The URL can be used to link to this page

Home My WebLink About10-21-04 COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHAN'S COURT DIVISION NO. 21-87-896 ESTATE OF FRANK E. HOLLAR, JR., DECEASED FIFTH AND PARTIAL ACCOUNT OF W. 1Vliclcey Nye, Frank C. Nye and J. Harold Kauffman, Co-Executors Date of Death: Letters Granted: Dates of Publishing Notices in the Accounting for the Period: December 14, 1987 December 21, 1.987 January 8, 1988 January 16, 2002 to May 3l, 2003 Purpose of the Account: W. Mickey Nye, Frank C. Nye And .I. Harold Kauffman., Co-Executors, offers this account to acquaint interested parties with the transactions that have occurred during this administration. It is important that the account be carefully examined. Requests for additional information or questions or objections can be discussed with W. Mickey Nye, Executor 750 E. King Street Shippensbu.rg, PA 17257 Charles E. Shields li ,Esq. 6 Clouser Road Mechanicsburg, PA 17055 (717) 766-0209 ~~~ . Estate of Frank E. Hollar, Jr. Summary of Account Year June 1, 2003 through May 31, 2004 Proposed Distributions to Beneficiaries PRINCIPAL: Principal Balance on Hand Receipts Disbursements Administration Expenses Transfers to income Cash Balance Before Distributions Distributions to Beneficiaries Total IPrincipal Balance on Hand IPrincipal Cash on Hand ~Totaf INCOME: Income Balance on Hand I~eceipts Disbursements ~fransfer of Principal Cash Income Balance on Hand COMBINED BALANCE ON HAND Fiduciary Current Acquisition Value Value 6,886,347.62 842,541.71 38,672.64 2,367,953.89 (21,179.03) (67,005.79) 2,318,441.71 (1,475,900.00) 842,541.71 812,528.44 30,013.27 842,541.71 8,676.51 27,920.45 (103,602.75} 67,005.79 842,541.71 -1- RECEIPTS OF PRINCIPAL CASH: 07/15/03 Balance of proceeds from sale to 70,000.00 MTM Development 09/09/03 Proceeds from sale of 10.5 acres 128,791.04 Hallwood Heights property, Borough of Shippensburg 09/26,03 Proceeds from sale of small Lot 3 15,731.85 Hallwood Heights property, Boro of Shipnsbrg 11/03,03 PA Department of Revenue -Fiduciary 1,152.00 Income Tax refund for tax year 2003 12/17/03 Proceeds from sale of 1,234,832.56 Walnut Bottom Road property, Township of Shippensburg 03/08/04 Everett Cash Mutual Insurance: 38.00 Premium return 03/17/04 Proceeds from sale of 104,880.00 Rt. 11 and Conestoga Drive property Shippensburg, PA STOCKS/LISTED: 2,000 shares Kaphoe Development Corp. 10,000.00 Kaphoe Development Corp. 24,214.00 Accumulated Adjustment Account MORTGAGE/NOTE RECEIVABLE: Kaphoe Developmnet Corp. Note 160,633.62 1, 555,425.45 34,214.00 160,633.62 -~- RECEIPTS OF PRINCIPAL REAL ESTATE/PA: .70 Acres Back of Thrush Farm Southampton Twp., Cumberland Co. Southampton Twp., Cumberland Co., Thrush Farm - 126A along Rt. 11 Southampton Twp., Cumberland Co., 15.331A along Rt. 11 Southampton Twp., Cumberland Co. 42.18A along Rt. 11 Walnut Bottom Rd., Shippensburg Twp., Cumberland Co., 12.6A Walnut Bottom Rd., Shippensburg Twp., Cumberland Co., 52.2A Walnut Bottom Rd., Shippensburg Twp., Cumberland Co., 76.3A 2,191.73 160,279.63 75,932.08 63,251.85 93,197.50 89,042.17 133,785.86 617,680.82 2,367,953.89 -3- DISBURSEMENTS OF PRINCIPAL ADMINISTRATION EXPENSES 08/05/03 Carl E. Bert & Assoc Copy of Plans-Shbg Properties 09/22/03 Barry L. Negley -Tax Collector Real Estate Tax -Shbg Twp 09/22/03 Vivian F. Coy -Tax Collector Real Estate Tax -Southampton Twp 10/23/03 Carl E. Bert & Assoc. Hallwood Hgts Survey 11 /20/03 The Sentinel: Classified Ad-Fence 12!27/03 Carl E. Bert & Assoc. Acreage in Different Parcels for Tax Purposes 02/11/04 Everett Cash Mutual Ins Real Estate and Liabiity Ins 02/26/04 Carl E. Bert & Assoc. Copy of Plans, Lots A & B 03/12/04 Carl E. Bert & Assoc Revised Plans -Cook 04/15/04 Barry L. Negley -Tax Collector Real Estate Tax - Shbg Twp 04/15!04 Vivian F. Coy -Tax Collector Real Estate Tax -Southampton Twp 8.00 5,328.83 8,116.43 2,475.00 40.50 120.00 1,775.00 8.00 45.00 1,375.87 1,886.40 21,179.03 -~- DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES Charles Richard Nve. Jr. 08/16/03 Distribution of One Share of Spring Hill Stock 300.00 Christy .4. Hoover 08/16/03 Distribution of One Share of Spring Hill Stock 300.00 Frank C. Nve 08/16/03 Distribution in Lieu of Spring Hill Stock 300.00 Timothy M-~L 08/16/03 Distribution of One Share of Spring Hill Stock 300.00 Christopher A. Nve 08/16/03 Distribution in Lieu of Spring Hill Stock 300.00 Timothy E• N~ 08/16/03 Distribution of One Share of Spring Hill Stock 300.00 Cathy Jo Heisev 08/16/Oi3 Distribution of One Share of Spring Hill Stock 300.00 W. Mickey Nve 08/16/03 Distribution in Lieu of Spring Hill Stock 300.00 Harriet Sue Scharfenbera 08/16/03 Distribution of One Share of Spring Hill Stock 300.00 Peter T. Nve 08/16/03 Distribution of One Share of Spring Hill Stock 300.00 Charles Richard Nve, Jr. 09/25/03 Partial Distribution of Proceeds: 20,000.00 KAPHOE &Hallwood Hgts Tracts Chris .4. Hoover 09/25/03 Partial Distribution of Proceeds: 20,000.00 KAPHOE &Hallwood Hgts Tracts Frank C. Nve 09/25/03 Partial Distribution of Proceeds: 20,000.00 KAPHOE &Hallwood Hgts Tracts -5- DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES Timotlhy M. Nve 09/25,03 Partial Distribution of Proceeds: KAPHOE &Hallwood Hgts Tracts Christopher A. Nve 09/25/03 Partial Distribution of Proceeds: KAPHOE &Hallwood Hgts Tracts Timothy E. Nve 09/25/03 Partial Distribution of Proceeds: KAPHOE &Hallwood Hgts Tracts Cathy Jo Heisey 09/25!03 Partial Distribution of Proceeds: KAPHOE &Hallwood Hgts Tracts W. Mickey Nve 09/25/03 Partial Distribution of Proceeds: KAPHOE &Hallwood Hgts Tracts Harriet Sue Scharfenberg 09/25/03 Partial Distribution of Proceeds: KAPHOE &Hallwood Hgts Tracts Peter ~T. Nve 09/25/03 Partial Distribution of Proceeds: KAPHOE &Hallwood Hgts Tracts Charles Richard Nve. Jr. 12/22/03 Distribution: Wal-Mart Parcel Walnut Bottom Road property Christ'/ A. Hoover 12/22/03 Distribution: Wal-Mart Parcel Walnut Bottom Road property Frank C. Nve 12/22/03 Distribution: Wal-Mart Parcel Walnut Bottom Road property Timothiy M. Nve 12/22/03 Distribution: Wal-Mart Parcel Walnut Bottom Road property Christopher A. Nve 12/22/03 Distribution: Wal-Mart Parcel Walnut Bottom Road property Timothy E. Nve 12/22/03 Distribution: Wal-Mart Parcel 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 117,500.00 117,500.00 117, 500.00 117, 500.00 117, 500.00 117, 500.00 -n- Ca_ thy Jo Heise 12/22/03 W. Mick:ey Nve 12/22/03 Harriet Sue Scharfenberct 12/22/03 Peter T. Nve 12/22/03 Charles Richard Nve. Jr. 03/27/04 Chris A. Hoover 03/27/04 Frank C. Nve 03/27/04• Timothv M. Nve 03/27/04• Christoaher A. Nve 03/27/04• Timothv E. Nve 03/27/04 Cathy Jo Heisey 03/27/04 W. Mickel Nve 03/27/04 Harriet Sue Scharfenberg 03/27/04 Peter T. Nye 03/27/04 DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES Walnut Bottom Road property Distribution: Wal-Mart Parcel Walnut Bottom Road property Distribution: Wal-Mart Parcel Walnut Bottom Road property Distribution: Wal-Mart Parcel Walnut Bottom Road property Distribution: Wal-Mart Parcel Walnut Bottom Road property Distribution Distribution Distribution Distribution Distribution Distribution Distribution Distribution Distribution Distribution TOTAL DISTRIBUTIONS TO BENEFICIARIES 117,500.00 117,500.00 117,500.00 117,500.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 1,478,000 -7- ESTATE OF FRANK E. HOLLAR, JR. PRINCIPAL BALANCE ON HAND MAY 31, 2004 W. Mickey Nye, J. Harold Kauffman and Frank C. Nye - entire Residue for Future Administration .70 Acres Back of Thrush Farm Southampton Twp. Cumberland Co., PA 2000 Shares Kaphoe Development Corporation Kaphoe Development Corp. Note 12/25/1999 Southampton Township, Cumberland Co., PA Thrush Farm: 126A along Route 11 Southampton Township, Cumberland Co., PA 15.331 A along Route 11 Southampton Township, Cumberland Co., PA 42.18A, along Route 11 Walnut Bottom Road, Shippensburg Twp., Cumberland Co., PA: 12.6A Walnut: Bottom Road, Shippensburg Twp., Cumberland Co., PA: 52.2A Walnut Bottom Road, Shippensburg Twp., Cumberland Co., PA: 76.3A Kaphoe Development Corp. Accumulated Adjustment Account CURRENT VALUE 1, 500.00 10,000.00 160,633.62 2,450,000.00 300,000.00 840,000.00 300,000.00 1,300,000.00 1, 500,000.00 24,214.00 6,886,347.62 FIDUCIARY ACQUISITION VALUE 2,191.73 10,000.00 160,633.62 160,279.63 75,932.08 63,251.85 93,197.50 89,042.17 133,785.86 24,214.00 812,528.44 -8- RECEIPTS OF INCOME 4NTEREST OITStOWn Bank: Checking Account 1)7/06103 13.08 /)8/05/03 21.07 09/04/03 28.19 '11 /01 /03 39.93 '11 /05/03 11.33 'I 2/05/03 7.51 01 /05/04 91.52 02/05/04 7.17 03/05/04 6.76 04!05/04 14.28 05/05/04 4.77 05/31/04 5.79 251.40 TOTAL INTEREST INCOME - 9- 251.40 RECEIPTS OF INCOME OTHER INCOME Dorothy Nye -Rent Payment 06/07/03 07/06/03 08/04/03 09/04/03 10/01 /03 11103/03 12/01!03 01 /08/04 02/04/04 03./01/04 04412/04 05403104 Robert E. Keefer: Farm Rent 06,125/03 11,103/03 05,103/04 Ra~Thrush: Farm Rent 06,125/03 10401 /03 05422/04 R~Thrush -Rent Payment 06,107/03 06425/03 07/31 /03 09,104/03 10401/03 11403/03 12,/01 /03 01128/04 Samuel Thrush -Rent Payment 06(07403 07!06/03 07131 /03 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 5,928.75 5,928.75 5,928.75 1,091.25 1,091.25 1,091.25 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 400.00 400.00 345.00 4,200.00 17,786.25 3,273.75 1,200.00 1,145.00 -10- RECEIPTS OF INCOME PA Department of Revenue '11/03/03 Interest on Tax Yr 2003 Fiduciary income tax refund 64.05 64.05 TOTAL OTHER INCOME TOTAL RECEIPTS OF INCOME 27, 669.05 27,920.45 -11- DISBURSEMENTS OF INCOME 06/13/03 PA DOR: PA Fiduciary Income Tax Rtrn [PA-41-4th Instlmnt 5/31/03] 248.00 06/25/03 ACM Customer Svc.: Telephone-Frank Nye 48.04 07/23/03 ACM Customer Svc.: Telephone-Frank Nye 5.78 08/25/03 Beard Miller Co. LLP: Acctg. Svc. 4,983.00 08/25/03 Porter's Carpet: Rprs-67 Walnut Bottom Rd. 347.42 09/04/03 IRS: Fed Income Tax 5/31/03 4,276.00 " PADOR: State Income Tax 5/31/03 327.00 " IRS: Fed Fiduciary Income Tax Rtrn [Fed-1041 1st Instlmnt 5/31/04] 1,069.00 " PA DOR: PA Fiduciary Income Tax Rtrn (PA-41-1st Instlmnt 5/31/04] 330.00 09/04/03 Cash: Phone Card for Frank Nye 31.79 09/25/03 W. Mickey Nye: Executor Fee 5,000.00 " Frank C. Nye: Executor Fee 2,500.00 " J. Harold Kaufman: Executor Fee 2,500.00 10/23/03 Charles E. Shields, III: Legal Fees 8,379.50 10/24/03 Borough of Shbg: Water Rent -1041 Ritner Hwy 35.98 11/08/04 PA DOR: PA Fiduciary Income Tax Rtrn [PA-41-2nd Instlmnt 5/31/04) 330.00 12/08/03 Borough of Shbg: Shut off Water - 1041 Ritner Hwy 25.00 12/15/03 Borough of Shbg: Final Water Bill - 1041 Ritner Hwy 35.98 12/17/03 Beard Miller Co. LLP: Acctg. Svc. 1,100.00 " Charles E. Shields, III: Legal Fees 925.00 12/27/03 PenElec: Initial Elec Bill-1041 Ritner Hwy 14.77 01/02/04 W. Mickey Nye: Executor Fee 29,375.00 " Frank C. Nye: Executor Fee 14,687.50 " J. Harold Kaufman: Executor Fee 14,687.50 01/09!04 Fogelsanger-Bricker: Death Certs for F.E. Hollar 18.00 01/29/04 PenElec: Electric-1041 Ritner Hwy 17.79 02/11/04 PA DOR: PA Fiduciary Income Tax Rtm [PA-41-3rd Instlmnt 5/31/04] 330.00 " IRS: Fed Fiduciary Income Tax Rtrn [Fed-1041 2nd/3rd Instlmnt 5/31/04] 2,138.00 03/01/04 PenElec: Electric-1041 Ritner Hwy 17.80 03!27/04 W. Mickey Nye: Executor Fee 2,500.00 " Frank C. Nye: Executor Fee 1,250.00 03/27/04 J. Harold Kaufman: Executor Fee 1,250.00 03/27/04 PenElec: Electric-1041 Ritner Hwy 17.80 05/01/04 PenElec: Electric-1041 Ritner Hwy 17.80 05/22/04 PenElec: Electric-1041 Ritner Hwy 17.80 05/29/04 Charles E. Shields, III: Legal Fees 4,765.50 TOTAL DISBURSEMENTS OF INCOME 103,602.75 -12- CHANGES IN INVESTMENT HOLDINGS -PRINCIPAL Cost .70 Acres Back of Thrush Farm 2,147.73 Southampton Two., Cumberland Co., PA 09/22/03 School Tax 34.00 04/15/04 County & Local Tax 10.00 2,191.73 Brenton Street, Boro of Shippensburg 6,257.06 Cumberland Co.. PA Lot 125' X 150' 09/:22/03 School Tax 98.00 09/24/03 Settlement Sheet: Transfer Fees 172.00 09/24/03 Settlement Sheet: Adj. for taxes paid by seller (93.85) 09/24/03 Settlement Sheet: Commission 1,190.00 09/24/03 Sale of Land (7,623.21) Brad Streets in Haltwood Heights Boro of Shippensbur4 Cumberland Co. PA (2 tracts/13.97A1 09%~?2/03 School Tax 09/03/03 Settlement Sheet: Transfer Fees 09/03/03 Settlement Sheet: Adj. for Taxes 09/03/03 Settlement Sheet: Commisson 09/03/03 Sale of Land Conestoga Drive & Rt. 11, Shippensburg Twp. Cumberland Co.. PA f.8372A1 09/22/03 School Tax 04115/04 County & Local Tax 03/16104 Settlement Sheet: Transfer Fees 03/116/04 Settlement Sheet: Commission 03/1.6/04 Sale of Land 33,448.06 522.20 1,400.00 8.96 9,800.00 (45,179.22) 20,154.27 314.00 97.00 1,140.00 7,980.00 (29,685.27) -1~- CHANGES IN INVESTMENT HOLDINGS -PRINCIPAL Kaphoe Development Corporation Kaphoe Development Corp. Note 12/25/1999 Southampton Township, Cumberland Co., PA Thrush Farm - 126A along Route 11 Walnut Bottom Road, Shippensburg Twp. Cumberland Co.. PA 112.6A1 12/16/03 Settlement Sheet: Transfer Fees 12/16/03 Settlement Sheet: Commission 12/16/03 Settlement Sheet: Real Estate Taxes 12/16/03 Sale of Land Southampton Township, Cumberland Co., PA 15.33A along Route 11 09/22103 School Tax 04/16/04 County & Local Tax Southampton Township, Cumberland Co., PA 42.18A along Route 11 09/22,+03 School Tax 04/15,+04 County & Locaf Tax S rin Hill Cemetery Association 8/16/2003 Distribution to Beneficiaries 10,000.00 10,000.00 160,633.62 160,633.62 160,279.63 160,279.63 121,517.50 4,516.66 36,133.33 (594.18) (68,375.81) 93,197.50 74,413.08 1,161.00 358.00 75,932.08 61,987.85 967.00 297.00 63,251.85 2,100.00 (2,100.00) -14- CHANGES IN INVESTMENT HOLDINGS -PRINCIPAL Walnut. Bottom Road, Shippensburg Twp. Cumberland Co.. PA f52.2A1 111,090.66 06/01 /03 Transfer 8,100.51 09/22/03 School Tax 1,733.00 04/15/04 County & Local Tax 381.00 12/1 E./03 Settlement Sheet: Transfer Fees 4,516.67 12/16/03 Settlement Sheet: Commission 36,133.33 12/16/03 Settlement Sheet: Real Estate Taxes (594.19) 12/16/03 Sale of Land _ (72,318.81) 89,042.17 Walnut Bottom Road, Shippensburg Twp. Cumberland Co.. PA f76.3A1 157,815.86 09/22/03 School Tax 2,462.00 10/23/03 Carl Bert Survey 2,656.00 04/15/04 County & Local Tax 618.00 12/16/03 Settlement Sheet: Transfer Fees 4,516.67 12/16J03 Settlement Sheet: Commission 36,133.34 12/16/03 Settlement Sheet: Real Estate Taxes (594.19) 12/16/03 Sale of Land (69,821.82) 133,785.86 Escrow Receivable 05/01/03 Setlmnt. Sht.: Escrow for final approval 70,000.00 On-stown Road & T624 Thomwood Road Southampton Twp., Franklin Co., PA [Approx. 23A] 07/15/03 Payment received (70,000.00) Kaphoe AAA 05/31/03 Income from Kaphoe Development 05/31 /04 Loss for 2003 Acquisition Value 05/31/04 28,286.00 (4,072.00) 24,214.00 812,528.44 -15- ESTATE OF FRANK E. HOLLAR, JR. CASH RECONCILIATION MAY 31, 2004 Cash balance June 1, 2003 Cash receipts from June 1, 2003 to May 31, 2004 Cash disbursements from June 1, 2003 to May 31, 2004 Cash balance, May 31, 2004 Principal cash {ncome cash 47,349.15 1,583,345.90 (1,600,681.78) 30,013.27 30,013.27 30,013.27 -16- ~AFFI.DAViT W, Nlickry Nye, Frank C. Nye Aad J. Fold Kauffnate, Co-Executers, under the Last Will grid Testament of FRANK E. HOLLAR, JIZ., deceased, hereby declare under oath that they have fatly and faithfuify discharged the duties of their ace; that the foregoing aecc~unt is tract and corroct and fusty discloses ail signif-.caut transactions occurring during fire accounting period; that to their knowiodge, a!! taxes presently due from the Estate have been paid; and that wore than four months have elapsed since the first complete advertisement of the granting of letters in this Estate. ,~ ~ /~ W. ~ICKEY NYE ->`~~ C l- (Seal) ~'~' ~ ~ kC-Z C K,AUFFMAN Subscribed az~d sworn to before nne this ,~~."day G G ~ (~ , 2004 ~~ ry Publi Notarial Seal Sue Nye Scharfenberg, Notary Public Shippensburg Twp., Cumberland Courny My Commission Expires Mar.18, 2006 MENnber, Pennsylvania .Association Of Notaries j. 1~ I' i n ~' I LAST WILL AND TESTAMENT ~~ I, FRANK E. HOLL~R, JR., of Shippensburq, Cumberland County, ' ~~~~ 1 ,Pennsylvania, revoke my prior Wills and declare this to be my Will. '. 1 PERSONAL AND HOUSEHOLD EFFECTS: All of my articles of personal and household use I give to ,such of my nine step-grandchildren and to WILLIAM 5. CRAIG and MARY CRAIG, his wife, as may survive me to be divided among them in such manner as they may agree and, in the absence of agreement, in such manner as my executors may deem proper. ~~ II. BEQUESTS ~~ ~I If my wife's niece, MRS. JEANNE COOK, of Fayetteville, Pennsyl'- I! ~~vania, survives me, I give her the sum of TWENTY THOUSAND ''($20,000.00) DOLLARS. I give the sum of TWENTY-FIVE THOUSAND ($25,000.00) DOLLARS i Ito each of the children of WILLIAM S. CRAIG and P'iARY CRAIG, one ,child being a son, WILLIAM CRAIG, and the other child being a -'daughter, MARY ELIZABETH CRAIG. Such bequest to be paid to their ,parents, WILLIAM S. CRAIG and MARY CRAIG, as Trustees, to use as - ,~. _. •. mental incapacity of properly using any payments of principal or i income, my executors or trustees may use any such payment for the maintenance, support, health and education of such beneficiary, Any amounts not required by the beneficiary may be held and in- vested in accordance with the provisions of this Will covering investments by my exe~jc~u~t~or~s-a-nd trustees and any principal and accumulated incomes~a.a~.~be paid over to the beneficiary upon ,~- termination of minority or incapacity or in the event of death to his or her personal representative. VII. PROTECTIVE PROVISION: No interest in income or principal shall be assignable by, or available to anyone having a claim against a beneficiary before actual payment to the beneficiary. VIII. MANAGEMENT PROVISIONS: ~ I authorize my executors and trustees: A. To retain and to invest in all forms of real and personal property, including common trust funds operated by my corporate trustee, regardless of any limitations imposed by law on investments by trustees, or any principle of law concerning investment diversification; - 5 - ti~ ,' i." B. To compromise claims and to abandon any property which, in my trustee's or executor's opinion, is of little or no value; C. To borrow from anyone, even if the lender is a trustee or executor hereunder, and to pledge property as security for repayment of the funds borrowed; D. To sell at public or private sale, to exchange or to lease for any period of time, any real or personal property, and to give options for sales or leases; E. To join in any merger, reorganization, votinq-trust plan or other concerted action of security holders, and to delegate discretionary duties with respect thereto; F. To allocate any property received or charge incurred to principal or income or partly to each, without regard to any law defining principal and income. IX. BUSINESS POWERS: In dealing with the stock of any close corporation, any - 6 - . y ~'~ partnership or any other business interest forming a part of my 'estate or any trust hereunder, I authorize my executors and my trustees: i A. To disregard any principle of investment diversification) and to retain any part or all of such interest as long as they consider it advisable to do so; B. To sell any part or all of such interest in any business at such time or times, for such prices, to such persons, (including persons who are fiduciaries or beneficiaries hereunder} and on such terms and conditions as they may think advisable; C. To do anything that may seem advisable with respect to the operation or liquidation of any such business or any change in the purpose, nature or structure of any business; D. To delegate authority to any director, stockholder, manager, agent, partner or employee, and to approve payment from the business of adequate compensation to any such person; E. To cause the business to borrow money from the banking department of any corporate executor and trustee, - 7 - r V regardless of any rule of law with respect to conflict ',' of interest; and F. To make additional investments in any such business, if such action seems in the best interests of the beneficiaries hereunder. The fact that any executor of or trustee under this Wi11 may be interested in any such business as director, stockholder, mana- I ger, agent, partner, accountant, employee or creditor shall not I constitute an adverse or conflicting interest, and the acts of such) executor or trustee shall be judged as if he or she had no interest', 'in the business. No executor or trustee shall be liable to anyone '; for anything done or not done by any other executor or trustee or ;',by any beneficiary, except for wilful or supine negligence. In short, I intend that, in making decisions hereunder, my executors 'land my trustees shall have the same freedom of action that I would ',',have if living. X. TAX PROVISIONS: All federal, state and other death taxes payable because of Amy death on any property whether passing under this Will or other- wise, shall be paid out of the principal of the residuary trust ', with the Trust for my stepson, CHARLES RICHARD NYE, to be considered a part of the residue for this purpose. My executors may use ~~ _ g . r~ administrative or other expenses as income tax deductions or es- tate tax deductions without requiring adjustments between principal and income and they may elect to use the alternate valuation date for Federal Estate Tax and such other provisions of the Internal Revenue Code as may be available to them including Sections 303 and 6166. ',G~r:,~ ,: ~, ~._ "~~ .1^ -~., ~,,, G ~~~ ,,,~,,.~'~~/rte ~ ~~., S ~ ~- ~~> ~ i ~` XI . FIDUCIARIES : ~ ~ ~` /7~ . ~ ~~~ ,~ k I appoint as Executors J. HAROLD KAUFFMAN, LEONARD D. GOLDRING,, MICKEY W. NYE and DAUPHIN DEPOSIT BANK AND TRUST CO. No Fiduciary shall be required. to give a bond and my corporate Executor and Trustee shall receive compensation in accordance with its standard schedule of fees in effect while the services are performed. EXECUTED ~,.-~~,.: -.- ~ ~~' ~` 19 8 4 . f/, .7 / / / .~' ~ ,. .~ Frank E. Holler,,, r. In our presence the above-named Testator signed this and declared it to be his Will, and now at his request, in his - 9 - ~ ., ..._~. 1 1 I' ~ h, ~ 1; iI { i '{ ~~ ~~~~ ~~ ~~~`~~~~ we sign as witnesses. ~ resenCe of each other, ~ and in the p ~l iiPresence, ~~ i Address Address '~, ,, ~, _ 10 -