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Home My WebLink About07-27-09 JUL 2 3 2009 ~ IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION In Re: First and Final Accounting of the May M. Moore Five-Year No. 13 8 of 2007 Charitable Lead Annuity Trust ORDER OF COURT NOW on this ~,~~ day of , 2009, the Court, having reviewed the foregoing Settlement Agreement and being fully advised in the premises, FINDS that the relief requested in the Settlement Agreement is appropriate. The Court therefore ORDERS that the settlement is approved and that all of the Objections to the Accounting and the Petition to Remove Trustee which have been filed in the above captioned matter are dismissed with prejudice. IT IS SO ORDERED. N ~ ~~ ~ ~ - ) ° i r~ ; `; i~ Y7 I, ~ ] " T, rn , ~ '' , ~/ r.j G ; 1 J 1 ^ J l /~ ` `' . _ ~n ~ fj , ~ ) ~ __ W . dD By the Court, ~ ; IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION In Re: First and Final Accounting of the May M. Moore Five-Year No. 138 of 2007 c Charitable Lead Annuity Trust C ~ ~.. c rn~ SETTLEMENT AGREEMENT ~~ ~ . ~-~ ->cn c~» - COME NOW Petitioners Amanda Reed and Araminta Finn, who are the sor 3siduary -~~ , ~ Beneficiaries and Trust Protectors of the May M. Moore Five-Year, Ten-Year, and'~ifteen-Year Charitable Lead Annuity Trusts, along with Farmers & Merchants Trust Company of Chambersburg ("F&M Trust Company"), who is the Successor Trustee of the Trusts, being the successor by merger to Community Trust Company, who was the original Trustee, as well as Keeler & Danner Financial Services, LLP and the Commonwealth of Pennsylvania, and for their Settlement Agreement in the above captioned matter state to the Court as follows: 1. Judge Oler has previously ruled on all other matters in this case. 2. On February 9, 2007, the Trustee filed a First and Final Account for the May M. Moore Five-Year Charitable Lead Annuity Trust. 3. Thereafter, the Eiesiduary Beneficiaries, Amanda Reed and Araminta Finn, filed Objections to the Accounting, and later filed a Petition for Removal of Trustee for Waste and Mismanagement of Trust. 4. Although the Trustee filed an Answer to that Petition, in the meantime, the parties agreed to hold $51,800.00 of disputed fees in escrow pending the resolution of the litigation. 5. In November, 2008, the original Trustee, Community Trust Company, was acquired by merger by the Successor Trustee, F&M Trust Company. 6. The parties have now resolved their differences, such that F&M Trust Company will continue to serve as the Trustee for all three (3) May M. Moore Charitable Lead Annuity Trusts, pursuant to the terms of those trust documents, F&M Trust Company's usual operating procedures and an annual fee equal to one hundred (100) basis points, billed and payable in accordance with F&M Trust Company's usual operating procedures. 7. The Petitioners have agreed to withdraw their Objections to the Accounting for the Five-Year Charitable Lead Annuity Trust, which Accounting will be confirmed, and have agreed to dismiss their pending Petition for Removal of Trustee, and to further discontinue all litigation. 8. The parties have agreed to split the fees remaining in escrow for the Five-Year Charitable Lead Annuity Trust such that F&M Trust Company shall receive $7,500.00, Amanda Reed shall receive $22,150.00, and Araminta Finn shall receive $22,150.00. The Commonwealth of Pennsylvania has reviewed and approved this settlement on behalf of the charitable beneficiaries. WHEREFORE, the parties respectfully request that the Court enter an Order approving this settlement and dismissing with prejudice the pending Objections to Accounting and the pending Petition to Remove Trustee. Respectfully submitted, Date: 7/ 1 S l G ~( `~_J ~~" ~.~ ~ ~ ~~-.. James M. Stein, Attorney for Petitioners Dick, Stein, Schemel, Wine & Frey, LLP 13 West Main Street, Suite 210 Waynesboro, Pennsylvania 17268 (717) 762-1160 PA Bar No. 84026 -2- VERIFICATION I verify that the statements made in the foregoing pleading are true and correct to the best of my knowledge, information and belief. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S., Section 4904, relating to unsworn falsification to authorities. Date: Date: Date: ~~ ~ ~~ Date: Amanda Reed, Petitioner Araminta Finn, Petitioner T eterson, Persona Investment Counselor & Market Manager, on behalf of Farmers & Merchants Trust Company of Chambersburg, Successor Trustee Dale E. Danner on behalf of Keeler & Danner Financial Services, LLP -3- .~~, VERIFICATION I verify that the statements made in the foregoing pleading are true and correct to the best of my knowledge, information and belief. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S., Section 4904, relating to unsworn falsification to authorities. Date: ~ - f ~ ~-- d ~~ ^ Amanda Reed, Petitioner Date: Date: Araminta Finn, Petitioner Tom L. Peterson, Personal Investment Counselor & Market Manager, on behalf of Farmers & Merchants Trust Company of Chambersburg, Successor Trustee Date: Michael T. Foerster, ev General Date: Dale E. Danner on behalf of Keeler & Danner Financial Services, LLP -3- VERIFICATION I verify that the statements made in the foregoing pleading are true and correct to the best of my knowledge, information and belief. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S., Section 4904, relating to unsworn falsification to authorities. Date: Amanda Reed, Petitioner Date: M~ ~~~ ~~ ~ ~. Araminta Finn, Petitio Date: Date: Tom L. Peterson, Personal Investment Counselor & Market Manager, on behalf of Farmers & Merchants Trust CompanyofChambersburg,successor Trustee Attorney General Date: Dale E. Danner on behalf of Keeler & Danner Financial Services, LLP -3- .r.. VERIFICATION I verify that the statements made in the foregoing pleading are true and correct to the best of my knowledge, information and belief. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S., Section 4904, relating to unsworn falsification to authorities. Date: Date: Amanda Reed, Petitioner Araminta Finn, Petitioner Date: Tom L. Peterson, Personal Investment Counselor & Market Manager, on behalf of Farmers & Merchants Trust Company of Chambersburg, Successor Trustee Date: MichaeTT.~e , uty Attorney General ~-~'~~ Date: :$S Z G t9 ~ ~~ ~ ~~r~-+-~.~.. Dale E. Danner cn behalf of Keeler & Danner Financia': Services, LLP -3-