HomeMy WebLinkAbout01-30-03Rev ~ .~,~ o EXI~-00). ~COMMONWEALTH OF
~.~ PENNSYLVANIA
~!~D~F,r"~TN~ENT OF REVENUE
~~ DEPT 2~1
~ ~RRISBURG, PA 17128-0601
DECEDENT'S NAME (LAST FIRST AND MIDDLE INITIAL
HULL, HERBERT L
DATE OF OEATH (MM-DD Year)
10/29/2001
REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
DATE OF BIRTH (MM-DD-Ye~)
12/21/1918
(If APPLICABLE) SURVIVING SPOUSE'S NAME (LAST FIRST AND MIDDLE INITIAL}
OFFICIAL USEONLY
FILE NUMBER
2 I - 0 2 0 0 .5"'~ 5
SOCIAL SECURITY NUMBER
3 9 9-0 1 -6 3 3 5
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
SOCIAL SECURITY NUMBER
r~l Original Return
[~4 L~m~ted Estate
J-~6 Decedent D~ed Testate (Attach copy oIW~l)
[~9 Lrt~gation Proceeds Received
MI.~ST BE ~
NAME
SCOTT M DINNER ESQ
FIRM NAME (If Apptca~b)
TELEPHONE NUMBER
717-761-5800
[--~2 Supplemental Return
] ~a Future Interesl Compromise (~. of death after 12 12 82)
--]7 Decedent Maintained a bwng Trust (Attach copy ofTru~I
COMPLETE MAILINGADDRESS
3117 CHESTNUT ST
CAMP HILL
r~5 Federal Estate Tax Return Required
2.~ 8 Total Number of Safe Depos~t Boxes
-'-] 11 Election to tax under Sec 9113{A)
) TO
PA 17011
1 Real Estate (Schedule A) (I)
2 Stocks and Bonds (Schedule B) (2)
3 Closely Held Corporahon, Partnership or Sole Proprietorship {3)
4 Mortgages & Notes Receivable (Schedule D) (4)
5 Cash, Bank Deposits & M~scellaneous Personal Pmpedy (5)
(Schedule E)
6 Jomtly Owned Properb/(Schedule F) (6)
] Separate Billing Requested
7 Inter Wvos Transfers & Miscellaneous Non Probate Property (7)
(Schedule G or L)
8 Total Gross Assets (total bnes 1-7)
9 Funeral Expenses & Adm~mstraWe Costs (Schedule H) (9)
10 Debts of Decedent, Mortgage bab~ht~es, & L~ens (Schedule I) (10)
11 Total Deductmns (total Lines 9 & 10)
12 Net Value of Estate (Line 8 minus bne 11)
13
14
1,264,000 O0
546,940 00
_-0 O0
84,3~7 00
77,500 O0
430,~ 08 00
(8)
199,588 92
6,521 29
(11)
(12)
Charitable and Governmental Bequests/Sec 9113 Trusts for which an elect~on to tax has not been (13)
made (Schedule J)
Net Value Subject to Tax (Line 12 minus Line 13) (14)
OFFICIAL USE ONLY
2,402,905 00
206,110 21
2,196,794 79
2,196,794 79
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
15 Amount of Line 14 taxable at the spousal tax
rate or transfers under Sec 91f6 (a)(1 2) X __ {15)
16 Amount of Line 14taxable at lineal rate 1,913,724 79 x 045 (16)
17 Amount 01 bne 14 taxable al s~bhng rate X 12 (17)
18 Amount of Line 14taxable at collateral rate 283,070 00 X 15 (18)
19 Tax Due (19)
86,117 62
42,460 50
128,578 12
, ,;:" > BE :SURE,TO,ANSWER ALL QUESTIONS ON REVERSE SIDE AND RECHECK MATH < <
De(~edent's Co_mplete Address:
STREETADDRESS 2~20 EA~RVIEW ROAD
CITY CAMP HILL I STATE PA I zip 17011
Tax Payments and Credits:
I Tax Due (Page I bne 19)
2 Credds/Payments
A Spousal Povefiy Credit
B Prior Payments
C D~scount
115~000 O0
3 Interest/Penalty If applicable
D thterest
E Penalty
(t)
Total Credits ( A + B + C ) (2)
Total Interest/Penalty ( D + E ) {3)
If Line 2 Is greater than L~ne 1 + L~ne 3, enter the difference This Is the OVERPAYMENT
Check box on Page 1 L~ne 20 to request a refund (4)
If Line 1 + L~ne 3 is greater than Line 2, enter the difference Th~s is the TAX DUE (5)
A Enter the interest on the tax due (5A}
B Enter the total of Line 5 + 5A This ~s the BALANCE DUE (SB)
Make Check Payable to' REGISTER OF WILLS. AGENT
128,578 12
115,000 00
0 00
13,57812
13,57812
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1 D~d decedent make a transfer and Yes No
a retain the use or income of the properly fransferred, [] []
b retain the r~ght to designate who shall use the property fransferred or ~ts income. [] []
c retain a reversionary interest, or [] []
d receive the promise for I~fe of edher payments, benefits or care? [] []
2 If death occurred after December 12, 1982, d~d decedent transfer property within one year of death
whhout receiving adequate cons~deratLon~ [] []
3 Did decedent own an 'm kust for" or payable upon death bank account or security at h~s or her death2 [] []
4 D~d decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary deslgnahQn? [] []
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN
Under penalties of p~ry, I declere that I haw exarnmed th~s retum mcbd~n~ sccornpany~ng schedules and staten~nts, and to the best of my knowledge and belef, ~t ~s true, correct a~d cornpbte
Declaratmn of p~e~r otbe¢ than the personal repr~ntatJ~ ? based on al m fo~'mat~'~ of which preparer has any knowledge
PERSON RESPON FOR' .'r E: JRN DATE . ,
l
I
O_~,~
ADDRESS 5235 MEADOWBROOK DRIVE
M.ECHANICSBURG __
ADDRESS ~-513 CEDAR CL/J~ DRIVE
CAMP HILL ~'
PA 17050
DATE
PA 17011
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate Imposed on the net value of transfem to or for the use of the surviving spouse is 3%
{72 P S §9116 (a)(1 1)
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0% [72 P S §9116 (a) {1 1)
The statute does not exempt a fransfer to a surv~wng spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are sbl] apphcable even
the surviving spouse Is the only beneficiary
For dates of death on or after July 1, 2000
The tax rate ~mposed on the net value of fransfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adophve parent,
or a stepparent of the child Is 0% [72 P S §9116(a)(1 2)]
The tax rate imposed on the net value of tTansfers to or for the use of the decedent's lineal beneflc~anes is 4 5%, except as noted in 72 P S §9116{1 2) [72 P S §9116(a)(1
The tax rate imposed on the net value of transfers to or for the use of the decedent s siblings ~s 12 % [72 P S §9116(a)(1 3)] A slbhng is defined, under Section 9102, as an
mdwldual who has at least one parent ~n common wth the decedent, whether by blood or adopbon
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT O~C~O~NT
ESTATE OF
SCHEDULE A
REAL ESTATE
FILE NUMBER
HULL. HERBERT L. 21 02 00515
All real property owned solely or as a tenant In common must be reported at fair market value Faff market value is defined as the pnce at which property would be exchanged
between a w~lfing buyer and a w~lfing seIler, neither being compelled Io buy or sell, both having reasonable knowledge of ~he relevant facts Real property which is Jointly-owned w~th right of
survivorship must be disclosed on Schedule F
ITEM
NUMBER
DESCRIPTION
BOROUGH OF CAMP HILL, CUMBERLAND COUNTY, PA SINGLE FAMILY
DWELLING, 2820 FAIRVIEW RD, CAMP HILL, PA 17011
ACTUAL SALE PRICE 8/7/02
LOT NOS 1373 AND 1374 OF LAKE MEADE SUBDIVISION, LATIMORE TOWNSHIP,
ADAMS COUNTY PA SINGLE FAMILY DWELLING ERECTED THEREON 386
LAKE MEADE DR, E BERLIN PA APPRSL BY MARKW HECKMAN
149 03 ACRES IN JACKSON TOWNSHIP, LYCOMING COUNTY PA SINGLE
FAMILY DWELLING ERECTED THEREON 558 STATE ROAD 284, TROUT RUN PA
APPRAISAL BY ALVIN J STOLTZFUS GA-00810-LD
BOROUGH OF CAMP HILL, CUMBERLAND COUNTY PA SINGLE FAMILY
DWELLING, 304 APRIL DRIVE, CAMP HILL, PA 17011 APPRAISAL BY MARKW
HECKMAN GA 000666-L
2 02 ACRES, SUSQUEHANNA TOWNSHIP, DAUPHIN COUNTY PA LOT NO 3 IN
PHASE 1 OF 181/83 BUSINESS COMPLEX COMMERCIAL BUILDING ERECTED
THEREON 2570 iNTERSTATE DR, HARRISBURG PA (PER FMVANALYSIS OF
TOM POSAVEC ATTACHED)
VALUE AT DATE
OF DEATH
178,000 00
158,000 00
164,000 00
124,000 00
640,000 00
TOTAL (Also enter on line 1, Recap~tulahon'~ $ 1,264,000 O0
(If more space is needed, insert addltmnal sheets of the same srze)
DEPARTMENT OF HOUSING and URBAN DEVELOPMENT
~ETTLEMENT STATEMENT
b.-CURED LAND
TRANSFERS, INC.
5006 East Tnndle Road
Suite 203
Mechamcsburg, PA 17055
Phone: (717) 591-8500 FAX (717) 591-8506
B TYPE OF LOAN
i I IFHA 2 [ IFMHA 3 I ICONV UNINB
503938 I 8009914238
C NOTE This fo~m IS furnished to give you a statemen[ of actual selt~ement costs Amoun[s paid lo end by the settlement agent are shown Ilems marked
'(p o c ) were ga~d outside the closing they are shown here lot InlO[mahonal purposes and are nol included in Ihe
O~_E~DAOOREBSOFBORROWE~
S~dlp K Mukher]ee
Sukanya Mukher]ee
G PROPER~ LOC~ION
2820 Falrvlew Road
Camp H~ll BOROUGH
CUMBERLkND County
FNAMEANDADDRESSOFLENDER
Navy Federal Credit Un~on
P O Box 36116
Philadelphia, PA 19112
H SE~TLEMENTAGEm 17011 I SE~LEMENTDA~E
Secured Land Transfers, Inc 08/07/02
3915 Market Street, Camp Hill, PA
SUMMARY OF BORROWER $ TRANSACTION K SUMMARY OF SELLER'S TRANSACTION
Contraclsalesprlce 178000 00 4olConlrac(salespnce 178000 O0
m? Counly mx 08/07/021o12/31/0;
,o. echooZ 08/07/02,006/30/02
,,e Swr $60/sa ~o
309 42
1768 99
48 00
184161 60
4oz Personal property
200 AMOUNTS PArD BY OR IN BEHALF OF BORROWER
Adjustments for items paid by seller In advance
4a? coumymx 08/07/02Io 12/31/0~
~ scb~z 08/07/021o 06/30/02
4,0 Swr $60/sa ~.
412
42~ GROSS AMOUNT DUE TO SELLER
500 REDUCTIONS IN AMOUNT DUE TO SELLER
8 0 0 0 0 0 sol Excess depos[( (see ~nstruchons)
309 42
1768 98
48 00
180126 41
Principal amount el new loan(s) 16 0 0 0 0 0 0 so~ seglement charges to seller (hne 1400) 15 54 2 5 2
Existing loan(s) taken Sublect to se3 Exlshng loan(s) laken Sublect to
NONE
2o5
~o~ (S)to(B) Closing Cost
1400 00
Payoff of Second Mortgage Loan
(S)Lo(B) Closin~ Cost
1400 O0
184161 60
Gross amounl due to setler (kne 420)
180126 41
16942 52
303 CASH(IX]FROM) ([ ]TO) BORROWER I 14761 60 603CASH(D~TO) ([ ]
163183
89
SETTLEMENT STATEMENT
L SETTLEtaENTCHARGES 503938 PAIDFROM PAIDFROM
OlVlSlO~ of Commission (line 7'00) es follows Tot;al $10 , 295 0 0 SETTLEMENT SETTLEMENT
702 $ 5365 00 ~o Century 21 AT THE HELM
10295 00
?04 Trans Fee E~/NRT, Inc 100 00
~ Flood Cert Flood Da~a Seduces 13 50
a~0 TaxSetuD ls~ American RE Tax Svc 7 00
~:~ InspWa~ver NFCU (50 POC)
)9ol mn~eres~f~om 08/07/02 to08/31/02 ~$ /day
1004 Coun/ytax 6 mo eS 63 17 /me 379
lO8 T~Uelnsu~ance to Secured Land Transfers ~398 75'
(,ncludesabove,temsNo ) E~S 100/300/900
~ Ha~[/N;~e Sec~ed ~a~d ~a~s~e~s 35 00
1~2 Tax Cert Secured Land Transfers 5 00
~3 Hm Warr E~/~T, Inc 385 00
,~0. '02 Co/~ Michael W Harlin~,~ Col 850
,20~ '02 School M~chael W Harlin~,~ Col 1974 56
,so~ Hm Inspect Crl~erium Yin~st(POC-B)
~o4 St+Fee '02 Camp Hill Borough 127 05
~s Trans Fee Cen~u~ 21 AT THE HELM 125 00
MARK HECKMAN REAL ESTATE APPRAISERS
APPRAISAL OF
SINGLE FAMILY APPRAISAL
LOCATED AT'
186 Lake Meade Dr~ve
East Berhn, PA 17316
FOR
Scott M Dmner, Esq
3117 Chestnut Street
Camp Hdl, PA 17011
BORROWER
NA
AS OF'
October 29~ 2001
BY
Glna M DIStefano, Assmtant to the Cedtfled Appraiser
Mark W Heckman State Certified Appraiser No GA-000666-L
1309 Bridge Street, New Cumberland, PA 17070 (717) 774-7202
Mark Heckman Real Estate Appraisers
)~erty Des~rIptlon UNIFORM RESIDENTIAL APPRAISAL REPORT File No 1861akem
PropedyAddress 18~ Lake Meade Drive C~y East Berlin Stale PA ~pCode 17316
Legal Des~pbon D~ed Rook 360. Pa~e 852 Coun[~ Adams
AssessorsPar~iNo SEE MAP REFERENCE NUMBER TaxYear 2002 RE Taxes$ 1.088 00 Spec~alAssess~nts$ None known
8o,o~ NA Cu~ent Owner Estate of HerbeA L Hull Occupant [ } Owner ~ Tenan~ ~ Vaunt
Propedynghsappra,sed ~XI FeeS~m~e I ~ Leasehod I PeledType ~XJ PUD I ] Cond ..... {HUDNAo~y) HOA$ 42 33
Nm~hborh~d or PrOle~ Na~ Lake Meade Map Reference 24-007-0025-000 Census Tract 301
Sale Pn~ $ NA Dale of Sa~e NA Description and $ e~unl of loan charges/~ncesslons to be ~d ~ s~l~ NA
Lend~/Ckenl SCO~ M Omner~ Esq Address 3117 Chestnut Street~ Camp HIII~ PA 17011
~ Apprmser Mark W Heckman Address 1309 Bnd~e Street~ N~ Cumberlandr PA 17070
Lo.ben Urban X Suburban
~ Under 25% occupancy PRICE AGE ~ One felly
~ Propedyvalues ~ I.=eaSl.g ~ Stable ~ Declining [ ~ T..~.t I 250+ High 50+ MuH~aMy ~To
BDe~ndlsupply OSh~age ~ Q~.~ ~W~(~) I >~Predogmnant ~' lC ..... m
marketablkty
THIS IS A "COMPLETE APPRAISAL - SUMMARY REPORT' There are no foreseeable economm trends which might slgmficantly
influence market condlhons ~n this area The current mort6age market offers a w~de variety of convenbonal loans with competitive
mterest rates As a result, the terms of financing have httleI ~f any~ Impact on sale prices if ~nterest rates remain reasonabler property
values and marketability should be good
~ Project Information for PUDs (If appbcable) - - Is lhe developer/bullde¢ In cenlrol of the Home Owners Assoc~etlon (HCA)? ~j YES X~j NO
Approxlmalelelalnumbero[umtsmlhesublectprolecl 1000+/- Aflproxlmatelolalnumberofunllsforsalelnthesubjectproject 12
~ Describe common elements and recreahonal [ac~hbes Lake~ pool. tenms~courts, basketball cour mmumty center~ play, roundsr bo~at~aaunches
S~earea 86Ac CornerLol UYes L~No
Zonlngcomphance [] Legat [] Legalnon~cm~g(Grand~atheneduse) L~llle§al L~ Nozonlng
Larger than typical
420004/0005B
Age (Yrs) 20
IEffsdr~e A~e (Yrs) 10
Walls DrywalflAverage
Tn~Flmsh Wood/Ave
Bath Floor Vinyl/Ave
EXTERIOR DESCRIPTION FOUNOATION
F~ndallon CO Block Slab NO
Exterior Wa)Is Wood Cra~ Sp~e No
5 Roor~ Bedroom(s),
Fuel ~o/~OH F~n~eYO~e. ~IS' ....
~ond,.nAvg - Omsposal ~ / Drop Sla~
Floor Carpet/Co
Balh(s).
Fireplace, s) # 1
INSULATION
Other Area Sq Ft
Loft 1.274
1.274
156
0
physical depreclabon and no deflclencms are noted Uhht¥ of floor plan IS typical for a house of this age and style and should receive
Immediate vmmdy ef the sublect property
Mark Hackman Real Estate Appramers
.t~o. so,troD. UNIFORM RESIDENTIAL APPRAISAL REPORT ~,. No 18Blakem
ESTIMATED SITE VA~,UE ,~
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS
=5
186 Lake Meade Onve
Address East Berhn
Daleof Salemme ~ ~>'~ ~ ~ ~
=$
=5
=5
=$
123 Lake Meade Drive
East Berhn
1/3 Mile Nor[h
~.'~/½>~ $ 139 900
11356
Assessment Records & MLS
;Suburban/Ave [ +10~000
Fee Simple
33 Ac I +15~000
Log Home Good I -5~000
Average ',
14/eft 8 yrs ;
Average
5; 3' 200i
Typ for Area
OFNCentral A~r :
None ; +2 000
2 Car Garagellnt' -5~000
Deck
None ,I +1,000
None
None : +3,000
Ix), I )- ;s ~o,8oo
R~,.~14~9%~'¢+~ $ 160 700
CommeMs on Cost Approach (such as source of cosl estlmale
site wlue square foot calc~lshon and lot HUD VA and FmHA the
eshma[ed remamrng economic hie o[ fha properly}
515 Lake Meade Drive
East Berlin
! 61 Mile West
Assessment Records & MLS
Suburban/Ave ; +10~000
Fee Simple
34 Ac ; +15~000
Average, i; +St000
Spht-Levef/Ave
Average :
6/eft 4 yrs ; -3,000
Good i -3~000
51 2; ~ ooi +1,5oo
Part Basement ',
RR/Ful{ bmh/Bedrm i -2~500
Typ for Area
PFNCentral Air i
None ; +2,000
2 Car Garage/Iht ! -5,000
None : +3 000
X]~ ~ ;$ 23,600
285 Lake Meade Drive
East Berlin
1/2 Mile South
'~.~ ~ ~ ~ ~ $ 150,00
Assessment Records & MLS
Average
Ix)* LI- i$ 6,ooo
See Attached Addendum
ITEM NonSUBJECTe COMPARABLE NO I COMPARABLE NO 2 COMPARABLE NO 3
Date Pnce end Dale NO prior sale ether No prior sale other No prior sale other
So~'~ f~lmormles than that listed above than that hsted above than that hsted above
Accordmg to Information provided by the multlqlSt Se~lCeS In this region the sublect properly has not been listed for sale wdhln the
past year
INDICATED VALUE BY SALES COMPARISON APPROACH $ 158~000
~INDICATEDVALUEBYINCOMEAPPROACH(IfAppI~atYe) E$flmaledMarkelRenl$ N/A /Mo xGrossRentMu,~pl~fN/A =5 NA
Final Rec~nc~atlon See Attached Addendum
mName~lna M DiStefa~o, A~srsta~t t~{he Ced*fled Appraiser Name MACRK W HECKMAN Inspeci Propedy
mOale~epodS~)ned 10/1/02 ~ I
SUBJECT PROPERTY PHOTO ADDENDUM
I_~r~rrower AA Fde No 1861akem
Property Address 3,86 Lake MeF~de Drive Case No
Cdr East Berlin State PA Zip 17316
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date 10/29/2001
Appraised Value $158,000
REAR VIEW OF
SUBJECT PROPERTY
STREETSCENE
LAKE
/
November 18, 2002
Thomas E. Flowers, Esquire
2109 Market Street
Camp Pall, PA. 17011
Dear Attorney Flowers;
Per your request, I have prepared an appraisal of the property owned by Herbert L. Hull,
deceased, Jackson Township, Lycoming County, Pennsylvania. Attached is the report, which
points out the comparison within the real estate market place that reflects upon the value of the
subject property.
After weighing all the facts and findings m the various approaches of value, ~t is my opimon that
the current value of the subject property from the market is best expres, sed as of October 29, 2001
to be $164,000 00.
Respectfully submitted,
Alvin J Stoltzfus, Certffied General Real Estate Appraiser
Certtfication Number: GA-000810-L
EIlc.
Apprmsal for Thomas Flowers, Esq
H~rb~rt Hull
Lycommg County, PA
Prepared by A & D Appraisals and Insurance
Page 1
Highest and Best Use
Zoning
Real Estate Assessment
Real Estate Taxes
Utflmes
Land Area
Topography
S~te Improvements
Budding Dlmensmns
Date of Inspection
Date of Valuation
Estimated F M V
Estunated F M V
Estimated F M V
Site Only
Fmal Emmate of Value
SUMMARY OF SALIENT FACTS
Agricultural
Res~dentmYAgfi cultural
$107,513 00 Millage 20 970
$2,254 55 Parcel 18-167-0-0113 A
Spring, septic, electric, gas, TV and telephone
149 03 acres
Basically level to steep
See attached description
See building description
S~te - November 2, 2002
October 29, 2001
Cost Approach -not apphcable
Income Approach - not apphcable
Comparison Sales Approach - apphcable
Not applicable
$164,000 00
Ia~rbert Hun
Lyeornln$ County, PA
Prepared by A & D Apprmsals and Insurance
PURPOSE OF THE APPRAISAL
The purpose of this appraisal is to estimate the "market value" of the 149 03 acre lot plus all
tmprovements erected thereon m the Townslup of Jackson, Lycommg County, Pennsylvama The
effective date oftlus apprmsal ~s October 29, 2001 Market Value is the "willing buyer - wflhng
seller" concept
Owners
Address of Property
Valuation Date
IDENTITY OF TIlE PROPERTY
Herbert L Hull, s~ngle
558 State Road, Trout Run, PA
November 2, 2002
17771
ESTATE TO BE ACQUIRED
The estate ~s the Fee Sample Title
FLOOD ZONE
The subject property is not located m a flood zone area
Commumty Panel Number 422601 0001 Map Date 1/1/91
within report
Flood Zone C
Copy attached
Lyc~ m g Co~l~r, PA
Prepared by A & D Apprmsals and Insurance
2002 REAL ESTATE TAX RATES
The subject land and budding are assessed for ad valorem purposes The following ~s the various
exasting Township, County and School nullages
Jackson Townsbp
0 600 malls on assessed value of real estate
(Assessed value = 100% of 2002 market value)
School Dmtnct
15 470 nulls on assessed value of real estate
(Assessed value = 100% of 2002 market value)
County
4 900 mtlls on assessed value of real estate
(Assessed value = 100% of 2002 market value)
2002 Assessed value for land and buddings only
2002 Real Estate taxes
$107,513 O0
$ 2254 55
ZONING
The subject property ~s residenual/agncultural
lVliNERALS
The deed recites no &sposit~on as to minerals, therefore, no value adjustment for this ~tem ~s to be
considered
· -. MARK HECKMAN REAL ESTATE APPRAISERS
FleNo 304april
APPRAISAL OF
SINGLE FAMILY APPRAISAL
LOCATED AT
304 April Dnve
Camp Hdl, PA 17011
FOR
Scoff M Dmner, Esq
3117 Chestnut Street
Camp Hill, PA 17011
BORROWER
NA
AS OF
October 29, 2001
BY
Mark W Heckman, General Appraiser
GA-000666-L
1309 Bridge Street, New Cumberland PA 17070 (717} 774-7202
Mark Heckman Real Estate Appraisers
UNIFORM RESIDENTIAL APPRAISAL REPORT F,o No 304apnl
Bull up [] Over 75% [] 25 75% [] Under 25% occupancy PRICE ,AGE One fan~y ] Not hkcty [] LA,fly
Note Race and the racial composition of the neigh borhood are not appraisal factors
Neighbor hood bou ndarles and cheract erlshc$ The subject property is located m the Boreuc]h of Camp H~ll
effect marketablhty
influence market conddlons In thru area The current modpape market offers a w~de va e y of conven one loans wdh competdwe
interest rates As a result~ the terms of hnancin( If interest rates remain reasonabh
values and marketab ~ y shou d be pood
D~m~nsx~ns 65 X 100
$~tearea 0 15Ac CornerLot
Speclhc zoning class~flcahon and descnphon R-2 L*mlted Multiple
Zonlng~m~nce [] Legal [] Le~alr~l~o~fo~m~(Gtaodfal~duse} UIIlega~ ~ Nozon=g
Utilities Publm Other Offsltelmprovements Type Pubhc Prrval~
Waler ~ SK~ewalk Concrete []
Topography Level
S~ze Typ~ca~ for area
Shape Rectan.qular
Dramage Appears adequate
View Average
FEMA Special Flood Hazard Area ~Ye$ []No
420357/0001 B
GENERAL DESCRIPTION
No et Un~s 1
No of Stones 2
Type(Bet/AU) Detached
--L"%,er FII ,%
1 8alh{s}~
AMENITIES
Freplace(s~ #
[] P~
n Stoop
Addendum
~mmed~ate vtc~ndy of the sUblect property
Mark Hackman Real Estate Appraisers
UNIFORM RESIDENTIAL APPRAISAL REPORT
Valuation Section
File No 304aprd
ES~MATED SiTE VALUE
ESTIMATED REPRODUCTION COST NEW OF IMPROVEMENTS
Dwe~mg l~9936qFt O$ 5750 =$
Bsmt 580 Sq Ft
ITEM I SUBJECT
304 April Drive
Address Camp H~
10,440
2000 = 6,160
= $ 131,198
= $ 43,298 = $ 87,900
= $ 2,000
= $ 124,E 30
437 Parks~de Drive
Camp Hill
mile value square foot cal~tahon and for HUD VA and FmHA. the
Esbmated Reproduction Cost-New-of-Improvements IS
calculated usln9 the Marshall and Swift Residential Cost
Handbook and local cost analysis Estimated sde value is
based on local market analysis Depreciation m esbmated
usm.q the economic a,qe-llfe method and market analys~s
Estimated $10~000 external deprec~abon due to traffic nome
COMPARABLE NO 2
1902 Chestnut Street
Camp Hill
6 Mile Nor[h
,~'" ~, $ ,t~8 o~o
Assessment Records & MLS
1018/01
Average i -10,000
Fee Simple
24 Ac : -2,500
Avera,qe :
43/eft 15 yrs
A¥~rage ,
9: 3~ 2 501 -3,500
1~654SqR I +3~400
Unfinished i +3,000
Average
OHWINo Ct Air I +2,000
Typ for Area
2 Carport/Att
Paho & Porch -2,500
1 Fireplace -1~000
None
Hardwood Floors , -1~000
U* ~- is 12,1oo
~?' *~ ~¢ ~S 125,900
COMPARABLE NO 3
136 N 33rd Street
Camp Hdl
1 Mile East
~ ~,~ ~ ~; s 14o ooo
Assessment Records & MLS
FHA -2,800
45/off 15 yrs
Av?age ,
8, 4: 1 50; -1,500
Partial Basement
Rec Rm/Orhce
GHW/Central A~r ,
Typ for Area ,
I Car Ga a,qe/n i +11000
Screen Deck -2 00(]
ITEM SUBJECT COMPARABLE NO I COMPARABLE NO 2 COMPARAGLE NO 3
Date Pr~.e and Data None No prior sale other No prior sale other No prior sale other
past year
INDICATED VALUE BY SALES COMPARISON APPROACH $ 124~008
PAGE 2 OF 2
mark hackman real estate appramers
ADDENDUM
Property Address 304 April Dnve
C~ty CampHi~l State PA 7jp 17011
ender Sco~ M D~nner, Esq
Condltlorl of Improvements
Th~s br~ck and frame house IS of average quality, has had ~yplca~ maintenance, and no repairs needed Property reflects
norm al physical depreoatlon and no dehc~enc~es are noted Utlhty of floor plan Is tyl~cat for a house of th~s age and style
and should receive average acceptance In the market place External obsolescence exmts due to traffic noise from PA
Route 581 which abuts subject at rear property line
Comments on Sales Comparison
Days en market Comparable No I 22 days, Comparable No 2 7 days, Comparable No 3 53 days After a thorough
search of all available market data, the three sales used are considered to be the best md~cators of value Appropriate
adjustments have been made for all differences After consideration of all relevant factors, the comparables used are the
best md~cators of value although they are all h~gher ~n pnce than the final value estimated for the subject All three sales are
considered to be rehable Indicators of value, and are weighted similarly In the final reconcdlabon Comparable sales used
are all closed sales All three comparable sales are located m the same market area as the subject and would be
considered by the same prospective purchaser of all were on the market at the same hme as the subject
Ftnal Reconc~hatlon
Th~s appraisal assumes a reasonable markebng period fur the subject property of four months The Sales Comparison
Ana~ys~s reflects recent achwty m the market place and ~s g~ven the most weight The Cost Approach tends to set the upper
hmlt of value and the Market Approach is considered the best Indicator of value The Income Approach ~s ~nappreprlate
because few s~ngle family houses are rented ~n th~s market
Addendum Page
20 Erford Road · Lemoyne, Pennsylvania 17043 * 717-731-1990 · Fax 717-731-8765
P 0 Box 3004 · Harrisburg, PA 17105-3004 · www LandmarkCommerclalRealty corn
August2,2002
Mr Scott D~nner, Esq
3117 Chestnut Street
Camp Hdl, PA 17011
RE 2570 Interstate Drive
Harnsburg, PA
Attorney D~nner
On behalf of Mr Larry Hull an~d the Hull Estate and Trust, owner of 2570 Interstate Drive,
Harrisburg the ~ntent of th~s letter ~s to provide an esbmate of FAIR MARKET VALUE of the
subject properly
FAIR MARKET VALUE ~s an estimate based on current market cond~bons and recent sale
comparables of similar properbes In order to make an accurate comparison between the
subject property and s~mdar properties that have sold ~n the recent past a complete descnpbon
of the subject property's current cond~bon and pos~t~on ~n the market must be carefully
considered
The subject property ~s an 11,750 square foot s~ngle story office budding mtuated on
approximately two acres ~n Commerce Park, located near the ~ntersect~on of 1-81 and Progress
Avenue The budding ~s currently being used as Trane Companies Regional Office The lease
w~ll expire ~n the W~nter of 2003 and Trane plans to expand and relocate In ~ts' current
cond~bon the budding has approximately ten (10%) percent warehouse/storage area w~th a 10 ft
x 10 ft roll-up garage door that can be seen from Interstate Drive
The lack of w~ndows ~s an area of concern when marketing th~s property as an office asset
Unhke the comparable buddings attached, the subject property wdl require w~ndows added and
the roll-up door removed We esbmate th~s cost to be approximately $30,000 00 to $40,000 00
The ex,sting office bu~ldout must be demohshed and will require a m~n~mum of $25 00 per
square foot to renovate and rehab to bring the asset to Class "B+" office standards
Furthermore, the subject has a dnvet facade as opposed to brick, like the attached comparable
properties and should command a rental rate of ten (10%) percent to fifteen (15%) percent less
than the comparable properties outlined ~n th~s analys~s
In summary, ~t ~s ~mpor[ant to understand that the Sale Comparables attached hereto were sold
dunng a bme of ~ncreased tenant demand which ~n turn fueled speculabve development
acqulslbons and an overall exuberant consumer confidence level Therefore, due to the
reasons outlined ~n th~s analysis and the increased vacancy levels ~n the Suburban East Shore
Member of
Internabonal Councd
of Shol~pmq Centers
naioD
Inch. v~dual Membership
Society of Indusmal and
Mr Scott D~nner, Esq
August 2, 2002
Page Two
Off,ce Market, potential ~nvestors should seek to acquire the subject property at a value of
fifteen (15%) percent to twenty (20%) percent less than the values that were achieved for the
attached Sale Comparables
In conclusion, we feel the subject property should sell in the range $52.00 to $$7.00 PSF
Therefore we are of the op~n~on the FAIR MARKET VALUE for the subject property to be SIX
HUNDRED AND FORTY THOUSAND DOLLARS ($640,000.00) ($54.$0 PSF).
Feel free to contact me at 731-1990 w~th any further questions or concerns
Thomas T Posavec
V~ce President
Commercial/Industrial Sales
TTP/ajk
eno
Th~s analysis has not been performed m accordance w~th the Uniform Standards of Professional Appraisal Practice
which require valuers to act as unbiased, d~slnterested third parties w~th ~mpart]allty, objectwlty and independence
and w~thout accommodabon of personal interest
It is not to be construed as an appraisal and may not be used as such for any purpose A comparative market
analysis prepared In accordance with th~s act shall not be deemed to be an appraisal within the scope of the July 10,
1990 (P L 404, No 98), know;~ as the "Real Estate Appraisers Certification Act"
ESTIMATE OF FAIR MARKET VALUE
COMPARABLE #1
ADDRESS 940 East Park Dnve
Harrisburg, PA
FLOORS FOUR
BLDG AREA 20,000 Sq Ft
OCCUPANCY RATE 0%
SALE PRICE $885,000 00
PARKING 3 Per 1,000 Sq Ft
SALE PRICE PER SQ FT $44 25 PSF
TRANSACTION DATE May 1998
BUYER
SELLER
Umon
940 Associates
M~d Atlantic Federal Credit
COMMENTS Excellent location
window hnes Prestigious Union
Deposit Corporate Park
Good
ESTIMATE OF FAIR MARKET VALUE
COMPARABLE #2
ADDRESS 2578 Interstate Drive
Harrisburg, PA
FLOORS One
BLDG AREA 13,500 Sq Ft
OCCUPANCY RATE Fac~hty will be
vacant
SALE PRICE $850,000 00
PARKING 4 Per 1,000 Sq Ft
SALE PRICE PER SQ FT $62 96 PSF
TRANSACTION DATE June 24, 1999
BUYER
SELLER
2578 Associates
PA Nurses Association
COMMENTS Single stoW Class "B+"
facility acquired on a speculative basis
Nurses Association leased back 2,700
square feet Located In Commerce
Park
ADDRESS
ESTIMATE OF FAIR MARKET VALUE
COMPARABLES #3
2690 Commerce Drive
Harrisburg, PA
FLOORS Two
BLDG AREA 10,000 Sq Ft
OCCUPANCY RATE 50%
SALE PRICE $664,000 00
PARKING 55Per1,000Sq Ft
SALE PRICE PER SQ FT $64 00
BUYER 2690 Associates
SELLER DGS Development Group
TRANSACTION DATE December
1999
COMMENTS Two stow off~ce building
w~th plenty of w~ndows At time of
acquisition the property was 50%
leased Building has attracbve parking
ratio and excellent access to 1-81
Located ~n Commerce Park
ADDRESS
ESTIMATE OF FAIR MARKET VALUE
COMPARABLE ~-4
2575 Interstate Drive FLOORS One
Harnsburg, PA
BLDG AREA 14,400 Sq Ft
SALE PRICE $950,000 00
SALE PRICE PER SQ FT $65 97 PSF
BUYER 2575 Associates
SELLER El Associates
OCCUPANCY RATE 60%
PARKING 6 Per 1,000 Sq Ft
TRANSACTION DATE July 1997
COMMENTS S~ngle stow Class "B+"
fac~hty with ample parking New roof
Excellent ~ntenor ~mprovements
Tenants ~n place Located ~n
Commerce Park
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
SCHEDULE B
STOCKS & BONDS
ESTATE OF
HULL. HERBERT L.
All property Jointly-owned with right of survivorship must be disclosed on Schedule F
FILE NUMBER
21 02 00515
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
2297 SH WACHOVIA BANK COMM STK ~ 29 54/SH
2281 SH ALLIANT ENERGY COMMON STOCK ~ 29 39/SH
5096 643 SH MFS GLOBAL EQUITY FUND- A @17 95
25 5 SH MFS MUNI INCOME FD- A @ 8 45
1474 047 SH FIDELITY FUND @ 24 10
124 SH WISCONSIN PUBLIC SVC CORP COMM STK ~ 33 78
68 SH GENERAL MOTORS CORP COMM STK @ 43 41
20 SH NEW ENGLAND UTILITIES COMM STK @ 17 85
24SHEDSCORPCOMM STK (~6406
480 SH IBM CORP COMM STK @ 109 31
3097 SH PA COMMERCE BANCORP COMM STK @ 33 88
250 NORTH PENN PA G/O SCHOOL DIST MUNI BONDS @ 106 25
250 BANGOR PA G/O AREA SCHOOL DIST MUNI BONDS @ 102 30
200 PHILA PA AUTH IND DEV MUNI BONDS @ 96 5
1078 353 SH SCUDDER MANAGED MUNI BOND FUND CIA (~ 9 21
100 STATE OF FLORIDA BD OF EDUC CAPITAL OUTLAY BONDS @ 100 00
67,853 O0
67,039 O0
91,485 O0
215 O0
35,525 O0
4,189 O0
2,952 O0
357 O0
1,537 O0
52,469 O0
104,926 O0
26,563 O0
25,575 O0
19,300 O0
9,932 O0
10,000 O0
TOTAL (Also enter on line 2, Recapitulation) $ 546,940 O0
more space ~s needed, insert additional sheets of the same size)
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
HULL, HERBE~,T L 21 02
Pa,qe 1
Schedule B - Stocks & Bonds
00515
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
17 20,000 00
18
19
200 PA HIGHER ED U OF PA REV BONDS @ 100 00
1661 SH M-L CMA TAX EXEMPT FUND @1 00
170 SH AT&T COMMSTOCK ~31 54
1,661 00
5,362 00
SUBTOTAL SCHEDULE B 27,023 00
GRAND TOTAL SCHEDULE B $ 546,940 00
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
ESTATE OF FILE NUMBER
HULL. HERBERT L. 21 02 00515
Include the proceeds of ht~gat~on and the date the proceeds were recerved by the estate All property Jointly. owned with the right of sul..,ivo rshlp must be disclosed on Schedule F
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
5,800 00
AUTOMOBILES
1993 LINCOLN CONTINENTAL
1992 CHEVROLET SUBURBAN
PERSONAL PROPERTY
LYCOMING COUNTY
2820 FAIRVIEW ROAD
$3300
2500 APPRAISED BY BARRY K TOLBY, CAGA
$9680
7639
2820 FAIRVIEW ROAD HUNTING & FISHING TROPHIES 15691
LAKE MEADE DRIVE 4974
APPRAISED BY BARRY K TOLBY, CAGA
COMMERCE BANK CHECKINGACCT NO 0512001140
10 UNITS CAPITAL REALTY INVESTORS IV
LIMITED PARTNERSHIP @ $33 PER UNIT
10 UNITS ML MEDIA PARTNERSHIP L P
LIMITED PARTNERSHIP @ $708 PER UNIT
OWNERSHIP SHARE IN WINAKE LODGE
37,984 00
31,163 00
330 00
7,080 00
2,000 00
TOTAL (Also enter on I~ne 5, Recapitulation) $ 84,357 00
(If more space is needed, insert additional sheets of the same size)
Appraisal
Report
COPY
HERBERT L HULL, ESTATE
HUNTING CABIN
LYCOMING COUNTY
EAST BERLIN, Pennsylvama
Prepared for:
LAWRENCE C HULL, EXECUTOR
5253 MEADOWBROOK DR
MECHANICSBURG, Pennsylvama 1701 l
(717) 554-3496
File #APPR 103
Prepared by:
Barry K Tolby, AUCTIONEER/APPRAISER
EMERALD AUCTION AND APPRAISAL SERVICE
15 SYCAMORE CiRCLE
ETTERS, Pennsylvama 17319
(717) 938-3306
Member: Certified Apprmsers Guild of America
Table of Contents
Title Page
Table of Contems
Summary
Analysis
Conchtions of Appraisal
CertlficaUon
Purpose of Report
Method of Valuauon
Definition of Value
Bas~s of Apprmsal
DescnpUon
Apprmser Quahficanons
Value Listings
1
2
3
4
5
5
6
6
6
6
6
7
Appendix A
Page 2 of 9
Summary
On July 30, 2002, at the request of LAWRENCE C HULL, I personally inspected the assets
HUNTING CABIN, LYCOMING COUNTY, EAST BERLIN, Permsylvama
Value
Fmr Market Value
The Fatr Market Value for the property m total is
$15,480.00
Th~s ~s not the apprmsal report The appraisal report must be read ~n ~ts entirety.
Page 3 of 9
Analysis
Analysis
The analys~s on all the ~tems were based on the references and processes hsted below,
M & S Cycle Shop, Chambersburg, Pa
Edmunds Auto Guide
Cheaper Than Dm-t Hunting Catalog (Wholesale)
Gander Motmtam Outdoors, Chambersburg, Pa
John Deer, Chambersburg, Pa.
Blue Book of Gun Values
Prewous Auctions
Market Value
Condmon
Page 4 of 9
Conditions of Appraisal
The value stated m this Apprmsal Report is based on the best judgment oft.he apprmser given the
facts and cond~tnons available at the date of the valuation
The use of the report ~s hmlted to the purpose of determlmng the value of personal property for
Estate Tax purposes
Any ad&tional research or testnuony reqmred by the client or the court will be billed at the
current rates
Disclosure of the contents of the report is governed by the Standards and Practices of the
Certified Apprmsers Guild of America
Certification of Report
Neither Ban'y K Tolby, EMERALD AUCTION AND APPRAISAL SERVICE nor any of its
employees have any present or future interest in the subject property No protnbited fee was
assessed for thts report
Barry K Tolby of EMERALD AUCTION AND APPRAISAL SERVICE has successfully
completed the personal property apprmser cemfication program voth the Cemfied Apprmsers
Guild of America and is a member in good standing This report was prepared in accordance
with the Umform Standards of Professional Apprmsal Practice and with the Standards and
Practices of the Cerufied Appraisers Gmld of America which has review authority of this report
Barry K Tolby has personally examined the subject property
mle and correct t~,~best knowledge
The statements of fact contained
and behef of the apprmser
Page 5 of 9
Purpose of the Report
The purpose of tins report is to determine the value for Estate Tax purposes for LAWRENCE C
HULL, MECHANICSBURG, Pennsylvama
Method of Valuation
The method of valuauon used for tins apprmsal Is the Fmr Market Value
Definition of Value
Fmr Market Value
Under the United States Treasury regulation 1 170-1c Fair Market value ~s defined as
The price at winch the property would change hands between a willing buyer and a vnlhng seller,
neither being under compulsion to buy or compulsion to sell and both having reasonable
knowledge
Basis of Appraisal
Valuation Date
The date of valuation for determining the value estimation is July 30, 2002
Date Appraisal Conducted
This apprmsal was conducted on July 30, 2002
Limitations of Property
There were no llm~tatlons on use or d~sposlt~on of this property
Description
An ltermzed llst w~th descrlptmns is m Appendix A
Page 6 of 9
Barry K Tolby, AUCTIONEER/APPRAISER
EIvI~RALD AUCTION AND APPRAISAL SERVICE
15 SYCAMORE CIRCLE
ETTERS, Pennsylvania 17319
(717) 938-3306
Education & Special TraininE
I am a graduate of Hamsburg Area Commumty College School ofAucnoneermg I have been an
auctaoneer for 11 years
I am a graduate of the CAGA and am a certified Personal Property Apprmser
Professional Membership
I am a member ~n good standmg w~th the Certified Appraisers Guild of America
I am a licensed Auctioneer in good standing for the State of Pennsylvama
Professional Designation
I am a hcensed Auctioneer m the State of Pennsylvama~
I am a Cemfied Personal Property Appraiser
Page 7 of 9
Fmr Market Value
Appendix A
HEAVY/FARM EQUIPMENT
3,000 00 FORD TRACTOR MODEL 1210 WITH 3 POINT HITCH AND FORD 786 B
125.00
400 00
275 00
125.00
175 00
125 00
1,300.00
125 00
950 00
50.00
1,500 00
35 00
25 00
FRONT LOADER
FORD 781 FIELD PLOW
FORD 105 ROTOTILLER
FORD 715A SNOW BLOWER
BRINLY PLOW
HABAN 930A MOWER DECK (BUSH HOG)
HABAN MOWER ATTACHMENT
ARPS 70 BACKHOE
I GUARD LOG SPLITTER MODEL JGT-25
7' X 12' DOUBLE AXLE FLAT BED UTILITY TRAILER WITH BEAVER
TAIL AND RAMPS
UTILITY TRAILER 3' X 5'
HONDA FOURTRAX 300 4 X 4
HOMELITE 12" XL2 CHAIN SAW
YARDMAN 5 HP 20" CUT LAWN MOWER
FURNITURE
50.00
35 00
400 00
I00 00
10 00
5 00
10 00
15 00
I0.00
i0 00
50 00
20 00
5 00
300 00
20 O0
5 O0
50 O0
20 O0
15 O0
30.00
20 O0
AND HOUSEHOLD
SOLiD BRASS FLOOR LAMP
SPINDLE TABLE WITH BALL AND CLAW FEET
LARGE COLONIAL STYLE CORNER CABINET
DINING ROOM TABLE AND WITH 6 METAL AND LEATHER CHAIRS
3 TIER BOOK CASE
ARM CHAIR
SMALL CHEST OF DRAWERS
ROUND PEDESTAL END TABLE
EARLY AMERICAN COUCH AND 2 CLOTH CHAIRS
ROCKING CHAIR
SMALL DROP LEAF TABLE AND 3 CHAIRS
2 TALL CLEAR GLASS KERO LAMPS (2 orS10 00ea)
TABLE LAMP WITH WICKER SHADE
J C PENNEY LEATHER SOFA, LOVE SEAT, CHAIR AND OTTOMAN
CHAIR NEEDS REPAIRED
2 SMALL BRASS LAMPS WITH SILK SHADES (2 orS10 00ea)
CARD TABLE AND 3 CHAIRS
RAYO BRASS TABLE LAMP WITH HAND PAINTED GLASS SHADE
ROUND CAST IRON AND GLASS TABLE
WHITE HEAD BOARD AND 2 NITE STANDS
2 WHITE WICKER END TABLES (2 of $15 00ea)
WHITE WICKER SERVING CARD
Page 8 of 9
MISC.
10 O0
2.00
2 O0
3 O0
2 O0
15 O0
10 O0
25 O0
DIRT DEVIL VACUME CLEANER
TWVCR STAND
AM/SH TIN
2 PLASTIC CHAIRS AND 2 PLASTIC TABLES
ASSORTED CHRISTMAS ITEMS'
OLD ELECTROLUX VACUIV[E CLEANER
SANYO VCR
FISHER 27" COLOR PORTABLE TV--BAD WORKING ORDER
TOOLS AND HARDWARE ITEMS
25 00 LARGE BENCH VICE MADE IN CHINA
5 00 6' WOODEN STEP LADDER
40.00 24' METAL EXTENTION LADDER
10 00 SANDER NO NAME
25 00 8' WOODEN WORK BENCH
5 00 2 METAL STORAGE CABINETS
5 00 METAL SHELVING UNIT
75 00 25 NEW MOTORS RANGING FROM 1/4 HP AND UP NAME BRANDS
TRANE, GE, CENTURY (25 of $3 00ea)
1.00 WOOD BURNING STOVE IN VERY BAD SHAPE
25 00 ASSORTED HAND TOOLS
5.00 WALL MOUNT GUN RACK (4 GUN)
AUTOMOBILES
3,300 00 1993 LINCOLN CONTINENTAL WITH 115,000 MILES AND IS GOOD
CONDITION
2,500 00 1992 CHEVY SUBURBAN WITH 111,000 MILES AND NEEDS BODY AND
MECHANICAL WORK
15,480 00 Total
Page 9 of 9
Appraisal
Report
cePl-
HERBERT L HULL, ESTATE
2820 FAIRVIEW RD
CAMP HILL, Permsylvama 17011
(717) 554-3496
Prepared for:
LAWRENCE C HULL, EXECUTOR
5253 MEADOWBROOK DR
MECHANICSBURG, Pennsylvama 17055
(717) 554-3496
File #APPR101
Prepared by:
Barry K. Tolby, AUCTIONEER/APPRAISER
EMERALD AUCTION AND APPRAISAL SERVICE
15 SYCAMORE CIRCLE
ETTERS, Permsylvama 17319
(717) 938-3306
Member: Certffied Apprmsers Gmld of America
Table of Contents
Title Page
Table of Contents
Summary
Analys~s
Conditions of Apprmsal
Certification
Purpose of Report
Method of Valuation
Defimt~on of Value
Basis of Apprmsal
Descnptmn
Appraiser Quahficanons
Value Listings
1
2
3
4
5
5
6
6
6
6
6
7
Appenchx A
Page 2 of 13
Summary
On July 27, 2002, at the request of LAWRENCE C HULL, I personally ~nspected the assets of
H]ERBERT L HULL, 2820 FAIRVIEW RD, CAMP HILL, Pennsytvama.
Value
Fmr Market Value
The Fmr Market Value for the property m total ~s:
$7,639.00
Tlns is not the apprmsal report The apprmsal report must be read ~n ~ts entrrety
Page 3 of 13
Analysis
Analysis
The analysis on all the items were based on the references and processes hsted below;
M & S Cycle Shop, Chambersburg, Pa.
Edmunds Auto Grade
Cheaper Than Dirt Hunting Catalog (Wholesale)
Gander Mountain Outdoors, Chambersburg, Pa
John Deer, Chambersburg, Pa
Blue Book of Gun Values
Prewous AucUons
Market Value )
Condinon
Page 4 of 13
Conditions of Appraisal
The value stated tn tins Apprmsal Report ts based on the best judgment of the apprmser given the
facts and conditions avmlable at the date of the valuation
The use of the report ts lumted to the purpose of determining the value of personal property for
Estate Tax purposes
Any addiuonal research or testimony reqmred by the client or the court will be billed at the
current rates
D~sclosure of the contents of the report ts governed by the Standards and Pracuces of the
Cernfied Appraisers Guild of America
Certification of Report
Neither Barry K Tolby, EMERALD AUCTION AND APPRAISAL SERVICE nor any oftts
employees have any present or future interest m the subject property No prohtb~ted fee was
assessed for tbas report
Barry K Tolby of EMERALD AUCTION AND APPRA/SAL SERVICE has successfully
completed the personal property appraiser certification program uath the Cernfied Apprmsers
Guild of America and ts a member in good standing Thts report was prepared m accordance
with the Umform Standards of Professional Apprmsal Pmctme and with the Standards and
Practtces of the Certafied Appraisers Gmld of America wbach has review authority of this report
in tins rep. oet~true and correct to the. best 'knowledge
//By l~ry ,I~14oy, C/~.~.X/ //
EMERAL UCTION ^NE(31 PRAISAL SERVICE
Barry K. Tolby has personally examined the subject property The statements of fact contained
and belief of the apprmser
Page 5 of 13
Purpose of the Report
The purpose of ttus report ~s to determine the value for Estate Tax purposes for LAVv~LENCE C
HULL, MECHANICSBURG, Permsylvama
Method of Valuation
The method of valuatxon used for tins apprmsal xs the Fair Market Value
Definition of Value
Fmr Market Value
Under the Umted States Treasury regulatnon 1.170-1c Fmr Market value ~s defined as.
The price at winch the property would change hands between a willing buyer and a w~lling seller,
nmther being under compulsmn to buy or compulsmn to sell and both having reasonable
knowledge
Basis of Appraisal
Valuation Date
The date of valuation for determining the value esnmanon ~s July 27, 2002.
Date Appraisal Conducted
Tins appratsal was conducted on July 27, 2002
Limitations of Property
There were no hm~tat~ons on use or dmpos;Uun ofttus property.
DescnpUon
An xtem~zed hst w~th descnptmns ~s m Appendix A
Page 6 of 13
Barry K. Tolby, AUCTIONEER/APPRAISER
EMERALD AUCTION AND APPRAISAL SERVICE
! 5 SYCAMORE CLRCLE
ETTERS, Pennsylvania 17319
(717) 938-3306
Education & Special Trainin~
I am a graduate of Hamsburg .~rea Commumty College School of Auctloneefing I have been an
ancnoneer for 11 years
I am a graduate of the CAOA and am a eemfied Personal Property Apprmser
Professional Membership
I am a member in good standing vath the Cemfied Appraisers Gmld of America.
I am a hcensed Auctioneer m good standing for the State of Permsylvama
Professional Designation
t am a hcensed Aucuoneer m the State of Pennsylvama.
I am a Cemfied Personal Property Apprmser
Page 7 of 13
Fair Market Value
Appendix A
FURNITURE
5 00
12.00
15 00
10.00
10 00
20 00
5.00
10.00
2 00
3.00
1.00
10 00
10.00
10.00
10.00
1 00
10.00
25 00
CLOTH LOVE SEAT
3 COFFEE TABLES (4 of $3 00ea)
SMALL BLACK CH2EST OF DIL~kWERS
2 LARGE WOODEN OFFICE DESKS (2 of $5 00ea)
WOODEN DESK CHAIR
CAST IRON AND FORMICA TABLE AND 4 CHAIRS
METAL AND GLASS SHELVING UNIT
2 OLD OAK CHAIRS (2 of $5 00ea)
FLOOR LAMP
ROUND COFFEE TABLE
END TABLE IN BAD SHAPE
BLUE CLOTH L SHAPED SECTIONAL COUCH
FOLDING CLOTH STRAP LOUNGE CHAIRS (2 of $5.00ea)
SMALL 3 SHELF WOODEN SHELVING UNIT
2 DESK LAMPS (2 of $5 00ea)
TIN WALL LAMP
CRANBERRY GLASS TABLE LAMPS (2 of $5 00ea)
EUREKA VACUME CLEANER (THE BOSS)
SPORTING
10.00
2.00
10.00
i0 00
10.00
1 00
1 00
1 00
3 00
1 00
I 00
75 00
10 00
15 00
1.00
1 00
10 00
5 00
10 00
1 00
EQUIPMENT
3 WOODEN GOOSE/DUCK CALLS
PLASTIC/RUBBER CAMO DUCK CALL
TAYLOR COMPASS IN LEATHER CASE
STILLETO POCKET KNEFE
2 HUNTING JACKETS (2 of $5 00ea)
2 PAIR HUNTING PANTS
RAIN JACKET
2 HUNTING SHIRTS (2 of $0.50ea)
2 QUILTED VESTS AND PANTS
ORANGE SAFETY VEST
3 PAIR USED HUNTING BOOTS
JENNINGS SUPER T II HUNTING BOW IN GOOD CONDITION
5 SOFT RIFLE CASES IN GOOD CONDITION (5 of $2.00ea)
2 HARD CASES FOR RIFLES ONE IS IN BAD SHAPE. (2 of $7 50ea)
ONE PAIR SUPER STRIDE BINDERS
3 PAIR SOREL FOOT WEAR
SHOOTING MAT IN GOOD CONDITION
SHOOTING EAR PROTECTORS IN GOOD SHAPE
HUNTING KNIFE-- NO CASE
PUMA HUNTING KNIFE CASE
Page 8 of 13
2.00
10.00
20 O0
I0 O0
10 O0
30 O0
300.00
2 O0
20 O0
15 O0
10.00
3.00
10 O0
10 00 5 LEATHER RIFLE SLINGS ONE STILL NEW IN BOX (5 of $2.00ea)
75 00 PUMA, WHITE HUNTER, BOWIE KNIFE WITH WOODEN CASE
25 00 FRANKLIN MINT COLLECTOR KNIFE BALD EAGLE ON KNIFE AND
TRIMMED IN 24 K GOLD
15 00 COMPETiTION SHOOTING BOX WITH OLD AND ENDS ASSORTED
SHOOTING EQUIPMENT
WESTERN CLAY PIGEON HAND TRAP
OLD POCKET KNIFE
MARTIN FISHING REEL AND LINE
FISHING JIGS AND LURES
WOODEN SCOPE BOX
DEEP SEA FISHING RODS (3 of$10 00ea)
2 FISHING RODS (2 of $150 00ea)
TWO MARBLES WATER PROOF MATCH CONTAINERS (2 of $1 00ea)
ALASKAN HUNTING KNIFE (SIGNED)
THREE SANS SOUCI LIFE VESTS 1N GOOD SHAPE (3 of $5 00ea)
KELTY BACK PACK IN LIKE NEW CONDITION
STANSPORT BACK PACK--FAIR
2 METAL CANS MARKED .30 CAL BALL M2 WITH ASSORTED
HUNTING ITEMS IN TI-IEM (2 of $5 00ea)
l0 00 WOODEN 30 CAL AMMO BOX
35 00 BUSHNELL SCOPE CHIEF 6X
5 00 SCOPE MOUNT
35 00 BUSHNELL 15X-4X BANNER SCOPE
10 00 MITCHELL FISHING REEL
3.00 PROSTAFF FISHING REEL
5 00 30 CAL FEEDER CLIPS
5 00 GUN SIGHT
10 00 BOX WITH 2 RIFLE BARRELS AND ASSORTED GUN PARTS AND
TROPHY PARTS
10 00 1959 PA HUNTING LICENCE
3 00 1996 HUNTING LICENCE
3 00 WOODEN DUCK DECOY KIT
10.00 ASSORTED DUCK DECOYS ( WOOD AND CERAMIC)
50 00 2 BOXES OF NEW MUSKRAT TRAPS (2 of $25 00ea)
25 00 1 BOX OF WOODSTREAM TRAPS (SQUARE TYPE TRAPS)
3 00 HAND TOOLED LEATI-[ER FISHING SEAT. IN FAIR SHAPE
35 00 HAND CARVED WOODEN DESK MODEL OF A CESSNA 172
3 00 2 SMALL CRYSTAL AIR PLANES AND ONE IS BROKEN
WWII ITEMS
5 00
5 00
10 00
45 00
10 00
1 00
2.00
CANTEEN WITH WEB BELT AND EXTRA STRAP
AIR MATRESS
SLEEPING BAG
3 WORLD WAR II BAYNOTS (3 of $15 00ea)
2 HERRINGBONE IV[[LITARY UTILITY JACKETS (2 of $5 00ea)
MILITARY KACKI DRESS SHIRT
DUFFLE BAG
Page 9 of 13
25 00 MEDALS, RIBBON BARS, AND OVERSEAS STRIPES
10 00 M-11 PRACTICE RIFLE GERNADE
15 00 BOOZOOKA ROCKET FOR ROCKET LAUNCHER
75 00 GERMAN J-DEDER 504 IN ORIGINAL WOODEN BOX
5 00 GE1LM~N BINOCULARS 6 x 30 AND LEATHER CASE
SHOOTING MEDALS AND TROPHIES
400.00 THERE ARE APPROXIMATELY 80 SHOOTING MEDALS AND
TROPHIES FROM THE 40'S AND 50'S THESE WERE AWARDED BY THE
FOLLOWING CLUBS.
ASSOC GUN CLUBS OF BALTIMORE
CENTRAL PA RIFLE LEAGUE
IDRA RIFLE/PISTOL CLUB WASH. D C
WM PENN PISTOL LEAGUE
DELAWARE RIFLE/PISTOL CLUB
CARLISLE GUN CLUB
EASTERN PA RIFLE LEAGUE
CENTRAL PA RIFLE LEAGUE
PA RiFLE/PISTOL ASSOCIATION (80 of $5.00ea)
8.00 4 WOODEN SHOOTING TROPHIES (4 of $2 00ea)
2 00 ONE PLASTIC TROPHY
50.00 5 SILVER PLATED SHOOTING TROPHIES ONE LARGE SILVER
PLATED CUP (5 of$10 00ea)
15 00 3 NRA PATCHES FOR A JACKET DATED; 1953, 1954, 1955 IN NICE
SHAPE. (3 of $5 00ea)
RIFLE AND PISTOL AMMUNITION
100 O0
205 00
75 00
150.00
80 00
16 00
12 00
10 00
10 00
10 00
5 00
3 00
24 00
15 00
5 00
8 00
10 00
2 WOODEN AMMO 30 CAL BOXES OF 30 CAL BRASS AND CLIPS (2 of
$50 00ea)
29 BOXES OF 12 GA. SHOTGUN AMMUNITION (41 of $5 00ea)
LARGE BOX OF LOOSE 12 GA SHOTGUN g_M2ML.nffITION
3 CASES OF FED 12 GA. SHOTGUN AMMUNITION (3 of $50 00ea)
10 BOXES OF 9MM LUGER AMMO (t0 of $8 00ea)
2 BOXES OF 38 SPEC AMMO (2 of $8.00ea)
3 BOXES OF 12 GA SLUGS (3 of $4 00ea)
2 BOXES OF 410 GA. AMMO (2 of $5 00ea)
ONE AND A HALF BOXES OF 30-06 AMMO
ASSORTED LOOSE RIFLE AND PISTOL AMMO
5 BOXES OF 22 CAL SHORTS (5 orS1 00ea)
3 BOXES OF 22 LONGS (3 o£$1 00ea)
4 AND A HALF BOXES OF 180 GR 308 BULLETS (4 of $6 00ea)
5 BOXES OF 50 GR 22 CAL BULLETS (5 0£$3 00ea)
ONE BOX 30 CAL 150 GR BULLETS
2 BOXES OF 10 GA SHOT GUN AMMO (2 of $4 00ea)
BANDOLEER WITH 30 CAL AMMO AND CLIPS
RIFLES AND HAND GUNS
Page I0 of 13
325 00
275 00
65 O0
400 00
250 00
50 00
60 00
15 00
120 00
300 00
300 00
460 00
100 00
1,000 00
COLT MK IV SERIES 70 GOV'T MODEL 45 CAL.-- HAS SOME RUST IN
BARREL AND CLIP IS MISSING. SER# 70G35763
COLT DET SPEC 38 WITH HOLSTER
SER#
ITALL&N BLACK POWDER 44 CAL (NAVY MODEL)
U S SPRI2qGFIELD MODEL 1903 (WITH]N SER # RANGE) 1264281
DANZIG- 1917
SER# 0761
J STEVENS ARMS "CRACKSHOT" 22 CAL PITTED BARREL, TRIGGER
GUARD LOOSE
REMINGTON MODE 582 22CAL TUBE FED, WITH SCOPE ( PITTED
BARREL)
J STEVENS ARMS SINGLE SHOT 12 GA (BAD SHAPE) SER# 472
REMINGTON MODEL II IS ABOUT 70% SER~ .354824
BROWNING MAG TWELVE SER# 38870
BROWING LIGHT TWELVE SER# 19953
ITHACA MAG 10 GA MODEL MAG-10
SER#
REMINGTON MODEL 582 22 SHORT WITH WEAVER ALL WEATHER
SCOPE
SER# 1242116
WINCHESTER MODEL-52 TARGET RIFLE WITH VAVER SIGHTS,
JIJNERFL SCOPE, CUSTOM HAND GRIP, SILVER CUSTON BUTT
PLATE SER# 58340 B
COLLECTABLE
100 O0
20 O0
85 00 WEDGE WOOD BOWL
50 00 WEDGE WOOD CANDLE HOLDERS
3 00 SILVER WINE CORK
3.00 GLASS WINE CORK WITH FLOWERS
10 00 11 Ukrmman COLORED EGGS
20 00 LEFTON CHINA HUMMING BIRD
3 00 ISCO PORCELAIN RING HOLDER
5 00 PORCELAIN JEWELRY BOX
3 00 ROOSTER SALT AND PEPPER SHAKER
25 00 HALL BOWL WITH FLOWERS
5 00 NIPPON PLATE
15 00 2 FLUTED GLASS FLOWER PLATES (2 of $7 50Pa)
10 00 SILVER PLATE COLLECTION CONTAINING BOWL, BUTTER DISH,
PLATE, KNIFE, AND CANDY DISH
3 00 CERAMICS FROM KENYA
3 00 2 BAVARIAN PLATES
50 00 WHITE AND YELLOW DOOR SEAL FROM SPACE SHIP "ENDEAVOR"
WITH LETTER OF AUTHEN
10.00 FRAMED 105 CONFEDERATE NOT FROM CONFEDERATE LIBRARY
MEMPHIS
BRASS SPITTOON MARKED "UNION PACIFIC RAILROAD"
PICKET LINE NEW HAVEN MANTEL CLOCK WITH BROKEN GLASS
Page 11 of 13
15 00 I950'S CAMPBELLS SOUP PLASTIC CUP WITH KIDS FACE ON IT
50 00 BRAND NEW SILK TOP HAT STEEL IN ORIGINAL BOX.
ELECTRONICS
40 00 OLD GAF MOVIE CAMERA WITH CASE AND SUPPLIES
5 00 CONSTELLATION PROJECTOR
5 00 GAF MOVIE PROJECTOR
I 00 GARRAUD TURN TABLE
1 00 FISHER A_M/FM RECEIVER
1.00 KODAK SLIDE PROJECTOR
3 00 MOVIE SCREEN
HAND
25 00
150 O0
AND POWER TOOLS--HARDWARE
25.00 BLACK AND DECKER STEEL JIG SAW AND BLADES
10 00 SOLDERING GUNS
2.00 BURGESS VIBRATING TOOL
25 00 CRAFTSMAN 71/4" 21/2 HP CIRCULAR SAW (METAL)
5 00 SKIL CIRCULAR SAW IN BAD SHAPE
30 00 CRAFTSMAN DRILL PRESS WITH DRILL AND BITS (STEEL DRILL)
TABLE TOP MODEL
SH1NDAIWA GAS WEED WACKER
ASSORTED SAWS, HAND DRILLS, HAMMERS, SQUARES. CHIZZELS,
PLYERS, MEASURING TAPE, SCREW DRIVERS, TIN SNIPS, TOOL BOX,
WRENCHES, NUTS, BOLTS, NAILS, HATCHET
40.00 4 SETS OF TIRE CHAINS (4 of $10.00ea)
5 00 BATTERY CHARGER
2 00 EXTENTION CORD
l0 00 SEARS CRAFTSMAN VICE
10 00 HEAVY EQUIPMENT HEX WRENCH MARKED WILLIAMSPORT, PA.
20 00 BLACK AND DECKER BENCH GRINDER
50 00 7 FOOT WOODEN WORK BENCH
3 00 TALL GREEN METAL CABINET
2 00 SMALL METAL STEP LADDER
10 00 2 WOODEN AND METAL STOOLS
BRIC-O-BRAC
100 00 THERE ARE ASSORTED WOODEN CARVED STATUES, BOOKENDS,
PLANTERS, PICTURES, TRIVETS, AND MANY OTHER ASSORTED
SMALLS TO NUMEROUS TO LIST.
MISC.
1 00 OLD T-SQUARE FOR MECHANICAL ENGINEERING DRAWINGS
2 00 ROBINAIR HIGH VACUME PUMP
20 00 ASSORTED CHRISTMAS ITEMS
5 00 3 ROLES OF RUG
1 00 SUIT BAGS
15 00 ARMY FOOTLOCKER
5 00 FOOTLOCKER
Page 12 of 13
1.00
5.00
10 O0
I0 O0
5 O0
15.00
20 O0
5 O0
25 O0
7.639 O0
1 O0 SLIDE RULE
5 00 3 BAGS OF SEA SHELLS
5 00 PIANO MUSIC
10 00 NUMEROUS BOXES OF BOOKS
10 00 ASSORTED WALL PICTURES
0 00 MANY LARGE BOXES OF FAMILY SLIDES AND PICTURES-- "NO
VALUE TO THESE"
3 00 5 GAL AQUARIUM ,
2.00 3 THERMOS BOTTLES
50 00 10 DIFFERENT AFGHANS (10 of $5 00ea)
5 00 BOX OF STUFFED ANI2MALS
20 00 COMPLETE SET OF WILSON GOLF CLUBS WITH BAG AND HEAD
COVERS
PLASTIC GARDEN WATER FALL
GEORGA MOON CORN WHISKEY
SOUTHERN BELL PEE WATER (UNDILUTED)
BRASS INDIA MANTEL ORNAMENTS
BOXES OF BLANKETS, LINEN, TOWELS, ETC
INDIAN HEAD DRESS
8 METAL CHAIRS AND 1 CARD TABLE
THROW RUGS, BED SPREADS AND WALL MIRROR
ZENITH 19" COLOR CONSOLE
Total
Page 13 of 13
r ·
App_ rosa!
Report
HERBERT L HULL, ESTATE
APPILadSAL OF HUNTING AND FISH lNG TROPHIES
2820 FAIRVIEW ROAD
CAMP HILL, Permsylvama 17011
(717) 554-3496
Prepared for:
LAWRENCE C HULL, EXECTUTOR
5253 MEADOWBROOK DR.
MECHANICSBURG, Pennsylvama 17055
(717) 554-3496
File #APPR104
Prepared by:
Barry K Tolby, AUCTIONEER/APPRAISER
EMERALD AUCTION AND APPRAISAL SERVICE
15 SYCAMORE CIRCLE
ETTERS, Pennsylvama 17319
(717) 938-3306
Member: Certffied Apprmsers Gmld of America
Table of Contents
T~tle Page
Table of Contents
Summary
Analys~s
Condmons of Apprmsal
Certification
Purpose of Report
Method of Valuauon
Defimt~on of Value
Bas~s of Appraisal
Descnptmn
Apprmser Quahfications
Value Listings
1
2
3
4
5
5
6
6
6
6
6
7
Appen&x A
Page 2 of 9
Summary
On August 1, 2002, at the request of LAWRENCE C HULL, I personally inspected the assets of
APPRAISAL OF HUNTING AND FISH ING TROPHIES, 2820 FAIRVtEW ROAD, CAMP
HILL, PennsTlvama
Value
Fmr Market Value
The Far Market Value for the property in total ~s
$15,691 00
Tins ~s not the apprmsal report The apprmsal report must be read m ~ts entirety
Page 3 of 9
Analysis
Analysis
The analys~s on ail the items were based on the references and processes hsted below,
M & S Cycle Shop, Chambersburg, Pa
Edmtmds Auto Grade
Cheaper Than Dm Hunung Catalog (Wholesale)
Gander Motmtmn Outdoors, Chambersburg, Pa
John Deer, Chambersburg, Pa
Blue Book of Gun Values
Previous Auctions
Market Value
Condmon
Page 4 of 9
Conditions of Appraisal
The value stated m fins Apprmsal Report ~s based on the best judgment of the apprmser g~ven the
facts and conditions avmlable at the date of the valuation
The use of the report ~s linuted to the purpose of determlmng the value of personal property for
Estate Tax purposes
Any additional research or tesnmony reqmred by the client or the court w~ll be bdled at the
current rates
Disclosure of the contents of the report is governed by the Standards and Practices of the
Certified Appraisers Guild of Amenca.
Certification of Report
Neither Barry. K Tolby, EMERALD AUCTION AND APPRAISAL SERVICE nor any or,ts
employees have any present or future interest m the subject property No prohibited fee was
assessed for this report
Barry K Tolby of EMERALD AUCTION AND APPRAISAL SERVICE has successfully
completed the personal property apprmser certification program w~th the Certified Apprmsers
Guild of America and is a member m good standing. Tbas report was prepared m accordance
wath the Uniform Standards of Professional Appraisal Pracnce and w~th the Standards and
Practmes of the Certified Appraisers Gmld of America wbach has review authority of tbas report
Barry K. Tolby has personally exammed the subject property The statements of fact contained
m ~s ~r~are true and correct t~.~e best knowledge and belief of the appraiser
~~RAISAL SERVICE
Page 5 of 9
Purpose of the Report
The purpose of iNs report is to determme the value for Estate Tax purposes for LA'~XENCE C
HULL, MECHANICSBURG, Permsylvama
Method of Valuation
The method of valuatlon used for ttus appraisal ~s the Fmr Market Value.
Definition of Value
Fmr Market Value
Under the Umted States Treasury regulation 1 170-1c Fair Market value xs defined as:
The price at which the property would change hands between a w~lling buyer and a willing seller,
neither being under compulsion to buy or compulsion to sell and both having reasonable
knowledge
Basis of Appraisal
Valuation Date
The date ofvaiuation for determining the value estm~atlon Is August 1, 2002
Date Apprmsal Conducted
Th~s apprmsal was conducted on August 1, 2002
Limitations of Property
There were no limitations on use or dlsposltton of this property
Description
An itemized l~st with descriptions is in Appendax A
Page 6 0£9
Ban'y K Tolby, AUCTIONEER/APPRAISER
EMERALD AUCTION ANT) APPRAISAL SERVICE
15 SYCAMORE CIRCLE
ETTERS, Pennsylvania 17319
(717) 938-3306
Education & Special TrainmE
I am a graduate of Harnsburg Area Commumty College School of AucUoneermg I have been an
aucuoneer for 11 years
I am a graduate of the CAGA and am a certified Personal Property Appraxser
Professional Membership
I am a member in good standing with the Cernfied Apprmsers Gmld of Amencz[
I am a licensed Auctioneer in good standing for the State of Pennsylvama
Professional Designation
I am a l~censed Aucuoneer ~n the State of Permsylvan~a.
I am a Certified Personal Property Appraxser
Page 7 of 9
Fair Market Value
Appendix A
HUNTING AND FISHING TROPHIES
600 00
400 00
350 00
450 00
260 00
500 00
500 00
1,000 00
700 00
700 00
400 00
300 00
350 00
500 00
650 00
70 00
300 00
45 00
300 00
300 00
300.00
300 00
300 00
350 00
60.00
45 00
450 00
25 00
50.00
50 00
50 00
100 00
15.00
35 00
35 00
30.00
35.00
80 00
35 00
275.00
AFRICIAN BUFFALO HEAD
BONGO HEAD
ARABIAN ORYX HEAD
ROAN ANTELOPE HEAD
SPRINGBOK HEAD
LARGE GREATER KUDU
MEDIUM GREATER KUDU HEAD
SMALL GREATER KUDE HEADS (2 of $500.00ea)
COMMON DEFASSA WATERBUCK HEADS (2 of $350 00ea)
UGANDA KOB HEADS (2 of $350 00ea)
THOMSON'S GAZELLE HEAD
AMERICAN BIG HORN HEAD
HAARTEBEEST HEAD
BLUE WILDEBEEST HEAD
2 PRONGHORN HEADS MOUNTED ON HIDE
WHITE TAIL DEER HEADS (2 of $35 00ea)
AFRICAN BUFFALO SET OF HORNS
SET OF CARIBOU ANTLERS
DESERT MT GOAT
STONE MT. GOAT
BIGHORN MT GOAT
DULL MT. GOAT
MT SHEEP HEAD
WART HOG HEAD
1 SET MOUNTED MOOSE HORNS
I SET MOUNTED CARIBOU HORNS
2 FULL MOUNTED TURKEYS (2 of $225 00ea)
LONG HORN HORNS
MOUNTED GRAYLING TROUT
MOUNTED CHAR
MOUNTED MUSKY
2 BEAR HIDES (2 of $50 00ea)
CARIBOU HIDE--TORN
ELK HIDE
GAZELLE HIDE
SMALL ANTELOPE HIDE (3 o£$10.00ea)
ELK HIDE
GAZELLE SKULLS AND HO1LNS (4 of $20 00ea)
WILDEBEEST HIDE
SMALL ANTELOPE HEAD
Page 8 of 9
750 00
275 00
25 00
45 00
400 00
400 00
RIFLES AND 500 00
350 00
140 00
300.00
425 00
275 00
MISC
15 00
3 00
5 00
10.00
75 00
6 00
5 00
2.00
25 00
50 00
5 00
10 00
300 00
15.691 00
SMALL FULL LIFE ANTELOPE
ANTELOPE HEAD
CHAR WITH BROKEN FiNS
SET OF ELK HORNS
BLACK SABLE HEAD
LARGE ANTELOPE
HANDGUNS
M-1 SPRINGFIELD .30 CAL SER# 1695574 EXCELLENT CONDITION
WINCHESTER MOD 61 WITH SCOPE
SER # 82285
REMINGTON SPORTMASTER WITH SCOPE MOD 341
WINCHESTER MOD 70 WITH BROKEN STOCK AND LEUPOLD SCOPE
25X3
MI9I 1Al COLT US ARMY 45 CAL WITH QUARTON BEAMSITE SER #
779684
US SPRINGFIELD SER # 1294984,30 CAL WITH SCOPE
WOODEN OFFICE DESK
DESK LAMP
FLOOR LAMP
2 DRAWER FILE CABINETS (2 of $5.00ea)
DAYTON TOOL CHEST ON ROLLERS AND TOOL BOX
WIRE CHRISTMAS DEER FOR YARD (3 of $2 00ea)
WOODEN TOOL BOX iN BAD SHAPE
ELECTROLUX VACUME CLEANER
PANASONIC VIDEO CAMERA WITH METAL CASE AND ACCESSORIES
SONY 32" COLOR TV
WALL PICTURE OF DUCKS
BUTTERFLY COLLECTION UNDER GLASS DOME
HAUL BOX TRAILER 8' X 12' RECONSTRUCTION
Total
Page 9 of 9
Appraisal
Report
HERBERT L. HULL, ESTATE
I86 LAKE MEADE DR.
EAST BERLIN, Permsylvama
Prepared for:
LAWRENCE C. HULL, EXECUTOR
5253 MEADOWBROOK DR
MECHANICSBURG, Permsylvama 17055
(717) 554-3496
File #APPR102
Prepared by:
Barry K. Tolby, AUCTIONEER/APPRAISER
EMERALD AUCTION AND APPRAISAL SERVICE
15 SYCAMORE CIRCLE
ETTERS, Pennsylvama 17319
(717) 938-3306
Member: Certified Appraisers Gmld of America
Table of Contents
Title Page
Table of Contents
Summary
Analysis
Conchtaons of Apprmsal
CemficaUon
Purpose of Report
Method of ValuaUon
Defimt~on of Value
Bas~s of Apprmsal
Description
Apprmser Quahficauons
Value L~sUngs
1
2
3
4
5
5
6
6
6
6
6
7
Appendix A
Page 2 of 10
Summary
On July 28, 2002, at the request of LAWRENCE C. HULL, I personally respected the assets of
HERBERT L. HULL, 186 LAKE MEADE DR, EAST BERLIN, Permsylvama
Value
Fmr Market Value
The Farr Market Value for the property m total ~s'
$4,974 00
Tins ~s not the apprmsal report The appraisal report must be read m ~ts entirety.
Page 3 of 10
Analysis
Analysis
The analys~s on al! the items were based on the references and processes hsted below;
M & S Cycle Shop, Chambersburg, Pa
Edmunds Auto Guide
Cheaper Than DLrt Hunting Catalog (Wholesale)
Gander Mountmn Outdoors, Chambersburg, Pa
John Deer, Chambersburg, Pa
Previous Auctions
Market Value
Condition
Page 4 of 10
Conditions of Appraisal
The value stated ~n tins Apprmsal Report is based on the best judgment of the apprmser given the
facts and con&tmns avmlable at the date of the valuation
The use of the report ~s hrmted to the purpose of determimng the value ofpersonaI property, for
Estate Tax purposes.
Any add~tlonal research or testimony reqmred by the client or the court uall be billed at the
current rates.
Disclosure of the contents of the report is governed by the Standards and Practices of the
Certified Apprmsers Gmld of America
Certification of Report
Neither Barry K. Tolby, EMERALD AUCTION AND APPRAISAL SERVICE nor any of its
employees have any present or future interest m the subject property No proinbited fee was
assessed for tins report.
Barry K Tolby of EMERALD AUCTION AND APPRAISAL SERVICE has successfully
completed the personal prope~rty apprmser certification program with the Cemfied Apprmsers
Guild of America and is a member in good standing Tins report was prepared in accordance
w~th the Uniform Standards of Professional Appraisal Pmctlce and wuth the Standards and
Practices of the Certified Appraisers Guild of America winch has review authority of this report
Barry K Tolby has personally examined the subject property The statements of fact contained
in tlus r~g~/e tree and correc_.t to the best knowledge and belief of the appraiser
By: J3arry I~olby, i~ A G.~;~?/i
EMERALI~,~UCTION A~/~PPRAISAL SERVICE
Page 5 of 10
Purpose of the Report
The purpose of tlus report is to deternnne the value for Estate Tax purposes for LAWRENCE C.
HULl_, MECHANICSBURG, Pennsylvama
Method of Valuation
The method of valuation used for th~s apprmsal is the Fair Market Value
Definition of Value
Fmr Market Value
Under the Umted States Treasury regulatmn 1 170-1c Fmr Market value is defined as.
The price at Much the property would change hands between a walling buyer and a w~lhng seller,
neither being under compulsion to buy or compulsmn to sell and both havmg reasonable
knowledge
Basis of Appraisal
Valuatmn Date
The date of valuation for determ~mng the value estimation ,s July 28, 2002.
Date Appraisal Conducted
This apprmsal was conducted on July 28, 2002
Lmutatmns of Property
There were no limitations on use or disposition oft/ns properly
Description
An ~tem~zed list wath descriptions ~s m Appendix A
Page 6 of 10
Barry K. Tolby, AUCTIONEER/APPRAISER
EMERALD AUCTION AND APPRAISAL SERVICE
15 SYCAMORE CIRCLE
ETTERS, Permsylvama 17319
(717) 938-3306
Education & Special Trainin~
I am a graduate of Hamsburg Area Cornmumty College School of Auct~oneering. I have been an
auctioneer for I 1 years
I am a graduate of the CAGA and am a certffied Personal Property Apprmser
Professional Membership
I am a member m good standing wath the Cemfied Apprmsers Gmld of America.
I am a hcensed Auctioneer m good standing for the State of Pennsylvama
Professional Designation
I am a hcensed Auctioneer m the State of Pennsylvama
I am a Certified Personal Property Apprmser
Page 7 of 10
Fatr Market Value
Appendix A
FURNITURE AND HOUSEHOLD
10 00
0.00
50 00
40 00
I50 00
50 00
50 00
50 00
25 00
30 00
10 00
2 00
1 00
5 00
15 00
1 00
20 00
1 00
10 00
10 00
1 00
1 00
3 00
1 00
2.00
15 00
10 00
1 00
20 00
30 00
10 00
5 00
10 00
20 00
15 00
10 00
5.00
15 00
WOOD DESK
GREEN CHAIR AND OTTOMAN
OAK DROP LEAF TABLE
8 OAK CHAIRS (8 of $5 00ea)
YOUNG HINKLE BOOK CASES (3 of $50 00ea)
YOUNG HINKLE DRESSER AND NIGHT STAND
'YOUNG HINKLE CHEST OF DRAWERS, NIGHT STAND
YOUNG HINKLE OAK TABLES (2 of $25 00ea)
TELEPHONE DESK AND SEAT
3 DRESSERS (3 of$10 00ea)
NIGHT STANDS (2 of $5 00ea)
SMALL CORNER CAB1NET
BEIGE LOVE SEAT
7 PIECE BLUE SECTIONAL COUCH
OAK STOOLS (3 of $5 00ea)
FLOWER PATTERN CHAIR
YOUNG HINKLE COFFEE TABLE
COLONIAL STYLE CHAIR
2 SHELF BOOK CASE
BRASS CURIO
ORANGE DESK CHAIR
YELLOW AND ALUMINUM LOUNGE CHAIR
WOODEN FLOOR LAMP
METAL POLE LAMP
FLOOR LAMP
BRASS LAMPS (3 of $5 00ea)
COFFEE TABLE AND END TABLE
2 BROWN CLOTH CHAIRS
SMALL CHEST OF DRAWERS
WOODEN AND GLASS BOOK CASES (2 of $15 00ea)
GREEN OIL LAMP
ASSORTED TABLE LAMPS
LEATHER LOUNGE CHAIR AND OTTOMAN
KERO LAMPS (2 of$10 00ea)
WOODEN AND METAL DRAFTING TABLE AND STOOL
WOODEN MAGAZ1NE TABLE WITH LAMP
WALL MIRROR
4 EITHAN ALLEN WOODEN SNACK TABLES
COLLECTABLES
Page 8 of 10
3O 00
20 00
200 00
20 00
20 00
500 00
2 BRASS TEA POTS WITH PORCELIN HANDLES (2 of $15 00ea)
LARGE BRASS TEA KETTLE
2 SETS OF STERLING SILVER CANDLE HOLDERS (3 CANDLE STYLE)
(2 of $100.00ea)
NATIONAL WASHBOARD CO, GLASS CLOTHING WASHBOARD
SET OF 4 ADVERTISING KITCHEN CANISTERS
PACIFIC PRINCESS CAST IRON KtTCFIEN WOOD STOVE.
HAND AND POWER TOOLS -- HARDWARE
250 00
20 00
15.00
10 00
10 00
20.00
10 00
10 00
10 00
50 00
15 00
50 00
26.00
20 00
5 00
1 00
5 00
50 00
10 00
50 00
DAYTON TRADESMAN 20" DRILL PRESS (FLOOR MODEL)
CRAFTSMAN BENCH GRINDER
CRAFTSMAN BENCH VICE
TRUE TEMPER DOUBLE BLADED AX
3 5 HP COMPRESSOR NEW IN BOX
RADIO FLYER CONTRACTOR WHEEL BAR_ROW
6' METAL STEP LADDER
SET OF PRIMITATIVE SAW HORSES
4 HP COMPRESSOR NEW IN BOX
24' ALUMINUM EXTENTION LADDER
METAL STOOLS (3 o£$5 00ea)
6' METAL AND WOOD WORK BENCH
13 METAL FOLDING CHAIRS (13 of $2.00ea)
6' METAL FOLDING TABLES (2 of $10 00ea)
METAL SHELF UNIT
SMALL METAL STEP STOOL
2 METAL STORAGE CAB1]qETS
NEW CORONA KERO HEATER STILL IN BOX
WEBER GAS GRILL IN BAD SHAPE
ASSORTED TOOLS TO INCLUDE; SAWS, WRENCHES, SCREW
DRIVERS, HAMMERS, ETC
ELECTRONICS
5 00
5 00
20 00
20 00
50 00
10.00
100 00
2 VERY LARGE FLOOR SPEAKERS
3M 610 COPIER, AND CB RADIO
GE 19" COLOR PORTABLE TV
RCA 17' COLOR TRACK PORTABLE TV
XENITH 21" COLOR CONSOLE TV
ZENITH 4 HD VCR
BALDWIN ORGAN WITH SEAT
MISC.
5.00 ASSORTED CHRISTMAS ITEMS
15 00 3 FLOOR PLANTS (3 of $5 00ea)
5.00 METAL FILING CABINETL
5.00 SEVERAL BOXES OF BOOKS
10 00 5 HANGING BASI<LETS WITH PLASTIC FLOWERS (5 of $2 00ea)
5 00 EBCO DEHUMIDIFIER
5 00 PET CARRIER
Page 9 of I 0
15 00 PLASTIC AND WOOD DUCK DECOYS
10 00 RECORD ALBUMS
5 00 ASSORTED WALL PICTLrR.ES
10 00 DIRT DEVIL ULTRA MVP SWEEPER
1000 AFGANS
20 00 2 BRASS MENS VALETS (2 orS10 00ea)
35 00 MANS CHARACATURE VALET
10 00 KENT FLOOR POLISHER
50 00 8' POOL TABLE WITH BALLS, RACK, TABLE COVER, AND BRUSH
BRIC-O-BRAC
50 00 ASSORTED SMALLS TO INCLUDE, SMALL WOODEN STATUE, FLOW
BLUE PORTUGAL VASE, SWISS COLONY FLOW BLUE COFFEE
GRINDER, WASH BOWL/JUG, ASSORTED WALL HANGINGS, MASONS
FLOWER PLATE, ETC
KITCHEN ITEMS
15 00 GE MICROWAVE
OUTDOOR FURNITURE
15.00 WROUGHT IRON AND WHITE OVAL TABLE AND 4 CHAIRS
10.00 BLACK AND WHITE LOVE SEAT, 2 CHAIRS, AND ONE SMALL TABLE
3 00 2 LOUNGE CHAIRS
10.00 OVAL PLEXIGLASS TABLE AND 4 CHAIRS
BOATING EQUIPMENT
50 00
10.00
15 00
I0 00
20.00
5 00
10 00
10 00
75 00
10 00
150 00
150 00
EVINRUDE 7 5 HP OUTBOARD MOTOR
3 SETS OF OARS
ONE PAIR WATER SKIS (ACAPULCO) AND ONE SKI (EL DIABLO)
9 FLOTATION CUSIONS IN FAIR CONDITIlON
3 LIFE VESTS
4 LOUNGE CHAIRS
OCEAN FISHING POLE
TACKEL BOX AND LURES
REFULING GAS CAN FOR OUTBOARD MOTORS
PICNIC TABLE AND ONE BENCH
AEROCRAFT CANOE
GRUMAN FLAT BOTTOM FISHING BOAT
OUTDOOR FURNITURE
0 00 2 METAL UMBRELLA TABLES, 3 SMALL TABLES, AND 3 CHAIRS IN
VERY BAD SHAPE AND HAVE NO VALUE
EXERCISE EQUIPMENT
1.800 00 UNIVERSAL MULTI-STATION EXERCISE UNIT
4,974 00 Total
Page 10 of 10
0~/i~ 7/20~2
16.41 717-7~1-50~8
SCOTT M DINNER.
PAGE 81
September 1G, 2002
Scott M Dinner, Esquire
~ll7 Chestnut S~
Camp H~ll, PA 17011
RE:
Estate of: Herber~ L Mull
Social Security ~- 399-01-6335
Date of Death: October 29, 2001
Dear Sir/Madam:
In reference to the letter regarding the above mentioned
Estate, we would ilks to inform you of the information that
we have researched and found.
Type: Checking
Account # 5%2001140
Date Opened 6/4/85
Date Closed 7/3/02
Primary Owner. Eerbert L Hull
Date of Death Balance. $39,750 81
If there are any questions or addl~%onal information that
is needed, please feel free to contact me at (717) 795-7118
Sincerely,
Wanda J Morris
CIF A~soc~a~e
C R I , Inc
The CRI Butldlng
112,00 Rockvllle Pike
Rcckvllle, Maryland 20852
Telephone (301) 468-9200
Fax (301) 231-0396
July 25, 2002
Charles F Sulhvan
1513 Cedar ChffDnve
Camp Hill, PA 17011
Herbert L Hull
Capital Realty Investors-IV
Dear Mr Sullivan
We are tn receipt of your letter requesting ~nformatlon about the above-mentioned
partnerslup ~nterest According to our records, Mr Hull own 10 000 umts of Capital
Realty Investors-IV This account was held individually
We are aware that m the event of the death of the owner ofa hn~ted parmershtp interest, the
estanated value of a lnmted partnerslmp interest as of the date of death (or as of the
altematave valuation date provided for ~n the federal estate tax law) ~s ~ncludable m the
estate of the owner for federal estate tax purposes However, we can not g~ve a current
value for these umts In the current market place, there are two typical methods of
calculating value One method is ta base tt on pnor sales of partnersl~p interests between a
unlllng buyer and seller Another method of estmaatmg the market value of a parmersh~p
interest ~s to apprmse the underlying properties While property apprmsals may be useful in
determining value, due to the expensive nature of such apprmsals, varying econormc
concht~ons, and frequent changes in the local sub-markets, no current formal or informal
apprmsals are prepared for the properties represented by th~s investment Recently we have
seen sales of these amts range from $15 to $33 a umt On October 29~ 2001~ CRI-4 was
selling on the secondarg market for $33.00 per t~ni~. You may request a hst of some
secondary market numbers ~f you have further mqarnes CRI does not use secondary
market pnces for valuation
If you have any questtons, please feel free to contact me at (301) 231-0214
Sincerely,
Fehma Lane
Investment ComxnumcaUons
A Real Estate FInancml Se~/tces Company
Serving Int,~stors Wodd Wide
ML Media Partners, L.P,
4 World Financial Center
New York, NY 10080
September 6, 2001
Re' Partnership's Response to Recent Tender Offer
Dear Partner:
By letters dated May 1t, 2001 and March 19, 2001 (together, the "Prewous Response Letters"), ML
Media Partners, L P (the "Partnership") described ]ts posttlon regarding three unsohctted tender offers
for the Parmersh]p's un]ts of hm]ted partnership interest ("Un]ts") made ]n 2001 The three previous
offers were made by Peachtree Partners (the "Peachtree OfferT), First Commercial Guarantee (the
"First Commercial Offer") and Odd Lot Liquidity Fund, LLC (the "Odd Lot Offer") (collectively, the
"Previous Tender Offers")
The Partnership has become a~vare o£.~nd has reviewed another similar unsohc]ted tender offer from
Everest Cable Investors, LLC ("Everest", the "Everest Offer") The Partnership ]s providing this letter
to describe ]ts pos]non regarding the Everest Offer
Everest Offer
According to the Everest Offer, dated August 16, 2001, Everest ]s offenng to purchase up to 1 0% of
the outstanding Un]ts at a purchase price of S700 per Unit (minus a S50 transfer fee and minus any
cash d]smbut~ons made to you by the Parmersh]p after June 30, 2001)
In response to the Everest Offer, the Partnersh]p's position is as follows
Although there are substantial uncertainties regarding the timing of the sale of the Parmersh]p's
remaining media properties (consisting of ]ts Interest ]n the Puerto R~co cable systems), and the
amount of proceeds the ParmersNp will receive ]n connect]on with such sale, the Partnership
believes that the Units have substantml value, and therefore has concluded that the Everest
Offer is inadequate and not in the best interests of the Limited Partners Accordingly, consistent
with the reasons stated in the Previous Response Letters regarding the Previous Tender Offers, and m
consideration of those factors referenced ]n the Previous Response Letters which the Parmersh]p has
reviewed ]n connection v~lth the Everest Offer, the Partnership recommends that L~mited Partners
reject the Everest Offer and not tender any of their Units. However, those Limited Parmers who
have an ~mmedmte need for hqu]dtty or who conclude that the risks of continuing to hold Umts are
s]gmficant and outwmgh the potential benefits of continuing to hold Untts, may wish to consider the
Everest Offer
Neither the Partnership, the Partnersh]p's general parmer, Media Management Partners (the "General
Partner"), Memll Lynch & Co, Inc, ML Leasing Management, Inc, nor any of thmr respecnve
affihates or subsidiaries are parties to the Everest Offer or the Previous Tender Offers Furthermore,
netther the General Partner, nor any of ]ts officers, d~rectors or affihates intends to tender any of ]ts or
their Umts pursuant to the Everest Offer
In addition, there may be additional or competing tender offers that are submitted to L~m]ted Parmers
from time to t~me The Partnership urges you to review this letter together w~th the
Partnershlp's Previous Response Letters and the Partnership's financial statements for the
periods ending June 30, 2000, and September 29, 2000 (the "Financial Statements"), svhich were
sent to you on August 16, 2001, and provided you with an update about Partnership events
through the beginning of August 2001, as well as other reports and commumcatlons provided to
you by the Partnership, before making a decision whether or not to tender your Umts.
Basis for Recommendation
In arriving at its recommendation, the Parmership reviewed the Everest Offer and considered many
factors, including the business, financial condition and prospects of the Partnership and the potential
value of its remaining assets The Partnership believes that all Limited Partners should carefully
consider these and all other relevant facts and circumstances, including their own personal tax
slruanon, liquidity needs and other financial considerations, and should review all available
information before making a decision whether or not to tender their Units Depending on, among
other things, each Limited Partner's (a) conslderatmn of such factors, (b) assessment of the Everest
Offer and the relevant facts, and (c) willingness to accept the uncertainty regarding the amount of
proceeds that the Parmersh~p wllI actually realize from the sale of the Puerto Rico cable systems, and
the t~mmg of the sale and of the distribution of such proceeds, certain Limited Partners may determine
that it ~s appropriate to tender their U,~mts m the Everest Offer
Factors that have been considered by the Partnership in making ~ts recommendation include the
following
Sale of Remaining Media Properties The sole remaining operating investment in media
propertms held by the Parmership is ~ts 50% interest ~n the joint venture that owns C-ML Cable,
xxh~ch owns and operates txvo cable television systems in Puerto Rmo C-ML Cable is held by a
50-50 joint venture of the Partnership and subsidiaries of Adelph~a Communlcatmns Corporation
("Adelphia") As pre'~lously described to you ~n the Financial Statements, the Parmershlp is
proceeding ~vlth its efforts to sell C-ML Cable and will be reporting the results to you as
developments xvarrant Please note that there is no assurance that such sate will be consummated
and the Partnership is not able to estimate when or at what price a sale will take place Lumted
Pat mers who tender their Urals to Everest wdl not receive any economic benefit fi otn the sale of
the Puerto R~co cable systems, ~f and when consttmmated by the Partnershzp, to the extent such
value is not reflected m the Everest Offer p~ ~ce
The General Partner believes that the Valu~ of the Partnership's Remaining Assets
Significantly Exceeds the Value Reflected in the Everest Offer. As previously communicated
to you by the General Parmer in the Parmersh~p's Interim Report sent to you on November 20,
2000, the GeneraI Partner has not updated the net asset value ("NAV") of the Partnership since
September 24, 1999 (at which t~me the NAV was estimated at $925 per Unit) but did not include
any litigation costs subsequently accrued or to be accrued The September 1999 NAV reflected
the estimated value of the Parmershlp's 50% interest m C-ML Cable, as well as its cash holdings,
~ts other assets and hablhtms, and the estimated fees and expenses to be incurred in connectmn
with the Partnersinp's remaining operations and the winding up of the Parmershlp, all as estimated
at such time Subsequent to the September 1999 NAV estimation, the Parmershlp distributed an
aggregate cash distribution of $73 80 per Unit made on June 21, 2000 (the "2000 Dlsrnbutlon")
and May 29, 2001 (the "2001 Distribution")
Although the General Partner continues to believe that the sale of the Parmership's 50% interest in
C-ML Cable will result in substantial proceeds to the Partnership, as a result of the significant
uncertmntles that remain regarding (a) the Parmershlp's ability to sell its interest in C-ML Cable
on acceptable terms, Co) the timing of such sale, and (c) other factors which may have a material
2
~mpact upon the ultimate value of the ParmersNp, the Parmershlp cannot reasonably esttmate an
updated NAV at tNs time
Nevertheless, the Partnership believes that the value of the Units significantly exceeds the price
offered by Everest and exceeds the September 1999 NAV of $925 per Unit referred to above after
reduction of the 2000 Dlstnbutmn and 2001 Dmtnbutlon
· Status of Dtlgat~on w~th Adelphia As previously disclosed, zn 2000, the Parmershlp
commenced suit against Adelphm and related entities ~n an effort to ~mplement zts rights to compel
a sale of C-ML Cable Court actions to date have largely upheld the posmons taken by the
Partnership Details on the Adelphla litigation can be found m the Financial Statements On
September 4, 200I, the Partnership filed ~ts appeal to the Appellate D~wslon, First Department,
State of New York, w~th respect to that pomon of the referee's report which &d not find m the
ParmersNp's favor
· Conclusion of Class Action L~tigation. As previously reported in the Financial Statements, the
Supreme Court denied the plaintiffs' request for leave to file a new complaint Plaintiffs' t~me to
appeal that dec~mon has now expired Since no appeal has been filed, the action ~s now concluded
· Pre'~lous Tender Offers. The Previous Tender Offers that have come to the Partnershlp's
attennon and have been reviewed b~'the Parmershlp in 2001 have included the (a) Peachtree Offer
dated March 7, 2001, at $725 per Unit less cash distributions after March 7, 2001 (net tender
proceeds of $659 per Unit after adjusting for the 2001 D~smbunon), (b) First Commercial Offer
dated tX'larch 9, 2001, at S461 per Umt less cash &stnbunons afier May 29, 2001 (net tender
proceeds of $395 per Umt after adjusting for the 2001 Distribution), and (c) Odd Lot Offer dated
March 12 2001, at $725 per Unit less cash d~stTlbunons after March 12, 2001 (net tender proceeds
of S659 per Umt after adjusting for the 2001 Distnbutmn) Please note that, to the knovdedge of
the Partnership, ail PreMous Tender Offers have expired
· No Established Trading Market. Limited parmersh~p interests are generally flhqmd and there m
no established trading market for the Units to provide estabhshed market valuations for the Units
against ,.vh~ch to compare the purchase price m the Everest Offer Sales recorded by the
Partnership from January 2001 through September 2001 have ranged from $461 to $l 044 per
Unit (with the exception of one sale for five Units at $79 per Umt), including Umts transferred
pursuant to Previous Tender Offers The weighted average price dunng tNs period was $708 per
Unit
Llmitat~ons on Recogmt~on of Transfers in any Tax Year, Uncertainty as to Timing of
Payment for Umts Tendered. As you know, it has been and is the ParmersNp's pracnce to bm~t
transfers within any tax year of the ParmersNp to no more than 4 8% of outstanding Umts m order
to stay within certain safe harbor tax provisions, so that the ParmersNp zs not classified as a
"publicly traded partnership" As of September 2001, 4 28% of outstanding Units have
transferred ~n the Parmership's 2001 tax year Thus, notwithstanding that Everest seeks to secure
up to 1 0% of the outstanding Units, the actual number of Units tendered pursuant to the Everest
Offer that will be recognized for transfer by the Parmershlp m the 2001 tax year, after taking ~nto
account the numbers of other transfers previously recognized for such tax year, will be
mgmficantly fewer than the amount sought Please note that ~f transfers of the Parmershlp's Umts
reach the 4 8% annual limit m 200I, no further sales will be recognized by the Parmersh~p ~n
2001, except for certain transfers that may be designated as excluded transfers under the tax law
In such event, all transfer documents relating to unrecognized transfers will be rejected by the
Partnership and returned to the transferee, in the case of the Everest Offer, these documents will
be sent to Everest
Based on the terms of the Everest Offer, a L~m]ted Partner ~vho tenders ]ts Units will not be paid
until Everest has received confirmation from the Parmersh]p that a vahd transfer has taken place,
the next effective transfer date is October 1, 2001 In ad&non, Everest's Offer states that all
Limited Partners' tender of Un]ts will be irrevocable and may not be rescinded or withdrawn
Accordingly, ]t]s uncertain (a) when the transfer of Umts tendered pursuant to the Everest Offer
wall actually be recogmzed by the Parmersh]p, (b) the status of any such unrecogmzed Everest
Offer transactions, and (c) when Limited Partners who tender their Umts to Everest will actually
be paid
Each Limited Partner must make his, her, or its own decision whether to accept or reject the Everest
Offer Llmlted Partners are urged to carefully re¥]ew all of the reformation contained m the Everest
Offer, as ,,,,el1 as the Parmersh]p's pubhcly available annual, quarterly and other reports, and the
Parmersinp's other commumcat~ons with Limited Partners (including the Previous Response Letters
and the Fmancml Statements), and any competing tender offers that they have received or may receive
The Parmersh]p urges Limited Partners to cons]der carefully all such reformation, and to cons]der their
own personal situation and consult with their own tax, financial or other advisors in evaluating the
terms of the Everest Offer before demdmg to tender Umts The Parmershlp has not engaged any
financial advisor to evaluate the terms of the Everest Offer, to determine whether the Everest Offer ~s
far to Limited Partners, or to determine the value of the Umts
Forward Looking Information
Certmn statements ]n the preceding discuss]on constitute "for~vard looking statements" x~]th~n the
meamng of the Private Securities Litigation Reform Act of 1995 The Parmersh~p notes that a variety
of factors, many of which are beyond ]ts control, affect media properly values, marketablhry and the
Partnersh]p's ,,alue, business prospects, and results, and could cause actual results and experience to
differ matermlly from the expectations and est]mates expressed hereto These factors Include but are
not hm]ted to, the effect of changing economic and market conditions, generally, and particularly with
respect to medm businesses, generally, or ]n specific local markets where the Pan'nershlp's media
propertms are located, or on spec]ftc trends ~n business and finance and ]n investor sentiment, the level
of volat]hty of interest rates, the actions undertaken by both current and potential or new competitors,
the impact of and inherent uncertainties ]n current, pending and future legislation, regulation, and
lmgatlon, and the other risks and uncertainties described here~n The Partnership undertakes no
respons]b]hty to update or rev]se any forward-loolong statements
Toll-Free Information for Investors
Please do not hesitate to call our Investor Services Information Center at (800) 288-3694 for ass]stance
]n any Parmersh]p matter Our Investor Services Information Center operates Monday through Friday,
from 10 00 a m to 1 00 p m and from2 00p m to 5 00p m Eastern time
Sincerely yours,
ML MEDIA PARTNERS, L P
I Martin Pompadur
For the General Parmer
4
,WINAKE LODGE
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF
FILE NUMBER
HULL, HERBERT L.
If an asset was made Joint within one year of the decedent's date of death, It must be reported o~1 Schedule G
(~2 00515
SURVIVING JOINT TENANT(S) NAME
ADDRESS
RELATIONSHIP TO DECEDENT
JOINTLY-OWNED PROPERTY
LETTER DATE 0ESCRIPTION OF PROPERTY % OF DATE OF DEATH
ITEM FOR JOIN1 MADE Incbde name of financial ms'utubon and bank account numba- or anubr ;de~byng number Anach DATE OF DEATH DECO'S VALUE OF
NUMBER TENANT JOINT deed for jo,nl¥ held real estate VALUE OF ASSET INTEREST DECEDENT'S INTERE.
1 3 4/15/99 BANGOR AREA PA SCH DIST G/O BOND 1999 35,000 00 50 17,500 0(
2 3 4/15/99 DANVILLE PA MUNICIPAL AUTH WATER REV 20,000 00 50 10,000 0(
BONDS 1999
3 1 4/15/99 RIDLEY PA SCHOOL DISTRICT G/O BONDS 1999 50,000 00 50 25,000 0(
4 2 7/12/99 MERCER PA AREA SCHOOL DISTRICT GlO BONDS 50,000 00 50 25,000 0(
1998
TOTAL (Also enter on line 6, Recapitulation) $ 77,500 0(
(If more space is needed, ~nsert add~honal sheets of the same size)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE G
INTER.VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
ESTATE OF FILE NUMBER
J-J~LL. HERBERT L. 21 02 00~1~
This schedule must be completed and filed ~f the answer to any of questions 1 ~hrough 4 on the reverse s~de of the REV-1500 COVER SHEET ~s yes
DESCRIPTION OF PROPERTY % OF
ITEM ~NCLU~ET~NAMEOFTHETRANff;FEAEE THE~RREL~TIONSHPTO DECEDENTANDT~EDATEOFTP~MISFER DATE OF DEATH DECD'S EXCLUSION TAXABLE VALUI
NUMBER ATTACH A COPY OF T~E DEED FOR REN- ESTATE VALUE OF ASSET INTEREST
1 TRANSFERS MADE WITHIN ONE YEAR OF DATE OF 392,208 0C 100 12,000 0{~ 380,208
DEATH TO THE RESIDUARY BENEFICIARIES
2 TRANSFERS MADE WITHIN ONE YEAR OF DATE OF 16,100 0(: 100 4,600 0C 11,500
DEATH TO MARGARET R DESTEFANO
3 TRANSFERS MADE WITHIN ONE YEAR OF DATE OF 7,200 0(: 100 3,800 0C 3,400
DEATH TO NAOMI STAHLNECKER
4 TRANSFER MADE WITHIN ONE YEAR OF DATE OF 10,000 0£ 100 3,000 0C 7,000
DEATH TO LORRAINE T HULL
5 TRANSFER MADE WITHIN ONE YEAR OF DATE OF 10,000 00 100 3,000 0C 7,000
DEATH TO CHERYL PARKER
6 TRANSFER MADE WITHIN ONE YEAR OF DATE OF 10,000 00 100 3,000 0C 7,000
DEATH TO DAVE BREIGHNER
7 TRANSFER MADE WITHIN ONE YEAR OF DATE OF 10,000 0£ 100 3,000 0C 7,000
DEATH TO DANNY REISMAN
8 TRANSFER MADE WITHIN ONE YEAR OF DATE OF 10,000 0£ 100 3,000 0C 7,000
DEATH TO LISA JEWETT
TOTAL (Also enter or, hne 7, Recapitulation)
(If more space is needed insert add[l]onal sheets of the same size)
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
HULL, HERBERT L '~' 21 02
Pa,qe 2
Schedule H - Funeral Expenses & Admimstrahve Costs - BT.
00515
ITEM
NUMBER DESCRIPTION AMOUNT
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
UNITED REFRIGERATION - GAUGES & HOSES AJC - HOME
DEPARTMENT OF HEALTH - DEATH CERTS
EMERALD AUCTION & APPRAISAL - APPRAISAL OF PERSONAL PROPERTY
THE PATRIOT NEWS CO - LEGAL ADVERTISING
VITAL RECORDS - DEATH CERTS
REGISTER OF WILLS - SHORT CERTS
COMMONWEALTH OF PA - AUTO REG
JOHNS HOPKINS UNIV HOSP - MEDICAL EXP
CUMBERLAND LAW JOURNAL- LEGAL ADVERTISING
SCOTT M DINNER ESQ - MISCELLANEOUS EXPENSES
TRAVELERS INS - AUTO INS
MARK HECKMAN, APPRAISER - APPRAISAL OF LAKE MEADE
MARK HECKMAN, APPRAISER - APPRAISAL OF 304 APRIL DR
MISCELLANEOUS EXPENSES, 2820 FAIRVIEW RD
JERRY GRAHAM - LAWN CARE 410 00
TONY MIKULA - CLEANUP & MOVING 865 00
PPL - ELECTRICITY 497 56
PAWC - WATER 57 75
UGI - GAS 47 00
AT&T & VERIZON - TELEPHONE 203 37
MISCELLANEOUS EXPENSES, LAKE MEADE
JERRY GRAHAM - LAWN CARE 65 00
JOHN R LEROW, T C - RE TAXES 2766 60
ADAMS ELECTRIC - ELECTRICITY 423 90
L M MUNI AUTH - SEWER & WATER 194 00
LM PROP OWNERS-H0 DUES&MAINT 90200
DUTY'S LOCKSMITH - SECURITY 84 27
MISCELLANEOUS EXPENSES, 304 APRIL DRIVE
100 44
150 O0
2,212 50
96 91
18 O0
30 O0
36 O0
82 05
75 O0
162 38
37O 32
375 O0
300 O0
2,080 68
4,435 77
SUBTOTAL SCHEDULE H-B7 10,525 05
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
HULL, HERBERT L "~ 21 02
Pa,qe 3
Schedule H - Funeral Expenses & Adm~mstrative Costs - B7.
00515
ITEM
NUMBER DESCRIPTION AMOUNT
28
29
JERRY GRAHAM - LAWN CARE 550 00
MICHAEL HARTZOG, T C - RE TAXES 635 45
FOREMOST INSURANCE - H O INSURANCE 530 00
BOROUGH OF CAMP HILL - SEWER 127 46
MARGARET DESTEFANO - REPAIRS 641 98
MISCELLANEOUS EXPENSES, LYCOMING COUNTY
TONY MIKULA - LAWN CARE 498 00
GENE BAUMGARD, T C - RE TAXES 650 45
TRI COUNTY REC ELECT - ELECTRICITY 344 49
AGWAY ENERGY - FUEL OIL 938 65
CTCO - TELEPHONE 60 00
KILLIAN FIREPLACE CENTER - REPAIRS 845 88
TRAVELERS INSURANCE - H O INS 1138 00
MISCELLANEOUS EXPENSES, COMMERCIAL BUILDING
MERCHANTS & BUSINESSMEN'S INS - INSURANCE 2309 00
NANCY BLAIR, TREAS - R E TAXES 14906 07
NICHOLAS EVANOFF CO - REPAIRS 209 73
2,484 89
4,475 47
17,424 80
SUBTOTAL SCHEDULE H-B7 24,385 16
COMMONWEALTH OF PENNSYLVANIA
INHERITANC~ TAX RETURN
RESIDENT DECEDENT
ESTATE OF
HULL. HERBERT L.
Include unrelmbursed medical expenses
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES~ & LIENS
FILE NUMBER
21 02 00~1~
ITEM
NUMBER DESCRIPTION AMOUNT
1
2
3
CHECKS WRI'I-rEN BY DECEDENT BUT UNCASHED AT DEATH - COMMERCE BANI4
ACCT NO 51-200114-0
WEST SHORE COUNTRY CLUB - UNPAID BILL
UNIVERSAL CREDIT CARD BALANCE
4,708 68
1,750 59
62 02
TOTAL (Also enter on hne 10, Recapitulation) $ 6,521 29
(If more space ~s needed, insert addlboeal sheets of the same size)
REV 1513 EX + ( 9~e'
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE J
BENEFICIARIES
ESTATE OF
HULl,,, H !RBERT L.
NUMBER
]
1
2
3
4
5
6
7
1[
1
1
NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS ~nclude outright spousal d~stnbutmns, and transfers under
Sec 9 6(a)( 2)]
LAWRENCE C HULL
5235 MEADOVVBROOK DR
MECHANICSBURG, PA 17050
MARCIA M HULL
8204 PHILADELPHIA RD
BALTIMORE, MD 21237
TRACEY A HULL
3095 SANDALWOOD LANE
TITUSVILLE, FL 32780
MARGARET R DESTEFANO
304 APRIL DRIVE
CAMP HILL, PA 17011
MARCIA BLOWNEY
383 FRONT STREET
OWEGO, NY 13827
RUTH LANDRUM
13410 HEDGLEY PLACE
HOUSTON, TX 77069
BETTY KLITZMAN
131 NORTH CREEK DR
NORMAN, OK 73069
FILE NUMBER
gl Og 00515
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
Do Not L~st Trustee(s) OF ESTATE
SON
DAUGHTER
SON
NONE
NONE
NONE
NONE
333% OF RESIDUARY
ESTATE
333% OF RESIDUARY
ESTATE
333% Of RESIDUARY
ESTATE ***
LIFE ESTATE
33170 + 150000
10,000
10,000
10,000
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE ON REV-1500 COVER SHEET
NON-TAXABLE DISTRIBUTIONS
A SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
B CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART I1 - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET
(If more space ~s needed, insert add~bonal sheets of the same size)
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
HULL, HERBERT L- ' 21 02 00515
Pa~e 4
Schedule J - Beneficiaries - 1
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not L~st Trustee(s/ OF ESTATE
] TAXABLE DISTRIBUTIONS (Include oub-lght spousal d~str~bu~ons)
8 MAVIS KIRCH NONE 10,000
114 SOUTH MADISON STREET
WAUNAKEE, WI 53597
9 NAOMI STAHLNECKER C/O ROSEVIEW HOME RM 307 NONE 25,000
1251 RURAL AVENUE
WILLIAMSPORT, PA 17701
*** TO BE OFFSET BY REAL ESTATE (LOCATED AT
3095 SANDALWOOD LANE, TITUSVILLE, FL)
TRANSFERRED PRIOR TO DECEDENT'S DEATH IN
PARTIAL SATISFACTION OF THIS BENEFICIARY'S 1/3
RESIDUAL SHARE
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE K
LIFE ESTATE, ANNUITY
& TERM CERTAIN
(Check Box 4 on Rev-1500 Cover SheetI
ESTATE OF FILE NUMBER
HULL. HERE}~RT L. ;~1 02 00515
Th~s schedule Is to be used for all s~ngle hfe, joint or successive hfe estate and term certain calculabons For dates of death
pnor to 5-1-89, actuanal factors for s~ngle hfe calculations can be obtained from the Department of Revenue, Specialty Tax Unit
Actuanal factors can be found In IRS Publication 1457, Actuanal Values, Alpha Volume for dates of death on or after 5-1-89
Indicate the type of ~nstrument which created the future ~nterest below and attach a copy to the tax return
[] W~II [] Intervivos Deed of Trust [] Other
LiFE ESTATE INTEREST CALCULATION
NAME(S) OF ....... N'F~R'~T'AGE AT TERM OF Y~R~ LIFE ESTATE IS
LIFE TENANT(S) DATE OF BIRTH DATE OF DEATH PAYABLE
MARGARET R DESTEFANO 11/3/1916 85 r'~Life or E]Term of Years
[-] Life or I'--ITerm of Years __
r--lLife or E]Term of Years
[] Life or [] Term of Years
Value of fund from which hfe estate ~s payable
2 Actuanal factor per appropnate table
Interest table rate- [] 31/2% [] 6%
3 Value of hfe estate (L~ne 1 multiplied by L~ne 2)
[]10% [] Varlable Rate 56 %
ANNUITY INTEREST CALCULATION
124,000 00
2675
~ 33,170 00
NAME(S) OF NEAREST AGE AT TERM OF YEARS
ANNUITANT(S) DATE OF BIRTH DATE OF DEATH ANNUITY IS PAYABLE
[-1Life or []Term of Years
[--Ibfe or r-]Term of Years
r--lLife or []Term of Years
[~]LIfe or I--'[Term of Years
Value of fund from which annuity is payable
2 Check appropnate block below and enter corresponding (number)
Frequency of payout- [] Weekly (52) [] BI-weekly (26)
[] Quarterly (4) [] Semi-annually (2) [] Annually (1)
3 Amount ofpayout per period
4 Aggregate annual payment, Line 2 multiplied by Line 3
5 Annuity Factor (see ~nstructlons)
Interesttable rate [] 3 1/2% [] 6% [] 10%
Adjustment Factor (see instructions)
6
7
[] Monthly (12)
[] Other( )
[] Variable Rate %
Value of annuity - If using 3 1/2%, 6%, 10%, or ~f vanable rate and penod payout is at end of penod,
calculation is Line 4 x Line 5 x Line 6
If using variable rate and period payout ts at beginning of peaod, calculation ~s (L~ne 4 x Line 5 x Line 6) + Line 3
NOTE, The values of the funds which create the above future Interests must be reported as part of the estate assets on
Schedules A through G of th~s tax return The resulting life or annuity interest(s) should be reported at the appropriate tax rate on
Lines 13~ 15~ 16 and 17
(If more space IS needed, insert additional sheets of the same s~ze)
LAST WILL .~_ND TEST~E-NT
OF
HERBERT L. HULL
I, HERBERT L. HULL, now of 2820 Falrvmew Road, Camp Hi!!~
Pennsylvania, be!rig of sound and disposing m!nd, memory and
understandmng, do hereby make, pub!zsh and declare thls to be my
Last Will and Testament, hereby revokmng all other wll!s and
Codlczis prevzously made by me.
iTEM I: I dzrect that payment of all my ]us~ debts,
expenses of my last illness, funeral expenses, and the costs of
a~minms~erlng my estate from my estate as soon after my death as
convenzencly ma% be done.
ITEM II: I gave and bequeath the sum of $10,000.00 to
each of the fol!owmng persons then !mvzng, namely, Marcia Blowney,
now of 383 Front Street, Owego, NY; Ruth Landrum~ now of 13410
Hedgley Place, Houston, Texas; Betty Klmczman, now of 131 Notch
Creek Dr!ye, Norman~ Oklahoma and Mavzs Klrch, now of !!~ South
MadLson Street, Waunakee, Wisconsmn.
iTEM III: I give, devise and bequeath to Margare~ R.
DeStefano~ now of 304 April Drive, Camp Hill, Pennsylvania, a life
estate durzng ne term of her natural !mfe mn my house and lo~ ac
304 Aprl! Drive, Camp Hmll, Pennsyivan!a so long as she occupmes it
!
as her prmncmpe! resmdence. In the event 304 Aprml Drmve, Camp
Hm!t, Pennsylvania is not occupied by Margaret R. DeStefano as her
principal residence then her life estate in said house and lot
~ermmnates and becomes null and void.
ZTEM IV: I give, devise and bequeath in ~rust to
Lawrence C. Hull, Tracy A. Hull and Marcia M. Hul!~ my three
children, as Trustees, the sum of $175,000.00 for the following
purposes, with the said Trustees to have the right to hire the
services of an attorney for legal advice:
A. S25,000.00 to be set aside and placed in a certificate of
deposit or savings account with any lending institution chosen
by my Trustees to be paid to NAOMI STkqLNECKER, now of Room
307, Rosevlew Home, 1251 Rural Avenue, W!l!!amspor~,
Pennsylvania, in monuh!y payments of $1000.00 each for as long
as she lives or until the funds including income are
exhausted, provided nevertheless mf she is nou then !lying or
dies before the funds are distributed then all or the residue
if any of ~hese moneys to go equally to my above named three
children.
B. $50,000.00 to be placed mn a certificate of deposmt or
savmngs account with any lending institution chosen by my
Trustees to be used for the general repairs and maintenance,
taxes, insurance and replacement of appliances for 304 April
Dr!ve~ Camp Hill, Pennsylvanla~ so long as it is occupied as
uhe principal resmdence of Margaret R. DeSuefano, and to pay
not uhen !!vlng or thereafter d!es then all or res!due if any
of these moneys shall go to my above three named children.
C. $!00,000.00 shall be placed_ in a certificate of deDos~+_ __ or
sav!ngs account with any lending inst!tut!on chosen by my sa~d
Trustees with $20,000.00 to be paid to Margaret R. DeStefano
wlthln nmne (9) months from the date of my death and
$20,000.00 annually thereafter on same date each year as date
__r_t payment untz! the moneys and ~ncome are consumed
provided nevertheless that mn the event Margaret R. DeStefano
ls not ~hen living or d!es before all the funds are
dlstrlbuted all or uhe rema!nlng moneys if any shall be paid
equally to my above three named children.
ITEM V: I give, dev!se and bequeath all of the rest,
resldue and remainder of my estate, of every_ nature and wherever
s!tuate, together wmth all lnsurance po!mcles thereon, into three
equal shares wmth one share uo go to Lawrence C. Hull, my son, with
one share to go to Marcma M. Hull~ my daughter w!th the remainlng
one share uo go to Lawrence C. Hull and Marcia M. Hull, my
cnl!dren, in trust for Tracy A. Hall, my son, which share shall
!nc!ude my house and lot on wh!ch it !s erected and an ad]o!nmng
lot sltuate and known as 3095 Sandalwood Lane, Titusvllle, Florida
with value thereof to be charged to thms share at value fmxed by an
MIA appra!sa! for purposes and as hereinafter set forth, with samd
3
Lawrence C. Hull and Marcla M. Hull hav!ng the right to elect mn
wrztlng wmthln 90 days of the date of my death to take mn kind the
following listed real estate and nave deducted from hms or her
respectmve share the value of each as appraised value thereof as
dete_~mzned and fmxed by an MIA appraiser and personal properuy as
appramsed by an auct!oneer, to w!t:
A. Lawrence C. Hull, my property on Hmghway 284, Jackson
Townsh!p, Lycommng County, Pennsylvanma, near Buttonwood,
Pennsy!vanma, and all household furnmshmngs, applzances, equmpment
and tools as appramsed by a local !mcensed auctmoneer;
B. Marcia M. Hull, my house and lot smtuate and known as
2820 Famrvmew Road, Camp Hill, Cumberland County, Penn_y_van_-
and/or my house and lot at 186 Lake Meade Drmve, Lake Meade, East
Berlmn, Adams County, Pennsylvanma.
C. The one share gomng to Lawrence C. Hull and Marcia M. Hull
as Trustees mn trust for Tracy A. Hull shall be for a permod of
four years from the date of my death wmth rmght mn Tracy A. Hull to
!!ye mn house and occupy ad]omning lot known as 3095 Sandalwood
Lane, T!uusvz!!e, Flormda and wmth Trustees to pay $3000.00 a month
to Tracy A. Hull and at the end of four years to convey and
transfer the corpus and accrued mncome to Tracy A. Hull. In the
event Tracy A. Hull ms not then !!ving or dmes durmng said four
years then thms share to go to sa!d Lawrence C. Hull and Marcia M.
Hull ~n trust or remamn in trus~ w~th samd Lawrence C. Hull and
Marcma M. Hull mn trust equally for Garretu Herbert Hull, born
October 7, 1992, and Morgan Elmzabeth Hull, born September 5, !99S,
being children of said Tracy A. Hull, until each respectzve!y
attains twenty-five years of age at which tmme one-half share of
corpus and accrued mncome of trust to go to hmm or her. in the
event either of them would die then hms or her skare to go ~o the
survivor of them.
The income and the corpus of the Trust for Garrett Herbert
Hull and Morgan Elizabeth Hull to go for themr care, mamntenance,
education, occupational tralnlng and to enhance any personal skills
or interest mn the musical fme!d or any other field and their
welfare to the extent o~her income !s insufficient. My samd
Trustees shall give the highest regard and credibility ~o the adult
person with whom said persons reside and upon request or demand of
such adult person for payment or remmbursement for present or
future expenses that involve the samd items for the good and
welfare of my beneficiaries, said Trustees are authorized to pay
such requests or demands for present and future expenses wmthout
any further !nvest!gatmon or order of court and without any further
liability or responsmbm!icy for the application of such monies
paid.
Whenever each benef!cmary attamns the age of twenty-five (_3)
years, then his or her share of Trust shall pay over to him or her.
If either beneflciaz~_; dies before attaining age twenty-five (25),
hms or her share shall go to surv!vor.
ITEM VI: In the event any of my children predeceases me
5
or d!es w!th!n ninety
to go equally to his
(90) days of my death, then hms or her share
or her children nhen !!v!ng, per st!rpes and
no5 per capita, otherwlse to my surviving children.
iTEM VII: ! direct ~hat any and al! taxes that may be
assessed in consequence of my death, including all inheritance,
estate and transfer taxes imposed upon my estate passing under my
will or other~mse, shall be paid out of ~he prmnclpa! of my
residuary estate as a par~ of the expense of the aclminmstratmon of
my esta%e.
ITEM VIII: I authorize and empower my personal
representative and Trustees to compromise, ad]us~, release and
discharge in such manner as my personal representative may deem
proper, all debts and claims owed by or'to me or my Estate7 5o
sell, lease or exchange at public or private sale or in such
manner, at such prices, and upon such terms of credit or otherwise,
as my personal representative may deem proper, all or any pa_~t of
my property, real or personal; to execute, acknowledge and deliver
instruments of conveyance, including deeds in fee simple; to borrow
money for the purpose of paying estate, mnherltance or other ~xes
which are required to be paid and to secure any such loans by
pledge or mortgage of all or any part of my property and to execuze
the necessary_ instruments to carry_ out such powers; to distribute
my estate mn kmnd or partly in money or partly in kind, and to
dete_~m!ne the famr value at which any property so dlstrmbuted in
kind shall be recemved by the d!strmbu~ees; ~o conduct any busmness
6
~~'~ lnterest at the t~me of mY death, for SUCh
period as my personal represenEat!ve may deem proper, power ~o
borrow money and pledge assets of the business and the power to do
all other acts that I, in my !!fetime, could have done, to de!ega~e
such power to any partner, manager or employee without liability
for any loss occurring therein and to organize a corporation to
carry on said bus!ness as capital to such corporation and accept
stock in the corporation In lieu thereof and hold such stock for
the uses of this my Will, and to vote said stock or sell the same
as to my personal representative may seem best; to reta!n ali
stocks, assets, bonds and investments owned by me withouu being
confined to what is known as legal investments; to execute any
options to purchase, to apply for stocks, bonds or other
investments, to purchase or otherwise acquire real estate and to
execute tne sempe powers thereover as hereinbefore provided, ~o
retain indef!n!te!y any part of my assets, real or personal, which
is or may become unproductive or to make sale thereof; to pay
carry!ng charges and expenses of the property ou~ of other
pr!ncipa! or income of my estate; to invest and reinvest in all
forms of property without restrlcLlon to investments authorized for
Pennsylvania fiduciaries, as my personal representative and/or
Trustees deem proper, wlnhou~ regard to the princ!ple of
d!verslflcation or risk; to exercise any law-given option ~o nreau
administrative e~rpenses either as income tax or as estate
deductions, w!thout regard to whether the expenses were paid from
principal or ~_ncome. The powers here~_n conferred sna!!
n~-med personal representat!ve and Trustees
5hereto and shall be in addi~!on and not in
Dowers conferred on said flduc!ary.
D_ny and al? payment or payments of any sum or su-ms~ whether in
cash or in kind and whether for prlnclpa! or income payable to any
benef!ciary from Estate or either Trust shall be made upon the sole
feces_pt of the respective beneflc!a~ to whom the paymen~ !s made
and free from ant!c!pat!on, ailenat!on, ass!gnment, attac-hmen~-, and
pledge and free
beneflc!aryo
iTEM IX:
by Estate or TLust
be to my
and all successors
!!mltat!on of other
from control by the creditors of any such
Ail shares of principal and zncome hereby g!ven
shall be free from antlc!patlon~ asstgp~ent,
pledge or obllgatlon of ~he benef!ciarles and any of them and shall
not be subject to any execution or atsachmenn, lev!;- or
sequestration or other claims of the credl=ors of sa!d
beneflclar!es or any of them.
ITEM X: I nominate, const!tute and appolnt Lawrence C.
Hull, my son, as the sole Executor of trims my Last Will and
Testament, to serve wi=bout bond. In the event of the
renunc!atlon, death, reslgnation~ refusal or lnablllmy to act for
any reason whatsoever of the said Lawrence C. Hull, I nominate,
constitute and appomnt Marcia M. Hull as ~he Executrmx of ~his my
Las~ Wi!! and Testament, to serve wmthout bond~
IN WITNESS WHEREOF,
Will and Testament,
HERBERT L. HULL, have, to th~s my Last
my end th s tTT/ ay oz
HERBERT L. HULL
Signed, sealed, published and declared by HERBERT L. HULL, the
above named Testator on the / 7~ day of
~ , 20~ ~ , as for hms Last Wlll and Testament,
mn'the presence of us, w~o, in his presence, and mn the presence
of each other, have, at
w!tnesses hereto.
Name
request~ subscribed our names as
residmng at
res!d~ng a~
COMMONWEALTH OF PENNSYLVANIA :
COUNTY OF ~ : SS
WE, ~he underslgned, the Testator and the wmtnesses,
respectmvely~ whose names are smgned to the foregoing mns~rument,
be!ng fmrst duty sworn and qualmfmed accordmng to law, do hereby
declare to nhe undersmgned auLhorlty thaL we were present and saw
the Testator sign and execute ~he lnstrumenm as his Wll!, and that
he had signed willingly and ~hat he executed mt as hms free and
voluntary act for the purposes ~hereln exp_ressed, and that each of
the wm~nesses, in the presence and hearmng of ~he Testator, slgned
the Will as witnesses and that to the best of their knowledge, the
Testator was at that tlme elghteen years of age or older, of sound
mind and under no constramnt or undue influence, and I, the said
9
Testator, do hereby acknowledge that I s!gned and executed the
lns~rumen~ as my Las~ Will and Testament, ~ha~ I s!gned l~
wl!!!ngiy, and ~hat I signed !t as mv free and voluntary act for
W!12~ess
Sworn to and subscr!bed b~fore
me thls /~ day of L~<t/~/~
20 ~/ ~
Notary Pub~_ ! c ~_~
My Comm!ssion Exp!res:
$333.00
NOTARIAL SEAL
MARY D VER HAGE, NotaryPubl~
Fa~rwew Twp, York County
M~/Comm~ss~or~ Expires Ma}, 7, 20~2