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1505610140
REV-1500 EX (01-10)
PA Department of Revenue OFFI(,IAL USE ONLY
Bureau of Individual Taxes Counfi~ Code Year File Number
PO BOX 280601 INHERITANCE TAX RETURN 2 1 1 0 0 6 7 7
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYW Date of Birth MMDDYYYY
1 9 6 1 4 1 8 5 7 0 5 0 6 2 0 1 0 0 2 2 4 1 G 1 4
Decedent's Last Name Suffix Decedent's First Name MI
R O D D I C K A R L E N E
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
R OD D I C K J OH N M
Spouse's Social Security Number
1 7 9 1 2 5 3 0 6 THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL INAPPROPRIATE OVALS BELOW
^X 1. Original Return ^ 2. Supplemental Return ^ 3. Remainder Return (date of death
prior to 12-13-82)
^ 4. Limited Estate ^ 4a. Future Interest Compromise (date of ^ 5. Federal Estate Tax Return Required
death after 12-12-82)
~
^X 6. Decedent Died Testate ^ 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
^ 9. Litigation Proceeds Received ^ 10. Spousal Poverty Credit (date of death ^ 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. O)
CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SFiVULU tit UIKtG I tU I U:
Name Daytime Telephone Number
J OE L R. Z U L L I N GE R 7 1 7 2~4 6 Q~~~ 9
o --
REGISTER ~ ~ SE ~Y
~ ~ ~ `.~~~
First line of address ~~ ~ d -,. ~~
_ f f_..'
1 4 NORTH MAI N STREET ~o~' --~r,r~:~
Second line of address ~ ~ ~ .~= ~~
~.,
S U I T E 2 0 0 .~- ~~
City or Post Office State ZIP Code DATE FILED ~
C H A M B E R S B UR G P A 1 7 2 0 1
Correspondent's a-mail address:
Under penalties of perjury, I deGare that I have examined this return, including accompanying schedules and statements,, and to the best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
SIGNAT RE O PERSC~~ I~SP IBL~~ FfjLING RETURN DATE
60~' BALTIMORE ROAD SHIPPENSBURG PA 1,'257
SI ATU E OF PRFiPARER_0~1iER~TM~AN REPRE,SE,AITATIVE~ DATEr ,
14 NORTH MAIN STET, SUITE Z00 CHAMBERSBURG PA 17201
PLEASE USE ORIGINAL FORM ONLY
Side 1
1505610140 1505610140 ~~
J
1505610240
REV-1500 EX
Decedent's Social Security Number
Decedent's Name: ARLENE RODDICK 1 9 6 1 4 1 8 5 7
RECAPITULATION
1 5 0 0 0 0
0 0
1. Real Estate (Schedule A) ........................................... 1. .
2 8 4 9 8 2
0 7
2. Stocks and Bonds (Schedule B) ...................................... 2. ,
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3. •
4. Mortgages and Notes Receivable (Schedule D) .......................... 4. •
4 0 0 ' 0 0
5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E)....... 5.
6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ....... 6. 8 3 1 7. 7 8
7. Inter-Vivos Transfers & Miscellaneous N n-Probate Property
Billi
R
h
l
~] S
t
t
d
S
d
G
7
epara
ng
.......
e
eques
e
(
c
e
u
e
) .
8. Total Gross Assets (total Lines 1 through 7) ........................... 8. 4 4 3 6 9 9. 8 5
9. Funeral Expenses and Administrative Costs (Schedule H) .................. 9. 1 6 4 7 3 . 6 6
10. Debts of Decedent, Mortgage Liabilities, and Liens (Schedule I) ...... ....... 10. •
11. Total Deductions (total Lines 9 and 10) ........................ ....... 11. 1 6 4 7 3. 6 6
12. Net Value of Estate (Line 8 minus Line 11) ..................... ....... 12• 4 2 7 2 2 6 • 1 9
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made (Schedule J) ............... ....... 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) ............... ....... 14. 4 2 7 2 2 6 • 1 9
TAX CALCULATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2) x .0 5 5 1 4 4. 8 8 15. 0. 0 0
16. Amount of Line 14 taxable
at lineal rate x •045 3 6 6 6 8 1 3
1
16.
1
6
5
0
0.
6
6
17. Amount of Line 14 taxable
5 4 0 0
0
0
17
6
4
8
0
0
.
at sibling rate X .12 . .
18. Amount of Line 14 taxable
0 0
0
0
0
0
at collateral rate X .15 1 g, .
19. TAX DUE ............................................... ....... 19. 1 7 1 4 8. 6 6
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
Side 2
1505610240 1505610240 J
REV-1500 EX Page 3
Decedent's Complete Address:
File Number
21 10 0677
DECEDENTS NAME
ARLENE RODDICK _
__ _
STREET ADDRESS
601 Baltimore Road
CITY
Shippensbur STATE
PA ZIP
17257
Tax Payments and Credits:
~• Tax Due (Page 2, Line 19)
2. Credits/Payments
A. Prior Payments
B. Discount
3. Interest
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund.
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
Make check payable to: REGISTER OF WILLS, AGENT
(1) 17,148.66
(5) 17,148.66
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred : ...................................................................... ^
b. retain the right to designate who shall use the property transferred or its income; ............................... ^ X^
c. retain a reversionary interest; or ................................................................................................ ^
d. receive the promise for life of either payments, benefits or care? ....................................................... ^
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? ....................................................................................... ^ Q
3. Did decedent own an "intrust for" orpayable-upon-death bank account or security at his or her death? ......... ^
4. Did decedent own an individual retirement account, annuity or other non-probate property, which
contains a beneficiary designation? .................................................................................................. ^ 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 for the use of the surviving spouse is
3 percent [72 P.S. §9116 (a) (1.1) (i)].
For dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use o•f the surviving spouse is 0 percent
[72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
• The tax rate imposed on the net value of transfers from a deceased child 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)(1)].
• 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)]. Asibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
Total Credits (A + B) (2)
(3)
(4)
0.00
0.00
REV-1502 EX+ (01-10)
pennsylvania SCHEDULE A
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN REAL ESTATE
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
ARLENE RODDICK 21 10 0677
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property
would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real property that is jointly-owned with right of survivorship must be disclosed on Schedule F.
Attach a copy of the settlement sheet if the property has been sold.
ITEM Include a copy of the deed showing decedent's interest if owned as tenant in common. VALUE AT DATE
NUMBER OF DEATH
DESCRIPTION
1. Tract of real estate, together with improvements thereon erected, situate at 601 150,000.00
Baltimore Road, Shippensburg, Pennsylvania, appraised by Tim L. Ausherman, with
copy attached
TOTAL (Also enter on Line 1, Recapitulation.} I $ 150,000.00
If more space is needed, use additional sheets of paper of the same size.
REV-1503 EX + (6-98)
SCHEDULE B
COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
ARLENE RODDICK 21 10 0677
All properly jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. 2100.37 shares Vanguard Wellington; Inv @29.03 60,973.74
2. 1800.896 shares Vanguard Value Index; Inv @19.04 34,289.05
3. 3114.81 shares Vanguard Windsor II; Inv @23.94 74,568.55
4. 2057.038 shares DWS Managed Municipal Bond Fund;A @9.07 18,657.33
5. 4219.725 shares DWS Growth & Income Fund;A @14.63 61,734.57
6. 1,148.6726 shares Bank of New York Mellon Corp. @30.26 34,758.83
TOTAL (Also enter on line 2, Recapitulation) ~ $ 284, 982.07
(If more space is needed, insert additional sheets of the same size)
REV-1508 EX + (6-98)
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
ARLENE RODDICK 21 10 0677
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. Ring appraised by Ludwig Jewelers, specifically bequeathed to decedent's sister, 400.00
Betty L. Novinger
TOTAL (Also enter on line 5, Recapitulation) I $ 400.00
(If more space is needed, insert additional sheets of the same size)
REV-1509 EX+ (01-10)
pennsylvania
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF: FILE NUMBER:
ARLENE RODDICK 21 10 0677
ff an asset was made jointly owned within one year of the decedent's date of death, it must be reported on Schedule G.
SURVIVING JOINT TENANT(S) NAME(S) ADDRESS RELATIONSHIP TO DECEDENT
A. Daniel M. Roddick 655 Rim Road son
Pasadena, CA 91101
B
c
JOINTLY-OWNED PROPERTY:
ITEM
NUMBER LETTER
FOR JOINT
TENANT DATE
MADE
JOINT DESCRIPTION OF PROPERTY
INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR
IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET °k OF
DECEDENT'S
INTEREST DATE OF DEATH
VALUE OF
DECEDENT'S INTEREST
1. A. 7/1997 549.7541 shares Bank of New York Mellon Corp. 16,635.55 50. 8,317.78
@30.26
TOTAL (Also enter on Line 6, Re~~apitulation) I $ 8, 317.78
If more space is needed, use additional sheets of paper of the same size.
REV-1511 EX+ (10-09)
pennsylvania SCHEDULE H
DEPARTMENT OF REVENUE FUNERAL EXPENSES AND
INHERITANCE TAX RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
ARLENE RODDICK 21 10 0677
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Fogelsanger Bricker Funeral Home, funeral services 4,980.16
B. ADMINISTRATIVE COSTS:
1. Personal Representative Commissions:
Name(s) of Personal Representative(s)
Street Address
City State ZIP
Year(s) Commission Paid:
2, Attorney Fees: JOeI R. Zullinger 7,500.00
3, Family Exemption: (If decedents address is not the same as claimants, attach explanation.) 3, 500.00
Claimant John M. RoddiCk
Street Address 601 Baltimore Road
pity Shippensburg state PA ZIP 17257
Relationship of Claimant to Decedent SpoUSe
4. Probate Fees: Letters 410.00; will 15.00; short certificates 20.00; JCS fee 23.50; 493.50
automation 5.00; filing return 20.00
5 Accountant Fees:
6. Tax Return Preparer Fees:
7
TOTAL (Also enter on Line 9, Recapitulation) I ~ 16,473.66
If more space is needed, use additional sheets of paper of the same size.
REV-1513 EX+ (01-10)
pennsylvania ~ SCHEDULE J
DEPARTMENT OF REVENUE BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
ARI FNF RC)I~I~IrK ~1 1 f1 r1R77
RELATIONSHIP TC~ DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSONS} RECEIVING PROPERTY Do Not List Trustee(s~ OF ESTATE
I TAXABLE DISTRIBUTIONS [Include outrght spousal distributions and transfers under
Sec. 91116 (a) (1.2).]
1. John McCulloch Roddick, 601 Baltimore Road, Shippensburg, Spousal 55,144.88
PA 17257
life interest in trust, Item IV of will
2. Daniel M. Roddick, 655 Rim Road, Pasadena, CA 91101 Lineal 341,681.31
Item 1, Sch F (one-half value) 8,317.78
Remainder interest in trust, Item IV of will 333,363.53
3. Tyler McCulloch Roddick, 655 Rim Road, Pasadena, CA91101 Lineal 25,000.00
Specific bequest from trust created in Item IV,
12.a. of will 25,000.00
4. Betty L. Novinger, c/o Debbie Tompkins, 12002 Bexhill, Sibling 5,400.00
Houston, TX 77065
Specific bequest of cash 5,000.00
Specific bequest of ring 400.00
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 T HROUGH 18 OF REV'-1500 COVER S HEET, AS APPROPRIATE.
II, NON-TAXABLE DISTRIBUTIONS:
1. A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAXIS NOT TAKEN:
1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS:
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $
Ir more space Is neeaea, use addlUOnal sheets of paper of the same size.
REV-1514 EX+ (4-09)
pennsylvania
DEPARTMENT OF REVENUE
Bureau of Individual Taxes
PO Box 280601
Harrisburg PA 17128-0601
SCHEDULE K
LIFE ESTATE, ANNUITY
& TERM CERTAIN
(CHECK BOX 4 ON REV-1500 COVER SHEET)
ESTATE OF FILE Nt1MBER
ARLENE RODDICK 21 10 0677_______...
This schedule should be used for all single-life, joint or successive life estate and term-certain calculations. For dates of death prior to 5-1-89,
actuarial factors for single-life calculations can be obtained from the Department of Revenue.
Actuarial factors can be found in IRS Publication 1457, Actuarial Values, Alpha Volume for dates of death from 5-1-89 to 4-30-99,
and in Aleph Volume for dates of death from 5-1-99 and thereafter.
Indicate below the type of instrument that created the future interest and attach a copy oi` it to the tax return.
® Will ^ Intervivos Deed of Trust ^ Other
NAME OF LIFE TENANT DATE OF BIRTH NEAREST AGE AT '
DATE OF DEATH TERM Of YEARS
LIFE ESTATE IS PAYABLE
John McCulloch Roddick 5/2/1921 $g ®Life or ^Term of Years
^ Life or ^Term of Years
^ Life or ^Term of Years
^ Life or ^Term of Years
^ Life or ^Term of Years
1. Value of fund from which life estate is payable ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,$ 388,508.41
2. Actuarial factor per appropriate table,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 0.14194
Interest table rate - ^ 3.5% ^ 6% ^ 10% X^ Variable Rate 3.40
3. Value of life estate(Line1multipliedbyLine2) ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,$ 55,144.88
NAME OF LIFE ANNURANT DATE OF BIRTH NEAREST AGE AT
DATE OF DEATH TERM OF YEARS
ANNUITY IS PAYABLE
^ Life or ^Term of Years
^ Life or ^Term of Years
^ Life or ^Term of Years
^ Life or ^Term of Years
1. Value of fund from which annuity is payable ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,$
2. Check appropriate block below and enter corresponding number , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Frequency of payout - ^ Weekly (52) ^ Bi-weekly (26) ^ Monthly (12)
^ Quarterly (4) ^Serni-annually (2) ^ Annually (1) ^ Other ( )
3. Amount of payout per period,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,$
4. Aggregate annual payment, Line2multipliedbyLine3 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
5. Annuity Factor (see instructions)
Interest table rate - ^ 3.5% ^ 6% ^ 10% ^ Variable Rate
6. AdjustmentFactor(Seeinstructions),,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
7. Value of annuity - If using 3.5%, 6%, 10%, or if variable rate and period
payout is at end of period, calculation is: Line 4 x Line 5 x Line 6 ...........................$
If using variable rate and period payout is at beginning of period, calculation is
(Line4xLine5xLine6)+Line3,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,$
NOTE: The values of the funds that create the above future interests must be reported as part of the estate assets on Schedules A through G of the
tax return. The resulting life or annuity interest should be reported at the appropriate tax rate on Lines 13 and 15 through 18 of the return.
If more space is needed, use additional sheets of the same size.
Annuity, Life Estate, and Remainder Factors
5/5/2011
Transfer Date: 5/2010
§7520 Rate: 3.40%
Calculation Type: Life
Principal: $388,508
Lives: 1
Ages: 89
Life Estate Remainder
Factor: 0.14194 0.85806
Value: $55,144.88 $333,363.53
_ ...
- ,F.jj ~ ! ?1='..r'•L: its.
. ~ . .~....,.... s. t ~+ , = 7 7 ~ F. ' t.''v~ l ~f.%L V 1.J7 ! 11,7. ~Jd
_.._ _ __ ---- ---- - ~Ytr_.,.~...- ~4~ ~~. i C
~tj~ ~ ~ ~~ ~~~
LAST yv'ILL ANl~ TE3TA~f$NT .
~ ~
'S T land
I, Arlene Witmer Roddick, of Southampton T ,~
p
County, Pennsylvania, declare this to be my last will and testament
and revoke any will or codicil previously made by mE:.
ITEM I: I direct that all my just debts, except as may be
barred by a Statute of Limitations, and my ~~uneral expenses,
including my gravemarker and expenses of my last i].l~zess, shall be
paid from my residuary estate as soon as pract~_c;~ble after my
decease as a part of the administration of my estatf~.
ITEM II: I give and bequeath all my tangible personal
property, including but not limited to, any and all automobiles and
'' other motor vehicles, household goods and furniture and
furnishings, china, silverware, jewelry, ornaments, works of art,
C books, pictures, wearing apparel and persona:L effects, but
excluding cash on hand and tangible evidences of intangible
personal property, together with any policies of insurance
. applicable thereto including any prepaid premiums thereon to my
spouse, or if my spouse fails to survive me, to my son, Daniel M.
Roddick.
ITEM III: I give the sum of $5,000.00 cash, my smoky topaz
Ling, my grandfather Lenker' s pict>>res and frames and any of my
clothing to my sister, Betty L. Novinger, if she survives me by
thirty days . In the event my said sister predeceases me or dies on
or before the thirtieth day following my death, this bequest shall
be distributed under the terms of the residue of my estate.
_'?~~~}' ~a ~ '~~~ If my spouse survives me, I devise and bequeath to
~?;~E~Fz~r . ~.
my Trustee hereinafter named, to be held iii a sepa=rate tr use (the
non-marital or by-pass trust) the maximum amount that can pass at
my death free of Federal estate tax because of the unified credit
and all other credits or deductions applicable to my estate other
than the marital deduction, provided however, that the credit for
state death taxes shall be taken into account on.l~r to the extent
that doing so does not result in state death taxes that would
otherwise not be payable. The amount of this non--marital gift and
its funding shall be governed by the following:
A. The amount of this non-marital gift shall be reduced
by the aggregate of (1) all items includable in my estate for
Federal estate tax purposes which either arE~ taxable gifts
made during my lifetime or a_re disposed of in previous
~.~ articles of this will or pass outside of this will, but only
if such items do not qualify for the Federal estate tax.
_~
marital deduction or the Federal estate tax charitable
deduction and (2) the amount of any admini~~tration expenses
,s
~~ claimed as income tax rather than estate ta:~ deductions.
B. My executor shall allocate and set aside or
distribute to this non-marital gift any (up t:o all) assets (or
proceeds of assets) which do not qualify for the marital
deduction for Federal estate taxes. In no evE~nt shall assets
be distributed in kind to this non-marital gift to the extent
the effect would be to permit diminution. of the marital
deduction gift by more than a pro-rata share of all
depreciation occurring in my estate between the date of my
Page 2
death and the date of u.~5~r l~u~lc~n ~~ ~lii~~ trust . ny
allocation of assets between this non-marital gift and the
marital deduction gift shall, with respect to each share,. be
comprised of assets having an aggregate markE~t value at the
time of allocation fairly representative of the net
appreciation or depreciation in value t;o the date of
distribution of all assets then available for distribution.
~. My Trustee shall hold this non-m~~rital gift, IN
TRUST, for the following uses and purposes and under the
following terms and conditions:
1. My Trustee shall pay tYle distribution
amount set forth below to or for ~th.e bene_f it of my
spouse during my spouse` s 1_i fe, :in quarter-annual
tip`` installments .
..,~
.~'. 2. The trustee shall pay to my spouse in each
,~
.;~
°., tax year of this trust during my spouse` s life an
~~
amount (herein called the "Distribution Amount")
equal to f ive percent of the average of the fair
market values of the assets of th.e trust as of the
close of the last business day of t:he trust's three
previous tax years (or such les~~er number of tax
years as are available for the :First three tax
years of the trust). In the care of a short tax
year, the distribution shall be c~~lculated as set
forth in subparagraph 3. below. In the case of
contributions to or distributions from the trust,
Page 3
including inir ial fuiZdiilg, the Distribution Amount
shall be determined as set forth in subparagraph 4.
below.
3. For a short tax year, tree Distribution
Amount shall be based upon a pror~~ted portion of
the Distribution Amount set forth above, comparing
the number of days in the short tax year to the
number of days in the calendar ye~~r in which the
short tax year is a part.
4. In a tax year in which assE:ts are added to
or distributed from the trust (othe_r than the
Distribution Amount) (hereinafter called
- ''Adjustment Year") , the Distribution Amount shall
be increased (in the case of a contribution} or
decreased (in the case of a distribution) by an
amount equal to five percent times the fair market
or distributed (as
value of the assets contributed
of the date or dates of the contribution or
distribution), multiplied by ~~ fraction, the
S~ numerator of which is the number of days f rom the
contribution or distribution to t.hE~ end of the tax
year and the denominator of which is the days in
the tax year. Further, the year-End values for the
two tax years preceding the Adj ust:ment Year shall
be increased by the amount of :such addition, or
decreased by the amount of such distribution, for
Page 4
L ~-
purposes of C_:UILIjJI,Lt 1i~lg ~~sc average values usecz ~.n
determining the Distribution Amol.~nt for years
following the Adjustment Year.
5 . All computations of the t:.rust' s assets'
fair market value, or the tiTalue of any
contributions or distributions as set forth above,
shall include accounting income arld principal, but
r?o accruals shall be required. If the trust
includes assets for which there is not a ready
market, the Trustee shall adopt such method of
valuation as Trustee deems reasonable in Trustee's
discretion under the circumstance~~.
6. In addition to the Distri~~ution Amount as
determined above, the net accounting income earned
in my estate and allocable to the Y~esidue shall_ be
paid to the trust, and distributed to my spouse in
addition to the Distribution ~~mount set forth
above.
~, t
.
•
The distribution amounts from t e trus
7
~~ .
~`.~
~` shall be paid first from net accounting income,
' ~ next from net realized short term capital gains,
then from net realized long term c:a_~~ital gains, and
,,~ as necessary from the principal of the trust.
8. In the event my spouse disclaims all or
any portion of this Distribution Amount, such
disclaimed portion shall be payable to my son,
Page 5
llaniel iii . Roddick .
9. In addition to the Distribui~ion Amounts as
set forth above, my Trustee may distribute such
additional amounts, if any, of accounting income,
capital gain or principal to or fc>r the benefit of
my spouse as the Trustee, in 'Prustee's sole
discretion, deems advisable for the education,
health, support and maintenance in reasonable
comfort of my spouse , after taking into account
other income or assets which are available to them.
10. The goal of this trust is to provide a
relatively smooth flow of distributions to my
spouse, which distributions over ~~he anticipated
term of the trust may maintain to the extent
practicable real spending power :gin the face of
inflation . A second and relatE~d goal is to
maintain the real spending power of the principal
of the trust for the remainder b~en.ef iciaries . It
is my intent by using this trust (that is a trust
which does not distinguish in investment goal or
distribution between the production of income and
` i
. ' nate any
term ca ital gains, to elim
short and long P
conflict of interest which the Trustee might
otherwise experience between attaining the two
~; oals set forth above. I have set the distribution
g
rate at five percent based upon r~ny hope that, over
Page 6
~ ~_ L__ L., i. .•
long periods oz time, t~~lis c.zls~tl,~LL~.LOn Late can ue
maintained and still have the distributions
increase sufficiently to offset inflation . If this
goal is achieved, the principal of the trust will
also have maintained its value. I recognize that
these goals will not be attainable every year or
even over the long term. I accept that the setting
~f the five percent distribution :rate is my own
decision and recognize that the two goals set forth
above may not be attainable, even _Lf my Trustee
acts with reasonable prudence. If my Trustee
becomes convinced that the goals as set forth above
cannot be attained (due to subst~~ntial and long
term changes in the investment marketplace,
inflation, deflation, or other s~~cula-r aconomic
= change which would make a change izi the percentage
distribution rate used for determining the
Distribution Amount advisable) then my Trustee
shall have the discretion to modify such
distribution rate as Trustee may deem necessary.
Such a change in distribution rage shall be within
~' Tr_ustee given the
~~ the sole discretion of my
investment and distribution goals for this trust.
My Trustee shall not be held acc:o~untable for such
discretionary act by any party provided that said
Trustee has acted in good faith.
Page 7
11. My Trustee may apply any distributions
from this trust for the benefit= of my spouse,
should she by reason of age, illne~~s or any other
cause in the opinion of my TrusteE~ :oe incapable of
appropriately receiving or disbur~~i:ng it.
12. Upon the death of my spouse, the then-
remaining principal and any undistributed income
shall be distributed as follows:
a. The sum of $25,000.00 c<~sh to my son,
Daniel M. Roddick, to :be: held in trust
for the benefit of my grandson, Tyler
McCulloch P~oddick, to bE: used for Tyler' s
education or such other °xpenses as
trustee shall deem a~>p=~opriate . The
trust shall terminate wYlen my grandson
reaches the age of twenty- -five years and
any remaining funds shall_ be distributed
to him free of trust.
b. The balance of the afore--mentioned trust
shall be distributed to my son, Daniel M.
Roddick.
c . In the event my son, Dar.~iel M . Roddick,
predeceases me or dies on or before the
thirtieth day following my death, the
balance of the residue of my estate along
with the aforesaid spE~cific bequest of
Page 8
$25, 000.00 shall be di.~Lr-k~uted to <<<y
grandson, Tyler McCulloch Roddick.
Should the said Tyler McCulloch Roddick
be under the age of twE~nty-five years ,
the same shall not be distributed
outright, but the aforementioned
$25, 000.00 bequest and tl~e balance of the
residue of my estate shell be held in
trust by Orrstown ~3ank, Orrstown,
Pennsylvania, until my grandson, Tyler
McCulloch Roddick, reaches the age of
twenty-five Years, under the same terms
and conditions as set forth in
subparagraph 12a. above.
`t ITEM V : I devise and bequeath all the residue of my estate of
~,~
~~ every nature and wherever situate (the marital gift;) to my spouse,
John McCulloch Roddick, providing my spouse shG.l:L survive me by
thirty days.
~t~ ITEM VI: I remind my spouse, (and my :spouse's personal
~' actin under a power of attorney or
representative, guardian, agent g
other representative) that my spouse may disclaim any part or all
of any gift passing to my spouse hereunder or oth+?rwise as a result
~J
of or by virtue of my death. In particular it many be desirable for
my spouse to disclaim a portion of the marital gift or of other
property passing otherwise by reason of my death, and if my spouse
does so (either personally or by personal representative, guardian
Page 9
or agent acting under a power of attorney) tn.e d_LSCldllned portion
shall pass as herein provided for and as if my ~~pouse had died
before my death. This may be desirable even if t:he: result of such
disclaimer and passing should be the payment of Federal estate
taxes by my estate.
ITEM VII: Any property disclaimed by my spouse except as is
otherwise specifically provided otherwise elsewhere in this will or
any other appli rahl P and relevant document, sha='~1 pass under the
provisions of Item IV hereof.
ITEM VIII: Should my spouse predecease ine, I devise and
bequeath all the residue of my estate of every nature and wherever
situate as follows:
A. The sum of $25, 000.00 cash to my son, L>a7~ie1 M. Roddi ck,
to be held in trust for the benefit of my grandson, Tyler
McCulloch Roddick, to be used for Tyler-' s education or
such other expenses as trustee shall dE~em appropriate .
The trust shall terminate when my granc~son reaches the
-~~J age of twenty-five years and any remaining funds shall be
,~ distributed to him free of trust .
.`
B. The balance of the residue of my estate shall be
,_
\'~y distributed to my son, Daniel M, Roddick.
C . In the event my son, Daniel M . Roddick, predeceases me or
n j~
'~ dies on or before the thirtieth day following my death,
~;.
the balance of the residue of my est~.te along with the
aforesaid specific bequest of $25,, 000.00 shall be
distributed to my grandson, Tyler M:cC~ulloch Roddick.
Page 10
Should the said Tyle-r McCulloch Roddick ~~e under the age
of twenty-five years, the same shall not be distributed
outright, but the aforementioned $25,000.00 bequest and
the balance of the residue of my estate ~~hall be held in
trust by Orrstown Bank, Orrstown, Penns~yl.vania, until my
grandson, Tyler McCulloch Roddick, reaches the age of
twenty-five years , under the same terms azld conditions as
sct forth in suhparagraph 1 above,
ITEM IX: All Federal, state and other deat]z taxes payable
because of my death with respect to the property forming my gross
estate for tax purposes, whether or not passing under this will,
including any interest or penalty imposed in connE:ction with such
tax and not caused by negligent delay, shall be considered a part
of the expense of the administration of my estate a:n.d shall be paid
,,
` '~ from the non-marital portion of my estate under Item IV or under
Item V" without apportionment or right of -reimbur~~ement, except for
C the following specified death taxes, which shall be payable from
'fied herein (and if no source is specified, from
the sources specs
the source determined under the provisions of Chapter 37 of the
Pennsylvania Probate, Estates and Fiduciaries Code, as in effect on
.~ the date of execution of this will)
A . Any tax imposed by Chapter 13 of the Internal Revenue
e Code of 1986; as amended, (herein called "Code") (generat.i_on-
`~ skipping transfer tax) shall be payable :From the property
constituting such taxable transfer (except <~s may be provided
otherwise in later provisions hereof or .in relevant trust
Page 11
instrument);
B . Any tax resulting from the inclusion in my estate of
any qualified retirement plan benefit under Code Section
2039{b) (whether such amounts are included in the probate
estate) and any tax resulting from ex:cE~ss retirement
accumulation under Code Section 4980A(d), shall be payable by
the recipient (s) of any such benefits.
C. An~T tax resulting from the inclusion of any property
in my estate under Code Section 2044 and,,/or Code Section
2056 (b) (7) (certain property for which mari.i=al deduction was
previously allowed) , whether or not such taxers are statutorily
payable by my estate or the recipient of ~~n~y such property
shall be payable by the recipient of or from such property.
D. Any additional estate tax imposed. '~y Code Section
2032A (valuation of certain farms, etc., real property) shall
be payable by the qualified heir or heirs whosE=_ actions result
in the imposition of such additional estate t:ax.
J
E . Any tax resulting f rom the inclu~~i~an in my estate
under Code Section 2040 of the value of an.y jointly-owned
property shat l be payable by the surviving Ji o.int tenant (s ) of
such roperty.
p
F. A.ny tax resulting from the inclu:pion in my estate
~ >>nder Code Section 2042 of the proceeds cif life insurance
~`s enef iciar ( s ) of such. life insurance .
shall be payable by the b Y
G. Any tax resulting from the inclu;~ion in my estate
under Code Section 2041 of the value of any ~~roperty subject
Page 12
to a power of appointment, shall be payable by the appointee
of such property.
H. Any tax payable from a trust or other source which
instrument specifically provides therein for the payment of
taxes shall be paid as provided for ir.~ the relevant
instrument.
I. I authorize my executor, in myexecutor's sole
discretion, to make an election, in whole or in part, to cause
a Pennsylvania inheritance tax to be payable by my estate on
property passing to or for the benefit of my spouse or to
defer the Pennsyl crania inheritance tax on ~~,uch property . My
executor shall be without liability to anyo_rle for making or
failing to make such election.
ITEM ~: My executors, trustees and guardians, whether
masculine o_r feminine , s ingula-r or plural , individLial or corporate ,
as may from time to time be qualified or acting, (herein sometimes
referred to as "fiduciaries" or "fiduciary") shall have the
following powers i n addition to those vested in tYLem by law and by
other provisions of my will applicable to all property, whether
principal or income, including property r_e_Ld for minors,
exercisable without court approval, and effective until actual
distribution of all property:
~~ A. The executor and trustee shall have full power and
'` rust estate, to borrow
`\.s authority to manage and control the t
money from any source (including the power to borrow from a
Trustee or any affiliate of a Trustee) and to sell, exchange,
Page 13
lease, grant options, rent, mortgage, pledge, assign, transfer
or otherwise dispose of or encumber (incluciir~g sales to a
Trustee) all or any part of the trust estate (for terms
extending beyond the termination of the trust estate or
otherwise), upon such terms and conditions as the Trustee may
see fit. The Trustee may invest and reinve~~t all or any part
of the trust estate in such stocks, commo~~ and preferred
(i rlcl i_~d_ng the corporate stock of any corporate Trustee, or
any of its affiliates), debentures, shares or participations
in any common or mutual fund, interests. ._n any general,
limited, or limited liability partnership or_ in any limited
liability company, bonds, notes, repu_rcha:~e agreements and
deposit accounts of any kind f rom or i n an-y bank ( including
any corporate Trustee, or any of its affili~~tes) , savings and
loan association or other financial institLtt:ion or brokerage
firm, stock options and warrants, securities or other
property, real or personal, within or without the State of
Pennsylvania, domestic or foreign, whether or not of the class
or kind now or hereafter ordinarily approved or held to be
lawful for the investment of trust funds, a;~ the Trustee may,
in the Trustee ` s discretion, select . The Tru~~tee may make and
change such investments from time to time ~~ccording to the
Trustee ` s discretion, and the Trustee may continue to hold any
stocks, securities or other property received by the Trustee
hereunder without any duty of diversification. The Trustee
may determine whether any money or other property coming into
Page 14
~~
the Trustee's hands, concerning which there «iay be reasonable
doubt, shall be considered as a part of tree principal or
income of the trust estate, and may apport:ic~n between such
principal and income any loss or expenditurE~ in connection
with the trust estate as to the Trustee may seem equitable,
taking account of all present and future interests in the
trust estate. The Trustee shall not be oblig~~ted to amortize
premiums for trust securities out of income rio:r make additions
to income because of the purchase of securities at a discount .
The Trustee may exercise all options and. all conversion,
subscription, voting and other rights of ~~vhatsoever nature
held by or pertaining to any property, i ncludi:_n_g securities of
the corporate Trustee or any affiliate thereof , held b~y the
trust estate . Any corporate Trustee shall _r.~ot disclose the
name, address, or share position of the benej=icial owner (s) of
registered securities held by the corporate Trustee or its
nominees unless the beneficial owner(s) ree,.uest otherwise in
writing. It is the intention of the testator that the Trustee
shal_1 have the authority to invest in such ways as shall give
due consideration for the theories of total return investing,
modern portfolio theory, and the theory of ~~isk and return.
Accordingly, the Trustee is authorized to i_n~Jest in any type
of investment which plays an appropriate role in achieving t-he
investment goals of the trust, which investment shall be
considered as part of the total portfolio. It is my specific
direction that no category or type of investment shall be
Page 15
prohibited. I specifically do not wish to limit the universe
of trust investments in any way other than i~~~~ictated by the
Trustee's exercise of reasonable care, skill, ~~nd caution. In
connection with the Trustee's investment and management
decisions with respect to this trust, the Trustee is
specifically entitled to take in account gE~neral economic
conditions, the possible effect of inflation o~= deflation, the
ex%~ected tax consequences of investment decisions or
strategies, the role which each investment o~- course of action
may play within the overall trust portfolio wYlich may include
financial assets, interests in closely r~e:Ld enterprises,
tangible and intangible personal property, and real property;
the expected total return from income and the appreciation of
capital ; other resources of the benef iciarie~~ ; the needs for
'~ of income and preservation or
liquidity; regularity
~ appreciation of capital; and the asset's special relationship
~ .
~.
~~ or special value, if any, to the purposes of the trust .or o
r more of the beneficiaries. Nor shall my Trustee be
one o
limited to any one investment strategy or ttheory, including
.~
`~ modern portfolio theory, the efficient markets theory or
~~ otherwise, but shall be free to conside:r any appropriate
.\y
\'~ investment strategy or theory under all t.h~e circumstances.
1, The Trustee may delegate investment and ma:n.a.gement functions
~~~~ which a prudent person of comparable skil_l~s would properly
v d the Trustee delegate
delegate under the circumstances. Shoul
such function, the Trustee shall exercise reasonable care,
Page 16
skill and caution in selecting an agent, e~~tabli.shing the
scope and terms of the delegation consistentwith the purposes
and terms of the trust , and periodically reviev~~ing the agent' s
actions in order to monitor performance and ~~ompliance with
the terms of the delegation. Should such delegation occur as
set forth above, the Trustee who comp=Lies with the
. re uirements for delegation shall not bE~ liable to the
q
benef iciari es or to the trust for the decision~~ and actions of
the agent to which the function was dell=_gated, but by
accepting the delegation of a trust function by the Trustee of
this trust, the agent submits to the juri~~diction of the
courts of this state.
B . Any fiduciary hereunder may renounce or resign at any
time with or without cause.
C, No fiduciary shall be required to i=i1e bond, execute
any instrument appointing anyone to accept s~~z~vice of process,
or file inventories or accounts of any kind, except as ordered
~~ to do so by a court of competent jurisdiction or as required
.~ to do so under a state statute not providi.n<~ for release of
such requirements by a testator.
D. If there is no corporate fiduciary acting hereunder,
mY executor or trustee may designate a corpor~ition (regardless
of where organized or headquartered) with f ic~uciary powers to
act as agent or custodian hereunder, may d~el.egate to it such
~, duties as may be appropriate (incl.ucling investment
recommendation duties) , may pay to it reason~~ble compensation
Page 17
for its services, and may discharge it with or~ without cause.
E. To cause the title to any property held hereunder to
stand in the name of a nominee or nominees.
F. To compromise, submit to arbitration. or release any
claim of my estate or any trust hereunder against others and
to pay, compromise, or submit to arbitration any claim of
others against my estate or any trust hereunder.
r. To exerrisP any law-given option to pay death taxes
in installments, the payment of interest: due on such
installments to be a charge against princi~?a~_.
H. To exercise any law-given ~~ption to treat
administrative expenses either as income ta:~ or as estate tax
deductions, without regard to whether the c~x~~enses ~Nere~paid
from .principal or income.
i To receive other property of any t:y~~e acceptable to
the Trustee, including, but not in way of :Limitation, life
insurance proceeds, which may be devi_sE~d, bequeathed,
assigned, granted, conveyed or made payable t.o the Trustee by
any other person, to be added to and administered in
accordance with the then-applicable provisions of the trust or
trusts hereunder; provided, however, if more ~~han one trust is
then being administered hereunder, such other person may
~` ` ~ of transfer; arnong which trusts,
specify, in the instrument
and in what proportions such property shall be allocated.
J. To treat the entire trust estate a:~ ~~ common fund for
the purpose of investment, notwithstanding any provision
Page 18
. 1
herein for division thereof into separate shaz~e5 or ~~~ard~c
trusts.
K. Any trust beneficiary will have tr.e right at any
reasonable times to request of and receive from the Trustee a
written accounting of such matters pertaining to the
administration of the trust as are pertinent to that
beneficiary. In the Trustee's discretion, income tax returns
of the tryst may be used to satisfy such request .
T In making distribution of my estate, my executor (and
in making distribution of any trust, my Trustee) is hereby
granted the power to make non-prorata distz~i~~ution of assets
in. kind .
M. My Trustee in addition to other powers granted shall
have the authority to purchase life insurance on the lives of
anv or all beneficiaries of the trust. In <~.ddition, specific
authority or power is granted to pay premiums on existing
policies as well as those purchased after thE~ creation of the
trust even though said policies may not be c>wlzed by or payable
r ' iar Premiums may be paid from the
-.~ to the Trustee as bene~ic y
,~ income of the trust estate or, if necessary, from principal.
N. Should the principal of any trust rie=rein provided for
be or become so small that, in the Truetee's discretion,
~~ establishment or continuance of trust is inadvisable, my
~ tee or m personal representative ma~~ make immediate
Trus Y
~ distribution of the then-remaining pr_i:ncipal and any
. he erson or
accumulated or undistributed income outrig]zt to t p
Page 19
---,
,~
1
persons and in the proportio~is they are them. entitled to . If
any such person is then a minor, distribution. may be made to
that person's guardian, or to a person select:e~3 by the Trustee
to be custodian for such person until the <~ge of twenty-one
years under the Pennsylvania Uniform TransfE:r:~ to Minors Act .
O. To pay from the principal of the tru:~t created under
Item IV the funeral and administrative experisE~s of my estate,
the inheritance, succession and estate taxes imposed thereon
or payable thereby, and the debts thereof, including any
mortgage indebtedness.
P . To pay from the income or princi-p~~.1 of the trust
created under Item I V hereof , monthly payment~~ on any mortgage
on real estate owned by me individually or jointly with
another person at the time of my death, i f may Trustee deems it
advisable not to prepay any such mortgage.
enerall shall h~~ve full power and
O. My fiduciaries, g y,
authority to exercise all rights and privilegE:s appurtenant to
any property held by my fiduciaries, and to execute and
deliver any and all instruments which ma~% be necessary or
expedient in the exercise of the powers granted herein.
R. Any fiduciaries are authorized to make distributions
in any manner which said fiduciary deems to be in the best
interest of a beneficiary, including:
1. To such beneficiary directly, including mailing
to said beneficiary's last-known addre:~s or depositing to
the beneficiary's bank account or to a b<~nk account to be
Page 20
~.:~
opened by said bei~ef iciary ; and
2. Directly to third persons for the sole benefit
of such beneficiary or such benef iciar~,r' s dependents..
3. To an existing trust (or fund thereof) for the
sole benefit of such beneficiary and protiTiding no less a
right to present enjoyment of income and. principal that
would be the case under the trust hereunder; provided,
however, that as to the marital deduction share
distributable to my spouse as provided for herein if at
the time for distribution thereof my executor or trustee
believes, in said fiduciary` s discretion, that my spouse
i s i ncapable, because of age, illness o~~ other infirmity,
from appropriately receiving and disbursing such
distribution and should there not then. be a trust in
existence, the distribution into which w~~uld qualify for
the marital deduction for rederal estate taxes, then, in
that event, my executor may in my executor's discretion,
distribute the marital share to my Tr~u~~tee hereinafter
named to be held, administered and distributed for the
benefit of my spouse under the following terms and
conditions:
a. My spouse shall be paid the entire net
income from the principal in such periodic
installments as my Trustee shall. find convenient,
but at least as often as quarter-annually.
b. My spouse is hereby given power to appoint
Page 21
by will to my spouse' s estate or t.o others, in such
manner and for such estates as my spouse may
appoint, exercisable only by specific reference. by
my spouse alone and in all ejrents over the
principal of this trust.
,~
c. My spouse is' hereby given a power to
appoint from time to time during my spouse's
lifetime, to any of my then-living issue, either
outright or in trust, such amount; of the principal
of this trust as my spouse, in my spouse's sole
discretion, sha11_ designate by wr=~tten instrument
delivered to my Trustee during my spouse's lifetime
with specific reference hereto.
d . As much of the pri ncipa ~_ cf this trust as
my Trustee may from time t~~ time; in its
discretion, think advisable for the support and
maintenance in reasonable comfort of my spouse and
for the protection and preservat=ion of my spouse's
property or during illness or emE~rgency shall be
either paid to my spouse or elsE~ applied directly
for my spouse's benefit by my Trustee.
e. If my spouse shall fail, either wholly or
in part, to exercise effectively the power of
appointment created in either sub-paragraph b. or
c . hereof , the unappointed princi.p~~l shall be added
to, and thereafter treated aas part of, the
Page 22
principal of my residuary estate passing under It:elii
IV hereof .
f . If any provision of thi~~ section shall
result in depriving my estate of the marital
deduction for Federal estate ta:x purposes, such
provision is hereby revoked and this section shall
be read as if any portion thereof inconsistent with
allowance of the marital deduction for Federal
estate tax purposes is null and void.
4. The receipt for any distribution made in
conformity with the above provisions wi=L1 fully discharge
y
r,
`~~
Trustee from any further liability for t:h<~t distribtzti on.
5 . ~To fiduciary wi 11 exercise an.y discretiona_rv
authority to distribute principal o~~ income for the
benefit of any beneficiary to reimburse ~~ny governmental
entity which may have incurred expense for the benefit of
that beneficiary or pay any obligation of a beneficiary
if that expense or obligation is othe-rwi~~e payable by any
governmental entity or pursuant to any governmental
program of reimbursement or payment.
S. The situs of any trust created hereunder shall be in
the County of Cumberland and State of Penr.s~Tlvania, and all
questions pertaining to the construction or validity of the
provisions of this instrument shall be governE=_d by the laws of
that state (other than its conflicts of l~~.ws provisions) .
Despite the foregoing, the Trustee may, at any time and from
Page 23
ciitie to l,=idle, change tree situs of any trust created here,andcr
as the Trustee in Trustee' s sole discretior.~ ~~eems desirable
for the benefit or security of this trust. 'I`he Trustee may
elect (or decline to elect) the law o:f a different
jurisdiction and thereafter the court of such other
jurisdiction shall have the power to effectuate the purposes
of this instrument to such extent . The Trust.eE~ may change the
situs of any trust created hereunder, and ma~T change the situs
of one trust without changing the situs of other trusts
created hereunder. This is a continuing power which will not
be exhausted by its use. The determination o=- the Trustee as
to the change of situs shall be conclusive ~_nc~. binding on all
pe-rsons interested or claiming to be interested in any trust
hereunder.
~.
T . In any proceeding, legal or equ_table , normal or
informal, i n court or out of court, i n ~~n.y jurisdiction,
concerning any property or personal righ.t~~ or interests,
whether vested or contingent, which arise hereunder, the
interests of the following persons shall :be: represented as
k hereinafter provided for:
~`v 1, In the case of beneficiaries whose whereabouts
cannot be ascertained, Trustee or executor wi11 represent
them.
2. In the case of beneficiaries who are unborn,
unknown, incompetent, or otherwise subject to the
appointment of a guardian and a gu~~rdian for such
Page 24
~'
~~
beneficiary liar iiot beers designated, the follc~~ir~g
persons in the order named will represent them:
a . The oldest competent parent , or if there
is no competent parent, the o=Ldest competent
grandparent, of such beneficiary;
b. The oldest competent sibling;
c. The oldest competent child., or if there is
no competent child, the oldest competent child of a
sibling of such beneficiary;
3. Unborn beneficiaries will l:,e represented by
their parent who is related most closely to me. No
person will represent a beneficiary if i.t could or would
result in an increase of Federal o_r stat.e income, gains,
gift, death or other taxes.
U. If there are co-fiduciaries servi:~~g hereunder., they
may delegate any and all management duties and
responsibilities to orle of them. My co-fiduciaries may, for
example, designate one of them to maintain ~~ bank account or
accounts, and in that instance the signatLire of only that
fiduciary shall be required to open and maintain such account ,
to deposit funds to such account and to write checks on such
account.
V. Any individual fiduciaries shall nave jointly with
any corporate fiduciary all the power~~ given to the
fiduciaries, except that no individual. fiduciary shall
participate in the exercise of any discretion to determine the
Page 25
propriety or amounts of payments of income or~ ~~rincipal to the
individual fiduciary or to any person to whom the individual
fiduciary is legally obligated, or posse~~s any of -the
incidents of ownership with respect to any pol=icy of insurance
on the individual fiduciary's life, and the remaining
fiduciaries alone shall exercise that discr~vtion and possess
those incidents of ownership.
t~! . In the event of any disagreement be:t~veen or among my
fiduciaries, the decision of a majority of my fiduciaries
shall control. No fiduciary shall be liab=_e for any loss
resulting from a decision in which that f=i~~uciary did not
join.
~. It will be sufficient authority ~=or an y person to
deal with any successor or substitute Liduciary if the
successor delivers to that person a signed written statement
that the predecessor fiduciary is either deceased, has
' resigned or is because of some disability unable to act or
continue to act and that the fiduciary is t:h~~ duly appointed
successor fiduciary. Such authority will z-emain in effect
until such time (if any) that the predecessor fiduciary gives
written notice that it is no longer effective. During the
~'~` interim, acts taken pursuant to sucri authority will be valid
as if taken by or with the predecessor fiduciary directly.
Y. In establishing the inability of ~~ fiduciary to act
or continue to act hereunder, the statements of two licensed
doctors of medicine shall be sufficient to establish such
Page 26
incapacity and third persons are protected s_n relying upon
such statements without any further act or not.' ce . No further
act on the part of any party hereto or of any court shall~be
necessary to vest in a successor fiduciary the fiduciary
powers and duties in the supervision and rriarzagement of the
trust and/or estate.
ITEM XI: I appoint my husband, John McCu]_l~~ch Roddick, as
executor of tiii s my last will . Should my husband fail to qualify
or cease to act as appointed, I appoint my son, Daniel M. Roddick,
and Joel R. Zullinger, as co-executors of this r~ry last will.
ITEM XII : I appoint Orrstown Bank, Orrstown, ~?ennsylvania, as
trustee of any trusts created by this my last will.
ITEM XIII: I direct that my executor or trustee or their
successors shall not be required to give bond for the faithful
' performance of their duties in any jurisdiction.
.ITEM XIV: Any corporate fiduciary steal.L be entitled to
compensation based upon its regular schedule of: fees for such
services in effect from time to time during the pf~riod over which
its services are performed.
ITEM XV: Any individual fiduciary shall be entitled to
reasonable compensation for services rendered :from time to time
,~ and/or to reimbursement of out-of-pocket expenses.
~ S ITEM XVI: I specifically give unto my ;~ttorr_ey; Joel R.
Zullinger, Esquire, or if unable or unwilling to act, Hamilton C.
Davis, Esquire, (or the successor to their firm), as the case may
be, in my attorney' s sole discretion, the right: and authority to
Page 27
revoke the appointment of any corporate fiduciary dE~signated in my
will or in any codicil thereto, provided that my at.torney~co ~ ult
:~;~ ~ ~ ~t'~', ; ~~ ~~
prior to doing so with J~~t~~ , ~t ~t~~~~ ~.nd my attorney
simultaneously appoint a substitute corporate fidu_c:Lary. Anything
herein to the contrary notwithstanding, it is mzr intention that
there shall at all times be serving hereunder at l.e~~st one trustee
who is not a`related or subordinate party' as defined in Code
Section 5 72 (c) , and is not a "'member of the family" as defined in
Code Section 2'704 (c) (2) , wi th respect to me or any beneficiary
hereunder .
ITE1_~I XVIT_ ~ 1he interests of the beneficiarie;~ .hereunder shall
not be subject tc anticipati on or to -.roluntar`r or i nvolunta~~y
alienation.
IN ~~TITNE~S ~~THEREOF, I hereunto set my hand and seal to this my
last will and testament, written on twenty-nine s~~eets of paper,
~'°' 19 ~'~~~ .
dated this ~ day of ~ ~,~. ~ _
/'_ ,-~
~ / ~ ~ tip: ~..~ ~.~-~t~~ ~ ~ ~ S EAL )
Signed, sealed, published and declared by t:he above-named
testatrix as and for her last will and testament in our presence,
who in her presence, at her request and in the presence of each
other have hereunto set our hands as attesting witnesses.
w. ~ ~ ~//// tf/`
~x~ ,~~
Page 28
We , Arlene Wi rimer ~oddick, .~a~~ ~- ~ ~~~i-~ ~~ ~ ~~~ and
~N~ m, ~i2,oa,~~S the testatrix and the witnesses
respectively, whose names are signed to the attac:h~d or foregoing
instrument, being first duly sworn, do hereby ~3eclare to the
undersigned authority that the testatrix signed a~1d executed the
instrument as her last will and testament and that she executed it
as her free and voluntary act for the purposes therein expressed
and that each of the witnesses, in the presence and hearing of the
said testatrix, signed the will as witnesses ar~d to the best of
their knowledge, said signer was at that time eightE~en years of age
or o1_der, of sound mind and under no constraint or Undue influence .
% /r ..~%' f /.lam , ~ r~ e ~ J
Testatrix
~ d ~ ~ ,
Witnes ~
Witne
Subscribed, sworn to and acknowledged
before me by the above-named signer and
subscribed and sworn to before me by the
above-named witnesses this ~ ~' day of
No ary Public
,,~
~ F~ ~ a_~ 'y iz ~T ~~
~: ~ ~~
• -. ~ n
Page 29
Pa a #1
SUMMARY OF SALIENT FEATURES
Subject Address 601 Baltimore Road
Legal Description Deed Book Vol. 193 page 76
City Shippensburg
County Cumberland
State Pa
Zip Code 17257
Census Tract 0131.02
Map Reference 25420
Sale Price $ n/a
Date of Sale N/A
Borrower Estate of Arlene W. Roddick
Client Joel R Zullinger Attorney
Size (Square Feet) 2,162
Price per Square Foot $
Location Average
Age 55
Condition Average
Total Rooms 7
Bedrooms 3
Baths 1.5
Appraiser Tim L Ausherman GAA
Date of Appraised Value 5/6/2010
Opinion of Value $ 150,000
Form SSD2 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Ausherman Bros. Real Estate Inc. a e #2
Borrower Estate of Arlene W. Roddick
File No.
_
Pro a Address 601 Baltimore Road
_
Ci Shippensburg County Cumberland State Pa Zi Code 17257
Client Joel R Zullin er Attorne
APPRAISAL AND REPORT IDENTIFICATION
This Appraisal Report Is ~ of the following types:
^ Self Contained (A written report prepared under Standards Rule 2-2(a) , persrant to the Scope of Work, as disclosed elsewhere in this report.)
~~ Summary (A written report prepared under Standards Rule 2-2(b) , persuant to the Scope of Work, as disclosed elsewhere in this report.)
^ Restricted Use (A written report prepared under Standards Rule 2-2(c) ,persuant to the Scope of Work, as disclosed elsewhere in this report,
restricted to the stated intended use by the specified client or intended user.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
-the statements of fact contained in this report are true and correct.
-the reported analyses, opinions, and conclusions are limited only by the reported assumptions and lim ting conditions and are my personal, impartial, and unbiased professional
analyses, opinions, and conclusions.
- I have no (or the spec'rfied) present or prospective Interest in the property that is the subject of this rep~~rt and no (or the specified) personal interest with respect to the parties
involved.
- I have no bias with respect to the property that Is the subject of this report or to the parties involv~sd with this assignment.
- my engagement in this assignment was not contingent upon developing or reporting predeterminrd results.
- my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the
client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
- my analyses, opinions, and conclusions were developed, and this report has been prepared, in conforrnity with the Uniform Standards of Professional Appraisal Practice.
- I have (or have not) made a personal inspection of the property that is the subject of this report. (If more than one person signs this certification, the certification must clearly
specify which individuals did and which individuals did not make a personal inspection of the appra(sed property.)
- no one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions, the name of each individual providing significant real
property appraisal assistance must be stated.)
Comments on Appraisal and Report Identification
Note any USPAP related issues requiring disclosure and any state mandated requirements:
APPRAISER: ~ ~ SUPERWISORY APPRAISER (only If required):
,;
Signature: ~ Signature:
Name: Tim L use n GAA _ Name: _
Date Signed: 8/6 10 Date ;iigne~i:
State Certification #: GA000149L State Certification #:
or State License #: or State License #:
State: PA _ State: _
Expiration Date of Certification or License: 6/30/2011 Expiration [late of Certification or License:
Supervisor!i Appraiser inspection of Subject Property:
Effective Date of Appraisal: 5/6/2010 ^ [lid Nnt ^ Exterior-only from street ^ Interior and Exterior
Form IDO6 - °WinTOTAL" appraisal software by a la mole, inc. -1-800-ALAMODE
Ausherman Bros. Reai Estate Inc. Pa a #3
R ESIDENTIAL APPRAISAL SUMMARY REPORT FIIeNo.:
Pro a Address: 601 Baltimore Road Ci : Ship_~ensbur State: Pa Zi Code: 17257
~ Coun :Cumberland Legal Description: Deed Book Vol. 193 page 76
Assessor's Parcel #: 39-35-2385-020
Tax Year: 2010 R.E. Taxes: $ 2 131 S ecial Assessments: $ Borrower if a licable : Estate of Arlene W. Roddick
~ Current Owner of Record: Estate of Arlene W. Roddick Occupant: Owner ^ Tenant Vacant ^ Manufactured Housin
Pro'ect T e: PUD Condominium Coo e_rative ^ Other (describe) _ HOA: $ er ear ^ er month
Market Area Name: Shi ensbur Ma Reference: 25420 Census Tract: 0131.02
The ur ose of this a raisal is to develo an o inion of: Market Value (as defined), or cther a of value describe
This re ort reflects the followin value 'rf not Current, see comments : ^ Current the Ins ectiorl Date is the Effective Date ®Retros ective Pros ective
z A roaches develo ed for this a raisal: Sales Com orison A roach Cost A roar,] Income Approach (See Reconciliation Comments and Sco a of Work
~ Pro a Ri hts A raised: Fee Sim le Leasehold ^ Leased Fee Other describe
~ Intended Use: The intended use is for estate of Arlene Roddick
rn
a _
Intended Users b name or e : Estate of Arlene Roddick
Client: Joel R Zullin er Attorne _ Address: 14 North Mairt Street 310 Chambersbur Trust Co Buildin Chambersbur
A praiser: Tim L Ausherman GAA Address: 229 North Second Street Chambersbur PA 17201
Location: Urban Suburban Rural
Built up: ^ Over 75% ®25-75% ^ Under 25% Predominant
Occupancy One-Unit Housing
PRICE AGE Present Land Use
One-Unit 70 % Change in Land Use
®Not Likely
z
O Growth rate: ^ Rapid ®Stable ^ Slow ®Owner 95 $(000) (yrs) 2-4 Unit % ^ Likely * ^ In Process
~ Property values: ^ Increasing ®Stable ^ Declining ®Tenant 5 7E~ Low 10 Multi-Unit % * To:
Demand/supply: ^ Shortage ®In Balance ^ Over Supply ®Vacant (0-5%) 250 Hi h 160 Comm'I %
N Marketin lime: ^ Under 3 Mos. ®3-6 Mos. ^ Over 6 Mos. Vacant >5% 140 Pred 75 vacant 30 %
G
a Market Area Boundaries, Description, and Market Conditions (including support for the above characteristics and trends): Bounded by Route 11 to the north,
Cleaversburg Rd to the south, Walnut Bottom Rd to the east and Mainsville ftd to the west. The subject property is located within a
~ neighborhood of like homes alon Baltimore Rd homes constructed from the rnid 1950s through present day.
Q
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Dimensions: 130 x165
Site Area: 21 450 S .Ft.
_
Zoning Classification: Residential _ Description: Residential use
Zonin Com liance: ®l_ec~al ^ Le al nonconformin randfathered ^ Ille al ^ No zonin
Are CC&Rs a licable? ^ Yes ^ No ^ Unknown Have the documents been reviewed? ^ Yes ^ No Ground Rent if a licable $ /
Highest & Best Use as improved: ®Present use, or ^ Other use (explain)
Z
O Actual Use as of Effective Date: Residential use Use as appraised in this report: Residential Use
Summary of Highest & Best Use: Highest and best use presently is a single fami!I~me.
F-
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~ Utilities Public Other Provider/Description
Electricity ® ^
Gas ® ^
Water ® ^
Sanitary Sewer ® ^
Storm Sewer ® ^ Off-site Improvements Type Public Private
Street Asphalt __ ® ^
Curb/Gutter none __ ^ ^
Sidewalk none _ ^ ^
Street Lights street __ ® ^
Alle none _ ^ ^ Topography Level
Size t ical
Shape rectangular
Drainage adequate
View Avera e
Other site elements: ~ Inside Lot ®Corner Lot ^ Cul de Sac ^ Under round Utilities ^ Other describe
FEMA S ec'I flood Hazard Area ^ Yes ®No FEMA Flood Zone X FEMF~ MaP # 42041 C0361 E FEMA Ma Date 3/16/2009
Site Comments: Site is rectangular in shape.
General Description
# of Units 1 ^ Acc.Unit F~rterior Description
Foundation Block/av Foundation
Slab none Basement None
Area Sq. Ft. 1 056 Heating Rad
Type Rad
# of Stones 1 Exterior Walis Stone Fr/av Crawl Space Part % Finished 5 Fuel elec
Type ®Det. ^ Att. ^ Roof Surface Alumn/av Basement Part Ceiling the
~n
z Design (Style) ranch
~ZJ Existing ^ Proposed ^ Und.Cons.
Actual Age (Yrs.) 55
Effective A e rs. 30 Gutters & Dwnspts. alum/av
Window Type Double Hun /av
Storm/Screens Yes/av Sump Pump ~~
Dampness ~~
Settlement noneobs
Infestation None obs Walls anel
Floor the
Outside Entry no Cooling
Central
Other 1 B.I.
g
~ Interior Description
Floors Hdw c t vin/av
Walls Ip aster/av Appliances
Refrigerator ®
Range/Oven ~ Attic ^ None
Stairs ^
Drop Stair ® Amenities
Fireplace(s) # _ 1 Woodstove(s) #
Patio non= Car Storage ^ None
Garage # of cars ( 1 Tot.)
Attach. 1
~ Trim/finish wood/av Disposal ^ Scuttle ^ Deck None Detach.
Bath Floor Vin I/av Dishwasher ® Doorway ^ Porch Porr;h Blt.-In
Bath Wainscot fiber las/av Fan/Hood ^ Floor ® Fence Horne Carport
LL Doors hollGav Microwave ^ Heated ^ Pool None Driveway
O
z Washer/D er ^ Finished ^ _ Surface as halt
~ Finished area above rode contains: 7 Rooms 3 Be drooms 1
5 Baths 2 162 S ware Feet o f Grass Livin Area Above Grade
a .
Additional features: Stone and frame exterior, alumn roof, windows were repl2iced in July 2010, older dbl hung windows were in place in May.
a
w
~ Describe the condition of the property (including physical, functional and external obsolescence): Overall condition is average interior is dated, would have
limited appeal and is located along a heavily traveled street. At time of inspection property basement had standing water a section of basement
has some finish however is older paneling with the floor with dampness to basement does not add value.
m R ES I D E NTI AL Copyrlght® 2007 by a la mode, inc. This form may be reproduced urunmodified without written permission, however, a la mode, Inc, must be acknowledged and credited.
Form GPRES2 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE 3/2007
Pa a #4
R ESIDENTIAL APPRAISAL SUMMARY REPORT FIIeNo.:
My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data Sources : Cumberland Count Courthouse
O
1st Prior Sub'ect Sale(Transfer _
Analysis of sale,~ransfer history and/or any current agreement of sale/listing: The subject property has not transferred
~ Date: 1/22199 within the past three years. Comparables sales have not sold 12 months prior to current sale.
~: Price: 1
LL Sources :Courthouse
z 2nd Prior Sub ect Sale/Transfer
t- Date:
Price:
_
"> Sources
SALES COMPARISON APPROACH TO VAL UE if develo d The Sales Com ariso~froach was not develo ed for this a raisal.
FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE S ALE # 2 COMPARABLE SALE # 3
Address 601 Baltimore Road
Shi ensbur Pa 17257 623 Brenton St
Shi ensbur Pa 17257 _
790 Prospect Ave
~r ensbur Pa 17257 140 Park Place East
Shi ensbur Pa 17257
Proximi to Sub'ect 0.79 miles NW 2.4:1 miles W 2.25 miles W
Sale Price $ n/a $ 155 000 _ $ 175 000 ' $ 175 000
Sale Price/GLA $ /s .ft. $ 106.24 /s .ff. $ 111.18 /s .ft. $ 107.10 /s .ft.
Data Sources Ins ection MLS MLS MLS
Ver'rfication Sources Courthouse Courthouse Courthouse Courthouse
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + - $ Ad'ust. _ DESCRIPTION + - $ Ad'ust. DESCRIPTION + - $ Ad'ust.
` ~
'` Sales or Financing
Concessions N/A
N/A Conv 32 DOm
No concess Conv 34 DOM
N/A Conv 214 DOM
Concess 10000
-10 000
Date of Sale/Time N/A 12/28/2009 3/31 /2010 7/1 /2009
Ri hts A raised Fee Sim le Fee Sim le Fee Sim le Fee Sim le
Location Avera a Good -5 000 Good -5 000 Good -5 000
Site .50 Acre .43 acre 48 .Acre ..23 Acre +2 000
View Avera a Avera a Avera a Avera e
Desi n S le ranch ranch ranch ranch
Quali of Construction Stne frame/av BricWav -5 000 Brk al/av Brick/av -5 000
'i A e 55 47 47 33
Condition Aver a a Avera a Superior -5 000 Su e rior -5 000
Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrrns Baths Total Bdrms Baths
Room Count 7 3 1.5 6 3 2 -2 500 7 4 2 -2 500 7 3 2 -2 500
' Gross Liv(n Area 2 162 s .ft. 1,459 s .ft. +14 060 1 574 s .ft. +11 760 1 634 s .ft. +10 560
Basement & Finished
Rooms Below Grade Part Basement
Rec dam base Full Basement
Unfinished
-2 SOO _
Full Basement
Unfnished
-2 500 Full Basement
Unfinished
-2 500
Functional Utili Avera a Avera a 'Avera a Avera e
Heatin /Coolin Rad/ 1 B.I rad/ac -3 000 'Base.ac -3 000 Base/ac -3 000
z Ener Efficient ftems Sw Thermo wind 'Thermo wind Thermo wind
Q Gara a/Ca ort 1 car 2 car -6 000 ''2 car -6 000 2 car -5 000
~ Porch/Patio/Deck orch Porch Por~:h Porch atio
a Kitchen Std kitchen Std Kitchen U traded Kitchen -5 000 Std Kitchen
Q Fire laces 1 f l 1 f l 2 f l -2 000 1 f l
p Other None None Nore None
N
Q
g Net Ad'ustment Total ^ + - $ -9 940 [ + - $ -19 240 + - $ -25 440
~
m Adjusted Sale Price
of Com arables Net 6.4 %
Gross 24.6 '' %
$ 145 060 IVet 11.D %
Grosse 24.4 %
$
155 760 Nef 14.5 96
Gross 28.9 %
$
149 560
Q
rn Summary of Sales Comparison Approach Comparable sales are not located alonc~heavily traveled streets. All comparables are smalle
subject property however all have central air and 2 car garages as well as full bsasments that do not have a moisture problem. r in size than
. - Indicated Value b Sales Com arison A roach $ 150 000
m RESI DE NTIAL Copyright® 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
form GPRES2 - "WinTOTAL" aooralsal software by a la mode. inc. -1-SOn-AI AMOfIF 3/2007
R ESIDENTIAL APPRAISAL SUMMARY REPORT
FIIeNo.:
COST APPROACH TO VALUE if develo d The Cost A roach was not develo ed for this a raisal.
Provide ode uate information for re Iication of the followin cost figures and calculations. _
Support for the opinion of site value (summary of comparable land sales or other methods for estimaf ng site value): The cost approach is not applicable for this
propertv due to the ape and condition of the improvements.
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE ---.--...._ ...............__.-......-........-...-.....-.....- _$
v Source of cost data; D'JVELLING S .Ft. @ $ - . _$
p Quali ratin from cost service: Effective date of cost data: S .Ft. $ _$
a Comments on Cost Approach (gross living area calculations, depreciation, etc.): _ S .Ft. $ _$
N
S.Ft. $ .. _$
-
O . _$
v Gar~~Car art S .Ft. $ _$
Total Estimate of Cost-New . _$
_ Lt:ss Ph sical Functional Extemai
De r~eciation =$
D~iated Cost of Im rovements .........._.-.-.._...._ ................... _$
".4s-is" Value of Site Improvements ......__.__ ............. _. _$
_ _$
_$
Estimated Remainin Economic Life if re wired : Years _
INDICATED VALUE BY COST APPROACH .................._...-.._......... _$
x INCOME APPROACH TO VALUE if develo ed The Income A roach was not develo~etl for this a raisal.
vR Estimated Monthl Market Rent $ N/A X Gross Rent Multi lier NI/A = $ N/A Indicated Value b Income A roach
a Summary of Income Approach (including support for market rent and GRM): -
a
-
d
W -
-
O
V
-
z
PROJECTINFORMATION FOR PUDs if a Ilcable The Subject is art of a PlannE.d Un t Develo ment.
' Le al Name of Pro'ect:
a Describe common elements and recreational facilities: -_ -
a -
Indicated Value by: Sates Com orison Approach $ 150 000 Cost Approach (if developed) $ N/A Income Ap roach (if develo d) $ N/A
Final Reconciliation Emphasis was placed on the sales comparison approach to value which is best reflective of market value. Cost approach
approach was not developed due to ape of the subject property and amount of depreciation that has taken place. Income approach was
developed and provides additional support for the indication of value illustrated in the sales comparison approach.
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This appraisal is made ®"as is", ^ subject to completion per plans and specifications on the basis of a Hypothetical Condition that the improvements have been
-' completed, ^ subject to the following repairs or alterations on the basis of a Hypothetical Condition that the repairs or alterations have been completed, ^ subject to
o the following required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair:
v
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^ This re ort is also sub'ect to other H othetical Conditions and/or Extraordina Assumptions as s ecified in the attached addenda.
Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions,
and Appraiser's Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject
of this report is: $ 150,000 , as of: 5/6/2010 ,which is the effective date of this appraisal.
If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda.
~ A true and complete copy of this report contains pages, including exhibits which are considered an integral part of the report. This appraisal report may not be
w properly understood without reference to the information contained in the complete report.
~ Attached Exhibits:
v ^ Scope of Work ^ Limiting Cond./Certifications ^ Narrative Addendum ^ Photograph Addenda ^ Sketch Addendum
^ Map Addenda ^ Additional Sales ^ Cost Addendum ^ Flood Addendum ^ Manuf. House Addendum
a ^ H othetical Conditions ^ Extraordina Assum lions ^
^ ^
<-- _
Client Contact: Client Name: Joel R Zullinger Attorney
!' E-Mail: Address: 14 North Main Street 310 Chambersbur Trust Co Buildin Chamberst
APPRAISER SI~PERVISORY APPRAISER (If required)
or CO-APPRAISER (if applicable)
W
~
a
Appraiser Name: Tim L Ausherman GAA Supervisory or
Co-Appraiser Name:
~ Company: Ausherman Bros. Real Estate Inc. Cornpanl~:
N Phone: j717) 264-6715 x202 Fax: {717) 264-4973 Phcne: _ Fax:
E-Mail: timapprCcD_pa.net E-Nlail:
Date of Report (Signature): August 06, 2010 Date of Peport (Signature):
License or Certification #: GA000149L State: PA LicE;nse nr Certification #: State:
` Designation: Designation:
Expiration Date of License or Certification: 6/30/2011 Expiration Date of License or Certification:
Inspection of Subject: ®Interior & Exterior ^ Exterior Only ^ None Inspection of Subject: ^ Interior & Exterior ^ Exterior Only ^ None
Date of Ins ection: 8/6/10'0 Date of Ins ection:
Copyright® 2007 by a la mode, inc. This farm may be reproduced mmadified without wdtten permission, however, a la mode, inc. must be acknowledged and credited.
m R ES I D E NTI A L
form GPRES2 - "WinTOTAL" appraisal software by a la mode. inc. -1-800-ALAMODE 3/2007
Pa a #6
Subject Photo Page
Borrower Estate of Arlene W. Roddick
Pro a Address 601 Baltimore Road _
Ci Shi ensbur Coun Cumberland State Pa Zi Code 17257
Client Joel R Zullin er Attome
Subject Front
601 Baltimore Road
Sales Price n/a
Gross Building Area
Age 55
Subject Rear
Subject Street
Form PIC3x5.SC - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Comparable Phato Paae
Pa a #7
Borrower Estate of Arlene W. Roddick _
Pro a Address 601 Baltimore Road _
C~ Shi ensbur County Cumberland State Pa Zi Code 17257
Client Joel R Zullin er Attorne
^.~ -- ~~
~_
~xyr . " Fir ~~
K ~r~,
_'~t'
Comparable 1
623 Brenton St
Sales Price 155,000
Gross Building Area
Age 47
Comparable 2
790 Prospect Ave
Sales Price 175,000
Gross Building Area
Age 47
Comparable 3
140 Park Place East
Sales Price 175,000
Gross Building Area
Age 33
Form PIC3x5.CC - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Pa a #9
Building Sketch
Borrower Estate of Arlene W. Roddick
Pro a Address 601 Baltimore Road _
C Shi ensbu Coun Cumberland State Pa Zi Code 17257
Client Joel R Zullin er Attorne
6a' la'
Bedroom Bedroom Kitchen Dining Room
m Garage „N,
1/2 Bath
Bedroom Living Room
Bedroom
Foyer
12' ~ ~ 33' 14'
19'
Blotch by Ap"zMMkr^'
Form SKT.BIdSkI - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Pa a #10
Building Sketch
Borrower Estate of Arlene W. Roddick
Pro a Address 601 Baltimore Road _
C~ Shi ensbur Coun Cumberland State Pa Zi Code 17257
Client Joel R Zullin er Attorne
AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN
Code Description Net Size Net Totals Bnrakdown Subtotals
GLAl First Floor 2162.0 2162.0 Firet Floor
GAR Garage 448.0 448.0 19.0 x 6.0 114.0
32.0 x 64.0 2048.0
Net LIVABLE Area (rounded) 2162 2 Items (rounded) 2162
First Floor GLA1 Garage GAR
19.0 x 6.0 = 114.0 32.0 x 14.0 448.0
32.0 x 64.0 = 2048.0
Area total (rounded) = 2162 Area total (rounded) = 448
Form SKT.BIdSkI - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Location Map
Pa a #8
Borrower Estate of Arlene W. Roddick _
Pro a Address 601 Baltimore Road _
Ci Shi ensbur Coun Cumberlanci_ State Pa Zi Code 17257
Client Joel R Zullin er Attorne
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Intraday Data provided by Thomson Reuters end subject to terms of use.
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SEHK intraday data is provlded by Thomson Reuters and is at least 80-minutes delayed.
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i,~r~ Enter Symbol: BK EnterDate: 5/06/10
Vanguard Wellington;Inv, VWELX Historical Quote -(NASDAQ Stock F;xc;hange Capit... Page 1 of 1
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ti)~~ Enter Symbol: VWELX EnterDate: 5/06/10
Vanguard Weilington;lnv
Thu, May O6. 2010
C'cs;r:g Pr ce 29.03
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Intraday data delayed 15 minutes for Neadaq, end 20 minutes for other exchanges.
Dow Jones IndexesSM from Dow Jones 8 Company, Inc.
SEHK intraday data is provided by Thomson Reuters and is et least 80-minutes delayed.
All quotes are in local exchange time.
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http://bigcharts.marketwatch.com/historicaUdefault.asp?symb=VWELX&closeDate=S%2F0... 5/3/2011
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provided by NASDAO.
More Information on NASDAQ traded symbols end their current financial status.
Intraday data delayed 15 minutes for Nasdaq, end 20 minutes for other exchanges.
Dow Jones IndexesSM from Dow Jones & Company, Inc.
SEHK intraday date is provided by Thomson Reuters and is et least 80-minutes delayed.
All quotes are in local exchange time.
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http://bigcharts.marketwatch.com/historical/default.asp?symb=VIVAX&closeDate=S%2F6... 5/3/2011
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Intraday Deta provided by Thomson Reuters and subject to terms of use.
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provided by NASDAQ.
More information on NASDAQ treded symbols end their current financial status.
Intraday date delayed 15 minutes for Nasdaq, end 20 minutes for other exchanges.
Dow Jones IndexesSM from Dow Jones 8 Company, Inc.
SEHK intraday date is provided by Thomson Reutere and is et least 80-minutes delayed.
All quotes are in local exchange time.
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http://bigcharts.marketwatch.comlhistoricaUdefault.asp?symb=V WNFX&clo~seDate=S%2F... 5/3/2011
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Home Quotes News Industries Markets Historical Quotes BlpReports
This Historical Quotes tool allows you to look up a security's exact closing price.
Simply type in the symtwl and a historical date to view a quote and mini chart for that security.
~; -~;+ Enter Symbol: SMLAX EnterDate: 5/06/10
DWS Mgd Muni Bond;A
Thu, May 06 2010
C osing P~'.ce --------- ----- _ 9.07
Coerr 9.07
High: 9.07
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Voiur^~e. n/a
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Copyright 2011 MarketWatch, Inc. All rights reserved.
By using this sRe, you agree to the Terms of Use and Privacy Policv (updated 418/08).
Intraday Data provided by Thomson Reuten end subject to terms of use.
Historical and current end-of-dey data provided by Thomson Reuten. Intndey data delayed per exchange requirements. Dow Jones Indexes (SM) from Dow Jones 8 Company, Inc. All quotes are in local exchange time. Real time lest sale data
provided by NASDAQ.
More information on NASDAQ traded symbols and their current financial status.
Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges.
Dow Jones IndexesSM from Dow Jones 8 Company, Inc.
SEHK Intraday data Is provided by Thomson Reuten end is et least 80-minutes delayed.
All quotes are in local exchange time.
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http://bigcharts.marketwatch. comlhistorical/default. asp?symb=SMLAX&closeDate=S %2F0... 5/3 /2011
DWS Growthr&Income;A, SUWAX Historical Quote -(NASDAQ Stock F;xc;hange Capit... Page 1 of 1
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This Historical Quotes tool allows you to look up a security's exact closing price.
Simply type in the symbol and a historical date to view a quote and mini chart for that security.
)''' Enter Symbol: SUWAX EnterDate: 5/06/10
DWS Growth&Income;A
Thu, May O6. 2010
C~csirg Prce --_-_.__-..---------A._._....__ ~~_.___._.._. T--- 14.63
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Coen 14.63
Nlgn 14.63
Lo:a~. 14.83
Volume n/a
-----------------___...,-----------------------......---------------~------_-_~____-_-_.-__--_-----_ _-_-___-_.__...__._----------------._-_._._....._...._..._-----__._........_..,,..,......... No Splits
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Intraday Deta provided by Thomson Reuters and subject to L,rms of usa.
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provided by NASDAQ.
More information on NASDAQ traded evmhola and their current financial status.
Intraday date delayed 15 minutes for Nasdaq, end 20 minutes for other exchanges.
Dow Jones IndexesSM from Dow Jones & Company, Inc.
SEHK intraday data is provided by Thomson Reuters and is at least 80-minutes delayed.
All quotes are in local exchange time.
http://bigcharts.marketwatch. com/historical/default.asp?symb=SUWAX&closeDate=S%2F... 5/3/2011
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