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Home My WebLink About02-0128PETITION FOR GRANT OF LETTERS OF ADMINISTRATION Estate of Euqene P. Gardner also known as Sec,al Securi6' ,¥o 183-12-4762 'Fo: Register of Wills for the Deceased County of Cumberland in the Commonwealth of Pennsylvania The petition of the undersigned respectfully represents that: Your petitioner(s), who is/are 18 years of age or older, appl les for letters of administration on the estate of (d b.n.; pendente lite; durante absentim durante minoritate) the above decedent. Decedent was domiciled at death in Cumberland County. Pennsylvania, ~vith h is last family or principal residence at 204 North Hiqh Street, Newburq Borouqh, Pennsylvania (list street, number, ~[wp or Bore,) Decedent, then 79 years of age, died 1127/02 at Shippensburg, Cumberland County, Pennsylvania Decedent at death owned property with estimated values as follows: (If domiciled in Pa.) All personal property (If not domiciled in Pa.) Personal property in Pennsylvania (If not domiciled in. Pa.) Personal property in County Value of real estate in Pennsylvania situated as follows: 204 North High Street, Newburg, Cumberland County, pennsylvania 75,000.00 65,000.00 Petitioner has after a proper search ha s the following spouse (if any) and heirs: Name Donald E. Gardner son ascertained that decedent left no will and was survived by Relationship Residence 26 Hassinger Road Newburg PA 17240 THEREFORE, petitioner(s) respectfully request(s) the grant of letters of administration in the appropriate form to the undersigned. 26 Hassinger Road Newburq Pa 17240 17-$9-1:2. OATH OF PERSONAL REPRESENTATIVE COMMONWEALTH OF PENNSYLVANI.4, ) COUNTY OF Cumberland) SS Yhe petitioner(s) above-named swear(s) or affirm(s) that the statements in the foregoing petition are tree and correct to the best of the knowledge and belief of petitioner(s) and that as personal representative(s) of the above decedent petitioner(s) will well and truly administer the estate according to law. Sworn to or affirmed and subscribed bet%re me this 04 February, 2002 ._ /~IARy/C £f_~I S - -~Rexistefl,/~/,az~// No. 21-02-128 Estate of Euqene P. Gardner , Deceased GRANT OF LETTERS OF ADMINISTRATION AND NOW February 5.¢2002 , in consideration of the petition on the reverse side hereof, satisfactory proof having been presented before me, IT IS DECREED that Donald E. Gardner is/are entitled to Letters of Administration, and in accord with such finding, Letters of Administration are hereby granted to Donald E. Gardner in the estate of Euqene P. Gardner MARY Z L~4~IS .~.gffgisterofWi~ FEES Letters of Administration ...... $ 2 2 5.0 0 Short Certificates ( ] 0) ...... $ qO_fl0 Renunciation ............ $ ,TOP $ q _ o 0 TOTAL__ $ 270.00 Filed FEBRUARY ~th . . . A.D. ?flOP put in prothonotary 02-05-02 H. Anthony Adams 25502 ATTORNEY (Sup. Ct. I:D. No.) 128 East King Street Shippensburq Pa 17257 ADDRESS 532-3270 PHONE his is to certify that the information here given is correctly copied from an original certificate of death duly filed with 'me as Local Registrar. The original certificate will be forwarded to the State Vital Records O~ce for permanent filing. WARNING: It is illegal to duplicate this copy by photostat or photograph, o · Fee for this certificate, $2.00 P 7998229 No. · '~'~ ~ COMMONWEALTH OF PENNSYLVANIA ,, DEPARTMENT OF HEALTH * VITAL RECORDS CERTIFICATE OF DEATH ,. Eugene Gardner LMale J=. 183- 12 4762 0 1 / 2 7 / 2 0 0 2 ,~,- ,~.:~ ~,~ ~.~ .~,~ ~.,~ .............. , 79 "/ ' : Io4/18/1922I m Cmberland k~hippensburg Twp. ~ Shippensbur, Health , Guard ' · . ~ ~ ~ ~ ~ ~"~'~ 204 N. Bigh Street ~ .... ~ Newbur~ PA 17240 ~) ,~.~Cumberland ,e. Bryce S. Gardner ~n's~.~_,~ ..... ~¢~,~ ,t Edna B. Heberli~ ~Donald E. Gardner ~ 26 Hassin~er Road~ Newbur~ PA 17240 ~O ~ ~J~0 ~ I Cumberland County "~ _ _ ........ ' ~.- , ~ ]/30/2002 ...Sprinz Rill Cemeterw [,,,.ShiDDensburz. PA 172~7 .... ' ........................................................... ' ~'~ ( ) 21-02-128 CERTIFICATION OF NOTICE UNDER RULE 5.6(a) Name of Decedent: Euqene P. Gardner Date of Death: 1/27/02 Will No. Admin. No. c~ ~-- 0 r~- -- i ~, ~/ To the Register: I certify that notice of (beneficial interest) estate administration required by Rule 5.6(a) of the Orphan's Court Rules was served on or mailed to the following beneficiaries of the above-captioned estate on 2/5/02 Name Address Donald E. Gardner 26 Hassinger Road Newburq Pa 17240 Notice has now been givento allpersons entitledthereto under Rule 5.6(a)except: None Date: 2/4/02 Capacity: Signature H. Anthony Adams Name: 128 East King Street Address: Shippensburg Pa. 17257 Telephone(532)-3270 X Personal Representative Counsel for Personal Representative LAW OFFICES OF ZULLINGER- DAVIS PROFESSIONAL CORPORATION JOEL R. ZULLINGER 14 North Main Street Suite 200 Chambersburg, PA 17201 717-264-6029 Fax: 717-264-1884 zulngrlaw(~_,cvn.net Dale F. Shughart, Jr. of counsel HAMILTON C. DAVIS 20 East Burd Street, Suite 6 P.O. Box 40 Shippensburg, PA 17257 717-532-5713 Fax: 717-530-5222 davish@cvn.net April 23, 2002 Register of Wills Cumberland County Courthouse Carlisle, PA 17013 Gendemen: RE: Estate of Eugene P. Gardner File No. 21-02-0128 Enclosed is check from the above estate in the amount of $14,962.50, representing prepayment on the Pennsylvania Inheritance Tax. The prepayment is based on an estimated value of $350,000.00 taxable at 4.5% or $15,750.00, less discount of $787.50. Thank you. COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 RECEIVED FROM: PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT NO. CD REV-1162 EX(11-96) 001110 JOEL R ZULLINGER ESQUIRE 14 NORTH MAIN STREET SUITE 200 CHAMBERSBURG, PA 17201 ........ fold ESTATE INFORMATION: SSN: 183-12-4762 FILE NUMBER: 2102-01 28 DECEDENT NAME: GARDNER EUGENE P DATE OF PAYMENT: 04/25/2002 POSTMARK DATE: 04/24/2002 COUNTY: CUM BERLAN D DATE OF DEATH: 01/27/2002 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 $14,962.50 TOTAL AMOUNT PAID: $14,962.50 REMARKS: JOELRZULLINGERESQUIRE SEAL CHECK//103 INITIALS: AC RECEIVED BY: MARY C. LEWIS REGISTER OF WILLS REGISTER OF WILLS COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 RECEIVED FROM: PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT NO. REV-1162 EX(11-96) CD 001685 ZULLINGER JOEL R 14 NORTH MAIN STREET,SUITE 200 CHAMBERSBURG, PA 17201 ........ fold ESTATE INFORMATION: SSN: 183-12-4762 FILE NUMBER: 2102-0128 DECEDENT NAME: GARDNER EUGENE P DATE OF PAYMENT: 10/03/2002 POSTMARK DATE: 1 0/02/2002 COUNTY: CUMBERLAND DATE OF DEATH: 01/27/2002 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 $244.11 TOTAL AMOUNT PAID: $244.11 REMARKS: DONALD EGARDNER C/O JOEL R ZULLINGER ESQUIRE SEAL CHECK# 107 INITIALS: CW RECEIVED BY: MARY C. LEWIS REGISTER OF WILLS REGISTER OF WILLS 500 EX + (6-00) Z ~J I- Z LU Z 0 tU 0 Z COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE DEPT. 280601 HARRISBURG, PA 17128-0601 DECEDENTS NAME (LAST, FIRST, AND MIDDLE iNiTIAL Gardner, Eugene P. DATE OF DEATH (MM-DD-Year) 01/27/2002 REV-1500 INHERITANCE TAX RETURN RESIDENT DECEDENT 04/18/1922 OFFICIAL USE ONLY 17- FILE NUMBER 2 1 -0 2 1 2 8 COUNTY CODE YEAR -- NUMBER SOCIAL SECURITY NUMBER 1 8 3- 1 2-4 7 6 2 DATE OF BIRTH (MM-DD-Year) (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL} THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS SOCIAL SECURITY NUMBER r~l. Original Retum E~4. Limited Estate El6. Decedent Died Testate (Attach copy of Will) ~]9. Litigation Proceeds Received r--12. Supplemental Retum E~4a, Future Interest Compromise (date of deC after 12-12-82) E~]7. Decedent Maintained a Living Trust (Attach copy of Trust) r~ 10. Spousal Poverty Credit (date ofdea~ between 12-31-91 and 14-95) E~3. Remainder Return (date of death pdor to 12-13-82) r--] 5. Federal Estate Tax Retum Required ~ 8. Total Number of Safe Deposit Boxes ~]11. Election to tax under Sec. 9113(A) (At,ch Sch O) NAME Joel R. Zullinqer FIRM NAME (If Applicable) Zullinger Davis, P.C. TELEPHONE NUMBER (717)264-6029 COMPLETE MAILING ADDRESS 14 North Main Street, Suite 200 Chambersburq PA 17201 1. Real Estate (Schedule A) (1) 2. Stocks and Bonds (Schedule B) (2) 3. Closely Held Corporation, Pa~ership or Sole-Proprietorship (3) 4. Mortgages & Notes Receivable (Schedule D) (4) 5. Cash, Bank Deposits & Miscellaneous Personal Property (5) (Schedule E) 6. Jointly Owned Property (Schedule F) (6) E~] Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Properly (7) (Schedule G or L) 8. Total Gross Assets (total Lines 1-7) 9. Funeral Expenses & Administrative Costs (Schedule H) (9) 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10) 11. Total Deductions (total Lines 9 & 10) 12. Net Value of Estate (Line 8 minus Line 11) 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) 168,800.00 ...... 0 ~lbl~l- ~-{~N I~;f 69,138.47 87,740.68 40~190.43 (8) 9t841.06 603.78 (11) 365,869.58 10~444.84 (12) (13) 355~424.74 0.00 14. Net Value Subject to Tax (Line 12 minus Line 13) (14) 355t424.74 SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) 16. Amount of Line 14 taxable at lineal rate 17. Amount of Line 14 taxable at sibling rate 18. Amount of Line 14 taxable at collateral rate 19. Tax Due 20. X . (15) 355,424.74 X .045 (16) X .12 (17) X .15 (18) (19) 15~994.11 15~994.11 Decedent's Complete Address: STREET ADDRES¢ 204 N. High Street CITY Newburg ISTATE PA Iz~P 17240 Tax Payments and Credits: 1. Tax Due(Page 1 Line 19) Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount 14,962.50 787.50 Interest/Penalty if applicable D. Interest E. Penalty (1) Total Credits ( A + B + C ) (2) Total Interest/Penalty ( D + E ) (3) If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund (4) If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) A. Enter the interest on the tax due. (5A) B. Enter the total of Line 5 + SA. This is the BALANCE DUE. (SB) Make Check Payable to: REGISTER OF WILLS, AGENT 15~994.11 15~750.00 0.00 244.11 244.11 PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred; ........................................................................... [] [] b.~ retain the right to designate who shall use the property transferred or its income; ........................................ [] [] c. retain a reversionary interest; or ...................................................................................................... [] [] d. receive the promise for life of either payments, benefits or care? ............................................................. [] [] 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? ............................................................................................... [] [] 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? ................. [] [] 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ....................................................................................................... [] [] IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. Under penalties of perjury, I declare that i have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIGNATUF~I~OF PERSON RESPONSIE~r.E FOR j:ILING RETURN ADDRESS 26 Hassinger Road Newburcj DATE PA 17240 SIGNATU..~[,-OC~REPARER OT, J~E~ REPRES~EN/T~T~E ADDRES~/~ N'"O~"~ Uain/S~'~,-Suite 2oo,~/ ~"Chambersbur.~j_,/ " DATE PA 17201 For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3°1o [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0% [72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is 0% [72 P.S. §9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. §9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE ESTATE OF FILE NUMBER Gardner, Eugene P. 21 02 128 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION Tract of real estate, together with improvements thereon erected, situate at 204 N. High Street, Newburg, PA, appraised by Roy R. Monn, Jr., with copy attached Tract of real estate, together with improvements thereon erected, situate at 202 North High Street, Newburg, PA, appraised by Roy R. Monn, Jr., with copy attached VALUE AT DATE OF DEATH 120,400.00 48,400.00 TOTAL (Also enter on line 1, Recapitulation) $ 168,800.00 (If more space is needed, insert additional sheets of the same size) REV-~503 EX + (1-97) ~~ COMMONWEALTH OF FENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE B STOCKS&BONDS ESTATE OF FILE NUMBER Gardner, Eugene P. 21 02 128 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER OF DEATH 1. Account #697-19616, Merrill DESCRIPTION Lynch, consisting of the following investments: Money Fund - $9,535.00 662 shares M.L. Global Allocation @12.75 - $8,440.50; 3567 shares John Hancock @4.68 -$16,693.56; 1813 shares Lord Abbott @2.57 - $4,659.41 Account #A09-0002609-1-127 Fahnestock, consisting of the following investments Prime Cash Money Market - $27,160.00 Fleet Capital Trust VI 8.8% TOPRS due 6/30/30 - $2,650.00 TOTAL (Also enter on line 2, Recapitulation) $ 39,328.47 29,810.00 69,138.47 (If more space is needed, insert additional sheets of the same size) REV.I~8 EX + (1,97)3. ~ COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC, PERSONAL PROPERTY ESTATE OF FILE NUMBER Gardner, Eugene P. 21 02 128 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorship must be disclosed on Schedule F. iTEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. Account #360-02388 Legg Mason Wood Walker, Incorporated, consisting of the following 31,467.13 Certificate of Deposit $25,000.00, including accrued interest $249.86; Money Market $6,210.88, including accrued interest $6.39 Account #0183124762, PSECU, including interest accrued to date of death Account #0097250031, Allfirst Bank, titled in Eugene P. Gardner or Virginia M. Gardner, his wife, (Virginia M. Gardner predeceased on 1/12/2002) Certificate of Deposit #87008141031201, AIIfirst Bank, titled in Eugene P. Gardner or Virginia M. Gardner, his wife, (Virginia M. Garnder predeceased on 1/12/2002) including interest accrued to date of death 1994 Dodge Intrepid 4 door Sedan, Kelley Blue Book value attached 1975 Ford Galaxy 1970 Honda Trail Motorcycle sold privately for $100.00 44,131.75 4,471.67 2,005.13 5,465.00 100.00 100.00 TOTAL (Also enter on line 5, Recapitulation) $ 87~740.68 (If more space is needed, insert additional 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 Gardner, Euqene P. 21 02 128 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is, es. DESCRIPTION OF PROPERTY % OF ITEM INCLUDE THE NAME OF THE TR,~SFEREE, THEIR RELATIONSHIP TO DECEDENT AND THE DATE OF TRANSFER. DATE OF DEATH DECD'S EXCLUSION TAXABLE VALUE NUMBER ATTACH A COPY OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IF APPLICABLE~ 1. IRA Account #87000105006002, AIIfirst Bank, beneficiary 4,006.36!100. 4,006.3(~ decedent's son, Donald E. Gardner 2. lIRA Account #87000105006003, Allfirst Bank, beneficiary 7,487.51 100. 7,487.51 decedent's son, Donald E. Gardner 3. IRA Account #87000105006004, AIIfirst Bank, beneficiary 7,014.25 100. 7,014.25 decedent's son, Donald E. Gardner 4. Account #1183124762 PSECU, in trust for Eric E. Gardner, 21,682.31~ 100. 21,682.31 decedent's grandson TOTAL (Also enter on line 7, Recapitulation) $ 40,190.43 (If more space is needed, insed additional sheets of the same size) REV-15t 1~ + (1-97)) ~ COMMONWEALTH OF PENNSYLVANIA INHERITANCETAXRETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER Gardner, Eugene P. 21 02 128 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT 8. 9. 10. FUNERAL EXPENSES: Fogelsanger-Bricker Funeral Home, funeral services ADMINISTRATIVE COSTS: Personal Representative's Commissions Name of Personal Representative (s) Social Secudty Number(s) / EIN Number of Personal Representative(s) Street Address City State Year{s) Commission Paid: AttomeyFees Joel R. Zullinger Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Zip Street Address City State Zip Relationship of Claimant to Decedent Probate Fees Register of Wills - JCP fee 5.00; short certificates 30.00; letters 235.00; filing return 28.00 Accountant's Fees Tax Return Preparer's Fees Commonwealth of Pennsylvania, transfer of car title Sollenberger, transfer of car title Roy Monn, appraisal of real estate State Employee's Retirement System, return of benefits TOTAL (Also enter on line 9, Recapitulation) $ 6,430.50 2,500.00 0.00 298.00 57.00 51.00 450.00 54.56 9,841.06 (If more space is needed, insert additional sheets of the same size) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS ESTATE OF Gardner, Eugene P. FILE NUMBER 21 02 128 Include unreimbursed medical expenses. ITEM NUMBER DESCRIPTION Sprint, telephone service GPU Energy, utilities due Physician's Group, medical services U.S. Treasury, 2001 income tax due PA Department of Revenue, 2001 income tax due Dr. Balhara, medical services TOTAL (Also enter on line 10, Recapitulation) $ -AMOUNT 23.29 22.59 32.90 15.00 410.00 100.00 603.78 (If more space is needed, insert additional sheets of the same size) REV-1513 EX + (9~ COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE J BENEFICIARIES ESTATE OF Gardner, Eugene P. NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a)(1.2)] Donald E. Gardner 26 Hassinger Road Newburg, PA 17240 FILE NUMBER 21 02 RELATIONSHIP TO DECEDENT Do Not List Trustee(s) son 128 AMOUNT OR SHARE OF ESTATE entire estate 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 0.00 0,00 TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 0.00 (If more space is needed, insert additional sheets of the same size) RESIDENTIAL APPRAISAL REPORT Property Location: 204 N. High Street Newburg, Pa. 17240 Homeowner/Borrower Name: Eugene p. Gardner & Virginia Estate Prepared for: Prepared by · Atty. Anthony H. Adams West Orange Street S-burg, Pa. 17257 Executor - Donald Gardner Roy R. Monn, Jr. GA-000688L Date: 4/10/02 File Number: BLAKEWCOD BUSINESS FORMS, INC, 1 (800)443-1004 ,,fy Appraisal Report UNIFORM RESIDENTIAL APPRAISAL REPORT !Pie'9o. 000 033i Pag;e #? h-'la I~. 0~30.013 Address 204 North High Street ~ Newt3urg Stae Pa. ~p Code 17240 C_,our~ Cumberland 24-21-0390-.026 fa~ Yea[ 2(X}2 R.& fao(es S ,~_~ $1~,370.00 Sale P~ce $ Loc~Jo~ Growih rate ~eperb/values ~ Increasing ~ StYe i~ Declining t3er~,a~'supply ' Shortage ~ In balance ~ Over s~ppty ? Under 3 mos, 80.000. ]late: I~i~e and Usa racial ¢~mpe$1tJegl of fha nwlghlee~hood am aat~ aplx'ailat f~ Ne~ghbo~h~(x} botmd~e$ and cha-a~e~sfics: Borough Newbur~ Vidnia M. C~er~ O~er Estate Occupa~ Ow~m' ', ·Ter, a~t Vac~rt ~ ~ Le~ehdd ~ T~ ~ C~ (H~A ~) ~A ~ ~M0 ~ ~ 2&21~ ~ T~ 131 1.00 , H. Adams -E~e Eugene r ~ We~ ~ ~. Ship~s~. Pa. 1~57 Monn Jr. ~ ~1 Ea~ ~ ~ ~i~ms~r Pa. 17257 Fact~ Sat ~ect the ma,'Xeta~itit7 of Se properties in ~ ~i~d (pr~ to emptoyme~ and areaway. ~ stal~r~, ap~ to rnar~,L ~.): : Con¥ient location & close to Shippensbun:j University and the Pa. Turnpike exit at Blue Mountain and only two properties fi'om New'ourg Fire ~, and good acess to I 81. Maker cofldit~ofls in ~he subject netgt~onSood ('b'~uding suppmt for the a~e coflclusi~fls ~ah~l to ~e t~ of [xopeft'~ ~JeS, demar~su~, a~ ma~ Ume - such as data on competiINe p~per~es for sale in the Reighborl~od, descfiptJaq of t~e p~ralm~ of s~es and ~mand~ This area is histodc as to older properties are concerned and two new developments in the Boro with one being almost completed. I can not see any reason that this trend will not continue until all lots in Newburg are sold or used. No special financing in this area at this time that could be considered as typical for this area. except maybe some owner Pmje~ Inferm~en fac PUD~ {ff applica~e) - - Is the devetoper/t~ilder in co~'~ o~ t~e Home O,m'n~' ~ tT~A)? __ Yes No Apa'~dmate t0tai number of units in the subject pmjeof A,~ tmal ~ of urtts fa' sale in U~e sub~ p~ct Oescdbe common elements and recreational facii~es: Dimensions 92 x 169 = 15,548 s.f. or .357 acre ~e ada Comer Lot ~-~ Yes ~ No Specific zoning ciass~cation and peSCnpUon Residential Z~ing cornpila~ce ~ Legal i'-~ Legal nonco~fo__,~ng (Grwmla~ed use) improved: ~' ~ PTesm~ use i i Other use (explain) I~'li,~ e~ Public Other Off-site Imlxovement~ Type Public Bec~city '~ Sb'eet macada.__~m 6as ~ 1 Curb/gutter concrete Water ~ well 1 Sidewak concrete , ~ sewer ~ both houses / S~eet lig~hts ~ ~---' Storm sewer ~ [ ~lev CmT~S (aR0arent adverse easements, encroachments, special assessments, slide areas, }gm]al 0~ legal nmcootmTa~ zorm9 use. a shared well with 202 N. High St.- No other easements or encroachments were observed off this site. [ level .357ac. rectanglar ' good View typical 0~ ~ black-top A¢¢~ ea~ none observe__ FEMA Spatial R(md Haz~cl A~a ~ Yes ~EMA Za~ _ Map At this time there GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUN[~,TION NO. o~ Ll~s 2 FoundaJon c.b. Slab No. of St~es 2 Exted0r Wats bdck Crawl Space Type (Oet./Att) ddt. Roef Sun, ce Basement full Oesign (Sfyte) C-ottem & {~mspts. metal Sump Pallp none ExJ~n~Pt'opased existing Window Type Bampmss none Age (Yrs.) 1947 StOml/SCreens ~es S~Jement n~qe 30 Mand~"tured House no IntestaJoa no~3e Ama Sq. R. 1,0(33 iCetling ~Walls i Walls c.b. iRoer concrete None R~shed a~ alxwe qr~de contains: 7 Rooms; 3 Bedroom(s}; 1.5 1.504 INTERIOR Matedals/CondilJorl HEATING KI'roN~ EQUIP. tAT[lC t~), Roots hardwood R. mtTYPeh.w.~:_____ Rddgemtor.,.,.__~ S~StaiT Walls plastered oil Range/Ovefl ~ S~' ~ 'P',',~ Tdm/Rnish stock ICo,q6~Jon average L~h,~h,~ ~ ~ :__ 9at~Roor ,ino. I~,~G none ~ ~ Wainscot ceramic tile Fan/1-1ood ~ _ Doors hollow-core __ Microwave :_~ Heated _.~ tCo.d~on [Washer/Ow~ ~ Addi~onal tear,es (special ena-gy efficieflt Rems. etc.): 4 x4 =16s.f. Shower stall in basement:sc, men in porch 9 x 18; 5 x 5 brick stoop 501 25 s.f.: rea # of cars 1-car black-top Co~m~ ~f tt~ improvements, d~preciation (physical. func~onal, and external), r,~airs needed, q~ ot ~ mm~om, etc.: value is for no shower in bath--age is the main depreciation factor. Functional Adve~e emqronmental condi~ons (st~h as. but nof limited to, hazadous wasles, to,dc st~sta~, etc.) presml in b~e impra~ements, m ~e sile, ar in lhe b'mT~ediate ,Acinity of the subject propmly.:Did not observe any adverse environmental condition on this site that would affect this reasonable estimate of value. Far~e Ma~ From 10~4 6/93 r-.indUe Ma: Form 70 6/93 PAGE 1 OF 2 UNIFORM RESIDENTIAL APPRAISAL REPORT ~,~. ooo.o13 .:STIMATEDShTEVALUE .15,548s.f..@ 1.25-- ...... = $ 19.435 ~onCostAppma~(s~has. sm~,~ceo/c~st,,,~lJmate, sttevaue. ~S~MA~D REPRCDUCT~ON COST-NEW-OF !MPROVEMENTS: 3wetling 1,504 Sq. FL @$ 64.56 = $ 97,098 1,003 Sq. FL @$ 12.00 = 12,038 = 5,555. square to~t cac~on md fer HUD. VA and R"m-~ ~he es'Amaed rcmar~j 162 sfL~ 14.00 = 2.258. .5 bath = 750. fireplace = 2.250. 3arag~Ca~p~d 396 Sq. FL ,~$ 15.01 = 5,944 porch41s.f. ~ 7. =287 Tot~ Es~mated Cost New ........... = $ 120,633 total extra's = 5,555. L.,ss Physical Functicnat Extema~ 3epremat;Jcn 42,222! 3.819! =S 45,641 : 3epre~ated Value of lml~rove,ments ...... = S 74,792 'As-is" Vaue of Site !mpfovements . ..-f6500.& buj!ding .... =$ 27,503. c.b. & hame iNDICATED VALUE ~Y COST APPRDACN $ 121.730 26.52 =21,003 ITEM J SU~ECT COMPARABLE NO. 1 COMPA,~ NO. 2 C~,IPAR~ ~0. 3 204 North High Street 233 East King Street 216 East Burd Street 387 Green Springs Road Address Newbur miles 6- miles 3-miles Sates Pflce 1.00 IS IS 88,500. J$ 125.000. Price~ross 5640 ~:[ 55.73 ~:1 5~ .85 ~ i '3a~a ara/or 33-33-1867-071 225-225 Ve~cation Source court-house court-house Multi-list 'tALUE ADJUSTMENTS DESCRIPTION OESCRIPRON DESC~ DESCRIPTION conY. Saes (~ Rnancing Concessions . conv. conv. Date of Sale,q'ime 03-3%98 : +8,000, 8-00 +4,000, 11-08-01 Lm~Jcfl urban urban : urban rural +6.000. Leasehold/Fee Sim .36ac .27 ac. +3,500. 08ac. +9,500..69 ac -3,500. ~ew ~ical '~ Cons'~ction bdck Alum +2.500 brick bdck 947 1900's Above Grade Total Bdm~s Baths Total BCrms Baths Room Coum 7 : 3 i %5 8 4 i 2 1950 1963 Tofa 8ams Baths -500 7 : 3 , 1.5 -7.120. 1.588 Sq. FL 1,860 Sq. Ft. ~a.sement & Rnished 1,003full partial +4,000. full · full Rooms Be{ow Gmde none none : none none Total Bdrms ~ 9 5 2 -1,680 2,411 Sq. Pt -2,000. -500. -9.070 h.w. no H.W. -No h.w. no h.w. - no -2,500. 2-car , Efficient Items Pm'cfi, Pa~o, Decl(, 1-car 2-car -2..500. 2-car porch-patio porch none - F.P. +2,000. none - F_P. & Frame O0 none · ~+ --~- $ 13,880 ~ -- Acijusted Saes Pdce ' Ne~ ~3.2 % Net 38.5 % Gross: 325 % S 118,780 Gross Comments on Sales Cornpa~son (inclu~ng ~ subject property's compatibil~ to ~ nm~lx~tmed, etc.}: a historic bdck dwelling & larger in size but no apt. Sale # 1 inferior to size and location. -500. +2,000. , fr.--F.P. Sho +21 $ 4,570 Net 33'~ 120,820 Gross 25.3 % 120.430 105 E. Main St. Newbun:j sold 4-15-02 for 93.500. at end of lot. This lue to lot size & no apt over out]3uitdinq. Sale # 3 Is most like sub ITEM SUBJECT COMPARABLE NO. 1 ~ COMPAP. NBt.~ NO. 2 COMPN~Bt.E NO. 3 Date, Price ami Data no-pdorsale withi no pdor sale within l-yr ] no pnor sale within 1 year. no pdor sale within 1-yr Source, for p~or saJes one year Analysis o~ any current agreement of sale. option, ur listing of subject propedy and anatysis of any pda' sales ~f subject and compa'at~es wfl~n one year ~ the date of ap~aisal: is not for sale at this Ume, and need value for estate use. INI3CATED VALUE BY SALES CO~PARISDN APPROACH ........................................................ S 120,400. INI3DATED VALUE BY INCO.~ME APPROACH (._~'d Applicat31e1 E~msted Market Re~t S ~s al~raisal is made ~ "as is' ~ : subject to ~ repam, a~ter~om, inspec~or~ er ~r~ons Ib-t~d be~w :_~ sub~='ct to ca'r~p~on pe~ plans & spec~caJons. Ca'~Ums of Apprasa~: Appraised as is - no repairs will be made Rnal Recoa~lia~on: Emphasis is placed on the market data approach in order to show what the This is a unique property and good comparables are hard to find These are the most current & the cost approach will add suport to this reasonable estimate of value. The purpose of this appraJsaJ is to estimate the manet vaJue (~f fhe real property ~ is ~ subiect of this re~. based ~ the above cond~ons and ~ ¢~a~m~. c~t and limiting cond'rUons, ~nd market value definYdon that are stated in the ~ach~l Freddie Mac Fo~m 439d:NMA ~ 1004B (ReWsed 6-93 ). I (WE) ESllMATE THE MARKET VALUE, AS DERNED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF 'l'~S RF..IKNTr, AS OF 4-10-02 (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO 8E S 120,400 APPRNSEI~..00 SUPERYISORY APPRAISER {ONLY IF REG~IRED): ~ ~o¥ R. Monn Ur.' ~Z. ' ;/~, N~ ~ ~ ~e R~I $io,~d 4-10-02' D~e ~ ~ State CerUfica~on # GA 000688 L StaIe Pa. Slate Cer~ce~on ~ State State Or State Ucense # Slate Redoie Mac Foffn 70 6/'93 PAGE 2 OF2 Pa,,mie Mae Form I0~4 6-93 Form UA2 -- "TOTAL for W~ndows" aAoraisal softwa~ by a la mode, inc. -- .North Hi:Nh_. 3:.~. Cumberland _A~y~A~y__~=~_ Executor - REAR OF SUBJECT PROPERTY STREET SCENE PHOTOGRAPHS ON REVERSE SliDE =':=~'~' ~::"~ 204 ~l~rth High_~reet AttZ. Anthony H. Adams - Executor Donald Z: >::e 17240 Gardner SUBJECT PROPERTY STREET SCENE ADDITIONAL PHOTOGRAPHS ON RE. VE. RSE S!DE PHOTOGRAPH ADDENDUM Eucene P. Gardner & Martha M. 204 North High Street New. burg c~?~ Cumber!and ~:~ Pa. i,~ ~,:~ ]724Q An~V N. Adams Executor - D~nald , CCMPARABLE SALE COMPARABLE SALE #2 COMPARABLE SALE #3 ADDITIONAL PHOTOGRAPHS ON REVERSE SIDE :.lgSJ. Fcrms ~d Worms ? inc. A',[ Rights Reserved I fSCC 2~3-~545 FW gC, C=S item =I i~600 MAP SKETCH ADOENDUM Euqene P. Gardner & ~!artha Y_i_. Estate 204 N~i~h S~_~ .............. LL2~0 BUILDING 3~ SHIPP R'le ,'~. CO0 013i Paqe DEFINITION OF MARKET VALUE: The ~"nost prub~le price '~,ich a prope~ ~d ~ m a c~ ~ ~ ~t ~ a ~s re~ to a far s~e, ~e ~ ~ ~1~. ~ m~ed: (2) ho~ ~es ~ well i~o~d or f~ ~ in ~e op~ m~ ~4) pa~e~ Adjustments to the comparables mum be made for special or creative fma~ ar sates concessions_ No adjustments are for nose costs wt~ a~e normally paid by sellers as ~ result of tradition or lasv in a market area; ~ costs are rea:~ since the setler pays these costs in virtu~iy all sales transactions. S{~ecial ar c~e fin~:ing ab~JatiT~s ca~ be made to tt~ compocable prope~ by c~',padsons to financing terms offered by a ~ ~ imtil~or~l ler~:~ that is not atre. a~ pcopert~ or tansactJon. Any adjustment should not be calculated on a rae~dar~r~ dotlar tm' ddlar cost of t~ §honing m' c~nces~ce but U~e dotlar amount of a~y adiusb*nent should a~pmxJma~ We ma'ke~$ reac'Uo~ to ltm fi~cing o~ cO¢~c~-~e~s appraiser's ~udgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The al~PraseFs cer~fica~en tt~ appea~ in ~ a~¢~ rep~t is s~jed to ~ ~ow~ 1. The appraiser will not be responsible for matters of a legal nature that affect eith~ the ~xoperly b~ng appraised ar the l~e to it. The appraser aesa~es ~ the He is good and marketable and, therefore, will not render any opinions about the lille. ~ propely is al~raSe~ on the basis of it be~ ~ respons~bie ownersnip. 2. The appraiser has provided a sketch in the appraisal report to show appro~mate c~men~ons of the improvements and the sketch ~ indudod ~ty to assist the reader of the report in visualizing the property ~d understanding the ~pralser's determth~on of its ~e. 3. The appraiser has ex~ined ne available flood maps that are provided by the Feder~ Emergency Ma~gemant Agem~ (or other data s~ur~s) ~ has r~t~ in the app~sal report whether the subject site is located in an identified SCedal Ro~ Hazard A~re& ~ the apprais~ is not a s~weyar, he or she makes no guarantees, ex~ress or imptied, regarding this determin~on. 4. The appraiser wilt not give testimony or appear in court because he or she made an ap~sal of the propm'~ in q~stion, unless s~-.ecific ~ to do so have been made beforehand. 5. 1'~ appraiser has estimated the value of the land in the cost approach at its hi(j~est a~ best use and ~e improvm'mmts at ~ cmCmb~tcry value. These segarate vaiuaUons of the lard and improvements must n~t be used in conNncti~ with any ~ apPr~sal a~i a~ iovalid if t~ ~ so used. 6. ~ appraiser has noted in the appraisal report any adverse comlitions (such as, needed repairs, depreciation, the presence of hazardous wastes, tc0oc substances, etc.) observed duting the inspection of the subject property or 8~ he or she bm:amc aware of doing the normal ras~ach involved in perfom~ng the apPrasal. Unless otherwise stated in the appraisal report, the appramer has no IOl~w~edge of any bi~m or tmappa~ent c~z~ons of Um proped7 ar advere~ environmental conditions ~nduding the presence of hazardous wastes, t~c substances, e~c.) ~ would make the properly rne~e or ~ess ,¢akm~e, and has assumed that there are no such conditions and makes no guarantees or wae'a~es, exlxess or implied, rega~ng the cor~m of the pro~ty. The appraser witl not be responsible for any such conditions that do exist or for a~ en~ine~ng or testing tho r~ght be required to ~sc~ver whether such cor~ous exist Because the appraiser is not an expert in the fiad of em4rmmer~ hazards, the ai~asat repal must not be ~ed as an enviroamental assessment af the properly. 7. The appraiser oMained the information, esUmates, and opinions ~ were expressed in the apl~sat repal l'rom sources ~at he or she considers to be reliable and believes them to be ~e and CC~Tect. The appraiser does not assume resporNU~ far the accoracy of sucil items ~ were furnished by othe~ pa,,lJes. The appraiser will not disclose the contents of the appraisaJ [eport except as i~ovided for in the Untfo~m Standards of Professiof~ /~or~sal Prac~ce. 9. The appraiser has based his or her appraisal report and vaJuation conclusion for en al:~Sat tha~ is subject to s~sf',',',',',',',',a~my com~elion, ~alre, or ~r~ons on the assum~on that completion of the improvements will be performed in a weri~nardike manner. 10. The appraiser mu~ provide his or her prior w~on consent before the le~w/clier~ s~ in the a~t~a~at m~ ~ ~ ~ m~ r~ Onctuding conclusions ~o~ ~e prope~j v~ue, ~e ~pr~s~s i~ ~d ~ons ~ the fi~ ~ which ~e ~p~s~ is ~iaed) to ~yone ~er ~ ~ ~ ~ ~ ~ ~ ~c~ ~ ~; ~ ~e ins~e~ ~nsult~s; pr~easion~ ~pr~s~ org~iz~ions; ~y ~e ~ fed~ly ~ fi~ ~ ~ ~ ~ ~, ~ i~ coflecUon ~ rep~ng se~ce(S) ~ h~ing to obtan the ~s be ~tanep beto~ the ~s~ ~ be conveyed by ~yone th Freddie Mac Form 4,39 6-93 Pa~el of 2 .............. M ,onn's. App~.sal. Se~. 'ce (7.17) .F72-7.970. r-amie Mae Fo~m 10048 $-93 APPRAISER'S CERTIFICATION: The Appra~ ~erffies ~ ~s ~ 1. I have researched the subject market area and have selected a ~nimts~ of ~ee recent Xes of ~ ~ ~t~ ~ ~ f~ c~ider~cn in ~e s~es co~son ~ysis ~d have made a d~l~ ~s~ ~ ~e to ~ ~ ~ m~ v~on. tfa si~c~ item in a complete prope~ is supen~ ~, ~ ~ t~ ~. ~ ~ ~, I ~e made · e ~iu~ed s~es ~ce ¢ the c~p~le ~nd, if a si~ific~ ~ ~n a ~mp~le ~ is i~ to, ~ ~s f~le ~ ~e a~s~e ~t to incre~e ~e ~ed seas pnce ¢ ~e compile. 2. I have taken into considera'fion the factors that have an impact on value in my devetoomont of the estm~ of ma,d~ va~Je in ~ apprmsal ,~ ! have ,not knowingly withhhetd any significant inform~on from the apprasa~ repot and I believe, to the be~t of my knowledge, that alt statements and ir~nT~on in the a~p~sat report are Me and cor~eof. 3. I stated in the appraisal report only my own personal, unbiased, and p~ofessional analysm, opinions, and conclusions, which a~ sub,oct O~y to the contingent a~ lim~Jng cond~ons specified in this form. 4. I have no present or prospec~e interest in the properly that is the s~bjeof to this repod~. ~ I have no presant or j:~x:~spec+Jve ~ int~n~st or bias ~ respect to the participants in the ~-ansaction, I did not base. either partially or c'omi~etety, my ~s a~:t,/or the esl~mate of market value in ~ ~sal report on the race. color, religion, sex. handicap, tamilial status, or n~onaJ ~gin of mt/mr ~ prost~,~:ti~ owners or occt~rm'ifs of the a.~,ct ~'o~edy or of ~ present owners or occupants of Be propeCdes in ~e Mcinify of the subject property. 5. I have no present or contemplated Mure interest in the subjed properly, and neither my c~'Te~t or future efopleymeflt ~ my cm~m~tion for ped~rmmg ~s apprdieal is con~ngeof on h~e appraised value of the property. 6. I was not required to report a predetermined value or direction in value thai favors the caus~ of the edent or a~/rotated pafl'y, the am~nt of ~h~ value es'dmate. the a~amment of a specific rest, or the occurrence of a subsequent e~ent in order to recewe my compema~on and/or empioym~ ,~' pefiz~'~9 ~ apor'.~al. 1 did not base the zppralsal report on a r~luested minimum valuaUcn, a specific vafu~on, or the need to approve a speci~ modgage loan. 7. I pedormed this appraisal in conformib/ with the Uniform Standards of Professional Appraisal Practic~ that were a~opted ~ l~'o~'n~dgated by If~ A~praisat Standards Board of The Appraisal Foundation and that were in place as of the effecUve date of ~ appcmsal, ~ ~ excepUon of ~ departure pro,sion of t~hose Standards, which does not apply. I acknowledge that an estimate of a reasonable time for ~ in ~e op~m market is a condition in ~ flefindian of rnar~ vatue and the esUmate I developed is consistent with the markeUng Ume n~ted in the neiglzbort~od section of this report urdess I have otherwise st~ed in the reconciliation section. 8. I ha~e personally inspected the intedor and extedor areas of the subject property and the ext~or of ali pmpeCdes listed as coropaJ~bies in the apprasal report I further cert~/that I have noted a~y a~parent or known adverse con~tions in the subject irop~ven'~mts, on tt~ subject ~e, or on any ~e witch the irr~ne~ate vicinity of the subject properly of which I am aware and have made ad~.,-bTmnts tot these adverse conditions in my analysis of the propert~ value to tim extent ~ I had market evidence to suppod them. t have also commented al~out the effect of the adverse cor~Cdons on the marketabil~ of the subject properb~. 9. I personally prepared all conclusions md opinions about the real estate that were set forU~ in the a~mai~ mp~'L If I ~ed m significant professional assistance from any individual or individuals in the peflormance of the app~sat or the FeparaJon of l~e apl~isal re~rt. I ~ rained such individuaJ(s) and disclosed the specific tasks performed by them in the reconciliation section of this apprasal report t cmlFry +Jot my indwiduai so no-ned is quaified to pedon'n the tasks. I have not authorized anyone to make a char~je to any item in ~e report;, therefore, if ~q uc, a~l~m~ ofmnge is made to the acpr~sat report I will take no responsibitit~ for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supemsort appratsm' signed the aplxaisal report he or she certifies and aoj'ees that: I direc'dy supervise the a~praiser who prepared the appraisal report, have reviewed ~ appral~ report aFee w~ ~e statements and conclusions of ~ acpratser, agree to be bocnd by the ~op~ser's certifications numbered 4 through 7 ~ove, and am taldng ~1 respormb]ity for hhe apcmisal a~ the appmi~ reporL ADDRESS OF PROPERTY APPRAISED: 204 North High Street, Newbur9. Pa. 17240 APPRAISER: Signature: ~;~..~--'~ ~ ~..r-7"Y//y'~ _~ Name: R~ R. ~on~ ' ~ - '/ Oat~ Si~ed: ~1~ ' S~te CeYlon ~: 'GA 00~88 L ~ S~e License ~: S~: Expiration Date of Certifica~on or Ucense: SUPERVISORY APPRAISER (only it required): S~gnat~e: OateSig~'m~. Freddie Mac Form 439 6-93 Page2 of 2 Form ACR -- q'0TAL for Windows" appraisal software by a la mode, inc. -- 1-800-ALAMODE FenCe Mae Form 1004B 6-93 · SUPPLEMENTAL INFORMATION AND APPRAISER'S CERTIFICATION This is a X .appraisal. This is a .appraisal report. The client(s) for whom this appraisal is made is (are): Eugene P. Gar~ner & Hartha M. Estate Executor Donald Gardner Theintendeduse(s)~theappmiser'sopinionsandconclusionsis(are): Estate Purposes Theintendeduser(s)~ theapp~ser'sopinions andconclusionsis(are): SAME In myopinionthereasonableexposuretimelinked m thevalueopinionis: Over 6-months The following additional information is supplied to support the highest and best use conclusions: Additionally I (we) certify that. to the best of my (our'~ knowledge and belief: × - the statements of fact contained in this report are true and correct. X - the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. Z. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal interest with respect to the parties involved. X' I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. X - my engagement in this assignment was not contingent upon developing or reporting predetermined results. X - my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment ora stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. X - my analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. X -The appraiser(s) X have __ have not made a personal inspection of the property that is the subject of tN s report. -The supervisory appraiser (s) have __ have not made a personal inspection of the property that is the subject of this report. The amount and type of information researched and the analysis applied in this assignment conforms with the expectations of participants in this market for the same or similar appraisal services and is what the appraiser's peers' actions would be in performing the same or a similar assignment in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) except as noted below: A p p~r~ r's S,gn~l~re '~ Dat~igned '¢'~ /~ ~ 0 ;2-, Supervisory Appraiser's Signature (only i/required) Date signed FW-SUPCERT 7-99 FORMS & WORMS ..~o~*r~ 1-800-243-4545 ITEM#239130 RESIDENTIAL APPRAISAL REPORT Property Location: 202 North High Street Newburg, Pa. 17240 HomeowneCBorrowerName: Eugene p. Gardner & Virginia M. Executor - of - Estate_Donald Gardne Prepared for: Same Prepared by · Roy R. Monn, Jr. 221 E. King Street Shippensburg, Pa. GA-OOO-688L 17257 Date: 4/10/02 File Number: 000-010 BLAKEWOOD BUSINESS FORMS, INC. 1 ($00)443-1004 Addmss Re~ UNIFORM RESIDENTIAL APP~I~L REPORT ~. om 202 Nodh High Sir~t ~ ~ ~- ~172~ s Par~t ~o. 24-21433SG-O27 Cumberland Tax "/e~r 2002 R.E. Ta~es $ erie P. Gardner ~ Currant Ow,"er E~tate ~ -- ~ PUD ' ~ ~HUDNA or~hf) HCA $ .~_..~p_Rderence 24-21q339(NO27 C~nsL~ Tra~ 131 Address 26 Hassi ,nger Road, Ne,,~bu~,, Pa 17240 Address 221 East Kir~l, Streetr Shipponsbu~t Pa. 17257 J ~Ow~ [30,000. Low 3 t24family 4 J J~Tena~l ~175~O00. Hiqh 160. JMulli-f3mily 1 tTo: ! :.. i Vac.(over $%i t 80,000. 80 J olt~rs 22 ~i~borhoed boundar~ and cha.racteds~c~: Borough of Newbu~, castors that affect ~he marketability of ~e propedies ;n the ~eighbcrixJod (prc~imi~ to empioTmenf and amenities, emptoyme~ stabi~, appeal b marl~ etc,): Leasehold Bom~ E.xecutcr Dona~d~,.~ Gardner -1Dota~er Ro.~y R. Mcnn Jr. Loca~n ~ U~an ~ Su0.'urban ~ Rural Bu~ ~Jp ~ Over 75% ~ 25-75% ~ Ur~L,'r 25% ~mar~'suppty ~ Shor'~ge ~ In balance ~ Over supp~ Under 3 rnus. ~ 3-6 mos. ~ Over 6 ..T~S Location is convenient to Fire House and close to shopping, employment, and Shippensbuq:I University as well Pa. Turnpike,. This is an older type property and has historic value. Mad,.m conditions in the subject neiGhbca'hood ,rmcluding sup~rt for the abave conclusions ,'elated to the trend of propedy values, demand/supply, and marlefing time -- such as data on compet~e prd:)l:~'lk~ ~r sale in ~he ~ighborhood, description of the prevaienc~ 0~ sa~ and finanC~ ~'~ssior~, ac.): Two new developments in tho Borou,q, h wh ch are in their last sta~e will support a ~ood ,qrowth rate as well as a value. steady in this area that could be considered as Iypiical far this area except maybe owner financing.; l~e~t ~'~'~'~'~ f~' PU0s (If app[cabie) - - ts ~ developer~ui~r in corfa'ot of the Home 0wna-s, Associatm (H~)? ~__~ Yes ~No Apprc~mate ,'~1 number of units in the subject project common ~ and recreat~nul faciiit~s: i~l'ensions 92 x 169 =15,548 s.f. or .357 ac. Site area .35 ac. Corner Lal ~ Yes ~ __ ~ No Specific zoning classification and dasci'ipl~on Residential Zoning compliance ~-~ ~ Legal ~ Legal nonconforming (Gra~lathered use) ,~j Illegal ~ Nozonmg Apmte to'Iai number of ur~ ~r sale in the subject project Topography level Size .357 ac. St,ape rectanflular Drainage geed ~ Other use {explain} :Yz~w typical Lllili~e~ Public Otf~ J 0fflitek~lXOeemerb Type ~l~ ~a~ ~pi~ A~GE E~ ~ J S~ ma~dam ~ ~ ~y ~ ~ck-top S~ ~ J C~/g~ ,~c~te ~ ~ A~mm ~ ~ o~ '~r ~ ~1 J S~a~ ~ncrete ~ ~ ~ ~1 ~ ~a~ A~ ~ Y~ ~ No ~ ~r ~ J Stat f~ ~ ~ ~ Z~ Map Da~ ~ ~ (ap~m~ a~e~ ~se~, ~c~, s~l a~5.~,~, s~ ~s, ~ ~ ~1 ~o~ zo~ ~, ~.): T~re is a n~ d~ ~t o~e any ~ ~men~ or e~hihen~ on ~ ~e t~t ~11 a~l this ~lue. ~NE~L DE~RI~N ~R~R ~SCRi~N J ~U~A~ I~ ~u~ m .......... ....... ~ ~ ~u~ ~oce and bilk S~b JA~ ~ ~ 432 JR~ ~ ~Y~ (~'A~) det. ~ Suda~ ~ -- ~ ~ t2 .. I '~ ~ ~P~ssd exit nfl W~ T~ ~~ ~ "' I t'~' -- ~ i ~ ~T~.) l~s ~'~m yes ~ ~ ~ ~_~ ~ ~'~ ~ -- ~ I ~~.) ~ -- t~a~r ............ J :~ JU~ ~ J ~ ~" ~ ~.Rm. ~ ,~ La ~r Ama .~ i~ER~ Ma~fia~C~ ~ __~ 1 ~~~m~G~s L~in A~ JTy~ H.A. Ref~r ~ j~ FK~rs ..¢,arpet 'Hails paneled [ Fuel oil Trim, Finish stock Condition 8a~h R0or lino. ICOOLiNG none Batfl Wainscot tile d~.I Doom hollow-core JCondifion Add,anal features ispeciat effigy efficient items, ac.): front po AMENITES CAR STOPAGE: ~arage # of cars Attached Oetache:i 2 CAR B~iJt-in CarpoR Driveway BLACK TO Condition of b~e improveme~, depmcia6on (physical. functional, and ~ ~ ), repairs needed, qua~j of comt~i~q, mmo~l~D'add~:a'~, ac.: Unil is used as ~ No shower in Adverse e~vironrnenfal conditions (such as. but ne{ lim~ed to, hezar-Jous wastes, to~c substances, ac.) present in lhe improvernen~, o~ the sile. ~ in the in~nsdlate vicinffy of ,'he subject properly.:Did not ~vironmenlal cond'dion that weuld hove an adverse afl'ecl on this value on this :mddie Mac ,Corm 70 6/93 PAGE 1 OF2 Fannie Mae Form 1004 6/~'3 UNIFORM RESIDENTIAL APPRAISAL REPORT ESTiMA ~'P~D S,~ VAUjE 15 548 s.f. ~ 1 25 = $ 19,435 .=$~MATE~) RE?RCOIJCT CN CO~T*NEW-CF 'MPRCVENE~: Dwei, li~ 1,108 S~ Fi. @$ 58.o~ = $ 66,029 432 Sq. Ft. @$ 6.OO = 2,592 oorchas 144s.f. {~ 12.00 = 1,728. ~ara~'Carpart 418 Sq. FL @$ 15.01 = 6,274 ToIal Estimal~ Cost New = $ 75,6'23 L~s Physical FundJonal E~m~J }eprec~ation 37,812[ 4,5371 =$ 42.349 Oepre~iated Value of improverner~ =$ 33~274 'As-is' Value of S~ Improvemenis =$ 4,500 NDICATED VALUE BY COST APl)ROACH ..... $ 57.209 iTEM I SUBJECT COMPARABLE NO. t 202 North Hiqh Street 101 West Main Street Address Newburq Newbur,q i 2.5 ~,~ ~b.~ ,~ $ $ 37.16 ~-I $ 41.07 Data and/or ?edficafio.q Source inspection t Multi-list Se~ice inspection m V'LUE ADJUSTME~ l DE~R~ION t DESCRIPTION +(-.), Ad~ DESCRIPTION mSates or F~ncing m C, oncessions [ { conv. cony. · Date of Sak,/'Urr,~ { 12-15-98 05-18-01 · Loca~u. I urban urban urban · L~sshold/T-ee Simple fee simple fee simple fee simple · $~ ~ .35 ac. I .13ac. +1,217 .18 ac. · ,3es~ ar4 Appeal { 2-S 2-S 2-S ! Ouaii'~ of Co~on { Alum. j Brick -1,250 Vinyl I 1800's 1800's 1820 Cond~on fair fair aver-a~e, Abo~eGrade Toial;Bdrms Baths Total Bdrmsl Baths TolallBdrms Bath~: Room Count 6 : 2 i 1 I 6 : 3 : I : 8 : 4 ! 1.5 Sasement & F~shed 432 ~artial full Below Grade none none none ave,rage avera,qe average H.A. No H.A. No HW. No ' Efficm~t 2-car none +2,00( 1-car in bm't ~rch, Patio, Deck x~rches )orches P0oL etc. }F{e No. uuuuuuOOD. 010} Paqe '~ Rle ,~. uuuuuuO00,010 Commer~ on Cost App4~a:h (such as. sa~rc~ of cast m~nat~, site square ~ catculaft~n and for HUD. VA and, ,CmH~, COMP..~SLE NO. 2 (no address) 104 East Main Street +1,217 -11~100. -5,500. +11(~. COMP{PABLE NO. 3 105 Fire House Road Newbuq:t 1 -block Is 53.~o. $ 44.14 "~l court-house typical 2-S Alum. 1890 OESCR'.~ON +(-}$ AdN,~ fee simple 1.01ac. ' -3,500 Fair Total iBdrms Balls. 6 ! 2i 1 : 1,212 Sq. FL: partial : noRe i H.W. no ~+ ~-iS 4,783 ~+ ~-i$ 18,133 Adjusted Sales Pr~e Net &3 %{ :: Net 23.9 % Gross i9.4 %l$ 53.117 Gmss :29.7 % $ 57.76~ CO,~,~;~ on Sales Comparison (Jnck~ing ~e subject ~1s ~ ~ ~ ~ ~.}: ~l three sales are from Nevvbu~, and are older Sale~ 3 is an oider sale but has the laas~ adiusiments. Sale ii 2 is better than subje~l due to size and condition and been ,i~,, + ~$ 5,980 ~ Net J Gross 13:2% $ 48,420 rei~,,.~eled with an addition, shows top ','alue. Sale # 3 is the most cmTent sale and therei'ore the most like subject. iTeM SUBdECT {COMPARABLE NO. 1 _COMPARABLE NO. 2 ~te, Price and Data no prior sale within 1 Y~ n~ paler sale with n 1 yr. COMPARABLE NO. 3 { Source, for pnor sakes no p..ier sale ilo ~er sale within 1 Analysis of any current agreement of ~ale, oplion, or iist)ng of subject pfopady and analysis of any p~x san of subj~t and cQmparables within om year of Ibe pale of appraisal rented at this time. NDk?ATED VALUE BY SA LES COMPARISON APPROACH .................................................................................... $ 48,400 iNDICATED VALUE BY )~:~4EAPPROACH ~i~ Applicable) Estimab~l Market Rent $ 260 ,'Mo. x Gross Rent M,d~r~r 11~ = $ :~7,~)0 ~'~is a pp ra~,aJ is made ~ 'as is' ~"~ subject to ~e feints, al~'a6ons, ~s pe~ions or condi6om ,~d' below ~_J subject ~o c~mple~n per plans & specifica~ons. C. ondi~ns of ~ppraisal: .Appraisal as is Frei Reconc~'ation: Emphasis is placed on the market data approach in order to show what the buyers are wil ing to Pey for this type of All information was considered in this appraisal and these are the most current sales available. purpose of this appraisal is to ee~na~e the market value o~ the ~eal property ~hat is ~ subject ~ ~ relx~t, based on the at,3ve con(~ons a~ ~e ce~ication, continent ~nd lining cond~ons, and marke{ value defin~on (hat are s~ated in bhe at~ched Freddie Mac Form 439~l:NMA fon.n 10048 (R~vised 6-93 I (WE) E~rMATE THE MAREET VALUE, AS DEFNED, OF THE REAL PROPERTY THAT {S THE SUBJECI' OF THIS RE.mORT, A~ OF 04-10-02 (WHICH ~ 'THE DATE OF INSPECT~N AND THE EFFECTWE DATE OF THIS REI~RT) TO BE $ 48,400. APPRABER: __ ~ - SUPE~ISORTAPPRA~ER (ONLY F REG~ flame ffoy R. Monn ,J~, ~ ' {- - //' ~e . Imt~:t Propan'~ G A 000688 L State P.a. Or S~afe L~nse # Stal~ R~die Mac ~ 70 6/93 PAGE 2 OF2 Farmle Mae Form 1004 6-93 Fo~n UA2 -- 'TOTAL for Windows' apl~aisaJ software by a k mode, inc. -- ~ MAPSKETCH ADDENDUM _Newhur~ ,-,: ,-":? Cumberland ?:'e Pa. Executor of Estate - Donald Gardner 17240 BUILDING SKETCH 4037~ SUBJECT ~-;=,0 PERT Y SUBJECT STREET SCENE -' ADDITIONAL PHOTOGRAPHS ON P, EV~RSE SIDE PHOTOGRAPH ADDENDUM Eugene P. Gardner ~/hr~ia t~_~. E~.~E 202 N. High Str~. Newbur~ ~ :;~t- Cum%~ ~nd Es~ate~e~u%or - Dnn~!d G~rdner 724121 ~ COMPA;RABL5 SALE #! COMPARABLE SALE #2 ADDITIONAL PHOTOGRAPHS ON REVERSE SIDE COMPARA.~LE SALE #3 item DEFINITION OF MARl(ET VALUE: The most pr~bte price w~ch a property shoutd ~ng in a ca~ef~e ~ open ,'narkef ~er requis,~e fo a fair sae. ~e ~ ~ s~. e~h ~ng ~d~y, ~l~ ~ ~ ~ ~Ce ~s ~ ~ by ~ ~s. ~pJc~ manatee; (2) ~ ~ ~ ~ i~o~ ~ w~l ~, ~ e~M ~ in ~ ~ ~ ~s ~ ~ ~ (3) a ~on~le ~e is ~t~ed for e~osure ~n ~e open ~ (4) ~ is ~e in t~s ~ c~ in U.S. ~ ~ ~ t~ ~ ~ ~s ~le ~r~o; ~d (~ ~e ~ce * Adjustments to U'~ co--les must be made for s~'c~aJ of oreatJve fina~ o~ sales ca~asaons. No adj~-tments are necessary for those costs which a~e tie'really paid by seilers as a result of ~ditton or law in a market a-ua; these costs are readil,t idem~a~le ~ce the seller pa~ these costs in virtually ail saes ~'a~saot~ons. Special or cmat~'e finar~3n9 adiuatznents can be made to the comparable property by cnrrkoadsofl5 to financing tem~ offered by a third paty instffutN~ ~ that Js not ~ready invoked in the prope~ or trmsac~no. ~ny adjustment shouJd not be calct~ated ~fl a n~:har~cal dctlar ~ dollar c~st of the ~n9 or concession but ~e dollar a~',,ount of any adiustment shocdd approximate U?e marke~s r~ h) the fil'l~glc~q or concessiolls basep on U',e apPr~ser's ~gerneflt. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraser's certtficaUon that appears in ~ ~or~sai rmod is steject to the fcifow~ng con(C'tJons: 1. The adoraiser will not be rasponsible f~' matters of a legal nature that affect Mher the Ix~oert7 being aPlxased or the He to ~. The appraiser assumes the lJUe is good and rna,'~table md. therefore, will not render a~y oP~mons about the He. ~ pmpe~/ is appr&sed no ~ basis of it Lng under responsible ownem~p. 2. The appraiser has provided a sketch in the apprasai report to show approximate ~rm~e~sinos d the im~ amd the sketch is included only to assist the rceder of ~e report in visuadi,~ng the property and understandf~ ~e aPgrase~s detemmna~m of its ~ze. 3. ~ appraser has examined the available flood maps that am prmided by the Federal En'erge~c7 Mar~ Agency (~ othu data sources) and bas noted in the appraisa repo~ whether ~ su~jeof site is located in an h~ntffied Special Rood Haza'd ~ ~ the appraiser is ret a su~eyor, he or st~ maJ~es no guaramees, express or implied, regarding this deten'ninati~q. 4, The appraJser will not ~ te~mony or appeer in coal because ~ or s~e made an ~ of the lxobedy in questi~, untess spech3c anangemeots to do so have been made beforehand. 5. The appraiser has esUmated the value of the land in the cost approach at its higt,ast ar~ best usa and the ~ at their com~butory vatue. These separate valuations of the land and improvements must not be used in conjum~m wi~ any other apprasel a~l are imalid if ~ are so used. 6. The appraiser has nofed in the appraisal report any adverse nonGrtions (such as, needed repars, dapmdatJo~ the presence of haza'do~s wastes, t~c sui3s'mnces, etc.) observed d~ng t~ ~3spectfon of the st,eject prop~ a' b'~ be or she became aware of duf~J the nom~ researcfl involved in pedomng ~ appraisal. Unless o~ne[~se stated in the a~rasai re~ort, the ~¢raiser has no lmowledge of ~ bidden or una~arent co~rdJa~ of ~e l;~'opert¥ or adverse mWimnmentai condilJons (including the presence of haz'w~J~s wastes, to:m: subslances, otc.) tt~ woc~l make ~ propely mine or [ess v'~uable, and has assarned that there are no such oon~ons and rn~es no goamtees or w~, exp~ss or ~ re~rdi~ the c'~x~tion of ~ properly. The appraiser will not be reslx~ns[ble fo~ any such condiUons that do exist or ~ ar~y e~noenn9 or testing ~ migt~t be re. red to ~scnver whether such cond~a~s exist. Because the appeaser is not an expert in b%e f~ld of err~om~ hazards, the apprasal report rm~st not be considered as an emirom'er~ assessment of ~ properly. 7. The appraiser obtained the intmmaJon, estimates, and opinms fha we~ ~ m the appraisa repo~ from saxces ~ he or she c~nsidms to be raiia~e md balieves them to be tree a~l c~'recL The appraser does net m restxmsibifi~ for the acctracy of such items that were Ii~nisbed by other parUes. 8. The appraiser will not disclose ~e contents of the apprai~ repot except as I;x~aded fa- in the U~form Sla~ads of R'ofessionai Apprasai Rac~ce. 9. The appraiser has based his or her app~saJ rep~ and valu~Uon cortdusio~ ~ an appraisal that is subject to seUsfaotory compleUon, repairs, or ater~ons on ~e assumption that completion of the improvements will be perfom'ed in a wodmlanii~ mariner. 10. The appraiser must provide his or her prior wntten consent before tbe lender/di~t spoc~ed in the aplxasal report can disl]~bute the appraisaJ report (inctuding conclusions about the property vaiue, the apPraser's identit'/ a~ pmfessimal designdi~ons, and mfereflces to ar~ pmfessiopzl appralsa organizations or the firm with which the appraiser is associated) to anyone off,er thon ~e benowec the rnodgagee or its successors and assigns; the mortgage insuta;,, consultants; professional app~sai organizations; a~/ state or feder"-dly approved finax:iai ins~utto~: or any def~tment, apency, or ip~'lTu~nentai~ of ~he Uflited States o~ any state or the District of Cdiumbia; except lhat ~ lefld~ent may crk~lTibute the p~op~fl~ descdplton sec~on of the report only to data collection or reporting se~ce(s) without having to obtain the a~qx'~se~'s ~or w~ten come~t The aR;~iser's ~ consmd and approva~ ~t aJso be obtained before the apprdisal can be conveyed by anyone to the ~ ttm~u~fl advml~sin(j, ~ relations, r~, saJes, o~ other me,Sa. Freddie Mac Form 439 6-93 Page Iof 2 ............ y.or~'~.~., s~,~, ~?n~. -~ .~. Fame Mae Form 10048 6-93 APPRAISER'S CERTIFICATION: T~ Ap0r~ ca'~,es a~ ~ ~ 1. I ~'e resea~med the s~bjeof market wes and ha~e setected a f~ co~i~ in ~e s~es ~ ~ysis md ~e made ~ ad~ed s~es price ~ ~ ~e ~d, ~ a si~ ~ 2. I have ~aken into cor~deratton b~e favors that have an impact on value in my de~eloprm~ of the ese'hate of rna'let value in ~ aPPrmsal reporL I have not Imowthgiy w~th, held any si~iflcant inf~oll kom ~he apprasal report a~l I bali.,e, to the be~'t of my knowledge, that ail sta~ m~l ~ormation in the and lim~in~ cond~dor~ specified in tY~s form. respect to the pa~cipams in the b~on. I did not base, e~er pa"da~ or completely, my an~y~s af~or the esth'mlte of market value in the appraisal report on the race, color, religion, sex, ha~cap, familial status, or nat~r& ~gin of eitbe~ the p~0ecthre ownms or occupants of the subject F-operty or of the ~'esent owrers or occupams of the prop~es in b~e vicinity of the subject property. 5. i have no present er ~ated ~ interest in the subieot ixopmty, and neither my c~rent or fof~e employment nor my c~'4~nsaton for pedOm~n9 ins atprasa is co~ngent on t~e apprased ~ue of the pr(3:~erty 6. I was not required to report a predetermined value or dtrecUon in value ~ lava's ~,e cause of ~ client or any related party, the ameont of the vaJ~e e~mate, ~ affalnment of a specific re. suit. or the occ~ence of a subsequent event in ~ to recewe n~' componsabon and/er emptoymer~ for peri,ming ~ appraisal. I did not base the appraisal report on a requested minim~n valuation, a specie valua~on, er the ~ to apl~Ve a ~ nx~age loan. Standam~ 8oard of The Apprmsat Foor~dation a~d that were in place as of ~ effactive date of ~s apc~sal, with b~e excepUon of tim depml~re p~'ovisio~ of b'~se Standards, which does not alii'/. I ac~led§e that a~ estimate of a rea~e Un'e for eCos~e in the ~ rr~ is a c~on in the defir~don of market value arid the estimate I developed is consistent with the ma~n9 time noted in the neig~ sec~ of ~ras ~ unless I have otfierwise stated in the recor~iaton section. 8. I tiave l~sonall¥ inspected U~e inte~or and exledor areas of Itm subject propen'y and ~ extra,or of ~1 pmperlJes ~ as cor~par~es in the appr~s~ repo~. I further certity that I have noted amy at~ or Imown adverse oa'~¥dons in the subject improvaments, m the subject site, or on any site within the immediate vicinity of the subject propert'/of which I am aware and have made at[us~ for these adve~e conditions i~ my alwi'/sis of the pmpmty value to ~ extent that I ha~ market evidence to ~ ~ I have a~so commented a~bout the effect ~ the adve's~ cor~rdo~ on the rnarketa~l~y of ~ st~ject property. 9. I personally prepa'ed all co~c,'usions and opinions about the mai estate that wwe set tm~ in the app~sat repel ff I retied on significa~ professionai assistance h'om any indMduat or in~s in the performance of ~ app~sal or the pre~ of the ap~ relx~. I have nam~ such individual(s) ~ discto.~d the spe~c tasks I~d b~ them in the reconciliation section of Uds a~ ~ I ceMff~ that any in~viduat sa ha'ned is qualified to pedo~ the tasks. I have riot authorized anyone to mak~ a cha~ge to any ~em in b'~ repo~ tt~ore, if an una~ ct~ is made to the ap~sat report, I will take no reepm~bility for ~. SUPERVISORY APPRAISER'S CERTIFICATION: if ,~ ~ ,,~.~,~r ~igmd ~ am-asa rqx~ h~ ar she cettriss and agre~ that agree to be bound by the app~iser's ce~c~ons nufTd~ered 4 ifwou~ 7 above, af~ am tdidog f~ res~y for the app~sal ~d the appraisal report. ADDRESS OF PROPERTY APPRAISED: 2o2 North High Street. Newt:)urg, Pa. 17240 APPRAISER: · ~... ~,'~! Name: Roy R. ~4or~. O~ $~: 0~02 S~e C~c~on ~ ~ ~ U~e ~: S~: Pa. Expiraion Date of Cer~c~on or Uc~se: SUPERVISORY J~PPRAISER (onl~ if required): R'eddie Mac Form 439 6-93 Page 2of 2 Form ACR -- "TOTAL for Windows" appraisal s~tware by a la mode, inc -- I*800-*ALAUOOE Fame Mae Form 1004B 6-93 SUPPLEMENTAL INFORMATION AND APPRAISER'S CERTIFICATION This is a X .appraisal. This is a appraisal report. The client(s) for whom this appraisal is made is (are): Euqene P. Gardner g Vir~inla .~I. Estate The intended use(s) of the appraiser's opinions and conclusions is (are): Estate ?urposes The intended user(s) of the appraiser's opinions and conclusions is (,are): In my opinion the reasonable exposure time linked to the value opinion is: 3 to 6 months The following additional information is supplied to support the highest and best use conclusions: Additionally I (we) certify that. to the best of my (our) knowledge and belief: X - the statements of fact contained in this report are true and correct. X ' the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. X - I have no (or the specified) present or prospective interest in the property that is the subject of this report. and no (or the specified) personal interest with respect to the parties involved. X _ I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. X - my engagement in this assignment was not contingent upon developing or reporting predetermined results. X - my compensation for completing this assiodument is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the mount of the value opinion, the attainment ora stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. X - my analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. X -The appraiser(s) X have ~ have not made a personal inspection of the property that is the subject of this report. -The supervisory appraiser (s) __ have __ have not made a personal inspection of the property that is the subject of this report. The amount and type of information researched and the analysis applied in this assignment conforms with the expectations of participants in this market for the same or similar appraisal services and is what the appraiser's seers' actions would be in performing the same or a similar assignment in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) except as noted below: A~r~ssi~ Sigr~ature~ ,,~ 7 Date 04=ned ~'- [~'. O .~L. Supervisory Appraiser's Signature (only if required) Date signed FW-SUPCERT 7-99 FORMS & WORMS n.~0~9, 1-800-243-4545 ITEM#23913, AUG-06-2002 16: 35 ACCT: $97-19616 EUGENE GARDNER DCSD Z04 N HIGH ST P O BOX 11 NEW~URG PA 17240 PAY CSH SETB SETD FF: N ~RV TR: SEC # 94SK9 C 97E09 C 97KU9 C 973R9 C MERRILL LYNCH CUSTOM~R ACCOUNT ASSETS SS#: 183-12-4762 POS/PGS: UNPRC 12/01 MCS~ I~TC 132.45 132.45C SMA 132.45C 3/01/02 T~ UPDATE: N 01/--/99 ~9,034 38,349 SEC S~OL .... DESCRIPTION 94SK9 ~ ~IN~~A~E ~LOX ~ ~ ~LO~TION ~USX .... L~ ~BE~ U.S. TS~X jO~ ~COCK HIGH 717 263 2778 14:28 03/04~O~ (717}423-5419 FC: 4435 4/ 02 ACCT TYPE: CMA 0 T-UAL 39,523.10 .00 RAFND .00 .00 STFND .00 .00 C-MI~Y .00 0 C-OTH 9,535.00 .00 RCORT .00 I/ANU .00 .00 MFA .00 38,712 - QUANTITY - CURE PX -- VALUE 9,$35 1.0000 9,535 662.0130 12.8900 1,813 ~.~900 4,695 3,567.9500 4.6600 16.626 P. 02 ~END> TOTAL P.02 AUG-06-2002 16:34 MERRILL LYNCH Merrill Lynch 1108 Kennebec Drive, Chambersburg, PA 17201 719 2??8 P.01 Date: TO.,. At: Phone Number: Fax Number: FROM. o. At: Phone Number: Fax Number: # of pages to follow: Message: _ -. ~ (In'c'ludin~ cover page) NOTE: THE INFORMATION CONTAINED IN THIS FACSIMILE TRANSMISSION IS CONFIDENTIAL I1NTEi~DED ONLY FOR ~ USE OF TI~ ADD~ IF THE READER OF Ti~S COMMUNICATION NOT THE INTENDED RECIPIENT. YOU ARE HEREBY OTIFIED THAT ANY RETENTION, DISSEMINATION, DISTRIUTION COPYING OR OTHER USE OF THR FACSIMILE I$ STRICTLY PROHIBITED. IF YOU RECEI~ THIS FACSIMILE IN F. RI~OR. PLEASE IMMEDIATELy NOTIFY US BY TELI~flONE AND RETURN THE ORIGINAL TBANSMISSION TO US AT THE ADDRESS ABOVE VIA THE UNITED STATES POSTAL SERV~CF_ ' Fahnestock & Co. lnc, 1015 Mumma Road Wormleysburg, PA 17043 (717) 763-8200 (800) 722-2294 (717) 763-1765 FAX Members of All Principal Exchanges FAHNEc TOCK ESTABLISHED 1881 February 27, 2002 H. Anthony Adams, Esquire 128 E. King Street Suite A Shippensburg, Pa. 17257 RE: Estate of Eugene P. Gardner Dear Mr. Adams: Account A09-0002609-1-127 was in the name of Eugene P. & Virginia M. Gardner JT WROS. January 27, 2002, the market values were: Prime Cash Money Market Fleet Capital Trust VI 8.8% TOPRS due 6-30-30 MM/dsd As of $ 27,160 Sincerely, $ 2,650 Marc Moonin Vice President - Financial Services Fahnestock & Co. Inc. 1015 Mumma Road Wormleysburg, PA 17043 (717) 763-8200 (800) 722-2294 (717) 763-I765 FAX Members of All Principal Exchanges FAHN£cSTOCK ESTABLISHED 1881 Services Provided by Marc Moonin · Provide an analysis of your financial condition, goals and needs · Review your current investments, insurance, retirement benefits and estate plan · Determine what your income needs will be during retirement and prepare a plan to meet them · Make recommendations to lower your income and estate taxes · Provide an asset allocation strategy to minimize risk · Ongoing monitoring and evaluation of your financial plan · Meet regularly with you to evaluate progress toward your goals · Manage your investments and answer your questions · Stay in touch with you through regular calls and reports · Provide research and education to you and your spouse · Address your special needs, such as children's education · Implement changes in your investments as the economy or your needs change · Help you build wealth through retirement plans and look for investment opportunities Fahnestock & Co. Inc. 1015 Mumma Road Wormleysburg, PA 17043 (717) 763-8200 (800) 722-2294 (717) 763-1765 FAX Members of All Principal Exchanges FAHNEc TOCK Professional Background of Marc Moonin ESTABLISHED 1881 Vice President of Investments · Fahnestock & Co., Inc. from 1992 to the present Certified Public Accountant---Audited corporations, partnerships, and municipalities. Prepared tax returns for individuals, corporations, and partnerships. I maintain my state license through continuing education courses. · KPMG Peat Marwick from 1967 to 1969 · Katz, Wagner & Company from 1965 to 1967 Certified Financial Planner--Since 1989 Municipal Bond Experience---Prepared and/or reviewed municipal bond official statements and bond indentures. Developed investment policies to maximize income and supervised investments. · Director of Finance for Pennsylvania Housing Finance Agency from 1973 to 1989 · Assistant Finance Administrator of the Illinois Housing Development Authority from 1971 to !973 Corporate Experience · Assistant to the Financial Vice President of U.S. Industries, Inc. from 1969 to 1971 Education · University of Illinois---Bachelor of Science in Accounting in 1965. · Numerous additional courses were taken in personal financial planning, investments, taxes, estates, trusts, and retirement plans. Community Activities · Member of the Kiwanis Club of Harrisburg and other non-profit organizations pREFERRED Page 1 of 2 Account Statement t_egg Meson Wood W~lker, Incorporeted ..<2L'.BE:: 31, 20,32 LAST ST?-.TE.- EXT A b'PP OX I :-bXT E VALUE CASH BALANCE STr~.RY OPENING BALANCE CLOSING BALAiICE INCOME ATTIViTY DATE TRflJSACTION 12/14 iNTEREST EUGENE P GARPHER ViRGiNiA M GARi~HER }21 N %iiGH STREET NEWBURG PA 17240 OTHER !HCOME CREDIT INTEREST INTEREST TOTAL iNCOME (iAS H 6, 170. 19 6, 210. 88 O AHT!Tv INTEREST I 360-023:98 THIS MONTH 7.81 32.88 40.69 YEAR TO DATE 80.48 1,570.07 1,650.55 650. 55 DESCRIPTIOH BANK HAPOALiM B M NEW YORK C/D FEDL INSD TO l(i0H ACT/365 CALLABLE DUE 02/14/2015 8.[)0~ BEG [MT ON 5000 BND RES 11/29/01 PAY 12/14/01 iNTEREST ON CREDIT BALANCE AT 1.590% Ii/30 THRU 12~28 $32.88 7.81 STATEMENT CONT!NUEE ON REVERSE SIDE SEE ENCLOSED BROKERAGE ACCOUNT STATEMENT DISCLOSURE FOR !MPORT~NT iNFORNU~TION http://leggworks2: 7777/coldpack/statements/getDoclD.asp J~ ~2/22/02 Page 2 of 2 Account Statement Legg Mason Wood Walker, Incorporated 5,000 DESCRIPTION PROVIDi~N NATL BK TILTON NEW Ht~qPSHiRE C/D FEDL INSD TO 190M ACT/~65 DATED DATE 0}/2}/01 DUE 05/23/2006 5.150% MN 23 BANK HAPOALIM B M NEW YORK C/D FEDL INSD TO i00M ACT/165 CALLP~LE DATED DATE 02/14/00 PAR CALl, 0~/14/2014 [~UE 02/14/2015 8.000% CALL 02/14/02 100.000 MAPKET VALUE OF CERTIFICATES OF DEPOSIT I (}0.0% OF PORTFOLIO PRICE MARKET VALUE [NCOME YIELD 101.645 $ ,,329.00 Si, 150.00 5.6% I00.59 5, a25.09 4(JO.O0 7.9% iNVESTMENT OBJECTIVES iNVESTMENT QBJECTI~rES FOR YOriR ACCOUNT ARE SHOWN BELOW. CHANGE THEM, PLEASE CONTACT YOUR FINANCIAL ADVISOR. 1. iNCOME 2. PRESERVATION OF CAPITAL 6.1% TENANCY INSTRUCTIONS JOINT TENANTS WITH RIGHTS OF SURVIVORSHIP. DELIVERY INSTRUCTIONS SECURITIES IN YOUR ACCOUNT WILL BE HELD BY LEGG MutSON EOB YOUR BENEFIT. CASH BALANCES WiLL BE HELD iN YOUR ACCOUNT. 4. TAX FAVORED IMPORTANT REGNLATORY MESSAGE: LEGG MASON WOOD WALKER, INCORPORATED (LMWW! IS SUBJECT TO THE REQUIREMENTS OF RULE 15C3~1 P~iD THE RULES OF THE SECURITIES EXCHANGES OF WHICH IT IS A MEMBER. LMFWW HAS ELECTED TO USE THE ALTERNATIVE METHOD OF COMPUTING }lET CAPITAL PERMITTED BY RNLE !':C3-I, WHICH REQUIRES THAT iT PU%INTAIN MINIMUM NET CAPITAL OF TWO PERCENT OF AGGREGATE DEBITS, AS DEFINED. NEW YORK STOCK EXCH~4GE RULES STIPULATE THAT A MEMBER ORGANIZATION bi~.y NO".' EXP~'ID ITS BUSINESS, EQUITY CAPITAL MAY NOT BE WITHDRAWN, NOR M~RY CASH DIVIDENDS BE PAID iF RES-.ILTiN~G NET CAPITAL WOULD FALL BELOW SPECIFIED LEVELS. AT NOVEMBER 30, 200[, LMWW HAD NET CAPITAL, AS DEFINED, OF $291,04~,000, WHICH EXCEEDED THE REQUIRED NET CAPITAL OF S20, ~45,000. A COPY O~ LMWW'S CONSOLIDATED STATEMENT OF FINANCIAL CONDITION }t~Y BE OBTAINED AT NO COST, BY ACCESSING OUR WEBSITE AT WWW.LEGGM~SON.COM OR BY CALLING ~S TOLL-FREE 1-.°77-534-4627. .............................. END OB STATE}.*EIqT FOR ACCOUNT 360-02389 .......... http ://leggworks2: 7777/coldpack/statements/getDoclD .asp 2/22/02 PSEC the financial link Februaw 25, 2002 Account # 0183124762 H ANTHONY ADAMS 128 EAST KING ST STE A SHIPPENSBURG, PA 17257 Dear MR ADAMS: The following is the status of EUGENE P GARDNER's account with PSECU as of the date of death. Joint Owner's Name Date Established Date of Death Date of Birth VIRGINIA GARDNER, JOINT TENANT W/ROS 02.03.1987 01.27.2002 04.18.1922 Share(s) Regular Shares (SI) Checking Shares (S4) 60 Month Certificate-3 (S52) 60 Month Certificate-4 (S53) Balance Accrued Dividend $ 8,542.82 $13.57 2,432.74 2.65 20,000.00 89.04 13,000.00 50.93 Loan(s) Balance Accrued Interest Personal Service Loan (LI) $ 0.00 $ 0.00 VISA (L9) 0.00 0.00 The dividend earned from January 1, 2002 through the date of death was $156.19. We do not have safe deposit boxes for our members. If you have any questions, please call 234-8484 in Harrisburg or our toll- free number, (800) 237-7328. At the menu prompt, enter 6 and then extension 2227. Sincerely, Meacie ~ai~ax Member Service Representati¥¢ Finance Support Unit PENNSYLVANIA STATE EMPLOYEES CREDIT UNION Main Address: 1 Credit Union Place, Harrisburg, PA 17110-2990 · (717) 234-8484 - (800) 237-7328 Mailing Address: P.O. Box 67013, Harrisburg, PA 17106-7013 · (717) 777-2100 (TDD) - (800) 472-1967 (TDD) IIIIIII I Web Address: www. Dsecu.com Savings federally insured up to $100,000 by the National Credit Union Administration allfirst February28,2002 Law Office of H. Anthony Adams 128 East King Street, Suite A Shippensburg, PA 17257 :\tlfirst Fit~ancial ( enter X.:\. Dear Mr. Adams: Estate of Eugene P. Gardner Date of Death: January 27, 2002 Social Security Number: 183-12-4762 In response to your request, please be adx4sed that at the time of dearth, the above- named decedent had on deposit with this bank the following accounts. Account Type ........................... Direct Deposit Checking Account Account Number. ...................... 0097250031 Ownership (Names oJ) ............... Eugene P. Gardner or Virginia M. Gardner Opening Date ........................... 01 / 28 / 80 Balance on Date of Deatlz .......... $ 4,471.67 Accrued Interest ....................... 00.00 Total ...................................... $ 4,471.67 Account Type ........................... IRA Account/60 MOS/4.810000 Account Number. ...................... 87000105006002 Ownership (Names of) ............... Eugene P. Gardner Opening Date ........................... 08/09/84 Closed ..... 02/15/02 Balance on Date of Deattz .......... $ 3,890.52 Accrued Interest. ...................... 115.84 Total ...................................... $ 4,006.36 Page 2 Account Type ........................... IRA Account/60 MOS/5.870000 Account Number. ...................... 87000105006003 Ownership (Names oj~ ............... Eugene P. Gardner Opening Date ........................... 02/14/85 Closed 02/15/02 Balance on Date of Death. .......... $ 7,090.67 Accrued Interest. ...................... 396.84 Total ...................................... $ 7,487.51 Februaq 28,2002 Account Type ........................... IRA Account/60 MOS/5.870000 Account Number. ...................... 87000105006004 Ownership (Names oj') ............... Eugene P. Gardner Opening Date ........................... 07/06/85 Closed 02/15/02 Balance on Date of Deattt .......... $ 6,789.32 Accrued Interest. ...................... 224.93 Total ...................................... $ 7,014.25 Account Type ........................... Certificate of Deposit/60 MOS/5.850000 Account Number. ...................... 87008141031201 Ownership (Names o?) ............... Eugene P. Gardner or Virginia M. Gardner OpeningDate ........................... 01/12/98 Closed 02/15/02 Balance on Date of Deatk .......... $ 2,000.00 Accrued Interest. ...................... 5.13 Total ...................................... $ 2,005.13 · Page 3 February 28, 2002 "This response does not apply to any assets held x~sth Allfirst Brokerage, where Allfirst Bank is serving as a trustee, nor to any credit cards owned by Bank of America bearing Allfirst Bank's name." If you have any further questions on these accounts, please contact the branch of record: 35-39 East King Street, Shippensburg, PA 17257, telephone 717-532-4132. Sincerely, Mary Anne Macielag Associate I/CIS (302) 934-2240 Kelley Blue Book Used Car Values Kell Blue New Car Pricing Build a Car Incentives My Car's Value Used Car Retail Free Price Quote Buy a Used Car Sell Your Car Motorcycles Financing Insurance Lemon Check Warranties Accessories Car Reviews Car Previews Decision Guides Advice About kbb Home Blue Book Retail Report Pennsylvania · August 8, 2002 1994 Dodge Intrepid Sedan 4D Engine: V6 3.3 Liter Trans: Automatic Drive: Front Wheel Drive Mileage: 75,000 Equipment Air Conditioning Power Steering Tilt Wheel AM/FM Stereo Dual Front Air Bags Page 1 of 2 Buy_ a _Used Ca r ~Eee l_e_rn~n ~h~ck Fin~ndng Quote ~Dsu[a ~nce_.Quote Warranty Quote Pa ym_~n t. Calcu lato_r Review of This Car Retail Value $5,465 See Local. Listing for This Ca~ Suggested retail represents the price a dealership might ask for this make and model vehicle. This represents a fully reconditioned vehicle in excellent condition with a clean title history. This retail price is not a trade-in or private- party value, but rather assumes that a dealer has absorbed the cost of making the vehicle ready for sale, reconditioning, advertising, sales commissions, arranging for financing and insurance and standing behind the vehicle for any mechanical or safety problems. Many late model vehicles at this price have passed an inspection program or carry a warranty. Actual dealer selling price may vary from this price. Get_a P r i~v a_ t_e_Ea r t y___V_~, u_ _e Ge_t__[ n_.y~ i_ce _&_H S_R P_ _qn. _New_ Ca r: Copyright © 2002 by Kelley Blue Book Co., All Rights Reserved. Jul-Aug 2002 Edition. The information in this report was printed from the Kelley Blue Book Web site (www.kbb.com) and is intended for the personal use of the customer only and may not be sold or transmitted to another party. We assume no responsibility for errors or omissions.(v.02071) http://www.kbb.com/kb/ki.dll/kw.kc.ur?kbb;321351 &;r&40;Dodge; 1994%20Intrepid&9;D._ 8/8/2002 PSEC the financial linkT,,, August 8, 2002 Account Ct 1183124762 CAROL I GRATTON C/O JOEL R ZULLINGER ESQ 14 N MAIN ST SUITE 200 CHAMBERSBURG, PA 17201 VIA FACSIMILE 717.264.1881 Dear MS GRATTON: The following is the status of EUGENE P GARDNER's account with PSECU as of the date of death, Joint Owner's Name Date Established Date of Death Date of Birth VIRGINIA GARDNER, JOINT TENANT W/ROSWHO PRECEASED HER HUSBAND-INTRUST FOR ERIC E GARDNER 03.20.1997 01.27.2002 04.18.1922 Share(s) Balance Accrued Dividend Regular Shares (S1) $ 645.19 $ 1.02 60 Month Certificate- 1 (S50) 20,942.12 93.98 The dividend earned from January 1, 2002 through the date of death was $95.00. We do not have safe deposit boxes for our members. If you have any questions, please call 234-8484 in Harrisburg or our toll- free number, (800) 237-7328. At the menu prompt, enter 6 and then extension 2227. Sincerely, Meacie Fairfax Member Service Representative Finance Support Unit PENNSYLVANIA STATE EMPLOYEES CREDIT UNION Main Address: 1 Credit Union Place, Harrisburg, PA 17110-2990 · (717) 234-8484 · (800) 237-7328 Mailing Address: P.O. Box 67013, Harrisburg, PA 17106-7013 · (717) 777-2100 (TDD) · (800) 472-1967 (TDD) Web Address: www. psecu,com Savings federally insured up to $100,000 by the National Credit Union Administration. E~E t-- LAW OFFICES OF ZULLINGER- DAVIS PROFESSIONAL CORPORATION JOEL R. ZULLINGER 14 North Main Street Suite 200 Chambersburg, PA 17201 717-264-6029 Fax: 717-264-1884 zulngrlaw~cvn.net Dale F. Shughart, Jr. of counsel HAMILTON C. DAVIS 20 East Burd Street, Suite 6 P.O. Box 40 Shippensburg, PA 17257 717-532-5713 Fax: 717-530-5222 davish~cvn.net September 25, 2002 Register of Wills Cumberland County Courthouse Carlisle, PA 17013 Gentlemen: RE: Estate of Eugene P. Gardner No. 21-02-128 Enclosed for filing in your office is an original and one copy of the Pennsylvania Inheritance Tax Return and an original of the inventory for the above estate. Also enclosed are the following checks: Register of Wills, Agent $244.11 for the balance of tax due, and Register of Wills $28.00 for filing fee. Thank you. Very truly yours, Ends. Estate of Gardner, Eugene P. also known as INVENTORY , Deceased No. 21 02 128 Date of Death 1/27/2002 Social Security No. 183124762 Personal Representative(s) of the above Estate, deceased, verify that the items appearing in the following inventory include all of the personal assets wherever situate and all of the real estate in the Commonwealth of Pennsylvania of said Decedent, that the valuation placed opposite each item of said inventory represents its fair value as of the date of the Decedent's death, and that Decedent owned no real estate outside the Commonwealth of Pennsylvania except that which appears in a memorandum at the end of this inventory. INVe verify that the statements made in this inventory are true and correct. I/VVe understand that false statements herein made are subject to the penalties of 18 Pa. C.S. Section 4904 relating to unsworn falsification to authorities. Name of Attorney: I.D. No.: Joel R. Zullinger 1-1,51G Personal Representative: PA 17201 Address: 14 North Main Street, Suite 200 Dated Chambersburq Telephone: (717)264-6029 Stocks & Bonds Description Account #697-19616, Merrill Lynch, consisting of the following investments: Money Fund - $9,535.00 662 shams M.L. Global Allocation @12.75 - $8,440.50; 3567 shams John Hancock @4.68 - $16,693.56; 1813 shams Lord Abbott @2.57 - $4,659.41 Account #A09-0002609-1-127 Fahnestock, consisting of the following: Prime Cash Money Market - $27,160.00 Fleet Capital Trust VI 8.8% TOPRS due 6/30/30 - $2,650.00 Closely-Held Corporation, Partnership or Sole-Proprietorship Mortgages & Notes Receivable (Attach Additional Sheets if necessary) Total 39,328.47 Value 29,810.00 RW-4 NOTE: The Memorandum of real estate outside the Commonwealth of Pennsylvania may, at the election of the personal representative, include the value of each item, but such figures should not be extended into the total of the Inventory. 325,679.15 Gardn~: , ',~ugene P. Description of Inventory Continuation of Inventory Paqe 1 21 02 128 Description Cash, Bank Deposits, & Misc. Personal Property Account #360-02388 Legg Mason Wood Walker, Incorporated, as follows: Certificate of Deposit $25,000.00, including accrued interest $249.86; Money Market $6,210.88, including accrued interest $6.39 Account #0183124762, PSECU, including interest accrued to date of death Account #0097250031, AIIfirst Bank, titled in Eugene P. Gardner or Virginia M.Gardner, h/w (Virginia M. Gardner predeceased on 1/12/2002) Certificate of Deposit #87008141031201, AIIfirst Bank, titled in Eugene P. Gardner or Virginia M. Gardner, his wife, (Virginia M. Garnder predeceased on 111212002), including interest accrued to date of death 1994 Dodge Intrepid 4 door Sedan, Kelley Blue Book value attached 1975 FoR Galaxy 1970 Honda Trail Motorcycle sold privately for $100.00 Real Estate Tract of real estate, together with improvements thereon erected, situate at 204 N. High Street, Newburg, PA, appraised by Roy R. Monn, Jr., with copy attached Tract of real estate, together with improvements thereon erected, situate at 202 N. High Street, Newburg, PA, appraised by Roy R. Monn, Jr., with copy attached Value 31,467.13 44,131.75 4,471.67 2,005.13 5,465.00 100.00 100.00 Sub~l $ 256,540.68 Grand To~l $ 325,679.15 48,400.00 120,400.00 JRZ October 9, 2002 IN THE COURT OF COMMON PLEAS OF THE 9th J~DICiAL DISTRICT OF PENNSYLVANIA IN RE: Estate of Eugene P. Gardner : late of Shippensburg : Township, Cumberland County : Pennsylvania : PRAECIPE TO ENTER APPEARANCE Please enter my appearance as attorney for the Estate of Eugene P. Gardner. Chambersburg, ~'"17201 BUREAU OF TNDZVZDUAL TAXES THHERTTANCE TAX DTVTSTON DEPT. 180601 HARRTSBURG, PA 17118-0601 COHNONWEALTH OF PENNSYLVANIA BEPARTHENT OF REVENUE NOTICE OF INHERITANCE TAX APPRA/SEMENT, ALLO#ANCE OR D/SALLO#ANCE OF DEDUCTIONS AND ASSESSMENT OF TAX JOEL R ZULLINGER ZULLZNGER DAVIS lq N HAIN ST STE 200 CHAHBERSBURG PA 17~01 DATE ESTATE OF DATE OF DEATH FILE NUHBER COUNTY ACN 11-19-2002 GARDNER 01-27-Z002 21 02-0128 CUMBERLAND 101 Amount: Remi~ed EUGENE P HAKE CHECK PAYABLE AND REHZT PAYHENT TO: REGISTER OF WTLLS CUHBERLAND CO COURT HOUSE CARLISLE, PA 17013 CUT ALONG THIS LINE I1~ RETAZN LOWER PORTION FOR YOUR RECORDS ~ REV-1547 EX AFP (01-02) NOTICE OF ZNHERZTANCE TAX APPRAZSENENT, ALLOWANCE OR DISALLOWANCE OF DEDUCTIONS AND ASSESSHENT OF TAX ESTATE OF GARDNER EUGENE P FILE NO. 21 02-0128 ACN 101 DATE 11-19-2002 TAX RETURN #AS: ( X ) ACCEPTED AS F/LED ( ) CHANGED RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN 1. Real Es*e~a (Schedule A) (1) 2. S~ocks end Bonds (Schedule B) (2) $. Closely Held S*ock/Par*nership /n~eres~ (Schedule C) ($) q. Mortgages/No,es Receivable (Schedule D) 5. Cash/Bank Deposits~Misc. Personal Proper~y (Schedule E) (5) 6. Jointly Owned Proper~y (Schedule F) (6) 7. Transfers (Schedule G) (7) 8. To,al Assa~s APPROVED DEDUCTZONS AND EXENPTZONS: 9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) (9) 10. Deb~s/Hor~gage Liabilities/Liens (Schedule 1) (10) 11. To~al Deductions 12. Na~ Value of Tax Ra~urn 168~800. O0 69 z 138 47 O0 O0 8717~0 68 O0 ~01190 .q3 (8) 9,8~1.06 60:5.78 (11) (12) 13. NOTE: Chari~ceble/Governmen~al Bequests; Non-elected 9115 Trusts (Schedule J) (15) Ne~: Value of Es~a~e Sub~ec~ ~o Tax Zf an assess;ant ~as issued previously, lines 14, 15 and/or 16, 17, reflect flgures that /nclude the total of ALL returns assessed to date. (1~) .00 x 00 = (16) 355,fiZ~.7~ x 0~5= (17) .00 x 1Z = (18) .00 x 15 = (19)= ASSESSHENT OF TAX: 15. Amoun{ of Line lq a~ Spousal ra{a 16. k.oun~ of Line 1~ ~axable a~ Lineal/Class A ra~e 17. Amoun~ of Line lq a~ Sibling ra~e 18. Amoun~ of Line lq *axable a~ Collateral/Class B ra~a 19. Principal Tax Due TAX CREDITS: PAYMENT RECEIPT DISCOUNT (+! DATE NUNBER INTEREST/PEN PAID (-) O~-2~-ZOOZ CD001110 787.50 IO-OZ-ZOOZ CD001685 .00 ANOUNT PAZD 1~,962.50 Z~q.ll TOTAL TAX CREDZT BALANCE OF TAX DUE INTEREST AND PEN. TOTAL DUE NOTE: To insure proper credi~ *o your account, sub.i~ *he upper portion of ~hls form wi*h your ~ax payment. 1F PAID AFTER DATE INDICATED, SEE REVERSE FOR CALCULATION OF ADDITIONAL INTEREST. 365,869.58 10.666.86 355,qZq.7q .00 355,4Zq.7q 18 and 19 will ( IF TOTAL DUE ZS LESS THAN $1, NO PAYMENT ZS REQUIRED. ~F TOTAL DUE XS REFLECTED AS A "CREDZT" (CR)~ YOU MAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.) .00 15,99q.ll .00 .00 .00 15,994.11 .00 .00 15,99q.ll RESERVATION: PURPOSE OF NOTICE: PAYNENT: REFUND (CR): OBJECTIONS: ADH/N- ISTRATIVE CORRECTIONS: DISCOUNT: PENALTY: INTEREST: Estates of decedents dying on or before December 1Z, 1982 -- if any future interest in the estate is transferred in possession or enjoyment to Class B (collateral) beneficiaries of the decedent after the expiration of any estate for life or far years, the Comeonasalth hereby expressly reserves the right to appraise and assess transfer Inheritance Taxes at the lawful Class B (collateral) rate on any such future interest. To fulfill the requirements of Section ZlfiO of the Inheritance and Estate Tax Act, Act 25 of ZOO0. (72 P.S. Section 9160). Detach the top portion of this Notice and submit mith your payment to the Register cf Hills printed on the reverse side. --Hake check or money order payable to: REGISTER OF HILLS) AGENT A refund of a tax credit, which aaa not requested on the Tax Return, may be requested by completing an "Application for Refund of Pennsylvania Inheritance and Estate Tax" (REV-1515). Applications are available at the Office of the Register of Hills, any of the 25 Revenue District Offices, or by calling the special 26-hour answering service for forms ordering: 1-800-562-2050; services for taxpayers with special hearing and / or speaking needs: 1-800-647-5020 (TT only). Any party in interest not satisfied with the appraisement, alloeancs, or disallowance of deductions, or assessment of tax (including discount or interest) as shown on this Notice must object within sixty (60) days of receipt of this Notice by: --written protest to tho PA Department of Revenue, Board of Appeals, Dept. 281021, Harrisburg, PA 17128-1021, OR --election to have the matter determined at audit of the account of the personal representative, OR --appeal to tho Orphans' Court. Factual errors discovered on this assessment should be addressed in ariting to: PA Department of Revenue, Bureau of Individual Taxes, ATTN: Post Assessment Revie~ Unit, Dept. 280601, Harrisburg, PA 17128-0601 Phone (717) 787-6505. See page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident Decedent" (REV-1501) for an explanation of administratively correctable errors. If any tax duo is paid ~ithin three (5) calendar months after the decedent's death, a five percent (52) discount of the tax paid is allo~ed. The 152 tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not paid before January 18, 1996, the first day after the end of the tax amnesty period. This non-participation penalty is appealable in the sase manner and in the the same time period as you advid appeal the tax and interest that has been assessed as indicated on this notice. Interest is charged beginning with first day of delinquency, or nine (9) months and one (1) day from the date of death, to the date cf payment. Taxes ~hich became delinquent before January 1, 1982 bear interest at the rata of six (62) percent per annum calculated at a daily rate of .000164. All taxes ~hich became delinquent on and after January 1, 1982 mill bear interest at a rate mhlch mill vary from calendar year to calendar year xith that rate announced by the PA Department of Revenue. The applicable interest rates for 1982 through 2002 are: Year Interest Rate Daily Interest Factor Year Interest Rate Daily Interest Factor 1982 ZOZ . 000548 1992 92 . 000267 1985 162 . 000658 1995-1994 72 . O00192 1986 llZ .000501 1995-1998 9Z .000247 1985 152 . 000556 1999 7Z · 000192 1986 lOZ · 000274 2000 82 . 000219 1987 92 .000247 ZOO1 9Z .000267 1988-1991 112 .000501 ZOO2 6Z .000166 --Interest is calculated es follcas: INTEREST = BALANCE OF TAX UNPAID X NUNBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR --Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15) days beyond the date oF the assessment. If payment is made after the interest computation date shown on the Notice, additional interest must be calculated. Name of DecedenT: Date of Death: Will No.: STATUS REPORT UNDER RULE 6.12 Eugene P. Gardner January 27, 2002 Adrnin. No.: Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with respect to completion of the administration of the above-captioned estate: 1. State whether administration of the estate is complete: Yes [~] No [-] 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: 3. If the answer to No. 1 is Yes, state the following: Did the personal representative file a final account with the Court? Yes_ No [] b. The separate Orphans' Court No. (if any) for the Personal representative's account is: c. Did the personal representative state mn account informally to the parties in interest? Yes [] No [-] Date: Co 12/31/03 Copies of receipts, releases, joinders and approval of formal or informal accounts may be filed with the Clerk of the. Orphans' Court and may be attached to this report. Name 14 North Main Street, Suite 200 ChamBer sBurg, PA 17201 Capacity: Address (1717) 264-6029 Telephone No. [~] Personal Representative [] Counsel for personal representative