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Home My WebLink About08-19-10 (4)`-~ REV-1 g00 °"°' ~' ~ PA DapaMaNd of Revenue Bumau of bldhAdual Tsuaea •'--` Po eox.2eoeol MIHi Flanisaap. PA 1774&0901 F 35056107143 OFFICIAL USE ONLY CanbC~ v~. FMNrirr AX RETURN 21 10 0134 ECEDBrT Date of BiM 04 06 19za Daoede-d'a FNst Name ~ ANNE S BfTER DECEDHR NiFORMATiON BH.01N Sodal 3scudly Number Data of DeMI- 156 20 5761 11 20 2009 DsoedarA's Lwt Name Su9bc AiaDaRSOI~ (ff AppRcabla) Enter Survivkg Spawa'a Mtonnatlon Below Spoues's Last Name Su9k Spouee'a SodN Sscudly Number Spouse's Fimt Name MI TIAB RETURN IN18T BE FlLED IN DUPLICATE WITH THE REGISTER OF WILLS F91 IN APPROPRIATE ovALS eela+ly ^ ~ a suppNn~na>~.n ^ ~, ~ ter.adee~ Q ~ ~ , 4.LYNIWEedM ^ ~'(dwdd~iil~iilwi&12~ ~ 5.FatkiMEN~leTexRa6mRagiied ® 8' ~ ~ ~ ~ 7. ~1l~pTn~t ( +~~ ~ S.ToYiNimifwafSafspapoeNBmse t o 9. LlepetlonPiacasdsReaelNd ~ 1Q ~' t~~~' ^ 11.8cfi.Oj darSee.917~ CO ~ONDENf -7M9 9EC710N eiurr ne COeP1.eTeD. ALL COOIa)ENCH AND CO NRDENT DINECT6D TO: w. T Na me ~~ CRY R JOH1QSTdN III (412) 297 4900 Fhat Mna oR address 625 LISBR'1R AV>I~ Second tine of addnw Cily a Poet OSks PITTSBURGH li q~';<ISTER OF U8E Ott i a ~~ [~~n ~ r `r>. ~n ~cra~ t0 C7 ~ ~. 8taM 21P Coda PA 152223152 LJ :.z7 _~ ~ rte, L; ~ ~"~; C.=~ '?? r ~=°~ ~-, _7 ! r-~7 ~~_ ~~ ,:.'~ T ~`~ aT.S LIb~Ity Avenlw, PitbblN~ph,, PA - Side 1 ` 1505610143 150561D143 J REV-1500 EX Dm'.Na~: Anderson, Anne S. Decedent's Social Security Number 156 20 5761 RECAPITULATION 1,053,333.00 1. Real Estate (Schedule A) ....................................................................................... 1. 139,883.52 2. Stocks and Bonds (Schedule B) ............................................................................. 2. 3. Closely Hekf Corporation, Partnership or Sole-Proprietorship (Schedule C)......... 3. 4. Mortgages 8 Notes Receivable (Schedu~ D) ........................................................ 4. 48 , 855.60 5. Cash, Bank DeposRs & Miscellaneous Personal Property (Schedule E) ............... 5. 6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested............ 6. 7. Inter-Vivos Transfers & Miscellaneous Iyoq Probate Property arate Billing Requested Se 7 90 , 3 6 9.67 ............ p (Schedule G) u . g. Total Gross Assets (total Lines 1-7) ..................................................................... g, 1 , 332 , 441.7 9 46,393.46 9. Funeral Expenses 8 Administrative Costs (Schedule H) ....................................... 9. 18 9 , 817.00 10. Debts of Decedent, Mortgage Liabilities, 8 Liens (Schedule I) .............................. 10. 236,210.46 11. Total Daduetions (total Lines 9 & 10) ................................................................... 11. 1 , O 96 , 231.33 12. Net Value of Estate (Line 8 minus Line 11) .......................................................... 12. 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) ............................................... 13. 1 , 0 96 , 231 ' 33 14. Net Value Subjsct 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 15 0 . 0 0 (a)(1.2) X .00 16. Amount of Line 14 taxable 1,096,231.33 16. 49,330.41 at linealrateX .045 17. Amount of Line 14 taxable 0.00 17. 0.00 at sibling rate X .12 18. Amount of Line 14 taxable 0 . 0 0 18. 0.00 at collateral rate X .15 19. Tax Due .................................................................................................................. is. 49,330.41 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT. 1505610243 Side 2 1505610243 1505610243 REV-1500 EX Page 3 Decedent's Complete Address: Fite Number 21-10-0134 DECEDENTS NAME Anderson, Anne S. STREET ADDRESS 4 Alexandria Court CITY Mechanicsburg STATE PA ZIP 17050 Tax Payments and Credits: 1. Tax Due (Page 2, Line 19) 2. Credits/Payments A. Prior Payments B. Discount 0.00 3. Interest q, If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 2 Line 20 to request a refund (1) 49,330.41 Total Credits (A + B) (2) 0.00 (3) (q) 5, If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 49,330.4'1 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 :............................................................................... ^ II~~II b. retain the right to designate who shall use the property transferred or its income :.................................. c. retain a reversionary interest; or ............................................................................................................... x d. receive the promise for life of either payments, benefits or care7 ............................................................ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate cons{derationl .................................................................................................................... ^x ^ 3. Did decedent own an "intrust for" or payable upon death bank account or security at his or her death?....... ^ ^x 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation9 .................................................................................................................. ^x ^ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before Jan. 1, 1995, the tax rate imposed on the net value of transfers to or far the use of the surviving spouse is 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 0 percent p2 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 Juty 1, 2000: • The tax rate imposed on the net value of transfers from a deceased child 21 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 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 4.5 percent, except as noted in 72 P.S. §9116 1.2) [72 P.S. §9116 (a) (i)]. . The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent [72 P.S. §9116 (a) (1.3)]. A sibling is defined under Section 9102, as an individual who has at least one parent in common with the decedent, whether by bloodd or adoption. Rw-760] EX+ (t t-08) SCHEDULE A REAL ESTATE cosawNw~EwiTH of rENNSVlvANu INHERITANCE TAX RETURN RESIDENT OECEDEM ESTATE OF Anderson. Anne S. NUMBER All rsN property owned soNly or u • bnant In common must lrs rsportsd at fair marital valve. Fair merksl value is tbfined as the price at which pro~eAy would be exchanged bstwesn a willing buyer and a wiilirp seller, nei0rsr Osirp compelled to buy or wll, both having rsawnaDle knowledge N the rsbvem fans. Real property which la JolMty~ownsd vMh right W survivorship must M dlaelosed on achadub F. Attach ^ copy tH lM sattlsmsn! sheet H the property has bean sold Irrcluw a Dopy of en deed showing deeadanPs Interest H owned .. tenant In common. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 I Real estate located at 4 Alexandria Court, Mechanicsburg, Cumberland County, PA; Tax I 1,053,333.00 Parcel ID #38-07-0461-115 -average appraised value. See appraisals attached. TOTAL (Also enter on Line 1, Recapitulation) I 1,053,333.00 (If more space is needed, additional pages of the same size) Copyright (c) 2009 form software only The Lackner Group, Inc. Form PA-1500 Schedule A (Rev. 11-08) Rsv-16os Ex.1~1 SCHEDULE B STOCKS 8r BONDS cO1.11,aNwEALTN of vENNSVwANN INHERITANCE TAX RETURN RESIDEM DECEDENT ESTATE OF FILE NUMBER Anderson, Anne S. 21-10-0134 All propsAy jolntlyowmsd with dpht o1 survirorahip mat ba diulossd on SchsdWs F. ITEM NUMBER CUSIP NUMBER DESCRIPTION UNIT VALUE VALUE AT DATE OF DEATH 1 002088702 200 shares of AT&T Inc. -Com 26.145 5,229.00 2 166764100 100 shares of Chevrontexaco Corp -Com 76.815 7,681.50 Accrued dividend on Item 2 through date of death 68.00 3 264411606 B00 shares of Duke Realty Corp -Com New 11.595 6,957.00 Accrued dividend on Item 3 through date of death 102.00 4 268848102 1,600 shams of E M C Corp Mass -Com 16.87 27,152.00 5 294821608 480 shares of Ericsson L M Telephone Co - Adr B Sek 10 10.085 4,840.80 8 389804103 200 shares of General Electric Co -Com 15.585 3,117.00 7 423074103 300 shares of Heinz H J Co -Com 42.715 12,834.50 g 594918104 964 shares of Microsoft Corp -Com 29.6 28,534.40 Accrued dividend on Item 8 through date of death 125.32 g 664902204 1,100 shares of Nokia Corp -Sponsored Adr 13.26 14,586.00 10 713448108 200 shares of Pepsico Inc -Com 61.87 12,374.00 11 667477103 400 shares of State Street Corp -Com 41.205 16,482.00 TOTAL (Also enter on Line 2. Recapitulation) 139,863.52 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1600 Schedule B (Rev. 6-98) acv-tsoa ex+ Is-sal SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY COGMO N W EALTN OF PENNSYLVANIA INNERRANCE TAX RETURN RESIDENT DECEDENr ESTATE OF FILE NUMBER Anderson, Anne S. 21-10-0134 InGuOe tM s a iiuppanon and tlla dale the proceeds were receivetl b ux eslele. NI property Jointly-owned wtlh tlN right of slmWOrahip must M dlaaoaad on seMdule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 American Express Trevelere Checks 150.00 2 MorganStanley SmithBarney Account #617-063594-124 -cash 854.06 Accrued interest on Item 2 through date of death 0.01 3 PNC Bank Checking Account #00-0079-5133 8.158.76 Accrued interest on Item 3 through date of death 0.09 4 PNC Bank Savings Account -includes accrued interest 86.51 5 Jewlery -see appraisals attached 20,640.00 6 Silver Dinnerware 810.00 7 Tangible pereonal property -see appraisal attached 12,095.00 8 Highmark -refund 637.00 9 Highmark -refund 144.00 10 PA Department of Revenue -refund on 2009 Form PA40 881.00 11 U.S. Treasury -refund on 2009 Form 1040 1,080.00 12 USAA -premium refund 132.19 13 USAA -refund and cancellation credit 3,186.98 TOTAL (Also enter on Line 5. Recapitulation) I 48,855.80 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-7500 Schedule E (Rev. 6-98) Rev-7610 F.%a pd0) SCHEDULE G INTER-VIVOS TRANSFERS 8 MISC. NON-PROBATE PROPERTY COMMONWEQTH OF PENNSYLVANIA INHERITANDE TAX RETVRN RESIDENT DECEDENT ESTATE OF (FILE NUMBER Anderson. Anne S. 21-10-0134 This schedule must ba camplsted and Rled N tlls answer to any of aws6ons 1 through 4 on Ne roveroe sitle of the REV-1500 COVER SHEET b yes. ITEM NUMBER DESC IPTION OF PROPERTY TNELDATE OF RANSER.SATTACHTA COPY OF THE DEED FOR RFAL ESTATE. DATE OF DEATH VALUE OF ASSET %oFOecD•s INTEREST Excl.usloN )F APPLICABLE) TAXABLE VALUE 1 At the time of her death, the Decedent had a 0.00 0.00 Revocable Trust Agreement dated January 31,1881. The trust contained no assets. A copy of the Trust Agreement is attached. Gifts 2 Barbara A. Carruthers (Daughter) - 2008 gift 12,000.00 3,000.00 9,000.00 3 Barbara A. Carruthers (Daughter) - 2008 gift 13,000.00 3,000.OD 10,000.00 4 John A. Anderson (son) - 2008 gift 12,000.00 3,000.00 8,000.00 6 John A. Anderson (son) - 2008 gift 13,000.00 3,000.00 10,000.00 6 Peter H. Anderoon (son) - 2008 gift 72,000.00 3,000.00 9,000.00 7 Peter H. Anderson (son) - 2008 gift 13,000.00 3,000.00 10,000.00 At the time of death, the decedent had an IRA numbered 11562057616 with Vanguard. John A. Anderson, Peter H. Anderson, and Barbara A. Carruthers aro beneficiares of this account. The account consisted of: 8 Vanguard Fixed Income Securities Fund - L Tenn 33,369.67 33,368.67 Invgrd I, CUSIP #922031109 TOTAL (Also enter on Line 7, Recapitulatlon) I 90,369.67 (K more space is needed, additional gapes of the same size) Copyright (c) 2002 form software onty The Lackner Group, Inc. Form PA-1600 Schedule G (Rev. 6-98) CONN~~~~,C~~IKI~ANIA I ICC~FF SCHEDULE H FUNERAL EXPENSES 8 1DMINISTRATIVE COSTS ESTATE OF FILE NUMBER Anderson. Anne S. _ 21-10-0134 Debffi of decedent must be reported on Schedule I. ITEM DESCRIPTION AMOUNT A, FUNERAL EXPENSES: See continuation schedule(s) attached B. I ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) Stroet Address Citv Year(s) Commission Daid State Zio 5,673.18 2. Attomev's Fees 30,000.00 See continuation schedule(s) attached 3, Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zio Relationship of Claimant to Decedent 4. Probate Fees 102.25 See continuation schedule(s) attached 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. Other Administrative Costs 10,818.03 See continuation schedule(s) attached TOTAL (Also enter on line 9, Recapitulation) 46,393.46 Copyright (c) 2009 form software only The Lackner Group, Inc. Form PA-1600 Schedule H (Rev. 10-06) SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS continued ESTATE OF FILE NUMBER Anderson Anne S. 21-10-0134 ITEM NUMBER DESCRIPTION AMOUNT 1 Funeral Ex~nses Cuttings - flowere 221.49 2 Edgeworth Club -funeral reception 1,628.38 3 Jean Henderson -clergy honorarium 250.00 4 Malpezzi Funerel Home -funeral bill 3.050.33 5 Rome Monument Works -engrave date on headstone 135.00 8 Sewickley Cemetery -funeral expense 390.00 H-A 5,873.18 orney Fees 7 Cohen 8 Grigsby, P.C. -legal fees 30,000.00 H-B2 30,000.00 Probate Fees 8 Cumberland County Register of Wills -probate fees 102.25 H-64 102.25 Other Administrative Costs 9 Barbara A. Carruthere - reimbursement re appraisal 80.08 10 Carlisle Sentinel -legal advertising 230.02 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-7500 Schedule H (Rev. 6-98) SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS continued ESTATE OF FILE NUMBER Anderson, Anne S. 21-10-0134 ITEM NUMBER DESCRIPTION AMOUNT 11 Cumberland Legal Journal -legal advertising 75.00 12 John Anderson -reimbursement for tangible personal property appraisal 95.00 13 John Anderson -reimbursement for postage and shipping supplies 97.57 14 John Anderson -reimbursement for postage 1.39 15 John Anderson -reimbursement for shipping charges re tangible personal property (to Ohio) 1,977.01 16 John Anderson -reimbursement for shipping charges re tangible personal property (to 2,461.97 California) 17 Mark Heckman Real Estate Appraisals -appraisal fee 500.00 18 Minnici Appraisals -appraisal fee 300.00 19 Munns Diamond Gallery -appraisal fea 40.00 20 Parks Van & Storage -storage 3,432.90 21 Parka Van 8: Storage -storage 283.60 22 Parks Van 8~ Storage -storage 283.60 23 Parks Van 8 Storage -storage 101.90 24 Rowe's Auction Service -commission and pick up fee for sale of tangible personal property 308.01 25 RSR Appraisers & Analysts -appraisal fee 350.00 H-67 10,618.03 Copyright (c) 2002 form softwaro only The Laekner Group, Inc. Form PA-1500 Schedule H (Rev. 6-98) R•v-tstz Ex.ltzael COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE 1 DEBTS OF DECEDENT, MORTGAGE LIABILITIES, 8~ LIENS ESTATE OF FILE NUMBER Anderson. Anne S. _ 21-10-0134 Report Mbb Incurt•d try U,• d•e•d•M pdor b death that nmaln•d unpaid at tM deb of death, Including unrNmbunNW m•dlcal •Xp•n•es. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 Bluff Gardens -items ordered before death 164.33 2 Cohen 8: Grigsby, P.C. -legal fees and disbursements owed at time of death 1,271.58 3 Comcast -cable bill 107.30 4 Duraclean Solutions -outstanding check 856.00 5 Hartzell Eye MDS -outstanding medical bill (not covered by insurance) 20.19 8 Master Card -outstanding credit card bill 1,751.72 7 Pinnacle Health Medical Services -outstanding medical bill (not covered by insurance) 19.33 8 PNC Bank Line of Credit 183,177.51 9 PPL -electric bill 223.17 10 UGI Gas Service -gas bill 187.05 11 USAA -premium payment 950.57 12 Verizon -telephone bill 128.72 13 West Shore EMS -outstanding medical bill (not covered by insurance) 979.53 TOTAL (Also enter on Line 10, Recapitulation) I 189,817.00 (H more space is needed, additional pages of the same size) Copyright (c) 2009 form software only The Lackner Group, Inc. Form PA-1500 Schedule 1 (Rev. 12-08) .,-- .-.--- ` __ ' SCHEDULE J co ~'lsi`Wfo~~nNU I BENEFICIARIES ESTATE OF FILE NUMBER Anderson, Anne S. 21-10-0134 NAME AND ADDRESS OF RELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE NUMBER PERSON(S) RECEIVING PROPERTY DECEDENT (Words) (S$$) I TAXABLE DISTRIBUTIONS (include outright spousal • dtstnbutiona, and transfers under Sec. 9116 a 1.2 1 John A. Anderson Son 845,514.11 4 Alexandria Court Mechanicsburg, PA 17050 2 Peter H. Anderson (Deed 6/25N0) Son 75,358.61 15850 North Thompson Peak Parkway #2303 Scottsdale, AZ 85260-2120 3 Barbara Carruthers Daughter 75,358.61 119 West Riverglen Drive Columbus, OH 43085 Total 1,086,231.33 Enter dollar amounts for distributions shown above on lines 15 throw h 18 on Rev 15 00 cover sheet as a ro riate . NON-TAXABLE DISTRIBUTIONS: II. A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEETI Copyright (c) 2009 form soflwaro ony The Laekner Group, Inc. Form PA-7600 Schedule J (Rev. 11-08) WILL I, ANNE 5. ANDERSON, of Allegheny County, Pennsylvania, make this will, hereby revoking all my former wills and codicils. ARTICLE ONE BEQUESTS OF TANGIBLE PERSONAL PROPERTY § 1.1 I bequeath all my tangible peXSOnaI property, exclusive of any such property used in a trade or business, in accordance with the terms of a signed and dated memorandum I may prepare. If no such memorandum is located or received by the executor within 60 days after being appointed as such, after conducting a reasonable search for such memorandum, the executor shall be held harmless for distributing such property as hereinafter provided. I bequeath the balance of any such property not disposed of by such memorandum, or all of such property if no such memorandum is so located or received, to my children, JOHN A. ANDERSON (hereinafter in this will referred to as "John"), PETER H. ANDERSON (hereinafter in this will referred to as "Peter"), and BARBARA A. CARRUTHERS (hereinafter in this will referred to as "Bazbaza"), who survive me, to be divided among them as they agree. In case of disagreement among my children, the property that is the subject of such disagreement shall be sold and the proceeds thereof shall be distributed in equal shares to my said children. §1.2 I direct that the expenses of storing, packing, shipping, insuring and delivering any such property to the beneficiary entitled thereto shall be paid by the executor as an administrative expense of my estate. In addition, to the extent practicable in the executor's sole discretion, I bequeath any policies of insurance on such property to the beneficiary entitled to such property. ARTICLE TW O DEVISE OF RESIDENCE; EXERCISE OF POWERS OF APPOINTMENT §2.1 At the time of the execution of this will I am having a new residence built for me in Silver Spring Township, Cumberland County, Pennsylvania, which residence is slated to be known and numbered as 4 Alexandria Court, Mechanicsburg, PA 17050 (hereinafter in this will referred to as the "Residence"). If I own the Residence at the time of my death, whether or not the original construction has been completed and the Residence is ready for occupancy, I devise and bequeath the Residence to John, if he survives me, or if he does not survive me, but his wife, SHEILA M. ANDERSON, survives me (hereinafter referred to in this will as "Sheila"), to Sheila; provided, however, Sheila shall be presumed to have predeceased me for all purposes herein if at the time of john's death they were divorced, divorce proceedings existed between them (notwithstanding whichever of them instituted such proceedings), or they were living "separate and apart" as defined in the Pennsylvania Divorce Code as of the date of this will (notwithstanding the residency or domicile of either of them). §2.2 if I die before the original construction of the Residence is completed, the devisee (if any) in §2.1 of this will shall be responsible for all costs to complete the construction of the Residence; provided, however, to the extent at the time of my death there are unpaid costs of construction for work that has been completed, such costs shall be paid by the executor of my estate as a debt of my estate. In such event, I make no corresponding bequest or other allocation of property to Peter, Barbara, or their issue. §2.3 Under Section B. of Article Three of that certain Irrevocable Insurance Trust Agreement dated March 12, 1982, by and between my deceased husband, ALAN H. ANDERSON, as Settlor, and me as Trustee (hereinafter in this will referred to as the "Section B. Power of Appointment"), and under §4.6 of that certain Restatement and Amendment of -2- Revocable Life Insurance Trust Agreement dated March 12, 1982, as amended, by and between my deceased husband, ALAN H. ANDERSON, as Settlor and PITTSBURGH NATIONAL BANK (now PNC BANK, NATIONAL ASSOCIATION) as Trustee (hereinafter in this will referred to as the "§4.6 Power of Appointment"), I am granted a testamentary power of appointment over the property remaining in these trusts in favor of the issue of my deceased said husband. If Peter, Barbara, or any of thcir respective issue survive me, if the devise provided for in §2.1 of this will is made, and if the original construction of the Residence is complete at the time of my death and the Residence is ready for occupancy, whether or not I occupied the Residence, I hereby exercise the foregoing powers of appointment as follows: (a) I direct that a fractional share of the property subject to the Section B. Power of Appointment (valued as of the date of distribution) be distributed to each of Peter and Bazbaza who survives me (or if either of them does not survive me, but is survived by issue of his or her own, to his or her issue who survive me, per stirpes (subject to the provisions of ARTICLE FOUR of this will)), the numerator of which fraction shall be the fair market value of the Residence at the time of my death (reduced by the fair market value of any mortgage thereon at the time of my death (including accrued and unpaid interest)), multiplied by the multiplier set forth in §2.3(c) of this will, and the denominator of which fraction shall be the fair market value on the date of distribution of the property subject to such power of appointment. If Peter (or his issue, as the case may be) and Bazbaza (or her issue, as the case maybe), survive me, and if the fraction so determined is greater than'/~, then each of Peter and Barbara (or his or her respective issue, as the case maybe), shall receive'/Z of the property subject to the Section B. Power of Appointment. If only Peter (or his issue, as the case may be) or Barbara (or her issue, as the case maybe) survive me, and if the fraction so determined is greater than 1, then Peter or -3- Barbara (or his or her respective issue, as the case may be) shall receive all of the property subject to such power. of appointment. (b) If Peter (or his issue, as the case maybe) and Bazbaza (or her issue, as the case may be), survive me and the fraction determined in §2.3(a) of this will was greater than %:, or if only Peter (or his issue, as the case may be) or Barbara (or her issue, as the case may be) survive me and the fraction determined in §2.3(a) of this will was greater than 1, then I direct that a fractional share of the property subject to the §4.6 Power of Appointment be distributed to each of Peter and Barbara who survive me (or if either of them does not survive me but is survived by issue of his or her own, to his or her issue who survive me, per stirpes (subject to the provision of ARTICLE FOUR of this will)), the numerator of which fraction shall be the numerator of the fraction provided for in §2.3(a) of this will reduced by the fair market value of the property distributed to Peter and/or Barbara (or his or her respective issue, as the case may be) as provided for in §2.3(a) of this will, and the denominator of which fraction shall be the fair market value on the date of distribution of the property subject to such power of appointment. If Peter (or his issue, as the case may be) and Bazbaza (or her issue, as the case maybe) survive me, and if the fraction so deternuned is greater than'/z, then each of Peter and Bazbara (or his or her respective issue, as the case may be), shall receive'/: of the property subject to the §4.6 Power of Appointment. If only Peter (or his issue, as the case may be) or Barbara (or her issue, as the case may be) survive me, and if the fraction so determined is greater than 1, then Peter or Barbara (or his or her respective issue, as the case may be} shall receive all of the property subject to such power of appointment. (c) The multiplier referred to in §2.3(a) and (b) of this will shall be as follows: -4- :.~ My death occurs 1. After the date of the execution of this will and before January 1, 2006 ---- Multiplier 25% 2. During 2006 3. During 2007 4. During 2008 5. During 2009 6. During 2010 7. During 2011 8. After December 31, 2011 21% 18% 14% lI% 7% 4% 0% (d) Other than the distributions provided for in §2.3(a)-(b) of this will, it is my intention that, and this will makes, no further distributions to "equalize" my issue for the devise to John or Sheila. It is my intention that the distributions provided for by §2.3(a)-(b) of this will be made as promptly as possible after my death and I direct my executor to take all steps necessary to coordinate with the trustees of the trusts over which I hold the Section B. Power of Appointment and the §4.6 Power of Appointment to do so. (e} The foregoing provisions of this §2.3 can be illustrated by the following exaniples: Example 1. The Residence, net of mortgage indebtedness, is valued at $1,000x. The property subject to the Section B. Power of Appointment is valued at $2,SOOx while the property subject to the §4.6 Power of Appointment is valued at $600x. I die in 2005. John, Peter, and Barbara all survive me. Peter and Barbara are each entitled to $250x, determined as follows: $2,SOOx(($1,OOOx X .25~$2,SOOx) _ $250x. Since the fraction ($1,OOOx X .25)/2,500x} is less than %Z, no distribution is made by §2.3(b) of this will. -5- --- ;. Example 2. Same facts as in Example 1 except that the property subject to the Section B. Power of Appointment is worth $400x. In this event, Peter and Barbara are each entitled to $200x from the Section B Power of Appointment Trust, determined as follows: $400x(($1,OOOx X .25)/$400x) _ $250x, Since the fraction ($1,OOOx X .25)/$400 is greater than'/:, Peter and Barbara each receive `/~ of $400x or $200x. With regard to the property subject to the §4.6 Power of Appointment, Peter and Barbara are each entitled to $50x, determined as follows: $600x((($1,OOOx X .25) - $200x)/$600x) _ $50x. Thus, Peter and Barbara receive a total distribution of $250x ($200x from the Section B. Power of Appointment Trust and $SOx from the §4.6 Power of Appointment Trust. Example 3. Same facts as in Example 2 except that the property subject to the §4.6 Power of Appointment is worth $40x. In that event, although the formula as set forth in §2.3(b) of this will produce the following: $40x((($1,000x X .25) - $200x)/$40x) _ $50x, since the fraction ((($1,OOOx X .25) - $200x~$40x) is greater than %Z, Peter and Barbara are each entitled to %z of $40x, or $20x, for a total distribution of $220x ($200x from the Section B. Power of Appointment Trust and $20x from the §4.6 Power of Appointment Trust. §2.4 If the property subject to the Section B. Power of Appointment and §4.6 Power of Appointment has not been fully appointed pursuant to the terms of §2.3 of this will and if I have issue of my own who survive me, I hereby exercise such powers and appoint all remaining property to my issue who survive me, per stirpes (subject to the provisions of ARTICLE FOUR of this will). -6- ARTICLE THREE DISPOSITION OF RESIDUE §3.1 I devise and bequeath all the residue of my estate to my issue who survive me, per stirpes (subject to the provisions of ARTICLE FOUR of this will), or if none, as provided for in ARTICLE FIVE of this will. ARTICLE FOUR TRUST FOR BENEFICIARY UNDER 30 YEARS OF AGE §4.1 Any property otherwise to be distributed to a descendant of mine, which distribution is made subject to the provisions of this Article, shall, if such beneficiary is under 30 years of age, be held by the trustees Hereinafter named for the benefit of such beneficiary, in trust for the following purposes; provided, however, if such property is from either of the trusts over which I have a power of appointment as provided for in ARTICLE TWO of this will, such appointed properly shall be held in a separate trust pursuant to the terms of this Article; §4.2 The trustees shall hold, manage, invest and reinvest the trust property, shall collect the income thereof and shall apply to or for the benefit of such beneficiary so much of the net income and, if the net income is insufficient, so much of the principal of the trust property as the trustees shall from time to time deem necessary or proper for such beneficiary's health, maintenance, support and education, including college and graduate education,-.and. professional, vocational and technical training, and to assist such beneficiary with his or her reasonable wedding expenses, in the purchase of a principal residence and in the establishment of a profession or business considered a good risk by the trustees, taking into account other available funds known to the trustees, including such beneficiary's assets and other trust funds available for such purposes. The trustees shall annually accumulate any net income not so distributed and add the same to the principal of the trust property. -7- §4.3 The trustee shall distribute to such beneficiary all of the principal of the trust property of his or her trust when such beneficiary attains 30 years of age. §4.4 If such beneficiary dies before the complete termination of his or her trust, the trustee shall distribute the properly then held intrust for such beneficiary to such persons or corporations (other than his or her estate, his or her creditors or the creditors of his or her estate), in such amounts and upon such trusts, terms and conditions as such beneficiary by his or her last will may appoint by specific reference to this limited power of appointment; provided, however, if the trust has an inclusion ratio of other than zero, the trustee shall distribute the property then held intrust for such beneficiary to such persons or corporations, in such amounts, and upon such trusts, terms and conditions as such beneficiary by his or her last will may appoint by specific reference to this general power of appointment. Any property not so appointed shall be distributed to such beneficiary's then living issue, per stirpes, or if none, to the then living issue, per stirpes, of such beneficiary's nearest lineal ascendant who has lineal descendants then living and is a lineal descendant of mine, or if none, to my then living issue, per stirpes (all such distributions being subject, in the case of a distributee who is under 30 yeazs of age, to the provisions of this Article (or to being added to an existing trust for the benefit of such distributee under this Article)), or if none, as provided in ARTICLE FNE of this will. In adding such property to an existing trust, such property may only be added to a trust that is subject to the same rule against perpetuities as the property to be continued in trust (as provided for in §§4.5- 4.6 of this will, as the case may be); if no such trust exists, such property shall be held in a separate trust pursuant to the terms of this Article. §4.5 Notwithstanding any other provision of this will to the contrary, upon the expiration of 21 yeazs after the death of the last survivoz of my issue living on the date of my death, all trusts created by this Article that were funded with property other than property subject -8- `_.__ to those certain powers of appointment described in §2.3 of this will (or that trace to such source of funding) shall forthwith terminate and the trust property shall be distributed to the beneficiary then entitled to benefit from the income of the trust property. §4.6 Notwithstanding any other provision of this will to the contrary, upon the expiration of 21 years after the death of the last survivor of my deceased husband's, ALAN H. ANDERSON's, children and grandchildren who were living on March 12, 1982, alI trusts created by this Article that were funded with property that was subject to either of the powers of appointment described in §2.3 of this will (or that trace to such source of funding} shall forthwith terminate and the trust property shall be distributed to the beneficiary then entitled to benefit from the income of the trust property. ARTICLE FIVE ULTIMATE DISTRIBUTION §5.1 Any property to be distributed in accordance with this Article shall be distributed to the person or persons who would be entitled thereto if my deceased husband, ALAN H. ANDERSON, and I had then each died intestate and unmarried, each seized and possessed of % of such property and domiciled in the Commonwealth of Pennsylvania. ARTICLE SIX APPOINTMENT OP FIDUCIARIES §6. l I appoint PNC BANK, NATIONAL ASSOCIATION executor of this will. §6.2 I appoint EVANS ROSE, JR. and PNC BANK, NATIONAL ASSOCIATION trustees of any trust created by this will. The individual trustee serving from time to time may by an inter vivos writing select an individual to serve as his or her successor if such trustee is unable or unwilling to act or continue as the individual trustee, for any reason whatsoever. In default of such an appointment, the corporate trustee shall serve as the sole trustee. -9- §6.3 The individual trustee of any trust created hereunder may require the resignation of the corporate trustee of such trust by wzitten notice to the corporate trustee and the corporate trustee may resign at any time, without stating cause, such resignation to be effective only upon the appointment by the individual trustee, if any, or if none, by a court of competent jurisdiction, of a corporate fiduciary as successor corporate trustee. At such time as the successor corporatc trustee shall accept the appointment by filing its written acceptance thereof with the resigning corporate trustee, the resigning corporate trustee shall deliver to the successor corporate trustee the securities and other property in its possession which constitute a part of any trust created hereunder from which the resigning corporate trustee is resigning. As used in this will, the term "corporate fiduciary" shall mean a corporate fiduciary that not a "related or subordinate party" within the meaning of Section 672(c) of the Internal Revenue Code with regazd to the individual trustee or any beneficiary of the trust created hereunder for which such corporate fiduciary would serve as corporate trustee (or the spouses of any of them) and that is doing business within any State, Commonwealth or District of the United States and administering (or is affiliated with, or has control of, any corporation administering) trust assets having a value of at least $500,000,000. §ti.4 I appoint the trustees serving from time to time pursuant to the terms of §6.2 of this will as guardians of the estates of any minor beneficiaries under this will, including the proceeds of any life insurance on my life payable to such minors and any other property, rights or claims with respect to which I am entitled to appoint a guardian and have not otherwise specifically done so. §6.5 If at the time of my death I am serving as a custodian of any Uniform Transfers to Minors Act or Uniform Gifts to Minors Act account and have the right to appoint my successor, I appoint PNC BANK, NATIONAL ASSOCIATION as my successor. -10- ARTICLE SEVEN POWERS OF THE FIDUCIARIES §7.1 No fiduciary shall be required to give bond or other security for the faithful performance of the fiduciary's duties. §7.2 Any such fiduciary shall have the following powers, in addition to those given by law: §7.3 To invest in, accept and retain any real or personal property, including stock of a corporate fiduciary or its holding company, without restriction to legal investments; §7.4 To sell, exchange, partition or lease for any period of time aay real or personal property and to give options therefor for cash or credit, with or without security; §7.5 To borrow money from any person including any fiduciary acting hereunder, and to mortgage or pledge any real or peLSOnaI property; §7.6 To hold shazes of stock or other securities in nominee registration form, including that of a cleazing corporation or depository, or in book entry form or unregistered or in such other form as will pass by delivery; §7.7 To engage in litigation and compromise, azbitrate or abandon claims; §7.8 To make elections, decisions, concessions and settlements in connection with all income, estate, inheritance, gift or other tax returns and the payment of such taxes, without obligation to adjust the distributive share of income or principal of any person affected thereby; §7.9 To allocate in the executor's sole and absolute discretion, any portion of my exemption under Section 2631(a) of the Internal Revenue Code to any property as to which I am the transferor, including any property transferred by me during my lifetime as to which I did not make an allocation prior to my death; §7.10 To disclaim any interest I may have in any estate if my executor deems such disclaimer to be in the best interests of my estate and the beneficiaries thereof; and §7.11 To make distributions in cash, or in kind at current values, or partly in each, allocating specific assets to particulaz distributees on a non-pro rata basis, without regard to the income tax basis of any asset and without adjustments for distributions resulting in unequal allocations of income tax bases, and for such purposes to make reasonable determinations of current values. -11- ARTICLE EIGHT PROVISION FOR TAXES §8.1 Each beneficiary under this will, and each recipient of property included in my estate for death tax purposes but passing outside this will, shall pay ail estate, inheritance, transfer and other taxes of a similaz nature, and any penalties and interest thereon, attributable to the property so received by each such beneficiary or recipient; provided, however, that all such payments relating to property passing under the terms of this will shall be made at such time or times as the executor may think proper. ARTICLE NINE MISCELLANEOUS PROVISIONS §9.1 Any term used in the singular or plural, or in the masculine, feminine or neuter form, shall be singular or plural, or masculine, feminine or neuter as a proper reading of this will may require. §9.2 As used in this will, the term "Internal Revenue Code" shall mean the lntemal Revenue Code of 1986, as amended from time to time, or the corresponding provision of subsequent law. §9.3 Notwithstanding any other provision of this will, the general discretionary powers of the trustees are limited so that (a) no trustee shall participate in any decision regarding a discretionary distribution to that trustee personally, and (b) no trustee may use trust income or principal to discharge any legal obligation of that trustee individually. Furthermore, no trustee shall enter into any reciprocal agreement with any other trustee for the purpose of indirectly exercising a power prohibited hereunder. §9.4 Except as otherwise may be provided in this will, whenever the trustees aze authorized or directed to distribute property "to or for the benefit of any beneficiary who is under (a) twenty-one years of age, or (b) a legal disability or otherwise suffers from an illness or -12- mental or physical disability that would make distribution directly to such beneficiary inappropriate (as determined in the trustees' sole discretion exercised in good faith), the trustees may distribute such property to the person who has custody of such beneficiary, may apply such property for the benefit of such beneficiary, may distribute such property to a custodian for such beneficiary, whether then serving or selected and appointed by the trustees (including any trustee), under any applicable Uniform Transfers to Minors Act or Uniform Gigs to Minors Act, may distribute such property to a guardian of such beneficiary's estate, or may distribute such property directly to such beneficiary (except if any of the conditions hereinbefore described in (b) apply), without liability on the part of the trustees to see to the application of such property. This provision shall not in any way operate to suspend such beneficiary's absolute ownership of such property or to prevent the absolute vesting thereof in such beneficiary. §9.5 Except as otherwise may be provided in this will, during the continuance of any of the trusts created under the provisions of this will, and thereafter until the property is distributed to and received by any beneficiary hereunder, the principal sums thus held in trust for any beneficiary, respectively, and the income thereof shall not be subject to or Liable for any contracts, debts, engagements, liabilities or torts of such beneficiary now or hereafter made, contracted, incurred or committed, but shall be absolutely free from the same, and such beneficiary shall have no power to sell, assign or encumber all or any part of the principal sums or such beneficiary's interest therein, respectively, or the income thereof, or to anticipate the income. §9.6 A corporate fiduciary shall be entitled to receive compensation for its services hereunder in accordance with its schedule in effect when the services are performed, but not in excess of such compensation as would be approved by a court of competent jwisdiction. -13- --- '- ;~ §9.7 An individual fiduciary shall be entitled to receive reasonable compensation for such fiduciary's services hereunder. §9.8 Every successor or additional fiduciary shall have all rights, powers, privileges and duties, whether discretionary or otherwise, herein given to the original fiduciazies and shall be subject to the same reservations, limitations, terms and conditions. §9.9 In case of the merger or consolidation of a corporate fiduciary, the resultant company shall become such fiduciary's successor without notice to any parry. §9.10 If there are separate trusts administered under the terms of this will for the benefit of the same beneficiary, whether or not such beneficiary is the sole beneficiary of any such trust, it is my desire, but nat my direction, with respect to any such trust having an inclusion ratio of zero for generation-skipping transfer tax purposes or that is grandfathered from the application of the generation-skipping transfer tax (hereinafter referred to as a "GST-exempt trust"), that the trustees not make any discretionary distributions of net income or principal authorized by the terms of aGST-exempt trust if any cash or readily marketable assets remain in any other separate trust(s) that have an inclusion ratio of greater than zero that authorizes the same discretionary distributions. If such a discretionary distribution is to be made from more than one GST-exempt trust, it is my desire, but not my direction, that the trustees consider not only making distributions from the GST-exempt trust that has the shortest remaining period for the dwation of the rule against perpetuities applicable thereto, but also, if assets need to be sold to fund such a distribution, which GST-exempt trust will generate the Ieast income tax liability upon such a sale. §9.11 As between the trustees, the corporate trustee, if any, shall perform all ministerial and administrative duties, including the keeping of books and records, acting as custodian of the trust property and preparing all necessary tax returns. An individual trustee may -14- {,.r..._ i., ~..__ delegate from time to time to the corporate trustee, if any, by an instrument in writing, any or all of said individual trustee's rights, powers, privileges and duties, whether discretionary or otherwise. §4.12 It shalt not be deemed a conflict of interest for purchases and sales of investments to be made through a corporate trustee or through any finn of which the corporate trustee is a partner, shareholder, proprietor, associate, employee, owner, subsidiary, affiliate or the like. The entity performing such services shall be entitled to receive reasonable compensation therefor and such compensation shall not serve to diminish the compensation to which the corporate trustee is otherwise entitled. §9.13 If the trustees of any trust created under the tenns of ARTICLE FOUR of this will hold stock of an S Corporation, as defined by Section 1361(a)(1) of the Internal Revenue Code, and if the trustees of such trust have the discretion to accumulate income, then the trustees shall distribute all of the net income in quarter-annual installments, or more frequently if the trustees deem it advisable, to or for the benefit of the beneficiary of such trust and the provisions of such trust shall be deemed to be amended to the extent necessary to meet the requirements of Section 1361(4) of the Internal Revenue Code. §9.14 No trustee of any trust created under this will shall be Liable for any loss or depreciation in value sustained by any trust created hereunder as a result of the trustee retaining any property upon which there is later discovered to be hazardous materials or substances requiring remedial action pursuant to any federal, state or local environmental law, unless such trustee contributed to the loss or depreciation in value through willful default, willful misconduct, gross negligence or fraud. §9.15 If any trust created hereunder would otherwise be partially exempt from federal generation-skipping tax after the intended allocation of GST exemption to it, then, before -15- such intended allocation and as of the relevant valuation date under Section 2642 of the Code with respect to such allocation, the trustees shall create instead two separate trusts of equal or unequal value which shall be funded fractionally out of the available property, and which shall be identical in all other respects to the original trust and shall both be administered pursuant to the provisions of such trust so that the allocation of GST exemption can be made to one trust which will be entirely exempt from federal generation-skipping tax and one trust that will not be so exempt. In such event, the trustees shall act within the time period specified in any applicable Treasury Regulation and in such manner as is so specified in order to permit each trust to be recognized as a separate trust for generation-skipping transfer tax purposes. §9.16 A distribution "per stirpes" of any property to issue pursuant to any provision hereunder shall be made to the issue of the designated individual in the following manner and proportions: such property shall be divided into as many equal shares as, at the time stipulated for distribution, there shall be (a) children of such individual then living and (b) children of such individual then deceased having issue then living, and one such share shall be distributable (x) to each of such living children and (y) by representation to the issue of each of such deceased children. [REST OF PAGE INTENTIONALLY LEFT BLANKJ -16- IN WITNE55 WHEREOF, I have hereunto set my hand and seal this ~7~-U~day of ~~,~,! ~ , 2004. ' n 1J ~~;e.~'w~.f.U OIC. SEAL) ANNE S. ANDERSON Signed, sealed, published and declared by the above-named ANNE S. ANDERSON, as and for her last will, in the presence of us and each of us, who, at her request and in her presence and in the presence of each other, have hereunto subscribed our names as witnesses thereto the day and year last above written. _... ~. ~... i` ~ t r residing-at._; 22S L~yKn y1~-ve,~. ~~i,v.2 .~ ;: ; ~ ~ residing at ~. c2'~ / ~~i~/~ residing at ~ P~ ~a zas -,~Zo ~, ~' ~~~ -17- r~ COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF ALLEGHENY I, ANNE S. ANDERSON, the testator, whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed flee instrument as my Last Will; and that I signed it willingly and as my free and voluntary act for the purposes therein expressed. lc.~ ~ ~.•~ v~ ANNE S. ANDERSON Sworn to or affirmed and acknowledged before me by ANNE S. ANDERSON, the testator, this ~~' day of v~ , 2004. (SEAL) _-_. ,~ ~ . Notary Public tJotariat seal 8otxile S. Price, tJatery Pubis City Of Pmsburflh, Atlegheny Courriy My Carxrdssion Expires Feb. 22, 20rJ6 tdstnber, Pennsylvania Assodation Ot tJoaris -18- (__ ;-... COMMONWEALTH OF PENNSYLVANIA : SS: COUNTY OF ALLEGHENY We, \n..n ~'Le.._ ~~ \. ~.L:~MCl1~~ ~IIGC`Y'LG ~ - V \ \ and J ~.~ ~,. ~-.C~.~~ J r , ,the witnesses whose names aze signed to the attached or foregoing instnunent, being duly qualified according to law, do depose and say that we were present and saw the testator sign and execute the instrument as her Last Will; that the testator signed willingly and executed it as her free and voluntary act for the purposes therein expressed; that each subscribing witness in the hearing and sight of the testator signed the will as a witness; and that to the best of our knowledge the testator was at the time 18 or more years of age, of sound mind and under no constraint or undue influence. Witness Sworn to or affirmed and subscribed to before me by \er[a~ ~• ~~,rre.~~.. S~n~rr'. tr (~- 0~1- and -.. E~~,,,5 `sc ~ ~.. ,witnesses, this ~.°~-- day of vs ~` , 2004. r-- (SEAL) ~"' ~ ~.'`'`"`- Notary Public 846580_1 t gonrde S. Price. Notary Pul~c cry a P;ttsburpn, A1~eg~y co,~~v P/~y fonxniss~wn E~~es Feb.22.20?ST- ~ -_--- lion OF t s.::;.;:: a ,.::_n~t2r, Paresytrz~ Nssoca -19- Mark Heckman Real Estate Appraisers 1309 Bridge Street, New Cumberland, PA 17070 Pae No. 4 Alexantlna APPRAISAL OF rl !'{ r ~ i rte,: 1 ~'3iY e ~ t ~ ~'k t~ cX~ C ,Ae~..... 141 t~+;S~" ~ ~Tf R ~ , ~~>.. a Single Family ResldeMial Property LOCATED AT: 4 Alexandria Court Mechanicsburg, PA 17050 FOR: Anderson, JohN Sheila 4 Alexandria Court Mechanicsburg, PA 17050 BORROWER: NA AS OF: February 12, 2D10 BY: Mark W. Heckman, Certified General Appraiser Commonwealth of Pannsyhrania Certification No. GADOOti6tiL PH (717) 774-7202 FAX (717) 774-0383 F_MAIL heNcmanapprafsers~comcastnet Mark Heckman Real Estate Appraisers Uniform Residential Appraisal Report FleNO.4Alexandria The ur ose of this summa a aissl re ort is to tovide the knderlclienl wRh en accurate, and ade oral su orted. o Inion oI the market value of the sub act pro art . IV Adttess 4 Alexandria Court Meehanksbu sme PA z' code 17050 Borratre NA Owrcr d Pu6Gc Racal Anderson Anne S. Cumberland Deed Book 1Ny260 Pa a 02093 Assessors Prcd t 38-07.0461-115 Tu veer 09/1 D R.E rues t 12 SD2.65 Ne' Name Hillside Fames! Silver S rin Townshi Refeence See Assess Parcel # census Trap owner Totem Vtrcem s Assessmems t None known PUD HOA S morah aisad Fee LeasefeM Othe desrr6e nimt T Ptachase Trerwedbn Refuverice Trersaaim Othe tksaWe Estimate market value for estate settlement Lradr/ctemAnderson John/ Sheila Address 4 Alexandria Cou Mechanicsbu PA 17050 k the a6ertd for sak a has 1 been Mend la sale m tM tradve moMlw 'a ro the e6xtive me d this a a'aeR Yes No Report dau souce(s) taati Merkmg pricels), end doe(s). NA I did did nol arelyte the caema br sak fa tle sttlrjN.t ptwdmse uertsadbn. Explain tle testtlts d the analysis d the corlbed for saN w why the anaysis was not petlamed NA Catad Price S NA Wee d Ctmtrecl NA b the sdla Ue owns d ubGc rxadr Yes No Data soatt s NA 611rere a°Jr favavial ass'atarce than rJtrges, sak t:orcessbrts, ga a dtNmpeymen asskarrx, Nc.) to be pad q' anY party on behatl d Na barowerl Yes No tl Yes, report the tdd dolor arrroiel and ttescribe the Hems b be paid. f NA Nato: Rap and the nrJel Rion d the an nor • kal facmrs. lacetbn tkban $trMwban RtrN Vales stele ~ PRICE AGE Ore-UM 60 % Brta Over 75% 25-15% UMa 21% Wmerdlsu N Balance Ova S 2-4 Udl 5 % Cldwtlt Re ' Stable sbw Mark ~ Tkne UridN ~ milts 3.6 mtM Over 6 mtls 150 Low 5 MtrN-Fani % Neighborhood Bmadarles See Attadsed Addendum 800 H' 100 CorrmemiN 5 % 500.900 Prod ts-as anar Vacant 30 % NeigMOdlootl WscrlpWn The su ' fs kx-ated in a eati loos develo meet ctfaracterized exce tional ear a lots and houses in a relative ve hi h rice ra e. Market activ' indicates avers a or better acce rice in the market lace. No unfavorable factors were observed which woukt adverse affect marketable' Martel CoMlbrts frckdktg RtPP°rt fa the above rortckrsbre) See Attached Addendum pmatwions See Deacri area 3.7 acres she Recta veer vow Ve Good s c4ssexadort Residential Estate zo ' W ' ' n Prima trtsitted use is detached si le-fermi rasidenUal Z rice X L I Norcanfarmi GraMaUrNed else No 2 tkSkvbE k the Nglest ed pest use d the subject poptsg as 4nproved (a as proposed pe plans and spedfxattorts) the prcsem use? Yes No tl No, describe. Wiles Public Orter OescAbe Public Other dsaalbe OB-sitar ovarnams- Public Private 400 am re wets SaeN Paved as haR Gss sews None FFJM s Flootl Haiard Area Yes No FEMA Fbd 2tne X FEMA t 42041 C0252E FFJAA Dale 3/16/2009 Ne the ulatbs and M-sea i fade merkH aea7 Yes No B N0. Oeslibe. Are Uere arty adverse site [oIt?diens a eatarel ftKtas (eastatems, ertaoachmena, erNromedal cortdebrrs, pM uses. erc.li Yes No tl Yes, tlesWbe. Ihi1s Ore Drte wBA accts UrYt Crxcde slab Crawl Foudstbn wets Concrete/ Good Fbas HW/ C V Good t dsitries Two FW Beserrrent Feriae Besemaa F~deda woes Stone/ Good well D alU Good T Dot Aa 5-DSLIEnd INil 6asemem Area 3D00 est . IL Rmf solace Arch Shin IP./ Gd TrkNFkdsn Wood! Good P uMe Coral Basenem Fkdsh 30°k % Gwen a tans Alum/ Good Bads Fbor Cer Tile/ Good s Contem ra 2 Sto lDdsde IEak w WfMowT a Double insuU Gd earn waktscet Cer Tile/ Good Year Boa 2D04 EvdNlce d Westadon storm SasMrlsdetad Insulated/ Good Car star None ERedlve rs 5 Da s Sealemem Saeerw Y8S/ Good f d Cers 4 Aelc None H FWA FIwBB Redeem Amenltles Woodst t Drivers surface AR hell a Suk Saks alter Fuel Naf as Fke s t 4 X Fence Metal X t d Cars 4 Fbor Sroak CemtN Ak l.adlianl PeliolDack Parch / d Cars Fidshed Heated bidivNuel Otlra Paul In and Other An. DeL BuR-in fences eta Ra van gsbaashet Mioowave WasheN Odle tlesalbe Fklisled arse above ade ctanakN: 12 Rooms 5 Betraoms 4.5 s 5 956 re FeN d Gross tH' Nee Above Grade AtlSeiond teattaes (spedel energy eeckm kerns. Nc.1. See Attached Addendum Describe the cendition or the property (bdu6rg needed repaks, detaitsdiork renovations. rerrmdeWg Nc.l. The Im rovernents are of ve ood oaf frame des nand retied trod maintenance. Pro reflects normal h sisal tl tbn and no deficiencies were noted. Floor Ian rovides eerie' deli n and a al and should receive ood acre Lance in the market lace. No unusual functional obsolescence or eMemal road uacies were observed. Ne there arty physkN tlNbkrcies a adverse rorr6tbrs dot aged tle Fvabaky. stundress, a slruclml integky d Ne property? Yes No d Yes, describe. Does the aoPertY gereretly romam to tle reigFinahoad (funcBonal utBky, style, coMikon use, conswctioa Nc.)? Ves No tl No, desalbe. _._.__-__..-, V.. _...~.~-. -.-,- rx.re ua. rasa tmvrrtl~alN hpetd6 - tmr l6 oZY Mark Heckman Real Estate Appreisers Uniform Residential Appraisal Report FIkNa. aAlexandrla There ere 4 com rabk o ks arre ol laed fa sale n the rte hbalrood k ham S 667 700 ro S 995 D00 There are 5 can arable sales k dre soh witltn the st IereNe months k role 'a ban S 799 900 to S 1 1 DO 000 FEATURE SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0.2 COMPARABLE SALE NO. 3 4 Alexandria Court 1 Lynchburg Court 5007 Pellirsgham Circle 1916 Monterey !hive Address Mechanicsb ur Mt?ctlanicsbu Enola Mechan'ksbu Pmdm to Same Develo M 5.3 miles NE 4.5 tru7es NE Sek Prhe i NA f 836 292 ~ s 950 000 i 945 D00 Sale PfmlGmss u+. area i 0.00 . n s 183.84 n s 193.09 n S 189.87 n Data sane s MLS 8 Assessment Records MLS 8 Assessment RecoMs MLS & Assessment Records ver7xatton sort s Assessment Records Assessment Records Assessment Records VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION .1~ s DESCRYrIDN ~ s DESCRIPTION . ~ z sale a Firunring Cash equivalent Cash equivalent Cash equivalent Corcessbra None krwwn Ntxle kntwm None known Dale d SaWrbre BBD/2009 10/9/2009 7/10/2008 -30 000 Laation SuburbaN VG SuburbaN VG SulwdlaN Fxc -75 000 SuburbaN VG lxsehdNFee s k Fee Sim le Fee Sim le Fee b Fee Si le ske 3.7 acres 1.35 acre 25 DDO D.62 alxe 35 000 0.99 acre 30 000 vaaa Ve Good V Good Ve Good V Good 5 Cont 2 St / VG Cork 2 S I Exe -5D 000 Cork 2 S I Exc -50 000 Cant 2 Sto Bcc -50 000 pw' d Consrnrd'on Ve Good Ve Good Excellent - -50 000 Excellent -50 000 AcWai 6+/-Years New -25 000 5 +/- Years 8 +/-Years Canditkn Good Fxcelkint -15000 Good Good Above Grade IdY eak Td/ ertla TdY Beae Tat aaaa Gala Room Court 12 5 4.5 11 5 4.5 12 5 5.5 -10 000 11 4 4.5 Gross Ard5D.D0 5 958 . n 4549 . n 70 500 4 920 . h. 51 800 4 977 s . h. 49 100 aasemea s FkdsMd Full Basement Full Basement Full Basement Full Basement Roams Bebw Grade Roc Rm K~tte Ba Unfinished 25 000 Unfinished 25 OOD Similar Frnmioml tAS' Good Good Good Good Nee( GasFA! CA GasFA/ CA GasFAI CA GasFA/ CA E ERCka Hems T ical for a e T kal for a T I fw a e T inl for a e Gar 4-Car Gar/ Att 3-Car Gar/ Att 1 D 000 3-Car Gar/ Atl 1 D 000 4-Car Gar/ Att 1 D 000 PorWPNiolDttk Patios Porch Similar Similar Similar Miscellaneous 4 fire ces 3 fire aces 5 000 2 fire laces 10 000 3 fire aces 5 000 Miscellaneous In round Pool None 25 000 None 25 D00 Media Room Net s 70500 . s 28 100 s 35 900 AdjiBted Sale lake Nd AdJ 8.4x Net Ad} -3.Ox Na AdJ. -3.8x d Can bks Gros 30.Ox s 806 792 Gross 38.0% f 921 900 Gross 23.7% f 909 100 1 MO tlid rot resardi Me sale a homier Idslay d the s~ject gWmY and comparable asks. Y nd, rxgsk research Mtl did na reveei a sales v trawlers d the to the tlree rs ro the etlecBVe date d tlia bal. Dale souru s MLS and coon assessment records M researdr Oitl X dd not reveal a sales a tramles d the tom ble sales fa the x ro Bk date d sale d tlk bk sale. Data sea s MLS and coon assessment records Re dis residls d the resesrdr antl aro d dre sale a trandn ' d the sub' ant c bb sobs edd'alerrN sYes On 3 . ITEM SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.7 Dale d prior sddTramler None within ast three None within ritN ear of None within dor ear of None within da ear of Price d Pdor SeWTrsnsrer ears. above sale date. above sale date. abrne sale date. oak sours s Assessment Records Assessment Records Assessment Recrds Assessment Records EilRweoakdoata s Februa 25 2010 Fetxua 25 2010 Februa 25 201D Felxua 25 2010 Analysis d filer sale a transfer h'slay d the subject property and tbriparebk uks Research did not reveal a transfer of the sub ed ro for at least 3 ears rbr to the eftedllre date tN this a reisal. Research did not reveal an a sale s or transfers of the tbm arable sales for the ear br to the date of sale stated on this re rt Summery d sales Comparison Apgoacn. Alter a ttlorou h search of all available market data the three sales used are considered to be the best indicators of value. In order to find tom reble sales it was ntsce to use less recent sales. Sale No. 3 raccured under better market conditions so an a ro date ad'ustrnent has been made. After consideration of all relevant factors the tom ambles used are the best indicators of value atthou h the era afi kswer in dce than the final value estimated for the sub'ect Coro arable Sale No. 1 is considered the best indicator of value and is we Mad more heavi than Com ambles No. 2 or No. 3. Deli n ad'ustments are made to all sales based u MLS interior bolos. Com reMe sales used are dosed sales. hdicated VWe Sales Com xeon aed~ S 910 ODO Indketetl Value Saks G rlsae each f 910 000 Cost A h it tleval S NA Intone wch M Bevel s NA This apprarsd is made 'as "s; subject to wnpkdal per pons and specificetiom on Me Dash d e hypothNkal condikn that Me imprwemems have been completed. Q subject ro Me foAowhg repaks a aperatrons on the bests d a hypahetkel ctatrtdm Met the repehs a dternbm have been compkbd, a ^ subject to the Idlowkg requhed Inspection based on the eatraordawry assumq'an krat krt cordtion a derxknry tloes na require akeratbn a repeF. Based on a complete visual inspection of the In[erbr and esterior areas of Me suaJeet property, darned scope or work, statemern a! essumpdons end limhiny conditlons, end appraiser's certRiCetbn, my IoW) opinion m the market value, es tlenrxd of [he reel property [hat Is [ha subject of this report Is a 91 D•DDD as d FBbNa 12 2010 , whkh is ur: date d er on ant dre nReaNe dare d ads a Taal. mature.. Pgtal6 .,a, ~..u.em. .-.....~._... -.. __-.~ IY01 OS000i Mark Heckman Real Estate Appraiser: Mark Heckman Real Estate Appraisers Uniform Residential Appraisal Report FSeNa. aAlPxandria Provide k Ydormetion la the krdedcFxd b the bebv arosl s entl takaeatbits. Support for the op'aaon of site value (wminary d comparable lend sales ar od>er methods far estinrat'eg she vaYc) ESTIIMTED REPRDDUCTgN OR REPLACEMENT CAST NEW Sarre d cost data fmn cost service EIIeUIve date of cost dsla OPMJION OF SrfE VALUE .................................. 5 956 FL W S ...... Bsmt: 3000 . Ft FL ! S ...... ...... - S ...... • 2 ...... - f 0 0 Commeds on Cost s area calnrktlorts, xwi' etc. .Ft.~S ...... Taal Fstenate of Cosf-New ...... Less led ~ Fundlorral Edemal De eclatbn De Coal d I .......................... ....... S ....... f - S ....... f 0 0 0 'AS•is' VaWe of see ds .......................... ...... - S Estimated Remi ' Ermdnic Ufe UO aM VA oN 4fi Years INDICATED VALUE BY COST APPROACH ................... ~dA~ ~. ~. Estimated NWed Red f X Gross Red M ' ear - i Ind'reled VaWe XCINfR txch ... - f - NA ~. Summary d Income Approach (including support for market red and GRh1) h the ~ in comd of dre Homaovmers' Assodatbn 7 Yes No Une s Detached Attached ~ ~ ~ - Provide tla ~ iNOrrnation for PUDS ONLY f tlrc deveb Ibiilder is ti ronod d the HOA and the soh t o rs en atlxhed one. name of Tdd amber of ses tool rarrtaer of ants Tdd rumber d ores sold Total number of ants rereetl Total rarmbc d unbs for sale Data source s Wes the sealed da! comMSion d an wW bu s into a PUD7 Yes No N Yes, dale d mrnerskru Does 1M ruraaN a ants? Yes Ne Data sour s Are the arils, common denntts, and na~redon facYnes campkte? Yes No a No, describe iM status or canpklion. Are de common ekmeds leased to w by the Homewniers' Assodation7 Yes No d Yes, describe the rental terms ano optiom. Describe common elements and recreational racWks. mmviJMarasaraa013NJRIIF-tlMO~ •-~v ~.m r.~.. e......... Papad6 rov~amar Mark Heckman Real Estate Appraisers unirorm )zeslaenual Hppralsal Keport Fk rro. aAlexandrta 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 wnditions, and certificalbns. Modificetions, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limting conditbns are not permitted. The appraiser may expand the scope of work to include any additional research or anaysis necessary based on the complexity of this appraisal assignment Modficetbns or deletions fo the certificatlons are also not permitted. However, additional certifiratans that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's contlnufng educatron or membership in an appraisal organ'vation, 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, inducting the following definition of market value, statement of assumptons and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterbr 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/Gient to evaluate the property that is the subject of this appraisal for a mortgage finance Vansaction. INTENDED USER: The. intended user of this appraisal report is the lendeddlent - DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditlons requisite to a fair sale, the buyer and seller, each ailing prudentty, knowledgeabty and assuming the price is not affected by undue stimulus. Impliclt in this definition is the consummation of a sale as of a specified dale and the passing of title from seller to buyer under corxtitions whereby: (t) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each ailing in what ire or she considers his or her own best interest; (3) a reasonable tlme is allowed for exposure in the open market; (4) payment is made in terms of cash in U. 5. dollars or in terms of finandal arrangements compareble thereto; and (5) the price represents the normal consideration Tor the property sold unaffected by specal or creative financing or sales concessbns' granted by anyone associated with the sale. 'Adjustments to the comparebles must be made for special or creative finandng or sales concessions. No adjustments are necessary for those costs which are nonnalty paid by sellers as a resutl of tradition or law in a market area; these costs are readity identifiable since the seller pays these costs in virtualty all sales fransaclions. Special or creative financing adjustments can be made to the comparable property by comparisons to finandng temis offered by a third party institutional lender that Is not already involved in the property or transaction. Arty adjustment stwuld not tx calculated on a mechanicel dollar for dollar cost of the financing or concession but the dolar amount of any adjustment should approximate the markets reaction to the finandng or concess'ans based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDRIONS: 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 tte 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 arty 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 Agenry (or other data sources) and has noted in this appraisal report whether arty portion of the subject site is located in an identified Specal Flood Hazard Area. Because the appraiser Is nil 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 conddions (such as needed repairs, deterioation, the presence of hazardous wastes, toxic substances, etc.) otrserved during the inspection of the subject properly or that he or she became aware of during the research involved in pertomxng this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical defidendes or adverse cond'Rions of the property (such as, but not limfted to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental condttons, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarentees 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 perfomred in a professional manner. roolm o®r Mark Heckman Real Estate Appraisers Uniform Residential Appraisal Report r11eNO. 4Alexandria APPRAISER'S CERTIFICATION: The Appraiser certfies 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 deficiendes 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 Professonal 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 deveoped my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparebk market data to deveop 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 researdhed, verified, anayzed, and reported on any wrtent agreement for sale 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 properly for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I 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 d the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationalry, physicalty, and fundionaly 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 wilt be built on the land, 9. t have reported adjustments to the comparable sales that reflect the markeCs reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all iMormation in this report that was provided by parties who have a financtal interest in the sale or finandng of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 72. 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 krcated. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appreisal report from reliable sources that I believe to be true and corned. 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 condtons (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, ale.) observed during the inspection oT 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 analysts of the property value, and have reported on the effect of the conditions on the value and marketability of the subject ProPert1'• 15. I have nd 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 anaysis, opinions, and conclusons, which are subject onty to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest fn the property that is the subject of this report, and I have no present or prospective personal interest or bias with rasped to the participants In the Vansadion. I did not base, either partialy or completely, my anaysis and/or opinion of market value in this appreisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of elther the prospective owners or occupants of the subject properly or of the present owners or occupants of the properties in the vicinity of the subject property or on arty other basis prohibited by law. 16. My empbyment and/or compensatbn for performing this appraisal or any future or antidpaled appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present anaysis 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 specttk result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). t B. I personalty prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. tf I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disdased the spedfic tasks performed in this appraisal report I certify that any individual so named is qualHied to perform the tasks. I have not authorized anyone to make a change to any item In this appreisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it 20. I identified the lender/dient in this appraisal report who is [he individual, organization, or agent for the organization that ordered and will receive this appraisal report. Mark Heckman Reai Estate Appraisers Uniform Residential Appraisal Report rtle NO.4Alexandria 21. The lender/Giant may discbse 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; govemment sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organfutfons; 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 appreisers (if appliceble) consent. Such consent must be obtained before this appraisal report may be disdosed 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 Prectice that pertain to disclosure or dlstributbn by me. 23. The lxxrower, another lender at the request of the borower, the mortgagee or its successors and assigns, mortgage insurers, govemment sponsored enterprises, and other secondary market participants may rety on this appraisal report as part of any mortgage finance transaction that involves arty 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 appiirabk federel and/or stale laws (excluding audio and video recordings), or a facsimile trensmissron of this appraisal report containing a coPY or representation of my signature, the appraisal report shall be as etfedive, 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 dull liability and/or criminal penaHies inducting, but not limited to, fine or imprisonment or both under the provisions of TRle 1 a, United Stales Code, Section 1007, a;seq., or sim6ar stale laws. SUPERVISORY APPRAISF~YS CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I direly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's anaysis, opinions, statements, conclusions, and the appraisers cert~cetion. 2 I accept full responsibility Tor the contents of this appraisal report inducting, but rrot limted to, the appreisers anaysis, opinions, statements, conclusions, and the appraisers certification. 3. The appraiser identified in this appraisal report is either asub-contractor or an employee of the supervisory appraiser (or the appraisal finny, 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 try the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. ff this appraisal report was transmitted as an 'electronic record' containing my "electronic signature,' as those terms are defined inapplicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmissron of this appraisal report containing a copy or representatbn of rtry signature, the appraisal report shall 6e as effective, enforceable and valid as if a paper version of this appreisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature ~"'~--" ~~ Name Ma W. Hedmran Certified General Apprefser Company Name Mark Heckman Real Estate Appraisers Company Address 1309 &idpe Street New Cumberland. PA 1707D Telephone Number (717) 774-7202 Email Address hedcmanaPDreisers(8lcomcast.net Date of Signature and Report 02!2512010 Elfeclive Date of Appraisal February 12 2010 State Certification # GA-0006673-L or State License # or Other (describe) State # State PA Expiration Date of Certifxation or License June 30, 2011 Name _ - Company Name Company Address Telephone Number Email Address Date of Signature State Certificatbn # or State License # State Expiraton Date of Certificatbn or License ADDRESS OF PROPERTY APPRAISED 4 Alexandria Court Mechanirsburo. PA 17050 APPRAISED VALUE OF SUBJECT PROPERTY E 910.000 LENDER/CLIENT Name Company Name Anderson, John/ She(la Company Address 4 Alexandria Court Mechanicsburg PA 17050 Email Address SUBJECT PROPERTY ^ Did not inspect subject property D Did inspect exteror of subject property from street Date of Inspecton ^ Did inspect infector and exterior of subject property Date of Inspection COMPARABLE SALES ^ Did not inspect exterior of comparable sales from street ^ Did inspect exterior of comparable sales from street Date of Inspection T~I~.i::;': { Mark Heckman Real Estate Appraisers ADDENDUM Borrower NA Flle No.: 4 Alexandria ProoeAV Addmre~ 4 AkxaMrie Cost Csse No CM' AAertlenlGC1#G State PA Zb' 77050 Lsntler Anderson, Jo1vV SheAa Neighborhood Boundsrfes The subject property is located in Silver Spring Townahipwhich is considered to be the boundary d the neighborhood. To locate the best compereDles available the appraiser may have to extend search parameters to similar neighborhoods within the market area. Neighborhood AAarket Condftlons The kx~l housing market Ms weakened wltitin the pest 1 B months. New construction activity has slowed considerably, and the rate of sale of existing homes has diminished aubstanfially from the previous 18 months. Also, the volume of homes for sale has drsmaticaly increased rosuMing in preswro on sak prices. Seller concessions are very often necessary to entice buyers in this slow market. Properties in higher price ranges have been more severey impacted, and sale prices have been stagnant a even decreasing in some instances. Additional Features Three gas fireplaces; exterior walls are stone on all sides; nino-foot ceilings on Level One; vaulted ceiling in family room; arMnsive twilf-in cabinetry; second kkchen near family room is used as a bar, main and rear staircases; stone fireplace in living room; frvo-zorro heating and air eonditioninp systems; dual hot water heaters; basement has large recreatbn room, kitcfienette, and full bath; security system; inyround Mated swimming pool; dreular driveway. AedrrWn PWe i or t SUBJECT PROPERTY PHOTO ADDENDUM -a..+.-- I _ _. If s 4 -, h ~' a tl+ ,. t~:>~ _.> +' ,~ ~. _ n l .-~~ t' ~~~ fi ^ t ~ k s. 9 H yea P M ~,k ] ~ .. k I i ~~~~ ~ .^,Z .f a. _ ~ V :',1~ r: ~.~. FRONT VIEW OF SUBJECT PROPERTY pate: February 12, 2010 Apprake~ Value: S 910,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Mark Heckman Real Estate Appraisers Borrower: NA File No.: a Alexandria Address: a Alexandria Court Case No.: Ci[y: Mechanicsburg SL• PA Zip: 17050 Lender: Anderson, JohN Sheila Garage Swimming Pool Living Room Mark Heckman Real Estate Appraisers Dining Room IC~tchen Family Room Mark Heckman Real Estate Appraisers Borrower: NA File No.: 4 Alexandria Addfe55: 4 Alexandria Court Case No.: CAV: MecAanicsbum 5[: PA LD: 17050 Lender: Anderson, John! Sheila Auxiliary Kitchenl Bar Breakfast Area Sun Room Mark Heckman Real Estate Appreisers Borrower: NA File No.: a Alexandria Address: 4 Alexandria Court Case No.: CiN' Merhaniraburg SL• PA Z10: 17050 Lender: Anderson Johnl Sheila Dining Room Kdrlren Family Room Mark Heckman Real Estate Appraisers Level One Master Bedroom Master Bath Foyer! Main Staircase Mark Heckman Real Estate Appraisers Level Two Bedroom Level Two Siding Room Level Two Bath COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: IJA File No.: 4 Alexandria Address: a Alexandria Court Case No.: Cin/' Mechan'KSburg St PA ZID: 17DSD Lender: Anderson JohN Sheila COMPARABLE SALE#1 1 Lynchburg Court Mechanicsburg Sale Date: 6/3 012 0 0 9 Sale Price: f 836,292 COMPARABLE SALE#2 50D7 Pellingham Circe Enola Sale Date: 1 D/6/2009 Sale Price: S 950,000 COMPARABLE SALE #3 1916 Monterey Ddve Mechanicsburg Sale Date: 7/1 D/2009 Sale Price: S 945,D00 PLAT MAP LOCATION MAP Bortower: NA File No.: 4 Alexandria Property Address• 4 Alexandria Court Case No.: CiIY' MerhanicSbura State: PA Lo: 17050 Lender: Anderson JohN Sheila • ~yr ~~ T~R k ,'.~~ a r. `k,~~'K' dy~ *~+~'fy`°y{ ys ~ ~ i . o-'kti ~y Y~ • "S9E ~4'r~i' ''~ ~ ( ~ Y~ • ~ + ~a~ ~ ~ ~'C~ ': q k ~ ~ ~ r 's ~ +A Ash ~A - 5 d ~ K '~ r ~_ 4 \ t ~t~~ Re^ C~ T.RkRkY R ~.~ ~ ~ Y Z.~~.c~ q~~ v~k 4 r S 'nom ~ ~~ k ~ . ~~. ~ ~ -0 ~ '. :.h ~ ~ ~ z rno M L 2 r+ ~• ws F e k ~ i C 4 L y. 1 ~Y ~` ~ y ) yf ~§m ;1N t~4~ k~x 2; ~ 1~ 1~ } -• .. ~L ! ~ • 0 YY N 4 L~'4.:. ~' 4 ~ ~i ~ ~~ ~ ~ # ~ ^. k .k 11 R R Y {y ^ ~y ^lt" "''"p M1(x "'1"S "; r `' ;' ~~N 1 AS ~ - ~ ~ ~ L Sale 3 ~ ,> ~~ , { r u ~. ~ ~ k ~.~~ ~;:•. ~>~ , L . i t'~Y 1 `Y~ ~ P d'! J f< fq s!5t y ~d Lj. fi "'~: i &~ y V "l t~J;r}~Sk ! ~.t 4~' 4 V 54 • i fiS F } sjo ~ ~+'u. ~ a ~ ~ ~ ` '!`i 'Q ` ~~ g99 ,}y ~~ ~ ~ ' ~ ` v yd } ts.~ ~ A~' 2 RR 1y ~ v~ 3. z { ~ r.. 77 , 4 r~ .. .. ~ a ~' 4 '~ h ~t~b~ eat z ~' ii' a ~. - - ~ ~. .:' d % T... . ~~ ~~a ~ ~,,,„. . ,. `. ~;. . ;1 k R. m~ R'}DOapeLams Ss.x~.us~e!?em., i,«(a~.a+J'i/ www.eebmm~ o.bzoaFi+ra PM (77!)//4/ZUL Y/Vl (!7/)//~-V363 cnwa neacrnanappFnFSm s{gwnn:aau ¢aR APPRAISAL OF REAL PROPERTY LOCATED AT: 4 Alexandria Ct Referenced in Deed Book 260 Page 2093 Mechanicsburg, PA 17050-8224 FOR: Estate of Anne Anderson AS OF: 02/08/2010 BY: Vincent Minnici Form GAi_LTR -'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE Ymcent Minici P.O. 8oz 6873 Harrisburg, PA 17112 02I09l2010 Estate of Anne Anderson Re: Property: 4 Abxandrb IX Merharvmburg, PA 17050-8224 Borrower. Estate of Anna Anderson Ftle No.: 1002017 In accordance wtth your request, we have appreised the above referenced property. The report of that aPPreisal is atlaehed. The purpose of tlvs appraisal b to estimate the market value of the property described in ttWs apprebal report, as improved, in unencumbered fee simpb title of ownership. This report b based on a ptrysiral analysis of the site end improvements, a bcatbnal anaysis of the neighbortaod and city, and an ecoramic areysis of the market for properties such as the subject. The appraisal was devebped and the report was prepared in accordance vrifh the Uriform Standards of Professional Appraisal Prem. The value corwlusbrls reported are es of the effective date stated kr the body of the report and contingent upon the Certification and imtting cordi8ore attached. tt has been a pbasure to assist you. Please do rat heakate to CoMap me a arty of my staff it vre can be of edddionel service to you. Sincerey, vinceM~M'xrMa~- "~: RL001747L, FHAq PARL001747L Residential Appraiser SUMMARY OF SALIENT FEATURES Subject Address 4 Alexandria Ct Legal Descdplbrl Referenced in Deed Book 280 Pegs 2093 City Medrarucsburg Cpmry Cumberland Stets PA LDCode 17050-8224 Census Tract 0118.01 Map Rderera~a 25420 Sab Pdce Z WA Dab of Sab WA Barower/Clert Estate of Anna Anderson (. Estate of Anne Anderson Siu (Square Feet) 5,884 Price per Squae Fact S Lceation BuburbanlGd. Ape a YeaB Condition Good ToblRoams 13 8edreans 5 B7tlla 4.5 Appraiser Vincent Minnici Dab of Apprebad Vella 02I08l2010 RnalEstimaboiVahe = 1,100,000 Ftam SSD -'WNnTOfAL• appraisal software by a b mode, inc. -1.80PAIAMODE Yncem Mirsdd Un'rfomt Residential Aoordisal Report EstateotAnneAnderson ca.w tnmm~ Th d this rf Is to rovMe tla brda/derA with an acpaate, and s Irion d 1M market vaW d 8a sub' Addfaa 4 Abrwndrie G C' Medwnicabu Stale PA L Code 17050-8224 Borroxw Fatale of Anna Anderoon Owrer d Pulrc Record Anne Anderson Cou Cumberland ro h D Book 260 Pa 2093 Assessor's PrcN! 38.07-0487-715 Tax Year 2008 R.E. Taxes S~ 9500.00 Name Ha ' Fa s lie Relererce 25420 Cax;us Tmd 11 .01 d Dwrwr Tenad Vaanl S lal Assessmerts S 0.00 PIID HOA S 350 rmdh Fee Leasehold Dtlwr dasatha T Petite Trsmaction Relnaee Tremaction Odw;r describe Market Value Lender led Anderson Address Is the oflaed la 58b a has h been oflersd fa ab b the twelve ngrNt to the effective date d this a sisal? Yes No OW 8erace 8 used s and dab s . Cersral Penn MLS I ^ rd ^ rd not arayce the catatt to ab for the arbbct pachase bartactiar. Ex,rbin the resWLS d dt analysis d the cartiract fa sale a why the aaysis was not armed. WA Cort'acl Price S WA D~ d Catad WA b the seder rite owner of recall? Yes No Dale Sources WA b tltte any f Wrcbl ass{smra (bmr daryes, sale carsssiora, pill a downpaymwd assistance. etc.) to be paid by any paty on balraR of the barower? ^ Yes ^ No M Yea tlt toMl data amoum and describe tlt Ibnt to be id. WA Nola: Rw and the radal pow d the are not factors. Location lhban Suburban Rtsal Yakres kwroa Stabb Devi PRIf2 AGE lke-Unq 00 % Ova 75% 25.75% Ithder 25% Denw14r5 Shp h Babnce Over S S rs 2.4 Urit 2 % Groalh Stabb Sbw Martel Time IAda 3 mris 3-6 mlt Ova 8 mths 350 Low 0 Multi-Fa 3 % Bwdabs Route 944 to the rorttt Inerstata 81 to the west Interstate 76 to [he south & 1500 20 Camracial 5 % Route 11 ro the east. B00 Pred. 5 lMha VAC30 % The su ' is bce[ed h a residerttial r>a hborhood weh mos si le-tam' detadrad Lames similar h e and a I. r routes Of travel located within reasonable dielance hGude Route 11 and Interstate B7 . Em erd for the area is a whh ro adverse cartd8iorw to note. Midtl Condibm lathe above carckrsiom Market conditions a r stable for this ikne of r. Market' dme for reasonable rked Iaus is wlhh 3 to 6 matths. Sales cortcessiorar ere evident h most trartsadions and are ical of the common sales. Pr valrres a err to be stable. Dimatlons I ' n Not Provided Area 3.7 Acre She a Reds ular New Ave e lmi CbsallcationR Desc' tbn Resitlential I L Nanceri atltred Use ND Zod 1 d describe b tlt and beat use d sub t as' a as m and atom the mserl use? Yes No tl No, describe INIWn Pu611e n1Aar daerihs Publk ltpw tleserthe ON-aaakn mvemada-T Pubic Private Elecel waver skeet Ae has Gas 58 ' Sewer None FEMA flood Ilaad Area Yes No FEMA Fbad Zort X FflAA M N 42041 C0252E FEMA Dab 3/76/2009 Ara It urltlesand ofl-slb for tlt markM era? Yes No l No descrbe Are lore adverse sle wridNals a e ferias asemeds, ercroacMtrds, emiroanadal catrtbm, land uses, ek. ? Yes No I Yes, describe this Oro One will Aaess Ikr Conaete Sbb Crawl S ce FouMation Wks PourodConcrete/Gd. Fbas Wd C t TilelGd. I d Staies 2 Fir Besemal Partial Basartd Exbrior Wall Stone/Gd. Wals D WGd. T DeL Atl S-DBtJEM UNI Baselneld ka 3524 .ft. Rcof Surface Com Sh' le/Gd. TdrNRrish W oodlGd. Ullda Reserved RHah 30 % Gulers 8 uls Alumhum/Gel. Bath Fba Tile/Gd. 2 St Outside IHdI wsxbw T V bIH Gd. Bath Wabtcd fibs lass/Gd. Yesr 8uil 2004 Evidenced Ideslation Sbnn S TftermaNVrds/Gd. Ca Store None EflecBre rs 2 Year Da Settlemem Scream YeslGd. Drivaw I d Cars a Altlc Nom Hatl FWA HWBB Rallied AmeriYes Woodslae s 8 Drivawa Surfers As hen ~o Stair Storks Other Full Gas R a M 4 frence Gera k of Cars 4 Roor Scuttle C Central Ak Conditlo PatlolDeck Perch Screened Ca S d Cars Rrashed Haled YdNidual Olin Pad Otltr Atl DeL Built-in lances en Dishwasher Dis Mkrowave Washer Oltr deccibe Rdsltd area sbon ardaim: 13 Rowm 5 Bedrooms 4.5 Bari s 5884 uare (reef d Gross Livi Area Above Crada Addtalal tahaes are dficiaa ibnt eb. , Thermal erne W irdows 4 Fire ces Describe lie condition d the i reedad irs dalerlorslion rertvatlons remodel etc.. There was ro turatbnai obsolesce indicated from the sub'ed a ins bn. The roof a ra to be in condition. P ical deterioration is ical of the sub ell a8edive a Are there a I deilcbrcbs a adverse terdltions that afled the Fabi , soudness or sWChral iM d tlt ? Yes No I Yes, describe Does the cordOrm to lie boyhood nctiorel uti rsnrtion use mmtnr etc. ? Ym fW tl No describe Freddb Mac Form 70 March 2005 Papa 1 of 6 Fannie Mae Forth 1004 March 2D05 frerm 11p4 -'wmTOTAL' appraisal sollware by a b mode, Inc. -1.804ALAMODE Un'rfotm Residential Aunrdisai Report ~,, Esnutn'o~f Anne Anderson Thee are 5 Than are t8 Sales b tlw sub FEATURE SUBJECT Address 4 Abtmndria Cl Msdrerdcab PA 17050-8224 Prod b Sob Prke S W Sala Prite/~Oea LW. Area f .it DabSaace VerMlcaBm a VAWE ADJUSTMENTS OESCRP110N dfaed fa sob b 1M wlian to twelve mon COMPARABLE SALE ! 1 12 Bridgeport Dave Mocha ' PA 17050 2. E S 870000 f 180.81 .tL MLS#t0181412 r.Fba Pubic R rd DESCRPTpN + - S Ad' b hom f 750 000 8w b sob Ilan i 41000 COMPARABLE SALE #I 2 1805 Ef¢a Way Medarticsb PA 17050 4.47 mi a NE S 1 145000 i 5.57 K. MLSk10167332 r.Fiea DESCRFFION + - f Ad' shred b f t 000 000 0 b f 7 145 000 COMPARABLE SALE Ar 3 1 Lynchburg Ct Mechanicsbu 0.40 miles NW S 836 292 S 183.84 .B. MLS#10173672 r.Files Public Record DESORPTION + - S Ad' Saba a flrarrckrp COIICe98terIS Dab d SabVFkne Corn. DOM 13 No Seger Hal 10/0820D9 Com. DOM 134 No Seller Hel Cores. DOM 0 No Seller Hal 06!30/2009 laadiar SububeNGd. SuburbaNGd. SuburbeNl3d. SuburbaNGd. leeselloldlFee Fee Skn b Fee Sim Fee Sim F Sim b Ske 3.7 Acre .B7 Acre +43 000 1.07 Acre +39 000 1.35 Acre +35 000 View A Ave Ave a Avero e d COMkutiDn 2 St Sforo/Gd. 2 St Stuc Sfone/Gd. 2 Sto Slone/Gd. 2 Sto Brick V' Gd. +5 000 ANd 6 Yeare 14 Years +4 000 New -10000 New -10000 CoMBon Good Good Goo d Abore firede ToW Bime. Batla ioW Bdme. Batla TdN Berme. gala Taal Bdrms. Bahl Ream Court 1 5 4.5 1 5 3.5 +3 000 9 4 4.5 11 5 4.5 GIOaS Lhi Nee 5 884 .R. 4 245 .h. +62 000 5 078 s .ri +40 400 4549 .h. +66 800 Ilttarrwrl d Flraahed Reons Bebw Brads Redioom,BUt 100% / 30% Ktch,Rsd2m,B 100% / 50% -5,000 RecRoom,Bth 100% / 30% Unfinished 100%! 0% +15,000 Faaional A Ave a Ave a Avere e Elfiefrikarrs GFWAICAC ThertnaANrda GFWAJCAC rmalWnds GFWAICAC ThermaNVnda GFWA/CAC 7hermalYVrds a PadvPaiaDxk 4 Car Ga e Scree Porch 3 Car G e Deck +5 000 +1 000 3 Car Ga a Dsck +5 000 +1 000 3 Car Gars a Patio +5 000 OBar 4 Fire Pod Fence 2 Fire laces Poo Fence +4 000 Fire ce None +B 000 +10 OOD 3 Rre laces None +2 000 +10000 Nat Ad' skrrwd Adjusted Sob Price d C ebbs I did did nd research he sob a kansler Id + - Net Adj. 16.9 % Gross 18.1 X s! d the w S 137 000 S 947 000 and b + - Net Ad6 8.0 % Gross Ad'. 9.7 % b sales. B ro4 S 91 400 S 1238 a00 + - Nat Adj• 15.4 % Gross Ad'. 17.8 X f 128 800 S 965 092 research did dk nd revel r sobs a baratere d the fa 8a dree to 8a elfacire dab d Ws isai. DW Sources Public Record research did dd nd reseal ' r sales a kamisre d the de sales fa the ear h da date d sob d the co arebb sob. Dab Soave a Pubic Record R the results d the research and FfEM a sis d the 'or sob or karrsla N d the wb' and c SUBJECT COMPARABLE SALE it arabb sobs addkional ri COMPARABLE SALE te2 a sales on 3 . COMPARABLE SALE N3 Dab d Rio remlw far in Last No Trensfer n Last No Trerrefar h Last Na Transfer h Lest Prfce d Rio SSWTrensla 36 Months 12 Months 12 Months 12 Months Dab Sources Efbctlve Dab d Dab Sources Publk R 02105/2010 Public Record 02/05/2010 Public Record 02/05/2010 Public Rewrd 02/05/2070 sis d sob a transfx ' d the sub' and co rebb sobs There are ro ' r salsa or trorrsfers of the ub'ed within 38 months and ro transfers d the com arobbs within 12 months. Summa d Sobs son ch Com arebba are similar in and a I and were Bra best available at ttte time of the a isal. Com bhs are aB bested in a simBar market area as the sub ed and were drown from a 5 mib radius and 12 month time frame due to the lade of mm re s simlar ins ~re cheer to the sub'ed. A 5lUs uare foot ad'ustmem was made to com arebles. There were ra com arebba with the same bt sae as ttre sub'ed. kldlaabd Value Sobs C son ach S 1 100 000 bdkrehd YMue .Saba Com roach f 1 100 000 Coat (B d S N/A Incanw arch (N S NIA The Sales Com rison roach to Value snare indicates the best value for the aub'ed re .The Cost roach and the Income ch was considered but is rata riate for this a sisal. TNs aDDrefsal iS made ®'as Is`, ^ subject b compe8on per pans ant spedfiraaom on the bash d a trypotlatlcal condifon tlat fro Improvements have been compbled, ^ subject to des fofowbp repairs a akerafom on the basis of a hypolhadcal cadltlon that ih repairs a a8xa8ore have been completed, or ^ subject b the rigid Ins based on the adreadm ass that the coMNon a deco does rot rite aferatbn or k: No airs wired. This a sisal b rat void wklaul all d the ahadred addenda. Based on a wmpbh rkwal baaectlon d tla IrMedor nd aabrbr uap d the subject pro~pertBv,~edetlned swpe of wok, ahbmem of aaumptlma ant IimRing Scorditlone,~ appn~e betlorr, 0 Oaur) opMdwhkh b the doh duinsa and the aNecU a data o ~b the subjeel d tlrla report b Fretltlb Mat Forth 70 March 2D05 Pape 2 of 6 Fannie Mae Form 1004 March 2005 Fam 1009 - WYmTOTAL' appraisal software Dy a b mode, inc. -1-B04ALAMDDE Form 1084 - MrmTOTAL' appnisel soMrvare by a b rtade, crc. -1-BOo-ALAaaODE Freddie Mac Form 70 March 2005 Page 3 of 6 Fannie Mae Form 1004 March 2005 UtiRORiI F{13SIa@11U81 Appl"dIS81 K@DOCC ca.a ~nn~m~ - _ -~~ This report form is designed to report anappraisal w aone-untt property or a one-unit property with an accessory anti; including a anti in a planned anti development (PUD). This report form is not designed to report an appraisal w a manufactured home w a anti in a condominium or cooperative project This appraisal report is subject to the following scope of work, Intended use, intended user, definition w market value, statement w assumptions and Ilmitlng condttions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and Iimftlnp conditions are nor permitted. The appraiser may expand the scope w work to include any addiional research w analysis necessary based on the complexity w this appraisal assignment. Modifications or deletions to the cert'dications are also nor pennkted. However, additional certifications that do nor constitute malarial alterations to this appraisal report, such as those required by law or those related to the appraisers continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope d work for this appraisal is defined by the complexity w this appraisal assignment and the reporting requirements of this appraisal report form, including the folowing definition w market value, statement w assurrfptbns and limiting condtfons, and certifications. The appraiser must, at a minimum: (1) pertonn a complete visual Inspection w the iMedor and exterbr areas of the subject property, (2) Inspect the neighbofiood, (3) inspect each w 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 apprelsal report. INTENDED USE: The intended use w this appraisal report is for the lender/client to evaluate the property that is the subject w this appraisal for a mortgage finance transaction. INTENDED USER: The intended user w this appraisal report is the lender/client. DEFlNITION OF MARKET VALUE: The most probable price which a property should bdng in a competitive and open market under all conditons requiske to a fair sate, the buyer and seller, each acting prudentty, knowledgeably and assuming the price is not affected by undue stimulus. Implick in this defin'd'an is the consummation w a sale as w a specified date and the passing w tike from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well iMonned or well advised, and each acting in what he or she considers his or her awn best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms w cash fn U. S. ddlars or in temu of financial arrangements comparable thereto; and (5) the pdce represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated wkh the sale. *Adjustments to the comparebles must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normalty paid by sellers as a resuk of tradition or law in a market area; these costs are readity identifiable since the seller pays these costs in virtualty 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 nor already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dolar cost w the financing w concession but the dollar amount w any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMRING CONDITIONS: The appraiser's ceNfication in this report is subject to the foilowkfg assumptions and limiting conditions: 1. The appraiser will not be responsible for matters w a legal nature that affect ekher the property being appraised or the tkle to k, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the tkle is good and marketable and will nor 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 Doty to assist the reader in visualizing the property and understanding the appraiser's determination w ks she. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (w other data sources) and has owed in this appraisal report whether any portion w the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no puareMees, express or implied, regarding this determination. 4. The appraiser will not give testimony w 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 owed in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence w hazardous wastes, toxic substances, etc.) observed during the inspection w the subject property or that he or she became aware of durng the research involved in performing the appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge w any hidden or unappareM physical deficiencies or adverse conditions w the property (such as, but nor limked 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 na guarantees or warranties, express or implied. The appraiser will nor 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 nor an expert in the field of environrneMal hazards, this appraisal report must not be considered as an anvironmeMal assessment d 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 pertomred in a professional manner. rrauare mac roan r u marcn zuuo Page 4 of 6 Fannie Mae Form 1004 March 2005 Form 1004-'WhTOTAL' appraisal software by a la mode, Inc.-1.800•ALAMODE unirorm rtesiaentiai appraisal Keport Fwr,-ooZO;;"'"~"~"'~"' 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 pertormed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvemerrts 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 pertonned this appraisal in accordance wiN the requirements of the Unttonn 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 deveoped my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate compazaWe 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 sale 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. I researched, verified, anayzed, 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 locafionally, 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 properly 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 properly. 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 located. 13. I obtained the information, estimates, and opinons famished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct 14. I have taken irdo 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 conditmns (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental condtons, etc.) observed during the inspection of the subject property a that 1 became aware of during the research involved in pertonning this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported an the effect of the conditions on the value and marketabiltty of the subject properly. 15. I have not knowingly withheld any sign'rficant information from this appraisal report and, to the best of my knowledge, all statements and Information in this appraisal report era true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject Doty to the assumptions and limiting conditions in this appraisal report 17. I have no preserd or prospective interest in the property that Is the subject of this report, and I have no preserrt a prospective personal irderest or bias with respect to the participants in the transaction. I did oat base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, ape, marital status, handicap, familial status, or national origin of either the prospective owners or occuparrts of the subject property or of the present owners or occupards of the properfies in the vicinity of the subject property or on arty other basis prohibited by law. 78. MY employmerd ancVor compensafion for pertorming this appraisal or any future or arrticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would repot (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 a occurrence of a specific subsequent evert (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 tt I relied on signtflcant real property appraisal assistance from any individual or individuals in the pertormance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks pertonned in this appraisal report. I tartly 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 I will take no responsibility for tt, 20. I identified the lender/client in this appraisal report who is the individual, organization, or agem for the organization that ordered and will receive this appraisal report. rreaoie mac roan ru marcn zuua Page 5 of 8 Fannie Mae Form tD04 March 2D05 Farm 1004 -'wnTOTAL• appr~sal software try a la mode, Inc. - t-804ALAMOOE unnarm rses)aent)a) 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; govemmenv sponsored enterpdses; other secondary market participants; data collection or reporting services; professional appraisal organaations; any department, agency, or instrumentality of the Unked States; and any state, the Disfict of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's ('d applicable) consent Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limked to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distdbution 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 Un'rfonn 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 ks successors and assigns, mortgage insurers, govemmenv sponsored enterprises, and other secondary market participanvs may rely on this appraisal report as part of any mtatgage finance transaction that involves any one or more of these parties. 24. k 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 convaining a copy or representation of my signature, the apprelsal report shall be as effective, enforceable and valid as 'rf a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any inventionai or negligent misrepresentation(s) contained in this appraisal report may resuk in civil liability and/or criminal penalties including, but not limked to, fine or imprisonmem or both under the provisions of Tdle 18, Unked States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFlCATION: The Supervisory Appraiser certkies 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 cert'dication. 2. I accept full responsibility for the convents of this appraisal report including, but not limked to, the appraiser's analysis, opinions, statements, conclusions, and the appreiser's certification. 3. The appraiser ideMdied in this appraisal report is ekher asub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qual'died to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Unrform 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 trensmked as an •eledronic 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 represenvation of my signature, the appraisal report shall be as effective, enforoeable and valid as "rf a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER V:rceM MFrnici Signature ~~• q Name yifx:ant Company Name Minnici Aooreisal Services Company Address P.O. Box 6873 Harrisburo. PA 17112 Telephone Number 17n)971-less Email Address minreci.aooraisala~comcast.net Date of Signature and Report Febnxirv 13 zoto Effective Date of Appraisal 02109!2010 State Certification # RL001747L or State License # or Other (describe) State # State PA Expiration Date of Certification or License 9/30/2011 ADDRESS OF PROPERTY APPRAISED a Alexandria CI Macharvcsburo. PA 17050.9224 APPRAISED VALUE OF SUBJECT PROPERTY $ 1.100.000 LENDER/CLIENT Name Company Name Company Address Estate or Anne Anderson Email Address SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY ^ Did not inspect subject property ^ Did inspect exterior of subject property from street Date of Inspection ^ Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES ^ Did not inspect exterior of comparable sales from street ^ Did inspect extedor of comparable sales from street Date of Inspection rreaare mac roan ru march zuub Page 6 of 6 Fannie Mae Form 1004 March 2005 Form 11104 - "WpiTOTAL" apprasal software by a o mode, Inc. -1-004AUhgDE Suoolemental Addendum Geu„ ,,,,,.,,,,, B tai Estate o1 Anne Anderson Addross s Ale~mndria a C Mechanicabu C Cumberland State PA iS Code 17050-6224 lade Elate of Ame Anderson SiGVPE VF WORK ADDENDUM The intended users of this report are the Lender/Client only and not for any others. The Scope of Work to complete this report used the Sales Comparison to determine an opinion of Fair Market Value. The Replacement Cost is used only on new construction or properties that are less than 10 years old and the Income Approach is used when the subject is to be a single family rental property. REPORT REFERENCE COMMENTS Every effort has been made to conform to U.S.PA.P. and in most cases even stricter interpretations found common to most investors in the secondary market. Exact'R" value insulation factors could not be determined. Any information stated on the appraisal was provided by the inspection where the insulation was visible, or by the owner or agent of the owner where the insulation was concealed. Heating systems abbreviations used in this report are as follows: The frst letter denotes the fuel used - O = Oil, G = Gas, E = Electric, C = Coal, W =Wood, and D =Duel Fuel. The ned series indicated the type of heat: BB =Baseboard, FWA =Forced Warm AF, HWBB =Hot Water Baseboard, CIB =Cast Iron Baseboard, STM =Steam (radiator or convector), HW =Hot Water (Radiator or Convector), RAD =Radiant (heating elements concealed in the ceiling or floors). AQ Condition: CENT =Central Air, Wall = Built n wall units. Occasbnally, the subject or cpmpareble have special, higher efficiency heating systems: HEAT PUMP = a forced warm air heating system with a conventional backup heating system (usually electric, could be o6 or gas) and central air conditioning. Comparable photos may show listng signs or weather cond'd'rons dtferent then the subject photos. Photos maybe taken from the appraisers data base. All of the sales have been viewed by the appraiser as generally requested by the appraisers Giants. Subject photographs are original photos taken at the time of the property inspection and have not been altered. The digital signature is an original signature that is password protected and is an accepted form of signing an appraisal. SUBJECT PROPERTY NOTATIONS There has not been a title search or survey completed on the subject properly that would confirm or deny any encroachment, easements or deed restrictions on or against the subject property. At the time of the inspection of the subject unless noted kr the appraisal report, none of the items mentioned in the paragraph were v"rattily noticed or apparent. The appraisal a made considering the items not present or having no effect on the overall typical use of the subject as valued in this report. R any of these items are present, the Fair Market Value as determined by this report may be adversely affected. When applicable wilhn the appraisal report, it is assumed, unless noted in the report, that the roof, plumbing, heating, electrical and air conditioning system, wells, septic tanks or cesspool are in satisfactory operating wndtion, that the butd'mg is structurally sound and free of termite infestation and free of termite damage. The appraiser suggests that buyers, lenders end other interested parties obtain certiflcatans from properly qualified professionals for their protection. INCOME APPROACH COMMENTS The Income Approach to Value is considered inappropriate for use n this appraisal report. This is based on the fact that a typical purchaser for the subject property has en interest in the purchase for their primary residence opposed to the concern of the value generated, through investment, from the possble income produced. In additbn, the verifiable information ava8able is not a matter of public record and accuracy is, at best, considered limited in nature. For this reason, although considered, the Income Approach to Value is considered inappropriate for use in this appraisal report. form TAOD -'WInTOTAI' appraisal SoMam by a b mode, irc. -1-866-NAMODE Nncmt Mmlci APPRAISAL AND REPORT IDENTIFICATION Tlde Appnleal Report fa Opa of the tatiowinp types: ^ SeM CoMainsd (A vrrleen report prepared under Standards Rub 2-2(a) , persuaM to the Scope of Work, as dsclosed elsewhere in dds report.) ®Summery (A wrfaen repot pepared under Standards Rule 2-2(b) , parsuaM to the Scope of Work, as drsclosed elsewhere in this report) ^ Restricted Use (A wrfeen report proparod under Standards Rule 2-2(c , perwaM to the Scope of Work, as disclosed elsewhere in this report, resiricbd m the stated irabnded use by the speclDed client a irrbnded user.) Comments on Standards Rule 2-3 I cntgy that b the bast d my krrowbdpe and betiei: -the sbbneds d fad andained fn tlas report are true aril cortecL -the reported arnysas, Widons, and rxrrcbsbns are Imaed Qtly by the reported assurWaons and amilirp condaorrs and are my personal, bparaN, and unbiased prolessianl elnyaee, OpGlble, 8Id CeIlCbei0116. - I have no (a the spectifedt presera a prospective Nrbrest h the property that b the sub)ecl d tiffs repot and ro (a the specified) personal kderest with rasped b the partbs involved. - I larva m bias wah rasped to are property tlrat b the subjrcl d this report or to tlw parties ImoNed wah ors assiprercM. - my erpagenred b tltis assiparrd vns not aalkgort Won dorebpkq or reportkq predelermkied resole. - my campensatlon to compleanp 1Hs assgmrea is not tatlngoa Won tie devdopmM a reporting d a predeteminad robe a dreNon b value tlet favors the twee of are ctierd, the emaet d the vake option, are atlaNeter6 d a saWbled rasua, a tie ocrareee d a subsegront everd directly rebbd b tie Moded use d ais appraisal. - my aurayses, opNms, and tarcbsbns wam devebped, and gas report has been prepared, in cadonNly rdtir tlb Ilrilorm Sbndards d PMassfond Appraisal Ractke. - I have (a have not) made a personal Inspection d era prepertY that b tiro subixt d tlis report. (ti more rian ore peram signs iHs catakatbn, the caraDtaaon must chary spedty wNCh krdividuab did and whkh krdviduab did nd make a personal irepecaon d the apprised propaly.) - no ore preNded sgdikard real propedy epprabal assisbnce b tie person sigrinp tlis certakaaon. m there are eaceptbm, are name d each indvidual providing sipriacad real property Wprolsal assistance must be sbbd.) Comments on Appraisal and Report IdentiNcation Note any USPAP related Issues requiring disclosure and any state mandated requlretnenis: APPRAISER: Siprmtue: M~f we:~c~ L?2 c ~ °~ Name: V'raceM MkaNd Deb Slped: Februerv 13 2010 Stab Cerafkaaon N: RL007747L a State tkense #: Sbte: PA EWiraapr Dab d Certllica0on a liceree: &30/2011 Efledha Dab d Apprebat SUPERVISORY APPRAISER (only It rognired): Sipnabae: Name: Dab Signed: State Ceraacaaon #: a State Lkoee :a: State: EWiraaar Dab d Certaketlar a lkaree: SWovisay Appraiser inspecaan d Subject Property: ^ Did Ibt ^ Eraeria-aNy from sned ^ kdalor and bdaier Form ID06 - "WinTOTAL' aDDreisal sonware by a b mode. inc. -1-804AlAMODE Subject Photo Page Saroarer Estate of Ame Anderson Address 4 Alexandria Ct C aeecherticabu C Cumberland State PA b Code 17050-8224 Leader ENate of Anne Anderson Subject Front 4 Alaxanrlria Ct SabaPdce N/A Gross LMrp Area 5,884 ToblROems 13 ToolBedtoonrs 5 TahlBatlrooms 4.5 locatlon SububaNGd. Vbw Average Sib 3.7 Acre OualRy Stone/Gd. Age 6 Yeera Subject Rear Subject Street Form PICPOCSR -'IMnTOTAL' apWaisal software by a b mode, inc. -1-8gg-NAMOOE Subisct Photo Page Borrower Estate of Anne Anderson Addmss 4 Abxardria Cl C aAedaenicebu Cumberland Stale PA ZI Code 1705D-8224 larder Estate of Arvra Ardereon Subject Front 4 Abmrdrie CY Saba Pdce N!A Gross LlWrrp Area 5,884 Total Roams 13 Talal Bedroortx 5 Taal Batlrooms 4.5 Location SuburbaNGd. Yiew Average $tie 3.7 Acre OuaBq StonelGd. Aga 6 Years Subject Rear Subject Street Form PICPIX.SR -'N4rrTOTAL• appraisal so8ware by a b mode Inc. -1.800-ALAMODE Comparable Photo Page Estate of Anne Anderson Address 4 Aleondria Ct C MerirNcabu C Cumbertard Stall PA D 17050-8224 Larder Estate of Anne Anderson Comparable 1 12 Bridgeport Drive Prat. b Subfect 2.61 miles NE S(~ales Pdce 810,000 louse tlYlriA Afea 4,245 TolalRoorrls t0 Tote Bedrooms 5 Told Bedrooms 3.5 lacalbn SuburbarJGd. Ykw Average SBe .81 Acre Oualfly Stuc,Stone/Gd. Ape 14 Years Comparable 2 1805 Eba Way Prat b Suh~ect 4.47 miles NE Saks PrMs 1,145,000 Gross Llvirq Area 5,076 TaW Raarra 9 Total Bedroorta 4 Total Batllraoms 4.5 Lotalbn SuburbarJGd. Ykw Average Silo 1.07 Acre Ouelry Stone/Gd. Age New Comparable S 1 Lynchburg Ct Prat. b $eDpct 0.40 mpea NW Sabs Ptka 836.292 Gross ushq Area 4,549 Toklfloorre 11 TomlBedroona 5 ToialBatlaoonts 4.5 Loc~ios SuburbarJGd. Yarw Average Site 1.35 Acre pel'ity Brick,YmyUGd. Ape New Farm PICPIX.CR - WfnTOTAL' appralsel sollwafe by a k mode, Inc. -1-800~AlAMODE Location Map a is mode inc.' r' ` ~~ ~ ' ° a~ ~ ? t ~ ~ ~ fr vi! t ~ ~ ~'r~fµ , Y ~.~J ~Q . ~ ~^ ilb ` ~ - :t i ~ \ ~ ~ * A ~+'/ " ~ t s ' 8 p, ti,4 e, y ~ ,~ Y.r.. ~ ~ ~~y _ arw.:en y~.~,y,~ i ~.-w..ai..ir'A4. n ~Yra~ ~b.! a' L. ~~ ~: a LN L f 1I ,~ i~,':~ ~ s ~, S ~ ,t'S}' ~, ; • ~, __ t ,ry '"~ `, a r , , ~'~ ~ i4: ., i ~ ~+~;~ ~ -r ~ ~ a: ~- ~ R £ ?~{ °~ ~ ~ ~ ~~. ~~` ~ ~ ( nM~ i }.lam _~; ' ~.~, ` ..A'.iNY6 tt ~"E r ^ t~~r ~~ ,, y,: -~ . ~ ~ ~9 ~ i. - ~z& Y ~4 i i .. ' , e-pA' { ~. ,; ~~ „ ~`~Y .$ a~~3 a .. , ~ y~~ a.Ap~yy"'_~ Gt~ ".. ~~~ ~'" Ys W '/ r i*' '~Stlw. ~ ~,. Ufa ~S a .:~:`.: -: ,f Cana ~ , _. Fam MAP10C -1MnT0TAL' appals~l sollwara by a la mode, Inc. -1-BOo-ALAMODE Appraiser's 2011 Certification Bplower Estate of Anne Arsierson AddroaS 4 Abxandria C[ C' Mechenicsbu Ca Cumberland State PA D Code 170508224 LBndar Estate of Anne Ardenan Fpm MAP.TraiNC - WmTOTAI' appraisal sollwae M a b mode, Inc. -1-80o-ALAMODE Appraiser's E&O Insurance Policy ' OENERAL$TAR NATIONAL INSURANCE. COMPANY "' e~r~~,~~~~~ Financial Centre ~...~+~r----- P.O: BoaL 1U360 .,~"~ Stamtord,GOnnecgcut 06904-2360 REAL ESTATE APPRAISER5 ERRORS:81 dMfSSIONS INSURANCE POLICY DECLARATIONS PAE:1E Ttde is a ddms maa-ra.rpocEra pdfey: PMiw rand this Polley xd as eado,came~t4 anE atladanaf4a eaatully. Plailcy Number. NJA397948C Renews of Number: NJA9979A8a 1. NAME IN8URED: Y{eaatMloakf 636711~'Idrcrs CoaAe }1~rri~oa, PA 17111 2 POLICY PERI6D: k10@pWfl D91B: O.f!pU3009 ExpisUOh Date: OSA}V2010 E1leldive-12'DI am Standard Tm)e a<the eddreas otthe Named Insured. 3. I:BMT hF LIABILITY: EadtClaka; ts®oooo. CWma here ~~ l.6rdt of Li~Niy: EatA Cldln: tsotl Ag~IBg8t9: s1-Jdee,eao 4. DEDUCTIBLE; Each C1aht: $500:00, Aggregate: 51,000:00 5. RETROACTIVE DATE 08114lJOa2 If a dale B nttf+celed. tlrs Pd~ wil Clot Rrorlde coverage for any Claim adsk)g art d any act; error, Ixniildtal or pereata- Ir~ury vdt oa.'trRad bekxB atlch date. e. ANNUAL PREABUIt~ t' S46b0 7. EFDORSEMH~IIT$ Tide poFicy is made and acceded suhjaeG to the Wh4ad por(.y fam together wkh the krowkg foml(s} oY endoraarfreff~{ai. 6b79-07•AP,/27A07/]ae7)d$ti7-APJAePA Ie6Red7) CSN-07-APJ75 (fNlea71 GSN.el•AP-Det (66/200Y7 1 8. IAANAALiN46 AGENT ~c-7'~,.frmor7~' Herbeirt H. I_atrdy Insurance Agency, Ix. /f 75 Second Avenue. Suite 410 Needham. MassadllaeHs 02484-2876 Authorized Represerdadve OSl1-07-i1R-72010611007- -C+CopY 2007. C~iwal Smr Meant ComPanY, Sam{wd..CT Page 1 of r P,od~cv Cade:Oa036238 CYs Cade:7312& Daft 00734/2003 .. SLAfI: Fam SCNl.f2 -'WhTOTAL' apprldsel sdtwae by a b mode, Inc. -1-800-ALAMDOE Building Sketch Borrower Ciert Estate of Arms Anderson Address 4 Ab~mrdria Cl C Mechanicsb C Cumberland 51818 PA Code 17050-8224 laMer Estate of Anne Anderson ..,.~, .. ~/ sa 1 e....~r.+ e _ Iw I]GM111 ~ W e ~ n ~ xw.lY~ ee, IA 1=u1I4~1 ~P u'~ °"' r~ NMen • ( ~ p,p„ lawrq ea rew mw.. ewe. ewe. Iw n..ee. `s 1 e 4nIM Ww a ]M y=, ~ .d~mer 9 r liuyy ~a prt floor ague aq rt as x ~~ = u++ O.Sx 5x5=12.5 37 x 5 = 195 Rx2 0+ 38x12 = +56 +7 x it = 517 +3 x ss = 6+s 35 x 8 = 2e0 5erpi6 gppl 2360 Sq R 25x15 375 32 x IB = 576 22x35 = 330 21 x 11 231 29 x ?B = 7M + x 16 6+ ToW IMYe lle~ (Rwded): NM H R _._ _.. Nr- - . 10r Sa185pR 26 >, 38 980 +x15 60 saewle6 cola 252 sa ft lax 1+ 252 Farm SKF.BkSkl -'N/NITOTAL' appralsir sottwero by e b mode, hrc. -1-B00-ALAMODE Borrower iarl N/A Fle NO. 100205o1MB Addross 4 Akxendria Ct C Mechaniceb C CumbaAarW Smte PA L Code 17050.8224 LMder CGerR: John & Sheila Anderson TABLE OF CONTENTS Laver Leger .............................. Summary d SaiarN Feaorea ..... Subbcl Photos ..._..._ ................. URAR ....................._................. Additlanal Companbles 4.6 ...... Comparable Phdos 1-3 ............. Camparahle Phoma 46 ............. SuppNmenW AddeMmrr .......... Copy d the Deed ....................... Copy d the Deed . ..................... Copy d the Deed ............._....... Skimmed d LMIMq CondiBons Fkst Boor PM ._ ........................ Second Boor Plan ...................... Tac Parcel MoD ..........._ ............. Locatlon Map ............................. Farm TOCP- MrmTOTAL' appraisal soBware by a la made. inc. -1•B04ALAMODE Wa No. 10020501 MB RSR Appreisers & Analysts 3 Lemoyne Drive Suite 100 Lemoyne, PA 17043 ,bhn & Sheila Anderson 4 Abrmndria Court Mechanicsburg, PA 17050 RE: Estate of Anne S. Anderson 4 Alexandria Court Mechanicsburg, PA 17050 Dear Mrs. Dove: Pursuant to your request, I have prepared a Summary Appraisal Report for the property captioned in the "Summary of Salient Features" which follows. The accompanying report is based on a site inspection of improvements, investigation of the subject neighborhood area of influence, and review of sales and cost for similar properties. This appreisal has been made with particular attention paid to tl1e applicable value influendrlg economic conditions and has been processed in axordance with nationally recognized appraisal guidelines. The retrospective market value condusion stated herein is as of the date of death of Anne 5. Anderson, on November 20, 2009; as stated in the body of the appraisal and contingent upon the certifications and limiting conditions attached. The date of inspedion was February 5, 2010. Please tooted me, if 1 can be of add@bnal service to you. Respsdfuly, William Gregory Rothman PA Certifsed Generel Real Estate Appreiser Fpm DCVN - WnTOTAL' appraisal Software try a g mode, inc. -1-t100-ALAAIODE SUMMARY OF SALIENT FEATURES Subject Address a Alermndria Ct Legal Descdptlal Recorder of Deeds Book 280, Pape 2093 CRy tvtechanicsburg County Cumberland Stale PA LpCode 17050-6224 tial$a$ Trad 0118.01 Map Ratarence 25420 Sab Pdce S WA Date of Sab NIA Borrower N/A LenderA:iart Client: John 8 Sheila Anderson Size (Square Feat) 5,823 Price par Square Foot S Localbn Suburban Ape 8 years COlldldall Very Good Tool Room 15 Bedrooms 5 Baprs 4.5 Appaiser William Gregory Rothman PA Certified General RE Appraiser Date of Apprabed Vahre 1 trz0/20D9 oWdmdvakre S 1,150,000 Form SSD2 - WmTOTAL' appraisal sollware by a b mode, Inc. -1-BBO•AtAMODE Subject Photo Page Borrower font N/A Address 4 Alexandria Ct C Mecherricsbu Cumberland State PA L Code 17050-6224 Larder CkeM: John 8 Sheila Anderson Subject Front a Alerrendrie a sales Price wA Bf055 LMny Area 5,823 Total Rorons 15 TINaI Bedrooms 5 Trial BatlroOras 4.5 Location Suburban View Residential SiOe 3.7 saes OuaYty Very Good Ape a years Subject Rear Subject Strsst Form PICPDLSR -'WInTOTAL' 8ppraleal SOltwafB OY a h mode, inc. -1-800•ALAMODE Rral Estate Appraisals (717131 rr7032 dW~..,__L:__ IINIFDRM RESIDENTIAL APPRAISAL REPORT cu. w, ~nmrv;n~uw 4 Alexandria Ct Medraricabu a PA Coda 17050-8224 Rawnder of Deeds Book 260 P e 2093 Cumberlarxf Au Son's Pared .38070461115 Y r'09-'10 12502.85 WA WA Cared Owner Anne S. Andeson Estate rt Owner Tenn Yacant a 'sad Fee S' b Leasehold T P HOA 418 r Habide Farms / Silver S TownsN 25420 0118.01 WA Dale d Sale N/A NIA CieM: John & Sheila Anderson Addres 4 Abxandria Cou Medrenksbu PA 17050 Eel Mark A. Baron Asst to PA Cerlifad Gen R Address 3 Lem Drive Suite 100 Lemo PA 17043 Lacatlon Urban Suburban Rural Predomlrnt Pored land uw % land uw change &dl up ^ Over 75% ®25.75% ^ Urdar 25% °~°n~' (ggp tyrs) One lady t o0 ®Nd ikeN ^ Ukdy GroA4h rate ^ Rapid ®Sbbb ^ Slow ®Owrer 90 300 Low new 2-4 famiy ^ h process Properly vales ^ lwreaslq ^ Stable ®DecFuwlg ^ Tend 1 200 fi 8 MuN-famty To: DemarlNsuppy Shorhge ®h babnce Over suDpN ®YiwM (0-5%) Predarinad Gommacbl 3.6 Over 6 mos. 835 a~ Otlrer Mete: Mee sad Lrs raelsl eosywnla sf eu aslahMrhssd rs eat apreleal faebn. Ndplbalood boundaries and characbdsUcs: The ne hboAaod boundades are indicated on the r>a hborhood ma eralosed in the Addendum of this re rt. Su 'ed b bested in Hillside Farms in Savor S r' TownaN which is rime residerdial in nature. Factors ihad atlBCt tlb mazketabaity d the propertles n tla nelphbafaod (pradMly b enGbYrned and amenitles, empbymeM siabiity, appeal m madrd, a%J: The ne' fd>odaaa b mos suburban. The im vemants are at the h end of value when tom ared to the surroundi nor' boyhood. TTe au ed affords access to all the recessa su rt' facikies kachrd' sdx~ob sho recreatbn and a vane of em eM o rtu .Thera are ra a grant adverse fedora which m' M im ad the sub~ecl's marketab0' exec as rated elsewhere witl4n this re rt. Marled axdiions in tle subject reighbahood (ncbd'mg suppod far tle above concbsiore related to the treM of properly values, demanNsuppN, and markifirg time - such as data on cmgeYgve propertlas to sob in ib neighborhood, descrgion d the prevabnce d sales and financing corcessians, eh.): The search of co lax records the MLS service and iMonnatbn athered from realtore familiar wiM the sub ad's market indicate rites to ba in decline. Mo a funds are read' evaibbb for uaified a from a verb of sources with wnveMbnel bans bet 4.50% to 8.00% kderesl foaW 30 r mo e. MLS Market statistics indicate that the eve sale rice sold in 2007 for Silver S townshi of detached s' b fami homes over 000 was 702 713 in 2008 the eve a sale a sold of detached si b form' homes over 500 0110 was 627 630 and tlne avers sob rice sold of detached a b fami tames over 500 000 in 2009 was 5806 709. Pro)tp bfsmitlbnlsrPllM (tl appacaWe) - - Is tla devebperlDuader in codrd d the Mama Ownas' Associalbn (HOA)? Yes No Appraodmafe tool nuniba d units b tl1a subect project Approximate total number d ails fa sob an tlw subject project common chorale and nurea6aal tairiYes: Dimemiore See I De 'lion in the Deed Topography sb d awe from sub'ad Sib area 3.7 sties Comer Lot ^ Veg ®No S@e above avere Specific zoring cbssficaion and descdpion RE - Resberdial Estate Shape I ubr Zaire compaarxe ®Legal ^ Legal mncodomldng (Grandlatlbred use) ^ Mapal ^ No zaninp Drehage ors Ada uate e b View Wooded/Good Ebvaled Ulleba Pubic Olha lMFSga enprovsmnds Type Pubic Pdvale Landscaping T teal Hardsca ' Good pechicity ® Sired oeved ® ^ Ddveway Surface Macadam Gas ® CurNpdbr none ^ ^ Apparel easemems Utletbs Drs' e Water ® Sldewaic none ^ ^ FEAW Special Fbod Hazard Area ^ Yes ®No Saritafy sewer ® Strad Fghis lvpical ® ^ FfMA Zab X Map Dab 3/168009 Slam none FEMAM No. 42041C0252E Comrade (apparel adverse easemeds, encraachnriaits, spa:bl assessmeds, slide areas, illegal or legal roncodamirip wring use, dc.): There are no a reM eke condabre or non-u5' or drains easemerds or caMaions that would adverse affect marketaba' and use. GENERAL DESCRIPTION fX1ERI0R DESCPoPTIDN FOUNDATION IiASEA&M IN3UATION No. d Ulils 1 Fowdafiori urea conc. Slab None lace Sq. FL 3 331 Roof ^ No. d Stoles 2 6daior Wets Stone Crawl Space none % Rdshad 25 Cdinp appears Type (DdJA1L) DeL Roof Surface s ' b Basemad FWI Cdirg D Wall Wells aopeare Desl9n (Style) Traditional Gdbrs 8 Dwnspls. alumimrm Sump Punp Walls D Well Fbar ^ EdstllyPrdposed 6dati Yfadow Type Thermo re Dampress None observed Fbor t lib Norte ^ Age (Yrs.) 8 SbmilScneans NdNo Setlbnbntl None observed Odsfde Entry WacoulDoore Unbrow~ ^ EO 've rs. 2 Maadacbred Fbuse No ldesla8on None observed ROOAI5 Fo Livi Diri IGlcfien Oat Fa Rm R # 8atlls Laald Dtlla Area . Ft. gonad X 1 3 331 1 X 1 1 2 1 1 1 1.5 X 2 3 331 2 1 4 3 1 2 492 area above codalre: 15 Rooms• 5 rooms ' 4.5 Bet h s • 5 623 ume Fed d Gross LM Area MIERDR MdMab/Condfion HFA1tNG gTCHEN EQUIP. ATTIC AMEMfff3 CAR S7t1RAGE: 4 nr Poors t. wd c-tib /Good Type FA Rdrlgerela ® None ^ Rrepbce(s) # 4 ® None ^ Wass OW Fud as RangenOven ® Stales ^ Patio slab ® Garage # of cars TIm/Fidsh M R W sd/Good aMitlal Good Disposal ® Drop Stair ^ Deck ^ Attached Bslh Fbor Ctile/Good COOl1NG Dishwasher ® Scutlle ® Parch screenetl ® Detached Batll Walrecd Ctlb Good Cadrel Yes Fart?lood ® Boor ^ Force arourxl pool ® Buitl-In 4 wr Dogs Wood eVGood Otlia A6crowave ® Heated ^ Pool irgrourd ® Caryat CoMitlan Good Washer Rnished Drivewe u hale AddiaW feataes (spedal energy dfidai Ibrns, eC.): See atlached addenda. CorMhfon d the improvemeds, depreeiatbn (physkaG tucetlorel, and extmaq, repairs riaeded, quality d comWcBon, ranadefaigladdifions, dc.: Triers are no ' I knad uacbs and no re Ins are aired. The ua' of corxdnrd'an b rated as ve ood. The sub'ed's bwer bvel f¢dshed areas and in-law guile exceed market a detbrxs which roduce su re .The tuN de bled cost of these same cannot be recovered with resab. However su red uacbs do contribute to the value of the ro date ed'uetments were made u needed. Adverse arviroanadd cadftloris (such as. bd not imtled b, harardws wa5bs, imdc substances, dc.) presed m the imprevemems, on iM site, a b the Nniredbte vkidty d the subject property.: There are no kravm or a areM adverse environmental corWitbns that woukf alive im ad on the eeb of the roe .See addendum. kedge Mac Pam 70 693 PAGE t OF 2 Peoria Mae Pom 1004 6193 Farm UA2 - WnTOTAL' apprelsal soRware by a b mode, inc. -1-800-ALAfd00E ,._~...~_._..~. IIlY1F~RM RESIDENTIAL APPRAISAL REPORT ar.u„ ~mm~smeaa ESTMA1El1 SffE VALUE .............. _... _...... _.......... _..... = f ConyrleNS on Cost Approach (such as, source of wst estknate, acts value, ESTRIAIED REPRODUCTION COST-NEW-OF SIPROVEMENfS: square foot cakukdon and fa HUD, VA and FmF1A, tla estimated remainirrd Dweing 5.823 Sq. FL @f = S ecoronic Ha d dre property): The Cost roach wal snare! resuti 3 331 Sq. R @f = in a reliable estimate of value H the buildi k new or reasonab - new and the im rovements reflect the 'hest and best use of Garape/Carpat Sq. R @f = the land. However when Bems of I de eciation must be Total Estimated Cost New .............................= S estimated an area of'ud men! is involved wNdr is sub'ect to Less Phygcal Furctiaral Edema! error. The Cost roach was rat util'vad due to the a e or the Depradatlon ~ ~ =f sub'ed. Daradabd vales d ................................. =S 'Asas' Valera rA Site krgrovarerls ................................... =f MDICATEDV EBYCOSfAPPR0AC11 .----. -..-.-..-..__. 11EM SIRJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3 4 Alermrdrie Ct 1920 Monterey Drive 5007 Pellinphem Circle 5037 Heatherirglon Way Mxhanicabu Merharicsbur PA 17D50 Erale PA 17D25 Enola PA 17D25 4.58 mass NE 5.22 miles NE 5.43 mibs NE Pd WA 1 100000 950 000 1 020 000 s ' ' Ara 209.64 ~ 165.10 ~ 206.27 05 Dab anNa inspectbn MLS #10183534 MLS #10179755 MLS #101411550 blic record ubtic remrd ell blic record a ell blic rewrd ant VALUE ADJUSTMENTS OESCRPRON OESCRPTNIN + - DESCRIP110N : + - t DESCRIP110N + - Ad' sl SfIBS a RrencMp ConvJDOM 15 CornJDOM 90 Corn./DOM 264 ; Cis. Cwt / Re k ; Ck. Cost / Ra it . Cle. Cost / Re it I -2 500 8!1612008 X2000 10!9/2009 5/14/2008 46000 n Suburban Suburban Suburban Suburban S' b Fee Sim le Fee Sim le ~ Fee Sim b Fee Sim le 3.7 saes 1.79 acres +3g 000 .82 eras +57 000 .87 acre / rxl +21 000 Residerdlel Residential Residential Residential I TreditionaYStone Tredaional TreditbneVBrk Dv' +40 000 Traditional t CorrsWLtion Ve Good E ual E ual E ual 8 rs 7 re 5 ars 1 r -20 000 Ve Good E ual E ual E ual Above Grade T I ~ Bdrms~ Badrs Total ~()dmrs ~ Bade ~ T I ~Bdms ~ Batlrs ~ Total ~Bdmrs ~ Baths Roan Court 15 ~ 5 ~ 4.5 12 ~ 6 ~ 4.5 ~ 14 ~ 5 ~ 5.5 ~ -10,000 12 ~ 5 ~ 4.5 LNi 5 823 . FL 5247 +57 000 5 754 , R ~ 4 945 S . fl. ~ +67 000 Basemad & RNShed Full, Part. Finish FUI, Part. Finish Full, unfinished Full, unfinished de Game Rm Bath MR GR K 2Beths ~ -35 000 none +50 000 none +50 000 Ave Averse Averse Aver e FA aICAC F s/CAC F sICAC FA aslCAC T ical T I T' al T ical 4 car era 4 wr era 3 wr are a +6 000 3 wr era +8 000 Pesch, Patio, Deck Enc.Pch, Patio Deck. Patio +10,000 Patio +15,000 Deck, Patio +10,000 a 4 Fire a 3 Flre laces +4 000 2 Fire laces +8 000 3 Fire +4 000 et. Pool Fence rone +25 000 rasa +25 l>DO none +25 000 + 57 000 + - 191 000 - 134 500 Adjusbd Saks Pdce d C bk 1 157 000 1 141 000 1 154 500 CDnVrtlllb 011 Sales Comparbon (ercMtdnp the subject propeAy's compadbNlly to tle raiph6odrood, etc.): Sales of homes similar in sae to the su 'ed were limded. After a thoro h search of all available data the can tiles dasen were considered to be the best available. Ad'wtmeMs were made to reflect substantial difFereraes between the com reble ro rties and the su 'ed. The ad'trebnertts that were made reflect the kal actiorta d b re and seders in the marks .Due to the sub sd's sae and u ' ue a I some ad'uslmeMs ma exceed recommended uidelines tawever were considered necessa to derive a conclusion of value for the aub'ed. ITEM SINIJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3 Dab, Rice and Dale none in the lest rone in the lest none in the last none in the lest Souca, for prior sabs 38 months 12 mortars 12 months 12 months r of a isal ubac rewrd ublic record blic record ublic record Aretysis d arty cunem apraemaA d sale, option, a dstinp of sr~jecl property and aratysis d arty prbr sales of subject and cerrgarables widin ae year of the date of appraisal: The sub'ed's rot curve under wrkrect or listed M the o n market. NeNher the sub'ed a the wm rebles have transferred vrithkr the ast three re. d101CATE0 YAWEBY SALES I~liAR60N APPROACH ......_._ .............._..._..___-...__..._............................................. S 1 150000 NDICATEO YAWE BY dlCWE APPIgACH d ebb Estimated AWIkN Herd N/A . x Gross RBM Multi ' WA N/A Tris appraisal k made 'as is' subject b tla repaks, albratiorM, inspecdona a condtlom dated bebw wbject b completion per pkra A specdkaUpns. Ceriatises of Apprakal: No warm of this balk Ivan a im Tied. No Ilebd' is assumed for the structural andlor medrarvcal elements of the Rrol RecoricBadom Due to lack of ua end uaM of rental data the Iraome roach was coreidered ins ro fate and rat utilized. Greatest ' M was iven to the Selea Com rison roach as N reTbcts the ical actions of re and sellers le the marks lew. The Cost roach was not uaized due to the of the sub'ed ae stated above In the coal a roach canmems sedan d this re rt. The purpose d this apprasal k fo estimate the market vaha of do real property dot is the subject d 1Ns report, based on the above condNons and die catAicatian, cadirgeM and inidlrp caiadiom, and market veba deikdtion dot are stated k the adached Freddie Mac Form 439fFNA4A tam 10D4B (Revised 06/93 ). 1(MIE)F$TWTE THE WUIKET VALUE, AS DEFNED, OF THE REAL PROPERTY TIIATSTIE SUBJECT OF iN6 REP011T, AS OF 11/2W2009 (IMrH 6 THE DATE OF dfSPECIION AND THE EFFECTNE DATE OF THIS RFPORT)TO BE S 1.150 000 APPRASER: SUPFJTVROIIY APPRR6ER (ONLY F REWHEO): ~ .~/IWK_ ~. Sionaluro ~~ C ~~ ®Did ^ Did Nol Siatatire Name Mark 0. Baron. Aeat to PA Certified Gen RE Appraiser Narre W Atiem ry Rothman PA CeAified Gar kspBd Roperry Dab Reoat Sfaried Febnrary 14 2010 R Si red Febnra 14 2010 Slate Certlficcadorr N Sbte C B GA001455 State PA tk State License # Stale Or Stall # Stale Freddie Mac Form 70 6r93 PAGE Z OF Z Faaee reae romr taw o-sa Form UA2 - WinTOTAL' appraisal soRware by a b mode, inc. -1-BOPALAMODE UNIFORM RESIDENTIAL APPRAISAL REPORT MARKET DATA ANALYSIS atq mast reecBon b d aM sada to tl~wl, ~ w parry; a pbs (+))ad to a e caw notion ~~ ~ ~striad, tag Bon the wb rae~Id~- prop ~ a s Iced m co ra ~ - s s b a more shnaa is mad~e,'tlus Ylcreasirg t~ha Bidictat~W ~ ~ ~ t e slpn cad M coltparab orb, or less ITEM SUBJECT 4 Abmrdrie Ct Mocha ' COa1PARaBLE N0. 2300 Claridge Court Erola PA 17025 COMPARFBLE Fq. 1 Lynchburg Court Mecharticsb PA 17050 COYPAR~BLI: N0. 6 ffi andkr WA ~ Inepedion Nc record 5.28 mibs NE 233.98 ~ MLS #10160081 ublic record eN 1025000 0.40 mibs NW 181.92 45 MLS #10173872 ublic record eM 836 292 ~ YIW~ WAAIaENTS Salsa a Flnndrg OESCRIP71011 OESlAIP110N : CornrJDOM 4 Cls. Cost / Re k : + - DESCRIPTION ~ + - Ad' t Com./DOM 1 Ck. Cost / Re k DESCRIPTION : + - t SuWaban a/3o/zooe Sutwrben as Doo s/3onoo9 Suburban Fee Sim b 3.7 acres Fee Sim le 1.08 acre +52 000 Fee Sim le 1.35 acres +47 000 I Reaiderrtial TreditioreYStona Residential Treditional Residential TreditionaYBrk Vn : +60 000 d V Good 8 re E ual 4 re E ual 1 ar -20 000 Above6rade Roam Coud V Good T I ~Bdrms~ 15 ~ 5 ~ 4.5 S rior T ~Bdmis~ BaBIS ~ 11 4 3.5 -15000 +10,000 E ual Tokl ~Bdrms~ 11 5 4.5 Total ~Bdma~ Baths 5 823 S . FL 4381 +144 000 4 597 5 . R ~ +122 000 . R. Basenart b Rrished Full, Part. Finish Game Rm Bath Full, Part. Finish GR MR Bath -25 000 Full, unfinished rgne +50 000 Ave F AC T A e F as RadICAC ~ T I -5 000 Ave e F s/CAC T 'cat 4 car 4 car are 3 car era +8 000 Rxdt PaBO, peck Enc.Pch, Pats 4 Fire s Enc.Pch, Patb 3 Faro laces +4 000 Patio 3 Fire aces +15,000 +4 000 P Fence Deck Patio +15000 none +25 000 Adhated Saks Rice Dale, Rke aa1 Dffi SMata 1IX pdor sales w8hb d CanalarR: line vrilhin the sl lltree + - 134 000 + 309 000 + - 1 159 000. 1 145 292 rwna in the lest none in the last rwne in the last 38 months 12 months 12 months ublic record ubl'~c record ublic record is nd curve under coMrect or listed in the o n market. Neither the sub ect or the com rabies have trans(erred are. Marlrel Data Aneysk 6.93 Fonrl UA2~AC) - NVmTOTAL' appraisal software by a k rrwde, Inc. -1-800-ALRAIODE Comparable Photo Page Baroarer fBnl N/A 4 Abmndrie Ct MecheMcebu Cou Cumberland S PA L 17050-8224 Larder Cient• Join & Sheila Anderson Comparable 1 1920 Monterey Drive Prox. b Sabjeat 4.58 miles NE SalasPriu 1,100,000 Gro55 Living Area 5,247 Total Roans 12 Taal Bedroons 6 Total Bathrooms 4.5 LoceBon Suburban Vlew Residen8al SRe 1.79 acres GueNry Equal Age 7 years Comparable i 5007 Pea'rghem Circle Pron. b Subject 5.22 miles NE Sales Price 950,000 Grow LMnO Mee 5,754 Told Roams 14 ToW BeNoarla 5 ToW Batlaooms 5.5 Locdfon Suburban View Resdentfel Site .82 acre GuaB1Y Equal Aga 5 years Comparable 3 5037 Heatheregton Wey Prat b Subject 5.43 miles NE Saps Price 1,020,000 Gross Living Area 4,945 Total Rooms 12 TohlBedroans 5 Talal Bathrooms 4.5 Locatlon Suburban View Residential Site .B7 acre /pond Oualky Equal Aqe 1 year Form PICPIX.CR -'WbTt1TAL• appraisal sotlware by a b mode, inc. - i-&1QALAMODE Comparable Photo Page Borrower rant WA a Abmndrie Ct Mschanicabu Ca Cumberland Siate PA L 17050-8224 Linder Gent: John & Sheila Anderson Comparable 4 2300 Clerfdge Court Prat b Subject 5.28 mibs NE Sales Price 1,025,000 GIUSa LJvirq Nee 4.381 Total Roams 11 TotalBedroams 4 Total Barrooms 3.5 Location Suburban Yrew Residenial Slle 1.08 acre OuaYly Equal Age 4 years Comparable 5 1 Lynchburg Court Prmc b Subject 0.40 miles NW Sabs Prbe 836,292 Gross Living Nee 4,597 Toil Rooms 11 Takl Bedrooms 5 Total Barrooms 4.5 Location Suburban Yaw Residential SBe 1.35 acres Ouaiy Equal Ape 1 year Comparable 6 Prmc b Subject Saks PrNx Gross Lfvirq Na TdalROOms Trial Bedrooms Total Barrooms Locaron Yam Sik OuawY Age Fain PICPIX.CR - WmTOTAL• appraisal sorware by a k mode, inc. -1-804ALAaa00E Supplemental Addendum Fdeko.,mm2msm,aae 8ortower ferY N/A Address 4 Alexandria Ct C Mad>erticcsb Cumberland Slate PA L Code 17050.8224 tsrder CGSM: JoM & Sheka Anderson Recently buiR custom designed home. The subjed shows an in-law suite end a pariialty finished basement with a Geme Room and Bath with above average quality of construction. The subject shows an inground pool. • URAR : Recoracllfation - Raconelliafbn and Ftnal Vslue Conduslon The subjed is Overbuifl, meaning that the home is significantty larger Man most all oMers in its immediate neighborhood and Superedequete in Mat maffirials and design that aro standard for Me market have been exceeded. Features of Me subject property which may be recognized fully in the price of Ma property will not 6e fully recognized in the open sales market. The greatest weight is given to Me Sales Comparison Approach with particular attention paid to the pots per square foot of gross living area. The subject's lower level finished areas exceed market expectations, which produce superedequacy. The full depreciated cost of these Items cannot be recovered with resale. However superodequacies do contribute to the value of the property. Appropriate adjustments were made within Me Sales Comparison Approach, as needed. • URAR :Sales Comoarlson AnaMls - Summsrv of Sales ComwHson Aooroach Gross living area end tax assessmenl'mformation for comparebbs was obtained from Cumberland County Tax Assessment Records. Appropriate adjustments have been made far all differences. Compareblea sales are all dosed sales. Insufficient sales in close proximity to Me subject properly require the appreiser to extend search parameters. In order to find compereblea Sets If was necessary to use less recent sales. It is nded Mat the sets chosen are considered b be Me bast avar7abk. All mmpereble sales are kacated in the same market area as Me subject property end would be considered by Me same perspective purcheser'rf all were on Me market at Me same time as Me subjed. After considerefion of all relevant factors, Me mmparebles used are Me best indicatore of value although they are all krwer in price Man Me final value esfima6ed for the subjed. Note: It was necessary for the appreiser to widen Me market search to obtain comparebles with similar utility, style, effective age, and sales dates reflective of current market conditions. Based on appreisal prectice wiM emphasis placed on weighting the elements of comparison, the sales chosen represent Me best indication of the subjed curtest market value. In the appraisers opinion, Me sobs chosen best weigh Me elements of comparison, and while the distance from the subject property Is important, various factors within Me elements of comparison roquiro a wider than one mile redius search. Some adjustments exceed market guidelines but were deemed necessary to provide a reliable indication of value for Me subject in its as-is conditbn. • URAR : Adwrss Environmental Condltlons There are no known or apparent adverse environmental conditions that would negatively impact on the sale of the property. The appraiser has not been informed, nor has Me appraiser any knowledge of the existence of any environmental or heakh impediment, which if known, could have a negative impact on Me market value of Me subject property. The valuation contained herein is not valid ff arty I,erardous items aro found in Me subjed property and stated within the eppreisal report, k,cluding but not Ilmited lo: Ureaformeklahyde foam insulafion, Radon Gas, Asbestos Products. Lead or Lead Based Products, Toxic Contaminenffi. SCOPE OF WORK: Observation of the exterior and walk through observation of the interior of the property. Anatyzing Me plans and verifying Me measurements of the exterior of the dwelling.. Review of the Cumberland County Public Record data and Central Penn MuIH-List, Inc. records. Review the county tax map online information, county tax map, zoning, and FEMA flood maps. Veritying, the wmparebb sales with broker, agent, selbr or buyer. ABOVE AND BELOW GRADE FINISHED AREAS -AMERICAN NATIONAL STANDARD FOR SINGLE-FAMILY RESIDENTIAL BUILDINGS SQUARE FOOTAGE-METHOD FOR CALCULATING: ANSI2765-2003 The above-grade finished square footage of a house is the sum of finished areas on levels Mat aro entirely above grede. The beknv grade fmished square footage of a house is the sum of finished areas on levels that ere wholly or party below grede. SPECIAL LINKING CONDITIONS: Thb appreisal is not a home inspection and the appreisers' are not acting as home inspectors when preparing the report. The borrower has Me right to have the home inspected by a professional home inspector. When performing the inspection of this property, the eppreisers visually observed areas that vvero readily accessible. The appreisere are not required to disturb or move anyMing that obstructs axesa or visibility. The inspection is not technicelty erd,ausfive. The inspection does not offer wartanfies or guarentees of any kind. The appraisers are not home or environmental inspectors. The appraisers prove an opinion of value. The appraisal does not guarantee that Me property is free of defects or environmental problems. The appreiaere performs an inspection of visible and accessible areas only. Mold may be present in areas Me appraisers cannot see. A professional home inspection or environmental inspection is recommended should Me client have a wncem. Form TADD - MIYrTOTAL• appraisal software by a W mode, inc. -1-lI0dALAAfODE Sualalemental Addendum FkNO.tmm~smMa Borrows WA Adders 4 Alemrdria Cl C Macharwcsbu Cou Cumberland $taU PA Code 17050-8224 Lands CBeM: JoM & Sheila Anderson 5upplementsl CertMlutlons: we ~ertity mat, This SUMMARY APPRAISAL REPORTwas prepared by William Gregory Rothman, PA Cert~ed General Real Estate Appaiser and assisted by Mark Baron, assistant to the PA State Certified Generel Appaiser for the exclusive use of the diem. The intended use of this appreisal report is to evaluate the property, that is the subject of this appraisal for estate settlement purposes, subject to the stated Scope of Work ,intended usa/purpose of the appreisal, reporting requirements of this appraisal report form, and Definhion of Market Value. The opinion of Market Value stated within this appraisal assignment was prepared for a federelly-related mor~age loan purpose and is in wnformance with the requirements of Idle XI of the Federal Financial Institutions Reform, Recovery 6 Enforcement Ad of 1989 (FIRREA), the Uniform Standards of Professional Appraisal Preclice (USPAP). Estimated market value is the most probable price in terms of cash or In terms of financial anangementa equivabnt to cash. The information and opinions contained in this appreisal set font the appraiser's best judgment in light of the information available et the time of the preparation of MIS report Any use of this appraisal by any other person or entity, or any reliance or dedsbns based on this appraisal are at the sole responsibility and at the sole risk of the third parry. I accept no responsbility for damages suffered by any third party, as a result of reliance on or decisions made or actions taken based on this report. In my opinion, the reasonable exposure time linked to the value opinion is 180+ days. I fuller certify tha4 to the best of my krrowledge and belief: - The statements of fact contained in this report are true and correct. - The reported analyses, opinions, end conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and condusions. - We have no present or prospective interest in the property that is the subject of this report or to the parties involved wkh this assignment. - Our engagement in this assignment was not contingent upon developing or reporting predetermined results. - Our compensation for comple8ng this assignment Is not contingent upon the devebpment or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinon, the attainment of a stipulated result, or the occurrence of a subsequent event directty related to the intended use o(this appreisal. - Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Unform Standard of Professional Appreisal Prectice. - Mark Baron conducted and Interior and EMerlor inspection of the subject. William Gregory Rothman conducted an extedor inspection of Me subject property. Mark Baron was the assistant b the PA State Certified General Appraiser and assisted with this report end rendered significant assistance in all aspects of its preparetbn and inspection. Mark Baron Assistant to the PA Certified Generel Real Estate Appraiser William Gregory Rothman PA Certified General Real Estate Appraiser Certification q GA001455 Explratbn June 30, 2011 tam TADD -'WInTOTAL' appraisal software by a la mode, bc. -1-BOB-AIAAIODE Copy of the Deed R ~ r25fifi7 P. ZfEGt£~t f rIE~OE~OERpFO~ED~ TpXpp~t~.~y~t-11: -+,:ci~kANO OOUNTY-~ _'~ t~9U Z8 fl~ 10 19 DEED ~ . ,aumc riue~p93,.' Fam SCNLGL - "WInTGTAL' appraisal software by a e mode, Inc. -1-BO0-ALAhgDE a+aHri iei,~saco atgtMr~a feet. more or ~. Copy of the Deed e~ +~+x-a.~+~ ,w.~ .ism, reawaep n u~- v~o~: at<nr Rq~Ot+dx of Dwes of cambMloiw ~O"!'H• ~ ~ emk ~' ~- ~ ~ dY tlr sword AmmdmwK and SupgwFw+t b tiCa +~' Gor~~rllrN>r wtd RpWliatlgnt appY+atijlA Io hllldds F~mld, deoed Jute 2Q; LOUD, ~~ c!ihr.R~'dw' of 0seds d Gt~r~l Comly, in MNc. 80ak 6111, 70Zc~1hd ~, ii+lb#I. IF:FriM llnmAaiwnen' 11.bd.ron, ~„ laded August 30, tBBe, ~edaa~ ~+ aie ~omoe a+r itr keovrda or tl..ds of a,mb.rwne fbu,gr ti r~~wu sole ~,~N.oM, ,;~ ,~+. m.d . ro a» mt +sar. , a,.,sboy.,aee®.need. ~t ~ alt. A~ el~ecr b s varlaitil. width d• .~ssmsnd . ui. or'a,. prrAsra sr!d ^ nrenty [zo) aoht wwr~ ihs •~~ dtn pronrees....;Nww~, a, the abbvera[nenoed Fihy 8u¢divLidrt Prwn. And n>! akl tdr~or"na+wy oovenwnac arld mea k wdY w.rtam spici~ity the PraperlY.Y ~vyed. W iwn~s 1f/, iha sskl tiraMor hts twraurrto sstlr nglw ind seal on n,. ley and ' Ibst aboM..iwiiMen. nrrESr: eoa~ 2fi0 rliac2094 Fans iiCNLGI -'WnTOTAL' appraisal sodware by a q mode, inc. - t-804ALAMODE Copy of the Deed .. _~i11,~hova+r4mrfisM.r~doRiC4i1,. ~»° r „~ ^IVOfY ~1AYG ~- #¢ ~ . r -~ h10'ppIA1 i ~M1c '#.~. ~~4~~'. ay COmsdUle~f~GmY1a~G0. i ,. . _ .~ ~~~ I~1M9by O~IKy tl70t the yf~e res'danoa atM cvmplate Poet once a M aye witlin named - ^d Ckab.leciirder of OYeds Ikt*d~iE Fiti~. Apant for t0rsrddee ~nlrtt 469BIi ~~jti;~stx,~fu- : '~t'~3-o6as3s 'ttn~t2~s~s Iat Raoo~oeu.~, ~,._i,~ ~ Raoordara rf0oad~lii'ar~l ` ' . b Daad B c ~ ' " ~' s~ tlay d *~01UT A D. 2W8. h t?r 1330 olu r ^ !A a k 7r Y s_ ~~ r ~ .~ _ 1173 OA71IYI~pf ifs _ andlhae p_~uf 1M srld oltc~, ttfs ~~~~ ~ Lhts roCOrdt>ti +tit' t C !t le a y ~ tU Gum1*c;-1~>t~l County FA ~L' r~P ~4ifT i1~ i; sore ,.~.^~. r,~w±y.G+9-~ %`~'' •- ~ ~dsr. sra, f7nd~l 53961 u,351, f ~• . ~• 53969 12,350. F ~. a - Tot^1 a~*lYe1....... ~r.r9. Recorder of 4~ecds 600':260 eAt~ Form SCNLfI. -'NRnTDTAL' apprefsd saflwae by a b mode, inc. - t-806~ALAMODE DEFINITION OF NU-RlIOiT VALUE; The most pababk pica wNCh a Drapery sfaadd bdnp In a conpetltlve and oper market urde a9 conaltlons roquisib N a fa'r sob, Hr buyer and sekr, each adkrp puderrtY, knowbdpeably erd assuNrp the pdte Is rot atfeded by undue stlmdus. Yrplcit b Ns defiNtion b Hie consunnetion d a sob as d a spedfied dab and the passkrp d tilt from sale to buys under tordNare vdieeby: (1) buyer and sebr are lypiuy motlvabd; [2) b~ parfles are wd ktlomrd or wM advised, and each acmq in whal tr coreidas Ns own bast Irtleeri; (3) a reaserebb time is albwed to expreue fn tlr open market (4) paymeN b made in bmr d rash in U.S. dolars a in terrrrs d firendal arrergarrraYs carparebk tlrereb; and (5) tlr pica represents tlla rennri ColrWention to the property sod uuffected by special or craalive firencirp a sobs concessbns' ¢artled by aryorr aaa0tlried wtlh the sab. ' AdjuslmeNS kr Ule comparebbs mat be made to special a creative firerrdrq a sobs torcessbre. No adpsarrds aro necessary to those coals whkh are normaly paid by sales as a resrdl d lredilbn or bw b a market era; these costs are readly ideMifiabb sNrce Hr seder pays these costs in vxhuly aA cabs traruactlorr. Spxial a creative firer~ckp adjratrrretls can ba made to dre carparabb popery by carpadsore to firurxdnp temp olfersd by a 1Nrd parry brtihdierel brde that b nd akeady invoNad in tlr property a irereactlm. Any adjusbreN sfadtl nd be caleubted on a mechanical dolor fa dolor cost d Hr fMarcinp ar concessbn bd tlr dolor amoud d arty ad(ussfrd shordd appradrreb Hr market's raectlon to tlr Hnanckrp a corcessicre based on tlr appraisers judpenerl STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraisers wrtlHcatlon Hrt appare b Hr appaisal report is subject to the tobwin8 wrrditlore: t. Tir appaiser wltl not be resporelbb to matlers d a opal rehae That stied eidrr tlr propety bakrp appaised a the title N h. The appaise assumes tlul tlr title b good and mekel~le and, 1lrerdae, wR nd reds arty apkiore about the title. The PropeAy Is appraised on the basis d it being un~r resparible ownership. 2 The ppraise has provided a sketch in the appraisal report to show apprerdmab dkrrnsbre d the imProvemads and the sketch is Inckrded oNy to assist tlr reader d Hr repot b visuatlzkrp tlr grapey erd udasterdinq the appraisers debrrdretion d its size. 3. The appraise has exeNned the avatlabb Hood maps thri are provided by Hr Federal 6rraperrcy Maregemenl Agency (a oHrr data sauces) and has noted b the appraisal report r4rUrr tlr sr6pd sib b bcabd b ar idelified Special Rood Hazard Area. Because IM appraise is not a suveya, he a she makes ro puaredees, mrprass a MrDled, reparalrp fNS debnnkutlan. 4. The appaise wp not give testlmaly a In coat because he a she made an approlsal d tlr propey in question, uNess specific artangemeAs to do so have been made beforehand. 5. The appraise has estimated tlr vekr d the land in the cost approach al Hs Nplrasl and best use and fire brprovarrds at tlrir conbfbubry value. Ttrse sepeab vakatiore d the brad and fngovenrenls must nd be used in tonMmctian witlr arty Drier appraisal and are imatld H dry are so used. 6. The appraiser has nded in fire appraisal repel arty adverse conditions (such aa, reacted repairs, depeciation, tlr presence d hazardous wastes, topc substances, etc.) observed duirp tlr InsDedion d the subject propely or that he or she became aware d durtnp the renrel research kwdved in pertomirp tlr appraisal. Unless oHrrwise slated in the appraisal spat tlr apprebe has ro krowkdpe d ary Ndden a uuppared condNOre d Ur propeAy a advese ernirorrrrdal caditiore (xxdrd'mp tlr presence d hamdous wases, todc subriarces, ~.) Wt would make Hie Property more a less valuable, and trs assumed tlrt thee are re such conditions and makes re greredeos a warrerdes, m~ress a impled, repardirg Hr cordfAOn d tlr popery. The appraiser wit not be respariele tar aM such conditiore tlrt do mdst a for cry eglneerkip a testirp tlrl mipN be requked to discover whetlre such caditiere edsL Because His appraiser is rot an mwert in th field d emiravrradal hazards, tlr appraisal report must rot be coredeed as an enviraarereal assessmsa d the property. 7. The appaise obtained the infomution, estlmabs, and opbiore Hut wem expressed In the appraisal report Fran souces that ha a she corrides m be reWble and beleres tlrerr to be hue and correct. TM apprebe does not assume respor~bilty fa Hr accureq d such Here that were tumished by otMr peties. 6. The appraise wY ret 6scbse tlr coNents d tlr appraisal repod except as provided fa b tlr Uniform Standards d Professiorel Appraisal Practice. 9. The appraise has based Ns a her appraisal repot and valuation wrxxASlon for an appaisal tlut is subject ro satidadory conpletlon, repairs, a atieratians an Hie assumplbn the tampbtion d the krrprovemenls wi he pedomrdr a wodmwHke mamer. 10. The appraise must provide Ns a her prior writlan toreeN briore Hr bnderlcBetl specHied in the appraisal report can dishfbde the appraisal resort (inckdinp rarckubre about 1M property value, Hr apprelse's IdedBy and pdessiorel desipnatiore, and ralerences to arty prdassional apprasal orpari¢atlore a the Tam wih wNCh the appraiser is assabbd) to aryore otlrr than the Dortoxrer; Hr nrrt9a0ee or Hs successors and assigns; the morpape Ireaer, consrlbrgs; pdessforel apprasal agaNzatlore; arty stale or tedaay approved lbuncial hrtlhrlion; a arty depetined, agency, a iretrurrdaRy d fir lk~bd Stabs a arty sbb a the Oisbict d Cdumbb; except tlrt tlr brderlclbd may ditbibub the properly deacdplbn section d the report ody b data croleclbn or reportkrp saviee(s) wNrd havkrp to ahbin the appraisers pior wdtlen coreed The appraise's wdlten coreert and approval mat also be obtained betas Hr appraisal can be comroyed by aryore m Hr gable irrough advertiskrp, plc rabtiore, news, sales, a otlrr media. Freddie Mac Form 439 6.93 Pape 1 d 2 Famb Mae Form 109486-93 Rol Estate Appralsab (7171315-7032 Form ACR -'6YmTOTAL' apaabal soHwee by a b made, Inc. -1-BOO-AIAMODE APPRAISER'S CERTIfICATiOR: The Apprslex tedttbs and a0ress Bat 1. I have resrerohed de sub)ect marled area and have selected a mnbam d Base recall sales of propedles most skdler and pradrrete b ra stbject property fa coreideatbn h Ba sales congadsan areysls and have made a dale adjushrad when appropriab b rdbd Ba markb reac0an b tltose clans of siprNiwM varletlon r a sipolicad hen h a comparabb Property is superbr b, a mae bverable Bart the subbd Property, I have made a rapa0re adjuslrnaA b reduce the adpBted Sdes pdce d ra convarsbb and B a siprfirad Item h a comparahb property le irtaior b, or less tavorebb Ban Ba sublerd property, I have made a posilNe adprs6rad b hcrease ra adjusbd sdes prke d the rwmparsble. 2 I have taken hb carefderation th8 fades that have en Impact all vain in my devebpma! d the estinrab d market vaka in the apprdsel report (have not krowingy adthheb arty siptttkad idamation tram the aPpaisal repod and I lakve, b nre hest d my knowledge, Bat ai sletareds and idomraBat in tla a~relsal repoA are true and caret(. 3. 1 sbbd in tla appraisal spat ally my own pasarel, uMiased, and professiatM areysis, opktiaB, and corrckBions, which are subjed ody b the continpaa 81d imltinp tar~tien6 BpxBled h rtb fam 4. I have ro presera a prospective idaest h Ba propety Bat b Ba subbed b 1Ns repot and I have m presed or prospettNe persorel irdarest a bias with respect b the paNdpanls in Ba transacllan. I drd not base, efttar parlby or ren4letaly, my areysis anNor rte estirreb d market vaka b Ba appraisal report on tla rate, tobr, reipioq say IaMicaD, famHial spdra, a retlorel origin d emte the DrosDeNve owners a occupads d the su6)ect prepary a d the preserd owrvxs a occupants d tlw prapafies in the vichity d Ba subject propeAy. 5. 1 have no prosad a codemplabtl fubre hlerest In Bra subject properly, and reirar my cared a fukme anPbyntetl nor my contpertsatian for perfomrirrg this appraisal b tontlrgad on the appraised value d Bw propey, 6. I was rot regtdred to rBpoA a P value a drectiat h value that favors the pose d ra tied a arty rebbd part', ra amount d tla vabe estlmab, Ba attaimard d a speGlb resat, a Ba occurtetce d a subsequed sued in order b recdva my corrpaaatlon andla empbyrrara for parfomtinp Ba apprsal. I dd not base ra apprdsd report on a regtasbd mdmum valuatbn, a specific vabatiay a the need b approve a spBdfic mortgage ban. 7. I parfomad this appraisal h codorrdty wtth the Udform Standards d Protessbrel Appraisal Practlra that wee ~optxl and prarailpated by the Appaisal StaMards Board d The Appraisal Fotrdaron and Bat wre in place as d Ba eNective date d tlis appraisal, vv4th the ea;epfion d the deperhxe provision d those $bldeds, Wlildr does Itd 7pQIJl. I ecblawbdg! Bat 8n lStimeb d 8 ruB0labb timB is e~asrre h the open rtwlat le 8 CoMifial h the defidtlon d rtadat vaba and Ba estlrreb I dwebpad Is corelsbd wtth rte narkefirq time nobd h the raiphbaltood section d this repo4 atless I have aBrervdae stabd in the recorrctafion section B. I have pesorey inspected the Idaia and adeda areas d da subject propaly end 0a adada d al propetles iste0 as tompareblas h Ba appraisal repoA. I turthe caBty tlal I bare rgbd any appear( a laawn adverse cadBons In ra subject improvennds, on na srdtjecl sib, a m art' sib wiNn the immediate viddry d the stAject propaty d wNch I am aware and have made adpsbrar4s for Vase adverse wndttbre in rty areysis d the propety vain fo Ba e>oaa Btn I had nodal avldarce to support Barn. I have also conarrared abed tla dlxl d tla adverse cadtbns on ra markdabiity d the subject properly. 9. I personay prepared al conckrsbra and ophbre abod Ba real asble tlal were sat fath in ra appraisal report tt I retell on sigdficar professbral assletarce from arty irdrvidual a h6viduab b the patomanca d tla apprsleal or ra preparatlort d ra apprdsal spat I have rarrad such individual(s) and dbcbsed tla speclfb tasks pedarrad by them h the recawliation sedlm d ris appraisal report I ceBly that arty hdh4dual 5o reined le gtaWied to pedam the bsla. I lave not autlarizetl arryaa b make a change b arty loam h the report tlarafae. B m ureutlgrized dartpa is made b ra apprisal repor4 I wit tale re respaalbXBy to B. SUPERVI8ORY APPRARIER'S CERTIFICATION: tt a suparvisay appraise signed the apprasal report fb a she caBfies and agrees Bat I dkectly supervise the appraise wtn piepaied tla appalsal repel, have reviewed Ba appreleal repod, spree vvtth Bw sldarreds and torrduslaa d ra appraise, epee b be board by Bra apprslser'a certllitarora raartbered 4 through 7 above, and an takirp fuN resporethfltty to tla appraisal and the appraisal repod. ADDRESS OF PROPERTY APPRAISED: 4 Alexandria Ct. Mecherricsbura. PA 170508224 APPRAISER: .fir SUPERVISORY APPRAISER (only H roquirod): slpaare: ~. sipretlee: _ul C f1... Name: aeark A Baron. Asst b PA Certified Gen RE Aooreiser Name: WrBam G RWtrmen PA Certified General RE Amt Dab Signed: February 14.2010 Date Sigred: February 14.201 D Stab CerttlbaBon e`: Stab Catllkarat ~: GA001455 a State Lkaae ¥: a State tkerae B: Slate: Slats PA Fipkation Dale d Certlfiwtlan a tbertse: Erplwtbn Deb d Catlficalbn a Liceree: 6/30/2D11 ® Did ^ DItl Nd Ireped Property Fre0da Mac Fam 439 693 Pape 2 d 2 Pointe Mae fmrrr 10048 693 Fanrr ACH - WaTOTAL• appraisal software by a b mode, inc. -1-N4ALAhgDE First Floor Plan ,- __. __i :_._._._ _.........._., .4s.~..~,..~..~......~ ~~ ~~.: 1 ii[~! ...i i "A 4;1i ',. ': _... ~... . ... __L`q. .. '~ ~E+~dds ~e~ t ~€ =k~=~ { ;[ ~~ i»y~~ I i Fam SCNLGL - WnTOTAL' appraisal souv+are by a m mode Inc. -1-80QALAMO~E Second Floor Plan ~~~ .......... _.. ~. 11 S' F~ 3 :~ ki r ..• ~ y! i I !~ __'j p~ ~, ~? i~ ~: s, , ~ ~ i r ~. ?~ i ii I ;': ~ i t: Fame SCMLGL -'NfinTOTAI• appelsal sollware by a b mode, inc. -1.80D-AlAM00E Location Map Bonower rent wA Addre66 4 Abaardrie Cf C tdechenlcebu Cumberland State PA L Code 17050.8224 lender Gant: John & Sheila Anderson Fonn MAPLOC -1ANnTOTAL' appnfsal soMvare by a b mode, in6. - t-800.ALAAAODE ~. .. _ o rr_ _ yyw _ r e...,, r...«.w'.a.~raYc.LSY~...na3.~cu_a,'~u~a 3..;Ft~istn,.=,..y,,(Bi EMBE '~E~CAN GEM ~\~ TO WHOM IT MAY CONCERN: ,~l~t~rttt~ ttl DENIG JEWELERS 677 HIGH STREET WORTHINGTON, OHIO 43085 (614) 885-6164 We`/``ED~~G,E~yG'EOc c' `I L, ®\,,, 'piC~N GEM SO4 This is to Certify that we ore engaged in the jewelry business, appraising diamonds, watches, jewelry and precious stones of oll descriptions. We herewith Certify that we have this day carefully examined the following listed and described articles, the property of: riArHE Estate of Anne S Anderson ADDRESS DESCRIPTION ~ APPRAISED VALUE Stamped 14kt yellow gold ladies mirror polish engagement ring $17,140.00 prong set in 14kt white gold one round brilliant diamond clarity VS1, color K, approx 9.42-9.52 x 5.64mm., approx weight 3.lOct., approx gold weight 1.4dwt. The foregoing Appraisal is made with the understanding that the Appraiser assume no liabili- ty with respect to any action that may be taken on the basis of this Apprais A E~ DATE MUNN'S diamond gallery JEWELRY APPRAISAL ESTATE ~ FAIR MARKET VALUE We estimate the value(s) as listed for estate purposes only using fair market value guidelines. The following item(s) have been carefully exa**+ined and verified as accurately as possible within the normal and reasonable gemological ranges without the use of gemstone removal or damaging tests. Carat weights are estimated by volumetric formula unless otherwise noted. Appraisals Prepared For. Estate of Anne S. Anderson c% John Anderson 4 Alexandria Court Mechanicsburg, PA 17050 Item Description: Lady's Platinum and diamond cocktail ring, set with a * 1.25ct. Emerald cut diamond, quality SIl/F and 20 tapered baguette diamonds *2.2cttw., 4.7dwt. platinum mounting, ring size 7 (with guard). Fair Market Value of this Item ................... $ 3,500.00 Date of App April~8f, 2010 ~ , Completed by; Christopher C. Munn Note: Precious metal market price: $1148.00%z.('T) Platinum $1709.00/oz.(T) *unless noted, carat weight is estimated by formula, no stone removal. Value excludes tax. Photo of item attached to original document. This is not an offer to purchase or replace articles. 1203 Market Street Lemoyne, PA 17043 __ _ •.- ...,,,._...~"~ w+.-.> ~.aw+ttida~arLm.~w»ww~aeumNa3ra~v~~sr,., r_ Rowe's Auction Service 2505 Rimer Highway Cazlisle, PA 17015 717-249-2677 249-1978 697-4794 Mazch 9, 2010 To: John and Sheila Anderson 4 Alexandria Ct. Mechanicsburg, PA 17050 From: Rowe's Auction Service 2505 Ritner Highway Carlisle, PA 17015 Re: Personal Property Appraisal Estate of Anne S. Anderson 4 Alexandria Ct. Mechanicsburg, PA 17050 Livine Room Softwood 2 piece Schoolmasters Desk w/ drawer $300.00 Hitchcock Chair 10.00 Scandinavian oval band Box 75.00 Pine 2 piece corner cupboard with drawer 750.00 Red head duck decoy 50.00 Sheraton mahogany 2 drawer stand w/ opalescent pulls 250.00 Large Colored Engraving "The Meet at Badminton" 150.00 Chippendale Style Camel back sofa 100.00 Queen Anne style mahogany tea table, Scalia maker 75.00 Queen Anne style Wing chair 100.00 Chippendale style Wing chair and ottoman 125.00 French style armchair 75.00 Lazge pine dry sink w/ stepped up drawer 375.00 Seth Thomas cottage style mantle clock 50.00 Mahogany 2 drawer drop leaf Stand 125.00 Pr. Canadian Goose Decoys 400.00 Oriental Rug, Kirwan style, cream colored, room size 350.00 Kitchen Kerosene lamp, cranberry cut to clear font 75.00 2 Copper Lustre creamers & bowl 50.00 Pine step back cupboazd w/ 2 drawers & E lites 600.00 Gaudy Welsh child's mug & pitcher 100.00 Sheraton cherry one drawer Stand 125.00 Oak one drawer kitchen table 100.00 Pine mortised bench, 6' 75.00 Pr. hoop back kitchen chairs 20.00 2 cane seat chairs 20.00 Blue & white pottery salt crock 75.00 Modern green desk 50.00 Green plank bottom chair 10.00 German porcelain spice set 100.00 Sitting Room Brass Bucket 30.00 John McCann watercolor, New Orleans 50.00 Pine dovetailed tool chest 100.00 Copper tea kettle & stand 100.00 3 Herend Fishnet figurines 250.00 Majolica Pitcher 100.00 Majolica bird plate 35.00 Folk Art Doll House 100.00 Group Colonial Williamsburg Pewter 200.00 Needle point foot stool 75.00 Pr. Barrel back chairs w/ green upholstery 75.00 Bedroom Chippendale style slant front ladies desk 200.00 Inlaid Chippendale style mirror 100.00 Victorian carved parlor chair 100.00 Ethan Allen 4 pc. Cherry bedroom suite w/poster bed 1000.00 Victorian Sofa w/ green upholstery 300.00 Rayal Doulton figurine, "Chloe" 40.00 Herend Bird Dish 50.00 Victorian cottage clock, "S.C. Newhall" 50.00 Mahogany drop leaf coffee table 25.00 Herend Fruit pattern tea set 250.00 Victorian walnut oval & square frames 40.00 Faux Bamboo sewing Stand 40.00 Oval gilt frame w/ child's photo 40.00 Ethan Allen cherry 2 drawer stand 50.00 Victorian walnut doll bead 100.00 Hallway Tall case clock, Seth Thomas movement, restorations 400.00 Small Four drawer mahogany chest 150.00 Chippendale style love seat 275.00 Oriental Persian style rug 200.00 Basement Green granite top table 2 Trunks Jewelry 18K gold tennis bracelet w/ 66 diamond chips 18K gold ring w/ 20 diamond chips 18K gold ring w/ diamond chips, "bow" design 14K gold ring w/ appx. 1/3 ct. diamond 18K gold ring w/pearl (3) 14K gold wedding bands "750" white gold ring w/ aquamarine stone 14K gold bracelet w/ buckle 14K gold bracelet w/ chain Pearl Necklace w/ 14K white gold clasp 25.00 35.00 650.00 150.00 250.00 2so.oo 150.00 200.00 100.00 500.00 350.00 150.00 Total $12,095.00 W. David Rowe __ _ _ _. REVOCABLE TRUST AGREEMENT THIS AGREEMENT made this .~ / day of ~- 19 `f/ , between ANNE S. ANDERSON, of Allegheny County, Pennsylvania, as the "grantor", and PITTSBURGH NATIONAL BANK, as the "trustee", (^1ITNESSETH: described on the attached schedule, This property and any other property received by the trustee hereunder from the grantor shall be held and distributed upon the following trust: ARTICLE I The grantor hereby transfers to the trustee the property A. During the life of the grantor, the trustee shall pay so much of the net income and principal of the trust to or for the benefit of the grantor as she may, from time to time, request in writing. The grantor shall give reasonable advance notice of any change of instructions regarding distributions of income and/or principal. Any undistributed income shall, from time to time, be added to principal and invested as such. However, during any period in which, in the opinion of the trustee, the grantor is This s certified to be a true -1- ~ an c rrec y t eon final orney incapable of managing her affairs because of illness or otherwise, the trustee shall, in its discretion, use so much of the income and principal of the trust as it shall deem advisable for the comfort and support of the grantor. B. Upon the death of the grantor, the trustee shall distribute the principal, together with any undistributed income, to the grantor's personal representative, and this trust shall terminate. ARTICLE II In addition to the powers conferred by law, the trustee shall have the following powers, to be exercised after consultation with and approval by the grantor, or if she is unavailable, in its absolute discretion: A. Tv retain all assets received in kind, including but not limited to stock in PNC FINANCIAL CORP or its successors, as investments, without duty of diversification, or to sell the same upon such terms as it shall deem advisable; to invest in all forms of property, including but not limited to common trust funds maintained by the corporate trustee or its bank affiliates, debt securities underwritten by PITTSBURGH NATIONAL -2- BANK or any of its affiliates, whether individually or as a member of a divided or undivided syndicate, participation in registered investment companies (including money-market funds) for which the corporate trustee, any affiliate, or any subsidiary of an affiliate provides services for compensation, whether as custodian, transfer agent, investment advisor or otherwise, and interest-bearing deposits in a bank or other financial institution under state or federal supervision, including the corporate trustee's banking department, without restriction to legal investments and without regard to diversification; to exchange or lease for any period of time any real or personal property and to give options for sales, exchanges and leases; to exercise all rights of security holders; to compromise any claim or controversy without court approval; to borrow money from any source, including PITTSBURGH NATIONAL BANK; to delegate discretionary powers; and to make distribution in cash or in kind. Notwithstanding any provision herein to the contrary, the grantor retains the right to vote securities held hereunder. The trustee shall deliver to the grantor all statements and proxy materials relating to securities in the manner prescribed by applicable federal regulations, and shall not vote any security except in accordance with the grantor's instructions. Provided, however, this provision shall not be -3- applicable following the grantor's death or incapacity. B. To purchase and sell securities through any broker or brokerage firm the trustee may select, including any brokerage operation affiliated with or conducted by PITTSBURGH NATIONAL BANK, PNC FINANCIAL CORP, or any of their subsidiaries. The payment of the usual commissions charged by such an affiliated brokerage operation shall in no way reduce or otherwise affect the trustee's compensation as hereinafter provided for. ARTICLE III The grantor expressly reserves the right at any time and from time to time by a signed instrument delivered to the trustee, to revoke, alter or amend this trust, in whole or in part, provided that the duties and rate of compensation of the trustee shall not be modified without the written consent of the trustee. ARTICLE IV The trustee may resign at any time by delivering thirty days written notice of such resignation to the grantor. -4- ARTICLE V The trustee shall be entitled to deduct as compensation for its services hereunder a fee which shall be in accordance with its schedule of charges in effect, from time to time. ARTICLE VI This agreement and the trust hereby created shall be construed and governed by the law of Pennsylvania, IN WITNESS WHEREOF, the grantor has hereunto set her hand and seal and the trustee has caused this agreement to be executed by its duly authorized officers and its corporate seal to be hereunto affixed as of the day and year first above written, WITNESS: i ff ATT~}S,T GRA R • %~ Lft1t.C'~ ~ ~ t/1~}G.e',(.5~~ ( SEAL ) TRUSTEE: PITTSBURGH N~AT~IONAL BANK Vice P sident -5- COMMONWEALTH OF PENNSYLVANIA ) COUNTY OF ~ 1. ~< SS Before me, a Notary Public, in and fo,/r~-said County and Commonwealth, personally appeared ~` l~l~ +~~ dl ~=2:S c~-ir"- , and acknowledged the foregoing to be f~ ~ free act and deed and desires that the same may be recorded as such. WITNESS my hand and Notarial Seal this ~ / day of f , 19 ~. COMMONWEALTH OF PENNSYLVANIA ) SS COUNTY OF ALLEGHENY ) Before me, a Notary Public in and for said County and Commonwealth, personally appeared _~(ncr~ a Vice President of PITTSBURGH NATIONAL BANK, a national banking association, and as such Vice President and being authorized to do so, executed the foregoing instrument for the purposes therein contained for and on behalf of PITTSBURGH NATIONAL BANK. WITNESS my hand andC Notarial Seal this--~ day of 2.u.~c.~ , 19 ~~ Notary Pu is Notarial Soal ~ .Nolan' P~bio ~ ~ hMe12 19~i Member, Penru^yivarria Assoaation of NoCaries PITPSBL7RGFi NATIONAL BANK TRUST DIVISION SPF]CLAI, SEI9itEfiOLDERS COI~A'lONICATIONS FUF2D~I Custaner Name and address of person with voting authority Title of Account Account Number: In an effort to permit direct conmunications between a ccc[rpany which issues securities and the shareholders who vote, or direct. the voting of, those securities, the Securities and Exchange Commission has adopted Rule 14b-2. In accordance with the Securities and Exchange Cotmission Rule, unless you object, we will provide your name, address and share positions in the securities which you vote to companies which request that information. If you tell us "I object", we will not provide your name, address and share positions to requesting companies. If you tell us "I do not object", or if you do not make one of the elections below, we will provide this information to requesting conies. Under the Rule, your elects n will apply to all securities we hold over which you have voting authority. Of course, only the company which has issued the stock can request this information. For your protection, the Rule prohibits the requesting company from using your name and address for any purpose other than corporate cmm~anications. A company is not permitted to use this information for product sales. please complete the section below by checking one of the alternatives and signing, dating, and returning the attached copy~o this form to your Trust Officer as soon as possible. I OBJDCT ( / ) (You are not authorized to release my name, address, and share positions.) I DO NOT OBJEX'T ( ) (You are authorized to release my name, address, and shaze positions as permitted by the Securities and F~rchange Commission's regulations.) i ° '~ ignature person with voting authorityn ~Yln ¢.. J ~L~cnd~.t-~~r, l~~l~ ~% Date printed Name A COPY OF THIS FgRM MUS'P BE PLACID IlV THE ACCOL~TP' S LH7:AT• FILE Pittsburgh National Bank One Oliver Plaza, 28th Floor Pittsburgh, Pennsylvania 15265 Gentlemen: I, ANNE S. ANDERSON, as grantor, have executed a revocable trust agreement with Pittsburgh National Bank as trustee dated / 3/ ~ 9/ Pursuant to ARTICLE II of said agreement the trustee has been granted certain discretionary powers, including investment powers, to be exercised after consultation with and approval by the grantor, if available. It is my direction that all or portions of the trust assets are to be invested in accordance with certain investment programs offered by Pittsburgh National Bank called "Municipal Bond Investments for Principal Appreciation" (MPA) and/or "Treasury Bond Investments for Principal Appreciation" (TPA), in accordance with the proportions set forth below. It is my understanding that the MPA program is a trading strategy and within the program the trustee exercises its discretionary authority to buy and sell, making investment changes as it deems advisable, and the TPA program is a trading strategy which involves investing in 30-year U.S. Treasury Bonds and/or short term money market instruments. In addition, I understand that the trustee maintains a TPA Common Trust Fund which uses the TPA trading strategy but can only be used if Pittsburgh National Bank is named as fiduciary or co-fiduciary. MPA program Ci.(~.Ci f , (state initial dollar amount, or if all is to be invested, write "all".) TPA program ( 150,000 minimum) TPA Common Trust Fund Therefore, until further written notice, I hereby authorize, approve, direct and ratify the use of the MPA and/or TPA programs and/or the TPA Common Trust Fund for the investment of those designated initial portions of the trust's assets and any additions or accretions thereto, as well as any and all discretionary authority exercised by Pittsburgh National Bank within those programs to make investment changes and the trustee shall not be required to consult with me or obtain my approval with respect to said investments unless and until the trustee deems it advisable to invest all or part of the trust's assets invested in either the MPA or TPA program or the TPA Common Trust Fund other than in such program or Fund. During the term of any MPA and/or TPA investment the trustee shall have full authority and discretion to vote all proxies and to exercise any and all rights of security holders. In addition, in the event of my incapacity, the trustee shall be free to exercise its discretion regarding the investment of the portions of the trust's assets invested in the MPA and TPA programs which shall include specific authority to invest or to continue to invest the portions of the assets invested in either program or the TPA Common Trust Fund in such program or Fund. I hereby acknowledge that I have been informed regarding fees charged for the investment in the program, programs, or Fund of which I have .directed the use and regarding the investment purposes and objectives of such program, programs, or Fund. The trustee shall be without liability of any kind for following my instructions as contained in this letter. Executed thi s ~ / day ~~~~~,,~-- , 19~. ~; WITNESS: i / .- . GRANTOR: .C %~ C.r (.d2 CxGfi1 ~S~(S EAL ) The trustee hereby agrees to the foregoing: ATTEST: TRUSTEE: PITTSBURGH NATIONAL BANK By 7 .~.-~.~~ Vice P esident