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Home My WebLink About12-12-08 (2)IN RE: THE ESTATE OF IN THE COURT OF COMMON PLEAS MARY E. BURDGE, CUMBERLAND COUNTY, PENNSYLVANIA Deceased ORPHANS' COURT DIVISION ,,~, NO. 2008-00305 --~ ``_~-~ ~~ -.. ; _ _ ~.~ ~7 c-i ~ - INSTRUMENT OF DISCLAIMER r:,; , - - -~ ~; -~ . _ THIS INSTRUMENT OF DISCLAIMER, made this /~~r~h day of ~t~t.c~~=~c-~~ ':•' 2008, by Manufacturers and Traders Trust Company, Trustee of the Mary E. Burdge Revoce , ` `Trust, Originally Dated January 31, 1995, as Amended on June 24, 1999, and as Amended and Restated in its Entirety on August 24, 2007, WITNESSETH: WHEREAS, Mary E. Burdge, as settlor (the "Settlor") established The Mary E. Burdge Revocable Trust. (hereafter referred to as the "Trust") on January 31, 1995, with Dauphin Deposit Bank and Trust Company ("Dauphin") as trustee; and WHEREAS, Manufacturers and Traders Trust Company (the "Trustee" or "M&T") is the successor by merger of Dauphin; and WHEREAS, Article III of the Trust Agreement provides that the Settlor reserved the right to alter, amend or revoke the Trust, either in whole or in part; and WHEREAS, on June 24, 1999, pursuant to Article III of the Trust Agreement. the Settlor executed that certain Sole Amendment to provide certain charitable provisions to the Trust: and WHEREAS, on August 24, 2007, the Settlor, pursuant to Article III of the Trust Agreement, again amended the Trust Agreement by restating it in its entirety, by that certain document entitled "The Mary E. Burdge Revocable Trust Originally Dated January 3l, 1995, as Amended on June 24, 1999, and as Amended and Restated in its Entirety on August 24. 2007" (the "Agreement"); and WHEREAS, the Settlor, a widow, died testate on March 14, 2008, and the Register of Wills of Cumberland County County, Pennsylvania, issued Letters Testamentary to Randall D. $urdge and M&'T as co-executors for the administration of the Settlor's probate estate; and WHEREAS, under the Agreement the current and remainder beneficiaries of the Tnist are the Settlor's three (3) surviving adult children, namely, Randall D_ Burdge, Jeremy J. Burdge and Gavin F. Burdge (:collectively, the "Beneficiaries" or individually by their first names); and WHEREAS, the contingent beneficiaries of the Trust are the Mary E. Burdge Charitable Lead Annuity Trust (the "CLAY") as set forth in Article XVI of the Trust, the Mary E. Burdge Charitable Trust (the "Burdge Foundation") and The National Alliance on Mental Illness of Arlington, Virginia ("NAMI"); and WHEREAS, Article VI of the Agreement provides in pertinent part as follows: Upon the Settlor's death the Trustee shall dispose of all property comprising the Trust Estate, together with all property distributable to the Trustee as a result of the Settlor's death, whether by will or otherwise, as follows: A. Disposition ofMoKan, L. P. Units. The Trustee shall divide and distribute any limited partnership units in MoKan, L.P. [as earlier defined], including any interests in any subordinate or successor entity or entities thereof, as follows: 2. Two-thirds (2/3) to the Mary E. Burdge CLAY (as set forth in Article XVI below) subject, nevertheless, to the purchase option set forth in Article XIV below, and to the following alternative disposition in the event of a qualified disclaimer by the Trustee. within nine months from the date of the Settlor's death, the Trustee is authorized, in its sole and absolute discretion, to disclaim all or part of this specific gift to the Mary E. Burdge CLAY. To the extent of such disclaimer, any and all such disclaimed interest in MoKan, L.P. [as earlier defined] shall pass, equally, to the Settlor's children Randall D. Burdge and Jeremy J. Burdge, or otherwise to their respective then-surviving issue, per stirpes, if any. WHEREAS, the Trustee is the trustee of the CLAY in addition to serving as trustee of the Trust; and WHEREAS, the disclaimer described and authorized above is exercisable by the Trustee on or before December 14, 2008; and WHEREAS, the Beneficiaries have informed the Trustee of their desire that the Trustee exercise its discretionary powers so that the CLAY will not be established nor funded; and WHEREAS, the Trustee intends to exercise its discretionary power under Article VI of the Agreement, and pursuant to the Pennsylvania Probate, Estates and Fiduciaries Code, 20 Pa. C.S.A. § 6201-6207, to disclaim all of the above-described specific gift oftwo-thirds (213) of the Trust's interest in Burdge MoKan Partners, L.P., which portion of the Trust's limited partnership -~- interest would otherwise be distributable to the CLAT, as set forth in Article VI, Paragraph A, Subsection 2 of the Agreement; and WHEREAS, Randall and Jeremy desire to evidence their respective and equal acceptance of the above-described two-thirds (2/3) of the Trust's limited partnership interest in Burdge MoKan Partners, L.P., in accordance with the terms of Article VI of the Agreement. NOW THEREFORE, the Trustee, intending to exercise its discretionary powers in the Agreement and intending to be legally bound thereby, does hereby, for itself and for its successors in trust and assigns, exercise the discretionary powers and rights granted to the Trustee under Article VI of the Agreement and also pursuant to Chapter 62 of the Pennsylvania Probate, Estates and Fiduciaries Code, 20 Pa. C.S.A. § 6201-6207, and does hereby disclaim, release and renounce, absolutely and forever, the above-described two-thirds (2/3) of the Trust's limited partnership interest in Burdge MoKan Partners, L.P., which would otherwise pass to the CLAT, so that the same will pass, by default, to Randall and Jeremy, equally, in accordance with Article VI of the Agreement. AND Randall and Jeremy hereby accept the same, for the purposes set forth above. The Trustee intends that this Instrument of Disclaimer shall constitute a '`qualified disclaimer`' under Section 2518 of the Internal Revenue Code of 1986, as amended. IN WITNESS WHEREOF, the Trustee, intending that this Instrument shall be filed of record in the Office of the Register of Wills of Cumberland County, Pennsylvania, has hereunder caused. its duly authorized officer to execute the same on the date first above written. And Randall D. Burdge and Jeremy J. Burdge have executed the Consents attached hereto, which are incorporated herein by this reference. ATTEST: 1 l:: ,~~ .=~~% A557. & 7RU57 (~FF1C~R Title: MANUFACTURERS AND TRADERS TRUST COMPANY, Trustee ,} -; ~~ ~ Joseph A. Macri, ice-President S COMMONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN SS. On this, the ~~~~~~~~~ day of~~;~~~,~~;~~~~~;;~ t , 2008, before me, the undersigned officer, personally appeared JOSEPH A. MAORI, who acknowledged himself to be Vice-President of Manufacturers and Traders Trust Company, and that he, as such officer being authorized to do so, executed the foregoing instrument for the purposes therein contained by sigiung the name of such trust company by himself as such officer. IN WITNESS WHEREOF, I have hereunder set my hand and official seal. Donna ~. , . <:atary F'.~ti;~c Notar Public Ci~ ~ ~~!'tiSf'?iJ~"`, .. .."'i'~.Yl LiCUntV Y Member, Fr-~ ~ ~ s 1"~c~tarie~ -4- IN RE: THE ESTATE OF IN THE COURT OF COMMON PLEAS MARY E. BURDGE, CUMBERLAND COUNTY, PENNSYLVANIA Deceased ORPHANS' LOUR"T DIVISION NO. 2008-00305 CONSENT TO INSTRUMENT OF DISCLAIMER THE UNDERSIGNED, RANDALL D. BURDGE, being one of the specific legatees. and as Co-Executor, of the Estate of Mary E. Burdge, deceased, hereby consents to the Instrument of Disclaimer, for the purposes expressed therein and also acknowledges receipt of a copy of the same. ~~, W~ M~~ ~° RA DALL D. BURDGE ' STATE OF COUNTY C SS. On this, the _~ ~ ~ day of ~ 200, before me, the undersigned officer, personally appeared RANDALL D. BURDGE, 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 as his free and voluntary- act for the purposes expressed therein. IN WITNESS WHEREOF, I have hereunder set my hand and official seal. ~ `c , >~ ~:~ f,N : ; ,, d iy io STATE OF KAhJSAS No ary Public -5- IN RE: THE ESTATE OF IN THE COURT OF COMMON PLEAS MARY E. BURDGE, CUMBERLAND COUNTY, PENNSYL~%ANIA Deceased ORPHANS' COURT DIVISION NO. 2008-00305 CONSENT TO INSTRUMENT OF DISCLAIMER THE tJ1v~DERSIGNED, JEREMY J. BURDGE, being one of the specific legatees, of the Estate of Mary E. Burdge, deceased, hereby consents to the Instrument of Disclaimer, for the purposes expressed therein and also acknowledges receipt of a copy of the same. J EMY J. GE c -'j STATE OF Cf~-r~0 COUNTY OF ~'~~^-'~~-i~~-~ SS. On this, tree `~ day of ~~~~i~~~., 200 ~ ,before me, the undersigned oflicer, personally appeared JEREMY 3. BURDGE, 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 as his free and voluntary act for the purposes expressed therein. IN WITNESS WHEREOF, I have hereunder set my hand and official seal. ~-- ~ j~-~'~n--~~~~~-~'~ -- Nat r Public v ~ ;. ~ ii:~~.~i~~~ ~ _;: ,~~ - . _ _ ~p;R~F MARCH 16,.~/ v ~~~ ~.- -6-