HomeMy WebLinkAbout03-0750
PETITION FOR PROBATE and GRANT OF LETTERS
Estate of (;aald;ne m. P:phey No. c::J/...Oa- ?OO
also known as To:
Re~ister of Wills for the
, Deceased. County of CUM b, r I o..nd in the
Social Security No. .J.b Lf- tJ/ -.sL{~Z Commonwealth of Pennsylvania
The petition of the undersigned respectfully represents that:
Your petitioner(s), who is/are 18 years of age or older an the executorS named
in the last will of the above decedent, dated Oc.ll:Jkr .5' , y(.2doa
and codicil(s) dated
(state relevant circumstances, e.g. renunciation, death of executor, etc.)
Oecendent was domiciled at death in Cu..m be..,.-!CLncJ County, Pennsylvania, with
e.r. lastfa~ilYOl~_E!:.incipalr.eYdenceat S P;fhe.rJ...bYlt!.; fYlecha.n,'csblArd
5111/e r 41h1
,
(list street, number and muncipality)
ears of a e, died .3 , vf-2003 ,
at Holi r 'h f.l. r. #I IE
Except as follows, decedent did not marry, was not divorced and did not have a child born or adopted
after execution of the will offered for probate; was nOI the victim of a killing and was never adjudicated
incompetent:
Decendent at death owned property with estimated values as follows:
(If domiciled in Pa.) All personal property /~ PtJP. ao
(If not domiciled in Pa.) Personal property in Pennsylvania
(If not domiciled in Pa.) Personal property in County
Value of real estate in Pennsylvania I S1?"t:',I/P.,a
situated as follows: ...5 IJ,' r I-Ilne .
SI'e/, I 7.i"'a-i?-"h '
an- IJ,/'pJI'P#, h:> ~ /d~ M1 dl!~ed'U1h.
WHEREFORE, petitioner(s) respectfully uest(s) the probate of the last will and codicil(s)
presented herewith and the grant of letters ftU'
ary; administration c. La.; administration d. b.n.c.La.)
theron.
~ iJJ ~
t dz / Ii ,/ .'
H ~ - l. WoK. J ~.,f ~h,r. .
-g .g "PI f.M(1y Llthl /"2 Ho/9-'. L411e
3~ mecJUJJ1,cShu,,(/-. fl/1 17oS'D Me{!hanlt:sburd; /lA- 170.$0
<lJ '-
~ 0
;;:;
c:
OJ)
Vi
OATH OF PERSONAL REPRESENTATIVE
COMMONWEALTH OF PENNSYLVANIA I S"
COUNTY OF ~m GE f!..LfMJ]) J ~
The petitioner(s) above-na~l1ed swear(s) or affirm(s) that the statements in the foregoing petition are
true and correct to the best of the knowledge and belief of petitioner(s) an that as personal represen-
tative(s) of the above decedent petitioner(s) will well and t y adminis e a according to law.
and ~
<>Q'
:::s
l:l
...
l:::
~
~
No. ~/- LJ.E- 7~CJ
Estate ~1L.ff,,,,-/~;,) ~ WkJ . Deceased
DECREE OF PROBATE AND GRANT OF LETTERS
AND NOW /~ ~..B, in consideration of the petition on
the reverse side ereof, satisfactory proof having <!fresented bef~e me,
IT IS DECREED that the instrument(s) dated ~ k.J \. ~. .....,~b
described therein be admitted to probate and filed of record as the last will of
G~R.~/d.ln~ rn 'Hohe-R ,
~ '
and Letters ;'\p.,'m,,~p'R-<-j
are hereby granted to UAlDI1 L J-It'"Jke. JtiND ~/)"Id KrFi}he-,IL
ib-?",,/ /?;7/J/.6 ~ 4/L/Y
Register of w~ ./J.u ~
FEES ~~~~JIt
Probate, Letters, Etc. ........, $ / / 0-: 00
Short Certificates( )...,...... $ 1...5 cP AITORNEY (Sup. Ct. 1.0. No.) 3~/3
~iiGit~~ron ,.,............. $ ~.oe> (i, C/tJtI.ser A'~, /}J~dtln/(! S/;U'I 111 /70$:"S-
~ $ ~t?,c:x> ADDRESS
TOTAL _ $/~,g 7/7- 7~~ -t:J2tJ7
Filed . ,~~P.1.1;>~,~. .I.~. .~t;J.3"'"
PHONE
(.-'"
-'
~._,..
-~ -
~ 1- 0$- 7.5b
REGISTER OF WILLS OF C Lt m t3Et<L../INJ; COUNTY
OATH OF SUBSCRIBING WITNESS
.
codicil
(each) a subscribing witness to the will presented herewith, (each) being duly qualified according to
law, depose(s) and say(s) that present and saw
,
the testat , sign the same and that signed as a witness at the
request of testat_ in h presence and (in the presence of each other) (in the presence of the
other subscribing witness(es)).
Sworn to or affirmed and subscribed before
me this day of (Name)
19_
. .
(Address)
Register
"..- (Name)
....-
(Address)
--
--....
REGISTER OF WILLS OF c. u. m e er<!LIMll) COUNTY
OATH OF NON-SUBSCRIBING WITNESS
---'-t Ir/]) If L. 1ft) I<E ,
. (eaeh) a subscriber hereto, ~) being duly qualified according to law, depose(s) and say(s) that
SHE IS familiar with the signature of GE"/?..?-t..tJ/lVc /11. /J/PHe<,
c.uJ~~a .
testat~ of (OB@ of tA@ EYBserieiBg witaesses ter the will presented herewith and
codicil
that Site believes the signature on the will is in the handwriting of
G E}:(I/-[JJ I./tIE /1/. p/Pfle1(
to the best of 1/ t::~ knowledge and belief.
Sworn to or affirmed and subscribed before
me this //7# day of If L. NfJ/(E (Name)
S~rl!i"_~~ p3 I J.{()t.Ly L.+^"E: /11eMlhlles8u./tG-,A4 J 7f)S'"o
llY-P/AI"-,.J.o; (Jrh to;, ,~hLy (Address)
~ fte<"q"",,' ~ Register
(Name)
(Address)
~/-O.a.. ?~
REGISTER OF WILLS OF CLan t2JEte..LlI-lIlb COUNTY
OATH OF SUBSCRIBING WITNESS
C/!,t/l LEs E. S/f I €LOS 7iL
,
eo.iicil
-(each) a subscribing witness to the will presented herewith, (each) being duly qualified according to
law, depose(s) and say(s) that liEF /f/H present and saw
GG'I{Al-l>/III€' HI, jl /,d HE7(
,
the testatf'ik , sign the same and that he signed as a witness at the
request of testat~ in her presence and (in the rm:sence sf eae:h other) (in the fJre3enc' of the
oHtel'-snb:,l,;libing wnness(es)), 7 / ~ "'/..
Sworn to or affirmed and subscribed before X ~ cc:~# <f!f) -
me this 117~/ day of o..h.,./~.5 E. Sh"e~miF"
5~T_.H?he~ yI~p3 (; C/OkSer tfd, lJI~dlt,,/csbJ(r; I 1# /7t>sr
~d") /7} IJ~ .h?~, 4l<7y (Address)
::..._~~~ister
.. (Nam~
-- (Address)
i
REGISTER OF WILLS OF COUNTY
OATH OF NON-SUBSCRIBING WITNESS
,
(each) a subscriber hereto, (each) being duly qualified according to law, depose(s) and say(s) that
familiar with the signature of ,
codicil
testat_ of (one of the subscribing witnesses to) the will presented herewith and
codicil
that believes the signature on the will is in the handwriting of
to the best of knowledge and belief.
Sworn to or affirmed and subscribed before
me this day of (Name)
19_
(Address)
Register
(Name)
(Address)
RACE. Ame/ican lnOlan. Biack, White, .Ie
(S~II~'
While
... 10.
DECEDENT'S USUAL OCCltPJIatON 'NAS DECEDENT EVER IN MAflITAL STRUS. Married SURVIVING SPOUSE
(~~~ngofaJ:':1o~~:T U.S. ARMED FORCES? Nevw U..ried. WIdowed. (1rIo\'IIe,glwern4.aenf1.ur,el
Own Home Yoo 0 No []: 1>__1
,. Homemaker ,. Widowed ...
DECEDENT'S WAILING ADDRESS (S&reel. Cltyllbwn. Stale, Zip Code) DECEDENT'S Pennsylvania 17c.CJ....__ln Silver Spring Twp.
5 Pipher Lane ACTUAL 17.. Sial. ... ....
RESIDENCE -
Mechanicsburg, Pennsylvania 170 inatlucIiont ....In.
--I Cumberland _"" 17d.O ~~=oI
17b. Count Cif\llboro
Herman M. Geiling MOTHER'S NAME (FiI.. Middle, Maiden SiM'name) Ora Duncan
...
Linda L. Hoke INFORMANT'S MAIUNO ADOAES8(Str8l" CityIbwn, Slate. Zip Code)
501 Holly Lane Mechanicsburg, Pa. 17050
PlACE OF . Name of Cemeeery, CremMOry lOCRION. ClfyfTown, Stale, Zip Code
'" ""'"' .....
~ Sep 5, 2003 Silver Spring Church Cemetery Mechanicsburg, Pennsylvania
" 21. 1.
en LICENSE NUMBER NAME AND ADDRESS OF FACtUTY
< FD-012662-L Myers Funeral Home, Inc. 37 East Main Street Mechanicsburg. Pa 17055
< UCENSE NUMBER DATE SIGNED
lMurllh, Day, Yed/)
.... ,...
DATE PRONOUNCED DEAD !Mond1, Day, Year) M8 CASE REFERRED 10 MEWl EXAMINER/CORONER? '
1:52 AM August 31, 2003 Yoo Nol]
... ,.. H.
27. PART I: Enter IhtI d........1njurIM Of compIk:atlons wNch cauaed 1M death. Do not ent... the mode 0' dying, such as cardiac or respiratory arrest. ahock Of hMl1fallure. ,Approaim.. PART II: OthBf Sigllllicalll condlliOIlS contributIng 10 deMh, but
list onty on. cause on ..ch line. : int...... betwHn not resulting in the un[)$rly"'IQ cause gi~.n In PA.RT I
lonl8t and dealt!
I
..~ Hypgvglemic Shock i HTN
CUE 10 (OA AS A CONSEOUEI'ICE Of); ,
Massive Hemorrha e I
b.
DUE 10 (OR AS A CONSEQUENCE OF):
c ----.-.-.- ~ ~._-,----
DUE 10 (OR AS A CONSEQUENCE OF):
.
WERE AUlOPSY FIN NO MANNER OF DEArH DATE OF INJURY
A\M,ILABLE PRtOA 10 (Montn, Day, 'AlaI)
COMPLETION C'JF CAUSE I!'
OF DEATH? "'u<ol --
...0 NoD -. 0 Pending Inve81igllion
Su_ O. Cou6d not be delerminod
,... ..... H.
CEATIFtER (Check or-dy one)
.CERTIFYIHO PHVStClAN (PtlVS'C1llIl certifying CllU$8 01 dee1tl when another physician has pronounced dealt1 and compl6led Hem 23) 0 Coroner
To ItM beet of my knowledge, diNllhOOCUl'ra4c1uekl..GaUM(.)....InSftnW..etated.....................................................
DATE SIGNED tMonll1, Day, \'ear)
iJ 'PfIONOUHCINQ AND CERTIFYING PHY8tCIAN (Ph)'Sicilln both pronouncing dellh and cet1ilVlOg 10 cause 01 death) 0 ,. I.. Au ust 2, 2003
To....bM'of""~......ODCwnd..the.........., .....,.... anct... 10"'''''''.. and m...".,.. SlatM.. ........................
~ NAME. AND AOORESS OF PERSON WHO COMPlETED CAUSE OF DEATH
'" (hem 2n Type or Print Michael L. Norris, Coroner
0 'IIEDlCAL ~EIlICOfIOIWI 6375 Basehore Road, Suite #1
On the...... of ..MIIndon MdI. InvHtlglltlon. In my opinion. de. occurred.. the lime. dill.. end "ce. and due to the ceuM(.)..... ~ ...
~ manner...................... ........... .............. ... ........,.......................................... ..... Mechanicsburg, Pa. 17050
< 3h.
z AEGIS DArE FILED (Moneh. OIly, Yeer)
611 (1~lt,J
...
_._._~--_.~*_.- - -_._-_._~ ..--'-.--.--
~/-os. ?6~
:j...,
-
. ,
C.J
:'.':.
~
,-
':L
, ,
C......')
;',
? -'
.." "
.,.. ~.....
...
LAST WILL AND TESTAMENT OF GERALDINE M. PIPHER
I, GERALDINE M. PIPHER, an unremarried widow of the Township of Silver Spring,
Cumberland County, Pennsylvania, being of sound and disposing mind, memory and
understanding, do make, publish and declare this my Last Will and Testament, hereby revoking and
making void any and all prior Wills by me at any time heretofore made.
1.
I direct the payment of all my just debts and funeral expenses as soon after my decease as
the same can conveniently be done.
2.
All the rest, residue and remainder of my Estate, real, personal and mixed, whatsoever and
wheresoever situate, I direct to be divided and distributed as follows:
A Twenty (20%) per cent thereof to my daughter, LINDA L. HOKE. In the event
that she fails to survive me, then her share shall go to her three (3) children, to wit: GARY J.
HOKE, DEBRA J. HOKE, and AMY L. HOKE, in equal shares, Der stimes. In the event one or
more of the said grandchildren shall predecease and not be survived by issue, then that grandchild's
interest shall lapse and shall be distributed proportionally to the other grandchildren named in this
subparagraph.
B. Twenty (20%) per cent thereof to my son, RONALD K. PIPHER. In the event
that he fails to survive me, then his share shall go to his children, to wit: KIl\1BERL Y MARTIN,
LISA JO BARRIOS, and KRISTY PIPHER RICHMOND, in equal shares, per stirpes. In the
event one or more of the said grandchildren shall predecease me and not be survived by issue, then
that grandchild's interest shall lapse and shall be distributed proportionally to the other
grandchildren named in this subparagraph.
C. Sixty (60%) per cent thereof to be divided equally amongst the six (6) above-named
grandchildren, Der stimes. In the event one or more of the said grandchildren shall predecease me
and not be survived by issue, then that grandchild's interest shall lapse and shall be distributed
proportionally to all the other grandchildren named in this final subparagraph.
3.
All federal, state, and other death taxes payable because of my death, with respect to the
property forming my gross estate for tax purposes, whether or not passing under this Will,
including any interest or penalty imposed thereon, shall be considered an expense of the
administration of my estate. All such taxes on present or future interests shall be paid at such time
as my Executor, hereinafter named, may think proper, regardless of whether such taxes are then
due.
/k~~ fr;, ~
. ...
4.
I nominate, constitute and appoint my daughter, LINDA L. HOKE, and my son,
RONALD K. PIPHER, to be the Co-Executors of this my Last Will and Testament. It is my
desire that two (2) persons always serve together as Co-Executors. In the event that either or both
of my said Co-Executors are or shall become unable or unwilling to serve in such capacity, then I
nominate and appoint the following persons, in the following order, as alternates: KIl\1BERL Y
MARTIN, then GARY J. HOKE. I further direct that they shall not be required to file bond or
other security in the Office of the Register of Wills for the purpose of administering my Estate.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this C~ day of
O(!/".""- .A.D.2~ ~'
. I /tJ/U (SEAL)
. GERALDINE M. PIP?1.l:R
Signed, sealed, published and declared by the above-named GERALDINE M. PIPHER, as
and for her Last Will and Testament, in the presence of us, who at her request and in her presence,
and in the presence of each other, have hereunto subscribed our names as witnesses.
~dL/A- ~ JJ~~.
_/
~~
2
-'\
,0'.."
.'-
---"
-+"
. ,
~
'-L
i
LO
- LO
0
(/) r--
Q~ ,....
....:5"0<
W 11la..:
_ . 0
:E:!cca:ci'
(/):>-...a:
. w Q) :::l
WZ(/)/I)
(/)a:SC/)
wo-o
....1:;0-
a: <<<0 Z
cc <
:E: :c
o 0
w
~
...
,
, -
.... . "'
.
- -
r
i
i
- "" r i
i
i
~
CERTIFICATION OF NOTICE UNDER RULE 5.6(a)
Name of Decedent: Geraldine M. Pipher
Date of Death: August 31, 2003
Will No. Admin. No. 21-03-00750
TO THE REGISTER:
I certify that notice of beneficial interest 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
October 3, 2003:
Name Address
Linda L. Hoke 501 Holly Lane, Mechanicsburg, PA 17050
Gary 1. Hoke 503 Holly Lane, Mechanicsburg, PA 17050
Debra 1. Hoke 417 Hogestown Road, Mechanicsburg, PA 17050
Amy L. Hoke 417 Hogestown Road, Mechanicsburg, PA 17050
Ronald K, Pipher 102 Holly Lane, Mechanicsburg, PA 17050
Kimberly Martin 105 Hogestown Road, Mechanicsburg, PA 17050
Lisa 10 Barrios 6 Pipher Lane, Mechanicsburg, P A 17050
Kristy Pipher Richmond 1773 Kings Arms Court, New Cumberland, PA 17070
Notice has now been given to all persons entitled thereto under Rule 5,6(a) except
Date:October 3,2003
~p~~
CHARLES E. SHIELDS, III
6 Clouser Road
Mechanicsburg, P A 17055
Telephone: (717) 766-0209
r- Counsel for Personal Representative
......-~
,
CHARLES E. SHIELDS, III
ATTORNEY-AT-LAW
6 CLOUSER ROAD
Corner ofTrindle and Clouser Roads
MECHANICSBURG, PA 17055
GEORGE M. HOUCK TELEPHONE (717) 766-0209
(1912-1991) FAX (717) 795-7473
November 25, 2003
Register of Wills
Cumberland County Court House
1 Court Square
Carlisle, P A 17013
Re: Estate of Geraldine Pipher
File # 21-03-0750
Dear Ann:
Please find enclosed check # 1013 in the amount of $28, 500.00 on account for the
inheritance tax for the above estate.
Thank you for your assistance with this matter.
Very truly yours,
~~~
Charles E. Shields, III
CES:mmh
Encs.
COMMONWEALTH OF PENNSYLVANIA REV-1162 EX(11-96)
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPT. 280601
HARRISBURG, PA 17128-0601
PENNSYLVANIA
RECEIVED FROM: INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
NO. CD 003280
SHIELDS CHARLES E III ESQUIRE
6 CLOUSER ROAD
MECHANICSBURG, PA 17055
ACN
ASSESSMENT AMOUNT
CONTROL
NUMBER
-.--.--- fold ---------- --------
101 I $28,500.00
ESTATE INFORMATION: SSN: 204-01-5442 I
FILE NUMBER: 2103-0750 I
DECEDENT NAME: PIPHER GERALDINE M I
DATE OF PAYMENT: 11/25/2003 I
POSTMARK DATE: 11/24/2003 I
COUNTY: CUMBERLAND I
DATE OF DEATH: 08/31/2003 I
I
TOTAL AMOUNT PAID: $28,500.00
REMARKS: RONALD PIPHER & LINDA HOKE
C/O CHARLES E SHIELDS III ESQ
CHECK# 1013
INITIALS: VZ
SEAL RECEIVED BY: DONNA M. OTTO
DEPUTY REGISTER OF WILLS
REGISTER OF WILLS
r J' un "ri~~(~,:.:)::t~~rT6 -
Charles E. Shields III ' . "~_.,,J.U.J_., J.t,
Attorney-At-Law I
6 Clouser Road
Mechanicsburg, PA 17055
J ]]2 2 L J, [] 1]]04 8T3b ]610
Register oj 'Nill~ Offlce
Cumberland County Court House
One Cou:1house Square
Carlisle, ?;;nnsylvanil 17013
;. /- ,'J ..750
'-.:......
c'
,
t ~ (~ l :3 i : i 3:2 ~:; C,2 11111i11l ill'IIIIIII..1 illlll. 1111111 1,111 i ill. ill I.
. --
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPARTMENT 280601
HARRISBURG, PA 17128-0601
Telephone
May 5, 2004 CJ4 1 I ,- ,~ . -~) (717) 787-3930
FAX (717) 772-0412
Charles E. Shields, III
Attorney At Law . I ~
E) Clouser Road
Mechanicsburg, PA 17055
Re: Estate of Geraldine M. Pipher
File Number 2103-0750
Dear Sir/Madam:
This is in response to your request for an extension of time to file the Inheritance Tax Return for
the above estate.
In accordance with Section 2136 (d) of the Inheritance and Estate Tax Act of 1995, the time for
filing the return is extended for an additional period of six months. This extension will avoid the
imposition of a penalty for failure to make a timely return. However, it does not prevent interest from
accruing on any tax remaining unpaid after the delinquent date.
The return must be filed with the Register of Wills on or before 11/31/04. Because Section 2136
(d) of the 1995 Act allows for only one extra period of six (6) months, no additional extension(s) will be
granted that would exceed the maximum time permitted.
--'
....~,.......--l /'/
~ Since~y,~___/-//.-'
(if .,{/ .,'~ all:':.- /:;;t~::-l"</':-'~/
~ f,-' .~ -< / (, ...'. , . I \
/,,_~;,~" .-#~'-~ ,It' ,:,/ ,/ )
Claudia Maffei, S~upefvisor
Document Processing Unit
Inheritance Tax Division
CHARLES E. SHIELDS, III
ATTORNEY-AT-LAW
6 CLOUSER ROAD
Corner ofTrind/e and Clouser Roads
MECHANICSBURG. PA 17055
GEORGE M. HOUCK TELEPHONE (717) 766-0209
(1912-1991) FAX (717) 795-7473
July 2, 2004
Ann Capozzi
Register of Wills Office
Cumberland County Court House
One Courthouse Square
Carlisle, Pennsylvania 17013
In Re: Estate of Geraldine M. Pipher
File # 21-03-0750
Dear Ann:
Please find enclosed check #2070 in the amount of $30,000 to be credited to the account of
the Estate of Geraldine M. Pipher.
Thank you.
Charles E. Shields, III
CES:slk
Enclosure
~ .-...,
52
L
c=
,-
I
.....~..
'.J
-.."
-'-
--
~
\r
COMMONWEALTH OF PENNSYLVANIA REV-1162 EX( 11-96)
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPT. 2B0601
HARRISBURG, PA 17128-0601
PENNSYLVANIA
RECEIVED FROM: INHERITANCE AND EST A TE TAX
OFFICIAL RECEIPT
NO. CD 004122
SHIELDS CHARLES E "'
6 CLOUSER ROAD
MECHANICSBURG, PA 17055
ACN
ASSESSMENT AMOUNT
CONTROL
NUMBER
____n__ fold ---------- --------
101 I $30,000.00
ESTATE INFORMATION: SSN: 204-01-5442 I
FILE NUMBER: 2103-0750 I
DECEDENT NAME: PIPHER GERALDINE M I
DATE OF PAYMENT: 07/06/2004 I
POSTMARK DATE: 07/02/2004 I
COUNTY: CUMBERLAND I
DATE OF DEATH: 08/31/2003 I
I
TOTAL AMOUNT PAID: $30,000,00
REMARKS:
CHECK# 2070
INITIALS: JA
SEAL RECEIVED BY: GLENDA FARNER STRASBAUGH
REGISTER OF WILLS
REGISTER OF WILLS
r .,- .,
Charles E. Shields III
/ \ J t '
Attorney-At-Law I ~ fJj .:, L
I I' .
i 6 Clouser Road \
I
I \ "
Mechanicsburg, PA 17055 ""-...."''\ ,,/' j __'~;."L_"'-"'''-'''.; ,
-.,/'
-.
i _.?
i
Ann Capozzi
Register of Wills Office
Cumberland County Court House d
One Courthouse Square ,
Carlisle, Pennsylvania 17013 ..
I
J.J~O~~ 7.6D f
\.~ :-
i 7;) i 3#:;:.32.3 j III Jjj lllni! I! III H!; ii'll J i, II ii Illi! II; iii j ,i lJ illl! il illl
I
STATUS REPORT UNDER RULE 6.12
Name of Decedent: Geraldine M. P .wher
Date of Death: 8-31-03
Will No. Admin. No. 21-03-750
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:
l. State whether~dministration of the estate is complete:
Yes No
2. If the answer is No, state when the personal
representative reasonably believes that the administration will be
complete: ~ ?t/~' t2 ~,
U
3 . If the answer to No. 1 is Yes, state the following:
a. Did the personal representative file a final
account with the Court? Yes No
b. The separate Orphans' Court No. (if any) for
the personal representative's account is:
c. Did t.he personal representative state an
account informally to the parties in interest? Yes No
d. Copies of receipts, releases, joinders and
approvals of formal or informal accounts may be filed with the
Cerk of the Orphans' Court and may be attached to this report.
Date, September 6, 2004 ~ p.~ fJ.
Signature
Charles E. Shields, III, Esquire
Name (Please type or print)
'D 6 Clouser Road, .Mechanicsburg, PA 17055
n~) Address
~t7: Zld 8- d3S 170. (717 ) 766-0209
Tel. No.
Capacity: Personal Representative
. '---():~)t3rt-! X Counsel for personal
representative
(MAH:rmf/AM3)
REV.1500 EX (6-00) OFFICIAl USE ONLY
COMMONWEALTH OF REV-1500
PENNSYLVANIA
72Uf- 8<o56\:JoEpARTh1ENTOF REVENUE
t\. ~\5()D DEPT. 280601 INHERITANCE TAX RETURN FILE NUMBER
A. ? ~ HARRISBURG. PA 17128-0601 RESIDENT DECEDENT 21 - 2003 -.90750 __
. ,\., , COUNTY CODe YEAR NUMBER
DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURITf NUMBER
I- Pipher, Gera1d3.ne M 204-01-5442
Z
W DATE OF DEATH (MM-DD-YEAR) DATE OF BIRTH (MM-DD-YEAR) THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
C
W 08/31/2003 02/24/1918 REGISTER OF WILLS
!il (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURllY NUMBER
C
W [Z] 1, Original Return D 2. Supplemental Retum D 3. Remainder Return (date of death prior to 12-13-82)
I-
::.:::!cn o 4. limited Estate D 4a. Future Interest Compromise (date of death after 12-12.82) [X] 5. F~ Estate Tax Return Required
u"""
w..u
,,00 00 6. Decedent Died Testate {Attach copy ofWiIi) 0 7. Decedent Maintained a living Trust (Attach copy Of Trust) _ 8. Total Number of Safe Deposit Boxes
U"'..J
..Ill o 9, Litigation Proceeds Received D 10. Spousal Poverty Credit (date of death between 12-31-91 arKll_1_95) D 11. Election to tax under See. 9113(A)(AttaohSch 0)
~
THIS SECTION MUST BE COMPLETED. ALL CO~RESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
... NAME COMPLETE MAILING ADDRESS
z
w
c Charles E. Shields, III
z 6 Clouser Lane
0 FIRM NAME (If Applicable)
..
'" Mechanicsburg, PA 17055
il!
8 TELEPHONE NUMBER
717-766-0209
1. Real Estate (Schedule A) (1) 1,105,776.73 OFFICIAl.. USE ONI;Y::1
2. Stocks and Bonds (Schedule B) (2) 49,724.10 ')
3. Closely Held Corporation, Partnership Of Sole-Proprietorship (3) 0.00
104,473.26 I !
4. Mortgages & Notes Receivable (Schedule 0) (4) , ;'~~' ,
5 Cash, Bank. Deposits & MisceUaneous Personal Property 69,702.73
(Sdledule E) (5) -:-~ .1
_.... 1
Z 6. Jointly Owned Property (Schedule F) (6) 0.00 )
0 D Separate Billing Requested -..-'O- ,'1
i= ..
"''O-
:s 7. lnter.Vivos Transfers & Miscellaneous Non-Probate Property (7) 860,112.50 ;-1
=> (Schedule G or L)
!:: 2,189,789.32
no 8. Total Gross Assets (total lines 1.7) (6)
<(
0 127,357.22
l:! 9. Funeral Expenses & AdministratIVe Costs (Schedule H) (9)
10. Debts of Decedent. Mortgage liabilities, & liens (Sdledule Q (10) 1,071.00
11. Total Deductions (total Lines 9 & 10) (11) 128,428.22
12. Net Value of Estate (line B minus Line 11) (12) 2,061,361.10
13. Charitable and Governmental Bequests/See 9113 Trusts for'.\'t1ich an election to tax has not been (13) 0.00
made (Schedule J)
14. Net Value Subject to Tax (line 12 minus line 13) (14) 2,061,361.10
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
15. Amount of line 14 taxable at the spousal tax 0.00 X.OO_(15) 0.00
Z rate, or transfers under Sec. 9116 (a)(1.2)
0
;;: 16. Amount of line 14 taxable at lineal rate 2,061,361.10 x .045-- (16) 92,761.25
..
I-
:> 0.00 0.00
.. 17. Amount of Line 14 taxable at Sibling rate x.12 (17)
~
0 0.00 0.00
U 18. Amount of Line 14 taxable at collateral rate x ,15 (18)
><
.. 19. Tax Due 92,761.25
I- (19)
20. o CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
> > BE SURE TO ANSWER ALL QUESTIONS ON REVERSE SIDE AND RECHECK MATH < <
2W46451.000
\>
Decedent's Complete Address:
S1REET ADDRESS
5 Pipher Lane
~ I~ I.
Mechanicsbura PA 17050
Tax Payments and Credits:
1. Tax Due (Page Hine 19) (1) 92 ,761. 25
2. Credits/Payments
A. Spousai Poverty Credit 0.00
B. Prior Payments 58 , 500.00
C. Discount 1 ,500.00
Total Cred~s (A + B + C) (2) 60 .000.00
3. Interest/Penalty if applicable
D. Interest 0.00
E. Penalty 0 . 00
Total Interest/Pena~y (0 + E) (3) 0.00
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) 32 ,761.25
A. Enter the interest on the tax due. (SA) 0.00
B. Enter the totai olLine 5 + SA. This is the BALANCE DUE. (5B) 32 , 761. 25
Make Check Pa able to: REGISTEROF'MLLS,AGENT
";,'<."" ,~.,.';"".......~"..:.,..,..I,'''i' "".;,;:_
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred;. . . . . . . . . . . . . . . 0 [X]
b. retain the right to designate who shall use the property transferred or its income; . D 00
c. retain a reversionary interest; Of . . . . . . . . . . . . . . . . . . . . . . . . 0 [Z]
d. receive the promise for life of either payments, benefits or care? . . . . . . . . . D [X]
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? . . . . . . . . . . . . . . . . . . . . . . . . . . .. D [X]
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? 0 00
4. Did decedent own an Individual Retirement Account, annuity, or other non~probate property which
contains a beneficiary designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0 (ZJ
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
lUNG RETURN
o y a
Mechanicsburg,
SlGNAru~~PR;rAREROTI-iER DATE
LA'fM.{U. E. 'I 5 I)S
AOORESS ouser oa
Mechanicsburg, PA 17055
i\S'k$%tia:-ZbM~~<Mi1,~'Wf!:~)jlm7ft\f00ft~~1~ ,~'JtG:i,,"~~)Jtib"'-~ & .' n~:~WU&jViMh";- r;.t'lid=. if""'" ,,*
For dates of dElath on or after JUly 1, 1994 and before January 1, 1995, the tax rate imposed on the net value Of transfers to Of for the use of the surviving spouse is 3%
{72 P.S. ~ 9916 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value oftransters to or for the use of the surviving spouse is 0% [72 P .S. !Ii 9116 (a) (1.1) (;;))
The statute does not exempt a transfer to a surviving spouse from tax, and Ihe slatutory requirements for disclosure of assets and filing a tax return are still applicable even if
the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent,
or a stepparent of the child is 0% I72 P.S.!3 9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. ~ 9116(1.2) [72 P.S. S9116(a){1)).
The tax rale imposed on the net value 01 transfers to or fOr the use of the decedent's siblings is 12% (72 P.S. ~ 9116(a)(1.3)J. A sibling is defined, under Section 9102, as an
individual who has at least one parent in common with the decedent, whether by blOOd or adoption.
2W46461.000
REV-1502EX+(1-97} SCHEDULE A
COMMONWEALTH OF PENNSYLVANIA REAL ESTATE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Pipher, Geraldine M 21-2003-00750
All real property owned soIery or as a tenant In common must be reported at fair market Villue. Fair market value is defined as the price at which property would be exchanged
between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Rear property which Is Jolntly-owl1.8d with
I1ght of survivorship must be disclosed on $chedula F.
ITEM DESCRIPTION VALUE AT DATE
NUMBER OF DEATH
1. Apartment at 2-4 Holly Lane, Silver Spring Township, Cumberland 142,000.00
County, Pennsylvania more particularly described in the deed
from David T. Pipher and Geraldine M. Pipher, his wife to
Geraldine M. Pipher dated March 29, 1977 and recorded at Deed
Book liB", Vol. 27, Page 795, being tract No. 2 therein.
See appraisal by Mark E. Hilbert.
2 Apartments at 9 A-B-C-D Rockledge Drive, Mechanicsburg, Silver 217,000.00
Spring Township, Cumberland County, Pennsylvania more
particularly described in the deed from David R. Pipher and
Geraldine M. Pipher, his wife, to Geraldine M. Pipher dated
March 29, 1977 recorded in Oeed Book "T", Vol. 31, page 204.
See appraisal by Mark E. Hilbert.
3 Apartments at 415-417 Rockledge Drive, Mechanicsburg, Silver 146,000.00
Spring Township, Cumberland County, Pennsylvania more
particularly described in the deed from David R. Pipher and
Geraldine M. Pipher, his wife, to Geraldine M. Pipher dated
March 29, 1977 recorded in Deed Book liT", Vol. 31, page 204.
See appraisal by Mark E. Hilbert.
4 Apartments at 407-409-411 Hogestown Road, Mechanicsburq, 192,500.00
Silver Spring Township, Cumberland County, Pennsylvania more
particularly described in the deed from David R. Pipher and
Geraldine M. Pipher, his wife, to Geraldine M. Pipher dated
March 25, 1966 recorded in Deed Book "X", Vol. 21, page 687.
See appraisal by Mark E. Hilbert.
5 Apartments at 415-417-419 Hogestown Road, Mechanicsburg, 192,500.00
Silver Spring Township, Cumberland County, Pennsylvania more
particularly described in the deed from Linda L. Hoke and
Dennis Hoke, her husband, to Geraldine M. Pipher dated May 24,
1972 recorded in Deed Book "Q", Vol. 24, page 238.
See attached appraisal by Mark E. Hilbert.
6 19.2675% interest as tenant in common in a recently subdivided 43,159.20
lot having an address of 6 Pipher Lane, Mechanicsburg, Silver
Spring Township, Cumberland County, Pennsylvania, being part of
Total from continuation pages.... 172,617.53
TOTAL (Also enter on tine 1, Recapitulation) $ 1.105.776.73
2W46952,OOO (If more space is needed, insert additional sheets of the same size)
Page 2
Estate of: Pipher, Geraldine M 21-2003-00750
Schedule A -- Real Estate
Item Value at
No. Description Date of Death
-
6 the premises which Geraldine M. Pipher, as Executrix of the
Estate of David T. Pipher granted and conveyed a 75% interest
unto the David T. Pipher Bypass Trust and a 25% interest unto
herself as tenants in common by deed dated December 11, 2000
recorded in Deed Book 236, page 60. The said Geraldine M.
Pipher subsequently made gifts of interests as tenants in
common from her share to assorted lineal descendants as appeax
in the deed dated January 17, 2001 recorded in Deed Book 238,
Page 1102. The subdivided lot, designated as Lot No. 4,
appears in the plan of subdivision recorded in Plan Book 89,
page 71.
See appraisal by Mark E. Hilbert.
FMV 100% $224,000
19.2675% $43,159.20
7 19.2675% interest as tenant in common in a recently subdivided 26,974.50
lot having an address of 5 Pipher Lane, Mechanicsburg, Silver
Spring Township, Cumberland County, Pennsylvania, being part c
the premises which Geraldine M. Pipher, as Executrix of the
Estate of David T. Pipher granted and conveyed a 75% interest
unto the David T. Pipher Bypass Trust and a 25% interest unto
herself as tenants in common by deed dated December 11, 2000
recorded in Deed Book 236, page 60. The said Geraldine M.
Pipher subsequently made gifts of interests as tenants in
common from her share to assorted lineal descendants as appeaz
in the deed dated January 17, 2001 recorded in Deed Book 238,
Page 1102. The subdivided lot, designated as Residual Lot No.
2, appears in the plan of subdivision recorded in Plan Book 89
page 71.
See appraisal by Mark E. Hilbert.
FMV 100% $140,000
19.2675% $26,974.50
8 19.2675% interest as tenant in common in a recently subdivided 115,682.07
lot containing 29.852 acres, Mechanicsburg, Silver Spring
Township, Cumberland County, Pennsyl.vania, being part of the
premises which Geraldine M. Pipher, as Executrix of the Estate
of David T. Pipher granted and conveyed a 75% interest unto th
David T. Pipher Bypass Trust and a 25% interest unto herself a
tenants in common by deed dated December 11, 2000 recorded in
Page 3
Estate of: Pipher, Geraldine M 21-2003-00750
Schedule A -- Real Estate
Item Value at
No. Description Date of Death
-
Deed Book 236, page 60. The said Geraldine M. Pipher
subsequently made gifts of interests as tenants in common from
her share to assorted lineal descendants as appears in the dee
dated January 17, 2001 recorded in Deed Book 238, Page 1102.
The subdivided lot, designated as Residual Lot No. 1, appears
in the plan of subdivision recorded in Plan Book 89, page 71.
See appraisal by Mark E. Hilbert which valued the land at
$20,000 per acre for a total of 35.14 acres. The land is
occupied by a small "pole" building determined to have a value
of $3,360 based on the most recent Cumberland County
Assessment. The combination of the value per acre and the
"polen building value result in a FMV of $600,400 for a 100%
interest.
FMV 100% $600,400
19.2675% $115,682.07
9 19.2675% interest as tenant in common in a recently subdivided 16,184.70
lot consisting of 3.650 acres located in Mechanicsburg, Silver
Spring Township, Cumberland County, Pennsylvania, being part c
the premises which Geraldine M. Pipher, as Executrix of the
Estate of David T. Pipher granted and conveyed a 75% interest
unto the David T. Pipher Bypass Trust and a 25% interest unto
herself as tenants in common by deed dated December 11, 2000
recorded in Deed Book 236, page 60. The said Geraldine M.
Pipher subsequently made gifts of interests as tenants in
common from her share to assorted lineal descendants as appeaI
in the deed dated January 17, 2001 recorded in Deed Book 238,
Page 1102. The subdivided lot, designated as Lot No. 5,
appears in the plan of subdivision recorded in Plan Book 89,
page 71.
See appraisa~ by Mark E. Hilbert.
FMV 100% $84,000
19.2675% $16,184.70
10 19.2675% interest as tenant in common in a recently subdivided 13,776.26
lot conSisting of .546 acres located in Mechanicsburg, Silver
Spring Township, Cumberland County, Pennsylvania, being part c
the premises which Geraldine M. Pipher, as Executrix of the
Page 4
Estate of: Pipher, Geraldine M 21-2003-00750
Schedule A -- Real Estate
Item Value at
No. Description Date of Death
-
Estate of David T. Pipher granted and conveyed a 75% interest
unto the David T. Pipher Bypass Trust and a 25% interest unto
herself as tenants in common by deed dated December 11, 2000
recorded in Deed Book 236, page 60. The said Geraldine M.
Pipher subsequently made gifts of interests as tenants in
common from her share to assorted lineal descendants as appear
in the deed dated January 17, 2001 recorded in Deed Book 238,
Page 1102. The subdivided lot, designated as Lot No. 3,
appears in the plan of subdivision recorded in Plan Book 89,
page 71.
See appraisal by Mark E. Hilbert.
FMV 100% $71,500
19.2675% $13,776.26
TOTAL. (Carry forward to main schedule) 172,617.53
REV-1503 EX + (1-97)
SCHEDULE B
COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Pipher, Geraldine M 21-2003-00750
All property jointly~owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRrP"nON OF DEATH
1. PNC Investments - Division of Hilliard, Lyons, Inc. Account 49,724.10
No. 67392894 - See valuation detail attached.
TOTAL (Also enter on line 2, Recapitulation) $ 49,724.10
2W46963_000 (If more space is needed, insert additional sheets of the same size)
REV-1507 EX-\- (1-97)
SCHEDULE D
COMMONWEALTH OF PENNSYLVANIA MORTGAGES & NOTES
INHERITANCE TAX RETURN RECEIVABLE
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Pipher, GQraldine M 21-2003-00750
All property Jolntly-owned wlU1 U1e right ofsurvlvof'$hlp must be dIsclosed on Schedule F.
ITEM VALUE AT
NUMBER DESCRIPTION DATE OF DEATH
1. Robert N. Martin and Kimberly L. Martin Mortgage and Bond dated 61,278.04
September 9, 1992. Original amount $82,400. Balance due at
date of death $61,278.04.
2 Dennis Hoke and Linda L. Hoke Mortgage and Bond dated Septmber 37,495.22
29, 1992. Original amount $92,000. Amount due at date of
death $37,495.22
3 Amy L. Hoke Promissory Note dated circa July 2003. Original 5,700.00
amount $6,500. Amount due at date of death $5,700.
TOTAL (Also enter on line 4, Recapitulation) $ 104,473.26
2W46AC2,OOO (If more space is needed, insert additional sheets of same size)
REV-15Q8 EX + (1-97) I
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC.
INHERITANCE TAX RETURN
RESIDENT DECEDENT PERSONAL PROPERTY
ESTATE OF FILE NUMBER
Pipher, Geraldine M 21-2003-00750
Include the proceeds of litigatloo and the date the proceeds were ~ived by the estate. An property jolntly-owned with the right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. PNC Bank checking account No. 5070094113 10,109.64
2 Accrued interest on above 0.76
3 PNC Bank Checking account No. 5003918573 43,761.71
4 Accrued interest on above 11.99
5 Patriot News refund 70.60
6 Verizon refund 9.16
7 Refund - Sylvia Darrenkamp - trash bill 36.70
8 Capital Blue Cross refund 178.86
9 1992 Crysler LaBaron - VIN 3C3XA46K2NT301587 - valued per 1,500.00
appraial attached
10 1997 Dodge Truck VIN 187FL26X6VS316032 - valued per appraisal 5,000.00
attached
11 Comcast refund 5.31
12 Homeowner's insurance (jewlrey coverage)policy refund 52.00
13 Automobile insurance refund 245.75
14 Homeowners insurance refund - premises coverage 208.25
15 Walnut Drop leaf table - made by husband 400.00
16 Walnut drop leaf table - made by husband 300.00
17 Walnut dry sink - made by husband 500.00
18 Ridgeway grandfather clock - not functioning 250.00
19 Spinning Wheel - cracked with missing parts 100.00
20 Queen size signature quilt 400.00
21 Celluloid Box 50.00
Total from continuation pages.... 6,512.00
TOTAL fAlso enter on line 5 Recanitulation) 1$ 69,702.73
2W46AD 2.000 (If more space is needed, insert additional sheets oftM same size)
Page 2
Estate of: Pipher, Geraldj.ne M 21-2003-00750
Schedule E -- Cash, Bank Deposits & ~SC. Personal Property
Item Value at
No. Description Date of Death
-
22 Goebel (W. Germany) girl figurine 25.00
23 Goebel (W. Germany) figurine 25.00
24 Postcard album of Mechanicsburg and surrounding area 100.00
25 Postcared album of famous churches 50.00
26 4 black Westmorelnad blcak milk glass plates, signed 80.00
27 Wooden Hat rack 40.00
28 Wooden television stand - made by David Pipher 50.00
29 Gold color decorative swan 10.00
30 Samll wooden antique stand 60.00
31 One plank bottom kitchen chair 50.00
32 Quilt made by decedent 350.00
33 @ antique picture frames 200.00
34 2 quilts 600.00
35 2 end tables 200.00
36 Cherry blanket chest 100.00
37 Cherry break front 500.00
38 Wooden chair 50.00
39 Bench 50.00
40 Ring -star saphira 300.00
41 Walnut mantle clock 50.00
42 Walnut box 35.00
43 2 single beds with walnut headboards 150.00
Page 3
Estate of: Pipher, Geraldine M 21-2003-00750
Schedule E -- Cash, Bank Deposits & ~sc. Personal Property
Item Value at
No. Description Date of Death
-
44 Queen size quilt 300.00
45 Carousel on wood stand 50.00
46 Great grandma's money box 10.00
47 Quilting frame 50.00
48 Walnut telephone stand 40.00
49 Walnut magazine rack 30.00
50 Plank bottom chair 50.00
51 Quil t 100.00
52 2 lamps @$50 each 100.00
53 Kerosene lamp 75.00
54 Quilt rack 70.00
55 2 pictures @ $10 each 20.00
56 Quil t 200.00
57 Wooden stand 40.00
58 Plank bottom chair 35.00
59 Wall shelf 40.00
60 Green vase 25.00
61 Wooden church 25.00
62 Glass cane 700.00
63 Wooden table 400.00
64 Charles E. Bricker, Auctioneer - gross proceeds from sale of 1,077.00
household goods
Page 4
Estate of: Pipher, Geraldine M 21-2003-00750
Schedule E -- Cash, Bank Deposits & ~sc. Personal Property
Item Value at
No. Description Date of Death
-
TOTAL . (Carry forward to main schedule) 6,512.00
REV-1510 EX + (1-97) SCHEDULE G
COMMON\NEAL TH OF PENNSYLVANIA INTER-VIVOS TRANSFERS &
INHERITANCE TAX RETURN MISC. NON-PROBATE PROPERTY
RE$DENTDEOEDENT
ESTATE OF FILE NUMBER
Pipher, Geraldine M 21-2003-00750
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
~SCRIPTION OF PROPERlY %OF
ITEM INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DATE OF DEATH DECD'S EXCLUSION TAXABLE VALUE
NUMBEF DECEDENT ANDTHeDATl:: OF lRANSFER. ATIACH A COPY OF THE VALUE OF ASSET 'IF APPUCABLE'
DEED FOR REAL ESTATE. INTEREST
1. David T. Pipher Bypass Trust - 840,112.50 100.00 0.00 840,112.50
excluded from tax in his
estate under Section 9113.
Assets consist of a 75%
interest in the real property
described on Schedule A as
items 6, 7, 8, 9 and 10. Fair
market value of these items
(per appraisals attached to
Schedule Al is $1,120,150.
Value of 75% tenants in common
interest held by the trust is
$840,112.50
2 Kimberly martin - cash gift 5,000.00 100.00 3,000.00 2,000.00
3 Dennis L. Hoke - cash gift 5,000.00 100.00 3,000.00 2,000.00
4 Gary James Hoke - cash gift 5,000.00 100.00 3,000.00 2,000.00
5 Kristy Pipher Richmond - cash 5,000.00 100.00 3,000.00 2,000.00
gift
6 Linda L. Hoke - cash gift 5,000.00 100.00 3,000.00 2,000.00
7 Joan Pipher - cash gift 5,000.00 100.00 3,000.00 2,000.00
8 Lisa Barrios - Cash Gift 5,000.00 100.00 3,000.00 2,000.00
9 Ronald K. Pipher - cash gift 5,000.00 100.00 3,000.00 2,000.00
10 Amy Hoke - cash gift 5,000.00 100.00 3,000.00 2,000.00
11 Debra Hoke - cash gift 5,000.00 100.00 3,000.00 2,000.00
TOTAL (Also enter on line 7, Recapitulation) $ 860,112.50
(If more space Is needed, insert additional sheets of same size.)
2W46AF2.000
REV-1511 EX + (1-97) SCHEDULE H
COMMONWEAL TIi OF PENNSYLVANIA FUNERAL EXPENSES &
INHERITANCE TAX RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Pipher, Geraldine M 21-2003-00750
Debts of decedent must be renorted on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Myers Funeral Home, Mechanicsburg, PA 8,721.00
2 Gingrich Memorials 100.00
B. ADMINISTRATIVE COSTS:
1, Personal Representative's Commissions 66,466.00
Name of Personal Representative(s)
Social Security Number(s) I EIN Number of Personal Representative(s)
Street Address
City State lip
Year(s) Commission Paid:
2. Attorney Fees Name: Charles E. Shields, III 40,337.00
3. Family Exemption: (If decedent's address is not the same as claimant'S, attach explanation) 0.00
Claimant
Street Address
City State lip
Relationship of Claimant to Decedent
4. Probate Fees 164.00
6. Accountant's Fees Name: Robert Park, CPA 4,000.00
6. Tax Return Preparer's Fees 0.00
7. Cumberland County law Journal - estate notice 75.00
8 Harrisburg Patriot News - estate notice 93.85
9 Recording Fee for POA for Executrix deed 29.00
10 Inspection - Dodge truck 19.08
11 Mark E. Hilbert - real estate appraisals 4,500.00
12 Check printing fee 19.99
-Tota~:rrom continuat~on pages.... 2,832.30
TOTAL (Also enter on line 9, Recapitulation) $ 127,357.22
2W46AG2.000 (If more space IS needed, insert additional sheets of same size)
Page 2
Estate of: Pipher, Geraldine M 21-2003-00750
Schedule H, Part B -- Administrative Costs
Item
No. Description Amount
-
13 Register of Wills - inheritance tax filing fee 15.00
14 First and Final Account: filing fees, advertising, 2,000.00
service, etc.
15 Postage 480.30
16 Bricker's Auction - sale commissions on sale of real 337.00
property
TOTAL. (Carry forward to main schedule) 2,832.30
REV-1512 EX... wan
SCHEDULE I
COMMONWEALTH OF PENNSYLVANIA DEBTS OF DECEDENT,
INHERITANCE TAX RETURN MORTGAGE LIABILITIES, & LIENS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Pipher, Geraldine M 21-2003-00750
tnclude unreimbursed medical eXDenses.
ITEM
NUMBER DESCRIPTION AMOUNT
1. United States Treasury - Final personal income tax on 1040 755.00
2 Pennsylvania Department of Revenue - final personal income tax 316.00
on PA40
TOTAL IAlso enter on line 10, Recapitulation) $ 1,071.00
2W46AH2.000 (If more space is needed, insert additional sheets of the same size)
REV-1513 EX+ (9-00) SCHEDULE J
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANce TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
P'~h~r Ger~l"ine M 71-2003-007 ;0
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I. TAXABLE DISTRIBUTIONS (include outright spousal distributions, and transfers
under Sec. 9116 (aJ (1.2)]
1. Hoke, Linda L Daughter 538,289.10
501 Holly Lane
Mechanicsburg, PA 17050
2 Pipher, Ronald K Son 538,289.09
102 Holly Lane
Mechanicsburg, PA 17050
3 Hoke, Gary J Grandson 164,130.49
4 Hoke, Debra J Granddaugher 164,130.48
5 Hoke, Amy L Granddaughter 164,130.49
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART" - ENTER TOTAL NON.TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 0.00
2W46AI 1 000 (If more space IS needed, Insert additional sheets of the same size)
Page 2
Estate of: Pipher, Geraldine M 21-2003-00750
Schedule J Part 1 -- Beneficiaries
Item Amount or
No. Name and Address of Person(s) receiving property Relationship Share of Estate
-
6 Martin, Kimberly Granddaughter 164,130.48
7 Barrios, Lisa Jo Granddaughter 164,130.49
8 Richmond, Kristy Pipher Granddaughter 164,130.48
,
Register of wills of CUMBERLAND County, Pennsylvania
Certificate of Grant of Letters
No. 2003-00750 PA No. 21-03-0750
ESTATE OF PIPHER GERALDINE M
\LAbl, t'LK::ilt IVLLJ)J)LJe; )
Late of SILVER SPRING TOWNSHIP
CUM~bKWli~U CUUN1Y,
Deceased
Social Security No. 204-01-5442
WHEREAS, on the 12th day of September 2003 an instrument
dated October 5th 2000
was admitted to probate as the last will of PIPHER GERALDINE M
(LA::il, ~~Kbl1 M~0ULb)
late of SILVER SPRING TOWNSHIP , CUMBERLAND County, who died on the
31st day of Auqust 2003 and,
WHEREAS, a true copy of the will as probated is annexed hereto.
THEREFORE, I, DONNA M. OTTO , 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 HOKE LINDA L and PIPHER RONALD K
who have duly qualified as Executor (rix)
and have 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 my Office the 12th day of September 2003.
0/_4/")~ f:1//i' //J/, ~i' "'V
egls er or: .LS
~fi.u'~
* ,oNaTE * * ALL NAMES ABOVE APPEAR (LAST, FIRST, MIDDLE)
LAST WILL AND TESTAMENT OF GERALDINE M. PIPHER
I. GERALDINE M. PIPHER, an unremarried widow of the Township of Silver Spring,
Cumberland County, Pennsylvania, being of sound and disposing mind, memory and
understanding, do make, publish and declare this my Last Will and Testament, hereby revoking and
making void any and all prior Wills by me at any time heretofore made.
1.
I direct the payment of all my just debts and funeral expenses as soon after my decease as
the same can conveniently be done.
2.
AJ] the rest, residue and remainder of my Estate, real, personal and mixed, whatsoever and
wheresoever situate, I direct to be divided and distributed as follows:
A. Twenty (20%) per cent thereof to my daughter, LINDA. L. HOKE. In the event
that she fails to survive me, then her share shall go to her three (3) children, to wit: GARY J.
HOKE, DEBRA J. HOKE, and AMY L. HOKE, in equal shares. neT rtim... In the event one or
more of the said grandchildren shall predecease and not be survived by issue, then that grandchild's
inlerest shall lapse and shall be distributed proportionally to the other grandchildren named in this
subparagraph.
B. Twenty (20%) per cent thereof to my son, RONALD K. PIPHER. In the event
that he fails to survive me, then his share shall go to his children, to wit: KIMBERLY MARTIN,
LISA JO BARRIOS. and KRISTY PIPHER RICHMOND. in equal shares, neT rtime<. In the
event one or more of the said grandchildren shall predecease me and not be survived by issue, then
that grandchild' s interest shall lapse and shall be distrihuted proportionally to the other
grandchildren named in this subparagraph.
C. Sixty (60%) per cent thereof to be divided equally amongst the six (6) ahove.named
grandchildren, ner r.;tir;nes. In the event one or more of the said grandchildren shall predecease me
and not be survived by issue, then that grandchild's interest shaIllapse and shall be distributed
proportionally to all the other grandchildren named in this final suhparagraph.
3.
All federal, state. and other death taxes payahle because of my death, with respect to thy
property forming my gross estate for tax purposes, whether or not passing under this Will,
including any interest or penalty imposed thereon, shall be considered an expense of the
administration of my estate. All such taxes on present or future interests shall be paid at such time
as my Executor, hereinafter named, may think proper, regardless of whether such taxes are then
due.
-1/e.~~ >>7, ~
4.
I nominate, constitute and appoint my daughter, LINDA L. HOKE, and my son,
RONALD K. PIPHER, to be the Co-Executors of this my Last Will and Testament. It is my
desire that two (2) persons always serve together as Co-Executors. In the event that either or both
of my said Co-Executors are or shall become unable or unwilling to serve in such capacity, then.J
nominate and appoint the following persons, in the following order. as alternates: KIMBERLY
MARTIN. then GARY J. HOKE. I further direct that they shall not be required to file bond or
other security in the Office of the Register of Wills for the purpose of administering my Estate.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~ day of
O~k'L-- .AD.2~ ~ .
~4<,(., ?1l:' 1',) PV (SEAL)
GERALDINE M. PIPH R
Signed, sealed, published and declared by the above-named GERALDINE M. PIPHER. as
and for her Last Will and Testament, in the presence of us, who at her request and in her presence,
and in lhe presence of each other, have hereunto subscribed our names as witnesses.
~J~A- J? dJt:,/dv~
-'
~A-O.~~
2
INVOICE
From:
MARK E. HilBERT & ASSOCIATES
219 E. Main'Street/2nd:floor fj~ . fiYl\lI1!lEI}.
Mechanic:;s~urg. PA 17055
03-684M1
T~ I
N
Attention: V
Charles Shields III Esq. 0
6 CrOLlSer Road I
Mechanicsbur9.. pA 17055 C
E
~e''-:;':'::\' A....1s1ii orild\ .
Date:': :_J~~tiJj,:fttltti.:i',i
10105/03 717-766-4988
Purchaser/Borrower pieher. Geraldine (BSTATE)
Property Address 2-4 Hollv Lane Unit
City Mechanicsbura Subdivision Silver Bcrina Township
County Cumberland State PA Zip 17055
Legal Description Not Available
Ma Reference
Appraisal Fee Amount........... ..... ...... ...... .....$ 450.00
Mail or Handling Fee. . ...$
Additional Charges 1 ..,$
Additional Charges 2 ..,
Additional Charges 3 ...$
Sales Tax........ ....... . . . . . . . . . , . . . . . . . . . . .,
Thank you for your business! Total Amount of Invoice $ 450.00
Please detach and include the bottom portion with your payment. . . Thank you! t
-----------------------------------~--------------
...,,,
AMOUNT
DUE
$ 450.00
T.
Attention;
AMOUNT
MARK E. HilBERT & ENCLOSED
219 E.M~in Street/2nd Floor
Mechanic$burg';- PA" '1705& $
TERMS - Balance due upon receipt of invoice
Please return this portion with your payment. Thank you!
MARK S. HilBERT & ASSOClAUS
F;I" 03-684M1
APPRAISAL REPORT
of
2-4 Holly Lane
Mechanicsburg, PA 17055
PREPARED FOR:
Charles Shields III Esq.
6 Clouser Road
Mechanicsburg, PA 17055
AS OF:
August 31, 2003
PREPARED BY:
MARK E. HILBERT & ASSOCIATES
219 E. Main Street/2nd Floor
Mechanicsburg, PA 17055
MCS, aOlVl5lollo1 ACI OllV8lopmenl{8001 697.77BJ
MARK f. HILBERT & ASSOCIATES File No. 03-684M1
SMALL RESIDENTII ICOME PROPERTY APPRAISAL REPORT
Hell Lane e;! Mechanicsbur PA Sl3le PA Zi cO<!<> 17055
L iJI Oeser; lion Not Available Count CUmberland
A'SIIsso,'.P"ceINo. r."Y"a, f\,E.T.,,<tS$ S claIA.sas.men,. $
Nei hbo,hDOdo,P'o-ec:IName Silver S rin Townshi " RaferenCll CensuITr.ct 118
Barra...", pi her Geraldine ESTATE Cu""nIO..."", Same Dc"" (II Own", X r""."1 Vacant
X FeaSimle Leasehold " ,,' "" Col1dominium HOA' ~,
O.teofS,,1e N A Oese'; tionlnd$emounlojloenche, ".{concession.lobe idb $Illler N A
Es A~r~ 6 Cloused Road Mechanicsbur PA 17055
Address 219 E. Main Street Mechanicsbur PA 17055
"'""""'"' ~f(Wnjyhousing "'""""'"" 2-4f....,.housirQ
SingluFamiI, PAICE '" 2-4 family PRICE '"
""""'"" $10001 Iyrs) ""'-' $1000) Iyr")
[Jt] Owner 80 Low 10 DOwner 80 Low 55
Drenan, High IXITenant High
IXI VacantIO-S,,"1 P,edominant IXI VecentIO.5%) P,edominllfll
Vecentover5'1h 130 Vecantloverii'llol 130 65
No.SIlI'ies~No.units~Age~yn. F're:\lontlaodllS8" landUSllcl1aoge
~)ncreasing DSlBbta DDltClining Doe family 55 o Not likely ~Uke!y
'lloD,ncrea.ing ~Stab4e DD&c,lning 2-4lamily 12 Dlnproc!!SSlo:
DUkeIYllye.orlikely,describG Multi-family 03 Residential
Commercial 05
t VaC.1 25
NotII:AaDII_the.lIlCielcornpooiUon<1lthe~"no1___I_.
Nei"hborhood b<>und.rie. and ""aracterls,ic.: SUb ect r ert is located alon Rockled e Drive in silver S ri
CUmberland Coun Penn lvania.
Fsc'o', lhat aUect the marketabliliy ollhe propenie. in the ""ighborhood {p'o~imlty to employmenl and ameniulIS, employment stability, appeol to markel, elc_l:
has ea access to ma'or Hi hwa s Schools Churches 1 nt sho i adn recreational
rhelollow,ng sVoilebleli.tlngs ,epr8Sentr... rrm01<:un"enl. siml'Bf.and 1I'0ximetec:ompetltive 1I'0"",tiesto tl>e.ubiect propefly inlheSubject neighborhood_ Thl. enelysi.i.intende':{IO
evaluate the invent"'y cu1lently on the market competing with the subjecl property in the subject neighb"'hood and ,ecent price end marketing time trends aflecting the .ubiect pro"",ty.
[Listing. outside 11>8 subject neighb",hoo<l are not conaideret! applicablel. The listing comperables can be rentll '" SM comparlblls ilthey are cur"""'y I", sale.
ITEM SUBJECT COMPARABLE LISTING NO. 1 COMPARABLE LISTING NO.2 COMPARABLE LISTING NO. 3
2-4 Holly 6603 Carlisle Pike 440 Market Street 18 South 18th Street
Mechanicsbur PA Naw Cumberland PA C Hill PA
1.2 Miles+ 5.5 Miles+ - 4 Miles + -
," X Unto Fum. S 95 000 x Unl. Furn. S 118 000 Unto Fum. S 139 700
A oximeteGOA 3 740 2 610 1 655
C.P.M.L. C.P.M.L. C.P.M.L.
t UnitSITGt.lrn'./BRIBA 2 2 12 6 3 3 12 5 3 3 12 4 3
A roximale e",ooill 1880+ - 1920+ . 1930+
A oX.da sonmarket 116 130 153
Compa,isonollislingstosubjectproperty Listin 1 is in need of rovements . has shared furnace 3 car ara e.
Listin 2 isa 3 sto buiIdin in a ood location. Listin 3 has oor curb a eal in ood
location.
Market condi.ions rhat affecl 2.4 lamily prGpeni., In the subject neighbGrhood ;;ncludlng the above nelghborhoDd indlcat"'s of grGwlh ,are, propeny values, demandlsupply, and marketing tlmel
and lhepravalence sndimp"". in.h.subjaClmarketaraa rega.rdlngloendl.coonto, int"'estbuydownSandCG ncesslon.. and identilicatlonof trends in listing prfcas, average days 0 n.rhemarker
and.nyohangeoverpaSlYBlr,atc., There is a stead 01 of bu ers for ro erl riced r erties.
The muIit-unit market has been stead and stable with no forseeble chan es.
Dlmensrons 200 x 100.38 x 200 x 100.38 Topography Level
20.076 sa.ft. ComorlGt 1l<I" Dyes Size 0.46 Acres
SpeCitic loning classificerico and descriplion Residential Shipe Rectan 1ar
20ningcomplial"l(:e ~Leg" o LegellNonconlGrminglGrllndlatheredusel Dllleqal o NO zoning Dr.,;nage A ears Satisfacto
Highest & best use as imprGvet!: ~prflSlllltuse o Other use lexpiein1 View Residential
Landscaping Ade ate
Other Dff.site~ "~ Public Private D,lveway Macadam
Street MacadaDl. Il<I D A.ppll,ent.,sement. Uilities & Draina e
Cu'blgutlor None D D
Sidowslk None D D FEMASpecilllFloodHa,ardAree Dves ~No
St1fletlights None D D FEMAlone C Map Date 3-3-92
Aile None FEMAMa No. 420370
Comments lappa,ent odverso easements, encrQachments, special assessmenta, alide areas. illegal Of legel nonconlGrming loning, use, etc.l: None a arent.
Sub'ect: however to reservations easments conditions and ri ht of wa of record.
Freddie MaC Form 72 [101941 MCS..aOlvisionalAC10evelopmant 18001 697-7783 Pagelof4 Fonnje Mse Form t025 1101941
MARK 1= HilBERT & ASSOCIATES
.Ie No. 03-6B4M1
Borrower/Cllent pi her Geraldine ESTATE
Prooertv Address 2 - 4 Hall Lan.
CitvMSchanicsbura County CUmberland Statl! PA ZiD Code 17055
Lender Charles Shields III Esq.
ADDENDUM B
APPRAISAL CERTIFICATION
I certify that, to the best of my knowledge and belief:
- the statements of fact contained in this report are true and correct.
- the reported analyses. opinions, and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased professional analyses,
and conclusions.
- I have no (or the specified) present or prospective interest in the property that is the
subject of this report, and I have no (or the specified) personal interest or bias with
respect to the parties involved.
- my compensation is not contingent upon the reporting of a predeter.mined value or direction
in value that favors the cause of the client, the amount of the value estimate, tho
attainment of a stipulated result, or the occurrence of a subsequent event.
- the appraisal assignment was not based on a requested Ddnimwm valuation, a specific
valuation, or the approval of a loan.
- my analyses, opinions, and conclusions were developed, and this report has been prepared in
conformity with the uniform Standards of Professional Appraisal Practice and also
requirements of the Code of Professional Ethics and the Standards of Professional Practice
of the Appraisal Institute.
- the use of this report is subject to the requirements of the Appraisal Institute to review
by its duly authorized representatives.
- I have (or have not) made a personal inspection of the property that is the subject of this
report.
- DO one provided significant professional assistance to the person signing this report. (If
there are exceptions, the names of each individual providing significant assistance must be
as stated.)
- as of the date of this report, I, _Mark E. Hilbert
have completed the requirements under the continuing education programs of the Appraisal
Institute.
A review of this agreement of sales has been deter.mined that personal property items, and/or
intangible items, that are not real property, HAVE NOT been included in the agreement of sale.
Personal property items, and/or intangible items HAVE NOT been considered in determining the
subjects estimated market value.
..................................................................................................
NO YES
l. X - The subject sold during the last year.
Sale price $ Date
2. _X_ - The subject was listed for sale at the time of inspection.
Listing price $
3. _X_ - The subject was under agreement at the time of inspection.
Agreement price $
October 20, 2003
Date Appraiser Mark E. Hilbert
(X) did ( I did not inspect property
Pe>rmPH5 Mes. a D"'isionofACI08~81"l>"'ant{B00l697.77B3
MARK 1= HilBERT & ASSOCIATES
SMAll RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
Geowalllescriplion Extefiordescription IM.tariols/condi,ions, Foom.ion Ilnsulation (R-v_iftnownl
Unil.~d9S 2 I 1 Fooooalioll Block "'" No o Roor
Stories One E~lerjOfw.lIs Brick Crawl "paco Yes gg CeWng
TypeldeUalt_1 Attached Root,urlace Cnmnosition Sump Pump None ~W.'IS
Designl,'yle) Ranch Du....lex Gunorsldwnspt. Aluminum Oampn"". None A.........irent ~Flocr
E.isti<>glproposed Existin.... Window type Double Hun..... Senlamenl None Noted o None
Underconsl",ction No Storm sas~ISc'eens Existin.... Infest.tion None Noted Adequacy
YearBuih 1985 Manufactu'lIdhousing" D," ~No Basement 100 "'011011100'.'.. Ene'9yefficiantitems:
EUecnv..geIYfS,j 6-8 "ICompli..willllhllHUOManufactu,lldHOI.Ising 8asement/inl,1I Unfinished None Noted
ConslruetiooandS.'elyStandards.1
Nt')J UnilS Le~eH.) Foe, Livi- Dinl- Kitchen 000 Famil rm. Bed,m. , Balhs L.....nd Othe, S.I!.Iunit TOla;17
1 1 1 Are. 1 2 1 1 1 050 1 050
1 1 1 Are. 1 2 1 1 1 050 1 050
ImA'0~ement.conI3in, 8 Rooms' 4 Bedroomlsl' 2 Belhlsl; 2 100 S ue'a teat ot GROSS BUILDING AREA
GROSS BUILDING AREA IGBAIIS DEANED AS THE TOTAL ANISHED AREA llNCLUDING COMMON AREAS) OF THE IMPROVEMENTS
BASED UPON EXTERIOR MEASUREMENTS.
'""~ [Ma,,,,ials/conditionl "..,." KitchenelJ.lip.I,Itmit--cond.! .- CarSltII""IIe No.Cers~
Flollls Vinvl Type Baseboard Ael,lQerator 0 o None Garage D
Walls D..........all Fuel Electric Range/oven 2 OSlairs Carport D
Trim/linish Wood COndilion Avera....e Disposal 0 DaroPSlair Allached D
Bathtloo< Virl Dishwasher 0 [iJScuttla Detached D
eu, wainscol Fiberlass c...., Fan/hOOd 2 o Floor Adequate D
Doors Hollow Core Cemral None Compactor 0 o Heeted Inedequale D
Olhe' None Washer/dry 0 o Finished OHSlreel Ii<I
Conditi"" Microwave 0 DUnfini.hed None D
Fire I.celsl None . 0 Imereom 0
Coodili"""ottheimpro~emenls,repairsneeded.qual'lyofeon'lrucl'on.addiflo.....teetur....modernizelion,elc.: Sub;ect nro....ertv is in ve""" Nood
condition.
111:illi~
Inn
Deprecialion IphysJcal, tunclional. and ex",,"nal inadequacies. elc.l: There is no evidevce of functional or externial obsolescence.
1111
Ad""..e en~ironmenlel condilion. (such ao. t>u11lOf limited 10. hllle,dous wao.es, loxic :lUb..anc.... elc.! ple.enl in .he impr""""'enls. on .he site. Or in Ihe immediale vicinily 01 lhe subieCI
p'operty; There are no visible or an'narent adverse environmential conditions that would
ne~ativel~. ~~act the value of the sub4ect.
VALUATION ANALYSIS
ESTIMATED SITE VALUE ., 22 000 CommenlS onCost ApproaCh lsuch as. source 01 eoSl e..,malll. silavalue. SQUare!oo!
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS, "8IcuI8lionand. for HUD and VA. the8S1im8'ed r8m8in;ng economi" lif8 0 f'h8P'OP8"vl:
2.100 Sq.FI.@ S 55.00 ., 115.500 In renroduction cost of ;m.-..rovement Marshal &
Sq.F!.@ , ., Swift Handbook and local contractors are
Sq.F!. @ , ., referenced.
SqFt. @ . .,
Sq.F. @ , ..
.,
.,
..
Basement ., 16.800
..
Spacial Enargy Ellkjenlllams .,
Porches, Pal'o,. ele ..
TOlalEslima,ed Cos, New .. 132.300
II Phv.jcaj FUllClional Ex.ernal
Le.s I I
Depreciation 14.000 ., 14.000
DepracialedV.jueollmprovemenlS . ~ S 118 300
Ii "A. Is" Valuaot Si,almprovemenlS. ., 2 500
INDICATED VALUE BY COST APPROACH. ., 142 800
F,addia M.cForm 72 110/941 MCS,' D'vision 01 ACI Da~elopmant 19001697-7793 P'ga2ol4 F.nnieMaeForm 1025110/94)
------------
MARK F, HilBERT & ASSOCIATES
SMALL RESIDENTIAL ';OME PROPERTY APPRAISAL REPORT
j 1:...j.I:.:\::l At least thrn '''''Ial compe,~bl... sho~kt be reportlld lOOd analyzlld In th<a section. The rental comp~'ables should rep,esent the mOSI CUffant renfallnformslion on propertiaS aa sln1"llI and
proxmata to ,ha .subjact property OS possible_ IThis comparison i. bued Oil currenl ranlal de". therefor.. the 'anlal comperabl.s typically .ra no. 1M sema comperables use<! In rhe ..Ias
COl'IOPlIli$on analysis.\ The appraisal reporl Should ...sure lhe reader thaI ltoo unilS .nd pmpe"le. $Illeclad as co",p..ables are comp".bla to the .ubje~t property Ibolh the .uni.s ami Ihe
overallpropenylendaccu,a'elvrepresanttMrent"'me,l<atfor.hesubjactpropellvlunla..other....isa.tsledwilhinthsreporll.
11>>1 ITEM I SUBJECT COMPARABLE RENTAL NO.1 COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
}<:': A<1<lress 2-4 Holly Lane ll:a.ll25 West Main Street 29 West Locust Street 6603 Carlisle Pike
~MeCh.niC'burn'PA Me.chanicsbur'""-PA Meehaniesbur.... PA
proxlmitvtosUbiac, 1.5 Miles+/- 1. 5 Miles.,./- 1.2 Miles+/-
1.;.l~,~:_~Laase d.teS ,if availablel NAN A N/A "fA
l.l'l! Aants..Jlva dete 9 10-/03 8/13/03 10/03
Da.a .ourca , Inspection Inspection C.P.M.L. C.P.M.L.
I ~i!~%i:it AM' ~onceS~OM None noted None Noted None Noted None Noted
, None noted None noted None not.ed
:::::;::: DaSC<~tID<\Qj 'Unit. 2 'Va<: 0 II Units 2 , Vsc.O Y'_BII;1842 , Units 2 , v.c.1 Yr,BI,,1920 'UnllS 2 , v.~_l Yr.BIt:1880
::;:i:::: proparty-uMS. Yr.BIl.: 1965
dastgn..ppe,l, Du"'lex 2 Stv/Dunlex 2 Stv/Detached 2 st'''/Dunlex
.......... aga.vacancles. Av ra,.,.e/A.........-al Good. a~"""al Avera e A.......eal Avera....e An>"\eal
andcomilllons Averaae Conditio Good Condi tio'" Averaae Condition Fair Condition
Iii,
lii:1 Am. Count Size Am.Coont Size Totlll Am. Count Slla Total Am. Count Size TOtal
.., " Bath SQ.Ft. TOI Br Bath Sq_Ft. MoothlyAen. Tot Br 86th SQ_Ft. llAonthlyAeflt Tot Br Bath SQ,FI Monthly Aent
Ilj~J ,,,,,,"",, 4 -,- 050 4 1154 600 4 1 044 o 7 2180 0
Unit
breakdown 4 1 050 4 1118 600 4 1 044 450 5 1 560 550
Water Water Heat Heatr
Se....er Sewer Sewer/Water Sewer
Utlli.;as. Trash Trasb Trash Trash
t~rnilUrn ar.d Ran....e /OVen Ran....e/OVen Ranae/Oven Ranne/OVen
.menities
includedin'ent Hes.t 1-...,. Tenant Heat mr Tenant Refrinerator Water b" Tenant
i) Elee.Bu Tenant Elec. bu Tenant E1ee.'h<.r Tenant lilee. b," Tenant
Crawl s...aee Part /Unfinished Full/Unfinished Part/Unfinished
Func,iooelutihIV. Aver~~~ Utili~r Avera....e/Utilitu Averaae Utili~" Avera""e Utilit.;
b....emanl. No Air Condo No Air/Cond. window AC' s No Air Condo
he.tlnglcO~ing. B.B.Elec Avera e Elee/GaS/A'''''''--- Gas H.Air/Ava. Hot Air Ava
P'oie<:tamanities.e.c
None None None None
Off St. Park Off Street12 Car Gar off Street/2 Car Gar Off Street/3 Car Gar
II Analvsi. 01 rental dBla ami support 101 estimated market rents for lhe il\dlvK!ual subjact unit. [Including the adjuslmants used. tha adeQuecy of compe'abies. rental ~oncassions. etc.l
Rentals in Meehaniesburn are ~ood.
.::>ul.Iject s rent schedule _ Tha ,enf .chadula rl>COociles the applicable Ind.,ltlld monthly mlrket rents to tM app.oprilte subject unl!. and provlda~ tM eStimated ,M'. fo, Ihe subjact
orope<tv, Tho!. al1P<a<S8f mu"-t 'a~_ tile ,\lilt Ch"ac,STi>.,lCS 01 ,he comparwla .1Il1. to determ,"" ....heth... es"mated rems sMuld rafll'Cl .ctual or ma'~at raniS. ~or exampl8. if .ctu,1 'ents
were .vallabla on tho sales comp.,ab.._ and ~ed to de,iva tha g'oss ranI multlpliet IGAMl. aClual rents for lhe subjact should be u.ed. II markol ,ants ....are ueed to ~onstruct the "omp.<able~.
'em. and d...ive Iho GAM. mlrkal rant. .hould be usad. Tha IOta! grOSl; estimlted ranI mU_1 represenl ronl ch","cteri_tlcs con,.;stent with the sales comp,<able datI used to derive the GRM
Tha 10tal g'os~ estima.ed 'enl Is nOt adjusted 10. vlIClncy.
LEASES ACTUAL RENTS ESTIMATED RENTS
Unit LeaseOate No.Unitl Per Unit W. P",Unit TOll1
B.egin ''''' Vacant unfurnished ~utni""ed Aants Unlurnishld Futni.had Aents
1 N/A N/A o . 400 $ . 400 $ 575 $ . 575
1 N/A N/A 0 400 400 575 575
, BOO , 1 150
r~l!lIO"" moo"" '"oom. ,".m"., None noted , -0-
VaCI>I\CV: AClllall'Sl yea' 0 "" PreviOUS year 0 "" Estimallld; . 02 "" $ 276 Annu_HV TO'Ialgr"""llSlimatlld'"",, $ 1 150
Utiliilesincluded ine.tlmated r;;;- 0 Elactrlc 0;:;:;- ~ Sewer ~as DOli !i1T,ashCollectiOn 0
~i;]iri;U Comment. on rent ~ch~uta. aClUel rants. estimated <ents leweciBllv regarding dlllemnces bet....ean actual end estimated <ant.l. utilities. etc.: Rents for sub; eet are
low for this area.
{{;
'{.
'{
,,;
{>
;t,
"
r.<!diaMa" ~o<m 72110/941 1JIC$,a~onofACIOavelopmenIIBOO1697-17B:) P'ge30f4 FannieMa. ~o,'" 1025 1101941
MAR v .., HilBERT & ASSOCIATES File No. 03 -684M1
OPERATING INCOME STATEMENT
One-to Four-Family Investment Property and Two-to Four-Family Owner-Occupied Property
Property Address
2-4 Holly Lane Mechanicsburg PA 17055
Street Citv State Zip Code
General Instructions: This form is to be prepared jointly by the loan applicant, the appraiser, and lender's underwriter. The applicant must
complete the following schedule indicating each unit's rental status, lease expiration date, current rent, market rent, and the responsibi!1ty for
utility expenses. Rental ligures must be based on the rent for an unfurnished unit.
Currently Expiration Current Rent Market Rent Paid Paid
Rented Date Per Month Per Month Utility Expense By Owner By Tenant
Unit No.1 Ves !Xl NoD $400 $575 Electricity.... D [j[]
Unit No.2 y" [j[] NoD $400 $575 Gas.... .. .... D D
Unit No.3 Yes 0 NoD , , FuelOil. ....... D D
Unit No.4 Yes D NoD , , Fuel {Other). D D
Water/Sewer. D [j[]
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 800 $1.150 Trash Removal. D [j[]
The applicant should complete all of the income and expense projections and lor existing properties provide actual year-end operating statements
for the past two years (lor new properties the applicant's projected income and expenses must be provided). This Operating Income
Statement and any previous operating statements the applicant provides must then be sent to the appraiser for review, comment. and/or
adjustments next to the applicant's ligures (e.g., Applicant/Appraiser 288/3001. If the appraiser is retained to complete the form instead of the
applicant, the lender must provide to the appraiser the aforementioned operating statements, mortgage insurance premium. HOA dues.
leasehold payments. subordinate financing, and/or any other relevant information as to the income and expenses of the subject property
received from the applicant to substantiate the projections. The underwriter should carefully review the applicant's/appraiser's projections and
the appraiser's comments concerning those projections. The underwriter should make any final adjustments that are necessary to more
accurately reflect any income or expense items that appear unreasonable for the market. lAeal estate taxes and insurance on these types of
properties are if1cluded in PITI and not calculated as an annual expense item). Income should be based on current rents. but should not
exceed market rents. When there are no current rents because the property is proposed, new, or currently vacant, market rents should be used.
Annual Income and Expense Projection for Next 12 Months
Adjustments by
Income (Do not include income for owner-occupied unitsl By Applicant/Appraiser Lender's Underwriter
Gross Annual Rental (from unit(s) to be ref1ted}. . . ...... ... $13.800 ,
Other Income linclude sources I .. .... ............... + -0- +
Total .... $13.800 ,
Less Vacancy/Rent Loss.. ................ ..... - 276 ( .02 %1 { %1
Effective Gross Income. ............... $13.524 ,
Expenses 100 not include expenses for owner-occupied units}
Electricity. ..... .........
G.,
Fuel Oil
Fuel. . . .. . . .. (Type- {
Water/Sewer. . .............
Trash Removal ................
Pest Control .........................
Othllf Taxes or Licenses
Casual Labor .......... ......... 175.00
This includes the costs for public area cleaning, snow removal, etc.,
even though Ihe applicant may not elect to contract for such
services.
Interior Paint/Decorating.
This includes the costs of contract labor and materials that are
required to maintain the interiors of the living units.
General Repairs/Maintenance ......... 113.00
This includes the costs 01 contract labor and materials that arB
required to maintain the public corridors, stairways, roofs,
mechanical systems, grounds, etc.
Management Expenses
These are the customary expenses that a professional ffillnagement
company would charge to manage the property.
Supplies. ......................
This includes the costs of items like light bulbs, janitorial
supplies, elc.
Total Rep/acement Reserves - See Sc~edule on Pg 2 406
Miscellaneous
..............
.....
.........................
Total Operating Expenses. . . . . . . . . . . . . . . . . . . . . . $694 ,
Fredd'e Mac Form 998 Aug88 MCS,Flich.'dsoo. TX75081 {2141889.7783 P"geTo'Z MCSFormOl2
Fonn;e M8e Form 218 Aug 88
-----
MAP' - HilBERT & ASSOCIATES
REPLACEMENT RESERVE SCHEDULE
Adequate replacement reserves must be calculated regardless of whether actual reserves are provided for on the owner's operating statements
or are customary in the local market. This represents the total average 'yearly reserves. Generally, all equipmant and components that have a
remaining life of more than one year-such as refrigerators. stoves, clothes washers/dryers, trash compactors, furnaces, roofs, and carpeting, etc.-
should be expensed on a replacement cost basis.
Equipment Replacement Remaining By Applicantl lender
Cost Ufe Appraiser Adjustments
Stoves/Ranges. . @ $450 ea.-;-~Yrs.x2 Units", $50 ,
Refrigerators @ , ea.-;-~ Yrs. x Units'" $ ,
Dishwashers @ , ea.-~ Yrs. x Units = $ ,
AIC Units. @ , ea. - - Yrs. x Units", $ $
C.WasherfDryers. @ $ ea'7_ Yrs. x Units = $ ,
HWHeaters,... . @ $250 ea.7~Yrs.x2 Units'" $27.78 ,
Furnace!s). @ , ea.-_ Yrs. x Units = $ ,
(Other) . @ , ea.-;-_ Yrs. x Units = $ ,
Roof. @ $4,500 -;. ~ Yrs. x One Bldg. '" $180 $
Carpeting (Wall to WallJ Remaining
Ufe
(Unitsl 233 Total Sq. Yds. @ $ 12.50 Per Sq. Yd. -;. ~ Yrs. = $194 ,
1PublicAreasl Total Sq. Yds. @ $ _ Per Sq. Yd. 7_ Yrs. = , ,
TOlal Replacement Reserves. (Enter on Pg. 1) $452 $
OPERATING INCOME RECONCILIATION
$ B.524 ., 671 = $ 12.853 ---:. 12 = $1.071.08
Effective Gross Income Total Operating Expenses Operating Income Monthly Operating Income
$ ., = ,
Monthly Operating Income Monthly Housing Expense Net Cash Flow
INote: Monthly Housing Expense includes principal and interest on the mortgage, hazard insurance premiums, rear estate taxes, mortgage
insurance premiums, HOA dues, leasehold payments, and subordinate financing payments. I
Underwriter's instructions for 2-4 Family Owner-Occupied Properties
. If Monthly Operating Income is a positive number, enter as 'Net Rental Income' in the 'Gross Monthly Income' section of Freddie Mac
Form 6S/Fannie Mae Form 1003. If Monthly Operating Income 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 subject property to the borrower's stable monthly income.
Underwriter's instructions for 1-4 Family Investment Properties
. If Net Cash Flow is a positive number, enter as 'Net Rental Income' in the 'Gross Monthly Income' section of Freddie Mac Form 65/
Fannie Mae Form 1003. If 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
borrower's primary residence to the borrower's stable monthly income.
Appraiser's Comments (Including sources for data and rationale for the pro;ections)
Data was supplieedby the OWner
~ ~;L
Mark E. Hilbert ~~ October 20, 2003
Aooraiser Name Date
Underwriter's Comments and Rationale for Adjustments
Underwriter Name Underwriter Si nature Date
F'e<ld'eMa~Fo<m998Aug98 MCS, AI~h8r<::l.0Il, TX 75081 1214) 669-7783 Pag.2012 MCSFo,mOI2
Fannia Mae Fotm 216 AlIg 88
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower:. File No.: 03-684M1S
Prooerty Address: Case No.:
City: State: Zip:
lender:
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date:
Appraised Value: $
REAR VIEW OF
SUBJECT PROPERTY
I
~F STREET SCENE
;II'll"...
if~
~~l.~~'
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: . File No.: 03-684M 1 S
Property Address: Case No.:
City: State: Zip:
Lender:
COMPARABLE SALE.1
I.;
Sale Date:
Sale Price: $
;~S~
-, --
y
\ COMPARABLE SALE.2
Sale Date:
Sale Price: $
COMPARABLE SALE.3
Sale Date:
Sale Price: $
1\~~)~r::r::~::1i> '~' u "&':'''.1 ",if/~Jl:r:s:'::'?:~:'f,':a~.-"~:/~ ~~l'~~' ' o~~:'W;:'_ ~I:::-
;,\le' ~r ~. ,--l!~j.4$ :;~, y; .,%. '" 15" . '" ..~ .
~ \~Y. .;;":' .' ~ 7 .-:~-< '~~:i" ,~/ -~ c..'J~~~ ~ Q 2- .-- -- - ---.o-~
~~'~' ,~l ~";fCITS" 'J;r~'fjA~~~ ~- 'J~~l(;.J ~l ~l '" 1~!,r "',y
,,~ :~ _1''- '~,"> >v:.'t~;, ~ I ~ Ji )4,
I., ,0' 't 'ii{,{';? ~!l'il. .. ' 'J> .' ,,r,", ''':'''' i l ' '
\ ... .:'" " /. <~ "i-~~, ...'~ -~:' "1 "~,~ ~.~~ ~1
,\ ;'';'" / l:SZJ' 'oj ~ "\Z" I. ,.., j~ ., I '--
~.,. -- ":. ~ ,<-,] -- ~ "& ~ , ~. ,~
~ ~ ---"\: ."... - " $4; ,~.. '"
.f\' I''h~ '0.' . " ''\.. .~. ~", '\: i
) J /T )~... ".., '..- . ,_.)..-.. 'llA .... ,1;" \i'
1.'.'" .~',~ ..!~ ~ ~~ '" I'C 1
'.J 0: ,'.' "', "d'f.~-T~.l' , '..
'i- '<l \. ., .. . \\. $ . C .'" 'to
... .. .. .,-\ .. ~ '" ~ .. .. ..
, '" .. \ " ~ "i If'" .~! "". '; I .,'5:
.... ( , .' I 11: ". h .. ~ J
" '.' "0" _' ~ 1 '\\I\~' ~k~Sj WP,T r ""i:",. .-. ,.--
B '".'i}). "'!1d ~~ ~ .(." v. /~~
"f....-, ..~:o'''..... J~ '> ~l'\ . )
#." ...."\('l:,,, ~~~,\" . " Jl~ '"-I ~ ,\.,- "";J . - "
~ '\ \:;' 'Oi",~,~,~ i \\ ~ - ) c;
'," , . ~'ifg: '~~'\'..,"..o' ',,.,,w ','" ,', ~ _'~J:.' / "~.7[). <~".jL
. " , ,', "", ,"" ~ ' '. 1, .V
. -.. '.,'l "'" ., .. ri .....--- " ,,' ....
~./;>: f~: ,::,,', ."" " ~I~ "L-' ~\, ,: V ~~" '." I/~(' ~ 'c\,.j _.'
I ' "Y.. l ,'. ."\f:\1"'\. II" ,., ,. ,
," ~ " . -'"" ,], . ';, i i\.\)~, ",,~" iH;j ,
;~""C,~, ""' .",,; " ',,":il'", '" t 1 ';1) ;] ~ ~_J\ '
'...- . / '\ ~. ......, -cWJ . r~\' I^J:' -'1'
~~.? ~''-1= \~, ;:;:' ~. " . ~\1~ !.E~.~,'." 1,.J0'< i ~~) \.. ~/" .~
'~ ..,.., r,;;4.. 'l\\ \" ~V .,
.r- ,.,-.c.; '" ,oO! .. .... I f
/ , ;? '!l"" ~ :' ,~ . =-, IY', ~ Y" ~ . Vo'
..'.." ," ~~~' ' '
.,.." "...,' \
,\t. "," .- , '~ ......~ . '" .
c..~., ~. . """"," \
p... ___. I """ ,,' p - '\. .---' ,.> ,,0"<> .,;$t ,/'; \ "
;" -"' _.-/J ~,...'" - --- .. "'. -""'.
.;" ~; '...' ~'c\ '",~< A'J~ f ~~,.r
~~. ,., " , " ...,
S~~~ Y. '<-' I ~.'1:"; ~ :>\. ~ \Q. ,"-...,..,,)~ ".... "",,
,~~ ~>..~" _'''-.---='_ . . ~"V~,~ );
" ,,\ ~/I I ,,' ~ t"Il:&.. ..t~=::.r-} J <-
)1" ~~y; ;",.- /0~ .Ii< ff ..., ~;~';: / ~,T\' (
~" .. II n 'ff' 'E .-71 ,'...:...';t'
l"l'~1?5~ \l\l.;t~!~ ~~/J1 ~~~ ~.~., ~:." ii,' , .:\1 Iit\/\~' ~~~/
..." .t~ ~!o~J-(' ~ i> ~ " " . ;1. \~~i~'j)
1",1 . ,/ ::..~::;;-;;;; ':"~~.;JA'. j; ~" ,}. " .. ~~'~..~. ,'0 ." ,/,(~:,\ "h
~...~ ~~~.-: ~' - ~ '''" ---~",./ \ ...~
ii.~"':i? ...,r;;p- ~ "!I ..... ' G)j\~ (" .' ,
. ./~~~", "'lI' '~'i:.;:I , 'Il\'. ;o\t.:V. "'~\. '\ ,"" \
"".'f' '" :l~ : ~~ ..f,( i\\~" ~,
.'" .!.,' _, ~ ~ - " . ~ '\O~,\, ':~-:i-'~"
.. 0\ .A. .,. = ~u! w' "--r
;# ~ V~',* "'.,. (f -,,, -..; " ,
~~ I",,?F ',.R ~" .. II fiL .. ", \ ~ ' ,,(
fil ~ .....'. ~iv- .~ I ~ il /: ~ . ~ '
..... _------- . _ . _ <... _ /- ~1 . 1:1 "... if ~,
. iiii~~', .~,""o",...1\,~.Q~ J~.)2 "\.,~'i) !I'~(
y--' .... ___ _ ,r,....,.,. J All d'l',* t--.', AI ,,'''') "M ~
, ... ... ,"P"'I ,'"" I)". I "'\ \ ','
~~~-;. ::'-.1) j.:i;:,,;''''''' .. f,~ f\ '.4" ~" ~ r.. ./ ~-:.
1'., ..... ~ ~, !!!M~;llY~! \~ .i!J~\ .fJ\lr:\1, ~ ~t~v \ ~l ~~
(, r. 3"~ /; . - ! , "~1f. f:;t:i "Y: i-~ X\ g;. ,,}.;f) ) "j,'.....
~"'~=-<~~ I... ~' ~':::::j ~ \ ..", ~ '\ . c ';
; >~l~ti ,,','~ :W~~\\ti~~~~r: ,,,"he >,,,~_.
, H.,r:. , ~ Wl h1,{~ [J5) c"
/ ...../~:Yl', i-' I if :;"~ i.. .,.~.eo-
,., /~. \~ ~ ':"4d.,,: r..';: " (;>' .'l-~~ \ el~? \
, ' .~* t ./!. _ ~~ ,,- ~ q.' "' ..,.' Ji'''''....----..'
.~ .\~ I' \~\~" .~ '"', ~F:~.;" ,/~. >(;0 _ '" /'
:;.i '!~ ~~A Jt. j;;::: 1$ '\\ \,\ ~ '! ~~;) : / i.\,. .c/
;;.~. 1'\,l\~,' ~-.., ~ J\:""" il ~ ~ I! ,',,' 1.>-'\
o;:"b ~ i=:'. ", .< 'S~I .'''.0 t{5 I
<<<::;..~. .' I,f~orr... . '''~~'l!, ' ,u '"
~50" ~-V- , i I .... . '. ,
."..__p -,'. .'" . .'_ ___ I.... \ ",_,.\','.':.-a'"... \ '
-' . '. :' , ' . "-'. '
/ . ,.' '._." 0 0 .. .:;:
,/ ~ '!"!" ~ 1'#7.( \l'..:s>;,.~". .il ~
' J.' ',~~. · .".
=_~~ ~ .. 'I ~~ T'" : U
_~ . ~ l7'~ ~
." / .,..,>\t I ~\ ,(,"" ~ ' . l': I .., '\L.1'" ". ~~". ~~~ \l). ~,'.,
_'"-I ))' ~'~ ::", tt _,.,,,- . 'I' fl"/>, . '.', Y'= "
y IIIl' .' ,_ . .... ;\ ;\~ __ .fIJ \
~,off /~ 11 ,>, \ .~ ~ I' """.$'--,... '-oJ'" 11' '-----.h-
cO ./ -.. '"'ii "'iL.
./ ~, ." rd.-;.v '...,
/--/:.., . ,/~~t w'~ "'... "W~ Ii t1 "c\::l i
MARK E. HilBERT & ASSOCIATES
APPRAISAL REQUIREMENTS
MANDA TED BY FIRREA
I certify that the appraisal conforms to the Uniform Standards of Professional Appraisal Practice (USPAPl promulgated
by the Appraisal Standards BO<lrd of tha Appraisal Foundation.
The subject Ofis) ~ (is not) listed for sale, the listing price is $ My estimate of the reasonable marketing
period of the subject property is
If an approach to value was not used, the following is an explanation why it was not considered.
Cost;
Market:
Income:
The appraisal assignment Olwasl IXI (was not) based on requested minimum or specific valuation or on the approval
of a 108n.
Dlhavel QQ lhave nol financial interest in the loan transaction and do not stand to benefit in any way from the
value placed on the property.
I IX] (have) 0 (have not) included a separate assessment of personal property. fixtures. or intangible items which
are attached to or located on the real property. Thase items Dido} lXI (do not) affect the market value of the
real property.
Any creative financial or sales concessions that are known to the appraiser have been adjusted in the comparables of this
appraisal.
In performing this appraisal. I was not able to review the:
Taxes (insert N/A if inapplicable I
Deed
The above items should be obtained by the lender when reviewing the appraisal report.
This appraisal was dona with an "as is" market value. This is the value of the property in its current physical condition
and subject to the zoning in effect as 01 the current date of value.
I certify that I have the appropriate knowledge and experience that was necessary to complete this assignment.
~~r October 20, 2003
Madt . HillS DATE
This appraisal report confor.ms to the uniform Standards of Professional Appraisal Practice
(USPAP) adopted by the Appraisal Foundation.
The builder/seller is paying % points ($ )
and/or $ in concessions on the subject property.
The following personal property, fixtures, and/or intangible items are not included in the
appraised value but are a part of the sale of the subject property.
ITEM ESTIMATED VALUE
1. _H/A
2.
3.
4.
It should be noted that the appraiser is trained in the valuation of Real Property, not
Personal Property, therefore, the above estimated values may have dicrepancies fram real
value.
Forrnfll MCS,. OiV;SICllCIACI Oe""lcpr",mt 1800) 697.7783
-- -
MARK E. HILBERT & ASSOCIATES
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
r. r have researched the subject market area and have seleGted a minimum of three recent safes of properties most similar and
proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when
appropriate 10 reflect the market reaction to those items of significant variation. If a significant item in a compar<:lble property is super-
ior to, Of more favorable than, the subject property, J have made a negative adjustment to reduce the adjusted sales price of the comp-
arable. and il a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a pos-
itive adjustment to increase the adjusted sales price at the comparable.
2. I have taken into consideration the tactors that have an impact on value in my development of the estimate of market value in the
appraisal report. I have not knowingly withheld any significant information from the appraisal report, and I believe, to the best of my
knowledge, that aU statements and information in the appraisal report are true and correct.
3.1 stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are sub-
ject only to the contingent and limiting conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective per-
sonal 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, sax, handicap, familial staws, or national origin
of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the
vicinity at 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 lor performing this appraisal is contingent on the appraised value of the property.
6. I was not required to report a predeterminea value or direction in value that favors the cause of the client or any related party,
the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
Gompensation ana/or employment for performing the appraisal. I dia not base the appraisal report on a requested minimum valui:ltion, a
specific valuation, or the need to approve a specitic mortgage loan.
7, J performed this appraisal in conlormity with the Uniform Standards of Professional Appraisal Practice that were adopted and pro-
mulgated by the Appraisal Standards Board 01 The Appraisal Foundation and that were in place as 01 the effectiv6 date of this appraisal,
with the exception 01 the departure provision 01 those Standards, which does not apply. I acknOwledge that an estimate of a reason-
able time for exposure in the open market is a condition in the definition ot market value and tile estimate I developed is consistent
With the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section.
a. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as com par-
abies in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements,
on the subject site.or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments
lor theSe adverse conditions in my analysis 01 the property value to the extent that I had market evidence to support them. I have also
commented about the effect at the adverse conditions on tile marketability ot the subject pJOperty.
9. I personally prepared all conclusions and opinions about the real estata that were set forth in the appraisal report. If I relied On sig-
nilicant professionai assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal
report, I have named such individu~l(s) and disclosed the specific tasks performed by them in the reconciliation seclion of this appraisal
report. I certify that any individual so named is qualified to perform the task.s. I have not authorized anyone to m<1ke a change to any
item in the report; therefora, if an unauthorized change is made tQ the appraisal report, I will teke no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraiser 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 lor the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: 2-4 Hollv Lane, Mechanicsbura, PA 17055
APPRAISER: ~~ SUPERVISORY APPRAISER lonly if required):
Signature: ~ Signature:
Name; Mar~ . il Name:
Date Signed: October 20, 2003 Date Signed:
State Certification No.; RL-000388 L Stat6 Certification No.:
or State License No.: RB-029755-A or State License No.:
State; Pennsylvania. State:
Expiration Date of Certification or License: 6/30/03 EJcpiration Date at CertificatiOn or License:
DD;d o Did Not Inspect the Property
f'.dd" Macftlrm 439 6-93 MCS, aOivision"fACI Oavaloprnellt(8001 697.7783 MCSf<><mLCS Paga2"t2 Fannia Maa F,,'m 10048 6.93
QUALIFICATIONS OF APPRAISER
Mark E. Hilbert, CRMA, ICA, GRI
Broker Appraiser
Education:
Real Estate Pennsylvania Title Insurance, Harrisburg
Real Estate Theory and Practice
Real Estate Law
Real Estate Math
Real Estate Appraisal I
Real Estate Advanced Appraisal
Standards of Professional Practice Part A
Standards of Professional Practice - Part B
Market Extractions
Fannie Mae Review Seminar
Professional Memberships and Designations:
Senior Member _ International Organization of Real Estate Appraisers
American Fraternity of Real Estate Appraisers
Graduate Real Estate Institute
Candidate Appraisal Institute
Harrisburg Board of Realtors
Pennsylvania Board of Realtors
Pennsylvania Association of Realtors
National Association of Realtors
Pennsylvania State Certification Number - RL-000388L
Experience:
C.M. Detweiler Real Estate Inc.
March 1971 to April 1976
Stuard Derrick Real Estate Inc.
April 1976 to October 1981
RE/MAX Realty Associates
October 1981 to February 1986
Mark E. Hilbert & Associates
February 1986
ReaJ Estate License: March 1971
Associate Broker: April 1976
Appraising since 1979
Appraisal Experience:
Appraisals for: first mortgage, second mortgage, equi ty loans, employee
transfers/relocations, single family, condo.
CUmberland, York, Dauphin and Perry Counties.
Completed Assignments for:
Banks. Savings and Loans, MOrtgage Brokers, Relocation Companies, Trust
Departments and Attorneys.
Client List available upon request.
----
File 03-682M1
APPRAISAL REPORT
of
9-A-B-C-D Rockledge Drive
Mechanicsburg, PA 17055
PREPARED FOR:
Charles E. Shields III Esq.
6 Clouser Road
Mechanicsburg, PA 17055
AS OF:
August 31, 2003
PREPARED BY:
MARK E. HilBERT & ASSOCIATES
14 North Walnut Street
Mechanicsburg, PA 17055
MCS,a OiVlS<<Ul<:JIACl D"'WJl<Jpm8nI/SOD) 697.nS3
~.
MARK E. HilBERT & ASSOCIATES 'ii, No 03-682M1
SMALL RESIDENTtf \JCOME PROPERTY APPRAISAL REPORT
T:7T fI,,, ert Address 9-A-B-C-D Rockle;jr;e Drive CO! Mechanicsbur PA Sr~le PA Zi"Cooe 17055
lile alDe.cri rion Attached COunt Cumbe""land
Ass.ss""Sf'arceIN Ts><Ye", R.E.T.><.s' 5 CioIAssess",,,,,," ,
Ne t1ba,hoodo,P,oectNam Silver S~i~T:.;;...:shi""- M Reh"ence c. sTract 118
!l"lrowsr Pi....her Geraldine fESTAorE' CurranlOwner Same Occu ant -11 Owner fil-:;'enaol I Vacant
fire en ,i I". a raised i1F"" 'OJ;;;:;; T Leasehold I Pr..,;acl T""" n PUQ n Coooominium HDA t !Ma.
Sele.P,ice S Estate DaleolSale N~ o.s",; tionand $ arnoonl of loan che esJconcessions'ol>il aidb"sel* N/A
::.../ L.ndettChen, Charles E. Sheilds III Bsn Addr_ 6 Clouser Road Mechanicsbu1:' PA 17055
i A. ,ais., Mark E. Hilbert Addran 14 N.. Walnut Street MeChaniCSburrr.. PA 17055
LOC,uiOJ1 -n-Ulban ~ul>,Jrban -n-Rural ~-....... Singlefamiyohcusing Pradon>inlIm; 2-4 fa<nilv haus;ng
biD IS' bJO ~F~ PRICE AGE 2-4family PRICE AGE
':,Un:: BULlt up Ov",7S% 00 25,76% Und"r 25" Oecupancy $ {OOo) {yrsl Occup;w:y $ {OOO) (y,sl
){5 Growth,sta 0 Rapid iii Stabl" 0 Slaw IJQ Own"r 80 lOW~O 0 Ow...... 80 law ~
'{Si:,::: P'op"rtyv~lu"s [i/lnc,easlng DStab,,, Oo..cIIning DT"nam H,gh [XIrlllWlt HL\lh
P'''dominant P,edaminant
,: O'm'~"""'" R""''''' ~ 'o.,,'~. R O..~"'. i ~ V~o,,,."' ~ ~ V,,~''''"' ~ ~
M.f~etin~tim" Un"ef3 mQ., X 3-8,,",s, Ov,",Smos. V8C~nl'over5%' 130 20 Vacanl 'ov"r 5%) 130 65
Typic.ol2-4famaybldg,TypeDetached No,stories---L-- Na,unilt 2 Age ~yr., "'-ttland...~ Und,-ch8ngio
Typical,ents' .!1L.la $ 675 [iJ Incraa,.;O\l 0 Stllb:;-O DecliniO\l Onel.mlly 55 0 Not likely iii Likely
Elrneighb<>thaooapt,vscancy.02 ",D,ncreasing lliIStable o DecHniO\l 2-4f.mlly 12 Drnprocessto,
Rent controls 0 Yas [i] No 0 Llkaly l'yasarlikely,desc,lb8 Multi.tamily 03 Residential
CrJffImercilll 05
t::=:::) I Vac.) 25
[,'!',i:':!!.': Nl>1e,RBooanddlolraWl~d"",~_~"""...I-.....
5>> Ne'ghl)OrhOOd b<>uooa"a. and charilctenS\lCS: S1Jb-lect nr.......ertv is located alonlT Rockledne DrivEl in Silver Snrin.....
:)>{~ Townshi'" Cumberland Count,. Penns'U'lvania.
1111'11 ,,,'"" ,." ."", '"' m"""""'. 0'''' "O","'~ '0 '"' o,,,,oo"_I''''m'.'' ~..._, __~.. _~. "m". __ ..~,... ."
Sub4ect has easu aCCess to ma40r lfi.....hwa,.s Schools Churches ........l...........nt sho......in... adn recreat:\.onal
:/:::,' areas
II!!!
Therollow,ng avaIlable listings 'BP,.senll"" m<>Slcurrent. simri...iVI<I proximalecarnPllbbve properties 10 Ih.subject propeny in the subjecl neighbarhoad. This analYli8i$intafldedlo
8villua,. the IfWMl'ory CUT,enlll' "" lhe market camJlating ....ilh ,he subject "'opeIly in the subjecl r>8lghbarhood and recant price and ma,ketlng lime trends affO<:l;ng the subject propeny.
ILi."ngs oul;ida the SlJbiect neighborhao<l at. natCllOsldared applicable). Tho~8tingcamp",.bl88canbe'enI8Ior.a\ecomp8rabl...iflheyilreclJtrently lorsal8.
11::1 ITEM . I SUBJECT r COMPARABlE LISTING NO. , I f"'OMPARABlE LISTING NO. 2 COMPARABLE LISTING NO. 3
~;s 9-A-B-C-D. RO!l~ledge D~iV;, ~6603 Carlisle Pike 440 Market Street 18 South 18th Street
A.ddress Hachanicsbur'" PA New Cumberland PA Camn Hill PA
IIFIHli-:-li~ F'roxuM to.ubeCl 1.2 Miles 5.5 Miles 4 Miles
1", JJ1~A"C8 8 NAg Un/. I Furn, . 95 Dna I [;l Unt. n Furn, . 118 000 Xl Un!. r Furn. ,139 700
A ax,,"a,. GBA 3.t 80 3 740 2 610 1 655
E\F Oat.s<>urce Ins--=-ection C.P.M.L. C.P.M.L. C.P.M.L.
r:t:: #UnrtsfToUm./BR/8A 4 11618 14 2 -'12 -T6 -T3 3 12 15) 3 12 14 13
A 'oxima.a"ea,bu~{ 1985 1880;1- 11120+/- 1930+/-
~,fi.:::: AMmx.da'.. on mar.OI 'ii/A 116 130 153
H;,J Cump~"s.on of Io.""g. to $Ubja<:1 p,aperty: Listi~"'.1 is in need of ~"""rovernents has shared furnace 3 car naracre.
Listi"'- 2 is a 3 sto-.- buildi~ in a "'cod location. Listi~ 3 has -----= or curb anneal in a .......od
locati=""n.
:;~:i::: Mar.ut candilion. th.[ .ffect 2.4 family proparties in !he .ubiect nOlghbachood Urv:ludi"lllt\R abov" ...,;ghborhoad indicaco'. 01 growth race. properly value.. d.......nd/.upply, and morketlOll .iml)
and t""prevalence ""dimplct inthesubjectm8rketar.aregardi"ll(uandiscaunt..inlerlstooyUownsllOOc<tnOJSSi""".lNIdidtmUlk:afior>Q/trll:fld'inllstin{jptiI;tM,a""rol.lBdal'.OJIlhemarket
and any change over ~.t yea[. elc.' There is a stead.. ..........1 of buuers for ...r......erl.. ~riced ~r erties.
III
Ii;'i
Oim;msions See Attached Deed. Topography Level
Sitea[aa 1.89 Acres C"'nerlot ~NO DYas Size 1.89 Acres
$pill:;ific zoning clas..hc..ian and d.5C[;Pli(j(l R~'::-idential Shape Rectan.....lar
Z""'ng comp".nca iii u.gal 0 u.gal/Not><:onto,ming IG,_lalher..,; us,,, --- allegal 0 No zoning Drail\egl lIc..,nears Sa tis facto"'''
Higho.l & beSt uSlO as Imp,oved: ~ P"'l>ent usa 0 Other use (eXplain) Vlaw Residential
land..,oping. Ade.....ate
0_ Public Olh8r Oll-me""",-- Type Public Privata Driveway Macadam
Electricity IiJ 4-200 ,,-:. SIlIMlI Macadam ~ 0 AWBlenleaSernants uilities Ii: Drainaae
G.. 0 Cu.rbJgutlar None B 0
Wat8r iii Sidew.lk None 0 FEMA. Spacjal Flaoc:I H..art! A'ea 0 Ye. Ii} No
SMLJta'ysawer ~ Streetlights Yes fil Cd fEMAZMI C Mao08f93-3-92
$[",," sewer Ixl Aile None t 1 I t fEMA M.~ No 420370
Cammams lappa"",. adWN'" HSJom!!ms. "nuNct>mams. special ~ts, oIid& .ra.s. illllU81 OJ ieg.. n""confarmlng zoning. u.... .tc.l: None &'n'I"\arent.
Sub-lect however to reservationq easments conditions and ri.....ht of wa" of record.
Ifill
IHiT
II/if
Froudl. Mac Form 72 110/941 MCS, . Division of ACI Development {BOOl 697.778] Page I 014 Fanme M.... Form, 102s..I~0I941
MARK E. HilBERT & ASSOCIATES
SMALL RESIDENTtA~ .,~COME PROPERTY APPRAISAL REPORT
Geoe<aldescription &t...iordasaiPtioo IMalerialsJcOl'\ditionsl ",""","00 fn=ulll1ion(R..v;Weit/rnmml
Units/blllys. 4 !l Foundation Block Slab None DRool
SlOlie. One fxtenorwaUs Brick C'8wl:opace Partial !i]Ceilinll
TypeldeUaIl.l Attached Aoof'ur'ec. Comnosition Sump Pump 2 2Floor drains IilWells
Oesigr'/"v/el Ranch GuttafSldwn.p.. Alumin1.UD Damp:>ess Nane Annarent !i]Floo,
bi e..."nglp,opo<ed Existin..... Window type Double Hun" Senlement None Noted O~oo
Ur>de,con'''uCli"" No Storm sashlScreens Double Pane Infestallon None Noted AcIequscy
"(ear Boii' 1985 Manul;lCt"tedhousing' DYes ~N" Basement 1L %01 1st fluor...... Ei1",gyelliciemi/Bms:
Eltectiveilije(y<s.) 6-8 '(Complies with the HI)D MaoulitClUredHousill\l Basemen,linish Unfinished The..-..........anes
ConslructianandS.tetySlandards.1
UnitS Levell.i Foer Uvin Oinil1 Kitchen "'" Falnil 1m. BedIm 'BthS lllllnd Othel ~~ ft."'nit TOfalf/
1 1 1 Area 1 2 1 1 Stn'. 840 840
1 1 1 Area 1 2 1 1 StN 900 900
1 1 1 Area 1 2 1 1 St..... 900 '00
1 1 1 Area 1 2 1 1 St"". 840 840
1m IOVem ntoconl.,n 16 Rooms' 8 E1e~loom(sl' 4 !lathlsl' 3 480 S~uarafeetof GROSS BUILOING AR;EA
GROSS BUlLrnNG AREA (G8A} IS DEFINED AS THE TOTAL RNISHED AREA (INCLUDING COMMON AREAS) OF THE IMPROVEMENTS
ILW BASED UPON EXTERIOR MEASUREMENTS.
Ira "rl~ IMate,lals/conditlcml -.. lCiu:h"n........(.I\.wIil-<:ood.J 'rno CarStor_ No.Ce's~
Floors Hardwood "~ Baseboard RoIfrlllBCato, 0 o None Galage 0
Wall. D~all Fuel Electric RllIlIleJoven 4 OSlails Carport 0
T,imlfilllsh Wood Cor.dition Avera<U! ??oo.0 0 DDlops,ait "'U3cl1ed 0
Bathtlool Vin"l Diill"'e""el 0 (1g Scunle Detached 0
6lh ",.,nSCot Ceramic Tile ""- F.n/llo<><l 4 OFloo' Adaquale 0
Doors Hollow Core Cenl<al None Compact"" 0 o Heatll<l Inadeqoate 0
Other None Walle,ldry 0 DFinishlld OHSUMt iii
CI)IldltKlIl MiclOwave 0 DUnflnislllOd ~oo 0
F"e lacolslNone . Intercom 0
Ii Conditions or lhe improvements, ,epal's nee<led. qUio/i'y of COIlsuucUon, odu;nonal r..aruru, mOihrniziKioIl. "'c.: Sub-lect Dronert is in ve~ood
condition.
1m
I!I~'
Ie
ii
1- Depreciauon ipnysical. runelional, aod Ute,nalinadequaci8i, etc.); There is no evidevce of functional or externial obsolescence.
Ad"o,se envi'onmemal condilions lsudl U. but /lOt limit<I/J to. huudO(J, WaReI. 10";'; wbslll/1c;SS, elc.-I plllJlflJlt jn the improvements, on the sile, Or in lhe i",madiata Vicinity of tha stlbjeel
prapelly: There are no visible or ..nnarent adverse environmential conditions that would
111::f ne""ativelv ~mnact the value of the sub'ect.
II VALUATION ANALYSIS
ESTIMATED SITE VALUE -, 42 000 Comments on CQSt Apprllllell (such as, sou,ce of casl eslirnSle, site value ,squ1l(e1001
EST'tMA TEO REPRODUCTION COST-NEW OF iMPROVEMENTS calculallQ<l snd, for HUO alld VA, Ihe estimSI8410malni"ll economic fffe of lllil prapertvl:
3,480 $q.FI @ $ 55.00 -, 191.400 In renroduction cast of ~~rovement Marshal &
SqFl.@ . -, Swift Handbook and local contractors are
Sq.fl.@ , -, referenced.
Sq.Ft. @ , -,
5q.Ft @ , -,
.,
-,
-,
-,
Basement -, 5.500
Spacl.1 E""'9~ EfticiMtllems -,
Porcnes, P.tios. e'c. -,
; TotSIEstimatll<lCoslNew -, 196.900
I'tlY'>cal FoncClonet /:1\:tamu
~!ll Lass 10 I I
Oepreciatlon 17456 -, 17.456
Iii DepleciatadValueallmp,avernents -, 179 444
"AS is'' Value 01 S,telrnp,ovements -, 3 500
it' INDICATED VALUE 6Y COST APPROACH .... ~, 224 944
. .
fr"'-ldoe Mac Form 72 \10{941 MCS, a Divisian 01 ACI D""elll!lffi'lnt [8001 697.n83 Page 2 lIf 4 Fannie M... Form 1025no/94l
MARK E. HilBERT & ASSOCIATES
SMALL RESIDENTIAL OME PROPERTY APPRAISAL REPORT
t'i:
i:,.,:,.:.,': At lea51 'h,.... r."lal compOfablu shWld De ,,,ported and analyzed jn lh,. sect;""_ The f"ntal comparable" sIloukl rapr"""" the mOSt CUffen! rental info,rnati.on ()jl properties os .imilar 'nd
p'oxlma,. to ,he ""blact p'oP'lr'V as ""s$<l>IIr. /This C""'PN= oS based (](I curren. ,entol data. ,her. forB, llla renlal comparable. typIcally er. nOlln" same comp.rabl.. ,,"ed In lllol sal..
illl'!;,: Comparison analysis,) The "l'lPf.i..1 '.pon shOUld .....,,, Ilia 'BOld... that Ihe unitl ~ proPlll'lies .elBeled as comparablu are cOmp.r.ble II> the subject property (bOth the unils ami tile
ove,aUprOj:>enylandaccuratelvrepresenllherentalma'k"llo'theSIJb",clpropenylunl"ssoth,,'w,sestate"w,\h,nth,'lIporl).
E::':u lTEM T SUBJECT COMPARABLE RENTAL NO.1 COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
rOI ^_." '-A-B-1D RO~~ledge Dril25 West Main Stroet 29 West Locust Street 6603 Carlisle Pike
Mecbanicaburn PA Mecha.nicsburf"T-PA Mechanicsburn - PA
::;::" _ _ 1.5 Miles+/- 1.5 Miles+/- 1.2 Miles+/-
P,o",rn"V(".ubj<lCI
Lea.e da'.. Ilf .vallable NANIA N'A NIP'
flernSUfved;>re 9/10/03 al13J03 10 03
Ii? Inspection Inspection C.P.M.L. C.P.M.!..
Dill.s"",ce
fI<lmooncess;ons None noted None Noted None NOted None Noted
None noted I......one noted None noted
" Units 4 IV"" 0 'Um/32 , Vac.O Yr.Blt:1842 IUnrts 2 I v.~_l '('_Blt:19"0 " U,.,it. 2 I Vac. 1 Y"B :1880
Desc'ip\lonol V"SII_: 1985
p'Op.fly-un',S. ~=-lex Ranch 2 St"'Du"'Iex 2 St., 'Detached 2 St~~/Du"'leJt
\ MSi!<",aPf'i''aJ,
aila,vac.nc;.. Aver~al Good a........eal Avera....e A......eal Avera....... A.....eal
.Mconditions Aver~Conditio Good Condition Avera....e Condition Fair Condit~-on
t
Rm.Count Size Rm.Coonl Size Total Rm,Count Siz& Total Rm.Count Si.. Tot.1
iiili! Tot B' Batt! Sq,fl ,,' " Balll Sq.fl. MOf\INyRanl Tot B' Balll Sq,ft. Monthlyllant TOI S, BalM Sq.FI MonlhlyA.nl
in~ividual 4 840 4 1154 600 4 10441 o 7 2 180 0
u"il
b'ukdown 4 900 4 1118 600 4 1044 450 5 1 560 550
4 '00
4 840
Water Water Heat He"'t
Sewer Sewer Sewer Wate.... Sewer
UiUfl'es, T~h -C- Trash Trash Trash
fU""lu'eand Ra~ Oven Ran'-';!Oven Ran....e 'Oven Ranoe/OVen
.m~nitie.
\/ "'~Iu<led in renl Heat t;; Tenant Heat ~ Tenant Refri':;rator Water bv Tenant
Elec.Bv Tenant Elec. hv Tenant Elec.bv Tenant Elec. b'" Tenant
if Part'Unfin. Part/Unfinish"d Full/Unfinished Part'Unfinished
lill'"""""""""'" Avera~B Utilit'. Avera""'e /Utili tu Averane Utilitu AVEllra'-'e Utilit""
basem~nl, No Air'Cond. No Air'Cond. W~ndow AC's No Air Condo
l>"O(,ng/ooolong, B.B.Elec~Aver~ Elec 'Gas 'A'..... Gas H.Air'i...-:;' Hot Air IAw:r
plo/"o,amenme"-- elo.
None None None None
Oft St. Park. Off Streetl2 Car Gar Off Street/2 Car Gar Off Street/) Car Gar
AnMysi. of 'ental data amt :itJdl!<l{f lor astim,t<K! matbt rents tor the jrldi",;duol Subject uMs lincluding lha adjustme'fls used, Ihe ad.~.cy 01 ~"mp..ablll5. '.ntal con~.ssions, elc.1
Rentals in this area are ....ood.
[iii
IIii
:!i
r-suGJect's f81lt sched~ Th. '.n, "hedula ,,,,,oncil.Stl\e applic.atll. Indi~.tlld monthly marl<ll1 'antS to lha epp,op(i.te subj.CI Unil, al"ld p,ovid.. t"" ,,",imated ,.ntS to' th. subj.ct
1~lii P,op.rly_ Th. app'ais", musE 'evi.wt"",.nl cha,ec",,;,'ics olt""ocmp.'ebie .alaStI><1Ole,mif\ewnelflar.SlImatec',.ms&hooldntfhoC(;K;lUlIIormar""((6{1(S. f<KBJ(&mp/6,iI .JC~fIfflU
we'e ava,la~e ~n th. sai.. comparables and u..d '0 deri"" (he g'~ '''''' muitiplier IOOMI, actual ran", 10' (/>II subjltCt s/lflUid be u..d. It mark.t 'ent< w.,. uHd 10 constructltla compllfablu'
,enls and d."ve the GRM, ma,k., '''''''' should be used The lotal g'o.s estimated ,anI muSt "'!>f...nt-'...., oha,eOlllfi.(ios oon.isten( with th. slll&s o'Jl1lparabl. data uHd 10 dariv. tll<o GRM.
TIlBtolatg,ossestimat<e(l,entisnot adjustedfo, vetancv.
....' LEASES . ACTUAL RENTS ESTIMATED RENTS
'iF Un" LeaseOate NO.Uni'- PMUM TO{aI P.,Unit To!~
Be~i" '"' vacam Unlumiahad Fumiohatl .... Unfu'ni....ed fumis~ed RenlS
1 H'A N/A o . 360 & . 360 & 550 $ . 550
1 MIA N'A 0 360 360 575 575
1 NJA N/A 0 360 3<0 575 575
11>>1> 1>>1> " ,,, 335 . 550
. 1 415 . 2 250
Oll>l;, rnonlhly income (,Iemi..l None noted .
Itll vac,""CV' AO(ualla.tyear N/A'lio P,aviou.y.... ~'lio Estimated: O.:a 'llo i 540 Annually TOI...g......lIS\im.hod.ent , 2 250
!)"h'~sj"""'''''djn''''ljrn.'8d'e''t.: OElect'ic Gf]Wat8' IiJs....,~.. o Oil [i]TreshCOII.~tion 0
COmmanlS on 'enl schedule, aClual ,ents, <lOtimale<! ,em. leSp&cially 'egarding differences betwlltln actUal and estimaled ,emsl, utilities, "e.; Rents fer sub-l act are
low for this area.
H?
F'''tld,eMacF'o,rn72110194) MCS, a OMsioo at ACI QavllI<>l>fllont (BOOI 691.7783 l'og.30f4 Fa"oi.MIHIFoom I025/lG1941
-.-- --
MARK E. HilBERT & ASSOCIATES
SMAll RESIDENTlA :OME PROPERTY APPRAISAL REPORT
Ii The ur>dersign!Od has recited l11te8 recant .~fes of prop-...-tids ma.( OWl."", '~. plo.><;m",,, .10 the SU, bjecl properlY, and has da~c.ribed at>d. analy2ed 1M U in lhi." analVSi." " lne.a i." S.ignilicam
"",i.,;on be,......" Ihe ""b~Cl and c<>tnpor"bJe properties. Ihe .".Iy... i""ludes a doll.. adlusunenl ,.tlectlng lhe ma,ke' ,.ec,'on 10 Ih"". rtemS Of an upfane.n"" "'4l~"'" h,..ne ""'rlc.. dal..
I,': If a Sign'fican' item in 1M comp.rable properly i. ""pet;O'10. O' more fav<>Iable Ihan, ,he SubjilcI property. a m.nus H &cIlu.'mB'" IS ,,!ade, thus reducing the adluSte<:l .ales pnca of ,he
comp.rable p,operty; if" .iQnihcant item in I~ comparable prop.',v" ,nt.."", 10. '" ..SO !""<>Iabla than, the 'Ub~CI prop.ny. a plus! +! 8dlus<meml. mooR, thus ,,,c'USlng 1!'>8 adlusted .ales
Pnclloll~comp"'ablapra~"y, 1I11SalasPrk:e . Gtos&MCIfIlhIvRantIl
\'!' ITEM I SUBJECT T COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO. 3
K0f 9-A-B-C-D Rockledge Drive 415 W. Keller Street 29 East Main Street 1000 Bridge Street
[':__.; A<I<l<eso Mechan~csburl'T PA Shi~nstown PA New ~erland PA
kitH, P,o,im;t 'o.ubaet m:m ~ 1.5 Milesi-/- 2.5 MJ.1es+/- 6 MJ.1es+/-
~-;:>: SalOS rica , -----elUnl. nFu,n- $144330 !:;1unf. nFurn s 149 900 IX Un' lFum. $130 500
Sa.. ,ice erG8A $ $47.57 $52.67 $58.78
r'::::, G'''~5I1WfllhJ ""'I $ 1 415 $ 1 052 $ 1 060 $ 802
~"mornlmwlt.--;- 137.20 141.42 162.72
Sa"'. 'Ca ,un.. $ $ 72 165 $ 74 950 $ 43 500
~ale.~"ca..~"oom' $ 14 433 $14 990 $ 14 500
~a_ . /, _
Verilical;o.,SO<JfC". Ins....ectioZ'l C.P.M.L./Court: House C.P.M.L. Court: House C.P.N.L./Court House
U:::i': ADJUSTMENTS _ DESCRIPTION +. $a'-"'I DESCRIPTION +'-I$Ad-- nESCRIPTION +_I$a.-...
.)F:.- s..JuodJnanc,ng DOM 148 OOM 98 OOM 150
'c'::::: conce..,on$ Conventional Co"':uentiona1 Conventional
aa,eo/sjlalt;me 07-18-03 04-30-03 1-13-03
:?:::]:: Location Avera....~ Averar'1e AveralTe Averane
),:,.' Le..eI\OldIFeeSim~ Fee sJ=ie Fee S~""""le Fee S~Tl\nle Fee Sim"'le
-i-,i Site La9 AcrelA.';= 0.28Acre/A~....:. +8 100 0.3 Acre'Avn- +8 000 0.33 Acres'A~""" +7 800
>:.f- Vi~w Residential P::-sidential Residential Residential
DaSi nanda.1 Ranch A~"'" 2-St~ 2S: ~;1k":::- 2-StoT'V/AVlT
Qual;t 01 constructian Brick Frame Brick Vinvl
II e IS 1920+ ,. 1881+ /- 1920+ ,-
Condition Above Avera~ Above Avera":;l!..'h'::-~e Avera"'~:; Above Aver<i....;
G,o..IMk:i, I\,,,a 3 480 .It. 3 034 .t!. +4 500 2 846 S .t!. +6 300 2 220 S .t!. +12 600
!Va Rm. C<:>unl No. No Am. Counl No. No Am. COOnt No. No Am. CO~nl No.
WM Tot B' Bath Van. Wlit Tot B' Bath Vac unilS Tot 6r Bath Vac. units Tat B' 6ath Vac.
Unil 111510 1510 1410
blea.down 1 1 1 3 1 0 1 5 1 0 1 4 h 1 1
1 1 0 +30 000 +30 000 1 1 1 0 +20 000
1 1 +30 000 +30 O~ +30 000
6asementde.crintion Part. Unfin. Full Unfiniahe Full Unfin Full Unfinishe -1 000
F>I"",;OIll.1 >l1j);1 Averal'Te Averaae Ave.r~ AveraO'e
H .un ICOC>lin E.B.B. INane Hot Water/None Radiator/None Hot Water/None
Par...n on/oU .,t. Off Street Off Street Ofi' Str-et 1 Car Ga.rat'Te -2 000
ftj:l!.;:.~;;rPfo,.clam.m"u&tu None Noted None Noted None Noted None Noted
Ili,!:'I:~'" "."""" None Noted None Noted None Noted Non- Noted
N,Ad Itotall . +, '72600Jiiii+ .-1'$ 74300Jiiil- , 67400
!l.'!it; A~lu.te<l.ale.pr,ceof
I'::::::: compar.OIe $ 216 930 $ 224 200 $ 197 900
n\::,\ Comments on .alas comp""son (inclt.><l;ng recancllierion 01 a~ ;ncj,ca,ors 01 value.. to COfl5i.t.ncV anll relative strength ao:l eveh"et;on of the 'vpical inveSlor'sipurchesar'. motivation in thin markf!1l
C~arab1e~ chosen were the hest closed sal-s available within a reasonable distance of the
aub~~ct. There were no 4 unit c~arables available at this time so each c~arable was
ad=lusted for this consideration. C-="'" 3 haa one unit vacant and unit 3 is an efficienrov.
ITEM SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
a~te. P,ica and Data None None None None
Sou,e, 10' proo' .ales ~~~ N/A /, N/A N/A
wUh.n earol. r...al N A C.P.M.L. C-'rt B-use C.P.M.L./Court House C.P.M.L./Court House
Analv...olanvcunenl.gr""menl.ols~e,OI)Uon,o.-liS'iflQollha'Ubjacll>'lI\>IIr1y and analy.l.ol any prlor.a1a. ol'ubject ar>Clcomp.,eb...wilhinona yellrO Idataol.pproisal:
The sales c~arison a-~roach carries t:he most wei....ht in deter.min- market value as it is
based on historicaL infermation and is not as sub~ective as in the income a~roach.
I Totalg,o..rnonthlyastlmated,ent $ 2.250 X g,assrwtmult'PI'efIGAMI 139 -$ 312.750 INDICATEDVAlUESYINCQMEAPPAQACH
Commant. On ",come approach iooClud'flQ .xpense retlOS ,I .va,la~a, and ,econc,lIatlOn OJ the GAMI Sales a<r'l....roa....h reinforced h the income
Ilah....roach is a ....ood indicator of Fair Market Value.
INDICA TED VAWE BY SALES COMPARISON APPROACH _ .... _ ..... _........... _ _....... _ . _ _ . . . . . ... 217 000
INDICATED VALUE BY INCOME APPROACH ... _ ........... _.................. _........ ............ t 312 750
INDJCATED VALUE BY COST APPROACH.. .... ......... _ _ ... _ .... _ ..... _....... _ . _....... $ 224 944
Th.. app,a..aIIS made ~ as.. 0 .~blact to th. ,epaor. oIlarallona. 'nspacllonl, Of condlt'ons 1'$Ied below 0 SUbject to compl.tio-n pII1 pia". and ~fic.liOIl$.
li!:::!- ,-ommenr. and cond'l<on. 01 appro".i The sales cODIDarison a'Dt:lroach carries the ItlOst weiqht in deternunq market
rj[ value as it is based on historical information and is not as sub~ective as in the J.ncone
1I~,:,,:,,:jah""roach nor as de-endent on e.conomic condi+-ions as the cost ;;.....:: roach.
II-:,-~J Final reconciliat;on; I ~ve the sales c"=""arison -:;:::roach ~e most webht: in !-his evaluation.
Thapu'po.e 01 this app,.;..I;. toes,imate thamarketvaluaol the ,.al p<Opatly lI1ati.stha,ubjectolthi'report,blUled on tha above conditions and Ih. certi licali<ln,co-ntingent andiimiting
Gond'llons, 'nd markat value deionltion that are .tatad in tM anachad Freddie Mac Form 43!llFannill Mae FOtm 10049 (Aevised 6 - 94 I.
I lWEI ESTIMATE 111E MAflKEl'VAWE, AS DEl'INED. OFTHEAEALPfIOf'BfTYTHATISTl-IE SUbJB:TOF TIffS RfPOfIT, ASQF AUt711St 3~ 2003
In, lWI-IlCH IS THE DATE OF 1NSPt:CTIQN AHD THE ll'FECTIVE OATEQF1111SRI:PORll TO BE . 217 . 000
AI'FRAlSfR ~ / .. L/ SUPERVISORY AI'Pf\AlS6'lIONLY IF AEQUIREDI;
>OM.'. ~(H,~ ,.,... 0,. 0""""
N.m. Mark"'Y. Ib~ Name In.peCI Properly
Oa'e Re~ort "i-nad June 2 2000 aate Aa t SI ned
::)i- Stale C."i!lc'l;on t RL- 00 03 88 -L Slate PA State C.rtiflce(ion I SI~
O,S,ateljoens.t RB-029755-A Sla,ePA QrSlatelic.nset Sla"
f,edo," Mac Form 72 110-941 MCS, a Di~i.ion of ACl a.valOl)lflent 16001 6~n.7183 Page 4 cf 4 F'~n'a Mae Form 1026 110-94/
FHe"'. 03-681M1
APPRAISAL REPORT
of
415-417 Rockledge Drive
Mechanicsburg, PA 17055
.
PREPARED FOR:
Charles Shields III Esq.
6 Clouser Road
Mechanicsburg, PA 17055
AS OF:
August 31, 2003
PREPARED BY:
MARK E. HILBERT & ASSOCIATES
14 North Walnut Street
Mechanicsburg, PA 17055
MCS, a DIVI.,,,,, of ACI Dftlfelopmenl f8001 1197-7783
MARK E. HILBERT & ASSOCIATES File No. Q3-681Ml
SMALL RESIDENTIA COME PROPERTY APPRAISAL REPORT
1m'"'' .".... 4l5-4l7 Rock1.d e Driv. '" ""chanicBbur~. PA ".. PA Zi C de 17055
l at Oeser lIan Not Available Coon Cumberland
Ass...",'spercelNo, r..Ve.r R.E.T.....' S ci.IA.sessm.tnlS t
NeiohborhoadOlProeC1N.me Silver Snrin~ Townshin Me RaM'.nee Cansu.Trect 118
Borrower pioher Geraldine (ESTATEI CU''''''lOwner Same Ocr:u .nl J Owne' IX T""."1 , V.c.nt
, !\,""". .- l]t h..Simole I Il...,nold Pro'.eIT npUD , Condomin<urn HOAt "'"
Sol.' Price' Estate Oe'eolSale N/A DasCJi iOnlodt.rnountllfloancher."concessi""sr"be .;db seller N/A
Iii le"d.,lChenr Charles Shields III Eaa. Add'8$lI 6 Cloused Road Mechanic:sburn. PA 17055
, ...... Mark E. Hilbert A~res. 14 N. Walnut Street Mec:hanicsburN PA 17055
IIlll1:'~'''OO W"..~ ~SUbU(bil(l bJAul," -.... SingIBf_yhatding ............ 2-4h,milyhcl<osi"ll
5iogIIoFamilv PRICE '"' 'l..>lFamiI1 PRICE ""
BlI,llllP [2g Ov...-75'll1 025.75~ OUnd8r2~" -...., '10001 lyr'l "'"-' ,{OOOI Iyrsl
G,o.....th'a". o Rapid /1fJStabt. OSlO..... [XIa.....n'" 80 Lo..... 10 Oa....nDr 80 L"..... 55
Propertyva.luDS [2glnc'USillg OStab'-- Oa~1I!I DTe<lomI. 22nHlllh~ [;gren.nt ,., "." ~
DDrnalldl.upply o Sh"':"lle ~lnbal'nCll R~IlD'WPply ~Yac""tID.5%1 /WX?l P,odominant I@ttt ~Y"".n'!0.5%1 L?!:'?:tl Prodornio"",
Ma'~e" lIrne n Unde,],""" 3.6m"". a_limos. VlCan' !OllD' ll'lbl 130 20 Yac.nt(Qv,",S'Ilo1 130 65
TVJ'ic.aI2-4 Iamilybldlf. Typa Detached No stQ(ie. 2 NO. unit, 2 AIJD 60 y" Pr~Iand..." lildusechDnge
Typicalr""t.t~ 10,675 Ii]10Cl::;- 0 Stab:--O DDC1:;- OfIDfElmily 55 DNOllikaly Ii! Liksly
ES\,n&ig~~."ac~ .02 "Dlncreasil1\l [igSt.blD ODDCllfliog 2-4fornily 12 o fn p'ocess to:
Reotcont'~. DYe. [ijNo DUkel,-lfye.o,tlkotv.rMscribD Multi-fsmily 0) Residential
COO1lTlMtilI OS
I~ ... "
No..:~attdtheracialcompooitjoJnofn~"'''nol~_'_'''''.
N.igllJo,"00dboond81iDsandcha'KtD'is(io::.: Subiect ....ro....ertv is 10catF!d alona Rockledae Drive in Silver Snrinn-
Townshio. cumberland County. Penns~'lvania.
Facl"" that alfec:llhD mao-ketablrliy 01 the pmperl;es in lh. Migllboo"haod (lHQl(imit~ to 'il1\~o~ment al'd ame.nilifl. &mpk>vmam .t<lbilily. appeal,,, rnarllel. sto.l:
Subiect has easv access to ma;or Hi~hwa~'s Schools Churches-~lnvment shon....in~ adn recreational
areas
The loIlo.....lng av.~abl. liSlings ,..p'....", <h. mo.l currant. .imiler...nd pr""lmat. oompetitlllD prope'ti. tt> Ih. subj&ct pr"p."ly in Ih. '"bj.cl ne;ghbO(hood. This analy.iS Is Im.nded '0
"""",a,,,'h.,,,ven'Ory """antly"ntll.m.,ket con>"".ing.....i'h II>&.ub)8'C1 property in Ih'.ubject nDighborfl"od andreeDnl pfi<:.and m..~.ting lim.n.nd.aneo,inglh..ubj.Clp,operty.
lli.\;ngSOllUid.lhe.ubj.clneighbO(hooda<en",cP/lsid",ed8llpllcabiaL TI>&~OIingoornp..abl&sc.nbDr_.'O'.al.comParablaslllheyarDCUrr""l!ylo,.aIe.
rmA I SUBJECT I COMPARABLE LISTING NO. 1 COMPARABLE USTINO NO. 2 COMPARABLE LISTING NO.3
]j 415-417 ROCk1~060) Car1i.1. pike 440 Market Street 1B South 1Bth Street
Addles. ~ Mechanicsburn - FA New CUn1herland PA c......... Hill PA
P'O"im,! .osubect 1.2 Miles+/- 5.5 Miles+/~ 4 Miles + -
Lis,i nc. $ N/A Ix Unl. I Furn. ,95 000 Un/. Fum. . I1B 000 Ii1-u"l_ -j Furn. $ 139 700
"#m.t.G~'" 2 464 3 '140 2 610 1 655
OataSOOrCD Insnection C.P.M.L. C.P.M.L. C.P.M.L.
'Unlt.fTourn..I8RI8A 2 IS 14 2 2 112 0 I) 3 12 Is 13 ) 12 14 I)
II:!!!'; AOOrO"imSlD v... boill 1980 1B80+/- 1920+/~ 1930+/~
A, f",.d. s"nmarke. .fA 110 130 15)
C"rnparrsono/ll./lngs,o.ubjec,plOperty: Listina 1 is in need of Lmnrovements has shared furnace 3 car rrarans.
Listinn 2 is a 3 storv buildina in a nood location. Listina 3 has noor curb a~""eal in nood_
location.
Markst conditions that at/eet 2-4 family propsrti.. j" 1h. subject neighborhoo,i (including the abollD neighborhoOd Indlcalo.. ,,1 gro.....th ,.te. pmpeny "aluDs, d.malldlsupply, Ind mS'k.tinJ lima)
and ,he p'.velsn<:e and impaot in fll. ....bioc. m...-kel .r..,ega'dlllQ loan discounts. Inler." bu~do""ns and OO<\CII.$ioos, al'd ldonl\fit:allon III "..I"III.)n listing p';e&l. .v..'age dlys on fhe market
i ana any change over pU'year. 8lc.; There is a ateadv ....001 of buvers for ....rnnerv' ....riced ....ro....erties.
The mulit-unit market haa been steadv and stable with no forseeble chanaes.
11!!!I,t
,i
<<
Dim~n.ions Not Available Topll{lr.phy Level
Site<lf&a C"rnerlot iii No DYes Slu 0.45 Acre'" (ESTIMATED
Specific 'oni"ll cla.sificSl"'In and d..criptiof\ Residential Sheptl Rectann"lar
Z"ning compliance. [ille<}&l 0 1---O&lJNoncoo1"'mi.... lGrlln<ltalhfl'ed u~.l Olltagal o NO zoning Drainage A.......ears S"'tisfacto.....'
! Kigha"& be.t us. as improved: [ilPr.....ntu.. DOlhefu...le,pJain, Yie..... Residential
Landsc8ping Ade':';'--:;ate
,- Public DIlle, O".siI..~ ,,~ PubliC P'iva" O,II,,,...,,y Ma.ca~am
.Iec,ricr,y Ii<) 200 Amn 51'....' Macadam Ii<l 0 Apper.nle"".rnent. Uilities & Draina-~
Gn 0 Cu,b/gun", None 0 0
W'tel Ii<) Sid......alk None 0 0 FEMASpecl.,FloodHazardAraa OYa. IXlNO
;::::!; S81l;tSfyse.....er ~ Slrt"nllghl:l None R R FENI....ZofID C M.pOalD 3-3~92
St"rm'e""~, X ". None FEMAMa No_ 420370
Comments laPfl>l1e"t sdverss easemsnt. eoc"'.chmrlll!s speCIal assessments. .I,de areBS ,Uegal III legal noncOllform'ng tOning uall etc I None a~~arent.
Sub;ect however to reservat10ns easments. conditions and riaht of waY of record.
f,edJre Mac fo'm 72110/941 MCS.. Divisi"",,1 ACI OoNel~ \600\ 69J.1763 l'agelol4 F.nn;e Mae F"rm 1025 {l01941
MARK F HILBERT & ASSOCIATES
SMAll RESIDENTIAL ,,~COME PROPERTY APPRAISAL REPORT
~"'lktI<:f;ption &I:_"",'-:'lpti<>n IM",...if4IO<>ndi'lil>Ml Found....!... Ir\:ilJlationlR-"_ifknown!
Unl'sibldgs. 2 I 1 Found.,lon Block Slab No o Roo'
510';.' One bte,lo, wall. Brick Cuwlspece No ~C&\\ing
.:.1.i~;, TYP"llIetl'ltl Attac:hed Roor.url<lCe composition Sump Pump Sumo Pumo ~W'II'
0."11" 1"VI8) Ranch Gul1arsldwll5p" Aluminum a.mpnUs None Annarent ~F\OO'
I r!!ll''"'~~~o- 'ronosed Wiooowtype Double Runer Sattlernenl None Noted ONeil.
U"",",con.lrucllcn No Storm sunlSeree"" Existincr Infestetion None Noted Adequacy
'(.....Sullt 1980 M.""lacluredhousiO\J . DVes 1iiJ", ths~ ~%OI1srIIoO(.ru ErlIl'9yeWdenlilem.:
flil Eftecuve.."elyrsl 6-8 "ICcmpliesw;lhlheHIJOMaoofIClurlldHou.in!l a..ement fini.h Unfinished None Noted
Cons,rUCli"" end Sa'elY Standards. I
UnilS Lavellsl Foe' Uvi Dlnl Kllchefl Om Fltmll rm. Bedrm~ ,aotllS l.undr Olll.r , It.!unlt Torol Jl
1 1 1 Area 1 2 1 1 1 232 1 232
1 1 1 Area 1 2 1 1 1 232 1 232
I'" ro~emertt~ contain , Rooms' 4 Bedroom(~l' 2 B.tl1(.I: 2 464 Snuaref""',ofGROSSBUllDINGARE:A
GROSS BUILDING AAEA IG8A1IS DEFINED AS THE TOTAL FINISHED AREA (INCLUDING COMMON AREAS) OF THE IMPROVEMENTS
BASED UPON EX,ERIOR MEASUREMENTS.
""'- IMaterials/condition) ...... l(i1f:her1l1<J'ip.('Iooit-cond.1 A'" CarS{OJage NO,C",S~
FI(JO<5 Hardwood "" Hot Water Ret,iga..tor 0 o None Garlga 0
wall. Drvwall '0" Electric Rafll1&lo~an 2 OSlolra Carport 0
Ttlm/llnish Wood Condition Averaae Oi.poslll 0 D01<:lIl~\llI1 Anached 0
Bath floor Vinyl DI$I\wa.har 0 ~Scul1la Dallche<! 0
8th wain"""t Ceramic Tile '..... F.nJhood 2 o Floor Ad-&Il,U8'8 0
Doors Hollow Core CanUel None Compsctor 0 o Heated Inadequat. 0
Ilii Other None Wawrjdrv 0 o Finlsh8<l Otlstr...t Ii<]
Ili'SI C<mdI\i1ll1 Mlcro.....v. 0 DUn/in'shed Non. 0
Fire lac.lsl None . 0 Intercom 0
Conditlon.oltheimpro~em.n",'.p.l..n..dfld,qualltyo'cO"'ltuctlon,oddition.1 faaru",., mod.,.nl'.tion..tc.: Suh;ect nro-oartv is in 'VeT'V aood
condition.
[Wi
If~;!.r;F
D.~r.cialion lphvsicol. functionsl, and Ulernal Inodaql.loclas, atc.l: There is no evidevce of functional or externial obsolescence.
11,$ .
Act""r5e en~lr""mGflto) condilions isuch a., bUt not Ilmiled to, h.lI'd",,~ WaStes, toxic sul>st.ncas, ate,! prawn! in [ha imll<n~<lt!\ents, <:l<'\ 1M sile, '" In lhe immediale vidnilv of lh. subjeCt
property, There are no vVdble or ..nnar~nt adverse environmential conditions that would
neaativelv imnact the value of the sub;ect.
VALUATION ANALYSIS
ESTIMATED$ITEVAll!E .. 22 000 ComrnantsonCostApproochlsuchu,sourceofeost8stlmal8,slt8vokJe,squ'f8fopt
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS; calt:ul.tit>n o"et lor HUD .nd VA, tl18 a31lmate<f remaining economic life of the p"'partyl'
2,464 Sq.Ft.@ $ 55.00 -. 135,520 In reoroduction cost of Lmnrovement Marshal &
Sq:FL @ . -I Swift Handbook and local contracto-rs are
Sq,FI.@ 1 -. referenced.
Sq.F,. @ . -.
Sq,ft @ . -.
Ir~ -,
-.
-.
Basement -. 5,500
-.
Special EnergV Effldantllem. -.
Porcnu, Palios, e(c. -.
I TOlal EstimatedCosl New -. 141. 020
I'tlv.ica( Functional External
less 10 I I
Depr[!<:ltItron 12. 414 -. 12.41.4
Oe\>le<:i..iH!\la\utorrllmprovem8nts ... ~ t 128 606
\j:::::::: 'AS,." Value of Site Impro~emants -. 2 500
INDICATED VALUe BY COST APPROACH -, 153 lC6
flo<!<l,e Mac fo,m 72(\01941 MCS,aOivisiO/loIACIOev.fopmantI8001697.77S3 Paga2o/4 F.nnia M"" Form 1025(101941
MARK E HILBERT & ASSOCIATES
SMAll RESIDENTIAL I. JME PROPERTY APPRAISAL REPORT
IfJil" ",,' ,." "",,' oom.,,"", '",0"" ".,,,~,~ '""""'"'.' "O""".'","""O~""~"""'''""",",'''mo'',"'''"',~''''",''m''''""" .m",,'" ",""'''''~'
pm_Im.,elC ,hit subject prop<lny.. pos..ble. (Th'.comO'f1oon " basltdot> curren,.."'.' dell"hers,,,,.. ,h.,an'a1 CClT'p'f.blestypl"",IIV ".noIIM'~C""'\'&I.bl..".8d\l\\""U""
<croparr."" analVs,s,) Tne "Pprllnl report should assuJ.the '.ooar tha, IN unn,and po'cperdl!sselectooa.comporable..recOmll"rabJelcthesubleCI p'OperlY Iboth,h. Unit. and the
~"nI;;i;:: ev"rallp,operty/anda<:curately,apresent lh. 'emalma,ket 10< ti'>&su(l!'lClprol""'lV lunlessotllefwiUs,aledwilhin Ih.,oporll.
ITEM \ SUBJECT I COMPAAABtE RENTAL NO.1 COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
415-41J Rockledg. CfV. f25 West Main Stre.t 29 West Locust Street 6603 Carlisle Pike
Address Mechanicsbura. PA Mechanicsbura.PA Mec:hanicsbura.PA
1. 5 Miles+/- 1.5 Miles+/- 1. 2 Miles+/-
I;:J}] Pro><imilylosubleCt
I ~!j'i:i:i:;bleasa dalel il avoiiab~1 NIA N / A N/A N/A
RanT'llr"e data 9 /10 /03 8/13 03 10/03
j f;;~::i;.;ij DOlo SOUrca ;tnspection Inspection C.P.M.L. C.P.M.L.
:n::'i Rel\tc~nsmr.s None noted None Noted None Noted None Noted
None noted None noted None not:ed
em IUnils 2 tVac. 0 t Unil' 2 t Vac_O y,all:1842 IUnilS 2 t Vac.1 Y"BI,,1920 'UlliS 2 , \10<:.1 Yd311,1880
.,.j-.:.: Oflc'~inn~ y"all.: 1980
i.'~j;;,: p'operty-unit5. Dunlex 2 St:v/Dunlex 2 Sty/Detached 2 stv/Duolex
das!\In.aopeal,
u_,','::,: oga.vacancias, Averace/Anneal Good aDDeal Avera e .01 Averaae Anneal
/,_&__ andCOr4i1l0ns Averacre/Conditio Good Condition Averacre Condition Fair Condition
Illli~ Am.Counl ." Am.Counl Sin TOTal f1m.Counl Siza TOlal Rm.Counl Sl'e Total
TOI Br aalh Sq,FI To! Br alTh Sq.FT. Month!yRenl Tat Br Balh Sq.FI. ManlhlyR~1 TOI Sr aarh Sq,FI ManlhlyRant
individual 4 1 232 4 1154 600 4 1 044 o 7 2180 0
unll
breakdo....n 4 0 1 232 4 lU8 600 4 1 044 450 5 1 560 550
Water Water Heat Heatr
Sewer Sewer Sewer/Water Sewer
Ulilili.., Trash Trash Trash Trash
f...rnitllr..nd Rance /OVen Rancra/OVen Ranoa/Oven Ranae/OVen
"",ernl;e"
IgS,( ,neludadin ran1 Heat bv Tenant Heat bv T,anant Refricrerator Water bv Tenant
Iii: Elee.B..... Tenant Blec. bv Tenant Elec.b.r Tenant Elee. b..... Ten21nt
Part/Un/in Part/Unfinished Full/Unfinished Part/Unfinished
F...ncllonalutiiiW. Averane Utilit..... Averacre/Utilitv Averane Utili t..... Averane Utility
bosemenl. No Air/Cond. No Air/Cond. Window AC's No Air Condo
haating/cooling, B.B.Elec/Averacre Slee/Gas/Ava. Gas H.Air/Ava. Hot Air/Avcr
proje<:Tamem!ios.e1C.
None Non. None None
Off St. Park Off Street/2 Car Gar Off Street/2 Car Gar Off Street/3 Car Gar
Analysis 01 16ntal dOl. and support lor nlim.te~ ma,kel 'ant. for the individual subjacl ullits linclu~ing Tha adjuslmam. llsed. ,ha adaQuacy of comparable.. <enlal c<lrn:essionS. eKI
Rentals in Mechaniesburcr are crood.
If')
1ft!
Illitl!
;:)uoJect S rent sCJ)Coule The ""'f sche~ule '"""nciles the apjlliCable indIcaTed monThly ma,kel renfS To Iha approprial. Subject unit and provides Ihe estimaTed 'enlS tor the .wb(l!Ct
properly_ The aOplaiser mu., ravia.... <he ,aM cl\erec\a,\<;'i<;s <>!11Ie comparable .ales \0 dat....mi"" when... e.Uma\l.d fam. .hClUld ,.flect ac,u.' at m.'~al ranlS, For ..ample. il aCtual rems
I::i:i~;{i::i; were availabla OIl. lhe sales comp..-ables .nd used 10 d.rive tIla g'o.. renl ""'1~;J1Iiar IGAMJ. aclllal ranI. I.". lhOt subjat:. .h",,1ll ba USlOd. II markat ramS ....ara u.ad to consl"-'Ct tha _comparablas'
renls ond derrva tha GFlM. marker ,enl. shOlJid ba usad Tha 101al g'oSl aSlrmaled rafll must repra.enl renl ch"acfarl'Ucs cOMlsleol ....tlh the sales comol,abl. data uSalllO de"va the GAM.
ThaTotalg,os.asllmatoo rantisMI adlllsted to, vacaocy.
ii LEASES ACTUAL RENTS ESTIMATED RENTS
tmi.iii;, leosaDala NO.Uni,. p.,lJnit '.0 ~... \J1'In TOlal
I~- .., - Vacan, Unfumlshad Furnished Rants Un/...rnished Furnishad Rants
1 NA NA o . 425 . , 425 $ 575 . . 575
1 N/A N/A 0 400 400 575 575
11~lIl . 825 . 1 150
Ol~ m01lthly incoma lilem;.at None noted I -0-
Vacancy; Actu,;I-laSfy.aaf ~'llo .Pr;,viouSVilllf ~" Estimalad: .02 '" $ 276 Annu.Uy Totlllgr........,:imll1edftll1l $ 1150
Utiiill..includedinesTim~t8d relit,; 0 Elacnic 0 WOler iii Sew" ~a. 0 Oil ~ Tr.shCQllaction 0
Comments on rent sChallule, aclu.l ranlO. aSlimatad '<lnts (especially 'agerdlng dill.ren~es bel.....'.fl acl!JaI _ astlm.'ed /snt.,. uliliTies. elc.; Ren1:S for sub; ect are
low for this area.
..
fladdieMacForm72110194l MCS. . Qi,,>smr. ~ At1 D.valoomanl 18001 691-77B3 P.g.3014 FaMieMaeForm1025110194l
MARK F HILBERT & ASSOCIATES
SMALL RESIDENTIAL .';OME PROPERTY APPRAISAL REPORT
.....':;::::.. (he unclelsig""d "8. '"cited lh,,,,, '"ee'" .a'e. of p,ope,,;'" mcst similar and pfD~lma(a 10 the .ubio:ct !knwl~ and I:\u oo~'ibell """ ;mM1.e~ In..se in th'"s analysis. If the,. i. a S1gniticMt
.<:::'./- ".n&\'\lfl bflw"" ttoe sublecl and cenlP.roble pt~P""I'es.. the analySIs ,"clud.. a doll", adtustment_reflectlng the m.I~.t 'ueUen 10 than "emo 0' an uplanauOfl supportld bV Ihe m...-ke! date.
:f":'::::::'," It" Sign,'I".n' ;,em .n ,lhe cp~p...a~ property II .up."or 10. r>r "'p'. 1''f''llble Ill"". the .vb,e", P<"l'erIV. . ""nul (-l .dluslmenl os mode, ,hus 'ltducmg t"". adjusted sal.. price of the
eornp"ab" O'OIl"'tv: .f a ~",f'cant .tam 'n ttle comparable propeflY IS Inlenor to. or I... lavarable thin, lhe ""blett property, a plus (+! ""'Iustmen,.. m.d., thus ,nc,eosmg lh. ""'lUSted ..10.
I""co01 thoOcompa,.blepropertv, fllI5-.PrI<>1 -;- Gr.....Month/yAeoPIlI
;-;?\ ITEM \ SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
J:U 415-417 Rockledge Drive 415 W. Keller Street 29 East Main Street 1000 Bridge Street
Lii? AoJd,,,,,. _ ~ Mecha.nicshura. FA Shiremanstown PA New CUmberland FA
1"<< Pro"""i,v ,0 subieCI Elli211i21&2f>t2t 1.5 Miles + 1- 2.5 Miles 6 Miles
!}::,::/I sale.o,;ce $ ilunl. nFum. 1144330 lXlunt. r-1Furn $149 900 IX \Jill (Fum. ,130500
l:::(,}:1 Sole ,ice pe, GBA' t 47.57 . "'2.67 t 58.78
f{::r:1 Gm..moorhl renl t 825 11052 $ 1 060 1802
GHmmO_lnt_mull.11l 137.20 141.42 162.72
Sale. ,jce unil $ $ 72 165 174 950 ,4.3 500
SaI.s rce rOem $ ,14 433 ,14 990 ,14 500
DalOand/or
:,: Vo,i!icali<lnSou'ce. Ins ction C.P.M.L./Court House C.P.M.L./Court House C.P.M.L./e urt House
',,:: ADJUSTMENTS" DESCRIPTION +.. fOt DESCRIPTION +(. 'Adsnnl DESCRIPTION +HIAdIstmI
Ji,: S~lasOfhnancmg DOM 148 DOM 98 DOM 150
",:: concessions Conventional Conuentional Conventional
V:} Dotoof..lell,me 07-18-0.3 4-30-03 1-13-03
-:-:;ti:[: loca,ioo Avera e Avera....e Averane Avera....e
:::it l60seholdlFee Simote Fee SiInDle Fee S .......le Fee S;, rrt1e Fee Si Ie
-i:'l SilO 0.45Acre/Ava 0.28Acre/AH"I 0.3 Acre/A'lTr 0.33 Acres/Ava
V;e", Residential Residential Residential Residential
o j nand al Dunlex/Avcr 2-Storv/Avcr 2-Stv Duol/Ava 2-Storv/Avcr
! r);:;.': alii 01 conslnJ<:tion Brick Frame Brick Vinvl
A e 20 1920+/- 1881+/- 1920+/-
CQr>di'ion Above Averaae Above Averacre Above Averaa8 Above Averacre
Gro.. Build; Atea 2 464 SIt J 034 S.lt -5 700 2 846 S .It -.3 800 2 220 S ,!I +2 400
No. Am. CO nl No. No. Am. Count No. No Am. coonl No. No. Am. COli"! NO.
""" TOll a, allh V~C unit Tal Br aath Vac. unif. Tal a, Bath Vac. "nils TOI Br !lllh Vac
Unjl 1 15 0 15 0 14 0
brukOo",n 1 2.5 0 15 0 1412 1
1 1 0
Basemantd seri ,ioo Part. Unfin. Fu11/Unfinishe Full/Unfin Fu1l/Unf!nishe
funCtional u,i(jlv Averaqe Avera e Averarre Averaqe
)i::-; HIl.liIIolt;oo\mo E.B.B./None Hot;. Water/None Radiator None Hot Water/None
)}} POIkin OOIOff .ile Off Street Off Street Off Street 1 Car Garaae -2 000
IIT:Wi P,oje<:! ameni'ie. & I.... None Noted None Nated None Noted None Noted
I U::;::i:-: m 'W1'ceblol None Noted None Noted None Noted None Noted
Ne!Ad'llo,an _ -..., .5700Jli1il' I, -3800llllltl I, 400
AdIU51eds."spt'ceol
comparable , 138 630 , 146 100 , 130 900
Commen,s M $""5 compari.on IlnclU:ding feconcillation 01 alllndicalo" 01 val"" as 10 consl.o,eocy and ,,"ol;va ,"o"Ulh and ovel,,"tion 01 I"" 'ypical inve.,or'slptJrcf1.se"s motivation in tMt m.'keli
/f) Camnarables chosen were the best closed sales available with in a reasonable distance
Y:':-::i of the sub ect. C.........arable 1 and 2 were considered most influential. Como 3 has one unit
:Zj vacant and unit 3 is an efficienc .
,'<}' ITEM SUBJECT COMPARABLE SALE NO.1 COMPARABlE SALE NO.2 COMPARABLE SALE NO.3
:_~__;;:: OatO, PticI a~d Data None None. None None
:;{~ Source JOf ~"Of .ales NIA N/A NIA N/A
.(% "'iINnvearolaOOf.i.al N/A C.P.M.L./Court House C.P.M.L./Court House C.P.M.L./Court House
:.::::>: Anaiy...of .nycu"enr ag'oemen" ojsal~. oplion. Ofii.1ing'" ,l>e.ubjeCtproporlvano analysis 01 Iny prior sal.. 01 subjact aodcomperable. "';Ihin One yelr of dale 01 apprais.I'
:t The sales camnarison aunroach carries the most weiaht in determin~ market value as it is
-:: b~sed on historicaL infermation and is not as sub;act!va as in the income aooroach.
__0:: TOlaI9'0'S mon'hly es,imaleo 'e~1 I 1,150 _ x glO.. renl mUltiPlier fGRM) 139 .. $ 159.850 INDICATED VALUE BY INCOME APPROACH
:?__ CornmenlSM,nCOmeIPp'o.chllnclud;fl\Ie",*,...(~"'..ilavl\tl.wa...-..:l'et:tmcili81iOflottheGl'IM) Sales ant:lroacn reinforced hv the income
~0; anoroach is a aaod indicator of Fair Market Value.
INDICATED VALUE BY SALES COMPARISON APPROACH.......... _.... _.. _........ ..... _... ... .. " . . $ 146 000
INDICATED VALUE BY INCOME APPROACH... ..".,. .. _................... ..... .. ... .. .. .. . .. .... $ 159 850
INDICATED VALUE BY COST APPROACH.. ... ............... ............ .. ... _... .. ... .. .. ... .. ..... 153 106
TIIi. awn"S"l i. m.oe GU 'u is' 0 subject to IMa repai... .l1e,ellons. in'peclIOO" Of corditlon.llSled below 0 5l1bjeC!lo completion per pi.n. and specillcalion..
:C:' Co",men.. anO candj"on. 01 .pp'""'" The sales cl""lrll"narison a roach carries the most weiaht in determina market
valu~ as it is based on historical information aud is not as subiective as in the incone
I-j a roach nor as deoendent on economic conditions as the cost aUDroach.
F,,,al 'econciliation: I aave the sales cOIllDarison auuroach the most weicrht in this evaluation.
Thepu,p05e (Ollrn. Iw,aisali. toestimol. lh.mlflcetv.lueof lhe real p'opoJlV that i$ lhesubjl<:l 01 l/W. "'110ft, b"",d Orlthtl ebove condition. and the ce'tllic "liOn. contingent .ndllmillng
condi,lons. and marke, val"e deMitiOOlh'U .re SlatOld ;0 II>e .neched F,edOIe M.c Form 4391Fen..o Mae Form l004B (Ilevised 6 - 94 I
I (WEI ESTtM"-TETIiE MARKET VAllIE. AS DEFINW. OF THE REAL PROPERTY TH"-T1ST1:tESU8.1ECT Of"ffilS-Ml'QRT. "-SOl' AUCfUst 31. 2003
(WtIICIi ISTIiE DATE OF INSI'ECTION AHDTHE EJ'FECTlVE OATE Of THIS Ra'ORTI TO BE $ 146.000
II:,[;~:::': APPftAISDl: / Ll SUPBWISORY Al'PRAJSER IONlY IF REQUIREDl;
S,nolure ~ Sian.fUra DOid DOidNo,
Nome Mar~:e:. Hilbert Name In.pect Propertv
DIl Ro ned October 20 2003 Dato Repo,t Sioned
SIal,Certilication ,RL-000388-L Slato PA SlltoC",tiI\c.u..n' Stela
0, SWOLic.n..' RB-029755-A Slate PA 0, SIO..Lican..., SllIe
FrMd'e Mac form 72 110.941 MCS,. Division 01 ACI 0llV<!l0l\llWtl1 \!lOO\<;Sl-11B3 Pag. 4 01 4 F.rt~;e Mae Fo'm t029 110-941
INVOICE
"""'
MARK E. HILBERT & ASSOCIATES
14 North Walnut -Street i'i....u:t!I\i!l!,@t!J
M.ch.nic.burg. PA 17055 03-683M1
I
T<< N
Attention: V
Charles E. Shields III Esq. 0
6 CfOU$9f Road I
Mechanlcsburg/ PA' 1-7055 C
E
Purchaser/Borrower Pioher. Geraldine (ESTATE)
Property Address 407-409-41 Hoaestown Road Unit
City Mechanicsburq Subdivision Silver Sorinr Township
County CUmberland State PA Zip 17055
Legal Description Attached
Ma Reference
Appraisal Fee Amount ....................... .............. . . . . . . . . . . . . . . . . . . . $ 450.00
Mail or Handling Fee. ...$
Additional Charges 1 ...$
Additional Charges 2 ...$
Additional Charges 3 ...$
Sales Tax............. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Thank you for your business ! Total Amount of Invoice $ 450.00
Please detach and include the bottom portion with your payment. . . Thank you ! ~
-------------------------------------------~------
.".'"
AMOUNT
DUE
$ 450.00
TD:
Attentfori~_
MARK E. HILBERT & ASSOCIATES AMOUNT
ENCLOSED
:1,4' 1V0rth -Walfl_ut_ Sttse~
Mechanlc:sburg~ PA 1705'5- $
TERMS . Balance due upon receipt of invoice
Please return this portion with your payment. Thank you!
MARK E.H1LBEfIT & ASSOCIATES
,
, FII~ 03-683MJ.
APPRAISAL REPORT
of
4a7-409-4~1-415-417-419 Hogestown Road
Mechanicsburg, PA 17055
PREPARED FOR:
Charles E. Shields III Esq.
6 Clouser Road
Mec:hanicsburg, PA 17055
AS OF:
August 31, 2003
PREPARED BY:
MARK E. HilBERT & ASSOCIATES
14 North Walnut Street
Mechanic:sburg, PA 17055
MCS. a OMSlon of ACI Development (11001 697-1783
MARK F HILBERT & ASSOCIATES FiJ" No. 03-683Ml.
SMALL RESIDENTIJl COME PROPERTY APPRAISAL REPORT
e" Mdfft$S 407-409-411 stown Rd. Cil Mechanicsbur PA Slale PA Z; Code 17055
91 Oeser; lion Attached Count CUmberland
Ta~ Ye.. R.E. Texe~ $ , .IA55flssm.mlS'
NiIfTlB Silver rin Townshi Me Reference CensosTraclllS
Geraldine ESTATE Cu,rent Owner Same Dccu nl Owner X Tenant Veeanr
X F...Simle Leasehold Pro.ectT eo, Co.-.:!ominium HOAI 1M".
Daleo/Sale H A Descf; ionand'".""..mIOlloanch eslccncessionsto I:Ieaid ...lIer N A
Es Add'ft$ I) Clouser Road Mechanicsbur PA 17055
Addres. 14 N. Walnut Street Mechanicsbu PA 17055
- Sing/IIllIITrilyhousing -
SlngleF....;ty PRICE '" 2-4FlImily
0=_ $lOOO! Iv,"! ""'-'"
[XI Own.r 80 Low 25 Dow"",,
Drenant 220 High [XI Tenant
[XI Vsc.nIIO.5'1lol Predominem [lI Vacant 10.5%)
Vacant 0",".5%1 130
TVPia'2--4t.ni1ybldg. Type Detached NO.uni!. 2 Age 60 yrs. -";'-"1...", ""'~......
TypicaIMnUl'~lo$675 D Sta~ Decl:;;;- Onaf.miry 55 DNotlikerv [iJLikely
E.$(.neighborhoodll!lt.veCllncy .02 ,*,Olnc:eesing ~Stabla o Declining 2.4 family 12 D,nproCento'
O'M iii No OUkely Ifye.orlikely,a..scrl!>e Mu!li.famlly 03 Residential
Commercilll 05
( Vac.) 25
Nola: REemdtt-.raciIllU11pDllitian alm.lIIIigItbcIfhoo..no!: eppnisII~.
Neighborl1ood b<>Jnd...... and CharlOCtari.tlcs: Sub' ect r er is located al He estown Road in Silver S rin
Cumberland Coun pe lvania.
Fectors thet a'ff.C11he marketabllliv of the ~_Iies in the "'"llhborhood {pto.lmlty 10 employment and em.milie.. employmenl stabillly, .we", to merket. etc.):
has ea access to ma'or Hi hwa s Schools Churches 1 t s in adn recreational
TM following available listings "'1>"''''''" the mOS! currenl, .im~.... md pro.imale competilive prope"le. to the subject propooty in the .ubject "'"lIhborhood. This an.rvsi. i. inlended to
evelu.lelheinv""",,v cu""ndv on1he market competingwilh tne$Ubject _"Vln lhesubj&ct ne;ghborhocd .ntlrecent price.ntI marketing l"n.. lfend. affecting the subject ptope"v
IUSlings ouulde lhe subject neighborhood are not consKlered applicabf<tl. The listing comp.".ablesc.n berenl.lo<sa..comparl!bklsiflhllv",ecurrenllvfors ale.
ITEM SUBJECT COMPARABLE USTING NO. 1 COMPARABlE LISTING NO. 2 COMPARABLE LISTING NO.3
407-409-411 Hogestown Rd. 6603 Carlisle Pike 440 Market Street 18 South 18th St.
Mechanicsbu PA Mechanicsbu PA C Hill PA
1.2 Miles+ 5.5 Miles+ - 4 Mile+
Ice X Unf. ",," s 95 000 Unl. Furn S 118 000 X Unf. Furn. t 139 700
A o.im.teGBA 3 740 2 610 1 655
C.P.M.L. C.P.M.L. C.P.M.L.
IUnit.9ITol.rms./9RI8A 3 2 12 " 3 3 12 5 3-1 3 12 4 3
.Im.le ..rbuill 1880+ - 1920+ 1930+
o'.de sonmarket 11" 130 153
Com~iS<lnO'listingSIOSllbjeGtproperty. Listi 1 is in need of rovments has a shared furnace 3 car ara e.
Listin 2 is a 3 sto buildin in . cod location. Listin 3 has oar curb a es! but is in
d location. These were were no la er units available at this time.
Marl<el cooditions lhet affect 2-4 family properllas In Ihe subject neighborhood lincludlng Ihe above neighborhood indica,o<. of growm rlla, I"Op&rly values, dem.r.d/sopplv. and marketing time'
and the prev.'e""" and impact in tt-. .ubjoC1 marl<et arn regarding loan discounts, Inl8<e81 buv<Jowns and c"""",,"ions. and idll<llification of lr_' in listing prices. average day. on the market
andanycll.ngeoverpaslV88r.elc.: There is a stea 1 of ers for r ed riced r erties.
The mulit-unit market has been stea and stable with no forseeble chao es.
Dl<Tl8f'\$ions See Attached Deed TOll<lllraplly Level
Sile.re. 2.5 Acres (BST:!MATKDl Cornsrlot ~NO DYes Slle 2.5 Acres B'ST:rMATKD
Specificroni"llc1l1S/1ificalion.nddescriptlon Residential "'.~ Irre >Or
Zoningcompjlance ~Leg.' DLegaIfNonconlOfminglGrandfelhereduoel Omegal DNOzonlng o..inage ears Satisfacto
HigheS'1 & best Wle as improved: [iI Presentu.. 0 01hm Ustl I..plainl View Residential
Land$Capmg Ade .te
o,~ on_~ "~ Privata DnvllWay Macadam
3-200 '"~ Macadam Aw.remo.",,,,.IItnts uilities & Draina e
CUrl>lllUller None
SKlewelk None FEMA Speciai Flood Ha.erd Are. DYes iii No
StrMllighlS No FEMAZone C MapOste 3-3-92
~. None FEMA Me No. 420370
Commenls Illflparenl edv..rse ee.emenu, encroaChm"",,,, .peci.1 assessments, ,Ilde ....... illeg.' or legal nonconforming zoning. u.... atc.l: None a arent.
Sub'ect however to reservations easments conditions and ri ht of wa of record.
Fr8ddieMacFo<m 72(10/941 MCS. a Division of ACI DawIopmanl 18001 697.7783 Poge10f4 Fannie Mae FPfm 1025 110/941
MARK F HilBERT & ASSOCIATES Filp' No. 03-683M1
SMALL RESIDENT/! ICOME PROPERTY APPRAISAL REPORT
Address 40'7-409-411 H estown Rd. C;I Mechanicsbur PA Slate PA Zi Code 17055
81 Oeser; tkln Attached Covnl CUmberland
Assessor'sParce/No. T""VeM 1'\.\:. 1"~~"" ~ , eIAs.'lfl'SsmenlS'
Nej hborhoodor Pr 'ectNe"'" Silver S rin TOW%1Shi Me l'lefer9l1ce Cen.v.TracI118
Borrowllt pi her David T ESTATE Cu""ntO....."'" Same Dacu nr ,.~ ,-~ v,,~""\
X F""S;m Leerehold Pro'e,;tT eo, Coodominium HOA $ ,",
D~eof5ale N A Descri lion'nd $ amoontofloench slcon<:essionstobe eidb seHer N A
Es Addra" 6 Clouser Road Mechanicsbur PA 17055
Addr8$S 14 N. walnut Street Mechanicsbur PA 17055
........... Sir>(l/Itf-ooyhlMing ............ 2.41~hatsing
~Fllflily PRICE '" 2-4FlOfIlilv PRICE '"
- $1000) 1'1'''') - slOOOI (yrsl
~OWM< 80 Low 25 DOwner 80 Low 55
OrMan! 220 High [lgTenanl High
[XIvec.ntIO-5'l61 Predominant QQ Vacant (O_5'll.) Predominant
V.cantlove,5'll>) 130 70 V""antlover5%1 130 65
TypcaI 2-4 fBmivbldg. Ty"," Detached No. slories 2 NO. una.. 2 A1/8 60 yrs ~1end0J88" """--..
Tv~ical rent! $ ill- to $ 675 ~(t\Cf~ 0 SI~D 08\;1:;;- On81"m~y 55 ONolli~elY ~Ukelv
~llt.neigl1borhood apt. vscancy .02 ""Olncles.ing ~St8ble o DeClining 2.4 family 12 o I~PrQce..lO:
Dve. ~No o LiUly Ifve'orli~~y,de",,"ibtl Mulli.lamiiy 03 Residential
Commerci.i 05
( Vac.1 25
-=R8ce__rllCielcompasitlonoltheneighborl1ood....not"l'l"1liAlfllC\tJfS.
Ne<lIhl>orho<>d tloundarie. ond Chllfacteristics, Sub eet r .rt is located alon Ho estown Road in silver S rin
ownsbi Cumberland Caun P Ivani.a. .
F$CI"''' lhllT .Ifeet the rnar~etat>liliy of the proP8ftie. in the ""'lIhborhooo IprQ"imity !Q emplQymen! .r>:! arnenitie.. emplQyment .tability. .ppeal to market, atc.1
has eas access to ma or gi hwa s Schools Churches 1 nt s in adn recreational
TI>8 following availablelia"ting. represent!1>8 moSt current. simile., end pro"imate COITlP<ltitive j)fQ~ie' to !he subject properly in the .ubjeCl neighbo.hood. This .n.IVSi. i. intendo>d tQ
8'l.....ale (/>!I inV<<nl.<:<<'i =r<<ontt't ontl\e <"<\('<kll\ <l<>Il'P"1-i"I) wl\h \hIl~t p'opeI'tym tl1esubjec't neigh'l>othood and lec.n! pr'r<:e sr1<l ma.l<e1ing time trend. affectinll tM ,ub!""l l"OPllrty
It.i.lings ""tside the subject neighlwrhood are nOl con.idered "IIplicablel. Theli..lingccmPa.ablescanbe.entlllo..alecomparablesiflhaV,'ecurrentlylo,ule.
COMPARABlE LISTING NO.1 COMPARABLE USTING NO.2 COMPARABLE USTING NO.3
6603 Carlisle Pike 440 Market Street 18 South 18th St.
Mechanicsbur PA Mechanicsbu PA C Hill PA
1.2 Miles+ 5.5 Mi1e:s+ 4 Mile+
,~ x Urn. F\I(II. t 95 000 x 'Jill. FIIlIl. $ llB 000 x. Un!. f-Ufll ) 139 70n
^ oximateGBA 3 740 2 610 1 655
I~s C.P.M.L. C.P.M.L. C.P.M.L.
3 2 12 6 3 3 12 5 3-1 3 12 4 3
oximate . buill 1880+ - 1920+ 1930+
""m""'lIl 116 130 153
CompariSOl\ofli.tinq'losubjaClproperW; Listin 1 is in need of rovments has a shared furnace 3 car ar.
Listin 2 is a 3 eta buildin i~ . location. Listi 3 has r curb a .1 but is in
a cod locatiort. These were were no lar er units available at this time.
Mark"t conditions that affect 2.4 family propert;.,s in IIle subject nei\lhborhood (inclllding the aboye oo;ghbClhOod indicato.. of growlh r~te, property value.. demand/supply. and marketinll time!
.nd 11>8 p_........~ and impact in the su~ ma.lcet a.... 'egardi"llloan di.~"""l', inte.est buydown. and c""ce..ions,...-.:I identificRtion of lrend. in li.Mg orice.. a""rage day. Qn the market
and any chlIoge OV<lt past ye"'. etc.: There is a atea 001 of bu ers for ro erl :ciced ro erties.
'!'he mulit-m\it market has been stea and stable with no forseehle chan es.
Dimensions See Attached Dee.d 1opography Level
2.5 Acres (ESTIMATED) Co.nerlot IilNO Ye. Size 2.5 Acres ESTIMATED
Spedficzoniogclnaif1cati""anddesc.iption sidentia1 Shape Irre 1ar
Z<>n<"II complianoe gg Legal 0 Legal/Nonconforming lGrandfatherold ".el Omegal Nozoni"" Drainage A ears Satisfacto
Higt>est& best "H as imp.ovtld: [iJp..."""tu,a o Othe.uu(explainl View Residential
Landscap;ng Ad. .t.
Other on.sIloo~ "~ Public Private D.iveway Macadam
3-200 ~,- Macadam iii Apparentea.ement. Uilities & Draina e
Curb/gult.... Non. D
Sidewalk Non. D FEMA Spe<:ial Flood Haz",d A.aa Oy"" iii",
Streetlight. No D FEMAZona C MapDat\! 3-3-92
AUe None HMAM No. 420370
illegal Of legal nOncorlfo.ming """ing. u.e, e<<=.1: None a arent.
easments conditions and ri ht of wa of record.
Fre<ldie MacFnrm 12 1101941 MCS,.DivisionofACIDevelcpmentISOOI69]-7783 Pagelot4 F.nnie Mae Form 1025110/941
MARK 1= HilBERT & ASSOCIATES
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
Genolrllll~ E>n:er\<lf00scr;pll0n IMsterlaTslcondllionsl ,....... InsutBtion (fl-.....""'ifkllOwRJ
UnilS!bldgs. 3 11 Foundation Block Slab No ORDer
SlQrias Two EXlarlorwalls Brick Alum. C'swl!ll>'l<:oO No lilCeiling
TypefdeUatt.1 Attached ROOf$U,f.ce C sition SumpF'ump S IiJwalls
Oes;gn(.tyle) Townhome Guuer./dwn.pIS Aluminum Damp",," Yee ~FIOOf
Existing/propOsed Existin Window type Double Hun s..We",omt None Noted o None
Und",conslruc6on No Storm s&sh/Sc'''''1lS Yes Yes Infosla!lon None Noted Adequacv
YSIUSuUI 1965 M_iactllfe<\hOI>3ing" 0'1.. x", e.sement 100 ""01 lstrloor.rea Erlefgyeffldenlitsms:
Effecti~. agslyrs.l 8-10 "(Complies with!hI! HUO Manu/actu'lId Housing Basement finish Unfinished None Noted
COI1.lructiDflandS.fetyStsnd",<ts,)
Units """" Foar ~ Oi..;" Kitchen ~ Fomil rm. Bed,m. lOeth. ,~.. 0""' ,IUunl! To,.. I
3 1-2 1 Area 1 2 1 1 5t 1 120 3 360
1m ovementsconlain' 12 Rooml' 6 Bedroom!s' 3 Bothlsl' 3 360 S sfalemofGROSSBUILDINGAAEA
GROSS BUilDING AREA IGBA' IS DEFINED AS THE TOTAL ANISHED AREA (INCLUDING COMMON AREAS' OF THE IMPROVEMENTS
BASED UPON EXTER10R MEASUREMENTS.
'""- IMaterials/condition) - Kitchen equip. lofADt-cond.1 A"" C",Sto<_ No_C.rs 12
flOOtS Hardwood .". Hot Wat.er ReWgerolllf None 8'"~ Garage 0
Walls D all ,~, oil Raogeloven 3 Stairs Carport 0
T,;mlfjni~ Wood Coodilion Avera e Q(S!"'W None 00'''1).1'';' Al1:at:hed 0
Bathlloor Vin 1 DIst'twashef None iii Scuttle Detached 0
6th w.inlcot Tile c_ Fon/l>ood 3 o Floor Adequate 0
Doors Hollow Core Cenusl " n. Compsctor None o Heale<l Inadequate 0
Olher " . Walherldr~ Non. o Finished OilstrOOl IiII
Cor><lilion Mlcrowavs None OUnliniShed Nons 0
Fire Isce(sl None . Inleroom None
Cor><li~OI1s Ollhe imp.-ovsm6f1IS. r"llllirs naede<l. '1UIllly 01 conSlJuction, &<Iditionel fuWfU, ~M..ti<1<', o\c.: Sub oct ro art: is in avera e
condition.
Dep'ecisp,," (physicel. functional. and external inadequacies, etc_I' There is no evidevce of functional or externia1 obsolescence.
Adversa environmenlsl condjjions ISUGIl "". bot not Iimiled 10. hazard""s w!lltes. toxic substances. OW;.\ \l<"S<mt in It\<s im\l'"o~"mIIl1ts. GlI tlI<o sil<l. '" in t~ imTTmdia1e vicinity ol the subject
property: There are no visible or a arent adverse environmential conditions that would
ne ativel act the value of the sub'ect.
VALUATION ANALYSIS
ESTIMATEDSITEVALUE. ., 90 000 Comments on COSI Al>prolllCh lsuch as, sovrce 01 cost eSlimat.., site ~alve. squar.. foot
fSTIMArEO REPRODUCTION COST.NEW OF IMPROVEMENTS, t:lIlwlll1ion and, lot H\JO and VA.. the ostim3l&d remaining economic Ii!.. of t"" property]
Sq.Ft.@ $ 52.00 -, 174.720 In re reduction cost of rovement Marshal &:
Sq.Ft. @ , -, swift Handbook and local contractors are
Sq,FI.@ , -, r ferenced.
Sq_FI.@ , -,
Sq.Ft @I , -,
-,
-,
-,
-, 10.000
-,
Spec;a(l'""rgvElflcien!ltems .,
.,
TOlalEslimaledCostNew. ., 184.720
Phvsicai Function.1 Ex'ernal
12 I I
20.614 ., 20.614
O..precial'!<l'Jalueollmpro""ments. ., 164 106
"Asis"VaiueoISjlelmprovemenls. . ., 2 500
INDICATED VALUE BY COST APPROACH. ,-' 25G GQG
Ff&ddie Moc Fou" 72 (to!94\ MCS..O',visionol AClo.w..lopmenl (8001 B97.77B3 Pag..20f4 F.nnie M.e Form 102S 110/941
MARK F HILBERT & ASSOCIATES
SMALL RESIDENTIAL. ,OME PROPERTY APPRAISAL REPORT
Al least th,ee flllllal comparable" should i)e rllP"rt9d .~d .nalv.ad in ,his section. The renlal comparables should fllpresDnI the moS! Cu"enl ,enlal informalion on p,operti..s II' similar .nd
proxlmll'''!o the subject p;cperty II' pOllsible. ITl1is comparison is based on curren! rlln1111 dlllll. Ih"",lo,,,. Ihe IlInll1l compar.ble. typically "'II nOl the ""me comllarabllls used in thll sales
comp..,lsOllllnlllysis.) The IIWflllsltl report should 85SUrllthll reader lhal the uo<l.""d p,ope,tllls..lllcledllscomps'lIble'.'lIcompllfabllltolhesubjIlO"t proplllty Ibothlhe units ond H'II
oY8J.,lprOj)erty!ondacCU'IIWY'IIp;esllntlherenll1lmll,ketforthllsubjllctproperly lunlllSS O1he,wlsestat!>d within ttle 'elX>rtl
ITEM SUBJECT COMPARABLE RENTAL NO.1 COMPARABLE: RENTAL NO.2 COMPARABLE RENTAL NO.3
....ooress 407-409-411 Hogestown Rd 325 West Main Street 29 West Locust Street 6603 Carlisle Pike
Mechanicsbu:c FA Mechanlcsbur PA Mechanicsbu PA
f'to~imitvlosubjeCl 1.5 Miles+/- 1. 5 Miles+ /- 1. 2 Miles+/-
LU:Moat8S ifa".ilable) NA NA NA
Rent Sur dale 9 10 03 8 13 03 10 03
Data source Inspection Inspection C.P.M.L. C.P.M.L.
Remconct'ssions None noted None Noted None Noted None Noted
I Units 3 IIV8C. 0 II Units 2 II Vac.O Y,.Blt:1842 I Units.2 II Vac.1 Y,.Blt1920 1 U<'i\S 2 1'1'""'-_1 Y,.Bw1880
DeScriplionot Y'.Blt.' 1965
p<operty-uniIS.
design,alWeal. T us. 2 St Du lex 2 St Detached 2 St Du lex
lIQ8.\I"&CiIrlCl1l$, Avera e .&1 Good . .&1 Avera .&1 Avera e .&1
~conditions Avera C ditio Good Condition Avera e Condition Pair Condition
Am. Count Size Rm.Count Size Tolal Rm.Coont Size Total Rm_Count Size Tot.1
Tot 8r 8ath Sq,FI. Tot Br B.th Sq.Ft. Montl11vRem Tal B' Bath Sq,Ft. MontflIVFl""1 Tal B' B.th So,Ft. MonlhlyRent
\<'I<IWidu-M 4 1 120 4 1154 600 5 1044 o 7 2180 0
unIt
braakdowr> 4 1 120 4 1118 600 4 1044 450 5 1560 550
4 1 120
Water Water Heat Heat
Sewer Sews:c Sewer Water Sewer
Utilil..s. Trash Trash Trash Trash
fu,nilu,e.nd
.menilia. R e OVen Ran e Oven Ran . Oven Ran e Oven
i(lcludedin 'enl Heat b Tenant Heat b Tenant Refri erator Water b Tenant
Elec. Tenant Blee. Tenant :81ec. Tenant Elee. b Tenant
Full Basement un Part Unfinished Full Unfinished Part Unfinished
Functiomllutiiity, Avera e Utili t Avera e Uti1it Avera e Utili Ave.ra @. Utili
base"""'l, No Air Condo No Air Condo Window AC's No Air Cond.
he.ting/cooling, Hot Water A Elec Gas A: Gas H.Air " Hot Air Av
pfoject.me"'II....etc.
Non. None None None
off St. Parkin Off Street 2 Car Gar Off Street 2 Car Gar Off Street 3 Car Gar
....nalysi. of 'emRl dala and auppon for estimated market ren1$ for the individual subieCl unilS (indudinQ the todiu.unents ua<!d. I.he~vo(<ocm~"'abi<l~.".",a( Co<'<:"",i"""-."'C.\
Rentals in this area are 00
U )eets rentsc e The 'enl scMdu.. ,.concii... the ap~icalJje ir>dica.ed montt>ly market ,ents to the .pprop'iale sUbjecIUnit. and provides the estimated ,""ts fo, tM sUbiec.
propeny. The .p\>raiae' must ,eviaw lhe rent cha,ac.eristics of the comparalOe nle' 10 datermine whether estimaled ren" .hould reflec. .ctu.1 or m3fkel 'anI8. For ...mpie, if ectual ,ents
,..ere availab.. on the $I!!ea compa'.blee end ull8d '0 derive the IIro.s 'enl multipliar iGf'lMl. act~al renlS fo' tile subject should be used. If markel rent. were used '" conSlruct tne compa,ables'
ren.. and deriva I"" GRM. market 'ents should be uset!. The 10lal gross estimaled ,em must represent ,ent charac.e,istic. consiSlent with the sales compa'able dala used to derive the GRM.
Thelot..grOllSeni",ated'ent;isru>tadjust<l<i(<><vaanoy
LEASES ACTUAL RENTS ESTIMATED RENTS
Le09ll0ete 11I0. \Jr>'~s ~\Jnit Total l'erUn.,t Total
Begin .., ,- Ullfumished Fumished Renl' Unfvmished Furnished Renl>
1 N A NA o , 400 . . 400 $ 575 $ . 575
2 N A NA 0 375 375 575 575
3 N A NA 0 375 375 57 575
. 1 150 . 1 725
0\1....- <m>n\N'I inc"",,, \itam\ze\ None noted ,
Vacancy: Ac'u.1 laafyee' 02 . Pr""iou.yee, 00- ~stifTlaled, 02 . . 414 AnnuallV TotalgrO!Jtll!Stimatednmt $ 1 725
Uliiili...inc:!udedln....lmoted'enls: OEleC1rlc IiJwater ~Sew", o Ga. 0011 ~TrunCollection 0
Comments on 'ant .checlukl. actual ,an", aatimated rentS ia.peciaily '''I7..di''ll dllferen-cBS tle1wa'ln .cruel and e..imaled rantsl. Uliil.i,,", etc.: The rents in the sub. ect
are low.
~ledtl\eMi>C~orm72110194) MCS,. Division of ACI Oavelopmen.j800l 897-7183 P"l7e3ot4 Fannie M.e Form 10251101941
MAR~ F HILBERT & ASSOCIATES
SMALL RESIDENTIAL. JOME PROPERTY APPRAISAL REPORT
TI>e undersigned hes recited In," .ecent sales 0/ plO~<1ies mo.t .imila, 800 proximate 10 the "'bjee! ~roper1y and hItS described .00 ."SIYled thS58 in this analysis. II there is a Significant
vanallan belWMKl the subfe<;1 and comparable prOperUs..lhe ""8Iy,"' ,ncludes. dolla, adJu'lmenuSflect,,'g the market ,eaCUon ,<> l1>o5e "ems or an .'planation supported by too market data
~:.,:~:~,;a;;:~,;:/' Ii": 'i~onr;;Fc"~lb::e,::r~y ~m~~~::: ~~:I~~1n,~7~;~~~ otl~ee;... ;~or~~'I!.e~~:~.o~;~~b~~'~~ty~d~u~I~'t~;'.;;':~e~tU~ r~~;I.n3,~':in~~~~~~~~ :~~a~d~~~o~:I~
Pncs Dlll>e comparable property. 1111 Sales Price : GroaMonthly RenUI
rT<M SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
407-409-411 Hogestown Rd. 415 w. Keller Street 101-103-105 Locust Str 29 East Main Street
Mechanicsbur PA Mechanicsbur PA Shiremanstown PA
1.5 Miles+ 1.5 Mi1es+ - 2.5 Miles+ -
. X Unf. Furn. $ 144 330 xUn/. Furn. ,208 000 X Unf. Furn $ 149 900
. $ 47.57 $ 62.20 $ 52.67
, ,1 052 $ 1 670 $ 1 060
Glossmo.rnt_mull.lll 137.20 124.55 141.42
rUllit , ,72 165 t 69 333 ,74 950
,oom . t 14 433 ,14 857 $ 14 990
C.P.M.L. Court House C.P.M.L. Court House C.P.M.L. Court House
DESCRIPTION +. . DESCRIPTION +(-1$ DESCRIPTION +H ,
DOM 148 DOM 88 DOM 98
Conventional Conuentional Conventional
7 18 03 7 31 03 4 30 03
Avera e Avera e Avera e Avera e
, Fee S' ,. Fee S' ,. Fee S' ,. Fee S. ,.
1.25 Acre A; 0.28Acre Av +4900 0.31 Acre Av +4700 0.3 Acres A +4700
Residential Residential Residential Residential
. Townhouse A 2-Sto Av 2-Sto A 2-St Du lx A
Brick Alum. Promo vin 1 Brick
1965+ 1920+ 1985+ -15000 1881+
Above Avera e Above Avera e Above Avera e Above Avera e
A'ea 3 360 .". 3 034 S.lI. +3 300 3 344 " 2 846 S.ft. +5100
"' Rm.counl '" "' Rm.caunt '" '" Rm,coum '" '" Rm.caunt '"
,m Tot Sr Bath Vac. '0' TatBr ."" ,,, unilO Tot B' Balh ", unil5TotBr B.th ",
1 1 1 5 1 0 1 , 1 0 1 5 1 0
1 1 1 3 1 0 1 5 1 0 1 5 1 0
1 1 +30 000 1 5 1 0 +30 000
Full Unfin. Full Unfinishe Full Unfin Full Unfinishe
Avera e Avera e Avera e Avera e
IcooH Hot Water Non Hot Water None H. CA -5000 Radiator None
Off Street Off Street Off Street Off Street
None Noted None Noted None Noted None Noted
None Noted None Noted None Noted None Noted
. 38 200 , 39 800
, 182 530 , 189 700
Com""",,, on $alltS compa,iron lillcluding rl>COnciii&1i<Jn of all indicators af v.lu.. 05 to con!iisl""cy and relative ",r@f1glhandav.luationotlhelypicalinveslor'slpurchaser's mativ.tion in thot m"'~ell
C ar&bles chosen were the best closed sales available with in a reasonable distance
of tbe sub'ect.
rT<M SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
None None Non. None
H/A H/A H/A H/A
HA C.P.M.L. Court House C.P.M.L. Court House C.P.M.L. Court House
An.ly.is"fanycurrent.gr....menl.ots.l9. oPtion,orli.tinllOflh.""bjBotp,opertyarldanaly.isof""yp'ior5alBS of ""bject and comparablBS wilhin one year "f date of appr.i.al'
The sales c arison a roach carries the most wei ht in determi market value as it is
based on historicaL infer.mation and is not as sub'ective as in the income a roach.
Totalll'O$S monl~ly eatlmated 'enl $ 1,725 Xgrossr""tmullipliB'IGRMI 13' _$ 231,150 INDICATED VALUE BY INCOME APPROACH
Comm.ntt on income appr"ll<:h !inclooilllJ expense ratios, ~ avaHalIl.. and r""oneili.li"n of the GRMI Sales a roach reinforced the income
. roach is a od indicator of Fair Market Value.
INDICATED VALUE BY SALES COMPARISON APPROACH. .. _.. ......... . . . . . . . . . . . . . . - . . . . . . . . . .. $ 192 500
INDICATED VALUE BY INCOME APPROACH.. .... ... .. .. _....... ..... .. ..... .. .. .. _. ........ . 231 150
INDICATED VALUE BY COST APPROACH ... _. _.... _........ _.._............. . . . . . . . . . . . . . . . . . . . . 256 606
Thi.app,&i.ali5made ~'asi5' o subj<ICtlolh.,.pairs.altBr.ti"ns,in.peclion5.or conditiOllsli.,lldboiOow o ""biBCllocomplelionpB,plansa""'.pecifieallons.
Comments .rod conditions "t appraisal; The sales c arison a roach carries the most wei ht in deter.min market
value as it is based on historical information and is not as sub'ective as in the incone
roach nor as endent on economic conditions as the cost a roach,
The purpose <>flhia appraisal is ta_Imat. them.rketvaiusalths,.alproperty Ih.ti5tn..subj.ctofthi5'sport.bBSe<lalllhe.bo....conditi"n..ndth.eertilicalian,oonlinllenl.andlimiling
oorldiliollS. arod market val"" definition that a'e stated in Ih. attached Freddie Mac F,,'m 4391F.nniB M... Form 1004B IRevised 6 - 94
I lWEI ESTIMATE THE MARKET VALUe. AS DEFINED. OF THE REAl. PROPBlTY THAT IS THE SUBJECT Of THIS REPORT, AS OF Au st 31 2003
/WHICH IS THE DATE OF INSPECTION AND TH t 192.500
SUPERVISORY APPRAISER {OM. Y IF REOUIR€Dl;
Siollatu,e OOid OOidNOI
N.mB InspeCIP,operty
2003 O.t.Re "'t~ nlld
StatePA Stat. Ce'litic.tion # Slate
StalePA O,SlaleUCell5ll# SIal.
Freddr..Mar; Fo'm 72 110-1141 MCS.aOivision"tACI0.velop.mentIBOOI697.77B3 Page4of4 FannlBMaeFarrn 1025 110-941
MARK E. HILBERT & ASSOCIATES File No. 03-683M1
,
OPERATING INCOME STATEMENT
One-to Four-Family Investment Property and Two-to Four-Family Owner-Occupied Property
Property Address
407-409.411 SOgestown Road Mechaniesburg PA 17055
Street Citv State Zin Code
General Instructions: This form is to be prepared jointty by the loan applicant, the appraiser, and tender's underwriter. The applicant must
complete the following schedule indicating each unit's rental status, lease expiration date. current rent, market rent, and the responsibility for
utility experlses. Rental figures must be based on the rent for an unfurnished unit.
Currently Expiration Current Rent Market Rent Paid Paid
F\ented Date Per Month Per Month Utility Expense By Owner By Tenant
Unit No. t Yes ~ NoD $400 $575 EI6~tTicity. ..... . 0 ~
Unit No.2 Yes ~ NoD $375 $575 G" B 0
Unit No.3 Yes IiI NoB $375 $575 Fuel Oil. ~
Unit No.4 Yes 0 No . . Fuel (OtherJ . 0
Water/Sewer. ~ B
Total........ _ _. _... _. _....... _....... $1.150 $1.125 TrashFlemoval.
The applicant should complete all of the income and expense projections and for existing properties provide actual year.end operating statements
for the past two years (tor new properties the applicant's projected income and expenses must be provided 1. This Operating Income
Statement and any previous operating statements the applicant pI"'3\ri~s must then be sent to the appraiser lor review, comment, and/or
adjustments next to the applicant's figures (e.g., Applicant/Appraiser 288/300). If the appraiser is retained to complete the form instead of the
applicant, the lender must provide to the appraiser the aforementioned operating st<ltements, mortgage insurance premium, HQA dues,
leasehold payments, subordinate financing, and/or any other relevant information as to the income and expenses of the subject property
received from the applicant to substantiate the projections. The underwriter should carefully review the applicant's/appraiser's projections and
the appraiser's comments concerning those projections. The underwriter should maKe any final adjustments that are necessary to more
accurately reflect any income or expense items that appear unreasonable for the market. fRe,,1 estate taxes and insurance on these types of
properties are included in PITI and not calculated as an annual expense item\. lrn:oma snould be bllsw on cunent Tents, but should not
exceed market rents. When there are no current rents because the property is proposed, new, or currently vacant, market rents should be used.
Annual Income and Expense Projection for Next 12 Months
Adjustments by
Income (Do not include income for oWl1er-occupied units} 8y Applicant/Appraiser Lender's Underwriter
Gross Annual Rental (from unit(s) to be rented). . ... $20.700 $
Other Income (include sources) . . ... + +
Total.. . ...... ........... .... .... ....... $20.100 .
Less Vacancy/Rent Loss. . ....... .414 (02 %1 1 %1
Effective Gross Income... ... ....... $20.286 .
Elcpenses (Do not include expenses for owner-occupied units)
Electticitv. . .... .......
G" ......... ...........
Fuel Oil ....
Fuel. ...... .... {Type- 1
Water/Sewer.
Trash Flemoval
Pest Control
Other TaMS or Licenses. ...... .......
Casual Labor 633
This includes the costs for public area cleaning, snow removal, etc.,
even though the applicant may not elect to contract for such
services.
lnte\"ior PaintlDecorating . . . . . ...... ................. 14.
This includes the costs of contract Jabor and materials that are
required to maintain the interiors of the living units.
General Repairs/Maintenance .. . 6.006
This includes the costs of contract labor and materials that are
required to maintain the public corridors, stairways, roofs,
mechanicai systems, grounds, etc.
Management Expenses
These are the customary expenses that a I'rofessionai management
company would charge to manage the property.
C..n~""~
MARl' ~ HilBERT & ASSOCIATES
REPLACEMENT RESERVE SCHEDULE
Adequate replacement reserves must be calculated regardless of whether actual reserves are provided for on the owner's operating statements
or BfB customary in the local market. This represents the total average yearly reserves. Generally. all equipment and components that have a
remaining life of more than one year-such as refrigerators, stoves, clothes washers/dryers, trash compactors, furnaces. roofs, and carpeting, etc.-
should be expensed on a replacement cost basis.
Eq~nt Replacement Remaining By Applicant! lender
Cost Ufe Appraiser Adjustments
Stoves/Ranges. @ $450 ea.-;-~Yrs.x3 Units", $75 $
Refrigerators @ $ e8'7_ VfS. x Units'" $ $
Dishwashers @ $ ea...;._ Vrs. x Units'" $ $
AtC Units..... @ $ ea. - - Yrs. x Units = $ $
C. Washer/Dryers.. @ $ ea.-:-_ Yrs. x Units = $ $
HWHeaters..... . @ $250 ea. -:- 1L- Yrs. x 3 Units'" $41. 67 $
Furnace(s). @ $875 ea. ":"li- Yrs. x 3 Units = $105 $
lather).... ..... @ $ ea.7_ Yrs. x Units = $ $
Roof...... @ $5.500 -:- li- Yrs. x One Bldg. . . . . . . . . . . . = $220 $
Carpeting [Wall to Wall) Remaining
Life
[Units) 375 Total Sq. Yds. @ $ 12.50 Per Sq. Yd. -:- ~ Yrs. = $260 $
(public Areas) Total Sq. Yds. @ $ ~ Per Sq. Yd. -:-_ Yrs. = $ .
Total Replacement ResefVes. (Enter on Pg. 11 $702 .
OPERATING INCOME RECONCILIATION
$ 20.286 -$ 2.254 = $ 18.032 -:-12 = $ 1.502.66
Effective Gross Income Total Operating Expenses Operating Income Monthly Operating Income
$ -$ = $
Monthly Operating Income Monthly Housing Expense Net Cash Flow
[Note: Monthly Housing Expense includes principal and interest on the mortgage, hazard insurance premiums, feal estate taxes, mortgage
insurance premiums, HOA dues, leasehold payments, and subordinate financing payments.)
Underwriter's instructions for 2.4 Family Owner-Occupied Properties
. If Monthly Operating Income is a positive number, enter as 'Net Rental Income' in the 'Gross Monthly Income' section of Freddie Mac
Form 65/Fannie Mae Form 1003. If Monthly Operating Income 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 subject property to the borrower's stable monthly income.
Underwriter's instructions for 1-4 Family Investment Properties
. If Net Cash Flow is a positive number, enter as 'Net fiental Income' in the 'Gross Monthly Income' section of Freddie Mac Form 65/
Fannie Mae Form 1003. If 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 lor the
borrower's primary residence to the borrower's stable monthly income.
Appraiser's Comments (Including sources for data and rationale for the projections)
$~ ~/
/ 'pp.
Mark B. Hilbert October 8, 2003
Aooraiser Name A raise Sionaptl V Date
Underwriter's Comments and Rationale for Adjustments
Underwriter Name Underwriter Sin nature Date
Ffeddle Mac FOfm 998 Aug aa MCS, FlIchardson, TX 75081 [2141669.7783 P"IIe2ot2 MCSFormOl2
f.nnia MM Form 216Aug 88
MARK F I-fllBERT & ASSOCIATES
,~o. 03-683Ml
Borrower/Client Pi her Geraldine (ESTATE
Pro ert Address 407-409-411 Rocrestown Road
Citv Mechanicsbu....... Countv CUmberland State PA Zin Code 17055
lender Charles B. Shields III Esq.
ADDENDUM B
APPRAISAL CERTIFICATION
I certify that, to the best of my knowledge and belief:
- the statements of fact contained in this report are true and correct.
- the reported analyses. opinions, and conclusions are limited only by the reported
assumptions and limiting conditions. and are my personal, unbiased professional analyses,
and conclusions.
- I have no (or the specified) present or prospective interest in the property that is the
subject of this report, and I have no (or the specified) personal interest or bias with
respect to the parties involved.
- my caapensation is not contingent upon the reporting of a predetermined value or direction
in value that favors the cause of the client, the amount of the value estimate, the
attainment of a stipulated result, or the occurrence of It. subsequent event.
- the appraisal assignment was not based on It. requested minimum valuation, a specific
valuation, or the approval of a loan.
- my analyses, opinions, and conclusia;ns were developed, and this report has been prepared in
conformity with the Unifor.m Standards of Professional Appraisal Practice and also
requirements of the Code of Professional Ethics and the Standards of Professional Practice
of the Appraisal ~nstitute.
- the use of this report is subject to the requirements of the Appraisal Institute to review
by its duly authorized representatives.
- I have (or have not) made a personal inspection of the property that is the subject of this
report.
- no one provided significant professional assistance to the person signing this report. (If
there are exceptions, the names of each individual providing significant assistance must be
as stated.)
- as of the date of this report, ~, _Mark E. Hilbert
have completed the requirements under the continuing education programs of the Appraisal
~nstitute.
A review of this agreement of sales has been determined that personal property items, and/or
intangible items, that are not real property, HAVE NOT been included in the agreement of sale.
Personal property items, and/or intangible items HAVE NOT been considered in determining the
subjects estimated market value.
..................................................................................................
NO YES
l. _X_ - The subject sold during the last year.
Sale price $ Dat.
2. _X_ - The subject was listed for sale at the time of inspection.
Listing price $
3. -"- - The subject was under agreement at the time of inspection.
Agreement price $
October 8, 2003 ~rt
Date
(X) did ( ) did not inspect property
F"'mFH5 MCS, a Division 01 ACI DtIvfllopmentf8001 697-1783
MARK F HILBERT & ASSOCIATES
,'IIo.03-683Ml
APPRAISAL REQUIREMENTS
MANDA TED BY FIRREA
t certify that the appraisal conforms to the Uniform Standards 01 Professional Appraisal Practica jUSPAP) promulgated
by the Appraisal Standards Board of the Appraisal Foundation.
The subject o Us} Ii] (is not) listed for sale. the listing price is $ My estimate of the reaSOnable mark.eting
period of the subject property is
If an approach to value was not used, the following is an explanation why it was not considered.
Cost:
Market:
Income:
The appraisal assignment Otwasl Iillwas not) based on requested minimum or specific valuation or on the approval
of a loan.
I Dlhave) Iillhave no) financial interest in the loan transaction and do not stand to benefit in eoy way from the
value placed on the property.
I ~ (have) 0 (have notl Included a separate assessment 01 personal property. fixtures, or Intangible Items which
are attached to or located on the real property. These items 0 (do) 00 (do not) affect the market value of the
real property.
Any creative financial or sales concessions that are known to the appraiser have been adjusted in the comparables of this
appraisal.
In performing this appraisal, I was not able to review the:
Taxes (insert N/A if inapplicablel
The above items should be obtained by the lender when reviewing the appraisal report.
This appraisal was done with an "as is" market value. This is the value of the property in its current physical condition
and subject to the zoning in effect as of the current date of value.
I certify that I have the appropriate knowledge and experience that was necessary to complete this assignment.
v..rk1!{~~ October 8. 2003
DATE
This appraisal report conforms to the unifor.m Standards of Professional Appraisal Practice
(USPAP) adopted by the Appraisal Foundation.
The builder/seller is paying % points ($ )
and/or $ in concessions on the subject property.
The following personal property, fixtures, and/or intangible items are not included in the
appraised value but are a part of the sale of the subject property.
ITEM ESTIMATED VALUE
N/A
It should be noted that the appraiser is trained in the valuation of Real Property, not
Personal Property, therefore, the above estimated values may have dicrepancies fram real
value.
FormFIL MCS. a Oiv;sion 01 ACI Oevelopmen, ISOOI 691.11SJ
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: FHe No.: 03-683M1 S
I
PropertY Address': Case No.:
City: State: Zip:
lender:
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date:
Appraised Value: $
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: File No.: 03-683M1S
PropertY Addre~': Case No.:
City: , . State: lip:
Lender;
COMPARABLE SALE .1
Sale Date:
Sale Price: $
~
\ COMPARABLE SALE.2
Sale Date:
Sale Price: $
COMPARABLE SALE lJ3
Sale Date:
Sale Price: $
I tr,>..L \, f c".
lr'\l. \ "~I "f'zy;/' \ I
:T-----' l/llL.A.!,....,<~ILI~- fl ~'!\\ ~,\, 0""',((N'~" ~
,ft r'J;,,,'-r~ " I - Y." - " ,
.,-\~"l"~ ,I" -" bY ,
.. .'~' '" " ~ __L.
~., ," ",. ,;0 ,'''' \ . ",_--v
~ ~. .~ g" ':.::1 H Y7f ., . \;~)~~ ;~. ~-~""-'):=;
, \~... 3 '-;-'~ I~' " .,.~ \ (,-
- ~, .... ' .... ,',I ;;:.. 'I ~;, !~." -::=-
" \ . " ~........ ", \:'-'.y' ',~--' ~
F ,,~,:i', ... / .' ~ . )":'-
. ., ,. .' ,-' .'. "
. ;0>"'" .0 -:, ~- ',. ;..' . ~'~- ,'.
Y! ," " . ' ", · -
, ; . "..' . . . ' - ' "'.
.' ' " '" - " ., '
,../" !'~ ~. I ;k~.'" ., r-',.' ;'W'-
~I r-r~~L', '\ .~. ;,1 ~ "\ '....~~.)) '. ~'d5'17(:~{fi~.i"
I../.' I,K),' ,.~' ;0' ..It ~I"",\ I~ \,\,\<,,;) '\,;<"~,
~~ ~1<"",.'~f~ -. - ,. 1\(\' ~". .'..~
-'r.;..'. '" " ",' '" , '''" - \ \ <~
~ .' ..' 4
, . ' . . ,y j . ,... , (.,' ._,
. " ~'7/4.. .'." ~ ","
;; ,""'" ,;, ~p!l~)l1 v/ '
~,'! i. < ~\~; ,,' ~'.;.:~ir \ \~~(,' ^ ~ ,~~ :'1-....,.c.; i
~ d ~ ~ '~ \),~~c: ' ," I _r'''r...J
~ ~ / ' ,.' .,e-;.' ., " ,.
)Ji!, ilL. _ ,'di.\. /"'r.j~ ,\iC::.' ~, ~.'" i '-~:--=,.~/=--::~:<'
. uc' .. ';' ~W 1'--.' ,,-, ..----...- I' .- -;;;;:: ,,'
. ," "U" -- ~,
~"." 'IH~l~~(..~~~." '{4', '{ 1'---=.,:! ~!~';!I!!!'~Ie-b;~.~i).).,
Yi' C1~ "(:r"/.,, ."."",.;) .' ~C"'-0.?
- .. I . . /(
. ,.1 ' ,...Oi.W." -,~"I . ~ ,,,,--,==--,"- ~,
. .,.. >. -~". .. . ,,"'> .~
..\:.,:.~ " '\tb." .n!'~ J", ~~~~ '." .".. .~~'''''-,''.''.'''''''.'
\ / _' 0 H _ I(Y.'~.>. ~fo ~
"'" IV' ,., ,'~/ . ,"~-; .}l ' ~.
, ~ .. .- .' _.-". > '
.#". *' .. ~ ,.. . ""
'''''/I'~' _: . _ ,;:'e". ,_""$'"~.~.-..t-"J:"..'!'.Z / ..:::...
'Y,~~' '11" III \ ",.J:. _V~ ?~-"
~r ~"', T'-- ~. ., '" , - i~~:k~'/""-'li",~,l .....' ' .
., ' "'.. ., ) , J. ..~'. -, (1/'-'
" ".. . ' /-,,/.-
",' ' ,~, 0 >,~-,., '. ~','.
_.. . ' 1/... \" ~~ \1.\' "'--
!J~ '~..~ ;1':' ?," // ~ . i~, )\II~" ','1""
__ _ '.' ~. ' C .' ,. ,,' " ,..
_ . . i '. ~ .. L""~
, " '3>' 1<i"5, . .~ · ' ,''!!I':;>'
, ' ~...-, ,';' '!A\'"
.' "":' .... '.
" .,' ." '
I " ,>^ ~,. ~,~ I ., :j<-",:d: j , . "f'.?~
,,'~ I'\~"~ l,",>il"~"- b"7'c
r ' ,,' ,\ ': ::'. '", ' . ~~ 'd
LP V _~ .:' ~ ~ i"""'-" . .
if u' . ,,," '.,'
.. \~,. 'd' "'" ' .. ' ,,',flY ./
> -., / . , . ",' - ,'. . ..
.i,o;1 . )/ ,l ,," .. IiI' IUl'tJ -'- .' ~
o . I j "'\.. - 'To" ./ /,,~..
a" . ." < . ,-"/ ./
-w'>' .' -..,
, :I ~~~' /,rr.....~ .~ f:\ ~'~,'" , ",,", .... ." )",,~Y,~
"V; j ~ ~ 0 ..' :::o":~" ' I ~ " ....l
~c ',', ....: /.... " 4'i\'f~';-" . - .
,( . / . e? n~ .,' '
u'. I! /" ' " ". ," .' ,. -'. . . . .-
:... " r- 'w A j .~. jfA lc,;_..c .~ ,.." A).<'t:'J '"'.,,,,!'...
~' ' /' , , > ,_ .' {M ,,~;
,^' . ,'-' 4 '
."" <"~ ' ,-" .,,,, y. .
. ," ' . ' ,h ",' ~ · · .
;iI~l/ \\ / ~_, ~ 'f -.:- .'if :i~.;' '~B.
n-'~"'~. Ii:iiL"~' \' .'
_L~'~' v<o~ );i;,~~ Ir'~ .",:;" ----..'\} ," '
, ",.. ,~~= . v..,.'"
, ,~." . """. ." .'
.;- ,"" ." - ... .' -, '
'~_ _ ~ ~ I~~" '~J . ~.~..~"..
-.,~' -Y.'" p.c"
I' ,,' " · ' ,
, d '< '
I I I . "",' . I" ' - " V
~ ,... rill ~\" FiifJ/'... l.. {,"'~.~ ,. ","'/rI." "~. . " ]1 V}!'" -.
7 _,,- . '-" ''''' . "" ,")J> ':<<>>,). ' 'l, "iK .... · '
~)I ~., ~.., ll~r'~',,\...l. ~...-t ~., - ' ~H!il!!t:'ii ,,~ .:'" .,..~
/ "--' I~' .. <,' -' ."
_._. " .' I...c. ,', '. "~~
"" ",-" d' . .
" """,,'ii2tifrM~ - .., ". , ': ..,,",
H ,,;to' . . "21';':'" . '
.. .'.. ~ ~ "
--~""';'"
" ~'.. :... J;~~~c; :t.~
- . ?ljIIf- 1.$i!
~ -- File II
. "
Borrower/Client
Property Ad&ess Slale Zip Code
City County
Lender
BUILDING SKETCH
I Ell]
'V J ~""~
~ ~ t-, l'-& - ~ ~ ::u~
~ c>o ~~
\) :;;; "?V:::; \>I 'l:> "i ~ J
, ~ ~- '1', ~ ~ '" ';]1
'" ,,< ~13 ~
"
G\7
V--
J ~l>-<:;;;
~ ~ ~~
~~ ~~ ----IN
~ ~t- '\ ~nl
"-
t :s "'~ ~ ~., ~ ~ \)'\::i
~ ~ <:l'" ~ ~
~ ~ ~~ "
'\: T1
I ::t-,l<.l;J
"-
- -'.lCV
-C"- ~'V 3==- 00 1" "> 11', ---.~
"\l- vO 0:., '" ~~
N ~0 70"'- ~ 1\ ~ -d
~ ?~ 1'\:, .... "
');..'>> --l 8 ~
... ~ '" ';:.,
~,
WI
'N >J
"'1\ "\)
, "
t:-
v '--'
~~
~::;
~\
~~
'i:. -:
~
J;y
TJ
MARl< E. HilBERT & ASSOCIATES
, 03-683M1
DEFINITION OF MARKET VALUE: Ttm most plObable price whir:h a property should bring in a competitive and open market
under aU conditions requisite to a lair sale, the buyer and seller, each acting prudently. knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date a~d the passing of title ftom
seller to buyer under conditions wherebY: (1) buyer and seller are typically motivated; (2) both parties are well informed Of wen advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) pay-
ment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (51 the price represents
the normal consideration for the property sold unaffected by special or creative ffn.mcing or sales concessions. granted by anyone <lS-
soci<lted with the sale.
Adjustments to the comparables must be made for special or creative fin<lncing or sales concessions. No adjustments are necessary
for those costs which are normally paid by sellers as a result of tradition Qr law in a market area; these costs are readily identifiable
since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the
comparable "roperty by comparisons to finanCing terms offered by a third party Institutional lender that is not already involved in the
property or transaction, Any adjustment should not be calculated on a mechanic<ll dollar for dollar cost of the financing or concession,
but the dollar amount of any adiustment should approximat1:l thi3 market's n~act\on to the financing or concessions based on the app.
raiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTtFICATION
CONTINGENT AND LIMITING CONDITIONS: The appfais8f's certi1ication that appears in the appraisal report is subject to
the following conditions:
1. The appraiser wilt not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is app-
raised on the basis of it being under responsible ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improve\1"lents, and the sketch is
included only to assist the reader 01 the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency lor other data
sources) and has noted in the appraisal report whether the svbject site is located in an identified Special Flood Hazard Area. Because
the 3Pprsisef is not a surveyor, he or she. maKes no g\l3rantees, expreas or implieo, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless
specific arrangements to do so have been made beforehand.
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 con-
tributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalio if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazar-
dous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware 01 during
the normal research involved in performing the appraisal. Unless otherwise stated in the appraisell report, the appraiser has no know.
ledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous
wastes, toxic substances, etc.) that would make the property more Of less valuable, and has assumed that there are no such conditions
and makes no guarantees or warranties. express or implied, regarding the condition of the pl'operty. The appr3iser will not be respon-
sible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions
exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as em
environmental assessment of the property.
7. The appreil;er obtained the \n101mation, estimates, and opinions that were expressed ill the appraisai report from sources that he or
she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuraty of
such items that were furnished 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 base'd his Of het &pP'"ais&1 Hlport and valuation conclusion for an appraisal that is subject to satisfactory camp.
letion, repairs, or alterations on the assumption that completion 01 the improvements will be performed in a workmanlike manner,
10. fhe appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute
the appraisal report Oncluding conclusions about the property value, the appraiser's identity and professional designations, and
references to any professional appraisal organizations or the firm with which the appraiser is associatedl to anyone other than the
borrower; the mortgagee or its successors and assigns; the mortg8ge insurer; consultants; professional appraisal organizations; any
state. or federally approved financial institution; Of any department, agency, or instrumentality of the United States or any state or the
District of Columbia; except that the lender/client may distribute the propertY description section of the report only to data collection or
reporting service(sl without having to obtain the appraiser's prior written consent. The appraiser's written consent arid approval must
also be obtained before the appraisal can be conveyed by anyone to the pubUc through advertising, pUblic relations, news, sales, or
other media.
FreddlaMacForm4396-93 MCS. a Division 01 ACI O"""lopm"f11 18001 697.77S3 MCSFormlCS "allal0rz Fannie MaaForm 1004e 6.93
MARK" HilBERT & ASSOCIATES
.
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that;
1. I have researched the subject market area and have selected a minimum of three 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
appropriate to reflect the market reaction to those items 01 significant variation. If a significant item in a comparable property is super-
ior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comp-
arable, and if a significant item in a comparable property is inferior to, or less favorable than the subject property, 1 have made a pos-
itive 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 of market value in the
appraisal report. I have not knowingly withheld 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 own personal, unbiased, and professional analysis, opinions, and conclusions, which are sub.
ject only to the contingent and limiting conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and t have no present or prospective per-
sonal 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, familia! status, or national origin
of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the
vicinity of the subject property.
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 lavors the cause of the client or any related party,
the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation andlor 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 pro.
mulgated by the 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 01 those Standards, which does not apply. I acknowledge that an estimate of a reason-
able time for exposure in the open market is a condition in the definition of market value and tha astimate I deva!oped is consistent
with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section.
8.! have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as compar-
abies in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements,
on the subject site,or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments
for these adverse conditions in my analysis of the property value to the eJltent that I had market evidence to support them. I have also
commented about the effect of the adverse conditions 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. III relied on sig-
nificant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal
report, I have named such individuaf{sl and disclosed the specific tasks performed by them in the reconciliation section 01 this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any
item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraiser 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: 407-409-411 Hoaestown Road. Mechanicsbura,PA 17055
APPRAISER~/ SUPERVISORY APPRAISER looly if COO"'cod(,
Signature: SIgnature:
Name: Mar . H ert Name:
Date Signed: October 8. 2003 Date Signed:
State Cartification No.; RL-000388 L State Certification No.:
or State License No.: RB-029755-A or State license No.:
State: Pennsylvania. State:
EJlpiration Date of Certification or license: 6/30/03 Expiration Date of Certification or license:
o Did 0 Did Not Inspect the Property
Freddie Mec Form 439 6.93 MCS. 3 Division of ACI Oevelopmenl16oo) 697-7783 MCS Form LC5 Page 2 of 2 Fannie Mae Form 10048 6.S3
QUALIFICATIONS OF APPRAISER
Mark E. Hilbert, CRMA, ICA, GRI
Broker Appraiser
Education:
Real Estate Pennsylvania Title Insurance, Harrisburg
Real Estate Theory and Practice
Real Estate Law
Real Estate Math
Real Estate Appraisal I
Real Estate Advanced Appraisal
Standards of Professional Practice Part A
Standards of Professional Practice Part B
Market Extractions
lPannie Mae Review Seminar
Professional Memberships and Designations:
Senior Member - International Organization of Real Estate Appraisers
American Fraternity of Real Estate Appraisers
Graduate Real Estate Institute
Candidate Appraisal Institute
Harrisburg Board of Realtors
Pennsylvania Board of Realtors
Pennsylvania Association of Realtors
National Association of Realtors
Pennsylvania State Certification NUmber - RL-00038SL
Experience:
C.M. Detweiler Real Estate Inc.
March 1971 to April 1976
Stuard Derrick Real Estate Inc.
April 1976 to OctOber 1981
RE/~ Realty Associates
OctOber 1981 to February 1986
Mark E. Hilbert & Associates
February 1986
Real Estate License: March 1971
Associate Broker: April 1976
Appraising since 1979
Appraisal Experi~nce:
Appraisals for: first mortgage, second mortgage, equity loans, employee
transfers/relocations. single family, condo.
cumberland, York, Dauphin and Perry Counties.
Completed Assignments for:
Banks, Savings and Loans, MOrtgage Brokers, Relocation Companies, Trust
Departments and Attorneys.
Client List available upon request.
.'
. 03-683M2
APPRAISAL REPORT
of
415-417-419 Hogestown Road
Mechanicsburg, PA 17055
PREPARED FOR:
Charles E. Shields III Esq.
6 Clouser Road
Mechanicsburg I PA 17055
AS OF:
August 31, 2003
PREPARED BY:
MARK E. HILBERT & ASSOCIATES
14 North Walnut Street
Mechanicsburg, PA 17055
MCS, a O'VlS'Dn of ACI Devalopmer'tl IB001697-776J
MARr" HILBERT & ASSOCIATES i:jle No. 03-683M2
SMALL RESIDENT INCOME PROPERTY APPRAISAL REPORT
Pro r! Address 415-417-419 Ho estown Rd. " Mechanicsbur PA Slate PA li Code 17055
L al Oeser; lion Attached Coo"1 Cumberland
Assessor's PMCel N<:I. Ta~YUr Fl.E.Taxe.. , .IA....:omem. $
Nei hbofhood or Pro eel N.mtI Silver rin Townshi Me Reference CensusT,.ct 118
Bonow"" pi her David T ESTATE CUffsnlOwner Same Deco ent Ow",", X Tenent Vacant
X F....Sim e le.....hold 'm , '" Condominium HOA $ M,
0.18015.ls N A Oase,; ion."" $ amoontor loaoch.f e.l""ncessiOfl' to be aid seller N A
Addr.ss 6 Clouser Road Mechanicsbur PA 17055
Address 14 N. Walnut Street Mechanicsbur PA 17055
............. SingIIIf_,housing ............. 24 '_Iv hoo3ing
-,- PRICE '" 2-4 Family PAICE '"
- $(0001 (yr.) 0_ .(000) Iv",
~Own.r 80 Low 25 DOwner 80 Low S5
Drenant High [XI Tenant High
[1gVacaoIIO.S'llo1 P'8dominant Ij] VecantIO.5%1 Pfooominant
Vacento......-5%) 130 V.canl [ov.... 5%1 130 65
TypQoI2-4fami!ybklg. TyPl!l Detached No. units 2 A~ 60 yrs. Pr-.t_....,. """--..
TYP;cal renls S ~to S 675 o Stab;--O Declining One family 55 DNOllikely ~LikelY
Est.naighborNlodapt.vacancy .02 'llIOlnc,ea.ing [XJStabia o Ded;n;ng 2-4fBmily 12 o In p'oee.. 10.
OVes ~No DLikeiylfyesorlikaly.de5CJibe Multi.f.mily 03 Residential
Comm",cial 05
I Vac.1 25
NoIe:RM:e_u.r.alcomposIiIion~u.~_not"",,"....'aclOfL
NeighborNlod boundari.. and ch.....CI.riatics: Sub' ect ro ert is located alon H estown Road in Silver S rin
Townshi CUIllberland Count P lvania.
F.<:tors Ihal affect the m.r1<.tebUliy of the pro;>erti.s in th. n.ighborhood Iproximity to employment.nd .menities. .mployment stability. .ppeallO me"".I. etc.l:
has eas access to ma'or Hi bwa s Schools Churches 1 nt sh in adn recreational
The following availeble li",ing. r_...nt the moot cummt. similar. and proximate competitive pr(l(l8rti.S to lfle SUbject prOf>8JIy ;n the subj.<:t r>eighborhood. This analysi. is intended to
evaluate the ;n".ntO<y curr.ntly on the market competing with the subject property in the subject roaighborhood .nd recent prk:e and me'kating tima tr.nds aflecting the subjecI p,operlY.
(ustin!rloutsidettlesubjact""ighborhoodar"nOlC<lnsideredapplicalllal. Th. listing comparJlbies can be ranlal or sale comp.rables if they a'e currenlfy lor .ale.
SUBJECT COMPARABLE LISTING NO.1 COMPARABLE LISTING NO. 2 COMPARABLE LISTING NO. 3
Hogestown Rd. 6603 Carlisle pike 440 MArket Street 18 South 18th Street
Mechanicsbu PA Mechanicsbu PA C Hill PA
1.2 Miles+ 5.5 Miles+ 4 Mi1es+ -
rice ,N A X Urn. Furn S 95 000 X Unf Furn. . 118 000 X Unf. Furn. S 139 700
, oximat.GBA 3 360 3 740 2 610 1 655
Ins ection C.P.M.L. C.P.M.L. C.P.M.L.
'UnitSITot.''''''.IBRIBA 3 12 6 3 2 12 6 3 3 12 5 3 3 12 4 3
, OxrmBle arl:luilt 1965 1880+ - 1920+ - 1930+ -
A rox.da sonmarket A 116 130 153
Comparison of lislings '0 sub;ecc p<operty. LisU 1 is in need of rovements has a shared furnace 3 car ara e.
List' 2 is ill 3 sto buildin in a cd location. Listin 3 has or curb a eol but is in
d location. These are the most similar units available at this time.
Market conditi<lns thet affecl 2-4 family properties in the .ubject neighbOlhood (inCluding lhe above na;ghborhood indioators of ~rowth rate. prooerty values. demandlsuppiy. and ,".,ket;"!) time)
and the pr.v.lence and imp.ct in Ihe subject m.rket are. regarding loan di.counts. inlerest buydown. aod concessions. .nd identifioatlon of tf.nd. in li'ling pric.s. avar.g. days on the m.rkel
and any ch.nge over past y.ar. ,"c.: There is ill staa 001 of bu rs for r erl riced ro erties.
The mulit-unit market has been etaa and stable with no forseable chan ..
Dimensions See Attached Deed Topography Level
2.5 Acres (ESTIMATED) Corn.rlot I2YNo Oy.. Si.. 1.25 Acres ESTIMATED
5pacificzoningcl..sifica1ionanddeSCfiption Residential ,~~ Irr 1ar
ZOning <:omplianc. iii Legal o LeotollNonconforming(Grandfatha<eduS8' Illegal o No zoning O".nage A ears Satisfacto
Highest & best use as improvad; !]gpr.sentu.. OOt"",U..("xPla;n) View Residential
Land.Cll;ling Ad ate
0,"", Off..... .......- "~ Public PrivalS Driveway Macadam
3-200 St,eet Macadam 11<1 0 Apparente.s.menlO Ui1ities & Drains e
C,,'blgult.. None 0 0
Sidewalk None 0 0 FEMASj)<IciaIFloodH..ardAJea DYas ~No
Slreellights No 0 0 FEMAlone C MapOate 3-3-92
" None FEMAM. No. 420370
Comments (.pp.ranl ad"er.. ....ments. .nCt08oChments. special .'......menlO. silde are.s, megal or leg.1 noncotllorming zoning, usa. "'c.l; None a arent.
Sub'ect however to reservations eaBll18llts conditions and ri ht of wa of record.
f,eddieM.c Form 72 1101941 MCS.aOi~lsionofACi Oe""iopmenr(BOOI697.nB3 P.ga10f4 Fannie M... FQfm 10251101941
MARK ". HILBERT & ASSOCIATES
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
-- ~d8scnpl:ion IMele,ials/conditionsl FllUfId8I:ion lnoul..uo.. tR--v_ifknownl
Un,lS/bldgs_ 3 /1 Four>dalion Block Slsb No o Roo'
51"'"", Two E><18Iiorwalls Brick Alum. Cr.wISp""" No [ijCE>iling
TVPllldet./att.1 Attached Roo/surlace C osition Sump Pump S ~Wall'
De,ignlstvlel Townhome GUlle'sJdwnspl;s Al1.mli.num Dampne.. Yee ~Floo,
E><istinolll<oposed Existin WirnJowtype Double Hun Sellln",,,n, None Noted o None
Und...-C<>I1.truclion No Storm sash/Sc'"OS Yes Yes Infeslatioo None Noted Adequacy
y,,,..Su;lt 1965 Manufacturedhou.ing . DYe. Ii<! N. Basement 100 ~ of 1st lloor Srn Energy "fl;ci"nl;t"m.
Effectiv".....elv...) 8-10 '(Compli<l. wilh t~ HUO Monulactured HOIJ.ing Basement finish Unfinished None Noted
CoostructionandS"'etyStend.,ds.1
Units lIIvel(" , . Livin Dim Kilchen 0'0 F.....il,m. Bed,m. II Beth. Launil Olher , It./unit Talal!
3 1-2 1 Area 1 2 1 1 St 1 120 3 360
Imro_ntscontain: 12 Rooms' 6 8edroomls)' 38ath(s)' 3 360 S uaraf....t"fGROSSBUILDINGAAEA
GROSS BUILDING AREA IGBAIIS DEANED AS THE TOTAL RNISHED AREA {INCLUDING COMMON AREAS) OF THE IMPROVEMENTS
BASED UPON EXTERIOR MEASUREMENTS.
""'- IMate<lalslcondl1ionl -. 1Gtd.:'oequip.I'hrit-<:ond_1 ... CarSlorage No.Ca,s 12
floors Hardwood '''' Hot Water Aefrlg<<ator None DNone Garal1" 0
Willis D all ,~ oil Rangel"....." 3 DSlalrs Carport 0
Trlmlflnish Wood Condltl"" Avera e Disposal None o DmpSlair Allached 0
Iietl,f1oor Vin 1 Dishwasher None ~SCtJttI" Detached 0
8th wainscot Tile "'"'"" fan/hood 3 DFloor Adequata 0
000" Hollow Core Central None Compacw< None DHeate<l Inadequate 0
o,~ None Wastllff/d.y None o Finished OffsHeet li<I
COndition Microwave None DUnlinlShEld ,~ 0
Fire lace(s) None . Intercom None
Conditions of the improvements, rep.!rsooeded,Qualltyolconstruction.oddilionalfe"ures,modernlnti"".etc.: Sub 'act r ert is in avera
condition.
DfIPfeCillllon Iphyslcal. functional, and e.t...nBi in(ld.eQuaciaa, alc.l: There is no evidevce of functional or externial obsolescence.
Advarse enviroomental conditions lsuch as. but nallimlled 10. haurdous wastas, 10.1e substances. etc.) presant in lhe improvemenls. on lhe sile. or in lhe immediam vicinity of the subject
proPllflY: There are no visible or a arent adverse environmential conditions that would
ativel act the value of the sub Bet.
VALUATION ANALYSIS
ESTIMATED SITE VALUE ., 90 000 Cpmment!l on Cost ApPfoach lsuchas, SOUrce of cosl e.1imsle. site value,.qu a,S 1001
ESTIMATED REl'RODUCTION COST_NEW OF IMPROVEMENTS, cslculsli""and,torf'lUDandVA,thesSlimaledremainingeCO!1'Omiclife01 the Pro"""yl
$q.FI.@ $ 52.00 -. 174,720 In re roduction cost of rovement Marshal &
Sq.Ft. @ , ., Swift Handbook and local contractors are
Sq.Ft. @ . ., referenced.
Sq.Fl. @ , .,
$q.Ft.@ . ..
..
-.
.,
., 10.000
-.
Speciall:.......gV Efficlenl Items .,
.,
TOlalEstlmll1edCostNew .. 184,720
Phvsical Functional EJ<ternal
26,000 I I .. 26.000
Dapre<;latedValuaoflmp.-ovamenIS. .. 158 720
"As is" Value of Sitalmprovemenls .. 2 500
INDICATED VALUE BY COST A?P!'10ACH. .. 251 220
Fraddia Mac Fotm 72 110/94) MCS, a o;"is;on of ACI Devempment IBOOI 691-77B3 Pegu20f4 Fann;uMaaFotm lD25i10/94)
MARK" HILBERT & ASSOCIATES
SMALL RESIDENTIAL .COME PROPERTY APPRAtSAL REPORT
At lea" thl"" rental comparable. should be reported and 1IIl81yzed in lhis .ect;on, The rental compgrsblllS should reprasenllha moSt curram 'ent~ information on properties as slmila, and
proximate to the subject prOP''''Y as possible, IThis comp",ison i. based on currant rantal dale. therefore, the '8n1al compar;oblas 'YPfr::.lly are n01 'he same comparables US<ld in the sales
comparison anllly5is.) The ""praisel report should .ssuretha reeder that the unllsoncI propenie.selectedascompa,ablesa,ecomparablelOthasubiecl properlY lborhthe units and the
"""'sllll'oper'yland.ccuratelyr"ll'''....nttheremalmarketlmlhllsubjectproperty[unlllssothe,wiSllstatedwithintherllponl
ITEM COMPARABLE RENTAL NO.1 COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
Rd 325 West Main Street 29 West Locust Street 6603 Carlisle PikeSt.
Mechanicshur PA Mechanicsbur PA Mechanicsbur PA
Pro.imitytosubiect 1. 5 Miles+/- 1.5 Miles+/- 1. 2 Miles+/-
LeaMdates (if availablal NA NA NA
Rant.u, da'. 9 10 03 8 13 03 10 03
Datasoo,ce ;rnspection Inspection C.P.M.L. C.P.M.L.
~ntco"",,","ioos None noted None Noted None Noted None Noted
II Unit. 3 IIVlc. 0 /I Units 2 /I Vac.O Yr.Blt,l842 /I Unilll 2 /I vac.l Yr,BIt:1920 /I Units 2 IIVac.l Y,-BII:1880
Oescriptionof Yf.Bh,: 1965
P'Operty-unitS, Townhouse 2 St Du lex 2 S Detached 2 St Du lex
desig","ppaal.
aga."!lCancla., Avera A .d Good. .d Avera e .., Avera e A ..1
and condition. Avera e Conditio Good Condition Avera Condition Fair Condition
Rm.Count 5iu Rm.Count 5i.a Total Rm.Count 5i.. Tota/ Rm,Count 5i.a TOll1
Tot Br '0<" SQ.Ft. TOt Br B8tll Sq.Ft. Monthly Rant Tot Br '0<" Sq.Ft. MootlllyRent Tot Br Bath 5q.FI. Monthly Rent
IndivH:tual 4 1 120 4 1154 600 5 1 044 o 7 2 180 0
unit
bl"98kdown 4 1 120 4 1118 600 4 1 044 450 5 1 560 550
4 1 120
Water Water Heat Heat
Sewer Sewer Sewer Water Sewer
Utilitia., Trash Trash Trash Trash
fUfnirureand Ran e OVen Ran e OVen
omenilias Ran e OVen Ran e OVen
included in r""t Heat b Tenant Heat Tenant Refri rator Water Tenant
Else. Tenant Blee. Tenant Blee. Tenant Else. b Tenant
Full Basement Un Part Unfinished Full Unfinished Part Unfinished
Functionedu!ility, Avera e Uti1it Avera e Uti1it Avera e Utilit Avera e Utilit
basement. No Air Cond. No Air Cond. Window AC's No Air Condo
heating/cooling, Hot Water Av Elee Gas A Gas H.Air A Hot Air Av
~ojectllmllnitilS.atc.
None Non. Non. None
Off St. Parkin Off Street 2 Car Gar Off Street 2 Car Gar Off Street 3 Car Gar
rental data and ....pport IOf ....imat"d market 'ant. fo' the indi"idual ....bjact units lincludlng tha adiu.tmants used, th8 ad8QIJacy of comparables. 'antli concession., ate,)
Rentals in this area are d.
s rent sc ue ThBrentschedul. ,aconcile.tha Ipplicableindicat"d monthiymarket ,anlStothaaPPfop,;stasubiectunlt. andpro"idasthe..stimatedrants!orloosubiact
PfOll8fty. The I(Ip'als..- mus' fa"iaw tha 'ent cllSfllCt..,is\lcs of tn. comparable sales to datermina whetha' a$iimated '..nlS should ,alleet actuII or market ,ants. Fo, ...mpie. if Ictual,..nts
ware a"allable on tt>& ...Ias comparablas and used to d..-i"" ,he gross rent multl!>ier IGRMI. ""tual ,ants lor ,ha subjact .hould be used, II mlrk," 'enlS we,a usotd to construcl the comparabies'
I"9nlS ar'd deli"" tha GRM. maIka' rants should be used. Tha tOlal glOSS estimated 'ant must 'eprasom ,..nl charllClar;s!;cs consistent with tha S81es compa,at)je data used to deri"" the GRM.
The total gross es,imated rent is not adjusted for "acancy.
LEASES ACTUAL RENTS ESTIMATED RENTS
l&aseOate No. Units f'erUnit Tot..1 PerUni. Total
Begin ,~ V~" Unfumished Furnished R..nt. Unfurnished Fumished Rants
1 N A NA o . 400 $ , 400 $ 575 $ , 575
2 N A NA 0 375 375 575 575
3 N A NA 0 385 385 575 575
, 1 160 , 1 725
Other monthly Income (j",m;zal None noted ,
VacancV:Ac!I,lallastyaa, 02 . P,avi<Jusyear 00. Estimated' 02 . , 414 Anrually T<Jt8Igroa__rent. 1 725
Utiliti..lncludedinestlma.edrents: DElec'ric ~Water ~s..wer Da.. o Oil ~Tr.shCollaction 0
Comm..nts on rent ,chedule. ac!l,la/ rents. ..s,im.ted ,ents la.pacially r"lllfding diHa,enc... b..,w",,", actual and ...!lmaled rant.1. utiliti.s, ..tc.: The rents in the sub' eet
F'eddie Mac Form 72 [101941 MC5, . Di"i.lon of ACI Developmant 18001 697.7783 f'age30f4 Fsnni.. M... Form 10251101941
MARK" HILBERT & ASSOCIATES
SMAll RESIDENTIA. ACOME PROPERTY APPRAISAL REPORT
The undersigned has redl~ three recent SlIles of prOIlef\jes mOil li",n., and proximate .te the subieel property sod has de.c,Ii)ed.nd .naly,ed theso in thi.. analysis. If there is . signifiCilIlt
v'""811on. b&tw....... lh~ subject and comparable p,?pert'8S..lhe ."elysts ,nclveles a dolle, M)USlmentr,,!lecllng the ",arkel r"aClloo to those 'ternS Or en ""pl""a.(lon supponoo by the ",.,kel dall.
If. Slgn,fi""nt Item In .the c"",per&ble propetty " supe'"'' to. or m?,~ I.votable than, 1M subject propa<ty, a "'....... I-I adjUSt"'''''! " ~ede. thus reduc'ng the. odjusted .ales price 01 the
comparable P'ClPGrty; ,f a signiftclm item," the compar.bl.. prOpll"1V 's ".ferio. 10. '" less lavorable than. the subie<:t oroperty, a plus (+1 adJUSlmem " ",.de, thus ,ncrea'''''g the adjusted ..Ie.
p,!ee or thol comparable ploperty. 1I11SalB1Pria1 . GrossMornhlyRemlI
SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
Hogestown Rd. 415 W. Keller Street 101-103-105 Locust Str 29 East Main Street
Mechanicsbur PA Mechanicsbur PA Shiremanstown PA
1.5 Miles+ L 5 Miles+ 2.5 Miles+ -
, x uor. Furn. t 144 330 x Unf. Furn. S 208 000 X Unl. Furn $ 149 900
. S 47.57 t 62.20 S 52.67
G,ossmonthl fanl . S 1 052 S 1 6700 ,1 060
.137.20 12.46 141. 42
runit , $ 72 165 s 69 333 ,74 950
,oom , , 14 344 '14 857 S 14 990
C.P.M.L. Court House C.P.M.L. Court House C.P.M.L. Court House
ADJUSTMENTS DESCRIPTION ,"' DESCRIPTION +l SAd. DESCRIPTION +1.1'
DOM 148 DOH 88 DON 98
Conventional Conuentional Conventional
7 18 03 7 31 03 4 30 03
Avera e Avera e Avera e Avera e
Fee S 1e l"ee S 1e Fee S 1e Fee S 1e
1.25 Acre A 0.28Acre A: +4900 0.31 Acre Av +4700 0.3 Acres A +4700
Residential Residential Residential Residential
, Townhouse A: 2-Sto A 2-Sto A 2-Sto A
Brick Alum. Frame Vin I Brick
1965+ - 1920+ 1985+ -15000 1881 +
Above Avera e Above Avera e Above Avera e Above Avera e
Ara~ 3 360 S.l1. 3 034 S.fl +3 300 3 344 S.lI. 2 846 S.l1 +5 100
'". Rm.oouO! '0 '0 Rm.CDUnt '0. '" Rm.counl '0 '0 Rm.CDUnl '0
unil TOler BathVac. unil TotBr B.th v~. uoilsTolBr B.th v~ unilS Tot Br B.lh v~.
1 1 1 5 1 0 1 . 1 0 1 5 1 0
1 1 1 3 1 0 1 5 1 0 1 5 1 0
1 1 +30 000 1 5 1 0 +30 000
Full Unfin. E'ull Unfinishe E'ull Unfin Full Unfinishe
Avera e Avera e Avera e Avera e
Hot Water Non Hot Water None H. CA -5000 Radiator None
Off Street Off Street Off Street Off Street
P'oie<:lamenitills&fH None Noted None Noted None Noted None Noted
1If.P!>Ilceblel None Noted None Noted None Noted None Noted
. 39 800
, 189 700
Comments on sales comp.rison IInck.Jdlng 'econcill.tlon 01 aU indicalors 01 value as 10 conslst<mcy and ,elalive strength ~nd e~aluation ollhe Iypical inYfito"slpurchaSl!"s motivation in th.1 m~,~.t)
C arables chosen were the best closed sales available with in a reasonable distance
of the sub ect.
ITEM SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
None None None None
N/A N/A N/A N/A
,.isal NA C.P.M.L. Court House C.P.M.L. Court House C.P.M.L. Court House
.6.nalysis of....y Currenl agreements 01...... OlItion. or listing of the subjeCl pr 0~y.r"danelysisoI8l1yPfI"'s.le.of.ub/e<:1andcompa'.b....withinoney.a'0Idataol.pp,.is.l.
The sales c arison a roach carries the most wei ht in determin market value as it is
based on historicaL infer.mation and is not as sub'ective as in the income a roach.
Total gross monthly .Ollmoted rant $ 1.725 x g'oss 'ent multiplier IGRMI 13. - $ 231,150 INDICATED VALUE BY INCOME APPROACH
Comments on income aoproach lincllJding !Kp"nse r.lios. il .v.ilable. and reconciliation ollhe GRMI Sales a roach reinforced the income
. roach is a indicator of Fair Market Value.
INDICATED VALUE BY SALES COMPARISON APPROACH ............................ . . . . . . . . . . . . . .. $ 192 500
INDICATED VALUE BY INCOME APPROAa-t.............................. ..... ..... ........... , 231 150
INDICATED VALUE BY COST APPROACH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 251 220
Tl>i.8ppraiseli.made [iJ'asi" DSUbjectlolherep.I'".~ter.lion..in.pection..orCOndilionsllstedbeIOw 0 ,ubi""t 10 com~elion per plan. and spedlications,
Comm.nt. aod conditions of appraisal' The sales c arison a roach carries the IN:)st we! ht in d.etermin market
value as it is based on historical information and is not as sub ective as in the incone
. roach nor as de endent on econanic conditions as the cost a roach,
FOR 407-409-411-415-417-419 HOGESTONN ROAR IS 385 000
The purpose 01 ,hi. apprai.al is 10 estimala Ihe m....~el value ot tl'le real p,operty IMI is ,he subj.ct of lhis repott. b,ued on Ihe .bove coodi,lons and the certlfic.'ion. conlingenl .nd limiting
conditions. .nd m.r~et v.lue definition '1\01 are statfld 10 lhe ettached Ffeddie Mac Form 439/Fannie Mae FOfm 1004B (R.vi""d 6 _ 94
I ewe EStlMATETHE MARKET VAlUE. AS DEFINED, OF THE REAL PROPBITY THAT IS THE SUBJECT Of THIS REPORT, AS OF Au st 31 2003
!WHICH 15 THE DATE OF INSPECTION AND THE 8'FECTlYE DATf'OFTHISREI"OfITI TO BE $ 192,500
APPRAISER: SUPfRVlSORVAPPRAlSERIONlVlFREOUIREDI;
SklnalUre 00. DDidNat
Name In'p"cIProp."y
2003 Ool.Re ISined
slOI.PA SlateCer\illcatiQn' St.,.
StatePA O,SlateUcen..' Stal"
F,eddi. Mac Form 72 110-941 MCS. a Division 01 ACI Development 1800l 697.77113 Page4014 F.nnie Mae Form I025!10-941
MAP' "'. HilBERT & ASSOCIATES Fil.. "Jo. 03-683M2
OPERATiNG INCOME STATEMENT
One-to Four-Family Investment Property and Two-to Four-Family Owner-Occupied Property
Property Address
415-417-419 Hogestown Road Mechanicsburg PA 17055
Street Cltv State Zin Code
GenerallnstnJctions: This form is to be prepared jointly by the loan applicant, the appraiser, and lender's underwriter. The applicant must
complete the following schedule indicating each unit's rental status, lease expiration date, current rent, market rent, and the responsibility for
utility expenses. Rental figures must be based on the rent fOf an unfurnished unit.
Currently Expiration Current Rent Market Rent Paid Paid
Rented Data Per Month Per Month Utility Expense By Owner By Tenant
Unit No.1 Yes iii NoD $400 $575 Electricity_ D 1RI
Unit NO.2 Yes IiJ.NoO $375 $575 G" D D
Unit No.3 Yes Iil NoD $385 $575 Fuel Oil. D 1RI
Unit No.4 Yes D NoD , , Fuel lOther}. D D
Water/Sewer 1RI D
Total. _...... _....... _. _ _............. $1.160 $1.725 Trash Removal. 1RI D
The applicant should complete all of the income and expense projections and for existing properties provide actual year-end operating statements
for the past two years (for new properties the applicant's projected income and expenses must be provided I. This Operating Income
Statement and any previous operating statements the applicant provides must then be sent to the appraiser for review, comment, and/or
adjustments next to the applicant's figures (e.g., Applicant/Appraiser 28B/300). If the appraiser is retained to complete the form instead of the
applicant, the lender must provide to the appraiser the aforementioned operating statements, mortgage insurance premium, HOA dues,
leasehold payments, subordinate financing, and/or any other relevant information as to the income and expenses of the subject property
received from the applicant to substantiate the projections. The underwriter should carefully review the applicant's/appraiser's projections and
the appraiser's comments concerning those projections. The underwriter should make any final adjustments that are necessary to more
accurately reflect any income or expense items that appear unreasonable for the market. (Real estate taxes and insurance on these types of
properties are included in PITI and not calculated as an annual expense iteml. Income should be based on current rents. but should nOI
exceed market rents. When there are no current rents because the property is proposed, new, or currel"ltly vacant, market rents should be used.
Annual Income and Expense Projection for Next 12 Months
Adjustments by
Income (Do not include income for owner-occupied units) By Applicant/Appraiser Lender's Underwriter
Gross Annual Rental !from unit(s) to be rented). . . . . . ....... $20.700 ,
Other Income (include sources) . . . . . ..... + +
Total......... .. ..... ............................ $20.700 ,
Less Vacancy/Rent Loss....... ..... ...... .414 102 %1 I %1
Effective Gross Income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.286 ,
Expenses 100 not include expenses for owner-occupied units)
Electricity.............. ... ....
Gas........... . ....... .....................
Fuel Oil ....................................
Fuel. ................. . (Type- 1
Water/Sewer.
Trash Removal..... ..... ................. ... ........
Pest Control ... .................. .....
Other Taxes or Licenses .................................
Casual Labor ....................... ........... 633
This includes the costs for public area cleaning, snow removal, etc.,
even though the applicant may not elect to contract for such
services.
Interior Paint/Decorating. ........... ,..
This includes the costs of contract labor and materials that ara
required to maintain the interiors of the living units.
General Repairs/Maintenance 1,792
This includes the costs of contract labor and materials that are
required to maintain the public corridors, stairways, roofs,
mechanical systems, grounds, etc.
Management Expenses ....................
These are the customary expenses that a professional management
company would charge to manage the property.
Supplies. .........................
This includes the costs of items like light bulbs, janitorial
supplies, etc.
Total Replacement Reserves. 58s Sch&dul& on Pg. 2 ................ 702
Miscellaneous .........................
......... ........................
......................................... ....
............................................
.........................................
...................
.........................................
.................................................
.............................. ......
Total Operating Expenses. . . . . . . . . . . . . . . . . . . . . . $3.271 $
Fr<ldd,eMsc Form 99SAug 9S MCS.Alct,",dson. TX75091 1214)699.77S3 P.gslof2 MCSFormOl2
Fennie Mas Form 216Aug as
MAR' - HilBERT & ASSOCIATES
REPLACEMENT RESERVE SCHEDULE
Adequate replacement reserves must be calculated regardless of whether actual reserves are provided for on the owner's operating statements
or are customary in the local market. This represents the total average yearly reserves. Generally, all equipment and components that have a
remaining life of more than one year-such as refrigerators, stoves. clothes washers/dryers, trash compactors, furnaces. rools, and carpeting, ate.-
should be expensed on a replacement cost basis.
Equipment Repfacement Remaining By Applicant! Lender
eM' Ljle Appraiser Adjustments
Stoves/Ranges. @ $450 ea.-;-~Yrs.x3 Units = $75 ,
Refrigerators.... . @ , ea'7_ Yrs. x Units = $ ,
Dishwashers. . @ , ea'7_ Yrs. x Units", $ ,
Ale Units... ..... @ , ea.7_ Yrs. x Units = $ ,
C.Washer/Dryers. .@ $ ea.7_ Yrs.x Units.. $ ,
HWHeaters..... . @ $250 ea'7~Yrs.x3 Units = $41. 67 ,
Furnace{s). ...... @ $875 ea.-:-~Yrs.x3 Units = $105 ,
(Other)....... . @ , ea.~_ Yrs. x Units = $ ,
Roof. ... ..... ... @ $5.500 7~Yrs.xOneBldg......... = $220 ,
Carpeting (Wall to Wall) Remaining
life
[Units} 375 Total Sq. Yds. @ $ 12.50 Per Sq. Yd. ~!L- Yrs. = $260 ,
{public Aretls) Total Sq. Yds. @ $ _ Per Sq. Yd. -;.._ Yrs. = , ,
Total Replacement Reserves. (Enter on Pg. 11 $702 $
OPERATING INCOME RECONCILIATION
$ 20.286 -$ 2.254 = $ 18.032 -7 12 -= $ 1.502.66
Effective Gross Income Total Operating Expenses Operating Income Monthly Operating Income
, -$ = $
Monthly Operating Income Monthly Housing Expense Net Cash Flow
(Note: Monthly Housing Expense includes principal and interest on the mortgage. hazard insurance premiums. real estate taxes. mortgage
insurance premiums. HOA dues, leasehold payments, t1nd subordinate financing payments.)
Underwriter's instructions for 2.4 Family Owner-Occupied Properties
. If Monthly Opertlting Income is a positive number, enter as 'Net Rental Income' in the 'Gross Monthly Income' section of Freddie Mac
Form 65/Fannie Mae Form 1003. If Monthly Operating Income 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 subject property to the borrower's stable monthly income.
Underwriter's instructions lor 1-4 Family Investment Properties
. If Net Cash Flow is a positive number, enter as 'Net Rental Income' in the 'Gross Monthly Income' section of Freddie Mac Form 651
Fannie Mae Form 1003. If 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
borrower's primary residence to the borrower's stable monthly income.
Appraiser's Comments ([ncluding sources for data and rationale for the projectionsf
Mark B. Hilbert K0b~'# October 8.
2003
.A.""raiserName .!6n'raiserSi~ "'" Date
Underwriter's Comments and Rationale for Adjustments
Underwriter Name Underwriter Sinnature Date
F".d<!'eMecFo'm99aAug89 MCS. Richard."". TX 75081 12141669.7783 P.ga2of2 MCS Fo<m 012
Fannie MeeFo<m 216 Aug88
MARK '" HilBERT & ASSOCIATES
.. de No. 03-683M2
Borrower/Client Pinher Geraldine (ESTATE
Pronertv Address 407-409-411 H""'-'stown Road
Cit" Mechanicsbur'" CQuntv Cumberland State PA ZiD Code 17055
Lender Charles E. Shields III Esq.
ADDENDUM B
APPRAISAL CERTIFICATION
I certify that. to the best of my knowledge and belief:
- the statements of fact contained in this report are true and correct.
- the reported analyses. opinions, and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased professional analyses,
and conclusions.
- I have no (or the specified) present or prospective interest in the property that is the
subject of this report, and I have no (or the specified) personal interest or bias with
respect to the parties involved.
- my compensation is not contingent upon the reporting of a predetermined value or direction
in value that favors the cause of the client, the amount of the value estimate, the
attainment of a stipulated result, or the occurrence of a subsequent event.
- the appraisal assignment was not based on a requested minimum valuation. a specific
valuation. or the approval of a loan.
- my analyses. opinions. and conclusions were developed. and this report has been prepared in
conformity with the uniform Standards of Professional Appraisal Practice and also
requirements of the Code of Professional Ethics and the Standards of Professional Practice
of the Appraisal Institute.
- the use of this report is subject to the requirements of the Appraisal Institute to review
by its duly authorized representatives.
- I have (or have not) made a personal inspection of the property that is the subject of this
report.
- no one provided significant professional assistance to the person signing this report. (If
there are exceptions, the names of each individual providing significant assistance must be
as stated.)
- as of the date of this report. I. Mark E. Hilbert
have completed the requirements under the continuing education programs of the Appraisal
Institute.
A review of this agreement of sales has been deter.mined that personal property items. and/or
intangible items. that are not real property. HAVE NOT been included in the agreement of sale.
Personal property items. and/or intangible items HAVE NOT been considered in determining the
subjects estimated market value.
..................................................................................................
110 YES
1. _X_ - The subject sold during the last year.
Sale price $ . Date
2. _X_ The subject was listed for sale at the time of inspection.
- Listing price $
3. X The subject was under agreement at the time of inspection.
- Agreement price $
October 8. 2003
Date Appraiser Mark E. Hilbert
(X) did ( ) did not inspect property
Fe<mFH5 MC5,a Divis;oo of ACI Davalll!ltTl8nt(BOO) 697.7783
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: File No.: 03~683M1S
Property Add'ress: Case No.:
City: State: Zip:
lender:
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date:
Appraised Value: $
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
-~
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: File No.: 03-683M1S
Property Address~ Case No.:
City: State: Zip:
lender:
COMPARABLE SALE.1
Sale Date:
Sate Price: :$
.,.
\ COMPARABLE SALE tI2
Sare Date:
Sale Price; $
COMPARABLE SALE 13
Sale Date:
Sale Price: :$
~--,._-_.__.---_. , ._---------""~-~_.._.--------'-' File II
------
BO'-h.m~tIGI~lli
PfooerlyAddi-e~s ' Slale Zip Code
Ci\y Counly
lendel'
BUILDING SKETCH
\El\7
'\."., 'v" J
~t-, l'-~ - "" \J ~~
N ~ ~a ~ ~~
" <:\ ~ ~ -< ~- "" "il ~ -J
, ~ ~. ;;;:>-
, ~ "" ~ 'V
'" ,,< ~B
" "
G\J
V-- ~".:\;j
J
~ ~ ~~
~~ ~~ --~
~ ::::Ut- '\ 'Q;\ n)
"-
~ ::;- I\~ ~ ~'" S: I> \'>'t;:i
~ \~ \ <:l'" S;-
~ ,
" :...~ .....
';: T3
V- ::r-",:h...C0
I
~
- ,.A)w
-(--. ~S? A:: 00 "" l'1', ~\:::j
.JI)~ va I" '" \,< ~~
, '0~ J\j""- ~ '\ ~ d
, '" ......
~?- ","" -> [J , ~
~ ',- "" ;:,
\l'o r,
l~
"-' '"
~ "'\J
, ~
;t
'>\
~~
"" -.\
~I
'\ 1".
'" '
t: -D
~
IJ
'V
MARIC " HILBERT & ASSOCIATES
,Ie No. 03-683M2
APPRAISAL REQUIREMENTS
MANDATED BY FIRREA
I certify that the appraisal conforms to the Uniform Standards of Professional Appraisal Practice (USPAPj promulgated
by the Appraisal Standards Board of the Appraisal Foundation.
The subject DOs) Ii] (is not) listed for sale, the listing price is $ My estimate of the reasonable marketing
period of the subject property is
If an approach to value was not used, the following is an explanation why it was not considered.
Cost:
Market:
Income:
The appraisal assignment Olwasl Ii] (was not) based on requested minimum or specific valuation or on the approval
of a loan.
I Dlhavel iii (have no) financial interest in the loan transaction and do not stand to benefit in any way from the
value placed on the property~
I [iJ (have) o (have not) included a separate assessment of personal property, fixtures, or intangible items which
are attached to or located on the real property. These items Dido} 00 (do n01l affect the market value of tl'1e
real property.
Any creative financial or sales concessions that are known to the appraiser have been adjusted in the comparables of tl'1is
appraisal.
In performing this appraisal, I was not able to review the:
Taxes (insert N/A if inapplicable)
The above items should be obtained by the lender when reviewing the appraisal report.
This appraisal was done with an "as is" market varue. This is the value of the property in its current physical condition
and subject to the zoning in effect as of the current date of value.
I certify that I have the appropriate knowledge and experience that was necessary to complete this assignment.
Mark~~4/- October 8, 2003
DATE
This appraisal report conforms to the unifor.m Standards of Professional Appraisal Practice
(USPAP) adopted by the Appraisal Foundation.
The builder/seller is paying % points ($ )
and/or $ in concessions on the subject property.
The following personal property, fixtures, and/or intangible items are not included in the
appraised value but are a part of the sale of the subject property.
ITEM ESTIMATED VALUE
_N/A
It should be noted that the appraiser is trained in the valuation of Real Property, not
Personal Property, therefore. the above estimated values may have dicrepancies frOIQ real
value.
FotmFIL MCS. a Oivislon 01 A,CI Davelopma",(800l 697-7783
MARfl " HilBERT & ASSOCIATES
). 03-683M2
.---u.-.'
DEfiNITION Of MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair safe, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected bV undue stimulus. Implicit in this definition is the consummation of a sale as af a specllied date and the passing 01 title horn
seUer to buyer under conditions whereby: (11 buyer and seller arB typically motivated; (2) both parties are waf! informed or well advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market: (4) pay-
ment is made in terms of cash in U. S, dollars or in terms of financial arrangements comparable thereto; and (5) the price represents
the normal consideration for the property sold unaffected by special or creative financing or sales concessions. granted by anyone <lS-
sodated with the sale.
. Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary
for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable
since the seller pays these costs in virtuCllly all sales transactions. Special or creative financing adjustments can be made to the
comparable property by comparisons to financing terms offered by a third party institutional lender th.;lt is not already involved in the
property or transaction. Any adjustment should not be calculated on a mechanical dollar for doUar cost of the financing or concession,
but the dollar amount of any adjustment should approximate the mark.et's reaction to the linancing or concessions based on the app-
raiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: TM appraisel's certification thilt appeals in the applaisal report 'IS subject to
the following conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is app-
raised on the basis 01 it being under responsible ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dime"sions of the impro\Oemel'lts, and the sketch is
included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Managemellt Agency (or other d<lta
sources) and has noted in the appraisal report whether the subject site is located in an identified Special Aood Hazard Area. Because
the appfaise! is not a sur\OeyO!, he 01 she makEl$ no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless
specifiC arrangements to do so have been made beforehand.
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 con.
tributary value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence at ha1.ar"
dous wastes, toxic substances, etc.J observed during the inspection of the subject property or that he or she became aware of during
the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no know-
ledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous
wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions
and makes no guarantees or warrantie9, express or implied, regarding the condition of the pmperty. The appraise'! will not be respon-
sible for any such conditions that do exist Of for any engineering or testing that might be required to discover whether such conditions
exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an
environmental assessment of the property.
7. TM appraise! obtained tM il'lfolmation, estimates, and opinions that were expressed in the appraisal report tram sources that he or
she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of
such items that were furnished 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 h&f appraisal repolt and \Oaluation conclusion lor an appraisal that is subject to satisfactory comp-
letion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute
the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and
relerences to any professional appraisal organizations or the firm with which the appraiser is associatedl to iJnyone other than tne
borrower; the mortgagee or its successors and assigns; the mottg<lge insurer; consultants; professional appr<lisal organizations; any
state o( federally apPfoved financial institution; or any department, agency, 01 instrumentality of the United States or any state or the
District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or
reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent aM apPfoval must
also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or
other media.
Freddi$MacForm4396-93 MCS, a Divi,.;on olACI OavelOPmefl1 IBOO) 697.77B3 MCSFormLC5 Paga1of2 Fannie Mee FOfm 100486-93
MARfI' - HILBERT & ASSOCIATES
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and
proximate to the subject property for consideration in tne sales comparison analysis and have made a dollar adjustment when
appropriate to reflect the market reaction to thosa items of significant variation. If a significant item in a comparable property is super-
Ior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comp-
arable, and if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a pos-
itive 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 of market value in the
appraisal report. I have not knowingly withheld 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 Own personal, unbiased, and professional analysis, opinions, and conclusions, which are sub-
ject only to the contingent and limiting conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective per-
sonal 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 of the properties 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 luture employment nOf 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 party,
the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive 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 pro-
mulgated by the 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 of those Standards, which does not apply. I acknowledge that an estimate of a reason-
able time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent
with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section.
B. I have personally inspected the interior and exterior areas of the subject property and the exterior of aU properties listed as compar-
abies in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements,
on the subject site,or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments
for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also
commented about the effect of the adverse conditions 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 sig.
nificant professional assistance from any individual or individuals in the performance of the appraisal Of the preparation of the appraisal
report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any
item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraiser 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: 415-417-419 HOQestown Road. Mechanicsburq.PA 17055
APPRAISER: SUPERVISORY APPRAISER (only if required):
Signature: Signature:
Name: Mark E. Hilbert Name:
Date Signed: October B. 2003 Date Signed:
State Certification No.: RL-000388 L State Certification No.:
or State License No.: RB-029755-A or State License No.:
State: Pennsv1 vania. State:
Expiration Date of Certification or License: 6/30/03 Expiration Date of Certification or License:
o Did o Did Not Inspect the Property
F,!!ddieMecFt)fm4396_93 MCS, . Oivisionof AClDevel""ment!BOOl697.77B3 MCSfo'rnLC5 "'.ge20f2 F.nnieMaeFo,rnl004B 6.93
QUALIFICATIONS OF APPRAISER
Mark E. Hilbert, CRMA, ICA, GRI
Broker Appraiser
Education:
Real Estate Pennsylvania Title Insurance, Harrisburg
Real Estate Theory and Practice
Real Estate Law
Real Estate Math
Real Estate Appraisal I
Real Estate Advanced Appraisal
Standards of Professional Practice Part A
Standards of Professional Practice Part B
Market Extractions
Fannie Mae Review Seminar
Professional Memberships and Designations:
Senior Member - International Organization of Real Estate Appraisers
American Fraternity of Real Estate Appraisers
Graduate Real Estate Institute
Candidate Appraisal Institute
Harrisburg Board of Realtors
Pennsylvania Board of Realtors
Pennsylvania Association of Realtors
National Association of Realtors
Pennsylvania State Certification Number - RL-000388L
Experience:
C.M. Detweiler Real Estate Inc.
March 1971 to April 1976
Stuard Derrick Real Estate Inc.
April 1976 to October 1981
RE~ Realty Associates
October 1981 to February 1986
Mark E. Hilbert & Associates
February 1986
Real Estate License: March 1971
Associate Broker: April 1976
Appraising since 1979
Appraisal Experience:
Appraisals for: first mortgage, second mortgage, equity loans, employee
transfers/relocations, single family, condo.
Cumberland., York, Dauphin and Perry Counties.
Completed Assignments for:
Banks, Savings and Loans, Mortgage Brokers, Relocation Companies, Trust
Departments and Attorneys.
Client List available upon request.
V.,",,"on S,,"on UNIFORM RESIDENTIAL APPRAISAL REPORT Fn, No D3.R86M1S
ESTIM.HED SITE VALUE = Comments on Cost Approach (such as. source t estimate,
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: sile value, square fool calculation and for HUD, \ d FmHA. the
DWE:Hir.;! Sq. Ft @$~ = $ estimated remaining ecoflomic lile aflha properly):
Sq. H @ $~ = In the reproduction cost of improvements, Marshalf & Swift
. = Residential Cost Handbook and local contractors are
Gara.]elCapo1 Sq. Fl. @$ = referenced.
: TuialEstimaleaCoslNew 'I~ = $
. lass _, PhYSical"j Fun~li~al External Est Remaining Econ. Life:
O;;lfiliJallOll I" =$
DapreciatedValueoflmprovemenls. = $
"As-is" Value of SHe Improvements. = $
INDICATED VALUE BY COST APPROACH = $ Estimated remaininq economic life is 30-35 vears.
ITEM I SUBJECT COMPARABLE NO.1 COMPARABLE NO. 2 COMPARABLE NO.3
6 Pjfer Lane 1956 Lambs Gap Road 1259 Boiling Springs Road 234 Poplar Avenue
Address Mechanicsbura, PA Mechanicsburo. PA Boilinq Sorinqs PA New Cumberland, PA
Proxirnilv to Subiect 4 Miles+l- 9 Miles+/4 8 Miles+l-
S<lles Price $ $ 215000 . - $ 206,000 $ 219,900
Pric.;/QossLiv.hea $ 0.00 tll $ 98.90 tlli',,';i $ 108.42 tll $ 90.76 tlI
Dala and/or C.P.Mol. C.P.Mol. C.P.M.L.
Veriflcalion SoUtces Insnedion Anent Aaent Aaent
VAlLEADJUSTNENTS DESCRIPTION DESCRIPTION I .{-)1~""", DESCRIPTION I +(-)~AOIY_ DESCRIPTION I .(-I$AOju.lm.nl;
Sal"sOfFinancing 210 DaM 167DOM 79 DaM
Concessions V.A. Conventional Conventional
Dala 01 Salemme 8/31103 4/24/03 : 7/7103 : 8/15/03 :
Location Suburban Suburban Suburban Suburban
Leas.::h:tlfeeSiTde Fee Simole Fee Simale: Fee Simple: Fee Simple
Sile 2 Acres 3.3 Acres+l- : -2600 2 Acres+I-: 0.42 Acres+l- : +3,200
View Averaae Averaqe Averane Averane
Desinn and Anneal 2 Storv 1 Good 2 Storv/Good: 2 Storv 1 Good : 2 Story ISuperior : -5,000
QialivolO:nstruclin Stone! Brick Stone : Brick/Stone: Wood :
Atle 140 +1- 192 Years+l- 164 Years+/4 114 Years+l-
CunJilion Above Averaoe Above Averaae : Above Averaqe : Above Averaqe :
AboveG..-ade 1ol-?I' a...",,' a,UIs 101>1' B,*m.' B.lh. : TobI' a,*,..' B.lh. : TOlol' B'*m.' e.lh. :
_ RoomCounl 5: 3: 2.00 7: 3: 1.50' +1,000 a: 3: 1.50' +1,000 7: 3: 2_50' -1.000
GrossLi~iliClAiea 2190 SaH. 2,174 S Ft. : 1900 Sn.Ft.: +5 aDo 2.423 Sn.Ft: -4,600
Basement & Flllished Partial Partial Full None: +3.000
. Rooms Below Qade Unfinished Unfinished Unfinished None
Functional Utili Avera e Averane : Averaae : Averaoe :
Heatina/Coollnq H. Waterl None Oil H.Air/None : EBB/None: +3000 Gas H.Air/None :
. EllanJvEIficie!1tllems Averaae Averaae Averane Averalle
Ga;-aae/Caroort 2 Car Garaoe Off SI. Parkina: +4000 2 Car Garaae: Off SI. Parkino: 1-4,000
. Porch, Patio, Deck, Ene. Porch Covered Porch ..1,000 Cov Porch,Deck Porch. Patio
Fireulace(sl, elc. 2 Fireplaces Fireplace +2500 2 Firenlaces None +5000
Fence. Pool. elc 480 FL Hob ShOD None : +3000 Summer Kitchen : Storaoe Buildina: +2,000
, ,
, ,
Nel M_ lalal X + ' $ 8900 X + I - ' $ 9,800 X + ' $ 6 600
Adjusted Sales Price Grri~s: 6.~% i qrO!ls: 4.8% ~ Gross: 12.6%
of Como arable Net: 4;ll:1!o $ 223900 Net:' 4.Bok :! $ 215 BOO Net: 3.0% $ 226,500
Comments on Sales Comparison (including the SUbject properly's compalibility 10 the neighborhood, etc.): See Attached Addendum.
__ ITEM SUBJECT COMPARABLE NO, 1 COMPARABLE NO. 2 COMPARABLE NO.3
Dale. Price and Dala None None None None
SoLJrceJcrpiasa~s N/A N/A N/A N/A
",iUl~lveaofaoorajsal Owners Deed C.P.M.L ICourt House C.P.M.L ICourt House C.P.M.L ICourt House
Analysis of any currenl agreemanl or sale. option, or listing of the subject property and analysis 01 any ~ sales of subject and oomparables within one year of the data of awaisal:
The sales comparison approach carries the most weiqht in determinq market value as it is based on historical infirmation and is not as
subiective as in the income approach
INDICATED VALUE BY SALES COMPARISON APPROACH ............ .... ...... . ..... .. .. $ 224,000
INDICATED VALUE BY INCOME APPROACH IIf AooIicable) EslimatedMarkel Rei'll $ N/A /fl.b.xQ-ossRenlMuIlVJier N/A =$ 0
This appraisal is made ~ "as is" U subject to therepais. a1teralions,nspeclooscrcondiloosistedbebw . .~.SlJbjectIoOOmplelionperpiansandspecifications
ConJiliOnsof AppfCnsal: The aooraiser assumes a maretable title and that eouioment associated with the imorovement is in workino order
Fillal Reconciliation: I have certified thlat he/she concidered relevent comnetetive lislinlls andl or Contract oflerinqs in the oreformace of this
aopraisal and in the trendino information reoorted in this section. If a trend is indicated i have attached an addendum nfOvinll
. compe!ive lislinq / contracts offerinq data.
_ The purpose of lhis appraisal is 10 estimafe the markal value of the real properly that is the subjecl of this report. based on Ihe abovecondlti onsandthece;-tilicalion.lXmUngent
and liniUng conditions, and markel value definition that are slaled in 1hB attad1ed fredcje Mac Foon439,f(ll1!1ie Mae Fam 1004B (Revised 6/93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OFTHE REAL PROPERTY THAT IS THE SUBJECTOFTHlsREPORT,ASOF Nov. 6. 2003
. W'o'U1CH IS THE DATE OF I~~CT.!~N AND TH~. FECTIVE DATE OF THIS REPORT) TO BE $ 224,000 .
. APPRA'SERj/ / '../ /~._ ~/~. ' /7------. SUPERVISORY APPRAISER (ONLY IF REQUIRED):
SiQ(lalure //~( .., .... . Slllnalure OOld ODidNot
Name Mark t:r' JI eft: 1'/ ' Name Inspect Properly
Date Report Slqned Date Retlort Sinned
Slate Cerllflcation /I- RL-000388-L Slale PA Slale CertificaUon /I- Stale
Or Slale License /I- Rb-029755A Slale PA Of Slata License # Slale
Fre:ldi. M.;; F..-m ro 6_93 PAGE 2 OF 2 F,"nI. M.. F"1n 1004 6-93
p,_U,;n;P_Digil..S.......ooIWII., 1lOO.1lO 1111-...poI.oidlo<m..oom
Mark E. Hilbert and Assoc.
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: File No.: 03-886M 1 S
Property Address: Case No :
gj!L Stale: Zip: --.
lender:
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date: November 6, 2003
Appraised Value: $ 224,000
',J
.'"
'c.
REAR VIEW OF
SUBJECT PROPERTY
. If
'.
iI
I ~";:ii:",.1
STREET SCENE
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: file No.: 03-686M 1 S
Properly Address: Case No.:
City: State: Zip:
lender:
_. -~----- --~_._-_._~.._-
COMPARABLE SALE #1
1956 lambs Gap Road
Mechanicsburg, PA
Sale Date: 4/24103
Sale Price: $ 215,000
\
-
COMPARABLE SALE #2
1259 Boiling Springs Road
Boiling Springs, PA
Sale Date: 7f7103
Sale Price: $ 206,000
COMPARABLE SALE #3
234 Poplar Avenue
New Cumberland, PA
Sale Date: 8f15f03
Sale Price: $ 219,900
--.- . -,
- --
~ ~
;
,
Mark E. Hilbert & Associates
03-685M1S
FileNo 03.6B5M1S
J..U.J. U INVOICE--
File Number: 03-685M1 S Summay Appraisal Report
Charles Shields III Esq.
6 Clouser Road
Mechanicsburg, PA 17055
Barower : Geraldine M. PIpher Estate
Invoice # : 03-685 M1 S
Order Date :
ReferencelC ase # : 03-685M1S
PO Number :
5 Pipher Lane
Mechanicsburg, PA 17055
Appraisal $ 300_00
$
..............
Invoice T atal $ 300.00
Slate Sales Tax @ $ 0.00
Deposit ($ )
Deposit ($ )
..............
Amount Due $ 300.00
Terms: Balance due upon receiptof invoice add15% fee if paid 30 Days past receipt.
Please Make CI1ecI< Payable To:
Mark E. Hilbert & Associates
219 East Main Street
Mechanicsburg, PA 17055
Fed.1.D. #: 23-2391423
TO INSURE PRPOER CREDIT
PLEASE RETURN A COPY OF THIS INVOICE WITH YOUR PAYMENT.
Mt 1. Hilbert. & ASsociates
oJ..685M1S
F1oNo_ 03-685M1S
.
APPRAISAL OF
summery APpraisal
LOCATED AT:
5 Pipher Lane
M,ecMnicsbUrg. PA 17055
FOR:
chartes Stlields U1 Esq.
6 Clouser Raod
MeCh80ic$bUf'9
BORROWER:
Gef8ldine M. Pipher E.stste
AS OF:
i\Ugust 31, 2003 Oate of a~
BY:
Mark E. HiI......
MARK E. HILBERT & ASSOCIATES
UNIFORM r DENTIAL APPRAISAL REPORT 0~.685M1S
E"""p.tion , FileNo. l5M1S
Address 5 Pinher Lane Cilv Mechanlcsburn Stale PA . ..de 17055
aI Oll;ainti.v> Attached Plot Plan Countv Cumberland
Assess<<'sParcelNo. TaxYeB" RE. Taxes $ Snedal Assessments $
Borrower Geraldine M. Pinher Estste Cl.ITent Owner Same Occu"""t I Qw,,, Tenant IX Vacant
., PmoertvrillhtsaDb'ilised Ix FeeSlrnllle ! Leasef\old ProiedT"""'- - r PUD Condominium (HUDNA onlvl HaAS /Me.
N..lnhborhood or Proiect Name Silver Snrinn Townshin MlmR8ference Census Tract 118
Sate Price- $ Estate Datsa(Sa/8 DesaIDtkm and S amotJ1lt of Joan ch"""esJeoncessions to be..~.... seKEr
LenderlCflenl Charles Shields III Eso. Adaes:3 6 Clouser Raod Mechanicsbura
I An......iser Mark E. Hilbert Adlress 219 East Main Street Mechanicsburn
Locatioo I- ""'an X SubtJ'ban l- R.... Predominant Single family housing Present land IIse % Land use change
8uiJlup I- Over75'1i X 25-75% Under25'1i occupancy ~E ~~f Onefamily~ ~Notlikely OLtkeiy
Grnwthrale Rapid X Stable - XQwner ~Low~ Z4famiiy ~ X Inprucess
Property'lalues I- Inaeasing X ,..... Oedlning Tenanl 600 Hinh - 125 "'- -11! To: Residential
Oemandfsuppfy I- Shatage X . ..... ""'- X Vac:It(lM%) ~Predominant ~.{{#{ Comml!lrdal 2%
Marketi.....time lJndflr3rros. X Hmos. 0...,_ V--.t.....5" 1- 185 -r 35 V. Land \ 45%
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics: Subiect F'rooertv is located alonn Pinher Lane a Private Road in Silver Sorino Townshio
: Cumberland Caunh, Pennsvlvania.
. Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market. lite.):
~ PronP.rtv has oood access to emnlo ment and services. Churches Schools and Recreational areas are within a reasonable distance.
Market conditions in the subject neighborhood (in<:ludlng support for the above conclusions related to the trern:I of property values, demand/supply. and marketing time
..such aa data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing Concessions, ere.):
With the imnravinn markets the seller are not rMuired to offer sales or financinn concessions.Financina is readlv available from a
varielv' of SOrce5.
. Project InfOf'mation for PUOs (If applicable).. Is the developlJl'lbuilder in control of the Home Owners' Association (HOA)? U YES U NO
. Approximate Iotelnumberofunlts in the subject project . Approximate total' numberofunits fcxsale in the sublect project
Oesaibe <;:ommon elements and reaeational facilities:
Dimension$ See Attached Plot Plan. ToPCJ!j1l'llPhy Basicallv Level
Site as 1.14 Acres Can" Lot 0 y" IKJ No SiZe 1.14 Acres
Specific zoning clllssiflcatlon an~aiPtiun Residential Sh"". Rectanaular
Zelningcompli.-,ce lXIlegal l.egaI,.........,b",;,~(~IJSlt) U1Aegal-UNOwoing Qoainage Aoaears adeouate
I~-~st&bestuseas~: X Presentuse---Fi.OtheruS8l!lJlnlain\ Vi.. Averane
Utilities PubO, O~" OtI'-site Improvements Type Publio """" ~ Tvoical
Bectricily X 'he, Macadam l- X Ori>IewaySlMface Asohalt
Gos X C_ None I- Appa'ent easements None annarent
Waler X ,_ None I- 'EMA 'pod. Rood H_.,.. _ U_ y" _ ~ No
Sanjlaysewer X Streetlights None I- FEMA Zone ~ C ~ Map Date 03.03.92
S"""","" None ~,~ None FEMAMao No. 420370
Comments (apparent adverse easements, enaoachments, special assessments, slide areas, illegal or legal nonconrorming zoning, use, etc.): None Apparent
SUbiect however to reservations easements conditions and riaht of way of record.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. or Units On. Foundation Block Slob NONE AreaSq.Ft. N/A - ~
No. of Slories One ExteriaWals Stone I Vinvi 0iMlSps:e Crawl Snace ""Finished Ceillng~X
TyPlt(Oet./Atl) Detached RoofS","" Comoosition Basement None Ceiling Walls Cncld X
""",",<S,,,,) Ranch Gu~ & Ownspls. Aluminium 5IJ'I1)Pi.n'pNone Walls F1Oct~X
ExistingtProposed Existinn 'Mndow Type ObI. Huna D~es:3 None noted """ Non. _
Age (Yrs.) 27 Storm/Saeens ihermolYes Settlemenl None noted OUlsideEnIy --
Effective <l~e v." 6-8 Manufadu'ed House No Infestation None noted
. ROOMS ,- Livinn "'''''' Kitchen DM FamilvRm ""- Rm. """"""" 'Baths L'",,,,, Other AleaSn.Fl
"""""" None
Levell 1 Area 1 2 1 1 1,480
. Level2
.
Finished na above<1r.>lie contains: 4 "0'"'''' 2 '''''''' ms' 1 e..tivs' 1480 Saua-eFeetofGrossUvinnAlea
INTERIOR MateriEICoodffion HEATING KlTCHEN EQUIP. ATTlC AMENJTlES CAR STORAGE:
R<>n CarnetCaroet I Ava TYP" Base Boal Refrigerator No", F'replace(s)'_ X Non. 0
. Walls Drvwalll Good ''''' Electric RangeJQven X SIai1 P,Iio Garage #ofcars
TrifTYFinis/\ Wood! Ava Cadk:nAva. Oiaposal DropSlair D'" Atla<h'" 2
BathRoor Vh;vll Av COOLING "'.....,,, X Salttle X p- Detached
Balh Wainscot Fibe lass I Ava Central None 'an/Hood """ ,,,"" Bunr-11l
Doas Hollow Core O~" None - Heated Poo' c""""
~A Wa.sherIDNer F"Jrished Drivllwav 4
Additional f&attres (special energy efficient items, elc.): None Noted
;:~j.tion of the imDrOve'!1ents, depreciation (physical, functional, and e:Kternal), repairs needed, quality of construction remodeling/additions. elc.: No ma 'or
r airs noted. No &vIdence on functional or extemal obsolescence
.
Ad'lerse environmental condithms (such as, but not JJmilltd to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the
immediate vicinity of the subject property: There are no visible or anoarent adverse enviommental condltloins that would neaativelv imoact
the value of the subject
~""'FormlDS.!I:l PAGE1QFZ '-_F.n.I/J/148-93
___p_IJ9hl__-....,%lol-'lnl'_...--._
UNIFORM F 'JENTIAL APPRAISAL REPORT 03-685M1S
Valuation Sect;on FileNo. 185M1S
ESTltMTED SITE VALUE. ..... , Comments on Cost Approach (such as, sourL cost estimate,
ESTlfMTED REPROOUCT!()II COST -NEW OF It.FROVEMENTS; site value, squID footcalculalion and for HUO, VA and FmHA, the
""'"'" 1,480Sq.Fl@;$_ ~ $ 0 estimated remaining economic life of the property):
8smt. 0 Sq.Fl@$ ~ 0 In the re reduction cost of im rovements Marshall & Swift
. FIP ~ Residential Cost Handbook and local contractors are
: Goag"""", Sq.Fl @$ ~ referenced .
TotalEstimatedCosINew .....,.. ..... ~ $ 0
Less ~Functionall """"" Est Remaining Econ. Ufe: 44
.~ oS 0
Depredated Value of Improvements . ..... ~ $ 0
"As4s" Value of Slle Improvements. ~ $
INDICATED VALUe BY COST APPROACH. ~ $ o Estimated remainin economic life is 30-35 ears.
'TEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
5 Pipher Lane 227A Orchard Road 2533 Pheasant Drive 1417 Creek Road
....... Mechanicsbu PA New Cumberland PA Grantham PA Beilin S rin s PA
oct ,ji;!: 8.5 Miles+l. 5.5 Miles+/. Miles+f.
$ Estate. 't" $ 165 000 . '~$ 139 500 $ 138900
$ 0.00 ill $ 104.30 ill 'i::1IlI ~ $ 98.24 III ~i?4I~';'i;,~,,;'it2i~~;;:;: $ 95.40 ill
C.P.M.L. C.P.M.L. C.P.M,L.
en! en! en!
DESCRIPTION ..)5 DESCRIPTION .s~ DESCRIPTION ..)s
Sales a Finandng 102 DOM 71DOM 59 DOM
Concessions F.HA -5000 VA -4000 F.HA -4 000
Date of Sale/Time 7/22103 7/30/03 3/20/03
lO<ation Suburban Suburban Suburban Suburban
~ Fee Sim Ie Fee Sim Ie Fee Sim Ie Fee Sim Ie
Site 1.14 Acres 0.46 Acre+/. +1400 0.48.Acre+f. +1 300 1.65 Acres+f- ,1000
- Avera e Avera e Avera e Avera e
. nandA ,. Ranch / Good Ranctv'Good RanchlAv +3 000 Ranch/Good
d~ Stone Vinl Brlck/Wood Brick 1 Alumin
, 27 Yrs. 15 Years+/. 24 Years+l- 30 Year +/-
Condition Above Avera e Above Avera e Above Av e Avera e +5,000
""""G<od, T...... MmI' -- TaIII'lknno' -- T.....'_. -- r.....'_' .-
Room Count 4: 2: 1.00 6: 3: 1.50' .1,800 6: 2: 2.00' .1,500 6: 3: 1.50' .1.800
GrossLivi ,,,. 1 480 .Fl 1582 .Ft. .1000 1420 .Fl 1456 S .Ft
. Basement&F'l'Iistled Crawl Space Full-Exposed : .5,000 None Full ,3,000
Rooms Below Grade Unfinished FamR BedR Bath : .5 000 None Unfinished
Functional Utili Avera e Av e Avera e Ave e
"" eooll B.B. Elec 1 None Elec.H.Pum CA .1 000 EBB/None Oil H.Air/CA .1000
. Etrdentlterrcs Avera e Avera e Avera e Avera e
2 Car. Gara e 2 Car Gara e 2 Car Gara e 2 Car Gara e
Pordl,PaIlo,Oeck. None Oeck .1,000 Deck .1,000 Patio -500
R s,ete. Fir lace 2 Fir laces -1500 Fi lace None +1,500
Fenc&, Pool etc. None None None None
None None None : None
Not .tolal '$ 2200 . X - '$ 4,800
AqusIlldSalesPri:e i~':5~.8~~
ole arable $ 137 300 ^Mit:;:~31&ia;;:~{; s 134100
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, atc. ): See addendum.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Pricaand Data None None None None
Scuce fer p'ir sales N/A N1A N/A N/A
- 01 Owners Deed C.P.M.L Court House C.P.M.L.lCourt House C.P.M.L/Court House
Analysis at any current agreement of sale, option, ex" listing oltlle subject property and analysis of any p'irsalesatsubject and ~arabIes vMhi1 one yg of !he date of Clp!:faisaI:
The sales com arison a roach carries the most we; ht in determin market value as it is based on historical infirmation and is not as
sub'ective as in the income a roach
INDICATED VALUE BY SALES COMPARISON APPROACH. .$ 140.000
INDICATED VALUE BY INCOME APPROAai EstimatedMln:etRentS N/A 1lIo. xQoss Rent N/A =S 0
This appraisal is made X "as is' subjeCttolherepan.alteratim,i1spedklnsex"alf1dtklI'lSistedbelcMt ~looompielilnperpjansandspedficaOOns.
CcrdOOns of App'aisa: The a raiser assumes a maretable title and that ui ment associated with the im rovement is in workin order
Final ReconciUaIion: The market a roach reindorced b the cost a roach is a ood indicator of fair market value
. DATE OF DEATH AUGUST 31 2003
The purpose of this appraisai is 10 estimate lhe market value of tile real property that is lhe subject 01 this report,basedontheaboveconditionsandlhecerti\b!lion.contilgent
and lirriting conditions. and mlli<et value detlniUon lhaI:n stated n the attached Ffedcie MBc:Fam4391Fn'ie Mae Forn 1004B (Revised 6/93 I.
I (WE) ESTIMATE THE MARKET VALUE, AS DEFlNED, OFntE REAL PROPERlY THAT IS THE SUBJECT OFTHIS REPORT.~OF 08.31.03
. (WHICH IS THE DATE OF lNSPECTI El' DATE OF THIS REPORl) rOBE S 140.000
. APPRAISER: SUPEfMSORY APPRAISER (ONLY IF REQUIRED):
S' ..... SiQflature 00;' OOid!'40t
Name Mark NOM Inspect Property
Dale ReportSiQl'led DateR Si "
StateC<<tificallon# StalePA Stale Certiflcalion # State
ex Slate Ueense # SlatePA Q-stateUcense# State
FNddIeMlcFam1'OB-9J PAGE 2 OF 2 F....MootFamlIOOolIJ.~
___DiIP'__._;p.o_Il'tI'____
Mark E. Hilbert and Assoc.
ADDENDUM
Bonowel': Geraldine M. Pfoher Estste File No.: 03.685M1~
Prooertv Address: 5 Ploher Lane Case No.: 03-685M1S
Cily: MechanicsburQ State: PA Zio: 17055
Lender: Charles Shields 111 Esq.
Comments on Sales Comparison
It is noted that the comparables provided are further than the preferred 3 miles for suburban properties. I was attempting to
find ranch style homes on larger than average lotS with 2 bedrooms.
Sales are firm in the area; however many resales have FHNV A and concession financing. These sales were used after
adjustments were considered.
The property's heating, plumbing and electrical systems appear to be functioning properly to the best of the appraiser's
knowledge and expertise.
1 am unable to v~rify the insulation ~R" factor. The presence of UREA-FORMALDEHYDE FOAM INSULATION could not be
determined. If UFFI is present, the appraised market value may be adversely affected or voided. Any information about
insulation stated on the appraisal was provided by inspection. owner or agent and is assumed to be accurate.
The appraiser in not aware of the existence of Radon Gas and/or Radon aaughters and does not have the necessary
equipment to test for presence of same. If a future test shows unacceptable levels of Radon present, the appraised market
value may be adversely effected or voided,
Please be advised that in the market data analysis grid, bathrooms are adjusted for on the first line and gross living
area/room count are adjusted together as a single adjusbnent on the second line.
All comparable sales are seWed to the best of the appraiser's knowledge. Verification of setUement is with County and/or
Realtor.lt is noted the gross adjusbnenl tor comparable No(s) exceeds 25%. This adjusbnent is larger than normat.
but the comparables chosen are considered the best available. Other comparables analyzed would have required less
desirable adjustments and were not used for that reason,
Addendum Paglil 1 of 1
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: Geraldne M. Pipher Estste FileNo.: 03-685M1S
Prooertv AddreSs: 5 Pi Dher Lane Case No.: OJ..685M1S
City: MechanicsburQ State: PA Zip: 1(
Lender: Char1es Shields 111 Es .
FRONT VIEW OF
SUBJECT PROPERTY
.
Appraised Date: August 31,2003
Appraised Value: $
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
...---".,......,...'" ,Ii.
~Tji;~':~"
1~l'~"~'.~".~.~"....,," '
;">;:;;lP,,"-~e>t ~::';~~~\',.:.~...~ ,'.~" :!,-" ~i.U'('
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: Gefaldne M. Pioher Estste File No.: o3-685M1S
__:5Pi~Lan. Case No.: 03-685M1S
City: Mechanicsburn State: PA liD: 17
Lender: Charles Shields III ESQ.
COMPARABLE SALE #1
2'27 A Orchard Road
New Cumberland, PA
Sale Date: 7f22JQ3
Sale Price: $ 165,000
COMPARABLE SALE #2
2533 Pheasant Orive
Grantham, PA
Sale Date; 7130103
Sale Price: $ 139.500
._,-,..~,..'\-,,,,,.....
COMPARABLE SALE #3
1417 Creek Road
Boiling Springs, PA
Sale Del.: 3120103
Sale Price: $ 138,900
.~;~f;~~i~~~{
B C 0 E JaillSM8P8 f G H J
,,,",,, "."." ~.too.(]ll(lfT J'MI'){\' 1rt1l1~'
pllC,:E
~/./~ ..-.-
~.-tr .
j
2
..~
. ~<J,~~
.~
.. "--
\" (,.
3 " 4' \
.,.<"P'- /
// ')
'"
"
4 /
~
\
5
:::
~
.
"
.
.5
a
,
6
""'"
!
~
3
~.
_..~.
l
m . UP1l
.
~ <
3 ALl
10 .
~
~ ,.- ~
:m'I3'l~' ~... ~~O]\(Iz.:mJJJlfT 7,.ot'JIT l1"1l{l'Oh'
CI"..Ii:l{"'''O'''''' Ol'll"I"TIN<iCO. "."."
A B C 0 E Joills Map 28 F G H j
~!ltr/Cfient I A\e#
P':'itvAdd'e~;,1:.l:.F I ;Jht!l? /-!4{l1#
Cl Ittc-' . (t~Q...yl State Zio Code
. L.nd" I ;
BUILDING SKETCH
.
...
-<l.
'\)\'1--.
t~ '"
~ ~
-
-,,\,.,
~t:- '- 1'>
W
'% ~ ~ ~
~ '< "
Il\ ~~
'" - l~
Q$I ,~
..
-
'" 1\2.]
- ~4
.......]1- ~~
"::;l
. ~~
~
~
MUL TI-P' '""'POSE SUPPLEMENTAL ADDENDUM '85M1S
FOR FEL .LL Y RELATED TRANSACTIONS (FIRREA) 85M1S
BorrowerfClienl Geraldine M. Pioher Estste
Prooertv Adli'es.s 5 Pioher Lane
Cllv Mechanicsbul'Q County Cumberland Slate PA liD Code 17055
lender Charles Shields III ESQ.
This Murti.Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a con.
venient way to comply with the current appraisal standards and requirements of the Federal Deposit Insurance Corporation (FOIC),
the Office of the Comptroller of Currency (OCG), The Office of Thrift Supervision (OTS), the Resolution Trust Corporation (RYe)
and the Federal Reserve.
This Multl.Purpose Supph,mental Addendum is for US!! with any appraisal. Only those
statements which have been checked by the appraiser apply to the property being appraised.
W The appraisal i$ based on the information gathered by the appraiser from pUblic records. other identified sources. inspection of the
subject property and neighborhood, and selection of comparable sales within Ihe subject market area. The original source of the com.
parables is shown in Ihe Data Source sectlon of the market grid along wlth the source of confirmation, If available. The original source
is presented flrst. The sources and data are considered reliable. When eonllicting information was provided, the sourcl deemed most
reliable has been used. Data belfeved to be unreliable was not included in the report nor used as a basis for the value conclusion.
W The Reproduction Cost is based on Marshall & Swift residential Cost Hand book and Local Contractors.
supplemenledby the a!)prafser's knowledge 01 the local markel.
o Physical depreciation is bued on the estimatad enactive age of the subject property. Functional and/or alternal deprecistion, if
present, is specifically addreued in the appraisal report or olher addenda. In estimating the site value, the appraiser has relied on
pe"onal ~nowJedge of the local market. This knowledge is based on prior and/or current analysis of site sales and/or abstraction of site
values Irom sales or improved properties.
[K] The subject property is located in an area of primarily owner-occupied single family residence3 and the Income Approach is not consi.
dered to be meaningful. For this reason, the Income Approach was not used.
o The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on Ihe appraiser's knowledge of Ihe
subject mar~et area. The rental knowledge Is based on prior andror current rental rata surveys of residentiat properties. The Gross Rent
Mu1!lpllerls based on ptior and/or current analysis of prices and marketrate:s forresi dentlalpropertles.
DForincome producing propertfes, aClualrents, vacanciesandlJ It.penseshaveb8snrep01tedandanalyzed.Theyhavebeenusedtopro.
jectfuture renls, vacancies and expenses.
. SUBJECT PROPERTY OFFERING INFORMATION
~!o the subject property,
~~""~._.~"-~'- -. - ~
I. currently offered for sale for S
wasofferedfor;alewilhlnthepasl _ ITll)nlflsor _ years
OffllfVlgll'\lormalkln was considered In lfle final reamciHalion 01 value
0tf<<irTg KtIOrma&n wa. not com.ldared In Ihe Iillal feconeiliation ofvalue
Offering Informetion was not available The reasons for unavailability and the steps taken by the appraiser are explained later In
lhisaddendum.
. SALES HISTORY OF SUBJECT PROPERTY
According to the subject property:
8 ... .ot ...,f.".. ,... ..., - mo... '" - ,.....
h.stransferred inlhepast _ monthsor _ ye8l'$.
An priot sales which have occurred in the past _ manthsor _ years are listed below and reconciled 10 the
a 'Nd ~aIue, eilhsr in the bod of !he fe or in the addenda.
Cate Sale. Price Document fI. SellOf' Buyer
EI FEMA FLOOD HAZARD DATA
~ Subject property i. not lOl:ated In a FEMA Spedal Flood Hazard Area.
Sub.ect I. located in a FeMAS eciafAood Hazard Area.
Zone FEMAMa Panelfl. Ma Date Name of Communi
. C . 420370 03.03-92 Silver Spring Township
The community does not participate in the National Flood Insurance Program.
X The community does participate in the National Flood InslSanee Program.
Itlscoveredbyaregularprognmt.
It is coverlHl by an emer ency pr<:I ram.
",."" Form. & Worm. Inc., 31S Wtlllney Ay.. N... H....n. CT 111511 All Right. R.......d
O_~lft2 _____......-......OCl~___(JW:l2Jol.ll>V
03.685M1S
985M1S
,
EI CURRENT SALES CONTRACT
~The subject property is currently not under contract.
Th-e contract and/or escrow instructions wer" not available for review. The unavailability of the contract is eKl1lained laler in the
addeRdasection.
DThe contract aMlor escrow instructions wen reviewed. The rol/owing summarizes the contract:
Contract Date Amendment Date Contract Price Selier
.
8Th conlract indicated that personal property was not Included inlhe sa/II,
The contract indicated Ihat per$oRal property was included. II conSlsled of
E:sllmated contrlbutoryvaluais$
~P''''''! ,,,,orty wu nolln,I".o. "tho ",,' ,,'"' "tim....
Parsonal property was Included in the fiRal value e$timate.
The contracl indicated no financing conceuions or other incanlives.
The contract indicated the following concessions or incenllves:
DI1 conc8$sions or incenlives exist. the com parables were checked for similar concessions and appropriate adjustments were made, if
applicable, so that the final value conclusion is in compliance with the M.rket Value defined herein.
The Appraiser certifies and agrees that:
(1) fheir analyses, opinions and conclusions were deyeloped, and this report was prepared, in conformity with the Uniform Standards of
Profusional Appraisal Practice ("USPAp.), and in accordance with the regulations developed by the lender's Federal Regulatory
Agency as required by FIRREA, except that the Departure Provision; 01 the USPAP do not apply.
(2) Their compensation (s not contingent upon the reporting of predllle/mined value or direction in value thatlavors the cause of the
client, the amount of the value estimate, the attainment of a stlp;ulated resull. or the occurrence ofa subseqllen teven!.
(3) This appraisat assignmenl was not bued on the requested minimum valuation, a specific valuation. or the approval 01 a loan.
II ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS
Thl value estimated is based on the assumption that the property is not negatively affected by thl existence of hazardous sUb$lances or
detrimental environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of
hazardous substances or detrimental environmental condJtions, The appraiser's routine inspectioR of and inquiries about the subject
property did not develop any information thaI indicated any appatlllRt significant hazardous substances or detrimental environmental
cORditlons which would affect the property negatively unless otherwise stated in this report. It is possible that tests and inspections made
by a qualified hazardous substance and snvironmental expert would reveal the existence 0' hazardous substances or detrimental
environmental conditions on or around the property that would negatively affect its 'o'alue.
. ADDITIONAL COMMENTS
X . ......
Effective Date 08131/2003
Phone t ( 717 ) 766.4988
Residential Certification W C"Uflcation 11 RL.000388.L Tax 10 II 23.2391423
. CO-SIGNING APPRAISER'S CERTIFICATION
DThe co.signing appraiser has personally Inspected lhesubject property, both inside and out, and has made an exterior inspection of all
comparable sales listed in the report. The report was prepared by the appraiser under direct supervision of the CO-signing appraiser.
The co-signing appraiser accepts responsibility for Ihe contents of the report including the value conclusions and the limiting condi-
lions, and confirms that the c'lrtificatlons apply fully to lheco-signingappraiser
~Th' "-""'" .",,;..,.u nol p...on.lly Inop..". th, ",,,,,, of 'h. "hi'" ,'o'''~ "d,
has not Inspected the exterior ollhe subject property and all comparable sales listed in the report.
has Inspected the exterior of the subject property and all comparable sales lisledin the report.
The report was prepared by the appraiser URder direct supervision of Ihe co-signing appraiser. The co.signing appraiser accepls
responsibility lor the contents of the report, including the value conclusions and the limiting condition;, and confirms thai the
cl!!rllfications apply fully to the co-signing appraiser with the exception of the certification regarding physical inspections. The above
describes a level of inspecliotl performed by the co-signing appraiser.
DT'" co-signing appraiser's level of inspect!on, involvement in the appraisal process and certification are covered elsewhlHe in the
addenda section of this appraisal.
. CO-SIGNING APPRAISER'S SIGNATURE & L1CENSE/CERTtFICATION
Appraiser's Signature DTrainee o Review o Other
Appraiser's Name (print) SSI
State Olicense DC'IrlifiedResidential DCertlficatfon'
PN."'" F<<m. & Worm_ Inc., 315 Whlt....y "'.... Hew "".nn, C'T "Sft AU R/gIrU R....."..d
"--1hZ ____..-.....<Cl"-*"~_"""'_(IOO'I-.r.!,
~_IlNKt'lllI'__IIIJlI!o"" ~-..
"" lMl8_)~dWdSll
~.ld padsullON P!Cl 0 eo 0
:asua:l!1X1IXl!le:l!lllJll:)PSleaooge~ SOOZ 'OE: eunr :85UllOn XI uogl!:llj!l.l9::JpeleQ OO!le~
:alE!1S 'v'd:slE!1S
:jBSUEOflBlelsn \fSSL6Z08Cl :f# QSUOOfl91E!1S XI
:tIOO!Ie:I!mJB::)alE!lS '.S9EOOO-1Cl '.# U9!1iC!I!tJ9::J BIIlIS
:J39UB!s8Iea EOOl' 'g JCKjWS::l9a :peufl!s 8180
:8weN ~".""~N
:B.JlIeu6!S
:(psJ!nbaJJI AIUO) H3SIYHddY AHOSIAH3dns ~."""'s
:H3SIYHddY
:a.f1Sops!p 6U!J!l1baJ sanss! p9lelaJ-d'v'dSn Aue snld 'r~ 'E-~ 'Z.~ s9fll't:! spJepuejS woJl sa~Jedap Aue 9l0N
uone:)u!~uapl tJodaH pue leS!eJdd" UO S~U8WWO::>
'lJC!daJ Sl41;0 l:la!qns 941 S! 11ll.ll 4l9doJd 9111 JO uO!l:)ildSUlleUOSJad Il spew IOU aAIlII0 8AIlII ~I .
'9:!!l:lIlJd
IIlS!IlJdd'9' 18uo!ssaJoJd 10 SPJIlPUIlIS WJOI!Un 84141IM ^,!WJOIUO:> U! 'p8JedsJd u88q S811 jJodsJ S!41 pUB PSdOjSASP 8_ SUo!snpuro pUll suo!u!do 'SBS^18U8 ^w .
'f8S!8Jddlls!4IjOaSn
PSPU81U! Sill 01 pS18111J ^ll:lllJjP lUllAS luenb8sqns 8 JO a:lUllJJl\:l:lO 841 JO 'unsaJ IH'lelndllS 8 JO lUaWU!eUIl 8111 'uO!u!do 8nlllA alii JO junowll 041 'IU8U:l 0111 JO "n8:1
8l.l1 SJQAlllllllll 8nl8A U! uo!paJ!p JO 8nlllA PSUflWalBP8Jd B 10 6U!jJOlhu JO lUswdojOA8P 8l.l1 uodn 1us6uI1Uo::IIOU S! lU8Wu6!sSIl S!1l1 6unSldwoo JO; U0\18SUBdwo:l Arl .
'sllnSBJ pau!WJBlapllJd f1U!lJOdllJ JO llu!dolBAap uodn lUBllullUCl:I IOU S8M lU8WUfl!SS1l S!1l1 U! IUllwBlle6ull Aw .
"IU8WU6!SSB SNI 1I11M POAIOAU! SB!lJed 8111 JO jJodSJ S!1l1 JO ps[qns 11111 SI 11l1l1 4IsdOJd 8111 01 p8dsBJ 1I1!M selq ou BASil I .
'paAI0^U!SIl!jJ8dalllOIPlldS8JlIllMISIlJSIU!IIlUOSJadoupU8'jJodaJSNI101:J9[qnsBIlIS!lB4IAjJaclOJdIlIlIU!lS9JIIIU!OA!1:JadsoJdJ01UIlSIIJdOUSAIlIlI'
'sUO!snpUo:lpuesuO!uldO'S8sA,8UIlIIlUO!SS910Jd
pasll!qun pue 'j8!jJlldwl 'leUosJ9d Aw 9J8 pUll 'SUO!l!PUO:l 6u!l!w!1 pue sUO!ldWnSSB pSjJodaJ 9111 Aq ..<tUO PllllW!1 9J8 suO!snpuoo pue 'suo!ujdo 'sesAlllull pSjJOdsJ 8tU. .
'1:lIlJJoapue9n.qllJelJOd9JS!IlIU!pllU!elUO:lI:lllljOS,uswa11lIsalll.
:18!18qpue a6pll1MOU'lI Aw IOlsaq 8111 01 '\elllAP.lJll;)1
tat 81nH SpJepUe~s uo S~U8WWO::>
C}iluollSnlUll!pJOI
~ mWONV1S Japun paWJojJad leS!eJdd'9' pal!W!1 JO 91ajdwo::) e jO (:J)Z-Z 811l};1 spJ8PUlllS Japun pSJlldeJd IJOdaJ USII!JM '9') paP!llss't:! 0
(' I O!;!'9'ON'o'lS JBpUn pllWJojJ9d leS!eJdd'9' pal!w!1 JO alllldwo::) e 10 (q)Z'Z al"!;! spJepUll1S Japun pBJedllJd jJodaJ uall!JM '9') AJeWWns 00
('\ Ol;l'9'ON'9'lS J8pun pswJojJad IBS!eJdcrv pal!Wn JO 1119Idwo:) e 10 (e)z-z Sin!;! SPJIlPUIlIS J8pun pSJedaJd lJodllJ uamw '9') paU!e1UCY.) JIBS 0
:sild.q 6U!MOIIOj aLll JO arro s! podaJ S!L11
('alnl;laJIljJedll(]
81l11lu!'lIOAUI wOll lIu!llnS8J pue Japun pllWJOjJed 'lln,e.o.lo uo!u!do ue JO 'IlnleA 6u!IIlW!ISS JO SS&:lOJd JO pe llllD 18S!U:ldy p:ll1wn 0
('aln!;! 8JOlJBdaa Sill lIuPlO^U! ,"Olll!'" pBW.lOJ.Illd 'IlnjeA 10 Uo!u!do ue JO 'anlB^ 5U!18W!lSlljO SSS::IOJd JO l:le 1141) l'IlSJeJddv alilldwCY.) 00
:SUo!l!uyap 6U!M0110j 9111 JO arro 01 SWJOIUO::lleS!eJdde S!lll
NOIJ.V::>I~I.1,N301 J.}lOd3}l ONV lVSIV}lddV
53 111 SPla!4S 59pelt:J :spua1
g90LI spa::) !Z \fd all!iS puepaqwn:J "000 JnqSO!ue4::>a~ '"
sue, J94 !d g SSaJppV
S ~~S~m.EO .oN 8U:l 91SlS3 Ja4 !d ;j,A,J aU!P!F'~a8 J8MOJJ08
E6"9 atom W1O~ aev.. l)O ~ aBed E6il6ct WJO~ :leVoj S!ppaJ:;!
'e!paw JSljlO JO 'sales 'SMSU 'SUOl)elaJ :J!lqnd 'Bu!SllJ9^pe lj6nOJlU :J!lqnd aljl 0) 9uoAue.(q pa.(a^utr.l 9q Ue:;J res!eJdde aqj
aJoJaq p9ujelqo sq oSle lsnw teAoJdde pue lU9SUO:J uaU!JM s,J9s!eJdde alll 'luasuo:J uaUjJM Jopd s,Jas!eJdde alU u!elqo 01 6u!^elllnOlj~!M
(s}a:llAJas BU!IJod9J JO uOU:JallOO e)ep 0) .(IUO pod9J sill jO UO!I:JSS UO!ld]J::lsap ,.(padoJd a(lJ alnQfJlS!p ..Iew iU8!I:J/JapUB' $IU ~glu ~da:Jxa
:ejqwnloJ jO 4:J!JISIO alll JO 91els .(ue JO s9lelS p91!Un 9lU jO ~!lelUaWnJ1SU! JO '.(:Ju9Be 'lUawP&dap Aue JO :uo!1nmSU! le!::IueUlj pOl^oJdde
AueJap9j JO slel! Aue :suO!lez!ueBJo leS!BJdde leuo(Ss9jOJd :$1UB~ln$Uo:;! ;J&JnSUI &.BeBlJOMJ 9tH :su6)sse pue SJOSsao:IOS $II] JO aa6e6lJOlU
alll ~J9MOJJOq alll uelll Jalllo auoAue ol ( palej::lOSse s1 J9s!eJdde 9111 40!\lM 4l!M WJll 91.n JO sUO!leZ!UeDJO leS1eJdde leUO!SS8jOJd Aue
01 SaOUaJ9j9J pue 'Su01f6'uBtsap leUOIss8JOJd pue .(mua~ S,J9S1eJdde a\lJ 'an/e^ Ap9dOJd 9ljllnoqe suo!snjouo:J 6Ujpnl:JU!) lJodaJ IB:S!eJdde
alA slnqplS!p ue:J lJod9J leS!eJdde 941 U! parnoads IU9!t:J/J9pU91 941 9JOjaq lU9SUOO U9U!JM Jopd J94 JO S!\l ap!floJd lsnw J9s!eJdde 941 'O~
'Jauuew 9'l1!IUelWlJOM e U! p6W.J:lJ.l9Cl aq leM Slu9WaAOJdW! &lll JO uogaf(iWO:J lB:lQ UO!ldwnsse 9\U 1IO SUO!1eJ9l1e.Xl 'S.l!ed9J
'uOjJ9,dwoo ,(Jo4:Je,s!l8S 0110a!qns S! le41leS!8Jdde Ull JOI uOlsnl:JUOO uO!lenIB^ pue ~JodaJ IBS!eJdde Ja4 JO S!lj paseq sell J&s!eJdde a41 '6
'e:J!1::1eJdleS!B:Jddy
leuO!ssaloJd JO spJepu81S WJoJ!Un alll U! JOJ pap!^o.rd Sll lctaoxa tJodaJ leS!IlJdde al.n JO s~uaHJoo 91n asol:)slP )OU 11IM Jas!B:Jdde al/l '9
'san.redJ91./10Aq P9llS!UJnJaJSMll3l.IlSW9l!
ll:Jns JO AOeUn:l:J1l aljl JOJ ~!I!q!suodsaJ awnSSll IOU S90p J9s!IlJdde 9tH. 'l:JaJJO::l pUll 9nJl aq Ol W9ll:! S&A9!laq pue 91qen9J sq Ol SJap!SUOo
''!.is 10 "4 ~B\ll sa~)JIlOS wOJJ J.jodaJ leS)eJdde a41 U! passaJdxQ 919M letU suo!u!do pue 'S81llW!lS9 'UO!lllWJOJU! 941 p9U!e~qo J9sjeJdde 9\l1 'l
'..<.1J9dOJd 9lIl1O
luawssasse leIU9WUOJ!^U9 U8 Sf! paJap!suoo 9q IOU Isnw lJ009J IBS!IlJdde a~ 'SpJeZe4 lelUawuO.l!^ua JO Play aln U! 1J8dxa tie lOll S! JGSjeJddll
91l~ asneoas '1$!xa suo!l!puoo 40ns Ja\l181lM J9f10::lS!P 01 paJ!nb9J aq 1\l6!w ~e41 6U!~S91 JO fiUpaaU!DUa Aue JOt JO lS!l'S op le4l suolUpuo:)
lions ,(ue JOJ alqjsuods9J aq 10U 111M J9s!eJddll 9111 ',(lJadoJd 9\lljO UO!1!PUO:) 941 6u!pJetifn 'p8!,dw! JO SS8Jdxa 'sa,~ueJJeN. JO SSSlUeJenfi
ou S9'l1BW pUll suo!l!puoo 40ns OU aJe aJaljlle41 p9wnSSB selj pue 'Qlqenl'efl ssal JO 9JOW AlJ8doJd all~ a'llew PlnoM le41 ( ':)19 'sa::luelsqns
:J!l'Ol 'salsBM snopJeze4 JO a:JlJesaJd atfl 6u!pnpu!) st/ompuo:) IB1U9wuO~Aua aSJaApe JO ,(lJadoJd a4l '0 SUO!I!puO:J ~uaJeddeun JO
uapP!1l ,(ue JO a6palMou'lI ou sell Jas!IlJdde alll 'IJodaJ ]BS!IlJddll a41 U! palels as!MJ&ljIO sSillun 'lllS!eJdde alU 6u!wJoJ.,l9d U! PilAIOAU! 4:JJB:asilJ
jetUJO(J 91.j115/.JtJnp JO 9JBMe aweo&q ailS JO alj le\l) JO A}JadoJd l::19!qns a\ll)O uO!~:J8dsu! 9\ll fiupnp paAJ8sqo ( ':Jla 's90uelsqns O!l'Oj 'S91SeAl
snoPJllZe4 jO a:Juas9Jd 8tH 'uO!le!:)sJdap 'SJ!ed9J papaau 'SB I.pns) sUompuoo 9SJ8f1pe AUB pOd9J leS!eJdde aljl u! palOU se\l Jas!eJdde aljl '9
'pKn IN aR ,(aa p. PIfeAUJ tilJ1l
pUB leS!eJdde J9410 AU8 4l!M UO!I:lUn!uoo U! pasn 9q IOU lsnw SIUSWIMOJdwl pue PUBtaljl JO SUO!lenIBfl 9leJed9s asslll 'anle^ AJolnqpluo:J
J!a4lle slU9WaAOJdw! 941 pUB asn lSaq pue lSallD!1l Sl! Ie 4:)eoJdde lSO:) atji ur PUBI OlIn JO an/1M Stn p.neWI1S9 sell JaSleJdde aljl 'S;
'PUel/ilJOj&q _pew uaaq BAelj os op ot SlU9W86ueJJe
:J!J!:Jads ssalun 'UO!ISanb Ul ,(psdOJd slll JO leSleJdde lie apew 94S JO 9\l &Sne09q pno::l U! Jeadde JO .(UOW!1Sal 9A!610U mM J9s!eJdde 9ljl "
'UO!IBU!WJa19P 5!lllDu!p..e6aJ 'J)e!ldw! JO ssaJdl'a 'S9alUeJen6 OIl S&'lIew allS JO 94 'JO~aAJl'lS e IOU S! JaS!e.xfde
a1/1 asne:J9a -eaJ" pJezeH POOI~ le!oads pa@uap! ue U! palllOOj Sj ailS 4:Jafqns S41 Ja41a4M podSJ IBS!BJdde Sljl U! pa~ou se4 pUB (s9:)JnOS
elep JalllO JO) ,(:Jua6v luaw96eUBVlI klua6Jaw3, leJapa:l aljl Aq pap!flOJd aJe 1e41 sdew paoli &Iqe[!e^e 8In paU!WeX:8 Utf JBs!eJdde 8111 'C
'az!s SI! JO UO!leU!wJalap S,JaS1eJdde 841 DU!PUEllSJa?Ufl puB s<iJBdoJd 8I4l 0u1Zallt1S1A U! :.JOdaJ BqJ JO J9pBaJ an JS!SS8 OJ AlUO papnl:JU!
$I! 1l:l19)jS a41 pue slUaWBAoJdw! B\ll ~O SUO!SuaW1P a18W!l'oJdde M04S 01 ~Jod.1J IllS!eJdde 941 U! 401911S e pap!AoJd sell J8s!eJdde 941 '(l;
'd!ljS.lQUMO 9!q!SuodSIU .>>pun fiu!9Q ~ 10 S!seq a41 uo
pas!2Jdde s! NJaOOJd a\ll '91m aljl ploqe suo!u!do Aue JspuaJ IOU Ill..... 'aJOjSJ8ljl 'pue Blqela'llJew pue poofi S! alln aljllBllt sawnsse JBs!eJdde
Bill '1! 01 all!l a41 JO pas!eJdde 6u!aq AIJadoJd a41 Ja411a 10aue le41 9JnleU le6al e )0 SJanew JOj alq!slIods9J aq 10U IllM J8s!eJdde alll '~
"""!lffKiOO6utN.oa<>J
alii Oll:la!qns S! fJodaJ leS!eJdde alii Ul sJeadde le41 uO!1eo!J!lJao s,J9s!eJdde all! :SNOI.LIONO:J !)NI.LIWIl ON'" .LN3!)NI.LNO:J
NOI.L"':JI;I.L~3:J S.!l3SI"'~dd'" ONY SNOI.LIONO:J !)NI.LIWIl ;0 .LN3W3.L ViS
'luaw6pn[ s,Jas!eJddv 9ll1llC) paseq SUO!SS9:)UCl:) .Xl fiu!:Juelly 9lj) OJ UO!Pe&J sJa'llJew alQ alew!xoxlde PIf\OljS luaWJS1l!pe
AUe)O Junowe JeJlop 8ljl1nq UO!ssaouo:J JO DU!OUeu!J alii ;0 lSO::l JenOp JOJ Je1l0p JeO!Ul;!\lOBW e uo palB:ln:Jleo aq 10U Plnoljs luawlsn[pe
,(UV .uo!l:Jesuell JO ApsdoJd alj1 U! pa^lo^u! ApeSJle IOU S! lelll Japualleuo!)nmSUl AIJed PJ!\ll e Aq paJ9Uo sWJal Bu!:)ueu!J 01 suospedwoo ,.(q
ApadoJd alqeJedwo:J alU OJ 9pew aq us:) Slu8w1snfpe DU!OUeU!I afl!lB:aJ:J JO le!:J9ds 'suol1:JesUeJI sales ]1e AUen1J!^ U! SlsO:J asa~i sAed Jallas
a41 9:JU1S alqeWluilp] Al!peaJ iue Sjso:J aSaljl ~e.lJe lB)jJeW e U! Mel JO UO!I!peJ1 JO ~lflSaJ e se SJaH9S ,('1 p!ed ,(lIewJOU .lie l/:;!!!jAl S~SCl:) asolj~
JOI AJeSSaOau aJe SluaWI$nfpe ON 'SUOjssaouO:J sales JO 6u!oueu!I aAnear.l JO le!oads JO) apew aq Isnw salqB:Jedwo:l a41 01 Slu8wlsnfpy~
'91BS
al/ll/l!M paJeposse Buo);ue);q ps)ueJB .suo)ssa:Juo:l saJes JO DU!:lUeuy aNIElsJ:J JO le!oads Aq pal::1ajJeun PIOS ,(lJadoJd aljl JOI UO!leJap!Suo::l
leWJOU a41 S1U9SaJdaJ aO!Jd a41 (S) pue :019J941 alqeJedwo:l SlUSw96ueJJe le!:Jueuy JO sWJal U] JO SJellOp 's'n U! ljSBO JO SWJal U! apew sl
lU9wAed (v) :la'llJew usdo 9111 U! sJnsodl'a JOJ pa.....olle sl aW!j 91qeuose9J e (E) :lsaJa~U! lsaq u.....o S!4 SJSP!SUO:l a4 1e4M U! 6l1!1:Je ll:le9 pUB
'paSI^pe n9..... JO paWJoJU! lIaM ,ue ss!ped 1110'1 (Z) :P9leAqow Alleo!dAl aJe J9119S pue J9Anq (d :,(qaJa4M suoU!puo:) Japun Js,(nq at Jan8S
WO.IJ ann JO Du!ssed aljl pue alep pa!J!:lads e JO se ales e JO uO!lewwnsuoo 94l !:q UO!l!U!l9P S!41 u1 1!:>ndwl 'SnlnW!lS anpun ,(q pa109ue
IOU S! a:Jpd iUn DLJ!WnSSe pue ^lqeaBp9IMOU)j ',(lIuapnJd BUll:Je tf:Jea 'J9l1as pue Ja,(nq at41 'ales J!e~ e o~ 91/SlllbaJ suompuo:) III:! Japun
la'llJew uado pue a^U!IEldwO:J e U! fiu!Jq Plno\js A~JadoJd e lj:J!\lM Qopd alqeqoJd lS0W .HIl :3m"'A .L3)l~"'W;O NOI.LINI;30
S~r-lS89-~O 'oNeil::!
S~r-lS89-~O
E6-g StooL wJO::I Qe~ ~,,~aa.d E6-9 6Et wJO::I oew &lpp,u::I
S3~ "":JOSS'" ~ ~1l3al1H '3 ~ll"'~
"..told pad'"I"'N P!O 0 P!ao
:asua:lfl .j) uO!Jeo!p.~ iO alea uoneJ!dx3 SOOl DE Qunr :asua:ln JO lJO!le::l!mJ8:) jO aleo UO!leJ!dx3
:a~BJS 'Vd :8l~S
::Jasua:>!,~eISJO VS5L6Z08~ :# ~1 afE!iS JO
".#~:)aleIS 1-9S&QOO-1H ".# UOJIe:>yjlJ'a:) alEl.lS
:pauil!sOJOa f:00l 'g sqW9:>eO :pau6JS elea
:aweN 1J9GnH ':3 )jJe~ :awBN
:a.l'IlB1JO)S ~, :a~eu6!s
(paJ!nb.J I! ^IUo) 113SI\flldd\f AllOSI^1l3dnS
:1l3SI'Inldd\f
SSOH Vd 'bJnqso!uelPer-l 'Que, J94d!d S :03SI\flldd\f A.J.1l3dOlld ~O SS31100\f
'podaJ l'eS!u:lde a4l puB 11ilS!!.dd'e 8lII ~ ~~!Q!suodsaJ II"!
DU!)!el we pue 'aAOQB L 46noJ4~ t paJ&Qwnu SUOllB:>!J!pa::l s,Jas!BJdde eljl Aq punoq eq 01 aElJSe 'JeS!u:Jde 8lH JO slIO!sn/::Iuoo pue s~uaw9~e~s
al.ll 4l!M atuBe 'IJodaJ leS!BJddB el.ll paMa!^aJ &^ell 'lJodaJ IBS!eJdde eljl paJBdaJd Ol.lM Jlils!eJdde aljl eS!AJadns ,(I~:>el!p I :~e41 sealoe pue
saU!lla::l al.ls JO aq 'podElJ leS!eJdde aql pau6!s lBS!eJdde "JOS!AlaDnS B JI :NOI.L\f:>I~I.L1l3:> S,1l3SI'Inldd\f AllOSlA1l3dnS
'I! JOj 1\l!l!q!suods9.l ou a)jBlII!M I 'lXJdaJ IBSleJdde 8lII 01 apew S! a6uelp p&Z!JOlWleun ue J! 'alOJ9Ja41 ~lJOdiiu alU
II! W8~! "ue o~ a&elj:l e s"ew oJ auo,(ue paZpOtHne IOU 8^etll 'S)!S!:!I a4~ uuo!J8d 01 pa!J!lenb Sl pawBu os renp!^!pu! ,(ue lB41 ~llJa:J I 'l1odeJ
IBS!eJdde S!41 JO uOlpas UO!lB!l!:JU(Y.IaJ 941 U! wiill.H ,(q pawJojJsd s)jse~ :l!J!:lads a4~ pasOI:ls!p pue (S)lenp!^!pu! 4:lns paweu eAeq r 'podal
lesleJClde 941 JO UO!leJBdaJd a41 JO IBS!eJdde &4110 a:luewJOIJad alj' Ul SIBnPl^!pu! JO IBnp!A!pu! Aue wOJj a:>ue~s!sse leUO!SsaJoJd ~ue:>!J!u6!s
uo pallaJ I JI 'podaJ leSleJddB 841 ul 4poJ I.s aJa,., IB4~ alBlsa leaJ aql1noqe SUO!Uldo pue suO!snl:>lJo:> /18 p9JedaJd AueuosJad I '0
'~J9dM palqns aqJ JO ^w.1Q~)jRW 8tU UO SUO!l!ptJOO: 9SJaAPe 9lll jO paJJa 9lI1lflOqB
palU9wwO:) oSle 9^B4 I 'wal.lllJoddns o~ a:lUap!^9 ~9)jJeW pB1l1 ~B411u81xa atl~ o~ 8n1B^ Apadold 841 JO S!sAleUe ,(w ul SUO!llpuo:> SSJ9^PB
9S91U 10J s~uaWJsn~pB SPBW 8M!4 pue .lJeA\e we 1 4:l!IlM JO ..\+ladoJd l:>a!qns a41 jO k!!U!::l!^ 81B!paww! 84~ U!tlW' 81!S ,(ue uo JO 'aus ~:l8fqns
eln uo 'sIUaWa^Oldw! ~:ltl!Qns a41 Ul sUompu~ eSJ8^pe UMOU)j JO IUaJedde ,(ue p910U a^e4 I le41 NnJIJ:l JaqlJnj ( 'lJodaJ 1f1S!sJdde aqlll!
salqeJedwo:> se palS![ salpadoJd tie JO JOP81X8 a41 pUB ~J8dOJd l:lafqns el.lllo seaJe 10pa\X8 pue Jopetu! 841 p"padSU! AlleUOsJad s^e4 I '9
'uogoes UO!1B!Lr.lUOO8J al/l U! palets 8S!MJalllO aABII I ssalUn 'Uod8J S!41 jO uog:>as p004~ a41 ul palOlJ ew~ 6ul1&)!JBW
84141!lIIllU9i5!SUO:J Sf pado/aAap I a~ew!~sa aliI pUB 8nle^ le)jJBW jO UO!l!uljap il41 U! UOUlpUO:l B 5! 18)jJew uado a41 U! amsodxa JOj awn
alQeuoseal B 10 81ewllsa ue lelU a6palMowl:>e 1 ',(Idde ~ou ssop tl:>!4M 'SpJepUB~S as041 jO U01S1^OJd aJn1JBdap elll jO UOnd8:lXa iil4~ 1l~!M
'JBsJeJdde S!41 JO alep a^!~aJJa ;un jO SB a:leld u! aJilM le4~ pue uonepUnO:l18S!BJddv all1 JO pJe08 spJepue~s IGS!eJddV alll ,(q p8~B6lnWoJd
pue p8ldope aJ8M 1etll 8:l!peJd leS!BJddV leuO!ssaJOJd JO spJepue1S WJoJlun a41 4i!M ^UtIJl01UOO u! le9!111ddl1 514~ pawJopad, 'f
'UBOI 86e6pow ~ e aAOJdde 01 paeu QlU,Xl 'UO!lerlleA ::I[lp9ds
e 'uOnenle^ wnwlu!w palsanbaJ e uo 110d8J 1B'S!eJdde alj~ aSBq IOU PIP I 'IBSIBJdde all~ 6ujwJopad JOJ ~uaw,(0Idw8 Jo/pue uonBsuadwoo
,(w 8"1e:lal o~ JSI:lJO uJ )ua^a )uanbasqns e JO 8:>ualJn:>:l0 a41 JO 'Uns&J :l!J!:>eds B JO luawu!eue a41 'alewns8 anleA eljl jO lunowe a'll
',(ped pelel8J Jiue JO IUall:l 84110 asneo atH sJo^eJ llHll anleA ul uO!l:Jel!p JO enle^ paUlWJelep8Jd e podeJ o~ peJlnOal 1011 Slfllll I '9
'4Jado.a:1 ~I JO atlfB" ~1dde ~ uo ~lJ9&mlJ(O S! fBSIeJdde S!41 6u!~ 10j uogesuadWlX>
,(w JOU luawJiordwa eJnlnl JO luaJJn:l,(w Jal.l~!au pue ',(118dOJd ~:la!qns 9'l~ U! ~saJalu! eJnln,l pelB,dwe~uo:l JO tuas8Jd OU a^elj I 'S
. 4Jad0J(f pafqns
alii JO ,(1!U!:l!^ aliI ul S8!P8dOJd alll JO SlUedn:l::lo JO SJaUMO IUaS9Jd 911110 JO JiIJadoJd l:Jsfqns a'll JO SlUedn:l:>o JO SJSUMO 8^!1::!adsoJd
841 Jil41!a JO U16110 leuoneu JO 'snlels lemweJ 'de:l!pue'l 'xes 'uo!6118J 'JOIO::l '80eJ alll uo IJodal 1f1S!Bldde alll ul 8R1e" 19)fJeW JO aJgwJ~sa
81.U JOlpue slsJileUB,(w ',{Iajaldwo:l JO JiUB!lJe(\ J81.n!e 'aseq IOU PIP I 'uol1:>esueJ1 alj~ U! SIUedp!1Jed 841 Oll:ladsaJ 'lW" !ilelq JO lS8181Ul
leUo$Jaa' 8^!I:JadsoJd JO ~uasald ou 8Ae41 pue '~JOdal S!II~ OII:JS[qns e4~ ~ IBI./l4tadold a'll U! )SaJSlul 8"!l:lad$oJd JO lUesilJd ou a^el.ll 'y
'wJClj S!4' U! paylOads sUO!I!PU(Y.I 6u!l1W11 pue ~ualiU!lUO:l 8111 01 ^,UO
pa!qns aJe 1l:l!4M 'SUo!snl::luo:J pue 'SUO!Uldo 'S!sAIBUB leUo!ssajoJd pUB 'pese!qun 'leUOsJad UMO Jiw ,(IUO podaJ res!eJddB 8q1 U! palels I '~
'~ pile' 9rt}i a.le ,mal jes!fNdde 84' ~ uonew~ pue ~uaw8)BlS ~e J~lll 'aBp81MOUlJ
Jiw JO lS8q 8111 01 'aAa!ieq I pUe podaJ IBS!eJdde alll W01~ UOllBWJOjU! lUe:l!J!u6!s ,(ue ple'l4~!M ,(16u!MOU'lIIOU e^B\j I 'podaJ IBS!elddB
ai/I (I! anle,\ ~aJflew jO aJBW!~58 alII JO juawdOl8A8P ,{w U! anJeA UO ~::IBdw! ue 9^e4 lel.ll s10l::leJ 8q~ UOneJOp!Suo:> OlU! u8)!el a^etll '~
'8jqeJBdwrola4lJOa:l[JdS8Ies
pajsn!pe 84~ aSB8J:lU! o~ luawlsn!pB 8^II!Sod e apew i;I^elj I ',(padoJd l:>e(qnS 841 ue41 arqeJoM~1 ssal 10 'Ot JO!J8JU! 51 AiJ9doJd 8/qeledwo.o
e U! wall lue:Jwu6\s e J! 'pUB alqeJedwo:l a'l~ ,10 9:l[Jd salBs PQ~sn!pe atll a:lnpaJ Olluawlsn!pe a^lle6au e apew 8Aelll ',(l1adoJd l::la[qns 841
'U84' alqeJOABj alOW JO ' O. JO[J&dns !ill '(~dOJd 9lQeledwD:J e U! Ulal! ~ueo!J.lufi!s B J.J 'UO!)B!Je^ lue:J!J!u6!s JO swau asotl~ 01 uOII:J8eJ la>peUj
e411:J8UiiU 01 8lB!JdoJdde ua4M luawlsn!pe JellOp e apew a^e4 pue S!S,(IBue uospBdwo:J sales alll U! UO!lB18P!SUO:l JOl 41adoJd l:lafqns etH 01
aJe\Uftold pue Jel!w!S ISOW sa!lJadoJQ jO sales lUa:l8J aaJ41)0 wnw!ulw e papalas a^ell pue BiJe la'llJeUll:la(qns alii patl:lJeasaJ 8^e4 I . ~
:le41 saaJ6e pue S9Y!Pa:l J8S!e.l1dV 84l :NOI.L\f:JI~I.L1l3:J S1l3SI\flldd\f
S ~~geg.f:O 'ON al!~
S~lfllge9~f:O
m Hilbert & Associates-Realtor
REALTOR'"
Mark E, Hilbert, Broker / ,Appraiser
(717) 766-4988 . FAX (717) 795-9301
Real Estate Appraisals
- APPRAlSALREPORT
FOR
Geraldine M, PipheT Estate
Charles E. Shields, III Esquire
6 Clouser Road
Mechanicsburg, P A 17055
Silver Springs Township
OffHogestown Road
Mechanicsburg, P A 17055
35.14 Acre Tract
Mr, Charlie Shields, III Esq, October 6,2003
6 Clouser Road
Mechanicsburg, P A 17055
Re: 35.14 Acre tract off Hogestown Road
Mechanicsburg, PA 17055
I certify that I have personally inspected the property referenced above, in
accordance with your request. This appraisal was made to estimate the Market Value as
of August 31,2003.
Market Value is defined as "The most probable price which a property should
bring in a competitive and open market under all conditions requisite to a fair sale, the
buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus, Implicit in this definition is the consummation of a sale as of
a specified date and the passing oftitle from seller to buyer under conditions whereby:
a, buyer and seller are typically motivated;
b, both parties are well informed or well advised, and e\lch acting in what
he considers his own best interest;
c. a reasonable time is allowed for exposure in the open market;
d. payment is made in terms of cash in U,S. dollars or in terms of
fmancial arrangements comparable thereto; and
e, the price represents normal consideration for the property sold
unaffected by special or creative fmancing or sales concessions
granted by anyone associated with the sale.
The property has an estimated value as of August 31, 2003 of $904,000.
Employment in and compensation for making this appraisal are in no manner
contingent upon the value reported, and I certify that I have no fmancial interest in the
property appraised, present or contemplated, or in any mortgage secured thereby, The
appraiser has personally inspected the property,
Very truly yours,
,ICA
Certified Appraiser
#RL-000388-L
Appraisal of Geraldine M, Pipher Estate
Property situated in Silver Springs Township
MechanicsbuTg, P A 17055
Location: Subject property is located off Hogestown Road, Silver Springs Township,
Cumberland County, Pennsylvania.
Purpose: The purpose of this appraisal is to estimate the Fair Market Value as
defined on the front page of this report, of the subject property as of the
effective date of this appraisaL
The fair market value will represent the "as is" physical condition of the
property as of the date effective date of this appraisaL
Function: The function of this appraisal is its use in providing a fair market value
estimate which is for the explicit use of the client.
Property
Rights: The property rights appraised assumes fee simple title which includes all
of the rights and benefits inherent in ownership of the subject property,
subject to easements and restrictions ofrecord.
The subject property is not situated in the flood hazard area.
In this appraisal assignment, the existence of potential hazardous material
used in construction or the maintaining of the building or the gases found
in the environment (such as the presence of urea formaldehyde insulation,
toxic waste, and/or radon gas) which mayor may not be present in the
property, has not been considered, The appraiser is not qualified to detect
such substances. I urge the client to retain an expert regarding these
matters.
Ownership: Geraldine M. Pipher Estate
Legal
Description: See attached plot plan.
Surroundings: Subject is located just North of the Borough of MechanicsbuTg and South
of the Carlisle Pike off Hogestown Road (Route 114), Silver Springs
Township. The area around the subject property is a residential zoned
area with residential dwellings around the subj ect and small residential
developments throughout the area.
The area is rapidly improving due to the proximity to the Mechanicsburg
Navel Depot; the State Capital in H~sburg andthe expanding West
Shore area,
Zoning: The subject property is zoned R-l, single family residential.
Taxes and
Assessments: Property is assessed as farm land,
Utilities: Public utilities available to the subject are:
Gas: UGI Corportation
Sewer: Municipality Sewer Service
Water: Pennsylvania American Water Co,
Electric: Pennsylvania Power & Light Co,
Telephone: Verizon and C.T,C.r.
T.V. Cable: Sammons Communications
Market for
Homes: Real estate sales have been steady and continued demand is expected.
Labor
Available
For Road
Construction: There are contractors in the city and adjacent towns who will be interested
in bidding on road construction and who have available a labor supply that
will permit them to proceed with reasonable speed.
Highest and
Best Use: The highest and best use of the property is that use to which the land can
be put which will create the greatest utility for the land, be it in profit or in
amenities, and that which is permitted or would be permitted by the local
municipal or township authorities, and that which would not be unduly
objectionable to the character of the surrounding property, and keeping
within the scope of the general neighborhood development.
In estimating highest and best use, there are essentially three states of
analyses:
A. Possible use - uses to which it is physically possible to put the
site in question.
B. Permissible use -legal uses permitted by zoning and deed
restriction on the site in question,
C. Feasible use - possible and permissible uses that will produce
the highest net return, OT highest present worth,
, , --~;,
\
\
\
),
/\
, \
/ \
/' /"
,,I' / \
,./ /'
>' ,
/ '
/
/
....
I
-'
-
\
i4. tl G D r H J i'
,. 77"03'00' 17\ltlS' 77"01'30' 17W4S'
'~"lF \'e' / i-""'~ I SilvwrSp.....':.,..
'.
" ,,,
w"~ ~ "'" 0' ~lQ
, ~5 1t!ii""
, ' .1
_. fi s(i\.\~~ ~{ . \ "
t;!'i? [Jot,~
'" (,I> ( $~~f l"
~/"'~ ".
",~",:w
~#
y
~ \~ ~". '-
'" ' ( ~
i -
1;"[__ (' !:II'
"-
\ "
'J.O'" .-
,,~~
MONARCH '; 0.\,\
CfDA\~, ~...
Cl~"'DFf~(~
1t-4(~' "
, .0
4;' ~~ ,~ ..
I~ ,
<t.. ~'!l ,/~i
/ /" I'AIIl~, , !
, "/i ' "D _~ ~ l
I .' ~' .,
Ii "'" ,
, ~; ~I
I Sf !:~
!
i ~.
toM' V- I ~i1/
I ~..t.:,(
~\
~ " -, --- .'
~ .. '.... '... '+:'
,
.n
\-
~ (TOu..
I I \:
i I "
...d-~
,
I "-
. ,
pc FIRM
'j
,!
i FLOOD INSURANCE RATE MAP
Ie
"
~( ,
TOWNSHIP OF
SILVER SPRING,
PENNSYLVANIA
CUMBERLAND COUNTY
1
'>l PANEL 20 OF 20
, (SEE MAP INOEX FOA PANELS NOT PAINTED
no
,~
)1JI
p'
!:t'Ele
lpd
ir
'I~
11.::1li
.L COMMUNITY-PANEl NUMBER
L
uSt 420370 0020 B
'1.:1,
)1.:1. EFFECTIVE DATE:
MAY 2. 1983
-
.
-
;1
1 Federal Emergency Management Agenc:
~ . I
ZONE C
CROSS DRIVE
.
The highest and best use of the land (site), if vacant and available for use,
may be different from the highest and best use of the improved property.
This is normally true when the improvement is not an appropriate use and
yet makes a contribution to the total property value in excess of the value
of the site.
The following test must be passed in determining the highest and best use
ofthe land,
A, The use must be legal.
B. The use must be probable, not speculative.
C. There must be a profitable demand for such use and it must
return to the land the highest net return for the longest period of
time,
Based on the foregoing and factors appearing later, it is my opionion, the
highest and best use of the subject property is as a residential development
site.
Valuation: Taking all of the foregoing factors into consideration, it is my opinion that
the 35,14 Acres have an estimated fair market value as of August 31,.2003
of $904,000,
Employment in and compensation for making this appraisal are in no
manner contingent upon the value reported, and I certify that I have no
financial interest in the property appraised, present or contemplated, or in
any mortgage secured thereby, The appraiser has personally inspected the
property.
Analysis of Subject Ownership
Land offHogestown Road consists of35.14 acres, There has been no land
transfer in the last three years.
Market Data Approach
I have analyzed each sale in depth and given consideration to all these factors and
have attempted to make what I consider reasonable, subjective comparisons of the
properties to the subject property itself.
Including on the following pages are the details of the various market transactions
that were analyzed and were relied on in my market value estimate for the subject
property,
Considering 35,14 acres, 2 story stone and brick house with garage. Taking this
house and approximately 1,14 acres leaves 34 acres of land,
Assumptions and Limiting Conditions
I assume no responsibility for matters legal in character nor do I render any
opinion as to the title which is assumed to be good. All existing liens and encumbrances
have been disregarded and the property is appraised as though free and clear under
responsible ownership and competent management.
I believe to be reliable to information, identified in this report as bseing furnished
to me by others, but assume no responsibility for its accuracy.
Possession of this report, or a copy thereof, does not carry with it the right of
publication, nor may it be used for any purpose by any but the applicant, and in any
event, only with proper qualifications,
I have no present or contemplated interest in the property appraised
The distribution of the total valuation of this report between land and
improvements applies only under the existing program of utilization, The separate
valuations for land and building must not be used in conjunction with any other appraisal
and are invalid if so used.
I am not required to give testimony or to appear in court by reason of this
appraisal, with reference to the property in question, unless arrangements have been
previously made therefore.
This report has been made in conformity with the standards and rules of professional
ethics of the Appraisal Institute,
Unapparent Conditions:
I: It is assumes there are no hidden or unapparent conditions of the property,
subsoil or structures including: possible existence of dry rot, fungus, termites or other
vermin which might render it more or less valuable than otherwise comparable property.
No responsibility is assumed for such conditions nor for any engineering required to
discover such things.
2: A structural pest control report has not been obtained for this evaluation. If
such report would uncover necessary corrective work, which is normally performed at the
expense of the current owneT, this cost would be deducted from the estimated value.
3: Subsurface rights such as minerals, oil and gas deposits were not considered in
this report.
4: The appraiser has not been provided with a soil analysis offering evidence of
the structural ability of the subsurface for support of improvements. Upon physical
inspection, the appraiser did not notice physical indications that supporting strata would
be unsuitable for impTovements.
5: While the land surface has been inspected, as far as possible, by observations,
it was not possible to personally observe conditions beneath the soiL Therefore, no
representatives are made as to these matters. The value estimate is subject to any soil
conditions that would cause a loss in value.
Vacant Land
Market Data Approach
The Market Data Approach is defined by the American Institute of Real Estate
Appraisers in their publications Appraisal Terminology and Handbook as: "An appraisal
technique in which the Market Value estimate is predicated upon prices paid in actual
market transactions and current listings, the former fixing the lower limit of value in a
static or advancing market, and fixing the higheT limit of value in a declining market, and
the latter fixing the higher limit in any market. It is a process of correlation and analysis
of similar sold properties,"
In this search and analysis of the market for land vacant and available for
development on a unit basis, I attempted to gather what I consider relevant data so that
reasonable comparisons could be made with the subject property. In applying the
comparison process, the most widely used and most market oriented "unit of
comparison" is the sale price per acre. All comparable sales have been computed on this
basis.
The more important factors that have been weighed and which are consideTed to
affect the value ofthe subject in relation to the comparables analyzed include:
1: Location dissimilarities and the nature of surrounding development.
2: Availability of competing sites.
3: Physical features such as frontage, shape, depth, access, topography, size and
soil conditions,
4: Availability of utilities and site preparation costs,
5: Zoning and other restrictions.
6: The effect oftime on selling prices,
7: Any special motivations of the parties to the transactions which would include
any preference financing that would differentiate a sale from a typical market
transaction.
I have analyzed each sale in depth and given consideration to all of these factors
and have attempted to make what I consider reasonable, subjective comparisons of the
properties to the subject property itself.
Included on the following pages are the details of the various market transactions
that were analyzed and were relied on in my market value estimate for the subject
property,
.
Market Study - Comparable Sales
Unimproved Residential Acreage
This approach gives an indication of value by comparing recent sales of similar
properties, and making adjustments for time, location, physical and other differences,
Among the area sales reviewed were the following:
Comparable Sale #1
Grantor: SchlosseT Estate
Grantee: The Custer Company
Location: Hogestown and Woods Road, Silver Springs Township, Cumberland County
Tax Map Number: 38-07-0459-018
Dale of Sale: March 20, 2002
Utilities: All utilities available.
Land: 25.34 Acres
Zoning: R/l
Consideration: $505,000
Verification: Courthouse Records
Comparable Sale #2
Grantor: Rouch, Catherine Estate
Grantee: 581 Associates
Location: 5610 Creekview Road, Hampden Township, Cumberland County
Tax Map NumbeT: 10-17-1031-005
Date ofSak June, 1998
Deed Book/Page: 179/814
Utilities: Public water and sewer available.
Land: 89,52 Acres, per county tax mapping.
Zoning: R-S, Residential-Suburban; and
R-T, Residential-Towne
Consideration: $940,000
Unit Price: $10,500 per acre
Verification: Courthouse Records
Comparable Sale#3
GrantoT: Glaize Pennsylvannia Orchards, Inc,
Grantee: Lindewood, Inc.
Location: Route 114, Market Street, Upper Allen Township, Cumberland County
Tax Map Number: 42-10-1646-039
Date of Sale: May 2, 1997
Deed Book/Page: 156/1042
Utilities: All public
Land: 63.76 Acres
Zoning: Residential Rural
Consideration: $850,000
Unit Price: $13,331 per acre
Verification: Grantee and Courthouse Records
Comparable Sale #4
Grantor: Samuel M, Simmons, Jr.
Grantee: Kimjon, Inc.
Location: Trindle Road and Simmons Road, Monroe Township, Cumberland County
Tax Map Number: 22-09-539-36
Date of Sale: November 26, 1997
Deed Book/Page: 168/649
Utilities: Private septic and private well
Land: 29.665 Acres
Zoning: Agricultural
Consideration: $300,000
Unit Price: $10,113
Verification: Kimjon, Inc. and Courthouse Records
Market Study - Comparable Sales - Continued
',.'-
Sale Pricel Acre Utilities Location Physical Time Adj, Net Adjl Acre
1 19,929 +15% +05% +08% +03% $27,206
2 10,500 +08% 0% +15% +25% $15,540
3 13,331 +06% +10% +10% +28% $20,530
4 10,113 +20% +10% +15% +20% $16,687
The above grid shows adjustments of comparables to the subject property. The
last column is an indicator of value after adjustments.
Sales 1 and 3 are the most like the subject property considering the availability of public
water, sewer, electricity, gas, telephone, and TV cable along with the time factor and
location.
The market approach indicates a value of $20,000 per acre for the subject property.
The estimated market value for the 34 acre tract as of August 31, 2003 is
34 acres x $20,000 = $680,000.
Total value of the 34 acres plus the 2 story house and garage:
34 acres ofland $680,000
2 story house and 1.14 acres $224,000
Total Value $904,000
APPRAISAL OF
LOCATED AT:
6 Pifer Lane
Mechanicsburg, PA 17D55
FOR:
Pipher Estate
BORROWER:
AS OF:
August 31, 2003
BY:
Mark E. Hilbert
MARK E. HILBERT & ASSOCIATES
~
Address Mechanicsbur PA Med 'sbura. PA BOIllna Sonnas PA New Cumberland PA
Pro~nitv to Subject . 4 Milb_ ,./- 9 Miles+/- 8 Miles+/-
Sales Price $ $ 215000 ' $ 206000 . ! $ 219,900
Price/QossUv.1'lea $ 0,00 IZl $ 98,90 IZl $ 108.42 1Zl. $ 90,76 IZl '
Data and/or C.P.M.L C.P.M.L. C.P.M.L.
Verification Sources Insaectian Aaent Aaent Anent
VI'lUEAOJUSTh'ENfS DESCRIPTION DESCRIPTION 1'1,,,"'_'" DESCRIPTION. I ,,_'."'_, DESCRIPTION \ +(-)$ Adju$lmtnt
Sales (J' Financing 210 DOM 167 DaM 79 DaM ,
, Conventional , Conventional
Concessions VA , ' -
Date of Salemme 4/24/03 : 717/03 : 8/15/03 :
Location Suburban Suburban Suburban , Suburban ,
l.easeIl:i:Weesnn. Fee Simale Fee Simnle : Fee Simale : Fee Sim-;:;je :
~ 2 Acres 3.3 Acres+/- : -2600 2 Acres+/- , 0.42 Acres+/- , +3 200
, ,
View Averaae Averane , Averaae , Averaae
Desion and ADoesl 2 Storv I Good 2 Storv/Good : 2 Starv / Good : 2 Storv ISuaerior : -5000
ofCa1sln.di:<1 Stanel Brick Stone : Brick/Stone , Wood ,
, ,
Aoe 140 +/- 192 Years+/- , 164 Years+/- , 114 Years+/- ,
Condition Above Averaoe Above Averaae : Above Averaae : Above Averaoe :
Above Grade Tobl ' Bdmu ' Total' Bltms I ,... , Total' Barns' ,... : Tatal'Sm.' ,... ,
,... , ,
_ Room Count 5: 3: 2.00 7: 3: i.50' +i,OOO 8: 3: i.50' +1,000 7: 3: 2.50' -1,000
. Gf'oss livinn /Vea 2190SoH. 2174 SoH. , 1,900 SoH. , +5 800 2,423 So.Ft. : -4600
, ,
. Basement & Fl1ished Partial Partial , Full , None , +3,000
, ,
,
Rooms Below Gfade Unfinished Unfinished , Unfinished , None ,
: Functiooal Utilitv Averaae Averaae : Averaoe , Averane ,
, ,
HeatinofCoolina H. Water/ None Oil H.Air/None : EBB/None : +3 000 Gas H.Air/None :
. En_ Effidentltems Averaae Averaae , A veraae , Averane
GaraoefC.."ort 2 Car Garaoe Off SI. Parkinn , +4 000 2 Car Garane : Off SI. Parkina : +4 000
,
. Porch, Patio, Deck, Enc, Parch Covered Porch +1,000 Cov Parch,Deck , Parch, Patio ,
, , ,
Flreolace(s), etc. 2 Firenlaces Firenlace , +2 500 2 Firealaces , +5 000
, None
Fence, Pool etc. 480 FI. Hob Shoo None : +3 000 Summer Kitchen : Storaoe Buildina : +2 000
, ' :
, '
NetAdl.llotal\ X + - '$ 8900~$ 98OO:llii.:$ 6,600
Aqusled Sales Price
of Comoarable $ 223900 $ 215,800 $ 226 500
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, ate) See Attached Addendum.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data None None None None
SOLfce ftr poor sales N/A N/A N/A N/A
1Whi1 va'" of """",,,; Owners Deed C.P ,M.L /Caurt House C.P ,M,L (Court House C.P,M.L,lCaurt House
Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any IXicr'salesofsubject and oompcrables YIili1ln one ye;r of the date of apP"aisal:
The sales comaarison aooroach carries the most weioht in determina market value as it is based on historical infirmation and is not as
subiective as in the income annroach
INDICATED VALUE BY SALES COMPARISON APPROACH .. . .. .. $ 224,000
INDICATEDVALUEBYINCOMEAPPROACH'W'nnblble' Estim~ied'M.rleiR~~t'i"""'" r'j;A' iM;.;~R.;~~ltl~r';;' N/A ~1 0
This appraisal is made [R) "as is. 0 subject to the repars, attEJ'ations, inspections oc ooncitions 6sted bek:lw 0 subject to oorTlI1etion per plans and specilications.
CondItions of App-aisal: The annralser assumes a maretable title and that eouioment associated with the imnrovement is in workina order
Final Recondllation: I have certified that he/she concidered relevent comnetelive lislinas and/ or Contract afferinns in the oreformace of this
aaoraisai and in the trendina information reaorted in this section. If a trend is indicated i have attached an addendum oravlnQ
. comoetive listina / contracts offerinn data.
. 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 certificatkm, oontingent
and lin'iting conditions, and market value definition that ere stated in the attached Freddie ~ Fam4391Fannle Mae Fcrm 10046 (Revised 6193 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF Nov, 6, 2003
. (WHICHISTHEDATEOFINSPE~FF7DATEOFTHISREPORT)TOBE$ 224,000 .
. APPRAISER: B~ .' ~ SUPERVISORY APPRAISER {ONLY IF REQUIRED): DDld DDidNot
Sianature Signature
Name Mark E. art Name Inspect Property
Dale Reoort SiQned Date Reoort Sioned
State Certification # RL-000388-L State PA State certification # State
Or State License # Rb-029755A State PA Or State License # State
~llddieMll(;Fam70 6-93 PAGE 2 OF 2 Fal'll\ieMaeForm1004 6.93
,,_...,_~ ....... n.,_," n,_'" .......n .._._~ ...... _. "~... ..._.~_"<_.~" ."_
ADDENDUM
Borrower: File No.: 03-686M1S
Property Address: Case No.:
City: State: Zip:
Lender.
. .
Comments on Sales Comparison .
It is noted that comparables are further than the preferred 3 miles for suburban properties. This is due to the unique nature
of the subject being an aid fann house. Comparables provided are similar in age. Comparables 1 and 2 are considered
most similar, being old farm houses. Comparable 3 is a converted carriage house with superior design and extensive
landscaping.
The subject is over 30 years old, but has been modernized as necessary and is marketable In its present condition. The
effective age is significantly less than 30 years.
The property's heating, plumbing and electrical systems appear to be functioning properly to the best of the appraiser'S
knowledge and expertise.
i am unable to verify the insulation "R" factor. The presence of UREA-FORMALDEHYDE FOAM INSULATION could not be
detennined. If UFFI is present, the appraised market value may be adverseiy affected or voided. Any information about
insulation stated on the appraisai was provided by inspection, owner or agent and is assumed to be accurate.
The appraiser in not aware of the existence of Radon Gas and/or Radon Daughters and does not have the necessary
equipment to test for presence of same. If a future test shows unacceptable levels of Radon present, the appraised market
value may be adversely effected or voided.
Please be advised that in the market data analysis grid, bathrooms are adjusted for on the first line and gross living
areaJroom count are adjusted together as a single adjustment on the second line.
Sales are firm in the area; however many resales have FHANA and concession financing. These sales were used after
adjustments were considered.
All comparable sales are settled to the best of the appraiser's knowledge. Verification of settlement is with County and/or
Realtor.
Borrower/Client I File #
Property Address te PI P/7f!/f- ~ f}({J [: C2 S7,?-,40oSE';
Cit Count State Zi Code
. Lender
BUILDING SKETCH
3::'(
I
.RFf/ r?61!J fI1 (
, 8t:P 17 (
V J !?60fl4.
i:i
8'"(
~ fM:;,
FbR'&!7 7J'
ffi
~o' B~v J..; (/ nIt:; I~ pO (
If" I9c1J '11 l<OO rrt
.
J.'('
:J '1 (
" , "II,~}
,-CSl) i\"'\\,'! .'
~, ~i:' \\__...; \ J (
" 0']/11_" . " 'ri'"
' I l.:s.. ~ 'I' (f, Ii' ."\, "'lfl/ \ ~I_"
"'-c" , '1-\ ' ,. - '", k '\', 'J "
~.\ -""., ,;, II .,.,.-1, ",'v
I _ ": 'I', ,",. :,'
" I . "'O\j l!:d~ .;:, I /
,,' " ,.. "-", '.. -
1[' 'I I" ,^' \ \ It, , '" 1\ _ ", )' ,__ _,
:,,'. - II ,'" 'II :i"':'l'''''i,'~';!I'>~' 11'1 l IIIJ-It .,,11,) r l' \,' _ __ _____
" . '., H., _ ""', . ,,, , _
~'-" ,~\ '\ '; )\' ~\\ ~'\.., ~ ~lrS\", I' \,' . \ "'t' ""'-~-5 .__ \.,'
.. .., 1'=;" '" c' 0" 8')'1\y, ','" ~ --,__,' _, ;'_ __ _ I'.
-. - I, ". '\ '- ~ II ~~l7r1<\\, i ,1\1' , " ,
= , 'J" . , -,-,,- 'I'J11' ''to" :!I' 1\/\\\ '''''O' ~'_'_ I ", "I' 1
",,,,,,- - '--- -.' --~, ' Ilgl-::.,' tlt1f(\1\ :I)....V'/ ~- \\ I 1'1
-- -"1\N,' I ,,'ti,,', 1',<"', \1\\I;e \\ Ie- ,,", -'- I
\(t. - '!' '" ",i,,~ ",IIJ.""iIi7:' ,\",-,;",~ 'II'"~ ell \
Y'\, "Wo ~ "-- tl> ~') :a~.I, i1 ! ,'':h\\:<;~:~i: ~nL ,lIe ,1_ ;~~,~
' " ',~ , In I ,I 0"." , ',~
--! "'1\ ~~I\\ - ~~ '1, l\--~~ ~r, ,d l~ ,-, i I \':'.I!1l?"!I"'~ I \~:~ \, ~" '\'~ :
:L_, m \)\ ;- \, , , ~ if;--"'---r: ~ _ '., ,0_' _, '\ "'" _ ,
~ ; ',. " "', """ II .. --;~'~"\",.. ""'"11 "1- __II ,
T. :-:'[ ",'; "'.+.---:41'\ -~:~ ",-tE-cJl/,!L,) -:';'71jd~Jahl~If'~':~.fI-'\::'\_':"/I\!I.'~I~t )/;_". 1:..". -:1) -, \ -fill
_.Ji..---tl.,~ -'\, 1., :J~, aJ'- _,U""". I\\","'''''~'",_ iI" \ ) .~
"" -o'H'~ """ \ " , IS" 'W ""~""'''~'''Al 2,"'0"'" "~T"'\'''!' __"-..,"" \
c;}J-:'~-"'l -;'1 "JLe" , "', '. , -'p, ~'" " ,,,.. L '''" I
' '. -.. \-..~- \'~ \ .,:-.::..,( g I."..:J~ . ~ii/ l, ~"~\'~"';1r.\\\\ let -:~1~ 0034::::. \
", 1 I \ --". _.\1 ." \J"" '... I l . ,
-- " - - \ ", ~ ~ '~'.o 'I _0 , " ", """1 , _, I' ,
" :,., I '- " , ,,_. "'" .. \,. :h,~: ,.." . ,
,-I "1'>'1' :'-;;;:~'-n \~' "'''.. '"'!!h-,, ":/'~ ;\"':'~!."I/f\\\\ '"",~r (\' '.! ,,11 ~'f I \:
1 (\~\ I' ',,,. "~,." "'. '..'. ~,,"' ", ." II '" "
fJ,' ,,~ ':"',- '-,Qat._>', "'~"""'--'" -~':-\i -\P'~,'lli'"o 1:,/\ \l'~("~\~ ',;-_(, "~
',,,. - -""" -"" '-,'-, '" , ". co "
,;. 1;- -;'=: "_.:::,r.r'=-~I'I~r1I':'" "j)' ..."~1~~--~F-' -'i-,-:.,-,\~ ~)\l'~~"" ,g.. '\ Y',\S 'Ii>;, '..
~t, \<"Oo.:r-<;2 '''I .., -~ '~,,--,~ tJl'/>iCI - '\t,\,_., ">';"__"_j __< \\1 v.,~,
." c '~U' :- '1,', ~-.! (~l\ I f~C, \':::,,\.\ :." '11 "'_~=--,,_-===--__ _, I ~;)\.'
. 0 '"",,_ <" "', """"'"'" \.
\1 \' i ~ ~ct.,;. U\;;'V'\' 'f~-" 11'i.~ 1/.- II, 1 IA 1\"'\'iL'h.J'l""c :"r/-{'~\_ _2:/
"" 2 '~\,.. "'~, ,., '" --, \" "'~I~, ,.. . ~'\ C> \
".0 , " '" I .' '" ~, _ -"0." ",', ',,, /,
' -" ", ." L.. < _ _, " "'." , . ",
''';;''"~;''')'' I ~il#..,~,==\\,__/\\ !bs~"'-"'""lI'll ,~I;/ Jf~~,.. "/-,. ~V")~!'I'"
I. .-,.... I' .....1 "" .:>"2037 ',L U -~'".. if,j' .1" /, 1_' N ~: )' ~ C / '
,W[ \"\ " - - I'~ ". -l\_.=.:: --=:!-r 1\ \/ -)j ~. , , ", ,! \ _\ ~ '~ I I, ~_) d"
' . -- "-- - --, ,,,, "c, .
I ' -~-!' ",-,Co '''' " " "'" ," , '-0 '. 81" "c. ~, 1\ ...., _ /1(:';
-'''" '. h.." '., -... __ _ " .
--~--~(Ti~iN! ~ "'~il"'"., ,tJ~~~j "'_>i"\~~:j~ S, IL"'=~I""'~""~I. I~~ \ ~
J ''''I ,-" -- ':v, 81{ ,-,'"'' ".--,~, Ie ''''_/' "..~,-,. "........ /' '," I
-, \, ._q'A _ II l"., >""'" "".. ,e", ,__
- WK~ 'I::, ~~", .1, ~ .i..r-,u '\ I" ;::. _ 'g 1'fJ)'- -0\1 '.... r = " ';1'-< ,
" -l~'~/, .f~\'_"C-',';""~ i ~'l>1J' 0" !~, .:. ~l~-{I':j.::('~ ":~\_'~'f'./ 1'[' ~'" \
',II", I:,", cc "', '! ~E, ~ '__,,, ~;.l ~,
",' '. /1" ", · : ( , ,~ ,",~ ,<:1> ' "~-'!d.oe ,"_ '-'" ,
. . " ... "". ,!>' "- '" "h." II <, , c,,,>_, ~
\\ \=\~~- ~;I-'~~C'" )~i~S.;J c- ~~l~tU\~~,~- 'J~.'" ,f'~"'~';~});f~'))~( ';;\ >~n" !7(">,, I':
I ,~~. -" if/, 'I>, "-'I' .. '0' ",~, '""~"',;\ ~ ~~~'" I"
' 1_, "".. '" ",'" N ""' ~.' " '__,. '__. .. .; ",," <~"" ,
Ie-" """ '-'''''' , . ',~ ~,414 '" X",. . "V,"."
' '''..' . , , " 'I" \.,"" ." ,!"" " .;. ',' , .", ",,- ,_,
8'fC,"",;""/~ \" - \\',1,""",." '\' "I ;'\-"'1 '";""1 I
~jl ~Jrl " "",- --':;::';d~~I- '-;I ,fIt}, ,<9- I" ': " '" , It. ,".. ~'\~7n( ",,11' .1 \
,I "'., . -I.'" ",-- L\IV " ,.-",., r,~l,', , Co " "_, "",,-- '\'0 g I' ,
'="[<:1>''-=-.,>;;", ~~~ -"".!'--\'~"3"",,,'" i~'~",,,, :.1 \~'" (,' II ~
!: ---'\~~ 'l,-' It - ---.:.- f '",~ I' ',' '., I' " 1= ___I _
' ,", "" ". --.-. 'I.. __', _'.' "__ "__,
1\ ,.\ ---'~ 100:>=-..:- \ .::;, c, 'i- ",I "-"e '\" '~I (oe) ,
l""-"~I"-J'.-=I>: ',I " '~',I_, ""_ _'"~~ ,;./ ,
-'-", ." ;"" """,- , ,-- .. --- '1' '..
'J\0': .1\"OlIL!!E02', "~~--l'f~_<1.~"tr. 1'",,;"- ", ,J~,,-. '~'1i\\~~\.;i~"I~ ,_
' ,,,' -, '. " "-, '" ~....." ".." "\
~' ,I, ---- ~-~" -~' , ~,"',T'-20;ia,\,., ?,-, '.e;: I~_~,_" .
-- - ~"',-. , -, . -".) , ,.-" " '''_.~' - \
''',' "I;n.,~", ;> <. O;;~ . ,,\' '..""", , '-_ __">. _'_~" '" ~_ ,
.. \1~~"I'''5'\J'V.N~ j. 'Oc.."UI';>_:"..~!t 'lbi';~'~'~'Cfi;",,\;,,~,",;O"I' i'll"~~I""~;=-'~\'i}
'-\~~:::l~ I:::' r- 1 '..r \>-~r" '''''_ ""'~~ . 'I" ;: .... .
' " .." -,' -'., '''').,- ,0 t .. U ,~ "..g "'--- & '" ~ ,~ \J
'00 '(;>.- c;:,1 Q ~\'..:.J\'---'JI /' ''"''''. Il- ~ " "'\~ " l\~ "'_ :Ja" \\
ZS;,-t"?J<':JS" <".." -\ ",' ",gIll'; ,," v' :: ~ '''<-'---I'''~'(1~9\''''\''-=..!....~'hIUl
0." , ~" c.' ,,_, -h" _u~. 0 '0 "H ""'.. ',,,,=,,
1 \,. 'l/,c.,,,,,;o,, .. J '=$"-1 ~r";u -%",\~,.. ",' 0<, ,-: , -=-_ ',j" 0' "- ~'Q;;",.?o.l /'
,", "\6':~, >.,""-'. .';0,,"',:3,\'..... ',~-J---,;-,J \ ~_,,';j ..,"~ """__" '
,', --' ;". '<V.. "" -'V" "'j . y, " "-"""
,. ',. -- "-""-- '"'''.''" ",,, -'"'W'L -. '" I", '" .
"t;: "c~~"r'('o ~_<bJs1".. t~f!'{.,~ "":.\1\''<;,,:::,,,41 ::-,;"",,,,,,' It "e fj ~~. .,;",,<,~ ' '\" \\
-' J.8o:'..,\ ,', :~ql '-'I' \~.' ii1-.~ s \ ' ,i, ~:.. ,f" ':C"" "I," E'=- '. ''I-'
Ng;~~;\.,'., I' (ijtf~\I' \ fl-t:..~,~ ~QJU1~ " ',n\'..~-, ~ 'no ".,r,:: If 1 ,o~ ':'>t;, ;.~,,\ S.
I' "",," " ~- ~.;g",,,, "00: .. ,"" ..,~.. __ _ -i' '~,." a", '"
:....S\)' \\.~" _0;;;:; ~~,:"t>- ',~,",., "C;, '\J,'\!. " I, "~'c""If1''',\ "~,J \\,~..~-"\\ ';~'
"-,~,~ "'J.C 'm ".... 0 ~ "'~O\_
5, ", ) \ ,0 ",/\,~ ~"" T@\\\ '''I',~" __ '~'I~\~": 'l'-))'--ii~ I\\~\
..' " ".- .- '" '".. "-- ,.>1 , ..>. "_!-. '. 0.1> 1 '''I
h'-1 ,!~o;~, ~'-:)fjj-"_J':/;I.<},:l1-~ '~:/:d\t:;... ';1:'" '("C-"~~~ff~r~",,\~\t%~"l~~ "
-" ,,', ,'" ---'I, '''l' ';' ,...", "I' .,~, _.' _, '", ""iJ":, _,,' ':~,' ..~",_,.,' \ ~
,- J - J .:.1. 11 I ~O.. ^- '" ''\1_1 1]' _, ,_ '" _ ("\,i:;'~,"". ____",.,:... ~<VI '_ . "'....
. ... ~ ,> t, _,' ''', " " , ~\ _', . '~-"~~ ".
I - -I ", ill' I, . ':." j.\I-["'''lt''~!--l'cJ!li,' ; -. .t, '[ ""~"_~~~"")~",~,,\_
'''. '" - ", . ",. '~,'e' , '>> , -. "_""
' ',C".i ':, .<1""11 i," ':~"i.~ .~":' __,'. ,0 'c..,j. :"~.
'-';-" 'I' - ~., -,I" ., ," _t':i' ,,-_/,_, __ Iii ____._ _" ,
' '''.~:,~, \_-, n. I -,', ",'~!'0" V g,' "~..; 'r ",":"", ;m ~ _' -.' . -11'''--.2 ..
.. 0'.. to "I ,,--- '''-''1',..' i"",.. '. . '~Jl,!. ,I., ~__
' ::\l's' '" ( J' ~ ,,1,~I','\ '\'0,:; 0' ,<,\Ii', "d~' '"I ,,, _, '/ ,
~.!. 21'i ---,0"'1,,;-., "k,": 'II,
'. , " "," 'I' ~ ,CY " V
':. \,:-- -~~:<f'; '~,f., ,
" 11\' )~', :'--\?l't .,' ' '. .
... ,1:'\". ',. '1
,',I ",' ,', ""':''''.' t.
\'.._"'+"'T""~.. ")
~P~;~:2~! ,,~\O ,\
'.,'.JI
Mar.. ..:. Hilbert & Associates
03-777M1
FileNo 03.777M1
uuuu INVOICE "'*****-**
File Number: 03~777Ml December 30, 2003
Charles E. Shields Esq.
6 Clouser Road
Mechanicsburg, PA 17055
Borrower : Geraldine Pipher Estate
Invoice # : 03-777Ml
Order Dale:
ReferenceJC ase # : OJ..777M1
PO Number:
Lot # 5 Holly Lane
Mechanlcsburg, PA. 17055
Appraisal $ 175.00
$
..............
Invoice T atal $ 175.00
State Safes Tax:@ $ 0.00
Deposit ($ )
Deposit ($ )
..............
Amount Due $ 175.00
Terms: Balance due upon receiptof invoice add15% fee if paid 30 Days past receipt.
Please Make Check Payable To:
Mark E. Hilbert & Associates
219 East Main Street
Mechanicsburg, PA 17055
Fed. 1.0. #: 23-2391423
TO INSURE PRPOER CREDIT
PLEASE RETURN A COpy OF THIS INVOICE WITH YOUR PAYMENT.
O3-n7Ml LJl ~PPRAISAL REPORT F"'''' 03-7
~Ad<iess Lot # 5 Hollv Lane Census Tract 118 LENDER Dl$CRETlI... ,,&USE
c;- Mechanicsbum C".ountv Cumberland Slate PA ZiDCode 17055 Sale Price $
L....ajn..emnIionAttached Plot Plan Dale
0MwJf~ Geraldine pjDher Estate Me Reference Mortgage Arrounl $
.. SalePrice$ FairM,Value Date of Sale PrQpertyRightsAppraised MJrtgageType
Loan ch"""'esh:onC8SSions 10 be -id.... sellerS NJA X Fee Sirrpla Discount POOls and Other Concessions
RE. TaxesS TaxYear HOA$IM:l. least10fd PaidbySelier $
LanderlOient Gerladine Pinher Estate Condonilium (HUDNA)
Pill S0t.rC8
LOCATION lkban X SuMan Rural NEIGHBORHOOOANALYSIS Good ""- foit Poor
BUILT UP DYer 75% X 25-75% Under 25% E"",IO}fnenIStabilty X
GROWTH RATE Rapid X Stable Slow Conwnience to E~loyment X
PROPERTY VALUES [naeasing X Stable Dedining Convenience 10 ShCflping X
DEMANDISUPPL Y Shortage X In Balance Over Supply Convenience to Sd100ls X
MARKEnNGTIME Under 3 Mls. X J.61Jos. 0ver6t.b. Adequacy of PublicTransportation X
. PRESENT LAND USE % LANDuseCHANGE PREDOMINANT .srGl:FAMLYHclJSIM; ReaeationFaciJllies X
. Singe Farrily ~ Not likely ~ OCCUPANCY PRICE AGE Adequacy of Faciities X I=-
~ 2..tFaniIy ~ Lkely X OMler ~ $(000) (yrs) Propel1yCOfTlIaUbilily X
.. MJIli-fanit;' ~ Inprocess Tenant ~Low New ProtectlontomDelrimentalCond. X
Comnerdal ~ To: Residential Vacant(Q.5%) X ~Hgh 150 Police&FrreProtection X
Industrial 00/, VacanI(over5%) Predorrinant Generaf Appell'llnce ofPrnperties X
Vacant 300 175- 30 AopealloMa1<et X
~te; Race or the racial composition of the neighborhood are not consltlered reliable appraisal factors. CO~NTSSubject nron~ ha~ood access to
shO~~n~ -Churches and Malor HinhWavs
!lmensions See Attached Plot Plan To~phy Basicallv Level
SileiWa 3.6501 Acres Comerlot N1A Size 3.6501 Acres
ZonIng aaslificalion Residential Zonng ~anC8 Yes Shape Rectannular
HIGH:ST & BEST USE: Present Use Residential Olher Use [)'ainage Annears Adonuate
UTILmes Public 01her SlTEIMPROVEMENTS Type PubJJc Private Vlaw Tvnrcal
8ectridty X Avalible Street Gravel X landscaping Tvnical
Gas X AvaJible CurbiGuller None Iliwway Gravel
Water X Avalible Sidewalk. None Apparent Easements None Noted
S51it:ry Sewer X Avalible Slreetlights None ~ FEMA Flood Hazard Yes" No
StcnnSewer None AI..... None fEM4."""""/ZmTe ~ C "42D370-March 3 92
Comments (Apparenl adverse easements, encroachments, special aSSessments, slide B"68$, etc,~ See Comments Below.
n. un"...lgnl" hu lI~jl.d Ih'" lIunl ..III ~f p'~p.rl/.. ..".11/..11I0' on" p,,,,I/'ull I" .ubJlol Ind hn e~""lhfld thl.. in tho nu,k.1 Inlly.i" Thl dl,eription incl""... d.III'
djulln..,. ..lIleling ",.rklt '..etlon 10 Iho.. 111"," 01 .Ignifleanl ...i.llo. bill.... Ih ""b!let an" CO"'P"flbll propl'Ii.., If I ,ignlflc..t III'" in Ihl co",~...bl. pr.~..ty II ,u~ori.r
to. or "'0'" fuo..blllhln. Ih. Iubjlel ~,opltty.. mlnul (.) IdJult",nlll m."', Ib~1 t."uelng thl indle.lld ..I~I of 'ubjlet: il I .ignillt,nllllln in Ihl o.mp'rlbl' i, inl..IO' I.
0' Jill fn,robll Ihan. lh Iwbjlet OroOltly. I ~lul{.) ""I..Im.nlll ""dl. Ih.. Ine'"llng Ihllndlcllldvolulo!thllwbjlot
ITEM SUBJECT COrvPARABlE 00.1 COM='ARABlENO.2 COWlARABLE 00. 3
lot '# 5 Holly Lan lot #2 Willow lake Dr. 148 Millers Gap Road lot # 17 Willow Lake Drive
Adttess Mechanlcsbura Carlisle PA Enola PA. Carlisle, PA
PW;rmm.!OSUm.ri 2.~ 2 Miles 2.5 Miles
Sales Price $ FairM.Value j>j~:l';:::'~$ 120000 $ 70000"" .:'.'-: $ 95,000
Pria>J $ "$ $ 'L'II $ "
Oata Solrt8 InsDection C.P.M.L. C.P.ML C.P.M.l.
. VAlUEAOJUSThENTS ~ CESCRIPTlON +{.)lJ.dI.'- DESCRIPTION I +{.}$~ DESCRIPTlON +(.)I,I,ljum.:(
. Sales~F,"ardng DOM 72 DOM 100 OOM 2
, Coocessbns Conventional Conventional Conventional
DatltotSaletrme N1A Og.27~D3 : 06-23~03 : 09.27.03
. loc:allon Fair II See Com Good -20000 Good .20000 Good .20000
SileNiew 3.65 Acres 4.2 Acres : .18000 2.5 Acres : +30000 3.52 Acres :
Water/Semer Public Private : +5000 Private : +5000 Private : +5,000
. Gas Public None None None
Elec. & Cable Public Public : Public ; PubUc :
Road Access ~PUbhC Public Public: Public :
NetM,IW21l ... . '$ 33000 X... I. '$ .15,000 ... fXl; '$ .15000
,""""'v.... ..~.. 3lN
olS"'od $ 87000 $ 55 oooih.;/;ri:iIl $ 80000
Comments of Sales CoIl1p<l1son Sub eel n~ has a driveway down the middle of the Lot and a sewer DumDinn station at the one endof
the lot. Makes this lot not verv desirable.
Comments and Conditions of Appraisal: The ann raiser assumes a Marketable title.
Final Reconcifiation: The market aDDroach is a aood Indicator of fair market value.
.
I (WE) ESnMAlElliE MARKETVALUE, AS DEFtNED, OFTHESUBJECT PROI'ERTY AS OF December 30, 2003 to be $ 84 000
. I (W~) certify: lhatto the best of my ~Ut) knowl!tdge and belief, the facts and data USltd herein are true and correct; that I (we) personally inspected the subject pr~ty
, and Inspected allcomparablesal~~in~e~d that I (we) have 00 undisdosedfntertlst,presentorprospectiw therein.
Appraisll!(s) ~#./~ "4P? Review Appraiser DOid o Did Not
~ tdapplicable) Inspect Property
~londF<nn-MARK E. HILBERT & _UII1g_tIgilII__,eoa,23U"2f_~
ASSOCIATES Mark E. Hilbert and Assoc.
.R,
)
"
, 1'1
'o\~" ," ,\(-~,."(~>,/),, )
, . ,_ , 1619 ~\ii;~~.i.';r-~J~I /
-I '~I:t'I'lr:I""!.".'Jj064
'\0 \' "','~ ~~{..., -"','1.023
~fI I I f:; 4J~i" ;-::;P,017 'I
.,GO 'I' i 0035 '; '''I;-.,i:~' i
,.. '.\ '.', Co I I \ ,II IJJjl.P}, ~,'II s ~1'b\7
f,.. ....t. \\ Il~ ;L" ' 0944' \1'- "-'1', ' "., -"
::#'i~".,"\ .\"",,,,~,"'II~ 1/""", ~'b 11/11",; 119" ",-,llt 00" .
\ ~ II \~!!I"\ \ I I) 1- le;ro ';1" II '. S' IL' 0944 ',',: 094'1
Ir'.. ~ I' fl0944\'O"lll~i/ boa19J'1f;:-::jjr ",\,. ,.1018
rP~"~; ,,_1.1'0' '1 ~ 'yL" 1,''' \ ~'\\rl,'};k~~~'::=-':- ,,--.: - ,L~lr,II"f '''''..
__' ,_, 'l'~ /'-,-/1"'\ r;' I', ('I:' \\' \,,,: "" i \"- ,,,'0, (""'" '.'.1
I 1 t , I 'IV \ 803l ,~1 l I , <) ;> ... '-, :'..
1-1\-'l\ J li:f 'I"J:'P ( ill i\'.::., ~\I t f ". \1 \.tf. ILf' .- ,-,,(if' I'/p,,() '%. ,I' l\ ".,.'j,
'ilclll, ~ . ,8', -I" b Ie;, V-' " "" 1 'I', 'll \~ I'~ ",),,1,""', " "'" "'\:. ,iff'
;.:1- ~\'" '\~ II' I ',111 \~1~_:r--:\ P~'NII~I(:.~r'f'If\\'\\"'\'l~ II,%\,~III r.".-,,~,+,\,_~_.
''( '\I; >". ~ %' 11111", ,r;;;- ." ' ('jJ'l-, I, ..,.',.. ....: \
)' " _,' ::J.\' 't If", \ ~',' 7. /' ;.> "'1 f. '\ \ \ \ u..T,{' ;.,[,1 '.: ":.;
l 71, I I _. __ _ \~"' 'i '3 " -"
"',,, _ _,,' I ~~,~"I .>>}, ,,'~4\C \\'t" \"I~' 'lj,~/I""'''''''!h_"''" ",' v. "" I ' ·
"'" '.,~'- j! ~ f " ,. ~ ~ \ , ~':>! '\ ~" W. <I \"'"~ - 7 11.\ ,
, II_'~, "'1-/ ~f' 'l~ '802!I~ ~\ t! I" \~,- [j ~ lid. I
, U, r _, 8002.)<)<' '"'.'1" j\ ,J, ;.. ,II \ - \1.- - l1l" \ "-i~ 1,'" ,
, ,,_ \ ," ~ U ' .. ~,\ I I- .
, ,"\'I. ~\I': ,> ", ,~ '\: -0011 ~II' 11- ,\I,!' f' I ,,1'1'" I ,"
rf'i-',". ',\'#,C', I,,\~,~, .", ,,- -",."j"""" '''I, ~ J'
'14029'~ .\ ,'b, _ II ~ .. " '3,-' - I '
, 'I ,.,.'" ,#,.:J ,'_ II' '" -~ \ '-' 'p \ "I 'IJo to1~ \I'I'lJJI.,. ~
\-" "I' '1\' I I' ,... {,d I ' "
. \ I ';:Ii ~\.t" IL, I, I _._ ~ "b 1\ U-;' \~" <"" r: <b II "1"' II , q,
_=-.:-,8, .' \ _ ~ '[ ~ 11 I' ?,~'\<b~:~,"- 2b~41 <?, ''"' 1 <b 20\1 't
flf'I~,<!",:,..,g", --\i\:' ,1 I " "',, ,",,,,,,,~,'- """""" ,,,,,,-' '".:- ."'" t
",;.w..!!1~,1 I'''" "",,' ,1:1i\\ i~a." \,.-" >"'I"!~~ 'i9%li'rG" '\."r~()r1' B001" 1 ,.>
\ ~")--"'_4-'."""l.,iI~U J,,~ \ f('11", I ""l'\\~ '\ _~_~,)1, :"'1" '\ r', ,,,, ~ ~
'I1,oli,)""'r,;q;'..... iT ~-', ,'ll,l/l" "".tll \''''''11' -" l1>"...-~~' "''''--''\\w;' "I'\! "'I dl"'I/<b" ' ~
02sA- M :>., l' I ,\0, __ __'I, 1,1 1\ __ -"',' "1 l ,.. ~, ',' ,", 1 I
"''J.''J.18l \"'lIlO5 1~1 ,-- "it'!W,.JI $ t'I/" "I\J~~.,\-"\--~~~- - I
/'9 ~ I ,'''', I ~ _II . ",IU ~ ':,> ^' ' 13;':"\ \ - ;:;; .. I
~.... ./J....." tn, I 1__ "?, \ Ir~ r-. 'i '., r::- ,I I!I~I, Nil "
~~-=~''l\ \,;-'11) III _""lI;~LII~II'o ,,\\\1/,1\11\ 1,1' "1Iilll!1.'n2010 .& 'b.>.-'
"IfL1 i''''j)80~3 006' :\\' ,\> - ~ '':... [>'''') II JSI),\1~ ,.-1 i'! 1'_\'<:>' \ l!j81',5' Ie ,I'
1- ,II j\ >~ -1- /2Oo.r" _ 1";< j~%11 Ii ~\,~ <bl, ',,1 <:I
) __ J.-- 1 ,I ~" "'-I / I ,::- 11 ~ I I c ve ~ !.-I BOOS 1
, '11;"",,'" \\% ~ L JII"'~ -\ ,)~-,,,,, 'I ~ "~\I'''"'''''''''''''''' \0 ,,' ,;",
~!ll" \\,n! '-~- 11 'Vl'., 1'61"'< 1[' ;1; t~ I 'l "'-';'
, I ' '.-,1, II . "'1--:'I'~1~1' "II'" ["<'"1- Y"'..'~,
'0; 'II ,) 'I" 2' \ \li" ,\ - "
8_,1 ",< '" I g , '\ '"..,,~ _ '-" -'l "" ,,"",' 'loi,'
, ....E::... _n"".rd:il/~ J~<\I r ',\l-/' /~,"IJ.r.=;,I"1 h \\ If.~71l' _ '~' ,. ,)'i,; I, - _I, ....
r \), \ \ :1~\1 ,. \I " ., I'Ll ti'-' ~ E",,-,"'~. ~'I'I!I -.--J~;!l.,~. _';'\2004 I'
" !'I.lfjll"<n'1f3"1 1:,;i;-._~'t;~tllj.\J,,/l!J~" i2OTOi~").,- -7-;~,-lllf)'J .,)1, :M1l I 2026.
\\. ... I~" .< > If _ !C--~ ~ "-.' ,,~^ (t1-'''I'~/lI<;.Jlill''
,\ ,_ __ r -T~ l'lIll'l'!f"IWlrif~ ..r~\l,W'iJll"'.-- I( .'1/2OOB-:'> I"> ,\ - ~ -.I~ '"
_ _. 1/" - !11""1,J1' I~~~] U/" ~-'I<lI(J! ,;~ '3 ";;1 ~ ~
4) \\"-~ 11 .L. I~!~ IL. i-. ::'--=.'_ JlII\~.1-1~- --,.liiJn.'W"'fln:~-<~....~\., 1i1,;~iI,li /16,8
_ ..1 ,'-=c. ,,'-.'.-.' ,. ...-'-, I,; II l-- "1)7. 1141\1 '"
1 -:." If ~r~hllll'l /It, l /'~I ,f! .-- ., --\"",
'.!I ::--t \. ,,\ ;1~I("l \\~!.5,,' /.J,S 1'1 11 )c=. ',:
(,I" /- , I';~~=-- ''--I r~~' "Y'" \ ,". J0'
;.~'/ "t~t-{:r;:';"i",,'L_~~!Jd" rUWi/flI;-,~ \:, ".' '.' \lJ)Jt~\
'fl""" 1'; '{J 1/1,c'rj-~-iI,l (~-I) I I
~ " ], f! II' ;"1',/ - , /.>.. ,-
\,JIJ': ~Un"" ~';;,;~~\''''~\
1\ ,)' ;~"'nc\ ',', c'l
, "ur "L'~ ~ ,~.~'
{:;"'IIA'65Sr"~" I '~'.'
\ ,.rM {'iff 'j'
\ . ",~ ' ,'I.
",.t;'. "I.,
'.ii//o ~";,, 1'1 :
, \:,//' .,':' i _~_ ':11
H,,",\IH"~ "\ \"1 I
'N ~,n1.."J1'.sr. './ ,h' /,' J[
'. 1:f!.tlunkl:5""."'~t.!'.<i."I'I. 1,\ "(
I",,, II 1-. ..
\,,>~~ r:" '-- ' 'rr- '\ "
,r-:~ I ~~ ,,,..,,,, I' ",
~ \t!~;: ~\,,;I'fi1 \) (9,j')
" " \/ '~'l ..",
I~"'~'" "....'!. '..../~
I}'I" I r /.\ '
:' c '''1J'\'' ,~':'~""'-i'
".,j ,I':.I.'.,.,,\\\! I';.""'....
.~. ,,\./'11
/ "0;: I' r;\ 1 3.'"
il\~ , Q ,H/",iC.;1(
1 >~~\~:\~-~!l~f ,i. ,
/:.ji . ~L/j.) \~ ~,rrDII
"8\ ..'
~" ~J .-.~''(/''
A
RED NUMBERS REPRESENT THE NEW STATE ROUTe(SF
'i d
CtijM[~[~W\!t .f\i;\~J
~. ~.: 1=.1 ,\ F'~ c; 1 , c',
nEt~lf'l!!~'ftIN\f!"IL\:i "~'i~.'/\!'~ :;\'lr..~.~i1
Ii-.! (",!':-'"
"', 'f 1.'.:1'"':',11 n'WII ',I
"::rY::I1/',1 1.1li.~1 r,t".", "I';,; i ii
~ ~
~
a
.66'€<;S
.--------------------------------------.
\ """"'~-" \, ~
~
, ,
, \
"-,
,
, .- ~i.i\"',"
\ ~ ~~,~
, "- ~ u: ..,
11)'& '%\
, , '" .~ '- ""
\ 2 ~1ii \ ~
' ~ .. , '"
"'\'; e. ~. .. y,
"'~~,~ It) ~ 8. 'Il d"cJj.
'''0- l- 1> .~. -'If
'\ " '0 . ..'>:;.
'" ':J ., ~
o ~ ,
v. "- %. /" .
.. .. ") " > g
~ ';; . .' - 'iil <0'. .
'" \ ~ ,,~/ ." ~n.a
~ " ; .<f.' -.jI , _. It ~ )l: \- :;;
\ \'\'5 #..-(...",. <" 7~~ga: I!,
, ~'" '6 g~ '"'
' ~~' r3"" ~ ~
"- . ., <I' '" ~
.. 4 -#'~ ~
' -( '"'
\... b Z
;; a
~~
~
~
'"
~
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: FHe No.: 03-777Ml
Prooertv AddresS: Lot # 5 Holly Lane Case No.: 03-777M1
City: MechanicsburQ State: PA Zip: 1i
Lender: Gerladlne Pi her Estate
~
Xl' FRONT VIEW OF
...~ SUBJECT PROPERTY
~
Appraised Date: December 30, 2003
Appraised Value: $ 84,000
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
MULTI-PURPOSE SUPPLEMENTAL ADDENDUM n,-777M1
FOR FE ALLY RELATED TRANSACTIONS (FIRREA) 777M1
BorrowerlClienl
Property Adltess Lo.t # 5 Hollv Lane
Cltv Mechanicsburo County Cumbertand Slate PA Zip Code 17055
lender Gerladlne Pipher Estate
This Multi.Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a con-
venient way to comply with the current appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC),
the Office of the Comptroller of Currency (OCe), The Office of Thrift Supervision (OTS), the Resolution Trust Corporation (RTG)
and the Federal Reserve.
This Multl.Purpos. Supplemental Addendum Is for use with any appraisal. Only those
.f.tement. whIch have belln checked by the appraiser apply to the property being appralsad.
W The appraisal 1$ lIased on the information gathered by the apprai:sar from public r.cords, other identified sources, inspection of the
subject property and neighborhood, and selBction of comparable sales withill fhe subject market area, The original source of the com-
parables is showlI in Ihe Data Source section of the market grid alollg with the source of confirmation, if available. The original source
is presellted first. The sources and data are consJdered reHable. When cOllflicting information was provided, the source deemed most
reJiable has be'ell used. Data believed to be unrBliable W8$ not Included In the report nor used as a basis for the value cOllclusion,
C The Reproduction Cost is based on
supplemented by Ihe appraiser's knowledge of the local market.
D Physical depreclatiolt is based on the estimated effecti\l& age of the subject property. Functional andlor external depreciation, if
present, is specifically addressed in the appraisal report or other addenda, In estimating the site value, the appraiser has relied on
personal knowledge of the local market. Thill knowledge is based on prior andJorcurrent analysis of site sales and/or abstraction of site
values from sales of improved properties.
D The SUbject prOperly is located in an area of primarily owner-occupied single family residences and the Income Approach is not consi.
dered to be meaningful. For this reason, tll8lnCGms App10ach was 1101 used.
D The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are basQd on the appraiser's knowledge 01 the
subject lI'tarlcet area, The renlal knowledge Is. based on prior and/or current rental tate surveys of residential properties, The Gross Renl
Multiplier is based on prior andlorcurrent analysis ofptices and market rates for res identlalproperties,
DFor income producing properties, actual rents, vacanciesande xpenseshavebeenreportedandanaly~ed.TheYhavebeellusedtopro-
jeet future rents, vacancies and expenses.
II SUBJECT PROPERTY OFFERING INFORMA nON
According to Plot Plan the sublect property
~..~-_.~._~- _. "--
Js currently offered for sale for $
was offer'ed for sale lWthfn the past _ moJl!hsor _ years
Otrenng Itlfurmabon was considered In the tiMI reooncillallon of value
Offenng lfIformallofl was not consldMed In lI1elinal reconcillebon 01 value
Offenng Information was not available. The reasons for una\lallablllty and the steps taken by the appraiser are explamed later III
thllladdendum.
SALES HISTORY OF SUBJECT PROPERTY
According to Plot Plan lhesubjectproperly;
B h.. ".l....".f~...;"th.p." - ",,"th'a 1L- Y''''.
hastransferredinll1epast _ monthsor _ years.
AU ptior sales which have occurred In the past _ monthsor _ yearsatlllistedbelowandreconciledlolhe
a isedvalue,eilherinthebod oflhereortorinthaddenda.
Date SalesPrlc:e Document' Seiler Buyer
. FEMA FLOOD HAZARD DATA
8 Subject property Is not loealed In a FEMA SlJeCial Flood Hazard Area.
Sub 'ect Is /OClIted in a FEMA S 'a1 Flood Hazard Area.
Zone FEMA Ma IPllnel. Ma Date Name of Communi
" C " 420370 03-3-1992 Silver Springs Township
The community doe. not pllrtfelpate in the National Flood Insurance Program
X The convnunily doe. partlclpllte in the National Aooq Insurance Program,
If is covered by II r.gular program.
Illscoveredb anemer ene ram,
FW.701ol FQfms & Wormslne., 315 WllllrHIY A~. H_ Hw.n, CT OeS11 AU RIghts R...er....ll
~...19l12 ThIr__...."..........arIlloN:l~~.,.....IBOo)23U7:u
03.777M1
n1-777M1
~The subject properly is currently not under contract.
The contract and/or escrow instructions were not available for revlew. The unavaiJablJHy of the contract is explained later in the
addenda section,
Dne contract and/or escrow instructJons were reviewed. The following summarizes tile contract:
Contract Date Amendment Date Contract Price Seller
Brite contract indicat8d fhal pe/sonal property w.s not Included in IlIe sale,
The contract indicated that personal property wu Included. II consisted of
Estimated contributory value is S
~p",,~., ,,,,,,ty wu not '"clud.d '" tho ",,' "',, .."m"..
Personal property wu Included in Ihe final value estimate,
Tile contract Indicated no financing concession. or other incent/vlts.
The contract indicated the following conce.slons or Incentives:
011 concessions or Inc.ntives elllsl, tile com parables were checked for similar concessions and appropriate adjustments wera made, if
applicable, so that the final value conclusion Is in compliance willi the Market Value defined herein.
The Appraisercertffies and agrees that:
(1) Their analyses, opinions and conclusions were developed, and this report was prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice {"US PAP"), and ill accordance with the regUlations developed by the lender's federal Regulatory
Agency as required by FIRREA, except that the Departure Provisions of the USPAP do 1I0! apply,
(2) Their compensation is flOt contingent upon the reporting of predetermin$d value or direcHolI in value that favors the cause of lhe
cliellt. the amount of the value estimate, the allainment of a stipulated resull, or the occurrence ofa subseqUl~nt event.
(3) This appraisal assigllment was not bued on the requested minimum valuation, a specifiC valuation, or the approval of a loan,
EI ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS
The value estimated is based on the assumption Ihalthe property is nol negatively affected by the existellce of hazardous substances or
detrimental environmental conditlOlls unless otherwise stated ill this report. The appraiser is not an expert in the idelltificatlon of
hazardous substances or detrimental enyironmental condllfons, The appraisar's routine inspection of and inquiries about the subject
property did not deyelop any information that indicated any apparent Significant hazardous substancas or detrimental environmental
conditions whicll would affect the property negatively unless otherwise staleQ ill this report. II is possible that tests and inspections mad!!
by a qualifIed hazardous substance and enYlronmental expert would revul the existence of hazardous substances or dettimelltal
envirollmental conditions on or around the property that would lIegalively affect its value.
. ADDITIONAL COMMENTS
December 30, 2003
Phone #( 717 ) 766-4988
Residential Certification Certification # RL-000388-L Tax iD # 23..2391423
. CO-SIGNING APPRAISER'S CERTIFICATION
One co-signing appraiser has personally Inspected the sublect property, both inside and out, and has made a:n exterior inspection of an
comparable sales listed In the report. TIle report was prepared by the appraiser under direct supervision of the co-siglling appraiser.
The co-signing app/a/ser accepls responsibility for the contents oflhe report inclUding the value conclusions and the limiting condi-
tions, and cOllfitms that the certlficaliollS apply fully to the co-signing ap praiser
~Tha ""1,"1,, 'pp"I,., hu "0' p"'on'"y In.p"..d tho i,t"'" of tho "';'" ''''party ,,',
haa not Inspeeted the exterior of tha subject property and all comparable sales listed in the report.
haa Inspected the exterior of the subject property and all comparable sales listed in the report.
The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts
responsibility for the contents 01 the report, illcludlng the value conclusions and the limIting condllfons, and confirms that Ihe
c&rtifJcations apply fully to the co-signing appraiser vtllh Ihe elIception of the certification regarding physical Inspections. The above
describes a level of inspection performed by the co.slgning appraiser.
DThe co-signing appraiser's leYel of Inspection, involvement in tile appraisal process alld certification are covered etsewllere in the
addenda sectioll of this appraisaL
. CO-SIGNING APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Appraiser's Signature DTrainee o Review Dother
Appraiser's Name (prilll) o Certified Residential 88 .
Stale DUcense Ucertiflcation,
FW;lOM Form. & Worm. Inc., 315 Whit..., A....""w H_n, CT 08511 All RIght. R...rnd
o.c.neorl9i2 m.IamI__"*'"'"*'......cI_IIIl>kF_.,-.(8OO)Z)4.l!1V
j-777M1
FileNo, 113~777M1
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seiler to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal
consideration for the property sold unaffected by special or creative financing or sales concessions. granted by anyone associated with the
sale.
.Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the
seller pays ,these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property
by comparisons to financing terms offered by a third party institutional lender that is not already Involved in the property or transaction, Any
adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment should apfl'oxlmate the markefs reaction to the financing or concessions based on the Ap~aiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the
following conditions:
1, The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to It. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the tltte, The property is ap~aised
on the basis of it 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 is
included only to assist the reader of the report in visualizing the property and understanding the ap~aiser's determination of Its size.
3. The appraj~er has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data
sources) and has noted in the appraisal report whether the subject site is located In an identified Special Flood Hazard Area, Because the
appraiser is not a surveyor, he or she makes no guarantees, express or Implied, regarding this determination.
4, The appraiser will not give testimony or appear in court because he or she made an appraisal of the property In question, unless specific
arrangements to do so have been made beforehand.
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 value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous
wastes, toxic substances, etc, ) observed during the inspection of the subject property or that he or she became aware of during the normal
research involved in performing the appraisal. 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
substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no
guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required 10 discover whether such conditions exist. Because the
appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment
of the ~operty,
7. The appraiser obtained the information, estimates, and opinions that were expressed In the appraisal report from sources that he or she
considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such
items that were ftr'nished 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 appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion,
repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified In the appraisal report can distribute the
appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to
any professional appraisal organizatfons or the firm with which the appraiser Is associated) to anyone other than the borrower; the
mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally
approved financlallnslltutlon: or any department, agency, or instrumentality of the United States or any stale or the District of Columbia:
except that the lenderfclient may distribute the property description section of the report only to data collection or reporting service(s)
without having to obtain the appraiser's prior written consent. 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 relatfons, news, sales, or other media.
Vacant Land Page 1 of2
3-mM1
FileNo, 03-777M1
APPRAISERS CERTIFICATION, The Appraiser certifies and agrees tnat
1. I have researched the subject market area and have selected 8 minimum 01 three recent sales of properties mosl similar and proximate
to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the
market reaction to those items of signifICant variation. If a significant item in a comparable property is superior to , or more favorable than,
the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a
comparabJe property is inferior to, or less favorable Ihan the subject property, I 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 of market vaJue in the
appraisal report. I have not knowingly withheld any Significant information from the appraisal report and I believe, to the best of my
knowledge, t,hat arr statements and information in the appraisal report are !rue and correct
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject
only to the contingent and limiting Conditions specified in this form.
4. I have no present or prospective interest in the property thai is the subject to 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 andlor the
estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of eJlher fhe
prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the
subject property.
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 party,
the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive 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 mertgage loan.
7, I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice thai were adopted and
promulgated by the 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 of those Standards, which does not apply. I acknowledge that an estimate of a reasonable
time for exposure in the open market is a condition in Ihe definition of market value and the estimate I developed is consistent with the
marketing time noted in the neighborhood section of this report, unless I have otherwise slalad in the reconciliation section,
8. I have personaHy inspected the subject property and the exterIor of all properties listed as comparables
in the appraisal report. I further certify thai I have noted any apparent or known adverse conditions in the subject improvements, on the
subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these
adverse conditions in my analysis of the property value to the extent that I had market evidence to supporlthem, I have also commented
aboul the effect of the adYerse conditions on the m~kelability 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 individuals 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 of this appraisal
report. I certify that any individual so named is qualified to perform the tasks. J have not authorized anyone 10 make a change to any item in
the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility fOf it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal 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 fer the appraisal and the appraisal report.
ADORESS OF PROPERTY APPRAISED: lot # 5 Hollv lane, Mechanicsburn, PA, 17055
APPRAISER, SUPERVISORY APPRAISER (only if required)
s;gnalur.~ Signature:
Name: Mark . i Name:
Date Signed: December 3 ,2003 Date Signed:
State Certif\catIcm #: RL-000388.L State Certification #:
or State License #: RB029755A or State License #:
State: PA State:
Expiration Date of Certification Of License: June 30, 2005 Expiraffon Date of Certification or liceflse:
o DW o Did Not Inspect Property
MARK E. HILBERT & ASSOCIATES
Vacant land Page2of2
Marl\ 0::, Hilbert & Associates
03.775M1
File No 03-775M1
********* INVOICE *********
Fife Number: 03.775M1 December30, 2003
Charles Shields Esq.
6 Clouser Lane
Mechanicsburg, PA 17055
Borrower :
Invoice # : 03-175Ml
Order Date:
Reference/Case # : 03-175M1
PO Number :
Lot # 3 Bentzel Drive
Mechanicsburg, PA, 17055
Appraisal $ 175.00
$
..............
Invoice T olal $ 175.00
State Sales Tax@ $ 0.00
Deposit ($ )
Deposit ($ )
.... ~..... - -..
Amount Due $ 175.00
Tenns: Balance due upon receiptof invoice add15% fee if paid 30 Days past receipt.
Please Make Check Payable To:
Mark E. Hilbert & Associates
219 East Main Street
Mechanicsburg, PA 17055
Fed. J.D. #: 23,2391423
TO INSURE PRPOER CREDIT
PLEASE RETURN A COPY OF THIS INVOICE WITH YOUR PAYMENT.
Ma '. Hilbert & Associates
03-775M1
FWeHo. 03~775M1
APPRAISAL OF
Summery Appraisal
LOCATED AT:
Lot # 3 Bentzel Drive
Mechanicsburg, PA, 11055
FOR:
Geraldine Pipher Estate
BORROWER:
AS OF:
December 30, 2003
BY:
Mark E. Hilbert
MARK E. HIL8ERT & ASSOCIA TE.S
03-775Ml l.l l\.PPRAISAL REPORT RI,,., 03-;
~Ad!teS$ Lot # 3 Bentzel Drive Cef\susTract 118 LENOERDISCRETI". .,tffUSE
c;- Mechanicsburn Coo"'" Cumberland Slate PA Z1nCode 17055 Safe Price $
l.....a1 CJesai"lion Attached Plot Plan Dala
OvonerIO~nl Geraldine P~er Estate Ma Reference ~gage Arrount $
.. SalePrice$ FairM.VaJue Dale of Sale Property RlghlsAppralsed MortgageType
loan~C8SSionslob~i~seller$ X FeeSi1T1l1e Discounl Poinls and Other Concessions
RE. Taxes $ Tax Yea" HOA$IMo. Leashold PeidbySeller $
lender/alent Geraldine Mer Estate Condorrinum (HUCWA)
PLl) Sotroo
LOCATION U1lan X Sububen Rural NEIGHBORHOODANAL.YSIS Good ~ Fail Poor
BUILT UP Over 75% X 25.75% Under 25% EJrplo~nt Stabilly X B
GROWTH RATE Rapid X Stable Slow Convenience 10 Efr4I~nt X
PROPERTY VALUES Inaeasing X Stable Declining Convenience to Shopping X
DEMAND/SUPPLY Shatage X In 8a1ance OVer Supply Convenience to Sd100ls X ~
MARKETING TIME Under3r..bs. X 3-6tvbs. 0ver6r.bs, AdequecyofPublicTransportation X
: PRESENT LAND USE % LAND USE CHANGE PREDOMINANT 9G.EFMt.YHClJ5ING Reaeeaon Fadlitles X
. SingleFarrily ~ Notlikely ~ OCCUPANCY PRICE AGE AdequacyofFaciities X !=
~ 24Famit1 ~ likely X OMllll' ~ $(000) (yrn) ProperlyCo~atibility X ~
.. M.llti.fanit1 ~ Jnprocess Tenllflt ~low~ ProtectiootomDelrimentalCond, X
Conmartial ~ To: Residential Vacant (G-S%) X ~Hgh.........J..QQ. PoIce&FIfeProtectbn X RO
lodusbial 0% Vacant (over 5%) PreOOrrinanl General Appearance of Properties X
Vacant 30% 175 - 30 I A.....eal to Market X
Note: Raca or the racial composition of the neighborhood are not considered reliable appraisal factors. C01JNENTSSub' ect orooertv has Dood access to
Sh~;";~f~' Churches and M'~ior Hi;'j,wa;;;:
llmensions See Attached Plot Plan Topogaphy Basicallv Level
SJIeArea 0.546 Acres COOllll'lot None Size 0,546 Acres
Zoning aassificallon Residential Zoning Co"",lance Yes Shape Rectanaular
HIG/-EST&8ESTUSE: PresentUse otherUse N/A [}ain8;je AnnearsAdAnuate
UTILITIES P~lc other SITE IMPROVEMENTS Type Public Private View Residential
Elecllidty J- Available Snet Macadam X landscaping Tvoical
Gas >- Available CurblGulter None OiYeway None
Water !- Available Sidewalk None Appaent Easements None Noted
SanilaySewer != Avalible Slreetllghls None FEM<\AoodHaZlJ'd Yes' No No
SIcmJSewer None Ai~:' None FEtAA'~J~I7~ne Q C " 42037D-March 3,92
Comments (Apparent adverse easements, encroechments, special assessments, slide areas, etc.): None Annarent Subiect however to reservations,easem
ants conditions and rinht of wav of record.
Thynd.,.lgn.dhu,.cltedthll.'.conf..l..olp'opl'lI..mo.t.lmlll....dproxlmltltonijlcflndh..eon.ldoredlh...lnlh.morkllluIYlil. Th.d..eriptian inolYdul doll.,
odJutmenl, roll.ellng ml.ht ...dlon 10 lho.. It.ml 01 .Ignlllelnl ..,lotion ~.I"..n lhl su~tlel end oamp...ill p.op.rU... If. ,ignHle.nl illm in Ih. camp..,bl. p,ope,ly i. ,upldo,
10. o. mo," I.yorlol. thu, lh. suiJ.el p,operly,. ",Inu. (.) IdJu.tmonl II m.dl. lhu. ,.au.lng l~e lodl.,IId uln 01 ""bJ.el; it 0 ,Ignlll...t It.m In lhl comporable I. Inrldo, 10,
o,le..fuorobl.\hon,th. ,ubje.tproperly. I plus(+) Idlutlmenl I,mlde ,lhu,ln.....lnglh.lndlc,t.d..luoofth.lybjlel
ITEM SUBJECT COW'ARABlE/IO,1 COt.flARA8lENO.2 COrvPARA8lE 00. 3
Lot # 3 Bentzel 1616 FOox Hollow Road Lot # 29 River Bend 829 Usbum Road
Adaess ~Mechanicsbu,," PA Enola PA. Carno Hill PA
~toS~ecl ~1.75Mlles 2.5 Miles 1.75 Miles
SaI8sPrice $ FairM.Value $ 60000 :;,i:,'""r)::$ 97450::' $ 58,900
Prl<>I $ 0 $ $ .,7= ~ $ 0
. DataSoLr-ce Ins::::+1on C.P.M.L. C.P.M.L. C.P,M.L.
. V'LUEAll/US""",S ~ DEi~fi> Jl DESCRIPTION I "."- OES~PTklN I ,..- DESCRIPTION I ".-
. Sales IX Anardng OOM 2 OOM 375 DOM 330
, Concessions Conventional Conventional Conventional
. DaleofSaleffme 06-21.03 04-16-03 03-10-03:
. Locadon Good Avera---;::;-e +10,000 Good Averaae +14,000
SlteNiew 0.546 Acres 0.555 Acres : 1.01 Acres .15000 0.97 Acres .15,000
Water/Sewer Public Well/Public +1 500 Weill S...-.tic : +2,500 Public / Public :
. Gas Public None None Public
Elec. & Cable Public Public : Public : Public
Road Access iiUbhCllliUbliC 'Public Public:
Net~tot;i\ X + I. '$ 11,500 1+ X. '$ 12500 1+ 15<-,'$ 1,000
I,,,,,.. V,",,, h!!,!Qill'1 I~" <WI
ofSuNecl t:if::'ftl&lS 71500h'+-,k,:"\::i $ 8495rNA'~::' ':i, mol$ 57,900
Comments of Sales CorT'4lllf1son All com;;arables are dosed sales venfied bv C P .M.L..
Comments and Conditions of Appraisal: The a raiser assumes a maretable title,
Finai Reconciliation: The market annroach is a "ood indicator of fair market value.
.
I (WE) EST1MATE THE MARKET VALUE, AS DEFIt<ED, OFntE SUBJECT PROPERTY ASOF December 30. 2003 to be $ 71 500
. I (We) certIfy that to the best of r:r" (our) kI]Owl"';.<dge a:n;d behef, the facts and data used herem sre true and correct, thai I (we) personally Inspected the subject property
and Inspected all co!?'Psrable ~ ,.;I....wtthis fa ,and that I (we) have no undlsdosedmlerest, present or prospective !herem
> I~" /~'l ,-
Appralser(s) ,/ 'dr//' ~ ReView Appraiser 0 Old 0 Did Not
a ~.~ (lfappllcable) InspectPropEJty
~lmIIFamOoWllMARK E. HILBERT & _1IIInl_[JgiUII__,lllJIJ23U7Z7_,~
ASSOCIATES Mark E. Hilbert and Assoc.
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: File No.: 03-775M1
Property Ad&ess: Lot # 3 Bentzel Drive Case No,: 03-775M1
City:' Mechanicsbura State: PA Zip; 17L.
Lender: Geraldine Pi her Estate
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date: December 30, 2003
Appraised Value: $ 71 ,500
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
~ \
\J'~~ f
'r-S
f(~-e <:>'Ir~
~" .<1>""'.
"""" '/P<JS
, .
RESIDUAL LOT 2 (GERALDINES HOUSE)
24882 SqFt
0.571 Acres
LOT 3
23185 SqFt
0.546 Acres
.0'5'rJJ,rJJ~
575 .
\59,05 ottl'll€.
S€.\'I,"z.€.1..
S14'S8'31.00"W
LC=O.65'
R=I11.44'
A=O.65'
T=O.32"
D=O'12'58.40.
SD' D 100'
I 1 HJ1\.!Jll.,U l1
l;, t-'enney, K-Mart 'I IItunntt REHABILITATION (
'! , C~'''''rthrs Groups
cialty Stores! I . '6\ ~.,.\\ , no. Blick A., Rd. Welcome llity Cal'e Qualit~
\(1. '; ~.\ C\....."."!,p~
ide G'ft Certificates I \\..1' 1717) '6'.66" C.rp."" R,t. . Skilled and Intermediate r
,IIers, Wheelchairs ! Fn. Bn'''''' . Fr.. USA Tod'f A.ailable . Rehabilitative Therapies
l.iotf'Pul-lqoorJHuzl
tery Tickets 0.... RHII . fltm. RUlli . Wkirlpool RooIII, . Alzheimer's Programs
. Assisted Living
;t, and West 1<' ,,,,'y, . Respile Care
'Pheasant.Field Bed &: Breakfast 1070 Stouffer Avenue. Char
1/1 is the only ) HOITllnv,200 year old ~rick f~rmhOU,se; Full bre,akfast; 717,163,0436
,/I in Franklin and I Tennis-eOurt,.Horse boai'dihg. Central air, Some pnvate baths. 940 Walnut Bottom Road.
! . . '. Mel v,.. AmExAccepted 717,149.0085
je gift certificates, ~ "Come Hom..lpthe Cpunliy." JlOO Market Street. Can
717-737,8551
'A I nstant Lottery 800 King Russ Road. Hal'
!rvices offered at, I~ 150, Hickory town Rood 717-657,1510
" Carlislt. PA 17013
vice Booth. I (717) 25841717
./"'--'
1/ '/ -'
>''./
./
/
.
,
II CV....M W
I TREATM
WE MEASURE", WE FABRICATE,
A. FREE IN HOME ESTlM,
I'~ ':~i WITHIN 25 MILES
jfllr LARGEST INVENTORY IN TI
,~,:1' FOR DRAPERY, SLlPCOVE
11 UPHOLSTERY FABRIC
POINTS OF INTEREST J I VIStT OUR SHOWROOI
HOFFMAN MI
(See Map Other Side) ti,fl
o AlrportlChambersburg. . . . . . . A4 EiI Shlppensburg Ares ;~ FABRIC SH(
e Cumberland Valley Visitors Jr, High.. . . . . , .. . . ..' . . , F10 ~,'" [20 N. SENECA STREET
Stallon................,,05 $ ShippensburgArea ~# <'u'nn<arC'r"rn..... n. ''''''''
e Franklin f':ountv ComDlex . . . . D!i ~r Hlnh 1:1n~'
MULTI-PURPOSE SUPPLEMENTAL ADDENDUM f''' 775M1
FOR FEI LL Y RELATED TRANSACTIONS (FIRREA) 15M1
BorrowerlCr~1
Prooertv Adaess Lot # 3 Bentzel Drive
City Mechanicsbura County Cumberland Slale PA ZiD Code 17055
lender Geraldine Pioher Estate
This Multi.Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a con.
venient way to comply with the current appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC),
the Office of the Comptroller of Currency (OCC), The Office of Thrift Supervision (OrS), the Resolution Trust Corporation (RTC)
and the Federal Reserve.
This Multi-Purpose Supplemental Addendum is for use with any appraisal. Only those
statements which have been checked by the appraiser apply to the property beIng appraised.
W Ttlll appraisal is based on the informatton gathered by the appraiser from publlc records, other identified sources, inspection of the
subject property and neighborhood, and selection of comparable sales within the subject market area, The original source ol.the com-
parables Is shown in the Data Source section 01 the market grid along with the source of confirmation, if evailable, The original source
is presented first. The sources and data are considered reliable. When conflicting Information was provided, the source deemed most
reliable has been used, Dala believed to be unreliable was not Included in the report nor used as a basis for the value conclusion,
DThe Reproduc!ion Cost is based on
supplemented by the appraiser's knowledge of the localmarke!.
DPhysicaldepreciation is based on lhe estima,led effective age of the subject property. Funclional and/Of external depreciation ,if
present, Is specifically addressed in the appraisal report or other addenda, In estlmating the site value, the appraiser has relied on
personal knowledge of the local market. This knowledge is based on prior and/or current analysis of site sales and/or abstraction 01 site
values from sales of improved properties,
D The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not consi-
dered to bemeaningfut For this reason, the Income Approach was nol used,
D The Estimated Market Rent and Gross Rent Multiplier utflized in the Income Approach are based on the appraiser's knowledge of the
subject market area. The renlal knowledge is based on prior and/or current rental tate surveys of residential properties, The Gross Rent
Multiplier Is based on prior and/ot CUtrent analysis of prices and market rates lor residential properties.
DForincome produclng properties, actual rents, vacancies and exp enseshave beenreporled andanalyzed,They have besn used to pro -
ject future rsnts, vacancies and expenses,
SUBJECT PROPERTY OFFERING INFORMATION
Accoollng to Plol Plan the subject property
~---_._.._- --"----
Is cUlTently offered for sale for S
wasoff...edforsa!eWlthlllthepasl _ mol1thSor _ years
Olfenng InformatiOn was consld...ed In the lInal r&concillallon olvalue
Offering mformation was not considered m the lInal reconciliation ofvaltJe
Offenng Information was not available. The reasons for unavallablhty and the steps taken by the appraIser are explained later In
this addendum.
EI SALES HISTORY OF SUBJECT PROPERTY
According to Plot Plan lhe subjllct property:
B h.. ""t"...f.~..,,~. p,,' - m"'h,,,:ill...- ,.....
h.stransfelTed in thepesl _ monlhsor _ years.
AJlpriorsaleswhichhaveQCCUlTedinthepasl_ monthsor _ yearsarelisledbelowandreconciledtothe
, aisedvalue,eltherinthebodoflher& or in the addenda.
Date Sale. Price Document # Seller Buyer
FEMA FLOOD HAZARD DATA
B Subject property I. not located in a FEMA Special Flood Hazard hea.
Sub'ecl Is located in a FEMA S eelal Flood Hazard Area,
Zone FEMA Ma !Panel' M. Date Name of Communi
. C . 420370 03.03.92 Silver Spring Topwnship
The community does not participate in the National Flood InSll'8nce Program.
X The community does participate in the National Flood Insurance Program.
It is covered by a regular program.
Itiscoveredb anemer ene ram.
~.- Form. & Worm. In..,. 315 Whlln.y AVI. NIw H....n, CT OS511 All Right. R.._d
_....,1192 m.fonn"'-_~on"'N::l~ROIIIllF_"-(!lIO}234<1727
03-775M1
,.- 775M1
. CURRENT SALES CONTR T
BThe subject property Is currently not under contract.
The contract and/or escrow instructions were not available for review. The unavailability of the contract is explained later in the
addendaseclion.
DThe contract and/or escrow Instructions were reviewed. The following summarizes the contract:
Contract Date Amendment Date Contract Price S.n.r
BThe contract indicated thai personal property was nollncluded in the sale.
The contract indicated that personal property was Included. It consisted of
Estimated contributory value Is $
~P'"'''' ''''''~ w.. '0' 'no'"',' " tho """ ..,". ..tlm,t,.
Personal property was Included in tha final valua eslimate,
The contract indicallld nO financing concessions or other incentivlIs.
The contract Indicated the following conceulons or incentlvlls:
Dlf concessions or Incentives exist, tile comparabrllS were checked for similar concessions and approprlale adjustments wera made, it
applicable, so thai the final value conclusion is in compliance with the Market Value defined herein,
The Appraiser certifies and agrees that:
(I) Their analyses, opinions and conclusions were developed, and this raport was prepared, In conformity with the Uniform Standards of
Professional Appraisal Practice ("US PAP"), and in accordance with the regulations developed by the lender's Federal Regulatory
Agency as required by FIRREA, except that the oeperture Provisions of the USPAP do nol apply.
(2) Their compensation is not contingent upon the reporting of predetermined value or direction In value that favors the cause of the
client. the amount of the value estimate, the attainment ofa slfpulated result, or the occurrence ofa subsequentevenl.
(3) This appraisal assignmenl was Ilot based on the requested minimum valuation, a specific valuation, or the approval of a loan.
. ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS
The value estimated is based on the assumption that the property Is not negatively affected by the existence of hazardous substances or
detrimental environmental conditions unless otherwise stated ill this report. The appraiser is not an expert in the Idelltlficallon of
hazardous substances or detrimental environmental conditions, The appraIser's routine Inspection of and inquiries about the subject
property did not develop any information that indicated any apparent significant hazardous substances or detrimental ellvironmenlal
conditions wllich would affect the property negatively unless otherwise stated in thIs report. Itls possible that tests and inspections made
by a qualified hazardous substance and environmental expert would reveal the existence of hazardous substances or detrimental
environmental conditions on or around the property that would negatively affect its value.
. ADDITIONAL COMMENTS
~ . . . ~
Effective Dale December 30. 2003
Phone#(
Certification # ."" <- Tax 10 #:Jd -"'Jf11.F:a
. CO-SIGNING APPRAISER'S CERTIFICATION
DThe co-signing appraiser has personally Inspected the subject properly, both inside and out, and has made an exterior inspecllon of all
comparable sales listed in the report. The report was prepared by the appraiser under direct supervision of the co-signing appraiser.
Theco-siglling appraiser accepts responsibHity for the conlents of the report I ncluding the value conclusions and thelimltlngcondl.
tions, and confirms that the certifications apply fully to the co-signing appraiser
~Th' """"" ,"co,'" h.. 00' pmo",", '",p"'" th, "',,',, "th, '"'j"t ''''''~ ,"d,
has not Inspected thll exlerlor of the subject ~roperly and all comparable sales listed In the report.
hae Inspected the exterior of the subject property and all comparable sales listed in the report.
The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts
responsibility for the contents of the report. including the value conclusions alld the limiting conditions, and confirms that the
cerllflcations apply fully to the co-signing appraiser wllh the exception of the cerlificallon regarding physical Inspections, The above
describes a level of illspec!lon performed by the co-signIng appraiser.
DTheco-signlngappraiser'sleveiofinspection.involvementin the appraisal process and certification are covered elsewhere In the
addendeseclionofthisappraisill.
. CO-SIGNING APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Appraiser's Signalure DTralnee o Review DOtller
Appraiser's Name (print) SS.
Slale DLicense o Certified Residentlill DCartification#
FW_llIlll F....m. & W....m.lnc:.. 315 Whlm.y A_. N.w Ha_n, CT aSS11 All Righi. R...rv.d
0,."....", TlBfonn....-....poIIIIlooI:w\...lhOACI~~....._(llOOlZW.ftT2'
.775M1
FileNo. 03-775M1
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised,
and each acting In what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made In terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal
consideration for the property sold unaffected by special Of creative financing or sales concessions' granted by anyone associated with the
sale.
"Adjustments 10 the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normally paid by sellers as a result of tradition or law In a market area; these costs are readily identifiable since the
seller pays ,these costs in virtually all sales transactions, Special or creative financing adjustments can be made to the comparable property
by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction, Any
adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment should approximate the markers 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 that appears in the appraisal report is subject to the
following conditions;
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title, The property is appraised
on the basis of it 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 is
included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size,
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data
sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the
appraiser is not a surveyor, he Of she makes no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific
arrangements to do so have been made beforehand.
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 value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous
wastes, toxic substances, etc, ) observed during the inspection of the subject property or that he or she became aware of during the normal
research involved in performing the appraisal. 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
substances, etc. ) that would make the properly more or less valuable, and has assumed that there are no such conditions and makes no
guarantees or warranties, express or implied, regarding the condition of the property. The appraiser wifl not be responsible for any such
conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist Because the
appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment
ottheproperty.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and belleves them to be true and correct. The appraiser does not assume responsibility for the accuracy of such
items that were fiJ'nished 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 appraisal report and valuation conclusion for an appraisallhat is subject to satisfactory completion,
repairs, or aheralions on the assumption that completion of the improvements wiN be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the
appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to
any professional appraisal organizations or Ihe firm wilh which the appraiser is associated) to anyone other than the borrower: the
mortgagee or its successors and assigns; the mortgage insurer; consultanls; professional appraisal organizations; any state or federally
approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of COlumbia;
except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s)
without having to obtain the appraiser's prior written consent. 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.
Vacant Land Page1of2
-.
,-775M1
Fife No, 03.775M1
APPRAISERS CERTIFICATION, The App'aiser certifies and agrees that
1. I have researched the subject market area and have selected a minimum of three recent sates of properties most similar and proximate
to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the
market reaction to those items of significant variation. If a significant ilem in a comparable property is superior to , or more favorable than,
the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a
comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustmenllo increase the adjusted
sales price of the comp~nble.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report. I have not knowingly withheld any significant Information from the appraisal report and I believe, to the best of my
knowledge, ~t alf statements and information in the aplYaisal repat are true and correct,
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject
only to the contingent and Umiting Conditions specified in this form.
4. I have no present or prospective interest In the properly that is the subject to 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 parllally or completely, my analysis and/or the
estimate of market value in the appraisal report on the race, color, rel1gion, 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 of the properties in the vicinity of the
subjectlYoperty.
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 aplYaisal is contingent on the appraised value of the 1Y0perty,
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party,
the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive 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 the 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 of those Standards, which does not apply. I 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 consistent with the
marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section,
8. I have personally inspected the subject property and the exterior of all properties listed as comparables
in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the
subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these
adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented
about the effect of the adverse conditions 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 individuals 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 ot this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in
the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal 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
fun responsibi6ty for the aplYaisaf and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: Lot # 3 Bentzel Drive. MechanicsburQ, PA. 17055
APPRAISER: SUPERVISORY APPRAISER (only if required)
s~nalure:~ Signature:
Name: M rR E. HiI ert Name:
Date Signed: January 4, 2004 Dale Signed:
State Certification #: RL.0003BB.L State Certification #:
or State License #: RB029755A or Stale Ucense #:
Slate: PA State:
Expiration Date of Certification or Ucense: June 30, 2005 Expiration Dale of Certiflcation or Ucense:
o Did o Did Not Inspect Property
MARK E. HILBERT & ASSOCIATES
Vacant land Page 2 of 2
'IUllllllllllll IIIUII 1111 IIII '30120'
" E
~::lI t2 00001"'-
C\J g 0 ~ <<! ~ "": '
0) r-- MOO...,. CO
M 2..... $ C\J 4A- C\I (I"j
r-- - <: r--,.... ~
to ... t-a.. cr)'" 0)
:lU)w 'OI:t 0> -.:t I-
o W ~ tA- "" fI7 10.'
>t-~~ - E
~ ~Zt-rr =~
m ~ c~oo~ z~
_ E u+:=zffi ~re
-i-l. 0 :i >C/)<(() Ii cf S~
;: .... _ i~::2z 0 "": ~~
.. 1'\, CD c 0Zt-< to! 0
....., :: ::::I .-(/)I en v
~ Do. 0 ~()<u E J9
~ g ::zww Q) 5i
<U < 00..",:< oS '" <ti
~ Ct.l C .~
- .. C> "
-1~ > C\I tT
- <: W
V) U _ -'"
Z c ('I') C') VJ
~ 0 q. 1)8 ~
;: - co = 2 ::s C\I "#.
...s ..cry =-- itn...... C!
~o C\/ ~ t/)E:I", 0
ON C:::. a; C_c:(>. 0
IlIII! Q) U) _ - ......
c..J:;; .-; ~ III E ~ 0 ~ rn ffi
U_ IC'C.."", _"", rnSCft'C -g ~
_ OJ Cl as ~ ~ C.-I Q) ca ::::I _
~ ::I ~a..U (I) 0", ~ U CD ~ LL ~
Ol I&. ::::ILLO CD - ~ - Z ::I _ ::E
,,:I Z "t)...JC C..... t.l a.. - Q) n:I
......, c( C....J::::I > _ ca ..2 E tW
.~ I - 0 uiO 3 0 2 2E to > ctl)l( ~ ~ ~
CI) - (J-JD.. - 8 L.. c:::: "0 - > ~ 60
V) - to- "it-<( c=;: as .-.!'! ru m C 'E - ~~
... ., U -!:::z CD.,.... ... Z ~ .,... ~ :s :::J::E ::Ie:
"'-l ::lI u...Jz U)Q)::::S -- .;a,: - 0 0 @w
-.. g' c ;000 ~N e. :>> 5- ~ g 8 8'" "'CC!'
U cc ... =~Cl E~ ., 0 w 2 .!!J c:t ~ III
Z LLa: . 0 ' -., U.s= CD CD _ as en
...1-_0. U)CI)UJm_
o ::s<m 100 U CJ CU en UJ _ 0 en
oIU):I'\' " ... t.l <( <( 0 ~ ...
(,) >t.l<( <>- < ... I- ...
~
""
li
u .... 0'
~ .!: V'l
v, CD "'t:
- Z
~ ~ liS
,,., ~ cu.. _ iil
.., 1 Z _ 0 u
E- <; 0..- ;,.;
-= Q) ...
Z:: .,;.... ~
~ i~ ~
~.E Eg Jl
~!6 $..0 ..ll:
,.:::::::: C .s. .. '" 'II> ~
E- ~' U) 'E j .1:: Ii.. t! Vi
-' N -10 ...~....~._ Q
V);::: to') ~ ~E""': E~i~~~ S
fTl:i N (0 = CD -- i g,E .. ~ :' .;c
~., 0 - Z 0_- c..::t:jS_.. I..)
~= - C") U)t'G<<:I ::~IIiEul:'
;::EO.... . Cl -U)-' .sc-i"'jfl! .
' 0 c: C\I ...,S'"' E::J \,j
a::~?;: LO - 10....<<:1 r...,.!'~$'~ .=:~
........==("'.,IJ0&04 F2 .. Eg'i" =:i'E+~; <t\'~
cto') ... ~ 1;)>0 c::l:2l!!~~ e.1iJ
U = (I) - .... CD 0 t:~~!~t: ~t;
~ >e = 0:0< ~ >"CO? 8.t:....-lt::~ oo.l E
.- 0 ,- w 0.. IIlIii c: en or- E .. t::".: .. ... . ..;c
;z:. ,;:::,..,... ;> " 0: - CD _ VI .... ... c ....., ~
~ - "' 8 - II: - t- "..,
<( ..- ... a.. z Cl c.J a: C'G \,l i ~ ~ 6
0- ~ g I a:~~ 0 ~~ ~ \,l ~~! ~~
,~~ s~~m I&. ~~o ..aG~~;!~
~ N wU)~ Z _..o.!!! ;J!,o '" '5jh
~ S1 ~w_ - 'Ii::r: c: tJ ~.E;1il ,,,E;
~ C1C!)~ a: "a ::1'08 o~ i~ ~5
-JO...... A.OQ) ....J _.., .~
~ <(II 0 :::::t >'0 0 ~:-i ....,
ti a: <<:I c.J O).Q CD ;;- Ii ;;
i WC")U1 I- a.sgo :::s~ nli
fJ C;J ~.~ en .. g CD ~ . . 1 ~
1&1 It'OCD- g"
!O..c;.~ . <t
> ....~_0 _ ~'f
c c: 0 U) _..
z --- co VI VI
-
, , n" '" '"' .. ,,~ I Inmllllll 11111 11111 11111 11111111 =00'
"'C ~ !l.;o
'" "0 0 - 'el
'" c:- Ol '" Ci
~Q)~:;'5E 6
c>Q)ooQ) ";'
o Q) c: ::>--.0 .... ~
_>- _ctl; e t:
0= Q) 0_ Q) >-- ..&5
..... a:l 0..... c:.... E
C/J ::J C:'5 ca ~ ~...,.
1ft ,2..,; ~ ~ ~ g> _ m
_ c: :>'-::l U)-- ~C\l
~ 0 ctI:::J5c..c2c::n ~ el~
;:'" '<::0 Olo",,,, .- .\1lD
Q.J & -; >-0.s:5 ~ c.'S ~:
., .... ca-.... 6"
s::"... o-~"'._"'''' &.
~ Ecl>~';.g'uo.. ~....
QJ ~ :Q a = a:l c: <D .;; a.
~ o~o~~~~ u 0
~ :::J....wU)~~_ ~
..J.~ E Q..'(Q ~ "- Q) U) iC
.,...... 4> ::J Q) ><
V) ~ " ~ g g.~ 2! " P.l
~",>::J Ol ~ ~
~ '_<<I_~U)~:=tO tr J::!
en 0 c: fJ) (1)-- a:: (J)
;:("2 'E>-Q)o<(C:~ C ~
-"0 Q)~E.9uiO'::: - - ~
.... 0 E-- -Ol .. E
0'" O~Ol",,,"O .. E E ~
-_a>cnO'-C: 0
u~ ~O>OC>>a:l 2: ~J!!~.!! u.. a:
uC'? >Z.6::5-=-gOl ... w..ow-9:; ~
_ c:._ '... c: ." I rtI , 'U 0
~., -en 0 CO'ot:.- CI) xx)<.>< >- ~
~ ~ (J"OQ)U>CCD2 ~~~~ B CL
::J z"'oc..:::lcac.ca Z ~ ::;
1', >'01::><- ~
>o....Jc:[ c...l:J__::QJQ.. . 0 ~ OW
.~ I f1J "C ... $Z
CI1 .... 5 - CD "C :.: 60
V) -;; ;:: it.... cf. "ift cf. (/! tf. ~.. .~ f1) J ~~
~ ::J _...=..... 0 0 0 8. c :2 0 .... CL sa:
~~ @>t:1ciocido-c lIII! ~ ~ c:g~>. l:j~
r I - -:r::. v v 0 Q 0 0 -...... .- '" 0 "2 '<......
""-Ie( ~ ...... ,... --ti a::: 1ii 1ii cn32~_o
o _ Q) CD ],.g en (f.I l:
~ ! 0 CD CD lD..c~~.g
... ... 'E C oS:(G~as
o - - o:>f-c:E
"" 'i:l Z '0 '0 <1:- -5
.9 00 0 0 o~ _ <D <D ec.: c
c ~ ~ ~ ~ """:C11 2 2 ~4)'(ii .::
':: CO) ::: ~ ~ ~'E >< g g e~o:U&
<i .... ":. ":.1 . < < Clu..u..~. ~
t 0) at atCII ~ V"l
... 'V ~..,.O) "S
U ~ ~E a
u 0 ~ Q
~ :z 11 ... 0... '"
Vi ~ 0 (f) ('t) CD '"
~ 0 'NM u) Z
- .9 f'-.."'" tir
)]; i ~'V..,. ~
tJj'z "g 0 0 r--.""~ S ~ v
'- '- C") (f) co CD,,-O "--.
E-' t;.. ,., ~ ~
-i t:l.. C") (f) 'V"" co S ~
""70 ~... <'> '" "'''' s
fC-=.9 'V "'=t "'=tiS ~
rTl c ~ CD CD CD E "
~ -= Q... 'V II:!""" al \iJ
~j """">,"'S'V""-fS
.;:J c: - ""-..... Q
:;- .:! t; ,~.~ "I
~~ N 0 p...~ ~ ~
~1.Ii; ~ ~ ~~;;; ]
:2 0 C) ~ v
~~~ i 8 ::i~
"'.....;,.:: 2 en ":$
~;;~ .. : Z "l.a
U .: - " ~ 0 ~o
" .. _ '" -.l "
i 0:-:: (/) - ,.J-(
" ;Z "iIl > ~ ... .
'.1. ~ tn en ... .",,:.-
.' -,^.,_ _ :::l ;:::i"'"
;.H ~ o::s c ~ ~ .;:
'~ . 0 CD III 1!
.. >>- -'I E'~ _ _ .s C
e >- -;; ~ - =::;:2:
II: .. > II: "'0
> - 1Zi~
c:c ~.s 5 ~ ...;6
en U) I'll at 0 en ....;;:s
111! "0 :::l _ ::r u _
.. C!!! ~ '=::22 ii~ .Q
- ,:;:' C IJ} C c: 111. >-
~ .....111t>> Xo -Q')_ 0
~. ~gii 8oo~cn~Em ~~ .
en ~jg> -_c'OE1ii"O:2=
cutG"5 en oC_.u. Os III
... ~alCT UJ-g~~~~1;..c 8g :E. UJ
IU .J:: CD-S;~ ~ 6 ~~:g~~"ii.; :! ~ 0 ~ ~
en "''''o~tn g"Qixx-.'t:::.J::cn.sa! U '0 ~
IA tU ...ea _ ....CUtU:::lC_cn 0C[ .- CD
.. u:2:2u cnOll.I-I-~::lOoC I- Z 'a~ "
. - -
-
~~# ~
G"1V '" 0 ,..
. _w. z.
::. ~ t>.., l'&
" ... 0 ·
~ ~
!;\\D
o ~--e ~~
D "'G --e ~ 8 8. ~ a.~ c og,
'6 ~] \ ~ ~ l~ \ ~, ~ \ '% 1:;1 ~
.., "i.-a,," ._" li>" <.
." -t:.::s..... "a <
W '~~ ""
Go
I
. ~
') ~~.. ~
Q~~ ~
... t~ 0 ~ ~d""... 0::
;:$ Q). :.-. >
~ '" "," -a%.,;"" ..., ~
";;:SS . ~~g. ':; 'S>~~'~' ~:. t~
o "0 ~ ",.. v . 1. 1. '"
u .. ~ (\.. -:t
~\ ~ "
u ~ ~
.~ ~ ~
(,/) _ 'lla
ton ~ !
~" ';;
...... g> b
U" "0 t';l~ 1<.
, c~ . ~
" (\ ~ 1
~ Q
; ~
" :z:
.. Il.!
" Ii!
~ <.;
~ ~~
~ ~
u 0) '"a .
c..;ilL Q ~
'" l ,,\D
> '
- .
~ !1
V'l '!i ~
<- E e
"? \) ~.
f:;; ~ ~
~~:, %
- ..
~ % ~
r;." '" ,... ;::"
..,~'.,;. ~ ,5 ~><..
T g <:> 'i.\ \II ..,.,<( ~
~ ~ .e ~ fj..0- 4'
"'~~ S % ",0 Eo
:: .... '" '& Ul ...
~- -, .... " ... ..
~ ~~~ ~ ~ G
ur';.~ ~ 'in ~
-7e&~ 'il Ul,.. (.)
~ ^ .'!l tl ~ a: Z
f"\ O~ ~ .. - \? c.. ..
~ ~..-l!l! O~ (.) '" ~ ... "
~ .s 0;.. Z -::;.: to
\II 'i \II ptO . 0. \II S " 'S ,.
~ ~ l- ~~ ':d. Su>O; u. .!!. ~
...~~ .J.... .,.0 CiJ* :s
~ i ~ ~~$ ~ a~~ ~ ~ <3
r-" _ Ow ~ Ul ..-l'" ~.. ..
11I;< ~ ~-::; .. ~ 4. ~>< :0 ~ 4.
a~::l oat3 \II ::l'6~"'tO- to
1-" ~ 'i'g- w ';-<t.cl'O l!! '0
1II.g :::;0.15 \II :0;;1, I- 0 I-
\II~~ ~Ol- '!i I- -
\II.~ ~
of. ,..
<13S5f12 F01N n9D 10Z ilI3\,.... 24;'1r. 1111.11111I UIIIIIIII ImllUl1 1111 *303'0'
,5 0 I 0 .$ :!! <>
0 0 ~ <>
~ . I 0 ~ ,,;
.s 0
... ... ..
I <
~
E
.'"
II> I Zo>
I -'"
- eN
-+-> 0 III III '0>
.<')
II> Jilil I 0 Ji ~tp
~ I- '" I- g <>
.. ~ ' I .; ~ ..,
Q.J '" Z ~ '" Z ~ ..; ..;
.. ;;:... I ... .. ..
lE D.. III >- III ~
... ~ ...
Q.J ~ I 6
I
-+-> C I c ::;: c
.s > I > l!
- - '5
V) :I "'" 0 ... I :I 0
... 0 ""'0 ... " 0 C
,3 "! '"' 0
(I .... 0 (I a~ ... ... 0 U
-+-> 0'" .n I d .,; .,; ,,;
III ... ... ... ... III .. '" '" .. 'iii
~ ;,; - ;;; ;;; 13
'" C
;::os 0 :I: :I: - ~
C
0 III I III u:
0 '"
c.;": C C 5 0:
0
c.;'" CJ CJ >- W
U "-
~! ll.
l! c::
1l I C
" 0 ~ ... liI ;;0 " 0 ::;
c.; ... 0 u
C ~ '" .... - .. ... ... .. m OW
.; .n .n .; c .
"- . ,..... .,; ~ ..; 0 ~~
III ... ... ... ... .. ... .. ~
- 6 - ;;; ~ m
III - l5. ~~
~ .. ~ .;
" ~ '0:
(3 C ~~
D '" m
" E
C J!!-'
l!~
0"
00'
.~ .- m
:;~
~ (; C
"- _8.
C "
"'C
Om
8.6 ~
~l!
_.0
:ll "0 '"
.- g.z 1
~ ,..
w :i g'>- /:i
~ .- ~
V; 'EE '"
""
. ~i5 Z
w ~ 0 Uj
t.fj~ - tn'Vi ii5
- c: '" e ~ u
f:-l! c: ::0 0.0
" 0 c: '" ;,;
0 cn.2 ~
?:~ o " ~ m'C
" " " 0 !
~< .0 ... Ii: 0'-':
~)i "t> :; ~ ." ." 0: j;'~
'li; .. 0 0
~ ~. CD o 0 ll. ll. ~~
E is :;; me ~
CD >->- '" W W [;0
ti1g CD o E Iii." .::; c: ::; ::; 00\
'" ." c: c.:> 0 .. 0 0 .cc g,
- 0 H
'" _ CD CD - '0 m -:;:: " (/lU (/lU CD
~~ '" .::;ct: ."LL c: CD III " c: O~ O~ " >m S
,g 0 ::0]2 11l.!2 .~ E CD 11l .!!! c: :t:s 6
- III "- "- III
~o~ dldl :;: 11l '" 0.. 0 $ c: .. ",W ",W iij '0 -"
'" ~ - " c: 11l !Sm OW OW 6c ~ S.
.:::j1"O:>': ." o c: E~ m
::r-~ III III "" l1l c: c:- III 00: oa: >"
III - CD .- c: 0:"- 0:"- '" mO . e
.....- - '" ';;: GiG) 0'" :!2 :; iD _ CD I- "'X ",X c: ~g . .
o '" . .r:: .- "2 ~.~
U - " 'B en '" III CD"" .;0 <6: '" ,:; C 0"" 0"" 0; ..~
'" '" Iii ..
;. X_ ""''E << 03: 0 0:0 :;:0 .. ",,'" ",,'" 0 0_ ....Je
;z> o~ - Cl 00 -''''' -''''' (3 .9a
~ Q:l; ~ II l: 1Illl. 1ll11. -J ,
OJ II !J>- ;.:'"
-:::. . '.... OJ >- l;
p- Cl5 >- > a;E
:; '" > ID -,,'>-
"'-..-1 a: Iii :; j;" :; ~
~ C '" ~ tr ... 0'g =:Z
!!! '" ~J2
::E .c '" ." - > e > is]
c: '" .c C is -0
: .2 .::; c: .. o is. .q\';
::E "" .12 .. I- ti;
0 u 3: 0 Zm ::;::;:
11l ::; 0 Z ll._
:I . III W "'~
'" ." ,Q . W
III II c: c: II Cl .;;: 0 > C0
" - Z 'i 6
l: !!! 11l 'li; " ~ :> w
>- .. I- '" is 'li; c: >- is 0=
'a= "" CD III 0: :a'g
I- '" -g li; OJ ?-
m CD 0 ~o
- en a. 11l " m - ~ 8 2u
> l: ." CD - '" > "1!'
- '" 0 II .5 .... l: g.~
- l: 11l E - ~
.r:: 0; ><0
l- II >- '" 0 _ CD I- ~ ~ ~ CE
CJ 0&\ 11l " 11l ,:; 0 B ~-
c.:> c: :;:0 t3 CJ .c..
- 0 ......
C C
JUt'-/-O'?-2Cl04 1'3' 10 c ''O,f'iilf'. 412 75:::; ~.4::.8 F'. O'l..---C1'~
o PNCBAN<
June 9,2004
Charles E. Shields, III
6 Clouser Road
Mechanicsburg, FA 17055
RE: E~tate of Geraldine M. Pipher, deceased
SSN: 204-01-5442
DaD: 8f31/2003
Dear Mr, Shields:
In response to your request for Date of Death balances for the customer noted above, our
TCcords show the following:
Checking Account
Aeeount #5070094113 Established 08f03f 1990
GERALDINE M PIPHER
DOD balance; $JO,J09.64 + $,76 accrued interest
Savings Account
Account #5003918573 Established 08/08/2002
GERALDINE M PIPHER
DOD balance: $43,761.71 T $11.99 accrued interest
The decedent maintained Invc.tmcnt account # 67392894 for further infonnotion, ple""e
call1.800.762.611l
Please note that thIs office only provides date of death balances for deposit accounts
(mAs, CDs, Checking and Savings accounts). We do Dot procoss any financial
transactioDs or provide statements. If you need a~si.3tancc with any of thc3c items,
please call J-888-PNC-BANK (1-888.762-2265) or stop by your local PNC Bank branch
office.
Sincerely,
G1mhi QeL L&oJ..,i0-
Rachelle Wells
] -800.762-1775
P7 -PFSC ,Q4-F
::i00 first Ave,
Pirr.llburgh PA 15219 \1ember FDIC
---_.-
;
....."." -'
r{.~M
CUMBERlAND WLEY MOTORS
USED CAR APPRAISAL
Date 0 '1? - 3/- 0'3 Sales Rep.
Registered Owner ? 5 7P;-1 '" F Cr <? .'1.-1-< () (I"f 111, f.f'< e./l
- ? ( I
Address .s I ,{J rf f rz t. A-........ L
City ~<: L 4.4,...-/ C S ~'-' /c ir- 1:'4- Zip 17;;1 i" u .
Home Phone Bus. Phone
Vehicle Interested Stock No.
YEAR 71 MAK, (t,;1.o,rSCt1$ODEL tC!.&M~OOY f<;ar.u)
Total Miles '1<((/<.1' Ser.# Jc. JX.I'ft.((,k2JVT?oIS'i7
Tag# D~'()o ExpDate . Titl~~ ~S-D J77'?5:fJ<:.J(
Ext. Color ~Olor "- T -9-"1.1 CD VOL 0
Engine V -I.{ Tran 04 WD Tilt Wheel ~ Power Steering D"'
Brakes ~r Cond, ~;se Control ~ Windows o~ Defroster 0 p, Locks-e---
Radio ~ Tires Roof Wheels St. Insp. 0,7;;' {'
Other
Paint/Body WorkD Exl W~IIi'lllly 0 Servlcecl ill 151 Owner 0
lelllhojclel - Le,lser! 0 Purchased 0
O(l11llleter 0 Repi'lller!IRepli'lced ill __~____ Il1lles Ex" Mech LllllltS 0
Condition , _./ / Deduction
Eng,ne & Trall1 D /C 4( c!. C/' S
Body t ~ ------- S
_ ....vI 'A-<1-d'23._ Uf!r?o.- /)t",",,?- S
,
Tires LF cYl1F14'1J1 0 -'ffR c;r- S
Intenor ~.J(-7-~--' S
Other ___~__. ,,____ S
----
~,,4. . Total Deductions S
ACV / ''- .1JOO _AppraISer
Retail 0 Auction 0 Wholesale to
White Copy - File Yellow Copy - Sales Manager
ADAms Q . \.elJO.232.oHl
NO. 56\ INDIVIDUAL MORTGAGEr-SCI. FA. INS. ETC
IDijtn 3J"~rnturrf !lubr WIll'
<29;( day of /~~ in the .'/~tJ'f' of
our Lord One Thousand Nine Hundred and ninety-two (1992)
1!irtlU l' 1'lt DENNIS HOKE and LINDA L. HOKE, his wife, of Silver Spring TcMnship,
cumberland County, Permsylvania, lbrtgagors
and
DAVID T. PIPHER and GERALDINE M. PIPHER, his wife, of Silver Spring
Township, Cumberland County, Pennsylvania, lbrtgagees.
1ltIIl11'rrU5 THE SAID DENNIS HOKE and LINDA L. HOKE, his wife, the said
Mortgagor s . in and by that certain Obligation , un.der their
hand S and ,eal 5 , duly executed, bearing even date here'tt'ilh, stand bound unto the said Mortgagee in tht
rum of NINEI'Y-'lWO THOOSAND ($92,000.00) - - - - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - Dollars. Iau"ul money of the United
States, conditioned that the said lUortgagor S J thewir", e.rectltor8 or administrators. shall and do well
and truly, pal'. or cause to be paid unto the Baid Jl.forlgagees, their certain attorney', executors, admin-
istratOr> or assigns, the sum of Ninety-two Thousand ($92,000.00) Dollars to be paid in the
manner indicated on the bond executed herewith.
AttIl ulso. at all times, pay all Taxes and keep the buildings erected upon the land herein dacribed
insured for the benefit of the ?lortgagee, in sorne gooel and reliable Stock Insurance Company or Campanil'I
to the amount of at least Ninety-two 'I'housand ($92,000.00) !XJllars
and take no insurance out on said buildings, not ma.r/,ed for the benefit of t1te Aforfvogee.
All!) the further condition of the said Obligation. is STlch, that it ala't!.!/ timt' dpfalllt shall hI' mcltll'! ;n
the pa,yment of any installIrent of principal and
interest as aforp"a;d, for the 'pace of thirty (30) da,'I" after any
'la,llment thereof shall fall due, or if a breach of any of the other foregoing conditions be made 1,.rt the _,aid
Mortgagor Sf their heirs, executors, administrators, or as.,igns, the said principal sum shall, at the option
of the ,~aid ItJortgagee s , heirs, e.-reculors, admini.draloTs, or assigns become due; and raHTJlent of the /lame,
'(!'ilk the interest, Taxes, and cost of [n.,urance due thereon, together 'with an Attorney'" CO?Il11/.i,<;!don of
15% per cent. on th~ said principal sum, besides cosh of suit. may be enforced and recovered at
once.
Now this l1ltll1'lltnf1' NHtlt1'551'tl1. that the said Mortgagor s , as 'tall as for
and in consideration of said debt or sum of $92,000.00 Dollars, and for the better
recuring the l'a,1jment of the same, with interest, as aforesaid unto the said !J[orlgagee s e.xecutor'~J admin-
istrators, or assigns in the discharge of said recited obligation . as for and in con.~;deratinn of the furthet
.'urn of One Dollar, lawful money aforesaid, unto the ,MortagoT S in hand paid b,y the said M ortgagetS
the receipt 'whereof is hereby acl.no'tOledged, do kereb,,! grant, ')argain, ull. release and confirm unto th,
Mid lIIortgagu s their heir, and assign" illl
bOOK lODl f'^fl 417
-
ALL THAT CERTAIN tract of land situate in the Township of Silver Spring, county of
CUmberland and State of Pennsylvania, botmded and described as follows, to wit:
BEGINNING at a stone in line of lands now or fonnerly of Peter Snyder; thence by the
same, North 34 3/4 degrees east, one thousand thirty-one and twenty-five htmdredths
(1,031.25) feet to a stone; thence by lands now or fonnerlyof Samuel Eberly, South
55 1/2 degrees east, one thousand eighty-nine (1,OB9.00) feet to a stone at a tree;
thence by lands of Alneda S. Ward, South 50 3/4 degrees west, four htmdred one and
six tenths (401.6) feet to a stone; thence south 40 3/4 degrees west five hundred
forty-nine and forty-five hundredths (549.45) feet to a stone; thence North 55 3/4
degrees, eight hundred ninety-one (B91.00) feet to the place of BEGINNING.
CONTAINING 22 acres and llB perches.
BEING the same premises which David T. Pipher and GeraldineM. Pipher, his wife, by
~dated March 29, 1977 and recorded in the Office of the Recorder of Deeds in and
for CUmberland COunty, Pennsylvania, in Deed Book "B", Volume 27, Page 79B, granted
and conveyed unto Dennis Hoke and Linda L. Hoke, his wife, the rrortgagors herein.
.
t:O C>
1"0 c
, en 3:;0
rolTl""
. ,." ",00
, ""t> ;00""
C.:> r;olTl
Cl 1>-0;0
zrTl-J
o ;0 .""0
~ nON
0"-
. .... ; colTl
Z",0
, .... -JlTlr
,~. -<olTl
C .(/);0
"'0
1>-
iloodOlJl p^GE 418
Wogrtllrr lll\Htll i\11 nub ~hlgulnr THE
hereditamentl and appurtenance, 'Whatsoever unto the hereby granted pT("mile, belonging. or in IJngrvi~~
appertaining. ond the rever.ioft.' and remainder" renb issues and profits thereof.
IDa hur nub to 1101b THE SAID
,
hereditament, and premise, granted. or mentioned, and intended 80 to be, 'lt1ith the appurtenances,
unto the ,aid
MortgageeS, their heir, and assigns, to and for the only proper use and behoof of the laid
MortgageeS. their heirs and tJ88igns, forever.
Aub the ,aid lot oetgago,s , for themselves I their heir, and tJl18ign8, do herehy
covenant, promise and agree to and 'With the said Mortgagee S ,their heirs, executors, t'tdministrator! and
assigns that if the said Mortgagor 8" their heirs and assigns, shall neglect or refuse to keep up the afore.
laid In8urance, or pay all Taxes, it shall be lawful for the said ?lortgageeS, their heirs, executors,
administrators and assigns to insure the said buildings in the sum aforesaid, and pay said la.res, and reco'ver
the costa and e.rpenses of such Insurance or Taxes in a suit upon this ltlortgage.
ilrouitlrb their
always, nevertheless, that if the lard bfortgagorS , / heio, e.recutors, administrators,
or assigns do and shall pa!! or cause to be paid, unto the said JIortgageeS , their executOTl,
administrators or assigns, the silid principal sum of Ninety-two Thousand ($92,000.00)
Dollars, lawful money, aforesaid, on the da,11 and time hereinl)efore mentioned and appointed for the 1'0.'1-
ment of the same, together with interest, 'l'a,res, costs and charges of Insurance, as aforesaid, and without
o.n,'I deduction, defalcation or abatement to be made of anything for or in respect of an,'l Taxes, charges or
assessment! what.8oever then. and from thenceforth, as 'Well as this present Indenture and the estate hereby
granted, a, the said recited Obligation , shall cease, determine and become void.
Autl ilronibl'b also, that it shall and may be la'wful for the said ]I,Iortgagee 5, their
~.reClltor8, administrator, or assigns; 'when and as .soon as the principal sum shall in any event become dUt
af'i,d pa.vable, as aforesaid, to sue out forthwith a writ or 'Writs of Scire Facias 1lpon this Indenture of
Mortgage, and proceed thereon to judgment and execution for the recovery of said principal sum, and all
Interest due thereon, and the cost and expenses of Insurance and Taxes as aforesaid, together 'U,'ith an
Attorne,y's Commission of 15% per cent. on said principal sum, besides costs of suit. 'without sfa.'1 OT
,.remption from e.recution or other proceSl with a full rdease of error'.
1I~p:itur5!1 'IIl1rrl'of ,h, ,aid parties of the first part ha ve to tht'u preunt,
uti an'lS and ,eal S , the day and year fird abov~ written,
Signed, renled and delivered in the - -di
pre.ence of'
~~~ , ......(SEAL)
D (YOKE ~.
/r:;.., ,,/"
- ~.~~--_.. .. ~--~ --
--...._.......,--..--,...._--- ,. _.......(SEdL)
- INDA L. HOKE
)
l' ~'
~_._._-_.~--- __________.."'_________.(SEAL)
800K 1 1 PAGLM9._____.________(SEAJ.. )
-
ST4TE OF PENNSYLP4NI4 I
COUNTY OF .........~~......... ................_.... 8S,
On the..9flI4..d.y of..~-=-.. .................._._..._............ ......_..........,............. ......in the yea. One Thousand Nine
Uundred .nd.....Nine.ty:::t\'v9...(.:~;lo~. m., the ..b,crib.. .... ..................i:!....N2@.!.;y...P.!Ji;?:L.;l-J2....................._..,......._........._
- ..,.,......,"u..... ,....,.,....."..,.... , . ....... n"....mw.....m..wmm.._~............ ....................~........--.._......._mm_m..m>m..camf! In.e above-named
....Q~I(;ltlQ~@<:I);U~Jpl\,.];" tlQ!91:,...h.j,.!?.~tE.~........._..._........ .........................._...._..........................._.... and
..,......,'..,...............'.............. .......nm'.............................................................................~. ....... '.......n.....................................................,. n................................,............................_
acknowledged the above Indenture of Mortgage to be, ,.... .....,..t.h!?.~J;.:......'.'....h.......h............ ........... ......., Act and Deed, and
duired the ,ame might be recorded d' luck.
,"':ll,iE't",;iNto.. my h.nd .nd.I1Qm:h<lJ.......1. ,
J'..,,~1!!~I<?r....,,',,_~"':--.;,~ ~~ ~
,~ . .' '>>.~' ,-' ... -\.-, J'. - , 't'~ c..~
..RF;':\~/e;i/(~\ .........~?;, ........_.........:J.K.........._._
. " .c', . M'" NotaJiaJSeaI
S;' (~~~', '<"" ..i" 11 coml1UUJOn ezp.re....,....... ..........-....,................-..-.......---.... .........."CMffeSc:'SflieJi:Js.m:NptaJyPublic
._" .' .il",' ' Mecl1anlcsbu'll Born. Cumbellat1d County
My Commission Expires June 20. 1996
Member, PennsY!l!aniaAssodallon Or iIkllaries
j hereby certify that the Precise Buidence of the Mortgagee S . and per,on S enlilfiil to [nleTe.'
,,"', M.,~~, ;'-;g:~12;!t; ':~"~~~~j.i)
J. t torn.y for ............M;>X.t.g"'gee.s................................................._...._
"I . Ins .." "l q t;l
. . , g ... nJ ~ 0 '"d III i . i
: : ::s o..::s "'1 0.... I I'
Ul , 1 .. III _ ~ ~_ ... C'1 :. :
. , "t ~ 0" ..,~ ... Q.o I I I
~ I' i ." i - n Ii' i
t"" , C'1 n '. I.
g I !1- 0 = j i 'i
... I, ~ "'~ ~ "I' ~
l'IJ i i .... 0.. i 1 !
~ ! 1 ! S'" I I f
..~ Iii r-~! i i! j i Z
-'" I"" a . l...: ~ 0
-~ ,,' "'" ~ W
c ~ , I ;:: =:;" ~'
co I 11!~' ~ i i i i i ~.
. ~ I . . ,g. ... I I .
tl\;;' ::a! j! 1 i! j g!! ~-tO
:~ ~II to e- J t J i' J J j ~ ~
~ ~ R 'I "< ! i 'f:$ j! III
'" .... I ~ :. ::, ~, +e
CIIIorJJ III ::::: i i
or ... I I ~ I' I I ! i I! I 1 ~ c)
!!l ~ , , , , " " }..... ~
ij j \ I! ! 1 ! \ ~
'" r ~ i i i I Iii i ~
! ~ I i I f I! I I
" I" "'" I I'
.. i I I :1 i i 1
I I ,. ", I,
, ',' ! " : I, . i ..,
' , I., I
~,'
t' '-:,"".~~....p;tr,~'''f:,. ..... - , .~,
. ..1~. ..,.';;r".. .' '. i...-....'........r;";,~.....<. .t."". ........'...,~...'..,.,~..,'... ,.{
. .:l'.,.. . ,{!~'cJ.:l
c..0fYl;~'~L/oJ7;-.)'ENNSYLVANI~ ~ SS, :"'( ,,:ti'i:'~;.j :::V'1;'1:
...................."............".,......._..................1......."..........."... COU~TY l , " , 'er' tr: ;i
iRccudleil In the Office for Recording of Deeds, Mortg.ges, etc., in and fo~ t~e"C~ni.y ~f..~:... ...i.;IJL ,.r ('::
.......................10 Mortg.ge BOOkLC8....L.... Vol...."....=........... Page....._~.i.~. .,
NIlUUl'!l!l My Hand fd Se.1 of Office, thls.........:....:,3_'->....._._.._.__.___._..._._.........__ .............. day 01
._......___.,,_;:5cp ,~o Domini 111 q d
~J~!J~;/)c;~
BOOK 1091 PAGE 420 .
II 563 -MOl.tga~e Bond-lndlvldual to Individual
1Snow aU .men b!, tbe5e ~re5ent~t
THAT DENNIS HOKE and LINDA L. HOKE, his wife, of Silver Spring Township,
CUmber land County, Pennsylvania
held and firmly bound unto DAVID T. PIPHER and GERALDINE M. PIPHER, his wife, of
Silver Spring Township, CUmberland County, Pennsylvania
in the Slim of NINETY-'lWO THOUSAND ($92,000.00) [X)~ - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - - - lawful money of the United States of America, to
be paid to the said obligee s, their executors, adminwtrators or assigns, to which payment well
and tmly to be made, they do bind themselves, their heirs,
executors and admInistrators, and every of them, firmly by these presents. Sealed with their
seal, Dated tlw ,;).7',.4l'L- day of _~nb.",- in the year of our Lord one
thousand nine hundred ninety-t= (1992).
THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said obligor s, their
heirs, executors or administrators, or any of them, shall and do well and tmly pay, or cause to be
paid unto the said obligee s, their executors, administrators or assign;:; the sum of
Ninety-two Thousand ($92,000.00) Dollars to be repaid in the following rranner:
Obligors shall pay interest rronthly at the rate of five and one-half (5 1/2%) per
cent. Obligors shall pay on the principal from time to time as they can afford.
Obligees reserve the right to review the =rently charged rate of interest annually
and to readjust the same annually. However, obligees shall give to obligors at
least thirty (30) days written notice before IlI3king any such changes to the interest
rate. In no event shall the interest rate exceed seven and one-half (7 1/2%) per
cent. The obligees, at any time after the first twelve (12) rronths, may demand
payment of the balance of principal in full, upon giving six (6) rronths' written
notice thereof to the obligors; this pruvision, however, shall not affect any pro-
visions hereinafter set forth in regard to default in paynents of principal or
interest on the part of the obligors. In the event of the death of both obligees,
obligors shall have six (6) rronths in which to obtain carrnercial financing or some
other source of funds and shall, within that same period, payoff the rrortgage and
'bond in full.
There shall be no penalty for prepaynent.
without any fraud or further delay,. and also from time to time, and at all times until payment of
the said principal sum be made, ((S aforesaid, kecp the building mentioned in thc said Mortgage
insured for the benefit of the mortgagee ,in some good and l'eliable fire insurance company or
companies licensed to transact business in the Commonwealth of Pennsylvania, in the amount of at
least Ninety-t;...lo 'Ihousand ($92,000.00) Dollars
and take out no insurance on said building without mortga.gee or lo.~s payable clause for benefit
of obligee s, and if the obligors neglect to procure sllch fire insurance, or permit the policy or
policies evidencing the same to lapse because of non-payment of premiums or otherwise, obligees
may secure and take out such fire insurance in their O1.on name s , and the premium, or preJniums
paid therefote by obligee s shall be added to and be collected as a part of the principal 8mn due
and in the same manner, together with interest thereon at the same mte as is payable on the said
principal .~um,. and obligors further covenant to pay all taxes la.tvfullll assessed and levied by
any proper tax authority against the premises described in the said Mortgage as well as all lawful
municipal claims including charges, 'whether or not reduced to lie"s, for paving, sidewalks and
repairs thereto, sewers, and water rents charged by any munidpality or any municipal authority;
and upon demand therefore obligor s shaU exhibit to obligee s proper receipts for such taxes
and municipal claims, and that if obli.gor s neglect to pay such taxes and municipal cla,ims, obli-
-
gee s may pay the same or any part thereof and add the amount or amounts so paid, or the aggre-
gate thereof, to said principal sum and collect the same with interest thereon in the manner pro-
vided in this Bond; then the above obligation to be void, or else to be and remain in full force and
virtue, And the further condition of this obligation is such, that if at any time default shall be
made in the payment of the principal debt or any installment thereof or interest, or additions there-
to as aforesaid, for the space of 30 days after any payment thereof shall fall due, or if a
breach of any other of the foregoing conditions be made by the said obligors, their heirs, ex-
ecutors, administrators or assigns, then and in such case the said principal sum shall, at the option of
the said obligee s , their executors, administrators or assigns, become due, and the payment of
the same, with interest and costs of insurance due thereon, and additions as aforesaid, together with
an attorney's commission of five per cent. on the said principal sum, besides costs of suit, may
be enforced and recovered at once, anything herein contained to the contrary thereof in anywise
notwithstanding. And further, the obligor s do hereby empower any attorney of any court of
record of the Commonwealth of Pennsylvania to appear for them
and with or without a declaration filed in their name s, to confess a judgment or judgments in
favor of the above-mentioned obligee s , their executors, administrators, or assigns, and
against the obligors for the penal sum of
with costs
of suit, charges, and attorney's commission as foresaid; on which judgment 01' judgments one 01'
more executions may issue forthwith upon failure to comply with any of the terms and conditions
of this bond or said mortgage. The undersigned hereby forever waives and releases all errors in
said proceedings, waives stay of execution, the right of inquisition and extension of time of pay-
ment, agrees to condemnation of amy property levied upon by virtue of any such execution. and
waives all exemptions from levy and sale of any property that is or herea ter may be exempted
by law.
@.tgntll. &rulrb an~ Ibltuttrb
in Iq, 'rutne, of
~ ~~<--
,V , /Ju2." ''.uh''""',''''''d.
__n._ ."_n. '.__o"ohu. .n.___.__......_______________________ n____... .__ __..uu......_______.______hh__..________....__....._n....hn__u____n_. ~
.......
C
~
I-<
I-<
~
~
'U 0
E:-.
C
~
'U
C ,,'
0 "tl :;::;
o:l " "
~ '- '"
" 0 "
Cl k. 0.
...1- n < r// I..
, 14l1~r(;L f l-"';L1V~l-(/L ~ ;'"
~/ I
..J
-m--~---~~---F~-L-2-g-,,-~-_<Vt 5'~_
__.___1-___ __ ___._.. ___ ___.._____..___.______,,_ _____..__ __..._ ____. ___,,____________ .
CdJdA~o' Itt~ ------~ 'n. --..... .._f~ 'u__ --~~~4.1. LC,3
'?- -r~(j '?____jL?;._)~j_______:i3J.<(- L____ --..... ..~"1!3,,,:<..'S
--,-J:A,"\i>? __l ~&'__7_~_ _____33), ~y ________ un _3 q 7_7'1 h ,ry 4
"tV\<A.... ~ ,,_) JG.S-,'i?'L 33~. IS' 3'" Lft--I. 7t-
__. ___,,:____ __o" ~_______..___. _______________..____1.. ____ "'__ _...._._ _._______1_."'__
",,,,--Ct:.:-~ O~__L~'f.4_~____3 ~_S~S-:]'___.._ ...._ _} ~_ ).(", f?_
__ ,~vtE'~_JY:n ~J! e_ 3-----CLt(L3~-7fr--..- n
u.._ _,_ 'Yl'V(J "it,_03 ___mulL _ KJ~__n __ 'fa?L . t- ______ ~ g--; 7 .23 ~ 1
____ -,r(r>,-,--1",~-">__~<j' (,-6_ g________ttL~ __i.QZ" . .. ..30,>,3 () <(~ ~
7&-.-. ~_""'<..o2_ J~,-J~_ _____ . _t.l_~ f~_:t_ .---o'--J-""L~J()"}{I.
~ C1 'ffJ-tl --
~-..- ~ig> ?5_.._{f'f.]~_____~~~_~~_~_________?271"''i9s:-~"2. .
__n__q_~ ....._~_~_____~rl f_2~______ _______ Q_________L3 0tLc;~'.c!.. d
u_ ... ._Ie: L__03___~--1J, 73________~!~~-------11)fXL(,;J,q
___.j~=__/-qJ_t_-q}__l?______ .__J.~~_.___ ____ !3Z Ijr3... /0
__~~-/-~]~_____CZ_I..'_??)_,,_____ Lo~____ _3;' tt7'J.., 110
..l-/~a .,24jij AC 3. tJ:;;:~_ _ fK; ~ :~ ) t
d -/~DY- 93.73_ 0_ ___'" J'7Lfil IV-,
:3 - / -{J f ?5~. 7:.; { :~ 7'17/' I if--
':;:3- _tIVn_-__ i(3~?3- _n (1_ ...... - 57t/1/ /f/
5- / - (J 'f 9 -~ -7..3 i) .5 7lf11. Il..f J
rb.~' I~I $I m 137() H_ 0 n 37 ti1/ ILL ~.
./ TO' ~P1A/i3f~i(JIffl<Bt1/J72 ..n_ .',.D . /' 7"
t~' ./7-tJ'I E:r71wt; /)IST/?/,!ji.lT7{iN /J"<;1:6.1(:B~()O .~ ~ $Jlq~ ..
I
..... ~'''Y1-('{ II II iJk,lv(), ,X) . /f1"L(1 JLI-
_ c.t7 9 7.'7. /1, .. . C( /f-I.
( "I .,,- J' .J c-' I/If r '
/1-7/ ,c::,,)
r / ,,' ( /<-
..---. -----
~
~ -
.
/8 '(Jh/, 'I., ~ ("1 ~5 -" 7p,Y-~) 110 _,IA.
I:2 'Q..SS J -
17"1/;--1111 (} z:. L -cPr j-,il-h-j
hI' J bh ) I 0 ~L'-J-t' hIr/- (
t/ . Jb}. 1/ Q ['(. Jf ' -A [If ~.!.
. /1 'I b 77 ) I o ~c.. 'i~ J;f-J..
~rljffl ~lrv ~1'--;;:;;-- ;t~;
_ 6 ,.. "
, , ~~' :;17JPf/ '{1/'I;67 (l /3 tI (J /y /1
ROBERT P. ZIEGLER
RECORDER OF DEEDS
CUMBERLAND COUNTY - PA
'92SEP 10 PI'I 2 13
NO, 561 INDIVIDUAL MORTGAG&-SCI FA. INS ETC
QJqt!i 3ln~rnturr. !\lta~r whr
.
9At d4Y of ~~n.6L~ In thf' /I"',JT of
OUT Lord Ont! Thowrand Nine Hundred and Ninety-hoD (1992)
1Bl'tUtFl'lt ROBERT N. MARrIN and KIMBERLY L. MARTIN, his wife, of Silver Spring
Township, Cl.1mber land County, Pennsylvania, Mortgagors
and
DAVID T. PIPHER and GERALDINE 1.1. PIPHER, his wife, of Silver Spring
'Ibwnship, Cl.1mberland County, Pennsylvania, Mortgagees.
llNltl'rraS Tllf: SAID ROBERT N. MARTIN and KIMBERLY L. MARTIN, his wife, the said
>
Mortgagor S ,;11 and fl,y that aTtain Ohlignfio71 , Undl'T their
hand s and /teal S duly executed, (u'onng t"lll'lI dd(' hPr('!t'ith, sfand lJollnd unto fhe ,mirlll1ortoaga in Ih~
Him of EIGHTY-'IWO THOUSAND FOUR HUNDRED ($82,400.00) - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - Dollars, lawful nWlle.If ol th(' United
Sfllt('S, condiliollf'(J that fhe said Jlorfqa,gor S ' theiteirs. e,ucutors or administrators, shall alld do if'ell
and lnd.'l' paN, or calise to be paid 10110 II", ,~aid llfortgagee s, their ('"rfrtin atfOr1I",1/S, p:r,'cufor3, admITl
i..drator.\ or a.\'si,(fllS, Ill,' ,<;/1111 of Eighty-hoD Thousand Four Hundred ($82,400.00) Dollars to be
paid in the manner indicated on the bond executed herewith.
1\ 1t () Uh30, at all tim(',~, pa,lI all Taxes and !.-up thl' hui!dirlffS (!TPcfl.d upon the land hal"in de.'fCTihn.
insured for the benefit of th(' i.1}orfya.w'c, in some good and rr!iahlt> 5Uoch lnsurancr Compan.7! or Compan;('j
to the amount of at !ca.tf Eighty-two Thousand Four Hundred ($82,400.00) Dollars
and tnfN' 1/0 insllr(/1/('(' md on said /,uildill.'l'\', "of mad, ('(} fOT tire 'Jrnefit of the J1orlgagrt:'.
1\ It() 'he fllrlha rrmdifion (If fh,. .wid O{diflofin'l ;,\' .wrh. fhat if at (lIU/ ti1llf' (hlaII ft <;/1(111 fit, mad,. in
/hl' pfl.llmr1if of any installment of principal and
;ntf'rf'.~f as o.for/',~(lirl, for th,' .t})fl(,1' of thirty (30) ria,7!.,; (IF/t'r lI1I.'!
HOIIIIII'III ,hl'rro( shan (Ill! diU', or if a f!r/'ad, fll an'l f)f IlIr f)t/II'r fOf'("(ioiuq ('oll(!;f;olrs l,,' madr ",11 fill' .fIlid
.l!orfl!nf70r Sf their heir,lr, ('lurl/toT,';, admilli,\'frator\'. fir a,\'XirTII.<;, ffl(' said l,,-incil'af .'nI11I :-rhall, at flu OpfilHl
,,( flu' .\'lIi'! ;1Iod(l(/(/I'" S Ith~~ t','tl'("ular,'-r, adminurfrnfol',\', liT flS,\';r1rl,~ [,('("(1"", rllll'; and Pf1,1/1/H'l1f of th(' SIlII/,!',
'1'e,ilh "u' inf('rpst. Ta,r(',~, aud (,IHI or !lI,1'!II"f1llCl' r!1/.1' OU"I'nl/. for/dhl'T 1cifh an Aflornl',Ij'.f rommis,\';oll ,,(
15% pa c!'nt. on "1" .wid prillCiral .~lIm, h/'.\.idl's ('O,ffR of .fuii, nUl;'! in! pufoTad and Trc01'I'n'd at
onct',
Nom tl1i!1 llubl'ntltn' mitttl'fHil'th, that 111,. .~aid J[ortql1.rJfJrS , as 1edl a,~ {or
and in cOl1.~ideTathm n:f :wid dl'''t or 3um of $02,400.00 ])olll1r,~, and for fhe bf'/ter
.l'f'CIITinq t!If' fJfl,Ipllf'nf of '''.' ,~flm(', tnlh /!11('rr',~f. /u aflll'l',\'aid 7fnto flu' .'?aid .lJodguflt'(' S ('x('cufm's, admin-
istrafors, or as.~ir7I1.1' in fhl' di,fcllftr,o(' of soid n'(';fl rI o,,!ionlinrl , (1" (or and in con,~id('rafion of flip (IIrtlll"
Will (If Oil,. nollar, '(lTefn' /IIone,,! oron'.wid, /Info th, .Harfaqor S in hand paid 7',1/ the said M ort!7t1.'!('" S
fllf' n'r/'ip! 'tch('n'of i,~ J'Pr.'f',lf n"/"noTc'f,.r!q('(I, do hrrrh,II :fTnnf. ',"raain, "f.ll, ref('(l$f' and confiTm ,,~tllo fIll
\'nid ,110"'''0(''"1' s their },piTS 011<1 (I.1",~irr'ltr. aU
.nn.1(]~/ p\rr f:~.d
-
ALL THAT CERI'AIN tract of land with the improvernants thereon erected known
as 105 HogestcMn Road, situate in the 'Ibwnship of Silver Spring, County of Cumberland
and carm:mwealth of Pennsylvania, bounded and described as follows, to wit:
BEGINNING at a point in the center of Pennsylvania Route 114, said point being
a distance of 396.00 feet norm;est of the centerline of intersection of Pennsylvania
Route 114 and Center Road; thence along premises known as 103 HogestcMn Road, South
27 degrees 30 minutes West, a distance of 287.10 feet to a pipe (found) in line of
land now or late of Pennsylvania Railroad; thence in and along land now or late of
Pennsylvania Railroad, North 56 degrees 00 minutes West, a distance of 103.46 feet to
a pipe (found), a corner of premises known as 107 Hogestawn Road; thence in and
along premises known as 107 HogestcMn Road, North 27 degrees, 30 minutes East, a
distance of 287.10 feet to a point in the center of Pennsylvania Route 114; thence
in and along the centerline of Pennsylvania lbute 114, South 56 degrees 00 minutes
East, a distance of 103.46 feet to the place of BEGINNING.
BEING the same premises which Harold E. Picking and Esther B. picking, his wife,
by their deed dated October 1, 1986, and recorded in the Office of the Re=rder of
Leeds in and for Cumberland County, in Deed Book "P", volurre 32, Page 152, granted
and =nveyed unto Robert N. Martin and K:i1nberly L. Martin, his wife, the ~rtgagors
herein.
~OOK 1087 PAGE 685
iiloget1ll'r III ttl1 1\11 UUll Stiugular TIlE
hereditament, and appurtenanceJt whatsoever unto th, herel,!! granted prrmi,tr.f belonging, "' on an!lu.'iu
appertaining. and the reve"iol1s and remainder." rents i,t,tfle!f and profits then'of.
iilo l1aul' nUll to 110lll THE SAID
hereditament, and premises granted, or mentioned, and intended so to be. rr:ith the appurtenances,
unto Ih,. said
Mortgagee S J their heirs and assigns, to and {or tht' onl.1J prop,.r fae and [HdlOOf of the laid
MortgageeS. their heirs and assigns, fore'fJer.
1\Ull the said MortgagorS, for themselves, their heirs and assign..;, do heret,!!
covenant, promise and agree to and 'With the said ltlortgagee s. their heirs, executors, administrators and
assigns that if the said MortgagorS J theirheirs and as.'figns, ,hall neglect or refuse to kerp up the afore-
.aid Insurance, or pay all Taxes, it shall be lawful for the said 1Ilortgagee S, their heirs. executor.f,
administrators and assigns to insure the said buildings in the sum aforesaid. and pay said taxi's, and recover
the costs and expenses of 8uch Insurance or Taxes in a suit upon this l'tlortgage.
'rnuilll'll always, nevertheless, that if the sard Mortgagor s, t..,eirheirs, e,recutor.It. administrator.,
or assigns do and shall pa,'lj or cause to be paid. unto the said llfortgagu s. their executOT! ,
administrators or auigns, the said principal sum of Eighty-two Thousand Four Hundred ($82,400.00)
Dollars. laul/ul money. aforesaid. on the da,fj and time hereinbefore mentioned and appointed for the pay-
ment of the same. together with intere,ltt. Ta.xe.It, costs and charges of Insurance. as aforesaid, and without
an,1j deduction. defalcation or abatement to be made of an,1jihing for or in respect of any Ta.us, charges or
assessments 't(,'hatsoever then and from thenceforth, as 'tvel! a.It this present Indenture and i,he estate hereb,
.granted, as the said recited Obligation , shall cease, determine and lJecome void.
1\Ull 'rollilll'll also. that it shall and may be lawful for the said ft[ortgageeS. their
executors, administrators or assigns; when and as soon as the principal sum shall in any event become dtl,
Q?ld pa,l/able, as aforesaid. to sue out forthwith a 'Writ or writs of Sdre Faeius upon tlri,It Indenture of
Mortgage. and proceed thereon to judgment and execution for the recovery of said principal sum. and all
l nterest due thereon. and the cost and expenses of Insurance and Taxert as aforesaid. together u:ith an
Attorney's Commission of 15% per cent. on Baid principal sum, beside.f costs of suit, 'without sta.'l or
~.:remption from ea:ecution or other process with a full releau of errors,
3J~ IlitUl'!Hi mUl'rrof the said parties of the first part ha ve to these prcunh
It'tl ane;-~ and seal S , the day and year fird above written,
Signed. lealed and delivered in th~ ~ /
prelence of: ......{/!~..
fJ&&h!_?::k:i:4!:i2 _._~ ._...__.....~...___....._._.._________... .(SEAL)
RO~ p. ~I.N
-~...~:~.~{?~...]lLL..(ftJ..~ ; ~..1~~~J~/--...(SEAL)
---________ ...________. (SEAL) /
BOO~ 1087 PAGE 686
-....---..------.-..-..-_.__._._______ .....(SEAL)
-
STATE OF PENNSYL1'ANlA I
5S,
COUNTY OF CUMBE..."IAND ........
On the(l!!.......day af_..~~'"'-"'-::...._ ,,, ..,..,.... in the geaT One Thousand Si,u
, (1992)
l1ufldred and..."Nl.ne.ty~_two,__,_""".before me, the 8ub,criber 'u'u~ 'u..................
',..'............................. 'u....... came the above-named
l<<:lbeJ:'tN, .. /1ii1::t~JJ~l\~:r:Jy~,M9.f:.t.~J:I,.h~'3. w.H~.. ......................n....' ...I
....n....... ,.."....,.."...........,...,......,......
acknowledged the above lndenture o{ ~Iortgage to be, ..........,.. ...,..,....,th~J..,~.., ...'.......n........ .Act and Deed, and
de6;red the lanu: might be recorded a' luch.
lr,itnu, m.1f hand and .l1Q'l:ip;;i.<'!1 . ..... "aI,
:::..rii!::. t!,&dM C J"dd'~ :JJI......
~;
.-~ ,., ., - ..".. .........., ..._...",,_._,. ..............."...mh......_........, ,...... m
-'"
,C}\i...hY M,f/ commission e.rpiru NoIaIiaI Seal
.. \- - ., '.......mm......n_ "CharlesE.sn;eImIll,NotaJy Public
-",/ .. Mechanlcsbl"Q Boro, Cumberland County
\\.1
"'11\ \..' . My Cammissloo Expires June 20, 1996
Member, Penns}1van",AssOOalian of Natanes
'':'L.._~'rrrby certify that the Precise Residence of the ~loTtgagee S . and personS entitlt'd to Intern'
on thi. Martgag., i.Lf...J..~-lfpf?$..h:.~'.!.LJ?d. /J1t>d/cUJ,CSbU '(J' P/l /7oJJ
....t?1~g'~@..~mm
.4110rn.y for ... .........M:u::tggge.es....
(Ai rs.J
(') B "C .., q 0
~ g am ~ Q " ~
'~ Q ~
" q " ~ " 2-
0> q ~ <=" tn
So ~ l ;;- ~
'" ,I 0
0 " ~
n . .. ~ 3
". .' 0
~ , Q "
Cl I o ~
,., n
0 0 b z
..,. ! " r
.,.~ '"
8 ~ ~
. c i ;' !;D
'"'" :lO1 "'" 0. ~ So 1; +-+-
<no ~ ! ~
:b,'j \Q &I i . u:.
o 1 , ~ :
" , ! 0 ! fe ~
.. 0.' '"
i!lo> q I i .... . ~ G;'
:I: '--......~~ U::
~ ." ~
~ I "'
ij
'!' ..
.., i !
a ,
~~~1~I:~'41>!~~I~~NNSYL::l:TY } S8,
I{trodle~ In the Office for Recording of Deeds~ Morlguges, etc., in and (or the County of ..,Q,~,":i~~.J2:.
in Mortgage BooL/DC,;!..... Vol......-.- ...... l'age0'6..i
... ... .--Jh
_ BlUUt!!!! M,. {land anll Seal of Office, this .,..,.. ,1.,9..........,... n...___...... ........._.... .. ...m day 01
.'. 'lit"1" ,C (>L "q
i-'t"/:~!' ":... . "m...~ .l...............mAnno DODlln. Ig . ~
C(:. '~",?. . .
"j'iI /..._,.~".. "t::'
OJ: ~''lJ-'';'' .-;:.'
;.' ...\;.~J.~.r,; 'A" ':,: ~."'~;-::~?)~:;i::~, ~,o~~
. 1\"!,,i~,~J:,.,-, -~.:,<;
_'". ;il~~:~:.~!L,~f'<~~\~t rJ ,;'-\~l"' 687
-; . \~'''~i .'~,$1ii..,..' bOOK 1087 PACE
';j '~:) ..' :;~:'~J~I"~.y-, ~~.~ \j\Q CU\ duJ\
. . ~.....i""i ':1~"4 .
, ,'4::1l'"-,~_,,,~~~,; ~":, ;L'~-.'
fl 563 -MOI.tgaee Bond-IndivIdual to Individual
1Snotu aU :$Mtn 11!, tbt~t ~rt~tnts,
THAT ROBERT N. MARTIN and KIMBERLY L. MARTIN, his wife, of Silver Spring
'Ibwnship, CUmberland COunty, Pennsylvania
held and firmly bound unto DAVID T. PIPHER and GERAIDINE M. PIPHER, his wife, of
Silver Spring 'Ibwnship, CUmberland County, Pennsylvania
in the sum of EIGHTY-'IWO THOUSAND FOUR HUNDRED ($82,400.00) DOLLARS - - - - -
- - - - - - - - - - - - - - - - - - - lawful money of the United States of America, to
be paid to the said obligee s, their executors, administrators or assigns, to which payment well
and truly to be made, we do bind oursel ver, our heirs,
executors and administrators, and every of them, firmly by these presents. Sealed with our
seal. Dated the 9/1, day ofvt:p&!iJi.he.t- in the year of our Lord one
thousand nine hundred ninety-h'O (19Q7). .
THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said obligo1S, their
heirs, executors or administrators, or any of them, shall and do well and truly pay, or cause to be
paid unto thc said obligee s, their executors, administrators or assigns the sum of
Eighty-two Thousand Four Hundred ($82,400.00) Dollars to be repaid in the following
manner:
Obligors shall pay interest monthly at the rate of five and one-half (5 1/2%) per
cent. Obligors shall pay on the principal fran time to time as they can afford.
Obligees reserve the right to review the =rently charged rate of interest annually
and to readjust the same annually. However, obligees shall give to obligors at
least thirty (30) days written notice before making any such changes to the interest
rate. In no event shall the interest rate exceed seven and one-half (7 1/2%) per
cent. The Obligees, at any time after the first twelve (12) months, may denand
payil'<'mt of the balance of principal in full, upon giving six (6) months I written
notice thereof to the obligors; this provision, however, shall not affect any pro-
visions hereinafter set forth in regard to default in payments of principal or
interest on the part of the obligors. In the event of the death of both obligees,
obligors shall have six (6) months in which to obtain commercial financing or some
other source of funds and shall, within that said period, payoff the rrortgage and
lJOnd in full.
'll1ere shall be no penalty for prepayment.
without any fraud or further delay; and also from time to time, and at all times until payment of
the said principal sum be made, as aforesaid, keep the building mentioned in the said Mo,.tgage
insured for the benefit of the mortgagee s, in some good and ,'eliable fire insurance company or
companies licensed to transact business in the Commonwealth of Pennsylvania, in the amount of at
least Eighty-two Thousand Four Hundred ($82,400.00) Dollars
and take out no insurance on said building without mortgagee or loss payable clause for benefit
of obligee s, and if the obligor s neglect to procure such fire insurance, or permit the policy or
policies evidencing the same to lapse because of non-payment of premiums or otherwise, obligee
may secure and take out such fire insurance in their own name S , and the premium or premiums
paid therefore by obligee s shall be added to and be collected as a part of the principal sum due
and in the same manner, together with interest thereon at the same rate as is payable on the said
principal sum; and obligors further covenant to pay all taxes lawfully assessed and levied by
any proper tax authority against the premises described in the said Mortgage as well as all lawful
municipal claims including charges, whether or not reduced to liens, for paving, sidewalks and
repairs thereto, sewers, and water rents charged by any municipality or any municipal authority;
and upon demand therefore obligor s shall exhibit to obligee s proper receipts for such taxes
and municipal claims, and that if obligor s neglect to pay such taxes and municipal claims, obli-
~
gee may pay the same or any part thereof and add the amount or amounts so paid, or the aggre-
gate thereof, to said principal sum and collect the same with interest thereon in the manner pro-
vided in this Bond; then the above obligation to be void, or else to be and remain in full force and
virtue. And the further condition of this obligation is such, that if at any time default shall be
made in the payment of the principal debt or any installment thereof or interest, or additions there-
to as aforesaid, for the space of 30 days after any payment thereof shall fall due, or if a
breach of any other of the foregoing conditions be made. by the said obligor 5, their heirs, ex-
ecutors, administrators or assigns, then and in such case the said principal sum shall, at the option of
the said obligee 5, their executors, administrators or assigns, become due, and the payment of
the same, with interest and costs of insurance due thereon, and additions as aforesaid, togethe!' with
an attorney's commission of jive per cent, on the said principal sum, besides costs of suit, m"y
be enforced and recovered at once, anything herein contained to the contrary thereof in anywise
notwithstanding, And further, the obligor 5 do hereby empower any attorney of any court of
record of the Commonwealth of Pennsylvania to appear for them
and with or without a declaration jiled in their name 5, to confess a judgment or judgments in
favor of the above-mentioned obligce 5, their executors, administrators, or assigns, and
against the obl~gor5 for the penal sum of
with cos ts
of suit, cha!'ges, and attorney's commission "s foresaid; on which judgment or judgments one or
more executions may issue forthwith upon failure to comply with any of the terms and conditions
of this bond or said mortgage, The undersigned hereby forever waivq and releases all err01"S in
said proceedings, waives stay of execution, the right of inquisition and extension of time of pay-
ment, agrees to condemnation of any prope'rty levied upon by virtue of any such execution, and
waives all exemptions from levy and sale of any p;aroperty, that is ?r hereafter may be exempted
by law. ']' tt=
' 1...A::tfj, _
@tlgnrb. 8'nlr~ ani'l IItlhlutb .I, / ~,I'"
, ('1' . """," ~
/,/ /' '" '..,'....;, , ..~~.... ..L. t ..... .....~
L_?t/h.~t4:4_~d4!~J~~ynL-:-~i~J--~.(1.\.nnnn-,)nnn.nn ~
.._h..'hn..._nh____ .-__....uhn___.___nu___.._....._....hn ... u...._.nu_.__n______________h_____________________________.__.___Uh________~
'1 ! 1, t fy..' tt, '
"';1 '1'
......
c:
C\\
I-.
I-. C\\
:s
.-r-; 0 .1. .
U ~ ',1
c:
C\\
'"0
c: _
o ~ ~
fV'\ " '"
I-I-l ~ "- ~
'" C '"
Q k. Q..
~ j I .' ,r B-t,...J~ Jy\. ClG'tT~
~~1"--' '!-
...
:: , ~~ :it 4,,,, ' l~ -;},. 0 "3 eLf- S- F-O-<-....L:.:--
I ~~
I ~ ~. ~~T'--.. Co ~ /45-
/. " I
!II,-l;,) ~ ),J"S,'v [3<1.<.(-0 ~J C,(( 3
'1-"f'l 1-<-1:. .1 cs- ,0'-1 ( 3 <f .1 " C,3 '! 7 r:. '3 <
,1 .
\fl./" I "'-1l1~ ~ (.<-/, 'I't 13s-:S~ (035Y-o l?:z.
I ----- --.~ __.________ ____ ~
I
~~I,O) d-3~
,
!
t-'4 ""'.J-, d () '3 / ~ - '6". G- s - 3 <-f ( ,G, <; Co Z,J <} q .J 1
'YYl ~ I.. <'> , '" '7 (s-J 'f q 3 'i 1." ~ I Co~) (" s &', G:, (.,
ir1-U- 03 t J.... c. ,r.. <-( '3q... 3 .:3> '" to", 3 13,3 0
D.:7 I $-~-. 1.1 3 4- <f ~ A :3 , " ~ (", f. 0 7
<l.3 J 5''1- . r f'?; 4 S" C'1' &. \ / {,1 3, "/ tt
(t. /tI,,~ /5'/. ()b j'f~ I q<; & I) ~7f". 0 If
': C r <1/ Z'3 / .!J- 3, I I 3 if/:,.. f?" / " bo / c; 3/ .~} _
Vlll /dl t/3 / S:;Z.33 J if7! 67 I>. 6c)/ .503~ 5,~_
1)8:- ;t)1 tl3 /.3 I, 'f0 3'-f 3. 5lf :Y 60 I J-:5 ~ "c .
--, . /Nr/Zei .: t:Jt! ~ - 3 ,~-ru@ r > ~lt~~~ I_
I -r/tl -{;' '/ / !?().S,? ] if:! iff., .J71 Y(..5> ~ 3 .
t ~/:J' c'U /1f9,7/ 3.!Jo.:J..l 57 !?3~ ::z
]:'/I-OY- l'f'i''?f 35/, I, 5'1 /::-" IC"
. , (; '3 5-2 rJ If s y r ,);L.., 1.1--
'l_If).oL/ 1'-17, Cf , . ., 01 ;--"cy </7 (.1- CJ-0 .
, /u7 dt 35,1, 'ex.. ~r.J _
~- 5'. ell( 7 " ,3. go 5".') / .J-'L' tf-o I'
";, .. /0- () Y ! t..f h . ,;}-. 0 u(1ov 3 OCO I 00 /j,tJ J.~5) '1--0
, 'd1-1 v L 6-<-r/.fl-tlJ 1/,,' EPI{} 1k11 t-4;f1I1CVt5rn~ ( :3 /,pJ.1 :3 j', ~,I
~/71 -Vi r 3f?7, Ii T7 .
7 ot.( / / ;J., 'l/ _ I ,___ !1'-I3'7U1 ;)6 .
-If) - + tJ I, 1f!5 ~?3%116 4</.-1ST, Ob
~I/~~~)lf !ltJ,f~ -r9()/!L bf39bL',ICf,Z-
l/t .' //C/S-r '~q) I,) I..j Iii] (j--rJ'T
7c/,-{/'-( I()"l,,/{J ';1.'(,/L. r;;;''1 ,81 ~
. ',- ,! 'i '-c.~ '/79 /)3 c>wLt I /q:J.,~ .
,l ._ . . , to c: r/I}!'fc--t( 1:" I , , ...? I / l/ 'l..tJ,o.Iu.I"'-. ( . "'j<'" )
/ / ---,C~ ,-," M\-<...I.I ,,- I / "d lIt. 1-
.-1'-- L. r - ,., I _J J nt/I/I ... ,
..;> , ') (;I(/lxJI' - ~
,~ (F
~,
c-
~
.5"J- ':.ISO) (9cr.. ~
0+> . <7 <76' /...5 _ t31'tJ~ ''9P tljd) ;Jrnf 7Y-r:ro
.5? '.,.s ~ 'j It lJi!/zrj 1
?/ '5LL - '''7 ~dd 5' j 7J'T' ); r 3Y f'r'9 ./JIlI !JJjIi .
/r/~ h ('Zh21 ' ! '-j
., ,., ..J "/'II Y '"1/'h'_
~ <:,-~:7.:. >'.--L I .. ,'1. ,_.!t"t/ .':-, ?( /
/; . , .. i/" I.' ,./ /~), /'
COMMONWEALTH OF PENNSYLVANIA REV-l'62 EX(1'-96)
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPT. 280601
HARRISBURG, PA 17128-0601
PENNSYLVANIA
RECEIVED FROM: INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
NO. CD 005170
SHIELDS CHARLES E III
6 CLOUSER ROAD
MECHANICSBURG, PA 17055
ACN
ASSESSMENT AMOUNT
CONTROL
NUMBER
__nnn fold ---------- ____n__
101 I $32,761,25
ESTATE INFORMATION: SSN, 204-01-5442 I
FILE NUMBER: 2103-0750 I
DECEDENT NAME: PIPHER GERALDINE M I
DATE OF PAYMENT: 04/06/2005 I
POSTMARK DATE: 04/06/2005 I
COUNTY: CUMBERLAND I
DATE OF DEATH: 08/31/2003 I
I
TOTAL AMOUNT PAID: $32,761,25
REMARKS:
CHECK# 2134
INITIALS: JA
SEAL RECEIVED BY: GLENDA FARNER STRASBAUGH
REGISTER OF WILLS
REGISTER OF WILLS
Marjorie A, Wevodau
Glenda Farner Strasbaugh First Deputy
Register of Wills
and Kirk S. Sohonage, Esq
Clerk of Orphans' Court Solicitor
Register of Wills and Clerk of the Orphans' Court
County of Cumberland
One Courthouse Square
Carlisle, PA 17013
(717) 240-6345
FAX (717)240-7797
I INVOICE I
Bill To: InvoiceNo: 293
Invoice Date: 4/6/2005
CHARLES E. SHIELDS, III, ESQ, Estate of: GERALDINE M. PIPHER
6 CLOUSER LANE Estate No: 21-03-0750
JA
MErnANlCSBURG, PA 17055
Qty Fee Description Fee Total
1 Additional Probate 750,00 $750,00
Total: $750.00
d1ecks should be made payable to the Register of Wills. Tenns: Net 30,
Please return one copy of this invoice with your payment. Thank you,
Marjorie A. Wevodau
Glenda Farner Strasbaugh First Deputy
Register ot Wills
and
Kirk S. Sohonage, Esq
Clerk ot Orphans' Court Solicitor
Register of Wills and Clerk of the Orphans' Court
County of Cumberland
One Courthouse Square
Carlisle, PA 17013
(717) 240-6345
FAX (717)240-7797
I INVOICE I
Bill To: InvoiceNo: 293
Invoice Date: 4/6/2005
Q-iARLES E, SHIELDS, III, ESQ, Estate of: GERALDINE M. PIPHER
6 ClOUSER LANE Estate No: 21-03-0750
JA
MECHANICSBURG, PA 17055
Qty Fee Description Fee Total
1 Additional Probate 750,00 $750.00
Total: $750.00
~d .,,,-
vChYck -#=-dI5'6
(,.J'.)
Olecks should be made payable to the Register of Wills. Terms: Net 30,
Please return one copy of this invoice with your payment, Thank you.
J-.
COMMONWEALTH OF PENNSYLVANIA *'
DEPARTMENT OF REVENUE
.-.... ,-.--,., NOTICE OF INHERITANCE TAX
BUREAU OF INDIVlDUA~TAXES APPRAISEHENT, ALLOWANCE OR DISALLOWANCE
INHERITANCE TAX DIVISION OF DEDUCTIONS AND ASSESstlENT OF TAX
PO BOX Z80601
HARRISBURG PA 171Z8~D6Dl REV-1547 EX AFP (06-05)
n ::',1 ;-' Pi': I: :~3 DATE 06-20-2005
...\..-.1 I J . v PIPHER
ESTATE OF GERALDINE M
DATE OF DEATH 08-31-2003
ORPH"J" FILE NUMBER 21 03-0750
.. ""."_ COUNTY CUMBERLAND
CHAR L Es'EUS'itfEt DS ttI ACN 101
6 CLOUSER LN APPEAL DATE: 08-19-2005
MECHANICSBURG PA 17055 (See reverse side under Objections)
Amount Remitted I I
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALONG THIS LINE -+ RETAIN LOWER PORTION FOR YOUR RECORDS -
-------------------------------------.-----------------------------------------------------
REV-1547 EX AFP (03-05) NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF PIPHER GERALDINE M FILE NO. 21 03-0750 ACN 101 DATE 06-20-2005
TAX RETURN WAS: (X I ACCEPTED AS FILED ( I CHANGED
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Real Estate (Schedule AJ (II 1,105,776.73 NOTE: To insure proper
2. Stocks and Bonds (Schedul. BI (2) 49.724.10 credit to your account,
3. Closely Held Stock/Partnership Interest (Schedule C) (31 .00 submit the upper portion
of this for. with your
~. Hortgages/Notes Receivable (Schedule DJ (4) 104,473.26 tax pay_nt.
5. Cash/Bank DepositslHisco Personal Property (Schedule E) {51 69.702.73
6. Jointly Owned Property (Schedule F) (61 .00
1. Transfers (Schedule G) (71 860,112.50
8, Total Assets (8) 2,189,789.32
APPROVED DEDUCTIONS AND EXEMPTIONS: 127,357.22
9. Funeral Expanses/Ad.. Costs/Misc. ~xpenses (Schedule H) (9)
10. Debts/Mortgage Liabilities/Liens (Schedule 1) 1101 1.071.00
11. Total Deductions (111 1?R.4?R ??
12, Net Value of Tax R.turn (12) 2,061,361.10
13, Charitable/GoyernDenta! Bequestsj Non-elected 9113 Trusts ($chadule J) (13) .00
14. Net Value of Estate Subject to Tax 1141 2,061,361.10
NOTE: I~ an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will
reflect ~igures that include the total o~ Abb returns assessed to date.
ASSESSMENT OF TAX: .00 X 00
IS. Amount of Line 14 at Spousal rat. (151 = .00
16. A~unt of Line 14 taxable at Lineal/Class A rate (16) 2,061,361.10 X 045 = 92,761.25
17. Anount of Line 14 at Sibling rat. 1171 .00 X 12 = .00
18. Amount of Line 14 taxable at Collateral/Class 8 rat. (181 .00 X 15 = .00
19. Principal Tax Due 1191= 92,761.25
TA C D S:
+ AHDUNT PAID
DATE NUMBER INTEREST/PEN PAID (-)
11-24-2003 CD003280 1,500.00 28,500.00
07-02-2004 CD004122 .00 30,000.00
04-06-2005 CD005170 .00 32,761. 25
BALANCE OF UNPAID INTEREST/PENALTY AS OF 04-07-2005 TOTAL TAX CREDIT 92,761. 25
'1 BALANCE OF TAX DUE .00
INTEREST AND PEN. 1,307.68
TOTAL DUE 1,307.68
. IF PAID AFTER DATE INDICATED, SEE REVERSE I IF TOTAL DUE IS LESS THAN $1, NO PAYHENT IS RElIUIRED.
FOR CALCULATION DF ADDITIONAL INTEREST. IF TDTAL DUE IS REFLECTED AS A "CREDIT" ICRI, YOU HAY BE DUE
A REFUND. SEE REVERSE SIDE OF THIS FDRH FDR INSTRUCTIONS.I
COMMONWEALTH OF PENNSYLVANIA *'
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL(1}XES NOTICE OF DETERMINATION AND
ASSESSMENT OF PENNSYLVANIA
INHERITANCE TAX DIVISION,:,': ESTATE TAX BASED ON FEDERAL
PO sox Z80&Dl ESTATE TAX RETURN REV-483 EX AFP (03-051
HARRISBURG PA 17128-0601
(",- JU:J 17 r'<1 ' ~" DATE 06-20-2005
(, j 1; V.J ESTATE OF PIPHER GERALDINE M
DATE OF DEATH 08-31-2003
FILE NUMBER 21 03-0750
CHARLES~E~~ElD;:~(iT COUNTY CUMBERLAND
ACN 201
6 CLOUSER'LN I AlIOunt R..1i Heel I
MECHANICSBURG PA 17055
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
NOTE: To insure proper credit to your account, sub.it the upper portion of this for. with your tax paynent.
CUT ALONG THIS LINE ... RETAIN LOWER PORTION FOR YOUR FILES .....
UV.:'IiAri!I.AfIl.T6r-WJ.....ij('''AlIyter.6'~.w:twYllm!W.lW'.lsiM~!l'M!A,..............................
OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN --
ESTATE OF PIPHER GERALDINE M FILE NO.21 03-0750 ACN 201 DATE 06-20-2005
ESTATE TAX DETERMINATION
l. Credit For State Death Taxes as Verified 22.639.96
2. Pennsylvania Inheritance Tax Assessed 91, 261. 25
(Excluding Discount and/or Interest)
3. Inheritance Tax Assessed by Other States .00
or Territories of the United States
(Excluding Discount and/or Interest)
4. Total Inheritance Tax Assessed 91,261.25
5. Pennsylvania Estate Tax Due .00
TAX CREDITS:
PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID I
DATE NUMBER INTEREST/PEN PAID (-)
TOTAL TAX CREDIT .00
BALANCE OF TAX DUE .00
INTEREST AND PEN. .00
TOTAL DUE .00
-IF PAID AFTER THIS DATE, SEE REVERSE SIDE (IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED
FOR CALCULA nON OF AODITIIlIIAL INTEREST. IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CU, YOU MY BE -"
DUE A REFUND. SEE REVERSE SIDE OF THYS FngM A:'nD T~"'_ .,......_a._
-
COMMONWEALTH OF PENNSYLVANIA REV.1162 EX(11-96)
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
DEPT. 280601
HARRISBURG, PA 17128-0601
PENNSYLVANIA
RECEIVED FROM: INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
NO. CD 005525
HOKE LINDA L
501 HOLLY LANE
MECHANICSBURG, PA 17050
ACN
ASSESSMENT AMOUNT
CONTROL
NUMBER
n______ fold u________ ____u__
101 I $1,307,68
ESTATE INFORMATION: SSN: 204-01-5442 I
FILE NUMBER: 2103-0750 I
DECEDENT NAME: PIPHER GERALDINE M I
DATE OF PAYMENT: 07/05/2005 I
POSTMARK DATE: 07/05/2005 I
COUNTY: CUMBERLAND I
DATE OF DEATH: 08/31/2003 I
I
TOTAL AMOUNT PAID: $1,307,68
REMARKS:
CHECK# 2155
INITIALS: CCP
SEAL RECEIVED BY: GLENDA FARNER STRASBAUGH
REGISTER OF WILLS
REGISTER OF WILLS
COMMONWEALTH OF PENNSYLVANIA *'
DEPARTMENT OF REVENUE
C::(\(';G")Cn :,:=\,=\01= (Ie INHERITANCE TAX
BlJIlEAU OF INDIVIDUAI=\'l'AxeS-J 'J , 'l,~ '-'
INHERITANCE TAX DIYISIIlfrCC/:i', ,.n; ,'I, STATEMENT OF ACCOUNT
PO BOX Z806D1
HARRISBURG PA 171Z8-06D1 REV-1607 EX AFP (03-05)
'fntt:; ;.'!'f'"' I? 0" '. 01 DATE 08-08-2005
L--.;',,:'; .-'ii....,) !- i"i'; j"
ESTATE OF PIPHER GERALDINE M
r.r eel! (~--: DATE OF DEATH 08-31-2003
'" ._~ ., .," FILE NUMBER 21 03-0750
<')~
" COUNTY CUMBERLAND
'"
CHARLES'~ SHIELDS III ACN 101
6 CLOUSER LN I Anount R..1 tt.d I
MECHANICSBURG PA 17 055
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
NOTE: To insure proper credit to your account I submit the upper portion of this for. with your tax payment.
CUT ALONG THIS LINE - RETAIN LOWER PORTION FOR YOUR RECORDS -
---------------------------------------------------------------.--.--------
REV-1607 EX AFP (03-05) *** INHERITANCE TAX STATEMENT OF ACCOUNT Jf**
ESTATE OF PIPHER GERALDINE M FILE NO.21 03-0750 ACN 101 DATE 08-08-2005
THIS STATEMENT IS PROVIDED TO ADVISE OF THE CURRENT STATUS OF THE STATED ACN IN THE NAHEO ESTATE. SHOWN BELOW
IS A SUHHARY OF THE PRINCIPAL TAX DUE, APPLICATION OF ALL PAYMENTS, THE CURRENT BALANCE, AND, IF APPLICABLE,
A PROJECTED INTEREST FIGURE.
DATE OF LAST ASSESSMENT OR RECORD ADJUSTMENT: 06-20-2005
PRINCIPAL TAX DUE: 92,761. 25
PAYMENTS CTAX CREDITS):
PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID
DATE NUMBER INTEREST/PEN PAID (-)
11-24-2003 CD003280 1,500.00 28,500.00
07-02-2004 CD004122 .00 30,000.00
04-06-2005 CD005170 .00 32,761.25
07-05-2005 CD005525 1,307.68- 1,307.68
TOTAL TAX CREDIT 92,761.25
BALANCE OF TAX DUE .00
INTEREST AND PEN. .00
IF PAID AFTER THIS DATE, SEE REVERSE TOTAL DUE .00
.
SIDE FOR CALCULATION OF ADDITIONAL INTEREST.
( IF TOTAL DUE IS LESS THAN $1,
ND PAYHENT IS REQUIRED.
IF TOTAL OUE IS REFLECTED AS A "CREDIT" (CRI, ~Sv...
YOU HAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORH FOR INSTRUCTIONS. I
Cumberland County - Register Of wills
One Courthouse Square
Carlisle, PA 17013
Phone: (717) 240-6345
Date: 7/05/2006
SHIELDS CHARLES EDWARD III ESQ
SIX CLOUSER ROAD
MECHANICSBURG, PA 17013
RE: Estate of PIPHER GERALDINE M
File Number: 2003-00750
Dear Sir/Madam:
This notice is to serve as a reminder that the Status Report by
Personal Representative under Rule 6.12 is due on the below listed
date.
As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, NO. 103
SUPREME COURT RULES DOCKET NO.1, for decedents dying on or after
July 1, 1992, the personal representative or his counsel, within two
(2) years of the decedent's death, shall file with the Register of
Wills a Status Report of completed or uncompleted administration.
This filing lS due by:
8/31/2006
Please feel free to contact this office with any questions you may
have. If you have already filed your Status Report, please disregard
this notice.
Sincerely,
L' r '" "" rL'",
tt r,' ,', .I,', ", ','/
iJ ' (i ^ ' 1/;1.., , " '
,JJ,.&~ '~~VjJ~ "
,....,l~~d- k'-~n~"~ S;.-,~-~1-_,/'~if-,
I..;r Cll a. ..L.. el.L 1C.L L..L a.i::JJ..)o.~.u.
Clerk of the Orphans' Court
cc: File
Personal Representative(s)
~.
\
Cumberland County - Register Of Wills
One Courthouse Square
Carlisle, PA 17013
Phone: (717) 240-6345
Date: 7/05/2006
HOKE LINDA L
501 HOLLY LANE
MECHANICSBURG, PA 17050
RE: Estate of PIPHER GERALDINE M
File Number: 2003-00750
Dear Sir/Madam:
This notice is to serve as a reminder that the Status Report by
Personal Representative under Rule 6.12 is due on the below listed
date.
As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES, NO. 103
SUPREME COURT RULES DOCKET NO.1, for decedents dying on or after
July 1, 1992, the personal representative or his counsel, within two
(2) years of the decedent's death, shall file with the Register of
wills a Status Report of completed or uncompleted administration.
This filing is due by:
8/31/2006
Please feel free to contact this office with any questions you may
have. If you have already filed your Status Report, please disregard
this notice.
Sincerely,
I'l' S;:' '~';
,;/r ,""" , V
;" , '. / "'A:~'
1{'~4J:AL' . 1;Jt4'IiEi$'/...".J& A v
I"'J/~. "',A.IY~ /./
_/
Glenda Farner Strasbaugh
Clerk of the Orphans' Court
cc: File
Counsel
,"^
""
Cumberland County - Register Of wills
One Courthouse Square
Carlislel PA 17013
phone: (717) 240-6345
Date: 7/05/2006
PIPHER RONALD K
102 HOLLY LANE
MECHANICSBURGI PA 17050
RE: Estate of PIPHER GERALDINE M
File Number: 2003-00750
Dear Sir/Madam:
This notice is to serve as a reminder that the Status Report by
Personal Representative under Rule 6.12 is due on the below listed
date.
As per the AMENDMENTS TO SUPREME COURT ORPHANS' COURT RULES I NO. 103
SUPREME COURT RULES DOCKET NO. 11 for decedents dying on or after
July 11 19921 the personal representative or his counsell within two
(2) years of the decedent's deathl shall file with the Register of
Wills a Status Report of completed or uncompleted administration.
This filing lS due by:
8/31/2006
Please feel free to contact this office with any questions you may
have. If you have already filed your Status Report I please disregard
this notice.
SincerelYI
J~f;~~
,/ .I
Glenda Farner StrasbaugTl
Clerk of the Orphans' Court
cc: File
Counsel
~
"
STATUS REPORT UNDER RULE 6.12
Name of Decedent: NE\\ L
Date of Death: <75 I~ zo04
Will No. 'Z004 - 0 \ I 4S
81r5h
Admin. No. Z/-OY- J/~5
Pursuant to Rule 6.12 of the Supreme Court Orphans'
Court Rules, I report the following with respect to completion of
the administration of the above-captioned estate:
1. State whether administration of the estate is complete:
Yes)( No
2. If the answer is No, state when the personal
representative reasonably believes that the administration will be
complete:
3. If the answer to No.1 is Yes, state the following:
a. Did the personal representative file a final
account with the Court? Yes No 'x'
b. The separate Orphans' Court No. (if any) for
the personal representative's account is:
c. Did the personal representative sta~e an
account informally to the parties in interest? Yes X No
d. Copies of receipts, releases, joinders and
approvals of formal or informal accounts may be filed with the
Cerk of the Orphans' Court and may be attached to this report.
Date:
7//0)0c"
C'\
ohn C Oszusmwicz
Name (Please type or print)
JOLf S Hanover 51. I Corllsle PA 170t
Address /
(1/7) 2-43 - 7Y-37
Tel. No.
(MAH:rmf/AM3)
Capacity: Personal Representative
X Counsel for personal
representative
~
STATUS REPORT UNDER RULE 6.12
Name of Decedent: Geraldine M. Pipher
Date of Death: August 31, 2003
Will No.
Admin. No.
21-03-0750
Pursuant to Rule 6.12 of the Supreme Court Orphans'
Court Rules, I report the following with respect to completion of
the administration of the above-captioned estate:
1. State whether administration of the estate is complete:
Yes+ No
2. If the answer is No, state when the personal
representative reasonably believes that the administration will be
complete:
3. If the answer to No.1 is Yes, state the following:
a. Did the personal r~resentative
account with the Court? Yes No .
b. The separate Orphans' Court No.
the personal representative's account is:
file a final
(if any} for
c. Did the personal representative state an
account informally to the parties in interest? Yes ~ No
,
d. Copies of receipts, releases, joinders and
approvals of formal or informal accounts may be filed with the
Cerk of the Orphans' Court and may be attached to this report.
~P;~~
-; IV/~6
Date:
Charles E. Shields, III, Esquire
Name (Please type or print)
j'./
6 Clouser Road, Mechanicsburg, PA 17055
Address
( 717 ) 766-0209
Te 1. No.
SI-J :11~r1 itZ IflCSDUlcapacity:
Personal Representative
(MAH:rmf/AM3)
:~HJJC)
x
Counsel for personal
representative
("'
V