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Home My WebLink About03-0730 Register of Wills of Cumberland County, Pennsylvania PETITION FOR GRANT OF LETTERS Estate of WENDELL K. PASS No.02j....~~..~~""". also known as Late of Silver Sprinq Township. Cumberland County, PA , Deceased Social Security No. 209-32-2684 Petrlioner(s), who is/are 18 years of age or older, apply(les) for: (COMPLETE "A" OR "B" BELOW) .. A. Probate and Grant of Letters and aver that Petitioner( s) is/are the executDL- named in the Last Will of the Decedent. dated Auaust 20. 1985 and codicil(s) dated N/A State relevant circumstances, e.g., renunciation, death of executor. etc. Except as follows, Decedent did not marry. was not divorced, and did not have a child born or adopted after execution of the documents offered for probate; was not the victim of a killing and was never adjudicated incompetent: ~ B. Grant of Letters of Administration (c.t.a., d.b.n.c.t.a.: pendente lite; durante absentia; durante minorttate) 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: I Name Relationship Residence 1 (COMPLETE IN ALL CASES:) Attach additional sheets if necessary. Decedent was domiciled at death in Cumberland County, Pennsylvania, with his last family or principal residence at 42 Woods Drive, Mechanicsburq, Silver Sprina Township, Cumberland County. Pennsvlvania 17050 (list street, number and municipality) Decedent, then.,2L years of age. died Julv 8,2003 ,at Harrisbura Hospital, Dauphin County, PA 17101 (Location) Decedent at death owned property with estimated values as follows: (If domiciled in PAl All personal property ............................................... $ 30,000.00 (If not domiciled in PAl Personal property in Pennsylvania . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (If not domiciled in PAl Personal property in County . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ Value of real estate in Pennsylvania ........................................................... $ 267,000.00 Total ........................................................................... $ 297,000.00 Real Estate situated as follows: Derry Township and Murrysville, Westmoreland County, PA Wherefore, Petitioner(s) respectfully request(s) the probate of the last Will and Codicil(s) presented with this Petition and the grant of letters in the appropriate form to the undersigned: Typed or printed name and residence Anne H. Pass 42 Woods Drive, Mechanicsburg, PA 17050 Fonn RW-1 Page 1 of 2 (Dauphin County - Rev. 9/92) / /) -, /1:<:) 1_5 Oath of Personal Representative Commonwealth of Pennsylvania County of Cumberland The Petitioner(s) above-named swear(s) and affirm(s) that the statements in the foregoing Petition are true and correct to the best of the knowledge and belief of Petitioner(s) and that, as personal representative(s) of the Decedent, Petitioner(s) will well and truly administer the estate according to law. Sworn to and affirmed and subscribed /i1~ ;t!' ~~ b f thO ~i'/' day of AA/AI€- /-1 /9f. :55 e ore me IS . J /, rt.J;-.LJ6!/7~L'<'( / ,2003. , ;().i':?:'~'.t-/ //) (.f!z/, /~z ).:J:/"(' t~/ /;J" ( (/ ~! ('-) A!~r L-~ DECREE OF REGISTER Estate of Wendell K. Pass Deceased N~-t:J$'- ?aD also known as Social Security No: 209-32-2684 Date of Death: July 8.2003 AND NOW, , 2003, in consideration of the Petition on the reverse side hereon, satisfactory proof having been presented before me, IT IS DECREED that Letters. Testamentary 0 of Administration (c.t.a.; d.b.n.c.t.; pendente lite; durante absentia; durante minoritate) are hereby granted to Anne H. Pass in the above estate and that the instrument(s), if any, dated Auaust 20. 1985 described in the Petition be admitted to probate and filed of record as the last Will of Decedent. FEES Letters..................... ...... $~7u,~~ Vli//./cZj)7;;r::ZL), /~15~~~~~(y' . / Short Certificate( s).......... $ 1,,1.00 Registerof~LL<i-j,) fl e. J,./t()q.....e.t/ Renunciation................. . $ I 1...51 Affidavit ( )................. $ . Extra Pages ( ).. .......... $ /2. CcJ CJ '.....'\ Codicil........................ .. $ ...... JCP Fee........................ $ /CJ. ('")~, Attorney: Jeffrev A. Ernico. Esquire Inventory & Tax Forms... $ I.D. No: 07981 Other........................... . $ Address: 3401 North Front Street. P.O. Box 5950 HarrisburQ. PA 17110-0950 TOTAL............... . -<? (')0 Telephone: 717-232-5000 $~//,- DATE FILED: 1~~, zf/],..d~,<:J6:- c;;J/y.23 r Form RW., Page 2 of 2 (Dauphin County - Rev. 9192) 335624 Itll\;' ,Ulc; 1(j.:'V l)iPJ, This is to certify that the information here given is correctly copied from an original certificate of death d}tly filed with me as Local Registrar. The original certificate will be forwarded to the State Vital Records Office for permanent 'filing. WARNING: It is illegal to duplicate this copy by photostat or photograph. fee for this certificate, $2.00 JlrMJ~~~ Local Registrar p 9331335 7'A~ I~ ;NJ1J ~ No. Date ~11r~~ ;HRfil~ 2;87 COMMONWEALTH OF PENNSYLVANIA. OEPARTMENT OF HEALTH' VITAL RECOROS CERTIFICATE OF DEATH ,YPE:PHINl STATE FILE NUMBER 'N "tflMANU'.r t~AME 0F DECEDENT {f,rst. Middle. Lasa) SEX SOCIAL SECURITY NUMBER lllA(;t(.lNK 1. Wendell K. Pass .. Male .. 209 - 32 - AGE il.1SI Bu1Miy) UNOE:R 1 YEAR fNATHPlACE IC.ry and PLACE OF OEAI'H(Chedl 0I"Ily ON -tee'nsIfWoOflSonothetSlOe\ -! 0.,.. StaleOtfore.gnCOUOlryj HOSPITAL: 63 v.. InpIIltenCOD :\1)010 I 5. I COUNTY OF DEATH I .... Dau in White DECEDENT'S USUAL OCCUPR1ON SURVlVING SPOuSE (~~~.:O~::~:r (II Mle. QPA moooeo ~el Administrator DECEDENT'S . ACTUAL DId .... RESIDENCE - 17050 ,... .......... lhIein. on_-. CUmber land _, ... ''Ill. Q''- FATHER'S NAME lAra:. MtOdIlt. LallI 11. wendell T. Pass J INFORMANT'S NAME (T~ Anne H. Pass . Rernowat kom 61...0 . => '" ~ ~ 7b.J NoD H. ,- I '-- : 0f'"IMII and dMIh -th"",IC1 . I .. I I I . I l : . 1 I .1 .----..---.- : j I ..- - -_. wERI AUlOPIY FINlllNOI DATE OF INJURY TIME OF INJURV tNJURYIi.J WORK? .~ .......lA8LE PAIOft TO (MonlhOay. "-arl COMPlETlOH OF CAUSE ~ 0 OF 0ERH1 N...... KomiCGe Ace...... 0 Pendil"lljl ~igatlo., 0 No if 0 o PlACE OF INJURY. AI nome, tann. "'HI. '1ICtOfy. ortlce ... " ....0 NoD """"'" Coutd no! ~ determIned , , buiking. etc. (Speclfyl '-"': .... _. ... .... " CERTIFIERICh<<;lt only ~ .CERTIFYING ~YSICIAN (Phyu:.an ~ cau.. 01 ae..1tl lIo'/'lerl at\OIh.- phyk:'~ hotS prOf'lf:klocect death ana compleltldllem 231 To the bat ot My llnowtecIge, de. ~ due to.... CMlH(.).nd m.nne,.. .I.ted ............ ................................... I ~ .PAONOUNClNQ AND CERTIFVlNG PHyStClAN (PhysIC"" boIh prOOOl.lnclflQ oealh and certll'ylf'lQ 10 cause 01 ~Itll f.J To 1h8..... of.., knowtedge. CIe.lhoccurrad .1.... u.n., del...nd place,.nd due to ttt. cau..(e).nd m.""., e. .1.led.. ' ... .. . . . . . .. . . . . . ... ... ~ Q .UEOtCAl EXAUINaRICORONER 0 On the bul, of e.amlnatlon andIot InvalUg.Uon,ln my opinion. d.ath occurred alth. U~, d.,.. and place, and du.lo Ihe cau"(I).nd ~ mann., u st.,".. ................................,...................,.............. ,., ... ,... ..........,..... .., 31.. ~ Z I~ /L2/,..2I _._-_....__._~.._.. c:J I-CJ3" ~~() .....,. ...... ;-..1 ~\. d '-'" .. (/1 r-q -U I V1 p..... C'J -_r1 --" " . , . ., '. ~,. . . LAST WILL AND TESTAMENT OF WENDELL K. PASS I, WENDELL K. PASS, presently of Silver Spring Township, County of Cumberland, Commonwealth of Pennsylvania, being of sound mind and disposing memory, realizing the uncertainty of this life, do hereby make, publish and declare this to be my Last Will and Testament, revoking any and all previous Wills and Codicils, and hereby will and dispose of all the property which I own at my death in the following manner: I. As Executrix (herein referred to as "Executor") of this my Will I name and nominate my wife, Anne H. Pass1 if she shall for any reason fail or be unable to serve as Executor, either before or dur- ing her service as Executor, then I name and nominate CCNB Bank, N.A., as Executor. II. I direct that my debts and the expenses of my last illness and funeral shall be paid by my Executor as soon after my decease as may be convenient. III. All of my automobiles, household and personal effects and other tangible personalty of like nature, together with insurance thereon, I give to my said wife, if she shall survive me1 but if my wife does not so survive me, then equally to such of my children as so survive me, to be divided among them as they may determine, or, should they be unable to agree, as my Executor may decide. My Ex- ecutor is hereby authorized to make distribution to the personal guar- dian of any of my children who may be minors. IV. I give, devise and bequeath all the residue of my estate, real, personal, and mixed wherever situated, including any property over which I may have any power of appointment, unto the Trustee of the Trust established by that certain Trust Agreement executed August 20 , 1985, by myself as Settlor and naming CCNB Bank, , . .. " N.A., as Trustee to be administered and disposed of as part of the aforesaid Trust as an addition to the principal subject to that Trust Agreement as it exists at my death. v. I give to my Executor, in addition to and not in limitation of common law and statutory powers, all of the powers and discretions given to my said Trustee in the aforesaid Trust Agreement, including amendments thereto, incorporated by reference herein. All such powers and discretions may be exercised by my Trustee or by my Execu- tor without application to any court. In the event said Trust Agree- ment, including any amendments thereto, shall not be in effect at the time of my death, and/or in addition to the powers therein granted I give my Executor the following powers, in addition to powers given by law: A. To retain any investment owned by me at my death. B. To make such investments and reinvestments and in such proportions, without limitation to what are known as legal investments, as shall be considered beneficial to my es- tate, including common and preferred stocks, securities in the corporate fiduciary or in a holding company controlling the corporate fiduciary and common trust funds operated by the corporate fiduciary. c. To (1) participate in any merger or reorganization affecting securities held hereunder at any time; (2) depo- sit stocks under voting agreements; ( 3) exercise any option to subscribe for stocks, bonds or debentures; and ( 4) grant proxies, discretionary or otherwise, to vote shares of stock. D. To manage, operate, repair, alter or improve real estate or other property, and to lease real estate and other property upon such terms and for such periods as my Executor deems advisable. E. To sell (and to grant options for the sale of) any real or personal property at public or private sale for such prices and upon such terms as my Executor considers proper, without liability on the purchasers to see to the applica- tion of the purchase money. F. To borrow money without liability on the part of the lenders to see to the application thereof, and to mortgage or pledge any real or personal property. G. To register securities and other property in the name of a nominee. 2 .' . . . .. . ; H. To make distribution in kind in shares different in kind from other shares, at valuations to be fixed within the sole discretion of my Executor. I. To compromise claims. J. To make partial distribution to any beneficiary under this Will, including the Trustee of the said Trust Agree- ment, including any amendments thereto, mentioned in para- graph IV. of this Will, prior to the final settlement and distribution of my estate. The amounts of such partial dis- tributions, the time or times when they shall be made, and the occasions on which such distribution shall require re- computation of the beneficiaries' proportionate interests hereunder for purposes of equitably allocating income and changing asset values pending final distribution shall be entirely within the discretion of my Executor. K. To determine whether to elect (under Section 2056(b)(7) of the Internal Revenue Code of 1954, as amended, or any corresponding provision of state law) to qualify all or a specific portion of the Trust C property created in Article V of the Trust Agreement between CCNB Bank, N.A., Trustee, and me, Settlor, dated the 20th day of August , 1985, for the Federal Estate Tax Marital Deduction and any marital deduction available under the law of the state in which I am domiciled at the time of my death. I suggest, but do not direct, that in exercising such discretion, my Executor attempt to minimize (or eliminate, if possible) the Federal and State Estate, Inheritance or other death taxes payable by my estate at the time of my death. However, my Executor should also consider the effect of such election upon the Federal and State Estate, Inheri- tance or other death taxes which will be payable by my said wife's estate at her death, particularly if she dies before the election must be made. The decision of my Executor with respect to the exercise of the election shall be final and conclusive upon all persons whose interest in my estate are directly or indirectly affected by the election. VI. I direct that all estate, inheritance and succession taxes, and interest and penalties thereon, which may be due and payable by reason of my death with respect to any property included in my gross estate for tax purposes, whether or not passing under this Will and any Codicil hereto shall be borne by the principal of my residuary es- tate passing under paragraphs IV. hereof, but this direction shall not be construed to detract from the discretionary powers granted to my Trustee under my said Trust Agreement, including any amendments thereto, mentioned in paragraph IV. of this will. In any event, to the extent that taxes are paid from assets held in the said Trust 3 Agreement, the direction contained in this paragraph shall apply only to such taxes as remain unpaid. I further authorize my executor to prepay taxes on future and remainder interests if deemed advisable. VII. In the event an election to do so is provided by law, I direct my Executor to claim any expenses of administration of my es- tate as income tax deductions whenever and to the extent that in my Executor's sole judgment such action will achieve an overall reduc- tion in the income taxes and inheritance, estate and succession taxes for the benefit of my estate and the beneficiaries thereof. I fur- ther direct that no compensating adjustments as between income and principal accounts shall be required or made as a result of such action. VIII. The compensation of the corporate fiduciary shall be in accordance with its standard schedule of fees as shall be in effect from time to time. My individual fiduciary shall receive compensa- tion equal to that received by the corporate fiduciary. IX. If my wife and I shall die leaving a minor child or child- ren, I respectfully request my wife's sister and her husband, Martha H. Swigart and John W. Swigart, Jr., presently of Huntingdon, Pennsyl- vania, to serve as Guardians of the person of any such minor child or children; if they shall for any reason fail or be unable to serve as Guardians of the person of any such minor child or children, either before or during their service as Guardians, then I nominate and name my sister and her husband, Mary L. Andrews and Harry Andrews, present- ly of Okemos, Michigan, to serve as Guardians. X. I appoint CCNB Bank, N.A., as guardian of any property which passes to any minor child with respect to which I am authorized 4 . . .. to appoint a guardian and have not otherwise specifically done so. Such guardian shall have the power to use principal as well as in- come from time to time for the minor's support and welfare and educa- tion, and such guardian shall have the same broad powers and discre- tions as are herein given unto my said Trustee. Said guardian shall not be required to post bond or other security. XI. I direct that no bond or other security be required of my said Executor or Trustee in any jurisdiction in which they or either of them may act. XII. If my wife and I shall die under circumstances that the order of our deaths cannot be determined or established, it shall be conclusively presumed for all purposes of this Will that my wife sur- vived me. IN WITNESS WHEREOF, I have hereunto set my hand and seal this "')--0 day of ~.1 , 1985, to this my Last Will and Testatment typewritten on seven (7 ) sheets of paper (including wit- nesses' signatures). ~tv~A.1 /~ 1?44 (SEAL) WENDELL K. PASS ~, ~ / On the )rJ---day of U4~5? , 1985, WENDELL K. PASS declared unto us, the unde igned, that the foregoing instru- ment was his Last Will and Testament, and he requested us to act as witnesses to the same and to his signature thereon. He thereupon signed this Will in our presence, we all being present at the same time, and we now, on the same date, at his request and in his pres- ence and in the presence of each other, hereunto subscribe our names as witnesses. And each of us declares that he believes this Testa- tor to be f sound mind and memory. ~c9l~ ~,~~u. ~~~ ~\~~a ~A Address ( 5 , . .. .. , , . COMMONWEALTH OF PENNSYLVANIA: ss. COUNTY OF DAUPHIN . . I, WENDELL K. PASS, Testator, whose name is signed to the foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will and Testament; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expressed. ?Jv~/<"~ WENDELL K. PASS Sworn or affirmed to and acknowledged before me, by WENDELL K. PASS, the Testator, this ~ (Jlh dayh of !2uCKkJ/ , 1985. . f' {j;~j ~ 0ifl ''',. ~ ary publ i . .... .' .... (SEAL) My Commission Expires: 'W1T~:I'lV P!)J1LlC My Ce"'''' <.",",o>.IV" ;~'.ry 0(;. 1987 HarLs, ~I~, 1'"., Liuyll.n CuulIty 6 " . . '. . . . " ~ ~ COMMONWEALTH OF PENNSYLVANIA: SSe COUNTY OF DAUPHIN . . _ we.} tilfP) 4- <1-1"/1/((,,> , .} f)J. 'I;, // /Jr:/ yYl and ! I . E f-- /-' j? iL: 1<:> the witnesses whose names are signed to /.- / /}i.f"? , the foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw the Testator sign and execute the instrument as his Last Will and Testament; that he signed willingly and that he executed it as his free and voluntary act for the purposes therein expressed; that each of us in the hear- ing and sight of the Testator signed the will as witnesses; and that to the best of our knowledge the Testator was at that time eighteen (18) or more years of age, of sound mind, and under no constraint or undue influence. Sworn or affirmed to and subscribed to before me. by,<J t 1//; 4. f' 'n;~ 17 , o u r/,lh 4. /)1 "yYl and 1-1111,)(" E. F'';;1'' c Ie.. , ~his /},{)II' day of 4J#4 , 1985. .. (l;~/ -7/ ~~( "NQ ry Publ i C /'/ (// (SEAL) My Commission Expires: N~trJ~Y PUBUC My ['cmmission E.xp:r~s;anuc,ry '?5. 1987 . .',. PA Dau...nin Count~ harr.s"ur ~. 7 ..- l[> co {J\ I ~~ (/1 0') ',~~ p -- , '~.- . -' ;J... ~ 'I t' ... --' '"-.." ! ~t Jl- -t ~t = u f- ~.~ . , ilia ~~ a.: ~ U) cr'- W ~ f-;::: = ~ ..J <t (f).- ~ U ..J f- ~ - I- Z <( ~ . Z <t 0 0. ~ ~ t: t wVlcr' (~ '1" t "'/. \ lL.. >- u. (9 ~ 't'1--'t' ! w cr ~ z I::J ~ l.(l a: f- a craJ ~ o I- 0 ~ ...,....~ ~ 3 U ~ Z ~ ~ - 1'-<( S Z o;I t~~ a:: W N '. . - - CERTIFICATION OF NOTICE UNDER RULE 5.6(a) Name of Decedent: Wendell K. Pass Date of Death: July 8. 2003 Will No. Admin. No. 21-2003-0730 -- . ..--- c: \...,~.; To the Register: (/i j -1 -:.1 I certify that notice of estate administration required by Rule 5.6(a) ~the Orphans' Court Rules was served on or mailed to the following beneficiaries of the ab'ove-captioned estate on September a.?.. 2003 : Name: Address: Anne H. Pass 42 Woods Drive. Mechanicsburg. PA 17050 Karl H. Pass 42 Woods Drive. Mechanicsburg. PA 17050 Laura P. Barry Taliaferro-Cole House. 220 West Duke of Gloucester. Williamsburg. VA 23185 PNC Bank (successor to CCNB Bank. N.A.) Trustee. Wendell K. Pass Trust 4242 Carlisle Pike. Camp Hill. P A 17011 Notice has now been given to all persons entitled thereto under Rule 5.6(a) except: None Date: September .22 . 2003 ~~ ~ Para egal to Jet~Y-A Emico UK! Enclosures cc: Anne H. Pass, Executrix (wi enc.) U~'~\ . . ~ c.. 0'1 ('--I :336502 _I ,., c-r'..... ? -' .- COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES R::,' 'D~PARTMENT28060 1 HARRISBURG, PA 17128-0601 Telephone April 14, 2004 'OLl ,t\PF{ 2.iJ "1 ,,' q (717) 787-3930 FAX (717) 772-0412 Mette, Evans , & Woodside . . 3401 N. Front St .. L'l PO BOX 5950 Harrisburg,PA 17110-0950 Re: Estate of Wendall Pass File Number 2103-0730 Dear Sir/Madam: This is in response to your request for an extension of time to file the Inheritance Tax Return for the above estate. In accordance with Section 2136 (d) of the Inheritance and Estate Tax Act of 1995, the time for filing the return is extended for an additional period of six months. This extension will avoid the imposition of a penalty for failure to make a timely return. However, it does not prevent interest from accruing on any tax remaining unpaid after the delinquent date. The return must be filed with the Register of Wills on or before 10/08/04. Because Section 2136 (d) of the 1995 Act allows for only one extra period of six (6) months, no additional extension( s) will be granted that would exceed the maximum time permitted. Sincerely, Claudia Maffei, Supervisor Document Processing Unit Inheritance Tax Division REV-1500 EX (6-00) OFFICIAl USE ONLY COMMONWEALTH OF REV-1500 PENNSYLVANIA DEPARTMENT OF REVENUE INHERITANCE TAX RETURN FILE NUMBER DEPT. 280601 HARRISBURG, PA 17128-0601 RESIDENT DECEDENT 21 - g,g03 _073!L__ COUNTY CODe YEAR NUMBER DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURITY NUMBER ... Pass, Wendell K. 209-32-2684 Z w DATE OF OEA TH (MM-OD-YEAR) DATE OF BIRTH (MM,OD-YEAR) THIS RETURN MUST BE FIlED IN DUPLICATE WITH THE Q ~ 07/08/2003 08/13/1939 REGISTER OF WILLS (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAl SECURITY NUMBER Q Pass, Anne H. 180-34-7890 I!! [X] 1. Orfgln.,Ratum 0 2. supp~manl.'Ratum 03. Ramatn.arRatum".I'Old..lh Pri~I012"~821 ",:!., 0 0 [X] u lf15 4. L1m... Estat. 4.. Future Int..." ComPromls. (d'l. "d..lh -12.12.82) 5. F".rel E"at. Tax Ratum Raqu... WOO [X] [X] is lfiil 6. O.COd.nl Diad T...... (AI"'h """"WII) 7. O.'...nl M.lnt.'n... LMng Trust (Ah"h "",'''T",,") _ 6. Tot., Numb.,,,s... DepDS' Boxes ~ 0 g. Lltlg..1on p""...s R...... 0 10. SP"'''' PO'AlItyCred. ,..too...... ....... "."." ".".t.", 0 11. EI.,,,on to tax un.., Sac. 9113(A)"",,, ""0' THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHDULI) BE I)'RECTED TO: ... NAME COMPLETE MAILING ADDRESS z w 0 Jeffrey A. Ernico, Esquire z 3401 North Front Street fl FIRM NAME (It Applica~e) ., P.O. Box 5950 ll! Mette, Evans & Woodside 8 TELEPHONE NUMBER HarriSburg, PA 17110-0950 717-232-5000 1. Real Estate (SChedule A) (1) 791 , 666. ;." l:2 OF~~Qs~QNl Y 2. Stocks and Bonds (SChedule B) (2) 3,835. tl = 0.60 0 -t 3. Closely Held Corporlll:lon. Partnership or sore-proprie!:O/'Shlp (3) ~ 4. Mortgages & Notes Receivable (SChedule D) (4) 0.00 CXI 5. Cash, B.,k Daposlts & Miscellaneous Personal Property (5) 73,305.79 :::;; (Sch"uIeE) 1"'_) Z 6. J[j O'M'led Property (Schedule F) (6) 0.00 b-: 0 a, i= Saparate Billing Requested S 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7) 542,407.03 E (SchedUIeG orL) lL 6. T01ll1 Groas Ahets (total lines 1-7) (6) 1,411,215.:10 i1 36,822.50 w 9. FUneral Expenses & Administrative Costs (Schedule H) (9) a: 10. Debts ot DeCedent, Mortgage Liabilities. & Liens (Schedule!) (10) 0.00 11. TotIl Deductions (total lines 9 & 10) (11) 36 , 822.510 12. Nat V.lua or EStllte (line 6 minus line 11) (12) 1,374,392.7p 13. Charitable and Governmental Bequests/See 9113 Trusts forwhfch an alectlon to tax has not been (13) 814,330.6' macte (Schedule J) 14. Net V.lue SUbJactto Tn (line 12 minus Line 13) (14) 560,062.011 SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15. Amount of line 14 taxable at the SPOllI8/ tax 560,062.03 x .00_ (15) 0.00 Z rata, or transfers under Sec. 9116 (a)(1.2) 0 0.00 ;:: 16. Amount of line 14 t8Xllble at lineal rate 0.00 x .045--, (16) ~ :J 17. Amount of line 14 taxable at Sibling rata 0.00 x .12 (17) 0.00 .. :E 0.00 0 0.00 x.15 (16) U lB. Amount of line 14 taxable at collateral rate >< 0.00 ~ 19. Tax Due (19) 20.0 << 1451.000 " Decedent's COlJlplete Address: SlREEfAOORESS 42 Woods Drive CITY J STATE I ZIP Mechanicsburg PA 17050 Tax Payments and Credits: 1. Tax Due (Page 1 line 19) (1) 0.00 2. Credits/Payments A Spousal Poverty Credn 0.00 B, Prior Payments 0.00 C. Discount 0.00 Total Credns (A + 8 + C) (2) 0.00 3. InteresUPenalty if applicable D. Interest 0.00 E. Penany 0.00 TotallnteresllPenany (0 + E) (3) 0.00 4. If line 2 is greater than line 1 + line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund (4) 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 0.00 A Enter the interest on the tax due. (SA) 0.00 8. Enter the total of line 5 + SA This is the BAlANCE DUE. (58) O!.OO Make Check Pa able to: REGlSTEROF II\Il.LS. 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;. . . . . . . . . . . . . . . 0 00 b. retain the right to designate who shall use the property transferred or its income; . 0 00 c. retain a reversionary interest; or ....................... . 0 00 d. receive the promise for life of either payments, benefits or care? . . . . . . . . . 0 00 2. If death oCcurred after December 12. 1962. did decedent transfer property within one year of death without receiving adequate consideration? ........................... . 0 fXJ 3. Did decedent own an -'n trust for" or payable upon dealh bank account or security at his or her death? 0 fXJ 4. Did decedent Own an Individual Retirement Account. annully, or other non-probate property which contains a beneficiary designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [ZJ 0 IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. ""., ,."ltl.. 0' ,.;,,,. I d.".", ".1' h""" ."ml,.. "I. "',"m, I,.""". _m,.,,,,. '''''''1.. "d "".m."., "'d"... be" "my"....... "d ..n.., ". tru., """'" .'d _,I... Declaration of prepar.r other than the person.' repIllS8f1t1li..... Is baaed on all infOl'Tl'lIlUon ofwhich preparer hI' any knowledge. SIGNATURE CF RSON RESPONSI EFO ILlNG RrnJRN &/: DATE /+ Zd?74 PA 17050 EPRESENTATlVE DATE /. ~ . . ox PA 17110-0950 - - For ..1.. of ...th on or .n.r July " 1994 .n. b.fora J.nu." '. 1995, tho tax rat.lmpos.. on tho not valu. oft"n.te", to or rorth. use ofth. ,u""~n. spou'.I, 3% [12 P.S. ~ 9916 (a) (1.1)(1)). .or ..t.. of ...th on or .n.f J.nu.ry " 1995. lh. tax "".'mpo... on the not valu. ofl'.nsfe", to or rorth. use oIth"u""~n. .po".I. 0% [12 P.S. ~ 9116 (.) (1.1) (II)) rho .t.'ut. do.. not .x.mpt . tr.n.t.r to. .u""~n. 'pou.. trom tax. .nd tho ofotuto" r&q'lram.nt. for .I.dosura of ...... .n. '"n.. tax ""um .ra .tlll appllcabl. own It he SUrviving spouse is the only beneficiary. ;or dates Of death on or after July 1, 2000; 'h. tax r.te Impo... on th. not v.,u. of tr.n.f.", from. ..c..... chll. twenty-on. yeo" of ag. Of youn..r ot ....h to or ror tho u.. of. notur.' p.rant, an .doptlva par.nt. r a stepparent Oflhe child 18 0% f72 p,s. 6 9116(8)(1.2)]. h. t.x rot.lmpo... on lh. not valu. 01 t..n.te", to o,rorth. u.a ofth. .....ant..lln..' b.n..d.... I. 4.S%, axcept a. '01" In 72 P.S. ~ 9116(1.2) [12 P.S. ~ 9116(.)(1)). h. t.x rot.lmpo... on th. n.t valu. oIt..n""'to or rorth. u.. oflh. .....ont.a ,Iblln.." 12% (72 P.S. ~ 9116(.)(1.3)). A .Iblln. I' ...n... un..r Sactlon 9102. .. .n Idlviduai Who has at least one parent In common With the decedent, Whether by blQO(j or adOption. 1.000 REV-1502EX + (1-97) SCHEDULE A COMMONWEALTH OF PENNSYLVANIA REAL ESTATE INHERITANCE TAX RETURN RESIDENT DECEDENT I , ESTATE OF FilE NUMBER Pass, Wendell K. 21-2003-0730 All,.., property owned _'y or aa a tenant In common muat be reported at fair market value. Fal, merkel velue Is defined as the pnea at which property would be eXchanged belwaen e willing bu,," and a willing seller, neither being compelled to buy 0' sell, both having reasonable knOWledge of the 18levant facts. Reo' property which Is Jolnijy-awned with I1ghtof survivO"'hlp must be disclosed on Schedule F. ITEM DESCRIPTION VALUE AT DATE NUMBER OF DEATH 1. One-third interest as tenant in common in real estate situate 51,666.67 in Derry Township, Westmoreland County, PA; tax parcel number 45-05-00-0-014. Total appraised value is $155,000.00. See attached appraisal by Hayden Appraisal Services. 2 One-third interest as tenant in common in real estate situate 666,666.67 in the Municipality of Murrysville (formerly Franklin Township), Westmoreland County, PA; tax parcel number 49-15-00-0-140. The value is based on a pending sales contract offer. See attached offer. 3 One-third interest as tenant in common in real estate situate 73,333.33 in the Municipality of Murrysville (formerly Franklin Township), Westmoreland County, PA; tax parcel number 49-15-00-0-247. Total appraised value is $220,000.00. See attached appraisal by Hayden Appraisal Services. TOTAL (Also enter on line 1, Recapitulation) $ 791 666.67 2W46952.ooo (If more space is needed, insert additional sheets of the same size) REV-1503EX.(1_97) SCHEDULE B COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS INHERITANCE TAX RETURN RESIDENT DECEDENT I , ESTATE OF FILE NUMBER Pass, Wendell K. 21-2003-0730 All property jointly-owned with right of survivorship mUlt be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. Prudential common stock 3,835.71 TOTAL (Also enter on line 2, Recapitulation) $ 3, 835!. 71 2W4eee 3.000 (If more space is needed, insert additional sheets of the same size) REV.1500 EX (6-00) OFFICW. USE ONLY COMMONWEALTH OF REV -1500 PENNSYLVANIA DEPARTMENT OF REVENUE INHERITANCE TAX RETURN FILE NUMBER DEPT. 280601 HARRISBURG. PA 17128-0601 RESIDENT DECEDENT 21_ - 2003 ..Jl73lL __ COUNlY CODE YEAR NUMBER DECEDENrS NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURIlY NUMBER !Z Pass, Wendell K, 209-32-26B4 l!l DAle OF DEATH (MM-DD-YEAR) DATE OF BIRTH ( THS RETURN MUST BE FILED IN DUPLlCA TE WITH THE W 07/08/2003 08/13/1939 REGISTER OF WILLS ld (IF APPLICABLE) SURVMNG SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURIlY NUMBER C 180-34-7890 Pass, Anne H. I!! [Z] 1. Original Retum D 2. SupplementalR&l.um D 3. Remainder Retum (dale of daath prior to 12.13-82) ::.:::~U) D 4. limited Estate D 4a. Future Interest Compromise (dale of de.th after 12-12-82) 00 5. Federal Estate Tax Retum Required ,,"" wOo" J:~ ~ 6. Decedent Died Testate (Attech copy oflMlI) 00 7. Decedent Maintained a Living Trust (Att.ch copy of Trult) _ 8. Total Number of Safe Deposit Boxes "Oo Oo o 9. LItigation Proceeds Received D 10. SpOU$81 Poverty Credit {dltl 01 deltll between 12.31-91 IncI 1.1.&5j D 11. Election to tax under Sec. 9113(~)(AtllclISchO) .. I- THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDl!NTIALTNt INFORMATlOllSHOULDBE DIRECTED TO: z NAME COrvtPLETE MAiliNG ADDRESS I!: Jeffrey A. Ernico, Esquire z 3401 North Front Street = FIRM NAME (If Applicable) Mette, Evans & Woodside P.O, Box 5950 ~ TELEPHONE NUMBER Harrisburg, PA 17110-0950 717-232-5000 1. Real Estate (Schedule A) (1) 791,666.~,> ~ OFF~'~~9NLY 2. stocks and Bonds (Schedule B) (2) 3,835,n c:; 0.60 C') 3. Closely Held Corporation, Partnership 01' Sole-Proprietorship (3) -< ~ 4. Mortgages & Notes Receivable (Schedule D) (4) 0,00 CO 5. Cash, Bank Deposits & Miscellaneous Personal Property (5) 73,305.19 :g (Schedule E) [".,) Z 6. JD O'tM'led Property (Schedule F) (6) O.~ .b:"- 0 0'> i= Separate Bitting Requested :5 7. Inter-Vivos Transfers & Miscellaneous Non-Probate property (7) 542,407.03 :;) (Schedule G or L) I- D: 8. Total Gran AHeta (total Lines 1-7) (6) 1,411,2.15.20 c( CJ 36,822.50 w 9. Funeral Expenses & AdminIstrative Costs (Schedule H) (9) a:: 10. Debts of Decedent, Mortgage Ll8bUltles, & Liens (Sc:t1edulel) (10) 0.00 11. TotIl Deductions (total Lines 9 & 10) (11) 36,1l22.50 12. Net V.lue of Estate (Line 8 minus Line 11) (12) 1,374,392.70 13. Charitable and Governmental Bequests/See 9113 Trusts forv.tllch an election to tax has not been (13) 814 , 330 . 67 made (Schedule J) 14. Net V.lue Subject to Tax (Line 12 minus Line 13) (14) 560,Q62.03 SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax 560,062.03 x.OO_(15) 0.00 Z rate, or transfers under Sec. 9116 (a)(1.2) 0 >= 16. Amount of Line 14 taxable at Oneal rate 0.00 x .045--- (16) 0.00 .. I- ::> 0.00 0.00 Oo 17. Amount of line 14 taxable at sibHng rate x .12 (17) .. 0 0.00 ~ " 18. Amount of Line 14 taxable at collateral rate x .15 (16) >< ;!' 19. Tax Due (19) p,OO 20. o CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPA YMENT > >1.10 SIIRE; TO ANs~" ALL QllI$TlotlsotlREvlit!$E$IDEAl!O RECHECK MATH << 2W46451.000 J'- Decedent's ComDlete Address: S1REET ADDRESS 42 Woods Drive CITY 1 STAlE I ZlP Mechanicsbura FA 17050 Tax Payments and Credits: 1. Tax Due (Pege 1 Line 19) (1) 0.00 2. Credits/Payments A Spousal Poverty Credtt 0.00 B. Prior Payments 0.00 C. Discount 0.00 Total Credtts (A + B + C) -(2) 0.00 3. InteresUPenalty if applicable D. Interest 0.00 E. Penalty 0.00 TotallnteresUPenalty (0 + E) .(3) 0.00 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund (4) 5. If Line 1 + Line 3 is greater than Line 2. enter the difference. This is the TAX DUE. (5) 0.00 A. Enter the interest on the tax due. (SA) 0.00 B. Enter the total of Line 5 + SA This is the BALANCE DUE. (5B) 0.00 ~. ....... ~ ---- PLEASE ANSWER THE FOLLOWING QUESTIONS BY PlACING AN "X" IN THE APPROPRIATE BLOCKS 1- Did decedent make a transfer and: Yes No a. retain the use or Income of the property transferred;. . . . . . . . . . . . . . . D [XI b. retain the right to designate who shall use the property transferred or Its Income; . D [XI c. relain a reversionary Interest; or ....................... . D [XI d. receive the promise for life of either payments, benefits or care? . . . . . . . . . D [XI 2. If death occurred after December 12. 1982. did decedent transfer property within one year of death without receiving adequate consideration? ........................... . D [XI 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? D 00 4. Did decedent own an Individual Retirement Account. annuity, or other non-probate property which contains a beneficiary designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IXI D IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RE URN. Under panalties of perjury, I decllre that I hll\lll examined this return, including accompanylnlllChttdule'lnd .Imementa, and to Ihe but of my knowledge an belief, it illNe, correct Ind com leie. Declarltion of preplrlr other than tha personal representative I. baaed on an InfolTnatlon of which preplrer hi' Iny knowledge. SIGNATURE OF RSON RESPONSI EFO lUNG RETURN ~ DATE /-1- ~ AOORESS 00 S r1.ve Mechanicsburg.! FA 17050 SlGNA~~PRESENTAnvE DATE ?"" or ron Street F. O. ~9~U /f"/~~ Harrisburg, FA 17110-0950 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 01' for the use of the survllJing spouse Is $ 172 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 survllJing spouse Is 0% [72 P.S. S 9116 (a) (11.1) (11)] 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 retum are stili applicable even If the surviving spouse Is the only beneficiary. i , 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 adoptlvelp8rent, or a stepparent of the child is 0% [72 P.S. 6 9116(a)(1.2)]. i 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. S 9116(1.2) (72 P.S. 691 r6(8)(1)]. The tax rate im~osed on the net value of transfers to or for the use of the decedent's siblings is 12% (72 P.S. 6 9116(8)(1.3)]. A Sibling Is defined, under Section 9102, as an Individual who 8S at least one parent In common with the decedent, whether by blood Of adoption. 2W46461.000 REV-1502EX + (1-97) SCHEDULE A COMMONWEALTH OF PENNSYLVANIA REAL ESTATE INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Pass, Wendell K. 21-2003-0730 All real property owned solely or as a tenant In common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant fads. Real property which Is Jolntly-owned with r1ghtof survivorship must be disclosed on Schedule F. ITEM DESCRIPTION VALUE AT DATE NUMBER OF DEATH 1. One-third interest as tenant in common in real estate situate 51,666.67 in Derry Township, Westmoreland County, PA; tax parcel number 45-05-00-0-014. Total appraised value is $155,000.00. See attached appraisal by Hayden Appraisal Services. 2 One-third interest as tenant in common in real estate situate 666,666.67 in the Municipality of Murrysville (formerly Franklin Township) , Westmoreland County, PA; tax parcel number 49-15-00-0-140. The value is based on a pending sales contract offer. See attached offer. 3 One-third interest as tenant in common in real estate situate 73,~33,33 in the Municipality of Murrysville (formerly Franklin Township) , Westmoreland County, PA; tax parcel number 49-15-00-0-247. Total appraised value is $220,000.00. See attached appraisal by Hayden Appraisal Services. TOTAL (Also enter on line 1, Recapitulation) $ 791.t66.67 2W46952.0oo (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 Pass, Wendell K. 21-2003-0730 All property jolntly-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER reSCRIPTION OF DEATH 1. Prudential common stock 3,835.71 TOTAL (Also enter on line 2. Recapitulation) $ 3,835.71 2W46963_ooo (If more space is needed, Insert additional sheets of the same size) REV-1508 EX + (1.97) SCHEDULE E COMMONVVEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC. INHERITANCE TAX RETURN PERSONAL PROPERTY RESIDENT DECEDENT ESTATE OF FILE NUMBER Pass, Wendell K. 21-2003-0730 Include the proceeds of litigation and the date the proceeds were received by the estate. All property Jolntly-owned with the right of survlvol'lhlp must be dlecloeed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. 2000 Toyota Sienna XLE 17,655.00 2 Cash distribution owed to decedent's estate from Alice V. Pass 35,541. 23 Estate, File No. 65-02-1462, Westmoreland County, PA 3 Kriebel Gas & Oil - One-third share of value of gas royalties 20,109.56 for wells located on real property in Westmoreland County, PA. See attached valuation letter. , TOTAL IAlso enter on line 5 RecaDilulallonl I. 73,'305.79 2W46AO 2.000 (If more space is needed, insert additional sheets of the same size) REV.1510 EX+ (1-97) SCHEDULE G COMMONWEAL 1H OF PENNSYLVANIA INTER-VIYOS TRANSFERS & INHERITANCE TAX RElURN MISC. NON-PROBATE PROPERTY RESIDENT DECEDENT , ESTATE Of FILE NUMBER Pass, Wendell K. 21-2003-0730 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET 1$ yes. DESCRIPTION OF PROPERTY %OF ITEM t.lCL.UOETHE NAME Of THE "TRANSFEREE, THEIR RELATIONSHIP TO DAlE OF DEATH DECO'S EXCLUSION TAXABLE VALUE NUMSE" DECEDENT ANOTHE~~O:J.~~€slhW:ACH A COPY OF THE VALUE OF ASSET INTEREST /IF APPUCABLE\ 1. Roth IRA, Charles Schwab 66,882.03 100.00 0.00 66,882.03 Account #2070-3178; beneficiary was decedent's spouse 2 State Employees' Retirement 475,525.00 100.00 0.00 475,,525.00 System retirement annuity; survivor annuity with surviving spouse as beneficiary. The surviving spouse's life expectancy is 25.2 years; the monthly annuity payment is $3,100.35. The present value of the survivor annuity is $475,525. See attached correspondence and present value calculation i TOTAL (Also enter on line 7, RecapitulatIon) $ 54J 407.03 (If more space is needed, Insert additional sheets or lame size.) 2W46AF 2.000 REV-1511 EX + (1-97) SCHEDULE H COMMQNVVEAL lH OF PENNSYLVANIA FUNERAL EXPENSES & INHERITANCE TAX RETURN ADMINISTRATIYE COSTS RESIDENT DECEDENT , ESTATE OF FILE NUMBER Pass, Wendell K, 21-2003-0730 Oebts of decedent must be renorted on Schedule 1. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1. Malpezzi Funeral Home 1,686.37 2 Silver Spring Presbyterian Church - cemetery plot 300.00 3 Fees for minister, organist and church custodian 360,00 4 Urn for remains 90.00 5 Funeral meal 400.00 B. ADMINISlRATIVE COSTS: 1. Personal Representative's Commissions 0.00 Name of Personal Representative(s) Social Security Number(s) f EIN Number of Personal Representative(s) Street Address City State Zip Year(s) Commission Paid: 2. Attorney Fees Name: Mette, Evans & Woodside 28,'800.00 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) 3,500.00 Claimant Pass, Anne H. Street Address 42 Woods Drive City Mechanicsburg State PA Zip 17050 Relationship of Claimant to Decedent Spouse 4. Probate Fees 545.00 5. Accountant's Fees 0.00 6. Tax Return Preparer's Fees 0.00 7. Hayden Appraisal Services - real estate appraisal 700.00 8 Cumberland Law Journal - advertise estate notice 75.00 9 Sentinel - advertise estate notice 98.69 10 Garrett Rothman - market analysis 200,00 i Tota~ rrom continua~on pages.... i 0'/.44 TOTAL (Also enter on line 9. Recapitulation) $ 36,822.50 2W46AG 2.000 (If more space Is needed, insert additional sheets of same size) Page 2 Estate of: Pass, Wendell K, 21-2003-0730 Schedule H, Part A -- Funeral Expenses Item No. Description Amount - 6 Guestbook, thank you cards, postage 67.44 TOTAL. (Carry forward to main schedule) 67.44 REV-1513 EX+ (9-00) SCHEDULE J COMMOMl\lEAl TH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RElURN RESIDENT DECEDENT , ESTATE OF FILE NUMBER p~aa Wan"al' K. 21_~nn~_073' RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not L1at Truatee{a) OF ESTATE I. TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1. Pass, Anne H. Spouse 560,062.03 42 Woods Drive Mechanicsburg, PA 17050 ENTER DOLlAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV.1500 CO~ER SHEET II. NON- TAXABLE DISTRIBUTIONS: A SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE 1. Wendell K. Pass Trust B B14 ,330.67 Credit Shelter Trust c/o David A. Brown, PNC Bank 4242 Carlisle Pike Camp Hill, PA 17011 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1- -I TOTAL 01' PART II_ ENTER TOTAL NON,TAXABLE DISTRIBUTIONS ON LINE 13 OF REV.1500 COVER SHEET $ 814,330.67 2W48A11.000 (If more space Is needed, insert additional sheets of the same size) ESTATE OF WENDELL K. PASS CALCULATION OF THE WENDELL K. PASS TRUST B Item IV of the Last Will and Testament of WENDELL K. PASS provides that the residue of his estate pass into trust as established by a Trust Agreement dated August 20, 1985. Article V of the Trust Agreement provides for three trusts to be established. Trust A is intended to bring the surviving spouse's estate to the maximum applicable credit of $1,000,000. Trust A will not be funded. Trust B will hold the amount which can pass free of federal estate tax by reason of the credit. Trust C would receive any excess. Trust C will not be funded. Basis of Calculation All references are to the Federal Estate Tax Schedules Gross Estate 1,690,709.44 Less Property Passin!! to Spouse: Schedule D 74,713.92 Schedule E to Soouse 204,780.32 Schedule F, Item 1 17,655.00 Schedule F. Item 3 66,882.03 Schedule I 475,525.00 Less Deductible Char!!es: Schedule J ( 2,903.81) Remaining Balance of Gross Estate 848,249.36 Less Pennsylvania Inheritance Tax: 0.00 Net to Distribute 848,249.36 Calculation of The Wendell K. Pass Trust B - Credit Shelter Trust Credit Trust (Trust B) . Initial Calculation: Maximum amount sheltered by annlicable credit: 1,000,000.00 Less: Taxable Gifts: 0.00 Less: Schedule E, Part 2 Pronertv 0.00 Subtotal: 1.000,000.00 Plus State Death Tax Shelter Amount: 0.00 Less Pennsylvania Inheritance Tax: 0.00 Wendell K. Pass Trust A - not funded 0.00 Maximum Funding for Trust B: 1,000,000.00 Wendell K. Pass Trust B 848,249,36 Wendell K. Pass Trust C - not funded 0.00 Wendell K. Pass Estate SUDDortine Schedule Pennsylvania Inheritance Tax Return Allocation of Assets to Beneficiaries of Estate Total Gross Assets 1,411,215.20 Less: Schedule H i ( 36,822.50) Less: Schedule I 0.00 Net Value of Estate for Pennsylvania Inheritance Tax purposes 1,374,392.70 Schedule G to SDouse ( 560,062.03) Net to divide in trusts 814,330.67 Wendell K. Pass Trust A - not funded 0.00 Wendell K. Pass Trust B - Credit Shelter Trust 814,330.67 Wendell K. Pass Trust C - not funded 0.00 Pennsvlvania Inheritance Tax Return Calculation of The Wendell K. Pass Trust A The Wendell K. Pass Trust B The Wendell K. Pass Trust C Credit Trust (Trust B) - Initial Calculation Maximum amount sheltered by aDDlicable credit: 1.000,000.00 Less: Taxable Gifts: 0.00 Less: Property joint with Person other than sDouse: 0.00 Subtotal: 1,000,000.00 Plus State Death Tax Shelter Amount: 0.00 Wendell K. Pass Trust A. not funded 0.00 For Pennsylvania Inheritance Tax Purposes: Maximum Funding for 1,000,000.00 Trust B For Pennsylvania Inheritance Tax Pumoses: Wendell K. Pass Trust B 814.330.67 Balance: Wendell K. Pass Trust C - not funded 0.00 408449v1 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPARTMENT 280601 HARRISBURG, PA 17128-0601 Telephone April 14, 2004 (717) 787-3930 FAX (717) 772-0412 Mette ,Evans, & Woodside 3401 N. Front St PO BOX 5950 Harrisburg,PA 17110-0950 Re: Estate of Wenda II Pass File Number 2103,0730 Dear Sir/Madam: This is in response to your request for an extension of time to file the Inheritance Tax Return for the above estate. In accordance with Section 2136 (d) of the Inheritance and Estate Tax Act of 1995, the time for filing the return is extended for an additional period of six months. This extension will avoid the imposition of a penalty for failure to make a timely return. However, it does not prevent interest from accruing on any tax remaining unpaid after the delinquent date. The return must be filed with the Register of Wills on or before 10/08/04. Because Section 2136 (d) of the 1995 Act allows for only one extra period of six (6) months, no additional extension(s) will be granted that would exceed the maximum time permitted. ''; SincerelYcl ~ ~ I .1;;. . tfi..(A.- / 1)(,'<:<;7(-'//'c- " ,/'\ Claudia Maffei, SUPeNj~ot Document Processing Unit Inheritance Tax Division , LAST WILL AND TESTAMENT OF WENDELL K, PASS I, WENDELL K. PASS, presently of Silver Spring Township, County of Cumberland, Commonwealth of Pennsylvania, being of sound mind and disposing memory, realizing the uncertainty of this life, do hereby make, publish and declare this to be my Last Will and Testament, revoking any and all previous Wills and Codicils, and hereby will and dispose of all the property which I own at my death in the following manner: 1. As Executrix (herein referred to as "Executor") of this my will I name and nominate my wife, Anne H. Pass; if she shall for any reason fail or be unable to serve as Executor, either before or dur- ing her service as Executor, then I name and nominate CCNB Ba~k, N.A., as Executor. II . I direct that my debts and the expenses of my last illness and funeral shall be paid by my Executor as soon after my dec+ase as may be convenient. III. All of my automobiles, household and personal effec~s and other tangible personalty of like nature, together with insur~nce thereon, I give to my said wife, if she shall survive me; but' if my wife does not so survive me, then equally to such of my children as so survive me, to be divided among them as they may determinei, or, should they be unable to agree, as my Executor may decide. MY Ex- ecutor is hereby authorized to make distribution to the persolnal guar- dian of any of my children who may be minors. IV, I give, devise and bequeath all the residue of my ~state, real, personal, and mixed wherever situated, including any p~operty over which I may have any power of appointment, unto the Trustee of , the Trust established by that certain Trust Agreement execut~d August 20 , 1985, by myself as Settlor and naming CCNB Bank, . N.A., as Trustee to be administered and disposed of as part of the aforesaid Trust as an addition to the principal subject to that Trust Agreement as it exists at my death. V, I give to my Executor, in addition to and not in limitation of common law and statutory powers, all of the powers and discretions given to my said Trustee in the aforesaid Trust Agreement, inc~uding amendments thereto, incorporated by reference herein. All such powers and discretions may be exercised by my Trustee or by my Execu- tor without application to any court. In the event s.aid Trust Agree- ment, including any amendments thereto, shall not be in effectiat the time of my death, and/or in addition to the powers therein grapted I give my Executor the following powers, in addition to powers g~ven by law: A. To retain any investment owned by me at my death,. B. To make such investments and reinvestments and ~n such proportions, without limitation to what are known a~ legal investments, as shall be considered beneficial to m~ es- tate, including common and preferred stocks, securi~ies in the corporate fiduciary or in a holding company contirolling the corporate fiduciary and common trust funds operated by the corporate fiduciary. c. To (1) participate in any merger or reorganization affecting securities held hereunder at any time; (2j depo- sit stocks under voting agreementsi (3) exercise any option to subscribe for stocks, bonds or debentures; and (~) grant proxies, discretionary or otherwise, to vote shares; of stock. D. To manage, operate, repair, alter or improve re~l estate or other property, and to lease real estate and other property upon such terms and for such periods, as my Executor deems advisable. E. To sell (and to grant options for the sale of) any real or personal property at public or private sale for !such prices and upon such terms as my Executor considers! proper, without liability on the purchasers to see to the aipplica- tion of the purchase money. F. To borrow money without liability on the part qf the lenders to see to the application thereof, and to ~ortgage or pledge any real or personal property. i ! G. To register securities and other property in t~e name of a nominee. ' 2 H. To make distribution in kind in shares different in kind from other shares, at valuations to be fixed within the sole discretion of my Executor. 1. To compromise claims. J, To make partial distribution to any beneficiary under this Will, including the Trustee of the said Trust Agree- ment, including any amendments thereto, mentioned in para- graph IV, of this Will, prior to the final settlement and distribution of my estate. The amounts of such partial dis- tr ibutions, the time or times when they shall be madell and the occasions on which such distribution shall requirle re- computation of the beneficiaries I proportionate interlests hereunder for purposes of equitably allocating income! and changing asset values pending final distribution shall be entirely within the discretion of my Executor. K. To determine whether to elect (under section 205~(b) (7) of the Internal Revenue Code of 1954, as amended, or lany corresponding provision of state law} to qualify allior a specific portion of the Trust C property created in lrticle V of the Trust Agreement between CCNB Bank, N.A., Tr stee, and me, Settlor, dated the 20th day of August , 985, ,,' "" ,,',',' ,,',', ." ",",' ,,,,,,,,. ,., "'1 marital deduction available under the law of the sta e in which I am domiciled at the time of my death. I sug est, but do not direct, that in exercising such discretio , my Executor attempt to minimize (or eliminate, if possi le) the Federal and State Estate, Inheritance or other d~ath taxes payable by my estate at the time of my death. However, my Executor should also consider the effec~ of such election upon the Federal and state Estate, In~eri- tance or other death taxes which will be payable by imy said wife's estate at her death, particularly if she die~ before the election must be made. The decision of my Exec~tor with respect to the exercise of the election shall ~e final and conclusive upon all persons whose interest in my estate are directly or indirectly affected by the election; VI. I direct that all estate, inheritance and successio~ taxes, and interest and penalties thereon, which may be due and paya~le by reason of my death with respect to any property included in mw gross estate for tax purposes, whether or not passing under this Wi~l and any Codicil hereto shall be borne by the principal of my residuary es- tate passing under paragraphs IV. hereof, but this direction ~hall not be construed to detract from the discretionary powers gr~nted to my Trustee under my said Trust Agreement, including any amenqments thereto, mentioned in paragraph IV. of this will. In any ev~nt, to ! the extent that taxes are paid from assets held in the said trust 3 . Agreement, the direction contained in this paragraph shall apply only to such taxes as remain unpaid. I further authorize my executor to prepay taxes on future and remainder interests if deemed advisable. VII. In the event an election to do so is provided by law, I direct my Executor to claim any expenses of administration of my es- ta te as income tax deductions whenever and to the extent that in my Executor's sole judgment such action will achieve an overall reduc- tion in the income taxes and inheritance, estate and succession taxes for the benefit of my estate and the beneficiaries thereof. I fur- ther direct that no compensating adjustments as between income and principal accounts shall be required or made as a result of suth action. VIII. The compensation of the corporate fiduciary shall bei in accordance with its standard schedule of fees as shall be in effect from time to time. My individual fiduciary shall receive com~ensa- tion equal to that received by the corporate fiduciary. IX. If my wife and I shall die leaving a minor child or child- ren, I respectfully request my wife's sister and her husband, Martha H. swigart and John W. swigart, Jr., presently of Huntingdon, pennsyl- vania, to serve as Guardians of the person of any such minor bhild or children; if they shall for any reason fail or be unable to serve as Guardians of the person of any such minor child or children, either before or during their service as Guardiahs, then I nominate iand name my sister and her husband, Mary L. Andrews and Harry Andrews,' present- ly of okemos, Michigan, to serve as Guardians. X. I appoint CCNB Bank, N.A. , as guardian of any prop~rty which passes to any minor child with respect to which I am a~thorized 4 . to appoint a guardian and have no~ otherwise specifically done so. Such guardian shall have the power to use principal as well as in- come from time to time for the minoris support and welfare and educa- tion, and such guardian shall have the same broad powers and discre- tions as are herein given unto my said Trustee. Said guardian shall not be required to post bond or other security. XI. I direct that no bond or other security be required ~f my , , said Executor or Trustee in any jurisdiction in which they or ~ither of them may act. XII. If my wife and I shall die under circumstances that ithe I I order of our deaths cannot be determined or established, it s~all be conclusively presumed for all purposes of this Will that my w4fe sur- vived me. IN WITNESS WHEREOF, I have hereunto set my hand andlseal this ;'-0 day of A-r^-)~.I , 1985, to this my Last Wilt and Testatrnent typewritten on seven (7 ) sheets of paper (includin~ wit- nesses' signatures). ,::::0/ t-v'-#.-iA.J Ie::' UJ4 (SEAL) WENOELL K. PASS /' I ~~ $ , on the )CF---dayof ?<4uS/' ,1985, OELL K. PASS declared unto us, the unde igned, that the foregoing instru- ment was his Last Will and Testament, and he requested act as witnesses to the same and to his signature thereon. He pan signed this Will in our presence, we all being present same t irne , and we now, on the same date, at his request and in hi pres- ence and in the presence of each other, hereunto subscribe 0 r names as witnesses. And each of us declares that he believes this Testa- tor to be f sound mind and memory. I ,jg~\ ~ Q.~,,\\ .., ,,~~) ~\~n\'0Q& ef~ Address \ ( 0 . . COMMONWEALTH OF PENNSYLVANIA: ss. COUNTY OF DAUPHIN : I I I, WENDELL K. PASS, Testator, whose name is signed tp the foregoing instrument, having been duly qualified according to Ilaw, I do hereby acknowledge that I signed and executed the instrumenlt as , my Last Will and Testament; that I signed it willingly: and t~at I , signed it as my free and voluntary act for the purposes there~n expressed. ,. i , HVC/rdP /c'" ;::Z~ WENDELL K. PASS , I i Sworn or affirmed to and acknowledged , ! before me, by WENDELL K. PASS, the Testator, this i4 (jlh dayh of .4v;!fkJ1 , 1985. {J;~j -7! ~ ""'_~P ary Public - ---,' " (SEAL) My commission Expires: ~:nT~,:'";v P\!~UC My Cr:o"""" <' ',1', ~,.,I~~.:; ":-:rv ,;r" 1987 H~rr.S-l.II~, t'" ' L~...~II,n ';Ui,lllly 6 . . COMMONWEALTH OF PENNSYLVANIA: ss. COUNTY OF DAUPHIN : We 'J 1/-/'''' 4. c; ,,"1/' U 'I /1' ;) 1\ and , !,r;ljoo"Y1 . ." ~. .' " ; / l' ; ,r]~,-,> E )-...,J"rll/Jr , the witnesses whose names are signed to the foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw the Testator sign and execute the instrument as his Last Will and Testament; that he signed willingly and that he executed it as his free and voluntary act for the purposes therein expressed; that each of us in the:, hear- ing and sight of the Testator signed the will as witnesses; and that to the best of our knowledge the Testator was at that time eighteen (18) or more years of age, of sound mind, and under no constraint or undue influence. sworn or affirmed to and subscribed to before me by (J; II,,) /1- (,,,;, " , (finlilt. 17 IJ,,,,, and ),/1,)", E h,'7/' (Ie- , ~hiS /},(j'I" day of 4JMII/ , 1985. {] I , ,kdJ P 07( '"N:QJ:.ary publi / (SEAL) My Commission Expires: N01<'8Y PUBLIC " 'wry'll' 1987 My r_rmmiss1on lll-'.!tS;a'll, - . harr,s~'ur;;, PA Dau..I1;[l COIJI1W 7 . TRUST AGREEMENT THIS TRUST AGREEMENT is entered into by WENDELL K. PASS, a resident of cumberland county, pennsylvania, hereinafter referred to as Settlor, and CCNB BANK, N .A., hereinafter referred to as Trustee. ARTICLE I. TRUST ESTATE Transfer to Trust 1.01. The Settlor herewith delivers to the Trustee the life insurance policies, hereinafter referred to as the policies, de- scribed in the attached Schedule A, Such policies and all property hereafter subject to this Trust shall constitute the Trust Estate, and shall be held, managed, administered, and distributed by the Trustee as hereinafter provided. Status of Trustee 1.02. The Settlor has caused or shall cause the Trustee to be named primary beneficiary of the policies, and constitutes Trus- tee custodian of the policies during the life of the Settlor and Trus- tee of both the right to receive the Policy proceeds and the proceeds themselves when receivied. Additional property 1. 03. Any individual may add to this Trust, whether be- fore or after the death of the Settlor, by naming the Trustee benefi- ciary of additional life insurance policies or by transferring to the Trustee other property acceptable to the Trustee, ei ther by gift, assignment, bequest, or devise, and, if so added, such right to re~ ceive additional policy proceeds, and such proceeds when received, and such other property, on receipt and acceptance by the Trustee shall become part of the Trust Estate. ""..._"...,rJC\f$~~~'."""'oJ.,~.___-::lo:::':lZ-~...-..,;~,.........:::;:::;"... ._.......,~.,.,"_,~~"._r:"~.~""""~".--4~".._-_.--"--'---=" " _.~-~. --...-- ,,,-,,",,._-~_........_~_.... ~"-._..._.~._~"--_...-._.- _._._.._-_._._-----.._.,--_.__._._~. .-- ARTICLE II. REVOCATION OF TRUST Revocation Durinq Lifetime 2.0l. During the life of the Settlor, this Trust may be amended', altered, revoked, or terminated, in whole or in part, or any provision hereof, by an instrument in writing signed by the Settlor and delivered to the Trustee; provided, however, that the Trust may not be amended to change the obligations, duties, or rights of the Trustee without the written consent of the Trustee to such amendment. Settlorls Duties on Revocation 2.02. If the entire Trust is revoked by the Settlor, the Trustee shall payor transfer to the Settlor all of the Trust Estate and shall execute and deliver to the Settlor all instruments which are necessary or appropriate to release all interests of the Trustee in the Trust Estate. ARTICLE III. PREMIUMS Payment 3.0l. Notwithstanding any general grant of power to pay premiums, in no event shall the Trustee have a duty to pay, or be liable for the nonpayment of, any premium or asessment on any po,l icy held by it hereunder, whether or not this Trust shall have become irre- vocable and whether or not the Trustee shall have become the owner of the policy. Information 3.02. The Trustee shall not have any duty to keep itself informed, or to inform others, with respect to the payment of any pre- mium or assessment. ARTICLE IV. DISTRIBUTION DURING LIFETIME OF SETTLOR Net Income to Settlor 4.01. At least annually during the life of the SElttlor, the Trustee shall pay all the net income from the Trust Estate; unless otherwise directed by the Settlor in writing, first toward any premium 2 ., -'~.::c::::;:,:,;:-:-"~,,,',:o',:~':"::'... ",,,~~"';;'::.. 7""""-"""7 .7"~O"",:-~",~c,"'F,''''~ e,'..;;,;:,,~d"'.'l'i~~Lt.~ , . ".'1" , . ,"-'- '\;:-,:r:;::,{.:.:_-~~_I~~~~:}LL_'.CJ-~,~'~111tt~r')ft~ .._,.- or assessment on any policy held by it hereunder, and, out of any resi- due, thereafter, pay the Settlor or apply said res idue for the benefi t of the Settlor, Incompetency 4.02. If the Settlor becomes incapacitated through ill- ness, age, or other cause, then such portion of the net income or prin- e ipal of the Trust estate shall be applied towards the support, care, and benefit of the Settlor as the Trustee, in his discretion, shall determine without regard to the Settlor's other means of support. ARTICLE V. DISTRIBUTION AFTER THE DEATH OF THE SETTLOR prior Death of Settlorls wife 5,Ol. If Anne H. Pass, the wife of Settlor, does not survive the Settlor, the entire Trust estate shall be held, adminis- tered, and distributed in accordance with the terms and provisions applicable to Trust B as provided in this Article V. Division into Three Separate Trusts 5.02. On the death of the Settlor, if the Wife of the Settlor is then living, the Trust Estate shall be divided into as many as three separate Trusts, hereinafter referred to as Trust A, Trust B and Trust C. First, Trust A shall consist of the assets selected by the Trustee after considering the value of all of the assets owned by Settlor's Wife together with the value of any additional assets which, by reason of the dea th of the Settlor, will be added to the estate of Settlorls wife which will not exceed, when added to all of the other assets of Settlorls wife, a sum equal to the dollar amount, if any, wh i ch can pass (at the time of designation of this Trust A by Trustee or the date of death of settlor's Wife, whichever shall first occur) free of Federal Estate Tax in the estate of Settlor's wife by reason of the unified credit against Federal Estate Tax allowable to 5 et t- lorls Wife's estate. 5 econd , Trust B shall consist of assets selected by the Trustee which can pass free of Federal Estate Tax in the estate 3 " "~,. ...__ ", ,. .~.""",, ./I>o,...."ri~._'.t..>,."...., ,,"fl, .'., ,l. .~.~..,'~'~ . ~'"" _<"".... ...". """,.,""",.", ,,"'~"" .,..",..""".,I...,..".,,,,,,,":'.,~,,."^"". ,....~"'~;w.;.~".,:,,~_.._,"" r ~.';~- .:.~.:. _':...a_:.~:;':"'::.:" - n' - ., of Settlor by reason of the unified credit against Federal Estate Tax allowable to Settlor's estate. Third, Trust C shall consist of all the remaining assets of the Trust. The assets of Trust C shall be sub- ject to further allocation between Trust B and Trust C as follows: To Trust C to the extent that such allocation is necessary upon an elec- tion by the Executor of settlor's estate to qualify all or a specific portion of Trust C for the Federal Estate Tax Marital Deduction and any marital deduction available under the law of the state in which the Settlor is domiciled at the time of his death. Settlor hereby sug- gests, but does not direct, that in exercising such discretion, his Executor shall attempt to minimize (or eliminate, if possible) the Federal and state Estate, Inheritance, or death taxes payable by Sett- lor's estate at the time of his death. However, settlor's Executor should also consider the effect of such election upon the Federal and State Estate, Inheritance or other death taxes which may be payable by Settlor's wife's estate at her death, particularly if she dies before the election of settlor's Executor must be made. The decision of Sett- lor's Executor with respect to the exercise of the election shall be final and conclusive upon all persons whose interests in Settlor's estate are directly or indirectly affected by the election. Any funds or portions of the Trust Estate not so elected by the settlor's said Executor, shall, at the discretion of the Trustee, remain in Trust C or be designated as a part of the assets of Trust B. Trustee shall provide settlor's Wife with written notice of any portion of Trust C which is ultimately designated by Trustee, hereunder, to be a part of Trust B. provided, further, in the event settlor's wife shall dis- claim any of the rights or assets to which she might otherwise be en- titled by this paragraph 5.02, such assets shall become a part of Trust B. I " 4 I ~."....~~~~ , ..,...-, Distributions From Trust A 5.03. Trust A shall be held, administered, and distri- buted as follows: Income Payments (1) The Trustee shall pay to or apply for the benefit of the Wife of settlor, Anne H. Pass, from the date of the settlor IS death, during her lifetime, all of the net income of Trust A in month- ly or in other convenient installments, but in no event less often than annually. principal payments (2 ) If at any time in the discretion of the 'lrustee the Wife of the Settlor should be in need of additional funds for her proper care, maintenance and support, the Trustee, in addition to the income payments hereinabove provided, shall in his discretion pay to or apply for the benefit of the Wife of the Settlor such amount. from the principal of Trust A, up to the whole thereof, as the Trustee from time to time deems advisable. withdrawal of principal (3 ) The Wife of the Settlor shall have the right, from time to time, to direct the Trustee in writing to pay to her or to apply for her benefit such amounts from or portions of the principal of Trust A, up to the whole thereof, as she may designate. The Trus- tee shall comply with any such written directions and shall have no responsibility whatsoever to inquire into or determine for what pur- pose any such withdrawals are made. Distribution on Death of Settlor's wife (4 ) On the death of the wife of the Settlor, the Trus- tee shall distribute the balance of the Trust Estate of Trust A, in- cluding all principal and any accrued or undistributed income, to such person or persons, including her estate, the creditors of her estate, or the creditors of the Wife of the Settlor, as she shall appoipt. This power of appointment is exercisable by the Wife of the Settlor " 5 alone and in all events. The appointment shall be in the amounts or proportions and on the terms and conditions, either outright or in Trust, as the Wife of the Settlor shall appoint in her last Will duly admitted to probate and specifically referring to and exercising this power of appointment, whether or not her will is executed before or after the death of the Settlor. Before distributing the aforesaid balance of the Trust Estate, the Trustee shall pay any Inheritance, Estate, or other death taxes that may be due by reason of the death of the wife of the Settlor in connection with her interest in the Trust Estate of Trust A, If there should be a failure to dispose of all or any portion of the Trust Estate of Trust A, either in connection with the exercise or as a result of the nonexercise of the aforesaid gen- eral power of appointment, all of the Trust Estate not so disposed of shall be distributed by the Trustee to Trust B provided herein,. Distribution from Trust B 5.04. Trust B shall be held, administered, and dis- tributed as follows: Income payments (1) During the lifetime of the Wife of the Settlor, Trustee shall pay so much of the net income of Trust B as he may deem necessary and appropriate to fulfill the purposes of this Trust as is more specifically set forth in paragraph 5.04(2) of this agreement. Principal payments (2 ) Trustee may distribute to the wife of Settlor such amounts from the principal of Trust B, up to the whole thereof, as the Trustee, in its discretion, shall deem necessary or advisable to pro- vide for the care, maintenance, and support of the Wife of the Sett- lor, and so as to support Settlor's wife in her accustomed manner of living. provided, however, Trustee shall consider any other sources of income available to Settlor's said wife when making payment to her hereunder. Trustee shall, when requested in writing by settlor's 6 - <!o~N...I!Il.."~ -. ._~.~ ..-" ..~. ...~""_. ..._. . ,_e__'_ ....~.-~-". . .....v.'.. .".."",,,-~r wife, pay five percent of the principal or $5,000.00, whichever amount is greater, annually to Settlor's said wife during her li f etime. This limited right to make withdrawals from the principal of the Trust Estate is noncumulativer 50 that an amount which might have been with- drawn during a particular year may not be withdrawn in any subsequent year. In addition, the Trustee, in its sole discretion, may distri- bute principal among the Settlor's ch ildr en as Trustee may determine important and proper for said children's comfort, maintenance, sup- port, education and general welfare. The said payments to settlor's said children shall only be made by Trustee so long as said ch ildren are dependent upon settlor's said wife whether they are minors or adults. Division into Shares on Death of Settlor's Wife (3 ) On the dea th of the survivor of the Settlor or his Wife, the Trustee shall continue the said Trust for the benefit of the Settlor's children (and the term "Settlor's children" shall mean his daughter, Laura E. Pass, and his son, Karl H, pass, and any other child or children who might hereafter be born and/or adopted unto the said Settlor). Settlor hereby grants a Special power of Appointment to his said Wife, in the even t she shall survive Settlor, to order the distribution of the said Trust estate to Settlor's said ch ildren as Settlor 1 s Wife may appoint by a will specifically referring tCl> this power of Appointment, in whatever shares Settlor's said Wife may deem appropriate; and the said Trustee shall hold, invest and reinvest, collect the income therefrom, pay all taxes and other charges that may be made properly against the said Trust Estate, and distribute the income and principal thereof as follows, if the above special power of APpointment of Settlor's Wife has not been exercised or has been exer- cised as to less than all of the then assets of this Trust: ( a) During the period of said Trust for said beneficiaries, Trustee shall apply 50 much of the principal and income of the said Trust as is, in the sole discretion of Trustee, necessary for the benefit, support, maintenance an:d educa- tion of said beneficiaries. 7 ,~ ._,~"._.""""",_~...#,..qUl ...=c~i#:~'~,~L iir],) \ ..' _... .,...." .,..... - .'"~-, .. _ ".,'. "'~'.". ~.,_... _~._~.~,",._.~.,.,..,..~,..."b" ,.,.,,"'1 _."'~_"'~",'~"l"oi!+_""""'>7i"'~ (b) Trustee shall divide the balance of accumulated income and principal of said Trust into as many equal shares as there are then living children of Settlor or issue of a de- ceased child of Settlor so that Trustee shall have divided the said balance of the said Trust Estate into as many I shares as there are children of Settlor represented either \ by themselves or by their issue then living. nus tee shall continue to hold the said Trust shares, in Trust, for the I purposes set forth in paragraph 3(a) hereof. ( c) Trustee shall distribute the principal and accumulated income to any of Settlor's children who are beneficiaries of such separate Trusts, as follows: (1) one-third of the bal- ance of said Trust when said child attains the age of 21 years, (2 ) one-half of the remaining balance of said Trust when said child attains the age of 25 years, and ( 3) the re- maining balance of the said Trust when said beneficiary attains the age of 28 years. (d) If, upon the death of Settlor and his said wife, any of Settlor's children shall have died, or shall die at any time before or during the continuance of any Trusts created here- in, leaving issue then surviving, the principal and accumu- lated income, if any, of the Trust for said child shall be paid over to his or her said issue per stirpes, provided, however, that if any of said issue be under the age of 2l years, Trustee shall apply the income and principal of their respective shares, in Trustee's sole discretion, for the benefit, support, maintenance and education of such issue, without the intervention of a guardian. Upon attaining the age of 21 years, Trustee shall distribute the balance of the share of any such beneficiary to the beneficiary. ( e) If any of settlor's children shall die at any time dur~ ing the continuance of this said Trust, leaving no issue then surviving, the principal and accumulated income, if any, of this said Trust for Settlor's said child shall be maintained by Trustee, in Trust, for the benefit of Sett- lor's surviving child or children, or their issue, subject, nevertheless, to the provisions hereinabove. (f) If all of the children of the settlor and their issue should die prior to final distribution of the Trust Estate, all of the Trust Estate not disposed of as hereinabove pro- vided shall be distributed as follows: ( i) $5,000.00 to the Silver Spring presbyterian Church of Mechanicsburg, pennsylvania. (iil $5,000.00 to the Cumberland County Historical Society to be used in its Endowment Fund. ( ii i) One-half of the residue to the sister of Settlor's wife, Martha H, Swigart, presently of Huntingdon, pennsylvania. ( iv) One-half of the residue to the persons who would then be the heirs of the Settlor, the identi- ties and respective shares of the aforesaid hei~s to be determined as if the Settlor and his said wife had then died intestate, not married, and in ac.cord- ance with the laws of the commonwealth of p~nnsyl- vania then in effect relating to the succession of separate property. .~ \ , 8 ",.......,...." - Spendthrift Provision ( 4) No principal or income payable or to become pay- able under this Trust shall be subject to anticipation or assignment by any beneficiary thereof or to attachment by or to the interference or control of any creditor of any such beneficiary, or be taken or reached by any legal or equitable process in satisfaction of any debt or liability of such beneficiary prior to its actual receipt by the beneficiary. Termination (5 ) If at any time the Trustee, in its discretion, deems the best interests of an Income Beneficiary to be best served by dis- tribution to him or her of the entire principal of the share or sub- share then held for him or her, due to the small size thereof or for any other reason, the Trustee may convey, transfer, and pay over the same to such beneficiary, absolutely and free of trust. Definitions (6 ) As used in this Trust Agreement, the following terms are defined as follows: (al All references to the "Trustll or the nTrust Estate", unless otherwise specifically provided for herein, refer to each of the separate Trusts herein provided for, respec- tively, and the Trust Estate of each Trust. (bl The term "education" includes both post highschool, trade school education, college and postgraduate study at any educational institution of the beneficiary's choice for any period of time that, in the judgment of the Trustee, is advantageous to the beneficiary concerned; the Trustee shall provide adequate amounts for all related living and travel expenses of the beneficiary within reasonable limits. other Resources (7 ) The Trustee, in exercising its discretionary author ity with respect to the payment of income or principal of the Trust Estate to any beneficiary, shall take into consideration any in- come or other resources available to such beneficiary from sources out- side of this Trust that may be known to the Trustee. The Trust.::-e may accept as final and conclusive the written statement of the benefi- ciary receiving payment as to other available income or reSources. The determination of the Trustee with respect to the advisability of mak- Q 'H ',,' ing payments out of principal to any beneficiary shall be conclusive on all persons howsoever interested in the Trust. Incapacity of Beneficiaries 18 ) In the event that any beneficiary or legatee of any Trust Estate, by reason of illness, age, incapacity or other cause, shall, in Trustee1s opinion, be unable properly to receive and disburse the income or principal to which he may be entitled, then Trustee, in its sole discretion, shall pay and apply the income and principal due such beneficiary or legatee to his comfortable main- tenance and support, without the intervention of any guardian or com- mittee and without being required to apply to any Court for leave to make such payments. The powers exercised under this provision shall rest solely in the discretion of Trustee. Support of Guardian (9 ) The aforesaid payments for the care, support, main- tenance, and education of each of the aforesaid beneficiaries may, in the discretion of the Trustee, include contributions for the care, sup- port, maintenance, and education of the guardian of the person of such beneficiary and also of the guardian's spouse and children. Payment of Undistributed Income (10 ) On the termination of any interest in this Trust, all undistributed income in the han"ds of the Trustee shall be paid to the person or persons next entitled to income by the terms of this Trust Agreement. Trust C Administration and Distribution 5.05. Any assets used to fund Trust C, as created by paragraph 5.02 of this Trust Agreement, shall be held, administered and distributed as follows: .. 10 1 ,."".. ,.,__..,;...."._........,.,~.."..".,"""".." .,.."'~.."."."....",,.,...""'. ....-....1.'......"~"!~ \ Income Payments I 1 ( 1) During the lifetime of the Wife of the Settlor, Trustee shall pay to Settlorls wife the net income of Trust C in con- I I venient installments at least quarter-annually. I principal payments (2 ) Trustee may distribute to the Wife of the Settlor such amounts from the principal of Trust C as the Trustee, in its dis- cretion, shall deem necessary or advisable to provide for the care, maintenance, and support of the Wife of Settlor, and so as to support Settlor's wife in her accustomed manner of living. payment of Taxes Relatinq to Trust C (3 ) Upon the death of Settlor's wife, Trustee shall pay to the Executor of Settlor's Wife's estate, out of the principal of Trust C, an amount equal to the Estate, Inheritance, Transfer, Suc- cession or other death taxes (death taxes) Federal, State and other, payable by reason of the inclusion of the value of the Trust C pro- perty in her estate. Such payments shall be equal to the amount by which (a) the total of such death taxes paid by the wife's estate ex- ceeds (b) the total death taxes which would have been payable if the value of the Trust property had not been included in her estate. The determination of the wife's Executor(s) of the amount payable here- under shall be final; the Trustee shall pay such amount promptly upon written request of the wife's Executor(s). The Settlor's Wife may waive her estate's right to payment under this subparagraph by a Will in which she specifically refers to the right to payment hereby given to her estate. Distribution Upon Death of Settlor's Wife (4 ) On the event of the death of Settlor'S Wife, the Trus- tee shall make division and distribution of the remaining funds in Trust C in accordance with the terms and provisions of paragraph 5,04(3) of the said Trust Agreement. Such distribution shall continue " \ 11 , '1 "..,~.' ., "'~.._".".,- ..,. ..""-.,,. e.. ,,-,,--,."'" ..,~.-.,' > ,."<' ' -",-,,, ~. " .~..."._~..~~_.......;i;..........~~...~::;;...:.;;....;.~..,...."",,~iIr,,""'IIjl'l>'~J~""'''''''''''''''~">"1'''''''''~':''.'~ to allow the Wife of Settlor to have a Special power of Appointment as 1 is provided in said paragraph 5,04(3) of the Trust Agreement. j i Miscellaneous Provisions 1 j (5 ) All of the provisions of paragraph 5.04(4) through I I 1 and including (10) , to the extent they may be applicable to the admin- , istration of Trust C, shall be available to the Trustee and applicable j l to the administration of Trust c. 1 ARTICLE VI. POWERS OF TRUSTEE , I Description of Powers 6.0l. In order to carry out the purposes of this Trust Agreement, the Trustee, in addition to all other powers granted by law, shall have the following powers and discretion: Retain Assets (1 ) To continue to hold any and all property received by the Trustee or subsequently added to the Trust Estate or acquired pursuant to proper authority, including shares of Trustee's own stock and stock in any corporation controlling, controlled by, or under com- mon control with the Trustee, if and as long as the Trustee, in ex- ercising reasonable prudence, discretion, and intelligence, considers that the retention is in the best interests of the Trust; provided, however, that non income-producing or unproductive property shall not be retained as an asset of the Trust for more than a reasonable time during the lifetime of the Wife of the Settlor, without the written consent of the Wife of the Settlor. Investments (2 ) To invest and reinvest in every kind of property, real, personal, or mixed, and every kind of investment, specif ically including, but not by way of limitation, corporate obligations of every kind, and stocks, preferred or common, which men of prudence, discretion, and intelligence acquire for their own accounts. 12 \1 '~'"'''''"'....>''' -.-.....-,.- ",,,,,-.- . ,~_'"_,__.,.__.~_..'_.".___. ._...,...,_........,.,..,."'..'.'~' .;>""",.."w.._~,"~",r~ i. Manaqement of Securities (3 ) To exercise, respecting securities held in the Trust Estate, all the rights, powers, and privileges of an owner, including, but not limited to, the power to vote, give proxies, and to pay assessments and other sums deemed by the Trustee necessary for the protection of the Trust Estate; to participate in voting trusts, pool- ing agreements, foreclosures, reorganizations, consolidations, mer- gers, and liquidations, and in connection therewith to deposit securi- ties with and transfer title to any protective or other committee under such terms as the Trustee may deem advisable; to exercise or sell stock subscription or conversion rights; to accept and retain as an investment any securities or other property received through the exercise of any of the foregoing powers, regardless of any limitations elsewhere in this instrument relative to investments by the Trustee. Form of Ownership of Trust Property ( 4) To hold securities or other Trust property in the name of the Trustee as Trustee under this Trust Agreement or in the Trusteets own name or in the name of a nominee or in such conditions where ownership will pass by delivery. Business Interests (5 ) To continue and operate, to sell Dr to liquidate, as the Trustee deems advisable at the risk of the Trust Estate, any business or partnership interests received by the Trust Estate; pro- vided, however, that a nonincorne-producing or unproductive business or partnership interest shall not be held as an asset of the Trust for more than a reasonable time. during the 1 if etime of the Wife of the Settlor without the written consent of the Wife of the Settlor. Sell and Exchanqe (6 ) To sell for cash or upon such terms and cond i- tions (as to credit or otherwise) as the Trustee may deem appropriate, at public or private sale, to exchange, and to convey any prope't"ty of the Trust Estate. 13 \--~-_. ~..,,'- " ,"-, ,-'''' ~ ......-....,.,"',... '''~_'';''H,""""""",;""_~,_~,,,,,,,,,,_~,,,,,,,,,,,,,~,,,,'''''''''''_._''-''''''''~'~~'lI~.t~~ Division of Trust Estate i (7 ) On division of the Trust Estate into separate i any 1 I shares or Trusts, to apportion and allocate the assets of the Trust ! i Estate in cash or in kind, or partly in cash and partly in kind, or in j I undivided interests in the manner deemed advisable in the discretion , i I of the Trusteej after any division of the Trust Estate, the Trustee j i with funds the several i may make joint investments from some or all of I shares of Trusts, but the Trustee shall keep separate accounts for J ; each share or Trust, 1 Abandonment of Trust Assets , in (8 ) To abandon any Trust asset or interest therein the discretion of the Trustee, opt ion (9 ) To grant an option involving disposition of a Trust asset and to take an option for the acquisition of any asset by the Trust Estate. Lease (10 ) To lease any real or personal property of the Trust Estate for any purpose for terms within or extending beyond the , duration of the Trust. t ~ property Manaqement , , (11) To manage, control, improve, and repair real and , ! personal property belonging to the Trust Estate. ) Development of property (12 ) To partition, divide, subdivide, assign, develop, and improve any Trust property; to engage in representations before public real estate authorities; to adjust boundaries or to adjust differences in valuation on exchange or partition by giving or receiv- ing consideration; and to dedicate land or easements to public use ;i with or without consideration. " 14 ..,..-- , - .,_..~...,,- ..-,'-....- ,,,,'~-' ..' .. _....., _ '" .~. "."".'."-'H~",,,,........",~,-~...,,;,,,,,,~,,,,,,,,,,,_,,""-'",,,,",.,_'.-'~I"'''',...."'.',__".~'"'...".'_IIIII<l""" Repair, Alter, Demolish, and Erect (13) To make ordinary and extraordinary repairs and , 1 i alterations in buildings or other Trust property, to demolish any im- \ provements, to raze party walls or buildings, and to erect new party I walls or buildings as the Trustee deems advisable. i I Borrowinq and Encumberinq 1 I (14) To borrow money for any Trust purpose from any per- son, firm, or corporation, including one acting as Trustee hereunder ( I on the terms and conditions deemed appropriate by the Trustee and to obligate the Trust Estate for repaymenti to encumber, the Trust Estate 1 1 1 or any of its property by mortgage, deed of Trust, pledge, or other- wise, using whatever procedures to consummate the transaction deemed i j advisable by the Trustee; to replace, renew, and extend any encum- I brance and to pay loans or other obligations of the Trust Estate deemed advisable by the Trustee. Natural Resources (15) To enter into oil, gas, liquid or gaseoUS hydro- carbon, sulphur, metal and any and all other natural resource leases on terms deemed advisable by the Trustee, and to enter into any pool- ing, unitization, repressurization, community, and other types of t agreements relating to the exploration, development, operation, and I 1 conservation of properties containing minerals or other natural re- " 1. sources; to drill, mine, and otherwise operate for the development of oil, gas, and other minerals; to contract for the installation and operation of absorption and repressuring plants; and to install and maintain pipelines. Insurance (16 ) To procure and carry at the expense of the Trust , Estate insurance of the kinds, forms, and amounts deemed advisable by the Trustee to protect the Trust Estate and the Trustee against any hazard. ., 15 I ....~.,^'..~.,.. ....... .- - ''',''~ "W." ",__..,~.' . ,", _'. ~<, ~.~.," "wi' ~""'~"'., ..;;"".,;...;.:l;,;...."Il.f;.'...";.;,,...;.-'...~.:.......~.....,IO'li'.........~-"~.......~~...~~_.''''\~ Enforcement of Hypothecations (17 ) To enforce any mortgage or other real or personal property security interest held by the Trust Estate and to purchase at any sale thereunder any property subject to any such hypothecation, Extending rrirne of Payment of Obliqations (18 ) To extend the time of payment of any note or other obligation held in the Trust Estate, including accrued or future in- terests, in the discretion of the Trustee. Ad-justment of Claim (19 ) To compromise, submi t to arbitration, release with or without consideration, or otherwise adjust claims in favor of or against the Trust Estate. Litiqation (20 ) To commence or defend at the expense of the Trust Estate any litigation affecting the Trust or any property of the es- tate deemed advisable by the Trustee. Administration Expenses (21) To pay all taxes, assessments, compensation of the Trustee, and all other expenses incurred in the collection- , care, administration, and protection of the Trust Estate. Employment of Attorneys, Advisers, and other Aqents (22 ) To employ any attorney, investment adviser, accountant, broker, tax specialist, or any other agent deemed neces- sary in the discretion of the Trustee; and to pay from the Trust Estate reasonable compensation for all services perf ormed by any of them. Loans (23 ) To make loans, secured or unsecured, in such amounts, upon such terms, at such rates of interest, and to such per- sons, firms, or corporations as Trustee shall think fit. ..' ;1 16 Distribution (24) on any partial or final distribution of the Trust Estate, to apportion and allocate the assets of the Trust Estate in cash or in kind, partly in cash and partly in kind, or in undivided in- terests in the manner deemed advisable at the discretion of the Trus- tee and to sell any property deemed necessary by the Trustee to make the distribution. Nonincome-producinq or Unproductive Asset (25) If the Wife of the Settlor or any other bene- ficiary or guardian of any beneficiary of any Trust created in this Agreement shall, by written instrument delivered to the Trustee, direct the Trustee to convert any nonincorne-producing or unproductive asset held in the Trust Estate to income-producing property, the Trus- tee shall, within a reasonable time after its receipt, comply with the direction. Employee Benefit Plans (26) Trustee shall use its discretion to elect the most propitious settlement option with regard to any qualified employee benefit plans available to Settlor at the time of his death so long as such election shall be in accordance with the Plan's Administrative Committee or Administrator, as the case may be. General (27) To do all the acts, to take all the proceedings, and to exercise all the rights, powers and privileges which an abso- lute owner of the property would have, subject always to the discharge of his fiduciary obligations; the enumeration of certain powers in the Trust Agreement shall not limit the general or implied powers of the Trustee; the Trustee shall have all additional powers that may now or hereafter be conferred on him by law or that may be necessary to en- able the Trustee to administer the Trust in accordance with the provi- sions of this Trust Agreement, subject to any limitations specified in this Trust Agreement. 17 '- .. .;:""~it;;i': :2-:'" -:~,,,~\;~~:z;~I{i1_ .,,,.,. " ...,.... ' ,,,-,.,..,,.,, ,,,,,,~,,,,,,~;,,""'''''''''''~''''~'- Settlement of Settlor's Estate 6.02, subject to the provisions of paragraph 6 . 03 Trus- tee shall have the power, but not the duty, upon Settlor's dea th , to make such expenditures out of the principal of the Trust as Trustee may think desirable in order to facilitate the settlement of settlor's estate. In exercising such power, Trustee may pay, in part or in whole, any or all of the following items: the expenses of settlor's last illness and burial, his debts, income taxes owed by him, any or all death taxes and interest and penalties thereon, and the expenses of administering Settlor's estate. Any such items may be paid direct- ly by Trustee or else the funds for the payment thereof may be trans- ferred by Trustee to Settlor's personal representatives; and neither such personal representatives nor any beneficiary of Settlor's estate shall be required to reimburse Trustee for any fund 50 paid or trans- ferred. This power may be exercised even if some or all of the bene- ficiaries of settlor's estate have no interest under this Agreement. It is particularly requested that the powers herein granted be exer- cised liberally in favor of the prompt and convenient settlement of Settlor's estate and particularly to relieve any situation that may arise as a result of there being insufficient cash in the hands of Settlor's executors or administrators with which to accomplish such settlement. Special Directions 6.03. Notwithstanding anything to the contrary con- tained in this Trust Agreement, Settlor directs that all proceeds received by the Trustees hereunder from "qualified" plans exempt from federal estate tax under the applicable provisions of the U. S. Inter- nal Revenue Code shall bee orne a part of the corpuS of this Trust Agree- ment and any of the Sub-Trusts created hereunder, free and clear of all debts, taxeS or other obligations of Settlor's estate and without diversion to, or for the benefit of Settlor's estate administra-tion. .. I 18 I ~ ,.",,_""'"_4..,,~...,....,-''''' ....,.).... ......."..".....,.. ".-'.. .~.... ........ ..,...,...~.<","';"''",)=.='''~_~''.'''''....'''....".\'''''~''''-'''''~ In order to accomplish this purpose, Trustee is authorized to maintain I J such separate or special bank accounts, or otherwise identify and seg- I regate such funds as it may deem to be necessary or appropriate to in- j sure compliance with the direction contained in this paragraph. 1 \ Special power of Settlor's Wife 6.04. After the death of Settlor, Settlor's surviving I spouse shall have the right during her lifetime to substitute for the then-acting Trustee of the Trusts created hereunder any other cor- porate Trustee located anywhere within the United States by giving I sixty (60 ) days I written notice to the said then-acting Trustee. The said then-acting Trustee, upon receiving said notice and written accep- tance of the Trust from the successor Trustee, shall then transfer all assets of the said Trust to the said successor Trustee. Limitation on Powers 6.05. All powers given to the Trustee by this Trust Agreement are exercisable by the Trustee only in a fiduciary capacity and in accordance with the prudent man rule. Release of Life Insurance Companies 6.06. Settlor releases the life insurance companies from any responsibility to see to the 'execution of the Trusts created here- under or to the application of the proceeds of the policies. ARTICLE VII. DUTIES AND COMPENSATION OF THE TRUSTEE Allocation of Income and principal 7,01. The Trustee shall determine what is income and what is principal of each Trust created under this Trust Agreement, and what expenses, costs, taxes, and charges of any kind whatsoever shall be charged against income and what shall be charged against prin- cipal in accordance with the applicable statutes of the Commonwealth of Pennsylvania as they now exist and may, from time to time, be en- acted, amended, or repealed. 19 ~. .;r.;..", ,~:.,""."j;';', .~'..';;;.,i' ,,_,,;t, .1~;;;;:.;;.:;:;;>'/....":;.',l;;~..:;.:r$"';;;~~;:;~;\iU\i~~r.r~,~..;..;.;~~~~~-~'~~~..4J.- 1 Relations with Trustee 7.02. No one dealing with the Trustee need inquire con- cerning the validity of anything it purports to do, or need see to the application of any money paid or any property transferred to or on the \ order of the Trustee. compensation 7.03. The original Trustee hereunder and all successor \ Trustees shall be entitled to reasonable compensation based on its \ regular schedule of fees for such services in effect at the time of the service rendered. ~ 7.04. No bond shall be required of the original Trustee hereunder or of any successor Trustees; or if a bond is required by law or court, no surety shall be required on such bond. \ Resiqnation of Trustee and Successor Trustees 7.05. The Trustee may resign and discharge itself from any Trust created hereunder at any time, and on such resignation the Settlor shall appoint as successor another corporate Trustee. If the. Settlor shall then be deceased, all the competent adult beneficiaries of the Trust Estate, as it may then have been divided, shall have the right to appoint a successor corporate Trustee, and any such appoint- ment shall be binding and conclusive on all persons interested herein. If such competent adult beneficiaries shall fail to appoint a succes- sor, then a court of competent jurisdiction shall appoint the suc- cessor. Accounts 7.06. The Trustee shall each year render an account of his administration of each Trust hereunder to the oldest living issue of the Settlor to whom income of such Trust may be distributed (or such issue's guardian) . Such person's (or the guardian'S) trans- , actions stated therein or shown thereby, shall be final and binding on " :t i 1 20 ~. ., _.- -" ._~ ,.-." all persons ( whether in being or not) who are then or may thereafter become interested in, or entitled to share in, either the income or the principal of such Trust, provided always, however, that nothing contained in this paragraph 7.06 shall be deemed to give such person (or the guardian) acting in conjunction with the Trustee the power to alter, amend, revoke or terminate such Trust. ARTICLE VI II . CONSTROCTION OF THE TRUST Governinq Law 8.01. This Trust Agreement shall be governed by the laws of the commonwealth of pennsylvania. Severability 8.02. If any part, clause, provision, or condition of this Trust Agreement is held to be void, invalid, or inoperative, such voidness, invalidity, or inoperativeness shall not affect any other clause, provision, or condition hereof; but the remainder of this Trust Agreement shall be effective as though such clause, provision, or condition had not been contained herein. Interpretive Clause 8.03. As used in this Trust Agreement, the masculine, feminine, or neuter gender, and the singular or plural number shall each be deemed to include the others whenever the context so indi- cates. presumption of order of Death 8.04- If the Settlor and his Wife shall die under such circumstances that it is doubtful or difficult to prove which of them died first, then, for purposes of this Agreement, it shall be conclu- sively presumed that the Wife shall have survived the Settlor. In any case where an Income Beneficiary and remainderman die under such cir- cumstances, then, for purposes of this Agreement, it shall be conclu- sively presumed that the Income Beneficiary shall have survived the remainderman. - 21. r ~ Notice of Events 8.05, until the Trustee shall have received written notice of any birth, death, or other event on which the right to receive payment from the Trust Estate may depend, it shall incur no liability for disbursements or distributions theretofore made in good faith, perpetuities 8.06, Notwithstanding anything herein contained to the contrarYr no Trust created hereby shall continue for more than 21 years after the death of the last survivor of the Settlor, his Wife, his children, and such descendants of the Settlor as are in being at the date of the death of the Settlor, and if at the expiration of such period any property is still held in Trust hereunder such property shall immediately be distributed to and among the persons then- re- ceiving or entitled to have the benefit of the income therefrom in the same proportions. in which they are receiving or entitled to have the benefit of such income. IN WITNESS WHEREOF, this Trust Agreement has been signed by the settlor and the Trustee on this '2.0 day of, ~ , 1985. WITNESS: SETTLOR ~~A.M KP~ WENDELL K. PASS .v" 1il- TRUSTEE CCNB BANK, N.A. -~~N /' Assistant Vice president & As~istant Secretary . '. 22 COMMONWEALTH OF PENNSYLVANIA: COUNTY OF ~in,ph'l1 55. : On this, the ~ (J/ll day Of().,/'~ , 1985, before me, a Notary Public, the undersig"ned officer, personally appeared WENDELL K, PASS, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and ack- nowledged that he executed the same for the purpose therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. /J/f,,"_l rt- \'y{J4~b '~,Npt'ary publ c / I ,,>~ (SEAL)'. My Commission Expires(:1 NOnp.y PllnllC My Comrn;5"llll ;~~:r.::~ JJh;l;r.,. :'6. 1987 liatl,~,-U1.. f'A t;-a:';l"liinCoulil)' COMMONWEALTH OF PENNSYLVANIA: 55. COUNTY OF CUMBERLAND : On this, the ??nr'l day of 1>.1](~1l~'T' , 1985, before me, a Notary public, the undersigned officer, personally appeared J. A. SMILEY , who acknowledged himself to be the ASSISTANT VICE PRESIDENT & TRUST OFFICER of CCNB BANK, N.A. , and that he, being authorized to do so, executed the fore- going instrument for the purposes therein contained by signing the name of the corporation by himself as ASS'T VICE PRESIDENT & TRUST OFFICER IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~L otary Public (SEAL) My Commission Expires: 01.lH.~IIl. PAYNE, tWTA!I;'i ?lliUC C,WP H:Ll dCilG, Cu~',[;H.iA~!r. COUJl1Y ",,"y cu~loiIS~iON D.?IR~S W"T. l~. 1.9iS . .hmwr, p'ilnsylv,oIIlil "Hoti.l'i~:1 of HotJriu " 23 SCHEDULE "All Company Name Amount Policy Number Metropolitan Life Ins. Co. $10,000,00 792835765PR Metropolitan Life Ins. Co. $10,000.00 666214971A - ~ ' LIMITED APPRAISAL - SUMMARY APPRAISAL REPORT I REAL ESTATE OF: . I I I ESTATE OF WENDELL K. PASS I WENDEL YN K. MASTILAK MARY LOUISE ANDREWS "129.27 ACRE FARM" III LIVERMORE ROAD (T,982) DERRY TOWNSHIP WESTMORELAND COUNTY, PENNSYL V ANlA I ~ I SUllMITTED TO: ~ METTE, EVANS & WOODSIDE ATTORNEYS AT LAW I 3401 NORTH FRONT STREET P.O. BOX 5950 HARRISBURG, PA 17110,0950 I ATTENTION: MR. JEFFREY A. ERNICO ~ {j ~ SUllMITTED BY: n HA YDEN APPRAISAL SER VICES SUITE 3. ONE PlNEVIEW PLACE ,... 225 HUMPHREY ROAD L GREENSBURG. PA 15601,4571 ';' ,. ~ I,t u..> HAYDEN APPRAISAL SERVICES ,.------ '-"--- ,--_._..._--_......_~--~._----.._._-_._-- ---.... . Page 1 I HAYDEN APPRAISAL SERVICES I Gary Hayden, MAl, SRA Suite 3. One Pineview Place Gary L. Ciarimboli 225 Humphrey Road E. E. Collins Greensburg, Pennsylvania 156014571 I jancan G. Vaughn Phone: (724) 8374824 April 12, 2004 Fax: (724) 8374846 Mette, Evans & Woodside Attorneys at Law I 3401 North Front Street Harrisburg, PA 17110,0950 ~ Attention: Mr. Jeffrey A. Ernico Re: Real Estate Appraisal- "Wendell K. Pass Estate Livermore Road (T,982), Derry Township I Westmoreland County, P A DearMr. Emico: In fulfilhnent of our agreement of March 10, 2004, I am pleased to transmit herewith my "Limited Appraisal, SummaI)' ~ Report" of the opinion of market value of the fee simple estate interest in the above referenced parcel ofreal estate as of July 8, 2003, the date of death and effective date of this appraisal. This report provides a "retrospective" opinion of market value. Gary L Ciarimboli made a personal inspection on April 7, 2004 of the property that is the subject of this I report. The attached report sets forth my value conclusion as well as the supporting data and reasoning which form the basis of my opnnon. - The value opinion reported is qualified by specific defmitions, limiting conditions and certifications which are set forth on pages 5 and 6 of this report. J particularly call to your attention those unusual limiting conditions setforth on page I 5 dealing with the possible existence of hazardous or toxic materials that mayor may not be located on the premises appraised. I This report was prepared for and the fee billed to Mette, Evans & Woodside, c/o Jeffrey A. Ernico, the client and intended user of the report. It is intended for your use for estate settlement purposes. The intended use is to assist the client in collateral valuation and/or portfolio management It may not be distributed to or relied upon by other persons or entities without my written permission. I MARKET VALVE ASSUMES THAT THE PROPERTY IS IN FULL COMPLlANCE WITH ALL BUILDING CODES AND REQUIREMENTS OF DERRY TOWNSHIP. APPRAISAL ALSO ASSUMES A LEGAL AND I FUNCTIONAL ON SITE SEPTIC SYSTEM AND SAFE AND ADEQUATE WATER SUPPLY. As a result of this analysis, it is my opinion that the market value of the unencumbered fee simple interest of this . property, subject to the definitions, certifications and limiting conditions as set forth in the attached report, as ofJuly 8, 2003, the date of death is: $155,000. ( ONE HUNDRED FIFTY FIVE THOUSAND DOLLARS) I TIllS LETTER MUST REMAIN ATTACHED TO THE REPORT, WHICH CONTAINS 14 PAGES PLUS RELATED EXHffiITS, IN ORDER FOR THE VALUE OPINION SET FORTH TO BE CONSIDERED VALID. a Respectfully submitted, HAYD N APPRAISAL SERVICES I ~~ . ClARIMBOLI PACE ED GENERAL 9 REAL ESTATE APPRAISER ST. CERT. #GA,Q01675,L . Page 2 PHOTOGRAPHS OF SUBJECT PROPERTY I I I I ~ I ~ I d FRONT VIEW OF DWELLING FACING WEST I " II I ~ fI ~ .i);i , fJi=j '11 . ~1'i ~ - 'I' '. W 'l,;,.j, FRONT VIEW OF DWELLING FACING NORTHEAST - t~ ,:~,. - ~ Page 3 PHOTOGRAPHS OF SUBJECT PROPERTY (Cont'd) I . I I I I ~ I - VIEW OF SITE AND GAS LINE EASEMENT FACING NORTHWEST I . I I . . ~ I VIEW OF SITE AND GAS LINE EASEMENT FACING NORTHEAST i ~ Page 4 PHOTOGRAPHS OF SUBJECT PROPERTY (Cont'd) I I \ I I I I ,. ." I ~ VlEW OF SITE FACING SOUTHEAST I d m I q R 3 I STREET SCENE, LIVERMORE ROAD FACING NORTH ... . l.! ; Page 5 I ASSUMPTIONS AND LIMITING CONDITIONS I. As agreed upon with the chent prior to the preparation of this appraisal, this is a Limited Appraisal because it invokes the I Departure Provision of the Uniform Standards of Professional Appraisal Practice. As such, information pertinent to the valuation has not been considered and/or the full valuation process has not been applied. Depending on the type and degree of limitations, the reliability of the value conclusion provided herein may be reduced. 2. This is a Limited Appraisal Report which is intended to comply with the reporting requirements set forth under Standard I Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report. As such, it might not include full discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and analysis is retained in the appraiser's file. The information contained in this report is specific to the needs of the client and for the intended use stated I in this report. The appraiser is not responsible for unauthorized use of this report. 3. No responsibility is assumed for legal or title considerations. Title to the property is assumed to be good and marketable unless othenvise stated in this report. 4. The property is appraised free.clear of any or all1iens & encumbrances unless otherwise stated in this report. . 5. Responsible ownership and competent property management are assumed unless othenvise stated in this report. 6. The information furnished by others is believed to be reliable. However, no warranty is given for its accuracy. 7. All engineering is assumed to be correct. Any plot plans and illustrative material in this report are included only to assist I the reader in visualizing the property. 8. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures that render it more or less valuable. No responsibility is assumed for such conditions or for arranging for engineering studies that may be required to discover them~ ~ 9. It is assumed that there is full compliance with all applicable federal, state, and local environmental regulations and laws unless othenvise stated in this report. 10. lt is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined & considered in this report. I II. It is assumed that all required licenses, certificates of occupancy or other legislative or administrative authority from any local, state, or national governmental or private entity or organization have been or can be obtained or renewed for any use on which the value estimates contained in this report are based. 12. Any sketch in this report may show approximate dimensions and is included to assist the reader in visualizing the property. ~ Maps & exhibits in this report are provided for reader reference purposes only. No guarantee as to accuracy is expressed or implied unless othenvise stated in this report. 13. It is assumed that the utilization of the improvements and is within the boundaries or property lines of the property I described and that there is no encroachment or trespass unless otherwise stated in this report. 14. The appraiser is not qualified to detect hazardous waste and/or toxic materials. Any comment by the appraiser that might suggest the possibility of the presence of such substances should not be taken as confirmation of the presence of hazardous waste and/or toxic materials. Such determination would require investigation by a qualified expert in the I field of environmental assessment. The presence of substances such as asbestos, urea formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The appraiser's value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value unless otherwise stated in this report. No responsibility is assumed for any environmental conditions, or for any I expertise or engineering knowledge required to discover them. The appraiser's descriptions and resulting comments are the result of the routine observations made during the appraisal process. 15. Unless otherwise stated in this report, the subject property is appraised without a specific compliance survey having been conducted to determine ifthe property is or is not in conformance with the requirements ofthe Americans with Disabilities I Act The presence of architectural and communications barriers that are structural in nature that would restrict access by disabled individuals may adversely affect the property's value, marketability, or utility. 16. Possession of this report, or a copy thereof, does not carry with it the right of publication. "Neither all nor any part of the contents of this report shall be conveyed to any person or entity, other than the appraiser's or firm's client, through I advertising, solicitation materials, public relations, news, sales, or other media without the written consent and approval of , the authors, particularly as to valuation conclusions, the identity of the appraiser or firm with which the appraiser is connected, or any reference to the ADDraisal Institute or MAl and SRA desil!T1ations. Further, the appraiser or firm assumes I no obligation, liability or accountability to any third party. If this report is placed in the hands of anyone but the client, t',. client shall make such parry aware of all the assumptions & limiting conditions of the assignment." I'l. 17. The appraisal is made with knowledge of market conditions as they appeared as of the date of inspection and are noted throughout the report. The appraiser cannot be held responsible for unforeseeable events that alter market conditions after ! the effective date of the appraisal. ~ HAYDEN APPRAISAL SERVICES ~ ~ ~6 I CERTIFICATION I certify that, to the best of my lmowledge and belief: _ The statements of fact contained in this report are true and correct. The reported analysis, opinions, and conclusions are limited only by the reported assumptions and limiting I conditions, and is my personal, impartial, 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 I interest with respect to the parties involved I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. I My compensation for completing this assignment is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a g stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. This appraisal was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. ~ The analysis, opinions, and conclusions were developed, and this report has been prepared in conformity with , the Uniform Standards of Professional Appraisal Practice. I . Gary L Ciarimboli has made an inspection of the property that is the subject of this certification. The reported analysis, opinions, and conclusions were developed, and this report has been prepared, in 11 conformity with the requirements of the Code of Professional Ethics and the Standards of Professional fa Appraisal Practice of the Appraisal Institute. rJ.!I. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly fi authorized representatives. , Gary L Ciarimboli are in compliance with the Competency Provisions in the Uniform Standards of Professional ;.'~ Appraisal Practices, and have sufficient education and experience to perform the appraisal of the subject ,ij property. BI Market value of the fee simple interest in this property in "as is" condition as stated in this report is $155,000 f::! with an effective date ofJuly 8, 2003, the date of death. As such the value conclusion is a retrospective opinion of value. Ill. ~ ^'''".,''''' _~ / / J ~ DATE .~ ~ G . CIARlMBOLI P A TIFIED GENERAL 1@J REAL ESTATE APPRAISER 1~ ST. CERT. #GA,OOI675,L ~ ~ ~ iilil HAYDEN APPRAISAL SERVICES , Page 7 LIMITED APPRAISAL ,SUMMARY REPORT I This is a Limited Appraisal Report which is intended to comply with the reporting requirements set forth under Standards Rule 2,2 (b) of the Uniform Standards of Professional Appraisal Practice for a Limited Appraisal Report. . As such, it presents only summary discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser1s opinion a/value. Supporting documentation concerning the data, reasoning, and analysis is retained in the appraiser's file. The depth of discussion contained in this report is specific to the needs of the client and for the intended use stated below. The appraiser is not responsible for unauthorized use of this I report. Furthermore, in accordance with prior agreement between the client and the appraiser, this report is the result of a I limited appraisal process in that certain allowable departures from specific guidelines of the Uniform Standards of Professional Appraisal Practice were invoked. The intended user of this report is warned that the reliability of the value conclusion provided may be impacted to the degree there is departure from specific guidelines ofUSP AP. . CLIENT: Mette, Evans & Woodside Attorneys at Law 3401 North Front Street I Harrisburg, Pa. 1711 0,0950 APPRAISER: Hayden Appraisal Services ~ Suite 3, One Pineview Place 225 Humphrey Road , Greensburg, PA 15601 I SUBJECT: "129.27 Acre Farm" Estate of Wendell K. Pass Wendelyn K. Mastilak '] Mary Louise Andrews II Livermore Road (T,982) Derry Township, Wesnnoreland County, P A I PURPOSE OF THE APPRAISAL: The purpose of this appraisal is to provide the appraiser's best opinion , of the market value of the subject real property as of the effective date. Market value is defmed by the federal _ financial institutions regulatory agencies as follows: '.~ I. Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the II price is not affected by undue stimulus. lmplicit in this definition is the consummation of a sale as of a specified date I:.. and the passing of title from seller to buyer under conditions whereby: ~"J (1) buyer and seller are typically motivated; 1,Iii (2) both parties are well informed or well advised, and acting in what they consider their own best mterests; (3) a reasonable time is allowed for exposure in the open market; i! (4) payment is made in terms of cash in U.S. dollars or in terms offmancing 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. \~ (Source: Office of the Comptroller olthe Currency under 12 CFR, Part 34, Subpart C-Appraisals, 34.42 Defillitions UJ.) ~ INTENDED USER OF REPORT: Mette, Evans & Woodside, c/o Jeffrey A. Ernico INTENDED USE OF REPORT: This appraisal is intended to provide documentation of an opinion of ~ market value on the appraised property for estate settlement purposes. COMPETENCY STATEMENT: This appraiser has over sixteen years of experience in the appraisal of ." rural residential ~ agricultural properties in the Wesnnoreland County .market area. 1 am familiar with local market - p;;:; econonnc conditions as well as Wlth market values/sales pnces of smular properties. .' HAYDEN APPRAISAL SERVICES ~ P~8 INTEREST VALUED: Fee Simple I EFFECTIVE DATE OF VALUE: July 8, 2003 I DATE OF INSPECTION: April 7, 2004 DATE OF REPORT: April 12, 2004 I MARKET TWE: Normal market time for a rural residential/agricultural property in the subject market area varies from 240 to 365 days. The market time estimated for the property being appraised is the same if priced competitively. Supply and demand are in balance at this time. I RETROSPECTIVE OPINION OF MARKET VALUE: A retrospective value opinion is defined as "an opinion of value as of a specified historic date" according to "The Appraisal of Real Estate", twelfth edition, page 54 I published by the Appraisal Institute. A retrospective opinion of market value is concluded with effective date of July 8, 2003. EXPOSURE TWE: Exposure time is defmed as "the estimate length oftime the property I: interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at I.. market value on the effective date of the appraisal; a retrospective estimate based upon an analysis of past events assuming a competitive and open market" according to USP AP Statement on Appraisal Standards No.6 (SMT,6). I~ The estimated reasonable exposure time for a similar property varies from 240 to 365 days. , APPRAISAL DEVELOPMENT AND REPORTING PROCESS: In preparing the appraisal, Gary L. Ciarimboli has inspected the subject site and the exterior of the improvements as well as the interior of the subject IJ building, measured the building, reviewed Westmoreland County tax maps, site plan, gathered information from the iJ neighborhood as well as competing economic neighborhoods in the area. Gathered comparable improved sales, confumed all comparable sale data with at least one party to the transaction, and analyzed the information gaihered '1 in applying the sales comparison approach to value. Per prior agreement with the client, the appraiser did not use the \I cost or income approaches to value. Although these approaches could generally be considered meaningful in appraising a property of this type, the appraiser believes the primary approach to value is the sales comparison 1.'\1.. approach. The appraisal process therefore involved departure from Standards Rule l,3(b), l,4(a,b,c,) l-4(i). This ~ Summary AppraIsal Report 18 a bnefrecap'tulatiOn of the appraiser's data, analySIS & conclusiOns. SUppOrtIng documentation is retained in the appraiser's file. i~. DESCRIPTION OF REAL ESTATE APPRAISED '* MARKET AREA DESCRIPTION: Subject is located in the extreme north,central section of Derry fl Township, Westmoreland County, PA, . The market area is defmed by the Conemaugh River to the north, Township ~ Road 966 to the east, U.S. Route 22 to the south and Township Road 937 to the west. The inunediate area is predominately rural residential and agricultural in nature. Homes in the area show a wide range of styles, ages and values. Mobile homes are interspersed throughout the area. There is also vacant land lying dormant. Limited rn commercial use is found on U.S. Route 22 and is far removed with no value impact. The character of the !Oil neighborhood has been stable over the years and it is anticipated to remain stable in the future. There has been no high density development in the inunediate area due to the lack of availability of public water or sewers. The overall rn appeal of the area for a rural residential - agricultural use is considered average. Derry Area School District. " LEGAL DESCRIPTION: Instrument No.: 200306170047286 rn HISTORY OF OWNERSHIP: Most recent transactions was on May 15, 2003, for $1.00. This was a .... family transfer. Prior sale in October 2000 for $1.00. This was a family transaction. A third sale was in June 2000 for $1.00 which was also a family sale. There have not been any other transfers within five years of the effective date ~ of this report. ". CURRENT LISTING: The property is not under agreement to sell nor is it listed for sale. n REAL ESTATE ASSESSMENT: $15,370. (Total land and building) .. , REAL ESTATE MILLAGE: 83.39 Mills (2003) ~ REAL ESTATE TAXES: $1,281.70, Total Annual Taxes (2003) at face ;!r- ,. HAYDEN APPRAISAL SERVICES ~ Page 9 CENSUS TRACT/MSA NOS,: 8081 ' 6280 I TAX MAP IDENTIFICATION NO.: 45,05,00,0,014 SITE DESCRIPTION: Irregularly shaped parcel of 129.27 acres ofland. See aI/ached tax map 11 and legal description. Adequate road frontage on the western side of Livermore Road (T,982) and at the rear of the site on the easterly side of Livermore Road (T,982). Livermore Road (T,982) is a two lane bidirectional asphalt surfaced road maintained by Derry Township. Public electric and telephone are connected to the site. Well water I supply. On site septic system for waste disposaL Topography of the site is sloping with steep sloping areas. The site is mostly wooded with some cleared areas in the vicinity of the home. There is no zoning in Derry Township or County wide zoning in Westmoreland County. There are two gas lines, two easements for two gas wells, and a power line easement which traverse the site. These easements limit the overall utility of the site. No other apparent I adverse easements or encroachments. Soil and subsurface conditions are assumed to be adequate to support a rural residential/agricultural highest and best use. No soil profiles or core samples were provided. No evidence of hazardous substances. Appraisal is based on the assumption that none exist Property is not located in a flood hazard I zone. Community panel No. 42l2050255,D, dated 8/5/97, Zone "X". NOTE: The roads in Derry Township were renamed for 911. The subject is now located on Livermore Road (T,982), which was formerly Barnhart Road (SR 1029). I MISC SITE IMPROVEMENTS: Lawn, shrubs, gravel driveway, misc. trees, etc. MAIN BillLDING DESCRIPTION: Two story aluminum and asbestos shingle sided single family detached ~ dwelling with a gross area of 998 SF. EXTERIOR: Stone foundation. Shingle roof. Galvanized gutters. Aluminum downspouts, soffit & fascia. Wood casement and awning windows with storm sash and screens. BASEMENT: Full, cemented and drained. Concrete floor. Exposed stone walls and exposed joist ceiling. 7' ceiling height Copper . plumbing. Laundry trays, washer and dryer connections. 40 gallon gas HWT. Romex & Bx wiring. 100 AMP electric service. Gas FW A furnace. No central air conditioning. Outside service door. FIRST FLOOR: 499 SF. LR and kitchen. CaIpet and asphalt tile floors. Drywall walls and ceilings. Kitchen has birch cabinets with a double bowl stainless steel sink. No built in appliances. SECOND FLOOR: 499 SF. 2 BR and bath. Pine floors. Drywall walls and ceilings. J Bath has recessed tub with no shower, drywall tub area, water closet, lavatory and medicine cahinet Average closet space. Front porch 4'4" x 6'6". Rear partially enclosed porch 12' X 30'3". ~ ACTUAL AGE: 100+ years. t.., EFFECTIVE AGE: 25 years ., REMAINING ECONOMIC LIFE: 25 years CONSTRUCTION QUALITY: Average ~ CONDITION: Average 1"-1,- . PHYSICAL INADEQUACIES: Evidence of water problem in basement This is typical of older homes with stone foundations. No impact on market value. ITf1 FUNCTIONAL INADEQUACIES: None. lliJ TOTAL GROSS AREA: 998 SF ~' NOTE: Dwelling is tenant occupied. Rent is $60.lmonth plus all utilities and maintenance. Month to month lease. iI> \iiiI PERSONAL PROPERTY: No personal property, equipment, business name, trade fixtures, gas or oil rights if any, etc. have been included in the market value estimate of the subject property. fJl ,I HIGHEST AND BEST USE: Highest and best use is that use of land may be defined as that available .. use and program of future utilization which produces the highest present land value; or that use which fully develops 1~ the site's potential. To render a sound estimate of highest and best use, the appraiser must consider the location and [,. physical characteristics of the subject site, condition and probable economic life of any existing improvements, \d character of the neighborhood, and zoning, in light of the basic economic principles of real property valuation. It is ~ our opinion that the highest and best use of this property "as improved" is for a rural residential/agricultural use. The highest and best use of the site "as vacant" land would be for a rural residential/agricultural use. .. VALUATION CONCEPT: Traditionally, there are three basic approaches or techniques used in the n:' AppraisaJofreal estate. These are: the Cost Approach, Sales Comparison Approach, and the Income Approach. It is U the responsibility of the appraiser to make every reasonable effort to secure and analyze all data pertinent to the determination of value of the subject property. In the fmal analysis or conclusion of value, the appraiser must weigh '} the relative validity of each approach and make a value judgment based on this available evidence. In this report, l ~ sole consideration is given to the sales comparison approach based on the limited scope of the assignment. '" HAYDEN APPRAISAL SERVICES ~ IiIf Page 10 I SALES COMPARISON APPROACH TO VALUE The sales comparison approach to value is based on the principal of substitution. That is, that value is set by the ~ cost of acquiring an equally desirable substitute property. The methodology employed is an analysis of comparable (similar) properties that have sold within a reasonable time period. Adjusttnents for differences between the comparables I and subject are made to arrive at a fmal value conclusion. There are five steps that are taken within the sales comparison approach which are as follows: L Research the market to obtain information on sales transactions, listings, and offers to purchase or sell I properties that are similar to the subject property in terms of characteristics such as property type, date of sale, size, location and zoning. I 2. Verify the information by confIrming that the data obtained are factually accurate and that the transactions reflect arm's,length market considerations. Veritication may also elicit additional information about the market I 3. Select relevant units of comparison (e.g., income multipliers or dollars per square foot) and develop a comparative analysis for each unit. ~ 4. Compare comparable sale properties with the subject property using the elements of comparison and adjust the sale price of each comparable appropriately to the subject property or eliminate the sale property as a comparable. a 5. Reconcile the various value indications produced from the analysis of comparahles into a single value indication or a range of values. In an imprecise market subject to varying occupancies and economies, a range of values J may be a better conclusion than a single value estimate.' Within the sales comparison approach an appropriate unit of comparison is chosen in order to analyze a m property. Units of comparison are "components into which a property may be divided for purposes of comparison"" The li( f' , unit of comparison selected will vary depending upon the type of property being appraised. In the instance of this ~ property, the comparison unit utilized is the price per acre ofland area which considers the contributing value of the land, ;i,: buildings (improvements) and misc. site improvements. This is calculated by dividing the sales price of the comparable " . by its total land area. m Elements of comparison are the "characteristics of properties and transactions that cause prices to varyl1, These elements used are to be considered and adjusttnents for them must be made when they are different than the appraised ~ property. The nine elements of comparison are: "(1) real property rights conveyed, (2) fmancing terms, (3) conditions of sale, (4) market conditions, (5) location, (6) physical characteristics, (7) economic characteristics, (8) use, and (9) non, ~ realty components ofvalue",3 In this appraisal, I have considered four sales of comparable rural residential/agricultural properties. Pertinent factual data on each sale follows immediately on the next two pages. ~ ~ 'The Appraisal of Real Estate, Eleventh Edition, Appraisal Institute 1996, Page 401, 402. :;J 'IBID, Page 402 t~ 3 IBID, Pages 403 & 404 1;-. ",-, . HAYDEN APPRAISAL SERVICES ,. 1!I Page 11 I SALES COMP ARISON APPROACH TO VALUE (Cont'dl SALE NO, 1 I GRANTOR: John P. Ewing & Kathy Zagoric GRANTEE: Cory W. leni LOCATION: Slickville Road, Salem Township, I Westmoreland County, PA DATE: January 28, 2000 PRICE: $100,000. FINANCING: Cash I VERIFIED: Agent: Jarma NassidalRemax Realty DEED DATA: DBV 3734 Pages 170 TAX MAP NO.: 57-05,00,0,006 & 57,05-01,0,006 I ZONING: No Zoning in Salem Township HIGHEST AND BEST USE: Rural Residential/Agricultural Use LAND DATA: Irregularly shaped parcel of 93.12 acres of land. Paved road frontage. Public I electric and water. Septic system. Sloping topography. No apparent easements. BUILDING DATA: Two story frame single family detached dwelling. Gross area of 1,250 SF. Full unfmished basement. 6 rooms, 3 BR and I bath. Oil hot water heat. Pine floors. Plaster & paneled walls. Average quality. Poor condition. 100 + years old. ~ (a) Two car frame detached garage. Fair condition. UNIT VALUE: $1,074/per acre ofland including improvements I SALE NO.2: GRANTOR: Pearl Orient Estate ~ GRANTEE: Thomas R. Henry LOCATION: Off Route 22 East, Derry Township, Westmoreland County, P A I DATE: November 10, 1999 PRICE: $225,000. FINANCING: Cash . VERIFIED: Agent: Shirley ShubucklCentury 21 West Perm DEED DATA: DBV 3716 Page 566 TAX MAP NO.: 45,15,00,0,013 ZONING: No zoning in Derry Township I HIGHEST AND BEST USE: Residential/Agricultural LAND DATA: Irregular shaped parcel of85.8 acres. Rolling to sloping topography. Public electric only. Spring water. Septic systems. Access is via a private right of way. No apparent I easements. BUILDING DATA: Two story aluminum sided single family detached dwelling with a gross area of 1950 SF. Full unfmished basement. Oil hot water heat. No central air conditioning. . 7 rooms, 3 BRS and I bath. Carpet & pine floors. Plaster interior. Fireplace. 100+, years old. Average quality & condition. Porches. One story frame tenant dwelling. 816 SF. Partial unfinished basement. 3 rooms, I BR and I bath. Carpet & wood floors. Plaster interior. Oil FW A heat. . Average quality. Fair condition. Concrete block greenhouse. Average condition. Frame bank barn. Average condition. , Concrete block storage building. Average condition. Misc. frame outbuildings UNIT VALUE: $2,622/per acre ofland ~ ~ HAYDEN APPRAISAL SERVICES .. . Page 12 I SALES COMPARISON APPROACH TO VALUE (Cont'd) SALE NO.3: I GRANTOR: Estate of Paul K. Keyser GRANTEE: . Douglas G. Nelson & Jessica Nelson LOCATION: RD#I Route 130, Cook Township, Westmoreland County, PA I DATE: January 31, 2002 PRJCE: $300,000. VERIFIED: Agent: Donald Kramer/Cook Real Estate FINANCING: Cash I LEGAL DATA: Instrument No.: 200202010008330 TAX MAP. NO.: 44,17 ,00-0,044 ZONING: No Zoning in Cook Township ~ HIGHEST AND BEST USE: Residential! Agricultural LAND DATA: Irregularly shaped parcel of 115.290 Acres. Paved road frontage on Route 130. Public electric only. Spring water & septic system. Gently sloping topography. No I apparent easements or encroachments. BUILDING DATA: Two story log & frame sided single family detached dwelling with a gross are of 1,576 SF. Full unfInished basement. Oil hot water heat. No central air conditioning. 7 rooms, 3 BR's and bath. Carpet, vinyl and wood floors. Plaster and panel interior. ~ No fIreplace. 100 +1, years old. Average quality. Average to fair condition. Two car detached frame garage. Average condition. Frame bank barn. Average condition. I Misc. outbuildings. Average to fair condition. UNIT PRJCE: $2,602/per acre ofland ~ SALE NO.4: GRANTOR: Hazel Bowers & Charles Bowers I GRANTEE: Todd R. Thome & Susan Thorne LOCATION: SR 1029, (North of Route 22), Derry Township Westmoreland County, Pa. I DATE: July 26, 2001 PRJCE: $136,000. LEGAL DATA: Instrument No.: 200107260039854 FINANCING: Conventional I VERIFICA TlON: Grantee: Todd Thorne TAX MAP ID. NO: 45,10,00,0,054 ZONING: No Zoning in Derry Township I HIGHEST AND BEST USE: Rural ResidentiallRecreational LAND DATA: 160.300 acres of vacant land. Rolling to sloping topography. Public electric and gas available. Well water & septic system required. Paved road frontage. Power line , and gas well easements. Site has some cleared areas but mostly wooded and brush covered. UNIT PRJCE: $848/per acre ofland. I 1 ~ .. ~ It i' HAYDEN APPRAISAL SERVICES ,.. I Page 13 I SUMMARY OF APPRAISAL ANALYSIS SALES COMPARISON APPROACH: A summary of the data on comparable improved sales is as follows: I SALE SALE LAND PRlCE ADJUST. NO. ADDRESS PRlCE DATE AREA PER AC $ACRE I I Slickville Road $100,000. 1/2000 93.12 $1,074. $1,213. Salem Township 2 Off Route 22 $225,000. 11/1999 85.80 $2,622- $1,180. I Derry Township 3 Route 130 $300,000. 1/2002 115.29 $2,602. $1,223. ~ Cook Township 4 Livermore Road $136,000. 7/2001 160.30 $ 848. $1,187, . Derry Township Three sales of similar rural residential, agricultural properties and one sale of vacant land in the subject market area were analyzed to provide a basis for an opinion of market value. Sales I & 4 are in similar locations. Sales, 2 & 3 are in ~ superior areas. All sales have a rural residential, agricultural highest and best use. All sales sold with new conventional financing at prevailing market rates or cash to the seller. Therefore, no fmancing adjustment is required. Market values in the subject area have remained stable from November 1999 to the effective dates ofthis report A time adjustment is not I required. All sales are arms length transactions. A condition of sale adjustment is not required. The sales were analyzed using a price per acre of land as the common unit of comparison. This unit includes the contributory value of the land, building and site improvements, It is calculated by dividing the sales price of the comparable sale by the total land area. ~ The adjusted unit prices show a range from $1,180 to $1,223 per acre ofland. A unit price of$1 ,200 per acre ofland is selected as appropriate for this property. Market value is calculated as follows: 129.27 Acres. @ $1,200.lAcre = $155,124. I Round To: $155,000. I INDICATED VALUE BY SALES COMPARISON APPROACH,..........m......mm....mm...............$] 55.000 I I q I ~ I , I g HAYDEN APPRAISAL SERVICES IIIl .- Page 14 I RECONCILIATION AND FINAL VALUE CONCLUSION The sales comparison approach is a strong indicator of value when adequate data is available. This approach is a . good measure of market activity and is responsive to changes in the marketplace. Four sales were presented. Sole consideration was given to the sales comparison approach. Since this is a I1Limited Appraisal - Summary Report" the cost and income approaches have not been developed. This format was agreed to by the client, Mette, Evans & I Woodside, c/o Jeffrey A. Ernico REFERENCE IS MADE TO THE COVER LETTER OF THIS REPORT WHICH IS AN INTEGRAL PART OF THE REPORT. THIS APPRAISAL IS INCOMPLETE WITHOUT THE COVER LETTER AND CANNOT BE I RELIED UPON WITHOUT THE COVER LETTER. I MARKET VALUE ASSUMES THAT THE PROPERTY IS IN FULL COMPLIANCE WITH ALL BIDLDING CODES AND REQUIREMENTS OF DERRY TOWNSHIP. APPRAISAL ALSO ASSUMES A LEGAL AND FUNCTIONAL ON SITE SEPTIC SYSTEM AND SAFE, ADEQUATE WELL WATER SUPPLY. I This report provides a "retrospective" opinion of market value as the date of inspection is after the effective date of value. ~ As a result of this analysis, it is my opinion that the market value of the unencwnbered fee simple interest of this property, subject to the defInitions, certifIcations and limiting conditions as set forth in the attached report, as of July 8,2003, the effective date of value (date of death), is: I $155,000. ~ (ONE HUNDRED FIFTY FIVE THOUSAND DOLLARS) I . I I I I I) - ~ HAYDEN APPRAISAL SERVICES ~. I . I I I ADDENDUM I SECTION OF DERRY TOWNSHIP ROAD MAP LEGAL DESCRIPTION (DEED COPY) I~ WESTMORELAND COUNTY TAX MAP BUILDING PERIMETER DRAWING APPRAISER'S STATE CERTIFICATION I APPRAISER'S QUALIFICATIONS ENGAGEMENT LETTER ~ m \,f J ~ "L< ~ ~ r '"-" * "" ~ ... n- il' ,... 'r L '.'_~ HAYDEN APPRAISAL SERVICES III Pa 15 ~ e -' --.-' ... m , I i II A, \ 1.. .'" .... m ::-:::"~.~, I . . ...'_.'~' I ~~ ~.",g, ~.... I co,,- .f\"- '1a\T'o ,,0 Lc~'{~" 'v". I ~ I ~ I .. -'" ~ -'~ ,--.'- I ,.~ ':;.. i I I I -i ':.1;; uJJo , J'lfi ~ I DERRY TOWN SHIP ROAD MAP i 'i ;I ~ 11I..- Pa~e 16 i' .--- --.---- ----. .. - - - - -, I I I , -' i . . I THIS INDENTURE , , ! I "" dayof HAY ! MADE this I~ ,2003, : BETWEEN WENDELL K. PASS, individually, as Trustee of the WENDELL T. P."'-SS and I ALICE V. PASS TRUST dated Septembet 25, 1992, and as Executor of the ESTATE OF AL1CE V. P ASS, deceased, and ANNE H. PASS, his wife; WENDEL YN K. MASTlLAK and JOSEPH J. MASTlLAK, her husband; MARY LOUISE AJ"IDREWS, also known as MARYLOU PASS ANDREWS, and HARRY E. ANDREWS, n, her husband; and Wll.LlAM I T. P ASS, single; (hereinafter called "Grnntors") AND I V,TENnELL K. PASS, WEN'DEL YN K. MASTlLAK, and MARY LOUISE ANDREWS, (hereinafter called "Grnntees"): ~ WITNESSETH, that the said Grantors in consideration of ONE (S1.00) DOLLAR paid to the Glantors by the Grnntees do grant, bargain, sell and convey unto the said Grantees. their hein; and assigns, I ALL those certain two tracts, pieces or parcels of land lying and sitnate in the Township of . Derry, County of Westmoreland, Co=onwealth of Pennsylvania, and being bounded and . described as follows to wit: ~ FIRST: BEGINNING at a chestnut oak, at corner of lands of Samuel Archibald; thence by land of said Archibald, South 531\' East, 765.60 feet to a post in Public Road; thence by lands of the said Samuel Archibald, South 20 V,' Wesr., 356.40 feet to a post; thence by same, North 85 I W West, 1,138.50 feet to a post, thence by same, South 501,' West, 643.50 feet to a post; thence by lands recently owned by Thomas Quirk, deceased, South 31 y,o West, 556.05 feet to a chesmnt oak; thence by same, South 67' West, 516.45 feet to a post, thence by same, South 33\1,' West 181.50 feet to a chesmut oak; thence by same, South 62 \1,' West, 311.85 feet to a chestnut I oak; thence by same, North 57 01,' West, 1,060,95 feet to a post on line oflands recently owned by Doly Jellison, deceased; thence by land of said Jellison, North 8' East. 554.40 feet to a post; , thence by same, North 6 V,' East, 801.08 feet to a stone; thence by land ofMott W. Hunter, North 77 y,' East, 2,481.60 feet to a post on line oflands of JaM Nofsker's hein;; thence by I same, South 47' East, 188.10 feet to a post on line of Samuel Archibald; thence by same lands, Soutb 24 y,' West, 16,5 feet to the place of beginning. I CONT AJNlNG 100 a=, more or less. SECOND: BEGINNING at southeast corner oflands formerly of A. E. Camey, now C.C. Shepard; thence by other lands ofS.T. Archibald and along center of Public Road, South 45' 40' 0 East, 201.3 feet; South 30' East, 319 feer, South 50' East, 400 feer, South 14.05' East, 3S8 feer, South 28' 4S' East, 840 feet to a post on east side of Public Road; thence by lands of Bridget Forister. North 9' IS' East, 679 feet to a stone; thence by lands of J. D. McCurdy, North 1 I' 4S' East, S76 and 21/I 00 feet to a post; North 8' East, 63 I feet to a post, comer oflands ofW. M- Il m\\\I\\II\\\I\\I\\\I\\\I\\\I\I\I\\IIII\\\\\I\I\ IMlIll'":%N301l'7ClOA72I111 06/'712111~ p,t..l! l",$"'4.r.1II :r:U~ '011I !'lurpny T2M13n41e62 ! '"..t.o,..~.....c C.....,..,\y R.col"_I"C ...- . , i -- ---- .. 1 I LEGAL DESCRIPTION I iI'l Page 17 .. - -" .. -- ---- I 1 , I I , Hunter; thence by lands ofW. M. Hunter, South 86' West, 620.5 feet to post; North 71' 15' i I ! West, 883 feet to corner oflands of A. E. Carney; thence, by lands of A. E. Carney, South 11' , 1 30' West. 281 feet to comer oflands of A. E. Carney, the place of beginning. i I CONTAINING 32.21 acres. EXCEPTING A.,,'D RESERVING out of and from the operation oftllis conveyance all the coal with mining rightS which have been conveyed by predecessors in title. I . The Grantors also grant and convey to the Grantees all of the rights iD and under a certain oil and gas lease of S. J, Archibald, et ux. lD T.W. Phillips Gas and Oil Company, by lease dated April I 30, 1940 and recorded in the Office of the Recorder of Deed of Westmoreland Count)', Pennsylvania, in Deed book Volume 1057, Page 91. BEING the same traCts, pieces or parcels ofland which were granted and conveyed to Wendell I T. Pass and Alice V. Pass, as Co,Trustees under the Revocable Intervivos Trust of Wendell T. Pass and Alice V. Pass dated September 25, 1992 l1y Deed dated March 11, 1994 and recorded in the Record",,'s office in and for Westmoreland County, Pennsylvania, in Deed Book Volume 3792, Page 247. Wendell T. Pass died December 3,1998 and according to the Deed of Trust ~ made and executed on September 25, 1992, his undivided one-half (112) intereSt regarding the aforedescnoed real estate was designated to be a part of Fund B in said Trust over which his widow, Alice V. Pass, as the surviving settlor, possessed a Power of Appointment. Alice V. Pass died testate June 28, 2002, and her Last Will and Testament was admitted to probate by the . I Register of Wills in and for Westmoreland Count)', Pennsylvania at No. 65-02-01462. In Article . 3.1 of the Last Will and Testament of Alice V. Pass, she exercised her Power of Appointment , and directed that the real estate owned by the Trust of Wendell T. Pass be distnouted out right , ~ and free from truSt to the Grantees herein. The portion of the aforementioned real estate iliat was titled in the portion of the Trust attributable to Alice V. Pass was not subject to the Power of Appointment, and therefore, under Anicle 3.2 of the Last Will and Testament of Alice V. Pass continues to be held in Trust for William T, Pass, Wendell K. Pass, Wendelyn K. Pass and Mary I Louise Andrews. The Trustee, Executor and benefIciaries all desire that the real estate be disnibuted free of trust to the Grantees herein pursuant to Article 3 of the Declaration of Trust dated September 25, 1992 and pursuant to Article 3 of the Last Will and Testament of Alice V. Pass, specifically, Article 3.4(B), empowering the Trustee to exchange the real estate for other ! . Trust asse'tS. This conveyance is further made pursuant to the Fami1y Settlement Agreement filed of record in the Estate of Alice V. Pass, deceased, in the Register ofWilJs in and for Westmoreland County, Pennsylvania, at No. 65-02-01462. One of the children of Wendell T. I Pass and Alice V. Pass, namely. Robert G. Pass, died intestate and without issue on F-e...e. 'I ~ I TIIERE is no consideration for this conveyance. This conveyance is exempt from the imposition of real estate traDSfer taxes as the same is a conveyance from an Estate to beneficiaries pursuant I to a Family Settlement Agreement and from a Trust to beneficiaries pursuant to the terms thereof . and is further a conveyance by and among siblings. , together with the appurtenances: TO HAVE AND TO HOLD the same to and for the use of the I said Grantees, their heirs and assigns forever, and the Grantors, for themselves, their heirs and assigns hereby covenant and agree that they will WARRANT SPEClALL y the property hereby conveyed. I 11111111111I111111111111111111I1111I1111111I11I11 Inlll":;zaa:aee1?ee4"tUfj t611?121!M1l3 P:;2 co! 5 ":S44.ae 2,ew>l". T_ l'Iu,."",,,,, T2l11l\13.ae'-leI!2 W.1~.o".IVId c.c..,.,t.,.. lIteoo...rc . , i , -..J .. . ... ~ LEGAL DESCRIPTIO" ~ . I ] --l 1 I 0:, . , , I I 0" " " , ~ ;: Ol . ~ I F . , " r. , ~-~ . , ~- Ir -~ ...... .. .... ."", . \ I \ ~t'.., 'r,,,,,, ',.01 "''''i I r r-- . ,'t" r~ v' ! It; ,-,-~'j r~ '\.: ......... II [i '" ~ f1: ,'. __--:--.:r . ~', /.,". /..~ .....-:;.. ~ O! .~ . '.,."'" ~-_..:;""~::-....' .... / .' '.<:'" II I \.t .'lff"_ Lt' ~ ,i '~Jl_ ..~ L , J - , H t~ WESTMORELAND COUNTY TAX MAP H' I' , 1. ,j ~ t. Ii Page 19 .--- - . . . I . 12' Porch 30,3' . \111\\1111111\\1 ~ 16.5' Kitchen \ Living Room 16,5' First Floor rcdcr1 . 30.3' ~ 30.3' . I 111111111 Closet , BedRm~ ~ It- 16.5 16.5' Second Floor BedRm Bath C II 30.3' rl.. ~ 99BSF ~ ~ ~ ~ "Il'I .. . ., . ..- -- - .." .' BUILDING PERIMETER DRAWIN ';-:""~' .:-:::..,'~> .-.. .:~..,:":i ..' '.~~,.,:r'" ._':::0 ..>>'.' .. ~ n~E ';~~~~r~~ I 'C ." C. ..,:z ".. n :~ '. "a. ~ c . " ,.. 0'" .. ,."""",J ... ;.;.,~:.:.""'~ ['.' ;:a ;;; ;:a a.~.,~,;;,-;",-' ,--,':' t""::~ -'" . CO) ;:a _ .. ., ~..." ,I'" ,..,=-=:m .....;...-..-...:.2.,. '0 m;;:: (;) .. -'.,..". ,'" =-="~"'" .... :> . Cl -.... .'" ~.~ _. ,~" "..' , ~. a 00 .. '" .~, .~,.,,';::' ", ''''-~' _ ;:2' ~ ..,~., --,,,oj-. 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QUALIFICATIONS Page 21 I GARY L ClARlMBOLl I I am a licensed Pennsylvania Associate Real Estate Broker employed as a real estate appraiser at Hayden Appraisal Services, Suite 3, 225 Humphrey Road, Greensburg, Pennsylvania 15601. I Certified Residential Appraiser. EDUCATION I Graduate of the University of Pills burgh (1979) with a Bachelor of Science Degree in Administration of Justice. I EXPERIENCE I I have been actively engaged in real estate appraisal business since 1987 and licensed as a Real Estate Broker in October 1989 (License #AB,048860,L). STATECERTlFICATION ~ I am certified as a "General Appraiser" by the Connnonwealth of Pennsylvania, Department of State, Bureau of Professional and Occupational Affairs (Certificate #GA,OOI675,L) I MEMBERSHIP American Institute of Real Estate Appraisers (SRA Associate Member) ~ SPECIAL EDUCATION I 1. Real Estate Appraisal Principles' 1991 2. Residential Case Studies, 1993 3. Standards of Professional Practice Parts A & B ' 1996 I 4. Appraisal oflncome Producing Properties - 1998 I In addition, I have attended various appraisal seminars sponsored by the Appraisal Institute and other organizations. HISTORY OF EMPLOYMENT I 1. Real Estate Appraiser, Hayden Appraisal Services, 1987 to Present 2. WeslInoreland County Tax Assessment Office, Vice,Chamnan, Board of Assessment Appeals, 1985 to 1988. - 3. WeSlInoreland County Tax Assessment Office (Appraiser) 1980 to 1985 APPRAISALS COMPLETED I Mortgage appraisals for 1 to 4 unit residential properties, apartment buildings, vacant land, fanns and commercial properties. Special assignments include preparation ofnwnerous condemnation appraisals for the Greensburg ! North,South Bypass and for Allegheny Power Systems. ~ HAYDEN APPRAISAL SERVICES , , AGREEMENT OF SALE THIS AGREEMENT OF SALE (this "Agreement") is dated this _ day of , 2004, by and between THE ESTTE OF WENDELL K. PASS, WENEDEL YN K. MASTILAK and MARY LOUISE ANDREWS (collectively, "Seller") and QD WESTMORELAND, LLC a Pennsylvania limited liability company ("Buyer"), WHEREAS, Seller is the owner of a parcel of land containing approximately 113.2949 acres, more or less, located near Old William Penn Highway, Municipality of Murrysville, Westmoreland County, Pennsylvania, which is more particularly described on Exhibit A attached hereto and incorporated by reference herein. The foregoing property is hereinafter referred to as the "Property". WHEREAS, Seller desires to sell and Buyer desires to buy the Property upon the terms and conditions set forth herein. NOW THEREFORE, in consideration of the mutual covenants and conditions contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. PROPERTY. Seller hereby sells to Buyer and Buyer buys from Seller the Property upon the terms set forth herein, 2. PURCHASE PRICE AND DEPOSIT. 2.1 Purchase Price. The purchase price of the Property shall be Two Million Dollars ($2,000,000.00) (the "Purchase Price"). 2.2 Deposit. Upon execution of this Agreement by all parties, Buyer will deposit with Escrow Agent the amount of Ten Thousand Dollars ($10,000.00) payable to Seller only in accordance with the terms of this Agreement (the "Deposit"). 2.3 Holdinq of Deposits. Residential Title & Escrow Company shall serve as the Escrow Agent. Escrow Agent shall hold the Deposit in a separate, non-interest-bearing account. In the event Buyer elects to terminate this Agreement during the Study Period, Escrow Agent shall return the Deposit to Buyer within ten (10) days after receiving notice from Buyer that it has elected to terminate this Agreement. If this Agreement is terminated by Buyer pursuant to Section 4.6 for failure to satisfy any contingencies, Escrow Agent shall return the Deposit to Buyer within ten (10) days after receipt of notice from Buyer that this Agreement is terminated. If, after the Contingency Satisfaction Date, Buyer fails to acquire the Property within the time period specified herein and such failure is the result of a breach by Buyer of this Agreement, Escrow Agent shall deliver the Deposit to Seller. If. after the Contingency Satisfaction Date, Buyer fails to acquire the Property due to Seller's breach of this Agreement or any other reason, Escrow Agent shall return the Deposit to Buyer within ten (10) days after notice from Buyer that Seller has breached this Agreement or this Agreement has otherwise terminated for a reason other than Buyer's breach. 3. STUDY PERIOD AND INSPECTIONS. 3.1 Studv Period. For a period of ninety (90) days from the date of this Agreement (the "Study Period"), Buyer may conduct such tests, studies and evaluations of the Property that Buyer, in its sole determination, deems necessary. Such tests. studies and evaluations shall include but not be limited to Phase I environmental tests, soil tests, engineering studies and marketing studies. If. during the Study Period, Buyer, in its sole and absolute discretion, determines that Buyer cannot economically develop the Property for Buyer's intended use. Buyer may terminate this Agreement by delivering written notice to Seller on or before the expiration ofthe Study Period. Upon delivery of such notice of termination, this Agreement shall terminate, the Deposit shall be returned pursuant to Section 2.3 and neither party shall have any further liability to the other. Buyer shall pay for all tests. studies, evaluations and investigations conducted by Buyer during the Study Period. 3.2 Deliverv of Stud v Materials. Within ten (10) days of the date of this Agreement, Seller shall deliver to Buyer copies of any of the following items in Seller's possession or control: (a) Existing plats or surveys for the Property: (b) Existing engineering or architectural drawings, sketches, plans, designs or similar items; (c) Any Phase I or Phase II environmental reports; (d) Any notices or other correspondence relating to the Property from any federal, state or local authorities received in the last three (3) years: and (e) Written correspondence with any potential tenants or users and a list of all potential tenants or users contacted on behalf of Seller. 3.3 Test and Studies: Riqht of Entrv. From the date of this Agreement until the Closing Date, Buyer or Buyer's agents, representatives contractors or employees will have the right, without notice to Seller, to enter upon the Property to obtain or perform surveys, soil tests, percolation tests, seismograph studies, wetlands studies, environmental studies, architectural studies, engineering studies and all other tests or studies as Buyer, in its sole and absolute discretion, deems necessary. Such tests and studies will be performed at Buyer's expense, and Buyer agrees to repair all damage to the Property caused by such tests and studies within a reasonable time after the work is performed. In no event will Buyer permit any dangerous condition caused by such tests to remain uncorrected. Buyer agrees to indemnify and hold harmless Seller from and against any loss, damage or liability Seller may incur as a result of the performance by Buyer, or its agents, representatives, contractors or employees of any of the tests, investigations, studies or surveys provided in this Agreement. 3.4 Title Report. At any time prior to Closing, Buyer shall obtain, at Buyer's expense, a current title report for the Property. Buyer shall give written notice to Seller within twenty (20) days after receipt of the title report of those title exceptions or title defects which are not acceptable to Buyer. Any exceptions which are acceptable to Buyer are hereinafter referred to as the "Permitted Title Exceptions". Seller shall have fifteen (15) days from the receipt of Buyer's notice within which to provide Buyer with a letter from Seller's legal counsel setting forth the legal action or other steps which Seller intends to pursue in order to correct such title defects or remove those title exceptions which are not acceptable to Buyer. Within fifteen (15) days from receipt of the letter from Seller's legal counsel, Buyer shall provide written notice to Seller as to whether Buyer approves Seller's intended course of action with respect to such title exceptions. If Buyer approves the legal action or other steps which the Seller intends to pursue, Seller shall promptly and diligently pursue such action as set forth in the letter from Seller's legal counsel; provided, however, that Seller shall not be obligated to cure any defect prior to Closing that can be cured by the payment of money from the proceeds of Closing. If Buyer does not approve Seller's intended course of action, Buyer shall set forth in writing the actions which it requires Seller to take to cure such title defects and Seller shall have 30 days to undertake such actions. If Seller fails to remove those exceptions required by this Section to be removed on or before the Closing Date, Buyer may (i) elect to terminate this Agreement by delivering written notice to Seller and Escrow Agent, and upon delivery of such notice, Escrow Agent shall return Deposit to Buyer pursuant to Section 2.3 and this 2 Agreement shall be of no further effect, and neither party shall have any further liability to the other, (Ii) elect to extend the Closing Date by thirty (30) days, during which time Seller shall use its best efforts to remove such exceptions, (Iii) undertake such necessary actions itself and, at Closing, reduce the Purchase Price by the cost incurred by Buyer to remove such exceptions or correct any title defects or (iv) close on the acquisition of the Property notwithstanding the exceptions. If, after Buyer extends the Closing Date in accordance with the foregoing provision, and Seller does not remove such exceptions within thirty (30) days, Buyer may elect any of the foregoing options for as many times as necessary or until Buyer closes on the acquisition or terminates this Agreement. Title to the Property shall be insurable at standard rates, 4. CONDITIONS PRECEDENT TO BUYER'S OBLIGATION TO CLOSE. Buyer shall have no obligation to close on the purchase of the Property until the following contingencies have been satisfied: 4.1 Seller's ReDresentations. All of Seller's representations and warranties hereunder shall be accurate and there shall not be any breach of any such warranty. 4.2 DeveloDment Matters. The following development contingencies must be satisfied: a) A record plat for at least 100 residential units shall have been recorded among the land records Westmoreland County, Pennsylvania and all permits necessary to begin clearing and grading immediately after Closing shall have been issued. 4.3 Government ADDrovals and Permits. All permits, approvals waivers and exceptions required for the development of the Property in accordance with Buyer's intended use shall be upon terms and conditions as are acceptable to Buyer in Buyer's sole and absolute discretion. 4.4 Lack of AD Deal Riahts. There shall not exist any right of any third party to object by legal or administrative process to any approval, permit, authorization, license or agreement obtained by Buyer. There shall not be any proceedings in any court of any jurisdiction or any administrative agency with respect to the development of the Property. 4.5 Litiaation. The Property shall not be in violation of any governmental laws, ordinances, rules, or regulations or the subject of any court action. 4.6 Continaencv Satisfaction Date. The date upon which the contingencies set forth in items 4.1 through 4.5 shall have been satisfied shall be the Contingency Satisfaction Date. Each of the contingencies contained in this Agreement is intended for the sole benefit of Buyer and may be waived by Buyer in whole or in part. If any contingency has not been met within eighteen (18) months after the expiration of the Study Period, Buyer may elect to (i) terminate this Agreement, or (ii) extend this Agreement for two (2) periods of sixty (60) days each or until such contingencies are satisfied. Upon a termination of this Agreement pursuant to the foregoing, the Deposit shall be returned pursuant to Section 2.3 and this Agreement shall be of no further force or effect 4.7 Coo Deration bv Seller. Seller agrees to cooperate with Buyer, at no liability, loss or expense to Seller, in all submissions or applications to the appropriate government 3 authorities, to obtain permits, approvals, licenses, zoning variances or authorizations necessary to develop the Property in accordance with Buyer's intended use. Promptly after request from Buyer, Seller will execute such filings, applications, agreements, plats, instruments, documents or similar items so as to enable the accomplishment of all of the foregoing at Buyer's cost. To the extent reasonably possible. Buyer will execute and/or perform all filings, applications. agreements, plats, documents and similar items in Buyer's name. 5. REPRESENTATIONS AND WARRANTIES OF SELLER. Seller represents and warrants to Buyer as follows: 5.1 Good Title. Seller is the owner of the Property. As of the date of this Agreement and the Closing Date, Seller's title to the Property will be good and marketable, free and clear of all liens, encumbrances, leases. covenants, conditions, restrictions, rights,of-way, easements, reservations, options, tenancies, encroachments and other matters affecting title, except for (i) the lien of real estate taxes not yet due and payable, and (ii) the Permitted Title Exceptions. 5.2 Leases. No party has been granted any license, lease or other right relating to the use or possession of the Property or any part thereof. After the date of this Agreement, Seller will not, without Buyer's prior written consent, enter into any leases, lease modifications or contracts relating to the Property. 5.3 Litiqation. To the best of Seller's knowledge, there is no pending or threatened litigation or governmental action which would adversely affect the value of the Property to the Buyer orthe right of the Buyer to develop the Property. There are no facts material to the use and development of the Property which are known to Seller and which Seller has not disclosed to Buyer. Seller has no knowledge of any pending condemnation proceedings, suits, actions or claims materially affecting the Property, or Seller's right to convey the Property. 5.4 Other Aqreements. Seller will not during the pendency of this Agreement enter into any other option or contract of sale with any other party and will not during the pendency of this Agreement voluntarily take any action without Buyer's prior written consent, which would create a lien. encumbrance or easement upon, or otherwise adversely affect Seller's title to, the Property . 5.5 Hazardous Substances. To the best of Seller's knowledge, the Property (including the land, surface and subsurface soil, surface water, ground water, and improvements, if any) is free of waste or debris and is free of all contamination (with the sole exception. of any fertilizers and other chemicals utilized in the ordinary course of farming operations on Seller's Property), including: (1) any "hazardous waste" as defined by the Resource Conservation and Recovery Act of 1976, as amended from time to time, and regulations promulgated thereunder; (2) any "hazardous substance" as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from time to time, and regulations promulgated thereunder; (3) any substance the presence of which on the Property is subject to regulation as a potential environmental or health hazard by any law or regulation of an applicable governmental body similar to those set forth in this Section; and (4) any toxic or hazardous substances or materials. whether products or wastes. including, without limitation, asbestos. radon, PCB's, or oil or petroleum products. (All of the foregoing are collectively referred to herein as "Hazardous Materials"). In the event the Property is found to contain underground tanks. asbestos or Hazardous Materials prior to Closing, Buyer shall have the right to (a) at Buyer's option, to cancel this Agreement without any further liability on the part of Buyer, in which case the Deposit shall immediately be returned to Buyer; or (b) if Buyer elects not to terminate, Buyer may perform clean 4 up activities and deduct such costs from the Purchase Price at Closing based on the least expensive reputable bid quoted to Buyer by at least three licensed consultants. Seller agrees to notify Buyer immediately of any state of facts which would constitute a breach of or render inaccurate any of the foregoing representations and warranties immediately after becoming aware of such state of facts. 5.6 FIRPTA. Seller warrants that Seller is not a "foreign person" within the meaning of Section 1445 of the Internal Revenue Code and will execute an appropriate affidavit at Closing. 5.7 Other Matters. Seller has full right, power and authority to enter into, execute, acknowledge and deliver this Agreement and to perform Seller's obligations hereunder. Seller has no knowledge of any proposed or pending condemnation, change in zoning, roadway, water or sewer construction affecting any portion of the Property, nor of any graveyards lying within the Property. nor of any special or unusual environmental condition affecting any portion of the Property (such as landfill, Hazardous Materials, wetlands, flood plain or storm water retention and/or detention facilities). There is no legal or equitable interest in the Property owned or claimed by any person or entity other than Seller, except for interests to be terminated at Closing and interests specifically disclosed or permitted herein. There are no unrecorded agreements with governmental authorities or private parties which will affect any portion of the Property before Closing. Seller has no knowledge of any agreement for the transfer of development rights affecting any portion of the Property. 6. CONDEMNATION. If, at or prior to Closing, the Property or any portion thereof shall be condemned or taken, or notice of condemnation has been received, pursuant to any governmental or other power of eminent domain, or if any written notice of any such taking or condemnation is issued, or proceedings instituted by any governmental authority having the power of eminent domain, then and in any such events, Buyer will have the right to terminate this Agreement by giving Seller notice to that effect, in which event the Escrow Agent will promptly refund to Buyer the Deposit, whereupon this Agreement will be terminated and neither party will have any further liability to the other. If Buyer does not elect to terminate this Agreement, then Buyer and Seller agree that all condemnation proceeds and rights to condemnation proceeds will be assigned to Buyer on the Closing Date. If Seller receives any notices or correspondence regarding any pending condemnation or taking with respect to the Property, Seller will promptly notify Buyer of the matters and facts relating thereto and shall forward a copy of such notice or correspondence to Buyer. 7. CLOSING DATE ANP POSSESSION. 7.1 Closinq Date and Location. Closing under this Agreement shall occur within thirty (30) days after recording of a Record Plat among the Land Records of Westmoreland County, Pennsylvania (the "Closing Date"), provided that Buyer may elect to close earlier by delivering written notice to Seller specifying the Closing Date. Closing shall occur at a location mutually agreeable to the parties. 7.2 Pavment of Purchase Price. 5 (a) At Closing, Buyer shall pay Seller by cashiers or certified check or wire transfer the Purchase Price less the Deposit and Escrow Agent shall deliver the Deposit to Seller. (b) At Closing, upon payment of the Purchase Price, Seller shall execute, acknowledge and deliver to Buyer a deed containing covenants of special warranty and further assurances in proper form for recording, conveying good and marketable title to the Property to Buyer, in fee simple, free and clear of all liens, encumbrances, covenants, conditions and other matters affecting title, except for the Permitted Title Exceptions. (c) The parties shall also execute and deliver any other documents reasonably requested by the other party and customary for a transaction of this nature. 7.3 Prorations. Real estate taxes due or paid shall be apportioned between Buyer and Seller as of the Closing Date. Any delinquent taxes, penalties, interest and assessments then a lien against the Property shall be paid by Seller at Closing. 7.4 Recordinq Costs. Seller and Buyer shall each pay one,half (1/2) of the cost of the state and county transfer and recordation taxes and documentary stamps, and Buyer shall pay the cost of preparing and recording the Deed and all expenses of examination of title. Seller shall pay the cost of procuring any releases or similar instruments necessary to deliver good and marketable title to Buyer, subject only to the Permitted Title Exceptions. Seller shall pay any "clean and green" taxes which may be due. 7.5 Possession and Risk of Loss. Possession of the Property will be given to Buyer at Closing. Until Closing the risk of loss or damage to the Property, or any portions thereof, by fire or other casualty, is assumed by Seller. Seller agrees to maintain general liability insurance until Closing or earlier termination of this Agreement in such reasonable amounts as determined by Seller. 8. BUYER'S DEFAULT. In the event Buyer defaults in any of the terms, provisions, agreements or covenants to be performed by Buyer pursuant to this Agreement, Seller may elect to (i) disregard such default and proceed to Closing, or (iI) terminate this Agreement and the Deposit shall be forfeited by Buyer, paid over to Seller by Escrow Agent, and retained by Seller as fixed, agreed and liquidated damages and Buyer shall thereby be released and discharged from all liability and obligation accruing hereunder. A default by Buyer shall occur only if Buyer breaches any term, provision, agreement or covenant herein set forth to be performed by Buyer and Buyer fails to cure such breach within thirty (30) days following written notice to Buyer from Seller that such breach has occurred and the nature thereof. 9. SELLER'S DEFAULT. In the event Seller defaults in any of the obligations, conditions, terms and provision to be performed by Seller hereunder and fails to cure such default within thirty (30) days following written notice to Seller from Buyer, then and in such event, Buyer may (i) disregard such default and perform this Agreement by accepting the Property or any portion thereof in such condition as Seller is able to convey, or (iI) terminate this Agreement. receive a refund of the Deposit and pursue any and all remedies at law or in equity to which Buyer may be entitled by reason of such default, including without limitation, an action for specific performance. 6 10. MISCELLANEOUS. 10.1 Real Estate Commission. Seller and Buyer each warrant and represent to the other that it has not used the services of any other broker, agent or finder who would be entitled to a commission on account of this Agreement or the consummation of the transactions contemplated hereby and each party agrees to defend, indemnify and save the other harmless from any commission or fee which may be payable to any broker, agent or finder with whom the indemnifying party has dealt in connection with this Agreement. 10.2 Complete Understandina. This Agreement represents the complete understanding between the parties hereto and supersedes all prior or contemporaneous written or oral negotiations, representations, guarantees, warranties, promises, statements or agreements between the parties hereto as to the Property. This Agreement may only be amended by a written instrument signed by both Seller and Buyer. No requirement, obligations, remedy or provision of this Agreement shall be deemed to have been waived, unless so waived expressly.in writing. 10.3 Applicable Law. This Agreement shall be given effect and construed by application of the laws of the Commonwealth of Pennsylvania. 10.4 Headinas. The headings of the Sections hereof are provided only for convenience of reference, and shall not be considered in construing the contents hereof. 10.5 Time of Essence. Time shall be of the essence of this Agreement. 10.6 Disclaimer of Partnership Status. Nothing in the provisions of this Agreement will be deemed in any way to create between the parties hereto any relationship of partnership, joint venture or association, and the parties hereto hereby disclaim the existence of any such relationship. 10.7 Notices. Any notice, approval or consent to be given under the provisions of this Agreement shall be in writing and shall be sent to the parties (postage prepaid, certified or registered mail, return receipt requested), hand delivered against receipted copy, sent by Federal Express or equivalent overnight delivery, or transmitted by facsimile transmission as follows: If to Buyer: QD Westmoreland, LLC c/o Quillen Development, Inc. 7 West Ridgely Road, Suite 100 Lutherville, Maryland 21093 Facsimiie: 443-279,0991 If to Seller: Each party shall have the right to designate a different address for the receipt of notices other than that set forth above, provided the party's new address is contained in a written notice given to the other party. 10.8 Assianment. Buyer may, prior to Closing, assign its rights and obligations under this Agreement to any party without obtaining the prior consent of Seller. Seller may not assign this Agreement. 7 10.9 Successors and Assiqns. This Agreement. and the rights, obligations and duties of the parties hereto, will be binding upon and inure to the benefit of the personal representatives, heirs, legal guardians, successors and assigns of the parties hereto. 10.10 Attornevs' Fees. In any litigation between the parties to enforce any provision or right under this Agreement, the unsuccessful party covenants and agrees to pay to the successful party all costs and expenses incurred by the prevailing party in connection with the litigation including, but not limited to, reasonable attorneys' fees. 10.11 Waiver of Jurv Trail. Each party hereby waives any right it has to trail by jury of any action arising from this Agreement. 10.12 Survival. The provisions of Section 5 and this Paragraph 10.12 shall survive Closing and the execution and delivery of the Deed for the Property. Witness: Seller: ESTATE OF WENDELL K. PASS By: Anne Pass, Executrix Wendelyn K. Mastilak Mary Louise Andrews Buyer: QD Westmoreland, LLC By: Quillen Development, Inc., Its Managing Member 8 FileNo. SUMMARY APPRAISAL OF THE PROPERTY LOCATED AT Franklin Street Export. PAl 5632 as of June 28, 2002 for WesleyT. Long, Esquire 101 West Pittsburgh Street Greensburg, P A. 15601 by Hayden Appraisal Services 225 Humphrey Road, Suite 3 Greensburg, PAl 560 1 Hayden Appraisal Services 225 Humphrey Road, Suite 3 Greensburg, PA 15601 724-837,4824 March 26. 2003 WesleyT. Long, Esquire 101 West Pittsburgh Street Greensburg, PA. 15601 Property. Franklin Street Export. P A 15632 Owner- WENDELL T. PASS ESTATE FileNo.- 49f5700 Dear Mr. Long: In accordance with your request. I have made a Complete Appraisal Analysis and prepared a Summary Appraisal of the real property located at Franklin Street, Export, P A. The purpose of the Summary Appraisal is to estimate the market value of the property described in the body of this report. Enclosed. please find the Summary Appraisal which describes certain data gathered during our investigation of the property. The methods of approach and reasoning in the valuation of the various physical and economic factors of the subject property are contained in this report. An inspection of the property and a study of pertinent factors, including valuation trends and an analysis of neighborhood data, led the appraiser to the conclusion that the market value, as of June 28, 2002 is : $220,000 The opinion of value expressed in this report is contingent upon the Limiting Conditions attached to this report. It has been a pleasure to assist you. If I may be of further service to you in the future, please let me know. Respectfully submitted, Hayden Appraisal Services ~cJ: ~J,<~' GARY L C R1MBOLl PA Certification #GA-OQ1675-L Pro~rtv O..crIDtIDn Complete Appraisal Analysis - Summary Appraisal Report FII. ND. AOf'';:'7M UNIFORM RESIDENTIAL APPRAISAL REPORT PropeI'lyAddress Franklin Street City Exnort Slate PA ZijlCode 15632 LegafDetcrlptlon DBV 3292 Pan-e 007 PBV 90 Pan-e 2226 Parcel 2 Murt"\lsviIle County Westmoreland A$S8UOI"s Parcef No. Part of 49-15.00.0.140 Tax Year 2002 R.E_ Ta~es $ 4 13050 Special AlUssmen" S Non , ,_. CurrenlOwner F'Tj WFNDFT' T P ^" Occupant I I ONner Txl- Tenanl I I Vecant pru_rightsalKlnllslld X feeSimple I Leasehold ProjeclTvoe '"0 -- I I Condominium (HUDNA on"" HCA' ..,. N.,;ghborhood or Project Name Exnort Area Map Reference Part of 49.15.0.140 Cell$usTract 8020/6280 ~IePrIce , NOT APP Date 01 Sa\e June 2002 08'SCrilltionandSamovntofloenchargestconcessionslobepaidbyseUer NOT APPLICABLE ~"" WeslevT. Lena Esnuire Addresll 101 West Pittsburo-h Street Greensbura PA. 15601 ......... >A'V Tl Address ,""",,'Ipn 4.... ra' ,,^n Location W Ulban --00 Suburban ~ Rural p,.-.lomlnllnl SlnglslamllylHMlllng Prslsnt land u.. % LanclUlsdllngS Bul\I up 90% 00 Over 15% 0 25-15% [J Under 25% occupancy PRICE AGE 70 DNolLlkely [X]Ukely S(OOO) (yrs) OoeFamily~ """"".. DRapld [X] Stable OSlO'" [Xl...... 95% ~ '"W~ W,m ~ Dlnproceas Propertyvllues Olncreaslng [X] Stable OOecOnlno DTenan! 05%1250+ High 9 Mulll-farriy ~ To: Residential sincrle Oemel'ldl.upply 0 Shortage ~ Inbaiance R ~ersupPly I ~~acan!(O'5%) - Predorninanl Commerelal 15 familv Marlletlnll Ume n Under 3 mol. X 3-6 mos. Over 6 mos VeCBn!(0IIe<5'1oJhoSIn "5-7 v",."...t 1 NoM:~lndthe_lIlcomposlllonoflhsns19hbortlooda" nolappral..lfaclotl, NeighbortIoodbollndarlellndCharacter\stics: Kemerer Hollow Road to the north Ital" Road to the east Berlin Farm Road to the south and Hills Church Road to the west Factor1l IhBl at'fecl the mall<.etablllty 01 the propertlllS in lI1e neighborhood (pnJJlimlty to employmenl and amenlllel, employment slilbllity, appeal 10 markel, ete.): , Sunnlv and demand a.......ear to be in eouilibrium in the sub' ect area and "'rice ranne. Mort2:aae rates and terms are affordable levels. . AveraO'e market time for a sinale familv home in Westmoreland Countv isannroximatelv 84 daw:. accordi;;-to statistical data of the West Penn Multi-List. Normal market time in the sub'ect area is 90-120 da"s. . . . Mal'ket condlllons in Ihe subJect neighborhood (Including support lor the ebove conclusions relaled tD the trend Df prDperty values, demanlllsuP!lly, and marlleting lime _ lIUCh al deta on CAlIllpetlllv1l properties lor ule in the neighborhood. descripliDn 01 the prevalence 01 ealell and financing concessiDM, eIl;.): ~ub'ect is adjacent to the small BorouO'h of Ex"'ort in the Municinalitv nfMurrvsville. NeiO'hborhood shows a mixture of older two stor" sincrle f"milv homes du....lexes commercial and indu"-trial uses. Acrricultural uses a"e inters"'ersed throuC!'hout. H;"'mes in the area !;,how averane maintenance. Non residential uses are removed with no value imnact. However subiect home is an overimnrovement for the area beina laraer in size than tvnical of the area. There are similar hot ,,'n wpd f W v"J1lP "rlvpr"ph, ;""'....",.t" v ProjsctlnfDrlMtlonforPUOI (If appllcabllll-Is lI1e develDperlbulde< in control Df the HDM>B Ownlll'll' AsSQCleUDn (HOAI? Uves UND ApprOllImalelolalnumberolunllsinll1esubteetpmjeet NOT APP :-= Approxlmalelota1numberolunil:sforealelnll1esub)eclpro}acl NOT APP. . OelCribecornmonelemenl:slllldruetflatiDnallaclWlies: NOT - 200Fx31 L37LSx201.76Rx37259RS TDPDIr-'phy Gentle <;:.10""" S.._ 1.5765 acres (See Attached Plot Plan) COmerLDt UV"I-OOND ... Good SpeclrlCUIlllngclalsiflcallonenlld~ Rural Residential s.... Jrrem'lar ZoningCAllllpliance 00 Lelllll F,;1,LegalnonconfnnglGtandfalharfJdUSBl U IIegal U NDZOOing Orainallll A.......ears Adenuate Hi!I>Il8l&bestUHaslmproVe<:!: X PresentUSB Olher uee (explalnl VOW A veraae ""... Public ""~ OIf..lIslmpr""smenll '''' """" "",. Landscal*1O A veracre ........ IX] s..., Asohalt* IX] 0 OmeweySurlace As....halt Go. IX] Curb/gutter None 0 0 Apparen!e.allllTlflnts Gas LinelT 1tilitv* w.o. IX] SIdewalk None 0 0 FEMA Special Flood Huard Area ~ .:es 00 ND Sanitary sewer ~ Streetfighlll None R R FEMA ZDne "X" Map Dale 8/5/97 S__ .''Y None FEMA Map ND. 42129C0192.D Comments (apparenl adveree e.aslllTlerllS, encroachments. lpeclal assessmenl5, lIlide areas, Ulelllll or legal nDnCOnformlntl zoning use, etc.): Gas line easement is removed with no value imnact. Tvnical utility ea..ement with no value imnact. No other annarent adverse encroachments or *** <;:1"1' .. ... GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION . 1 Cone. Block None MleSq.FI. 1615 R"" 0 No. of Unlls FoundatiDn S.b ND.DfSlories 1.5 ExterlorWalls Brick Crawl space None %Flrilhed None eo"" -IX] Type (DeLlAlt.l Detached RDOfSurlace Shinale Ba_n1 Full- 100% Ceiling Ex....Joists w... -IX] DllIlgnISt).te) 1.5 Slo~ Gullere& Ownsplll. Aluminum SumpPump None Wale Cone. Block Floor -0 EllistioWPropDsed Existin~ WIndDWType Wood DH Dampness None Obsv. Floor Cnncrete None -D AIIB(Yrs.) 5 uears Storm/Screens NoNes s.....'" None Obsv. OulsideEntry No Unknown~O Effective A (Yre.) A ..,,~ ManulacluredHouH .,..T.... lnfestaUon .,..1':.... ""\C~. ,,^, . ROOMS ''''' Llvl"ll 0.... Kildlen o~ FamilyRm Ree.Rm. "'~ .".. Laundry """ AreaSq.FL ....- 1 Storanp 1615 . Levell 1 1 1 1 1 1 2.0 Nook 1615 Level 2 3 2.0 1070 Finlshedaru .bows NSllecontalns: o RDoms; A Bedrooms; 4M Baths; S NFeetofGrossLMnoAre.a INTERIOR MalerialllCondition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE; . """ Vin l/WW / A verane '''' FWA RefrillBrator 0 ,~ 0 Fireplace(sl# LR 00 ,- 0 w... Plasterlr."od ,~, Gas RangelDVfJn 0 SO" 0 Pallo Rear -00 ""''' #oIcers TrlmIf"h Wood/Goorl ConlIltlon (;ood 0_ IX] OropSIalr 0 0.. 0 ^,,,,,,, 2 ...- Vin"VGood COOLING Dishwasher IX] ....., IX] eo"" Front IX] Detached Bath w."",,,,,, FiberC!'lass/Good Central Yes fenIHDOd IX] ,,~ 0 ,~~ 0 au/lI-ln .,.,.. Wood/Good ""~ None Microwave p Hu'" R ''''' 0 C_" Coodltkln r;nn~ Walhe</D Finished 0...... 'on'"" Additional flllllures (special energy efficient itsms, ek;.): Front covered norch 6' X 29'8". Rear concrete natio. Aluminum soffit & fascia. Two car attached brick narane 26' X 28', 200 AMP electric service. "''''* See Additional Comments **'" . Condillon 01 the ilT1llfDV8menls, depredallon (phylical, IunctiDnat, end external), repairs needed. quality of collllrucllon, reroodelingradditions, ete.: No nhvsical or functional inadenuacies. External obsolescence on the subiect home bein'" an over imnrovement for the neiahbnrhood with surroundinfl" "'redominant smaller homes. Ad_ envlronmenta.l condlllons (such as, but not llrnIted tD, hazan:lous wasles. toxic subelances, ete.) present in the improvements, on the IIlle, DI' In Ihe Immecliale vicinity Df the 1iUbjec! property.: None aO,oarent Please refer to certification. statement oflimitimz conditions and environmental F<WddleMs"Fcwm1D8-93 '2CH PAGE1OF2 FannleMaeFcwml0046-D3 Hayden Appraisal Services Complete Appraisal Analysis. Summary Appraisal Report V.lu.Ur:-n Section UNIFORM RESIDENTIAL APPRAISAL REPORT FileNO'. ESTIMATED StTE VAlUE ..~ $ 23 000 Comments ". Cost AWroacl1 ''"'" ... '00= . ~, eslimatll, ESTIMATED REPRODUCTION COST-NEW.QF IMPROVEMENTS' site value. square foot calculaUon and lor HUD, VA and FmHA, the . """"" 2 685 SlI.Ft@$ 74.65 ., 200.435 estimated remaining economic lire of the property); BSMT 1615 Sq.FI@$ 10.75 . 17.361 COST SOURCE IS MARSHALL VALl IA TlO~' SERVI Porch Patio '" 5.590 SEE A IT ACHED DRAWING FOR FLOOR PLAN AND Gara~rport ~Sq.Ft@$ 23.50 . 17.108 snUARE FOnT CALCULATIONS. TotalEstimlltedCO&tNew ., 240.494 l_ 5.7pl1yaical Functional 10.0 E~tamal . D9pnlCiaUon 13.708 I I 22 679 ., 36387 DepreeiatedVamoflmprovemenlB ., 204 107 .~.VakleofSlhllmprovemenlB ., 3500 INDICATED VALUE BYCOST APPROACH "" ^nn ., 2'0 07 R i :-;;: jAr: .M " ,,::~;. ITE" SUBJECT COMPARABLE NO.1 COMPARABLE NO, 2 COMPARABLE NO.3 Franklin Stree 1007 General Forbes Drive 6966 Berkshire Drive ~217 Manordale Drive "".u MiIKilIerU~'sVille Mu~sville MUlTVsville ProJ:lmitytoSubject 2 Miles-SW I Mile.SE I Mile,SE SaI"Priee , NOT APP '250 000 , 223 000 , 229. price/Gro$lrllv,Area , NOT APP [Il, 96.15 [Il '96.96 [Il , 91.24 [Il oataandJor Inspection Data Files/Multi-List Data FileslMulti-List )ata Files/Multi-List VerllicationSouroe Ins;"'ection MLS/Aoent MLS/AO'ent \ALS/Aoent VAlUE ADJUSTMENTS DESCRIPTION DESCRIPTION I ~HSAd)ustmenl DESCRIPTION I ~ (_}SAdjuslrnent DESCRIPTION ~HSAdjustment $ale. or Finlrnclng Convntl/None Convntl/None :onvntl/None """"..... DOM,I DOM-363 ~OM-26 Oate 01 SaIe!Tlme Anril 2002 Anril 2002 une 2001 L="'" Suburban lC;;uburbanlSuner ,20 000 Suburban/Su"'er ,20000 uburbanl""unPr -2000 LesuhoIdlFeeSlmple ee Simnle Fee -~imnle ee Simnle ee Simnle ". 1.5765 Acres 2.3 AcreslLarn-er ' ,5000 Irren-ffinual ,0 rren-fr;nu",1 .0 """ vera oe 1Averaoe 1Avera[le veraO'e DeslgnsndAppeaI L5 Sh Brick Sh, Brick .0 2 8t" Brick ) ,,"tv Brick QualilyofConslruetlon "ood "iood lGood Good ... 5'"fEf4vr 21 ,"fEnual 1'9,w/lOnual lO,wfEnual ""'.... ~ood :Tood !Good Good AboveGnrd. ToIBI' Bdms' Baths Total' Bdms'Baths ToIel' Bdms' Bellis Total'Bdm;'BeIhll . ...,,"""" 9 4 . 4.00 8 4 2.5 +2,500 8 4 . 2.50 . +2,500 9 4 2.5 +2,50 Qros.L.Mng...... 2685 Sq.FI. 2600 Sq.FI. -0 2300 Sq.FI. +13 475 2510 Srl.FI. +6125 BafM*ll & FIrIished ull Full Full . Full . RoomI Below Grade I Tnfinished : Jnfinished Rec RrnIO.5 Bath: .2500 Unfinished FunctlonlIlUIlllty "ood ood :-;'ood ood . HeaUr9CooIing hFWAlCAC "FW AlCAC GFWAlCAC !GFW AlCAC Energy EftIeient Ilems hood Good r..ood Inood Gara~rport Car Attached Car Attached 2 Car Attached Car InteOTal +400 Porch. Patio. Deck. 1P0rch,Patio orch,Patio Porch,Patio orch,Patio FIreplaee(s).elc. f.:.irenlace 2-Firenlaces .2500 Firenlace irenlace F8I>C9,PooI.etc. Lan~"caninl! . "ndsca"'inn- andscaninn- Landscanin'" ~nnIS/Extras' 'nnlsiExtras. <nnls/Extras' N'"''I.(''' I . IXI.., -25000 I. IX." -6525 I. Ixl.., .7375 Ad)u.ted Sales Price Gross 12,0% Gross 17.3% Gross 14,2% of COmparable Net -10.0% $ 225000 Net -2.9% $ 216475 Net -3.2% $ 221625 COmments on Sales COmparison (inelulllng the .ubject pt(ll)8IIy's compatlblity to the nel~bol'hood. ele.): ALL SALES ARE VERIFIED rU"SED TRANSACTIONS. All sales are in sunerior residential neiO'hborhoods in Murrvsville within the same school district. Sales were considered enuallv in arrivin'" at the o"'inion of market value. SEE TIME DISTANCE AND S"UARE FO"T ADDENDUM A TT ACHED .~ale I has a lar':"er land area with similar utilities, Sale 2 has a smaller land area with----;}l utilities. Sale 1. has a smaller land area with all utilities. ITE" SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 ~te.Prlc:eendData ONE ~one None None Souroe,lorpriorsales w1lhin year of appnrisel EED rrax Records Tax Records Tax Records Anatysl. of ;any current ;agreement of sale, optlon, or li.ting of the subject proparty 3nd ;analysis of any prior sal" of .ubJect and comparable' within ona )'$lIr of !he data 01 aPlll3Iaal: Sub;ect "'ro"'''''''' is not currentlv listed for sale or under a......eement. To our knowled"e none of the comnarable .l;ales are correnti" listed nr under ;';:;;;;ment. rNDlCATED VALUE BY SAlES COMPARISON APPROACH ........ ........... ...................-.... . $ 220 00 INDICATED VALUE BY INCOME APPROACH (W &nn1k:able} Eslimlllted Markat Rant $ ,"'... ........ 'Mo.~GrossRentMllIIl..... lI.UYT' ADD =$ ThlsaPlll3IsalI.made lXJ ...Is" U .~c;ttotherepalrs,aR..ations,lnspectionsorcondltlonslistedb8low U subject to eompletlon per plans and speclfIealons. C::illonsolAppraisal: Annraisal is made in "as is" condition. See attached assum...tions/limitinn- conditions. This is a "Com"'lete .....raisal - Summa":;'- Renort" as defined bv USPAP. . Fhal Rec:ondllation: Both Moaches indicate similar values. Income a.......roach is not a.......licable due to insufficient available data. Most consideration was Q:iven to the sales com"'arison a"'~ roach as it renresents the actions of uvers and sellers in the onen . marke-Iace. u*SEE ADDITIONAL COMMENTS"''' l11tt IUJlOH of \hIs appraisal i. to eslimllllrl the markat val... of the real prtlIIerty \hat is \he sutotect of \his report. based on \he above eondlUon. and \he certlflcation, contingent antl limiting conditions, and market value definition thilt a,a stated in the attached Freddie Mae Form .39JFannie Mae Fonn 1004B (Revised 6/93 ) I (WEI ESTIMATE THE MARKET VAlUE, AS DEFINED, DF THE REAL PROPERTY TtlAT tS THE SUBJECT OF THIS REPORT, AS OF June 28 2002 (WHICH IS THE ;TE OF INSPECTlON AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 220.000 APPRAISER: _ ~ ~ J. i . SUPERVISORY APPRAISER \ONlY IF REQUIRED): . S/grIaIln ~ -t/ti --e \. SI~tur8 0"" D Did NoI N.~ GAR L. ofARIMBOLI Name InspectProparIy OateReportS'-"; /' March 25 2003 ~teR89(lItSlgned StateCertlfleation' GA-001675.L Slate PA SlateCertiflcation' Stall OrSlalelk;ense' Slale QrSlalellcenH# Slate F...-M.cF"",,70S.\13 12CH PAGE2OF2 F.nni.M..FormlD04 fI-II3 Hayden Appraisal Services PmpertyAddrtlll& '" Ex rt County Westmoreland s.. PA Zip Code 15632 lendert)(CIi"m W MARKET CONDITIONS IN NEIGHBORHOOD The overall appeal of the neighborhood is average but the appeal for the subject is below average. FRANKLIN REGIONAL SCHOOL DISTRICT. SITE Lack of off site improvements is typical with no value impact. Landscaping of lawn, shrubs, concrete walks, etc. NOTE: Subject property has road frontage on Old William Penn Hwy and Franklin Street. Current access is via Franklin Street which is maintained by Murrysville. ADDITIONAL FEATURES Humidifier & electronic air cleaner. Glass block basement windows. Security system. Thermopane windows. Skylights. Intercom system. Cathedral ceiling in family room. Jacuzzi in master bath. COMMENTS ON SALES COMPARISON TIME & DISTANCE ADDENDUM: Subject is located in a suburban area of Murrysville adjacent to the small Borough of Export. Its location reflects a stable population base. It appears that this population trend will continue in the future. There has been little recent resale of existing similar style homes in the immediate subject market area. Therefore, it was necessary to use sales over one mile distant and sales that closed over six months ago in time. Market values have remained stable in the market area since June 2001. There has been no measurable appreciation or decline in values during this time period. The comparable sales used are considered to be the most recent and in closest proximity to the subject available. They are reliable indicators of market value for the subject property. PRICE PER S.F. ADDENDUM: A thorough search of the courthouse records, multi-list and appraisal files for comparable sales reflective of the subject's present status (style, age, size, etc.), revealed no sales which would be consistent with the price per square foot guidelines. It has been determined that the subject's price per S.F. is incongruous with the most similar sales within the immediate market area. The same findings are true of competing neighborhoods when the search for comparables was expanded to include other locales. The sales utilized, therefore, are felt to be the most recent and best available indicators of value. CONDITIONS OF APPRAISAL This appraisal report is prepared for the sole and exclusive use of the appraiser's client, Wesley T. Long. No third parties are authorized to rely upon this report without the express written consent of the appraiser. The appraiser is not a home or environmental inspector. The appraiser provides an opinion of value. The appraiser does not guarantee that the property is free of defects or environmental problems. The appraiser performs an inspection of visible and accessible areas only. Mold may be present in areas the appraiser cannot see. A professional home inspection or environmental inspection is recommended. FINAL RECONCILIATION The property was inspected on March 22, 2003. The effective date of the appraisal is June 28, 2002, the date of death. As such, the value conclusion is a retrospective opinion of value. This appraisal is also bassed on a hypothetical condition which is contrary to what exists but is supposed for the purpose of this analysis. The subject property is part of a larger tract of land (114.871 acres). In the instance of this appraisal the subject site considered is 1.5765 acres with the 1.5 story brick single family detached dwelling. See attached plot plan. Appraisal assumes that a subdivision would be granted by Murrysville. March 25. 2003 ~~A~~' DATE Hayden Appraisal Services " USPAP COMPLIANCE ADDENDUM BorrowerorOMler W NDELL T. PASS ESTATE Pf'OIl"fIyAddreSll Franklin Street CI. EXDort COunty Westmoreland Slale PA Zip Code 15632 l8l'l6trorClent WeslevT. Lona:. Esauire .. . -, . I The oumose of this aooraisal is to nrovide an oninion as to the market value of the subiect nropertv as defined within this renoh. I The intended use of this renort is for estate settlement Dumoses. Scope of the Appraisal In the re aration of this renort the annraiser has made a ohvsical insnection of the subiect site includinl7 the interior of the subiect measurine the subiect takino nhotooraohs and detailed notes so as to be adenuateIv familiarized with the nronertv an describe the nronert annraised. The subiect's immediate and local neil1hborhoods were also insnected to nrovide a basis in th determination of the local and economic characteristics and trends. This information was analvzed in order to document the various environmental social. 110venunental and economic factnrs that influence the value as it relates snecificallv rel1ardinl1 t e suhiect nronertv. Data rel7ardinv the sales of imnroved nronerties were collected and verified bv narties of the transactions includimr lenders. Irrantors """"'nte...s aoents and/or attomevs. The valuatinn of this orooetv does include consideration of the sales cost and income annroaches to value. the annroaches were then reconciled into a final estimate of value. If anv of the annroaches were omitted an exnlanation can be found in the reconciliation section. . .. . . . . . ... IstheSl.tljeclprope!tyaul'antlyhled? W '~!.l>JN' Utt Price: S NOT APP H~slhe propertysold duriogthll prior year? o Yes IX] No ffyes,dflScribebelow Exposure Time Whal is your estimate of 8JCposure Iim, ft)( the lul:ljBct property? 90 _ 120 Davs OlIlcribllblllowlhe basls (ralionale)ft)(yourestlmale? A reasonable marketin 1 neriod of 3 to 4 months has been nroiected based on information of the West Penn Multi-List Service and indenendent data researched bv this office. . .. Does the lransaction involve thllll'anster of pen.onal property, fixture., or lntan~s thai are not rea! property? UVM UNo lIY9s,provided~lIonandvilluationbelow NOT APPLICABLE AdditIOnal Limiting Conditions or AdditIOnal CommC'nts The site value estimate is based on anal is of site sales and abstraction of site values from sales of im roved o erties. the sub'ect is a sin Ie famil residence located in a redominatel owner-occu ied area. the lack ofrentaI data and the lack of sa I s of rented dwellin s make meanin ful rental and ss rent multi lier conclusions im ossible therefore the income roach was ot lied. is a raisal re oft is re ared for the so e and exclusive use of the a rise scien W T.Lo . N third a ies are authori to rel u on this re oft without the ex ress written con ent of the a raiser. The a raiser is not a home 0 environmental ins ctor The a raiser r vides an 0 inion of value. Th a rai er doe n t uarantee that the ro e is fre of defects or environmental blems. The a raiser erfonns an ins ecHon of visible d accessible areas onl . Mold ma be resent in as the a raiser cannot see. A rofessional home ins ection or environmental in ection is reeo ended. Additional Cer1lflcatlon Statements or Additional Comments No one rovided assistance in the re aration of this re ort. THIS IS A "COMPLETE APPRAISAL-SUMM RY REPORT AS DEFINED BY THE REVISED JANUARY 1 2003 UNIFORM STANDARDS OF PROFESSIONAL APP ISAL PRAC ICE lSS ED BY THE APPRAISAL STANDARDS BOARD OF THE APPRAISAL FOUNDATION. This a raisal conforms t the niform tanda s ofP fessional Practice SP AP ado ted b the A raisal Standards Board of the A rai Foundation exce t that the De arture P vision does not a I.Thero rt was ins ected on March 22 2003. The effective date of the a raisal is June 28 2002 the ate of death. As such the value conclusion is a retros ective 0 inion of value. T is a raisal i also a h othetical condition that which is contra to what exists but is su osed for the u ose of this anal is. The sub' , ro ert is art ofa lar er tract ofland I 14.871 acres. In the instance of this a raisal the su 'ect site considered is 1.5765 acres with the 1.5 sto brick sin Ie famil detached dwellin . See attached lot Ian. A raisal as urnes that a bdivision w uld be nted b Mu sville. Ollte: March 25 2003 APllI'iIiser{l) Oate: RevlllWApprai$er(I)' Copyright (c) 199-4 SllfIwBreft)(Real Eslllle ProfMSional1 Hayden Appraisal Services FileNo , SKETCH ADDENDUM B~,<<"""" WENDELL T. PASS ESTATE Pf'OpIIrtyAdd'Il$& Franklin Street '" Ex rt County Westmoreland Stale PA Zip Code 15632 lendert)(CIienI W 23.1' ,- ~. 21." ~ 1'1..'1''''''' - T_Co.A"- -~ '- n.S' 2. _nr . n.' w ~" ~ ~ ~" EJ -.- w U ,:~SQ'FTiAREA~'ili?, PERIME.ER:'i J.j\;o:l,.. 'AR 'C , LlvlngArea Flrsl Floor FlrslFloor 1615 194 23.2 X 35.1 = 814.3 Second Floor 678 122 9.3 X 25.8= 239.9 Second Floor 392 84 2.0 X 21.8= 43.6 Subtotal 1070 206 6.0 X 21.8= 130.8 Total 2685 400 17.6 X 19.5 = 343.2 9.0 X 4.8= 43.2 Tolar 1615.0 Second Floor 32.2 X 20.0= 644.0 4.0 X 4.3= 17.2 4.0 X 4.3= 17.2 Total 678.4 Second Floor 14.0 X 28.0= 392.0 r ~"'.~".'if!l;'..,r\i:;,:.:\'i.\t:'1:,;;,-;;'ru';;J;<".,h f(,>. ~j:,,,,~ ... ' . 8!(ETCi''''T'__5.l:l<<'~ Hayden Appraisal Services .' II SITE PLAN BOrTOWefor QwMr WENDELL T. PASS ESTATE F'roplll1yAddress Franklin Street c,. EXDort Counly Westmoreland Sial.. PA ZipCodll 15632 lllndert)(CfenI I ~\ , \\ II Q '~\ O~ ~\,:[~ W 2STr. fRAME H.\E. .. / k"~ /1 .......... ,7 .......... -~. . ,., _l'o'~CQ.~ . , -.~(""t", 44..( /1 "" .......... _ ""'l9Y :' N\F ART..,R DUFf <T. AL. / I PARCn. I IP- _ --_ ,., , ., 583- 24''t'-' '1. --......y.., 113..29-49 ACRES ,"""" ... ~ - ...&.~ /' . 201.,76' ...., :"'00 '...... - ." ~ .II r 0 ET.AL. ,- . d . :.......(: ............... . I!~h -,-1,..:: () " " ',WEIClIl.l T..ASS ET.AL '" \t:.- ";>? ,/"J. ,I " ~' ..... . ~;;t:1~~ _J , O'I.rr;........... ........... It) "<d. -.. "" """..... .......... "', / ~ '--------- " " ~~;... If) "Allcn~ Z. i FRAHKbJN 1<40'J STRrO , -.J..... ..... - -' U76$ U / Q " ~, -..... G~ \;f ll,'''t &0 r'{. 'ft )1' '?~. -,'< ./~/'''' ~:-'" ~.....--~~, '( @ OJ "'~~ '. ,~,...,- wEN"llT..ASSET.AL " " ..... 120" ORJVE: (COAL ALLEY! " "". ~ ','- lP. ""~...... , . .............. ~ ........................ II.//?f;- ..............._liw,........- -..... ....... ..~. 1 RAlLIlOAD ....- H;JV(If'n ^nnr:1i<::11 Sf'rvk,..<: .. i r c~'~~~'--'::*-,___,j____~~_~_._.___.__. --------.,.-------------------- _ _________1 ! I LOCATION MAP ~,~ Ii, f r i' ~ ' / d~') f#' ~. r ~>1 n \ .~, \. ........ /1 "'. f f l' ~..c 1 .~- } L..-c"",,' ...".--", /,"1 ,. "'" II c.t.;;,,~cJ:r""""// ~ ~'" ~EC~! l~ f",< / II ./J=..-,=. ..... " ~"""" .......... . /ll1 . l ; '"7 " ,-\ ,'...~ l j ,'... r,".~; .y~~" Exoori I{;;~ / ......' . j~-... """. , ....\ ''1 ! """'ik.-'.' "c' ,\ '".i/" -", i ~ ' I" Ii' Q..;'I~~~""""~ / V . 'i''''''' C'lJ f " 1\ ,'" ,~""" <., ",~ ~~ /i"/ 'Ii --,-"'t <<:::~::-dt':C~~,{ __-----= I /.~ "..-~~.-.,~,s;fV ~1'lD I .\. ~ V" // \\, '. \\.-/ '. \', ~ .'----.. /\:-, \, II \\ \, \ 11., , \ , ~ .\~ I ' \>.. /, \\ rMI'~ ..//'t) \ / '. .. /, \ I '\ \ ~ '\ J_-.I \ .>> II \\ ) I' _..~~st8tIon 1\ 'I Q '" , \ "" ./ // ~ I, f "~ }/ -'/1 / ;/ I I' \. II? ..' I', ,<' /1/1 .zj ~I/ .! /! ,Iii 1 .,1 / ,;::; ",~\~\__<< ,.'I / ,/1 Ii \"\)/ . Ii 'i I, ,/ ./' .____>1 \ +Wyell " '"' \\ ~ \',', /',,,, I ~~~ // \\ l \ . ... .,..-.",{ ,\ I j t .. \) . i 'I f\. ~ . , \ I ....... \ /" / \ II ~~ClUllryCtub,& ~ II ii j, I ot"'I./ jl~n " II rl I t,)<",l I / !I _ae.l-DtlIlD-- - , II -MEUONRD I -~ o 1998 DeLorme. Stmll Alias USA "" Mag 15.00 . TueMar2511:252003 Small Town Scale 1:15,625 (at center) ~ Locale I 1000Feet I + PrivateAlrport 1--__500 Meters Cemetery I Woodland - RiverlCanal - LOClII Road US Highway Ra_d 0 Polntoflnferest , I "-------------- .-...----,.___ ______._........___n__ _.._.u..____._. ....______ __ ___.__________._n__ -....-..-----..-.-- tmoreland SI8le PA Zlpcoo. 15632 FRONT VIEW OF SUBJECT PROPERTY REAR VIEW OF SUBJECT PROPERTY STREET SCENE OF SUBJECT PROPERTY Hayden Appraisal Services " . " PHOTOGRAPH ADDENDUM BOITOWMt)(Ownllf WENDELL T. PASS ESTATE PropertyAddrtllls Franklin Street City Ex ort C~" Westmoreland Stale PA Zip Code 15632 lendoror Chnl Wesle T. Lon Es uire COMPARABLE #1 1007 General Forbes Drive Murrysville Price $250,000 Price/SF 96,15 Date April 2002 lR M1Ul4 arn F2 Pl 50 my p """'- Age A21 yr/Equal ~ Ml4X14BDAM$. os, R<XlF',lSPHAI. KIT M24X14 MS U 17X13 I Y F1BI!RGLA Cl CEN Room Count 8-4-2,5 FA Ml8Xl. JBIl U llXl. FP 2 FRIGM W PU S PU D" 3SA U "X12 FlRSCT.HW.W AS sa Living Area 2,600 GA .SR U 13X12 CiA 2 ATTIGR TAX so ", " , "' . MAINT . , HCLS RF.a5.OW.DS.PA.WW.MP. CONS-m T'l'P E Vlluclndlutlon $225,000 " .. " JO.12 IUNI'OJICWAOO'L,J,IIKrDStQIl4GEI.Ml!R SOlD S250.00lI &a.OD"TE """" :$OI.OlI!RMS sa JfGOF~ICE ~ CHIN -CATHERINE M&ROV lJAAMMElLJA. SAC 3.0&2.5 com CHERYL H. P 724-327.{l123 ICD N S CHER'l'l HARCHlICK P 724-327.7555 SAC 0 W . .' S 229,900 COMPARABLE #2 6966 Berkshire Drive MurrysvilIe Price $223,000 Price/SF 96,96 - Date April 2002 LA M17X12BlH FJP2SC my p '000. DR M1JXU BDRMS .. as Y FlNISHD ROOF OTHER Age A9yrlEqual Kif M2OX12 illS U l1X12 1 Y FlBI;RGUl Ct. CEH FA M2OI:12.28R U13X12FP 1 FR W PU S PU Room Count 8-4-2.50 "'" 3SR U lU12 FlRSCT.WW.V AS S50.m Living Area 2,300 GA L 27X11 .aR U 12)(12 OA 2 AnlGR TAX 14.m , INCI..S DW.DS.PA.Kl.WW.MP CONSTRTYP ~ V.lu~lndk.tlon $216,475 , IIIrW......e4THQ.lIatoCI'ICUTOl'WND..8fI.,.i_.....T1lO\ 00.0 1223.ClOO. IOI.DDATE 0tI2II02. , - . ~ , ~ OWN TlMOTMY MOAAOWICAAOL MoVlMO BAC3.0 : ~c.:'==~g p 7U4Z7-D444 co N p 724425-32" SAC 10 , COMPARABLE #3 2217 Manordale Drive Murrysville Price $229,000 Price/SF 91.24 Date June 2001 Age A 10yr/Equal Room Count 9-4-2,5 Living Area 2,510 V.luelndlutlon $221,625 . - tart'T.1MT!I.LA : .neRE1AIAfiR!u.l; , Hnvn(':1l Annr:1i<:ill Service.': .' iO II LEGAL DESCRIPTION ._","""" WENDELL T, PASS ESTATE Property Address Franklin Street CIty Ex"'ort County Westmoreland Slats PA ZipCodll 15632 lenr:lllrorCl~ Wesle T. Lon" Esnuirc BEGINNING at a point in the Northerly lIne of the rIght of way of the Turtle Creek Valley Railroad Company at the Westerly line of W. Plummer Duff's Plan of Lots; thence along the Northerly line of the right of way of the Turtle Creek Valley Railroad Company by a curve bearing to the North and Ilaving a radius of 1106 feet, 529.1 feet to a point; thence by same North 50 degrees, 35' West, 555.7 feet to a stake at corner of land of Wilson E. Cline; thence by land of Wilson E. Cline and crossing the William Penn Highway, North 12 degrees, 10' East, 180 feet to 8. point; thence by same North 24 degrees, 57' East, 175.5 feet to a stake; thence by land of W.J. Remaley, North 11 degrees, 19' East, 259.5 feet to a fence post; thence by same and lands of Ira E. Kemerer and Victor Barber, North 16 degrees, 46' East, 382 feet to a fence post: thence by land of H.A. Fitzsimmons, North 14 degrees, 26' East, 143.1 feet to a white oak; thence by same, North 17 d~grees, 10' East, 590 feet to a stake: thence by same, Harth 84 degrees, 14' West, 27} feet to a point in the Easterly line of a public r.oad; thence by a line in said road, North 5 degrees, 51' East, 1403.6 feet to a point in said road: thence by a line in an old road (now vacaterl), South 52 degrees, 20' East, 260 feet to a point in said old road; thelice by land of Hrs. Sarah J. Hill, North 67 degrees, 11' East, 1191 feet to a fence post, corner of .lond of Andy Bebalo, formerly John Kemerer; thence by land of ^ndy Bebala, South 4 degrees, ~O' East,. 83.3 feet to a stone; thence by sam~, South 75 degrees, 11' East, 1183.6 feet to a stake; thence by s~me, South 1 degrees, ~15' East, 246.2 feet to a stake; thence by same and land of Kenneth E. Sleek, South 50 degrees, 57' West, 2330.5 f.eet to a stake; thence by tand of Kenneth E. Sleek, South 45 degrees, 51' East, 528.3 fp.et to a stake; thence by same South 18 degree.c;, 31' West, 650 feet to a stake; thence by land now or formerly of Robert Duff Ileirs and W. Plummer Duff Plan of Lots and crossi~g William Penn Highway, South 17 degr.e.es, 38' West, 923 feet to t.he place of beginning. H:Jvrlrll l\nnt':Ji~:l' <::(',.\';....~ FileNo. 49f57oo 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 acling prudenliy, 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 IIl1e from seller to buyer under condlUons 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 lime 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 sotd unaffected by special or creative financing or sales concessions. granted by anyone associated with the sale. .AdJustmenls to the comparabtes 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 ell sales transactions. Special or creallve financing adjustments can be made to the comparable property by comparisons to financing terms offered b, a third pa'" Institutional lender that " no' already inVOlved In "'. properly or transaction. An, adjustment Should no' ba calculated on a mechanical dollar for dollar cost of the financing or concessions 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 cerllflcatlon that appears In the appraisal report Is Subject to the following conditions: " 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 IlIle is good and marketable and. therefore, will not render any opinions about the tllle. The property 15 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 properly 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 be~ehand. 5. The appralsar has estimated the value of the land In the cost approach at its highest and best use and the improvements a. their contributory value. Th. separate valuations of the land and Improvements must not b. used In conjunction with any other appraisal and are Invalid If they are 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 ~1orI of the subject property or that he or she became aware of during the normal research Involved In performing .. ~. Urne.s otherwise stated In the appraisal report, the appraiser has no knowledge of any hidden or un.~t c:ondatone of the property or adverse environmental conditions (Including 'h. presence of hazardous wastes, toxic substances. etc.) that would make the property more or less valuable, and ha. assumed that there are no such conditions and makes no guarantees or warranties. express or Implied. regarding "'. condlllon of the property. Th. appraiser will not be responsible for any such conditions that do exist or for any engineering or tesllng 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 en environmental assessment of the property. " The appraiser obtained the Information. estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items thai were furnished by other parties. 6. The appraiser wlll not disclose the contents of the appraisal report except as provided for In 'h. Uniform Standards of Professional Appraisal Practice. 9, The appraiser has based his or her appraisal report and valuallon conduslon for an appraisal that Is subject to satisfactory completion, repairs. "' alterations on "'. assumption "'., completion 0< 'h. improvements .". b. performed In a workmanlike manner. '0, The appraiser must provide his or her prior written consent before the lender/client specified In the appraisal report can dIstribute 'h. appraisal report (Including conclUSions about "'. property value, "'. appraiser's identity and professional designations. and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or Its succesaors and assigns; U'le mortgage insurer; consultants; professional appraisal organIzations; any state or federally approved financial InstItution: or any department, agency, or instrumentaJlty of the United Slates or any slate or the District of Columbia; except thai 'h. lender/dlent may distribute "'. property description section of the report only '0 da.. collection or reporting servlce(s) without having <0 obtain 'h. appraiser's prior written consent. Th. 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 of2 Fannie Mae Form 1004B 6.93 FileNo. 49f5700 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: " 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 wheo appropriate '" retleet Ihe market reaction 10 those Items 01 significant variation. If e slgnitlcant Item In a comparable property is superior to. or more favorable than. the subject property. I have made a negative adjustment 10 reduce the adjusted sales price of the comparable and. if a slgnltlcant item In a comparable property Is Inferior to, Of 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. 1 have not knowingly withheld any significant Information from the appraisal report end I believe, to the best of my knowledge. that alt statements and Information In the appraisal report are true and correct. 3, 1 stated 10 Ihe appraisal report only my own personal, unbiased, ,od professional analysis. opinions, eod conclusions, which are subject only to the contingent and llmlllng 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 andlor the estimate of market value In the appraisal report on the race, color, religion. sex, hendlcap. famlllal 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 dlent 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 andlor 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 1 developed is consistent with the marketing time noted '0 Ihe neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8, I have personally Inspecled the Interior and exterior areas of Ihe 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 condlUons '0 the subject Improvements. on the subject site, or on any site within Ihe 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 markel evidence to support them. I have also commented about the effect of the adverse condlllons on the marketablllty of the subject properly. 9. I personally prepared all conClusions and opinions about the real estate that were set forth In the appraisal report. If 1 relied 00 significant professional assistance from ,oy individual Of individuals 10 Ihe performance of Ihe appraisal or the preparation of the appraisal report, I have named such indlvlduai(s) and dlsdosed 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 authorl:zed anyone to make a change to any item In the reporl; 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: 1 directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report. agree with the statements and conduslons of the appraiser. agree to be bound by the appraiser's certifications numbered 4 through 7 above. and am taking full responsibmty for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: Franklin Street EXDort P A 15632 APPRAISER: SUPERVISORY APPRAISER (only If required): Slgo,"~ ~~ d: ~~....t. Signature: Name: GARY ~ MBOLI Name: Date Signed: Ma 25 2003 Date Signed: State Certltlcallon #: GA-001675-L Stale certification #: orStateUcanse#: or State Ucense #: Slate: PA State: Explratlon Dale of certification or Ucense: JUNE 2003 Expiration Date of Certification or License: DDid D Did Not Inspect Property Freddie Mac Form 439 6-93 Page20f2 Fannie Mae Form 10048 6-93 Hayden Appraisal Services PRU: Historical Prices for PRUDENTIAL FINL - Yahoo! Finance Page I of2 Y.A.HOO!,FINANCEW Finance Home - Mv Yahoo! - J Thursday, March 4, 2004, 2:14pm ET - U.S. Markets close in 1 hour and 46 minutes. Welcome, Guest [Sian In] To track stocks & m Quotes & Info Enter Symbol(s): I GO I Symbol Lookup I Finance Seard e.g. YHOO, ^DJI Prudential Financiallnc (PRU) At 1:54PM ET: 48.04 ... 0,43 (0, '1O! Waterhouse 'fi,/ Trade commission. free ,------' - for up to S wc('k~ .).:_ . QQ.en an account . 25 commission-FR.e.E....tr:aJ1es. . .$l....Ir:ades ODen w/$500 , G<>LE.re.~>..lQLal'1Qntb . Ge.tERo.E-J:eaHimeMt<L . Free Dow...l9Jl~.e.~.sL Historical Prices Get Historical Prices for: ]GOI SET DATE RANGE AOVERTISEMENT @Daily iOilSqOO S49noo Start Date: Jul 8 2003 Eg, Jan 1,2003 () Weekly $5085 00 $5198.00 o Monthly $5311.00 End Date: Jul 8 2003 $5424J)0 o Dividends Only [ Get Prices ] First I Prev I Next I Last PRICES Adj $1ll<l6,oo Date Open High Low Close Volume $1119.00 Close* $7232.00 $13~5 .00 8-Jul-03 35,08 35.49 34.89 35.45 2,287,200 34,97 $705800 $7SU.OO $7684 .00 * Close price adjusted for dividends and splits. f7'l'1OO 7'110,00 First I Prev I Next I Last $8023.00 , $3l)6oo I A J:)Q_\'!DJQ1!~U9~Rreadsheet $8209.00 S8362...00 $8475 00 $8588.00 $8701.00 $&11400 http://finance,yahoo,com/q/hp?s=PRU&a=06& b=8&c=2003 &d=06&e=8&f=2003&g=d 3/4/2004 March 31,2004 Mrs. Anne Pass, Executrix 42 Woods Drive Mechanicsburg, PAl 7050 RE: Wendell Pass Royalty Value Dear Mrs, Pass: This is in response to your phone call requesting the value of Wendell Pass's royalty, Our royalty is based on the production of a well. Through the years a well's production has the tendency to decline. According to the industry standard, the evaluation of a well is calculated by taking the last twelve months of income times three years. The royalty paid on all seven Pass Wells the last twelve months, from March 2003 through February 2004, was $20109,56, Using this information and the industry standard, the total value of all seven gas wells royalty would be $20109,56 times 3 years = $60,328,68. Since Wendell Pass owns 1/3 of the royalty on the seven wells, then his value would be $60,328.68 divided by 3 = $20,109,56. If you have any questions, please call me at (814) 226-4160 extension 125. Sincerely, !l1en/.1e SCa/tckoc.-t Denise Sandrock Royalty Accountant DKS Enclosure PO 80X 765 . 633 MAYFIELO ORIVE ' CLARION, PENNSYLVANIA 16214-0765 1-800-821-4911 814-226-4160 ~ 814-226-9582 . . SCHWAB Account Statement Retain for Your Records Roth Conversion IRA Statement Period: May 1, 2003 to June 30. 2003 Account Number: 2070-3178 Last Statement: April 30. 2003 Visit our website ~wab.com " ---------.- Accourii-Openedln:2001 Questions? Call '431>-4000 Page 1 Press: I-Quotes, 2- Trading, 34Account Services, 4-New Accounts, 5-0ther Inquiries 3OI06-CN6H1802-Q13169-SML.1705027470071252713 . WENDELL K PASS 0 CHARLES SCHWAB & CO INC CUST ~ w ROTH CONVERSION IRA ~ 42 WOODS DRIVE Ol - co - MECHANICSBURG PA 17050-2747 - - - - - 1 Account Value Summary I I Change In Value Summary 1= Cash & Sweep Money Market Funds $ 2,541 ,23 Change in Value Since April 30, 2003: $ 5,798,94 - Investments $ 59,023,36 Change in Value Since January 1,2003: $ 13,456,01 - - 1 Total Account Value $ 61,564.591 --- - --- - I Rate Summary 1- Schwab MMF 0.46% - """"'" --- - = """"'" 1 Investment Detail ,= Quantity Descriotion Svmbol Lana/Short Price Market Value Cash and Money Market Funds (Sweep) . 0 SCHWAB MONEY MARKET FUNO SWMXX 2,541,2300 L $ 1 $ 2,541,23 0 0 0 ~ Investments w ~ CMGIINC CMGI 300 L $ 1.5100 $ 453,00 Ol co CISCO SYSTEMS INC CSCO 2,200 L 16,7900 36,938,00 0 ~ CORNING INC GLW 800 L 7,3900 5,912,00 0 '" JDS UNIPHASE CORPORATION JDSU 380 L 3.4970 1,328,86 Z . JUNIPER NETWORKS INC JNPR 100 L 12.4700 1,247,00 MARCH FIRST INC MRCHO 500 L 0,0010 0,50 NOKIA CORP SPON ADR F NOK 800 L 16,4300 13,144,00 1 ADR REP 1 NOKIA CORPS I Total Account Value $ 61.564,591 I Transaction Detail I Sellle Trade Date Date Transaction Desc';Dtion Quantitv Price Total Cash Activity 05/15 05/15 Dividend SCHWAB MONEY MARKET FUND $1.20 . ~ ~ :f-4S 00. ,~ .-i?-~ C7' (!P7~ v 102002 Charles Schwab & Co., Inc. All rights reserved. Member: SIPCJNew York Stock Exchange. CRS 21270 (0001-0386) STP 1 0479R'2-02{03/0Q) r~"'U1An?.Jl1'l1"'a ,?C;?,'1 I-=.... _' CMGI: Historical Prices for CMGI INC - Yahoo! Finance Page 1 of2 YAaOO!e,FINANCEW Finance Home - Mv Yahoo! - ~ Thursday, March 4,2004, 2:16pm ET - U.S. Markets close in 1 hour and 44 minutes. Welcome, Guest [Sian In] To track stocks & m Quotes & Info Enter Symbol(s): I GO 1 Symbol Lookup 1 Finance Searct e,g YHOO, 'OJ! 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Welcome, Guest (S19.n...lnJ To track stocks & m Quotes & Info Enter Symbol(s): I GO I Symbol Lookup I Finance Searct e.g, YHOO, ^DJI Juniper Networks (JNPR) At 2:08PM ET: 25.2594 ~ 0,0006 (0, , '10: Waterhouse S'O.9-91nternet ,,!,. ~ equity tra.e< -A: , QRl'JLarLo.=nt '$.l.JJ:aJJe.s Ooen ViL$.5.Q.Q . ~Qffimls_slQ..!l:"FREE tra~-.S. . Ge.tJ:@e Trades for a Month . ~tL1.QJle.s-1>J~\o'LS1,_ . Ame.Li,trade Strearn..e~ Historical Prices Get Historical Prices for: IGOI SET DATE RANGE ADVERTISEMENT. @Daily Start Date: Jut 8 2003 Eg, Jan 1, 2003 o Weekly End Date: Jul 8 2003 o Monthly o Dividends Only [ Get Prices ] First I Prev I Next I Last PRICES Date Open High Low Close Volume Adj Close' 8-Jut-03 14,00 15,00 13,97 14,85 18,077,500 14,85 . Close price adjusted for dividends and splits. First I Prev I Next I Last A J:)9"'io!oggIQ~QLei!~beet http://finance, yahoo,com/q/hp?s= JNPR&a=06&b=8&c=2003&d=06&e=8&f=2003&g=d 3/4/2004 MRCHQ,PK: Historical Prices for MARCHFIRST INC - Yahoo! 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UsIng Any First I Prey I Next I Last Computer MJ29-'!tDload To_S-Rr!lg>!J;_tLe.~l ...and now with your wireless device. ~~ilf 'Free http://finance,yahoo ,com/qlhp?s=MRCHQ ,PK&a=06&b=8&c=2003&d=06&e=8&f=2003", 3/4/2004 NOK: Historical Prices for NOKIA CORP - Yahoo! Finance Page 1 of2 YAgOO!~F'NANCE~ Finance Home - Mv Yahoo I - J Thursday, March 4, 2004, 2:26pm ET - U,S. Markets close in 1 hour and 34 minutes. Welcome, Guest [Sian In) To track stocks & m Quotes & Info Enter Symbol(s): I GO I Symbol Lookup I Finance Seard e,g, YHOO, ^DJ! Nokia Oyj (NOK) At 2:06PM ET: 22.64 l' 0,37 (1, 101 Waterhouse $10.9glntetnet -,,- ~-~ equity trad.. ' . ~ an account . 25 commission-FREE tra..d.e.s. . $7 Trades Ooen w/$500 . ~ Free Trades for a Mo.nth '8meri..t.!:ad-e...str:ea~ . frn.e.l)ow Jones News.L Historical Prices Get Historical Prices for: IGOI SET DATE RANGE ADVERTISEMENT @Daily Start Date: Jul 8 2003 Eg, Jan 1, 2003 o Weekly End Date: Jul 8 2003 o Monthly o Dividends Only [ Get Prices ] First I Prev I Next I Last PRICES Date Open High Low Close Volume Adj Close' 8-Jul-03 16,96 17,70 16,94 17,69 19,554,000 17,69 * Close price adjusted for dividends and splits. First I Prey I Next I Last A Downlo~IQJiQ.readsh"!l.t http://finance, yahoo,com/q/hp?s=NOK&a=06& b=8&c=2003&d=06&e=8&f=2003&g=d 3/4/2004 COMMONWEALTH OF PENNSYLVANIA . STATE EMPLOYEES' RETIREMENT SYSTEM 30 NORTH THIRD STREET. P,O, BOX 1147 HARRISBURG, PENNSYLVANIA 1710B-1147 TOLLFREE: 1.800-633-5461 www.sers.state.pa.us August 26, 2004 MS LISA J KNODE PARALEGAL TO JEFFREY A ERNICO METTE EVANS & WOODSIDE ATTORNEY AT LAW 3401 NORTH FRONT ST PO BOX 5950 HARRISBURG PA 17110-0950 Re: Wendell K. Pass SS# 209-32-2684 Dear Ms. Knode: This is in reply to your correspondence dated July 13, 2004, regarding the above deceased account, Anne H, Pass is receiving a monthly benefit from a survivor annuity under Special Option #4, which was elected by Mr, Pass at the time of his retirement. Under this survivor annuity option, there was no "value" of Mr. Pass's account at the time of his death. However, his designated survivor, Anne H, Pass, was entitled to receive a monthly benefit during her lifetime with all payments to cease at her death. In the event Mr. Pass's designated survivor would have predeceased him, all payments would have ceased with his death. I trust this satisfactorily answers your inquiry. If we can be of further assistance, please contact our office at (717) 783-7306. Sincerely, '~\A^-<-- E ~ . v Marianne E. Sebastian Benefit Determination Division COMMONWEALTH UF PENN~YLVANIA STATE EMPLOYEES' RETIREMENT SYSTEM HARRISBURG REGlONAL COUNSELING CENTER 30 NORTH THIRD STREET, ROOM 319 HARR1SBURC\ PA 17101 717 783-9065 1-800-633-5461 FAX: 717-783-9599 www.sers.state.pa.us July 22, 2003 Anne Pass 42 Woods Drive Mechanicsburg PA 17050 RE: Wendell Pass SSN: 209-32-2684 Dear Ms Pass: We have been informed of the death of Wendell Pass who has been receiving a monthly annuity from this System under Special Option #4 in the net amount of $3712,09, We wish to extend our condolences to you at this time, Under ,this, option, you will receive an approximate gross monthly annuity in the amount of ( , $3100,35 fOr the rest of your life, ..-" Attached is the Required Information needed to process this account. Please complete all information as well as the enclosed Federal Withholdina Tax form [form W4-P], This form must be completed even if you don't intend to have federal income tax withheld from your annuity check, Please be advised that it will take several weeks in order for you to begin receiving annuity checks in your own name, Payment will be made retroactive to include any checks you may have missed, If you have not already done so, please mail us a certified copy (or original) death certificate, Please return the required information in the enclosed self-addressed envelope, If you have any questions regarding the account, please do not hesitate to contact me, Sincerely, ~ (Jotan Linda Dolan, Administrative Assistant Harrisburg Regional Counseling Center Enclosures Register of Wills of Cumberland County, Pennsylvania INVENTORY Estate of Wendell K, Pass No, 21-2003-0730 also known as Date of Death July 8, 2003 late of Silver Spring Township, Cumberland County, Pennsylvania , Deceased Social Security No, 209-32-2684 Personal Representative(s) of the above Estate, deceased, verify 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. IMle verify that the statements made in this Inventory are true and correct. IM/e understand that false statements herein are made subject to the penalties of 18 Pa. C.S. Section 4904 relating to unsworn falsification to authorities. Name of Personal Representative: Attorney: Jeffrey A. Ernico, Esquire Z:7?~ 1.0. No,: #07981 Address 3401 N, Front SI., PO Box 5950, Harrisburg, PA 17110 Dated: tPe-f. /-1-. ~~ , Telephone: (717) 232-5000 " ,- DESCRIPTION iJJ~VA~E REAL ESTATE: ~.', ..c::", D 1, One-third interest as tenant in common in real estate situate in Derry Township, ~1,666,67. Westmoreland County, PA; tax parcel number 45-05-00-0-014 -, C>:J 2, One-third interest as tenant in common in real estate situate in Derry Township, . ::"?66,666,67 Westmoreland County, PA; tax parcel number 49-15-00-0-140, ;".) J:,; 3, One-third interest as tenant in common in real estate situate in Derry Township, 0>, 73,333,33 Westmoreland County, PA; tax parcel number 49-15-00-0-247, PERSONAL PROPERTY: 1, 2000 Toyota Sienna XLE 17,655,00 2, 109 shares Prudential common stock at $35,19 per share 3,835,71 3, Cash distribution owed to decedent's estate from the Alice V, Pass Estate, File 35,541,23 No, 65-02-1462, Westmoreland County 4, Kriebel Gas & Oil - One-third share of value of gas royalties for wells located on 20,109,56 real property in Westmoreland County, PA TOTAL 868,808,17 (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. 408168v1 V Form RW-1 (Dauphin County)-Rev. 9J92 COMMONWEALTH OF PENNSYLVANIA '* DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES NOTICE OF INHERITANCE TAX INHERITANCE TAX DIVISION PO BOX 280601 APPRAISEMENT, ALLOWANCE OR DISALLOWANCE HARRISBURG, ~ 17128-0601 OF DEDUCTIONS AND ASSESSMENT OF TAX REV-1541 EX AFP [09-04) LL. C) ~ o en <... .J" I--cc DATE 12-27-2004 UJ =:..J 0" - C) -- a:: . ---=;;; -')c: ESTATE OF PASS WENDELL K L.L... ....' 2: t...L (-.... [ ~ L.L. <r - -' ,-- DATE OF DEATH 07-08-2003 C) Ou C} C~.L:~ 0" ~ v: FILE NUMBER 21 03-0730 LL_i.;_'~_\ ~--7 N UJ"'-~ COUNTY CUMBERLAND t.-::J t..--:-: JffiFREVi:~~NICO ESQ a: ~,~. ACN 101 0(...':) c') l5:! ~;~~X E~~~ I Allount Rellitted I ~ HIJ'I! PA 17110 MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~ REV=i54-j-EX--AFP--COY:03Y-NOi"-icE--OF-YNHER-ifli.fCE-i"AX-APPRA-isEirENT~--ALrowlNcE-c'-R----------------- DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX ESTATE OF PASS WENDELL K FILE NO. 21 03-0730 ACN 101 DATE 12-27-2004 TAX RETURN WAS: (X) ACCEPTED AS FILED ( ) CHANGED RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN 1. Real Estate (Schedule A) (1) 791.666.67 NOTE: To insure proper 2. Stocks and Bonds (Schedule B) (2) 3,835.71 credit to your account, 3. Closely Held Stock/Partnership Interest (Schedule C) (3) .00 subllit the upper portion 4. Mortgages/Notes Receivable (Schedule D) (4) .00 of this forll with your 5. Cash/Bank Deposits/Misc. Personal Property (Schedule E) (5) 73.305.79 tax paYllent. 6. Jointly Owned Property (Schedule F) (6) .00 7. Transfers (Schedule G) (7) 542,407.03 8. Total Assets (8) 1,411,215.20 APPROVED DEDUCTIONS AND EXEMPTIONS: 36,822.50 9. Funeral Expenses/Adll. Costs/Misc. Expenses (Schedule H) (9) 10. Debts/Mortgage Liabilities/Liens (Schedule I) (10) .00 11. Total Deductions (11) 36.822 50 12. Net Value of Tax Return (12) 1,374,392.70 13. Charitable/Governllental Bequests; Non-elected 9113 Trusts (Schedule J) (13) 814,330.67 14. Net Value of Estate Subject to Tax (14) 560,062.03 NOTE: I~ an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will re~lect ~igures that include the total o~ ALL returns assessed to date. ASSESSMENT OF TAX: 15. Allount of Line 14 at Spousal rate (15) 560,062.03 X 00 = .00 16. Allount of Line 14 taxable at Lineal/Class A rate (16) .00 X 045 = .00 17. Allount of Line 14 at Sibling rate (17) .00 X 12 = .00 18. Allount of Line 14 taxable at Collateral/Class B rate (18) .00 X 15 = .00 19. Principal Tax Due (19)= .00 TAX CREDITS: ,,~-~~. \+J AMOUNT PAID DATE NUMBER INTEREST/PEN PAID (-) TOTAL TAX CREDIT .00 BALANCE OF TAX DUE .00 INTEREST AND PEN. .00 TOTAL DUE .00 iii IF PAID AFTER DATE INDICATED, SEE REVERSE ( IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED. FOR CALCULATION OF ADDITIONAL INTEREST. IF TOTAL DUE IS REFLECTED AS A '"CREDIT'" (CR), YOU MAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.) ~~\<- COMMONWEALTH OF PENNSYLVANIA . BUREAU OF INDIVIDUAL TAXES DEPARTMENT OF REVENUE INHERITANCE TAX DIVISION NOTICE OF DETERMINATION AND P.O. BOX 280601 HARRISBURG, PA 17128-0601 ASSESSMENT OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN REY-483 EX AFP (09- 04) DATE 12-27-2004 ESTATE OF PASS WENDELL K DATE OF DEATH 07-08-2003 FILE NUMBER 21 03-0730 COUNTY CUMBERLAND JEFFREY A ERNICO ESQ ACN 201 METTE ETAL I Amount Remitted I PO BOX 5950 HBG PA 17110 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 portion of this form with your tax payment. CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR FILES ....... ---------------------------------------------------------------------------------------------------------------- REV-483 EX AFP (01-03) -- NOTICE OF DETERMINATION AND ASSESSMENT OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN __ ESTATE OF PASS WENDELL K FILE NO.21 03- 0730 ACN 201 DATE 12-27-2004 ESTATE TAX DETERMINATION l. Credit For State Death Taxes as Verified .00 2. Pennsylvania Inheritance Tax Assessed .00 (Excluding Discount and/or Interest) 3. Inheritance Tax Assessed by Other States .00 or Territories of the United States (Excluding Discount and/or Interest) 4. Total Inheritance Tax Assessed .00 5. Pennsylvania Estate Tax Due .00 TAX CREDITS: PAYMENT RECEIPT DISCOUNT (+) f"o,.J; AMOUNT PAID 2 <:::> DATE NUMBER INTEREST/PEN PAID (-) c:::;J :::u ..",..0 <:J""J rTl c:o-o C- O > c:> :c!:c -- -=S,! .,..!):> - :z: - ~,~~j ~ .-. '''1 ci;; a ---"1 .,_...,,1 " C--.?C) '. ") (::5 :r.>- I '"f ~'t~ -n ,- ~._r-- -...... ,-/ :0 \.D {~5 :f!~ ..1 W 0 \.0 "n TOTAL TAX CREDIT .00 BALANCE OF TAX DUE .00 INTEREST AND PEN. .00 C tJ~" TOTAL DUE .00 ~ *IF PAID AFTER THIS DATE, SEE REVERSE SIDE (IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED FOR CALCULATION OF ADDITIONAL INTEREST. IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU MAY BE &K DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.) STATUS REPORT UNDER RULE 6.12 ~ Name of Decedent: Geraldine M. Pipher Date of Death: 8-31-03 Will No. Admin. No. 21-03-750 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 No x 2 . If the answer is No, state when the personal representative reasonably believes that the administration will be complete: wi thin one year 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 b. The separate Orphans' Court No. (if any) for the personal representative's account is: c. Did t.he personal representative state an account informally to the parties In interest? Yes No d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Cerk of the Orphans' Court and ma~tfr~4 b Date: tJ'..arch 1, 2005 Charles E. Shields, III oJ Name (Please type or print) () j .. --- 6 Clouser Road, Mechanic sburg , PA 17055 ........... - Address , ('i'') (717 ) 766-0209 Tel. No. . ,- Capacity: Personal Representative X I Counsel for personal representative (MAH: rmf I AM3) ) - "...'"----~--"._"_.__.._>.- COMMONWEALTH OF PENNSYLVANIA '* DEPARTMENT OF REVENUE BUREAU OF IIIIIVIIIU~tq,Jfu:D OFFICE OF NOTICE OF DETERMINATION AND ItllERlTaNCE TAX DlVISIotCCt:i(;1EQ ASSESSMENT OF PENNSYLVANIA PO lOX 280681 ; .L,...',..d 1, ESTATE TAX BASED ON FEDERAL HARRISBURG PA 11128-0601 CLOSING LETTER .n-7~ .1 AFP UI-lliU ZOfl511AY 16 PH 2: 44 DATE 05-09-2005 ESTATE OF PASS WElNDELL K CLERK OF DATE OF DEATH 07-08-2003 ORPHAN'S COURT FILE NUMBER 21 03-0730 COUNTY CUMBERLAND JEFFREyCA!~eUl4::~" PA ACN 202 METTE ETAL I Mount R_lttlld I : PO BOX 5950 HBG PA 17110 MAKE CHECK PAYABLE AND REMIT PAY~ENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 NOTE: To insure proper cr.dlt to your 8Coount, sub.lt the upper portion of this fo~ with your ~ p.y.-nt. CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR FILES ~ ; ----------------------------------------------------------------------------------------------------~----------- REV-736 EX AFP (01-02) .. NOTICE OF DETERMINATION AND ASSESSMENT : OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL CLOSING LETTER .. i ESTATE OF PASS WENDELL K FILE NO.21 03-0730 ACN 202 DATE 0 -09-2005 ESTATE TAX DETERMINATION I 1. Credit For State Death Taxes as Verified ! .00 i 2. Pennsylvania Inheritence Tex Assessed .00 I (Excluding Discount and/or Interest) 3. Inheritance Tax Assessed by Other States .00 or Territories of the United States (Excluding Discount and/or Interest) 4. Total Inheritance Tax Assessed I .00 5. Pennsylvania Estate Tax Due I .00 6. Amount of Pennsylvania Estete Tax Previously Assessed I I .00 Besed on Fadaral Estate Tax Return I ! 7. Additional Pennsylvania Estata Tax Due I .00 TAX CREDITS: I PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID i DATE NUMBER INTEREST/PEN PAID (-) I I I TOTAL TAX CREDIT .00 BALANCE OF TAX DUE i .00 INTEREST AND PEN. I .00 I TOTAL DUE I .00 -IF PAID AFTER THIS DATE, SEE REVERSE SIDE !IF TOTAL IIUE IS LESS THAN tl, NIl PAYIIEN1' IS REIlUIRED I FOR CALCULATION OF ADDITIONAL INTEREST. IF TOTAL IIUE IS REFLECTED AS A "CREDIT" ICRI, YOU KAY .E DUE A REFUND. SEE REVERSE SIDE OF THIS FORH FOR INST~IDNS.1 -..."-. \...Ullu.Jt::=L..Ld.llU LounLY ~eglster Ot Wills One Courthouse Square Carlisle, PA 17013 Phone: (71 7 ) 240-6345 Date: 6/06/2005 ERNICO JEFFREY A POBOX 5950 HARRI SBURG, PA 17110-0950 RE: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: It has come to my attention that you have not filed the Status Report by Personal Representative (Rule 6.12) in the above captioned estate. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, NO. 103 SUPREME COURT RULES DOCKET NO. 1, for decedents dying on or after Jul y 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2005 Your prompt attention to this matter will be appreciated. Thank You. Sincerely, ~ (,~?eY_f ~ GLENDA FARNER STRASBAUGH REGISTER OF WILLS cc: File Personal Representative(s) Judge c?d PLEASE FILE THIS REPORT WITHIN TWO YEARS OF DATE OF DEATH REGARDLESS OF THE STATUS OF THE ESTATE, IF THE ESTATE IS NOT COMPLETED, FILE A 6,12 FORM YEARLY UNTIL COMPLETION, STATUS REPORT UNDER RULE 6,12 Name of Decedent: Wendell K. Pass Date of Death: Julv 8. 2003 Will No, 2003-00730 Admin, No, 21-03-0730 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 D No C8J 2, If the answer is No, state when the personal representative reasonably believes that the administration will be complete: one vear, 3, If the answer to No, 1 is Yes, state the following: a, Did the personal representative file a final account with the Court? YesD NoD 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 D No D d, Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report, ~~,'~ ~~ Date: ~ J- /{/5 , _ . ~re Jeffrev A. Ernico. ESQ,. Attv, ID #07981 Name (Please type or print) 3401 North Front Street. P,O, Box 5950 Address HarrisburE!. PA 17110-0950 (717) 232-5000 Telephone Capacity: D Personal Representative C8J Counsel for Personal Representative (;X 427286v1 PLEASE FILE THIS REPORT WITHIN TWO YEARS OF DATE OF DEATH REGARDLESS OF THE STATUS OF THE ESTATE. IF THE ESTATE IS NOT COMPLETED, FILE A 6,12 FORM YEARLY UNTIL COMPLETION, STATUS REPORT UNDER RULE 6,12 Name of Decedent: Wendell K. Pass Date of Death: Julv 8. 2003 Will No, 2003-00730 Admin, No, 21-03-0730 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: YesD No~ 2, If the answer is No, state when the personal representative reasonably believes that the administration will be complete: one vear, 3, If the answer to No, 1 is Yes, state the following: a, Did the personal representative file a final account with the Court? YesD NoD 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 D No D d, Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. Date: tJ/J- ~:/{;5' \~~ ~re Jeffrev A. Ernico. Eso.. Attv, ID #07981 Name (Please type or print) 3401 North Front Street. P,O, Box 5950 Address HarrisburlZ. PA 17110-0950 (717) 232-5000 Telephone Capacity: D Personal Representative ~ Counsel for Personal Representative (;X 427286v1 PLEASE FILE THIS REPORT WITHIN TWO YEARS OF DATE OF DEATH REGARDLESS OF THE STATUS OF THE ESTATE. IF THE ESTATE IS NOT COMPLETED, FILE A 6.12 FORM YEARLY UNTIL COMPLETION. STATUS REPORT UNDER RULE 6.12 Name of Decedent: Wendell K. Pass Date of Death: July 8, 2003 Will No. 2003-00730 Admin. No. 21-03-0730 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 D No [8J 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: one year. 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 D NoD 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 0 NoD d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. Date: "..// //"'/' '/ " , (/~:/ /~/?/' (/ /'/,.?~~' '--"';;;=-'P;;:;';''''__~~C''> -- z... '.' ______-~ ~afi,:rfe--- -- Jeffrey A. Ernico. Esq.. Atty. ID #07981 Name (Please type or print) 3401 North Front Street. P.O. Box 5950 Address Harrisburg, P A 17110-0950 (717) 232-5000 Telephone Capacity: D Personal Representative ~ Counsel for Personal Representative 427286vl (. /7"<C. .~. '~) \ ,~.. I "' ' 'VI Cumberland County - Register Of Wills One Courthouse Square Carlisle, PA 17013 Phone: (717) 240-6345 Date: 6/22/2007 o ~o cj~ '<0 " ,j~r-- -'7"m ~::n (f)~ QO 'd -1' '-- _ :u --I ::-0 ;J::- !'" c::> <=::> -.a <- c:: z N (j\ ERNICO JEFFREY A 3401 N FRONT ST PO BOX 5950 HARRISBURG, PA 17110-0950 :0- :x () C') - i i ~-T-l -n C) !' ') ") ,.- C1'I RE: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is due on the below listed date. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, NO. 103 SUPREME COURT RULES DOCKET NO.1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2007 Please feel free to contact this office with any questions you may have. If you have already filed your Status Report, please disregard this notice. Sincerely, ~~J~ , ,/ / Glenda Farner Strasbaugh Clerk of the Orphans' Court cc: File Personal Representative(s) 0/ Cumberland County - Register Of Wills One Courthouse Square Carlisler PA 17013 Phone: (717) 240 - 6345 PASS ANNE H C) ~~ ", } '-0 !.~IC) ,. ,"pr- '".:Z: rn .., r:. ::rJ """^ C) C) ) (:J -PI "Ie .~ :1] --i I"-.) <::;:;) c::> -.,j l:- e:: :z: N 0"\ :'U ::T) 1'1, I'" (.) ,:-;-.> '::'-:-) ~;_:~ ~~5 rurl r-'-, :":':'") ~,:-:J i":> C') - _'-1 "r'l .. :'rJ --. C-) III Date: 6/22/2007 x:- ::z 42 WOODS DRIVE MECHANICSBURGr PA 17050 0" RE: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is due on the below listed date. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULESr NO. 103 SUPREME COURT RULES DOCKET NO. 1r for decedents dying on or after July 1r 1992r the personal representative or his counselr within two (2) years of the decedent's deathr shall file with the Register of wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2007 please feel free to contact this office with any questions you may have. If you have already filed your Status Reportr please disregard this notice. SincerelYr ~~~ Glenda Farner Strasbaugh Clerk of the Orphans' Court cc: File Counsel c! PLEASE FILE THIS REPORT WITHIN TWO YEARS OF DATE OF DEATH REGARDLESS OF THE STATUS OF THE ESTATE. IF THE ESTATE IS NOT COMPLETED, FILE A 6.12 FORM YEARLY UNTIL COMPLETION. STATUS REPORT UNDER RULE 6.12 Name of Decedent: Wendell K. Pass Date of Death: July 8. 2003 Will No. 2003-00730 Admin. No. 21-03-0730 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 D No IZI 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: one year. 3. If the answer to No.1 is Yes, state the following: a. Did the personal representative file a final account with the Court? YesD No D 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 D No D d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may b tached to this report. Date:~ '\, d-.-OO\ Jeffrey A. Ernico. ESQ.. Atty, ID #07981 Name (Please type or print) 3401 North Front Street. P.O. Box 5950 Address Harrisburg. PA 17110-0950 427286vl \<:1 GI\"-.:,: i '~,- :"_~ /~i ,! _I.'-"r,\r"") '"\ ........-'_If 'in:] J.tJl iU,) S,{\j\v'H&IO jO >18318 Capacity: CS : I J.ld 0 I lnr lOal (71 7) 232-5000 Telephone D Personal Representative IZI Counsel for Personal Representative r;.:;'/ /.-... r "_" -"'........ :.i f ./'., n-1n- /.'-'......".". BUREAU OF INDIVIDUAL TAXES INHERITANCE TAX DIVISION PO BOX 280601 HARRISBURG PA 17128-0601 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR DISALLOWANCE OF DEDUCTIONS AND ASSESSHENT OF TAX REV-1547 EX AFP (06-05) DATE 03-10-2008 ESTATE OF POWELL JEAN D DATE OF DEATH 08-12-2006 FILE NUMBER 21 06-0730 COUNTY CUMBERLAND ACN 101 APPEAL DATE: 05-09-2008 ( See reverse side under Objections) Amount Remittedl I MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 CUT ALONG THIS LINE --+ RETAIN LOWER PORTION FOR YOUR RECORDS +-- ------------------------------------------------------------------------------------------- REV-1547 EX AFP (03-05) NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX ESTATE OF POWELL JEAN D FILE NO. 21 06-0730 ACN 101 DATE 03-10-2008 r"~IH;: 17 1,";1\ D\', j C) I't'i L; 30 () r~ r~':. SUSAN E LEDERER '^'i ;' , S E LEDERER LAW OFCS' 4811 JONESTOWN RD 226 HBG PA 17109 TAX RETURN WAS: (X) ACCEPTED AS F I LED ) CHANGED RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN Stocks and Bonds (Schedule B) (1) (2) (3) (4) (5) (6) (7) .00 .00 .00 .00 224,528.85 .00 109,718.20 (8) NOTE: To insure proper credit to your account, submit the upper portion of this form with your tax payment. 1. Real Estate (Schedule A) 2. 3. 4. 5. 6. 7. 8. Closely Held Stock/Partnership Interest (Schedule C) Hortgages/Notes Receivable (Schedule D) Cash/Bank Deposits/Hisc. Personal Property (Schedule E) Jointly Owned Property (Schedule F) Transfers (Schedule G) Total Assets 334,247.05 APPROVED DEDUCTIONS AND EXEMPTIONS: 9. Funeral Expenses/Adm. Costs/Hisc. Expenses (Schedule H) 10. Debts/Hortgage Liabilities/Liens (Schedule I) 11. Total Deductions 12. Net Value of Tax Return 13. Charitable/Governmental Bequests; Non-elected 9113 Trusts (Schedule J) 14. Net Value of Estate Subject to Tax (9) 6,874.70 (10) 747.13 (11) (12) (13) (14) 7.l>?1 83 326,625.22 .00 326,625.22 NOTE: If an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will reflect figures that include the total of ALL returns assessed to date. ASSESSMENT OF TAX: 15. Amount of Line 14 at Spousal rate (15) 16. Amount of Line 14 taxable at Lineal/Class A rate (16) 17. Amount of Line 14 at Sibling rate (17) 18. Amount of Line 14 taxable at Collateral/Class B rate (18) 19. Principal Tax Due .00 X 00 .00 326,625.22 X 045 = 14,698.13 .00 X 12 = .00 .00 X 15 = .00 (19)= 14,698.13 TAX CREDITS: PAYHENT RECEIPT DISCOUNT (+) AHOUNT PAID DATE NUHBER INTEREST/PEN PAID (-) 11-08-2006 CD007403 421.05 8,000.00 07-30-2007 CD008467 .00 1,939.00 10-01-2007 CD008771 168.45- 4,516.99 03-03-2008 REFUND .00 10.46- TOTAL TAX CREDIT 14,698.13 BALANCE OF TAX DUE .00 INTEREST AND PEN. .00 TOTAL DUE .00 * IF PAID AFTER DATE INDICATED, SEE REVERSE FOR CALCULATION OF ADDITIONAL INTEREST. ( IF TOTAL DUE IS LESS THAN $1, NO PAYHENT IS REQUIRED. H' IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU HAY BE D A REFUND. SEE REVERSE SIDE OF THIS FORH FOR INSTRUCTIONS.) I Cumberland County - Register Of Wills One Courthouse Square Carlisle, PA 17013 Phone:(717) 240-6345 Late: 6/13/2008 ~~ n=; E;RNICO JEFFREY A ~~ 3401 N FRONT ST ~ ~r-~ F'O BOX 5950 °^~ r~ - ~~; ~ HARRISBURG, PA 17110-0950 '='~~t~' ~~ _ -It j `~ ~ !~ ~° «~' RE: Estate of PASS WENDELL K File Number: 2003-00730 DE~ar Sir/Madam: This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is due on the below listed date. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, NO. 103 SUPREME COURT RULES DOCKET NO. 1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2008 Please feel free to contact this office with any questions you may have. If you have already filed your Status Report, please disregard this notice . Sincerely, ~~~~ Glenda Farner Strasbaugh Clerk of the Orphans' Court cc: File Personal Representative(s) Cumberland County - Register Of Wills One Courthouse Square Carlisle, PA 17013 Phone: (717) 240-6345 Date: 6/13/2008 C7 ter--'' PASS ANNE H ~~ ~..: - ~. L C7 ~ _ 42 WOODS DRIVE :ice(`- i4= MECHANICSBURG, PA 17050 a , , ~ ~ ; --:, , ~ -a ~ `` ~ --~ ."_. _ r~; c-> RIB: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is due on the below listed date. A~~ per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, N0. 103 Sti~PREME COURT RULES DOCKET NO. 1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2008 Please feel free to contact this office with any questions you may have. If you have already filed your Status Report, please disregard this notice. Sincerely, ~~~.~ Glenda Farner Strasbaugh Clerk of the Orphans' Court cc:: File Counsel PA. O.C. Rule 6.12 STATUS REPORT REGISTER OF WILLS OF CUMBERLAND COUNTY, PENNSYLVANIA Name of Decedent: WENDELL K. PASS Date of'Death: July 8, 2003 File Number: 2003-00730 Pursuatrt to Pa. O.C. Rule 6.12, 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 ®No 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: 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 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 ^ No d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. ~- _. _~.: i g ,coos Date: _ June ~~ Signat of Person Filing this Form Capacity: ^Personal Representative ®Counsel Jeffrey A. Ernico, Attorney I.D. #07981 Name of Person Filing this Form ,~ 1071.-~`''. ' ~, '',~``°':JU~ ~` ~.:~ '.''~~~IJ ~~ ~ ~ l~yi~ ~~ r`'~~~' ~~~~ 3401 North Front Street P.O: Box 5950 Address Harrisburg, PA 17110-0950 ,~717~ 232-5000 Telephone ~- 496007v1 -- _~ ~ L ._ _ ., _ ._ Form R'W-10 rev. 10.13.06 Cumberland County - Register Of Wills One Courthouse Square Carlisle, PA 17013 Phone:(717) 240-6345 Date: 6/15/2009 ERNICO JEFFREY A 3401 N FRONT ST PO BOX 5950 HARRISBURG, PA 17110-0950 RE: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: c- a C'> : ~ ~° ~ c ; ~ - ;~ __4 ~ c_.. ;:~~ -,-, c~: _ _ r- ., ~? 3-rl ,__ - ---- ! i f ~~ t _. <::,> . ! t..~rJ ~~ _ . , ,r_;-~~ _, .. ~ ~ ~ ~ . , ~_,~ 4.` This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is due on the below listed date. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, N0. 103 SUPREME COURT RULES DOCKET NO. 1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2009 Please feel free to contact this office with any questions you may have. If you have already filed your Status Report, please disregard this notice. Sincerely, ~~~~~~ Glenda Farner Strasbaugh Clerk of the Orphans' Court cc: File Personal Representative(s) Cumberland County - Register Of Wills One Courthouse Square Carlisle, PA 17013 Phone:(717) 240-6345 Date: 6/15/2009 PASS ANNE H 42 WOODS DRIVE MECHANICSBURG, PA 17050 RE: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: ~a ~J C~ ~ C. ~7 ,- , \4~ ' 7 ~ ~ 7 ~ _i._ ~-... ' , 1 t ~ ~ ~.,~ ~ ' '~ - ,-; -=- _ .~ - ~ ==-i ca This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is-due on the below listed date. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, NO. 103 SUPREME COURT RULES DOCKET NO. 1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2009 Please feel free to contact this office with any questions you may have. If you have already filed your Status Report, please disregard this notice. Sincerely, Glenda Farner Strasbaugh Clerk of the Orphans' Court cc: File Counsel PA. O.C. Rule 6.12 STATUS REPORT REGISTER OF WILLS OF CUMBERLAND COUNTY, PENNSYLVANIA Name of Decedent: WENDELL K. PASS Date of Death: July 8 2003 File Number: 2003-00730 Pursuant to Pa. O.C. Rule 6.12, I report the following with respect to completion of the administration of the above-captioned estate. State whether administration of the estate is complete :............... ^ Yes ®No 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: Six months 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 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 ^ No d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. Date: Jules%j' , 2009 Srgnat erson Filing this Form ~ Capacity: ^Personal Representative ®Counsel CV i' ~ c _ : Jeffre~A. Ernico, Attorney LD. #07981 ` - "~ ' t~ rj~ Name of Person Filing this Form -- _ 't ...~ ._ "- `'= 3401 North Front Street, P.O. Box 5950 N '-~ ~ i ; Address ~ ~ . e~ , aY;' ._.. T ~ ~-"= U =; Harrisburg, PA 17110-0950 t~ U ~~ 5717) 232-5000 Telephone 517043v1 Form RW-10 reu. 10.13.06 Cumberland County - Register Of Wills One Courthouse Square-,~ ~„~~,~,~~,~ ~,r~,~~ ,_ Carlisle, PA 17013 '~~-~'~~'~'~~~`--~-~ ~,'~`, +t%~~ 0~ Phone . (717 ) 2 4 0 - 6 3 4 5 ~~ ~;; f i:+; ~ :~ ~,};t' J1~' i'~ ~, ~., ;., ~~ ~~ u G~.E~?!t 0~ cco~~~~v~~ ~~t.l~T B~.~~_~tvD GO., FA, Date: 6/14/2011 ERNICO JEFFREY A 3401 N FRONT ST PO BOX 5950 HARRISBURG, PA 17110-0950 RE: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is due on the below listed date. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, N0. 103 SUPREME COURT RULES DOCKET N0. 1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2011 Please feel free to contact this office with any questions you may have. If you have already filed your Status Report, please disregard this notice. Sincerely, ~'' ~ C~.- /.~ Glenda Farner Strasba Clerk of the Orphans' Court cc: File Personal Representative(s) Cumberland County - Register Of Wills One Courthouse Square Carlisle, PA 17013 ~ ~`~;',~,~~;~~~~ ;"; r~`~G' ~~~: Phone. (717) 240-6345 ~' I ~ I + ~~ M, t r C~FRK 0~' ~~ J ~tJ~~3~~~~~~7 CO., PA, Date: 6/14/2011 PASS ANNE H 42 WOODS DRIVE MECHANICSBURG, PA 17050 RE: Estate of PASS WENDELL K File Number: 2003-00730 Dear Sir/Madam: This notice is to serve as a reminder that the Status Report by Personal Representative under Rule 6.12 is due on the below listed date. As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, N0. 103 SUPREME COURT RULES DOCKET NO. 1, for decedents dying on or after July 1, 1992, the personal representative or his counsel, within two (2) years of the decedent's death, shall file with the Register of Wills a Status Report of completed or uncompleted administration. This filing is due by: 7/08/2011 Please feel free to contact this office with any questions you may have. If you have already filed your Status Report, please disregard this notice. Sincerely, b S.a.•y./!"-'Y-'"V~~~w.r+wr/i~J~idY it { Yr'', t+t -a~%~'~ .~-~~1~%~ ~ fi Glenda Farner Strasba~~h Clerk of the Orphans' Court cc: File Counsel PA. O.C. Rule 6.12 STATUS REPORT REGISTER OF WILLS OF CUMBERLAND COUNTY, PENNSYLVANIA Name of Decedent: WENDELL K. PASS Date of Death: July 8, 2003 File Number: 2003-00730 Pursuant to Pa. O.C. Rule 6.12, 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 ^ 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. I is YES, state the following: a. Did the personal representative file a final account with the Court? .....^ Yes ®No 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 ^ No d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. Dare: June , 2011 a~P~n Filing this Form ity: ^Personal Representative ®Counsel Jeffrey A. Ernico, Attorney I.D. #07981 Name of Person Filing this Form ts._ ;_~ I' Q v .. Q. ~..- ~`- 3401 North Front Street, P.O. Box 5950 FIL.; ,~;;. ~ ~ Address ~ ,~ ~ Harrisburg, PA 17110-0950 ~~ - ~ -, -4- ~~ ~ ~ u~ (717) 232-5000 ~'~°;a ." '~'~ ~' _ -~ ~, (_C -~ Telephone . Ls-r i.-i-- ~ .., _, U t:.T- 539737v1 '. Form RW-10 reu. 10.13.06 {~'