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HomeMy WebLinkAbout01-1015 REV-1500 EX . (6-00l. '* COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE DEPT. 280601 HARRISBURG. PA 17128-0601 REV -1500 INHERITANCE TAX RETURN RESIDENT DECEDENT OFFICIAL USE ONLY _ull-~--~CL~~ C--_ FILE NUMBER 2 1 -0 1 1 0 1 5 COONTYCODE ---YEAr;--- - - NuMBER- - I- Z W o w o w o DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL) Fuller Janet L. DATE OF DEATH (MM-DD-Year) DATE OF BIRTH (MM-DD-Year) SOCIAL SECURITY NUMBER 1 80- 1 0 - 6 8 8 5 THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS SOCIAL SECURITY NUMBER W I- ll:SII) uO::ll: wll..u :rOO " O::..J ~ ll..lD ll.. c:( 10/21/2001 08/06/1914 (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) [Xl 1. Original Retum o 4. Limited Estate [Xl 6. Decedent Died Testate (Attach copy of Will) o 9. Litigation Proceeds Received o 2. Supplemental Retum o 4a. Future I nterest Compromise (dale of death after 12-12-62) o 7. Decedent Maintained a Living Trust (Attach copy ofTrusl) o 10. Spousal Poverty Credit (date of death between 12-31-91 and 1-1-95) o 3. Remainder Return (date of death pliorto 12-13-62) o 5. Federal Estate Tax Return Required 1- 8. Total Number of Safe Deposit Boxes o 11. Election to tax under Sec. 9113(A) (Attach Sch 0) >tflIS;SEct~ON MUST Bl::tCOMPCETED.:4t\Cll1iCORRESPONDENCE'ANO'OONFIDENTfAti,:rJUc: ~n~FORMATION:SflOUI.:OBE;OI~ECTEDTO~;lr;;Tij NAME COMPLETE MAILING ADDRESS Joel R. Zullin er 14 North Main Street, Suite 200 FIRM NAME (If Applicable) Zullin er Davis P.C. TELEPHONE NUMBER 717264-6029 Chambersbur PA 17201 I- Z W C Z o ll.. II) W 0:: 0:: o U z o i= <( ....I ::J l- e: <( o W 0:: z o i= <( I- ::> 0.. ~ o o >< <( I- (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1. Real Estate (Schedule A) 2. Stocks and Bonds (Schedule B) 3. Closely Held Corporation, Partnership or Sole-Proprietorship 4. Mortgages & Notes Receivable (Schedule D) 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) 6. Jointly Owned Property (Schedule F) o Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G or L) 8. Total Gross Assets (total Lines 1-7) 9. Funeral Expenses & Administrative Costs (Schedule H) 10. Debts of Decedent, Mortgage Liabilities. & Liens (Schedule I) 11. Total Deductions (total Lines 9 & 10) 12. Net Value of Estate (Line 8 minus Line 11) 13. Charitable and Govemmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) 14. Net Value Subjeclto Tax (Line 12 minus Line 13) SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15. Amount of line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) 19. Tax Due X _(15) X _(16) 48,145.60 X .12 (17) 372,840_82 X .15 (18) (19) 17~:OOO.00 I I I I I 1-' 277,194.861",: 1< I OFFICIAL USE ONLY 454,194.86 31,333.98 874.46 (11) (12) (13) 32,208.44 421,986.42 1,000.00 (14) 420,986.42 16. Amount of Line 14 taxable at lineal rate 5,777.47 55,926.12 61,703.59 17. Amount of Line 14 taxable at sibling rate 20. 0 CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT > > BE SURE TO ANSWER ALL QUESTIONS,ONREVERSE;SIDE AND RECHECKMATH "~ <;. ", Ai:,'"".;"n<.- 18. Amount of Line 14 taxable at collateral rate Decedent's Complete Address: STREET ADDRESS 57 West Kina Street ~ CITY I STATE I ZIP Shippensburg PA 17257 Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount (1 ) 61,703.59 55.100.00 2.900.00 Total Credits (A + B +C) (2) 58,000.00 3. Interest/Penalty if applicable D. Interest E. Penalty Total Interest/Penalty ( 0 + E) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund (4) 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) A. Enter the interest on the tax due. (5A) B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5B) Make Check Payable to: REGISTER OF WILLS, AGENT 0.00 3,703.59 3,703.59 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; ........................................................................... 0 00 b. retain the right to designate who shall use the property transferred or its income; ........................................ 0 00 c. retain a reversionary interest; or ...................................................................................................... 0 00 d. receive the promise for life of either payments, benefits or care? ............................................................. 0 00 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration?............................................................................................... 0 00 3. Did decedent own an 'in trust for' or payable upon death bank account or security at his or her death? ................. 0 00 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ....................................................................................................... 0 00 IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. ADDRESS ADDRESS PA 17201 For dates of death on or after July 1,1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3% [72 P.S. ~9116 (a) (1.1) (i)J. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to orfor the use of the surviving spouse is 0% [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 twenty-one 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% [72 P.S. S9116(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%, except as noted in 72 P.S. ~9116(1.2) [72 P.S. s9116(a)(1 )J. The tax rate imposed on the net value of transfers to orfor the use of the decedent's siblings is 12% [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. ~ SCHEDULE A REAL ESTATE REV-I502EX' (1-97) ESTATE OF FILE NUMBER Fuller. Janet L. 21 01 1015 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 which is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM I NUMBER 1. DESCRIPTION Tract of real estate situate at 55-57 West King Street, Shippensburg, Cumberland County Pennsylvania, appraised by Horn & Company Appraisals with copy attached VALUE AT DATE OF DEATH 177 ,000.00 TOTAL (Also enter on line 1, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 177 000.00 REV-150B EX +1'-91) '* " ' ~ COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF Fuller. Janet L. 1015 FILE NUMBER 21 01 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. DESCRIPTION Personal Property appraised by Dennis L. Gotshall, with copy attached VALUE AT DATE OF DEATH 1,103.00 Checking Account #0020306652, Allfirst Bank, including interest accrued to date of death 20,903.45 Certificate of Deposit #80000002000090, Allfirst Bank, including interest accrued to date of death 12,561.42 Certificate of Deposit #80000002000091, Allfirst Bank, including interest accrued to date of death 40,074.94 Certificate of Deposit #80000002000092, Allfirst Bank, including interest accrued to date of death 52,284.64 Certificate of Deposit #80000002000093, Allfirst Bank, including interest accrued to date of death 10,007.00 Certificate of Deposit #80000002000134, Allfirst Bank, including interest accrued to date of death 10,018.59 Certificate of Deposit #80000002000344, Allfirst Bank, including interest accrued to date of death 90,365.50 Certificate of Deposit #80000002000767, Allfirst Bank, including interest accrued to date of death 10,033.78 Certificate of Deposit #87008141002163, Allfirst Bank, including interest accrued to date of death 10,003.08 Certificate of Deposit #87008141017659, Allfirst Bank, including interest accrued to date of death 10,007.78 Jewelry appraised by Ludwigs Jewelers, with copy attached 5,179.00 Gross proceeds from sale of personal property by Dennis L. Gotshall 4,622.50 . Refund, Com cast Cable 30.18 TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 277.194.86 REV-1511EX + (1-97) .' , " ' , . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF Fuller. Janet L. FILE NUMBER 21 01 1015 Debts of decedent must be reported on Schedule I. ITEM I NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1. Fogelsanger-Bricker Funeral Home, funeral expense 7,342.80 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative (s) Social Security Numbe~s) I EIN Number of Personal Representative(s) Street Address City State Zip Yea~s) Commission Paid: 2. Attomey Fees Joel R. Zullinger 21,500.00 3. Family Exemption: (If decedenfs address is not the same as cla/manfs, attach explanation) 0.00 Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees Mary C. Lewis, Register - JCP fee 5.00; probate petition 340.00; extra pages 418.00 27.00; short certificates 18.00; filing return 28.00 5. Accountanfs Fees 0.00 6. Tax Return Prepare~s Fees 0.00 7. Tim Gruver's Plumbing, repair service at decedent's residence 70.00 8. News-Chronicle, advertise letters 66.35 9. Cumberland Law Journal, advertise letters 75.00 10. Com cast, cable service at decedent's residence 34.57 11. Sprint, telephone service at decedent's residence 27.61 12. GPU Energy, utilities at decedent's residue 44.82 13. McNeil's Lockship, change locks on decedent's residence 36.57 14. Sprint, telephone service at decedent's residence 26.97 15. Ludwigs Jewelers, appraise jewelry 100.00 16. PPL Gas Utilities, gas service to decedent's residence 342.64 17. GPU Energy, utilities at decedent's residence 67.27 18. Dennis L. Gotshall, appraise personal property 30.00 TOTAL (Also enter on line 9, Recapitulation) $ 31 333,98 (If more space IS needed, Insert additional sheets of the same size) -':"',.., . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Fuller. Janet L. SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES & LIENS FILE NUMBER 21 01 1015 Include unreimbursed medical expenses. ITEM NUMBER DESCRIPTION AMOUNT 1. Erie Insurance Group, insurance due at date of death 80.00 2. Comcast, cable service due at death 34.57 3. Sprint, telephone service due at death 28.24 4. GPU Energy, utilities due at death 70.15 5. Fayetteville Volunteer Fire Department, ambulance service due at death 87.50 6. United States Treasury, personal income tax due for 2001 469.00 7. Pennsylvania Department of Revenue, personal income tax due for 2001 105.00 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 874.46 Rev,:,,,,.,. COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHEDULE J BENEFICIARIES FILE NUMBER Fuller Janet L. ?1 01 1015 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee{s) OF ESTATE 1. TAXABLE DISTRIBUTIONS pnclude outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1. Trudy Collier none cash bequest $500.00 15489 Paxton Run Road Newburg, PA 17240 2. Nicki Glunt niece cash $500.00;p/p 100.00; 126 N. Fayette Street 1/120 $3,416.47-XIIIC2; Shippensburg, PA 17257 3/80 $15,374.12-XIIID 3. Cynthia Hershey niece cash $1,000;p/p 3,720.; 171 Chamberlin Road 1/15 $27,331.76-XIIIA; Shippensburg, PA 17257 1/120 $3,416.47-XIIIC2 4. Angell Kilgore great-niece cash bequest $300.00 442 Ohio Avenue Chambersburg, PA 17201 5. Holly Franklin great-niece cash bequest $500.00 199 Hilltop Road pip 70.00; Newburg, PA 17240 6. Bertha Louise Johnson none cash bequest $500.00 490 Mountain View Road Shippensburg, PA 17257 7. Anna Mae Fawber none cash bequest $500.00 359 Swatara Street Harrisburg, PA 17113 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE 1, 0,00 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS 1, Memorial Lutheran Church 1,000.00 Shippensburg, PA 17257 TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 1 000.00 (If more space is needed, insert additional sheets of the same size) Continuation of REV-1500 Inheritance Tax Return Resident Decedent Full;;r, Janet L. 21 01 1015 PaQe 1 Schedule H - Funeral Expenses & Administrative Costs - 87. ITEM NUMBER DESCRIPTION AMOUNT 19. 20. 21. 22. PPL Gas Utilities, gas service to decedent's residence Horn & Company Appraisals, appraisal of real estate Fort Loudon Business Center, preparation of decedent's final income tax returns PPL Gas Utilities, gas service at decedent's residence 225.34 650.00 144.00 132.04 SUBTOTAL SCHEDULE H-B7 1,151.38 Continuation of REV-1500 Inheritance Tax Return Resident Decedent ~ FullEir, Janet L. 21 01 1015 Page 2 Schedule J - Beneficiaries - 1 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) 8. Roberta Cohick none cash bequest $500.00 139 Bridge Road Newville, PA 17241 9. Rebecca Etter none cash bequest $500.00 106 Middle Spring Road Shippensburg, PA 17257 10. Robert Bigler nephew 1/15 $27,331.76-XIIIA; 3311 Queen Street N. 1/120 $3,416.47-XIIIC2 St. Petersburg, FL 33713-2843 pIp 20.00 11. Janet Suzann Rhoades niece 1/15 $$27,331.76-XIIIA; 165 Goodhart Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 pIp $975.00 12. Jan Bigler niece 1/20 $20,498.82-XIIIA; 2112 Roxbury Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 13. Michelle Bigler niece 1/120 $3,416.47-XIJlC2; 1131 Cider Press Road 1/20 $20,498.82-XIIIB Chambersburg, PA 17201 14. Nicole Watson niece 1/20 $20,498.82-XIIIB; 167 Hillbrook Drive 1/120 $3,416.47-XIIIC2 Cameron, NC 15. Leon Frances Bigler nephew 1/20 $20,498.82-XIIIB; 3611 Highland Drive 1/120 $3,416.47-XIIIC2 Ayden, NC 28513 16. Randy Bigler nephew 1/15 of residue-XIIIC1 106 Tidwell Drive $27,331.77 Huntsville, AL 35806 17. Glenn J. Bigler brother 1/20 $20,498.83-XIIID1; 1380 Mainsville Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 18. Nancy Jones niece 1/20 $20,498.82-XIIID2; 408 Blacklatch Road 1/120 $3,416.47-XIIIC2 Camp Hill, PA 17011 p/p- $85.00 19. Glenn L. Bigler nephew 1/20 $20,498.82-XIIID2; Rice Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 pIp $315.00 20. Jerry Bigler brother 1/20 $20,498.83-XIIIE1; 8738 Olde Scotland Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 21. Gordon Bigler nephew 3/80 $15,374.12-XIIIE2; 8702 Olde Scotland Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 ~~ LL. r\UUII v c:lll/"\I ~ ,,"''''''' vlVV 'l' 'v,vl"T. I'<'-/'-III'-L, 605 Britton Road Shippensburg, PA 17257 1/120 $3,416.47-XIIIC2 .. Continuation of REV-1500 Inheritance Tax Return Resident Decedent Full~r, Janet L. 21 01 1015 Page 3 Schedule J - Beneficiaries - 1 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) 23. Tina Hamilton niece 3/80 $15,374.12-XIIIE2; 8629 Pineville Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 24. Sara Jane Johnson niece 3/80 $15,374.11-XIIIE2; 8750 Olde Scotland Road 1/120 $3,416.47-XIIIC2 Shippensburg, PA 17257 25. Delores Bigler sister-in-law personal property $475 212 Roxbury Road Shippensburg, PA 17257 26. Francis Louise Bigler sister-in-law pIp $450.00 1380 Mainsville Road Shippensburg, PA 17257 ~ '. · JRZ - 5.1 fuller.2 April 21, 2001 LAST WILL AND TESTAMENT I, Janet L. Fuller, of the Borough of Shippensburg, Cumberland County, Pennsylvania, being of sound and disposing mind, memory and understanding, do hereby declare this to be my will, hereby revoking any and all former wills and codicils thereto by me heretofore made. I. I direct that all my just debts and funeral expenses, including all expenses of my last illness, shall be paid from my estate as soon as practicable after my decease as a part of the expense of the administration of my estate. II. I give and bequeath those items listed on a separate unsigned memorandum which refers to this my will by date to the individuals named therein. In the event that no such memorandum shall be found within thirty days following my death, this bequest shall be considered null and void. ( III. I give and devise the sum of $500.00 cash to Trudy Collier if she survives me. IV. I give and devise the sum of $500.00 cash to my niece, Nikki ~ Glunt, in recognition of all she has done for me, if she survives me. V. I give and devise the sum of $1,000.00 cash to Cynthia Hershey if she survives me. VI. I give and devise the sum of $300.00 cash to my great-niece, Angell Kilgore if she survives me. VII. I glve and devise the sum of $500.00 cash to my great-niece, Holly Franklin, if she survives me. Page 2 ~ VIII. I give and devise the sum of $500.00 cash to Bertha Louise Johnson, if she survives me. IX. I give and devise the sum of $500.00 cash to Anna Mae Fauber of Steelton, Pennsylvania, if she survives me. X. I give and devise the sum of $500.00 cash to Roberta Cohick of Carlisle, Pennsylvania, if she survives me. XI. I give and devise the sum of $500.00 cash to Rebecca Etter of Shippensburg, Pennsylvania 1 for all she has done for me, if she survives me. XII. I give and devise the sum of $1/000.00 cash to Memorial Lutheran Church, Shippensburg, Pennsylvania. Page 3 XIII. I give and devise the residue of my estate of every nature and wherever situate in five equal shares as follows: A. One equal share to the children of my deceased brother, Arthur Bigler, namely Robert Bigler, Cynthia Hershey, and Janet Suzann Rhoades, in equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary's issue, per stirpes, living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be added to the share or shares of my other then-living beneficiaries named in this paragraph A. B. One equal share to the children of my deceased brother, Leon Bigler, namely Jan Bigler, Mitchell Bigler, Nicole Watson, and Leon Frances Bigler, in equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary'S issue, per stirpes, living on the thirty- first day following my death, and in default of any such then-living issue, such share shall be added to the share or shares of my other then-living beneficiaries named in this paragraph B. C. One equal share to be divided as follows: Page 4 ~ 1. One-third thereof to Randy Bigler, the son of my deceased brother, Gordon Bigler, provided that should Randy Bigler predecease me or die on or before the thirtieth day following my death, hiQ " share shall be distributed to his lssue, per stirpes, living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be distributed under this paragraph C, subparagraph 2 herein. 2. Two-thirds thereof to be divided equally among subparagraphs A, B, D, and E and distributed under the terms of said subparagraphs. D. One equal share divided as follows: ,.;iI;". 1. Twenty-five percent thereof to my brother, Glenn L.- Bigler, provided should my said brother predecease me, his share shall be distributed under this subparagraph 2 of this paragraph D. 2. Seventy-five percent thereof to the children of my brother, Glenn L. Bigler, namely Nancy Jones, Jackie Bigler and Nikki Glunt, In equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary's issue, per stirpes , living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be Page 5 " ." E. added to the share or shares of my other then- living beneficiaries named in this subparagraph 2. One equal share divided as follows: 1. Twenty- five percent thereof to my brother, Jerry Bigler, provided should my said brother predecease me, his share shall be distributed under this subparagraph 2 of this paragraph E. 2. Seventy-five percent thereof to the children of my brother, Jerry Bigler, namely Gordon J. Bigler, Robin VanArt, Tina Hamilton and Sarah Jane Johnson, in equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary's issue, per stirpes, living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be added to the share or shares of my other then-living beneficiaries named in this subparagraph 2. XIV. I direct my executor to give my brothers, Glenn Bigler and Jerry Bigler, the fiyst opportunity to purchase my real estate on West King Styeet in the Borough of Shippensburg at its fair market value as determined for Pennsylvania inheritance tax p~rposes. In Page 6 ~ the event both of my brothers wish to purchase said real estate, my executor shall devise a fair means of determining who shall have the opportunity to purchase said real estate. In the event both of my said brothers do not wish to purchase said real estate, then I authorize my executor to offer the real estate to Gary and Cynthia Hershey at its fair market value as finally determined for Pennsylvania inheritance tax purposes. xv. Any fiduciary under this will shall have the following powers in addition to those vested in them by law and by other provisions of my will applicable to all property whether principal or income, including property held for minors, exercisable without Court approval, and effective until actual distribution of all property: A. To retain any and all of the assets of my estate, real or personal, without regard principle to of any diversification of risk. B. To invest in all forms of property including stock, common trust funds and mortgage investment funds without restriction to investments authorized for Pennsylvania fiduciaries as they deem proper, without regard to any principle of diversification of risk. C. To sell at public or private sale, to exchange or to lease for any period of 4-' l..lme any real or personal property and to give options for sales, exchanges or Page 7 ~ leases, for such prices and upon such terms or conditions as they deem proper. D. To allocate receipts and expenses to principal or income or partly to each as they from time to time think proper. E. To compromise any claim or controversy. F. To distribute in cash or in kind or partly in each. G. To hold property in their names without designation of any fiduciary capacity or in the name of a nominee or unregistered. ;..... ~""'..... XVI. I direct that all taxes that may be assessed in consequence of my death of whatever nature and by whatever jurisdiction imposed, shall be paid from my residuary estate as a part of the expense of the administration of my estate. XVII. I appoint Joel R. Zullinger, Esq., as executor of this my will. XVIII. The interest or the beneficiaries hereunder shall not be subject to anticipation or to voluntary or involuntary alienationi Page 8 " and the principal and lncome shall be paid by the trustee or guardian directly to or for the use of the beneficiary entitled thereto, without regard to any assignment, order, attachment or claim whatever. XIX. No bond shall be required of any fiduciary hereunder in any jurisdiction. IN WITNESS WHEREOF, I hereunto set my hand and seal to this my last will and testament, consisting of ten typewritten pages, the first eight of which bear my signature in the margin for the purpose of identification this ./ -' _~:t__ day of ----; >7 2 /) /'\ " ~.- ,f._/ (SEAL) / Signed, sealed, published and declared by the above-named testatrix as and for her last will and testament in our presence, who in her presence, at her request and in the presence of each other have hereunto set our hands as attesting witnesses. Page 9 We, Janet L. Fuller, {);~/ f ~~~, the ~.e/' , "t/2~/ /,/; V"~ and ,~d ......, bI testatrix and the witnesses respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the testatrix signed and executed the instrument as her last will and testament and that she executed it as her free and voluntary act for the purposes therein expressed and that each of the witnesses, in the presence and hearing of the said testatrix, signed the will as witnesses and to the best of their knowledge, said signer was at that time eighteen years of age or older, of sound mind and under no constraint or undue influence. ...l , ,~., :>:.1:'...,(. J,/-- .,.~.' >;~ l...( ,<..-<:.,L.., Testatrix Witness- Subscribed, sworn to and acknowledged before me by the above-named signer and subscribed and sworn to beforeJ~ by the above-named ~ktnesses this ~~ day of , /&1 ' 2#/. a~/~ No~ry PubllC !Notarial Sea! - '--= . - ..... ._.. 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Zullinger 20 East Burd Street Shippensburg, PA 17257 As of February 22,2001 Prepared by Barbara Horn Boock Certified General Appraiser TABLE OF CONTENTS Letter of Transmittal 1 Summary of Important Data 2 Purpose of the Appraisal 3 Scope of the Appraisal 4 Highest and Best Use 5-7 Identification of Site and Legal Description 8 Neighborhood and Area Geographic Data 9-11 Economic Structure 12 Method of Evaluation 13-14 Description of Improvements 15 Income Approach 16-19 Sales Comparison Approach 20-25 Final Reconciliation 26 Addenda Subject Photos Location Map Flood Map Floor Plans Deed Zoning & Map Limiting Conditions Appraiser Qualifications February 22, 2002 Joel R. Zullinger 20 East Burd Street Shippensburg, P A 17257 Dear Joel: At your request I have conducted a physical inspection of the interior as well as the exterior of the property located at 20 West King Street, Shippensburg, Pennsylvania on the 1 st day of February. The property is recorded in the Cumberland County Courthouse in Deed Book T- 18, Page 13, in the name of Donald M. Fuller and Janet L. Fuller, both deceased. The purpose of this appraisal is to establish market value as of the date of death, October 22, 2001. After careful consideration of all data assembled in this report, I have established that the market value for the subject is $177,000. The following factors are considered in forming my opinion of value: 1. Location 2. Income generated from rents 3. Highest and best use 4. Recent sales of other comparable properties I have no knowledge of a cloud on the title or any liability, which would adversely affect the property. I have no interest, present or contemplated, in the property nor is my fee in any way contingent upon the estimated value and is not based on a requested value or a specific value for the approval of a loan. Should there be any questions or concerns relative to the contents or conclusion of this report, I would be happy to discuss them with you at any time. Sincerely, " /"7 /'" f: ,/- , .-,<./ _ ~ /; , G~' / (, { V", "_ ? Y :-d''c~:.ud-/ /I/t' /-7{ ,,'Prj ,:'4:.'''C/t BARBARA HORN BOOCK P A Certified General Appraiser State Certification #GA-000960-L SUMMARY OF IMPORTANT DATA PPROPERTY: 20 West King Street, Shippensburg, Cumberland County, PA OWNERSIDP: Donald M. and Janet L. Fuller, both deceased ZONING: Zoning is Commercial UTILITIES: Public electricity, water and sewer LAND AREA APPRAISED: .15 plus .01 or .16 acres ASSESSED VALUATION AND TAXES: Land Improvement Total 37,830 185,840 223,670 Mill Rate 0.01327900 Total Real Estate Tax 223,670 X 0.01327900 $2,970 2 PURPOSE OF THE APPRAISAL The purpose ofthe appraisal is to establish market value of the subject property as of the date of death, October 22, 2001. Market value may be defined as follows: 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 considers his 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 fmancing or sales concessions granted by anyone associated with the sale. 3 Scope of the Appraisal Process In the preparation of this appraisal, I made am interior and exterior inspection of the property on February 1,2002. I was given a tour of the entire three floors of the building by Mr. Joel Zullinger, Executor of the estate of Janet L. Fuller, and Mr. Jerry A. Bigler, brother of Mrs. Fuller. I gathered information to be included in this report and took interior as well as exterior photographs of the subject and the surrounding area. Data concerning the subject property was located at the Cumberland County Courthouse. Sales of comparable similar properties were identified and located through the Metropolitan Regional Information System, Inc. (MRIS) and the Cumberland County Assessment and Recorder of Deeds Offices. Additional data, already verified and recorded in the appraiser's files, was reviewed and used in the report where appropriate. Every effort was made to locate sales ofproperties that have or could have a similar use. The improved properties were visited and photographed and have been included in this report. In the valuation process, only two of the approaches to value were considered and were used where the appraiser felt they were applicable. The three separate approaches to value were explained in the body of this report. Those approaches considered to be appropriate were correlated into a fmal estimate of value and separately addressed by the appraiser. 4 HIGHEST AND BEST USE The Highest and Best Use Analysis is the single most important factor in the valuation of real property. It reflects the motives of the market for the subject property. The definition of Highest and Best Use "The reasonable probable and legal use of vacant land or as improved property, which is physically possible, appropriately supported, fmancially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, fmancial feasibility, and maximum profitability." 1 In estimating highest and best use, there are essentially four stages of analysis: 1. Possible Use. What uses of the site in question are physically possible? 2. Permissible Use (legal). What uses are permitted by zoning and deed restrictions on the site in question? 3. Feasible Use. Which possible and permissible uses will produce a net return to the owner of the site? 4. Highest and Best Use. Among the feasible uses, which use will produce the highest net return or the highest present worth? The highest and best use of the land (or site) ifvacant and available for use may be different from the highest and best use of the improved property. This is true when the improvements are not an appropriate use, but it makes a contribution to the total property value in excess of the value of the site. The following tests must be met in estimating the highest and best use; the use must be legal. The use must be probable, not speculative or conjectural. There must be a profitable demand for such use and it must return to the land the highest net return for the longest period of time. These tests have been applied to the subject site. In arriving at the estimate of highest and best use, the subject site was analyzed as "if vacant" and available for development, as well "as improved". 5 1 American Institute of Real Estate Appraisers of the National Association of Realtors, Dictionary of Real Estate AppraisaL Second Edition, (Illinois Not for Profit Corp, 1989, page 149). HIGHEST and BEST USE ANALYSIS POSSIBLE USE: The fITst restriction placed on the possible use of the site is decided by the physical characteristics of the site itself. Generally, the larger the parcel, the greater the potential to achieve economic flexibility in development. The subject property is located in the Borough of Shippensburg, approximately 5 blocks from the Shippensburg University campus. The site contains .16 acre and is located on West King Street. The surrounding area is composed of mostly commercial properties, with several residential homes. Many of the downtown buildings have a commercial use on the fITst floor with residential apartments on the subsequent floors. Shippensburg, being a college oriented town as the home of Shippensburg University has a need for such housing. The location is such that a commercial with residential above would most likely create the highest return to the property. PERMISSIBLE USE: Zoning, private building codes, environmental regulations, etc., must be considered since they may hinder many possible uses. Those uses permitted under zoning typically make up the choices available in the determination of the Highest and Best Use. The zoning ordinance for the subject is Commercial-I, the least restricted area in the Borough of Shipp ens burg, allowing for a variety of uses. See attached ordinance FEASIBLE USE: This category is to consider the fmancial feasibility of the permissible and possible uses that would produce the highest net return to the site. It has been established that the location in relation to the University and the downtown area is central and easily accessible to most points in the Borough. It has also been noted that there is a shortage of student housing in Shippensburg to accommodate the growing enrollment. Taking these factors into consideration, it is my opinion that the highest and best use for the subject would be a commercial business on the first floor with a form of residential income space on the higher floors. 6 HIGHEST and BEST USE 'IMPROVED' The site is improved with a typical three story downtown storefront in the downtown section of Shippensburg. The location is central to shopping and other town center activities as well as the Shippensburg University Campus. The first floor is currently vacant, however is had been used for commercial purposes. The owner lived on the second floor and had students from the college on the third. Taking into consideration the location, in relation to the downtown area as well as the Campus, it is my opinion that the highest and best use with the present improvements in place would be student housing. 7 IDENTIFICA TION OF SITE and LEGAL DESCRIPTION The subject is located in the Borough of Shippensburg in a commercial area. The parcel can be further identified on Map 34-34-2415, Parcel 022 at the Cumberland County Assessors Office, Carlisle, Pennsylvania. The land is level and according to the Federal Emergency Management Agency Flood Map #420368, Panel 0001 A, it is located in Zone AE, considered to be the area of 100 year flood; base flood elevations and flood hazard factors determined. HISTORY OF THE PROPERTY The property was purchased by Donald M. and Janet L. Fuller on the 15th day of October, 1958 for the consideration of$30,000 from William I. Garling and Pauline V. Jensen, Executors for Mary M. Garling. 8 NEIGHBORHOOD and AREA GEOGRAPHIC DATA The subject property is located along the main Street of Shippensburg, known as West King Street. The neighborhood is mostly commercial use properties, including the Borough Hall, Post Office, Subway Sandwich Shop and other small businesses. The location is central to all downtown locations as well as to Shippensburg University Campus. There are also several older restored single- family homes in the area. Shippensburg has remained small despite the continued growth of Shippensburg University. The community of Shippensburg, settled around 1730, is located in the northern part of Franklin County and the southern part of Cumberland County. The county line dissects the town just west of the square at North Morris Street. The town. which covers 2,038 square miles, was named after Edward Shippen, who got a grant for the land from the heirs of William Penn. Situated in the Cumberland Valley between two mountain ranges to the south and east, farming is recognized as the basis of Shipp ens burg's economy. Cumberland and Franklin counties are located in south-central Pennsylvania, which is bounded to the north by New York, to the west by Ohio, to the east by New Jersey and the south by Maryland, West Virginia and a small section of northern Delaware. Both counties have diversified terrain with topography ranging from level and gently rolling to steep mountains. This terrain has provided a mainstay for agriculture as well as industrial and manufacturing opportunities. POPULATION and LABOR The population ofthe Shippensburg area as of the 1994 census was 20,454, an increase of approximately 8% over the 1990 census. The Borough of Shippensburg has 6,346 with 4,755 in Shippensburg Township; 3,416 in Southampton Township (Cumberland County) and 5,937 in Southampton Township (Franklin County). The average age for both Cumberland and Franklin Counties is 35 with those persons 50 and older composing 29% of the total population. EMPLOYMENT The most recent figures taken from the Bureau of Census in the U.S. Department of Commerce reveals the occupation of employed persons 16 years of age and older in this section of Cumberland/Franklin Counties are as follows: Management & Professional Specialty Technical Sales, Administrative Support Service Oriented Farming, Forestry, Fishing Precision Production, Craft, Repair Operator, Fabricator, Laborer 9 20.2% 26.4% 13.2% 4.3% 13.8% 22.1% TRANSPORTATION The location has much to offer with a network of highway systems servicing the area. Interstate Highway 81 and US Route 11 pass within three miles of the site with Route 76 (Pennsylvania Turnpike) approximately ten miles northwest. These major cities are located with 200 miles: Baltimore - 80 miles; Philadelphia - 168 miles; Pittsburgh - 165 miles; Harrisburg (state capital) - 40 miles and Washington, DC (national capital) - 82 miles. Cumberland and Franklin Counties are served with daily flights to Baltimore- Washington International (BWI) Airport; and the Greater Pittsburgh International Airport in Pittsburgh, Pennsylvania by US Air Express. The Harrisburg International Airport has scheduled passenger, freight and charter service. BWI, Dulles, Harrisburg International and Reagan National Airports are all within a 90-mile radius of Shipp ens burg. Bus service is by Capital Trailways for city to city travel. EDUCATION Shippensburg Area School District operates five educational facilities organized on a K-6, 7-9 and 10-12 plan. The grade schools enroll 1,707 with junior high having 655 and senior high having 612. The school district provides transportation for nearly 90% of its 2,700 students in grades K through 12. Shippensburg is the home of Shipp ens burg University with an enrollment of6,490. It covers approximately 200 acres in Shippensburg Township at the northwest side ofthe Borough with 35 major buildings including eight resident halls and a 50-acre sports complex. There will be a new academic building to house the John L. Grove College of Business. The University offers 50 undergraduate programs within each of its colleges. Wilson College, an independent liberal arts college located in Chambersburg, has an enrollment of approximately 855 and offers 17 major and 28 minor programs. Dickenson Law College in Carlisle and Harrisburg Campus of the Penn State University in Highspire offers full degree programs. 10 COMMUNICATIONS The News-Chronicle, a bi-weekly publication based in Shippensburg, serves the local residents with a circulation of 12,400 per week. The Valley Times Star, also a local issue, is printed once a week on Wednesdays with a total of3,100 issues published. The Chambers burg Public Opinion, the Carlisle Centinal, and the Harrisburg Patriot, all daily newspapers also service the Shippensburg area as does the larger city papers, the Washington Post and the Baltimore Sun. The area is also serviced by four AM and five FM radio stations. Local cable TV is available through Comcast Cable of Chambers burg and Kuhn Communications of Shippensburg. UTILITIES Electric service to the Shippensburg area is provided by the Adams Electric Company, the Allegheny Power Company and the Pennsylvania Electric Company with natural gas by the South Penn Gas Company. Water supply is by the Shippensburg Borough Authority with a supply of 1.49 million gallons per day and an average usage of 1.6 million gallon per day. Wastewater management is by the Borough of Shippensburg with a 2.75 million gallon per day capacity. Cumberland- Franklin Joint Municipal Authority has a total sewer capacity of 800,000 gallons per day. Sprint United Telephone offers regular service with cellular service through Cellular One of Carlisle and 360 Cellular of Harrisburg. 11 ECONOMIC STRUCTURE The economic structure for the area of Cumberland-Franklin Counties seems to be steady and stable. As stated previously, farming seems to be the main stay of the area supported by the following employers: Employers Employees Shippensburg University Ingerso ll- Rand Hoffinan Mills The BeistIe Company Shippensburg Area School District General Castings Domestic Division Cressler's Trucking Company Franklin Clothing Company RASKAS Foods 700 650 540 530 327 142 132 92 90 A recent downsizing ofLetterkenny Army Depot has resulted in the loss of numerous area jobs in the entire Franklin County area. Generally speaking, recent tax regulatory changes at the state level are providing all of Pennsylvania with a better climate for business. There is no inventory tax or tax on equipment; workers' compensation rates have reduced since 1993; there have been recent reductions in business taxes and additional ones are anticipated; legislation concerning industrial site refuse has been passed. Locally the real estate taxes are imposed by the county, municipality and school district. Cooperation between local development corporations and local municipalities, the lowest local taxes in Pennsylvania have helped create opportunity for growth. 12 METHOD OF EV ALVA TION The Appraisal Process "The appraisal process is the orderly program in which the data used to estimate the value of the subject property are acquired, classified, analyzed and presented. The first step is defming the appraisal problem, i.e., identification of the real estate, the effective date of the value estimate, the property rights being appraised and the type of value sought. Once this has been accomplished, the appraiser collects and analyzes the factors that affect the market value of the subject property. These included area and neighborhood analysis, site and improvement analysis, highest and best use analysis and the application of the three approaches to estimating the property's value. Appraisers generally use three approaches to value: The Cost Approach, the Sales Comparison Approach and the Income Approach." Cost Approach In the Cost Approach, accrued depreciation is deducted from the cost new of the improvements and this is added to the land value. The resultant figure indicates the value of the whole property. Generally, the land value is obtained through the direct sales comparison approach. Reproductions cost new of the improvements is estimated on the basis of current prices for the component parts ofthe building less depreciation, computed after analyzing the disadvantage of deficiencies of the existing building as compared to a new building. Sales Comparison Approach The Sales Comparison Approach is used to estimate the value of the land as if vacant and/or the whole property as improved. The appraiser gathers data on sales of comparable property and analyzes the nature and condition of each sale, making logical adjustments for dissimilar characteristics. Typically a common denominator may be price per square foot, price per unit, or a gross rent multiplier. The direct sales comparison approach gives a good indication of value when sales of similar property are available. 13 Income Approach The Income Approach is predicted on the assumption that there is a defmite relationship between the amount of income a property will earn and its value. This approach is based on the principle that value is created by the expectation of benefits derived in the future. The anticipated annual net income ofthe subject property is processed to produce an indication of value. Net income is the income generated before payment of any debt service. The process of converting it into value is called capitalization rate. Factors such as risk, time, interest on the capital investment, and recaptuare of the depreciating asset are considered in the rate. The appropriateness of this rate is critical, and there are a number of techniques by which it may be developed. Reconciliation A fmal step in the appraisal process is the reconciliation or correlation of value indications. In the reconciliation or correlation, the appraiser considers the relative applicability of each of the three approaches used, examines the range between the value indication, and places major emphasis in the approach that appears to produce the most reliable solution to the specific appraisal problem. The purpose of the appraisal, the type of property and the adequacy and reliability of data reanalyzed. These considerations influence the weight given to each of the approaches to value. In analyzing the three approaches to value, it can be readily observed that most of the information pertaining to the fair market value of the subject property must be derived from the market place because the appraiser anticipates actions of buyers and sellers in the marketplace. 14 DESCRIPTION OF IMPROVEMENTS The subject has three separate levels. The front section is a three story brick and masonry building with steel beam construction. The front and sides are stone. The middle section of the building is two story and the rear section is only one story. The steel construction directly relates to the good present condition in that it has prevented sagging. The total square footage in the building is approximately 6,764,3,752 square feet on the fIrst floor. The apartments above contribute approximately 3,012 including hallways and entrance areas. The brick garage has 345 square feet. A glass storefront with an entrance on the south side opens into the fIrst floor commercial area, which is at present a large open room. Also on the floor are 2 rest rooms, a furnace room and another large room to the rear additional storage with pedestrian door for rear access. The door on the north side of the building leads to the second floor apartment. The interior floors are tile and the walls are plaster with some paneling. Outside light is visible through glass block windows on the north and south sides. The ceilings are tile with fluorescent lighting. Heat is provided to this area by a gas fIred furnace. This floor has central air conditioning. The second floor was the home of the owner until her death. This apartment has a kitchen, with stove remaining, a living room, dining room, two bedrooms and two full ceramic tile baths. The walls are painted plaster and floors are carpeting. The third floor can be accessed from this apartment or by a rear entrance over the second floor apartment or be closed off from the inside. There are three bedrooms on the second floor, a kitchen living area and one full bath with steel shower stall. Heat is provided to these floors by a separate gas fIred warm water furnace. To the rear of the building, adjacent to the first floor storage room is a brick one-car garage, that can be accessed from the rear of the lot. All areas of the building seem to be in good condition considering the age. 15 Income Approach The Income Approach considers the estimated gross income the property may expect to generate making due allowance for expenses incurred in the operation ofthe property. The result is the net operating income, which is then capitalized to arrive at an indicated value for the subject property. The subject property is currently vacant. It was leased to the Shippensburg Gas Company for many years, then to several other commercial tenants. The second floor was occupied by the owner, and the third floor was home to 8 college students. In order to develop an income approach for the property, the rents have been estimated, based on the other similar rentals in the area, using the second floor as student rental space for approximately 10 students. Also, rent for commercial space in the downtown Shippensburg area was estimated, based on other leased buildings with a similar use in this and other downtown areas. Other Area Leases Commercial: # 1 On the square in Shippensburg, a 2,200 square foot office area rents for $1,400 per month triple net lease #2 West end of Shipp ens burg Borough, retail space at 6.00 per square foot 5 year lease with option $500 per month, triple net # 3 Small commercial retail in Chambersburg $525 per month Residential. # 1 Student Rentals Roxbury Road $108 per month each student #2 Student Rentals North Earl Street $160 per month per student NOTE: The last students to live in the subject property's third floor paid only $80.00 per month per student. This rent was kept at a minimum, since the girls were long time tenants and took care ofthe property. The rent for the third as well as the second floor has been estimated based on other student rentals in the area. First Floor Commercial 1,000 per month 3rd Floor 8 Students @ $125.00 per month = 2nd Floor 6 Students @ $125.00 per month = $12,000 12,000 9,000 Total estimated rent $33,000 16 Effective Gross Income The effective gross income is the income the property will generate after the allowances for vacancy and credit losses are deducted. Gross Annual Income Vacancy and Credit Loss (10%) $33,000 3.000 Effective Gross Income $30,000 Vacancy and Credit Losses The allowance for vacancy and credit losses is taken to cover any loss of income from a unit being vacant for a period oftime as well as any non-payment of rents owed to the lessor. Because rental history of the subject as well as the demand for student rentals in the Shippensburg area, only 10% has been set aside to cover any unforeseen loss from either situation. 17 Operating Income Those expenses incurred by the owner/investor in similar area rental property situation vary with each landlord. Typically the real estate taxes, insurance, and any maintenance reserves are those expenses for which the lessor is responsible. In the case of the subject property, the tenant would assume responsibility for the utilities. The replacement reserves are estimated at 10% of the effective gross. This item is typically higher in units occupied by students, due to the number of persons per square foot. A management expense has also been deducted, as frequently for this type of property, the rentals are handled by a third party. 10% seems to be the going rate for this service. Real Estate Taxes Insurance( estimated) Reserves for Replacement (8%) Management T ota! Expenses $2,970 800 2,400 3,000 $9,170 18 NET OPERATING INCOME The net operating income is found by subtracting the operating expenses from the effective gross income. Effective Gross Expenses NOI 30,000 9.170 20,830 A survey of current interest rates presently available in the area lending institutions was conducted. This survey indicates a possible 80% loan to value ratio with fixed and variable rates ranging from 8.15% to 9.50%. Rates vary with each lending institution according to the individual investor, the local market, present rates available as well as the property type and amount of overall risk. A local experienced businessperson could expect to receive a 10% return on his investment. A typical situation could be an interest rate of 9% for a period of 15 years with the investor contributing 20%. Annual Net Operating Income Mortgage Equity 80% X .121716 = 20% X .100000 = .097373 .020000 Overall Rate .117373 $20,830 divided by .117373 $177,468 Indicated Valoe by the Income Approach $177,000 19 SALES COMPARISON APPROACH The Sales Comparison Approach analyzes the sales of properties similar to the subject. Those sales are selected on the basis of size, location, accessibility and the use of the land surround as it relates to the economic state of the area and conditions of the sale. Sale # 1 Location: 39 East Baltimore Street, Greencastle, P A Date of Sale: February 8,2002 Consideration: $156,500 (26.08 per sq ft) Deed Reference: New Deed Not Recorded Map Reference: 2B-29-38 Land Area: .17 acre Grantee: Duane Kinzer Grantor: HMS Enterprises, Inc. Building Size: 6,000 square feet Condition: Average Description: A three story commercial building located in the downtown area of Greencastle. The first floor is commercial retail space and the upper floors are residential apartments. " \ / ~ 20 Sale #2 Location: 107 -109 South Main Street, Chambers burg, P A Date of Sale: March 13, 2000 Consideration: $132,000. (39.20 per sq ft) Deed Reference: Volume 1489 Page 388 Map Reference: lC-57-139 Land Area: .05 acre Grantee: Richard and Bonita Crawford Grantor: Konstantios and Dimitra Tsortos Building Size: 4,588 square feet Condition: Average Description: A three story brick structure containing approximately 4,588 square feet. The fIrst floor is being used as a neighborhood restaurant. The second and third floors are residential apartments. The property is in fair to average condition. 21 Sale #3 Location: 123-125 South Main Street, Chambersburg, PA Date of Sale: August 20,1999 Consideration: $135,000 ($22.06per sq ft) Deed Reference: Volume 1447, Page 119 Map Reference: 1E-1-5 Land Area: .12 acres Grantee: John Baker Grantor: Glenn and Catherine Dice Building Size: 5,666 square feet Condition: Fair Description: A three-story structure located on South Main Street, This property has a main level storefront and four apartments on the upper floors. (The square footage of a rear addition has not been included since it added little value and was be removed.) Condition is inferior to the subject. 22 Sale #4 Location: 60-62 Lincoln Way West, Chambersburg, Pennsylvania Date of Sale: January 5, 1998 Consideration: $150,000. ($24.47 per sq ft) Deed Reference: Volume 1362, Page 433 Map Reference: lC-57-34 Grantee: Ronald A. Lamascus Grantor: Shirley M. Paulis Land Area: .16 acres (40' X 177') Description: A 3 story brick building with a two story addition to the rear located just west ofthe subject property. It is similar in age to the subject. The second floor has been remodeled and is used as an apartment. There are a total of four apartments and approximately 6,129 square feet. 23 Analysis of Comparable Sales The comparable sales were analyzed and adjustments were determined that reflect the market reaction to those items of significant variation between the subject property and the comparables. If a significant item in the comparable property is superior to or more favorable than the subject, a minus (-) adjustment is made, thus reducing the indicated value ofthe subject; if a significant item in the comparable is inferior to or less favorable than the subject, a plus (+) adjustment is made, increasing the indicated value of the subject. Subject Sale #1 Sale #2 Sale #3 Sale #4 55-57 W.King 39 E.Baltimore 107-109 S.Main 123-125 S.Main 60-62 L WW Shippensburg Greencastle Chambersburg Chambersburg Chambg., PA Sale Price N/A $156,500 $132,000 $135,000 $132,000 Price/sq ft N/A 26.08 24.47 24.47 12.22 Date of Sale N/A 2-8-2002 06-02-0 I 01-05-98 03-13-00 +5,000 +3,500 Location Urban Urban Urban Urban Urban Age 30 yrs 75+ yrs 75+ yrs 75+ yrs 75+ yrs Condition Good Inferior Inferior Inferior Good +10,000 +10,000 +20,000 Square Feet 6,764 sq. ft. 6,000sq. ft. 4588 sq. ft. 5,666 sq. ft. 6,129 +7,600 +21,800 +11,000 +6,400 Other Bldgs Garage 345 sf None None None None +2,500 +2,500 +2,500 +2,500 Site Size .16 acre . 17 acre .05 acre .12 acres .16 acres +5,000 Parking Off Stlrear Street Street Street Street +5,000 +5,000 +5,000 +5,000 Total Adjustments +25,100 +44,300 +43,500 +17,400 Indicated Value $181,600 $176,300 $178,500 $149,400 24 Reconciliation: Sale #1 is located in Greencastle, a small town south of Chambers burg, similar in size to Shippensburg. The economy is considered to be similar. It is a storefront with apartments above. Sale #2 is located in Chambersburg, mid-block and is used as a restaurant on the fIrst floor with rentals above. There is no off street parking Sale #3 is also located in Chambersburg. At the time ofpurchase, it was in fair condition, with much work to be done. There were residential apartments above. Sale #4 is on Lincoln Way West, the main street through Chambersburg. The owner lived on the second floor and the condition ofthis apartment was similar to that of the subject. There is a retail store on the fIrst floor. This is an older sale and properties in the downtown Chambers burg area have seen a signifIcant increase in value in recent years. The adjusted range of value of the comparable sales is from $149,400 to $181,600. In my opinion, the estimated value of the subject property is $178,000. Estimated Value by the Sales Comparison Approach (rounded) $178,000 25 FINAL RECONCILIATION AND VALUE STATEMENT Indicated Value by the Cost Approach NIA Indicated Value by the Income Approach $177,000 $178,000 Indicated Value by the Sales Comparison Approach In determining the fmal market value for the subject property, three approaches to value were considered. The Cost Approach was not used, due to the age of the building and the inaccuracy in the determination of depreciation. The Income Approach was analyzed, using rental data from the Shippensburg market, since the building is now vacant. Rental property in Shippensburg is a good investment, due to it being a college town. Historically, the third floor has been rented to students of the owners choosing. It seems reasonable that if students were selected carefully, this could be an excellent source of income, as well as the commercial space on the fIrst floor. The Sales Comparison Approach reflects what buyers and sellers are doing in the market place after negotiating for similar type properties. There have been no recent sales of similar downtown buildings in Shippensburg for quite some time. Therefore, similar buildings were used from neighboring towns. The Income Approach is exceptionally similar to the Comparable Sales Approach. The Income Approach has been given principal weight. The estimated marketing time for the subject property is six months to one year. 26 Subject-Front View ~"""J~N> ;!v/ ~~ ?;p - -- <<- ~ -_.<--,-< -\-<<<-<<-<-<< <<---~.-<. ._<~.--..._-<._< <. < ..- < \ \ \\ Ii \ Subject-Rear View West Side View First Floor Front First Floor Toward Rear Rear Storage Room Second Floor Second Floor Living Room Second Floor Dining Room .---1 Second Floor Bedroom Third Floor Bedroom \ .....~''t ~,> ~1';; . "'1<""0 '....1~~. '.,. \ ..~..~ , 0.. "'"\. 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"roo Ge0S(-lfflilll, nn\\' of liir?lI' '1,,1. (~-' 1 J; Lll'?'lIce ;l] on:'. t.1H~ _l~P;U' pf S8.j d Tr.)C1 :\10. ","cs(,,'nrdl y t !I-J lot)' (_?on) [r.-pt. IlInl".~ or J_PS.c;, to a lH']c::t, \\ COl'f1("r of ~,~\d Tract f\o. wj LI.~ 1 nt' f,)rH1er1)' of Ha.1 p11 B. r;\r~UP ;lnd G~oree P;t.P;ljp, J'l0W nf J1o,."ard ',~ L_~'('ns; t~lp.n~r;, in H Nort".ll01"~ (l.irectif')ll till''? cont.inu{\'l':~ of t~l.l~ ',,,'t""ly ",lr-,,]/,llt Ii".. of said T'-'H't 1\0. flfty-two (.)2) 1'.,,',t ten ( J () ) i 11 r: 1l \' ~ -t: (I ;:-1 t' n :; t n II it i ~ tl bl i c ;,.1 ) e y r tJ n n in f': bet-. \'J f! (' 11 ;'\ r. ~ 1 ~);l r;>, J 1 ,., ] \'I.'ittl 1\0~,t. l\\nH c.tr.....,."t :...1~" \'..tpsl PlIr'!' 5tre4?t; th0:IC0 E....,~t\'...\l~lJ.:,. ':",~cnf': S;:.i:l ;-lll"'r tt1jrty-t,,,'n ("s?) fpnt to .:' poc.:;f:, l~llf" cnl'n"'l or Jot or ) j,.;"p hr. rril.1 t:Jlfl!llCf"l! ;tlqnfT .s;,ld (;11J ]ot'. 5')I.f:I1......IJ<11\. firt,._l_\.rq (~~)) 1'",-' 'c." 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IlIld singulal' _ .. - _ _ _ __ _ _ _ _ _ _ _ _ rull!!S, I",nf(':/'s, INl t ('r('OIl/'SI'S, /'i!} li fs, lib('/'tics, !/rillllegcs, hCl'cdil a 111 ('nt sand (( P/ill rt('- 7Wnt,,'s wliaf.,'o('l'I'1' fh"7'(',[Ut/O !J('lrlllsiin!f, or in (Ulflwis(' app('rlllinint!, and thc 7'l'7'er- .~io71 s II.I/({ 1'1'7I1aill17,'7'S, 7'enfs, issnes fl.nd projits Iher('of ; (l,lIrl also n!! the estat e, I'i !,ihl, lill,', ill/e/'n'l, n~e, Il'ilSI, ///'o/le/'I!I,j/()Ss"ssion, c!llilll. and d(,l1I.ru/.(lwha.fsoel'(,7' "r I.h.... ~i'id !,-i;~ry 1<1. (;';,1rI1nl'" ;-~t ;..l1d imnl(Hlj~-ttJ'l)' hnfot,~ .-1'0 tinl"'" of 11" r de c 0 ~ ~ r.-. _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ in Inll', ('llnilfl, Ol' ollll'/'II'isl' liml'sol'l'el', oj, ill, III o/' Old of llie sallie: @('l 11nbc nll~ h.."1 11......l;:, Ihl'said lw" tr;IetCi "r '''wl hl'!'l'lli/ ((.1/1,('.nfs a.fl.d JI/'onises h el'd).'! SfI'fl.lIlcd IUMl I'd ('Il-se II, o/' III e /II lOlli'll a 71 d inl ('n rl ell SOIO/H',wilhlhrap/)l/l'lellall('('s,lInlolhesaid t;nlnlec". t.""ir "eit.,.. - -- _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ (11111 ((ssijns, 10 (f.//flfOI' 0/.1' O!l!Y!/!'''pc/, Ilse 1(I/A11I;lumj of l!/.I' Sfl.id. ""<'Ille"s, lI",it' "".;..,,- - - - - o!' r/.ssiff /I .I' f OI'Cl!I'/', ;t.5 t en:l.nf- ~ by Ptlf: j "0t. 1 PS, ,.nlt:l'llhr.,\'f1;r! (~rnnt()rc.;, ~~(,Clltnr's fln(l Trtl::>Lf'ec; ",ror~s., i,l - - - ('I11'i'lul.nf,!)I'olnisl',((,II,{.u,!:!'/'el',lo(l.nd/l'iihlhesaid Gl'<,"h~('<;. tll"I,' 11,,1,',. - _ _ (Wlrl assirllls, bfl Ihcse fI/'/'s('llfs, II/(d tl,,~y Ih,. sail! t:l'~,l'{ OJ'S III/v" no! done, cOlnlni!ll'fl, or k II owingl!! 07' wlllintil!! s/llle7'l'd t () 1)1' donI'. or COlli7/! il f ('11. ({II!I ({I'f, Ino!ln' 01' Ihlll!! 1('!wlsl)('l'I'I',l('hel'r/!!1 flit' !"'c7nisl's h('7'eb!! s[1'(llIfed, 0/' ({II!! !){{/,I 1111'/'1'0/. Is, al'(', shull 07' 1IUI!! bl' impeach"d, e!lIrrg"d ()I' III I'ifn1l)('1'I'I/, in lilll'. ('h fl./'!!,!', I'sl al c. o/' of henri,"I' h Oif'SOI'f.'CI', 11n ltlilJlc~~ lU!)crc......-r, flu'. s({fll Gf':\nlor" - - - - - - - - - - - I ! ~ ".' ('> herennlo sel tlH> j r !ulIul", alld se((l ~, fh(' r71l?f (lIU! ,'/,'((1' U (, fIf'('. II'rlllrn, .1/ , l 17'/; ) )(. I,., 1?:;C?~"~~7 ., t J) ".~t/;'cc /';~~' -:~ / (~ ,~) ~~ ~ S'JtA.J... \O-;S'"'" ,\','((I('(l nnrl Ildil'i'/'I'd in Ihe I / !17'I'S('/lI'" 01 ) ! ! / / (. ( j /'( fr' ) ,I Ex"cut.OI:S and Tn!..1",'" ,,( fti.l:~ last II') J J <I.n'l T<'Sln".""t of' ~'al'Y ~i. GHrJing, df~CP~~pd. ~~ r.\TE IlF l'E\':\<.;YL\'.\:\L\, ss: I' '()Il:: r\" ll! Cumb,~ r L;:'t nd , 'IJ' UIIII/(. 1';.1h (!((.!Ioj Ii '.'" ( in t.hc !!"Ill' vile Ihollsu/ld nine hifnd7'l'r!a/ld rj.[t~,-,'i.GI111)elo7'c71/'(', Ihcs({.bSl'l'ib(,7',..Jl.~'(>t;)t.)' ]',,1,1 if' in "t,,~ f0t' ~aid _5.t:at~ nnd._.cour~.t}' crl1/1.r/l/rn!Jovf'-7l(('/}lJ',d,Wi]]iam T. Gnr-line: and Paulinll V. J('>n~f'n, '11...q-s 0nd Trl,I~:d.r'f"'!~ nr th,..,. JClC,J'. WJl:l and IPstanlf":'nf (,r r:..~r.... ,- (;;') 1 i !H', I J)('>r;"~ ."'f'cl , ((.fit dul',. Jrcknowl('d!!rrllhr; a.liOl'(!.lndclI!urC lobc t;1rei r ad IUI"rlc~d, (/.1/(l (lesll'I'r!lhc sa liI " lIIiffhl bc r('cordcd as such, :::x nc- T 1, 2'('\>Y cert. i fy ,.,..,., d,..w~(' 0" t.ho ('1' hin,"nSo.lrr., rf'nn~~:'l "~ni.;;,. ,. .~. ....:.:~l _ ';"~~.t.I~, . "'0' ........... VJ>.' IV'i1 ness my }tfl!1fJ (wd ~ f) t "d <I l) .s;;.fi;r.--'~~...'!""- ~>, '(' / '/ i '. ;' "- :, ....." ',,0 '-~',i ': Ii )" . (1.J;'il' -"';..i-;";- _~C.UilJ,--...L I . ~.::.!-_---t\~--:;.-~~cWto. j "J . ~'i.\l n tD,j, ni rw; an 0 f'f i en i fl t 11P\.: n \,n,.l.r..o1h ,.~:;..- tf i" . SIll pi'ensl",l'f;, (;,,,,,I>,,,,J "lid C:p,I'l~S.v:(-'flH",~.r",,~, . "" '" -.' '~"':r r>'! r",.'i:"C' .. .r<t?. V"' \,; ~",~' ~,11i ;:_pr no I.",,! f- 1'1, '. f.~~,:I::~~';.I!fC"j,;JtJ (O\H"l') .~ .l do '''''''''Y CO('I" if)' tllid ItOl"OI'r:tl nf ~\\i: l'llp.n~\)lll'<'_~, III n t 11" (. {" i ~ i"~ r (\ 'I''; i d f~ f1 C P I) r t I, t3 r; r' ,I n l P. P. "-~ (~'IH\hpl ';lllfl CCHlTll y, ~. /~I'I'~Y 1 v;1llit:l . \ J " ~'7 f' ....~ ),. ~ ~ ~~ o Z o '" 'cD cD m :J Rff) ~ <1l " ~ :J o '" ... .8 :J () 0) l< W <., o III eu d' "' v: . :':I; ~ f-<. ';.1 C. '" '" ~. (; ... (; <:> x It) v C d' [; rI +' :r, Q! 1-< .,,, 'rl >.~ .j.> '" '"' r' ~) .I: ....' G' '+-< .... :;: ri'; "f .'Ii III .-< .r.~ '':'~ r:", ;1 l~: I o . IT ,,' ~ -1 ., ~-.) I.', ;.:.. (-~ ..j ", .~ }~ ~ ,r. ') "(J :A QI ~~ :J ~ .. ,;,: 01 ,. II "'" a> Q c. ~:l /,' State of Pennsylvania, '1 " l'i:'L(r}~cL.-- Coun-if/of f'\'\' . .f'._ c ;. r ,'I, n, 1'(1 s: I' JRe...."ri)...i) 01/. Ihis ;' '/ ell 7fJ .r;r iJ/ flll' Recorder's Offlce :j said J:3 I I +) r ;..\ tf\.r!.,.., .lJ M If) .~ C Il) :J o t.> o C< -, ;;. - ~ t. '" ~) ~ >, ~ ~ 8 i.... c -~ " !}, ,f) tr, d... -, .... G V G 'I) (.) l< ~ , /. r 'I:' c' r: b'\ tJ (t. ":1 r. ::l r; C',.. ( l. .., :< .. Q' o .0 ~ m r:: ".:.. ') 0.'- () f..... 1'_ ..... Co l!~, .v I .p 1("\ C o In -f"" _1 It ~ II) +> ~ ;: ~ (-, .'G Cl GiI'ell /ludrl' my l1alld (/nd {!lr snrl nj 1111' said OfFer, Ihe dule ab()]!r /I'1';;'I('tr, /-1'../' I ...,1. .- l.~>~" '(~~';-/_C-'..f:_>::/':-!J/ ,/ o ('"-, ~ 'f\, .... 1< ., .D o +" o () t"J:., (t %. .,; " ~ '- .. ';,\ '"'- r"':," ..... ~ d ~ ." ......""-.,) ~ Uj.~ r; Q' o:~) ...j ..::: ....... ,Ia.!} of / I ('ollnly, ill j)('{'d jJook. Vol. .-" . , l ......-#' \,., k, ,i.,. S 150-16 ZONING S 150-18 students per/acre, but in no case more than fifty (50) students in a building. (m) The minimum lot size per building for II fraternity or sorority shall Le one (1) acre. ARTICLE IV Commercial Districts ~ 150-17. Purpose. The commercial district is designed to provide for the needs of the Borough of Shippensburg central or downtown retail business area and to clustel' and encourage their development in limited areas and to exclude certain incompatible- uses to encourage commercial development. In those commercial areas outside the downtown commercial district is planned to encourage appropriate development providing for more intense commercial uses, including service-type establishments necessitating access to I'clail establishments or industry. ~ 150-1B. C-l Commercial-l District. Use regulations for the C-l District shall be as follows. A building may be erected or used and a lot may be used or occupied for any of the following purposes and no other, provided that each use shall comply with the area, height and special design requirements of Subsection 1(5) below: A. Any use permitted in an R-5 Multiple-Family Residence District, with such rcstdctions in lot area llnd yard size as required for uses permitted in an R-S zone. D. Retail sales and professional uses as follows: (1) Sale of any product from within II building, household goods, antiques, llutomobilcs, automotive parts and supplies, wearing apparel, hardware and groceries. 15045 10 - 26 - 00 S 150-18 SIIlPPENSBUHG CODE ~ IGO-18 (2) Dnnks, insurance/tmvel agencies, personal services such as barber and beauty shops and dry-cleaning and laundry establishments. (3) Preparation and sule of food nnd/or drinles for consumption on the premises or elsewhere. (4) Professionul offices, including medical doctOI'S, lawyers, chiropractors, surveyors, psychologists, realtors and consultants. (5) Warehousing. (6) Any business ofa similar type or natul"C. C. Student houses, subject to the special design criteria of ~ 150-14A(4), provided thut no more than seventy percent (70%) of the strucl.urcs on any block shall be student houses. D. Trailers or mobile homes shill! be permitted in the nrea bounded by Locust Street, Conrnil, South Morris Street und Nehf Avenue. The following conditions shall apply: The mobile home or trailer shall be anchored to the land in such manner as to prevent its blowing over or being swept away by flood. E. The following uses, when authorized by the Zoning Hearing Board, as a special exception, subject to those standards specified in 9 150-53: (1) An indoor place of amusement, recI"eation 01' assembly, including a theater, arcade or other sllch activity. (2) A craftsman's or general service shop, including plumbing, heating und machine tinner's shop. (3) Motor vehicle sales and service, provided that all the facilities arc located and all services performed within the confines of the lot. (4) Convenience store. 150-16 10 - 2S - 00 ~ 150-18 ZONING 9 150-18 F. Accessory use on tlte sume Jot nnd incidcnlul Lo the above permitted lIses, including storage in conjunction with retail or permitted llses. G. Signs, when erected, shall be in conformity with tlw regulations of Article XI, hereof. H. Area, height and special design regulations. Every building llsed exclusively as a dwelling shall comply with the area find height regulations prcsct'ibed fOI" the R-5 Residence Districts. I. For buildings or structurcs used in whole or ill part for commercial uses, the following shallllPply: (1) Lot area. In the case of dwelling or use as au apartment in combination with a business, a lot area of not less than three thousand (3,000) squure feet per dwelling unit shnll be provided. (2) Duilding urea. Not more than seventy percent (70%) of the arell of each lot may be occupied by structures. (3) Yards. Front, side and rear yards shall be provided on each lot as follows; (a) Front yard. One (1) yard, not less thlln ten (10) feet in depth, subject to the provisions of 9 150-36. (b) Side yard. None required when 11 building or structure is used exclusively for commercial purposes, provided that when a lot abuts n residential district or a street on the side lot, then a setback of ten (10) feet shall be provided. Where side yards llre providod when not required, they shall be no less than five (5) feet in width. (c) Rear yard, A rear yard not less than twenty (20) feet in depth shall be provided. 15047 10-25-00 9 150-18 smpPENSBlJRG CODE 9 l50-19 (4) Height regulations. No structure shull exceod seventy-five (75) feet in height, measured from the grade of the lot, except a hotel or office building which mny exceed slIch height whenllULhol'ized os 11 special exception by the Zoning Hearing Board. (5) Special design criteria. In order to encourage soulld retail nnd commercial development and to protect the existing retnil nnd commercial uses in the borough, the following special requirements shall apply: (0) Permitted uses sholl be conducted wholly within n building or stmdure. (b) Merchandise. equipment and articles shull not be stored outside a building or structure, except when in a secure, fenced area." screened from neighboring properties by vegetation or othel' means. (c) No operation, equipment or use shall he objectionable or noxious. oITensive or hoznrdous as defined in 9 150-5, Definitions. (d) Where hozardous, flammable or toxic chemicals are required to be stored on or in II building or structure, they shall be secured in accordance with Department of Environmental Resources and/or Environmental Protection Agency guidelines or the Fire Chief of the borough. (e) OfT-street parldng and loading areas shull be provided in accordnnce with the provisions of the Subdivisioll and Land Development Chapter. ~ 150-19. C-2 ComIncrcinl-2 District. A. This district is intended to provide opportunities to property owners to develop commercial and professioIlol uses in existing structures to meet the specific needs of 150-18 10 - 2G - DO g / "fi 11',1 ~ Lllfl ~JIP o ~ :r I ~ z Ii: ~ ~ :::> ~ moo Ii 1 ~ ~ ;;J Z [l. () 5 III Ii: m ~ ~ 0 155:~ I I '-l I' I' ~ .3 1 , oj ~ II1 ~ ) ) ~ ~ o ::I ;?; I ~ ~ ~ ~ o 0 3 t ~ ~ R ~ o In r:: - CJ ;?; 0 ~ ~D~m I o Z I---l Z o N ICl <0 r-- ~ ~ ~ ~ 9 a 0 15 ~ ~ - ~ n:: n:: ~ 0 Uillj~ ii i i _ 900 ~ ~ i7i i7i 0:: 0:: W W m1~~1i ~ <r: :=g 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 ofa sale as ofa specified date and the passing of the title from the seller to buyer under conditions whereby: (1) buyer 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 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 LIMITING CONDmONS 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 the matters ofa legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore will not render any options about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser ",ill 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. 4. The appraiser has distributed the value of the property between the land and the improvements in the cost approach to value on the basis of the existing use of the property. These separate valuations must not be used in conjunction with any other appraisal and are invalid if they are so used. 5. The appraiser has noted in the appraisal report any adverse conditions (such as, but not limited to, 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, the appraiser has no knowledge of and hidden or unapparent conditions ofthe property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or 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, the appraisal report must not be considered as an environmental assessment ofthe property. 6. The appraiser obtained the inlOrmation, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 7. The appraiser will not disclose the contents of the appraisal report as provided for in the Uniform Standards of Professional Appraisal Practice. 8. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfilctory completion, repairs, or alterations on the assumption that completion ofthe improvements will be performed in a workmanlike manner. 9. The appraiser must provide his or her prior written consent before all (or any part) of the content of the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm ",ith which the appraiser is associated) can be used for any purposes by any except: the client specified in the report; the borrower ifhe or she paid the appraisal fee; the mortgagee or its successors and assigns: the mortgage insurer: consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency or instrumentality of the United States or any state or the District of Columbia. The appraiser's written consent and approval must also be obtained before the appraisal (or any part of it) can be conveyed by anyone to the public through advertising, public relations, news, sales or other media. Page I of2 ~ APPRAISER'S 2001 USPAP CERTIFICATION: I hereby certify that, to the best of my knowledge and belief; 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and Wlbiased professional analyses, opinions and conclusions. 3. I have no present or prospective interest in the property that is the subject of this report and I have no personal interest or bias with respect to the parties involved. 4. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. My engagement in this assignment was not contingent upon developing or reporting predetermined results. 6. My compensation is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause ofthe 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. 7. My analysis, opinions, and conclusions were developed. and this report was prepared, in conformity with the Uniform Standard of Professional Appraisal Practice. 8. I have made a personal inspection of the property that is the subject of this report. 9. No one provided real property appraisal assistance to the person signing this report. APPRAISER: J / /? Signature~-I,:a1<l~-::L 7;;~'lf ':1?r;.,<:'d; Name: Barbara Horn Boock State Cert/License #: GA 00960-L State: Pennsylvania Expiration Date: 06-2003 Date Sl.gned-, j"/ '" " " -7 P ..,.."""7 "\. -~-'t /.'7.,' _fr: <:X' G' (...,----- t..-.,-i.'; <,;:>( / v Page 2 of2 10RII & CO APPRAISALS Barbara Horn Boock CERTIFIED GENERAL APPRAISER Federal Tax 1D 23-2879694 PA License GA-000960-L MD License 10726 Phone (717) 264-4296 Fax (717) 264-0316 APPRAISER'S QUALIFICATIONS DATE COURSE EDUCA TlONAL SPONSOR HOURS COMPLETED Real Estate Law Real Estate Institute of P A 30 12/77 Real Estate Appraisal Institute of Real Estate Studies 30 10/86 OR! #1 P A Realtors Institute 30 02/87 OR! #2 P A Realtors Institute 30 04/87 OR! #3 P A Realtors Institute 30 04/87 Real Estate Management Academy of Real Estate 30 11/87 Appraising Small Residential Westhead Appraisal Institute 7 06/90 Income Property Standards of Professional Appraisal Institute 15 05/91 Practice Sales Comparison Approach NAREA 15 10/91 Intro to Commercial Real Estate P A Realtors Institute 15 04/92 Appraisal Real Estate Appraisal Analysis P A Realtors Institute 15 08/92 Narrative Report Writing P A Realtors Institute 15 09/92 PA Fair Housing & License Law PA State University 9 10/92 Standards of Professional Real Estate School 4 04/93 Practice York Board of Realtors Cost & Income Approach Real Estate School 16 05/93 Appraisal York Board of Realtors Standards of Professional Real Estate School 4 03/95 Practice York Board of Realtors Appraiser as Expert Witness Real Estate School 16 04/95 York Board of Realtors Marshal & Swift Residential Real Estate School 7 10/95 Cost Approach York Board of Realtors Fair Housing & Licensing Law Educational Division of 7 03/96 Don Paul Shearer Inc. Basics of Real Estate Exchanges Educational Division of 7 04/97 Don Paul Shearer Inc. Uniform Standards of Professional Educational Division of 4 04/97 Appraisal Practice (USP AP) Don Paul Shearer Inc. Pennsylvania Appraisal Law Educational Division of 2 04/97 Don Paul Shearer Inc. Understanding Real Estate Pennsylvania Bar Institute 4 08/97 Appraisals & Appraisers Let's Get It Right Real Estate School 7 05/98 York Board of Realtors Uniform Standards of Professional McKissock Data Systems 7 04/99 Appraisal Practice Income Capitalization & Partial Education Division of 7 05/99 Interests Don Paul Shearer Inc. Tax Assessment Law and Education Division of 7 05/99 Appeals Don Paul Shearer Inc. Site Analysis and Site Education Division of 7 05/99 Valuation Don Paul Shearer Inc. 1998-2000 7-Hour Required Institute of Real Estate 7 05/00 Studies Appraisal & Analysis Unique Education Division of 7 02/01 Properties Don Paul Shearer, Inc. Contemporary Legal Issues Education Division of 7 03/01 Don Paul Shearer, Inc. Appraising Complex Properties Polley Associates Real Estate 14 06/01 Education '" PROFESSIONAL ASSOCIATION P A and National Association of Realtors Pen-Mar Regional Association of Realtors Metropolitan Regional Information Systems, Inc. Council ofP A Real Estate Appraisers, Inc. PA Association of Realtors, Appraisal Section Greater Chambers burg Chamber of Commerce Professional Women's Appraisal Association, #4134 PRESENT and FORMER CLIENTS F &M Trust Company of Chambers burg American Federal Mortgage Creekside Mortgage American General Finance Company CUNA Mortgage Company East West Mortgage First Mariner Mortgage Corp. SLM Financial Corp. Associates Relocation Group Nova Star Mortgage Chevy Chase Bank Allfrrst Bank Patriot Federal Credit Union Penn West Home Equity Services Lenders Financial Services Coldwell Banker Relocation Cartaret Mortgage Hagerstown Trust Company Affmity Mortgage First Equity Mortgage Corp. First National Bank of McConn ells burg Stars Mellon Bank Eastern Mortgage Services United Federal Bank Prudential Mortgage Company Chrysler First Financial Atlantic Home Funding First Vanguard Mortgage Corp. Orrstown Bank ITT Business Financial Constellation Federal Credit Union PNC Bank USDA First National Bank of Green castle First National Bank of Mercers burg Susquehanna Mortgage Corp. M&T Mortgage Corp National City Mortgage Flagstar Bank Citizens Bank of Southern P A American Federal Mortgage . Lq~\9S SINCE 1877 Phone (717)264-7693 121 South Main Street Chambersburg, P A 17201 Member, American Gem Society Ann Ludwig Wagner, Registered Jeweler Jane Ludwig Mentzer ESTATE OF JANET FULLER APPRAISAL OF JEWELRY Dec. 4, 2001 1. One lady's sterling silver ring contains 1- 14 x 10mm. rectangular faceted pale lavender glass. ESTIMATED FAIR MARKET V ALUE- $ 2.00 2. One lady's yellow gold-plate ring contains 1- blue and 7 clear glass stones. ESTIMATED FAIR MARKET V ALUE- $ 1.00 3.0ne lady's 14 karat yellow gold Diamond solitaire ring contains: 1- 1.90ct. Brilliant-cut Diamond Dia.- 7.79- 7.81mm. Depth- not available Cutting- good Color- I Provisional GIA Clarity- S11" " The mounting has a six prong white gold head and a 2mm. wide yellow gold shank. ESTIMATED FAIR MARKET V ALUE- $3500.00 4. One lady's 14 karat yellow gold, palladium, and Diamond solitaire ring contains: 1- .94ct. Brilliant-cut Diamond Dia.- 6.38- 6.45mm. Depth- 3. 72mm. Cutting- fair Color- H Provisional GIA Clarity- II " " The mounting has a six prong palladium head with a 2.25mm. wide yellow gold shank. ESTIMATED FAIR MARKET V ALUE- $850.00 5. One lady's 14 karat yellow gold, palladium, and Diamond solitaire ring contains: 1- .17ct. Brilliant-cut Diamond Dia.- 3.52- 3.55mm. P AOE 2. FULLER APPRAISAL 5. cont. Depth- 2.2mm. Cutting- good Color- J Provisional OIA Clarity- VS 1" " The mounting has a six prong white gold head and a 2mm. wide yellow gold shank. ESIMATED FAIR MARKET V ALUE- $100.00 6. One 14 karat yellow gold Diamond solitaire ring contains: 1-.31ct. Old Mine-cut Diamond Dia.- 4.7-4.82mm. Depth- 2.22mm. Cutting- poor Color- F Provisional OIA Clarity- VS2" " The mounting is an all yellow gold six prong belcher style. ESTIMATED FAIR MARKET V ALUE- $125.00 7. One lady's 14 karat yellow gold Diamond band contains: 1- .20ct. - .22ct. Brilliant-cut Diamonds Dia.- 3.8- 3.9mm. Average quality- Cutting- good Color- I - J Provisional OIA Clarity- SIl- SI2 " " The mounting has white gold fishtail heads set in a row across the finger. The shank is yellow gold. ESTIMATED FAIR MARKET V ALUE- $450.00 8. One lady's 10 karat yellow gold antique ring contains: 1- 6.8mm. round, faceted colorless genuine zircon The mounting has a 10 prong head and a 3.65mm. wide shank with an engraved design on the shoulders. ESTIMATED FAIR MARKET V ALUE- $75.00 9. One lady's 10 karat yellow gold black onyx ring contains: :. PAGE 3. FULLER APPRAISAL CONT. 9. 1- 15.6 x 13.5mm. cushion shaped flat black onyx The onyx is set in a full bezel with a 2mm wide shank. ESTIMATED FAIR MARKET V ALUE- $40.00 1O.0ne lady's 10 kt. yellow gold ring contains: 2- 4mm. round, green garnet and glass doublets 11- 1 mm. seed pearls ( 2 are missing) The mounting is all yellow gold and the stones are all bead set. The shank is 1.8mm. wide. ESTIMATED FAIR MARKET V ALUE- $25.00 11. One 10 karat yellow gold band is 3.9mm. wide and 1.35mm. thick. It has a worn design. ESTIMATED FAIR MARKET VALUE- $10.00 12. One lady's gold plate ring contains 1- oval light green glass stone. ESTIMATED FAIR MARKET V ALUE- $1.00 TOTAL ESTIMATED FAIR MARKET VALUE OF ALL ITEMS- $5179.00 Ann L. Wagner APPRAISAL OF PERSONAL PROPERTY OF THE ESTATE OF JANET L. FULLER. DECEASED. 57 WEST KING STREET. SHIPPENSBURG. PA ON FEBRUARY 1. 2002: Items bequeathed in Will: Bow glass oval picture frame (Janet's childhood picture) $ 35.00 Small wall mirror (etched cathedral style) $ 25.00 Oak wash stand with added mirror $ 110.00 Bow glass oval framed picture (family picture) $ 45.00 2-Piece living room suit $ 65.00 Cherry-finish end stand $ 15.00 Gone-With-the-Wind style lamp (electrified) $ 125.00 8-Piece clear glass water set (pitcher & 7 glasses) $ 75.00 Phyfe-type wall/card table $ 110.00 10-Piece bow front dining room suit including china closet, server, buffet, extension table, & 6 chairs..................................... $ 450.00 Large beveled wall mirror $ 25.00 TOTAL: $1,080.00 APPRAISEr? BY: [ i. ..?>4t;2..,~,. i /' . /' '/ J.JJe n,7U4 0' t;' .~.L ~ J' Dennis L. Gotshall, Auctioneer/Prop. Dan Hershey Auctioneering Service P A Lie. #AU-002306-L 3 Brown Road Shippensburg, P A 17257 APPRAISAL OF ADDITIONAL PERSONAL PROPERTY OF THE ESTATE OF JANET L. FULLER. DECEASED. 57 WEST KING STREET. SHIPPENSBURG. PA ON FEBRUARY 5. 2002: Framed 1927 Shippensburg High School class picture and Mr. Fuller's diploma Other personal diploma TOTAL: APPRAISED BY: 1 A!k~~ / .-a~LL Dennis L. Gotshall, AuctioneerlProp. Dan Hershey Auctioneering Service P A Lic. #AU-002306-L 3 Brown Road Shippensburg, P A 17257 $ 20.00 $ 3.00 $ 23.00 >I Il alll1rst Allfirsl Financial Center '\i .A. PO. Bux 900 Milbboro. DE 1,9966 Phone (302) 934-2909 Fax (302) 934-2955 November 21,2001 Zullinger-Davis Attorneys At Law 14 North Main Street, Suite 200 Chambersburg, P A 17201 Re: Estate otJanet L. Fuller Social Securitv: 180-10-6885 Date of Death: October 22, 2001 Dear Sir or Madam: Per your inquiry on November 5,2001, please be advised that at the time of death, the above-named decedent had on deposit with this bank the following: 1. Type of Account Relationship Checking W/lnterest Account Number 0020306652 Ownership (Names oj) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances 1. Bigler, POA 10109196 Opening Date Balance on Date of Death $20,902.08 Accrued interest $ i.37 Total 520.903.45 2. Type of Account Certificate of Deposit Account Number 80000002000090 Ownership (Names oj) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances 1. Bigler, POA 02/19/99 Opening Dale Balance on Date of Death $12,552,63 Accrued Interest $ 8.79 Total $12,561.42 ... 3. Type of Account Certificate of Deposit Account Number 80000002000091 Ownership (Names of) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Biglel~ POA Frances L. Bigler, POA Opening Date 02/19/99 Balance on Date of Death $40,046.90 Accrued Interest $ 28.04 Total $40,074.94 4. Type of Account Certificate of Deposit Account Number 80000002000092 Ownership (Names of) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA Opening Date 02/19/99 Balance on Date of Death $52,246.65 Accrued Interest $ 37.99 Total $52,284.64 5. Type of Account Certificate of Deposit Account Number 80000002000093 Ownership (Names of) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA Opening Date 02//9/99 Balance on Date of Death $/0,000.00 Accrued Interest $ 7.00 Total $/0.007.00 loo- ., 6. Type of Account Certificate of Deposit Account Number 80000002000134 Ownership (Names of) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA Opening Date 03/12/99 Balance on Date of Death $10,000.00 Accrued Interest $ 18.59 Total $10,018.59 7. Type of Account Certificate of Deposit Account Number 80000002000344 Ownership (Names of) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA Opening Date 08/26/99 Balance on Date of Death $90,000.00 Accrued Interest $ 365.50 Total $90,365.50 8. Type of Account Certificate of Deposit Account Number 80000002000767 Ownership (Names oj) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA Opening Date 12/04/00 Balance on Date of Death $10,000.00 Accrued Interest $ 33.78 Total $10,033.78 .. ... 9. Type of Account Certificate of Deposit Account Number 87008141002163 Ownership (Names oj) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA 11/21/97 Opening Date Balance on Date of Death $10,000.00 Accrued Interest $ 3.08 Total $10,003.08 10. Type of Account Certificate of Deposit Account Number 87008141017659 Ownership (Names oj) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA 12/18/97 Opening Date Balance on Date of Death $10,000.00 Accrued Interest $ 7.78 Total $/0,007. 78 11. Type of Account Safe Deposit Box Account Number /000571100014764 Ownership (Names oj) Janet L. Fuller, Owner Cynthia L. Hershey, POA Glenn J Bigler, POA Frances L. Bigler, POA 11/13/01 Closing Date This letter does not include an)' accounts in which the deceased may have been listed as Power of Attorney, Custodian of Uniform Transfers, Representative Pa)'ee. or Tll/stee under a Written Agreement. Forfurther account information. closures and/or reimbursement ofjimds refer 10 below branch: SHIPPENSBURG OFFICE 35-.39 EAST KING STREET SHIPPENSBURG, PA 17257-3539 717-532-4132 Sincerely, I /-. / f/ 1=..1/'/ . ~\t-fL/rJ.-,Lte Sue Kimw/ Assistant I Cis Services, (302) 934-2909 or 'vlce"- /h "<"-Ll"""'<',~ -,"'- ) F' 'J' /C-~' c ' I),) ./1/ .:}..'I.l ,,.) ,fr Yf / Ie ;1.t"c:'; l I /1/ J,l'nt,) , .. t.~t /; /~/18c/.S" Ptt/"if' / /:7/r f 1/ Z; I ,,-. . / SELLER NAME JArV'<:'1 1-1 Ai 14/e .,..':-J,ht/e 5' 7 ~;/ /4 <'V-; ,~ v Sf> I/() P</-61hll1) fh ~ LOCATION OF SALES 1f1:i h 1F.?/?6<<,tY .5'" AUCTIONEERflf-Fv' lI.:c~j\5/)'<-{/ /?40> .Je/tY ".." .... ...., .,. (7'-".' " " .,.. . . ,. ,._._',\,__.._',...,:~,..",.,..',.,. ',_,', "._",'<i:.._, -., ,'::,'. .. ...'.. .." d.,,> "<, .-.::....'.: ',',,-: ,.:' ',' ":','-:" -....-...... ....,,'...,., ',.,:->:.- -,',:;'_":-,-; ADDRESS ;tA(,'<\~>J" .. ~~'~~~_~$.e~~NS~$" ) ~A/-0 ',';; PROFESSIONAL FEES Ie C/... '; AUCTIONEER It. $ '16 2. C' () CLERK $ $ CASHIER OTHER EXPENSES 8 J.. j) .!LJ {/ t1 '1)J,>';i~r. 48&/!-, -7/2'1r:/l jf?"! /"-tPt/.- (T()TAL EXPENSES FINAL SETTLEMENT DATE OF SALE5/! f ~ L I PHONE ,::ib f,/ ~6o.2f' ~ /7.2.5- 7 ZIP PHONE -.S3;1.. --'76'97 C. . RECEIPTS ;\,'1 <.,~) -:J_~.it ^t --~-* CASH ) $ $ fi';,'> ;,:;*: ~J8 CHECKS $ $ $ $ $ $ $ $ $ $ '1/;,zA".S6 $ )6tJl..2.:5 $ ,]0 ~J. J.-....S I (or we), the seller, occept this settlement ond acknowledge receipt of the above specified net proceeds from the auction of my goods and property sold on the above date. I accept all responsibility for providing mer?jntable title to all goods, and property sold, and for delivery of title to the purchaser. /( / -;r ".. }",JIl\"7 It$1~~~ /4~.,L( R. - ate~ _ ) A~ctioneer or Cashier's Signature . ~~/!J 2- Date ::.~t ~'?U* OTHER RECEIPTS >'4i: (S;~ TOTAL RECEIPTS LESS TOTAL EXPENSES NET PROCEEPSPAYABlE TO. SELLER (Seller's Signature) e~:t , i"::.c.e,. /""<-r..n'V Dote STATUS REPORT UNDER RULE 6.12 BEFORE THE REGISTER OF WILLS, COUNTY OF CUMBERLAND , PENNSYLVANIA Name of Decedent: Janet L. Fuller Date of Death: 10/21/2001 File No. 21-01-1015 Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following ~h respe ~o1~ to the completion of the administration of the above-captioned estate: :*" ---I 1. State whether administration of the estate is complete: YES X NO __._ 2. If the answer is "No", state when the personal representative reasonably believes that the administration will be complete: 3 If the answer to No. I is "Yes", state the following: a. Did the personal representative file a final account with the Court? YES ___. NO X b. The separate Orphan's Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? YES X NO ____ d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. Jo..~' R./Z.?inger ,--/ Nam~i (Please type °r'pri~t) ' 14 North Main Street, Suite 200 Address Chambersburg PA 17201 (.717)264-6029 Tel. No. Capacity: __ Personal Representative X Counsel for personal representative Cumberland County Janet L. Fuller PETITION FOR GRANT OF LETTERS Estate of Janet L. Fuller No. 21-01-1015 also known as , Deceased Social Security No. 180106885 Joel R. Zullinger Petitioner(s), who is/are 18 years of age or older, apply)ies) for: (COMPLETE "A" OR "B" BELOW:) [lJ A. Probate and Grant of Letters and aver that Petitioner(s) is/are the execut or Decedent, dated 5/4/01 and codicil(s) dated named in the Last Will of the State relevant circumstances, e.g., renunciation, death of executor, etc Except as follows, Decedent did not marry, was not divorced and did not have a child born or adopted after execution of the documents offered for probate; was not the victim of a killing and was never adjudicated incapacitated: o B. Grant of Letters of Administration (c.t.a., d.b.n.c.t.a.: pendente lite, durante absentia; durante minoritate) Petitioner(s) after a proper search has/have ascertained the Decedent left no Will and was survived by the following spouse (if any) and heirs: I Name Relationship Residence 1 (COMPLETE IN ALL CASES:) Attach additional sheets if necessary. Decedent was domiciled at death in Cumberland County, Pennsylvania, with his/her last family or principal residence at 57 West King Street, Borough of Shippensburg, Cumberland County, PA (list street, number and municipality) Decedent, then 87 years of age, died October 22 ,2001, at 57 West King Street, Shippensburg, PA (Location) Decedent at death owned property with estimated values as follows: (if domiciled in PA All personal property......................................... $ 275,000.00 (if not domiciled in PA Personal property in Pennsylvania .................... $ (if not domiciled in PA Personal property in County.............................. $ Value of real estate in Pennsylvania ........................................................................................ $ 200.000.00 Total .................:........................................ .........................:................................. $ 4 i~og; 0 at Real Estate situated as follows: 57 West King Street, Borough of Shippensburg, CUmber un y, PA Wherefore, Petitioner(s) respectfully request(s) the probate of the Last Will and Codicil(s) presented with this Petition and the grant of letters in the appropriate form to the undersigned: Typed or printed name and residence 14 N. Main Street, Suite 200, Chambersbur , PA 17201 Oath of Personal Representative Commonwealth of Pennsylvania County of Cumberland The Petitioner(s) above-named swear(s) and affirm(s) that the statements in the foregoing Petition are true and correct to the best of the knowledge and belief of Petitioner( s) and that, as personal representative( s) of the Decedent, Petitioner(s) will well and truly adminis~te estate a~linJlaw. · Sworn to and affirmed and subscribed J R W ~./.. 4.7 ~ ~ . u Inger if before me this 2nd. day of NOVember~_ ?17~;)-~Y- Estate of Janet L. Fuller DECREE OF REGISTER Deceased No. 21-01-1015 also known as Social Security No: 180106885 Date of Death: 10/22/01 AND NOW, November 5 2001 I in consideration of the Petition on the reverse side hereon, satisfactory proof having been presented before me, IT IS DECREED that Letters III Testamentary a of Administration ((c.t.a., d.b.n.c.t.; pendente lite; durante absentia; durante minoriate) are hereby granted to Joel R. Zullinger in the above estate and that the instrument(s). if any, dated May 4,2001 described in the Petition be admitted to probate and filed of record as the Last Will of Decedent. FEES Letters................................... . Short Certificates(s) ............... Renunciation......................... . Extra Pages ( ) ............... I. T. R............... .............. .......... JCP Fee ................................. Inventory ................................ Other ...................................... TOTAL............................. $ $ 340.00 71~~h J.bJ~N'.~/fJ.~(~/( Register Wills $ $ $ $ $ $ $ $ 9.00 27.00 5.00 PA 17201 381.00 Telephone: (717)264-6029 DATE FILED: 11 05.805 REV 9/86 This is to certify that the information here given is correctly copied from an original certificate of death duly filed with me as Local Registrar. The original certificate will be forwarded to the State Vital Records Office for permanent filing. WARNING: It is illegal to duplicate this copy by photostat or photograph. No. Fee for this certificate, $2.00 p 7782687 cOc / zs; . , Date '2-&O/, 2~-Ol-l015 .. 2JI7 COMMONWEALTH OF PENNSYLVANIA. OEPARTMENT OF HEALTH · VITAL RECORDS CERTIFICATE OF DEATH _ll.._YI IJNOf:R , YEAR - o.y. SEX I. Rem8 1 e 311111"'-1 ""_A SOCIAL SECURITY NUMBER J. 180 - 10 - NAME OF DECEDENT IF." ModdIlI. L"" ,. JANET L. FULLER =".,,0 ,.... RACE. A_ _. BIocll. w.... ... (~J White ... _AI. swus. _ SUAVIV1NO SPOUSE ,..~ Man." WIdawed. I" wrIe. r..JrYe~' n.w~' ~1St>oc"'" ,Widowed DId ,"'.0....__... - -... Cumberland ....? 'MCJ~-:::::~ ShiDDen8bur~ MOTMEI\'S NAMl! (Fr.. MtddIa. _SO.....MI 1 Sarah E. Zeigler IHI'OIIMAHT'S -....0 ADllflE (SIr.... /bon. s.. Zip Codal . 8738 Olde Scotland Road, Shippensburg, PA 17257 IE . He.... ofC_...,. er-atory LOCAflON. c~. SI....Zip Coda OtOlMo~ Shippensburg, 2~'p'nng 21.. Cumberland Count PA - OECEllIENl'S~ OCCUMIOM (~...:=:.:.':..':: ::~:i' . tt Clerk 1Vaver's Cut Rate OECIEtlIENl'S UAIUNO AIlDAIESS (SIr.... c~. SIIIa. Zip Codel 57 W. King St. Shippensburg, PA 17257 ,.. FlDHEf\'SNAMEIFirtI. _. lOllI It. Roy O. Bigler INI'OAIAAHT'S_ (T~ Jerry A. Bigler METHOO OF DtSPOStTIOH O .... O!I ~ 0 "--aI_Sl.O _ 0IMr (SpoclIy' . 2t SIGNRUfIE 0# ~ __ _"'__by DATE PRONOUIlCEO DEAO(MontIt. Day. -, . -----. H. PM... 10/22/01 27. ""'" I: 1_.... _.....-OI_---.hOda.'~ 00___ ,,,"_otdylnQ. _1I..c.._... ._......, ....... -.. hO.nl.lIuf. UIl...,__on_.... _I CIoUII IF.... _..~ -*'11..-.- PA 17257 ~...- .--..-- _. _ UIIDIIIl.\'lIIQ CAUII!~.. "."., ._-- ....-..0.. -.uaT I==:"" :--- I ! NoDI _II: 0IIlar siQniIICanl eo.-. ~ 10 _. but nac-",,"1IIa ~__.. fWIT I lb. e. d. ~.., ~ DUE 10 (OR AS A CONSEOUENCE 0Fl: _ AN AlJ1tlPSV PEIIFOAMEO'I RE AU1OPSVF..oINOS _._.E PRIOR 10 COUPlEl1ON OF CAUS€ OF DEArH? MANNEA OF DEATH DATE OF INolUAY (Non". o.y. -l TIME OF INJURY IHJUAV AT WORK? OESCRI8E !tOW IHJ\JRY OCC\IME 0 ..........~ o o o PlACE OF lNJUI'y. "'IIOIM........ ."".lac:lCIIY. - .... ~ ..,SpacoIYI _. _ 0 HoD _ 0 ....ltL _0 NoD - -... - ~ o o - eo.ll6_"'_ LOCATION (SlrwIl. CAv/bon. SIal.. -- -- a"'_",~~_ "CVITFfWQ I'H'tIlCtAN(Ph_ c~ c:au.d _ _........ phvIoc;.... _llIonaunc:acl doalll anoc~ Itam 23\ Te..._.."'Y..................___..........-c.I_..._...'_............................ ...................... .~ANOaltT..._ PMYSlCtANf""-""" "'''''''''"'''''9 _ _c"'~ 10_01_'" 1b"'_~"'Y.~. _...llC<'_....._. _. _....... __Io....OUM(.I....."'......'...l.,................. o '..DlCAI.. DAMINIltICOAOMIR :'...'=-~=~.'~'~...~~~~~~: ~~~y~~: ~~ ~~ 'I~ ~~..~I~: ~~.'~~~~: ~.~~~~ ~~~~~~).~ 0 3'.. REGISTRAR'S SlGNATUAE AND NUMBER 17ft /7.1.)/ 33. ~ 7-L'O . , JRZ - 5.1 fuller.2 April 21, 2001 -_J.-uJ.-1015 LAST WILL AND TESTAMENT I, Janet L. Fuller, of the Borough of Shippensburg, Cumberland County, Pennsylvania, being of sound and disposing mind, memory and understanding, do hereby declare this to be my will, hereby revoking any and all former wills and codicils thereto by me heretofore made. I. I direct that all my just debts and funeral expenses, including all expenses of my last illness, shall be paid from my estate as soon as practicable after my decease as a part of the expense of the administration of my estate. II. I give and bequeath those items listed on a separate unsigned memorandum which refers to this my will by date to the individuals named therein. In the event that no such memorandum shall be found within thirty days following my death, this bequest shall be considered null and void. III. I give and devise the sum of $500.00 cash to Trudy Collier if survives me. IV. give and devise the sum of $500.00 cash to my niece, Nikki in recognition of all she has done for me, if she survives V. I give and devise the sum of $1,000.00 cash to Cynthia Hershey if she survives me. VI. I give and devise the sum of $300.00 cash to my great-niece, Angell Kilgore if she survives me. VII. I give and devise the sum of $500.00 cash to my great-niece, Holly Franklin, if she survives me. Page 2 VIII. and devise the sum of $500.00 cash to Bertha Louise ohnson, if she survives me. ~ r, _ I give and devise the sum of $500.00 cash to Anna Mae Fauber ~ of Steelton, Pennsylvania, if she survives me. IX. X. I give and devise the sum of $500.00 cash to Roberta Cohick of Carlisle, Pennsylvania, if she survives me. XI. I give and devise the sum of $500.00 cash to Rebecca Etter of Shippensburg, Pennsylvania, for all she has done for me, if she survives me. XII. I give and devise the sum of $1,000.00 cash to Memorial Lutheran Church, Shippensburg, Pennsylvania. Page 3 ~ ~ XIII. I give and devise the residue of my estate of every nature and wherever situate in five equal shares as follows: A. One equal share to the children of my deceased brother, Arthur Bigler, namely Robert Bigler, Cynthia Hershey, and Janet Suzann Rhoades, in equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary's issue, per stirpes, living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be added to the share or shares of my other then-living beneficiaries named in this paragraph A. B. One equal share to the children of my deceased brother, Leon Bigler, namely Jan Bigler, Mitchell Bigler, Nicole Watson, and Leon Frances Bigler, in equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary's issue, per stirpes, living on the thirty- first day following my death, and in default of any such then-living issue, such share shall be added to the share or shares of my other then-living beneficiaries named in this paragraph B. c. One equal share to be divided as follows: Page 4 1. One-third thereof to Randy Bigler, the son of my deceased brother, Gordon Bigler, provided that should Randy Bigler predecease me or die on or before the thirtieth day following my death, his share shall be distributed to his issue, per stirpes, living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be distributed under this paragraph C, subparagraph 2 herein. 2. Two-thirds thereof to be divided equally among subparagraphs A, B, D, and E and distributed under the terms of said subparagraphs. D. One equal share divided as follows: 1. Twenty-five percent thereof to my brother, Glenn L. Bigler, provided should my said brother predecease me, his share shall be distributed under this subparagraph 2 of this paragraph D. 2. Seventy-five percent thereof to the children of my brother, Glenn L. Bigler, namely Nancy Jones, Jackie Bigler and Nikki Glunt, in equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary's issue, per stirpes, living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be Page 5 added to the share or shares of my other then- living beneficiaries named in this subparagraph 2. E. One equal share divided as follows: 1 . Twenty- five percent thereof to my brother, Jerry Bigler, provided should my said brother predecease me, his share shall be distributed under this subparagraph 2 of this paragraph E. 2. Seventy-five percent thereof to the children of my brother, Jerry Bigler, namely Gordon J. Bigler, Robin VanArt, Tina Hamilton and Sarah Jane Johnson, in equal shares, provided that the share of any beneficiary who predeceases me or dies on or before the thirtieth day following my death shall be distributed to said beneficiary's issue, per stirpes, living on the thirty-first day following my death, and in default of any such then-living issue, such share shall be added to the share or shares of my other then-living beneficiaries named in this subparagraph 2. XIV. I direct my executor to give my brothers, Glenn Bigler and Jerry Bigler, the first opportunity to purchase my real estate on West King Street in the Borough of Shippensburg at its fair market value as determined for Pennsylvania inheritance tax purposes. In Page 6 the event both of my brothers wish to purchase said real estate, my executor shall devise a fair means of determining who shall have the opportunity to purchase said real estate. In the event both of my said brothers do not wish to purchase said real estate, then I authorize my executor to offer the real estate to Gary and Cynthia Hershey at its fair market value as finally determined for Pennsylvania inheritance tax purposes. xv. Any fiduciary under this will shall have the following powers in addition to those vested in them by law and by other provisions of my will applicable to all property whether principal or income, including property held for minors, exercisable without Court approval, and effective until actual distribution of all property: A. To retain any and all of the assets of my estate, real or personal, without regard to any principle of diversification of risk. B. To invest in all forms of property including stock, common trust funds and mortgage investment funds without restriction to investments authorized for Pennsylvania fiduciaries as they deem proper, without regard to any principle of diversification of risk. C. To sell at public or private sale, to exchange or to lease for any period of time any real or personal property and to give options for sales, exchanges or Page 7 leases, for such prices and upon such terms or conditions as they deem proper. D. To allocate receipts and expenses to principal or income or partly to each as they from time to time think proper. E. To compromise any claim or controversy. F. To distribute in cash or in kind or partly in each. G. To hold property in their names without designation of any fiduciary capacity or in the name of a nominee or unregistered. XVI. I direct that all taxes that may be assessed in consequence of my death of whatever nature and by whatever jurisdiction imposed, shall be paid from my residuary estate as a part of the expense of the administration of my estate. XVII. I appoint Joel R. Zullinger, Esq., as executor of this my will. XVIII. The interest of the beneficiaries hereunder shall not be subject to anticipation or to voluntary or involuntary alienation; Page 8 l and the principal and income shall be paid by the trustee or guardian directly to or for the use of the beneficiary entitled thereto, without regard to any assignment, order, attachment or claim whatever. XIX. No bond shall be required of any fiduciary hereunder in any jurisdiction. IN WITNESS WHEREOF, I hereunto set my hand and seal to this my last will and testament, consisting of ten typewritten pages, the first eight of which bear my signature in the margin for the --f#- of identification this day of purpose ~(f (SEAL) Signed, sealed, published and declared by the above-named testatrix as and for her last will and testament in our presence, who in her presence, at her request and in the presence of each other have hereunto set our hands as attesting witnesses. lIi!L' t~~~rL.-~j,(! --2 'i Ai, FiaAi)'nJ)f. j Ckm~fXJ~, fJJ} Page 9 . . We, Janet L. Fuller, r21~f~, the L/iYe/ f( k~~ and testatrix and the witnesses respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the testatrix signed and executed the instrument as her last will and testament and that she executed it as her free and voluntary act for the purposes therein expressed and that each of the witnesses, in the presence and hearing of the said testatrix, signed the will as witnesses and to the best of their knowledge, said signer was at that time eighteen years of age or older, of sound mind and under no constraint or undue influence. ~tr~~5~ 4~1 . Subscribed, sworn to and acknowledged before me by the above-named signer and subscribed and sworn to before/~ by the above-name~sses this ~ day of , 2~. ~~~ No~ry Public Notar'a' 8ea' Carin L Walter. Notary Public Chamberaburg Boro, Franklin County My Commission expires May 13, 2001 Page 10 Cumbelrand County ~ CERTIFICATION OF NOTICE UNDER RULE 5.6(a) Name of Decedent: Janet L. Fuller Date of Death: 10/22/01 Estate No. 21-01-1015 SSN: 180-10-6885 File No. 21-01-1015 Date Letters Granted: 11/5/01 Will or Administration No. To the Register: I certify that Notice of Estate Administration required by Rule 5.6(a) of the Orphans' Court Rules was served on or mailed to the following beneficiaries of the above-captioned estate on 11/21/01 Name Trudy Collier Address 15489 Paxton Run Road NewburQ 126 N . Fayette Street ShippensburQ 171 Chamberlin Road Shippensburg Angell Kilgore 442 Ohio Avenue __~__~_~_~_-_~~~--_~_---_~___-- ___~_~~Bal'!l_Qersburg~___~_____~~___ Holly Franklin 199 Hilltop Road ____~__~______~ ~~_____________~____~__________1'J~~~I:>_LJrg _~_ ___~_____________~~__u_~___ _ _ PA _ 17240 Bertha Louise Johnson 490 Mountain View Road -----------~------- _ ~__ _____ ____ ______~___~_________ ____~biQ~DSblJ[9-_~~__________u____ __~_______ __u_ ___~J? A~~57___ PA 17240 Nicki Glunt PA 17257 Cynthia Hershey PA 17257 ___~_PA_1720~ Notice has now been given to all persons entitled thereto under Rule 5.6(a) except No exceptions._ Date: 11/21/01 ...../?...r , ~,I t... / ff1.' ...c;;_,-- l ',. <' ',_ 'f . - v.,/) ~L / ~. I---~ ~~ Signature ( . _ ' Joel R. Zullinger, Esq. Name (Please type or print) Capacity : Personal Representative X Counsel for PersOQjlI Repr~~~ative ~ 1.""( d",j Address 14 North Main Street, Suite 200 :':::: 0- Chambersburg ~~A 17201 - N ::::::- ~ ...;t:"..~ , ~:'~; Telephone No. 717-264-6029 ~. ~:;- ~..."J i.,,:)i 0"0:, C)Q) ~a: p ;1) l.o ':i- ~ (1)= ......~ .." UU " Continuation of Certification of Notice Under Rule 5.6(a) Janet L. Fuller 1 0/22/01 Names and addresses Page 1 Name AnnaMae F awber Roberta Cohick Rebecca Etter Robert Bigler Janet Suzann Rhoades Jan Bigler Mitchell Bigler Nicole Watson Leon Frances Bigler Randy Bigler Glenn J. Bigler Nancy Jones Glenn L. Bigler Jerry Bigler Gordon Bigler Robin VanArt Tina Hamilton Sara Jane Johnson Francis Louise Bigler Delores Bigler Address 359 Swatara Street Harrisburg 139 Bridge Road Newville 106 Middle Spring Road Shippensburg 3311 Queen Street N. St. Petersburg 165 Goodhart Road Shippensburg 212 Roxbury Road Shippensburg _ 1131 Cider Press Road Chambersburg 167 Hillbrook Drive Cameron 3611 Highland Drive Ayden 106 Tidwell Drive Huntsville 1380 Mainsville Road Shippensburg 408 Blacklatch Road Camp Hill Rice Road Shippensburg ____ 8738 Olde Scotland Road Shippensburg 8702 Olde Scotland Road Shippensburg 605 Britton Road Shippensburg 8629 Pineville Road Shippensburg 8750 Olde Scotland Road Shippensburg 1380 Mainsville Road Shippensburg 212 Roxbury Road Shippensburg PA 17113 PA 17241 PA 17257 FL 33713-2843 PA 17257 PA 17257 PA 17201 NC 28326 NC 28513 AL 35806 PA 17257 PA 17011 PA 17257 -~~--~--~~ PA 17257 ~-~---- PA 17257 PA 17257 PA 17257 -- PA 17257 PA 17257 PA 17257 . (' LAW OFFICES OF ZULLINGER - DAVIS PROFESSIONAL CORPORATION JOEL R. ZULLINGER 14 North Main Street Suite 200 Chambersburg , P A 17201 717 - 264-6029 Fax: 717-264-1884 zulngrlaw@cvn.net Dale F. Shughart, Jr. of counsel HAMILTON c. DAVIS 20 East Burd Street, Suite 6 P.O. Box 40 Shippensburg, P A 17257 717-532-5713 Fax: 717-530-5222 davish@cvn.net January 21,2002 Mary C. Lewis, Register of Wills Cumberland County Courthouse Carlisle, P A 17013 Dear Ms. Lewis: RE: Estate of Janet L. Fuller No. 21-01-1015 Enclosed is check from the above estate in the amount of $55,100.00, payable to you as agent, which represents a prepayment on Pennsylvania Inheritance Tax. The prepayment is based on a taxable estate of $400,000.00. Of this figure $66,666.68 is taxable at 120/0 or $8,000.00; and 333,333.32 is taxable at 150/0 or $50,000.00, for a total tax of $58,000.00 less discount of $2,900.00, for payment of $55,100.00. If you have any questions, please contact me. Thank you. !...,,,~ . ,-,~ C,) ,;.......'.i') 00 ~tF. ~ ,... :) .,.,., ..0 ..e: s:::: m= -.. ~ Uo Very truly yours, ~l~r 0\ 9 (......l a:: l"'I N ~ "J tI I !\rgistrr of Wills anb QCltrk of tbe QF)rpbans' ~ourt ~ountp of ~umbttlanb COURTHOUSE. CARLISLE. PA 17013 MARY C. LEWIS Register of Wills & Clerk of the Orphans' Court JERRY R. DUFFIE, ESQ. Solicitor TO: Laurel Fulmer Department of Revenue Estate of: Janet L. Fuller 21 - 01 - 1015 Date: August 19.2002 The inheritance tax payment was received in our office on the 23rd day of January 2002, but the postmark date was the 22nd day of January. the postmark date did not appear on the inheritance tax receipt. Could you please forward to Joel R. Zullinger who is the attorney for this estate a corrected assessment notice showing the credit he would receive if paid in the discount period. Thank you Register of Wills fI " . I{~AX TRANSMITI AL FAX H -C'1."';') -ll~ -04:1...2J .-, 4 TO 1 l D '-I ~ArrN ora "J\D ~ 'T'll~^J DATE ~/IIl4L,n I .HI.I) ~.{ I .4* /q ;;(fyl) J F"ROM. : CALL (717) 2.L40-<03ll51."Ofl ANY INQUffilES FROM: _ _.lO,V CoWlty of Cwnberl One Courthous-e Square Carlisle, PA 17013-3387 FAX # (717) . 240-7797 '" , PAGE ONE OF ~ --.--------.. - !rkiil;~' ~ \( o o N~ OJO .-N '- ....... :J~ (J)_~ .......a. OJ (j) - rnc~ C'- :J :-:: eo .0 :5 :E U) N.c<u . toO O:::oE Q.iZeo o'V.c -,~() \0 UlgJ .- :J - SO a 'to-.c at:: --. L-:J , Q) 0 (j)O 'o>~ C Q) c: ('t') O::::J~ I _0:2 t .~ 0 ~ <b- 3"0 <( Q)ca.. ...Jro . L: - O~~ 2' E .~ co :J ro ~OU \.l..l ~u un '}qUlll:J -)iJal:l 60: Zle; fZ NVr lO. dtj ".-'}CK>etj ....: .-:: ...- ..- -::: .- ..- ~ .- .~ ::::: :::: .- 1":' "'.1 .:,) e) ". "':1 .r" ~) r'" ./... COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG. PA 17 128-0601 REV-1162 EX(11-96) RECEIVED FROM: PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT ZULLlNGER JOEL R 14 NORTH MAIN ST SUITE 200 CHAMBERSBURG, PA 17201 -------- fold ESTATE INFORMATION: SSN: 180-10-6885 FILE NUMBER: 21 - 2001 - 1 01 5 DECEDENT NAME: FULLER JANET L DATE OF PAYMENT: 01/23/2002 POSTMARK DATE: 00/00/0000 COUNTY: CUMBERLAND DATE OF DEATH: 10/22/2001 NO. CD 000784 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 I $55,100.00 I I I I I I I I TOTAL AMOUNT PAID: $55,100.00 REMARKS: JOEL R ZULLlNGER CHECK# 114 SEAL INITIALS: DO RECEIVED BY: MARY C. LEWIS REGISTER OF WILLS REGISTER OF WILLS \. /'}-/9~ BUREAU OF INDIVIDUAL TAXES INHERITANCE TAX DIVISION DEPT. 280601 HARRISBURG, PA 17128-0601 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE INHERITANCE TAX STATEMENT OF ACCOUNT JOEL R ZULLINGER ZULLINGER DAVIS 14 N MAIN ST STE 200 CHAMBERSBURG PA 17201 DATE ESTATE OF DATE OF DEATH FILE NUMBER COUNTY ACN * REV-1601 EX AFP [01-021 08-26-2002 FULLER 10-22-2001 21 01-1015 CUMBERLAND 101 JANET L Allount Rellitted MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE~ PA 17013 NOTE: To insure proper credit to your account~ subllit the upper portion of this forll with your tax paYllent. CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~ RE-v:i6"ifi-Ex-AFP--(Ol-.:o2)-------...-iNirEii'~fANCE--yAX--STA-fEHE-Ny-ifF"-Accouiif--.-..---------------- - - --- ESTATE OF FULLER JANET L FILE NO. 21 01-1015 ACN 101 DATE 08-26-2002 THIS STATEHENT IS PROVIDED TO ADVISE OF THE CURRENT STATUS OF THE STATED ACN IN THE NAHED ESTATE. SHOWN BELOW IS A SUHKARY OF THE PRINCIPAL TAX DUE~ APPLICATION OF ALL PAYHENTS, THE CURRENT BALANCE, AND, IF APPLICABLE~ A PROJECTED INTEREST FIGURE. DATE OF LAST ASSESSMENT OR RECORD ADJUSTMENT: 08-19-2002 P R I NC I PAL TAX DU E : ........................................................................................................................................................................................................................... PAYMENTS (TAX CREDITS): 61,703.59 PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID DATE NUMBER INTEREST/PEN PAID (-) 01-22-2002 CDOO0784 2,900.00 55,100.00 07-11-2002 CDOO1399 .00 3,703.59 TOTAL TAX CREDIT 61~703.59 BALANCE OF TAX DUE .00 INTEREST AND PEN. .00 . IF PAID AFTER THIS DATE~ SEE REVERSE TOTAL DUE .00 SIDE FOR CALCULATION OF ADDITIONAL INTEREST. ( IF TOTAL DUE IS LESS THAN $1, NO PAYHENT IS REQUIRED. IF TOTAL DUE IS REFLECTED AS A "CREDIT-- (CR) ~ YOU HAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORH FOR INSTRUCTIONS. ) /~-/9- q .'v BUREAU OF INDIVIDUAL TAXES INHERITANCE TAX DIVISION DEPT. 280601 HARRISBURG~ PA 17128-0601 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE NOTICE OF INHERITANCE TAX APPRAISEHENT~ ALLOWANCE OR DISALLOWANCE OF DEDUCTIONS AND ASSESSHENT OF TAX 'O~_~ 23 /L DATE ESTATE OF DATE OF DEATH FILE NUMBER COUNTY ACN 08-19-2002 FULLER 10-22-2001 21 01-1015 CUMBERLAND 101 JOEL R ZULLINGER ZULLINGER DAVIS 14 N MAIN ST STE 2UU CHAMBERSBURG PA~'\])7201 *' REY-1547 EX AFP (01-02) JANET L Allount Rellitted MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE~ PA 17013 CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~ REY=is4j-ix-AFP--fo1-:ozi--NOTici-oF-:fNHiififANCi-YAX-jrpPRAisiirENT~--Ai:.'rOWAiici-o-i----------------- DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX ESTATE OF FULLER JANET L FILE NO. 21 01-1015 ACN 101 DATE 08-19-2002 TAX RETURN WAS: (X) ACCEPTED AS FILED ) CHANGED If an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will reflect figures that include the total of ~ returns assessed to date. ASSESSMENT OF TAX: 15. Allount of Line 14 at Spousal rate (15) 16. Allount of Line 14 taxable at Lineal/Class A rate (16) 17. Allount of Line 14 at Sibling rate (17) 18. Allount of Line 14 taxable at Collateral/Class B rate (18) 19. Principal Tax Due RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN 1. Real Estate (Schedule A) 2. Stocks and Bonds (Schedule B) 3. Closely Held Stock/Partnership Interest (Schedule C) 4. Hortgages/Notes Receivable (Schedule D) 5. Cash/Bank Deposits/Hisc. Personal Property (Schedule E) 6. Jointly Owned Property (Schedule F) 7. Transfers (Schedule G) 8. Total Assets U) (2) (3) (4) (5) (6) (7) 177,000.00 .00 .00 .00 277.194.86 .00 .00 (8) APPROVED DEDUCTIONS AND EXEMPTIONS: 9. Funeral Expenses/Adll. Costs/Hisc. Expenses (Schedule H) 10. Debts/Hortgage Liabilities/Liens (Schedule I) 11. Total Deductions 12. Net Value of Tax Return 13. Charitable/Governllental Bequests; Non-elected 9113 Trusts 14. Net Value of Estate Subject to Tax (9) (10) 31~333.98 874.46 (11) (12) (3) (4) (Schedule J) NOTE: .00 X 00 = .00 X 045= 48,145.60 X 12 = 372,840.82 X 15 = NOTE: To insure proper credit to your account, subllit the upper portion of this forll with your tax paYllent. 454~194.86 32.208 44 421,986.42 1,000.00 420~986.42 (9)= .00 .00 5~777.47 55,926.12 61,703.59 TAX CRI!.DITS: ... ......... R............. (+J AHOUNT PAID DATE NUHBER INTEREST/PEN PAID (-) 01-23-2002 CDOO0784 .00 55~100.00 INTEREST IS CHARGED THROUGH 09-03-2002 TOTAL TAX CREDIT 55~100.00 AT THE RATES APPLICABLE AS OUTLINED ON THE BALANCE OF TAX DUE 6,603.59 REVERSE SIDE OF THIS FORM INTEREST AND PEN. 46.57 TOTAL DUE 6~650.16 . IF PAID AFTER DATE INDICATED~ SEE REVERSE FOR CALCULATION OF ADDITIONAL INTEREST. IF TOTAL DUE IS LESS THAN $1, NO PAYHENT IS REQUIRED. IF TOTAL DUE IS REFLECTED AS A "CREDIP' (CR)~ YOU HAY BE DUE A REFUND. SEE REVERSE SIDE OF THIS FORH FOR INSTRUCTIONS.) COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 ~ REV-1162 EX( 11-96) RECEIVED FROM: PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT NO. CD 001399 DUPLICA TE ZULLlNGER JOEL R 14 NORTH MAIN STREET,SUITE 200 CHAMBERSBURG, PA 17201 -------- fold ESTATE INFORMATION: SSN: 1 80-10-6885 FILE NUMBER: 2101-1015 DECEDENT NAME: FULLER JANET L DATE OF PAYMENT: 07/12/2002 POSTMARK DATE: 07/11/2002 COUNTY: CUMBERLAND DATE OF DEATH: 10/22/2001 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 I $3,703.59 I I I I I I I I TOTAL AMOUNT PAID: $3,703.59 REMARKS: JOEL R ZULLlNGER ESQUIRE CHECK#160 SEAL INITIALS: JA RECEIVED BY: REGISTER OF WILLS MARY C. LEWIS REGISTER OF WILLS L- LAW OFFICES OF ZULLINGER - DAVIS PROFESSIONAL CORPORATION JOEL R. ZULLINGER 14 North Main Street Suite 200 Chambersburg , P A 17201 717-264-6029 Fax: 717-264-1884 zulngrlaw(Q),cvn.net Dale F. Shughart, Jr. of counsel HAMILTON c. DAVIS 20 East Burd Street, Suite 6 P.O. Box 40 Shippensburg, P A 17257 717-532-5713 Fax: 717-530-5222 davish@cvn.net Oi-lo'5 July 3, 2002 Mary C. Lewis, Register of Wills Cwnberland County Courthouse Carlisle, P A 17013 Dear Ms. Lewis: RE: Estate of Janet L. Fuller File No. 21-01-1015 Enclosed for filing in your office are an original and one copy of the P A Inheritance Tax Return for the above estate along with check in the amount of $3,703.59 for the balance of tax due. Thank you. 21:i~' J?,i~. Zullinge r' Ends. F' l-.J "') II?: Z t lnr ZOo \ de' \.U <1 L) n. ,']: N r- t:.' Cl <.r) ex', -' r-- Op:::ICl .-;::. Cc.......C!.IN- ::J <L(fll"- _0 'Cl-a:: - :f: (.r) u.l .-J ,:r: a:l ::J ::J ~. J <t'. :t: L-' ('-I Cl ~~ .M ("'W"')6 $g '" ~~~ --- -:: ~ ~~ ~ -=---- :::. o I"- -= l .J] ...--~ '1\' \t c::> o c::> o ,.,.- - '--J ----. \ '- c-' '" V 0/ II' 01, STATUS REPORT UNDER RULE 6.12 BEFORE THE REGISTER OF WillS, COUNTY OF CUMBERLAND , PENNSYLVANIA Name of Decedent: Janet L. Fuller Date of Death: 10/21/2001 File No. 2001-01015 Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following with respect to the completion of the administration of the above-captioned estate: 1. State whether administration of the estate is complete: YES_ NO~ 2. If the answer is "No", state when the personal representative reasonably believes that the administration will be complete: not until sale of real estate 3 If the answer to No.1 is "Yes", state the following: a. Did the personal representative file a final account with the Court? YES_ NO_ b. The separate Orphan's Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? YES_ NO_ d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. ...- ! I" Date: 9/11/2003 Joel R. /linger Name (Please type or print) 14 N. Main Street. Suite 200 Address Chambersburg PA 17201 (717)264-6029 Tel. No. Capacity: ~ Personal Representative ~ Counsel for personal representative STATUS REPORT UNDER RULE 6.12 BEFORE THE REGISTER OF WillS, COUNTY OF CUMBERLAND , PENNSYLVANIA Name of Decedent: Janet L. Fuller Date of Death: 10/21/2001 File No. 21-01-1 015 ~ ,.-. ~ J \~ .... Pursuant to Rule 6.12 of the Supreme Court Orphans' Court Rules, I report the following ~tt~Jespe~ to the completion of the administration of the above-captioned estate: ::-'. c::J n -1 1. State whether administration of the estate is complete: N YES~ NO_ ::g ['.J C.j co 2. If the answer is "No", state when the personal representative reasonably believes thaf the administration will be complete: 3 If the answer to NO.1 is "Yes", state the following: a. Did the personal representative file a final account with the Court? YES_ NO ~ b. The separate Orphan's Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? YES~_ NO_ d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be filed with the Clerk of the Orphans' Court and may be attached to this report. Date: 10/7/2004 14 North Main Street. Suite 200 Address Chambersburg PA 17201 (717)264-6029 Tel. No. Capacity: Personal Representative ~ Counsel for personal representative