Loading...
HomeMy WebLinkAbout04-22-09COYNE & COYNE A PROFESSIONAL CORPORATION ATTORNEYS AT LAW Henry F. Coyne Lisa Marie Coyne John W. Carter 3901 Market Street Camp Hill, Pennsylvania 1 70 1 1-4227 717-737-0464 Fax:717-737-5161 www. coyneandcoyne. com Dear Madam: Register of Wills Cumberland County Courthouse One Courthouse Square Carlisle, PA 17013 Apri121, 2009 ~~ ~~ C7 ~ D .~ - ~~ --v ' ~-, C ~ ~ ,~ N _, CV - -- `~~ 1. J ~ ~ Re: Estate of Kenneth B. Nell, Deceased ` •_ , ~ No. 21-08-0767 =` i ~' ,~ y N N We represent the Estate of the Late Kenneth B. Nell. Enclosed please find an original and two (2) copies of the Inheritance Tax Return for this Estate. Kindly docket the original and return to this office a "clocked-in" copy with the enclosed stamped envelope. Also enclosed is Estate Check No. 1016 in the amount of $15.00 is the filing fee for the Return. Kindly issue to this office the appropriate receipt for the payment of funds. Thank you for your assistance. If you have any questions, please contact me. Very truly yours, COYNE & COYNE, P.C. ~: ~ .. ,---~' isa arie Coyne LMC/amd Enclosure Cc: Ray Nell, Executor, w/encl. ~~ ~ ~ .. r ,,,, ~ 1 505605 1 058 REV-1500 EX (06-05) OFFICIAL USE ONLY PA Department of Revenue Coun Code Year File Number Bureau of Individual Taxes tY PO BOX 280601 INHERITANCE TAX RETURN Harrisburg, PA 17128-0601 RESIDENT DECEDENT 21 08 0767 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 182-22-6336 07/20/2008 10/30/1928 Decedent's Last Name Suffix Decedent's First Name MI NELL KENNETH_ g (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW ~ 1. Original Return 2. Supplemental Return 3. Remainder Return (date of death prior to 12-13-82) 4. Limited Estate 4a. Future Interest Compromise (date of 5. Federal Estate Tax Return Required death after 12-12-82) • 6. Decedent Died Testate 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) 9. Litigation Proceeds Received 10. Spousal Poverty Credit (date of death 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. O) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number LISA MARIE COYNE, ESQ. (717) 737-0464 Firm Name (If Applicable) _ rr~-.7 REGISTE WILLS USE LY - COYNE & COYNE, P.C. ~ ~y c~ ~ ~. f First line of address f t ' -. -O ' 3901 Market Street ~? ~ - _,_, tV : Second line of address , , ,::_ ti ,~ , -+l ~„ ' City or Post Office . State ZIP Code D,4-HEED ~~ ~ CAMP HILL PA 17011-4227 ~' Correspondent's a-mail address: Ilsa G~COyneandCOyne.COm 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, correc~,2ndt~omplete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. TUR OF P SON P NSIB FIL~IL`!G RETURN DATE RE S G~ Ray Nell, 4659 Southeast Glenridge Tract Stuart, FL 34997 ____ - - - __ SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE ___ ADDRESS PLEASE USE ORIGINAL FORM ONLY Side 1 15056051058 15056051058 J 15056052059 REV-1500 EX Decedent's Social Security Number Decedent's Name: KENNETH B NELL 182-22-6336 RE _. CAPITULATION _ . 1. Real estate (Schedule A) . ......................................... ... 1. 164,000.00 2. Stocks and Bonds (Schedule B) .................................... ... 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) .. ... 3. 4. Mortgages & Notes Receivable (Schedule D) .......................... ... 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ..... ... 5. 577,570.80 6. Jointly Owned Property (Schedule F) Separate Billing Requested .... ... 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) _; Separate Billing Requested..... ... 7. 76,817.00 8. Total Gross Assets (total Lines 1-7) ................................. ... 8. 818,387.80 9. Funeral Expenses & Administrative Costs (Schedule H) ................... .. 9. 72,648.48 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) .............. .. 10. 12,614.35 11. Total Deductions (total Lines 9 & 10) ................................. .. 11. 85,262.83 12. Net Value of Estate (Line 8 minus Line 11) ............................ .. 12. 733,124.97 13. Charitable and Governmental BequestslSec 9113 Trusts for which an election to tax has not been made (Schedule J) ...................... .. 13. 10,000.00 14. Net Value Subject to Tax (Line 12 minus Line 13) ...................... .. 14. 723,124.97 TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .0 15. 16. Amount of Line 14 taxable at lineal rate X .0 45 723,124.97 16. 32,541.00 17. Amount of Line 14 taxable at sibling rate X .12 17. 18. Amount of Line 14 taxable at collateral rate X .15 1 g, 19. TAX DUE ......................................................... 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT 32,541.00 ~: 15056052059 Side 2 15056052059 ~ REV-1500 EX Page 3 Decedent's Complete Address: File Number 21 08 ' 0767 DECEDENTS NAME DECEDENTS SOCIAL SECURITY NUMBER KENNETH B NELL ---- 182-22-6336 STREETADDRESS _ - - 402 BERKSHIRE ROAD CITY _ _- STATE _-- - - - --- 'ZIP MECHANICSBURG PA 17055 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) (1) 32,541.00 2. CreditslPayments A. Spousal Poverty Credit ____ - _ _ -- B. Prior Payments 33,000.00 C. Discount 1,627.00 Total Credits (A + B + C) (2) 34,627.00 3. InteresUPenalty if applicable D. Interest E. Penalty _ - -- -- _- Total InteresUPenalty (D + E) (3) 0 00 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAY MENT. . Fill in oval on Page 2, Line 20 to request a refund. (4) 2,086.00 5. 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 + 5A. This is the BALANCE DUE. (5B) 0.00 Make Check Payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred :.......................................................................................... ^ b. retain the right to designate who shall use the property transferred or its income : ............................................ ^ c. retain a reversionary interest; or .......................................................................................................................... ^ d. receive the promise for life of either payments, benefits or care? ...................................................................... ^ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. ^ 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. ^ ^x 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ........................................................................................................................ ^X ^ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. 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 three (3) percent [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 zero (0) percent [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 zero (0) percent [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 four and one-half (4.5) percent, 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 twelve (12) percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. ` I SCHEDULE A REAL ESTATE COMMONWEALTH OF PENNSYLVANIA ~' INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER NELL, KENNETH B 21 - 2008 - 0767 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 DESCRIPTION VALUE AT DATE OF NUMBER DEATH - __. - - -- - -- -_ 1 402 Berkshire Road, Mechanicsburg, PA -- Per attached Appraisal 164,000.00 TOTAL (Also enter on Line 1, Recapitulation) ~ 164,000.00 WOOF APPRAISAL GROUP File No. PVT8928 APPRAISAL OF i .S 1 _ 'Y_ 'f"' i ! ~ i rt ~'t 'ry > ... ~., . ~ .II ~~ ,~ 7,. _ ~~ .x~ )~ a" ~ T r ~- IIII I ._~.. si A SINGLE FAMILY RESIDENTIAL HOME LOCATED AT: 402 BERKSHIRE ROAD MECHANICSBURG, PA 17055-5513 FOR: COYNE & COYNE P. C. 3901 MARKET STREET CAMP HILL, PA 17011 AS OF: OCTOBER 13, 2008 APPRAISED VALUE: $164,000 BY: REYNOLD R. WOOF, JR. IFAS i PA CERTIFIED GENERAL REAL ESTATE APPRAISER 302 SOUTH FRONT STREET, WORMLEYSBURG, PA 17043 WOOF APPRAISAL GROUP Uniform Residential Appraisal Report File NO. PVT8928 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Pro R Address4D2 BERKSHIRE ROAD Cit MECHANICSBURG state PA zi Code 17055-5513 Borrower owner of Public Record ESTATE OF KENNETH B. NELL Coun CUMBERLAND Le al Desvi lion BOOK 256, PAGE 2500 Assessor's Parcel # 42-28-2421-192 Tax Year 2008/2009 R.E. Tazes E 1, 910.05 Nei hbomoodName MT ALLEN HEIGHTS & SPRIG RUN ACRES Ma Reference N/A Census Tract3240-116.D1 ant X Owner Tenant Vacant S ecial Assessments E NONE PUD HOA S NIA er ear er month ~~ Pra Ri hts A raised X Fee Sim le Leasehold Other (describe Assi nment T e Purchase Transaction X Refinance Transaction Other (descdbe Lender/Client COYNE & COYNE P.C. Address 39D1 MARKET STREET CAMP HILL PA 17011 Is the subject roe current) offered for sale or has it been offered for sale in the twelve months rior to the effective date of this a 2isal? Yes X No Report data source(s) used, offering price(s), and date(s). MULTI-LIST VERIFIED. I did did not analyze the contract for sale for the subject purchase transaction. Explain [he results of the analysis of the convact for sale or why the analysis was not performed. NIA Contract Price E Date of Contract Is the ro rt seller the owner of ublic record? Yes No Data Source s) Is there any financial assistance (loan charges, sale concessions, gih or downpayment assistance, etc.) to be paid by any party on behalf of the borower? Yes No ~ If Yes, report the total dollar amount and describe [he items [o be paid. E Nn. end eY~o rn~ipl ~c.~..n..cic~~ nr •he neighborhOOtl are no[ appraisal factors. - I_r~o~.ra .-.~:'. s':_ ~- - "-~ t -~_an11~s.. ~. I _ __~, .. a ,~_ ,~.ia_ ~ ~ , Location Urban X Suburban Rural Pro Values Increasin X Stable Declinin PRICE AGE One-Unit 100 % Buit[-U X Over 75% 25-75% Under 25% Demand/Su I Shorty e X In Balance Over Su I E 000 rs) 2-4 Unit ~ Growth Ra id X Stable Slow Marketin Time X Under 3 mths 3-6 m[hs Over 6 mths 140 Low 12 Multi-Famil % Neighborhood Boundades THE NEIGHBORHOOD BOUNDARIES CONSIST OF HOMES IN THE AREA 260 Hi h 50 Commercial COMMONLY KNOWN AS THE MT ALLEN HEIGHTS AND SPRING RUN AREA OF UPPER ALLEN TWP. 180 Pred. 40 Other % Neighborhood Descdption THE SUBJECT PROPERTY IS LOCATED IN AN ESTABLISHED RESIDENTIAL NEIGHBORHOOD COMPRISED PREDOMINANTLY OF SINGLE FAMILY HOUSES. EASY ACCESS TO EMPLOYMENT CENTERS SCHOOLS SHOPPING AND TRANSPORTATION. Market conditions (including support for the above conclusions) AREA REAL ESTATE MARKET IS CONSIDERED TO BE MODERATELY ACTIVE. LOAN DISCOUNTS INTEREST BUYDOWNS AND OTHER CONCESSIONS ARE NOT TYPICAL IN THIS MARKET.CONVENTIONAL FINANCING IS READILY AVAILABLE. Dimensions NOT PROVIDED Area 0.23 ACRES Sha RECTANGULAR View TYPICAL 5 ific Zonin Classification MDR Zonin Descri lion MEDIUM DENSITY RESIDENTIAL Zonin Com liance X Le al Le al Nonconformin (Grondfa[hered Use) No Zonin Ille al describe) Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X Yes No If No, describe. Utllities Publi[ Other (describe Public Other (describe) Off-site Im rovements-T Publi[ Private Electdci X Water X Sveet MACADAM X Gas X PROPANE sanity Sewer X Alle NONE FEMA 5 ecial Flood Hazard Area Yes X No FEMA Flood Zone C FEMA Ma # 420372 0010 C FEMA Ma Date 02/15/1980 Arethe utilities and off-site im ovements t ical for the market area? X Yes No If No, describe. Are there any adverse sue conditions or external factors (easements, encroachmenu, environmental conditions, land uses, etc.)? Yes X No If Yes, describe. - l } UniLS X One One with Accesso Umt Concrete Slab Crawl 5 ace Foundation Walls CONC. BLK/AVE Floors HDWD & CPT/AVE # of Stories 2 X Full Basement Partial Basement Exterior Walls BRK & VINYUGOOD Walls DRYWALUAVE. T e X Det. Att. s-Dec./End Unit Basement Area 576 5 . ft. Roof Surface FIBERGL.SH./AVE Trim/Finish PINE/AVERAGE X Ezislin Pro osed Under Const. Basement Finish 80 % Gutters & Downs outs ALUMINUM/AVE Bath Floor CERAMIC/AVE. Desi n St le) 2 STORY X Outside En /Exit Sum Pum Window T e VINYL D.H./GOOD Bath Wainscot CERAMIC/AVE. Year Built 1966 Evidence or Infestation Storm sash/lnsulated INSULATED Car Story a None Effective A e (Yrs 12 Dam ness Settlement Screens YES X Drivewa # of Cars 1 Attic None Heatin FWA X HWBB Radiant Amenities WoodSrove(s)fi Drivewa Surface MACADAM X Dm Stair Stairs Other Fuel OIL X Fire lace(s) # 1 Fence Gara e # of Cars Floor Scuttle Conlin Central Air Conditionin Patio/Deck X Porch X Ca oR # of Cars 1 Finished Healed Individual X Other WALL Pool X Other 2 SHEDS X Att. De[. Built-in A liances Refri erator X Ran efOven Dishwasher X Dis osal Mitxowave Washer/D er Other descdbe Finished area above rade contains: 5 Rooms 3 Bedrooms 1.5 Bath(s) 1 176 S uare Feet of Gross Livin Area Above Grade Additional features(specialenergyefficientitems,etcJ. REPLACEMENTTHERMOPANEWINDOWS. Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). THE APPRAISED PROPERTY IS IN AVERAGE CONDITION FOR IT'S AGE AND HAS BEEN WELL MAINTAINED. NO FUNCTIONAL OR EXTERNAL INADEQUACIES NOTED. Are there any physical deficiencies or adverse cgntlitions that affect the livability, soundness, or swctural integdty of the property? Yes X 'NO If Yes, describe. Dces the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? X Yes No If No, describe. ALTHOUGH SMALLER THAN THE TYPICAL TWO STORY IN THE DEVELOPMENT, THIS FACTOR HAS NO ADVERSE EFFECT ON MARKETABILITY. v ~'Peyel Of6.. ... .........~..~.",,,,, ra~nne mee run,~tODe 05062906 WOOF APPRAISAL GROUP Uniform Residential Appraisal Report File NO. PVT8928 There are N/A com arable ro erties current) offered for sale in the subject nei hborhood ran in in ~ce from S N/A to S N/A There are 8 com arable sales in the subject n ei hborhood within the ast twelve mpnths ran in in sale price from S 162 000 to S 205 000 FEATURE SUBJECT COMPARABLE SALE N0,1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.3 402 BERKSHIRE ROAD Address MECHANIC S BURG 15 BIG HORN AVENUE MECHANICSBURG 121 HOLLY DRIVE MECHANICSBURG 510 APPALACHIAN AVENUE MECHANICSBURG _ __ _ ..Proximi toSub'ea __ _ __ ___ ~ - n 7R MILFg S_E n 1p MILES W 0 23 MIL_E_S S_ I s 169.000` _ _ S 190.000 ` S 205.000 Sale Price I S ___ _ _ Sale PdceJGross Liv. Area S S 123.54 5 . ft. S 106.86 5 . h E 120.31 5 . ft ~i Data Sources °' MULTI-LIST SERVICE MULTI-LIST SERVICE MULTI-LIST SERVICE verification Sources ~ COUNTY DATABANK COUNTY DATABANK COUNTY DATABANK VALUE ADJUSTMENTS I _ f ! " = F' ~r. _ I DESCRIPTION +(-I s urmem DESCRIPTION +(d s Ad- men) DESCRIPTION ,(-) s uvmem _ _ Sale or Financing CONVENTIONAL Concessions 51 DOM CONV W/HELP 27 DOM -1,DOD FHA 19 DOM Date of Sale/Tlme ~ 03/14/2008 06/13/2008 04!18/2008 location SUBURBAN SUBURBAN SUBURBAN SUBURBAN LeaseholdlFee Sim le FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Sile 0.23 ACRES 0.028 ACRES 0.38 ACRES 0.32 ACRES ' view TYPICAL TYPICAL TYPICAL TYPICAL Desi n (St le 2 STORY 2 STORY 2 STORY 2 STORY Qualit of Constmction AVERAGE AVERAGE AVERAGE AVERAGE Aaual A e 42 39 38 42 Condition AVERAGE AVERAGE AVERAGE ABOVE AVE. -6 000 Above Grade taal eeras Baths Taal Berms Barns Taal etlrms Bans trial Brims Baths Room Count 5 3 1.5 7 3 1.5 8 4 2.5 -5 000 8 4 2.5 -5 000 Gross Livin Area35.00 1 176 s . R. 1 366 s ft. -6 7D0 1 778 s . ft. -21 100 1 704 s . ft. -18 500 Basement & Finished Rooms Below Grade FULL BASEMENT REC. ROOM FULL BASEMENT UNFINISHED +6,D00 FULL BASEMENT UNFINISHED +6 000 FULL BASEMENT REC. ROOM Functional Utilit AVERAGE AVERAGE AVERAGE AVERAGE - Hearin ICoolin HWBB/1 WALL EBB/NONE +4 DDO EBB/NONE +4 000 FHA/CA -2 000 Ener Efficient Items THERMOPANES THERMOPANES THERMOPANES THERMOPANES • Gars a/Car ort CARPORT 1 ATT GARAGE -3 ODO 1 ATT GARAGE -3 ODO 2 ATT. GARAGE -8 ODD Porch/Patio/Deck PORCH PORCH DECK -2 500 SCR'D PORCH -4 5D0 COV'D PATIO -2,DD0 FIREPLACE 1 FIREPLACE 2 FIREPLACES -3 000 1 FIREPLACE 1 FIREPLACE EXTRA'S 2 SHEDS NONE +1 D00 NONE +1 000 SHED Net Ad"ustment (Totap ' X - S 4,200 + X'- S 23,600 X - S 41,500 Adjusted Sale Price - of Comarables Net Adj. -2.5% GrossAd'. 15.5% S 164800 Net Adj. -12.4% Gross Ad. 24.0% S 166400 Ne[Adj. -20.2% Gross Ad. 20.2% S 163.500 I X did did not research the sale or Vansfer history of the subject property and comparable sales. If not explain M research did X did not reveal an for sales or Vansfers of the sub'ea ro for the three ears rior to the effective date of this a sisal. Data source s) COUNTY DATA BASE. M research did X did not reveal an rior sales or transfers of the com amuse sales for the ear for [o the date of sale of the com aable sale. Data sources) COUNTY DATA BASE. Re ort the results of the research and anal sis of [he rior sale or transfer histo of the subject ro ert and com arable sales re ort additional rior sales on a e 3 . ITEM SUBJECT COMPARABLE SALE N0. 1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.3 Date of Prior Sale/transfer N/A N/A NIA N/A Price of Prior Sale/Transfer Data Source s) COUNTY DATA BANK COUNTY DATA BANK COUNTY DATA BANK COUNTY DATA BANK EttectiveDateotDataSources NO DATE INDICATED NO DATE INDICATED NO DATE INDICATED NO DATE INDICATED Analysis of prior sale or vansfer history of the subject property and comparable sales THERE HAS BEEN NO TRANSFERS OF THE SUBJECT IN THE LAST THREE YEARS. Summary of Sales Comparison Approach. ALTHOUGH NO RECENT SIMILAR SIZED TWO STORY HOME SALE COULD BE LOCATED, MARKET DATA OF CLOSED SALES WAS STILL CONSIDERED SUFFICIENT TO ARRIVE AT AN OPINION OF VALUE. CONDITION ADJUSTMENTS BASED ON MULTI-LIST DESCRIPTIONS OF UPGRADES ON COMPARABLE SALES. ALL SALES WERE CLOSED AND CONSIDERED EQUALLY WHEN ARRIVING AT MARKET VALUE. Indicated Value b Sales Com arison.A proach S 164,000 Indicated Value b : Sales Com orison A roach 5 164 DDO CostA roach (Ifdevelo ed) 5 167,700 Income A roach (if developed) E N/A ALL THREE APPROACHES TO VALUE WERE CONSIDERED. HOWEVER, MARKET AREA LACKS AN ADEQUATE NUMBER OF RENTAL SALES TO USE THE INCOME APPROACH. MOST WEIGHT WAS PLACED ON THE MARKET DATA APPROACH DUE TO THE AGE OF THE SUBJECT. This appraisal is made X 'as is..' subject to completion per plans and specifications on the basis of a hypothetical conditlon that the improvements have been completed, ^ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or aherations have been completed, or ^ subject to the following required ~~ inspection based on the extraordinary assumption that the condition or deficienry does no[ require alteration or repair: APPRAISED "AS-IS". • Based on a complete visual inspection of the interior antl exterior areas of [he subject property, defined scone of work, statement of assumptions and limiting contlitions, and appraiser's certification, my (our) opinion of [he market value, as defined, of the real property [hat is the subject of [his report is 5 164,000 as of 1 D/13/20DB ,which is [he date of inspection antl [he effective date of this eooraisal. ram ru mortm (an Pme~ceO Uag AC SOhwie. 60a.t31.6121 wxwxrxW.mm rmnie mae tam uu5 macro [w~ Page2016 1Wt tl5 062906 Woof Appraisal Group WOOF APPRAISAL GROUP Uniform Residential Appraisal Report File NO. PVT8928 STATEMENT OF ADDITIONAL LIMITING CONDITIONS AND ASSUMPTIONS: THIS APPRAISAL REPORT HAS BEEN PERFORMED FOR THE CLIENT INDICATED IN THE PRECEDING WITH WHOM PROFESSIONAL STANDARDS REQUIRES ME TO MAINTAIN A STRICT REQUIREMENT OF CONFIDENTIALITY. THE APPRAISER IS NOTA HOME INSPECTOR THE APPRAISER ONLY PERFORMED A VISUAL INSPECTION OF THE ACCESSIBLE AREAS AND THE APPRAISAL CANNOT BE RELIED UPON TO DISCLOSE CONDITIONS AND/OR DEFECTS IN THE PROPERTY. I BY REASON OF THIS REPORT, AM NOT REQUIRED TO GIVE TESTIMONY IN COURT WITH REFERENCE TO THIS APPRAISAL. IF ANYONE WISHES MY APPEARANCE IT CAN BE ARRANGED ONLY BY PRIOR ARRANGEMENT BEfNG MADE WITH ME. SUCH APPEARANCES SHALL BE MADE AS AN EXPERT WITNESS AND THE FEE FOR SUCH APPEARANCES SHALL BE AT THE RATE OF $125/HOUR PORTAL TO PORTAL PLUS ANY REASONABLE COST INCURRED BY ME. PURPOSE: THE PURPOSE OF THIS APPRAISAL IS TO ESTIMATE THE MARKET VALUE OF THE FEE SIMPLE INTEREST IN THE TITLE OF THE PROPERTY. THE VALUE IS AS OF THE DATE OF THE APPRAISAL WHICH lS THE DAY THE PROPERTY WAS LAST VIEWED IN ITS ENTIRETY AND PHOTOGRAPHED. SIGNATURE: . THE ELECTRONIC SIGNATURE USED IN THIS REPORT ARE PROTECTED BY THE APPRAISER AND ONLY THE APPRAISER HAS COMPLETE CONTROL OF THE SIGNATURE. ADDITIONAL CERTIFICATION: THE INTENDED USER OF THIS APPRAISAL REPORT IS THE LENDER/CLIENT. THE INTENDED USER IS TO EVALUATE THE PROPERTY THAT IS THE SUBJECT OF THIS APPRAISAL FOR AN ESTATE SUBJECT TO THE STATED SCOPE OF WORK PURPOSE OF THE APPRAISAL REPORTING REQUIREMENTS OF.THIS APPRAISAL REPORT FORM AND DEFINITION OF MARKET VALUE. NO ADDITIONAL INTENDED USERS ARE IDENTIFIED BY THE APPRAISER. ' __.-.PPR©~._~.7_ .. _JE, „r,~ ,.~uared by farar+ie f.:r~;,,. Provide ade uate ~n(ormation for the lender/client to re licate the below cost fi ures and calculations. Support for the opirdon of site value (summary of comparable land sales or other methods for estimating site value) DUE TO THE 100°/ BUILT UP NATURE OF THE NEIGHBORHOOD THE ABSTRACTION METHOD WAS USED TO VALUE THE SITE. ESTIMATED X REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE ........................................ = E 42 000 . Source of cost data MARSHALL & SWIFT Dwellin 1 176 5 . Ft. @ S 106.00............ = S 124 656 Qualit ratio from cost service AVERAGE Effective date of cost data 09/2008 BSMT: 576 SOFT. S . Ft. cd S 34.00........... = S 19 584 Comments on Cost A roach toss livin area calculations, de reciation, etc. FIREPLACE PORCH SHEDS 9 856 SEE SKETCH ADDENDUM FOR BUILDING DIMENSIONS. Gara e1Ca ort 276 S . Ft @ S 16.00............ = E 4 416 _ COST DATA OBTAINED FROM MARSHALL VALUATION total Estimate of cost-New = S 158,512 SERVICE AND VERIFIED WITH LOCAL BUILDERS. Less 50 Ph sical Functional External De reciation $38 043 Y 38 043 De reciated Cost of Im rovements ................................ = S 120 469 'AS-is' Value of Site Im rovements ......................:......... = S 5 200 Fcrimarod Ramatn7nn Frnnnm~r I'rfn !HI If1 Tod 1/0 nnlyl fiR Vogrc INnlr•.A7FN Vol i ¢ BV rnq AooanncH ~ c '187 inn --.OVE.'RPPRr ,- _ _ _ i - ~ 1 ~ J_-- : Crc s Rent Multpli, _ _ N,A indicate[ - _ _ _ _ _ __ i urn :rent anc C-f` - fII?rtD] r- - ~ t2b1E£ - _ Is the tlevelo r/builder in control of the Homeowners' Association (HOA ? Yes No Uni[ t e(s) Detached Attached ~ Provide the followin information for PUDs ONLY if the develo er/builder is in control of the HOA and the sub'ect ro is an attached dwellin unit. Le al name of ro"ec[ Total number of hases Total number of units Total number of units sold ~ Total number of units rented Total number of units for sale Data source(s) Was the ro ea created b the conversion of an exis[in buildin (s) into a PUD? Yes No If Yes, date of conversion. Does [he ro ect contain an multi-dwellin units? Yes No Data source(s) Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion. Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, tlesaibe the rental terms and options. Describe common elements antl recreational facilities. ~~ torn ~~ ~,an:n can rreeucm icing act sanware. mux.em wrxACnvn.rnn rannR Mae Fann 1001 Mardi 2005 4aye 3 d6 1004 OSORa06 WOOF APPRAISAL GROUP Uniform Residential Appraisal Report File NO. PVT8928 This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organizafion, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions" granted by anyone associated with the sale. 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. ' STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxid substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the Feld of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. WOOF APPRAISAL GROUP unlrorm Kesiaenuai ,vppralsai Keporc File NO. PVT8928 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I pertormed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual; specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structure) integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sates for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospectJve personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis andlor opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks pertormed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. raye a w a ID04 05 062806 WOOF APPRAISAL GROUP Uniform Residential Appraisal Report FiieNO. PVT8928 21. The lenderlclient may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or otherjurisdicfions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraisers certification. 3. The appraiser identified in this appraisal report is either asub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies. with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature ,~~ ' ~ Name REYNOLD R. WOOF JR. IF S Company Name WOOF APPRAISAL GROUP Company Address 302 S. FRONT STREET WORMLEYSBURG, PA 17043-1338 Telephone Number (717) 975-9411 Email Address REYWOOF(o~AOL.COM Date of Signature and Report 10114!2008 Effective Date of Appraisal 10/13!2008 State Certification # GA-000002-L or State License # or Other (describe) State # State PA Expiration Date of Certification or License 06/30/2009 PA CERTIFIED GENERAL REAL ESTATE APPRAISER ADDRESS OF PROPERTY APPRAISED 402 BERKSHIRE ROAD MECHANICSBURG. PA 17055-5513 APPRAISED VALUE OF SUBJECT PROPERTY $164,000 LENDER/CLI ENT Name LISA COYNE Company Name COYNE & COYNE P.C. Company Address 3901 MARKET STREET CAMP HILL PA 17011 Email Address LISA(o)COYNEANDCOYNE.COM Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY ^ Did not inspect subject property ^ Did inspect exterior of subject property from street Date of Inspection ^ Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES ^ Did not inspect exterior of comparable sales from street ^ Did inspect exterior of comparable sales from street Date of Inspection P,otlucvtl uau,p ALI a"hw~te, 600]34.6)2! w+wa>xeE mm Fanni6 M86 FMO 1 W4 A16rc6 2m5 Pege66~6 f004 06062806 Woof Appraisal Group SUBJECT PROPERTY PHOTO ADDENDUM Borrower: .File No.: PVT8928 Property Address: 402 BERKSHIRE ROAD Case No.: City: MECHANICSBURG State: PA Zip: 17055-5513 Lender: COYNE ~ COYNE P.C. ~, ~' ~p ra't`. '7 i i. ,.~.-`1i~ 1`` '- f~ er 't~ e,r ~ ~ ~ ._. nA(ry. FRONT VIEW OF SUBJECT PROPERTY Appraised Date: OCTOBER 13, 2008 Appraised Value: ~ 164,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: File No • Pvrs928 Property Address:402 BERKSHIRE ROAD Case No • City: MECHANICSBURG State PA Zip' 17055 5513 Lender. COYNE & COYNE P.C. COMPARABLE SALE #~ 15 BIG HORN AVENUE MECHANICSBURG Sale Date: 03/14/2008 Sale Price: $ 169,000 COMPARABLE SALE ~2 121 HOLLY DRIVE MECHANICSBURG Sale Date: 06/13/2008 Sale Price: $ 190,000 COMPARABLE SALE #3 510 APPALACHIAN AVENUE MECHANICSBURG Sale Dale: 04/18/2008 Sale Price: $ 205,000 FLOORPLAN Borrower: File No.: PVT8928 Property Addres5:402 BERKSHIRE ROAD Case No.' City: MECHANICSBURG State PA Zip' 17055-5513 Lender: COYNE & COYNE P.C. 24.0' 24.0' 12.0' I ° Shed P.R. Bath Kitchen Dinette 0 Bedroom Carport ,.~ iving Room e N o ~ N "' Bedroom Bedroom i Po~c~'0 I o ~P 12.0' _--- --- 21.0' -_--~ I Sketch by Apex IV W ndows TM t.RE-, aL CUL:.TIONS''SUMMARY LIl/ING nREA BRF~'~KDOWN' Code Gescriptron - .Size Totals' Breaktldwn Suhtotais GLAl First Floor 576.00 57fi.D0 Hirst Flooz Gr.a9 Second Floor 600.00 600. D0 2Q.0 x 2Q .0 576.00 -, HSMT Haaement 576.00 576.00 Second Floox P/P Porch a<.00 fid.00 2G.0 : 25.0 600.00 GAR CARPORT 276.00 276.00 OTH Storage 36.00 36.00 I TOTAL LIVABLE - (rounded) 1176 2 Areas Total (rounded) - l 1 i76 ' I I . ~ - LOCATION MAP Borrower: File No.: PVT8928 Property Address 402 BERKSHIRE ROAD Case No.: City MECHANICSBURG State: PA Zip: 17055-5513 Lender; COYNE & COYNE P.C. N ~ i - .W~ f +' MaAaNt' ~'` ~8~t~3CS~ ~.ry ' V4e1i334E' .._ ~,,. i , .^ U , t ,`~' - ~r2~~-t~ _ ~ ~~~ - t2cserd~~~ : f? ,. R keaewor ..~N. ~. c a , --. x.44 - ' ~ ~ ' u ~ ~ pyv wren '-v T ~ iamuhip Falioe D«d ~ _ ~,. . ~ . lD` _ C ' ~ ~ w ~, _.. ~'~ ,~ 4~ s rt~ ~c,~,.. - `. - ~~ .... - I n<ter~-~' ~u~ ect ~~ ~~ --u e ~ - " y ~~ ~ , = r dU2 B~n~'° -IIRE ROI+D ,~.~ Q-- -° ~~ttx ktecham 6ut~t, FX. 1 T€!$' " %" ~ ~ , ~ ~ ~~ 1 ~ ' ~ 1 c x . ° ,Camz ar UIeS 'e - n m >. t %l. N1.y'r D2~ ~ ~ m '64 tcha~l 5u 4.=. :'DSS-5a ~ ~ ~ a ~ ~ MoirK Alien _ ~_~- ~ m d .c _ _ ~ - . -~-_ - ..,_._ -- ~;~ Tj~ ~-_ _ ': ~t~ri ns_- --,~,,w'?'~ ,... ~~ss ~-~ Cocnpa•able Sale 1 °, ~._ - 1' 6I ~ HOFCy kYENUE .... ~Ccm~a~rl~ a~e3 _ `paFChdmcsnorp,PAiio555516 _- ~~~~~~~ 7 e. ~aLk -iaFhd RYENi~ I` Pd [!.a tlCtbU'~{, F'-A 1'r ~`~.' S~D1 (0.s h11L':59P~ ~ .~+~~'=~ f lift ~ ,a a ~ ~ - _ .i Y - \(. _~ ~Y ~.~> p`y,. U~ ~~ .. ~- _ - r ~' 7, dR ~ Z i 3a ~ ._ t. ~-Jg c ~e ,.Qr ^~e.. !'' ro ro' .~~ =. yp4 :'1141 I ' -. ~~ y -- e` ,fig. ~. ~. c;at~~ ~= ~. -~~ - _r ~. b ~Lti ~, ~~.Y" ti/f '~ ''~.Id~nl' J n 25 - . .~v N 9~z1 ~`l: o -..-: aur~ns ~ ~ ~ ~ : ~\ ~ ~ ~ 31 mile' ~ ~r_. ~ O]OOd Mieiosrrt Gq 61x07 NIVRp an4Joriel 1Ea5,Inc_ j Ili .., Borrower: File No. : PVt8928 Property Addre5s:402 BERKSHIRE ROAD Case No.: City: MECHANICSBURG State: PA Zip: 17055-5513 Lender: COYNE & COYNE P.C. ..:au=-,..~.a?~"~-~.....~~w;. ~° .~.. .... v.., .. _. .. _: ,.. a-. .~- "LJi.,.i?~ iat^s a .._[err_y}=aYL~..~:L='"T~ffp --: ~ ry #7#c'K1.ttY)tB.C`~~Ytl r}~ ~3 L'Ct.9`1Li"93'3 Ql .~ "~ ~lJ:f L'.l 3a i+~ ~3i L:{'E`h1iYt T"f3k~#~i1Yi~t-Jy ~^~,1,~7~~n+~i' 9.i ~~:t~("?~. ~ . ri'',. a19. A i'tr<` f'i~Yi~[:'$'LC ~f-(:R1!~ ~AtN~1~'"`~!"ttft[~"x'Lift7T ~.3~17i` ~"ri f"dx! t~{~;~ ~r,~~ . L1'"':14' ~~ ~I• .I., T ~.a YCi!. ,~1 ~.~., 9:.1j1~,r`3t#L11YS ~t~dhlf. .~~~li;.rX vet .~ .,mac.,. ,. ~ ,. j , . _ ,. .'. ,:. i I SCHEDULE E CASH, BANK DEPOSITS, & MISC. COMMONWEALTH OF PENNSYLVANIA ', PERSONAL PROPERTY i INHERITANCE TAX RETURN RESIDENT DECEDENT _. ___ __ ESTATE OF FILE NUMBER NELL, KENNETH B 21 - 2008 - 0767 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. VALUE AT DATE OF ITEM DESCRIPTION NUMBER DEATH __ ___ -- - _ ___ 1 PNC Checking Account 25,681.00 2 PNC Savings Account 523,937.00 3 Personal Property-- per appraisal 27,953.00 - --_ __ TOTAL (Also enter on Line 5, Recapitulation) 577,571.00 ,n i t~~vc LEA~~i& Tt~lE WAY Jaaaary 20, 2009 Lisa Marie Coyne Attorney at Law 3901 Market St Camp Hill, PA 17011-4227 RE: Kenneth B Nell SSN: 182-22-6336 DOD: 07-20-2008 o~~ Dear Ms. Coyne: In response to your request for Date of Doath (DOD) balances for the customer noted above, oar records show the following: Checldmg Account Account # 5070083414 Established: 01-18-1971 KENNETH B HELL DOD balance: $ 25,678.88 + 1.70 a~ccxlted interest Savings Account Account # 5030006852 Established: 06-22-2001 KENNETH B HELL DOD balance: $ 523,510.98 + 426.24 accrued interest I1zA Account Account # 55001005159 Established 03-19-1986 KENNETH B HELL DOD balance; $ 3,952.71 + 0.40 accraed interest Account # 65001004810 Established: 04-11-1984 KENNETH B HELL DOD balance: $1,152.98 + 0.58 accrued interest Account # 65001004812 Established: 11-16-1984 KENNETH B N~,L _ DOD balance: $ ?51.73 + 0.27 accrued interest Page 1 of 2 i 1009 11:50A~ PNC BANK 412-705-2-147 Acco~mt # 65001004813 Established: 03-22-19$5 KENNETH B HELL DOD balance: $ 2,068.87 + 7.76 accrucd intcrest Account # b5001005630 Established: 0'7-19.1985 KENNETH B HELL DOD balancc: $1,973.96 + 0.17 accrucd interest Account # 65001005631 Established: 43-19-1986 KENNETH B NELL DOD balancc: $ 3,952.71 + p.40 accrued interest For bencficiary information, Please call 1-888,762-727. Investment Account ou ma call the The decedent maintained Investment Account 620458p3. For fiu~ther information, y Y Brokcragc Dcpartoacnt at 1-800-7b2-611 L Please note that this office provides date of death balances for deposit acco~urts (iR.As, CDs, Checking and Savings). We do not process sny Snancial trans$ctfons ar provide statemen oiu~ Vocal PNC Bank branch any of these items, please tali 1-888-PNC-BANK {i-888-762-2265) or stop by y office. Sincerely, National Financial Services Center PNC Bank, N.A. Ivlember FDIC Page 2 of 2 CLAUDE C. 1NOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET CAMP HILL, PA 17011 717-737-0734 October 21, 2008 Appraisal for the Estate of Kenneth B. Nell 402 Berkshire Road, Mechanicsburg, PA 17055 LIVING ROOM Suede chair Misc. books Pair of end tables Blue rocking chair 4 Wooden TV trays 2 Table lamps Flower motif chair Ottoman Vacuum cleaner Misc. contents of living room DINIING AREA Reproduction dry-sink Pine table with 6 chairs Old stereo equipment Misc. 33 1/3 rpm record albums Table/lamp Magazine rack Misc. contents of dining area KITCHEN Hotpoint refrigerator -old 4-Slice toaster Misc. everyday dishes Misc. cookware Misc. utensils 30.00 15.00 30.00 20.00 15.00 20.00 10.00 1.00 10.00 10.00 25.00 100.00 50.00 5.00 10.00 5.00 25.00 60.00 5.00 10.00 25.00 10.00 CLAUDE C. Vl~OLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 191 D 2009 LINCOLN STREET CAMP HILL, PA 17011 717-737-0734 Nell appraisal Page 2 of 5 KITCHEN -continued Misc. flatware 7.00 GE microwave -old 10.00 Portable radio 3.00 Trash container 1.00 Misc. contents of kitchen 10.00 BATH Trash container 1.00 Clothes hamper 1.00 REAR BEDROOM 4-Piece bedroom suite 175.00 Alarm clock 2.00 Paneled table lamp 3.00 CLOSET Bed linens 5.00 FRONT WEST BEDROOM Console stereo -old 1.00 Window air conditioner 35.00 Double bed & 4-drawer chest 95.00 Misc. lamps 5.00 Misc. contents of bedroom 10.00 FRONT EAST BEDROOM Single bed 10.00 Luggage 1.00 Pedestal fan 5.00 Air filter 1.00 Pole light 1.00 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET CAMP HILL, PA 17011 717-737-0734 Nell appraisal Page 3 of 5 FRONT EAST BEDROOM -continued 4-Drawer chest 3 5.00 Paneled lamp 5.00 Record cabinet 2.00 Scale 2.00 Misc. contents of bedroom 10.00 ATTIC Misc. contents 50.00 BASEMENT Desk & chair 35.00 Loveseat & matching sleeper sofa 10.00 Trash container 1.00 2 End tables & coffee table 45.00 Misc. service medals 35.00 Ships wheel with clock 25.00 Globe 2.00 Pedestal fan 5.00 Table lamp 2.00 TV & entertainment center 45.00 Record cabinet 2.00 Entertainment center, VCR tapes & VCR 15.00 Telephone 2.00 Recliner 5.00 Sony reel to reel tape recorder 5.00 2 Silk screen Oriental paintings 30.00 Misc. contents of basement 50.00 ~. ~ CLAUDE C. INOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET CAMP HILL, PA 17011 717-737-0734 Nell appraisal Page 4 of 5 FURNACE ROOM Fly rod 25.00 Misc. hand tools and hardware 25.00 Misc. CD's 50.00 Folding metal chair 2.00 Telescope 10.00 Misc. contents of furnace room 20.00 LAUNDRY ROOM Electric iron 1.00 Ironing board 1.00 Dehumidifier 10.00 Shop vac 10.00 Trash can 1.00 RCA Whirlpool dryer 100.00 RCA Whirlpool washer -old 25.00 Misc. contents of laundry room 5.00 STORAGE CLOSET Misc. contents 15.00 CARPORT SHED Snow thrower 125.00 Trash cans 2,Op Misc. contents of shed 15.00 CARPORT Sofa 50.00 Coffee table 2.00 2007 Cadillac DTS 4-door, 10,418 miles, very good condition, full power 26,000.00 Patio furniture 25.00 CLAUDE C. VI~OL~E & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET CAMP HILL, PA 17011 717-737-0734 Nell appraisal Page 5 of 5 SHED Aluminum step ladder Aluminum extension ladder Wheel barrow Lawn-Boy mower Electric leaf blower 10.00 20.00 8.00 75.00 10.00 Misc. contents of shed 20.00 APPRAISAL TOTAL $ 27,953.00 This Fair Market Value appraisal is true and correct to the best of my ability as an auctioneer and appraiser with 35 years experience. Member: Certified Appraisers Guild of America CLAUDE C. WOLFE & ASSOCIATES ,~.. W. K. Dusty Chapman, CAGA • ~' SCHEDULE G ', COMMONWEALTH OF PENNSYLVANIA INTER-VIVOS TRANSFERS & INHERITANCE TAX RETURN MISC. NON-PROBATE PROPERTY RESIDENT DECEDENT ' ESTATE OF FILE NUMBER NELL, KENNETH B j 21 - 2008 - 0767 This schedule must be completed and filed if the answer to any of questions 1 through 4 on page? is yes. DESCRIPTION OF PROPERTY EXCLUSION ITEM DATE OF DEATH % OF i NUMBER Include the name of the transferee, then relationship to decedent and the date of transfer.' DECD'S TAXABLE VALUE Attach a copy of the deed for real estate. ,VALUE OF ASSET' (IF APPLICABLE) I, i INTEREST ___ _- -- - -- _ .- - ._ 1 'PNC IRA 3,953.11 3,953.00 I I ~ 2 ~~, PNC IRA ~'~ 1,153.56 1,154.00 3 PNC IRA 751.73 I j 752.00 i 4 PNC IRA ~' 2,076.63 2,077.00 i 5 PNC IRA 1,974.131 ~ 1,974.00 6 PNC IRA 3,953.1 11 ~~'~, 3,953.00 7 ~' TransAmerica Annuity ' 62,953.89, ', ~' 62,954.00 Jeffrey K. Nell, Son of the Decedent is the Beneficiary '~ I~ ---- -- - __ _ _. _ _ _ L TOTAL (Also enter on line 7, Recapitulation) ~ 76,817.00 :2008 1: 00 PM laizorzoos ~,t ; 38 AM PAGE zi4ae ,lard Time ' ~ LISr~ liC~l.rL~ ~R71Lla7ft No.Olbl P. 2 YI10a~CpLi IJfC _ 4Xi3 F,d~evoed 1Leed Hg 20 R~ 31r3 Cedar Auld Ia~ra SN06.9ld9 July 29, 20DS Jeffrey K Nell PO Hox 699 New Cumberland PA 17070-0699 RE: llatt~tYity Number (s) X42~91TAT Dear Jeffrey K Nell: We have received notification, Kcnnsth B Nei],, annuitant of the above listed non--qualified tax defezred annuity 4s decea;sed, Our office wishes to extend sincere condolences ,for your loss. The fallowing is the current information on this annuity: Annuitant' Kenneth B Nell Darner: Kenneth 8 NeII Primary BQneficiary: Jeffrey K Nell 100 Atanuity Policy Date; July 20~ 2007 Full Value as of 07/2012008: 562,953.89 The attached document reflects the options available to the beneficiary listed above. A variable annuity provides for a fluctuating return and benefit, in response to its underlying ihvestments, regardlors Qf the option Chosen. It is important to note; a variable annuity will continue to be subject to the variable market until all of the annuity funds axe disbursed. xhe full value as of the date of death is for tax purposes only and Ia not a guaranteed death benefit amount. Operations performed on an automatic basis ha'v'e been termiclated, such as: Dollar Cost Averaging, Rebalance andlor Systematic Payout, when applicable. ~ ohba ~;bQOI~Lc~ ~~ 2008 1:O1PM 10/20/20p8 11:38 AM PAGE 3/Q08 No, tM161 N, 3 ,lard Time / The attached document contains general tax informat~,on based on Transamerica LiFe Insurance ComQany's interpretation and shouXC1 not be zelied upon for your personal tax planning. If you have questions concerning the direct tax consequences xrhen selecting an option, you may'w~ish to consult a tax advisor_ 1 > Ally additional questions regarding this annuity can De directed to the Annuity Service Center at 1-800-525-6205. A Transamerica Life Insurance Company representative will gladly assist you with any questions you may have regarding this annuity and help you meet your financial goals. Sincerely, %t~ Megan Frank Claims Transamerica Life Insurance Coenpar-y Enclosure(S)~ Annuity Claimants Statement Death opti.vn Packet Postage Paid Return En~relope cc: Ck~arles E Little SCHEDULE H FUNERAL EXPENSES & COMMONWEALTH OF PENNSYLVANIA ~ INHERITANCE TAX RETURN /"Y./IYIIN1~71 Iw~ ~J~7 1 J RESIDENT DECEDENT ESTATE OF NELL, KENNETH B Debts of decedent must be reported on Schedule I. ITEM DESCRIPTION NUMBER q, FUNERAL EXPENSES: L Hollinger Funeral Home 2. Reception and Flowers 3. '' Honorarium --- FILE NUMBER 21 - 2008 - 0767 AMOUNT - - B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Ray Nell Social Security Number(s) / EIN Number of Personal Representative(s): 2. 3. 4. 5. 6. Street Address 4659 Southeast Glenridge Tract, City Stuart State FL Zip 34997 Year(s) Commission paid 2009 Attorney's Fees Coyne & Coyne, P.C. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant I Street Address City State Zip Relationship of Claimant to Decedent Probate Fees Register of Wills i Accountant's Fees Tax Return Preparer's Fees 7. Other Administrative Costs 1 ' Postage 7,218.00 1,000.00 200.00 24,000.00 24,000.00 588.00 100.00 2 Legal Advertisment-- Cumberland Law Journal 75.00 i I Total of Continuation Schedule(s) I 15,468.00 __ _- TOTAL (Also enter on line 9, Recapitulation) 72,648.48 Schedule H C Funeral COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN Adminishabvie Costs C01'tbnued RESIDENT DECEDENT ESTATE OF FILE NUMBER NELL, KENNETH B 21 - 2008 - 0767 3 I Legal Advertisement-- Patriot News 127.00 4 ~~! Toll Calls for Executor 100.00 5 ' Duty's Lock Service ' 201.00 6 ' Travel, Lodging and Meals for Executor 3,500.00 7 ', Nationwide Insurance 350.00 8 i Reserves 10,000.00 9 '~, Filing Fee for Inheritance Tax Return ~ 15.00 10 Recorder of Deeds ~ 50.00 11 Woof Appraisal Group I, 300.00 12 Claude Wolf & Associates ~ 225.00 13 Tax Return Preparations 600.00 Page 2 of Schedule H SCHEDULEI ` DEBTS OF DECEDENT, MORTGAGE COMMONWEALTH OF PENNSYLVANIA LIABILITIES, & LIENS INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF NELL, KENNETH B Include unreimbursed medical expenses. FILE NUMBER 21 - 2008 - 0767 ITEM NUMBER DESCRIPTION AMOUNT 1 Charles Body Shop 3,846.00 2 Visa Charge 206.00 3 Commonwealth of Pennsylvania 36.00 4 Uncleared Checks 2,000.00 5 Verizon 153.00 6 Shipley Oil 1,200.00 7 York Waste 86.00 8 United Water 52.00 9 PP&L 330.00 10 Comcast 214.00 11 Real Estate Taxes 1,348.00 12 Griswald Special Care 1,031.00 13 Upper Allen Township 112.00 14 2008 Taxes Due 2,000.00 TOTAL (Also enter on Line 10, Recapitulation) ----- __ 12,614.00 REV-1513 EX+ (g-00) SCHEDULE J a COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF NELL, KENNETH B NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY I~ TAXABLE DISTRIBUTIONS (include outright spousal distributions) 1 Jeffrey K. Nell 2 Testamentary Trust for Benefit of Son, Jeffrey K. Nell _ _ - - FILE NUMBER 21 - 2008 - 0767 _ __ RELATIONSHIP TO AMOUNT OR SHARE DECEDENT OF ESTATE Do Not List TrusteH(sJ - _ _ ____ I Son Real Esstate, Personal ', Property '~ Trust for Son I 100% of Residual Enter dollar amounts for distributions shown above on lines 15 through 18, as appropriate, on Rev 1500 cover sheet II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT 'BEING MADE B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1 Ship '~ 2 Charity ', 5,000.00 5,000.00 TOTAL OF PART II-ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET 10,000.00 REGISTER OF WILLS CUMBERLAND COUNTY PENNSYLVANIA CERTIFICATE OF GRANT OF LETTERS No . 2008- 00767 PA No . 21- 08- 0767 Estate Of : KENNETH B NELL (First, Midd/e, Lastl Late Of : UPPER ALLEN TOWNSHIP CUMBERLAND COUNTY Deceased Social Securi ty No: 782-22-6336 WHEREAS, on the 22nd day of July 2008 an instrument dated April 15th 2008 was admitted to probate as the last will of KENNETH B NELL (First, Middle, Lastl Late of UPPER ALLEN TOWNSHIP, CUMBERLAND County, who died on the 20th day of July 2008 and, WHEREAS, a true copy of the will as probated is annexed hereto. THEREFORE, I, GLENDA EARNER STRASBAUGH Register of Wills in and for CUMBERLAND County, in the Commonwealth of Pennsylvania, hereby certify that I have this day granted Letters TESTAMENTARY to: RA Y NELL who has duly qualified as EXECUTOR(R/X) and has agreed to administer the estate according to law, all of which fully appears of record in my office at CUMBERLAND COUNTY COURT HOUSE, CARLISLE, PENNSYL VANIA, IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal of my office on the 22nd day of July 2008. Reg/ster o/f-W~il/ls i " Deputy * *NOTE* * ALL NAMES ABOVE APPEAR (FIRST, MIDDLE, LAST) 0 ~-~ ~ O cc. ', ~~ r-- ~_~ ~ c_ _- ` n ~-.' ---~ ' ~~.`.~ ~~ ~J V 1 ~~ ~ ~ ~ ... -, _ .~' ~ ~_ ~ ., ~'ti 0 1 Y J1.J JL ~I~JLJ1 V L Y J+-~ J~ - ~: ~ ~r~ ~~ _ ~ _I :_ ':_J~-- ~ _ __ ~ -._ : -r: ~ . -i V = : ~ i . . bounty I, KENNETH B. NELL, of the Township of Upper Allen; of~umberlald, Commonwealth of Pennsylvania, declare this to be my Last tiVill and revoke any will. or codicil previously made by me. ITEM 1: I direct that my body be buried next to my late wife, Peggy Nell at Fort Indiantown Gap National Cemetery, Annville, Lebanon County, Pennsylvania. ~ t ITEM 2: I direct that all my just debts and funeral expenses be paid as soon as practical after my death. ITEM 3: I direct that all taxes and interest and penalties thereon that maybe assessed in consequence of my death, of whatever nature and by whatever jurisdiction unposed, shall be paid from my residuary estate as a part of the expense of the administration of my Estate. ITEM 4: I give, devise and bequeath the sum of Five Thousand Dollars ($5,000.00) to the .~ ~/~ W W z W USS Radford 446, Inc. of Newcomerstown, Ohio to be used for the operation and maintenance of the "USS Radford National Naval Museum," located at 238 West Canal Street, Newcomerstown, Ohio 43852. ITEM 5: I give, devise and bequeath the sum of Five Thousand Dollars ($5,000.00) to The Navy -Marine Corps Relief Society with offices located at 4015 Wilson Boulevard, 10`~ Floor, Arlington, VA 22203 for use by deserving sailors and marines and their families. Page 1 of 8 ITEM 6: I give, devise and bequeath my house at 402 Berkshire Road, Mechanicsburg, PA 17055 to my son, JEFFREY K. NELL, provided he survives my death by thirty (30) days. -'~ ~ ITEM 7:--- --"--I give devise and bequeath-all-7nyheirlooms, personal items, and furniture son, JEFFREY K. NELL of 432 Locust Street, New Cumberland, Pennsylvania 17070, provided he survives my death by thirty (30) days. In the event my son, JEFFREY K. NELL does not desire any of these stated items, then I direct that they be sold and the proceeds of such sale be made part of the residue of my estate. ITEM 8: I direct that all the rest, residue of remainder of my estate of every nature and wheresoever situate, together with insurance thereon, be liquidated as soon as possible after my demise and that proceeds of this liquidation be made a part of my residual estate and distributed as follows: I give the rest, residue and remainder of my estate to my Trustee, my brother, RAY NELL to `'~ a ~. W W z H W hold in trust, manage, invest and reinvest the share so received, and in accumulation of income thereon, and to use and apply the income and principal, or so much thereof as, in Trustee's absolute discretion, may be necessary or appropriate for the benefit of my son, JEFFREY K. HELL, but I direct that my son shall receive Two Thousand Dollars ($2,000.00) per month for his lifetime, beginning one year after the establishment and funding of this residual testamentary trust, the monthly distribution to my son, JEFFREY K. HELL, shall increase in such an amount and in such a percentage not to exceed the cost of living rate as stated annually in the January 2nd edition of the Wall Street Journal. Should the combined principal and interest of this residual trust fall below Ten Thousand Dollars ($10,000.00), I hereby direct that the Trust be terminated and distributed in full to my son, JEFFREY K. HELL. Upon my brother Ray's death or disability, I hereby direct that the Trust be terminated and distributed in full to my son, JEFFREY K. HELL. Page 2 of 8 ITEM 9: My executor and trustee and their successors shall have the following powers in addition to those given by law to be exercised by them in their absolute discretion, which powers shall be I applicable_to -all property held. by hem,._effective without .the .order of any -court and__until -the actual--' distribution of all such property: A. To retain any investments at discretion including stock of any corporate fiduciary hereunder or of a holding company controlling it; B. To invest and reinvest in the executor's or trustee's discretion as permitted under Act 28 of 1999, the "Prudent Investor Act," with the specific right to invest in stocks, bonds and real estate, including non-income producing. residential real estate for the occupancy of any present income beneficiary or beneficiaries, successor or affiliated corporation or a holding company controlling it and in such diversified, money market and mutual funds,. including any proprietary mutual funds of any corporate fiduciary hereunder or those of any successor. or affiliated corporation or a holding company controlling it, as my executor and trustee deem,appropriate; C. To sell, to grant options- for the sale of, or otherwise convert any real or personal a p H ~V H l property or interest therein, at public or private sale, for such prices, at such time, in such manner and upon such terms as they may think proper, and to execute and deliver good and sufficient conveyances, assignments and transfers thereof without liability of any purchaser to see to the application of the purchase money; D. To borrow money and to secure the repayment thereof by mortgage of real or personal property, pledge of investments or otherwise, without liability on the part of the lenders to see to the application thereof, E. To compromise claims by or against my estate or any trust created hereunder; Page 3 of 8 F. To allocate and distribute different kinds or disproportionate shares of property or undivided interests in property among beneficiaries or trusts, in cash or in kind, or partly in each; ----= - --G.- ----To -register -investments--in-the -name of-a nominee--or to hold--the same-- unregistered in such form that they will pass by delivery; H. To join in any recapitalization, merger, reorganization or voting trust plan . affecting investments; to deposit securities under agreement; to subscribe for stock and bond privileges; and generally to exercise all rights of security holders; I. To manage, operate, repair, alter or improve real estate or other property, and to lease real estate and other property upon such terms and for such period as my executor and trustee deem advisable even for more than five (5) years and beyond the duration of any trust; J. To deduct administration expenses upon either the federal estate tax return or fiduciary income tax return with or without adjustment as between principal and income, as my corporate or disinterested executor shall determine; K. To associate with them in the absence of a corporate fiduciary, an accountant, c~ a w z P~ custodian and investment advisor, and other agents and to compensate them from principal or income or both, as my executor or trustee shall determine, such compensation to be a reduction of the compensation of my executor or trustee; L. To exercise any stock options which they may receive; to borrow such funds from any source as my executor or trustee may deem necessary for the exercise of such options; and to pledge assets as my executor or trustee deems appropriate for this purpose; M. In the -discretion of the individual trustees, to employ an investment advisor for any trust created hereunder (including any investment advisor of which a beneficiary of any trust created under this will or any related party is a principal or an employee) to perform the investment function of Page 4 of 8 the corporate trustee and such advisor shall have the rights and powers of the trustee hereunder and the corporate trustee shall be relieved from any and all obligation, responsibility or~liability to anyone for the consequences of -said-investment-advisors .exercise _or._failur-e to .exercise the_foregoing..direction. and . control and corporate trustee shall not be liable for losses resulting from any such decisions or directions, or any failure to act, of such investment advisor. The power vested in an investment advisor may be exercised in a fiduciary capacity only. Any fees paid to such investment advisor shall be in addition to fees otherwise payable to the corporate trustee for non-investment services. The persons having authority to remove any then serving corporate trustee may also remove the investment advisor from time to time and substitute therefor another investment advisor, or the corporate trustee. The same persons may also exclude certain assets or trusts from the responsibility of the investment counselor; N. No fiduciary shall be required to qualify before, be appointed by, or, in the absence of a breach of trust, account to any court (and failure to account alone shall not be considered such a breach); nor shall fiduciary be required to obtain the order or approval of any court in "the, exercise of any power or decision granted hereunder; O. To disclaim any interest in property without court approval; and ~ p P. To do all other acts and things necessary or appropriate in the management, administration and distribution of my estate or trust. Q. No income or principal shall be assignable by a beneficiary or available to anyone having a claim against a beneficiary before actual payment to the beneficiary. No part of the trust shall be subject to the claims of any beneficiary's creditors, or specifically JEFFREY K. NELL'S voluntary or involuntary creditors for the provision of care and services to him/her during his or her lifetime, including payments for residential care and maintenance by any public entity or private creditor. Page 5 of 8 R. Under no circumstances can-the beneficiary compel a distribution from the trust for any purpose. Trustee's discretion in making non-support distributions is final as to all interested -parties; evenf rsiy"trustee-elects to make-no-distributions at-all:- Further; trustee may-be arbitrary and- I- { unreasonable. Trustee's absolute and independent judgment, rather than any other party's determination, is intended to be the criterion on which distributions are made. No court or any other person should substitute its or their judgment for the decision or decisions made by trustee S. Whenever the trustee, in his absolute discretion, determines that the size of any share held in any trust hereunder does not warrant continuing the same in trust, or its administration would be impractical for any ieason, trustee, without further responsibility: 1. May pay such share to the person entitled at the time to the income from it; or 2. If such person is in the opinion of my trustee, is., disabled by advanced age, illness or other condition, my trustee may pay such share to the parent or other person in charge of such minor or incapacitated person, or to his or her guardian, or to a custodian. ITEM 10: In the event my son, JEFFREY K. HELL predeceases me or dies before the ~ a ~ ~ p W -~ entire distribution of the principal and income of the Trust is made to him, I direct the following distribution to be made: A. Fifty percent (50%) to my brother, RAY NELL, of 4659 South East Glenn Ridge, Stuart, Florida (Telephone: 561-288-7397); perstirpes andJ B. Fifty percent (50%) to my sister, LOIS R. ESSIG, per stirpes. ITEM 1 L I hereby 'acknowledge the existence of a child, CONNIE MARIE KUI-EV and intentionally, with full knowledge, have chosen to exclude her and her descendents from any benefit under the terms of this Last Will. Page6of8 ., ITEM 12: Until distributed, no gift or beneficial interest shall be subject to anticipation or voluntary or involuntary alienation. - ----STEM 13: _.L_appoint mybrather;-RAY NELL; Executor of this myLast-Will.--Should my brother; RAY HELL predecease me, fail to qualify or cease to act for any reason as my Executor, I appoint my son; JEFFREY K. HELL, alternate Executor of this. my Last Will. ITEM 14: I direct that my personal representative and trustee, or his successor shall not be required to give bond for the faithful performance of their duties in any jurisdiction. IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will and Testament, this ` ~ day of ~ `~ }~ 1 L , 2008. KENNETH B. HELL Signed,;sealed, published and. declared by the above-named Testator as and for his Last Will and Testament in our presence, who, at his request, in his presence and in the presence of each other,- have hereunto subscribed our names as attesting witnesses. ,~J ~` ~~ ~ ~ ~ ~ ~ ~ ~~~ t =-;f"TS~.~~ residing at ~ ., ~ -~ ' 3 ~`` ~ _ ;.~=., ~-L~'i-,,,~~ residing at o ~ ~~ ~.~ ~l Page7of8 i i~`Z COMMONWEALTH OF PENNSYLVANIA ) - ) ss: COUNTY OF CUMBERLAND } We, KENNETH B. NELL, r,~-~, F' ~~.,~ and -,,,~. ~,, w.,~- ,the Testator and the witnesses respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the Testator signed and executed the instrument as his Last Will and that he had signed willingly, and that he executed it as his free and voluntary act for the purpose therein expressed, and that each of the witnesses, in the presence and hearing of the Testator, signed the will as witness and that to the best of his or her lmowledge, the Testator was at the time eighteen (18) years or older, of sound mind and under no constraint or undue influence. Witness Witness L~~_~ Subscribed, sworn and aclalowledged before me ~rs~ ,~r,g-,~r ~ ~~t,,..e by KENNETH B. NELL, the Testator, and subscribed and sworn to before me by ~~ ~ ~yw. and ~'~^'-z- ~ _ ~--;~-v ,the witnesses, this ~~ day of B~f : ' J , 2008. ~- Notary P lic (SEAL) COMMONWEALTH OF PENNSYLVANIA N07ARIAL SEAL LISP, MA.R(E COYNE, NOTARY-PUBLIC HAMPDEN TWP., CUM9ERLAND COUNIY_ Page 8 of 8 MY COMMISSION EXPIRES JUNE 10, 2008