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HomeMy WebLinkAbout11-23-09REV 1500 15056041158 - EX (06-OS) OFFlCIAL USE ONLY PA Departrnent of Revenue Bureau of Individual Taxes County Code Year File Number Po Box 2aosot INHERITANCE TAX RETURN 21 08 01065 Harrisburg, PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 10162008 09041921 Decedent's Last Name KOHLER Suffer Decedent's First Name ALICE (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffer Spouse's First Name Spouse's Social Security Number FILL IN APPROPRIATE BOXES BELOW THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS MI L MI ^X 1. Original Retum ^ 2. Supplemental Retum ^ 3. Remainder Retum (date of death prior to 12-13-82) 4. Limited Estate ^ 4a. Future Interest Compromise (date of ^ 5. Federal Estate Tax Retum Required 6. Decedent Died Testate ~ 7. death after 12-12-62) Decedent Maintained a Living Trust ]` 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) ^ 9 ^ 10 ^ 11 . Litigation Proceeds Received . Spousal Poverty Credit (date of death . 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 CONFIDENTL4L TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number JOSHUA BEISKER 717-233-5731 Firm Name (If Applicable) RHOADS & SINON LLP First line of address ONE SOUTH MARKET SQUARE Second line of address P- 0. BOX 1146 City or Post Office HARRISBURG State ZIP Code N O REGISTER OF ~~ USE ONLKra , ~ r~ O ~,. . ,,,_ -~ tV r ,- ~ W ~{ ; , ~ _ r ? 7 r ~ ~ _ ?~~ ;~ ~ ~ r.rt : " DATE FlLED PA 17108-1146 correspondent's e-mail address: J B E I S K E R a1 R H O A D S- S I N O N. C O M Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true~grrect and complete. Declaration of preparer other than the personal representative is based on all informatics of which preparer has 8ny knowledge. ~r p ...2~jy ADDRESS C/ORHOADS & SINON LLP, PO BOX 1146 HARRISBURG, PA 17108- 146 SIGNATURE OF OTHER R RES AT DAIT ~/- zc~ - ~~~1 ADD R ADS & SINON LLP, PO BOX 1146 HARRISBURG, PA 17108-~r146 PLEASE USE ORIGINAL FORM ONLY Side 1 15056041158 BM4sa73.DOO 15056041]x58 ~^'11~1 15056042159 REV 1500 FJC Decedent's Social Security Number Decedent's NemelC O H L E R ALICE L RECAPITULATION 1. Real estate (Schedule A) .... 1. 110 0 0 0.0 0 2. Stocks and Bonds (Schedule B) . 2. 12 4 8.7 8 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) • 3. 0 • 0 0 4. Mortgages & Notes Receivable (Schedule D). .. .. .. . 4. 0 , 0 ~ 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) . . 5. 3 0112 • 0 3 6. Jointly Owned Property (Schedule F) ~ Separate Billing Requested .. . 6. ~ , ~ ~ 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) ~ Separate Billing Requested . 7. 460157.42 8. Total Gross Assets (total Lines 1-7). • s. 6 01518.2 3 9. Funeral Expenses & AdminisVative Costs (Schedule H) ... 9. 2 8 7 9 5.9 4 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I). .. .. 10. 7 5 9 8 7.0 2 11. Total Deductions (total Lines 9 & 10) . 11. 10 4 7 8 2.9 6 12. Net Value of Estate (Line 8 minus Line 11) 12. 4 9 6 7 3 5.2 7 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) . .. .. .. 13. ~ • 0 ~ 14. Net Value Subject to Tax (Line 12 minus Line 13) .. .. .. 1 a. 4 9 6 7 3 5 • 2 7 TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 16. Amount of Line 14 taxable at lineal ratex.o4.5 496735.27 16. 22353.09 17. Amount of Line 14 taxable at sibling rate X .12 ~, ~ ~ 17. ~, ~ ~ 18. Amount of Line 14 taxable at collateral rate X .15 ~, 0 ~ 18. ~, ~ 0 19. TAX DUE ................................... 1s. 22353.09 20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT Side 2 15056042159 6M46482.000 15056042159 REV-1500 EX Page 3 Flk Number r Decedents Com late Address: ~ y u d u y u b 5 DECEDENTS NAME STREETADDRESS CRY Y STATE ZIP Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payments A. Spousal Poverty Credit 0 • 0 0 B. Prior Payments 0.0 0 C. Discount 0.0 0 3. InteresUPenalty if applicable D. Interest 3 8 8. 9 2 E. Penalty 0 • 0 0 (1) _ 22353.09 Total Credits (A + B + C) (2) 0 • 0 0 Total InteresVPenaRy (D + E) (3) 3 8 8 •9 2 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in box on Page 2, Line 20 to request a refund. (4) ^ . 0 0 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAx DUE. (5) 2 2 7 4 2 • 01 A. Enter the interest on the tax due. (5A) 0 • 0 0 B. Enter the total of Line 5 + 5A This is the BALANCE DUE. (5B) 2 2 7 4 2.01 Make Check Payable to: /~GISTER OF WILLS, AGENT ~~ . :.. ~~=~'~ _ PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: ~ 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; ........ X c. retain a reversionary interest; or .................................. ^ x d. receive the promise for I'rfe 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? . .. .. " " x or payable upon death bank account or security at his or her death? . 3. Did decedent own an in trust for 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which ^ Q contains a beneficiary designation? ... .. ..... .. ... .. ......... ... . IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE R AS PART OF THE RETURN. •~G~~,r'* _ 'Y Y T. ',q~'e~ y. r~-x ~jk a ~~ f•'r~ 3~t ar'* 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 fa 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 use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. 8M4871 1.000 REV-1502 EX + (11-OB) Pennsylvania IIEPARTNENi OF REVENUE R~TANCE TAX RETURN RESDENiDECEDENT SCHEDULE A REAL ESTATE ESTATE OF FILE NUMBER Alice L Kohler 2108 01065 All roal property owned solely or as a bnant 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. Reai property that is joiMyowned with right of survivorship must bs disclosed on Schedule R awasas 2.00o If more space is needed, insert additional sheets of the same size. REV-1503 EX+ (6.98) SCHEDULE B COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS INHERITANCE TAX RETURN RESIDENT DECEDENT Alice L Kohler 21 08 01065 All property jointly-owned with right of survivorship must be disclosed on Schedule F. 3W4696 1.000 (If more space is needed, insert additional sheets Of the same size) REV-1508 EX + (6.98) SCHEDULE E COMuIONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, 8c MISC. INHERITANCE TAX RETURN RESIDENT DECEDENT PERSONAL PROPERTY ESTATE OF FILE NUMBER Alice L. Kohler 21 08 01065 Include the proceeds of litigation and the date the proceeds were received by the estate. M oroosrty lointlvowned with the rioht of survhrorshla must be disclosed on Schedule F. ITEM I VALUE AT DATE NUMBER r~croiorinr.~ OF DEATH 1 2007 Buick LaCross automobile 12,915.00 2 M&T Bank Cking Acct. #52232395 11,383.47 Interest accrued to 10/16/2008 0.31 3 HSBC, credit card refund 13.27 4 Household and personal articles 4,146.00 Valued per attached appraisal. 5 Homestead Travel, refund 400.00 6 Refund, Citibank 15.98 7 Penn National Insurance, refund, auto insurance 28.00 8 IIS Treasury, refund, decedent's final 1040 (2008) 1,200.00 9 PA Department of Revenue, refund, decedent's final PA40 (2008) 10.00 TOTAL (Also enter on line 5. Recapftulation) $ ~ 30,112 .03 3W48AD 1.000 (If more space is needed, insert additional sheets ofthe same size) REV-1510 EX ~ (69t)) C.OhMONWEALTH OF PENNSYLVANIA INHERffANCE TAX RETURN RESIDENTDECEDENT SCHEDULE G INTER-VIVOS TRANSFERS ~ MISC. NON-PROBATE PROPERTY Alice L. Kohler 21 08 01065 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes. ITEM NUMBS DESCRIPTION OF PROPERTY rrau~n~rrw~EOFnf~wusFer~.rr~iRr~unoraHProoeceoEnrnrn ne any of rwv~ nrr~ n CaP+' of THE oEEO FOR tea. EsrnrE. DATE OF DEATH VALUE OF ASSET %OFDECD'S INTEREST EXCLUSION nPPUCnsLE TAXABLE VALUE 1• Decedent entered into The Alice L. Kohler Revocable Trust uader Agreement dated March 8, 2001, uader which agreement she was the Settlor and the Trustee. The Trust assets at decedent's death included investments in a Wachovia Securities account and her residence at 441 South Third Street, Lemoyne. A copy of the Trust Agreement and a valuation of trust assets is attached as an exhibit to this return. 460,157.42 100.0000 0.00 460,157.42 TOTAL (Also enter on line 7, Regpitulation) I $ 460,157.42 (If more space is needed, insert additional sheets of the same size) 3W48AF 1.000 REV-1511 EX+(10.08) COMMONWEALTH OF PENNSYLVANIA INHERRANCE TAX RETURN RESIDFJJT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER si;~9 L Rohler 21 08 01065 Debts of decedent must be reported on Schedule 1. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: ~ Marlin 8. Rohler Reimbursement for payment to Rolling Green Cemetery 1,345.00 Total from continuation schedules . B. 1 ADM9VISTRATNE COSTS: Personal Representative's Commissions Name of Personal Representative(s) Street Address CItV Year(s) Commission Paid: Zip 2. Attorney Fees 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Marlin $. Kohler Street Address 441 South Third Street City Lemoyne State PA Zip 17043 Relationship of Claimant to Decedent SON 4. Probate Fees 5. Accountant's Fees 6. Tax Retum Preparer's Fees 7. 1 Rhoads & Sinon LLP Reimbursement, out-of-pocket expenses 2 IIGI, service to Lemoyne house Total from continuation schedules . 7W46AG 1.000 State TOTAL (Also enter on line 9, R. (If more space is needed, insert additional sheets aF the same size) 6,634.47 14,000.00 3,500.00 353.00 400.00 328.09 2,235.38 28.795.94 l3state of: Alice L. Kohler Schedule H Part 1 (Page 2) Item No. Description 21 08 01065 Amount 2 Musselman Fuaeral Home, funeral and burial expenses 6,634.47 Total (Carry forward to main schedule) 6,634.47 8state of: Alice L. Kohler 21 08 01065 Schedule H Part 7 (Page 2) 3 RSR Appraisers & Analysts, appraisals of Lemoyne and Perry County houses 750.00 4 oPolfgang Appliance Service, repair at Parry County house 339.10 5 Martin Van Coevering, CPA, preparation of decedent's final income tax returns 475.00 6 Jim VPilliams Painting at New Bloomfield property 75.00 7 PP&L, service to Lemoyne house 15.17 8 Cumberland County Recorder of Deeds, recording deed to Lemoyne house 52.50 9 Hobbie Auctions, appraisal of household and personal articles 250.00 10 The Patriot News, advertising grant of Letters Testamentary 203.61 it Cumberland County Legal Journal, advertising grant of Letters Testamentary 75.00 Total (Carry forward to main schedule) 2,235.38 REV-1512 EX+02.08) Pennsylvania SCHEDULE DEPARTMB~fiOF REVENUE DEBTS OF DECEDENT, a~EwrnNCErnxREruRN MORTGAGE LIABILITIES 8~ LIENS RESDB~(i DECEDENT ESTATE OF FILE NUMBER Alice L. Kohler 21 08 01065 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• PA Department of Reveaue Tax due, 2008 PA40 460.00 2 IIGI, service to Lemoyne house 301.72 3 M&T Bank, checks clearing after death 103.69 4 Citibank Credit Card 941.36 5 PAWC, service to Lemoyne house 30.42 6 PP&L, service to Lemoyne house 27.84 7 CitiMortgage Mortgage oa 7420 Spring Road, New Bloomfield, PA 71,651.39 8 Card Services, balance due 49.00 9 Faith A. Nicola, tax collector, 2008 school taxes for Lemoyne house 2,136.92 10 TMobile, balance due 21.68 11 Borough of Lemoyne, service at residence 232.00 12 PA Department of Reveaue Tax due, amended PA 40 -31.00 TOTAL (Also enter on Line 10, Re ewasnH 2.000 If more space is needed, insert additional sheets of the same size. REV-1513EX+(11-08) SCHEDULE J Pennsylvania DEPARTMENiOF REVENUE BENEFICIARIES INHERRANCETAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Alice L. Kohler 21 8 01065 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECENING PROPERTY Do Not List Trustee(s) OF ESTATE TAXABLE DISTRIBUTIONS [ndude outright spousal distributions, and transfers under Sec. 2116 (a) (1.2).] 1. Kimberly Ann Greene 46 Riag Street Stanford, CT 06902 Cash bequest under Article III (B) of Trust 10,000.00 Granddaughter 10,000.00 2 Reith Anthony Kohler 452 Rock Street Portsmouth, NS 03801 Cash bequest under Article III (A) of Trust 10,000.00 Graadson 10,000.00 ENTER•DOLLARAMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 1 8 OF REV-1500 COVER SHEET, AS APP ROPRIATE. II NON-TAXABLE DISTRIBUTIONS: A SPOUSAL DISTRIBlJT10NS UNDER SECTION 2113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN 1. B. CHARfTABLE AND GOVERNMENTAL DISTRIBUTIONS 1. TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. S 0.0 0 awasni 2.000 If more space is needed, insert additional sheets of the same size. 8state of: Alice L. Rohler Schedule J Part 1 (Page 2) Item No. Description 3 Marlin Edward Rohler Residence, Lemoyne, PA: 175,000.00, Article III (C) of Trust 2007 Suick LaCross automobile Inventory Value: 12,915.00 Household and personal articles Inventory Value: 2,073.00 4 Reith Driakwater Rohler 7420 Spring Road New Bloomfield, PA 17068 Household and personal articles Inventory Value: 2,073.00 Real property, 7420 Spring Road, New Bloomfield, PA, more particularly described is Deed dated 1/30/03, and recorded at Perry County Instrument #200301189 Inventory Value: 110,000.00 5 The Alice L. Rohler Trust c/oKeith Rohler 7420 Spring Road New Bloomfield, PA 17068 100 of Residue to The Alice L. Rohler Trust c/oReith Rohler 7420 Spring Road New Bloomfield, PA 17068: 174,674.27 Soa Son Trust Relation 21 08 01065 Amount 189,988.00 112,073.00 174,674.27 ESTATE OF ALICE L. KOHLER SSN: 188-12-3124 DOD: 10/16/2008 PENNSYLVANIA INHERITANCE TAX RETURN INDEX TO EXHIBITS 1. 2. 3. 4. Document Last Will and Testament and Codicil Return Reference 5. Appraisal of 7420 Spring Road, New Bloomfield, PA Appraisal of household and personal articles Copy, The Alice L. Kohler Revocable Trust and Amendment Schedule of Trust assets, including appraisal of residence Page 1, Part 1, line 6 Schedule A Schedule E, Item 4 Schedule G Page 1, Part 1, line 7 Schedule G 752089 LAST WILL AND TESTAMENT OF ALICE L. KCH~ER I, ALICE L. KOHLER, of Lemo~~?ze, CumberlGnd ~:=a~~LL,, Pennsylvania, being of sound and dispcs~ng mind ar_d re:~.or~,°, ca ma::e, publish and declare this ~o be my Last Wi_11 anc `-es ~~_nent, he_ eby revoking all Wi11s and Codicils by me at ar.y -:i:-e previous.y made. '_~1y husband, Marlin E. Kohler, predeceased r_e ar.~ t~_e ch~lc.ren borr_ of our marriage are Marl-: r_ Edward r'c~~1Ex ar_ ~ Keith DrinkwGter Kol-iler. 1. ~'ANGIBLE ?ERSGNAL PRUPER~'Y. I git%e and :ae:c.edth all of m~~ house:~old furni pure ar_d furnishings, a~.~tamc'o::_1_-, books, pictures, jewelry, china, crystal, appl_ances, sil~~erw:~re, wearing apparel.., articles of household or personal use or adcr:~:me~:t, collections, artworks, boats and rer.reational equipmE r: !_ a.-:^ vehicles, together with all policies cf insurance th~-r~~o:~, to my sons, MAP.LIN ED"vlARD KOHLE? and KEITH LRINKi~ATER KCHLE:R; i- 'giving at my death in as nearly equal shares as they shall .e:e~-_ under the supervision of my Executor. Any co:t of packing a__d s':-ipping said personalty to the ber_eficiaries, including ir.su~-a:~:ce, shall be paid. by my E~~ecutor as a general administration cos-e. If any Page 1 of 7 Pages 3" 8290.1 such articles cannot be fairly divided or distributed in kind in the opinion of my Executor, such articles shall be sold and the proceeds thereof shall pass as a part of my residuary estate. 2. BEQUEST OF RESIDENCE. I give, devise and bequeath all of my right, title and interest in my real property known and numbered as •441 South Third Street, Lemoyne, Cumberland County, Pennsylvania, to my son, MARLIN EDWARD KOHLER, if he survives me. If he does not survive me, this bequest shall become null and void. 3. RESIDUE. I give, devise and bequeath all the rest and residue of my property, real, personal and mixed, not disposed of in the preceding portions of this Will, including all property over which I hold a power of appointment (which powers of appointment I hereby exercise in favor of my estate}, to the then Trustee of "The Alice L. Kohler Revocable Living Trust" created by my declaration of trust dated the same date as this Will. 4. SPENDTHRIFT PROVISION. No interest in income or principal of my estate shall be subject to attachment, levy or seizure by any creditor, spouse, assignee or trustee or receiver in bankruptcy of any beneficiary of my estate prior to the beneficiary's actual receipt thereof. My Executor shall pay over the net income and the principal to the beneficiaries herein designated, as their interests may appear, without regard to any Page 2 of 7 Pages attempted anticipation (except as may be specific:ally provided herein), pledging or assignment by any beneficiary of my estate and without regard to any claim thereto or attempted levy, attachment, seizure or other process against said beneficiary. 5. SURVIVAL PRESUMPTIONS. Any person who shall have died at the same time as I or under such circumstances that it is difficult or impossible to determine who shall have died first, shall be deemed to have predeceased me. 6. FIDUCIARY POWERS. In the settlement of my estate, my Executor shall possess, among others, the following powers, exercisable without prior court approval, but in all cases to be exercised for the best interests of the beneficiaries: (a) To retain any investments I may have at my death so long as my Executor may deem it advisable to my estate so to do, including securities owned, issued or underwritten by any corporate Executor or aray of its affiliates. (b) To vary investments, when deemed desirable by the Trustee, and to invest in every kind of property and type of investment, including securities owned, issued or underwritten by any corporate Trustee or any of its affiliatesr or as to which such Trustee or its affiliate acts as investment advisor, as the Trustee shall deem wise. (c) In order to effect a division of the principal of my estate or for any other purpose, including any final distribution of my estate, my Executor is authorized to make said divisions or distributions of the personalty and realty partly or wholly in kind. If such division or distribution is made in kind, said assets shall be divided or distributed at their Page 3 of 7 Pages respective values on the date or dates of their d~ or distribution. In making any division or distr. in kind, my Executor shall divide or distribute s~ assets in a manner which will fairly allocate any unrealized appreciation among the beneficiaries. (d) To sell either at public or private sale upon such terms and conditions as my Executor may advantageous to my estate, any or all real or personal estate or interest therein owned by my estate severally or in conjunction with other persons or acquired after my death by my Executor, and to consummate said sale or sales by sufficient deeds or other instruments to the purchaser or purchasers, conveying a fee simple title, free and clear of all trust and without obligation or liability of the purchaser or purchasers to see to the application of the purchase money or to make inquiry into the validity of said sale or sales; also, to make, execute, acknowledge and deliver any and all deeds, assignments, options or other writings which may be necessary or desirable in carrying out any of the powers conferred upon my Executor in this paragraph or elsewhere in this Will. (e) To mortgage real estate and to make leases of real estate for any term. (f) To borrow money from any party, including my Executor, to pay indebtedness of mine or of rry estate, expenses of administration, Death Taxes or other taxes. (g) To pay all costs, expenses, legally enforceable debts, funeral expenses and charges in connection with the administration of my estate. (h) To vote any shares of stock which form a part of my estate or trust and to otherwise exercise all the powers incident to the ownership of such stock and to actively manage and operate any incorporated or unincorporated business, including any joint ventuzes and partnerships, and to incorporate any such. unincorporated business, with all the rights and powers of any owner thereof. {i) In the discretion of my Executor to unite with Page 4 of 7 Pages ____.. any other owners of similar property in carrying plans for the reorganization of any corporation company whose securities form a part of my estat (j) To assign to and hold in my estate an undivided portion of any asset. (k) To hold investments in the name of a n (1) To compromise controversies. (m) To disclaim, in whole or in part, any interests in property owned by me at the time of death, including those passing to me by Will, intestacy, contract, joint ownership, operation of law or otherwise. (n) To employ and compensate from income or principal, in the discretion of my Executor, investment and legal counsel, accountants, brokers and other specialists, and, whenever there shall be no corporate Executor in office, a corporate custodian, and to delegate to investment counsel discretion with respect to the investment and reinvestment of any or all of the assets held hereunder. 7. EXCULPATORY CLAUSES. In the settlement of my estate: (a) My Executor shall not be personally liable for any loss to my estate or to any beneficiary of my estate resulting from an election made in good faith to claim a deduction as an income tax deduction or as an estate tax deduction. (b) In valuing property in my gross estate for the purposes of any Death Tax, my Executor shall not be personally liable for any loss to my estate cr to any beneficiary of my estate resulting from my Executor's decision made in good faith to use a particular valuation date. 8. TAX CLAUSE. Except to the extent paid by the Trust Page 5 of 7 Pages described in ITEM 3 hereof, all inheritance, estate and`smla,,- _: taxes becoming due by reason of my death, except any taxes relating to generation skipping transfers imposed under Chapter 13 of Subtitle B of the Internal Revenue Code, as amended ("Death Taxes"), whether such Death Taxes shall be payable by my estate or by any recipient of any property, shall be paid by my Executor out of the property passing under ITEM 3 of this Will as an expense and cost of administration of my estate. My Executor shall have no duty or obligation to obtain reimbursement for any Death Taxes paid by my Executor, even though paid with respect to proceeds of insurance or other property not passing under this Will. 9. EXECUTOR APPOINTMENT. I hereby appoint my son, MARLIN EDWARD KOHLER, and THE PRUDENTIAL SAVINGS BANK, F.S.B., or its designee, as Co-Executors. If for any reason either should fail or cease to act, the other shall act or continue to act with all the powers granted to the two of them. All references in this Will to my "Executor" shall refer to my originally named Co- Executors, or to my successor Executor, as the case may be. 10. WAIVER OF BOND; FIDUCIARY FEES. The Custodian and my Executor shall qualify and serve without the duty or obligation of filing any bond or other security. Any corporate fiduciary Page 6 of 7 Pages shall ne entitlea to compens on for services in a.cco the standard schedule of fees in effect when the services are rendered. IN WITNESS WHEREOF, I have set my hand arld seal to this, my Last Will and Testament, consisting of this and the preceding six (6) pages, this ~ day of '~/J/Jq~+,~ 2001. ~~.~?~ ~ • /~9"J' ( SEAL ) Alice L. Kohler We, the undersigned, hereby certify that the foregoing Will was signed, sealed, published and declared by the above-named Testatrix as and for her Last Will and Testament, in the presence of us, who, at her request and in her presence and in the presence of each other, have hereunto set our hands and seals the day and year above written, and we certify that at the time of the execution thereof, the said Testatrix was of sound and disposing ( SEAL ) (SEAL) Residing at l Residing at : ii( ~; dden wood Dr. , Nd r r ~'s b u r~ , "r~~ Page 7 of 7 Pages COUNTY OF ~`'"`Q~`"~ We, ALICE L. KOHLER, .,~ vn; and t~ ~~ ~-~~_; ~(,~~,ti the Testatrix and the Witnesses, respectively, whose names are signed to the foregoing instrument, having been sworn, do hereby declare to the undersigned officer that the Testatrix, in the presence of the Witnesses, signed said instrument as her Last Will and Testament, that she signed voluntarily, that each of the witnesses, in the presence of the Testatrix and of each other, signed said Will as a witness and that to the best of the knowledge of each witness, the Testatrix was at the time of sound mind and under no constraint or undue influence. Subscribed and acknowledged before me by ALICE L. KOHLER, the Testatrix, and subscribed and sworn to before me by ~-~~-~~~+ ~ . 5M ~ ~~ and ~ - ~ . ~'`~c ~ ~.t ~, ~ ~. the witnesses, on this ~~~ day of ~'fl.G.x~fti_~ 2001. .• Notary blic My Commission Expires: 208778.1 (SEAL ) Ngtatiai Seal Cindy I;. L.r~itzel, Noffiry Public Harrisburg, Dauphin County My Commi55ion Fires Dec. 2, 2002 Tlernh2r. ?annsv!Ivania Association of i~otaries ~~~~~~_~~ ~ ~~ .qrt ~~ --jy „kfr,~x-,max i, ,I __+i?S~" ~~~ ..r ~ ,.. - _ __ _ _. CODICIL, TO THE LAST W1LL AI~rD TEST.~]VIENT OF ALICE L. KOHLER I, ALICE L. KOHLER, of Lemoyne, Cumberland County, Pennsylvania, being of sound and disposing mind and memory, do make, publish and declare this to be a Codicil to my Last Will and Testament dated March 8, ?001. 1. I hereby add a new ITEM 2A (between existing ITEMS 2 and 3) to my Last Will and Testament, as follows: ?A, BEQUEST OF PROPERTY. I gi~Te, devise and bequeath all of my right, title and interest in my real property located in New Bloomf eld, Perry County, Pennsylvania, to my son, KEITH DRL'~'KWATER KOHLER, if he survives me, free and clear of all mortgage encumbrances, any such mortgages to be paid by my Executor as a debt of my Estate. If Keith does not survive me, this bequest shall become null and void. 2. I hereby revoke ITEM 9 of my Last Will and Testament and in lieu thereof provide the following new ITEM 9. 9. EXECUTOR APPOINTMENT. I hereby appoint my sons, MARLIN EDWARD KOHLER and KEITH DRINKWATER KOHLER as Co-Executors. If for Page 1 of 2 Pages 537625.1 any reason either of them should fail or cease to act, the other shall act or continue to act with the powers granted to the two of them. All references in this Will to my "Executor" shall refer to my originally named Co-Executors, or to my sole surviving Executor, as the case maybe. IN WITNESS WHEREOF, I have hereunto set my hand and seal to this Codicil to my Last Will and Testament, consisting of this page and the preceding one (1) page, this/~ dray of ~~~j~~, 2004. ~~~%~ ~7~ ~~~~',~iisEAL) Alice L. Kohler We, the undersigned, hereby certify that the foregoing Codicil was signed, sealed, published and declared by the above-named Testatrix as and for a Codicil to her Last Will and Testament, in the presence of us, who at her request and in her presence and in the presence of each other, have hereunto set our hands and seals the day and year above written, and we certify that at the time ecutio thereof, the said Testatrix was of sound and disposing mind and memory. (SEAL) Residing at: ~ ~~ ~ t~-~ (SEAL) Residing at: /vZl ~-~-~,~ y~ Page 2 of 2 Pages COMMONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN SS: We, ALICE L. KOHLER, Testatrix, ~r:,-,1c_/ A- ~ ~~.~ and ~~~ ~ d '~. Kr~-~ the Testatrix and the Witnesses, respectively, whose names are signed to the foregoing instrument, having been sworn, do hereby declare to the undersigned officer that the Testatrix, iri the presence of the Witnesses, signed said instrument as a Codicil to her Last Will and Testament, that she signed voluntarily, that each of the witnesses, in the presence of the Testatrix and of each other, signed said Codicil as a witness and that to the best of the lrnowledge of each witness, the Testatrix was at the time of sound mind and under no constraint or undue influence. ~~ iuiv~~ fitness Subscribed and aclaiowledged before me by ALICE L. KOHI~ER, the Testatrix, and subscribed and sworn to before me by ~cn ~c-..f ~ 5~~--tom- and ~G~c ~`c~ ~. K~~=, ~e witnesses, on this l2 .day of ~ o~l~ ~~ ~- , 2004. Notary Pub My Commission Expires: (SEAL) COMMO E TH OF PENNSYLVANIA Notarial Seal Cinly L. itzel, Notary Public City of burg, Dauphin County My ommiss on 'Expires Dec. 2, 2006 Member, Psnnsylvanie A.=axi~on of Notaries APPRAISAL OF REAL PROPERTY LOCATED AT: 7420 Spring Rd Book 2003 Page 1189 New Bk>omfield, PA 17068-9326 FOR: Estate of Alice L. Kohler 441 S. 3rd Street Lemoyne, PA 17043 AS OF: 10/16/2008 BY: William Gregory Rothman PA Certified General RE Appraiser Real Estate Appraisals (717) 315-7032 Form GA2 -'WinTOTAL' appraisal software try a la mode, inc. -1 •B00-ALAMODE R November 19, 2008 Yvonne R. Durham Rhoads & Sinon LLP One South Market Square Harrisburg, PA 17108 RE: Estate of Alice L. Kohler 7420 Spring Road New Bloomfield, PA 17068 Dear Ms. Durham: Pursuant to your request, We have prepared a Summary Appraisal Report for the property captioned in the "Summary of Salient Features" which follbws. The accompanying report is based on a site inspection of improvements, investigation of the subject neighborhood area of influence, and review of sales, cost and income data for similar properties. This appraisal has been made with particular attention paid to the applicable value influencing economic conditions and has been processed in accordance with nationally recognized appraisal guidelines. The retrospective market value conclusion stated herein is as of the date of death of Alice L. Kohler, on October 16, 2008; as stated in the body of the appraisal and contingent upon the certifications and limiting conditions attached. The date of inspection was November 11, 2008. Please contact me, if I can be of additional service to you. Respectfully, William Gregory Rothman PA Certified General Real Estate Appraiser Form DCVR - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE SUMMARY OF SALIENT FEATURES Subject Address 7420 Spring Rd Legal Description Book 2003 Page 1189 City New Bloomfield County Perry Slate PA Zip Code 1706&9326 Census Tracl 0305.01 Map Reference 25420 Sale Price $ N/A Date of Sale N/A Borrower N/A Lender/Clierd Estate of Alice L. Kohler She (Squan: Feet) 1,155 Pdce per Square Foot S Location rural Age 68 Condition fair /average Tohal Rooms 6 Bedrooms 3 Batirs 1 Appraiser William Gregory Rothman PA Certified General RE Appraiser Date of Appraised Value 10/16/2008 Opinion of Value $ 110,000 Form SSD2 -'WinTOTAL' appraisal software by a h mode, inc. -1-B00•ALAMODE Subject Front 7420 Spring Rd Sales Price NIA Gross living Area 1,155 Total Rooms 6 Total Bedrooms 3 Total Bathrooms 1 Localign rural Yew typical for the neighborhood Site .95 acre Quality average Age 68 Subject Rear Subject Street Forrn PICPUCSR -'WinTOTAL" appraisal software by a la mode, inc. -1-800•ALAMODE Real Estate Appraisals (717) 315.7032 n.,....wrr.,..~w~ JNIFDRM RESIDENTIAL A~Ia.L REPORT Flh Nn_ OA 111101 MA Pro Address 7420 S ri Rd C New Bloomfield State PA L Code 1706&9326 ai Descri lion Book 2003 Pa a 1189 Cou Pe Assessor's Parcel No. 04011500007000 Taz Year 07-08 R.E. Taxes 1 438.48 S ecial Asse smems NIA Borrower N/A Cumerd Owrler Estate of Alice L. Kohler Occ ant Owner Tenant Vacant Pro e rf hts a raised Fee Sim ~ Leasehokl Pro'ect T e PUD Condom nium HUDNA on HOA 3 N/A e. Nei hborhood or Pro' ct Name Carroll Townshi Ma Reference 25420 Census Tract 0305.01 Sale Price N/A Date of Sale N!A e ' ' n nd loan cha one Sion b d I r N/A Lender )Tent Estate of Alice L. Kohler Address 441 S. 3rd Stree Lemo a PA 17043 raiser William Gre o Rothman PA Certfied Gf Address 3 Lemo a Drive Sufte 100 Le o e PA 17043 Location Urban Suburban Rural Buig up ^ Over 75% ®25-75% ^ Under 25% Growth rate ^ Rapid ®Stable ^ Slow Predominard °~' ®Owner 90 ~k hmity hws' g~000) (yrs 90 Low new PtYSerd lend use % One famiy 68 2-4 family 5 Land use change ®Not fikety ^ Likery ^ In process Property values ^ Increasing ®5table ^ Declining ^ Tenant 2D0 Hi h 100+ Multl-family 3 To: Oemand/suppy ^ Shortage ®In halance ^ Over supply ®vacant (0.5%) - =- Predominant ~ Commercial 11 Marketi time Under 3 mos. 3-6 mos. Ovw 6 mos. v r 135 30-35 Other 13 Note: Race and the raelal corapositlon of the nstphhorbood are not appraisal factors. Neighborhood boundaries and characteristics: See attached location map. Carroll Townshi Factors that affect the markehubility of the properties in ffie neighborhood (prordmity to employment and amenities, employment stability, appeal to market, etc.): Private trees ortation is necessa to reach most amenities which is ical of this market lace. The ne' hborhood offers views of a ricuhurel land and mountains to the north and south. Minor sho in restaurents a bank houses of worshi and a st office are boated in New Bbomfield. Ma'or em to ant centers are boated within 15-30 minutes awe which is an acce liable commute in this area. Market conditions in the subject neighborhood Including support far the above conclusions related to the trend of properly values, demand/supply, and marketirq time --such as data on competitive properties for sale in the neighborhood, descdption of the prevalence of sales and financing concessions, etc.): Local market conditions are moderetel stable wRh ro rties usual selli within 120 da 'd ro riced and marketed. Financin acka es are varied with most conventional and VA/FHA with few cash sales sellers are Tool a 'n ints in the 1-3 or more ra e. Mort a e mane is available to credible b rs with rates re in from 6 to 7 ercent. Project Information for PUDs (If applicable) - - Is the devdoperJbuilder in control of the Home Owrrers' Association (HOA)? Yes No Approxmate total number of unfts In the subject project Approximate total numher of uniCs for sale in the subject project Describe common elemerds and recreational facigties: Dimensions See Legal Description in the Deed Topography moderetel sb ed Site area .95 acre Comer Lat ^ Yes ®No Size avers e Specific zoning classification and desedption C -Commercial Shape mostly rectangular Zoning compgance ^ Legal ®Legal nonconforming (Grendfathered use) ^ Illegal ^ No zoning Drsinage a ears ode oats FA u as im d: Presets use Other use lain View ice) for the ne' hborhood Utigtiea Public Other Ott-site ImproventeMa Type Public Private Landscaping mature /avers e Electricity ® Street .paved ® ^ Driveway Surface stone Gas ^ Curb/gulter none / typical ^ ^ Water ^ well 5idewagc none / typical ^ ^ Apparent easements utilities FEMA Special Fbod Hazard Area ^ Yes ®No Sanitary sewer ^ se tic Street lights none /typical ^ ^ FEMA Zone X Map Dafe 9/4/1987 Stone sewer Ag none FE A M No. 42194900108 Comments (apparent adverse easements, encroachments, specal assessments, slide areas, illegal or legal nonconfor ming zoning use, etc.): Standard easements for utilities are resent which do not adverse) affect the site. There are no known or arent adverse easements encroachments or conditions n oted. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Unik 1 Foundation Stone & Conc. Slab urxler livin room Area Sq. Ft 650 Roo( ^ Na. of Stories 1.5 Exterior Walls Vin I Crawl Space none % Flnished 0 Ceiling ^ Type (DeL1Att) Detached Roof Surface Com . 5hi le Basement ap rual Ceiling Wags ^ Design (Style) Ca Cod Gutters & Dwnspts. Aluminum Sump Pump e~ Walls Fbor ^ E>dsting/Proposed Existin Window Type Vin DH Dampness none observed Floor None ^ Age (Yrs.) 68 StomVScreens Tool Settlement due to a e Outside Entry unknown Effective A e rs. 30-35 Manufactured House no Infestation none observed ROOMS Fo er Livin Dini Kitchen Den Famil Rm. Rec. Rm. Bedrooms # Baths Laund Ot her Area S . Ft Basement 650 Level) X area X X 1 1 X 830 Level 2 2 325 Flnished are a above rode contains: 6 Rooms 3 Bedroom s ~ 1 Bath s ~ 1,155 S ware Feet of Gross Livin Area INTERIOR Materials/Condition HEATING IOTCHEN EoUIP. ATTIC AMENITIES CAR STORAGE: Floors c t vin /fair Type BB Refrigerator ^ None ^ Fireplace(s) # 1 coal ® None ^ Walls dw anal / a Fud electric Renge/Oven ® Stairs ^ Patio ^ Garage # of cars TdnVFinish Tool wd. /fair Condition a Disposal ^ Drop Stair ^ Deck ^ Attached Bath Floor vin / a COOLING none Dishwasher ^ Scuttle ® Porch fmt & back ® Detached 2 car (Ig) Bath Wainscot fibs lass / av . Central FaNHood ^ Floor ^ Fence ^ Buift-In Doors Tool / a Other Microwave ^ Heated ^ Pool ^ CarpoR Condition Washer er Flnish~ Ddvewa revel Additional features (special energy efficient items, etc.): typical to the market area. Condition of lire improvemerds, depreciation (physical, functional, and exOemal), repairs needed, quality of construction, remodegng/additians, e[c.: There is no economic or functional obsolescence. There are no Tool leads uacies and no re airs are re it .The ual' of construction is reted as fairlavere e. The roof a ears to be in god condition 2007 with no evidence of leaks on the int rior. The electric was u dated in 1988. Adverse environmental conditions (such as, but not gmited to, hazardous wastes, to>ac substances, etc.) present In the improvements, on the site, or in the immediate vicinity of the Subject property.: There are no known or a Arent adverse environmental co ditions that would n ative im act on the sale of the roe Wells and se t~ s tams are common to the nei hborhood. rreggie mac ronn ru tvas PAGE 1 OF 2 Fannie Mae Form 1004 6J93 Fonn UA2-'WinTOTAL' appraisal software by a is mode, inc.-1-800-At.AMODE v,r,,.x,,,~s.~.~a„~ JNIFORM RESIDENTIAL A~ :A15r-L REPORT a~.u,~ nRn~~~n~nxa ESTIMATED SRE VALUE .............................................. _ $ ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: Dwelling 1,155 Sq. Ft @S = $ 650 Sq. Ft. @S = Commends on Cost Approach (such as, source of cost estimate, stte value, square foot ca~ulafion and for HUD, VA and FmHA, the estimated remaining ecoranuc i'rfe of the property): The Cost Approach will generelhr result in a reliable estimate of value tt the buildi is new or reasonab - new and the im rovements reflect the h' hest and best use of Garege/Carport 5q. Ft @$ = the land. However when Rems of h ical de reciafion must be Total Estimated Cast New ............................._ $ estimated an area of 'ud ement s involved which is sub'ect to Less Physical Functional External error. The Cost roach was not utilzed due to the a e of the Depreciation ~ ~ _$ sub'ect. Depreciated Valueotlmprovements ................................. _$ •As-is° Value of Sfte Improvemerrts ................................... _$ INDICATED VALUE BY COST APPROACH ............................ _$ ITEM SUBJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3 7420 Spring Rd Address New Bloomfield 1100 Timber Toad Ne o PA 17074 632 Denville Road Duncannon PA 17020 200 E. Water Street Landisbu PA 17040 Proxim to Sub'ect 5.54 miles N 2.62 m8es E 9.07 miles W Sales Price N/A 94 500 129 000 139 900 Pric Gross Livin Area $ ~ . 54.75 ~ _. _ 113.16 ~ $ 89.22 ~ Data and/or Verification Source MLS 10165969 ubiic records a ant MLS 10164937 ubiic records a ant MLS 10147969 ubiic records a eM VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + - Ad' st DESCRIPTION : + - $ Ad' st DESCRIPTION + - Ad'usl Sales or Financing Concessions Conv./DOM 59 CIs.Cost/Re air -2 500 FHA/DOM 8 CIs.Cost/Re air -6 608 Conv./DOM 442 ; CIs.Cost/Re air ,37 450 Date Of Sal rme 10/14/2008 7/10/2006 9/22/2008 Location rural rural rural rural easehdd ee Si le Fee Sim le Fee Sim le Fee Sim le Fee Sim le Site .95 acre .97 acre 2.8 acre -6 000 .29 acre +2 000 View icalforthe Wait icalforthe Wei icalforthe ne' icalforthe Wait; Desi n acrd A eel Ca a Cod Ca a Cod Ca Cod Ca a Cod Dual Of Construcfion averse inferior +10 000 averse ~ avere e A 68 32 60 100+ Condition fair /averse a ual su anion -5 000 a ual Above Grade Total ~ Bdnns~ Bettis Total ~Bdrms ~ Baths ~ Total ~Bdnns ~ Baths ~ Total ~Bdnns ~ Bettis Room Count 6 3 1 5 3 2 -3,000 6 3 1 7 4 2 -3 000 Gross Livin Area 1 155 S . Ft 1 726 . Ft ~ -8 560 1 140 S . FL ~ 0 , 1 568 S . Ft. -6 190 Basement 8 Finished Rooms Below Grade partial, unfinished none slab +5,000 none partial, unfinished none partial, unfinished none Functional Utll' avere a avere a avere a avere e Heath Cooli Ebb /none Ebb /none FWAoII none FWAoiI CAC Ene Efficient ttems ical ical ical ical Gars Ca rt 2 car era e 2 car era e 0 sm. barn 0 2 car era e Poroh, Path, Deck, Fre laces etc. Porch, Porch 1 coal Porch +1,000 none +500 Porch +1,000 none +500 Deck +1,500 none +500 Fence Pool etc. 1 car era a -1 500 Net Ad'. 1 + - 2440 + - -16 108 + - -44 140 Adjusted Sales Price ~z~" `' of Co arable 96 940 112 892 ~ S 95 760 Cemm~ts on Sales Compartson (including the subject property's compatibility to ttte neighborhood, etc.); The c sad sales die la dare considered to be the most corn rebie and the best indicators of value for the sub'ect roe .The corn rebles re iven a ual consideration. All corn ambles are of similar des nand util' to the sub'ect roe .These corn ambles set the Fa a of value for the sub'ect roe Gross livin area lot s¢e ar bui were obtained from Cou tax assessment records and ilea ed as accurate. In the event it is determined that an of the information from ubiic records is inaccurate we reserve the ri ht to review and or revise this re rt and contusion of value stated wtthin. Corn arable #2 was ad'usted for condition due to ha ul su rior fluorin hardwood a . conditon . ITEM SUBJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3 Date, Price orb Data No Prior Sales 8/9/2007 No Prior Sales No Prior Sales Source, for pdor sales within the last $85,000 within the last within the last within ear Of a sisal 36 months ubiic record 12 months 12 months Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject 2nd comparebles within one year of the date of appraisal: The sub'ect is not curce under contrail or listed in the o en market. Neither the subject or the corn ambles have transferred within the ast three ors. INDICATED VALUE BY SALES COMPARISON APPROACH .................................................... .......................--. $ 110000 ....... INDCATED VALUE BY INCOME APPROACH rf Ilcable Estimated Market Rent $ N/A . x Gros Rent Mufti liar N/A = $ N/A This appraisal is made °as is' subject to the repairs, alterations, inspections ar conditions listed bebw subject to comple8on per piano & specifications. Conditions of Appraisal: No wawa of this a sisal is iven or im lied. No liabll' is assumed for the structural andlor mechanical elements of the roe Rnal Reconciliation: Due to lack of uan' and ual' of rental data the Income roach was cons' ered to be unreliable and not utilized. Greatest wei ht was iven to the Sales Com orison roach es k reflects the ical actions of bi rs and sellers in the market lace. The purpose of ttris appraisal is to estimate the market value of the real property that is the subject of this report, based on the above condttians and the certification, cordingerd and Gmtting conditions, and market value definttlon that are stated in the attached Freddie Mac Fonn 439/FIVMA form 1004B (Revised 06/93 ). I (WE) ESTIVATE THE MARKET VALUE, AS DEFlNED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 10/16/2008 (WHICH IS THE DATE OF INSPECTWN~lIDti'HE EFFECTIVE DATE OF THIS REPORT) TO BE 16 110.000 APPRALSER: tot Ce ~ I Real Estate Appraiser SUPERVISORY APPRAISER (ONLY IF REQUIRED): mature Signature ~~ ` ~.~ ®Did ^ Did Not Name Mark A. Baron, Asst to PA Certified Gen RE Appraiser Name William C~orv Rothman PA Certified Ger Inspect Properly Rate Report Sinned December Ot. 2008 Date Re ort Si Weil Decemb 01 2008 State CaUficafion # GA001455 State PA State CeNfication # GA00145 STa pq Or State Lkense # State Or State Licerae # State Douro mc~ ruiiu r~ Wyo YAlitL Uh C Fannie Mae Form 1004 6-93 Form UA2 -'WinTDTAL° appraisal software by a la mode, inc. -1-800-AI.AMODE Comparable Ph~a,,l Client Estate of Alice L. Kohler Pro Address 7420 S rin Rd C New Bloomfield Co Pe State PA ZI Code 17068-9326 Lender Estate of Alice L. Kohler Comparable 1 1100 Timber Toad Prox to Subject 5.54 miles N Sales Price 94,500 Gross Living Area 1,726 Total Rooms 5 Total Bedrooms 3 Total Bathrooms 2 Location rural View typical for the neighborhood Site .97 acre Duality inferior Age 32 Comparable 2 632 pelMlle Road Prox b Subject 2.62 miles E Sales Price 129,000 Gross Living Area 1,140 Total Rooms 6 Total6edrooms 3 Total Bathrooms 1 Locatilon rural Uew typicel for the neighborhood Site 2.8 acre Duality average Age 60 Comparable 3 200 E. Water Street Prox m Subject 9.07 miles W Saks Price 139,900 Gross Living Area 1,568 Total Rooms 7 Total Bedrooms 4 Total Bathrooms 2 Location rural Vew typical for the neighborhood Site .29 acre Duality average Age 100+ Fonn PICPIX.CR - NVinTOTAL' appraisal software by a la mode, Inc. -1-800-ALAMDDE UNIFORM RESIDENTIAL APrtt#AISAL REPORT MARKET DATA ANALYSIS e recent sa properties are most srm ar market reaction to those items of significant varia favorable than, the subject property, a minus (-) a favorable than, the subject property, a plus (+) a an proxrmab; to su ,lect a eve e~ consr m ys s. escnpbon me u es a o a lusm~nt, ecbng tion between the sub ect and comparable properfies. fi a significant itMrl in the comparable property is superior to, or man; djustment is made, t~us reducing the indicated value of the sub , fl a!significarrt rtem in the comparable ~ mfenorto, or less djustment is made, thus increasing the indicated value of the su~ect ftEM SUBJECT COMPARABLE N0. 4 CDMPARABLE N©. 5 COMPARABLE N0. 6 7420 Spring Rd Address New Bbomfiek! 204 Maple Lane New Bioomfieki PA 17068 Prmom to Sub'ect x "'~~ ~ `°- > 3.47 miles NW Sales Price NlA ~ 139 900 - _ - Pri Gross Livin Area ~ 77.64 ~ I - ~ ~ _ Data and/or Verification Sources MLS 10166417 ublic records a eM VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + - Ad' st DESCRPTION + - Ad'ust DESCRIPTION ; + - Ad' st Sales or Rnancing Concessions Conv./DOM 3 CIs.CosURe air -5 800 Date of Sal ime ~. 8/1/2008 Location rural rural Leasehold Si a Fee Sim le Fee Sim le its .95 acre .31 acre +2 000 Yew ical for the ne' ipl for the nei ; Desi n and eai Ca a Cod Ca a Cod Dual' of Construction averse avers e A e 68 60 Conditlon fair /averse a ual Above Grade Total ~Bdmu~ Batiu Total ~Bdnns~ Batirs ~ Total ~Bdnns: BaGGS ; Total ~Bdrrns~ Batlls Room Courd 6 3 1 8 4 2 -3,000 ross Lfvin Area 1 155 S . F[ 1 802 S . Ft. ~ -9 700 . F[ ~ 5 . Ft. Basement & Rnished Rooms Below Grade partial, unfinished none equal,unfinished none Functional Utll averse avers e H oofin Ebb /none FWAoiI CAC -3 000 Ene Efficient Items ical ipl Gera Ca ort 2 car era e 1 car era a +2 500 Porch, Patio, Deck, R laces etc. Porch, Porch 1 coal none +2,500 1 fire lace -1 000 Fence Pool etc. Net Ad'. tal + -15 500 + + - Adjusted Sales Price of Com arable 124 400 -~ fi,~ ,f,Jet~ ° '(irDSS%~ew, Date, Price and Data Source for prior sales within ear of a sisal No Prior Sales within the last 36 months No Prior Sales within the last 12 months Commems: Market Data Anatysis 6-93 Fonn UA2.(AC) -'WinTOTAL' appraisal software by a la mode, inc. -1-8D0-ALAMODE Comparable Pho~a,~.. ;lient Estate of Alice L. Kohler 'roDeRv Address 7420 Spring Rd ;fty New Bloomfield County Perry State PA Zio Code 17066-9326 .ender Estate of Alice L. Kohler Comparable 4 204 Maple Lane Prox to Subject 3.47 miles NW Sales Price 139,900 Gross,L'nnng Area 1,802 To~IBooms e Total Bedrooms 4 Total Bathrooms 2 Location rural dew typical for the neighborhood Sfte .31 acre Qualtty average Age 60 Comparable 5 Prox to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Vew Site Quality, Ape Comparable 6 Prox t0 Subject Sales Price Gross Living Area Total Roams Total Bedrooms Total Bathrooms Location Vew Site Quality Age Fonn PICPDCCR -'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE Suloolemental Adden~ ~;;" ~~~ Clienf Estate of Alice L. Kohler Pro Address 7420 S ri Rd C New Bloomfield Cou Pe State PA Zi Code 17068-9326 Lender Estate of Alice L. Kohler • URAR :Adverse Environmental Conditions There are no known or apparent adverse environmental conditions that would negatively impact on the sale of the property. The appraiser has not been informed, nor has the appraiser any knowledge of the existence of any environmental or health impediment, which if known, could have a negative impact on the market value of the subject property. The valuation contained herein is not validrf any hazardous items are found in the subject property and stated within the appraisal report, including but not limited to: Ureaformaldehydeioam insulation, Radon Gas, Asbestos Products, Lead or Lead Based Products, Toxic Contaminants. • URAR :Adverse Environmental Conditions The subject is of an age where lead based paint may be present. The market does not penalize the property, however, the client should be advised of its possible e>astence. It is assumed that lead based paint is not present. If the client has a concern then a qualified expert in this field should be contacted to inspect the subject property. • URAR :Sales Comparison Analysis - Summary of Sales Comparison Approach Gross living area and tax assessment information for comparebies was obtained from County Tax Assessment Records. All sales are considered to be reliable indicators of value, and are weighted similarly in the finial reconciliation. Appropriate adjustments have been made for all differences. Comparable sales are all closed sales. It is noted that the sales chosen are considered to be the best available. All comparable sales are loceted in the same market area as the subject property and would be considered by the same perspective purchaser. SCOPE OF WORK: Observation of the exterior and walk through observation of the interior of the property. Measuring the exterior of the dwelling. Review of the County Public Record data and Multi-List, Inc. records. Review the county,tax map online information, county tax map, zoning, and FEMA flood maps. Verifying, the comparable sales with broker, agent, seller or buyer. There was no indication of a bedroom premium beyond the GLA adjustments. URAR :Digital Signatures The digital signature used on this report is an exact replica of the appraiser's actual signature. The digital signature has not been altered and is downloaded from the program by the appraiser. The digital signature,is password protected to avoid improper usage. The digital signature should be considered equal to an original signature of the appraiser. Some adjustments exceed market guidelines but were deemed necessary to provide a reliable indication of value for the subject in its as-is condition. Note: It was necessary for the appraiser to widen the market search to obtain comparabl$s with similar utility, style, effective age, and sales dates reflective of current market conditions. Based on appraisal practice iwith emphasis placed on weighting the elements of comparison, the sales chosen represent the best indication of the subject',current market value. In the appraisers opinion, the sales chosen best weigh the elements of comparison, and while the distance from the subject property is important, various factors within the elements of comparison require a wider than one mule radius search. Note: Mark Baron was the assistant to the PA State Certified General Appraiser and assisted with this report and rendered sign~cent assistance in all aspects of its preparation and inspection. DEFINITION OF MARKET VALUE The definition of Market Value "is from regulations published by federal regulatory agencie~5 pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 19190, end August 24, 1990, by The Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Dejposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in thQ Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. SPECIAL LIMITING CONDITIONS: This appraisal is not a home inspection and the appraisers' are not acting as home inspector's when preparing the report. The borrower has the right to have the home inspected by a professional home inspector. Whin performing the inspection of this property, the appraisers visually observed areas that were readily accessible. The appraiseers an; not required to disturb or move anything that obstructs access or visibility. The Inspection is not technically exhaust)ve. The inspection does not offer warranties or guarantees of any kind. The appraisers are not home or environmental inspector's. The appraisers provide an opinion of value. The appraisal does not guarantee that the property is free of defects or environmental problems. The appraisers gerfomts an inspection of visible and accessible areas only. Mold may be present in areas the appraisers cannot see. A professional home inspection or environmental inspection is recommended should the client have a concern. If the property is sold, this appraisal is subject to satisfactory inspection reports including, but not limited to: wood infestation, redon, building inspections, etc. Form TADD - °WInTOTAL° appraisal software by a la mode, inc. -1-800-ALAMODE Supplemental Certifications: I certify that, This SUMMARY APPRAISAL REPORT was prepared by William Gregory Atothman, assisted by Mark A. Baron, Assistant to the PA Certified General Real Estate Appraiser for the exclusive use of (intended user/client). The intended use of this appraisal report is for estate settlement purposes. Estimated market value is the most probable price in terms of cash or in terms of financial arrangements equivalent to cash. The information and opinions contained in this appraisal set forth the appraiser's best judgment in light of the information available at the time of the preparatiorj of this report. Any use of this appraisal by any other person or entity, or any reliance or decisions based on this appraisal are at the sole responsibility and at the sole risk of the third party. I accept no responsibility for damages suffered by any third party, as a result of reliance on or decisions made or actions taken based on this report. In my opinion, the reasonable exposure time linked to the value opinion is up to 180 days. I further cert'rfy that, to the best of my knowledge and belief: - The statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, oppinions, and conclusions. I have no present or prospective interest in the property that i9 the subject of this report or to the parties involved with this assignment. - My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment is not confin ent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, ~he amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related tp the intended use of this appraisal. My analyses, opinions, and conclusions were developed, and (this report has been prepared, in conformity with the Uniform Standard of Professional Appraisal Practice. - William Gregory Rothman and Mark A. Baron have made a personal inspection of the property that is the subject of this report. William Gregory Rothman PA State Certified General Real Estate Appraiser Pone TADD -'WinTOTAL' appraisal software try a la mode, inr,. -1-8lHLALAMODE 1 Copy of the ~ _ `./ \..i 'Tax Paroai Na. 040.115.00-007.000 DEED THIS DEED, made this ~~ day of January in the year of our Lore! two thousand three, {2003). BETWEEN RANDY SHAWVER and KATRINA L. SHAWVER, husband and wife Grantors and ALICE L, KOHLER, • Grantee WITNESSETH: In consideration of the sum of EIGHTY THREE THOUSAND AND ROh00 (583,000.00) DOLLARS, in hand paid, receipt whereof is hereby acivsowledgetl, the said Grantors do hereby grant and convey to the said Grantee: ALL THAT CfiRTAIN tract of land situate in Carrell Township, Perry Courr#y, Pennsyivanla, bounded and described as fo4ows: BEGINNING ai a nail in LR 40 at corner of other lands now orformeriy of Edward C. Michael; thence along L.R. 40 South 11 degrees 00 minute's 43 seconds East, a distance of 921.45 feet to a nail; thence along same South 4 degrees •30 minutes 43 seconds East, a distance of 74.25 feQt to a Hall; 'hence along other lands now or formerly of .Edward C. Michael South 76 dagr~ss 59 minutes 17 seconds West, a distance Of 228.56 feet m an iron pipe; thence along same North 25 degrees 17 minutes 57 secorxts West, a disfiance of 132 fleet to an iron pipe; thence along same North 63 degrees 22 minutes 35 seconds East, a distance of 279.74 feet to the place of BEGINNING. CONTAINING 41,232 square feet. BE1NG Lot No. 2 on Plan of Lots recorded in Perry County Plan Book 17, page 20. HAVING THEREON ERECTEfl a one and one-half story frame dwelling house and other outbuildings. Farrn SCNL6L - "WinTOTAL' appraisal software by a la mode, Inc. -1-800-ALAMODE Tax Parcel II~ 15.4 Ac. 1 r ',: ?. ~:, ~. ~ ~ - a:;~, .l.G .fi9 5.12 Ac. fir., /i MV V// pa _ _, ~~,~ ~ ~ ~ -~~ ~ . ~ ^If '~ by }~ ,~1. 'S' l .~. ~ ~Y ~ _ Form SCNLGL -'WinTOTAL' appraisal software by a la mode, Inc. -1-800-ALAMODE Zoning NIa~" ~.a~~ NL6L-"~TGZAL` app~~ SDf1Wa~ by a ~ mode, inc. - ~'~ Form SG 25.0' c ~ Porch o °0 25.0' ~ a0 Dining Bath Kitchen ^'~ ~ Laundry C N N Family Room Bedroom 25.0' Bedroom E3edroom ~~+i 25.0' 10.0' o Living Room c c nj N Porch! N 15.0' 1 0.0' aotrnbbKM1^ Comments: AREA CALCULATIONS SUMMARY Cods Daaeriptlon Nat Sbs Nst Tofsls GLA1 First Floor 830.0 930.0 GLA2 Swooad Floor 325.0 325.0 P/P Porch 200.0 porch 120.0 320.0 Net ENABLE Arm (Rounded) 1155 LIVING AREA BREAKDOWN Btwakdown Subtotals First Floor 25.0 : 26.0 650.0 12.0. z 15.0 190.0 6wcond Floor' 13.0 z 25.0 325.0 3ltems (Rounded) 1155 Form SKT.BIdSkI - "WinTOTAI" appraisal software by a la mode, inc. -1-800.AILAMODE P Location i Cberd Estate of Alice L. Kohler Pro a Address 7420 S rin Rd C' New Bbomfield Cou Pe State PA Zi Code 17066-9326 Lender Estate of Alice L. Kohler •................. Rkhpakl Snoupewm a la mode inc: -- -b sAi;na I~ ; ne aaser n.er acre aceeaaer 1(etlervine... '•.: ........,'_ '• Mloger W e hAeiservilk ~ °~1A 5hiMie -.•~Lildae Swalas.:, ('aoolamua a rouxbwn McKaes HalfF rHe.~~'RwndmP ,,..... ° irony Run M1Oahsntango Dalmalia MrAnsterville' J U N I A T A ~•• - eOnenW ... D'enmevill a ='117 i-.= Oakland Mllis - GmtlvJNe Seven Stare eM°~ -. e -• Areh Rock .... {~ •• - East Sakrt~e ~: '.} -' 36 , ....... Patton oCuDe MBIa i ~ ~ ..: • -- - - {I.(.. -' •' Wsrdville flakotle 15 `a glan Mlr~nlam Liverpool Rawan:t Mi PIeS~artt Ttrompaontovrn~' Kitiirgar ' "''t~nr Run ~ Cantervllle Van Wan',e ....~ Mlllarstown a Clovady Acre e ..- - -.. - _. _-~ Cxrtteo -'- ThtNnpsoritoWn ... Resenroa - R' A 73 _ " ~- _ e and~e Sletl'on - MAleroburgo,. ~,~ " i s - ort Roya! -- - .. -anY - .-.~.~Lenfoervine Old Port eTusrsmra , _ Domwly Miua PaWek •. ; . Mordgomery Ferry a ish .• y . ' f1sM Faue .. ~~. .. a ,e~+. arkalsvara .-• $~Y Nanfax Juniata I ~ Wehnele . - FUmace c oeh Run ° ~:~:-e.. Now Buaab Waynesvlsae sawll~ S u b j~ct a ow.ne Vaaay _: '- Mannsvuk ' Nearl~ntal. 7420 Spri g Road F eE~ ,-_..._.. o ....._. Rosa _ Dunwmnon r ~ ElAottsburg ~;~~ Gram Park Comer ~-~ ~'~ - '~ 8Beier P E R R -Y _~ ~~ Singenvule l~lNiBa ~ ~..;,.., Dauphin e. ~ISOJ'. Mugnwn FalYng - -o ~ i •;. ,.~ ~.r.... .. -Loyavine Sprinc,~Uinmq~W -. - Ninda ~' .For! Hunter m ~ x ' ,_ ' ' 1 .- ~~ Rodivf T4 _ - .. 8aauforC FatYrise -~ ..• ..• e ~•• '-~. ~PPalacnian -"... _.. West Erwla DEng ~ ; . : - DonnaltyEOUm Wartzvlge - _ Eriofa ~ C-dK e alivtaw .•' M1taunta~nc-.. .~~s P WBet '• ~' Errt!erviu a -~.... ~. ..._-` ~ - ''- .. ~ ° Good Nope Mfl X ~ F Captive Bms9rwlk Schlusser ,; °~stO"'r'. ` °''T ;jam e Camp HYI 7 New Kingstwwi ~ ~ Park iddiaeax •" ,' • e Shiremanstown - Lewar Aaari " aeft~sti--PNI _. ,.: 111 M~chankshur~.;:. Wlnd~~rk -. :: Cry~y~ a i •; '-e- a CaAlsle Hickoryfovae RwiDU ° Trindle Windmp -Raaemoym~ap Baas Crossroads , . - ,: 3pmJne~y` e r ., . ANetwllle Kerrsville .. eBormy Brack E. _. r ~ - A N D .Winding talY eMoun[ Rnafl ~ •Buncrres ~' f.` Q•IF~ P_ E. N IY S Y L V' A N -t, A, Mounirodc •. .-. i~ Springvgle gpa~ aAaen _ etbanMam..:- ,:=1ieDUrn° ~~ '" 4 PNnBs. .e~W116amsGroJe~ ....: ,.: Code: ^°. ?S. eRDaegaidart - -; .' Creipheada'. Leadghc." 1 eBlg Spring ? Bran(kavllla eMt Pleasant t,awisb Mooretlala Mt Zkfn ' WfriN Roruc Avae. . _. :.. Mount Nogy . - ~ J 74 .. Sprkrgs t c< Dkdclnson Moores Mill Canrek - e Stor4hatown ° . - ~ ~ Junakan Be9Yerldwn ~ _ o - ,. - ~Florfcareviae - - Flunrxdek ~. :~Lpnisburg ut1/ ,.' ~ _" ,pUpper MUl -,:`HO^1°,"~ '~~, .. e5tewutown -. -' Lapsdotr 1y . ,_ 7tu Ei7tf1° C~blarvllla ?`. - 5 a..' , Undontiawn gFrer+~`'_~'~rrtroay..",_ ~:ii:aerr±Rlrir Forth MAP.LDC -'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE HOBBLE AUCTIONS 901 North Second Street Harrisburg, PA 17102 Phone: (717) 233 - 0115 Fax: (717) 230 - 8996 email: billCc~hobbieauctions.com 11 /16/8 Yvonne Durham C/O Rhoads and Sinon 1 South Market Square Harrisburg, PA 17101 Dear Ms. Durham: As per your request, on November 4, 2008, I did inspect thei, contents of the estate of Alice Louise Drinkwater Kohler located at 441 South Third Street, Lemoyne, PA 17043 as designated by Mr. Edward Kohler. Having been an antique dealer for over fifteen years and an ',auctioneer for over twenty years, it is my opinion that the value of the afor~'mentioned items for estate evaluation purposes is as follows: Second floor- Queen Anne slipper chair, balloon back Another with broken springs Balance of items belong to rental tenant Kitchen - Contents upper cabinets -stemware, usual Everyday dishes and storage Contents lower cabinets -pots and pans, Tupperware, misc. Contents of counter -Microwave, toaster, Coffee maker, cups, food, misc. Walls and shelves - 4 Royal Daulton plate$ 2 Royal Gouda plates 8 floural plates, wall hangings, misc. vases and knick-knacks Table and chairs, worn and upholstered GE portable dishwasher Refrigerator Balance of items in room $50.00 $20.00 $40.00 $20.00 $15.00 $60.00 $20.00 $20.00 $5.00 $-0- $35.00 $10.00 Living Room #1- Baldwin baby grand piano $500.00 Panasonic boom box $10.00 Approximately 50 CD's and tapes $5.00 Shelves with books and speakers $5.00 7 decorative prints on walls $35.00 Piano top -family photos $-0- Decorative accessories $5.00 Brass sconces $10.00 Mirror $10.00 4 chairs $40.00 8 brass candlesticks $40.00 Mahogany drop leaf dining table, rough $75.00 Chinese plate $40.00 Table top porcelains $10.00 Thimble collection, approx. 80 thimbles With display shelf $50.00 Haviland Limoge dinner set with serving Pieces, service for 12, missing pcs. $125.00 Pine sideboard $50.00 Contents -pouch coins $15.00 Newer linens $10.00 Copper chafing dish, vase, decanter, Glass bowl and misc. $15.00 5 dishes on wall $5.00 Pine sideboard to match $50.00 Contents -cloth napkins, weighted Silver pieces, glass bowls, mist. $40.00 Assorted misc. china $25.00 Decanter $15.00 Chafing dish and family photos $10.00 Balance of items in room $10.00 Living Room #2- Top shelf - 1 Roseville, 1 copper luster, . 2 pcs. misc. china $50.00 Shelf #2 - 4 pcs. China, glass vase, photos $40.00 3 shelves of books $5.00 5 David Musselman watercolors (local artist) $100.00 Sofa picture of farm scene $10.00 Fireplace set $5.00 3 newer oriental vases $20.00 Newer iron rooster $5.00 Front hall - Brass candlesticks $25.00 Green vase $5.00 2 QA Victorian slipper chairs $75.00 Other shelves -top - 2 Roseville vases $75.00 Shelf #2 - 2 newer pewter mugs, Family photos $10.00 Shelf #3 -14K Waltham pocket watch, Rough $125.00 Mustache cup $40.00 Balance family photos $-0- Shelf #4 -Porcelain statues, milk glass, Misc. rough porcelains, newer Wedgwood, pattern glass plate, books $25.00 Bottom shelf -books $1.00 Zenith console TV $-0- 5 upholstered pieces $-0- Eastlake Victorian arm chair $25.00 Window sill -Ruby glass pitcher, 1896 $30.00 Royal Daulton mug - G. Washington $50.00 Decorative baxes, shell, misc. $10.00 2 brass table lamps $10.00 Brass floor lamp, green glass $20.00 Oriental type vase $10.00 Mahogany sideboard $25.00 Zenith N $_0_ Collector plates, tapes, misc. storage $5.00 Brass candle holder $5.00 Mahogany butler's table $30.00 Depression glass $10.00 Books, oriental vase, clock, glassware $5.00 Mahogany 3 shelf table $15.00 Lefton pelican, collector plate, misc. $15.00 Statue -boy fishing, composition $10.00 Balance of items in room $10.00 White oval marble top Victorian table $125.00 Gone With the Wing Lamp, electrified $100.00 Eastlake mirror $40.00 Weller umbrella stand $100.00 10 prints of Europe $5.00 Mahogany knee hole desk $50.00 Desk lamp $20..00 Contents -misc. storage and personal $-0- Prints, hat rack, letter rack, plate hanger $10.00 Chair $10.00 Front porch- 9 chairs $10.00 Plastic table, misc. $5.00 Wicker magazine rack $10.00 Hall closet - Electrolux $25.00 Clothes $_0_ Hall closet #2 - Clothes and food $-0- Maytag washer and dryer, stack $50.00 Rear hall - 8 frames, personal $-0- 4 frames $5.00 9 frames, prints and personal $-0- Bedroom #1 - Waterfall bed set, 4 pcs. $75.00 Mahogany jewelry box $20.00 Contents costume jewelry $50.00 Another mahogany jewelry box $50.00 Contents, costume jewelry $50.00 Clock, Wedgwood, family photos, onyx box $10.00 Bose radio $20.00 Side table $5.00 7 frames $5.00 Dresser contents -clothes $-0- Top -nicer rings $50.00 2 diamond rings $200.00 Upholstered chair, closet of clothes $-0- French provincial tall chest $20.00 Contents, clothes $-0- Rug, small rug $35.00 Balance of items $10.00 Bath - Various small frames $5.00 Personal items and closet of personal items $-0- Bath #2 - Personal items and closet personal items $-0- Bdroom # 2 - 2 pine chest of drawers $20.00 Contents, personal and clothes $-0- Desk to match with personal contents $10.00 Compaq computer $_0_ 2 table lamps $15.00 world globe $25.00 (' \, _-. Newer Hitchcock chair $15.00 Victorian slipper chair $20.00 Barometer $20.00 Penn State plate, 1982 $10.00 Upholstered chair $_0_ 4 shelves books $5.00 2 closetss, all clothes and personal $-0- Balance of items in room $10.00 Basement - 4 chairs $5.00 Maps, frames, Penn State plate $20.00 Gulbransen electric organ $50.00 6 frames $5.00 Thomas Kinkade statue $10.00 Oak drop leaf table $50.00 Top of table -Christmas decorations $-0- Magazine rack, upholstered chair, 2 porch Chairs, 4 other chairs $10.00 Brunswick pool table, not slate $50.00 Maps, wall decorations $10.00 Alwa sound system, vases, clothes, seasoinal Holiday storage, dehumidifier $40.00 Shop Vac, tools $20.00 Maytag washer and dryer $40.00 Chest of drawers $5.00 Contents - 10 Goebel figurines $50.00 Balance misc. storage $5.00 Work bench and tools $25.00 Hunting gear, bow and arrows $20.00 Balance of items in basement $10.00 TOTAL $4146.00 Hoping this appraisal is helpful to you, I ask that you phone my office if you have any questions. I thank you for letting me be of servic in hi matter. Sincerely, William W. Robbie Auctions ~~ p~ Original held by Rhoads ~ Sinon LLP "THE ALICE L. KOHLER REVOCABLE LIVING TRUST" Trustee: Alice L. Kohler 441 South Third Street Lemoyne, PA 17043 Suggested Asset Registration: Alice L. Kohler, Trustee of The Alice L. Kohler Revocable Living Trust under Declaration Dated March 8, 2001. Tax Identification Number: 188-12-3124 378267.1 REVOCABLE DECLARATION OF TRUST "The Alice L. Kohler Revocable Living THIS REVOCABLE DECLARATION OF TRUST ("Declaration") is made this ~'''` day of 1'~.rr ~ L~ , 2001, by and between ALICE L. KOHLER, of Lemoyne, Cumberland County, Pennsylvania, as Settlor and Trustee. WITNESSETH: WHEREAS, the Settlor desires to transfer the assets identified on Schedule "A" to the Trustee to hold upon the terms and conditions hereafter set forth; and WHEREAS, the Settlor may in the future place the active management and control of certain other property in the hands of the Trustee. NOW, THEREFORE, the Settlor hereby assigns, transfers and delivers unto the Trustee,. all of the assets described in Schedule "A" which shall be held, administered and disposed of by the Trustee, IN TRUST NEVERTHELESS, in accordance with the following provisions, and any amendments hereto: ARTICLE I Trust Assets The Settlor, or any other party or person, may from time to time make policies of insurance on the Settlor's life, individual retirement account benefits, and/or qualified or non- qualified retirement plan benefits payable to the Trustee, or may transfer other assets to the Trustee, subject to the terms of this Declaration, by inter vivos grant or by Will. The trust assets shall include assets listed on Schedule "A" attached hereto, the proceeds of any insurance policies payable to the Trustee (collectively hereinafter called the "Policies"), and all such other benefits or added assets (collectively the "Trust Assets"), which shall be held, admuustered, distributed and governed by the Trustee, IN TRUST NEVERTHELESS, in accordance with the provisions of this Declaration and any amendments hereto. ARTICLE II During the Settlor's Lifetime During the Settlor's lifetime, the Trustee shall: (A) Have, hold, manage, invest and reinvest the Trust Assets, collect the income and pay over the net income to the Settlor or apply such income for the benefit of the Settlor or use such income as the Settlor may direct, during',the Settlor's lifetime, after payment of all proper chazges and expenses. In addition, the Trustee shall pay such portion or all of the principal of the Trust Assets to the Settlor as the Settlor may from time to time request. Any income not distributed to the Settlor during the calendar year shall be added to Trust principal. (B) Pay and use such portion or all of the principal and income of the Trust as the Trustee, in the Trustee's sole discretion, from time to time shill deem necessary to provide for the proper maintenance, support, medical, hospital, nursing or nursing home care of the Settlor. -2- (C) Pay either from the principal or income of the Trust Assets any outstanding bills or obligations owing by the Settlor. (D) Whenever and as often as, in the sole judgment of the Trustee, the Settlor, to whom payments of income and principal are herein directed to be made, shall be unable to act, or shall lack ability or shall otherwise be unable to apply such payments to the Settlor's own best interest and advantage, the Trustee, in the Trustee's sole discretion, may make all or any portion of such payments in any one or more of the following ways: (1) directly to the Settlor; (2) to the legal guazdian or duly authorized agent of the Settlor; or (3) by the Trustee expending the same for the benefit of the Settlor. ARTICLE III Unon the Settlor's Death Upon the death of the Settlor, the then remaining trust assets shall be distributed as follows: (A} The Trustee shall distribute from the principal of the Trust, the sum of Ten Thousand Dollars ($10,000.00) to Settlor's grandchild, KEITH ANTHONY KOHLER, if he survives the Settlor. (B) The Trustee shall distribute from the principal of the Trust, the sum of Ten Thousand Dollars ($10,000.00) to Settlor's grandchild, KIMBERLY ANN KOHLER, if she survives the Settlor. (C) If the Settlor's son, MARLIN EDWARD KOHLER, survives the Settlor and if at the Settlor's death, the assets of the Trust include any interest in real estate known and numbered as 441 South Third Street, Lemoyne, Cumberland County, Pennsylvania, the Trustee shall distribute all of the Trust's interest in such real property to Settlor's son, MARLIN EDWARD KOHLER, outright and free of trust. -3- (D) The balance of the assets passing under this ARTICLE remaining after the distributions under paragraphs (A) through (C), shall be distributed as follows: (1) If at least one of the Settlor's sons, MARLIN EDWARD KOHLER and KEITH DRINKWATER KOHLER (the "Settlgr's Sons"), survives the Settlor, then the remaining trust assets shall be retaiined by the Trustee IN FURTHER TRUST NEVERTHELESS, to be held, administered and disposed of pursuant to ARTICLE IV hereof ("Trust for Sorb"). (2) If neither of the Settlor's Sons survives the Settlor, then the remaining trust assets shall be distributed to the issue of S~ttlor's son, KEITH DRINKWATER KOHLER, per stirpes, living at the Set$lor's death, or if none of his issue is then living, then to the Settlor's issue, per stirpes, living at the Settlor's death. ARTICLE IV Trust for Sons The Trustee shall have, hold, manage, invest and reinvest the assiets of the Trust for Sons, collect the income and (A) The Trustee shall pay the "Distribution Amount" defined below, in installments not less frequently than quarterly, to the Settlor's Sons, MARLIN EDWARD KOHLER and KEITH DRINKWATER KOHLER, in equal shares if both of them are living at the time for the periodic distribution under this paragraph (A), or entirely to the survivor if only one of the Settlor's Sons is then living, until the Trust is terminated under paragraph (G). The "Distribution Amount" in each tax year of the trust shall be an amdunt equal to seven percent (7%) of the average of the fair market value of the trust as of tl~e close of the last business day of the trust's three previous tax years (or such lesser number' of tax yeazs as are available for the first three tax years of the trust). In the case of a Short tax year, the Distribution Amount shall be calculated as set forth in paragraph (B} below. In the case of contributions to or distributions from the Trust for Sons, including iiutial funding, the Distribution Amount shall be determined as set forth in paragraph (C) below. (B) For a short tax year, the Distribution Amount shall be based upon a prorated portion of the Distribution Amount set forth in paragraph (A) above comparing the number of days in the short taxable year to the number of days in the calendar year',in which the short taxable yeaz is a part. -4- (C) In a taxable year in which assets are added to or distributed from the Trust for Sons (other than the Distribution Amount) (hereinafter "adjustment year"), the Distribution Amount shall be increased (in the case of a contribution) or decreased (in the case of a distribution) by an amount equal to seven percent (7%) times the fair market value of the assets contributed or distributed (as of the date or dates of the contributipn or distribution), multiplied by a fraction, the numerator of which is the number of days frdm the contribution or distribution to the end of the calendar yeaz and the denominator of which is the days in the calendaz year. Further, the year and values for the two tax years preced$ng the adjustment year shall be increased by the amount of such addition, or decreased by the amount of such distribution, for purposes of determining the Distribution Amount for yeazs following the adjustment year. (D) All computations of the trust's fair mazket value, or the value of any contributions or distributions as set forth above, shall include accounting income and principal, but no accruals shall be required. If the trust includes assets for which there is not a ready market, the Trustee shall adopt such method of valuation as file Trustee deems reasonable in the Trustee's sole discretion. (E) In addition to the Distribution Amount as determined above, the net accounting income earned in Settlor's estate and allocable to the residue sjhall be paid to the trust, and distributed to the Settlor's Sons or sole living son in addition to the Distribution Amount set forth above. (F) The Distribution Amounts from the trust shall.. be paid first from net accounting income, next from net realized short term capital gains, then' from net realized long term capital gains, and as necessary from the principal of the trust. (G) This Trust for Sons shall terminate at such time as the oldest of Settlor's Sons living from time to time attains the age of 65 yeazs or upon the death of both of Settlor's Sons if they die before the oldest attains the age of 65 years. Upon the termination of the Trust, the then remaining assets of the Trust for Sons shall be distributed in two equal'~shazes, as follows: (1) One equal share shall be distributed to Settlor'~s Son, MARLIN EDWARD KOHLER, if he is living at the termination of the Trust $or Sons, or if he is not then living, such share shall be added to the share passing under paragraph (G)(2) of this ARTICLE. (2) The other share shall be distributed tc> Settlox's Son, KEITH DRINKWATER KOHLER, if he is living at the termination of the Trust for Sons, or if he is not then living, to his issue then living, per stirpes, or if he' has no issue then living, to the Settlor's issue then living, per stirpes. -5- ARTICLE V Spendthrift Provision No part of the income or principal of the property held under any trust created hereunder shall be subject to attachment, levy or seizure by any creditor, spouseb assignee or trustee or receiver in bankruptcy of any beneficiary prior to his or her actual receipt thereof. The Trustee shall pay over the net income and the principal to the parties herein designated, as their interests may appear, without regard to any attempted anticipation (except as specifically provided herein), pledging or assignment by any beneficiary under any trust created hereunder, and without regard to any claim thereto or attempted levy, attachment, seizure or other process against said beneficiary. ARTICLE VI Death Taxes All inheritance, estate and similar taxes becoming due by reason pf Settlor's death, except any taxes relating to generation skipping transfers imposed under Chapter 13 of Subtitle B of the Internal Revenue Code, as amended ("Death Taxes"), shall be paid by the' Trustee from the property passing under ARTICLE III(D) of this Trust. -6- ARTICLE VII Trustee Powers ~: During the continuance of any trust created hereunder, the Trustee shall possess, among others, the following powers, exercisable without court approval, but in all cases to be exercised for the best interests of the beneficiaries and subject to the provisions of ARTICLE IX hereof: (A) To retain any investments so long as the Trustee may deem it advisable so to do, including securities owned, issued or un.derwritt~n by any corporate Trustee or any of its affiliates. (B) To vary investments, when deemed desirable by the Trustee, and to invest in every kind of property and type of investment, including securities owned, issued or underwritten by any corporate Trustee or any of its affiliates, or ~s to which such Trustee or its affiliate acts as investment advisor, as the 'Trustee shall deem wise. (C) To exercise any outstanding stock option in effect at the Settlor's death, and to borrow any necessary funds from any person or institution, including the Trustee, to mortgage or pledge any or all real or personal property as the Trustee in the Trustee's sole discretion shall choose without regard for the dispositive, provisions of this Declaration. (D) In order to effect a division of the principal of any trust'or for any other purpose, including the final distribution of any trust, the Trustee is authorized to make said divisions or distributions of the personalty and realty partly oz' wholly in kind. If such division or distribution is made in kind, said assets shall be divided or distributed at their respective values on the date or dates of their division or distribution. In making any division or distribution in kind, the Trustee shall divide and distribute said assets in a manner which will fairly allocate any 'unrealized appreciation among the beneficiaries. (E) To sell either at public or private sale and upon such terms and conditions as the Trustee may deem advantageous to any trust, any or'all real or personal estate or interest therein owned by any trust severally or in conjunction with other persons or acquired by the Trustee (including selling "short" any rights privilege, option or asset), and to consummate said sale or sales by sufficient deeds or other instruments to the purchaser or purchasers, conveying a fee simple title, fret and clear of all trust and without obligation or liability of the purchaser or purchasers to see to -7- the application of the purchase money or to make inquiry into the validity of said sale or sales; also, to make, execute, acknowledge and deliver any and all deeds, assignments, options or other writings which may be necessary or desirable in carrying out any of the powers conferred upon the Trustee in this paragraph or elsewhere in this Declaration. (F) To make leases of real estate for any term. (G) To borrow money from any parry, including the Trustee;. to pay an indebtedness of the Settlor or of the Settlor's estate or trust, expenses of administra- tion, all estate, inheritance and similar taxes (hereinafter referred to as "Depth Taxes") and other taxes. (l~ To pay, in the Trustee's discretion, without reimbursement, all costs, Death Taxes or other taxes, expenses and charges in connection with the administra- tion of the Settlor's estate or trust, and to pay the funeral expenses and the expenses of the last illness of the Settlor. (I) To vote any shares of stock which form a part of any trust and to otherwise exercise all the powers incident to the ownership of such stock; 'to actively manage and operate any incorporated or unincorporated business, including any joint ventures and partnerships, and to incorporate any such unincorporated busliness, with all the rights and powers of any owner thereof. (~ In the discretion of the Trustee, to unite with other owners of similar property in carrying out any plans for the reorganization of any corporation or company whose securities form a part of any trust. (K) To assign to and hold in any trust an undivided portion of arty asset. (L) To select, employ and compensate any person, firm or ¢orporation engaged in rendering investment counsel advice to advise the 'Trustee in making investments, managing securities or making decisions concerning the purchase, retention, sale or other disposition of any part of any trust estate hereunder; and to select, employ and compensate any attorney or firm of attorneys to render legal services to the Trustee with respect to any trust estate hereunder. -8- ARTICLE VIII Survival Presumptions Any person who shall have died at the same time as the Settlor or under such circumstances that it is difficult or impossible to determine who shall have died First, shall be deemed to have predeceased the Settlor. Any person other than the Settlor who shall have died at the same time as any then beneficiary of income of a trust created hereunder or under such circumstances that it is difficult or impossible to determine who shall have died first, shall be deemed to have predeceased such beneficiary. ARTICLE IX Concerning Trustees (A) Successor Trustee. In the event ALICE L. KOHLER should cease to serve as Trustee by reason of her written resignation, incapacitation or death, THE PRUDENTIAL SAVINGS BANK, F.S.B. (the "Bank"), shall serve as successor Trustee. For purposes of this Trust, a Trustee shall be deemed to be incapacitated if the Trustee's physician concludes in writing that the Trustee is not mentally capable of administering the Trust. (B) Delegation and Affiliates. The Settlor recognizes that the dank is an affiliate of The Prudential Insurance Company of America ("The Prudential"), Prudential Securities Incorporated ("PSI"), Pruco Securities Incorporated ("Pruco"), The Prudential Bank and Trust Company and Prudential Mutual Fund Management, LLC ("PMF") and agrees that the Bank while serving as T>`ustee may in its discretion employ and delegate responsibilities to any agents, ilnvestment advisors, accountants, attorneys, subcustodians or managers, including these and any other affiliate of The Prudential, as it deems necessary or appropriate in the administration of the Trust and may compensate them from the Trustee's fee or from Trust property as a Trust administration expense. Such delegation may be evidenced by written contract between the Bank and the person/entity to whom responsibilities have been delegated, and such delegation shall not be deemed to be an assignment of this trust agreement in whole or in part:. All securities transactions shall be executed through PSI, Pruco or another affiliate ~t its then prevailing rates and charges. The Bank may share information with affiliates with -9- respect to the Trust and its beneficiaries, including the release of account information to a beneficiary's PSI or Prudential professional. The Bank may pay fees to its affiliates, including PSI and Pruco, or others for referring the trust to the Bank. In the event the Trustee is unwilling or unable to act with respect to any Trust property, the Trustee may designate in writing an individual or corporation to act as alternate Trustee with respect to the specified Trust property. The alternate Trustee shall have all of the powers of the Trustee as provided herein unless otherwise limited in writing by the delegating Trustee. An alternate Trustee may resign at any time by an instrument in writing delivered to the delegating Trustee, and the delegating Trustee may remove the alternate Trustee at any time by written notice to the alternate Trustee. (C) Trust Investments. The Trustee may retain any Trust assets and may invest in any property whether or not such property is generally deemed suitable for the investment of Trust funds. The Bank may purchase with Trust funds products of any affiliate and may invest in any collective fund it or any affiliatQ maintains and any investment company or investment management program for which it or any affiliate may act as sponsor, advisor, manager, custodian, Lmderwriter, broker or in any other capacity, and any compensation received by it or an affiliate from the purchase or sale of such products or from a collective fund, investment company or investment management program, including fees for management, advisory, transfer, accounting and brokerage services, will not offset any fees to be paid to the Bank from the Trust property as a Trustee's fee or expense of administration of the Trust. (D) Trustee's Responsibilities and Indemnification. The Trustee shall not be required to qualify to serve or register the trust and may exercise all powers without order of any court. The Trustee shall not be required to give bond or file any inventory, appraisal, account or other report with any court. The T~xstee shall not be required to inquire into or audit the acts or accounts of, or make'' any claim against, any person or entity that served as a prior fiduciary, and the Triustee shall be indemnified and held harmless by the Trust against all claims, liabilities and expenses, including attorney's fees, resulting from the action or failuixe to take action of a prior fiduciary. The Trustee may accept property received from the prior fiduciary as the total property of the Trust. The Trustee shall not b~ liable for any loss arising from the depreciation or reduction in value of Trust property except with respect to a breach of trust committed intentionally or through negligence or bad faith, and the Trustee or any affiliate shall be indemnified and held h~.rmless by the Trust against all claims, liabilities and expenses, including attorney's fees, provided it has acted within its powers and authority. (E) Resignation. The Trustee may resign at any time and for any reason by a written notice delivered to the current income beneficiary or beneficiaries. Upon resignation or removal or termination of the Trust in whole or im part, the -10- Trustee shall not be required to release trust property without receipt of a release and discharge acceptable to it or court approval of its accounts and actions. In the event of a failure to appoint a Successor Trustee as provided herein, the Trustee or any beneficiary may secure the appointment of a Successor Trustee by a court having jurisdiction over the Trust. All expenses, including attorney's fees, of any court proceeding to secure approval of the Trustee's accounts and actions or appointment of a Successor Trustee shall be paid by the Trust. (F) Trustee's Fee. A corporate Trustee shall be compensated from Trust property in accordance with its schedule of rates, fees and charges for trusts as published from time to time and in effect at the time such services are performed and such compensation is payable. When serving as a Co-Trustee, the corporate Trustee shall be compensated as if it was the sole Trustee. (G) Accountinss. The Trustee shall provide statements at least quarterly to the Trust's income beneficiaries, and may provide statements from time to time to the Trust's remainder beneficiaries. If a beneficiary does not notify the Trustee in writing of an objection to a periodic statement within three (3) months of the date of the statement, the statement shall be deemed approved by the beneficiary. The income beneficiaries may approve accountings and/or release and discharge the Trustee from any liability with respect to any action, account or claim, and such approval, release or discharge shall be binding upon anyone who claims an interest in the Trust at that time or thereafter. (H) Insurance Policies. In the event the Trust is entitled to receive any proceeds of insurance, the Trustee is authorized to execute all necessary receipts and releases to the insurance company. Upon being advised of the maturity of any insurance coverage, the Trustee shall take reasonable steps to collect such sum as may be due the Trustee with respect to such insurance, and the Trustee may institute proceedings at law or in equity or otherwise to enforce payment to it of any amounts due; provided, however, that the Trustee shall not be required to enter into or maintain any litigation to enforce such payment unless the Trustee has in the Trust sufficient funds on hand for that purpose or unless the Trustee has been indemnified to its satisfaction against all expenses and liabilities to which it may, in its judgment be subjected by any such action on its part. (I) All references herein to the "Trustee" shall refer to the originally named Trustee and to any successor Trustee, as the case may be. (~ Whenever the Trustee, in the Trustee's sole discretion, determines that any trust hereunder should be terminated because said trust is too small to justify its maintenance as a separate trust, the Trustee, without any liability to any person or remainderman whose interest may be affected thereby and without the necessity of prior court approval, shall terminate such trust and shall distribute the -11- t~ assets of the terminated trust outright to the individual or individuals at that time eligible to receive the income therefrom. If any additions to any such trust are received after its termination under this ARTICLE, such trust shall be revived and this provision shall continue to apply to it. The Trustee discretion herein granted shall in no event be construed as giving any potential distributee of a trust the right to compel a termination in whole or in part of such trust. ARTICLE X Custodian If at any time any individual under the age of twenty-one years shall be entitled to receive any assets hereunder free of trust, the Trustee shall act as Custodian of such assets for the benefit of such individual under the Pennsylvania Uniform Transfers to Minors Act. ARTICLE XI Sure The Trustee shall serve without the duty or obligation of filing any bond or other security. ARTICLE XII Revocability The Settlor may, by instrument in writing delivered to the Trustee, modify, alter or revoke this Declaration in whole or in part; provided, however, that the duties, p©wers, compensation and liability of the Trustee shall not be changed without the written consent of the Trustee. -12- ARTICLE XIII Situs This Declaration and any trust created hereunder shall be governed by the laws of Pennsylvania and shall have its situs in Cumberland County, Pennsylvania. ARTICLE XIV Trust Matters (A) This instrument is being created to provide for the convenient administration of the assets of Alice L. Kohler without the necessity of court supervision during her lifetime and in the event of the Settlor's incapacity or death. Any person shall deal with the Trustee without the approval of any court, the Settlor or any beneficiary of any Trust created by this Declaration, and shall assume that the Trustee has the same power and authority to act as an indi`~idual does in the management of his or her own affairs. Any bank, broker, mutual fund, life insurance company or other financial institution or any other person who deals with the Trustee and who is presented with a copy of this page and any other page of the Trust shall accept the same as conclusive proof of the terms and authority granted by these instruments and shall assume that no conflicting directions or terms are contained in the pages omitted. (B) In order to facilitate the convenient administration of the Trust, including the registration and transfer of assets to and from the Trust, the Settlor or any Trustee shall have the power to execute a Certificate of Trust describuxg any trust matter, including but not limited to a description of the trust terms, certification of any pages of this Trust, the administration powers of the Trustee and the identity of any current Trustee. Any person who receives an original or photocopy of said'Certificate of Trust shall be held harmless from relying on the same, and shall not be obligated to inquire about the terms of the Trust or maintain a copy of the Trust. The Ts~ustee shall have the power to indemnify and hold harmless any financial institution or other third person for their good faith reliance upon the information contained in the Certificate of Trust. -13- - - - ~~~•~ IN WITNESS WHEREOF, ALICE L. KOHLER, as Settlor, has hereunto affixed her hand and seal, and ALICE L. KOHLER, as Trustee, as accepted this Trust and has caused this Revocable Declaration of Trust to be signed all as of day and year first above written. . WI SETTLOR: • ° ~ SEAL) Alice L. Kohler S: ;% ,~ TRUSTEE: G~,,e'-Ef c~L ~ ~~~~ (SEAL) Alice L. Kohler -14- The Alice L. Kohler Revocable Living Trust SCHEDULE "A" Prudential Securities Account Number: 044-164213-18 Residence: 441 South Third Street, Lemoyne, Cumberland County, Pennsylvania 17043 WITNESS: i t~~- SETTLOR: Alice L. Kohler TRUSTEE: ~ r ,t' li~~~~~ (SEAL) Alice L. Kohler ~- COMMONWEALTH OF PENNSYLVANIA ) SS: COUNTY OF 1~~.~~ ~ ~L-- ~ ) On this, the ~~'~ day of t-~c~ mac. ~- , 2001, before m~, a notary public, the undersigned officer, personally appeared ALICE L. KOHLER, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Declaration, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. . ~~ Notary Pu c My Commission Expires: (SEAL) Notarial Ssal Cindy L. l.eit$el, Notary Public Harrisburg, Dat>iphln Couniy My Commission expires Dec. 2, 2002 t•Aember. Pennsvivania Association of Notaries "THE ALICE L. KOHLER REVOCABLE LIVING TRUST" THIS FIRST AMENDMENT TO THE REVOCABLE DECLARATION OF TRUST ("First Amendment"} is made and entered by ALICE L. KOHLER, of Lemoyne, Cumberland County, Pennsylvania (hereinafter the "Settlor" and "Trustee") WITNESSETH: WHEREAS, the Settlor by Declaration of Trust dated March 8, 2001, established The Alice L. Kohler Revocable Living Trust (hereinafter the "Declaration'"), ARTICLE XII of which allowed the Settlor to modify or amend the Agreement in writing, which the Settlor hereby intends to do. NOW, THEREFORE, the Settlor hereby amends the Agreement of Trust as follows: 1. The Settlor deletes ARTICLE IX and in lieu thereof provides the following new ARTICLE IX. ARTICLE IX Concerning Trustees (A) Successor Trustee. In the event ALICI: L. KOHLER should cease to serve as Trustee by reason of her written resignation, incapacitation or death, her sons, MARLIN E. KOHLER and KEITH DRINKWATER KOHLER, shall serve as Co-Trustees in her place. In the event that either MARLIN E. KOHLER or KEITH DRINKWATER KOHLER should cease to serve as Co-Trustee, each shall be authorized to designate any person or institution to serve as his successor, which designation must be in writing and shall be effective without court approval. If there is ever only one Trustee serving hereunder and no successor has been effectively designated, such sole trustee may, by written notice directed to the life tenant and the Trust, designate his successor(s) or Co-Trustee(s) to serve with him, any such designation to be effective without court approval. .--~ ~. ~~~ ~~ ~L ~C~igirei heid by .~h^v8d~ ~ S!nOn iLP 538163.1 FIRST AMENDMENT TO REVOCABLE DECLARATION OF TRUST (B) Any individual Trustee shall be deemed to have failed to serve as Trustee hereunder if, among other reasons, the treating physician of such individual Trustee shall certify in writing that such Trustee possesses permanent mental or physical incapacities which preclude such '.Crustee from discharging his or her duties as Trustee hereunder. (C) Any Trustee serving hereunder shall have the sight to resign from such office at any time, with or without cause and without Caurt approval. No successor Trustee shall be liable for the actions of the Trustee occurring prior to the successor Trustee taking office. (D) Notwithstanding anything to the contrary herein contained, so long as a Trustee or the issue of such Trustee is a beneficiary of any trust hereunder, such Trustee shall not participate in any discretionary determination of the Trustee (i) to make trust distributions to or for the benefit of suuch Trustee or his or her own issue; or (ii) to terminate any trust for the benefit of such Trustee or his or her issue under the ARTICLE hereof captioned "Additional Trust and Trustee Provisions". (E) Any corporate trustee serving hereunder shall be entitled to compensation in accordance with its standard schedule of fees in effect when the services are rendered. (F) All references herein to the "Trustee" shall refer to the originally names Trustee(s) and to any successor Co-Trustees or sole successor Trustee, as the case maybe. 1N WITNESS WHEREOF, ALICE L. KOHLER, as Settldr and Trustee, has hereunto set her hand and seal to this First Amendment to Declaration of Trust, this ~ day of '~.Z~-(,'', , 2004. WITN ~~ ~~ ~ SETTLOR: / ~~ ,; ~ ~ 1% ~f~~ ,.~ U/ r-~, -L`.1--~~f (SEAL) Alice L. Kohler The undersi~n~ hereb,~}accepts this First Amendment to Declaration of Trust: TRUSTEE: T ,~ ~, ~ C, ~ , . ,/~/~ ~~., , (SEAL) Alice L. Kohler -2- 4..~.e7i ~~. ~, °. ,~~ ~:_ ~_,,; Y~- COMMONWEALTH OF PENNSYLVANIA ) SS: COUNTY OF DAUPHIN ) On this, the \ Z day of ~ C~\~C ~-- ~~.~-- 2004, before me, a notary public, the undersigned officer, personally appeared ALICE L. KOH:LER, tome known to be the person described in and who executed the foregoing First Amendment to Agreement of Trust, and acknowledged that she executed the same for the purposes thereon contained. IN WITNESS WHEREOF, I hereunto set my hand and official e;eal. -C :.. Notary Publi My Commission Expires; (SEAL) COIvIMONWEAI: FI Or Yi~iy!~!"iL.VP,i'.~f!1 i N~tarial Seal Cindy L. Leitzel, Nota.rv Put~l.ic City of Harris urg, Dauphin Cai.nfy ; My Coramissioh l;xpires Der 7. e!'+(1~; Member Penns/l~r7ri:~ n.ecnri~~i- ~u ~.: Date of Death: 10/16/2008 Valuation Date: 10/16/2008 Processing Date: 11/03/2008 Estate Valuation Shares Security or Par Description High/Ask Low/Bid -- Estate of: Estate of Alice L. Kohler Account: Wachovia Trust Account Report Type: Date of Death Number of Securities: li File ID: Kohler, Alice - trust Mean and/or Div and Int Security Adjustments Accruals Value 1) 304 AT&T INC (002068102; T) COM New York Stock Exchange 10/16/2008 25.75000 23.91000 H/L 24.830000 Div: 0.4 Ex: 10/08/2008 Rec: 10/10/2006 Pay: 11/ 03/2008 2) 1700 EXXON MOBIL CORP (302316102; XOM) COM New York Stock Exchange 10/16/2008 69.68000 59.17000 H/L 64.425000 3) 7 FAIRPOINT COMMUNICATIONS INC (305560104; FRP) COM New York Stock Exchange 10/16/2008 5.65000 5.00000 H/L 5.325000 Div: 0.2575 Ex: 09/26/2008 Rec: 09/30/2008 Pay: 10/17/2008 4) 3225 GENERAL ELECTRIC CO (369604103; GE) COM New York Stock Exchange 10/16/2006 19.96000 18.31000 H/L 19.135000 Div: 0.31 Ex: 09/18/2008 Rec: 09/22/2008 Pay: 10/27/2008 5) 806 GENERAL MTRS CORP (370442105; GM) COM New York Stock Exchange 10/16/2008 6.56000 5.79000 H/L 6.175000 6) 1064 PPL CORP (693517106; PPL) COM New York Stock Exchange 10/16/2008 30.68000 28.54000 H/L 29..610000 7) 416 VERIZON COMMUNICATIONS INC (92343V104; VZ) COM New York Stock Exchange 10/16/2008 27.71000 25.18000 H/L 26.445000 Div: 0.46 Ex: 10/08/2008 Rec: 10/10/2008 Pay: 11/03/2008 8) 455 VODAFONE GROUP PLC NEW (92857W209; VOD) SPONS ADR NEW New York Stock Exchange 10/16/2006 19.80000 18.38000 H/L 19.090000 9) 2596.828 INCOME FD AMER INC (453320301; IFACX) CL C Mutual Fund (as quoted by NASDAQ) 10/16/2008 13.36000 Mkt 13.360000 10) 1188.23 PIMCO FDS PAC INVT MGMT SER (693391211; PSHAX) SHORT TRM A Mutual Fund (as quoted by NASDAQ) 10/16/2008 9.64000 Mkt 9.640000 11) 2707.11 Cash (CASH) Total Value: Total Accrual: Total: $285,157.42 7,548.32 121.60 109,522.50 37.28 1.80 61,710.38 999.75 4,977.05 31,505.04 11,001.12 191.36 8,685.95 34,693.62 11,454.54 2,707.11 $283,842.91 $1,314.51 Page 1 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4) Estate Valuation Date of Death: 10/16/2008 Estate of: Estate of A lice L. Kohler Valua tion Date: 10/16/2008 Account: Wachovia Trust Account Proce ssing Date: 11/03/2008 Report Type: Date of Death Number of Securities: 11 File ID: Kohler, Alice - trust Shares Security Mean and/or Div and Int Security or Par Description High/Ask Low/Bid Adjustments Accruals Value 1) 304 AT&T INC (002068102; T) COM New York Stock Exchange 10/16/2008 25.75000 23.91000 H/L 24.830000 7,546.32 Div: 0.4 Ex: 10/08/2008 Rec: 10/10/2008 Pay: 11/03/2008 121.60 2) 1700 EXXON MOBIL CORP (302316102; XOM) COM New York Stock Exchange 10/16/2008 69.68000 59.17000 H/L 64.425000 109,522.50 3) 7 FAIRPOINT COMMUNICATIONS ZNC (305560104; FRP) COM New York Stock Exchange 10/16/2008 5.65000 5.00000 H/L 5.325000 37.28 Div: 0.2575 Ex: 09/26/2008 Rec: 09/30/2008 Pay: 10/17/2008 1.80 4) 3225 GENERAL ELECTRIC CO (369604103; GE) COM New York Stock Exchange 10/16/2008 19.96000 18.31000 H/L 19.135000 61,710.38 Div: 0.31 Ex: 09/18/2008 Rec: 09/22/2008 Pay: 10/27/2008 999.75 5) 806 GENERAL MTRS CORP (370442105; GM) COM New York Stock Exchange 10/16/2008 6.56000 5.79000 H/L 6.175000 4,977.05 6) 1064 PPL CORP (693517106; PPL) COM New York Stock Exchange 10/16/2008 30.68000 28.54000 H/L 29.610000 31,505.04 7) 416 VERIZON COMMUNICATIONS INC (92343V104; VZ) COM New York Stock Exchange 10/16/2008 27.71000 25.18000 H/L 26.445000 11,001.12 Div: 0.46 Ex: 10/08/2008 Rec: 10/10/2008 Pay: 11/03/2008 191.36 8) 455 VODAFONE GROUP PLC NEW (92857W209; VOD) SPONS ADR NEW New York Stock Exchange 10/16/2008 19.80000 18.38000 H/L 19.090000 8,685.95 9) 2596.828 INCOME FD AMER INC (453320301; IFACX) CL C Mutual Fund (as quoted by NASDAQ) 10/16/2008 13.36000 Mkt 13..360000 34,693.62 10) 1188.23 PIMCO FDS PAC INVT MGMT SER (693391211; PSHAX) SHORT TRM A Mutual Fund (as quoted by NASDAQ) 10/16/2008 9.64000 Mkt 9..640000 11,454.54 11) 2707.11 Cash (CASH) 2,707.11 Total Value: $283,842.91 Total Accrual: $1,314.51 Total: $285,157.42 Page 1 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inca If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4) 3 9 .. ~ ~ ~ 1 ~• m $ ~a g ~. m ~ r ~ pp ~ N j r ~ g 9 ~~ QN r p ~pNN o'~ q'O~dO ~$ ~~ T ~` r tl 'g ~4s '~ ~ %~ O v J November 25, 2008 Yvonne R. Durham Rhoads 8~ Sinon LLP One South Market Square Harrisburg, PA 17108 RE: Estate of Alice L. Kohler 441 S. Third Street Lemoyne, PA 17043 Dear Ms. Durham: Pursuant to your request, We have prepared a Summary Appraisal Report for the property captioned in the "Summary of Salient Features" which follgws. The accompanying report is based on a site inspection of improvements, investigation of the subject neighborhood area of influence, and review of sales, cost and income data for similar properties. This appraisal has been made with particular attention paid tq the applicable value influencing economic conditions and has been processed in accordance with nationally recognized appraisal guidelines. The retrospective market value conclusion stated herein is as of the date of death of Alice L. Kohler, on October 16, 2008; as stated in the body of the ajppraisal and contingent upon the certifications and limiting conditions attached. The date of inspection was November 11, 2008. Please contact me, if I can be of additional service to you. Respectfully, William Gregory Rothman PA Certified General Real Estate Appraiser Form DCVR -'WinTOTAL' appraisal software by a la mode, inc. -1.800-ALAMODE SUMMARY OF SALIENT FEATURES Subject Address 441 S 3rd St Legal Description Book 242 Page 290 City Lemoyne Courdy Cumberland State PA Ilp Code 17043-2002 Census Tract Map Reference 25420 Sale Price ; N/A Date of Sale N/A Borrower N/A LenderlCllent Estate of Alice L. Kohler Size (Square Feet) Pdce per Square Foot ; Location suburban Age 82 Condition average Total Rooms 9 Bedrooms 4 Baths 3 Appraiser William Gregory Rothman PA Certified General RE Apprtaiser Date of Appraised Value 10/16/2008 Opinion of Value ; Form SSD2 - "WInTOTAL' appraisal software by a Ia mode, Inc. -1-800-ALAMODE Subject Photo ~e CNent Estate of Alice L. Kohler Pro Address 441 S 3rd St C Lemo Cou Cumberland State PA L Code 17043-2002 Lender Estate of Alice L. Kohler Subject Front 441 S 3rd St Sales Price N/A Gross Diving Area Total Rpoms 9 Total B¢droams 4 Total B$throoms 3 Locatign suburban dew typical for the neighborhood Site .26 acre Quality average Age 68 Subject Rear Subject Street Fonn PICPDCSR -'WInTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE Real Estate Appraisals (717) ~ X037 in~e no. uo i ~ i i u Small Residential Income Prope~rtV Appraisal Report FlbX 08111101MB The u ose of this summa raisal report is to provide the lender/client with an accurate, and ad ua sup rted, o anion of the marlc~ vakre of the subject ro Pro Address 441 S 3rd St C' Lemo a State PA ~ Code 17043-2002 Bonowar N!A Owner ct Public Record Estate of Alice L. Kohler Cou Cumberland Le al Descri on Book 242 Pa a 290 Assessor's Parcel # 12220822214 Tax Year 07-08 R.E. Taxes $ 2 812 Nel hbarhaod Name Lemo Boro h Ma Reference 25420 Census Tract 0106.00 Occu ant Owner Tenant Vacant S eclat Assessments $ NIA PUD HOA $ N!A er ear er month Pro RI nts raised Fee SI ~ Leasehold Olhar describe Assi nment T e Purchase Transaction Refinance Transaction Other describe Estate Setdemerrt Lender/CNent Estate of Alice L. Kohler Address 441 S. Third Street Lamo a PA 7 Is the sub' t ro e cure offered for sale or has h been offered for sale in the twelve months rior io the effective date o this a raisal? Yes No R ort data sources used afferin rice s and dates . Owner MLS Public Record I ^ did ®did not analyze the correct for sale for the subject purchase transaction. Explain the results of the anaysis of contract for sale or why the anatysis was not erfOfined. N!A The u ose of this a raisal is not fora urohase transaction. Contract Price $ N/A Date of Contract NIA Is the ro seller the owner ct ubtlc record? es No Data Sources ublic record Is there any financial assistance (loan charges, sale concessions, gift ar downpayment assistance, etc.) to be paid by any pa on behalf of the borrower? ^ Yes ^ No tt Yes, re rt the fatal dollar amount and describe the hems to be id. N/A Note: Race and the rectal eomposl8on o} the net hborhood are not a raisal fadxtra. ,. . ; > -Nei btiodwod:ClurectedaUce' - , 2-4 Unli~tioualh Ttenda , - : 2-4:Unit kbualn FresenCLanddse%. Locatlon Urban Suburban Rural Pro Values Increasin Stable Decllnin '~ PRICE AGE One-Unh 65 % Built-U Over 75% 25.75% Under 25% DemandlS Shorha a In Bahance Over S $000 rs 2-4 Unh 8 % GroMM R id Stable Slow Markets Time Under 3 mths 3-6 mtlrs Over 6 124 Low 1 Mufti-Faint 6 % Nei hborhood Boundaries See attached bcatlon ma .Lemo a Boro h ' 320 Hi h 100+ Commercial 12 % 185 Prod. 30-40 Oftrar 9 % Net hborhood Descri trop Sub'ed has access to all necessa su orti facilfies includin schools u tic arks trans rtafion sho i and •• houses of worshi . Em to eM stabil is ood due to the State Ca ital at Harrisbu the Cou S at a Harrisbu and the surrounds West Shore area. Avere a roe maintenance rams observed. Em b ant is within 5-30 minute d ave. Market Condttions incktdin su ort for the above conclusions Local market conditbns are moderate stab with ro ernes usual settle whhin 120 da if ro raced and marketed. Financin acka es are varied with most conventional and atoll a n ants in the 1-3 or more ran e. Mort a e mone is available to credible b rs with A/F A with few cash sales sellers are to ra in from 5.75 to 6.5 ercent. Dimensions See L al Descri tan in the Deed Area .25 acre S e recta tar Yew ical for the ne' hborh~ S iflc Zonin Classification S-R Zonln Descd bon Suburban Residential Zodn Com I(ance L al Le al Noncontomi Grarrdfathered Use No Zonin I al describe Is the hi hest and best use of subject roe as Im roved or as ro osed r lens and s ecificadons the resent use? ' Yes No tt No, describe UtlNlks Public Other (describe PuWk Other (describe) Off-etta I vements - T Publk Prhrate Electric' Water Street p aved Gas Santta Sewer Alle s ! aved FEMA 5 eclat Fbod Hazard Area Yes Nc FEMA Fbod Zone C FEMA M # 4203610001 BI FEMA M Date 12/4/1979 Are the utlltties and/or off-site im rovements ical for the market areal Yes No tt No, describe Are there adverse site conditions or external factors easements, encroachments, environmental conditions, Land uses, etc. Standard easemerrts for utilhies are resent which do not adverse affect the she. There are no kno 7 Yes No tt Yes, describe or a arent adverse easemerrts erxxoachmerds or conditions noted. _ n , Fouhdatiiort F.zt~lorfkaotf _tion Units Two Three Four Concrete Slab Crawl S ace Foundation Walls conc.ls fidttlotti InEeffor rtfatettelsLcondttlatt ne/a Floors c t vi /fair Accessc Unit describe below Futl Basement Partial Basement Exterior Walls Brick/a WaNs dw anal ! av . # of Stories 2 # of bkl s.1 Basement Area 1 112 s .ff. Roof Surface Shin le rub e7a TrinVRnish ical wd. /fair T e Det Aft S-DetJEnd Untt Existl Pro osed Under Const Basement Flnish 30 % Outside E /E>at Sum Pum Guitars & Downs outs Alumin Window T e Vin W /a H fairla Bath Fbor vi / a Bath Wa(nscot fibs lass / a Desl n le Tredhional Evider~e of .Infestation none Stone SasMnsulated s/ s' CatrStb Year Buitt 1926 Dam ness Settlement Screens ical None Effective A e re 35-40 H~tln Ile Ahteultles _ Drivewa # of Cars 4 Attic None FWA HWBB Radiant Flre laces # 1 Woo stoves # 1 Ddvexa Surface stone /macadam Dro Stair Stairs Other Fuel electric Pafio/Deck atio Fen a Gars e # of Cars Floor Scuttle Coolie Cerdral Air Coraiitlonin Pool Por h rear C ort # of Cars Rnished Heated Individual Other Other enclosed oroh Aft ^ Det Brett-in ' # of Appliances Refrigerator P Range/Oven 2 Dishwasher Disposal Microwave Wash r/Dryer P Odrer (describe) Untt # 1 contains: 5 Rooms 2 Bedrooms 2 Baths 1 561 S u~ re Feet of Gross LMn Area Unit # 2 contains: 4 Rooms 2 Bedrooms 1 Baths 896 Sure Feet of Gross Lavin Area Unit # 3 contains: Roams Bedrooms Baths S u Feet of Gross Lavin Area Unit # 4 cordains: Rooms Bedrooms Baths S u Feet of Gross Llvi Area Additlonal features s sal seer efficient (tams, etc.. foal to the market area. Describe the condition of the roe includin needed re airs deterioration renovations remodelin etc.. The su ' ro is considered to be in avere e condition. There is no economic or functional obsolescence noted. Both units are dated and inn of cosmetic u atin to increase marketabil' exterior wood trim needs scre ed and ainted. Freddie Mac Form 72 March 2005 Page 1 of 7 Fannie Mae Form 1025 March 2005 Form 1025 -'WinTOTAL° appraisal software by a la mode, Inc. -1-800-ALAMODE Small Residential Income Property Appraisal Report FNe# 08111101 MB Are there h sical deficiencies or adverse conditions that affect the Nvabil ,soundness, or structural int of the rc ? Yes No B Yes, describe. This a sisal is not a home ins lion and the a raisers' are not actin as home ins ector's when re arin the re rt. When ertonnin the ins coon of this roe the a raisers visual! observed areas that were reedit accessible. The a raisers are not re uired to disturb or move an in that obstructs access or visibili .The ins edion is not technical! exhaustive. Does the ro e energy conform to tits nei hbothood nctional utll e, condition, use, construction, etc. ? Yes No ff No, describe. • Is the ro subject to rent control? Yes No ti Yes describe The fo6owing properties represent the most current similar, and pro>amate comparable rental properties to the subject property. Ttris anaysis is intended to support the opinon of the market rent for the subject property. FEATURE SUBJECT COMPARABLE RENTAL # 1 COMPARABLE RENT # 2 COMPARABLE RENTAL # 3 Address 441 S 3rd St Lemo a PA 17043-2002 27 S. Second Street Worrnle bur PA 17043 1221 Bridge Street New Cumberland PA 1 07 407 Miller Avenue New Cumberland PA 17070 Prmdm' to Sub'ect I - ',ge 1.06 miles NW 0.85 miles SE 1.42 miles SE Current Month Rerd $ 500 ? ` " - ' $ 1 145 ' ''~"' ~" "* $ 2 040 ~ ''''r^ r ~ -- ' $ 1 465 Rerd/Gross Bki .Area $ 0.20 s .ff. r` $ 0.47 s .ff. - - "` ~`:.._ $ 0.84 s .ft ~ . ~::, •" `# ` $ 0.53 s .ft Rart Control Yes No Yes No Yes Na Yes Ne Dais Sources Marlin K. ent MLS ent MLS ent MLS - Date of Leases N/A a morrth to month a Location suburban suburban suburban suburban ACpral A e 68 100+ 43 97 Condition avere e e ual a ual a ual • Gross BuiMin Area 245 2448 2 424 2 750 =~ Unit Breakdown Rm Count Size Sq. Ft Rm Count Size Sq. R Monthry Rent Rm Count Size Sq. Ft Mpnthty Rent Rm Count Size Sq. Ft Monthty Rent Tot Br Ba 2457 Tot Br Ba 2448 1 145 Tot Br Ba 2 424 2 040 Tot Br Ba 2 750 1 465 Unit # 1 5 2 2 1 561 3 3 1 1224 $ 495 3 1 1 600 $ 595 6 2 1 1 250 $ 700 Urdt # 2 4 2 1 896 3 3 1 1224 $ 650 5 2 1 912 $ 695 7 3 1 1 500 $ 765 Unft # 3 $ 4 2 1 912 $ 750 $ Unft#4 $ $ $ Utllities Included water sewer trash water sewer trash water sewer trash water sewer trash as Anatysis of rental data and support for estimated market rents for the individual subject units reported below (including tie adequacy of the rromparables, rental concessions, etC. Rerrtal 1 - Unft 1 first floor cortains a LR Kit. 8 1-bednn Unk in eve a condfion. Unt 2 2 fl. ontains a LR Kit. DR & 3-bedrrns in avere a condition. Rental 2 -Unit 1 2nd fl contains LR DR Kit 1-bedrm and bath• Unit 2 contains R K' DR 2-bedrm and bath. Unit 3 contains fCd. LR 2 bed and bath. All units are considered to be in avere a condition to ood condition. Rental - nR 1 contains a KR LR DR 2-bedrm bath & artist finished basmt.•unh 2 is has a LR DR 3-Bedrm and bath both are in avers a crond ion. Rent Schedule: The appraiser must reconcile the applicable indicated monthry market rents to provide an opinion of the market rent for each unit in the subject property. - `-Leases `~ ° ` AduafRerds _ QponortuP_kfatkeF~ent:~ Lease Date Per Unit Tohdl Per Unit Total Unit # Be in Dale End Date Urrfumished FumishM Rerds Urdu fished Furnished Rerds 1 N/A $ $ $ $ 800 $ $ 800 2 N/A 500 500 500 500 3 4 Comment on lease data Information was Total AcNal Mo Rent $ 500 Total Gros Month Rent $ 1 300 rovided b roe owner's son. Other Month Income iza $ Olirer!Mo Income temize $ Total Adual Mo Income $ 500 Tab! stimated M Income $ 1 300 • Utliftles included in estimated rerds Electric Water Sewer Gas OII Trash coNection Cable Other Comments on actual or estimated rents and other month income ndudin ersonal ro Marlin Kohler the s n o the sub'ecl's owner curve lives in the second floor a artment there is no lease in lace. Discussions with roe mane ers and landlord in t e area indicate that demand for a' artment units has increased rimari due to h' her interest rates and increased difFicu for home to a uire a mort a e. De endi on the size ual' !condition and amenities offered landbrds are raisin rents due to a lack. of irrvento nth market lace. However iven the sub'ects s¢e, condition, and locaifon we believe that the askin rent is reasonable. 1 did did not research the sale or transfer hi of the subject ro e and com fie sales. ti ex bin M research did did not reveal rior sales or transfers of the subject roe for the three ears rior to the effeCtiv date of this a sisal. Data Sources ubiic record M research did did not reveal an rior sales ar transfers of the com able sales for the ear ricr to the date of ale of the com arable sale. Data Sources ubiic record R ort the resuNs of the research and an sis of the rior sale or transfer hista of the subject ro and com able sal re art additional rior sales on a e 3 . ITEM SUBJECT COMPARABLE SALE # 1 COMP BLESALE # 2 COMPARABLE SALE # 3 Date of Prior SaWTransfer No Prior Sales No Prior Sales No Prior Saes No Prior Sales Price of Prior Sale/Transfer within the last within the last wthin the la' within the last Data Source S 36 months 12 months 12 months 12 months Effective Date of Data Scuroe s 11/25/2008 11!25/2008 1112512008' 11125/2008 sis of rior sale or transfer histo of the subject o and com arable sales neither the sub'ect or the m ambles have transferred in the time eriods listed above. Freddie Mac Form 72 March 2005 Page 2 of 7 Fannie Mae Form 1025 March 2005 Form 1025 - "WInTOTAL' appraisal software by a la mode, inc. -1-800•AL14MODE ~__ _~ Small Residential Income Property Appraisal Report F9e# oa111101MB There are 8 co arable ro erties tune offered for sale in the subject nd hborfto od ra i in 'ce from $ 152 000 to $ 275 000 There are 6 tom arable sales in the subject rei hborttood wiWn the ast twelve monti ts ran in in sale Ice from $ 145 00 0 to $ 225 000 FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 441 S 3rd St Lemo a PA 17043-2002 504 Huntington Avenue Enola PA 17025 1 Oki Depot Road New Cumberland PA 17070 228 S. High Street Mechanicsbu PA 17011 Pro>am' to Sub'ect ~ '_ 4.25 miles NW 2.84 miles SE 6.86 miles W Sale Pdce $ WA - $ 172 5D0 ~ E 166 000 $ 165 000 Sale PricarGross Bb .Area $ s .fL $ 82.69 s .ft ~ $ 59.29 S .1L : ~ " 'v S 70.45 s `'' GroSS Month Rent $ 1 300.00 $ 1 250.00 ' ~ $ 1 535.00 ~" ~ --->' $ 1 200.0 0~ Gross Rent Multi list 138.00 ~ w 108 14 .' = ~ ''F 137.50 Price er Unil S $ 86 250 - ~• ~ ' . $ 83.000 'i ~ ~ . ' ~,~~ $ 82 5001 Price er Roam $ $ 17 250 -'- $ 16 600 ~2_ ~• ~..> $ 16 500 Price er Bedroom S $ 43 125 -- - $ 27 667 `' r '?' $ 41 250 Rerrt Conbd Yes No Yes No Yes No Yes No Data Source s - 1 ' MLS# 10145967 MLS# 10164336 MLS# 10163133 ~ Verification Sources ~ ~ ublic record a ant ublic record a e M ublic record a an t VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +- Adustmerd DESCRIPTION +~ Adustment DESCRIPTION +- Ad~ustmertt Sale or Fnancing Concessions ~ 3 +- y: _ ~'' '~}r ~.~ Conv./DOM 101 CIs.Cst / Re air Conv./DOM 21 CIs.Cst / Ra air Castt/DOM 82 CIs.Cst / Re air Date of Sak/Time t ' ~"- fir'"`"' : 9/1412007 7/15/2008 8/20/2008 Location suburban suburban suburban suburban LeaseholdlFee Si Fee Sim le Fee Sim le Fee Sim le Fee Sim le Site .25 acre .35 acre .38 acre .12 acre Mew ical for the nei residential residential residential Drsi n S le Tred'Rional Traditional Traditional Treditbnai - Oual of Construction avere a inferior/alum. +3 000 inferioNalum. +3 000 a uai • Actual A e 68 62 77 100+ • Condition avere a su erior -3 000 su erior -3 000 su erior -3 D00 Gross Buildin Area 2 45 2 OS +7 400 2 800 -6 800 2 34 +2 300 Unit Breakdown Total Bdnns Baths Total Bdrms Baths Total Bdmrs Baths Total Bdrms Baths Unft # 1 5 2 2 5 2 1 +2 000 5 3 1 0 5 2 1 +2 000 ' Unft # 2 4 2 1 5 2 1 5 3 1 -2 000 5 2 1 • Unit # 3 Unft # 4 Basement Descri on Partial Part.Fin. a ual unfinished slab +3 000 ual unfinished Basement Finished Rooms Rec.Room none +2 000 none +2 000 none +2 000 Functiorial Utll avere a avers a avere a avers e Heati odi F as! none HW oil /none HW oilBEbb/none HWoil l none Ertar Effident Items iqi ical ical ical Parki ONOfi Site Off Street !Rear Off Street /Rear Off Street /Rear Off Street /Rear PorctUPatioJDeck Poroh Patio Porch +500 none +1 500 Patio +1 000 Otfwr Enclosed Poroh Enclosed Porch none +1 200 none +1 200 Other Fire lace none +2 000 none +2 000 none +2 000 2 car era a -5 000 2 car era a -5 000 Net Ad'usfineM otal - =~l==: + - $ 8 900 + - $ 900 + - $ 2 500 Adjusted Sale Price of Com arables "'~ ° ; ~ {r ,, ~ ,:-..{:_ Net Adj. 5.2 % Gross Ad'. 14.4 % $ 181 400 Net Adj. 0.5 % Gross Ad'. 14.8 % $ 166 900 Net Adj. 1.5 % Gross Ad'. 11.2 % $ 167.500 Adjusted Price Per Unit aq. sa tom r a or coma unka E 90 700 $ 83 450 _ `.= $ 83 750 . Adjusted Price Per Room pq. sr comprlorCompaooms $ 18 14G `~ $ 16 690 ~: ,. $ 16 750 ~•~ - - ~_ `." Ad'ustedPricePerBedrm(aq.srcompr•orcomveemooms S 45350 • ` $ 27817 .... ?~ . S 41 875 ,`"'T''r=}"' Value er Unit $ 88 000 X 2 Units = $ 176 000 Value er GBA $ 7 X 2457 GBA = $ 171 990 Value er Rm. $ 18 000 X 9 Rooms = $ 162 000 Value ar Bdmts. $ 44 00 X 4 Bdrms. _ $ 176 000 Summa of Sales Com ison roach includin reconciliation of the above indicators of value. Recent sales f detached 2 unR a arbnent buildi s similar in bedroom coun ross buildin area tit size and location were not available the dosed sales dis la ed reconsidered to be the most tom arable and the best indicators of value for the sub'ect roe .The tom arebles are iven e u I nsideretion. All tom arebles are of similar util' to the sub'ect roe .These tom ambles set there a of value for the sub'ect ro Gross livi area lot size ar built were obtained from Cou tax assessment records and deemed as accurate. In the.event it is determined''the an of the information from ublic records is inaccurate we reserve the ri ht to review and or revise this re rt and conclusion of values tad within. The tom ambles were ad'usted for condition due to havi su erior floorin ca et to be re laced in sub'ed . Indicated Value Sales Com son A roach $ 175 000 Total ross ma rerd $ 1300.00 X ross rent multi list GR 135 = S 175 500 Indicated value b the Income roach • Commends on income a roach includin recancillation of the GRM GRM based on the above tom ambles a d irrhouse files. Indicated Value b : Sales Com orison A roach $ 175 000 Income roach; 175 500 Cost A roach (I} develo ) S N/A Theo inion of market value conclusion stated herein is as of the effedive date of this anal is and is nb ant u on the certification and limitin conditions attached. The intended use of this re rt is for estate u ses. Most we' ht was iven to ' ales Com orison roach as R reflects the iral actions of b rs and sellers in the marks lace. The Income roach su orts the concl' sio of value. The Cost roach was not • utilized due to the a e of the sub'ect. This appraisal is made ®"as is", ^ subject to completion per plans and specifications on the basis crf a hypothetical contlition that the improvemerrts have been • completed, ^ subject to the following repairs or attarations on the basis of a hypodtetical cortditlon that the repairs or aReratibrts have been completed, or ^ subject to the followin re wired ins action based on the extraord( assum tion that the condition or deficien does not wire attar 'on or re air. No wawa of this a sisal is iven or im lied. No liabil' is assumed for the structural and/or mechanical elemerrts of the roe Based on a complete views Inapectlon o the Interior and exterior areas of the subject property, nod scope of wiork, statement assumptions and limiting condflions, and appreiser's certification, my (our) opinion of the market value, as defined, of the real property'theYis the subject of thla report Is S 175,000 as of 1 0/1 61200 8 which Is the date of Ins on and the effective date iof this a relsal. Freddie Mac Fonn 72 March 2005 Page 3 of 7 Fannie Mae Form 1025 March 2005 Fonn 1025 -'WinTOTAL' appraisal software by a la mode, iitc. -1-800-ALAMOOE -, Small Residential Income Property Appraisal Report F7~x pg111101M8 THIS IS A SUMMARY APPRAISAL REPORT COMPLETED IN ACCORDANCE W ITH THE UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE. CAST APPAEACliffl`ifALtfF not aired b Fenno Mae .: , Provide ads oats irdarmation for the lender/client to re iicate the bebw cost ores and calculatlans. Su ort for the o anion of site vdue summa of com roots land sales or other methods for estimatin site value ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SfTE VALUE ................_......................_......._.................... _$ - Source of cost data DWELLING S .Ft $ ............. _$ . Du rail from cost service Effectlve date of cast data !S .Ft $ .-.._....... =S = Comments on Cost A ach ross Ihdn area ca~ulatlons, de reciation, etc. ............. _$ The Cost roach will enerel result in a reliable estimate of value 'rf Gara dC at S .Ft $ .........._. _$ the buildi is new or reasonab new and the im rovements reflect the Total Estimate Of Cast-New -....._..... _$ h' hest and best use of the land. However en items of ical Less Ph sical nctiand External de reciton must be estimated an area of'ud emeM is involved which D reciatian _$ is sub'ed to error. The Cost roach was not utilized due to the a e of D reciated Cast of Inv rovemerdx .................................................... _$ the sub'ect. "As•is" Value of Site Inv roveme .....--------------.--------.....-------..... _$ Estimated Remainin Economic Life UD and VA on) Years INDICATED VALUE BY COST APP N ............................._...._...._... _$ .._ . - ~ .5„~i'1~O,IEGf.INFOBNATIQI4, _ ~ ~- -- _ FOR'E~B~ _ ~a _ Is the devdo er/bullder in control of the Homeowners' Association OA ? Yes No Uric s Detached Aihached Provide the followin irdormation for PUDs ONLY M the devdo er/buiider is in control of the HOA and Ure sub'ect ro is an iattached dweBin unit Le d Name of Pro'ect Total number of bases Total number of units Total number of units sold Total number of antis rented Total number of units for sale Data source s Was the ro'ect created the cawersion of e>asti builtlin s Into a PUD? Yes Na tf Yes, date of conversion. Does the ro ect contain multl-dwe8fn unitsl Y~ No Data Source Are ttre units, common demerds, and recreation facilities com lets? Yes No ti No, descdbe the status of com letion, Are the common elements leased to orb the Homeowners' Associaton? Yes No ti Yes descdbe the rental tens and o 'ons. Describe common dements and recreational facilities. Freddie Mac Fonn 72 March 2005 Page 4 of 7 Fannie Mae Form 1025 March 2005 Fonn 1025 -'WInTOTAL' appraisal software try a la mode, inc. -1.800•ALAMODE Small Residential Income Property Appraisal Report ~,~ oa,,,,o,Ms This report form is designed to report an appraisal of a two- to four-unit property, including atwo- to four-unit property in a planned unlt development (PUDj. A two- to four-unit property located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach lt as an addendum to this report. ' This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are '..not permltted. The appraiser may expand the scope of work to include any addtional research or analysis necessary bases on the complexity of this appraisal assignment. Mod'rfications or deletions to the certifications are also not pe fitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as th se required by law or those related to the appraiser's continuing education or membership in an appraisal organization,' are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity', of this appraisal assignment and the reporting requiremerrts of this appraisal report form, including the following definition oj: market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimunh: (1) pertorm a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neigh orhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from re~iable 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 Iendericlient 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 IendeUclient. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under ail conditions requisite to a fair sale, the buyer and seller, each acting prydently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation', of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller ~re typically motivated; (2) bath parties are well informed or well advised, and each acting in what he or she considers h s or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terrhs of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the nr~rmal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or salels concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or IOW in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing temt~ offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should hot be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjus'hnent should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either th property being appraised or the title to it, except for information that he or she became aware of during the research inv Ived in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opini ns about the title. 2. The appraiser has provided a sketch in this appraisal report to show the apprmdmate dimensions of the improvements, including each of the units. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Fede~l Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of thr# subject site is located in an idenfrfied Special Flood Hazard Area. Because the appraiser is not a surveyor, he or shle makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise regluired by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of'the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless ~therwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of haz rdous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and' has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The apprai~er will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to ,discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this !appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for arh appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be pertomted in a professional manner. Freddie Mac Forrn 72 March 2005 Page 5 of 7 Fannie Mae Forrn 1025 March 2005 Form 1025 - "WInTOTAL' appraisal software by a la mode, inc. -1-800-ALPIMODE Small Residential Income Property Appraisal Report Fibx 08111101M6 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subjgct property, including all units. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Un'rfonn Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The 'Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison and income approaches to value. I have adequate market data to develop'' reliable sales comparison and income approaches to value for this appraisal assignment. I further certify that I considered the cost approach to value but did not develop it, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for tihe subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this apprajsal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal6 unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable salles for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land. sale with fhe contract purchase price of a home that has been buiR or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided bye parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private delta sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the airea in which the property is located. 13. I obtained the information, estimates, and opinions famished by other parties and' expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with resplect to the subject neighborhood, subject property, and the pro~dmity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not lim~ted to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions] etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this repor#, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, e' her partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, hex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subje t property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis pro ibited by law. 18. My employment and/or compensation for performing this appraisal or any future or ;anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in Value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were s@t forth in this appraisal report. ff I relied on significant real property appraisal assistance from any individual or individuals, in the pertormance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to pertorm the tasks.' I have not authorized anyone to make a change to any item in this appraisal report therefore, any change made to this appraisal is unauthorized and I will take no responsibility for R. 20. I identified the lender/client in this appraisal report who is the individual, organizatign, or agent for the organization that ordered and will receive this appraisal report. Freddie Mac Fonn 72 March 2005 Page 6 of 7 Fannie Mae Form 1025 March 2005 Fonn 1025 -'WinTOTAL' appraisal software by a b mode, Inc. -1-800-ALAMODE Small Residential Income Property Appraisal Report FlIeAr 08111101MB 21. The lender/client may disclose or distribute this appraisal report to: the borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraiisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, air other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (ff applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the ..public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants mayi rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. ff this appraisal report was transmitted as an "electronic record" containing my "electrpnic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or ~ 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 'rf a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report miay result in civil liability and/or criminal penaltles including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that 1. I direciiy supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser idenfrfied in this appraisal report is either asub-contractor or an employes of the supervisory appraiser (or the appraisal firm), is qualified to pertorm this appraisal, and is acceptable to pertorm this appraisal under the applicable state law. 4. This appraisal report complies with the Unform Standards of Professional Appraisal Practice that were adapted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my °electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or la facsimile transmission of this appraisal report containing a copy or represerrtation 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 hiand written signature. APPRAISER -~Ant to the C~#ifi~ed~Gwe/nlerel Real Estate Apprai: Signature T-""" ~ ~l/j/~/,`~""'- i Name Mark A. Baron. Asst to PA Certfied Gen RE Appraiser Company Name Company Address 3 Lemoyne Drive, Suite 100, Lemome, PA Telephone Number (717) 315-7032 Email Address mbaron(dlrsrreattors.com Date of Signature and Report December 01.2008 Effective Date of Appraisal 1on5l2ooa State Certification or State License # or Other (describe) State # State Expiration Date of Certification or License ADDRESS OF PROPERTY APPRAISED 441 S 3rd St Lemoyne, PA 17043-2002 APPRAISED VALUE OF SUBJECT PROPERTY $ 175.000 LENDER/CLIENT Name Company Name Estate of Alice L. Kohler Company Address 441 S. Third Street. Lemoyne. PA 17043 Email Address Freddie Mac Form 72 March 2005 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name William G_g rv Rolthman PA Certified General RE Aooreiser Company Name RSR Agaraisers & Analysts Company Address 3 Ler~hoyhe Drive, suite 100, Lemoyne, PA 17043 Telephone Number (7177 76&1212 Email Address Date of Signature Decermber o1, 2008 State Certification # GAb01455 or State License # State PA F Expiration Date of Certlfication or License sl3o/2009 SUBJECT PROPERTY ^ Did not inspect subject property ® Did inspect exterior of subject property from street Date of Inspection ~l11l2008 ^ Did inspect interior anr$ 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 7 of 7 Form 1025 - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE Fannie Mae Farm 1025 March 2005 Comparable Pho~a„a Client Estate of Alice L. Kohler Pro Address 441 S 3rd St C Lemo a Cou Cumberland hate PA L Code 17043-2002 Lender Estate of Alice L. Kohler Comparable 1 504 Huntington Avenue Prox td Subject 4.25 miles NW Sales Price 172,500 Gross loving Area 1,726 Total Rpoms 10 TotalBtsdroams 4 Total Bathrooms 2 Lecatian suburban Vlaw residential Site .35 acre Quality inferiorlalum. Age 62 Comparable 2 1 Old IDepot Road Prox td Subject 2.84 miles SE Sales Brice 166,000 Gross diving Area 1,140 Total Rpoms 10 Toat B~droams 6 Total B$throoms 2 Locatioln suburban Yew residential Site .38 acre Quality inferior/alum. Age 77 Comparable 3 226 Si High Street Prox 1o'i Subject 6.86 miles W Sales Phce 165,000 Gross living Area 1,568 Total Rpoms 10 Total B$droams 4 Total B~thro0ms 2 Locatioh suburban View residential Site .12 acre Qualfty equal Age 100+ Form PICPDCCR - "WInTOTAL' appraisal software by a la mode, inc. -1.800•ALAMODE Supplemental Adden ...1 File No.08111101MB Client Estate of Alice L. Kohler Pro Address 441 S 3rd St C' Lemo a Co Cumberland State PA L Code 17043-2002 Lartler Estate of Alice L. Kohler • URAR :Adverse Environmental Conditions There are no known or apparent adverse environmental conditions that would negatively impact on the sale of the property. The appraiser has not been informed, nor has the appraiser any knowledge of the e>stence of any environmental or health impediment, which if known, could have a negative impact on the market value of the subjej;t property. The valuation contained herein is not valid if any hazardous items are found in the subject property and stated within the appraisal report, including but not limited to: Ureaformaldehyde foam insulation, Radon Gas, Asbestos Products, Lead or Lead Based Products, Toxic Contaminants. • URAR :Adverse Environmental Conditions The subject is of an age where lead based paint may be present. The market does not penalize the property, however, the client should be advised of its possible existence. It is assumed that lead based paint: is not present. If the client has a concern then a qualfied expert in this field should be contacted to inspect the subject property. • URAR :Sales Comparison Analysis - Summary of Sales Comparison Approach Gross living area and tax assessment information for comparables was obtained from County Tax Assessment Records. All sales are considered to be reliable indicators of value, and are weighted similarly in the fina'I reconciliation. Appropriate adjustments have been made for all differences. Comparable sales are all closed sales. It'is noted that the sales chosen are considered to be the best available. All comparable sales are located in the same market area as the subject property and would be considered by the same perspective purchaser. SCOPE OF WORK: Observation of the exterior and walk through observation of the interior of the property. Measuring the exterior of the dwelling. Review of the County Public Record data and Multi-List, Inc. records. Review the county tax map online information, county tax map, zoning, and FEMA flood maps. Verifying, the comparable sales with broker, agent, seller or buyer. URAR :Digital Signatures The digital signature used on this report is an exact replica of the appraiser's actual signature. The digital signature has not been altered and is downloaded from the program by the appreiser. The digital signature is password protected to avoid improper usage. The digital signature should be considered equal to an original signature 0f the appraiser. Some adjustments exceed market guidelines but were deemed necessary to provide a reliable indication of value for the subject in its as-is condition. Note: it was necessary for the appraiser to widen the market search to obtain comparables with similar utility, style, effective age, and sales dates reflective of current market conditions. Based on appraisal practice wlith emphasis placed on weighting the elements of comparison, the sales chosen represent the best indication of the subject current market value. In the appraiser's opinion, the sales chosen best weigh the elements of comparison, and while th~ distance from the subject property is important, various factors within the elements of comparison require a wider than one milje radius search. Note: Mark Baron was the assistant to the PA State Certified General Appraiser and assisted with this report and rendered signficent-assistance in all aspects of its preparation and inspection. DEFINITION OF MARKET VALUE The definition of Market Value "is from regulations published by federal regulatory agencies) pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 199b, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC).',This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the''Interegency Appraisal and Evaluation Guidelines, dated October 27, 1994. SPECIAL LIMITING CONDITIONS: This appraisal is not a home inspection and the appraisers' are not acting as home inspector's when preparing the report. The borrower has the right to have the home inspected by a professional home inspector. Whe~h performing the inspection of this property, the appraisers visually observed areas that were readily accessible. The appreis~rs are not required to disturb or move anything that obstructs access or visibility. The inspection is not technically exhaustive. The inspection does not offer warranties or guarantees of any kind. The appraisers are not home or environmental inspector's. The appraisers provide an opinion of value. The appreisai does not guarantee that the property is free of defects or environmental problems. The appraisers pbrforns an inspection of visible and accessible areas only. Mold may be present in areas the appraisers cannot see. A professional home inspection or environmental inspection is recommended should the client have a concern. Fonn TADD -'WinTOTAL' appraisal software by a la mode, inc. -1.80D-ALAMODE -----.. Slunnlemental Addenld__.~ FIeNa.0R111~0'IMB Client Estate of Alice L. Kohler Ro Address 441 S 3rd St C Lemo a Cou Cumberland State PA L Code 17043-2002 Lender Estate of Alice L. Kohler Supplemental Certifications: I certify that, This SUMMARY APPRAISAL REPORT was prepared by William Gregory Rothman, assisted by Mark A. Baron, Assistant to the PA Certified General Real Estate Appraiser for the exclusive use of (intendled wiser/client). The intended use of this appraisal report is for estate settlement purposes. Estimated market value is the most probable price in terms of cash or in terms of financial arrangements equivalent to qsh. The information and opinions contained', in this appraisal set forth the appraisers best judgment in light of the information available at the time of the preparation bf this report. Any use of this appraisal by any other person or entity, or any reliance or decisions based on this appreisal',are at the sole responsibility and at the sole risk of the third party. I accept no responsibility for damages suffered by any third ptary, as a result of reliance on or decisions made or actions taken based on this report. In my opinion, the reasonable exposure time linked to the value opinion is up to 180 days. I further certify that, to the best of my knowledge and belief: - The stethments of fact contained in this report are true and cornett. - The reported analyses, opinions, and conclusions are limited ohly by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. - I have no present or prospective interest in the property that is the subject of this report or to the parties involved with this assignment. - My engagement in this assignment was not contingent upon developing or reporting predetermined results. - My compensation for completing this assignment is not continglant upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, tthe amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to~the intended use of this appraisal. - My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standard of Professional Appraisal Practice. - William Gregory Rothman and Mark A. Baron have made a personal inspection of the property that is the subject of this report. William Gregory Rothman PA State Certified General Real Estate Appraiser Form TADD -'WInTOTAL" appraisal software by a la mode, Inc. -1-800-ALAMODE - i --- - - __ _ _ __ Copy of the D~ (;ECOf'=•~': vF SEEDS C!~-•ti3ritl_AN~ COUIy7Y-F,'~ DEED 'dl RFR S Rf~ 11 1'i ~~ Psrcal Number 12-Z2-0822-214 THIS INDENTURE, made the mot... day of r~ in the year Two Thousand One (2001). BETWEEN ALICE LOUISE KOHLER, a widow, of the Borough of Lemoyne, Cumberland County, Pennsylvania (the "Grantor"), AND - ALICE L KOHLER, TRUSTEE OF THE ALICE L. KOHLER REVQCABLE LIVING TRUST UNDER DECLARATION DATED MARCH 8, 2Q01 (the "Grantee"). WITNESSETH, That Grantor, for and in consideration of the sum of ONE DOLLAR ($1.00) and other good and valuable consideration, lavuful money of the United States of America, well and truly paid by the Grantee to the Grantory at and before the sealing and delivery of these presents, the receipt whereof is hereby acl};nowledged, has granted, bargained, sold, aliened, enfeoffed, released, conveyed and confimrhed, and by these presents does grant, bargain, sell, alien, enfeofF, release, convey and con~irm unto the Grantee, its heirs and assigns, the following: All THAT CERTAIN lot of ground situate in the Bo~ough of Lemoyne, County of Cumberland and Commonwealth of Pennsylvalnia, bounded and described as follows, to wit: 6EGINNING at a point on the west (or southwest) !side of Rossmoyne Street (now South Third Street), at line of property now or formerly of Harry Bowman, said point being one hundred (100).feet from 1:he west comer of Rossmoyne (now South Third Street) and Walton Streets, on'the plan of "Lower Walton" laid out by the Trustees of the Estate of James (McCormick, dated October 1, 1915, and recorded in the office for the recording of Deeds, etc_, in and for said County of Cumberland, in Plan Book 1, at'' page 204; thence southwestwardly by the line of said property now or ''.formerly of Hany Bowman (lot No. 11 on said plan) and parallel with Walton Street, two hundred seventeen and eight-tenths (217.8) feet to the line of Lot No, i 5, now or late of Walter Porter (which was by clerical error called art of Lot No. 4 in the deed to William Bowen); thence northwestwardly alo~ig said Lot No. 15 fifty (50) feet to Ilne of property now or Formerly of F.A. 1kViesemann; thence northeastwardly by the line of said property now or ',formerly of F. A. Wiesemann and parallel with Walton Street two hundred seventeen and eight- Fonn SCNL~L - "WinTOTAI" appraisal software by a la mode, Inc. -1-800-AIAMODE Copy of the .. .,, .,~ tenths (217.8) feet to Rossmoyne Street (now South Third Street); and thence southeastwardly along Rossmoyne Street (now South Third Street) fifty (50) feet to the place of beginning. HAVING thereon erected a two and one-half story brick dwelling house known and numbered 441 South Third Street, Lemoyne, Pennsylvania. BEING the same premises whith Alice Louise Drinknvater Kohler and Marlin Ellsworth Kohler, her husband, by deed dated August 11, 1950 and recorded August 15, 1950 in the Cumberland County Office pf the Recorder of Deeds in Deed Book K, Vol. 14, Page 587, granted and Conveyed unto Alice Louise Kohler and Marlin E. Kohler, wife and husband. T,he said Marlin E. Kohler died November 30, 1987 thereby vesting title in Alice Louise Kohler, also known as Alice L. Kohler, the Grantor herein. UNDER AND SUBJECT, NEVERTHELESS, to all budding restrictions, zoning regulations, easements, rights-of--way, reservations and restrictions, either of record or visible on the property herein conveyed,'' and subject to all rights of and ownership in public roads, streets and highways, whether or not opened. TOGETHER with all and singular the tenements, hereditaments and appurtenances to the same belonging, or in anywise appertainln~ (including all right, title and interest of Crantor in and lying in the bed of any streets, roalds or alleys bounding or abutting the same), and the reversion and reversions, remainder an~l remainders, rents, Issues and profits thereof; AND ALSO all the estate, right, title, interest, property, claim and demand whatsoever, both in law and equity, of the Grantor, of, i in, to or out of the said premises, and every part and parcel thereof. TO HAVE AND TO HOLD the said lot of land, with all and singular the premises herein described together with the appurtenances, unto the Grantee, its heirs and assigns, to and for the only proper use and behoof of Grantee, its hdirs and assigns, forever. AND the Grantor, for her heirs and assigns heteb~ covenant and agree to warrant specially and forever defend all and each of the heredity ents and premises herein above-described and granted, or mentioned and intended so tv b~', with the appurtenances, against all and every other person or persons, whomsoever, lawful) claiming or to claim the same or any part thereof, by,.from or under It, him, her, them or any of them. Form SCNLGL - "VYnTOTAL° appraisal software by a la mode, inc. -1-800-~LAMDDE Copy of the ~~ IN WITNESS WHEREOF, the Grantor, has caused this. Deed to be executed the day and year first above written. GRANTOR: f~~~e~J Alice Louise Kohler a/k/a Alice L. Kohler COMMONWEATLH OF PENNSYLVANIA SS: COUNTY OF.~'-(?ti~ "~ ~On this ~-1~''` day of ~__, 2001, before me, a Notary Public, the undersigned officer, personally appeared Alice Louise Kohler, alsoknown as Alice L. Kohler, known to me (or satisfactorily proven) to be the person whose rhame is subscribed to the within document and acknowledged that she executed the sam@ for the purposes therein contained. IN WITNESS WHEREOF, I have hereunto set my hared and notarial seal. Notary Pu My Commission Expires: (SEAU NaWW Saal qtly L La12l1, NOUry PWlle HpMYbyey, pwphln County AiY Cortan4alon Eaplras Oec. 2, 2002 MNrn~t'nMavNania FK90cIaUOn of Notari25 Fann SCNLOL - "WinTOTAL' appraisal soilware by a la mode, inc. - t-800-14LAMODE __ - __ I Copy of the ~~ ~: CERTIFICATE OF RESIDENCE I hereby certify that the precise residence of the Grantee herein is as follows: P.lice L. Kohler, Trustee of The Alice L. Kohler Revocable Living Trust 441 Sauth Third Street Lemoyne, PA 17043 Attom~j' Grants . - ...~ COMMONWEALTH OF PENNSYLVANIA 55: COUNTY OF CUMBERLAND RECORDED in the Office of the Recorder of DeeQJs, etc., in and for said County, in peed Book No. ~, Vol. ~, page ____: WITNESS my hand and official seal this __ day of , 2001. Recorder of Deeds .. . _ ., ay 1~(E i :.. .'^YNE PA 1 , ~~ ~: ~ rlr~~ l.'~ ~ ~.~ ~ ;. ~ ,' 1 Certi.:`=., this . '.,,'.,;~led In ('uu•~taerl:~: ".'~ c14~: . ): `- [~eeas .. ~:ic: .. .;~ Farm SCNLGL -'WinTOTAL" appraisal software by a la mode, Inc. -1-800{ALAMODE Tax Parcel Form SCNLGL - "WInTOTAL" appraisal software by a la made inc• - t'gpp'~t,pMUDE Building Ske Client Estate of Alice L. Kohler Pro Address 441 5 3rd St C Lemo a Cou Cumberland State PA L Code 17043-2002 Lender Estate of Alice L. Kohler is.o' ~-~ I Patro I 19.0' Bedroom Bath 0 0 ~ Bath m a.o' t2.o' m Porch Bedroom ' o ~ I Porch ; 28 ~ 0' I 6.0 , I . Kitchen Kitchen Bedroom Dining Roo N m Laundry ~ ~ Bath L'N1ng Room Living Room Bedroom Foyer ~ 28.0' ~ 0 28.0" o ~ ~ Enclosed Porch ~ m i J 27.0' a.unnrro.rv- Commenh: Cods AREA CALCULATIONS SUMMARY Descrlptlon Nst Sim Ns! Tolals GaAl First Floor 1561.0 1561.0 G8a2 S~coad Floor 896.0 696.0 P/P aaclosad porch 21fi.0 Patio 266.0 Porch 68.0 Porch 72.0 602.0 Net BUILDING Area (Rounded) 2457 BUILDI~JG AREA BREAKDOWN ~akdown SubEOrals Fi.rat Floor 19.0 : 35.0 665.0 26.0 z 32.0 69fi.0 Sacoad Floor. 29.0 z 32.0 696.0 3 ftems (Rounded) 2457 Form SKT.BIdSkI -'WInTOTAL' appraisal software by a la mode, inc. -1-800-pLAMODE _ ___ _ ~! Location M Client Estate of Alice L. Kohler Pro Address 441 S 3rd St C Lemo a Cou Cumberland State PA L Code 17043-2002 Lender Estate of Alice L. Kohler war' `-' a la mode, inc: me xne.ans uue«.nwar a o- s wne a~an pp ~L - a ` ~ ~yRd ... ~ Ja2el ~ 'Aa Sin9srsvdk C~', P R.cH,q ~ . - ..-. " as - ,.- ~ -`i ~y~~x~Trf~'e' ....DaupNn ~`~. ' ...--. r .' ' - pR a - ~ f t- 7 J.gt~Rd~s-~-_ C°"' 'ff°` ^"~1~ ~. - - Hau Y K~.fr Rd ~ ~.,,i•:aA Hcaur~ ,dpp >" Q °rw~a.nnral pia _..-.-- 3C ~ a -~ MarysvAN i ~sl°q di n Tanam ' ~a6A~--"- ~ '~,f Y+ P E N.-~ N iS Y L~ Y A N I A - t3lamrafa Yei~Rd - ~x ~ '~ !~ - __..._._ ColonialCra~s;. D A EaauAxt Farms ~ -.. H --I ° r ~_ L Me Plenard F{dh . - ~ :. b - rte' Overvw ~ ~ `} ~ oAflndaOr Famia ° ~ ~~" ° ~?a...... Pra~la ~ }, EiplfRd ~ RldgaWew .°R.p~ ~ ~ N m a ~G B A, Yf+`ti~ ~ ~ ~ P.!(Ofl ~ WI[1dlW MaflOf ¢ ~aq Vicw `x SmM[x _ ~ ~ p~ Wis ~og `~~ edOOd FInPa 4 3y a,_-, ~ .. I Subject -' + 441 S. Third Street °~!r of ~~ gb !3 sf' ~ ~ ' ~ P~° E^uM ° OwotuMra - E.taf.a ,,,..,-,fAV,at Ln- -OKaN C.ardam .. d~ Lalwlew, - H _:.,, ~~ ~ ' _ - - ~YRy pa Gar~riaw Ffainr -gt .~` E~ Sa RdtMrr cP ;. 9~ ..~. pnrMOa a Ruthatfotr ~ '~-~ ~ D~.~~olghts ~~ ~ ~ ~r'W 5t ~' ~ `~ ~~~ . ,~ ~.~• - I ;~ s`. ~.~~v , y ~~~ e Rd l tlu.~ O ram ~° - Y ` t _.i- R p _ ~°^a"0Od :-,,.. e ... SA~~ a i haT cacti g @3 `_ tiipf+aplro ° i-' .~ ae'Q°9 Ra , ~" Rd V ~` ~'k'Fj eta) ~° ~ ~~:..LiYwm.-'-- q* ~Re ~ oPhln `y gowmanwid._.4~Go~ ,,..~. ~v ~ . _ ~~ ._..F ~~- Rd .._ r_ -~ ^`~ ~ ~ ~ Rd ~ ~ a, Z '$~°Nau~vo '~ ~ { Yooumtown . YaAay GrMln s Groirnl~, $ m ,. o"'+•r Rd i ...,.,,{{~ y µ $ ~ya"°'"4 ~ do- G ~' $ ~ _ , .' s ,~ .ems, Ra"' t ~aaa~~ J ;sdd~,.n~ '~ c .p~ a' ~' ~ t7 Rd ~~ ~ ~ QP -~~.t loft Ploaaant '° C ~Alry ~. -q'.J '' ,ems - ~ y WaadWe • BW a oP'e~atawn 4 '~ ~`` P4 ~ _ U 3Qaq. Rd ~ ?pd ~ ~y .:,. yam. - ,~ 8,~y \2* -~M`fodaRd.9l.wn > ~ 4o yMayyevm~ 11 - - ; r , ~F ~~ ~~._.--W.; ~ u ~ e~n.rRd ~rdtw f '' T p Yb~ ~ is ~ ~,7~--"911J3~Cnprsv ~^JOS ~9 Form MAP.LOC -'WInTOTAL' appraisal software by a la mode, inc. -1-800-kLAMODE