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HomeMy WebLinkAbout07-16-10REV-1500 EX (06-05) PA Department of Revenue Bureau of Individual Taxes PO Box 280601 Harrisburg, PA 17128-0601 OFFICIAL USE ONLI' County Code Year File Number INHERITANCE TAX RETURN 2 ~ ~~ ~) ~d ~ ~ RESIDENT DECEDENT ],5056D41,],69 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death 166-52-5379 03012009 Decedent's Last Name FEALTMAN (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Spouse's Social Security Number FILL INAPPROPRIATE BOXES BELOW 1. Original Return 4. Limited Estate 6. Decedent Died Testate (Attach Copy of Will) 9. Litigation Proceeds Received Date of Birth 12281954 Suffix Decedent's First Name DOLORES Suffix Spouse's First Name THIS RETURN MUST BE FILED IN DUPLICATE WITH T'HE REGISTER OF WILLS 2. Supplemental Return 4a. Future Interest Compromise (date of death after 12-12-82) 7. Decedent Maintained a Living Trust (Attach Copy of Trust) 10. Spousal Poverty Credit (date of death between 12-31-91 and 1-1-95) MI A MI 3. Remainder Return (date of death prior to 12-13-82} 5. Federal Estate Tax Return Required 8. Total Number of Safe Deposit Boxes 11. Election to tax under Sec. 9113(A) (Attach Sch. O) CORRESPONDENT - THiS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO~,„a Name Daytime Telep~ne Number`'--' Q ~'.'. ~. MELANIE L. SMITH ~ ~ t ... ~' ~ r t~`t Firm Name (If Applicable) REGISTEq.LS USEONLYrl-:--, r~'~j ` t ~,~y ,~ ~~) ~`~ 4,~ ~ Y 'r~ First line of address .~.. : -' ` ' ~~ L~ '~ "'~ ~~ ~ -~' r ~Y~ 5510 SILVER CREEK DRIVE j ~~~ ~ ~t:~' ~' W :~' ' Second line of address t City or Post Office State ZIP Code MECHANICSBURG PA 17050 DATE FILED Correspondent's a-mail address: j ~ K~-Ci"~ ~"'~ Ir!'~ ~~:~ ~--~ (~ L"" '~"' z> . C_ ~'%YY~ _ 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 preparer has any knowledge. SIGNAT RE OF P RSON SPO ISI FOR FI NG RETURN ~' ~E~`°' ~ l O /. ADDRESS 5510 SILVER CRE K DRIVE, MECHANICSBURG, PA 17050 SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE ADDRESS PLEASE USE ORIGINAL FORM ONLY Side 1 15056041169 1,5D560411,69 J ~` J 15056042160 REV-1500 EX Decedent's Social Security Number Decedent's Name: DOLORES A FEALTMAN 16 6- 5 2- 5 3 7 9 RECAPITULATION 57,000.00 1. Real estate (Schedule A) .......................................... ... 1. 0 2. Stocks and Bonds (Schedule B) ..................................... ... 2. 0 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) .. ... 3. 0 4. Mortgages & Notes Receivable (Schedule D) ......................... .... 4. 617.7 9 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) .... .... 5. 6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ... .... 6. 0 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property 0 (Schedule G) ^ Separate Billing Requested ... .... 7. 5 7 , 617.7 9 8. .................. Total Gross Assets (total Lines 1 - 7) ............. .... 8. 6 , 415.0 8 9. Funeral Expenses & Administrative Costs (Schedule H) ................. .... g. 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) ............ ... 10. 1 , 5 4 9 . 8 2 11 7 , 9 6 4 . 9 0 11. ............................... Total Deductions (total Lines 9 8~ 10) ... . 12. Net Value of Estate (Line 8 minus Line 11) ........................... ... 12. 4 9 , 6 5 2 . 8 9 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which 0 an election to tax has not been made (Schedule J) ..................... ... 13. 4 9 , 6 5 2 . 8 9 14. Net Value Subject to Tax (Line 12 minus Line 13) ..................... ... 14. TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 0 (a)(1.2) x .0 15. 16. Amount of Line 14 taxable 4 9, 6 5 2. 8 9 16 2, 2 3 4. 3 8 at lineal rate x .04 5 . 17 . Amount of Line 14 taxable 0 at sibling rate x .12 17. 18 . Amount of Line 14 taxable 0 at collateral rate x .15 18. 19 . TAX DUE ..................................................... ... 19. 2, 234.38 20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT ^ Side 2 15056042160 15056042160 REV-1500 EX Page 3 1'lei•erlon•~~ ~'_nrr~n~nfn ~f"~~1'ACC' File Number 21-10 - 0 () 8 0 DECEDENT'S NAME Dolores A Fealtman STREETADDRESS 12 Railroad Avenue _ CITY STATE ZIP Summerdale PA 17025 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. GreditslPayments A. Spousal Poverty Credit B. Prior Payments C. Discount 3. Interest/Penalty if applicable D. {nterest E. Penalty 2,234.38 Total Credits (A + B + C) (2) Total Interest/Penalty (D + E) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in box on Page 2, Line 20 to request a refund. (4) 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) A. Enter the interest on the tax due. (5A) B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (56) 0.00 0.00 2,234.38 50.00 2,284.38 Make Check Payable fo: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1, Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred : ........................................ .. ^ b. retain the right to designate who shall use the property transferred or its income : .................. . . ^ ~] c. retain a reversionary interest; or ....................................................... .. ^ d. receive the promise for life of either payments, benefits or care? .............................. .. ^ 2. If death occurred after December 12,1982, did decedent transfer property within one year of death without receiving adequate consideration? . ................................................. .. ^ 3. Did decedent own an "intrust for" or payable upon death bank account or security at his or her death? ... .. ^ 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ........................................................ .. ^ 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)j. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. §9116(a)(1.1)(ii}]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5} percent, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1502 EX+ (11-08) ~ pennsylvania SCHEDULE A DEPARTMENT OF REVENUE INHERITANCE TAX RETURN REAL E STAT E RESIDENT DECEDENT ESTATE OF FILE NUMBER Dolores A. Fealtman 21-10-008.0 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at wnicn property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real orooertv that is iointly-owned with right of survivorship must be disclosed on Schedule F. If more space is needed, insert additional sheets of the same size. REV-1508 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF FILE NUMBER Dolores A. Fealtman 21-10-0080 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. (If more space is needed, insert additional sheets of the same size) REV-1511 EX+ (10-06} COMMONWEALTH OF PENNSYLVANIA i INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER Dolores A. Fealtman 21-10-0080 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: ~ Sullivan Funeral Home 3,200.00 2 Flowers 575.00 3 Funeral Luncheon 500.00 B. 1 ADMINISTRATIVE COSTS: Personal Representative's Commissions Name of Personal Representative(s) Street Address City Year(s) Commission Paid: State Z1P 2. I Attorney Fees 3 Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) I Claimant Street Address a. 5. 6. ~. 8 9 10 City State J Relationship of Claimant to Decedent Probate Fees Accountant's Fees Tax Return Preparer's Fees Michael Hennigan-Real Estate Appraisal PPL East Pennsboro-Sewer/Trash East Pennsboro-Real Estate Taxes ZIP 184.50 325.00 341.20 368.00 921.38 TOTAL (Also enter on line 9, Recapitulation) $ 6 , 415.0 8 (If more space is needed, insert additional sheets of the same size) REV-1512 EX+ (12-08) ~ pennsylvania SCHEDULE I DEPARTMENT OF REVENUE DEBTS OF DECEDENT, INHERITANCE TAX RETURN MORTGAGE LIABILITIES & LIENS RESIDENT DECEDENT ESTATE OF FILE NUMBER Dolores A. Fealtman 21-10-0080 Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses, If more space is needed, insert additional sheets of the same size. REV-1513 EX+ (11-08) ~ pennsylvania SCHEDULE J DEPARTMENT OF REVENUE INHERITANCE TAX RETURN BENEFICIARIES RESIDENT DECEDENT ESTATE OF Dolores A. Fealtman FILE NUMIBER 21-10-OC)80 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [Include outright spousal distributions and transfers under Sec. 9116 (a) (1,2).] 1. Melanie L. Smith daughter 500 of residue 5510 Silver Creek Dr. Mechanicsburg, PA 17050 2. Regina A. Smith daughter 500 of residue 123 Walnut Drive Scotdepot, WVA ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUG H 18 OF REV-1500 COVER SHEET, A S APPROPRIATE, II NON-TAXABLE DISTRIBUTIONS; A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN 1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1. TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET, $ 0 If more space is needed, insert additional sheets of the same size. APPRAISAL REPORT of Single Family Residence at 12 Railroad Avenue Summerdale, PA 17093 As Of: March 19, 2009 Prepared For: Estate of Dolores A. Fealtman 12 Railroad Avenue Summerdale, PA 17093 Prepared By: Michael Hennigan Michael Hennigan Appraisals 400 Beacon Hill Rd New Cumberland, PA 17070 Michael Hennigan Appraisals File No. S903204 Case No. Uniform Residential Appraisal Report The ur ose of this summa a raisal re rt is to rovide the lender/client with an accurate, and ade uatel su rted, o inion of the market value of the sutgect property. Pro rt Address 12 Railroad Avenue Cit Summerdale State PA Zi Code 17093 Borrower Estate of Dolores A. Fealtman Owner of Public Record Fealtman Coun Cumberland L al Descri lion Deed Book 260; Pa a 3,019 Assessor's Parcel# 09-11-3004-034 Tax Year 2009 R.E. Taxes $ 1,040.00 Nei hborhood Name East Pennsboro Townshi Ma Reference ADC's 2 B-10 Census Tract 3240-102 _ Occu ant Owner Tenant X Vacant S aal Assessments $ None Known PUD HOA $ N/A r E:ar ermonth Pro rt Ri hts A raised X Fee Sim le Leasehold Other describe N/A Assi nmentT Purchase Transaction Refinance Transaction X Other describe Settle Estate Lender/Client Estate of Dolores A. Fealtman Address 12 Railroad Avenue; Summerdale, PA 17093 Is the subject ro ert currentf offered for sale or has it been offered for sale in the twelve months rior to the effective date of this a raisal? Yes X No Re ort data sources used, offerin s rice s ,and dates . Multi-listin Services I X did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why thE: analysis was not erformed. N/A Contract Pace $ N!A Date of Contract NIA Is the ro ert sel{er the owner of ublic record? Yes No Data Sources Public Records Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes X No If Yes, re rt the total dollar amount and describe the items to be aid. N/A ~ ., -- -- - ----- -------..__ -s.~- --.-.~~,.-~..,,a .......,.~ .,.......~~~ ~.,.-~...~ ---Fr"~ Location tgkl)orhoocfGharatteristcs ~~- _One-Urti~HousingTrends Urban X Suburban Rural Pro Values Increasin X Stable Declinin One-lfnitHousing=:` PRICE AGE Present LandUse% One-Unit 65 °~ Built-U Over 75% X 25-75°A Under 25% DemandlSu I Shorta e X in Balance Over 5u $ 000 rs 2-4 Uriit % s Growth Ra id X Stable Slow Marketi Time Under3mths X 3$mths Over6mths 49 Low New Multi-F'amil °~ Nei hborhood Boundaries The sub'ect ro ert is bounded to the North b the Per Coun border; Rt. 125 Hi h 100+ Commercial °b + 944 to the South the Susquehanna River to the East and lower Road to the West. 60 Pred. 75+ Other Land 35 °k ~~ Nei hborhood Descri lion This suburban nei hborhood has ublic utilities relative) eas access to em to ment and services and is com etitive with other nei hborhoods in the eneral area. Most have similar amenities. Market activit indicates avera a or better acre lance in the market place. No unfavorable factors were observed which would adverse) affect marketabili Market Conditions inciudin su ort for the above conclusions There are no foreseeable economic trends which mi ht si nificantl influence market conditions in this area. The current mort a e market offers a wide variet of conventional loans with com etitive interest rates. As a result the terms of financing have little, if an , im act on sale vices. If interest rates remain reasonable, ro values and marketabili should be stable. Dimensions 83.96' x 112.58' x 112.35' x 150.56' Area .17 Acres Sha Rectan ular View Residential S cific Zonin Gassification Residential Zonin Descri lion Residential Zonin Com liance X L al Le al Nonconformin Grandfathered Use No Zonin III al describe N/A Is the hi hest and best use of subject ro rt as im roved or as ro sed r tans ands ifications the resent use? X Yes No If No, describe. N/A Utilities Public Other describe Public Other describe Off-site Im rovements-T a Public Private Electricit X Water X Well Street Macadam ~~ Gas X Sanita Sewer X Alle None FEMA S ecial Flood Hazard Area Yes X No FEMA Flood Zone C FEMA Ma # 420359B FEMA Ma Date 04/15/77 Are the utilities and/or off-site im rovements t ical for the market area? X Yes No If No, describe. N/A Are there an adverse site conditions or external factors easements, encroachments, environmental conditions, land uses, etc. ? Yes X No If Yes, describe. There are no a arent easements or encroachments. The sub~ect does not a ear to lie in a FEMA flood area. 'Genera} Desp~tian Foundation Exterior t}e>~cription materials/COnditfori Interior m~ereafslconditiort, Units X One One with Accesso Unit X Concrete Slab Crawl S ace Foundation Walls Concrete 81k/Avera a Floors Cr t/Vinyl/Aver # of Stories 1 X Full Basement Padial Basement Exterior Walls Stone/Vin 1/Avera a Walls D a11JAver T X Det. Att. S-Del./End Unit Basement Area N/A s . ft. Roof Surface Com Shn lelAvera e Trim/Finish Wood/Average X Existin Pro sed Under Const. Basement Finish N/A % Gutters & Downs uts Aluminum/Avera Bath Floor Slate/Aver Des' n St le Ranch N Outside Ent /Exit N Sum Pum Window T e Double Hun /Avera a Bath Wainscot Fiberglass/Aver Year Built 1957 Evidence of N Infestation Storm Sash/Insulated Both/Avera a Car Stor None Effective A e Yrs 30 N Dam Hess N Settlement Screens Yes/Avera e X Drivewa # of Cars 4 Attic X None Hearin X FWA HWB Radiant Amenities Woodstove s # Drivewa Surface Stone Dro Stair Stairs Other Fuel Gas Fire laces # Fence X Gara e # of Cars 2 Floor Scuttle Coolin X Central Air Conditionin X PatiolDeck X Porch Ca rt # of Cars Finished Heated Individual Other Pool Other Att. Det. X Built-in A liances X Refri erator X Ran a/Oven Dishwasher Dis sal Microwav Washer/D er Other describe ~~ Finished area above rade contains: 5 Rooms 2 Bedrooms 1.00 Baths 532 S uare Feet of Gross Livin Area Above Grade Additional features s ial ener efficient items, etc. Storm windows and doors. s _ Describe the cond+tion of the ro ert includin needed re airs, deterioration renovations remodelin ,etc.. The sub~ect is in avera a condition on both the interior and exterior. The subiect has a standard floor plan and amenities. No evidence of functional or economic obsolescence was obseitied. Are there an h sical deficiencies or adverse conditions that affect the tivabilit ,soundness, or structural inte ri of the ro ert ? Yes X No If Yes, describe N/A - Does the ro ert enerall conform to the nei hborhood functional utilit , st le, condition, use, construction, etc. ? X Yes No If No, describe N!A Freddie Mac Form 70 March 2005 Fannie Mae Form 1(104 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page t of 15 Michael Hennigan Appraisals Uniform Residential A There are 3 coinparable properties currently offered for sale in the subject neighb There are 10 com arable sales in the sub ject nei hborhood within the ast twelve FEATURE SUBJECT COMPARABLE SALE # 1 Address 12 Railroad Avenue Summerdale, PA 17093 409 Mountain Street Summerdale, PA 17093 Proximit to Sub'ect 0.20 miles SW Sale Price __ _ _ $ N!A $ 46,863 _ Sale PricelGross Liv. Area $ 0.00 s . ft. $ 53.56 s . ft. Data Source{s) Exterior Ins ection Verification Sources _ Public Records VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +- $ Ad'ustmen Sale or Financing j NIA Unknown Concessions N!A Unknown Date of Sale/Time __ _ _ __ NIA 213/09 Location __ _ Suburban Suburban LeaseholdlFeeSim le Fee Sim le Fee Sim le Site .17 Acres .17 Acres View Residential Residential Desi n S le Ranch Ranch Qualit of Construction Stone/Vin I Aluminum Actual A e 52 66 ~d ranging in price from $ E hs ranging in sale price from $ COMPARABLE SALE # 2 204 Valley Street _Summerdale, PA 17093 0.47 miles S $ 61,500 88.36 sq. ft CPML # 10163074 Public Records DESCRIPTION +- $ Ad'usti Conv 2 DOM None Known 5/21 /08 Suburban Fee Sim le .17 Acres Residential Ranch Aluminum File No. S903204 Case No. 900 to $ 132,900 46,863 to $ 124,900 COMPARABLE ;ALE # 3 310 Fifth Street Summerdale, PA 17093 0.41 miles S - $ _ 69, 900 _ I ~ 87.38 :g_ ft. - CPML # 10155224 Public Records nt DESCRIPTION +- $ Ad'ustmen Conv 128 DOM None Known 3/25!08 Suburban Fee Sim le .19 Acres Residential Ranch Frame Condition Avera a Avera a Avera a Avera e Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Room Count 5 2 1.00 4 1 1.00 5 2 1.00 3 1 1.00 'Gross Livin Area 532 s , ft 875 s . ft. -3,43 696 s . ft. -1,64 800 s . ft. -2 Basement& Finished ;Rooms Below Grade None N/A Partial Bsmt Unfinished -1,50 Partial Bsmt Unfinished -1,50 Partial Bsmt Unfinished -1 ~.--- ~ Functional Utili Avera a Avera a Avera a Avera e ~Heatin Coolin FWA/CtrlAir BBD/None +1,50 FWA/None +1,50 BBD/None +1 Ener Efficient Items Storm Windows Storm Windows Storm Windows Storm Windows Gara elCa rt Offstreet Offstreet Offstreet Offstreet PorchlPatiolDeck Porch/Patio Porch/Patio Porch/Patio Porch/Patio NetAd'ustment otal ~ + X - $ -3,430 + X - $ -1,640 X - $ -2,680 Adjusted Sale Price Net Adj: -7% Net Adj: -3% Net Adj: -4% of Com arables Gross Adj : 14% $ 43,433 Gross Adj: 8% $ 59,860 Gross Adj: 8% $ 67,220 I X did did not research the sale or transfer histo of the subject ro rt and com arable sales. If not, ex lain There were no other sales for the subject nor the comparable properties other than as indicated below. My research did X did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data sources Tax Assessment Office My research did X did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data source(s) Tax Assessment Office Re ort the results of the research and anal sis of the riot sale or transfer histo of the subject ro ert and com arable sales re rt additional nor sales on a e 3 . ITEM SUBJECT COMPAFL48LE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Date of Prior SalelTransfer No Sales in the No other sales in the No other sales in the No other sales in the Price of Prior Saleffransfer Prior 3 ears Prior ear Prior ear Prior year Data Sources Public Records Public Records Public Records Public F2ecords Effective Date of Data Sources 3/23/09 3/23/09 3/23/09 3/23109 Anal sis of riot sale or transfer histo of the subject roe and com arable sales There were no other sales for the subject nor the com arable roperties other ;than as indicated above. Summary of Sales Comparison Approach All sales are closed transactions. All sales are considered average indicators of value and weighted a uall in the ;:.:;final reconciliation Due to the limited number of similar sales in the subject neighborhood comps were selected from a wider range andl'or older than ideal. The comps used are considered the most similar overall including style, quality, market appeal, etc. and they are considered the best available from all sources including MLS and STEB Reports. - __ Indicated Value by Sales Comparison Approach $ 57 000 Indicated Value b :Sales Com arison A roach $ 57,000 Cost A roach if Bevel ed $ N/A Income A roach if develo ed ;6 N/A The market a roach is the best a roach for this t e of roe and the one for which the most reliable data is available. The costa roach is 4 not a livable due to the a e of the sub'ect roe The income a roach is not a livable since the t ical urchaser is more interested in the amenities the ro ert contains than the income it ma roduce. This appraisal is made X "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been ° completed, [~ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or ~} .subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: _ i fr Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is $ 57 000 as of March 19 2009 which is the date of inspection and the effective date of this appraisal. _ _ _ Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page 2 of 15 Michael Hennigan Appraisals Uniform Residential Annraisa! Reuort File No. S903204 Case No. AMENDMENT TO SCOPE OF WORK -The intended users of this re ort are the lender/client onl and not for an others. The say a of work to com lete this re ort used the sales com arison to determine fair market value. The re lacement cost is used onl on new construction and the income a roach used onl when the sub~ect is to be a sin le famil rental ro ert . 4 < ~~ 5, ~ .~ CC~~7 APPi2~ACki TC} VALUE tzQt re uq fired b}~Fatfke`Ma.e.~ Provide ad uate information for the tenderlclient to re ticate our cost fi ures and calculations. Su ort for the o inion of site value summa of com arable land sales or other methods for esiimatin site value The site value was based on the land assessed !kry value from the Tax Assessment Office. ~' ESTIMATED REPRODUCTION OR X REPLACEMENT COST NEW OPINION OF SITE VALUE _$ 33,490 Source of cost data Marshall & Swift Residential Cost Handbook Dwellin 532 S . Ft. $ 69.21 =$ 36,820 Quali ratio from cost service Aver Effective date of cost data 3/21 /09 Bsmt S . Ft. $ _$ _ 0 Comments on Cost A roach ross livin area calculations, de reciation, etc. Built-ins; Porch 1,500 SEE ATTACHED SKETCH Gara elCa rt 560 S . Ft. $ _$ 0 ~ Total Estimate of Cost-new =$ 38,320 The Marshall & Swift Cost Handbook was used as an aid in com utin Less Physical 43 Functional External >e the costa roach utilizin "avers e" ualit . Due to the a e of the De reciation 16,478 0 0 =$ 16,478 sub~ect, the costa roach is not an accurate indication of value and De reciated Costof Im rovements =$ 21,842 3 therefore is not ertinent to this a raisal re ort. "As-is"Value of Site Im rovements =$ 2,500 "` Estimated Remainin Economic Life HUD and VA onl 40 Years Indicated Value B Cost A roach =$ 57, 832 INCOME APPRQACH TO VALUE (not required by Fannie Mae.) _ _ ~ .. ~ ~- - - Estimated Monthly Market Rent $ N/A X Gross Multiplier N/A =$ 0 Indicated Value by Income Approach _ ~~ Summa of Income A roach includin su ort for market rent and GRM N/A _ °_>' PROJECT {NFORMATtON FOR': PltEls if a iicabte} - _ _ _ Is the develo er/builder in control of the Homeowner's Association HOA ? Yes No Unit s Detached Attached _ _ Provide the fotlowin information for PUDs ONLY if the develo r/builder is in control of the HOA and the sub'ect roe is an attached dwellin unit. _ Le al Name of Pro'ect N/A Total number of hases Total number of units Total number of units sold _ Total number of units rented Total number of units for sale Data sources N!A Was the ro ect created b the conversion of existin buildin (s) into a PUD? Yes No If Yes, date of conversion. N/A _ Does the ro ect contain an mufti-dwellin units? Yes No Data source. N/A _ ~~ Are the units, common elements, and recreation facilities com lete? Yes No If No, describe the status of com letion. N/A _ Are the common elements leased to orb the Homeowners Association? Yes No If Yes, describe the rental terms and o tions. NIA Describe common elements and recreational facilities. N/A Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page 3 of 15 Michael Hennigan Appraisals SUBJECT PHOTO ADDENDUM File No. S903204 Case No. Borrower Estate of Dolores A. Fealtman Nroperty Address 12 Railroad Avenue City Summerdale County Cumberland State PA Zip Code 17093 Lender/Client Estate of Dolores A. Fealtman Address 12 Railroad Avenue; Summerdale, PA 17093 FRONT OF SUBJECT PROPERTY 12 Railroad Avenue Summerdale, PA 17093 REAR OF SUBJECT PROPERTY STREET SCENE Page 4 ~~f 15 ~.ii~rtrvr[iviJ /-~Ppralsal JOTTWare tSUU-bZ1-E3/Z7 Michael Hennigan Appraisals SKETCH ADDENDUM File No. S903204 Case No. Borrower Estate of Dolores A. Fealtman Property Address 12 Railroad Avenue City Summerdale County Cumberland State PA Zip Code 17093 Lender/Client Estate of Dolores A. Fealtman Address 12 Railroad Avenue; Summerdale, PA 17093 _ _ 24' Kitchen Bath Bedroom 20' 24' Living Room 11' Bedroom 4' 13' SKETCH CALCULATIONS Perimeter Area Living Area First Fbor 532.0 Total Living Area 532.0 ClickFORMS Appraisal Software 800-622-8727 Page 5 of 15 Michael Hennigan Appraisals COMPARABLES 1-2-3 File No. S903204 Case No. Borrower Estate of Dolores A. Fealtman Property Address 12 Railroad Avenue City Summerdale County Cumberland State PA Zip Code 17093 Lender/Client Estate of Dolores A. Fealtman Address 12 Railroad Avenue; Summerdale, PA 17093 COMPARABLE SALE # 1 409 Mountain Street Summerdale, PA 17093 x d .` ~ ~ ~~` ., f3. ~ 5F~' ~ ~+ x P ,h> T .. ,Lw 7K' 1~ ~ t~: f14~e ~'~ 5'~8 ,. „~ yx >,~ ~, _ Sly. `~ ` ~ , A ~~ _ I ~,~ f kz.. ~I 4 &l ~ ~~ fi lAge~.-. ~ ~ANv. ` c x h ` ~ ~ ~ o{ ~~' ; ~ ~ ma ~ Y • .9y,~~~j ' s't r . ~ .lY, ~} ~ y` ~ "~~ ~ Y .y`. `~1'~fYY'v ` ~~ -~~ ~ ~ncKrUKMS Appraisal Software 800-622-872 COMPARABLE SALE # 2 204 Valley Street Summerdale, PA 17093 COMPARABLE SALE # 3 310 Fifth Street Summerdale, PA 17093 Page 6 of 15 Michael Hennigan Appraisals LOCATION MAP ADDENDUM File No. S903204 Case No. Borrower Estate of Dolores A. Fealtman Property Address 12 Railroad Avenue City Summerdale County Cumberland State PA Zip Code 17093 Lender/Client Estate of Dolores A. Fealtman Address 12 Railroad Avenue; Summerdale, PA 17093 "` ~ j ~ ~C"~~#~''1~11It~ 4 , y f ~tl"y M~#~~'ti~ ~t!'t~~@Y'~i ~.IfrRw P~rrk '~ ~ ~ ,, .' ,, ~ ~~~. ~, ~. I ~ ~. ~~ ~,, ~ .. F~ ~i'4t ~i ~t A.~i-ii' N '1 A ~ ~ ~~ ~ ~ ~' ~~ Y ,, } e ,. 4b ,.. . « ~ <~` " S ~~ ' t ,q~^w ,. .~ °r' 3 ~ ~ 7 ~ .m ~ ~} .r- it ~~ ~_(~ ~ ~}~ C`r i 1 ~'' (rj ~' ~ "~ ~ . _~- ~~' ~; ~lTrTa-t'iQCdd~ ~ ~~ ~ a ~ C?r ~ ~~~ ~ ~''~ ,~~~ Narr.bur~ G, ~ ~ ~~~ ~~ ~ ~;~ 15 '~ ~~~ ~ti .,~,7 o~ ;.11 ; ~J ;..; i '~,. ``.~.<. i k4~ '~~ i ' ' ' ~~r~..t. ~~t$ ~~. ~ -' ~ . z ~ ~~~ UI ~~rt~ta :r ~'~: . U4~fiti~;m>a~tG,~rp~+s2t34~sl/AVTfl~;3n~iforTt}t4~a~,kr~. '" ClickFORMS Appraisal Software 800-622-8727 Page 7 of 15 Michael Hennigan Appraisals File No. S903204 Uniform Residential Appraisal Report Case No. This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions" granted by anyone associated with the sale. 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or taw in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. ~ Icuulc IVIdV x41111 /U IVI dI GII LUV."1 Fannie Mae Form 1004 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page 8 of 15 Michael Hennigan Appraisals File No. S903204 Uniform Residential Appraisal Report Case No APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the Livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the safes comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sate for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. 1 researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. - 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is locateci. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the: subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. 1 did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment andlor compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or othennrise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisa4 report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and {will take no responsibility for it. 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page 9 of 15 Michael Hennigan Appraisals File No, S903204 Case No. Uniform Residential Appraisal 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as pairt of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. {accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either asub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable ands valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signat a 1~ -f5ignature Name ichael Henni an Name Company Name Michael Hennig Appraisals Company Name Company Address 400 Beacon Hill Rd Company Address New Cumberland, PA 17070 Telephone Number~l7} 774-8766 Telephone Number Email Address Mhenni1407@aol.com Email Address Date of Signature and Report March 24, 2009 Date of Signature Effective Date of Appraisal March 19, 2009 State Certification # State Certification # RL-002010-L or State License # or State License # PA Cert Res R/E Appraiser State or Other (describe) State # PA Expiration Date of Certification or License State PA Expiration Date of Certification or License 6130/09 ADDRESS OF PROPERTY APPRAISED 12 Railroad Avenue Summerdale. PA 17093 APPRAISED VALUE OF SUBJECT PROPERTY $ 57,000 LENDER/CLIENT Name Company Name Estate of Dolores A. Fealtman Company Address 12 Railroad Avenue Email Address Summerdale, PA 17093 SUBJECT PROPERTY Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection ~X Did inspect interior and exterior of subject property Date of Inspection March 19, 2009 COMPARABLE SALES Did not inspect exterior of comparable sales frorn st OX Did inspect exterior of comparable sales from sheet Date of Inspection March 19, 2009 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page 10 of 15 Michael Hennigan Appraisals File No. S903204 ENVIRONMENTAL ADDENDUM Case No. Borrower Estate of Dolores A. Fealtman Property Address 12 Railroad Avenue City Summerdale PnflPf FCta}P of Ilnlnre~ A Fealtman County Cumberland State PA Zip Code Address 12 Railroad Avenue: Summerdale. PA 17093 17093 APPARENT* HAZARDOUS SUBSTANCES AND/OR DETRIMENTAL ENVIRONMENTAL CONDITIONS APPARENT is defined as that which is visible obvious evident or manifest to the a raiser. This universal Environmental Addendum is for use with any real estate appraisal. Only the statements which have been checked by the appraiser apply to the property being appraised. This addendum reports the results of the appraiser's routine inspection of and inquiries about the subject property and its surrounding area. It also states what assumptions were made about the existence (or nonexistence) of any hazardous substances and/or detrimental environmental conditions. THE APPRAISER lS NOT AN ENVIRONMENTAL INSPECTOR and therefor might be unaware of existing hazardous substances and/or detrimental environmental conditions which may have a negative effect on the safety and value of the property. It is possible that tests and inspections made by a qualiled environmental inspector would reveal the existence of hazardous materials and/or detrimental environmental conditions on or around the pro eriy that would ne ativel affect its safety and value. •- 0 Drinking Water is supplied to the subject from a municipal water supply which is considered safe. However the only way to be absolutely certain that the water meets published standards is to have it tested at all discharge points. [~X Drinking Water is supplied by a well or other non-municipal source. It is recommended that tests be made to be certain that the property is supplied with adequate pure water. 0 Lead can get into drinking water from its source, the pipes, at all discharge points, plumbing fixtures and/or appliances. The only way to be certain that water does not contain an unacceptable lead level is to have it tested at all discharge points. [~X The value estimated in this appraisal is based on the assumption that there is an adequate supply of safe, lead-free Drinking Water. Comments w4, ~ » Sanitary Waste is removed from the property by a municipal sewer system. Sanitary Waste is disposed of by a septic system or other sanitary on-site waste disposal system. The only way to determine that the disposal system is adequate and in good working condition is to have it inspected by a qualified inspector. ~X The value estimated in this appraisal is based on the assumption that the Sanitary Waste is disposed of by a municipal sewer or an adequate properly permitted alternate treatment system in good condition. Comments ~~ ~ ~X There are no apparent signs of Soil Contaminants on or near the the subject property (except as reported in Comments below). It is possible that research, inspection and testing by a qualified environmental inspector would reveal existing and/or potential hazardous substances and/or detrimental environmental conditions on or around the property that would negatively affect its safety and value. 0 The value estimated in this appraisal is based on the assumption that the subject property is free of Soil Contaminants. Comments s• 0 All or part of the improvements were constructed before 1979 when Asbestos was a common building material. The only way to be certain that the property is free of friable and non-friable Asbestos is to have it inspected and tested by a qualified asbestos inspector. ~] The improvements were constructed after 1979. No apparent friable Asbestos was observed (except as reported in Comments below). 0 The value estimated in this appraisal is based on the assumption that there in no uncontained friable Asbestos or other hazardous Asbestos material on the property. Comments •~ s- tr There were no apparent leaking fluorescent fight ballasts, capacitors or transformers anywhere on or nearby the property (except as reported in Comments below). 0 There was no apparent visible or documented evidence known to the appraiser of soil or groundwater contamination from PCBs anywhere on the property (except as reported in Comments below). ~X The value estimated in this appraisal is based on the assumption that there are no uncontained PCBs on or nearby the property. Comments __ -M .v The appraiser is not aware of any Radon tests made on the subject property within the past 12 months (except as reported in Comments below). The appraiser is not aware of any indication that the local water supplies have been found to have elevated levels of Radon or Radium. 0 The appraiser is not aware of any nearby properties (except as reported in Comments below) that were or currently are used for uranium, thorium or radium extraction or phosphate processing. 0 The value estimated in this appraisal is based on the assumption that the Radon level is at or below EPA recommended levels Comments ClickFORMS Appraisal Software 800-622-8727 Environmental Addendum Page t ore Page 11 of 15 File No. S903204 raCA Nn s -s . a- ; [X There is no apparent visible or documented evidence known to the appraiser of any USTs on the property nor any know historical use of the property that would likely have had USTs. There are no apparent petroleum storage and/or delivery facilities {including gasoline stations or chemical manufacturing plants) located on adjacent properties (except as reported in Comments below). There are apparent signs of USTs existing now or in the past on the subject property. It is recommended that are inspection by a qualified UST inspector be obtained to determine the location of any USTs together with their condition an proper registration if they are active, and if they are inactive, to determine whether they were deactivated in accordance with sound industry practices. 0 The value estimated in this appraisal is based on the assumption that any functioning USTs are not leaking and are properly registered and that any abandoned USTs are free from contamination and were properly drained, filled and sealed. Comments -ss OX There are no apparent Hazardous Waste Sites on the subject property or nearby the subject property (except as reported in Comments below). Hazardous Waste Site search by a trained environmental engineer may deter- minethat there is one or more Hazardous Waste Sites on or in the area of the subject property. [~X The value estimated in this appraisal is based on the assumption there there are no Hazardous Waste Sites on or nearby the subject property that negatively affect the value or safety of the property. Comments s' ~ s a OX All or part of the improvements were constructed before 1982 when UREA foam insulation was a common building material. The only way to be certain that the property is free of UREA formaldehyde is to have it inspected by a qualified UREA formaldehyde inspector. 0 The improvements were constructed after 1982. No apparent UREA formaldehyde materials were observed (except as reported in Comments below). 0 The value estimated in this appraisal is based on the assumption there there is no significant UFFI insulation or other UREA formaldehyde material on the property. Comments .~ 0 All or part of of the improvements were constructed before 1980 when Lead Paint was a common building material. There is no apparent visible or known documented evidence of peeling or flaking Lead Paint on the floors, walls or ceilings (except as reported in Comments below). The only way to be certain that the property is free of surface or subsurface Lead Paint is to have it inspected by a qualified inspector. [~ The improvements were constructed after 1980. No apparent Lead Paint was observed (except as reported in Comments below). The value estimated in this appraisal is based on the assumption that there is no flaking or peeling Lead Paint on the property. Comments •• s There are no apparent signs of Air Pollution at the time of the inspection nor were any reported (except as reported in Comments below). The only way to be certain that the air is free of pollution is to have it tested. The value estimated in this appraisal is based on the assumption that the property is free of Air Pollution. Comments - ff ssR - X The site does not contain any apparent Wetlands/Flood Plains (except as reported in Comments below). The only way to be certain that the site is free of WetlandslFlood Pains is to have it inspected by a qualified environmental professional. X[~ The value estimated in this appraisal is based on the assumption that there are no WetlandslFload Plains on the property (except as report in Comments below). Comments s -s °- There are no other apparent miscellaneous hazardous substances and/or detrimental environmental conditions on or in the area of the site except as indicated below. 0 Excess Noise 0 Radiation/Electromagnetic Radiation - [~ Light Pollution __ [~ Waste Heat __ 0 Acid Mine Drainage __ Agricultural Pollution =_ Geological Hazards 0 Nearby Hazardous Property __ [~ Infectious Medical Wastes - 0 Pesticides _, 0 Others (Chemical Storage/Storage Drums, Pipelines, etc.) __ The value estimated in this appraisal is based on the assumption that there are no Miscellaneous environmental Hazards (except those reported above) that would negatively affect the value of the property. When any of the environmental assumptions made in this addendum are not correct the estimate value in this a raisal ma not be valid. ClickFORMS Appraisal Software 800-622-8727 Environmental Addendum Page: 2 of 2 Page 12 of 15 Michael Hennigan Appraisals MULTI PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS File No. S903204• Case No. Borrower/Client Estate of Dolores A. Fealtman Property Address 12 Railroad Avenue City Summerdale County Cumberland State PA Zip Code 17093 Lender Estate of Dolores A. Fealtman Address 12 Railroad Avenue; Summerdale, PA 17093 This Multi-Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a con- venient way to comply with the current appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the Office of the Controller of Currency (OCC), The Office of Thrift Supervision (OTS), the Resolution Trust Corporation (RTC} and the Federal Reserve. This Multi-Purpose Supplement Addendum is for use with any appraisal. Only those statements which have been checked by the appraiser apply to the property being appraised. The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The function of the appraisal is to assist the above-named Lender in evaluating the subject property for lending purposes. This is a Federally related transaction. ^X The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property and neighborhood, and selection of comparable sales within the subject market area. The original source of the com- parables is shown in the Data Source section of the market grid along with the source of confirmation, if available. The original source is present first. The sources and data are considered reliable. When conflicting information was provided, the source deemed most reliable has been used. Data believed to be unreliable was not included in the report nor used as a basis for the value conclusion. 0 The Reproduction Cost is based on Marshall & Swift Cost Handbook supplemented by the appraiser's knowledge of the local market. ^X Physical depreciation is based on the estimated effective age of the subject property. Functional and/or external depreciation, if present, is speafically addressed in the appraisal report or other addenda. In estimating the site value, the appraiser has relied on personal knowledge of the local market. The knowledge is based on priorlor current analysis of site sales and/or abstractions of site values from sales of improved properties. X^ The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not consi- dered to be meaningful. For this reason, the Income Approach was not used. ^ The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on the appraiser's knowledge of the subject market area. The rental knowledge is based on prior and/or current rate surveys of residential properties. The Gross Rent Multiplier is based on prior and/or current analysis of prices and market rates for residential properties. ^ For income producing properties, actual rents, vacancies and expenses have been reported and analyzed. They have been usred to pro- ject future rents, vacancies and expenses. According to The Multi-Listing Service the subject property: ^X has not been offered for sale in the past 30 days. ^ is currently offeredfor sale for $ was offered for sale within the past 30 days for $ Offering information was consideredin the final reconciliation of value. Offering information was not considered in the final reconciliation of value. Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum. According to The tax assessment office the subject property: ^ has not transferred in the past twelve months. X has not transferred in the past 36 months. ^ has transferred in the past twelve months. ^ has transferred in the past 36 months. ^ All prior sales which have occurred in the past months are listed below and reconciled to the appraised value, either in the body or the report or In the aoaenaa. Date Sales Price Document # Seller Buyer 0 Subject property is not located in a FEMA Special Flood Hazard Area. ^ Sub~ect ro er is located in a FEMA S ecial Flood Hazard Area. _ Zone FEMA Ma /Panel# Ma Date Name of Communit _~ C 4203596 04/15/77 East Pennsboro Township The community does not participate in the National Flood Insurance Program. The community does participate in the National Flood Insurance Program. It is covered by a regular program. It is covered by an emergency program. FW-70M November 1991 ClickFORMS Appraisal Software 800-622-8727 Page 13 of 15 Multi-Purpose Supplemental Addendum Page I of 2 Michael Hennigan Appraisals File No. S903204 No. The subject property iscurrently nat under contract. ^ The contract and/or escrow instructions were not available for review. The unavailability of the contract is exp{ained later in the addenda section. ^ The contract and/or escrow instructions were reviewed. The following summarizes the contract: Contract Date Amendment Date Contract Price Seller ^ The contract indicated that personal property was not included in the sale. The contract indicated that personal property was included. It consisted of Estimated contributory value is $ Personal property was not included in the final value estimate. Personal property was included in the final value estimate. The contract indicated no financing concessions or other incentives. ^] The contract indicated the following concessions or incentives: If concessions or incentives east, the camparables were checked for similar concessions and appropriate adjustments were made, if applicable, so that the final value conclusion is incompliance with the Market Value defined herein. 3-6 month(s) is considered a reasonable marketing period for the subject property based on Current market data and MLS Publications. The Appraiser certifies and agrees that: (1) Their analyses, opinions and condusions were developed, and this report was prepared, in conformity with the Uniform Standards of Profressional Appraisal Practice ("USPAP"), and in accordance with the regulations developed by the Lender's Federal I4egulatory Agency as required by FIRREA, except that the Department Provisions of the USPAP do not apply. (2) Their compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurence of a subsequent event. (3) This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimental environmental conditions. The appraiser's routine inspection of and inquires about the :subject property did not develop any information that indicated any apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise stated in this report. It is possible that tests and inspections made by a qualified hazardous substance and enviornmental expert would reveal the existence of hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value. Appraiser's Signa~re Appraiser's Name ( int) Michael Henn State _ PA ^ License ~i~icdFd'~ 1,0r~'009 Date Prepared March 24, 2009 _ Phone # ( 717 ) 774-8766 PA RL 002010-L Tax ID # ^ The co-signing appraises has personally inspected the subject property, both inside and out, and has made an exterior inspection of all comparable sales listed in the report. The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the contents of the report including the value conclusion and the limiting condi- tions, and confirms that the certifications apply fully to the co-signing appraiser. ^ the co-signing appraiser has not personally inspectedthe interior of the subject property and: ^ has not inspectedthe exterior of the subject property and all comparable sales listed in the report. ^ has inspectedthe exterior of the subject property and all comparable sales listed in the report. ^ The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the contents of the report, including the value conceusions and the limiting conditions, and confirms. that the certifications apply fully to the co-signing appraiser with the exception of the certification regarding physical inspections. The above describes the level of inspection performed by the co-sigining appraiser. [~ The co-signing appraiser's level of inspection, involvement in the appraisal process and certification are covered elsewhere in the addenda section of this appraisal. Co-Signing Appraiser's Signature Co-signing Appraiser State ^ Licen Name (print) Effective Date March 19, 2009 Date Prepared _ Phone # ( ) Trainee Tax ID # FW-70M November i99~ ClickFORMS Appraisal Software 800-622-8727 Page 14 of 15 Multi-Purpose Supplemcnlal .4ddcndum Pagc 2 of 2 ._ .~ u.. y~,, ~~. 9 ~ 4 A;. < ~~ ~~ " ~ ~ ~~,i. . t y~ ( °~' Q ~ •^ ~M• E 1~fgi ~My .yy~• •^ yy~}; ~^a ~Iril ~f iF~l~'L ~f~IJ #.~~ 14 ~~1~~1~;~~~)~ 1 ~~ j~~'~} ~~ }g ~"t~ ~ "5 -~~ ~~F~t~t;~rt ~f ~~atc hR : ~~~~ t~~` ['~~~~f`~~~i~~~:1 end ~~{ct~p~~~n~i .~~"~'~~r 3 r ~~ ~~ £~ `.~ 4 ~~~~f \~~t~) ` ~~ Y ~ 12 L`~~~~11~~i~ ~.i.~~il. ~. ki ~# ~ ~Qi`~t~€~~ R~id~ntt~i ~p~Pd~S~t' AC~~Y ~... - .' F, "M ~ y ( ~ ~ J~f-~bi~ ~ ~U~{i~A ~ ~ . ~:~ . y jjj 3~++tt 1 ~,y Y #+ j)~~l~ ~r~,l lSJ~~L_!"s-.~(J i'.:h! ~rJl ~~ (n~ snns~~ ~~(rr''II nn ~~~~'iN ~~~~R ~Q, ':4 .. .~ ~ 1/ T rs b ~ '~` _ 5~« F`:3: _ 1.:~ t ~.. 1 < +~ 1'x'.1" 4 : ... _ .p! .R ~ . „ INVOICE Date: March 24, 2009 Prepared for: Estate of Dolores A. Fealtman 12 Railroad Avenue Summerdale, PA 17093 Property Appraised: Estate of Dolores A. Fealtman 12 Railroad Avenue Summerdale, PA 17093 Work Performed File No. S903204 Case No. Single Family Residential Appraisal $ 325.00 3/19/09 $ -325.00 Total Amount Due: $ 0.00 Please make checks payable to: Michael Hennigan Appraisals 400 Beacon Hill Rd New Cumberland, PA 17070 ~.ncKrurcmJ Hppraisai Sortware 8t)0-622-8727 M&T Banl~ ACCOUNT N0. ACCOUNT TYPE 951088511 DIRECT DEPOSIT CHECKING 00 0 06121M NM I17 13647 DOLORES A FEALTMAN BOX 185 RAILROAD AVE SUMMERDALE PA 17093-0185 ACC'[ll1NT Sl1MMARY STATEMENT PERIOD PAGE -- MAR.06-APR.03,2009 1 OF 2 SUMMERDALE PLAZA <:aEGINNING BALANCE; 'OEPOS~TS 8.. `OtHER:ADDZTtONS ' . <' CHICKS<PAt~ _ OTHER SUBTRACTIONS CURRENT _ . INTEREST PD ENQIN6 ''~:: BALANCE N0. AMOUNT N0. AMOUNT N0. AMOUNT 1,137.31 0 0.00 1 20.00 8 1,117.31 iD.00 0.00 ~f'f_[111NT A['T T V TTY POSTING DATE «' __ - TRANSACTION DESCRIPTION: DEPOSITS, INT1*R. EST $>OTHER ADDITIONS CHECKS : $: ;OTHER. SUBTRACTIONS <>YAILY:<. BALANCE 03-06-09 BEGINNING BALANCE 51,137.31 03-09-09 NON-M8T ATM FEE ON 03/06 2.00 STAR NETMORK 6280 CARLISLE PIKEMECHANICSBURGPA 03-09-09 ATM CASH WITHDRAMAL ON 03/06 402.00 STAR NETNORK 6280 CARLISLE PIKEMECHANICSBURGPA 03-09-09 HO NAH RESTAURANT LEMOYNE 27.10 03-09-09 PIZZA HUT 023084430115717-697-5600 25.25 03-09-09 CHECK NUMBER 0787 20.00 660.96 03-11-09 PURCHASE ON 03/09 36.23 FUEL CITY TRUC ENOLA PA 03-11-09 POS ATM FEE 0.50 624.23 03-13-09 SEVENBRIDGES 30045918HARRISBURG 6.44 617.79 03-16-09 CLOSEOUT 617.79 0.00 ENDING BALANCE 50.00 ~HE1KS >PAID S1JMMA.RY 787 03-09-09 20.00 L008A (6/07) _~,r ,. , t , , ~ ; ~ u r ~ ~ ~~ ~' ~h~ ~. ~,^~.,~ c ~".