HomeMy WebLinkAbout02-0216Register of Wills Cumberland County, pennsylvania
PETITION FOR GRANT OF LETTERS
Estate of Frank M. Magel
also known as
, Deceased
Regina M. Magel,
No. 21-02-216
Social Security No. 125-05-3080
I)l~lJone,(i). who II/Me 18 yearn Of age m MdM,
(COMPLETE "A" OR "B" BELOW:)
A. Probate and Grant of Letters and aver that Petitioner(s) is/are the execut rix
Decedent, dated April 27~ 1999 and codicil(s) dated
__ named in the Last Will of the
Except as follows, Decedent did not marry, was not divorced, and did not have a child born or adopted after execution cf the documents offered
for probate; was not the viotim of a killing and was never adjudicated incompetent:
B. Grant of Letters of Administration
Petitioner(s) after a proper search has/have ascertained that Decedent left no Will and was survived by the following spouse
(if any) and heirs:
Name Relationship Residence
(COMPLI: I I= IN ALL CASES:) Attach additional = heats if necessary
Decedent was domiciled at death in Cumberland County, Pennsylvania, with his/her last family or principal
residence at 111 West Windinc~ Hill Road. Mechanicsburg. UDDer Allen TwsD.. Cumberland County. PA 17055
Decedent, then 86 years of age, died' October 20 ,20 01 , at 111 W Windin0 Hill Rd.= M~.c.h~nic..~h,~r0,
Decedent at death owned property with estimated values as follows: Upper Allen Twsp., Cumberland County, PA
(If domiciled in PA) All personal propertV .......... . .................... $ 1,200,000.00
(If not domiciled in PA) Personal property in Pennsylvania ...................... $
(If not domiciled in PA) Personal property in County .......................... $
Value of real estate in Pennsylvania ................................................ $ 600,000.00
Total .............................................................. S 1.80Q.OOD_QQ
Real Estate situated se follows: 111 West Winding Hill Road. Mechanicsburg. Cumberland County, PA
Wherefore, Petitioner(s) respectfully .request(s) the probate of the last Will and Codicil(s) presented with this Petition and the grant of letters in the
appropriate form to the undersigned:
Reqina M. Maqel
111 west Winding Hill Road, Mechanicsbur,q~ PA 17055
R~/-7
/ 7-
. Oath of Personal Representative
Commonwealth of Pennsylvania
County of Cumberland
The Petitioner(s) above-named swear(s) and affirm(s) that the statements in the foregoing Petition are true and
dorrect to the best of.the knowledge and belief of Petitioner{s) and that, as personal representative(s) of the Decedent,
Petitioner(s) will well and truly administer the estate according to law.
Sworn to and affirmed and subscribed
Estate of
also known as
DECREE OF REGISTER
Frank M. Magel
Deceased No. 21-02-216
Social Security No: 125-05-3080
Date of Death: October 20, 2001
AND NOW, ~CH i , 20 02 , in consideration of the Petition
on the reverse side hereon, satisfactory proof having been presented before me,
IT IS DECREED that Letters [] Testamentary [] of Administration
are hereby granted to ._ Regina M. Magel
in the above estate and that the instrument(s), if any, dated A~_ ril27, 1999
described in the Petition be admitted to probate and filed of record as the last Will of Decedent.
FEES
Letters ........................... $ 865.00
Short Certificate(s) .... $
Renunciation .................. $
Affidavit ( ) ................. $
Extra Pages ( ) ............
Codicil .... ' ......................
JCP Fee ........................
Inventory & Tax Forms...
Other.~ ..........................
TOTAL ............ :... $
18.00
45. O0
5.00
933.00
Attorney: Craig A. Hatch, Esquire
I.D. No: 76361
Address: Gates, Halbruner & Hatch, P.C.
1013 Mumma Road, SuRe 100, Lemoyne, PA 17043
Telephone: 717-731-9600
DATE FILED:
~05.805 Rev 9/86
This is to certify that the information here given is correctly copied from an original certificate of death duly filed with me as
Local Registrar. The original certificate will be forwarded to the State Vital Records Office for permanent filing.
WARNING: It is illegal to duplicate this ¢op5, !)5, photostat or photograph.
Fee for this certificate, $2.00
P 7691.657
No.
Date
.~os ;..3.%, 2~a;, COMMONWEALTH OF PENNSYLVANIA. DEPARTMENT OF HEALTH * VITAL RECORDS
CERTIFICATE OF DEATH
~. ~x~ [k.~r Allen ~ I ~ic~ .... 6~ ~nc: I~ ~u,,.~. I(~) ' '
.... Vice President ,,,. ~k C~ ~ ~
~u~ ,,..~.,. Pe~ylvania ,-.~ .
111 West Wi~ng Hill Rd .Es,~ --. ~ ~
~icsb~g, PA 17055 ~. ~)
,.- ~a~ L. ~gel ~~t~~~
~'$ ~e ~",-~ ~'.. ~ttie ~11~
~~t~ g .... ~2~ 111 West Wi~ Hill ~ ~n~ .........
___._ ~ ~ ..... o ~,-~..o .~" I~~-~-~ .......
~ ~ ~t ,. ~es~ut Hill C~t~
~ ~ab U/Ibb7-L 12 ~ ,.__, ......
........... ~'""~ 't ........... Y' ~, PA 17055
.......................................................................................................
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI~
I, FRANK M. MAGEL, now of 111 West Winding Hill Road, Mechanicsburg,
Cumberland County, Pennsylvania 17055, do publish and declare this to be my Last Will and
Testament, hereby revoking all other prior wills and codicils made by me.
FIRST: Family Background and Appointment of Executor.
(A) Family and Background Information. I am married to REGINA M. MAGEL.
Our children are FRANK A. MAGEL and CHRISTINE L. CZARNECKI. Throughout this
Will, REGINA M. MAGEL will be referred to as "my wife" or "my spouse", and FRANK A.
MAGEL and CHRISTINE L. CZARNECKI will be referred to as "our children". The word
"issue" will include our children as well as our other descendants.
(B) Appointment of Executor. I appoint as my Executrix and successor Executor
(all hereinafter referred to as Executrix, Executor or Executors under this Will), the following
named persons or corporations to serve without bond and without being required to account to
any Court:
Executrix: My spouse, REGINA M. MAGEL.
Successor Executor: My son, FRANK A. MAGEL.
SECOND: Funeral and Last Illness Expensesl Taxes.
(A) Expenses of Funeral and Last Illness. Notwithstanding that my spouse survives
me, I direct my Executor to pay my funeral expenses and the expenses of my last illness from my
estate.
(B) Taxes. I direct my Executor to pay any and all estate, inheritance, transfer and
other death taxes or duties, by whatever name called, including any and all interest and penalties
thereon,4mposed under the laws of any jurisdiction by reason of my death, upon or with respect
to a,~}, affd all property included in my gross estate for the purpose of such taxes, whether such
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Page 2
property passes under or outside of this Will. Without any apportionment otherwise required by
law and without being prorated or apportioned among or charged against the respective devises,
legatees, beneficiaries, transferees, or other recipients of any such property or charged against any
property passing or which may have passed to any of them, I direct that any taxes so paid shall be
charged as follows:
(1) If my spouse, REGINA M. MAGEL, survives me, I direct that any taxes
so paid shall be charged entirely against that portion of my residuary estate, if any, which
passes under the provisions of Subparagraph ! of Paragraph A of Article FIFTH (By-Pass
trust) of this my Will, or to the extent, if any, that said portion is insufficient, then against
that portion of my residuary estate, if any, which passes under the provisions of
Subparagraph 2 of Paragraph A of Article FIFTH (Marital Deduction girl) of this my Will;
or,
(2) If my spouse, REGINA M. MAGEL, does not survive me, I direct that
any taxes so paid shall be charged entirely against my residuary estate which passes under
Subparagraph B(2) (or to the extent, if any, that Subparagraph B(2) is insufficient, then
against that portion of my residuary estate, if any, which passes under Subparagraph
(B)(1) or C of Article FIFTH, whichever applies.
My Executor shall not be entitled to reimbursement for any portion of any such taxes from
any such person. The foregoing provisions of this Article SECOND shall not apply to the
following:
(1) The amount, if any, by which taxes, interest and penalties thereon shall be
increased as a result of the inclusion in my gross estate of property (a) in which I may have
a qualifying income interest for life, under Section 2044 of the Internal Revenue Code of
1986 (herein, "IRC") (or the corresponding provisions of any subsequent federal tax laws)
or corresponding provisions of state law, or (b) over which I may have a general power of
appointment under IRC Section 2041 (or the corresponding provisions of any subsequent
federal tax laws) or corresponding provisions of state law, or (c) over which I may have
retained an interest as defined in IRC Section 2036 (or the corresponding provisions of
any subsequent federal tax laws) or corresponding provisions of state law, and any taxes,
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Page 3
interest and penalties on said incremental amount shall either be paid from said property
directly or shall be recovered by my Executor from the person holding or receiving said
property as provided in IRC Sections 2207, 2207A, or 2207B (or the corresponding
provisions of any subsequent federal tax laws);
(2) A generation skipping tax imposed by IRC Chapter 13 or the additional estate
tax imposed by IRC Section 2032A(c) (or corresponding provisions of federal or state law
applicable to my estate and imposing said taxes), and any and all interest and penalties on
said Chapter 13 and IRC Section 2032A(c) and comparable state taxes; and
(3) Such portion or portions of said taxes, interest and penalties which may be
required to be paid by the Trustee of the Trusts described below, in Articles SEVENTH
and EIGHTH.
THIRD: Taneible Personal Property. Except for those items excluded below and
those items enumerated in the Letter of Instruction, I bequeath to my spouse, REGINA M.
MAGEL, all tangible personal property, including but not limited to clothing, jewelry, heirlooms,
furniture, household furnishings, personal effects, motor vehicles, and all other similar articles,
which I own, and the insurance thereon, if my spouse survives me by sixty (60) days. Tangible
personal property shall not include: (1) any and all property used by me in any business, (2) cash
on hand or on deposit in banks, (3) stock or securities, (4) any type of evidence of indebtedness,
and (5) any life, health or accident insurance policies.
If my spouse does not survive me by sixty (60) days, I bequeath such tangible personal
property to our children, if they are living on the sixty-first (61 st) day after my death. If my
spouse and our children do not survive me by sixty (60) days, I leave such tangible personal
property to our issue, per stirpes. If there is any disagreement as to distribution, I direct my
Executor to make such distribution. The decision of my Executor shall be final and binding. Any
items not selected or any items which my Executor considers unsuitable for my issue may be
distributed or sold in the sole discretion of my Executor and if sold, the net proceeds therefrom
shall be added to the residue of my estate. Any such article allocated to a minor may, as my
Executor deems advisable, either be delivered to the minor or to any person to safeguard on
beh~lf of the minor.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Page 4
Notwithstanding any other provisions in this Article THIRD, I may leave a separate, dated
and unsigned Letter of Instruction, which I shall place with my Will, containing directions as to
the ultimate disposition of certain of the property bequeathed under this Article THIRD, and such
Letter of Instruction shall determine the distribution of such items.
FOURTH: (THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
FIFTH:
By-Pass and Marital Deduction Gifts,
(A) If my spouse, REGINA M. MAGEL, survives me, I give, devise and bequeath all
the rest, residue and remainder of my estate, of every kind and character, real, personal and
mixed, tangible and intangible, and wherever situated, including any lapsed or renounced legacies,
devises or residuary bequests, as follows:
(1) By-Pass Amount. (a) I give, devise and bequeath to my Trustee,
hereinafter named, a fraction of my residuary estate which shall be determined as follows:
The numerator of the fraction shall be the largest amount that can pass free of any
federal estate tax (i) as a result of the allowance of the Unified Credit under IRC Section
2010, (or the corresponding provisions of any subsequent federal tax law) and the State
Death Tax Credit under IRC Section 2011, (or the corresponding provisions of any
subsequent federal tax law) but only to the extent that the use of the State Death Tax
Credit does not incur or increase any state death taxes otherwise payable by my estate, and
(ii) after taking into account the value of any and all bequests or transfers which do not
qualify for the marital or charitable deduction, and (iii) after giving effect to all charges
against principal that are not allowed as deductions in computing my federal estate tax,
and (iv) after giving effect to all administration and other expenses claimed on the estate
tax return, and (v) after taking into account any prior adjusted taxable gifts; and
The denominator of which shall be the value of my residuary estate as finally
determined for federal estate tax purposes.
(b) If any girl, bequest, or devise, whether or not out of the residue of my
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 5
estate, is renounced, then the renounced giR, bequest or devise shall be added to this
Trust, even though an amount in excess of the By-Pass amount is transferred into this
Trust.
(c) My Trustee shall hold the property given to my Trustee by this
Subparagraph 1, in Trust, such Trust to be known as and herein referred to as the
"FRANK M. MAGEL BY-PASS TRUST," to and for the purposes described below.
(2) Marital Deduction. I give, devise and bequeath the balance, if any, of my
residuary estate to my spouse, REGINA M. MAGEL.
(B) If my spouse, REGINA M. MAGEL, does not survive me, I give, devise and
bequeath all the rest, residue and remainder of my estate, of every kind and character, real,
personal and mixed, tangible and intangible, and wherever situated, including any lapsed or
renounced legacies, devises or residuary bequests (but excluding any property over which I may
have a Power of Appointment), to our children, FRANK A. MAGEL and CHRISTINE L.
CZARNECKI, in the following shares and amounts:
(1) I give the amount of FIFTY FIVE THOUSAND DOLLARS ($55,000.00) to
my son, FRANK A. MAGEL.
(2) Any real estate that I own or otherwise have an interest in at my death shall be
held, 1N TRUST, for the lifetime benefit and enjoyment of my son, FRANK A.
MAGEL, provided that he shall be responsible for taxes, fees, insurance and other
costs, fees or expenses of using or benefitting from such real estate, until such time
as he moves, rents, dies, or subdivides the real estate. If and in the event that he
moves, rents, dies, or subdivides the real estate, the net proceeds from the
subsequent rent, sale, subdivision or other use of the real estate shall be divided
equally between FRANK A. MAGEL and CHRISTINE L. CZARNECKI.
(3) The remaining balance shall be distributed, in equal shares, to FRANK A.
MAGEL and CHRISTINE L. CZARNECKI, per capita. If and in the event that
both of my children should predecease this distribution, then this distribution shall
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 6
be made to the issue of my children, in equal shares, per stirpes.
(C) Distributions during Administration. Prior to final distribution of my estate, the
Executor, in his discretion, may make partial distributions to one or more beneficiaries or Trusts.
As a consequence, the Executorship and any Trusts created under this Will may exist
contemporaneously. A distribution may be made subject to any indebtedness or liability of my
estate.
SIXTH:
(THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
SEVENTH: Frank M. Magei By-Pass Trust.
(A) The gift to the Trustee of the FRANK M. MAGEL BY-PASS TRUST shall
constitute the Trust Estate of a Trust for the primary benefit of my spouse and my children.
(B) Distributions During my Spouse's Lifetime. The Trustee shall distribute to, or
for the benefit of, my spouse, REGINA M. MAGEL, for and during my spouse's lifetime, all of
the net income from this Trust, in such periodic installments as the Trustee and my spouse shall
agree. The Trustee shall pay to, or for the benefit of, my spouse, at any time or times and from
time to time, such sums from or any part or all of the principal as my Trustee may, in its sole
discretion, determine to be reasonably necessary for my spouse's health, education, support, and
maintenance, and the expenses of any illness or accident which may affect my spouse.
(C) Broad Special Power of Appointmenl. My spouse, REGINA M. MAGEL, is
hereby granted the special power to appoint, at any time and from time to time, the principal of
this Trust in whole or in part and in any manner and in such proportions as she deems advisable to
whomever she desires. This power shall not be exercisable under her Will. This special power of
appointment does not grant to my spouse the power to appoint the principal of this Trust to
herself, her estate, her creditors or the creditors of her estate, nor to appoint the principal of this
Trust for the health, education, support, or maintenance of any of my issue whom I or my spouse
is legally obligated to support or maintain. If my spouse fails, either in whole or in part, to
exercise this special power of appointment herein granted, the unappointed principal shall
continue in trust and shall be administered according to the terms of this Trust.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 7
(D) Limited General Power of Appointment. My spouse, REGINA M. MAGEL.,
is hereby granted the general power to appoint a maximum amount of the principal of this Trust
to herself, her estate or any other individual, in such proportions and upon such terms (in trust,
outright gifts or in any other manner), as she deems advisable. The maximum amount which my
spouse may appoint under this paragraph, per calendar year, shall be the greater of $5,000 or five
(5%) percent of the entire principal of this Trust. At the end of each calendar year, her right to
appoint the maximum amount shall lapse, if' not exercised, and the unused maximum amount shall
not accumulate. This power shall not be exercisable under her Will. If my spouse fails, either in
whole or in part, to exercise this general power of appointment herein granted, the unappointed
principal shall continue in trust and shall be administered according to the terms of' this Trust.
(E) Subsequent Distributions. Upon the death of my spouse, this Trust shall
terminate. Upon termination, the remaining trust estate shall be distributed to our children,
FRANK A. MAGEL and CHRISTINE L. CZARNECKI, in the following shares and amounts:
(1) Any real estate that I own or otherwise have an interest in at my death shall be
held, IN TRUST, for the lifetime benefit and enjoyment of my son, FRANK A.
MAGEL, provided that he shall be responsible for taxes, fees, insurance and other
costs, fees or expenses of using or benefitting from such real estate, until such time
as he moves, rents, dies, or subdivides the real estate. If and in the event that he
moves, rents, dies, or subdivides the real estate, the net proceeds from the
subsequent rent, sale, subdivision or other use of the real estate shall be divided
equally between FRANK A. MAGEL and CHRISTINE L. CZARNECKI.
(2) The remaining balance shall be distributed, in equal shares, to FRANK A.
MAGEL and CHRISTINE L. CZARNECKI, per capita. If and in the event that
both of my children should predecease this distribution, then this distribution shall
be made to the issue of my children, in equal shares, per stirpes.
(F) Distributions during Administration, Prior to final distribution of my estate, the
Executor, in his discretion, may make partial distributions to one or more beneficiaries or Trusts.
As a consequence, the Executorship and any Trusts created under this Will may exist
contemporaneously. A distribution may be made subject to any indebtedness or liability of my
//
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Page 8
estate.
EIGHTH: (THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
NINTH: Appointment of Trustee and Successor Trustees.
(A) Nomination. I nominate, constitute and appoint FRANK A. MAGEL, to act as
Trustee of all Trusts created by my Will.
(B) Compensation. The Trustee shall receive as its compensation for the services
performed hereunder that sum of money, based on an hourly charge or percentage rate, which the
Trustee normally and customarily charges for performing similar services during the time which it
performs these services.
(C) Removal of Trustee. A majority of the current beneficiaries may remove the
Trustee, at any time or times, with or without cause, upon thirty (30) days' written notice given to
the Trustee. Upon the removal of the Trustee, a successor Trustee shall be appointed in
accordance with the terms set forth in Paragraph NINTH(D).
(D) Appointment of Successor Trustee. The Trustee may resign at any time upon
thirty (30) days' written notice given to the current beneficiary or beneficiaries (including a
beneficiary's natural or legal guardian or legal representative), hereunder. Upon the death,
resignation, removal or incapacity of the Trustee, a successor trustee may be appointed by a
majority of the current beneficiaries. Any successor trustee shall be a financially sound and
competent corporate trustee or my issue. Any successor trustee thus appointed, or, if the Trustee
shall merge with or be consolidated with another corporate fiduciary, then such corporate
fiduciary, shall succeed to all the duties and to all the powers, including discretionary powers,
herein granted to the Trustee.
TENTH: (THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
ELEVENTH: Powers of Trustee and Executor. In addition to the powers and duties as
may have been granted elsewhere in this Will, but subject to any limitations stated elsewhere in
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Page 9
this Will, the Executor and Trustee shall have and exercise exclusive management and control of
the Estate or Trusts, respectively, and shall be vested with the following specific powers and
discretion, in addition to the powers as may be generally conferred from time to time upon them
by law:
(A) In the management, care and disposition of the Trusts or Estate, the Trustee and
Executor, respectively, shall have the power to do all things and to execute such instruments,
deeds, or other documents as may be deemed necessary or proper, including the following .
powers, all of which may be exercised without order of or report to any Court:
(1) To sell, exchange or otherwise dispose of any property at any time held or
acquired hereunder, at public or private sale, for cash or on terms, without advertisement,
including the right to lease for any term notwithstanding the period of the Trust, and to
grant options, including any option for a period beyond the duration of the Trust; except
that, in lieu of any binding shareholder agreement or buy/sell agreement to the contrary,
the Executor and Trustee shall not be permitted to sell the stock or any other ownership
interest in any business owned by me, or my spouse, or held in trust, at my death, without
first offering the same for sale to my children, or without next offering the same to the
corporation or business represented by such ownership interest for redemption.
(2) To invest all monies in such stocks, bonds, securities, mortgages, notes,
choses in action, real estate or improvements thereon, and any other property as the
Trustee or Executor may deem best, without regard to any law now or hereafter enforced
limiting investments of fiduciaries, except that the Trustee or Executor may not invest in
any securities issued by the corporate Trustee or Executor, or issued by a parent or
affiliate company of such Trustee or Executor.
(3) To retain for investment any property deposited with the Trustee or Executor
hereunder~ except that the Trustee or Executor may not retain for investment any stock in
the corporate Trustee or Executor, or in a parent or affiliate company of such Trustee or
Executor.
(4)
To vote in person or by proxy any corporate stock or other security and to
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Pa~e 10
agree to or take any other action in regard to any reorganization, merger, consolidation,
liquidation, bankruptcy or other procedure or proceedings affecting any stock, bond, note
or other security.
(5) To use attorneys, real estate brokers, accountants and other agents, if such
employment is deemed necessary or desirable, and to pay reasonable compensation for
their services.
(6) To compromise, settle or adjust any claim or demand by or against the Trusts
or Estate and to agree to any rescission or modification of any contract or agreement
affecting the Trusts or Estate.
(7) To renew any indebtedness, as well as to borrow money, and to secure the
same by mortgaging, pledging or conveying any property of the Trusts or Estate, including
the power to borrow from the Trustee at a reasonable rate of interest.
(8) To retain and carry on any business in which the Trusts or Estate may acquire
an interest, to acquire additional interest in any such business, to agree to the liquidation in
kind of any corporation in which the Trusts or Estate may have an interest and to carry on
the business thereof, to join with other owners in adopting any form of management for
any business or property in which the Trusts or Estate may have an interest, to become or
remain a partner, general or limited, in regard to any such business or property and to hold
the stock or other securities as an investment, and to employ agents and confer on them
authority to manage and operate the business, property or corporation, without liability for
the acts of such agent or for any loss, liability or indebtedness of such business if the
management is selected or retained with reasonable care.
(9) To register any stock, bond or other security in the name of a nominee,
without the addition of words indicating that such security is held in a fiduciary capacity,
but accurate records shall be maintained showing that such security is a Trust or Estate
asset and the Trustee or Executor shall be responsible for the acts of such nominee.
Whenever the Trustee or Executor is directed to distribute any Trust principal or
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Pace 11
Estate assets in fee simple to a person who is then under twenty-five (25) years of age, the
Trustee or Executor shall be authorized to hold such property in Trust for such person until
he/she becomes twenty-five (25) years of age, and in the meantime shall use such part of the
income and the principal of the Trusts or Estate as the Trustee or Executor, respectively, may
deem necessary to provide for the proper support and education of such person. If such person
should die before becoming twenty-five (25) years of age, the property then remaining in trust
shall be distributed to the personal representative of such person's estate.
(C) In making distributions from the Trusts or Estate to or for the benefit of any minor
or other person under a legal disability, the Trustee or Executor need not require the appointment
of a guardian, but shall be authorized to pay or deliver the same to the custodian of such person,
to pay or deliver the same to such person without the intervention of a guardian, to pay or deliver
the same to a legal guardian of such person if one has already been appointed, or to use the same
for the benefit of such person.
(D) In the disbursement of the Trusts or Estate and any division into separate trusts or
shares, the Trustee or Executor shall be authorized to make the distribution and division in money
or in kind, or both, regardless of the basis for income tax purposes of any property distributed or
divided in kind, and the distribution and division made and the values established by the Trustee
or Executor shall be binding and conclusive on all persons taking hereunder. The Trustee or
Executor may in making such distribution or division allot undivided interests in the same
property to several trusts or shares.
(E) The Trustee and Executor shall be authorized to lend or borrow, including the
right to lend to or borrow from any trusts which I may have established during life or by will at an
adequate rate of interest and with adequate security, and upon such terms and conditions as the
Trustee or Executor shall deem fair and equitable.
(F) The Trustee and Executor shall be authorized to sell or purchase at the fair market
value as determined by the Trustee or Executor, any property to or from my estate, the estate of
my spouse, or any trust created by me or my spouse during life or by Will, even though the same
person or corporation may be acting as Executor of my estate or the estate of my spouse or as
Trustee of any of my other trusts.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Pa~,e 12
(G) The Trustee and Executor shall have discretion to determine whether items should
be charged or credited to income or principal or allocated between income and principal as the
Trustee or Executor may deem equitable and fair under all the circumstances, including the power
to amortize or fail to amortize any part or all of any premium or discount, to treat any part or all
of the profit resulting from the maturity or sale of any asset, whether purchased at a premium or
at a discount, as income or principal or apportion the same between income and principal, to
apportion the sales price of any asset between income and principal, to treat any dividend or other
distribution of any investment as income or principal, or apportion the same between income and
principal, to charge any expense against income or principal or apportion the same, and to provide
or fail to provide a reasonable reserve against depreciation or obsolescence on any assets subject
to depreciation or obsolescence, all as the Trustee and Executor may reasonably deem equitable
and just under all the circumstances.
(H) If at any time the total fair market value of the assets of any trust established or to
be established hereunder is so small that the corporate Trustee's annual fee for administering the
trust would be the minimum annual fee set forth in the Trustee's regularly published fee schedule
then, in effect, the Trustee in its discretion shall be authorized to terminate such trust or to decide
not to establish such trust, and in such event the property then held in or to be distributed to such
trust shall be distributed to the persons who are then or would be entitled to the income of such
trust. If the amount of income to be received by such persons is to be determined in the discretion
of the Trustee, then the Trustee shall distribute the property among such of the persons to whom
the Trustee is authorized to distribute income, and in such proportions, as the Trustee in its
discretion shall determine.
(I) When the authority and power under this Will are vested in two (2) or more
Executors or Trustees, the authority and powers are to be held jointly or individually by the
Executors or Trustees, respectively.
(J) The Trustees shall be subject to the Uniform Prudent Investor Act (the "UPIA") as
if the UPIA had been enacted in the Commonwealth of Pennsylvania in the form promulgated by
the Commission on the Uniform State Laws in its exercise if any power to manage and invest the
assets of the trust. The Testator desires that the Executor and Trustees, consistent with the
standards of the UPIA, continuously assess the appropriate investment risk tolerance of the trust
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Page 13
beneficiaries, and then invest the trust assets seeking the maximum total return at that level of
risk. The Testator believes, consistent with modern portfolio theory, that the estate and trust total
investment return will be determined primarily by the trust's asset allocation; not market timing or
active management in security selection. The Testator believes that the estate and trust should
diversify its investments with regard to assets classes and individual securities to avoid
uncompensated risk. The Testator does not intend to prohibit the Executor or Trustees from
engaging in active management of estate or trust assets where the Executor or Trustees
reasonably believe active management can aid in achieving the desired balance between risk and
return.
The Testator directs that any Executor or Trustee, in managing and investing the assets of
the trust estate, establish, in writing, an appropriate investment policy statement. The investment
policy statement shall be reviewed and updated at least annually.
The Executor and Trustees may retain professional investment counsel of the Executor's
and Trustees' choice; provided, however, a counsel so selected shall be either registered as an
investment adviser with the U.S. Securities and Exchange Commission or a state chartered or
national bank with fiduciary powers. If investment counsel is retained, the Executor and Trustees
shall abide by the counsel's decision but shall not be held liable or otherwise surcharged for losses
directly attributable to investments made on the investment counsel's advise. While the Executor
or Trustees retain investment counsel, the Executor and Trustees shall not be required to review
trust investments or take action on trust investments unless the Trustees receive written
instructions from investment counsel.
The Executor and Trustees shall have the power exercisable in their discretion to
discharge such investment counsel and to employ other counsel or to administer the trust without
such counsel. Consistent with the standards of the UPIA, the Executor and Trustees shall have
the responsibility to prudently select any investment counsel, to periodically review the
performance of any investment counsel and to take appropriate action if apprised of facts clearly
indicating that counsel is not performing competently.
The Executors and Trustees shall not be liable to any beneficiary or to any heir for the
Executor's or Trustees' acts or failure to act, except for willful misconduct or gross negligence, in
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEI,
Pa~e 14
directing the investments of the trust.
TWELFTH: Rights and Liabilities of Executor and Trustee.
(A) No bond or other security shall be required of any Executor.
(B) This instrument always shall be construed in favor of the validity of any act or
omission by any Executor or Trustee, and any Executor or Trustee shall not be liable for any act
or omission except in the case of gross negligence, bad faith or fraud. Specifically, in assessing
the propriety of any investment, the overall performance of the entire trust shall be taken into
account.
(C) The Executor shall be entitled to receive reasonable compensation for services
actually rendered to my estate, in an amount the Executor normally and customarily charges for
performing similar services during the time which he performs the services.
THIRTEENTH: Tax Elections.
(A) General Elections. In determining the estate, inheritance and income tax liability
relating to my Estate, the Executor's decision as to all available tax elections shall be conclusive
on all concerned. If the Executor joins with my spouse in filing income tax returns, or consenting
for girl tax purposes to having git~s made by either of us during my life considered as having been
made one-half by each of us, any resulting liability shall be borne by my Estate and my spouse in
such proportions as they may agree. In accordance with IRC Section 2632(a) and without regard
to whether a Federal estate tax return is actually filed, my Executor shall allocate so much of the
Federal Generation Skipping Transfer (GST) exemption amount as will fully exempt any
generation skipping transfer which may occur under this Will.
(B) Valuation. The Executor may, in its discretion, determine the date as of which my
gross estate shall be valued for the purpose of determining the applicable tax payable by reason of
my death.
(C) Deductions. The Executor may, in its discretion, decide whether all or any part of
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 15
certain deductions shall be taken as income tax deductions (even though they may equal or exceed
the taxable income of my estate and whether or not claimed or of benefit on my estate's income
tax return) or as estate tax deductions when a choice is available; and in the event that all or any
part of such deductions are taken as income tax deductions, no adjustment of income and
principal accounts in my estate shall be made as a result of such decisions.
FOURTEENTH: Definitions and General Provisions,
(A) Survival. Any beneficiary, including my spouse, who dies within sixty (60) days
after my death shall be considered not to have survived me.
(B) Trust Estate. "Trust Estate" means all assets, however and wherever acquired,
including income, which may belong to a Trust at any given time.
(C) Children. Except for discretionary distributions which may be made unequally
among a group of persons and distributions pursuant to a valid exercise of a Power of
Appointment, in making a distribution to the children of any person, the property to be distributed
shall be divided into as many shares as there are living children of the person and deceased
children of the person who left children who are then-living Each living child shall take one share
and the share of each deceased child shall be divided among his then-living descendants in the
same manner. A posthumous child shall be considered as living at the death of his parent.
(D) Code. Unless otherwise stated, all references in my Will to section and chapter
numbers are to those of the Internal Revenue Code of 1986, as amended, or the corresponding
provisions of any subsequent federal tax laws applicable to my estate.
(E) Other terms. The use of any gender includes the other genders, and the use of
either the singular or the plural includes the other.
(F) Captions. The captions set forth in this Will at the beginning of the various divisions
hereof are for convenience of reference only and shall not be deemed to define or limit the
provisions hereof or to affect in any way their construction and application.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 16
(G) Powers of Appointment. IfI predecease my spouse, then by this Will I fully
exercise the General Power of' Appointment reserved to me in Paragraphs 4.02 and 10.02(B) of'
THE MAGEL FAMILY REVOCABLE TRUST dated April 27, 1999. In so doing, I hereby
appoint the entire principal and accrued income of' said trust to my estate to be held, administered
and distributed in accordance with the terms of.this my Last Will and Testament. By this Will, I
do not exercise any other Power of Appointment.
IN WITNESS WHEREOF, I, FRANK M. MAGEL, the Testator, have to this my Last
Will and Testament, typewritten on seventeen (17) pages, including the Acknowledgment and
Affidavit, set my hand and seal this 27th day of' April, 1999.
Signed, sealed, published and declared by the above-named Testator, as and for his Last Will and
Testament, in the presence of.us, who have hereunto subscribed our names at his request, as
witnesses hereto, in the presence of the said Testator, and in thc presence of' each other. Each of'
us further declares that he or she believes the Testator to be of. sound mind and memory. The
preceding instrument consists of' this and sixteen (16) other consecutively numbered typewritten
pages including the Acknowledgment and Affidavit.
(print name)
(print name)
residing at _ .~,//~,e~'~/,~ ,~
ACKNOWLEDGMENT AND AFFIDAVIT
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF
SS:
The Testator and the witnesses whose names are signed and subscribed to the attached or
foregoing instrument, being first duly sworn and qualified according to law, do hereby
acknowledge, depose and say to the undersigned authority, that the Testator signed and executed
the instrument as his Last Will in the presence of the witnesses; that he signed it willingly or
willingly directed another to sign it for him; that he executed it as his free and voluntary act for
the purposes therein expressed; that each of the witnesses were present and saw the Testator sign
and execute the instrument as his Last Will; that each subscribing witness in the hearing and sight
of the Testator signed the will as witnesses; and that to the best of their knowledge the Testator
was at that time eighteen years of age or older, of sound mind and under no constraint or undue
influence.
Witness
Sworn to or affirmed, sub,~4c, ribed to, and acknowledged, before me by the above-named
Testator and witnesses, this e~'~' ~gday of April, 1999.
Notary Public
My Commission Expires:
Notarial Seal
Tra¢i L. Sepkovic, Notary Public
Carlisle Bore. Cumberland County
My Commission Expires May 31,199~9
CERTIFICATION OF NOTICE UNDER RULE 5.6 (a)
Name of Decedent:
Date of Death:
File No.:
Frank M. Magel
October 20, 2001
21-02-0216
To the Register:
I certify that notice of estate administration required by
Rule 5.6(a) of the Orphans' Court Rules was served on or mailed to
the following beneficiaries of the above-captioned estate on May
2002.
Name Address
Regina M. Magel
111 West Winding Hill Road
Mechanicsburg, PA 17055
Regina M. Magel, Trustee
Frank M. Magel By-Pass Trust
Under Will
111 West Winding Hill Road
Mechanicsburg, PA 17055
Notice has now been given to all persons entitled thereto under
Rule 5.6(a
CraCfg A. Hatch, Esquire
Counsel for Personal Representative
GATES, HALBRUNER & HATCH, P.C.
1013 Mumma Road, Suite 100
Lemoyne, PA 17043
(717) 731-9600
Dated: Ma~ f/
, 2002
Register of Wills Cumberland County, pennsylvania
PETITION FOR GRANT OF LETTERS
Estate of
Frank M. Magel No, 21-02-0216
also known as.
, Deceased
Frank A. Magel,
Social Security No. 125-05-3080
(COMPLETE "A" OR "B" BELOW:)
Successor
[~ A. Probate and Grant of Letters and aver that Petitioner(s) is/are the execut or
Decedent, dated April 27, 1999 and codicil(s) dated
named in the Last Will of the
Except as follows, Decedent did not marry, was not divorced, and did not have a child born or adopted after execution of the documents offered
for probate; was not the victim of a killing and was never adjudicated incompetent:
B. Grant of Letters of Administration
Petitioner(s) after a proper search has/have ascertained that Decedent left no Will and was survived by the following spouse
(if any) and heirs:
Name Relationship Residence'
(COMPLETE IN ALL CASES:) Attaoh additional = heats if necessary.
Decedent was domiciled at death in Cumberland _ County, Pennsylvania, with his/her last family or principal
residence at 111 West Winding Hill Road, Mechanicsburg~ Upper Allen Twsp., Cumberland County, PA 17055
Decedent, then 86 years of age, died' October 20 ,200~1, at 111 W. Wind n.q Hill Rd., Mechanicsbur.q,
Upper Allen Twsp., Cumberland County, PA
Decedent at death owned property with estimated values as follows:
(If domiciled in PA) All personal property .......... . ................ ~... $ 1,200,000.00
(If not domiciled in PA) Personal property in Pennsylvania ...................... $
(If not domiciled in PA) Personal property in County .......................... $
Value of real estate in Pennsylvania ~UU,UUU.UU
Total 1
.................. . ........................................ $ ~800 000.00
Real Estate s rusted as follows: 1 1 1 West Winding Hi Road, Uechan csbur9, Cumberland County, PA t
Wherefore, Petitioner(s) respectfully .request(s) the probate of the last Will end Codicil{s) presented with this Petition and the grant of letter~ in the
appropriate form to the undersigned:
Signature Typed or printed name and residence
Frank A. Magel
West Winding Hill Road, Mechanicsburg, PA 17050
RI~-7
Oath of Personal Representative
Commonwealth of Pennsylvania
County of Cumberland
The Petitioner(s) above-named swear(s) and affirm(s) that the statements in the foregoing Petition are true and
6orrect to the best of.the knowledge and belief of Petitioner(s) and that, as personal representative(s) of the Decedent,
Petitioner(s) will well and truly administer the estate according to law.
Sworn to and affirmed and subscribed
before me this 2 i st day of
2002
Frank A. Magel
Estate of
also known as
DECREE OF REGISTER
Frank M. Magel
Deceased No. 21-02-0216
Social Security No: 125-05-3080 Date of Death: O(~"er 20, 2001
AND NOW, Q-UN~ 28, 2002 , 20 , in consideration of the Petition
on the reverse side hereon, satisfactory proof having been presented before me,
IT IS DECREED that Letters [] Testamentary [] of Administration
are hereby granted to Frank A. Magel .:.:~
in the above estate and that the instrument(s), if any, dated April 27, 1999 ?-
described in the Petition be admitted to probate and filed of record as the last Will of Decedent.
FEES
Letters ........................... $ 25.00
Short Certificate(s) ..........
Renunciation ..................
Affidavit ( ) .................
Extra Pages ( ) ............
Codicil .... ' ......................
JCP Fee ........................
Inventory & Tax Forms...
Other.~ ..........................
NC
TOTAL ............ ~... $ 30.00
~ ~ atty 6-28-02
Attorney: Craig A. Hatch, Esquire
I.D. No: 76361
Address: Gates, Halbruner & Hatch, P.C,
1013 Mumma Road, Suite 100, Lemoyne, PA 17043
Telephone: 717-731-9600
DATE FILED: 6-28-02
Register of Wills Cumberland County, Pennsylvania
RENUNCIATION
Estate of Frank M. Magel
also known as
, Deceased
No. 21-02-0216
The undersigned, Regina M. Magel, spouse/Executrix
(Relationship) (Capacity)
the above Decedent, h. ereby renounce(s) the right to administer the estate and respectfully request(s) mat
Letters Testamentary be issued to Frank A. Magel
Witness her hand this 21st day of June
2002
{~;iQ~ature)
111 West Winding Hill Road, Mechanicsburg, PA 17055
(Address)
'(Signature)
(Address)
(Signature)
{Address)
Sworn to or affirmed and subscribed
before me this 21st day of
June , 2002
Nota~r Public ~
My Comrnission Expires:
Notadal Seal
Ted L. Walker, Notary Public
Lemoyne Bom Cumberland County
My Commission' Expires Jan. 20, 2003
Member, PennsyNania Association of Notaries
NOTE:
Renunciations execu[ed ou[slde the Office of Register of
Wills are required in some coun.e$ to be notarized.
of
RW-1) (Rvsd 9/92)
PLEASE FILE THIS REPORT WITHIN TWO YEARS OF DATE OF DEATH REGARDLESS OF
THE STATUS OF THE ESTATE. IF ESTATE IS NOT COMPLETED, FILE FORM 6.12 YEARLY
UNTIL COMPLETION.
Name of Decedent:
Date of Death:
Will No.:
STATUS REPORT UNDER RULE 6.12
Frank M. Magel
October 20, 2001
21-02-0216
Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with
respect to completion of the administration of the above-captioned estate:
1. State whether administration of the estate is complete: No
If the answer is No, state when the personal representative reasonably believes that the
administration will be complete: March 2003
3. If the answer to No. I is yes, state the following:
A. Did the personal representative file a final account with the court? N/A
The separate Orphans' Court No. (if any) for the personal representative's
account is: N/A
Co
Did the personal representative state an account informally to the parties in
interest? N/A
Do
Copies of receipts, releases, joinders and approvals of formal or informal
accounts may be filed with the Clerk of Orphans' Court and may be attached to
this report.
Date: July 29,~2002
Cr~A. Hatch, Esquire
'PA I.D. #76361
GATES, HALBRUNER & HATCH, P.C.
1013 Mumma Road, Suite 100
Lemoyne, PA 17043
(717) 731-9600
Capacity: Counsel for Personal Representative
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPT. 280601
HARRISBURG, PA 17128-0601
RECEIVED FROM:
PENNSYLVANIA
INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
NO.
REV-1162 EX(11-96)
CD 001 434
REGINA M MAGEL
111 WEST WINDING HILL ROAD
MECHANICSBURG, PA 17055
........ fold
ESTATE INFORMATION: SSN: 125-05-3080
FILE NUMBER: 2102-021 6
DECEDENT NAME: MAGEL FRANK M
DATE OF PAYMENT: 07/22/2002
POSTMARK DATE: 00/00/0000
COUNTY: CUMBERLAND
DATE OF DEATH: 10/20/2001
ACN
ASSESSMENT
CONTROL
NUMBER
AMOUNT
101 $1 9,000.00
REMARKS:
REGINA M MAGEL
TOTAL AMOUNT PAID:
9,000.00
SEAL
CHECK# 700
INITIALS: SK
RECEIVED BY'
MARY C. LEWIS
REGISTER OF WILLS
REGISTER OF WILLS
COMMONWEALTH OF
PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG, PA 17128~)601
INHERITANCE TAX RETURN i 21 _ 02
RESIDENT DECEDENT I
ONLY
0216
~E~
Z
Z
O
(/3
O
Ltl
DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
Magel, Frank M.
DATE OF DEATH (MM-DD-YEAR) DATE Of BIRTH (MM-DD-YEAR)
10/20/01 11/02/14
IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURITY NUMBER
Magel, Regina M.
SOCIAL SECURITY NUMBER
1 25-05-3080
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
r~l. Odginal Return [~ 2. Supplemental Return
~] 4. Limited Estate ~] 4a. Future interest Compromise (date of death after 12-12-82)
E~ 6. Decedent Died Testate (Atach copy of Wi,) [] 7. Decedent Maintained a Living Trust (At,ch copy of Trust)
[] 9. Litigation Proceeds Received [-~ 10. Spousal Poverty Credit (date of death be{wean 12-31-91 and 1-1-95)
NAME
Craig A. Hatch, Esquire
FIRM NAME (IfApplicable)
Gates, Halbruner & Hatch, P.C.
TELEPHONE NUMBER
(717) 731-9600
r--i3. Remainder Return (date of death pdor to 12-13-82)
E~5. Federal Estate Tax Return Required
8. Total Number of Safe Deposit Boxes
E~11. Election to tax under Sec. 9113(A) (^tach Scm O)
COMPLETE MAILING ADDRESS
1013 Mumma Road, Suite 100
Lemoyne, PA 17043
1. Real Estate (Schedule A) (1)
2. Stocks and Bonds (Schedule B) (2)
3. Closely Held Corporation, Padnership or Sole-Proprietorship (3)
4. Mortgages & Notes Receivable (Schedule D) (4)
5. Cash, Bank Deposits & Miscellaneous Personal Property (5)
(Schedule E)
6. Jointly Owned Property (Schedule F) (6)
[---I Separeta Billing Requested
7. Inter-Vivos Transfers & Miscellaneous Non-Probata Property (7)
(Schedule G or L)
8. Total Gross Assets (total Lines 1-7)
9. Funeral Expenses & Administrative Costs (Schedule H) (9)
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10)
11. Total Deductions (total Lines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been
made (Schedule J)
14. Net Value Subject to Tax (Line 12 minus Line 13)
0.00
0.00
0.00
0.00
0.00
16,748.03
1,862,546.55
(8)
102,321.24
153,112.12
(11)
(12)
(13)
(14)
OFFiCIAl.. USE ONLY
1,879,294.58
255,433.36
1,623,861.22
0.00
1,623,861.22
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
15. Amount of Line14 taxable at the spousal tax 896,687.31 x .0 0 (15)
rate, or transfers under Sec. 9116 (a)(1.2) --
16. Amount of Line 14 taxable at lineal rate 727,173.91 x .0 45 (16)
17. Amount of Line 14 taxable at sibling rate 0.00 x .12 (17)
18. Amount of Line 14 taxable at collateral rate 0.00 x .15 (18)
19. Tax Due (19)
0.00
32,722.83
0.00
0.00
32,722.83
PA REV-1500 EX (6-00)
Decedent's Complete Address:
ISTREETADDRESS
111 West Windin~ Hill Road
CITY
STATE
PA
[ ZIP
17055
Tax Payments and Credits:
1. Tax Due (Page 1 Une 19) (1)
2. Credits/Payments
A. Spousal Poverty Credit 0 o 00
B. Pdor Payments 18,000.00
C. Discount 0.00
32,722.83
Interest/Penalty if applicable
D. Interest
E. Penalty
Total Credits (A + B + C) (2)
18,000.00
~,~, .28
0.00
Total Interest/Penalty (D + E) (3) 444.28
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund (4)
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 15,167.11
A. Enter the interest on the tax due. (SA) 0.00
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5B) 15w 167.11
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
~L retain the use or income of the property transferred; ....................................... ~ ~
b. retain the right to designate who shall use the property transferred or its income; .................
c. retain a reversionary interest; or ........................................................
d. receive the promise for life of either payments, benefits or care? ..............................
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? ................................................... ~ ~
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? ...
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ........................................................ ~ D
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,
YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
Under penalties of perjury I declare that I have examined this return, including accompanying schedules and statements, and to the best of my
knowledge and behef it is true, correct and complete. Declaration of preparer other than the personal representative is based on information of
which preparer has any know edge.
~rTURE OF PEPS_ ON .R~O_NSIBLE FO~ FILING RETURN DATE
/
A-DDR~ 1013 Mumma Ro&d~Suite 100 ' ' '/
Lemoyne, PA 170&3
SIGNATURE OF PREPARER .OT~JER~TH~EPRESENTATIVE DATE
~ord~tesofdeatbonorafterduly ~994andbe~re~a~uar~995~tbetaxrate~mp~sed~t~enetw~ue~ftraasferst~rf~rt~euse~t~esu~v~n9 P
[%~ 9.~. s 9~ ~ (a)(~.~)(i)].
~o ~ dates of deat~ on or a~ter daauary ~, ~ 995, the tax rate is imposed on t~e aet value ol traasfers to ar lot t~e use of the survivia9 spouse is 0% [~2 ~.S. ~ 9~ ~6 (a) (~.~) (ii)].
Tbe st~ute do~s aot ~mgt a transfer to a survivia9 spo use fro m tax, and t~e s~tutory req uJremeats for d Jsclosure of ~ssets a~d filia9 a ~x return are still applJ~ble even if
the su~Jvin9 sgouse Js the only beneficiary.
~or da~s of death o~ or after duly ~, 2000:
Th · ~x r~te Jmpo~d on the net val~e ol transfers fro m a deceased cBild twent$-one years of ~ge or younger at deat~ to or for t~e ~se of a natural parent, aa adoptive parent,
or a stepparent o~ t~e cBild is 0% [~2 ~.S, ~9~ ~6(a~.2)].
TB · ~x rate impose d oa t~e aet value of trans~er~ to or ~or the use of t~e decedents lineal beneficiaries is 4.5%, ex.pt as noted in ~2.P,S, ~ 9~ ~6(~ .2) ~2 ~.S, ~ 9~ ~ 8(a~)).
T~ · ~x r~te impose d on t~e aet wlue of traaslers to or for tBe use of t~e decedent's siblings is ~ ~°/~ [~2 ~.~. ~ 9~ ~6(a~.3)]. A siblia9 is defiaed, uader Section 9102, as an individual
w~o ~as at le~t o~e parent in commo~ wit~ t~e decedent, whether by blood or adoption.
0 PA15002 NTF 29756 Copyright 2000 Greatland/Nelco LP- Forms Software Only
REV-1508 EX + (1-97)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
ESTATE OF FILE NUMBER
~ag'el, F:ca,',~ ~. 21-2002-0216
Include proceeds of litigation & date proceeds were received by the estate, All prop. jointly-owned with Hght of survivorship must be disclosed on Sch. F.
ITEM
NO.
DESCRIPTION
TOTAL (Also enter on line 5, Recapitulation)
VALUE AT
DATE OF DEATH
$ 0.00
0 PA15081 NTF 33305
(If more space is needed, insert additional sheets of the same size)
Copyright 2000 Greatland/Nelco LP - Forms Software Only
REV-1509 EX + (1-97)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF FILE NUMBER
~gel, Fr-__-_~ M. 21-2002-0216
If an asset was made joint within one year of the decedent's date of death, It must be reported on Schedule G.
SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIONSHIP TO DECEDENT
A, Nagel, Regina M Spouse
111 West Winding Hill Road
Mechanicsburg, PA 17055
JOINTLY-OWNED PROPERTY:
DESCRIPTION OF PROPERTY' % OF DATE OF DEATH
LETTER DATE Include name of financial institution and bank
. FOR MADE account number or similar identifying number. DATE OF DEATH DECD'S VALUE OF
JOINT
· TENANT JOINT Attach deed for jointly-held reaJ estate. VALUE OF ASSET INTEREST DECEDEN3'S INTEREST
A. 08/15/1969 Citizens Bank 2,659.36 50.00 1,329.68
Account No. 222-602-3287
01/05/1988 Citizens Bank 6,267.10 50.00 3,133.55
Account No. 14'2-112-56A0
05/12/1995 Citizens Bank 24',569.59 50.00 12,284'.80
A=count No. 885-004'-5322
A 0.00 50.00 0.00
TOTAL (Also enter on line 6, Recapitulation) $ 16,74,8.03
ITEM
NO.
11.
2
3
0 PA15091 NTF 33306
(If more space is needed, insert additional sheets of the same size)
Copyright 2000 Greatland/Nelco LP- Forms Software Only
REV-1510 EX + (1-97)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPER'rY
ESTATE OF FILE NUMBER
Mag'el, Fratd~ M. 21-2002-0216
This schedule must be completed and filed if the answer to any of questions I through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
DESCRIPTION OF PROPERTY % OF
INCLUDE NAME OF THE TRANSFEREE, THEIR
ITEM RELATIONSHIP TO DECD & DATE OF TRANSFER. DATE OF DEATH DECD'S EXCLUSION TAXABLE VALUE
NO. ATirACH COPY OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IF APPLICABLE)
1. TWO one-story, single-family 336,000.00 100.00 O.OOi 336,000.00
dwellings; located at 111 West
Winding Hill Road, Mechanicsbur
g,
Cumberland Co~ulty, Pennsylvania
17055; being Tax Parcel No.
42-26-02A1-025; transferred to
The
Magel From; ly Revocable Trust by
deed dated April 27, 1999, and
recorded May 3, 1999, in the
Office of the Recorder of Deeds
of
Cumberland County, at Deed Book
198, Page 75A. Valuation per
attached appraisals. Value
reDorted is total value for hot
h
houses.
2 Two-Story, single family dwelli 175,000.00 100.00 0.00 175,000.00
ng,
located at 121 West Winding Hi1
1
Road, Mechanicsburg, Cumberland
County, Pennsylvania 17055;
ng
Tax Parcel No. A2-10-06A6-038;
acquired by The Magel Fmm'; ly
Trust by deed dated April 17,
2001, and recorded ADril 20, 20
in the Office of the Recorder o
f
Deeds of Cumberland County,
Pennsylvania. NOTE: This
Total from continuation pages .... 1,351,546.
TOTAL (~s0 enter 0n line 7. Racapitu[~i0n) $ 1,862
(If mom space is needed, insert additional sheets of the same size)
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Estate of: Magel, Frank M.
Schedule G -- Inter-vivos Transfers & Misc. Non-probate Property
Item
No. Description
Date of death ~ of Decd's Exclusion
Value of asset Interest (If applicable)
Page 2
21-2002-0216
Taxable Value
2 property was not
transferred to the Trust
on April 17, 2001, rather it wa
purchased by the Trust from
Jom--~e M. Sche11, a single
w_~?a-, on that date. Valuation
per attached appraisal.
3 THE FOLLOWING SECURITIES WERE H
ELD
IN THE MAGEL FAMILY TRUST:
31,323 shares of AOL co~uuon sro
CUSIP 00184A105:
10/19/01 High $31.35 per share;
10/19/01 Low $29.64 per share;
10/19/01 AV~ $30.495 per share;
10/22/01 High $31.85 per share;
10/22/01 Low $30.51 per share;
10/22/01 AVG $31.18 per share.
10/19/01-10/22/01 AVG $30.8375
per
share.
For Federal Estate Tax
alternate valuation purposes, t
he
alternate valuation date
is
04/19/01 High $21.45 per share;
04/19/01 Low $20.90 per share;
04/19/01 AVG $21,175 per share;
965,923.01 100.00 0.00
965,923.01
04/22/01 Hi=h ~20.70 Der share~
Estate of: Magel, Frank M.
Schedule G -- Inter-vivos Transfers & Misc. Non-probate Property
Item
No. Description
Date of death ~ o~ Decd's Exclusion
Value of asset Interest (If applicable)
Page 3
21-2002-0216
Taxable Value
4
5
04/22/01 Low $19.71 per share;
04/22/01 AVG $20.205 per share.
04/19/01-04-22-01 AVG $20.69 De
share.
135 shares of Mellon Financial
Corporation co~nnon stock;
CUSIP 58551A108:
10/19/01 High $32.85 per share;
10/19/01 Low $31.75 per share;
10/19/01 AUG $32.30 per share;
10/22/01 High $33.75 per share;
10/22/01 Low $32.51 per share;
10/22/01 AVG $33.145 per share.
10/19/01-10/22/01 AVG $32.7225
per
share.
For Federal Estate Tax
alternate valuation purposes,
he
alternate valuation ~ate is
04/20/2002:
04/19/02 High $38.90 per share;
0.4/19/02 Low $38.15 per share;
04/19/02 AVG $38.525 per share;
04/22/02 High $38.98 per share;
04/22/02 Low $38.35 per share;
04/22/02 AUG $38.665 per share.
04/19/02-04/22/02 AUG $38.595 p
share.
:L.000 shares of BSCH Finance LT
4,417.54 100.00 0.00
25.070.00 100.00 0.00
4,417.54
25.070.00
Estate o£: Magel, Frank M.
Schedule G -- inter-vivos Transfers & Misc. Non-probate Property
Item
No. Description
Date of death ~ of Decd's Exclusion
Value of asset Interest (If applicable)
Page 4
21-2002-0216
Taxable Value
D
preferred stock; CUSIP G1654717
9.'
10/19/01 AV~ $25.07 per share;
10/22/01 AVG $25.07 per share;
10/19/01-10/22/01 AVG $25.07 pe
r
share.
For Federal Estate Tax alternat
e
valuation purposes, the
alternate valuation ~ate
iS 04/20/2002=
04/22/02 AV~ $24.25 per share.
6 1,000 shares of Citigroup Capit
al
preferred stock; CUSIP 17305J20
3=
10/19/01 AVG $25.07 per share;
10/22/2001 AVG $24.98 per share
10/19/01-10/22/01 AVG $25.07 pe
share.
For Federal Estate Tax alternat
e
valuation purposes, the
alternate valuation ~ate is
April 20,
04/20/2002 AV~ $24.65 Der share
1,000 shares of Corporate Backe
Trust preferred stock;
CUSIP 21988G676:
10/19/01 AVG $25.40 per share;
10/22/01 AVG ~25.65 Der share=
24,960.00 100.00 0.00
25,525.00 100.00 0.00
24,960.00
25,525.00
Estate of: Mags1, Frank M.
Schedule G -- Inter-vivos Transfers & Misc. Non-probate Property
Page 5
21-2002-0216
item Date of death ~ of Decd's Exclusion
No. Description Value of asset Interest (If applicable)
Taxable Value
10/19/01-10/22/01 AVG $25.525
share.
For Federal Estate Tax alternat
e
valuation purposes, the
alternate valuation ~ate is
April 20, 2002=
04/20/02 AVG $25.10 per share.
8 1,200 shares of Host Marriott
Corp., preferred stock;
CUSIP 441079407=
27,360.00
100.00
0.00
27,360.00
10/19/01 AVG $22.60 per share;
10/22/01 AVG $23.00 per share;
10/19/01-10/22/01 AVG $22.80 pe
r
share.
For Federal Estate Tax alternat
e
valuation purposes, the alterna
te
valuation d~te is 04/20/2002:
04/20/2002 AVG $26.15 per share
9 1,000 shares of Leh~ Brothers
25,525.00
100.00
0.00
25,525.00
Holdings preferred stock;
CUSIP 52518G209=
10/19/01 AVG $25.55 per share;
10/22/01 AVG $25.50 per share;
10/19/01-10/22/01 AV~ $25.525
share.
For Federal Estate Tax alternat
e
valuation purposes, the alterna
Estate of: Magel, Frank M.
Schedule G -- Inter-vivos Trans£ers & Misc. Non-probate Property
Page 6
21-2002-0216
Item Date of death ~ of Decd's Exclusion
No. Description Value of asset Interest (If aEq~licable)
Taxable Value
valuation date is April 20, 200
2:
04/20/02 AVG $25.17 per share.
10 1,000 shares of Ohio Power Co.,
25,010.00 100.00 0.00
25,010.00
preferred stock;
CUSIP 677415762:
10/19/01 AVG $25.05 per share;
10/22/01 AVG $24.97 per share;
10/19/01-10/22/01 AVG $25.01 pe
share.
For Federal Estate Tax
alternate valuation purpose, th
alternate valuation date is
April 20, 2002:
04/20/02 AVG $24.49 per share.
11 800 shares of Phillips 66 Capit
al
preferred stock:
20,216.00 100.00 0.00
20,216.00
10/19/01 AVG $25.25 per share;
10/22/01 AVG $25.29 per share;
10/19/01-10/22/01 AVG $25.27 pe
sJ:~Lre.
For Federal Estate Tax alternat
e
valuation purposes, the alterna
valuation date is 04/20/2002:
04/20/02 AVG $25.30 per share.
12 200,000 PNC Mortgage Sec.:
207,540.00 100.00 0.00
207,540.00
10/19/01 AVG $1.0374 per share;
10/22/01 AVG gl.03734 Der share
Estate of: Magel, Frank M.
Schedule G -- Inter-vivos Transfers & Misc. Non-probate Property
Page 7
21-2002-0216
Item Date of death ~ of Decd's Exclusion
No. Description Value of asset Interest (I£ appllcable)
Taxable Value
10/19/01-10/22/01 AVG $1.0377
share.
For Federal Estate Tax alternat
e
valuation ~urposes, the alterna
te
valuation ~ate is April 20, 200
04/20/02 AVG $1.03364 per share
TOTAL. (Carry forward to main schedule) ...... 1,351,546.55
EV-1511EX + (1-97)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
ESTATE OF FILE NUMBER
Magel, F=ank M. 21-2002-0216
Debts of decedent must be reported on Schedule I.
ITEM
NO. DESCRIPTION AMOUNT
3
4
5
5.
6.
7.
FUNERAL EXPENSES:
MalDezzi Funeral Ho~e
Funeral ~oods & Services
Pealers Flowers
Flowers for Funeral
Post-Ftuaeral Reception
Gingrich Memorials
gravesite marker
Chestnut Hill Cemetery Association
cemetery lots
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
Name of Personal Representative(s) Frank A. Magel
Social Security Number(s)/EIN No. of Personal Representative(s)2 00- 58- 0 34 6
Street Address 111 West Winding Hill Road
City Mechanicsburg State PA Zip 17055
Year(s) Commission Paid: 2003
A~0rneyFees Name: ~ates, Halbruner a Hatch, P.C.
Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent
Probate Fees
Accountant's Fees
Tax Return Preparer's Fees
Register of Wills
Probate Fees
RSR Appraisers & Analysts
fee for appraisals of 111
Road properties
and 121 West Winding Hill
7,9S2.00
228.91
447.53
5,184.80
TOTAL (Also enter on line 9, Recapitulation) $ 102,321.24,
(If mom space is needed, insert additional sheets of the same size)
0 PA15111 NTF 33308 Copyrig ht 2000 Greatland/Nelco LP- Forms Software Only
43,000.00
43,000.00
0.00
0.00
0.00
0.00
933.00
600.00
975.00
REV-1512 EX + (1-97)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
ESTATE OF FILE NUMBER
~aGel, Fran~ M. 21-2002-0216
Include unreimbursed medical expenses.
ITEM
NO. DESCRIPTION AMOUNT
1. 153,112.12
WellsFarGo Ho~e MortGaGe
Loan No. 591-5927328
Property= 121 West Winding Hill Road, Mecha
nicsburG, Pennsylvania
(Property listed on Schedule G.)
OriGinal Principal Balance= $154,800.00
Interest Rate= 8.54
Loan Origination Date= 04/17/2001
(see attached for ~ate of death loan balanc
e)
TOTAL (Also enter on line 10, Recapitulation) $ 153. 112.12
(If more space is needed, insert additional sheets of the same size)
0 PA15121 NTF 33309 Copyright 2000 Greatland/Nelco LP - Forms Software Only
REV-1513 ED(+ (9-00)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE J
BENEFICIARIES
ESTATE OF FILE NUMBER
~geZ, F=an.k M. 21-2002-0216
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY DO Not Mst Trustee(s) OF ESTATE
I
1.
II
TAXABLEDISTRIBUTIONS0ncludeoutdg~spousald~dbutions, and
~an~emunderS~.9116(a)(1.2~
Magel, Regina M
111 West Winding Hill Road
Mechanicsburg, PA 17055
, By-Pass Trust Under Will
Frank A, Magel, Trustee
111 West Winding Hill Road
Mechanicsburg, PA 17055
Spouse
Trust
896,687.31
727,173.91
ENTER DOLLAR AMTS. FOR DISTRIBS. SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SEC. 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -- ENTER TOTAL NON-TAXABLE DISTRIBS. ON LINE 13 OF REV-1500 COVER SHEET $ 0 · 00
(If more space is needed, insert additional sheets of the same size)
0 PA15131 NTF 33293 Copyright 2000 Greatland/Nelco LP- Forms Software Only
REV-1649 EX + (1-97)
COMMONWEALTH OF
PEN NSYLVAN IA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE O
ELECTION UNDER SEC. 9113(A)
(SPOUSAL DISTRIBUTIONS)
ESTATE OF FILE NUMBER
Magel, Frank M. 21-2002-0216
Do not complete this schedule unless estate is making election to tax assets under Section 9113(A) of Inheritance & Estate Tax Act.
If the election applies to mere than one trust or similar arrangement, a separate form must be filed for each trust.
This election applies to the Trust(marital, residual A, B, By-pass, Unified Credit, etc.).
If a trust or similar arrangement meets the requirements of Section 9113(A), and:
a. The trust or similar arrangement is listed on Schedule O, and
b. The value of the trust or similar arrangement is entered in whole or in part as an asset on Schedule O,
then the transferor's personal representative may specifically identify the trust (all or a fractional portion or percentage) to be included in the
election to have such trust or similar property treated as a taxable transfer in this estate. If less than the entire value of the trust or similar property
is included as a taxable transfer on Schedule O, the personal representative shall be considered to have made the election only as to a fraction of
the trust or similar arrangement. The numerator of this fraction is equal to the amount of the trust or similar arrangement included as a taxable
asset on Schedule O. The denominator is equal to the total value of the trust or similar arrangement.
PART A: Enter the description and value of all interests, both taxable and non-taxable, regardless of location, which pass to the decedent's
surviving spouse under a Section 9113 (A) trust or similar arrangement.
DESCRIPTION
Ztem on Schedule F, Zt:em 2
Ztem on Schedule F, ]:teat 3
Zteat on Schedule F, Ztem 1
54.754 fractional share of residue
VALUE
3,133.55
12,284.80
1,329.68
879,939.28
PartATotal $ 896,687.31
PART B: Enter the description and value of all interests included in Part A for which the Section 9113 (A) election to tax is being made.
DESCRIPTION VALUE
Part B Total $ 0.00
(If mere space is needed, insert additional sheets of the saree size)
0 PA16491 NTF 33310 Copyright 2000 Greatland/Nelco LP- Forms Software Only
This i~ to certi~ that the information here given is correctly copied from an original certificate of death duly filed with me .~s
Local Registrar. The original certificate will be forwarded to the State Vital Records Office for permanent filing.
WARNING: It is illegal to duplicate this copy by photostat or photograph.
Fee for this certificate, $2.00
P 7691664
No.
Local Registrar
Date
COMMONWEALTH OF PENNSYLVANIA o DEPARTMENT OF HEALTH · VITAL RECORDS
CERTIFICATE OF DEATH
'~ I 1{~ We~Oi~in. H~i Rind I~t~g~"~ .... I~m
I, I,, I 4 ,.. mi~ ,~ina M. mvis
.... Vice President ,,.. Book C%ub
. . . ~,,. ~. Pennsylvania ~ ,,....~ ~ ~,~ U..~
111 West Wl~ng Hill Rd ~ _~ . , Allen ~
,.. sb~g, PA 17055 ~.~, ,m.c~ ~l~d ~, ,,a.~~.~
~,'s.~o,.~ ~ n. ~gel J,,. ~ttie miler
I~. 111 West Wi~ Hill ~. ~hanicsb~q, PA 17055
,~.~tnut Hill C~t~ 2,~.~ban~cs~g PA 17055
~,,. Regina M. Magel
~ ~,~k ~ ,,~ 26, 2001
n. ~~~~~ 1.. 011667-L I~ 8 ~ket Plaza ~""~" .~ .......
I I~-- o ~ .... ol I' o .o
................................................................ ~ ....
LAST WILL ANDTESTAMENT
OF
FRANK M. MAGEL
Register of Wills of CUMBERLAND County, Pennsylvania
Certificate of Grant of Letters
No. 2002-00216 PA No. 21-02-0216
ESTATE OF MAGEL FRANK M
(ma~'i', ~'~$'i~, ~~)
WHEREAS, on the 28th
dated April 27th 1999
Late of UPPER ALLEN TOWNSHIP
~U~J_~_/XI~ ~UU~'£'Z ,
Deceased
Social Security No. 125-05-3080
day of June
2002 an instrumen5
was admitted to probate as the last will of MAGEL FRANK M
late of UPPER ALLEN TOWNSHIP , CUMBERLAND County, who died on the
20th day of October 2001 and,
WHEREAS, a true copy of the will as probated is annexed hereto.
THEREFORE, I, MARY C. LEWIS , Register of Wills in and for
the County of CUMBERLAND in the Commonwealth of Pennsylvania, hereby certify
that I have this day granted Letters TESTAMENTARY
to MAGEL FRANK A
who has duly qualified as Executor(rix)
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, PENNSYLVANIA.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal
of ~ Office the 28th day of June 2002.
I[/~ ' ' ~egzsrer or ~z±±s ~ /1'
**NOTE** ALL NAMES ABOVE APPEAR (LAST, FIRST, MIDDLE)
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
I, FRANK M. MAGEL, now of 111 West Winding Hill Road, Mechanicsburg,
Cumberland County, Pennsylvania 17055, do publish and declare this to be my Last Will and
Testament, hereby revoking all other prior wills and codicils made by me.
FIRST: Family Background and Appointment of Executor.
(A) Family and Background Information. I am married to REGINA M. MAGEL.
Our children are FRANK A. MAGEL and CHRISTINE L. CZARNECKI. Throughout this
Will, REGINA M. MAGEL will be referred to as "my wife" or "my spouse", and FRANK A.
MAGEL and CHRISTINE L. CZARNECKI will be referred to as "our children". The word
"issue" will include our children as well as our other descendants.
(B) Appointment of Executor. I appoint as my Executrix and successor Executor
(all hereinafter referred to as Executrix, Executor or Executors under this Will), the following
named persons or corporations to serve without bond and without being required to account to
any Court:
Executrix:
My spouse, REGINA M. MAGEL.
Successor Executor: My son, FRANK A. MAGEL.
SECOND: FUneral and Last Illness EXpen~.es; Taxes,
(A) Expenses of Funeral and Last Illness. Notwithstanding that my spouse survives
me, I direct my Executor to pay my funeral expenses and the expenses of my last illness from my
estate.
(B) Taxes. I direct my Executor to pay any and all estate, inheritance, transfer and
other death taxes or duties, by whatever name called, including any and all interest and penalties
thereon~mposed under the laws of any jurisdiction by reason of my death, upon or with respect
to a~3V arid all property included in my gross estate for the purpose of such taxes, whether such
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Paee 2
property passes under or outside of this Will. Without any apportionment otherwise required by
law and without being prorated or apportioned among or charged against the respective devises,
legatees, beneficiaries, transferees, or other recipients of any such property or charged against any
property passing or which may have passed to any of them, I direct that any taxes so paid shall be
charged as follows:
(1) If my spouse, REGINA M. MAGEL, survives me, I direct that any taxes
so paid shall be charged entirely against that portion of my residuary estate, if any, which
passes under the provisions of Subparagraph I of Paragraph A of Article FIFTH (By-Pass
trust) of this my Will, or to the extent, if any, that said portion is insufficient, then against
that portion of my residuary estate, if any, which passes under the provisions of
Subparagraph 2 of Paragraph A of Article FIFTH (Marital Deduction gift) of this my Will;
or,
(2) If my spouse, REGINA M. MAGEL, does not survive me, I direct that
any taxes so paid shall be charged entirely against my residuary estate which passes under
Subparagraph B(2) (or to the extent, if any, that Subparagraph B(2) is insufficient, then
against that portion of my residuary estate, if any, which passes under Subparagraph
(B)(1) or C of Article FIFTH, whichever applies.
-~My Executor shall not be-entitled to reimbursement for any portion of any such taxes-from
any such person. The foregoing provisions of this Article SECOND shall not apply to the
following:
(1)~ The amount,' if any, by which-taxes, interest and~ penalties thereon shall be
increased as a result of the inclusion in my gross estate of property (a) in which I may have-' - ......
a qualifying income interest for life, under Section 2044 of the Internal Revenue Code of
1986 (herein, "IRC") (or the corresponding provisions of any subsequent federal tax laws).
or corresponding provisions of state law, or (b) over which I may have a general power of
appointment under IRC Section 2041 (or the corresponding provisions of any subsequent
federal tax laws) or corresponding provisions of state law, or (c) over which I may have
retained an interest as defined in IRC Section 2036 (or the corresponding provisions of
any subsequent federal tax laws) or corresponding provisions of state law, and any taxes,
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
PaRe 3
interest and penalties on said incremental amount shall either be paid from said property
directly or shall be recovered by my Executor from the person holding or receiving said
property as provided in IRC Sections 2207, 2207A, or 2207B (or the corresponding
provisions of any subsequent federal tax laws);
(2) A generation skipping tax imposed by IRC Chapter 13 or the additional estate
tax imposed by IRC Section 2032A(c) (or corresponding provisions of federal or state law
applicable to my estate and imposing said taxes), and any and all interest and penalties on
said Chapter 13 and IRC Section 2032A(c) and comparable state taxes; and
(3) Such portion or portions of said taxes, interest and penalties which may be
required to be paid by the Trustee of the Trusts described below, in Articles SEVENTH
and EIGHTH.
THIRD: Tangible Personal Property. Except for those items excluded below and
those items enumerated in the Letter of Instruction, I bequeath to my spouse, REGINA M.
MAGEL, all tangible personal property, including but not limited to clothing, jewelry, heirlooms,
furniture, household furnishings, personal effects, motOr vehicles, and all other similar articles,
which I own, and the insurance thereon, if my spouse survives me by sixty (60) days. Tangible
personal property shall not include: (1) any and all property used by me in any business, (2) cash
on hand or on deposit in banks, (3) stock or securities, (4) any type of evidence of indebtedness,
and (5) any life, health or accident insurance policies.
.- : If my;spouse does not survive-me-by sixty (60) days; [bequeath sUch tangible personal:: ..:..:~:.7~ _- i ~ _:
-property to our children, if they are livingon-_t-he sixty-first.(61 st) day after-~my death. If my -- _.
spouse and our children do not survive meby sixty-(60) days, I leave such tangible personal --
property to our issue, per stirpes. If there is any disagreement as to distribution, I direct my
Executor to make such distribution. The decision of my Executor shall be final and binding. Any_
items not selected or any items which my Executor considers unsuitable for my issue may be
distributed or sold in the sole discretion of my Executor and if sold, the net proceeds therefrom
shall be added to the residue of my estate. Any such article allocated to a minor may, as my
Executor deems advisable, either be delivered to the minor or to any person to safeguard on
beha~lf of the minor.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 4
Notwithstanding any other provisions in this Article THIRD, I may leave a separate, dated
and unsigned Letter of Instruction, which I shall place with my Will, containing directions as to
the ultimate disposition of certain of the property bequeathed under this Article THIRD, and such
Letter of Instruction shall determine the distribution of such items.
FOURTH: (THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
FIFTH:
By-Pass and Marital Deduction Gifts.
(A) If my spouse, REGINA M. MAGEL, survives me, I give, devise and bequeath all
the rest, residue and remainder of my estate, of every kind and character, real, personal and
mixed, tangible and intangible, and wherever situated, including any lapsed or renounced legacies,
devises or residuary bequests, as follows:
(1) By-Pass Amount. (a) I give, devise and bequeath to my Trustee,
hereinafter named, a fraction of my residuary estate which shall be determined as follows:
The numerator of the fraction shall be the largest amount that can pass free of any
federal estate tax (i) as a result of the allowance of the Unified Credit under IRC Section
2010, (or the corresponding provisions of any subsequent federal tax law) and the State
Death Tax Credit under IRC Section 201 I, (or the corresponding provisions of any
subsequent federal tax law) but only to the extent that the use of the State Death Tax
Credit does not incur or increase any state death taxes otherwise payable by my estate, and
(ii) after taking into account the value of any and all bequests or transfers which do not-
qualify-'for the marital or charitable-deduction, and:(iii) after giving effect to all charges
against principal that are not allowed as-deductions in computing my federal estate tax,
and (iv) after giving effect to all administration and other expenses claimed on the estate
tax return, and (v) after taking into account any prior adjusted taxable girls; and
The denominator of which shall be the value of my residuary estate as finally
determined for federal estate tax purposes.
(b) If any girl, bequest, or devise, whether or not out of the residue of my
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 5
estate, is renounced, then the renounced girl, bequest or devise shall be added to this
Trust, even though an amount in excess of the By-Pass amount is transferred into this
Trust.
(c) My Trustee shall hold the property given to my Trustee by this
Subparagraph 1, in Trust, such Trust to be known as and herein referred to as the
"FRANK M. MAGEL BY-PASS TRUST," to and for the purposes described below.
(2) Marital Deduction. I give, devise and bequeath the balance, if any, of my
residuary estate to my spouse, REGINA M. MAGEL.
(B) If my spouse, REGINA M. MAGEL, does not survive me, I give, devise and
bequeath all the rest, residue and remainder of my estate, of every kind and character, real,
personal and mixed, tangible and intangible, and wherever situated, including any lapsed or
renounced legacies, devises or residuary bequests (but excluding any property over which I may
have a Power of Appointment), to our children, FRANK A. MAGEL and CHRISTINE L.
CZARNECKI, in the following shares and amounts:
(1) I give the amount of FIFTY FIVE THOUSAND DOLLARS ($55,000.00) to
my son, FRANK A. MAGEL.
(2) Any rlal estate that I own or otherwise have an interest in at my death shall be
held, IN TRUST, for the lifetime benefit and enjoYment of my son, FRANK A.
MAGEL,-proVided~'thiithe~shall:be r'e~;pOn~ibl~--f6i~f-ees; insuranceand-0ther .....
costs, fees or eXpenses of using or benefitting from such~eal-estate, until such time
as he moves, rents, dies, or subdivides the real estate.'-'lf-'~d irr~he event that he
moves, rents, dies, or subdivides the real estate, the net proceeds from the
subsequent rent, sale, subdivision or other use of the real estate shall be divided
equally between FRANK A. MAGEL and CHRISTINE L. CZARNECKI.
(3) The remaining balance shall be distributed, in equal shares, to FRANK A.
MAGEL and CHRISTINE L. CZARNECKI, per capita. If and in the event that
both of my children should predecease this distribution, then this distribution shall
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 6
be made to the issue of my children, in equal shares, per stirpes.
(C) Distributions during Administration. Prior to final distribution of my estate, the
Executor, in his discretion, may make partial distributions to one or more beneficiaries or Trusts.
As a consequence, the Executorship and any Trusts created under this Will may exist
contemporaneously. A distribution may be made subject to any indebtedness or liability of my
estate.
SIXTH:
(THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
SEVENTH: Frank M. Magel By-Pass Trust.
(A) The gift to the Trustee of the FRANK M. MAGEL BY-PASS TRUST shall
constitute the Trust Estate of a Trust for the primary benefit of my spouse and my children.
(B) Distributions During my Spouse's Lifetime. The Trustee shall distribute to, or
for the benefit of, my spouse, REGINA M. MAGEL, for and during my spouse's lifetime, all of
the net income from this Trust, in such periodic installments as the Trustee and my spouse shall
agree. The Trustee shall pay to, or for the benefit of, my spouse, at any time or times and from
time to time, such sums from or any part or all of the principal as my Trustee may, in its sole
discretion, determine to be reasonably necessary for my spouse's health, education, support, and
maintenance, and the expenses of any illness or accident which may affect my spouse.
:" ~ -' (Cj~ ~Br°ad Special Power of Appointment~' 'MY spouse~-REGINA M. MAGEL;'-i~ '-
hereby granted' the special power to appoint; at any time and from time to time, the principal of
this Trust in whole or in part and in any manner and in such proportions as she deems advisable to
whomever she desires. This power shall not be exercisable under her Will. This special power of
appointment does not grant to my spouse the power to appoint the principal of this Trust to
herself, her estate, her creditors or the creditors of her estate, nor to appoint the principal of this
Trust for the health, education, support, or maintenance of any of my issue whom I or my spouse
is legally obligated to support or maintain. If my spouse fails, either in whole or in part, to
exercise this special power of appointment herein granted, the unappointed principal shall
continue in trust and shall be administered according to the terms of this Trust.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 7
(D) Limited General Power of Appointment. My spouse, REGINA M. MAGEL.,
is hereby granted the general power to appoim a maximum amoum of the principal of this Trust
to herself, her estate or any other individual, in such proportions and upon such terms (in trust,
outright gifts or in any other manner), as she deems advisable. The maximum amoum which my
spouse may appoint under this paragraph, per calendar year, shall be the greater of $5,000 or five
(5%) percent of the entire principal of this Trust. At the end of each calendar year, her right to
appoint the maximum amoum shall lapse, if not exercised, and the unused maximum amoum shall
not accumulate. This power shall not be exercisable under her Will. If my spouse fails, either in
whole or in part, to exercise this general power of appointmem herein granted, the unappoimed
principal shall continue in trust and shall be administered according to the terms of this Trust.
(E) Subsequent Distributions. Upon the death of my spouse, this Trust shall
terminate. Upon termination, the remaining trust estate shall be distributed to our children,
FRANK A. MAGEL and CHRISTINE L. CZARNECKI, in the following shares and amounts:
(1) Any real estate that I own or otherwise have an imerest in at my death shall be
held, IN TRUST, for the lifetime benefit and enjoyment of my son, FRANK A.
MAGEL, provided that he shall be responsible for taxes, fees, insurance and other
costs, fees or expenses of using or benefitting from such real estate, until such time
as he moves, rems, dies, or subdivides the real estate· If and in the event that he
moves, rems, dies, or subdivides the real estate, the net proceeds from the
subsequent rent, sale, subdivision or other use of the real estate shall be divided
equally between FRANK A. MAGEL and CHRISTINE L. CZARNECKI.
(2) The remaining balance shall be distribii'fL~d, in equal shares, to FRANK A. ' .... - .......
MAC, EL and CHRISTINE L. CZARNECKI, per capita~ If and in the"event that
both of my children should predecease this distribution, then this distribution shall
be made to the issue of my children, in equal shams, per stirpes. _
(F) Distributions during Administration. Prior to final distribution of my estate, the
Executor, in his discretion, may make partial distributions to one or more beneficiaries or Trusts.
As a consequence, the Executorship and any Trusts created under this Will may exist
contemporaneously.
A distribution may be made subject to any indebtedness or liability of my
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Pa~,e 8
estate.
EIGHTH: (THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
NINTH: Appointment of Trustee and Successor Trustees.
(A) Nomination. I nominate, constitute and appoint FRANK A. MAGEL, to act as
Trustee of all Trusts created by my Will.
(B) Compensation. The Trustee shall receive as its compensation for the services
performed hereunder that sum of money, based on an hourly charge or percentage rate, which the
Trustee normally and customarily charges for performing similar services during the time which it
performs these services.
(C) Removal of Trustee. A majority of the current beneficiaries may remove the
Trustee, at any time or times, with or without cause, upon thirty (30) days' written notice given to
the Trustee. Upon the removal of the Trustee, a successor Trustee shall be appointed in
accordance with the terms set forth in Paragraph NINTH(D).
(D) Appointment of Successor Trustee. The Trustee may resign at any time upon
thirty (30) days' written notice given to the:'durrent beneficiary or beneficiaries (including a -
beneficiary's natural or legal guardian or legal representative), hereunder. Upon the death,
resignation, removal or incapacity of the Trustee, a successor trustee may be appointed by a
": --.--: ~-~' maj6rity,of-the~Curr6nt beneficiafies~'Any successor trustee shall b~-'a~financially sOund arid .~--.' :~-::
--:- competent corporate trustee or my issue:-. ~Any successor trustee thus appointed, or, if the Trustee
shall merge with or be consolidated with another corporate fiduciary, then such corporate
fiduciary, shall succeed to all the duties and to all the powers, including discretionary powers,
herein granted to the Trustee.
TENTH: (THIS ARTICLE HAS BEEN INTENTIONALLY LEFT BLANK.)
ELEVENTH: Powers. of Trustee and Executor. In addition to the powers and duties as
may have been granted elsewhere in this Will, but subject to any limitations stated elsewhere in
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Pa~,e 9
this Will, the Executor and Trustee shall have and exercise exclusive management and control of
the Estate or Trusts, respectively, and shall be vested with the following specific powers and
discretion, in addition to the powers as may be generally conferred from time to time upon them
by law:
(A) In the management, care and disposition of the Trusts or Estate, the Trustee and
Executor, respectively, shall have the power to do all things and to execute such instruments,
deeds, or other documents as may be deemed necessary or proper, including the following .
powers, all of which may be exercised without order of or report to any Court:
(1) To sell, exchange or otherwise dispose of any property at any time 'held or
acquired hereunder, at public or private sale, for cash or on terms, without advertisement,
including the fight to lease for any term notwithstanding the period of the Trust, and to
grant options, including any option for a period beyond the duration of the Trust; except
that, in lieu of any binding shareholder agreement or buy/sell agreement to the contrary,
the Executor and Trustee shall not be permitted to sell the stock or any other ownership
interest in any business owned by me, or my spouse, or held in trust, at my death, without
first offering the same for sale to my children, Or without next offering the same to the
corporation or business represented by such ownership interest for redemption.
- (2) To invest-all monies in such stocks, bonds; securities, mortgages, notes,
choses in action, real estate or improvements thereon, and any other property as the
Trustee or Executor may deem best, without regard to any law now or hereafter enforced
~-, :~: ........ - .' :.-::, limiting-investments of fiduciaries,' except.that':the Trusteeor Executo-r:mayn-ot invest in-::z:. :::-' :' '. -
any securities issued by the corporate Trustee or~F~xecutor, or issued by a parent-or
affiliate company of such Trustee or Executor--- .
(3) To retain for investment any property deposited with the Trustee or Executor
hereunder; except that the Trustee or Executor may not retain for investment any stock in--
the corporate Trustee or Executor, or in a parent or affiliate company of such Trustee or
Executor.
(4)
To Vote in person or by proxy any corporate stock or other security and to
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 10
agree to or take any other action in regard to any reorganization, merger, consolidation,
liquidation, bankruptcy or other procedure or proceedings affecting any stock, bond, note
or other security.
(5) To use attorneys, real estate brokers, accountants and other agents, if such
employment is deemed necessary or desirable, and to pay reasonable compensation for
their services.
(6) To compromise, settle or adjust any claim or demand by or against the Trusts
or Estate and to agree to any rescission or modification of any contract or agreement
affecting the Trusts or Estate.
(7) To renew any indebtedness, as well as to borrow money, and to secure the
same by mortgaging, pledging or conveying any property of the Trusts or Estate, including
the power to borrow from the Trustee at a reasonable rate of interest.
(8) To retain and carry on any business in which the Trusts or Estate may acquire
an interest, to acquire additional interest in any such business, to agree to the liquidation in
kind of any corporation in which the Trusts or Estate may have an interest and to carry on
the business thereof, to join with other owners in adopting any form of management for
any business or property in which the Trusts or Estate may have an interest, to become or
remain a partner, general or limited, in regard to any such business or property and to hold
the stock or other securities as an investment, and to employ agents and confer on them
authority~to manage and operate the business, property or corporation, without liability for
the acts of such agent or for any loss, liability or indebtedness of such business if the :-.-
management is selected or retained with reasonable care. _.
(9) To register any stock, bond or other security in the name of a nominee,
without the addition of words indicating that such security is held in a fiduciary capacity,
but accurate records shall be maintained showing that such security is a Trust or Estate
asset and the Trustee or Executor shall be responsible for the acts of such nominee.
(B) Whenever the Trustee or Executor is directed to distribute any Trust principal or
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Pa~e 11
Estate assets in fee simple to a person who is then under twenty-five (25) years of age, the
Trustee or Executor shall be authorized to hold such property in Trust for such person until
he/she becomes twenty-five (25) years of age, and in the meantime shall use such part of the
income and the principal of the Trusts or Estate as the Trustee or Executor, respectively, may
deem necessary to provide for the proper support and education of such person. If such person
should die before becoming twenty-five (25) years of age, the property then remaining in trust
shall be distributed to the personal representative of such person's estate.
(C) In making distributions from the Trusts or Estate to or for the benefit of any minor
or other person under a legal disability, the Trustee or Executor need not require the appointment
of a guardian, but shall be authorized to pay or deliver the same to the custodian of such person,
to pay or deliver the same to such person without the intervention of a guardian, to pay or deliver
the same to a legal guardian of such person if one has already been appointed, or to use the same
for the benefit of such person.
(D) In the disbursement of the Trusts or Estate and any division into separate trusts or
shares, the Trustee or Executor shall be authorized to make the distribution and division in money
or in kind, or both, regardless of the basis for income tax purposes of any property distributed or
divided in kind, and the distribution and division made and the values established by the Trustee
or Executor shall be binding and conclusive on all persons taking hereunder. The Trustee or
Executor may in making such distribution or division allot undivided interests in-the same
property to several trusts or shares.
. (E) - The Trustee and Executor shall be"authorized to lend or borrow, including the
right, to lend to or borrow from any-trusts which I may have established during-life or by will at an
adequate rate of interest and with adequate security, and upon such terms and conditions as the
Trustee or Executor shall deem fair and equitable.
(F) The Trustee and Executor shall be authorized to sell or purchase at the fair market
value as determined by the Trustee or Executor, any property to or from my estate, the estate of
my spouse, or any trust created by me or my spouse during life or by Will, even though the same
person or corporation may be acting as Executor of my estate or the estate of my spouse or as
Trustee of any of my other trusts.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Pa~e 12
(G) The Trustee and Executor shall have discretion to determine whether items should
be charged or credited to income or principal or allocated between income and principal as the
Trustee or Executor may deem equitable and fair under all the circumstances, including the power
to amortize or fail to amortize any part or all of any premium or discount, to treat any part or all
of the profit resulting from the maturity or sale of any asset, whether purchased at a premium or
at a discount, as income or principal or apportion the same between income and principal, to
apportion the sales price of any asset between income and principal, to treat any dividend or other
distribution of any investment as income or principal, or apportion the same between income and
principal, to charge any expense against income or principal or apportion the same, and to provide
or fail to provide a reasonable reserve against depreciation or obsolescence on any assets subject
to depreciation or obsolescence, all as the Trustee and Executor may reasonably deem equitable
and just under all the circumstances.
(H) If at any time the total fair market value of the assets of any trust established or to
be established hereunder is so small that the corporate Trustee's annual fee for administering the
trust would be the minimum annual fee set forth in the Trustee's regularly published fee schedule
then, in effect, the Trustee in its discretion shall be authorized to terminate such trust or to decide
not to establish such trust, and in such event the property then held in or to be distributed to such
trust shall be distributed to the persons who are then or would be entitled to the income of such
trust. If the amount of income to be received by such persons is to be determined in the discretion
of the Trustee, then the Trustee shall distribute the property among such of the persons to whom
the Trustee is authorized to distribute income, and in such proportions, as the Trustee in its
discretion shall determine.
(I) -When the authority and power-under this Will are vested in two (2) or more
Executors or Trustees, the authority and powers are to be held jointly or individually by the
Executors or Trustees, respectively.
(J) The Trustees shall be subject to the Uniform Prudent Investor Act (the "UPIA") as-
if the UPIA had been enacted in the Commonwealth of Pennsylvania in the form promulgated by
the Commission on the Uniform State Laws in its exercise if any power to manage and invest the
assets of the trust. The Testator desires that the Executor and Trustees, consistent with the
standards of the UPI& continuously assess the appropriate investment risk tolerance of the trust
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 13
beneficiaries, and then invest the trust assets seeking the maximum total return at that level of
risk. The Testator believes, consistent with modern portfolio theory, that the estate and trust total
investment return will be determined primarily by the trust's asset allocation; not market timing or
active management in security selection. The Testator believes that the estate and trust should
diversify its investments with regard to assets classes and individual securities to avoid
uncompensated risk. The Testator does not intend to prohibit the Executor or Trustees from
engaging in active management of estate or trust assets where the Executor or Trustees
reasonably believe active management can aid in achieving the desired balance between risk and
return.
The Testator directs that any Executor or Trustee, in managing and investing the assets of
the trust estate, establish, in writing, an appropriate investment policy statement. The investment
policy statement shall be reviewed and updated at least annually.
The Executor and Trustees may retain professional investment counsel of the Executor's
and Trustees' choice; provided, however, a counsel so selected shall be either registered as an
investment adviser with the U.S. Securities and Exchange Commission or a state chartered or
national bank with fiduciary powers. If investment counsel is retained, the Executor and Trustees
shall abide by the counsel's decision but shall not be held liable or otherwise surcharged for losses
directly attributable to investments made on the investment counsel's advise. While the Executor
or Trustees retain investment counsel, the Executor and Trustees shall not be required to review
trust investments or take action on trust investments unless the Trustees receive written
instructions from investment counsel.
The Executor and Trustees shall have the power exercisable in their discretion to
discharge such investment counsel and to employ other counsel or to administer the trust without
such counsel. Consistent with the standards of the UPI& the Executor and Trustees shall have
the responsibility to prudently select any investment counsel, to periodically review the
performance of any investment counsel and to take appropriate action if apprised of facts clearly ~
indicating that counsel is not performing competently.
The Executors and Trustees shall not be liable to any beneficiary or to any heir for the
Executor's or Trustees' acts or failure to act, except for willful misconduct or gross negligence, in
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 14
directing the investments of the trust.
TWELFTH: Rights and Liabilities of Executor and Trustee.
(A) No bond or other security shall be required of any Executor.
(B) This instrument always shall be construed in favor of the validity of any act or
omission by any Executor or Trustee, and any Executor or Trustee shall not be liable for any act
or omission except in the case of gross negligence, bad faith or fraud. Specifically, in assessing
the propriety of any investment, the overall performance of the entire trust shall be taken into
account.
(C) The Executor shall be entitled to receive reasonable compensation for services
actually rendered to my estate, in an amount the Executor normally and customarily charges for
performing similar services during the time which he performs the services.
THIRTEENTH: Tax Elections.
(A) General Elections. In determining the estate, inheritance and income tax liability
relating to my Estate, the Executor's decision as to all available tax elections shall be conclusive
on all concerned. If the Executor joins with my spouse in filing income tax returns, or consenting
for gift tax purposes to having gifts made by either of us during my life considered as having been
made one-half by each of us, any resulting liability shall be borne by my Estate and my spouse in
_isuch proportions'as they may agree. In accordance with IRC Section 2632(a) and without regard
to whether a Federal estate tax return is actually filed, my Executor shall allocate so much of the
Federal Generation Skipping Transfer (GST) exemption amount as will fully exempt any
generation skipping transfer which may occur under this Will.
(B) Valuation. The Executor may, in its discretion, determine the date as of which m~
gross estate shall be valued for the purpose of determining the applicable tax payable by reason of
my death.
(C) Deductions. The Executor may, in its discretion, decide whether all or any part of
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 15
certain deductions shall be taken as income tax deductions (even though they may equal or exceed
the taxable income of my estate and whether or not claimed or of benefit on my estate's income
tax return) or as estate tax deductions when a choice is available; and in the event that all or any
part of such deductions are taken as income tax deductions, no adjustment of income and
principal accounts in my estate shall be made as a result of such decisions.
FOURTEENTH: Definitions and General Provisions.
(A) Survival. Any beneficiary, including my spouse, who dies within sixty (60) days
after my death shall be considered not to have survived me.
(B) Trust Estate. "Trust Estate" means all assets, however and wherever acquired,
including income, which may belong to a Trust at any given time.
(C) Children. Except for discretionary distributions which may be made unequally
among a group of persons and distributions pursuant to a valid exercise of a Power of
Appointment, in making a distribution to the children of any person, the property to be distributed
shall be divided into as many shares as there are living children of the person and deceased
children of the person who left children who are then-living. Each living child shall take one share
and the share of each deceased child shall be divided among his then-living descendants in the
same manner. A posthumous child shall be considered as living at the death of his parent.
(D) Code. Unless otherwise stated, all references in my Will to section and chapter
numbers are to those of the Internal Revenue Code of 1986, as amended, or the corresponding
provisions of any subsequent federal tax laws applicable to my estate.
(E) Other terms. The use of any gender includes the other genders, and the use of
either the singular or the plural includes the other.
(F) Captions. The captions set forth in this Will at the beginning of the various divisions
hereof are for convenience of reference only and shall not be deemed to define or limit the
provisions hereof or to affect in any way their construction and application.
LAST WILL AND TESTAMENT
OF
FRANK M. MAGEL
Page 16
(G) Powers ofAppointment~ IfI predecease my spouse, then by this Will I fully
exercise the General Power of Appointment reserved to me in Paragraphs 4.02 and 10.02(B) of'
THE MAGEL FAMILY REVOCABLE TRUST dated April 27, 1999. In so doing, I hereby
appoint the entire principal and accrued income of said trust to my estate to be held, administered
and distributed in accordance with the terms of this my Last Will and Testament. By this Will, I
do not exercise any other Power of Appointment.
IN WITNESS WHEREOF, I, FRANK M. MAGEL, the Testator, have to this my Last
Will and Testament, typewritten on seventeen (17) pages, including the Acknowledgment and
Affidavit, set my hand and seal this 27th day of April, 1999.
Signed, sealed, published and declared by the above-named Testator, as and for his Last Will and
Testament, in the presence of us, who have hereunto subscribed our names at his request, as
witnesses hereto, in the presence of the said Testator, and in the presence of each other. Each of
us further declares that he or she believes the Testator to be of sound mind and memory. The
preceding instrument consists of this and sixteen (16) other consecutively numbered typewritten
pages including the Acknowledgment and Affidavit.
(print name)
(print name)
residing at
ACKNOWLEDGMENT AND AFFIDAVIT
COMMONWEALTH OF PENNSYLVANIA
COUNr¥OF
SS:
The Testator and the witnesses whose names are signed and subscribed to the attached or
foregoing instrument, being first duly sworn and qualified according to law, do hereby
acknowledge, depose and say to the undersigned authority, that the Testator signed and executed
the instrument as his Last Will in the presence of the witnesses; that he signed it willingly or
willingly directed another to sign it for him; that he executed it as his free and voluntary act for
the purposes therein expressed; that each of the witnesses were present and saw the Testator sign
and execute the instrument as his Last Will; that each subscribing witness in the hearing and sight
of the Testator signed the will as witnesses; and that to the best of their knowledge the Testator
was at that time eighteen years of age or older, of sound mind and under no constraint or undue
influence.
Witness
Sworn to or affirmed, subs. c.,ribed to, and acknowledged, before me by the above-named
Testator and witnesses, this ~7~y of April, 1999.
Notary Public
My Commission Expires:
[ Tracl L. Sepkovtc, Notary Public
[ - C~_r?isle ,Bom, Cumberland Counht -/
l My (.;ommisslon Expires May 31,159,9
THE MAGEL FAMILY
REVOCABLE TRUST
dated April 27, 1999
THE
MAGEL FAMILY
REVOCABLE TRUST
THIS TRUST AGREEMENT is executed in triplicate on this 27th day of April, 1999, by
and between FRANK M. MAGEL and REGINA M. MAGEL, now of 111 West Winding Hill
Road, Mechanicsburg, Cumberland County, Pennsylvania 17055 (herein referred to as "Settlors") and
FRANK M. MAGEL and REGINA M. MAGEL, now of 111 West Winding Hill Road,
Mechanicsburg, Cumberland County, Pennsylvania 17055 (herein referred to as "Trustees" or "Co-
Trustees").
ARTICLE I.
PARTIES, PERSONAL DATA AND DISCLAIMER
1.01. Parties and Personal Data. The Settlors are married. The Settlors children are
FRANK A. MAGEL and CHRISTINE L. CZARNECKI. Throughout this Agreement: (a)
FRANK M. MAGEL and REGINA M. MAGEL will be referred to as the Settlors; (b) FRANK
A. MAGEL and CHRISTINE L. CZARNECKI will be referred to as the children of the Settlors
or the Settlors' children; and (c) the word "issue" will include the Settlors' children as well as the
Settlors' other descendants.
1.02. Disclaimer. The Trustee shall have the right to disclaim, in whole or in part, prior to
its acceptance by the Trustee, any interests in property for any reason, including but not limited to
a concern that such property could cause potential liability under any federal, state, or local
environmental law.
ARTICLE H.
TRUST ESTATE
2.01. Transfer to Trust. Settlors do hereby assign, transfer and deliver to the Trustees, and
their successors and assigns, the property described in Schedule "A" attached hereto and made a part
hereof, or as Schedule "A" may be amended. As further evidence of such assignment, the Settlors
have executed or will execute or cause to be executed such other instruments as may be required for
the purposes of completing the assignment or transfer of title to such property to the Trustees. The
Trustees accept such transfer and assignment to themselves as Trustees, and undertake to hold,
manage, invest and reinvest the assets of this Trust, and to distribute the income and principal of the
Trust in accordance with the provisions of this Agreement.
2.02. Additional Transfers to Trust. The Settlors, and any other person, with the consent
of the Trustees, shall have the right at any time to make additions to the corpus of this Trust or any
shares thereof hereby established. All such additions shall be held, controlled, and distributed by the
Trustees in accordance with the terms and conditions of this Agreement.
ARTICLE HI.
LIFE INSURANCE POLICIES
3.01. Transfers of Life Insurance to Trust. If any insurance policies are transferred into
this Trust, the Trustees shall be vested with all right, title, and interest in and to the transferred
policies of insurance, and are authorized and empowered to exercise and enjoy, for the purposes of
the Trust herein created and as absolute owner of such policies of insurance, all the options, benefits,
rights and privileges under such policies, including the right to borrow upon and to pledge them for
a loan or loans. The Trustees take all rights, title, and interest in and to such insurance policies
subject to any prior split-dollar life insurance agreement which may be in effect at the time of the
transfer. The insurance companies which have issued such policies are hereby authorized and directed
to recognize the Trustees as absolute owner of such policies of insurance and as fully entitled to all
options, rights, privileges, and interests under such policies, and any receipts, releases, and other
instruments executed by the Trustees in connection with such policies shall be binding and conclusive
upon the insurance companies and upon all persons interested in this Trust.
3.02. Payment of Premiums. It is the intention of the Settlors to pay any and all premiums,
assessments or other charges necessary to keep each policy included in the Trust in force unless such
premiums shall be paid by the insured thereunder (where the insured is someone other than either or
both of the Settlors) or in some other manner, but the Settlors shall be under no duty in this respect
and shall incur no liability to the beneficiaries of the Trust or to any other person if the Settlors shall
permit any such policy to lapse for nonpayment of premiums, assessments or charges, or otherwise
permit any such policy to become uncollectible.
The Trustees shall be under no obligation to pay the premiums which may become due and
payable under the provisions of any policy of insurance which may be transferred or assigned to this
Trust, or to make certain that such premiums are paid by the transferor of such policy, or to notify
any persons of the nonpayment of such premiums, and the Trustees shall be under no responsibility
or liability of any kind in case such premiums are not paid, except that the Trustees shall apply any
dividends received by the Trustees on such policies to the payment of premiums thereon.
Upon notice at any time during the continuance of this Trust that the premiums due upon such
policies are in default, or that premiums which will become due will not be paid, either by the
transferor or by any other person, the Trustees, within their sole discretion, may apply any cash values
attributable to such policy to the purchase of paid-up insurance or of extended insurance, or may
borrow upon such policy for the payment of premiums due thereon, or may accept the cash values
of such policy upon its forfeiture. In the event that the Trustees receive the cash value of such policy
upon its forfeiture for nonpayment of premiums, the amount received shall be added to the corpus
of this Trust, and shall be administered according to the terms of this Agreement. If the insured under
such policies of insurance, becomes totally and permanently disabled within the meaning of any
policies and because thereof the payment of premiums, or any of them, shall, during the pendency of
such disability, be waived, the Trustees, upon receipt of such knowledge, shall promptly notify the
insurance company which has issued such policies, and shall take any and all steps necessary to make
such waiver of premium provision effective.
3.03. Rilthts in the Life Insurance Reserved to Settlors~ The following rights, exercisable
without the consent of the Trustees or the beneficiaries of the Trust, are expressly reserved by the
Settlors during either or both of the Settlors' lifetimes with respect to each policy included in the
Trust insuring the life of either Settlor and owned by either of both of the Settlors and made payable
to the Trustees hereunder: (i) to exercise all options, elections, rights and privileges accorded to the
Settlors under the terms of any such policy, (ii) to obtain all or any part of the loan value of any such
policy, (iii) to use any such policy as collateral for a loan, (iv) to sell, assign or pledge any such policy,
(v) to receive any dividends, distributive shares of surplus earnings, disability benefits, surrender
values or the proceeds of matured endowments, (vi) to change the named beneficiary to whom the
proceeds of such policy are payable on the insured's death, and (vii) to convert any or all policies into
other forms of insurance or annuities or to permit the same to lapse. The Trustees agree to execute
any and all instruments that may be necessary to permit the exercise of any such right by either or
both of the Settlors, without liability to anyone for so doing. Upon the maturity of any life insurance
policy included in the Trust, whether at the insured's death or at any other time, the Trustees shall
collect the proceeds thereof.
3.04. Duties of Trustees Rel~ardine the Life Insurance, The Trustees shall be under no
obligation or duty whatsoever except with respect to the safekeeping of such policies of insurance
and the duty to receive such sums as may be paid to it, in accordance with the requirements of this
Trust, by the companies issuing such policies, and to hold, manage and disburse such proceeds subject
to the terms of this Agreement. Upon the death of the insured, the Trustees shall make reasonable
efforts to carry out the provisions of this Agreement, including the maintenance or defense of any
suit, provided, however, the Trustees shall be under no duty to maintain or enter into any litigation
unless their expenses, including counsel fees and costs, have been advanced or guaranteed in an
amount and in a manner reasonably satisfactory to them. The Trustees may repay any advances made
by them or reimburse themselves for any such fees and costs from any corpus or income of this Trust.
ARTICLE IV.
DISTRIBUTIONS FROM TRUST
4.01. Distributions To Settiors. The Trustees shall pay to, or apply for the benefit of, the
Settlors, or either of them, or their survivor: (1) so much of or all of the income and so much of or
all of the principal as the Trustees deem desirable for the most comfortable care, support,
maintenance, welfare, education, happiness, luxuries and any needs arising from illness, accidents or
other emergencies of the Settlors, or either of them, or their survivor, and (2) so much of or all of the
income and so much of or all of the principal as the Settlors, or either of.them, or their survivor, shall
request.
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4.02. Settlors' Broad General Power of Appointment. The Settlors, or either of them, or
their survivor, shall have the power at any time, exercisable either (i) by instrument or instruments
in writing delivered to the Trustees during the Settlors' respective lives, or (ii) by the Settlors'
respective wills, admitted to probate within three hundred and sixty-five (365) days from the deceased
Settlor's death, specifically referring to this Paragraph 4.02, to appoint all or any portion of the
principal and any accumulated and accrued income of this Trust. Any appointment made under this
Paragraph 4.02 may be upon any terms and conditions (including further trusts, whether inter vivos
or testamentary, the beneficiaries of which are only the Settlors, the surviving Settlor, or the Settlors'
issue) to or for the benefit of any one or more of the Settlors, the surviving Settlor and Settlors' issue.
However, no such appointment may be made to anyone other than the Settlors, the surviving Settlor
and the Settlors' issue.
4.03. Subsequent Distributions. Upon the death of both Settlors, the Trust shall terminate.
Upon termination, the remaining trust estate shall be divided into separate and equal portions with
one portion for each of the Settlors' children, FRANK A. MAGEL and CHRISTINE L.
CZARNECKI, per capita, to be distributed immediately upon payment of taxes and costs of
administration, with the provision that if both of the Settlors' children predecease the distribution of
the trust estate, then such distribution shall be per stirpes and each share shall be distributed to the
then current Trustee of the REGINA M. MAGEL IRREVOCABLE TRUST, dated April 26,
1999, to be held by the Trustee of such Trust and added to the separate Trust estate for each of the
Settlors' issue, subject to its terms and conditions.
ARTICLE V.
POWERS OF TRUSTEES
5.01. Management of the Trust.
(A) Settlors' power to direct investments. Settlors shall have the power in a fiduciary
capacity to direct the Trustee to purchase, sell, exchange, or otherwise acquire or dispose of assets.
In the case of a variable life insurance or annuity policy, Settlors shall have the power in a fiduciary
capacity to direct the investment of the cash value of the policy among the investment fund options
provided in the policy.
During the Settlors' lifetime, the Trustee shall not exercise any of the Trustee's powers over
these matters without receiving written directions from the Settlors. Notwithstanding the Settlors'
authority or the Trustee's limitations, contained in this section, if the Trustee, in the exercise of its
fiduciary duties, is required (1) to make a discretionary or non-discretionary distribution to a trust
beneficiary, (2) to pay trustee's fees, (3) to pay any taxes relating to the trust, or (4) to pay any other
costs or disbursements relating to the trust, the Trustee shall provide the Settlors written notice of
such payment and an estimate of the liquidity requirements, and the Settlors shall have fifteen (15)
calendar days (from the mailing of the notice) to advise the Trustee which trust assets to liquidate in
order to make the payment and meet the liquidity requirements. If the Settlors do not provide the
advice to the Trustee within the fifteen (15) day period, then the Trustee is authorized to liquidate
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those trust assets which it deems appropriate to meet the liquidity requirements based on the Uniform
Prudent Investor Act contained in section 5.01 (B).
During the Settlors' lifetimes and unless the foregoing powers have been relinquished, the
Trustees shall have no duty to review investments or to suggest investments and shall not be liable
to any beneficiary of this trust or any heir of the Settlor for losses resulting from such investments or
from failure to make investments while the Settlors retain these powers.
Settlors may release their power to control trust investments by written instrument delivered
to the Trustees and may reassume the power at any time be written instrument delivered to the
Trustees. If SettlOr dies or the Trustees received certificates of two state licensed physicians that
Settlors cannot exercise any of these powers, Settlors shall be deemed to have released the powers
and the Trustees shall have full power to take any such action. Settlors shall be deemed to have
reassumed the powers if the Trustees receive certificates from two licensed physicians that Settlors
have recovered the ability to exercise the powers.
Settlors acting under this clause shall be deemed to have waived the doctor-patient privilege
to the extent necessary to implement this clause. Any person may transact business with the Trustees
without inquiring whether the Settlors have directed the action and without inquiring whether the
Settlors have relinquished or become unable to exercise the power.
(B) .Incorporation of Uniform Prudent Investor Act. The Trustees shall be subject to the
Uniform Prudent Investor Act (the "UPIA") as if the UPIA had been enacted in the Commonwealth
of Pennsylvania in the form promulgated by the Commission on the Uniform State Laws in its
exercise if any power to manage and invest the assets of the trust.
The Settlors desire that the Trustees, consistent with the standards of the UPI& continuously
assess the appropriate investment risk tolerance of the trust beneficiaries, and then invest the trust
assets seeking the maximum total return at that level of risk.
The Settlors believe, consistent with modem portfolio theory, that the trust total investment
return will be determined primarily by the trust's asset allocation; not market timing or active
management in security selection. The Settlors believe that the trust should diversify its investments
with regard to assets classes and individual securities to avoid uncompensated risk.
The Settlors do not intend to prohibit the Trustees from engaging in active management of
trust assets where the Trustees reasonably believe active management can aid in achieving the desired
balance between risk and return.
(C) ..Creation oflnvestment Policy Statement. The Settlors direct that any Trustee other
than the Settlors, in managing and investing the assets of the trust estate, establish, in writing, an
appropriate investment policy statement. The investment policy statement shall be reviewed and
updated at least annually.
(D) Employment of Investment Counsel, The Settlors may retain professional investment
counsel of the Settlors' choice; provided, however, a counsel so selected shall be either registered as
an investment adviser with the U.S. Securities and Exchange Commission or a state chartered or
national bank with fiduciary powers. If investment counsel is retained, the Trustees shall abide by the
counsel's decision but shall not be held liable or otherwise surcharged for losses directly attributable
to investments made on the investment counsel's advise. While the Trustees retain investment
counsel, the Trustees shall not be required to review trust investments or take action on trust
investments unless the Trustees receive written instructions from investment counsel.
The Settlors shall have the power exercisable in the Settlors' discretion to discharge such
investment counsel and to employ other counsel or to administer the trust without such counsel.
Consistent with the standards of the UPIA, the Trustees shall have the responsibility to prudently
select any investment counsel, to periodically review the performance of any investment counsel and
to take appropriate action if apprised of facts clearly indicating that counsel is not performing
competently.
(E) Nonliabili~ of Settlor for Directed Investments. The Settlors shall not be liable to
any beneficiary or to any heir for the Settlors' acts or failure to act, except for willful misconduct or
gross negligence, in directing the investments of the trust.
(F) Beneficiary's Power to Direct Investments. Upon the death of the Settlors, the income
beneficiary shall have the authority to direct investments provided that: (i) the grant of the fiduciary
authority to direct investments will not violate estate or inheritance tax planning provisions contained
within this Trust; (ii) the income beneficiary provides an indemnification agreement satisfactory to
any and all other fiduciaries sufficient to such fiduciaries to provide release of authority in the
management and direction of investments; and (iii) the remaindermen provide a consent, waiver, or
indemnification agreement to all other fiduciaries releasing such fiduciaries from claim, loss or damage
resulting from the investment direction of the income beneficiary acting in a fiduciary capacity for
directed investments. If and in the event that there is no current income beneficiary upon the death
of the Settlors, then the remaindermen may exercise this authority provided that (i) the grant of the
fiduciary authority to direct investments will not violate estate or inheritance tax planning provisions
contained within this Trust; (ii) the remaindermen provide an indemnification agreement satisfactory
to any and all other fiduciaries sufficient to such fiduciaries to provide release of authority in the
management and direction of investments; and (iii) the remaindermen provide a consent, waiver, or
indemnification agreement to all other fiduciaries releasing such fiduciaries from claim, loss or
damage. All other fiduciaries under this section may require release from contingent beneficiaries,
guardians, or legal agents of the contingent beneficiaries before releasing the authority of such
investments. It is the direction of the Settlors that the beneficiaries use the investment advisor of the
Settlors at the time of the Settlors' death unless there is a condition of fraud, incapacity or failure of
diligence.
5.02. General Powers. In addition to such other powers and duties as may have been
granted elsewhere in this Trust, but subject to any limitations contained elsewhere in this Trust, the
Trustees shall have the following powers and duties:
A. In the management, care and disposition of this Trust, the Trustees shall have the power
to do all things and to execute such deeds, instruments, or other documents, as may be deemed
necessary and proper, including the following powers, all of which may be exercised without order
of or report to any court:
(1) To sell, exchange, or otherwise dispose of any property, real, personal or
mixed, at any time held or acquired hereunder, at public or private sale, for cash or
on terms, without advertisement, including the right to lease for any term
notwithstanding the period of the Trust, and to grant options, including an option for
a period beyond the duration of the Trust.
(2) To invest all monies in such stocks, bonds, securities, investment
companies or trust shares, mortgages, notes, choses in action, real estate,
improvements thereon, and other property as the Trustees may deem best, without
regard to any law now or hereafter in force limiting investments of fiduciaries; except
that the Trustees may not invest in any stock or securities issued by a corporate
Trustee or issued by a parent or affiliate company of a corporate Trustee.
(3) To retain for investment any property deposited with the Trustees
hereunder; except that the Trustees may not retain for investment any stock or
securities in a corporate Trustee or in a parent or affiliate company of a corporate
Trustee.
(4) To vote in person or by proxy any corporate stock or other security and
to agree to take any other action in regard to any reorganization, merger,
consolidation, liquidation, bankruptcy or other procedure or proceedings affecting any
stock, bond, note or other security held by this Trust.
(5) To use lawyers, real estate brokers, accountants and other agents, if such
employment is deemed necessary or desirable, and to pay reasonable compensation
for their services.
(6) To compromise, settle or adjust any claim or demand by or against the
Trust and to agree to any rescission or modification of any contract or agreement
affecting the Trust.
(7) To renew any indebtedness, as well as to borrow money, and to secure
the same by mortgaging, pledging or conveying any property of the Trust, including
the power to borrow from the Trustees (in either Trustee's individual capacity) at a
reasonable rate of interest.
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(8) To retain any business interest transferred to the trustee, as shareholder,
security holder, creditor, partner or otherwise, for any period of time whatsoever,
even though the interest may constitute all or a large portion of the trust principal; to
comply with the provisions of any agreement restricting transfer of the interest; to
participate in the conduct of the related business or rely upon others to do so, and to
take or delegate to others discretionary power to take any action with respect to its
management and affairs which an individual could take as outright owner of the
business or the business interest, including the voting of stock (by separate trust or
otherwise regardless of whether that separate trust will extend for a term within or
beyond the term of the trust) and the determination of all questions of policy; to
execute and amend partnership agreements; to participate in any incorporation,
reorganization, merger, consolidation, sale of assets, recapitalization, liquidation or
dissolution of the business, or any change in its nature, or in any buy-sell, stock
restriction, or stock redemption agreements; to invest in additional stock or securities
of, or make secured, unsecured, or subordinated loans to, the business with trust
funds; to take all appropriate actions to prevent identif3,, or respond to actual or
threatened violations of any environmental law or regulation thereunder; to elect or
employ with compensation, as directors, officers, employees, or agents of the
business, any persons, including a trustee of any trust held under this instrument, or
any director, officer, employee, or agent of a corporate trustee of any trust held
under this instrument, without adversely affecting the compensation to which that
trustee would otherwise be entitled; to rely upon reports of certified public
accountants as to the operations and financial condition of the business, without
independent investigation; to deal with and act for the business in any capacity
(including in the case of a corporate trustee any banking or trust capacity and the
loaning of money out of the trustee's own funds) and to be compensated therefor; and
to sell or liquidate the business or any interest in the business.
(9) To register any stock, bond or other security in the name of a nominee,
without the addition of words indicating that the security is held in a fiduciary
capacity, but accurate records shall be maintained showing that the stock, bond or
other security is a trust asset and the Trustees shall be responsible for the acts of the
nominee.
(1 O) To merge this Trust with any other trust created in my Will or otherwise,
with similar provisions and purposes and the same beneficiary or beneficiaries, but
only to the extent that the merger of the trusts will not cause the imposition of girl
tax, estate tax, or generation-skipping tax, federal or otherwise.
(11) To set aside as a separate trust, to be held and administered upon the
same terms as those governing the remaining trust property, any interests in property,
for any reason, including but not limited to a concern that such property could cause
potential liability under any federal, state, or local environmental law.
B. Unless otherwise directed, whenever the Trustees are directed to distribute any trust
principal in fee simple to a person who is then under twenty-five (25) years of age, the Trustees shall
be authorized to hold such property in trust for that person until he becomes twenty-five (25) years
of age, and in the meantime shall use such part of the income and the principal of the Trust as the
Trustees may deem necessary to provide for the proper support and education of that person in the
standard of living to which he has become accustomed. If that person should die before becoming
twenty-five (25) years of age, the property then remaining in trust shall be distributed to the personal
representative of the person's estate.
C. In making distributions from the Trust to or for the benefit of any minor or other person
under a legal disability, the Trustees need not require the appointment of a guardian, but shall be
authorized to pay or deliver the distribution to the custodian of the person, to pay or deliver the
distribution to the person without the intervention of a guardian, to pay or deliver the distribution to
the legal guardian of the person ifa guardian has already been appointed, or to use the distribution
for the benefit of the person.
D. In the distribution of the Trust and any division into separate trusts and shares, the
Trustees shall be authorized to make the distribution and division in money or in kind or in both,
regardless of the basis for income tax purposes of any property distributed or divided in kind, and the
distribution and division made and the values established by the Trustees shall be binding and
conclusive on all persons taking hereunder. The Trustees may, in making such distribution or
division, allot undivided interests in the same property to several trusts or shares.
E. If at any time after the death of both Settlors the total fair market value of the assets of
any trust established or to be established hereunder is so small that the Trustees' annual fees for
administering the trust would be equal to or less than the minimum annual fees set forth in the
Trustees' regularly published fee schedule then, in effect, the Trustees in their discretion shall be
authorized to terminate the trust or to decide not to establish the trust, and in such event the property
then held in or to be distributed to the trust shall be distributed to the persons who are then or would
be entitled to the income of the trust. If the amount of income to be received by the persons is to be
determined in the discretion of the Trustees, then the Trustees shall distribute the property among the
persons to whom the Trustees are authorized to distribute income, and in such proportions, as the
Trustees in their discretion shall determine.
F. The Trustees shall be authorized to lend or borrow, including the right to lend to or
borrow from the estates of either or both of the Settlors, at an adequate rate of interest and with
adequate security and upon such terms and conditions as the Trustees shall deem fair and equitable.
G. The Trusteesshall be authorized to sell or purchase, at the fair market value as determined
by the Trustees, any property including any property to or from the estates of either or both of the
Settlors, or any trust created by either or both of the Settlors during life or by Will, even though the
same person or corporation may be acting as executor of either or both of the Settlors' estates or as
trustee of any such other trusts and as the Trustees of this Trust.
9
H. The Trustees shall have discretion to determine whether items should be charged or
credited to income or principal or allocated between income and principal as Trustees may deem
equitable and fair under all the circumstances, including the power to amortize or fail to amortize any
part or all of any premium or discount, to treat any part or all of the profit resulting from the maturity
or sale of any asset, whether purchased at a premium or at a discount, as income or principal or
apportion the same between income and principal, to apportion the sales price of any asset between
income and principal, to treat any dividend or other distribution on any investment as income or
principal or to apportion the same between income and principal, to charge any expense against
income or principal or apportion the same, and to provide or fail to provide a reasonable reserve
against depreciation or obsolescence on any asset subject to depreciation or obsolescence, all as the
Trustees may reasonably deem equitable and just under all of the circumstances.
I. The Trustees are hereby authorized and empowered to purchase such insurance policies
as they deem appropriate.
5.03. Votim, by Trustees. When the authority and power under this Trust are vested in two
(2) or more Trustees or Co-Trustees, the authority and powers are to be held individually or jointly
by the Trustees or Co-Trustees.
5.04. Trustees Power to Deal with Environmental Haz_a_rds. The Trustee shall have the
power to use and expend the trust income and principal to (i) conduct environmental assessments,
audits, and site monitoring to determine compliance with any environmental law or regulation
thereunder; (ii) take all appropriate remedial action to contain, clean up or remove any environmental
hazard including a spill, release, discharge or contamination, either on its own accord or in response
to an actual or threatened violation of any environmental law or regulation thereunder; (iii) institute
legal proceedings concerning environmental hazards or contest or settle legal proceedings brought
by any local, state, or federal agency concerned with environmental compliance, or by a private
litigant; (iv) comply with any local, state or federal agency order or court order directing an
assessment, abatement or cleanup of any environmental hazards; and (v) employ agents, consultants
and legal counsel to assist or perform the above undertakings or actions. Any expenses incurred by
the trustee under this paragraph may be charged against income or principal as the trustee shall
determine.
ARTICLE VI.
SPENDTHRIFT PROVISION
6.01. General Provisions. No beneficiary shall have the power to anticipate, encumber or
transfer his interest in the Trust Estate in any manner other than by the valid exercise of a Power of
Appointment. No part of the Trust Estate shall be liable for or charged with any debts, contracts,
liabilities or torts of a beneficiary or subject to seizure or other process by any creditor of a
beneficiary.
ARTICLE VII.
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CONSTRUCTION OF TRUST
7.01. Choice of Law. This Trust shall be administered and interpreted in accordance with
the laws of the Commonwealth of Pennsylvania.
7.02. Code. Unless otherwise stated, all references in this Trust to section and chapter
numbers are to those of the Internal Revenue Code of 1986, as amended, or corresponding provisions
of any subsequent federal tax laws applicable to this Trust.
7.03. Other Terms. Unless the context otherwise requires, the use of one or more genders
in the text includes all other genders, and the use of either the singular or the plural in the text
includes both the singular and the plural.
7.04. Captions. The underlined captions set forth in this Agreement at the beginning of the
various divisions hereof are for convenience of reference only and shall not be deemed to define or
limit the provisions hereof or to affect in any way their construction and application.
7.05. Situs of Trust. The Trust shall have its legal situs at Cumberland County,
Pennsylvania.
ARTICLE VIII.
COMPENSATION OF TRUSTEES AND
APPOINTMENT OF SUCCESSOR TRUSTEES
8.01. Compensation. The Trustees shall receive as their compensation for the services
performed hereunder that sum of money which the Trustees normally and customarily charge for
performing similar services during the time which they perform these services.
8.02. Removal of Trustees. Settlors, during their lifetimes, or the survivor of them, may
remove the Trustees, or any of them, at any time or times, with or without cause, upon thirty (30)
days' written notice given to the current Trustees. Upon the death of both of the Settlors, a majority
of the current beneficiaries may remove the Trustees, or any of them, at any time or times, with or
without cause, upon thirty (30) days' written notice given to the current Trustees. Upon removal of
the Trustees, or any of them, a successor Trustee(s) shall be appointed in accordance with the terms
set forth in Paragraph 8.03.
8.03. Successor Trustees. The Trustees, or any of them, may resign at any time upon thirty
(30) days' written notice given to the Settlors, or the surviving Settlor, or atter the death of both
Settlors, upon thirty (3'0) days' written notice given to the current beneficiary or beneficiaries
(including a beneficiary's natural or legal guardian or legal representative), hereunder. Upon the
death, resignation, removal or incapacity of FRANK M. MAGEL and REGINA M. MAGEL, or
either of them, as Trustees hereunder, one or more successor trustee(s) may be appointed by the
Settlors, or the surviving Settlor, or after the death of both Settlors, by a majority of the current
beneficiaries. The successor Trustee shall be FRANK A. MAGEL. Unless otherwise designated,
Settlors prohibit the appointment of the beneficiary's or beneficiaries' natural or legal guardian or legal
representative as Trustee and any attempt to do so shall be without authority under this Agreement.
Any other successor Trustee shall be a financially sound and competent corporate Trustee. Any
successor trustee thus appointed, or, if the Trustee shall merge with or be consolidated with another
corporate fiduciary, then such corporate fiduciary, shall succeed to all the duties and to all the
powers, including discretionary powers, herein granted to the Trustees.
8.04. Exoneration of Truste,~, No Trustee shall be liable for any loss or depreciation in
value sustained by the Trust as a result of the Trustee retaining any property upon which there is later
discovered to by hazardous materials or substances requiring remedial action pursuant to any federal,
state, or local environmental law, unless the Trustee contributed to the loss or depreciation in value
through willful default, willful misconduct, or gross negligence.
8.05. .Indemnification of Trustee Upon Distribution. Notwithstanding any contrary
provision in this Trust Agreement, the Trustee may withhold a distribution to a beneficiary until
receiving from the beneficiary an indemnification an agreement in which the beneficiary agrees to
indemnify the Trustee against any claims filed against the Trustee as an "owner" or "operator" under
the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as from time
to time amended, or any regulation thereunder.
ARTICLE IX.
PERPETUITIES CLAUSE
9.01. General Provisions. Notwithstanding anything to the contrary in this Trust, each
disposition Settlors have made herein, legal or equitable, to the extent it can be referred in its
postponement of becoming a vested interest to a duration measured by some life or lives in being at
the time of the surviving Settlor's death is definitely to vest in interest, although not necessarily in
possession, not later than twenty-one (21) years after such lives (and any period of gestation
involved); or, to the extent it cannot be referred in any such postponement to such lives, is to so vest
not later than twenty-one (21) years from the time of the surviving Settlor's death.
ARTICLE X.
REVOCATION AND AMENDMENTS
10.01. Reservation and Limitation of Power.~.
A. The Settlors expressly reserve the powers to: (i) revoke this Agreement by an
instrument in writing delivered to the Trustees while the Settlors are alive; (ii) to alter, amend or
modify this Agreement at any time or from time to time by an instrument or instruments in writing
delivered to the Trustees while the Settlors are alive, but no such alteration, amendment or
modification shall increase the duties nor change the basis for compensation of the Trustees without
the Trustees' written consent; and (iii) withdraw from this Trust any life insurance policy or other
12
property forming a part of this Trust, which property or the proceeds therefrom was added to this
Trust by Settlors. Any such withdrawal by the Settlors shall be considered a revocation of this Trust
solely with respect to the policy or other property withdrawn.
10.02. Effect of Either Settior's Incapaci _ty.
A. If Either Settlor Incapacitated. If at the time of any attempted exercise of (a) powers
reserved to a Settlor, or (b) any other powers to demand and receive the principal of this Trust (if any
are granted in this Agreement), the Settlor, attempting to exercise the power, is incapacitated (as
defined below in subparagraph (C)), through illness, age or other cause, then the Trustees shall
disregard any instructions from such Settlor which have the effect of remaking, altering, amending
or modifying this Agreement in whole or in part or enabling the Settlor to withdraw from the Trust
any life insurance policy or any other property forming a part of this Trust.
B. Settlors' Retained General Powers of Appointment. Notwithstanding the above
provisions, each Settlor shall always have the fight to exercise a general power of appointment, by
a will, specifically referring to the reservation of this general power of appointment in this
subparagraph (B), to appoint all of the Trust property to the estate of the Settlor, the creditors of the
Settlor, or the creditors of the Settlor's estate.
C. Definition of Incapacity. For purposes of this Trust, a Settlor or a Trustee shall be deemed
to have become incapacitated upon the happening of either one of the following events:
(1) Admission of Incapacity. Delivery, by hand, or by mail to the Trustees
then serving, of a written instrument from a Settlor or a Trustee declaring that the
person no longer considers that he or she should possess the power (as Settlor) to
exercise any of the powers reserved by the Settlor in this Article X or any other
powers to demand and receive the principal of this Trust, except the general power
of appointment reserved above in subparagraph 10.02(B), or the power (as Trustee)
to continue to serve as Trustee, or
(2) Medical Certification of Lack of Capacity. Delivery, by hand or by mail,
to the Trustees then serving, of written instruments by two physicians licensed to
practice medicine, one of whom must be a board certified psychiatrist and the other
of whom must be a board certified internist, that a Settlor or a Trustee no longer has
the capacity, as a result of illness, age or other cause: (i) in the case of a
Settlor, to exercise any powers reserved by the Settlor over the Trust under the terms
of this Article X or any other powers to demand and receive the principal of this
Trust, except that notwithstanding any other provision to the contrary, the reserved
general power of appointment of a Settlor, as set forth in subparagraph 10.02(B)
above, shall always be exercisable by the Settlor, or (ii) in the case of a Trustee, to
continue to serve as a Trustee.
13
(3) Powers Personal to the Settlors. The powers reserved by and to the
Settlors in this Article X shall be personal to the Settlors and shall not be exercisable
by any conservator, committee, guardian or like fiduciary, except a valid Durable
Power of Attorney, nor shall they be assignable to nor extend to the executor or
administrator of the Settlors' estates, nor to any beneficiary named herein. Upon the
death of either or both of the Settlors, this Trust shall be deemed irrevocable.
ARTICLE XL
ACQUISITION OF UNITED STATES TREASURY BONDS
ELIGIBLE FOR TAX PAYMENT; PAYMENT OF TAXES,
FUNERAL EXPENSES, AND EXPENSES OF ADMINISTRATION
11.01. Acquisition of Bond,~, The Trustees may, at any time, without the prior approval or
direction of the Settlors and whether or not the Settlors are able to manage their own affairs, acquire
United States Treasury Bonds selling at a discount, which bonds are redeemable at their par value
plus accrued interest thereon for the purposes of applying the proceeds to the payment of the United
States estate tax on either Settlor's estate; and the Trustees may borrow from any lender, including
themselves, with or without security, to so acquire these bonds.
11.02. Payment of United States Estate Tax by Bond Redemption. The Settlors direct
that any United States Treasury Bonds which may be redeemed at their par value plus accrued
interest thereon for the purpose of applying the proceeds to the payment of the United States estate
tax imposed on either Settlor's estate, and which are held by the Trustees, shall, to the extent of the
amount determined to be required for payment of the estate tax, be distributed to the legal
representative of the deceased Settlor's estate to be used by the legal representative ahead of any
other assets and to the fullest extent possible to pay the estate tax.
11.03. Payment of Death Taxes and Other Estate Settlement Costs. After the Trustees
have complied with paragraph 11.02, above, and have ascertained from the legal representative that
all such bonds have been redeemed in payment of the United States estate tax, the Trustees shall also
ascertain from the legal representative whether the legal representative has sufficient assets to pay the
remaining legacy, succession, inheritance, transfer, estate and other death taxes or duties (except the
additional estate tax imposed by Section 2032(c), or corresponding provisions of the Internal
Revenue Code of 1986 applicable to the deceased Settlor's estate and imposing the tax), levied or
assessed against the deceased Settlor's estate (including all interest and penalties thereon), all of which
taxes, interest and penalties are hereinat~er referred to as the death taxes, interest and penalties. If
the legal representative advises the Trustees that insufficient funds exist to pay all the death taxes,
interest and penalties, the Trustees shall then pay to the legal representative from the trust property,
an amount equal to all the death taxes, interest and penalties in excess of the funds available to the
legal representative for this purposes, which payments are to be made without apportionment. In
making the payments, the Trustees shall use only those assets or their proceeds which are includable
in the deceased Settlor's gross estate for purposes of the United States estate tax. If the deceased
Settlor's legal representative advises the Trustees that there are sufficient funds available to pay the
14
death taxes, interest and penalties, then the Trustees may nonetheless pay to the legal representative
from the trust property, all or any portion, as the Trustees in their sole discretion deem advisable and
in the best interests of the deceased Settlor's beneficiaries named in this Trust, of(a) any such death
taxes, interest and penalties, whether or not on property held in or payable to the Trust, said payments
to be made without apportionment, (b) the deceased Settlor's funeral expenses, (c) claims and other
debts of the deceased Settlor, whether allowed against the Settlor's estate or not, (d) expenses of
administering the deceased Settlor's estate, and, (e) bequests under any will or codicil executed by
the deceased Settlor.
IN WITNESS WHEREOF, the Settlors and Trustees have hereunto set their hands and seals
as of the day and year first written above.
~,c; /,r/. /y? e .~,.~ (SEAL)
NAM. MAGEE, SETTLOR
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF '~,l l?') g~f'q lO tO~/(.
· SS:
On this, the ,J?/d ay of April, 1999, before me, a Notary Public, the undersigned officer,
personally appeared FRANK M. MAGEL and REGINA M. MAGEL and the above witnesses,
either known or satisfactorily proven to me, whose names are subscribed to the within instrument
executed the same, and that said persons acknowledged that they executed the same for the purposes
therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
N-ot~try Public
My Commission Expires:
J Notarial Seal
J Traci L. Sepkovic, Notary Public
I Carlisle Bom, Cumberland Coun
[ My Commission Expires May 31, 19tY99
15
The foregoing Trust Agreement was delivered, and is hereby accepted, at Mechanicsburg,
Pennsylvania, on the 27th day of April, 1999.
WITNESS:
RE{fINA M. MAGEE?TRUSTEE
16
SCHEDULE "A "
SCHEDULE
REFERRED TO IN THE ANNEXED
TRUST AGREEMENT
DATED APRIL 27, 1999
FROM FRANK M. MAGEL AND REGINA M. MAGEL,
SETTLORS
TO FRANK M. MAGEL AND REGINA M. MAGEL,
TRUSTEES
PROPERTY DESCRIPTION:
PA REV-1500
SCHEDULE F
JOINTLY OWNED PROPERTY
CITIZENS BANK
P.O. Box 7899
Philadelphia, PA 19101-7899
March 14, 2002
Gates, Halbruner & Hatch, P.C.
1013 Mumma Road, Suite 100
Lemoyne, PA 17043
Estate Of Frank M Magel
Date of Death: 10/20/2001
SSN 125-05-3080
Dear Sir/Madam:
In accordance with your request, the attached information sheet has been provided in the
above decedent's name as of his/her date of death.
For IL or LC accounts, contact our Loan Department at 1-800-537-5591. For all other inquiries,
please call (215) 553-1585.
Sincerely,
a Tillman
Deposit Support Services t99-5355
Page 1 of 2
CITIZENS BANK
Account
Number Account Title
Thursday, March 14, 2002
222-602-3287
Frank M Magel
Regina M Magel
Date Opened: 08/15/1969
Principal Bal Int from Last
as of DOD Posting to DOD
$2,659.36 $0.00
Account Type: DD
Account Bal YTD Int to
as of DOD DOD
$2,659.36 $0.00
142-112-5640
Regina M Magel
Frank M Magel
Date Opened: 01/05/1988
Principal Bal Int from Last
as of DOD Posting to DOD
$6,267.10 $0.00
Account Type: DD
Account Bal YTD Int to
as of DOD DOD
$6,267.10 $0.00
885-004-5322
Frank M Magel Or
Regina M Magel
Date Opened: 05/12/1995
Principal Bal Int from Last
as of DOD Posting to DOD
$24,543.23 $25.36
Account Type: DD
Account Bal YTD Int to
as of DOD DOD
$24,568.59 $417.68
Page 2 of 2
PA REV-1500
SCHEDULE G
INTER-VIVOS TRANSFERS and
MISCELLANEOUS NON-PROBATE
PROPERTY
DEED and APPRAISALS for
TWO HOUSES LOCATED at:
111 West Winding Hill Road
Mechanicsburg, PA 17055
TAX PARCEL NO. 42-26-0241-025
UPPER ALLEN TOWNSHIP
ROBE2T P.
REOOR~E,'I OF DEEDS
OUN(BERLAIJD OOUiqTY- PA
'99 Pl ¥ 3 PPl 1 O8
DEED
THIS DEED is made the 27~ day of April, in the year nineteen hundred and meW-nine
(1999).
BETWEEN FRANK M. MAGEL and REGINA M. MAGEL, his wife, now of 111 West
Winding Hill Road, Mechanicsburg, Cumberland County, Penn~,Iva.,fia, 17055, pa-ties of
the first part, GRANTORS,
AND
FRANK M. MAGEL and REGINA M. MAGEL, husband and wife, Co-Trustees of THE
MAGEL FAMII,y REVOCABLE TRUST, dated April 27, 1999, parties of the second
part, GRANTEES.
WITNESSETH, that said parties of the first part, for and in consideration of the sum of One
($1.00) Dollar, lawful money of the United States of America, well and truly paid by the said
parties of the second part to the said parties of the first part, at or before the sealing and
delivery of these presents, the receipt whereof is hereby acknowledged, have hereby granted,
bargained, sold, aliened, enfeoffed, released, conveyed and confirmed, and by these presents
do grant, bargain, sell, alien, enfeoff, release, convey and confirm unto the said parties of the
second part, their heirs, successors and assigns,
ALL THAT CERTAIN piece, parcel or tract of land situate in the Township of Upper
Allen, County of Cumberland and State of Pennsylvania, more particularly bounded and
described as follows, to wit:
BEGINNING at a spike in the center line of a Public Road leading from Graham's
Schoolhouse to Chestnut Hill Cemetery, which said road is known as Route No. 21025 at
comer of lands now or late of William E. Bmbaker and wife; thence along the center line of
said Public Road, North seventy-six (76) degrees thirty (30) minutes East, four hundred
twenty-three and six-tenths (423.6) feet to a point in the center line of said Public Road at
comer of lands now or late of Theodore R. Trimmer and Grace I. Trimmer, his wife; thence
along said lands, South eleven (11) degrees East four hundred forty-two (442) feet to an iron
pin at comer of lands now or late of Theodore R. Trimmer and Grace I. Trimmer, his wife
and lands now or formerly of Fred L. Glaise; thence along said lands now or formerly of
Fred L. Glaise South seventy-nine (79) degrees West four hundred forty and sixty-five
hundredths (440.65) feet to a point on line of lands now or late of William E. Brubaker and
wife; thence along said last mentioned lands North nine (9) degrees twenty (20) minutes
West four hundred twenty-three and seven-tenths (423.7) feet to a spike in the center line of
the aforementioned Public Road, the point and place of BEGINNING.
HAVING thereon erected a one story frame dwelling and other buildings.
THE AFORESAID description is made in accordance with survey made October 28, 1957
by W. G. Recehel, Registered Surveyor.
BEING the same premises which John E. Keener, a single man, by his deed dated December
8, 1967 and recorded in the Recorder of Deeds Ot~ice of Cumberland County on December
15, 1967, in Deed Book P22, Page 523, granted and conveyed unto Frank M. Magel and
Regina M. Magel, his wife, Grantors herein.
THIS IS A TRANSFER FOR NOMINAL CONSIDERATION TO TRUSTEES OF A
LIVING TRUST AND IS THEREFORE EXEMPT FROM THE PAYMENT OF
REALTY TRANSFER TAX.
TOGETHER with all and singular the buildings and improvements, ways, streets, alleys,
driveways, passages, waters, watercourses, rights, liberties, privileges, hereditaments and
appurtenances, whatsoever unto the hereby granted premises belonging, or in any wise
appertaining, and the reversions and remainders, rents, issues, and profits thereof; and all the
estate, right, rifle, interest, property, claim, and demand whatsoever of the said Grantors, as
well at law as in equity, ot~ in, and to the same.
TO HAVE AND TO HOLD, the said lot or piece of ground above-described, with all and
singular the buildings and improvements thereon erected, hereditaments and premises hereby
granted, or mentioned and intended so to be, with the appurtenances, unto the said Grantees,
their heirs and assigns, to 'and for the only proper use and behoof of the said Grantees, their
heirs and assigns forever.
AND the said Grantors, for themselves, their heirs, executors and administrators, do
covenant, promise and agree, to and with the said Grantees, their heirs and assigns, by these
presents, that they, the said Grantors, and their heirs, aH and singular the hereditaments and
premises hereby granted or mentioned and int~ded so to be, with the appurtenances, unto
the said Grantees, their heirs and assigns, against them, the said Grantors and their heirs, and
against all and every person and persons whomsoever lawfully claiming orto claim the same
or any part thereof, by, from or under him~ her, them or any of them, shall and will, subject
as aforesaid, SPECIALLY WARRANT AND FOREVER DEFEND.
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
SS:
RECORDED in the Office for,~Recording of Deeds, etc., in and for said County, in
Deed Book No. [~,~ , Page /%'~ .
WITNESS my hand and official seal this
,1999.
Recorder of Deeds '
CERTIFICATE OF RESIDENCE
I hereby certify that the present residence of the Grantees herein is as follows:
The Magel Family Revocable Trust
Mr. & Mrs. Frank M. Magel, Co-Trustees
111 W. Winding Hill Road
Mechanicsburg, PA 17055
RETURN DEED TO:
The Magel Family Revocable Trust
Mr. & Mrs. Frank M. Magel, Co-Trustees
111 W. Winding Hill Road
Mechanicsburg, PA 17055
orney ~Srrantees
IN WITNESS WHEREOF, the said parties of the first part have hereunto set their hands
and seals, the day and year first above-written.
SIGNED, SEALED AND DELIVERED
IN THE PRESENCE OF
COMMONWEALTH OF PENNSYLVANIA ·
COUNTY OF CUMBERLAND ·
SS:
On this, the 27~ day of April, 1999, before me, a Notary Public for the
Commonwealth of Pennsylvania, the undersigned officer, personally appeared FRANK M.
MAGEL and REGINA M. MAGEL, his wife, known to me (or satisfactorily proven) to
be the persons whose names are subscribed to the within instrument, and acknowledged that
they executed the same for the purpose ~erein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
My Commission v-xpu'es: --..,,. - - .., ~..
! Trail L. Sepkovic, Notary Public , *: .... . }" .. ~-. c
[ My Commission Expires May 31,199g ' ' J, ."
ARMAN F. 1,1!O./\PI'RAISI:,I),
2AI.1162A
APPRAISAL OF
A SINGLE FAMILY RESIDENCE
LOCATION
.~t2-t Winding 1 lill Road
Mcchanicsburg
I'A
17O5 5
CLIENT
: Gales, I laibruncr 8: I latch
1013 Mumma Road, l,cmoync, PA 17043
AS ¢)F DATE : Jul>, 27, 2002
A I'1' RA I S ER :ArmanF. I,co, ('RI~A
ARMAN F. I,f~O, APPRALqER
Gates. I la/bruncr & I latch
1013 Mtmlma Road. l,emoyne, PA 17043
In accordance with your request, I have personally
inspected and appraised the properly located at:
~1 Winding tlill Road
Mechanicsburg PA 17055
Thc purpose of the appraisal was to estimate the market
value of d~c property, as improved, in unencttmbered fcc
simple title of ownership.
The subject property consists of:
Rooms
3 Bedro0rhs-
Bath(s)
The Ranch style residence contains
Gross I.iving Area.
it is my opinion that the estimated market value of the
property as of Jul)' 27, 2002 iS $ 161,01}(}
The above intbrmation has been automatically extracted
Ii'om thc appraisal and inserted in this cover page.
2.508 square feet of
Respectfully submitted,
Day One Forms fn¢ Windows, 1997 ! 800-GET-DAyS
Propelly Descriptioni] I UNIFORM RESIDENTIAL APPRAISAL REPORT File No. 2,,\1 1162..\
Property Address l'q.I \\qndh)~llillP. oa,J City Mucllalfic, hurg State PA ZipCode 17)
Legal Description Attached County Cumberland
~- Assessor's Parcel No. 038 Tax Year20t)2 R.E. Taxes $ t).O(tS?ecial Assessments $
~ Borrower NA Current Owner NA Occupant: ] ~Owner ~Tenant ~ V~c~
' Prope~y rights appraised ~ Fee Simple'Leasehold Project Type ,'~ PUD ~Condominium (HUD~A only) HOA$
Neighborhood or Project Name Map Reference 42-10-0646 Census Tract 0116.00
Sale Pri~ $ NA Date of Sale NA Description and $ amounl of loan charges/concessions ~o be paid by seller NA
~ Lender/Client (;ales. l lalhruncr ~ I latch Address IOI 3 Mumma Road. I.cmoync. PA 17043
'Appraiser Arman F. l,eo. ('RI{A R%R Address 3Og I,:a~t Penn I)rivc. I':nola. PA 17OI I
Location ~Urban ~Suburban~Rural J Predom nant J Sin~lefamilyhousin~ J Present land use % Land us
Bruit up J lover 75% ~ X ~25-75% I~Under 25% J oc ....... I PRICE AG~ ~ , ; e change
Gro~hrate ~Rapld ~jStable J~Slow J[X~:';~;y J$(0~ Low ,yrS~OJ~:~,,y
Prope~y value ~X Jlncreasing [-] Stable ~Dec n ng J J--~Tenant J ' ~0 -' - ~"J~ - - y J j~ p ocess
' ' ~ ~ o i i~ ~lg~ 3Dieu ~-lamily lTD:
Demand/suppry ~Sho~age ~'nba'an~Oversupp,yJ~vacant(0_Sm)J Predom,nant JCommercial 0J
MarketingtimeL ~Under3mos. ~ ~3-6mos. J ~Over6mos. Jr JVacant over5%)~ 150 35J J
Note: Race and the racial compost on of the neighborhood are not appraisal factors.
' Neighborhood boundaries and characteristic: Subject is Iocalcd ab(mi I mile l~om thc intersection ol'Rmitc 114 and W. Windininu I lill
and 2 miles nurlh of R.ulc 15.
Factors that affect the marketabili~ of the proposes in the neighbo~ood (proximi~ to employment and amenities, employment stabili~, appeal to market
Thc n~i~bhorhood is comprised uf properties roi]curing similar in qoali[~, mum c m ~cc, dcsien and appeal. A~.ailabilit) lbr tilts o~ighbo~
most public services c()mbincd ~ilh av~rauc ~cccss [o cmpIuymenL shuppin~ and schools ui~cs a similar appeal m thc market on oibcr nc~rb'.
neighborhoods. '
Marke conditions in the subject neighborhood (including support for the above conclusions related lo the fiend of property values, demand/supply, and marketing time
' ' such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions etc.):
Overall market conditions arc considered stable morlgalzc inlcrcsl rates arc ava able at 6% Itl 8%) lixcd Ibr 30 )'curs. Marketing lmm and
supply arc in linc tbr similar areas in this market. New constmcti(m activity is moderate, No adverse marketability ncighborhoud
Project Infuiiiiation for PUDs (If applicable) -- Is the developer/builder in control of the Home Owner's Association (HOA)? ! jYes
Approximate total number of units in the subject project N/A Approximate total number of units for sale in the subject project N,.\
Describe common elements and recreational facilities: N/A
Dimensions Ncc Deed 44 65 x 4')3 3
' .... -- I Topography Rcllin~
Site area 186.703 SF 4.46 AC Corner Lot I ]Yes [-X~No S ze 186 7(~'3 SI:
Specific zomnq classification and description Rcsidcnlial ' Sh
Zoning comp a ,~ j X Legal L ]Legal nonconfo~ng (Grandfather~ use, ~ ~-~ ~ ...... L ape Irregular
' ' '- t L_ J cU~' I ~ ~u zon ng/uralnage Appcam Adequate
Highest & besl uso as improved: j Xq Present use [~ Other use (expla n) ·
Utilities Pu~ O~her I ......... , - iV,aw Average
~--~e ~mprovements / e Public Phv '
E ectricitu ~1 J ..... YP -~ ,~eJLandscap~ng Average /or Area
Gas ' ~ . j~[reet Asphalt ~ ~ JDriveway sufla~ Asphah
..... ~ /Cu~/gutter None ~ ~lApparenleasemens Nm,cA archi
z L I __ JStreet hghts None ~ F I JFEMAZone C
~ Sto~ sewer ~ .... JAIley N0n~ ~ ~J'~ .....
C . I [ ~ , ir:~ Map No. 420372 OOIOC
omments (app~ent a~rse easements, encroachments, s~c~al assessments, slide areas, ill~aJ or I~al nonmnforming zoning use, elc.):
~ No adverse eLLSUlnenls, cncoracbmunts or spccJaJ assessnlents holed at time of inspeelioa.
GENERAL DESCRIPTION
No. of Units
No. of Stories
Type (Del./Att.) [)ct
Design (Style) R~u~cb
Existing/Proposed Exisdng
Age (Yrs.) 40 ) rs
EXTERIOR DESCRIPTION
Foundation Concrete
Exterior Walls
Roof Surface Shingles
Gutters&Dwnspts. Aluminum
Window Type DI !
Storm/Screens Existing
~lanufaclured House No
FOUNDATION
Slab Brick
Crawl Space Crawl
Basement None
Sump Pump None
Dampness None Noted
Settlement None Noted
Infestation None Noted
KITCHEN EQUIP. ATTIC
None
Stairs
Drop Stair
Scuttle
BASEMENT
Area Sq. Ft.
% Finished
Ceiling ()
Walls
Floor 0
Outside Entry ()
Finished area above rade contains: 8Rooms- 3Bedr~
INTERIOR Maleriais/Condition _HEr'~TiNO ~
Floors CptllW/Vin/Aver ,Type BB tot [~l
J Refrigera
Walls ' Pan/Dgwl/Avcr Fuel ()il ~Rang-e/O~en~
~ Trim/Finish WeD&Aver
~ Disposal
; Bath Floor Vinyl/Aver
Bath Wainscot Fiberglass/Aver Central NA ~ JFan/Hooc
;Doors Wood/A .... ~Oth ,el Window JUicrowav
Condition JWasher/Dry
er I .,%. i
~ Additional features (special energy efficient items, etc.): 5 euiling/hns
Floor
~eated
:inished
Garage
Attached
Detached
Built-In
Carport
Driveway
2# of cars
Att
'INSULATION
Roof
Ceiling
Walls
Floor
None
Unknown
AMENITIES CAR STORAGE:
Patio
Deck
Porch
Fence
Pool
Yes
~ Condition of the improvements, depreciation (physical functiona and external), re airs need --'
,~, I here arc no physical or lunc ola bs( Icsccacc Thc suhi-,.~ i.; ....... , ,-.- P . ed,, quahty of construction, remodehng/additions etc
~A
dverse environmental conditions (such as, but not hmded to, hazardous wasles, toxic substances, etc.) present in Ihe improvements on t e s e
i or in the immediate vicmdy oi' the subject property: Appraiser is t an expert m thc idcntilication or'hazardous substanc,. -
/ed~ie'~ac For~ ~[~ ~ 93 '1' ..... 'L'e Fnvironmcnl;lJ J)iselalmcr on ,,ll;,ehe(t Sl;It~n,LTl~l ,,f [,trailing C,m,liti,ms.
ARMAN F. LEO, APPRAISER
Valuation Section
ESTIMATED SITE VALUE .................... = $
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:
Dwelling _. 2,508 Sq. Ft @ 44.2.1 = $ !09_,513
Bs_m[_ ..... 0 Sq. Ft. @ 0.00 = 0
tlousehold
= 5,000
Garage/Carport 440 Sq Ft. @ 14.80 = 6,512
Total Estimated Cost New ........... = $ 121 J)25
' Physical Functional External
i Less
Depreciation (,.ti511 O~ t) = $
Depreciated Value of Improvements ................ = $
"As-is" Value of Site Improvements ................. = $
SUBJECT
Winding I lill Road
20,000
Mcchanicsburg
Proximity to Subject
{ Sale~ Price
~ Price/Gross L!~: Area
~ Data and/or
J Verification Source
i VAL~IE ADJUSTMENT
Sales or Financing
Concessions
Date of Sale/Time
Location
~ Leasehold/Fee Simple
i Site
! View
i Design and Appeal
::.I Quality of Conslruction
Age
Condition
Above Grade
Room Count
Gross Living Area
Basement & Finishe¢
Rooms Below Grade
Functional Utility
He_ating/Cooling
Energy Efficient Item
Cartage/Carport
Porch, Patio, Deck,
Fireplace(s), etc~
Fence, Pool, etc.
Net Adj. (total)
Adjusted Sales Price
_o~ Comparable
NA
Suhurhan
Fee Nimplc
4.46 At'
Average
Ruoch/Aver
~VC~gC
6,O51
I 14,974
IO,t)Ot)
! .......... 144.t 74
COMPARABLE NO. 1
398 Alison Average
Xvcrage A_yeragE
2/Car Att 2/Car Int ....
Patio Patio
None Fireplace
None/Nono Nolle~onc
Mechanicsburg
1.5 Miles
$ NA
Inspection ...... .CPML_$ett ed, STEB
DESCRIPTION DESCRIPTION
, C~on¥ .......
5/28/02
Suburban
Fcc Simple
0.24 AC
Average
. Ranch/Aver
Average
Itt )'rs 31 yrs
~veragc ] Average
Total ]BdrmsI Baths /Total BdrmsJ Baths
81 31 I.s] 71 3l 2.ti
2,508Sq. Ft. J 1,890Sq. Ft.
J Rcc Rm/Bath
Average Average
3il Rad !~lc_c R~d/CA _. _
-3.4 % Net
178.00(]
File No. 2ALI 162.4.
Comments on Cost Approach (such as. source of cost es: ,"~,z.~
site value, square foot calculation and for HUD, VA aha F--~-.-'
the estimated remaining economic life of the properly)
-Se%~J~;JIXe~h. '
Cost ligures from Marshall & Swift
Residential ('(}st I landbook and
Est. remaining economic lilk-50 yrs
COMPARABLE NO. 2
1022 Crystal Crcck Circle
Mechanicsburg
Miles
- ~: Ss ,57,ooo
CPML_ Settle_d, STEB
DESCRIPTION Adjustment
71 DOM
Cony
3/15102
Suburban
Fcc Simple
0,44 AC 4,00C
Average
R~nclVAvcr
Average
16yin
Average
Total IBdrmst
71 3I
. 1,840Sq. Ft._
Full
Unlin
Average
Av_erage ....
2/Car Att
Patio
Fireplace
-0,S3 % Net
COMPARABLE NO 2
231 Rccscr Road
Camp I Iii{
4 Milcs
}$
$ . _73.04[
CPML Settled, STEB
DESCRIPTION
18 I)OM
Cony
Suburban
Fcc .'qimplc
(}.42 AC
Average
Rauch/Avcr
Average
35 yrs
Baths
2,300Sq. Ft.
Full
Rec Rm
Average__
Average
2/Car 6tt _
3 Fireplaces
NOJle/No/lC
-6. ~ 3 % Net
loS.f) ,
-1.2{ ·
-I.5~.
157.7n,,
Comments on Sales Comparison (including the subject property's cOmpatibility to the neighborhood, etc.): All nrarkel data is similar in
cooslruction hr IIle sub cci properly Comparable sales arc Ibc most recent, sintilar, nearest sales available. All compurubles have hccu closed
and settled on the above dates.
$ 55 700 to$ 7? 000
ITEM SUBJEC COMPARABLE NO. 1 COMPARABLE NO. 2
Date. Price. and Data COMPARABLE NO 3
Source, for prior sales /A N/A N/A
_within year of appraisal N/A
Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables
i within one year of the date of appraisal: No prior sales tlr list ng for subject within onc),ear of appraisal.
...... !t Rent $ N/A /Mo. x Gross Rent Multiplier N/A = :~ N/A
This appraisal is made X "as is' i I subject to repairs, alterations, mspactions or conditions listed below I J subject to complelion per plans and specifications
Conditions of Appraisal: Sec attached Special Cond t o ts Addendum and Statcmcg_t of Limiting Conditions
~ Final Reconciliation: Thc Comparison Appro~h, r~i-ntbrccd by thc Cost Approach, provides a go~d indication of Market Value. Chose $161 ,OOO
lbr value. . .
[o esbmate the market value of the reap property that is [he subject of thts report, based on the above conditions and the cerlificafion, contingent
and limiting cond tions, and market value definition that am staled in the attached Freddie Mac Form 439/Fannie Mae Form 1004B (Revised 6/')I
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED. OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF July 27, 20O2 )
WHICH IS THE DATE OF INSPECTION AND THELEFFECTIVE DATE OF THIS REPORT) TO BE $ 161.000
APPRAISER: '
-~'~'~ ..... '" SUPERVISORY APPRAISER (oNLy IF REQUIRED):
Name Arman F. Leo, (~REA ..................... Did IDid Not
Date Report Signed ~,~ ./,~ ~ .............. Name_ ..... ' Inspect Properly
- - ............. Date R_e,pqr} Sig_ne~l .........
State Certification # R1.-002051-1. ._ State PA - - State Certificotion-~'-_T ~ ....... State
SKETCII, MAP AND PIIOTOGRAPH ADDENDUM
Borrower/Client
Estate Fr~]k Maqel
Pr, operty Address
Iii T~ W.' Wi~din9 Hill Road
City, Mechau~icsburg CountyCumberl~d State
L~ndcr Gates. Haldrtuler & Hatch
Pa. Zlp Code 17055
34'
LAYOUT SKETCH
Shed
28'
-- 2/Car Car~g~
50'
25
25
26
26' I8'
LOCATION MAP (*SUBJECT PROPERTY)
I
Goodville
~DOhhally Mills
17~
oMckee
REGIONAL MAP
tdch ·
°Acker ~ ~,~ '_'~i ~ ocars°nvflle
Nalifax
eld
oDellville ~.
.Dauphin
Dale
tat Holly Springs
1341
P
each Glen
Idaville
3ardners
~ Aspers
... c~/.! .. a_~[ (;r)T, Inc.~Rcl. OI/2OOl
W;lls,,il~/
East,
[6161
API'ILA[SAL ADI)IiNDUM SPI1CIAL CONI.)ITIONS
PROPI~RTYAI)DRIZSS . . 111 W. Winding Hill Rod.d, MecM~icsb~9, P~. 17055
T[I~ hJJlowlll8 checked IIClIIa ar0 a[)cct~, comlllfo, s Iha~ were Iflcnilflod by Ihla flpi)raJial d~lgn~ tile ]nspcctlou bi'tim ,nbJc~t property, tho
coml)flrabla sales ami their noiihbmboods mid loc~thm~. Uulass oiito~Jso noted, lbo conditions alisa apply to ti~o subject p~npc~ un tho oomp~ablcl
used DO NOT flffcct lbo market vai&ta o[iha ~ltura markctabilft~ o~the subject property being appraised.
__i.) Tho eof!Jeer ia located iff a rmal area and [s less flt~ 2f% built-up. This condition is t~pJcaJ mid cmnmoil for tho mcml nod DOE~
a~cct tiao lun~k et value (~r fiitnfc n~kctability o~ ibc subject.
__2.) Commercial uses are located wilhiu tho subject's ualgbbogtood. These uses ara ~pica[ o[fJmilar neighborhoods and DOES
~.) ]nduslrJal uses ~re located within tho subject's n,il~hbutboud. Tb~ proacocc of [uduslria[ uses is typ[oal iff tho uclghbn~boud and DOES NOT
affect tbs ;ua~ket vaitm m' allure ]l]~kctabJlJty uf thc s,bJcct propcxty.
~4.) Vacnut'and undovclol)~ land ua~ arc located witbht lbo sabJcct's neighborhood. These uses are typical for tbs nclghbmilood ami I)O NOT
affcct lbo market VahlO or lhlur~ ulatketab[lJty ()f tilt, suhJcot proj~crly.
_~.) Tho piedumiunnt value iu lbo ~161~bofh~md la I~s titan lbo market value of tho ~d0ect ~rope~. This Is du~ to ilia ve~ wide range of valu~
lnmkohd)Jlity.
__6.) Th~ s~bJ~ct ~ropcrty Is Iocatc~ ~ a F. I. A. [dcotIfled flood zon~. This condition DOES NOT affect market valu~ or future marketability tho subject when flood Juauraocc coverage is rcquited.
~7.) l)ampuess Is noted in tho ht~ecmeut ofth~ mtbJeot. This condition is considered typical Jn dw~lllogs of this sWio and DOES NOT affect
mat'kct value or allure lua[kclnhJ[ily uftbo ~ubjcct. Stat~dfng or nmuiug water was not present oo tho bascmcot
· . ~8.) Tho subject la older than I'ivo (~) years old. All mechanical gystcms, Including lbo heating, clcchlcal and plumbing ayalcma, apj)o~ upon
visual btspcction m bo in wolkblg older. No w~r~ll[cs gtc hnpi[cd iu fids statement.
~9.) 'Die cl~cttlcal system was uot ~mtoctcd during inspection.
~10.) ~to water sm'vice was nut connected dt~Jng inspection.
__l l.) ~o beating systo,} was shut down during luspccilun.
~l~.) 'l~lo basement I]oor Is a dhl floor. 'fills ~,dltlml Is c()fluuffo aud typical for tho mona and DOES NOT affect lbo market vnhlo
InalkclabJiJty ,ftbc subject. 'l'bo presence ufa dl~ fluor DOES NOT peso a huabh ,r aafct~ hazard.
area mid Ihis 51yJo dwelling and DOES NOT affect tho market value ut ~lUl'O marketaldllty (if tho ~ubJcct )roporly.
~14.} The land value exceeds 30~ o[tho total value duc to high dcm~d for vac~t la~d In this nolghb~rhood, ~]Is condition ia oonslderod
cmnmon ami typical for die fteigbborhood ~d DOllS NOT affect Ihs market value or future marketability of thc subject property.
~[~.} 'Die land value exceeds 30~ of file total valtm. ~la la due to tho lar~e Hz~ of tho all~ ~xJs condition la oonsldored to bo typical ~d
common ami l)O~S NOT affect tho market v~ua or ~tuto marketability of 1}]~ subJeat prope~.
~l 6.) Individual adJushncnts wm'a ~qnlrcd that exceed 10%. ~tcso adjustments Wine required duo to die lack of moro sbnllar comparables
subject's market nclBhh~rlmod. All throe compazabLos me considered Ihs best available.
~t 7.) Tho iutal adJushneut cxcccd I~. ~ds Is duo to rite leek of mote almila~ cmnparables In tho subject's m~koi nan.
__ l R.} Oue ur nmre of lite comparaM~ ar~ old~ than slx (6) monlhs. Ald&ough those are comp~ablo propcdlas Jn tho st/bJect's ~ea nol~c have
sold recently, thorofiuc, snlus tu oxccss of six (6) mondts old bad to bo used all Ibrco compa~nblca used were tho bost'~vailablc.
19.) One or mor~ of tho comlmrahles used I~aro located mor~ tbau: ·
( ) One milo fur mba, Iocalhms. ( ) 'l'htco milos for ~ulmfb~ locations, ( ) five milos for m~l looallons fi'om tho subject. 'J'hoso compareblos
compnrubics available.
~20.) Ilouflftg cmtlflcatlo. Js
~1.) Plumbiu8 certification Is augg~ted.
~Z.) ~leclHcaJ ccrllflcatlou Is su~cstcd.
__Z3.) llcatJng certification is suRe,cd.
~4.) Flood Ilazard lnsnraltco is
~2~.) Scllcr is payJug part or all of buyers ~los~g costs. Tills DOES NOT affect liio market value or ~turo marketability of file ittbJcct property.
~6.) Thcrc are nu gpccioi cnudlthma or otb0r tcqulrcmcn~ liter would affect market vahle or lhture markclabl ty in tills Appraisal ]~oport.
~27.) 'l'ltc perauual lU.l*ctty hlcludcd tn tho sale of tho sub, cci wa9 not hlcludcd lO the ma(kal value nlrb0 mil)Joel properly.
~28.) The ........ zlm[u8 l)O~ NO'I' affect tbs present or lituro matkoiabJlll~ ()f lbo
'~9.} This appraisal was prepared In complines wltlt Rcgulatlo, It-4 lC.
~o.) h~ Ildn npprnlsal ~sl~mneni, th~ ~xlstcn~ ofpot~u[lal }lazardo~l nlntarJuls or tox]o eubalances used in toast,ellen or inaJol~tanc~
- ii[opel ay. Bile,It It3 gases ~)tuld lu (bo eli?lrOUl~[, forfnaldchyde Insulation. laden 8asea. tnxlo waste, ute. WJl[~i fltay nr nl&~ not bo presoltt ou the
pl'opclty, bas ,ut bccu clmsldcted. ~lo apple{sar Js not quail/lcd to (Ictcct such qubslnuccs wu urge II~a ollmlt t, r=tnlu nu export ragardl,g Ihoso
.
Statement of Limiting Conditions
File #: 2ALI 162A
DEFINITION OF MARKET VALIJE: The most probable price which a property should bring in a competitive and open mark,::
trader all conditions requisite to a thir sale, thc buyer and seller, each acting prudently, knowledgeably and assuming thc price is no:
all'coted by undo stinmlas. Implicit in ibis dclinition is the consumation ol'a sale as of a specified dale and tile parsing el'title
l?om seller to hayer nnder conditions whereby: ( I ) buyer and ~cllcr arc typically molivalcd; (2) bolh petites arc well iulbrmcd ,r
well ad~ iscd, anti each acting in what ~ considers Ids ewn bcsl interest; (3) a reasonable time is allowed Ibr exposure in Ibc opcu
market; (4) paymcm is made in ~s of cash in U.S. drillers or in terms of financial arrangements comparable Ihcreto; and (5) tbe
price represents thc normal considc~n lbr the pru~y sold anafl~cted by special or creative liuancing ur sales concessions*
granlcd by mD'one associated wi~ t~ ~lc.
* Adjustnrcn s o thc comparablcs musl bc made Ibr special or creative tinancing or sales concessions. No adjustments are
necessary for those costs which are nmmally paid by sellers as a result of tradition or law in the market area; these costs are
readily identiiiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments
· can be made to the comparable properly by comparisons to llnancing terms olt~:red by a third party institutional lender that is
not already involved in the property of transaction. Any adjustment should not be calculated on a mechanical dollar cost ef
the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to thc financin~
tlr concessians based on the appraiser's judgement. -
STATEMENTOF UMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT A N D LIMITING CONDITIONS: Thc appraiser's certification that appears itl the appraisal report is subject to
tile Ibllo~ling conditions:
I. Thc appraiser '.','ill not be responsible lbr matters of legal nature that at'fi:ct either thc property being appraised or tile title to it.
Thc appraiser assumes that thc lille is ~'od and marketable and, Iherelbre, will net render any epinions al)out Ibc lille. '1 hc
property is appraised on thc basis el'it ~ing under responsible t)wncrship.
2. Thc appraiser has provided a~et~ in thc appraisal report to show approximate dimensions orthe improvements and the
sketch is included only to assist ~e r~r of thc rcpo~ in visualizing thc propc~y and undcrs~nding thc appraiser's determination
of ils size.
3. The appraiser has examined th~ available flood maps that are provided by the Federal Emergency Management Agency (or other
data sources) and has noted in thc appraisal report v,'hcther thc sut!iect site is located in an identified Special Flood I lazard Area.
Because thc appraiser is not a surveyor, he or she makes no guarantee, express or implied, regardiug Ibc determination.
4. The appraiser will not give teslimony 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 hefurchand.
5. Thc appraiser has estimated th~ value of thc land in thc cost approach at its highest and best usc and thc improvcmcnls at their
contributory value. These scparale valuations of thc land and improvements must not be used in coniunction w t 1 all), olher
appraisal and arc invalid ii'they ate so usc&
6. Thc appraiser has noted in the appraisal report any adverse condit ons (such as, needed repairs, depreciation, thc presence of
bazardous wastes, toxic substances, cW..I observed during thc inspection of thc subject properly or that he or sile became alvare
el'during thc normal research involw.nl in pcrlbrming thc appraisal. Unless otherwise stated in thc appraisal report, Ibc appraiser
has no knowledge of any hidden or unal~parcnt conditions of the property or adverse environmental conditions (including the
prcscnsc of hazardous waste, toxic su 'bslances, etc.) that would make the property more or less valuable, and has assumed that
there arc no such conditions and makes ap guarantees or warranties, express or implied, regarding the condilion of thc property.
Thc appraiser will not bc responsible li~' an)' such conditions that do exist or lbr any engineering or testing that might bc
required to discover whether such condilions exist. Because thc appraiser is not an expert in thc licld of environmental hazards,
thc appraisal report must not be considered as an environmental assessment el'the property.
7. The appraiser obtained the information, estimates, and opiniens that were expressed in the appraisal report from sources that he
or sbt considers It) he reliable and belie'yes them lo he true and correct. Thc appraiser does not assume responsibility lbr thc
accuracy el such items that were furnisla:d by other panics.
8. Thc appraiser ',viii riel disclose Ibc cements of thc appraisal report except as provided Ibr in the [Jnilbrm Standards of
I'rol'cssional Appraisal Practice.
9. Thc appraiser has based his or her apl~-aisal report and valuation conclusion lbr an appraisal that is sul~ject to sat slhctory
completion, repairs, or alterations cm the ~sumption that completion o1' thc in]provcmcnls will be perlbrmcd in a w(~rkmanlike
nlauncr.
I 0. The appraiser must provide his or her prior written consent belbre thc lender/client specified in the appraisal report can
distribute Ibc appraisal report (including conclusions abuut the property value, the appruiscr's identity and prol~ssienal
designations, and rctbrcnces to any profe.'.'.'.'.'.'.'.'.'~aional appraisal orguni;~ations or tile firm with which the appraiser is associalcd) to
anyc, ue other Ihan Ibc borrower; the mmlgagce tlr its successors and assigns; the mortgage insurer; consultants; prol'essienal
appraisal organizations; any state or Ibderally approved financial institution; or any department agency, or instrumentality of the
Uuilcd Slates or any state ur thc Dislricl of Columbia; except that the lender/cliem may distribute the property description section
cf Ibc report only to data collection or n::porling service(s) without having to obtain the appraiser's prior written consent. The
appraiser's wrilten censent and approval must also be obtained bclbre the appraisal can be conveyed by anyone to Ibc public
Ihrougb advertising, public relations, news, sales, or other media.
SUBJECT PHOTOGRAPH ADDENDUM
lh~rmwcr / ('licnt NA
'ropcrty Addrcss~,Od Winding Ilill Road '
'iiy Mcchanicsburg Coum,/ Cumberl~md Nlalc PA
.cmlcr Gates, Ilalbruncr & Ilntch
2A l, I I
Tip ('{~{Ic 171)5~
I:R( )NI' ( 11:
SUII,II!CT I'R(U'I!RTY
RI!AR ()F
S UILli~C'{' I'R( )I'I!RTY
Day {)m For ts hr ~/indo~s 19q5- I gOlMil/l'-I),\;'l
5, I Rt]Ii'I SCI NI.
COMPARABLES PHOTOGRAPH ADDENDUM
2AIAI62A
Borrower/Client N.,\
Property Address'~\'l-'~[ \Vinding I lill Road
City Mcch~micsburg
I,cnder (iatcs= [ I,flhruncr & I latch
CoLmty Cumberland State PA
Zip Code
17055
(;OMPARABI.E SALE ~ I
398 Alison Average
Mcchanicsburg
Date of Sale: 5/28/02
Sale Price : 178.000
Sq FI : 1,890
$/Sq Fl : 94.18
COMPAR.[III.E SAI,E # l
IO22 Crystal ¢'rcck Circle
Mcchanicsburg
Date ot'Sale 3/15/02
Sale Price 157,000
Sq. I:t 1,840
$/Sq Fl. 85.33
('()MIU~RAIII .E .%'t 1.1'; # 3
231 Rcc.',cr Road
Camp I lill
[)ale of Sale : 2/11/O2
Sale I'ncc : 168,0OO
Sq. Ft. ; 2,300
$ / Sq I:t. : 73.1)4
ARMAN F. I,EO~ APPRAISER
02A1.1162
I
APPRAISAL OF
A SINGLE FAMILY RESIDENCE
L O C A T I O N : I I I Winding Hill Road
Mechanicsburg
PA
17055
CLIENT
: Gates, Halbruner & Hatch
1013 Mumma Road, Lemoyne, PA 17043
AS OF DATE : July 27, 2002
APPRAISER :ArmanF. Leo, CREA
Day One Forms for Windows, 1995 I 800-GET-DAYI
ARMAN F. LEO, APPRAISER
Gates, I lalbruner & Hatch
1013 Mumma Road, Lemoyne, PA 17043
In accordance with your request, I have personally
inspected and appraised the property located at:
I I I Winding Hill Road
Mechanicsburg PA 17055
The purpose of the appraisal was to estimate the market
value ot the property, as improved, in unencumbered fee
simple title of ownership.
The subject property consists of:
7 Rooms
3 ----Be~drooms
The Ranch style residence contains 2,476 square feet of
Gross Living Area.
It is my opinion that the estimated market value of the
property as of Ju~y 27, 2002 is $ 175,000
The above information has been automatically extracted
from the appraisal and inserted in this cover page.
Respectfully submitted,
Day One Fon~s for VV~ndowl, 1997 1 800-GET-DAy1
Property Description UNIFORM RESIDENTIAL APPRAISAL REPORT
I"~ Property Address I 1 Winding Hill Road ~ File No. 02AL I 162
~.~ ......................... c, ity Mcchanicsburg State PA
~ egalDescription Attached ..................... Zip Code 17055
......................... - ........... County C;m~e~iand '
~ ~-~e~b~r~l-N--°='0~25-~ -- C ..... T_a__x ye_ar_2__0_O.~R_~. Ta_x_es~$_ __ 0.00j~oecial Assessments ~ -None
I~. ~ --~_~urren[ owner ~s[arc Occu_an,¥ I ]A-- r~-v ~
Property d his a raised Fe --- : ..... ~,~_~ L._l~ner ~L~.jTenant Vaca-.
~ . Map Reference42-10-0646 Census Tract O1 600
~ ........... '- -~'~'-"n-cL~--Ha-~-"___ _~ddress 1013 Mumma Road, Lemoync, PA 17043
JIAoora*ser Arman F. Leo, CREA aSR AdcCP-ess -JO8 East Penn ~)ri-ve, E'r~;)}~, b-.~ i~01i
up ~ I uver/~ yo I ~ 125-75 ~ I l Under 25% I ~¢upancy ~ $~0~ One famd
Gro~rate ~Rapid ~Stabl- ~' I~_ , , , ~ ] 'Y _ !~0~ [~Notlikely
~ ~ ~ ~o~ow I ~lOwner I 125 Low 2012~ family 0 ~ n pro,ss
Pro~yvalueIXJlncreasing ] ~Stable ~ ~Dedining J~Tenant ] '- ~ Hgh ~ Mulfi-famil .....
Ma~efin~time[ ~Under3m~. ~3~mos. ~r6~'J~Va~,~i'~tv;;~%~o~- i~r~0q-~LO~%jc°m~rcia _
Note: Race and the racial coiiiposiflon of~e noighbo~o~ are not appraisal factom.
Neigh~o~ boundaries and characteristic: S~c[ is Iocat~ about I mile from Route 114 ~d W. Windiqi~[lill Road west.
F~ ~at aff~ ~e ma~etabil~ of the pmpe~ in ~e ~h~ (pmximi~ to emplo~ent and am~ employm~iaS~-dP~eal to manet.
~e neiRhborhood is comprised of pr~e~i~ mflectJn~ simil~ in qual ~ mainten~ce, des~ and a~Eeal. Availabilit~is neighborhood of
mo~t public settees combined with average ~ce~ to employment, sh~~ools gives a similar appeal to the market on other ncarb~
Mar~et ceed,fJons ,n the subjecl neighborhood (including support ~ the above conclusions related to the trend'0f Pr~rty values 'demand/supply and marketing time
- - such as data co competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Overall m~'_k~c!.conditions are considerc_d s_t~a~intercst rates are a~vai!_~_ble aL6% to 8% fixed £or 30 .~ears. Marketing
................ t_i_m_e and dem~a
s~up~ ~y__~_~_l[ne tbr similar areas in this market. New constru~ on activity_ is moderate No adverse marketability_neighborhood faC[~rs (~, ' -
evident. -
.......................... ere
Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owner's Association (HOA)? ~
Approximate total number of units in the subject project N/A Approximate total number of units for sale in the subject project NJA~
Describe common elements and recreational facilities: N~ -
Dimensions 423.6 x 442'
· Topography Roil-up front to rear
S,tearaa ]_~72_3_! _S.F_.. . ~2-9~C_ . _ComerLot [~Yes ~-~No ISize 87,23i SF ' -
Specafic zomng class~ficatron and descnphon Resident al ~ Shape Irregular
Zoning compliance [] Legal~Legal nonconfo~li~-~-r~r~lfathered ~iile~-~--~ N~zo~n~- Draina.
,H~Jhast & best use as improved: I X~esent use ~ Other use ,exraain, g I .... ge ~ppea~rs~A?9.uate____
Utilities Public Other In~,,., ..... ] r- ~ . v,=~, V~ry~_o_gu _
=, ........ ~ I ..... ,.~ ,,,,muvements Type P?~blic PflvalefLandscap nD ^vera e for
~ ......... Y I..GJ ~lStreet _As_pha_l! .... {¥{ F-q JDriveway surface Asphalt-- --
.G. as ~--~{Curb/gutler None ~'~ ~--~ J~--arente · -' J
~ water ~ i Well /S ~ .- .-7--~--- ~ ~ I' PP asemems None Apparent
!Sanitary sewer ~ S~p~]~'*~lo.-ae~, ,a~K~..~,o~ne_~ j.~ L~ FEMA Special Flood Hazard A-re~ ' - [~,e~~ X-~No
Storm--er ~ ~l;n-e lit[;'''gn's ~nn-cc~---__ ] { I {{FEMAZone _C_ __Map Oate 2-l$-g-~-
! FEMA Ma
Com.eflts, .... -ntadverseease,~e.L~ ~,n,'rn~,-, ........... ~'~ ~ h p NO. 420372 0010C
· · r-- ........... ~, =peoa ~essmems, s,ae areas, dlegal or legal no,~vo, du~mi.g zoning ose, etc.):
N~o adverse easeme._nt_s' encgrachments or spec jul assessme~nts~not~ a~t _time of i_nspection
GENERAL DESCRIPTION IEXTERIOR DESCRIPTION {FOUNDATION JBASEMENT INSULATION
.N.o. o!_Ur,m _~ J{Foundation Con~te Is,au Pania,
No. m utodes I JExtedor Walls Vinyl [Crawl Space None IArea Sq. Ft. __ 1,314[Roof :--
~ype(DetJA.4 ~ lRoofSu~aca ~gles IBasement Fuji-- 1% Finished ~Ce,~ng -- ~
Design (Style) ~,a~'ch -JGutters & Dwnspts. A--~-un~inum -Isump Pump ~e JCeiling Unfin -{Walls -- ~
Ex~stm~Propos~ ~;~ -IW~ndowType ~ --IDampness ~o~Z~oted IWa,s ~lock ---- ~--
]F,oor onciF'°°r I
Ags (Yrs.~ :~;; --IStorm~Screens ~ --ISemement ~;nn~ho~d .one ---- ~-
~_~e^~.ff~.) 2~?rs lU~n~ta~ured.o~N-~--- -hn~estat~on ~_~o~.~.~ y~
~pOMS. I Foyer_ ~ ~ivin~ I Dining~ ~chen I Den IF~ilvRm IRec ~'~ -~Unknown ~X
~1~. l- - I { I~1 .... I ........... ]~moms J Lau~E { Other
- ' ~,476
-- Finished a~a above fade ~{ns: ?Room
iNTERIOR Mate~al~C~dilion H~TING
Floors ~{llW/Avcr Type B~ad
Walls ~/D~ Fuel Oilier
T~Finish Woo~Aver ,~o~iti~ Av~
Bath FI~r ~yl/Aver GOOLING
Bath Wainscot F}bcrgl~s~Avcr Gentral NA
Doom ~°9~vc~_ __ Other
C~ndilion
tures (special enemy e~cient items, etc.): 5 ceiling fins
Condition of the improvements, dep~clafion (p~si~l, ~n~ional and external), repaim n~d~, quallly of ~nstm~ion, ~m~elino/addiflons, etc.
!*___ 3Bedroom s ' 1.5Bath s ' 2 476S uare Feet of Gross Livin Area
{.one
?age/Oven J.~ {Stairs
J-'-J I~~~ JGarage O, of ~rs
~?~sal ~ JOropStair
~.~..~ ~ {Sca,,,,
?"~"~ ~ {.,oo~
._~ ~icrowave ~ I Hea,ed
~ Yes
i-T~hys~iical or £unct onal obsolescence. The su~is in good condition on the outside as well as thc inside.
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site
or in the immediate vicinity of the subject property: Appraiser s nm an expert in thc idcnfificalio
environm~rmlal ~;ondilions ,";ce I:nv roam-n , r~ -ol.~;.. ~ '- '.) d~d ........... °n ~f~P~E~U~!~CCS or dclrimcntal
~aamMacF~70 6-93 " ' ,. .......... vX,..Lvr(~np~lc~j~lalgmenlofl,imilinuCond{l.ons ............
AHMAN FLEO' o .......... ~{OF2 F .... MaeFOr~lO04
' , APPRAISER
Valuation Section
ESTIMATED SITE VALUE ............... : $ 20,ti00
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:
Dwelling 2,47hSq Fl @ 44.2.1 =$ 10'L513.4}1
Bsmt 1,314 Sq. Ft. @ 12.20: 16,109.(~4
1 lousehold/Pool = 25,00tt
Garage/Carpofl Sq. Ft @ 0.00 = 0
Total Estimated Cost New ........ = $ 150,623.12 Physmal Functional External
Less
Depreciation 7.5131 OI t) = $ 7,513
Depreciated Value of Improvements ................ = $ 143, I 10.12,
"As-is" Value of Site Improvements ................. = $ 10.00£
COST APPROAC 173.110.12
ITEM SUBJECT --
Address I I I Winding I lill Road
lHcchanicsburg
Proximity t9 Subject
Sales Price
Price/Gross Ltv. Area
' Data and/or
Verification Source
VALUE ADJUSTMENTS
Sales or Financing
Concessions
Date of Sale/rime
Location
Leasehold/Fee Simple
Sile
; Vie~w
i Design and Appea
; Quahly of Conslmc on
! Age
Condition
Above Grade
Room Count
Gross Living Area
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Item
Garage/Carpo~l
Porch, Patio, Deck,
Fireplace(s), etc.
Fence, Pool, etc.
Net Adj. (total)
Adjusted Sales Price
of Comparable
$ NA
$ O.0tJ
hlspcclion
DESCRIPTION
NA
Suburban
Fcc Simple
187,231 SF
Ranch/Aver
&verago
40 ,','rs
I.'\vcraee
/ 71 31
2,476Sq. Ft.
Full
I Jntin
~ ~ cragc
)fl'St Park
*ado
Yes/In (~r
COMPARABLE NO. 1
398 Alison Average
Mcchanicsburg
1.5 Miles
$ 94.18[
('PMI, Settled, S'I'I'II
DESCRIPTION
146 DOM
Cony
5128102
Suburban
Fcc Simple
0.24 AC
Avcrag~ .
Ranch/Aver
Average
31 yrs
Averg. ge
Total JBdrmsI Baths
71 3I
1,8')ttSq. Ft.
Full
Rcc Rm/ltalh
Average
I*:k~ Rad/('A
A~.cragc
2/('ar hit
Palio
Fireplace
N~lm/Nonc
2,2 % Net
178,00{I
4,000
File No. 02ALI 162
Comments on Cost Approach (such as, source of cost est:~a:~
sac value, square foot calculation and for HUD. VA ancl
the estimated mmaimng economic life of the property)
Sqc attached skct~:h.
Cost figures frnm Marshall & Swift
Rcsidcnlial Cosl I landbook and
Est. remaining ecomunic li1~--50
COMPARABLE NO 2 COMPARABLE NO 3
1022 Crystal Creek Circle
Mechanicsburg
5 Miles
] $ 157,0f)I
$ 85.331
231 Rouser Road
Camp Ilill
4Miles
$ 73.041
('PMI, Scltlcd, S'1'1.211 £'I'MI, Nelllcd~ STEII
DESCRIPTION DESCRIPTION
71 II(tM 181)()M
Cony Cnnv
3/15/02 2/I 1/02
Suburban Suburban
Fcc Simple Fcc Simple
0.44 AC 0.42 AC
Average Average
Ranch/Aver Ranch/Aver
Avurage Average
16 yrs 35 yrs
Baths
2.5
1,84osq Ft. 2,300Sq. Ft.
I:ull Full
I Jnlin Ret Rm
Average Average
Elco I IIV( ;A ()il I IA/CA
Average Average
2/Car Alt ' 2/Car Att
Patio
Fireplace 3 Fireplaces
Nonu/Nonc None/Nnuo
J x~+ ~._ ._ ~+ Lx_,- [~
5.29 % Net -0.95 % Net
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): All market dale is similar in slylu ant
construe!ion lo !he subject property. Comparable sales arc thc n'iost recent, similar, nearest sales available. All comparahles have bccn closud
and smiled on thc abo,. e dates. '
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO 3
Date, Price, and Dale
Source, for prio~ sales /A N/A N/A
within year of appraisal N/A
Analysis of any current agreement of sale, optioo, or listing of the subject property and analysis of any prior sales of subject and comparables
within one year of the date of appraisal: No prim' sales or listing liar subject wilhin one year el'all raisal
INDICATED VALUE BY SALES coMPARIsON ApPRoACH $ 175,01
Rent $ N/A /Mo. x Gross Rent Multiplier N/A = $ N/A
This appraisal is made X "as is' ~sublecl Io mi)am, allemlions, inspections or condilions listed below i sub ecl lo completion per plans and s ecification
Conditions of Appraisal: ' · ..... " * · - ·
Sec attached Spccml ColldltlOnS Addendum and State~ncnt uf I.imiting Conditions. P s
Final Reconciliation: Thc Comparison Approach~ rein forced by thc Cost Approach, prov des a good ind cat on of Market Va ua. Chose $175.00{)
Ibr value.
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, contingent
and limiling condJfJons, and market value definition that a'e sated in the attached Freddie Mac Form 439/Fannie Mae Focm 1004B (Revised 6/93 )
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF July 27, 2002
WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 175,fi00
APPRAISER: '-- '~ '
Signature ~: ./..f.~ -.,. t t: ~....5P2~ ~/~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Signature
Name Arman F. I.co, CREA Did i Did Not
Name Inspect Property
Date Report Signed '~-"4/~ ~'~ Date Report Signed
State Certification # RL-OO21)51-1. Stale PA Slate Certification # State
257-,\ State I'..\ Or State Licen§~ ~ Stat~
SKETCH, MAP AND PItOTOGRAPH ADDENDUM
Borrow~r/CliOnt
Pro~rtv Addr~s.s.
Estate Frank .u_~ge!
111 W. Windinc~ Hill Road
City. Mechanicsbur~, CountvCumberland State p~. Zlo Cod~ ] 7f]55 ,
Gates, Haldruner & Hartch
LAYOUT SKETCH
73'
18'
51'
46
LOCATION MAP (*SUBJECT PROPERTy)·
~Goodville C..__~--~-~--~ ~
REGIONAL MAP
Mills
&Haldeman S[,i~':
eAcker
eCamonville
eMckee
Bloomfield
4,Dellville ~
Shermans
State Game Lands No '
&State Game Lands No 246
CraCk -,
"., - Boiling SpH-~
Mt Holly Springs
* Aspera
intown
AI'I~RAISAL ADDENDUM SPECIAL CONDITIONS
PROPERTYADDRHSS . . 121 W.. Windin.q Hill Road, Mechanicsburg, 17055
Thb tbliowh~g ohookod limits m~ ~pc.Jflo omldltions dar wore IdmltJflod by IId~ appralial dnd.l~ lite Jnsp~otlnn bl'tha uuhJoooot property, tita
comparable sates tod their c)ofahborho~ mid loc~danL Unless otherwise not~ tho conditions that apply to tiro subJooool property on lite oomparabtcs
used DO NOT alToot die marled value of tbs ~t#ro morketablltty of tho subJe~ property bolc)g appraised.
__1.) Tho suhJeot If Joooatod in a t,und area and la bas titan :25% built-up. 'Tide condition Jo typical lutd common fur tho mean and DOES NO']'
diSSect tho mslkot value or f.*.tut,oo marketability oft]lO subJoont. ,
...._2,) Commercial uses are Inested within tho subJest*s flalgitborhood. Those uses m'o typical of similar nolghhm'hoods and DOES
NOT affect file maker value or flituro mar,ke(nbll~y att' tho subject,
_.._3.) Induslrfal uses are luea~d wttidn tho subject's nei§hborhood. Tho prose, nco of Industrial uses Is typical of'tho c)eighborhond and DOES NOT
affect the market value or fatttrn m~koiaIJIlily (]film sobJcot propotty, ,.
~4,) Yacmfl'and undaveloped Ifud usus ere Ioooatmi whbfn the subject's noolghborhood. Tltnse uses are typical for tho nelgiiborhood and DO NOT
nfToct tim merkot value ur I~lure ma~kolobJlfty oflJle sub Jest properly.
_$.) Tho i~adominanl value In tho nofohbodmod is leds than tho market value*of' tho mthJoct property, This If duce to tho veery wldo range of vs~u
n fl..~,r, rllc~ Itt tim 0rea ~md stfperJur q~lnlJty of tho m*.bJoct fst,opcrty. This coudJtfon DOES I'IOT affooct ilo tlZCtkct Yello of'Ilia silbJooot or Its
mark0inb lily
~§,~ Th5 ~bJool property If located In ,n F. L A. idantlflsd flood anne. This condition DOES NOT affect market yaJua or futura tnatkotabitlty et'
tho subject whan flood Jlmuance coverage Is requised,
.~7.) Dampflnss Is noted lo tho bulemant of tho anbJaeL This condition il considoomd lypJcal Jn dwellhtp nflhif style and DOES NOT ceil'cot
market value or futore madtclnl01iJly of' tho pubJesL Staoding or running water wits not present on tho baserncat floor.
visual Inspaotlon to bo Io w~khtg order. No wlu~es' .ere hnplfod iii this statement,
._.._~.) Tlla aicolrlesJ ayslom wns lent uemloet~d during Inspaotlen,
~10.) The water nsrvlca wm not.connected dm'lng fnspocifon.
~1 I.) Tho boosting ayslom, was shut dowft during hmpeeflon.
~l 2.) flee basement floor Jan dirt floor. This oondilinn Is eomlnffo and typical For tho mcan and DOES NO']' offset tho market yutuo [Jr ~turo
qierkelabltity of tho slthJecC Tho presanooe oft dMfloor DOES NOT pose a health or assetS, hard.
· __13.) 'tliu subject property dm~ ounlaflt f~oolluc)d obsoieseenuu as nutood lit Ih0 report. This eoftdEImf is oomisld~ted typical Slid ooniluos$ i~r USO
stoa mid this style dwollloI and DOES NOT. affoot Om market value or lbturo mat,kelablllty of'tho s, ubJoot I)roporly,
~i4.) Tho land value oxaceds'40~4 of tho Iotai valor dtta lo high demand fur vacant Iopd in this nelahboritond, Tida nondltlon la annsidered
ooommon mid typteal f'or the neighborhood and DO~S NOT affect Ihs market value ocr future matkelnb[llty of'tiro an~aoot property.
__J.g.) Tho land vidtto oJmesds q0e~ of tho total vale. ThIs Is duo to tile largo iJza of'tho stlo. Tills condition If considered lo bo typical and
cerumen and DOES NOT affect tho markat value or f~tu~e marketability of tho subject property, . .
~J 6.) Individual adJuslmoonts wore rooqllfred thtt ean~d 10~i. Thesa adJustmanls were roquit,ed duo tn th0 ]nook of moro similar oonmpnrablos in tho
subJo0t's market neJultbodmod. All tbt,oo compambles ere enoosld~:rod tho boat a~atlablo. · ,
'_.__17.) Tho tote] edJualmmfl exeoed I ~%. Tills is dm .t0. the laook of's mrs simllM/anmparab os Itt tho snbJaoot's market area.
__18.) Cue or moro of tim comparsblof ars olde~ tiaa slx (6) tannthL Althoough those arm comparable propofllos in tho subject's &ran nonce have
sold roocontty, tharaforo, shies itl anooss of six (6) montlis old had to bO used sit fllroo comparable-, used were tho best %vallablo.
9.) One or moro of tho eomparabl~ used f~/oro Jem~....ed moro titan:
( ) Cue milo for ruben·Inmdfons, ( )Throoo mess in* 'uburban Incstinns; ( ) five milos fur rural Iouetfons floor tho subject. Tiaa oomparahto,
were sefo~tnd after a thoruegk search of tbs area, by st6 lo.ted flt lo I eJghborhoood similar lc) tit. subject's arid are ooo~sidored to bo dm best
cumpnrablcs avallabloo.
.__~0.) Rooflog cerllflcaltmlissuSSested.
___21.) PlumbioB oerttfl~3atluc) ia suagnatod.
._~22.) Electdcat t,~rtiflcatlonMsoguestood.
..~Z3.) lteatinS corllflcslion If suBgosted.
~24.) Flood Ilazard Jttsoran~oif sUsg~ted.
__2I) Seller il paying lmt,t orsll of buy~s Glorias anm. Tills DOES NOT affect tho market value or futura marketability oflho subject property,
~,26,) 'rhoore ara nn ~pccJai Gmdltlons or other roqubsmcnts that would affoooot market value or ~iuro marknia~fllty In this Apprnifal Rupert,
.___~27.) Tho poorenc)al properly InetudQd In tho nslo ofl~ subJect ssa not Included hi tho market Ynluo of' tho subJooot pr(~psrty.
Residential
~L/28.) The __ zonlnI DOES NOT sfTcct ihs p. roecnt or fllturo lntukolabfJJt~, of tho subJ~L
' Y29,) This apl)raiseS was proposed In ooompll .anne v/MIRegulation R-4 lC.
~__3().) lu title appraba[ ~olsummnt, Ilo oxblanes ofpmlentla: hazardous mote*tala or toxic suboinnoes used in ooc)struolton or malnteamneo cfi
pt'operiF, such ns gases f'mmd In tho envlronman, t, ~mmaldehydo Insulation, radon.fasts, tuelo wnsla, eta. shieS! may or may not bo present o*l lbo
property, tens not been cenaldmed, Tiro appralesr If mot quelJfled to detail senti sobstances we oran tho orient to) rolsin an enport roprdtn& those
Dat~ Ais~eifer
APPRAISER CERTIFICATION
File #: 02ALI 162
APPRA ISER'S CERTIFICATION: The Appraiser certifies and agrees that
I. I have researched the subject market area and have selected a minimum oflhroe recent sales of properties most similar and
proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when
.appropr!ate to reflect the market reaction to those items of significant variation. Ifa significant item in a comparable property
~s superior to, or more l~vorable than, the subject property, 1 have made a negative adjustment to reduce the adjusted sales price
ot'the comparable and, ifa significant item in a comparable property is inferior to, or less favorable than, the subject property,
1 have made a positive adjustment to increase the adjusted sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate ofmarket value in
the appraisal report. I have not knowingly witheld any significant information from the appraisal report and I believe, to the
best.of my knowledge, that all statements and information in the appraisal report are true and correct.
3. I stated in the appraisal report only my personal, unbiased, and professional analysis, opinions, and conclusions, which are
subject only to the contingent and limiting specified in this form.
4. I have no present or prospective interest in the property that is the subject of this report, and i have no present or
prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or
completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap,
familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners
or occupants ortho proporties in the vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related
part~., the amount of the value estimate, the attainment of a specific result, or the occurence of a subsequent event in order to
recewe my compensation and/or employment for performing the appraisal, i did not base the appraisal report on a requested
minimum valuation, a specific valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by Ihe Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this
appraisal, with the exception of the departure provision ofthose Standards, which does not apply. ! acknowledge that an estimate
of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed
is consislcnt with the marketing time noted in thc neighborhood section of this report, unless I have otherwise stated in the
reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as
.comparables in the appraisal report. 1 further certify that i have noted any apparent or known adverse conditions in the subject
~mprovements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and
have made ac!iustments for these adverse conditions in my analysis of the pro..p.eny value to the extent that I had market evidence
to support them. I have also commented about the effect of the adverse contht)ons on the marketability of the subject property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I
relied on significant professional assistance from any individual or individual(s) in the performance of the appraisal or the
preparation of the appraisal report, i have named such individual(s) and disclosed the specific tasks performed by them in the
reconciliation section ofthis appraisal report. I certify that any individual so named is qualified to perform the tasks. I have
not authorized anyone to make change to any item in the report; therefore, iran anauthorized change is made to the appraisal
report, 1 will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: Ifa supervisory appraiser signed the appra sat report, he or she
certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report,
agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through
7 above, and am taking full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED:
I I I Winding Hill Road
Mechaniesburg
APPRAISER:
Name: Arman F. Len, CREA
Date Signed: c~//~ ~ ~
PA
State Certification #: RL-O0205 I-L --
or State License #: RS_:O95257-A
Expiration Date of Cenification or License:
__State: PA
State:
i 7055
SUPERVISORY APPRAISER (only ifrequired):
Signature:
Name:
Date Signed:
State Certification-#: ..............
State:
or State License #: State: --
[!~oDiration Date of Certification or License:
id [] Did Not Inspect property
6-93
Page 2 of 2
D~y One Forms for Windows. 1997 I ~00.'GET-DAYI
Day One Forms for Windows, 199~. I 800-GET.DAYI
~,EAR OF
SUBJECT PROPERTY
STR EI..'T SCENE
COMPARABLES PHOTOGRAPH ADDENDUM
02AI. 1162
Propcrt.~ Address I I I Winding Ilill Road
Ci~) Mcchanicshurg _ _ Counly Cumberland
Lender Gales. J latbruncr & Ilatch ....
Stale PA
Zip ('<)de 17055
('(')MPAILtBI.E S.AI,E ~ I
3<)8 Alison Average
Mcchanicsburg
i
(7¢)NII'AI{ABI.E SAI.E it 2
1022 Cryslal Crock Circle
Mcchanicsburg
DateorSalc : 3/15/02
Sale Price : 157,000
Sq Fl, : 1,840
S/Sq. Fl. : 85.33
ir-
COMPAIIAI}I.E SAI,E it 3
231 Rccscr Road
Camp Ilill
I)atcofSalc : 2/11/02
Sale Price : 168,000
S¢.l I:t : 2.300
$ / St[ J:l. : 73.04
DEED and APPRAISAL
for ONE HOUSE LOCATED at:
121 West Winding Hill Road
Mechanicsburg, PA 17055
Tax Parcel No.
Made the
(2001 ).
in the year two thousand and one
.~etween JOANNE M. SCHELL, single woman, of Upper Allen
ownship, Cumberland County, Pennsylvania, Grantor,
and
FRANK M. MAGEL and REGINA M. MAGEL, his wife, of 111
West Winding Hill Road, Mechanicshurg, Cumberland County,
Pennsylvania, as Trustees, in Trust, for the MAGEL FAMILY
REVOCABLE TRUST, Grantees.
WITNESSETH, that in consideration of the sum of ONE HUNDRED SEVENTY-TWO
THOUSAND and No/! 00 ($172,000.00) DOLLARS in hand paid, the receipt whereof is hereby
acknowledged, the said Grantor does hereby grant and convey to the said Grantees, their heirs and
assigns:
ALL THAT CERTAIN lot or tract of land situate in l ~pper Allen
Township, Cumberland County, Commonwealth of Pennsylvania, more particularly
bounded and described as ~tbllows, to wit:
BEGINNING a a P. K. Nail in the centerl/ne of West Winding Hill Road
at dividing line of land sow or formerly of William L. Sunday and Betty F. Sunday
and the subject premises;,
THENCE by the centerline of West Winding Hill Road North 76 degrees
30 minutes 00 seconds East 337.50 feet to a P. K. Nail; thence by line of land now
or formerly of Frank M. Magel and land now or formerly of Fred L. Glaize, Jr.,
South 08 degrees 35 miautes 33 seconds East 639.70 feet to an iron pm: thence by
line of land now or formerly of Fred I.,. Glaize, Jr., now or furmerly of Pennsylvania
Orchards, Inc., South 85 degrees 51 minutes 15 seconds West 297.{19 feet to an
iron pin; thence by land now or formerly of William L. Sunday and Betty F.
Sunday, North 12 degrees 29 miuutes 33 seconds West 589.16 feet to a P. K. Nail,
the place of BEGINNING.
CONTAINING 4.46 acres and having thereon erecmcl and 1-1/2 story frame dwelling
known and numbered as 121 West Winding Hill Road.
THE above-described pr~nises is described pursuant to a boundary survey performed ~y
ACT ONE Consultants, Inc., da~t May 12, 1995 and recorded May 26, 1995 in the Office of the
Recorder of Deeds in and for Cumberland County in Deed Book 122, Page 760.
BEING the same premises which Michael p. Sche{I and Joanne M. Scheil, by their dee. d
dated November 3, 1995 and reco~led December l, 1995 in the Office of the Recorder of Deeds in
and for Cumberland County, Pe~msylvania in Deed Book 132, Page 27, granted and conveyed unto
Ioanne M. Schell, the Grantor heroin.
AND the said Grantor will warrant specially the property hereby conveyed.
IN WITNESS WHEREOF, the said Grantor has hereunto set her hand and seal the day
and year first above written.
Signed, sealed and delivered
in the presence of:
~J,I[NNE M. SCHELE~'' ---
¢SEAL)
COMMONWEALTH OF PENNSYLVANIA :
: SS,
COUNTY OF CUMBERLAND :
aers~gnea officer, personally appe~ JOA~E ~ $CHELL, known to me, (or
satisfactorily proven) to be the person whose n~e is subscfib~ to ~c within ~men~ ~d
acknowl~ged that she e~cuted the same for the purposes ~erein contained.
IN WI~ESS WHEREOF, I hereunto set my hand ~d offici~ seal.
~Notaxy Public
CERTIFICATE OF RE~,e~I_DENCE
I HEREBY CERTIFY that the precise residence of the Grantees is:
j Attorney for Grantees
John S Ensminger Appraisals
APPRAISAL OF
Single Family Residence
LOCATED AT:
121 w. Winding Hill Rd
Mechanicsburg, PA 17055
FOR:
WFHMI CP REALTOR-CS0
100 SOUTH FIFTH STREET 10TH FLOOR
Minneapolis, MN 55401
BORROWER:
REGINA MAGEL
AS OF:
April 3, 2001
BY:
John S Ensminger
PA Certified Residential Real Estate Appraiser
415 Bemheisel Bridge
Summary Appraisal Report
5 a b. ~ u,v~..meo em Io merit basis which offers
Markel condiaons in the subject neighborhood rincludi~l~ -
, -¥ 3upporl lot the abo~'~ conclusions related ID the Irend of Foperty values, demand/supply, and marke[mg hrne
- such as data on compeblive properlies for Sale in Ihe neighborhood, des43iplion ct the prevalence of sales and financing concessions, etc.):
Project loll'marion for PUDs (If applicable).. Is the develuper/builder in conlrol of the Home Owners' Association IHOA)? ~
Approximate {(Xal number of units in the subject project '~--~.. Approximale total number ol' unds for sale in Ihe subject project
Dimensions Not
Site area 4.46 Acres ~
Specitic zoning classi/icalm~n and, Rural Residential ~- C~loer Lo[
Utilities Public Olher I ,.. -=- ~pears adequate
Good
Electricity [] Type ~ View --'~
Public PrivateJ Lmldsca~ ~_-~-~ ~
Gas Street A~halt ,-,'~ .~uuu
Saoilanj sewe~ Sidewalk None - ~l ~ / Apparel easements ~None a'pparen-'~"~-'--~
SUeetlights None []] [] / FEMAZone "C" ~..M_ap?ate02/15/~'~
__ L_J (--J / FEMA Special Flood Hazard ~
~ None ~ 42,0~37_2._0~10~C _~
;ommems (apparenl adverse easements, encroaC~pec~al assessments, shde areas, i ogal or legal nonconforming zoning, use, etc,}: See AUac~
GENERAL DESC~
UPTION FOUNDATION
No. of Units One fOUndation BASEMENT
Sl~ 30% Area Sq. FI. 728 INSULATION
No. Ct SIo~ies One Exlerim' Walls Brick Oa~ Space N/A Rool ~
Type (Del./All.) Roof Sudace % Finished
Ceiling Cncld
BaSement 70% Ceiling Walls Cncld.
Design (Style) Gu,ers & Dwnspts. Slap Pump None ~ Walls floor
Existing/Proposed Extel Window Type Doubh Dampness None
Age (Yrs.) 43 SIofm/Screens Yes Floor Nooo ~
12 Sememenl None Outs~eEn~y None u~,~,,~ ~
INTERIOR Male~ials/Condilion HEATING
Floo~s KITCHEN ~ ATTIC AMENITIES CAR STORAGE:
Walls - Type ~ Refrigerator None Fireplace(s) t 1 None []
Trim/Finish Fuel Oil Range/Oven Slairs Patio Rear ~ [] Garage
Disposal Drop Stair -- -- Iol cars
Bath Floor COOLING Deck __ -- [] Attached
Bath Wainscot Cerar Dishwasher ScutUe Porch
__ ~] Detached --
Doors Central ~Yes Fan/Hood Floor Fence__ But#-In 1
O~her None Mio'owave Heated Pool
Additional teatures (special energy etliciem items, etc.): water softener cedar closet in lower level 2 stora e sheds'. Carport 1
:ondilion of the improvements, depreciation (physical. [unclional, and exlernal), re~irs needed, quality of construclion remodeling/additions, elc.:
Adverse environme~lal cooditions (such as, but not limited Io, hazardous wastes, toxic substances, etc. J presenl in the improvements, on the slle. or in
immediate vicmity DJ' the subjecl properly: See Affached Addendum.
PAGE I OF 2
Summa~/Appraisal Report
V~luation Section UNIFORM RES_IDENTIAL APPRAISAL REPORT File N
~VALUE : $ 800o( ~
ESTIMATED REPRODUCTION COST.NEW OF IMPROVEMENTS
Dwelling _ 1 744 Sq. Ft. (..,~ $ 55.00 . $ 95 920 ~qe value, square IOOl calculation and lot HUD. VA and FmHA :
Bsmt. 728 Sq. Ft. @ $ 12.0-------~ , ~
estimated remaining economic file of lhe properlyJ:
F~/P,Patio,Appliances --
_ 4,00~
GarageJCaipat 272 Sq. Ft. @ $ 15.00 4,08~
Total Estimated Cost Ne'----'~ ~ =
O~ ~7 J Ex(ernal E~. Remaining Econ. LiTe:
Deprecial~ Value ol Im~o~ems ~ ' s 22 547
"As-is" Value
ITEM
~g Hill Rd 16 Gr~nway Dr
Mile
48
The cost approach estimates the replacement ~;ost-new c
~he lmprovements~ not the reproduct o,, cost. ~
~afld Swtft Valuation Service and local conlractors we,'~
_utifized for the cost fi~lures in the completion of the cos~'--'
_approach. The estimated site valu. is based on'local~a-,
Dr
NO. 2
'Ln
Data and/o~ ~
Sales or Financing
View
Above Grade
Room Count
Basemenl & F,fist~d
-1,500
:
Rsmnt ,
Room ~ 3,000 t
,,
Patio, Deck.
Adjured Sales Price
Comments on Sales Comparisee (including the
19.7%
-1,500
-500 : -500 '
None ' ! -5~,
22.9%
23.0%
to Ihe neighborhoed, elc. ):
~re
rather
Date. Price and Oat; E NO. 1
NO. 2
Source Io, pt~ sales
option, o~ lisan9 of Ihe subject prop~y and analysis ol any pti~ Sales d sulY~ect ~ cemparables ~hifl one ~a dL dale of apl~aisal:
~ ~r contract for $172,000. The COnlract was re uesled bul nol made available at the lima of this a raisal
The sub ect and cem s have not been transferred in the last ear other than as shown above. ·
~ I~,~C _(~IE APPROACH l i, 'able Er~imated Mar
specir~t~Ons.
Inspec~ Property
Estate Appraiser.
PAGE 2 OF 2
Slale
ITEM
Hill Rd
Summary Appraisal Report
UNIFORMRESIDENTii APPRAISAL REPORT
I £ NO 4
]NO 5
;5442
Data and/or
Sales of fiflanclng
Site
View
pection
ODd
$
.00
Above Grade
Room Count
Room
Baths
Porch. Patio, Deck,
Adjus(nd Sales Price
0.0% S
0.0%
Commenls on Safes Comparison (inclub~j the subject propenys compatibility ~o the neighborhood, elc, ): 0.0%
SAL S
Date, Price and Data IL£ NO 4 ! NO. 5
S~*~ce f~r Ix~ sales NO §
and analysis of any po~ sa~es d subject and comparat~es,,Mthin one yea*' of the date of apda.sa,
Borrower: REGINA MAGEL
Pro · Address: 121 W. Windin Hill Rd
Lender: WFHMI CP REALTOR.CS0
ADDENDUM
File No.: 0085~42
Casa No.:
State___.~. PA
ADDENDUM"A"
This repod has been electronically prepared and and transmitted to the client in compliance with USPAP
guidelines which includes verification of COmplete file transfer and delivery, digitally protected signature, and
adequate security measures in place to protect the data transmitted by the appraiser.
APPRAISAL DEVELOPMENT AND REPORTING PROCESS
This report is a Limited Appraisal - Summary Appraisal report as defined by the Appraisal Standards Board of
the Appraisal Foundation. The departure provision was utilized in not developing the income approach as
explained on page 2 of Ihe report. This report is intended to comply with the reporting requirements set forth
under section 2-2b of the Uniform Standards of Professional Appraisal Practice. This appraisal report presents
only summary discussions of the data, reasoning and analyses that were used in the appraisal process to
develop the appraisers opinion of the market value of the subject property. Supporting data is retained in the
appraisers workfile.
The client for which this report is intended is shown on page 1, on the Lender/Client line in the subject section.
The depth of the discussion contained in this report is specific to the needs of the client. The use of this report
by any other entity is prohibited.
The intended use of this report is to estimate the market value of the subject property for use in a mortgage
finance transaction only. This report is not intended for any other use.
GENERAL COMMENTS
The insulation is concealed and therefore the appraiser has relied on the homeowner for any information
concerning the presence or absence of insulating materials.
Data sources utilized in the preparation of this report include but are not limited to the following: Central Penn
Multi-List, Reel Estate Data Services, REDI, March Imaging, DeLorme maps, the County Courthouse and local
Real Estate Brokers and Companies.
This report has been prepared using digital technologies In order to produce a quality appraisal in a timely
manner. It includes digital mapping, signatures and photographs. The sales photographs, in some instances, are
retrieved from the appraisers data bank and may appear out of seaso
the comparables as they existed while on the m .......... n. In most cases these photo rah
photographs usually will give the underw~*~ ~ ~',~-=-~ or u.n.~er contract. It is this appraisers or` ,~ ~,..~_r~ show
,,,~,o =, ~muarer picture of the m
were sold, n~ perhaps 6 months after the new owner has made numerous up-grades to the property. This is to
co..parables as they existed when they
certify that any digital photographs used in this report have not been re-touched or modified in any way with the
exception of accepted lightening or darkening as may have been required for clarity.
SITE COMMENTS
The subject property is used as a single family dwelling and Is appraised as such. This is the highest and best use of the
subject property due lo Ihe zoning reslrictions. There are no apparent adverse easements, encroachments or other adverse
conditions thai would have any effect on the reported value. The title was not checked for liens or deed restrictions. Well
and septic are COmmon to the area. This is not deemed to have an adverse effect on the reported value.
Adverse Environmental Conditions
No apparent m~eme anvlror~len/al condlflofla were noted on the date of Inspection that would effect the subject or
surrounding properties. However it should be noted that the appraiser has no formal training relative lo the determination of
asbestos; lead based paint; radon gas; loxic waste or any other such environmental concems. It is suggested that it the
client has any concerns regarding to these matters, a professional should be contacted to to examine the property and
render an approl~le report.
~raiser:
Name: John S Ens '
Operating Income Statement
~vestmenl Pro erty and Two- lo Four-Famil Owner-Occu ied Pro erl 00855442
Property Address
121 W. Winding Hill Rd
Slreel Mechanicsburg PA
17055
~ Slate Z~ Code
General Inslructions:~s to be prepared jointly by the loan applicant, lhe appraiser, and lhe le""~er's underwriler The
applicanl musl complete the lollowing schedule indicating each unil's renlal slalus, lease expiralion dale, currenl renl, markel rent
and lhe res onsibdd lot ulilil ex enses. Renlal fi ures musl be based on the renl for an "unlnrnished" noil
Currenlly Explral~on Correnl Rem Market Rent
Renled Date Per Monlb Per Monlh Paid P2 ~
Ulilily Expense By Owner
Unil No. 1 Yes No X $ $ Eleclricily [~ By T~-:~ :
Unil No. 2 Yes ~ No $ $ Gas J~j ~:
Unil No. 3 Yes ~ No $ $-- ...........
Unil No. 4 Yes -- No ~ -- - ~ Fuel Oil ........ ~ ~-
Total -- -- -- $-- $ Fnel (Olher) ......
_______, - ....
The applicant should complete a of the income and expense projec mos and for existing properties provide aclual year-end Operalmq
statements for the pasl lwo years (for new properties the applicant's projected income and expenses must be provided). ]'his Operaun~
Income Stalemenl and previous operating statements Ihe applicant provides must then be sent lo the appraiser for rewew, com.
ment, and/or adjuslmenls oext to the applicant's ligures (e,g., Apphcant/Appra~ser 288/300). If Ihe appraiser is felained to comple,,e
the form instead ol the applicant, the lender must provide to the appraiser Ihe aforementioned operaling statements, mortgage msur~
ance premium, HOA dues. leasehold payments, subordinale financing, and/or any other relevant information as to lbo income and
expenses of Ihe subject property received from Ihe applicant I0 subslantiale the projeclions. The underwriter should carefully review
the applicant's/appraiser,s projections and the appraiser's Comments concerning Ihose projections. The underwriter should make any
final adjosllnen[5 Ihat are necessary to more accurately reflect any income or expense ilem5 thai appear unreasonable lot the markel
Income should be based on current renls, but should not exceed market rents. When there are no current rents because the properly
is ro osed. new, or Currenll vacant, market rents should be used.
Annual Income and Expense Projection for Next 12 months
Income (Do not ~pe~le income/or owne~-occupied unirs) AdWstmen s by
Gross Annual Rental (from un~ffs) ~o be ren~ed) By Applicant/Appraiser Lender's Ul~derwnler
Olher Income (~nClude~oufces) .................. $
Tolal 10,20~0 $
Less V~a'n~i~ni LO~ .............................. $ *
10,200 $
Efleclive Gross Income ................................... - 42.50 (5~)
................................. $ ( %1
10,15~ $ --
Expenses (0o not include expenses Ioz owner-occupied un~rs) --
Electricity.
Gas ...........................................
Fue, "i ....;;' i'::":i'i:;(~,~.' ................. i' -
Watefi~wer .........
Tlash Removal ................................ ~-.. --
Pesl Conlrol .......................................
Oilier Taxes or Licenses
75
Casual Labor .....................................
This .......................................... :. --
includes the costs for public area cleaning, snow removal, _
elc., even Ihough Ihe applicanl may not elecl to conlract Ior
such services.
Ifllerior Paint/Decorating
This includes the costs ol conlracl labor and malerial5 lhal are 100
required to maintain Ihe iflleriors ol Ihe living Urals. --
General Repairs/Mainlenance
This includes the costs of contract labor and materials that are 100 __
required to maintain Ihe public corridors, stairways, fools, --
mechanical systems, grounds, elc.
Management Expenses
These ....................................
are the CUSlomafy expenses thal a professional manage-
ment company would charge to manage tile properly.
Supplies
This i~dudes tfle'~0sts 'ol'iiems li'k'e I'i§~l' b"l'~s', ]ani'l~);i~]j 20
supplies, elc. --
Total Replacement Reserves. See Schedule on Pg. 2
M~ellaneous , ' ............ 290 __
Total Operating Expenses --
58___~5 $
Replacement Reserve Schedule 00855442
Adequate replacemenl reserves must be calculale regardless of whether actual reserves are provided for on the owner's operatm~
stalements or are cuslomary in the local markel. This represents the Iotal average yearly reserves. Generally, all equipmenl and com.
ponems that have a remaining lile of more than one year-such as refrigerators, sloves, clothes washers/dryers, trash cOmpaclors
furnaces, roofs, and carpeting, etc.-should be expensed on a replacement cost basis.
Equipment Replacement Remaining
Cost Lil'e
Stoves/Ranges .... @$ .. 500.0~0 ea.+ 2.___.~0 Yrs. x __
Refrigeralors ....... @$ -- __ ea.+ ~ Yrs. x __
Dishwashers ....... @$ _ ea.+ ~ Yrs. x _
A/C Unils .......... @$ _ ea., ~ Yrs. x
C. Washer/Dryers .... @$ ea.+ --
Yrs. x _
HWHealers @$ - 250,0~ ea,+ ~ Yrs, x __
Furnace(s) ' @$ 3,000.00 ea.+ 2'---~ Yrs. x
(Other) ........... @$- -- ~ __
_ ea.+ ~ Yrs. x
Roo~' .............. @$ 3 000.00 + 2____~5 Yrs. x One Bldg. =
Carpeting (Wall to Wall) Remaining
Lite
(Units) ~ Total Sq. Yds. @ L.,._._. Per Sq. Yd.., ~ Yrs.
(Public Areas) _ Total Sq. Yds. @ ~ Per Sq. Yd. + ~ Yrs.
Total Replacement Reserves. (Enter on Pg. 1)
Operating Income Reconciliation
$-- 10 158.00 . $
ect,ve gross n-c~ ....
By Applicant/
Appraiser
~1 Units =$ 25.0_0 $_
_ Units =$ $_
__ Units =$ $_
__ Units =$
__ Units :$
I Units=$ 25.00 $
--1 Units=$_ 120.00_ $
_ Units=t_ _ $_
$ 120.00
Lender
Adjustments
$
$--
$ 290.0~0 $_
9573.00 +12= $ 797.75
Opera ing Income - ~onlhly Operating Income--
$ 797.75 . $
=$ 797.75
Monlhly Operaling Income Monthly Housing Expenses Net Cash Flow
(Note: Monthly Housing Expense includes principal and interest on the mortgage, hazard Insurance premiums, real estate taxes, mort-
gage insurance premiums, HOA dimes, leasehold payments, and subordinate linancing paymeuts.)
Underwriter's ~nstructions 1or 2-4 Fami/y Owner-Occupied Properties
· Ii' Monlhly Operating Income is a positive number, enter as "Net Rental Income" in the 'Gross Monthly Income' section ot
Freddie Mac Form 651Fannie Mae Form 1003. If Monlhly Operating Income is a negative number, it must be included as a
liability/or qualification purposes.
· The borrower's monthly housing expense-to.income ratio must be calculated by comparing the total Monthly Housing Expense
for the subject property lo the borrower's slable monthly income.
Underwdler's instructions for 1-4 Family Investment P~operties
· It Net Cash Flow is a posilive number, enter as "Net Rental Income' in the "Gross Monthly Income" section of Freddie Mac
Form 65/Fannie Mae Form 1003. I( Net Cash Flow is a negative number, it must be included as a liability for qualification
purposes.
· The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total monthly housing expense
for the bo,ower's primary residence to the borrower's stable monthly income.
Appraiser's Commenls (,ncluding source~ /of ~lata and rabonale /or the projecpOns)
APPRAISER'S COMMENTS:
John S Ensmin,qer
Appraiser Name
Underwriter's Comments and Rationale Io~ Adjustments
~praiser Signature ~ '
0~4/03/200
Date
UNDERWRITER'S COMMENTS:
Underwriler Name
Underwriter Signature -- Date
Freddie Mac
Focm 998 Aug 88
John S Ensminger Appraisals
Fannie Mae
F~'m 216 Aug 88
SINGLE FAMILY COMPARABLE RENT SCHEDULE
This lorm is intended to provide Ihe apprmser with a tamifiar tarmat to estimale the market rent et Ihe subject property.
Adjus[menls should be made only/or ~[ems el s~gniflcant difference he[ween the cmnparables and [he subJect properly.
Rented: $
Utilities
o
, Rem
Data Source
Concessions
LocatioWView
Design and Appeal
Age/Condition
Room Count
DESCRIPTION
IESCRIPTION
i -2C :
:
:SCRIPTION
-lO
1.00:
sq n: 1.00: 5 1.00:
:
etc.) Room BU':
Room
Omer; : -25
Rent 10.0
S 4.0
market dar ge of rents for sin 2,0 $ 6.0
et rents and vacancy, and support for the above adius m ....... y properlies, an estimate of vacancv for sin-i^ ,--, : ~ -~
The subject is currently vacant and has no h/story as a rental property. Using the above local rentals, I would estimate the monthly rent
u v :.e market, not to Itle subject properly ) g
$850.00 with all utilities paid by the renter.
Final Reconciliation ol Market Rent; Based on the above rentals the data indicates a rental value between $840 to $873 per month.
(WE) ESTIMATE THE MONTHLY MARKET RENT OF THE SUBJECT AS OF
IAPPRAISERz~/
~, Sin~ _A ril 3 2001-/'~
~,fica~ion, RL~54-L
~r ~a~ic~se ~
PA Cedified Residential Real Estate Appraiser
04/03/2001
TO BE
SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Slam PA~ Slate Certlflcahon #
Slate Or Slale License #
F~.ddie Mac Form 1000 (8/88)
John S Ensminger Appraisals
850
Slate
Stale
Fannie Mae Form 1007 (8/88)
File No. 00855442
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competiHve and Open
under all coudil~o~s requisite Io a lair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price ~s
affecled by undue stimulus. Implicil in Ibis definiti~)n is the consummation of a sale as of a specified date and the passing of lille
seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well
and each acting in what he considers his own best interest; (3) a reasonable lime is allowed for exposure in Ihe open market; (4) pay~,:~
~s made in lerms of cash in U.S. dol~s or in terms of financial arrangements comparable thereto; and (6) the price represents the
consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated
sale.
'Adjustments to lhe comparables ~ be made for special or creative financing or sales concessions. No adjustments are necessa~
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
seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable prot:e;:,
by comparisons to financing terms ofle~ed by a third party institutional lender that is nol already involved in the properly or transacnon.
adjuslmenl sl~ould not be calculaled on a mechanical dollar for dollar cost of the financing or concession but Ihe dollar amount of
adjustment should approximate the madmt's reaction to the financing or concessions based on the Appraiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification Ihat appears in the appraisal reporl is subject to
following conditions:
1. The appraiser will not be responsible for mailers ol a legal nature that affect either the property being appraised or the lille Io it.
appraiser assumes that the lille is goal and marketable and. lherefore, will not render any opinions aboul II]e title. The properly is appraise,:
on the basis of il being under responsible Ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch
included only to assist the reader olthe ~ in visualizing Ihe properly and underslanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by Ihe Federal Emergency Management Agency (or other dale
sources) and has noted in the appraisal reporl whether the subject site is located in an identified Special Flood Hazard Area. Because
appraiser is not a sun~eyor, he or she makes no guarantees, express or implied, regarding this determination.
4. The appraiser willnot give lesfimomj or appear in court becausehe or she maclean appraisal of the propertyin question, unless specific
arrangements to do so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their
contributory vaJue. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal
are invalid if they are so used.
6. The appraiser has noted in the ap~aisat report any adverse conditions (such as. needed repairs, depreciation, the presence of hazardo[~s
wastes, toxic subslances, etc. ) observed during Ihe inspection of lhe subject properly or that he or she became aware of during the normai
research involved in performing the apl~'aiseL Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden
or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic
subslances, etc. ) that would make the property more or less valuable, and has assumed thai there are no such conditions and makes no
guafanlees or warranties, express or m~.lied, regarding Ihe condition of the property. The appraiser will not be responsible for any suc~:
conditions that do exist or for any engineering or testing Ihat might be required to discover whether such conditions exist. Because the
appraiser is not an expert in Ihe field of envifonmenlal hazards, the appraisal report must not be considered as an environmental assessmenl
of the properly.
7. The appraiser obtained the Information. estimates, and opinions that were expressed in the appraisal report from sources that he or she
considers lo be reliable and believes them to be [rue and correct. The appraiser does no£ assume responsibility for the accuracy of SUch
items that were lurnished by other parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional
Appraisal Practice.
9. The appraiser has based his or her apFaisal report and valuation conclusion for an appraisal that is subject to salisfactory completion,
repairs, or alterations on the assumption till completion of the improvements will be performed in a workmanlike manner.
'iO. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the
appraisal report (incl,ding conclusions al]em Ihe property value, the appraiser's identity and professional designations, and references to
any professional appraisal organizations or Ihe firm with which the appraiser is associated ) to anyone other than the borrower; Ihe
mortgagee or ils successors and assigns; the mortgage insorer; consullants; professional appraisal organizations; any state or federally
approved financial inslitulion; or any deparlmenl, agency, or instrumentality of Ihe United States or any slate or the District of Columbia;
except that the lender/client may distribute Ihe properly description Seclion of the report only to data collection or reporting service(s)
withoul having lo obtain the appraiser's p~ior wrillen consenl. The appraiser's written consent and approval must also be obtained before
the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
Freddie Mac Form 439 6-93
Page 1 of 2
Fannie Mae Form 10048 6-93
File No. 00855442
APPRAISERS CERTIFICATION: The Appraiser certifies and agrees ~hat:
1, I have researched lhe subject markel area and have selecled a minimum of three recent sales of properties most similar and pr~,.--_~
to the subject property for consideralion in the sales comparison analysis and have made a dollar adjuslmenl when appropria e to
market reaclion to lhose ilems ol. signil.icanl varialion. II a signil.icanl ilem in a comparable property is superior Io, or mo~e favorabic ,..-,:
lhe subjecl property, I have made a negalive adjustment Io reduce the adjusled sales price ol. lhe comparable and, il' a signibca ~t
comparable properly is mlerior Io, or less favorable than Ihe subject properly, I have made a positive adjustme~ t to iucrease tile a,;
sales price ot Ihe comparable.
2. I have takeo into consideration the factors that have an impacl on value in my development of lite estimale of market value ,;; ~..
appraisal report, I have not knowingly wilhheld any significant infonnalion Irom Ihe appraisal reporl nod I believe, to Ihe bust ~'
knowledge, thai all statements and information in lhe appraisal report are Irue and correcL
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are s~. e:.
on!y 1o the conlingent and limiting condilions specilied in Il.lis form,
4. I have no present or prospective interesl in lhe property that is the subject to lhis report, and I have no present or prospective persc,~_=
interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or
estimate of market value in lhe appraisal reporl on the race, color, religion, sex, handicap, familial slalus, or nalional origin of either
prospeclive owners or occupants of Ihe subject properly or of Ihe presenl Owners or occupanls of the properties in tile vicinity oi
subject properly.
5. I have no present or conlemplated l.ulure interest in lhe subject property, and neilher my current or fulure employmem nor --,:.
compensation for performing Ibis appraisal is conliogenl on die appraised value of the property.
6. I was nol required to report a predetermined value or direclion in value that favors lhe cause of the client or any relaled
the amounl ol. tile value eslimale, the allainmeol ol. a specific resull, or Ihe occurrence of a subsequent evenl in order Io recurve :~.
compensalion and/or employment for performiog the appraisal. I did nol base Ilia appraisal report on a requesled nmlinnml valual~,~]
specilic valualion, or Ihe need to apFove a specilic morlga9e Ioau.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appra~,:l
with Ihe exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable
time for exposnre in the open market is a condition in tile definition of market value and the estimate I developed is consistent w~ttl
marketing lime noted in lhe neighborhood secbon ol Ibis reporL unless I have olherwise slated in the reconcilialJon seclion.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparaLlrs
in the appraisal report. I further certdy Ihat I have noled any apparent or known adverse conditions in the subject improvemenls, uJ~
subjecl site. or on any site wilhin lhe immediale vicinity o[ Ihe subjecl property of which I am aware and have made adjuslmenls fuf
adverse conditions in my analysis of the properly value to lhe extent that I had market evidence Io support Ihem. I have also conlmen[cd
about Ihe effect of the adverse conditions o~ the marketability of the subject property.
9. I personally prepared all conclusions and opinions about Ihe real estate that were set forth in the appraisal report. If I relied on
significant professional assistance from any individual or individuals in the performance of lhe appraisal or lhe preparation of the ap,ur,~al
report, I have named such individual(s} and disclosed the specific tasks performed by Ihem irt the reconciliation section ol Ibis appraisal
report. I certify Ihal any individual so named is qualified to perform lhe lasks. I have not authorized anyone to make a change Io any ~tem e]
file report; therefore, if an unaulhorized change is made to tile appraisal report, I will lake no responsibility l.or il.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal re orr
and agrees that: I direclly supervise the appraiser who prepared the appraisal report have rewewed the a rmsalPre, he or she certifies
statements and conclusions ol. the appraiser agree to be bound by the appraiser's certiiications n~mbered 4 I~u' h ? a~)~ a-~i;e ~ith the
full responsibilily for Ihe appraisal and the apFaisal report, g a ~ ~akmg
ADDRESS OF PROPERTY APPRAISED:
APPRAISER:
121 W..___~Winding Hill Rd Mechanicsbur PA 17055
Signalure: ~ ,__-
Name: Joh~ S Ensminger -,-~
Date Signed: 04/03/20~1
State Cenilication #: RL-._._OOO1554-L
or State License #:
Slate: PA Certified Residential Real EstaJe Apprais=:r
ExpiratiOn Dale of Certification or License: 06/30/2001
PA Certified Residential Real Estate Appraiser
Freddie Mac Form 439 6-93
SUPERVISORY APPRAISER (only it' required)
Signature:
Name:
Date Signed:
State Certification ~:
or State License ~:
Stale:
_ Expiration Date of CerlilicatJon or License:
[] Did [] Did Not Inspect Property
Page 2 of 2
Fannie Mae Form ~0048 6-93
SUBJECT PROPERTY PHOTO ADDENDUM
I ~ ~,,,~:,~:-,~;::?..~.,.,_u,_ ~ Case No~ ~--'--'"'-~
L~,.,.~L VVI'HMI CP REALTOR.C~--------'------ State. PA ~" ~.
......... Z?~_L... 17055
FRONT VIEW OF
SUBJECT PROPERTY
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
dCOMPARABLE PROPERTY PHOTO ADDENDUM
...... Case No.: ~
........... "~ ~"~ r~["ALTOR-CS0 ~a[.._~e: PA Z~: 17055
COMPARABLE SAL£ #1
16 Greenway Dr
Mechanicsbur§
COMPARABLE SALE ,'/2
305 Widders Dr
Mechanicsburg
COMPARABLE SALE #3
910 Bonny Ln
Mechanicsburg
SUBJECTPHOTOs
_Fi~e No.: 00855442
_ Case No.: -
Subject side view
Subject Front View
LOCATION MAP
- ~ ~ Case No.:~
Lender: WFHMI cP REALTOR C80 State: PA
,,' ...
~. ...., ~ , .... .,
I .'· "k
· /,.... ~ ~'-~.:: ....
/
415 Bernheisel ~~~ __ -~ ""
....... ~ .... ,~.a[.sm P'A 17013-9025 7~ ~ - -
~ess: 121~ Hill Rd
APPRAISERS LICENSE
Fif~
Ca__se No.:
15 Bemh~ ~
FLOORPLAN
till Rd
23'
30'
Bedroom
Bath
Bedroom Bedroom
Sta
rs
14'l Fatal ly Room
Pdt
Kitchen
Stairs
51'
28'
DI nl ng Room
LI vt ng
26'
8KU~TC'H CALCUY..,ATZ ONnf
Al : 28.0 x 10.0
A2 : 30.0 x 2.0 .
A3 : 51.0 x 14.0
Attached Garage
Fi rst FI oor
A6 : 23.0 x 30.0
280.0
60. 0
714.0
0.0
1054.0
690.0
Second FI Oor
To~&~ L~v~ng
690.0
~744.0
A7 : 23.0 x 10.0 .
A8 : 21.0 x 2.0 .
Attached Garage
230.0
42.0
272.0
415 Bemheisel B
Statement provided by
PRUDENTIAL SECURITIES, INC.
of Date of Death Account Holdings
Account Title: The Magel Family Trust
Trustees: Frank M. and Regina M. Magel
Frank Magel
Date of Death
Security Friday Monday
Shares Description 10/19/01 10/22/01
Equities and Options
31,323 AOL Time Warner, Inc. 31.170 31.650
70 Call 100 AOL 0.800 0.900
70 Call 100 AOL 0.150 0.050
70 Call 100 AOL 0.100 0.050
70 Put 100 AOL 11.330 10.900
135 Mellon Financial Corp 32.510 33.550
Preferred Stocks
1
1
1
1
1
1
000 BSCH Finance LTD 25.070 25.070
000 Citigroup Capital 24.970 24.980
000 Corporate Backed Trust 25.400 25.650
200 Host Marriott Corp 22.600 23.000
000 Lehman Brothers Holdings 25.550 25.500
000 Ohio Power Co. 25.050 24.970
800 Phillips 66 Capital 25.250 25.290
Mortgage and Asset-Backed Securities
200,000 PNC Mortgage Sec.
103.740 103.734
PA REV-1500
SCHEDULE H
FUNE~ EXPENSES and
ADMINISTRATIVE COSTS
August 8, 2002
Mrs. Regina M. Magel
111 West Winding Hill Road
Mechanicsburg, PA 17055
8 Market Plaza Way
Mechanicsburg, PA 17055
(717)697-4696
The Funeral Service for Frank M. Magel
We sincerely appreciate the confidence you have placed in us and will continue to assist you in every way we can.
feel free to contact us if you have any questions in regard to this statement.
THE FOLLOWING IS AN ITEMIZED STATEMENT OF THE SERVICES, FACILITIES, AUTOMOTIVE EQUIPMENT,
AND MERCHANDISE THAT YOU SELECTED WHEN MAKING THE FUNERAL ARRANGEMENTS.
1. PROFESSIONAL SERVICES
Services of Funeral Director/Staff
................... $2985.00
3. AUTOMOTIVE EQUIPMENT
Limousine ...... $225.00
SELECTED M~RCHAND/SE:
Steel Protective Casket
...................... $2785.00
Burial Vault
......................... $955.00
Register, Prayer Cards
...................... $45.00
THE COST OF OUR SERVICES, EQUIPMENT, AND MERCI]AND/SE
THAT YOU HAVE SELECTED $6995.00
AT THE TIME FUNERAL ARRANGEMENTS WERE MADE, WE ADVANCED CERTAIN PAYMENTS TO
OTHERS AS AN ACCOMMODATION. THE FOLLOWING IS AN ACCOUNTING FOR THOSE CHARGES.
CASH ADVANCES
Opening Grave.
........................ $475.00
Cemetery Equipment
................ - ....... $95.00
Newspaper Notices - Out-of-town
................... $62.00
Clergy/Mass Offering. $150.00
Organist $75.00
Certified Copies of the Death Certificate $50.00
Military Honor Guard
....................... $50.00
TOTAL CASH ADVANCES AND SPECIAL CHARGES ........ $957.00
CONTRACT PRICE ................... $7952.00
HISTORY
12/07/2001 Cumb. Co. VA Allowance ..................
12/07/2001 Cumb. Co. VA Allowance. .................
12/07/2001 Payment
TOTAL AMOUNT DUE ..................
$100.00
$-100.00
$-7952.00
$o.oo
Please
Harrisburg, PA 17106-7013 (800) 237-7328 (Nati0nwi~e)
website - hffp://www, psecu.com
VISA'
~n~ atone ~er~ng and t'anster your Vba peym~-
.¢~1. ua at (800) 237-7328 nationwide m' {717) ;?.34-84,84
rrm~uro..n~ ~e menu 8tmm, enter 44. aaron
mid follow ~'le irm'mJcllor~ (You'll need your nccaunt numbe~
Either Wa), - No ODer, QLIJck & E8~¥. Available ~4-houm ·
I,,,llh,,lll,,,,h h,hh,hh,,,llh,,hhh,,,Ih,,Ih,hll
FRANK A MAGEL
111 W WINDING HILL RD
MECHANICSBURG PA 17055-5175
3090200580346
TO REPORT A LOST OR STI~ I=N CARD; CALL al. JR BUSINESS NUMBERS USTED ATTHE TOP OF EACH 8'I~TEMENT PAGE CREASE BEFORE
FROM 7 AM - S PM MONDAY TO FRIDAY AND 8 AM TO 12 PM SATURDAy, OTHERWISE C
ZD 09 VZSA LOAN
POST TRAN REFERENCE DESCRIPTION
1007 1004 Z4599008PSDQYgXys 5511 KHART 00077461 CARLISLE PA
1024 1022 246161498VFEHVQEA 5992 PEALER'S FLONER SH-FTD CAHP HILL PA
1025 PAYHENT VIA SST TRANSFER FROM SHARE O1
1025 1025 24501759AHGNHN2EH 7542 TRIANGLE CAR HASH HECHANICSBURG PA
1029 1026 24599009D42QADBYT 5812 OLIVE GARDEN 00014712 HECHANICSBURG PA
1029 1027 24158299DgGRJQQFZ 5211 LOHE'S #405 NECHANICBURG PA
1029 1026 24599009D42QADAY9 5812 OLIVE GARDEN 00014712 NECHANICSBURG PA
YTD FINANCE CHARGE~ YEAR TO DATE
378.65
AMOUNT
31.98
96.41
252.75-
25.51
59.49
106.00
584.75
RECEIPT FOR PAYMENT
Cumberland County - Register Of Wills
Hanover and Hiqh Street
Carlisle, PA ~7013
Receipt Date
Receipt Time
Receipt No.
3/01/2002
15:15:55
1028511
MAGEL FP~ANK M
File Number
Remarks
2002-00216
REGINA M MAGEL
AC
Transaction Description
PETITION FOR PROBA
EXTP~A PAGES
SHORT CERTIFICATE
JCP FEE
Distribution Of Receipt ........................
Payment Amount Payee Name
865.00 CUMBERLAND COUNTY GENERAL FUN
45.00 CUMBERLAND COUNTY GENERAL F%~
18.00 CUMBERLAND COUNTY GENERAL FUN
5.00 BUREAU OF RECEIPTS & CNTR M.D
Check# 1053 ~933.00
Total Received ......... 933 00
MEMORIALS
"A T~bute to Life"
5243 Simpson Fem7 Road, Mechanicsburg, PA 17055 · (717) 766-5622
SOLD TO:. ~r~O1; ¢~CL. ~/~.
Phone (H) -~;6- ~ ~ ~ (W)
Date of Order
Cemetery ~
Location
Order 27758
Supplier
Ack. #
Date Rec'd
Found. ordered
Position verified
Complete
Center Over ~, Graves
Approx. Date of Completion
Lot #
LeVering
{ I Ot";a J~'l[' Material Finish., ?ol. ~'
OCT ~e~ AC~ I
Type of Memorial
Size 3 '(o
Base c~' ~" X/' ~1"
Misc.
Design
Location:
)~],Vase ~,~ .~'~a\cra~C~- C~o~n- ~3{~c~ l-l Corner Posts
Agreement: A 50% deposit is required prior to commencement o1' work.
Agree ID pay stated balance upon erection regardless of labor troubles or shipments or any other good reasons. This order or cuntsc~ canno{ be cancelled
by customer unless agreed by both pa~lles. The article herein mentioned shall remain the property ol' Jlmee R. Glngrich Memorials until paid in hJII and
they reserve the ~ight to remove the same is not paid as stated.
I agree to carel'ully proofread all names and dates for accuracy and accept full responsibility for any errors or omisslens. THERE WILL SE AN ADDITIONAL
CHARGE FOR ANY LETTERING ADDED TO THIS MEMORIAL AFTER EREC'rED ON THE CEMETERY.
I further agree Io pay the baJance stated for lhe work performed under this ccnlract within thirty (30) days o~ receipt of the final invOiCe and I'urther agree
that znterest shall accrue at {he rate of one and one-half pement (1~%) 13er month on Ihe unpaid balance Owed to James R. Gingrich Memohais not paid
within thirty (30) days of the invoice date. In addition thereto. I agree if it becomes necessary for James R. Ging~.h Io th~titule legal proceeding to collect
Dealer
Salesman
Type of Sale
WHITE/Office YELLOW/Production
Price
Foundation
TOTAL ¢ ~ -1~
DEPOSIT
Balance Due
'~ Upon Completion $ o~ C~ 3 L~ . ~
.~ ~'z / ~ ~-';'..~/'
(I further agree that the above names, ~'pelling, and dates are correct)
Date Entered
PiNK/Customer GOLDENROD/Branch .
0
Guy A. Eckert
7'95-9107
Aaron L. Potteiger.
697-1365
Fully Insured - Free Estimates - Available Weekends
Backhoe
Minihoe
Hauling
Snow Removal
AARON L. POTTEIGER & SON
475 Sample Bridge Road
Enola, PA 17025
INVOICE
/o- ~.~-
D&T£ Subtotal
TEr~MS: NET DUI= UPON RECEIPT 1.5% MONTHLY FINANCE CHADi.~E ADDED TO ALI. Sales Tax
INVOICES NOT PAID WffHIN 30 DAYS OF INVOICE DATE Total i
Chestnut Hill Cemetery Association
~11[1)~1~ ~[[[ ~1~111: ~ ~]~,~1~ ,!~'l~,~l~t,~, That the CHESTNUT HIlL CEMETERY AS~IA-
TION, of the Borough o~Mechanicsburg, County of Cumberland and State of Pennsylvania, for, and in con-
siderafion of f~ sum of_ ~.~ Dollars, the recelpf of which is hereby acknowledged HAVE grant-
ed, bargained, so~and confirmed, and by fhese~resenfs ,DOTH grant, bargain, sell, confirm and conve un
~ ) c - ~ , · y 'o
heirs, the exclusive and entire right of interment or sepulture only in all ~haf ce~ain Buri~ Lot within
the enclosure of +he CHESTNUT HILL,CEMETERY, in the Township of Upper Allen, County of Cumberland end
State of Pennsylvania; and which is designed as Lo+~ ~ No ..... ~-.~ ~n Secfion_~._, containing
~O ~ ~O~ ~O~' square feel,
TOGETHER wifh fha rlghf of ingress and egress fo and from said Lof for all purposes of sepulfure: TO HAVE
AND TO~D said Lof of Ground hereby conveyed, wlfh the heredifamen~ and appurlenances unfo the
and
heirs and such assigns as may be approved by the Association. PROVIDED, HOWEVER,
that the tenure by which said Lot shall forever be holdin shall be in subordination fo the Charter and By-Laws of
said CHESTNUT HILL CEMETERY ASSOCIATION which now exlsf, or which may be hereafter ordained or
passed for ifs proper government, by ifs constituted aufhorlfy.
st mon The said Association hath hereunto affixed ifs Corporate Seal, and in at-
testation thereof ifs President and Secretary have hereunto set their hands his ___ day of
~E~EIVE, ~,s '~
CUMBERLAND COUNTY, ss:
Person. ally appeared before me, a Justice of the Peace or Notary Puplic inand for sald aCff~to b~e the
~)~C3t'~ the President of the CHESTNUT HILL CEMETERY seal thereunto ·
corporate seal of the said Association, placed there by him in pursuance of the By-Laws thereof, that the same
might be recorded as such.
estimon , reof, ,have hereunfo set
^.
day of
PA REV-1500
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES
and LIENS
NO.?E4 P.1/1
Confid ential :,Fax Cover Sheet
L
This facsimile tm~,'~ission is confidential and may be priv. lleged. ]:t is intended for the use of the addressee only. ]~f
you are Mot the addr~ss~ (or the person responsible for delivering this transmission to the addressee), do not use this
trarlsmis$1on in any way, but promptly contact the sender .by telephoqe. Thank you.
To F~om
'~ ~tes Halb~er & Hatch ~ Wells Fa~o Home Mo~gage
Phone , Phorl~
Fox Fax
~ 301-696-~4
717-733. -96~7
Estate of Frank M. Magel
Number of pages (iqcludl~ corec sheet)
Message -._.
Wells,,Fargo Home Mortgage Loan No.: 591-5927328
Mortgagor(s): Estate of Frank M, Magel
Per your request:
Original F.'rincipal Balance $I54,800.00.
Originatiott Date 04/[7/?00!
Balance ~ of 10/21/;>001 $153,112.1~
Please feel free t:p contact me at the number abav~- or by email if you have any questions..
Thanks
Doris Doan~n
Legal Process 5pa, c, ialist
Doris.l~oonan~ mo, l~qa_qe.w el Isfacqo.com
LOWELL R. GATES
Also Admitted to Massachusetts Bar
MARK E. HALBRUNER
Also Admitted to New Jersey Bar
CRAIG A. HATCH
CORY J. SNOOK
ALBERT N. PE'FERLIN
Also Admitted to Maryland Bar
STACEY L. NACE
Paralegal/Office Manager
TRACl L. SEPKOVIC
Paralegat
VALERIE LONG
Paralegal
LAW OFFICES OF
GATES, HALBRUNER SzTHATcH, P.e.
1013 MUMMA ROAD · SUITE 100 ° LEMOYNE, PENNSYLVANIA 17043
(717) 731-9600 · FAX: (717) 731-9627
January 20, 2003
BRANCH OFFICE:
3 WESI MONUMENT SQUARE, SUITE 304
LEWISTOWN, PA 17044
(717) 248-6909
WEB SITE:
www. GatesLawFirm.com
CORRESPONDENCE ADDRESS:
Lemoyne Office
Cumberland County Courthouse
Office of the Register of Wills
One Courthouse Square
Carlisle, PA 17013
Estate of Frank M. Magel
Estate No. 21-02-0216
Dear Sir or Madam:
Enclosed for filing are the Pennsylvania Inheritance Tax Remm (in duplicate), Federal
Estate Tax Return and Status Report for the Estate of Frank M. Magel. A check in the amount of
$15,167.11 is enclosed as payment of the balance of inheritance tax due and a second check in
the amount of $25.00 is enclosed as the filing fee for the Return. Please time-stamp the
photocopy of page 1 of the tax return and the photocopy of the Status Report and return them to
our office in the enclosed envelope along with the receipts for payment of the tax and fees.
Please contact our office if you need any additional information. Thank you for your
assistance in this matter.
Enclosures
cc: Frank A. Magel, Executor
Sincerely,
/' .
Traci L. Sepkovic
Paralegal
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPT. 280601
HARRISBURG, PA 17128-0601
RECEIVED FROM:
PENNSYLVANIA
INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
NO.
REV-1162 EX(11-96)
CD O02066
HATCH CRAIG A
1013 MUMMA ROAD SUTIE 100
LEMOYNE, PA 17043
........ fold
ESTATE INFORMATION: SSN: 125-05-3080
FILE NUMBER: 2102-0216
DECEDENT NAME: MAGEL FRANK M
DATE OF PAYMENT: 01/22/2003
POSTMARK DATE: 01 ~20~2003
COUNTY: CUMBERLAND
DATE OF DEATH: 10/20/2001
ACN
ASSESSMENT
CONTROL
NUMBER
AMOUNT
101 $15,167.11
REMARKS'
TOTAL AMOUNT PAID:
FRANK A MAGEL
C/O CRAIG A HATCH ESQUIRE
$15,167.11
SEAL
CHECK//104
INITIALS: CW
RECEIVED BY:
DONNA M. OTTO
DEPUTY REGISTER OF WILLS
REGISTER OF WILLS
PLEASE FILE THIS REPORT WITHIN TWO YEARS OF DATE OF DEATH REGARDLESS OF
THE STATUS OF THE ESTATE. IF ESTATE IS NOT COMPLETED, FILE FORM 6.12 YEARLY
UNTIL COMPLETION.
Name of Decedent:
Date of Death:
Will No.:
STATUS REPORT UNDER RULE 6.12
Frank M. Magel
October 20, 2001
21-02-0216
Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with
respect to completion of the administration of the above-captioned estate:
1. State whether administration of the estate is complete: No
If the answer is No, state when the personal representative reasonably believes that the
administration will be complete: October 2003
3. If the answer to No. 1 is yes, state the following:
mo
Did the personal representative file a £mal account with the court? N/A
The separate Orphans' Court No. (if any) for the personal representative's
account is: N/A
Co
Did the personal representative state an account informally to the parties in
interest? N/A
Do
Date: JanuarY 20, 2003
Copies of receipts, releases, joinders and approvals of formal or informal
accounts may be filed with the Clerk of Orphans' Court and may be attached to
this report.
- C~g A. Hatch, Esquire
/PA I.D.//76361
GATES, HALBRUNER & HATCH, P.C.
1013 Mumma Road, Suite 100
Lemoyne, PA 17043
(717) 731-9600
Capacity: Counsel for Personal Representative
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DIVISION
DEPT. 28060]
HARRISBURG, PA 17]28-0601
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOT[CE OF INHERITANCE TAX
APPRAISEHENT, ALLOWANCE OR DISALLOWANCE
OF DEDUCTIONS AND ASSESSMENT OF TAX
CRAIG A HATCH ESQ
GATES ETAL
1015 MUMMA RD STE
LEMOYNE
100
CUT ALONG THIS LINE
REV-1547 EX AFP C01-05)
PA 17045
NOTICE OF
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
05-24-2005
MAGEL
10-20-2001
21 02-0216
CUMBERLAND
101
Amount Remitted
REV-1547 EX AFP (01-03}
FRANK H
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17015
INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR
RETAIN LOWER PORTION FOR YOUR RECORDS
ESTATE OF MAGEL
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
FRANK H FILE NO. 21 02-0216 ACN 101
DATE
TAX RETURN NAS: C X} ACCEPTED AS FILED
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
C ) CHANGED
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Real Estate CSchedule A} C1)..
2. Stocks and Bonds CSchedule B) C2)
$. Closely Held Stock/Partnership Interest CSchedule C) CS)
~- Mortgages/Notes Receivable CSchedule D)
5. Cash/Bank Deposits/Misc. Personal Property CSchedule
6. Jointly Owned Property CSchedule F) C6)_
7. Transfers CSchedule G)
8. Total Assets
APPROVED DEDUCTIONS AND EXEMPTIONS:
9. Funeral Expenses/Adm. Costs/M/sc. Expenses CSchedule
10. Debts/Mortgage Liabilities/Liens (Schedule I) C10).
11. Total Deduct/ons
12. Net Value of Tax Return
.00
.00
.00
.00
.00
16,748.05
1~862~546.55
(8)
102,521.24
155,112.12
(11)
15.
14.
NOTE:
ASSESSMENT OF TAX:
PAYMENT
DATE
07-22-2002
01-20-2003
NOTE: To insure proper
credit to Your account,
submit the upper port/on
of this form w/th Your
tax payment.
1,879,294.58
1,625,861.22
AMOUNT PAID
19,000.00
15,147.11
TOTAL TAX CREDIT J 55,754.19 J
BALANCE OF TAX DUEI 1,051.$6CR
INTEREST AND PEN. / .00
TOTAL DUE ~ 1,051.$6CR
c IF TOTAL DUE IS LESS THAN ~1, NO PAYMENT IS REQUIRED.
IF TOTAL DUE IS REFLECTED AS A "CREDIT,, CCR), YOU MAY BE DUE
A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.)
IF PAID AFTER DATE INDICATED, SEE REVERSE
FOR CALCULATION OF ADDITIONAL INTEREST.
15. Amount of L/ne 14 at Spousal rate
i6. Amount of L/ne 14 taxable at Lineal/Class A rate
17. Amount of L/ne 14 at Sibling rate
18. Amount of L/ne 14 taxable at Collateral/Class B rate
19o Principal Tax Due
TAX CREDITS:
RECEIPT DISCOUNT {+]
NUMBER INTEREST/PEN PAID C-)
CD001434 . O0
CDOO206& 412.92-
(15) 896,687.51 x O0 = .00
(1~).. 727,175.91 x 045 = 52,722.85
(i7), .00 x 12 = .00
(18) .00 x 15 = .00
(19)= 52,722.85
C12)
Charitable/Governmental Bequests; Non-elected 9115 Trusts CSchedule J) Cl$) .00
Net Value of Estate SubSect to Tax
(14> 1,625,861.22
If an assess,ent was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 w/Ii
reflect figures that include the total of ALL returns assessed to date.
RESERVATION= Estates of decedents dYing on or before December 12, 1982 -- if any future interest in the estate is transferred
in possession or enjoyment to Class B (collateral) beneficiaries of the decedent after the expiration of any estate for
life or for years, the Commonwealth hereby expressly reserves the right to appraise and assess transfer Inheritance Taxes
at the lawful Class B (collateral) rate on any such future interest.
PURPOSE OF ,
NOTICE= To fulfill the requirements of Section 2140 of the Inheritance and Estate Tax Act Act 25 of 2000. (72 P.S.
Section 9140).
pAYNENT= Detach the top portion of this Notice and submit with your payment to the Register of Wills printed on the reverse side.
--Hake check or money order payable to: EEGISTE~t OF NILLSj AGENT
REFUND (CE)= A refund of a tax credit, which was not requested on the Tax Return, may be requested by completing an "Application
for Refund of Pennsylvania Inheritance and Estate Tax" (REV-I$1$)o Applications are available at the Office
of the Register of Wills, any of the 25 Revenue District Offices, or by calling the special 24-hour
answering service for forms ordering= 1-800-$62-2050; services for taxpayers with special hearing and / or
speaking needs= 1-800-~7-$020 (TT onlY),
OBJECTIOHS: Any party in interest not satisfied with the appraisement, allowance, or disallowance of deductions, or assessment
of tax (including discount or interest) as sho~n on this Notice must object within sixty (60) days of receipt of
this Notice by:
--written protest to the PA Department of Revenue, Board of Appeals, Dept. 281021, Harrisburg, PA 17128-1021, OR
--election to have the matter determined at audit of the account of the personal representative, OR
--appeal to the Orphans' Court.
ADNIN-
ISTRATIVE
CORRECTIONS= Factual errors discovered on this assessment should be addressed in writing to= PA Department of Revenue,
Bureau of Individual Taxes, ATTN= Post Assessment Review Unit, Dept. 280601, Harrisburg, PA 17128-0601
Phone ¢717) 787-6505. See page 5 of the booklet ,'Instructions for Inheritance Tax Return for a Resident
Decedent" (REV-1501) for an explanation of administratively correctable errors.
DISCOUNT: If any tax due is paid within three ($) calendar months after the decedent's death, a five percent (SX) discount of
the tax paid is allowed.
PENALTY= The 15~ tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not
paid before Januar~ 18, 1996, the first day after the end of the tax amnesty period. This non-participation
penalty is appealable in the same manner and in the the same time period as you would appeal the tax and interest
that has been assessed as indicated on this notice.
INTEREST: Interest is charged beginning with first day of delinquencY, or nine (9) months and one (1) day from the date of
death, to the date of payment. Taxes which became delinquent before January 1, 1982 bear interest at the rate of
six (BX) percent per annum calculated at a daily rate of .000164. All taxes which became delinquent on and after
January 1, 1982 will bear interest at a rate which will vary from calendar year to calendar year with that rate
announced by the PA Department of Revenue. The applicable interest rates for 1982 through 2005 are:
Interest Daily Interest Daily
1982
1983
1984
1985
1986
--Interest
Year Rate
Rate Factor
20~ .000548 1987 9~
16~ .000438 1988-1991 11~
11~ .000301 1992
13~ .000356 1993-199~
10~ .000274 1995-1998
iS calculated as follows:
Factor
.000247
.000301
.000247
.000192
.000247
Interest Daily
Year Rate Factor
1999 7~ .000192
2000 8~ .000219
2001 9~ .000247
2002 ~ .00016~
2003 5~ .000137
= BALANCE OF TAX UNPAXD X NUI~BER OF DAYS DELXNQUENT X DAXLY INTEREST FACTOR
--Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15) days
beyond the date of the assessment. If payment is made after the interest computation date shown on the
Notice, additional interest must be calculated.
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DTVISTON
DEPT. 280601
HARRISBURG, PA 17128-0601
COMHONNEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOTICE OF DETERMINATION AND
ASSESSMENT OF PENNSYLVANIA
ESTATE TAX BASED ON FEDERAL
ESTATE TAX RETURN
CRAI$ A HATCH ESI~ '0.~ JUN -6 Alt :47
GATES ETAL
1015 MUMMA RD STE lO~sf
LEMOYNE PA
DATE
ESTATE OF
DATE OF DEATH
FILE NUHBER
COUNTY
ACN
REV-48S EX AFP (0l-0S)
06-09-2005
MAGEL FRANK H
10-20-2001
21 02-0216
CUMBERLAND
201
Amoun~ Remi~ed
HAKE CHECK PAYABLE AND REM2T PAYHENT TO:
REGISTER OF MILLS
CUHBERLAND CO COURT HOUSE
CARLISLE, PA 17015
NOTE: To /nsure proper crod/~ ~o your account, subm/~ ~he upper por~/on of ~hJs form wJ~h your ~ax payment.
CUT ALONG THIS LINE ~' RETAIN LONER PORTZON FOR YOUR FILES ~
REV-483 EX AFP (01-03) ~ NOTZCE OF DETERNZNATZON AND ASSESSMENT
OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN ..
ESTATE OF HAGEL FRANK N FILE NO.21 02-0216 ACN 201 DATE 06-09-2005
ESTATE TAX DETERNZNATZON
1. Credit For State Death Taxes as Verified
2. Pennsylvania Inheritance Tax Assessed
(Excluding Discount and/or Interest)
SZt722.85
Inheritance Tax Assessed by Other States
or Territories of the United States
(Excluding Discount and/or Interest)
.00
~. Total Inheritance Tax Assessed
5. Pennsylvania Estate Tax Due
TAX CREDITS:
PAYHENT
DATE
RECEIPT
NUMBER
~IF PAID AFTER THIS DATE, SEE REVERSE SIDE
FOR CALCULATION OF ADDZTZONAL ZNTEREST.
DISCOUNT (+)
INTEREST/PEN PAID (-)
AMOUNT PAID
TOTAL TAX CREDZT
BALANCE OF TAX DUE
ZNTEREST AND PEN.
TOTAL DUE
19~30q.3q
$Zt722.85
.00
(IF TOTAL DUE ZS LESS THAN $1, NO PAYMENT IS REQUIRED
ZF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU HAY BE
DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.)
.00
.00
.00
.O0
PURPOSE OF
ROTICE:
pAYMENT:
To fulfill the requirements of Section Z140 (b) of the Inheritance and Estate Tax Act, Act g$ of ZOO0.
(TI P.S. Section 9140).
Detach the top port[on of this Notice and submit aith your payment to the Register of Rills printed on the
reverse side.
-- Make check or money order payable to: REGISTER OF NILLS~ AGENT.
REFUND (CA): A refund of a tax credit amy be requested by completing an "Application for Refund of Pennsylvania
Inheritance and Estate Tax" (REV-1313]. Applications are available at the Office of the Register of Wills,
any of the Z3 Revenue Bis[tic[ Offices or from the Oeparteant's Z4-hour answering service for forms ordering:
X-800-36Z-Z050) services for taxpayers aith special hearing and / or speaking needs: 1-800-q47-30ZO (TT only).
OBJECTIONS: Any party in interest not satisfied aith the assessment of tax as shown on this notice may object within
sixty (60) days of receipt of this Notice by:
--written protest to the PA Department of Revenue, Board of Appeals, Dept. zeloz1, Harrisburg, PA 17128-1021,
--electing to have the matter determined at audit of the personal representative, OR
--appeal to the Orphans' Court.
ADMIN-
ISTRATIVE
CORRECTIONS:
PENALTY:
INTEREST:
OR
Factual errors discovered on this assessment should be addressed in writing to: PA Department of Revenue,
Bureau of Individual Taxes, ATTN: Post Assessment Review Unit, Dept. gao6Ol, Harrisburg, PA 171Z8-0601,
Phone (717) 787-6505. See page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident
Decedent" (REV-1501) for an explanation of administratively correctable errors.
The 15X tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not
paid before January 18, 1996, the first day after the end of the tax amnesty period. This non-participation
penalty is appealable in the same manner and in the the same time period as you would appeal tho tax and interest
that has been assessed as indicated on this notice.
For dates of death on or after 10-3-91, Pennsylvania Estate Tax based on the Federal Estate Tax
return becomes delinquent et the expiration of nine (09) months from the date of death.
For dates of death prior to 10-3-91, Pennsylvania Estate Tax based on the Federal Estate Tax return
becomes delinquent at the expiration of eighteen (18) months from the date of death.
Taxes which became delinquent before January l, i98Z bear interest at the rate of six (6Z) percent par annum
calculated at a daily rate of .000164. All taxes which became delinquent on or after January 1, 198Z will bear
interest at a rate which will vary from calendar year to calendar year with that rate announced by the PA
The applicable interest rates for 1982 through 2005 are:
DeparfJsent of Revenue.
Interest Daily Interest Daily Interest Daily
Yea..~rr Rate.. Factor Yea~ Rate . Factor Yaa~ Rate . Factor.
198Z lOX .000S48 1987 9Z .000Z47 1999 7Z .00019Z
1985 16X .OOOq38 1988-1991 llZ .000301 ZOO0 8Z .000Z19
1984 Zig .000301 199Z 9X .000247 2001 9X .O00Zq7
1985 13X .000356 1993-1994 72 .O0019Z ZOOZ 6X .000164
1986 102 .000274 1995-1998 92 .000247 2005 5X .000137
as follows:
--Interest is colculated
INTEREST = BALANCE OF TAX UNPAID X NUIIBER OF DAYS DELTNQUENT X DATL¥ INTEREST FACTOR
--Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15) days
beyond the date of the assessment. If payment is made after the interest computation date shown on the
Notice, additional interest must be calculated.
BUREAU OF TNDTVZDUAL TAXES
TNHERZTANC£ TAX DTVZSZON
DEPT. 280601
HARRTSDURG., PA 1711&-0601
COHHONNEALTH OF PENNSYLVANIA
DEPARTNENT OF REVENUE
INHERITANCE TAX
STATEHENT OF ACCOUNT
CRAIG A HATCH ESQ '03 JUL ~8
GATES ETAL
1015 NUNNA RD STE 100 ~i~
LEHOYNE PA 17~i~qb~
DATE 06-50-2005
ESTATE OF HAGEL
DATE OF DEATH 10-20-2001
FILE NUHBER 21 02-0216
COUNTY CUHBERLAND
ACN 101
t Amoun~ Rem/~ted
REV-i&O? EX AFP
FRANK H
HAKE CHECK PAYABLE AND REHZT PAYNENT TO:
REGISTER OF HILLS
CUHBERLAND CO COURT HOUSE
CARLISLE, PA 17015
NOTE: To insure proper credit to your account, subm/t the upper port/on of this form with your ~ax payment.
CUT ALONG THIS LINE ~ RETA'rN LONER PORTION FOR YOUR RECORDS
REV-1607 EX AFP [01-03) ~#N INHERITANCE TAX STATEHENT OF ACCOUNT
ESTATE OF HAGEL FRANK H FILE NO. 21 02-0216 ACN 101 DATE 06-50-2005
THIS STATENENT 'rS PROVIDED TO ADV'rSE OF THE CURRENT STATUS OF THE STAY~-D ACN IN THE NANED ESTATE. SHONN BELON
'rS A SUHNARY OF THE PRINCIPAL TAX DUE, APPLZCAT'rON OF ALL PAYNENTS, THE CURRENT BALANCE, AND, ZF APPLICABLE,
A PROJECTED INTEREST FIGURE.
DATE OF LAST ASSESSHENT OR RECORD ADJUSTHENT: 05-17-2005
PRINCIPAL TAX DUE:
PAYHENTS
PAYNENT
DATE
07-22-2002
01-20-2005
06-11-Z005
(TAX CREDITS):
RECEIPT
NUNBER
52,722.85
CD001~5~
CD002066
REFUND
ZF PAID AFTER THIS DATE, SEE REVERSE
SIDE FOR CALCULATION OF ADDITIONAL 'rNTEREST.
( ZF TOTAL DUE ZS LESS THAN
NO PAYNENT ZS REQUIRED.
ZF TOTAL DUE ZS REFLECTED AS A "CREDIT' (CR},
DISCOUNT (+)
INTEREST/PEN PAID (-)
.00
~12.9Z-
.00
AHOUNT PAID
19,000.00
15,167.11
1,051.56-
TOTAL TAX CREDIT 52,712.85
BALANCE OF TAX DUI .00
INTEREST AND PEN. .00
TOTAL DUE .00
YOU HAY BE DUE A REFUND. SEE REVERSE S'rDE OF TN'rS FORN FOR INSTRUCTIONS. )
PAYMENT:
Detach the top portion of this Notice and submit aith your payment made payable to the name and address
printed on the reverse side.
-- If RESIDENT OECEOENT make check or money order payabXe to: REGISTER OF #ILLS, AGENT.
-- If NON-RESIDENT DECEDENT make check or money order payable to: COMMONNEALTH OF PENNSYLVANIA.
REFUND (CA): A refund of a tax credit, which was not requested on the Tax Return, may be requested by coapXsting an
"Application for Refund of Pennsylvania Inheritance and Estate Tax" (REV-1515). Applications are available at
the Office of the Register of Wills, any of the 13 Revenue District Offices or from the Department's Zq-hour
answering service for forms ordering: [-SOO-361-ZOSO; services for taxpayers with special hearing and / or
speaking needs: [-80O-qq7-30ZO (TT only).
REPLY TO: Questions regarding errors contained on this notice should bo addressed to: PA Department of Revenue, Bureau
of IndividuaX Taxes, ATTN: Post Assessment Review Unit, Dept. 18060[, Harrisburg, PA [7128-060[, phone
(7[7) 787-6S05.
DISCOUNT: If any tax due is paid within three (3) calendar months after the dacsdsnt's death, a five percent (SI) discount
of the tax paid is aX[owed.
PENALTY: The 1SI tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not
paid before January iD, 1996, the first day after the end of the tax amnesty period.
INTEREST:
Interest is charged beginning with first day of delinquency, or nine (9) months and one (1) day from the date of
death, to the date of payment. Taxes which became deXinquent before January 1, 1981 bear interest at the rate of
six (61) percent par annum calculated at a daily rate of .00016~. All taxes which became delinquent on and after
January 1, 19DZ will bear interest at s rate which wiIX vary from calendar year to calendar year with that rate
announced by the PA Department of Revenue. The applicable interest rates for 1981 through ZOO3 are:
Interest Daily Interest Daily Interest Daily
Rate Factor Year Rate Factor Year Rate Factor
1981 ZOZ .O005qB 1987 9Z .000147 1999 71 .000191
1983 161 .000438 1988-1991 1XZ .O003OX ZOOO 8Z .000119
198q 111 .000301 1992 9X .000Z~7 Z001 gX .0002q7
1985 132 .000356 1993-1994 7Z .000192 ZOOZ 62 .00016q
[986 lOX .00017~ 1995-1998 9Z .O00Zq7 2003 51 .000137
--Interest is calculated as fol[ows:
INTEREST = BALANCE OF TAX UNPATD X NUNBER OF DAYS DEL/N~UENT X DAILY INTEREST FACTOR
--Any Notice issued after the tax becomes delinquent mill reflect an interest calculation to fifteen (15) days
beyond the date of the assessment. If payment is made after the interest computation date shown on the
Notice, additional interest must be calculated.
PLEASE FILE THIS REPORT WITHIN TWO YEARS OF DATE OF DEATH REGARDLESS OF
THE STATUS OF THE ESTATE. IF ESTATE IS NOT COMPLETED, FILE FORM 6.12 YEARLY
UNTIL COMPLETION.
Name of Decedent:
Date of Death:
Will No.:
STATUS REPORT UNDER RULE 6.12
Frank M. Magel
October 20, 2001
21-02-0216
Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with
respect to completion of the administration of the above-captioned estate:
State whether administration of the estate is complete: Yes
If the answer is No, state when the personal representative reasonably believes that the
administration will be complete: N/A
If the answer to No. 1 is yes, state the following:
A. Did the personal representative file a final account with the court? No
Bo
Co
Do
The separate Orphans' Court No. (if any) for the personal representative's
account is: None
Did the personal representative state an account informally to the parties in
interest? Yes
Copies of receipts, releases, joinders and approvals of formal or informal
accounts may be filed with the Clerk of Orphans' Court and may be attached to
this report.
Date: October ~, 2003
~rraig atch, Esquire
!6361
, HALBRUNER & HATCH, P.C.
1013 Mumma Road, Suite 100
Lemoyne, PA 17043
(717) 731-9600
Capacity: Counsel for Personal Representative
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DIVISION
DEPT. 280601
HARRISBURG, PA 17128-0601
FED20 A]I :21
CRAIG A HATCH ESQ
GATES,..ET~L
3
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOTICE OF DETERMINATION AND
ASSESSMENT OF PENNSYLVANIA
ESTATE TAX BASED ON FEDERAL
CLOSING LETTER
DATE 02-2q-200q
ESTATE OF MAGEL
DATE OF DEATH 10-20-2001
FILE NUMBER 21 02-0216
COUNTY CUMBERLAND
ACN 202
Amoun~ Reml ~ed
FRANK M
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUNBERLAND CO COURT HOUSE
CARLISLE, PA 17015
NOTE: To insure proper credi~ ~o your account, subei~ ~he upper portion of ~his fore w~h your ~ex payment.
CUT ALONG THZS LINE I~ RETAIN LOWER PORTION FOR YOUR FILES ~
REV-736 EX AFP (01-02) #~ NOTICE OF DETERMINATION AND ASSESSMENT
OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL CLOSING LETTER #.
ESTATE OF MAGEL FRANK M FILE N0.21 02-0216 ACN 202 DATE 02-2q-200~
ESTATE TAX DETERHZNATZON
19,30~.3q
1. Credit For State Death Taxes as Verified
Z. Pennsylvania Inheritance Tax Assessed
(Excluding Discount and/or Interest)
32,722.83
.00
Inheritance Tax Assessed by Other States
or Territories of the Un/ted States
(Excluding Discount and/or Interest)
Total Inheritance Tax Assessed
5. Pennsylvania Estate Tax Due
6. Amount of Pennsylvania Estate Tax Previously Assessed
Based on Federal Estate Tax Return
7. Additional Pennsylvania Estate Tax Due
TAX CREDITS:
PAYMENT
DATE
RECEIPT
NUMBER
DISCOUNT (+)
INTEREST/PEN PAID (-
AMOUNT PAID
TOTAL TAX CREDIT
BALANCE OF TAX DUE
INTEREST AND PEN.
TOTAL DUE
mZF PAID AFTER TH/S DATE, SEE REVERSE SIDE (IF TOTAL DUE ZS LES~ THAN $1, NO PAYMENT ZS REQUIRED
FOR CALCULATION OF ADDITIONAL /NTEREST. ZF TOTAL DUE 1S REFLECTED AS A "CREDIT" (CR), YOU HAY BE
DUE A REFUND. SEE REVERSE S~DE OF THIS FORM FOR INSTRUCTIONS.)
SZ~72Z.85
.00
.00
.00
.00
.00
.00
.00
PURPOSE OF
NOTICE:
PAYMENT:
To fuXfi11 the requirements of Section ZX40 of the Inheritance and Estate Tax Act, Act 13 of ZOO0. (71 P.S.
Section 9140).
Detach the top portion of this Notice and submit aith your payment to the Register of Nills printed on the
reverse 'side.
-- Make check or money order payable to: REGISTER OF HILLS, AGENT.
REFUND (CR): A refund of a tax credit may be requested by completing an "Application for Refund of Pennsylvania
Inheritance and Estate Tax" (REV-1313). Applications are available et the Office of the Register of Nills,
any of the 15 Revenue Oistrict Offices or from the Department's Z4-hour anseering service for fores ordering:
1-800-361-Z050; services for taxpayers aith special hearing and/or speaking needs: 1-B00-447-~010 (TT only).
OBJECTIONS: Any party in interest not satisfied with the assessment of tax as sheen on this notice may object within
sixty (603 days of receipt of this Notice by:
--written protest to the PA Department of Revenue, Board of Appeals, Dept. 281011, Harrisburg, PA 17128-1021,
--electing to have the matter determined at audit of the personal representative, OR
--appeal to the Orphans' Court
ADMIN-
ISTRATIVE
CORRECTIONS:
PENALTY:
INTEREST:
OR
Factual errors discovered on this assessment should be addressed in writing to: PA Department of Revenue,
Bureau of Individual Taxes, ATTN: Post Assessment Review Unit, Dept. 180601, Harrisburg, PA [7128-0601,
Phone (717) 787-6505. See page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident
Decedent" (REV-1501) far an explanation of administratively correctable errors.
The 15X tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not
paid before January lB, 1996, the first day after the end of the tax amnesty period. This non-participation
penalty is appealable in the same manner and in the the same time period as you would appeal the tax and interest
that has been assessed as indicated an this notice.
Additional Pennsylvania Estate Tax assessed as a result of a change on the Federal Estate Tax closing
letter becomes delinquent at the expiration of one ([) month from the date the final notice of the increase
in Federal Estate Tax is received.
Taxes which became delinquent before January I, [982 bear interest at the rate of six (61) percent per annum
calculated at a daily rate of .000164. A11 taxes which became delinquent an or after January 1, 19BT will bear
interest at a rate which will vary from calendar year to calendar year with that rate announced by the PA
Department of Revenue. The applicable interest rates for [982 through ZOOZ ara:
Year Interest Rate gaily Interest Factor
Year Interest Rate gaily Interest Factor ~
1982 gOT .000548 1992 91 .000247
1983 161 .000458 1993-1994 7X .000191
1984 11Z .000301 1995-1998 9Z .000247
1985 132 .000356 1999 7Z .000192
1986 102 .000174 ZOO0 8Z .000219
1987 9Z .000Z47 ZOOX 9Z .000147
1988-1991 11Z .O00~O1 ZOOT 6Z .000164
--Interest is calculated as follows:
/NTEREST = BALANCE OF TAX UNPA'rD X NUNBER OF DAYS DELZNI~UENT X DA'rLY 'rNTEREST FACTOR
--Any Notice issued after the tax becomes delinquent wil[ reflect an interest calculation to fifteen (153 days
beyond the date of the assessment. If payment is made after the interest computation date shown on the
Notice, additional interest must be calculated.