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Home My WebLink About08-31-09 (3) 1505607121 REV-1500 EX 06 05 ( - ) PA Department of Revenue OFFICIAL USE ONLY Bureau of Individual Taxes INHERITANCE TAX RETURN PO BOX 280601 County Code Year File Number Harrisburg, PA 17128-0601 RESIDENT DECEDENT 2 1 0 8 0 9 4 0 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 1 6 8 2 4 2 8 8 9 0 9 0 8 2 0 0 8 1 0 1 0 1 9 2 8 Decedent's Last Name Suffix Decedent's First Name MI COL L E GE GRAC E M (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number FILL IN APPROPRIATE OVALS BELOW 0 1. Original Return ^ 4. Limited Estate ^X 6. Decedent Died Testate (Attach Copy of Will) ^ 9. Litigation Proceeds Received THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS ^ 2. Supplemental Return ^ ^ 4a. Future Interest Compromise (date of ^ death after 12-12-82) ^ 7. Decedent Maintained a Living Trust (Attach Copy of Trust) ^ 10. Spousal Poverty Credit (date of death ^ between 12-31-91 and 1-1-95) 3. Remainder Return (date of death prior to 12-13-82) 5. Federal Estate Tax Return Required 8. Total Number of Safe Deposit Boxes 11. Election to tax under Sec. 9113(A) (Attach Sch. O) CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0: Name Daytime Telephone Number R I CHARD K. H OS K I N S ON 7 1 7 2 6 3 8 5 3 5 Firm Name (If Applicable) HOSKI NS ON & WENGER First line of address 1 4 7 E WASHI N GT ON STREET Second line of address City or Post Office State C H A M B E R S B U R G P A ZIP Code ~ 1 7 2 0 1 REGISTER OF WILLS USE ~.C) ~~ _;_7 Z.3 C... . ] -~- n G7 ,~=?~m W -~-~:-: t _ ~~C ;C ~~~; D~.~€~ILED 'j- ~- n , Correspondent's a-mail address: rkhoskjnson(cr~hoskinson-wengerlaw.com 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 oreoarer has anv knowledge. ADDRESS Side 1 1505607121 1505607121 ~~ c, 147 East Washington Street Chambersburg PA 17201 PLEASE USE ORIGINAL FORM ONLY 1505607221 REV-1500 EX Decedent's Social Security Number Decedent's Name: GRACE M. COLLEGE 1 6 8 2 4 2 8 8 9 RECAPITULATION 1. Real estate (Schedule A) 1. 9 0 0 0 0, 0 0 ........................................ 2. Stocks and Bonds (Schedule B) .................................. 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3. 4. Mortgages & Notes Receivable (Schedule D) ................. .... ... 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) .... ... 5. 4 7 9 6 3. 8 2 6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ..... .. 6. 7 5 0 5 . 9 4 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) ^ Separate Billin Re uested 7 3 5 0 0 5 6 6 g q ..... .. . . 8. Total Gross Assets (total Lines 1-7) .................... ..... .. 8. 1 8 0 4 7 5, 4 2 9. Funeral Expenses & Administrative Costs (Schedule H) ......... ..... .. 9. 1 6 4 2 4 . 6 9 10. Debts of Decedent, Mortgage Liabilities, ii Liens (Schedule I) ..... ..... .. 10. 9 6 5 • 8 6 11. Total Deductions (total Lines 9 8 10) .................... ..... .. 11. 1 7 3 9 0. 5 5 12. Net Value of Estate (Line 8 minus Line 11) .................. ..... .. 12. 1 6 3 0 8 4 , 8 7 13. Charitable and Governmental BequestslSec 9113 Trusts for which an election to tax has not been made (Schedule J) ........... ..... .. 13. 0 • 0 0 14. Net Value Subject to Tax (Line 12 minus Line 13) ........... ..... .. 14. 1 6 3 0 8 4. 8 7 TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 16. Amount of Line 14 taxable at lineal rate X .045 1 6 3 0 8 4. 8 7 16 7 3 3 8. 8 2 17. Amount of Line 14 taxable at sibling rate X .12 0 0 0 17. 0. 0 0 18. Amount of Line 14 taxable at collateral rate X .15 0 0 0 1 g 0. 0 0 19. Tax Due .......................................... .... .. 19. 7 3 3 8. 8 2 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT ^ Side 2 1505607221 1505607221 J REV-1500 EX Page 3 Decedent's Complete Address: File Number 21 08 0940 DECEDENT'S NAME GRACE M. COLLEGE STREET ADDRESS 1 BURKE DRIVE CITY STATE ZIP SHIPPENSBURG PA 17257 Tax Payments and Credits: ~ • Tax Due (Page 2 Line 19) 2. CreditslPayments A. Spousal Poverty Credit B. Prior Payments 6,840.00 C. Discount 360.00 3. InteresUPenalty if applicable D. Interest E. Penalty (1) 7,338.82 Total Credits (A + B + C) (2) Total InteresUPenalty (D + E ) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval 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 the TAX DUE. A. Enter the interest on the tax due. 7,200.00 (3) 0.00 (4) 0.00 (5) 138.82 (5A) B. Enter the total of Line 5 +5A. This is the BALANCE DUE. (5B) 138.82 Make Check Payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred : .............................................. ^ ^X .................. b. retain the right to designate who shall use the property transferred or its income; ......................... ...... ...... ^ ^X c. retain a reversionary interest; or ............................................................................... ^ 0 ........... d. receive the promise for life of either payments, benefits or care? ......................................... ........ ...... ...... a 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? ................................................................................ ...... ^ ^X 3. Did decedent own an "intrust for" or payable upon death bank account or security at his or her death? ... ...... ^ ^X 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ............................................................................................ ...... ~ ^ 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 statute does 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)j• 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)]. Asibling 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 + (6-98) SCHEDULE A COMMONWEALTH OF PENNSYLVANIA REAL ESTATE INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER GRACE M. COLLEGE 21 08 0940 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 roe which is 'ointl -owned with ri ht of survivorshi must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. MANUFACTURED HOME ON LEASED LAND SITUATE IN SOUTHAMPTON TWP., CUMBERLAND COUNTY, PENNSYLVANIA Known and Numbered as 1 Burke Drive, Shippensburg, PA As per Appraisal by Mark E. Lehman, Lehman Appraisal Group (copy attached) 90,000.00 TOTAL (Also enter on line 1 Recapitulation) ~ $ 90 000 00 (If more space is needed, insert additional sheets of the same size) REV-1508 EX + (6-98) SCHEDULE E COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC. IN RES DENT DECEDENTRN PERSONAL PROPERTY c~ i r~ i c yr FILE NUMBER GRACE M. COLLEGE 21 08 0940 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. ALL JEWELRY (Bequest to Daughter) 6,364.00 As per Appraisal, Consisting of 2 Pages, By Belle Jewelers (copy attached) 2. PERSONAL PROPERTY ITEMS RETAINED (Bequest to Son and Daughter) 1,800.00 As per Appraisal, One Page Only, By Terry L. Sheffer (copy attached) 3. PERSONAL PROPERTY ITEM SOLD /SHED 800.00 (Bequest to Son and Daughter) 4. PERSONAL PROPERTY ITEM SOLD / 1987 CADILLAC AUTOMOBILE 1,000.00 (Bequest to Son and Daughter) 5. M & T BANK -MONEY MANAGEMENT ACCOUNT 16,498.92 Account Number: 98027409 6. ORRSTOWN BANK -CHECKING ACCOUNT 8,163.68 Account Number.' 628123 7. ORRSTOWN BANK -SAVINGS ACCOUNT 7,771.81 Account Number: 31651 8. THE VILLAGE OF LAUREL RUN 4,680.00 Refund 9. ADAMS ELECTRIC COOPERATIVE Distributive Share 10. STATE FARM INSURANCE Premium Refund 788.08 97.33 TOTAL (Also enter on line 5, Recapitulation) I $ 47 963 82 (If more space is needed, insert additional sheets of the same size) REV-1509 EX + (6-96) SCHEDULE F COMMONWEALTH OF PENNSYLVANIA JOINTLY-OWNED PROPERTY INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER GRACE M. COLLEGE 21 08 0940 If an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G. SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIONSHIP TO DECEDENT A. DONALD EUGENE SNYDER 630 CENTER ROAD SON NEWPORT, PA 17074 13 CATHY MARIE PARSON 1179 STONY POINT AVENUE (DAUGHTER SHIPPENSBURG, PA 17257 c JOINTLY-OWNED PROPERTY: ITEM NUMBER LETTER FOR JOINT TENANT DATE MADE JOINT DESCRIPTION OF PROPERTY INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE. DATE OF DEATH VALUE OF ASSET % OF DECD'S INTEREST DATE OF DEATH VALUE OF DECEDENT'S INTERESI 1. A. 12/1996 M & T BANK -CERTIFICATE OF DEPOSIT 5,001.43 50 2,500.72 Account Number: 31003914548101 2. A. 11/1999 F & M TRUST -CERTIFICATE OF DEPOSIT 2,504.50 50 1,252.25 Account Number.' 0142962486 3. B. 12/1996 M & T BANK -CERTIFICATE OF DEPOSIT 5,001.43 50 2,500.72 Account Number: 31003914548127 4. B. 11/1999 F & M TRUST -CERTIFICATE OF DEPOSIT 2,504.50 50 1,252.25 Account Number.' 0142962487 TOTAL (Also enter on line 6, Recapitulation) I $ 7 505 94 (If more space is needed, insert additional sheets of the same size) REV-1510 EX + (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY ESTATE OF FILE NUMBER GRACE M. COLLEGE 21 08 0940 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes. ITEM NUMBER DESCRIPTION OF PROPERTY INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND THE DATE OF TRANSFER. ATTACHACOPYOFTHEDEEDFORREALESTATE DATE OF DEATH VALUE OF ASSET %OFDECD'S INTEREST EXCLUSION (IF APPLICABLE) TAXABLE VALUE 1. AIG ANNUITY- Policy Number AN203377 Issued 02/21/2003 35,005.66 100.E 35,005.66 Payable: 50% To Donald Eugene Snyder, Son 50% To Cathy Marie Parson, Daughter TOTAL (Also enter on line 7 Recapitulation) $ 35 005.66 (If more space is needed, insert additional sheets of the same size) REV-1511 EX + (10-06) SCHEDULE H COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES & INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT ESTATE OF FILE NUMBER GRACE M. COLLEGE 21 08 0940 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1. FOGELSANGER-BRICKER FUNERAL HOME INC., SHIPPENSBURG, PA 9,688.21 2. RYAN MILLER -CHAPLAIN HONORARIUM AT FUNERAL 25.00 3. LINDA BEARD -ORGANIST HONORARIUM AT FUNERAL 25.00 4. CATHY PARSON -REIMBURSEMENT, GRAVE OPENING 525.00 B. ADMINISTRATIVE COSTS: Personal Representative's Commissions Name of Personal Representative (s) Street Address City Year(s) Commission Paid: State Zip Not Claimed 2, AttomeyFees :RICHARD K. HOSKINSON OF HOSKINSON & WENGER LAW OFFICES 5,190.00 3. Family Exemption: (If decedent's address is not the same as claimants, attach explanation) Claimant Street Address Cib State Zip Relationship of Claimant to Decedent 4• Probate Fees CUMBERLAND COUNTY REGISTER OF WILLS - JCP & AUTOMATION FEES $15 332.00 WILL $15.; SHORT CERTIFICATES $12.; LETTERS TESTAMENTARY $260.; FILING $30. 5 Accountants Fees 6. Tax Retum Preparers Fees 7. CUMBERLAND LAW JOURNAL -EXECUTORS' NOTICE 75.00 8. THE SENTINEL -EXECUTORS' NOTICE 214.48 9. LEHMAN APPRAISAL GROUP -APPRAISAL OF MANUFACTURED HOME 300.00 10. TERRY L. SHETTER -APPRAISAL OF PERSONAL PROPERTY RETAINED 50.00 TOTAL (Also enter on line 9, Recapitulation) I $ 16.424.69 (If more space is needed, insert additional sheets of the same size) REV-1512 EX + 02.03) SCHEDULE I COMMONWEALTH OF PENNSYLVANIA DEBTS OF DECEDENT, INHERITANCE TAX RETURN MORTGAGE LIABILITIES & LIENS RESIDENT DECEDENT s ESTATE OF FILE NUMBER GRACE M. COLLEGE 21 08 0940 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. CONTINUING CARE RX 204.50 Prescriptions 2. FAYETTEVILLE VOLUNTEER FIRE COMPANY 169.00 Transport to The Village of Laurel Run on 8/8/2008 3. HEALTH NETWORK LABS 5.26 Lab Work While in Nursing Home 4. STATE FARM INSURANCE 240.57 Premium Due 5. SHIPPENSBURG VILLAGE 277.00 Lot Rent for 7 Burke Drive 6. BOROUGH OF SHIPPENSBURG 37.06 Water Bill 7. PENELEC 32.47 Electric Bill TOTAL (Also enter on line 10, Recapitulation) I $ 965 86 (If more space is needed, insert additional sheets of the same size) REV-1513 EX + (g-00) SCHEDULE J COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER GRACE M. COLLEGE ~~ nQ nnnn RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1. DONALD EUGENE SNYDER (SON) Lineal 630 Center Road, Newport, PA 17074 Real Property 50%; Personal Property 50%; Annuity 50% and 1/3 Share of Residue Lineal 73,674.56 2. CATHY MARIE PARSON (DAUGHTER) Lineal 179 Stony Point Avenue, Shippensburg, PA 17257 Real Property 50%; All Jewelry; Personal Property 50% Annuity 50% and 1/3 Share of Residue Lineal 80,038.55 3. DAVID COLLEGE (STEPSON) Lineal 4,685.88 5508 Bates Avenue, Bethleham, PA 18017 50% of 1/3 Share of Residue Lineal 4. HOWARD M. COLLEGE (STEPSON) Lineal 4,685.88 3 Hawthorne Lane, Howell, NJ 07731 50% of 1/3 Share of Residue ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 T HROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE 1. "NONE" 0.00 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1. "NONE" 0.00 TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 0.00 tlr more space Is needed, Insert additional sheets of the same size) ,. -- LAST WILL AND TESTAMENT OF GRACE MARIE COLLEGE I, GRACE MARIE COLLEGE, a resident of the Commonwealth of Pennsylvania, make, publish and declare this to be my Last Will and Testament, revoking all wills and codicils at any time heretofore made by me. FIRST: I direct that the expenses of my last illness and funeral, the expenses of the administration of my estate, and all estate, inheritance and similar taxes payable with. respect to property included in my estate, whether or not passing under this will, and any interest or penalties thereon, shall be paid out of my residuary estate, without apportionment and with no right of reimbursement from any recipient of any such property. SECOND: I give all my real estate, and all rights that I have under any related insurance policies, to DONALD EUGENE SNYDER and CATHY MARIE PARSON in equal shares as tenants in common. If either of the aforesaid beneficiazies shall not survive me, the share of such beneficiary in my real estate shall be given to any then living issue of such beneficiary, per stirpes. THIRD: I give all of my jewelry to my daughter, CATHY MARIE PARSON. All other tangible personal property is given to my son, DONALD EUGENE SNYDER and my daughter CATHY MARIE PARSON. FOURTH: I give all the rest, residue and remainder of my property and estate, both real and personal, of whatever kind and wherever located, that I own or to which I shall be in any manner entitled at the time of my death (collectively referred to as my "residuary estate"), as follows: A. I give one third of my residuary estate as follows: (a) If DONALD EUGENE SNYDER survives me, to DONALD EUGENE SNYDER. (b) If DONALD EUGENE SNYDER does not survive me, the aforesaid one third of my residuary estate shall be paid and distributed to any then living issue of :DONALD EUGENE SNYDER, per stirpes. B. I give one third of my residuary estate as follows: (a) If CATHY MARIE PARSON survives me, to CATHY MARIE PARSON. (b) If CATHY MARII3 PARSON does not survive me, the aforesaid one third of my residuary estate shall be paid and distributed to any then living issue of CATHY MARIE PARSON, per stirpes. C. I give one third of my residuary estate as follows: (a) If DAVID COLLEGE and HOWARD M. COLLEGE or either of them shall survive me, to those of DAVID COLLEGE and HOWARD M. COLLEGE who survive mein equal shares. (b) If I am predeceased by DAVID COLLEGE and HOWARD M. COLLEGE, the aforesaid one third of my residuary estate shall be divided into such number of equal pacts as there shall be beneficiaries among said group who are survived by then living children or issue. I give one (1) such equal part to the children and issue of each such beneficiary, per stirpes. ~yA ` ~. ~ G~'~_ FIFTH: If any property of my estate vests in absolute ownership in a minor or incompetent, my Executors, at any time and without court authorization, may: distribute the whole or any part of such property to the beneficiary; or use the whole or any part for the health, education, maintenance and support of the beneficiary; or distribute the whole or any part to a guardian, committee or other legal represent~itive of the beneficiary, or to a custodian for the beneficiary under any gifts to minors or transfers to minors act, or to the person or persons with whom the beneficiary resides. Evidence of any such distribution or the receipt therefor executed by the person to whom the distribution is made shall be a full discharge of my Executors from any liability with respect thereto, even though my Executors may be such person. If such beneficiary is a minor, my Executors may defer the distribution of the whole or any part of such property until the beneficiary attains the age of eighteen (18) years, and may hold the same as a separate fund for the beneficiary with all of the powers described in Article SEVENTH hereof. If the beneficiary dies before attaining said age, any balance shall be paid and distributed to the estate of the beneficiary. SIXTH: I appoint my son DONALD EUGENE SNYDER and my daughter CATHY MARIE PARSON as Co-Executors of this will. If either of my Executors shall fail to qualify for any reason as Executor or, having qualified shall die, resign or cease to act for any reason as Executor, the other Executor may act alone as my Executor. I direct that no Executor shall be required to file or furnish any bond, surety or other security in any jurisdiction. SEVENTH: I grant to my Executors all powers conferred on executors under the Pennsylvania Probate, Estates and Fiduciaries Code, as amended, or any successor thereto, attd all powers conferred upon executors wherever my Executors may act. I also grant to my Executors power to retain, sell at public or private sale, exchange, grant options on, invest and reinvest, and otherwise deal with any kind of property, real or personal, for cash or on credit; to hold, manage, insure, repair, improve, demolish, divide, and otherwise deal with and dispose of any property; to borrow money and mortgage, encumber or pledge any property to secure loans; to divide and distribute property in cash or in kind; to exercise all powers of an absolute owner of property; to compromise and release claims with or without consideration; and to employ attorneys, accountants and other persons for services or advice. The term "Executors" wherever used herein shall mean the executors, executor, executrix or administrator in office from time to time. EIGHTH: I direct that for purposes of this will a beneficiary shall be deemed to predecease me unless such beneficiary survives me by more than thirty days. NINTH: Except as otherwise provided in this will, I have intentionally failed to provide for any other relatives or other persons, whether claiming to be an heir of mine or not. Insofar as I have failed to provide in the will for any of my issue now living or later born or adopted, such failure is intentional and not occasioned by accident or mistake. If any person named as a beneficiary under this will institutes a will contest, acts as a party to a will contest initiated by someone else, or aids and abets anyone instituting a will contest, I direct that any bequest, devise, or share of my residuary estate that would otherwise go to that person shall l~ipse, as if he had predeceased me. TENTH: I may leave a letter of intent with the executed copy of this will for the purpose of giving giiidanee t0 my F.xer~iitnr cQn~erning the disribLtiOn Or Sale of remain items Of ?my property. I request, but d0 not require that my Executor honor my wishes therein expressed. This document was prepared under the authority of 10 U.S.C. § 1044 and implementing military regulations and instructions, by Captain Robert E. Samuelsen II, who is licensed to practice law in the State of Minnesota. IN WITNESS WHEREOF, I, GRACE MARIE C LLEGE, sign my name and publish and declare this instrument as my last will and testament this ~ day of , 2002. I also have affixed my signature on the bottom of each of the preceding pages hereof. f GRACE MARIE COLLEGE The foregoing instrument was signed, published and declared by CTRACE MARIE COLLEGE, the above-named Testatrix, to be her last will and testament in our presence, all being present at the same time, and we, at her request and in her presence and in the presence of each other, have subscribed our names as witnesses on the dat above written. ~~~~ having an address at ~~- , ~° a~3 ~q+~. having an address at `~, ~~ ~ 2003 3 ACKNOWLEDGMENT AND AFFIDAVIT COMMONWEALTH OF PENNSYLVANIA, COUNTY O (F~CUMBERLAND, ss. _ We, GRACE MARIE COLLEGE and _ _ "l_~_T_~_l~_ _ _C!_~'S'~_c~_ _ _ - - ~-~ ~~ ~ - Cs-cz~~ ~~ _ _ _ _ _ _, the Testatrix and the witnesses respectively, whose names are signed to the attached or foregoing instrument being first duly sworn, do hereby declare to the undersigned authority that the Testatrix, GRACE MARIE COLLEGE, signed and executed said instrument as her last will and testament in the presence and hearing of the witnesses, and that she had signed willingly, and that she executed it as tier free and voluntary act and deed for the purposes therein expressed, and that each of the witnesses at the request of the Testatrix, in the presence and hearing of the Testatrix and each other, signed the will as witness, and that to the best of his or her knowledge the Testatrix was at the time at least f;ighteen years of age, of sound mind and under no constraint, duress, fraud or undue influence. ~~-c,4-c..e~ ~j awe, ~~C/ GRACE MARIE COLLEGE atrix !( -v Witness - - - - ~-~' ''z ~~ ~]P -. -- -- - - Witness Subscribed, sworn to and acknowledged before me by the said GRAC$ MARI COLLEGE, Testatrix, and subscribed and sworn to before me by the above-named witnesses, this ~ day of 2002. Not• y Public My cornrnission ex fires on Notarial Seal Betty S. Kistler, Notary Public Carlisle Boro, Cumberland County My Commission Expires May IA~, 2005 Member, Pennsylvania Associatlonaf Notatfas roervo. ~ APPRAISAL OF LOCATED AT: 1 Burke Drive Shippensburg, Pa 17257 FOR: Grace M College; Estate 1 Burke Drive Shippensburg, PA 17257 BORROWER: n/a AS OF: June 15, 2009 BY: Mark E Lehman rile No. 7 CUfKe UfIVe Hoskinson & Wenger Attorneys Grace M College; Estate 1 Burke Drive Shippensburg, PA 17257 File Number: 1 Burke Drive In accordance with your request, I have appraised the real property at: 1 Burke Drive Shippensburg, Pa 17257 The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved. In my opinion, the market value of the property as of June 15, 2009 is: $90,000 Ninety Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, limiting conditions and appropriate certifications. Mar~h an~ SUMMARY OF SALIENT FEATURES Case No. Subject Address •' ~ • 1 Burke Drive Legal Description Cumberland County deed book Vol. Page City Shippensburg County Franklin State Pa Zip Code 17257 Census Tract 42-055-0132 Map Reference 39-13-0102-002 Sales Price $ Date of Sale Borrower /Client n/a Lender Grace M College Estate Size (Square Feet) ~ • ~ •~• 1540.000000 Price per Square FI $ 0 Location suburban Age Condition good Total Rooms 6 Bedrooms 2 Baths 2 ~. .~ /J Appraiser /l Mark E eh an Supervisory Appraiser Date of Appraised Value June 15,2009 Final Estimate of Value $ 90000 Uniform Residential Appraisal Report File No 1 Burke Drive The purpose of this summar a praisal re ort is to provide the lender/client with an accurate, and adequate) supported, opinion of the market value of the subject proper[ . Pro a Address 1 Burke Drive cit Shi ensbur state Pa zi code 17257 Borrower n/a owner of Public Record Grace M Colle e' Estate county Franklin Le al Descri uon Cumberland Coun deed book Vol. Pa e Assessors Parcel # 39-13-0102-002-TR10314 Tax Year 2009 R.E:. Taxes $ 1 130.88 Nei hborhood Name SOUtham ton Tw Ma Reference 39-13-0102-002 Census Tract 42-055-0132 Occu an[ Owner Tenant X Vacant S ecial Assessments S none PUD HOA $ nUne er ear er month ~~ Pro ert Ri hts A raised Fee Sim le Leasehold X Other describe Assi nment T e Purchase Transaction Refinance Transaction X Other describe Estate A raisal Lender/Client Grace M Colle e• Estate Address 1 Burke Drive Shi ensbur PA 17257 Is the sub'ect ro curren[I offered for sale or has it been offered for sale in the twelve months dor to the effective date of this a raial? Yes No Report data source(s) used, orredng price(s), and dace(s). mis data/public records SUbiect is currently on the active MLS market offered at $114 000. Sub'ect has been on the market for 405da s I did did no[ analyze the contract for salrt for the subject purchase Vansaction. Explain [he results of the analysis of the conVact for sale w why the analysis was not performed. Contact Price S Date of Contract Is the ro ert seller the owner of ublic record? Yes No Data Source s Is [here any financial assistance (loan charges, sale concessions, gift or downpaymen[ assistance, etc.) to he paid by any party on behalf of the bonower? Yes No • If Yes, report the total dollar amount and describe the items to be paid. $ Note: Race and [he racial composition of the neinhhnrhnnd are nnr annraical rarmrc -..._-~- --~--~ Location Urban X Suburban Rural ~. HOUStn i~rnr; Pro ert Values Increasin X Stable Declinin ,.cu ;~. ~~~,,: r~. .-r lahdU_~. PRICE AGE One-Unit ~ 40 % Built-U Over 75% X 25-75% Under 25% Demand/Su I Shorts a In Balance X Over Su I $ 000) s) 2-4 Unit - % ~ Growth Ra id Stable X Slow MarkeGn Time Under 3 mths X 3-6 mths Over 6 mths 70 Low 0-1 Multi-Famil % Neighborhood Boundaries To include Cumberland & Franklin Coun .Area iS mixed 500 Hi n 50+ Commercial 5 % „residential/commercial/a ricultural. Sub'ect conforms. 180 Pred. 30 otner vacant 55 % Neighborhood Description No adverse conditions were noted in the subject's market area affecting the marketabilit of the sub'ect roe The sub~ect has avers a market a eat and is located within reasonable access to services. Sub'ect conforms to other homes in the area. Market condlGons (incuding support ror ine above conausions) Market condiions are slow with supply exceeding demand Growth is slow . Mort a e rates va from 5%-7% fixed and variable. No other adverse market conditions were noted affectin the future marketabili of the sub ect. Dimensions n/a Area n/a Sha a n/a view n/a S cific Zonin Classification none Zonin Descri [ion Zonin Com liance Le al Le al Nonconformin Grandfathered Use X No Zonin Ille al describe Is the highest and best use of [he subject property as improved (or as proposed per plans and specifications) [he present use? Yes No If No, describe. Utilities Public Other (describe) Public Other (describe) Off-site Im rovernents-T a Public Private Electrici[ X Water X SVee[ a5 halt X Gas Sanita Sewer X Alle FEMA S ecial Flood Hazard Area Yes X No FEMA Flood Zone C FEMA Ma # 42165700108 FEMA Ma Date 5/15!1986 Are the utilities and off-site im ovements t ical for the market area? X Yes No If No, describe. Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe. _r~_IIIIU~~:DFSG.~r1!r', IOUNDATICN. E n ~d~!? f hlt::~'I ..nd~6dm. ~ JNTFRIOR' ,nl~rlatslcondition Units X One One with Accesso Unit Concrete Slab X Crawl s ace Foundation Walls COn IefS Floors WW/Vln/ OOd # of Stories 1 Full Basement Partial Basement Exterior Walls Vln I/ OOd Walls dw/ anel/ OOd T e X Det. Att. 5-Det./End Unil Basement Area 0 5 . ft. Roof Surface as halt shin le/ d IYiMFinish ranch/ OOd X Existin Pro osed Under Const. Basemen[ Finish % cutters & Downs outs aluminum/ OOd Bath Floor Vln I/ OOd Desi n st le ranch• manufactured Outside EnV /Exit sum Pum window T e dbl hurt /pod Bath Wainscot fiber lass/ pod Year Built 2002 Evidence of Infestation Storm Sash/Insulated therm0/ OOd Czar Stora a None Effective A e rs 5 Attic None Dam ness Heatin X FWA Settlement HWBB Radian[ Screens eS/ OOd Amenities WoodStove s # X Drivewa # of Cars 2 Drivewa Surface aS halt Dro Stair Stairs Other Fuel e12CtrIC Fire laces # Fence Gara e # of Cars Floor X Scuttle Coolin X Central Air Conditionin X PatiolDeck Slde X Porch front Car ort # of Cars Finished Heated Individual Other Pool Other Att. Det. Built-in A liances X Refri erator X Ran a/Oven X Dishwasher Dis osal X Microwave X WasherlD er Other describe Finished area above rade contains: 6 Rooms 2 Bedrooms 2 Bath s 1 540 S uare 1=ee[ of Gross Livin Area Above Grade Additional features (special energy efficient items, etc.). heat pump • Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). Ph SICaI de reciation consists of normal wear & tear. Functional ade ua of the roe is in line with other ro erties in the eneral vicini . No external de reciation was noted. Sub ect is in pod condition Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or sVUCtural integrity of the property? Yes X No I(Yes, describe. Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? X Yes No If No, describe. vraeieraa~FOrm~omarmzoos o..,._~..-,_-.,.,--_..---._...---- Page 1 d 6 -. ......._....-_..-... ra~..e mae roan iwa marn zws 10D1 0i 063906 Uniform Residential Appraisal Report FileNo. 1 Burke Drive There are com arable ro erties curren[I offered iw sale in the subject nei hborhood ran in in rice from E to E There are com arable sales in the subject nei hborhood within the ast hvelve months ran in in sale dce from E tc E FEATURE SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.3 1 Burke Drive 5 Lantern Lane Address Shi ensbura. PA Shi ensbur PA 10 Lantem Lane Shi ensbur PA 4 Lantern Lane Sttippensburq, PA Proximit to Sub~ect - _ n.51 miles S i- o_48 milt:S S 0. 51 miles S Sale Price 9 c 12? ?00 - ! ! S 127 000 _ _ i x 7R 900 Sak PdcetGross Liv. Area } ~, n. E 75.57 su. f _ t. ___ . E 69.02 s . R '. E 44 13 so h ~ Data Sources _ mIS/ ublic record ~ mis/ ublic record . . . _ mis/ ublic record Verification Sources _ a eat a eat a eat VALUE ADJUSTMENTS __ :i '.-rli".r' I ~ DESCRIPTION .t)sAd'usrment DESCRIPTION .(-ins ustmern DESCRIPTION .(-)snd~uwnent Sale or Financing Conv Sale concessions '_ none Conv Sale none Conv Sale none Date of SalelTime 8/19/2008 ~ 5/20/2005 5/30/2003 +20,000 Location suburban suburb/su -20 000 suburb/su -20 000 suburb/su -20 000 LeaseholdfFee Sim le round rent round rent round rent round rent site round rent round rent round rent round rent view ical~avera a avers e' ical averse ical avers e• ical Desi n S[ le ranch' dbl wid ranch' dbl wid ranch' dbl wid ranch dbl wid Quali of Consbuction vin Ilave vin 1lave vin Ilave vin Ilave Actual A e 7+/- Years 9 ears 12 ears 7 ears Condition OOd OOd OOd OOd Above Grade Tmal Bdrtns Baths Tmzl Bdrms Baths Total Bdrms. BaUts Taal Bdrms Baths Room Count 6 2 2 6 3 2 6 3 2 6 3 2 Gross Ovi Area30.00 1 540 s . ft. 1 719 s . ft -5 370 1 840 s . ft. -9 000 1 788 s ft -7 440 Basement & Finished Rooms Below Grade crawlspace crawlspace crawlspace crawlspace Functional Utilit ode uate ode uate ode uate ode uate - Hea[in coolie central h 8 a/c central h 8 a/c central h & a/c central h & a/c ~ Ener Efficient Items heat um stm win/drs stm win/drs stm win/drs Gars elca ort 1 car att 1 car att none none ~ PorcFJPatio/Deck deck deck deck deck Kitchen custom kitchen custom kitchen custom kitchen custom kitchen Net Ad'ustment Total ~_ -- . ___ X - E 25 370 . X - E 29 000 X - E 7 440 Adjusted Sale Price I, ;Net Adj. -19.5% - of Comarables Gross Ad. 19.5% E 104530 Ne[Adj. -22.8% GrossAd'. 22.8% E 98000 Net Adj. -9.4% Gross Ad. 60.1% E 71460 I X did did not research the sale or Vansfer history of the subject property and comparable sales. If not explain M research did X did no[ reveal an riot sales or transfers of the sub'ec[ ro e for the three ears for to the effective date of this a rais~tl. Data sources mis data / ublic record M research did X did not reveal an riot sales or transfers of the com arable sales for the ear riot [o the date of sale of [he com arable sale. Data source(s) mis data / ublic record Re ort the results of the research and anal sis of the riot sale or transfer histo o(the sub'ec[ ro ert and com arable sales re ort additional for sales on a e 3). ITEM SIJBJECT COMPARABLE SALE N0. 1 COMPARABLE SALE N0.2 COMPARABLE SALE N0. 3 Date of Prior Sale/Transler none none none none Price of Prior SalelTransfer Data Source s Effective Date of Data Source s Analysis of prior sale or transfer history of the subject property and compamble sales no prior sales history noted for the subject or com arable sales within the ast three ears summary of sales comparison approach. Comparable sales are similar to the subject being manufactured homes on ground rent sites situated in marketed 55+ communities.. All sales are located in a com etin develo meat of similar s le homes su erior in location and ammenties. All sales were considered in the final o inion of value. Indicated Value b Sales Com orison A roach $ 90 000 Indicated Value b : Sales Com orison A roach S 9O OOO Cost A roach (if develo ed) S f1/a Income A roach (if develo ed) S nla The sales com orison a roach is the most reliable indicator to value. The income a roach has not been used as homes in the sub'ect are are owner occu led. ' This appraisal is made X "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, ^ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or ^ subject to the following required • inspection based on the exbaordinary assumption that the condition or deficiency does not require alteration or repair: • Based on a complete visual inspection of [he interior and exterior areas of the subject property, defined scope of work, statement of a~:sumptions antl limiting conditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is E 90,000 as of June 15 2009 , which is [he date of ins ection and the effective date of [his a raisal. Freddie Mac Fnim Tn Mx~n 9ms ..~..~-- y y~~Page2of 6.,~.=~~,.n.w.~,.meucwn Fame Mae Fonn ilxk March ZBpS lops p5 pfi1905 LEHMAN APPRAISAL GROUP Uniform Residential Appraisal Report FileNO. 1 BurkeDrive ~lanncanon or Intenaeo Use antl Intended User: The Intended User of this a raisal re ort is the Lender/Client clients attorne and officers of the court. The Intended Use is to evaluate the roe that is the sub'ect of this a raisal for an estate settlement sub'ect to the stated Sco a of Work ur ose of the a raisal, re ortin re uirements of this a raisal re ort form and Definition of Market Value. No additional Intended Users are identified b the a raiser. " ~ ~1 t~'~'! !.:ACH TG ,U_i= ,..,,-i i _.iuliud ~. ~ 1~~ ~r c Lt..~.r Provide ode uate information for [he lender/client to re lica[e the below cost ti ures and calculations. _.... Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value) ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE .............. ........ .......... .. .... .. = S Source of cost data Dwellin 1 540 S . Ft. @ S ... ......... = S p Quali[ ratio from cost service Effective date of cost data S . Ft. @ S = g - Comments on Cost A roach ross livin area calculations, de reciation, etc. ~ Gara a/Car ort 0 S . Ft. @ S . .. ........ _ $ p Total Estimate of Cos[-New .... ........ = E 0 Less Ph ical Functional External De reciation = E 0 De reciated Cost of lm rovements ........................ ........ = S p "As-is" Value of Site Im ovements ........................ ........ = S Estimated Remainin Economic Life (HUD and VA onlvl 45 Va?r~ INDICATED VALUE BY COST APPROACH = E 0 __.. __ - NCpMEAPPROAGN?{ "L.!~ it r-~I Fa"r ~=Gro~.~~~ ~ Estimated Monthl Market Rent S X Gross Rent Multi tier = E Indicated Value b Income A roach Summary of Income Approach (including support for market rent and GRM) .. ._. -____-.- _F'ROJEC7 INFORM i iJfa F0- f~i.U_ ld;~.I .'. :, Is the develo erlbuilder in conVOl of the Homeowners' Association HOA ? Yes No Unit e s Detached Attached Provide the (ollowin information for PUDs ONLY if the develo er/builder is in control of [he HOA and the sub'ect ro ert is an attached dwellin unit. Le aI name of o ect ~ Total number of hoses Total number of units Total number of units sold Total number of units rented Total number of units for sale Data source s Was the ro'ect created b the conversion of an existin buildin s into a PUD? Yes No If Yes, date of conversion. Does the ro'ecl contain an multi-dwellin units? Yes No Data source s Are [he units, common elements, and recreation (acilities complete? Yes No If No, describe the status of completion. Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options. Describe common elements and recreational facilities. Freddie Mac Fam ]0 Mar h JMS .a mmxae. eoo t9e9]1] wxw.anxpb<am Fanrie Mae Form 1004 March 2005 Page 3 of fi laa4_a5 afil9a6 virirviiii r~CJluClllldl /1~.1~.JIdISdI K@~OfL FiieNO. 1 BurkeDrive This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonaGle 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 appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting 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, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader 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 this appraisal report whether any portion of 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, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, 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 research involved in pertorming this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. 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, this appraisal report must not be considered as an environmental assessment of the property. 6. 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 the completion, repairs, or alterations of the subject property will be pertormed in a professional manner. ~iniviiiircC~iuCiiualH'.Jj.11CtISdIY(efJUrL riierro.lBurkeDrive APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of 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 at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land safe with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. 1 am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into wnsideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and ~~onclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. 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 opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, 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 or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the pertormance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to pertorm the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. Protlucetl wing ACI Uniform Residential Appraisal Report FiieNo. 1 Burke Drive 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, dr other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability andlor criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report iseither asub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualiried to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies 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 at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLX IF REQUIRED) Signature Name Mark E Le a Company Name eh an ppraisal Group Company Address 3522 Scotland Road Chambersburg PA 17201 Telephone Number 7172673001 Email Address Date of Signature and Report June 15,2009 Effective Date of Appraisal June 15,2009 State Certification # RL-001652-L or State License # or Other (describe) State PA State # Expiration Date of Certification or License 6/30/2011 ADDRESS OF PROPERTY APPRAISED 1 Burke Drive Shippensburq Pa 17257 APPRAISED VALUE OF SUBJECT PROPERTY $ 90,000 LENDERlCLIENT Name Company Name Grace M College Estate Company Address 1 Burke Drive Shippensburq PA 17257 Email Address Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY ^ Did not inspect subject property ^ Did inspect exterior of subject property from street Date of Inspection ^ Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES ^ Did not inspect exterior of comparable sales from street ^ Did inspect exterior of comparable sales from street Date of Inspection " 1006_05 06]906 LEHMAN APPRAISAL GROUP CI IR IFr~T DDnDr orv nunrr, ~ Borrower: n/a v/~ uV • File No.: 1 Burke Drive Property Address: l Burke Drive Case No CItY• Shlppensburg State Pa Zip: 17257 Lender. Grace M Colle e, Estate j~ ~%rt 'Pt*~^ ~afxr-~ - ~ '~f ~i ~~, ti i ~ ~ ~1~, A Yj ~ ~'~{ 4t i f 3F ''~' ~~ f'~ ~,~ r«.djr,~ { ~ ~ x1t ~ ~ ~ ~;_ 4F 'i: tcF ~~ ~~ ~t~`aEC v+. r 5r:i~t ~~'F'.` - :F t,`r~, ; ~, X3`1 t. :T. '~~ 3 ?;, ..4 i ~~ ~~w ~' -~k~ ,• ~~ ~~ ~ ~. ~ ~f F~e' FRONT VIEW OF SUBJECT PROPERTY Appraised Date: June 15, 2009 Appraised Value: $ 90,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: n/a File No • 1 Burke Drive Property Address:1 Burke Drive Case No City: Shippensburg State• Pa Zip: 17257 Lender: Grace M Colle e; Estate COMPARABLE SALE #1 5 Lantern Lane Shippensbury, PA Sale Date: b/19/2008 Sale Price: $ •129,900 COMPARABLE SALE #2 10 Lantern Lane Shippensburg, PA Sale Date: 5/20/2005 Sale Price: $ 127,000 COMPARABLE SALE #3 4 Lantern Lane Shippensburg, PA Sale Date: 5/30r2003 Sale Price: $ 78,900 FLOORPLAN LOCATION MAP Borrower: n/a File No • 1 Burke Drive Property Address: l Burke Drive Case No City: Shippensburg _ State• Pa Zip: 17257 ern<~` ~ti Subject ~'~t 1 Burke Drive ~Ta Shippensburg, PA 17257-8128 ,Gt ~~ e; ~~~ ~" 6~, u0, Jt 0 ~" .{ ~~y~~. L x .'F~~' if f ~~~~s''r~ 34 ':: ~ ~ uY t~~ ~0 ~~,-~; 'T "A ~~%~'< ~`~ ~'j,f,• ~: 3 1 y • ~a~:Wi~~~~ ~ l y K. ~' 4~ ~ ~ F i ~';iR~IX~ e ~,1. ~~ ~~ e . ~ n . ~ ~... 3M.rt-si~ o. . -._ .... ~ F n. ~~~ ~,~ ~ ^ ~~ ~' P ~ :.T ~ g>."" {V rr ~ R: ~; ~ ~ ~ ~ .~ F444LL.G-G . ~, ~~ + r ra ~'' ~ ~r ~ ., ~,.r rr d.~ ~ ~., ~ ~, a , ~ 6 r v . 7 "~ .~ _ .~ ~ ~~.. ~~ .s' ~• t~ ~ °.~- .^ ~r .. w; -~ . ~. ~. ~~ ~~". ~ ~ _. !~. ., ~ E' :~ J a3a ti,. ~ ~< ~; .., ~ '~ ~ ~~ _ _ c^ P:. :a -~- ~. :~ •N .~ .: ~- tt r,~ ~„ ~v J L s.. ~ r~ [ r° ~' ~ ~ ~• Fi W ~~ ~ r .1` J ~• P1, F' k# d ~•~ " ~ . .d €,..J ."w . .~ ri ,~y ~, 1 . ~ ~ ~ . t.. ~ E~ ~ -i, -"-e1.~ ~ q t R; , 1": ~ ~ ~ 8~ >~ ~~ .~,; ~, r~ ~ ~ ~ ~ '' G ~ ~ Syr .~ s !~~ y"dt~r`.X" ;ifs'"';': ~ E'a'~°°~~s.t:~.,i :,:""~` ~"!'x t:~°L~°u~ea~.~"~'~"". s~`~ k'. °.ti.'. ~ , A RoEUCCI using ADI soM~are, 800.13.8121 svmr.ttMeb.com Fam EDOC 7u1,, ~, 2009d~10;43AMf~~~~'RE/MNXf~.<:.:~~'<<~,::~~~~ °~~.;. ~~~~;~,,,. s,. ..,,::-•,~,,,.;, ,;,., .,,y,,. ,..~^Kc__%1n'~''.: z. •.+r,~":...a~fi~r`~°~.._:~`:,-..`~~.~~~~~%~~§°)~~,:._`'r~''t~z~4:,'~dt~~°'r~`~~w'No. 1240~.'4~ia!:;P, QIAMONDS ~ ~~~ ~ _ WATCHES ~ ~~ ~~ JEWELRY ESTATES BELLE dE1NELERS APPRAISED ,,1t~r~,~ ~''~~~A~(~. _ CHAMBERSB RG. MALL ' GHAMBERSBURG, PA 17241 70 WHC1M IT MAY CONCERN: DATE NbVE'-IYtbPY _..6 , .-._1._9.96 This IS to Certify TNAT WE AHE ENCiAC`rED IN THE JEWELRY BUSINESS, Appraising Diamonds, Watches, Jewelry dnd Precious Stones of all descriptions and have 6eerti xo engaged , in said 'business for many years, We herewith certify that we have this day carefully examined the , foiiovving fisted and described articles the prnpcr~y of ._ M Gxace College ADDRESS 32$ McCulloch Rd.r Shippensbur~ PA 1°7257 We estimate the value as listed for Insurance or other purpose at the currt?nt retail v_aluK, excluding Federal artd other taxes. in making .this Appraisal, 'wr•. der NOT agree to Purchase or replace the ~rrt,icles. ~,~~ ~ '' Ladies,DZamond.e;ngagement ring containing o.ne :. -. ~ ~ ~ ~ , .40 ct.. brillia:ri:.t-cut 17iamand having a clarity of ;~~ , ~ , 12 due;` to...a ~a.rg:'e chap.. in;. ,tY~' girdle: This stone ,:°, ry~J~ ~ is'flan3ce~i by two ~:.0,~ 'ct.;; stele Diamonds on: each szde ' . ~ and is set, in 14K •whit~ gold. 495 00 ~ . ; ,.~ ~ ~Y D a~nin sezt2n ~.'Qi.z~glo_~u:t :` ~n ~ ~ a . • .,•. ~. h, . ound A~amondo each we g g..02 ct set iri a . , I '~K' ,~.. ;, ., ,. . , ,:. ; . whits ~. g.o.l d -'f 1 sht a i l . , '.: . .'mounting ..:: ' , .. : ,. . .. ... 5p:O0 ~~i~a Ladi~-s open fiia x'ee slr..'le Dzamoxi.d r.'in c`o~tainin • ~ ,_ ~. ~twa ~ ; 03 ct . ~a . b~r.iil iant=gut Diamonds an'd ~ one _ ' ' . •05 ct: Dzamand :in the cs~nter•., ,The ring is done ~ n ' -_ ~~ ,..: , , >~ ..14K' ye~.lo~r.. gold' hey w~a;ve. - - Yy: ~ ... :. :: .: .. 900:00. . >; ., ~; ` ~ rj'hree pi:e~ce thatched sot of .genuine, b~.ack onyx cl ip~ ~, . ~: on earrings and`: brooch..of. filagree :.design clone in . ~~; 12K go.1.d filled. 250.00 r' Ladies Diamond earrings containing,. two bri.llzant-cut' ., y:; Diamonds each weighing .25 ct. having a clarity of I , and a co>_or of H. These Diamonds are sets in 6 prong 14K whit ' e gold screw--baoj~ style, 899.Op ~. ~~ ~..: r _ i b'~ , a e; µ ,:, ~;;~ The foregoing Appraisal is made and acce F ,~ p pon t c express erstanding ~. that NO Llabifity Ur Responsif~ilitY is jn~:u .~i hY t ~e A wiser givi g acne. ;: I; ~ ~ :.j .: . , SIGNED U ,c/YL~ _ '~"3~"~ ,.~ ., ,. ,.:.. _. r,a~.rp;~... :.,rsr.5~3.rr:et'c..:~~:_,x.. ..::>:.#~. :~C'.a~. ~r~r-_oo>n-~:z -~.~~,.> .. _ '~. ...re:....,c..._..:..-...,.,_.:.r.r.z.r-t.xxxsxs.:.r.cr.......<....rv~.--,......-..F7 :. Page 1 of 2 ~~n. ~, 2049' 10;44AM~`f" '~~''RE <>:, ,::y:: ,;.~ •-,<: ,..,~. ..~ . f'31f'~. /MpX ` .~.. '`: :;~, . ~ r '`2;K?1i`'~'\~, ti:k'>' ,:,;;4.":?,: 'c;.{';! Xiiti r~"'c.;: -:. <:;raiT „.d..,;.'' •.,,;+••. r '~~;" ~~'`p; /"'y~" z. 5 ~ 244 P. ~<'::•: • .. .X.,"3tYTS'1~2;SY..K~YSY~s~2~:~.zazs::~srxxrrrS~S~7a, ~ .~'a~"aKC~~%~~ .~ x-~~;=`: .2s:.:,.,:..;;;c;;t ~ ~>sti;` 7 ~ ~:-l ),, aal~"~L~SJ'sRf:~ll.:wi!7.'.S~l-_t.s_.~~Y~~;.'. r It i DIAMONDS ~ ') ~ ~~~ WATCHES ,,,~~~111~~~•••~~ ~~~ ~~ ESTATES JEWELRY BELLE J.~VIIELERS APPRAISED T(~ WHpM I~' MAY CONCERN:. nAT[_N,pV'r?mbar 6..~-_1g~..5 Thts tS to Gertlfy THAT WE ARE ENGAGED IN THE JtWELE3Y BU51NE55, Appraisirty Diamonds, Watches, Jewelry artd Precious Stones of ali descriptions and have been so engaged in said business for many years. We herewith certify that we have this day carefully examined the following listed and described. articles the property of - ~ Grace College 328 McCulloch Pd., Shippensburq; pA 1725'7 ADDfiES$_ We estimate the value as listed for Insurance or other iiirrpose at the current retail value, excluding Federal anc! other taxes, (n rYrakiny this p,pti'raisd}; we do NOT agrE>e tb Purt;hase qr replace the articles. 7 18" 14K yellow gold bismark neekchain weighing 4.y dwt. X50.00 Handmade., lain„: p 7ittm wride wedding ba~nc~ of 18K ye3,iow' ~ ::. gold weghxrig 2;"5' dwt:. ~ .. 300.00 ~ ': ....:; Ladies ..oPa:Z: ~~x'.:in.g with two 7.5 x 5, 5 :mm~ oval opals ~ . ::.' .... set .in .~. by~.pa:ss .st.yJ.~e of .14K ye'~,1ow go1d:;~ 450.0 ~. .. :.. , .. .. Ladi~:s; 1QK yel'~ow~ gold,:.~i.lled bang']:~e s.tX7;,~....wat~h,.` ; ..... '23 , j;e~eled with,'.h~nged s.i`aes: : ::.; - ... Ladies garn~~- pdiid~nt c.ont;aining tWel.ve rouiiYd - ,.: ;.. . . • - g~rnuzne .'garnets and ;azi~' p~;ar'.shaped garnet set.. ~. _ .. ~.. . i:n 14K y~llow'gold~ t;ea,r-drop style. : -:'. ... 25Q'.OD . ... Diamond pendant cvnt~ini'ng one . f}5 ` ct ,. brill iant'-gut Diamond set in a 14K hand-made yellow and rase gold mounting. 425..00 P Ladies 14ii white gold cross per~dar~t 'with a briliia~nt- cut D~aima><zd in the center of the cross weighing ,17 ct. having a clarity pf VS and color of G. Open heart pendant containing sixteen brizliant-cut Diamonds weighing .03 ct. each having a total weight of 1/2 carat set in 14K white gold. The foregoing Appraisal is made and accepted the that NO Liability or Responstktil;ty is incurred y the ppra I^ A ~ SIGNED r CHAMBERSBURG MALL. CHAMB~RSBURG; PA 172p1 less under anding giving s -~~4YG soa,oo 5.0 Page 2 of 2 *~~~,~ ~. 2~JG9 10,41~~~ RE%MAX ~;0.113~ P. T"~r;y L. She~tes~' ~ u.c~' ~~~~~~ ~~vi~c~ 365 Musser Raad, Shippensburg, PA .1725? 717-2643885 Appraisal for: Crracc Collebe llate: June 1, 2009 ITEM APPRAISAL VALUE Oak bedroom suite: bed, dz~esser, mirror and night stand 400.00 Living room suite: flowered. pattern with wood trim, love seat, sofa. & chair, rnatehing cherry co$ee table & 2 end stands 450.00 Older bedroom sttitc 150.00 Sun room set 2UU.00 Organ 50.00 T)in.ing room suite: oak table, 4 chairs ~& china closet 300.00 Misc. household items 250.00 '1'Q'1 AL: . 1 BUO.UU APPRAISAL p'EE: $SO.UU