HomeMy WebLinkAbout02-09-10 (3)_ _ _ __
1505607121
REV-1500 EX (06-05) OFFIC{AL USE ONLY
PA Department of Revenue
Bureau of Individual Taxes County Code Year File Number
Po Box 2sosol INHERITANCE TAX RETURN 2 1 0 9 0 0 8 5 7
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
1 7 6 5 2 0 7 9 2 0 7 3 1 2 0 0 9 1 2 2 8 1 9 5 7
Decedent's Last Name Suffix Decedent's First Name MI
B A I L E Y R I C K D
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
Spouse's Social Security Number
FILL IN APPROPRIATE OVALS BELOW
0 1. Original Retum ~ 2. Supplemental Return ~ 3. Remainder Return (date of death
prior to 12-13-82}
4. Limited Estate ~ 4a. Future Interest Compromise (date of ~ 5. Federal Estate Tax Return Required
death after 12-12-82)
6. Decedent Died Testate ~ 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes
(Attach Copy of III) (Attach Copy of Trust)
9. Litigation Proceeds Received ~] 10. Spousal Poverty Credit (date of death ~ 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. O)
CORRESPONDENT -THIS SECTION MUST t3E GOMPLtTtu. ALL GUKKtSF'uNUtNCt nnu cunrwtn ~ u~L i ~ mrurcMAi wn snvu~u tst uircec i to i ~:
Name Daytime Telephone Number
R O G E R B I R W I N E S Q U I R E 7 1 7 2 4 9 2 3 5 3
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
Firm Name (If Applicable)
I R W I N & M c K N I G H T P C•
First line of address
6 0 W E S T P O M F R E T S T R E E T
Second line of address
City or Post Office
C A R L I S L E
State
P A
REGISTER OF WILLS USE ONLY
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Correspondent's a-mail address:
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Under penalties of perjury, i declare that 1 have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is ,correct and complete. Dedaratian of preparer other than the personal representative is based on all information of wh'~ch preparer has any knowledge.
IGN O P N P IB FOR FILING RETURN ~~ DATE lU
RESS
44 CENTER ROAD NEWVILLE PA 17241
SIGNATUR F PREPARER O~ HER Tji14N~R`EPRESENTATIVE DAT
~^~ t
ADDRESS
60 WEST -0 RET STREET CARLISLE _ PA.17013
PLEASE USE ORIGINAL FORM ONLY
Side 1
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'C22L09S054
~ REV-1500 EX Page 3
Decedent's Complete Address:
File Number
21 d9 00857
DECEDENT'S NAME
RICK D. BAILEY
STREET ADDRESS
44 CENTER ROAD
CITY
CARLISLE STATE
PA ZIP
17013
Tax Payments and Credits:
1 • Tax Due (Page 2 Line 19) (1) 2, 557.64
2. CreditslPayments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
Total Credits (A + B + C) (2) 0.00
3. Interest/Penalty if applicable
D. Interest
E. Penalty
Total Interest/Penalty (D + E )
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund.
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
(3)
0.00
(4) 0.00
(5) 2, 557.64
(5A)
(5B) 2,557.64
Make Check Payable fo: REG/STER 4F WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred : ................................................................. ..... ^
^
b. retain the right to designate who shall use the property transferred or its income; .......................... .....
^
c. retain a reversionary interest; or .......................................................................................... ......
^ 0
d. receive the promise for life of either payments, benefits or care? ................................................. ......
2. If death occurred after December 12,1982, did decedent transfer property within one year of death
^
0
without receiving adequate consideration? .................................................................................
"
" ......
^
or payable upon death bank account or security at his or her death? ...
intrust for
3. Did decedent own an ......
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ............................................................................................ ...... ^ 0
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1,1994 and before January 1,1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is three (3) percent [72 P.S. §9116 (a) (1.1) (i)].
For dates of death on or after January 1,1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased childtwenty-one years of age or younger at death to or for the use of a natural parent, an
adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in
72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
~ REV-1502 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE A
REAL ESTATE
ESTATE OF FILE NUMBER
RICK D. BAILEY 21 09 00857
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real roe which is Intl -owned with ri ht of survivorshi must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. 44 CENTER ROAD, NEWVILLE, PENNSYLVANIA 17241 95,000.00
TOTAL (Also enter on line 1, Recapitulation) ~ $ 95,000 00
(If more space is needed, insert additional sheets of the same size)
~ REV-1508 EX + (6-98)
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC.
IN RES DAENT D EDENTRN PERSONAL PROPERTY
ESTATE OF FILE NUMBER
RICK D. BAILEY 21 09 00857
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. PERSONAL PROPERTY -APPRAISAL ATTACHED 69,004.65
ADJUSTED DUE TO DUMP TRUCK VALUE -SOLD FOR $48,239.65
2. ~ M&T BANK -CHECKING ACCOUNT #9843771883 ~ 26.45
TOTAL (Also enter on line 5, Recapitulation) I $ 69,031.10
(If more space is needed, insert additional sheets of the same size)
~ REV-1509 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
ESTATE OF
RICK D. BAILEY
SCHEDULE F
JOINTLY-OWNED PROPERTY
FILE NUMBER
21 09 00857
A. FRANCES BAILEY
B FREDA NEIDIGH
c
3510 ENOLA ROAD MOTHER
CARLISLE, PA 17015
44 CENTER ROAD FRIEND
NEWVILLE, PA 17241
JOINTLY-OWNED PROPERTY:
ITEM
NUMBER LETTER
FOR JOINT
TENANT DATE
MADE
JOINT DESCRIPTION OF PROPERTY
INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR
IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET °~ OF
DECD'S
INTEREST DATE OF DEATH
VALUE OF
DECEDENT'S INTEREST
1. A. MEMBERS 1ST FEDERAL CREDIT UNION 2,834.53 33.3 943.90
SAVINGS ACCOUNT #124429-00
2. A/B MEMBERS 1ST FEDERAL CREDIT UNION 412.33 33.3 137.31
CHECKING ACCOUNT #124429-11
TOTAL (Also enter on line 6, Recapitulation) I a 1,081 21
(If more space is needed, insert additional sheets of the same size)
If an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G.
SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIONSHIP TO DECEDENT
REV-1511 EX + (10-06)
SCHEDULE H
COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES &
INHERITANCE TAX RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
RICK D. BAILEY 21 09 00857
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. EWING BROTHERS FUNERAL HOME 2,581.52
2. CEMETERY LOT AND OPENING 575.00
B.
2.
3.
4.
5.
6.
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
Name of Personal Representative (s)
Street Address
City
Year(s) Commission Paid:
State Zip
Attorney Fees IRWIN & MCKNIGHT, P.C. 8,000.00
Fatuity Exemption: (If decedents address is not the same as claimants, attach explanation) 3, 500.00
Claimant AMANDA R. BAILEY _
Street Address 44 CENTER ROAD
city NEWVILLE state ~'A zip 17241
Relationship of Claimantto Decedent DAUGHTER _
Probate Fees REGISTER OF WILLS 242.00
AcxountanYs Fees
Tax Return Preparer's Fees PATRICIA A. ROSENDALE, CPA I 350.00
7. NOTARY 25.00
8. REGISTER OF WILLS -FILING FEE 30.00
9. REGISTER OF WILLS -SHORT CERTIFICATES 35.00
10. THE SENTINEL -ESTATE NOTICE 187.54
11. ROY D. GOTTSHALL -APPRAISAL ON PERSONAL PROPERTY 55.00
12. STEVEN W. BARRETT -APPRAISAL ON REAL ESTATE 350.00
TOTAL (Also enter on line 9, Recapitulation) $ 15.931.06
(If more space is needed, insert additional sheets of the same size)
• REV-1512 EX + (12-03)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE t
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
ESTATE OF r~~~ numa~n
RICK D. BAILEY 21 09 00857
Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
See Attachment Page(s)
TOTAL (Also enter on line 10, Recapitulation) I $
(If more space is needed, insert additional sheets of the same size)
__ _
• Continuation of REV-1500 Inheritance Tax Return Resident Decedent
RICK D. BAILEY 21 09 00857
Decedent's Name Page 1 File Number
Schedule I -Debts of Decedent, Mortgage Liabilities, ~ Liens
ITEM
NUMBER
DESCRIPTION
AMOUNT
1. M&T BANK -PAYOFF FOR DUMPTRUCK 48,239.65
2. SPRINT -CELL PHONE 121.68
3. DISH NETWORK -CABLE 64.64
4. DIAMOND CREDIT UNION -MOTORCYCLE PAYMENTS 516.56
5. EDMIL FUELS -DUMP TRUCK FUEL 456.73
6. ERIE INSURANCE -HOMEOWNERS INSURANCE 239.00
7. CITI MORTGAGE -MORTGAGE PAYMENTS 2,100.00
8. IWS -TRASH 74.45
9. ADAMS ELECTRIC -ELECTRIC 113.29
10. EMBARQ -TELEPHONE 53.50
11. SHIRLEY ARMOLD -REAL ESTATE TAXES 1,357.51
12. ACME ROCK GRINDING -TOPSOIL -OUTSTANDING BILL 1,250.00
13. ERIE INSURANCE -CAR INSURANCE 441.00
14. M&T BANK -DUMP TRUCK PAYMENT AND INTEREST 1,250.50
15. FAMILY MEDICAL -MEDICAL 99.95
SUBTOTAL SCHEDULE I ~ 56,378.46
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
RICK D. BAILEY
Decedent's Name
Page 2
21 09 00857
File Number
Schedule 1-Debts of Decedent, Mortgage Liabilities, & Liens
ITEM
NUMBER
DESCRIPTION
AMOUNT
16.
17. SMART MED -MEDICAL
CITI MORTGAGE -OUTSTANDING MORTGAGE BALANCE 142.06
37,718.53
SUBTOTAL SCHEDULE I 37,860.59
GRAND TOTAL SCHEDULE I $ 94,239.05
REV-1513 EX + (g-0o)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE J
BENEFICIARIES
ESTATE OF
FILE NUMBER
RICK D. BAILEY 21 09 00857
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS [include outright sppousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
1. AMANDA RENA BAILEY Lineal 53,318.86
44 CENTER ROAD
NEWVILLE, PA 17241
2. RICHARD DEAN BAILEY Lineal
44 CENTER ROAD
NEVWILLE, PA 17241
3. FRANCES S. BAILEY Lineal 811.72
3510 ENOLA ROAD JOINT ACCOUNT
CARLISLE, PA 17015
4. FREDA K. NEIDIGH Collateral 811.72
44 CENTER ROAD JOINT ACCOUNT
NEVWILLE, PA 17241
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
fir more space Is neeaea, InseR aaalnonal sneers of the same s1zeJ
__ _ _ _
•
S. W. Barrett Real Estate 8 Appraisal Services
hll2 N0.
APPRAISAL OF
LOCATED AT:
44 Center Road
Newville, PA 17241-9430
CLIENT:
Irwin 8 McKnight
60 West Pomfret Stn:et
Carlisle, PA 17013
AS OF:
July 31, 2009
BY:
Stan A. Skowronek
Certified Residential Appraiser
S. W. Barrett Real Estate ~ Appraisal Services
Fite na.
09/21 /2009
Irwin 8 McKnight
60 West Pomfret Street
Carlisle, PA 17013
File Number: 09-0404
In accordance with your request, I have appraised the real property at:
44 Center Road
Newville, PA 17241-9430
The purpose of this appraisal is to develop an opinion of the defined value of the subject property, as improved.
The property rights appraised are the fee simple interest in the site and improvements.
In my opinion, the defined value of the property as of July 31, 2009 is:
$95,000
Ninety-Five Thousand Dollars
The attached report contains the description, analysis and supportive data for the conclusions,
final opinion of value, descriptive photographs, assignment conditions and appropriate certifications.
Respectfully submitted
~q ~
Stan A. Skowronek
Certified Residential Appraiser
Summary
Residential Appraisal Report File No. 09-0404
The purpose of this appraisal report is to provide the client with a aedible opinion of the defined value of the subject property, given the intended use of the appraisal.
ClientName/lntended User Irwin 8 MCKni ht E-mail N/A
client Address 60 West Pomfret Street c' Carlisle state PA zi 17013
Add'Nional mended users The Intended User of this a sisal re rt is the Client. No additional intended Users are rmitted without
. the rmission of the a raise s .
Intended use The Intended Use is to evaluate the ro that is the sub'ect of this a sisal to rovide the Client with an
accurate and ad uatel su rted o inion of value.
Pro Address 44"Center Road C' Newville state PA zi 17241
Owner of Public Rei:ord'Beile RiC D: Coun Cumberland
L Descri ' n Deed~Book 30Y' 231
Assessors Parcel #;.43-06=0037-009 Tax Year 08/09 R.E. Taxes $ 1 413.00
Ne' hborhood Name .U r':Frankford Townshi Ma Reference 06-0031 Census Tract 0130.00
Pro R' hls raised X Fee Sim le Leasehold Other describe
M research did X did not reveal an rior sales or transfers of the sub' ro for the three ars rar to the effective date of this sisal.
Prior Sale/Transer: Date 10/19/1984 Price s25 000 Sources Courthouse
Anatysis of prior sale or transfer history of the subject property (and comparable sales, 'rf applicable) COm ratite #3 transferred on March 20 2008 for 61.00.
Offerings, options and contracts as of the etfecWe dye of the appraisal N/A
,~,,, ; ~..~r ` One~Un;ItzHousing~~ fends~ One=UniYNousing. PresencCandUSe%
Location Urban X Suburban Rural Pro Values Increasin X Stable Declinin PRICE AGE One-Unit 25 %
Buil-U Over 75% X25-75% Under 25% Demandlsu Sho X In Balance Over Su 000 s 2-4 Unit 0 %
Growth Ra id X Stable Slow Markets Time Under 3 mths X 3-6 mths Over 6 mths 80 low New MuIG-Fami 0 %
Neighborhood Boundaries 275 H' h 100 Commercial 0 %
180 Pred. 15 other Vac 75 %
Neighborhood Descriptan The sub'ect is located alon a seconds road in western Cumberland Coun amon st homes of va in
a e size s le and uali It is within reasonable drivin distance to ammenities such as schools sho in and
em to ant.
Market Conditions (including support for the above conclusans) See Attached Addendum
Dimensions See I al descri tion Area .78 Acre m/I shy Irre ular view O en coup
S cific Zoni Classification None known Zonin Descri tan N/A
Zoni Co Hance L al Le al Nonconformin Grandfathered Use X No Zonin II al describe
Is the highest and best use of the subject property as improved (or as proposed per plans and specificatans) the presets use? X Yes No If No, describe.
Utilities Public Other describe Public Other describe OK-site lm rovemerns-T Public Private
Electr' ' X 100 am water X Well street Macadam X
Gas San' Sewer X Se tic Alle None
site comments Private water and sanity s tams are common to the area and have no adverse affect u on marketabili
~`ENER~AL~D~SGRI~, °~ FOkJ.N~g71QtJ; ~; "~ ~F~RIOE2;D~E~SCl21~:~r0l~a,matenals . rIN,TEBIOR 'materials..
Units X One One wlAcc. unit Concrete Slab Crawl S ce Foundatan walls Stone/AV Floors C tMn /AV
# of Stories 2 Full Basement X Partial Basement Exterior walls Vin /Av Walls Panel/Drwll/Av
T X Det AtL S-DetJEnd Unit Basement Area 408 . ft Roof Surface COm oSh Ie/AV TrimlFinish WOOd/AV
X Existin Pro osed Under Const Basement Finish 0 % Gutters & Down uts Aluminum/Av Bath Floor Ca t/Av
' n S 2 Sto X outside En (Exit Sum Pum window T Double Hun /Av Bath wainscot D II/Av
Year Buift 1900 Storm Sashpnsulated Thermal/Av Car Story a None
Effective a rs 20-25 Screens Yes /Av X Drivewa # of Cars 6
Attk X None Heatin X FWA HW Radiant Amenities WoodStove s # Drivewa Surface Stone
Dro Shah Stairs Other Fuel Oil Fire laces # Fence Gar e # of Cars
Floor Scuttle Conlin Central Air Conditions PatalDeck X Porch Car ort # of t cars
Finished Heated Individual Other Pool Other Att. Det Buift-in
A liances Refri ratOr X R elOven Dishwasher D' sal Microwave WasherlD r Other describe
Finished area above rade contains: 6 Rooms 3 Bedrooms 1 Bath s 1 308 uare Feet of Gross Livin Area Above Grade
Additanal Features COVered rch.
Comments on the Improvements Im rovements are in avers a condition with no h scat or functional inade uacies noted.
Pepe 1 of 2 (pPARn~) Gerewl Purpose Apprasd Report > ~
gencralpurpase oppraisolreport
ADDENDUM
Client: InMn & McKnight File No.: 09-0404
Pr_opertY Address: 44 Center Road Case No
City: Newville State: PA Zip: 17241-9430
Neighbofiood Market Conditions
List/Sale ratio approximately 95%. I have considered relevant competitive listings and/or contract offerings in the
performance of this appraisal and in the trending information reported in this section. If a trend is indicated, I have
attached an addendum providing relevant competitive listing/contract offering data. Local multi-list data indicates
stable market in the past calendar year with no appreciation in the subjects market area, with an average marketing
time of 90-180 days. Economic trends and lending rates have remained favorable. Sales concessions are occuring
more frequerrtly; however, there is no known prevelance of unusual seller financing concessions or buydowns.
There are new homes under construction in surrounding developements, as well as resales available in the
neighbofiood:
i+uuenuum rase i of i
Summary
• Residential Annraisal Report File No. 09-0404
FEATURE SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.3
44 Center Road
Address Newville 64 E. Main Street
Newvills 17241 19 E. Main Street
Plainfield 77084 307 treason Road
Carlisle 17015
Proxim' to sub' t 2.73 miles SS W 5.09 miles E 4.87 miles ESE
sale Price $ $ 114 000 $ 112 500 $ 109 000
sale PricelGross L'ro. Area $ 0.00 . n $ 68.10 . n $ 81.29 . n $ 64.42 . n
Data sources Ins on CPMLS 10172092 CPMLS 10168735 A DataICPMLS 10161937
verification source s Courthouse Courthouse Courthouse Courthouse
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION • s uumern DESCRIPTION - s DESCRIPTION - s
Sale or Financing
Concessions N/A None, Conv
DOM 34 52,500 CI. Csts
Conv DOM 14 None,Conv
DOM 155
Date of Sale/Time NIA 01/09/2009 10/10/2008 10/13/2008
Location Suburban Suburban Suburban Suburban
LeaseholdlFee Sim le Fee Sim le Fee Sim le Fee Sim le Fee Sim to
Site .78 Ac/Av .25 Ac/Av .16 AcIAv .18 Ac/Av 2400
view O n coun Residential Residential Residential
Desi n s le 2 Sto 2 Sto 2 Sto 2 Sto
I' of Construction Averse Averse Avers Avers e
. Actual a 100+ Year's 100+ Years 95 Years 100+ Years
Condition Averse Av Good -5°k -5 700 Av Good -5% -5 625 Avers e
Above Grade raw earns Tsar sans sorts raw Bars Tae sous
Room Count 6 3 1 7 3 1 6 3 2 -4 000 6 3 1
:doss ' ' Area 15.00 1 308 . n 1 674 . R -5 490 1 384 . n -1 140 1 692 . n -5 760
Basement&Finished
Rooms Below Grade Partial Bsmt
Unfinished Partial Bsmt
Unfinished Partial Bsmt
Unfinished Partial Bsmt
Unfinished
Functional uti' Averse Averse Averse Avers e
Hea' FHAINone HWSteam/None FHAINone FHAIEBB/None
Ener Efficient Items T ical T jcal T ical T ical
Gar elCar rt None 1 Car Gars a -5 000 None 2 Car Gars -10 000
PorchlPatioloeck Porch Porches -1 500 Porch/Balcon -1 500 EnclPrchs/Pot -5 000
None None 1 Fire lace -3 000 None
NetAd'ustment Total + X - $ 17 690 + X - $ 15 265 + X - $ 18 360
Adjusted Sale Price
ofCom stiles NetAdj. -15.5%
GrossAd' 15.5%
$ 96 310 Net Adj. -13.6%
Grote 13.6%
$ 97 235 Net Adj. -16.8%
Grote '. 21.2%
$ 90 640
summa of sales Com r ison roach O inio n of value ran a is 91 000 to 97 000. Su lus acres ad'u stment is mad e at 54 000 r
acre. No site ad ustments for com table #'s 1 8 2 since the are on ublic water and/or sewer. Condition ad'ustment for
com arable #2 reflects remodeled kitchen and baths new furnace and u fade to 200am service. Condition ad ustment for
com arable #1 reflects remodeled bath and some re lacement windows. Lack of suitable com stables within the sub ect's
immediate vicini uired an ex odes search area. These are the best sales com tables known to be available.
:COST"APPROACH TO VAWE
Site Value Comments A two ar review of land sales did not locate an sales within the sub'ecYs marks therefore the o inion of
value for the site is based u n the 2004 tax assessment ad'usted for time . 2004 tax assessment - 523 000 111 °~
525 530 105°~ = 526 807 102% = 527 343 -SAY- 27 500. 2008 was redominatel stable.
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE ........................................ _ $ 27 500
Source of cost data Dwellin . FL $ ............ _ $ 0
al' ratio from cost service Effective date of cost sofa • FL $ • • • • • • • • • • • • _ $ 0
Comments on Cost A roach foss livin area calculations, de reciation, etc.
Cost A roach deemed a oor indicator of value. Estimated Gara elCar n 0 s . FL $ ............ _ $ 0
Remainin Economic Life - 35-40 ors. Total Estimate of Cost-New ............ _ $ 0
Less P Functional External
De reciation = $ 0
De reCiatedCostofl rovernents ................................ _ $ 0
"As-is" Value of Site Im rovements .... . ........................... _ $
INDICATED VALUE BY COST APPROACH ...................... _ $ NIA
INCOtiE APPROACH TO VALUE
Estimated Month Market Refit $ NIA X Gross Rent Multi lief N/A = $ NIA Indicated Value b Income A roach
Summary of Income Approach (including support for market rent and GRM) N/A
IndlcatcdValueb : SWesCom isonA roaChS95 000 CostA roaach ifdevelo s NIA IncomeA roach ifdevelo ed S N/A
The Market Data Anal is su orts m o inion of value for the sub"ect. The Cost A roach was not deemed an a ro fiats
indicator of value and therefore was not included herein. The income A roach was also deemed ins ro fiats for this
anal is.
This appraisal is made X "as is," subject to completan per plans and specifications on the basis of a hypothetical condition that the improvements have been compleed,
^ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed ^ subject to the following:
The ro has been a raised in current condition. This is for the clients use onl .
'
Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion of the defined value of the real property
that is the subject of this report is S 95,000 as or 07/31 /2009 ,which is the effective date of this appraisal.
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yeneraip~..rpus2apprnis;~lnz,,~„~~ S.W. Barrett Real Estate 8~ Appraisal Services
` ~ ~ ~ File No. 09-0404
Scope of Work, Assumptions and Limiting Conditions
Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as " the type and extent of research and analyses in an
assignment" In short, scope of work is simpy wtlatthe appraiser did and did not do during the course of the assignment k includes, but is not
limited to: the extent to which the property is identified and inspected, the type and extent of data researched, the type and extent of analyses applied
to arrive at opinions or conclusions.
The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client, other identified intended users and m the
intended use of the report. This reportwas prepared for the sole and exclusive use of the cl""lent and other identified intended users for the identified
intended use and its use by arty other parties is prohibited. The appraiser is not responsible for unauhtwrized use of the report.
The appraiser's certification appearing in this appraisal report is subject to the folklwlring txxlditiotls and to such other specific conditions as are
set forth by the appraiser in the report All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the
assignment results.
1. The appraiser assumes no responsibility for matters of a legal nature affecting the praperry appraised or title thereto, nor does the appraiser render any opinion as ro the title, which is
assumed ro be good and marketable. The property is appraised as though under responsible ownership.
2. Any sketch in this report may show approximate dimensions and is included ony ro assist the reader in visrral¢ing the property. The appraiser has made no survey of the property.
3. The appraiser is not required ro give testirrwny or appear in court because of having made the appraisal with reference ro the property in question, unless arrangements have been
previously made therero.
4. Neidrer all, nor any part of the content of this report, copy or other media thereof (including conclusions as ro the property value, the identity of the appraiser, professional designations,
or the firm witlt which the appraiser is connected), shall be used for arty purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by
anyone ro the public through advertising, public relador-s, news, sales, or other med~, without the wriroen consent of the appraiser.
5. The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice.
6. Information, estimates, and opinions furnished ro the appraiser, and contained in the report, were obtained from sources considered reliable and believed ro be true and correct
However, no responsibility for accuracy of such items furnished ro the appraiser is assumed by the appraiser.
7. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes
no responsibility for such condifions, or for engineering or testing, which might be required ro discover such tacrors. This appraisal is not an environmental assessment of the property and
should not be considered as such.
B. The appraiser special¢es in the valuation of real property and is not a home inspector, building wntracror, structural engineer, or similar expert, unless otherwise noted. The appraiser
did not conduct the intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the properly and any improvements is for purposes of
devebping an opinion of the defined value of the property, given the intended use of this assignment Statements regarding condition are based on surface observations ony. The
appraiser claims no special expertise regarding issues inclxiing, but not limited ro: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestatan,
radon gas, lead based paint, mold or emrironmental issues. Unless otherwise indicated, mechanical systems were not activated or tested.
This appraisal report shoukf not be used to disclose the condition of the property as it relates ro the presencelabsence of defects. The client is invited and encouraged to employ qualified
experts ro inspect and address areas of concern. If negative conditions are discovered, the opinion of vakre may be affected.
Unless otherwise noted, the appraiser assumes the components that constitute the subject property improvement(s) are fundamentally sound and in
working order.
Any viewing of the property by the appraiser was limited ro readily observable areas. Unless otherwise noted, attics and crawl space areas wren not accessed. The appraiser did not move
furniture, floor coverings or other items that may restrict the viewing of the property.
9. Appraisals involving hypothetical conditions related ro completlon of new construction, repairs or aiterafion are based on the assumption that such completion, alteration or repairs will
be campetenty performed.
10. Unless the intunded use of this appraisal spec'ficaly includes issues of properly insurance coverage, this appraisal should not be used for such purposes. Reproduction or
Replacement cost figures used in the cost approach are for valuation purposes only, given the intended use of the assignment. Tire Definition of Value used in this assignment is unlikey
ro be consistent with the definition of Insurable Value for properly insurance coveragebse.
11. The ACI General Purpose Appraisal Report (GPARTM) is not intended for use in transactions that require a Fannie Mae ].0041Fredd'le Mac 70 tam,
also known as the Un'dorm Residential Appraisal Report (URAR).
Additional Commenffi Related To Scope tN Work, Assumptions and Limiting Conditions
None
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File No. 09-0404
Appraiser's Certification
The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief:
is The statements of Tact contained in this report are true and correct
2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser's personal, impartial, and unbiased
professional analyses, opinions, and conclrsions.
3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties
imrolved.
4. The appraiser has no bias with respect to the properly that is the subject of this report or to the parties involved with this assignment
5. The appraiser's engagement in this assignmentwas not contingent upon developing or reporting predetermined results.
6. The appraiser's compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of
the client, the amount of the value opinion, tfre attainment of a stipulated resuh, or the occurrence of a subsequent event directy related to the intended use of this appraisal.
7. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, inconformity with the Uniform Standards of Professional Appraisal Practice.
B. Unless othenwise noted, the appraiser has made a personal inspection of the properly that is the subject of this report.
9. Unless noted below, no one provided significant real properly appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by:
Additional Certlfications:
None
Definition of Value: XC~ Market Value ^ Other Value:
Source of Definition: USPAP
The mast probable price in terms of money which a property should bring in competitive and open market under all
conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus.
ADDRESS OF THE PROPERTY APPRAISED:
44 Center Road
Newville, PA 17241-9430
EFFECTNE DATE OF THE APPRAISAL: JUIy 31, 2009
APPRAISED VALUE OF THE SUBJECT PROPERTY $ 95,000
APPRAISER SUPERVISORY APPRAISER
Signature: Signature: ~ `-Z~~--~-~ , .
Name: Stan A. Skowronek Name: Steven W. Barrett, SRPA, SRA, ASA
State certification # RL001572L State Certification # GA000298L
or License # ar License # RB026921 A
or Other (describe): State #: State: PA
state: PA Expiration Date of Certificatan or License: June 30, 2011
Expiration Date of Certification or License: June 30, 2011 Date of Signature: 09/21/2009
Date of Signature and Report: 09/21/2009 Date of Property viewing: 09/1412009 (as of 07/31/2009)
Date of Property viewing: 09/14/2009 (as of 07/31/2009) Degree of properly viewing:
Degree of properly viewing: XD Interior and Exterior ^ Exterior Only ^ D~ not personally view
XQ trtterior and Exterior ~ Exterior Ony ^ Did not personally view
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generalpurposeappraisalreport S.W. Barrett Real •Estate 8< Appraisal Services
4
• FLOORPLAN
Client Irwin 8~ McKnight File No.: 09-0404
Property Address 44 Center Road Case No.:
Ci : Newville State: PA ZI :17241
Living Bedroom
Kitchen
0
0
m
Laundry Bedroom
Bath
Dining
Sketch by Apex IV WindOwsTM'
'S
Code AREA CALCULATIONS SUMMARY
pescriptlon Size
Totals
GLA1 Firat Floor 756.00 756.00
GI.A2 Second Floor 552.00 552.00
P/P Porch 180.00 180.00
TOTAL LIVABLE (rounded) 1308
LIVING AREA BREAKDOWN
Bcsskdawn Subtotals
Firat Floor
24.0 x 29.0 696.00 i
5.0 x 12.0 60.00
Second Floor
20.5 x 24.0 492.00
5.0 x 12.0 60.00
4 Areas Total (rounded) 1308
FROM ~ v ~ PROPERTY
SUg,'IECT
Appraised Date:Q ~ Y 31,
REAK Y ~~" ' "
SUg7ECT PROPERTY
COMPARABLE PROPERTY PHOTO ADDENDUM
Cli!'nt: Irwin 8 McKnight File No ~ 09-0404
-Property Address: 44 Center Road Case No.:
City: Newville State: PA Zip' 17241-9430
COMPARABLE SALE #1
64 E. Main Street
Newville 17241
Sale Date: 01/09/2009
Sale Price: $114,000
COMPARABLE SALE #2
19 E. Main Stn3et
Plainfield 17084
Sale Date: 70/10/2008
Sale Price: $112,500
COMPARABLE SALE #3
307 treason Road
Carlisle 77015
Sale Date: 10/13/2008
Sale Price: $109,000
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Client: Irwin 8 McKnight File No.: 09-0404
Property Address: 44 Center Road Case No.:
City: Newvifle State: PA Zip: 17241-9430
Flo~afMap Legend
Flood Zones
Arars iraWalad 6ySOb-yeuAoodbg
Maas odaMM of fha 10b~ arld fit)byaar 11oo{ytlairs
Anax irtltrWstrd by 100~AIar Ilootlkly
Areas Mtrrdalarl by ta0yyaar Aaoaky r~ tMbiiy ha¢ird
F100alrray atsas
F10oQIray areas vrRt w1oCAly hazard
Anal o<~ OIA pOaslbM flbo4 hazards
Areas nor n+PPb an sty pub~shea FIRMA
Flood InformaNan
Commurtily: 421588 -UPPER FRANKFORD, TOWNSHIP OF
Property is noE in a FEMA spedal flood hazani area.
Map Number: 421588 0184E Map Qate: 20090316
Panel: 0184E FINS: 42041
Zone: X
Netlhef trana~amedca Flootl Hazartl Cartlfk~Uor1 (7FFtC j nor ACI make any
repre~sentadans a warrantlas >a any party concerning the content, accuracy or
otrmptatensss of dtia flood report, inclo~din8 any warranty of merchantability or
rttness for a parliwtar purpose. Nailltar TF HC riot AG rear the seller or fits
flood report shalt have any UaWlky aD any third parry for any use or misuse of
this flood report_
********* QUALIFICATIONS *****f4***
The following checked items are SPECIFIC SPECIAL CONDITIONS that were identified by this appraiser during the
inspection of the subject property, the comparables sales, and their neighbofioods and locations. Unless otherwise
noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET
VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home
inspection service. This is an appraisal to estimate market value.
1. The subject is located in a rural area and is less than 25% built-up.
2. Commercial/Industrial uses are located within the subject's neighbofiood. These uses are typical of similar
neighbofioods.
_x_3. Vacant and undeveloped land uses are located within the subject's neighbofiood. These uses are typical for
the area.
4. The predominant value in the neighbofiood is less than that of the market value of the subject property. This
is due to the very wide range of value of properties in the area and superior quality of the subject property.
5. The subject property is located in a F.E.M.A. Identified Flood Zone. Flood insurance coverage is required and
suggested.
6. Dampness is noted in the basement of the subject. Standing or running water was not present on basement
floor. This condition is considered typical in dwellings of his style.
x_7. The subject property is serviced by private well and/or septic systems which is common for the area.
_x_8. The subject is older than five(5) years. All mechanical systems including the heating, electrical and plumbing
systems appear upon a visual exterior inspection to be in working order. No warranties are implied in this statement.
9. Repair items were noted in the comments section of the report. These comments on repair items are for
descriptive purposes only and are not required repairs. The items listed are cosmetic in nature.
_10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a
health or safety ho=ard.
_11. The subject property does contain functional obsolescence as noted in the report. This condition is
considered typical and common for the area and this style dwelling.
_12. The land value exceeds 30% of total value due to the high demand for vacant land in this neighbofiood. This
condition is considered common and typical for the neighbofiood.
_13. The land value exceeds 30°~ of total value. This is due to the large size of the site. This condition is
considered to be typical and common.
_14. Individual adjustments were required that exceed 15°k. These adjustments were required due to lack of more
similar comparables on that individual rating. All comparables used are the best available.
_15. Total adjustments exceed 25°~6. This is due to the lack of comparable sales that were more similar in the
subject's market area. All comparables used are the best available.
_x_16. One or more comparable sales are older than six(ti) months. Although there are comparable properties in the
subject's area, none have sold recently; therefore, sales in excess of six(6) morrths have to be used. All comparables
used are the best available.
x 17. One or more comparables used were in excess of one (1) mile from the subject property. Although there are
comparable properties in the immediate area, none have sold recently. Therefore, it was necessary to use comparable
sales outside of the immediate area. All comparables used are located in similar neighbofioods and within the same
marketing area. All comparables used are the best available.
_18. The electrical system was not connected during inspection.
_19. The water service was not connected during inspection.
_20. The heating system was shut down during inspection.
_21. Roofing Plumbing Electrical Heating certification(s) is/are suggested.
_22. Inground swimming pool ,out buildings are included .not included according to lender's
guidelines.
_23. According to lender's guidelines a maximum of acres were considered for this valuation. Remaining
acreage was given no value.
f
****''**** QUALIFICATIONS *********
~24. The subject property is located on a private road.
_25. Wood infestation inspection is suggested.
x_26. Last recorded deed transfer: Date_10i19i1984 .Consideration: $_25,000
27. Proposed constructioNrenovation in accordance to plans and specifications to be completed in a workman-tike
manner.
_28. Seller is paying part or all of closing costs.
_x_29. AN comparable sales are verified closed sales.
x_30. There are no special conditions or other requirements that would affect market value or future marketability in
the Appraisal Report.
******"** QUALIFICATIONS *********
Confidentiality and Security Policy
We consider privacy to be fundamental to our relationship with clienffi. We are committed to maintaining the
confidentiality, integrity and security of clients' personal information. Internal policies have been developed to protect
this confidentiality, while allowing client needs to be served.
We restrict access to personal information to authorized individuals who need to know this information to comply with
federal standards to protect your nonpublic personal information. We do not disclose this information about you or
any former consumers or customers to anyone, except as permitted by law. The law permiffi us th share this
information with our affiliates. The law also permits us to share this information with companies that perform
marketing.
When we share nonpublic information referred to above, the infornation is made available for limited purposes and
under controlled circumstances. We require third parries to comply with our standards for security and confientiality.
We do not permit use of consumer/customer information for any other purpose nor do we permit third parties to rent,
sell, trade or otherwise release or disclose information to any other party.
Education
As of the date of this report, I andlor Steven W. Barrett, SRPA, SRA, ASA have completed the requiremenffi under the
continuing education program of the Appraisal Institute.
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499 Mitchell Road, Millsboro, DE 19966 Mail Code DE-MB-12
Phone (888)502-4349
Fax (302) 934-2955
September 18, 2009
Law Offices
Irwin & McKnight, P.C.
West Pomfret Professional Building
60 West Pomfret Street
Carlisle, Pennsylvania 17013-3222
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Re: Estate of Rick D. Bailed ~~ -~ °````~
Social Security: 176-52-0792
Date of Death: July 31, 2009 ~ ~,~~ ~~a ;~~;
Dear Sir or Madam:
Per your inquiry dated September 16, 2009, please be advised that at the time of death, the above-named decedent had on
deposit with this bank the following:
1. Type ofAccount CheckingAccount
Account Number 9843771883
Ownership (Names o,~ Rick Dean Bailey, Sole Proprietor*
Rick Dean Bailey Hauling, Doing Business*
Opening Date 10/18/07
Balance on Date of Death $ 26.45
Accrued Interest $ 0. DO
Total -----------------------------------------------------------------------------------------
$ 26.45
Please be advised, there was no safe deposit box found for the above decedent.
* If upon reviewing the information above, you believe there are additional accounts not referenced, please provide
us with an account number and/or name of any possible joint account holder. For any additional information on the
above accounts, including ownership and any changes, closures and/or reimbursement of funds, etc., please contact
our Chambersburg Main Office # 717-261-2857.
Sin erely,
Tracie Hare
Adjustment Services
i
MEMBERS 1St
FEDERAL CREDIT iJNION
SAVINGS ACCOUNT:
Account Number/Suffix 124429-00
Date Account Established 01/24/1992
Principal Balance at Date of Death $2,833.37
Accrued Interest to Date of Death $1.16
Total Principal and Accrued Interest $2,834.53
Interest Earned 01 /01 /2008 - 11 /30/2008 $10.06
Name of Joint Owner Frances Bailey
Freda Neidigh
Date Joint Ownership Established 01/24/1992
CHECKING ACCOUNT:
Account Number/Suffix 124429-11
Date Account Established 01 /24/1992
Principal Balance at Date of Death $412.01
Accrued Interest to Date of Death $.32
Total Principal and Accrued Interest $412.33
Interest Earned 01 /01 /2008 - 11 /30/2008 $1.02
Name of Joint Owner Frances Bailey
Freda Neidigh
Date Joint Ownership Established 01/24/1992
;-
°~~r.''
i fli8i '-_.Ir~y..~
ME ~ ERS 1ST FEDERAL CREDIT UNION
Danielle A. line
Insurance Services Specialist
September 18, 2009
Estate of: RICK BAILEY
Date of Death: 07/31/2009
Social Security Number: 176-52-0792
5000 Louise Drive P.O. Box 40 Mechanicsburg, Pennsylvania 17055 (800) 283-2328 wwwmemberslst.org
r
age: 1 Document Name: untitled
LOAN REQ: 0112 CURRENT FINANCIAL/PAYOFF 09/21/09 PAGE 0001 OF 0001
BANK: 10 AP: 1 OBGOR: 9965927097 OBGAT: 0000000018 BAILEY RICK DEA
DATE: 092209 HG CD: INCLUDE ESCROW AMOUNT(Y/N): Y PAGE:
RATE BASIS DAILY EARN]CNGS AMOUNT DUE
INT 100 .50000000 4 ACT 360 11.33983 260.81
PROC TYPE: 5151 CURRENT BASIC OBLGN
OBLN TYPE: 002 COLL TYPE: 545
EFF DATE 10-18-07 MAT DATE 10-30-13
SVC UNIT ; 26822 ASSN UNIT: 04353
FONT OFF EXFOi GL CODE 2000101
rKDWN OBR: PREPAY PREM: Y YES
rKDWN OBN: STAT: 0 RR ACCRUAL 0
NOT A TAKEDOWN
SECURED 2
DISC CODE 0
CURB BAL
INT E~~RNED
SECURED
NOT ENTERED
LC FF;MULA : 7 00
PN FRMUL~i : 0 0 0
AMT TO BE CURB: .00
**NO PREMIUM FEE IN PAYOFF - CONTACT ACCOUNT OFFICER!
PAYOFF AS OF 09-22-09
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ACGOlAJT1~~t Q77Q1.1
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PAYMENTS CURRENT
RECEIVED PAYMENT DUE
Date 1?124109 aZA'U10
Pnn~l 5315.46 5317.43
Interest ~~~g ~
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