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Home My WebLink About09-24-0915056051058 REV-1500 EX (06-05) OFFICIAL USE ONLY PA Department of Revenue Coun Lode Year File Number Bureau of Individual Taxes ~' Po Box 2aosol INHERITANCE TAX RETURN Hanisburg, PA 17128-0601 RESIDENT DECEDENT 21 08 1287 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 143-28-2358 12/27/2008 09/10/1937 Decedent's Last Name Suffix Decedent's First Name MI Talley Ms. Carol L (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW >, 1. Original Retum 2. Supplemental Retum ? 3. Remainder Return (date of death prior to 12-13-82) 4. Limited Estate t ~s1 4a. Future Interest Compromise (date of 5. Federal Estate Tax Return Required death after 12-12-82) "~' 6. Decedent Died Testate C~ 7. Decedent Maintained a Living Trust 0 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) 9. Litigation Proceeds Received c:_:a 10. Spousal Poverty Credit (date of death t::: 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. O) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number Terence J. Barna, Esq. (717} 852-7020 Firm Name (If Applicable) tea" REGISTER OE WILLS USE Oar Benn Law Firm C_ ~ w _. First line of address ~' - ~~> -p ~ 103 East Market Street -'~: ~~ r,,~ ,. ~ Second line of address _~ - c i P.O. Box 5185 ; `. ' ' '~ - Cit or Post Office Y DATE~.ED N "'~ State ZIP Code `E7 - _ York PA 17405-5185 ~~-- ' Correspondent's a-mail address: Under penalties of perjury, I deGare that I have examined this return, inGuding accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Dedaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN DATE ADDRESS Scott G. Talley, Executor, 209 Amherst Lane, Carlisle, PA 17015 OTHER THAN REPRESENTATIVE / / 103 East Marke Street, P.O. Box 5185, York, PA 17405-5185 PLEASE USE ORIGINAL FORM ONLY Side 1 15056051058 .15056051058 15056051058 RED-~ goo Ex (~~) oFF,~~E ~NLY PA l>epar6rgnl of Reremle Cotmty Code Year File Number Bureau of IndividualTaxes INHERITANCE TAX RETURN Po Box 280607 21 08 1287 Hurabvg,pA17i2&0607 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Sadal security Number Date of Death Date of Birth 143-28-2358 121271200$ 09li D11937 Decedent's Last Name Suffix Decedent's First Name AAI Talley Ms. Carol L (iF Appliable} Eater Surviving Spomse's Iniorrnation Balmer Spouse's Last Name Sul6x Spouse's First Name MI Spouse's Social Security Number THIS RETURN DUST BE FILED IN DUPLICATE WITH THE REGISTER AF WILLS FELL IN APPROPRIATE OYAL3 BELOW ;~ 1. Original Return p 2. Supplerrlental Return t-J 3. Remainder Return (date of death prior to 12-13-82) r.- ~ 4. Limited Estate Q 4a. Future interest Compromise (data of ,._, 5. Federal £state Tax Return Required death aAer 12-12-82) C~ 8. Decedent Died Testate O 7. Decedent Malnteinad a Living Truss 0... 8. Total Number of Safe Deposit Boxes (Attach Copy of Nrtn {Attach Copy of Trust) •,__~ 9. Litigation Proceeds Received p 10. Spousal Poverty Credo (date of death p 11. Election to tax order Sec. 9113(A} f~lween 12-31.91 and 1-1-85) (Attadt Sch. O) CORRESPONDENT - THS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFlDl.NT1AL TAT( INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number Terence J. Boma, Esq. Firm Name (If Applicable} Bann Law Firm First line of address 103 East Market Street Second line of address P.D. Box 5185 City or Post Office York Correspondent's e-mail address: State ZIP Code PA 17405-5185 {717) 852-7020 REGISTER OF WILLS USE ONLY GATE FRED Under penaltres of perjwy, I declare that I have examined ltis rolurn, inawding aocompenying sd~edulea and staferttants, and to the best of my ~ and belief, it u tare, carra~ and aanple9a. Daderation d praparer odter than the penonal raP-e:antelive is based on all informstion of which preperer has any knowledge. SIGNA E O PE SOMBE lBLE FOR FILING RETURN TE A[~RESS _ _ - Scott G. Talley, Executor, 09 Amherst Lane, Carlisle, PA 17015 SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE ADDRESS 103 East Market Street, P.Q. Box 5185, York, PA 17405-5185 PLEAdB UsE ORIGINAL FDRM ONILY Slda 1 15056051058 15056051058 J 15056052059 REV-1500 EX Decedent's Social Security Number Cal'OI L Talley ' 143-28-2358 .. s Name: Decedent _. _ _..,~~.. ._ ___.. .n~..._.___._ ~~e~~~~..__._.___ ~.~...,. _~a...__ ___ _ __W._ _~ s RECAPITULATION 1. Real estate (Schedule A) . .......................................... .. 1. 72,250.00 2. Stocks and Bonds (Schedule B) ..................................... .. 2. 0.00 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ... .. 3. 0.00 4. 9 9 ( ) ........................... Mort a es 8 Notes Receivable Schedule D 4. .. 0.00 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ...... .. 5. 30,261.69 6. Jointly Owned Property (Schedule F) ~ Separate Billing Requested ..... .. 6. 0.00 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) Separate Billing Requested...... .. 7. 119,607.32 8. Total Gross Assets (total Lines 1-7) .................................. .. 8. 222,119.01 9. Funeral Expenses & Administrative Costs (Schedule H) ................... .. 9. 12,309.88 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) .............. .. 10. 36,278.82 11. Total Deductions (total Lines 9 8 10) ................................. .. 11. 48,588.70 12. Net Value of Estate (Line 8 minus Line 11) ............................ .. 12. 173,530.31 13. Charitable and Governmental BequestslSec 9113 Trusts for which an election to tax has not been made (Schedule J) ...................... .. 13. 0.00 14. Net Value Subject to Tax (Line 12 minus Line 13) ...................... .. 14. 173,530.31 _._ .~_.__._ _._.~~. _ _ TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES m..~_.._ ~~.,,~.~.~ ~....~.~_ __._.._._.~ . ~_.~~_..~ 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .0_ 15. 16. Amount of Line 14 taxable at lineal rate X .0 45 138,577.28 1B. 6,235.98 17. Amount of Line 14 taxable at sibling rate X .12 17. 18. Amount of Line 14 taxable 34 953.03 5 242 95 , at collateral rate X .15 18 , . 19. TAX DUE ......................................................... 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT 11,478.93 15056052059 Side 2 15056052059 REV-1500 EX Page 3 Decedent's Complete Address: File Number.. 21 ~ ~ 1 ~ ~08 ~ .1287 DECEDENT'S NAME DECEDENTS SOCIAL SECURITY NUMBER Carol L Talley 143-28-2358 STREET ADDRESS 33 Abbey Court CITY Carlisle STATE PA ZIP 17015 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) (1) 11,478.93 2. CreditslPayments A. Spousal Poverty Credit B. Prior Payments 7,513.29 C. Discount 395.42 Total Credits (A + B + C) (2) 7,908.71 3. InteresUPenalty if applicable D. Interest E. Penalty Total InteresUPenalty (D + E) (3) 0.00 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. (4) 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 3,570.22 A. Enter the interest on the tax due. (5A) 0.00 B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (56) 3,570.22 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 :.......................................................................................... ^ b. retain the right to designate who shall use the property transferred or its income : ............................................ ^ c. retain a reversionary interest; or .......................................................................................................................... ^ d. receive the promise for life of either payments, benefits or care? ...................................................................... ^ 2. If death occurred after December 12,1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. ^ 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. ^ 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? .......................................................................................:................................ ^x ^ 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)]. 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+ (li-O8} Pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE ESTATE OF FILE NUMBER Carol L. Talley 21-08-1287 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 that is jointly-owned with right of survivorship must be disclosed on Schedule F. Attach a copy of the settlement sheet if the property has been sold. ITEM Include a copy of the deed showing decedent's interest if owned as tenant in common. VALUE AT DATE NUMBER OF DEATH DESCRIPTION 1' 33 Abbey Court, Carlisle, PA 17015, owned with Margurite P. Saylor, single person, as 72,250.00 tenants-in-common. Copy of Deed attached. Appraised value of $144,500.00, appraisal attached. Decedent's interest sold to the said Margurite P. Saylor on July 10, 2009 for a contract sales price of $73,000.00. Settlement Statement attached. TOTAL (Also enter on Line 1, Recapitulation.) I $ 72,250.00 If more space is needed, insert additional sheets of the same size. REV-1508 EX+ (6-98) SCI~IEDULE E p CASH, BANK DEPOSITS & MISC. COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN PERSONAL PROPERTY RESIDENT DECEDENT ESTATE OF FILE NUMBER Carol L. Talley 21-08-1287 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jolntlyowned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. Commerce Bank 50 Plus checking account, #0513036475, as of 12/30/08, plus accrued interest to DOD 672.73 2. Commerce Bank Statement savings account, #0616024452, as of 12131/08 14,763.21 3. 2004 Chrysler 300 automobile, sales price 8,400.00 4. AARP refund 166.50 5. Verizon refund 3.75 6. Addus Health Services refund 918.00 7. Miscellaneous personal property. Appraisal of decedent's personal items attached, totaling $2,837.50. 5,337.50 Items owned jointly with Margurite P. Saylor estimated at $2,500.00. All items of personal property subject to life estate of Margurite P. Saylor as per Item 3 and Exhibit "A" of the decedent's Last Will and Testament dated November 24, 2008. See attachment to Schedule E. TOTAL (Also enter on line 5, Recapitulation) S I 30,261.69 (If more space is needed, insert additional sheets of the same size) Estate of Carol L. Talley, No. 21-08-1287 Schedule E -Attachment Item 5 of the decedent's Last Will and Testament directs that out of the Commerce Bank checking accounts and the 2004 Chrysler, $465.00 per month was to be paid to life tenant Margurite P. Saylor for 12 months or until the said life tenant were to purchase the Estate's 50% interest in 33 Abbey Court, Carlisle, PA 17015, whichever occurred first.. The Estate made six (6) payments of $465.00 to the life tenant, totaling $2,790.00, before the life tenant purchased the Estate's interest in the real estate on July 10, 2009. REV-1509 EX+ (6-98) - SCHEDULE F COMMONWEALTH OF PENNSYLVANIA .IOINTLY OWNED PROPERTY INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Carol L. Talley 21-08-1287 JOINTLY-OWNED PROPERTY: ITEM NUMBER LETTER FOR JOINT TENANT DATE MADE JOINT DESCRIPTION OF PROPERTY INCLUDE NAME OF FINANCIAL INSTITUTION AND BANKACCOUNT 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 INTEREST ~ • A• See attachment to Schedule F. TOTAL (Also enter on line 6, Recapitulation) ~ S 0.00 (If more space is needed, insert additional sheets of the same size) If an asset was made Joint within one year of the decedent's date of death, it must be reported on Schedule G. Estate of Carol L. Talley, No. 21-08-1287 Schedule F -Attachment According to Exhibit "A" of the decedent's Last Will and Testament, there are various items "jointly owned as between Carol L. Talley and Margurite P. Saylor". Exhibit "A" indicates that all of these items are subject to a life estate in favor of Margurite P. Saylor, with the items to be divided equally between Scott G. Talley (son of decedent and 4.5% heir), Jill A. Gelber (daughter of decedent and 4.5% heir) and Thomas E. Pallis (friend of decedent and 15% heir) upon the death of the life tenant, Margurite P. Saylor. The value of these "joint" items, $2,500.00, is included in Schedule E and included as part of the life estate calculation in Schedule K. REV-1510 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCFIEDVLE Cs INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY ESTATE OF FILE NUMBER Carol L. Talley 21-08-1287 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 ves. ITEM NUMBER DESCRIPTION OF PROPERTY INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND THE DATE OF TRANSFER.ATTACHACOPYOFTHEDEEDFDRREALESTATE. DATE OF DEATH VALUE OF ASSET % OF DECD'S INTEREST EXCLUSION (IF APPLICABLE) TAXABLE VALUE 1 ~ Janney Montgomery Scott IRA account #81103980 DOD value , , 119,607.32 100 119,607.32 TOTAL (Also enter on line 7 Recapitulation) S I 119,607.32 (If more space is needed, insert additional sheets of the same size) REV-1511 EX+(12-99) SCHEDULE N FUNERAL EXPENSES Ec COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT ESTATE OF FILE NUMBER Carol L. Talley 21-08-1287 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: ~' Ewing Brothers Funeral Home, 630 S. Hanover Street, Carlisle, PA 17013 2,518.14 2. Memorial service expense for flowers, food, signature book, Unitarian Universalists of the Cumberland 235.81 Valley, Boiling Springs, PA 3. Fee for rector and social hall 350.00 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) Social Security Number(s)IEIN Number of Personal Representative(s) _ Street Address City .State Zip Year(s) Commission Paid: 2. Attorney Fees 7,000.00 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 330.00 5. Accountant's Fees 6. Tax Retum Preparer's Fees ~. Cumberland County Register of Wills, fees for Tax Retum and Inventory 30.00 a. The Sentinel, legal advertising 174.58 s. Cumberland Law Journal, legal advertising 75.00 ~ o. Jay Matthews, real estate appraisal fee 375.00 ~ ~ . Mt. Royal Auction, personal property appraisal fee 175.00 ~ 2. Patriot-News, classified advertising for car 69.20 TOTAL (Also enter on line 9, Recapitulation) $ 11,332.73 (If more space is needed, insert additional sheets of the same size) Estate of Carol L. Talley, No. 21-08-1287 Schedule H -Administration Expenses Continuation Sheet 13. Automobile upkeep (detailing, two gas-ups, car wash) 14. Tri-County Abstract, title search 15. Real Estate transfer taxes 16. Real Estate closing fees (deed prep, notary fee and wire fee) 114.65 15.00 730.00 117.50 sub-total = 977.15 REV-1512 EX-~ (12-08} Pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES & LIENS ESTATE OF FILE NUMBER Carol L. Talley 21-08-1287 Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH _ 1 ~ Chase credit card payoff 2,265.38 2. Smart Med, Inc., medical expenses 15.08 3. Village Artisans, Christmas gift 196.10 4. Birthday present to granddaughter,check cleared on 1/6109 150.00 5. Citi Mortgage, one half of balance ($64,861.15) as of March, 2009 32,430.58 6. Benn Law Firm, balance owed for legal services 871.68 7. Margurite P. Saylor, balance owed for 2008 Christmas gifts 350.00 TOTAL (Also enter on Line 10, Recapitulation) I $ 36,278.82 If more space is needed, insert additional sheets of the same size. REV-1513 EX+ (II-08} ~ . Pennsylvania SCHEDULE ] DEPARTMENT OF REVENUE BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Carol L. T alley "-V°-'~°' RELATIONSHIP TO DECEDENT AMOUNT OR SNARE 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. Scott G. Talley, 209 Amherst Lane, Carlisle, PA 17015 son 50°Jo residue 2. Jill A. Gelber, 5 Jenny Drive, Boiling Springs, PA 17007 daughter 50% residue 3. Thomas E. Pallis, 117 Sunset Drive, Mt. Holly Springs, PA 17065 friend specific bequests 4. Katherine and Megan Talley, 209 Amherst Lane, Carlisle, PA 17015 grandchildren specific bequests 5. Amanda, Matt and Sam Gelber, 5 Jenny Drive, Boiling Springs, PA grandchildren specific bequests 6. Rowan and Jack Pallis, 117 Sunset Drive, Mt. Holly Springs, PA friends specific bequests ENTER DOLLAR AMOUNT51=0R DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUG H 18 OF REV-1500 COVER SHEET, A S APPROPRIATE. II NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN 1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1. TOTAL OF PART II -ENTER TOTAL NON TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $ If more space is needed, insert additional sheets of the same size. REV-1514 EX+ (4-09) Pennsylvania DEPARTMENT OF REVENUE Bureau of Individual Taxes PO Box28o6oi Harrisburg PA i7~z8-o6oi SCHEDULE K LIFE ESTATE, ANNUITY & TERM CERTAIN (CHECK BOX 4 ON REV-x500 COVER SHEET) ESTATE OF FILE NUMBER Carol L. Talley 21-OS-1287 This schedule should be used for all single-life, joint or successive life estate and term-certain calculations. For dates of death prior to 5-1-89, actuarial factors for single-life calculations can be obtained from the Department of Revenue. Actuarial factors can be found in IRS Publication 1457, Actuarial Values, Alpha Volume for dates of death from 5-1-89 to 4-30-99, and in Aleph Volume for dates of death from 5-1-99 and thereafter. Indicate below the type of instrument that created the future interest and attach a copy of it to the tax return. ~ Will ^ Intervivos Deed of Trust ^ Other NAME OF LIFE TENANT DATE OF BIRTH • NEAREST AGE AT TERM OF YEARS DATE OF DEATH' ` LIFE ESTATE IS PAYABLE Margurite P. Saylor 01/23/1943 66 ', ®Life or ^ Term of Years ' ^Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years 1. Value of fund from which life estate is payable .........................................$ 77,587.50 2. Actuarial factor per appropriate table ................................................ 0.40111 Interest table rate - ^ 3.5% ^ 6% ^ 10% ®Variable Rate 3.4 3. Value of life estate (Line 1 multiplied by Line 2) ....................................$ 31.121.12 NAME OF LIFE ANNUITANT DATE OF BIRTH NEAREST AGE AT DATE OF DEATH TERM OF YEARS ANNUITY IS PAYABLE ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years 1. Value of fund from which annuity is payable ...........................................$ 2. Check appropriate block below and enter corresponding number ................ . Frequency of payout - ^ Weekly (52) ^ Bi-weekly (26) ^ Monthly (12) ^ Quarterly (4) ^Serni-annually (2) ^ Annually (1) ^ Other ( ) 3. Amount of payout per period ........................................................$ 4. Aggregate annual payment, Line 2 multiplied by Line 3 .................................. . 5. Annuity Factor (see instructions) Interest table rate - ^ 3.5% ^ 6% ^ 10% ^Variable Rate 6. Adjustment Factor (See instructions.) ................................................ . 7. Value of annuity - If using 3.5, 6, or 10%, or if variable rate and period payout is at end of period, calculation is Line 4 x Line 5 x Line 6 ...........................$ If using variable rate and period payout is at beginning of period, calculation is (Line 4 x Line 5 x Line 6) + Line 3 ...............................................$ NOTE: The values of the funds that create the above future interests must be reported as part of the estate assets on Schedules A through G of the tax return. The resulting life or annuity interest should be reported at the appropriate tax rate on Lines 13 and 15 through 18 of the return. If more space is needed, use additional sheets of the same size. Estate of Carol L. Ta11ey~No. 21-08-1287 Supplement to Schedule K and page 2 of Return. Asset 1. Bank accounts and car 2. IRA and refunds 3. House and personalty Life Estate Remainder TOTALS Total Value 4.5% $23,835.94 $21,045.94 (Schedule E) $120,695.57 $120,695.57 (Schedules E and G) $77,587.50 (Schedules A and E) n/a n/a n/a $45,424.47 15% $2,790.00 (Schedule E attachment) $31,121.12 (Schedule K) $1,041.91* $222,119.01 $187,165.98 $34,953.03 *As to the House and personalty remainder, the figure of $1,041.91 is derived by totaling the four items left to Thomas E. Pallis and his children, Rowan and Jack Pallis, on page 1 of Exhibit "A" of decedent's Last Will and Testament: a) round-backed wooden rocker $50.00; b) Peter Ellenshaw print $75.00; c) companion print of boat on misty waters $75.00; and d) CDs $30.00 divided by 7 children = $4.29 x 2 = $8.58, for a total of $208.58. To that was added the one-third interest of Thomas E. Pallis in the: "joint" items listed in Exhibit "A", or one-third of $2,500.00, $833.33. $208.58 + $833.33 = $1,041.91 **The Estate expenses of $48,588.70 (Schedules H and I) were taken out of the residuary heirs' share of $187,165.98, for a total of $138,577.28 (line 16). LAST WILL AND TESTAMENT OF CAROL L. TALLEY BE IT REMEMBERED that 1, CAROL L. TALLEY, of 33 Abbey Court, Carlisle, South Middleton Township, Cumberland County, Pennsylvania, being of sound mind, memory and understanding, do make, publish and declare this as and for my Last Will and Testament, hereby revoking and making null and void any and all Wills and Testaments and writings in the nature thereof by me, at any time heretofore made. ITEM 1: It is my desire to be cremated and for my ashes to be spread in the Atlantic Ocean with the exact location to be determined by my Executor. ITEM 2: I direct that all my just debts and funeral expenses be paid as soon after my demise as may be convenient. ITEM 3: I give, devise and bequeath a life estate with respect to all furniture and furnishings that I own at the time of my death and located in the real property known as 33 Abbey Court, Carlisle, South Middleton Township, Cumberland County., .Pennsylvania, to MARGURITE P. SAYLOR. In the event that MARGURITE P. SAYLOR, predeceases me or moves from the said real property, then the furniture and furnishings which I own shall be distributed in accordance with Exhibit "A" attached hereto and incorporated herein by reference. Said Exhibit "A" sets forth the names of those individuals that are to receive the particular item wherein their name appears. Those items for which no individual name is set forth shall be divided, by mutual agreement, between my son, SCOTT G. TALLEY, and my daughter, JILL A. GELBER. If they cannot agree amongst themselves as to who is to receive said item, then that item or items shall be sold at public sale and the proceeds divided equally between my son, SCOTT G. TALLEY and my daughter, JILL A. GELBER. ITEM 4: I give, devise and bequeath a life estate in my interest in the real property known as 33 Abbey Court, Carlisle, South Middleton Township, Cumberland County, WITNES SEAL) Pennsylvania, to MARGURITE P. SAYLOR, during her lifetime. Should MARGURITE P. SAYLOR, decide that she does not wish to reside in said property or should she vacate said property for a period of six (6) continuous months, or upon her death, whichever first occurs, the life estate of MARGURITE P. SAYLOR in the property shall automatically terminate. Additionally, the said MARGURITE P. SAYLOR, shall not be permitted to encumber said real property during the said life estate except for the mortgage or other liens existing on the property at the time of my demise, unless it is mutually agreed between MARGURITE P. SAYLOR and my son, SCOTT G. TALLEY and my daughter, JILL A. GELBER, that MARGURITE P. SAYLOR may remortgage or otherwise encumber the property in order to buy out the interest of my estate in the property upon a price mutually agreed upon between MARGURITE P. SAYLOR and my son, SCOTT G. TALLEY and my daughter, JILL A. GELBER. During the period that MARGURITE P. SAYLOR exercises her right.-under the life estate in said real property, she shall be solely responsible for the payment of all utilities, mortgage payments, taxes and maintenance affecting said real property. If MARGURITE P. SAYLOR does not keep the real property in good repair or should she fail to make timely payments with respect to mortgage obligations, taxes and utilities, then the life estate shall terminate and my Executor may dispose of the interest of my estate in the rea{ property as set forth hereinafter. Further, should MARGURITE P. SAYLOR, predecease me or terminate the life estate in the property as stated above, then I give, devise and bequeath any and all interest that I may have in the said property known as 33 Abbey Court, Carlisle, South Middleton Township, Cumberland County, Pennsylvania, as follows; A. Fifty (50%} percent thereof to my son, SCOTT G. TALLEY, per stirpes; and B. Fifty (50%) percent thereof to my daughter, JILL A. GELBER, per stripes. ITEM 5: On my personal list of items identified as Exhibit "A" I set forth a 2004 WITNE S:~ ~ ___~ SEAL) Chrysler 300 automobile. I hereby direct that the said automobile shall be sold at private sale for its fair market value or at auction at the choice of my Executor. The proceeds from said sale shall be placed in a savings account along with any other monies that I have at the time of my death, be it in the form of checking or savings accounts or other cash on hand, and I direct that the sum of $465.00 per month, for a period of twelve (12) months be provided to MARGURITE P. SAYLOR, for use toward mortgage expenses. It being my desire that the funds available in said checking or savings accounts or other cash as well as monies generated from the sale of my 2004 Chrysler 300 automobile be placed in savings and provided to MARGURITE P. SAYLOR at the rate of $465.00 per month for twelve (12) months beginning on the thirtieth day of the month following the date of my death. I direct MARGURITE P. SAYLOR to use such funds ($465.00 per month) for payment toward the outstanding mortgage expense. Should MARGURITE P. SAYLOR die during the said twelve (12) month period or should she choose to move from the said residence or should the said residence be sold either to MARGURITE P. SAYLOR, outright, or to some third party, then the said $465.00 per month payment will terminate and no longer be paid if any of the above-referenced occurs prior to twelve (12) months from the date of my death. Any funds remaining in said account after twelve (12) months from the date of my death shall be divided equally between my son, SCOTT G. TALLEY and my daughter, JILL A. GELBER. ITEM 6: Ail the rest, residue and remainder of my Estate of whatsoever nature and wheresoever situate, whether it be real, personal or mixed, including property over which I have a power of appointment, I give, devise and bequeath as follows: A. Fifty (50°!0} percent thereof to my son, SCOTT G. TALLEY, per stirpes; and B. Fifty (50%) percent thereof to my daughter, JILL A. GELBER, per stripes. ITEM 7: I appoint SCOTT G. TALLEY as guardian over any property which passes W{TN _....~ SEAL) either under this Will or otherwise to any minor children of my daughter, JILL A. GELBER, and with respect to which I am authorized to appoint a guardian and have not otherwise done so, provided that this appointment of a guardian shall not supersede the right of any fiduciary in its discretion to distribute a share where possible to such minor children or to another for said minor child's benefit. Such guardian shall have the power to use principal as well as income, from time to time, for said minor child's support and education (including college education, both graduate and undergraduate}, without regard to his or her parent's ability to provide for such support and education, or to make payment for these purposes, without further responsibility to my issue's parent or to any person taking care of said minor child. ITEM 8: I appoint JILL A. GELBER as guardian over any property which passes either under this Will or otherwise to any minor children of my son, SCOTT G. TALLEY, and with respect to which I am authorized to appoint a guardian and have not otherwise done so, provided that this appointment of a guardian shall not supersede the right of any fiduciary in its discretion to distribute a share where possible to such minor children or to another for said minor child's benefit. Such guardian shall have the power to use principal as well as income, from time to time, for said minor child's support and education (including college education, both graduate and undergraduate), without regard to his or her parent's abilityto provide for such support and education, or to make payment for these purposes, without further responsibility to my issue's parent or to any person taking care of said minor child. ITEM 9: I appoint my son, SCOTT G. TALLEY, as Executor of this my Last Will and Testament. Should my son, SCOTT G. TALLEY, predecease me, fail to qualify, cease to actor renounce probate, I then appoint my daughter, JILL A. GELBER, as Alternate Executrix of this my Last Will and Testament. ITEM 10: I am specifically excluding my daughter, SHERRY LEE ALLWEIN, from this my Last Will and Testament. WITNE S' EAL} ITEM 11: I direct my Executor, or his successor, to pay all inheritance, estate, succession and legacy taxes of whatsoever nature and kind, to which my Estate or the transfer of any property passing hereunder or otherwise passing by reason of my demise, may be subject and to charge such taxes against my residuary estate, it being my intention that none of the aforesaid taxes, either federal or state, on any property required to be included in my gross estate, under the provisions of any state or federal law now in force or hereafter enacted, shall be prorated among the persons interested in my Estate to whom such property is or may be transferred or to whom any benefit accrues. ITEM 12: I direct that my Executor, or his successor, shall not be required to give bond for the faithful performance of his duties in any jurisdiction. ~ ~/, IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~7" day of ~~~~~~~Z 2008. WITNES ~~~~ ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANfA COUNTY OF YORK . SS. We, CAROL L. TALLEY, NILES S. BENN and DAVID P, CHERNICOFF ,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 signed and executed the instrument as her Last Will and Testament and that she had signed willingly (or willingly directed another to sign for her), and that she executed it, as her free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the Testatrix signed the Last Will and Testament as witnesses and that to the best of their knowledge the Testatrix was at that time eighteen (18) years of age or older, of sound mind and under no constraint or undue influence. Sworn to and subscribed bef e me this ~- ` may of ~ ~ , 2008. PUBLIC My Commission Expires: Gd3Ml+~t34VVV`tALTH OF PEAi~]S`lL~JAtViA Itl~IGtl iC^ilf J~GI Lari A. Lighty9 Gdts3ary ~'uulie City Of YQr4c, v~ CAC3rity i~iy Cflmmission F..;cpfn:s Se~t.1 ~3, ::1110 iWem6er, Pennsylvania AssaClatEar, of )Jotarl~s ~l EXHIBIT "A" Carol L. Talley's Personal Item ^ 3 wall pieces made up of old copper plates used in the newspaper industry in attic ^ Miscellaneous copper plates in attic ^ Green painted desk w/ glass top and matching filing cabinet ^ Porcelain Iamp with ivy on it ^ Shredder next to the desk ^ Round-backed wooden rocker used at the computer -Thom ^ Balancing Mariner on stand on left side of the computer ^ Schraft table next to foyer closet • Pulaski chest in living room -Scott ^ Clock with wooden base on Pulaski chest - Ji 11 (she made it) ^ Manhattan snow globe/music box w/Twin Towers, issued by Bloomingdale's just before the terrorist attack on Sept. 11, 2001 ^ 2 restored antique Lincoln rockers in living room -Scott ^ Antique New England rocker with wooden-spindled back in living room -Jill ^ Schraft table next to foyer closet in living room ^ Peter Ellenshaw print of wild sea over chair in living room •- Thom ^ Companion print of boat on misty waters -Thom ^ Robert Bateman snow leopard print in living room -Jill ^ Print of woman w/telescope looking out at sea over entertainment center- Amanda ^ 3 water colors done by Baltimore artist; one of ducks on Children's Lake near computer; 2 of attached houses in Carlisle and Boiling Springs in Carol's bedroom -Scott ^ 2 antique school desks with brass inkwell inserts -glommed by Aunt Mae from a NYC school; both in living room ^ 2 floor lamps in living room; one with green marble, the other with aknight -one for Jill, one for Scott ^ Antique gum ball machine in living room ^ Small whitewashed table next to couch ^ Set of classics in bookcase (red backs) in living room -Scott ^ CDs in bookcase in living room -Amanda, Katie, Rowan, Megan, Sam, Matt and Jack go through them to see if they want any of this music ^ Double-decker electric carousel music box in living room ^ Large antique oil lamps, one pewter, two glass in kitchen ^ Old wooden boxes, one soap, the other Keebler's in kitchen ^ Grandma's crystal butter dish in kitchen -Jill ^ Noritake black and white stoneware in kitchen -Amanda ^ Handcrafted maple wall cabinet in dining room -Scott ^ Contents of that cabinet EXCEPT r~ t pees that belong to Pam (described under her list) P ~ ca c,--~---r- ^ Old mirror m dining room came fro an estate sale in Newton, N.J. ^ Hand-painted swan in dining room -Jill (she made it) ~ ~av, ^ Tree print over buffet in dining room made by Rhode Island artist ^ TV/VCR in Carol's bedroom ^ Basket in Carol's bedroom ^ 2 dated finger oil lamps on Carol's dresser, one found in Vt., other in Carlisle ^ Bedroom furniture in Carol's bedroom purchased in 1935 by George and Viola. includes dresser, chest, mirror, side table; restored in early 2000s -Sam ^ Antique trunk at foot of bed ^ Primitive New England rocker in Carol's bedroom, which is the oldest of all the rockers -Jill ^ Dolls in Carol's bedroom -Jill ^ 3 prints over Cazoi's bed - Jiil ^ Old family pictures framed on Carol's bedroom walls -Scutt ^ Other pix and sketches of Carol and family in hall closet across from Pam's bedroom - divide between Scott and Jill ^ Antique frame with woman hanging at entrance to Carol's bedroom; came from Antiques on North Hanover ^ Black handcrafted, hand-painted wall cabinet and matching footstool in Carol's bedroom - Jill ^ Crystal Dopey in cabinet -Jill ^ Crystal cat in cabinet -Megan ^ Green-swirled paperweight in that cabinet -Katie ^ Rest of paperweight collection -Jill as described: Sam, Matt, Amanda and Megan choose one. ^ Engraved paperweight on dresser in Cazol's bedroom ^ Memorabilia in Carol's bedroom (note: unless otherwise noted in this document, all items in Carol's bedroom, bathroom and hall closet opposite Pam's bathroom belong to Carol) ^ Great-grandma's crystal bowl currently sitting on black chest in dining room -Jill ^ Grandma's crystal bowl -Scott ^ Grandma's platinum ring -Scott because he was the closest to her ^ Jewelry, including rings, watches, bracelets, earrings, pins and hunter's watch in Carol's bedroom ^ 2004 Chrysler 300 The following referenced items are jointly owned as between Carol L. Talley and Mazgurite P. Saylor. These items are to be divided equally as between Scott G. Talley, Jill A. Gelber and Thomas E. Pallis. Should they not agree as to the division of said items, it is, hereby, directed that the items be sold at auction and the proceeds divided equally amongst Scott G. Talley, Jill A. Gelber and Thomas E. Pallis. Additionally, if one of the named parties, Scott G. Talley, Jill A. Gelber or Thomas E. Pallis, desire a particular item that would otherwise be placed for auction that individual may purchase the said item at auction (unless a fair market value is agreed to by all three parties, in which case that individual would pay the other two parties two-thirds of the agreed upon fair market value). The said joint items being the following: ^ Matching couch and oversized chair in the living room ^ Cocktail table ^ Thomas entertainment center and matching book cases i~ ~~ ~ ^ Wall shelf next to computer - JiII (Larry made it) ^ Computer and components that go with it ^ Day bed and bedding that goes with it ^ 3-fold screen separating work area and living room, crafted by a woman's organization with cloth panels that can be replaced ^ `The Written Word' painting in living room by Virginia artist whose work we saw on the way home from Virginia in 2002 -Katie ^ Victorian print of two friends having sodas with dog under table hanging over piano - Rowan ^ Small print of two friends hanging over Schraft table next to foyer closet -Megan ^ Handcrafted dark wood box with handle in living room ^ Movies, including VHS-format and DVDs, in bookcase and drawer in entertainment center -Amanda, Katie, Rowan, Megan, Sam, Matt and Jack go through them to see if they want any; doubtful if anyone wants VHS ^ Antique English buffet in dining room ^ Dining room table, six chairs, protective pad, tablecloths that fit it ^ Handcrafted, hand-painted Paul Revere side table in dining room ^ Small black and tan floor chest in dining room ^ Corner chests (3 pieces on top of each other) in dining room , ^ Pansy rug under dining room table ^ Cappuccino clock in kitchen picked up at artisans' market in NYC in 2008 ^ Waverly china service for 8 with matching hand painted goblets, salt & pepper and votives, set of 8 green water goblets ^ Mikasa Christmas set for 12 with 2 sets of matching glassware (8 snowmen goblets, 8 red water glasses with white swirl and 1 similar green one) ^ Melamine summer set for 8, includes plates, bowls, small plates, purple water glasses ^ Inexpensive goblets with flowers that match Pfaltzgraf set of dishes that Thom- has - Thom ^ Stainless flatware set for 13 in colonial pattern -purchased at a steal from Bon Ton in Carlisle due to a marking error; Pam and Carol got guarantee for set of 13 and scoured Bon-Tons in Lancaster, York, Camp Hill and Chambersburg to complete the set - another mission by the duo ^ Breakfast bar, stools and matching minor (Jill painted the b~~r and stools to match the mirror) ^ Kitchen appliances and wares- stove was in house when purchased; refrigerator, dishwasher replaced by Pam and Carol _ ^ Assorted games and puzzles in hail closet next to Pam's bathroom ^ Black and maple filing cabinet in same closet; contains burial plots at Westminster, one each owned by Pam and Carol ^ Small hall mirror with hand painted roses -Jill (she made it) ^ Christmas tree ornaments to be split about three heirs EXCF,PT wooden hand painted ornaments and stained glass ornaments that were made by Pam when her children were small -Thom to split among Rowan and Jack ^ Annalee Santas and all other Christmas decorations, including lighted Gingerbread House - split among Jill, Scott and Thom ^ Handcrafted, dovetailed stand in light wood in Carol's closet. Purchased at artisans c~ i~~ai market on the way home Virginia in 2002. Alaskan ivory carved shark purchased on trip to Alaska in 1999 sitting in black wall cabinet in Carol's bedroom; it's signed and there's a book about the artist in the bookcase in the Living room -Jack Washing machine and dryer in laundry room Shelving and cabinet in garage It is understood that the above-referenced items being listed as Carol L. Talley's Personal Items as well as those Iisted as joint items are controlled by Item 3 in the Last Will and Testament of Carol L. Talley and may be used by Margurite P. Saylor during her lifetime. MAR-19-2009 12:42PM FROM- ~~~~v~ S~ ~~~~ fiH~S`D.,~E.D. T-019 P.001/003 F-060 MADE Tl~'~' '~ ~~day of June in the year two thousand f ve {2005), E,h'TA~EEN CAROL L. TALLEY, single person AND 1VIARGUR><'I'.E P. SAYLUR, single person, as joint tenants with tight of snrvivorship and not tenants in common, of the Commonwealth of Pennsylvania _ hereinafter coiled Crraxrtars, ~. ~ ,~,, o 'Y ~' AND CAROL L. TALLER, single person ANU iVlAROU1tYTE P. ~; ~ •~- ~' SAYLOI~t, single person, as tenants in common, of the Commonwealth ~ ~ u ~ of Pennsylvania, hereinafter called Crrantees, a a: c~ ~ w =' ~ ~ Q "' ~ WITNESSETH, that in consideration of the sum of One and na/100 ($1.00) ~ ~.. ~ ~~ `. = ~ Dollars, the receipt whereof is hereby acknowledged, the said Grantor do hereby grant _-? ~ ` -' and convey unto the said Grantee, their heirs and assigns, as tenants in conunvn; ~.•. M ALL TAA~'1<' CERTAIN tract of land with improvements thereon erected situate in South Middleton Township, Cumberland County, Pennsylvania, being designated as ,i..ot H-4 in, a Subdivision Plan of The Villas, recorded in Cumberland County, Plan Book 6~, Page 14$, described, as follows: BEGYNNING at a point along common areas of The Villas; and at corner of Lot 1'fl-3; thence along said common areas, North 14 degrees 12 minutes 10 seconds East, 27.44 feet tv a point along common areas; thence along cc~mmvn areas, North 75 degrees 47 minutes 50 seconds West, $2.?5 feet to a pt~int along Gammon areas; thence along said common areas, South 14 degrees I2 minutes 1 D seconds hest, 2.7.00 feet to a point along common areas; thence along said Lat H-3, South 75 degrees 47 minutes 50 seconds East, $2.75 feet to a point of BEGINN)<l+IG, BEING designated as Lat H-4 on a Subdivision Plan recorded in Cumberland County Plan Book 52, Page 148; containing 2,151.54 square feet and being known as 33 Abbey Court, Carlisle, Pennsylvania 17013. UNDER AND SUBJECT to a Declaration of Covenants and Restrictions recorded in Cumberland County Miscellaneous Book 337, Page 202. BEINO the same premises conveyed by 17~onna Mullins, Executrix of the l.,as Will and Testament of Ruth B. Whitmore, also known as Ruth 13emice Whitmore, by Deed dared January 30, 1998, and recorded l;ebruaxy 2, 1995, in the Office of the Recorder of Deeds in and for Cumberland County in Record Book 171, Page 563, to Carol L. Talley and Margurite P. Saylor, Grantors heroin_ T~lIS lJ-FED IS A NdN-TA~4BLE TRANSFE'1z' .1`'ROM SELF TD SELF. I;QD~ ~ ~-~ PAfE~,~"~~ MAR-19-2009 12:42PM FROM- T-019 P. 002/003 F-080 UNDER AND g;3Bd~CT to any existing covenants, easements, encroachments, conditions, restrictions, and agreements affecting the progeny, visible or of record. AND the said Grantor hereby covenants and agrees that they will warrant spercially the property hereby conveyed. IN yYIT1V'~SS WHERE'OF'. said Grantor, has hereunto set theirs hand and seals the day and year first above written. Signed, Sealed and belivered in fhe presence of ~.~~ C~MMONWEt~.>LTH O)F PENNSYLVANIA ) S9. CIDUNTY qF C~CJMBEYtLAND } Gr- this, the ~~ day of June, 2005, before me, the undersigned officer, personally appeared CAROL L. TA>LLEY AND IViAItGU1tITE P. SAYLOR, single persons, known to me (or satisfactorily proven) to be the persons whose names are sz~bseribed to the within instrument, and acknowledged that they executed same for the pytrposes therein contained. 1N WITNESS'WH~REOF,1 hereur [,a.. Notary Pubic [xrnrr~>~~-«Cw~Y~' .pg~.eyN,snl~ neeod9EOntX NCprfos 90a1t ~~~ PAG~~.°J~I _ _ _ _ _ _. HIAR-19-2009 1Z:42PM FRpM- T-019 P.003/003 F-060 recisc residence and comPlet 3post office address of Y do hereby certify that the p the within named Grantees is: 33 Abbe Court Carlisle P ~,,.~- ~v,~ t f~' '' ~ - p~te: attorney or tees S~,~ANN HUGHES, PC ~~ Alexander Springy Road Carliste, PA 1'1013 .~.~:~ ~~~,~ tl~i5 to be recorded ~~,~~r,~~~lzytld ~Cotll~ty PA ~~4~uraer of ~ecds -- - BOOK ,`~~~ FAGE~.~~S Summary Appraisal Report Uniform Residential Appraisal Report File# JMRE-309 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 33 Abb Court city __ _ _ _ Carlisle state pA, zip code 17015-4370 __ __ _ __ ___ ________ _ . - --- owner of PublicRecord BorrowerNl/a ~ _ Carol Talley & S. Margurite D~~ntyCumberland _ _______ __ _ Legal Description Deed Book 269 Pa e 1976 -- - ---- _ AssessoYs Parcel # 40240759001 UH41 Tax Year 2008 R.E. Taxes $ 1 ,90Q Neighborhood Name The V111aS Map Reference Census Tract 125 • _ ~-I -- --- -- Occupant - Owner Tenant _f Vacant Special Assessments $ PUD HOA $ - per year per month Property Rights Appraised ~{ Fee Simple ~ Leasehold ~ Other (describe) Assignment Type Purchase Transaction Refinance Transaction ! X !Other (describe) EState_ A ralSal Lender/Client Carol Tally Estate Address C/O Atty. Niles Benn, 101-10 } E, Mal-ket Street 17405 _ _ _ _ _ _ Is the subject property current) offered for sale or has it been offered for sale in the twelve months prior to the effective date of the appraisal? Ves X No Report data source(s) used, offering price(s), and datets). Central Penn Mls records, and representative of owners. I 'did ~ did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract For sale or why the analysis was not performed. ]~]/a Contract Price $ N/a Date of Contract ]~/a __ Is the property seller the owner of public record? _ _.Yes.. _ No Data Source(s) N/a Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrowers Yes No if Yes, report the total dollar amount and describe the items to be paid: N/a Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One-Unit Housing Trends --- --- - __ One-Unit Housing Percent Land Use °/ Rural Urban Location Suburban P Y Pro ert Values Increasing X Stable Declining PRICE AGE One-Unit 7j,Q °ro 25-75/ Built-Up Over75% ~X ~ ° ~ Under25% ~- - DemandlSupply ( Shortage ~ X, InBalance~ Oversupply __$(000) (yrs) r 2-4 Unit 1 5,0 _- _ Growth Rapid X Stable Slow Marketing Time Under 3 mths }( 3:6 mths Over 6 mths ] 27 Low Ne W. Multi-Family Neighborhood Boundaries *** See Additional COmmentS *** 4.~0 High 25 Commercial ~ 145 _- Pred- - ] $~other 10.0 % _ _ _-_ _. - Neighborhood Description The nei hborhood is located just west of Mayapple Golf Course in_ South Middleton Township. The nei hborhood is com rised of sin Ie famil detached and attached dwellin s. Located within easy distance of public _ ~ ~ schools sho in and em to merit. No adverse factors were noted at the_tme of inspection. Market Conditions (including sUppon Tor the above conclusions) Recent York/Adams ,and Central Penn Mls statistics indicated a slew down in activit due most like) to general economic slow down and various rp ice_increases_for commoditie_s.,.Lower riced ro ernes un er 250 000.00 are sellin within three months. financin is available at reasonable rates. Dimensions Deed Book 2169 Pa e 1976 ________ Area ,OS+.- acres __, __ _ shape Rectangular view Typical Specific Zoning Classification R Sldentlal zoning Description Residential Zoning Compliance ' X Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe) Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X Yes No If No, describe Utilities Public Other (describe) _ Public Other (describe) Off-site Improvements--Type Public Private Electricity X water ~{ Street Asphalt X ___ _ - - Gas ~ Sanitary Sewer , }{ Alley None FEMA Special Flood Hazard Area ~__ ;Yes ,X ' No FEMA Flood Zone X FEMA Map No 420371 OO 1 OC FEMA Map Oate 1996-01-OS - : Are the utilities and off-site improvements typical for the market area? 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 The location and site are t ical of the subdivision. No adverse easements nor encroachments were noted_at inspection, however the a rais r has not examined the title documents.. a common party walls between units to the west c)f~ the sub~ect. General Description Foundation Exterior Description materialslcondition Interior matarialstcondition Units X One One with Aocessory Unit _ ' X .Concrete Slab Crawl Space _ Foundation Walls None Floors Ceramic/W xwG # of Stories Qpe ~ Full Basement Partial Basement Exterior Walls Br/Vin 1/GOO(I __ __ Walls Dr Wall/Ci --~-- - Type Det. l' Att. }( S~DeUEnd Unit Basement Area N/3 sq. ft. Roof Surface Corp Sh /G___._. _ _ _ TrimlFinish Standard/G }( Existing Proposed Under Const Basement Finish _ _ N/a % Gutters & Downspouts A I U111/CJ Bath Floor CeraIT11C/~ Design(Style) Town I-IOIUSe OufsideEntry/Exrt Sump Pump WindowType Dole }-lUn~~000d Bath Wainscot Ceramic/G _ Year Bull ] 992 Effective Age (Yrs) 5 Evidence of Infestation ,Dampness Settlement _ Storm Sashllnsulated I nsLllal.ed~G Screens eS/G Car Sloraye Nome )( Driveway # of Cars I Attic X Norte Drop Stair Slaiks Heating FWA HWBB Radiant X Other Bb Fuel EIeC Amenities WoodStove(s)# Fireplace(s) # l X Fenca Driveway Surface Asphalt ~{ Garage # of Cars 1 Floor Scuktle Cooling X ;Central Air Conditioning X Patio/Deck 2 Porch Carpon # of Cars Finished He ted Individual Other Pool Other X Att. Det Built-in ~ Appliances ~ X i Refrigerator Range/Oven X Dishwasher Disposal', Microwave WasherlDryer Other (describe) Finished area above grade oontains: 5 Rooms 2. Bedrooms 2 Bath(s) 1,620 Square Feet of Gross Living Area Above Grade Additional features (special en rgy efficient items, etc.) 200 Amp electric serv_ice,.-Insulated_wlndgws. Describe the condition of the ~, property (including needed repairs, deterioration, renovations, remodeling, etc.). A t the C l m e__ O f a r a i s a l the r 0 e r t - _-1-?p_----__ p ~ y a eared to be well m' intained. No deferred maintenance was noted. Kitchen and baths are modern. _Very littl_e_ wear and tear on floor coverin limited de recation. _.. Are there any physical deficien ies or adverse conditions that affect the livability. soundness, or structural integrity of the property? Yes ~( No If Yes. describe the a raiser ins ected the~roperty_for purposes of evaluation.. of value. The appraiser is not qualified to dutkrmin~~i structural inte rit or soundness,. ]f_required_c~_uali~ed_pr_ofessionals should be employed. Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? }( Yes No If No, describe _. The sub'ect is a one sto town house which is typical of the subdivision. Freddie Mac Form 70 March 2005 Page 1 of 6 Fannie Mae Form ~ 004 March 2005 Jay Matthews, Inc. Summary Appraisal Report Uniform Residential Appraisal Report File # JMRE-309 There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ There are 2 comparablq sales in the subject neighborhood within the past twelve months ranging in sale pace from $ 127 OOO.OO to $ 14O 900.00 FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 ~ COMPARABLE SALE # 3 33 Abbey Court 3 Address Carlisle ~ 4 Abby Court 7 Carlisle `_______________. __ Abbey Court 53 Pine Street Carlisle-.._..-_... _ jCarlisle ProximirytoSub}ect 0 miles ____ 0.03 miles SE 11.26 miles NW Sale Price $ N/a $ 140 900 $ 127 000 $ 139 900 Sale Price/Gross Liv. Area $ sq. ft $ 91.49 sq. ft $ 96.73 sq_ ff. $ 105.98 sq. ft Data Source(s) Mls Reeds #-_10163285..- _ - Mls_ Recds # 10.1.54429 Mls Recds # 10166824 Verification Source(s) PUbI1C ROCdS PUbI1C ReCCIS _' . -- - -- VALUE ADJUSTMENTS 'DESCRIPTION DESCRIPTION +(-)$ Adjustment i ~ DESCRIPTION ~ +(-)$ 4djustment DESCRIPTION t(-I$ Adlustmern Sale or Financing Concessions Cash one Cash 'Conventional one __i__ __ _ 'None - ~-- Date of Sale/Time 7/29/08 311.3!08 __ 11 /26/08. Location Su urban Suburban Suburban _ -__ Suburban Leasehold/Fee simple ~~ Fee Sim le Fee Sim le Fee Sim le '~Fee_Sin~le ____ -F. - _.. ~- --.-- - site .OS~.- acres .OS+/- acres.... ' __ _i .05±/- acres _ _ 06+/- acres _ view T ical T ical T ical Typical- _~____ ____ Design (Style) Town House Town House Town House _ ___.__ ;Town House --- Ouality of Construction God Good Good ___ Good __ AaualAge condition ~1o7/ES ' d 1991 Ciood 1987 Avera e ____ +7 500~~ -- ~ - "2,50( -__ ~ Good Room Coudnt T 581 Bd~ s_ B ~ s r Sal Bd~ s. B ~ s - TSaI -'- Bd~ s~ B ~ s __ ,, II ` Baths T Sal Bdrms . S -2,00( GrossLivingArea .1,620_ sg rt _.1,540.- _sg ft ' ---+2,400__ 1,313 sq ft +9,~ IO j,3~1) sq tl 't) O(1( __ Basement ~ Finished Rooms Below Grade Slab ----_.-- .Slab ------- -----------~ Slab ~ ~~Slab _ _ _ ' ---_. _._..--- - Functional Utility Avera e Average - Avera e _ ~ _ _ _ _~Ave_ra$e. _ _ _ Heating/Cooling BbElec/Cac BbElec/Cac BbElec/Cac_ I ___~Heat.Pum~ , __ -2,00( T_ Energy Effcient Items lns' toted W Insulated W Insulated W __ __ ~ jl nsulated W ; f _ Garage/Carport Gar 1 1-car attached 1-car attached ' ___ ____.iGar-1_ _ ,_ Porch/Patio/Deck Pat os EU Patio IU +2,000 Patio. E_U. CPatio IlJ ! +2,00 i ~ Net Adjustment (Total) ' X I + ~ _ i - $ 4 4UU ' n ~ * , _- ~ - $ 1 b, / l UI __ ~ ~ *___- I~ 41J V V - --- - - - _ Adjusted Sale Price Nel Adj. 3,12 % Net Adj. 13.16 % ~ Net Adj. 3.22 of Comparables Gross Adj. 3.12 % $ 145 300 Gross Adj. 13.16 % $ 143 710 Gross Adj. 12.51 % ~'$ 144 400 I ~' ~! did ! did not research the sale or transfer history of the subject property and comparable sales. If not, explain My research ~ did X did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal Data source(s) Penn central and York/Adams Mls Recds ,_____ _-_______ __ - - - - - My research ' did ~ did not reveal any prior sales or transfers of the comparable sales for the prior year to the date of sale of the comparable sale. Data Source(s) Penn central and xork Adams Mls Recds _ _ _ _ _ _ Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE# 1 COMPARABLE SALE # 2 ~ COMPARABLE SALE # 3 Date of Prior Sale/rransfer O PreV10US_Sale_ 0 PrevIOUS Sale o Previous Sale ~0 PreV10L1S Sale - -~ -- - . Price of PriorSale(rransfer Past Three Years Past Three Years __`_PPast Three Years _ Past Three .Years ~---- - Data source(s) Deed/Pub Recds _ Deed/Pub Recds Deed/Pub F:ee.ds peed/Pub Recds Effective Date of Data Source(s) 2/20/09 2/20/09 2/20/09 __ _ 2/20/09 Analysis of prior sale or trans~er history of the subject propeM1y and comparable sales The appralSer reVleWe(I transfers for the past threeXearS fOr the sub~ct and comp~rables. The appraiser utilized information supplied from the Yark/Adams Realtor Association and. from York County Assessment records. All information is considered reliable, but no guaranteed. - - --- --- - SummaryofSalesComparisonApproach Comparables #I and #2 are located_in the immediate_s~abdlvision, comparable ~3 located northwest of the subject differences in dwelling size structural equipment, condition-and.location.- end emit vs, interior unit were noted Com'parables#1 and #2 were given the greatest weight. _ _ ___- Indicated Value by Sales Co~ parison Approach$ 144 SOO Indicated Value by: Sales ',COmparison Approach$ 144,SOO Cost Approach (if developed) $ ~1/a Income Approach (if developed) $ N/a The cost and income roaches were considered however the sales comparison approach is given the greatest weight as __ r•mm~arahle sales wer availahle and considered reliable. _ --_ PP J~ 1 ~ --- -------- - -- .. __ .. r-~ This a raise! is made ' 'as ls; i ~ 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 sublect to me following regwred inspection b ~sed on the extraordinary assumption that the condition or dehaency does not require alteration or repair: Based on a complete visual'. inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraisefs cehification, my (our) opinion of the market value, as defined, of the real property that is the subject o/ this report is $ 144 S00 as of December 12 2008 which is the date of inspection and the effective date of this appraisal. Freddie Mac Form 70 March 2005 Page 2 of 6 Fannie Mae Form 1004 Marcn zo05 Summary Appraisal Report Uniform Residential Appraisal Report Fflle# JMRE-309 The sub~ect a raisal is com leted as of the date of death 12/27/08. The inspection was done on February 16 2009. the_ ur ose of the a ra'sal is to establish market value as of the_date of death 1.2/27/08 . The intended users of this appraisal . _ is the Estate of Caro L. Talley and the executor_and_attorney_therefore. COST APPROACH TO VALUE (not required by Fannie Mae) Provide adequate information forj the lender/client to replicate the below cost figures and calculations. Support for the opinion of site ~Nalue (summary of comparable land sales or other methods for estimating site value) ESTIMATED REPRODUCTION OR _ _ ,REPLACEMENT COST NEW OPINION OF SITE VALUE .......... _... __. __ __.._ _$ Source of cost data Dwelling 1 620 Sq. FL @ $ __ _. __ _ _$ Quality rating from cost service ENective date of cost data BSMT NJa Sq. Ft. ~ '6 _$ Comments on Cost Approach (g oss living area calculations, depreciation, etc.) ' The costa roach alt ou h considered is not a licable due Garage/Carport Sq. Ft. @ $__ __ _$ - ___ to the chronolo ical e ofthe sub'ect ro ert . As ro ert Total Estimate of Cost-New _ . _$ a es estimatin fo' sub~ective and the ms of depreciation becomes more_ roach loses its reliability. _ .Le55 __ Physical F ct~onaljExternal Depreaahon_ _ ___ _$( ) Depreciated Cost of Improvements _ _$ 'As-is' Value of Site Improvements. __ _ _ _. _._ _ . _$ _$ ---- -- - _ Estimated Remaining Economic Life (HUD and VA only) -5 Years Indicated Value By Cost Approach =$ INCOME APPROACH TO VALUE (not required by Fannie Mae) Estimated Monthly Market Re t $ X Gross Rent Multiplier = $ Indicated Value by Income Approach ~ Summary of Income Approach ~I (Including support for market rent and GRM) PROJECT INFORMATION FOR PUDs (if applicable) -- Is the developer/builder in c ntrol of the Homeowners' Association (HOA)? I Yes No Unit type(s) ~. Detached Attached Provide the following informati n for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit. ~ Legal name of project _ ~' _ Total number of phases ',. Total number of units Total number of units soltl Total number of units rented Total number of units for sale Data Source(s) Was the project created by the ~ COnversion of existing building(s) into a PUD? Yes No 1f Yes, date of conversion • Does the project contain any ulti-dwelling units? '. Yes No Data Source(s) Are the units, common elemer ts, and recreation facilities wmplete? ~' Yes No If No, describe the status of completion. Are the common elements (ease - to or by [he Homeowners' Association? Yes No If Yes, describe the rental terms aid options --- • Describe common elements and ecreational facilities Freddie Mac Form 70 March 2005 Page 3 of 6 Fannie Mae Form 1004 March 2005 Jay Matthews, Inc, Summary Appraisal Report Uniform Residential Appraisal Report File# JMRE-309 This report form is delsigned to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a lalanned unit development (PUQ). This report form is not designed to ~eport 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 use:, 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 Nvork to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modificatiolhs 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 qr 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 froml, 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 M~RKET 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 frgm seller to buyer under conditions whereby: (1) buyer and seller area typically motivated. (2) both parties are well informr~d or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is albWed 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 [he property sold unaffected by special or creative financing or sales concessions" granted by anyone associated with the sale. 'Adjustments to the cpmparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those cojsts which are normally paid by sellers as a result of tradition or law in a market area, these costs are readily identifiable sine the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be mlade 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 ad}'ustment 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':; certification in this report is subject to the following assumptions and limiting conditions. 1. The appraiser will ryot be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for inforrrration 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 lexamined the available flood maps that are provided by the Federa 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 'I determination. 4. The appraiser wiN not give testimony or appear in court because he or she made an appraisal of the property in question. unless specific arrangekrtents 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 hazardousl, wastes, toxic substances, etc.) observed during the inspection of the: subject property or that he or she became aware of I during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser h~~~as 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 ho guarantees or warranties, express or implied. The appraiser will rot be responsible for any such conditions that do exis~ or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser Isis 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 ilalterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a prdfessional manner. Freddie Mac Form 70 March 2005 Page 4 of 6 Fannie Mae Form t ooa March 2005 Jay Matthews, Inc. Surrunary Appraisal Report Uniform Residential Appraisal Report File # JMRE-309 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 m this appraisal report. 2. I performed a conhplete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements I'in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, br structural integrity of the property. 3. I pertormed 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 thins appraisal report was prepared. 4. I developed my of}inion 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 otherwi~e indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for ttie subject property. any offering for sale of the subject plroperty in the twelve months prior to the effective date of this appraisal, and the poor sales of the subject property for a minimr~m of three years prior to the effective date of this appraisal. unless otherwise indicated in this report 6 1 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 ~f 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 sale 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 i:he differences between the subject property and the cor{tparable 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 lof the subject property. 11. I have knowledgq and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessrr}ent records, public land records and other such data sources for the anaa in which the property is located. 13. I obtained the i~hformation, 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 intp consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the pr~ximity of the subject property to adverse influences in the development of my opinion of market value I have noted in this ~'ppraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, [he presence of hazardo~s wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or t}tat I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in'i, 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 kno~ngly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and infor ation in this appraisal report are true and correct. 16. I stated in this'i appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to Ilthe assumptions and limiting conditions in this appraisal report. 17. I have no preserht or prospective interest in the property that is the subject of [his 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, fart{tilial 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 specifi~ value, a predetermined minimum value, a range or direction in vabue, a value [hat favors the cause of any party, or the atkainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application) 19. I personally pre ared 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 performance of this appraisal or the preparation f this appraisal report, I have named such individual(s) and disclosed the specific tasks pertormed in this appraisal report. I c rtify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change [o any it m 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. Freddie Mac Form 70 March 2005 Page 5 of 6 Fannie Mae Form 1004 March 2005 5ttmmary Appraisal Report Uniform Residential Appraisal Report Fite# JMRE-309 21. The lender/client rmay disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgage 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, or 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. i 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government $ponsored 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 r~port was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable f~deral 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 orl'~, negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18. United States Code, Section 1001, ek seq., or similar state laws. SUPERVISORY Af~PRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that 1 . I directly supervised l 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, conclusion, and the appraiser's certification. 3 The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualili'ed to pertorm this appraisal, and is acceptable to pertorm this appraisal under the applicable state law. 4. This appraisal reporrIt complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Algpraisal 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 f deral and/or state laws (excluding audio and video recordings), or a acsimile transmission of this appraisal report contai ing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper vefsion of this appraisal report were delivered containing my original hand written signature APPRAISER Signature Name JaxMattl Company Name J Company Address Telephone Number ']]']- Email Address Date of Signature and Rep Effective Date of Appraisal State Certification # GA- or State License # `__ _ or Other _______ State pA ' Expiration Date of Certifica SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name ]pC. _ __ Company Name ;k Dam Road Company Address Telephone Number Email Address Date of Signature February 25, 2009 7 ----- or License 06/30/09 ADDRESS OF PROPERTY ~4PPRAISED 33 Abbev Court I APPRAISED VALUE OF S~18JECT PROPERTY $ I¢_4 5~0. _ __ _ _ LENDER/CLIENT Name ~~ __ Company Name Carol T lie Estate ___ company Address C/O A t .Niles Benn 10 I -103 E. Market Str et 17405 Email Address Freddie Mac Form 70 March $005 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 Page 6 of 6 Fannie Mae Form 1004 March 2005 Jay Matthews, Inc. Jav Matthews. Inc. File No. Borrower or Owner N/a Property Address 33 Abbe Court city Carlisle county Cumberland state pA. Zip code 17015-4370 Client C`arnl TallP~ Fctata COMPARABLE #1 ~~~~ ":;~ .~ ,_ 34 Abby Court Carlisle Price $140,900 Price/SF 91.49 Date 7/29/08 Age 1,991 Room Count 5-2-2 Living Area 1,540 ValueIndica6on $145,300 COMPARABLE #2 7 Abbey Court Carlisle Price $127,000 Price/SF 96.73 Date 3/13/08 Age 1,987 Room Count 6-2-2 Living Area 1,313 Value Indication $143,710 3 .,, k i ,. OMB NO. 2502-0265 -j\j- r ~~ M A. B. -i .. c OF LOAN: DEPARTMENT OF NO SING & URBAN DEVELOPMENT U S 1.QFHA 2.QFmHA 3.QX CONY. UNINS. 4.QVA 5.QCONV. INS. . . SETTLEM NT STATEMENT 6. FILE NUMBER: 09-236.PFD 7. LOAN NUMBER: 77785035 8. MORTGAGE INS CASE NUMBER: C. NOTE: This form is fur fished fo give you a statement of actual settlement costs. Amounfs paid to and try the settlement agent are shown, Items marked " OCJ" were paid outside the closing; they are shown here for informational purposes and are not included in the totals. 1.0 3198 (09-236. pfd/09-236.PFD/39) D. NAME AND ADDRESS F BORROWER: Margurite P. Saylor ii 33 Abbey Court ! Carlisle, PA 17015 ', E. NAME AND ADDRESS OF SELLER: Scott G Talley Executor of Carol L. Talley Estate Margurite P. Saylor F. NAME AND ADDRESS QF LENDER: Commerce Bank/Harrisburg t/d/b/a Metro Bank 3801 Paxton Street Harrisburg, PA 17111 G. PROPERTY LOCATION:'., 33 Abbey Court PA 17015 Carlisle H. SETTLEMENT AGENT: Benn Law Firm I. SETTLEMENT DATE: July 10 2009 , Cumberiand County, Pennsylvania PLACE OF SETTLEMENT 103 E. Market Street York, PA 17401 , J. SUMMARY F BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION 100. GROSS AMOUNT DUE ROM BORROWER: 400. GROSS AMOUNT DUE TO SELLER: 101. Contract Sales Price 73,000.00 401. Contract Sales Price 73,000.00 102, Personal Pro ert 402. Personal Pro ert 103. Settlement Char es to B rrower Line 1400 37,696.52 403. 104. 404. 105. 405. Ad'ustments For Items Paid B Seller in advance Ad'ustments For Items Paid B Seller in advance 106. Cit (town Taxes to 406. Cit (town Taxes to 107. Count Taxes to 407. Count Taxes to 108. School Taxes to 408. School Taxes to 109. Water, sewer ~ or trash 409. Water, sewer & or trash 110. 410. 111. 411. 112. 412. 120. GROSS AMOUNT DUE ROM BORROWER 110,696.52 420. GROSS AMOUNT D!J'E TO SELLER 73,000.00 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IN AMOUNT DUE TO SELLER: 201. De osit or earnest move 501. Excess De osit See Instructions) 202. Princi al Ameunt of New oan s 115,200.00 502. Settlement Char es to Seller (Line 1400) 32,402,46 203. Existin loans taken su ect to 503. Existin {oan s taken sub'ect to 204. 504. Payoff of first Mortgage 205. 505, Pa off of second Mort a e 206. 506. 207. 507. 208. 508. 209. ', 509. Ad ustments For Ite s Un aid 8 Seller Ad~ustments For Items Un aid B Seller 210. Cit !town Taxes to 510. Cit /Town Taxes to 211. Count Taxes ' to 511. Count Taxes to 212. School Taxes to 512. School Taxes to 213. ! 513. 214. 514. 215. 515. 216. 516. 217. 517. 218. 518. 219. I 519. 220. TOTAL PAID BY/FOR 80 ROWER 115,200.00 520. TOTAL REDUCTION AMOUNT DUE SELLER 32,402.46 300. CASH AT SETTLEMENT ROM/TO BORROWER: 600. CASH AT SETTLEMENT TOIFROM SELLER: 301. Gross Amount Due From orrower (Line 120 110,696.52 601. Gross Amount Due To Seller Line 420) 73,000.00 302. Less Amount Paid By/For orrower (Line 220) ( 115,200.00 ) 602. Less Reductions Due Seller (Line 520) ( 32,402.46 303. CASH ( FROM) (X TO) BORROWER 4,503.48 603. CASH (X TO) ( FROM) SELLER 40,597.54 The undersigned hereby ackndwledge receipt of a completed copy of pages 1&2 of this statement & any attachments referred to herein. Borrower ~:`~'~~ / ~, Seller ~Q„/-4. ~`~t ~'~'` `"~' ~ lu~f i.~.~.~~r Marg ite P Saylor ~ Scott G. Talley, xecutor of he Glarol L. Talley Estate M gurit .Saylor ' ' ; Page 2 L. SETTLEMENT CHARGES 700. TOTAL COMMISSION Based on Price $ % PAID FROM PAID FROM Dlvislon Of Commission {(ine 7OO) aS FOIIOWS: BORROWER'S SELLER'S 701. $ to FUNDS AT FUNDS AT 702. $ t0 SETTLEMENT SETTLEMENT 703. Commission Paid at Set lement 704. to 800. ITEMS PAYABLE 1N C NNECTION WITH LOAN 801. Loan Ori ination Fee % to 802. Loan Discount 1.0000 % to Commerce Bank/ Harrisburg Ud/b/a Metro Bank 1,152.00 803. Appraisal Fee ~ to Diversified Appraisal Svc. POC:B325.00 25.00 804. Credit Report to Equifax Mortgage Services POC:L13.18 805. Lender's Inspection Fee to 806. Mort a e Ins. A ,Fee to 807. MERS Assignment to MERS POC:L6.95 808. Underwriting fee ' to Commerce Bank/ Harrisburg t/d/b/a Metro Bank POG:L397.00 809. Administration fee to Commerce Bank/ Harrisburg t/d/b/a Metro Bank 575.00 810. Overnight mail fee to Unishippers POC:L16.00 811. Flood certification fee to Wolters Kluwer Fi POC:L6.00 900. ITEMS REQUIRED BY ENDER TO BE PAID IN ADVANCE 901. Interest From 07/15/09 I to 08/01/09 @ $ 15.200000(day ( 17 days 4.7500°l0) 258.40 902. Mort a e Insurance Pre iumfor months to 903. Hazard Insurance Premi m for 1.0 ears to Peerless Indemnit POC:B390.00 904. i 905. 1000. RESERVES DEPOSIT D WITH LENDER 1001. Hazard Insurance 2.000 months $ 32.50 er month 65.00 1002. Mort a e Insurance months $ er month 1003. Cit (Town Taxes 6.000 months $ 32.72 er month $384.76 pd. 2009 196.32 1004. Count Taxes months $ er month 1005. School Taxes 2.000 months @ $ 122.71 per month 245.42 1006. months $ er month 1007. months er monlh 1008. A re ate Escrow Ad'u tment months $ er month -130,88 1100. TITLE CHARGES 1101. Settlement or Closin Fee to 1102. Abstract or Title Search to 1103. Title Examination to 1104. 2009-10 School taxes to Robert Cairns 1,443.02 1105. Document Pre aration to Benn Law Firm Deed 100.00 1106, Nota Fees to Benn Law Firm 35.00 10.00 1107. Attorney's Fees to includes above item numbers: 1108. Title Insurance to Benn Law Firm/First American Title Ins. Co, REISSUE 1 179.88 includes above item numbers1100, 1101, 1102, 1103, 1111 1109. Lender's Coverage $ 115,200.00 1110. Owner's Coverage $ 146,000.00 1,179.88 1111. Endorse. 100/300/8.1lPUD to Benn Law Firm/First American Title Ins, Co. End. $200.00 1112. Closing Service Letter to First American Title Insurance Company 35.00 1113. Wire fee incoming/payof, out to Benn Law Firm 17.50 7.50 1200. GOVERNMENT RECOR ING AND TRANSFER CHARGES 1201. Recording Fees: Deed 49.50; Mortgage $ 82.50; Releases $ 132.00 1202. Clt /Count Tax/Stam s: ransfer Taxes 730.00' 1% 730.00 1203. State Tax/Stam s: ransfer Taxes 730.00; 1% 730.00 1204. Pa off First Mort a e to CitiMort a e 31,554.9 6 31,554.96 1205. WaterlSewer final to SMTMA 120.4 0 1300. ADDITIONAL SETTLEM NT CHARGES 1301. 5urve to 1302. Pest Ins ection to 1303. Overni ht fee for k / a ffs to Benn Law Firm 7.5 0 1304. Tax Certification to Robert Cairns 5.0 0 1305. Electronic document retri val to Benn Law Firm 50.0 0 1400. TOTAL SETTLEMENT C ARGES (Enter on Lines 103, Section J and 502, Section K) 37,696.5 2 32,402.46 Niles S. a n; Esquire Settlement' gent Certified to be a true copy. The undersigned hereby ackngwledge receipt of a completed copy of pages 1 &2 of this statement & any attachments referred to herein. Borrower ~~' rL ,~ ~' ~ ~ 1 ' Marg~ rite P aylor Seller _~~~fi~/fp(y~,? ~~cxuw~(t ~1d ~ ~ ~~. ~ ~S~c/ottScott G. Talley, Executor~a"Iley, Executor of e Carol L, Talley Estate Ma gurit .Saylor ( 09-23fi.PFD f 09-236.PFD 145 ) ~ e r ~ i DISBURSEMENTS SUMMARY /BALANCE SHEET Bor ower: Margurite P. Saylor eller: Carol L. Talley Estate L nder: Commerce Bank/Harrisburg t/d/b/a Metro Bank Settlement gent: Benn Law Firm (717)852-7020 Place of Settle ment: 103 E. Market Street York, PA 17401 Settlement Date: July 10, 2009 ~ Property Loc tion: 33 Abbey Court Carlisle, PA 17015 ', Cumberland County, Penns ylvania '~ INCOMING FUNDS Commer ce Bank/ Harrisburg t/d/b/a Metro Bank Loan Funding Amount 112,813.74 Total Incoming Funds 112,813.74 DISBURSEMENTS Robert airns 2009-10 School taxes 1,443.02 Benn La Firm Notary Fees 45.00 Tri Coun y Abstracting Title Insurance 135.00 W Benn La Firm Wire fee incoming/payoff out 25.00 Cumberl nd County Recorder of Deeds City/County Tax/Stamps 730.00 Cumberl nd County Recorder of Deeds State Tax/Stamps 730.00 CitiMortg ge Payoff First Mortgage 63,109.92 SMTMA Water/Sewer final 120.40 Benn Law Firm Overnight fee for pkg/payoffs 7.50 Robert Cairns Tax Certification 5.00 Carol L. Talley Estate Closing Proceeds 40,597.54 Margurite P. Saylor Excess Cash to Close 4,503.48 Commerce Bank/ Harrisburg t/d/b/a Metro Bank Loan Closing 0.00 Loan Discount 1,152.00 Deducted Appraisal Fee 25.00 Deducted Administration fee 575.00 Deducted Interim Interest 258.40 Deducted Escrow: Hazard Insurance 65.00 Deducted Escrow: City/Town Taxes 196.32 Deducted E5CfOW: School Taxes 245.42 Deducted Aggregate Escrow Adjustment -130.88 Deducted Benn Law' Firm Settlement Agents Fees 1,017.90 Document Preparation 100.00 Title Insurance 867.90 Electronic document retrieval 50.00 First American Title Insurance Company Title Charges 211.98 Title Insurance 176.98 Closing Service Letter 35.00 Cumberland County Recorder of Deeds Government Charges 132.00 Recording Fees 132.00 Number of checks - 14 Total Disbursements 112,813.74 APPROVED. f w ~ ~ Fey t,-~ ~... ~Y~ t. ~/ Y i"f ! .,rJ}~~~_ ~~:'.;~~.ls' t~i~~ ~, `.' v~Wl-:~-1 ~ ^^Y ~ /" 1.~..t'A ~/~ 't.Yl/ Ma t uriteP. aylor -~~ Scott G. Talley, Executor of the Carol L. Talley Estate Maagurite,,.8aylor (09-236. pfd/09-236. P FD/43) r • ~ s Tit. ~oyalAuction 6421 Carlisle mad ~o~er, ~a. 1731.5 phone: 717-292-1554 Fax• X17-308-ZOS1 March 3, 2009 die following is an appraisal of personal property items from the estate o. f CarolL. Talley, 33.~66y Court, Carlisle, tea. 17015. ~'ulaski Chest - $17S Gead Crystal Bowl - $2S Clock hand made) - $10 Z Vane Seat <iZockers need repair) - $4S der Chair Cane ,feat mocker - $7S ~I~larinerlron mac. - $6S Green ~eskc~ Stand - $60 rt~(later Color Print - $1 S ~aperShredder - $20 ZVritten Zilord ~'icture - $40 Gum fall ~t~lachine - $SS Iron/~lar6Ce base Gamp - $SO Table ~'N/Flowered design - $90 Iron Floar Lamp - $40 Framed Batemann lnrint - $75 Gaily ~N/Telescope ~l'ainting - $9S 2 DCdSchooll~esks - $60 <1'er~esk ~flhite~vash CJlass Top Stand - $30 Set of hooks - $10 S0+ Music C~J s - $30 2 Glass C1iCGamps - $35 <1'''erGamp Aladdin OilLamp - $6S 7~ee6ler• Bo.Z - $40 OakGe'~af ~o.~- $3S butter }wish - $S Set of ' hes - $20 ~blaple , allShelf - $1S _. ~ . ~ ~ 2aCCe~- Estate, <'age 2 ~arls6adAustria Cups/Saucers (broken) - No ~aCue Etched ~I~lirror - $4S Carv~dSwan - $3S ~ree4lrint-$20 Frarrted FamiCy Bhotos - $SO 3 Fldwer cjZ Bird Brints - $7S Basket - $3S 2 Finger oiCLamps - $30 Ber Lamp ~tap~Ce Bedroom Suite Ztl/Bedding - $~95 ~ock~r - $4S Came~CBack2Jrunk- $40 Fana.sonic ~/Z'CI~,- $6S Cow Over Moon Chest - $3S ~V~u/sac ZI1al~Ca6inet - $20 Raper' Zi/eights - $30 G'iraf~e Figurine - $1 S Crystc~CBcs. - $17. SO Lladro Figurines (damaged) - $20 ChiCd"s Stung Spoon - $20 Botte~y Figurines - $1 S ~l~fisic'Bo.~- $.10 ~Kar6~e style ~oCphin - $s Bear ~iV/Bed - $1 D 1 S ~ezveC4NaCthan Rocket match - $200 ~1'latin~um Gadies 1~,ing - $12S ~l~tzsc. Costume,~eweCry - $7S Lady/'Cower Framed Bicture - $6S If th~re are any questions concerning this matter, pCease contact meat the addres.~ and phone number C~.sted above. ,_ , 2aCCey testate - ~a~e 3 SincereCy, ,def. fret' L. Sterner #A`iJ2S02-L Owner/Auctioneer