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06-21-10
15056041181 REV-1500 EX (06-05) OFFICIAL USE ONLY PA Department of Revenue Coun Code Year File Number Bureau of Individual Taxes INHERITANCE TAX RETURN ry PO BOX 280601 Harrisburg, PA 17128-0601 RESIDENT DECEDENT p2~ ~~ ~ ~~ ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 195-12-2719 09272009 07211924 Decedent's Last Name Suffix Decedent's First Name MI Beam Clyde p (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Beam Diane I, Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE 182-22-8952 REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW XD 1. Original Return ~ 2. Supplemental Return 0 3. Remainder Return (date of death prior to 12-13-82) 4. Limited Estate 0 4a. Future Interest Compromise (date of 0 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 Will) (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 BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0: Name Daytime Telephone Number Richard J.A. Popper, Esquire 302-571-6652 ~~~ Firm Name (If Applicable) Young Conaway Stargatt Taylor Flrst Ilne of address P.O. Box 391 Second line of address City or Post Office State Wilmington DE ZIP Code REGISTER OF"VII~Ib,~.S USE O~Y f ~ -~ ~ ~" ~ ~ ~^ ~ ~ ' ~ ~ ~ ~ ~ -- Cr ~ _.._ ~ _ , ~~ ~ ` ~d~ ~' {J ,--_. ~_ ~= = :.~ . .. DATE FILED CJ1 19899-0391 Correspondent s e-mail address: Y'popperc~yCSt . COm Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which pre~arer has any knowledge. /SIGNA 1RE~_O'F~P.ERSO~N~ ONSI~FO~ ILA NG RETURN ~D~T a ~ l ~/ 7 29 Tunbrid e Lane, Carlisle, PA 17015 ~GNAT~ OF ~ PAR OTHE ~H~ REPS AENTgTIVE ~DAT~ ADDRESS ~ (~:' ~ P.O. Box 391, Wilmington, DE 19899-0391 PLEASE USE ORIGINAL FORM ONLY 15056041181 WK4P PAN 12I-001 109 Side 1 15056041181 J .. ~~ I~4.. } J REV-1500 EX Decedent's Name: Clyde O Beam Decedent's Social Security Number 195-12-2719 RECAPITULATION 1. Real estate (Schedule A) ............................................. 1. 0 . 0 0 2. Stocks and Bonds (Schedule B) ....................................... 2. 6 9 5 , 8 2 5.13 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3. 0 . 0 0 4. Mortgages 8~ Notes Receivable (Schedule D) ............................. 4. 0 . 0 0 5. Cash, Bank Deposits 8~ Miscellaneous Personal Property (Schedule E) ........ 5. 0 . 0 0 6. Jointly Owned Property (Schedule F) Separate Billing Requested ....... 6. 312 , 7 8 0 . 3 2 7. Inter-Vivos Transfers 8~ Miscellaneous Non-Probate Property (Schedule G) OSeparate Billing Requested........ 7. 7 , 415.2 3 8. Total Gross Assets (total Lines 1-7) .................................... 8. 1 , 016 , 0 2 0 . 6 8 9. Funeral Expenses 8 Administrative Costs (Schedule H) ..................... 9. 15 , 2 0 3 . 5 0 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) ................ 10. 0 . 0 0 11. Total Deductions (total Lines 9 8~ 10) ................................... 11. 15 , 2 0 3 . 5 0 12. Net Value of Estate (Line 8 minus Line 11) .............................. 12. 1 , 0 0 0 , 817.18 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) ........................ 13. 6 8 0 , 6 21.6 3 14. Net Value Subject to Tax (Line 12 minus Line 13) ........................ 14. 3 2 0 , 19 5 . 5 5 TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2)X.0 0 320, 195.55 15. 16. Amount of Line 14 taxable at lineal rate X .0 16. 17. Amount of Line 14 taxable at sibling rate X .12 17. 18. Amount of Line 14 taxable at collateral rate X .15 1 g. 19. TAX DUE ......................................................... 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT Side 2 15056042182 15056042182 WK4P PAN12I-002 109 15056042182 0.00 0.00 0.00 0.00 0.00 J REV-1500 EX Page 3 Decedent's Complete Address: File Number 21- 0 9- 9 7 4 DECEDENT'S NAME Clyde O Beam STREET ADDRESS 29 Tunbrid e Lane CITY Carlisle STATE PA ZIP 17015 Tax Payments and Credits: 1, Tax Due (Page 2 Line 19) (1) 0 . 0 0 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount Total Credits (A + B + C) (2) 0 . 0 0 3. Interest/Penalty if applicable D. Interest E. Penalty Total Interest/Penalty (D + E) (3) 0 . 0 0 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 0 . 0 0 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 0 . 0 0 A. Enter the interest on the tax due, (5A) B. Enter the total of Line 5 +SA. This is the BALANCE DUE. (5B) 0 . 0 0 Make Check Payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred :.......................................................................................... ^ ^X b. retain the right to designate who shall use the property transferred or its income :............................................ ^ ^X c. retain a reversionary interest; or .......................................................................................................................... ^ ^X d. receive the promise for life of either payments, benefits or care? ...................................................................... ^ Q 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. ^ 0 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. ^ 0 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 child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. WIC4P PAN12I-003 109 REV-1510 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY FILE NUMBER Clyde O. Beam 21-09-974 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the next page of the REV-1500 COVER SHEET is yes. ITEM NUMBER DESCRIPTION OF PROPERTY INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND THE DATE OF TRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE. DATE OF DEATH VALUE OF ASSET % OF DECD S INTEREST EXCLUSION (IF APPLICABLE) TAXABLE VALUE 1. IRA held at Merrill Lynch 7,416.23 100.0000 7, 415.23 Account number 872787 0.00 Beneficiary: Diane Beam o . 00 o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo o.oo WK4P PAN12I-012 109 TOTAL (Also enter on line 7 Recapitulation) (If more space is needed, insert additional sheets of the same size) 7,415.23 tEV-1511 EX+ (10-06) ~ ~ SCHEDULE H COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES & INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT ESTATE OF FILE NUMBER Clyde O. Beam 21-09-974 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1. Hoffman Roth Funeral Home 3 , 970.50 2. Westminster Cemetary 915.00 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) D 1 arie L . Beam Street Address 29 Tunbridge Lane ~;ty Car 1 i s 1 e state PA zIP 17 015 Year(s) Commission Paid: 2. Attorney Fees YOUrig Conaway Stargatt & Taylor 8,558.00 3. Family Exemption: (If decedents address is not the same as claimants, attach explanation) Claimant Street Address City State ZIP Relationship of Claimant to Decedent 4. Probate Fees 5. Accountants Fees 6. Tax Return Preparers Fees 7 5 0. 0 0 7• S.W. Barrett Real Estate & Appraisal Services - 1,010.00 appraisals of farm and home TOTAL (Also enter on line 9, Recapitulation) $ 15, 203 .50 (If more space is needed, insert additional sheets of the same size) WK4P PAN 12I-013 109 REV-1512 EX+ (12-03) ~ ~ SCHEDULE I COMMONWEALTNOFPENNSYLVANIA DEBTS OF DECEDENT, INHERITANCE TAX RETURN MORTGAGE LIABILITIES, & LIENS RESIDENT DECEDENT ESTATE OF FILE NUMBER Clyde O. Beam 21-09-974 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. (It more space is needed, insert additional sheets of the same size) REV-1513 EX+ (9-00) I i SCHEDULE J COMMONWEALTH OF PENNSYLVANIA I BENEFICIARIES fNHERiTANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Clyde O. Beam FILE NUMBER 21-09-974 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (i.2)] Diane L. Beam 29 Tunbridge Lane, Carlisle, PA 17015 Spouse 1000 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUG H 18, AS APPROPRIATE, ON REV- 1500 COVER SHEET II NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WH1CH AN ELECTION TO TAXIS NOT BEING MADE Residuary Trust Under Article 5 of the will dated August 2, 2007: $695,825.13 less amount of deductions in amount of $15,203.50. 680,621.63 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 6 8 0 , 6 21.6 3 (If more space is needed, insert additional sheets of the same size] REV-1514 EX+ (12-03) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE K LIFE ESTATE, ANNUITY & TERM CERTAIN (Check Box 4 on REV-1500 Cover Shee ESTATE OF FILE NUMBER Clyde O. Beam 21-09-974 This schedule is to be used for all single life, joint or successive life estate and term certain calculations. For dates of death prior to 5-1-89, actuarial factors for single life calculations can be obtained from the Department of Revenue, Specialty Tax Unit. Actuarial factors can be found in IRS Publication 1457, Actuarial Values, Aipha Volume for dates of death from 5-1-89 to 4-30-99, and in Aleph Volume for dates of death from 5-1-99 and thereafter. Indicate the type of instrument which created the future interest below and attach a copy to the tax return. ^ Wilt ^ Intervivos Deed of Trust ^ Other LIFE ESTATE INTEREST CALCULA~TIbN ~' '~~~ ~' •_ "NEAREST `AGE AT ~ ~ TERM OF.YJ:ARS ~" ~ ~ ~ " ~~~ ° ~ ~ NAME(S) OF LIFE TENAN~(S} .~ ; ~~~` ~ . ~ ` -~ DATE OF B1RTki a, ~ DATE"OF DEATH,; LIFE.ES7ATEIS'FAYABLE, ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years 1. Value of fund from which life estate is payable ............................................. $ 2. Actuarial factor per appropriate table .................................................... . Interest table rate-^3 1/2% ^6% ^10% ^Variable Rate 3. Value of life estate (Line 7 multiplied by Line 2) .......................................... $ 0 . 0 0 :F ~~~ ~°~ p ' ~ ~:: ~., ~_ .. ,~ ~~ANNUITY INTEREST CALCULATION „~ '' NAME(S) OF~LIFE ANNUITANT(S) . DATE OF BIRTH NEAREST;AGE AT TERM OF".YEARS~ :' -_-~-- --__-_ _ _-- ~y~- ~ ~ :~,r DATEOF~~FATFt ANNUITYISPAYABL~ ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years ^ Life or ^ Term of Years 1. Value of fund from which annuity is payable ............................................... $ 2. Check appropriate block below and enter corresponding (number) ........................... . Frequency of payout -^ Weekly (52) ^ Bi-weekly (26) ^ Monthly (12) ^ Quarterly (4) ^Serni-annually (2) ^ Annually (1) ^ Other ( ) 3. Amount of payout per period ............................................................ $ 4. Aggregate annual payment, Line 2 multiplied by Line 3 .................................... . 5. Annuity Factor (see instructions) Interest table rate - ^ 3 1 /2% ^ 6% ^ 10% ^Variable Rate 6. AdjustmentFactor(seeinstructions) ...................................................... 7. Value of annuity - If using 3 1/2%, 6%, 10%, or if variable rate and period payout is at end of period, calculation is: Line 4 x Line 5 x Line 6 ............................ $ If using variable rate and period payout is at beginning of period, calculation is: (Line 4 x Line 5 x Line 6) + Line 3 ....................................................... $ 0.00 NOTE: The values of the funds which create the above future interests must be reported as part of the estate assets on Schedules A through G of this tax return. The resulting life or annuity interest(s) should be reported at the appropriate tax rate on Lines 13 and 15 through 18. WK4P Parr12I-016 I09 (If more space is needed, insert additional sheets of the same size) REV-1647 EX+ (9-00) SCHEDULE M FUTURE INTEREST COMPROMISE COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT (Check Box 4a on Rev-1500 Cover Sheet) ESTATE OF FILE NUMBER Clvde O. Beam _ 21-09-974 This Schedule is appropriate only for estates of decedents dying after December 12, 1982. This schedule is to be used for all future interests where the rate of tax which will be applicable when the future interest vests in possession and enjoyment cannot be established with certainty. Indicate below the type of instrument which created the future interest and attach a copy to the tax return. ^ Will ^ Trust ^ Other I. Beneficiaries NAME OF BENEFICIARY RELATIONSHIP DATE OF BIRTH AGE TO NEAREST BIRTHDAY 1. 2. 3. 4. 5. II. For decedents dying on or after July 1, 1994, if a surviving spouse exercised or intends to exercise a right of withdrawal within 9 months of the decedent's death, check the appropriate block and attach a copy of the document in which the surviving spouse exercises such withdrawal right. ^ Unlimited right of withdrawal ^ Limited right of withdrawal III. Explanation of Compromise Offer: IV. Summary of Compromise Offer: 1. Amount of Future Interest ................................................................ $ 2. Value of Line 1 exempt from tax as amount passing to charities, etc. (also include as part of total shown on Line 13 of Cover Sheet) ....... $ 3. Value of Line 1 passing to spouse at appropriate tax rate Check One ^ 6%, ^ 3%, ^ 0% ........................ $ (also include as part of total shown on Line 15 of Cover Sheet) 4. Value of Line 1 taxable at lineal rate Check One ^ 6%, ^ 4.5% ............................... $ (a(so include as part of total shown on Line 16 of Cover Sheet) 5. Value of Line 1 taxable at sibling rate (12%) {also include as part of total shown on Line 17 of Cover Sheet) ....... $ 6. Value of Line 1 taxable at collateral rate (15%) (also include as part of total shown on Line 18 of Cover Sheet) . • • . • • • $ 7. Total value of Futurelnterest(sumofLines2thru6mustequalLine1)...•••••••••••••••••••••- $ 0.00 (If more space is needed, insert additional sheets of the same s+ze) REV-1649 EX+ (6-98) SCHEDULE O COMMONWEALTH OF PENNSYLVANIA ELECTION UNDER SEC.9113(A) INHERITANCE TAX RETURN (SPOUSAL DISTRIBUTIONS) RESIDENT DECEDENT ESTATE OF FILE NUMBER Clyde O. Beam 21-09-974 Do not complete this schedule unless the estate is making the election to tax assets under Section 9113(A) of the Inheritance 8~ Estate Tax Act. If the election applies to more than one trust or similar arrangement, a separate form must be filfedd for each trust. This election applies to the Trust (marital, residual A, B, By-pass, Unified Credit, etc.). If a trust or similar arrangement meets the requirements of Section 9113(A},and: a. The trust or similar arrangement is listed on Schedule 0, and b. The value of the trust or similar arrangement is entered in whole or in part as an asset on Schedule 0, then the transferors personal representative may specifically identify the trust (all or a fractional portion or percentage) to be included in the election to have such trust or sim- ilar property treated as a taxable transfer in this estate. If less than the entire value of the trust or similar property is included as a taxable transfer on Schedule 0, the personal representative shall be considered to have made the election only as to a fraction of the trust or similar arrangement. The numerator of this fraction is equal to the amount of the trust or similar arrangement included as a taxable asset on Schedule 0. The denominator is equal to the total value of the trust or similar arrangement. Part A: Enter the description and value of all interests, both taxable and non-taxable, regardless of location, which pass to the decedent's surviving spouse under a Section 9113(A) trust or similar arrangement. Part B: Enter the description and value of all interests included in Part A for which the Section y'I 1:i(A) election to tax is being made. ~4 P PANI2I-018 Io9 (If more space is needed, insert additional sheets of the same size) WILL OF CLYDE O. BEAM I, CLYDE O. BEAM, of Cumberland County, Pennsylvania, declare this to be my will and revoke all my prior wills and codicils thereto. ARTICLE 1: Definitions: A. "Executor" is the personal representative of an estate, and when more than one is designated or is serving, any or all collectively as appropriate in context may be referred to in the neuter gender. B. "Trustee" is the fiduciary or fiduciaries of a trust, and when more than one is designated or is serving, any or all collectively as appropriate in context may be referred to in the neuter gender. C. "Fiduciary" (unmodified) is both executor and trustee or either. D. "Or" connotes both conjunctive and disjunctive usage unless inappropriate in context. E. "Federal marital deduction" or "marital deduction" is the deduction allowable under Section 2523 or Section 2056, or both, of the Internal Revenue Code, applicable in determining the base for federal estate and gift taxes. F. "My wife" is DIANE L. BEAM. G. "My children" are STEVEN S. BEAM, JANICE M. KIRKLEY, and PATRICIA D. SHAMBAUGH. H. "Issue" includes biological children, children who were adopted while under the age of 18, and children in the custody of the adopting parent at the time of the event which requires determination of the class of such individuals, in respect of whom adoption proceedings have been commenced while the child is under the age of 18. My intention is that both a person legally adopted while under the age of 18 and a person in the process of being Legally adopted while under the age of 18 shall be treated as a child of the adopting parent or parents. Whenever terms are stated in the masculine or feminine gender, they shall be construed as applying to the opposite gender as appropriate in context. If terms are stated in the singular or plural, they shall be deemed to be opposite as appropriate in context. DB02:6078815. I 036039.100 I .., ~ ^~ ~ ~~ All references to the Internal Revenue Code are to the Internal Revenue Code of 1986, as currently in force and to the comparable provisions of later law. ARTICLE 2: Payment Of Debts, Etc.: I direct my executor to pay from my estate the expenses of my last illness and the expenses of my funeral and of the administration of my estate. ARTICLE 3: Tangible Personal Property: A. I give all of my tangible personal property {other than tangible personal property used in a trade or business) to my wife, if she survives me by at least thirty (30) days. Otherwise, I give all of my tangible personal property to my children who so survive me in full confidence that if more than one child so survives me, they will make an equitable distribution among themselves. In the absence of the contemplated agreement among my children, the division of such property among them shall be done by my executor. B. I give my policies of insurance on any tangible personal property to the beneficiary of such property. C. Notwithstanding the provisions of paragraph A, I anticipate that I may leave with my personal papers a memorandum expressing my wishes about disposition of some of my personal and household effects. I intend such memorandum to be mandatory. In the event no such memorandum is found within thirty (30) days after my death, it shall be conclusively presumed that no such memorandum exists. D. My executor shall pay, as an expense of settling my estate, the costs of packing, storage, shipping, and insurance related to the distribution of any tangible personal property in my estate. ARTICLE 4: Marital Gift: A. If my wife survives me and the federal estate tax due on my estate will be reduced thereby, as soon as convenient, there shall be set aside so much of the property includable in my estate for federal estate tax purposes as shall have a value, as finally determined for federal estate tax purposes, which (when added to the federal estate tax value finally assigned to any other property with respect to which a federal marital deduction is allowable in my estate) shall equal the minimum amount which is necessary to reduce the federal estate tax due on account of my death to the lowest possible figure. In computing the amount to be so set aside, my executor shall consider as credits against such tax only the unified credit and the state death tax credit (but only to the extent use of such state death tax credit does not increase any death tax, other than Pennsylvania inheritance tax, payable to any state) available under the Internal Revenue Code, against such federal estate tax. The property so set aside shall be called the "marital gift." B. In setting aside the marital gift, my executor shall use property then available, including cash, which will qualify for the federal marital deduction, except, to the DB02:6078815.1 2 036039.1001 ~ ~ ~. ..- ~' ~~ extent possible and reasonable, for assets with respect to which credit is available for foreign death taxes. C. Such cash or property as provided in the preceding paragraph shall be distributed to the marital gift at the federal estate tax values finally assigned thereto, regardless of fluctuations in value. My executor shall take into account any appreciation or depreciation in the value of any property then available for such distribution, in relation to the federal estate tax value finally assigned thereto, for the purpose of effecting a pro rata apportionment, so far as shall be practicable, of such appreciated or depreciated property between the marital gift and the residuary trust hereinafter provided. It is my intent that in any distributions of property in kind the marital gift shall neither be favored nor disfavored. D. For purposes of the marital gift, my wife shall be deemed to have survived me unless it appears unmistakably otherwise. of trust. E. My executor shall distribute the marital gift to my wife, outright and free ARTICLE 5: Residuary Trust: I give the residue of my estate, real and personal, wherever situate, to the trustee, to be administered in trust, by the trustee, as follows: A. During the lifetime of my wife, all of the net income shall be distributed currently to her. B. Upon the death of my wife, the then remaining principal of the trust shall be distributed as my wife shall have appointed, with specific reference to this limited power of appointment, by will, or by the last written instrument delivered to the trustee, whether in trust or otherwise, provided that such power is exercised only in favor of my issue if any survive my wife and me, and further provided that such power is not exercised in favor of my wife, her creditors, her estate, or the creditors of her estate. I do not intend that every issue of mine must be a beneficiary of the exercise of such power. C. Upon the death of my wife, or upon my death if my wife does not survive me, to the extent that the power of appointment granted in paragraph B is not exercised or is not effectively exercised, the then remaining principal of the trust shall be distributed to my then surviving issue, outright and free of trust, on a per stirpes basis. D. In default of all beneficiaries pursuant to the preceding provisions, one half of the then remaining principal of the trust or one half of the residue of my estate as applicable, shall be distributed to those persons who would be my heirs had I died intestate on the date for distribution under this paragraph D, a resident of Pennsylvania, not survived by a wife, owning the property so distributable, and one half of the then remaining principal of the trust or one half of the residue of my estate, as applicable, shall be distributed to those persons who would be my wife's heirs had she died intestate on the date for distribution, a resident of Pennsylvania, not survived by a husband, owning the property so distributable. DB02:60788 t 5.1 3 036039.1001 c~~{ ARTICI.,E 6: Invasion Of Principal: A. If, during the continuance of any trust hereunder, the trustee determines that the funds available to an income beneficiary fxom all sources known to the trustee are insufficient to provide reasonably for purposes of the health, education, maintenance, and support of such beneficiary, then the trustee is authorized to pay or apply so much of the principal of such trust in such a manner and to such an extent (even if all) as the trustee determines to be necessary to provide reasonably for those purposes. B. Despite the preceding paragraph, in the case of any gift or trust which qualifies or potentially qualifies for the marital deduction, the trustee shall not pay or apply the principal of such gift or trust to or for the benefit of any person other than my wife. The trustee shall not distribute principal of any other trust to my wife for the purposes stated above so long as there is in existence a trust qualifying for the federal marital deduction and with respect to which my wife has a power to withdraw principal or with respect to which the trustee of such trust qualifying for the federal marital deduction may expend principal for the purposes stated above or which may be otherwise distributable to my wife (herein referred to as "principal distribution powers"). If there is in existence any trust which qualifies only in part for the federal marital deduction by virtue of an election under Section 2056 of the Internal Revenue Code to treat a portion but not all of such trust as qualified terminable interest property with respect to which there are "principal distribution powers," then so long as the portion which qualifies for the federal marital deduction remains in existence, the trustee shall not distribute principal of the portion which does not qualify for the federal marital deduction to my wife for the purposes stated above. If there are in existence more than one trust qualifying in whole or in part for the federal marital deduction with respect to which there are principal distribution powers, then the trustee shall not distribute principal to my wife for the purposes stated above from a trust which only partially qualifies for the federal marital deduction so long as there is in existence a trust which fully qualifies for the federal marital deduction. Subject to the foregoing, trustee shall not distribute principal to my wife from a trust with respect to which there are principal distribution powers which has an inclusion ratio of zero for federal generation skipping tax purposes so long as there is in existence a trust with respect to which there are principal distribution powers which has a greater inclusion ratio. ARTICLE 7: Minority Or Other Incapacity: A. If any income or principal or property other than tangible personal property is distributable hereunder to any beneficiary who is under the age of twenty-one (21) or is incapacitated and unable properly to handle his own affairs, then the trustee shall hold the same in further separate trust and until the age of twenty-one (21 } is reached or capacity is regained: 1. Pay or apply the income or principal for the support, maintenance, education, benefit, or recreation of such beneficiary and beneficiary's dependents in such a manner and to such an extent (even if all) as the trustee deems to be to the best interests of such beneficiary and beneficiary's dependents; and D602:607$815.1 4 036039.1001 ~~ ~( 2. Accumulate the balance of any income not so paid or applied and add the same to the principal of such beneficiary's trust. B. Such beneficiary`s trust shall be vested in interest in and shall be distributed to such beneficiary free of trust at the age of twenty-one (Z 1 } or upon the regaining of capacity, or, if the beneficiary dies before such distribution, to such beneficiary's estate. C. The fact of incapacity or regaining of capacity shall be determined solely by the trustee. D. Despite paragraphs Al or A2 above, in the case of any gift or trust which qualifies or potentially qualifies for the marital deduction, the trustee shall not pay or apply the income or principal of such gift or trust to or for the benefit of any person other than my wife and shall not fail to pay income currently to my wife. E. The provisions of this Article shall be subject to any specific provisions to the contrary elsewhere in this instrument. ARTICLE 8: Methods 4f Payment: A. The trustee is authorized to make any payments or applications of income or principal from any trust hereunder to any beneficiary entitled to such payments in any manner the trustee deems to be to the best interests of such beneficiary, including: 1. To such beneficiary directly; 2. To such beneficiary`s guardian of the person or property or both (whether formally appointed or not); 3. To the person with whom such beneficiary resides; 4. By mailing to such beneficiary's last-known address; 5. By depositing to the bank account of such beneficiary; and 6. By the trustee directly to third persons for the benefit of such beneficiary. B. The receipt for any payment or application of income or principal made in conformity with the above provisions shall fully discharge the trustee from any further liability therefor. C. The provision of A3 above shall not apply to any gift or trust which qualifies or potentially qualifies for the marital deduction. The trustee shall not pay or apply the income or principal of any such gift or trust to or for the benefit of any person other than my wife. DB02:6078815.1 5 036039.1001 D. Unless expressly otherwise directed elsewhere in this instrument, all payments of trust income which are currently distributable shall be made in convenient installments but not less frequently than quarter-annually. E. In the case of an interest of a beneficiary terminating before actual payment of income to such deceased beneficiary, income (including that accrued prior to the termination of the preceding interest) shall be paid to the holder of the succeeding interest. The rule just stated in this paragraph shall not apply to income payable from a trust which qualifies or potentially qualifies for the marital deduction; such income shall be paid to the estate of the deceased wife. ARTICLE 9: Source Of Funds For Payment Of Taxes, Debts, Etc.: A. Costs of administration of my estate, my debts, the expenses of my last illness and funeral, and all legacy, succession, inheritance, transfer, and estate taxes levied or assessed on my estate shall be paid out of the residue of my estate, without apportionment or charge against the respective interest of any beneficiary. My executor shall not be entitled to contribution or reimbursement for any portion of such tax from any such person, despite any statute or rule of law to the contrary. Despite the foregoing, the residue of my estate shall not be obligated to bear: 1. Taxes imposed on generation-skipping transfers under Chapter 13 of subtitle B of the Internal Revenue Code, or a corresponding provision of state law; 2. Additional estate or inheritance taxes imposed because of application of Section 2032A(c) of the Internal Revenue Code, or a corresponding provision of state law, relating to disposition of, or failure to use for a qualified use, certain farm and real property; and 3. Additional federal estate taxes imposed because of an election causing qualified terminable interest property to be includable in my estate for federal estate tax purposes under Section 2044 of the Internal Revenue Code, and additional state estate taxes imposed as a result of such inclusion in my estate, it being my direction that such federal estate taxes and state estate taxes shall be paid out of such qualified terminable interest property. B. Taxes on all future interests may be prepaid in the same manner provided for payment of other taxes. C. Any or all of the provisions of this Article shall be subject to any contrary and explicit provisions of other instruments creating interests includable in my taxable estate. D. In no event shall debts, administration expenses, or taxes be charged against any property qualifying for the federal marital deduction. In the event there is a portion of the residuary trust which does not qualify for the federal marital deduction, for which an election is made pursuant to 72 Pa.C.S. § 9113(a) to pay tax currently and which is includable in DB02:6078815.1 ( 036039. I OO I the base for calculation of Pennsylvania inheritance tax on account of my death, then all payments under paragraph A shall be made from that portion of the residuary trust. E. All federal or state generation skipping transfer taxes (including the tax imposed by Section 2601, et se . of the Internal Revenue Code} shall be charged directly to the property constituting such transfer. F. Interest and penalties concerning any tax shall be paid and charged in the same manner as the tax. ARTICLE 10: Tax Saving Clause: No fiduciary shall exercise any powers, discretions, or options unless specifically and otherwise authorized or directed hereunder so as to cause the elimination or diminution of any marital deduction that may be allowable in my estate. ARTICLE 11: Tax Elections: A. My executor is authorized to use administration expenses as deductions for estate tax purposes or income tax purposes and to use date of death values or optional values for estate tax purposes, regardless of the effect on any interests under this will. B. My executor is authorized to elect, under Section 2056 of the Internal Revenue Code, or any state law, to qualify all or part of any property includable in my estate for federal estate tax purposes, or state death tax purposes, as qualified terminable interest property, if it can be so qualified, regardless of the effect on any interests included in my taxable estate. My executor is authorized to make the election, in whole or in part, allowed by 72 Pa.C.S. § 9113(a), or the comparable provisions of later law, regardless of its effect on any interests included in my taxable estate. My executor is also authorized to elect under Section 2523(f) of the Internal Revenue Code, on my gift tax return for any period which has a due date after the date of my death to qualify any gifts to my wife as qualified terminable interest property if they can be so qualified, regardless of the effect on any interests included in my taxable estate. In determining whether to make any such election, my executor may consider the effect that such an election or failure to elect may have on the federal or state death taxes which may be due at the death of my wife. C. My executor is authorized to elect, in whole or in part, pursuant to Section 2652(a) of the Internal Revenue Code, to treat any property for which an election has been made as qualified terminable interest property pursuant to Section 2056 or 2523 of the Internal Revenue Code, as though such election had not been made for the purpose of determining who is the transferor for purposes of the federal generation skipping transfer tax, regardless of the effect on any interests included in my taxable estate. D. There shall be no adjustment of any interests under this will or any other instrument governing assets included in my estate by reason of any action taken by my executor in making any tax elections under this Article or in allocating exemption from generation skipping transfer tax except to the extent other instruments contain explicit contrary provisions. DB02:6078815.1 7 036039.1001 ARTICLE 12: Joint Tax Return: My executor is authorized to file a joint return of income with my wife for any taxable year or period, which may be filed pursuant to the provisions of the Internal Revenue Code or any federal or state statute making substantially similar provisions for the division of income between spouses, and to pay from my estate the full amount or any part of the tax upon any such return or any adjustment or restatement thereof. ARTICLE 13: Gift Splitting; My wife and I have agreed to the splitting of gifts for gift tax purposes. My executor is authorized to consent to the splitting of gifts made by us, and having done so, my executor shall join in the filing of any necessary gift tax return and shall pay from my estate all or any part of the resulting tax liability without seeking reimbursement or contribution from my wife or any other person, including my wife's executox, regardless of the effect on any such interests under this will. There shall be no adjustment of such interests by reason of any actions taken by my executor pursuant thereto. ARTICLE 14: Fiduciary Powers; In addition to those powers granted by law, my executor or trustee, whichever is in possession of the property involved, is authorized, without the leave of any court and with regard to all property at any time held in my estate or any trust hereunder, until distribution of such property is made: A. To retain all property in the original form received; B. To sell or exchange, to lease or give options for periods of time even longer than estate administration, or any trust hereunder, or otherwise to dispose of any property, publicly or privately, for cash or credit or partly for each, without obligation to repudiate any offer made hereunder in favor of better offers; C. To invest in or purchase ali forms of property (including but not limited to shares of investment companies and common funds) without duty to diversify, irrespective of the -- laws of investment, and at premium or discount prices; D. To vote directly or by giving proxies (ministerial or discretionary) any shares of stock including shares of stock in its own corporation if the executor or the trustee is a corporation; E. To purchase or sell securities in any manner whatsoever, including, without limitation, the giving of puts and calls, borrowing on margin, and the writing of options; to join in any merger, consolidation, reorganization, voting trust plan, or other concerted action of stockholders to do any act or thing necessary in connection therewith, including delegation of discretionary duties with respect thereto; F. To compromise claims; DB02:6078815.1 g 036039.1001 ._~ ~ < ~~ J G. To hold property unregistered or in the name of nominee; H. Except where otherwise provided, to divide or distribute property in cash or in kind or partly in each, to do so without making pro rata distribution of specific assets and without the consent of any beneficiary; I. To merge for investment purposes all property held in my estate or any trust hereunder other than any in any gift or trust which qualifies or potentially qualifies for the marital deduction; J. In addition to the powers conferred in the Source of Funds For Payment of Taxes, Debts, Etc. Article, to borrow from anyone and to mortgage or pledge any real or personal property; K. To make loans; L. To disclaim any interest which I might have in property; M. To divide into separate trusts, one trust consisting of the qualified portion and the other trust consisting of the non-qualified portion, any trust for which a partial election is made to qualify the trust as qualified terminable interest property under Section 2056 of the Internal Revenue Code; provided, however, that any such division shall be done in accordance with the fair market value of the assets of the trust at the time of the division; N. To divide into separate trusts, one trust consisting of the portion for which a partial election is made under 72 Pa. C.S. § 9113(a) and the other consisting of the portion for which such a partial election is not made; provided, however, that this power may not be exercised in a manner inconsistent with the power in paragraph M. Any such division shall be done in accordance with the fair market value of the assets of the trust at the time of the division; and O. To fund or divide into separate trusts, one trust with an inclusion ratio of zero and one trust with an inclusion ratio of one for purposes of the federal generation skipping transfer tax, and to merge such trusts, from time to time. Any such merger or division shall be done in accordance with the valid applicable regulations of the Internal Revenue Service. I recognize that at the time of my death a substantial part of my estate may consist of real property in various jurisdictions. I expressly urge that no fiduciary handling such property feel under any compulsion to sell such property other than in an orderly way which, in the opinion of the fiduciary, will be in the best ultimate interests of the beneficiaries of such real property. No specific power conferred in this Fiduciary Powers Article shall be exhausted by the use thereof but each shall be continuing. The enumeration of such powers shall not be construed as a limitation upon the general power of the fiduciary to perform any act that an individual might do with respect to such individual's own property. DB02:6078815.1 (~ 036039.1001 .-~ ~%~ ~~ ARTICLE 15: Trust Accounting: A. All income, including dividends declared but unpaid, which shall have accrued on investments at the time of delivery to the trustee shall be considered by the trustee as income and shall be distributed by the trustee accordingly. B. The trustee shall charge all premiums and credit all discounts on investments, such as bonds, against income but not against principal, and the trustee shall not be required to create any reserve out of income for depreciation, obsolescence, amortization, or other waste of principal. C. The proceeds of the sale of unproductive or underproductive property shall be treated as trust principal. ARTICLE 16: Situs: This instrument creates a Pennsylvania situs trust; and all matters pertaining to the validity, construction, or administration of this trust, or concerning rights or beneficial interests related hereto, shall be governed by Pennsylvania law. Notwithstanding the above, without obtaining the authority of any court, the trustee shall have the authority from time to time to change the situs of any trust created hereunder to a situs in any state in which a current income beneficiary of such trust resides, or in which the trustee resides, and may, but shall not be required to, elect that the law of the new situs shall govern the construction or administration of such trust. The trustee may not exercise his authority set forth in the preceding sentence without obtaining the prior written consent of each current income beneficiary of such trust. The trustee may change the situs of one trust created hereunder without changing the situs of other trusts created hereunder. Any change of situs accomplished under this instrument shall be treated as a continuation of the same trust. ARTICLE 17: Consolidation Of Trusts: If at any time a trustee is holding any trust under this instrument or any other instrument created by me, by my wife or by any other member of my family, for the primary benefit of the same person or persons and upon substantially the same terms, the trustee may, in its sole discretion, consolidate such trusts into a single trust, provided that the trustee shall not merge any trust with an inclusion ratio of zero for federal generation skipping transfer tax purposes with a trust with a greater inclusion ratio. ARTICLE 18: Protective Provisions: A. No benef ciary hereunder shall be allowed to assign or anticipate any interest in any income or principal held or payable or other property distributable hereunder, and no beneficiary's creditors shall be allowed to attach or otherwise reach any such interest. B. Any beneficiary shall be privileged at any time and from time to time in a writing delivered to my executor or trustee, whichever is in possession of the property involved, to renounce or relinquish in whole or in part any interest in my estate or any trust hereunder and DB02:6078815.1 1 ~ 036039.1001 thereby to accelerate the next succeeding interest as if such beneficiary had died. A beneficiary may disclaim an interest in any trust created hereunder while retaining an interest in other trusts created hereunder. If a beneficiary is unable to act, then such beneficiary's personal representative, guardian, or attorney-in-fact may so renounce such beneficiary's interest. C. If any person states expressly in the writing contemplated by paragraph B, that he intends his act to be a qualified disclaimer as defined in Section 2518 of the Internal Revenue Code and if such act otherwise meets such definition: 1. The person or persons receiving such interest shall be determined without regard to any directions on the part of the person making the disclaimer; and 2. The disclaimed interest shall pass to a person other than the person making the disclaimer, except that any disclaimed interest of my wife in the marital gift or of property passing to her by right of survivorship shall pass to the residuary trust. ARTICLE 19: Representation Of Interests: A. In any proceeding, legal or equitable, formal or informal, in court or out of court, in any jurisdiction, concerning any property or personal rights or interests, whether vested or contingent: 1. In the case of beneficiaries whose whereabouts cannot be ascertained, the trustee shall represent them. 2. In the case of beneficiaries who are unborn, unknown, incompe- tent, or otherwise subject to the appointment of a guardian or trustee and a guardian or trustee for such beneficiary has not been designated pursuant to any other provisions of my will, the following persons in the order named shall re- present them: (a) The oldest competent person nearest to such beneficiary by lineal consanguinity upwards in direct ascending line; (b) The oldest competent person nearest to such beneficiary by lineal consanguinity downwards in direct descending line; and (c) The oldest competent person nearest to such beneficiary by collateral consanguinity. B. Relationships to unborn beneficiaries shall be determined as if such beneficiary had been born the day before the representative acts. No person shall represent a beneficiary if it could or would result in an increase of federal or state income, gains, gift, death, or other taxes. DB02:6078815.1 1 1 036039.1001 ;. ~~ ARTICLE 20: Provisions Re~ardin~ Fiduciaries: A. Any fiduciary hereunder may renounce or resign at any time with or without cause. B. If there is no corporate fiduciary acting hereunder, then my executor or trustee may designate a corporation (regardless of where organized or headquartered) with fiduciary powers to act as agent or custodian hereunder, may delegate to it such duties as may be appropriate (including investment recommendation duties), may pay to it reasonable compensation for its services, and may discharge it with or without cause. C. No fiduciary shall be required to file bond, execute any instrument appointing anyone to accept service of process, or file inventories or accounts of any kind unless specially ordered to do so on application of any beneficiary, my executor or trustee, or on a court's own motion. D. If there is more than one f duciary serving, then each serving may delegate for any period of time any or all duties he or she may have to any co-fiduciary or co-fiduciaries. Further, a co-fiduciary or co-fiduciaries shall have full authority to designate that checks and other banking documents may be executed with the signature of any one or more but less than all such co-fiduciaries. E. No successor fiduciary shall be required to examine into the acts of his predecessor, and each successor fiduciary shall have responsibility only with respect to the property actually delivered to him by his predecessor. F. Any corporate trustee serving hereunder shall be entitled to be compen- sated for its services hereunder in accordance with the current rates then charged by it for trusts of similar size and character. If a corporate trustee renders any extraordinary services, it may receive additional compensation therefor. ARTICLE 21: Appointment Of Fiduciaries: A. I appoint my wife to act as executrix of and trustee under this will. If my wife fails to qualify or ceases to act, then her successor shall be the individual(s) or a corporation, or both, selected from time to time by the following in the indicated order of prior- ities: 1. My wife. 2. My son, STEVEN S. BEAM. 3. My daughter, JANICE M. KIRKLEY. 4. My daughter, PATRICIA D. SHAMBAUGH. B. I intend the power to designate fiduciaries given in this Article to be plenary and to include the power to appoint any individual (whether or not a beneficiary and DB02:6078815.1 12 036039.1001 whether or not the holder of the power to designate) and/or a corporation (regardless of where organized or headquartered). IN WITNESS WHEREOF, I have hereunto set my hand and seal this day of _ ; ~ ~ Gf~Gi ~. 2007. i ~ ' ~ ~ ~, / ;:..~~ ~-- ~r/,..~y~ .<~,.~---y---- SEAL CLYDE .BEAM SIGNED, SEALED, PUBLISHED and DECLARED by the above named CLYDE O. BEAM as and for his last Will and Testament, in the presence of us, who, at his request, in his presence and in the presence of each other, have hereunto subscribed our names as witnesses. ~ ~ LD_ ~ 1~ DB02:60788 15.1 13 036039.1001 STATE OF DELAWARE NEW CASTLE COUNTY SS: We, ~LYDF~ O. BEAM, the testator, and /l~ E ~ ~ an o~S' n ~~ ,the witnesses, whose names are signed to the foregoing i strume ,being first duly sworn, do hereby declare to the undersigned authority that the testator signed and executed the instrument as his last Will and that he signed willingly, and that he executed it as his free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the testator, signed the Will as a witness and that to the best of the witnesses' knowledge the testator was at that time over eighteen years of age, of sound mind and under no constraint or undue influence. r-~, CL E ~ B~/EAM, Testat Witness SUBSCRIBED, SWORN TO AND ACKNOWLEDGED before me by CLYDE O BEAM, stator, a ~bscribed and swo bef re e l _ ~ ~ ~(' and ~ ~ ~~ ~ ° ,witnesses, this ~ day of ~~,. , 2007. /' Notary Public/Attorn~at-law r State of Delaware ~/ My Commission Expires: ( % Nf~'TAR~ PUBLIC ~~STATI= Ct'~ '~~LAl~lA~~ Wlii~r'1J~~~:i; t .z~. t~ a L1~l1. ~ 2{J1i~ •;7. ~..> DB02:6078815.1 1,4, 036039.1001 Mar 09 2010 11:06:37 1866Z3Z0ZZ1 -> Fax 5eruer Merrill Lynch Page @@Z 0 n 0 0 c3 oq ~7(/)'a °°~~~ ~~ Ut ' a p~~ '1'IQ o O O V) ~ ti cpcQ~=~?}m ~ o ~ y z o ~ ~ ~ ~ n D , TT \Y O V/ t0 0 ~ " ~ ~ CS i ~ 3y ~ ~~ ~ ~ ~ ..~. o ~ A cb ~ a ~ c ~ ~ ~ ~ ~ p O ~ ~, ~' ~ d p ~A ~ a° D~~ ~ o "" ~. w ' m h v m ~ t ~A N jD~ tQ .. . . 0 o q -n r C7 ~ m O ~ -a` tq~ ~ ~ NN©~ Tl f o ~=~' © cD CQ o p p~ ~' =' vv N cp ~ p~ _1 G1 ~ N N N o m -fin ~ ~ ~ ~ Q ~ c 0 O ~ ~ C7 ~ ~~ Qa y Q ~ ° in N ~ '~ -~ ._..t ~ a ~ N "Q (D ~ Q o N~ ~~` ~ ~ Uti C7 Ch r.i, -, <p ~ ~ G~. o .~-- ~ .~.. ~ ("y + ~- r ~. - ~ ~ ~ ~ '"C) ~ ~. ~ ~ ' c~ C~ _ ~' ~ ~ ~ x' ~ ~., r ~ ~ ~ zArn < .... ~ ~ ~°rn ~ ~ ~ ~ '~ . ~ ~~° ~ ~ ~ ~~ ~ ° ~ ~ , ~ ~ ~ ~- ~. ~ ~ ~. , ~, -- rn ~ a ~ ~ ~~ ~~ . ~ ~ ° =~ rn ~ .~ c~' rn ~~ v ~ ~ ~' ~~ ~ w ~ -~ w ~ ~ Q v~ N ~. ro Mar 09 2010 11:87:38 1066Z3Z0ZZ1 -> Fax Serer Merrill Lynch Page 003 c~ a c ~....... p~•'~... ~' L' d CA ..a, p n p g ,_ :.m ..o ~~ ~. t1~ t1J ~ Q -..t ,-; O d ~ ~ O OT 3 ~++ fV ~ -.~ _ ~. ~ _.... ,~ .....:. ` ~L?~ Q. t7 it (b ; C%P.; :. 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Crockett PA Certified Residential Real Estate Appraiser S. W. Barrett Real Estate 8~ Appraisal Services File No. 09-0450 11/30/2009 Clyde O. BEAM Estate 29 Tunbridge Lane Carlisle, PA 17015 File Number: 09-0450 In accordance with your request, I have appraised the real property at: 29 Tunbridge Lane Carlisle, PA 17015 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 September 27, 2009 is: $170,000 One Hundred Seventy 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, Cassandra J. Crocke PA Certified Residential Real Estate Appraiser Summary Residential Appraisal Report File No. 09-0450 The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal. Client Name/Intended User CI de O. BEAM Estate E-mail Client Address 29 Tunbrid a Lane Ci Carlisle state PA zi 17015 Addtional Intended users The intended user of this re ort is the Client. No additional Intended Users are ermitted without the ermission of the a raisers . • Intended use The Intended Use is to evaluate the roe that is the sub'ect of this a raisal to rovide the Client with an accurate and ade uatel su orted o inion of value. Pro a Address 29 Tunbrid a Lane c' Carlisle state PA zi 17015 Owner of Public Record CI de O.& Diane L. Beam Count Cumberland L al Descri ion Deed Book 178• Pa a 755• South Middleton Tw Assessor's Parcel ~ 40-24-0748-131 Tax Year 08109 R.E. Taxes S 1 901.00 Nei hborhood Name Greenfield Ma Reference 24-0748 Census Tract 0125.00 Pro Ri htsA raised X Fee Sim le Leasehold Other describe M research did X did not reveal an for sales or Vansfers of the wb'ect o e fa the three ears for to the effective date of this a raisal. PriorSale/Transier: Date 6/5/1998 Price x125 900 Sources Oeed Courthouse records Analysis of prior sale or transfer history of the subject property (and comparable sales, if applicable) No further recorded transfers were found. Offerings, options and contracts as o(the effective date o(the appraisal None known Net hborhogdCheracterisGcs __ -0ne•UnitHousfngTrends One-Unit Housing Present land Use Location Urban X Suburban Rural Pro ert Values Increasin X Stable Declinin PRICE AGE One-Unit 70 % Built-U X Over 75% 25-75% Under 25% DemandlSu I Shorta X In Balance Over Su I S 000 rs 2-4 Unit 0 % Growth Ra id X Stable Slow Marketin Time Under 3 mths X 3-6 mths Over 6 mths 125 Low New Multi•Famil 5 % ~ Neighborhood Boundaries Sub'ect is bounded on the north b I-81 • on the east b Rt.34• on 300+ Hi h 100 Commercial 5 % • the south b Rt.174• and on the west b Adams Road. 165 Pred. 15 Other Vacant 20 % Neighborhood Description Sub ect roe is located in an ex andin area of sin le famil homes both detached and attached ' ad'acent to the Borou h of Carlisle with a mix of residential and commercial/industrial usa e. Sho in and other amenities are within a short drivin distance. Schools stem is South Middleton District and students are bused. SMSA 42-3240. Market Conditions (including support for the above conclusions) Pro a values are current) stable in the sub'ect ro ert 's market area. Local multi-list data indicates an avera a marketin time of 90-180 da s. Lendin rates have remained favorable althou h sales concessions are occurin more fre uentl .There are new homes under construction in surroundin develo ments as well as re-sales available in the nei hborhood. Dimensions 127.91x21.14x18.26x142.09x36 Area 0.11 Acre M/L Sha a Irre ular view Residential S cificZonin Classification RH zonin Desui lion Residential Hi h Densi Zonin Com liance X Le al Le al Nonconformin Grandfathered Use No Zoni III al describe Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X Yes No If No, describe. Utilities Public Other (describe) Public O[her(describe) Orf-site lm rovemenls-T a Public Private Electricit X 200 am Water X Street AS halt X Gas X Sanita Sewer X Alle None Site Comments There are no a arent adverse easements encroachments or other adverse conditions. GENERAL f)ESCRIPTION FOUNDATION EXTERIOR DESCRIPTION , malecials INTERIOR materials Units X One OnewlAcc, unrt X Cortaete Slab Crawl S ace Foundation Walls Concrete/Av Floors Ca Nin I/A-G E of Stories One Full Basement Partial Basement Exterior Walls Vin I/Brick/A-G Walls D wall/A-G T Det. X Att. S-DetJEnd Unit Basement Area N/A s . h. Roof Surface Shin le/A-G TriMFinish Wood/A-G X Existin Pro sari Under Connt. Basement Finish % Gutters & Downs uts Aluminum/A-G Bath Floor Vin I/A-G Desi n St le Townhouse Outside En (Exit Sum Pum WindowT DbIHn /A-G Bath Wainscot DW/Fbr Is/A-G YearBuilt1998 StormSashllnsulated Insulated/A-G CarStora a None EBective A e rs 6-8 Screens Yes/Av X Drivewa N of Cars 2 Attic None Heatin X FWA HW Radiant Amenities WoodStove s N Drivewa Surface As halt Dro Stair Stairs Other Fuel G8S Fire aces - fence X Gara e N of Cars 2 Floor X Scuttle Coolin X CenUal Air Conditionin X PatiolDeck Patio X Porch Ent Car R k of Cars Finished Heated Individual Other Pool Other X Att. Det. Built-in A liances Refri razor X Ran elOven X Dishwasher X Dis osal X Microwave WasherlDr er Other describe Finished area above rade contains: 4 Rooms 2 Bedrooms 2 Bath s 1 364 S uare Feet of Gross Livin Area Above Grade Additional Features Sin le sto townhome in avera a ood condition with vaulted ceilin s sk li ht ceilin fans• hardwood in fo er• ant orch rear atio. Comments on thelmprovemerxs Im rovements are in avera e- ood condition with no h sical or functional inade uacies a arent. par.. ...~.~.y~w~._-~.~..r-.~.~..~~~.,, ~,~~ - Nlrl a1r115 •fVICLS. rlC f C11ri1. Page 1 d 2 (gPAR^") General Purpose Appraaal Rf~. n 1212008 r.~~.:: ~::.i ,:~;:.; :: ;::;.-;;:.,,,..,,:x•n:.r;~ .: GPARSUM_081222200a Summary Residential Appraisal Report File No. 09-0450 FEATURE SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.3 29 Tunbridge Lane Address Carlisle 17015 3 Briarly Drive Carlisle 17015 27 Greenfield Drive Carlisle 17015 18 Clifton Terrace Carlisle 17015 Proximi to sub' ct 0.11 miles SSW 0.10 miles E 0.43 miles NNW Sale Price $ $ 167 000 $ 185 000 ~ $ 160 000 Sale PriCeJGross Liv. Area S 0.00 . n. $ 121.37 s . n. $ 121.31 . ft. $ 127.49 . ft. Dala Source s verification sources MLS/Courthouse Records MLSICourthouse Records MLS/Courthouse Records VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(•) SAdjuslmenl DESCRIPTION +(~) s A 'ustmerq DESCRIPTION +(-) EAOjustmerc Sale or Financing Concessions None, Conv DOM 210 None, Conv DOM 93 None, Conv DOM 52 Date of SalelTime 5109 10/09 4/09 Location Suburban Suburban Suburban Suburban LeaseholdlFee Sim le Fee Sim le Fee Sim le Fee Sim le Fee Sim le Site Lot/Av .11 Lot/Av .11 Lot/Av .21 Lot/Av .11 View Residential Residential Residential Residential Desi n s le Townhouse Townhouse Townhouse Townhouse uali of construction Avera a Avera a Avera a Avera e Actual A e 11 Yrs 15 Yrs 18 Yrs 19 Yrs = condition Av /Good Av /Good Av /Good Avera e 2 500 . Above Grade raal a sarhs Taal earns sags total etrms earns real sa earns Room Count 4 2 2 4 2 2 5 2 2 4 2 2 Grosslivi Area40.00 1 364 . ft. 1 376 . ft. 0 1 525 . ft. -6 440 1 255 .2 4 360 Basement& Finished Rooms Below Grade None/Slab None/Slab NoneJSlab None/Slab Functional utili Avera a Avera a Avera a Avera e _ Heatin /Coolin GFHA/CA GFHAJCA GFHA/CA HP/CA Ener Efficientltems T ical T ical T ical T ical tiara elCar rt 2 Car tiara e 2 Car tiara e 2 Car tiara e 2 Car tiara e PorctVPatio/Deck Ent /Patio Ent /Patio PorchJPatio/FP -2 000 Scrod. Porch/ -1 500 Ent Net Ad'ustment Total X + $ 0 + X - $ 8 440 X + $ 5 360 Adjusted Sale Price of Com ambles Net Adj. 0.0% GrossAd'. 0.0% $ 167 000 Net Adj. -4.6% GrossAd'. 4.6% $ 176 560 Net Adj. 3.4% Gross Ad". 5.2% $ 165 360 summa of salescom arisonA roach All corn ambles are similar ins le utili and location to the sub"ect roe are verified closed sales and are the best current) available. Limited sales of attached homes in sub'ect's value ran a have recent/ occurred re uirin an ex ended search. Ad'usted ran a of value is $165 000 to $177 000 sa $170 000. COST APPROACH TO VALUE site value comments Site value from current assessment data and recent local land sales. ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE ........................................ _ $ 30 000 Source of cost data Dwellin S . Ft. @ $ ali ratio from cost service Effective date of cost data S . FL @ $ ............ _ $ Comments on Cost A roach rocs livin area calculations, de reciation, etc. = Cost A roach from Marshall/Swift Valuation Service tiara a/car ort s . FL $ ............ _ $ handbook and local cost anal sis was considered but Total Estimate of Cost-New ~ , .. , , , . , , .. , _ $ deemed not credible due to the a e of the im rovements. Less Ph site/ Functional External Site value from Market Data. De reciation based on a e/life De reciation = g observed condition and Market Data Anal sis. Estimated De reciated Cost of Im rovements ................................ _ $ remainin Economic Life is 45-50 ears. "As-is-Valueof Site lm rovements ................................ _ $ INDICATED VALUE BY COST APPROACH ...................... _ $ N/A ;. _.. ;., , ; >.: INCOME APPROACH TO VALUE °~ •' Estimated Month Market Rent $ N/A X Gross Renl MuIG tier N/A = $ N/A Indicated Value b IncomeA roach Summary of Income Approach (including support for market rent and GRM) N/A Methodsandtechni uesem to ed: X Sales Com arisonAp roach CostA roach IncomeA roach Other: Discussion of methods and techniques employed, including reason for excluding an approach to value: Cost A roach Was Considered but deemed not credible due to the a e of the im rovements. IncomeA roach not relevant to current use as a sin le famil residence. Reconciliation comments: Market Anal sis consistent/ su orts m o inion of market value. Cost A roach and GRM were found ina ro riate for this anal sis. Greatest wei ht is a lied to the Market Data Anal sis. Su ortin file information substantiates these estimates. 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 as of 09/27/2009 ,which is the effective date of this appraisal, is: O Single point $ 170 000 Range S to S ~ Greater than ~ Less than ~ This appraisal is made X 'as is; subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, ^ subject to [he following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed ~ subject to the following: .....:..Par . _ __ _ ____ _ _ ...._..__.. ..r......~.,. _.wr~wo Page 2 of 2 (gPAR"') General Purpose Appraisal Report 1L2G08 ~~ - ~~~ GPARSUM 0812222IX1B -'" .,•~~~~~•~ ~~,~~=:~•~.•;•~~•:~~.•:~•~ S.W. Barrett Real Estate &Appraisal Services File No. 09-0450 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 simply what the appraiser did and did not do during the course of the assignment It 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 to the intended use of the report. This report was prepared for the sole and exclusive use of the client and other identified intended users for the identified intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report. The appraiser's certification appearing in this appraisal report is subjectto the following conditions 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 property appraised or title thereto, nor does the appraiser render any opinion as to the title, which is assumed to 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 only to assist the reader in visualizing the property. The appraiser Eras made no survey of the property. 3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previousty made thereto. 4. Neither a11, nor any part of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations, or the firm with which the appraiser is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without the written 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 to the appraiser, and contained in the report, were obtained hom sources considered reliable and believed to be true and correct. However, no responsibility for accuraty of such items furnished to 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 conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and should not be considered as such. S. The appraiser special¢es iri the valuation of real property and is not a home inspector, building conVactor, 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 property 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 only. The appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation, radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested. This appraisal report should not be used ro disclose the condition of the property as it relates to the presence/absence of defects. The client is invited and encouraged to employ qualified experts to inspect and address areas of concern. If negative conditions are discovered, the opinion of value maybe 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 to readily observable areas. Unless otherwise noted, attics and crawl space areas were 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 to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will be competently performed. 30. Unless the intended use of this appraisal specifically includes issues of property 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. The Definition of Value used in this assignment is unlikely to be consistent with the definition of Insurable Value for property insurance coverage/use. 11. The ACI General Purpose Appraisal Report (GPART"") is not intended for use in transactions that require a Fannie Mae 10041Freddie Mac 70 form, also known as the Uniform Residential Appraisal Report (URAR). Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions Re.^ l~f -n~ Produced uskp ACI solrwere, 900.231.8727 vw,v.euweb.cgn Tlds roan Copyrighl9 200x2009 AG Division 01150 gsms Services, Inc.. M Riehls Reserved .::s+4^~`.~, . _,- _ _. _ (pF'AR°) GenHal Purp05e Npptai5al Repot 17/2005 ;•'~;;~.'• ;;cr:::::!r,n:.: ~=:;,:~ -;.i~~.;i:.:.-r ~;::: GPARLIM 0509112008 File No. 09-0450 Appraiser's Certification The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief: 1. The statements of fact 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 conclusions. 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 involved. 4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. The appraiser's engagement in this assignment was 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, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 7. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 8. Unless othenroise noted, the appraiser has made a personal inspection of the property that is the subject of this report. 9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this cer[irication. Significant real property appraisal assistance provided by: Additional Certifications: Definition of V alue: XO Market Value ~ Other Value: Source of Definition: USPAP The most 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: 29 Tunbridge Lane Carlisle, PA 17015 EFFECTNE DATE OF THE APPRAISAL: September 27, 2009 APPRAISED VALUE OF THE SUBJECT PROPERTY 3 170,000 APPRAISER Signature: Name: Cassandra J. Crockett state Certification # RL001348L or License # or Other (describe): State #: state: PA Expiration Date of Certification or License: 06/30/2011 Date of Signature and Report: 11!30/2009 Date of Property viewing; 09/27/2009 Degree of property viewing: XC~ Interior and Exterior ~ Exterior f3ny ^ Did not personalty view SUPERVISORY APPRAISER .--- ~... v ~''. } ''7 ~ Signature: ""--- '-'~ Name: Steven W. Barrett, SRPA, SRA, ASA state Certification # GA000298L or License # RB026921A state: PA Expiration Date of Certification or License: 06/30/2011 Date of Signature: 11130/2009 Date of Property Viewing: Degree of property viewing: Interior and Exterior ~ Exterior Onty XO Did not personally view Aq sohwae, 800.231.8727 xww.adweb.corrl TMs InG. NRieh6 Rrc.tixl Nay - rape c a c (pPARTM) General Purpose MWasal Regal 1112005 ,.~~~~ r S.W. Barrett Real Estate ~ Appraisal Services GPARUM OSOBIr2ooe SKETCHIAREA TABLE ADDENDUM File No 09-0450 Case No Property Address 29 Tunbridge Lane City Carlisle County State PA Zi 17015 Borrower Clyde O. BEAM (Estate) •' LenderlClient BEAM Estate UC Address 29 Tunbridge Lane Appraiser Name Appr Address z4.lr 0 m r-°°----_.--- o°~ Mstr ~ 72.17 .SCF° o 0 Bedroom 4.17 8.d I ~ i Dining Area N ~ Mstr 0 N Bath ~ h Kitchen n ~ b N Utility vi ~ 14.0' Clsl. Foyer Bath Clsl o s.(r Garage r b Bedroom 1z.(r 1s.a Comments: Scale: 1 = 12 • Code AREA CALCULATIONS SUMMARY Description Size Totals GLAl First Floos 1364.00 1364.00 P/P Patio 120.00 120.00 GAR Garaqe 466.00 466.00 TOTAL LIVABLE (rounded) 1364 LIVING AREA BREAKDOWN Breakdown Subtotals First Floor 22.0 x 32.0 704.00 8.0 x 18.0 144.00 16.0 x 24.0 384.00 11.0 x 12.0 132.00 4 Areas Totai (rounded) 1364 APEX SOFTWARE E00-ESS•995E Ap.B100-w Apeall SUBJECT PROPERTY PHOTO ADDENDUM Client: Clyde O. BEAM Estate File No.: 09-0450 Property Address: 29 Tunbridge Lane Case No.: City: Carlisle State: PA Zip: 17015 N_~== __- ~-i._ --- ___ -...Y_. -- _- - ~ ~ ~ ~~ FRONT VIEW OF SUBJECT PROPERTY Appraised Date: September 27, 2009 Appraised Value: $170,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Client: Clyde O. BEAM Estate File No.: 09-0450 Property Address: 29 Tunbridge Lane Case No.: City: Carlisle State: PA Zip: 17015 oeJ ~~ .. ~- ~~~~ :. _; ~'. -- -- -- '~.~ I~~ ~~ ~~ s .~ E Y .`~1I~H. Ltl ~R}c~t'~' yt y ~ Y I ~'~ ~.: to y,1. ..+w, ,.~:^ .. ,a,,. _ _ ,.. a A r k:-. ~ "" r ,~ ~ ~1,,~„~ ~ .x .~ ., r '•. y i,'9 N A ~ ~ h' W 'a .J" ~tYpA' .r. '~' .~ t~^~ + ~'"~~1~, rC s ~ Otis f ~ s ~, f.~ 'uy ,,~.` ~,~ ~~~py;•"~bybsgg'~i,,,J X. 1~-. ~ ~~ ya'~,~y1r~~~~,y~„,"rfF`~`w ~.;''~ ~,~r ~c.~,-, ~..,~ r~~ ~^IAS f e~+ r~F~'~" ~ i G~wi4~„l'~.'~~ ;V-t i~ +. ~~ai~ Y~ .yam ~ t~~f' ~a "~~' "qsS'~ i , a a ~~ r+y ''~ s,,,,.r~'i~r?6r ~ i ''" ~~ u yy~r.^ a.., ,~ ... ~ ~~~ i ^: ~ ~ .L'"~~+~:_':_~Y~.-.%"ry, Y7±s. ~s°'?`..-?'~.~4''~h~n'?.e :,i1=~~.~~+-:~~-'~'~'.. tit'~`,~mw~~?i.9v'i ,'.' -~' ,:-~.r~.i.~, '- z r~ 1 f y~ COMPARABLE PROPERTY PHOTO ADDENDUM Client: Clyde O. BEAM Estate File No.: 09-0450 Property Address: 29 Tunbridge Lane Case No ' City. Carlisle State' PA Zip' 17015 COMPARABLE SALE #1 3 Briarly Drive Carlisle 17015 Sale Date: 5109 Sale Price: $ 167,000 COMPARABLE SALE #2 27 Greenfield Drive Carlisle 17015 Sale Date: 10109 Sale Price: $ 185,000 COMPARABLE SALE #3 18 Clifton Terrace Carlisle 17015 Sale Date: 4109 Sale Price: $ 160,000 Client: Clyde O. BEAM Estate File No.: 09-0450 Property Address: 29 Tunbridge Lane Case No.: City: Carlisle State: PA Zlp: 17015 yer..Rd __..._ --_=_ .^.-_ _ - go -__.__ __-____ s-.._..- - _ - -__ - - - ~i 9j ~~ - I - ~ I a O~~so~' ~ - ~._ Garland_pt--. it - -- y~. p',.~' ~ ~•Crommunity': Sa.'. ! i i _ ~~'1..--- ' __ Nursery School. ~ ' ~ pL~- - _ ~ Carlisle I ~t ; ~~ _ ._ b ', ~' ,I '~ ~, i~ ~.Sfohe~- _ - ~ I' .' _ d9v-.~r._~_ - - ~~ ~' •, ; ' ( ~ -~, _ ;~ ' ~ I _ ~ - - _ _ ~ ~ i i ! -- ---- i -~ I i ~° _wH]I t I i I ~~ ; i ~' :I i D. Comparable Sale 3 ' ~ ;~ 18 Clifton Terrace ' '~ ' ~ ~ a ~m Carlisle, PA 17015-7624 -- - - _ r ~' ~_ -- _ i 5,'' (0.43 miles NNW) ~~ ------ -__.8 _ - ---_ ~- -- ~ I ;o Im ~ Ic Forst ~n_ _ - '~ - ~ _' ;~ ' --------- - ; ~aYg~ .D~' . _ ..-- -- --- ~ ` ~ Todd- Rd-- .... - - - -- • ~ `• `- ~ionehed9g Dr__ ~' ', ,.t,. i ~', .. _ _ .. i' t _ _ Comparable Sale 2 Subject 27 Greenfield Drive 29 Tunbridge Lane Carlisle, PA 17015-7611 Carlisle, PA 17015-7684 (0.10 miles E) i - _ I _ I _ --- I ' I ~~q .'~ Comparable Sale 1 '~~ _ 67 Briarly Drive 8rca~,~X_ ~ Carlisle, PA 17015-7670 _ -- - ,;7n'~i11_Ck = I (0.13 miles S) --- -• .'-- _ ,, _ _~ I _-_ - _ _-__ -- St Patrick _ -- -!^ School r 0.28 rtdle ®[009 Miero50R COp ®2008 N/YkQ,aM//rTlk IEas,InC. in 129.30 128 93 y 75.53 y 36.00 36.00 59.64 118.36 o N W O ~ W o w O, ~,,, o W ~ o ~ Cry ..i :..i. W W ~ tD N n~ p 0 y W .~. j~3 W „ ~ N : ~, w~ o ~, . i n ti's y~ y o o ~ ~ .~' C7 ..~ w ~ .,.i ~ W . -..1 N Or, pb~ j °o W ~ ,,~ ,., v9 65 38.42 y Cat t~'r -~ ..~ N w -~ 5 ~ £9'$£b 0 00 o ~ Ob ~~ 67.05 j Bg w ~~V ~ h ~~ o ~ N ~ w 6~ i C p. o ~ P ~ OLD ~ ~ ~, ..+ ~0~1 ro4 "'] ~ 8Z'£56 N s9 .r, y4 -~.{ ~~ .P ~ / y 43.60 atst $ W y ~ c4 O ~ ~ N ~ ..i N ~''' W ~ vr~` N ~ ~J~ ~ ~ ~~ ~O ~.5./ o ~ j ~ y ~ N h •~' .. (}1 ti9 £~4 j -~' o N Y ~ ~ W C7 .p. 3 1 ,~^- C7 6Z~O~ o N -P ° ~~ ^' o 6Z~0~'4 ~ ~, t~3't o n ~ c$ `~ w o ..~. ~'' s ~ oa N o v' 0 6Z~Otiti y -°o '~'...! '~ o O ~ ~ o n .P _~~ ~ w :~ .6, /Z ati" 1 ,.~ i j [y .P ~• ,,a 6Z pti1. ° o v ~ _' S ~ 6Z~0~4ao rn q o o n O ptiV 6Z ~ / ~ " z ~ cy £o o~ti .m N ~ ~ . ~ ' '~ N~ ~ ~ Zi ~~ File No. 09-0450 ********* QUALIFICATIONS ********* 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 neighborhoods 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. _x_2. Commercial/Industrial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods. _x_3. Vacant and undeveloped land uses are located within the subject's neighborhood. These uses are typical for the area. 4. The predominant value in the neighborhood 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 this style. 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 hazard. _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 neighborhood. This condition is considered common and typical for the neighborhood. _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%. 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%. 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. _16. One or more comparable sales are older than six(6) months. Although there are comparable properties in the subject's area, none have sold recently; therefore, sales in excess of six(6) months have to be used. All comparables used are the best available. _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 neighborhoods 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. 'k******** QUALIFICATIONS *"******* _24. The subject property is located on a private road. _25. Wood infestation inspection is suggested. _x_26. Last recorded deed transfer: Date 615/1998_, Consideration: $125,900 _27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like manner. _28. Seller is paying part or all of closing costs. _x_29. All 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. CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. File Na. 09-0450 ********* QUALIFICATIONS ********'k Confidentiality and Security Policy We consider privacy to be fundamental to our relationship with clients. 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 permits us to 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 information is made available for limited purposes and under controlled circumstances. We require third parties 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, land/or Steven W. Barrett, SRPA, SRA, ASA have completed the requirements under the continuing education program of the Appraisal Institute. ~~ ~ ~~ a Cumbnrland County Tax Parcel 40-24-0748-131 :~~ ILot No. 149, Phase IV-9) ... .. ~: i ..: !.:: ; "'~: :'I• '9d JUI~ 5 fill 10 OG D~ THIS DEED is made the ~_ day of 1998, B E T W E E N GRSENFIELD COIIRT LIMITED PARTNER9HZP, a Pennsylvania limited partnership, record owner, and MAX D. MARBAIN, an adult individual, equitable owner, (together "Grantor"), A N D CLYDE O. BEAM and DIANE L. BEAM, husband and wife ("Grantee"): W I T N E S S E T H That the Grantor in consideration of ONE HUNDRED TWENTY-FIVE THOUSAND NINE HUNDRED DOLLARS ($125,900.00) paid by Che Grantee to the Grantor, the receipt whereof ie hereby acknowledged, does hereby grant and convey unto the Grantee: ALL THAT CERTAIN lot or parcel of ground situate in South Middleton Township, Cumberland County, Commonwealth of Pennsylvania, more particularly, bounded and described in accordance with Final Subdivision Plan far Greenfield Phase IV-B recorded in Cumberland County Plan Book 72, Page 97 (the "Plan"), as follows, to wit: BEGINNING at a point on the southern right-of-way line of Tunbridge Lane (50 feet wide), said point being on the dividing line between Lot No. 149 and Lot No. 150 as shown on the Plan; thence continuing along the said dividing line South 00 degrees 47 minutes 54 seconds West a distance of 127.91 feet to a point on line of Lot No. 192 ae shown on a previously recorded section of Greenfield; thence along Lot No. 192 the following two (2) courses and distances: (1) South 59 degrees 11 minutes 29 seconds Weat a distance of 21.14 feet; and (2) South 81 degrees 00 minutes 30 seconds Weet a distance of 18.26 feet to a point on the dividing line between Lot No. 148 and Lot No. 199 as shown on the ~D1( 17i3 P1,i,E 7,~ Plan; thence continuing along the said dividing Line North 00 degrees 47 minutes 54 seconds Esat a distance of 142.09 feet to a point on the southern right-of-way line o€ Tunbridge Lane aforementioned; thence along Tunbridge Lane South 89 degrees 12 minutes 06 seconds East a distance of 36.00 feet to a poinC on the dividing line between Lot No. 149 and Lot No. 150, said point being the point and place of BEGINNING. BEING Lot No. 149 and CONTAINING 4,931.77 square feet. UNDER AND SUBJECT to a drainage easement of varying widths located within the southern boundary line of the above described lot, as more particularly shown on the Plan. _ BEING part of the same premises which Max D. Marbain, Agent, by deed dated May 11, 1990, and recorded in Cumberland County Deed Book O, Volume 34, Page 239, granted and conveyed unto Greenfield Court Limited Partnership. AND the said Greenfield Court Limited Partnership entered into an Agreement of Sale and Purchase dated November 1, 1990, with Marbain, Inc. (the "Agreement"), a Memorandum of which is recorded in Cumberland County Miscellaneous Book 415, Page 1028. AND the said Marbain, Inc.'s interest in the Agreement was assigned to Max D. Marbain, an adult individual, by Assignment of Purchaser's Interest in Agreement dated May 27, 1993, and recorded in Cumberland County Miscellaneous Book 445, Page 299. UNDER AND SUBJECT to a Master Declaration of Covenants, Conditions and Restrictions Applicable to Building Lots in Greenfield Residential Development dated March 9, 1993, and recorded in Cumberland County Miscellaneous Hook 439, Page 185. FURTHER UNDER AND SUBJECT to all easements, restrictions, encumbrances and other matters of record or which a physical inspection of the premises would reveal. - 2 - eaoK j.7$ PACE ass Grantor hereby covenants and agrees that Grantor wi22 warrant SPECIALLY the property hereby conveyed. ZN WITNESS WHEREOF, the Grantor has caused this Deed to be duly executed as of the day and year first written above. WITNESS: GRANTOR: GREENFIELD COURT LIMITED PARTNERSHIP: /j~~ Max D. Marbain Attorney-in-Fact G Z Max D. Marbain y ~~.~,.~..`s ono ~ ~~ ~~u~~ 3 '~. ~ ~ !d'' ,,JJn ~TC ~Cm ~ $ ~ M •~G t0 C 'tl r e p ~ .o ~ ~ n~ +.. ~ 8~~ 17V ~~ I JI ~~~~.~~.. ~~lX~ri y Sh ~o~~~oo ~soo~ao i~,~ COMMONWEALTH OF PENNSYLVANIA . SS: COUNTY OF On this, the ~,~ day of .,Lit 1998, before a Notary Public in and for the above-named Commonwealth and County, the undersigned officer, personally appeared MAX D. MARBAIN, individually and as Attorney-in-Fact for GREENFIELD COURT LIMITED PARTNERSHIP pursuant to Power of Attorney dated April 6, 1992, and recorded in Cumberland County Miscellaneous Book 415, Page 1039, as restated in Miscellaneous Book 939, Page 883, known to me (or satisfactorily proven), to be the individual who executed the foregoing instrument, and duly acknowledged to me that he executed the same on his own behalf and as Attorney-in-Fact for Greenfield Court Limited Partnership for the purpose contained therein. IN WITNESS WHEREOF, I hereunto set my hand and official seal. .,,, . f'% .~ ~ ~ Notary Public :. r `JO ~Q. (SEAL) ,i?. ~-1p~~~((',r:~.` 1~~..;{~,',•!'` ,~~~F~~ NWaNaI Saal Ama Marty Madar, Notary Pudk Camp Nil aoro. Cumb~W W Corwwy MY CommMNon E~piraa Aup. 7, 2000 MgnMr. PanMvaNv pon A~ eooK 178 rncE 758 I hereby certify that the precise residence of the Grantee herein is: 9 /~/1l~ i~nG .~.nG ~'~n.r/.'s .fit i7~D/R ney ox~~n~ for Grantee COMMONWEALTH OF PENNSYLVANIA SS: CO[INTY OF CUMBERLAND . RECORDED in the Office of the Recorder of Deeds in and for said County in Deed Hook ~, Vol. Page 75~ . 1 WITNESS my hand and official seal this !J day of ~, 1998. ~~R~ o ~o Dee a G ~~. .~'i ~~~ ~' ~J aooK 178 racy ?59 ~ ~ ~ y ~ o d' v~ m ~ ~ F? • Q .C9 ~ ^ r , . p N 'CC '~.. QQ . > ~ .: ~r~ :~ >., : , : ~ ; . ~, . , . d . q ycr . ~t --i ~ ~ } i; ,: •py ''` ;mil"' ~,~ *~ :,E ~~ 1r~ ems, .. y y, '~o ' . . ~ ~ N >.• „ `•<;'~''i.~a.~~ ~' ..r~r: CJ ~`- •.~, JiL" ~ '~ r . r.. . ~ a S ZT~=v.+^..~A { M : (yx !~~~ 't (~ ~ '~ ~ V~1 lam ~~ - ..j a- •, ~B v/ N tF ~~'~.~ ti 4l ~.. F ,'`f . 'd' ' Q V ~ a „ L d ~ ~ ' ~c ~ Sr .. L ~ ~ ~ ~ G p„ r ~. ~ Y ~ o ._ a v is o ~, ... ~ c ~ C~ ~ W o . v v :• • ~ . H ~~ ~ ~ ~~ ~ ; ~, ':}z~ ~ ,~ 5` ~.. ,?`r' V e- CX. • gray >',>%s's; ~ ..,U :2',' ^Y.. :xK.> SKaF r.+ T> XiY ''i. ' ' ::: ~ 2 °;. :3y ~-: i. Q tai Ir?~ ~ i~~ ~+~k~ £i, , '~i:~`yr.a?,.• ;..H,^v~ .i`i'~~ti':w .. i1^I:~.4`~:Ma~.~,•. t.~r.{.Zi.;\,:X:'.`~" ~:^ 'y' , .. •.,V.,a'a, . .... • V~ ...: ~ .: : r'~ ~.w• - .„'~!-1 s'`, `s ~;>.~ ..Fzw,;i ~g t`g<::::. ,..:s''~" •Yaas,.:`. :`.w;.x.a .•,?:f' .:Syry.,,:.,`rr~,4 .ayC„~y>!::4;SF;' Y_; ,: ;x'.y ~+ n,. ~ S ~ yr :o' ~• '. :;ti: . cry,{ .r ~~ 'jiy ~ ::,.,,;~.:''t ~ e ` ~ Y , .. ~' i. ~f r!`'.TN'w C ; •~ V o O a .~ ~' .., • a '~' N ~.... V ~~ W w ~ Q ~ c .` a W ~ t~ W M ~ ~~ N ~+ ~ ~ a W ~ o ` ~:`•; u ' ; r ~ Z ,cs'' :-: wt. Syr - a. ~.:`:..: iu<.or{:+:•i" _ ,:..,-,•.e::: t,Y ~~rzjt-'Y: 4.. ' C x'' !'~ JIC~ r~ :i(~S ~"" ~Yr ~k .y.a" `p'Xa(.a~r~sr ;%". F. j•~,',:.; v'pi ::?~rY~1 r.1 •y,;:I `^~~`~v w .Q `l. .t'n~F • N ` ~ y~~.;~sFr 4: .,^. `}Sj ~,; pT.*C•S~r :1=' FsF :<to,Nja s'ty : ~•,; '..v S. W. Barrett Real Estate S Appraisal Services File No. 09-0-449 APPRAISAL OF . ~ 1 J ~ ~ i ., i SS ~f ,+ 111."rJ.. ~i9~ F Pte,, w~s,~ ~7pi~®~ ~;s~. :. . . ~:,: k ~~ ~ ~:.:, ~:,, ,} ~,. k "•Y~ ... ~ .• a`,t Y ~ v - 'G yx '.x~ .. ., .. .. ~: LOCATED AT: 320 S. Middlesex Road Carlisle, PA 17013 CLIENT: BEAM Estate 29 Tunbridge Lane Carlisle, PA 17015 AS OF: September 27, 2009 BY: Cassandra J. Crockett PA Certified Residential Real Estate Appraiser S. W. Barrett Real Estate & Appraisal Services File No. 11 /30/2009 BEAM Estate 29 Tunbridge Lane Carlisle, PA 17015 File Number: 09-0-449 In accordance with your request, I have appraised the real property at: 320 S. Middlesex Road Carlisle, PA 17013 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 September 27, 2009 is: X750,000 Seven Hundred Fifty 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, Cassandra J. Crocke PA Certified Residential Real Estate Appraiser Summary Residential ADgraisal Report File No. 09-0-449 The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal. Client Namellntended User CI de O. BEAM Estate E-mail Client Address 29 Tunbrid a Lane Cit Carlisle scace PA Zi 17015 Additional Intended Users The intended user of this re ort is the Client. No additional Intended Users are ermitted without the ermission of the a raisers . Intended use The Intended Use is to evaluate the roe that is the sub'ect of this a raisal to rovide the Client with an accurate and ade uatel su orted o anion of value. Pro a Address 320 S. Middlesex Road Ci Carlisle State PA Zi 17013 owner of Public Record CI de O. 8~ Diane Beam 50% and Gwendol n D. Sunda 50% count Cumberland L al Desai 'on Deed Book 169• Pa a 772 Assessor's Parcel # 21-08-0573-014 Tax Year 08/09 R.E. Taxes 5 3 060.00 " Nei hborhood Name Middlesex TOwnshi Ma Reference 08-0573 Census Tract 0118.03 Pro Ri hts A raised Fee Sim le Leasehold Other describe M research did did not reveal an for sales or transfers of the sub'ect o for the three ears for to the effective date of this a raisal. Prior SalelTransfer: Date 12/22/1997 Price 51 Sources Courthouse Records Analysis of prior sale a transfer history of the subject property (and comparable sales, i(applicaWe) No further recent recorded transfers were found. Offerings, options and contracts as of the effective date of the appraisal None known Nei hborhoodCharacteristfcs One-UnitHousingTrends One-UnitHOUSing Present LandUse% Location Urban X Suburban Rural Pro ert Values Increasin Stable Declinin PRICE AGE One-Unit 73 % Built-U Over 75% X 25-75% Under 25% DemandlSu I Shorts a In Balance Over Su I S 000 rs 2-4 Unit 0 % Growth Ra id Stable Slow Marketi Time Under 3 mths 3-6 mths Over 6 mths 150 Low New Multi-Famil 0 % Neighborhood Boundaries Sub'ect is bounded on the north b Rt.11 • on the east b Old 600+ Hi h 100 Commercial 2 ~° Stonehouse Road• on the south b Rt.74• and on the west b I-81. 200 Pred. 20 ocher Vacant 25 °i° Neighborhood Description Sub'ect roe is located in an ex andin area of sin le famil homes and farms between Carlisle and Mechanicsbur . Sho in and other amenities are within a short drivin distance. Schools stem is Cumberland Valle District and students are bused. SMSA 42-3240. Market Conditions (including support for the above condusions) Pro a values are current) stable in the sub ect ro ert 's market area. Local multi-list data indicates an avers a marketin time of 90-180 da s. Lendin rates have remained favorable althou h sales concessions are occurin more fre uentl .There are new homes under construction in surroundin develo menu as well as re-sales available in the nei hborhood. Dimensions See le al descri tion/tax ma Area 114.85 Acres M/L Sha a Irre ular view Residential/Count sic S 'ficZoni Classification RF Zonin Desai lion Residential Farm Zonin Com liance X Le al Le al Nor-conformin Grandfathered Use No Zonin Ille al describe Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X Yes No Ii No, describe. Utilities Public Other describe Public Other (describe) Off-sitelm rovements-T e Public Private Eledricit X 100 am Water X Well Street AS halt X Gas Sanita Sewer Se tIC Alle None Site Comments Well/Se tic common for area and have no adverse affect on marketabilit .There are no adverse easements encroachments or other adverse conditions. Site also has fronts a alon Horners Road and ` is taxed in Penns Ivania's Clean & Green ro ram for reservation of a ricultural land. GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials INTERIOR materials Units X One OnewlAcc. unit Concrete Slab Crawl S ace Foundation Walls Stone/A-F Floors Hrdwd/Vin IIA-F # of Stories TWO Full Basement Partial Basement Exterior Walls Brick/A-F Walls P18ster/A-F T Det. Att. S-Det.lEnd Unit Basement Area 1280 . ft. Roof Surface Metal/A-F TrimlFinish WOOd/A-F Existin Pro sect UnderConst. Basement Finish 0 % tuners a Downs outs Aluminum/A-F Bath Floor Vin I/A-F Desi n S le 2 Sto X Outside En /Exit X Sum Pum Window T DbIHn /A-F Bath Wainscot PIStr/Panel/A-F Year Built 1800 Storm Sashllnsulated StOrmS/A-F Car Stora a None Effective A e rs 20-25 Screens Yes/A-F Drivewa # of Cars 2 Attic None Heatin FWA HW Radiant Amenities WoodStove s # Drivewa Surface Stone Dro Stair X Stairs Other Fuel OII fire laces # Fence Gara e # of Cars Floor Scuttle Coolin Central Air Conditionin X PatiolOeck Patio X Porch 8 x 22 Car ort # of Cars Finished Heated Individual Other Pool Other Att. Det. Built-in A liances Re(ri erator Ran e/Oven Dishwasher Dis osal Microwave Washer/D er Other describe Finished area above rade contains: 8 Rooms 4 Bedrooms 1 Bath s 2 560 S uare feet of Gross Lavin Area Above Grade Additional Features See Attached Addendum Comments on the Improvements Im rovements are in fair to avers a condition. Gravi heat onl to 2nd floor bedrooms• evidence of interior and exterior wear and tear/deferred maintenance• earth floor in basement• attached stora a shed/breezewa to rear in fair- oor condition. Outbuildin s are considered in fair condition. .._~___....~.._•.............,.....~.,.... .......-,.....:,.,,.,,~~ „~~,,.,,,.,,,r,p~yc-cwo-eu,o r~i unniuiw ~~u uaims services. inc.. nn Kgnts rt°scyvea. Page 1 d 2 (g PAR'"') General Purpose AogrARSUM epos 7212008 CG WOCI 022a2009 ADDENDUM Client: BEAM Estate File No.: 09-0-449 Property Address: 320 S. Middlesex Road Case No.: City: Carlisle State: PA Zip: 17013 Additional Features Center hall two story with additional staircase off kitchen to rear bedroom on 2nd floor; earth floor in basement, walk-up attic in average to fair condition; attached storage shedlbreezeway in fair to poor condition; outbuildings include: frame/stone bank barn [40 X 70], block milk house [10 x 18], frame machine shed (20 x 32), frame storage shed [14 x 28], frame equipment storage/garage [20 x 38], corn crib and silo all in fair condition; wood & wire fencing, metal gates, stone walls. Addendum Page 1 of 1 Summary Residential Appraisal Report File No. 09-0-449 FEATURE SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.3 320 S. Middlesex Road Address Carlisle 17015 415 E. Old York Road Carlisle 17015 1170 Peffer Road Mechanicsbur 17055 2007 Walnut Bottom Road Carlisle 17015 Proxim' toSub'ect 4.56 miles SSW 4.23 miles SE 8.02 miles WSW Sale Price S $ 746 000 s 600 000 S 720 000 Sale Price/Gross Liv. Area S 0.00 s . ri. S 270.29 . ri. $ 340.91 s . ri. $ 316.62 s . ri. Data sources Ins ectjon verification sources Deed/Crths.Rec. ML5/Courthouse Records Courthouse Records MLS/Courthouse Records VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION -)Sa4us>mmernt DESCRIPTION +{-)SaduslmeN DESCRIPTION .(-)Sa~justmert Sale or Financing Concessions None, Conv None, Conv None, Conv Date of Sale/Time 5/4/2009 9/8/2008 8/31/2009 Location Suburban Suburban Suburban Suburban Leasehold/Fee sim le Fee Sim le Fee Sim le Fee Sim le Fee Sim le site 114.85 Acres+/_ 90.79 Acres+/_ 120 000 83.6 Acres+/_ 156 000 120.8 Acres+/_ -30 000 view Resid/Cnt sd Resid/Cnt sd Resid/Cnt sd Resid/Cnt sd Deli n s e 2 Sto 2 Sto 2 Sto 2 Sto ali of consbuction Avers a/Brick Avera a/Alum 5 000 Avera a/Brick Avera elAlum 5 000 .' Actual a e 100 Yrs+/- 100 Yrs+/- 100 Yrs+/_ 100 Yrs+/- Condition : Fair-Avera a Avera a -15 000 Fair-Avera a Avera a -15 000 _ Above Grade Taal Bdrms Baths Tdal Bdrms Baths Taal edrms. Baths Taal Bdrms Batts Room Count 8 4 1 9 5 1.5 -1 000 10 5 1 6 3 1.5 -1 000 Gross Livi Area35.00 2 560 s . ri. 2 760 . ri. -7 000 1 760 . ri. 28 000 2 274 . h. 10 010 • easement&Finished Rooms Below Grade Full Bsmt/ Earth Floor Partial Bsmt/ Concrete 0 Full Bsmt/ Earth Floor Full Bsmt/ Earth Floor Functional utili Avera a Avera a Avera a Avers e - Hearin /coolin OFHA/None OHW/None OFHA/None OFHA/None Ener Efficientttems T ical T ical T ical T ical tiara elCar ort OSP OSP Car ort -2 000 1 C Gar/Wksh -6 000 PorchlPatio/Deck PorchlPatio Porches Porches Porches Amenities Bank Barn/ Bank Barn/ BnkBrn/MobHm Bank Barn/ Outbid slFair Outbid s/Fair Outbid s/Av -30 000 Outbid s/Fair Net Ad'ustment Total X + $ 102 000 X + - $ 152 000 + X - ~ 36 990 Adjusted Sale Price otCom ambles Net Adj. 13.7% GrossAd'. 19.8% S 848 000 Net Adj. 25.3% GrossAd'. 36.0% $ 752 000 Net Adj. -5.1 % GrossAd'. 9.3% $ 683 010 summa of salesCom arisonA roach All com ambles are similar ins le u tili and location to the sub'ect roe are verified closed sales and are the best current/ available. Limited farm sales have occurred recent) re uirin an ex ended search. Sale #2 had a mobile home on the site and a newer ole buildin & silo. All of the com arable sales were also in the Clean 8< Green a ricultural reservation ro ram. Sur lus a ricultural land was ad'usted at $5 OOO/acre. Ad"usted ran a of value is $683 000 to $848 000 Sa $750 000. Discussan of methods and techniques employed, including reason for excluding an approach to value: Cost A roach was Considered but deemed not credible due to the a e of the im rovements. Income A roach not relevant to current use as a sin le famil residence. Reconciliation comments: Market Anal sis consistent/ su orts m o inion of market value. Cost A roach and GRM were found _ ins ro riate for this anal is. Greatest wei ht is a lied to the Market Data Anal sis. Su ortin file information substantiates these estimates. Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion otthe defined value of the real property that is the subject of this report as of 09/27/2009 ,which is the effective date of this appraisal, is: QX Single point $ 750 000 Range $ to S ~ Greater than ~ Less than $ This appraisal is made X "as is; subject to completion per plans and specifications on the basis of a hypothetical condition that the improvemenLS have been completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed ~ subject to the following: '::cd~~~~un~ ProduudusmACJvJw.~. amrrea~n"....,..:.w,...,.. -_ ~ ~/'~' Page 2 OI 2 - - ---- --., . -.~- _....,. .~ ~ ~.,., ...~~4 x...o. ~~. m ngms nexrvea. M (gPAR ) Gereral Pupose appraisal Report 17/2006 ~~ 1' GPMSUMWOG 02242009 File No. 09-0-449 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" fn short, scope of work is simply what the appraiser did and did not do during the course of the assignment. It includes, but is not limited to: the extent to which the property is identified and inspected, the type and extentof data researched, the type and extentof 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 to the intended use of the report This reportwas prepared for the sole and exclusive use of the client and other identified intended users for the identified intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report. The appraiser's certification appearing in this appraisal report is subjecttothe following conditions 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 mighthave affected the assignment results. 1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or Mfe thereto, nor does the appraiser render any opinion as to the title, which is assumed to 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 only to assist the reader in visualizing the property. The appraiser has made no survey of the property. 3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made thereto. a. Neither all, nor any part of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations, or the firm with which the appraiser is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without the written consent of the appraiser. 5. The appraiser will not discose 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 to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be Uue and correct. However, no responsibility for accuracy of such items furnished to 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 conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and should not be considered as such. 8. The appraiser specializes in the valuation of real property and is not a home inspector, building conUactor, sUuctural 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 property and arty improvements is for purposes of developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condition are based on surface observations only. The appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation, radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested. This appraisal report should not be used to disclose the condition of the property as it relates to the presencelabsence of defects. The client is invited and encouraged to employ qualified experts to inspect and address areas of concern. tt negative conditions are discovered, the opinion of value 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 o(lhe property by the appraiser was limited to readiy observable areas. Unless othervvise noted, attics and crawl space areas were not accessed. The appraiser did not move furniture, floor coverings or other items that may resVict the viewing of the property. 9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will be competently performed. 30. Unless the intended use of this appraisal specifically includes issues of property 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. The Definition of Value used in this assignment is unlikely to be consistent with the definition of Insurable Value for property insurance coverageluse. 11. The ACI General Purpose Appraisal Report (GPARTM) is not intended for use in transactions that require a Fannie Mae 1004lFreddie Mac 70 form, also known as the Uniform Residential Appraisal Report (URAR). Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions _ "" ~ Vroduced uvrg Aq sohware, EW.23<.e727 w~w.adweb.com Tho loan Copyright 02[1052008 Aq OiNSiar al ISD Claims Setvitts. Inc, Aq Rights Reserved ',, h~r Page i of 2 faPAR"'t General Purpose Agoraisal Reuorr 1712005 File No. 09-0-449 Appraiser's Certification The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief: 1. The statements of fact 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 conclusions. 3. Unless othewise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest v~ith respect to the parties involved. 4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results. 6. The appraiser's compensation far 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, the attainment of a stipulated result, or the occurrence of a subsequent event directly 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. 8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report. 9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by: Additional Certifications: Definition of Value: XQ Market Value ~ Other Value: Source of Definition: USPAP The most 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: 320 S. Middlesex Road Carlisle, PA 17013 EFFECTIVE DATE OF THE APPRAISAL: 09/27/2009 APPRAISED VALUE OF THE SUBJECT PROPERTY $ 750,000 APPRAISER ~ Signature: / Name: Cassandra J. Crockett State Certification # RL001348L or License fl or Other (describe): State si: State: PA Expiration Date of Certification or license: 06/30/2011 Dale of Signature and Report. 11/30/2009 Date of Property Viewing: 09!27/2009 Degree of property viewing: XQ Interior and Exteror ^ Exterior Only ^ Did nat personally view ~:..par'TM SUPERVISORY APPRAISER „~.~ ` l f. . Signature: ~ "~- `~ ~-~-'^ ~'-~- Name: Steven W. Barrett, SRPA, SRA ASA State Certification q GA000298L or license s R6026921 A State: PA Expiration Date of Certification or License: 06/30/2011 Date of Signature: 11 /30/2009 Interior and Exterior ~ Exterior Only XO Did not personally view Date of Property Viewing: Degree of property viewing AC sdtvrare, EW.230.9721 vmv.edvreb.cwn TMs lam Pape 2 0l 2 S.W. Barrett Real Estate 8~ Appraisal Services CI Division d ISO gaffrs Services, Inc, AN RigMS Reserved. (gPARTM) General PuryoSe Appraisal Report 1?/20D5 GPARLIM 050611200E SKETCHfAREA TABLE ADDENDUM Case No File No 09-0-449 Property Address 320 S. Middlesex Road City Carlisle County Cumberland State PA Zip 17013 Borrower Clyde O. Beam (Estate) Lender/Client BEAM Estate UC Address 29 Tunbridge lane Aooraiser Name _ Appr Address zo.a Bedroom Bedroom c r n ~ Bedroom Bedroom Bath 40.0' Comments: zz a o .~ ~~ b Code AREA CALC Description ULATIONS SUMMARY Size Totals GLA1 First Floor 1280.00 Second Floor 1280.00 2560.00 P/P Porch 176.00 Patio 220.00 396.00 OTH Shed 400.00 400.00 TOTAL LIVABLE (rounded) 2560 Scale: 1 = 12 I LIVING AREA BREAKDOWN Breakdown Subtotals First Floor 32.0 x 40.0 1280.00 Second Floor 32.0 x 40.0 1280.00 2 Areas Total (rounded) 2560 APEX SOFTWARE !00-056995! Apt8100-w Apexll SUBJECT PR~JPERTY PHOTO ADDENDUM ~lient: BEAM Estate File No.: 09-0-449 property Address: 320 S. Middlesex Road Case No.: amity: Carlisle State: PA Zip: 17013 3~ ;A~ ~ l ..i ; ? r ', ~ ~ ~. aj,~ t i. e, ~~ ~ti q 'A~a ~ ~ ~ 1~,~. ~ ~~ Yy~ ~ ~~/ G . 1 i ~ ~~ 1 , '~ ~~ ~ .,, 'tr ~ u v~~ ~ ~4 ~ ~, ~~ 9 ~~ °n~ :~ ~~ ~~ I- ~ ~~ ti ~~. ~ ' t,. - ~ ~ ~ _ ~~, .3 _ ~ "~ 1 C~ _ .~a ' . ~-~ ~P~: '~ ., ynv. ~ ~ ~ [111 ` K~ ~ !~ C Vf ~ J f °~~ 'V ' _ ~ ~ lr ~}~S C {... .... _ ~ ~„;~~ • ~ :N=`yp ~^+~E'.k4t~ _ym ~fe k _ e~ ~ ~ ~ u l i ~ ~~~ - !,~ oaf . a+v: <` ~ t -~ ;.+~ ~~ - -_ .~ ..-- - __ ~.~~ ~ . _ air ."~,"~'~~" ;yam. ~,~- J ; +r° a g ;,ti ~ :t ~ 4 . .{~ .. .. ~ FRONT VIEW OF SUBJECT PROPERTY Appraised Date: September 27, 2009 Appraised Value: $ 750,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE ~lient: BEAM Estate File No.: 09-0-449 ~roperry Address: 320 S. Middlesex Road Case No.: ~ity: Carlisle State: PA Zip: 17013 Y,~-l~. -; <.~ r .r 1~^,. F ,, 'y ,. / ! ,(iii ~ (:/ /, ~' e+ ' . ,~ '~~~, ~:< ~.. r,. 1 i~ ~ E .,~ ~ .. ~ .~N A t~ ~~~ ~~eaM P r ~f `' Yk ~ '~' T'~~ ~ , n ~ ~ l ,. c i ~ ~ ~ :~' t' ~ ~ ~ ~ }'+ I e , 4 d' l t y X ~ barn and storage shed Bank barn, silo barn ~ milk house ~tient: BEAM Estate File No.: 09-0-449 property Address: 320 S. Middlesex Road Case No.: ~ity: Carlisle State: PA Zip: 17013 ~ 1' . , ~' t T a - ;;_, ., f ,., P _..._ . f " ` ~', .. ~~... 7 -ys. t ~,~. . '~ ~ w 1 Ce ~• I n•~ -~ 'ip ... .. • -- - - - - _ :' ~ ;..~ 3 ass ~~ ~_~.~ ,::. -sir -- w } 1~~"'~+.Y ~ -:tea[^~ 4" t ~ ~ ~ `fa'iY ~C. ;~ f ~° ~_J _ ~ p 'y rY-i ~f"''n6 Ysf?µa' .• • ~ 4 r"~ 7 y' - 'C ~ ~ ~ ~4+~1r t ~+, ~jL~ TTI~•{V A! '• b y t ~ gyp: .• t--iW ~I ' ~~ ~s" ~ M'~ A~`Qe' ~r~d;... ~Y .T; fit;. x- y t, .+: ~.: ;. . .. Equipment storage Storage shed tractor storage/garage, corn crib Client: BEAM Estate File No.: 09-0-449 Property Address: 320 S. Middlesex Road Case No.: City: Carlisle State: PA Zip: 17013 ...;x ~ ~. i ~~ ~ t _ ~. "~ emu' '`' ~-= ~ __ F ~~~,~+~. ~ yK 4 1 ~`~qt a "3 arp, r~AV y,~k r ~ .E ., :,.~... a.. P~'~4:R. :k corner of site @ Homers Road Homers Road agricultural land COMPARABLE PROPERTY PHOTO ADDENDUM Client: BEAM Estate File No.: 09-0-449 Property Address: 320 S. Middlesex Road Case No.: Cit :Carlisle State: PA Zi :17013 ~~ ~~:c Y~ :bra - ' ~ 'T- y .L. ~e ~ ,, ' --~ ~. ~. " 4'~ ;: ii ...~...::~tr ~';,~{i ~ ?~ t=om • + " ' ~: +. ~us ~ ' ' ~. h b. . r. .1. • _ f s' y 7 ` ~ s }`,a ~, •p i. c S' - d! ,~ Z' t• t ( '' ~~ ~ '~~ ~~~~ rl.? ~ ~ P.ir a ~ ~ ~ ~ ~ „r5, } ~ i~E- FF e ~~ t ~ ,i r'b'. ..- ^ , .. ~~!! = y .. _ Mi y tk`l..L - ~ ~ ~ 5 , . oa `.~:_ t ~ ' r t; ~ ` f frrz~ ~~i 1 ~ ~!„~. ~~e q ~c,z~A ~~w.r» ,. +u.rc+~xi ~ } .. + 4 `-.~ ~ P~~~' ~' R S ~,~'. : qty Y+~ ~ ~?~ ~kiwYK, 4~ 'Y Ml'm • tfw1 _ -% .- ~ ~/~1~.. --t.. ~±....-~- ~-.. -~M.~"~'i .saute...: +.:'~ ... ~~y rpds ' I } ~ S 9?' ~.'.LaR!!t'. _ ~ ~ ~ ~ . - i Iq I i ~~ I ~, ' I p, ~~ I J s< y7p~ Y i .i~ L F Of ii - i 'k f~ ~ti `w~ +e ' ..... .... , F .~ A" .51f Te'm'^ ..... ... Y y/ 7 COMPARABLE SALE #1 415 E. Old York Road Carlisle 17015 Sale Date: 5/4/2009 Sale Price: $ 746,000 COMPARABLE SALE #2 1170 Peffer Road Mechanicsburg 17055 Sale Date: 9/8/2008 Sale Price: $ 600,000 COMPARABLE SALE #3 2007 Walnut Bottom Road Carlisle 17015 Sale Date: 8/31/2009 Sale Price: $ 720,000 Client: BEAM Estate File No.: 09-0-449 Pro a Address: 320 S. Middlesex Road Case No.: G :Carlisle State: PA Zi :17013 ___ _ _Q~ Kings Gap Environmental Education Center ,1 r . _ .®2009'IAisrosoRCOlp ®Y008 N1V1EQ.anApriek 4tlas,lnc. ~'. C~ ~-'. Ml S File No. 09-0-449 *i'******* QUALIFICATIONS *~**"**i'`* 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 neighborhoods 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. _x_2. Commercial/Industrial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods. _x_3. Vacant and undeveloped land uses are located within the subject's neighborhood. These uses are typical for the area. 4, The predominant value in the neighborhood 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 this 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 fbr descriptive purposes only and are not required repairs. The items listed are cosmetic in nature. _x_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 hazard. _x_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 neighborhood. This condition is considered common and typical for the neighborhood. _x_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%. These adjustments were required due to lack of more similar comparables on that individual rating. All comparables used are the best available. _x_15. Total adjustments exceed 25%. 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(6) months. Although there are comparable properties in the subject's area, none have sold recently; therefore, sales in excess of six(6) months have to be used. AIt 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. A11 comparables used are located in similar neighborhoods 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 tender's guidelines a maximum of acres were considered for this valuation. Remaining acreage was given no value. File No. 09-0-449 ~* QUALIFICATIONS **~'****** _24. The subject property is located on a private road. _25. Wood infestation inspection is suggested. _x_26. Last recorded deed transfer: Date_12/22/1997 ,Consideration: $1.00 _27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like manner. _28. Seller is paying part or all of closing costs. _x_29. All 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. CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. w,.., Nr~.....+.~. r. ~~~D~ Su~ E~ -- ~ ~ ~~~ ~~ MADETffE ~2 `L dayoj Deceaber in rhr year ojour Lard one thousand nine handed and ninety-seven (1997 ) BET;YEEN fO1LTSt D. SDNOAY and Gt98NOCLYN D. SD~H]NYr his wife, of - North Middleton ibwt+ehip, Cusberland Camty, Pennsylvania ca o ~, ' :_, rn -,~ ` ,~ 1 ;O r ~ r,~ N Y c 'r (~ C:: 'a 'v -O c~ ~ r.i 3 ° ~ = C aaV ~-~ t--Fran ~rT1r ~ t Z and WALTffit D. ~ and i D_ S[lODkYr his vife• of •< v •o r rn ' North Middleton lbwnehipr ~l~'td aotx'rtyr Pennsylvania ~ Gran trca : , W/TNESSETff shot in eoruidrration of peg ($1.00) Do118r and other good end Valuable considerations ~d(~ob in hand paid thr receipt wherroji! hrreby acknowledged, !hr raid grantors do hrrcby grant and conory ~~,~',`~, tothsraidgrantrB as tenants by entireties, ALL the undividttd one-tenth (1/10) interest ~ which vas awarded to Walter D. Sunday by Decrae'Awardinq Real Estate dated December 5, 1997 and recorded in the Recorder's Office in and for said Cutkxrland Coounty in Deed Book vol. 169! Page 4 in and to all those three (3) certain Cracta of land with the itnproveatenta thereon erected situate in the Township of Middlesex. in the County of Glmberlarx'f and State of Pennaylvtutia, bounded and described as follower to wit: TRACT ND. 1 ALL THAT CERTAIN tract or piece of land in Middlesex Township, Cumberland County, pennsylvania, bamded and described ae follows: B®GTNC7II~G at a atone in rood oQpoaita to the School House Lot; thence by land formerly of T. R. Williams, nov ae late of Shelton K. Garberr South 72 degrees Eaat 117.8 perches to a attxtet thence ty lands nw or formerly of Wm. Cortutan, South 6-1/2 degrees East 99.4 perches to a atone; thence by same and lands nov or late of Harper Wetzel. North 81-3/4 degrees Weal 94.2 perches to atorro in Middlesex Road; thence by lands now oc late of Lehman Brandtr North 1-1/4 degrees East 10.5 percfies to a atone in Road; thence by 9atngr North 67 degrees Weat 34.7 perches to a stone; thence by ianda now or formerly of William Hull and C. S. Fiekelr North 6-1/2 degrees West 184.3 perches to a atone; thence by lands formerly o! Ahl, South 76-1/2 degrees East 40 perches to a stoner thence by land fozmerly of T. R. Williams now or late of Shelton K. Garber, South S-3/4 degrees East 74.6 perches to a stoner the place of BEGII~IINC, 40th lfi~ FMC The said Margaret A. Sunday, a widow, by Deed dated December 29, 1982, and recorded in the Recorder of Deeds Office in and for CV~berland County, Pennsylvania in Deed Book "A", Vol. 30, Page 48, granted and conveyad an undivided tuo-fifth (2/5) interest in and to said three (3) adjoining tracts of land unto Walter D. Sunday and Gwendolyn D. Sunday, his wife. The said Margaret A. Sunday, a widow, by Deed dated December 29, 1982, and recorded in the Recorder's Office aforesaid in Deed Book "A", Vol. 30, Page 51, granted and conveyed an undivided two-fifth (2/5) interest in and to said tracts of land unto Diane G. Beam and Clyde O. Beam, her husband. lfifs is a conveyance from husband to husband and wife and is exempt from Realty Transfer Tax. ADID the said grantors hereby covenant and agree that they will warrant specially the property hereby conveyed. BUOK ~S9 PAfC "j7'~ !N WITNESS WHEREOF, said granrorg hayg hereunre set their handg and aeal9 the day and yrarfint above awiaten. / ,~1 (~ ~~t:a. rars~rn.aan ~dluereD --S'V~~t~..Gl _i._ _ .~w, ^ to tke ~rnrncr of Walter D. Sunday r ~~ ~~]~'~~~ ,/~ ciwencblyn $ttnday aacAl. -1~'~"`t'~~ ~~ «. ss sass tts4a, State ej Pennsylvania County of Ctarbgrlarxl J On this. the ~%7'`~° day of Deerattber , I99T , before mea a Notary Public in rued frx taaid State and County the undersigned o~ccr, penona/lyappeared Walter D. Sunday and Cdrendolyn D. SUndayt his wife, knotan to me (or aati.rjactorily proaen) to be the person 9 lahoae name 9 ate subscribed to the within instrument, and aeknoudadged that they eseratJSd the acme for the purpmu [herein eoneained. !N WITNESS WHERBO£, I hereunto sst my band and o~eial aeaL .. ~~ ~NatutY Pl~o o ~ `~..r-±Dls+,f.'r;. ~' Wtl~~EsarM ~ 1alltabl~ilt ty~ , , : ~ ; ~M SDI ~ /}~ ,, t``ti State of sa. County of On this, the day of , 19 , hejorr mr, Jhe undersigned ojferr, persona!lyappearad knouts to me (or satisjoctorily prooen) to be the person tohoae subscribed !o the toithin instrument, and ackntneledgrd that ke ezreuted Ike samejor the purposes therein contained. IN WITNESS WHEREOF. I hereunte set my hand and o~cinl sral. r~ ~_..___ ._.. r•JC:A I. yTi BOOK j,~ PACE 7"f~ Trlr o/Ojfrrr. j r!o lrrrrlrv nrrijr rhnr rhr lrrrri.sr rrsidrnrr xnd r.nnl~frrr f~n~r ~ //i~ ~ niidrr.s r./rbr n~ilhin nnrnrd ~rnnlrrS is 1048 HBrrisburg P1kBr Car11e18r PA 17013 December ~~ ~" f9 97 Auornry for Grantees _ ~S w1%. t ~ N ~ w~ L C7 ~ ~ Hlrl W Ll Q A ~ ~ COMMONI~'E THO PENNSYLY~IA ,.,. C ~~~~r~ '~Yryit R:`.:^ ~ i;+~„ RECORDED on this ---- ~ ` --•- dOy "f-- ~C- - -- - -- - . . ~Lr' : ~: "'~~'~','4~i~~ny, ~~D. 19~iw the Rrcorder i office ojthr laid Coonry, in D.r.! Aon4 ~. . '•pt~~.n ~%"`!'^~`~~` r~~ GiYen under mr hand an,,,d~~~///fJJJhe ual of fhe raid tda -abour urrirtrn. '~ / y Recardrr. 600K 1E9 PAGE 776 !N WITNESS WNEAEOF, said gronlorg hayg hereunto set their hand3 and rrAlg the day and yenr~nt above vrritten. B~tgaeD, 6calcD, aaD ~dlttaeD / , p ~ L ..-4'`~~i~.:=---~~-R^ lp llle ~1t7utrnct of ter D. Sttrtday ' SEAL tlrendolyn D. Sunday ~ / / .O 6 ~~ 31EL,L f 1E L Seder of Pennsylvania Counq'oj Cttmberlatxl ) , On thu, the :22~ doyoJ DecettbeC ,1997 , before me. a Notary Public in and for said Stata and County theandenignedoffiui peraonallyoppeared Walter D. Sunday atld Ouendolyn D. SUrldayr h1s viler known to me (or eatujoctorily proven! fo 6e the persona vhoae name y are subscribed to (he tuithin inatrumcwe, and aeknotetedged tho7 they uecuted the wme for the purposes thcrein contained. !N WITNESS WJIEREOF, !hereunto set my hand and a~eial seat • '~i~aSfa'Ser ~1IM G~ ~ ~'~e, y~rst,~q~.gC}1.~. ~~.ieuw •, ice' ~'*•. ~~tu'l:X~+1K. State of 1 as County of 1 On thin, the day of . 19 , he/arr mr. the undersigned oJ~cer, peraanallyoppeared knoum to me (or aatisjactorilr proven) to be the person tohou sabtcribed to the urithin instrument, and acknoerlcdged that he eaccuted the somejor the purpotra therein contained. !N WITNESS WHEREOF, !lwreunto set my hand and o)jeia! mot. ~~ -__._.__-.. _.. /rEAt~ 4~ BOOK jb'9 PACE ~Jr .--.. 7~llrr/Ojlrrr. j slu hnrlrr rrrtiji• fhrtt fhr prrri.se r.+idrnre anJ ramplrfr I,s,sf a//ire n•Gl.r.a sffhs•u•ifhinnnmrdFrnnfrrs i.s 1098 HarL13bU[J Piker Carllsler PA 17013 Decetrber ~R .+' r9 97 Atta.ney jar Grantees .. / wM -ds~ Zu L~ iu L ( ~ ~ w ~ ~ ~ ~ Q to A~ o~ ~~ ~ E~ z a COMMONWE TNO PENNSYLY,fNIA dl - ++. Ca 7 •~~.:~~~ . ,..... ~ ~ .ai'!~• RECORDED on ehi+...__ `~__.. day nj _ ~C . - _ --• '~'•i,~~~_~' • • y. ~U. 19~in the Reeorder'r o~ee ajlhe +aid County, in Ueed>3oaR .._:a~ ~.:..~... ,,. ~~,:. •;T:i,-;~-,`v,r~ iGjYen under my hood and the +ea! ajlhe raid tda -oboae rrirern. Recorder. 600K 1~ PACE ~~s CO', , ~ ~ < , .... ~ ..., . ~ , d' y a Q ~. ~, ~fi' ~ a ~ c, A _ . r- ~ O: ° a> > : u N J OQ ~ ^ H A. Fp s;2`: .~ ,. ., Q 1 '^ t; l' ~ ~.{ VW .~ fly 1~ 9 ,. Y '~ ~' J r / bt ~) ~v ~ 7..~e ~ , 0 < ~ r~ .~ I~~'~ ilk ~~~ ;:..~+! , V ,a:. ~ ~ ~;: ,i r C~ t . _ o - a V o Q .~ ~ a d ~ a ce !~ ~, •~ 'L C O ~. , Aa ~ ~ Y ~ ~ ctf p ~ '~.. ~ m ~ I ~r^ .Il r (~ vI [~ v~ .. ~ ~ ~ •y O \ ' G? .~ ++ .. ~ ~Lj~ ~ T., _ v`c: - ~... O ~ _ ~ u t.^., Z ~ a , . ~ ` ~ (j Ej <. ~ a 1- ~ v ~ c.,x: ~ ' ~ .t~: ~ o ,. .:~: .. v ~+~ }:: f~:;,. ~..sY:;~,..r,.:~:, Y~a<•~.:~?:~ M ~. } tom.: ~JV ~• ~ .,f,,• rte. : `..• •.. y'rxA,, . ••.'i :•' ~'2:r ~ ~. `far\uv \:'~4.': :.,t.~:' 'K.L iN:: v/n~j+j.' . n:. v~r•~ . t,v, :.. .. wY4 ~ ~ .,... _ •~t.Y s L'~'1• ~ ~iyci: g.: ~Ci%;;Y' ? ~ o- ttf, :' jrr .o ~ ' ~ _ . .~ . r• A N 4 f~. • y•... VJ.r~ M4 M: ~~]f :~ . C~ ~ .t.~:i:;..~+•~ L"'.:.t'..: ',:~, ~'~" iA{: .'"S ,~,~ tom: i ~~ ~~ ~!!,ll.~a1~ , r`` f \ t `~ }:F41.t ~}.r~: ~y1 rr :~ t ~^?•~ w'4': •.y3 N O.3 T1 F'rl .... .... .. a ..: ~ U ~ , ° O :':ka.~ .:a~. i')jw .. ' `~ ~ W .: q O Q. W .' 'o Q. ~ 4 ~ ,. Q (~ ; c ~ x~. •~w~: .4 ~tq's Q~ ~t~ A' W ~ G. f., •- W t: ~` '~: ~ Q ..:r r :d }I '" m = Q'';(,:'.. " s?tea.. ~ ~ ~;'" H~a W O u1.4 qtr` ,:'' ~: f '!x ,+';, S 3r ~. ~ f A LLl.~ ~~.:• of C. ~tdi~.' . 3sL ~ / ~y.. .;:;~ _. t . ass'. ,s,.. s, AL?:;.,.~• ~ st 4Y, CJ~ A.. La. ~i.. ;c n''`°j.r .. ...t•. :Co aS .. c1 Containing one hundred nineteen (119) acres and thirty-six (361 perches, excluding the School Hcuee Lot conveyed by Jacob Hoerner and wife to the School Directors of Middlesex Township dated the 7th day of March 1866 and recorded in Record Book S, vol. 2, Page 355, as by reference thereto will more fully at lacye appeac. BBIIiG the name premises which George W. McOoy, Widower, by his Deed dated March 24, 1941 end recorded in the Recorder's Office !n and for said Cumberland County in Deed Book "H", Val. 12, Page 404, granted and conveyed unto Wilbert F. Sunday and Metgaret A. Sunday, his wife. ®LCBPTING Atm RES8RV1IiG therefrom Lot No. 2 on Final Minor Subdivision Plan for The Palate of Margaret A. Sunday which Walter D. Sunday and Diane L. Beam, Exeeutora of the Last Will and Teetanent of Margaret A. Sunday, et al granted and conveyed unto Walter D. Sunday by Deed dated May 24, 1996. TRACT NO. 2 ALL TBAT CERTAlZi tract of land situate in Middlesex Township, Cumberland County, Pernsylvania, bounded and described as follows: BDGIIai>Z7G at a point in the center of the public read leading fr'an Hoerner'e School House to the Trindle Road; thence by the center of said public road, North 52 degrees East 435 feet to a point at lands of the Grantor herein: thence ty other lands of the Grantor herein, South 14 degrees East 1698 feet to a atone at lends of Lee Deitch; thence by lands now or late of Lee Deitch, North 74 degrees 30 minutes West 478.5 feet to a atone at lands of Lee Brenneman; thence by Lando now or formerly of Lee Brenneman. Nocth 5 degrees Weat 244.2 feet to a stone; thence still by lands now or late of Lee Brenneman, North 14 degrees West 1036 feet to the point in the center o! the public road, the place of e®GII1Zt27G. Containing 13.26 acres, more or less. BS1NG the same premises which Bertha M. Hull, Widow, by her Deed dated Apcil 13, 1950 and recorded in the Recorder's Office aforesaid in Deed Book "R", vol. 14, Page 3, granted and conveyed unto Wilbert F. Sunday and Margaret A. Sunday, his wife. TRACT N0. 3 ALL TEAT CERT]flti tract of land situate in Middlesex Township. Cumberland County, Pemaylvania, bounded and described as follows: B~iIT1G at a post by land formerly of Jacob Hoerner, now of the Grantor; thence by said land, South 9 degrees 15 minutes East 3 perches to a poet; thence ty the same, South 82 degrees 45 minutes Weat 4.9 perches to a post; thence ty the same, North 13 degceea west 3 perches to a post at the road; thence North 82 degrees 45 minutes East 5.1 perches to the Place of BMGQY~IG. ODNl'AINII~iG 14.9 perches, and being improved with a school building locally known as Hoerner School. BSIIY(' the same premixes which the School District of Middlesex Township by its Deed dated January 24, 1959 and recorded in the Recorder's Office in and for said Clxnberland County in Deed Hook "Y", Vol. 18, Page 90, granted and conveyed onto Wilbert F. Sunday and Margaret A. Sunday, his wife. The said Wilbert F. Sunday died January 21. 1981 whereupon title to the said three tracts of land vested solely in the said Margaret A. Sunday by virtue of the law of survivorship. soox iG9 raeE 7'73 YOUNG CONAWAY STARGATT & TAYLOR, LLP BEN T. CASTLE CRAIG D GREAR THE BRANDYWINE BUILDING RYAN M. BARTLEY KAREN E. KELLER SHELDONN. SANDLER TIMOTHY JAY HOUSEAL 17 R 1 OOO W S F DONALD J. BOWMAN, JR. JENNIFER M. KINKUS RICHARD A. LEVINE MARTIN S. LESSNER TREET, TH EST LOO MICHELE SHERRETTA BUDICAK SARA BETH A. R. KOHUT RICHARD A. ZAPPA PAULINE K. MORGAN WILMINGTON DELAWARE 19801 EMILY V. BURTON EVANGELOS KOSTOULAS RICHARD H. MORSE C. BARR FLINN , ERIKA R. CAESAR PILAR G KRAMAN DAVID C. MCBRIDE NATALIE WOLF JEFFREY T. CASTELLANO JOHN C KUFFEL JOSEPH M. NICHOLSON LISA B. GOODMAN P.O. Box 391 DOUGLAS T. COATS ANDREW A. LUNDGREN CRAIG A. KARSNITZ JOHN W. SHAW WILMINGTON DELAWARE 19899-0391 KARA HAMMOND COYLE JAIME N LUTON BARRY M. WII.LOUGHBY JAMES P. HUGHES, JR. , KRISTEN SALVATORE DEPALMA ANDREW L. MAGAZINER ANTHONY G. FLYNN EDWIN J. HARRON MARGARET M. DIBIANCA ADRIA B. MARTINELLI JEROME K. GROSSMAN MICHAEL R. NESTOR (302) 571-6600 JUSTIN P. DUDA (NY ONLY) KATHALEEN MCCORMICK EUGENE A. DIPRINZIO ROLBJ P. BISSELL /800 253 2234 /DE ONLY ( ) MARY F. DUGAN TAMMY L. MERCER JAMES L. PATTON, JR. SCOTT A. HOLT - \ ) ERIN EDWARDS MARIBETH L. MINIELLA ROBERT L. THOMAS JOHN T. DORSEY FAX: (302) 571-1253 KENNETH J. ENOS LAUREN E. MOAK WILLIAM D. JOHNSTON M. BLAKE CLEARY KERRIANNE MARIE FAY MICHAEL S. NEIBURG TIMOTHY J. SNYDER CHRISTIAN DOUGLAS WRIGHT MARIS FINNEGAN JENNIFER R. NOEL BRUCE L. SILVERSTEIN DANIELLE GIBBS 1 1 O WEST PINE STREET WILLIAM E. GAMGORT ROBERT F. POPPITI, JR WILLIAM W. BOWSER JOHN J. PASCHETTO Box 594 P.O MARGARET WHITEMAN GREECHER NICHOLAS J ROHRER LARRY J. TARABICOS RICHARD A. DILIBERTO, JR. NORMAN M. POWELL ELENA C. NORMAN . GEORGETOWN, DELAWARE 19947 SEAN T GREECHER MEGAN C. HANEY ANDREW E RUSSELL JUSTIN H RUCKI MELANIE K. SHARP EDMON L. MORTON (302) 856-3571 A DAVID HANSEN CHERYL A SANTANIELLO CASSANDRA F. ROBERTS JOHN E. TRACEY 2234 DE ON Y 8OO 255 STEPHANIE L. HANSEN MORGAN L. SEW ARD RICHARD J.A. POPPER ADAM W. POFF ( ) ) - L ( JAMES L. HIGGINS MONTE T SQUIRE TERESA A. CHEEK SEAN M. BEACH FAX: (302) 856-9338 LAUREN HUDECKI MICHAEL P. STAFFORD NEILLI MULLEN WALSH JOSEPH M. BARRY PATRICK A. JACKSON RICHARD J. THOMAS ROBERT S. BRADY SHARON M. ZIEG WWW.YOUNGCONAWAY.COM JAMES M. YOCH, JR. JOEL A. WAITS DAVID R. HURST SPECIAL COUNSEL BRENT C. SHAFFER TIMOTHY E. LENGKEEK DIRECT DIAL: (302) 571-670448 KAREN L. PASCALS SENIOR COUNSEL DAMEL P. JOHNSON MATTHEW B. LUNN DIRECT FAx: (302) 576-337376 CURTIS J. CROWTHER sfierstein@ycst.com OF COUNSEL BRUCE M. STARGATT STUART B. YOUNG EDWARDB. MAXWELL, 2ND 10SY W.INGERSOLL June 14, 2010 BY FEDERAL EXPRESS Cumberland County Register of Wills 1 Courthouse Square ~~_- Room 102 ~~ ~ - ~-~ Carlisle, PA 17013 ~~~~~~ - ' ~~ ~~ ':_ ~~~ rv Re: Estate of Clyde O. Beam ~~~ ~~~ r ` , _' File Number: 2009-0974 ,~ ~ - .b ~ ~ Dear Sir or Madam: ~~~ ` .' 3 ~--^ Enclosed for filing are two copies of the Pennsylvania Inheritance Tax Return and one copy of the Inventory for the Estate of Clyde O. Beam who died on September 27, 2009. I would appreciate if you would please date stamp the enclosed additional copies and return them to me in the enclosed self-addressed, postage paid, envelope. I also enclose a check for $30.00 for filing fees ($15.00 for Inventory and $15.00 for PA Inheritance Tax Return -Rev-1500). Please do not hesitate to contact us with any questions. Sincerely, Q:,C~~ Karen J. Kreyling Estate and Trust Paralegal KKREY: hs Enclosures YCST01:9795109.1 036435.1001 ~~~, {~ Cry F/4 t` `/~ Q ~' !nr ~' ~.~ r•... ~ a ~ ~r.~ b ~, L1"~ ~- ~. 4.. ~' ~ ~' +~ ^ ~,~ +~' ~ ^ e -~ ~ai~ ~ ~- 1 ' ` ~ ~~ ,~' tr ~~,~ ~ ~, ° ~ ~ ~ ,. k,t t\ y ~n~N"~7 .}.. 1 .~ ,~ ~~ ~ ~ t _r ~~ ~_:.., .~~~;ra. • ~~ ~{ a ~ ~ ~ O r Appo ~ ~ ~ Ao ~ ~ ~ ~ ~~ rn ~ dw ~; ~ x~ ~, W ~ a ~ `~ M o w p ~ ~ ` W O l .~' , ~ . c n ~ ~ ~' a O ~ c~J' ~ N W 'r ~ w ~ N ~ , ~ O ~. 3d ~ o ~ ~ ~ ~' ~ O~`~'-~ '~ ~ o o ~ 3 ~ o w ~ , ~~ ~ V ~~ ~ 0