5.6(a) except NO EXCEPTIONS f _/'ii · Date: November ~, 2003 Signature: d Name: ~ Smith, Egquire Address: Rhoads & Sinon LLP One South Market Square, 12th Floor P. O. Box 1146 Harrisburg, PA 17108-1146 Telephone: (717) 233-5731 Capacity: Personal Representative X Counsel for Personal Representative ~i;.~ Kimberly A. Meals RHOADS ~tt~til~i~ ph (717) 231-6671 ~--'-'-"~' fx (717) 232-1459 & S INON LLP kmeals~rhoads-sinon.com F~LE NO: 8701/01 March 24, 2004 Re: Estate of Alberta H. Keen Register of Wills Cumberland County Courthouse ~ ~' 1 Courthouse Square ~ :'~ Carlisle, PA 17013 "' Dear Sir or Madam: Enclosed are the following in connection with the above-captioned Estate: ~ 1. Pennsylvania Inheritance Tax Return, in duplicate, showing tax du.e~ 2. Check in the sum of $1,737.00 in payment of tax due. 3. A copy of the Federal Estate Tax Return as filed with the IRS. 4. Inventory. 5. Check in the sum of $31.00 in payment of your filing fees for the Return and Inventory. 6. A copy of this letter, with the first page of Return attached, which we ask that you time stamp and return to us. Very truly yours, RHOADS & SINON LLP By: K~e~l~y A~. ~ ~, ~ Paralegal Enclosures cc: Harold M. Keen, Executor (w/encl.) Stanley A. Smith, Esquire 508408.1 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 REV-1500 EX (8-00) OFFICIAL USE ONLY COMMONWEALTH OF REV- 1 500 DEPARTMENT OF REVENUE OEPT. 28o60 INHERITANCE TAX RETURN F,LE NUMBER HARRISBURG.PA 17128-O601 RESIDENT DECEDENT __21- 0 8 7 7 COUNTY CODE YEAR NUMBER I DECEDENT'S NAME (LAST. FIRST. AND MIDDLE INITIAL) SOCIAL SECURITY NUMBER ~ Keen Alberta Z H 194-20-3991 1.1.1 DATE OF DEATH (MM-DD-YEAR) I DATE OF BIRTH (MM-DD-YEAR) THIS RETURN MUST BE FILED IN DUPUCATE WITH THE '" 10/3/2003 I 5/6/1922 REGISTER OF WILLS uJ (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST. FIRST. AND MIDDLE INITIAL) SOCIAL SECURITY NUMBER Harold M. Keen ~ ~J 1. Original Return I I 2. Supplemental Return I I 3. Remainder Return (date of death prior ,o 12-13,.8 ,,~~ ~O ~:v~ ~ 4. Limited Estate r~ 4a. Future Interest Compromise (date of death after 12-12-82) ~-~ 5. Federal Estate Tax Return Required ~: Oo ~-J ~-~ O. Decedent Died Testate (Attach copy of Will) ~ 7. Decedent Maintained a Living Trust (Attach copy of Trust) 0 8. Total Number of Safe Deposit Boxes ~ 9. Litigation Proceeds Received ~-~ 10. Spousal Poverty Credit (date of death between 12-31-91 and 1-1-S5) ,.Z, NAME COMPLETE MAILING ADDRESS z Stanley A. Smith, Esquire P.O. Box 1146 o a. FIRM NAME (If Applicable) ~ Harrisburg, PA 17108-1146 x Rhoads & Sinon, LLP O TELEPHONE NUMBER 717-233-5731 1. Real Estate (Schedule A) (1) 450, 000. 00 OFFICIAL USE ONLY 2. Stocks and Bonds (Schedule B) (2) 117, 051. 00 3. Closely Held Corporation. Partnership or Sole-Proprietorship (3) 504, 469.39 4. Mortgages & Notes Receivable (Schedule D) (4) 0 . 00 5. Cash, Bank Deposits & Miscellaneous Personal Property (schedule E) (,5) 5, 266. 73 Z O. Jointly Owned Property (Schedule F) 0 . 00 O - J"- Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7) 0 00 ~ (Schedule G or L) ' I-- ~:~ 8. Total Gross Assets (total Lines 1-7) (8) 1, 076, 787. 12 LM 9. Funeral Expenses & Administrative Costs (Schedule H) (9) 25, 625 86 n' ' 10. Debts of Decedent. Mortgage Liabilities. & Liens (Schedule I) (10) 0. 00 I 1. Total Deductions(total Lines 9 & 10) (11) 25, 625 . 86 12. Net Value of Estate (Line 8 minus Line 11) (12) l, 051, 161.26 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) (13) 282,457.41 14. Net Value Subject to Tax (Line 12 minus Line 13) (14) 768, 703. 85 SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax Z rate, or transfers under Sec. 9116 (a)( 1.2) 753, 437. 12 x .0 0 . 00 (15) 0 . 00 O  5 266.73 45 237 00 I§. Amount of Line 14 taxable at lineal rate ' x .0 ( 1 §) · ::3 ~- 7. Amount of Line 14 taxable at sibling rate 0 . 00 0. 00 ~ x .12 (17) O ~.) 18. Amount of Line 14 taxable at collateral rate 10, 000 . 00 x.15 (18) 1, 500 . 00 F-~ 19. Tax Due (19) 1,737.00 HASPXXNUMBER Estate of Alberta H Keen 194-20-3991 Executors (Page 1) Name Harold M. Keen Address c/o Rhoads & Sinon, LLP P.O. Box 1146 Harrisburg, PA 17108-1146 Tax ID 173-05-9918 Decedent's Complete Address: STREET ADDRESS 871 Cranes Gap Road Cumberland Carlisle J STATE JZ'P PA 17013 - Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) (1) 1,737.00 2. Credits/Payments A. Spousal Poverty Credit 0.00 B. Prior Payments 0.00 C. Discount 0.00 Total Credits (A + B + C) (2) 0o 00 3. Interest/PenalW if applicable D. Interest 0.00 E. Penalty 0.00 Total Interest/Penalty (D + E) (3) 0o 00 4. If Line 2 is greater than Line 1 + Line ;3, enter the difference. This is the OVERPAYMENT. Check box on Page I Line 20 to request a refund (4) 0.00 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 1,737.00 A. Enter the interest on the tax due. (SA). 0.00 B. Enter the total of Line § + 5A. This is the BALANCE DUE. (5B) 1,737.00 Make Check Payable to: REG/STER OF W/U.S. AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred; ....................... b. retain the right to designate who shall use the property transferred or its income; ......... ~ [-~ c. retain a reversionary interest; or ................................ ~ ~-] 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? ............................ [~ ~-] 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? J~J [] 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. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other t~an the personal representative is based on all information of which preparer has any knowledge. SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN DATE c/o Rhoads & ~on, LLP, P.O. Box 1146 Harrisburg, PA 17108-1146 SIGNATURE OF ~T~ER TH.~AI~ ~/~PRESENTATIVE DATE ADDRESS {~.~ - - - v- Jl Rhoads & Sinon, LLP, P.O. Box 1146 Harrisburg, PA 17108-1146 For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3% [72 P.S. § 9916 (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 0% [72 P.S. § 9116 (a) (1.1) (ii)] The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surwving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent. or a stepparent of the child is 0% [72 P.S. § 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 4.5%, except as noted in 72 P.S. § 9116( 1.2) [72 P.S. § 9116(a)( 1 )]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% (72 P.S. § 9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. HASPXXNUMBER REV-1502EX + (1-97) SCHEDULE A COMMONWEALTH OF PENNSYLVANIA REAL ESTATE INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Alberta H Keen 21-03-0877 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchange between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which is joint¥owned wit right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1. Real property situate at 126 Sheaffer Road, Carlisle, Cumberland County, Pennsylvania, more particularly described in Deed dated June 13, 1990, and recorded in the Office of the Recorder of Deeds in and for Cumberland County at Book P, Volume 34, Page 775 valued per attached appraisal 450,000.00 TOTAL (Also enter on line 1, Recapitulation) $ 450, 000.00 HASPXXNUMBER (If more space is needed, insert additional sheets of the same size) REV-1503 EX + (1-97) SCHEDULE B COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Alberta H Keen 21-03-0877 All property join~y~wned w~h Hght ~ su~ivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRI~ION OF DEATH 1. 25 Shares Berkshire Hathaway Inc Del C1 B New York Stock Exchange CUSIP: 084670207 63,386.25 2 1,310 Shares Blackrock Income Opp Tr Inc Common New York Stock Exchange CUSIP: 092475102 14,279.00 3 2,192.982 Units Dryden Municipal Bond Fund High Income Series CL C 21,951.75 4 100 Shares Forest Labs Inc Common New York Stock Exchange CUSIP: 345838106 4,924.00 5 2,000 Shares Mfs Multimarketing Income Tr Sh Ben Int New York Stock Exchange CUSIP: 552737108 12,510.00 TOTAL (Aisc enter on line 2, Recapitulation) $ 1 1 7, 0 5 1.0 0 HASPXXNUMBER (If more space is needed, insert additional sheets of the same size) REV-1504 EX + (1-97) SCHEDULE C COMMONWEALTH OF PENNSYLVANIA CLOSELY-HELD CORPORATION, INHERITANCE TAX RETURN PARTNERSHIP or SOLE-PROPRIETORSHIP RESIDENT DECEDENT ESTATE OF FILE NUMBER Alberta H Keen 21-03-0877 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 1. Keen Transport Company Stock Non-voting 504,469.39 TOTAL (Aisc enter on line 3, Recapitulation) $ 5 0 4,4 6 9.3 9 HASPXXNUMBER (If more space is needed, insert additional sheets of the same size) REV-1505 EX + (1-97) (I) SCHEDULE C-1 co- o.wL . CLOSELY-HELD CORPORATE INHERITANCE TAX RETURN RESIDENT DECEDENT STOCK INFORMATION REPORT ESTATE OF FILE NUMBER Alberta [--[. Keen 21-03-0877 1. Name of Corporation Keen Transport Company Stateoflncorporation Ohio Address 1951 Harrisburq Pike Date of lncorporation June 6, 1968 Cib/ Car 1 i s 1 e Stme PA Zip Code 17013 Total Numb~ of Shareholders 2. Federal Employer I.D. Number Business Reporting Year 3. Type of Business Truckinq Product/Service 4, TYPE TOTAL NUMBER OF NUMBER OF SHARES VALUE OF THE STOCK Voting / Non-Voting SHARES OUTSTANDING PAR VALUE OWNED BY THE DECEDENT DECEDENT'S STOCK COmmon See attached See attached See attached See attached $ 5 0 4,4 6 9.3 9 Preferred $ Provide all rights and restrictions pertaining to each class of stock. 5. Was the decedent employed by the Corporation? [] Yes [] No If yes, Position Annual Salary $ 'l~me Devoted to Business 6. Was the Corporation indebted to the decedent? [] Yes [] No If yes, provide amount of indebtedness $ 7. Was there lifo insurance payable to the corporation upon the death of the decedent? [] Yes [] No If yes, Cash Surrender Value $ Net proceeds payable $ Owner of the policy 8. Did the decedent sell or transfor stock of this company within one year prior to death or within two years if the date of death was pdor to 12-31-827 [] Yes [] No If yes, [] Transfor [] Sale Number of Shares Transferee or Purchaser Consideration $ Date Attach a separate sheet for additional kansfers and/or sales. 9. Was there a written shareholder's agreement in effect at the time of the decedenrs death? [] Yes [] No If yes, provide a copy of the agreement. 10. Was the decedent's stock sold? [] Yes [] No If yes, provide a copy of the agreement of sale, etc. 11. Was the corporation dissolved or liquidated after the decedenrs death? [] Yes [] No If yes, provide a breakdown of distributions received by the estate, including dates and amounts received. 12. Did the corporation have an interest in other corporations or partnerships? [] Yes [] No If yes, report the necessary information on a separate sheet, including a Schedule C-1 or C-2 for each interest. A. Detailed calculations used in the valuation of the decedent's stock. B. Complete copies of financial statements or Federal Corporate Income Tax ratums (Form 1120) for the year of death and 4 preceding years. C. If the corporation owned real estate, submit a list showing the complete address/es and estimated fair market value/s. If real estate appraisals have been secured, attach copies. D. List of principal stockholders at the date of death, number of shares held and their relationship to the decedent. E. List of officers, their salaries, bonuses and any other benefits received from the corporation. F. Statement of dividends paid each year. List those declared and unpaid. G. Any other information relating to the valuation of the decedenrs stock. STF PA42021F.6 REV-1508 EX + (1-97) SCHEDULE E COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC. INHERITANCE TAX RETURN RESIDENT DECEDENT PERSONAL PROPERTY ESTATE OF FILE NUMBER Alberta H Keen 21-03-0877 Include the ,roceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorship must be disclosed on Schedule ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. First Day Cover Stamp Collection 41.73 2 Jewelry Valued per attached appraisal 5,225.00 TOTAL (Also enter on line 5, Recapitulation) HASPXXNUMBER (If more space is needed, insert additional sheets of the same size) REV-1511 EX + (1-97) SCHEDULE H COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES & INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT ESTATE OF FILE NUMBER Alberta H Keen 21-03-0877 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1. B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) Social Security Number(s) / EIN Number of Personal Representative(s) - Street Address City State __ Zip Year(s) Commission Paid: 2. Attorney Fees Rhoads & Sinon, LLP 24,500.00 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 515.00 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. 1 Cumberland Law Journal Legal Advertisement of Letters Te s tamentary 75.00 Total from continuation pages 535.86 TOTAL (Also enter on line 9, Recapitulation) $ 2 5,6 2 5.8 6 HASPXXNUMBER (If more space is needed, insert additional sheets of same size) Schedule H part 2 (Page 2) Estate of: Alberta H Keen Item No. Description Amount 2 RESERVES: Rhoads & Sinon LLP Out of Pocket Expenses to include: Telephone $3.41; Postage - $14.04; Stock Evaluation - $9.30; Title Search - $125.00; Photocopies $17.25; Courier - $20.00; RESERVES: Filing Fee - Inventory and Inheritance Tax Return - $34.00; Miscellaneous Expenses $100.00. 323.00 3 S.W. Barrett Real Estate Appraisal of Real Estate 100.00 4 The Sentinel Legal Advertisement Letters Testamentary 112.86 Total (Carry forward to main schedule) 535.86 REV-1513 EX+ (9-00) SCHEDULE J COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Alberta H Keen 21-03-0877 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I. TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1. Amy E. Keen c/o Mr. William R. Keen Keen Transport Company, 1951 Harrisburg Pike Carlisle, PA 17013 First Day Covers under ITEM 1 (b) of decedent' s Will ~randdaughter 20.87 2 Elizabeth A. Keen 680 Cranes Gap Road Carlisle, PA 17013 Jewelry under Item l(a) of decedent's Will )aughter 5,225.00 Total from continuation pages 763,457.98 iNTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE ON RE~1500 COVER SHEIr II. NON-TAXABLE DISTRIBUTIONS: A, SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE 1. Unified Credit Trust created under Item 3 of decedent's Will 282,457.41 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1. TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 282,457.41 HASPXXNUMBER (If more space is needed, insert additional sheets of the same size) Schedule J part 1 (Page 2) Estate of: Alberta H Keen Item No. Description Relation Amount 3 Harold M. Keen 871 Cranes Gap Road Carlisle, PA 17013 Residue: Surviving Spouse 753,437.12 4 Shawn T. Keen c/o Keen Fabrication and Speed Equipment, Inc. 848 North Hanover Street Carlisle, PA 17013 First Day Covers under ITEM l(b) of decedent's Will Grandson 20.86 5 Helen Snyder 845 Cranes Gap Road Carlisle, PA 17013 Cash Bequest under ITEM 2(b) None 10,000.00 Total (Carry forward to main schedule) 0.00 INDEX ESTATE OF ALBERTA H. KEEN SSN: 194-20-3991 DOD: 10/3/2003 PENNSYLVANIA INHERITANCE TAX RETURN INDEX TO EXHIBITS Document Return Reference 1. Last Will and Testament Page 1, Line 8 2. Appraisal, 126 Sheaffer Road, Carlisle, Pennsylvania Schedule A, Item 1 3. Keen Transport Company Schedule C-1 A. Valuation Report B. Financial Statements C. Summary of stock ownership D. List of stockholders and shares held 4. Amended and Restated Buy-Sell Agreement Schedule C-1 5. Declination and Waiver of Exercise of Option Schedule C- 1 6. Appraisal, Jewelry Schedule E, Item 2 7. Calculation of Residue 508949.1 NUMBER ATTORNEYS AT LAW ONE SOUTH ~ARKET P.O. Box 1146 HARRISBURg08-1146 LAST WILL AND TESTAMENT OF ALBERTA H. KEEN I, ALBERTA H. KEEN, of North Middleton Township, Cumberland County, Pennsylvania, being of sound and disposing mind and memory, do make, publish and declare this to be my Last Will and Testament, hereby revoking all Wills and Codicils by me at any time previously made. I am married to Harold M. Keen (hereinafter referred to as "My Spouse") and the children born of our marriage are Elizabeth A. Keen, Jesse H. Keen and William R. Keen. As used herein the term "my children" shall refer to the aforelisted children born of my marriage with My Spouse. 1. TANGIBLE PERSONAL PROPERTY. (a) I give and bequeath all of my jewelry to my daughter, ELIZABETH A. KEEN, if she survives me. (b) I give and bequeath my First Day Covers collection to my grandchildren, SHAWN T. KEEN, and AMY ELIZABETH KEEN, if living at my death, in as nearly equal shares as they shall select under the supervision of my Executor. If Amy is then a minor, My Executor shall deliver the articles selected by Amy to any person chosen by my Executor whose receipt shall be a complete acquittance therefor. (c) Except as may be provided in paragraphs (a) or (b) above, I give and bequeath all of my household furniture and furnishings, automobiles, other motor vehicles, books, pictures, jewelry, china, crystal, appliances, silverware, wearing apparel, articles of Page 1 of 16 Pages 406446.1 household or personal use or adornment, together with all policies of insurance thereon, to My Spouse, if My Spouse survives me. If My Spouse does not survive me, I give such articles to my children living at my death in as nearly equal shares as they shall select. Any cost of packing and shipping said personalty to the beneficiaries, including insurance, shall be paid by my Executor as a general administration cost. If ~ny such articles cannot be fairly divided or distributed in kind in the opinion of my Executor, such articles shall be sold and the proceeds thereof shall pass as a part of my residuary estate. I request that in dividing my tangible personal property among themselves, my children be guided by any letter or memorandum which I may leave with this Will. Although my children are to be guided by any such letter or memorandum, it shall not be probated as part of my Will or be legally binding, whether signed or not. 2. SPECIAL BEQUESTS AND DIRECTION. (a) If My Spouse dies before me, I give and bequeath the sum of Fifty Thousand Dollars ($50,000.00) to my granddaughter, JENNIFER L. KEEN, now of Camp Hill, Pennsylvania, if she survives me. If she does not survive me, this bequest shall lapse. Notwithstanding any other provisions of this Will, all references in this Will to my "issue" or to the issue of any deceased child of mine, shall be construed to exclude Jennifer L. Keen and all of her issue. Except for the bequest in this ITEM 2, Jennifer L. Keen and all her issue shall not be entitled to share in any distributions of my estate or any trust hereunder. (b) I give and bequeath the sum of Ten Thousand Dollars ($10,000.00) to my friend, HELEN SNYDER, now of Crains Gap Road, Carlisle, Pennsylvania, if she survives me. 3. UNIFIED CREDIT TRUST. I give, devise and bequeath to my Trustee hereinafter named, IN TRUST NEVERTHELESS, to be held, administered and disposed of in accordance with this ITEM for the benefit of My Spouse and my issue (herein referred to as the "Unified Credit Trust") an amount equal to the sum of the Page 2 of 16 Pages balance of the dollar amount not taxed in my estate due to the application to my estate of (i) the applicable credit amount against federal estate tax permitted under Section 2010 of the Internal Revenue Code of 1986, as amended, or any subsequent successor or parallel provision thereto (the "Applicable Credit Amount"), after deducting therefrom the value, for federal estate tax purposes, of (a) assets included in my federal gross estate which pass or have passed other than under the terms of this Will and which will utilize a portion of the Applicable Credit Amount, (b) any bequests under the preceding ITEMS of this Will which will utilize a portion of the Applicable Credit Amount and (c) adjusted taxable gifts not included in my federal gross estate but included in the computation of the tentative federal estate tax in my estate; and (ii) the state death tax credit or deduction allowed for federal estate tax purposes (but only to the extent its use will not increase any Death Taxes, other than Pennsylvania Inheritance or Pennsylvania Estate Taxes, owing by my estate). My Trustee shall have, hold, manage, invest and reinvest the assets of the Unified Credit Trust, collect the income and (a) If My Spouse survives me, beginning at my death, my Trustee shall pay over the net income of the Unified Credit Trust to My Spouse during My Spouse's lifetime, in installments not less frequently than quarterly. In addition, my Trustee shall pay to My Spouse such amounts of the principal of such trust as, in the sole discretion of my Trustee, shall be necessary for the maintenance, support and medical and nursing care of My Spouse, taking into consideration any other means readily available for such purposes. Page 3 of 16 Pages (b) Upon the death of the survivor of My Spouse and me, my Trustee shall distribute the principal and any undistributed income of the Unified Credit Trust to my issue then living, per stirpes; provided, however, that if any such issue has not then attained the age of thirty-five years, such issue's share shall be retained by my Trustee, IN TRUST NEVERTHELESS, to be held, administered and disposed of as a separate trust estate in accordance with ITEM 6 for the benefit of such issue (the "Retention Trust"). 4. REAL ESTATE. If My Spouse dies before me, I give and devise all of my right, title and interest in real estate and improvements situate in North Middleton Township, Cumberland County, Pennsylvania, known and numbered as 871 and 861 Crains Gap Road (comprising approximately 88 acres) and 126 Sheaffer Road (comprising approximately 70 acres), to my children living at my death, as equal tenant in common owners. 5. RESIDUE. I give, devise and bequeath all of the rest, residue and remainder of my property, real, personal and mixed, not disposed of in the preceding portions of this Will, including all property over which I hold a power of appointment (which powers of appointment I hereby exercise in favor of my estate), to My Spouse, if My Spouse survives me. If My Spouse does not survive me, I give my said residuary estate to my issue living at my death, per stirpes; provided, however, that should any such issue shall not then have attained the age of thirty-five years, each such issue's share shall be distributed to my Trustee hereinafter named, IN TRUST NEVERTHELESS, to be held, administered Page 4 of 16 Pages and disposed of as a separate trust estate in accordance with ITEM 6 for the benefit of such issue (the "Retention Trust"). 6. RETENTION TRUST. My Trustee shall have, hold, manage, invest and reinvest the assets of the Retention Trust, collect the income and (a) Until the beneficiary of the Retention Trust (the "Beneficiary") shall have attained the age of twenty-one years, my Trustee shall from time to time pay to or for the benefit of the Beneficiary such amounts of the net income and principal of the Retention Trust as, in the sole discretion of my Trustee, shall be necessary for the Beneficiary's maintenance, support, medical and nursing care and education, including college and graduate education, taking into consideration any other means readily available for such purposes. At the end of each year any unexpended income shall be added to the principal of the Retention Trust. (b) After the Beneficiary shall have attained the age of twenty-one years, my Trustee shall thereafter pay to the Beneficiary the net income derived from the Retention Trust in installments not less frequently than quarterly and such amounts of the principal as, in the sole discretion of my Trustee, shall be necessary for the Beneficiary's maintenance, support, medical and nursing care and education, including college and graduate education, taking into consideration any other means readily available for such purposes. (c) If at the time of the creation of the Retention Trust the Beneficiary shall have then attained the age of thirty-five years, or if the Beneficiary shall thereafter attain that age, the Trustee shall distribute outright to the Beneficiary the then remaining principal and any accumulated income of the Retention Trust. (d) If the Beneficiary should die before attaining the age of thirty-five years, the then remaining principal and any undistributed income of the Retention Trust shall be distributed to the Beneficiary's issue then living, per stirpes, or if the Beneficiary has no issue then living, then to the issue then living of the Page 5 of 16 Pages parent of the Beneficiary who was an issue of mine, per stirpes, or, if such parent shall have no issue then living, to my issue then living, per stirpes; provided, however, in any event, if any such beneficiary is then a beneficiary of a Retention Trust hereunder, the share of such beneficiary shall be added to the principal of such Retention Trust, as if an integral part thereof, to be held, administered and disposed of in accordance with the terms thereof. 7. PERPETUITIES PROVISIONS. Nothing herein is intended to, nor shall it be construed to, postpone the vesting of any part of the assets of any separate trust estate hereunder for more than twenty-one years after the death of the survivor of me, My Spouse and my issue living at the time of my death. At the expiration of such period the assets of all the separate trust estates hereunder shall immediately vest in fee simple absolute in and be distributed outright to the person or persons then entitled to receive the income therefrom, whether in my Trustee's discretion or otherwise. 8. SPENDTHRIFT PROVISION. No interest in income or principal of my estate or any trust created hereunder shall be subject to attachment, levy or seizure by any creditor, spouse, assignee or trustee or receiver in bankruptcy of any beneficiary of my estate or of any trust created hereunder prior to the beneficiary's actual receipt thereof. My Executor or Trustee shall pay over the net income and the principal to the beneficiaries herein designated, as their interests may appear, without regard to any attempted anticipation (except as may be Page 6 of 16 Pages specifically provided herein), pledging or assignment by any beneficiary of my estate or of any trust created hereunder and without regard to any claim thereto or attempted levy, attachment, seizure or other process against said beneficiary. 9. SURVIVAL PRESUMPTIONS. Any person who shall have died at the same time as I or under such circumstances that it is difficult or impossible to determine who shall have died first, shall be deemed to have predeceased me. Any person other than me who shall have died at the same time as any then beneficiary of income of my estate or a trust created hereunder or under such circumstances that it is difficult or impossible to determine who shall have died first, shall be deemed to have predeceased such beneficiary. 10. FIDUCIARY POWERS. In the settlement of my estate and during the continuance of any trust created hereunder, my Executor and my Trustee shall possess, among others, the following powers, exercisable without prior court approval, but in all cases to be exercised for the best interests of the beneficiaries (subject to the limitations of ITEM 16 hereof): (a) To retain any investments I may have at my death so long as my Executor or Trustee may deem it advisable to my estate or trust so to do, including securities owned, issued or underwritten by any corporate Executor or Trustee or any of their affiliates. (b) To vary investments, when deemed desirable by the Trustee, and to invest in every kind of property and type of investment, including securities owned, issued Page 7 of 16 Pages or underwritten by any corporate Trustee or any of its affiliates, or as to which such Trustee or its affiliate acts as investment advisor, as the Trustee shall deem wise. (c) In order to effect a division of the principal of my estate or trust or for any other purpose, including any final distribution of my estate or trust, my Executor or Trustee is authorized to make said divisions or distributions of the personalty and realty partly or wholly in kind. If such division or distribution is made in kind, said assets shall be divided or distributed at their respective values on the date or dates of their division or distribution. In making any division or distribution in kind, my Executor or Trustee shall divide or distribute said assets in a manner which will fairly allocate any unrealized appreciation among the beneficiaries. (d) To sell either at public or private sale and upon such terms and conditions as my Executor or Trustee may deem advantageous to my estate or trust, any or all real or personal estate or interest therein owned by my estate or trust severally or in conjunction with other persons or acquired after my death by my Executor or Trustee, and to consummate said sale or sales by sufficient deeds or other instruments to the purchaser or purchasers, conveying a fee simple title, free and clear of all trust and without obligation or liability of the purchaser or purchasers to see to the application of the purchase money or to make inquiry into the validity of said sale or sales; also, to make, execute, acknowledge and deliver any and all deeds, assignments, options or other writings which may be necessary or desirable in carrying out any of the powers conferred upon my Executor or Trustee in this paragraph or elsewhere in this Will. (e) To mortgage real estate and to make leases of real estate for any term. (f) To borrow money from any party, including my Executor or Trustee, to pay indebtedness of mine or of my estate or trust, expenses of administration, Death Taxes or other taxes. (g) To pay all costs, expenses, legally enforceable debts, funeral expenses and charges in Page 8 of 16 Pages connection with the administration of my estate or trust. (h) To vote any shares of stock which form a part of my estate or trust and to otherwise exercise all the powers incident to the ownership of such stock and to actively manage and operate any incorporated or unincorporated business, including any joint ventures and partnerships, and to incorporate any such unincorporated business, with all the rights and powers of any owner thereof. (i) In the discretion of my Executor or Trustee, to unite with other owners of similar property in carrying out any plans for the reorganization of any corporation or company whose securities form a part of my estate or trust. (j) To assign to and hold in my estate or trust an undivided portion of any asset. (k) To hold investments in the name of a nominee. (1) To compromise controversies. (m) To disclaim, in whole or in part, any and all interests in property owned by me at the time of my death, including those passing to me by Will, intestacy, contract, joint ownership, operation of law or otherwise. (n) To divide any trust hereunder into two or more separate, but identical, trusts. To divide any trust hereunder which would have a generation skipping transfer tax inclusion ratio other than one (1) or zero (0), into two (2) separate trusts which are fractional shares, known as the "exempt trust" and the "nonexempt trust". The exempt trust is that fractional share of the total trust fund that has a generation skipping transfer tax inclusion ratio of zero (0), and the nonexempt trust is the remaining fractional share of the trust, with a generation skipping transfer tax inclusion ratio of one (1) . The terms and conditions of the nonexempt trust and the exempt trust will be identical. Any reference to a trust created under this Will, without a further specification or limitation, shall be deemed to refer to both the exempt trust and the nonexempt trust, in proportionate amounts, where Page 9 of 16 Pages relevant. The assets of each separate exempt and nonexempt trust shall be held, administered and invested as separate trusts, and my Trustee shall maintain adequate accounting and records for both such trusts. My Executor shall indicate on the federal estate tax return filed for my estate that separate trusts will be created (or funded) and clearly set forth the manner in which the trust is to be severed and the separate trusts funded. (o) To designate one or more persons or a corporation to act as ancillary fiduciary in any jurisdiction in which ancillary administration may be necessary, such ancillary fiduciary to serve without bond or security and to have all powers, authorities and discretions conferred hereunder. (p To employ and compensate from income or principal, in the discretion of my Executor or Trustee, investment and legal counsel, accountants, brokers and other specialists, and, whenever there shall be no corporate Executor or Trustee in office, a corporate custodian, and to delegate to investment counsel discretion with respect to the investment and reinvestment of any or all of the assets held hereunder. (q) To manage and develop all or any part of any real property that may be owned by my estate or any trust, including but not limited to, the power to subdivide (including the dedication of parks, easements or streets, with or without consideration); to obtain the vacation of a plat or adjust boundaries; to submit property to a condominium project and do all acts necessary in connection therewith; to grant options to purchase or to lease; to construct buildings or to alter or remove buildings, and make such improvements to real property as my Executor or Trustee determines to be appropriate (including improvements not situated directly on the particular real property); to grant easements or encumbrances of any kind, and to release any interest in the property; and to abandon or demolish any property including an interest in real property deemed by my Executor or Trustee to be worthless or of insufficient value to keep or protect. 11. EXCULPATORY CLAUSES. In the settlement of my estate: Page 10 of 16 Pages (a) My Executor shall not be personally liable for any loss to my estate or to any beneficiary of my estate resulting from an election made in good faith to claim a deduction as an income tax deduction or as an estate tax deduction. (b) In valuing property in my gross estate for the purposes of any Death Tax, my Executor shall not be personally liable for any loss to my estate or to any beneficiary of my estate resulting from my Executor's decision made in good faith to use a particular valuation date. 12. TAX CLAUSE. All inheritance, estate and similar taxes becoming due by reason of my death, except any taxes relating to generation skipping transfers imposed under Chapter 13 of Subtitle B of the Internal Revenue Code, as amended ("Death Taxes"), whether such Death Taxes shall be payable by my estate or by any recipient of any property, shall be paid by my Executor first out of the property passing under ITEM 3 of this Will and then out of the property passing under ITEM 5, in either case, as an expense and cost of administration of my estate; provided, however, that if any property held in any testamentary or inter vivos trust created by My Spouse is includable in my estate for purposes of any Death Tax, then any Death Tax attributable to the inclusion of any such property in my estate for the purposes of that Death Tax shall be paid out of such property or by the recipients of such property; and, if such Death Taxes are nevertheless paid by my Executor, I direct my Executor to obtain reimbursement or contribution for any such taxes paid by my Executor. Except to the extent above provided, my Executor shall Page 11 of 16 Pages have no duty or obligation to obtain reimbursement for any Death Taxes paid by my Executor, even though paid with respect to proceeds of insurance or other property not passing under this Will. 13. CUSTODIAN OF ESTATES. If at any time any individual under the age of twenty-one shall be entitled to receive any assets free of trust by reason of my death, whether payable hereunder, by operation of law, contract or otherwise, I appoint my Trustee hereinafter named as Custodian for such individual under the Pennsylvania Uniform Transfers to Minors Act. 14. TRUST TERMINATIONS. (a) If there should be established by My Spouse, either by Last Will and Testament or by inter vivos Deed or Agreement, trusts similar to the trusts herein established for the benefit of my issue, my Trustee shall have the right and power to merge trusts herein established with similar trusts for the same beneficiaries established by My Spouse and to operate each of the merged trusts as a single trust. (b) If, in the opinion of my Trustee, at any time any trust hereunder is or becomes too small to justify its maintenance as a separate trust, my Trustee, in my Trustee's sole discretion and without the necessity of court approval, shall terminate such trust by distributing all the income and principal of the trust to the then income beneficiary of said trust. If any additions to any such trust are received after its termination under this ITEM, such trust shall be revived and this provision shall continue to apply to it. 15. EXECUTOR POWERS REGARDING BASIS ADJUSTMENT. I hereby authorize my Executor in my Executor's sole and absolute discretion to allocate any adjustments to the income tax basis of Page 12 of 16 Pages assets of my estate to such assets as my Executor deems to be appropriate. I recognize that this power gives my Executor broad latitude which I wish my Executor to exercise while taking into account such factors as my Executor deems beneficial to all of the beneficiaries of my estate. My Executor shall not be liable for any loss to my estate or to any beneficiary of my estate resulting from such allocation made in good faith. 16. KEEN TRANSPORT COMPANY. (a) I anticipate that my interest in Keen Transport Company or a successor business organization may be held hereunder. I intend that my fiduciaries shall have complete freedom to deal with such interest as they deed most advantageous for my estate and the trusts hereunder, subject to any limitations I may have accepted or contracted for during my lifetime. To this end, I recognize that exercise of the discretionary powers conferred on my fiduciaries by other provisions of this Will may involve an unusual degree of delegation of discretion, that one or more of the fiduciaries may frequently be dealing with the trust as an employee, agent, creditor or purchaser of the business and that it may be desirable to retain the interest or invest additional assets therein even though this involves a larger degree of risk or less diversification than is customary for fiduciary investment and I authorize all such actions to be taken without approval of any court or other persons. (b) So long as my shares of stock in Keen Transport Company or a successor business organization are an asset of my Estate or any Trusts hereunder, My Spouse shall have the sole and absolute authority to vote such shares until My Spouse's death or incapacitation, at which time, my children, living from time to time, by majority vote, shall be authorized to vote such shares. I direct my Executor and Trustee to comply with My Spouse's or my children's directives with regard to such voting. Page 13 of 16 Pages 17. EXECUTOR APPOINTMENT. I hereby appoint My Spouse, HAROLD M. KEEN, as Executor of this Will. If for any reason My Spouse should fail or cease to act, I appoint my children, ELIZABETH A. KEEN, JESSE H. KEEN and WILLIAM R. KEEN, as Co- Executors. If for any reason any of them should fail or cease to act, the other(s) shall act or continue to act with all of the powers granted to the three of them. All references in this Will to my "Executor" shall refer to my originally named Executor, to my successor Co-Executors or to my sole successor Executor or Executrix, as the case may be. 18. TRUSTEE APPOINTMENT. I hereby appoint My Spouse, HAROLD M. KEEN, and my son, WILLIAM R. KEEN, as Co-Trustees of any trust created hereunder. If for any reason either of them should fail or cease to act, I appoint my son, JESSE H. KEEN, as the first alternate, and my daughter, ELIZABETH A. KEEN, as the second alternate Co-Trustee. So long as a Trustee or the issue of such Trustee is a beneficiary o~ any trust hereunder, such Trustee shall not (i) participate in any discretionary determination of the Trustee to distribute principal or income of such trust to or for the benefit of such beneficiary or to his or her issue; or (ii) participate in any discretionary determination of the Trustee to terminate said trust under the ITEM hereof entitled "TRUST MERGERS AND TERMINATIONS". An individual Trustee shall be deemed to have failed to serve as Trustee hereunder if, among other Page 14 of 16 Pages reasons, the treating physician of said individual Trustee shall certify in writing that such Trustee possesses permanent mental or physical incapacities which preclude such Trustee from discharging his or her duties as Trustee hereunder. If there is ever only one Trustee serving hereunder and no successor is herein named, such sole Trustee may, by written notice directed to the life tenant and the Trust, designate his or her successor(s) or Co-Trustee(s) to serve with him or her, any such designation to be effective without court approval. Any Trustee serving hereunder shall have the right to resign from such office at any time, with or without cause and without Court approval. No successor Trustee shall be liable for the actions of a resigning or removed Trustee occurring prior to such successor Trustee taking office. All references in this Will to my "Trustee" shall refer to my originally named Co- Trustees or to my sole successor Trustee, as the case may be. 19. WAIVER OF BOND; FIDUCIARY FEES. My Custodian, Executor and Trustee shall qualify and serve without the duty or obligation of filing any bond or other security. IN WITNESS WHEREOF, I have set my hand and seal to this, my Last Will and Testament, consisting of this and the preceding Page 15 of 16 Pages ~,~',~.~z~_ ~( f'~..z_~.~ (SEAL) Alberta H. Keen We, the undersigned, hereby certify that the foregoing Will was signed, sealed, published and declared by the above-named Testatrix as and for 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 me~z~ the said Testatrix was of sound and disposing ----(~ ~j/~-(SEAL)R/~signg at:~_~,?G~~ ,~, ,~., (SEAL) Res±d~ng a~:/.~ ~,~,.~. $ Page 16 of 16 Pages COMMONWEALTH OF~ PENNSYLVANIA : · SS: COUNTY OF : We, ALBERTA H. KEEN, ,:~f l(~ A .L~a4.;~ and ~)!/? ~ ~-~-~ ~k~-dr, the Testatrix and the Witnesses, respectively, whose names are signed to the foregoing instrument, having been sworn, do hereby declare to the undersigned officer that the Testatrix, in the presence of the Witnesses, signed said instrument as her Last Will and Testament, that she signed voluntarily, that each of the witnesses, in the presence of the Testatrix and of each other, signed said Will as a witness and that to the best of the knowledge of each witness, the Testatrix was at the time of sound mind and under no constraint or undue influence. Witness Subscribed and acknowledged before me by ALBERTA H. KEEN, the Testatrix, and subscribed and sworn to before me by ~l~ ~_ ,~r;['% and ~'~~/~,~ff~VF~_ , the witnesses, Notary Public My Commission Expires: ~~/ (SEAL) NOTARIAL SEAL Dods G. Smith, Notary Public Middlesex TWP, County of Cumber and My Commiss on Expires Mar. 6, 2004 208778.1 NUMBER S. W. BARRETT REAL ESTATE & APPRAISAL SERVICES Fie No. 03-0234 APPRAISAL OF LOCATED AT: 126 Sheaffer Road Carlisle, PA 17013 FOR: Rhoeds & Sinon LLP, S. A. Smith Esq P.O. Box 1146, 1 S. Market Sq. Harrisburg, PA 17108-1146 BORROWF,~: KEEN, ~.. AS OF: '. . March 19, 2003 BY: Cassandra J. Crockett Certified Residential Appraiser 124-12~6 NORTH HANOVER STREET, CARLISLE, PA 17013 717-243-6646 AND FAX 717-243-6627 S. W. BARRETT REAL ESTATE & APPRAISAL SERVICES Fie No. 03-0234 0513012003 Rhoads & Sinon LLP, S. A. Smith Esq P.O. Box 1146, 1 S. Market Sq. Harrisburg, PA 17108-1146 File Number: 03-0234 In accordance with your request, I have personally inspected and appraised the real property at: 126 Sheaffer Road Carlisle, PA 17013 The purpose of this appraisal is to estimate the market value of the subject property, as improved. The property rights appraised are the fee simple interest in the site and improvements.. In my opinion, the estimated market value of the property as of March 19, 2003 is: $450,000 Four Hundred Fifty Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final estimate of value, descriptive photographs, limiting conditions and appropriate certifications. Respectfully submitted, Cassandra J. Crockett" Certified Residential Appraiser 124-126 NORTH HANOVER STREET, CARLISLE, PA 17013 717-243-6646 AND FAX 717-243-8627 SUMMARY APPRAISAL REPORT UNIFORM RESIDENTIAL APPRAISAL REPORT F,e No. 03-0234 'Address 126 Sheaffer Road city Carlisle State PA 7_~ocude 17013 Deed Book 34-P 775 County Cumberland Assessor's Parcel No. 29-05-0429-002 Tax Year 02/03 I~E. Taxes $ 3~653.00 Special Assessments $ N/A Borrower KEEN Cuffent Owner Keen A.H. Occupant: [] Owner [] Tenant ~] Vacant PUD [] Condominium (HUD/VA only) HOA$ N/A /Mo hborhood Name North Middleton Township Map Reference 05-0429 C~nsus Tract 0119.00 Sale Price $ NIA Date of Sale N/A Description and $ amount of loan charges/concessions to be paid by solar NIA Lender/Client Rhoads & Sinon LLPr S. A. Smith Esq Address P.O. Box 1146r 1 S. Market Sq.r Harrisburg~ PA 17108-1146 Cassandra J. Crockett Address 126 North Hanover Street PA 17013 [] Urban [] Suburban [] Rural Predominant Single family housing Presentland use % Land use change Bult up r'-] 0v. 75% ~'] 25.75% F'] Und. 25% °ccupancy PRICE AGE Onefamily ['-'] Not likely [-~ Likely $ (ooo) (~) __ Growth rate[_._~ [~Rapid [] Stable Slow [] Owner 95 Low New 2-4 famly 0% [] In process Property values Increasing Stable Declining Tenant Multi-fan'ay __ To: Residential Demand/supply Shortage In balan~ Over super Vacarl (0-8%) Predominanl Cornrnemial 5% Under 3 mo& Over 6 mos. 165 25 Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries and characteristics: Subject is bounded on the north by Perry county line/mountains; east by Rt.34; South by Carlisle Borou, and west Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, otc.): is In an area of sin homes and farms between Carlisle and the Perry county line/mountains. Shopping and other amenities are within a short driving distance. School system is Carlisle District and students are bused. SMSA 42-3240. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time -- such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.): ' values are currently stable with an average marketing time of 80-100 days. Economic trends and lendinq rates have remained favorable. Sales concessions occur infrequently. There are new homes under construction in surrounding as well as resales available in the hborhood. Project Information for PUD,. (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? [] YES [] NO Ap~-oximate total number of units in the subject project NIA Approximate total number of units for sale in the subject project N/A Describe common elements and recreational facilities: N/A See legal description/tax map Topography Rolling area 70 Acres MIL Comer Lot [] Yes [] No Size Larger than normal Specific zoning classification and description Agricultural Shape Irregular Zoning compliance [] Legal Legalnonmnfonn~(GrandPatheredusa) [--]Illegal [] Nozoning Drainage Appears adequate hast & best Present use [] Other use (explain) View Open country Utilities Public Other Off-site Improvements Type Public Private Landscaping Typical Eledricity [] 200 amp Street Asphalt [] [] Driveway Surface Asphalt Gas [] Propane Curb/gutter None [] [] Apparent easements None Apparent Water [] Well Sidewalk None [] [] FNMA Special Flood Hazard Area [] Yes [] No Sanita~ sewer [] Septic Street lights None [] [] FNMA Zone C Map Date 4/1/82 Storm sewer [] Nley None [] [] FNMA Map No. 420367A Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): Well/Septic common for area and have no adverse affect on marketability. There are no adverse easements~ encroachments or other adverse conditions. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Units One Foundation PouredConc Slab None Area Sq. Ft. 560 Roof [] No. of Stories 1.5 Exterior Walls Frame/Vinyl Cra~e~ Partial % Finished 0% Ceiling __ Type (Det./Att.) Detached Roof Surface MetallShngl Basement Partial Ceiling Unfinished Walls [] Design (Slyle) 1.5 Story Gutters & Dwnspts. Aluminum Sump Pump Floor Drain Walls Concrete Root Existing/Proposed Existing Window Type DoubleHung Dampness None Obsrvd. Roor Concrete None __. [] Age(Yrs.) 100 Yrs+l- Storm/Screens Thermal Settlement None Obsrvd. Outside Entry Yes * unlu~wn ~.~ Effective Age 0tm.) 14-16 I Manufactured House No Infestation None Obsrvd. * Exposed Bsm,t ROOMS I Foyert, Living I Dining Kitchen Bedroorns I # Baths Laund~ Other Area Sql t. ,~ 1 ~564 S( .t.?,.~ I?,--~.o.!~!,?.~.r_o~L~vln~/Area ~ ~ "'"~.,3dition HEATING I KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE~ '::'A;{ny..! Type FH~ Refrigerator ~j None [] Fi'e~,.~c~s)E ~ NGhe [] ........... -' "'" [] Stai,, [] Patio [] Trim/Finish Wood ConditionAvg Disposal [] Drop Stai' [] Deck Wood [] Attached Bath Floor Vinyl/Carpet COOLING I Dishwasher [] Scuttle [] Porch 8 X 26 [] Detached 2 Bath Wainscot DrywalllFbrgls Central Yes J Fan/Hood [] Floor [] Fence [] Built-In Doors 6 Panel Moulded Other None Microwave [] Heated [] Pool [] Carport Condition CondilionGood Washer/Dryer ~--] Finished [] Hearth/Flue [~] Driveway 4/Pvd Additional features (special energy efficient items, etc.): See Attached... Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction.remodeling/additions, etc.: Improve merits are in ~yerage-good condition with no physical or functional inadequacies apparent. Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of the subject property: No adverse environmental conditions are apparent/disclosed. ~-~3 PAGE 1 OF 2 ~an~e ~a~ ~m ~ ~-S~ ADDENDUM Borrower: KEEN~ Betsy File No.: 03-0234 Property Address: 126 Sheaffer Road Case No.: City: Carlisle State: PA Zip: 17013 Lender: Rhoads & Sinon LLP, S. A. Smith Esq Additional Features *Eve storage; ceiling fans; hearth/flue, wood stove; 16 x 26 addition with vaulted ceilings recently added; home has been renovated/up-dated; metal pole building with water, electric, .5 bath, and 2nd floor storage in good condiiton; workshop in block garage in average condition. Addendum Page 1 of 1 SUMMARY APPRAISAL REPORT Valuation section UNIFORM RESIDENTIAL APPRAISAL REPORT F,oNo. 03-0234 ESTIMATED SITE VALUE ........................... = $ Comments on Cost Approach (such as, source of cost estimate. ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: site value, square foot calculation and for HUD, VA and FmHA, the Dwelling . Sq. Ft. Q $ = $ 0 estimated remaining economic life of the property): Sq. Ft. @ $__ = 0 Cost new from Marshall Swift Valuation Service = Handbook and local cost analysis. Land value from Garage/Ca'l~ ~ Sq. Ft. @ $.__ = 0 ~ Market Data Comparison. Depreciation based on Total Estimated Cost New ................ = $ 0 observed condition and Market Data Analysis. Cost Less Physical I Functional [ External Est. Remaining Econ. Lifo: -14 Approach ineffective due to age of improvements. Depreciation I I = $ 0 Estimated Remaining Economic Life is 40-45 years. Depreciated Value of Improvements ................... = $ 0 'As-is' Value of Site Improvements ................... = $ INDICATED VALUE BY COST APPROACH ........... = $ ITEM I SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 126 Sheaffer Road 4033 Enola Road 3242 Enola Road 100 Carlisle Road Address N.Middleton-Carlisle U.Frankford-Newville L. Frankford-Carlisle W.Pennsboro-Newville 10.01 MI W 7.76 MI W 12.35 MI WSW Sales Price $ 318 $ 435. $ 369 PriceA3ro~ ~. ~ 0.00 $ 122.31 187.42 165.73 Z Data and/or Inspection Verification Sources DeedlCHR MLSlCourthouse Records MLS/Courthouse Records MLSlCourthouse Records VALUE N:llUS'rMENTS DESCRIPTION DESCRIPTION DESCRIPTION DESCRIPTION Sales or Financing None, Conv ', None, Conv ', None, Conv ', Concessions Dom 36 i Dom 203 i Dom 18 Date of Sale/Time 6~02 : 2/03 ', 11/02 ' Suburban ' Location Suburban Suburban ', Suburban I ' Site 70 Acres+l- 19 Acres+l- ' 33.6 Acres+l- 146 57.50 Acres+l- $0 ' Resid/Cntrysd ' ResidlCntrysd View Resid/Cntrysd ResidlCntrysd I I 0f~ n 100 Yrs+l- 100 Yrs+l- ', 41 Yrs 82 Yrs Condition ' ' ' Above Grade BaUls BaUII ~ Baths Room Count 3C 4: 2.00 61 3: 2.50 ', -1,000 4', 3.00 ', -2,000 4: 1.50i 1,000 Basem~&Feished Partial Bsmt/ Partial Bsmt/ ', Partial Bsmt/ Partial Bsmt/ ', Rooms Below Grade Unfinished Unfinished '~ Finished Unfinished OFHAJCA OFHAJNone OHW/CA OHWINone , Eflcient items)ical ~ical ', ~ical )ical 2 Car Garage 3 Car Gar 2 Car Garage ,, Porch, Patio, Deck, Porch/Deck/ Patio/FP ', 1,000 Sun Room/ -3,500 PorcheslFP : 0 Hearth/Flue I FP's ,, Pool, etc. MaintJStorBId Outbuildin -20. IG PoollFncg 10 Bank Barn/Shed ', 152 $ 121 $ Adjusted Sales Price ,. $ $ 556 $ 408 Comments on Sat¢'o Compe~; ~;4,cluding the subject property's compatibility to the neighborhood, etc. ): All comparables are similar in location to the subject i~L ~erty, are verified closed salesr and are the best currently available. Surplus 0001acre. Variance In :.ft. due to variance in size of sites. Range of value is $408,000 to $556,000. ITEM SUBJEC~T COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Date, Price and Data Soume for prior sales None None None None Deed/CHR Courthouse Records Courthouse Records Courthouse Records : ?ysis of any current agreement of sale. ~ption, or listin,' '~;f the subject properly and analysis of any pmr sa/es of subjed and co mparables withh one year ofthe date of appraisal:. . ~ [!or sales within three ye~ ~ were ,' ' INt,~lCA'i': i,. ,: -,; .:. ~ . $ 450~000 · ,.=. .................................................... ~ INDICA'i:~.:: , ': ' '"~ ~E API:~.,OA¢,..~_~.~..~ ' :": · / . ~ted Market Rent $' NIA /Mo. x Gross Rent Multiplier N/.~ = $ - N/A ~:This appr~ .~- , .~,~, , . .~ ~ ~...' i,' eiot,~, inspections or co,;dtions li~ted ~elow [] subject to coml3i~ion per plans and spedfications. ~,',~;~,~-"~%';' : ._ : .: :' .: ' :'. ....... ; ....~;;:;,,,. T;,;o a~,pra:aa: ia for client only~ nontransferable. See attached addendum. Final Reconciliation: Market Analysis consistently sUpports my estimated market value. GRM analysis and Cost Approach was found inappropriate for this analysis. Greatest weight is applied to the Market Data Analysis. Supporting file information substantiates these estimates. The purpose of this appraisal is to estimate the market value of the real property that rs the ~ubject of this report, based on the above conditions and the certification, contingent and limiting conditions, and market value definition that are stated in the attached Fredde Mac ~orm 439/Fannis Mae Form 1004B (Revised 6193 ). I (W~) ESTJI~IATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT iS THE SUB,JECT OFTHiS REPORT, AS OF 03/1912003 (WHICHISTHEDATEOFINSPECTIONANDTHEEFFECTIVEDATEOFTHiSREPORT)TOBE$ _460~000 . ~ . APPRAISER:/~ Signature /_."t-~'~ ~ .J' x/'' ~''~'/ SU P~APPRAISER (ONLt IF I~UIRED~ Name Cas~L-itt~'~ J: (~'~k~tt ~-.../ ~ame Steven W. Barrett, SRPA, SRA Inspect Property Date Report Signed 0513012003 D~te Report Signed 0~/30/2003 State Certification # RL-001348-L State PA State Certification # GA-OOO298-L State PA Or State License # State Or State License # RB-026921-A State PA F~e~ ~ F~m ;0 e.93 Certified Residential PAGE 2 OF 2 Certified General Appraiser F~,~, a~, F(xm 1004 6-93 Appraiser Steven W. Barrett R.E. Appr. Svc. FLOORPLAN Borrower: KEENr Betsy File No.: 03-0234 Property Address: 126 Sheaffer Road Case No.: City: Carlisle State: PA Zip: 17013 & Sinon LLP, S. A. Smith Esq 15.0' CLst l' ' -- I I , ~ Kitchen Bedroom D~g Room 2nd FIo~ I t 150' 260' P=cn Comments: Scale I = 12 AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code DeScription Size Totals Breakdown Subtotals O~-&l Flrs~ Floor ,- ':1144.00 F£rst Floor second floor 420.00 1564.00 26.0 x 44.0 1144.00 P/P Porch 208.00 second t'loor -'~' I'~ od Deck 150.00 358.00 15.0 x 28.0 420.00 TOTAL LIVABLE (rounded) 1564 2 Areas Total (rounded) 1~564 I I Borrbwer: KEEN, Betsy File No.: 03-0234 Property Address: 126 Sheaffer Road Case No.: I City: Carlisle State: PA Zip: 17013 Lender: Rhoads & Sinon LLP~ S. A. Smith Esq FRONT VIEW OF SUBJECT PROPERTY Appraised Date: March 19, 2003 REAR VIEW OF SUBJECT PROPERTY STREETSCENE Borrower: KEEN~ Betsy File No.: 03-0234 Property Address: 126 Sheaffer Road Case No.: City: Carlisle State: PA Zip: 17013 Lender: Rhoads & Sinon LLP~ S. A. Smith Esq LOCATION MAP Borrower: KEEN, Betsy File No.: 03-0234 Property Address: 126 Sheaffer Road . Case No.: City: Carlisle State: PA Zip: 17013 Lender: Rhoads & Sinon LLP~ S. A. Smith EsR k4OUNT OLD . ~. ~ ,~'~- . IdAP (C) 1984-1! Courtesy of: Barre~ Real Estate & Appraisal 717-243-6646 I H) Address Date '_Price ELV[ BE Bath Stt~'t Prox~tit~ S 126 SHAKFFKR Lq/A tl/A '7 4 2 1564 0.00 t4Z SM 1 ,~033 EHOF.,A RD 6/02 319000 6 3 2.5 2600 10.01 ~ W 2 3242 ~OF.,A RD 2/03 435000 9 4 3 2321 '7 ."/6 NZ 3 100 CART.,I BLE AV 11/02 369900 '7 4 1.5 2232 12.35 124-126 NORTH HANOVER STREET, CARLISLE, PA 17013 717-243-6646 AND FAX 717-243-8627 88 File No. 03-0234 ********* QUALIFICATIONS ********* The following checked items are SPECIFIC SPECIAL CONDITIONS that were identified by this appraiser during the inspection of the subject property, the comparables sales, and their neighborhoods and locations. Unless otherwise noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home inspection service. This is an appraisal to estimate market value. 1. The subject is located in a rural area and is less than 25% built-up. x 2. Commercial/Industrial uses are located within'the subject's neighborhood. These uses are typical of similar neighborhoods. x 3. Vacant and undeveloped land uses are located within the subject's neighborhood. These uses are typical for the area. x 4. The predominant value in the neighborhood is less than that of the market value of the subject property. This is due to the very wide range of value of properties in the area and superior quality of the subject property. __5. The subject property is located in a F.E.M.A. Identified Flood Zone. Flood insurance coverage is required and suggested. 6. Dampness is noted in the basement of the subject. Standing or running water was not present on basement floor. This condition is considered typical in dwellings of this style. x 7. The subject property is serviced by private well and/or septic Systems which is common for the area. _x__8. The subject is older than five(5) years. All mechanical systems including the heating, electrical and plumbing systems appear upon a visual exterior inspection to be in working order. No warranties are implied in this statement. 9. Repair items were noted in the comments section of the report. These comments on repair items are for descriptive purposes only and are not required repairs. The items listed are cosmetic in nature. 10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a health or safety hazard. 11. The subject property does contain functional obsolescence as noted in the report. This condition is considered typical and common for the area and this style dwelling. 12. The land value exceeds 30% of total value due to the high demand for vacant land in this neighborhood. This condition is considered common and typical for the neighborhood. _x_13. The land value exceeds 30% of total value. This is due to the large size of the site. This condition is considered to be typical and common. _x_14. Individual adjustments were required that exceed 15%. These adjustments were required due tq lack of more similar comparables on that individual rating. All comparables used are the best available. _x_15. Total adjustments exceed 25%. This is due to the lack of comparable sales that were more similar in the subject's market area. All comparables used are the best available. _x_16. One or more comparable sales are older than six(6) months. Although there are comparable properties in the subject's area, none have sold recently; therefore, sales in excess of six(6) months have to be used. All comparables used are the best available. _x_17. One or more comparables us~<; ~,'c;, in excess of one (1) mil~. ,, *~ject property. Althou.c~ ~,h~re are comparable properties in the immedi;'~¢ ~. '.. ~.. :~¢ have sold recently. Ti~,i.- ~,'.;~. n. cc;,s.-ary to uso sales outside of ~.h~ i!~mediate area. All coi,~.,~:~,; ,.'~, ~ [~ced are located in ~'il: ~..-~'- and within the same marketing area. All cor'nparables used are the be.,t ,~.~cil:-..b[~. .,' 18. The electrical system was not connected during inspc,;[ion._ · ...~" 19. The water service was not connected during inspection. 20. The heating system was shut down during inspection. 21. Roofing Plumbing Electrical Heating. certification(s) is/are suggested. _x_22. Inground swimming pool , out buildings, x are included~x~,not included according to lender's guidelines. 23. According to lender's guidelines a maximum of acres were considered for this valuation. Remaining acreage was given no value. File No. 03-0234 ********* QUALIFICATIONS ********* 24. The subject property is located on a private road. 25. Wood infestation inspection is suggested. _x_26. Last recorded deed transfer: Date 6/13190t, Consideration: $220,000 27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like manner. 28. Seller is paying part or all of closing costs. _x_29. All comparable sales are verified closed sales. _x_30. There are no special conditions or other requirements that would affect market value or future marketability in the Appraisal Report. CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. Fie No. 03-0234 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the Appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they ara so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidd?rl or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. '- "': 8. The appraiser will not disclose the contonts ,',. d',e appraisal report exc~f,', ~.~. :,,~,:..~.~ fo! in the Uniform Sta~da~ ......~ r~c,, ? ... ~{~.~ Appraisal Practice. 9- The aD,raiser, has based his or her appraisal report and valuation conclusion for an aDprais::.' th,~* i.~ ,~ubiect te ,~ ~f=..~ ,r.,,' ,~ ,', ~,~.',~ repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal repprt can ~distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designatiohs, and leferences to any professional appraisal organizations or the firm with which the appraiser is associated ) to anyone other than the I~orrower; the mortgagee or its successors and assigns; the mortgage insurer' consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the DistriCt of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporIlng service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Form 1004B 6-93 Fie No. 03-0234 APPRAISERS CERTIFICATION: The Appraiser carries and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an' impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and CO~Tect. 3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's cartific~,!; !i~ i,,*mbered 4 through 7 above, ai,C; ~.~.:: *~' ~- full responsibility for the appraisal and the appraisal report. ~ .~=~ .~ ~ * ',~ ~"RES$ OF PROPER~APP~ISED: 126 Sheaffer Ro~d, Cerlis~e~ PA 17013 APP~ISER: SUPERVISORY APP~ISER (only if required) Signature: /~>./. f~:.~ ~ ~ ~J~'~.. Signature: ~ . Name: Cassandra J. Crockeff /~ Name: Steven W. Barreff, SRPA, S~ Date Signed: 0513012003 Date Signed: 0513012003 StateCe~tion~: RL~O13~-L StateCe~ifi~tion~: GA~OO298-L ~ State Li~nse ~: or State Li~nse ~: RB~26921-A State: PA State: PA ~piration Date of Ce~tion ~ Li~nse: June 30, 2003 ~piration Date of Ce~tion m Li~nsa: June 30, 2003 ~ Did ~ Did Not lnspe~ Pro~ Ce~ifi~ Residential Appraiser Ce~ifi~ General Appraiser Freddie Mac From 439 6-93 Page 2 of 2 Fannie Mae Form 1004B 6-93 NUMBER ESTATE OF ALBERTA H. KEEN SSN: 194-20-3991 DOD: 10/3/2003 PENNSYLVANIA INHERITANCE TAX RETURN ITEM 3 HAS BEEN SENT DIRECTLY TO THE DEPARTMENT OF REVENUE 511198.1 NUMBER . ESTATE OF ALBERTA H. KEEN SSN: 194-20-3991 DOD: 10/3/2003 PENNSYLVANIA INHERITANCE TAX RETURN ITEM 4 HAS BEEN SENT DIRECTLY TO THE DEPARTMENT OF REVENUE NUMBER ESTATE OF ALBERTA H. KEEN SSN: 194-20-3991 DOD: 10/3/2003 PENNSYLVANIA INHERITANCE TAX RETURN ITEM 5 HAS BEEN SENT DIRECTLY TO THE DEPARTMENT OF REVENUE NUMIIER MOUNTZ [~]J E W E L E R S Trust Your Special Moments To Mountz. December 12, 2003 Mr. Harold Keen 871 Crains Gap Road Carlisle, PA 17013 Dear Mr. Keen, At your request I examined the jewelry you submitted for valuation and have provided an opinion of the Fair Market Value. This report is valid only in its entirety and the final figure excludes any applicable taxes. You may wish to take this into consideration when using the report. The value conclusions are subject to limiting conditions that are set forth m the body of the report. To the best of my knowledge and experience, I estimate the jewelry has a total Fair Man, et Value of $5,225.00. I suggest that you keep your copy of this report in a safe place. This report was prepared m accordance with the Uniform Standards of Professional Appraisal Practice (US?AP). If I can be of any further assistance, please call. ~incerely, "~ I G~tlu~te Gemolo~si, GIA Enclosures .!~). 153 North Hanover Street · Carlisle, P~/b1~8. 717/243-4936 · FAX 717/243-8785 '~",, ~ RoLEx www.mountzjewelers.com Table of Contents · Letter of Transmittal · Table of Contents · Purpose · Intended Use · Definition of Fair Market Value · Approach to Value · Market · Limiting Conditions · Subscriptions Retained for Value Consulting · Metal Markets Certification · List of Laboratory Instruments · Item Descriptions This report is valid only in its entirety and for its stated purpose and iraended use and was prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP). Statements and Limiting Conditions Purpose The purpose of this report is to describe and document the quality of the jewelry listed and to estimate it's Fair Market Value. Intended Use The intended use of this report is for providing an estate appraisal listing the Fair Market Value for use in the resolution of the Estate of Alberta H. Keen. Definition of Fair Market Value The fair market value is the price at which the property would change hands between a willing buyer and willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts. The fair manket value of a particnlar item of property.., is not to be determined by a forced sale price. Nor is the fair market value of an item of property to be determined by the sale price of the item in a market other than that in which such item is most commonly sold to the'public, taking into account location of the item wherever appropriate. Taken from Treasury Regulation 20.2031-1 (b) Approach to Value There are three traditional approaches to value that are as follows: Income approach: Applies to income producing properties and is used only if an income situation or rental property can be identified. Market Data approach: Compares the qualities of the subject item to an article with similar or identical qualities, and researches and records current verifiable sales of such merchandise. Cost approach: Establishes the total value of an item by considering the value of its component pans (precious metal content, gemstone weight~ and qualities, labor, and any other fees) together with the appropriate retail markup according to the norms of the jewelers in the locale, supply and demand, and the current state of the marketplace. Page 2 of 8 Fair Market Value is estimated using the market da~a_ approach. Neither the income approach nor the cost approach apply in establishing Fair Market Value. However, the cost approach to value was used to check on the reasonableness or market values found. Market To value an item a market (and market level) must be recognized. The most appropriate market for jewelry can vary depending upon the article's age, condition, quality, intrinsic content, aesthetic appeal, provenance, current fashion trends, artistic interpretation, period of manufacture among others. The type of retail outlet that most commonly carries the items being appraised is considered to be the most appropriate market However, the auction market was also considered as another appropriate market in establishing Fair market Value for this type of jewelry. Limiting Conditions The jewelry described within has been analyzed and graded in accordance with prescribed grading standards using "state of the art" methods and precision laboratory equipment~ Jewelry constructed solely of, or in c6mbinatiun with, precious metals (i.e. platinum, palladium, yellow or white gold and/or silver) is tested, analyzed and described for its type and content of such metal. Unless otherwise stated, all gemstone weights, grades and measurements are approximate and stones have not been removed from their mountings. Diamonds are graded with the prescribed grading nomenclature of the Gemological Institute of America (GIA) and the use of pre-graded permanent master diamond color comparison stones. Colored stones are color graded with the use of the GIA Gem Set color grading system. Unless otherwise stated, all colored stones listed on this appraisal report have probably been subjected to various treatments to improve their appearance. Treatments are considered usual and customary practices when properly disclosed and when done without intent to defraud tile consumer. The treatments are mostly stable and do not require special care. When a treatment is detected and considered unusual it will be so noted by this appraiser. Some treatments are reversible and re-treatable. It may be beyond the scope of an appraisal to determine exact treatment methods or the amount of treatment present. Some treatments require sophisticated equipment not found in a standard gemological laboratory. Prevailing market values are based on these universally practiced and accepted processes by the gems and jewelry trade. Sources are assumed to be reliable and the appraiser does not assume responsibility for their information. The appraiser assumes the ownership of the subject property is true as stated by the client. The fees paid for this appraisal do not include the services of the appraiser for any other matter. In particular, fees paid to date do not include any of the appraisers time or services in connection with any statement, testimony or other matters before an insurance company, its agents, employees or any court or other body in connection with the property herein described: If the appraiser is required to testify or to make any statements to a third party concerning the described property and/or appraisal, the applicant ~hall pay the appraiser for all of such time and services so rendered. This document is limited to its stated Intended use and is invalid if all iten~, listed in the Table of Contents are not present. Unless expressly stated, the items appraised are in good condition. Any serious deficiencies and repairs are noted. Ordinary wear and tear is not noted. The information in this report is confidential, Page 3 of 8 This appraisal process does not discover liens, encumbrances, or fractional interests but, if known, they are noted. The limited owner of this appraisal is the party for whom the work was performed. Possession of this report does not provide title to the items appraised. Possession of this report, any portion of this report, or any copy thereof, does not include the right of publication without the appraiser's written consent. Use of the information contained in the appraisal is invalid if all items listed in the Table of Contents are not present. Each item described in this report has been photographed and file copies of the photograph(s) as well as a copy of the report are maintained rathe appraiser's files for at least five years after the report date. Third parties may rely on the information in this report for the defined purpose and imended use only. Third parties requiting ftmher information than what is in the report must obtain the written permission of the owner of the appraisal before the appraiser will discus the report. No changes may be made to this report by anyone other than the appraiser. The appraiser cannot be responsible for unauthorized alterations. The professional relationship between the appraiser and the client ends with the delivery of this report. Subscriptions Retained for Value Consulting Dmcker, Richard - The Guide. Northbrook, IL Rapaport, Martin - Rapaport Diamond Report, New York, NY Metal Market 12/12/2003 Gold $405.20 Silver $5.55 Platinum $806.00 List of Laboratory Instruments Binocular microscope Leveridge gauge Electronic scale Thermal conductivity diamond tester Touchstone and acids Ultraviolet light unit Fiber optic light Electronic metals tester Spectrascope Proportionscope Polariscope Dichroscopc GIA Gem Set color grading system Refractometer Chelsea color filter Heavy liquids Diamond light and graded master comparison diamonds Page 4 of 8 Certification I hereby certify that, to the best of my knowledge and belief: · The slatements of fact contained in this report are true and correct · The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my unbiased professional analysis, opinions, and conclusions. · I have no present or prospective interest in the property that_is the subject of this report and I have no personal interest or bias with respect to the parties involved. · My compensation is not contingent upon the development or repordag of a predelemm~vatue or direction in value that favors the cause of my client, the amount of the value estimate, the attahmtent of a stipulated result, or the occurrence of a subsequent event · I have made a personal inspe~on of the property that is the subject of this report · No one provided significant professional amsmnce to the Ixamn sigrdng this report · My analyses, opinions, and conclusions were developed, and this report has bom prepared, in conformity with the Uniform Standards of Professional Appraiml Practice. GAm3~ S. R~nsch G.G. q~ate C, emologist, GIA 12/I'2/2003 Page 5 of 8 Prepared For: Mr. Harold Keen Date: 12/12/2003 871 Crains Gap Road Carlisle, PA 17013 Item 1 Necklace One lady's 18" cultured pearl necklace. This necklace contains (50) round cultured pearls. The clasp is 14k yellow gold with (14) pave set round brilliant cut diamonds around the center. The stock number is OBB3081. Strung Pearls Strand length: 18 inches - Princess Number of strands: 1 Number of pearls: 50 Size: 8 mm to 8-1/2 mm Color: Light cream/rose Shape: Mostly rouna Luster: High Nacre thickness: Medium Blemishes: Slightly blemished Matching: Very good Item Attributes Metal: 14K yellow gold Finish: Polished. Setting: Pave Condition: Excellent Total Approximate Retail Value Excluding Tax $1,260.00 Item 2 Bracelet One 14k white gold diamond teamis bracelet This bracelet contains (70) channel set round brilliant cut diamonds. Each link contains five round brilliant cut diamonds, The clasp is a hidden box with a safety. This piece weighs approximately 12.89 DWI'. Diamond Melee Attributes Shape and cut: Round full cut Weight: 0.05 to 0.06 cts. each Number of diamonds: 70 Total Weight: 4.20 cts. (estimated) Clarity: S1-1 Color: G-H Item Attributes Metal: 14K white gold Finish: Polished Setting: Prong set Condition: Excellent Total Approximate Retail Value Excluding Tax $1,100.00 Page 6 of 8 contains (1) fou~ prong set round briilaint cut It.em 3 full cut diamond. The shank of this ring diamond engagement ring. This ring oRinnegl4k white gold ........ ntex diamond is (1.) -~i~hs approximately 2.63 DWT Diamond Attributes Round bl-illiant Shape and cut: 6.40 x 6.33 x 3.70 mm (approximate) Measurements: 0.99 Cts. (estimated) Weight: V$-2 ClaritY: H Color. Diamaml Melee Attributes Round full cat shape and cut: 2 Number of diamonds: 1.10 cts. (estimated) Total Weight: S1-1 ClaritY: Color: Item AttributeS 14K white gold Metal: Polished Finish: prong set Setting': Excellent Condition: Total Approximate Retail Value Excluding Tat $2,310.00 Item 4 ' full cut diamonds, The shank Ring One lad~f s 14k white gold diamond band~ This ting contains (11) prong set of this ring has a plain finish and measures 2.Sram wide. This piece weighs approximately 2.0 DWT. Diamond Melee Attributes Round full cut Shape and cut: Number of diamonds: 11 .50 cts. (estimated) Total Weight: VS-1 Clarity: G Color: Page 7 of 8 Item Attributes Metal: 14K white gold Fimsh: Polished Setting: Prong set Condition: Very good T oral Approximate Retail Value Excluding T ax $155.00 Total Approximate Retail Value for All Items - Excluding Tax: $5,225.00 Five thousand two hundred twenty-f~e dollars and no cents Amy S. Rausch G. G: Graduate Gemologist, GIA Page 8 of 8 Item 3 Ring One 14k white gold diamond engagement ring. This ring contains (1) four prong set round bri~lamt cut diamond. Four prong set on ~ach side of the center diamond is (I) full cut diamond. The shank of this ring is a finger mate design which measures 2.4-2.5nun wide. This piece weighs approximately 2.63 DWT. Diamond Attributes Shape and cut: Round brilliant Measurements: 6.40 x 6.33 x 3.70 mm (approximate) Weight: 0.99 Cts. (estimated) Clarity: VS-2 Color. H Diamond Melee Attributes Shape and cut: Round full cut Number of diamonds: 2 Total Weight: 1.10 cts. (estimated) Clarity: S1-1 Color: I Item Attributes Metal: 14K white gold Finish: Polished Setting: Prong set Condition: Excellent ~ Total Approximate Retail Value EXCluding Tax $2,710.00 Item 4 Ring One lady's 14k white gold diamond band~ This ring contains (11) prong set full cut diamonds. The shank of this ting has a plain finish and measures 2.8mm wide. This piece weighs approximately 2.0 DWT Diamond Melee Attributes Shape and cut: Round full cut Number of diamonds: 11 Total Weight: .50 cts. (estimated) Clarity: VS-1 Color: G Page 7 of 8 Item Attributes Metal: 14K white gold Fimsh: Polished Setting: Prong set Condition: Very good Total Approximate Retail Value Excluding Tax $155.00 Total Approximate Retail Value for All Items - Excluding Tax: $5,225.00 Five thousand two hundred twenty-five dollars and no cents ~' ' Amy S. Rausch G.G: Graduate Gemologist, GIA Page 8 of 8 NUMBER ESTATE OF ALBERTA H. KEEN SSN: 194-20-3991 DOD: 10/03/2003 PA Inheritance Tax Return CALCULATION OF RESIDUE Gross Estate $1,076,787.12 Less: Debts, Funeral and Administration Expenses 25,625.86 1,051,161.26 Less: Unified Credit Trust 282,457.41 768,703.85 Less: Specific Bequests 15,266.73 753,437.12 Less: PA Taxes 1,737.00 Residue 751,700.12 RESIDUE = $751,700.12 Register of Wills of Cumberland County, Pennsylvania INVENTORY Estate of Alberta H. Keen No. 00877 of 2003 also known as Date of Death October 3, 2003 , Deceased Social Security No. 194-20-3991 I, Harold M. Keen, Personal Representative of the above Estate, deceased, vedfy that the items appearing in the following inventory include all of the personal assets wherever situate and all of the real estate in the Commonwealth of Pennsylvania of said Decedent, that the valuation placed opposite each item of said Inventory represents its fair value as of the date of the Decedent's death, and that Decedent owned no real estate outside of the Commonwealth of Pennsylvania except that which appears in a memorandum at the end of this inventory. I verify that the statements made in this Inventory are true and correct. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S. Section 4904 relating to unswom falsification to authorities. Name of Personal Representative: Attorney: Stanley A. Smith, Esquire I.D. No.: 33782 Address: Rhoads & Sinon LLP, P.O. Box 1146 Harrisburg, PA 17108-1146 Harold M. Keen Telephone: (717) 233-5731 Dated: 3//(~/0~/ Description Value See attachment $1,076,787.12 Total: $1,076,787.12 (Attach Additional Sheets if necessary) NOTE: The Memorandum of real estate outside the Commonwealth of Pennsylvania may, at the election of the personal representative, include the value of each item, but such figures should not be extended into the total of the Inventory, Fon~ RW-7 (Daup/lin Cour~ - Rev. 9/92) 503073.1 Estate of Alberta H Keen Estate Inventory Valued as of Date of Death No. of Shares Stocks 25 Berkshire Hathaway Inc Del C1 B New York Stock Exchange $ 63,386.25 100 Forest Labs Inc Common New York Stock Exchange 4,924.00 196.368 Keen Transport Company Stock Non-vot ing 504,469.39 Total Stocks $ 572,779.64 Miscellaneous First Day Cover Stamp Collection $ 41.73 Jewelry Valued per attached appraisal 5,225.00 Total Miscellaneous 5,266.73 Real Property Real property situate at 126 Sheaffer Road, Carlisle, Cumberland County, Pennsylvania, more particularly described in Deed dated June 13, 1990, and recorded in the Office of the Recorder of Deeds in and for Cumberland County at Book P, Volume 34, Pag~ 775 valued per. · attached appraisal --.... $ 450,000.00 Total Real Property 450,000.00 No. of Shares Mutual Funds (1) Estate Inventory No. of Shares Mutual Funds -1,310 Blackrock Income Opp Tr Inc Common New York Stock Exchange $ 14,279.00 2,192.982 Dryden Municipal Bond Fund High Income Series CL C 21,951.75 2,000 Mfs Multimarketing Income Tr Sh Ben Int New York Stock Exchange 12,510.00 Total Mutual Funds $ 48,740.75 Total Inventory $ 1,076,787.12 (2) - (~OMM(~NWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE REV-1162 EX(11-96) BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 PENNSYLVANIA RECEIVED FROM: INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT NO. CD 003718 SMITH STANLEY A P O BOX 1146 HARRISBURG, PA 17108-1146 ACH ASSESSMENT AMOUNT CONTROL NUMBER ........ fold ..... 101 81,737.00 ESTATE INFORMATION: SSN: 194-20-3991 FILE NUMBER: 2103-0877 DECEDENT NAME: KEEN ALBERTA H DATE OF PAYMENT: 03/25/2004 POSTMARK DATE: 03/24/2004 COUNTY: CUMBERLAND DATE OF DEATH: 10/03/2003 !~ TOTAL AMOUNT PAID: $1,737.00 REMARKS: -- CHECK# 1002 ~, INITIALS: JA i~: SEAL RECEIVED BY: GLENDA FARNER STRASBAUGH '' REGISTER OF WILLS REGISTER OF WILLS First Class Mail ATTORNEYS AT LAW ONE SOUTH MARKET SQUARE P.O. BOX HARRISBURG, PA ~7108-1146 TO: R¢~istcr o£ Wills Cumberland County Courthouse 1 Courthouse Square Carlisle, PA 17013 IN RE: · IN THE ORPHANS' COURT DIVISION ESTATE OF ALBERTA H. KEEN · OF THE COURT OF COMMON PLEAS Deceased · OF CUMBERLAND COUNTY, PENNSYLVANIA NO. 0877 of 2003 APPROVAL OF ACCOUNT AND REI.EASE WItEREAS, Alberta H. Keen (the "Decedent") died testate on October 3, 2003, leaving a Will which was duly probated by the Register of Wills of Cumberland County, Pennsylvania on October 24, 2003; and WItEREAS, the Decedent's Will appoints Decedent's husblifi~Harc~l M. ~ as Executor of Decedent's estate (the "Executor") and Letters *estament~ were cligy gr~fl, to Harold M. Keen on October 24, 2003; and ~ WHEREAS, Decedent's Will bequeaths her jewelry to h~irtaughte~ Elizabeth A. Keen, her First Day Covers in equal shares to her grandchildren, Shawn T. Keen and Amy Elizabeth Keen and a formula amount to the Unified Credit Trust, the named trustees of which are Harold M. Keen and William R. Keen, for the benefit of Harold M. Keen, for his lifetime. At the death of Harold M. Keen, the then remaining assets of the Unified Credit Trust pass to the Decedent's then living issue, per stirpes, now being her children, William R. Keen, Jesse H. Keen and Elizabeth A. Keen (hereinafter referred to as "the Remainder Beneficiaries"); and ~rItEREAS, under Decedent's Will, the residue of her estate passes to Harold M. Keen, outright; and WHEREAS, the Pennsylvania Inheritance Tax and Federal Estate Tax returns have been filed and administration of the estate is nearly complete, with the exception of the receipt of 506163.1 approval letters from the Pennsylvania Department of Revenue and Intemal Revenue Service and the filing final income tax returns; and WHEREAS, Harold M. Keen and Remainder Beneficiaries desire that the Estate be concluded without the expense and formality of a court accounting; and WItEREAS, the Executor is willing to consent to such a conclusion of the Estate upon receipt of a proper approval of account, release and indemnification, which it is the purpose of this Agreement to provide. NOW, THEREFORE, the undersigned, jointly, separately and severally, for themselves, their heirs, administrators, and assigns: (1) State that they have examined the First and Final Account of the administration of Decedent's Estate, which is attached hereto as Exhibit "A" (the "Account"), and approve the transactions and distributions set forth or proposed therein as though they had been confirmed absolutely by the Court having jurisdiction over the Estate. (2) State that they have examined the Statement of Proposed Distribution attached to the Account and they approve the distributions proposed therein as though they were ordered by the Court having jurisdiction over the Estate. (3) Waive the filing and auditing of the Account by any Court and agree that any Court having jurisdiction over the Estate may confirm the Account and any Proposed Distribution. (4) Acknowledge receipt from the Executor of the assets shown as distributed or distributable to them in the said Account or Statement of Proposed Distribution in absolute payment of full satisfaction of the bequest to them under Decedent's Will. (5) Do hereby absolutely and irrevocably release, remise, quitclaim and forever discharge the said Executor, his heirs and personal representatives, of and from all actions, suits, payments, accounts, reckonings, claims and demands whatsoever relating to the Estate of the said Decedent. (6) Do hereby absolutely and irrevocably release the Executor from filing any Account, Petition for Distribution or other document with the Court of Common Pleas of Cumberland County, Pennsylvania, or in any other jurisdiction in connection with the Estate of the Decedent. (7) Hereby agree that if, at any time in the future, the said Executor receives any demand or claim for any amount claimed to be due and owing from him, as Executor, and approves said demand or claim, they shall, at the request of the said Executor, pay to the said Executor the amount of any such demand or claim, or if it has been paid by the said Executor, then reimburse him for the amount paid by him, provided that the amount of such requested payment or reimbursement shall not exceed the total of the assets paid or distributed by said Executor to the Beneficiaries as set forth in the attached Account. (8) Do hereby agree that this Agreement may be signed and acknowledged by the parties hereto in counterparts and a complete set of executed counterparts, containing the signatures of all parties, shall constitute an original and complete instrument. This instrument shall be legally binding on each of the undersigned and their personal representatives, heirs and assigns. - 3 - IN WITNESS WHEREOF, each of the undersigned has executed this Agreement on the /~- day of .~/tr~/ ,2004. ~ /~o,~ .~s~ Wi~ess~ ~ ~/ WillimR. reen, indiv~duallyand as Co-Irustee Wi Eli n - 4 - COMMONWEALTH OF PENNSYLVANIA: 'SS: COUNTY OF ~~ · On this, the I.__~ day of /q ~ , 2004, before me, a Notary Public, in and for the Commonwealth of Pennsylvania, the undersigned officer, personally appeared HAROLD M. KEEN, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Agreement and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public M ,-, . · .. . COMMONWEALTH OF PENNSYLVANIA y t~ommlsmon ~zxp~e~: ~o~am~ Sea~ ! Robert F. Ko#eL Jr., Notary Public [SEal ~ | Middlesex Twp., Cumberland County ', ' '~'-'! ~ My Commission Expires Feb. 12, 2008 Member, Pennsylvania Association Of Notaries COMMONWEALTH OF PENNSYLVANIA: COUNTYOF C~.~,,~a.~~.'ss: On this, the ~,__0 day of 0U t~ 64--, 2004, before me, a Notary Public, in and for the Commonwealth of Pennsylvania, the undersigned officer, personally appeared WILLIAM R. KEEN, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Agreement and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. /&2, 3/Pd&5 ,^ Notary Public CO~a~t~uw~q-m OF ~NNSVLVAN _ My Co~ission Expires: ~xT~., ~m ~-,~ ~~ E~r~ ~b. 12, 2008 (SE~) Member, Pennsylvania Association Of Notarie:; - 6 - COMMONWEALTH OF PENNSYLVANIA: COUNTYOF ~,~o~-'SS: On this, the l__Oday of ~x~r,,, 2004, before me, a Notary Public, in and for the Commonwealth of Pennsylvania, the undersigned officer, personally appeared JESSE H. KEEN, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Agreement and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public COMM*~NWr=AL&fiaOI Seal Robert F. Koller, Jr., Notary Public My Commission Expires: Middlesex Twp., Cumberland County My Commission Expires Feb. 12, 2008 Member, Pennsylvania Association Of Notaries (SEAL) - 7 - COMMONWEALTH OF PENNSYLVANIA: COUNTYOF C,,,~_~.'ss: On this, theaO day of /g/rix t,,~ , 2004, before me, a Notary Public, in and for the Commonwealth of Pennsylvania, the undersigned officer, personally appeared ELIZABETH A. KEEN, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Agreement and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public COMMONV~EALTH OF PENNSYLVANIA Notarial Seal Robert F. Ko#er, Jr., Notary Public My Commission Expires UiddlesexTwp.. Cumbodand County k~] Commission Ex, ms Feb. 12, 2008 (SEAL) Member, Pennsylvan,a Association Of Notarieu - $ - IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 00877 of 2003 FIRST AND FINAL ACCOUNTING OF Harold M. Keen, Executor For ESTATE OF ALBERTA H. KEEN, Deceased Date of Death: October 3, 2003 Date of Appointment: October 24, 2003 Date of First Complete Advertisement of Letters: November 7, 2003 Accounting for the Period: October 3, 2003 to February 29, 2004 Purpose of Account: Harold M. Keen, Executor, offers this'account to acquaint interested parties with the transactions that have occurred during his administration. The account also indicates the proposed distribution of the estate. It is important that the account be carefully examined. Requests for additional information, or questions, or objections, can be discussed with: Stanley A. Smith, Esquire Rhoads & Sinon LLP One South Market Square 12th Floor P.O. Box 1146 Harrisburg, PA 17108-1146 (717) 233-5731 507243.1 Estate 6f Alberta H Keen Summary of Account Principal Page Receipts 2 $ 1,089,827.12 Net Gain on Sales or Other Dispositions 4 6,861.78 $ 1,096,688.90 Less Disbursements: 6 Federal & State Taxes $ 1,737.00 1,737.00 Balance Before Distributions $ 1,094,951.90 Less Distributions to Beneficiaries 7 15,266.73 Principal Balance On Hand 8 $ 1,079,685.17 For Information: Investments Made 9 Unpaid Expenses 11 Unrealized Gains and Losses 11 Income Receipts 11 $ 3,352.29 Net Gain on Sales or Other Dispositions 13 0.00 $ 3,352.29 Less Disbursements: 14 Administrative Expenses $ 248.33 248.33 Balance Before Distributions $ 3,103.96 Less Distributions to Beneficiaries 15 0.00 Income Balance on Hand 16 $ 3,103.96 For Information: Investments Made 17 Unpaid Expenses 17 Unrealized Gains and Losses 17 Combined Balance on Hand $ 1,082,789.13 (1) Estate ~f Alberta H Keen Receipts of Principal No. of Inventory Value Shares Stocks 1010312003 25 Berkshire Hathaway Inc Del C1 B New York Stock Exchange $ 63,386.25 100 Forest Labs Inc Common New York Stock Exchange 4,924.00 196.368 Keen Transport Company Stock Non-voting 504,469.39 Total Stocks $ 572,779.64 Inventory Value Miscellaneous 10/03/2003 First Day Cover Stamp Collection $ 41.73 Jewelry Valued per attached appraisal 5,225.00 Total Miscellaneous 5,266.73 Inventory Value Real Property 10/03/2003 Real property situate at 126 Sheaffer Road, Carlisle, Cumberland County, Pennsylvania, more particularly described in Deed dated June 13, 1990, and recorded in the Office of the Recorder of Deeds in and for Cumberland County at Book P, Volume 34, Page 775 valued per attached appraisal $ 450,000.00 Total Real Property 450,000.00 (2) Receipts o£Principal (Continued) No. of Inventory Value Shares Mutual Funds 1010312003 1,310 Blackrock Income Opp Tr Inc Common New York Stock Exchange $ 14,279.00 2,192.982 Dryden Municipal Bond Fund High Income Series CL C 21,951.75 2,000 Mfs Multimarketing Income Tr Sh Ben Int New York Stock Exchange 12,510.00 Total Mutual Funds $ 48,740.75 Total I NVE NTORY $ 1,076,787.12 RECEIPTS SUBSEQUENT TO INVENTORY 01/07/2004 Rent received from Harold M. Keen for property located at 126 Sheaffer Road $ 13,040.00 Total RECEIPTS SUBSEQUENT TO INVENTORY 13,040.00 Total Receipts of Principal $ 1,089,827.12 (3) Estate of Alberta H Keen Gains and Losses on Sales or Other Dispositions of Principal Net Gain Net Loss 12/01/2003 Sale 25 Shares Berkshire Hathaway Inc Del C1 B New York Stock Exchange Net Proceeds $ 70,063.34 Inventoried at 63,386.25 $ 6,677.09 12/01/2003 Sale 1,310 Shares Blackrock Income Opp Tr Inc Common New York Stock Exchange Inventoried at $ 14,279.00 Net Proceeds 13,990.45 $ 288.55 12/01/2003 Sale 2, 192.982 Units Dryden Municipal Bond Fund High Income Series CL C Net Proceeds $ 22,209.66 Inventoried at 21,951.75 257.91 1210112003 Sale 100 Shares Forest Labs Inc Common New York Stock Exchange Net Proceeds $ 5,330.49 Inventoried at 4,924.00 406.49 12/01/2003 Sale 2,000 Shares Mfs Multimarketing Income Tr Sh Ben Int New York Stock Exchange Inventoried at $ 12,510.00 Net Proceeds 12,318.84 191.16 01/07/2004 Collection Rent received from Harold M. Keen for property located at 126 Sheaffer Road Net Proceeds $ 13,040.00 Carried at 13,040.00 (4) Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss Total Gains and Losses $ 7,341.49 $ 479.71 Net Gain $ 6,861.78 (5) Estate of Alberta H Keen Disbursements of Principal Date Paid Amount Paid Federal and State Taxes 01/31/2004 Register of Wills, Agent $ 1,737.00 Payment of Inheritance Taxes Total Federal and State Taxes $ 1,737.00 Total Disbursements of Principal $ 1,737.00 (6) Estate ~f Alberta H Keen Distributions of Principal to Beneficiaries Distribution Value Amy E. Keen 01/31/2004 First Day Cover Stamp $ 20.87 Collection $ 20.87 Elizabeth A. Keen 01/14/2004 Jewelry $ 5,225.00 Valued per attached appraisal 5,225.00 Shawn T. Keen 01/31/2004 First Day Cover Stamp $ 20.86 Collection 20.86 Helen Snyder 01/26/2004 Cash $ 10,000.00 Check Number 1001 10,000.00 Total Distributions of Principal $ 15,266.73 (7) Estate ~f Alberta H Keen Principal Balance On Hand Valued as of February 29, 2004 Inventory Value Cash and Cash Equivalents Waypoint Bank Estate Account No.: 108028564 $ 125,215.78 Total Cash and Cash Equivalents $ 125,215.78 No. of Shares Stocks 196.368 Keen Transport Company Stock Non-voting $ 504,469.39 Total Stocks $ 504,469.39 Real Property Real property situate at 126 Sheaffer Road, Carlisle, Cumberland County, Pennsylvania, more particularly described in Deed dated June 13, 1990, and recorded in the Office of the Recorder of Deeds in and for Cumberland County at Book P, Volume 34, Page 775 valued per attached appraisal $ 450,000.00 Total Real Property $ 450,000.00 Total Balance on Hand $ 1,079,685.17 (8) Estate o~f Alberta H Keen Information Schedules - Principal Inventory Exchanges and Stock Distributions Value Berkshire Hathaway Inc Del C1 B New York Stock Exchange 10/03/2003 25 Shs. Received $ 83,388.25 12/01/2003 (25) Shs. Sold (83,386.25) Blackrock Income Opp Tr Inc Common New York Stock Exchange 10/03/2003 1,310 Shs. Received $ 14,279.00 12/01/2003 (1,310) Shs. Sold (14,279.00) Dryden Hunicipal Bond Fund High Income Series CL C 10/03/2003 2,192.982 Uts. Received $ 21,951.75 12/01/2003 (2,192. 982) Uts. Sold (21,951.75) First Day Cover Stamp Collection 10/03/2003 Received $ 41.73 01/31/2004 Distribution (20.86) To Shawn T. Keen On Hand $ 20.87 01/31/2004 Distribution (20.87) To Amy E. Keen Forest Labs Inc Common New York Stock Exchange 10/03/2003 100 Shs. Received $ 4,924.00 12/01/2003 (100) Shs. Sold (4,924.00) Jewelry Valued per attached appraisal 10/03/2003 Received $ 5,225.00 01/14/2004 Distribution (5,225.00) To Elizabeth A. Keen (9) Information Schedules - Principal (Continued) Inventory Exchanges and Stock Distributions Value Keen Transport Company Stock Non-voting 10/03/2003 196.368 Shs. Received $ 504,469.39 196.368 Shs. On Hand $ 504,469.39 Mfs Multimarketing Income Tr Sh Ben Iht New York Stock Exchange 10/03/2003 2,000 Shs. Received $ 12,510.00 12/01/2003 (2,000) Shs. Sold (12,510.00) Real property situate at 126 Sheaffer Road, Carlisle, Cumberland County, Pennsylvania, more particularly described in Deed dated June 13, 1990, and recorded in the Office of the Recorder of Deeds in and for Cumberland County at Book P, Volume 34, Page 775 valued per attached appraisal 10/03/2003 Received $ 450,000.00 On Hand $ 450,000.00 (lO) ' Estate o'f Alberta H Keen ' Receipts of Income Income Collected Blackrock Income Opp Tr Inc Common New York Stock Exchange 10/31/2003 Dividend on 1,310 Shares $ 91.70 11/28/2003 Dividend on 1,310 Shares 91.70 $ 183.40 Dryden Municipal Bond Fund High Income Series CL C 10/21/2003 Interest on 2,192.982 Units $ 88.63 11/21/2003 Interest on 2, 192.982 Units 88.11 11/25/2003 Interest on 2,192.982 Units 11.33 12/02/2003 Interest on 0 Units 19.81 207.88 Mfs Multimarketing Income Ir Sh Ben Int New York Stock Exchange 10/31/2003 Dividend on 2,000 Shares $ 68.00 11/28/2003 Dividend on 2,000 Shares 67.00 135.00 Wachovia Securities Estate Account 12/10/2003 Interest $ 17.68 17.68 Waypoint Bank Estate Account No.: 108028564 10/31/2003 Rent $ 640.00 11/30/2003 Rent 640.00 1,280.00 (11) Receipts of Income (Continued) Waypoint Bank Estate Account No.: 108028564 12/01/2003 Miscellaneous Income $ 248.33 Money received for dividends from Mrs. Keen's estate account (11/3/2003) $ 248.33 Waypoint Bank Estate Account No.: 108028564 12/31/2003 Rent $ 640.00 01/31/2004 Rent 640.00 1,280.00 Total Income Received $ 3,352.29 (12) Estate of Alberta H Keen Gains and Losses on Sales or Other Dispositions of Income Net Gain Net Loss No Gain or Loss $ o.oo (13) Estate of Alberta H Keen Disbursements of Income Date Paid Amount Paid Administration Expenses 11/03/2003 Harold M. Keen $ 248.33 Automatic Income Payment Total Administration Expenses $ 248.33 Total Disbursements of Income $ 248.33 (14) Estate of Alberta H Keen Distributions of Income to Beneficiaries Distribution Value Total Distributions of Income $ 0.00 (15) Estate of Alberta H Keen Income Balance On Hand Valued as of February 29, 2004 Inventory Value Cash and Cash Equivalents Waypoint Bank Estate Account No.: 108028564 $ 3,103.96 Total Cash and Cash Equivalents $ 3,103.96 Total Balance on Hand $ 3,103.96 (16) ESTATE OF ALBERTA H. KEEN PROPOSED SCHEDULE OF DISTRIBUTION Cash Balance on Hand $128,319.74 Less Reserves: Rhoads & Sinon LLP Out of Pocket Expenses 1,125.86 Rhoads & Sinon LLP Attorney's Fees 24,500.00 25,625.86 Total Cash For Distribution $102:693.88 Total Assets for Distribution $1,057,163.27 TO: Harold M. Keen and William R. Keen, Co-Trustees of the Unified Credit Trust created under ITEM 3 of the decedent's will Keen Transport Co. non-voting stock: 109.949 shares ~ $2,569 = $282,458.98 $282..458.98 TO: Harold M. Keen Residue per ITEM 5 of will, consisting of Principal cash $ 99,589.92 Income cash $ 3,103.96 Real property situate at 126 Sheaffer Road, Carlisle, Pennsylvania $450,000.00 Keen Transport Co. non-voting stock: 86.419 shares ~ $2,569 = $222,010.41 Total 507530.1 AFFIDAVIT Harold M. Keen, Executor under the Last Will and Testament of Alberta H. Keen, deceased, hereby declares under oath that he has fully and faithfully discharged the duties of his office; that the foregoing Account is tree and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that, to his knowledge, there are no claims now outstanding against the Estate; that all taxes presently due from the Estate have been paid. Harold M. Keen, Executor Sworn to and subscribed before me this :?. o day of t, qruM,... , 2004. NOTARY PUBLIC COMMONWEALTH OF PENNSYLVANIA MY COMMISSION EXPIRES: Notaaa~ Robert F. Koller, Jr., Nolary Public Middlesex Twp., Cumberland County (SEAL) My Comm.~ Expires Feb. 12, 2008 Member, Penns¥1vam~ Association Of Notaries COMMONNEALTH OF PENNSYLVANZA BUREAU OF ZNDZVZDUAL TAXES DEPARTMENT OF REVENUE ZNHERZTANCE TAX DZVZSZON DEPT. 280601 NOTZCE OF ZNHERZTANCE TAX HARR/SBURG, PA 17128-0601 APPRAZSEMENT, ALLOgANCE OR DZSALLOgANCE OF DEDUCTZONS AND ASSESSMENT OF TAX REV-l~47EXAFPCOl-OS) ~:, DATE 05-2q-Z00q . ESTATE OF KEEN ALBERTA H DATE OF DEATH 10-05-2005 FZLE NUMBER 21 05-0877 '0d i'i~¥ 24 ,~'~ ?.,(~TY CUMBERLAND STANLEY A SMZTH ESQ ACN 101 RHOADS 8 SZNON Amoun~ Remi~ed PO BOX llq6 t HB$ PA 17108 MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF N~LLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17015 CUT ALONG THZS LZNE ~ RETAZN LONER PORTZON FOR YOUR RECORDS REV-l$47 EX AFP (01-03) NOTZCE OF ZNHERZTANCE TAX APPRAZSEMENT, ALLONANCE OR DZSALLONANCE OF DEDUCTZONS AND ASSESSMENT OF TAX ESTATE OF KEEN ALBERTA H FZLE NO. 21 05-0877 ACN 101 DATE 05-2q-ZO0q TAX RETURN gAS: (X) ACCEPTED AS FZLED ( ) CHANGED RESERVATZON CONCERNZNG FUTURE ZNTEREST - SEE REVERSE APPRAZSED VALUE OF RETURN BASED ON: OR/G/NAL RETURN 1. Real Es~a~e (Schedule A) (1) qSO;O00.O0 NOTE: To insure proper 2. S~ocks end Bonds (Schedule B) (2) 117;051.00 credi~ ~o your account, $. Closely Held S~ock/Par~narship Zn~eras~ (Schedule C) ($) 50qzq69.59 submi~ ~he upper portion q. Hor~gages/No~as Receivable (Schedule D) (q) .00 of ~his form wi~h your ~. Cash/Bank Dapos1~s/Misc. Personal Proper~y (Schedule E) (E) 5;266.75 ~ax payment. 6. Jointly Owned Property (Schedule F) (6) .00 7. Transfers (Schedule G) (7) .00 8. To'al Asse~s (8) 1,076,787.12 APPROVED DEDUCTZONS AND EXEMPTZONS: 25,625.86 9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) (9) 10. Dab~s/Hor~gage Liabilities~Liens (Schedule Z) (10) .00 11. To,al Deductions (11) 12. Ne~ Value of Tax Re~urn (12) 1,051,161.26 15. Charitable/Governmental Bequests; Non-elected 9115 Trusts (Schedule J) (1~) 282,~57.~1 lq. Ne~ Value of Estate Subject ~o Tax (lq) 768,705.85 NOTE: ~f an assessaent was issued previously, lines 1~, 15 and/or 16, 17, 18 and 19 ~111 reflect figures that include the total of ALL returns assessed to date. ASSESSMENT OF TAX: 755,q57 12 x O0 O0 15. Amoun~ of L~ne lq a~ Spousal ra~e (15) ' = ' 16. Amoun~ of L/ne lq ~axable a~ Lineal/Class A re~a (16). 5,266.75 X Oq5 = 257.00 17. Amoun~ of L/ne lq a~ Sibling ra~e (17). .00 X 12 = .00 18. Amoun~ of L/ne lq ~axeble a~ Collateral~Class B ra~e (18) 10,000.00 X 15 = 1,500.00 19. Prtnclpal Tax Due (19)= 1,757.00 TAX CREDXTS: PAYHENT RECE/P1 DISCOUNT (+) AMOUNT PAZD DATE NUMBER INTEREST/PEN PAID {-) 05-Zq-Z00q CD005718 .00 1,757.00 TOTAL TAX CREDZT I 1,757.00 BALANCE OF TAX DUEl .00 ZNTEREST AND PEN. .00 TOTAL DUE .00 ZF PA/D AFTER DATE ZND/CATED, SEE REVERSE ( ZF TOTAL DUE ZS LESS THAN $1, NO PAYMENT ZS RE~UZRED. FOR CALCULATZON OF ADDZTZONAL ZNTEREST. TF TOTAL DUE IS REFLECTED AS A "CREDZT" (CR), YOU MAY BE DUE A REFUND. SEE REVERSE SZDE OF THZS FORM FOR ZNSTRUCTZONS.) RESERVATION: Estates of decedents dying on or before December 1Z, 1981 -- if any futura interest in the estate ls transferred in possession or enjoyment to Class B (collateral) beneficiaries of the decedent after the expiration of any estate for life or for years, the Coeaonaaalth hereby expressly reserves the right to appraise and assess transfer Inheritance Taxes at tho lawful Class B (collateral) rate on any such future interest. PURPOSE OF NOTICE: To fulfill the requirements of Section ZlqO of the Inheritance and Estate Tax Act, Act 15 of 2000. (72 P.S. Section 91q0). PAYMENT: Detach the top portion of this Notice and submit with your payment to the Register of Nills printed on the reverse side. --Make check or money order payable to: REGISTER OF HILLS, AGENT REFUND (CR): A refund of a tax credit, which was not requested on the Tax Return, may be requested by completing an "Application for Refund of Pennsylvania Inheritance and Estate Tax" (REV-1513). Applications ara available at the Office of the Register of Hills, any of the Z5 Revenue District Offices, or by calling the special Iq-hour answering service for forms ordering: 1-800-561-2050; services for taxpayers with special hearing and / or speaking needs: 1-800-qq7-50ZO (TT only). OBJECTIONS: Any party in interest not satisfied eith the appraisement, allowance, or disalloeance of deductions, or assessment of tax (including discount or interest) as sheen on this Notice must object within sixty (60) days of receipt of this Notice by: --eritten protest to the PA Department of Revenue, Board of Appeals, Dept. 181011, Harrisburg, PA 171IA-lOll, OR --election to have the matter determined at audit of the account of the personal representative, OR --appeal to the Orphans' Court. ADMIN- ISTRATIVE CORRECTIONS: Factual errors discovered on this assessment should ba addressed in writing to: PA Department of Revenue, Bureau of Individua! Taxes, ATTN: Post Assessment Review Unit, Dept. 280601, Harrisburg, PA 17lIB-0601 Phone (717) 767-6505. Sam page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident Decedent" (REV-1501) for an explanation of administratively correctable errors. DISCOUNT: If any tax due is paid within three (2) calendar months after the dacedant's death, a five percent (SI) discount of tho tax paid is allowed. PENALTY: The 15Z tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not paid before January 18, 1996, the first day after the end of the tax amnesty period. This non-participation penalty is appealable in the same manner and in the the same time period as you mould appeal the tax and interest that has been assessed as indicated on this notice. INTEREST: Interest is charged beginning with first day of delinquency, or nine (9) months and one (1) day from the date of death, to the date of payment. Taxes ehich became delinquent before January 1, 19BI bear interest at the rate of six (6X) percent per annum calculated at a daily rate of .O0016&. All taxes which became delinquent on and after January 1, 1981 will bear interest at a rate which will vary from calendar year to calendar year with that rate announced by the PA Department of Revenue. The applicable interest rates for 1981 through ZOOq are: Interest Daily Interest Daily Interest Daily Year Rate Factor Year Rate Factor Year Rate Factor ~ ZOZ .O005q8 ~)'~6-199X llZ .000301 ~ 9Z .OOOZq7 1983 16Z .O00qSB 1991 9Z .O00Zq7 ZODZ 61 .00016~ 198q IZX .000501 1995-199q 7X .OOOXgZ 2003 SZ .000157 1985 13X .000556 1995-1998 91 .OO02q7 200~ ~Z .000110 1986 ZOZ .O00Z7q 1999 7Z .OO0191 1987 101 .O00Z7q ZOO0 71 .000192 --Interest is calculated as folloas: INTEREST = BALANCE OF TAX UNPAXD X NUNBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR --Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15) days beyond the date oF the assessment. Zf payment is made after the interest computation date sheen on the Notice, additional interest must ba calculated. COMMONWEALTH OF PENNSYLVANIA BUREAU OF INDIVIDUAL TAXES DEPARTMENT OF REVENUE INHERITANCE TAX DIVISION DEPT. 280&01 NOTICE OF DETERMINATION AND ~RRISBURG. PA17128-060] ASSESSMENT OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN ~-~8~e~o~-o~ :~ DATE ESTATE OF KEEN ALBERTA H DATE OF DEATH 10-05-2003 FILE NUHBER 21 03-0877 STANLEY A S~H ~'~ 2~ D~i _, -:3-~ COUNTY CUMBERLAND ACN 201 RHOADS & SINON Amount Remitted PO BOX MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 NOTE: To insure proper credit to your account, submit the upper port/on of this form w/th your tax payment. CUT ALONG THIS LINE ~- RETAIN LOWER PORTION FOR YOUR FILES '~ OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN ** ESTATE OF KEEN ALBERTA H FILE N0.21 03-0877 ACN 201 DATE 05-2~-200~ ESTATE TAX DETERHZNATION 1. Credit For State Death Taxes as Verified .00 2. Pennsylvania Inheritance Tax Assessed 1~737.00 CExcluding Discount and/or Interest) 3. Inheritance Tax Assessed by Other States .00 or Territories of the United States CExcluding Discount and/or Interest) ~. Total Inheritance Tax Assessed lr737.00 5. Pennsylvania Estate Tax Due .00 TAX CREDITS= PAYHENT RECEIPT DISCOUNT (+) DATE NUHBER INTEREST/PEN PAID (-) AHOUNT PAID TOTAL TAX CREDIT I .00 BALANCE OF TAX DUEI .00 INTEREST AND PEN. I .00 TOTAL DUE I .00 *IF PAID AFTER THIS DATE, SEE REVERSE SIDE ~IF TOTAL DUE IS LESS THAN 91, NO PAYHENT IS REQUIRED FOR CALCULATION OF ADDITIONAL INTEREST. IF TOTAL DUE IS REFLECTED AS A "CREDIT" CCR), YOU MAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.) PURPOSE OF NOTICE: To fulfill the requirements of Section 2140 (b) of the Inheritance and Estate Tax Act, Act 23 of 2000. (72 P.S. Section 9140). PAYHENT= Detach the top portion of this Notice and submit with your payment to the Register of Wills printed on the reverse side. -- Hake check or money order payable to: REGISTER OF MILLS, AGENT. REFUND (CR}: A refund of a tax credit may be requested by completing an "Application for Refund of Pennsylvania Inheritance and Estate Tax" {REV-IS13). Applications are available at the Office of the Register of Wills, any of the 25 Revenue District Offices or from the Department°s 24-hour answering service for forms ordering= 1-800-$62-2050; services for taxpayers with special hearing and / or speaking needs= 1-800-447-$020 (TT only). OBJECTIONS: Any party in interest not satisfied with the assessment of tax as shown on this notice may object within sixty (60) days of receipt of this Notice by: --written protest to the PA Department of Revenue, Board of Appeals, Dept. 281021, Harrisburg, PA 17128-]021, OR --electing to have the matter determined at audit of the personal representative, OR --appeal to the Orphans' Court. ADH/N- ISTRATIVE CORRECTIONS: Factual errors discovered on this assessment should be addressed in writing to= PA Department of Revenue, Bureau of Individual Taxes, ATTN: Post Assessment Review Unit, Depto 280601, Harrisburg, PA ]7128-060], Phone (7]7) 787-6505. See page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident Decedent" (REV-1501) for an explanation of administratively correctable errors. PENALTY: The 15Y, tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not paid before January 18, 1996, the first day after the end of the tax amnesty period. This non-participation penalty is appealable in the same manner and in the the same time period as you would appeal the tax and interest that has been assessed as indicated on this notice. INTEREST: For dates of death on or after 10-$-91, Pennsylvania Estate Tax based on the Federal Estate Tax return becomes delinquent at the expiration of nine (09) months from the date of death. For dates of death prior to 10-3-91, Pennsylvania Estate Tax based on the Federal Estate Tax return becomes delinquent at the expiration of eighteen (18} months from the date of death. Taxes which became delinquent before Januar3/ 1, 1982 bear interest at the rate of six (SY,) percent per annum calculated at a daily rate of .000164. All taxes which became delinquent on or after January 1, 1982 will bear interest at a rate which wil1 vary from calendar year to calendar year with that rate announced by the PA Department of Revenue. The applicable interest rates for 1982 through 2004 are.' Interest Daily Interest Daily Interest Daily Yea~ Rate Factor Yea~ Rate Factor Yea~ Rate Factor 1982 20Y, .000548 1988-1991 llY, .000301 2001 9Y. .000247 1983 lAY. . 000438 1992 9Y, . 000247 2002 6Y, . 000164 198~ 11~, · 000301 1993-199~ 7~, . 000192 2003 5Y. . 000137 1985 13Y. .000356 1995-1998 9Y, .000247 2004 ~Y, .000110 1986 10Y, .000274 1999 7Y. .000192 1986 JOY. .000274 2000 8Y, .000219 --Interest is calculated as follows: INTEREST = BALM(CE OF TAX UNPAZD X NUtlBER OF DAYS DELZNglUENT X DAILY ZNTERF.~T FACTOR --Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15} days beyond the date of the assessment. If payment is made after the interest computation date sho~n on the Notice, additional interest must be calculated. :~. :::;: Kimberly A. Meals RHOADS :~:~: ~i::::'~i~:~:: ~/']'~ ph (717)231-6671 & SINON LLP fx(717) 232-1459 kmeals~rhoads-sinon.com n~.E so: 8701/01 October 4, 2004 Re: Estate of Alberta H. Keen Ms. Glenda Famer-Strasbaugh Register of Wills Cumberland County Courthouse High and Hanover Streets Carlisle, PA 17013 Dear Ms. Famer-Strasbaugh: Enclosed for filing please find a Status Report for the above-referenced Decedent. Please time-stamp the enclosed copy and return it to me in the enclosed self-addressed, stamped envelope. Also enclosed for your file is the Federal Approval Letter for the above-referenced Decedent. If you have any questions please feel free to contact me. Very truly yours, RHOADS & SINON LLP · erly A. Meals Legal Assistant Enclosures 535660. I 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 STATUS REPORT UNDER RULE 6.12 Name of Decedent: Alberta H. Keen Date of Death: October 3, 2003 Will No. Admin. No. 2003-00877 Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with respect to completion of the administration of the above-captioned estate: 1. State whether administration of the estate is complete: Yes X No 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: 3. If the answer to No. 1 is Yes, state the following: a. Did the personal representative file a final account with the Court? Yes No X b. The separate Orphans' Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? Yes X No ~ ~ ,. d. Copies of receipts, releases, joinders and ~ii3provals~f formal, or informal accounts may be filed with the Clerk of the~urt and may be affflched to this report. ~ c~ Date: ~- - ~-.. ~ ,~; ~ Sign '~ ~. Stanley A. Smith Name (Please type or print) Rhoads & Sinon LLP Address P.O. Box 1146, Harrisburg, PA 17108-1146 Tel. No. Capacity: Personal Representative X Counsel for personal representative 535663.1 COMMONgEALTH OF PENNSYLVANZA BUREAU OF ZNDZVZDUAL TAXES DEPARTMENT OF REVENUE ZNHERITANCE TAX DIVISION DEPT. 28060! NOTZCE OF DETERMZNATZON AND HARRISBURG, PA 171Z8-0601 ASSESSMENT OF PENNSYLVANZA ESTATE TAX BASED ON FEDERAL CLOSZNG LETTER ,Ev-7. Ex,FPco~-oz, · DATE 11-01-ZOOq .... ESTATE OF KEEN ALBERTA H DATE OF DEATH 10-03-2005 FZLE NUMBER 21 03-0877 STANLEY A SMITH ESQ '0~i L~¥ -1 ~:~ :1~ COUNTY CUMBERLAND ACN 202 RHOADS & SZNON Amoun~ Remi~ed PO BOX llq6 ~ I MAKE CHECK PAYABLE AND REMZT PAYMENT TO: REGZSTER OF HILLS CUMBERLAND CO COURT HOUSE CARLZSLE, PA 17013 NOTE: To insure proper cred/~ ~o your account, submit ~he upper portion of ~his fore wi~h your ~ax payment. CUT ALONG THZS LZNE ~ RETAZN LO#ER PORTZON FOR YOUR FZLES REV-736 EX AFP (01-02) ~ NOTZCE OF DETERMZNATZON AND ASSESSMENT OF PENNSYLVANZA ESTATE TAX BASED ON FEDERAL CLOSZNG LETTER ESTATE OF KEEN ALBERTA H FZLE N0.21 03-0877 ACN 202 DATE 11-01-200q ESTATE TAX DETERMZNATZON 1. Cred1~ For State Death Taxes as Vet/lied .00 Z. Pennsylvania ~nher~ance Tax Assessed 1,737.00 (Excluding D~scoun~ and/or Interest) 3. Znher~ance Tax Assessed by O~her S~a~es .00 or Territories of ~he United S~a~es (Excluding Discount and/or Znterest) q. Total 1nher/tance Tax Assessed 1~737.00 5. Pennsylvania Estate Tax Due .00 6. Amoun~ of Pennsylvania Estate Tax Previously Assessed Based on Federal Estate Tax Return .00 7. Additional Pennsylvania Estate Tax Due .00 TAX CREDZTS: PAYMENT RECEZPT DISCOUNT (+) AMOUNT PAZD DATE NUHBER ZNTEREST/PEN PAZD (-) TOTAL TAX CRED/T I .00 BALANCE OF TAX DUEl .00 ZNTEREST AND PEN. .00 TOTAL DUE .0 *IF PAZD AFTER THTS DATE, SEE REVERSE SI'DE (TF TOTAL DUE IS LESS THAN $1,, NO PAYMENT 'rs REQUZRED FOR CALCULAT'rON OF ADD'rT.rONAL TNTEREST. TF TOTAL DUE .rS REFLECTED AS A 'CRED'rT' (CA), YOU HAY BE DUE A REFUND. SEE REVERSE S'rDE OF TH'rS FORM FOR 'rNSTRUCT/ONS. PURPOSE OF NOTICE: To fulfill the requirements of Section 2140 of the Inheritance and Estate Tax Act, Act 25 of ZOO0. (72 P.S. Section PAYMENT: Detach the top portion of this Notice and submit with your payment to the Register of #ills printed on the rgvarsB side. -- Make check or money order payable to: REGISTER OF WILLS, AGENT. REFUND (CR): A refund of a tax credit may be requested by completing an "Application for Refund of Pennsylvania Inheritance end Estate Tax" (REV-IS15). Applications are available mt the Office of the Register of Wills, any of the 25 Revenue District Offices or from the Department's Z4-hour answering service for forms ordering: 1-800-562-2050; services for taxpayers with special hearing and/or speaking needs: 1-800-447-5020 (TT only). OBJECTIONS: Any party in interest not satisfied with the assessment of tax as shown on this notice say object within sixty (60) days of receipt of this Notice by: --written pretest to the PA Department of Revenue, Board of Appeals, Dept. ZBIOZ1, Harrisburg, PA 17128-1021, OR --electing to have the matter determined at audit of the personal representative, OR --appeal to the Orphans' Court ADMIN- ISTRATIVE CORRECTIONS: Factual errors discovered on this assessment should be addressed in writing to: PA Department of Revenue, Bureau of Individual Taxes, ATTN: Post Assessment Review Unit, Dept. 280601, Harrisburg, PA 17128-0601, Phone [717) 787-650S. See page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident Decedent" (REV-150I) for an explanation of administratively correctable errors. PENALTY: The 15Z tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not paid before January lB, 1996, the first day after the end of the tax amnesty period. This non-participation penalty is appealable in the same manner and in the the same time period as you would appeal the tax and interest that has been assessed as indicated on this notice. INTEREST: Additional Pennsylvania Estate Tax assessed as a result of a change on the Federal Estate Tax closing letter becomes delinquent at the expiration of one CZ) month from the date the final notice of the increase in Federal Estate Tax is received. Taxes which became delinquent before January 1, 1982 bear interest at the rate of six (BX) percent per annum calculated at a daily rate of .000160`. All taxes which became delinquent on or after January 1, 1982 will bear interest at a rate which will vary from calendar year to calendar year eith that rate announced by the PA Departs. ant of Revenue. The applicable interest rates for 1982 through Z004 are: Interest Daily Interest Daily Interest Daily Year Rate Factor Yea___r Rate Factor Yea~ Rate Factor 1982 Z07, .000548 1988-1991 117, .000501 2001 92 .00020`7 1983 162 .0000,:58 1992 92 .000247 ZOO2 62 .000160` 1984 117' .000501 1995-1994 77. .000192 2005 S7. .000157 1985 157. . O00'~r;6 1995-1998 97. .000247 2000` 42 .000110 1986 lOX .000274 1999 72 .000192 1987 97. .0002~7 ZOO0 82 .000219 --Interest is calculated as follows: INTEREST = BALANCE OF TAX UNPAID X NUHBER OF DAYS DELIN(~UENT X DAILY INTEREST FACTOR --Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15) days beyond the date of the assessment. If payment is made after the interest computation date shown on the Notice, additional interest suet be calculated. IN RE: : IN THE COURT OF COMMON PLEAS ESTATE OF ALBERTA H. KEEN, : CUMBERLAND COUNTY, PENNSYLVANIA Deceased : ORPHANS' COURT DIVISION UNIFIED CREDIT TRUST UNDER WILL: : NO. 0877 of 2003 WAIVER OF ACCOUNTING~ RECEIPT, RELEASE AND INDEMNIFICATION WHEREAS, Alberta H. Keen (the "Decedent") died on October 3, 2003, leaving a Will which was duly probated by the Register of Wills of Cumberland County, Pennsylvania on October 24, 2003; and WHEREAS, under Decedent's Will, assets valued at $282,458.98, being comprised solely and entirely of 109.949 shares of Class B Non-Voting Common Stock in Keen Transport Company, were distributed to Harold M. Keen and William R. Keen, Co-Trustees of the Unified Credit Trust under ITEM 3 of the Decedent's Will; and WItEREAS, the Unified Credit Trust was for the lifetime benefit of Decedent's surviving husband, Harold M. Keen; and o WHEREAS, Harold M. Keen died December 5, 2004; and t WHEREAS, during the administration of the Unified Credit Trust ergo '~ "~, d5 ~ -..2 ~ .~;~. transactions in the Trust; and -> eo .-~ WHEREAS, the Unified Credit Trust now terminates as a result of the death of Harold M. Keen and the assets remaining in the Trust are distributable to the issue of Alberta H. Keen, namely, Jesse H. Keen, William R. Keen and Elizabeth A. Keen (hereinafter the "Beneficiahes"); and 544690.1 WHEREAS, as a result of the passing of Harold M. Keen, Jesse H. Keen becomes Co-Trustee with William R. Keen (the term "Trustee" herein shall refer to Harold M. Keen, William R. Keen and Jesse H. Keen, as the case may be); and WHEREAS, the Beneficiaries wish to conclude the Unified Credit Trust without an accounting and the Trustees are willing to conclude the Trust upon receipt of an appropriate Waiver of Accounting, Receipt, Release and Indemnification, wNch is the purpose of this instrument. NOW THEREFORE, the Co-Trustees and the Beneficiaries, for themselves, their heirs, administrators and assigns: 1. Request that the Co-Trustees of the Unified Credit Trust distribute to the Beneficiaries, in equal shares, all remaining assets of the Trust. 2. State that they are familiar with the Trust and have been given access to all books and records of the Trust and approve the administration of the Trust in all regards. 3. Waive the filing and auditing of an Account in any Court. 4. Do hereby absolutely and irrevocably release, remise, quitclaim and forever discharge the Co-Trustees, their heirs, successors and assigns, of and from all actions, suits, payments, accounts, reckonings, claims and demands whatsoever for or by reason of the administration and distribution of the Trust, or any other account, matter, cause or thing whatsoever relating to said Trust. -2- 5. Do hereby absolutely and irrevocably release the Co-Trustees from filing any Account, Petition for Distribution or other document with the Court of Common Pleas, Orphans' Court Division, Cumberland County, Pennsylvania, or in any other jurisdiction in connection with said Trust. 6. Do hereby agree that if, at any time in the future, the Co-Trustees receive any demand or claim for any amount claimed to be due and owing from them as Co-Trustees, and approve said demand or claim, the Beneficiaries shall pay to the Co-Trustees the amount of any such demand or claim, or if it has been paid by the Co-Trustees, then reimburse them for the amount paid by them; provided, that the amount of such requested payment or reimbursement shall not exceed the total of the assets paid or distributed by the Co-Trustees to each Beneficiary. 7. Do hereby agree that the Beneficiaries shall indemnify and hold harmless the Trustees to the extent of the assets received by the Beneficiaries from and against any and all claims, loss, liability or damage (including legal fees and costs) that the Co-Trustees may suffer or to which they may be subjected by reason of the administration of the Trust or the distribution of the assets of the Trust to the Beneficiaries without having formal approval by the Court of Common Pleas, Orphans' Court Division, Cumberland County, Pennsylvania, or any other court. This instrument shall be governed by the laws of Pennsylvania and shall be legally binding upon the parties hereto, their heirs, executors, administrators and assigns. IN WITNESS WI-IEREOF, intending to be legally bound hereby, the undersigned have hereunto set their hands and seals as of this ~ day of W~TN~~ William R. Keen Ellen -4- COMMONWEALTH OF PENNSYLVANIA ) ) SS: COUNTY OF ~~~ ) On this, the ~t} day of ~ ~.~ ~ , 200~, before me, a Notary Public, the undersigned officer, personally appeared WILLIAM R. KEEN, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. COMMONWEALTH OF PENNSYLVANIA I Notarial Seal I Robert F. Koller, .Ir., Notary Public .,[ Middlesex Twp., Cumberland County My Commission l~3l~l~fi/anission Expires Feb. 12, 2008 Member, Pe,~nsytver~i~ ~ssociation nf Notaries (SEAL) COMMONWEALTH OF PENNSYLVANIA ) COUNTY OF C,~ ~e,~~ )ss: ) On this, the ~O day of ,200~, before me, a Notary Public, the undersigned officer, personally appeared JESSE Ho KEEN, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Pub ic COMMO~'E4U.m O~ ~ Notarial Seal I Rol~rt F. Koller, Jr., Notary Public M Commis i ~vL:J~id. dlesexTwp.,CumberlandCounty y s on ~,x~a~ommission Expires Feb. 12, 2008 Member, meP'~t-'.~tl~'e?i; ~s~oci~.fion of Notaries (SEAL) COMMONWEALTH OF PENNSYLVANIA ) ) SS: COUNTY OF On this, the 30 day of ~ ,200~, before me, a Notary Public, the undersigned officer, personally appeared ELIZABETH A. KEEN, known to me (or satisfactorily 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. comao~wv.~m O~ I ~o,~i~s~ I ~ / Rol~t F. Kollcr, Ir., ~ot~ Public My Co~ission e.ij~.~cu~d~o [My Co~ission e~xp~res eeo. ~, ~o j Member. P~ "~'~:' "*'~' ~' ~ot: at!on of Notaries (sg~)