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HomeMy WebLinkAbout06-22-12 1505610140 REV-1500 EX (01-10) PA Department of Revenue Bureau of Individual Taxes County Code Year File Number PO Box 280601 INHERITANCE TAX RETURN Harrisburg, PA 17128-0601 RESIDENT DECEDENT 2 1 1 1 1 0 6 7 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY 1 8 1 1 6 6 9 8 1 0 9 2 5 2 0 1 1 1 2 1 2 1 9 2 1 Decedent's Last Name Suffix Decedent's Firs t Name MI A M I C U C C I A L B E R T p (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number FILL IN APPROPRIATE OVALS BELOW THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS 0 1. Original Return ~ 2. Supplemental Return ~ 3. Remainder Return (date of death 4. Limited Estate ~ 4a. Future Interest Compromise (date of ~ prior to 12-13-82) 5. Federal Estate Tax Return Required QX 6. Decedent Died Testate ~ death after 12-12-82) 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) 9. Litigation Proceeds Received ~ 10. Spousal Poverty Credit (date of death ~ 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. O) CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0: Name Daytime Telephone Number M U R R E L W A L T E R S I I I E S Q 7 1 7 6 9 7 4 .6 5 0 First line of address 5 4 E A S T M A I N S T R E E T Second line of address City or Post Office State M E C H A N I C S B U R G P A Correspondent's a-mail address: ZIP Code ~ ~~; REGISTER ~ LS USE VT}f..Y 'OJ -rj ~-- i't c: ~ t ny c~c° a. o~ ~ _ ~;,~ .:., coo =- - t r ~' t DATE FILED (fi 1 7 0 5 5 under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIGNATU OF~SOAYR1xSPONSIBLE FOR FILING RETURN DATA _ e I //e .O: r.v wo - FRANK A• CI 225 W• SIMPSON ST MECHANICSBURG PA 17055 SIGNATURE O P P £~H THAN REPRESENTATIVE DATE ------- 1. /( lY RREL E•~WALTERS, III, 54 E• MAID STMECHANICSBURG PLEASE USE ORIGINAL FORM ONLY Side 1 1505610140 1505610140 ~~ ~~. t u ,_ i.., ~~ n 111U 1505610240 REV-1500 EX Decedent's Social Security Number Decedent's Name: ALBERT P AMICUCCI 1 8 1 1 6 6 9 8 1 RECAPITULATION 1. Real Estate (Schedule A) ........................................... 1. 7 2 0 0 0. 0 0 2. Stocks and Bonds (Schedule B) ................................... ... 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) .. ... 3. 4. Mortgages and Notes Receivable (Schedule D) ....................... ... 4. 5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E).... ... 5. 7 7 6 3 . 5 2 6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested .... ... 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) ^ Separate Billing Requested .... ... 7. 8. Total Gross Assets (total Lines 1 through 7) ........................ ... 8. 7 9 7 6 3 , 5 2 9. Funeral Expenses and Administrative Costs (Schedule H) ................ .. 9. 4 7 8 2 . 1 9 10. Debts of Decedent, Mortgage Liabilities, and Liens (Schedule I) ........... .. 10. 1 3 9 3 1 . 2 2 11. Total Deductions (total Lines 9 and 10) ............................. .. 11. 1 8 7 1 3 . 4 1 12. Net Value of Estate (Line 8 minus Line 11) .......................... .. 12. 6 1 0 5 0 . 1 1 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) .................... .. 13. • 14. Net Value Subject to Tax (Line 12 minus Line 13) .................... .. 14. 6 1 0 5 0 . 1 1 TAX CALCULATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) x.o _ 0 0 0 15. 0. 0 0 16. Amount of Line 14 taxable at lineal rate X .045 6 1 0 5 0. 1 1 1s. 2 7 4 7. 2 5 17. Amount of Line 14 taxable at sibling rate X .12 0 0 0 17. ^ , ^ ^ 18. Amount of Line 14 taxable at collateral rate X .15 0 0 0 1 g. ^ • ^ ^ 19. TAX DUE .................................................... ..19. 2 ~ 4 ~ • 2 5 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT ^ Side 2 1505610240 1505610240 J REV-1500 EX Page 3 Decedent's Complete Address: File Number 21 11 1067 DECEDENT'S NAME ALBERT P. AMICUCCI STREET ADDRESS 17 E. PORTLAND STREET CITY STATE ZIP MECHANICSBURG PA 17055 Tax Payments and Credits: 1 Tax Due (Page 2, Line 19) (1) 2.747.25 2. Credits/Payments A. Prior Payments B. Discount Total Credits (A + g) (2) 0.00 3. Interest 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. (3) Fill in oval on Page 2, Line 20 to request a refund. (4) 0.00 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 2.747.25 Make check payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred : ............................... ^ ^X ...................................... b. retain the right to designate who shall use the property transferred or its income; .............................. . . ^ ^X c. retain a reversionary interest; or ............................................................. ^ 0 .................................. d. receive the promise for life of either payments, benefits or care? ...................................................... . . ^ Q 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? ...................................................................................... . ^ 0 3. Did decedent own an "intrust for" orpayable-upon-death bank account or security at his or her death? ........ . ^ ^X 4. Did decedent own an individual retirement account, annuity or other non-probate property, which contains a beneficiary designation? .................................................................................................. ^ ^X IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994, and before Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3 percent [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent (72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: • The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is 0 percent [72 P.S. §9116(a)(1.2)]. • The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5 percent, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. • The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1502 EX+ (01-10) pennsylvania SCHEDULE A DEPARTMENT OF REVENUE INHERITANCE TAX RETURN REAL ESTATE RESIDENT DECEDENT ESTATE OF: FILE NUMBER: ALBERT P. AMICUCCI 21 11 1067 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property that is jointlyowned with right of survivorship must be disclosed on Schedule F. Attach a copy of the settlement sheet if the property has been sold. ITEM Include a copy of the deed showing decedent's interest if owned as tenant in common. VALUE AT DATE NUMBER OF DEATH DESCRIPTION 1. 17 E. PORTLAND STREET 72,000.00 MECHANICSBURG, PA 17055 APPRAISED VALUE BY ROBERT K. BANZHOFF TOTAL (Also enter on Line 1, Recapitulation.) ~ $ 72,000.00 If more space is needed, use additional sheets of paper of the same size. ~Maln File No. EPORTLANDST171 Page #1 SUMMARY OF SALIENT FEATURES Subject Address 17 E. Portland Street Legal Description DEED BOOK 00211 PAGE 00345 City Mechanicsburg County Cumberland State PA Zip Code 17055 Census Tract 0114.00 Map Reference METRO 2846 G-5 Sale Price $ N/A - Date of Sale NIA Borrower/Client N/A Lender Size (Square Feet) 1,302 Price per Square Foot $ Location AVERAGE Age 109 YEARS Condition AVERAGE Total Rooms 6 Bedrooms 3 Baths 1.5 Appraiser Robert K. Banzhoff Date of Appraised Value 7/26!11 Opinion of Value $ 72,000 Form SSD3 - "WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Central Penn Appraisals, Inc. (717) 737-4600 Lain File No EPORTLANDST171 Paue #21 Uniform Residential Annraical RPrlftrt - - -rr------ --r-'- nc r. ~r vr~i~rvuoi ii The purpose of this summary appraisal report is to provide the lender/client with an accurate, and ode uately su orted, opinion of the market value of the subject property. Pro a Address 17 E. Portland Street Ci Mechanicsbur State PA Zi Code 17055 Borrower N/A Owner of Public Record AMICUCCI ALBERT P Coun Cumberland Le al Descri lion DEED BOOK 00211 PAGE 00345 _ Assessor's Parcel # 18-22-0519-043 _____ Tax Year 2011 R.E. Taxes $ 2 606 ___ Nei hborhood Name MECHANICSBURG BOROUGH Map Reference METRO 2846 G-5 Census Tract 0114.00 Occu ant ^ Owner ^ Tenant ~' Vacant S ecial Assessments $ N/A ^ PUD HOA_ $ N/A ^ per year ^ per month " Pro ert Ri hts A raised ®Fee Sim le ^ Leasehold ^ Other describe Assi nment T e ^ Purchase Transaction ^ Refinance Transaction ®Other (describe) This appraisal is for private use and not mortga a ur oses Lender/Client Address Is the subject ro ert current) offered for sale or has it been offered for sale in the twelve months rior to the effective date of this a sisal? ^Yes ~I No Re ort data sources used, offerin rice s ,and dates MLS - - I ^ did ^ did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not erformed. N/A ,- Contract Price $ NIA Date of Contract N/A Is the roe seller the owner of ublic record? ®Yes ^ No Data Sources TXCRD/CNTRCT Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? [i Yes ^ No It Yes, re ort the total dollar amount and describe the items to be paid. Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One-Unit Housing Trends Location ^ Urban ®Suburban ^ Rural Pro a Values Built-U ^ Increasin ®Stable ^ Declinin Over 75% ^ 25-75% ^ Under 25% Demand/Su I ^ Shorts e ~ In Balance ^ Over Su I ;Growth ^ Ra id ®Stable ^ Slow Marketin Time ^ Under 3 mths ~ 3-6 mths ^ Over 6 mths Nei hborhood Boundaries The home is located between York and Market Streets between Main Street „and Schoolside Drive in Mechanicsburg Borough Neighborhood Description This suburban borough has easy access to employment and services and is co One-Unit Housing PRICE AGE $ 000 rs 60 Low 0 350 Hi h 100+ 150 Pretl, 60 mpetitive with other ne Present land Use °h One-Unit 85 % 2-4 Unit 5 % Multi-Famil % Commercial 5 % Other 5 % ighborhoods in the eneral area. Most have similar amenities. Market Conditions includin su ort for the above conclusions The market is still relative) ood in this area with lower than avers a unem to ment rates and continuin low intrest rates. Dimensions SEE LEGAL Area .11 ACRES Sha a RECTANGULAR View AVERAGE S ecific Zonin Classification R2 RESIDENTIAL Zonin Descri lion HIGHER DENSITY RESIDENTIAL _ Zonin Com Hance ~ Le ai ^ Le al Noncontormin Grantlfatheretl Use ^ No Zonin ^ Ille al describe Is the hi hest and best use of sub ect roe as im roved or as ro osed er loos and s ecitications the resent use? ®Yes ^ No If No, describe Utilities Public Other (describe) Public Other (describe) Off-sitelmprovements-Type Public Private Electricit ~ ^ Water ® ^ Street ASPHALT ~ ^ Gas _ ^ ^ Sanitary Sewer ® ^ Alley ASPHALT ® ^ FEMA S ecial Flood Hazard Area ^Yes ®No FEMA Flood Zone X FEMA Ma # 42041C0259E FEMA Map Date 3/16/2009 Are the utilities and off-site im rovements ical for the market area? ~ Yes ^ No If No, describe Are there an adverse site conditions or external factors easements, encroachments, environmental conditions, land uses, etc. ? ^Yes ~ No It Yes, describe General Descri lion Units ®One ^ One with Accessor Unit # of Stories 2 T e ®Det. ^ Att. ^ S-Del./End Unit ® Existin ^ Pro osed ^ Under Const. Foundation ^ C_oncrete Slab ®Crawl Space ^ Full Basement ®Partial Basement Basement Area 586 s .ft. Basement Finish 0 % Exterior Descri lion materials/condition Foundation Walls STONE/AVE Exterior Walls ALUMINUM/AVE Roof Surface SLATE/BU/AVE Gutters & Downs outs ALUMINUM/AVE Interior materials/condition Floors WOOD/VIN/AVE Walls PLAS/WDPNL/AVE Trim/Finish WOOD/AVE _ Bath Floor VINYL/AVE Desi n St le 2 STORY ^ Outside Ent /Exit ^ Sum Pum Window T e DBL HUNG/AVE Bath Wainscot FIBERGLASS/AV Year Built 1902 Effective Age rs 30 Attic ^ None Evidence of ^ Infestation ^ Dampness ^ Settlement Heatin ~ FWA ^ HWBB ^ Radiant Storm Sash/Insulated INSULATED/AVE Screens YES/AVE Amenities ^ Wootlstove s # Car Stora e ^ None ®Drivewa # of Cars 1 Drivewa Surface STONE ^ Dro Stair ~ Stairs ^ Other Fuel OIL I~ Floor ^ Scuttle Coolin ^ Central Air Contlitionin ^ finished ^ Heated ^ Individual ^ Other Appliances ^ Refrigerator ®Range/Oven ^ Dishwasher ^ Disposal ^ Microw ^ Fire laces # ^ Fence ®Gara e # of Cars 1 ^ Patio/Deck ^ Parch ^ Car ort # of Cars ^ Pool ^ Other ^ Att. ~ Det ^ Built-in ave ^ Washer/Dryer ^ Other describe Finished area above rode contains: 6 Rooms 3 Bedrooms 1.5 Bath(s) 1 302 Square Feet of Gross Livin Area Above Grade . Additional features s ecial ener efficient items, etc.. SOME REPLACEMENT WINDOWS NEWER FURNACE Describe the condition of the roe includin needed re airs, deterioration, renovations, remotlelin ,etc.. THE HOME IS DATED AN IN NEED OF UPGRADES KITCHEN BATHS FLOORING ETC. Are there an h sical deficiencies or adverse conditions that affect the livabili ,soundness, or structural tote rit of the roe ? ^ Ves ®No If Yes, descrlbe THE HOME HAS WALK THROUGH BEDROOMS - --- Does the ro ert enerally conform to the neighborhood (functional utility style condition use construction etc )v ~ Yes ^ No If No describe neuuie iwac roan zu rolarcn zuub Page 1 of 6 Fannie Mae Form 1004 March 2005 Form 1004 - "WinTOTAL"appraisal software by a la mode, inc. - 1-800-ALAMODE (Main File No EPORTLANDSTI7J_Pa e #3 UfllfOrm RP.SIdP.ntial Annraical Rannrt --_ - -r r------. ..-~--•- ~r vr~iv~rv uoi ii There are 3 com arable ro erties current) offered for sale in the sub ect nei hborhood ran in in rice from $ 74 900 to $ 84 900 There are 3 comparable sales in the sub'ect nei hborhood within the past twelve months rangin in sale rice from $ 63 000 to $ 99 700 FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 17 E. Portland Street Mechanicsbur PA 17055 Prazimi to Sub'ect 31 E Factory St Mechanicsbur PA 17055 0.07 miles SE 413 S York St Mechanicsbur PA 17055 0.65 miles S 109 E Factory St Mechanicsbur PA 17055 0.12 miles E Sale Price Sale Price/Gross Liv. Area $ N/A $ s tt. $ 60.81 s .tt. $ 63 000 $ 58.50 s .tt. $ 75 000 $ 68 66 s .tt. _ $ 99 700 Data Sources Verification Sources ASMT RECORD SETTLEMENT D S/MLS/AGENT/ EPT. ASMT RECORD SETTLEMENT D S/MLS/AGENT/ EPT. . ASMT RECORD SETTLEMENT D S/MLS/AGENT/ EPT VALUE ADJUSTMENTS Sales or Financing Concessions Date ofSale/Time Location DESCRIPTION VERAGE DESCRIPTION CONVENTION NONE KNOW 3/2 511 1-9 7DM AVERAGE + - $ Ad ustmenl DESCRIPTION CASH NONE KNOW 1/1/11-5DOM AVERAGE + - $ Ad ustment _ DESCRIPTION FHA SLRHLP$3 000 11/24/10-19D AVERAGE . + - $ Ad ustment _ __ Leasehold/fee Sim le Site Fee Sim le 11 ACRES Fee Sim le 09 ACRES __ Fee Sim le 16 ACRES Fee Sim le 12 ACRES __ View AVERAGE AVERAGE AVERAGE _ AVERAGE _ Desi n Style) _ 2 STORY 2 STORY __ ____ 2 STORY _ 2 STORY Quality of Construction AVERAGE AVERAGE _ AVERAGE __ AVERAGE _ Actual A e 109 YEARS 111 YEARS 111 YEARS 111 YEARS _ Condition Above Grade AVERAGE Total Bdrms. Baths AVERAGE Total Bdrms. Baths AVERAGE Total 8drms. Baths __ BTR AVERAGE Total Bdrms. Baths _ -10 000 Room Count 6 3 1.5 6 3 1 +500 6 3 2 -1 500 5 2 2 -1 500 Gross Livin Area Basement & Finished Rooms Below Grade 1 302 s .tt, FULL BMST UNFINISHED 1 036 s .tt. FULL BMST UNFINISHED +4 000 1 282 s .tt. FULL BMST UNFINISHED 1 452 s .ft. PART BMST UNFINISHED -2 300 Functional Utili Heatin /Coolin AVERAGE FA/NO CA BTR AVERAGI HW/NO CA -3 000 BTR AVERAGI FA/NO CA -3 000 BTR AVERAGI EBB/NO CA _ -3 000 • Ener Efficient Items TYP FOR AREA TYP FOR AREA TYP FOR AREA TYP FOR AREA _ tiara a/Car ort ' 1 CAR GARA 1 CAR GARA NONE +1 500 1 CAR GARA Porch/Patio/Deck PORCH PATIO +1 000 PORCH PORCHES -1 000 NONE NONE NONE NONE _ NONE NONE _ _ NONE _ NONE __ __ NONE NONE NONE NONE • Net Ad ustment Total ~ + ^ - $ 2 500 ^ + 'gl - $ -3 000 ^ + ®- $ _ -17 800 Adjusted Sale Price Net Adj. 4.0 % Nel Adj. 4.0 % Net Adj. 17.9 % of Comparables Gross Adj. 13.5 % $ 65 500 Gross Adj, 8.0 % $ 72 000 Gross Adj. 17.9 % $ 81,900 I ^ did ^ did not research the sale or transfer histo of the sub ect roe and com arable sales. If not, ex lain M research ^ did ^ did not reveal an rior sales or transfers of the sub'ect roe for the three ears rior to the effective date of this appraisal. _ Data Sources LOCAL TAX ASSESSMENT RECORDS M research ^ did ®did not reveal an rior sales or transfers of the com arable sales for the ear rior to the date of sale of the com arable sale. Data Sources LOCAL TAX ASSESSMENT RECORDS Re ort the results of the research and anal sis of the rior sale or transfer histor of the sub'ect roe and com arable sales re ort additional rior sales on a e 3 . ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 _ COMPARABLE SALE #3 Date of Prior Sale/iranster NO PRIOR SALE LISTED NO OTHER SALE LISTED NO OTHER SALE LISTED NO OTHER SALE LISTED Price of Prior Sale/Transfer IN THE PAST 3 YEARS IN THE PAST YEAR IN THE PAST YEAR IN THE PAST YEAR Data Sources COUNTY RECORDS COUNTY RECORDS _ COUNTY RECORDS COUNTY RECORDS Effective Date of Data Sources 7/31/11 7/31/11 7/31/11 _ _ 7/31/11 Anal sis of rior sale or transfer histor of the sub ect ro ert and com arable sales There were no unusual characteristics observed in the rior sales histor of the sub ect ro ert or com arable sales. Summar of Sales Com arison A roach All three sales are considered to be reliable indicators of value and are wei hted similar) in the final _ reconciliation. Com arables sales used are all closed sales. All three com arable sales are located in the same market area as the subject ro ert and would be considered b the same ers ective urchaser if all were on the market at the same time as the subject. In order to find _ com arables sales it was necessar to use less recent sales. Closing costs paid are within the normal 6 percent an adjustment is not being made. The functional ad ustment is due to the walk throw h bedroom. Indicated Value by Sales Comparison A proach $ 72,000 Indicated Value by: Sales Comparison Approach $ 72 000 Cost Approach (if developed) $ N/A Income Approach (if developed) $ N/A This appraisal is made ®"as is", ^ subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, ^ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or ^ subject to the • followin re wired ins ection based on the extraordinar assum tion that the condition or deficienc does not re wire alteration or re air Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser's certlflcation, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is $ 72,000 as of 7/26/11 which is the date of ins ection and the effective date of this a raisal. rreaale Mac form /U March 2005 Page 2 of 6 Fannie Mae Form 1004 March 2005 Form 1004 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE (Main File No. EPORTLANDST171 Pa e #4 Uf11f0~fT1 Residential Annraical Rpnnrt AMENDMENT TO SCOPE OF WORK: THE INTENDED USER OF THIS APPRAISAL REPORT IS THE LENDER/CLIENT. THE INTENDED USE IS TO EVALUATE THE PROPERTY THAT IS THE SUBJECT OF THIS APPRAISAL FOR A MORTGAGE FINANCE TRANSACTION SUBJECT TO THE STATED SCOPE OF WORK PURPOSE OF THE APPRAISAL REPORTING REQUIREMENTS OF THIS APPRAISAL REPORT _ FORM AND THE DEFINITION OF MARKET VALUE AS DEFINED BY FANNIE MAE OR FREDDIE MAC. THE REPLACEMENT COST IS USED FOR NEW CONSTRUCTION _ THE INCOME APPROACH IS USED ONLY WHEN THE SUBJECT IS TO BE A SINGLE FAMILY RENTAL PROPERTY. FHA APPRAISALS ARE NO GUARANTEE THAT THE PROPERTY IS FREE FROM DEFECTS. THE APPRAISAL ONY ESTABLISHES THE VALUE OF THE PROPERTY FOT MORTGAGE PURPOSES. BUYERS NEED TO SECURE THEIR OWN HOME INSPECTIONS THROUGH THE SERVICES OF QUALIFIED INSPECTORS. COST APPROACH TO VALUE (not re wired by Fannie Mae) Provide ode wale information for the lender/client to re licate the below cost fi ures and calculations. _ Su ort for the o inion of site value summar of com arable land sales or other methods for estimatin site value ESTIMATED ^ REPRODUCTION OR ~ REPLACEMENT COST NEW - OPINION OF SITE VALUE _$ .Source of cost data MARSHALL 8 SWIFT COST VAULATION SERVICE _ DWELLING S .Ft. @ $ _$ Uuali ratio from cost service AVE. Effective date of cost data 06/2008 _ _ S .Ft. @ $ _$ - Comments on Cost A roach ross livin area calculations, de reciation, etc. =g tiara a/Car ort S .Ft. @ $ _$ __ Total Estimate of Cost-New =$ _ Less Ph steal Functional External _ De reciation - _ _ =$( - -- _ _ _ _._ De reciated Cost of Im rovemenis =$ "As-is"Value of Site Im rovements _$ Estimated Remainin Economic Life HUD and VA only Years INDICATED VALUE BY COST APPROACH _$ INCOME APPROACH TO VALUE (not re ulred b ~annle Mae) Estimated Monthl Market Rent $ N/A X Gross Rent Multi tier N/A = $ N/A Indicated Value by Income Approach Summa of Income A roach includin su ort for market rent and GRM PROJECT INFORMATION FOR PUDa (if ap licable) Is the develo er/builder in control of the Homeowners' Association (HDA)? ^ Ves ^ No Unit type(s) ^ Detached ^ Attached Provide the followin information for PUDs ONLY it the develo er/builder is in control of the HOA and the sub'ect ro ert is an attached dwellin unit. Le al Name of Pro ect Total number of hoses Total number of units Total number of units sold Total number of units rented Total number of units for sale Data sources __ Was the ro ect created b the conversion of existin buildin s into a PUD? ^ Yes ^ No If Yes, date of conversion. __ Does the ro'ect contain an multi-dwellin units? ^ Yes ^ No Data Source Are the units, common elements, and recreation facilities com lete? ^ Yes ^ No If No, describe the status of com letion. Are the common elements leased to orb the Homeowners' Association? ^ Yes ^ No It Yes, describe the rental terms and options. Describe common elements and recreational facilities, Freddie Mac Form 70 March 2005 Page 3 of 6 Fannie Mae Form 1004 March 2005 Form 7004 - "WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE (Main File No EPORTLANDST77! Paoe #5~ unitorm Residential Appraisal Report FileN EPORTLANDST17 This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. Freddie Mac Form 70 March 2005 Page 4 of 6 Fannie Mae Form 1004 March 2005 Farm 1004-"WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE ;Main File No. EPORTLANDST171 Page #6] VInlVllil f1GJ1UGlllldl H~JEJIQI5dl (~E,'~UfI File# EPORTLANDST17 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions turnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. Fretltlie Mac Form 70 March 2005 Page 5 of 6 Fannie Mae Form 1004 March 2005 Farm 1004 - "WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Main File No. EPORTLANDST171 Pa e #7 unirorm r~esiaentiai Appraisal Report File# EPORTLANDSTI7 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (it applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either asub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature _ Signature Name Robert K Banzhoff Name Company Name Central Penn Appraisals Inc. Company Name Company Address 24 West Main Street Shiremanstown PA Company Address Telephone Number 7( 17) 737-asoo Email Address robert(o~cpa-appraisalsinc.com _ _ Date of Signature and Report _ Effective Date of Appraisal 7/26/11 _ State Certification # RL001231 L or State License # ___ or Other (describe) __ State # State PA Expiration Date of Certification or License 0613 0/2 01 3 ADDRESS OF PROPERTY APPRAISED 17 E. Portland Street Mechanicsburg, PA 17055 APPRAISED VALUE OF SUBJECT PROPERTY $ 72,000 LENDER/CLIENT Name Company Name Company Address Email Address Telephone Number _ Email Address __ Date of Signature __ State Certification # _ _ or State License # State Expiration Date of Certification or License SUBJECT PROPERTY ^ Did not inspect subject property ^ Did inspect exterior of subject property from street Date of Inspection _ I^I Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES ^; Did not inspect exterior of comparable sales from street ^ Did inspect exterior of comparable sales from street Date of Inspection rreodie mac Norm 70 March 2005 Page 6 of 6 Fannie Mae Form 1004 March 2005 Form 1004 - "WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE REV-1508 EX + (6-98) SCHEDULE E COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, ~ MISC. INHERITANCE TAX RETURN RESIDENT DECEDENT PERSONAL PROPERTY ESTATE OF FILE NUMBER ALBERT P. AMICUCCI 21 11 1067 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointlyowned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. PNC 6,591.81 CHECKING 2. (MEMBERS 1ST FEDERAL CREDIT UNION I 778.71 SAVINGS 3. I INTERNAL REVENUE SERVICE I 393.00 2011 INCOME TAX REFUND TOTAL (Also enter on line 5, Recapitulation) I $ 7 763 52 (If more space is needed, insert additional sheets of the same size) REV-1511 EX+ (10-09) pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS __ TATE OF FILE NUMBER ALBERT P. AMICUCCI 21 11 1067 Decedent's debts must be reported on Schedule 1. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1. MYERS BUHRIG FUNERAL HOME & CREMATORY, LTD 1,507.00 2. FUNERAL RECEPTION -MECHANICSBURG CLUB 894.69 B. ADMINISTRATIVE COSTS: 1. Personal Representative Commissions: Name(s) of Personal Representative(s) FRANK A. AMICUCCI Street Address 225 W. SIMPSON STREET City MECHANICSBURG State PA ZIP 17055 Year(s) Commission Paid: (RENOUNCED) 2, Attorney Fees: MURREL R. WALTERS, III 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation.) Claimant Street Address City State ZIP Relationship of Claimant to Decedent 4• Probate Fees: CUMBERLAND COUNTY REGISTER OF WILLS 5 I Accountant Fees: 6. ~ Tax Return Preparer Fees: 7 TOTAL (Also enter on Line 9, Recapitulation) I $ If more space is needed, use additional sheets of paper of the same size. 2,100.00 280.50 REV-1512 EX+(12-08) pennsylvania SCHEDULE I DEPARTMENT OF REVENUE DEBTS OF DECEDENT, INHERITANCE TAX RETURN MORTGAGE LIABILITIES & LIENS RESIDENT DECEDENT ~ `" "" "" FILE NUMBER ALBERT P. AMICUCCI 21 11 1067 Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1. PENNSYLVANIA DEPARTMENT OF PUBLIC WELFARE 9,086.40 MEDICAID 2. SARAH A. TODD MEMORIAL HOME 1,734.78 RESIDENTIAL CARE 3. MILLENIUM PHARMACY SYSTEMS 829.65 PRESCRIPTIONS 4. VERIZON 15.96 PHONE 5. COMCAST 1.31 CABLE 6. ALLSTATE 366.30 HOMEOWNERS INSURANCE 7. PPL 138.20 ELECTRIC 8. UNITED 255.03 WATER 9. MECHANICSBURG BOROUGH 400.96 REFUSE 10. GUERRIERO 500.00 LAWN CARE & SNOW REMOVAL 11. COUNTYIBOROUGH 602.63 REAL ESTATE TAXES TOTAL (Also enter on Line 10, Recapitulation) I $ 13 931 22 If more space is needed, insert additional sheets of the same size. REV-1513 EX+ (01-10) pennsylvania SCHEDULE J DEPARTMENT OF REVENUE BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF: FILE NUMBER: ALBERT P. AMICUCCI 21 11 1067 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [Include outright spousal distributions and transfers under Sec. 9116 (a) (1.2).] 1. DEBORAH J. AMICUCCI Lineal 25.00 1205 CROSS CREEK DRIVE MECHANICSBURG, PA 17050 2. FRANK A. AMICUCCI Lineal 25.00 225 W. SIMPSON STREET MECHANICSBURG, PA 17055 3. MARGARET L. STOY Lineal 25.00 303 JAMES ROAD CARLISLE, PA 17013 4. JOHN P. AMICUCCI Lineal 25.00 406 W. ELMWOOD AVENUE MECHANICSBURG, PA 17055 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER SHEET, AS APPROPRIATE. II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN: 1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS: 1. TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. I $ If more space is needed, use additional sheets of paper of the same size.