HomeMy WebLinkAbout08-18-11.fir 1505610105
REV-1500 EX (oz-u) (FI) ^!~
T.1i OFFICU\L USE ONLY
PA Department of Revenue „~„~ County Cade Year File Number
__ _ ..
Bureau of Indivtdual Taxes INHERITANCE TAX RETURN -
PO BOX 280601 ;
Harrlsbura PA i7i28-o6Di RESIDENT DECEDENT ~ ~ ' ' i' ~; i ~'~ Jw ~
ENTER DECEDENT INFORMATION BELOW
Socal Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
206-12-9757 :11/23/2010 ~ 04/08/1925
Decedent's Last Name Suffix Decedent's First Name MI
!BORDNER iLOUETTA E
(If Applicable) Enter Surviving Spouse's information Below
Spouse's Last Name Suffix Spouse's First Name MI
NIA '
Spouse's Social Security Number
-- - --- - -
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
OD 1. Original Retum O 2. Supplemental Return O 3. Remainder Return ([late of Death
Prior to 12-13-82)
O 4. Limited Estate O 4a. Future Interest Compromise (date of O 5. Federal Estate Tax Return Required
death after 12-12-82)
~ 8. Decedent Died Testate O 7. Decedent Maintained a living Trust ~ 8. Total Number of Safes Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust.)
O 9. Litigation Proceeds Received O 10. Spousal Poverty Credit (Date of Death O 11. Election to Tax under Sec. 9113(A)
Between 12-31-91 and 1-1-95) (Attach Schedule O}
CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTUIL TAX INFORMATION SHOULD BE DIRECTED T0:
Name DayBme Telephone Number ,
M&T Bank (717) 240-4504 _ : +; ~ -: -
_.:
REGISTER OF WILESIAJ$E SBLY `
;
„
-- f -t
~7 ~ _
-
First Line of Address ~ ~- ;_.,~
__ _....._..... _ ___ __ _ _ _ _ ___ _ _.. J
~
Attn. Jane F. Burke, VP =
'~
__.
_...... ....... ...... .._....... ............ .. ..... ..._......... ....._ ........... .... ..._................. - _ i~~1
Second Line of Address ~ ; ~ . j
_._.. __ . _ ........_..... _.._..... __ __ __ __._ _v
One West High Street
..
'
__._ _. _. _....... __. _ ..__..
City or Post Office __._ _..... __... _.
DATE FILED
State ZIP Code -
Carlisle PA '! :17013
Correspondent's e-mail address: jburke@mtb.COm
Under penalties of perjury, I deGare that I have examined this rum, induding accanpanying schedules and statements, and to the best of my ImrnMedge and belieT,
it is true, correct and complete. Dedaretlon of preperer other than the personal represehtatlva is based on at information ~ whk~t preparer has any knowledge.
SIGNq~uRE OF PeI~ RESPO SIEiLE FOrR (LING RETURN ~ DATE
One 14Nest High St., Carlisle, PA 17013 Monte L. Bordner, 61 Aspen Rd., Diilsburg, PA 17019
SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE
ADDRESS
PLEASE U8E ORIGINAL FORM ONLY
Side 1
15D5610105 1505610105 ,
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1505610205
REV-1500 EX (FI)
Decedent's Social Security Number
Decedent's Name: LOUETTA E. BORDNER 206-12-9757
RECAPITULATION
1. Real Estate (Schedule A) ........................................... .. 1. 204,000.00
2.
.....................................
Stocks and Bonds (Schedule e) 2.
.. 574,375.83
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ... .. 3. 0.00
4.
9 9 ( ) .........................
Mort a es and Notes Receivable Schedule D 4.
.. O.OO
5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E)..... .. 5. 26,576.71
6. Jointly Owned Property (Schedule F) O Separate Billing Requested ..... .. 6. 0.00
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
674
16
33
(Schedule G) O Separate Billing Requested...... .. 7. .
,
8.
9 ) ...........................
Total Gross Assets (total Lines 1 throw h 7 8.
.. 838,626.70
9. Funeral Expenses and Administrative Costs (Schedule H) ............. ...... 9. 63,617.12
10. Debts of Decedent, Mortgage Liabilities and Liens (Schedule I) ......... ...... 10. 3,538.34
11. Total Deductions (total Lines 9 and 10) ........................... ...... 11. 67,155.46
12. Net Value of Estate (Line 8 minus Line 11) ........................ ...... 12. 771 ,471.24
13. Charitable and Governmental BequestslSec 9113 Trusts for which
an election to tax has not been made (Schedule J) .................. ...... 13. 0.00
14. Net Value Subject to Tax (Line 12 minus Line 13) .................. ...... 14. 771,471.24
TAX CALCULATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
0
00
(a)(1.2) X .0_ . 15.
16. Amount of Line 14 taxable
at lineal rate x .0 45 771,471.24 16.
17. Amount of Line 14 taxable
at sibling rate X .12 0.00 17.
18. Amount of Line 14 taxable
0
00
at collateral rate X .15 . 18
19. TAX DUE ........................... ............................ ..19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
Side 2
1505610205
0.00
34,716.21
0.00
0.00
34,716.E 5
O
1505610205
REV-1500 EX (FI) Page 3
Decedent's Complete Address:
30,000.00
LOUETTA E. BORDNER
STREET ADDRESS
Church of God Home
801 North Hanover Street
clTv
Carlisle
Tax Payments and Credits:
1. Tax Due (Page 2, Line 19)
2. Credits/Payments
A. Prior Payments
B. Discount
3. Interest
1,578.95
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.
File Number
-- - -- - _
STATE ,ZIP
PA 17013
(1) 34,716.21
Total Credits (A + B) (2) 31,578.95
(3) O.UO
(4)
(5)
Make check payable to: REGISTER OF WILLS, AGENT.
3,137.E
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred .................................................................................... ...... ^
b. retain the right to designate who shall use the property transferred or its income ...................................... ...... ^
c. retain a reversionary interest ........................................................................................................................ ...... ^
d. receive the promise for life of either payments, benefits or care? ................................................................ ...... ^
2. If death occurred after Dec. 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? ........................................................................................................ ...... ^
3. Did decedent own an "in trust 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? .................................................................................................................. ...... ~ ^
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE Rt ~ ~.:
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 spa
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 of the surviving spouse is 0 perce~::
[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 ar.
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 parF~,~
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. §9?
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 tleriner
under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
REV-1502 EX+ (11-08}
Pennsylvania SCHEDULE A
DEPARTMENT OF REVENUE REAL ESTATE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
LOUETTA E. BORDNER 21 10 1252
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 iointly-owned with right of survivorship must be disclosed on Schedule F.
If more space is needed, insert additional sheets of the same size.
REV-1503 EX+ (6-98)
SCHEDULE B
COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
LOUETTA E. BORDNER 21 '10 1252
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
~ 20 shs. MetLife, Inc. 761.20
2. Dividend on Item 1 14.80
3 915.01 shs. Bridgeway Fund, Income Ultra Small Market 12,352.64
4 711.561 shs. Loomis Sayles Funds I Small Cap Value 17,262.47
5 5075.242 shs. MTB Large Cap Growth 41,160.21
6 1612.744 shs. MTB Large Cap Value 15,740.38
7 2508.523 shs. MTB Mid Cap Growth 33,890.15
8 897.879 shs. MTB Small Cap Growth 13,459.21
9 1591.09 shs. Institutional Equity Large Cap Growth 24,757.36
10 1360 shs. Vanguard Institutional Index Fund 147,288.00
11 1052.881 shs. Vanguard Value Index Signal 21,278.73
12 605.918 shs. Alpine International Real Estate Equity 15,166.13
13 889.617 shs. Harbor International Fund 51,250.84
14 3330.162 shs. Federal Total Return Institutional 37,797.34
15 MTB U.S. Government Bond Fund 142,196.37
TOTAL (Also enter on line 2, Recapitulation) $ 574,375
(If more space is needed, insert additional sheets of the same size)
Estate Valuation
Date of Death: 11/23/2010
Valuation Date: 11/23/2010
Processing Date: 12/17/2010
Shares Security
or Par Description
Estate of: Louett:a L. Bordner, T/A
Account: 1104188469
Report T}rpe: Date of Death
Number of Securities: 14
File ID: Bordner, Louetta L. TUA
Mean and/or Div and. Int Security
High/Ask Low/Bid Adjustments Accruals Value
2) 915.01 BRIDGEWAY FD INC (108747403)
ULTRA SML MKT
Mutual Fund (as quoted by NASDAQ)
11/23/2010 13.50000 Mkt
13. 500000 12,352. 64
3) 711.561 LOOMIS SAYLES FDS I (543495816)
SML CP VAL INS
Mutual Fund (as quoted by NASDAQ)
11/23/2010 24.26000 Mkt
24.
260000
17,262.
47
4) 5075.242 MTB GROUP FDS (553767742)
LGCP GRW INSTL
Mutual Fund (as quoted by NASDAQ)
11/23/2010 8.11000 Mkt
8. 110000 41,160. 21
5) 1612.744 MTB GROUP FDS (553767668)
LCP VAL INST I
Mutual Fund (as quoted by NASDAQ)
11/23/2010 9.76000 Mkt
9. 760000 15,740. 38
6) 2508.523 MTB GROUP FDS (553767510)
MID CP GRW I I
Mutual Fund (as quoted by NASDAQ)
11/23/2010 13.51000 Mkt
13. 510000 33,890. 15
7) 897.879 MTB GROUP FDS (553767148)
S CP GRW INS I
Mutual Fund (as quoted by NASDAQ)
11/23/2010 14.99000 Mkt
14 .990000 13,459. 21
8) 1591.09 INSTITUTIONAL EQUITY FDS INC (45775L408)
LGCAP GROWTH
Mutual Fund (as quoted by NASDAQ)
11/23/2010 15.56000 Mkt
15 .560000 24,757 .36
9) 1360 VANGUARD INSTL INDEX FD (922040100)
SH BEN INT
Mutual Fund (as quoted by NASDAQ)
11/23/2010 108.30000 Mkt
108 .300000 147,288 .00
10) 1052.681 VANGUARD INDEX FDS (922908462)
VALU IDX SIGNL
Mutual Fund (as quoted by NASDAQ)
11/23/2010 20.21000 Mkt
20 .210000 21,278 .73
11) 605.918 ALPINE EQUITY TR (020940409)
INTL R/E EQT Y
Mutual Fund (as quoted by NASDAQ)
11/23/2010 25.03000 Mkt ,/
25 .030000 15,166 .13
12) 889.617 HARBOR FD (411511306)
INTL FD INSTL
Mutual Fund (as quoted by NASDAQ)
11/23/2010 57.61000 Mkt
57 .610000 51,250 .84
Page 1
This report was produced with EstateVal, a product of~Estate Valuations & Pricing Systems, Inc. If yos have questions,
please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.1.1)
Estate of: Louetta L. Bordner, T/A
Date of Death: 11/23/2010 Account: 1104188469
Valuation Date: 11/23/2010 Report: Type: Date of Death
Processing Date: 12/17/2010 Number of Securities: 19
File ID: Bordner, Louetta L. TUA
Mean and/or Div anti Int Security
Shares Security
High/Ask Low/Bid Adjustments Accrua.Ls Value
or Par Description
13) 3330.162 FEDERATED TOTAL RETURN SERS (31428Q101)
TOTL RET INSTL
Mutual Fund (as quoted by NASDAQ)
11/23/2010 11.35000 Mkt
11.350000
37,797.34
14) 14348.776 MTB GROUP FDS (55376V705)
US GV BD I I
Mutual Fund (as quoted by NASDAQ)
11/23/2010 9.91000 Mkt 142,196.37
9.910000
Page 2
This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions,
please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.1.].1
REV-1508 EX+ (u-io)
SCHEDULE E
~, pennsylvania
DEPARTMENT OF REVENUE CASH, BANK DEPOSITS & MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
LOUETTA E. BORDNER 21 10 1252
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, M&T Bank Checking Acct. 16604849 16,441.26
2 Wachovia, IRA deposit prior to DOD 300.00
3 Refund, Verizon 13.44
4 Refund, United Healthcare Insurance Co. 360.00
5 Medicare Part D rebate 250.00
6 Income to DOD, TUA Louetta E. Bordner 5,095.08
7 County of York, Widow Burial Expense 100.00
g Mempbers 1st Credit Union, Acct. 197755-00 84.63
g AARP, premium refund 187.30
10 Church of God Home, refund for long distance telephone service 8.00
11 2010 Federal Income Tax Refund 3,400.00
12 2010 PA State Income Tax Refund 337.00
TOTAL (Also enter on Line 5, Recapitulation) $ 26,576.:-':
If more space is needed, use additional sheets of paper of the same size.
REV-1510 EX+ (08-09)
i ~~ Pennsylvania SCHEDULE G
DEPARTMENT OF REVENUE INTER-VIVOS TRANSFERS AND
~+~ INHERITANCE TAX RETURN MISC. NON-PROBATE PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
LOUETTA E. BORDNER 21 10 1252
This schedule must be completed and filed if the answer to any of questions 1 through 4 on page three of the REV-150(1 is yes.
ITEM
NUMBER DESCRIPTION OF PROPERTY
INCLUDE THE NAME OF THE TRANSFEREE, THEIR REIATIDNSHIP TO DECEDENT AND
THE DATE OF TRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET
% OF DECD'S
INTEREST
E)(CLIJSION
(IF APPI.lG1BLE)
TAXABLE
VALUE
1. Wells Fargo Advisors IRA 1638-2114 33,674.16 33% 0.00 11,224.7;
Monte L. Bordner, 61 Aspen Road, Dillsburg, PA 17019 Son
2 Wells Fargo Advisors IRA 1638-2114 33,674.16 33% 0.00 11,224.7;
John J. Bordner, 112 Cedar Drive, Dillsburg, PA 17019 Son
3 Wells Fargo Advisors IRA 1638-2114 33,674.16 33% 0.00 11,224.7;
Bradford E. Bordner, 114 Oak Drive, Camp Hill, PA 17011 Son
TOTAL (Also enter on Line 7, Recapitulation) $ ~ 33,674.16
If more space is needed, use additional sheets of paper of the same size.
Estate Valuation
Louretta Ellen Bordner
Date of Death: 11/23/2010
Valuation Date: 11/23/2010
Processing Date: 02/28/2011
Shares Security
or Par Description
1) 546.66 Bank Deposit Sweep (CASH)
2) 785.81 BARON INVT FDS TR (068278308)
SMALL CAP FD
Mutual Fund (as quoted by NASDAQ)
11/23/2010
3) 2099.196 FEDERATED INCOME SECS TR (31420C845)
FED CAP INCM F
Mutual Fund (as quoted by NASDAQ)
11/23/2010
Total Value:
Total Accrual:
Total: 533,679.16
Titled:
Estate of: Loue~tta Ellen Bordner
Account: 1638-2114 / 257910279423145
Report Type: Date of Death
Number of Securities: 3
E'ile ID: 1638-2114
Mean and/or Div and :nt Security
High/Ask Low/Bid Adjustments Accruals Value
596.66
22.26000 Mkt
22.260000
7.63000 Mkt
7.630000
Portfolio Endnotes
LOUETTA ELLEN BORDNER
WFBNA CUSTODIAN TRAD IRA
153 LOGAN ROAD SUITE 221
DILLSBURG PA 17019-9501
Account was opened on 02/02/1993.
17,492.13
15,635.37
$33,674.16
50.00
Page 1
This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If ~/ou have questions,
please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.1.1)
REV-1512 EX+ (12-08)
Pennsylvania
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES & LIENS
ESTATE OF FILE NUMBER
LOUETTA E. BORDNER 21 10 125:?
Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION _ OF DEATH
1• Church of God Home, Inc., balance due 349.80
2 Continuing Care RX, balance due 93.28
3 West Shore EMS, balance due 274.40
4 Alert Pharmacy Services, Inc., balance due 12.68
5 SES Insurance Brokerage Service, Inc., liability insurance premium 65.00
6 United Insurance, premium 187.30
7 Elmcroft of Dillsburg, balance due 2,180.30
8 Federal Withholding sale of 20 shs. MetLife 257.10
9 Jacki L. Thoman, Tax Collector, real estate taxes 48.96
1 o Paxton Herald, advertising Woodlawn Memorial Gardens 69.52
TOTAL (Also enter on Line 10, Recapitulation) I $ 3,538..
If more space is needed, insert additional sheets of the same size.
REV ] 51 1 EX+ ~ 1 G-09 j
~ Pennsylvania SCHEDULE H
~E~A~.TMENT o~ ~r~FN~E FUNERAL EXPENSES AND
~NHERITAN~E Tnx aETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBEIR
LOUETTA E. BORDNER 21 10 125;?
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION _ ___ AMOUNT _
A. FUNERAL EXPENSES:
I' Monte L. Bordner, reimburse for Parthemore Funeral Home expense 5,087.94
2 Monte L. Bordner, reimburse for funeral luncheon 969.26
3 Monte L. Bordner, reimburse for funeral flowers 169.60
a Monte L. Bordner, reimburse for interment fees Rolling Green Cemetery 945.00
5 John J. Bordner, reimburse for funeral flowers 625.40
B. ADMINISTRATIVE COSTS:
1. Personal Representative Commissions:
Name(s) of Personal Representative(s) M&T Bank
Street Address One West Huh Street _
city Carlisle state F'A zIP 17013
Year(s) Commission Paid: $.00 _
~. Attorney Fees:
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation.)
Claimant
Street Address
City - __- -_ --- _ -- -_ State _ _ ZIP _ _
Relationship of Claimant to Decedent
4, Probate Fees:
5. Accountant Fees:
6. Tax Return Preparer Fees:
~ Cumberland Law Journal, advertising Letters Testamentary
a The Sentinel, advertising Letters Testamentary
9 Wells Fargo Advisors, estate valuation fee
~o David A. Hoffman, surveying real estate
11 Sheaffer Appraisal Service, Inc., real estate appraisal
t2 Reserve for Closing and Filing Costs
28,648.58
19,010.00
0.00
577.50
0.00
0.00
75.00
187.54
25.00
5,971.30
325.00
1,000.00
TOTAL (Also enter on Line 9, Recapitulation) $ 63,617.12
If more space is needed, use additional sheets of paper of the same size.
REV-1513 EX+ (O1 10)
Pennsylvania
DEPAP.TME:NT Or RF VEN UE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE ~
BENEFICIARIES
ESTATE OF: FILE NUMBER:
LOUETTA E. BORDNER :?1 10 1252
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS [Include outright spousal distributions and transfers under
Sec. 9116 (a) (1.2).]
1. M&T Bank and Monte L. Bordner, Co-Trustees U/A John J. Bordner
FBO Monte L. Bordner, John J. Bordner and Bradford E. Bordner
Children
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER SHEET, AS APPROPRIATE.
II NON-TAXABLE DISTRIBUTIONS
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN:
1.
8. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS:
1.
100%
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. I $
If more space is needed, use additional sheets of paper of the same size.
Pa #1
SHEAFFER APPRAISAL SERVICE, INC.
234 BALTIMORE ST., HANOVER, PA
4/5/2011
RYANLEPPO
rleppo@mtb.com
Re: Property: Land near1973 Baltimore Pike
EAST BERLIN, PA 17316-9164
Borcower: LOUETTA BORDNER ESTATE
File Na.:
Opinion of Value: $ 204,000
Effective Date: 3/25/11
In accordance with your request, we have appraised the above referenced property. The report of that appraisal is
attached.
The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal report,
as improved, in unencumbered fee simple tftle of ownership.
This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and
city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the
report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice.
The opinion of value reported above is as of the stated effective date and is contingent upon the certfication and limiting
conditions attached.
It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff iF we can be of additional
service to you.
Sincerely,
~~~~
Matthew Sheaffer
RL139571
Sheaffer Appraisal Service, Inc
245 Baltimore St.
Hanover, PA 17331
Pa #2
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions
requisite to a fair sale, the buyer and seller, each acting pendently, knowledgeahty and assuming the price is not affected by undue stimulus. Implicit in this
definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are
typicalty motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own hest interest; (3) a reasonable time is allowed
for exposure in the open market; (4) payment is made in terms at cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price
represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated ~Nith
the sale.
* Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary
for those casts which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable
since the seller pays these casts in virtually all sales transactions. Special or creative financing adjustments can be made to the
comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the
property or transaction. Any adjustment should not be calculated on a mechanical dollar far dollar cost of the financing or concession
but the dollar amount of any adjustment should appra>amate the market's reaction to the financing or concessions based on the
appraiser's judgement.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following
conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised ar the title to tt. The appraiser assumes that
the title is good and marketable and, therefore, will not render any opinions about the thle. The property is appraised on the basis of it being under responsible
ownership.
2. TYw appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only la assist
the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted
in the appraisal report whether the subject site is located in an identified Special Floetl Hazard Area. Because the appraiser is not a surveyor, he or she makes
no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless spec'rfic arrangements to do
so have been made beforehand.
5. The appraiser has estimated the value of the land in the cast approach at its highest and best use and the improvements at their contributory valrie. These
separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid it they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, to>ac
substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research irnoNed in performing
the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no krrowledge of any hidden or unapparent conditions of the property or
adverse ernironmental conditions (Including the presence of hazardous wastes, toxic substances, etc.) that weuld make the property mare or less valuable, and
has assumed that there are no such conditens and makes no guarantees or warranties, express or implied, regarding the condition of the property. The
appraiser will not be responsible for any such conditions that do exist or far 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, the appraisal report must not be considered as an
environmental assessment of the property.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she consitlars Ito be
reliable and believes them to be tme and correct. The appraiser does not assume responsibility far the accuracy of such items that were furnished by other
parties.
6. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion far an appraisal that is subject to satisfactory completion, repairs, or
alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specfied in the appraisal report can distribute the appraisal report
(including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal
organizations ar the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage
insurer; consultants; professional appraisal organizations; any state or federally approved financial instffution; or any department, agency, or instrumentality
of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report orly to data
collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also
be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Farm 1004H 6-93
Sheaffer Appraisal Services
Form ACR - °WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Paae #3
APPRAISER'S CERTIFICATION: The Appraiser certrfles and agrees that:
1. I have researched the subject market area and have selected a minimum of three recent sales of properties mast similar and proximate to the subjectproperty
for consideration in the sales comparison analysts and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant
variation. h a significant item in a comparable property Is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce
the adjusted sales price of the comparable and, if a significant item In a comparable property is infertor to, or less favorable than the subject property, I have made
a pashive adjustment to increase the adjusted sales price of the comparable.
2. I have taken Into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not
knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the
appraisal report are tme and correct.
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent
and limiting conditions specified in this form.
4. I have no present or prospective Interest in the property that is the subject to this report, and I have no present or prospective personal interest ar bias with
respect to the participants in the transaction. I did not base, either partialry or completely, my anarysls and/or the estimate of market value in the appraisal report
on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present
owners or occupants of the properties in the vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this
appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amourtt of the value estimate,
the attainment of a specific result, or the occurrence of a subsequerd event in order to receive my compensation and/or employment for performing the appraisal. I
did not base the appraisal report on a requested minimum valuation, a spec"rfic valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the ,4ppraisal
Standards Board of the Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the deparNre provision of those
Standards, which does not apply. I acknowledge that an estimate of a reasonable time for e>grosure In the open market is a condition in the definition of market value
and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the
reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject property and the exteror of all properties listed as comparables in the appraisal report.
I further certify that I have noted any apparent or known adverse conditions In the subject improvements, on the subject site, ar on any site within the irnmedlate
vicinity of ttre subject property of which I am aware and have made adjustmerrfs for these adverse conditions in my analysis of the property value to the extern that
I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional
assistance from any individual or individuals in the performance of the appraisal er the preparation of the appraisal report, I have named such individual(s) and
disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certiy that any individual so named is qualified to perform
the [asks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take
na responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION• If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that:
I directry supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,
agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: Land near1973 Baltimore Pike EAST BERLIN PA 17316-9164 __
APPRAISER:
Signature: -m? ~ ~ Jl--~
Name: MATTH HEAF
Date Signed: 4l5 20~
State Certification #: RL139571
or State License #:
State: PA
Expiration Date of Certification or License: 6/30/2011
SUPERVISORY APPRAISER (only if required):
Signature:
Name:
Date Signed: -
State Certification #:
or State License #:_
State:
Expiration Date of Certification or
^ Did [] Did Nat Inspect Property
Freddie Mac Form 439 6-93 Page 2 of 2 ranrne iviae ruwi iwyo ~-~~
Form ACR - "WinTOTAL" appraisal software by a la mode, inc. - 1-SOaALAMODE
~P #4
LAND APPRAISAL REPORT BORENER EST.
Filo Nn
Borrower LOUETTA BORDNER ESTATE Census Tract 0203.20 Map Reference 49620 __-
Property Address Land near1973 Baltimore Pike --
County YORK State PA Zip Code 1 731 6-91 64
City EAST BERLIN
Legal Description 50-000-KD-0002-FO-00000
Property Rights Appraised ®Fee ^ Leasehold ^ De Minimis PUD
Loan Term yrs
.
Sale Price $ NIA Date of Sale
Actual Real Estate Taxes $ (yr) Laan charges to be paid by seller $ Other sales concessions _--
Lender/Client RYAN LEPPO Address rleppo(a)mtb com _--
Occupant Appraiser MATTHEW SHEAFFER Instructions to Appraiser -
Location Urban Suburban Rural Good Avg. Fair Pcor
^ Over 75% ^ 25% to 75% ®Under 25% Employment Stability ^ ~~ ^ ^
Built Up
Growth Rate ^ Fully Dev. ^ Rapid ®Steady ^ Slow Convenience to Employment ^ ~~ ^ ^
^ ~'~ ^ ^
i
ng
Property Values ^ Increasing ®Stable ^ Declining Convenience to Shopp
^ ~'~ ^ ^
l
h
S
oo
s
c
DemanNSupply ^ Shortage ®In Balance ^ Oversupply Convenience to
tion ^ ~'~ ^ ^
rt
T
ranspo
a
Marketing Tme ^ Under 3 Mos. ®4-6 Mos. ^ Over 6 Mas. Adequacy of Public
^ ~~ ^ ^
i
i
i
es
l
t
Present Land Use 20% 1 Family _% 2-4 Family _% Apts. _% Condo _% Commercial Recreational Fac
Adequacy of Utilities ^ ~~ ^
%Industriai 80%Vacant _%
Change in Present Land Use ®Not Likely ^ Likely (*) ^ Taking Place (*) Property Compatibility ^ ~~ ^ ^
diti
^ ~~ ^ ^
l C
on
ons
(*) From To Protection from Detrimenta
^ ~~ ^ ^
ti
on
Predominant Occupancy ®Owner ^ Tenant % Vacant Police and Fire Protec
000 Predominant Value $ 180,000 General Appearance of Properties ^ ~~ ^ ^
$ 130 000 tc $ 40
,
Single Family Price Range
Single Family Age new yrs. to 100+ yrs. Pretlomtnant Age 35 yrs. Appeal fo Market ^ ~~ ^ ^
favorable or unfavorable, attecdng marketabiltty (e.g. public parks, schools, view, noise):SUBJECT IS ON A QUIET ROFVD ROUTE
those factors
nts includin
C
,
g
omme
NW OF EAST BERLIN AND N OF LAKE MEADE IN WASHINGTON TOWNSHIP. ROUTE 194, A MAJOR N/A ARTERY GIVES EASY
194
,
ACCESS TO MOST EMPLOYMENT SCHOOLS AND SHOPPING. THERE ARE 2 50FT RIGHT OF WAYS TO PROPERTY. ONE OFF
BALTIMORE PIKE AND 1 OFF DAVIDSON RD.
ot
Corner l
.
Dimensions IRREGULAR = 40.29 Sq. Ft. or Acres
Zoning classiticaUon rural off Davidsburg woodland off Baltimore Dike Present Improvements ~ do ^ do not conform to zoning regulations
Highest and best use ^ Present use Other s ecl DEVELOPMENT IF PERMITTED. ----
Public Other (Describe) OFF SITE IMPROVEMENTS Topo ROLLING ---
Elec. '~ Street Access ®Public ^ Private Size 40.29 AC. --
~ Surface MACADAM ShapeIRREGULAR _--
Gas
^
Maintenance ®Public ^ Private View COUNTRYSIDE -
Water ~
_
San. Sewer ^ ^ Storrs Sewer ^ CurblGutter Drainage ASSUMED ADEQUATE _ ~~ ^
? No Yes
'
rfied Special Food Harard Area
Underground Elect. & Tel. Sidewalk Street Li Ms Is the property located in a HUD Idertt
'
'
_
,9 AC LOT.
Comments (favorable or unfavorable including any apparem adverse easemems, encroachments, or other adverse condigons) SUBJECT IS CURRENTLY A 40.2
'
17 ACRES
IT IS APPROVED FOR 7 LOTS HOW EVER IT IS NOT SUBDIVIDED AS OF YET AND IS BASED "AS IS". APPROXIMATELY
WILL BE LEASED FOR 850 PER YEAR. --
The undersigned has recited three recent sales of propertes most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar
ricr
i
s supe
adjustment reflecting market reaction [o those items of significant variatlon between the subject and comparable properties. If a significant item in the comparable properly
nificant item in the comparable is irderior to or less
bject: it a si
l
f
d
g
su
ue o
va
tc or more favorable than the subject property, a minus (-) adjusment is made thus reducing the indicate
favorable than the subject property, a plus (+) adjustment is made thus increasing the indicated value of the subject.
ITEM SUBJECT PROPERTY COMPARABLE N0.1 COMPARABLE N0.2 COMPARA8ILE N0.3
Address Land near1973 Baltimore Pike LOT 1 C FISH & GAME RD. LOT B LOW DUTCH RD. 525 BERMUDIAN CREEK RD.
EAST BERLIN NEW OXFORD 17350 GETTYSBURG 17325 EAST BERLIN 17316-
Proximi to Subject 11.94 miles SW 15.56 miles SW 2.97 miles NW
$ 125 000
Sales Price $ N/A 241,406 $ 225,000 ~
Price
Data Source INSP./PUBLIC REC. MLS & PUBLIC TAX RECORDS MLS & PUBLIC TAX RECORD MLS & PUBLIC TP,X RECORDS
Date of Sale and DESCRIPTION DESCRIPTION + - Ad ust. DESCRIPTION + - Ad ust DESCRIPTION ~- - $ Ad ust.
Time Adjustment 3111 11/24/10 12/15/10 9122/10 __
Location
Sit iew AVG.
29 AC.
40 AV/GD `
35.00 AC. ` AVG.
32.58 AC. +23 100 AVG. _ __
10.36 AC. _ +89 800
.
2- 50 FT. ROW'S 80 FT. ROAD -25 000 1700 FT ROAD -30 000 934 FT ROAD _ -25 000
'
WOODS & CLEAR FRONTAGE FRONTAGE -
FRONTAGE _
'
WOODS/CLEAR WOODICLEAR CLEAR _
-
Sales or Flnancing
Concessions N!A CONV.
0 157DOM CASH
0 259 DOM CASH
0 147 DOM
Net Ad . otal + - ; $ -25 000 + - $ -6 900 + - 64 800
Indicated Value
of Subject Net 10.4 % 216 406 Nat 8.1 % 218,100 Net 51.8 % 189 800
Comments on Market Data: COMP #1 HAS PUBLIC WATER WITHIN 500 FEET WHICH BRINGS A HIGH DEMAND. AFTER A THROROUGH
SEARCH THESE ARE THE-MOST RELEVANT COMPS AVAILABLE. ALL ARE SIMILAR IN SIZE AND LOCATION AS POSSIEILE. THEY
ARE ALL IN SIMILAR MARKETING AREAS. --
THERE IS A POND ON SITE WHICH ADDS NO VALUE TO THE PROPERTY DUE TO COMPS HAVING
Comments and Conditions of Appraisal:
MORE ROAD FRONTAGE THAN SUBJECT ADJUSTMENTS W ERE MADE FOR THIS DIFFERENCE. ___-
Final Reconciliation: APPRAISAL IS BASED ON MARKET APPROACH. ---
REFINER, OF SUBJECT PROPERTY AS OF 3125/11 2O 11 tc be $ 204,000 _--
A
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(Y2K] Sheaffer Appraisal Services
Form LND - "WinTOTAL" appraisal software by a la mode, inc. -1-80aALAMODE
LAND APPRAISAL REPORT (P a #5
MARKET DATA ANALYSIS gORENER EST.
File Na.
ITEM SUBJECT PROPERTY COMPARABLE N0. 4 COMPARABLE N0. 5 COMPARABLE N0. 6
Address Land near1973 Baltimore Pike
EAST BERLIN 715 WHITECHURCH RD.
YORK SPRINGS 17372
--
Pro>ami to Sub' ct
Sales Price
Pdce
N/A 7.21 miles W
135 900 -
-
-
Data Source
Date of sale and INSP./PUBLIC REC.
DESCRIPTION MLS & PUBLIC TAX RECORDS
DESCRIPTION + - Ad'ust.
DESCRIPTION + - Ad'ust. --
DESCRIPTION ! ±(_- Ad'ust.
Time Ad'ustment 3/11 7!20/10 -
Location AVG. AVG. --
Sit few 40.29 AC. 12.37 AC. +83 800 ----
2- 50 FT. ROW'S 450 FT ROAD -15 000 ---
WOODS & CLEAR FRONTAGE --
CLEAR -
Sales or Financing
Concessions N/A CASH
0 228 DOM
--
Net Ad'. otal + - 68 800 + - + - ----
hidicated Value
of Sub'ect
Net 50.6 %
204 700
Net Net %
ments:
C --
om
Form LND.(AC) - °WnTOTAL' appraisal software by a la made, inc. -1-80QALAMODE
Pa #6
Subiect Photo Page
Borrower LOUETTA BORDNER ESTATE ---
Pro a Address Land near1973 Baltimore Pike State PA - Code 17316-6164
City EAST BERLIN Cou YORK
Lender/Client RYAN LEPPO
Subject Froni:
Land near1973 Baltimore Pike
Sales Price N!A
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location AVG.
View 40.29 AC.
Site
Duality
Age
Subject
Subject Street
Fonn PIC3x5.SR - °WinTOTAL° appraisal software by a la mode, inc. -1-800-ALAMODE
CPase #7
Subject Photo Page
Borrower LOUETTA BORDNER ESTATE --
Pro Address Land near1973 Baltimore Pike State PA Z Code 17316-9164
Ci EAST BERLIN Cou YORK
LenderlCtlent RYAN LEPPO
Subject Front
Land near1973 Baltimore Pike
Sales Price NIA
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location AVG.
View 40.29 AC.
Site
Duality
Age
Subject STREET
Subject Street
Farm PIC3x5.SR -'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
[Pa #8
Subject Photo Page
Borrower LOUETTA BORDNER ESTATE ---
Pro a Address Land near1973 Baltimore Pike State PA L Code 17316-9164
CI EAST BERLIN Cou YORK
Lender/Client RYAN LEPPO
Subject Front
Land near1973 Baltimore Pike
Sales Price N!A
Grass Living Area
Total Roams
Total Bedrooms
Total Bathrooms
Location AVG.
View 40.29 AC.
Site
Duality
Age
Subject
RIGHT OF WA1f
farm PIC3x5.SR - °WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
I Pane #
1 nn9tinn Mae
Borrower LOUETTA BORDNER ESTATE ~--
Pro a Atldress Land near1973 Baltimore Pike State PA Zt Code 17316-9164
CI EAST BERLIN Coun YORK
Lender/Client RYAN LEPPO '--
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Flnnd Mao
CAD
Form MAP.FLOOD - "WinTOTAL° appraisal software by a la mode, inc. -1-800•ALAMODE
~ Prepared for:
InterFlood~ 5heafferAppraisal Services
® eY + i, moe* 1973 BaRimore Pike
www.interflood.com • 1-800-252-6633 EAST BERLIN, PA 17316916A
FROM: INVOICE
SHEAFFER APPRAISAL SERVICE, INC
245 BALTIMORE STREET
HANOVER, PA 17331
Telephone Number: 717-633-6363 Fax Number: 717-633-5882
T0:
RYAN LEPPO
Telephone Number: Fax Number:
Allemate Number E-Mal:
iNVac~ NuMeER
4/580RDNER
DATE
415!2011
REFERENCE _
Internal Order #:
Lender Case #:
Cllent Fik: #:
Main Fle # on form:
OlherFle#onfarm: BORENEREST.
Federal Tax ID: 80-0314547
Empbyer ID:
Lender: RYAN LEPPO Client:
Purchaser/BOnower. LOUETTA BORDNER ESTATE
Property Address: Land near1973 Baltimore Pike
City: EAST BERLIN
State: PA
Zip: 17316-9164
County: YORK
Legal Description: 50-000-KD-0002-FO-00000
AMOUNT
DES
325.00
PLEASE REFERENCE YOUR INVOICE NUMBER ON PAYMENT.
SUBTOTAL 325.00
AMOUNT
PAYMENTS
Check #: Date: Description:
Check #: Date: Description:
Check #: Date: Description:
SUBTOTAL
TOTAL DUE $ 325.00
Form NNS - "WinTOTAL° appraisal soffware by a la made, inc. -1-800-ALAMODE
Sheaffer Appraisal Services
p ~s~
499 Mitchell Road, Millsboro, DE 19966 Adjustment Services
Phone 888-50:!-4349
F ax (302) 934-2955
January 4, 2011
M and T Bank Investment Group
One West High Street
P O Box 220
Carlisle, PA 17013
Re: Estate of Louetta E Bordner
Social Security: 206-12-9757
Date of Death: November 23, 2010
Dear Sir or Madam:
Per your inquiry on November 21, 2010, please be advised that at the time of death, the above-named decedent
had on deposit with this bank the following:
1. Type of Account Checking Account
Account Number 16604849
Ownership (Names o, fl Louetta E Bordner
Opening Date 0828/64
Balance on Date of Death $16,441.23
Accrued Interest $ .03
Total $16,441.26
For further account information, closures and/or reimbursement of funds please call the Mechanicsburg Office at #71i'-255-2031.
We were unable to locate any safe deposit box for the above-mentioned decedent.
17~is letter does not include any accounts in which the deceased may have been listed as Power of Attorney, Custodian of Uniform 1~ansfers,
Representative Payee, or Trustee under a Written Agreement
Sincerely,
•'
Tammy Spencer
Adjustment Services
MEMBERS 1St
PHDHRALCRHDIT UNION
SAVINGS ACCOUNT:
Account Number/Suffix
Date Account Established
Principal Balance at Date of Death
Accrued Interest to Date of Death
Total Principal and Accrued Interest
Name of Joint Owner
197755-00
10/13/2000
$84.61
$.02
$84.63
None
M ERS 1sT FEDERAL CREDIT ION
~~_ ~. u~
anielle A. Kline
Lending Insurance Support Specialist
January 7, 2011
t
Estate of: LOUETTA E. BORDNER
Date of Death: 11/23/2010
Social Security Number: 206-12-9757
~ JAN ]~ 2 2011
5000 Louise Drive P.O. Box 40 Mechanicsburg, Pennsylvania 17055 (800) 283-2328 wwwmemberslst.org
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[.,~~
17i~sY ~iU ~tc~ (~1rsYttmenY
OF
LOUETTA E. BORDNER
I, LOUETTA E. BORDNER, of the Township of Fairview, York Count;t,
Pennsylvania, make, publish .and declare this to be my Last Will and
Testament, hereby revoking and making void any and all former Wi11s
by me at any time heretofore made.
ARTICLE 2
I direct my Executor to pay all my just debts and funeral ex-
penses as soon after my decease as conveniently may be.
ARTICLE II
~ I give and bequeath unto my husband, JOHN J. BORDNER, if he
survives me, my household goods, jewelry and items of tangible per-
sonal property. If my husband shall fail to survive me, I give and
bequeath the same unto my children in equal shares, to be divided
among them as they shall agree. If they are unable to agree as to
any item, the same shall become a part of my residuary estate.
ARTICLE III
All the rest, residue and remainder of my estate, of whatso-
ever nature and wheresoever situate, I give, devise and bequeath
unto MONTE L. BORDNER and DAUPHIN DEPOSIT BANK AND TRUST COMPANY,
Trustees under Agreement with John J. Bordner made contemporaneously
with this Will and as the same may hereafter be amended, to be held
and administered in accordance therewith. _
ARTICLE IV
I name, constitute and appoint JOHN J. BORDNER to be the Exec-
utor of this my Will. Should John J. Bordner fail to survive me
i~~~oo
or fail for any reason to complete the administration hereof, I
appoint MONTE L. BORDNER and DAUPHIN DEPOSIT BANK AND TRUST COMPANY
to be the Executors in his stead.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this
/L~ day of ~~~~ , 1980.
~~ ~ (SEAL)
Louetta E. Bordner
Signed, sealed, published and declared by the above-named
Testatrix, as and for her Last Will and Testament, in the presence
of us, who at her request, in her presence and in the presence of
leach other, have hereunto subscribed our names as witnesses.
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i
AGREEMENT
j 1~1u r~tl-~
THIS AGREEMENT made this /~ day of ~3', 1980, be-
tween JOHN J: BORDNER, of F,airview-Township, York County, Pennsyl-
~vania, party of the first part (hereinafter referred to as
~ISettlor) and MONTE L. BORDNER and DAUPHIN DEPOSIT BANK AND TRUST
..COMPANY, parties of the second part (hereinafter referred i.o as
ITrustees),
W I T N E S S E T H
WHEREAS, Settlor has caused his life to be insured under
certain policies of insurance shown on Schedule A hereto ai:tached
on which policies Settlor has named or will name Trustees to be
beneficiaries; and
WHEREAS, the parties intend to establish a Trust of the pro-
ceeds of the policies and stipulate and agree to the terms t:here-
,',
of;
NOW, THEREFORE, in consideration of the mutual covenants
,herein contained it is agree`d'~,as-•follows:
.,-
r; 1
ARTICLE `%I .
~` ~ I
,THE TRUST ESTATE
1. The Trust Estate shall consist of the proceeds of said
', life insurance po ices',,' any other money or property which the
,Settlor shall convey or deliver to the Trustees, any money or
property which Settlor-may devise or bequeath to the Trustees by
his Will, and any property. which any other person may by Deed or
Will or otherwise cause to be paid or delivered to the Trustees
with evidence of intention to make the-same subject to the Trust
herein created. Any beneficiary of the Trust may deliver funds,
property, or securities to the Trustees for administration in
connection with the Trust hereby established and may reserve the
right to withdraw the same from such administration upon proper
notice; so long as such funds, property or securities remain :in
the possession of the Trustees for such purpose, they shall be
deemed to be a part of the Trust Estate for all purposes anti
shall be administered and disposed of in accordance herewith.
ARTICLE II.
CONCERNING INSURANCE POLICIES
2. During the lifetime of the Settlor, Settlor reserves to
himself all dividends,. loan .and surrender values of .the lifts
insurance policies owned by him which have been made payablcs to
the Trustees, and may exercise any of his rights under the po:1-
icies without the consent of or notice to the Trustees. The
'Trustees shall be-under no obligation to see that said policies
are kept in force,' nor shall the Trustees have any active duties
.during the lifetime of the Settlor with respect thereto.
ARTICLE III.
COLLECTION OF INSURANCE~',PROCEEDS
3. Upon the death of the Settlor'~,',the Trustees shall cause
to be collected the policies of -hz~fe insurance the proceeds of
j
which have been made subject `hereto, but-shall be under no duty
.,
'to litigate to effect cofi le~ction:~, After receiving indemnity
',
against the expenses of, such litigation, Trustees may at their
discretion institute litgat.ion for collection, and in such event
'i
are authorized to compromise and settle any claim under any of
said policies at any--stage if in their discretion they deem it
advantageous to do so. Any expense incurred in collection of the
,proceeds of the policies shall be deducted from the Trust Estate.
ARTICLE IV.
ESTABLISHMENT OF TRUSTS
4. During-the lifetime of the Settlor, should any funds or
property.be delivered to the Trustees to be subject hereto, the
Trustees shall invest and administer the same and pay the income
to the Settlor. Should any policies of life insurance upon the
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(life of the Settlor owned by any third person become the property.
of 'the Trustees by Will of such third person or by inter vivos
transfer from such-third person during the life of the Sett:Lor,
the Trustees shall be authorized to apply any funds then in•t:heir
hands to the payment of the premiums on such policy or policies
in preference to payment of the same to the Settlor unless, in
the discretion of the Trustees, the circumstances of the Settlor
are such as to require. the application of any funds available to
his maintenance and care, ~in which event the Trustees are author-
ized to apply for and obtain the full cash surrender value or
loan value on any such policies and apply the same in.accor~dance
with the purposes hereof.
5. Upon the death of the Settlor,. survived by his wife,
Louetta E. Bordner, the Trustees shall divide the Trust Estate in-
~to two Trusts, each of which shall constitute a separate Trust,
to be~known as Trust "A" and Trust "B", The Trustees shall place'
in Trust "A" an amount equal to fifty ',(~,50$) percent.of Settlor's
adjusted gross estate as finally_det'ermned for federal estate
tax purposes, less the aggreq~ate marital deduction allowable for
such purposes for property=,or interests therein which pass or
have passed to Settlor's wife otHe= than under the provisions of
this instrument. Provided, however, that there shall not be
allocated to this Trust`"A" any amount in excess of that which,
considering the federal estate tax credit available to his estate,
would reduce the federal estate tax to zero. The remainder of
the Trust Estate including any property or assets received from
lothers, or ineligible for marital deduction, shall be place~d.in
(Trust "B".
ARTICLE V.
ADMINISTRATION OF TRUST "A"
6. The Trustee shall have, hold, manage, invest and r.e-
invest. the principal. of Trust "A", collect the income, and pay
over the net income in convenient installments to Settlor's wife,
Louetta E. Bordner, during her lifetime. The Trustees shall also,
from time to time, pay to Louetta E. Bordner,~such amounts of the
principal of the Trust as the Trustees shall find necessary for
the .maintenance and support of the said Louetta E. Bordner in the
style to which she is accustomed at the time of the death of. the
Settlor or in the event of need, for her maintenance and medical
care in such manner as shall be appropriate to her medical con-
dition, as determined by the Trustees in their sound discretion.
7. Upon the death of Louetta E. Bordner, the Trustees
shall convey and pay over all of the remaining assets of this
Trust to or for the benefit of such person, including the estate
of Louetta E. Bordner, in such. amounts or proportions, and in such
interests or estates, whether absolutely or in Trust, as -the said
Louetta E. Bordner shall direct by her Last Will and Testatment
making specific reference to this Power.
8. If Louetta E. Bordner shall fail to exercise the fore-
going power of appointment, then the remaining assets of this
Trust shall be added to those in Trust "B" hereinafter established
ART•ZCLE VI.
1
~'
ADr~INISTRAT~ZON OF TRUST ~"B='
9. The Trustees shall first satisfy from the funds al.lo-
i
Gated to Trust "'B" any ~i~nheritance or estate taxes due by z~eason
of Settlor's death not provided for by his estate, the Trustees
being empowered to apply funds of.the Trust for this purpose.
without requiring the liquidation by the estate of items be-
queathed under the Will of the Settlor, provided, however, that
the Trustees may not use for such-taxes any funds or asset.. form-
ing part of the-Trust Estate which were not subject to Federal
Estate Tax in Settlor's estate. The remainder of the fund;; allo-
cated to this-Trust "B" the Trustees shall have, hold, manage, in-
vest and reinvest,. collect the income and pay over the same in
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convenient installments to Louetta E. Bordner during her natural
life. If the income from this Trust, considered together with
other income available to her, shall not be ample for her comfort
and support in the style to which she is accustomed at the time
of the Settlor's~death, or for her necessary medical and nursing
care, the Trustees, acting in their-sole discretion ,, shall pay to
her from the principal of this Trust such amounts from time to
time as shall be required for such pruposes.
In addition to the above,•the Trustees shall. pay to Louetta.
E. Bordner o.n her written request, annually, an axrtount of px•inci-
pal not exceeding Five Thousand ($5,000.00) Dollars or five (`>~)
percent of the then Trust Estate, whichever shall be greater-. The
fright to withdraw under this provision shall not be cumulative
from year to year.
10. Upon-the death of Louetta E. Bordner, or if she pre:-
deceases him, upon the Settlor's death,, the Trustees shall ter-,
urinate the Trust and distribute the principal therein as fo:Llows:
A. One (1$) percent.ther'eof to Williamson Trade
School, Media, Pennsylvania;. 'and
B. The resid,~ue thereof to the children of the
Settlor and to-the~'~issue of any deceased child of
the Settlor, in equal shares per stirpes.
If at the time~for distribution to him, a child of the
Settlor shall be deceased leaving minor issue to survive, the
Trustees shall hold the distributive shares of such minor issue
during their minority subject to the Trust, and may administer
the same according to the terms hereof. Zn making payments t:o
any minor beneficiary the Trustees may make such payment to such
person or institution as they deem most for the advantage of the
beneficiary in question without the intervention of a formzil
guardianship. If a child of the Settlor dies prior to finail dis-
tribution to him or her without leaving living issue to survive,
the share of-the child so dying shall be added to the-share o:f the
surviving beneficiaries per stirpes.
11. No part of the income or principal of the Trust Estate
shall be subject to attachment, levy or seizure by any creditor,
spouse, assignee or trustee or receiver in bankruptcy of am~+:bene-
ficiary prior to his or her actual receipt thereof. The Trustees,
shall pay over income and principal as hereinbefore determined to-
the parties designated, as their interest may appear, without
regard to any attempted anticipation, pledge or assignment by any
beneficiary, and without regard to any claim thereto or attempted
levy, attachment, seizure or other process, provided that if such
levy or seizure shall be authorized by law or specific order of
any court having jurisdiction, the Trustees shall not be liable
to any beneficiary for violation thereof'by reason of making
such payment.
12. The Trustees shall have the powers accorded Trustees by
the law of .Pennsylvania. With respect,.to investments, whether
or not such powers are provided by. the law in effect at the time.,.
they shall have the power to determine whether an asset ha.'. the
character of principal or income, to retain investments in the
form received or to convert the same, using as their standaird
that of a prudent-'man in•_dealing with his own estate, to parti-
tion real estate;. grant: options or leases-thereof and deal with
it in other respects:'as if they were the owners in fee simple
thereof, to exercise all voting powers and rights with respect
to investments which may form. part of the Trust Estate, to cause
investments to be registered for convenience of administration
in the name of a nominee,; provided that nothing in this paragraph
shall be deemed to limit or restrict. powers otherwise provided
by law. The Trustees shall also be empowered to make dist:ribu-
tion to persons entitled thereto who may 6e, in their sole judg-
ment, under any incapacity or disability, in such manner a:nd to
,_
such person or institution as they shall deem to be most bene-
ficial to the beneficiary in question, without formal guardian-
ship.
13. With respect to the Trust Estate, should Settlor and
Louetta E. Bordner die under such circumstances that it is dif-
ficult or impossible to determine which died first, the Settlor
shall be deemed to have predeceased Louetta E. Bordner.
14. The use of headings of any type herein is for con-
venience only, and they shall not be considered in the inte:rpre-
tation hereof.
15. This~Trust may be revoked or modified at any time by
the Settlor by a writing delivered to the Trustees concurred in
and as to the form only by the Trustees; except that with 2-espect
to any money or property, including insurance policies, which may
be transferred to the Trustees by Louetta E. Bordner by transfer
inter vivos or by Will, the Trust shall be irrevocable by t:he
Settlor after the death of the said`Louetta E. Bordner.
IN WITNESS WHEREOF,. the: Settlor and the individual Trustee
have hereunto set their.:r•espective hands and seals, and the cor-
porate trustee has executed thi;~s instrument by its duly authorized
officer and the affixing-a_nd-attestation of its corporate seal,
the day and year ',first 'above written.
'WITNESS:
~`L~•
/ ln,f~„~ ~ (SEAL)
Jo~i J . Bordnner
~17D'~v~ ~~i1Q~~ ( SEAL )
Monte L. Bordner
IlATTEST:
DAUPHIN DEPOSIT BANK AND TRCfST
COMPANY
~, Assistant Secretary Vice Pr sident and Trust Officer
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