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HomeMy WebLinkAbout02-17-12 (2)The power to amend, revoke or terminate any trust created by this agreement is personal to us and may not be exercised by any other person or entity. Section 5. Rights Concerning Standby Property It is contemplated that certain assets may be added to the trust estate from time to time with the possession and control thereof retained by or redelivered to us. If we execute and deliver to our Trustee an instrument effectively transferring such assets to our Trustee together with any fiu-ther documentation necessary to effect the record transfer thereof, in the event of a Trustor's death or incapacity the assets shall be deemed to be assets of the trust estate and held by us as the nominee of our Trustee. During the period such assets are in our possession, they shall be subject to the following terms and conditions: a. We may receive directly and devote to our own use and benefit any dividends, interest, income or distributions from or upon such assets and neither we nor our Trustee shall have any duty of accounting to the other or to any other person with regard thereto. b. Any sale, exchange or other transfer of such assets by us shall constitute a withdrawal of such assets from the trust estate and our Trustee shall have no further interest therein or duties with regard thereto. Though not a condition precedent to any such withdrawal, we agree to notify our Trustee of all such withdrawals. c. We shall be responsible for the reporting of the income from such assets to the appropriate taxing authorities .and our Trustee shall have no responsibility for including such income on any fiduciary returns prepared by it or for the preparation of any other income tax return with respect thereto unless we duly notify our Trustee of such income .., items and a full and adequate accounting thereof is made and presented to our Tn:stee. 4-5 d. VJe shall protect and indemnify our Trustee against all losses, liabilities and expenses which may result directly or indirectly from our use, possession, management or control of such assets: Upon the death or incapacity of either of us, our Trustee shall be entitled to the possession thereof and thereafter. shall have all the rights, powers and duties with respect to such assets which are otherwise granted to our Trustee herein. It is understood that our Trustee shall be responsible only for the assets which actually come into its possession and control. However, it is also understood that our Trustee shall use any reasonable and prudent means to secure possession of any trust assets of which it has knowledge. Our Trustee shall have no duty, accountability or responsibility to us or to any other person with respect `to any assets of which it has no knowledge or of which it is unable to obtain possession and control. Seetio~a 6. '~'rusfor/'l~rustee dank ~ccor~n~s It is contemplated that we may establish a joint bank account or accounts with our Trustee and create powers of attorney in respect thereof in other persons. Deposits from time to time made by us or other authorized persons into such an account shall constitute transfers to the trust estate; withdrawals therefrom, which may be made without the co-signature of our Trustee, shall constitute withdrawals from the trust estate. However, our capacity and other authorized persons with respect to any such account shall be that of nominee of our Trustee, not co-owner. At any given time, the trust estate shall include the then balance of any such account. Section 7. fife Ynsura~ce Prerniun~s aad ~etirea~e~t Playas Daring our lifetime we shall have all powers over life insurance policies and retirement benefits owned by or made payable to our trust, including the following: 4-6 a. Payment of Premiums We shall be responsible for the payment of premiums and other charges on each policy or insurance owned by or made payable to our trust. Our Trustee shall have no duty to make any payment or be responsible to determine whether such payments have been made. b, Custody of Policies Our Trustee shall not be responsible for the custody or safekeeping of any life insurance policy before its actual delivery to our Trustee nor after its withdrawal by its owner. c, Change Beneficiaries We shall have the right to change the beneficiary and to receive any dividends or other earnings of such policies or plans without accountability therefor to our Trustee or any beneficiary in this agreement. d, Assignment We may assign any policy or plan benefits to any lender, to the extent allowed by law, including our Trustee, as security for any loan to us or any other person. e, Surrendered Policies If any life insurance policy is surrendered or if_the beneficiary of any policy is changed, this trust agreement shall be revoked with respect to such policy. Nnweyer~ np revnratipn of the trust with respect t4 any policy, whether pursuant to the provisions of the preceding sentence or otherwise, shall be effective unless the surrender or change in beneficiary of the policy is accepted by the insurance company. Section ~. TJndistributcd let Inc®~ne Any net income not distributed under the provisions of this Article shall be added to the trust principal. 4-7 Article Five A.dministratio>n at Death of First T'r~astor Section 1. Trustee's Discretion to Pay Debts and Taxes After the death of the first of us to die, our Trustee, in its sole discretion, may pay all or any part of the deceased Trustor's following expenses, debts,- claims and taxes becoming due or payable by reason of the death of the first of us: a. Final medical expenses and all funeral costs; b. Legally enforceable claims against the deceased or the estate; c. Reasonable expenses of administration of this trust and the deceased's probate estate, if any; ,. d. Any allowances mandated by a court of competent jurisdiction to those dependent upon the deceased Trustor; e. Any estate, inheritance, succession, death or similar taxes payable by reason of the death of the first of us; and f. Any penalties or interest on any of the above claims, debts or taxes owed by the deceased or the estate. Section 2. Payment by Our Trustee or Personal ~2epresentative Our Trustee in its sole discretion may make distributions authorized under this Article either directly to the person or entities to whom payment is owed or to the personal representative of the deceased Trustor's probate estate. Vr'rit<en statements by the deceased's personal representative that such sums are due and payable by the estate shall be sufficient evidence of their amount and propriety for the protection of our Trustee. Our Trustee shall be under no duty to'see to the application of any such payments made to the deceased's personal representative. Section 3. Tax elections ~dith regard to the payment of any income tax, gift tax, estate tax, inheritance tax or any other tax required because of the death of the first of us, our Trustee shall have the right to make any 5-1 available elections allowed under the Iaw. Our Trustee is authorized to sign and file any tax return required because of the death of the first of us. Section 4. Payment of Death Taxes, Claims and Expenses a. Payment out of Trust Property All death taxes, claims and expenses payable under the provisions of this Article shall be paid by our Trustee out of the trust estate, except as specifically provided for elsewhere in this agreement. b, L~'xception for Property Passing Outside of Trust Notwithstanding any other provision in our trust, all death taxes, claims and expenses incurred by reason of assets passing outside of our trust or probate estate shall be assessed against those persons receiving such. property. c. Payment from Deceased Trustor's Share Notwithstanding any other provision in our trust, all death taxes, claims and expenses payable under the provisions of this Article shall not be paid from the Survivor's Trust as defined in Article Eight or from any property passing to the surviving Trustor that qualifies for the federal estate tax marital deduction. 5-2 ~rticie 5i~ 5pecif c ]Distributions ®~ 't'rust Pro~~rty Seed®~ 1. 1`d® SpeeP~e Bistrib~ti~~s Our Trustee shall make no specific distributions of trust property to any beneficiaries under this trust agreement upon our death. All distributions of trust property shall be made in the Articles that follow. 6-1 A,rticie Seen Division into Su>r-vi~o>r's 'Tr'ust and Fan~iiy Tlrus~ Section 1. Division of the Trust Estate Upon the death of the first Trustor to die, our Trustee shall allocate and distribute the remaining trust estate, including any property that becomes distributable or payable to our Trustee at the deceased Trustor's death, into two separate shares to be identified as the Survivor's Share and the Family Share. a. Surviving Trustor's Property Transferred to the Survivor's Share The Survivor's Share shall consist of: 1. The surviving Trustar's one-half (1/2) of all assets representing the joint marital property of the Trustors held by our Trustee. 2. All assets theretofore declared to be or specifically designated upon transfer to our Trustee to be the separate property of the surviving Trustor as held by our Trustee. 3. One-half (1/2) of all assets theretofore declared to be or specifically designated upon transfer to our Trustee by the Trustors to be the community property of the Trustors. b. Deceased Trustor's Property Transferred to the Survivor's Share The Survivor's Share sriall also consist of assets having a value equal to the unlimited federal estate tax marital deduction allowable to the deceased Trustor's estate, subject to the following: 1. The Survivor's Share shall be reduced by the net value for federal estate tax purposes of all other property that passes or has passed to the surviving Trustor under this trust agreement, the deceased Trustor's probate estate or otherwise that qualifies for the federal estate tax marital deduction. 7-1 2. The Survivor's Share shall be reduced by all federal estate tax deductions actually allowed other -than the marital deduction; 3. The Survivor's Share shall be reduced by the amount, if any, needed to increase the deceased Trustor's taxable estate for federal estate tax purposes to the largest amount that after allowing for the unified credit against federal estate tax, will result in the smallest, if any, federal estate tax being imposed on the deceased Trustor's estate; 4. The Survivor's Share shall be reduced by the credit for state death taxes available to the estate of the deceased Trustor, to the extent that the use of that credit does not result in or increase any death tax payable to any state; and 5. The Survivor's Share shall be reduced by any other allowable credits available to the estate of the deceased Trustor, except the credit for tax on prior transfers from a "transferor", as defined in Internal Revenue Code Section 2013, who dies within two years after the date of death of the deceased Trustor, but only to the extent that those credits do not disqualify this gift from receiving the marital deduction. 6. Notwithstanding any other provision in this Section, the Survivor's Share shall never have assets with a value less than the maximum amount of the unified credit against the federal estate tax as of the date of the deceased Trustor's death, unless the value of the surviving Trustor's trust property, less all liabilities, and the deceased Trustor's estate gross estate less all allowable deductions except the federal estate tax marital deduction, is less than the maximum value of the unified "' credit against the federal estate tax, in which case the entire amount of the deceased Trustor's trust property shall be allocated to the Survivor's Share. For purposes of calculations under this subsection, the Survivor's Share shall be reduced by the value of other property passing to it under this trust agreement, the deceased Trustor's probate estate, or otherwise that qualifies for the federal estate tax marital deduction. 7-2 c. Survivor's Share to be Administered as Survivor's Trust The Survivor's Share shall be held, administered and distributed according to the provisions of the Survivor's Trust as set forth in Article Eight of this trust agreement. d. Property Transferred to the Family Share The Family Share shall consist of all assets not distributed to the Survivor's Share. e. Family Share to be Administered as Family 't'rust The Family Share shall be held, administered and distributed according to the provisions of the Family Trust as set forth in Article Nine of this trust agreement. Section 2. Allocation and Valuation of Assefs In allocating assets between the Survivor's Share and the Family Share, our Trustee shall allocate the trust assets that qualify for the marital deduction between the Survivor's Share and the Family Share in cash or in kind, or partly in each, on a pro rata or non pro rata basis, and in undivided interests or not; subject, however, to the following: a. Qualification for 1l~Iarital Deduction Only assets that qualify for the marital deduction shall be allocated to the Survivor's Share. '~. v aluau~ins ut tiuv~.a~ivns iu t~iinu Assets allocated in kind shall be deemed to satisfy the marital deduction amount on the basis of their values as finally determined for federal estate tax purposes; provided, however, that our Trustee shall act impartially, consistent with equitable principles, requiring impartiality among beneficiaries, in allocating assets in satisfaction of the marital deduction share, so that any 7-3 distribution of assets in satisfaction of the marital deduction share shall be made of assets, including cash, fairly representative of appreciation or depreciation in the value of all property thus available for distribution. c. Income The Survivor's Share shall be entitled to a pro rata shaze of the income earned on deceased Trustor's residuary probate and trust assets from the date of deceased Trustor's death, including a share of income earned on assets used to discharge liabilities. d. Foreign Death Tax Credit Our Trustee shall not allocate assets that qualify for the foreign death tax credit to the Survivor's Shaze unless all other assets or interests available for allocation have been so allocated. e. Insurance on the Life of'the Surviving Trustor Our Trustee shall not allocate any policy of insurance on the life of the surviving Trustor to the Survivor's Share that is the separate property of the deceased Trustor. f. Insurance on the Lives of Others Any incidents of ownership to a policy of insurance on the life of a person other than the deceased Trustor shall be allocated to the Family Share. g. LacK of Property to F uliy F and the Survivor's Share If there is insufficient property qualifying for the federal estate tax mazital deduction to fully fund the Survivor's Share, the funding to the Survivor's Share shall be reduced accordingly. 7-4 ~.rtieie 3. Intention that Survivor's Share Qaalify for Marital Deduction We intend that the Survivor's Share qualify for the federal estate tax marital deduction and this agreement shall be construed accordingly. All other provisions of this trust agreement shall be subordinate to that intent. If the granting of any right, power, privilege, authority, or immunity to our Trustee or another person and the imposition of any duty upon. our Trustee or another person by any provision of this trust agreement, would disqualify any share or interest of a beneficiary hereunder from qualifying for the federal estate tax marital deduction provided by Section 2056 of the Code, such provision shall be ineffective if and to the extent that the same, if effective, would so disqualify such share or interest. The provisions of this Section shall also apply to the deceased Trustor's probate estate, personal representative and all beneficiaries, devisees and legatees. Notwithstanding any other provision in this trust agreement to the contrary, the surviving Trustor at any time shall have the right to direct our Trustee, in writing, to convert, within a reasonable time, any unproductive trust property to income producing property. Section 4. Disclaimer of Property Any property or portion of property that is disclaimed by the surviving Trustor shall be held, administered, or distributed according to the following terms: a. Property Disclaimed The surviving Trustor may disclaim any property held or distributed to or for the benefit of the surviving Trustor under this trust agreement. b. Time to Disclaim The surviving Trustor may disclaim within the time limits and under the conditions permitted by the laws regulating disclaimers. c. Delivery of Disclaiffier to ®ur Trustee A disclaimer by the surviving Trustor may be exercised by the delivery to our Trustee of an irrevocable and unconditional refusal to accept any or all property interests passing to the surviving Trustor or the Survivor's Share. ' 7-~ - d. Disclaimer of Survivor's Share If the surviving Trustor exercises a disclaimer with respect to any or all property set aside as the Survivor's Share, such disclaimed interest shall be added to the Family Share. e. Disclaimer o€ Family Share If the surviving Trustor exercises a disclaimer with respect to any or all property set aside as the Family Shaze, such disclaimed interest shall be distributed under the relevant terms of this agreement as though the surviving Trustor had predeceased the deceased Trustor. 7-6 ~irticlle fight Survivor's Trust Section 1. Rights of Surviving Trustor in the Survivor's Trust Our Trustee shall hold, administer and distribute the assets of the Survivor's Trust as follows: a. Payment of Income Our Trustee shall pay to or apply for the benefit of the surviving Trustor, so long as the surviving Trustor lives, the entire net income of the Survivor's Trust in monthly or other convenient installments agreed upon by the surviving Trustor and our Trustee, but not less often than annually. b. Discretionary Payment of Principal At any time or times during the trust term, our Trustee shall pay to or apply for the benefit of the surviving Trustor so much of the principal of the Survivor's Trust as our Trustee deems proper for the surviving Trustor's comfort, welfare and happiness. In exercising discretion, our Trustee shall give the consideration that our Trustee deems proper to all other income and resources then readily available to the surviving Trustor for use for these purposes that are then known to our Trustee. c. Right of Surviving Trustor to Vdithdraw Principal Our Trustee shah pay to the surviving Trustor as nriuch of u'~e u ast principal of the Survivor's Trust as the surviving Trustor may from time to time demand in a signed writing delivered to our Trustee. d. General Power of Appointment Upon the death of the surviving Trustor, our Trustee shall distribute all of the trust .., property, including the trust principal and accrued and undistributed income, to any person or entity, person or persons, and upon any trust, terms and conditions, or to or in favor of the estate of the surviving Trustor, as the surviving Trustor may direct by his or her last will or living trust agreement. No exercise of this general power of appointment shall be effective unless it refers to this trust agreement and expressly indicates an intention to exercise this general power of 8-1 - appointment. Our Trustee may rely upon any instrument admitted to probate as the last will of the surviving Trustor in carrying out the terms of the power of appointment and shall not be liable for any good-faith act in reliance upon that will, even if for any reason it is later determined to be invalid with respect to its purported exercise of this power of appointment. Section 2. 't'rustee's ~~scretYOn to Pay debts and Tazes The Survivor's Trust shall terminate upon the death of the surviving Trustor. Our Trustee, shall hold, and administer the unappointed balance or remainder of the Survivor's Trust as follows: a. 5urvivinb Trus#or's Debts and Taxes Our Trustee in its sole discretion may pay all or any part of the surviving Trustor's following expenses, debts, claims and taxes becoming due or payable by reason of the surviving Trustor's death: 1. Final medical expenses and all funeral costs; 2. Legally enforceable claims against the surviving Trustor or the surviving Trustor's estate; 3. Reasonable expenses of administration of this trust and the surviving Trustor's probate estate, if any; 4. Any allowances mandated by a court of competent jurisdiction to those dependent upon the surviving Tractor; 5. Any estate, inheritance, succession, death or similar taxes payable by reason of the death of the surviving Trustor; and 6. Any penalties or interest on any of the above claims, debts or taxes owed by the surviving Trustor or the '"' surviving Trustor's estate. Section 3. Payment by ®ur 't'rustee or Personal ~egresentative Our Trustee in its sole discretion may make distributions authorized under this Article either directly to the person or entities to whom payment is owed or to tree personal representative of S-2 the surviving Trustor's probate estate. Written statements by the surviving Trustor's personal representative that such sums are due and payable by the estate shall be sufficient evidence of their amount and propriety for the protection of our Trustee. Our Trustee shall be under no duty to see to the application of any such payments made to the surviving Trustor's personal representative. Section 4. Tax elections With regard to the payment of any income tax, gift tax, estate tax, inheritance tax or any other tax required because of the death of the surviving Trustor, our Trustee shall have the right to make any available elections allowed under the law. Our Trustee is authorized to sign and file any tax return required because of the death of the surviving Trustor. Section 5. AdYninistration of Survivor's Trust f2ernainder After payment of debts, expenses and taxes, our Trustee shall hold and administer the unappointed balance or remainder of the Survivor's Trust as provided in the Articles that follow. 8-3 ~.~°~~~~~ ~1~~ ~a~~~~ ~'I~°~s ~ ~ect~ou 1. R~g~ts ®f Sur~vivFag T'rustoa~ i~ tie ~a~~~y 'gust Our Trustee shall hold, administer and distribute the assets of the Family Trust as follows: a.. Payment of Income Our Trustee shall pay to or apply for the benefit of the surviving Trustor, so long as the surviving Trustor lives, the entire net income of the Family Trust in monthly or other convenient installments agreed upon by the surviving Trustor and our Trustee, but not Iess often than annually. b. Discretionary Payment of Priraeipal At any time or times during the trust term, our Trustee shall pay to or apply for the benefit of the surviving Trustor and our joint descendants so much of the principal of the Family Trust as our Trustee in its discretion deems proper for their health, maintenance, support and education. e. Guidelines for T'rustee's Discretion In exercising discretion our Trustee may pay to or apply more for some beneficiaries than for others and may make payments to or for one or more beneflCiai~es to *~~e exclusion .^,f ,^,therS. uouJPyPr~ ntr Trustee shall, at aII times; give primary consideration to the surviving Trustor's needs and only thereafter to our joint descendants. No amount paid or applied need thereafter be repaid to our Trustee or restored to our trust. In exercising discretion our Trustee shall give the consideration that our Trustee deems proper to a1I other income and resources that are Known to our Tr~tee and that are readily available to the beneficiaries for use for these purposes. Our Trustee shall accumulate and add to principal any net income not distributed. d. IJirr~itati®n m~ Discretionary Payment of Pria~cipal by Trustee ~e recommend, but it is not mandatory, that our Trustee shall first exhaust the principal from the Survivor's Trust before making discretionary payments of principal to the surviving Tnzstor from the Family Trust. 9-1 e. J~.estrECtfon an SurvivFng Trusto~-Ss l~.gght tea ~.eceve 1?rineipa.~ Notwithstanding any other provision in this agreement, if the surviving Trustor has the power to remove a Trustee of the Family Trust our Trustee shall not distribute any of the principal of the Family Trust that would, in any manner, discharge the surviving Trustor's legal obligation of support to a beneficiary of the Family Trust. In the event the surviving Trustor is mentally disabled and without the power to remove a Trustee of the Family Trust, our Trustee shall disregard this restriction during such period of mental disability. f. Sr~rvivAng Tr~astor's P~ght t® ~athdxaw >?~-fncigal The surviving Trustor shall have the power to withdraw from the Family Trust principal each calendar year those amounts that shall not exceed the greater of five thousand dollars ($5,000) or five (5) percent of the assets, valued as of the end of the preceding calendar year. The surviving Trustor shall exercise this power by a written instrument signed by him or her and delivered to our Trustee. This power is noncumulative and to the extent it is not exercised by the end of January of each calendar year, it shall lapse. This power shall exist each year until the death of the surviving Trustor. S~~t~€~n 2. ~~~ngtLe~fl ~'~wer- oaf ~S.gp~~nf~n~n>` By either a last will or by a living trust agreement, the surviving Trustor shall have the limited testamentary power to appoint to or for the benefit of our joint descendants some or all of the principal and any accrued but undistributed net income of the Family Trust as it exists at the death of the surviving Trustor. The surviving Trustor may appoint trust assets under this limited testamentary power among our joint descendants in equal or unequal amo•~znts, ei~her direc+~ly or in trust, as the surviving Trustor directs. This limited testamentary power of appointment shall not be exercised in favor of the surviving Tractor's estate, the creditors of the surviving Tractor, the creditors of t'~e s°~riving Trustor's estate, or in any way which would result in any economic benefit to the surviving Trustor. Se~~®~ 3a '~'~~°Fn~~a~~on of the I~'~~a~fly '1'~ust On the death of the surviving Trustor, the Family Trust shall terminate. all unappointed and undistributed trust assets, including any accrued and undistributed net income, shall be held, administered and distributed in the articles that follow. 9-2 C~~m~~ P~~ ~'r~s~ After the death of the surviving Trustor, our Trustee shall not create a common Pot Trust. All trust property that has not been distributed under prior Articles of this trust agreement shall be held, administered, divided, and distributed according to the provisions of the Articles that follow. 10-1 See~Ea~ ~. II~EV~si~n ®f '~r~s~ ~roper~y info Shires Our Trustee shall divide all trust property not previously distributed into separate shares of equal market value as follows: a. ®ne ~lfiare f®~° )/acla Lgving ~>~&ld Our Trustee shall create one share for each of our then living children. b. ®ne Share f®r ~aela deceased OhiTd Our Trustee shall create one share fofeach of our deceased children who has then- living descendants. Sec4~®~ 2. II~is~ribu~on ®f ~'~-~~~ Shares f©a° ~e~r ~i~F~g ~fi~lda°ea The trust share of each our children who survive us shall be held, administered and distributed as follows: \ a. II~nstt-ahutim~n of I~det ~nc~me and ~rPncrpal ~. Our Trustee shall promptly distribute, free of the trust, all accumulated net income and principal of the trust share to each of our living children who survive us. h. ~ist~-gb~ti®~a ~Jp®n Death cf a Ohbld ~~® ~~rvives ~7s if any child who survives us dies before the complete distribution of his or her trust share that child's trust share shall terminate and our Trustee shall distribute ._, the balance of the trust property to such child's then-living descendants per stirpes. if such deceased child has no then-Living descendants our Trustee shall distribute the balance of the trust property equally to the other beneficiaries named in this Article per stirpes. 11-1 ~~~~~~ ~. ~~c~~tll~~tr~~ o~f Tt°~s~ Sh~~°~ 1:~~ ~-~s~c~c~~.~t ~~ ~ec~~~ed ~'hr~d Our Trustee shall promptly distribute, free of the trust, all accumulated net income and principal of the trust share set aside for each of our deceased children to their descendants per stirpes. ~~etFa~rE ~o ~+g~t~-~ha~~~ns t® ~~~ei~~e ~~- ~~s~i3~e~ ~en~~~f~.~-~es Notwithstanding any other provision in this trust agreement, if any person otherwise entitled to receive a distribution of trust property is under 21 years of age or is mentally disabled or legally incompetent as defined in Article Fifteen, our Trustee shall retain and administer that person's trust property for his or her benefit as follows: a. Orr ')<'rr~stee's 13iscretion Our Trustee may pay to or apply for the benefit of such beneficiary so much of the net income and principal of the trust as our Trustee in its discretion deems proper considering all other sources of income and resources available to such beneficiary and known to our Trustee. b. Paya~aeffits bade to Beneficiary ®~° hers®nal l~ep~-esentative Our Trustee is authorized to make payments under this Section either directly to the beneficiary, to the beneficiary's personal representative or to any other person our Trustee may deem proper to be used for the benefit of the beneficiary. ce Trustee's l~eeiisic~ns a.re Final All decisions by our Trustee as to those it makes payment to, the purposes for which these payments are made and the amounts to be paid out of the trust are within our Trustee's sole and absolute discretion. d+, ~,TnelstriT~A.~ted l~?et fne~*rne All undistributed net income shall be accumulated a~?d added to the principal of ,., the trust. 11-2 e~ '1•'er~n~.Yn~.tiar~ and ~BStribution Our Trustee shall distribute the trust property to a beneficiary under this Section as follows: one-half when such beneficiary reaches age 18 and the remaining balance when such beneficiary reaches age 21, or when he or she is no longer disabled as determined by a court of competent jurisdiction, or upon certification by two licensed physicians that such benef ciary is able to properly care for his or her property and person, or at a Later date if other trust provisions in this Article direct. Death oaf ~asabfled ®a- ~Jnderage l~enefZeiary Upon the death of a beneficiary under this Section, our Trustee shall distribute all of such beneficiary's remaining trust share, including the trust principal and accrued and undistributed income, to any person or entity and upon any trust, terms and conditions, or to or in favor of the estate of such deceased beneficiary, as he or she may direct by his or her last will or living trust agreement. No exercise of this general power of appointment shall be effective unless it refers to this trust agreement and expressly indicates an intention to exercise this general power of appointment. 11-3 ~~~~~-~~~~~~~~ ~~ I~~ ~~~~~~~.~~€~ ~~~e~e~~~-~~s NONE 12-1 S~~fp~~ ~o ~.~~~~~ed ~~~e ~'®~- ~c~-~r~s~ees a. ''rust®rs ~ervi~nb as acs-'~'ru~stees If both of us are serving as Trustees at the same time under this agreement, either one of us may make decisions and bind the trust in the exercise of aiI powers and discretions granted to us under this agreement ~~ithout the consent of any other Trustee. b. ~Jnanaffi®aas ~®te f®r ~'wo '~~'u5tees If only two Trustees are serving other than the two of us, they shall act unanimously in the exercise of all powers and discretions granted to them under this agreement. e. l~~j®~ty ~7®te fc~r 1l~~r°e '~'laan '~'w® Tra~stees At any time that there are more than two Trustees serving under this agreement, they shall act by majority vote and any exercise of a power or discretion by a majority of the Trustees shall have the same effect as an exercise by all of them. sl. ~®~art ~rc~er des®lves Disputes If the Trustees, other than the two of us, are not able to reach agreement on any decision as set forth in this Section, they shall petition a court of competent jurisdiction for instructions and shall take no action on the disputed matter until a court order deciding the issue has been rendered. ~~W~~tg ~. ~~w~~° t® ~e~e~~~e Notwithstandang any other provision of this agreement, any one or more of the Co-Trustees serving under this agreement may from tune to time delegate to another Co-Trustee or Co-Trustees routine acts of trust administration. 13-1 ~ee~~~~ ~~ I~T~ ~ar~d ~eel~i~°e No Trustee under this agreement shall be required to post any bond for the faithful performance of its responsibilities. ~eet~en ~. '~r~TS~ee ~eange~~~~io~a Our Trustee shall be entitled to reasonable compensation for services rendered payable without the need for a court order. In calculating the amount of compensation customary charges for similar services in the same geographic area for the same time period shall be used as guidelines. Our Trustee shall also be entitled to reimbursement for reasonable costs and expenses incurred during the exercise of its duties under this agreement. Secti©~ ~. change iri ~®~-pa~~.~ew'~'~-~s~ee A.TTy corporate successor to the trust business of any corporate Trustee named under this agreement or acting hereunder shall succeed to the capacity of its predecessor without re- conveyance or transfer of trust property. See~on 6. ~'®eaea- ~~ ~~vg~e ®~- C~rnb~ne '~t-a~s~s Our Trustee shall have the power to divide a single trust into separate shares, each to be administered iln accordance with the terms and conditions of the single trust from which they were created when our Trustee i.n its discretion determines `inat division is desirable or advisable in view of tax considerations, including considerations related to the income tax, the gift tax, the estate tax or the generation-skipping transfer tax or other objectives of the trusts and their beneficiaries. Our Tr~TsteE Shall root be rcgi.TiFed tv make a pliySTCal Segrega".tlvii. or dT"vTSTon of the varivLTS u ~TSt shares created under this trust agreement except as segregation or division may be required by reason of the termination and distribution of any of the trusts, but my Trustee shall keep separate accounts and records for different undivided interests. Our Trustee in its discretion shall have the further power to combine two or more trusts having subs`~arTtially the same terms into a single trust for purposes of administration when tax or other factors indicate that such combination would be desirable or advisable. 13-2 In deciding whether to combine trusts our Trustee should consider the generation-skipping ~, • ~~ Inclusion ratio of the trusts to be combined. Trusts having the same inclusion ratios may be combined. Trusts having different inclusion ratios should generally not be combined unless their inclusion ratios are maintained unchanged through substantially separate and independent shares of different beneficiaries within the meaning of I.R.C. Section 2654(b), and the applicable regulations thereunder. See~~on 7. ~e~~inat~on o~ Sfina~l '~'ratst Our Trustee shall have the power in its discretion to terminate any trust created under this trust agreement after the death of both Trustors whenever it becomes so small in relation to the casts of administration as to make continuing administration uneconomical. Upon termination, our Trustee shall distribute the principal and any accrued or undistributed net income to the income beneficiaries in proportion to their shares of the income. Tf no fixed amount of income is payable to specific beneficiaries, our Trustee shall distribute the principal and any accrued or undistributed net income in equal shares to those beneficiaries who would then be entitled to income payments from the trust. '~ Sec~i~~a ~. ~F~n~t ~~ '~r~s~ee's ~~sere~:®~ Notwithstanding any language purporting to confer absolute, sole or unrestricted discretion on our Trustee in exercising any discretionary power with respect to this trust, our Trustee shall at all times act in accordance with fiduciary principles and shall not act in bad faith or in disregard of the purposes of our trust. See~flo~ 9. ~1rfl~e~ l~m~~ee tm '~rus~ee Until our Trustee receives written notice of any death or other event which triggers the right to payments from any trust created under this agreement, it shall incur no liability for distributions l,. ~~.1-. 4.. L c mnf r~ j : Eu"LLvil ev~°.lit. Snade Il"'1 good 1p.IL11 w persons 'vJhoSe IratereStS may tiavv been aff.,.,Le., ~y See~~on ~0. ~u~ ~o t~ee~un~ Qur Trustee shall render accounts to the income beneficiaries under this trust agreement at least annually at the termination of a trust created hereunder and upon a change in the Trustees in the manner required by law. 13-3 See*~~r~ ~~o I~Ta ~aert°~ ~~~e~Tts~~ No trust created under this agreement shall require the active supervision of any state or federal court. 13-4 '~x~a~~~~ ~~~~~~~~~ ~~~~~°~ ~e~~~oa ~o '~'~-usfee's dowers To carry out the purposes of the trusts created under this agreement and subject to any limitations stated elsewhere in this instrument, our Trustee shall have all of the following powers in addition to ail of the powers now or hereafter conferred on Trustees by law: a. ~etenti®n of ;?r®perty Our Trustee shall have the power to retain any property received into the trust at its inception or later added to the trust without regard to whether the trust investments are diversified as long as our Trustee considers that retention is in the best interests of the trust or in furtherance of our goals in creating the trust. b, t~dditi®ns Our Trustee shall have the power to receive additions to the assets of the various masts created under this agreement from any source. c, Business Participati®n Our Trustee shall have the power to terminate, to continue or to participate in the operation of any business enterprise including a corporation, a sole proprietorship or a general or limited partnership and to effect any form of incorporation, dissolution, liquidation, reorganization, including but not limited to recapitalization and reallocation of classes of shares or other change in the form of the business enterprise or to lend money or make a capital contribution to any such business enterprise. d. ~ermissiinle ~nvestm.ents •-• Our Trustee- shall have the power to invest and reinvest the assets of the trust as r ~L _ ......,~ _ _.. 4 ..: our Trustee may determine to be in the best interests of wo ~ a~~ wi~ioii~ t;mi~a~~on by any law applicable to investments by fiduciaries. The permitted investments and reinvestments may include securities such as common or preferred stock, mortgages, notes, subordinated debentures and warrants of any corporation and any common trust fund administered by a corporate f duciary or other property real or personal including sa<rings accounts and deposits and interests in r^~utual or money market funds or investment trusts, annuities and insurance whether or not such 14-1 investments are unsecured or of a wasting nar~zre. e. I~ealggg v~ith gr®pea-ty Our Trustee shall have the power to acquire, grant or dispose of property including puts, calls and options (including options on stock owned by the estate), for cash or on credit, including maintaining margin accounts with brokers at public or private sale upon such terms and conditions as the fiduciary may deem advisable and to manage, develop, improve, exchange, partition, change the character of, abandon property or any interest therein or otherwise deal with property. ~. Corr®~~narg E4~rtlnernty Our Trustee shall have the power to borrow funds from any person including our Trustee, guarantee indebtedness or indemnify others in the name of the trust and to secure any such obligation by mortgage, pledge, security interest or other encumbrance and to renew, extend or modify any such obligation for a term within or extending beyond the admir~i.stration of the term of the trust. No lender shall be bound to see to or be liable for the application of the proceeds of any obligation and our Trustee shall not be personally liable for any obligation. g. I,e~snng ~.~nth®raty Our Trustee shall have the power to make, renew or amend for any purpose a lease as lessor or lessee for a term within or beyond the term of the trust with or without option to purchase. h, Iy~~~r°afi lies®a~~ces Our Trustee shall have the power to enter into any arrangement or agreement, including a lease, pooling or unitization agreement for exploration, devel_oprnent, operation, conservation and removal of minerals or other natural resources. &e FJ~ting Rgghts Our Trustee shall have the power to vote a security in person or by general or " limited proxy, to participate in or consent to any voting trust, reorganization, dissolution, liquidation or other action affecting any securities and to deposit securities with and transfer title to a protective or other committee. ~, Title t® t~ssets Our Trustee shall have the power to ho1_d securities and other property in negotiable form or in the name of a nominee (including "street name" of a broker) 14-2 or by deposit to a clearing corporation with or without disclosure of the Trustee relationship, but our Trustee shall be responsible for the acts of any nominee or clearing corporation in connection with the property. k. Insuragee Our Trustee shall have the power to il-asure the assets of the trust against any risk and our Trustee against liability with respect to third persons. 1, ~ettlenaent of ~isp~ates Our Trustee shall have the power to pay or contest any debt or claim and to compromise, release and adjust any debt or claim and to submit any matter to arbitration. ffi, ~aynnent off 1xpenses Our Trustee shall have the power tb pay any taxes, assessments, reasonable compensation of our Trustee and other expenses incurred in the collection, management, care, protection and conservation of the trust property. aa. Pri~aeipal and Ine®amme Our Trustee shall have the power to allocate items of income or expenditure to either income or principal and to create reserves out of the income, all as provided by law and to the extent not so provided to allocate or create reserves as our Trustee in its discretion deems appropriate and our Trustee's decision made in good faith with respect thereto shall be binding and conclusive on all persons. o, division of 'Trust Our Trustee shall have the power to make any distribution or payment in kind or in cash or partly in hind and partly in cash and to cause any share to be corr_posed of cash, property or undivided interests in property different in hind from any other share, either pro rata or non pro rata, ~xrithout regard to differences in the tax basis of such property and without the requirement of making any adjustment of ~~" the shares by reason of any action taken pursuant hereto. Any division, allocation, apportionment or valuation of the property to distribute the assets to or among any of the trusts or beneficiaries shall be made by our Trustee and the good faith determination of our Trustee shall be binding and conclusive on a?1 parties. 14-3 1~` ~LtPg~.t3~TL2 Our Trustee shall have the power to prosecute or defend actions, suits, clairris or proceedings for the protection or benefit of the trust and our Trustee in the performance of our Trustee's duties. ~. I~+ ffiplay~nen$ df ~.gerg$s Our Trustee shall have the power to employ agents, including attorneys, accountants, investment advisors, custodians, appraisers or others, to advise or assist our Trustee and to delegate to them fiduciary powers and to indemnify them against liability for positions taken in good faith and with reasonable basis. r, ~®rporate Fiduei~ry If any stock of a corporate Trustee or of any affiliate or successor of a corporate Trustee shall be included in the assets of the trust, the Trustee shall have full authority in the Trustee's sole discretion and notwithstanding any regulation or rule of law to the contrary to retain the stock and any increases resulting from stock dividends and stock splits and from the exercise of purchase rights and the purchase of fractional shares needed to round out fractional share holdings that may arise concerning the stock. The Trustee shall vote the stock either directly or by proxy, except to the extent the Trustee is prohibited by law from voting the stock, in accordance with the written instructions of a majority of the living beneficiaries then entitled to current distributions of income or their personal representatives. In the event there are no eligible beneficiaries to give instructions, the Trustee is authorized to vote the stock in the best interests of the beneficiaries, in view of the purposes for which the trust was created. s, Inves$mem$ Transactions ~Jith regard to record keeping for investment transactions, our Trustee need not provide copies of confErmations or si-nilar natEf catEOns each tinEe a trade or investment transaction occurs, but investment transactions shall be set forth in our Trustee's periodic accounting. ._, $, J~epaars and ~nng~r®vernen$s Our Trustee shall have the power to make ordinary or extraordinary repairs or alterations in buildings or other structures, to demolish any improvements, to raze existing or erect new parry walls or buildings. 14-4 u. ~usrrF:ess personnel Our Trustee shall have the power to elect or employ directors, offacers, employees, partners or agents of any business and to compens~ner or aeent of a Terusteeror a any such person is a Trustee, director, officer, p g beneficiary of the trust. v, Farm or ranch property With respect to farm or ranch property, our Trustee shall have the power to participate in and operate any farming (including tree farming) or ranch operation personally or with hired labor, tenants or sharecroppers to lease any farm for cash or a share of crops under a lease which permits or precludes the material participation of our Trustee to fertilize and improve the s©il, to employ conservation practices and to participate in government programs and to perform any other acts deemed necessary or desirable to operate the property. In making a decision whether to materially participate in farming or ranch operations, our Trustee shall consider whether an election should be made or has been made under IRC § 2032A to qualify for special farm-use valuation. ~.. ~ac~ary "Trustees If, for any reason, our Trustee deems it advantageous to act through an ancillary Trustee, our Trustee may designate an ancillary personal representative or Trustee qualified to serve in the jurisdicee su h of the p werslgrant dsundez this agreeme t delegate to such ancillary Trust as our Trustee deems advisable without being chargeable with loss if any ansrng out of such designation or delegation. Our Trustee may specify whether any co~yorate Tn:stee or any person or persons acting ?n an ancillary capacity hereunder shall serve with or without bond. Except as may be otherwise specifically provided, no ancillary Trustee need comply wi-`~h the provisions of any Uniform Trustee's Accounting Act, the Uniform Trust Act or sirralar acts in force in any state where the f duciary may be acting. ~. ~.etention of ~l®sely field fntere5t "' Our Trustee shall have the power to retain any real estate interests, closely held securities or affiliated companies or business interests, and to sell or dispose of such interests only after careful consideration and after det srmininh ~~ or its disposition is in the existing circumstances in the best zn beneficiaries. 14-5 yo Exe~-cbse of Auth¢rity Except as otherwise provided in this agreement, our Trustee shall have the power to do all acts that might legally be done by an individual in absolute ownership and control of property. ~. ~'¢~der°s ¢f an interested Trustee Any Trustee who has an interest as a beneficiary in this trust agreement or any trust created by it shall be an interested Trustee. In all instances where an interested Trustee distributes or participates in the distribution of trust income or principal to or for the benefit of such Trustee which is limited by any standard other than the standards of education, health, maintenance and support, then the distribution shall be limited by the ascertainable standards of education, health, maintenance and support. No individual Trustee shall exercise or participate in the exercise of such discretionary power regarding distributions to any person or persons such Trustee is legally obligated to support as to that support obligation. 14-6 ~~°~~~~e ~ ~~~~~~ ~~>~e~~~ ~r®av~~~~l~~ ~ee~~n ~. ~pe~~th~-Ff~ ~'t-~tee~~®~ Neither the principal nor the income of any trust created or contained under this agreement shall be liable for the debts of a beneficiary nor shall the same be subject to seizure by any creditor of any beneficiary under any lien or proceeding at law or equity. Except to the extent otherwise expressly provided in this agreement, no benef ciary shall have the authority or power to sell, assign, transfer, encumber ar in any manner to dispose of a beneficial interest whether income or principal. The limitations herein shall not restrict the exercise of any power of appointment or the right to disclaim by any beneficiary. Sec~~n 2. 'the I~~~e ~g~Il~s~ ~er~e><at~~ies Unless sooner terminated or vested in accordance with other provisions of this agreement, all interests not otherwise vested including but not limited to all trusts and powers of appointment created hereunder shall terminate twenty-one (21) years after the death of the last survivor of the group composed of us and our lineal descendants Living on the date of the death of the first of us to die. At that time, distribution of all principal and all accrued, accumulated and undistributed income shall be made to the persons then entitled to distributions of income and in the manner and proportions herein stated irrespective of their then attained ages. ~ee~®n ~. ~~.em~~ete~ey ~~a ~g~a®fl~flEy Far ail purposes under this agreement, a person shall be deemed disabled, incompetent or legally incapacitated if and so long as a guardian or conservator of his or her person or estate duly appointed by a court of coFnpetent jurisdiction continues to serve, or upon certification by two licensed physicians that such person is unable properly to care for his or her person or property. ~ee~p~n 4. ~x~ec~~-_rze ~~~ ~~-~~eFp~fl ~~.v~e~'vs A.ll payments of income or principal shall be made in such of the follo~~ri_ng ways as our Trustee determines appropriate: 15-1 a. To each respective beneficiary in person upon his or her personal receipt; b. Deposited in any bank to the credit of such beneficiary in any account carried in his or her name or jointly with another or others; c. To the parent or legal representative of the beneficiary; d. To a Custodian under a Uniform Transfers to I`vlinors Act selected by our Trustee for such period of time under applicable law as our Trustee determines appropriate; e. To some near relative, friend or institution having primary responsibility for the care and custody of the benef ciary; f, By our Trustee using such payment directly for the benefit of such beneficiary; or g. To our Trustee of any revocable trust of which the beneficiary is the Trustor. ~'~efi®n So ~c~~~a~~n For all purposes under this agreement, the term "education" shall be given broad interpretation and may include but not be limited to: a. ~a~h ~ehool Education at public or private elementary or high schools, including boarding schools. b. Ca~IPege Undergraduate and graduate study in any and all fields whatsoever, whether of a professional character in colleges or other institutions of higher learning. c. ~pecfialr~ed '1i'r~sai~g specialized formal or informal training in music, the stage, the handicrafts, the arts, or vocational or trade schools whether by private instruction or otherv~~ise. l~-2 d~ Other ~drrca.tional ~-ctivities Any other activity including foreign or domestic travel which shall tend to develop fully the talents and potentialities of each beneficiary regardless of age. Sec~-~o~ ~. I~~-~on>ses~ ~~a~se If any person or entity, other than one of us singularly or in conjunction with any other person or entity directly or indirectly contests in any court the validity of this agreement, including any amendments thereto, then the right of that person or entity to take any interest in the trust property shall cease and that person or entity shall be deemed to have predeceased both of us. Sec~on 7. ~ise~~~r~e~° ~~ ~e~e~e~~~ T~1o beneficiary shall be entitled to accelerate any distribution to the beneficiary or to terminate his or her trust interest and thereafter receive outright distribution by use of a disclaimer. See~o~a ~. S~rn~~t~~eo~s ~3ea>rh For purposes of this agreement,ri~~ the smaller tax blet state shall be deemed to have survived cannot be established the Trusto the Trustor with the larger taxable estate. If both of our taxable estates are equal, the husband Trustor shall be deemed to be the survivor. Tf o„e, }.e;1ef c.a'"y cinder thig as ePment acid either [fir both Trustors die under cu'cunlstanCeS in ~~ ~~~ which the order of deaths cannot be established, the Trustors or Trustor shall be deemed to have survived the beneficiary and this agreement shall be construed accordingly. See~~~ ~. ~~i:~dre~ ~tr.~ ~~sr~e For purposes of this agreement, '`children" means the lawful blood descendants in the fast degree o£zhe parent designated and "issue" and "descendants" mean the lawful blood descendants in any degree cf the ancestor designated provided, however, that ;f a person has been adopted, that person shall be considered a child of such adopting parent and such adopted child and his or her issue shall be considered as issue of the adopting parent or parents and of anyone who is by blood or adoption an ancestor of the adopting parent or either of the adopting parents, The terms "child," "cr~ildren," "issue," "descendant" and "descendants" or those terms preceded by the terms "living'` or "then living shall include the lawful blood descenda~?t in t_he f~rst degree of tl?e parent designated even though such descendant is born after the death of such parent. 153 Sec4~on ~f~. ~e~fl~f~on of ~e~~h 'Ti; a~~es The term "death taxes, as used in this agreement, shall mean all inheritance, estate, succession and other similar taxes that are payable by any person on account of that person's interest in the estate of the decedent or by reason of the decedent's death, including penalties and interest but excluding the following: . a, Any addition to the federal estate tax for any "excess retirement accumulation" under Internal Revenue Code Section 4980A. b. Any additional tax that may be assessed under Internal Revenue Code Section 2032A. C, Any federal or state tax imposed on a generation-slipping transfer, as that term is defined in the federal tax laws, unless that generation- skipping transfer tax is payable directly out of the assets of a trust created by this instrument. . Seet~or~ ~fl. o~-ds ~.e~~~~g ~® the ~~~e~n~l ~e~e~~e bode As used in this agreement, the words "gross estate," '`adjusted gross estate," "taxable estate," "unified credit," "state death tax credit," "maximum marital deduction," "marital deduction," "pass" and any other word or wo; ds ehitl~h from ~ean~ng as mch~words ha v for the purposes to the Internal Revenue Code shal_ ha of applying the Internal Revenue Code to our estate. For purposes of this agreement, our "available generation-skipping transfer exelllpllorl" means the generation-skipping transfer tax exemption provided in section 2631 of the Internal Revenue Code of 1906, as amended, in effect at the tim© at ~ to our 1 fetime transfers by us or by operat on(of the amount, if any, of our exemption all law and (2) the amount, if any, we have speci zcally allocated to other property of our gloss estate for federal estate tax purposes. For purposes of this trust agreement, if at the time of each of our deaths either of us has made gifts with an inclusion ratio of greater than zero far which the gift tax return due date has not expired including extensions and a ~ o~as been ailo at ditoed~iSeshtrall~b~ de~o the extent generation-skipping transfer exemp necessary and possible to exempt the transfers from generation-skipping transfer tax. Reference to Sections of the Internal Revenue Code and to the Internal Revenue Code shall refer to `she Internal Revenue Code amended to the date of each of our deaths. 1 ~ -4 ~~~~~~~~ 1~~ ~ersa~~.~ ~~p~°e~~~~a~~v~ For purposes of this agreement, the term "personal representative" shall mean Trustee, executor, executrix, administrator, administratrix, conservator, guardian, custodian or any other type of personal representation. S~cfi~~ 13. ~end~r aid I~T~.rrFbe~- In this agreement where appropriate except where the context otherwise requires, the singular includes the plural and words of any gender shall not be limited to that gender. As used in this agreement, when a distribution to beneficiaries is "per stirpes," it shall mean that the distributions are to be divided into as many equal shares as there are then living children of such benef curies and deceased children of such beneficiaries who left then-living descendants. Each then-living child of the beneficiary shall receive one share and the share that is allocated to each deceased child of the beneficiary shall be divided equally among such deceased child's then-living descendants. See~c~~ 15. ~apt~~~s The captions of Articles, Sections and Paragraphs used in this agreement are for convenience of l„-„ le. a 1. 17 b. 'rt.+i~ro na ire f}~o rnnc}r~irtinn .~,r :nte~Yretatl0n of ~h~.~+ 1 e1G1Gn~:e olll~' Cillll snail leave no $i~tuti~.cu'lv.. ,.. ~+-i'r ~+vi""i "'`'""'u agreement. ~ee~~rt 16. ~ev~t-~~~~F~ Should any of the provisions of this agreement be for any reason declared invalid, such invalidity shall not affect any of the other provisions of this instrument, and all ~nvalyd provisions Shall be wholly disregarded in interpreting this agreement. Se~~o~~ ~.7. ~~~~~~o~ ~efe~e~~~es Unless the context clearly requires another construction, each statutory reference in this agreement shall be construed to refer to the stat.~.tory section mentioned, related successor sectFons and corresponding provisions of any subsequent law including all amendments. 15-~ Sec~~®n ~~~ ~a~vern~ng Stake Lam This agreement and the trusts created under it shall be construed, regulated and governed by and in accordance with the laws of the State of Pennsylvania. ~i1e have executed this agreement on the date set forth on the first page of this agreement. We certify that we have read our foregoing revocable living trust agreement and that it correctly states the terms and conditions under which our trust property is to be held, managed and disposed of by our Trustee. We approve this revocable Living trust in all particulars and request our Trustee to execute it. JAMES F. PREDM©RE, Trustor JAMES F. PREDMORE, Trustee ~, BERJ~ICE M. PREDMO~tE, Trustor ,Di~.~i~ BERNICE M. PkEDMORE, Trustee 1 ~-6 STATE OF PENNSYLVANIA ~ SS COUNTY OF DAUPHIN ~ On this the ,, !~ day of / ,~ , 19 ~~ ,before me, , r' ~ j ~~;~ ~~~~~ _ , the undersib ed officer, per- o y appeared JAMES F. PgEDMORE and BE IvI. P DMORE, Trustors, known to me (or satisfactorily proven} to be the persons whose names are subscribed to the within instrument and acknowledged that they executed the same for the purposes therein contained. In witness whereof I hereunto set my hand anal official seal. I~dotary Public /~ NOTARIAL SE1L -~~~ Title of O i~~imelstown, Dauphin County My Commission Expires May 17,1999 STATE OF PENNSYLVANIA ~ SS COUNTY OF DAUPHIN ~ / On this the ~' day of 19 ~~ before me, ~~~~- ~t, ~n~ ~°~~~- ~ a ea.ed JAMES F. PREDIv1OP.E, and BERNIG~~M. PRA MORE, the un-aersigned officer, pe so~lly pp "' Tnzstees, known to me (or satisfactorily proven) to be the persons whose names are subscribed to u'~e w~u~in ins~~:ment a"-d acknowledged that they ehecuted the same for the purposes therein contained. witness whereof I hereunto set my hand and official seal. ~~ ~ ~; ~ i~~~.~, ~~ ~~„1%~,~.~o~ Notary Public ~ ~% NOTARIAL SE L - ~C Title of ~~y C~ommession Expaes May 17n1999 15-7 METRO BANK Ruth Chatburn Appel & Yost LLP 33 N Duke St Lancaster PA 17602 RE: Estate of: Bernice M. Predmore Tax Identification Number: 193-36-2573 Date of Death: 7/24/11 To Whom It May Concern: August 16, 2011 This letter is in reference to decedent account information you requested for the individual listed above. We are able to provide the following: Account Type: Joint Checking Account Number: 513204669 Date Opened: 6/5/2000 Primary Owner: Bernice M Predmore Secondary Owner: Elizabeth M Patterson Date of Death Balance: $2,809.27 YTD Interest: $5.02 Account Type: Joint Money Market. Account Number: 537809295 Date Opened: 7/31 /2007 Primary Owner: Bernice M Predmore Secondary Owner: Elizabeth M Patterson Date of Death Balance: $6,343.41 YTD Interest: $342.28 Please feel free to contact me at (717) 412-6105 if I may be of further assistance. Sincerely, Cindy Shultz Support Associate/Deposit Services Metro Bank 3801 Paxton Street 888.937.0004 Harrisburg, PA 17111 mymetrobank.com Aug. 23. 2011 2:34PM PNC BANK ~~~ !.~liNO'!'H~V~JIY August 23, 2011 Ruth Chatburn Est 33 N Duke St Lancaster, PA 17602 RE: Name: Beraice M Predmore SSN: 193-36-2573 DOD: 07-24-2011 Dear Ms. Chatburn: No. 2190 P. 1/2 In response to your request for Date of Death (DOD) balances for the customer noted above, our records show the following: Cheelang Account Account # 5140050483 BEI2NICE M PREDMORE JUDITH A SOMERICK MARTHA P MACADAM DOD balance: $4,994.16 non interest bearing Savings Account Account # 5005034296 BERNICE M PREDMORE JUDITH A SOMERICK MARTHA P MACADAM DOD balance: $12,658.94 + 0.14 accrued interest Interest paid 01-01-2011 thru 07,24-20?~ 1 $25.31 YTD Established: 02-16-2007 Established: 03-30-2007 Please note that this office provides date of death balances for deposit accounts (IRAs, CDs, Checking and Savings). We do Aot process any 5nancial transactions or provide statements. If you need assistance with any of these items, please call 1-888-PNC-BANK (1-888-762-2Z6S) or stop by your loco! PNC Bank branch office. Sincerely, National Financial Services Center >SNC Bank, N.A. Member FDIC Page 1 of 2 Aug, 23. 2011 2;34PM PNC BANK No, 2190 P, 2/2 This message is intended for the use of the individual or entity to which it is addressed and may contain information that is privileged confidential and exempt from disclosure under applicable law. If the reader of this message is not the intended recipient or the employee or agent responsible for delivering this message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communications is strictly prohibited. If you have received this communication in error, please notify me immediately by reply or by telephone at 800-762-1775 and immediately destroy this faxed document. . Page 2 of 2 PENNSYLVANIA INHERITANCE TAX ~ ~ INFORMATION NOTICE -__ `-~ i -, FILE "~NQ . ~'~, ~ ~~ ~, ~, BUREAU OF INDIVIDUAL TAXES, AND ~ Po Box zsobol ~;~' ~P~nnS 1V ACN ~~s ~~ 6~ HARRISBURG PA 17128-0 601' ~(- _ =..pEpgRTMEN~nFR~;~u~ TAXPAYER RESPONSE DATE o8-24-2011 ~;,. ; _ ,. . ~~.REV.-1543 E% RFP ~(OS~v _ i E ~_ y ~_: _ ~_. ~ t CL~!~K OF .-.~ L~ ELIZABETH M PATTERSON 4908 FRANKLIN ST HARRISBURG PA 17111 EST. OF B~RNICE M PREDMORE SSN 193-36-2573 DATE OF DEATH 07-24-2011 COUNTY CUMBERLAND REMIT PAYMENT AND FORMS T0: REGISTER OF WILLS 1 COURTHOUSE SQUARE CARLISLE PA 17013 TYPE OF ACCOUNT SAVINGS ® CHECKING TRUST CERTIF. METRO B ANK provided the department with the information below, which was used in calculating the inheritance tax due. Records indicate that at the death of the above-named decedent, you were a joint owner/beneficiary of this account. If yoU are the spouse of the deceased and any amount other than zero is reflected below on the Potential Tax Due line, note no tax may be due, but you must notify the department of our relationshi to the deceased by checking Box C in PART 1 below and writing "spouse" in PART 2. If you oelieve Lne information is incorrect, please obtain written correction from the financial institution, attach a copy to this form and return it to the above address. Please call 717-787-8327 with questions. COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 537809295 Date 07-31-2007 To ensure proper credit to the account, two Established copies of this notice must accompany payment to the Register of Wills. Make check Account Balance $ 6 ~ 343.41 payable to "Register of Wills, Agent". Percent Taxable X 50.OD0 NOTE: If tax payments are made within three Amount Subject to Tax $ 3 ~ 171.71 months of the decedent's date of death, X 15 deduct a 5 percent discount on the tax due. Tax Rate Anv inheritance tax due will become delinquent Potential TaX Due $ 475.76 nine months after the date of death. TAXPAYER RESPONSE PART FA.ILURE~~rTO RESPOND; WILL~`_RESllLT IN ANA flFEICiAL TAX. ASSESSMENT. A. ~ The above information and tax due is correct. Remit payment to the Resister of Wills with two copies of this notice to obtain a discount or avoid interest, or return this notice to the Register of Wills and CHECK an official assessment will be issued by the PA Department of Revenue. ONE C BLOC K B. The above asset has been or will be reported and tax paid with the Pennsylvania inheritance tax return 0 N L Y filed by the estate representative. C. ~ The above informs ion is incorrect and/or debts and deductions were paid. - Complete PART 2~ and/or PART O below. If indicating a different tax rate, please state 'r, OFF>jC~AL`=I1SE rDNLY ',',~ AAF,; ~ PART relationship to decedent: iA ~ ~ ~ }~ '~ PA: DEP,AI~T?9ENT ~Of~~REVENUE TAX RETURN - CALCULATION OF TAX ON JOINT/TRUST ACCOUNTS PAD ~~~ k K p „~„KF r~ ~~7~ r ''. LINE I. Date Established x ~„ „„ Y ~.`' Rrd ~1Yj_r ~ r .. y ... .1 t .tEY a tb 2. Account Balance 2 3 '~ , Nr, 2k ' 3. Percent Taxable 4. Amount Subject to Tax 4 5. Debts and Deductions 5 6 6. Amount Taxable X tYl's i~ '~ tf r~r,7,~ 7 7. Tax Rate 7 K ~~_ 8. Tax Due = DEBTS AND DEDUCTIONS CLAIMED PART neT~ Dorn PAYEE DESCRIPTION AMOUNT PAID Under penalties of perjury, I declare that the facts I reported above are true, correct and code. e tof the best /off my knowledge and belief. HOME C ~~ 7 ~ .S~S ~- ~ ~~~ 4vV'~i~ / G'C ~l ~ W O R K C ~ v~ TAXPAYER SIGNATURE v - TELEPHONE NUMBER DA E IUINL 1G111C1 ull ~i~~c + ~ - -- - -- ~~ ~ r- r „ . , -„-. r BUREAU hF _INDIVIDUAL TAXES_ U. PD BOX ~as6D:1 ~ -~ ~~ ' ~1 ! (~ Pennsylvania HARRISBURG`PA~ 17128-060,1! j_~j DEPARTMENT OF REVENUE REY-1543 EX AFP f05-il) PENNSYLVANIA INHERITANCE TAX INFORMATION NOTICE AND -TAX,.PAYER RESPONSE / `\ j'~ ~~ FILE N0. 21 11-0847 ACN 11159772 DATE 09-05-2011 w- -~`l , ~ y ~ r. ~ ~~~ _ ~ ~' ~~'~ '"~ ~ ~' "~ '1 `'EST. OF BERNICE M PREDMORE ~1 ~,~{~{ i^,~ ~„ SSN 193-36-2573 C{~~ !,^`~, ~ ;,,w,~~ _ f `~a - -'DATE OF DEATH 07-24-2011 (~j),tC,~~ ~~r~q ~~ ~+_~ • '- ~` ~.' COUNTY CUMBERLAND - ~~~~. (-l-~. ~ REMIT PAYMENT AND FORMS T0: JUDITH A SOMERICK REGISTER OF WILLS 3323 SYLVAN DR 1 COURTHOUSE SQUARE THORNDALE PA 19372-1217 CARLISLE PA 17013 TYPE OF ACCOUNT SAVINGS ® CHECKING TRUST CERTIF. P N C BANK N A provided the department with the information below, which was used in calculating the inheritance tax due. Records indicate that at the death of the above named decedent, you were a joint ownerlbeneficiary of this account. If you are the spouse of the deceased and any amount other than zero 1s reflected below on the Potential Tax Due line, note no tax may be due, but you must notify the department of your relationship to the deceased by checking Box C in PART 1 below and writing "spouse" in PART 2. it touthelabove addressrm~Pleasescallo717~787p8327ewithaquestionsn correction from the financial institution, attach a copy to this form and return COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 5140050483 Date 02-16-2007 To ensure proper credit to the account, two Established copies of this notice must accompany Dayment to the Register of Wills. Make check Account Balance $ 4,994.00 payable to "Register of Wills, Agent". Percent Taxable X 16.667 NOTE: If tax payments are Wade within three Amount Subject to Tax $ 832 • 35 months of the decedent's date of death, Tax Rate ~( • l~j deduct a 5 percent discount on the tax due. Any inheritance tax due will become delinquent Potential Tax Due yfi 124 • $5 nine months after the date of death. PART TAXPAYER RESPONSE FAILURE )TO RESPOND _WILL' RESULT IN'~AN' CIFFIC_IAL TAX ASS~ESSMEN.T ... .- .,,x.., .. , ~- ~ _ +.. ~ ~ a .~,. . A. ~ The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain a discount or avoid interest, or return this notice to the Register of Wills and C H E C K an official assessment will be issued by the PA Department of Revenue. C ONE B L 0 C K B. The above asset has been or will be reported and tax paid with the Pennsylvania inheritance tax return 0 N L Y filed by the estate representative. C. ~ The above informs ion is incorrect and/or debts and deductions were paid. Complete PART ~2 and/or PART ~ below. PART If indicating a different tax rate, please state ~ ~ .~.OFF~ICI L' i)S~,z>,~~:ONLY ;;i~ AAF y ~ Ft7~2Y' ~ 4~ . s Ste' ~ ~t.~ '. relationship to decedent: ~.; Ef'~ART E ~yy~N1JE , ~` TAX RETURN - CALCULATIDN OF TAX ON JDINT/TRUST ACCOUNTS 1P '~.'' ~~~ M_ "1 LINE 1. Date Established 1 2. Account Balance ~ 'fi " " ~~~ ~ ~. 3. Percent Taxable 3 ~ r, ,,,~ ~ ""~..,, `~ 4. Amount Subject to Tax 4 + ;~ `:a° ~ s-,,f - ~7~-~ n 5. Debts and Deductions 5 ~~ _ -~~;~ 6. Amount Taxable 6 $ ~'~~ ~~:~ ,~ ~' i. _j, f i 7. Tax Rate 7 X ` ~~~r ;~~ ,~ ~ -v3 >s$' 8. Tax Due 8 $ gµ ~c~+e: +~w~.+a~eiS"a~+t+~ ~'~.<;, DEBTS AND DEDUCTIONS CLAIMED PART DATE PAID PAYEE DESCRIPTION AMOUNT PAID TOTAL CEnter on Line 5 of Tax Computation) ~ Under penalties of perjury, I declare that the facts I reported above are true, orQrect and O csunplete to _~e~es~.Of my knawle~e and belief . HOME C ~~0 ) c~ O ~ ~ 8 DATE BU$F1~ OF„INDIVIDUAL;;T~IC y, p 2&06 hi ~. •\:~. ~~ HA I~ISBURG PA 17128~0~~~~ - -"-~J pennsylvania DEPARTMENT OF REVENUE REV-1543 EX AFP (95-311 PENNSYLVANIA INHERITANCE TAX - ,, '~i~~; ~\~;'/ INFORMATION NOTICE FILE=b~.~~'~~i1J-OS471J AND ACN 11159774 TAXPAYER RESPONSE DATE 09-05-2011 ~~ ~ .5 ~-'•~ ~` `- ~E.r, ^~ ~'~ '~• 's~ EST. OF BERNICE M PREDMORE SSN 193-36-2573 C~G~i i~~~ DATE OF DEATH 07-24-2011 rw i ~_»'I~'~7 :.''t~~.~:.a~ Rf.~ i `~~ COUNTY CUMBERLAND OAP'-~ ,~ r.,- p~ G~'`y~~.` _,, ,y, REMIT PAYMENT AND FORMS T0: JUDITH ~ A SOMERICK ~ REGISTER OF WILLS 3323 SYLVAN DR 1 COURTHOUSE SQUARE THORNDALE PA 19372-1217 CARLISLE PA 17013 TYPE OF ACCOUNT © SAVINGS CHECKING TRUST CERTIF. PN C BANK N A provided the department with the information below. which was used in calculating the inheritance tax due. Records indicate that at the death of the above-named decedent, you were a joint owner/beneficiary of this account. If you are the spouse of the deceased and any amount other than zero is reflected below on the Potential Tax Due line. note no tax may be due, but you must notify the department of your relationship to the deceased by checking Box C in PART 1 below and writing "spouse" in PART 2. COMPLETE PART 1 BELOW~~* SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIO Tf vnu hPT,PVP hP ,nf^~^~~*'^^ ' Account No. 5005034296 Date 03-30-2007 To ensure proper credit to the account, two copies of this notice must accompany Established payment to the Register of Wills. Make check $ 12,659.00 payable to "Register of Wills, Agent". Account Balance 16.667 Percent Taxable X NOTE: If tax payments are made within three Amount Subject to Tax $ 2 ~ 109 • 88 months of the decedent's date of death, • 1 5 deduct a 5 percent discount on the tax due. Tax Rate X Anv inheritance tax due will become delinquent $ 316.4$ nine months after the date of death. Potential Tax Due TAXPAYER RESPONSE PART FAILURE TO RESPON- WILL RESULT IN AN_OFFICIAL TAX ASSESSMENT CHECK ONE C BLOCK ONLY A, ^ The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain a discount or avoid interest, or return this notice to the Register of Wills and y an official assessment will be issued by the PA Department of Revenue. g, ~y~ The above asset has been or will be reported and tax paid with the Pennsylvania inheritance tax return ~''+ filed by the estate representative. C. The above informs ion is incorrect and/or debts and deductions were paid. Complete PART ~2 and/or PART ~ below. PART If indicating a different tax rate, Please state relationship to decedent: TAX RETURN - CALCULATION LINE 1. Date Established 2. Acc~ur.t Balance 3. Percent Taxable 4. Amount Subject to Tax 5. Debts and Deductions 6. Amount Taxable 7. Tax Rate OF TAX ON JOINT/TRUST ACCOUNTS 1 2 3 X 4 5 6 '~ 7 X 8 PART DESCRIPTION AMOUNT PAID s TOTAL CEnter on Line 5 of Tax Computation) Under penalties of perjury, I declare that the facts I repot HOME ovC lo~~t) e ~ Qr ~t andX ~ ~ , ._~_ ~,. +tie host of mY knowledge and belief. ~iI Q / ~17 DEBTS AND DEDUCTIONS CLAIMEu ~~~~'° PENNSYLVANIA INHERITANCE TAX FILE N0. 21 11-0847 '~ INFORMATION NOTICE BUREAU OF INDIVIDUAL TAXES f '", ~ - ~ ;'..~. AND ACN 11159773 Po eox 2BO6o1 ~}@1111S~/LVat'I~~d_ _ DATE 09-05-2011 HARRISBURG PA 17128-0601 DEPARTMENT OFREVENU~,r - TAX~i'c~~1(ER RESPONSE REV-153 EX AFP (OS-11) ` '' `' _ _ _ i~ i ` 1 (~T~~'~ COUNT C~ ERr; CF ~ ~f ~s~`1`~i r~n~ ~~~ CL - . ."V V F ~~ST. OF BERNICE M PREI)T1URE lJ L^ SAVINGS SSN 193-36-2573 © CHECKING DATE OF DEATH 07-24-2011 ^ TRUST COUNTY CUMBERLAND ^ CERTIF. ~~ REMIT PAYMENT AND FORMS T0: REGISTER OF WILLS MARTHA P MACADAM 1 COURTHOUSE SQUARE 1 TEPEE CIR CARLISLE PA 17013 CONESTOGA PA 17516-9510 PN C B A NK NA provided the department with the information below. which was used in calculating the inheritance tax due. Records indicate that at the death of the above-named decedent, you were a joint owner/beneficiary of this account. If yoU are the spoUSe of the deceased and apny amount other than zero is reflected below on the Potential Tax Due line, note no tax may be due, but you mus notify the de artment of your relationship to the deceased by checking Box C in PART 1 below and writing "spouse" in PART 2. If you believe the information is incorrect. please obtain written correction from the financial institution, attach a copy to this form and return it to the above address. ?lease call 717-7R7-B.i27 with questions. COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 5140050483 Date 02-16-2007 To ensure proper credit to the account, two copies of this notice must accompany Established payment to the Register of Wills. Make check Account Balance ~` 4,994.00 payable to "Register of Wills, Agent". X 1 6 .6 6 7 NOTE: If tax payments are made within three Percent Taxable Amount Subject to Tax $` 832 • 35 months of the decedent's date of death. X . D 4 5 deduct a 5 percent discount on the tax due. Tax Rate Arty inheritance tax due will become delinquent Potential Tax Due ~` 37.46 nine months after the date of death. Pa^RT TAXPAYER RESPONSE ~ FAILURE. TO`~`RESPOND WILL RESULT SWAN ~OFFLCIAL~-TAX, ASSESSMENT A. ^ The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain a discount or avoid interest, or return this notice to the Register of Wills and C H E C K an official assessment will be issued by the PA Department of Revenue. B L 0 C K B. The above asset has been or will be reported and tax paid with the Pennsylvania inheritance tax return C ONE 0 N L Y filed by the estate revresentative. C. ^ The above informs ion is incorrect and/or debts and deductions were paid. Complete PART ~ and/or PART ~ below. ' O~FICIAL~i1SE, flNLY~k ^ AAF PART If indicating a different tax rate, please state ~ ~ &k~.«- ~~ ~ ~'4~ ~ ~~ ~} ~~ ~) t' ;. relationship to deCedertt: x ~"aYPA :DES RTM •NT~ ~?~ RFY'ET]UE rww, irtk,FlutM° <Y7 .~-~r a4'~a-t '#dt~aX'~S~~'~ TAX RETURN - CALCULATION LINE 1. Date Established 2. Account Balance 3. Percent Taxable 4. Amount Subject to Tax 5. Debts and Deductions 6. Amount Taxable 7. Tax Rate 8. Tax Due PART DATE PAID OF TAX ON JOINT/TRUST ACCOUNTS PADr~~ ,~ '~`" ""' ~ ~;,~~~~,~,- ~~~,,~ Y ~ " ~ . ~ ~ W { ~ I . yj~f ~.'1 i L.i ~`hlY ._/ 'y 4Yi^.. [ ~A- >~~ +`^+~~% ~ ~ ~ . w ..C . +%" I. , t(t 3.S C . i 3'i ~• ' J j 5 _ t ~ ` r .~..~{)nF ~'~J~~ `41'Ct.~~ ~~3' .r'~~2i~ "``.S~ nit ~.a ~ ~ { '` +~ 3 # - 7 X ~ i~. +t 'Vi'i;; ,, ~'`4%.'' at.., na,[^»r;~4.'k `'~ i '~ " $ . z 8r 8 DEBTS AND DEDUCTIONS CLAIMED PAYEE DESCRIPTION AMOUNT PAID -_ $ TOTAL (Enter on Line 5 of Tax Computation) Under penalties of perjury, I declare that the facts I reported above are t ~ e, correct and complete to the best of my knowledge and belief. HOME C ~t/ WORK C ~ TELEPHONE NUMBER DATE TAXPAYER SIGNATURE BUREAU OF INDIVIDUAL TAXES PD BOX 280601 HARRISBURG PA 17128-D601 f DEPARTMENT OF RE1 REY-1543 Ex AFP < PENNSYLVANIA INHERITANCE T INFORMATION NOTICE AND ' _ ' F;Q~p_C~YER RESPONSE - n _ _ ~.~ j~:.F' ~~1 ~ EST. OF BERNICE M PREDMORE o ~ ~ r~}a `~'~ SSN 193-36-2573 CLE°~ ,~^ DATE OF DEATH D7-24-2011 '"'~~ COUNTY CUMBERLAND ORPN~~~J',~ '~~71~!R C~ t+, Ar'}r~-„ ,,, ,_'~" r REMIT PAYMENT AND FORMS T0: MARTHA P MACADAM FA REGISTER OF WILLS 1 TEPEE CIR 1 COURTHOUSE SQUARE CONESTOGA PA 17516-9510 CARLISLE PA 17013 ACCCfUNT SAVINGS CHECKING TRUST CERTIF. PN C B ANK NA provided the department with the information below, which was used in calculating the inheritance tax due. Records indicate that at the death of the above named decedent, you were a joint owner/beneficiary of this account. If yoU are the spouse of the deceased and any amount other than zero is reflected below on the Potential Tax Due line, note no tax may be due, but you must notify the department of your relationship to the deceased by checking Box C in PART 1 below and writing "spouse" in PART 2. If you believe the information is incorrect, please obtain written correction from the financial institution, attach a copy to this form and return it to the above address. Please call 717-787-8327 with questions. COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 5005034296 Date 03-30-2007 To ensure proper credit to the account, two Established copies of this notice oust accompany payment to the Register of Wills. Make check Account Balance $ 12, 659.00 payable to "Register of Wills, Agent". Percent Taxable )( 16.667 NOTE: If tax payments are made within three Amount Subject to Tax $ 2, 109 • 88 months of the decedent's date of death, X . 0 4 5 deduct a 5 percent discount on the tax due. TaX Rate Any inheritance tax due will become delinquent Potential Tax Due $ 94.94 nine months after the date of death. PART TAXPAYER RESPONSE FAILURE;Td RESPOND.. WILL,; RESULT ;IN':'AN OFFICIAL TAX~ASSESSMENT A. ~ The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain a discount or avoid interest, or return this notice to the Register of Wills and CHECK an official assessment will be issued by the PA Department of Revenue. C ONE B L 0 C K B. The above asset has been or will be reported and tax paid with the Pennsylvania inheritance tax return O N L Y filed by the estate representative. C. ~ The above informs ion is incorrect and/or debts and deductions were paid. Complete PART ~ and/or PART ~ below. PART If indicating a different tax rate, please state w i1t~.~: OFy~IC~~AL:, US~E'~~h~LY ~ AAF- 2 relationship to decedent: ~ ~~ }` P,A~,D~PA3Z71'ifiNT 0 13EVENUE ? " 1~'rr ~ _.,_ _ ..~ ,..~IY.t' .. TAX RETURN - CALCULATION OF TAX ON JOINT/TRUST ACCOUNTS PADS li- LINE 1. Date Established 1 f~i i.`~ ~ .~ 2 $ ~" 2.- 2. ACCOUnt $alanCE 3. Percent Taxable 3. ~ t ~t t to Tax b 4 $ 3. -?~ ;:~' 4. jec Amount Su ~ 5 Debts and Deductions 5 ~~ . bl 6 $ ~ ~ ~ : 6. e Amount Taxa ~ . T X ~` ~ ~` 7. Tax Rate ` ~ 8 $ , $; x" ~~' 8. Tax Due . DEBTS AND DEDUCTIONS CLAIMED PART _ _ _ _ . .. ~.., onvG C DESCRIPTION v~ r~r" s.~_. ~ b`, . ~ ~ ~'s; mfr ~~ ~ ; r, 4~,;F.~ -Y ~. ~. ''~"' - - AMOUNT PAID Under penalties of perjury, I declare that the facts I reported above are true, correct and comple/~te to the best of my knowledge and belief. HOME C ) ~~~~Z~~ WORK C ) TELEPHONE NUMBER FILE NO. 21 11-0847 ACN X~1--1159775 DA~ (,'~'~O~pll% DATE PAYER SIG Roland Johnson Appraisal Services 0007072 File No 1709sherwood APPRAISAL OF A SINGLE FAMILY RESIDENCE LOCATED AT: 1709 Sherwood Rd. New Cumberland, PA 17070 FOR. CIO Executrix, Martha MacAdam BORROWER: NA AS OF: January 25, 2012 BY: Roland D. Johnson, SRA RL-001737-L 6620 Somerset Street. Harrisburg, PA 17111 (717) 561-4864 Roland Johnson Appraisal Services 0007072 rIIC N0 01 /3 01201 2 L CIO Executrix, Martha MacAdam File Number 1709sherwood Dear Martha MacAdam: In accordance with your request, I have appraised the real property at 1709 Sherwood Rd. New Cumberland, PA 17070 The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved. The property rights appraised are the (ee simple interest in the site and improvements In my opinion. the market value of the properly as of January 25, 2012 is. $142,000 One Hundred Forty-Two Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions. final opinion of value, descriptive photographs, limiting conditions and appropriate certifications Respectfully. Roland D. J on, SRA RL-001737-L State Certified Appraiser 6620 Somerset Street, Harrisburg, PA 17111 (717) 561-4884 APPRAISER'S LICENSE ~~a Borrower: NA Pro ert Address: 17 09 Sherwood Rd. Clty New Cumberland State: PA Case No. 0007072 Zlp: 17070 Lender. _. _ _ l~lYTi~v.~~-'.'.:!*~GG:~]1.1~1 ~1.._+ww'i~irmm-~[r ri 7-.l'~~-1Lw ~~ ~ • ~ l ~ ,~, CC..`_ ~ j R~' ~ d._."4.T ~~{~'l~``t :, ~ ~ i . ~, . - _ rn .~, Y~ ~ ~ 'x, ~ ~ ! . ~ «~ ~ ~ ~ /yIa' ~ E r C * N ~y~•~ ,b i i ~7 L r"' f~ p'~R 'L~ ~..:. 1 .. 1kMM ~ t - ~ ~ f_,~q,~~ I T, L „_T - - Cs ( Tf ^"1 ~a YJ ~ - i • ~ _ _ ~ U _, _ ~ t'~~ ~ ,r ,. _ `-- -+" ~ .i. W ;p•, ~ ~ ~~^^ R •3 ,fin 9 ~ ~ `~ sr. •- ..~.~ ~ a® ~ ~~ ~ - `5w f 1~1 '~ ~r~ ti ~ ~,y~ l~ ~ 1 "' ~ ~ r ~ K ~ ~ Syr ~j ~': ' t. • 4~ 1.~+ ~' TIL ~ ~ _ .1 hrf W ... ~ ~ _ ~~} WL `h{Il Y ~~ s, ~, L, ~f ~ i e • i~• ~: k k ~ ' ~ ~~ ~y ~~ {4 ~~ rv~.v ~ t=" •r ~, ,,,,, ~ ~''~, ~ •:-1 ' r~ ' ~ `~ '~ s ~ T~ t Ewa 1 ~ ., w J C~ ~ ~ ,rC ~ i 1 ~; N' ~ ~ +- `~ ~ °" .-~ . ~, ~ ~~ ~"f ~ ~ ~ ~ - ~, ( 1 I ~~ {~-.~.a~ ~ ~, ? ,~i. ~Y~•,?~ ,-~ai°. C i° 1 ~ { +. "4 ~, ~ ~.~ } .!3 i.:".' y_~~•~..i..-' °s t~'r1 ~ ~,~ 5~~ ~Pw- ~r ~-r ~ ii 6620 Somerset Street, Harrisburg, PA 17111 (717) 561-4884 FannieMae SINGLE FAMILY 0007072 Desktop Underwriter Duantitative Analysis Appraisal Report Flle No' 1709sherwood r nr_r nnionirG T17ANGAf TION ONLY. THIS SUMMARY APPRAISAL REPORT IS INTENDED FuK uat tsx ~ nr "'~ CitR New Cumberland Stale PA Zi Codc 17070 Pro crl Address 1709 Sherwood Rd. Count Cumberland Lc al Dcsrri lion DEED BOOK 125 PAGE 19 Tax Year 2011 R E Taxes E 1934.00 S ial Assessments S N/A Assessor's Parcel No 26-23-0543-225 Cunen10wner Estate of Bernice Predmore Occu ant, Owner Tenant X Vacant Borrower NA Nei hborhood or Prdect Name Borou h of New Cumberland Prdecl T e PUD Condominium HOAX NIA IMo Dale or Sale NA Descri llonlE amount of loan char eslconcessions lobe aid b seller NA Sales Price 5 NA Pro err ri hts a raised X Fee Sim le leasehold Ma Reference 2848-4F Census Tract 107 Note. Race and the racier com osition of the nei hborhood ore not a praisal factors valucs Inrrcasing X Slablc Dcrlining crl l Prn R glEfamilyhrrAGEg PiR PrrCrrr~xfrhtr rTG'JE y p ura Location Urban X Suhurban ly ^ Shortage ^X In balance ^Oversupply 25'% Demandlsup d ' ^ I 8(000) (yrs) A E(000) furs) p er Un % Built up ^X Over 15'% ^ 25-75 Under 3 mos X 3-6 mos Over 6 mos i 100 Low 0 NA Low NA me Growth rate Ra id X Stable Slow Markelin t Hi h NA hborhood boundaries The sublect's neighborhood is bound to the North by Carol St. to the West by Nei 400 Hi h 130 NA i t P d g Rout 83 to the South b 16th St., and to the East b Brid a St. Predominanl 60 nan re om NA NA 140 Silc area .16 ac Shape Irregular Dimensions As Per Tax Assessment Records 'if~ratinn and dcsrriplinn R-1 Residence I Sin le-Famil Dwellin s Permitted d i i ass r. zon ng Spcrif e ^X Legal ^ Legal nonconforming (Grandfathered use) ^ Illegal, attach description ^ No toning li n i c ng comp a Zon Hi hest and best use of suti eel ro err as im oved nr as ro osed er tans and s ecificalions X Present use Other use. attach descri lion Utilities Publi[ Other Public Other Off-sttelmprovements Type Puhpc Private lt ~ ^ h a Electricity ^X 100 Amp Water ^X SVeet Asp Gas X Sanita sewer X Alle None l adverse site conditions easements, encroachments, s clot assessments, slide areas, etc ? Yes X No If Yes, attach descri lion Arc Ihac an a en Snurre(s) used la physical rharacterisllrs nt property X Interior and exterior inspection Exterior inspection from street Previous appraisal Nes MLS X Assessment and tax records Prior Ins eclion Pro ert owner X Other Describe Famil Member X N Y o es of Stories 1 T e Del /Alt. Detached Exterior Walls Vin I Roof Surface Shin le Manufactured Housin No . Does the ro err enerell conform to the nei hborhood in terms of st le, condillon. end conslruchon materiels' X Yes No I( No. al!ach descri lion Are there any apparent physical deficiencies or conditions That would affect the soundness or sVuclural integrity of the improvements or the livability of the property? Yes X No if Yes, attach descri tlon tonic substances, etc) present In the improvements, on the site, or In the immediate vidnity of tal conditions (hazardous wastes i , ronmen Are (here any apparent adverse env the su6ecl rn crl ? Yes X No I! Yes, attach descri lion. I researched the subject marker area for comparable listings and sales that are the most similar and proximate to the subject property MY research revealed a total d 8 sales ranging in sales price rrom E 125,00010 E 155,000 My research revealed a total d 5 listings ranging in list price from E 125 000 Io E 155,000 ' ed ro ert The anal sis of the com arable sales below reflects market reaction to si nificanl variations between the sales and the sub FEATURE SUBJECT SALE1 SALE2 SALES 1709 Sherwood Rd. 1717 Sherwood Rd. 1713 Locust St. 901 16th St. Address New Cumberland New Cumberland New Cumberland New Cumberland Proximit to Sub'ecl 0.05 miles NNW 0.06 miles NE 0.14 miles ESE 900 E 139 , Sales Price E NA E 142 500 E 142 000 49 m S 134.52 m 145 . Pdce/Gross Liv Area E 0.00 lp E 137.95 m S MLS & Tax Records MLS 8 Tax Records MLS & Tax Records Data & Vern Sources VAWEADJUSTMENT DESCRIPTION DESCRIPTION ,r~)snqusm.~* DESCRIPTION ~tdsnrynim.,x DESCRIPTION ,4)skruvnwn Sales or Financing FHA Yes DOM 28 -7 968 Conventional No DOM 3 FHA Yes DOM 9 -4 097 Cnnresslnns Dale of Sale/Time NA 0412812011 10/31/2011 O6I73/2011 Location Suburban Suburban Suburban Suburban Site .16 ac .15 ac .14 ac .18 ac View Avera a Avera a Avera a Avera e Desl n 51 le Ranch Ranch Ranch Ranch Actual A c Yrs 59 59 60 58 i d - Avera a Avera a Avera a Avera e on it Con Above Grade Tnlal ' B°rms ' BTihs Tninl ' Barms ' B:~Iht Total ' Barms ' Baths Tnlrl ' Barms ' Bn,hs ~ ~ Room Count 5 ~ 3 ~ 1.00 6 ~ 3 ~ 1.00 ~ 5 ~ 3 ~ 1.00 ~ 1.00 3 5 0 1 033 S FI; 0 976 S Ft; 0 1 040 Sq Ft; Gross L' Prey 1,033 S Ft Basement andFirrshed Full Basement Full Basement Full Basement Full Basement Rooms Below Grade FR BR Bath Unfinished 10 000 FR PR 3 000 FR Bath 3 000 Gara c/Car ort 1-Car Car ort 1-Car Ca ort 1-Car Car ort 1-Car Gara a -1 000 HeaUCool Gas FA/CA Gas FAICA Gas FA/CA Oil FA/CA Porch Deck etc Porch Porch Patio -2 000 Deck Porch ' E 2 097 X Nel Ad total X ~ - ' E 32 X ~ ' E 3 000 - a - Adjusted Sales Price Gross 14.0% 142 532 Gross: 2.1 % 1% S 145 000 NeI 2 Gross 5.8% Nel -1.5% E 137,803 of Com ambles Nel 0.0% E . Dale of Prior Sales 07/12!1995 O6I28/2005 10/1412003 Price of Priot Sales S 1 E 122 900 S 110 000 E of the subjcrt property and analysis nt the prior sales nl subjerl and rnrnparables Accordin to records lin i li g on, or s Analysis nr any current agreement nl sale. opt rovided b Count Tax Assessment Office the sub'ect ro ert has not transferred in the ast 3 ears. Summary of sales comparison and value conclusion. See Addendum This appraisal is made X 'as-is'. or subject to completion per plans and specirications on the basis of a hypolheUcal condition That the improvements have been completed, or subecl to the rollowin re aus, alleralions or conditions BASED ON AN EXTERIORINSPE CTION FROM THE STRE ET OR AN X INTERIOR ANDEXTERIORINSPECTION.(ESTIMATE THE MARKET VALUE AS DEFINED C)F THE REAL PROPERTY TIfAT15 THE SUBJECT OF THIS RFPQRT TO BEX 142,000 AS OF 01/25/2012 PAGE 1 Of 3 Fannie Mae Fnrm 2055 9-96 SINGLE FAMILY 0007072 a:a~a:..w Awalvcin A~nrr~IsAl RE±leort ruA N~ 1709sherwood DesKtop ~rnaerwn~cr vwawarraa+a^....+••~.v---'-rr------ -- Project Information ror PUDs (if applicable)--Is the developer/builder in control of the Home Owners' Association (HOA)X Yes Nn Provide the following inlormalion loi PUDs only if the. developerNuilder is in conlrol of the HOA and the xibjecl properly is an allarhed dwelling unit Tntat number nl phases Tn1al number of units Tnlal number of units sold Total number of units rened Total number of units for sale Data Source(s) Was the project created by the r.onversion nr existing buildings into a PUD~ ^ Yes No If yes. stale date of conversion • Does the project contain any moth-dwelling units? ^ Yes ^ No Dale Source Are the common elements tompleled' ^ Yes ^ No It No, describe status of completion Arc any common elements leased to or by the Home Owners' Association? Yes No If yes, attach addendum describing rental Terms and options Describe rnmmon elements and recreational facilities Project Information ror Condominiums (II applicable)--IS the developerlbuilder in conlrol of the Home Owners' Association (HDA)? Ves No Provide the following inrormalion for all Condominium Projects Total number of phases Total number of units Total number of units sold Total number d units rented Total number of units for sale Data Source(s) Was the project created by lhr. conversion of existing buildings into a rondaminium~ Yes No II yes, date of conversion Project Type ^ Primary Residence ^ Second Hnme nr Recreational ^ Rnw nr Townhouse ^ Garden ^ Midrisc Highrise Condition of the project. quality of conslruclinn, unit mix. etc Are the common elements r.nmpteled' Yrs Nn II No. describe status nl completion Are any common elements Ir,ased to or 6y the Home Owners' Association' Yes No If yes. attach addendum describing rental terms and options Describe common rlemrnls and rrcreallonal lacilities PURPOSE OF APPRAISAL The purpose of this appraisal is to estimate the market value of the real property Thal is the subjecl of this report based on a quantilalive sales comparison analysis for use in the mortgage finance transaction DEFINITION OF MARKET VALUE. The most probable price which a properly should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated: (2) both parties are well informed or well advised, and each acting in what he considers his own best interest (3) a reasonable lime is allowed for exposure in the open marker (4) payment is made In terms of cash in U S dollars or In terms of financial arrangements comparable thereto and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale Adjustments to the comparables mull be made for special or creative financing or sales concessions. No adjustments are necessary •` for (hose costs 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 costs in virtually all sales Iransaclions. Special or creative financing adjustments can be made Ie the comparable property by comparisons Io financing terms offered by a third party instilulional lender that is not already involved in the property or transaction Any adjuslmenl should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjuslmenl should approximate the market's reaction to the financing or concessions based on the appraiser's judgment 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 or the Mlle to i1 The appraiser assumes Thal the title is good and marketable and. Therefore, will not render any opinions about the title The property Is `, appraised on the basis of it being under responsible ownership 2 The appraiser has provided any required sketch in the appraisal report Io show approximate dimensions of the improvements and the sketch Is included only 1o assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3 The appralser will not give testimony or appear in court because he or she made an appraisal of the properly in question, unless specific arrangements to do so have been made beforehand 4 The appraiser has noted in the appraisal report any adverse conditions (such as, but not limited lo, needed repairs. the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of ` hazardous wastes, toxic substances. etc.) that would make the property more or less valuable, and has assumed that there arc no such conditions and makes no guaTantecs or warranties, expressed or implied, regarding the condition of the properly The appralser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required 1o 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 5 The appraiser obtained the inlormalion. estimates. and opinions That were expressed in the appraisal report from sources Thal he or she considers In be reliable and believes Them to be True and correct The appraiser does not assume responsibility for the ar,curar.y of such items Thal wore 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 7 The appraiser must provide his or her prior written consent before the lenderlclient specified in the appraisal report can distribute the appraisal report (including conclusions about the properly value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or 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 stale or federally approved financial institution or any department, agency, or Instrumentality of the United Slates or any stale or the District of Columbia except that the lenderlclient may distribute the report to data collection or reporting service(s) without having Io 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 S. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal That is subject Io completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed 9 The appraiser has based his or her appraisal report and valuation conclusion for an appraisal Thal is subjecl to completion, repairs. or alterations on the assumption Thal completion of the improvements will be performed in a workmanlike manner .... ~ . ,.~ , Frannie Mae Form 1055 9! 1, ';H SINGLE FAMILY 0oo7o7z Underwriter Quantitative Analysis Appraisal Kepori File No. ~ ruysnerwuuu 'FRTIFICATION: The Appraiser certifies and agrees That: 1 I performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of the comparable sales (unless I have otherwise indicated in this report that I also inspected the interior of the subject property): (2) collecting, confirming, and analyzing data from reliable public and/or private sources; and (3) reporting the results of my inspection and analysis in this summary appraisal report I further certify Ihal I have adequate information about the physical characteristics of the subject property and the comparable sales to develop this appraisal. 2 I have researched and analyzed the comparable sales and offeringsllislings In the subject market area and have reported the da apexabls in llhelgen~eralpmarkeltarreatho develop~aabeliabrlehsaleblcompraPson analysisrforrthe subjedCl ptroperlymparable market 3 I have taken into consideration the factors Thal have an impact nn value in my development of the eslimale of market value in the appraisal report I (urlher certify Ihal I have noted any apparent or known adverse conditions in the subject improvements. on the subject site. or on any site within the immediate vlcinily of the sublecl property of which I am aware, have considered these adverse conditions in my analysis of the property value to the extent Ihal I had market evidence to support Them, and have commented about the effect of the adverse conditions nn the marketability of the subject properly I have not knowingly withheld any significant information from the appraisal report and I believe, to the bell of my knowledge, Thal all statements and information In the appraisal report are true and correct 4 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 5. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the Iransactlon I did not base, either partially or completely, my analysis and/or the eslimale of market value in the appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. b. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing rhls appraisal is contingenl on the appraised value of the property 7 I was not iequncd to report a predeterminFd valor or direction in value that favors the r.ause of the client or any related party, the amount of thr. value eslimale, the attainment of a specific result, or the or.currence o(a subsequent 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 specific valua~ion, or the need In approve a speciflr. mortgage loan 6 I estimated the market value of the real properly that is the subject of This report based on the sales comparison approach to value I (urlher certify that I considered the cost and income approaches to value, but, through mutual agreement with the client, did not develop Them. unless I have noted otherwise in This report. 9 I performed this appraisal as a limited appraisal, subject to the Departure Provision of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in the place as of the effective dale of the appraisal (unless I have otherwise indicated in this report that the appraisal is a complete appraisal, in which case. the Departure Provision does not apply). 10 I acknowledge Ihal an eslimale of a reasonable lime for exposure in the open market is a condition in the deflnilion of market value The exposure time associated with the eslimale of market value for the subject property is consistent with the marketing lime Holed in the Neighborhood section of This report. The marketing period concluded for the subject properly al the estimated market value is also consistent with the marketing time noted in the Neighborhood section 11 I personally prepared all conclusions and opinions about the real estate Thal were set forth in the appraisal report I (urlher certify that no one provided signlficanl professional assistance to me in the development of this appraisal. SUPERVISORY APPRAISER'S CERTIFICATION If a supervisory appraiser signed the appraisal report, he or she certified and agrees That, I directly supervise the appraiser who prepared the appraisal report. have examined the appraisal report for compliance with the Uniform Standards of Professional Appraisal Practice, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's cerlificalions numbered 5 through 7 above, and am taking full responsibility for the appraisal and the appraisal report APPRAISE Signature Name. Rota d D. Joh A Company Name Rola ohnson A raisal Services Company Address. 6620 Somerset Street Harrisburg PA 17111 Dale of ReportlSignature 0113012012 Stale Certification # RL-001737-L or Stale License # SIaIe: PA Expiration Date of Certification or License: 06/30/2013 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Slgnalure Name Company Name Company Address Date of ReportlSignalure Slate Certification # or Stale license # Stale Expiration Date of Certification or License ADDRESS OF PROPERTY APPRAISED. SUPERVISORY APPRAISER. 1709 Sherwood Rd. SUBJECT PROPERTY New Cumberland PA 17070 ^ Did not inspect subject properly ^ Did inspect exterior of subject properly from slreel APPRAISED VALUE OF THE SUBJECT PROPERTY S 142 000 ~ Did inspect interior and exterior of subject property EFFECTIVE DATE OF APPRAISAL/INSPECTION 01/25/2012 COMPARABLE SALES Did not inspect exterior of comparable sales from slreel LENDERICLIENT Q Did inspect exterior of comparable sales from slreel Name Company Name. Company Address. r~~„~o nn.o t,,,m ~n~s q.ae 10CH ~'""` ' "' r•~mww ~~~a no .mw:~~ w~~n zu s. n N.~;,,Mw ~.M~~ Roland Johnson Appraisal Services ennl=Nnl Inn File No.: 1709sherwood Borrower: NA Pro a Address: 1709 Sherwood Rd. Case No.: 0007072 C New Cumberland State' PA _ Zip' 17070 Lender: Summary of Market Data After a thorough search of all available market data, the three sales used are the best indicators of value. In order to f nd comparable sales it was necessary to use less recent sales. Appropriate adjustments have been made for all differences. All three comparable sales are located in the same neighborhood as the subject and would be considered by the same prospective purchaser if all were on the market at the same time as the subject. This appraisal report has been prepared with the property in "as is" condition. No personal property has been included in this valuation. This appraisal assumes a reasonable marketing period for the subject property of two months. The Sales Comparison Approach reflects recent activity in the market place and is given the most weight. Due to the age of the subject property, the Cost Approach is not considered an indicator of value in this report. THIS IS A SUMMARY APPRAISAL REPORT. THE INTENDED USE OF THIS REPORT IS TO ESTIMATE VALUE FOR ESTATE TAX PURPOSES ONLY. THIS APPRAISAL IS NOT INTENDED FOR ANY OTHER USE. FLOOD INFO: 420366 0001 B ZONE C 0 211 6/1 9 7 7 Borrower NA File No 1709sherwood Pro crt Address 1709 Sherwood Rd. Cit New Cumberland __ count Cumberland State PA Zi Cndc 17070 Lentler n nnnnic ni nnin oGPnl~T Ir1FNTIFI('ATI(~N This Appraisal Report is one of the following types. ^ Self Contained ^X Summary ^ Restricted Use (A written report prepared under Standards Rule 2-2(a), pursuant to the Scope of Work, as disclosed elsewhere in This reporlJ (A written report prepared under Standards Rule 2-2(b), pursuant to the Scope of Work, as disclosed elsewhere in This report.) (A written report prepared under Standards Rule 2-2(c), pursuant to the Scope of Work, as disclosed elsewhere in this report, restricted to the staled 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 assumpllons and limiting condllions. and are my personal. impartial, and unbiased professional analyses. opinions and conclusions • I have no (or the specified) present or prosperlive interest in the property that Is the subject of This repnd, and no (nr the specified) personal interest with respect In the parties involved • I have no hias with respect to the property Ihal is the subject of This report or the parties involved with This assignment • My engagement in this assignment was not conlingenf upon developing or reporting predetermined results. • My compensation for completing This assignment is not conlingenf 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, inconformity 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. • 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 properly appraisal assistance is staled elsewhere in this report.) Comments on Appraisal and Report Identification Note any USPAP related issues requiring disclosure and any State mandated requirements APPRAI Signature ~„Q,[ Name Rola d D. Joh A Dale Signed 01/30/201. Stale Cerliricalion ~' RL-001737-L or Stale License q. Slate PA Ezplralion Date of Certification or License 06/30/2011 Effective Date of Appraisal January 25 2012 SUPERVISORY APPRAISER (only ifrequired) Sinnalwr Name Datr; Signed Slalc Certification q or Stale Llcense y Stale Ezpirallon Dale of Certillcation a License Supervisory Appraiser insperlinn of Subjerl Property ^ Did Nol ^ Extenor-only from street ?IxAx rJ ~Fln~) Afl c•IIMx~~. NIK11',< N]!] www it rvv1~ ~ n•~ ^ Interior and Exterior USP~P~J(i,N~/WN, DIMENSION LIST ADDENDUM NA 1707 GROSS BUILDING AREA (GBA) 2,066 GROSS LIVING AREA (GLA) 1,033 Area(s) Area %ofGLA %otGBA in Li 1033 50.00 g v el t L 1,033 100.00 50.00 ev l 2 L eve el 3 L ev Other GBA men) ^X B 1,033 50.00 ase e G a ar g D Area Measurements Area Type Mensur~ments Factor Total Level t Level2 Level3 Other Bsmt Garage 00 x 25.0 37 z 1 - 925.00 ^X ^ ^ ^ ~ ^ . 18 0 x ~~ x 1 108.00 O . _ x _ ^ ^ ^ ^ ^ x -- x x x _ x x x x x x - ^ ^ ^ ^ ^ ^ x _- x % x % x _ ^ O ^ ^ ^ ^ x _ x _ X _- x - --- % x - ^ ^ ^ ^ ^ ^ x x x % x x O O ^ ^ O ^ x x _ % x _ x x x x z x _ x x _ O O O x % = O D O % _ x - x % - O O x x O D O O _ x x _ x _- N % -- x ^ ^ ^ ^ ^ ^ x - x _ x x - % x " x % _ X % _ ^ ^ ^ ^ ^ ^ -_ x % x x x x _- x % z ^ ^ ^ ^ ^ ^ x x x - x ° ° ° 0 0 ° x x .: ^ a 0 ^ x x - x % - x x _ % i+nxm.n..w., n ~ ,m~.,= wx a xm ,ww MMd,. •~,,o LOCATION MAP Borrower: NA ~ ~" ` ~ ~v`~~ Pf0 ert Address: 1709 Sherwood Rd. Case No.: 0007072 City New Cumberland State' PA Zip: 1.7070 _ _ Lender. _ _ _ - s`, V ~~ 581 , ~ 41S ~ C?a c> ;,i~ d',. ,7~ L~ 9 ~ ~ tt`,~ s ,, 41A ~~, ~~'~ ~w ~`~ y p ~~y~ ~~~ `~,~~ ?y Q ti~~\~ ~~ ~ ~~ ~j ~O S ~ 1h ~ 41E ~ O Comparable Sale 1 1717 Sherwood Rd Comparable Sale 2 New Cumberland, PA 17070 1713 Locust St ~~ (0.05 miles NNW) ,~^ New Cumberland, PA 17070 ` 1 (0.06 miles NE) a~ ~w . 3 ~ `` c~ ' ,~'' r~ ~ ti t / ~ ,t ~-- t J f~,/~ $r`~f7Qt rid `p`r~ h '~t ~ cat t_~ 'V~orr,~a;, ' , a ~ 6~ V`~ C~M ~~ ~~ ~ ~~ ;, n ~~~ rEr Ra ,a~G ~4 :fJB 4~ ~ ~~5 r 1 ~ ., c f ~ o ti /~ ~ r j o ~d^~ .~1, , ~` 1y Subject 6 ~i ~ 1709 Sherwood Rd ~ `~ ~' j New Cumberland, PA 17070. J ~ () 1 Sirnpsan Ferry R.d ~ / ~ nt ~ S~dartl,more. RG ° Sn'~r Comparable Sale 3 ~~~ ~,~ 901 16TH St `~ New Cumberland, PA 17D7D ~~~~1 t ~ `~ - ipls S~+rq ~~k~:aVe~ Ri ~ (0.14 miles ESE) ' 0~ ~ ~ ,~ m v L,~ art? ~~~Tl ~'l` ~ G ~ k A ' ire !,~_ n r P:sr ~: to d~ , ~ ` F ~ A p ~r, ~~^A Dr ' ~ tJV rs -I' s U i ~ s~ ~~ ~~ %` iry , ~.. r~ c 1x 0.34 mile _. 6620 Somerset Street, Harrisburg, PA 17111 (717) 561-4884 nnRPLANSKETCH (,nr nrv ou nTn AnnFNnl IAA Borrower: NA J V /~ ` File No.: 17ossherwood Pro ert Address 1709 Sherwood Rd. Case No.: 0007072 City New Cumberland State. PA Zip: 17070 Lender: -, ~* , .y!` ., , ' ~.`' ~ ~1 ti. ~' f~- I ,i `~s.«~ FRONT VIEW OF SUBJECT PROPERTY Appraised Dale: January 25, 2012 Appraised Value: ~ 1a2,ooo REAR VIEW OF SUBJECT PROPERTY STREET SCENE c~ ~Q rcrT oanaFaTV onDITIONAL PHOTO ADDENDUM Borrower: NA File No.: 17o9sherwood Pro ert Address:17o9 Sherwood Rd. Case No :0007072 _Cii J New Cumberland Slate PA Zip' 17070 Liinder FRONT I SIDE VIEW r - - ~~ - t;` ~ ~~ . i ~ ..~ ----- -- ~~ ~ ~~ ~ . it ... ~, ' ~. ~ ~~ ",, ~' ~~ aw_ ~ ~~_. - )- ~ -: rti ": ,; u ~,,,, ~.... ~ r `'tt~ '~ ~_ .'.. _ =;~ ~~ - REAR 1 SIDE VIEW STREET VIEW +iv4v~xl'iawrJ A~:1 v~~~twa~r NIM~1]<N)I)www fr~w~M1~~~n rnnnnn on of roDnPr=Rrv Pl-InTll Af)I~FN(~t1M Borrower: NA File No. 17o9sherwood Pro ert Address. 1709 Sherwood Rd. Case No .0007072 Cily New Cumberland Slate PA Zlp 17070 Lender. COMPARABLE SALE ~/1 '~ _ ~~ _ _ r ~~~ . ~ J ~~ w= ~~' ~. ? ' ~a ~, `. ~ :" .~. ,~. ~ii~ ~ _. a ,~ + ~=: x c "tr! ~4~3"C'` `~v :y u' x ~t ,y.'.ia ... c~,,~ .W.r s~ ~ ~ k ~'~'~~~''r ~ f r .w a, ~ _ ~' 3~t~l ~ i_ AURA rNY. - - %f ~~ ` yi' .-J' ~ i ~± ti _~ ~' "s"< z 1' _ .~ ~ `~~~ ~~ ~?: ~.. 1717 Sherwood Rd. New Cumberland Sale Date. 04/2612011 Sale Price $ 142,500 COMPARABI_F SALE rig 1713 Locust St. New Cumberland Sale Date' 10131/2011 Sale Price. $ 142,000 COMPARABLE SALE ~t3 901 16th St. New Cumberland Sale Dale 06/13/2011 Sale Price. $ 139,900