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HomeMy WebLinkAbout09-02-09 (3)1505607120 REV-1500 EX (06-05) OFFICIAL USE ONLY PA Department of Revenue County Code Year File Number Bureau of Individual Taxes INHERITANCE TAX RETURN 2 1 0 8 12 6 7 PO BOX.280601 Harrisburg, PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 186 24 8627 12 04 2008 O1 13 1933 Decedent's Last Name Suffix Decedent's First Name MI MORRISON LEON C (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI MORRISON JEANNETTE Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW IrX 1. Original Return I i, 2. Supplemental Return ~_ L__ r- ^ Future Interest Com romise 4. Limited Estate ~ 4a. p - -- J (date of death after 12-12-82) X g Decedent Died Testate j X ~ ~ Decedent Maintained a Living Trust - - (Attach Copy of Will) ~J (Attach Copy of Trust) 3. Remainder Return (date of death prior to 12-13-82) ~I 5. Federal Estate Tax Return Required ~ 8. Total Number of Safe Deposit Boxes ;, 9. Litigation Proceeds Received r ~~ 1 p, Spousal Poverty Credit ((date of death f 1 11. Election to tax under Sec. 9113(A) ~- -. between 12-31-91 and i-1-95) `__ ' (Attach SCh. O) CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number SUSAN E. LEDERER 71.7 6`52 7323 Firm Name (If Applicable) L.O. OF SUSAN E. LEDERER First line of address 5011 LOCUST LANE Second line of address City or Post Office State ZIP Code HARRISBURG PA 17109 REGISTER ILLS USE JLY ::O ~~;t cn , _~ C~7 V i . - - !-Tl 1 <.;~t7 l ~ ~ iV is_ i_ ' ~_J ~~ i -'-. ~. ~' ~'~ ~ DAT-~FlL~ED ' .~"' Correspondent's a-mail address: S u s a n @ l e d e r e r l a w. c o 1'1'1 Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative Is based on all information of which preparer has any knowledge. SIG OF PER N RESPONSI FOrG~NGC RF,~1RN DATE ^~~/T~/j Sondra L. McCoy g--~'l -(,,~9 ADDRESS 51 Hoy Road, Carlisle, PA 17013 SIGN rrURE OF PREPARER OTHER THAN REPRESENTATIVE D E Susan E. Lederer 3 ~ AD RESS 5011 Locust Lane, Harrisburg, PA 17109 Side 1 L 1505607120 1505607120 J Lsas6o~220 REV-1500 EX Decedent's Social Security Number Decedent's Name: L e O h C. Morrison 18 6 2 4 8 6 2 7 RECAPITULATION 1. Real Estate (Schedule A) ...................................................................................... 1. 647,000.00 2. Stocks and Bonds (Schedule B) ..............................__............................__............. 2. 3,774.60 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C).......... 3. 4. Mortgages 8 Notes Receivable (Schedule D) ..............................__........................ 4. 885,216.00 5• Cash, Bank Deposits 8 Miscellaneous Personal Property (Schedule E) ................ 5. 977,610.74 6. Jointly Owned Property (Schedule F) ~ Separate Billing Requested ............. 6. 7. Inter-Vivos Transfers 8~ Miscellaneous Non-Probate Property (Schedule G) ~ Separate Billing Requested ............. 7. 6 1 2, 0 0 0. 0 0 8. Total Gross Assets (total Lines 1-7) ............................._.._...........................__..... g. 3 , 12 5 , 6 0 1 . 3 4 9. Funeral Expenses 8 Administrative Costs (Schedule H) ...................................... 9. 169,267.04 10. Debts of Decedent, Mortgage Liabilities, 8 Liens (Schedule I) ................................ 10. 8, 467 .72 11. Total Deductions (total Lines 9 8~ 10) .............................__............................_ . _ ... 11. 1 7 7, 7 3 4. 7 6 12. Net Value of Estate (Line 8 minus Line 11) ..............................__. .......................... 12. 2 , 9.4 7 , 8 6 6 .. 5 8 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) ........................ ............. 13. 2 , 4 3 5 , 8 8 2 . 0 8 14. Net Value Subject to Tax (Line 12 minus Line 13) .............................__.. ............. -- --- 14. 5 1 1 , 9 8 4 5 0 - -- -- TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES - - -- ---------------------- 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) x .o0 0 0 0 15. 0. 0 0 16. Amount of Line 14 taxable 5 0 1 , 9 8 4 5 0 at lineal rate X .045 16. 2 2, 5 8 9. 3 0 17. Amount of Line 14 taxable 10 0 0 0 0 0 at sibling rate X .12 ~ 17. 1 2 0 0 0 0 ~ • 18. Amount of Line 14 taxable at collateral rate X .15 0 0 0 18. 0 0 0 19. Tax Due .............................................................. 19. 2 3, 7 8 9. 3 0 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT. Slde 2 1505607220 15U56U7220 REV-1500 EX Page 3 Decedent's Complete Address: File Number 21-08-1267 DECEDENT'S NAME Leon C. Morrison _ STREET ADDRESS 82 Ridge Avenue __ _ __ CITY ~-- - ~ STATE ,ZIP Carlisle PA 'I 17013 Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) (1) 2 3 , 7 8 9.3 0 2. Credits/Payments A. Spousal Poverty Credit __ ___ __ B. Prior Payments 2 2, 5 0 0.0 0 C. Discount 1,184.21 --- Total Credits (A + B + C) (2) 2 3 , 6 8 4.21 3. InteresUPenalty if applicable p. Interest E. Penalty _____ _ Total InteresUPena{ty (D + E) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is theOVERPAYMENT. (4) Check box on Page 2 Line 20 to request a refund 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is theTAX DUE (5) _ 105.09 A. Enter the interest on the tax due. (5A) _ B. Enter the total of Line 5 + 5A. This is theBALANCE DUE (5B) 10 5.0 9 Make Check Payable to: REGISTER OF W/LLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transfeprrep ;...y ........................................................................ '~` x~ c. retain ahreversionaeSinte est oo shall use the ro ert transferre or its income :.............................. ,I ~--- ................__............................._............................__................ ~ ~ L g ry g .__ ..... .......................... '~ x d. receive the promise for life of either payments, benefits or care? ............................ r ~J 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?......... ~;~I ~~xJ,, 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ..............................__............................__............................__.................... [_~ Lxll IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. §9116 (a) (1.1) (ii)]. The statutedoes not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116 (a} (1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. §9116 1.2) [72 P.S. §9116 (a) (1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. §9116 (a) (1.3)]. 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. Rev-1502 EX~ (6-88) SCHEDULE A REAL ESTATE COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 Real estate located at -1129 Harrisburg Pike, Carlisle, Cumberland County, 347,000.00 Pennsylvania ,Parcel No. 21-18-1363-061, titled to Leon C. Morrison (appraisal attached) 2 Real Estate -located at 82 Ridge Avenue, Carlisle, Cumberland County, 300,000.00 Pennsylvania, Parcel No. 29-05-0429-082, titled to Leon C. Morrison (appraisal attached) TOTAL (Also enter on Line 1, Recapitulation) I 647.000.00 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 ScheduleA (Rev. 6-98) Rev-1503 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA SCHEDULE B STOCKS & BONDS ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER CUSIP NUMBER DESCRIPTION UNIT VALUE VALUE AT DATE OF DEATH 1 744320102 180 shares of Prudential Financial Inc, -titled to Leon 20.97 3,774.60 C. Morrison TOTAL (Also enter on Line 2, Recapitulation) 3,774.60 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule B (Rev. 6-98) Rev-1507 E)(+ (6-98) SCHEDULE D MORTGAGES & NOTES RECEIVABLE COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 All property jointly-owned with right of aurvivonship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 Installment Sales Agreement -for real estate located at 203-207 South Hanover 885.216.00 Street, Carlisle, Leon C. Morrison (Seller}, James K. Holder and Vickie D. Holder (Purchaser}. Agreement of Sale dated August 25, 2006. Sate price of $906,886.80. Monthly installment payments of $6,033.54, beginning October 1, 2006. Interest rate of 7% per annum. Final payment due on or before September 1, 2010. Present value. TOTAL (Also enter on Line 4, Recapitulation) I 885.216.00 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule D (Rev. 6-98) Rev-1508 EX+ (6-98- COMMONWEALTH OF PENNSYLVANIA IAIUCGITAAIPC TAY DCTI IDAI SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorship must be disclosed on schedule F. ITEM NUMBER DESCRIPTION 1 Certificate of Deposit No. 186248627, -held at Orrstown Bank, titled to Leon C. Morrison ($191.84 accrued interest) 2 Certificate of Deposit #4000006798, -held at Orrstown Bank, titled to Leon C. Morrison ($54.85 accrued interest) 3 Certificate of Deposit #4000018637, -held at Orrstown Bank, titled to Leon C. Morrison ($34.06 accrued interest) 4 Savings Account - No. 227271-00, held at Members 1st Federal Credit Union, titled to Leon C. Morrison 5 Certificate of Deposit No. 227271-40, -held at Members 1st Federal Credit Union, titled to Leon C. Morrison ($32.19 accrued interest) 6 Certificate of Deposit No. 227271-46, -held at Members 1st Federal Credit Union, titled to Leon C. Morrison ($32.71 accrued interest) 7 1949 Chrysler Town and Country -titled to Leon C. Morrison (appraisal attached) 8 1937 Graham Cavalier -titled to Leon C. Morrison (appraisal attached) 9 1931 Ford Model AConvertible -titled to Leon C. Morrison (appraise{ attached) 10 1964 Chrysler Imperial -titled to Leon C. Morrison (appraisal attached) 11 1955 Packard -titled to Leon C. Morrison (appraisal attached) 12 1932 Graham 2-door convertible -titled to Leon C. Morrison (appraisal attached) OF DEATH 233,593.05 22,603.14 20,958.48 25.00 126,380.72 112,145.60 34,200.00 6,890.00 18,000.00 8,550.00 920.00 9,450.00 Total of Continuation Schedules See attached a es TOTAL (Also enter on Line 5, Recapitulation) 977,610.74 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, inc. Form PA-1500 Schedule E (Rev. 6-98) Rev-1508 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY continued ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 13 1953 Kaiser Manhattan -titled to Leon C. Morrison (appraisal attached) 4,440.00 14 1968 IHC Pickup -titled to Leon C. Morrison (appraisal attached) 292.00 15 1931 Studebaker Club Sedan -titled to Leon C. Morrison (appraisal attached) 5,400.00 16 1930 Ford Model APickup -titled to Leon ~C. Morrison (appraisal attached) 12,380.00 17 1962 Chevrolet Corvette -titled to Leon C. Morrison (appraisal attached) ~ 36,450.00 18 2002 Ford Thunderbird -titled to Leon C. Morrison (appraisal attached) 18,012.50 19 2001 Chrysler PT Cruiser -titled to Leon C. Morrison (appraisal attached) 5,262.50 20 1999 Ford F250 Superduty Pickup Truck -titled to Leon C. Morrison (sale price) 12,500.00 21 2004 Ford F150 Lariat Pickup Truck -titled to Leon C. Morrison (appraisal attached) 17,242.75 22 2008 Chevrolet Corvette -titled to Leon C. Morrison (appraisal attached) 42,875.00 23 2001 Lexus LS430 -titled to Leon C. Morrison (appraisal attached) 17,300.00 24 2006 Harley Davidson Electra Glide Trike -titled to Leon C. Morrison (appraisal 25,000.00 attached) 25 1988 Navistar S1654 Truck -titled to Leon C. Morrison (appraisal attached) 4,000.00 26 2007 Car Mate trailer -titled to Leon C. Morrison (appraisal attached) 3,500.00 27 2008 Roadmaster trailer -titled to Leon C. Morrison (appraisal attached) 2,500.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule E (Rev. 6-98) Rev-1508 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY continued ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 28 2007 Carry On Trailer -titled to Leon C. Morrison (appraisal attached) 700.00 29 1997 Pequea Trailer -titled to Leon C. Morrison (appraisal attached) 1,200.00 30 1990 Car Mar trailer -titled to Leon C. Morrison (appraisal attached) 500.00 31 2001 Key West Sportsman 1720 boat -titled to Leon C. Morrison (appraisa( ~ 6,790.00 ,, attached) 32 - 2003 Holiday Rambler Navigator -Travel Trailer, titled to Leon C. Morrison; 167,550.00 (appraisal attached) TOTAL (Also enter on Line 5, Recapitulation) 977,610.74 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule E (Rev. 6-98) Rev-1510 EX+ (6-98) SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 This schedule must lie 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. ITEM NUMBER THE DATE O~ RANS E4R. ATTACH AHCOPY OF THE DEED OR REAL ESTATE. DATE OF DEATH VALUE OF ASSET °k OF DECD'S INTEREST ( EXCLUSION IF APPLICABLE} TAXABLE VALUE 1 Real estate located at 251 Clemson Drive, - 256,000.00 100.000 256,000.00 Carlisle, Cumberland County, Pennsylvania, Parcel No. 21-06-0017-023, titled to the Leon C. Morrison Living Trust (appraisal attached) 2 8 acres of land located on -Clemson Drive, 44,000.00 100.000 44,000.00 Carlisle, Cumberland County, Pennsylvania, Parcel No. 21-06-0017-035, titled to the,Leon C. - Morrison Living Trust (appraisal attached) 3 Real Estate located at 102 North Middlesex. 151,000.00 100.000 ~. 151,000.00 Road, -Carlisle, Cumberland County, Pennsylvania, Parcel No. 21-17-2696-008, titled to the Leon C. Morrison Living Trust (appraisal 4 Real estate located at 110 North Middlesex Road, 161,000.00 100.000 161,000.00 - Carlisle, Cumberland County, Pennsylvania, Parcel No. 21-06-0017-026A, titled to the Leon C. Morrison Living Trust (appraisal attached) TOTAL (Also enter on Line 7, Recapitulation) I 612.000.00 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule G (Rev. 6-98) REV-1151 EX+ (12.99) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 Debts of decedent must be reported on Schedule 1. ITEM DESCRIPTION AMOUNT NUMBER A. FUNERAL EXPENSES: See continuation schedule(s) attached 7,900.82 B. 1. ADMINISTRATIVE COSTS: Personal Representative's Commissions Sondra L. McCoy Social Security Number(s) / EIN Number of Personal Representative(s): Street Address 51 Hoy Road city Carlisle state PA zip 17013 Year(s) Commission paid 2009 84,000.00 2. Attorney's Fees Susan E. Lederer 66,700.00 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees Cumberland County Register of Wills 798.00 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. Other Administrative Costs 9,868.22 See continuation schedule(s) attached TOTAL (Also enter on line 9, Recapitulation) 169,267.04 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H (Rev. 6-98) SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS continued ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 ITEM NUMBER DESCRIPTION AMOUNT Funeral Exaenses 1 Ewing Brothers Funeral Home 7,600.82 2 Sergio Rameriz - (fee for pastor) 100.00 3 Middlesex United Methodist Church - (funeral luncheon) 200.00 H-A Subtotal 7,900.82 Other Administrative Costs 4 Diversified Appraisal Services - (Appraisal for 1129 Harrisburg Pike property) 1,600.00 5 B-H Agency Appraisal Services - (Appraisal fee for properties at 102 North 1,550.00 Middlesex, 110 North Middlesex, 251 Clemson, acreage on Clemson, and 82 Ridge Avenue) 6 Starsinic Appraisal Service, Inc. - (vehicle appraisals) 1,400.00 7 Cumberland County Register of Wills - (additional short certificates) 108.00 8 L.A.W. Messenger Service - (notary fees to transfer vehicle titles) 270.00 9 Commonwealth of Pennsylvania - (sales tax and title fee -1964 Chrysler Imperial) 88.50 10 Commonwealth of Pennsylvania - (sales tax and title fee -1949 Chrysler Town & 241.50 Country) 11 Commonwealth of Pennsylvania - (sales tax and title fee -1932 Graham 2dr 208.50 Convertible) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H (Rev. 6-98) SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS continued ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 ITEM NUMBER DESCRIPTION AMOUNT 12 Commonwealth of Pennsylvania - (sales tax and title fee -1962 Chevrolet Corvette) 13 Commonwealth of Pennsylvania - (sales tax and title fee -1988 Navistar) 14 Commonwealth of Pennsylvania - (sales tax and title fee -1930 Ford Model A Pickup) 15 PPL - (electric service, December -March for 82 Ridge Avenue, personal residence.) 16 Embarq - (phone service, December -March for 82 Ridge Avenue, personal. residence) - . 17 UGI -('gas service, December -March for 82 Ridge Avenue, personal residence) 18 Direct TV - (television service, December -March for 82 Ridge Avenue, personal residence) 19 York Waste - (trash service -December -March for 82 Ridge Avenue, personal residence) 20 N. Middleton Authority - (Water service -December -March for 82 Ridge Avenue, personal residence) 21 Executive Protective Security - (home security for 82 Ridge Avenue, personal residence) 22 Scott's Lawn Care - (spring lawn service care for 82 Ridge Avenue, personal residence) 23 Cumberland County Register of Wills - (additional probate costs) 190.50 142.50 592.50 538.77 180.09 809.97 452:85 90.90 164.60 375.00 134.04 700.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H (Rev. 6-98) SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS continued ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 ITEM NUMBER DESCRIPTION AMOUNT 24 Cumberland County Register of Wills - (filing fees for PA Inheritance Tax Return 30.00 and Inventory) H-B7 Subtotal 9,868.22 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H (Rev. 6-98) Rev-1512 EX+ (6-98) SCHEDULE 1 DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 Include unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 Horizon Medical - (medical bill) 102.10 2 Shirley Starsinic - (private medical care) 270.00 3 O'Brien, Baric and Scherer Law Offices - (fee to prepare lease for 251 Clemson, 296.00 rental property bill outstanding as of date of death) 4 Cumberland County Tax Claim Bureau - (2008 taxes for 102 N. Middlesex Drive, 1,628.40 rental property bill outstanding as of date of death) 5 PPL - (electric service, November -110 N. Middlesex Road, rental property bill 11.59 outstanding as of date of death) 6 Wagner Construction - (roof repair to 110 North Middlesex Road, rental property bill 850.00 outstanding as of date of death) 7 Cumberland County Tax Claim Bureau - (2008 property taxes for 110 N. Middlesex 1.640.99 Road, rental property bill outstanding as of date of death) 8 Cumberland County Tax Claim Bureau - (2008 taxes for Clemson Drive acreage, 57.00 rental property bill outstanding as of date of death) 9 Cumberland County Tax Claim Bureau - (2008 taxes for 251 Clemson Drive, rental 2,334.43 property bill outstanding as of date of death) 10 Middlesex Authority - (water bill -1129 Harrisburg Pike, rental property bill 165.08 outstanding as of date of death) 11 ECM - (insurance for 1129 Harrisburg Pike, yenta{ property bill outstanding as of 513.25 date of death) 12 PPL - (electric service, November - 82 Ridge Avenue, personal residence) 156.73 Total of Continuation Schedule See attached page TOTAL (Also enter on Line 10, Recapitulation) 8,467.72 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule I (Rev. 6-98) Rev-1512 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE 1 DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS continued ESTATE OF FILE NUMBER Morrison, Leon C. 21-08-1267 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule I (Rev. 6-98) REV-1513 EX+ (8-00) SCHEDULE J COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Morrison. Leon C. 21-08-1267 NAME AND ADDRESS OF RELAT{ONSHIP TO DECEDENT SHARE OF ESTATE AMOUNT OF ESTATE NUMBER PERSON(S) RECEIVING PROPERTY Do Not List Trustee s (Words) ($$$) I • TAXABLE DISTRIBUTIONS [include outright spousal and transfers distributions , under Sec. 9116(a)(1.2)) 1 Sondra L. McCoy Daughter R.E. at 1129 365,012.50 51 Hoy Road Harrisburg Carlisle, PA 17013 Pike; 2002 Ford T-bird 2 Jonathan A. McCoy Grandson 10 antique 100,522.00 670 Crane's Gap Road autos (Items Carlisle, PA 17013 7-16 on Sch. E) 3 Robert McCoy Son-in-Law 1962 Chevrolet 36,450.00 51 Hoy Road Corvette Carlisle, PA 17013 4 Shirley Snyder Sister $10,000.00 .. 10,000.00 243 Ridge Hill Road ~ . Mechanicsburg, PA 17050 Total 511,984.50 Enter dollar amounts for distributions shown above on lines 15 through 18, as approp riate, on Rev 1500 cov er sheet II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE See continuation schedule(s) attached 2,435,882.08 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART II-ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEETS L,435,t3tf1.Ut3 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule) (Rev. 6-98) SCHEDULE J-IIA SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX lS NOT BEING MADE continued ESTATE OF (FILE NUMBER Morrison, Leon C. 21-08-1267 ITEM NUMBER DESCRIPTION AMOUNT 1 Leon C. Morrison Family Trust - (created under Last Will and Testament dated 1,488,015.50 12/28/2005) 2 Leon C. Morrison Marital Trust - (created under Last Will and Testament dated 335,866.58 12/28/2005) 3 Leon C. Morrison Marital Trust - (created under Leon C. Morrison Living Trust dated 612.000.00 12/8/2006) Subtotal ~ 2,435,882.08 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule)-IIA (Rev. 6-98) Last Wiil and Testament r~-~~~-~=~~, ~--~~~ ~,~~ l °~ -~ ~~~ of - - ~ . Leon C. Morrison I, Leon C. Morrison, a resident of Carlisle, Cumberland County; Pennsylvania, revoke any prior wills and codicils made by me and declare this to be my Last Will and Testament. Article One Family Information I am married to Jeannette Morrison. We were married on August 31, 1951. Any reference in my will to my wife is to Jeannette Morrison. I have two children. Their names and dates of birth are: Sondra L. McCoy, born on September 3, 1954 Michael A. Morrison, born on November 30, 1959 All references to my children in my will are to these children. References to my descendants are to my children and their descendants. Article Two Specific and General Gifts Section 2.01 Specific Distribution to Michael A. Morrison As soon as practicable after my death, if my wife has predeceased me, I give the sum of $50,000.00 to Michael A. Morrison. As soon as practicable after my death, even if my wife survives me, I forgive any outstanding balance of my loan to Michael A. Morrison related to the property located at 1020 Newville Road. Page 1 If Michael A. Morrison should predecease me, I give the property subject to this distribution to the then living descendants of Michael A. Morrison, per stirpes. Property passing under this Section shall pass free of any administrative expenses or death taxes. Section 2.02 Specific Distribution to Sondra L. McCoy As soon as practicable after my death, even if my wife survives me, I give the real estate located at 1129 Harrisburg Pike to Sondra L. McCoy. If Sondra L. McCoy should predecease me, I give the property subject to this distribution to Robert E. McCoy. Property passing under this Section shall pass free of any administrative expenses or death taxes. Section 2.03 Specific Distribution to Shirley Snyder As soon as practicable after my death, even if my wife survives me, I give the sum of $10,000.00 to Shirley Snyder. If Shirley Snyder should predecease me, I give the property subject to this distribution to Richard Snyder. If Richard Snyder should predecease me, I give the property subject to this distribution to the then living descendents of Shirley Snyder, per stirpes. Property passing under this Section shall pass free of any administrative expenses or death taxes. Section 2.04 Specific Distribution to Grandchildren If my wife has predeceased me, then as soon as practicable after my death, I give the sum of $10,000.00 to each of my surviving grandchildren. If my wife survives me, this distribution shall lapse and the property subject to this distribution shall instead be distributed under the other provisions of my will. Property passing under this Section shall pass free of any administrative expenses or death taxes. Section 2.05 Specific Distribution to Great-Grandchildren If my wife has predeceased me, then as soon as practicable after my death, I give the sum of $1,000.00 to each of my surviving great-grandchildren. If my wife survives me, this distribution shall lapse and the property subject to this distribution shall instead be distributed under the other provisions of my will. Page 2 Property passing under this Section shall pass free of any administrative expenses or death taxes. Section 2.06 Disposition of Tangible Personal Property I give all my tangible personal property, together with any insurance policies covering such property and claims under such policies in accordance with a "Memorandum for Distribution of Personal Property" or other similar writing directing the disposition of such property, which shall be dated and signed by me. I intend that the writing qualify to distribute my tangible personal possessions under applicable state law. Section 2.07 Contingent Distribution of Tangible Personal Property I give any tangible personal property not disposed of by a written memorandum to my wife, if she survives me. If she does not survive me, I give the property to my children in shares of substantially equal value, to be divided among my children as they shall agree. In case my children do not agree upon the division of the property within a reasonable time not to exceed 6 months after my death, my Executor shall make the division. My Executor may select an individual to represent any child my Executor believes is incapable of acting in his or her own best interest. My Executor, whose decision shall be final and binding, may use a lottery or rotation system to determine the order of selection and distribution of any such property, or may otherwise allocate and distribute the same. As an alternative, my Executor may sell any of the property and distribute the net proceeds equally among my living children. My Executor shall incur no liability to any party for any decision made by my Executor with respect to either the division or sale of my tangible personal property, and any decision made by my Executor shall be final and binding on all of my beneficiaries. Section 2.08 Definition of Tangible Personal Property For purposes of this Article, my tangible personal property shall include but not be limited to my household furnishings, appliances and fixtures, works of art, motor vehicles, pictures, collectibles, personal wearing apparel and jewelry, books, sporting goods, and hobby paraphernalia. Tangible personal property shall not include any tangible property that my Executor, in its sole discretion, determines to be part of any business or business interest that I own at my death. Section 2.09 Ademption If property to be distributed under this Article becomes part of my probate estate in any manner after my death, then the gift shall not adeem on account of not being a part of my Page 3 probate estate at my death, and my Executor shall distribute the property as a specific gift in accordance with this Article. If property to be distributed under this Article is not part of my probate estate upon my death and does not subsequently become part of my probate estate, then the specific gift made in this Article shall be considered null and void, without any legal or binding effect. Section 2.10 Encumbrances and Incidental Expenses of Tangible Personal Property My Executor shall distribute property under this Article subject to liens, security interests or other encumbrances on the property. My Executor shall pay, as an administration expense, the reasonable expenses of storing, packing, insuring, transporting and otherwise caring for my tangible personal property until actual delivery of each article of property to the appropriate beneficiary. Article Three My Residuary Estate Section 3.01 Definition of My Residuary Estate All the remainder of my estate, including property referred to above that is not effectively disposed of, shall be referred to in my will as my "residuary estate." Section 3.02 Disposition of My Residuary Estate If my wife survives me, my Executor shall divide my residuary estate into two separate shares as provided in Section 3.03 and Section 3.04. one share shall be designated the "Marital Share" and the other share shall be designated the "Non-Marital Share." If my wife predeceases me, my residuary estate shall be administered as provided in Article Six entitled "Distribution to Sondra L. McCoy." Section 3.03 Division of My Residuary Estate (No Federal Estate Tax) If there is no federal estate tax in effect at my death and Section 1022 of the Internal Revenue Code is in effect, my Executor shall allocate to the Non-Marital Share property from my residuary estate selected by my Executor that collectively has a sufficient amount of appreciation to fully utilize the entire aggregate basis increase allowed under Section 1022(b). Page 4 From the remaining property of my residuary estate, my Executor shall allocate to the Marital Share property selected by my Executor that, taking into account any other property passing to my wife by reason of my death (whether under or outside of my will) shall collectively have a sufficient amount of appreciation to fully utilize the spousal property basis increase available to my estate under Section 1022(c) of the Internal Revenue Code. My Executor shall then allocate the remaining property of my residuary estate to the Non-Marital Share. The Marital Share shall be administered as provided in Article Four entitled "the Marital Trust." The Non-Marital Share shall be administered as provided in Article Five entitled "The Family Trust." My Executor shall satisfy the gifts to the Non-Marital Share and the Marital Share by selecting property having the lowest fair market value necessazy to utilize the basis increase allowed under Sections 1022(b) and (c) of the Internal Revenue Code except, however, I authorize my Executor, other than my spouse or a contingent beneficiary, to depart from this direction if my Executor determines that there is good reason to do so. My Executor may consider whether an asset is more likely to be sold in the near future than another asset and whether to preserve certain assets of the trust for future generations. A Executor, acting in good faith, shall not be liable to any beneficiary for exercising or failing to exercise its discretion in making allocations under this Section. Section 3.04 Division of My Residuary Estate (Federal Estate Tax Exists) If the federal estate tax is in effect at my death, my Executor shall divide my residuary estate as provided in this Section. (a~ Creation of the Non-Marital Share My Executor shall allocate to the Non-Marital Share a pecuniary amount equal to the largest amount that can pass free of the federal estate tax taking into account the applicable credit amount (unified credit) and the state death tax credit provided use of any estate death tax credit does not require an increase in the state death taxes paid, and after taking into account any property passing outside of my probate estate that is includable in my gross estate. In making the computations necessary to determine the amount of the Non-Marital Share, my Executor shall use the value of those assets as finally determined for federal estate tax purposes and shall not take into account any renunciation or disclaimer by or on behalf of my wife. The Non-Marital Share shall be administered as provided in Article Five entitled "The Family Trust." Page 5 (b) Creation of the Marita{ Share My Executor shall allocate the balance of my residuary estate to the Marital Share. The Marital Share shall carry with it a pro rata share of the income, provided that in no event shall the Marital Share receive less income than that required to be paid to my wife under applicable state law. The Marital Share shall be administered as provided in Article Four entitled "the Marital Trust." (c) Funding the Non-Marita{ Share If the federal estate tax is in effect at my death, my Executor shall have complete authority and discretion to satisfy the gift to the Non-Marital Share in cash or in kind, or partly in cash and partly in kind, or in undivided interests in property. My Executor shall value all property allocated in kind to the Non-Marital Share in satisfaction of the pecuniary amount on the basis of the value of such property on the date or dates so allocated. My Executor shall allocate property or the proceeds of any property to the Non-Marital Share that does not qualify for the federal estate tax marital deduction. I request that my Executor always consider the tax consequences of allocating or distributing to the Marital Share any policy of insurance that insures the life of my wife, property subject to the foreign death credit, property on which a tax credit is available, or property that is income in respect of a decedent under the Internal Revenue Code. Section 3.05 Disposition of Properly Upon Disclaimer by My Wife My wife shall have the right within the time and in the manner provided by law to disclaim any portion or all of the property passing to or for her benefit under my will. If my wife disclaims any portion of the property that would otherwise be .allocated to the Marital Share, my Executor shall add the disclaimed property to the Non-Marital Share. If my wife disclaims the interest she has in any portion of the Non-Marital Share, my Executor shall dispose of the disclaimed interest under the provisions of my will as though she had predeceased me. My wife's right to disclaim any portion or all of the property passing to or for her benefit under my will shall either be exercised by my wife personally, or by any fiduciary or agent appointed by my wife who is specifically empowered to exercise her right to disclaim by the terms of the appointment, or under applicable law. Page 6 Article Four The Marital Trust I give the Marital Share to my Trustee in trust to hold and administer as provided in this Article. The trust will be referred to as the "Marital Trust." Section 4.01 Distributions of Net Income My Trustee shall distribute all of the net income of the Marital Trust to my wife at least monthly during her lifetime. Nothing contained in my will shall limit the right of my wife to receive the entire net income of the Marital Trust. Section 4.02 Distributions of Principal My Trustee shall distribute to my wife as much of the principal of the Marital Trust as my Trustee determines is necessary or advisable for her health, education, maintenance and support. My Trustee, in its sole discretion, may consider the needs of my wife and other income and resources available to my wife. Section 4.03 Unproductive Property Upon written request of my wife, my Trustee shall convert any nonproductive property held in the Marital Trust to productive property. Section 4.04 Separate Share for Disclaimed Property My Trustee shall hold any property that has become property of the Marital Trust as a consequence of a disclaimer by my wife as a separate share of the Marital Trust with provisions identical to those contained in the other sections of this Article. Section 4.05 Qualified Terminable Interest Property I intend that the Marital Trust property shall constitute qualified terminable interest property for federal or state death tax purposes if and to the extent my Trustee makes the necessary election. My will shall be interpreted to accomplish such intent. If my Trustee elects to have some but not all of the property in the Marital Trust qualify as qualified terminable interest property for federal or state death tax purposes, the qualified property and the non-qualified property shall be separated into separate shares, but each share shall be held upon identical terms and conditions as if there had been no Page 7 division. The separate shares may be invested in a common fund with each share owning a proportionate fractional share of the fund. Section 4.06 Termination of the Marital Trust at the Death of My Wife The Marital Trust shall terminate upon the death of my wife. If my wife has not fully exercised her testamentary limited power of appointment over the trust property remaining at her death, my Trustee shall administer the unappointed balance or remainder of the Marital Trust as provided in Article Six entitled "Distribution to Sondra L. McCoy. Article Five The Family Trust My Trustee shall hold and administer the Non-Marital Share in trust as provided in this Article. The trust will be referred to as the "Family Trust." Section 5.01 Family Trust Beneficiary My wife shall be the only beneficiary of the Family Trust during her lifetime. Section 5.02 Separate Share for Disclaimed Property To the extent that any property is added to the Family Trust as the result of a qualified disclaimer by my wife, the property shall be held in a separate share of the Family Trust during the lifetime of my wife, and shall be separately administered in accordance with all of the provisions of this Article. The sole purpose of maintaining the separate share is to keep the disclaimed property, together with all income from the property that is accumulated in the trust, separate from the other property of the Family Trust over which my wife has a power of appointment and avoid the possible disqualification of an otherwise qualified disclaimer under Section 2518 of the Internal Revenue Code. Section 5.03 Distribution of Income and Principal My Trustee shall distribute to my wife as much income and principal of the Family Trust as my Trustee determines is necessary or advisable for her health, education, maintenance and support. Page 8 Any undistributed net income shall be accumulated and added to principal. Section 5.04 My Wife's Right to Withdraw Principal My wife shall have the right, exercisable by written request to my Trustee before the close of each calendar year, to withdraw either in cash or in kind: An amount from the principal of the Family Trust not exceeding the amount referred to in Section 2514(e)(1) of the Internal Revenue Code (currently $5,000); and If my wife is living on the last day of the calendar year, that percentage referred to in Section 2514(e)(2) (currently 5%} of the current fair market value of the principal of the Family Trust that exceeds the amounts previously withdrawn by my wife during the calendar year under this paragraph. The amount referenced by Section 2514(e)(1) must be determined by taking into account all other powers of withdrawal exercised by my wife that must be aggregated under Section 2514(e)(1} in determining the largest lapse that can occur without being treated as a release. This right of withdrawal shall be noncumulative and shall lapse if not exercised during the calendar year. My Trustee shall distribute the requested property to my wife outright, free from trust. Section 5.05 Guidelines to My Trustee In making discretionary distributions under this Article, my Trustee should bear in mind that my primary concern and objective is to provide for the well-being of my wife and the preservation of principal is not as important as the accomplishment of this objective. Without limiting my Trustee's discretion, I recommend, but do not require, that my Trustee not distribute principal from the Family Trust to my wife until the principal of the Marital Trust is substantially exhausted. Section 5.06 Termination of the Family Trust The Family Trust shall terminate upon the death of my wife. My Trustee shall administer the unappointed balance or remainder of the Family Trust as provided in Article Six entitled "Distribution to Sondra L. McCoy." Page 9 Article Six Distribution to Sondra L. McCoy Upon the death of the survivor of my wife and me, my Executor or my Trustee, as the case may be, shall distribute my residuary estate to Sondra L. McCoy outright. If Sondra L. McCoy is deceased, all property allocated to this Article shall be distributed as follows: Michael A. Morrison 30% Robert E. McCoy 30% Neil R. McCoy 10% Jonathan A. McCoy 10% Michelle Morrison 10% Andrew Morrison 10% If any of the above-named beneficiaries has died, his or her share shall be distributed to the surviving beneficiaries, pro rata. If all of said beneficiaries have died, then the property allocated to this Article shall be administered as provided in Article Seven entitled "Remote Contingent Distribution." Article Seven Remote Contingent Distribution If, at any time, there is no person or entity qualified to receive final distribution of my probate or trust estate or any part of it, then the portion of my probate or trust estate with respect to which the failure of qualified recipients has occurred shall be distributed one- half to those persons who would inherit it had I then died intestate owning .the property, and one-half to those persons who would inherit it had my wife then died intestate owning such property, all as determined and in the proportions provided by the laws of Pennsylvania then in effect. Page 10 Article Eight Designation of Fiduciaries Section 8.01 Executor I name Sondra L. McCoy as my Executor. If Sondra L. McCoy fails or ceases to act as my Executor, I name Michael A. Morrison as my Executor. Section 8.02 My Trustee I appoint Sondra L. McCoy as my Trustee to serve as Trustee of any trusts created under my will. If Sondra L. McCoy fails or ceases to act as Trustee, I appoint Michael A. Morrison as my Trustee. Article Nine Trust Administration Provisions The provisions of this Article pertain to any trust created under my will. Section 9.01 No Court Proceedings Any trust created under my will shall be administered expeditiously, consistent with the provisions of my will, free of judicial intervention, and without order, approval or action of any court. A trust shall be subject to the jurisdiction of a court only if my Trustee or another interested party institutes a legal proceeding. A proceeding to seek instructions or a court determination shall be initiated in the court having original jurisdiction over matters relating to the construction and administration of trusts. Seeking instructions or a court determination shall not subject a trust to the continuing jurisdiction of the court. Section 9.02 Resignation of a Trustee A Trustee may resign by giving notice to the income beneficiaries of the trust and to any other Trustee then serving. Section 9.03 Removal of a Trustee A Trustee of any trust created under my will may be removed, with or without cause, by ' the unanimous decision of all the income beneficiaries of the trust. A Trustee may be removed under this subsection only if, on or before the effective date of removal, the person or persons having the right of removal appoint an individual or corporate fiduciary Page 11 that simultaneously commences service as Trustee. The Trustee so appointed may not be related or subordinate to the person or persons having the right of removal within the meaning of Section 672(c) of the Internal Revenue Code. The right to remove a Trustee under this subsection shall not be deemed to grant to the person holding that right any of the powers of that Trustee. If a beneficiary is a minor or is incapacitated, the parent or legal representative of the beneficiary may act on behalf of the beneficiary. Section 9.04 Default of Designation If the office of Trustee of a trust created under my will is vacant and no designated successor Trustee is able and willing to act as Trustee, my wife shall appoint an individual or corporate fiduciary that is not related or subordinate to the person or persons making the appointment within the meaning of Section 672(c) of the Internal Revenue Code as successor Trustee. If my wife is unable or unwilling to act, a majority of the income beneficiaries of the trust shall appoint an individual or corporate fiduciary that is not related or subordinate to the person or persons making the appointment within the meaning of Section 672(c) of the Internal Revenue Code as successor Trustee. Any beneficiary may petition a court of competent jurisdiction to appoint a successor Trustee to fill any vacancy remaining unfilled after a period of 30 days. By making such appointment, the court shall not thereby acquire any jurisdiction over the trust, except to the extent necessary for making the appointment. If a beneficiary is a minor or is incapacitated, the parent or legal representative of the beneficiary may act on behalf of the beneficiary. Section 9.05 Notice of Removal and Appointment Notice of removal shall be in writing and shall be delivered to the Trustee being removed and to any other Trustees then serving. The notice of removal shall be effective in accordance with its provisions. Notice of appointment shall be in writing and shall be delivered to the successor Trustee and any other Trustees then serving. The appointment shall become effective at the time of acceptance by the successor Trustee. A copy of the notice shall be attached to my will. Section 9.06 Appointment of a Cotrustee Any individual Trustee may appoint an individual or a corporate fiduciary as a Cotrustee. A Cotrustee so named shall serve only as long as the Trustee who appointed the Cotrustee (or, if the Cotrustee was named by more than one Trustee acting together, by the last to serve of those Trustees) serves, and that Cotrustee shall not become a successor Page 12 Trustee upon the death, resignation, or incapacity of the Trustee who appointed the Cotrustee, unless so appointed under the terms of my will. The Trustee appointing a Cotrustee may revoke the appointment at any time with or without cause. Section 9.07 Corporate Fiduciaries Any corporate fiduciary serving as a fiduciary under my will must be a bank, trust company, or public charity that is qualified to act as a fiduciary under applicable federal and state law and that is not related or subordinate to any beneficiary within the meaning of Section 672(c) of the Internal Revenue Code. Section 9.08 Incapacity of a Trustee If any individual Trustee becomes incapacitated, it shall not be necessary for the incapacitated Trustee to resign as Trustee. A written declaration of incapacity by the Cotrustee, if any, or, if none, by the party designated to succeed the incapacitated Trustee, if made in good faith, will terminate the trusteeship. Section 9.09 Appointment of Independent Special Trustee If for any reason the Trustee of any trust created under my will is unwilling or unable to act with respect to any trust property or any provision of my will, the Trustee shall appoint, in writing, a corporate fiduciary or an individual to serve as an Independent Special Trustee as to such property or with respect to such provision. The Independent Special Trustee appointed shall not be related or subordinate to any beneficiary of the trust within the meaning of Section 672(c) of the Internal Revenue Code. The Trustee may revoke the appointment at will. An Independent Special Trustee shall exercise all fiduciary powers granted by my will unless expressly limited elsewhere in my will or by the Trustee in the instrument appointing the Independent Special Trustee. An Independent Special Trustee may resign at any time by delivering written notice of resignation to the Trustee. Notice of resignation shall be effective in accordance with the terms of the notice. Section 9.10 Majority Action of Trustees If two Trustees are eligible to act with respect to a given matter, the concurrence of both shall be required for action to be taken; if more than two Trustees are eligible to act with respect to a given matter, the concurrence of a maj ority of my Trustees shall be required for action to be taken. A nonconcurring Trustee may dissent or abstain from a decision of the majority. A Trustee shall be absolved from personal liability by registering its dissent or abstention in the records of the trust. After doing so, the dissenting Trustee shall then act with my other Trustees in any way necessary or appropriate to effectuate the decision of the majority. Page 13 Notwithstanding any provision of my will to the contrary, a Trustee may disclaim or release, in whole or in part, by an instrument in writing, any power it holds as Trustee, irrevocably or for any period of time that the Trustee may specify. The Trustee may make the relinquishment of a power personal to the Trustee or may relinquish the power for all subsequent Trustees. Section 9.11 Disclaimer by Beneficiary Serving as Trustee Notwithstanding any provision of my will to the contrary, any beneficiary serving as a Trustee may disclaim or release, in whole or in part, by an instrument in writing, any power such beneficiary holds as Trustee, irrevocably or for such period of time as such Trustee may specify, without affecting the continuance of the power in any other Trustee. Section 9.12 Exoneration of My Trustee My Trustee is not obligated to examine the accounts, records or actions of any previous fiduciary. My Trustee shall in no way or manner be responsible for any act or omission to act on the part of any previous fiduciary. Unless my Trustee has received notice of removal, my Trustee shall not be liable to any beneficiary for the consequences of any action taken by my Trustee that would have been, but for the prior removal of my Trustee, a proper exercise by my Trustee of the authority granted to my Trustee under my will. My Trustee may request and obtain from the beneficiaries or from their legal representatives, agreements in writing releasing my Trustee from any liability that may have arisen from my Trustee's acts or omissions to act and indemnifying my Trustee from liability for the acts or omissions. An agreement described in this paragraph, if acquired from all the living beneficiaries of my will or from their legal representatives, shall be conclusive and binding upon all parties, born or unborn, who may have, or may in the future acquire, an interest in my will. My Trustee may require a refunding agreement before making any distribution or allocation of the income or principal of a trust created under my will and may withhold distribution or allocation pending determination or release of a tax lien or other lien. This refunding agreement provision shall not apply to any distribution that qualifies for the federal estate tax unlimited marital deduction or the federal estate tax charitable deduction. Section 9.13 Benefits Payable to My Trustee My Trustee may exercise any right to determine the manner and timing of payment (by lump sum or otherwise) of any benefits or assets payable by reason of my death to my Trustee or to any trust created under my will. This includes, but is not limited to, such benefits under life insurance policies, employee benefit plans, retirement plans or other Page 14 contracts, plans or arrangements providing for payment or transfer at death to such trust. My Trustee shall not be liable to any beneficiary for the death benefit election selected. My Trustee shall not be obligated to undertake litigation for collection of any benefits or assets payable to such trust unless it is indemnified to its satisfaction against any liability and expense of such litigation. Persons or entities dealing in good faith with my Trustee shall not be required to see to the proper application of proceeds delivered to my Trustee, or to inquire into any provision of my will. Payment to my Trustee and the receipt of or release by my Trustee shall fully discharge the person or entity making such payment. Notwithstanding anything in my will to the contrary, no benefits or assets payable by reason of my death to my Trustee or to any trust created under my will shall be subject to the claims against my estate, nor shall such benefits be subject to the control of my Executor nor be included in the property administered as a part of my probate estate. . Section 9.14 Certificate by Trustee A written statement of the Trustee of any trust established under my will at any time as to any facts relative to the trust may always be relied upon and shall always be conclusive evidence in favor of any transfer agent and any other person dealing in good faith with the Trustee in reliance upon such statement. Section 9.15 Funeral and Other Expenses of Beneficiary Upon the death of an income beneficiary of a trust created under my will, my Trustee may pay the funeral expenses, burial or cremation expenses, enforceable debts and other expenses incurred due to the death of the beneficiary from trust property. This Section shall only apply to the extent the income beneficiary has not exercised any testamentary power of appointment granted to him under my will. My Trustee may rely upon any request by the personal representative or members of the family of the deceased beneficiary for payment without verifying the validity or the amounts and without being required to see to the application of the amounts so paid. My Trustee may make decisions under this Section without regard to any limitation on payment of expenses imposed by statute or rule of court and may be made without obtaining the approval of any court having jurisdiction over the administration of the deceased beneficiary's estate. Section 9.16 Trust Accounting Except to the extent required by law, my Trustees shall not be required to file annual accounts with any court or court official in any jurisdiction. Upon the written request of a beneficiary, my Trustee shall render an accounting at least annually to the income beneficiaries of the trust during the accounting period that Page 15 includes the date of the written request. The accounting shall include the receipts, disbursements, and distributions occurring during the accounting period and a balance sheet of the trust property if no tax return is filed, or may consist just of the tax return for the accounting period if a tax return is filed for the trust. In the absence of fraud or manifest error, the assent by all income beneficiaries to an accounting of an Independent Trustee shall make the matters disclosed in the accounting binding and conclusive upon all persons, both those in existence on the date of my death and those to be born in the future who have, or will in the future have, a vested or contingent interest in the trust property. In the case of a minor or incapacitated beneficiary, that beneficiary's natural guardian or legal representative shall give the assent required under this Section. The failure of any person to object to any accounting by giving written notice to my Trustee within 60 days of the person's receipt of a copy of the accounting shall be deemed to be an assent by such person. The trust's financial records and documentation shall be available at reasonable times and upon reasonable notice for inspection by trust beneficiaries and their representatives. My Trustee shall not be required to furnish trust information regarding my trust to any individual, corporation, or other entity that is not a beneficiary or the representative of a beneficiary, and is not requesting the information pursuant to a valid court order. Section 9.17 Authority to Merge or Sever Trusts My Trustee may merge and consolidate a trust created under my will with any other trust, if the two trusts contain substantially the same terms for the same beneficiaries and at least one Trustee in common. My Trustee may administer the merged and consolidated trust as a single trust or unit. If, however, a merger or consolidation does not appear feasible, my Trustee may consolidate the assets of the trusts for purposes of investment and trust administration while retaining separate records and accounts for each respective trust. My Trustee may sever any trust on a fractional basis into two or more separate and identical trusts or may segregate a specific amount or asset from the trust property by allocation to a separate account or trust. The separate trusts may be funded on a non pro rata basis provided that funding is based on the total fair market value of the assets on the date of funding. Income earned on a segregated amount or specific asset after the segregation passes with the amount or asset segregated. My Trustee shall hold and administer each separate trust upon terms and conditions substantially identical to those of the trust from which it was severed. Subject to the terms of the trust, my Trustee may consider differences in federal tax attributes and other pertinent factors in administering the trust property of any separate account or trust, in making applicable tax elections, and in making distributions. A separate trust created by severance must be treated as a separate trust for all purposes Page 16 from the date on which the severance is effective; however, the effective date of severance may be retroactive to a date before the date on which my Trustee exercises the power. Section 9.18 Authority to Terminate Trusts If, at any time, my Trustee, other than an Interested Trustee , in its sole discretion, determines that a trust created under my will is no longer economical or is otherwise inadvisable to administer as a trust, or if my Trustee, other than an Interested Trustee, deems it to be in the best interest of my beneficiaries, my Trustee, without further responsibility, may terminate the trust and distribute the trust property, including any undistributed net income, in the following order of priority: To my wife, if then a beneficiary of the trust; If my wife is not then a beneficiary of the trust, to the beneficiaries then entitled to mandatory distributions of net income of the trust and in the same proportions; and If none of the beneficiaries are entitled to mandatory distributions of net income, to the beneficiaries then eligible to receive discretionary distributions of net income of the trust, in such amounts and shares as my Trustee, other than an Interested Trustee, may determine. Section 9.19 Discretionary Distribution to Fully Utilize Basis Increase Upon Death of Beneficiary This Section shall apply during any time there is no federal estate tax in effect and Section 1022 of the Internal Revenue Code is in effect. If I have given my Trustee the authority to make distributions of principal to the beneficiary of a trust, my Trustee, other than an Interested Trustee, may, from time to time, distribute to the beneficiary as much of the principal of the trust as my Trustee may determine is advisable to permit the estate of the beneficiary to take full advantage of the aggregate basis increase allowed under Section 1022, excluding the additional basis increase for property acquired by a surviving spouse under Section 1022(c). Before making a distribution of property under this Section, I request, but do not require that my Trustee determine whether there is a good reason to retain the property in trust such as whether or not the asset may be sold in the near future, the need for creditor protection by the beneficiary, protection of the beneficiary from failed marriages and protection of the asset for future generations. My Trustee shall not be liable to any beneficiary for the exercising or failing to exercise its discretion to make a distribution under this Section. Page 17 Section 9.20 Marital Deduction Qualification I intend that the marital gift as described in Article Three of my will qualify for the federal estate tax marital deduction, and the provisions of my will shall be construed to reflect this intent. To the extent that giving effect to a provision of my will would result in the marital gift not qualifying for the federal estate tax unlimited marital deduction, that provision shall be ineffective except to the extent my Trustee or personal representative elects that all or a portion of the marital gift not qualify for the unlimited marital deduction. Section 9.21 Generation-Skipping Transfer Tax Provisions Notwithstanding any other provision of my will to the contrary, if a trust created under my will would be partially exempt from generation-skipping transfer tax after the intended allocation of a GST exemption to the trust then: (a) Division into Exempt and Nonexempt Trusts My Trustee may divide the property of the trust into two separate trusts so that the allocation of GST exemption can be made to a trust that will be entirely exempt from generation-skipping transfer tax (the "exempt trust"). The exempt trust shall consist of the largest fractional share of the total trust assets that will permit the exempt trust to be entirely exempt from generation-skipping transfer tax. The "nonexempt trust" shall consist of the balance of the total trust assets. For purposes of computing the fractional share, asset values as finally determined for federal estate tax purposes shall be used. The fraction shall be applied to the assets at their actual value on the effective date or dates of distribution so that the actual value of the fractional share resulting from the application of such fraction will include fluctuations in the value of the trust property. (b) Administration of the Trusts The trusts created under this Section shall have the same terms as the original trust. To the extent possible, distributions to a non-skip person as defined by Section 2613 of the Internal Revenue Code shall be made from a nonexempt trust and distributions to a skip person as defined by Section 2613 shall be made from an exempt trust. My Trustee shall administer each exempt and nonexempt trust as a separate and independent trust. Any exempt or nonexempt trust established under my will may be referred to by the name designated by my Trustee. If an exempt trust and a nonexempt trust are further divided under the terms of my will, my Trustee may allocate property from the exempt trust Page 18 first to the trust from which a generation skipping transfer is more likely to occur. (c) My Intent; Trust Additions My intent is to minimize the application of the generation-skipping transfer tax to the trust property but not to affect the total amount of trust property to which any beneficiary may be entitled under my will. My will shall be so construed and interpreted to give effect to this intent. If at any time any property that has an inclusion ratio greater than zero for generation-skipping transfer tax purposes would be added to a trust with property that has an inclusion ratio of zero, then my Trustee shall instead hold such property in a separate trust on the same terms and conditions as the original trust. (d) Independent Trustee May Confer Power In the event a trust has an inclusion ratio of greater than zero for generation-skipping transfer tax purposes, my Trustee, excluding any Interested Trustee, may during the lifetime of the beneficiary of the trust, grant the beneficiary a testamentary power to appoint all or part of such beneficiary's trust or trust share to the creditors of the beneficiary's estate. The Trustee granting the power of appointment may require, as a condition for the beneficiary's exercise of such power, that the beneficiary obtain the consent of such Trustee. Any testamentary power of appointment granted by the Trustee shall be in writing and may be revoked at any time during the lifetime of the beneficiary to whom the power was given. Article Ten General Administrative Provisions The provisions of this Article apply to my probate estate and to any trust created under my will. Section 10.01 No Bond No Fiduciary shall be required to furnish any bond for the faithful performance of the Fiduciary's duties. If a bond is required by any law or rule of court, no surety shall be required on such bond. Page 19 Section 10.02 Fiduciary Compensation An individual serving as my Fiduciary, other than my wife, shall be entitled to fair and reasonable compensation for the services rendered as a fiduciary. A corporate fiduciary shall be compensated by agreement with an individual Fiduciary or, in the absence of an individual Fiduciary or in the absence of an agreement, in accordance with the corporate fiduciary's published schedule of fees in effect at the time the services are rendered. My Fiduciary may charge additional fees for services it provides that are not comprised within its duties as my Fiduciary such as fees for legal services, tax return preparation and corporate finance or investment banking services. In addition to receiving compensation, my Fiduciary may be reimbursed for reasonable costs and expenses incurred in carrying out its duties under my will. Section 10.03 Employment of Professionals My Fiduciary may appoint, employ and remove, at any time and from time to time, investment advisors, accountants, auditors, depositories, custodians, brokers, consultants, attorneys, expert advisers, agents, and employees to advise or assist the Fiduciary in the performance of its duties. My Fiduciary may act upon the recommendations of the persons or entities employed with or without independent investigation. My Fiduciary may reasonably compensate an individual or entity employed to assist or advise my Fiduciary regardless of whether the person or entity shall be a fiduciary under my will or a corporate affiliate of a fiduciary and regardless of whether the entity shall be one in which a fiduciary is a partner, member, stockholder, officer, director or corporate affiliate or has any other interest. My Fiduciary may pay the usual compensation for services contracted for under this Section out of principal or income of the trust as my Fiduciary may deem advisable. My Fiduciary may pay compensation to an individual or entity employed to assist or advise my Fiduciary without diminution of or charging the same against the compensation to which the fiduciary is entitled under my will. Any fiduciary who shall be a partner, stockholder, officer, director or corporate affiliate in any entity employed to assist or advise my Fiduciary shall nonetheless receive the fiduciary's share of the compensation paid to the entity. Section 10.04 Determination of Principal and Income The Pennsylvania Uniform Principal and Income Act shall govern beneficiaries' rights among themselves in matters concerning principal and income. If the Pennsylvania Uniform Principal and Income Act contains no provision concerning a particular item, my Fiduciary shall determine in a fair, equitable and practical manner what shall be credited, charged, and apportioned between principal and income. Page 20 Section 10.05 Spendthrift Provision Neither the income nor the principal of any trust established under my will shall be assigned, anticipated or alienated in any manner by any beneficiary, nor shall it be subject to attachment, bankruptcy proceedings or any other legal process, or to the interference or control of creditors or others. Nothing contained in this Section shall restrict in any way the exercise of any power of appointment granted in~my will. Section 10.06 Distributions to Incapacitated Persons and Persons Under Twenty-Five Years of Age If my Fiduciary is directed to distribute any share of my probate estate or trust principal to a beneficiary, other than my wife, who is in the opinion of my Fiduciary, under any form of incapacity that renders the beneficiary unable to administer distributions properly when the distribution is to be made, and if no other trust is then to be held under my will for the beneficiary's primary benefit, my Fiduciary may, as Trustee, in my Fiduciary's discretion, continue to hold the beneficiary's share as a separate trust until the beneficiary overcomes the incapacity. When the beneficiary overcomes the incapacity, my Fiduciary shall distribute the beneficiary's trust to him or her, outright free of trust. While any trust is being held under this Section, the Trustee shall pay to the beneficiary for whom the trust is held such amounts of the net income and principal as the fiduciary determines to be necessary or advisable for the beneficiary's health, education, maintenance and support. Upon the death of the beneficiary before that time, the Trustee shall distribute the trust, including any accrued and undistributed income, to such persons as such beneficiary may appoint by his or her will. This general power may be exercised in favor of the beneficiary, the beneficiary's estate, the beneficiary's creditors, or the creditors of the beneficiary's estate. To the extent this general power of appointment is not exercised, on the death of the beneficiary, the trust property shall be distributed to the beneficiary's then living descendants, per stirpes, or, if none, to my then living descendants, per stirpes. If I have no then living descendants the property shall be distributed under the provisions of Article Seven entitled "Remote Contingent Distribution." If any portion of my estate is distributable to a beneficiary under the age of 25, my executor may receive the distribution and act as custodian for the beneficiary, until age 25, under the Pennsylvania Uniform Transfer to Minors Act. Section 10.07 Maximum Term for Trusts Notwithstanding any other provision of my will to the contrary, unless terminated earlier under other provisions of my will, each trust created under my will shall terminate 21 years after the last to die of the descendants of my maternal and paternal grandparents Page 21 and the descendants of my wife's maternal and paternal grandparents who are living at the time of my death. At that time, the remaining trust property shall vest in and be distributed to the persons entitled to receive mandatory distributions of net income of the trust and in the same proportions. If no beneficiary is entitled to mandatory distributions of net income, the remaining trust property shall vest in and be distributed to the beneficiaries entitled to receive discretionary distributions of net income of the trust, in equal shares per stirpes. Section 10.08 Representative of a Beneficiary The guardian of the person of a beneficiary may act for such beneficiary for all purposes under my will or may receive information on behalf of such beneficiary. Section 10.09 Distributions to Beneficiaries Whenever my will authorizes or directs my Fiduciary to make a distribution of net income or principal to a beneficiary, my Fiduciary may apply for the benefit of the beneficiary any property that otherwise could be distributed directly to the beneficiary. My Fiduciary shall have no responsibility to inquire into the beneficiary's ultimate disposition of the distributed property unless specifically directed otherwise by my will. My Fiduciary may make distributions in cash or in kind, or partly in each, in proportions and at values determined by my Fiduciary. My Fiduciary may allocate undivided interests in specific assets to a beneficiary or trust in any proportion or manner that my Fiduciary determines, even though the property allocated to one beneficiary may be different from that allocated to another beneficiary. My Fiduciary may make these determinations without regard to the income tax attributes of the property and without the consent of any beneficiary. Section 10.10 Ancillary Administration In the event ancillary administration shall be required or desired and my domiciliary Executor is unable or unwilling to act as an ancillary fiduciary, my domiciliary Executor shall have the power to designate, compensate, and remove the ancillary fiduciary. The ancillary fiduciary may be either a natural person or a corporation. My domiciliary Executor may delegate to such ancillary fiduciary such powers granted to my original Executor as my Executor may deem proper, including the right to serve without bond or surety on bond. The net proceeds of the ancillary estate shall be paid over to the domiciliary Executor. Section 10.11 Delegation of Authority; Power of Attorney Any Fiduciary may, by an instrument in writing, delegate to any other Fiduciazy the right to exercise any power, including a discretionary power, granted the Fiduciary in my will. Page 22 During the time a delegation under this Section is in effect, the Fiduciary to whom the delegation was made may exercise the power to the same extent as if the delegating Fiduciary had personally joined in the exercise of the power. The delegating Fiduciary may revoke the delegation at any time by giving written notice to the Fiduciary to whom the power was delegated. The Fiduciary may execute and deliver a revocable or irrevocable power of attorney appointing any individual or corporation to transact any and all business on behalf of the trust. The power of attorney may grant to the attorney-in-fact all of the rights, powers, and discretion that the Fiduciary could have exercised. Section 10.12 Merger of Corporate Fiduciary If any corporate fiduciary acting as my Fiduciary under my will is merged with or transfers substantially all of its trust assets to another corporation or if a corporate fiduciary changes its name, the successor shall automatically succeed to the position of my Fiduciary as if originally named my Fiduciary. No document of acceptance of the position of my Fiduciary shall be required. Article Eleven Powers of My Fiduciaries Section 11.01 General Grant of Powers My Fiduciary may perform every act reasonably necessary to administer my estate and any trust. My Fiduciary may execute and deliver any and all instruments in writing, which my Fiduciary considers necessary to carry out any of the powers granted under my will. Section 11.02 Investment Powers in General My Fiduciary may invest in any type of investment that my Fiduciary determines is consistent with the investment goals of my estate or any trust, whether inside or outside the geographic borders of the United States of America and its possessions or territories, taking into account the trust's overall investment portfolio. Without limiting my Fiduciary's investment authority in any way, I request that my Fiduciary exercise reasonable care and skill in selecting and retaining investments. I also request that my Fiduciary take into account the following factors in choosing investments for my estate or any trust: Page 23 The potential return from the investment, both in the form of income and appreciation; The potential income tax consequences of the investment; The investment's potential for volatility; and The role the investment will play in my estate or the trust's portfolio. Y request that my Trustee, in arranging the investment portfolio of any trust, also consider the possible effects of inflation or deflation, changes in global and U.S. economic conditions, transaction expenses, and the trust's need for liquidity. My Fiduciary may delegate its discretion to manage investments to any registered investment adviser or corporate fiduciary. Section 11.03 Banking Powers My Fiduciary may establish bank accounts of any type in one or more banking institutions that my Fiduciary may choose. My Fiduciary may open accounts in the name of my Fiduciary (with or without disclosing fiduciary capacity) or in the name of my estate or the trust. When an account is in the name of my estate or the trust, checks on that account and authorized signatures need not disclose the fiduciary nature of the account or refer to my estate, any trust or Fiduciary. An account from which my Fiduciary makes frequent disbursements need not be an interest bearing account. My Fiduciary may authorize withdrawals from an account by check, draft or other instrument or in any other manner. Section 11.04 Business Powers My Fiduciary is authorized to serve as an officer, director, manager, or in any other capacity of any proprietorship, partnership, joint venture, corporation, or other enterprise in which my estate or any trust has an interest (whether or not such interest is total or controlling). My Fiduciary may receive compensation for its services. My Fiduciary may contract with and otherwise deal with any such enterprise in the same manner as it would with any enterprise in which my estate or the trust has no interest, and may use any voting power my Fiduciary may have to implement its authority (whether as my Fiduciary or as an officer, director, or other official of the enterprise). With respect to any units in a limited liability campany, limited partnership, or stock in a closely-held corporation ("closely-held company") that become part of my estate or any trust, the powers granted to my Fiduciary in this Article shall not disqualify my Fiduciary from acting personally and independently, and not in a fiduciary capacity, with respect to any closely held company, from holding office in the closely-held company, from accepting remuneration from the closely-held company, from voting any units or stock in Page 24 favor of my Fiduciary as a director or officer of the closely-held company, or from purchasing or selling units or stock of the closely-held company. If any trust receives subchapter S stock, my Trustee may either elect to qualify the trust as a qualified subchapter S trust ("QSST") under Section 1361(d)(3) of the Internal Revenue Code or as a electing small business trust under Section 1361(e)(1) to administer the trust in accordance with the requirements of the corresponding Section. Section 11.05 Contract Powers My Fiduciary may sell at public or private sale, transfer, exchange for other property, and otherwise dispose any property contained in my probate estate or any trust for consideration and upon terms and conditions that my Fiduciary deems advisable. My Fiduciary may grant options of any duration for any such sales, exchanges, or transfers of trust property. My Fiduciary may enter into contracts, and may deliver deeds or other instruments, as my Fiduciary deems appropriate. Section 11.06 Common Investments For purposes of convenience with regard to the administration and investment of any trust, my Trustee may invest part or all of the property jointly with trust property of other trusts for which my Trustee is also serving as a Trustee. For this purpose, a corporate fiduciary acting as my Trustee may use common funds for investment. When trust property is managed and invested in this manner, my Trustee shall maintain records that sufficiently identify that portion of the jointly invested assets that constitute the property of the trust. Section 11.07 Environmental Powers My Fiduciary shall have the right to inspect property held directly or indirectly by my probate estate or any trust to determine compliance with or to respond to any environmental law affecting the property. "Environmental law" shall mean any federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment or of human health. My Fiduciary may refuse to accept additional property if my Fiduciary determines that the property is or may be contaminated by any hazardous substance or is or was used for any purpose involving hazardous substances that could create liability to my estate, any trust or to my Fiduciary. My Fiduciary may use the income and principal of my probate estate or a trust to (i) conduct environmental assessments, audits or site monitoring; (ii) take remedial action to contain, clean up or remove any hazardous substance including a spill, discharge or contamination; (iii) institute, contest or settle legal proceedings brought by a private Page 25 litigant or any local, state, or federal agency concerned with environmental compliance; (iv) comply with any order issued by any court or by any local, state, or federal agency directing an assessment, abatement or clean-up of any hazardous substance; and (v) employ agents, consultants and legal counsel to assist my Fiduciary in these actions. My Fiduciary shall not be liable for any loss or reduction in value sustained by my probate estate or a trust as a result of my Fiduciary's retention of property on which hazardous materials or substances requiring remedial action are discovered unless my Fiduciary contributed to the resulting loss or reduction in value through willful misconduct or gross negligence. My Fiduciary shall not be liable to any beneficiary or to any other party for any decrease in the value of probate or trust property as a result of my Fiduciary's compliance with any environmental law, including any reporting requirement. My Fiduciary may release, relinquish or disclaim any power held by my Fiduciary that my Fiduciary determines may cause my Fiduciary to incur individual liability under any environmental law. Section 11.08 Farm, Ranch and Other Agricultural Powers With respect to any operating farm or ranch contained in my probate estate or any trust my Fiduciary may: Retain, acquire, and sell the farm or ranch, whether as a sole proprietorship, partnership, or corporation. Engage in the production, harvesting, and marketing of farm and ranch products either by operating directly or with management agencies, hired labor, tenants, or sharecroppers. Engage and participate in any government farm program, whether state or federally sponsored. Purchase or rent machinery, equipment, livestock, poultry, feed, and seed. Improve and repair all farm and ranch properties; construct buildings, fences, and drainage facilities, and acquire, retain, improve, and dispose of wells, water rights, ditch rights, and priorities of any nature. May do all things I could have done if living to operate the farm or ranch operation to preserve its value for the benefit of the beneficiaries. Section 11.09 Litigation and Settlement Powers My Fiduciary, in its discretion and at the expense of my probate estate or the trust, may institute, join, compromise, settle dismiss and defend any probate or trust property in any Page 26 judicial or administrative proceeding. This shall include specifically, but not limited to proceedings or class actions brought against any public entity or government agency or brought by any such entity for attachment, recoupment, levy, invasion, reformation, or access of any kind to property of my probate estate or a trust. My Fiduciary is authorized to retain such legal counsel and ancillary personnel, as my Fiduciary deems appropriate in the exercise of its discretion. Section 11.10 Loans and Borrowing Powers My Fiduciary may make secured or unsecured loans to any person (including a beneficiary), entity, trust or estate, for any term or payable on demand, with or without interest. My Fiduciary may enter into or modify the terms of any mortgage or security agreement granted in connection with any loan and may release or foreclose on the mortgage or security. My Fiduciary may borrow money at interest rates and on other terms that it deems advisable from any person, institution or other source including, in the case of a corporate fiduciary, its own banking or commercial lending department. My Fiduciary may encumber estate and trust property by mortgages, pledges and other hypothecation and shall have the power to enter into any mortgage, whether as a mortgagee or mortgagor even though the term may extend beyond the termination of the trust and beyond the period that is required for an interest created under my will to vest in order to be valid under the rule against perpetuities. My Fiduciary may purchase, sell at public or private sale, trade, renew, modify, and extend mortgages. My Fiduciary may accept deeds in lieu of foreclosure. Section 11.11 Nominee Powers My Fiduciary may hold real estate, securities and any other estate or trust property in the name of a nominee or in any other form without disclosing the existence of my estate, the trust or fiduciary capacity. Section 11.12 Oil, Gas and Mineral Interests My Fiduciary may acquire, maintain, develop and exploit, either alone or jointly with others, any oil, gas, coal, minerals or other natural resource rights or interests. My Fiduciary may drill, test, explore, mine, develop, extract, remove, convert, manage, retain, store, sell and exchange any of such rights and interests on terms and for a price that my Fiduciary deems advisable. My Fiduciary may execute leases, pooling and unitization agreements and other types of agreements in connection with such oil, gas, coal, mineral and other natural resource rights and interests even though such arrangements may extend beyond the termination of Page 27 the trust and beyond the period that is required for an interest created under my will to vest in order to be valid under the rule against perpetuities. My Fiduciary may execute division orders, transfer orders, releases, assignments, farm outs, and any other instruments that it deems proper. My Fiduciary may employ the services of consultants and outside specialists in connection with the evaluation, management, acquisition, disposition, and development of any mineral interest, and may pay the cost of the services from the principal and income of my estate or the trust. Section 11.13 Payment of Taxes and Expenses Except as otherwise provided in my will, my Fiduciary is authorized to pay all property taxes, assessments, fees, charges, and other expenses incurred in the administration or protection of my estate or any trust. All payments shall be a charge against estate or the trust, as the case may be, and shall be paid out of income and to the extent that income is insufficient, then out of principal. The determination of my Fiduciary with respect to the payment of expenses shall be conclusive upon the beneficiaries. Section 11.14 Qualified Real Property Valuation My Trustee, other than an Interested Trustee, shall have the power to amend the terms of a trust holding "qualified real property" as defined in Section 2032A of the Internal Revenue Code, in order to permit the qualified real property to qualify or continue to qualify for special use valuation permitted under Section 2032A, even if the amendment changes beneficial interests and that directs the segregation of trust property into more than one trust. Section 11.15 Real Estate Powers My Fiduciary may sell at public or private sale, purchase, exchange, lease for any period, mortgage, manage, alter, improve and in general deal in and with real property in such manner and on such terms and conditions as my Fiduciary deems appropriate. My Fiduciary may grant or release easements in or over, subdivide, partition, develop, raze improvements, and abandon, any real property. My Fiduciary may manage real estate in any manner that my Fiduciary deems best and shall have all other real estate powers necessary for this purpose. My Fiduciary may enter into contracts to sell real estate. My Fiduciary may enter into leases and grant options to lease trust property even though the term of the agreement extends beyond the termination of a trust and beyond the period that is required for an interest created under my will to vest in order to be valid under the rule against perpetuities. For such purposes, my Fiduciary may enter into any contracts, covenants and warranty agreements that my Fiduciary deems appropriate. Page 28 Section 11.16 Retention and Abandonment of Trust Property My Fiduciary may retain, without liability for depreciation or loss resulting from retention, any property contained my estate or any trust at the time of its creation or as the result of the exercise of a stock option. My Fiduciary may retain property, notwithstanding the fact that the property may not be of the character prescribed by law for the investment of assets held by a fiduciary, and notwithstanding the fact that retention may result in inadequate diversification under any applicable Prudent Investor Act or other applicable law. My Fiduciary may hold property that is non-income producing or is otherwise nonproductive if holding the property is, in the sole and absolute discretion of my Fiduciary, in the best interests of the beneficiaries. My Fiduciary is permitted to retain a reasonable amount in cash or money market accounts in order to pay anticipated expenses and other costs and to provide for anticipated distributions to or for the benefit of a beneficiary. But my Trustee shall convert any nonproductive property held in any trust qualifying for the federal estate tax marital deduction as qualified terminable interest property under Section 2056(b)(7) of the Internal Revenue Code and for any state death tax marital deduction under the law of any state to productive property upon the written request of my wife. My Fiduciary may abandon any trust property that my Fiduciary deems to be of insignificant value. Section 11.17 Securities, Brokerage and Margin Powers My Fiduciary may buy, sell, trade and otherwise deal in stocks, bonds, investment companies, mutual funds, common trust funds, commodities, options and other securities of any kind and in any amount, including short sales. My Fiduciary may write and purchase call or put options, and other derivative securities. My Fiduciary may maintain margin accounts with brokerage firms and may pledge securities to secure loans and advances made to my Fiduciary or to or for the benefit of a beneficiary. My Fiduciary may place all or any part of the securities held by my estate or a trust in the custody of a bank or trust company. My Fiduciary may have all securities registered in the name of the bank or trust company or in the name of its nominee. My Fiduciary may appoint the bank or trust company as the agent or attorney in fact to collect, receive, receipt for and disburse any income and generally to perform the duties and services incident to a custodian of accounts. My Fiduciary may employ abroker-dealer as a custodian for securities held by my estate or the trust and may register the securities in the name of the broker-dealer or in the name of a nominee with or without the addition of words indicating that the securities are held in a fiduciary capacity. My Fiduciary may hold securities in bearer or uncertificated form and may use a central depository, clearing agency or book-entry system, such as The Depository Trust Company, Euroclear or the Federal Reserve Bank of New York. Page 29 My Fiduciary may participate in any reorganization, recapitalization, merger or similar transaction. My Fiduciary may exercise or sell conversion or subscription rights for securities of all kinds and description. My Fiduciary may give proxies or powers of attorney that may be discretionary and with or without powers of substitution. My Fiduciary may vote or refrain from voting as to any matter. Section 11.18 Tangible Personal Property and Residences My Fiduciary may acquire, maintain and invest in articles of tangible personal property, whether or not the property is income producing, and may pay the expenses of the repair and maintenance of the property. My Fiduciary shall have no duty to convert the property referred to in this Section to productive property except as required by other provisions of my will. My Fiduciary shall have no liability for any depreciation or loss as a result of the retention of any property retained or acquired under the authority of this Section. My Trustee may acquire, maintain and invest in any residence for the use and benefit of the beneficiaries of the trust, whether or not the residence is income producing and without regard to the proportion that the value of the residence may bear to the total value of the trust property and even if retaining the residence involves financial risks that trustees would not ordinarily incur. My Trustee may pay or make arrangements for others to pay all carrying costs of the residence, including, but not limited to, taxes, assessments, insurance, expenses of maintaining the residence in suitable repair, and other expenses relating to the operation of the residence for the benefit of the beneficiaries. My Trustee may permit any income beneficiary of the trust to occupy any real property or use any personal property owned by the trust on terms or arrangements that my Trustee may determine, including rent free or in consideration for the payment of taxes, insurance, maintenance, repairs, or other charges. Section 11.19 Power of Executor to Disclaim and to Distribute Directly to a Beneficiary If such disclaimer can be treated as a Qualified Disclaimer, I give my Executor the power to disclaim any interest, in whole or in part, which my estate may acquire (including an interest in any other estate, trust, insurance proceeds, annuity, contract or pension plan) for any purpose (including overall reduction in death taxes) and without regard to whether such disclaimed property will pass to the same persons, at the same time or in the same manner as if there had been no disclaimer. Page 30 If at my death, the terms of a trust created under my will provide that property is to be distributed outright to a beneficiary, my Executor may make the distribution to the beneficiary without the intervention of my Trustee. Section 11.20 Fiduciaries' Powers Act In addition to all of the above powers, my fiduciaries may, without prior authority from any court, exercise all powers conferred by my will or by common law or by any fiduciary powers act or other statute of the Commonwealth of Pennsylvania or any other jurisdiction whose law applies to my will. My Executor shall have absolute discretion in exercising these powers. Except as specifically limited by my will, these powers shall extend to all property held by my fiduciaries until the actual distribution of the property. Section 11.21 Alternative Distribution Methods My Fiduciary may make any payment provided for under my will or under the terms of any trust established under my will as follows: Directly to the beneficiary; In any form allowed by applicable state law for gifts or transfers to minors or persons under a disability; To the beneficiary's guardian, conservator, agent under a durable power of attorney or caregiver for the benefit of the beneficiary; or By direct payment of the beneficiary's expenses, made in a manner consistent with the proper exercise of the fiduciary's duties hereunder. A receipt by the recipient for any such distribution shall fully discharge my Fiduciary. Section 11.22 Limitation on My Trustee's Powers All powers granted to my Trustee under my will or by applicable law shall be limited as set forth in this Section, unless explicitly excepted by reference to this Section. An Interested Trustee may not exercise or participate in the exercise of discretion with respect to the distribution of income or principal, or the termination of the trust to or for the benefit of a beneficiary, to the extent that the exercise of such discretion is other than for the health, education, maintenance or support of a beneficiary as described under Sections 2041 and 2514 of the Internal Revenue Code. Page 31 Article Twelve Provisions for Payment of Debts, Expenses and Taxes Section 12.01 Payment of Debts and Expenses I direct that all my legally enforceable debts, secured and unsecured, be paid as soon as practicable after my death. Section 12.02 No Apportionment Except as otherwise provided in this Article or elsewhere in my will, my Executor shall provide for payment of all estate, inheritance and succession taxes payable by reason of my death ("death taxes") from my residuary estate as an administrative expense without apportionment and shall not seek contribution toward or recovery of any death tax payments from any individual. For the purposes of this Article, however, death taxes shall not include any additional estate tax imposed by Section 2031(c)(5)(C), Section 2032A(c) or Section 2057(f) of the Internal Revenue Code or any other comparable taxes imposed by any other taxing authority. Nor shall death taxes include any generation-skipping transfer tax, other than a direct skip. Section 12.03 Protection of Exempt Property In no event shall death taxes be allocated to or paid from any assets that are not included in my gross estate for federal estate tax purposes. Section 12.04 Protection of the Marital Deduction Notwithstanding anything to the contrary in my will, no death ,taxes shall be paid from or allocated to any property qualifying for the federal estate tax marital deduction under my will unless there is no other property available to pay the taxes. My Executor shall not pay any administrative expenses from the net income of any property qualifying for the federal estate tax marital deduction under my will if the payment would require a reduction in the estate tax marital deduction under Section 2056(b) of the Internal Revenue Code. Section 12.05 Protection of the Charitable Deduction Notwithstanding anything in my will to the contrary, no death taxes payable as a result of my death shall be allocated to or paid from any assets passing to any organization qualifying for the federal estate tax charitable deduction, or split-interest charitable trusts unless my Executor has first used all other assets available to my Executor. Page 32 Section 12.06 Property Passing Outside of My Will Death taxes imposed with respect to property included in my gross estate for purposes of computing the tax and passing other than by my will shall be apportioned among the persons and entities benefited in the proportion that the taxable value of the property or interest bears to the total taxable value of the property and interests received by all persons benefited. The values as finally determined in the respective tax proceedings shall be the values used for the apportionment of the respective taxes. Section 12.07 Tax Elections In exercising any permitted elections regarding taxes, my fiduciaries may make such decisions as they deem to be appropriate in all the circumstances and my fiduciaries shall be under no duty to make any compensatory adjustment as a consequence of any such election. My Executor may also execute such joint tax returns and pay such taxes or interest and deal with any tax refunds, interest, or credits as it shall deem necessary or advisable, whether in the interest of the other joint tax payer or in the interest of my estate. My Executor, in its sole discretion, may elect to have all, none, or part of the property comprising my estate for federal estate tax purposes qualify for the federal estate tax marital deduction as qualified terminable interest property under Section 2056(B)(7) of the Internal Revenue Code (the "QTIP election") and for any state death tax marital deduction under the law of any state (the "state QTIP Election"). My Executor is not required to make the same election for both federal estate tax purposes and for state death tax purposes. If my Executor makes a partial QTIP election, my Executor shall divide the trust on the basis of the fair market value of the assets of the trust at the time of the division. Article Thirteen Definitions and General Provisions Section 13.01 Definitions For purposes of my will and for the purposes of any trust established under my will, the following definitions shall apply: (a) Adopted and Afterborn Persons A legally adopted person in any generation and his or her descendants, including adopted descendants; shall have the same rights and shall be treated in the same manner under my will as natural children of the Page 33 adopting parent, provided such person is legally adopted prior to attaining the age of 18 years. A person shall be deemed to be legally adopted if the adoption was legal in the jurisdiction in which it occurred at the time that it occurred. (b) Available GST Exemption "My available GST Exemption" means the GST exemption provided in Section 2631 of the Internal Revenue Code in effect at the time of my death; reduced by the aggregate of (1) the amount, if any, of GST exemption allocated to my lifetime transfers, including those allocations made at the time of my death by my Personal Representative, by my Trustee, or by operation of law and (2) the amount, if any, allocated to direct skips as defined in Section 2612(c)(1) of the Internal Revenue Code that do not qualify for an exclusion from the generation-skipping transfer tax occurring at my death to or for the benefit of my descendants. If, at the time of my death, I have made a lifetime transfer to a trust with an inclusion ratio of greater than zero but have not filed a gift tax return and the due date for the gift tax return has not yet passed, my available GST exemption shall also be reduced to the extent necessary and possible to reduce the trust inclusion ratio to zero, thereby exempting the transfer from generation-skipping transfer tax. "My wife's available GST Exemption" means the GST exemption in effect at the time of her death; reduced by the aggregate of (1) the amount, if any, of GST exemption allocated to her lifetime transfers, including those allocations made at the time of her death by her Personal Representative, by her Trustee, or by operation of law and (2) the amount, if any, allocated to direct skips that do not qualify for an exclusion from the generation-skipping transfer tax occurring at her death to or for the benefit of my descendants. If, at the time of her death, she has made a lifetime transfer to a trust with an inclusion ratio of greater than zero but has not filed a gift tax return and the due date for the gift tax return has not yet passed, my wife's available GST exemption shall also be reduced to the extent necessary and possible to exempt the transfer from generation-skipping transfer tax. (c) Descendants The term "descendants" shall include a person's lineal descendants of all generations. Page 34 (d) Education The term "education" is intended to be an ascertainable standard in accordance with Section 2041 and Section 2514 of the Internal Revenue Code and shall include, but not be limited to: Enrollment at private elementary, junior and senior high school including boarding school; Undergraduate and graduate study in any field at a college or university; Specialized, vocational or professional training or instruction at any institution, including private instruction; and Any other curriculum or activity that my Trustee may deem useful for developing the abilities and interests of a beneficiary including, without limitation, athletic training, musical instruction, theatrical training, the arts and travel. The term "education" shall also include distributions made by my Trustee for expenses such as tuition, room and board, fees, books and supplies, tutoring and transportation and a reasonable allowance for living expenses. (e) Fiduciary My "Fiduciary" or "Fiduciaries" shall refer to my Executor and my Trustee, or if they are different persons, either of them. My "Executor" shall include any executor, ancillary executor, administrator, or ancillary administrator, whether local or foreign and whether of all or part of my estate, multiple Executors, and their successors. (f) Incapacity Except as otherwise provided in my will, a person shall be deemed incapacitated in any one of the following circumstances. (1) The Opinion of Two Licensed Physicians An individual shall be deemed incapacitated whenever, in the opinion of two licensed physicians, the individual is unable to effectively manage his or her property or financial affairs, whether as a result of age, illness, use of prescription medications, drugs or other substances, or any other cause. Page 3 5 An individual shall be deemed restored to capacity whenever the individual's personal or attending physician provides a written opinion that the individual is able to effectively manage his or her property and financial affairs. (2) Court Determination An individual shall be deemed incapacitated if a court of competent jurisdiction has declared the individual to be disabled, incompetent or legally incapacitated. (3) Detention, Disappearance or Absence An individual shall be deemed incapacitated whenever he or she cannot effectively manage his or her property or financial affairs due to the individual's unexplained disappearance or absence for more than 30 days, or whenever he or she is detained under duress. An individual's disappearance, absence or detention under duress may be established by an affidavit of any fiduciary. The affidavit shall describe the circumstances of an individual's detention under duress, disappearance or absence and may always be relied upon by any third party dealing in good faith with my fiduciary in reliance upon the affidavit. An individual's disappearance, absence or detention under duress may be established by an affidavit of my Executor. (g) Income Beneficiary The term "income beneficiary" means any beneficiary who is then entitled to receive distributions of the net income of the trust, whether mandatory or discretionary. Unless otherwise provided in my will, the phrase "majority of the 'income beneficiaries" means any combination of income beneficiaries who, if all accrued net income were distributed on the day of a vote by the beneficiaries, would receive more than 50% of the accrued net income. For purposes of this calculation, beneficiaries who are eligible to receive discretionary distributions of net income shall be deemed to receive the income in equal shares. References to a "majority" refer to a majority of the entire trust collectively until my Trustee allocates property to separate trusts or trust shares. After the allocation of property to separate trusts or trust shares, Page 36 references to a "majority" refer to a majority of each separate trust or trust share. (h) Independent Trustee The term "Independent Trustee" means a Trustee who is not an Interested Trustee as defined in subsection (i). Only an Independent Trustee may exercise those powers granted exclusively to an Independent Trustee and when the phrase "other than an Interested Trustee" is used. Whenever my will specifically prohibits an Interested Trustee from exercising discretion or performing an act, then only an Independent Trustee may exercise that discretion or perform that act. An Independent trustee shall not be liable to any person for any good faith exercise or nonexercise of its discretion under my will. (i) Interested Trustee The term "Interested Trustee" means (1) a Trustee who is a transferor of property to the trust (including a person whose qualified disclaimer resulted in property passing to the trust); (2) a Trustee who is a beneficiary of the trust; or (3) a Trustee whom a beneficiary of the trust can remove and replace by appointing a Trustee that is related or subordinate to the beneficiary within the meaning of Section 672(c) of the Internal Revenue Code. For purposes of this subsection "a beneficiary of the trust" means a person who is or in the future may be eligible to receive income or principal from the trust pursuant to the terms of the trust. A person shall be considered a beneficiary of a trust even if he or she has only a remote contingent remainder interest in the trust; however, a person shall not be considered a beneficiary of a trust if the person's only interest is as a potential appointee under a testamentary power of appointment. Q) Internal Revenue Code References to the "Internal Revenue Code" or to its provisions are to the Internal Revenue Code of 1986, as amended from time to time, and the corresponding Treasury Regulations, if any. References to the "Treasury Regulations," are to the Treasury Regulations under the Internal Revenue Code in effect from time to time. If a particular provision of the Internal Revenue Code is renumbered, or the Internal Revenue Code is superseded by a subsequent federal tax law, any reference shall be deemed to be made to the renumbered provision or to the corresponding provision of the subsequent law, unless to do so would clearly be contrary to my intent as expressed in my will. The same rule shall apply to references to the Treasury Regulations. Page 37 (k) Legal Representative As used in my will, the term "legal representative" means a person's guardian, conservator, personal representative, executor, administrator, Trustee, or any other person or entity personally representing a person or the person's estate. (I) Per Stirpes Whenever a distribution is to be made to a person's descendants per stirpes, the distribution shall be divided into as many shares as there are then living children of such person and deceased children of such person who left then living descendants. Each then living child shall receive one share and the share of each deceased child shall be divided among such child's then living descendants in the same manner. (m) Qualified Retirement Plan The term "qualified retirement plan" means a plan qualified under Section 401 of the Internal Revenue Code, an individual retirement arrangement under Section 408 or Section 408A or atax-sheltered annuity under Section 403. The term "qualified retirement benefits" means the amounts held in or distributed pursuant to a plan qualified under Section 401, an individual retirement arrangement under Section 408 or Section 408A, a tax-sheltered annuity under Section 403 or any other benefit subject to the distribution rules of Section 401(a)(9). (n) Shall and May Unless otherwise specifically provided in my will or by the context in which used, I use the word "shall" in my will to command, direct or require, and the word "may" to allow or permit, but not require. In the context of my Trustee, when I use the word "may" I intend that my Trustee may act in its sole and absolute discretion unless otherwise stated in my will. (o) Trust The term "trust," shall refer to any trusts created under the terms of my will. (p) Trustee The term "my Trustee" refers to any person or entity that is from time to time acting as the Trustee and shall include each Trustee individually, multiple Trustees, and their successors. Page 38 (q) Trust Property The phrase "trust property" shall be construed to mean all property held by my Trustee under my will, including all property that my Trustee may acquire from any source. (r) Other Definitions Except as otherwise provided in my will, terms shall be as defined in Pennsylvania Probate, Estates and Fiduciaries Code as amended after the date of my will and after my death. Section 13.02 Contest Provision If, after receiving a copy of this Section, any person shall, in any manner, directly or indirectly, attempt to contest or oppose the validity of my will, (including any codicil to my will), or commences, continues or prosecutes any legal proceedings to set my will aside, then such person shall forfeit his or her share, cease to have any right or interest in my estate, and shall, for purposes of my will be deemed to have predeceased me. This Section shall not apply so as to cause a forfeiture of any distribution otherwise qualifying for the federal estate tax marital deduction or charitable deduction. Section 13.03 Survivorship Presumption If my wife and I die under circumstances in which the order of our deaths cannot be established, my wife shall be deemed to have survived me. If any other beneficiary shall be living at my death, but die within 30 days thereafter, then such beneficiary shall be deemed to have predeceased me for all purposes of my will. Section 13.04 General Provisions The following general provisions and rules of construction shall apply to my will: (a) Singular and Plural; Gender Unless the context requires otherwise, words denoting the singular may be construed as plural and words of the plural may be construed as denoting the singular. Words of one gender may be construed as denoting another gender as is appropriate within the context. The word "or" when used in a list of more than two items may function as both a conjunction and a disjunction as the context requires or permits. Page 39 {b) Headings of Articles, Sections, and Subsections The headings of Articles, Sections, and subsections used within my will are included solely for the convenience and reference of the reader. They shall have no significance in the interpretation or construction of my will. {c) Governing State Law My will shall be governed, construed and administered according to the laws of Pennsylvania as from time to time amended. Questions of admuustration of any trust established undex my will shall be determined by the laws of the sites of administration of .such trust. (dj Notices Unless otherwise stated, whenever my will calls for notice, the notice shall be in writing and shall be personally delivered with proof of delivery, or mailed postage prepaid by certified mail, return receipt requested, to the last known address of the party requiring notice. Notice shall be effective on the date personally delivered or on the date of the return receipt. If a~ party giving notice does not receive the :return receipt but has proof that he or she mailed the notice, notice shall be effective on the date it would normally have been received via certified mail. If notice is required to be given to a minor or incapacitated individual, notice shall, be given to the parent or legal representative of he minor or incapacitated individual. . (e) Severability The invalidity or unenforceability of any provision of my will shall not affect the validity or enforceability of any other provision of my will. If a court of competent jurisdiction determines that any provision is invalid, the remaining provisions of my will shall be interpreted and construed as if :any invalid provision had .never been included in my wi1L . I, Le n C. Morrison, having signed this Will in the presence of `~.,.=~~:.-~-,'~,, ~~a~..f . and ~. ~ ,r~~~s i~t ~~. who attested it at m re uest on thi ~ y q s lay, Uccemticr 2E, ..OOS at Harrisburg, :Pennsylvania, declare this to be my. Last Will and Testament. ~s .~..,~ y Y 1 Leon C. Morrison, Testat,~r Page 40 The above and foregoing Will of Leon C. Morrison was declared by Leon C. Momson in our view and presence to be his Will and was signed and subscribed by the said Leon C. Morrison in our view and presence and at his request and in the view and presence of Leon C. Morrison and in the view and presence of each other, we, the undersigned, witnessed and attested the due execution of the ;.Will of Leon C. Morrison on this day, December 28, 2005. --~--~ ; ~ ~ ~ . ~~ - residing at r. ~~ ~ ~. ~` residing.at r ~` _, .~ ~~ f ~ , ~'! ~ ; ! ~ ~~ ~ ~~.1~ ~- ~ ~4'~ ~V1~..~ f~! E / ~ 1 1 S .„ PENNSYLVANIA SELF .PROVING AFFIDAVIT COMIv10NWEALTH OF PENNSYLVANIA } . ~ . COUNTY OF DAUPHIN ) I, Leon C. Morrison, .the testator whose name is signed to the, attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will; and that .I signed it willingly .and as my free and voluntary act for the purposes therein expressed. Sworn to or affirmed and .acknowledged .before me by Leon C. Morrison, the testator,-.this d~i.y, December ? 8, 2005:. .1 ., ,~ ~~~ ~Leon~C. Morrison, Testator . ... lj E ~~~~ ~~ r ~,~ N y .Public . Page 41 COMMONWEALTH OF PEN~ISYL~ANIA Notarial Seal Amy M. Moya, Notary Public Lower Paxton Twp., Dauphin County My Commission Expires Jan. 29, 200$ Member, Pennsylvania Association of Notaries COMMONWEALTH OF PENNSYLVANIA ) COUNTY OF'DAUPHIN ) We, ~~..%;~.~.,., ~~.... L.~~ and ;.~ G~C~, -~-~-~ ~ ~~, the witnesses whose names are -----r- signed to the attached or foregoing. instrument, being duly qualified according to law, do depose and say that we were present and saw the testator sign and execute the instrument as his Last Will; that the testator signed willingly and executed it as his free and voluntary act for the purposes therein expressed; that each subscribing witness in the hearing and sight of the testator signed the will as a witness; and that to the best of our knowledge the testator was at that time 18 or more years ~ of age, of sound mind, and under no constraint or undue influence. .. Witness ., ~` Witne~ r.+.~ ~r n - , .~` ~~ .. ~ No. Public f'+~ J CAMMONWEA~T~t ~~ pENNSY VAN1A Notarial Seal Amy M. Maya, Notary Public Lower Paxton Twp.,.Dau~htn County ~ My Commission Exp~res an. 29, 20 fi Member, Pennsylvania Assadarion o~ Notaries. Page 42 THE LEON C. MORRISON LIVING TRUST December 8, 2006 LAW OFFICES OF SUSAN E. LEDERER ESTATE PLANNING AND ADMINISTRATION 4811 JONESTOWN ROAD SUITE 226 HARRISBURG, PENNSYLVANIA 17109 The Leon C. Morrison Living Trust Table of Contents Article One Establishing My Trust ...............................................1-1 Section 1.01 Identifying My Trust .............................................................. l-1 Section 1.02 Reliance by Third Parties on Affidavit or Certification of Trust ...................................................................................1-1 Section 1.03 Transferring Property to My Trust ......................................... l-1 Section 1.04 Powers Reserved by Me as Grantor ....................................... l -2 Section 1.05 Grantor Trust Status ...............................................................1-3 Article Two Family Information ..................................................... 2-1 Article Three Trustee Succession Provisions ................................ 3-1 Section 3.01 Resignation of a Trustee ........................................................ 3-1 Section 3.02 Trustee Succession During My Lifetime ............................... 3-1 Section 3.03 Trustee Succession After My Death ...................................... 3-1 Section 3.04 Notice of Removal and Appointment .................................... 3-2 Section 3.05 Appointment of a Cotrustee ................................................... 3-2 Section 3.06 Corporate Fiduciaries ............................................................. 3-3 Section 3.07 Incapacity of a Trustee ........................................................... 3 -3 Section 3.08 Appointment of Independent Special Trustee ........................ 3-3 Section 3.09 Rights and Qbligations of Successor Trustees ....................... 3-3 Article Four Administration of My Trust During My Incapacity ................................................................... 4-1 Section 4.01 Trust Distributions During My Incapacity ............................. 4-1 Article Five Administration of My Trust Upon My Death ............ 5-1 Section 5.01 My Trust Shall Become Irrevocable ...................................... 5-1 Section 5.02 Administrative Trust .............................................................. 5-1 Section 5.03 Payment of My Expenses and Taxes ..................................... 5-1 Section 5.04 Payment of Death Taxes ........................................................ 5-2 Section 5.05 No Apportionment Between Current and Future Interests .................................................................................. 5-2 Section 5.06 Coordination with My Personal Representative .................... 5-3 Section 5.07 Authority to Make Tax Elections ........................................... 5-3 Article Six The Marital Trust ........................................................ 6-1 Section 6.01 Distributions of Net Income ................................................... 6-1 Section 6.02 Distributions of Principal ....................................................... 6-1 Section 6.03 Unproductive Property ........................................................... 6-1 i Section 6.04 Qualified Terminable Interest Property ................................. 6-1 Section 6.05 Termination of the Marital Trust at the Death of My Wife ........................................................................................ 6-2 Article Seven Distribution to Jonathan McCoy ............................... 7-1 Article Eight Remote Contingent Distribution ............................... 8-1 Article Nine Administration of Trusts for Underage and incapacitated Beneficiaries ....................................... 9-1 Section 9.01 Distributions for Underage and Incapacitated Beneficiaries .......................................................................... 9-1 Section 9.02 Methods of Distribution ......................................................... 9-I Section 9.03 Application of Article ............................................................ 9-2 Article Ten Trust Administration ...............................................10-1 Section 10.01 Distributions to Beneficiaries ................................. ...... 10-1 Section 10.02 No Court Proceedings .......................................................... 10-1 Section 10.03 No Bond ............................................................................... 10-1 Section 10.04 Exoneration of My Trustee .................................................. 10-1 Section 10.05 Trustee Compensation ......................................................... 10-2 Section 10.06 Employment of Professionals ................. ....................... 10-2 Section 10.07 Exercise of Testamentary Power of Appointment ............... 10-3 Section 10.08 Determination of Principal and Income ............................... 10-3 Section 10.09 Trust Accounting ................................................................ 10-4 Section 10.10 Action of Trustees; Disclaimer ............................................ 10-5 Section 10.11 Delegation of Trustee Authority; Power of Attorney .......... 10-5 Section 10.12 Authority to Terminate Trusts ............................................. 10-5 Section 10.13 Discretionary Distribution to Fully Utilize Basis Increase Upon Death of Beneficiary .................................... 10-6 Section 10.14 Merger of Corporate Fiduciary ............................................ 10-6 Section 10.15 Beneficiary's Status ............................................................. 10-6 Section 10.16 Discharge of Third Persons .................................................. 10-7 Section 10.17 Certificate by Trustee ........................................................... 10-7 Section 10.18 Funeral and Other Expenses of Beneficiary ........................ 10-? Section 10.19 Generation-Skipping Transfer Tax Provisions .................... 10-7 Article Eleven My Trustee's Powers ...............................................11-1 Section 11.01 Introduction to Trustee's Powers .........................................11-1 Section 11.02 Execution of Documents by My Trustee .............................11-1 Section 11.03 Investment Powers in General .............................................11-1 Section 11.04 Banking Powers ...................................................................11-2 Section 11.05 Business Powers ................................................................... l l -2 Section 11.06 Contract Powers ...................................................................11-2 ii Section 11.07 Section 11.08 Section 11.09 Section 11.10 Section 11.11 Section 11.12 Section 11.13 Section 11.14 Section 11.15 Section 11.16 Section 11.17 Section 11.18 Section 11.19 Section 11.20 Section 11.21 Section 11.22 Article Twelve Section 12.01 Section 12.02 Section 12.03 Section 12.04 Section 12.05 Section 12.06 Section 12.07 Common Investments ..........................................................11-3 Environmental Powers ......................................................... 11-3 Farming and Ranching Operations ...................................... 11-3 Insurance Powers ................................................................. 11-5 Loans and Borrowing Powers .............................................. 11-5 Nominee Powers .................................................................. 11-6 Oil, Gas and Mineral Interests ............................................. 11-6 Payment of Taxes and Expenses .......................................... l l -6 Qualified Family Owned Business Interests Deduction ...... 11-6 Qualified Real Property Valuation ....................................... l l -7 Real Estate Powers ............................................................... l l -7 Residences and Tangible Personal Property ........................ 11-7 Retention and Abandonment of Trust Property ................... 11-8 Securities, Brokerage and Margin Powers ........................... 11-8 Settlement Powers ................................................................ l l -9 Limitation on My Trustee's Powers .................................... 11-9 General Provisions ..................................................12-1 Maximum Term for Trusts ...................................................12-1 Spendthrift Trust Provision ..................................................12-1 Contest Provision .................................................................12-2 Survivorship Presumption ....................................................12-2 Changing the Situs of Administration ..................................12-2 Definitions ............................................................................ 12-2 General Provisions and Rules of Construction ....................12-6 iii The Leon C. Morrison Living Trust Article One Establishing My Trust The date of this trust agreement is December 8, 200b. The parties to this agreement are Leon C. Morrison (the "Grantor") and Leon C. Morrison (the "Trustee"). Section 1.01 Identifying My Trust My trust may be referred to as "Leon C. Morrison, Trustee of the Leon C. Morrison Living Trust dated December 8, 2006, and any amendments thereto." For the purpose of transferring property to my trust, or identifying my trust in any beneficiary or pay-on-death designation, any description referring to my trust shall be effective if it reasonably identifies my trust and indicates that the trust property is held in a fiduciary capacity. Section 1.02 Reliance by Third Parties on Affidavit or Certification of Trust From time to time, third parties may require documentation to verify the existence of this agreement, or particular provisions of it, such as the name or names of my Trustee or the powers held by my Trustee. To protect the confidentiality of this agreement, my Trustee may use an affidavit or a certification of trust that identifies my Trustee and sets forth the authority of my Trustee to transact business on behalf of my trust. The affidavit or certification may include pertinent pages from this agreement, such as title or signature pages. A third party may rely upon an affidavit or certification of trust that is signed by my Trustee with respect to the representations contained in the affidavit or certification of trust. A third party relying upon an affidavit or certification of trust shall be exonerated from any liability for actions the third party takes or fails to take in reliance upon the representations contained in the affidavit or certification of trust. A third party dealing with my Trustee shall not be required to inquire into the terms of this agreement or the authority of my Trustee, or to see to the application that my Trustee makes of funds or other property received by my Trustee. Section 1.03 Transferring Property to My Trust Any person or entity may transfer property of any kind, nature and description to my trust in any manner authorized by law. (a) Initial Funding of My Trust By execution of this agreement, I transfer, convey and assign to my Trustee the trust property described on Schedule A, attached to this agreement. l-1 (b) Acceptance by My Trustee By execution of this agreement, my Trustee accepts and agrees to hold the trust property described on Schedule A. All property transferred to my trust after the date of this agreement must be acceptable to my Trustee. My Trustee may refuse to accept any property. My Trustee shall hold, administer and dispose of all trust property accepted by my Trustee for my benefit and the benefit of my beneficiaries in accordance with the terms of this agreement. (c) Community Property Any community property conveyed to my trust, including the income from such property and the proceeds from the sale of such property, shall retain its character as community property during my life and the life of my wife to the same extent as if it had not been conveyed to my trust. Section 1.04 Powers Reserved by Me as Grantor During my lifetime, I shall retain the powers set forth in this Section in addition to any powers that I reserve in other provisions of this agreement. (a) Action on Behalf of My Trust During any period that I am serving as a Trustee of my trust, I may act for and conduct business on behalf of my trust without the consent of any other Trustee. (b) Amendment, Restatement or Revocation I have the absolute right, at any time and from time to time, to amend, restate, or revoke any term or provision of this agreement in whole or in part. Any amendment, restatement, or revocation must be in a written instrument signed by me. (c) Addition or Removal of Trust Property I have the absolute right, at any time and from time to time, to add to the trust property and to remove any property from my trust. (d) Control of Income and Principal Distributions I have the absolute right to control the distribution of income and principal from my trust. My Trustee shall distribute to me, or to such persons or entities as I may direct, as much of the net income and principal of the trust property as I deem advisable. My Trustee may distribute trust income and principal to me or for my unrestricted use and benefit, even to the exhaustion of all trust property. Any undistributed income shall be added to the principal of my trust. (e) Approval of Investment Decisions I reserve the absolute right to review and change my Trustee's investment decisions; however, my Trustee shall not be required to seek my approval before making investment decisions. 1-2 Section 1.05 Grantor Trust Status By reserving the broad rights and powers set forth in Section 1.04 of this Article, I intend to qualify my trust as a "Grantor Trust" under Sections 671 to 677 of the Internal Revenue Code so that, for federal income tax purposes, I will be treated as the owner during my lifetime of all the assets held in my trust as though I held them in my individual capacity. During any period that my trust is a Grantor Trust, the taxpayer identification number of my trust shall be my social security number, in accordance with Treasury Regulation Section 301.6109-1(a)(2). 1-3 Article Two Family Information I am married to 3eannette Morrison. We were married on August 31, 1951. Any reference in this agreement to "my wife" is a reference to Jeannette Morrison. I have two children. Their names and dates of birth are: Sondra L. McCoy, born on September 3, 1954 and Michael A. Morrison, born on November 30, 1959 All references in this agreement to "my children" are references to these children. I have not made any provisions in this Trust Agreement for my son, Michael A. Morrison, because I feel he is otherwise well provided for. I have named my grandson, Jonathan McCoy, as a beneficiary under this Trust Agreement. 2-1 Article Three Trustee Succession Provisions Section 3.01 Resignation of a Trustee A Trustee may resign by giving notice to me. If I am deceased, a resigning Trustee shall give notice to the income beneficiaries of the trust and to any other Trustee then serving. Section 3.02 Trustee Succession During My Lifetime During my lifetime, this Section shall govern the removal and replacement of my Trustees. (a) Removal and Replacement by Me I may remove any Trustee with or without cause at any time. If a Trustee is removed, resigns or cannot continue to serve for any reason, I may serve as sole Trustee, appoint a Trustee to serve with me or appoint a successor Trustee. (b) During My Incapacity During any time that I am incapacitated, Sondra L. McCoy shall serve as my Trustee. If I am incapacitated, a Trustee may be removed only for cause, which removal must be approved by a court of competent jurisdiction upon the petition of an interested party. All appointments, removals and revocations shall be by signed written instrument. Notice of removal shall be delivered to the Trustee being removed and shall be effective in accordance with the provisions of the notice. Notice of appointment shall be delivered to and accepted by the successor Trustee and shall become effective at that time. A copy of the notice shall be attached to this agreement. Section 3.03 Trustee Succession After My Death After my death, this Section shall govern the removal and replacement of my Trustees. {a) Successor Trustees I appoint Sondra L. McCoy to serve as my successor Trustee upon my death, replacing any then serving Trustee. (b) Removal of a Trustee A Trustee may be removed only for cause, which removal must be approved by a court of competent jurisdiction upon the petition of any beneficiary. 3-1 In no event shall the court petitioned to approve the removal of a Trustee acquire any jurisdiction over the trust except to the extent necessary to approve or disapprove removal of a Trustee. If a beneficiary is a minor or is incapacitated, the parent or legal representative of the beneficiary may act on behalf of the beneficiary. (c) Default of Designation If the office of Trustee of a trust created under this agreement is vacant and no designated successor Trustee is able and willing to act as Trustee, Sondra L. McCoy shall appoint an individual or corporate fiduciary that is not related or subordinate to the person or persons making the appointment within the meaning of Section 672(c) of the Internal Revenue Code as successor Trustee. If Sondra L. McCoy is unable or unwilling to act, the primary beneficiary of the trust shall appoint an individual or corporate fiduciary that is not related or subordinate to the person or persons making the appointment within the meaning of Section 672(c) of the Internal Revenue Code as successor Trustee. Any beneficiary may petition a court of competent jurisdiction to appoint a successor Trustee to fill any vacancy remaining unfilled after a period of 30 days. By making such appointment, the court shall not thereby acquire any jurisdiction over the trust, except to the extent necessary for making the appointment. If a beneficiary is a minor or is incapacitated, the parent or legal representative of the beneficiary may act on behalf of the beneficiary. Section 3.04 Notice of Removal and Appointment Notice of removal shall be in writing and shall be delivered to the Trustee being removed, along with any other Trustees then serving. The notice of removal shall be effective in accordance with its provisions. Notice of appointment shall be in writing and shall be delivered to the successor Trustee and any other Trustees then serving. The appointment shall become effective at the time of acceptance by the successor Trustee. A copy of the notice shall be attached to this agreement. Section 3.05 Appointment of a Cotrustee Any individual Trustee may appoint an individual or a corporate fiduciary as a Cotrustee. A Cotrustee so named shall serve only as long as the Trustee who appointed such Cotrustee serves (or, if such Cotrustee was named by more than one Trustee acting together, by the last to serve of such Trustees), and such Cotrustee shall not become a successor Trustee upon the death, resignation, or incapacity of the Trustee who appointed such Cotrustee, unless so appointed under the terms of this agreement Although such Cotrustee may exercise all the powers of the appointing Trustee, the combined powers of such Cotrustee and the appointing Trustee shall not exceed the powers of the appointing 3-2 Trustee alone. The Trustee appointing a Cotrustee may revoke the appointment at any time with or without cause. Section 3.06 Corporate Fiduciaries Any corporate fiduciary serving under this agreement as a Trustee must be a bank, trust company, or public charity that is qualified to act as a fiduciary under applicable federal and state law and that is not related or subordinate to any beneficiary within the meaning of Section 672(c) of the Internal Revenue Code. Section 3.07 Incapacity of a Trustee If any individual Trustee becomes incapacitated, it shall not be necessary for the incapacitated Trustee to resign as Trustee. For Trustees other than me, a written declaration of incapacity by the Cotrustee, if any, or, if none, by the party designated to succeed the incapacitated Trustee, if made in good faith, will terminate the trusteeship. Section 3.08 Appointment of Independent Special Trustee If for any reason the Trustee of any trust created under this agreement is unwilling or unable to act with respect to any trust property or any provision of this agreement, the Trustee shall appoint, in writing, a corporate fiduciary or an individual to serve as an Independent Special Trustee as to such property or with respect to such provision. The Independent Special Trustee ~ appointed shall not be related or subordinate to any beneficiary of the trust within the meaning of Section 672(c) of the Internal Revenue Code. An Independent Special Trustee shall exercise all fiduciary powers granted by this agreement unless expressly limited elsewhere in this agreement or by the Trustee in the instrument appointing the Independent Special Trustee. An Independent Special Trustee may resign at any time by delivering written notice of resignation to the Trustee. Notice of resignation shall be effective in accordance with the terms of the notice. Section 3.09 Rights and Obligations of Successor Trustees Each successor Trustee serving under this agreement, whether corporate or individual, shall have all of the title, rights, powers and privileges granted to the initial Trustee named under this agreement. In addition, each successor Trustee shall be subject to all of the restrictions imposed upon, as well as all obligations and duties, both discretionary and ministerial, given to the initial Trustee named under this agreement. 3-3 Article Four Administration of My Trust During My Incapacity Section 4.01 Trust Distributions During My Incapacity During any period of time that I am incapacitated, my Trustee shall administer my trust and distribute its net income and principal as provided in this Section. (a) Distributions for My Benefit My Trustee shall regularly and conscientiously make appropriate distributions of trust income and principal for my general welfare and comfort under the circumstances existing at the time such distributions are made. Distributions under this subsection shall include payments for any of my enforceable legal obligations. My Trustee may also make distributions for the payment of insurance premiums for insurance policies owned by me or by my trust, including but not limited to, life, medical, disability, property and casualty, errors and omissions and long-term health care insurance policies. My Trustee is authorized to honor pledges and continue to make gifts to charitable organizations that I have regularly supported in the amounts I have customarily given. The examples included in this subsection are for purposes of illustration only and are not intended to limit the authority of my Trustee to make distributions for my benefit that my Trustee determines to be appropriate. (b) Manner of Making Distributions My Trustee may make distributions for my benefit in any one or more of the following ways: To me, but only to the extent I am able to manage such distributions; To other persons and entities for my use and benefit; To my agent or attorney-in-fact authorized to act for me under a legally valid durable power of attorney executed by me prior to my incapacity; To my guardian or conservator who has assumed responsibility for me under any court order, decree or judgment issued by a court of competent jurisdiction. 4-1 (c) Distributions for the Benefit of My Wife My Trustee may distribute as much of the net income and principal of my trust as my Trustee deems necessary for the health, education, maintenance or support of my wife. I request, but do not require, that my Trustee, in its sole discretion, consider other income and resources available to my wife. 4-2 Article Five Administration of My Trust Upon My Death Section 5.01 My Trust Shall Become Irrevocable Upon my death, my trust shall become irrevocable and my social security number may no longer be used to identify my trust. My Trustee shall apply for a separate taxpayer identification number for my trust. Section 5.02 Administrative Trust After my death and prior to the distribution of trust property as provided in the subsequent Articles of this agreement, my trust shall be an administrative trust but may continue to be known as the Leon C. Morrison Living Trust. My administrative trust shall exist for a reasonable period of time necessary to complete the administrative tasks set forth in this Article. Section 5.03 Payment of My Expenses and Taxes My Trustee is authorized but not directed to pay from the administrative trust: Expenses of my last illness, funeral and burial or cremation, including expenses of memorials and memorial services; Legally enforceable claims against me or my estate; Expenses of administering my trust and my estate; and Court ordered allowances for those dependent upon me. These authorized payments are discretionary with my Trustee. My Trustee may make decisions on these payments without regard to any limitation on payment of such expenses imposed by law and may make payments without obtaining the approval of any court. No third party may enforce any claim or right to payment against my trust by virtue of this discretionary authority. My Trustee shall not pay any administrative expenses from assets passing to an organization that qualifies for the federal estate tax charitable deduction or to asplit-interest charitable trust or from the net income of property qualifying for the estate tax marital deduction, if such payment would result in a reduction in the estate tax marital deduction available to my estate under Section 2056(b) of the Internal Revenue Code or violate the provisions of Treasury Regulation Section 20.2056(b)-4(d). If a probate estate is opened within six months from the date of my death, my Personal Representative shall pay claims, expenses and death taxes from my probate estate to the extent that the cash and readily marketable assets included in my probate estate are sufficient to pay such items. 5-1 Section 5.04 Payment of Death Taxes For the purposes of this Article, the term "death taxes" shall refer to any taxes imposed by reason of my death by federal, state or local authorities, including but not limited to estate, inheritance, gift, and direct-skip generation-skipping transfer taxes. For purposes of this Section, death taxes shall not include any additional estate tax imposed by Section 2031(c)(5)(C), Section 2032A(c) or Section 2057(f) of the Internal Revenue Code or any other comparable recapture tax imposed by any taxing authority. Nor shall death taxes include any generation-skipping transfer tax, other than a direct skip generation-skipping transfer tax. Except as otherwise provided in this Section or elsewhere in this agreement, my Trustee shall provide for payment of all death taxes from my probate estate without apportionment. My Trustee shall not seek contribution toward or recovery of any such payments from any individual. (a) Protection of Exempt Property In no event shall death taxes be allocated to or paid from any assets that are not included in my gross estate for federal estate tax purposes. (b) Protection of the Marital Deduction No death taxes shall be paid from or allocated to any property qualifying for the federal estate tax marital deduction. (c) Property Passing Outside of My Trust Except as to qualified retirement benefits, death taxes imposed with respect to property included in my gross estate for death tax purposes but passing outside of my trust shall be apportioned among the persons and entities benefited in the proportion that the taxable value of the property or interest bears to the total taxable value of all property and interests included in my gross estate for death tax purposes. The values to be used for the apportionment shall be the values as finally determined under federal, state or local law as the case may be. I direct that any death tax paid as a result of the inclusion in my taxable estate of property held in a qualified terminable. interest property "QTIP" trust created for me by my wife be apportioned to and collected from the assets of the QTIP trust as provided in Section 2207A of the Internal Revenue Code. Section 5.05 No Apportionment Between Current and Future Interests No interest in income and no estate for years or for life or other temporary interest in any property or trust are subject to apportionment as between the temporary interest and the remainder. The tax on the temporary interest and the tax, if any, on the remainder are chargeable against the corpus of the property or trust subject to the temporary interest and remainder. 5-2 _ _ _ _ _ _ _ Section 5.06 Coordination with My Personal Representative The following provisions are intended to help facilitate the coordination between my Personal Representative, if any, and my Trustee. These provisions apply even if my Personal Representative and my Trustee are the same person or entity. (a) Reliance on My Personal Representative My Trustee may rely upon the written request of my Personal Representative for payments authorized under this Article and the amounts included in such payments without computing the sums involved. If a payment is made under this Article to my Personal Representative, my Trustee shall not have any duty to inquire into the application of the payment. Section 5.07 Authority to Make Tax Elections Following my death, I authorize my Trustee to make tax elections as provided in this Section. If, however, a Personal Representative is appointed for my probate estate and as my Personal Representative is the recipient of specific statutorily delegated authority relative to any tax election, the discretionary authority granted my Trustee relative to the tax election shall be subordinate to the statutorily delegated authority. (a) Tax Elections My Trustee's authority to make tax elections shall include, but shall not be limited to, the right to choose the alternate valuation date, the right to elect whether to take administration expenses as estate tax deductions or income tax deductions, the right to allocate my unused generation-skipping exemption to all or any portion of the trust property, the right to make special use valuation elections, and the right to defer payment of all or any portion of any taxes. My Trustee may elect to treat my administrative trust as part of my estate for federal or state income tax purposes or both. My Trustee may elect to have trust property qualify for the "family owned business deduction" authorized under Section 2057 of the Internal Revenue Code. My Trustee may enter into any agreement on behalf of my trust that is necessary to validly make such election under the Internal Revenue Code. My Trustee may make equitable adjustments between income and principal on account of any tax elections made by my Trustee. (b~ Qualified Terminable Interest Property My Trustee may elect to have any trust property qualify for the federal estate tax marital deduction as qualified terminable interest property under Section 2056(b)(7) of the Internal Revenue Code (the "QTIP Election") and for any state death tax marital deduction under the law of any state (the "state QTIP Election"). My Trustee is not required to make the same election for both federal estate tax purposes and for state death tax 5-3 purposes. If my Trustee makes a partial QTIP election, my Trustee shall divide the trust on the basis of the fair market value of the assets of the trust at the time of the division. My Trustee shall be indemnified and held harmless from any loss, claim or damage incurred by it as a result of any action taken by a beneficiary against my Trustee arising out of my Trustee's decision to make or not make the QTIP election with respect to any portion of the trust property. My Trustee is expressly authorized to use my trust property to pay directly or reimburse itself for any costs or expenses incurred by my Trustee in defending against any legal action, whether threatened or actual, arising under this provision. My Trustee may make the special election under Section 2652(a)(3} of the Internal Revenue Code to treat all of the trust property of a trust created under this Agreement as to which the QTIP election is made as if the QTIP election with respect to the property had not been made, making me the transferor of such property for purposes of the generation-skipping transfer tax. It is my desire that my Trustee set apart the property to which such election has been made as a separate trust so that the inclusion ratio, as defined in the Internal Revenue Code, of the separate qualified trust is zero. (c) Allocation of GST Exemption My Trustee may elect to allocate or not allocate any portion of the available GST exemption under Section 2631 of the Internal Revenue Code, or a counterpart exemption under any applicable state law, to any property of which I am the transferor or deemed transferor for generation- skipping transfer tax purposes, including any property transferred by me during my life as to which I did not make an allocation prior to death. The exercise of such discretion shall be based on the transfers, gift tax returns and other information known to my Trustee, with no requirement that allocations benefit the various transferees or beneficiaries equally, proportionally, or in any other particular manner. (d) Qualified Conservation Easements My Trustee may create a qualified conservation easement, as defined in Section 2031(c)(8){A) of the Internal Revenue Code in any land held by my trust and make the necessary election provided by Section 2031(c}{6). 5-4 Article Six The Marital Trust If my wife survives me, my Trustee shall hold and administer the remaining trust property in trust as provided in this Article. The trust will be referred to as the "Marital Trust." If my wife does not survive me, my Trustee shall administer the remaining trust property as provided in Article Seven. Section 6.01 Distributions of Net Income My Trustee shall distribute all of the net income of the Marital Trust to my wife at least monthly during her lifetime. Nothing contained in this agreement shall limit the right of my wife to receive the entire net income of the Marital Trust. Section 6.02 Distributions of Principal My Trustee shall distribute to my wife as much of the principal of the Marital Trust as my Trustee determines is necessary or advisable for her health, education, maintenance and support. My Trustee, in its sole discretion, may consider the needs of my wife and other income and resources available to my wife. Section 6.03 Unproductive Property Upon written request of my wife, my Trustee shall convert any nonproductive property held in the Marital Trust to productive property. In addition, my wife shall have the right to require that any nonproductive property held in any qualified retirement plan, private or commercial annuity, an individual retirement annuity, a pension, profit-sharing plan, stock-bonus plan, stock ownership plan or similar arrangement made payable to the Marital Trust be converted to productive property. Section 6.04 Qualified Terminable Interest Property I intend that the Marital Trust property shall constitute qualified terminable interest property for federal and state death tax purposes if and to the extent my Trustee or Personal Representative makes the necessary elections. This agreement shall be interpreted to accomplish such intent. If my Trustee or Personal Representative elects to have some but not all of the property in the Marital Trust qualify as qualified terminable interest property for federal or for state purposes, the qualified property and the non-qualified property shall be separated into separate shares as necessary, but each share shall be held upon identical terms and conditions as if there had been no division. The separate shares may be invested in a common fund with each share owning a proportionate fractional share of the fund. 6-1 Section 6.05 Termination of the Marital Trust at the Death of My Wife The Marital Trust shall terminate upon the death of my wife. My Trustee shall administer the balance or remainder of the Marital Trust as provided in Article Seven. 6-2 Article Seven Distribution to Jonathan McCoy My Trustee shall distribute my remaining trust property (not distributed under prior Articles of this agreement), or other trust property allocated to this Article, to Jonathan McCoy outright, free of trust. If Jonathan McCoy is deceased, the remaining properties shall be distributed to Sondra L. McCoy. If Sondra L. McCoy is deceased, my Trustee shall distribute the remaining properties as provided in Article Eight. 7-1 Article Eight Remote Contingent Distribution If, at any time, there is no person or entity qualified to receive final distribution of my trust estate or any part of it, then my Trustee shall distribute the portion of my trust estate with respect to which the failure of qualified recipients has occurred as follows: Michael A. Morrison 20% Robert E. McCoy 80% If any of the above-named beneficiaries has died, his or her share shall be distributed to the surviving beneficiaries, pro rata. 8-1 Article Nine Administration of Trusts for Underage and Incapacitated Beneficiaries Section 9.01 Distributions for Underage and Incapacitated Beneficiaries If under another provision of this agreement any part of the trust property is directed to be distributed outright, or if a distribution is required to be made, to a person when that person has not yet attained the age of 25 years, or at a time when that person is incapacitated and in the opinion of my Trustee is unable to manage the distribution properly, my Trustee may distribute or retain the trust property in any one or more of the following methods described in Section 9.02. I request, but do not require, that before making a distribution to a beneficiary, my Trustee, to the extent that it is both reasonable and possible, consider the ability the beneficiary demonstrated in managing prior distributions of trust property. Section 9.02 Methods of Distribution My Trustee may distribute or retain trust property in any one or more of the following methods for the benefit of any beneficiary subject to the provisions of this Section: (a) Distribution to Beneficiary My Trustee may distribute trust property directly to the beneficiary. (b} Distribution to Guardian or Conservator or Family Member My Trustee may distribute trust property to the beneficiary's guardian, conservator, parent or a family member or other person who has assumed the responsibility of caring for the beneficiary. (c) Distribution to Custodian My Trustee may distribute trust property to any person or entity, including my Trustee, as custodian for the beneficiary under the Uniform Transfers to Minors Act, or similar statute. (d) Distribution to Other Persons or Entities My Trustee may distribute trust property to other persons and entities for the use and benefit of the beneficiary. (e) Distribution to Agent under Durable Power of Attorney My Trustee may distribute trust property to an agent or attorney-in-fact authorized to act for the beneficiary under a legally valid durable power of attorney executed by the beneficiary prior to the incapacity. 9-1 (f1 Retention in Trust My Trustee may retain trust property in a separate trust for the benefit of the beneficiary until the beneficiary attains 25 years of age or, in the opinion of my Trustee, is no longer incapacitated (as the case may be). My Trustee shall distribute as much of the net income and principal of any trust created under this subsection that my Trustee deems necessary or advisable for the health, education, maintenance and support of the beneficiary for whom the trust was created. My Trustee shall accumulate any undistributed net income and add such income to principal. When the beneficiary for whom a trust is created under this subsection attains 25 years of age or is no longer incapacitated (as the case may be), the beneficiary may withdraw from the trust at any time or times any portion or all of the accumulated trust income and principal. If the beneficiary fails to survive the complete distribution of the trust, then my Trustee shall distribute the balance of his or her trust property to the then living descendants of the beneficiary, per stirpes. If the beneficiary has no then living descendants, my Trustee shall distribute the beneficiary's remaining trust property to my then living descendants, per stirpes. If I have no then living descendants, my Trustee shall distribute the remaining trust property as provided in Article Eight. Section 9.03 Application of Article Any decision made by my Trustee under this Article shall be final, controlling and binding upon all beneficiaries subject to the provisions of this Article. The provisions of this Article shall not apply to distributions to me or to my wife from any trust established under this agreement. 9-2 Article Ten Trust Administration Section 10.01 Distributions to Beneficiaries Whenever this agreement authorizes or directs a Trustee to make a distribution of net income or principal to a beneficiary, the Trustee may apply for the benefit of the beneficiary any property that otherwise could be distributed directly to the beneficiary. The Trustee shall have no responsibility to inquire into the beneficiary's ultimate disposition of the distributed property unless specifically directed otherwise by this agreement. The Trustee may make distributions in cash or in kind, or partly in each, in proportions and at values determined by the Trustee. The Trustee may allocate undivided interests in specific assets to a beneficiary or trust in any proportion or manner that the Trustee determines, even though the property allocated to one beneficiary may be different from that allocated to another beneficiary. The Trustee may make these determinations without regard to the income tax attributes of the property and without the consent of any beneficiary. Section 10.02 No Court Proceedings This trust shall be administered expeditiously, consistent with the provisions of this agreement, free of judicial intervention, and without order, approval ox action of any court. The trust shall be subject to the jurisdiction of a court only if my Trustee or another interested party institutes a legal proceeding. A proceeding to seek instructions or a court determination shall be initiated in the court having original jurisdiction over matters relating to the construction and administration of trusts. Seeking instructions or a court determination shall not subject this trust to the continuing jurisdiction of the court. Section 10.03 No Bond My Trustee shall not be required to furnish any bond for the faithful performance of my Trustee's duties, unless required by a court of competent jurisdiction and only if the court finds that a bond is needed to protect the interests of the beneficiaries. No surety shall be required on any bond required by any law or rule of court, unless the court specifies that a surety is necessary. Section 10.04 Exoneration of My Trustee No successor Trustee is obligated to examine the accounts, records or actions of any previous Trustee or of the Personal Representative of my estate. No successor Trustee shall be in any way or manner responsible for any act or omission to act on the part of any previous Trustee or the Personal Representative of my estate. Unless a Trustee has received notice of removal, the Trustee shall not be liable to me or to any beneficiary for the consequences of any action taken by the Trustee that would have been, but for the prior removal of the Trustee, a proper exercise by the Trustee of the authority granted to the Trustee under this agreement. 10-1 Any Trustee may request and obtain from the beneficiaries or from their legal representatives, agreements in writing releasing the Trustee from any liability that may have arisen from the Trustee's acts or omissions to act and indemnifying the Trustee from liability for the acts or omissions. An agreement described in this paragraph, if acquired from all the living beneficiaries of the trust or from their legal representatives, shall be conclusive and binding upon all parties, born or unborn, who may have, or may in the future acquire, an interest in the trust. The Trustee may require a refunding agreement before making any distribution or allocation of trust income or principal and may withhold distribution or allocation pending determination or release of a tax lien or other lien. This refunding agreement provision shall not apply to any distribution that qualifies for the federal estate tax unlimited marital deduction or the federal estate tax charitable deduction. Section 10.05 Trustee Compensation An individual serving as Trustee shall be entitled to fair and reasonable compensation for the services rendered as a fiduciary. A corporate fiduciary serving as Trustee shall be compensated by agreement with an individual Trustee or, in the absence of an individual Trustee or in the absence of an agreement, in accordance with the corporate fiduciary's published schedule of fees in effect at the time the services are rendered. A Trustee may charge additional fees for services it provides that are not comprised within its duties as Trustee such as fees for legal services, tax return preparation and corporate finance or investment banking services. In addition to receiving compensation, a Trustee may be reimbursed for reasonable costs and expenses incurred in carrying out its duties under this agreement. Section 10.06 Employment of Professionals My Trustee may appoint, employ and remove, at any time and from time to time, investment advisors, accountants, auditors, depositories, custodians, brokers, consultants, attorneys, expert advisers, agents, and employees to advise or assist the Trustee in the performance of its duties. My Trustee may act upon the recommendations of the persons or entities employed with or without independent investigation. My Trustee may reasonably compensate an individual or entity employed to assist or advise my Trustee regardless of whether the person or entity shall be a Trustee of a trust established under this agreement or a corporate affiliate of a Trustee and regardless of whether the entity shall be one in which a Trustee of a trust created under this agreement is a partner, member, stockholder, officer, director or corporate affiliate or has any other interest, My Trustee may pay the usual compensation for services contracted for under this Section out of principal or income of the trust as my Trustee may deem advisable. My Trustee may pay compensation to an individual or entity employed to assist or advise my Trustee without diminution of or charging the same against the compensation to which the Trustee is entitled under this agreement. Any Trustee who shall be a partner, stockholder, officer, director or corporate affiliate in any entity employed to assist or 10-2 advise my Trustee shall nonetheless receive the Trustee's share of the compensation paid to the entity. Section 10.07 Exercise of Testamentary Power of Appointment A testamentary power of appointment granted under this agreement may be exercised by valid will or valid living revocable trust that specifically refers to this power of appointment. The holder of a testamentary power of appointment may exercise the power to appoint property among the permissible appointees in equal or unequal proportions, and on such terms and conditions, whether outright or in trust, as the holder of the power designates. Except where this agreement specifically provides otherwise, the holder of a testamentary power of appointment may grant further powers of appointment to any person to whom principal may be appointed, including a presently exercisable limited or general power of appointment. My Trustee may conclusively presume that any power of appointment granted to any beneficiary of a trust created under this agreement has not been exercised by the beneficiary if my Trustee has no knowledge of the existence of a valid will or valid living revocable trust exercising the power within 3 months after the beneficiary's death. Section 10.08 Determination of Principal and Income The Pennsylvania Uniform Principal and Income Act shall govern beneficiaries' rights among themselves in matters concerning principal and income. If the Pennsylvania Uniform Principal and Income Act contains no provision concerning a particular item, my Trustee shall determine in a fair, equitable and practical manner what shall be credited, charged, and apportioned between principal and income. Notwithstanding any provision of the Pennsylvania Uniform Principal and Income Act or Pennsylvania law to the contrary, my Trustee shall treat distributions from any qualified retirement accounts to any trust established under this agreement in any given year as income to the extent the distribution represents income generated or treated as generated by the qualified retirement account for that year. In addition, my Trustee shall treat annuity and other periodic payments to any trust established under this agreement in any given year as income to the extent the distribution represents income generated and treated as generated by the annuity or other periodic payment for that year; if income information is not available then my Trustee shall apportion the annuity and other periodic payments between principal and income in a fair, equitable and practical manner in accordance with the guidelines set forth in this Section. "Annuity and other periodic payments" refers to distributions made to my Trustee over a fixed number of years or during the life of one or more individuals because of services rendered or property transferred to the payor in exchange for future payments and includes payments made in money or property from the payor's general assets or from a separate fund created by the payor, including a private or commercial annuity, an individual retirement annuity, a pension, profit-sharing plan, stock-bonus plan, stock ownership plan or similar arrangement. 1. To the extent an annuity or other periodic payment is characterized as interest, dividend or other item of income or an annuity or other periodic 10-3 payment is made in lieu of interest, dividend or other item of income; my Trustee shall allocate the payment to income. My Trustee shall allocate to principal the balance of the annuity or other periodic payment as well as any other payment received in the same accounting period that is not characterized as interest, dividend or other item of income. 2. To the extent annuity and other periodic payments are made and no part of the payments are characterized as interest, dividend or other item of income, my Trustee shall use the present value of the annuity and other periodic payments as finally determined for federal estate tax purposes and the Section 7520 rate of the Internal Revenue Code used to determine the value for federal estate tax purposes to prepare an annuitization table to allocate the payments between income and principal. 3. In the event that the amount of annuity and other periodic payments change because of changes in the investment markets or other changes, my Trustee shall allocate the change in the amount of the payments between income and principal in a fair, equitable and practical manner. If, to obtain an estate tax marital deduction for a trust established under this agreement, my Trustee must allocate more of a payment to income than provided for by this section, my Trustee shall allocate to income the additional amount necessary to obtain the marital deduction. Section 10.09 Trust Accounting Except to the extent required by law, my Trustees shall not be required to file annual accounts with any court or court official in any jurisdiction. Upon the written request of a beneficiary, my Trustee shall render an accounting .at least annually to the income beneficiaries of the trust during the accounting period that includes the date of the written request. The accounting shall include the receipts, disbursements, and distributions occurring during the accounting period and a balance sheet of the trust property if no tax return is filed, or may consist just of the tax return for the accounting period if a tax return is filed for the trust. In the absence of fraud or manifest error, the assent by all income beneficiaries to an accounting of an Independent Trustee shall make the matters disclosed in the accounting binding and conclusive upon all persons, both those in existence on the date of this agreement and those to be born in the future who have, or will in the future have, a vested or contingent interest in the trust property. In the case of a minor or incapacitated beneficiary, that beneficiary's natural guardian or legal representative shall give the assent required under this Section. The failure of any person to object to any accounting by giving written notice to my Trustee within 60 days of the person's receipt of a copy of the accounting shall be deemed to be an assent by such person. The trust's financial records and documentation shall be available at reasonable times and upon reasonable notice for inspection by trust beneficiaries and their representatives. My Trustee shall not be required to furnish trust information regarding my trust to any 10-4 individual, corporation, or other entity that is not a beneficiary or the representative of a beneficiary, and is not requesting the information pursuant to a valid court order. Section 10.10 Action of Trustees; Disclaimer Unless otherwise provided in this agreement, whenever I am serving as Trustee, I may make all decisions and exercise all powers and discretions granted to my Trustee under this agreement without the consent of any other Trustee. When I am not serving as a Trustee, if two Trustees are eligible to act with respect to a given matter, the concurrence of both shall be required for action to be taken; if more than two Trustees are eligible to act with respect to a given matter, the concurrence of a majority of my Trustees shall be required for action to be taken. A nonconcurring Trustee may dissent or abstain from a decision of the majority. A Trustee shall be absolved from personal liability by registering its dissent or abstention in the records of the trust. After doing so, the dissenting Trustee shall then act with my other Trustees in any way necessary or appropriate to effectuate the decision of the majority. Notwithstanding any provision of this agreement to the contrary, any Trustee may disclaim or release, in whole or in part, by an instrument in writing, any power it holds as Trustee, irrevocably or for any period of time that the Trustee may specify. The Trustee may make the relinquishment of a power personal to the Trustee or may relinquish the power for all subsequent Trustees. Section 10.11 Delegation of Trustee Authority; Power of Attorney Subject to the limitations set forth in Section 11.22, any Trustee may, by an instrument in writing, delegate to any other Trustee the right to exercise any power (including a discretionary power) granted my Trustee in this agreement. During the time a delegation under this Section is in effect, the Trustee to whom the delegation was made may exercise the power to the same extent as if the delegating Trustee had personally joined in the exercise of the power. The delegating Trustee may revoke the delegation at any time by giving written notice of revocation to the Trustee to whom the power was delegated. My Trustee may execute and deliver a revocable or irrevocable power of attorney granting any individual or entity the power to transact any and all business on behalf of my trust or any other trust created under this agreement. The power of attorney may grant to the attorney-in-fact all of the rights, powers, and discretion that my Trustee is entitled to exercise under this agreement. Section 10.12 Authority to Terminate Trusts If, at any time, my Trustee, other than an Interested Trustee, in its sole discretion, determines that a trust created under this agreement is no longer economical or is otherwise inadvisable to administer as a trust, or if my Trustee, other than an Interested Trustee, deems it to be in the best interest of my beneficiaries, my Trustee, without further responsibility, may terminate the trust and distribute the trust property, including any undistributed net income, in the following order of priority: 10-5 To me, if I am then living; If I am not then living, to my wife, if then a beneficiary of the trust; If I am not then living and my wife is not then a beneficiary of the trust, to the beneficiaries then entitled to mandatory distributions of net income of the trust and in the same proportions; and If none of the beneficiaries are entitled to mandatory distributions of net income, to the beneficiaries then eligible to receive discretionary distributions of net income of the trust, in such amounts and shares as my Trustee, other than an Interested Trustee, may determine. Section 10.13 Discretionary Distribution to Fully Utilize Basis Increase Upon Death of Beneficiary This Section shall apply during any time there is no federal estate tax in effect and Section 1022 of the Internal Revenue Code is in effect. If I have given my Trustee the authority to make distributions of principal to the beneficiary of a trust, my Trustee, other than an Interested Trustee, may, from time to time, distribute to the beneficiary as much of the principal of the trust as such Trustee may determine is advisable so that upon the death of the beneficiary the estate of the beneficiary will have sufficient appreciated assets to fully utilize the aggregate basis increase allowed under Section 1022, excluding the additional basis increase for property acquired by a surviving spouse under Section 1022(c). Before making a distribution of property under this Section, I request, but do not require that the Trustee determine whether there is a good reason to retain the property in trust such as whether or not the asset may be sold in the near future, the need for creditor protection by the beneficiary, protection of the beneficiary from failed marriages and protection of the asset for future generations. My Trustee shall not be liable to any beneficiary for the exercising or failing to exercise its discretion to make a distribution under this Section. Section 10.14 Merger of Corporate Fiduciary If any corporate fiduciary acting as my Trustee. under this agreement is merged with or transfers substantially all of its trust assets to another corporation or if a corporate fiduciary changes its name, the successor shall automatically succeed to the trusteeship as if originally named a Trustee. No document of acceptance of trusteeship shall be required. Section 10.15 Beneficiary's Status Until a Trustee receives notice of the incapacity, birth, marriage, death or other event upon which a beneficiary's right to receive payments may depend, the Trustee shall not be liable for acting or failing to act with respect to the event or for disbursements made in good faith to persons whose interest may have been affected by such event. Unless otherwise provided in this agreement, the parent or legal representative may act on behalf of a beneficiary who is a minor or is incapacitated. 10-6 A Trustee may rely on any information provided by a beneficiary with respect to the beneficiary's assets and income. A Trustee shall have no independent duty to investigate the status of any beneficiary and shall not incur any liability for failure to do so. Section 10.16 Discharge of Third Persons Persons dealing in good faith with my Trustee shall not be required to see to the proper application of money paid or property delivered to my Trustee, or to inquire into the authority of my Trustee as to any transaction. The receipt from my Trustee for any money or property paid, transferred or delivered to my Trustee shall be a sufficient discharge to the person or persons paying, transferring or delivering the money or property from all liability in connection with its application. Section 10.17 Certificate by Trustee A written statement of my Trustee may always be relied upon by, and shall always be conclusive evidence in favor of, any transfer agent or any other person dealing in good faith with my Trustee in reliance upon the statement. Section 10.18 Funeral and Other Expenses of Beneficiary Upon the death of an income beneficiary, my Trustee may pay from trust property the funeral expenses, burial or cremation expenses, enforceable debts and other expenses incurred due to the death of the beneficiary. This Section shall only apply to the extent the income beneficiary has not exercised any testamentary power of appointment granted to him or her under this agreement. My Trustee may rely upon any request by the Personal Representative or members of the family of the deceased beneficiary for payment without verifying the validity or the amounts and without being required to see to the application of the amounts so paid. My Trustee may make decisions under this Section without regard to any limitation on payment of expenses imposed by statute or rule of court and may be made without obtaining the approval of any court having jurisdiction over the administration of the deceased beneficiary's estate. Section 10.19 Generation-Skipping Transfer Tax Provisions Notwithstanding any other provision of this agreement to the contrary, if a trust created under this agreement would be partially exempt from generation-skipping transfer tax after the intended allocation of GST exemption as defined in Section 2631 of the Internal Revenue Code to the trust then: (a) Division into Exempt and Nonexempt Trusts My Trustee may divide the property of the trust into two separate trusts so that the allocation of GST exemption can be made to a trust that will be entirely exempt from generation-skipping transfer tax (the "exempt trust"). The exempt trust shall consist of the largest fractional share of the total trust assets that will permit the exempt trust to be entirely exempt from generation-skipping transfer tax. The "nonexempt trust" shall consist of the balance of the total trust assets. For purposes of computing the 10-7 fractional share, asset values as finally determined for federal estate tax purposes shall be used. The fraction shall be applied to the assets at their actual value on the effective date or dates of distribution so that the actual value of the fractional share resulting from the application of such fraction will include fluctuations in the value of the trust property. (b) Administration of the Trusts The trusts created under this Section shall have the same terms as the original trust. To the extent possible, distributions to a non-skip person as defined by Section 2613 of the Internal Revenue Code shall be made from a nonexempt trust and distributions to a skip person as defined by Section 2613 shall be made from an exempt trust. My Trustee shall administer each exempt and nonexempt trust as a separate and independent trust. Any exempt or nonexempt trust established under this agreement may be referred to by the name designated by my Trustee. If an exempt trust and a nonexempt trust are further divided under the terms of this agreement, my Trustee may allocate property from the exempt trust first to the trust from which a generation skipping transfer is more likely to occur. (c) My intent; Trust Additions My intent is to minimize the application of the generation-skipping transfer tax to the trust property but not to affect the total amount of trust property to which any beneficiary may be entitled under this agreement. This agreement shall be so construed and interpreted to give effect to this intent. If at any time any property that has an inclusion ratio greater than zero for generation-skipping transfer tax purposes would be added to a trust with property that has an inclusion ratio of zero, then my Trustee shall instead hold such property in a separate trust on the same terms and conditions as the original trust. (d) Independent Trustee May Confer Testamentary Power of Appointment My Trustee, excluding any Interested Trustee, may during the lifetime of the beneficiary of the trust, grant the beneficiary a testamentary power to appoint all or part of such beneficiary's trust or trust share to the creditors of the beneficiary's estate. The Trustee granting the power of appointment may require, as a condition for the beneficiary's exercise of such power, that the beneficiary obtain the consent of such Trustee. Any testamentary power of appointment granted by the Trustee shall be in writing and may be revoked at any time during the lifetime of the beneficiary to whom the power was given. I suggest, but do not require, that my Trustee exercise this authority to subject trust property to estate tax instead of the 10-8 generation-skipping transfer tax when it appears that it may reduce overall taxes. 10-9 Article Eleven My Trustee's Powers Section 11.01 Introduction to Trustee's Powers Except as otherwise specifically provided in this agreement, my Trustee may exercise, without prior approval from any court, all the powers conferred by this agreement and any powers conferred by law, including, without limitation, those powers set forth under the common law or statutory law of the Commonwealth of Pennsylvania or any other jurisdiction whose law applies to this trust. The powers set forth in Pennsylvania Probate, Estates and Fiduciaries Code are specifically incorporated into this trust agreement. The powers conferred upon my Trustee by law, including those powers conferred by Pennsylvania Probate, Estates and Fiduciaries Code, shall be subject to any express limitations or contrary directions contained in this agreement. My Trustee shall exercise these powers in the manner my Trustee determines to be in the best interests of the beneficiaries. My Trustee shall not exercise any of its powers in a manner that is inconsistent with the right of the beneficiaries to the beneficial enjoyment of the trust property in accordance with the general principles of the law of trusts. The Trustee of a trust may have duties and responsibilities in addition to those described in this agreement. I encourage my Trustee to obtain appropriate legal advice if my Trustee has any questions concerning its duties and responsibilities as Trustee. Section 11.02 Execution of Documents by nny Trustee My Trustee may execute and deliver any and all instruments in writing that my Trustee considers necessary to carry out any of the powers granted in this agreement. Section 11.03 Investment Powers in General My Trustee may invest in any type of investment that my Trustee determines is consistent with the investment goals of my trust, whether inside or outside the geographic borders of the United States of America and its possessions or territories, taking into account my trust's overall investment portfolio. Without limiting my Trustee's investment authority in any way, I request that my Trustee exercise reasonable care and skill in selecting and retaining trust investments. I also request that my Trustee take into account the following factors in choosing investments for my trust: The potential return from the investment, both in the form of income and appreciation; The potential income tax consequences of the investment; The investment's potential for volatility; and The role the investment will play in the trust's portfolio. 11-1 I request that my Trustee, in arranging the investment portfolio of the trust, also consider the possible effects of inflation or deflation, changes in global and U.S. economic conditions, transaction expenses, and the trust's need for liquidity. My Trustee may delegate its discretion to manage trust investments to any registered investment adviser or corporate fiduciary. Section 11.04 Banking Powers My Trustee may establish bank accounts of any type in one or more banking institutions that my Trustee may choose. My Trustee may open accounts in the name of my Trustee (with or without disclosing fiduciary capacity) or in the name of the trust. When an account is in the name of the trust, checks on that account and authorized signatures need not disclose the fiduciary nature of the account or refer to any trust or Trustee. An account from which my Trustee makes frequent disbursements need not be an interest bearing account. My Trustee may authorize withdrawals from an account by check, draft or other instrument or in any other manner. Section 11.05 Business Powers My Trustee is authorized to serve as an officer, director, manager, or in any other capacity of any proprietorship, partnership, joint venture, corporation, or other enterprise in which the trust has an interest (whether or not such interest is total or controlling). My Trustee may receive compensation for services. My Trustee may contract with and otherwise deal with any such enterprise in the same manner as it would with any enterprise in which the trust has no interest, and may use any voting power my Trustee may have to implement its authority (whether as Trustee or as an officer, director, or other official of the enterprise). With respect to any units in a limited liability company, limited partnership, or stock in a closely-held corporation ("closely-held company") that are contributed to the trust, the powers granted to my Trustee in this Article shall not disqualify my Trustee from acting personally and independently, and not in a fiduciary capacity, with respect to any closely held company, from holding office in the closely-held company, from accepting remuneration from the closely-held company, from voting any units or stock in favor of the Trustee as a director or officer of the closely-held company, or from purchasing or selling units or stock of the closely-held company. If a trust is funded with subchapter S stock, my Trustee may either elect to qualify the trust as a qualified subchapter S trust ("QSST") under Section 1361(d)(3) of the Internal Revenue Code or as an electing small business trust under Section 1361(e)(1) to administer the trust in accordance with the requirements of the corresponding Section. Section 11.06 Contract Powers My Trustee may sell at public or private sale, transfer, exchange for other property, and otherwise dispose of trust property for consideration and upon terms and conditions that my Trustee deems advisable. My Trustee may grant options of any duration for any such sales, exchanges, or transfers of trust property. 11-2 My Trustee may enter into contracts, and may deliver deeds or other instruments, that my Trustee deems appropriate. Section 11.07 Common Investments For purposes of convenience with regard to the administration and investment of the trust property, my Trustee may invest part or all of the trust property jointly with trust property of other trusts for which my Trustee is also serving as a Trustee. For this purpose, a corporate fiduciary acting as my Trustee may use common funds for investment. When trust property is managed and invested in this manner, my Trustee shall maintain records that sufficiently identify that portion of the jointly invested assets that constitute the trust property of this trust, Section 1'1.08 Environmental Powers My Trustee shall have the right to inspect trust property to determine compliance with or to respond to any environmental law affecting the trust property. "Environmental law" shall mean any federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment or of human health. My Trustee may refuse to accept property if my Trustee determines that the property is or may be contaminated by any hazardous substance or is or was used for any purpose involving hazardous substances that could create liability to the trust or to my Trustee. My Trustee may use and expend trust property to (i) conduct environmental assessments, audits or site monitoring; (ii) take remedial action to contain, clean up or remove any hazardous substance including a spill, discharge or contamination; (iii) institute, contest or settle legal proceedings brought by a private litigant or any local, state, or federal agency concerned with environmental compliance; (iv) comply with any order issued by any court or by any local, state, or federal agency directing an assessment, abatement or clean-up of any hazardous substance; and (v) employ agents, consultants and legal counsel to assist my Trustee in these actions. My Trustee shall not be liable for any loss or reduction in value sustained by my trust as a result of my Trustee's retention of property on which hazardous materials or substances requiring remedial action are discovered unless my Trustee contributed to the resulting loss or reduction in value through willful misconduct or gross negligence. My Trustee shall not be liable to any beneficiary or to any other party for any decrease in the value of trust property as a result of my Trustee's compliance with any environmental law, including any reporting requirement. My Trustee may release, relinquish or disclaim any power held by my Trustee that my Trustee determines may cause my Trustee to incur individual liability under any environmental law. Section 11.09 Farming and Ranching Operations If the trust owns or acquires an interest in a farm, ranch or other agricultural property or business, my Trustee may exercise the authority and discretion provided for in this 11-3 Section. The powers granted in this Section are in addition to and not in limitation of all other powers granted to my Trustee in this agreement. (a) Authority to Operate the Farm or Ranch Notwithstanding any duty to diversify imposed by state law, my Trustee may retain and continue to operate a farm or ranch even though the interest may constitute all or a substantial portion of the trust property. My Trustee may take part in the management of the farm or ranch or hire a farm manager or a professional farm management service. My Trustee may delegate any of the powers authorized by this Section to a hired farm manager or professional farm management service. My Trustee may purchase, sell, hold, manage, operate, lease, improve and maintain the farm or ranch, or any interests in the farm or ranch, and in general deal with and do all things necessary to operate the farm or ranch as my Trustee deems advisable. My Trustee may buy, sell and raise livestock; plant, cultivate, harvest and sell cash crops; produce timber or forest products for sale; or lease or rent all or part of the farm or ranch for cash or a share of the crops. My Trustee may contract with hired labor, tenants or sharecroppers. My Trustee may construct, repair and improve farm buildings, fences and other farm or ranch structures including drainage facilities, dig and maintain wells, ponds and lagoons, and participate in cooperative agreements concerning water rights and ditch rights. My Trustee may purchase or rent any kind of farm machinery, equipment, feed and seed necessary for the operation of the farm or ranch. My Trustee may use approved soil conservation practices in order to conserve, improve and maintain the productivity of the soil, and may engage in timber or forest conservation practices. My Trustee may engage and participate in any farm program sponsored by any federal, state or local governmental agency. (b) Business Liabilities If any tort or contract liability arises in connection with the farm or ranch, and if the trust is a responsible party with regard to the liability, my Trustee shall satisfy the liability first from the assets of the farm or ranch, and only then from other trust property. (c) Trus#ee Compensation In addition to the Trustee compensation set forth in Section 10.05, my Trustee may receive additional reasonable compensation for services in connection with the operation of a farm or ranch. My Trustee may receive this compensation directly from the farm or ranch, from the trust or partly from both. 11-4 (d) Conflicts of Interest My Trustee may exercise all of the powers granted in this trust agreement even though my Trustee may be involved with or have a personal interest in the farm or ranch. Section 11.10 Insurance Powers My Trustee may purchase, accept, hold, and deal with as owner, policies of insurance on my life, the life of any beneficiary, or on the life of any person in whom any beneficiary has an insurable interest. My Trustee may purchase disability, medical, liability, long-term health care and other insurance on behalf of and for the benefit of any beneficiary. My Trustee may purchase annuities and similar investments for any beneficiary. My Trustee shall have the power to execute or cancel any automatic premium loan agreement with respect to any policy, and shall have the power to elect or cancel any automatic premium loan provision in a life insurance policy. My Trustee may borrow money to pay premiums due on any policy, either by borrowing from the company issuing the policy or from another source. My Trustee may assign the policy as security for the loan. My Trustee shall have the power to exercise any option contained in a policy with regard to any dividend or share of surplus apportioned to the policy, to reduce the amount of a policy or convert or exchange the policy, or to surrender a policy at any time for its cash value. My Trustee may elect any paid-up insurance or extended term insurance nonforfeiture option contained in a policy. My Trustee shall have the power to sell any policy at its fair market value to anyone having an insurable interest in the policies including the insured. My Trustee shall have the right to exercise any other right, option, or benefit contained in a policy or permitted by the insurance company issuing the policy. Upon termination of the trust, my Trustee shall have the power to transfer and assign the policies held by the trust as a distribution of trust property. Section 11.11 Loans and Borrowing Powers My Trustee may make secured or unsecured loans to any person (including a beneficiary}, entity, trust or estate, for any term or payable on demand, with or without interest. My Trustee may enter into or modify the terms of any mortgage or security agreement granted in connection with any loan and may release or foreclose on the mortgage or security. My Trustee may borrow money at interest rates and on other terms that it deems advisable from any person, institution or other source including, in the case of a corporate fiduciary, its own banking or commercial lending department. My Trustee may encumber trust property by mortgages, pledges and other hypothecation and shall have the power to enter into any mortgage, whether as a mortgagee or 11-5 mortgagor even though the term may extend beyond the termination of the trust and beyond the period that is required for an interest created under this agreement to vest in order to be valid under the rule against perpetuities. My Trustee may purchase, sell at public or private sale, trade, renew, modify, and extend mortgages. My Trustee may accept deeds in lieu of foreclosure. Section 11.12 Nominee Powers My Trustee may hold real estate, securities and any other trust property in the name of a nominee or in any other form without disclosing the existence of any trust or fiduciary capacity. Section 11.13 Oil, Gas and Mineral Interests My Trustee may acquire, maintain, develop and exploit, either alone or jointly with others, any oil, gas, coal, minerals or other natural resource rights or interests. My Trustee may drill, test, explore, mine, develop, extract, remove, convert, manage, retain, store, sell and exchange any of such rights and interests on terms and for a price that my Trustee deems advisable. My Trustee may execute leases, pooling and unitization agreements and other types of agreements in connection with such oil, gas, coal, mineral and other natural resource rights and interests even though such arrangements may extend beyond the termination of the trust. My Trustee may execute division orders, transfer orders, releases, assignments, farm outs, and any other instruments that it deems proper. My Trustee may employ the services of consultants and outside specialists in connection with the evaluation, management, acquisition, disposition, and development of any mineral interest, and may pay the cost of the services from the principal and income of the trust property. Section 11.14 Payment of Taxes and Expenses Except as otherwise provided in this agreement, my Trustee is authorized to pay all property taxes, assessments, fees, charges, and other expenses incurred in the administration or protection of the trust. All payments shall be a charge against the trust property and shall be paid by my Trustee out of the income, or to the extent that the income is insufficient, then out of the principal of the trust property. The determination of my Trustee with respect to the payment of expenses shall be conclusive upon the beneficiaries. Section 11.15 Qualified Family Owned Business Interests Deduction My Trustee, other than an Interested Trustee, shall have the power to amend the terms of a trust holding "qualified family-owned business interests" as defined in Section 2057 of the Internal Revenue Code, in order to permit trust property to qualify for the "family owned business deduction," even if the amendment changes beneficial interests and that directs the segregation of trust property into more than one trust. 11-6 Section 11.16 Qualified Real Property Valuation My Trustee, other than an Interested Trustee, shall have the power to amend the terms of a trust holding "qualified real property" as defined in Section 2032A of the Internal Revenue Code, in order to permit the qualified real property to qualify or continue to qualify for special use valuation permitted under Section 2032A, even if the amendment changes beneficial interests and that directs the segregation of trust property into more than one trust. Section 11.17 Real Estate Powers My Trustee may sell at public or private sale, convey, purchase, exchange, lease for any period, mortgage, manage, alter, improve and in general deal in and with real property in such manner and on such terms and conditions as my Trustee deems appropriate. My Trustee may grant or release easements in or over, subdivide, partition, develop, raze improvements, and abandon, any real property. My Trustee may manage real estate in any manner that my Trustee deems best and shall have all other real estate powers necessary for this purpose. My Trustee may enter into contracts to sell real estate. My Trustee may enter into leases and grant options to lease trust property even though the term of the agreement extends beyond the termination of the trust and beyond the period that is required for an interest created under this agreement to vest in order to be valid under the rule against perpetuities. For such purposes, my Trustee may enter into any contracts, covenants and warranty agreements that my Trustee deems appropriate. Section 11.18 Residences and Tangible Personal Property My Trustee may acquire, maintain and invest in any residence for the use and benefit of the beneficiaries, whether or not the residence is income producing and without regard to the proportion that the value of the residence may bear to the total value of the trust property and even if retaining the residence involves financial risks that trustees would not ordinarily incur. M_ y Trustee may pay or make arrangements for others to pay all carrying costs of the residence, including, but not limited to, taxes, assessments, insurance, expenses of maintaining the residence in suitable repair, and other expenses relating to the operation of the residence for the benefit of the beneficiaries. My Trustee may acquire, maintain and invest in articles of tangible personal property, whether or not the property is income producing, and may pay the expenses of the repair and maintenance of the property. My Trustee shall have no duty to convert the property referred to in this Section to productive property except as required by other provisions of this agreement. My Trustee may permit any income beneficiary of the trust to occupy any real property or use any personal property owned by the trust on terms or arrangements that my Trustee may determine, including rent free or in consideration for the payment of taxes, insurance, maintenance, repairs, or other charges. 11-7 My Trustee shall have no liability for any depreciation or loss as a result of the retention of any property retained or acquired under the authority of this Section. Section 11.19 Retention and Abandonment of Trust Property My Trustee may retain, without liability for depreciation or loss resulting from retention, any property constituting the trust at the time of its creation, at the time of my death or as the result of the exercise of a stock option.. My Trustee may retain property, notwithstanding the fact that the property may not be of the character prescribed by law for the investment of assets held by a fiduciary, and notwithstanding the fact that retention may result in inadequate diversification under any applicable Prudent Investor Act or other applicable law. My Trustee may hold property that is non-income producing or is otherwise nonproductive if holding the property is, in the sole and absolute discretion of my Trustee, in the best interests of the beneficiaries. On the other hand, except when I am serving as a Trustee, my Trustee shall invest contributions of cash and cash equivalents as soon as reasonably practical after the assets have been acquired by the trust. My Trustee is permitted to retain a reasonable amount in cash or money market accounts in order to pay anticipated expenses and other costs and to provide for anticipated distributions to or for the benefit of a beneficiary. But my Trustee shall convert any nonproductive property held in any trust qualifying for the federal estate tax marital deduction as qualified terminable interest property under Section 2056(b)(7) of the Internal Revenue Code and for any state death tax marital deduction under the law of any state to productive property upon the written request of my wife. My Trustee may abandon any trust property that my Trustee deems to be of insignificant value. Section 11.20 Securities, Brokerage and Margin Powers My Trustee may buy, sell, trade and otherwise deal in stocks, bonds, investment companies, mutual funds, common trust funds, commodities, options and other securities of any kind and in any amount, including short sales. My Trustee may write and purchase call or put options, and other derivative securities. My Trustee may maintain margin accounts with brokerage firms and may pledge securities to secure loans and advances made to my Trustee or to or for the benefit of a beneficiary. My Trustee may place all or any part of the securities held by the trust in the custody of a bank or trust company. My Trustee may have all securities registered in the name of the bank or trust company or in the name of its nominee. My Trustee may appoint the bank or trust company as the agent or attorney in fact to collect, receive, receipt for and disburse any income and generally to perform the duties and services incident to a custodian of accounts. My Trustee may employ abroker-dealer as a custodian for securities held by the trust and may register the securities in the name of the broker-dealer or in the name of a nominee with or without the addition of words indicating that the securities are held in a fiduciary capacity. My Trustee may hold securities in bearer or uncertificated form and may use a 11-8 central depository, clearing agency or book-entry system, such as The Depository Trust Company, Euroclear or the Federal Reserve Bank of New fork. My Trustee may participate in any reorganization, recapitalization, merger or similar transaction. My Trustee may exercise or sell conversion or subscription rights for securities of all kinds and description. My Trustee may give proxies or powers of attorney that may be discretionary and with or without powers of substitution. My Trustee may vote or refrain from voting as to any matter. Section 11.21 Settlement Powers My Trustee may settle, by compromise, adjustment, arbitration or otherwise any and all claims and demands in favor of or against the trust. My Trustee may release or abandon any claim in favor of the trust. Section 11.22 Limitation on My Trustee's Powers All powers granted to my Trustee under this agreement or by applicable law shall be limited as set forth in this Section, unless explicitly excepted by reference to this Section. The limitations set forth in this Section shall not apply to me. (a~ An Interested Trustee Limited to Ascertainable Standards An Interested Trustee may not exercise or participate in the exercise of discretion with respect to the distribution of income or principal, or the termination of the trust to or for the benefit of a beneficiary, to the extent that the exercise of such discretion is other than for the health, education, maintenance or support of a beneficiary as described under Sections 2041 and 2514 of the Internal Revenue Code. (b) No Distributions in Discharge of Certain Legal Obligations My Trustee may not exercise or participate in the exercise of discretion with respect to the distribution of income or principal that would in any manner discharge a legal obligation of my Trustee, including the obligation of support. If a beneficiary or any other person has the power to remove a Trustee, that Trustee may not exercise or participate in the exercise of discretion with respect to the distribution of income or principal that would in any manner discharge a legal obligation of the person having the power to remove the Trustee, including that person's obligation of support. 11-9 Article Twelve General Provisions Section 12.01 Maximum Term for Trusts Notwithstanding any other provision of this agreement to the contrary, unless terminated earlier under other provisions of this agreement, each trust created under this agreement shall terminate 21 years after the last to die of the descendants of my maternal and paternal grandparents and the descendants of my wife's maternal and paternal grandparents who are living at the time of my death. At that time, the remaining trust property shall vest in and be distributed to the persons entitled to receive mandatory distributions of net income of the trust and in the same proportions. If no beneficiary is entitled to mandatory distributions of net income, the remaining trust property shall vest in and be distributed to the beneficiaries entitled to receive discretionary distributions of net income of the trust, in equal shares per stirpes. Section 12.02 Spendthrift Trust Provision This Trust, and all Trusts created hereunder, are intended to qualify as Spendthrift Trusts. In addition, all interests in this Trust, or in any Trust hereunder, are intended for the personal protection and welfare of Grantor's named beneficiaries, and no beneficiary shall be allowed to voluntarily or involuntarily assign or anticipate his or her interest in the income or principal of this Trust or any Trust hereunder, and no beneficiary's creditors, nor a spouse or former spouse of any beneficiary, shall be allowed to attach or otherwise reach any such interest before actual payment to the beneficiary. If any beneficiary shall become the subject of a judgment or court order, then during the period in which such judgment or court order remains in effect, such beneficiary shall only be permitted to receive distributions from any Trust created for the benefit of such beneficiary at the discretion of the Trustees. This limitation as to the right of a beneficiary to receive a distribution shall apply notwithstanding any provisions within the trust for such beneficiary which authorize distributions for the health, education, support or maintenance of such beneficiary. In addition, if any beneficiary shall become the subject of a judgment or court order, and such beneficiary is only entitled to discretionary distributions from a Trust created for their benefit, it shall not be an abuse of discretion by the Trustees to withhold distributions to such beneficiary while such judgment or court order is in effect. If the Trustees determine that a beneficiary would not benefit as greatly from any outright distribution of Trust income or principal because of the availability of the distribution to the beneficiary's creditors, the Trustees shall instead expend those amounts for the benefit of the beneficiary. This direction is intended to enable the Trustees to give the beneficiary the maximum possible benefit and enjoyment of all of the Trust income and principal to which the beneficiary is entitled. Nothing contained in this Section shall restrict in any way the exercise of any power of appointment granted in this agreement. 12-1 Section 12.03 Contest Provision If, after receiving a copy of this Section, any person shall, in any manner, directly or indirectly, attempt to contest or oppose the validity of this agreement, (including any amendment to this agreement), or commences, continues or prosecutes any legal proceedings to set this agreement aside, then such person shall forfeit his or her share, cease to have any right or interest in the trust property, and shall, for purposes of this agreement be deemed to have predeceased me. This Section may not be applied so as to cause a forfeiture of any distribution otherwise qualifying for the federal estate tax marital deduction or charitable deduction. Section 12.04 Survivorship Presumption If my wife and I die under circumstances in which the order of our deaths cannot be established, I will be deemed to have survived my wife. If any other beneficiary is living at my death, but dies within 30 days after my death, then the beneficiary will be deemed to have predeceased me for purposes of this agreement. Section 12.05 Changing the Situs of Administration My Trustee may, at any time, remove all or any part of the property or the situs of administration of the trust from one jurisdiction to another. My Trustee may elect, by filing an instrument with the trust records, that the trust shall thereafter be construed, regulated and governed as to administration by the laws of the new jurisdiction. My Trustee may take action under this Section for any purpose my Trustee deems appropriate, including the minimization of any taxes in respect of the trust or any beneficiary of such trust. If necessary, the beneficiaries entitled to receive distributions of net income under the trust may, by majority consent, appoint a corporate fiduciary in the new situs. If a beneficiary is a minor or is incapacitated, the parent or legal representative of the beneficiary may act on behalf of the beneficiary. Section 12.06 Definitions For purposes of this agreement, the following terms have the following meanings: (a) Adopted and Afterborn Persons A legally adopted person in any generation and his or her descendants, including adopted descendants, has the same rights and shall be treated in the same manner under this agreement as natural children of the adopting parent, provided such person is legally adopted prior to attaining the age of 18 years. A person is deemed to be legally adopted if the adoption was ~. legal in the jurisdiction in which it occurred at the time that it occurred. A fetus in utero that is later born alive shall be considered a person in being during the period of gestation. 12-2 (b} Agreement The term "this agreement" means this trust agreement and includes all trusts created under the terms of this agreement. (c) Descendants The term "descendants" shall include a person's lineal descendants of all generations. (d) Education The term "education" is intended to be an ascertainable standard in accordance with Section 2041 and Section 2514 of the Internal Revenue Code and shall include, but not be limited to: Enrollment at private elementary, junior and senior high school including boarding school; Undergraduate and graduate study in any field at a college or university; Specialized, vocational or professional training or instruction at any institution, including private instruction; and Any other curriculum or activity that my Trustee may deem useful for developing the abilities and interests of a beneficiary including, without limitation, athletic training, musical instruction, theatrical training, the arts and travel. The term "education" shall also include distributions made by my Trustee for expenses such as tuition, room and board, fees, books and supplies, tutoring and transportation and a reasonable allowance for living expenses. (e) Grantor The term "Grantor" has the same legal meaning as "Settlor," "Trustor" or any other term referring to the maker of a trust. (f) Incapacity Except as otherwise provided in this agreement, a person is deemed incapacitated in any one of the following circumstances. (1) The Opinion of Two Licensed Physicians An individual shall be deemed incapacitated whenever, in the written opinion of two licensed physicians, the individual is unable to effectively manage his or her property or financial affairs, whether as a result of age, illness, use of prescription medications, drugs or other substances, or any other cause. An individual shall be deemed restored to capacity whenever the individual's personal or attending physician 12-3 provides a written opinion that the individual is able to effectively manage his or her property and financial affairs. (2) Court Determination An individual is deemed incapacitated if a court of competent jurisdiction has declared the individual to be disabled, incompetent or legally incapacitated. (3) Detention, Disappearance or Absence An individual is deemed incapacitated whenever he or she cannot effectively manage his or her property or financial affairs due to the individual's unexplained disappearance or absence for more than 3 0 days, or whenever he or she is detained under duress. An individual's disappearance or absence or detention under duress may be established by an affidavit of my Trustee, or, if no Trustee is serving, by the affidavit of any beneficiary. The affidavit shall describe the circumstances of the individual's disappearance, absence or detention and may be relied upon by any third party dealing in good faith with my Trustee in reliance upon the affidavit. (g) Income Beneficiary The term "income beneficiary" means any beneficiary who is then entitled to receive distributions of the net income of the trust, whether mandatory or discretionary. Unless otherwise provided in this agreement, the phrase "majority of the income beneficiaries" means any combination of income beneficiaries who, if all accrued net income were distributed on the day of a vote by the beneficiaries, would receive more than 50% of the accrued net income. For purposes of this calculation, beneficiaries who are eligible to receive discretionary distributions of net income are deemed to receive the income in equal shares. References to a "majority" refer to a majority of the entire trust collectively until my Trustee allocates property to separate trusts or trust shares. After the allocation of property to separate trusts or trust shares, references to a "majority" refer to a majority of each separate trust or trust share. (h) Independent Trustee The term "Independent Trustee" means a Trustee who is not an Interested Trustee as defined in subsection (i) and includes an Independent Special Trustee appointed under the provisions of Section 3.08. Whenever (1) a power is granted exclusively to an Independent Trustee or (2) the phrase "other than an Interested Trustee" is used, then the power or discretion may be exercised only by an Independent Trustee. Whenever this 12-4 agreement specifically prohibits an Interested Trustee from exercising discretion or performing an act, then only an Independent Trustee may exercise that discretion or perform that act. (i) Interested Trustee The term "Interested Trustee" means (1) a Trustee who is a transferor of property to the trust; (2) a Trustee who is a beneficiary of the trust; (3) a Trustee who is related or subordinate within the meaning of Section 672(c) of the Internal Revenue Code to a transferor of property to the trust or a beneficiary of the trust; or (4) a Trustee whom a transferor of property to the trust or a beneficiary of the trust can remove and replace by appointing a Trustee that is related or subordinate to the beneficiary within the meaning of Section 672(c) of the Internal Revenue Code. For purposes of this subsection "a transferor of property to the trust" includes a person whose qualified disclaimer resulted in property passing to the trust. For purposes of this subsection "a beneficiary of the trust" means a person who is or in the future may be eligible to receive income or principal from the trust pursuant to the terms of the trust. A person shall be considered a beneficiary of a trust even if he or she has only a remote contingent remainder interest in the trust; however, a person shall not be considered a beneficiary of a trust if the person's only interest is as a potential appointee under a testamentary power of appointment. (j) Internal Revenue Code and Treasury Regulations References to the "Internal Revenue Code" or to its provisions are to the Internal Revenue Code of 1986, as amended from time to time, and the corresponding Treasury Regulations, if any. References to the "Treasury Regulations," are to the Treasury Regulations under the Internal Revenue Code in effect from time to time. If a particular provision of the Internal Revenue Code is renumbered, or the Internal Revenue Code is superseded by a subsequent federal tax law, any reference is deemed to be made to the renumbered provision or to the corresponding provision of the subsequent law, unless to do so would clearly be contrary to my intent as expressed in this agreement. The same rule shall apply to references to the Treasury Regulations. (k) Legal Representative or Personal Representative As used in this agreement, the term "legal representative" or "Personal Representative" means a person's guardian, conservator, executor, administrator, Trustee, or any other person or entity personally representing a person or the person's estate. (I) Per Stirpes Whenever a distribution is to be made to a person's descendants "per stirpes," the distribution shall be divided into as many shares as there are 12-5 then living children of the person and deceased children of the person who left then living descendants. Each then living child shall receive one share and the share of each deceased child shall be divided among the child's then living descendants in the same manner. (m) Primary Beneficiary The primary beneficiary of a trust created under this agreement is the oldest income beneficiary of that trust unless some other individual is specifically designated as the primary beneficiary of that separate trust. (n) Qualified Retirement Plan The term "qualified retirement plan" means a plan qualified under Section 401 of the Internal Revenue Code, an individual retirement arrangement under Section 408 or Section 408A or atax-sheltered annuity under Section 403. The term "qualified retirement benefits" means the amounts held in or distributed pursuant to a plan qualified under Section 401, an individual retirement arrangement under Section 408 or Section 408A, a tax-sheltered annuity under Section 403 or any other benefit subject to the distribution rules of Section 401(a)(9). (o) Shall and May Unless otherwise specifically provided in this agreement or by the context in which used, I use the word "shall" in this agreement to command, direct or require, and the word "may" to allow or permit, but not require. In the context of my Trustee, when I use the word "may" I intend that my Trustee may act in its sole and absolute discretion unless otherwise stated in this agreement. (p) Trust The terms "this trust" or "this trust agreement" shall refer to this agreement and all trusts created under the terms of this agreement. (q) Trustee The term "my Trustee" or "Trustee" refers to the Trustee named in Article One and to any successor, substitute, replacement or additional person, corporation or other entity that is from time to time acting as the Trustee of any trust created under the terms of this agreement. The term "Trustee" refers to singular or plural as the context may require. (r) Trust Property The phrase "trust property" shall be construed to mean all property held by my Trustee under this agreement, including all property that my Trustee may acquire from any source. Section 12.07 General Provisions and Rules of Construction The following general provisions and rules of construction shall apply to this agreement: 12-6 (a) Duplicate Originals This agreement may be executed in any number of counterparts, each of which is deemed to be an original. Any person may rely upon a copy of this agreement certified under oath by my Trustee to be a true copy, to the same effect as if it were an original. (b} Singular and Plural; Gender Unless the context requires otherwise, words denoting the singular may be construed as plural and words of the plural may be construed as denoting the singular. Words of one gender may be construed as denoting another gender as is appropriate within the context. The word "or" when used in a list of more than two items may function as both a conjunction and a disjunction as the context requires or permits. (c) Headings of Articles, Sections, and Subsections The headings of Articles, Sections, and subsections used within this agreement are included solely for the convenience and reference of the reader. They have no significance in the interpretation or construction of this agreement. (d) Governing State Law This agreement is governed, construed and administered according to the laws of the Commonwealth of Pennsylvania as from time to time amended, except as to trust property required by law to be governed by the laws of another jurisdiction and unless the Situs of Administration is changed as provided in Section 12.05. (e) Notices Unless otherwise stated, whenever this agreement calls for notice, the notice must be in writing and must be personally delivered with proof of delivery, or mailed postage prepaid by certified mail, return receipt requested, to the last known address of the party requiring notice. Notice is effective on the date personally delivered or on the date of the return receipt. If a party giving notice does not receive the return receipt but has proof that he or she mailed the notice, notice is effective on the date it would normally have been received via certified mail. If notice is required to be given to a minor or incapacitated individual, notice must be given to the parent or legal representative of the minor or incapacitated individual. (f~ Severability The invalidity or unenforceability of any provision of this agreement shall not affect the validity or enforceability of any other provision of this agreement. If a court of competent jurisdiction determines that any provision is invalid, the remaining provisions of this agreement are to be interpreted and construed as if the invalid provision had never been included in this agreement. 12-7 I have executed this agreement on the day and year first above written. This agreement shall be effective when signed by me, whether or not now signed by a Trustee. I certify to the officer taking my acknowledgment that I have read this trust agreement, that I understand it, and that it correctly states the provisions under which my trust property is to be administered and distributed by my Trustee. ~~%r~l~ Leon C. Morrison, Grar~tor and Trustee COMMONWEALTH OF PENNSYLVANIA ) ss. COUNTY OF DAUPHIN ) On this day, ~ , 20~, before me personally appeared Leon C. Morrison, as Grantor and as Trustee, personally known to me (or proved to me on the basis of satisfactory evidence} to be the individual whose name is subscribed to the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed for the purposes therein contained. Witness my hand and official seal. [Seal] of Pub ' My commission expires: COMMONWEALTH OF PENNSYLVANIA Notarial Seen Jacque~ne M. Mindedc~ Notary Public Lower Paxton Twp.~ Dauphin County My CgMtis5icx7 Expires Oct. 25, 2010 Member Pennsytvanfa Association of Notaries 12-8 Schedule A Ten Dollars cash A-1 ~C~Sit~,~tQ /"'~ t , rrw~ r 8-H Ayetuy Apptaisat Services File No. 0100909 .! ~L~ ~~ll t' 1 ~J ~`~ TA1tf~rliLTXI.:'NWS.4a'V9t: ~~ v. ~lz~F.~M ~~ A~i~~D}; "i'YiE ~_ DAY C1i: ' .Ai: _ _ _ , CA1 'IIIE YEAR'~'U 13i:'l'~VEk::1; ItLUYIa k'. IiRi7S'4'N~1~1~~I;T.;:Aad,TIL,L L. BROVYI~"~'~`rX.,i.,, .HIS WTIt'F., of CAItI.iSI.R., PENNSI~LI'ANLA GRANTORS A N i~" LION C. ~rIC-K~OiV, :A'IAlttiiED riIAN, of CAItI.iSLC, YE?V1~tSYL1'A1~TIA ~::- . C:IIANTI<:~ WIT'~ESS~TII, that in rnnsideratioti ofthe stittt of T~RI::E X3t3NDR.irD TiIIRTY NYNE T~3UUSr1ND (5339,Qfaq.tKl) llUI.I.,A'kS, in•ltard Paid, the receipt wherwf'is hereby ackn~w}edged, the maid grAncors da hereby grans and canoe} to tta~ said grAntze, lass heirx and assig,t>: rr1..1. l`l-}A1' GF,RTAM piece ar parcel of land wirh buildings;;nd improvements thereon erected, if arav, siu:pie ire Wertz Ihuta tleigkais, ;Varih il+flddleton Township, CwnbulAnd Cutrnty, Ct)m~nunw~alth of Perv-cytvanin hcsunded an~i aescribexl in accordance Willa Fitaal SuhdiVisitzn T'lart ft?T Paasc Nq. ~ ~t~T Wertz lt.un l•Iaights, recorded an April l b, 2t)0?, in Cumbcrlar-d County 1'I:.un Book 83 Page 37, as follaz~~s, to wit: I:3f~G}:NNITJG rat a pvi:nt an the wCStcrn tight of gray line at R.id~,o i~vct-ttc: (a SA.{lil' rig'nt at way) sa:cl pt)inl 1><:i1lg IUGIttCd t)Il K~iC fvllOwltlg ft)ui t4) cuUtses from the icm~inus of a cwvw ci~rt;tcclin~ said southern tight of way lino of ititi~t; ~•lvenue with tht western right of ~~ay Ii;:e ~~.f' ~~Ie~tclc f?rive {;i SO.Gti' right of way)1.) ~1\orth 52 aegrees ~5 rzainu.es Op scs;onds 'iVcsr a tlistKtaae of 13U.t)tl fees 2.) by t+ Lurvu to tt:rr right; having a rstdiu.5 of 225.(lq, an ar<: tlistant:e of ~ l y.2d fr•~:t 3.} h;~ n curare tt, tlac left haviLtg a ra sus of } 75.t3A foot, an arc distance of 51.21 feet ~.) Na:th 37 dcCrr~s { 5 rrirutos t>tl se;cotuls Cast, a distance. oi' l~ 1.&9 FCCt; ti~CttCC from said paitat of f)agit~:titrg, by I.ot Nts. 4c, Nurtlt S2 cIe{;rres ~lS mir,~.teos OQ zc~-t:rands West, ii diS',~atcc of 1 Sy.Y~ fear to ~3 4x~int; thertc,^ by land no~v pr late of K.wan II. and Italy R. Won North 35 dcgrc^.s X12 cttl.rlLlC5 J .7 srcarcis l:;ast, a distanea of 115.0 feet to a paint; thence by I,ot No. a8 Satoh a? degrees ~: ntinutrrs 00 s~eronds Fast, a distance of t ti2.94 feet to a point an ttae western, ri rLltl. of ~~~ay tine cat' Ridge Avenue; thearcc by said rigUc fllrway, SUUtb 37 degrees ! 5 minutas U0 :xcond~ Insc # 24k: S; ~ 1 ~1,~3Yd(K1~ n:u3:22 Mt~_._._ . _ ............ _____ ...................... _... CuMFtL~tRNt~ t:glil`-''Y ..............._...... ...,.-..,...__....... .._p .__ 4~ - P~~..... Form produced f;y Untted Systems Software Company (800) 969-8727 wwrr.uniledsystems.com B-H Agency Appraisal Services File No 0100909 West, zs di3iarce of 115.00 feet to a paint, the piac:C uC fiECrlN:~tING. SAIn TRrj1C7' CC~NTAWS 18,~Gt).?.] sgttare'cct cr 0: }~6l Ecr~~s. L~F.sITC~ I.~~t;~4? efthe'l~:nul $ubc:ivisic>;;s Plan of Wertz Run. Heights, C:irlislc, C"utnbCrlr~nd .,•. ~; ~. C~Ituty, Pznncyltiania. ..;. liNl:)I;R AhU SU13J>±C'i' tc~ Utxlaratiziti~fi~'$wlairg arit3~Cise'~cstric;itors far t}sc l:iratsl S:tbciivisinn Plan of Wertz Ruu Aeights, datesi T)c;,ernher t~6,1g93 and recorded in Misrelli::eous l3ckik 463, Yaffe i 1 ?$. t . : ; ~:; ~.;. IT I3 E~lir"G Tl-fE same premises which Kollasasrl;(osstiti}ibulos, tz Pf'1 Gercral f?artnership and Snider•Miller }3ttildcrl;. by rlteir 4eed datet~ 3ailtiitry'2I. X004 and rrxorded January 26, 2044 iu tlic C)fCias of ilte .Recorder of l~eec-s in and ter~Cuml~rl~tid County, Yertnsvlvania, iii Deec! I.3crok '?f:1 at ~i'itge 24p4, grarattci and w::veyed anty 1?1`opH;E.;1`#roweev+~ell and sill L. $rt)wne~w4ll, thG CiT2tltnrS ht:rCilt. + AN17 tine said Grantors do hereby }YARR~i~V~`:Z'prEGl~ {lie property htrehy cumLyed. ~T~.. .•~• I~'~ 6YI.T.NF:4,5' I~fiG1iG"4F, said Grantors tiav~:~ei^tuli~oset their hands and seals the day and yrar first above written. • tiVt't'N1SSc ~ ~~• `'~. .. ~ ><~~~ ri F. nnt~wNlrwciL~, :. _ JI~.LL.1ilZi}WNLWLL[. -_ .+ ., tn5:.rt .Dt~ 6~ - P2yk 2 Q 4 OttZ9.'2@U8 n-va 7: Na.:.~ . ............ ... .... ........ ._ -,trtfh~RF.~'.JWp COI.;P~ ~._~~~ ~~....~~. ~~...._....._ _ .. _., •.. ~;._..G _.... {. _._1 Form produced try lh-ded Systems SoMware Company (600)969-8727 www.unitedsystems.com SELF-CONTAINED APPRAISAL REPORT COMMERCIAL PROPERTY 1129 HARRISBURG PIKE CARLISLE, PENNSYLVANIA PREPARED FOR THE ESTATE OF LEON C. MORRISON BY LARRY E. FOOTS DIVERSIFIED APPRAISAL SERVICES 35 EAST HIGH STREET, SUITE 101 CARLISLE, PENNSYLVANIA 17013-3052 (717) 249-2758 COPY TABLE OF CONTENTS PAGE NO. Table of Contents ........................................................................................................2 Letter of Transmittal ...................................................................................................3 Summary of Important Facts and Conclusions ...........................................................4 Appraisal Certificate ...................................................................................................5 Intended Use of the Appraisal ................................................................................... ..7 Location Analysis ..................................................................................................... ..8 Zoning ....................................................................................................................... 12 Ownership History .................................................................................................... 14 Estimated Marketing Time ....................................................................................... 14 Economic Trends ...................................................................................................... 14 Site Description ......................................................................................................... 15 Improvements ........................................................................................................... 16 Taxes and Assessment ..............................................................................................18 Highest and Best Use ................................................................................................19 Cost Approach ..........................................................................................................23 . Sales Comparison Approach .....................................................................................26 Income Approach ..................................................................................................... .35 Reconciliation and Final Value Estimate ................................................................. .38 Underlying Assumptions and Limiting Conditions ................................................. .39 Certificate of Appraisal ............................................................................................ .42 Privacy Notice .......................................................................................................... .43 APPENDIX Qualifications of the Appraiser Photographs Location Map 2 Diversified Appraisal Services Real Estate Appraisers and Consultants TO: The estate of Leon C. Morrison FM: Larry E. Foote RE: Self-contained Appraisal Report Commercial Property 1129 Harrisburg Pike Carlisle, Pennsylvania 35 Easf High Street Carlisle, PA 17013-3052 (717) 249-2758 FAX (717) 258-4701 February 5, 2009 At your request, I have appraised the captioned property. The appraisal report, which follows this letter, is submitted in support of my opinion of Market Value of the Leased Fee Interest in the property, as of December 4, 2008. I hereby certify that, to the best of my knowledge and belief, the data, facts, and opinions set forth therein, are accurate, subject to the Statement of Assumptions and Lim- iting Conditions that is also made a part of the report, and that the indicated Market Value of the subject property, as of December 4, 2008 is: THREE HUNDRED FORTY-SEVEN THOUSAND DOLLARS $347,000 This appraisal has been made in conformity with the standards of professional practice of the National Association of Realtors Appraisal Section. I appreciate your hav- ing considered me for this assignment and trust that you find the report entirely satisfac- tory. Respectfully submitted Larry .Foote Certified General Appraiser GA-000014-L 3 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS LOCATION: 1129 Harrisburg Pike Carlisle, Pennsylvania TAX PARCEL NUMBER: 21-18-1363-061 OWNERSHIP: Leon C. Momson. LTD SIZE: 5.06 acres. ZONING: Commercial Highway and Village Center Districts. FLOOD HAZARD DATA: The subject is not located in a FEMA identified flood haz- ard area according to map #420363-0015-B. PROPERTY RIGHTS: Leased fee interest. SCOPE OF ASSIGNMENT: The scope of the assignment included an analysis of the subject's area, an inspection of the subject property, an es- timation of the property's highest and best use, considera- tion of all three approaches to value, and the application of those relevant to the valuation of the subject. IMPROVEMENTS: Commercial building, single-family dwelling and two mobile homes. OB3ECTIVE: To estimate the market value of the subject property as un- encumbered. USE OF THE APPRAISAL: To assist in settlement of the estate of Leon C. Morrison. EFFECTIVE DATE: December 4, 2008. HIGHEST AND BEST USE: Continued use as a mixed use property. COST APPROACH: N.A. SALES APPROACH: $347,000 INCOME APPROACH: $298,000 VALUE CONCLUSION: $347,000 4 I hereby certify that upon application for valuation by: THE ESTATE OF LEON C. MORRISON the undersigned personally inspected the following described property: All that certain tract of land, with the improvements thereon erected, situate in Middlesex Township, Cumberland County, Pennsylvania, more particularly bounded and described as follows: Beginning at an iron pin on the southern right-of--way line of U.S. Route No. 11 on the line of land now or formerly of Paul H. Gulden; thence along the latter, South 37 degrees 44 minutes 42 seconds East, a distance of 225.3 8 feet to an iron pin; thence along the same, North 54 degrees 28 minutes l0 seconds East, a distance of 100.00 feet to an iron pin on the line of land now or formerly of R.H. Carpenter; thence along the latter, South 37 degrees 44 minutes 42 seconds East, a distance of 334.37 feet to a post; thence along the same, South 55 degrees 30 minutes 00 seconds West, a distance of 461.42 feet to a corner post; thence along the same, North 46 degrees 45 minutes 40 seconds West, a distance of 306.91 feet to a stake on the line of land now or formerly of Leon C. Morri- son; thence along the latter, North 54 degrees 28 minutes 10 seconds East, a distance of 20.20 feet to a stake; thence along the same, North 35 degrees 3l minutes 50 seconds West, a distance of 23.67 feet to an iron pin; thence along the same, North 54 degrees 28 minutes 10 seconds East, a distance of 115.00 feet to an iron pin; thence along the same, North 35 degrees 31 minutes 50 seconds West, a distance of 226.33 feet to a stake on the southern right~of--way line of U.S. Route No. 11; thence along the latter, North 54 degrees 5 28 minutes 10 seconds East, a distance of 264.29 feet to an iron pin, the place of begin- ping. Containing 5.060 acres according to a survey by Larry V. Neidlinger, R.E., dated May 24, 1979. To the best of my knowledge and belief the statements contained in this report are true and correct, and that neither the employment to make this appraisal report nor the compensation is contingent upon the value reported, and that in my opinion the Market Value as of December 4, 2008 is: THREE HUNDRED FORTY-SEVEN THOUSAND DOLLARS $347,000 The property was appraised as a whole, subject to the contingent and limiting conditions outlined herein. i Larry E. Foote Certified General Appraiser GA-000014-L 6 INTENDED USE OF THE APPRAISAL The intended use of this appraisal is to estimate the Market Value of the subject property as of December 4, 2008. 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 speci- feed date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated. b. Both parties are well informed or well advised, and each 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 fi- nancial arrangements comparable thereto. e. 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. Source: Office of the Comptroller of the Currency, 12 CFI §34.42(fj. 7 LOCATION ANALYSIS The subject property is located in the south central part of Pennsylvania in Cum- berland County, which is part of the Harrisburg-Lebanon-Carlisle Metropolitan Statistical Area (MSA), which consists of Cumberland, Dauphin, Lebanon and Perry counties. Cumberland County has pronounced boundaries. The Susquehanna River forms the east- ern boundary shared with Dauphin County and the state capitol, Harrisburg. The Yellow Breeches Creek forms the southeastern boundary with York County. The boundary then extends to the southwest following the Paney and South Mountains. That line also con- stitutes the southern boundary with Adams County. The southwestern boundary with Franklin County is traced by Laughlin Run, Middle Spring Creek, Gum Run, and Maines Run while the ridge line of Blue Mountain forms the northern boundary with Perry County. This region is one of the most strategically located areas in the Eastern United States and the major center for food distribution in the Middle Atlantic market region which contains over 40 million people. Based upon statistics from the Commonwealth of Pennsylvania Department of Labor and Industry Bureau of Research and Statistics, Pennsylvania's seasonally adjusted civilian labor force -the number of people working or looking for work --- rose by 38,000 residents in June, 2007 to 6,296,000. Resident employment grew by 39,000 in June, 2007 accounting for all of the labor force growth. Unemployment was down by 2,000 people. The civilian labor force was down just 9,000 from June 2006, with unem- ployment down 40,000 during the same time period. 8 Pennsylvania's seasonally adjusted unemployment rate fell to 4.1 percent in June, down one-tenth of a percentage point from May. The state rate was down seven-tenths of a percentage point from the June 2006 rate of 4.8 percent. Pennsylvania's seasonally ad- justed unemployment rate remained below the United States' rate (4.5 percent in June) for the fifth consecutive month. Pennsylvania's seasonally adjusted total nonfarm jobs count rose by 900 in June to a new record high level of 5,799,400 jobs. Total jobs in the state have now increased in 11 of the past 12 months. Service-producing industries continued to account for all of the job growth, adding a combined 2,500 jobs. Professional & business services and govern- ment were the only supersectors to show significant increases -1,500 and 1,600 jobs, respectively - in June. Since June 2006, Pennsylvania added 49,900 jobs, an increase of 0.9 percent. Major east-west transportation links serving the general area are U.S. Route 22 and 322, Interstate Route 78, and Interstate Route 76. Major nearby north-south arteries include Interstate Route $1, Interstate Route 83, and U.S. Routes 11 and 15. Rail service is provided by Amtrak on ConRail's line. The rail terminal is located in downtown Har- risburg. Air transportation includes four airports with Harrisburg International Airport serving the major carriers of U.S. Air, American, and Pennsylvania Commuter Air Lines. General aviation is also served by Capital City Airport and the Carlisle Business Airport. Higher education is offered through the Harrisburg Area Community College, the University Center at Harrisburg, Pennsylvania State University at Harrisburg, Dickinson College and Dickinson Law School. Millersville State University, Shippensburg State 9 University, Susquehanna University, Franklin and Marshall College, and York College, among others, are all within a one hour drive of the general area. Carlisle is located in the southeast section of central Pennsylvania, approximately twenty-two miles from Harrisburg, the state capitol. The town itself is presently under- going aconsiderable degree of renovation and restoration of older properties. The south- east portion of Carlisle along Interstate 81 is currently experiencing rapid growth with restaurants, offices, motels and other businesses. Employment opportunities are good, with Commonwealth of Pennsylvania em- ploying approximately 35,000 area workers, Harrisburg being the State Capital. The United States Government employs approximately 14,000, most of which serve two large supply depots, the Army Supply Depot at New Cumberland and the Ship's Parts Control Depot in Mechanicsburg. Some of the largest employers in the Harrisburg area include the Commonwealth of Pennsylvania; the United States Government; United States Postal Service; Hershey Foods Corporation; Naval Support Activity, Mechanicsburg; Pennsyl- vania Blue Shield; Hershey Medical Center; Defense Distribution Center,l~Iew Cumber- land; Pinnacle Health System; Electronic Data Systems; PPG Industries; Giant Food Stores; Ross Distribution; United States Army War College and Carlisle Barracks; Capi- tal Blue Cross; and Fry Communications, Inc. The economic base of the area is diversified and extends from strong government, service related and transportation facilities, and commercial and industrial uses. Unem- ployment rates are consistently some of the lowest reported in the area. This is due for the most part to high State and Federal Government employment, as well as expanding private sector uses of distribution and office facilities. 10 ZONING The subject property is located in two land use zones. The front 1.17 acres of the property, which fronts on the Harrisburg Pike is zoned Commercial Highway District and the rear 3.89 acres of the site is zoned Village Center. COMMERCIAL HIGHWAY DISTRICT: This district is designed to accommodate the needs of transient highway travelers who may require automotive service, food and lodg- ing. Other similar uses serving community needs pertaining to automotive sales and ser- vicing are also provided for in these districts. In a Commercial Highway District, no building or premises shall be used and no building shall be erected, which is arranged, intended or designed to be used in whole or in part, for any purpose except those listed below, and all such uses shall be subject to Land Development Plan approval in accordance with the Middlesex Township Subdivi- sion and Land Development Ordinance and those regulations specified elsewhere in the zoning ordinance. A. Retail businesses, such as variety stores, apparel stores, drug stores, grocery stores, eating and drinking establishments, liquor stores, antique shops, auc- tion houses, music shops, sporting goods stores, and book, stationery, maga- tine, candy and tobacco shops. B. Business services, such as banks, credit unions, loan companies and other fi- nancial institutions, real estate and insurance agencies, utility offices, gov- ernment, business and professional offices, and veterinary clinics. C. Personal services, such as barber shops, beauty salons, photographic studios, coin operated Laundromats, tailor, dress-making, millinery and dry cleaning and laundry pick-up stations where the processing is to be done elsewhere. D. Repair services, such as radio, television and appliance shops, plumbing shops, carpenter shops, upholstery shops, and shoe repair shops. E. Vehicle sales and services, such as service stations, repair garages, new and used car dealers, and automotive supplies, subject to the requirements of Sec- tion 14.4b of the zoning ordinance. F. Hotels, motels and tourist homes subject to the requirements of Section 14.30 of the zoning ordinance. G. Philantropic or religious institutions, hospitals, nursing homes, or sanitaria for general medical care, subject to the requirements of Section 14.30 of the zon- ing ordinance. H. Motor vehicle, mobile home, trailer, camping, boat, construction or farm equipment sales and services. I. Newspaper and printing establishments. J. Mortuary and funeral homes and monument sales. K. Public and semi-public buildings and uses. L. Bed and Breakfast Inns. M. Essential municipal and public utility services and installations. VILLAGE CENTER DISTRICT: This district is designed to maintain existing residen- tial environments as an asset to the total community; stabilize and improve the existing values inherent in the already built environment and encourage the upkeep of existing 12 development and the development of new properties; foster conversion of Larger dwell- ings, where applicable, for use into smaller household units; allow flexibility in planning and induce creative and economic methods of residential development; and promote the use of properties for trade and service activities which are compatible with residential uses. Within the Village Center District, the following uses shall be permitted as a mat- ter of right: A. Single family detached dwellings. B. Single family semi-detached dwellings. C. Two-family dwellings. D. Retail sales of goods, prepared foods and/or services, but excluding establish- ments designed to provide drive-in facilities. E. Eating and drinking places, but excluding establishments designed to provide drive-in facilities. F. Personal services, but excluding establishments designed to provide drive-in fa- cilities. G. Professional and administrative offices. H. Financial institutions, including drive-in facilities. I. Public and semi-public buildings and uses. J. Essential municipal and public utility services and installations. 13 OWNERSHIP HISTORY The subject property is owned by Leon C. Morrison. The property last transferred on April 27, 1.999 for a reported consideration of $1.00 and ownership transferred on Deed Book 205, Page 896. ESTIMATED MARI{ETING TIME It is estimated that if the subject property were offered for sale at the indicated Market Value, a reasonable marketing time would be six to twelve months. This estimate is based upon quarterly sales figures published by Central Penn Multi List, Inc. ECONOMIC TRENDS Historically, property values for similar .properties have steadily increased, with vacancy rates remaining stable. However, the recent lag in the economy has resulted in a leveling of appreciation rates and longer marketing times. Financing is readily available to qualified purchasers at reasonable rates and terms. 14 SITE DESCRIPTION The subject site is irregular in shape, consists of a total area of approximately 5.06 acres, and has approximately 226.3 3 linear feet of macadam road frontage along the Har- risburg Pike. The site is relatively level throughout and there does not appear to be any drain- age problems. According to the Federal Emergency Management Agency map number 420363-OO15-B, the site is not located in an area which is prone to flooding. In the absence of core boring, it has been assumed that there are no mineral deposits of a commercial nature underlying the subject site. For the same reason, it is assumed that there are no unusual sub-soil conditions that would adversely affect the sub- ject site. Access to the site is via the Harrisburg Pike, and visibility of the site from this roadway is considered to be good. Utilities available at the site include water, sewer, electricity and telephone ser- vice. There appears to be sufficient capacity in each of these utilities to permit optimum utilization of the site. 15 IMPROVEMENTS The subject property is improved with a large metal building with an attached of- five, asingle-family dwelling and two mobile homes. The large one-story detached metal building, which is constructed upon a concrete slab, contains a total of approximately 4,008 square feet of gross building area, which consists of the 3,456 square foot shop building and the attached 552 square foot office section. The exterior walls of this building are of painted corrugated steel panels. Roof- ing is of the gable type, covered with painted corrugated steel panels. The exterior pas- sage doors are of steel, with glass in the upper portion and there are three aluminum overhead garage doors that provide access to the shop areas. Windows are of the vinyl- clad thermopane type. The interior of this building is divided into a large shop area, of- face shop room, parts room, restroom including a shower stall, and atwo-room office suite. The main building is heated by an oil-fired forced hot air heating system and the office area is heated and cooled by awall-mounted heating and air conditioning unit. Electricity is distributed by a 200-ampere circuit breaker electrical system. Water is heated by an electric water heater and plumbing is of iron and copper. The building is also equipped with a security alarm system. Interior flooring is of concrete in the large building and carpet in the office area. Interior walls and ceilings are of metal in the shop area. The office has interior walls of wood paneling and vinyl-clad drywall, land the ceil- ings are of suspended acoustical the blocks. Interior doors and trim are of painted wood. This building is considered to be in fair to average condition. 16 The single-family dwelling is a detached building containing approximately 1,328 square feet of gross living area, constructed over a partial basement with concrete floor. The exterior walls of this dwelling are covered with aluminum siding. Roofing is of the gable type, covered with asphalt shingles. Gutters and downspouts are of painted alumi- num. The interior of this dwelling is divided into a living room, kitchen, dining room and full bathroom on the first floor, and two bedrooms on the second floor. The dwelling is heated by an oil-fired forced hot air heating system. Interior walls are of painted drywall and the interior ceilings are of painted drywall and suspended acoustical the blocks. Inte- rior doors and trim are of painted wood. Interior floor coverings are of carpet, with the exception of the kitchen and bathroom, which have floor coverings of vinyl. Attached to the front of the dwelling is an enclosed porch. This dwelling is considered to be in poor condition. One of the mobile homes is an 880 square foot 1978 model with aluminum exte- rior walls. This mobile home consists of a living room, kitchen, two bedraoms and a full bathroom. The other mobile home is a 784 square foot 1984 model with vinyl siding ex- terior walls. This mobile home consists of a living room, kitchen, two bedrooms and a full bathroom. Both of these mobile homes are considered to be in fair condition. 17 TAXES AND ASSESSMENT The real estate tax assessment, synonymous with assessed value, is the official valuation level of property for advalorem tax purposes. Since the assessment is a dollar amount assigned to taxable property by the assessor for the purposes of taxation, it may not reflect the independent value conclusions found within this report. The following is the assessment and tax liability for the subject property as determined by the County As- sessor's Office: Assessment: Land $ 80,300 Improvements 240,290 Total $320,590 Mill Rates: Township .000870 County .002465 School .009721 Total .013056 Tax Liability: Township $ 278.91 County 790.25 School 3.116.46 Total $4,485.b2 18 HIGHEST AND BEST USE Highest and Best Use is defined by the Appraisal Terminology and Handbook, published by the Appraisal Institute, as "the most profitable likely use to which a prop- erty can be put". The opinion of such use may be based on the highest and most profit- able continuous use to which the properfiy is adapted and needed, or likely to be in de- mand, in the reasonable near future. However, elements affecting value that depend upon events or a combination of occurrences which, while within the realm of possibility, are not fairly shown to be rea- sonably probable, should be excluded from consideration. Also, if the intended use is dependent on an uncertain act of another person, the intention cannot be considered. The following tests must be passed in determining the highest and best use of the subject property. a. The use must be physically possible. The size, shape, and topography of the site affect possible uses for which it can be developed. b. The use must be Iegal, i.e., permitted under zoning and other municipal, county, state, or federal regulations. c. The use must be financially feasible, probable, and not speculative. There must be an economic, social, or market demand for the existing or proposed use. All uses that are expected to produce a positive return are regarded as fi- nancially feasible. d. Finally, the highest and best use must be that which produced the highest pos- sible net return for the longest period of time. 19 The highest and best use of the site as vacant may be different from the highest and best use as currently improved. This is most likely to occur with older properties, where physical condition, market changes, and neighborhood changes have been signifi- cant since the period when originally constructed. HIGHEST AND BEST USE AS VACANT: The highest and best use of the property as vacant assumes the site has no existing improvements. This concept is important to the appraisal report as it is carried through to the valuation of the land in the cost approach, if applicable. It assists in the selection of comparable sales of vacant sites to apply to the subject site. Considering the physical characteristics of the site, neighborhood uses, current zoning, location, and financial pa- rameters, it is my opinion that the highest and best use of the subject property, as vacant, would be for construction of a vehicle sales and service center on the Commercial High- way zoned portion of the site and offices on the Village Center zoned portion of the site. HIGHEST AND BEST USE AS IMPROVED: The analysis of highest and best use of a property as improved addresses what use should be made of the current improvements. Possible choices include renovation, ex- pansion, demolition, or maintaining its current use with no changes. Considering the physical characteristics of the property, neighborhood uses, current zoning, location, and financial parameters, it is my opinion that the highest and best use of the subject property, as improved, is for continued use as a mixed use property. 20 THE APPRAISAL PROCESS Three approaches to value are generally included in an appraisal report. These techniques include the cost approach, sales comparison approach, and income approach to value. The cost approach to value is based on the assumption that the reproduction cost of a building plus land value, tends to set the upper limit to value. A key assumption is that a newly constructed building would have .advantages over the existing building, therefore an evaluation focuses upon disadvantages or deficiencies (depreciation) of the existing building compared to a new facility. The sales comparison approach to value assumes that under normal conditions, a given number of parties acting intelligently and voluntarily, tend to set a pattern from which value can be estimated. Application of this approach relies on a comparison of the subject with a sufficient number of recent transactions of comparable properties in the market, based on a common unit, such as price per square foot of building area. The income approach concerns itself with present worth of the future potential benefits of a property. The initial estimate involves the net income, which a fully in- formed person is justified in assuming the property will produce during its remaining use- ful life. This estimated net income is then capitalized into a value estimate, based upon the level of risk as compared with that of a similar type and class. Information for the application of the three approaches to value is obtained from the market through research verification and analysis. It should be noted that, although the approaches are interrelated, separate indications of value are usually derived from 21 each approach. The reconciliation of these three approaches to value involves an attempt to explain the apparent differences and to determine which approach, or combination of approaches, should be given the greatest consideration. These approaches to value are considered, and those being appropriate are fully analyzed and presented in the following sections of this appraisal report. 22 THE COST APPROACH The cost approach to value is based on the principle of substitution, which pro- poses that an informed buyer will pay no more than the cost of providing a substitute property with similar utility. In estimating the value of the subject property by the cost approach, the following steps must be completed: a. Estimate the value of the site to its highest and best use as though vacant, which we have done. b. Estimate the reproduction or replacement cost of the improvements on the ef- fective date of the appraisal. This includes direct and indirect costs. c. Estimate other costs incurred after construction to bring the new, vacant build- ing up to market conditions and occupancy levels. d. Estimate entrepreneurial profit, when appropriate, from an analysis of the market. e. Add estimated replacement or reproduction cost, indirect costs, and entrepre- neurial profit, often expressed as a percentage of total direct and indirect costs to arrive at the total replacement or reproduction cost of the primary structure. f. Estimate the amount of accrued depreciation in the structure, which is divided into three major categories; physical deterioration, functional obsolescence, and external obsolescence. 23 g. Deduct the estimated depreciation fr®m the total reproduction or replacement cost of the structure to derive an estimate of the structure's depreciated repro- duction or replacement cost. h. Estimate reproduction or replacement costs and depreciation for any acces- sory buildings and site improvements, and then deduct estimated depreciation from the reproduction or replacement costs of these improvements. Site im- provements and minor building improvements are often appraised at their net value, i.e., directly on a depreciated cost basis. i. Add the depreciated reproduction of replacement costs of the structure, the accessory buildings, and the site improvements to obtain the estimated total depreciated reproduction or replacement cost of all improvements. j. Add the land value to the total depreciated reproduction or replacement cost of all improvements to arrive at the indicated value of the fee simple interest in the property. k. Adjust the indicated fee simple value to reflect the property interest being ap- praised, if necessary, to produce an indicated value for the interest in the sub- j ect property. Comparison is the essence of the cost approach to value, similar to the sales com- parison and income approaches. Construction costs, plus land values, are compared to the values of existing improved properties. The four principles used for the sale compari- son approach (substitution, supply and demand, balance, and externalities), are also ap- plicable to the cost approach. 24 So the cost approach to value can be derived and equitably compared with the other approaches to value, adjustments for accrued depreciation from all causes are de- ducted from the reproduction cost, including: a. Physical Deterioration: Physical wearing out of property. b. Functional Obsolescence: Lack of desirability in terms of layout, style and design as compared to that of a new property, serving the same func- tion. c. External Obsolescence: Loss of value from causes outside the property it- self. The cost approach to value is most applicable for new properties, where the com- ponents of physical deterioration and functional and external obsolescence are small. The Marshal Valuation Service is used in this approach with actual costs for the subject property. The Marshall Valuation Service is a complete, dependable appraisal guide for de- veloping replacement costs, depreciated values, and insurable values of buildings and other improvements. Modifiers are applied to make the cost applicable to any size build- ing in any locality. Known costs for locally constructed properties are also analyzed and compared with derived cost estimates. The land value is based on comparable land sales using the same techniques as applied in the sales comparison approach. Due to the age of the subject improvements, the cost approach to value is consid- eyed to be inappropriate and has, therefore, not been included in the development of this appraisal report. 25 THE SALES COMPARISON APPROACH The sales comparison approach is a process of comparing market data, that is, the prices paid for similar properties, prices asked by owners, offers made by prospective purchasers willing to buy, and rents and leases. in applying the sales comparison approach, various appraisal principles are ap- plied, ensuring that all relevant issues have been included in the analysis. The principles of primary importance are supply and demand, balance, substitution, and externalities. Additionally, a fundamental premise of the sales comparison approach is the concept, that from analysis of sales of reasonably similar properties, an appraiser has a factual basis upon which to estimate the value of the subject. Proper application of the sales compari- son approach requires that: a. Only market transactions be weighed, and the date of each transaction be con- firmed to the greatest extent possible. b. The degree of comparability of each sale to the subject be considered. c. The value conclusion be consistent with the analysis of the sales data. A definition of market value is: "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: a. Buyer and seller are typically motivated. 26 b. Both parties are well informed or well advised, and each 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 financial ar- rangements comparable thereto. e. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone asso- ciated with the sale. The degree of comparability that exists between a sale and the subject is often a function of the volume of sales activity in a market. For any class of real estate, if sales are infrequent, the market area must be expanded in scope of time and or geography to whatever extent is necessary to accumulate sufficient data on which to base a judgment. To judge the degree of comparability between a sale and the subject, several guidelines can be applied. a. The sale should be in the same market as the subject. To the extent that a market is a meeting place for buyers and sellers of real estate of a given type, the boundaries of the market are set by the participants in merchandising and absorbing competitive properties. The boundaries of a market area are conse- quently economic in character, and not purely physical or geographic. b. Physical characteristics of the sale and subject should be as similar as possible in terms of size and amenities customarily found within the applicable class of real estate. c. Real estate price trends over time must be taken into consideration. 27 d. ~ The functional adequacy of the sale property and the subject should be com- petitive in terms of the ability of each to support similar functions. In arriving at this conclusion of the value of the subject property, your appraiser made a survey of properties that have been sold recently or are now offered for sale within the general area. Sales, terms of sale, price, and exterior, as well as interior appointments, were verified by a personal examination andlor interview with the sales brokers. As it was impossible to find an identical property to that of the subject, since no two properties are ever identical, it was necessary to make adjustments on each compara- ble sale and offering for sale as related to the subject property. Consideration was given and adjustments were made on each comparable sale, of- fering for sale as to time of sale, size, location, age, and utility, as well as all other factors that might affect value. A resume of some of the sales and offerings for sale considered by your appraiser are listed on the following pages: 28 SALE NO. 1: Location: 1130 Harrisburg Pike Carlisle, Pennsylvania Tax Parcel Number: 21-18-1363-055 Date of Sale: August 27, 2007. Deed Reference: 200733352 Type: One-story detached steel siding commercial building. Building Size: 2,304 square feet, including 768 square feet of of- fice space. Lot Size: .92 acre. Parking: On-site asphalt parking lot. Grantor: Robert and Mary Taylor. Grantee: Jeffrey and Daryl Heiges. Sale Price: $250,000 Unit Price: $108.51 per square foot. Data Source: Exterior inspection of the property, and Cumberland County Courthouse records. 29 SALE N0.2: Location: 8 Kuhn Drive Carlisle, Pennsylvania Tax Parcel Number: 08-09-0527-033 Date of Sale: May 27, 2008. Deed Reference: 200817439 Type: One-story detached steel siding commercial building. Building Size: 10,000 square feet, including 2,700 square feet of office space. Lot Size: 1.62 acres. Parking: On-site asphalt parking lot. Grantor: Enola Construction Company. Grantee: Lynn E. and Debbie S. Palmer. Sale Price: $375,000 Unit Price: $37.50 per square foot. Data Source: Exterior inspection of the property, and Cumberland County Courthouse records. 30 SALE N0.3 Location: 700 Forge Road Carlisle, Pennsylvania Tax Parcel Number: 40-09-0533-006A Date of Sale: Apri120, 2006. Deed Reference: Deed Book 274, Page 534. Type: One-story detached concrete block commercial garage building. Building Size: 5,392 square feet, including 352 square feet of of- fice space. Lot Size: .73 acre. Parking: On-site parking lot. Grantor: Levi W. and Carole K. Tanger. Crrantee: Robert L. and Marilyn T. McCanna. Sale Price: $195,000 Unit Price: $36.16 per square foot. Data Source: Exterior inspection of the property, and Cumberland County Courthouse records. 31 Your appraiser, in addition to the sales listed, also considered several additional sales in ..arriving at his final opinion of value. After making all of the necessary adjust- ments, as explained in the opening paragraphs under this approach to value, it is your ap- praiser's considered opinion that the Market value of the subject property by the Sales Comparison Approach is best estimated at $347,000. 32 SALES ADJUSTMENTS The appraiser has analyzed comparable sales and has developed dollar adjust- menu, reflecting maxket reaction to those items of significant variation between the sub- ject and comparable properties. If a significant item in the comparable property is supe- rior to, or more favorable than the subject property, a minus (-) adjustment is made, thus reducing the indicated value of the subject; if a significant item in the comparable is infe- rior to, or less favorable than the subject property, a plus (+) adjustment is made, thus in- creasing the indicated value of the subject. Sale Price Time Location Construction Quality Building Size Building Condition Dwelling and Mobile Homes Land Size Net Adjustment Indicated Value: SALE # 1 SALE #2 SALE #3 250,000 375,000 19s,000 +12,soo +19,soo +37,500 +19,500 +19,500 +34,080 -119,$40 -27,680 -50,000 -75,000 +60,000 +60,000 +60,000 +40,000 +30,000 +40,000 +96,580 -67,340 +130,820 346,580 307,660 325,820 33 EXPLANATION OF ADJUSTMENTS COMPARABLE SALE N0. l : A 5 percent positive adjustment was made for the lapse in time between the sale date of the comparable sale and the effective date of this ap- praisal. A $20 per square foot positive adjustment was made for the larger size of the subject building. A 20 percent negative adjustment was made for the subject's inferior condition. A $60,000 positive adjustment was made for the subject's single-family dwelling and two mobile homes. A $40,000 positive adjustment was made for the sub- ject's larger land size. COMPARABLE SALE NO. 2: A 10 percent positive adjustment was made for the subject's superior location. A $20 per square foot negative adjustment was made for the smaller size of the subject building. A 20 percent negative adjustment was made for the subject's inferior condition. A $60,000 positive adjustment was made for the subject's single-family dwelling and two mobile homes. A $30,000 positive adjustment was made for the subject's larger land size. COMPARABLE SALE NO. 3: A 10 percent positive adjustment was made for the lapse in time between the sale date of the comparable sale and the effective date of this appraisal. A 10 percent positive adjustment was made for the subject's superior location. A 10 percent positive adjustment was made for the subject's superior quality of construc- tion. A $20 per square foot negative adjustment was made for the smaller size of the sub- ject building. A $60,000 positive adjustment was made for the subject's single-family dwelling and two mobile homes. A $40,000 positive adjustment was made for the sub- ject's larger land size. 34 THE INCOME APPROACH The income approach is a method of converting income streams into present worth. Income and expense data for the subject property has been collected from the property owner's daughter and the owner's federal income tax return, and adjusted to in- clude a vacancy factor, replacement reserve and a property management fee. Analysis of this data resulted in an annual net operating income of $23,462. Using this approach, the net operating income should be sufficient to cover total mortgage payments and offer a return on equity investment. The net operating income is capitalized to obtain an estimate of value by income approach. Using the band of investment technique to develop a capitalization rate, the ap- praiser contacted lending institutions to determine the availability and terms of invest- meat capital, and the equity return desired by investors in this type investment. It was found that eighty percent of the property value could be borrowed at six and one-half per- cent interest per annum for a term of twenty-five years, adjusted at the end of five years. Also, investors desire an equity yield of seven percent. The mortgage constant under the above terms would be .081025. Applying the band of investment technique, the overall capitalization rate is developed in the following manner: .80 x .081025 = .064820 .20 x .070000 = .014000 .078820 Based upon the above, capitalizing the net operating income at the overall capi- talization rate of .078820 indicates a value of $23,462 _ .078820 = $297,665.57. There- 35 fore, the Market Value of the subject property by the income approach is best estimated at $298,000. 36 INCOME AND EXPENSE SUMMARY SCHEDULED INCOME: Metal building with office @ $1,000 mo. $12,000 Dwelling @ $950 mo. 11,400 2 mobile homes @ $500 mo. each 12,000 Mobile home space @ $300 mo. 3,600 Less vacancy and credit loss 1,950 Gross Income OPERATING EXPENSES: Utilities 1,310 Property taxes 4,486 Property insurance 1,806 Repairs and maintenance 2,280 Property management @ 7°l0 2,594 Replacement reserve @ 3°l0 1,112 Total Operating Expenses NET OPERATING INCOME: $37,050 13,588 $23,462 37 RECONCILIATION AND FINAL VALUE ESTIMATE Reconciliation is the analysis of alternative conclusions to arrive at a final value estimate. Reconciliation is required because different value indications result from the use of multiple approaches to value and within the application of a single approach. The final value estimate is not derived simply by applying technical and quantita- tive procedures; rather, it involves the exercise of judgment. The value conclusion reached must be consistent with market thinking. The parts of this appraisal report are the following approaches to value your ap- praiser used: Value indicated by Cost Approach N.A. Value Indicated by Sales Comparison Approach $347,000 Value Indicated by Income Approach $298,000 These approaches are representative of the market value of the property. I have carefully examined each step in each method, and I believe the conclusions accurately reflect the attitude of typical purchasers of this type property in this neighborhood. It is my belief that this reexamination has confirmed the original conclusions. As a result of this appraisal and analysis, it is this appraiser's considered judgment and opinion that the Market Value of the subject property, as of December 4, 2008 is: THREE HUNDRED FORTY-SEVEN THOUSAND DOLLARS $347,000 38 UNDERLYING ASSUMPTIONS AND LIMITING CONDITIONS SUBJECT TO THIS APPRAISAL 1. I assume no responsibility for matters legal in nature, nor do I render any opinion as to the title, which is assumed to be marketable. The property is appraised as though under responsible ownership. 2. The legal description used herein is correct. 3. I have made no survey of the subject property, and the boundaries are taken from records believed to be reliable. 4. I assume that there are no hidden or unapparent conditions of the property, subsoil or structures which would render it more or less valuable. I assume no responsi- bility for such conditions or for engineering which might be required to discover such factors. 5. The information, estimates, and opinions furnished to me and contained in this re- port were obtained from sources considered to be reliable and believed to be true and correct. However, no responsibility for accuracy can be assumed by me. 6. This appraisal report is to be used in its entirety and only for the purpose for which it was rendered. 7. Neither all nor any part of the contents of this appraisal report, (especially any conclusions as to value, the identity of the appraiser or the firm with which he is connected} shall be reproduced, published, or disseminated to the public through advertising media, public relations media, sales media, or any other public means 39 of communication, without the prior written consent and approval of the ap- praiser. 8. Unless otherwise stated in this report, the existence of hazardous material, includ- ing without limitation asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which may or may not be present on the property, was not observed by the appraiser. The appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea- formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engi- neering knowledge required to discover them. The client is urged to retain an ex- pert in this field, if desired. 9. I do not have knowledge or experience required to evaluate whether physical changes have to be made to existing facilities to conform to the Americans With Disabilities Act regulations or whether alterations or new construction meets the requirements. Therefore, the value reported is based upon the assumption that the subject property conforms to the ADA regulations. The client is urged to retain an expert in this field, if desired. 10. Acceptance of and/or use of this appraisal report constitutes acceptance of the foregoing assumptions and limiting conditions. 40 11. Adherence to the confidentiality requirement of the Uniform Standards of Profes- sional Appraisal Practice requires that, prior to making any copies of the appraisal report or having discussions related to this appraisal assignment with anyone other than the client, approval from the client be obtained in writing. Upon re- ceipt of said written authorization, copies of the appraisal report shall be produced or discussions with a third party may be held. Fees for these additional services shall be mutually agreed upon and are payable in advance. 12. This appraisal was prepared for the exclusive us of the client identified in this ap- praisal report. The information and opinions contained in this appraisal set forth the appraiser's best judgment in light of the information available at the time of the preparation of this report. Any use of this appraisal by any other person or en- tity, or any reliance or decisions based on this appraisal are the sole responsibility and at the sole risk of the third party. The appraiser accepts no responsibility for _damages suffered by any third party as a result of reliance on or decisions made or actions taken based on this report. 41 CERTIFICATE 4F APPRAISAL Your appraiser hereby certifies that: 1. I have no present or contemplated future interest in the subject property. 2. I have no personal interest or bias with respect to the subject matter of this ap- praisal report or the parties involved. My findings are not based on the employ- ment to make the restricted appraisal, a requested minimum valuation, a specific valuation, or the approval of a loan. 3. To the best of my knowledge and belief, the statements of fact contained in this appraisal report, upon which the analyses, opinions, and conclusions expressed herein are based, are true and correct. 4. This appraisal report sets forth all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions, and conclusions contained in this report. 5. This appraisal report has been made in conformity with the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation, and is subject to the requirements of the Code of Profes- sional Ethics and Standards of Professional Conduct of the Appraisal Section of the National Association of Realtors. 6. No one other than the undersigned prepared the analyses, conclusions, and opin- ions concerning real estate that are set forth in this appraisal report. L E. Foote Certified General Appraiser GA-000014-L 42 PRIVACY NOTICE Pursuant to the Gramm-Leach-Billet' Act of 1999, effective July 1, 2001, apprais- ers, along with all providers of personal financial services are now required by federal law to inform their clients of the policies of the firm with regard to the privacy of client nonpublic personal information. As professionals, we understand that your privacy is very important to you and are pleased to provide you with this information. In the course of performing appraisals, we may collect what is known as "nonpub- lic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessary disclosure would be to our independent contractors, and in certain situations, to unrelated third party consultants who need to know that information to assist us in providing appraisal services to you. All of our inde- pendent contractors and any third party consultants we engage are informed that any in- formation they see as part of an appraisal. assignment is to be maintained in strict confi- dence within the firm. A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal action to which you are a party. We will retain records relating to professional services that we have provided to you for a reasonable time so that we are better able to assist you with your needs. In or- 43 der to protect your nonpublic personal information from unauthorized access by third par- ties, we maintain physical, electronic and procedural safeguards that comply with our professional standards to insure the security and integrity of your information. 44 LARRI' E. FOOTS REAL ESTATE APPRAISER EXPERIENCE: 1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa.. Principal Broker, LaRue Development Company, Carlisle, Pa. 1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa. 1972-1976: Realtor Associate, .tack Gaughen Realtor, Carlisle, Pa. Appraisal experience included undeveloped land, farms, building lots, single-family dwellings, mobile home parks, medical centers, nursing homes, motels, apartment buildings and complexes, office buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, day- care centers, warehouses, and manufacturing facilities. EDUCATION: Bachelor of Business Administration, Pennsylvania State University, 1976. Associate Bachelor of $usiness Administration, Harrisburg Area Community College, 1974. Diploma, Carlisle Senior High School, 1965. Certificate, Pennsylvania Realtors institute, GRI 1, GRI II, GRI II1. Certificate, Realtors National Marketing institute, CI 101, CI 102, CI i03, CI 104, CI 105. Standards of Professional Practice, American Institute of Real Estate Appraisers. Real Estate Appraisal Principles, American Institute of Real Estate Appraisers. Residential Valuation, American Institute of Real Estate Appraisers. Appraisal Procedures, Appraisal Institute. Principles of Income Property Appraising, Appraisal Institute. Case Studies in Real Estate Valuation, Appraisal Institute. Report Writing and Valuation Analysis, Appraisal institute. PROFESSIONAL LICENSES: General Appraiser #GA-000014-L, Commonwealth of Pennsylvania. Real Estate Broker #RB-029729-A, Commonwealth of Pennsylvania. PROFESSIONAL DESIGNATIONS: GRI: Graduate of the Pennsylvania Realtors Institute, awarded by the Pennsyl- vania Association of Realtors. CRS: Certified Residential Specialist, awarded by the Realtors National Market- ing Institute of the National Association of Realtors. CCIM: Certified Commercial Investment Member, awarded by the Realtors National Marketing institute of the National Association of Realtors. PROFESSIONAL ORGANLZATION AFFILIATIONS: National Association of Realtors Appraisal Section. Greater Harrisburg Association of Realtors. Pennsylvania Association of Realtors. National Association of Realtors. Realtors National Marketing institute. 45 PAST CLIENTS: Borough of Carlisle Keystone Financial Mortgage Cornerstone Federal Credit Union Pennsylvania State Bank Commerce Bank Cumberland-Perry Association. for Retarded Citizens Carlisle Suburban Authority Members 1 S` Federal Credit Union Pennsylvania National Bank Evans Financial Corporation Greenawalt & Company, CPA Smith's Transfer Corporation Carlisle Department of Parks and Recreation Executive Relocation Services Carlisle Area School District Messiah Homes, Incorporated ERA Eastern Regional Services Pennsylvania Turnpike Commission Chase Home Mortgage Corporation Defense Activities Federal Credit Union Pennsylvania State Employees Credit Union PNC Mortgage Corporation F&M Trust Company National City Mortgage Corporation Washington Mutual Home Loans, Inc. Prudential Relocation Services Lender's Choice Market [ntelligence, Incorporated United Telephone Employees Federal Credit Union Cumberland County Commissioners Allstate Enterprises Mortgage Corporation Dickinson College PPG Industries, Incorporated Gettysburg College Redevelopment Authority of Cumberland County Record Data Appraisal Services, Incorporated First United Federal Savings Association Fulton Bank United States Marshall Service GMAC Mortgage Corporation Orrstown Bank Letterkenny Federal Credit Union BancPlus Mortgage Corporation Coldwell Banker Relocation Services, incorporated Central Pennsylvania Savings Bank Mellon Bank Provident Home Mortgage Corporation Various law firms and individuals 46 ..` ~ PHOTOGRAPHS OF THE SUBJECT IMPROVEMENTS 47 .. ... ,K:_ -' ' J"~ i // H5 OF THE 5t1BJECT IMPROVEMENTS PHOTOG~' 48 49 STREET SCENES AT THE SUBJECT PROPERTY LE SALE NUM]3ER 1 GRApH Op C4MpA~ pH4T~J SD SAFE .N~MB,F,R 2 F C4,Mp'A~,,BI,E pHoTaG~~ ~ ~1 E SALE ~~M$~R 3 PH-Q,T~G`RA~ 52 .. ... ~ _ ~w.; . ~~~,~ ~ ~ kHrcxidt~ `~ `"~ ;.~ 1lAid~ ., ,• .. ~~~ ... ~ ~ f# .~ ~. =11 ' . ~~ t ' ~ . fern a~ - '~ ..rB ~~~~ '+"'`'' d'1 ` ;I F Subject ,~r~s ,,.~, '~ er 1 ~ r ~~' ~ ~, ` Iy ~iCl 1'~` ~ ~~fi'~ ~ •,w ,~,~,.r;W Dryt~wr~ . q 1 ~ 9... ~,F',~ t . ~ j ~ ~ yF, _ .. a``°. {'~. iii"' Q~~ ` . `, .. ~ ~ ~~ ! to ~~ ... ~~S•J~~}i . tMsr '' ., h . ~'~` '~ Ca1J +Gar~ite ~~ ~ ~' ..:M eiirr~eks $J ZQ09 M3p41iest IAC. ..- } t ... ~''jy ~ c~ ~.~" l41ap Data $J Y~Q9 NAV'[ EQ Of Tetes~~ 53 B-H A~ncy Arpraisal Services File No. 0100909 ,,~`~ ^ ~~ {~ V~~ iv1~r~~: ~~~ ~. v~Y t7r _' `~. __, ~ TI If; YCAR T~dC) •r.~~c~usAlvl~ ~:IC~rI•r hoax) ~`-~._._..._,_~..~. . 1~~'rwkl~::r: rLa~u ~. Bkovvlvi~~~~:L~~:~~ri ~L~ L. B~awri~wrr~Y., xis WYFF, of CARI.,iSI:E, PT~:NNSrkLVAN1A .. , f~.~ttAl~l'i'aR4 LEON (::. ~I,ak2iiL5.ON,~MA1t1t1LD i1'IAN, of ~.'AKC~XSLE, YI~ :NNSYLVAI~IiA ::: • . ~ .. . • ~ c~kah°r~~ WITNESSL"TII, that in considers tiou of tpe s~t.~o~ ofT~l`R.I!.L f3UNDRI;D TI-ARTY N~NC T1•iUClSAND (~33S~,OU(1.UU) llC)I,I,AItS, in ltund p~itl, the receipt uheratf is hrxeby tickaxuwtcdgcd, the said grantor3 do her~tay grant and convey to the said gran#~e, Itis heirs and azx4igns: AI..T. l'Id~1'i' G{~,RTAIN piecz ctr parcel of land r{tth laui?dings and impruvc;rnc.a-tstheeeon ett,~cted, if arty, situate ua wettx Itujt 1leighis, North iVlicidletvn'I'o~vttship, Gurt-txrlarad Cu~unty, Cvtnmunwealth of I~etvteyl~ania hounded arxi descri6exl in acusrdauca w%;h. Final Subdi~•isiaa i'!an fo..Psaasc No. ~ i'or 'Vvettz Ettau I"leigltts, recorclecl on t~pri! 1 fi, 2l70?, in Cutuberland C=ounty I'!au 13cwlc $5 Pale 37, us i'ollo~~~s. io wit: BIG1?v'I~:INt.; at a point on the western right of catty Iinc of R.idgc ,•~vcnue {a SCa.(X)' right o1 ~~~y) sa:cl point tx:ir>g iocutCd on (tsG full+~wing four (~) courses from the tcrntiatu., of a cut~L acnu:ecting saiil wuthr~n light of way (ittr` c-f Ridge Avenue with the westrarn right of way lia.~ a4' iutetae lJri~-~ (:a ~O.LU' nigh: ref way)1,1 ~Noxtli S2 decrees IFS nuttutc;~ UU ~ewnd3 West a disttit:4c~ of ! 3U.t)0 feet 2.) by tt curve to ttai rio!tt; harint~ a rtuiius of 225.t)a, an fsn disc:inc:a of 419.25 fe=et .;~ by a curvL t~~ the left huvntCr 4 xt~tiitn~s of ] 75.D0 feet, n.+t arc distance of 51.21 feet 4,} North ~7 di:gre4.s t 5 n.iaautev Q!7 :>~GOnds :Cast, a distanct~ u' i 0 S .89 feet; thcace front said l:oi.nt of i.~4gitt.~ircg, by 'I..ot Na. 4G Nurtla SZ drr~cs 45 m.irxuws 4tr seconds V~'est, a dis.~:aic_c of 3 $y..~5 f~er. to i; p~~int; thcnc: by Ianci nnw ar Iatr of I:.wan I•i. Hnd Ita~y R. wott?votZh 35 rlcgres:.s 4: ><rti.nutes :1'1 seconds 1;3st, a distance of I 15.04 fezt to a point; thence by I..ot ?pro. 4$ South 5? degrees 4: aytinntes UU ~c;onds Fast, a dist2nex of 152.94 feet ~ a Ixaint Un the western right of tivay line cat I2idgc Avenue; t~rterse~ by said rigtu oFway, South 3'~ degrees 1 S rninutcs as seccinds )'U~3icp+,a7 •t:{r~:.~'' PAk C:U1.1iak:fitA1~J L`AI1NiY bnl # 1.Ct)fla739<! • i%t+~d'.:af 1. farm produced by United Systems Sutlware Company (800) 969-8127 www.unitedsystems.com B-H Agency Appraisal Services File No 0100909 West, a tiiyta:tce t:f l 15!.iU eet to a ~iut, the dace ref i;rtilNtilWG. S:1fI) TFtr~C'T C'C~N fra-TNS iR,SI>t).2.1 squstre: ir;~t ~r Q:1~6] a::re~. 13}sII`iG I,at ~!4? of the ~l~inn.1 Subrivisic~n !'lan of `''l%ertz Rtur HEights, Carlisle, Cwnherlcrnd Carroty, Ye:rnsylvania. ~'' CN1Jx;K Ai~U SUl3,F1G"1' tt~ Ucilaratiliti~c~if $ttil4itig'Arit'~C~se:Ke,trictiors fot• ti.e Final Sttb:livsion Plan trf Wzr<z Run R4~igt-is, dated Decetn~er 16, l~93 and recozdeci in lvlis~lltreous Bo~7k ~i63,1'uge 1178. ' iT Zi.E:.1NCa 'I`ts'!: same ~rert7ises which 1{o11~ts:Atid•(~estapoulas, a 1~A Gera.ral l'artttersttip snd Snider-Millar Bltilders. try their teed dated fartiitu~y:2,1.;2n04 and recorded Jaat>fry 16, 2004 ir: tl1C t)!~'7CL' of tttd Rectrrdcr of F7eeds in end for~Cttmta~r}~hd County, Yerursylvaala, it•t I7ec;c11.3cruk '2E~1 nt T'itgr 'wOl-2. graitttd and wnveyed unfr~l~oyB:E ~rotivncwell artd .fill L. ~3rnH~newull, the Grantors hetc:in. .~.1tiD tie siiil Grt-rrtar5 cln kesc~t?y }Y~„RRfi?1rT~.S'P;~~l~ Qre property htreby conveyed. I1V iLY17:~V1;:SS' -f~~fGli.L'DF, stud Grantars haivirhereui%to'set their Ixands and seals ttre djy and .,. vrar .fret alcove written. ~~.~ . ,_,,,,~ J~C.{. i,. Bktt)WiYLt WILL °_ .~ ,. r ~: , rr2~:20L"~ ~•v~ l=' pr.; c.u n ,f t.arar, f.C3UNTx 1 ~.. ZOut'. ~ . t;~. ~`s ?... a '7 'G.F ..B ..( Form produced by Uni~d Systems SoUware Company (OUO) 969-8727 www.uMtedsystEms.com Unit No.: ~'/~-------= Zip Code: 1701____ .r._--- e AYa-+k State: Pa---- 82 County: Cumber Address: ~~ fmm Ins't #20tS817699 City: Legat Description: See Ati Borrower: tEnderiClient: Address: ~, Prepared By: -- H tsar savkes - Campam: 163 N. Hance Stir~t mm~t'^et Address: Cam pa, 17013 Emait: bha Fax: 17 2a3a71a ~ 717 243.1000 ~ 216 Estimated MarketValue: S ~ ~~ Phone: ~ 2009 Prepared As Ot: 3 Ccr~' Pa9~ ~' Phot° au~d Contests ~~ ~~~ rttiat APP~isal ttepa't Uniform Rest ons Certifkation and Um>tin9 Conddi Text p,ddendum Subs F Building S-cetrh ~nparable F!M-otos t,ocation Map I oeedl~ °°r' is to establish iNark~ Value pn1y: Nt~r to ~ used ~ Mo~9e Ftnandng• Intended Use of'ihts ~°~ e CamPam (8~1 ggg.g?27 ,www.unitedsys~~oom Form fx~~ ~ United 5ystama Sc~~ 9 H Agency Appraisal Services _ File No. 0100909 B-H Agency Appraisal Services 163 N. Hanover Street Carlisle, Pa. 17013 (717) 243-1000 Ext. 216 Date :January 29,2009 Client :Estate of Leon C. Morrison In accordance with your request, I have inspected, as per your instructions, and appraised the subject property located at 82 Ridge Avenue, North Middleton Twp., Carlisle, Cumberland County, Pa. 17013 (Parcel #29-OS-0429-082). As per your instructions, the purpose of this appraisal was to determine "Market Value" as per date of death on 12/04/2008, in unencumbered fee simple titre of ownership, and was done in compliance with and as defined by "l1SPAP" and the Appraisal Standards Board. Effective date of this appraisal is the date of inspection of the property. Opinion of Value expressed to this report reflects value requested for Estate purposes. This report in it+s entirety is intended and valid only for the intended use of the Client named in this report, and is invalid if photocopied or electronically transmitted, whether in part or in whole try anyone other than the Client or the State Certified Real Estate Appraiser(s) named in this report. Tt is intended solely for the Client, and shall not be used by anyone other than the Client without the prior written consent of the Client, and the State Certified Real Estate Appraiser(s) conducting the appraisal process. Note :This is a Summary Appraisal Report, and wntains li pages (plus attachments or addenda as necessary), and any single page is invalid if detached or used separately from the entire report as originally submitted. This report was conducted and prepared with the utmost care and confidentiality, and was established with no pre-determined opinion of value on the part of the appraiser(s). Thank you for choosing B-H Agency Appraisal Services Farm produced by United Systems SoMrue Company (11001 96s-8121 www.unitedsystems.com B H Aoerrcy A,~praisal Services _ _ File No._ 0100909 NOT TO 13E USED FOR MORTGAGE FINANCING PURPOSES _ _ ..._ uuerneu nramn>c~rsr eoQeireres~ QCOAQT Rn. rr._ 0100909 Pa Zio Code HOA C. loan I~catlon ^ Urban ®Suburbart ^ Rural Prsdefainawt Si N lardllr bousfeo Present land use % land rise change Built up ^ Over 7596 ®25-75% Under 25% oceaP~) { ors) ~ tarry 8 ®Not likely ^ Likely Growth rate ^ Rapid ®Stable Slow ®Ownet t30k taw 0 2-4 family ^ In process Property values ^ Increasfr-q Stable Declining ^ Tenant 540k Hi h 100+ Mutti-tamity To: Demand/supply ®Shortage ~ In balance ^ Over supply ^ Yacant (0-5%) Predominant `Commercial i Marlcetin time Under 3 mos. 3-6 mos. Over 6 mos. Vacant Over 596 13Q-150 40+ ( Other ) Mote: Race and the racial canpositieo et the asbbborbood are not appraUal factors. _ Neighborhood boundaries and characteristics: is sibraEed rxxth of the Carlisle Soro. It is bounded to the north Wa ner Orive• fn the east b S.R. 34• tb the south Wertz Run Rd• to the west Cranes Ga Rd. •_ Factors that affect the marketability of the properties in the neighborhood {proximity to employment and amenltles, employment stability, appeal to market, etc.); Sub' is in the realer Carlisle Pa. Market Area. em sh scixxrls both Wic and tie are within reasonable d ' distance. UtNities as wdl as fire and ectlon are resent and uate for the area. It ism 'pion that the sub ro is in v crmdition and would have excellent marketing potential. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demandlsupply, and marketing time -- such as data on competitive properties for sa{e in the neigthorhood, description of the prevalence of sales and tirrartcir-g concessions, etc.}; I:m en m a rates and txxui irrrertlxxiee have remained stable in the aroa and al h interest rates are tluctuafi the martin is stable. P a redation has had little or no increase over the . A marked time for sirrwlar in Ws area would be u to 90 da but could be upwards to 180 days. Setter concessions in the form Of dOSing cost assistance to the are relative! common but usual don't exceed 3000 to PraJoct lofora~atfon for PI1Ds (ri applicable) - - Is tl~e developer/buitder to control of the Home Owners' Association (HOA)? U Yes LJ No _ Approximate total number of units in the subject project N/A .Approximate total number of units for sale in the subject project N/A De ibe common elem is and recreational t ilities: N A Dimensions See attad~ed I d 'on in addenda sectlon Topo~aphy ~et/SI ing Site area 18560.21 Sq. Ft. (m/L) Corner lot Yes No Size 0.43 acre (m/L) Specific zoning classilicatlon and description Residential Rl Shape War Zoning compliance ®l.egal ^ legal nonconforming (Grendiathered use) ^ Illegal ^ No zoning Drainage rs to be oats Highest ~ best use as improved Present use Other use (explain) View T ical Residential Utllitks Public Other Otif-slte irnproaeeenb Type Public Pr(vate Landscaping Above Avera Electricity ® Street Macadam ® ^ Driveway Srxlace Macadam Gas ® Curb/Gutter Concrete ~ ^ Apparent Easements None Found or observed Water ® Sidewalk On Site Only ^ ® FEMA Special flood Hazard Area ^ Yes ®No Sanitary Sewer ® Street Lights Yes ® ^ FEMA Zone C Map Date 04 O3 1982 t rm None Observed 420367 000513 Comments (apparent adverse easements, encroachments, special assessments, slide areas, ttlepal or legal nonconforming zoning use, etc.): None observed or found Burin the normal course of research of this GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Units Si le Foundation Concrete Slab A Area Sq. Ft. 1200 L Raof No. of Stories One Exterior Walls StxrneJStucco/v I Crawl Space N A % Finished 100 Ceiling Type (Del./Att.) Del. Root Surface Sh a Basement FuN Ceiling RRr Walls Design (Style) Ranch Guriers & Dwnspts. Aluminum Sump rump Yes Walls Corrcrebe Floor ^ Existing/Proposed Fxistl Window Type Dbt.H Dampness None Obsrvd Floor Concrete None ^ Age (Yrs.) 6 L StorrNScreens Erdsti Settlement None Obsrvd Outside Entry Yvalk-out Unimown Effective Aoe tYrsJ i - 2 yrs. (m1l Manufactured Fbuse No Infestation Unlvrovm Finish: Drywall/Cpt/Cer'am Sae Text Addendum Pg. Basement i i 1.00 1200 m L tEVel 1 1 Area 1 3 2.00 i _ _ _ _ 2214 Flnisbed ana above rode contains: 6 Rooms' 3 Om s ' 2.00 th 2214 5 uaro Feet of Gross Livin Area • INTERIOR Materia{s/Condition HEATING ICITt:NEN EOWP. ATTIC AMENmES caa stottAGe: _ Floors Oa Ceramic: Good Type i~iA Refrigerator 2 None ^ Fireplace(s) ~ i ® None ^ Walls all: Good Fuel Gas Range/Oven 1 Stairs ^ Patio Yes ® Garage ~ of cars Trim/Finish Wood: Good Condition Good Disposal 1 Drop Stair ® Deck Yes ® Attached 2 Bath Floor Ceramic: Good COOLING Dishwasher 1 Scuttle Porch Front Detached Bath Wainscot N/A Central Yes FaNHood 1 Floor Fence None Obsrvd Built-In 2 Doors wood: Good Other None Microwave Heated i'ool N/A Carport Condition Good WasheriDryer Finished ^ Driveway Add(tlorral features (special energy efficient items, etc.): Custom i0tcherr w more than a e cabs island recessed t htl txeakfa dini area stainless aces ceramic backs sh swanstorre sink and c•Arwectlon ra e. Oak ftoorin in Ilv. rm. drn. master bedroom. )aazzj in master bath. Condition of the improvements, depreciation (physical, tunctlonal, arid externaq, regales needed, quality of construction, remodeling(addttions, etc.: Home is in v pod corrditlon with no I functional or external obsolescence. No needed r was noted at tt-e tlme of ins ..no rs were in recs. of constructlon is e ~ the area and eriod. Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc J present in the improvem~ts, on the site, or in the immediate vicinity of the subject property: None observed...Not tralified or certified fp see or test...See Text Addendum Freddie Mac Form 70 6.93 Form roproduced by United Systems Sortware Compamr (8001969-8727 rvww.unfl~systems.com -Pape 1 Fannie Mae Form 1004 6-93 B-H sisal Services File No. 0100909 NiF RM IDENTIA APPRAI ESTIMATED SITE VAWE ........... ....... s S N ESTIMATED REPRODUCTION COST NEW OF IMPROVEMENTS: Dwelling Sq. Ft. @ S s S ~ Sq. Ft. ®S a AL REPORT ~ Dioo9D9 Comments on Cost Approach (such as, source of cost estimate, site value, square toot calculation and, for HUD, VA and FmHA, the estimated remaining economic life of the ProPedY)~ Due ~ the ach~al a of the sub i is and the fluttuati costs of build materials the Cost ch to - value was not used. The Cost is on considered for Garage/Carport Sq. Ft. @ S = dwelp of "New Construetlon" or for an actual f of less Total Estimated Cost-New ... • • • • = S N/A • ~ ~ E than five . it is the neon of this a steer that the "Cost ~~ Physical Funcdonal xternal " roach to value is load oats and not a ' to in an of I . S a dwelp & im of the actual { of this wb Depreciation = S and would rwt ~ acarrebe re Cation of Market Value. It Depreciated Value of Improvements ...................... = S ' was therefore not considered. Value of Site improvements ....................... •As-is INDN;ATED VAWE 13Y COST APPROACH ................ = S ~ ITEM ~ 82 Ridge Avenue 16 Meade Drive 40 Address Carlisle. Pa 17013 Pa. 17013 Car Lang View 8 Prickly laser Drive lisle Pa. 17013 Carp5le Pa. 17013 Data and/or ~ int./Ext. Inspection CPML & CCCH CPML & CCCH CPML 8k CCCIi Verification Sources CCCH CPML Driv Ext. I t)rivtr F.xt 1 Drive- txt In ' VAWE ADJUSTMENTS DESCRIPTION DESCR1PT10N + - Ad'ustmerit DESCRIPTION ustment + - Ad'ustment DESCRIPTION + - Ad Sales or Financing - r ~ ; ~ ' florist Cash Conventional Concessions `" "• ` N A N A N A n~ro ~+ csrnlnma ~L.. ~` <. - 12/31/2008 _ --- 04 17 2008 03/06 2008 site 0.43 acre 0.38 atxe L 0.35 acre N o.fi3 acre t Jiew T I Residential imilar Simper Similar Desi nand sal Rarrch: A e Similar Similar Similar Qualit of Construction very Good very Good Arena Good Vera Good pe Condition Above Grade Room Count Gross Levin Area 6 rs L Good Total Bdrms Baths 6 3 2.0 2214 S . Ft. 2 .mL Good Total Bdrms Baths T 3 2.0 1830 . Ft. N 6 L Good Total Bdrms Baths 6 3 2.0 31 1802 S . Ft. N New New -29k Total Bdrms 7 3 12 2021 Basement & Finished Rooms Below Grade wll Conuetc Fop CanQete None Krlovm Fup Concrete 8000 None Known full Concrete 8000 None Known Functional Utili 'cal T cat tieati Cooti tai Central Afr Central Air FNq/Central Air tkat Pump/Ce Ene Efficient Items None observed None Knowrr None Known None Known Gera oft z car At>»/2 car Inteyrai 2 Car Aft 2500 2 Car Aft 2500 2 Car Att. Porch, Patio, Dedk, c.."..ice,."r~~ er,. PatioiOedk/taorth r t i ~.r~,ra<•. Porch/DecJc/Path Norte Krrawn PorttVt)edc 2800 None Knovvn 1500 PorchJDetk 2800 (1) Fre~lac_e_ Net. Ad'. total ~ •~~~`, ~ + - S 24820 + - i tnou t - a ~r-v .. _ Adjusted Sales Price ~~ ' ~ • ~ r ~ ; `~~- ~~ of arable ;~._:°.• . , .... .. t 306 720 ";. .:.... S 297 06p t+i:u <.. ,.. S 295 000 Comments on Sales Comparison (including the subject property's com~tlbility to the neighborhood, etc.): The ble used in this ana s are >n opinion the very best availade at the Presalt< and havtngYe~t soil within the rrrost reaerrt months of the . Ap three are relatlve in x and Similar in nature Size erW tongit]on. ust]ilenGS nave peen mass oo >x rw orrre=err~w ar urc u,n wu~c ~ uca n..c.c..ac~o.... modest txe of 30 .R. was used m catculatx above rowed tiNshed 1 area in excess ~ 100 .ft. 20 000 acre or fiactbn thereof was used to cakulate difference in bt size for #3. tVo ad t has beer- used for date ~ ble sales as there has been virtual no a tbn in values for the eras du ' 2008. Date, Price and Data 05/29/2008 10/16/2007 03/31/2006 0684/2005 Source for prior sales CCCH CCCH CCCH CCCH within ear of a praisal X339 000.00 281900.00 259 900.00 ;33 990.00 Lot Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales at subject ar-d comparables within one year of the date of appraisal: See comments on the Text Addendtmr Pa .. INDICATED VAWE !r SALES COMPARit10N APPROACN ............................................................... S 300 000 INDICATED VAWE iT INCOME APPROACH B 1[cabie Estimated Market Rent S A JMo. x Gross Rent MuMi leer N A = t- N A The appraisal is made ®•as is" ^ subject to the repairs, alterations, inspectlona, a conaiaona lfstod below ^ s~ject to corrrplction pct plans and SpeciliCations. Conditions of Appraisal: See Text Addendum Fine! Reconciliation: See "Fnal Recondliatbn" on Text Addendum e... The purpose of this appraisal is to estimate the market value of the real property that is the subject of th(s report, teased on tl-e above conditions and the certification, contingent and limiting conditions, and market value detinRion that are stated in the attached Freddie Mac Form 439/Fannie Mae Fam 10046 (Revised N/A _ ). _ 1(WE) ESTRi1ATE THE MARKET VAWE. AS DEFINED. OF THE REAL PROlERiY THAT IS TIN: tUDSECT OF THIS REPORT. A3 OF January 23, 2009 itiMNiCM IS THE DATE OF INtPEf`TION AND THE EFFECTIVE DATE OF THIS REPORT) TO 1E; ~.~•~ Appraiser(s) signatxx<e has been d ly affixed lu this report w/digitapy protected signature(s) for the purpose of dectroNc transrrdssion. APPRAISER: "' SUPERVISORY APPRAISER (ONLt{ M REQUIRED): ~ ~ Signature ^ Did ^ Did Not SI lure e G. Arthur amen Pa. # Rt:139418 N~ Inspect Property 01 29 2009 j RL-139418 Pa Or Stat i nee # S t Ice # S t Freddie 1Aac Form 7n 6-93 Form rootodoced trv lJnited Strslems 5orlwam Cortbanv r8rl~t 969-8727 www.unlt~svstems.com -Pane 2 Fannie Mae Form 1004 6-93 8-H alsal Senlcas Fite Na. 0100909 QEFINRION 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: (i) buyer and seller are typlcatly 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 an: 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 thins 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 markeCs reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIlI11T1N6 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 goad 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 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 beforet-and. 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 sand 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 east 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 of the property. 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 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 her appraisal report and valuation GonCIUSi0n fpf an appraisal that iS SUbjeCt t0 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 professiona{ appraisal organizations 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 financial institution; or any department, agency, or instrumentality of the United States or any state or the Distrfct 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 v awm 8-H_Agency Appraisal Services File No 0100909 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 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 comparable property is inferior to, or less favorable than 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 value in the appraisal report. l 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 subject 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 of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. f 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. 1 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. t did not vase 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 inconformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Soard 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 interior and exterior areas of 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. l 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. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthoriz~ change is made to the appraisal report, I wiN take no responsibility for it Appraiser(s) signature has been electrnnicapy affixed to this report w/digfmlN ProEe~ signature(s) for the p?u~pose of ele~ron(t trat~smissan. 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 for the appraisal and the appraisal report. ~r1 ~~:~}:~}J ADDRESS OF PROPERTY APPRAISED: 82 Ridge Avenue, C~iisle, Pa 17013 APPRAISER: t Signature: Name: G. Arthur man, Pa. Cert. RL-139418 Date Signed: 01/29/ZOOS State Certification #: Rt:139418 or State License #: State: ~ Expiration Date of Certification or License: ~/3o/ioo9 SUPERVISORY APPRAISER (only if required): Signature: Name: Date Signed: State Certification #: or State license #: State: Expiration Date of Certification or License: ^ Did ^ Did Not Inspect Property BB~A er>cy Appraisal Services File No 0100909 TEXT ADDENDUM Borrower/Client N/A Address 82_Ridge Avenue Unit No. N/A City Carlisle County Cumberiand State ~ 2fp Code 17013 (Ender/Client Estate of icon C. Morrison CURRENT AGREEMENT OF SALE, OPTION, OR LISTING OF SUBJECT: Subject was purchased on date shown in the grid sectlon urxler this heading; it is the opinion of tfiis appraiser that the sale price was over market value for the area and property, and purchaser paid mare than file properly was ac4rally worth. I have ra knowledge of finarxinng, if aryr, and/or any oetified appraisal that may have been done for the purchase. Subject is not uxrently listed for sale. Subject & nxxnp's transfer of ownership within fast 3 years are shown above, & have rat been resold since then, to the best of this appraiser's knowledge. DEFINITIONS AND DATA SOURCES: EXtaOSIJRE TIME: For the appraised property, the exposure fitne, based on the experiences of other similar properties in the same or similar neighborhoods is estlmabed m be at three to six months. F~rposure tlme is backward k:oking, where there is historical data available that provddes a reasonable iMication of the arrwunt of time that would have been involved m market the subject property bring analyzed, and obtain a sale as of the effective date of the appraisal. This data has been considered and used in this estimate. MARKET TIME: Marketing tlme on the other hand Is forward looking, and is enrpressed as an estimate (projection) of the time that would be required to market the subject property and obtain a sale. In this context, ft should be rated that I have adhered to the defir~tlon of "Markel;ng Time" as put forth by the "Appraisal Starxlards Board" and inducted in this report. This definnition advises that marketing time does not begin tmbl two things take place: (1) an offering of the property at a price that marketing partldpants fled ameptable, and (2) an etfectlve ntarketlng plan is implemented. SCOPE (EXTENT) OF APPRAISAL: In the preparation of this appraisal, I have made a physical inspection of the site and the improverrrerrts (if arty). I have traveled the riei9ttbortnood and if necessary, made approgiabe obsevatbns a notes. Data sources empkyed in addition were the zoning map or officer and ordinance for the munidpaliry, the recorded deed a legal description, the tax assessment pane! records, kxal muitl-list records, and the FENW maps far the location, if required. Conskieratlon has been given to the highest and best use of the property, and all three approactes m value, with application tb those most relevant and applicable to the valuation of the subject. Data referring m Predominant Ooarpancy, Single Famiy Age and Pridng, Present land Use and Charges are reflecting statistlcs for township/borough/general area, not for predse subject nelgN:oritood. Other aspects of researdn and analyses relatlrg m the Scope of Work perfortrned as tp the development of the ~ and results and mndusions of this report, are found and disclosed in other sections tltrotghoknt. CCCH & CPML are acronyms for tine Cumberland Courtly Court trlotw and Cerrtrd Penn Multl-List rorpectivaly. These were tfie primary sources used m secure property data. In addition, already verified innformalion and data front my own fills was used if needed, and where appropriate. Ail information devebped was independently verified where public sources rid not provide needed verification. I may have mntaded listlrg or sale agents or other parties to the trarnsactlons, if I felt it necessary b verify data listed in CPMI„ as well as any suspected trtordnary slier concessions. In the valuation process, aq appropriate value approadnes, or thek exduskxns are mentioned In appropriate sectioru of the report PERSONAL PROPERTY: GenenaNy movable items, whblher Inducted in the sob price or not; that is, those not permanently affixed bo and/or a part of the Real Estate. Generally, cwt with exceptlons, items remain personal property if they mold be removed without Injury m either the real estate ~ in the item itself. REAL ESTATE: The physical Land and Appurtenances, inducting strtxixues (genexaUy mrtsidered immovable) affixed tinereto. CONDIRONS OF APPRAISAL (DISCL06URE): The appraiser(s) is unable bo know or verify, and In most instartoea tuqualified m determine tx verify any insulation or "R" fad>or; also the presence of urea formaldehyde foam insulation (UFFI), any wood infnstatlon or nxuse5 thereof, any lead based pelrK, any type of meld or mildew, any asbestos, the presence or amount of any radon, polydorinabed biphagrls (PCB's), chlorofluornxrbons (CFCs), leaking storage tanks (stave or below grotrxi), and soil contaminates a any type of corrtaminatlon. The quality of any drhidng weber carrtot be tested or verified by the ~praiset(s). The appraiser(s) has no nacpertlse and is ungtnalifed to make any assumptions, staterttgtts, or warranties as m the condition of any on or off site septlc/sewage system if present. The appraiser(s) is not qualified tb test for arty contaminates kn, on, or arotxtd the property, and can make no assurrtption as to wknetf>er or not they are present It is to be nobad however, that If any of the afore mentioned itertts are present, the market value maid be adversely artenixd or violated. The appraiser(s) has made every effort b look, notice and document if obsaved, any apparent or urxrwal appearing dretxnstartce in, on or arotxtd the property at tine time of the inspection process. The appraiser(s) teas only eor>sidered the dwelling and items perrrtartently attacted as realty. Personal or ottner items not permanently attached such as refrigerators, wastws/dryers, window air oonditkxners, irne standing sbrnre5, portable dishwasher, etc. were not given value consideration in the appraisal praess. Also NO VALUE is Riven as ro storage sheds, pools (above nx In-grokrnd), swing sets, normal fendng, or ottner Items or exterior stnxtures of per~ved value, unless specifkaNy noted in tine report. Utilitles were on ~- tlme of inspection and all plumbing, heating, air mnctloNng (if Present), mecnaNcai and electrical systems are assumed >b be functional bo the crest ~ the appraiser's knowledgq, however no warranty a expertise Is stated in this report. one adjustments are not market extracted values due to lade and irtooasistenncy of adequate nnarkat data, and tlnerefore are subjectlve in nature. FINAL RECONCILIATION: This report is a Summary Appraisal Report. In the opinion of the appraiser(s), the "Sales Comparison Analysis" represents the best ind'iration of market value for the subject, as defined in tine "Statement of Umitlrg Conditions" oontafned in this report. This approach to value was given tine strongest consideration in estimating the wbjes<Cs manicet value as of tine date of the appraisal. The "Income Approadn m Value" was not considered, as ttte area is pr~ectorriinatey owner occupied, therefore pmiting the amount of available rental data that would be necessary >n aeauatn:y complete that approach Oo value. PRIVACY NOTICE: Pursuant m the Gramm-LeacfreAley Act of 1999, effective ]uly 1, 2001, appraisers and tip providers of persotal fir>andal services are raw required by federal law m inform their diertts of pdiaes with regard m the privacy of t9ent nonpublic personal information. In the cotx5e of research for this appraisal, we may collect what is known as "natpublk personal information." This information is used to fadlitabe the seMoe that we provide, and may include Information provided to us by you, a indirectly provided bo us from others with your authorization. We do not disclose any rrcxipublk personal knformaton obtained in the course of our engagement to nonaffiliated third parties, except as necessary or as required by law. A rtetessary disclosure would be bD an ~ contractor, or in certain situatlons m tlnird party consultants who would need b know Detain informatlon bo assist us in providing these appraisal services to you. Shokdd a disclosure of this nature to any person a firm assisting (n the appraisal process be necessary, such persons shall be adNsed that all information is bo be mainlined in strkt confidence within the firm. A dksdosure required by law would be one that is ordered by a court of competent and fega{ jurisdiction, with rngaM tb a legal action to which you are a party. We will retain records relating to the professional seMoes that we have provided far a reasonable time. In order m protect your nonpublic personal infonnatlon from unauthorized access by others, we maintain physical, electronic and procedural safeguards that mrr~ly with our professions{ standards, to insure searriry and the Integrity Of your inforrnatton. fam produced by Umted Systems Sollwue Company (800) 969-8121 rrww.unitedsystemS.com 8-H Agency Appraisal Services Frle Na 0100909 SUBJECT PHOTOGRAPH ADDENDUM 90rrower/Client N/A Address 82 Wdge Avenue City Caritsle Coon ~~~~ Unit No. N/A ty State Pa Zip Code vo13 Lender/Client Estate of Leon C. Morrison Fro^t View Rear View Street Yisw Forrn produced Oy United Systems SoMraro Compury (800) 9698721 www.unitedsystems.wm 8-H Agency Appraisal Services File No 0100909 SKETCH iorrower/Client N/a iddresS i32 Ridge Avenue Unit N0. NL :ity Carlisle COUnty Cumt~iand $iate ~ Zip Code 1013 ender/Client Estate of teon C. Morrison , ~,,, r~,~, ~ ~~~~«, o~ana awiwuo ~omparry t+~l ~s-aizr www.unaeasystems.com B-H Agency Appraisal Services File No. 0100909 COMPARABLE PHOTOGRAPH ADDENDUM iorrower/CHent N/A IddtesS 82 Ridge Avenue Unit No. N/A ;ity Carlisle County cumbetiand State ~ Zip Code 17013 .ender/Client EstaOe ~ Leon ~• ~~ Sales Compuable 1 Front Yiew Address: 16 Meade Drfire Prox. to Subject: 0.2 MI SSW Sales Price: 3 281,900 Gross Living Area: .1830 Total Rooms: 7 Total Bedrooms: 3 Total Bathrooms: 2•~ location: same Sales Compuable 2 Treat Vlew Address: ~ ~ ~+- Prox. to Subject: !.o MI SW Sales Price: S 269,900 Gross living Area: 1802 Total Rooms: 6 Total Bedrooms: 3 Total Bathrooms: 2.00 location: Similar Sales Comparable 3 Front Yisw Address: B Prickly Pear Drive Prox. to Subject: 1.7 MI 5W Sales Price: S 289,500 Gross living Area: 2021 Total Rooms: ~ Total Bedrooms: 3 Total Bathrooms: 2.so Location: Similar Tam produced Dy UnGed Systems SoltMrarB Company (800) 969-8127 www.unitedsystems.com B-H A ai5at Services file No. 0100909 LOCATION MAP Borrower/Client N A Address 82 Avenue Ciry t:artisk Unit No. N/A County Cumberland State Pa Zip Code 1~oi3 Lender/Client Estate of Leon C. Morrison - -•- -~----•.-_.- ~~~.,~~~, ~oW~ av~-oiu www.unneasystems.cum _ _ _ _ s.v. aia..waava~a ~ tlvvo tvt i 1\VLLit~l 1J.1'1L 1'1t~{<.L i1Vl.. - 1 il11VU: I'111Q111:G rage 1 oI Li ~~~~ Y~~i~c':o! r~;y Y,~i•ic~a! t~fail More Make tr! My tiomepage Mew User? Slyr~ lip Sign Zn Nelp r _..__ ...................__.._._... i- -~-~, , WEB SEARCH ,~7~~.++'~~ Sea ch ----_~._..._._..._.....,._,...~_.....__ Dow '~" 1.78°!a Nasdaq "~' 1.46°!° Tue, Feb 3, 2009, 4:20PM ET - U.S. Markets closed. a~ -"iYl'iW'Bi~SiX7"' , "W _. ~I~~S Finance Search Prudential Financial inc. (PRU) ~ i X.:... ~f31aa+: '" ..f~' ......,~ ~ ,.... ,..M,. Historical Prices SET DATE RANGE At 4:O1PM ET: 26.61 "~' 0.15 {0X57°!o) ~. . ' 1 ..h ygXR .`~ atur der tt[ :.. :: Get Historical Prices for: '-` ADVERTISEMENT ~~ Daily _ .. _ ... Eg. 1an 1. .. 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Get Historical Prices for Another Symbol: ; ~'~ ~y„rlt.¢Q.L.~ooKun • Stock Screener Salits http://finance.yahoo.comiq/hp?s=PRU&a=11&b=4&c=2008&d=11&e=4&f=2008&g=d 2!3!2009 _ . _ . .. _~.....~ "1 - •.... , _, a.rnt• ~.vs wren + ~ ,n ~.~i ~ ~~Yn~9~.L'. 1 1 I G`7KJ`tl`7J I Q = f 1 f b~L" f"J~iU t'..S~b ~ ukershane ~" ,~, ~~~ 1 G~u~~tlttltetsllilte t~ ~ ~ 3 5 9 2 Pit ~x atc>~3 Wravidcncc, Hhode Island OZ940-3033 Within the U5, Gat»Ida ~ PuQrdo Ais+o 800 3f15 A4Q4 tt>A lMPpRTANT TAiC 1~~TURN Q~JGUMElYT E(YGLK~$~D r .~ Outside the US, Canada 8 Fuego Rico 732 .ft2 37A2 ®~ "•'"**""*AU'a•0"`5.OIGIT 17Q13 004Q00111lOOOOS3;r92 www•CC~t~pUtCtshaPC.COmrnvestor ~-" t1eolDlent LEON C MQRRlSON ~ 705 PARKER ST APT i ~ARLISI.F PA ~ 70'13-3620 ~ Holder Account Munihar lt~~lfl~t>rlllt~t,~tli~tll~~~Il~Rll~~~~l~llt~~~lfi~~„~1i~ll,~l GOQ~4494.114 I ~ D .. -- UnrdRiflnd accnurtta am Rlttslr~tt ttf wlt~-Haltiinl~ Rccord DatQ ~ Nov 1~! 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PayQrS 1=4dgrt-I 10 Nth. 71.3703799 OM9 No. ~ 1545.0110 `pt~pmma~t nt Ifs IKwyu'Y - U~la-twt rkw~Nr S.rv~cr i Total Ordinary t~ Quelfied ~ I IYvtxiiviclatlct 4 ' FEDERAL 1NGQME n Fcfrl;iyn Tax ~ Ftlteign Ctxr>ay e T t.esh l.igtodeaon QtvkiandF (~} ~ l~ivldendb (~~ DlsMtwtlonR t~} TAX wITHHEt.D (t~ Pald (5) tr U S. P~1 Dlt~tl ~~ l ~ Paya's pctails 104,40 104.40 0.04 ~Sf.23 Q ~ PRUDENTIAL FINAIW',IAL 1NC i C~ f;41dIFUTERSHARE II P.p, gOX 43010 I r~OvtpFIaCE 12102940-.'~ 10 Farm 10~-pIV (Keep for yot:r records) ~ I~ivi~~nd Confirmation Payment Dst~i Ctasf3 Descrlptitar~ ~ Patticlpating 4ivids~td Gross ~ 0-adu~tion i , Qeduction ( Net ShareslUnits I Rst~e ~ Dividend (~} . Amount 5 I I ptvlde~td i 19 Dec 2000 COMMON ~ilQ $p.,Qppp 104,x0 39,23 Fed ~at~ctf~ Wlh Tax 75.17 Year,Ta•I)ait: Paid 104A0 19,23 ~ 75.17 I 4~UTX F' R U '~" rxa"'C57000a afKxnn rr~~tl PI,EASECASM~DEIYI~•,ITTNt°,GHEGKi'ROMp7LY. J Gh244.-~2 ll Amortization Schedule 12/12/2008 Purchase Price: $906,887 Down Payment: $0 Annual Interest Rate: 7.000% First Year: 2006 Term (Years): 30 Months in First Year: 4 Annual or Monthly Report?: Monthly Monthly Report for Year: 2008 Amount Financed: $906,887 Monthly Payment: $6,033.54 Months in Last Year: 8 Ending Principal Interest 2008 Principal Principai interest Paid to Paid to Month Balance Paid P,. aid Date Date 1 $893,642.45 $815.87 $5,217.67 $13,244.55 $89,325.66 2 $892,821.83 $820.62 $5,212.92 $14,065.17 $94,538.58 3 $891,996.41 $825.42 $5,208.12 $14,890.59 $99,746.71 4 $891,166.18 $830.23 $5,203.31 $15,720.82 $104,950.02 5 $890,331.11 $835.07 $5,198.47 $16,555.89 $110,148.49 6 $889,491.17 $839.94 $5,193.60 $17,395.83 $115,342.09 7 $888,646.32 $844.85 $5,188.69 $18,240.68 $120,530.78 8 $887,796.55 $849.77 $5,183.77 $19,090.45 $125,714.55 9 $886,941.82 $854.73 $5,178.81 $19,945.18 $130,893.37 0 $886,082.11 $859.71 $5,173.83 $20,804.89 $136,067.20 11 $885,217.38 $864.73 $5,168.81 $21,669.62 $141,236.01 12 $884,347.60 $869.78 $5,163.76 $22,539.40 $146,399.77 Amortization Schedule Mortgage amortization involves the periodic reduction of a mortgage debt over periods of time typically ranging from 10 to 30 years. Interest rates are applied only to the remaining balance on the mortgage debt, Principal and interest are included in monthly payments, which may also include escrowed amounts for real estate taxes, insurance, and other assessment items against the property. The mechanics of an amortized loan are that the lender calculates the exact amount that must be paid each month (or quarterly, semiannually, etc.) in order to completely amortize (pay off) the principal amount of the loan over the specified time period. The amortization process continues until the loan is paid off. During this time, the annual interest is first computed on the remaining balance of the mortgage. Then, it is converted to a monthly interest charge by dividing the annual interest by 12 months. This monthly interest is then subtracted from the payment. The balance of the payment remaining is then deducted from the remaining mortgage balance. The result is the new mortgage balance. This is then used to compute the next month's apportionment and charges. Since the loan balance is larger in the early years, a much larger portion of each payment goes to interest. In later years the greater portion of each payment is credited against principal. REA E$~TE lNSTALLM~NT SALES CONT,~CT THE PARTIES to this Agreement are Leon C. Morrison, of Carlisle, Pennsylvania (hereinafter "Seller") and James K. Molder and Vickie D. Holder, husband and wife, of 1359 Centerville Road, Newville, Pennsylvania (hereinafter "Purchaser"), WHEREAS, the parties entered into a Reai Estate installment Sales Contract dated September 27, 2005 relative to real estate located in the Borough of Carlisle, with address®s of 203 South Hanover Street and 4, 8, 81/2, 10,12 and 16 East South Street, Carlisle, Pennsylvania; and, WHEREAS, the parties desire to enter into an agreement for Seller to sell to Purchaser real estate located at 207 South Hanover Street, Carlisle, Pennsylvania, which real estate is contiguous to the real estate which is the subject of the parties' September 27, 2005 Contract; and, WHEREAS, the parties are desirous of merging the teens of the September 27, 2005 Contract with the terms of the sale of 207 South Hanover Street, Carlisle, Pennsylvania; WHEREAS, the principal balance owed by Buyecto Seller on the September 27, 2005 Contract is $743,036.80; and, WHEREAS, the sale price for 20? South Hanover Street is $1fi3,850.00; and, VI~HEREAS, 203 South Hanover Street and 4, 8, 8112, 10, 12 and 16 East South Street, Carlisle, Pennsylvania and 207 South Hanover Street, Carlisle, Pennsylvania shall collectively be known as the "premises." NOW, THEREFORE, the parties intending to be legally bound hereby, do covenant and agree as follows: 1. Sale Pace, Terrns: Th® Purchaser agrees to pay to Seller for the premises ~e sum of Nine Hundred Six Thousand Eight Hundred Eighty Six and 80/100 Th Iree (906,886.80) due and payable in monthly installments of Six Thousand Thirty 54/100 Dollars ($6,033.54) on the first day of each month beginning on October 1, 2006 to be applied fiat to interest at the rate of seven percent (7%) per annum and thereafter to reduction of principal. All unpaid principal and interest shall be due in full on or before September 1, 2010; provided, however, that Purchaser may, provided Purchaser is not in default under this Agreement, extend the date upon which all unpaid principal and interest ~s due in full for an additional five (5) years and interest shall be calculated on the principal balance due in the additional five (5) years at the rate of nine percent (9%) per annum, in which case all unpaid principal and interest shall be due in full on or before September 1, 2015. 2. Late C~har+a_e_: A late charge of five percent (5%) of such monthly installment shall be paid by Purchaser for any payment received after the tenth (10th) day of any month in which the monthly installment is late for expenses incurred by Seiler in sending delinquent notices and account supenrision. 3. Add, itiongl ,Q~yLrr~gg~: In add~ion to the said monthly installments on account of purchase price and interest thenson, the said Purchaser agrees to pay the taxes, municipal assessments, utility charges, make all necessary repairs to the premises and to keep in force not less than ape Million Dollars {$1,000,000.00) of fire insurance and extended coverage with a reliable insurance company approved by Seiler, with loss payable to the parties as their interests appear. A copy of said policy is to be sent to Seller and Purchaser hereby authorizes any insurance agent or company with whom Purchaser transacts insurance business to release to Seller confirmation of the existence of an insurance policy satisfying the provisions of this paragraph. 4. Prepayment: The Purchaser shall have the privilege of paying any amount in add~ion to the required monthly installment of principal and interest as desired, and nothing captained in this Agreement shall be construed to limit reduction of principal of said amount Interest shall be computed on the unpaid balance. 5. P~ar~ of Psxment: All payments shall be made to the Seller at P.O. Box 745, Carlisle, Pennsylvania 17013 or any address subsequently provided to Purchaser by Seiler. 6. De~ tNery of,~o,~es, slop: Purchaser acknowledges possession of 203 South Hanover Stnaet and 4, 8, 81!2,10,12 and 16 East South Street, Carlisle, Pennsylvania. it is also agreed between the parties hereto that possession of 207 South Hanover Street, Carlisle, Pennsylvania shall be del'nrered to the Purchaser on the date of settlement, and that said Purchaser shall be entitled to receive rents, issues and profits from said date of delivery of possession of said 207 South Hanover Street, Carlisle, Pennsylvania and the premises as a whole. 7. Alterations: The Purchaser agrees not to make any substantial alteration of the condition of the premises or of any buildings thereon erect~i without first securing the written consent and app va f Sel r. 7 8. Taxes Proration: T e ep em r `'~,, 0 ontract provides that Purchaser is responsible for ttre real estate taxes for 203 South Hanover Street and 4, 8, 8112, 10,12 and 16 East South Street, Carlisle, Pennsylvania. Taxes for 207 South Hanover Street for prior years have been paid. Taxes for the current year for 207 South Hanover Street shall be prorated between the parties hereto using the fiscal years of the taxing author~ies as the basis, and on the date of settlement, as prorating date. When Purchaser pays the entire sum due hereunder, Seiler shall pay one-half (1 /2} of the transfer taxes then in effect up to a maximum of on® percent (1 °lo) of sale price hereof, and the Purchas®r shall pay the remainder. Provided, however, if this property is conveyed to a third pasty at the request of the Purchaser, then ail transfer taxes on said conveyance shall be paid by said third party and Purchaser as they may agree and none shall be paid by Seiler. 9. $eit, ens R~s~ht tc,~ Encumber: Seiler shall have the privilege of encumbering the premises which are the subject of this agreement by a mortgage or otherwise, provided that at no time may any such encumbrance exceed the unpaid principal balance of #his agreement, and if Seiler should default in making any payments which may be required in connection with any such mortgage or other encumbrance, the Purchaser shall have the privilege of applying any sums payable pursuant to this agreement to such encumbrance holder, which payments shall be credited toward the obligations of Purchaser hereunder. 10. eme,.~t. Settlement shall occur on or before September 1, 2006. 11. ~ ina of, Agreement: This Agreement or a iNemorandum hereof may be recorcled at Purchaser's expense. 12. deed Convevance: Upon compliance with the fot~egoing terms and conditions and payment of the said purchase price in full by the Purchaser, the Seiler wiN, at the expense of Setter, make, execute and deCtver to the Purchaser, a good and sufficient deed for the proper conveying and assuring of the said premises, in fee simple, free from ail encumbrances, dower and rights of dower, subject only to easements and restrictions, visible or of record, such conveyance to contain the usua{ covenants of special warranty. 13. Default by.p~rchasgr In the event the said Purchaser shall fail to make any monthly payment for a period of thirty {30) days aft®r the same shaii have become due and payable by the terms hereof, or if a breach of any of the foregoing conditions be made by Purchaser, then and in such case this Agreement shat!, at the option of the Seiler, become null and void and the Purchaser shall forfeit all monies then paid as liquidated damages, representing the fair rental value of the property during th®time the same shaii have been occupied by the Purchaser. Provided, however, that no such default shall occur unless Seller has given Purchaser at least fifteen (15) days written notice of such violatioh of the terms hesBOf and Purchaser shat! have failed to correct such default. in the aitemative, if default shall be made in the payment of any monthly payment for a period of thirty (30) days after the same shall have become due and payable by the terms hereof, or if a breach of any of the conditions of this agreement shall be made by the Purchaser, the entire principal sum remaining unpaid may, at Sellers option, become due and payable at once and may be collected by suitor otherwise; and the Prothonotary or any attorney of any court of record of Pennsylvania or elsewhere is hereby authorized and empowered to appear for and confess judgment against the said Purchaser and in favor of the Seller for the whole amount of said principal sum remaining unpaid, together with interest, costs of suit, release of errors, attorney's commission of five percent of any unpaid balance due hereunder, and waiving inquisitions and exemptions. Upon the breach of any of the covenants or conditions of #his Agreement, or upon its termination by forfeiture, the Prothonotary or any attorney of any Court of record of Pennsylvania, is hereby authorized to appeac for and to confess judgment in an amicable action of ejectment against the Purchaser and in favor of the Seller for the premises herein described, and to direct the immediate issuing of a Writ of Execution for costs, waiving ail irregularities, without notice and without leave of Court, and with Five Hundred and 001100 Dollars ($500.00) added as reasonable attorney's fees. Seller shall have the right upon any default or subsequent default or upon termination of this~Agreement to bring one or more amicable action or actions to recover possession of said premises. In order to effectuate compliance herewith, a Deed conveying the subject premises from Purchaser to Seller shall be delivered to Michael A. Scherer, Esquire, to be held in escrow to be uti['~zed for the conveyance frr~m Purchaser to Seller in accordance herewith in~ the event of default by Purchaser. Michael A. Scherer, Esquire, is authorized in his sole and total discretion to deliver said Deed to Seller thirty (30) days following written notification by Seiler to Robert G. Frey, Esquire, with a copy to Purchaser that default in the nature of a payment being due past thirty (30) days, or otherwise has occurred. The parses release Michael A. Scherer, Esquire from any liability hereunder and agree to indemnify and save him ham~less from any claims with respect hereto or from any loss or damage, direct or indirect arising hereunder, including but not limited to costs and attorney's fees incun-ed hereby. Parties further agree not to institute or commence any action or suit whatsoever against Michael A. Scherer, Escrow Holder, but ail legs! actions shall be directly between the parties. Purchasers acknowledge that the~-~ayre r nd understand the foregoing default provisions by initialing here, ll~~ ~~''``'' 14. ~~Q~y~# Sellers' Deed. The Sellers agree that concurrent with the signing of this Agreement that they will execute and deliver to Michael A. Scherer, Esquire a deed to the subject premises to be held in escrow and delivered to Purchaser upon the compliance with the terms and conditions herein. Salters, their heirs, successors, assigns or the survivor authorize Michae! A. Scherer, Esquire, to deliver said deed upon satisfactory proof that all terms and conditions have been met and release Michael A. Scherer, Esquire, from any liability her®under and agree to indemnify and save him harmless from any claims with respect hereto or from any loss or damage, direct or indirect arising hereunder, including but not limited to costs and attorney's fees incurred hereby. Parties further agree not to institute or commence any aeon or suit whatsoever against Michaei A. Scherer, Escrow Haider, but aIi Iegai actions shall be directly between the parties. Acceptance by the Seiler of any of the aforesaid monthly, payments after the same shall have become past due and in default, or any failure to enforce any of the rights herein reserved to the Seller, or any of the penahies, forfeitures, damages or conditions herein contained, shall not be considered a waiver of the right to enforce the same at any time without notice whatsoever, and any attempt to collect the amount due by one proceeding shall not be considered a waiver of the right to institute any of the other proceedings herein provided. 15. Modification. No modification of this Agreement shall be binding upon the parties hereto unless the same shall be in writing and duly approved by said parties. 16. Assignability. The interest of the Purchaser in this Agreement shall not be assignable, i~n whole or in part, without the prior written consent and approval of the Seller, and if such assignment is attempted, all rights and remedies of the Seller set forth herein or which the Seiler may otherwise have, shall immediately accrue to the Seller. Transfer of title by Will, survivorship or by descent shall not be regarded as an assignment requiring the consent and approval of the Seiler. 17. Q!nd~119 Agree,Lnent. This Agreement is to extend to and be binding upon the heirs, successors, executors, adm~rnstrators and assigns of the parties hereto. 18. Fxistino L~~se,~. To the extent that there are written leases between Seller and any tenant at the premises, said leases} shall be assigned to Purchaser at the time of settlement. Ail security deposits being held by Seller shall be released to Purchaser, vrrho agrees to take responsibility therefor. Pun~aser shall reimburse the vacating tenants for the security deposits in accordance with Pennsylvania taw following setNement. 19. Selle~s Ins ec 'on. Seller shall have the right to Inspect or to appoint an agent to inspect the property at least quarterly to ensure that the property continues to be maintained in an acceptable manner to Seller. Purchaser shall not let the property fall into disrepair or n lect to perfo any maintenance required to keep the property in a good condition 27 t 20. Seotember~l,. 2005 Rent Estate IO~iiment Sales Con,~ct Rescinded. The parties agree that this Agreement supersedes the September 1, 2045 Real Estate Installment Sales Contract and the parties hereby revoke and rescind the September 1, ~ ~~ ~ ~~ ~ 2005 Real Estate tnstallrnent Sales Contract. If necessary, the parties shall sign a document which will satisfy the September , 2005 Real Estate installment Sales c f~ umberland Coun . Contract in the Recorder of Deeds Off'i a or C ty fhb WITNESS WHEREOF, the parr<~es hereto have executed this Agreement consisting of pages the day and year first above written. vVITNESS: SELLER: -- ~~"~ C4MMt)NWEAi_TH OF PENNSYLVANIA (Seal) Leon C. Mo 'son PURCHASER: ~:-~ __ James K. Holder ~=~'~ e 1 / S a) Vickie D. Holder COUNTY OE CUMBERLAND :SS. _~.. On this, the ~ day of ~' ~ s ~ , 204fi, before me, the undersigned officer, personally appeared Leon .Morrison known to me for satisfactorily proven) bo be the person whose name is subscribed to the within instrum®nt, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, i hereunto set my hand and official seal. NOTAAUL SEAL HpBERT G Fi~Y NOTARY PUBUG Boraugl~ of CaA~sie Cumberland Cour~- PA My C~,nx~nes~art Expaee June ~ 2010 COMMONWEALTH OF PENNSYLVANIA ) :SS. COUNTY OF CUAABERLAND ) On this, the ~____ day of v v ~ , 2006, before me, the undersigned officer, personally appeared Jame .Holder and Vickie D. Holder known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained. IN WITNESS WHEREOF,1 hereunto set my hand and official seal. -. (Seal) NOTARIAL. SEAL ROBERT G FREY NOTARY PUBLIG 8orougra of Cachsle Cutnbedu~d CourNy PA My Cwnrnseion Expires June 42410 . 3.~ p4o ~~~~~ ~- ~~~~ T~ 11~~VIORANDUM OF AGR~Bd~NT, made this _~~ day of ' ~ $ ~P. ! ~- #~ ~ C ~ 2006, by and between LEON C. MORI~ON„ of P. O Box 745 Csrlisig County, Pennsylvania, ~8 hete7naBer t~fearred no as party of the, pert, oar "Seller;' ~ ~ jQ;.~ JAMFr$ K. HO~~Et+t am~d'VIC`K~B ~ $OLD~, ~ 1359 Ceaaarville Road, l+ievwillc, G~imb~rrland Comity, P-eamsylvanis,het+anaBerrete~ted oo as party of tha aec~nd paR, err ~~~~ and is as follows: WHLRI~AS, Selkx is the owner oaf rcal shuate m the Baanougb of Carlisle G~unberlaod Chanty, Pmnaylvanis,'baving a api~t~~ c~~! South F~i~ov~ St~e~, Cerliade, P~nsylvania, being more described on "A" atxached l~~o; WI~1B~S, the paurties hereto ontard i~ a cxxtain ~stalhn~eat Safes Agroaznent for theabove-n~entian~ed per; aisd WP[F.itBAS, the paTlks dessre that a MemoRemdumn of Installnacnt Salo Agteenncnt be recorded in the Ot~ce of tha ~ of T)eeds do gi~v~o notice of the respective ownership ink in the pce; NOW TSIR.~+'ORF,, it is agt+eod as follows: 1. The recitals ~etforth above ame inoapore~bed by roe tiro. 2. The Seller has Agreed to sell sad the Per has agx~eod to p~pnchase the Pmp~Y ~ the term$ and votyditio~os of a cx~n Installasmt Saks Agneemeat datAd the same date as this l~~amataoduni oaf Agroerm~ent. 3. The of this Mearnocatxlum of Agrees is to memorialise the Instellno+ent Saks thepairties. 4. The tecordatioa of a deed conr~cying theabove-d~escribod praises in which all of the parties lustitro are also shall be deearaed a cxa~rms~ion of the 'oa of all of the terms and cu®ditio®s of the Series Agc~eement and of this Mexn~oanncbtm of Agroemdnk 6. Any notice, bender, delivery a eauocati~on to beg~tven hereundexby ether petty to the other may be effected by pecsa~nsl delivery in wdttag a ~y ceeii5ed mail, prapeld, rc4na receipt reg4esoed, oc by c~uariRt savioe p~ovidio~g i~var a slgoe~a+e a• • aid shaIl be deatned mceivod as oot~~ tame sad die of nwling. Matted sbaII bie ~~~ as set fiorth below, but each party may changer hs address by wtittar n~oticx in sovotdsnoo with this P~S~ph~ To rho Scilor A/sma~lm o~ASrrssi~nt LBON C. MORRLSON P. O Box 745 Garlick, P~nsyhrania 17013 Pags i of s ~07~29~~455~ To the Pu~ncbaaer: JAMES K. HOLDER and VICKIE D. HOLDER 1359 Come Road Nawvi'lle;, PbnmaYr-snia 1T2~41 ?. All Agt-ettirent8 bttwee~ the pait~es ate, and shall be in wilting. IN VVITNBSS WOOF, the parti~as harexo, ' ~o be legally bautd ~+eby, have ea~ocu~ed this Mdumt of Agrot as of the ~Y and ~ ~ above written. COMMON`iV~3ALTl<I OF PENNSYLVANIA ON G MO 'SON x. ~o~.u~ VICt~ D. HOLDffit On this, the ZSth day of Augur, 2006, before m~e, the: 8~ ~ P~'~Y appeared LLON C. MORRTSON, lanown m ma (a sat~t,~ly p~ov~ea) to be the: arhose names am snbseribod to the w~thia and tb~act they saode for the purposes thcxein co~inod. IN wrrNBSS , I hereunto sex ~ head and official seal. IbNrnorandeon ofApr~t ~~~ Bo~oiR0~8EAaTC~f~ Y NOTARYPUB~IC ~t'i01fNIMMlOflFa~e•iw1l4 ~PA Pam 2 of 3 ~Ea729P6455-8 CO~ONWBAL."1'H OF PENNSYLVANI,P- COUN'1"Y OF CUMSF.RLAND . 20p6~ before m~e, the ~ of6oer, Pe~'rY~) On this the ~~ ~ °f ~~°~Y D. AOI~Eit,~ ~ S~ ~"~` apps IAAIIF.S K. gpLDBR~ ~ ~ ~ wig . m be the persons whosa names executed tha same for the ° CO°°~"~' IN WITNESS WHBitF~OF+ Y DLO ~ ~ bead and official scat. Public t~gTAf1U1L ~ ROBERT G PREY NOTARY PUBUG Borough d CaAale QmbbtWd Carilq PA ~ Opnnnpon Expmes June t 2610 Afemoraad~m of Ag-eentant Page 3 of 3 ~4~29P645~9 ALL those two certain adjoinitng #racts of land situate in the Second Ward~of the Borough of Carlisle, Cumberland County, Fennsylvania, bounded, and '. , as. follows: ~ ' ON the West by 8Q feet wide South Hanover Street; on the North by b0 feet wide East South Street; on the F.~ast by Cernettry Avenue, sornetiYnes known as Grave Yard Lane; and on the South by Tract No. 2 hereir~afbtr described, fornveacly of Aline A. Coleiman and later of~dward Westfall, jr. - CONTAlN~3G 60 feet; =rote or less, in firo~nt along the eastern line of 80 feet wide South Hanover Street and extending eastwardly therefrom at an even width along the southern line of 6Q feet wide East South Street, a distance of 230 feet, more or less, fia- the wesberr~ lime of the public alley known as Ave~ctue and eon:1etirrtes called Grave Yard Lane, and having thereon erected a two story brick apartatitnt building and a one story garage building in the rear thereof known as and nuntibered 201 etc. South Hanover Street. ON the North b'Y' Tract No, l above desa3bed, #orncieerly oochxp~ied by S.W. Ladd Motors, lnc.; on the Bast by a public alley known es Cemetery Avenue and sou~etim~es called Grave Yard Lane; on the South by lot foruuverly of Ch~urles C. Eppley and now or formerly of Will~tam T. Snyder lalawn as 213 South Hanover Street and on the West by 80 feet wide South Hanover Street. Ct3NTp-IN1NG 30 feet in frontage along the eastern line of said 80 feet wide South Hanove9r Street and extending eastwar~dly therefrom at an even width a distance of 230 feet, more or less, to the said Cemetery Avenue, and leaving thereon erected a brick dwelling house formerly numbered 209 South 1"~inover Street and now numbered 20'7 South f•Ianover Street. ! 'rt;rt f fy th i s to he recorded Ixj f~;umk~criand County PA ~f - -1,`~~~ , '3 ~l ~t .. ~ :.:1 - recorder of Deeds ~~12~9PG45~Q OxRS~rowrr Bn~ AT.adieion ofEzcellenm Scl~dN-l~ ~-~s I-3 March 2, 2009 Susan E. Lederer Law Offices 5011 Locust Lane Harrisburg, PA. 17109 Re: Estate of Leon C. Momson Dear Ms. Lederer, 77 East King Street P.O. Box 250 Shippensburg, PA 17257 I apologize for the tardiness in providing this information to you regarding the late Mr. Momson. Checking acct #403008 Joint with wife Jeannette and daughter Sondra McCoy. Acct opened 8/29/94. Balance of acct on 12!04/08 $100,849.97. Checking acct #106001890 Joint with wife Jeannette. Acct opened 1108/01. Balance as of 12/04/08 $8,639.69. Both of these accounts were Senior Citizen accounts. They only earn interest at a rate of .10% APY. ~ TDOA #186248627. This is a certificate of deposit that matures daily, and can be both added to and taken from as needed. This account was in Mr. Morrison's name alone. The balance on 12/04/08 was $233,401.21. Certificate of Deposit #4000006798. This CD was in Mr. Morrison's name alone. Balance as of 12/04/08: $22,548.29 3 Certificate of Deposit #4000018637.Once again this certificate was in Mr. Morrison's name alone. Balance as of 12/04/08: $20.924.42. Should you need any further information, please don't hesitate to contact me. ._..-~ Sincerely, ~ ,~ -f Carol A. Ramp Branch Executive Officer North Middleton Office ~ir~'!S ORRSTOWN snrni ATivdition oJExcdlmm 77 East King Street P.O. Box Z.50 Shippen3burg, PA x7~? August 10, 2009 Dca~r 1V1s. T..eder+er, I harre enclosed print-outs for the twa Cextifioates of Deposit as well as the Time Deposit that Leon Mon~ison had watth v,s at the tinge of hig death, December 4, 2008. here aYe the ia~dividual break-downs per account: Checking #403008 ~~ interest had accrued. Checlang #106001890 $.79 interest credited 12/0X4$. i Tune Deposit #1$6248627 $191.84 iuntexest credited 1?J05l08. Certificate o£ Deposit #4000006'798 $54.85 interest credited 12!19!08 3 Certificate of Deposit #4000018637 $34.06 sntet credited 12/10108. should you zzeed any additional informatxan, please let me know. You do z~ot need to cgntinue~ fio FAX all the pages o#'the original documentation that you sent me back on February 3 ,each time yQU have an inquiry. I have those copies ~ xny file. 't'hank y Carol R F rCorth Middleton Office town D 500/Z00 'd L09t~~Z~ ~I4Z~'IQQI~ l~ I~tOZSddO ~Id I5~Z0 ~n~ 600Z-II-~ll~ St MEMBERS 1St FEDERAL CREDIT UNION REGULAR SAVINGS ACCOUNT: Account Number/Suffix 227271-00 Date Account Established 02/26/2003 Principal Balance at Date of Death $25.00 Accrued Interest to Date of Death $.00 Total Principal and Accrued Interest to Date of Death $25.00 Name of Joint Owner None CERTIFICATES OF DEPOSIT: ' Account Number/Suffix 227271-40 Date Account Established 02/26/2003* Principal Balance at Date of Death $126,348.53 Accrued Interest to Date of Death $32.19 Total Principal and Accrued Interest to Date of Death $126,380.72 Name of Joint Owner None *Opened by transfer of funds from account 195119-00. 227271-46 04/13/2006 $112,112.89 $32.71 $112,145.60 - None ~ BERS 1S7 FEDE L CRED UNION . V~ - ` L~-~--- Danielle A. line Insurance Services Specialist February 12, 2009 Estate of: LEON C. 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AVliliA(11; ~~' PlKlnl u _ .• i NAMk M __.... ~--•-- AIH11tl•S~ _ - - _ SUII'I'~I•t'A1, I•Ilf INI: •I •~ ~ -~ At/iHtPf:e - - - - •- '1'U'1'AI. r~'. VI It INR x Apprrli;,!r- f ~ ~ n •~ ll:or~~=~~ .... I'A ApprniKrrs I.:crn~q iYn. ~~,~~ t'upy tV C1lrllrr / "L~ -O~1 rs. (:u,l,luu)• JV~ S~~~~21att-l.E' T_ Cr r~~, . C-+;ERT~' _~ ICA~TE OF TITLE FOR A ~ '"~~ ~ J'9~ ~ d +~ f~ I } k ~ ~ ~ n~.a~y 4MY H^ ~~r.~~..yyTr~~ ~. ~~'yy:~ ~.l~.~ ..:4Ea~l;F"~ ~~.. i~ 'YY. .. ,.'~. ...:~`~w 1; ~.. •f ,~ 7.~ .......................«~.~...~~~-u. - ....~.~...,.. ....~..u,.,.....~..n.~.....~....,.~.....ew..,~,. .".~~'.. ;+~`:T ~:.. ,:7: R .. ti+ ~- ~~: ..~ ~... * ~~ ~i ~.,...~ ... .~ ',;x p /~ q y *y +}, ~"3...~~:i~r' P.tWI 1JU1J1BER' J~`t .L. .L 3.~~ .F 1 °p°.. ~t j .e~. YEHfC `AE#gIFICA ON NUMBER ~~ ^~ _~ :.m~r~+ 7 p ,. ~L ~y 71r,~` ~ fi. ~ ~ "i~~~~~ ~ ~'~ OD9~~~ATAIST ~ E R ~ ""~ P "' T„p" ~ SEATCAP .i~ ~~ptrq~ .h I •.. ..r.,., .... CVWR " .,~ »t" DATE~OF ISSUE ~ UNL.ADEr(wEIOHT DATE PA'fgTLED - ~. ~.. ...~ ~ :. ,, ~t MI "f r ~ ~ ';~ LI ~ - ~~~+~ ~'-H ,nd~ . ~ ~.~~~~. r f - r~ ~ ~~ TAM . '~ ; " ~ ~ ~ ~ ~ ..., ~ t ~ ~ AX UNPAIO <.~EM~ 1Db 'f RATION NOT T~ r ~ ~ ~~ T~. ~kEGiSlT J _ t;~. R ISTEpED A .Y ib ~ ~1 ~ } n ,: 1 ~ b ~ 1'~ ~~ ~ ~, ~, INae ~ v t ~~ s i yr ~ l a~ '1 h` ~ h~ O `.~ a c~ ...1 t0"faCl v f>S., "'` /tl'1 `otidlp'N",~+'"i ur "sewn _ k ,~,};.,,, _ '..P Isrwas a 11 a'co-puf!;t SUBSGRI E6AND-SW.oflN - ;, ' be 1131ed , @S'',Jc T FO ME ~ "~ i '' G' s.. OW(fiBF,^ tte•g_pe! « +` ~ Wil~~6~3suo~tr I „ ~ 3 '._ ,, J~.a a degeas`gd owns ~~A 91 ~h ,BgNk r nnsr cun~ s t ~~16T"ttEOI DFyTt; (T } h'r. ti %v. *y w' ,i s z ••..2-c. "'~ 15T l1ENHOLDEF } :. - .r E. " u~~ ~ ~+GN ~ I a ~~ • ~'~ 2ND LIEN DATE ~.JJ t - nm:Ge. wo!~a«, >a,cvd~c.ea a rm..m me deif~p me ~nce~vq+~ "trf°tr2 y, ~ Jam-ir.a *pND Ct ~ HOLD - r . N ~ ~~ `~•' 1~~~ '•~6IGNAllIRE OF AP%JCaNT,OR AIf)HOR12E03K1NER ' ^ ~.,1:.+ ~ ,. _ IF THIS IS AN V.~ ,NOTE_ ~(N AEA F _.__ __...~.,~,.....~ v.urrtmc nF a1l)HORIIED 31GNFJI• . ...~ ruuu I ..-r want the. title to )ri~death of one 1 aPe ! a' ~ r goes to h 'r h or e) rk ~~ ~~ - - -' .-.s:- „~ iF NO LtE-N GHEGK ~ .;. i ~~+ v '' ~ SiniE ZIP ~ '~ • ^ ~"' K HERE;^. FINANCIAL ~, INSTITUTION NO. JFNO UEN, CHECK .~ dew A- ~ .~ i ~ ~ ~"a a, .a 11 } t u * ; {h1x.M s ~ ~"p Wei r ~ ~ ~ 6TA~E~;° ZIP' . .. ~ , LTCHECK HEflE ~F!NANCIAL,~ iiucn ~-. ~' INSTITUTION.NO ' (TYPE OR PRINT) Certificate of Titte must be submitted within 20 days, unless the purchaser Is a registered dealer holding the vehicle for res W/'i R N ~ N G - FEDERAL AND sTATE LAW&.RE4UIRE.THA7 YOU STATE.THE MILEAGE IN CONNECTION +NRH-TNE TRANSFER OF OWNERSHIR FAILURE 70 tAMPLETF Op P OVIDINL9:A FALSE &TAFEMENTMAY RESULT IN fINE3 OR•IMPRISONMENT, ale• /~1: ASSIGNMENT OF TITLE ~; p'D`r°°Q'"~"` ~~~n~°I~rR'""t'n'z~AUt~7d 4 rpohd_•Y;llw.ll plgclyw I' ~ ° r~04M,ee aw ` UST f IM. a cenlN tb~the h40.1 Al Ltr ~ t 1° Idmlm r :.: PURCHASFq'OR FULL:., FI ST M.L n :.. .,I $~ terTN~ as d } 3 'a 9 ~' 'BUSINE65 hfgME ' 1 s /rS r~r ~',~ a•~ -~ J _. 1 L~a~ ~ ' . I ~ '~' n el nul~age of-thy, vehicle , ~O-PURCj1A5ER _ _ unless one pl;the tollpvy~~ ie ~ - ~ ^ RefleeU dla+alf°~gtt .. .; ,_ 'STAEEY : ._ ,. _ IiA a%cese OIN e OT the ectuA} mveepe 1 ACIDRESB, ~ (~'_-`--,~(f"~ ~~-•-• '~ ~~ ,rGe/ O [5 ~ hical A - ' ARNINO W INJe luriher tartly Ihef IH'A ieNde is 1reB of ~Fr'olbrtl~screpancy ,F: _ ~-.~r-- ). I .~. rP Ti /' Transferred to the person(s) or the dealer Iiatead~... a bri$rance ef1d that ~ awns i . rslup.IS hereby ~' SUBSCRIBED AND SWQAN +~ ~ b ~,f , ~ .ATE + _ ZIP /'1 ~ PURCHASE Pf~10E~ O TO$EFORE. ME - G 1 ~ v,r~ ~~, lJ oR DIN ~ t I' r ~ y '. ~' ~~"~ € tn' `-i A I NQOA t~ "9 A>ti' '( 't'~. t I .. 3 y ~.:~ IY r .h µ L' 1 F ~~ENNS~L Aj} 'f Tj, . ~ C,s A ' CCU-PUR HASFR SIGNATURE ~ . ` PURCHASER D/OR W ~. `f l~~'r'y~•p~„^~, t„~ ~`"s s N D RC ST m W _ ~ -~~hC~~~~~~ ~ .~`}t^7(~L ~~M~~~~~ ~t~b~'~ ~ t &Fer,;. ~:~r 13 1' ~j ~ OOtO Of ~' It ~ ~ a ~~` ~ . ~ , , I, c~ ~r 51E~ ~~~be~nd Gpunty to A ~ r . M. ~ _ y y ~nm~~ A~~ `ZQL1 ~- .-,I r/ ,, I ~' SELLER AND/OR SIGN'AT ~ OF p: 3 ~ '. ~ , h , u y B• _ OC}SELLER MUST [ t. 1 R1 • ~ ~~ NANDPRINTNAME.HERE.- - , ,Gfe+n, ~ ~ !k ~ _ ..l UWe cenf .... Y. to the best 9f my/our ~ ~ , , ~ • . • , • . • • , ~ :.. .. _ _tltet thb oiiometer reednp, is i- O y~ 6 '.:, ~ ~ ari ~ _ - ..LAST FIRST • iD' . un1eS4 one d the~llo~io ~~~~,r, I . I ~ rt iu je d~ µ+ehlde 47 P+IRCHASERDR FULL ~ ' ._'.~ ,`~ ~ .. { IR y{ g ,. I Ja '=.-~ j BU91NE95 NAME. t MI (D Rellecls'thgrarytou ..I le 2 _ N In excelsoLNi~~ f OT the actual mllg•pq•Yj; "CJ-PURCIIAgER ~' ~ IIYIa lunher,cartify ih8t i1 f RNINC., E~ptg9lp/.oi,,.,~„•,,,~ - transferredl0 the perso s ~,Ahe deal andJhet l(ie~o~raersluP Iti'6er s7aeET ~ - r1 . ,T ,~•., ~ ?tDDRESS .~ 'G $UB$C. RI - B ED A N D.S W O RN cRr TO $EFORE ME. - ~ ~' ~ ~ < ~ / - tp ~ ~ DA ~" a i ;TE ~ s - ~ ~ ,: - : t .~ Z ~ . 1 D .~ ZIP. PURCHASE PRICE iD :Vt .,~. µ ' i ~~ OR DIN ~. 7 A flE JDEii ~ rERINO' ~ Y~ 8 ~,~ Y ~ / I { < ' ~ r ke ~' PUR~'HA$ER SIGNan t = .1. a .r ?: ai ILL } r ',,~ 'PURCHASER AND/OR C ~ CHA R NATURE ~ - 3 ; ¢O-PURCHASER MUST ,,, 61 H N PR "'¢'' t"' "w' I v . NA EI t. Iv Ter +~.xr.#y fp ~,` o X r;rat s S a ~ . '~ it r+ • t ~ s'.- r SIE,N~7SIRE OF ~ ~ ~ ., _ ,.'~: '~:~~ __ .rSSL1.ERNtU$Y 4 ,,~~ * r t~ ~ 't~ {~ ~ Q pp, ~s H "} c O NAM ~ .... "°'"fre I/We cerflfy to the bast of ~ ~ • e ~ ~ E • R •: ~;__ ,. ~~, < .7AY/our kngyA tlgr.IDet t ek reatllnq g>., m rcr ~ a . S ~- •`•`"~ °" ~ ~ aI mlleage'aUte Nbhlde' ria. ~ ~ LASr ~ FIRST •, M.(. - m unless one dY „the ~41~ R~~~ +' :: t ' ;, NFF~S W u~ FUl1-=~^ ,.. i Rellecte Ih6'~Atouq "i: II •, _ ~ I an excBCe Or itc+ I OT the e~pyl, ° 'C4~AJRCHASER •. ~+-- , .. IM's further cerllly lFiQtl ~ RNINGyy~,~,~,,, T~"r -~"--'--~ C uan•femtl to the ~~' dttliQ a le t ~ ,ate that t, ~ n~SCrepency, ' pereon(sjrytme~tlets L led.' w PwnereMp IS'herBD STREET' i SUBSCRIBED AND SWORN ~cni' j TO BEFORE ME: r - r ti cD Md y~* ~TE µi rn ~~ ~ f;, n - a^~, 41 ~ I AP ~-OR DINASE PRICE .-.., ~ P ..SIONA ;7 ~~n 1~ ~ ~. TURF OFPER ~ I( ERI '~ ~ Dl _ ~ 11"~ ~ k n "ro ~ ~ ~ .~ a'"'• ' se ti~,• I i URCNASER S NAruR y 7 ~ _ - t f ~ ,rr'llfa~HASER AND/OR - O PUI~HASER SIGNA RF I ~ ~ ~ 11 ~ {' .l ~ ~rF ~< CHTNAMMUS RE" rw ,x t2 ~ ~.1 ,i'1~'e ;7~ ~ ~f. N 4 +n , i u i , Bk. rn ~ ~r " .. ~F I r ~ ~ ' .,:. " SEU.ER MUST - ~ u ... O • - r ~ • ~ -'NANDPRINT NAML'HARE ~3Y,~1 `"~. ~;ry, H IANe comity tolthe,bpcl bf my/our:gpyyrgg • _ •• GA tfial-the odometerreedlnp /s ' y `, gENT11 OAST `c n I nd~. FIRST • ~ '."`~! Y 1 r-~-- ' kt• a al rnde6~e oV+1f'~~V6tnCfB "" »L~RCHASER AR FULL - ! M.L ~ I unlese.one cl the lollowing bd e n _. I ty - 1 ~- 9USINE$5 NAME 1 M ~..: SI~e amoup~ qft ~Ib R T ~ ~ `~ 'IA excess.elFYfs OT the~pduaLlt{Jlerp9a ~F ~p-PURCry,KSER ~ ~VJe fuMf6rcertty that~lll "' ~ ; Ic, .. NING kk),orpejet disc! n _ IlranalerfedtotheRercoq(y~~or,uiatlea andthat{~dw~~l ~j"d.Ef' sipEET ed p Is+ e ~ y,_,v ~'f. ~AADRESS - r ~ SUBSCRIBED AND_SWORN ~ ' 'cRV _ N TOBEFORE ME' .; ~, ' o ~ ~, `- _ I ~ .~ ! ~/yu ~ - X~ ,{ c'~"'~ rc-. ZIP -PURCHASE PRICE _ _ ~ OR OIN y F ~ .s _ k ~„ ~ + Ip 91 NATURE DER ~ - - 7 t F iy~~_ ~ PURCHASER (GNAT q C o PLRCHA ER ANppR R HASFR IaNAr IR I ~ CQ PURCNASER•M ~ ° ~ -t d NANO RINT-NA U5Y - t , 1'e'~r ~ C ~ t t "~ x 4 Wr 1e41 F x = ~ g SIGNATURE OF g`'fyy ..i w /~ u~ t ~~ ~ ~~~' kANOPR>~NAMEHERE ~ 1....:~'~ ~ ~ ^ :rt:~ r .~ N T O ~P..L~.SECTION n .r1TrTU,. ~~~„ _ M'Ak (~1'rl~S~IIIN11 ~Iwu~llyalCA1'I'KA15Al.SJ+;~2VICE,IN('. 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CCnn VEHICLE IDEN;fF ICA110N MU?nDEH ~~ o~ /~/ /~~ 5~~rp/~~ r~ ~ 17~~;38. {~~I'7,5D>r ~..-M JL~i Y ~ ~ hegt~` ~ ~ k k~OF~t~1sleL~~,~r ~ ~~71T11-NUInHER ~~ 7~ y s / r r : `/ Booti T 1~E- J •' oUp 5EA7 eAP ~ ~ ~ x 7tt`' ,,~ 'tJN1,rAD~µ'W ~¢,HT s C~~YI'R %.w GCwH, I~ 1iE B{3ANDs DATE PA 71TL~D , - DAtE Q~ ISSUE ,~. ~EyRIDR TIFEE STATE ,~ ~6 ^ DA'CE' / ~ 0 ... ~. +" . /,f ., e ~Q~Idlr~$., ~' i'1 "IIGOM $T.S1'US .. u ~~ ~ ~ / t ~// r,.. ~ ~ r ~'' QL?QAAFrTEA STAT{}S', / ~;. 1- nu~F,AGE~Ex6E7 OS ~TF{EMEC~{6Nlcr~t. ~ ~ ciuas ... - , _.~ k. ~..,..-t.cs'tsaf:~r~r~~.~,:ta-fi:'tw,u=t.~y~: ,'r~,?.t>r k~;3Nt37:if+EACrun[ iilc•~~~E , % <; - s - 17E'~tHE Aviv ~S'+:~ICeaCe oooinETER -4 T.F%EMPT FROM DDC1MEfER DISCL,CSSURQ "ODC~IET~R DISCLOSURE EXEMPT 'BY' ~ FfDERAL LA.W TAMPERNGYE ~~ ' ., REGI57ERED OWNEF~IS) TITLE BRANDS LED ~ '~M DR R.I S~N .. .. ...._ A-ANTOUE VEHICLE C G> LUSSIC VEHICLE :. ~~~..j$$ 7~ F -' OUT OF COUNTRY !` :~ ~SZ,`< CL~M,SDN DRIV~ ~ - ~ ~ ~ .~ "' - ~O~-ORIGINALLY INFOO. FOR NC4 US ~ ~~~ - C A ~i !. I S L,E P A 17 D~ 3 D18TRIBUTIDN . H-,AGRICULTURAL VEHICLE - L - LOGGING VEHICLE ~~ ~ ~ ~ C> FORMERLY I:-POLICE vEHICtF„ ~~ ~~ R-RECONSTRU;TED ' ~ r 9~-STREfT ROO - .. 'T -RECOVERED THEFT V6HtC4E;~~. . V-VEHICLE COIJL11NS aEISgUEpVIN ~,. FIR57 LIEN FAVOR OFr - -~ %- FORMERLY A TA%1 - „_ _ SECOND llEM€AVOR.OF: - ~ - t :~ .._. ~.' ~, N a seeontl Ibnholder is listetl, upon sstistactbn.of the first Ibn, tha first lbnholder must .forward this Tills b, the Bureau ~of tvtolw VehiGes with the "FlRSi LIEN RELFASEt7,. - ~ - approprlale 1wm-srW tee, i .. DATE _., _ .. - . BY +, ~: ' p AUTHORIZED REPRESENTATIVE. ~ SECOND L1EN RELEASED-- ~ r .. ^:ekr.;-...,!.~{i'C"~.r..c_.L':~l:~s'ti:~"--+'~'>";NSYtax AG -- '~'...""""__!' ,y ~~MAIUNG ADDRESS - - M~.,rk r~ ~~ ~'~. ~ ~sI ~ y'p~ yr'~' ;~Epj~E y T~R-CE '„r LEON C MDRRISON • R ~ .~ ~,~ j 257, CLEMSON BRIVE y''``~ .%*-~'>" :s ~' . T CAitl.ISL.E PA 17D13 ~~ ~~~~ r / 4/~~ I ~w U ~~ /•. ~ / / / ~t " ~~T ~ : , pry , ,,s / ~ ~ : ~, /'. ~~. . „ r n ~ '?{; .fir:,,. , / , '` ; -_ , /'. ~T~ L ~~,i~cr;~~r~_. S it ... ~ 5 / ~ ~ . v / r } ~ f rr '~1 certify as W the date of Lssue. th8 oifklaf recOMt qt 1(9B~f~BM$y~yerile "QBperN g~ n~' ~ / s .~'!y/ R, ~l~7[~ ~~~~~',~' ~ ~~~ otTrans t °s ~ ~ .., por atlon relbG¢tfael thepersortfs)wCDglpaF,y nArrr0l3 reNilsfR~ ~ fth i1 d"v ~ ~ f .g esal ehrob i . r ~ g y~Ak~'~~"rv '~~ 1 ~~.~~£./$A9~7 .,k. ~ ,,: 'w-• S s1` ~PHR9yDI~/ 4 ~s ~' U ~' / .. .~ A . ~: ..~ :I i rr ~ 1 .N ~ ~ ~ ~ , • • 1 , • r'. )_S:s ~ '~, 7 ~.. SUBS(;RISED~AN6 SWOTitJ y / 4ti .s+yl,y t4 ~, yf {, '70 REFORE.ME f % ~sr^~,~~'; Y~~y,~iv,S'r ~ 6` f r'~ GLf .. 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J . _._._- e bt the{ I~B`-, - e ~ ~f, ~: c ~ ~Ile'a~ ~`' + a u 9 ~2sTRE ~ -~~ + acts• a w ,p ~.. b• Aiy~Rxcq B b ~ ~ !h9 OP ~~~~- p 1 _ .. ~ ADPf~s~ µ~~~~ J ~FF CITy 1 (d the Pa } ded~ Ml ~. ~.-~-~-` PuRCHASEwPR# E;~ ~'. Eb ANf~'6WORN •YEAR"~ sif~~k*"":,~'"' W. .r,6 w _; ~ t. ,$~~E Ali ': a'pAF ,. ~, , .' ~. ~-+ .. Y~ •~ N'~ UI~ f ir+' .rte ~, .~~ ~ ~ ~ !'I ~ •I r ~ r1. ^ ~'~' ~ Y_PURCF'IASER SIGNATURE- yr; ~ 11•J' 11 .,, s ~ I .E ~:p~7FR 1~ 4Ylj rult t tN [, ~ .~. ~ ~~ I _`~ 1(. r: q -. . . 'S1GNA7 U~3E OR Pty 1 II e l' <, ~. 1E ~, ,. .' ' r 5 I r1t ~ F r .~ u '. ~ a 1 tl (fiI 7! I4tlll S`+,C~ q y J-CO_--- E'UFIG~ SI NATURE ~ 1 "h f 1 I r t ~! ~~'II r:• PURCAASEA ANDI sy, '_ t,J I , , I~.~R~ >+ 7 ~~ t - ~p Pk1RCHASER M~~` I . r !< r~ v rt N RRIN7N #AE E 4 a ~~ ( 1 a ~~'SJ~ .l L ~~~ e-1 . ~ ..-7 { , rrn rt r ~ ~, r .f~ ~ _ 1 c t ~ '~'!" fr .a~Y v(i } ^ y`ti?. ~ .. '':, .> ,; ' a' F • ~ ~ ~ t t~ SIGNATURE OF SE s R r +~~ .-.. ~ : --------rr`, r r ~ .r R:Mtl57 ~ ~ T7 t ,+ '' 6 ANQPR yr Nr~ME HARE ' - ~ ~ ,s T rZ~ G E F'AX (71))5g5_.pINR l i ~+nu~nvlc_gYl'itAI.Si111S11{YI(:j~,IN(: lul'Cp-vln.~ •.. It! c a lua(glrulrxhlirnlylr.CV111 - /I tl1[1 ~- 111"111%y f'.r 111 )n f P katl llrlarr• Adllnst; d3~16- l.inl;lc.lnwa Itwnd rld?ISIc~ - - _ Ihuli~bur~,._1'A17112 ~~ U1i'NI a I'Lc:ltjvl 1 till nlorr;u lamed f] 9! . .S~ , rar ,. n~„wc 7~ flfSr ~ c Iginr„ - d ~{ In.NHh,L.t'11.1'h6of;p w - - 11,E 1'ikh lr rxX)I~iU~ < . - 1~•r:,t r h~ 1 r TFtt 3 0 Ak,•Ad~'1 Mn ff~yv/></¢%'~j¢„J tln.l~tifr6: +3~ '~Cl~It/~ -- •- - Alils„y~-81 Z S 3 t IN1~111Q vN. ~f!~l. L~ / - tbM W I{l'-iE 4, nww: Ilulxa;l„u, L1><ullun t_a1Lsl ~1! • ~ y yn c,~ter - C d ' - oVR.u.v,l. rVnl)1't'lt'In _ _. an :lrt -ti~llJra M~11r ~vy _ w, _ I'I"Nle,..1./~ L44-JU~111- ----~-. - ..._~ ~ahlr, ~klurer __ ulll!•r .>, "nldr k~s I.wNI Ftil hNU,N:,,~~tn,,,,,n I 1 R. ~' ~.nr _ l'untlilioaC'lu~v ~ Sla1L11a ~'`~ -_ _... YIUL' ~~ ~'T`" 1r1••'"' n It 4r ~ p _ 0 _ Cnlnmrnlx ' INa,1~r ,~` Mwiw,~rnl fl U ~ ^ -^-`- llllNi,.l l ~InLlµ.n ~ 1~ ~ 1.1 _ _ -,__ 11{r4y t11lAN11 11:11110 -... •~-....- ~IIUCCII L1• _ 1: lromaiNM - Il F' • ~~OildlllOlt (,1l/SS ~~ . SIIIIYII \'ylllt/! . ~ • ~ ..,.,,.,,s -. _ --- - ~' - r _ I NAnlt: .1UU111:Y~n_. -- _- - -- n4~r~xncac ~-/ 7 ~'~ ''• PuQN,• K _ __ NAhlt~. _ _ .. - _~^ ' AI ra H1l i~r; ~ r l 1'IN~NIiR _ ...- ~ N.1M1' SA 4l~:.ti TAX ~" A1Nu':tiV~ .. - 11~ ~PIh'a1-u1'S Licrlu . Ne._ f~J.+~-9 ? <:v to ~ uY (hrner _~,~ 7~0 "? )n~_ C'empruy -~"~- - _ J~~ ~G~~,c t~ ~-~ f 3 V it r ~ v 1, ' , y t~,~.`'',;F~ _ ~~~x~C 11 R~`°~ ~'~ O F "'~-~~TL~ ~C? .fir ~,6 ~ a . ~ ~,~ -~----~--,..=.~- -~t.,._ h, ~ ..A J '_ 1 ~7 , r tua jn~ ~~ I ~~ s a ~~ e .~~+r. n,~.~? el ~- r ~~ ~.. .a V ''J'y~ .,IIJ ti ,- -. .~, ytlP ~1Y i y ~ f!:trNUMEER© +~ ~ 4 ~'rS~y~~`AP I + ~ >RP r 9~~~~ ~~ i c ' 7/~~/L~ ~~~R'~~~ i+~'+~ry ~~ILE •ODOM~~STATUS T a _ DATE OF ISSUE _•• uNV,D ••• ."" "'' ~ °~' EN WEIGHF G~,R.,•. .••„•• 7 ,1 - GCWR.,• TRLE BAANOS x 1r; y 7f r ~ I ,.` G. ~ ~f A d h' ~~u ° ~ TER $ ~ - S r ~ r r F ~ ! ~a` _ ~t '~ '.k~. Y ;lP~' j' C 3 ~~ ~~ rl nSi ~ L'~ .. r2 "fit ~- ^ 1 _ r~..::~.~ . N M .s ISTEACD C•'vy- hr t . _ r .: TAM RIFIE D 4 ~ ~ - d. r~'~~iti,. I~~~~ ~:~~~t r'^. }..~~{A R r ~ E><EMP QM ODOMETER DISCLOSURE ^ ~ ~~ >r J `4 . s.3 ~`~ e IM ~~ rl ~ A: ~ a~ ~~, ~t~.y fn ,tp ~' ~' s C ~~x~G» : f^" A c+j,"~°. ,, ~~~^-~'9~~)~ Iti~.. ~ -l, i ~ ym r1 r fl ~, ~ ~ ~. j. ~ ~ ~ .~ 7fi ~ it ~'~ kt>. 1 `~Y - :. u F fl M'O~ 3 + x a ,~~ ~ k l . .ALE ry"V 5 +~ C r ~ ~ ~ ~ w F - ~ L. L ,YEHICL • ~ +,i ce d~ ,~E' ~Y~ r r~ ,~ P ISNJA<~.POUCE VEHICLE 1 +, t v` a t~ F~ '~ ~ ,~ 4 r'~ 7.Y, ~ .y ~ e -~TREETSR6UCTED ~ , . I ~* V.,, ~ FI - ~.- ~'y Y ~~;~~ '^ a ``t. 4 ~G7VEREDTHEFT VEHICLE ~FAV d ~ ys :d ~~` ~ ° Y~ ~ •V •VEHICLE CO ~r :.1~ iFt~ T ~ NTAINS REISSUED VIN - ,~ .fit ~ ~" I ~ E ~r ~;W P100D VEHICLE '~ ~ IF. k x f~M'AS PTAXI - ~ ~ ~ , tt,,,, ff 1 x~ 3 '. n o N~ 1' 1s LY,~ ~y'~ x ~~..~ ,1 of F q, ~ ° T~98 F„ti. U '„ h x~Ti ~~ k ~~.~ha~~~ ~ ~~y IsIeO '~ ~~ FIRS~~~'S~D.-~.dt~ l ,I,: ,f v ~~4~ ~~.tY c > ,^, ~O ' r~~-~sJ^. y ~ ` ~ ,. ~~~r~' ~rwe Tttl eat W I t ,'r~. BY lu ~~'~ ~~~~ y~~ cy{c4a~'eE~~•~ ~ dj, _. .- ~~, ' AUTHORIZED REPRE$ENTgT1VE • SECOND LIEN AELEASEq - ~ ~ j~ ~`~' MAILING gDDRES~ --- ~ - • ~~ _ (' M J!l!~_14JU~ ~ BY~~ f~~ o- r. _ 'LEON .C 'M ORRI ~Ci Pj -, AUTHORRED ~REPRESE:NTATIV~- , I 2pS PAf~KER ST APT L .CARLISLE PA: ;Z70~+3 f. ~ - :..' a z • ;' .. - ~ - - ;. _ { f' ocerli _es ot_the date~of Lvsae,--- o - - . f H NO_ 7rar rta Ic141 OCpf tt ~f ~• on reflect Natth of the Pen Par1!iiBi14 of the- " yMMe, . P: Paraon(5) or,o ruvlvenla De A L L EI L' v ,.. .:: - ~. ,; - owner ', ....:. ~, I r~~ h6ra,n h,~ IaW(ul • D ' BIEHL~ER 1 + .. r .,, 1 ' ~ 1 Surwry ptTnnvpoLYatlon' 1 ~ f _. ~ ~ f 1 ~' ~ - UBSCRI6ED gNp,Sjjj SRN ~ O E ~ ~ y~,, *~ ~ IlsledB ar ~TftefJhaq your BPDUSa rs~tstertanti yeti want.me.une to - ,,y~ p .Y .W~ ~~t ;~ `%r-. ~x~' rrp ~.~~~~~~arl~k~r:~Q~~.•~iR''+I~~h~D. l91L,de'~iFriM nne' rl~ ~r~ . y., K 4. - ,_. k e 7, f~, ~.:~ ~ ~, fa r p = ~' i:n. 3 AG E f~ '~ ~ ~ ~ h ~. r ~ `~ A~ K~.~ ~ _ p, n for1.Cnffirs}ws~ r. . ,. *. }'.'y. ` .+r;:c~ i Pf ky N4V Y Y ~ X ' ' t C L ~~ 1 7i~ v.'{ ~~~ d °"RE l7F}~E1CMfT'~T„ufrt,~IZED 5 ~ Z `y ~ i' -, ~~SIGNATUR ~~ OF C0.MPCICMVrrFRIEAF ' .. - Pp~Di Y I X10 AIJTHGRV~p SIiONEq .. -. ~~ ~ ~-_ r ~ ...1 li 4 4N ~ 1 ~'R~'`- P a /p. ~S l l ~ °z ' 3 '~~' .S~ii7E ` ::y. ly ~ ~ r = ~ SIP K HE ' 6a ~I Wg71YI~1gN HO' ~IF ND LIEr~CHECK; ' rte: ~TA.3~ tk ~v' .yr`'a~', -.-M ~, ~r~k (~`. r ~'- ~ s & ISljN ELT, CHECK HERE,,r"~.. fINM FIN~REdUIRt=n'-=- l~ I NNO..~ ('•A\ (7!'/),ridS~hMe I I '7inx11JYl(;~I'1'I~AISAI.~LIZVIC'F,li~fl'. Ins.~u. ludc oRt]elt[ ~ C II gIM/H!6l:lY,tllhC1t I111GCR171 dtrtu - !l~:relry !.••;gttrpuu:nt - HuRte _ Ailun~~ -- -' ~-• i1~49 E.in~,I~Rlnwn Koad I~dJustl,l~`'- l l:u,•isUur~;, I'A 17112 rIH'I+t;lt h~otilL:U11~~nN1ut11'U ~' ~ lny,l .~l O Cluvm,a Cl . 4' Inwlrauve 1'n. ti.un Nv. f~Cn ' _ It1111y hilYk _f ,'4f.itf - "~l'IiJt N v~/.~J~Q.C'Q,C •t~29.~ ~(t •, 3 Y}}' .~ ~ r~ Z- x Z. t I _ r44rc nl,. _ _ c„I,. - ~ ' ,~1,~ adT rlvepit7roll Vr:Yrr 1[Ifipttairal I,oclttion (;:ulislgJ',(~ ~. - .~ ._ IallJCt timud~- ~yla:uy +.)vlittnt,t.t'utVl)1'17(iN _- _ . Phu11C 1 ~ --~' ~ 1 ~ ~-04-9U(~ " ~ "-- - . 4nL11. 4uurco y- OI+II~I~GuI(le - Illc t;wHl fail "~^~IIK,„l I~I w,un, Pllnr l_'olldilion f'lllsx •-- .. _ _ Q ee:- r ~.v.rl nlcwl p p ^ t~ ('ulllmcnl~ -- _._ N~nnl rl ^ 4 lY -- - ~'-- - luh•lulr ~[ ~uuinu n U tJ ~ Inclel Vulaa:;uurcr . ,I,t.•tnll ,_~ I,I 1: n. ul..,„,u ' '- t..ULt1ltiAll tai\\ - Stu(rd \'111111' '~- ... .. lul ' a..m~nm !< _ -- _ _ UR : ,l wm+u.~l_ (. p111i11CgtS w. •- ~11~I1N11I1C111~ ----• ~ 1 hn Mif _ _ .umkn~s .. ~% ~ ua hI U1P,F.fl -„ - rn\lrx~.n - - - -- --- - re'rt'nl. '~ -w. `--• --~~. , apt>rv is«; '- ~~y~Uill C: ' a7 /f pl q I'A A)/pr:litrl~ Idel:nxc No. / .j+(~ ^'~'~~ C'npp to Illrurr ~ aS~Gp Enx. (Junll)nlly '.~"~ S~~(~ ~- r C AST r ~~~ ~ ~ u 3 .. >~ ~ T " ~t ''~ .~ - ~>: ~~u.' ~~..,;.y ~ r ' ` ._... .~_._~ ~' ___ ............................ w.. _.~~ ...~ P J P ' ;.. - "9Y~'T-':~:_ ~:~~ ~~ ~ . :::'E'.w':°•'M_ ..~.r_:~,~ .~.w~.r.. I~^ r 1 ::~. R~ t YrftE ~NDS ~~ 1 DATEOF ISSUE. ~ UNLADEN WEIt3HT ,~' ~~ 1 ~ f'C~R '.;.~: DATE PA TITLED I ., ; r , ,, ~ ,_. w ~1 find 5. ,. ~r ~• 1 r +lls i {}~ r -5~3.~ ~~ ~ x~J£+`~ ~ ~ a._A ~ ] ~~`D AL' ~~ .nL. '; 3 sfrryy -: ` . r "' ' '~~~..~ u r,.a'~r~. +r' ~C; ,.%~~ ~'yk{:'~. -5 r' ~ , ', ~~ 4~EXI:IapT ROhC QpgMETFRi DISCLOSUF7E r~~ ..t F F X "' x ,t ~F ~ F y~ ~ _~ e RAL lE p '97 fan ~ "k ?R~ O~ a~ ~r '~~ , L L VEH[G _ Q ~~~ - f ~` r~ ~ P R.15N{I.S.~RC~ICE VEHICLE 1 'r~' ~. ~ • ~ ~ I ~` t ~ , - ~~r, .yx.Y ~r ~z f; _ _ - _ _ - 1 ,~^ -'.~~ a ~,.~•.. ,I~. ~ ~~ a~ ~~ t , _-.kf~ ~~~ ' i - :. !,'. ETR'S RE 1. cps Y,~;l~~ IYirf ~ r ., ~~~~ e ~~ ~. . "a BY~ -~ ~' - SEL`dN4U~pEtfASED ~ .._ l ~ ~ AUTHORIZED REPRESENTATIVE - DATE MNLING ADDRESS ~ - .,- - ~ 8Y ~ "` " ' _~ AVTHOFXIZED REPRESENTAT VE D39fl3~ _ ~'.° i _ ~'{3 .. ~fl X '7 {# S PAR ~R `S-~. CA~2~ISC.E PA ],7©13 ~` - ~. .~ ~~ ] t : ,;~ • .}~oertHyCas~ol the deteof Issue, Tha ot6cral records of 1M~Permeylvbnia.:}le A~t{n56Fe ., _: _, h of Tren9portaUon re4ed iftal the person(s) or corr>pany rmrmd..n~relrcis;ma:l°'bE'Fd"'^e.~j ot~~rtiu rt~Ua0. p~ecretary` Pe . ~ ~ .. oCthe sold: veMCle, ~ " • - `' - z Y ~ ~ ': >. s - 1 ~• I 1 ~' ' 1 1~ ' 1 • - ~ ~.?~; ~°1f'1aj ¢ F¢~ader'Mher BhaA yuurs~:[s 1s 9 d~ld~you want=the trUs u#~s St16SCfi19ED ANP`SW .RN '+'; ^~g ~'~'9 P_T.entsnts ~f13 Er'b~ ' CJtship " (t`de bfi~ S y~~ - eml ~C Q. `' ~ _. ~• ,~ TM ct w i . y _ °F -~~~ fisr u~~Ln ..~ a ~ E R KHERFt:,f ~ ~~..-V• t6 - ~ ~ ~r"'1,a~'p"'~4 A IN ~ i a ' ~" ~~tt ~ F NO.U £HEC ,b',G, ~17 ~ 3'•Y -,r ,i m Ta. ., ~'r r:. ~ a E, w:? 0.t :7r tr 5Y - c.. fir. ... „ q ~~ ~ ~9 ~y ~'~~'^ .'S~ 'tiSSAe O ~" L4'~ EO S(ONEft" ~~ ~ ~ rSTA , L~F' .., C - - -- _ --' -'~ IP~tI~lBJ~th4~-'F;:CHECK HEAE~. ~ ~INANCI/,~t- -- - .. i _.._ ,. ~. _.. - ..:r,., .,,e,+,••~,erA:wd~0lacn .. :iM6[Ttl)ITEN+T'10.-~- ~.,~._.. - rq~ (717) 5as-loxK .~ 1 ~,rwuKle. n1.1•ltnl~nt, tiL' V .., . _ , ~ ~ ~ ' !~ II:N:, !Ht`. lnc <.'u.vlntlcMUJQn~ CIAl11tS(yf)IILI'Blhlcarjll CVr11 illuu - l~le~tn~v E'f ru n ~ 1 . ~• ~~ . ~ ~j rlertr- J~(11111f: Addrps. dldt) LinklcaknvlT ltuacl ^f1;~.1'~I• _ ~ ~ ._ f I{u'1 ishurt, 1'A 17l 1 ~ _, c ec(,c~(~ ~ r114 NI if tilall: ul ~vn hl t u i Imunnl rd" ~ 1 "Yr-l 1 S { ~pt7 r.:v, 3t elal.~ ~Z~~EBk~I~C~ (7N><,n.d ^ p+r~m4,~~1/. _ 1 tn,l.l ~+., a - „_ 1„44r,1~n I11•tlliui_~n Q ~I,.w•I S`~0 $4Q~ ,~,I,,U 1. Nik 43 ~z - _ . vgc- e- Lirlxw; NI 4"T~W4 Sli.kcr Ue.pl,•Ifuu Lr~tiou C;tlli;1~~~!^ _... _ _ ._ 1'uuincl _!~:Igdla ~C.~. r _ _ Yluloo-(7(/1147..~11k~ - t1YPae.~1,~C1)NllCfltlry .... •.-~-~ - ' -- ~_ Y+tua bootee OIdur Cn{ ~ C.y 1~1P Aµ Lutnl F un' it4myw~n R: f'Lmne,. u ~- ~ , Pwv ~ .. - c.~ L.'o1111111tl11 t, ~1i1N5 ~ S(il(PI( 11111IC ~ Rls 1 Mrrnl r. a4 u ~ ,_ OI G o Con{mcnlr; P,nw C ff1- ~ ... .. ._.__ __~ U u uilr4~Y ~' .'Y LI -_. .~~...._ I.1 ~~„~ Ali-NMU,.c.I ~ ~ u rl IIMI->. FIUANU VS{luc?if.ur~l` _,- ,••. I ~I~ ~1) f,'lIC4N44..!f - 1 ~.UI{d111Rt1 CtrtYy .. . ~. - ~ tiia1r111~IOaC ~~ 1 Y - Y1 I1Y1u441 NfIF _ _ ~ •~-- _ t'k _•It 0.uc~ul~u1 Ltl11tn11?1115 ^ nrn!_~sri c)uc)~i`n~l~loNS ~ --, ~ 1 Nn All ~ - -. __ -. .,UIIRI:SC ..... -. ...f. ~ AYIi.RA(.1; ',S ~(• Cr I'l It •'JI~ ft -~- 2 NAk11; -~ •--......-w nuuul:,;~ i ~ SU133't)'1`Al. r ~~ i; ~ rutlNl~. rl _ -- __ __ - - ~_ ~ AIII IN l~i1 4 r(~/~ Nf,Nr p /~ tlpuralsei. ~~ ~~4'-.•• I t1Nlc: ~~?-e~ o I'A A1111h1isrr~ Lirlnsc Nn. ~ ! 1-irPY to O{r11Cr_~(r~'4~ la'r. (:qugl~ng J~~ -i/ ~~, ~~,R~~ C~=A.~~'E~OF TITLE.>r=OR~~4 ~ ~~I~r~ ~ ~"--~----R ~ ~~--~ ,~ ~~~ ~ , t , ~ ~ L ~ ~ a.r'ti. r ~ ~ ~,w ~-I J 1 L ,.Wi. '~ ; alt:: - ..,.,.~....,,.w..,.~ ................._..,,,....., ,...........,_..., ..,.....,., ..,.,.... .,~_..,.,....,,.»,.,_....,........ „ ,,,.w,a..~„~b.~r~,.e,,,,»w~~~.~.~~~..,.,,,.,r r„~.,a„•..~~.,.~a..,.~,~~~.,.,,~..rr„ .~r.~.«r~,~~~.;,•.~r~er.re~a„~~,n. .....i..-.. .,... .-... .~v:::.~.::.........~:.:.~~:r:.~~:.L:.r:~a~r.::.-err-r_....~i:ru:+ w~ ~~ ~Cd ~+. '~ ~]r!•{ m~ ~~~e nl~.~~ '.F'' 'rr'yy - ~ .~ ;i~ Q. ..f V EHIGLE IDENTIFICATION NU/dt3,ER ~"f~. N~' I,~y'~'~1( ', ;~ s ~~ O u IrEy~ '~ T/TLE NUMBEq,T ~;~ 'a'74rn ^~ y3~y3== ~~++7~ ... ~ ~ ~ ~T~ ..~~iy'tt~~ff wwy~lylr~S ;BO[]Y TYPE. ~- DUP ~ -. :SEAT GAP ~T TI * O~~on~ P~~ci~~p~, OOONL'MILES ODOhd TA7US' .....,...~.. - w -::, ;: ~ ~ ` .DATE PA TITLED. DATE OF ISSUE ;UNLADEN WEIGHT -GVWR I ~ GCWR 71TLE BRANDS I ' e ''!F'' TER S ~ ''x'z - ~ o ~ 41 x } ,F9 t+ ~~C `~,. , ' '4~~an4dll,Y r . ~• L MI' E . F r 14,x ,~D~~OM~TER ~DISCL4SURE: _. s ~ ~, ~ .ERAL LAtd < ~~~"~~ °^~°D°M~ ~DISCLDSURE sTE~eD ow T r ~ ~ ~- _ ~. t~ Ic ~ T '~ C ,~ I S QM1Y'~ (~~ i. f:58fi ~~s ° .~ LI. 71.. VEHICL ~~ 1 .i P- IS/WAS A f~OLICE Vf~ICLE ~i~k : rrl d r.:8 A" ''R. REC~fyuTRUCTED . ` _ -: ye .~'"~~Fix >•k'dy ..~ RT a`.~" ~k -, T A OV~Ep THEFT 4l:HICI,"E 1 " ,~ ~6 ~ eti y ,-R "~ V. VE~ICLE CQNT/JN$fIEISSUED VIN ,: ':• 'FIRST CIEN.FAVOR OF' ~ f ~„~. , ~' ~ZF. '`W ROOD VE}n0.E , '~~~,,~J sEC~~~,~lEr~r<as~y~?rRb .. ~ x Is~wasA~l ~_a; ,: ~ ~ ~ - ' ;ter y,°Yy~ ~~ ~ ,; ~~, wf " -j - r 1f a sewed Ilonhdder Is ietadi~l'Ypq P 'w ~~~.{I ~ ~ i h e ~ fl~gt IIeF{~ e Irish x~3Tl' ~ Ileneolder mual lorwerd tEya TNe',(o~,N ~rsa~ „Molof~.phlC~, ~Lhh ~e i FIRST LIEN RELEASED ', gppropriai to and tee - ~~, Mb' o,.. .~ I ~ „~ ': ~~ ~3 :. ~~~~ . ,DIY ~ SY- - - SECONO LIEN RELEASED 'AUTHORIZED REPRESENTATIVE 'DATE. i MAILING ADDRESS _ - .. .. p BYE`,. . E _ a 3 ~10 •J' ~..', ~ AIJFHORIZED REPRESENTATIVE ~.. f . `LEAN C ..~MORRTSON : ' .. - - ~ .. _ 2~~ PARKER ST 'AP1',.1 ... ;.. ~ - CARLISLE PA 17;D13 ;.: - ' ~ ~ . , - :. ... , _ - - I =; - -~.-osltny eY.of-th. date~olieeue the 4tQyel rxortla::of the Psnnsylvanla ~epprtnSertt ~ ~ 'ALLEN D~..:~BI~.Et~LER. ' ~-a TrenapoiteUOn refbtf UIeC~Uie person(a) ~br Compsny:named hwsk,4'~k the lewhrl,.otvnsr ':._.. ..... .. ,: Secceta ' G - :.: .;.. „~. d: ry:.~fTcartgportadart .. .:. ~ '' r 1 1• 11 1, - 1 .SVeSCRIBED AND SWORN .. ~ ~ `- ::,' ~ : ~ ~.' ~ If"-a ;cupurChesei othe{ than. your'spotisG Is-.listed-sand ya,~, ~enR~the~title,to T EFQR MEt • be 'listed 8S ;Joint Tenants. With .Ri Y~of Su Vorstilp" . O : deaf of one ~t !~"' ~ ~ .~° owderF6tls'~peg to surviviq `' HE~ _ p; 'rwl - 9'. ~ "0a~ r .. `s~wllF bg,oiesu6d~s-'T®narlt9 a. ~ih ,.~( - s On e t =• ~,iti('F V,. "X.:~+ ~ . , d.cee ed er fl ; s.tv ht ~-h off- ~ Ip. E- ... ~JF-~R90N BTEBI x• TH uvn ,. ._ k, 'x~fm^ r` *-~t y, ~ ~.~ ~5 , ch1 ST LIEN DATE.:. . `~i,{~t` ; ~. ~ .~ , 1 - ~ L H ' ~. .. ~. `:f -'~' ' 1ST L"IENHOLDER ~ _ l T ~'t.~ ~ } STATE ZJP~ - F 'C/I1E~K HERE {''~ ~ FINANCAI " -. ~ - 1~ " - ~, _ - NO ' °' IN ~ REtr' L:,.}- INSTRff,CION NO ' - - 4ND LEN DATE• .•~ '`IF NO LIEN, CHECK nie w,aar.gn~a r,d"reoy tee eppWpUon b C~nmr3ti'-el . Tn~. Iq n. v~4 waoaW ' ° v -'%I~ +IW `i";,y .^ . ' .bow iubh + m uv ancwroilnas. em e1Mt'NperaJnv xf artRnere. .> {_.; y:,,.~ r AND kILDER;. ~§;`~`z i ~(t' r:~#,. ' ..,, - Y r„ ~r I~-.y STREET _ _ ~*t 1 ? '~~ ~1¢-~t~~.:~. SIGNATURE OF Ar'4UCANT'OfLAII[pOgIZE061GH~R ,,,~,;. ~--'^- ~ '- ~ - :. A S :tX ..: IF THIS IS AN ELT,,CHECK HEgE ;FINANCIAL - $IGNATURE OFCO•AVGLICMrT/fiTL6 CF AUTHORI2Ep SiCtrER'': NOTE; J-`IM:REQUIRED ~:~~..INSTITUTION NO: nnX {7i714~g~pHH _ •~•t.ou~ra n.t•~sr;,11~A1.,l-j~rl~'I:, 1N(:, tUa.Cu, htrlrl„~ndrnl rlaiu,~(q._y{al'tiiuil:n~ip•l'OIO :lulu-Ide{ri~~F'I~Ifi~uHCrl( f'/I)lrrt! Addl'clGr _. 4;~~1 Liuglc:alnwn ltf)Iltl _ AflJnstcr 1laciitihurl;, I'q 171 11 -~ IIN'ul_w 1,.~,L'llc_ul l.dapl htun•ifivtl I~.SIhY,I V ' L,, p ~'rr ~~ _ Makr 1 L~/"•-D I 611nw.4 a - Inmm.;rly, ('kliinMn ~'~ arni.t.4 I}!_(N10~ Itl R .. Mulk~l /11DDt L . 14.1y~:.,•1.• C•ir+SrD -C~ ~11C,RI:D -- - - ._. .. - Miluhr• _ J I % _. I ,urc 11n ~ 3C r ~) - - I r,Alr F~~~/~ In{ I( t t l I t ~,n, l .•I.r, - Ibspccl,llll lalcllliuu _(:vrligl~,-I/q. - - - ('nu4lct ~tiutxlr,, Mc{'yy uvlatnt,t.. CUrvpITI(tty ~ _ -~- - - - V71luc Suumc _ Ulder ~pyt 's!c - - u..,, ran n 1 lu,ulr.~ t 1•t U n (=„nJitittlt CIuM.a - - Slutf'll 1 / - ':ItwQ _ *...! ~I _Apr ~ SIN 4 M1.1\~ ~~ ~ U f..l C'nnltlltall% Y .. .~ _. A'll'~IiNInJI n ~ u f1 ~_ tlcnr,41 r'ra.lid.,,l n >M Cl p _ '"""_ i ur l9: lili,n.~'I.1 l1u :i11MlN,n„,g _ WK _ '12 M,tl4nuK n11~I1Villl~llt71 _ __ .. .. . .A .r~~ ^ U,:At,!sJt Quo~rA~riurl~ I. rfnnll. _ _ AIIUNh.I'l' _ - 1.1~(Jf11.., - NnAl1~ nnuur•...•; _ rnr)Nli r ~~ ~+,nr, J//IIfCQ •• - -- (:oudiliuU (_'{wwt- tit51,!fi rwluc C'olunlcnlx - AvlL~t~c; G ~~'o ~ ._ nu.ttiti rntrtv'i~ .,-- SU$'1'U1'At. ~1~ 7 ~a •~ nuc fli I:S - A hl lrl~I n .1pprUisol'- ~~~j1-1'-_Lusc: l~t,a~'_-r_-,..~. P,( Apl,r:li~crn I.icvuae Nn. ~ 3~i ~~~.. - J~~ ( arpy la Uanf4C -'~'~'~~ lnv, CUlhplloy Scl~~ E /~, ( ~ ~ -- • i ~ TITLE NUMBER ' CERTIFICATE . OF' '.TITLi:. TO A.r MOTOR. --VEH[CLl~ ~ ~ 6 3 U 5 ~ 0 0 ` SERIES F' s. ~ .. . •; ' ' ,,, MAKE ~ BODY .ORIGINALLY' :SERIAL _ `GH:VfT.'OR ...: DATE -.. w- ,_ - TITLED NO. FEE - , . .. , 5 ... ~ . r .. ~.. - .~ ~, .. .. ..is .. .:. _ 4• c ~'~1Ri!5`:PIGXF ~~t~9i . A-36~~088 -~ T~ ~,• ~; ' ~'` STAtiIE~ B&K~ ~~Ft~. v~,~T~4 ~ tliE~gl~i~dSi~ic CAi~..Cv.b3.. '~ L:-bt~~3?';; ... .. ~'~- .. ~• f ,, _ - _ ~ ,,,, - c ;:{ [ rte` a - ~ '.~ ~, n~~ .. .~~ i ~- :..' _ F #~ ~~ti , '~ ~/, . ~ .. M1= .. i' ~... : . C • . ' C ~ }~~ ~Mlq/ F ` ~ ,1 ,~ 'I ~ r t The ~: Depa~tr~nettt of ~Motoc' Vehicles of the= State of ~MarYfand, hereby certifies, :. pursuant to fhe prou~slons~of' Section 3 7, Arfi'rcle` 66%, of the~:,Annotated Code of Marylcnd ' - , that are: applreatlon Chas been made•.;under said Section for a' certifi~ate~~':of~ title of a motor ' ` ~ . veh~cle~descrrbed aaove:. ;` ~lta~tfjat the applicant hos~statedurideroatti~thatsaicfmctor:vehicle is sub~ecf to the'fotlowing liens,"and :none other ~ is departmznt~'rs Rota record'~off;co:'for thexacordin of~(l • g ens and tfreretorerdoes not guarantee the statement§"as fo: hens o'rt this'certlflcate o#-#itle s a G ~ ~ . ~~ C, .r r "~ i°, _ ._• AM017NT KIND=: 'i - ~ ._ _ DATE' - FAVOR OF • ._ _~ `'' ~ } _ ~ - ~~_ . - - ,E. - - -- .. - --, 1: ., ,F~ttit~Er ~ertil~that reaSonabte dllrgQnte-fins been used In cscerFairiing -whether or not the factrstated ! .:: .. ,. `ie sold apphccfion for .a certiftcate' of t F~ i e ' ;. ~`- ~ e a e tru ; :on $'thct the~.apptrcanf'~is the lawful:'awner of the above- descrlbe~d motor°vehlcJe~=or is o#herwise erjtitCed to' have #ti'e;same registered~in his name: ~ , ~~: ~ijerefor~, ;" k 1 do her~iiy-certify that the csbove-named applicant tias been-duly registered in thi d p a " , s e artment. s the Idiwful owner cf the above-descrrbed'motoc'vehlcte, art's othcrwlse'enfitted to have the same registered `in hls n4hie, and`that It Appears-upon-the offitiai records tha~at tFie~~date-o#`the issuan f thi e '. ce o s certificate; said motor v a hlde.'is`~subtett to-t}~e. iens'he~einbefore enumer~sfed,-lf any,`.cnd" none other. k. .. - - - .- ~` 3~; . ; ~~ ~Tfnt~sf; my hand pnd ,the seal-o{ ,this" de ertrnent't a d'a .;and °thc ear set o P ' ' ~. ~`' y~ ppofite the name.of the apphcia~it m'tke:'aforegoing .cectificofe: ~ - ;, - _ . - ~, u. - . ~ - .. ,. -.... -.. 4'(A~~~ ~ /~ A: i ~~ '~- - - ~ - - ~CCMMISSIONER°OF MOTOR VEHICLES - •rd:: : J i~ 4. `..~ _ N ..•~ n a : r.a - ~ +. - - ~~a ~-- ur~;r.a.,~.e-;rrv~l 111;~.I.,iLfii7 . ~_. ~ '(~'fmf "or tyl(ewrite sir u-formation) ,• s t~ uPoa conviction for false statements in application or atnlgnment nor for alteration-or forgery of this certificate is's fine of -=100 to 21,000 or not . _ ~~,1c than five year~ampnaonment or both ,~-~''Y~ The certffieatei is tr~aasferable oaI ".,when xacerded and"filed at the:oft9ce of t)ie Department of IvTotor Vehirlee,' Cruilford Eve. and 21st St., Baltimore 18, Md., and Ie valid qnl~ wh#le'Lhe• ear desen'be~above ie awned by;the individual~'8rm or corporation named on face "hereof. eat; parcliaeer's api7lfcstloa #ot riew titIe:arid a`fee of~One Dollar plua"lojo .e:eiae taz'based:on purchase price, moat be immediately filed with the D'epartTma~nt of otoT Vehicles by the~purchsser of-s:motor"vehicle.before regi~trataon-tags cafi be ia9upd. ;.A3STGNMENfi~'OF" CEBTIFICATE~F TITf:E ii'In consideistion ~ ~G of the sum of $ ? ~ ~ •'--'r I/We hereby Bell, sesiga or er to` - SOS f !' ,p • . (Name of Purchaser) Address ~/~~ ~ (i ~ ~~`~ [,;, ~„ the motor velucledescn'bed oa the o the same is subje to , AmOUIIt 4~`: of Liea IR NO LIEN USE~IY110RD .' ~ - Date of Lisa F _ Nl~y~ I) ~. S L - e= ~~ ~_ Tsi"In consider of fire suln of?$ I/We hereby sell; E umber) (Poat.Office) 'Zone No. {County) (State) • side of tliis eartificate of Tltle and hereby wa,Fraat tihe Title to said motor vehicle and elate that at the time of delivery or,ericumbzarcces and none other . • a..oj. ~ 'F.SVOr Of ress deIIOr' ~`, t!e a this/ t lee and Q ~~ ~1'E'~F>{tr ~, (Signature of Seller) ,;~ ~g- 7utdt'owner9b'3p°s rEijulred to-nigh. Ito Ffrm~or Co orstion$ ` 1ega1'officera rP p'oue'bf`ita - ~'',~ - L~itE~+a°I~.'~~T°' ~~~is y Oa ) hI ~ W!,BDFfNGJ-T4ie: application mnet'not be signed unless name and address of ~;'~ ~ PPrcbaQer'appeaire shore. .., ,: - kN', ~8 fJSTJ . $Y REG~3TERED DEALEB3 ONLY t3idQa S.ti , Ir tr sf~O~"'..11 • _.~.,.~-AV ~a'~r@~'.": - rh~IM'~~nlmr•~•" (Name ofPurchaeer) - Address (Street and umber) ; ~ (Poet ~ffioe) Zone No. (County) (State) the motor vehlcl0 desenbed on.the other:side of this certl8este of 114t1e sad hereby warrant LheTItle'to said motor ~iehicle and state that at the time of delivery the same is aub~ect toy the following Ilona or eacambrances and noQe other Amount ~ ;T~nd of _ ''- of Lien ~ Lies Favor'of IP NO LIEM USE 91/ORD "NONE" ~ ' Date of ~ Addrem Lies ~' of Lieaor ' ' 4 • Subscribed andrewora to~before me this` ' - (9treeE and Number) (City) Zoae No. (State) s----.asY of `= t9~ (Dealer's Name) a SBSL ?(9ignature m Ink of Pereoa edminfeteringtjsth)' B y .::: (Saga here as Pres., 4. Pres., Treasurer or authorized agent) ,: (Address in Ink'of 1'ereon lldminiptel'ing Oath). WAEI4IPIG--Thia>applicstion meet not be ei • Pnrchsser. dppears above. aned nNess name sad address of My.Commisenon ezpirea 19_ ~ ' -.. ~ •.. . .. PiTRC$ASERrB `AI'1'LTCATION~:POR.- NEW 'CERTIFIC`ATE OF TITLE' PRINT FIILL ~ _ NAME IN CAPITA~.S ) ._ - (Do Not Use lmtui~) Prmt;~Fust ame in Fuld ', .. - ' PrhxL M=dille°Name in Full Print Last Name the Purebaaer of the motor vehicle deecnbed on the~face of this certiScte hereby make ajiPlication for a new: Gertlflcate of Title, and [or that purpose state under oath that I have compared the manufacturers nnmiaer or serial auaiber-oa'the face of this~certiticate with-the rnaaufacturars number or serial number of the motor vehicle purchased ap. found that they agree fa•evary parWci:lar ~;• I further etate-imderoath that this motor vehicle i,s:subject to the fojlowiti'g liens~aad none other: Amount Kind of of Liea '•, ~~ - _.° If' no uen usE~yORD :"NONE'• ~._ '' -~~~Favor~of ~.. ~ ~~ , . Date of Address . Lisa of.Lienor ;(Streetand Numbor) :,one No. (City) (Stets) ~' Signature of;purchaaer - - .:(Must be signed peraonally.by Legal Offices:'if joint or How meP O. Address _ S L (Li. F: D..br Street) , Subscribed and swore to before'me this day of s9_ (Signature m Ink oYPersoa Administering Oath) or Town) by one appear.) ~~: NOTE: TIiIS. SPACE MUST BE FILLED IN ' { "' I/We ee (Address-in Ink Df'~erson `„ rtlf! that the full purchase price of the vehicle described on the face of L 1J ~` Iw {.. 1 ~ _ `' ,93~ , MY Commtestga°el:ptrefl~ `"- ~ u, this.titlals H A of ... w d v" p 0 0 I~nx i7l~1srs..i,xx ~r'nt~.5lnrc:nl-PItAtSnr,SEr~vtc'r,~NC. 1„>,.<:t,. l„~.I ,~I~~nl-- clnlmur~a.lul•,in)exppr,cum :lurrJ-~ic~lrl'ytiyru~~Jrl~lu• Nunlu ntittrcea_ - _ a~at~ I.It1t:I~st,,,Y111{~;,a ~ ,~,III,RIk._-._.... __.. rlan-lshuq;.1'A 17112 lltt•\lllt l,;;liult' ul't.ctlltjY~ttRiu,n - 1wSU.aI n ~ C"laixwx,l G L.,,.,,a..cti, _ (Ia,IrIJn _ _ ^ lJx,wl„Ir lp•o UI-1 p .. trar / 9F irlahe /1/~ /~ G ~ .. Ml,nl J `~a'p W 1 ~ ~ , ~ p ~ y Slt,al M !2 OP~f / ~~~ o r Vf/~ n 7 \17 ... ' Mn ~~~~-a?94 ~j ^ _. . a,,,, 1 irr,M: hn, _ _- tti,fn. _ , /~ lnaxup,n Qlirirr tUSpCClluu I tKtldwy l::ulis{vy,{In, xr +~r _ ~• L',mlllcl _ 5a11lIEnl~)cl_JIy _ - I IIIIIR _ I I ~ 7.) /- 7p I l ~_ l.-~il.~~,. - - l)\'1rkA1 V t~()~ll ('t'll l1V _ Vil Ii1C tiilUl'<L' tllllL l' t:AfS t, llld • .. I:.c co10. Ih u,l,r riyr t'vpoltiol, (:ltlss ~~ . _ st>,l~lt vvtli~!' ~6 y~ ~ xnny. t S iw,x.x• 1 ! t.~ () ..> y- -.. SIaMM,:IpI ^ H ^ Il Comnunt7 --° - - _,...-. ^-_ Pena LJ Q 4 ^ - -- - ~xcMem.ml ^ ^ b V ~ - +~'-. .. .. near nunnl7 N•I' •nR..mux~ '' -•+r row - ^ UL:AI.I~,R (,~UO'1'A>;IONS NAAII: _ rIKJl.t.q _- ._ v II IYI: SAIIPCC londltign ~'blss. 5lnltttl +,Ileu-- C'VlnniClltM Avt;ItAaK ~ ~~, Do 2 NAMI! I rl 11/ur, n .. - - $UtTI't?'i'AI. .tuPltt'.Y_ _ ,~_ - - '1't]'1'AI. ~_~( 4/,t~,Qp 1.1I11Nk tf ~~` PA App,l,iaCfli I.leensx• 14a.,~,,,(3.«1.~ ~ _ Copy m U,vnrr~!-~i„~~ IOS, t.001119OV •~ ~'.~ ~.~ ~ 7 I Identification Number Year Makt Il 02 867S105039 1962 ~ CHE ' Registered Owner CHARLES A TOSCH III ~ 450 PINEHURST COURT WITNER HAVEN, FL 33884 Mail To: CHARLES A TOSCH III 450 PINEHURST COURT WITNER HAVEN, FL 33884 ~^ ~ 12'08675'1050'3~9'9~ Pre+r.5tete Cobr. -,%- i ~ Titb pate ~r~ 1 4 , ^ r s: ~ ~ T19 62 r~~I~EV ~ ~ ~.. .:. .. - E 1I~iEUJN Td1E-bvlt~R(5y lLAnrtD r~EP ^u~' Ve4ca IF~Q~{s l~O~. Tiue Number 6898.741 +. ~r . ~ + r ~ ~• +r.. `' "t' ..~'~V °ra9~~' h,,, ~~ f d 4/':19 9 5 I':: y,,r ~.Ft. v x ~ '~i t -. ~ i } Tf f w• y Y ~ x ~rOdometcr Status or Vgssoj:Manufacturec or bY4'rJ§e Glk ro yry r, tool Pssue d' r ~ P~ EXEMPT ~~ M, ~ ,•: .. r* ~~`= x ~.~- R.,~;, a v~' '~r,~~,. arr1:2 / 2'2 / 2 0 04 Registet'tad Oof~ieri ~ "= ~ " €*G't ''`u~"r w ~ j : . _ ~„ ~ e ~: , .. ~' +r ~ r ~@ ~•9 f LIerLA2elease ,, ` s ~; r f~~rxT .,, t y~:a 1 a~ a,~ "vs ~4 ! I t In the~b Jov~-tle~nbgd vehkle is hereby releas~d r C~IARL~S dr. k~08G~-I I.I,~ . ~ ..~ ~ 74i`1`~~/ '',r p ~ t - 'r~ f~~ / ~ d 1 . 4 5 0 ,~~s~v~~~~~~ cote. R~, ,_ ~ `~1ti/~'f .~. ~"" ~ Rr' i - WITNER HP~,VEN, FL 33884 _ + -- '` - cy ~ ' Date i ~ -. a ~ r Y ~ ~" "~.~ p,GTa1 '~Sr ~" gar -f'~ rr N x ~•. ' 'lst Liexik~plder § ~ if,.r` ro~ ~` I ~Yr+d r rr~~,'~~ ~ - - NONE - t ? ~ a ~. ~,.,~ / ~~~r ,~ ~,r~r~ ~~: ~ ~ - . IW-l '°ALPw~' a. ~.a.. /~ -. 15:~ y'.'~.! ',i.TCXS: JI 1 ~ ., . ~ ^ t S DICrISIONQF~AO;TORVENICLES "~ ,~`TAURNa~'?~F~'g ~ RI i~ Jp r } • w+.d .g ~:.l./` - -~+~r,f'~ y °'' '~ !rywµ r.~. -. MF1~JTl~P'~I~GHWI4Y~FETYANDMOTOR;VFJ~ICIES .i i r - t- ~ w // I e ~ l s~}i~ y -,~~A';'"r 'q"'.~ 1- - :~ ~ + wit E ;~~~S,.yo~. 1 , I ~ + ~q ~v k 4 .r _~,. - ... -f ~~ - L ~ r~y*Jd W~~ fi~+ ~. ~ ~v~ ~~r I' -f i1 d ~{fps ~tf} rYV° -' i`. a 4 I .. 'Carl A. Ford s .~~ a y t p ~ d~ ~ lEa"i ~f4 , r ,`~~ .,3 tr"f~- r DireUOr ~ ,.. ~` ~~, ~ *"' ~+a arts' ~ '+ 'V 5,6 T wf t" ~'r~a ~ i ~' Fthreld ~ ~+~^ r,,.µ` 2 ~'~ ' r` , ( ' 7~~FER TIT ~~'. SELtEif (~hfa'apctl6n M ~CbkbOmPk~gB b fhe time of sa ODO1ME7`ERCERTIFICATION-Feria'elandstgtelawiequlre.lhatyou3tYtrthrmileuke,InFhftugctNN~wJtht~tatf)q~starotq~nei'shlp Fitlutctoeomplereor provdmgafslsesutememma raultin 4 ~ ,~/~ r+r'r 1 ` s-krtt~rq a"$Ra0 and " ~iqd to be mt I~r ~~ c~Ja~ ,. f ~ :: ~ ~„ ~: r. -~. _. r 1: "r ~ ~~bT"'9~ ~°t`d Porvegadf~efeft~ed~shacbytrinsf to . PII(ChiSef t '~ ~ ' Pr d ~ ~ f. q~ ~~ h . J~ } f I ~~•~~ UWeshle drat thrs ~S°dr ~~digit'adomaer now readt ~~ s ), X ^ (no teri " lltttti; ,~ , r ~', DitC;~old~ ,' ~ Q . miles, date read and to the best ofmy knowledge CAUTIQN ~; I a 1le[eD;+~1~.EtttlS^tlptx0 the ofmry knowfeQge the odomae reading eels the amount of doge M drat it REFLECTS THE ACTUAL MtLEAOE ofibe vehicle desenbed herein ~170'Np'1''CHECIE '~$y`pF'.f'('$~~,+f}~y~At[,~~~,, - ..: .unless,one:ofthpodnmeteruatementib)oclcgrs~ctuxked~ r~.""er ~ ~~ =S iFA01'UM ~ ~ - - '4. r ~ G^'MF ~F r~ ~j'~ 'GE ~~~~~ HSr' UAL ~,~QS;,,;,,3 . I . UN PENA4.T1E5 PER,1 i E gg --~ ~ ~ G+ "'"~ I ~ - ;~;~I aj O OlNti~q~~ C ti igrWprcof - 1 - r, 'fk+F~,.. ~~F~~~y.~~' '. '. ff:: ~ *~xx w.. ~~ ..; ~' ~EGI R ~ ~, y;~ a', b, yr ~. nrchastr: t ~~~'~ .rT~~1~'rT ~~R r ! ~~ iiRr .~~~ t ~ ~ at"~,. ^' }.' igruture of i Pur - o-Putchaxr:: Prmkfl'Tlnyfe of - IttnataieOf..: ~~` F 4 ~•: I' £ A t-: P~, ~~KY -~~ a~ f.. elkr 2 i ~ ~ __.~.,~~~ L~ y or" r yin of ~ a x ,~^ Seller. .... ; g `,-"r I ~ i' f; ~ ,f~~M ~ r ~Goi,Se of ~ "M: ';,9 ~ I r . E ~~ ~ .. .. ~ ~ -' . ~ :..r F i Selling Dealer. t-icense Number. ~ Tax Na ~ Tax Collected: S liable) w ; ~At~ctionNaroe. ' ' '""r~' a~„~'~j t n' ~' 3+ -(~ ~ *~f'~9 .t ~.. ~~ ,,, ,-:...~'~7 _ ~~-2`'~« ~;z/, ~.Ss4G?t431umbeq~~~ft~,t~u.i _j~r.. ~;4:, J' ..,... ~ '1'~F 4U51y1U5~ B# 426698 Model Body VVT-L-BHP Vessel Regis. No. Title Number-~-~ 2D~2300 ~ -T6-8987412 Hate of issue 12/22/2004 ' Lien Release Interest In the above described vehble Is hereby leleased BY ~ - i STATE OF FLORIDA I. LIEN SATISFACTION 'I. MOTOR VHHICLES MOBILE HOMES AND VESSE S SECTION 319.24(5)(B) AND 328.15(7)(B) FLORIDA STATUTES, PROVIDES THAT UPON THE SATISFACTION OF A LIEN, THE LIENHOLDER WILL, WITHIN TT•N DAYS, COMPLETE THE SPACE PROVIDED ON THE CERTIFICATE OF TITLE, DETACH THE COMPLETED LIEN SATISFACTION, AND MAIL 1T TO THE DEPARTMENT. IF THE CERTIFICATE OF TITLE WAS RETAINED BY THE OWNER, THE OWNER WILL, WITHIN FIVE DAYS OF THE SATISFACTION OF LIEN, DELIVER 71HE TITLE TO THE LIENHOLDER. THE LIENHOLDER WILL ENTER THE SATISFACTION IN THE SPACE PROVIDED ON THE FACE OF THE TITLE. IF THERE-AR~ NO ADDITIONAL LIENS SHOWN ON THE TITLE, THE LIENHOLDER WILL DETACH THE COMPLETED LIEN SATISFACTION, AND FORWARD IT TO THE DEPAF,:TMENT, WITHIN TEN DAYS, AND MAIL THE TITLE TO THE OWNER. SECTION 319.24(5)(C) AND 328.15(7)(C) FLORIDA STATUTES, PROVIDES THAT IF THERE ARE ADDITIONAL LIENS NOT SATISFIED, A LIEN SATISFACTION FOR THE FIRST LIEN WILL BE GIVEN TO THE REGISTERED OWNER BY THE LIENHOLDER.'THE CERTIFICATE OF TITLE SHOWING A SATISFACTION OF THE FIRST LIEN WILL BE FORWARDED BY THE LIENHOLDER TO THE DEPARTMENT. i~ ~ Department of Highway Safety and Motor Vehfcles ) Neil Kirkman Building ~` ~ Tallahassee, Fl 32399-0500 t ~ ~ ' ~ ODO R C CATION - Federal aad mte Iowa f th Se111og De r go at ^ ebb the miles a b eo neetbq th toaster of atmenb . Fatlon to M Itte or ^ t~F1e abtemegt tday ronB is Mq utUor Im ritonmest. er' lard ~ Llceme N ~ La:.~ ( ~ SSE; S a '.r. i 5s 1La ' ' 'I. 'r.. . 1 ) . .9eWgg De l Cou.cted+ +. er's A~dreaa. ::. S'.`:. - 1 ~ ~ ,.c -- ,; ~T. 1 e Ill1'e wart Namefa): `,.:. t itltle aml tertlty t ~ _ do ducApedlseielq~,yol.bu¢Y!}Lat ~ 'fir ~ ~ - r r~r a +.tw' - d ~_ - t ~~ ~ ~ ~ ~ ~ ~ p, i+3 t. .. iC c ib ~ .~ I/Wc sure t st w ^ 3 or ^ 6 d(gn odometer now reads - errs (q!t Tenlhs) mtlea, daro~sad ..~ W b tlu beu trf my knowledge tlbt n nuecie the un~.[ mn . ..~s ~ ~ ~ > m 're CAUT10 . . . "' a..s of the , rebicletk:acctibed 4aeln, unlaa rme of the odoteebr wtanent blaks is eherked: q DO N07 CHECK ^ 1. 1 herb y em¢tY ro the,beu o my ){n wld F the tradb{ ^ 2. I hgchy ceNty tAat the odometer rcdm is.me he net gal n -; .. ~ BOX iF ACTUAL refl{ :ihe o o1J t f ~ ld~' . ~' 6:-~i "' E , M , . ltn o •+e ,t gs - __ .. __ WAlIND9G-ODOMETER DISCREPANCY - 7_ v i Signamts ~ , GE J ~. ~ ~, b .. ~. k'~i Nt,{ ~~ r ~ I - ) ~ _ `v'~ Purchaur: { * L . . ~ J!: ~ ir, : i.. • _ - ~iNfm!-o~:. ' y ~ /~ {+~a•~ ~ ' ( ~ ~ ~ • ` I (; I l\~i J/// h Co-Porch r. ,. Co-lfitebaur, i ~ seller/Age e - Auction N ~ i e (dVhen Applicable): ~ ~ ~.~rDerfAreot 'tbwbpn, ~ ) ~''u'~ P '.. ~ w . . Lkeaiue N h r kr s Deelers. ~, ,. . ~. ~~"+ ~ IT gr~ ~ f1 v~D~°4 ;1j~ ~ ~ O Selling De~ i '. , . .. F ~. - ler'a Addrw {~ '~~I~~Rk'I r ~N ~ T ® I/We warra IV~}~ r.. r nt tlr4 tltle and eer11(y that the rehlW dmMbad Mtdn Itp been tnttahrrd.oq (date) - b rho (ellowDtgt u~1 Name(s): I ~ - Addter: U ~. ~ m F- ~ Z w ~ 1/1Ve state t ~ CAUTION hst this ^ S m ~ 6 digit adorneu now red ~ ~ n ra (go~mtN) mlleF, date [top aod,t0 the hest os!aY FinawlWge Nu R~ of the f r rtdu6N desentied 6tgtdtr yat~me odomete uranent I~Oe}y is ohxked: k DO NOT CHECK ^ l I hereby ceitl('N'!h t+teabe y •, er g ~`i'.''' t~nK B rcoQtpj ;^ 2 Ihraeby-eertifythu the odometd readin -t n t h i 80X IF ACTUAL tc0ecu SteVarrlovnr ~L ttdla G - WARNING• ODOMETER DlS CRRP NCY ' '` ` g s - , ~ . MILEAGE ~ Si afore o' ( ~ ~ _ . ~ I" - `r' Pu`thaser. _- _ _,~ated Natoe of ( ~ I C P h .. . Purchuer: 4 p 2 w. o- urc es SellerlAg A N~ r. Lo[Po[cheser ! ~ ~ . (e ~ J - „VI ~ *~ t"t -: S Ikr1A<<nc h uction +. e (When Applicable): S r' „~„.?' ,y •'').Meen~o Npmber ? •- _ ~,; . Selling De Lkeose N9 er'a Dnlerh- ~ - y s;N v . ~Plame - - l~•lr~"„y; ~ - - D Selling Del ColleetM her's Addtm , q UWe werr tw this title and eertltY that the rehtcie dneribed herein 6aa btaR.lnniterrMhq (drib) b the tellowln - g• Z . ~ Name(s): . \ i ~.^.+E.n:. ..4r Addrta: -', `° CAU Di hat this ^ S oc^ 6 dig$'odonteter w ttiar!'s ~ : . ' -•~ r b(,ao 7vdibYad~ ~ mrnf dte odoingter snWrent hltwlufu &akWetltat It ~m ••••« „1 • raFrFtet ~ ceDer~ o(We : DO NOT CHECK ^) I hereby ce[µ')y the[ ~ ! ' ehe. .~ 7 ~ ' ' ` ' ~ , . hrie by . .cetll7y NN diq tdome JP~ -~ ~ ~].3' tersad7p4nnd tt. ew.t' n W-~ . HOX IF ACTUAL rellec¢.tl)o,rpmstnt of-rF i BE WARNING-ODO1H6'PER DISt7lEPANCY. MILEAGE ~ ~ ~ _._. t? Signuorc / t .; , Putnhascr. ' Ptioted Natx of ~_ ~ _ re Co-Purchas ~ ~ P R' N : '~- - ~ er . .. ~ '~ ~aPuahlter ~. ~ F~ Seller/Age Aucnon N c ~ ~-~ •tz tl Ile! cot. r. ' ~., .. . ~ (When A : .. } .. = lic bl e . - pp a e) ~~, _ t 4 I make app NOTICb: s10.00 PENAL71 29 R6Q DEY LAWIL OTtsUeMPt?tED,FORTMNOPER WIT$IR iV DAYSAFtE1{DATE OPPVRGgASE colon for n actr ccrGAate of title aad aegbtratlod fonder H ~ lkobty for sold o kl of Form NS , pp m or ra6 e enreaael irhleh oow hu liege a (ogowa= (Derry ntrmr nod addreu of cub Umholdar,~ If NONE, wdu NONE). Accord oddltbaal lima V 12139. FEIDp or ~ 61/DLM - ~ . Lienholde 's Name: .. ;~-,. _ •ax,.. - =~ ~ s. :. i ud Dam of Ales :. .: . H ~. Address : .. .. !! - ~ . Data o[ Lbn: ~ . ~~' iL. ~~ ds, ~ f• ,~ ~ ' ' ~ i - U THIS VEF ^!/WE IICLE WILL BE USED AS ^ TAXICAB ^'~ g0 ~ [] ~,~5 ~~ ~~ Sffta re~ Zip ~EREBY CER'F[FY THAT TE~VEFlICLFpTO BE TIT'I:ED'~1(RLL E - ON'TFfg~~ L C I i UWe sate j g I F3GHWA.fiH16 SPATE at Chia ^ S or^6 digit odometer how=reads - ~ (ar:Teo l-atdm ~ .~ ; ~ ~,.. "~ ...,... ®9 ttirrl~d~ - odd.'M the best d m7r'.k wrledge that R nR~ts [ha+etdal nNteen of the m ~ CAUTIO _ .rehibledesni6rd heroin, eakss ooc of the odorWtef sutemeot blacks is checked: DO N07 CHECK ^ I. ! 6eralry certify that to tbeheu,o(tny knowledge tM'odometeraadie j g ~ ^ 2 I hereby cenifY dsm the odometer redin ia'eat the acro.1 HOX IF ACTU 14 F c g a.. ~ m AL te0ecb.We amougt,of mikoge.ln wren ot~ cch nt.. t tt t j MILEAGE I _' ~ ' .,~ )~ .~g•, l WARNING ODOMETER~DL4CREPANCY. , r ~ ~ ~ ~ ~ ~Y S.. o (PRINT/f el{ 'hi [ i ENAME OF PURCHASER(S)IDENTICALIsY AS SI HELQW)j _.;. 14~t'F~?WAen nhiPA,gt7,reaaa lndfple NW?ror•i'uW!s~bht>.:eenstimee;Jtno lntlkalkp, naddn wW qr shgwn, , U MAILING ADDRESS - CITY STATB~ ZIP ~ PNYSICA ADDRESS , UNDER P CITY STATB 21P NALTIBS OF PERJURY, ! DECLARE.THA2`J,HAVER D FIE - Lkeme [9ue No. ~ T ~~COM~7'AND 9:HAT TFl&PA'Cl'S g'FAtJ'ED 1NTPARE TRUE ~- • r ~ ~ ate, - ' Signature . ~ + ,* - ~ r . - : ~. ~t,]jt Pumhaur . :. - • ~~ ~~ ~ (Plot Name, Middle fttltl Last toe) - '° ~"' I ~ I a'e.~] ~ T ^ .NO ..ENT ^ ALIEN (Florldn DLi or FEIDg) . - (p+1M PutthaurY Dab o<BUtb) ~ S)gmture s ~ br CaPrtrchaser . -: ~ ~_. - ~ e I (Ftrst Name, Middle /a1tW, Lost Namey ^h' jDENT . e^ NONAISSIDENT ^ AL@N (Florida DI.N or•FEIDa) ~ s . •,(Sernttd Pnrchoser'a Dab of Birth) •••,:c I11 /~ w.rlnMl S7'AIiti1NlC Al'i~ItAISAI~ SRttvIC.'Rr, TNC. lua. t:v.~n,~T~t!/' ~ +~'"' ' PAx f71T):549.{(ppl I:uinlttrphl.rxinkrppr.cl,m -'141u - 1/t!gv~r Itiyulp-nvur Ilnulo nuur^^n '~3491.irlelcsluwu Road AdlW,lrr'_... ... 1 farcisbur~, PA 17112 ~~7fr ~fi CnMPLh'TIITHA)FUAMpU1tALLTQ'~A4>rUS.SFS 111vNlilt_ _ ~~~ ~ f2~~1 Iw.ual rl . J f:.. ~~_ t'Lnu.an ^ ,ula.nwz Ca tluig PM1 ~' Q f - ,[~ [Rlrltl i~{• QC f ~Q ~ -! e ~ J a.J Z M.-Y O -_ __ - - . rLjl_ . _ rrw~l ~7jvA.6 ~,8.~i'Rb r,ea[ :Ilrw C'~'~~'~i nl.wowl:., f~.~. '~ L ' r 3 « ~ _ , ,.y ~ Y M,~,[,n 12Z~ IAttrwTeY . •~f 1'F RMI~1 C11 t:e~r ft;~_ _ 1nl~tiwl tih.i.v , . )N TO MK)VC PAR ~A1•ihKiiN.P1NQ ch l eck It r ncfkll 1' k t ~ efni r: ^^ In «»~ I. .rlti 11^rt rn+^'.adfr lW.'IYlnl'PIYnI UI^bRetu^rJ cr.rtR ~1fR Ih,. I.WIM ferlrll ll rI rN ~It h h i la e Ikk IrocMiun _ ~ Vrl C~f.•f~~~ ~j p R rt,wt 9ah R" nr t l xitr II.~ wyler Mail a f:[rMtkue nl ( l l .f (),rl~ y{ tin A p tcn Ivrrlferrnl,; _ _,,, ' - - 1'Mr,n4,d, ^ cF.1 11r whnnt ~.. - •~ _-•. - dKIPIrtP.emr - - - -~ - ._ . _ 194Utt:Iti1 .. .... 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ILa ~ 61r Rda panl hyl 11kt;1 111rANb .. ~ r - `---• --- " - - ~ -••- - -n,rtii • g .. .. 0 AL'1'RItNATiVIa kl-)l)K Mr'1'11(')ll ^ (:ttiUH: B(1Qh MF,TNUU >J A.n.r. 1YA11A Ri(1)gVl)1- Q Olhcr nA,ti1; vAl.lt~ 3. ~ ~ ~ AIK liA(ik U i _ I)r,If ,w^IYnllull >,Lhrwl{LVd , ..l tiid. ~ ly~~ ~ 'iidc I.~„4y ~, - _ _ n(tfl•ryNt.,,«,wnr. t .._ _ If Wit mrll.,l Y7 rNW r^, rern rl -~ 'F KcRch tll inRxmlµipn .uu)1~AJU•IlnCl ttrrlM'D - AN rl• NNA•. Anna 1~ - ~ - .. - IIGtd(tin~ AI Illn rdtnk LKilllllyl Pr.ka I.Inllili.q Mn• Anil - IIKAKLC Prover Ipn4..~ ~ wheel Isms}-nHS pr- - ` - ~. - If+t wnrlktl Nlhe. r ^:gn.e.e l.,~nl l c!•ti[d clnlqun t t.,. ll0~lly al nK I.N~IeA~ ~Ymp11V 'I r t IRllttiv I'ONer 1 _ - _ ~u.SCf•1'IIWCfIYimtrnvc¢K.rIe4,Pslryif' '- r 1.eUryFi 4,nlnlnn~ 4} ~pItlUlUbArnlntluMenry)ounrenne ' I Ili ASC 7 bard (] Rltn Iklket ~ "' -" -_ - Rl.l I n:IrWdt}n[ PIlf1Nl°.t~.ll1'huloll - _. - - .- Ihn.r4k4c mtltlatilvl Ivrq M, olnl;.re smlmrq rnunl n~lld 1•l.ffi}!iW,r.MF ,~^ txtl - - r'- _ _1 ~ j~L;ALFIt QUUTATIft?NS Carrelk D teen - -'~' f S'd IFht I by I~fr(1 I tVAkll' ~- ~- - - - H11111: Ylwt~lU Slnl D I'. fvp0 -IJecl ilrn fl Mnn ttl~r (~ ~ -- - - = AlNllll!Sq_ _ - _• - - r. .- SI'Aly Ibnerlsnttrl!}Kn.rrl'a.p~.b(r., - ~. ~..- Pllll)0~-- - - - sl'1K'1n1. Snvr><r tivrinn O NnrlalAnl S)tnnn q - - " -... 2 IVlslld st LI!q INr, 1'Yn el Slsernt; 6 U was l'Yalml QI'-1 ill WNcel h •- - - - '- - •._ - - _ • AI,pItILtiS i1PlU)ISIhKY t'LI _. - lll D LeeClq a, - ~- - _ - l I(ANt~MIM%1[)ry AYWLL,IrG ~11KtMI IJ •_ - ~t(j(1 19 N IMIr N ~`• -_ ••.. - Wllfl!(ti :<lal Ll Whey ~yp~,~y,K~u~.t~rac U } NA~Itti_ -~ - - ~Ilx awu,,twuo Awxn lnwl'x\:I~eq -` - - .+- - -- ~~ . AlNlkl?t,~ - r0.'ItUI• rNUf'K w~,~ Hter - ' "" -• _ _ - - _ _11od1n~th _ - \mn llunykr p Cep 0 11^w rrcyyp p - - - - - ~ AY IrilA(:1:; ~ 4~ p i2 s o w6~9~p •I~SO,'~ }.e~uK{7rJtn}trxr n-r:tl•cuut.:y/tl.l,rs ~ l4 Z~3'~ ~UIITtYPAI. ,~611~ • s f? 8na SALFY'1'pX - _ r, F'A Applyk~~ I~lemrto Nn_ I'1 [ n.. e D Inc r'uminlllV r I r .x, ~~TL,~u F ~ ,,;^~A>1 .,:~r~ ,, ry. t ~~ X55 ,p ~. JI d' I K i i 4 Y •,ts~7' ~ x , 90DY Tlf~f?~c, ~ a: ~ ~ rP Z' (TL97St~E 0~~, I P"xd' O~ ~: ODblJ1.7~1 ~ -mow ~j+J'~ ~ q s*y~ '~'j, y.~'r'? .•r ~ p y... - ~.w °~d'.e A P. y ~ c a I~'r"5. A^•v ~(~ST.~.ls'Y. ' q ~~DATE PA TTRED DAT£YOF ISSUE' e -~"~".:~TUNLApEN WEIGHT N-GVWR ~ ,~ ..._e ' ~ GCWR I~ TIT~E BRANDS ~,. t~ i. .q~ ~ ~ v~ .~ -- ,~ e - l')~ 'fir r~. h ~ FE tii'r~(~ . `~ ~ 'Y z '' ~ " J 41, t3•F M S O~t~f. . ~~ a ` " T ~ : c Yf C1' 1 s ;i:~L'I ` ~ HIt r -~- 1P~ SSS ~:-.... ~ , f' r 7 ? i -TAMt+E9JEnI ,~nB.t-_ v - ~ _ ~ -~.EXEMvT;FROM asCLOSURE- ISTEjiLD O - r ~~ a. r~ .~ _ •~~~n ; Q ~~t~ .C ~: "L 1 J~ Q ~~ 2~` ~ 1`• ~' _;'2 'N'w( ,'~ ~~~ ~-= H a RAt. L.. L YEHI =~. yh ,~ .,,y ,eft ~, A,r, P ISAYA~S~ ,Ay~l'Ol.l VEHICLE . • "•1k"y + ,r S __~~ ,r ~ i ~.y =,~'s S vy~'~Q.q'OD i"r} rte, .. ~. '~- F~~ ' J ~ ;tiv ~u~ICLG.C.0NrW1~,S•RFrss(1~vINy~' - 'y' °' [v} + ] `' - : : W ,;. FCOOD.VEFIICLE I ; -~ fluRS7~IJENFAVOB.C~~~ "61IOI1 ~yf. ; ~ „~, SECON0.UENFANOCj~6F:~ x Is(iMASI`;YA>n 7rKa .I 3. ,'fir., CREDI S~~i,O tY i~ ~'~ f ,s ' I'cr1 J I . : ?~ < a ~ "n a secoM IlennoltlBr Is 14sled Wpop I ~ 4~~ 1~'~'r ust 1~ I i ~ Erse i I i~i ~: c t~ ~ ~ ~ ~enrmldec must forward Ihls Telerfoj (fll~(41~ie tM~ph ~' N ~5 FIRST: LJEN RE ~ i i$r. 3pproprlefe lortn end Tee..: 'f r 4t ti. _ ~ .v - •_~ ,• ~_ iirf~9m r a l ~:~+ I _, BY - ~ SECOND LIEN F(ELEASED AUTHORIZED CPRESEFIT>STIVE ~ "~ ~~. DATE I MAILINGADDRESS r ,i.,1 - _ I . ... ».. :... • `~ ~- ~ -'" -- • ` - • ~ ~~ -~ AUTHORIZED REPRESENTATIVE " M ~ _. .•.: A~~fRS" 1ST "FEDERAL. ~ s C:R~i3IT, UNZ©N a I ,._ • .P~;gaX 'pia' ....r.. .. ~ ~ ":~ Mf~HAN~i~•SSURG FA ~17t]~S ~ ~ , - ~ _ ,. { - - ~ _ I ~:.roy ~ ar r,aa.b:l. a ;B~e ma`"olpoW r.m.a'ot me Pe,insyNenla'Ueparomnt.' ': ~~~13~EY ~ _ hll~LCO~ty!' , • . d'T{arsspodatlon-railed itw - Ir,ef, pesson(a1'~or campsny.'.nemid'Ti4retrt-°is Ihs hxnw owner dalle-said vehfete• `.~~ 4 SecLxhq o_ f'T1''anpoetaHuo' 1 ,~ sUSSCAIeeo,wo'swoRN - !f a co-purchaser other than yoUr~gptwsela,1iated and y. ':want the tlde:to ". T FO E'. -- ~ ~'. .be IIStAd as ,lOlnt TenaMS .p ~tlt of S - '' ~~ >, .~ A ~ ti '. : orahip. 'idea tone , } - w yr owrar~,>ttla AD$s,! ,~urvlvlqq ~1f; O. ~d "s ~ ~s~n~F7 ~ , vrll! b~uauai as ~{'erlaril6`tsi~~ ( a o~ i p TM a , p+~~r. .: deceaged owner goaS'to hl ~ wpr e): a'j ,. ~4 A ~J ~GU!'~ pfr4 ,, ~157?j;IEN DATE: ~ r 1~r F ' ~L H ~.: a: . ~~~ .' LIENHOLDER _ _ t L ~ ~^.s r7re'J alp t tfT' 'r STR~ r. 1't~ S~) ~. {/~~ ~ a ,~ ~k'ii:. ~ ~. y 01T~; b. ',+. z' STATE +`,~, ~ { p"' t U~ ~ ~ '' l aC Sit ~ J 2. .. MY~r.. i ~ ~~'~ Y ~' c L? ~" ~ ~'p' ,i _ FlNA~J AL INS~TLJUT{ON NUMBER s ";-'~'~ ~ ~'~ kr,K 2.~~.t' ~. ~R ~ ` ~ y ~ ... 2ND LIEJJ DATE. ` ~ ~' {F NO C! ~ CHECK ,~ aeeve e~y i b e e,~w.nrx,~o.a .r~iQ.~. ~,.j',C~e~r~rlr~u4 d. Tw. m me wNd.' eeecw.a'.. +~ Ft/J ~ 1. .i3 u `~ 5, 7b ~i- "'s'ham3.n. .2ND-LIIiNHOLDEA _ . `i ~f .({~ ~•}j11,fJt { • f (ZN .~.~¢` N ~ , `^ : Y J!~ 1 'tJ Si Jr~~{ At] yJ 1 (~• ilj}3 3»~a ~. h~~ ~ it 7l I. J~: STREEZ s iy~~~~c: ~ ~s~Y`. ,~1' ~~;{~~. 7 ;I;syq•.,, r~ SIOC?/1~VRE OF ICMRiOR,AU~110AIZE0 SIGNER .. !. r _ fein~s-t"iI 7 /,•"}~I _F! T•7'i - .crrr~ .. `rn" - sTA~f1Y.~ v e..EiP t{sii?.4r`` -. s~onunmEOF~~~ ~+17~iITLBDFAtlTTKArIZED.sIGNEn' .. ~ .FINAN(9AL:INSTFitA'IONNUMBEH - {• WARNING -FEDERAL AND STATE LAWS REQUIRE THAT YOU STATE THE ~AILEAGE (ODOMETER READING) IN CONNECTION WITH THE TRANSFER OF OWNERSHIP. FAILURE TO COMPLETE OR PROVIDING A FALSE STATEMENT MAY RESULT IN FINES AND/OR IMPRISONMENT. IMPORTANT NOTICE Please be advised that in lieu of notarization on this form, verification of a person's signature by an issuing agent who is licensed as a vehicle dealer by the Pennsylvania State Board of Vehicle Manufacturers, Dealers and Salespersons, or its employee is acceptable. The signature and printed name of the issuing agent or the issuing agent's employee, date of verification, the issuing agent/licensed dealership's dealeridentifi- cation number (DlN) and business name, must be listed in the space provided for notarization. Vehicle seller and purchaser must sign only in the presence of an officer empowered to administer oaths or an authorized agent as identified above. ~~t''~~, Y 9e 44omde g UWe ceN l0 tl76~bes m foul knowldtl NetitFk ~ '~-r>eetfl~~ :i ~ ~~ ~'+4~' .7h1RCHASFR OR F11L1. _. ~ _ /~ jj !~ ,~ LAST ^w M -. flST - M:L; ...._..~:~ .'Wilms.. t`NTH Y+~~.. :, ... ~ '~ .~:_.~ - nl~ / , - We~~~~~ ansfe to rtlep_@rso s::n ~. .. -__ LP /'-l=U / ,~ t.-: Q'"1ASEiR19E; ~ .- :'wcr~..-~' . -. ..c ~~ r4N ~ '~ ~ :1 ' I ,. tJlsm~et. P~ SUSSCRI ED,ANDSNLQRN s ~-~ ;'~ TO SEF©~Ff ME y+~ s.~~ "~ r C ~ ;~4- - : " 1 'i rte'' ~~ ~ e ~. ~ IGNA. ~ "~'. ,A W A:~! t r a ~ k L f F S' . c '1 6 ~ l Y L°'~`Y'~ _ INS KT T 5~.. !D $NlORN'--; s:at f5 I•, lU ids rx~> ~ ~,.+'~,~ q ~ ~+'~, P t~ ~ ~ r ~J ~ f C4P~~F{(:,4ER 81QT{A'ff)~, T mow. ~ ~ . ~ ~ s ~''~ 14 ' i ~~ ~.,. - ; ~ ~ ,~ ;~ I ~~ ~ +C1->ay SI F J I ~-~~ ~,. ' ~: ERE ;- I ~~' ..LAST ',FRST.: ~ ~ IES$ T ~ ~ ~ I~ ~ dF E ZIP ~. T'uP~T+~s q ~ I PR{~ ,`~ -~ . ~ :~ aR~D,~Iy ,. ~ .. ~? s . _ z e. ' -~ ~~ ~ t'' i' f x ,. p ., _ __ r~ - .,L ,. l~ 1 ~ ~ P. n.:: ASIGI~IIRE ~~ .:. ,. n. F Sa` Y -_, ,.. ~ .t r ys fitr : 't~ >< r. a . R~ i ~.; ~~5i1 C.°3 ~Ci".p p ~, _.. C6P ~ C. AT(lR tl ' if 56 E~R-~ ]~'i"h`' _ ' ~ ~.. ~ ' - ^ ? < r11~i y .s F 4 ;: Et1 ..: ~ ' .. .. ~. .:' ~ '- - - Mr. ~ ~ -. ..: LAST u' -. (FIRST M,li' R,'~ks~y ~~ - a ' . . ~; 4 % k ~ ZIP gt~~~': ~~ ~~ - x ---' I t ~ ~'rM ~ 9 ~ a~ ~ - L~ ~ ~ ~ I'. - 51GH{ik1R6.7'xfA '1~trs~1 7x > .'-`7Y: . „ ~ ~H $ tiN CO-POR A NA RE I - - L `~ ~~,'~' .. . I F yl ~° NRM ~ ~rlnce (! t !1 V?~OiO S'1'A [151NIG AI'PItnI,iAL Sh:RVICN, IrAC (717) 34,WIIN11 lgs INC ru ' , ~"' ~~ , . , . elaitna(r~al>zrlth1ic11Nprtl)tY Atrtl! 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AV b:IiAGU; ~ ~~ • aCJ _'l+' llhl~~ I'~']f t1°- I.*~Ilt errrr'.kntvxr J9' rprnl.(:vlnKrnl.llrr SUI~'fOTAj, ,_~' ~.?•S~G Apllrai-er; ~ sAr.e:; •1•Ax ... r PA Appwbera l,iaeae Nn. l~I b~'~ ~- ('•nPYtn(Iwrrr /~~,?•Oi(~y_~-VIIIIILIIV --,_ _ C C~ CS C s~-~ c + -~, a-~ n1 \; I~ V a ~ -~:: _tr - - . -. _. .~ ~ : _ ~~~ Yo ~-o ~ ~~.~,.z ~ _.-~Q= ~ ~.~~Z .~~, ~ m . i.° ~ O;p.. in . ~ C X~.~ . _ _ ~~a< C7. C7 H ~ , ru cn w a ~ f'~f 9 , t 3 ~ ~ b _ O ,P ~ ~ S _ 1011 ~ z ~ .. ~ _R}' a r _ T ~ W ~ Z ~ ~ C ~ . Cam:: G7 . ~ Z z - ~ t !+ i `_ Wj ~ ~ . ~y .~ , ~ - ~ :~ _ ~ z = 2 _ ~ ~ - - °~'`` m - ~ to '~ M - ~ - 2 ~ Q ,~ X.~ r, - ~ ~D~g ;..,Iti -~,,,.N r ._ q y ~ 0 D ~`O -: rF N -_ ~A ~,_ - mow. v`' _. z _Z ~ ~ N ~-i = ... '~. O v O -oN fi' ~ ,.O - a - C ~ . ~ l ~ "" a ~I~- - wI _ ~~,; - ,~ V VEHICLE .- _ - YEAR •, l • ~ MAIGE OF VEHICLE PRIOR TITLE§TA7E I ~.'~.ODOM.P „ I ODOM MILES I OOOM. STATUS^ uATE PA TITLEb I DATE OF IS~~1E ,.I tiNtADEN.WEIGHT GVWR ^ ~~ ___ GGWR - -- _ "--'-- T ITLE BRANDS, .. ~K l -t?`T = ODOMET ERSTATUS~. ~' '~ gyp}`` ~ ..r. ~ S..ACTUAL MILEAGE ' . •"' .it_ rT t . MILEAGE EXCEE b9 THEMECHANICAL~~ :~; r :: -- ,: -' 'k ~_ - > t u~r r (~ + y ~ :-~ 4 -; '~" ~ +~ ~2,~NOT:THE ACTU A 3-.NOTTHE AGTUA AGE ^ ~.. j AGEOGOMETER ~,.. f Tom. ; ~ 1` REGIST>r REDOWNER S '~ ~ r -°r ~ ~~ 4 ! ~ I _ ~ TA.MP,EPINGI/Ei~ d~ IXEMRF FROM D ~_~ FI - J.,, t 1` DISCLOSURE J f ,y ( .. _ L ~ fl~`.-. 4 ~ i'ifl R R r ~+~~ f .. ~ -~ A ..ANTIQUE VEH ICLE. y . . . r ~~• : ~ t ~~ J ~ ~ ( D:~ - 3 C . CLgSSIC.VE D . COLiECTIBL F O U , E 'r;~ mi ., VEHICLE ~ J~`` ~} C L A R L I J 7 C D~ L S_ T ~ ,~~ ~ ~ 3 - .~ ~ WT OFCO G• OfiIGINALLY 11 GISTRI9UTIO TRV. •: 7FG0 FOR NON•~1 5, .. j { , - ~ 4, _ M rI .:AGRICULTURn L .LOGGING V~I _ y AALt VEHICLE~~~y WCLE iF' ~ Y ' '~ ~ - ~ ~ ~ ~ ' P . iSAVAB AJ CEYEY / a IRECONSTA TED. ~b*' ' - ~ S .$TREETfl00 ~ ~~-- - T. . RECOVERED EFT VEHICLE ' ' ' - ~ - FIRST LIEN;FAVOR OF: ~ ~ ~ ~ .. ~ ,• - ~ ~~ ~ V ~ YEMICLE CQ ~ W=FZOOD VEHI INS~E7SSUED VIN. E - .SECONDiIEN x.:16MIASA7AX .~ 1 . ~ ~ t4 ~ 't~. _ ~ ~. : ~ FIRST LIEN RELEASED - ' I _ '` ~ Ir-a amend telnflotdx Ia~Lslod upon aabsfadlon ~ol the'fi~ IienhobBC mua~forwerd Ihrs Tdle to the Bureau of Motor V appropriate loan and fee I: st Iles the IvslrJ`. ehiclec wth thin" ~ r r {LATE . ~ , ~ JJ ~ ~". -BY .. ..; E t x~ t ~ _$wilY S EN'A '~ ' ~` ~ ~ off' ~ ~~ hL1{ • ElF1SED IAUTHORIZEffR A ~a x..:'~' , _..{ . ~+• MAWNG ADDRESB - }4~:! ~' jpq. ['BY AIJTHOHIZED REPRESENTATIVE. LEflN ~ ~IDRRISflN 251 CLEMS©N DR ~,' ' ~CtCRLISt~ PA 17D7a3 -_ , r _ -. . _ ~ .: ~ - I; • ,~~: ~..,~. I candy ad.~ol the dattl:of-'YErfud;~Ule oiliclal records bf tF+o:{'+eifrisylvania~~DeperhneM. of Transpaletkn refleet that the ~ Ixrson(a) or m n r ::~.:~' "~".- '-. 1 ~R ~~ ~ ~ ~~~~~R~ • ~ L :w pa y named bereln Js.1he lawlul ownaf of the said vehkle. - , . y ~~~~ r.7n'~~7s~! - . ~ - . , - .`" ... _. .. 8rcrefaly of-'CI'&nsDOPtstton AJ 1~ ~'~, SUBSCRIBED ANDSWORN~.. I ~`'-~ - WMn epptylnp for tNle titlh a coroN!Mr other~~Uwp' our s TOBEFbREME: Ihdse ¢IoCkS: I(f10 blorJtis'Cheeked . Y po ae;.ehsok One m MO tltfq'.wlll belesuail,a5'Ta~ nls•ln Common"; ' OAY , ~ YEAR ~ ~ A ~ Joint Tenants wll(1:jilghi of SytRiivorship (on daalA•o( Oh~ owner, Gib goes::, .: .. toNts auMWng.ownap l ' , ... .. _. ~.. - R ^:Tirwntr.~in Comnwn ' ~~ - ... tan a.r<ih:ot rn,e owner„mtereat of oeFOSacoowner 51GNATURt OF PER90N gpMINISTERIN60Afli: '. 90as~I0 hlS tlr'(iBr llelfa'bf eSlete), - -~ _:. ~. :' ',...: - iSi LIEN!DATE: _:.. +. ... . - ~ ... .. .p. ' - ~ --~ IPNO~;I~N,;CHECK ) 1ST LIENHDLDER / , J Q ~ ~ f ~:.? it ~ {,.~; : ,STREET,.. .~ ~ ... , „ ;_ _ : ~, ~ ~ ~ •: ;any ~, :. -, STATE ' . ,: ~.. .:. ;~~~ ZIP ...:. . - ...., .. J .. °-- ~~ FINANCIP,L INSTITU710N NUMBER Th6 undere" = ~I 2ND LIEf~ DATE ~ -" gnedtAafstry.rosl16sAppGCetlon for Cermkere of Tnq lo~tNa vehrcl9~clellcdtiad- - • IF NO:~.IEN,CHECK , above, subleat to Sbe encumbrade69 and atherlsgal Geimi:aetdorthttarp. :: ...., ~ .. =2ND UENHpLDER -~~ , : : r I sTReeT SIGNATURE FAPPIAGANT ORA ORIZEOSlGNER afTV .. STATE` , ~~~~ I~ ~ ,LIP __ .'~ SIGNATURE DF~O APPLICANT/iITC~D1: lrlJT}IORIZE0:61GNER ~~~~ ..FINANCIAt,lNSTITL117pN NUMBER I e 1 t e i 1~=li~l~'iIP~F>9a~wle _ IrAx t~t~ ws.aaJlJt tiTAItSIIYlC AI'P1tAIti~J, sl~trylc~t:, lNt;;, CIIIimYQrllllrrislk.pprcolq II rNlt - ((rtrv)• (syVfpHk'pl - ({Ult1C 41d91,ingle~tuvm IinJtr{ Etnrrisburg, I?11 ~ ] J ~ C(M(Yi~t:7'&TNIS FURA7 FDIC AI,LTU7'AL LOS.SK1 nwNlat ~_~,v~-l~~~~Sq` . _ - h~ml1+ n 'a~ y -~•'~SW~.!V.'IrnVnl ^~~19ymly~'as~t//:{n/~(~'11111u Nx _(/ _ Yc''r~~-r Mak,: -. hhrA{~I~~YAIA/ 6LY 7~ 14{ Ins f u. _ ..,~-.Q Aat11YlN AIIJaxl~r ~~ R - ~~~~~ c. 1-~.-. ~ i - _ t111,rurlr~P,-eacl-~o C ilic {rnu r ~C_ ~~?I'~~xC~~ ~/ ~r ~. ~ n t Mltaga; ~' ~F-s4(r J_L ~ _ I.:ralmu..ln S ~/ _ ~~I:IILan--~-I F ,~ _ t'EKM1551019 7'p Mt)VR FUK ~ ~1CKWn, Shdla , AFTKF.F,tr1N41ehtxk if ItetluratttlJ PelniaiNN 1! Mn,v i! r • ~lw !Iw hl slxh tRr.renu of rq,lavggry eiRrRrl,rYrn t1,. 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L7 J WAMI• ` MI'Sl' iWn)AtYlajK Ay,~l1 'rnWl•~ .~ _ - _ - ' ;2 At1Rgrl.Sv - --• .,_ tll Ifl:lt_~ ~ • .- ~ _ _ I.11(Mt1.0 - . ~~.~~~/A~ ~IIN lalyl, , S.~L/~'(letrhl.~p, y.~ -'G6~ ~~~ ~ r I rn rhu~rnk.,6~cr y - AV$KAl:1S l $ . 3tl~s '~ ~.,~Al/!+ ~ ~~ + I.F_9AtIr,IlY.1/1tIkN1 '-" ~ r / °• 'f/l~•al-+cut»YVA1.unS SlJli'1'O't'A(,, ~) ~ 7,y) ~~' S 6 •ucT~ 5~•O,YC i~~ ~~// `tA1,EtiTAX -+--+-F-- -_. -A- PA App!•plaen I,irt+ule PII-. ~i7 ~~/~ /`, .. !~ups to ()wnrtTZ/ (~ ~ ht* t :t ! _- . . llntt.ny - _ ~'a' ._ 5~ ':~ I , By '. '! ~tlNG.AbDRESB.*~ f ` ~~~;. -4, . ~_= { %`~~. ill-111-1[i~~i T ~ _~.-~R~: f `atirEOf~s$u~ uNLao~rrivFJCrm ~ ~:. ..~ ,« ::i ~iKWR OCWR r~T-t' - ~~,~ TITLE BRANDS~~ ~••~." f ~ "" ~ M S ~ ~ ~~~~ ~ ~ U ~. " ra -O ~.. . ~ - IXEMf?T- ~+~~ r .t w dM~ODOMETER plSClp30RE r ~_~ x BB IC i fi_ F R 1~'ON.tI S_ y - i' cunt. S ~ FS N , ';~ ~5.. r ~ 1~A A~LICE~VEHIC[E - ~ _ r~yy 4i UC7ED-. y~S C ` ~~: d~iD " ' q~ ~ D~NLAiNS.REISSUED VIN ' ' h~,~ q~.. 1E ,Ya ,~ x '~~~~ _ Y ~~..-t+r ! _ _ S~ ~ 5.,., ~ ` " , xR , - . r~± f '~ 7 - _ ~ . r ~ M. ~~~HStetl .~ :. m r;- - r6 ~ ar ,• N - ORIT.EO;REPRESEf(TA71vF " ,~~, ~~cpyp `~- ~~ ~ wsh~ '+~4o-W,.+' iv - - UEQf AFI FQ~E6 r i DATE - *BY r. `. p r /~~• ,; AUTHORIZED REPRESENTA J 1 r ~ - - - ,x, ._ c - ~ ,. '~ 4 i ~ - _ 6 of ~uua~,tha k~jdAr4COrf1s oL tlw PanneylypNa' DaPartr+went r ~ w i 't~ alt -. . Vugthe~ hm _ '. ~t~k.Ca'~ ~} .rip 7r mpllny 1)smyd narak, f#s,Uw lawful er#,i+ _~. U i _ ., ah', ;. ~ ~ r'~"" ~` :'~ fl ---~- =- , ,~ ~= t ..... t , r , ~ a.~..~yav Irnx (711j s4~uea 57'A1t11NIL• AhPltglyAL sFltvl4` . eletnlaW.>tl^nlni~tp~-cunt dul'u • ~C. ]1V('.. 1u7. (:a J'~-",tyR='trei,-y` rr~r,ty ts'yl,r~„~I„f._ lrunlh Addrraa 43d4 I,inglcatown f{ond A~i«~I~r-'..-."° „-~, lIurrisburg, P~ 17112 - -"-- ~~' ~!~l~ WMI'I.R['L Tltlc ~pww Folt nl,l, ya>rAl. t.c.-tSY.ti t1wN,:k~ ~ m.ww a Ya.. r~- ~~ ~"~ ~ - - f'Wn.atl,l ^ 1'vtlytlkata 1'WinNo - - - - ~~y,~ ~/h/~(~I M,ItMI '~•~/ - - rxu lwo / l P • L1~Cr ~c z Svitllr _/~d~Td~«(f~,~`r~/•~.~ Mtlp~-~I~ts~ ~ Iledy~llYk~1,. ~ya~Y I.rrwivinn ~(11d~.~ lir~iq ~'~~~ IrRU - Im:.e.Nn. ~ t'vlln,.rL~G_ MlSSlalv'r>v MII)vi; i'•Illt tiAIIR A r - lnaµdi,to titic4n P<~ttlina In K ~rf f NC (yak if reyucylel) ~~, •7~,,//~~ - M, nltlglltrtlT MLllapapll.rn+TN11KYtlRlWM.W(M~Atrdl'RlalAtllM.tb{elltl +a•wgxtl._ -'-w~C `t'nlit Iltlrt r 1r.cvlti [frrornN t`clrirlc 1 SaU 1 yx r erulk~h tlf t1lvr,endip Is. Metl tnt.rl~e ,~,mnln wild Idtl rlMrrr a1N11 a Gmnr.u of t'm . - Ih M11An n hcrrd• -- tr ~- - -' ••_ - .. 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NAMF 6 ~ryix4vtllroll:r'71d Wllery ~ - - ~. - -- -- - -- Ui'1 Hl! ~tl'@NY [:Itdd ^ Ltwllca Ord - ~. - AlH)xll:i.i - __ _ ~ ^^- . l1~HSMnrIVN. nt. ~ _. - - olNMlt~1_ •. _.. ~ - Itailtllq (N'~INI [, - t,'tt.l -_ - ,- - `. Wul,l~l s 'tttcl U Awry Wncnk ~rcaial CnYV= p _ -- - - i b AM+B 0 1'MY I'wLiL 4 - ' - • _ AUl)HILSE _ Vflll~x ~ - _ - _ _ - ~+~ ~ rINAYI'. 9 ~a'litll' 7'(;lA'IG: WIt01i11A1,c~ - _ - •'`b,r tllnNrr I] ~tlp t7 IMIw.I'IxkfWU Cl ~ Yy L/a, ~`., frM ~ifl.liAfat f, ar.l -' - - Av~xn(ir 'T .i _ _... _ '~" ,[P ~IT.1 - 1.r_KK 1114•n..let,1.A~ ~` ~X ..- Iu1A1.(:Inlrt•: v>,1-utY SUtrl'()'1'Al. $ ~.~+~~. '--..~„~,_ Apprlti~r; tiA1.Eti TA?( _ NA APP-'>tlRalx l+reoat: No. ~~+~2,_ ~" --L-- ~ _ .. °, Culp^py - - l~ ~a f t ' q ~~ 1 ,r ~ ' ~ ~ ' ~~-~ ,}^y z• r .~.# Lrd"Y ~5._~- r. a ~_ ~ft j~ ~~: ~, ': ~fiilf > 1: ».~,.. ~~:j °ie - ;iiii viii. .w~ > :•iir i ~'irie u~ - i:i 8:' r r:~.~. ~,. ~`„~ C.fl O V J • .a. .+~ .ti Mtt UA~PA 71Tl-E D,4TEAFtSSUE ,UNLADEN ;YEIGf{f ~`~ . GVWR GC1Nfi :~~. TI([LE BRANDS'. Z.. ~ :"; '7y L. A ,'ca>l "~ a ; . 3 t 7 - ~ 'Z~ kM°' C ER , {rte 1 r}f ~s ~ ~ r~ i l,•q'~ ~,'7'~ ~ ~ ~ ~ ~ ''~t- ~ ~ s ~ <~ 'tart ~ tt *e~~* ~x~ t'i P~, '~' ~ Sn ~,y '' ~ '~A ( t a,~ -.,a a'~~ `<~~5 ~~~ i~t~~~^^'f. ~~"-~~f~'~ ~-v~~~w~ ~i~ ff'~ a '~I '~ m~ r 5 r .th~V 4~~ " -.`~~j~~';s$'~ ~~: '~ '~,~_. z, : ~'~.~•~ '~r~^~e~~,~,,>r9 ~ .,-NO ~I .a ,s y,~ . =.1- E7(EMPT Ou ~, ~ STER@D ~ r ~ -'~~,~ ER DISCLDSURE :. j •~ ,W` _ _ e L ~ EN E ~ ~ ~~ f,,, ~ '°~,~ ~. P ~:IS+WAS AFd.! ~VFJ~IICLE ;~ ~ ~f~ ~F ~<~~~! ~ . „, ri ~ ~. ~ f ~ '4'''iz a y r ,~ °Gw ,. ~.~ - t I FI~S{ `~~1YFAVUY?w#~'~~~ ~it' ~, <,. .: ..~.~~ ~~ 4* ts~~a I ~~ C ~. 4 r~ . ~~,.x ., VIN ~.I x "1 s' ~~r:~ T ~ *~'t r t t -¢~v~ -~~ ~ '~' ~ ,. ~E '~ ~A,"+.f ~i~ ~ ~ yfi e S T,P -, .y ,,.fps ~ ~ 1 ^v t E~$T'LtENYaE~ix. (: ~ e ~{~~,v +t .t ~t 4~`,. BT.muB~,IOtWe T ,~.. r or', ~?" ,. 1~, t pia 10 '$ ' SECOND CIEN RELEASED ~~ _. ~ Al1TtiC7RfZEq REPRESENrATLVE MAlUNG ADDRESS - _ DATE -.BY,~~~ ~ ~ I 'i~_ - ~~ ALtTHORIZEDpEPRFSENTATIy )_ LEON _~ - P1.~RRISOk ~ , 82..RIDG~ ~~-,Y.E . . ..CACtLLSLe _. RA 17Q13 .'' - ~- t. ~ ~, ,, ~ ' ~~ ;. - 1- of -Tr I ~~d , ,(e('u,~ °'$ ortic~ar.ecor~x_at cna Parnsvnania Depanma~t i~4~.L:EN . D. BIIEFiLER ~• =d lhe~eald vet,tde P&~I6~~bOmPa^Y'"°^t°d.tymec~n~helewhiY owner - _ _ ^1~7 7 ~^ rs- ~ - .Seck'etarv of ~ncmM.N6_. .. IBSCRIBED ANDSWbRN . ~-{ - If:9 CQ~t1! FOR E: ~, _ - ~ ~ be_t( p,a~ ,~. •.. ly, '~~ OW YItIE - Y.. Z 'Sh ~ . 7 1iF 11 ~ ~ <~ NY ~c,~ 1 ST T~F1JN0 Y ~,--'~' _ r ,~ 1•IANCIA6.INST ION'NU1.16 r4. ~r•' x3y '~ '" d ~ Y 1`:~r ` .t ``'~rr '' ON '_ _ »:~ ~ d s 'k^~3° ~d ~ '~°ti°'^ ~'~"T' bCS"F 'Yqh - 'IF - sr - 1 ND {.1 ~ QI$T §AN (IF REQU ~Yw~~, ~ tx ~~» ~y~•- l 'L-'i .4 .'R aTt~t U~fr' 'Y ?Y~f , il.,~s2 A ll I ~ ~ ~-. 1 , ~ ~ J .: 91 TUBE OF:CPAPP!„~.1gi~~ D~ A~P,10,y12E0 91ONE9 ~; ~ i ~L'1TY, I __ _ •: _ _ _ wnce (n•rl tia_r~~p • r•Ax I~I~J:+~s-aaxx S~!'AKtiINIC Aa1PkAiyA 4KN;tt rlrlpl4nlulettPPr,Com ~JrrRr - i • tt t!-y rylrr~,rll~,,, VICT '+ rNC. flu. ['n. rJl,r-tk ntil-I,r,l 4749 I.inklpsluvt'q R d A~ - VU l~^Irr _ LG~"~~- /~lq„/~,~~~C'AMt•1.~i'B'17[lSPORMF pi[AW.'!' nWNljx~/' blwrsd q n7'A~u~tig5 r //// ~~,~ S7ei^Irr C t.a - - ••ec tn, t.INirn Nn V.~W ~! M^ke /LCG~~ •' _ _ ~~`'~ MIIII^I- I~ie~~ r • ._. ... _ _. alt Pika l (~ro~1•[C (- _. 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'~"n~ A~ fF~~ IC` 4 ~ N •4' ~~~ t ~~ ~. vEe~ ~ ~ ~" „~. ey. ~ _ F ~ ..>~~n+haA cE:_ushtcLe 7 ~: Y(r r ~ ,~ ~. ' ~ i ~ ~y} ~ ~ ~ +y~d ir'rt4 ~~i ~ ~'` ~ VIN~~r. ~~~.RR&r`uEr7~FnvCJR,~Fpk '~ "`~ rk~~~~rir•7 `~ ~~E LIES - ~-. ~' '~' ~~'~' 1. a4 x- i - ~k- ~r}~fi", r' ~ ^'~"_.:x ~•~W,.r.-~. "r~3~ ~- ~L~ Y'' 'Y~.M;'jZi4.~ ;r I - _ Y.}~ ., iii' .•. .: e ~ ~ t ~- _ ', r a ,:~ ~ ~1~~~ : ~ 7 '~:, . -. F 1}5 fl secpnd ;~N4Atlolduta~~SaylU@~~' ~ :~ ~ ( st ~:. g. z , i ~ ~ :~ = 4gnnblgpi must fp~wa Tiry~ttb' ~ , ~ ~, FIRST LIEN RELEASED • ~progdsee foriseg~ff.lo ~ ~~ k T.+ i?ATE:; ~ "~" ~ :y ~C ~ ~¢c"9 ~ { t v ~" r~r, r~~.~a~yr.6~ ~[ 6y SECOND LIEN RELEASED' ~ ff[ i _ ALTTHORtzEp REPRESENTATIVE ` DATE t -MAILING ADDRESS ~ _ - ,''-'~ i - (( Bv= ,: _ I" . T AUTRORiZED REPRESkTarpnvE ' I ;mot ZEi~N C ' Mi3RI~I~S#31~ ' ~ . CARL FSC~- PA b?B13 ~- ~ ` - - .- ~. x = ,. , .. z ' „s o ,~ ' { I tertMy es- of Ure date of r55u6, the -official records of the PervrsyNenle Department ~;~ i~ ~ - D V ~"_.1 of Trenaporlafbn rglkd ihet the per on(e) a companynnmed.herein l~•Ne la+dul anner .. R +, olthe eaid.vehlci~, d. - - _ .`>~ r .. SU9SCRIBED AND ~ N. ~. If 0 CO•~1U~C11P69F Pt~6t tf18Fl yWf6~Qq '" .Blld y~ !#1R ttd6 t0 ~..~. .TOi6EFOR E 'r . ~ ; § [6tt ethMt~ 4 b9 h ted: as 2r ` R ~ ; ~ ~~+p ~a ; , "~'"~'j., ~ovr~~~~"~Yy611 ~(~ ~a'~T`wry~' ~ '. FBhiR" 11 agA "- otfe ~_:. ~"'" a ~. ~~~ - e~2'S rl Y a"HnTt'lfe~ts¢~ ¢ 1vr. "tenants "ro s,"~ e. '9 2: 1,.:,. 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SIGNI~TUAEflFGdAPPraCUaFFRR6bF'wtnNOntiED~etGNEa = FINANCU+L.IrySFNIlTIDIJ~NUMBER,.~=~'~ ~~.~, ~ - - .. , , .. r .r~,r.t uv„ 4,1\ 1717)SdS.d~H ,`i'I'A1~1hil:Ai'r' clahn. i, , I itAlSAI..~tzVjc~:1 rNC ~~tti3ryinica / u.rr,w ~(rtru IIF•in.t: !; yui~1111ettF rclumc ~~49 Lin~rlr.;lpyyll .Kuntl 1 hirrisn>rt~br pA 171 I ; !m". C'u. ~Ittl~~cnllrln AdJoytcr -- Sc,~,,~,..~ >-~... a ~ I,u VI K I•x1i hArrcd y .. t1S:t?I (.,:,,n A;I!Zltil;utt ~/ `t y~..~IN t kun>,pn n Y\',rt ~ ,M~krR~JLZ`~M ! ~~/ !, f t,wnmar t u t I-n„ No _ ))) iMVro.T~(r.t•I FL~ - ur.lnl.,r ~t_-~.u_ol-iu ~ •'~,I u / f'~ n, ~ A13~. v t~ ~ - ISnrty2:tr4 ~~~~~ Ct_JDB .~~Ly 6'~ct - iM:lu,t;~• a-9.t -. - '/~'S'~c~k~ Ct;tit! . - 7 Iknlec Nn LU r± ~~ rtl)tlr~/ ~ Ig011CCh011 I.in:dlrMl , ~+ ~ ~''r'L« L°unlNU, \htttrt _ U4 F:)tALI_ i.t It~1)1'1'IC)pf --. !^ han~ y ~.~t~,)000 Valati Sour<< ,. Uld ~ - . ras (:w,r I+nk rux ----,._..~r (;ars C' n~_ 1~~•••r:RS_t,r,,,,,w y Cucdilivu Cla>tj '-' -•- ~ U ry ~ Styles rahlo 'llru M(ti~l n - ----_ Ar rl q C'uultnculs --- Yarm Q ___ ~~` - /~ L'1 L -- luN•ryw O ~ - - ~ rl o -- 12HtiS Ill UltAhl) ,. .: rvuad,q I:K /1'3 Rm~hm,~ 14K -/t21uu~NUp~ •• ^rIJILArr1(lllh Valuy 3vurctr '-'~-- ~~Itfll{ill'Ufi --- --• ~ •~•-~ r' '~~~ _ o i~rn~r~:rt (~tlp~~ni'rl~NS -- nuuKl-,.ti L _-"'s d n~rF;kA~:N c~~L.~. art -~~ _ .._ 1 h.1Ml. ~~„ _f _i Ab.lUti1MF;V1•ti AUUKI'?y: ~. _ tilll;'r•pi'AL r111UK1~`:1 _ -• A pirn,ir~t•' 7 /~ I'rl ARPrIISlfS IdCCO~'SP/IYn. I9~~ t y • ~ ~~ dD~ -- Y '-- ~' ---•~_ • ...~- t~~ •_ <.;bliy Ili f,,rarr < ~ C p lu.. C_wul,u uv ~_ J~ "w "a~ ~'~-F~y~~ E~sO F,~ ~~ T ~- F C3,~~~ A ~ - =1~~' `~h~ti ~ ~:t... ~ ~ { ~ ar• ::;:: ~i i .~I- :;:1~ ~iid^ - -.::Y~~ ^^ :~ ~" ~:. ;p~ .~'7„ ,~°~ ' _ ~':R,•t 'M~~ " W ~Yi~ .~ 1. _ ~'!^: ;. '.:f .:y';.:. ~::;w ,`~.~~ ;. !tt.. ~~,,yy - .taw ": 1. .,. Y...ry..l!llt...,,~- ......... ....... x ,.... .. .,.. C[ LZ' .,.., . .,..~.~... ~~ ~~}},, 5~ ~' y~y~ ``~~,, ~~ ' ,.. '„ .C. .,.~~.. ~~:~,, ~~~. ,~.. ~~ /EHICLE IDEN'jIFlCa'FmO~ NUM06~i $ T7~ !~ ~ n fir,, "" .: - ~ ~ .~ ,d. _ •:. ~y-1~~~, fah ~S~tk~~}.~,f,~u~"w~Mg~`~ v BOOT TYPE iy~P~, ~~~EA'~~AP - lT P r ". J/ ~n7 C dry( '¢ Xx .w ~ ~~~ILE3~ ~~~~"00~.P4TA'CFIS;'* 7 i T„1 -k~ {3 Q'. '.:7F'~AC.::_~~~~~.. `' I ,.e nts~' 'Js .A ..P. " ., ~ ,,. .' D TE A~ TIT LED -`~~" DATE OF ISSUE ,~~~ -. UNLADEN WEIGHT _ , GVWR ~ •~.~ ~ GCWR- ~,; -~ '"" TITLE BRANDS ~:~ 3 r h.. r 3, - +~ Y ' z ~' ~ t ~ '. ~~ ~' r~ ~"a ~it ~ t ~ : t7 `~ ,a >~ ~ ~~ ' r i~ . , 4 c;E%EMP7 EA DfSCLASURE .f ~ sTEpEb o asF, ~ r, a~„ , y~u,1 x+1'16 ~~',~h~~ ~;~' -~ ~~tra ,, ar' „3 ~ _ ~ a IRC' ~~ 6. -. ~ ~ 1 _ ~ ~ ~ O 1~'. P ..JSNVAB A YOUCE ~~' ~? ~ 3" .A3R. REF~bCTE~ s.,.~i;~ e~,~, •g~,X~~a" V .V~11C(J: tJG1NtAt ~~EISS>:I€D VIN ' FIRST-LIEN FAVOR OF fi~~ ~ ~'ss X,-4~~~ ~ d ~ GtY7 I ~ +~. 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Dcda~ -'-^'~-_..- ...~Cunrrrt ~- ('qy Prlee~ Addrrr _ ' • t~ ()IJ1l llnltl:l.w9'P.i11>Al11Al:K ~ ~ ---_ 1. niddcr _..__rrrtul .----~- _L .. .. t- Is;ddrr~ - -rharn,._Amt„~_ ntn~ALf ASII VA --"~.. 1"ir t Phnrc Ul; ~~~• An>ti.r.rr: ~~A.d_, 1.1-•,jyUtCl'rpknflcrcr _,/~_~ rw A,,~v~r .lr.ru N.. _LJae~-9~ ` 6UD'rf11'AI. ~~btlp, e'l7• - -.,.` Rrt.: _~- ~_ -- c^•Nrl•rxafr :NI.R4TA% (_ . %) -~~i1r_ -" Tlrrwi. t~i~D~. ~ - -+_ O ~a' • J ~a•+C' 1 NCO 1 T I: O I CFrT},I.l},;7)Tl ~'11.IHNa11VTHl.I AHM(1Hfl?I:IUOJ.( CGI:gT. fG1Gl~-f~Gi_t77.J ~~ Q M~~e - ~ :.y _ ~ ' ~' ~.i I~i+s-PFD' w 48-7200 R09/03 r ~ '~ r"~~"` ~'~5 Vehicle Identifrcatioh NumbeY . lrrr -. r ~+ ;"i '` ~1HTJUZRMXJH603558 ~ ;, First Registered ;List Price .. ~ ~~~$ $' ;' r ,raw p, ~Pbi)e HO~Januf tr,t Y~'`,~ 12/1.$8 ,027911,~?a ^~~~,;+;~,~ R m ? f r-T ~ ~ ilss';' - ~ ~j~~ ~~ WELLSFARGO FQOTHIL s, ~~ J~{ ~~r~t ~"` L AGENT ~ ~` '~ 27.27 N'; CENTRAL, ''R~I,E' _. , ~ I ~~ ~~ ,~~~ PHOENIX AZ. `' :85'004 . , ~>> ~ r~~ ti ~• i ~ ~~ :• ~ { .rte - t Y~ ~ ~ ~;^ , ~~~ f fir'{fig rf r} ~~F~ I r: ~ ! t~~~i.'f r~~y f ~ ~ ~' . ' ~ True NUmbEr iii , ~°WW ,,,,~ ~,, Y' 1OU000'41~41~-204 ~ "~ E ~~ ray ~ '~ ~ ~~ ~~., Pre4iousTitfe ,umber ~~ ~~ ~ ~ ~ ~ ~~"~ -Q,(j~ ~ ~ State.=*. ,~r r ,~ Issur#l{~ ``= r O1U00031470:21' AZ ~05272fJ0~' DZ~'~7 - ~ ~ - r J {{ v5 ~ r'~=i ~ /`. F 1 a ' r , > ll 'i ~~fz ~2 + P~eviousBrand State P~evloi~'B~'ncf`~'-~ ?~ "'~'~` d, .r,T .tw f" ~rl ~c n 1 ~ Owners/Lessees ,~ ' .. '~ x° U-HAUL CO'~ Ok' ARI ZQI~iA PO B 5'08- :r ,~~rti'r Fis '~~,'. ,~~,»,+ ; tt OX 21 y ' .. , AyF s -.7- i - ,r: ~ ~ r .. l - f ~_ 1 _ - r,f _, fF :. r; ,,. 'r} Z hf /~ y ~ fir, eGV'~ ~' ~~~~ ~ x ~v9~ r~ ~enholder$ ` `^wF z" , r b`~,~~,~~, , ti " -~'""~ .FIRST LIEN- WELLSFARGO FOQTHILL- AGENT r: ~}~~ "-- ,_ 2727 N- ~ ~, ; F ' .~~~ r. CENTRAL :P,VE ;. - - , fro F,_ SECOND` LIEN = , ;`~fsfr - R .WELLS FARGO BANK TRUSTEE r~Y: 2 7 2 7• N: CENTRAL -;EVE a Y r =~~ ~ ~"~+ - - ~ s s; ,t' -T~ 'F5' YEt is "~~ ~ $11 tIEN'RECEASE _ tienholder'Name - , r - ~ ~~~r `= - WELLS FARGO FOC,1T.FtiLL_Ai'~turr '.- .x.:~ s - ~ 0507~nnz : r,. y Inven ory ontrol ~f r~ ~~f~ :r !. r ~~;~`r,rr ,s ' ~~~ '0.4.x,9509 ~ ri r -EJ~/ a ~~,}""ak~r Rr r'~~~rfr : ModB~ : ~ Body Style • NAV T K n i~ ~` ° ~r ,~~ ~;w ~ , .„, Urnt Number ~~~ a ~~ ~ r ~ r~r~N"~~~~ " . ~ - ~ ~~r,t ry ~~ JFI 3~~~9T t~,r r!!V'~rlr~tYic ao ~: , Mrt++al~t ~ .r R ~ 1 Y Me7/ i~ ~~~` ~ r ~1~f' ,d ~r~r x'Y'~ 1/fit ,~,~ r,r , ~~ f r c ~- . ~rs~ F r - ~,aF ,~ ~~ I. W if Y ~~ ~ f r y~3'kE ~ o~ ~r4 " .wL ,.r!G1rty ~ . of r ' ~' ' ~ '~'~ ° et ~ ding (ho tenths) ' ~ ~ ~a~l, ~,~i; ,~ ~ ;,. N +F'~il h4"i'be~ ~ ' : v i A AcWat MI g~.3n ~~ . ' 8 - Mlleage in excess of the odometer mechanical limits ~~ 0 0 7 C - NO7 gctual Mileage, WgRNING ODOMETER DISCREPANCY rd ~- ., _. r J '~~~tan3 1 Y '" ,~y 111+ r t ;,,State'] OtherStates LVith i3rarlds ~,r ~; ~, rlY a ." I - ~~r~ "af:l. s ''- ~ F' AZ :8503-6 : . ,r e s~ ~ j ~ ~1iF. ~ . ,~ ,e ...r 1 ~ - k• ~~ S.a - I t~ ~ ~ t -. Y fdl F r1- f 'r, 7 rr~ 2 7i _ ` 1 t . /s f J I j~ ~ zrrr ~f ~ Sf! K4~ ~°~a .jC pgy '' ~~ ~~r fdN ~.~ ~ J4 w~{"f e~M LIEN DATE 05072003 T _ r ~`~1~d~ f' s: r rl r f fj .. ~r e! Pi s I ,r~ ~,~P _ t, r ~ r A Z 8.:5.0 p 4 f Fkt~ ~ >~.IEI~~a~7A'PE ,.:;0,310 20 04. ~" ~ ~f.~- ~.w ~~"~~` AZ 8~S(?04 ~ ~, ~~ ~` .~ i ~'hp r ~ try.,, .w,i~,<r' .. r. ~..r..,~_ .. , `~ u5 ..;; ;v,~ C+inVdQft?~ %to avn~d,}3~~.~rFty S r; An.;rE~,; ,..t ,.sr,t`~>.r~ e 'ski 3yl!' - ..--nr,-., / ,ii i/ ~.,--- - ;i':~: ~~ ~4,~49~~,ii~glestoyvn ~Coad' ... ' =~~.~ . t~8) 933.9894;~1t:ndt>r{7x1)`~5~4Q~O:1~Ax {»'~ 545-4(188 . Augu~1 19, 20U~) '1'0: Sandra Mcf'oy From: Jct>FStarginic Re: I_st:~tc o1' ~,cvn Motri,~>n S c~~,~c~ .. t.~.s ~~- 3~ Ucar Sondra, - discu~~ud the valuo and ix-adilior~ ~I'thc trailers in yucstian with Tncld at Ali Prn Wcvt. I-tis ~tumber is {7 i'1)795.91 1 G. 'I-hey st]CC:iali~.c in the plc of new and used cargo tTailcrs. Helpw ~~ the vaha~~ f feet sh~-uld be pres4ntc;~t vn the trailers. 1Pyou have; xny yuostiAns )r1c:a;a: give me;; ca7i, Yours ~ntly, Jeff Slarcinic Starsinic Appraisal Scrv., fnC K88- ~).i9-9$94 't"kt11 I.TR S; 1. 2. ;1. 4. 5, 2{H17 Car Mate, 7' x 1$' trailer 2UU$ ltoadma;~tcr, 7' x 12' tr:~il~:r 2lh?7 Carry tfi, 5°RR' trailc,-r 1997 Pecluc:a 8' x 2p' traili~r 199t) ~.u Matc 7' x 12' trailer $ ~SUU.UU ~ZSUQ.()p ~7()tl.()(1 gl2Ut7.UU '~SUt1.(x) ti'i~d 0b£LZS9LZL~ol ~br+bObzLIL ~~NdN31NItiW 1.tiMOtiO~l~wo,~~ 90~0t 6002-0z-~nH om~ (Ti~i ws-~ooa ~ ~G~~'t,~l~ EaX (7IT~ 545-4088 n ~'AK51N1C AI'P[WF.Sg1, SERVICE, INC. Ins. 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PA ,~pynliycry Lknntc Nn. ~ 7h copy to Uwner~ ].{ r l C , ar_ eelppny S,9'rl Gl1-iS'J aC9J ZJ : o I A00244 KWEBC416A101 REGISTERED OWNERi LEON C MORRISON 205 PARKER 5T APT. 1 CARLISLE PA 17013 MAIL T0: LEON C MORRISON 205 PARKER ST APT. 1 CARLISLE PA 17013 u,c[ numo[n 001 KWE VS 17' 2"_ FL9832LM 82919068 DATE OF ISSUE 03/24/2005 IIEN RELEASE INTEREST IN THE ABOVE DESCRIBED VEHICLE IS HEREBY RELEASED BY I I t TITLE DATE ~ ~ tp7 ~ au --- ; s c .>r nt n ~ , tn.wr~ylg~ IFIC ~- Ti ` -~5 ~E Sy ~~Y r i _ 'i ~Id~l'NTIFICAT 6 MB ~•' - u" i ~ lug YR AKA M - VES REGIS N~=- ~~iI1rCE''NUMBER KWE8C416A101 2001 KWE VS, 17' 2" FL9832LM 82918068 PREV STATE COLOR PRIMARX BRAND SECONQARY:'$RANa Nx Ems` ryO:OF BRANDS USA PREV ISSUE DATE ~~ ~: €...~ ~~~~FJa 11wa~4.~lui rv~i;l'~~lu~'fli~ ~1 ~ .-rr'd ~ ;:, :-~ ~-" ~,~~ ~ T"'~r udp' .,y~L~7" L~ r'~ODOMETER~ STA'7USFQ~ V SEG=~ANUF O I~u, N ~ . ~~ r i ~s ~ `~~ }" ~,F:• '~^ `I "'"~ rv~.' ~~r~~~~/~~~ _~ _ 'KEY WE$"~ g~; ~ ~ xl,!' ru ~n tl tl iV ;"Il luii'Ip , sew ~ : F aif T>ERIAL~!a +~ ROP t^ a e Iu, E iAFiSSl1E REGISTERED OWNER" ~,u< ~~o _~~ -~ -- ~a =+1t t- ,~~~'~ .n. ,a~~~~~ -w,e .t LEON C MORRISON uEN RELEASE ;209 PAF!~~#, ~; ST~,~p. ,;~'~~{p~T ir; ~, ,r AD c~,u,~r n~ i ue, y.~~yl i .._ 3~~ ,y1Jf~t, + ~'+~r q,g~ ~px~?°` ~Il~i~,I~~~°,~.„ {r'a~ :y,M~~ 1NT STIN~HE ABp~dE DE$t:•RIBED VEHICLE I,S ~...R~I^~,9yy,.G ui~~~1~'~rW1 P~Pn~''pMhi _ -,r`~f I°tj ~#r'_ • ~~ '~;' ~NWu al J'INn""' ~,klb il4~t.:'ri"`"h'L. FIER'L R~~AS L c~~ it ',~ r G ~, u~ ~ i~ x --:~! I/~~ 7q r ~.i ~`~ ~,'1!'.. ~,". ,~ u,~"~~ '~ v'~syfu5.. - ~Il l t --_ r. uW u i o+ iM~,r+ 7 n¢ i ~ 1r S /~'~ --_ '~ - n- wr .(`~ n°In.BY J-l~f ' ~ Y ~^ ° `u,;r ~'u~w ,ii ~" ~" ~~ dt, f~fi~~ "rte h~~' e T "~ 1 i ~ A m -: _. - wr, "~ ~~ wr"p it '~"af~''m in - ~~. ~' ~~t#~ ' ImcJ^'. '~~fr . ~' P~Ixuu N°' = f i _x - . d_,n. 4iu,! ~R ~L~~+` r+. 9 +Yr,,~ +d"~~.'tllV~~ll. M '~~ ~'~~ _ 3. 't i, ;: y TITLE DATE " ._ vy ~ ~. ,._ _ ,,X+d~: ~':waG' .~uqd 4:..rr r~~,~, do a~W ~'`•,, t~'~t _ R a~~" h~~~'. , _: -' -1 ' yti I 1ST I.IENH~IrDER ' ~Fl~ ~Jh4~j ~""~ r;~„nn ~~~' iGs r~~ ~`~'~ ~~~ `l~~i~~_ ~ ~ ~ ~' a ., a a ~ ~ J i ~` .- ~ ~IN~~~r II:~~~~'B~ dr+~~ ~~~ t~u~~ ~', 7~~~3 a'~°~ vg ~/1'' ~' J J J J J ~ J J J J 1 J NONE F ,r~ ~ In;~'I~I'u , !ul'dp Iim~rW~., -m'( u~e~Il~niPul r' '~~,irt _ ~,~ ~~ '~~§`: J J J ~ J 1 1 J J J J 1 J 1 1 I 1 '' ~ 1 1 1 { a. ~ ~ { r rv", «,n~ ~ 0 °+'pity'~1 a i=~ tlr~.. ~ rl'r `~aY/ ~"~~ ,'yyud6 ~~ ~ ~ 'I ~rj~ ' 1 i ' w°," I iJ ~ ~ i~lu a } i ~ / ~~ ~ ~~t a ~~ d~I~ 'G ia'IW , I ~~~ r ~ 1 J h J J J 1 it ~ J ~ r u r/' 'r "wy "~'uTAiitl~~'"yu,t"Y ~EHIS}' ~T.1 ~ IM a ~~prvl is I"p d'C" + u s - - - l~~~sI~did n ,~ I. t r ~~rt j°~ll tl~ A I"'/ , '" n. ° " ..~"~ :+ ~Fj~a~~a. 'a4 3.a~rF . 'gym o ""'~r ut i G ~iI-11~AYr A Y V . -_ wu u>twllr,d ~ MOT 1'EHT.-_ w:~ r - ... -- ~ a ~ .. 1 ~~, i y. _ ~- 7 fi._ I rv~., ~Ii WP ij ii~+n1Y L t q a ~ tK f II d , d"` - ~ i p `f ~ CARL A FORDp ~~~~ ~ Il~~i. 1P~1 ;P~IPI~Iu r.~ b~l^ I ~~~~.~ "r •v ~ ~~~' ~~Ld +~ ~ w+ ~Ii~JI,~ !'~ _~x,~ qty DJREC~OR ~~~i d,rrv yC; ui ~ I-rl~ ytft t7.i:~ ~ a~~ 9u ~ O 1+',~~,N Ohl'~~~ 0.~"IIu'd ~Id'Ip'ie i'~,~ _ _ - )1 4~,, y~:ol »v+ rrr' +Ili 1 A + 'iW,m u' ~~ '~ ~ - ~y ~.- ~ ~'_ -'_ ~UTIV CT Nc t" r ODOMETER CERTIFICATION Fedonl edd state law ragmre that,`ypr~Fs~tOtho.~milaagp irn coonpet an wa~t#1t~~ha transfer of wntarshaP thFa #ure,l{o :al _ -~ complete r prowd,og a. tabs statewent may result ip hoes and/or ~imprisGntnoof. Thia~'~rtw{1>~s wb~ijlYrtt'p ~~{i cartihpY ~,~ b~`4~6p f~~py ~}a xcy ~ no ad p irtha ' it,o ~ {I h ,motor clef i•a Ya(:~tl n^rvw'r rr~'' ~ u Ial~u H N"•~lu' ~ _r, .7-'. '~'`r 7F: '~ 4 .I ~I' uNf ~ io ntfi ~u R~sq,P, „q~ll ri tJ~, ~; iu 'air '3 ~0 ~~~: y~l~'~ ~ r, ~Id l~'~ ~ni°rv I i ~ ,~^,~~Ar~d, t"~~p .~~yT { _ aaLnbLgltis ha aby;transfehed, to i~ ~4 dmd try. d~ ~ an P i _F 4,;e ~ `~ar v_ s~ ~•~ r i+~~ d~~y~, WF r~~p7~~L.-- "~tJ ~~r7 ~ -. ~ .,r ~^dnbt^i~llrc~~~ b~ I ~ ,£ ~If ~ Jr °~i '~ ~y~` N~ ~ii hi Vm ~ r.~~ ~~''" `~"' ~~'dhlN -'hG. s~ ~~~ _ °, I/We state the is -~i r i ~'~~. digit. odomoter'now `rear r {ne"ltertths) '^M°,~ ,~Lrd~Pric~y,~,~t~ ~yt~ Sold miles date read and totha best of my knowledge `. CAUTI Nr,- ~ - that t reflects the actual milpaoe pf the vehicle daa cribad Q1. I hnroby certify,(hat id the best of my knowledge the odometer reading reflects the. _ one f the: odo mat iota ha am, untaas DO HOT CHECK ~ amount of mdaagp n pscoas of its mo hanical limas. - _. - - . ~ 'cde5tt}.hkseks is err k td~p'+°" ..'~° I I del ~ ?t 1F A(a71JAl y-~ - z F , ~ wd,/^k ~,+~`, ~ Iry, V ~~" ,ni#~ ~+[lhat the o tars n - -.. .. F r~ ~ IOW II _ ~e~ ~+:~1 ~'~prgbpr~.,grt{~~ ~R.D R~ Y. ~~'. q; that t~al~i ~e, r w ~ W tw~ Ir a EAGe~ 1~ ~~- UAff1ER PENALTIES ~F ~~RrY J ~iE ~~AT°~~.~ ~ - ~ ~`y *~'~' t ~~: 9~` t- ~ ~_;f ''~~~ ~;~ ~~w'u I~ ~ ~ I E iN OG j 'AI~At ~ ~TF~ ~iS~ A7+1 ~,"~"Y~d~E~-RUE . Si nature oY. ~ 'r;r +"'" ~Ar'~y~ WN m 8~' ~ ~erf ~- +'31S ~J~ ,ar~~~ - Purchaser -- - _ 'd",uxu ~,~~ ,';"~r~ ~~~ :.f'k~+i~l Name'<j E~~~~:-;zyJ10 i~~~I. Jd~ '~y,~~~+" IR ~r$ I...'~'~u"*~~'r - Signature o - _. '.: Purchasac. --~ i 'd _ •+'~~ ~ - uGp-Purchaser ~, - - .._~ PrmSed NLmo of S{~natdra~ of a a~ .II w ~.n~ ~~iWU u. ~~ ./ ~ rJ ~' C upurc#(~i _ Sgller +u"„ ~~. ~II i`II ,'i iu. p'I~u Air ~ J~fi ~~~ Irs Y,R~R~~ p11 f'k'~ y.~n id"I 1 x00 ,Tj _ '_ $tgpafLr~a o lu fl i x;711 nklu I Y n >< - ~ 5.+~ +~r PSI i Null 1r '" ,Y~ ~ ~ r.~ f~i: j rr . C +$,y~lpr ~,~uu ~ t~ h'p"n~"} ~ x~l ''µ inJ nu - ~~-i ~ - ~ rags ~ ~-x ~ ~ ~ '~~rv i f~ , ~~--~i0µ~~ ii~'4 E ! ~ ~ ~r tlma uli ~'I~ 1 ~7 Illp~ ~r a~ (W~'~an. 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IMlll?I•.Ik .41cc1 ICI n11N111h~M1! _~ '- -- Isllft'fO'I'AL r~ / ~ ~ a /~ry~ Alluv (J tipl'.'lel ones r~- _ ~ Q iF:I~1~K,A 1[1K ~rh -7 n\ Aful.o --... -- _ 111 r tiAl,l_ti'[`q~( ~ r iAt•Kti ti'uuyuMrrizul ~' huteer ~ Mtualr{ ^ - _~ ,- - - 111lIiK --~- - - i'n~JAI 1:[!11)4. V.\IIIJ),y - ~-~~ 9... t l~yl~ y`. ApPrafller; ~l q ~y~ - -~'-~1L~~ i)ut~~Jl D' /P/ ('t+(ly Ill f )wuel I ~/ 9 1'A AF11nlItlCh Lit'YMSe ~ ~ / Illy. ('401nuuy ~- -.._ I far ~'~.'° ~e~~ ~ ~r• 1-~ 3~ 4 ~"~ .d Ob~LZS9LIL ~ ~l HOLIDAY RAIVIgLER Monaco.Coach Corporation DATE 3/26/2003 VEMICLE IDENTIFICATION NO. 1f1F14581131021868 BObY TYPE MPV / MHA (MH / AC) H.P. (S.A,E.) G.V.W. R. 500 47,600.00 ~, INVOICE NO. 1059514 YEAR MAKE 2003 HOLIDAY RAMBLER SHIPPING WEIGHT 37,750.00 NO. CYLS. SERIES OR MODEL 6 Navigator 6745-5 N45PBDD 031020674553202-602902 I, the undersigned authorized representative of the company, firm or corporation named below, hereby cer- tify that the new vehicle described above is the property of the said Company, firm Or Corporation and iS transferred on the above date and under the Invoice Number indicated to the following distributor or dealer. NAME OF DISTRIBUTOR, DEALER, EFC. Colton Auto, Inc. 3122 Niagara Fails Bivd N. Tonawanda, NY 14120 If the vehicle described hereon Is a motor home the unders3gnad cells:-- ~~-• •• life sUpport•systems; cooking, refrigeretion or ice box, self- 9UPPIy systbm Induding a faucet and sink, separate 110_'1 ~ E rt+ea[ the ANSI gt1g,2 Stendarda. - - It is further• certified that this was the first transfer N H R Oy 027541 BY. (SIGI CI -STATE B-H Agency Appraisal Services FileNa 0300409 ~~~e.c~;.,~ ~ r :% c ~E'E'C~ ~'~Zl,~. IrZ~C'l?tldYG', .made >;~ . ~_1,-day cf t~Y <-~.......~~.~.~_ n tha year of au~~ Lord twe tl':ca~.sat:d anti six {2i;Oti) .,-------- --- Betwee~ L~E;;_J *~tt,?tRISOV a/k!a i~E:;N 'C. ~"h RT;O ~:;arlisla, isr.•berlard Couray,. Perir.syl-rania, Gl:an;.'~r curd . .. LE^i7 MC?F'I~ON, Tt'.rar~cE c:~' t,lie L:EOtd +^.. fL03Ai~UIQ LIVI?Q+~ •-~kUS'Z' c~o'.t@~ ..^~~::.4 % ' ~ `~ 2COu dTK. amencimenr.;; Che.r~Cc, Gzar.te~ --- , 1rY rt~i~Jf`.5~~~~t :}- r*. tr~•_ 1 ant~r r r anti i n :~-2c; I. 1 •__c,r, , _.l. _.,L'1 cjt: Or1e iid tdgr ],Ot, i,1, J ~i lk~i.. 3.ciYD, lew_twl IY.Ofz'V. f tl:~~ (? ll.:ea rates cf A1>1 .•ica, ur.ti, ),,rr;..v~ ll and tr111~• p.a:.a b/ tr: ;~I°rt rc ee at cr :;,c:Pc're r..he t3~alrg ..sr.@ .aeli~~:~;ry _la:r~o:`, tare rec~ip~ :vh~r3-~.[. i:; iiare~by :sckr_o•.viedryeci, naa u_ra<ited, baz•gai.-:eri a:i~:; t.<clc~, i:c~_~asr~ci and confi-rme~, t~Ild iry tliF_sc rra;;~nts doer p y_ra.nt:, har,air. ali~.i i:ail, refuse ;a.rd con: i::;r. uritr. ; ae Gran*_e•., ~..-~s slacoess::r: ant assigns, :;.'_,L 'iiA3 CERTAI?S (:earl. e land r Tawu.,iii s c.=rite i;l i•1i]c?l~sex p, .~mberlan .cul:ts Pennsylva:,ia• bcuncied and ' „ra :o:.lo+~r;, • ro w.i"r. ~ ~_-;cam i.:ee:: ~E:3I!':N1=:~ i;t 3 lp.ln~ cn ;.lie ;?r1.ClOI~ l`l I~1'1? IAlri::lf? OS :3 '_llr; ~:: :,r Y.a is %i.a t''.~b . i.c ica3 cros r~ec same; fhi,,:ce by la.... - "~ 3 7c t.r c _o,•:ne I aE Harxy J. ,Ion2: ra, an+' f;;, N~ I h ~.; ? do .:°e r;dst 1. "s nFr~ e3 t:o n aci.1L ir; th+,~ [eat.er o~ ..a .. road, ± h._n:.t. 1*: t,ai~y 1'cau P,r,~th ~~ 1 ~Z aec:_ec-s Y:z.st ... r_ _ ~ ~ ~ per Iles Ca .. ~oinl:; _heric•~ Uy _,..>,.: :l.ac:ter :a;'..:1 Ear;>•t}': 1 d~;gx'eE; `:~~ rn.irtlt~~s Ea5t.':?3.3 17e_ai1-s r.~. a r h 1!^ rieare}s SJ ~~ ~.1 t trcnce :;y t- i sam" 1•;0_- a off- 1, ~ ?e_; _rs Vie_- L~. , >>..x+_he., t+, a stan~ o_~ tae .line , f .^hra.,_.e:... i4: - cx ~_:arc9 ETq&" :,,- tci:n•.c-:r.:.y .: 'wcr; _= ence. ;y sa.i.d :Lane, S ;} I~erches r..o a ~Oir.;. in the ee .tee: c•f the-- alcresalti pub'. i.c i•c>.=d; ':.hence: l.y sa'~r land Sc~ath 36-/.^. ri.2^_.z:ees 41est. ;.;cir::. r;n tLr~ C irl~t --' •`t 1%c1-cFe:; tr, r _i;no;]c:;-:x t'..eek; LhFa;:e do~az sai3 C'rer:k, 3outP': 6? ..ere«.=- mast 6 _~rohc~ to a p:;ir_t, t.`.orice `~~rtls.r ci;wr: s,~_... 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CU?.1BERllJJG CUU'JT'{ Irt-#2'iGd1 :2o'i-' - t ~gu 1 nr o ~yv-~ Farm protlucetl by Unitetl Systems Software Company (800) 969-8727 www.unitetlsystems tom B-H Agency Appraisal Services File No 0300409 ~l'•L'''!C, SCllC;l 47 :.'t?yrE i? ~ E~dSt 41 .•7 :~E?Y-C}?e S" ~O t}lE ;Ctl :c'}.'.t C}_ n Y~_:'t; ,.'1° -e up ,:he rii.:lii_e e_ ~ir3 .•. ., r., _.;:~rCl ~-_,/'~ uegrees Fast 22._ F4'':`i=-~ t:, t}:•e plrlre~ o_tegi.rinin~. ~c.,ntai.ning arses ].15 p::rc}les. 3~T;}. ?-ha •aame pre.nlis_a w~n..cr, L~_an' C: ?•t~r.•risor: :Ir_' ~c~;trir.2tt2 lorr:is<<:;, ]^,~sban.: anu wi_e, 'bjr't_l~]:. died Hated i3ovttnber '7, ?.JC6, ran:ai.-3 ~..rg of record :i.il `}lp Ci~p; t~ -of r} ~ '.ecord:~r. o_' ~ _ed.~: iri aed tU" C',]71Lferia.xlU° t..fi].]t~,~ i,A b~•~,d $OL'`K .x.'7'7, .Pa:r_ 3.G5, grant:-td nail. ccn'~e:jc.d tifiC_iJ i,~p71 Iorr.lSOn, ~I1r vYat3tU2' h$rAlIl. ^OGETIIFR with a11. u:ld ':>S:r;~3,ils•r the, 'ruili3tJ, im1]rov~mex~!.rl, ways, stree:a, alleys, na~,saaesi Nat~_r.'s, water-cc)ux::~,5, right" i.`.t>r...ti~>, pr•iv laes, -i~Yeditam~~nt.: ald sl~~~rf:enancec w`at%~~c,veY !:. }'. P.~.'.'t9,,:.3U70 ~elcr_ginq, or it a;.f :wi,)E: aF,y)arL-ain iriq, an<9 the _"YEYSIGCA 8rid _CirtlsiridCl3, T'61t~~:,•.~~1551:A'J c71:3 profits th2rr~rar, ana y.i.;.`:1~? r:..Cdl'.?,'YlCjh~, t1.rIP~" l?ltt':,~CSt., D:CC~1C::i.', U1.331R .°,Yt i ~emr-rr;r: w:latsewar ~f t}:e sairl'Grar.tc;r, ir. :,.:~w, ed~..fit or. ,'i~l'4il yt }_~:w.SCP.~:~n~-, ~F, 1. I:, :'!C' t0 ~}1 iiT.l'~ f?V J_~~,..reof . ~ :amp r: X'V' F)is 7::: ^ci i1;:vP ~7U 'I'O HuLr tl~e -said :I.nt..:or ^iece o` a:r.lnd a~•~de descr.?..her., ai~h 'r.= rle3suag~. cr teliemcn- therv.~~n erected, :'i ~_'rc.d.: ::.d:iiG:'lt3 and pl:•emises hn_r~l)y_-gr~ulted, cr nf~ult:.i o•xed s,;ld it?tencec} .;,a ! c k)e, wth t!:<~. ~.__~p*.rrt eras ce ili: t:c') t}1 „_~ant e_, }-~. ~ucce. ... ~' a e. r_s >,yc,r~ ar,d assigns, to a=a.c~ t?~e c:n]._r prol.~=r u:;r: arld b_•iloo i:f T_hr tc4"cZflr>n~ }1_u ;3.CCC$9C>Y': '.-c3 L3fS'~3~~1gri<~, loI•ev@r. AvD the t;l•anf:o:_, `or himse="F; }ti's }xei.:s, 1~eT•snnal r_^ra-c"~,~r.C.ativetr ar.d ays _r_.n;a,-.c.oe r_civenart, F,rcr~i.:_ arrd Tyree, to a7'_l! G1t}•, f}-;r i3Ta3:t~:•° }:~?: :~t.]r. CE'.3EC>YS dnrl &SSit•nS; L•y LI:@3i: pr~.s~nts, t:~lat kle, the ^,ranl_cr, hi.s Yeirs, persoi:al x~E3; I^Y'_`'r:tii C.l :'ES znd a,:=iyns, a11~ nd sir.:_;u~.a:- th~~• Ye: z'r: ciytamen:.s arld prc:m`_sea herr::^y gr3:zted •or mertio:lea ar3 .iaten^ed ~c to be, t•~it:i thra appur`.enanccs, ueu~ l.he.Gra.^.tr.::, t;_w aucressr-. rrs and a:z;igr;;a, against C}!efr, t}:r. Granf:u, hi.s heirs, pi:rson,al pr~_i r. to iv.--s .end a=5_~no any ya;~lct ai: ;; r. c; Av;~ry cl_~rsor. and x .or w 1C'rISC^Vr„ laa~fUL1_f ..lazm~.n? ~r .ta cli?_m tt?.t; can cr flrr: cart ..i:~rec`. ny, from er ur: er tram he:.r, .::here ar ari;~ o:: ~h=rn, - s}:,a_ arrd wi.l'_, subject. ri~ a`oresaid, %dF_F.R:,:~~1 n „. -....vi7.4ay t t:q9{K; 4A4 .; LlrvlOERi.AP7v :;)Urd IY ... _. 'rst u 2G:iZ..2u0 -hays 2 of G Farm produced by United Systems Soltware Company (B00) 969-8727 ww,v unitedsystems.cam B-N Agency Appraisal Services FileNa 0300409 B-H Agency Appraisal Services 163 N. Hanover Street Carlisle, Pa. 17013 (717) 243-1000 Ext. 216 Date :March 13, 2009 Client :Estate of Leon C. Morrison In accordance with your request, I have inspected, as per your instructions, and appraised the subject property located at 251 Clemson Drive, Carlisle, Cumberland County, PA 17013 As per your instructions, the purpose of this appraisal was to determ(ne "Market Value" at the time of passing or date of death for Leon C. Morrison, in unencumbered fee simple tide of ownership, and was done in compliance with and as defined by "USPAP" and the Appraisal Standards Board. This report in it's entirety is Intended and valid only for the Intended use of the Client named in this report, and is invalid if photocopied or electronically transmitted, whether in part or in whole by anyone other than the Client or the State Certified Real Estate Appraiser(s) named in this report. It is intended solely for the Client, and shall not be used by anyone other than the Client without the prior written consent of the Client, and the State Certified Real Estate Appraiser(s) conducting the appraisal process. Note :This is a Summary Appraisal Report, and contains 13 pages (plus attachments or addenda as necessary), and any single page is invalid if detached or used separately from the entire report as originally submitted. This report was conducted and prepared with the utmost care and confidentiality, and was established with no pre-determined opinion of value on the part of the appraiser(s). Thank you for choosing B-H Agency Appraisal Services Art Calaman Form produced Ay United Systems Software Company (800) 969-8727 www.unitedsystems.com B-H Agency A sisal Services FileNa 0300409 Address: 251 Clemson Drive _ Unit No.: N/A City: Carlisle County: Cumberland State: Pa _ Zip Code: 17013 Legal Description: See Attached Deed Copy from Instrument # 200811260 Borrower N/A Lenoer/Client: Estate of Leon C Morrison AddreSS: 82 Ridge Avenue Carlisle, PA 17013 Prepared By: G. Arthur Calaman Pa. Cert.# RL-139418 Company: B-N Agency Appraisal Services AddreSS: 163 N. Hanover Street - Carlisle, Pa. 17013 - Phone: (717) 243-1000 ext. 216 Fax: (717) 243-1718 Email: bhappralsal@comcas[.ne[ Prepared As Of: * December 4, 2009 Estimated Market Value: $ #zs6,ooo.oo Cover Page with Photo and Contentr Cover Letter Uniform Residentiar Appraisal Report Certification and Limiting Conditions Teat Addendum Subject Photos Subject Photos Building Sketch Comparable Photos Location Map Flood Map Deed Intended Use of Thls Repot is to establish Market Value ONLY: NOT to be used for Mortgage Finandng. Form produced by United Systems Software Company (600) 969-8727 wxw unitedsystems com B-H Agency Appraisal Services NOT TO BE USED FOR MORTGAGE FINANCING PURPOSES File No 0300409 Property Descriotfon UNIFORM RESIDENTIA eaaoes AL REPORT ~ Praperty Addresc x t na,r,u,~ n.,„o Flle No. 0300409 r,try ~arusle State Pa Zip Cotle 17013 Le al Descri tion See Attached Deed Co from Instrument # 200811260 County Cumberland Assessor's Parcel No. 21-06-0017-023 Taz Year 08/09 R.E. Taxes $ 2,806.00(m/L 5 ecial Assessments $ None Known Bonower N/A Current Owner Leon C. Morclson Trust Occu ant ^ Owner (5(] Tenant Vacant _ Propert ri hts appraised ®Fee Simple ^ Leasehold Pro ect T e ^ PUD ^ Condominium (HUDNA only) HOA $ N/A /Mo. Nei hborhood or Pro'ect Name Middlesex Townshi Ma Reference (21) 06-0017-023 Census Tract 0118 Sales Price $ N/A Date of Sale N/A Description and $ amount of loan charges/concessions to be paid by seller N/A Lender/Client Estate of Leon C. Manson Address 82 Rkige Avenue Carlisle, PA 17013 A raiser G. Arthur Calaman Pa. Cert.# RL-139416 Address B-H A envy Appraisal Services 163 N. Hanover St. Carlisle Pa. 17013 Location ^ Urban ~ Suburban ^ Rural ociuoanc~t Single family housing Present land use % Land use change Built up ^ Over 75% ®25-75% ^ Under 25% P y $(000) ~yrsj One family 8 ®Not likely ^ Likely Growth rate ^ Rapid ~ Stable ^ Slow ^X Owner 72k Low _ 0 2-4 family ^ In proeess Property values ^ Increasing ~ Stable ^ Declining ^ Tenant 539k Hi h 100+ Multifamily To Demand/supply ®Shortage ^ In balance ^ Over supply ^ VacaN (0-5%) Predominant i Commercial 1 Marketing time Under 3 mos. X 3-6 mos. Over 6 mos. Vacant (Over 5%) 130-150 60+ ( Other ) Note: Race and the racial composition o} the neighborhood are not appraisal factors. _ Neighborhood boundaries and characteristics: Subject is situated NE of the Carlisle Boro limits It is bounded to the north est Middlesex Dc ~ to the east b = the Carlisle Country Club; to the south b I-81• to the west b Wolf's Brid a Road . _ Factors that alfecl the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): "" Sub ect roperty is In the rester Carlisle Pa. Market Area. Ma or roadways, em to ent, rho 'ng, schools (both ublic and private) are within reasonable drivin distance. Utilities as well as fire and police protection are present and adequate for the area It is my opinion that the subject ro condition and would have excellent marketin tential. ] P perty is in aver e Markel conditions in the subject neighborhood (including support for the shove conclusions related to the trend of property values, demand/supply, and marketing time --such as data on competitive properties for sale in the neighborhood, description df the prevalence of sales and financing concessions, etc.): Em Io ment, mortgage rates and housin inventories have remained falrl stable in the area and althou h Interest rates are Fluctuatin the market is stable. Pro a reciation has had little or no Increase over the st ear. Avers a marketin time for similar ro les in this area would fx up to 90 days, but could be u wards to 180 da s. Seller concessions in the form of closln cost assistance to the b er are relative common but usual don't exceed $3000 to $5000. _ Project Information for PUDs (If applicable) - - IS the developer/builder in control of the Home Owners' Association (HOA)? [] Yes ©No Approximate (oral number of units in the subject project _ NIA .Approximate total number of units for sale in the subject project N/A Describe common elements and recreational facilities: N/A Dimensions See attached I aI desai lion in addenda section Site area 2.83 acres (m/L) per Count' Assessment Records* Topography Rollin Corner Lot ^ Yes QX No Size 2.83 ayes m/L ' Specific zoning olassilication and description Residential Shape Irr ular Zoning compliance ~ Legal ^ Legal nonconforming (Grandfathered use) ^ Ills al Highest 8 best use as improved ®Present use ^ Other use (explain) g ^ No zoning Drainage ors to be ad uate Utflitles Public View T iwl Restdentfal Other OH-site Improvements Type Public Private Landscaping Avers e Electricity © Street Macadam ® ^ Drivewa Sudace Macadam Gas ^ Private Pro ne CurD/Gutter None Observed y Water ^ Private on Slte Sidewalk None Observed ~ ^ Apparent Easements None Found a observed Sanita Sewer ^ ^ FEMA Special Flood Hazard Area ^X Yes ^ No ry ^ Private on Site Slreei lights None Observed ^ ^ FEMA Zone A9 Storm Sewer ^ None Observed Ale None Observed FEMA Ma Nr . 420363 OO15pB ate 06/15/1981 Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming Zoning use, etc.): None observed or found Burin the normal course of research of this o *Attached I al Besot tion states acres as 7.72 aUes. A raiser makes no claims or warcanty to actual aQeage of this plot. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT No. of Units Sln le Foundation Blodr INSULATION No. of Stories Two Slab Partial Area Sq- Ft. 870 m/L Roof ^ Exterior Walls VIn I Stone Crawl Space N/A % Finished 70 ^ Type (Def./Att.) Detached Roof Surface Shin le Ceiling Desi n St le 2 Sto Basement Partial Ceiling Rafter Walls ^ g ( y) Gutters 8 Dwnspts. Aluminum Sump Pump None Obsrvd Walls Block Exis(ing/Proposed bcfstin Window Type DbI.Hn . Floor ^ Dampness None Obsrvd Floor Concrete None ^ Age (Yrs.) 33 rs m/L StornVScreens Existin Settlement None Obsrvd Outside Entry Yes Unknown Effective Age (Yrs.) ratz yrs. (ML Manufactured House No Infesfalion Unknown Flnish: earpeUwood Panelin _ ROOMS Fo er Livin Dinin Kitchen 9 See Text Addendum Pg. Den Famil Rm. Rec. Rm. Bedrooms # Baths found Other Area S . FI. Basemen) 1 Level) 1 1 1 1 87D m/L - Level2 1 1 •5 1 1 1682 _ 3 2.00 870 • Finished area above reds contains: 11 Rooms 4 Bedr om s ~ 2.50 Baths : 2552 S uare Feef of Gross Livin Area INTERIOR Materials/Condifion HEATING KITCHEN EOUIP ATTIC _ Floors CpWn/C.Tre:Average/Good AMENITIES CAR STORAGE' Type FHA Refrigerator None ^ Fireplace(s) # 1. © None ^ Walls D aIl:Avera a Fuel Oil Ran a/Oven -- Trim/Finish Wood:Averaee g X Stairs ^ Patio Concrete © Garage # of cars Condition Averse Disposal Drop Stair © Deck Wood Bath Floor Vin I:Avera a/Good COOLING Attached 2+ Dishwasher Scuttle Porch Front Bath Wainscot N/A Central Yes ^ ® Detached 2+ FarVHood Floor ^ Fence yes ~ ® 8ui11-In Doors Wood: Avers a Good Other None Microwave Heated ^ Pool Indoor All Wood Trim stained throughout Condition Average Washer/Dryer Finished ^ ~ Carport ^ Driveway Additional lectures (special energy efficient items, etc.): 16' x 31' Indoor Propane Heated Swimming Pool wtth cover and slide in attached rec room finished with pine lank walls and ceilin 4 liter, 3 ceilin fans car led decktn electric B8 heat and hot tub. Condition of the Improvemen(s, depreciation (physical, functional, and external), repairs needed, quality of construction, remodelinyadditions, etc.: Nome is in average mndltlon - with no physical functional or external obsolescence No needed repair was noted at the time of Ins - constriction is avers a to the area and rind, pectron no repairs were in progress. Quality of Adverse environmental conditions (such as, but not limited to, hazardous wastes, Ioxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of the subject property. None observed.,.Not ualified or certified to see or test...See Text Addendum Pa e. ieddie Mac Fnrm 7n a.av min mpwuuceo oy unuetl Systems Software Comparry (B00) 969-8/27 wwwunitetlsystems.com -Page 1 Fannie Mae Form 1004 6931 B-H Agency Appraisal Services File No 0300409 ation section UNIFORM RESIDENTIAL APPRAISAL REPORT tSTIMATED SITE VAWE _ $ N/ ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: Comments on Cost Approach (such as, source ol,cost estimate, site value,~square Dwelling Sq. Ft. @ $ _ $ N/A toot calculation and, for HUD, VA and FmHA, the estimated remaining economic Sq. FL @ $ -_ life of the property): Due to the a of the subject improvements, the - _ Cost Approach to value was not used. The Cost A roach is on Garage/Carport 1023 Sq. FI. @ $ -_ considered for dwellin s of "New Construction" or for an actual Total Estimated Cost-New ..................... _ $ N/A Ph sisal a e of less than flue ars. It is the opinion of this a aiser - Less Physical Functional External that the "Cost roach" to value is inadequate and not a ro riate in Depreciation = $ an anal is of a dwellin & improvements of the actual h sisal a e of this sub ect a d ld n wou not field an accurate representation of Market Depreciated Value of Improvements ...................... _ $ " Value. I[ was therefore not considered. BAs-is Value of Site Improvements .......... . NDICATED VALUE BT COST APPROACH ................ _ $ N/q ITEM SUBJECT COMPARABLE N0.1 COMP RABLE N COMPARABLE N0 3 251 Clemson Drive 325 Wolfs Bridge Road 163 Valley Drive . 245 West Middlesex Drive Address Carlisle, Pa 17 013 Carlisle, Pa. 17013 Carlisle Pa. 17013 Carlisle Pa. 17013 Proximi to Sub ect 1.1 MI WNW 1.3 MI SW , 0.8 MI N Sales Price $ N/A $ 191,900 - $ 197000 $ 215 000 Price/Gross Liv. Area $ $ 82.57 $ 105.91 , $ 95 68 Data and/or Int./ExC Inspection CPML &CCCH/Previous Inspection CPML &CCCH . CPML &CCCH Verification Sources CCCH Drive- Ext. Ins 'on DrNe-b Ext. Ins 'on Drive-by Ext Ins ion VAWE ADJUSTMENTS DESCRIPTION DESCRIPTION + - Ad usi t DE . Sales or Financing men SCRIPTION + - Ad usiment DESCRIPTION + - Ad usiment C Cornentional Conventional Conventional oncessions N/A N A D / N/A ate of Sale/Time 12/12 2008 07/16/2008 05/06/2008 Location Averse Avers Average Avers e Leasehold/Fee Sim le Fee Sim le Fee Sim le fee Sim le Fee Si l Site 2 83 aces m/L 0 49 m e . . acres m L 4680 0.25 awes m/L 5160 1.09 ayes m/L 3480 View T Tsai Residential Residential Residential Residential Desi n and A eat 2 Story 2 St 2 Sto Ranch Oualil of Construction Average to Period Buil Average to Period Built verage to Pedod Built Avera t P i N/A A e 33 rs m L 42 ge o er od Built Condition Averse s. m l A 20 rs. L 42 rs. m L vers e Avers e Avers e Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths - Roam Count 11 4 2.5 8 4 2.5 8 4 2 5 Total Bdrms Baths - Gross Livin Area 2552 S . Ft 2324 S Ft . 8 4 3.0 -2500 _ Basement 8 Finished . Partial Concrete . . Full Concrete 5700 -1500 1860 S . Ft. Full Concrete 17300 2247 $ . Ft. 7625 Rooms Below Grade One None 1800 None -1500 Full Concrete -1500 = Functional Utili Typical T Ical 1800 TWo _1000 - Heatin Coolin FHA/Central Alr HWBB/NO Central Air 3500 T kal FHA/Centrai Alr T Ical FHA/Central Alr Ener Efficient Items None observed 2 Wood Stoves -1000 None Known None Known Cara a/Car ort 2 Car Att./2 Car Det. 2 Car Att. 5000 2 Car Att 5000 2 C A Porch, Patio, Deck Porch/Patio/Deck Porch/P tl . ar tt. 5000 , Fi l a o 1500 Porch/Deck 1000 Porch/PatfoJDeck re aces ,etc. Fence, Pool, etc. 1 Fir lace Rec Rm w/Indoor Pod 1 Fir lace None observed 1 Fireplace None Known 2800 6r[erior Finish Vinyl/Stone Brick/Aluminum 35835 None observed 35835 In- rd Pool 30835 Net Ad total Vin I StoneNin I . . + - $ 55515 + - $ 64595 + ~l _ Adjusted Sales Price G 3Y:539ro $ 44740 34 G t .31% G 25.45% of Com arable N: 28.93% $ $247,415 N: 32.7990 $ $261 595 N: 20 81°k $ 2 , . 59,740 Comments on Sales Comparison (including the subject property's compatibility to the nei hborhood, etc.: The com arable r $ 9 ) ~ p operties used in this ana i t i i s s are o n o my on the very best available at the resent, and having been sold within the most recent months. All are relative in proximity and similar in nature style, size and condition. Adjustments have been made [o com nsate For differences in the com rable opertles where rrecessa . A modest h ure of $25 / R. was used to calculate above ground finished livin i area n excess of 100 ,R, Because the subject tract is in the FEMA A9 Flood zone an ad usiment of 2 000 p/acre or (rad(on thereof was used to calculate diff erences in land. Adjustment for the finished reC room/ I described in "Additional Features" on the revious a WAS AS FOLLOWS: 1989 ft @ $15 • i i . . m n mal 5 000 pool; $1 000 hot tub. Ad usiment rcenta s are hi h on each due to this. ITEM S ECT COMPARABLE N 1 A BLE N0.2 Date, Price and Dala 04/10/2008 07/29/2004 06/10/2004 0 BLE N0. Source for prior sales CCCH CCCH 07/02/2008 11/30/2005 CCCH CCCH within year of appraisal 81.00 1 00 . $1 ~ ~ 00 Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and S $ n p comparables with p one year of the date ot ubject is not was not has not been listed for sale In the last 12 months P i . ro es transferred on dates shown and have not treen sold since transferred from individual ow Sub'eR was hi ' . ners to individual s trust on date shown. INDICATED VALUE BY SALES COMPARISON APPROACH , , - - INDICATED VALUE BT INCOME APPROACH It A Ilcahl ~ ~ """"' ° """""""' $- 256000 E i e st mated Markel Rent $ N A ~ /Mo. z Gross Rent Multiplier N/A = g N/A The appraisal is made ©"as is" ^ subj t t h ec o t e repairs, alterations, inspections, or conditions listed below ^ subject to completion per plans and specifications Conditions of Ap raisal * Date of in tl p : . spec on of the ro was 03 11 2009; Effective date of the A sisal for purposes of this report is the date of the decedent's assin which was December 4 2008 Al . so see Text Addendum for additional comments on conditions of the a ralsal. Final Reconciliation: See "Final Reconaliation" on TeM Addendum e... The purpose of this appraisal is to estimate the market value of the real property that is the subject of thi s report, based on the above conditions and the certification, contingent and limiting conditions, and market value definition that are stated in the attached Freddie M F 4 9 ac orm 3 /Fannie Mae Form 10048 (Revised N/A _ 1(WE) ESTIMATE THE MARI(ET VAWE, AS DEFINED OF THE REAL PRO ) , PERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF * December 4 2009 (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DA TE OF THIS REPORT) TO BE S $256,000.00 signa e as been electr nipll ff ~ ~ g y a ixed to this report w/digitalty protected s(gnature(s) for the purpose of electronic transmission. APPRAISER) ~ : SUPERYISOR ~ ./ T APPRAISER (ONLY IF REpUIRED): Si nature lr- --- `-r . Signature Name G. Arthur aman, Pa. rt.# RL-139418 ^ Ditl ^ Did Not Name e R rt Sin 03/13/2009 Inspect Property C rtifirati n # RL-139418 Date Reoon . ianed Or Slate License # t t Pa State Certification # St t ~reddie Mar Fnrm 7n F_°v Slate Or Stain I icence ~ "~~~~ ~crnuuuceu °y umred systems S°Itware Comparry (8001969-8727 www.uniteds stems.com - Pa e 2 arare I y 9 Fannie Mae Form 1004 6-93 A-H Agency Appraisal Services FileNa 0300409 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market sooao9 under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably anti assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation o1 a sale as of a specified date and the passing of title from set ter 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 far 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 far dollar cost of the financing or concession, but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification chat appears in -he appraisal report is subject to the following conditions: t . The appraiser will not be responsible for matters o(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 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 ho 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 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. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report Irom 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 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 organizations 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 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. Mac Company (BOOj 969-8727 wow B-H Agency Appraisal Services File No 0300409 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: t . 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 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 comparable property is inferior to, or less favorable than 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 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, chat 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 subject 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 of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants 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 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 chose 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 interior and exterior areas of 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 far 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 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. Appraiser(s) signature has been electronically affixed to this report w/digitally protected signature(s) for the purpose of electronic Vansmisslon 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 caking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 251 Clemson Drives Carlisle, Pa 17013 APPRAISER: /`_/ ~', i~ Signature: l ~, ~- r ~~.G.--.-`_,.._--. Name: ~. Armu~r't~'alaman, pa.,Cert.n RL-139418 Date Signed: 03/13/zoo9 State Certification #: Rt-139a1s or State License #: State: pa SUPERVISORY APPRAISER (only ii required): Signature: Name: Uate Signed: State Certification #: or State License #: State: Expiration Date of Certification or License: oe/3o/zoos Expiration Date of Certification or License ^ Did ^ Did Not Inspect Property 8-H Agency Appraisal Services File No. 0300409 TEXT ADDENDUM Borrower/Client N/A Address 251 Clemson Drive Ciry Carlisle _ Unit No. N/A County Cumberland State Pa _ Zip Code I~o13 Lender/Client Estate of Leon C. Morrison vcrina ~ avna wnu uA 1 A ~UUKCES: EXPOSURE TIME: For the appraised property, the exposure time, based on the experiences of other similar properties in the same or similar neighborhoods is estimated to be at three to six months. Exposure time is backward looking, where there is historical data available that provides a reasonable indication of the amount of time that would have been involved to market the subject property being analyzed, and obtain a sale as of the effective date of the appraisal. This data has tteen considered and used in this estimate. MARKET TIME: Marketing time on the other hand is forward looking, and is expressed as an estimate (projection) of the time that would be required to market the subject property and obtain a sale. In this context, it should be noted that I have adhered to the definition of "Marketing Time" as put forth by the "Appraisal Standards Board" and Included in this report. This definition advises that marketing time does not begin until two things take place: (1) an offering of the property at a price that marketing participants find acceptable, and (2) an effective marketing plan is implemented. SCOPE (EXTENT) OF APPRAISAL: In the preparation of this appraisal, I have made a physical inspection of the site and the improvements (if any). I have traveled the neighborhood and if necessary, made appropriate observations or notes. Data sources employed in addition were the zoning map or officer and ordinance for the municipality, the recorded deed or legal description, the tax assessment parcel records, local multi-list records, and the FEMA maps for the location, if required. Consideration has been given to the highest and best use of the property, and all three approaches to value, with application to those most relevant and applicable to the valuation of the subject. Data referring to Predominant Occupancy, Single Family Age and Pricing, Present Land Use and Changes are reflecting statistics for township/borough/general area, not for precise subject neighborhood. Other aspects of research and analyses relating to the Scope of Work performed as to the development of the assignment, and results and conclusions of this report, are found and disclosed in other sections throughout. CCCH & CPML are acronyms for the Cumberland County Court House and Central Penn Multi-List respectively. These were the primary sources used to secure property data. In addition, already verified information and data from my own files was used if needed, and where appropriate. All information developed was independently verified where public sources did not provide needed verification. I may have contacted listing or sale agents or other parties to the transactions, if I felt it necessary to verify data listed in CPML, as well as any suspected unordinary seller concessions. In the valuation process, all appropriate value approaches, or their exclusions are mentioned In appropriate sections of the report. CONDITIONS OF APPRAISAL (DISCLOSURE): The appraiser(s) is unable to know or verify, and in most instances unqualified to determine or verify any insulation or "R" factor; also the presence of urea formaldehyde foam Insulation (UFFI), any wood infestation or causes thereof, any lead based paint, any type of mold or mildew, any asbestos, the presence or amount of any radon, polyclorinated biphenyls (PCB's), chlorofluorcarbons (GEC's), leaking storage tanks (above or below ground), and soil contaminates or any type of contamination. The quality of any drinking water cannot be tested or verified by the appraiser(s). The appraiser(s) has no expertise and is unqualifed to make any assumptions, statements, or warranties as to the condition of any on or off site septic/sewage system if present. The appraiser(s) is not qualified to test for any contaminates in, on, or around the property, and can make no assumption as to whether or not they are present. It Is to be noted however, that if any of the afore mentioned items are present, the market value could be adversely affected or violated. The appraiser(s) has made every effort to look, notice and document if observed, any apparent or unusual appearing circumstance in, on or around the property at the time of the inspection process. The appraiser(s) has only considered the dwelling and items permanently attached as realty. Personal or other items not permanently attached such as refrigerators, washers/dryers, window air conditioners, free standing stoves, portable dishwashers, etc. were not given value consideration in the appraisal process. Also NO VALUE is given as to storage sheds, pools (above or in-ground), swing sets, normal fencing, or other items or exterior structures of perceived value, unless specifically noted in the report. Utilities were on @ time of inspection and all plumbing, heating, air conditioning (If present), mechanical and electrical systems are assumed to be functional to the best of the appraiser's knowledge, however no warranty or expertise is stated in this report. Line adjustments are not market extracted values due to lack and inconsistency of adequate market data, and therefore are subjective in nature. FINAL RECONCILIATION: This report is a Summary Appraisal Report. In the opinion of the appraiser(s), the "Sales Comparison Analysts" represents the best indication of market value for the subject, as defined in the "Statement of Limiting Conditions" contained in this report. This approach to value was given the strongest consideration in estimating the subject's market value as of the date of the appraisal. The "Income Approach to Value" was not considered, as the area is predominately owner occupied, therefore limiting the amount of available rental data that would be necessary to accurately complete that approach to value. PRIVACY NOTICE: Pursuant to the Gramm-Leach-Bliley Act of 1999, effective duly 1, 2001, appraisers and all providers of personal financial services are now required by federal law to inform their clients of policies with regard to the privacy of client nonpublic personal information. In the course of research for this appraisal, we may collect what is known as "nonpublic personal Information." This information Is used to facilitate the service that we provide, and may Include information provided to us by you, or indirectly provided to us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement to nonaffiliated third parties, except as necessary or as required by law. A necessary disclosure would be to an independent contractor, or in certain situations to third party consultants who would need to know certain information to assist us in providing these appraisal services to you. Should a disclosure of this nature to any person or firm assisting In the appraisal process be necessary, such persons shall be advised that all information is to be maintained in strict confidence within the firm. A disclosure required by law would be one that is ordered by a court of competent and legal jurisdiction, with regard to a legal action to which you are a party. We will retain records relating to the professional services that we have provided for a reasonable time. In order to protect your nonpublic personal information from unauthorized access by others, we maintain physical, electronic and procedural safeguards that comply with our professional standards, to insure security and the integrity of your information. Form produced by United Systems Sottxare Company (800) 969-8727 www.unitedsystems.com B-H Agency Appraisal Services File No. 0300409 SUBJECT PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 251 Clemson Drive Unit No. N/n City Carlisle COUnty Cumberland State Pa _ Zip Code 17013 Lender/Client Estate of Leon C. Morrison Front View Rear Ylew Street Vlew Form protluced by United Systems Software Comparry (800) 969-8727 www.unitedsysrems.com B-H_Agency Appraisal Services File No. 0300409 SUBJECT PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 251 Cremson Drive City Carlisle Count Cumberland _ Unit No. N!A Y State Fa _ Zip Code 17013 Lender/Client Estate of Leon C. Morrison Detached 2+ Car Garage Outbullding(s~ Form produced by Unitetl Systems Software Comparry (800) 969-8127 www.unitedsystems.ctlm 8-H Agency Appraisal Services File No. 0300409 SKETCH Borrower/Client NJA Address 251 Clemson Drive City Carlisle _ UOit No. N/A County Cumberland State ~ _ Zip Code 17013 Lender/Client Estate of l eon C. Morr(son ~~~ Wood Dedc ~ 30.0' o Second Floor a m Finished m ~.N Living Area ~' 30.0' cwvr ~y ;y.. t.,. Comments: AREA CALCULATIONS SUMMARY Code Dascrlption Net Size Net Totals GLAl First Floor 1682.0 1682 0 GLA2 Second Floor 870.0 . 870 0 P/P Covered Porch 366.0 . Patio 561.0 Deck 176.0 1103 0 GAR Attached Garage 1023.0 . 1023.0 Net LIVABLE Area (Rounded) I 255J Form uroduced by I INmA c,~mm~ c,.«,..,.., ~_____,, ,,,,,,,, ,,,,, LIVING AREA BREAKDOWN Breakdown Subtotals First Floor 29.0 x 58.0 1682.0 Second Floor 29.0 x 30.0 870.0 2ltems (Rounded) 2552 ~., ~~ ~~ ....~.v~~~~runprenucom a1.0' B-H Agency Appraisal Services File No. 0300409 COMPARABLE PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 251 Clemson Drive _ UOIt No. N/A City Carlisle County Cumberland State Pa Zip Code 17013 Lender/Client Estate of Leon C. Morrison Sales Comparable 1 Front View Address: 325 Wolfs Bridge Road Prox. to Subject: 1.1 MI WNw Sales Price: $ 191,900 Gross Living Area: z324 Total Rooms: a Total Bedrooms: a Total Bathrooms: z.so LOCat10n: Average Sales Comparable 2 Front Ylew Address: 163 Valley Drbe Prex. to Subject: 1.3 MI SW Sales Price: $ 197,000 Gross Living Area: 1s6o Total Rooms: a Total Bedrooms: a Total Bathrooms: 2.so Location: Average Sales Comparable 3 Front View Address: 245 West Middlesex Drive PreX. t0 Subject: 0.8 MI N Sales Price: $ zI5,00o Gross Living Area: zza~ Total Rooms: a Total Bedrooms: a Total Bathrooms. 3.00 LOCallen: Average Form producetl by Unites Sysrems Software Comparry (see) 969-8127 www.unitedsystems.com B-H Agency Appraisal Services File No. 0300409 LOCATION MAP Borrower/Client N/A Address Z51 Clemson Drlve City Carlisle _ Unit No- N/A County Cumberland State Pa _ Zip Code voi3 Lender/Client Estate of Leon C. Morrison • ------ -~ -•••••~ ~,~~~~~~~ ~~~~ e~c tympany rnuu~ atie-arv www.unitedsystems com 8-H Agency Appraisal Services file No. 0300409 FLOOD MAP Borrower/Client N!A AddfeSS 251 Clemson Drive Unll N0. N/A City Carlisle COUnty Cumberland State P Zip Code 17013 Lender/Client Estate of Leon C. Morrison --- ~~----_- -, ~~"~~~ ..»~=~~~„unwme tympany IaUU) 9ti9-e/I/ www.unit¢dsystems.¢om B-H Agency Appraisal Services File No. 0400309 l'? , =f~1J+; I'AXCE.~: ?1-Dti-(10.17-1135 ~eec~ . .. liis;~nclentl~~~, "mane tY.e:Bth day of Deccr,;bex, in Y.1:r. year o?...our .L~rc:'t4JC;' t%t.;u~:3Yid nr.'d six is=UUti) , between LEODI C. I~7CRn~SO,v, a marn 1:~~d ra-1.`tof P_0. Hor_ 795, Car'•is1F, ~~um~?rland Cou:~ty, Yennay'•-~ran.ia,'?:Grantor r~~~c~:' LF7hT C, r10RRTS:;Y, Truete~ at t'nc: LSCiC C. M~RkIS~?S L. ~ _t4U 'IRUS?' dated Decem~er0;,:20Ci6.,:.';atx1 ariy a:nerdnlents thereto. C,rant ~ e ~'~~tl'd4~S,543t~1, '!'ha* ha (.rzrto for acid r: ccnsceraticra o; tre gar! of :.tte and No/l0(' ..($1 ^U) icllars, lav:f~l matey c_` ch:. ?.)r.i.t~~] states of 1tnerica, un±c.hi:~ svi-:1'.i. -rYa L•ruly p;~.ic9 1,; the +7r~t;r_ea t,;t ~~.::etar,~ t tre• ~r~] ;nq anci:;:rle].>.verV here:o~, ti:e =zc:e~i.pt vi _e•iec)'_ i:a rereby ackruwlelc..i3 .,pas„ri^anted, rarg;zi::sd an8 snld, released urd conti:•r;;ec<, and;l;y.he:;e. pret?ents dons gra_^.;:, ,;,ar.gair. at:cl :_el_ r.Flaase and canEirir,:~:.rto "ttie.Gran.tee, hi saccessara and -assigns, .,LL TFF."` Clg•T~7N tract Qi" laYid, $"u~LCC lIl h:icici].~~sex 'I.Own82: ir,, :Cur::berlard COU:ItV; Ye.:n~=ylvaniu,,~bour±deci and described is i•ol'1o,as aLGl?JI+I?::~ a. a ) ai ,t tz1c3 c. :iic-rliite _ o= ~'-501 cr_ the ~:rntP_ v° the i;ridyc at .co ),ei.: of Yop rt ~ iiow o_ torr.':F)y " ' p.. } Y' J. ~a_ph ~hEaffzr; thr.a Glong she ~ C.IlCr r ut. ±'3a~.d road :oy a r_urve Co :..lrr r.•_y};t, ha~ring a ..zdiu.,::oi 2G9.$U:'fEet,:':an are 1crgth r.)i 84. BF. feed to a point; tl:enca .'sE];:~ .,al.oi~~: saris "road, IJnrth ~ U rryx-eFs :iI :niautes lU secords..tve~ 4&.75 eet Lo .a nail; thence along cth~_r la:zds o= Leon ltt.•rri.,o;t, -1•:c,lt.ki lu: 3egree3 _U minu_es 5° ~~eccnd ~ :;t 3s?9.J9-feet t-o a'r,oiriE; A ttieince still glory 7.a;td=, cf ,orison, Dtcr h 15 deJrees 3.? minutes 9'1 i );}, f~=F_= :,-U i~ JV21t: t~ ~' '~~~. r y~. ~9 C'.C i.:3 TiQI?S_^ i~1.5r I `~ r:.~ Pic. ta- 79 ueg?~e~•7 S2' minutes c, seconds :Ve=`, 208.53 -?Wt r,~ ari eYr>;r.inc~ .con p~ii;;"tler_Ce d1011:j ]c.ri:]3 '1.04! cr fcrmeriy o_` Charier 'r;eater i •_bi~th 1G.-d%_>grer ,;, 2S -ninntes .55 se;;:. rres East , 693.61 fe~L .'s ::cs~ • t>:ence South 83 degre~a 31 r.'rut=.s Gg sercnd vast, I1~:~70 feet~to' the aoaroxitndL'e felltierilnN CUtSB£RLAy.i COU\ I Y h,aLr 2nn31tF t:i-rake ; of i 1 Form produce0 by United Systems Software Comparry (800) 969-A727 wwn unitedsystems tom B-H Agency Appraisal Services File No. 0400309 C: ~. ~:Y;ln; .tl-!e,^.C. E~ it :u[h~ tk1C' F:A!3T~,]Cilll'at~ C°I`.=. P_7 }..7. i'i(: ql t}1@ KUn tF'_= i~ll~~wiiu'r co;rrsFr, ,end cii.,L-~ress: South '_:k deb-^=es 1, rttirul:rt; 4G <:'-aonr?. ._~ Wit., .212:"5 fc-et; there. South ','~ degr.~FS OU mir_ut2ss, .. ~ SC CGI~dS~ ~r4vt%, $G i:£Ql: :%};ellCE 5out.h ~..33 .de«r~z~s ~ CiU mirtl: `. ,`a'.';?~ . SEe'~::OC:.I~S~ i'Je'St, 197:.5G F2E.%i %h~'_'7_C2-:i0ui'1 43 CaY:3T'vC':i Oil ISIitYJtt'.i 2:', se.c^r?d:=.-V7Cfit, !::~, -P.ca; .~t }:e 1tCe 50i1t!1 .i l.. .L''P.Jr2~S 4U Tn1Tl,.l l".~~F7 :'. iJ sec•:~:ads i^7est, i13 feet; thet?ce South l.,daa~'ees 5U minutes U .. 3E.~:.:7:.C}U S9r.,.. .213 .'feet; -ah '1C ~Su.ltkl' LE '?pgre~_ ;Ci t;,itwirs .•iU _,. _..~r.r3s _ast, 3]S.vU•.feCt; t)-f.Tl~ 5atA~h 13 d~yrre_> 92 min~_Fs i9 `:;+?COAt:S =~7St, 20Cs; 7.~6 f~Wt~; the~ce~•Scu~[,~3 de'~rees 2? mi.lra_e~ 4'- . al-'C'J':'id.^ rtie$t, '1~/t5.~ fC3F,>`t.-~"•(hesi..~e ~`~.:~uth29: ci,:+.3.:'Y_P~ :i `.3 Cfllrl"1tC`.b :i) seconds tde:>t, 104. F.>3 f:eet t_o ti'le :aentn_r ::i:.the lnxidg•~ ort T-"501., the F:.aoc-: o`' L_G_'t•:?}1NG. C ; ! Felv'ING 8.469 3^Xe.+. i3~_rY ~ pGTtlOn Cf ~th, ~~r.,~ '~.:EM~S@8 w--ch i,°Ol•:.%. i''.~r"Ci.SGC., by iu, c}red at~;9 1~'.ay 4,_24U5; r z:r:::ug cf record .i:~ ::hr c'*fi.ee o± thF Recorder of T)eeds '., :n c,•Zd fo~.:C:am}:e.r).enG. County in i;.xri ~,ro}; 274,- Page .c.937., yrarted ar.d ~_,rweyed ll:nt~o Leon c": biorriscn, ._-e ,ran4o,- herein. Ti7',=_^_31;1? wish all.and Ea.rir`;~.l.ar t.`re nui.lding impravsmarr_, ';7.r :s.r.•eet a:F'lzya, patEag~s, "w~t+=r :;, water•.ct_lis~t:r, :ighta; l~ner~:c-s, pr,vileycs, nrled.~'tameuc' and all:;;.rt.arar_ces wl:a:sc:,;t•.rar :~hc:ra,,n.o belc'r_girlj, .ar is ariy...w :.;e a~nert.air.ing, s-;ci t},e r~•.'~x:~_.o*;s tsnd remainders, rFn:rs, .is,sueS and profits tt:ct°~Tnf Ord a Ch>_ ests.t=_, right, titles, .altEresC:, Proper.*-y, c:lail~l a:i~ d r;,.;c} w.?=,tF;oever .,.. tli~ s~id;Gra .or in .law, equi y, ~,_ oth.^rwive howsoever, of, r -nd'td.zhe sa,r,e and Avery part t }7C' i r`G t . '~t~ :iA''JE F~Sia r'O IzC;Lv the 8a'd dot or piece of ~rouTld a}~~.^va •desc-r:k:ed, w? tb the '^esst!age c~i-..tene'ment ~.he~reon erec•°;.rd, h_-ccd_ _~t:rr~nt.:, .'and pre¢niEes hzieij;,r greait.rd, o~- mentioned and i.ntrn3r=d _,. to r/~, w r_? tho .ap iar'er;a:i~_es, ~:nto tt:e G.r.;lr.T.4e, r_s s;~oce:aracr..; an,: assigns, try ard:'for the. anly proer use ~.tld bak:on ^f tha grantee, .-_s sircl,,asors ,hd ass~yrs, Lorevz.... ~:•J!} ckrr i3iar:tox•, ;;~,r hicns'sIf hies' nei:t::,. };=.rsct.al t Nir<: ;N:1 `::?I•. 7.'.leS 3.7.Ck doo1~2'3 ~; '. ci.Oc3 _^.OVenallt ~~::pr.: m.sc an:} ,3.a.Yrt?, C.o and ;eir.h +_he ;;ranee„'his~:a>_icC~ssors.ard~ir;:ri,~7s, by t:ir--••:,t 1,:eere:;t.,,, that he, ale .vrzntar; n s .li?irs 'pt_~rsel~a:. r-~l:eeentativcs.and rlssign~.; :':a11 ~i;d s:i.n'•~l~Iar t.k:e:rerec}itair.er`..a -anci pYernise.; ttvrehy ~rante o+-, merit ior.rd ar.J9 .inteZdcci so :,c be, •otll,h ;:'r_e app-;'rtenznces ~~~.iirto•~:the~-Gr.x1•iree,-rhi~ ~aucces ,ors and .,ssina, anain:;= them, :t,h~ :Grantor., _kiis .heirs, pFrscnal ~cpres~nea%ives anc5. assigns, :acd' ~3a:fnnt:'al1 znd ever; per-son and 1' LSCii'S3 .vk1~I715^E'v~x' ]ahful y c la=^, rig ~ n :.l a~_;ir i:tF aTM~e cr r.ny 7r t..h~ r. _.o_ , by, f cm r 1_.iu _Y" hi rn .ie them or ..; ~ of. them, :k•al_" end. o-til~, Sub,e_~ . a afore5axd; PJATcF.7±~;'~ ..and fCre~rer ~iFI:t;C. 112003 4 1:73 PM Ct16,1BERlhkD CVUN'I'Y - .. ~ ist.#l6DL'C t3t~•?ape?o.'f Fam produced by United Systems Software Company (8001969-8727 www.unitedsystems cnm 8-H Agency Appraisal Services File No. 0400309 B-H Agency Appraisal Services 163 N. Hanover Street Carlisle, Pa. 17013 (717) 243-1000 Ext. 216 Date :April 21, 2009 Client :Estate of Leon C. Morrison In accordance with your request, I have Inspected, as per your Instructions, and appraised the subject property which is a vacant lot, located on Clemson Drive, in Middlesex Twp., Cumberland County, Pa. 17013 (Parcel # 200811615). As per your instructions, the purpose of this appraisal was to determine "Market Value" at the time of passing or date of death for Leon C. Morrison, in unencumbered fee simple tide of ownership, and was done in compliance with and as defined by "USPAP" and the Appraisal Standards Board. This report in it's entirety is intended and valid only for the intended use of the Client named In this report, and is invalid if photocopied or electronically transmitted, whether In part or in whole by anyone other than the Client or the State Certified Real Estate Appraiser(s) named in this report. It is intended solely for the Client, and shall not be used by anyone other than the Client without the prior written consent of the Client, and the State Certified Real Estate Appraiser(s) conducting the appraisal process. Note :This is a Summary Appraisal Report, and contains li pages (plus attachments or addenda as necessary), and any single page is invalid if detached or used separately from the entire report as originally submitted. This report was conducted and prepared with the utmost care and confidentiality, and was established with no pre-determined opinion of value on the part of the appraiser(s). Thank you for choosing B-H Agency Appraisal Services Art Calaman Fam produced by United Systems Software Comparry 1800) 969-8727 www unitedsystems.com B-H Agency Appraisal Services File No. 0400309 -~ r.-. , ` "^l.E lam` f fit. ` ^ .- '..,. .:.., - ___- ~ ~* ~, ~.~~ `yq~~-mow ? '' s T _ #~1 4..\ ` r J~ ` ~ ,~ ~-.~ ~ X37. .r'-.. 1• ~r ,i6~ ~J~.t~.~~ , «c ' ~p! ~~ ti ~ F ~ m x._., j- ~ ~ i v i ~< Property Address: Lo[: Clemson Drive Carlisle, Pa 17013 Prepared For: Estate of Leon C. Morrison 82 Ridge Avenue Carlisle, Pa. 17013 Prepared As Of: *December 4, 2008 (Effective Date) ` Prepared By: G. Arthur Calaman# RL-139418 B-H Agency Appraisal Services 163 N. Hanover Street Carlisle, Pa. 17013 The Purpose of Thls Appraisal is to Establish "Market Value" ONLY: NO7 to be used for Mortgage Finandng Appraised Value for the Subject Property: ;44,000.00 Fam produced by United Systems SoOware Company (800) 969-8727 www.unitedsystems.com B-H Agency Appraisal Services File No. 0400309 NOT TO BE USED FOR MORTGAGE FINANCING PURPOSES LAND APPRAISAL REPORT File xo. 0400309 ourruwer iviN Census Tract 0118 Map Reference (21) 06-0017-035 (Tax Map) Property Address Lot: Clemson Drive - City Cartlsle County Cumberland Slate Pa Zip Code 17013 legal Description See Attached Deed Copy from Instrument #200811615 Sale Price $ N/A Date of Sale N/A Loan term N/A yrs. Property Rights Appraised ^X Fee ^ Leasehold ^ De Minimus PUD Actual Real Estate Taxes $ 44.26(m/L) (yr.) Loan charges to be paid by seller $ N/A Other sales concessions N/A Lender/Client Estate of Leon C. Morrison Address 82 Ridge Avenue, Carlisle, Pa. 17013 Occupant Vacant Land Appraiser G. Arthur Calaman# RL-139418 Instructions to Appraiser Determine Market Value Location . . ... . . . . . ..... . .. . . . . . ^ Urban ®Suburban ^ Rural Good Avg. Fair Poor Built Up .... ................... ^ Over 75% ®25% Io 75% ^ Under 25% Employment Stability , , , , , , .. , , . ^ ~ ^ ^ Growth Rate , , , , , , , , , , , , , , , ^ Rapid ®Sleady ^ Slow Convenience to Employment , , . _ , , , , ^ ~ ^ ^ Property Values ^ Increasing ®Slable ^ Declining Convenience to Shopping .... , .. _ . _ _ ^ © ^ ^ Demand/Supply , . , , .. , . , . Q Shortage ^ In Balance ^ Over Supply Convenience to Schools , .... _ ..... ^ ® ^ ^ Marketing Time , , , , , , , , , , , , , , , , , , , ®Untler 3 Mos. ^ 3-6 Mos. ^ Over 6 Mos. Adequacy of Public °ransportation ^ ^ © ^ Present land Use 80 % 1 Family 5 % 2-4 Family 3 % Ap[s. 0 % Condo 30 % Commercial , , Recreational Facilities ^ ^ ~ ^ % Industrial _ % Vacant 2 % Other Adequacy of Utilities , , .. , . , , , , , , ^ 0 ^ ^ Change in Present Land Use ®Not Likely ^ Likely(') ^ Taking Place (') Property Compatibility , .. , , , . _ . _ _ ^ © ^ ^ (')From To Protection from Detrimental Conditions , . ^ ^ © ^ Predominant Occupancy , , , , , , . ^X Owner ^ Tenant - %Vacant Police and Fire Protection , , , , , . , ^ Q ^ ^ Single Family Price Range .. , . , , . $ 71k to $ 660k Predominant Value $ 170-200 General Appearance of Properties , . , .. ^ © ^ ^ Single Family Age 0 yrs. to 100+ yrs. Predominant Age 40+ yrs. Appeal la Market . , , , . , .. , .. ^ ~ ^ ^ Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, vie w, noise) See Text Addendum Page.... Dimensions See attached legal description In addenda section = 8.469 acres (m/L) _ Sq. Ft. or Acres ^ Cotner lot Zoning Classification Residential Present Improvements ^ Do ^ Do not conform to Zoning regulations Highest and Best Use ~ Present Use ^ Other (specity) Public Other (Describe) OFF SITE IMPROVEMENTS Topo Level/Rolling Electricity © Street Access ®Public ^ Private Size 8.47 aces (mJL) Gas ^ Propane possible _ Surtace Macadam Shape Irregular Water ^ None known Maintenance ©Public ^ Private Vlew Residential San. Sewer ^ None Known ^ Curb/Guder 9 ^ Storm Sewer Draina a Undeterminable b the a raiser ^ Underground Elec. 8 Tel. ^ Sidewalk ^ Street Lights Is the property located in a HUD Identified Special Flood Hazard Area? ®ves ^ No Comments (favorable or unfavorable including any apparent adverse easements, encroachments or other adverse conditions) None. Nothing unusual or unfavorable other than Flood area, observed or found Burin the normal course of research of this r The undersigned has recited three recent sales of properties most similar and proximate to subject and has Considered these in the market analysis. The description includes a dollar adjustment, rellecling market reaction to those items of slgniliranl variation between the subject and co bl i mpara e propert es. It a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of subject; if a srgniticanl item in the comparable is inferior lo less favorable than or the subject property a lus (+) ad t t i , , , p jus men s made, thus increasing the Indicated value of subject. FEATURE SUBJECT Address Lot: Clemson Dri COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3 ve Lot 0004 Rr Plne Road Lot 0003 Pine Road Lot 0006 Watts Lane Carlisle Pa 17013 Proximity to Subject Mount Holl 5 'n s, Pa. 17065 Mount Holl S rin s, Pa. 17065 Carlisle Pa. 17015 Sales Price Price /Acre $ N/A $ N/A " $4620.12 $ 45 000 _ _ $ 3846 96 $ 36,700 $ 30,000 Data Source Cumb.Co.Court Hous _ e . Cumb.Co.Court Fbus _ e $9615.38 Cumb.Co.Court Hous e Date of Sale and Time Adjustment DESCRIPTION N A DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) S Adjustment _ Location / Avera a/Ueek View 01/08/2009 Avera a/Ueek View 01/08/2009 Avera a/Landlodc 5000 09 19/2008 Avera Ueek View SiteNiew - Access 8.47 aces (m/L Public Road 9.74 acres m/L Privat ff P -4445 9.54 ayes m/L -3745 3,12 ages (m/L) 18725 Utllities Available All e o ublic Road 5000 Pdvate off Public Road 5000 2 Public Roads -5000 Fence/Improvements None All None Known All None Known All None Kn Appeal Average Av r own e a a Avera a Avera e Sales or Financing Concessions N/A Conventional Conventional Conventional Net Adjustment (Totaq _ N/A ®+ ^ - $ 555 N/A ®+ ^ - $ N/A Indicated V l 6255 ©+ ^ - $ 13725 a ue of Subject d Net Adj. % Nel Adj. % GrOSS Atlj. % 3 $45,555 Gross Adl. % $ $42,955 Gross Adi. % $ q43 725 Comments on Market D ata ~ Text Addend um Page.,,. Comments and Conditions of Appraisal See Text Addendum page... - Final Reconciliation "Date of inspection for the subject was 03/11/2009 Effective Date of the Appraisal however for purposes of this report is the date of the - decedent's pass(ng which was December 4 2008 Th , , ere was little or no a reaaUOn of value thru the 2008 iod, and none as of the first carter of 2009' Therefore com arables #1 & #2 were Included despt[e date of sale and without a ustment Also See " Flnai Reconcili ti " . a on on Text Addendum e... - 1 ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS OF • _ December 4, 2008 _ TO BE S 44 000.00 - APPRAISER ~ ~ >' SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature .n ----^^ Signature Name G. Arth laman Name Dale Report Signed 04/21/2009 Date Report Signed Certification or License # RL-139418 Stale Pa Certification or License # Expiration Date of Certification or License 06/30/2009 _ Stale Fmiratinn nom ~r ro.r~x,.~r,.., ,,,, ~.,,.,.., ._.._.. _-- -. -_.,..._",,,,,, ". ~,,,~,,,~ _ U uiu Lj uio Not inspect Property Form produced by United Systems Software Company (800) 969-B)27 www.unitedsyslems com (Rev 2006) B-H Agency Appraisal Services File No. 0400309 DEFINITION OF MARKET YALUE: 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 o1 financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession, but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICA71ON 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 Ilood 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, expressed 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 it 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, expressed 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 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. 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 io 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 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 organizations 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 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. U9W.7U`J repmtluced by B-H Agency Appraisal Services File No 0400309 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 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 comparable property is inferior to, or less favorable than 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 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 subject 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 of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants 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 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 exterior areas of 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. It 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. 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. Appraiser(s) signature has been electronically affixed to this report w/digitally protected signature(s) for the purpose of electronic transmission. SUPERVISORY APPRAISER'S CERTIFICATION: li 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 for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: Lot: Clemson Drive Carlisle, Pa 17013 APPRAISER: .-~-~ ,/ i ~, Signature: ( ;,,,~..- (/ ~..,_ti Name: G. Arthu laman Date Signed: oa/za./zoo9 State Certification #: R~ >.3sata or State License #: State: Pa SUPERVISORY APPRAISER: (only if required) Signature: Name: Date Signed: State Certification #: or State License #: State: F~epiration Date of Certlhcahon or License: oe/3o/zoo9 Expiration Date of Certification or License ^ Did ^ Did Not Inspect Property Mac Services TEXT ADDENDUM No. 0400309 Borrower/Client N/A Address Lot: gemson Drive City Carlisle - Unit N0. N/A COUnty Cumberland State ~ Zlp CDde 17013 Lender/Client Estate of Leon C. Morrison NEIGHBORHOOD MARKETABILITY FACTORS: Ne(ghbortxxid or Market Area of the subject Is within the Greater Carlisle Marketplace, and the location Is within reasonable commute to major shopping, employment, schools (both public and private) and recreational areas and fadlities. On lot water and septc sewage systems are typical for the area, and have no adverse effect on the marketability of properties. Utilities as well as police and rare protection aze adequate and typical for [he region. Front section of the site at entrance from the public road is in a FEMA declared flood hazard plain. This could have a negative affect upon a potential purchaser's desire far the property, and a negatve affect on value. I[ is my opinion that the property would still have an average appeal to the general market, depending on the desired use of the potential purchaser. COMMENTS ON SALES COMPARISON: The subject trod (s somewhat unique in the fact that It has very little road frontage, and according to FEMA Map 4204100232 E, that arxess frontage lies In a Flood hazard zone. The remainder of the parcel is In zone X which is clear of the flood zone. This would open the possibility that improvements could be built on that section of the land. To the Crest of this appraiser's knowledge, no probes, pert tests have been conducted for the possibility of a septic type sewage system, and no on site water/well possibility has been explored, thereby qualifying the tract as basic raw land. Finding "sold" comparable tracts of land of similar nature and characteristics to populate the "Sales Comparison Approach to Value" was not an easy task. I have dwsen three recent sales that in my opinion would have similar appeal because of size and doneness to a seek body of watts. The comparable properties used in [his analysis are In my opinion the best available at the present, and having been sold within the most recent months. All are relative in average locations and proximity, and very similar in nature. Adjustments have trees made to compensate for differences in the comparable properties where necessary. A modest adjustment of;3,500 p/acre or fraction thereof was used to adjust situs due to the nature and rawness of the land. Although neither the subject or any of the comparables lie totally in a flood zone, each is either partially or bordered by Flood zone areas. DEFINITIONS AND DATA SOURCES: EXPOSURE TIME: For the appraised property, the exposure time, based on the experiences of other similar properties In the same or similar neightrorhoods is estimated to be at three to six months, Exposure time Is backward looking, where there is hlstorltal data available that provides a reasonable indication of the amount of time that would have been involved to market the subject property being analyzed, and obtain a sale as of the effective date of the appraisal. This data has been considered and used in this estmate. MARKET TIME: Marketing tlme on the other hand Is forward looking, and Is expressed as an estimate (projection) of the time that would be required to market the subject property and obtain a sale. In this context, it should be noted that [have adhered to the definition of "Marketing Time" as put forth by the "Appraisal Standards Board" and Included In this report. This definiton adrses that marketing tlme does not begin untll two things take place: (1) an offering of the property at a price that marketing participants find acceptable, and (2) an effective marketing plan is implemented. SCOPE (EXTENT) OF AppRAISAL: In the preparation of this appraisal, I have made a physical Inspection of the site and the Improvements (if any). I have traveled the neighborhood and If necessary, made appropriate observations or notes. Data sources employed In addition were the zoning map or officer and ordinance far the munlclpallty, the recorded deed or legal desttlptlon, the tax assessment parcel records, local multl-list records, and the FEMA maps for the lomtion, If required. Corisideratlon has been given to the highest and ties[ use of the property, and all three approaches to value, with appliratbn to those most relevant and appl(cable to the valuation of the subject. Data referring to Predominant Occupancy, Sngle Family Age and Prldng, Present Land Use and Changes are reflecting statistics for township/borough/general area, not for precise subject neightxxhood. Other aspects of researdt and analyses relating to the Scope of Work performed as to the development of the assignment, and results and conclusions of this report, are found and disclosed In other sections throughout. CCCH & CPML are anonyms for the Cumberland County Court House and Central Penn Multi-List respectively. These were the primary sources used to secure property data. In addition, already verified Information and data from my own files was used if needed, and where appropriate. All information developed was independently verified where public sources did not provide needed verlflcatlon. I may have contacted listing or sale agentr or other parties to the transactlons, if I felt it necessary to verify data listed in CPML, as well as any suspected urardlnary seller corx:esslons. In the valuation process, all appropriate value approaches, or their exclusions are mentioned In appropriate sections of the report. CONDITIONS OF APPRAISAL (DISCLOSURE): The appraiser(s) is unable to know a verify, and in most instances unqualified m determine or verify arW leaking storage tanks (above or below ground), and soil contaminates or any type of contamination. The quality of any dr(nking water cannot be tested or verified try the appraiser(s). The appraiser(s) has no expertise and is unqualifed to make any assumptions, statements, or warranties as to the condRion of any on or off site septlUsewage system If present. The appraisers rs not qualified to test for any contaminates In, on, or around the property, and can make no assumption as to whether or not they are present. It is to be noted however, that if any of the afore mentioned items are present, the market value could be adversely affected or Notated. The appraiser(s) has made every effort to look, notice and document if observed, any apparent or unusual appeazing drevmstance in, on or around the property at the time of the inspection process. NO VALUE is given as to storage sheds, pools (above or in-ground), swing setr, normal fencing, or other Items or exterior structures of perceived value, unless spedfically noted in the report. Line adjustments are not market extracted values due to lade and inwnsisterxy of adequate market data, and therefore are subjective in nature. FINAL RECONCILIATION: This report Is a Summary Appraisal Report. In the opinion of the appraiser(s), the "Sales Comparison Analysis" represents the best indication of market value for the sut>jed, as defined In the "Statement of Liml[Ing Conditions" contained In this report. This approach to value was given the strongest consideraCton in estlmating the subject's market value as of the date of the appraisal. The "Irxome Approach to Value" was not considered, as the area Is predominately owner occupied, therefore limiting the amount of available rental data that would be necessary to accurately complete that approach to value. PRIVACY NOTICE: Pursuant to the Gramm-Leach-Billet' Act of 1999, effective July 1, 2001, appraisers and all providers of personal f'inandal services are now required by federal law co inform their clients of polldes with regard to the prlVdly of dies[ rlDnpUbIIC personal Infwmalon. In the course of research for this appraisal, we may collect what Is known as "nonpublic personal information." Thls Information Is used to facilitate the service that we provide, and may include Information provided to us by you, or Indirectly provided to US from others with your authorizatlon. We do not disclose any nonpublic personal Information obtained in the course of our enga9~nent to nonafflilated third parties, except as necessary Or as required try law. A necessary disclosure would be to an independent contractor, a In certain sltuatlons to third party conwltants who would need to know certain information to assist us in providing these appraisal services to you. Should a disdosure of this nature to any person or firm assisting In the appraisal process be necessary, such persons shall be advised that all Information is to be maintained in strict confidence within the firm. A disclosure required by law would be one that is ordered by a court of competent and legal jurlsdidion, with regard to a legal action to which you are a party. we will retain records relating to the professional services that we have provided for a reasonable tlme. In order to protect your nonpublic personal information from unauthorized access by others, we maintain physical, electronic and procedural safeguards [hat comply with our professional standards, to insure security and the integrity of your Information. farm prdduced 6t' United Systems Software Company (800) 969-W21 www.uniledsystems.wm B-H Agency Appraisal Services File No. 0400309 SUBJECT PLOT MAP Borrower/Client N/A Address Lot: Clemson Drive Unit No. N/A City Carltste CDUnty Cumberland State ~ Zip Code 17013 Lendef/Client Estate of Leon C. Morrison a ~; i` ,~` ~.,,. _ 1 ~-+~ r f. 1. ~ 5 ~ 1 p _ ...._ .:...._ ~ _ ~ *; cr, rte" „'~` t r ~-l ~ Z / ~~ ~~~ '~ _ u, a F„r. ..., ~ ~~ ;+~,~ ~ ~ ti~~ •rr" ., ~,} ~ \ ~~ a t k r 15 L" I t ~. t , r .. ~ St.d~j ~c>~ I,t~t (:1~n~~;r~n Dr iv~~ . Form produced by Uniteo Systems Software Company (BDD) 969-8127 www.unitedsystems.can 8-H Agency Appraisal Services File No. 0400309 SUBJECT FEMA MAP Borrower/Client N/A Address Lot Clemson Drive City Carlisle _ Unit No. N[A County Cumberland State Pa _ Zip Code 17013 Lendef/Client Estate of Leon C. Morrison _ r o a ~ ~ ~ ' r ~ ~ ~ P ~~ ~- 6 ~ } ~~ . . ,,., , `:3, z ` rtFt Ij =~ ~'- ~i 7 . ~ y ... ~~ E .a • ~~ t. ~3 '! r ~ ~~ ~~ A. _ ~ .. r' 1,t1 ' <~~r z ~~ ` ZONE X ~ 'a: ,__,~~ r.~,~y.~,.,,,~~ ~ ~'kY - G '.~ *. .r ~ ~w+ , ~ x .. ~ ,, . .. ~ ~ya~nr' r~u,~ ~, ~ .~ ~. ~ l,i'~, ;y I , t ~ ~ - ~- ~. ` ~ - ~ a. ~,,~' ` ~ ,~ t Y ,. ~* .~ - e - . ~.~ --_ ~ ~ .~~.~ x ! . ~: a ~ ~ `I C''l}t11 E~ E ' ,~ r ( li ~ '.. c l~'' ~1 11 ~ +.. + ( 1 S •~ arM• Y,4` '-~_ ~ K~'!I tit •~ ~. ~ _._._,M~c~ ~'~ ~ ~ ~' 3, .,t t t~r~ ~~`r~~..~~"- ~ ~ ZONEX Subjectlot from F'E.A9A h1~ 9?_G41C 3?.1 I]at.e>r! O3/16/2QQ3 c~l.early shoa~s front of property in E'lcxx3 Haz••ard Zc>nc} Fam produced by United Systems Soltware Company (800) 969-8727 www.unitedsystems.com B-H Agency Appraisal Services File No. 0400309 COMPARABLE #1 PLOT MAP Borrower/Client N/A Address Lot: Clemson Drive Unit No. NIA City Carlisle Cou0ty Cumberland State ~ _ Zip Code 17013 Lender/Client Estate of Leon C. Morrison . ,, "r~ i s _: Err _ ;. ter. ,K ~T-, o .;. _ ~. ., _ __._.. .. _ .. - , ~ ,. r ,~, ~ ,,,~t,.~„ ~~ ~,: '~ f. . ,~ _, w ,.~. „~ t ~~, H .'~r~"~'~ .. ~~ ._ ~. _. ~... .. - i -~ ;. ~__- .~ _~ ~ , , , _ ~sf ~~ ., ~~ ~ .-. ,, ~~, ~. , .~- r . , _ ,fir.. '~ ~' - ~ -- ~;~rz~ ~t~ ~ ~ ~ .~ _ ~fqP v I ~`'r. l ~ - ~ ', _ T. Wit: Uu9 Ftr 1?ine f2crt~ Form protlucetl 6y United Systems Software Company (800) 969.8721 www umteosystems cam B-H Agency Appraisal Services File No. 0400309 COMPARABLE #2 PLOT MAP Borrower/Client N/A Address Lot: Clemson Drive City Carlisle _ Unit No. N/A County Cumberland State ~? _ Zip Code i~ot3 Lender/Client Estate of Leon C. Morrison .. ~ ~...Y~r.~ ~,.•~ L ~~ ao 12 a;so-exri rsi ~ ,J ~ ~1~///~' ,~-*r 4 ,. ~ ~ .x;s r l' ~~E ,. ~`~r t~ : ' ~4, ~ ,. ~~ ' ~ ~~~ `~ ~ ," r ti' 1 -~ ~ -~ - .~ _ _~,,,q.v ~~~ ~ y ~~ ~ ~ ~ ~ ~ ,._~-T.--.rxq~'. -c si ~tl 7 w , Jt ~ 114 ~ - { ~~ ~ ~ ~ ; S ~ 1 .. i ~. i I y_ ~~ ~~ ;_.~ . :got t)03 Pi.rr. ft;xa!J Fam produced Dy United Systems Software Company (BOO) 969-8727 www.wire0systems com A-H Agency Appraisal Services File Na 0400309 COMPARABLE #3 PLOT MAP Borrower/Client iv/A Address Lot: Clemson Drive City Carlisle COUOty Cumberland State Pa UNt N0. N/A Zip Code 17013 LeOder/Client Estate of Leon C. Morrison ..... .... ... ... .A vn~.,. x ,Y • x ~ .n ,, t-.A 77 fiV? r~~ t A t ~;` ~...~ -~-- ti .~ ,. .~* . ~< , ,, y+ 1~ ..... . , > ~r~ ~~+x r i`, '~ J~`~ ~ t~~ i~rl` ~ F f ' .~, ~ ~ .~ ~ ~ ~,. t, s ~~` x j< . ~ ~ ~ ^~; r ~~ ~ ~- `, y' (~~ ~ -yam?vk _~ 11 F }R ~/ ~' Js -'` `~ ~ ~ f VV n J~ r~~.~: jr ~ ._ I ..., L .n>J ~(:l +yi'4~n.' / ~ ~ ~F n~ 1C `1~1~f'~ 1 ~Q ~ ~ ~Y p¢y, /f( f~ y ~~, ' '.tip / ~ ~~P~~R ~ h ~f ~ r Y .r , r ( r++M ~ ~ t^ f pP. _ ' ~ ~ e~ ' ~~ ~~ ~ ~~ l ___ = t ~' ;.~ . : ., .. , _ Lei. 006 Watt. T,ane Form produced Gy United Systems Soltware Company (e00) 969-8727 www.unitedsystems wm B-H Agency Appraisal Services File No. 0200309 Sc~.~,T,~C~ G, ~.~' y~ -t . za z... 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TC; EASr, t;PiD TO ?{i~L1 t}l.~ si1C; .. ::: :~' [)i°Cc 'vL r~.LC't1rtC ~ii;;QY:. 3.4;i C: T'k1•=: ri~: Nlt}i tr.G i~;ss+.:aqv. ur tenet;-.cnt tn:rec;n. r.. <-rcted, t:e.re•9.11-.aments and p.'erni~--, ?tr:-=i, g?=ar~~~c!; o~• rle~ticned ,>n'u ....te^c]sd , .- ~o :e, •.c i.t.h fire appurtenances, ~ntc the ~'~ 1)is ~~ ar,:- sstscci;~s-s:;rs( a-,d assi~rs, C.o and fc.r `he o::ly ~resper use undvbcrt:cof ~= tl.' Gran~eµ, i;.i.$ ssu;c~....,,rs ar.3 a;as;iy^. f~rw~z . A?<'0 the Grar.;:cr, i::: }iiciself., hia F.ezr^ -:~e_=cna1 re:?-G:3L'.IiC.7~ LVrda 9'llJ 3En1g115~,°C;^..Cf,~~ CG'.•"BI]3.I]t, pXt70t].w:p unc: 3CrC'C, !; (. red F:i t}) t_Y:e ^z•ar. t:ae., aiC iiCCc S::nrS dt]^. d591~i?i7. ,`:'f t}iCS@ _ssF~s)r .;~3- h~, tPte.Grarst-or, :-is..:ei.r.~, p~.rsorsal _apresentu,'_•ae:s ar..d ;tire?.or_s',' ali 2.~c ~inau7.ar the he~:sditar:er:ts an;: x'err::~cs kte~-e;ay grursreci'or m~=nt3.one~d.s,r[d itttardeu+ sc r_c; l:e, .,._:::~~ tht aptu~t~narc:es, us)to the 3r-acCFe, ::).s :~uccFsnor:s anc assigre,, agai_t: ta_em, *_he .:_ar!::a.r,:n.w._eirs, ,~~•t:sc;nal = =p=csentatzv.as anc. a._a._;icrss, ~ ana ag~iil~t all n[td r•rery pervsor. a:ir. pex_~:rs v'somsoe";i[:Z' laP:ltal;~ taecire:irsg c,. t.o i;lait:t tha Sane err as)f part t}s~reof, bp, f_om or a^c1er.~;:;.^s, i••~er: tiae:~ car a-!y of them, _.%.• 3•?OJa ;.a3:e' FLJ CU1d6ER1. ht•.D CCiUNI'" .nnLd 't:i3L't t2a2 - ('~_.: 2 of Fwm protlucetl by Unitetl Systems Software Compatry (600) 969-8727 www uniletlsystems.rgm B-H Agency Appraisal Services File No 0200309 B-H Agency Appraisal Services 163 N. Hanover Street Carlisle, Pa. 17013 (717) 243-1000 Ext. 216 Date :February 18, 2009 Client :Estate of Leon C. Morrison In accordance with your request, I have inspected, as per your Instructions, and appraised the subject property located at 102 N. Middlesex Road, Carlisle, Cumberland County, Pa. 17013. As per your instructions, the purpose of this appraisal was to determine "Market Vaiue" at the time of passing or date of death for Leon C. Morrison, in unencumbered fee simple title of ownership, and was done in Compliance with and as defined by "USPAP" and the Appraisal Standards Board. This report in it's entirety is intended and valid only for the intended use of the Client named in this report, and is invalid if photocopied or electronically transmitted, whether In part or in whole by anyone other than the Client or the State Certified Real Estate Appraiser(s) named in this report. It is intended solely for the Client, and shall not be used by anyone other than the Client without the prior written consent of the Client, and the State Certified Real Estate Appraiser(s) conducting the appraisal process. Note :This is a Summary Appraisal Report, and contains 12 pages (plus attachments or addenda as necessary), and any single page is invalid if detached or used separately from the entire report as originally submitted. This report was conducted and prepared with the utmost care and confidentiality, and was established with no pre-determined opinion of value on the part of the appraiser(s). Thank you for choosing B-H Agency Appraisal Services Art Calaman Form produced by lJnited Systems Software Company (800) 969-8727 www.unitedsystems cam B-H Agency Appraisal Services Address: 102 North Middlesex Road City: Carlisle COUnt :Cumberland - UOIt NO.: N/A y State: Pa Zip Code: 17013 Legal Description: See Attached Deed Copv from Instrument # 200811262 BOrrOWef: N/A Lender/Client: Estate of Leon C. Morrison 0200309 Address: 82 Rfdge Avenue Carlisle, PA 17013 Prepared By: G. Arthur Calaman, Pa. Cert.# RL-139418 _ Company: 8FI Agenq Appraisal Services _ Address: 163 N. Hanover Street Carlisle, Pa. 17013 - Phone: (717) 243-1000 ext. 216 Fes; (717) 243-1718 Email: bhappralsal@comcast.net Prepared As Ot: * December a, 2008 Estimated Market Value: $ slsl,ooo.oo Lover Page with Photo and Contents Cover Letter Uniform Residential Appraisal Report Certifiption and Limiting Conditions Text Addendum Subject Photos Subject Photos Building Sketch Comparable Photos Location Map Legal Description Intended Use of This Report Is to establish Market Value ONLY: Not to be used for Mortgage Fnancing. Form pro0ucetl by United Systems Sofhvaie Compam (8001969-8727 www.unitedsystems com 8-H Agency Appraisal Services File No. 02003D9 NOT TO BE USED FOR MORTGAGE FINANCING PURPOSES Property Deseriotion UNIFORM RESIDENTIAL APPRAICSf Rr:taADT Fiie No. 0200309 r ~~ ~~r nwrcaa ,u~ rwnn r•uugresex twag Ci Carlisle State Pa Zi Code 17013 Le al Descri lion See Attached Deed Co from Instrument # 200611262 Coun Cumberland Assessor's Parcel No. 21-17-2696-008 Tax Year 08/09 R.E. Taxes $ 1 950.00 S eclat Assessments $ None Known Borrower N/A Cunent Owner Estate of Leon C. Morrison Occu nt Owner Tenant Vacant _ _ Propeny ri hts ap raised ©Fee Simple ^ t2asehold Pro'ect Type ^ PUD ^ Condominium (HUDNA only) HOA $ N/A /Mo ' . Nei hborhood or Pro ect Name NJA Ma Reference 21 17-2696-008 Census Tract 0118 Sales Price $ N/A Dale of Sale N/A Descri lion and $ amount of loan char es/concessions to be aid b seller N/A Lender/Client Estate of Leon C. Morrison Address 82 Ridge Avenue Carlisle PA 17013 A raiser G. Arthur Calaman, Pa. Cert.# RL-139418 Address &H envy Appraisal Services 163 N. Hanover St. Carlisle, Pa. 17013 Location ^ Urban ®Suburban ^ Rural Predpminynt S family hou SG g Present land use % Land use change g A PRI CE Built up ^ Over 75% ^X 25-75% occu anc ^ Under 25% $(000) (yrs) One family 8 ®Ngt likely ^ Likely Growth rate ^ Rapid [] Stable ^ Slow ®Owner 72k Low 0 2-4 family ^ In process Property values ^ Increasing [~ Stable ^ Declining ^ Tenant 539k Hi h iDO+ Multi-family To _ Demand supply © Shortage ^ In balance ^ Over supply ^ Vacant (0-5%) Predominant - Commercial 1 Marketing time ^ Under 3 mos. 3-6 mos. Over 6 mos. ^ Vacant (Over 5%) 130-150 60+ ( Other ) Note: Noce and tha racial comDOSitlon of the nelghhorhood are not appraisal factors. _ Neighborhood boundaries and characteristics: Subject is situated NE of the Carlisle Borough Ilmlts I[ Is bounded to the north b West Middlesex Dr ; to the east . by the Carlisle Coun Club; to the south I-81; to tfie west Wolfs Brid Road . _ " Factors That affect the marketability of the properties In the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): ' Sub ect ro rty is in the rester Carlisle Pa. Market Area. Ma'or roadwa s, em to men sho i schools both bl(c and private are within reasonable driving distance. Utilities as well as fire and police protection are present and adequate for the area It is my opinion that the wbject property is In fair to avers a condition and would have avers a marketin tentlal, despite the fact that Is 1n the flood lain. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of properly values, tlemand/supply, and marketing time --such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and tlnancing concessions, elc.)~ Employment, mortgage rates and houslng inventories have remained fa(rly stable in the area and althou h interest rates are fluctuatin the market is stable. Pro rty a reCiation has had little or no Increase over the st ear. Avers a marketin time for similar ro les In this area would be u to 90 da s but could be u wards to 180 da .Seller concessions In the form of closin cost assistance to the buyer are relatlvel common but usual don't , exceed $3000 to $5000. _ Project Information for PUDs (If applicable) -- Is the developer/builder in control of the Home Owners' Assoclatlon (HOA)? ^ Yes ^ No _ Approximate total number of units in the subject project N/A . Approximate total number of units for sale in the subject project N/A Describe common elements and recreational facilities. N/A Dimensions See attached legal desviption in addenda section Level To o ra h Site area 3.49 aces (m/L) Corner Lot ®Yes ^ No p g p y Slze 3.49 ayes (m/L) Specific zoning classification and description Residential Shape Irv ular Zoning compliance ~ Legal ^ Legal nonconforming (Grandfalhered use) ^ Illegal ^ No toning Drainage Appears to be adequate Highest 8 hest use as improved ®Present use ^ Other use (explain) View Typical Residential Utilities Public Other El i t i ® Ott-site Improvements Type Public Private _ Landsraping Avers e ec r ty c Gas Propane possible Street Macadam _ © ^ C Driveway Surface Macadam ® Water urb/Gulter Norte Observed ^ ^ Apparent Easements None Found or observed Sanitary Sewer ® Sidewalk None Observed ^ ^ FEMA Special Flood Hazard Area ©Ves ^ No Storm Sewer None Observed Street Lights None Observed ^ ^ FEMA Zone A9 Ma Date 06/15/1981 p All None Observed FEMA Ma No. 420363 0015 e Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use etc.): None observed or found Burin the , normal course of research of this GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Units Sin le No of Stories Two Foundation Stone E Slab N A Area Sq. Ft. 702 m/L Roof ^ . Type (Det./Att.) Detached xterior Walls Aluminum 51dIn Roof Surfac Crawl Space N/A % Finished 0 ^ Ceiling Design (Style) 2 St e Metal Gutters & Dwnspts. Aluminum Basement Full Sump Pump Yes Ceiling RaRer W ll St Walls 0 Existing/Proposed Existin Age (Yrs ) 139 Window Type DbI.Hn Dampness None Obsrvd a s one Floor Concrete Floor None ^ . s m L Effective Age (Yrs.) IS-20 yrs. (rn/L SlontVScreens Some Manufactured House No Settlement None Obsrvd Outside Entry Yes Unknown _ ROOMS Po er Livin Dinin Kitchen D Infestation Unknown ~ e ~t Add m Pg. Basement en F amil Rm. Rec. Rm. Bedrooms # Baths Laund r A Other S F Level 1 1 1 1 702 m/L - Level2 •5 1 1 926 3 1.00 702 • Finished area above rode CogtaiNS: 8 RDOmS 3 Bedroom s 1.50 Baths • 1628 S uare Feet of Gross Livin Area INTERIOR Malerials/Condition HEATING _ KITCHEN EQUIP ATTIC AMENITIES CAR STORAGE: Floors C tMn:Avera a Type HW Steam Refrigerator None ^ Fireplace(s) # 0 ^ N one ^ Walls Plaster: Fair/Aver Fuel OiI Range/Oven Stairs Patio None Obsrvd Trim/finish Wood: Fair Aver ® ^ Garage # of cars Condition Ave rs Disposal Drop Stair ^ Deck None Obsrvd ^ Attached Bath Floor vin I;Avera a COOLING Dishwasher Scuttle Porch F Side Bath Wainscot Vin I: Ave. Central No ^ ~ © Detached 3 FaNHood Floor ® Fence None Obsrvd ^ Built In D - oors Wood: Averse Other None Microwave Heated ^ Pool N A ^ Car orl All Floor Covering Is in Average Condition Condition p Washer/Dryer Finished ^ Balcony 0 Driveway Additional features (special energy efficient items, etc.): None Observed Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Home is in fair to aver condition with no hyskal functlonal a [ ex emal obsolescence. U atin and modemizatlon could be done to better ual rods 's standards and im rove value. No needed repair was noted at the time of inspe~*fon no e i _ ., r pa rs were In Drggre55 Quality of mnstruc[ion is avers a to the area and rind. Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances etc ) present in the im rovem t th i , . p en s, on e site, or in the mmediate vicinity of the subject property: None observed...NOt qualified or certified to see or test See Text Addendum Page. he ddie Mar. Fnrm 70 F-oz ~~", icpmwceu uy unneo systems Software Company (800) 969-8727 www.unitedsystems.wm -Page 7 Fannie Mae Form 1D04 6-93 B-H Agency Appraisal Services File No 0200309 valuation section UNIFORM RESIDENTIAL APPRAISAL. REPORT „~,,,,~,,,, ESTIMATED SITE VAWE _ $ N/A ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: Comments on Cost Approach (such as, source of cost estimate, site value square Dwelling Sq. Ft. @ $ _ $ N/A loot calculation and, for HUD, VA and FmHA, the estimated remainin economic 9 _ Sq. Ft. @ $ -_ life of the property): Due to the a e of the subject improvements, the - _ Cost Approach to value was not used. The Cos[ roach is onl Garage/Carport Sq. Ft. @ $ - considered for dwellin s of "New Construction" or for an actual Total Estimated Gost-New .. _ .. _ $ N/A sical a e of less than five ors. It is the opinion of this a reiser - Less Physical Functional .. External that the "Cost A proach" to value is inad uate and not appr riate in ~ an anal is of a dwellin & im rovements of the actual hystcal a of Depreciation =; this sub'ect, and would not field an accurate re resenta[ion of Market Depreciated Value of Improvements ...................... _ $ Value. It was therefore not considered. "As-is" Value of Site Improvements ... ................... _ $ INDICATED VALUE BY COST APPROACH ........... . .... _ $ N/ ITEM S BJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE 0 3 102 North Middlesex Road 267 Longs Gap Road 1162 Newville Road . 552 Gutshall Road Address Carlisle, Pa 17013 ' Carlisle Pa. 17013 Carlisle Pa. 17013 Rollin S Tin s Pa. 17007 Proximi to Sub ect 2.9 MI W 5.0 MI WSw , 7.1 MI SSE Sales Price $ N/A $ 137000 _ $ 165,000 $ 134 990 Price/Gross Liv. Area $ S 96.75 $ 102.48 $ 86.53 Data and/or Int./FxL Inspection CPML &CCCH CPML &CCCH CPML &CCCH Verification Sources CCCH Drive-by Ext. Ins Ion Drivrby Ext. Ins ion Drlv~b Ext. Ins lion VALUE ADJUSTMENTS DESCRIPTION_ DESCRIPTION + - Ad ustment DESCRIPTION + - Ad'ustment DESCRIPTION + - Ad ustment Sales or Financing Cash VA FHA Concessions N/A N/A Date of Sale/Time ' 07/11/2008 08/04/2008 N/A 08/29/2008 Location Avera a Avera Avera a Avera e Leasehold/Fee Sim le Fee Sim le Fee Slm le Fee Slm le Fee Sim le Site 3.49 aces m/L) 1.09 acres m/L 4800 0.31 acres m/L 6360 0.15 aces (m/L 6680 View T ical Residential Residential Residential Residential Desi n and A eat 2 S 2 Sto 2 Sto 2 Sto Oualit of Construction Average to Period Built Average to Period Built Average to Period Built Avera a to Period Built A e 139 m/L 61 s, m L 77 rs. m L 109 rs m L Condition Avera a Avera eGood -SOOO Good -10000 . Good -10000 Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths T t Room Count 8 3 1.5 8 3 1.0 1500 8 4 1 0 1500 o al 6 Bdrms Baths Gross Livin Are . 2 2.0 -1500 - a 1628 S . F1. 1416 S . Ft. 4240 1610 S . Ft. N/A 1560 S Ft N A _ Basement & Finished Full Conae[e Full Concrete Full Concrete . . Partial Concrete Rooms Below Grade None None None None Functional Utili Ty ical Typical T ical T ical - Heatin Coolin Hw Radiators/NO C. Air FHA/Na Central Air HWBB No Central Air FHA/Central Alr Ener Efficient Items None observed None Known None Known -2800 None Known _ Gara a/Car ort Porch, Patio, Deck, 3 Car DeL Pord~/Porch/Balcony C- rt 1 Car 5500 Porrh/Enc Porch/Palo 2 Car Det. 1500 None Known 6500 Fire laces ,etc. None . N/ None Known Porch/patio 1500 Porch/Porch 1500 Fence Pool, etc. None None observed None Known None observed None Known Exterior Finish ' Aluminum Vin I Stuao N _ Aluminum N/ None observed Vinyl Net. Ad . total X + - $ 11040 X + - $ 860 N A / + - $ Adjusted Sales Price G: 15.369'0 0 G: 12.64. /o 380 G: 21 479' of Com arable Comments on Sales Com parison (including the sub N: B.O6% $ ;148,040 ject propertys com atibili t tt i h N:. 0.52% $ ;165,860 . 0 N: 0;28% $ ;135,370 ' subject area, and ther efore the 5earrh area p ty o re ne g borh was expanded to find simila d lli ood, etc.) No same or similar o es were found within the immediate in my o inlon [he very best available at the r we n present, and fwving been sold within t with recent sale dates. The cAm Tab he mast recent months All are relati le proper0e5 used In this anal sis are i l nature, s le, size and condition. Adjustmen ts have been made to compensate for ve differences In the comparable properti n ox mi and ve similar in es where ne of 20 / sq.ft. was u sed to calculate above round finished livin a i cessa , A modest fi ure $2,000 acre was us ed for differences in si rea n excess o tes. f 100 sq.ft. Because the sub Is in a Flood lain a minimal ad'ustment of ITEM SUBJECT OMPA BL N , 1 COMPARABLE N MPARABLE N0.3 Date, Price and Data 04/10/2008 01/24/2006 Not Published thti assessment data 09/06/2006 Source for prior sales CCCH CCCH CCCH CCCH within year of appraisal $1.00 128,000.00 Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and com bl S O O b' ~ para es with n u on ear of the date of appraisal: ect Is not, was not has not been listed for sale In the last 12 months Pro i t f . es rans erred on dates shown and have not been sold since. Sub ect was transferred from individual own hi t ' ers p o individual s trust on date shown. INDICATED VALUE BY SALES COMPARISON APPROACH , , . , , , , INDICATED YAWE BY INCOME APPROACH (If Applicable) Estimated Market Rent $ N/A ~ ~ ~ ~ ~ ~ ~ " "' ' " "' ' $ 151,000 /Mo. x Gross Rent Multi Iler N A . $ N A The appfaisal is made ®"as is" ^ subject to the repairs, alterations, inspections, or conditions listed below ^ subject to completion er la d C * p p ns an specifications. onditions of Appraisal Date of ins of the ro was 02/10 2009• Effective date of the A sisal for u of this re rt is the date of the decedent's assin which was December 4 2008 Al T . so see ext Addendum a for additional comments on conditions of the ap sisal. Final Reconciliation: See "Final Recondliation" on Text Addendum pane... The purpose of this appraisal is to estimate the market value of the real property that Is the subject of this re t h d por , ose on the shove conditions and the certification, contingent and limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/F i M F ann e ae orm 10048 (Revised N/A _ I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED OF THE REAL PROPERTY ) , THAT IS THE SUBJECT OP THIS REPORT, AS OF * December 4 2008 (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE GATE OF THIS REPORT) i0 BE S $151,000.00 Appraiser(s) signahrre has been a virally affixed to this report w/digitally rotected i ' p s APPRAISER: / gnature(s) for the purpose of electronic transmission. - ` f SUPERVISORY APPRAIS ~ ER (DNLY IF REQUIRED): Si nature ~ ! ~-~-- -- . tr ~, Signature Name G. Arthur aman Pa. ~ rt.# RL-139418 ^ Did ^ Did Not Name Date Re rt i ned 02/18 2009 Inspect Property St t r itiralion # RL-139418 Date Reood Signed I to Pa State Certification # Or State License # t t Stale Or State License # FrenAie Mac Fnrm ~n a_oa ~~~~~ mµuuucea oy umrea Systems Sollware Company (8001 969-9 72 7 www uniteds stems tom - Pa e 2 state y 9 Fannie Mae Form 1004 6-93 B-H Agency Appraisal Services _ File No. 0200309 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 alfected 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 far the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession, but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF 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 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.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 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 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. 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 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 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 organizations 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 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 he conveyed by anyone to the public through advertising, public relations, news, sales, or other media. VNWV7 8-H Agency Appraisal Services File No 0200309 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 o1 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 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 comparable property is interior to, or less favorable than 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 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 subject 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 of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants 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 mortgage loan. 1. 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 interior and exterior areas of 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 marketabi lity of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal reporl. It 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. I have not authorized anyone to make a change to any item in the report; therefore, ii an unauthorized change is made to the appraisal report, I will take no responsibility for it. Appraiser(s) signature has been eleRroniplly afnxed to this report w/digitally protected signature(s) for the purpose of electronic transmission 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 for the appraisal and the appraisal report. ULUU,7U`J ADDRESS OF PROPERTY APPiIAISED: 102 North Middlesex Road Carlisle Pa 17013 APPRAISER: , !r~ '~~~ Signature: 1 ' ---_ Name: G. Arthur lamas, Pa.;Cert.# RL-139418 Date Signed: oz/ls/zoo9 State Certification #: RL-139416 or State License #: State: Pa SUPERVISORY APPRAISER (only if required): Signature: Name: uate Signed: State Certification #: or State License #: State: Expiration Date of Certiflcatlon or License: oe/3o/zoo9 Expiration Date of Certification or License ^ Did ^ Did Not Inspect Property B-H Agency Appraisal Services File No 0200309 TEXT ADDENDUM Borrower/Client N/A Address 102 North Middlesex Road Unit No. N/A City Carlisle County Cumberland State Pa Zip Code 17013 Lender/Client Estate of Leon C. Morrison vcra1rt 11V1'1, AIYV UAIA SOURCES: EXPOSURE TIME: For the appraised property, the exposure time, based on the experiences of other similar properties in the same or similar neighborhoods is estimated to be at three to six months. Exposure time is backward looking, where there is historical data available that provides a reasonable indication of the amount of Ume that would have been involved to market the subject property being analyzed, and obtain a sale as of the effective date of the appraisal. This data has been considered and used in this estimate. MARKET TIME: Marketing time on the other hand is forward looking, and is expressed as an estimate (projection) of the time that would be required to market the subject property and obtain a sale. In this context, it should be noted that I have adhered to the definition of "Marketing Time" as put Forth by the "Appraisal Standards Board" and Included In this report. This definition advises that marketing time does not begin until two things take place: (1) an offering of the property at a price that marketing participants find acceptable, and (2) an effective marketing plan is implemented. SCOPE (EXTENT) OF APPRAISAL: In the preparation of this appraisal, I have made a physical inspection of the site and the improvements (if any). I have traveled the neighborhood and if necessary, made appropriate observations or notes. Data sources employed in addition were the zoning map or officer and ordinance for the municipality, the recorded deed or legal description, the tax assessment parcel records, local multi-list records, and the FEMA maps for the location, If required. Consideration has been given to the highest and best use of the property, and all three approaches to value, with application to those most relevant and applicable to the valuation of the subject. Data referring to Predominant Occupancy, Single Family Age and Pricing, Present Land Use and Changes are reflecting statistics for township/borough/general area, not for precise subject neighborhood. Other aspects of research and analyses relating to the Scope of Work performed as to the development of the assignment, and results and conclusions of this report, are found and disclosed in other sections throughout. CCCH ~ CPML are acronyms for the Cumberland County Court House and Central Penn Multi-List respectively. These were the primary sources used to secure property data. In addition, already verified information and data from my own files was used if needed, and where appropriate. All information developed was independently verified where public sources did not provide needed verification. I may have contacted listing or sale agentr or other parties to the transactions, if I felt it necessary to verify data listed in CPML, as well as any suspected unordinary seller concessions. In the valuation process, all appropriate value approaches, or their exclusions are mentioned in appropriate sections of the report. Photos of the comparable properties were downloaded from file data to depict condition at time of sale. CONDITIONS OF APPRAISAL (DISCLOSURE): The appraiser(s) is unable to know or verify, and in most instances unqualified to determine or verify any insulation or "R" factor; also the presence of urea formaldehyde foam insulation (UFFI), any wood infestation or causes thereof, any lead based paint, any type of mold or mildew, any asbestos, the presence or amount of any radon, polyclorinated biphenyls (PCB's), chlorofluorcarbons (GEC's), leaking storage tanks (above or below ground), and soil contaminates or any type of contamination. The quality of any drinking water cannot be tested or verified by the appraiser(s). The appraiser(s) has no expertise and is unqualifed to make any assumptions, statements, or warranties as to the condition of any on or off site septic/sewage system if present. The appraiser(s) is not qualified to test for any contaminates in, on, or around the property, and can make no assumption as to whether or not they are present. It is to be noted however, that if any of the afore mentioned items are present, the market value could be adversely affected or violated. The appraiser(s) has made every effort to look, notice and document if observed, any apparent or unusual appearing circumstance in, on or around the property at the time of the inspection process. The appraiser(s) has only considered the dwelling and (terns permanently attached as realty. Personal or other items not permanently attached such as refrigerators, washers/dryers, window air conditioners, free standing stoves, portable dishwashers, etc. were not given value consideration in the appraisal process. Also NO VALUE is given as to storage sheds, pools (above or in-ground), swing sets, normal fencing, or other items or exterior structures of perceived value, unless specifically noted In the report. Utilities were on @ time of inspection and all plumbing, heating, air conditioning (if present), mechanical and electrical systems are assumed to be functional to the best of the appraiser's knowledge, however no warranty or expertise is stated in this report. Line adjustments are not market extracted values due to lack and inconsistency of adequate market data, and therefore are subjective in nature. FINAL RECONCILIATION: This report is a Summary Appraisal Report. In the opinion of the appraiser(s), the "Sales Comparison Analysis" represents the best indication of market value for the subject, as defined in the "Statement of Limiting Conditions" contained in this report. This approach to value was given the strongest consideration in estimating the subject's market value as of the date of the appraisal. The "Income Approach to Value" was not considered, as the area is predominately owner occupied, therefore limiting the amount of available rental data that would be necessary to accurately complete that approach to value. PRIVACY NOTICE: Pursuant to the Gramm-Leach-Billet' Act of 1999, effective July 1, 2001, appraisers and all providers of personal financial services are now required by federal law to inform their clients of policies w(th regard to the privacy of client nonpublic personal information. In the course of research for this appraisal, we may collect what is known as "nonpublic personal information." This information is used to facilitate the service that we provide, and may include information provided to us by you, or indirectly provided to us from others with your authorization. We do no[ disclose any nonpublic personal information obtained in the course of our engagement to nonaffiliated third parties, except as necessary or as required by law. A necessary disclosure would be to an independent contractor, or in certain situations to third party consultants who would need to know certain information to assist us in providing these appraisal services to you. Should a disclosure of this nature to any person or firm assisting in the appraisal process be necessary, such persons shall be advised that all information is to be maintained in strict confidence within the firm. A disclosure required by law would be one that Is ordered by a court of competent and legal jurisdiction, with regard to a legal action to which you are a party. We will retain records relating to the professional services that we have provided for a reasonable time. In order to protect your nonpublic personal information from unauthorized access by others, we maintain physical, electronic and procedural safeguards that comply with our professional standards, to insure security and the integrity of your information. form Drotlucetl by Unitetl Systems Solnvare Company (8001969-8721 uww.uniletlsysrems corn B-H Agency Appraisal Services File No. 0200309 SUBJECT PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 102 North Middlesex Road Unlt N0. N/A City Carlisle COUOty Cumberland State ~ Zip Cade 17013 Lender/Client Estate of Leon C. Morrison Front View Rear Yfew Street View Form produced by United Systems Software ComDarry (800) 969-8727 www.uaitedsystems.com B-H Agency Appraisal Services File No. 0200309 SUBJECT PHOTOGRAPH ADDENDUM Borrower/Client N//+ AddreSS 102 North Middlesex Road Unit No. N/A City Carlisle County Cumberland State ~ Zip Code 17013 Lender/Client Estate of Leon C. Morrison Detached Garage Form protluced by Unitetl Systems Software Comparry (800) 969-8727 www uniredsystems.com B-H Agency Appraisal Services File No 0200309 SKETCH Borrower/Client N/A ~ddreSS 102 North Middlesex Road Unit N0. N/A ;ity Carlisle COUOty Cumberland State ~ Zip Code 17013 ender/Client Estate of Leon C. Morrison 7.0' -- - - ------- b Slab 16.0' v Parch 7.0... - 0 o! covered ~ ~ Porch 5.0' ],Q' ----`- 16.0' o Covered o ~ °~ Parch °d b m IBalcany m First Floor c u~ Finished ', Living Area Second Floor Finished b ].~' n 7.0' Living Area 0 ~ o 00 23.0' 23.0 0 0 ap Covered Porch - ~ ap 23.0' 5~~ w ro...,,,. Comments: AREA CALCULATIONS SUMMARY Code Description Nst Slze Net Totals GLAl Firat Floor 926.0 926.0 GLA2 Second Floor 702.0 702.0 P/P Covered Porch 184.0 Covered Porch 126.0 Covered Pozch 70.0 Concret Slab Porch 28.0 Balcony 90.0 498.0 Net LIVABLE Area (Rounded) 1628 LIVING AREA BREAKDOWN Breakdown Subtotals Fizst Floor 18.0 x 23.0 414.0 16.0 x 32.0 512.0 Second Floor 16.0 x 23.0 414.0 16.0 x 18.0 288.0 4ltems (Rounded) 1628 • -~ ~ ~~~~~ ~r ~~~~~_~ ~n~=~~~ ounware wnipany rnuul eoe•nrzr www.unneosystems com B-H Agency Appraisal Services file No. 0200309 COMPARABLE PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 102 North Middlesex Road Unlt No. N/A City Carlisle County Cumberland State ~ Zip Code 1013 lender/Client Estate of Leon C. Morrison Sales Comparable 1 Front View Address: 267 Longs Gap Road PfOx, t0 SUbjeCt: 2.9 MI W Sales Price: $ 137,000 Gross living Area: 1x16 Total Rooms: s Total Bedrooms: 3 Total Bathrooms: 1.00 tDCallnn: Average Sales Comparable 2 front View Address: 1162 Neswille Road PfeX. i0 SUbjeCt: 5.0 MI WSW Sales Price: $ 165,000 Gross Living Area: 1610 Total Rooms: a Total Bedrooms: a Total Bathrooms: 1.00 Location: Average Sales Comparable 3 Front View Address: 552 Gutshall Road Prox. to Subject: Z1 MI SSE Sales Price: $ 134,990 Gross Living Area: 1560 Total Aooms: 6 Total Bedrooms: 2 Total Bathrooms: 2.00 LOCat10n: Average Fam produced by United Systems Software Comparry (900) 969-8727 www.unitedsysrems.wm B-H Agency Appraisal Services File No 0200309 LOCATION MAP per/Client N/A ,g 102 North Middlesex Road Unit N0. N/A 'arllsle County Cumberland State Pa Zip Cotle i~oL3 /Client Estate of Leon C. MOrflsofl - S \ ' t w: 1 ~ `.. - + n y ~~ ~.... 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E,1 fee:: to tyre _z~tsrnu r ,.<s,u, rare ,untee_re?.Ar:o CCUNTY . rs?.v 2J3, i t:?dt -Payer ,;I L form produced by United Systems Sothvare Company tA00) 969-8727 www unitedsystems.com B-H Agency Appraisal Services File No. 0200409 .UN?'1~II~IJEG ].u"34 a;.ces w..:,i k~_ing im~rr~v,~d v.~ita ~. fr•amt hu::se, k~~axn un:: o+-seer dui.?.r_~nys. 9EiP7C? a port- ic12 of the satr.~ p•emises whi.cl; L~GI? C . iaor•r. isar , by his 'lee:: daLE~-`. rfay ~ 20~ fi, z'enrict~_~ a~ recc:Ld .in r.h~. Cffi<:•e the [iec:c+itlrr o_ L;cgtls ~r.~ir'ar UUmbez'iand Coun_y in ~e~d 300}; ~7•', ?.aye _328 -Yar: id c.Tl~.. 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TU s]AV-.~.' ~?dD Tii iiiLL'~ z_•Ie :aaic;'J.dt:or piece of ground z:aove du_crihed, :J9.th •~h•~ rncssu<jy~ ~a: t~::2mert l':le.r.aon erected, .1 C.: T. r,Cl_t: a, R.v'I:t9 II:G [JrriTl.7.SfaG i:t re by-;yr:n t: i?~9, or m?rt. i.;neci a-2ti i.ntr±nded ao ;:a Le, wit}) r.1.r..~.L~:.).Ii't,?rlances, unto lira Grartr~d, his duCC?~tcrE and assigns, .o ard.'.z. c~r~~l-)e pnly rsrr~•v~~r use ancE behcot ca ,:ha E;r~+r.Cae, h's st,cc:.,sor-•_;.rd ;~sa~a)IS, ~rrevr;~r. ?~9:Ci ti)r, Grantor, for. hit;:as.l`L.~ h:•rs hc:ira, z)eraonal _~3p-resen`:ativ= ::znd etssi3*;S ;'-~~ucaS.aore_:art, DrOn)i.se arra 3grec, Co and -n .i.t.h t})•_ scat:te= hia . u_ :~sois .and assigns, by tt':ese }:~x~ess~t-s, that .__, tae Grar.tbr.,,: h°iE~' lir'..i~rt>, per5.)nal YeDrESC'.P. S:af: .LVF: :7 :iLld assig:IS ,~~.ai:i 'a*ic,~aingular the. aereditatmer.i*_s ..-..i Lr-:;tli sc» }'.ere.:}' ~ac~zitl T. E_C: G'Y l~°I':L 1011!'.... d-:CI inte:?dea .._ tt: bz; ~~itl: ci:c a(J'_.air'te::::.iCC;;, wizc ttie trani.ea, 'ais successors ztn;i assigr;r::, :aat.st: th~_r.:, *_he Granter, . }:is h;~ i <~G, ;sersona:L r,er~.resrnCati.•acs and assioti5, a>>c a:3ai:lst all ar_ci evr:ry person a.:d _-.2•scra uhor~:,ur,v~r ].a:,~';.1';::}• .claimtr. cr ~o clan^, the s3mi: car ~rir ~,:;r-- t`)~~rr'.r,~ hy, from G'c ,.u;cer nin:; h~:r, L-he)a or any cf ti_em, a})a1.:. an=. will , Suhje; Gs aicresa:_u .Y~~,RR~NT and fcrrver L'~_E')/^7L;. I1~Z N~It3Z~SS yV~ZG'~"~'Of , the Granter }.as 'narceu:Ito 6c C. :Iis I-.ar)c anc set•11.. Dats;t"thz:tiay:and year `iir5t i:k):>ve :arit_en. Sealed and 7elivered ' in ChA Presence of: • ...: , l t t. `! _._._.__` / ..._.._-- -- i,T.i'+:1A} -. ;+If.RRISQt; .,. ,3r)oov :z.5:2U?1d Ci_t~uLRLAMD w^UP17Y snsLa?U~.Y)?26i-P;td "L UtB Form produced by United Systems Software Company (B00) 969-8721 www.uniledsystems.com B-H Agency Appraisal Services File No. 0200409 B-H Agency Appraisal Services 163 N. Hanover Street Carlisle, Pa. 17013 (717) 243-1000 Ext. 216 Date :February 12, 2009 Client :Estate of Leon C. Morrison In accordance with your request, I have inspected, as per your instructions, and appraised the property located at 110 N. Middlesex Road, Carlisle, Cumberland County, Pa. 17013. (Parcel #21-06-0017-026A) As per your instructions, the purpose of this appraisal was to determine "Market Value" at the time of passing or date of death for Leon C. Morrison, in unencumbered fee simple title of ownership, and was done in compliance with and as defined by "USPAP" and the Appraisal Standards Board. This report in it's entirety is intended and valid for the use of the Client only, and is Invalid if photo copied in part or in whole by anyone other than the Client or the State Certified Real Estate Appraiser(s) named in the report. It is intended solely for the Client and/or the Intended Users, and shall not be used by anyone other than those named or referenced herein. Note :This is a Summary Appraisal Report, and contains 12 pages (plus the attached addenda), and any single page is invalid if detached or used separately from the entire report as originally submitted. This report was conducted and prepared with the utmost care and confidentiality and was established with no pre-determined opinion of value. Thank you for choosing B-H Agency Appraisal Services Art Calaman Form produced 6y UnifeO Systems Software Camparry 18(101969-8127 www.unifedsystems.com B-H Agency Appraisal Services File No 0200409 AddreSS: 110 N. Middlesex Road Unit NO.: N/A City: Carlisle COUnty: Cumberland $tyte; Pa Zip Code: 17013 Legal Description: See Attached Deed copy from Instrument #200811261 Borrower: N[A Lender/CIIenL" Estate Of Leon C. Morrison AddreSS: 82 Ridge Avenue Carlisle PA 17013 Prepared By: G. Arthur Calaman, Pa. Cert.# RL-139418 _ Company: B-H Agency Appraisal Services _ AddreSS: 163 N, Hanover Street Carlisle Pa. 17013 - Phone: (717) 243-1000 ext. 216 Fax: (717) 243-1718 Email: bhappralsal@comcas[.net Prepared As Ot: * December a, 2008 Estimated Market Value: $ 5161,000.00 Cover Page with Photo and Contents Cover Letter Uniform Residential Appraisal Report Certification and Umiting Conditions Text Addendum Subject Photos Subject Photos Building Sketch Comparable Photos Location Map Deed Intended Use of This Report Is to establish Market Value ONLY: Not to be used for Mortgage Flnandng. Fam oroducee nv unimA cuerom< c~m,~~.~ r,,,........ ,a ,~ ~.~+~, ~, .......wmeu~ys~enrs.cum B-H Agency Appraisal Services File No. 0200409 NOT TO BE USED FOR MORTGAGE FINANCING PURPOSES P~ooerir Descrlotion UNIFORM RESIDENTIAL APPRAISAL REPORT __ Flie No. o2oo4D9 Pro ert Address 110 N. Middlesex Road Ci Carlisle Stale Pa Zi Code 17013 Le al Descri lion See Attached Deed Co from Instrument #200611261 Coun Cumberland Assessor's Parcel No. 21-06-0017-026A Tax Year 08/09 R.E. Taxes $ 1965.00 m/L S ecial Assessments $ None Known Borrower N A Cunent Owner Lean C. Morrison Trust Occu ant Owner Tenant Vacant Property rights appraised ^X Fee Simple ^ Leasehold Project Type ^ PUD ^ Condominium (HUDNA only) HOA $ N/A /Mo. Nei hborhood or Project Name N/A Ma Reference (21) 06-0017-026A Census Tract 0118 _ Sales Price $ N/A Date of Sale N!A Descrl lion and $ amount of loan char es/concessions to be aid b seller N/A Lender/Client Estate of Leon C. Morrison Address 82 Rld a Avenue, Carlisle, PA 17013 A raiser G. Arthur Cataman Pa. Cert.# RL-139418 Address B-H en A sisal Services 163 N. Hanover St. Carlisle, Pa. 17013 Location ^ Urban ®Suburban ^ Rural Predominant Single family housing Present land use % Wnd use change Built up ^ Over 75% 25-75% ^ Under 25% occu anc P t $(0100) (yrs) One family 8 ®Not likely ^ Likely Growth rate ^ Rapid [~ Stable ^ Slow ~ Owner 72k Low 0 2-4 family ^ In process Property values ^ Increasing ©Stable ^ Declining ^ Tenant 539k Hr h 100+ Multi-family To: Demand/supply Q Shortage [] In balance ^ Over supply ^ Vaant (0-5%) ' Predomrrenl Commercial 1 Marketing lime Under 3 mos. 3-6 mos. Over 6 mos. Vacant (Over 5%) 130-160 40+ ( Other ) Note: Race and the racial compositiar of Ne neighhorhood are not appraisal factors. _ Neighborhood boundaries and characteristics: Subtect is situated Northeast of the Carlisle boro limits. It Ls bounded to the north b W Middlesex Dr.' to the east b the Carlisle Coun Club• [o the south by I-81• to the west b Wolfs &Idge Rd . _ Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): ' ~ Sub'ect roperty is in the rester Carlisle Pa. Market Area. Ma'or roadwa em 1 ent, sho pin schools both blic and private are within reasonable drivin distance. Utilities as well as hre and police protection are present and adequate for the area. It is my opinion that the sub ect roperty is in fair condition and would have fair/avers a marketin tential. Markel conditions in the subject neighborhood (including Support for the above conclusions related to the (rend of property values, demand/suDDIY, and marketing time --such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.): Em to ent, mort a e rates and housing Inventories have remained fairly stable in the area and although Interest rates are Fluctuatin ,the market is stable. Pro a recfatign has had little or no Increase over the st ear. Avers marketin time for similar o ies in this area would he u to 90 da s, but could be u wards [0 180 da s. Seller concessions In the form of closin cost assistance to the bu er are relative common but usually don'[ exceed $3000 to $5000. _ ProJeet Information for PUDs (If applicable) -- Is the developer/builder in control of the Home Owners' Association (HOA)? ^ Yes ^ No Approximate total number of units in the subject project N/a .Approximate total number of units for sale in the subject project N/A Describe common elements and recreational facilities: N/A ' Dimensions See attached legal descri lion in addenda section Level/Rolling Topograph Site area 1.63 acres (m/L) Corner Lqt ^ Yes ^X No y Size 1.63 ages (m/L) Specific zoning classification and description Residential Shape Irregular Zoning compliance ®Legal ^ Legal nonconforming (Grandfalhered use) ^ Illegal ^ No zoning Drainage Appears to be adequate Highest & best use as improved ®Present use ^ Other use (explain) View Residential Utilities Public Other El i i ® OH-site Improvements Type Public Private Landscaping None ectr c ty G ^ P Street Macadam ^X ^ Driveway Sudace Stone as ro ne sslble Water ^ Private n Sit CurWGutter None Observed ^ ^ Apparent Easements None Found or observed o e ry ^ Private on Site Sanila Sewer Sidewalk None Observed ^ ^ None Otn Street Li rv ht d ^ ^ FEMA Special Flood Hatard Area ^ Yes Q No Storm Sew r ^ None Observed g e e s FEMA Zone _ C Map Date 06/15/1981 All None Observed FEMA Ma No. 420363 0015 B Comments (apparent adverse easements, encroacfrneniS, special assessments, slide areas, illegal or legal nonconforming zoning use etc.): None observed or found Burin the , normal course of research of this GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Units Si le No. of Stories Two Foundation Stone Exterior W ll Vi I Slab N/A Area Sq. Ft. 1004 m/L Roof ^ Type (Det.lAtt.) Detached a s Rool Sudace Metal Crawl Space Partial Basement Partial % Finished 0 Ceiling Rafter Ceiling ^ W ll Design (Style) 2 Sto E i ti P Gutters 8 DYmspts. Aluminum Sump Pump No Walls Stone a s ^ Floor ^ x s ng/ roposed Existin A Y Window Type DbI.Hn . Dampness None Obsrvd Floor Dirt None ^ ge ( rs.) 139 yrs (m/L Eff ti A StorMScreens Existin Settlement None Obsrvd Outside Entry Yes Unknown ec ve ge (Yrs.) 20+ yrs. (m/L Manufactured House No Infestation Unknown See Text Addendum Pg. _ ROOMS Fo er Livin Basement Dinin Kitchen Den F amil Rrn. Rec. Rm. Bedrooms # Baths Laund Other Area S . Ft. Levell 1 1 1 1004 m/L - Level2 1 3 1.00 1004 Finished area ahoro cede contains: INTERIOR MaterialslCondition B Rooms HEATING 4 Bedr oom s 2. 00 Baths 2464 S uar Feet of Gross Livin Area _ Floors t/V1n:Poor ll W Type HWBB KITCHEN EOUIP Refrigerator ATTIC None ^ AMENITIES Fireplace(s) # 1 ~ CAA STORAGE: None ^ a s Plaster/Paneling:Falr Trim/Fi i h Fuel Oil Range/Oven X Stairs ® Patio None Obsrvd ^ Garage # of cars n s Wood:Falr Condition Avers Disposal Dro Stair ^ Deck N Bath Floor Vin I:Poor/Fair COOLING p one Obsrvd ^ Anached Bath Wainscot N/A Central N Dishwasher Scuttle ^ Porch Frt/Rear © Detached 2 Doors Wood:Aver o Other None FarVHood Floor ® Fence None Obsrvd ^ Built-In Microwave Heated ^ Pool N~ ^ Carport Condition Washer/Dryer Finished ^ Balcony © Driveway 4+ Additional features (special ener ffi i i Th gy e ent c t is rope i ems, etc.): ncludes 4 outb uild ln s to Include a ba rn store a shed and 2 additi onal ar s. Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Nome is in fair condition. Interior is in need of remodelin and renovati t on o ual Coda s market standards, Interior Is dated with old nelln most ex sed taster has vadcs most Fluorin should be re laced re lacement of kitchen and bathroom f t ix ures. No h siral functional or external obsolescence was observed, No needed s Adver e environmental conditions (such as bat not limited lo haza d s~ sA esen na s ~ , , r ous waste t xic subslance [c.) pr t n the impmvements, o the le, or i ihe immediate vicinity of the subject property. None observed..,Not uallRed or certified [o see or test See Text Add d ... en um Pa e. Fr eddie Mac Fnrm 7n a-oa ~~~~~ ~.ww~~~u ~y unneu aysrenis aonware t;omparry (B00) 969-8727 www.uniteiisystems.com -Page 7 Fannie Mae Form 1004 6-93 B-H Agency Appraisal Services File No 0200409 Valuafien SwrHnn l1NIFARM RFCtmICMTLe~ A1tDpDA1CA1 pCOAOT __ - _____ __.___ - - __ ESTIMATED SITE VALUE _ $ N/ ESTIMATED REPRODUCTION COST-NEW OE IMPROVEMENTS: nm Comments on Cost Approach (such as, source of cost estimate, site value, square Dwelling Sq. Ft. @ $ _ $ N/A foot calculation and, for HUD, VA and FmHA, the estimated remaining economic Sq. FL @ $ -_ lile of the property): Due to the a e of the sub ed Im rovements, the = Cost Approach to value was not used. The Cost Approach is onl Garage/Carport Sq @ $ - Ft considered for dwetlln s of'New Construction" or for an actual _ . . Total Estimated Cost-New _ $ N/A sisal a e of less than five ors. It is the o inlon of this a raiser ... ... - Less Physical Functional External that the "Cost roach" to value is inadequate and not a ro riate In an anal sIS Of a dwellin & Im vements of the actual sisal a e of Depreciation = $ this wb' and would not yield an accurate representation of Market Depreciated Value of Improvements .. ................... _ $ Value. It was therefore not considered. "As-is" Value of Site Improvements ... ....... . ........... _ $ INDICATED YALUE BY COST APPROACH ................ _ $ N/A ITEM SUBJECT COMPARABLE N . 1 COMPARABLE ND. 2 COMPARABLE N0.3 110 N. Middlesex Road 267 Longs Gap Road 234 East Old York Road 16 Locust Lane Address Carlisle, Pa 17013 _ Carlisle Pa. 17013 Carlisle Pa. 17015 Plainfield Pa. 17061 Proximit to Suh'ect _ 2.9 MI W 6.6 MI SSW 7.6 MI WSW Sales Price $ N/A $ 137000 _ $ 121,000 $ 129,900 Price/Gross Liv. Area $ $ 96.75 $ 78.78 $ 81.70 Data and/or Int./ExL Inspection CPML &CCCH CPML &CCCH CPML &CCCH Verification Sources CCCH Drive- Fxt. Ins 'on Drive-b Ext. Inspecton prive-b Fxt. Ins 'on VAWE ADJUSTMENTS DESCRIPTION DESCRIPTION + - Ad'ustment DESCRIPTION + - Ad'ustment DESCRIPTION + • Atl'ustment Sales or Financing Cash FHA FHA Concessions N/A N/A N/A Dale of Sale/Time 07/11/2008 06/30/2008 04 02 2008 Location Avera a Avera Avera a Avera e Leasehold/Fee Sim le Fee Simple Fee Simple Fee Sim le Fee Sim le Site 1.63 ayes m/L 1.09 acres m/L 2700 0.45 acres m L 5900 0.25 aces m L 6900 View Residential Residential Residential Residential Desi n and A eat 2 Sto 2 5 2 St _ 2 Sto Dualil of Construction Average to Period Built Average ro Period BuiR Average to Period Built Average to Period Built A e 139 rs m l 61 s. m L N/ 89 rs. m L N/ 136 rs. mJL N p Condition Fair Good -20000 Fair Avers a -10000 Above Grade Total Bdrms Baths Tolat Bdnns Baths Total Bdrms Baths Total Bdr B th _ Room Count 8 4 2.0 8 3 1.0 2500 7 3 1.0 2500 7 ms 3 a s 1 0 _ Gross Livin Area 2464 S . Fl. 1416 S . Ft. 15720 1536 S . Ft. 13920 . 1590 S . FI. 2500 13110 _ Hasemenl 8 Finished Partial Dirt Full Concrete -1500 Partial Concrete -500 Partial Conae[e -500 Rooms Below Grade None None Known None Known None Known = Functional Utilit T icel T lot T lot T iol - Hearin Conlin HWBB/NO Central Air FHA/NO Central Air HWBB/No Central Air FHA/NO Central Air Ener Efficient Items Wood Stove None Known 500 Wood Stove None Known 500 _ Gara a/Car ort 2 Car DeL C- rt 1 Car 4000 Off Street Parkin 50001 Car Det. i 1000! Porch, Patio, Deck, Porch/Porch/Balcony Pordt/Porch 1500 Porch/POrchJPatio N/ Porch/Porch 1500' Fire laces ,etc. 1 F(r face None Known 2800 None Known 280 None Known 28001 Fence, Pool, etc. 4 Outbuildln s 1 Outbuildin 15000 2 Outbulldln s 1000 1 Outbulldln 15000' Exterior Finish Vin I Stucco myl N/ Aluminum N/ Aluminum NIA' ' Nel. Ad . total + - $ 23220 ©_+ - $ 3962 + - $ 328101 Adjusted Sales Price G: 48.34% G: 33.57°,6 G: '41.42% 01 Com arable N; 16.95% $ $160,22D N: 32.74 $ ;160,62 N: 25.26% $ $162 7101 Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.)' No same or similar properties were found within the subject nei hfxxhood with reasonabl recent dates of sale; Therefore the 5eardt area had to be expanded outward within the same market area. The com table ro ies used In this anal sis are in my inlon the best available at the present and having been sold within the most recent months. All are relative in ~ oximity and very similar in nature, le, size and condition, and would have similar appeal to the bu in public.. Ad ustments have been made to com nsate for differences 1n the comparable properties where necessary Due to condition of the subject, a modest fi ure of;15 p/ sq ft was used to . . calculate above ground finished livin area in excess of 100 .ft. $5 000 /aQe or fraction thereof was used to olculate differences in situs . ITEM UBJE T COMPARABLE COMPARABLE N. 2 COMPARABLE N 3 Date, Price and Data 04/10/2008 01/24/2006 11/02/2005 12/06/2001 Source for prior sales CCCH CCCH CCCH CCCH within year of appraisal $1.00 ;128 000.00 $83,000.00 ;79 900 00 . Analysis of any current agreement of sale, option, or listing of the suhject property and analysis of any prior sales of subject and comparables within one ear of th l d f S y e a e o appraisal: ub ed is not, was not has not been listed for sale in the last 12 months. Subject was transferred from individual to Individual's trust d t on a e shown. Pro ies transferred on dates shown and have not been sold since. INDICATED YALUE BY SALES COMPARISON APPROACH , , , , , , , , , , , , , , , ,, , , , g 161,000 INDICATED YALUE BY INCOME APPROACH (II Applicable) Estimated Market Rent $ N/A M / 0, X GfOSS Renl Multiplier N/A = $ _ NJA The appraisal is made ®"as is° ^ Subject to the fepairS,alterations, inspecfidns, or conditions listed helow ^ subject to completion per plans and specifications C * ' . onditions of Appraisal: Date of ins on of the pro was 02/05/2009; Effective date of the A sisal, for ses of this report Is the date of the dxedent's passin which was December q 2006 Also see T M Add d . e en um a for additional comments on conditions of the a sisal . Final Reconciliation. See "Final Reconaliatlon" on Text Addendum e... 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 c rtili ti , e ra on, contingent and limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/Fannie Mae Form 10046 (Revi ed N/A s _ 1 (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY TllAi IS THE SUB E * ) J CT OF THIS REPORT, AS OF December 4, 2008 (YYHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF TNIS REPORT ] TO BE S #161,000.00 Appraiser(s) signature has been el - 9niolly affixed to this report w/digitally protected signature(s) for the purpose of electronic transmission. APPRAISER: ~/"~) L~ :. SUPERVISORY APPRAISERI (ONLY IF REQUIRED): / Si nature ; G~-~-- -- .__..- . Signature Name G. Arthur aman Pa. ert.# RL-139418 ^ Did ^ Did Not Name Inspect Property Dale R ort Sin 02/12/2009 Date Report Sinned C rtifi n # RL-139418 t t Pa Stale Certification # Slate Or Slate License # State Or State License # Freddie Mac Form 70 6-93 Farm reproduced M United Systems Software fmm~anv room oeo_a»~ ,,,,U., ,,..:,,......,._. _-_ State annrc rvue rbrm 1 W9 b-Y3 B-H Agency Appraisal Services File No. 0200409 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) hoth 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 approximate the market's reaction to the financing or concessions based on the appraisers 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 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 tlo 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 of the property. 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 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 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 processional designations, and references to any professional appraisal organizations 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 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. B-H Agency Appraisal Services File No. 0206409 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: vcvu~v~ 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 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 comparable property is inferior to, or less favorable than 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 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 subject only to the contingent and limiting conditions specified in this form. 4. 1 have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants 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 mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Processional 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 interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report. I further certity 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 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. Appraiser(s) signature has been electronically affixed to this report w/digitally protected sfgna[ure(s) for the purpose of electronic transmission. 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 for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 110 N. Middlesex Road, Carlisle, Pa 17013 APPRAISER: /~,; j F °:', Signature: ' ' ~-. Name: c. Arthur laman, Pa. Cert.# RL-139418 Date Signed: oz/a z/zoo9 State Certitication #: RL•139418 or State License #: State: Pa SUPERYISORY APPRAISER (only if required): Signature: Name: Date Signed: State Certification #: __ or State License #: State: Expiration Date of Certification or License: 06/3o/zoo9 Expiration Date of Certification or License: ^ Ditl ^ Did Not Inspect Property 0l2 B-H Agency Appraisal Services File No 0200409 TEXT ADDENDUM Borrower/Client Iu/A Address 110 N. Middlesex Road Unit No. N/A City Carlisle County Cumberland State Pa Zip Code 17013 Lender/Client Estate of Leon C. Morrison DEFINITIONS AND DATA SOURCES: EXPOSURE TIME: for the appraised property, the exposure time, based on the experiences of other similar properties in the same or similar neighborhoods Is estimated to be at three to six months. Exposure time is backward looking, where there is historical data available that provides a reasonable indication of the amount of time that would have been involved to market the subject property being analyzed, and obtain a sale as of the effective date of the appraisal. This data has been considered and used In this estimate. MARKET TIME: Marketing time on the other hand is forward looking, and is expressed as an estimate (projection) of the time that would be required to market the subject property and obtain a sale. In this context, ft should be noted that I have adhered to the definition of "Marketing Time" as put Forth by the "Appraisal Standards Board" and included in this report. This definition advises that marketing time does not begin until two things take place: (1) an offering of the property at a price that marketing participants find acceptable, and (2) an effective marketing plan Is implemented. SCOPE (EXTENT) OF APPRAISAL: In the preparation of this appraisal, I have made a physical inspection of the site and the improvements (if any). I have traveled the neighborhood and if necessary, made appropriate observations or notes. Data sources employed in addition were the zoning map or officer and ordinance for the municipality, the recorded deed or legal description, the tax assessment parcel records, local multi-list records, and the FEMA maps for the location, if required. Consideration has been given to the highest and best use of the property, and all three approaches to value, with application to those most relevant and applicable to the valuation of the subject. Data referring to Predominant Occupancy, Single Family Age and Pricing, Present Land Use and Changes are reflecting statistics for township/borough/general area, not for precise subject neighborhood. Other aspects of research and analyses relating to the Scope of Work performed as to the development of the assignment, and results and conclusions of this report, are found and disclosed in other sections throughout. CCCH & CPML are acronyms for the Cumberland County Court House and Central Penn Multi-List respectively. These were the primary sources used to secure property data. In addition, already verified information and data from my own files was used if needed, and where appropriate. All information developed was independently verified where public sources did not provide needed verification. I may have contacted listing or sale agents or other parties to the transactions, if I felt It necessary to verify data listed in CPML, as well as any suspected unordinary seller concessions. In the valuation process, all appropriate value approaches, or their exclusions are mentioned in appropriate sections of the report. Photos of comparable properties were downloaded from file data to depict condition at time of sale. CONDITIONS OF APPRAISAL (DISCLOSURE): The appraiser(s) is unable to know or verify, and in most instances unquallfled to determine or verify any Insulation or "R" factor; also the presence of urea formaldehyde foam Insulation (UFFI), any wood infestation or causes thereof, any lead based paint, any type of mold or mildew, any asbestos, the presence or amount of any radon, polyclorinated biphenyls (PCB's), chlorofluorcarbons (GEC's), leaking storage tanks (above or below ground), and soil contaminates or any type of contamination. The quality of any drinking water cannot be tested or verified by the appraiser(s). The appraiser(s) has no expertise and is unqualifed to make any assumptions, statements, or warranties as to the condition of any on or off site septic/sewage system if present. The appraiser(s) is not qualified to test for any contaminates in, on, or around the property, and can make no assumption as to whether or not they are present. It is to be noted however, that if any of the afore mentioned items are present, the market value could be adversely affected or violated. The appraiser(s) has made every effort to look, notice and document if observed, any apparent or unusual appearing circumstance in, on or around the property at the time of [he inspection process. The appraiser(s) has only considered the dwelling and items permanently attached as realty. Personal or other items not permanently attached such as refrigerators, washers/dryers, window air conditioners, free standing stoves, portable dishwashers, etc. were not given value consideration in the appraisal process. Also NO VALUE is given as to storage sheds, pools (above or in-ground), swing sets, normal fencing, or other Items or exterior structures of perceived value, unless specifically noted in the report. Utilities were on ~ time of inspection and all plumbing, heating, air conditioning (if present), mechanical and electrical systems are assumed to be functional to the best of the appraiser's knowledge, however no warranty or expertise is stated in this report. Line adjustments are not market extracted values due to lack and inconsistency of adequate market data, and therefore are subjective in nature. FINAL RECONCILIATION: This report is a Summary Appraisal Report. In the opinion of the appraiser(s), the "Sales Comparison Analysis" represents the best indication of market value for the subject, as defined in the "Statement of Limiting Conditions" contained in this report. This approach to value was given the strongest consideration in estimating the subject's market value as of the date of the appraisal. The "Income Approach to Value" was not considered, as the area is predominately owner occupied, therefore IimiUng the amount of available rental data that would be necessary to accurately complete that approach to value. PRIVACY NOTICE: Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1, 2001, appraisers and all providers of personal financial services are now required by federal law to inform their clients of policies with regard to the privacy of client nonpublic personal Information. In the course of research for this appraisal, we may collect what is known as "nonpublic personal Information." This information Is used [o facilitate the service that we provide, and may include Information provided to us by you, or indirectly provided to us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement to nonaffiliated third parties, except as necessary or as required by law. A necessary disclosure would be to an independent contractor, or In certain situations to third party consultants who would need to know certain Information to assist us in providing these appraisal services to you. Should a disclosure of this nature to any person or firm assisting in the appraisal process be necessary, such persons shall be advised that all Information is to be maintained in strict confidence within the firm. A disclosure required by law would be one that Is ordered by a court of competent and legal jurisdiction, with regard to a legal action to which you are a party. We will retain records relating to the professional services that we have provided for a reasonable time. In order to protect your nonpublic personal information from unauthorized access by others, we maintain physical, electronic and procedural safeguards that comply with our professional standards, to insure security and the integrity of your information. Form produced by United Systems Sohware Camparry (8001969-8127 www.unitedsystems.com 8-H Agency Appraisal Services File No 0200409 SUBJECT PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 110 N. Middlesex Road Unit N0. N/A City Carlisle County Cumberland $t2te ~ Zip Code 17013 Lender/Client Esta[e of Leon C Morrison Front Ylew Rear Vlew ~~ ` 'fit... ~r~~i ~` ...i,~ - _ _ _ -i. a _ E~ t 4 ~ ~ ~ ; ~ ~~ . s, ~. ,~+.,'-r=te .».~,ii r+~~~ ti ~; ..~ ~,. _ ~~~ ~~ ~_ ~ "` Street View Fam protlucea 6y United Systems Software Company (900) 969-8727 www.uniteasystems.cam B-H Agency Appraisal Services File Na 0200409 SUBJECT PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 110 N. Middlesex Road Unit N0. N/A City Carlisle County Cumberland State Pa Zip COde 17013 Lender/Client Estate of Leon C. Morrison Additional Garages Barn 1, t t~ 1 ~. ' ' y ~-~ sy .- . cae +Gaikt-~ t .. .w. ~,. ~e~CA y ~. Storage Building Form protlucetl by Unites Systems Software Comparry (800) 969-6727 www.unitetlsystettts.com B-H Agency Appraisal Services File No 0200409 SKETCH ewer/Client N/A _ _ CSS 110 N. Middlesex Road Unit No. N/A Carlisle _ County Cumberland St2te Pa Zip Code 17013 ler/Client Estate of Leon C. Morrison ta.a o c u; v; tt.a ta:a Second Ftoor o Finished o r°, Living Area ~°, i 39.a Saelch by nW~ iY°' Comments: 55.0' 0 B.0' ~A 0' ~ Cover d Por 1° ° ri First Floor Ito' Finished 1a.o' ~ _ Living Area o a n~ 59.0' - Covered Porch za.o' AREA CALCULATIONS SUMMARY Code Description Net Size Net Totals GLAl Fizat Floor 1460.0 1460.0 GI.A2 Second Floor 1004.0 1004.0 P/P Covered Porch 120.0 Covered Pozch 96.0 216.0 Net LIVABLE Area 2464 LIVING AREA BREAKDOWN Breakdown Subtotals First Floor 14.0 x 24.0 336.0 9.0 x 12.0 108.0 14.0 x 16.0 224.0 3.0 x 4.0 12.0 20.0 x 39.0 780.0 Second Floor 14.0 x 16.0 224.0 20.0 x 39.0 780.0 7ltems (Rounded) 2464 ----° -, -...,~~ ~,•~~~~~~ ~~~~..o~o wuryairy tauur non-oru www.unneasystems.COm Services File No. 0200409 COMPARABLE PHOTOGRAPH ADDENDUM Borrower/Client N/A Address 110 N. Middlesex Road Unft N0. N/A City Carlisle County Cumberland State Pa Zip Code 17013 Lender/Client Estate of Leon C. Morrison Sales Comparable 1 front View Address: 267 Longs Gap Road ProX, 10 SUhject: 2.9 MI W Sales Price: $ 137,000 Gross Living Area: 1416 Total Rooms: e Total Bedrooms: 3 Total Bathrooms: 1.00 Location: Average Sales Comparable 2 Front Ylew Address: 234 East Old York Road Prox. t0 SUI1jeCt: 6.6 MI SSW Sales Price: $ lzl,ooo Gross Living Area: 1536 Total Rooms: 7 Total Bedrooms: 3 Total Bathrooms: l.oo LOCat10n: Average Sales Comparable 3 Front View Address: 18 Locust Lane PrOX. t0 SUhjeCt: 7.6 MI WSW Sales Price: $ 129,900 Gross Living Area: 1590 Total Rooms: 7 Total Bedrooms: 3 Total Bathrooms: l.oo tACatlon: Average Fam produceo by United Systems Soltware Comparry (8IX1) 969-8727 www unitedsystems com B-N Agency Appraisal Services File No. 0200409 LOCATION MAP ver/Client N/A ;S 110 N. Middlesex Road Unit No. NJA _ Carlisle County Cumberland State Pa Zip Code 17013 r/Client Estate of Leon C. 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