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HomeMy WebLinkAbout09-24-121505611184 REV-1500 "' OFFICJAL USE ONLY PA Department of Revenue P~~YlvaMa County Code Vear Fle Number Bureau of Individual Taxes INHERITANCE TAX RETURN Po Box z8o6oi ~~ - -- i 1171 a~y Harrisburg, PA t7u8-o6ot RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Dete of Death MMDDYYYY Date of Birth MMDDYYYy 193-12-6017 01202012 12191924 last Name Suffix Decedent's Firsl PJame MI CLEAVER CARL W (N Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Sufix Spouse's First Naime MI Spouse's Social Security Number FILL IN APPROPRIATE OPALS BELOW THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS ® 1. Original Return Q 2. Supplemental Retum Q 3. Remaintler Retum (dale of death pdor to 12-13-82) Q 4. Limited Estate Q 4a. Future Interest Compromise (date of Q 5. Federal Estate Tax Retum Required death after 12-12-62) ® 6. Decedent Died Testate Q 7. Decedent Maintained a Cluing Trust ~ 8. Total Number of Sate Deposft Bozes (Attach Copy of Will) (Attach Copy of Trust) Q 9. Litigation Proceeds Received Q 10. Spousal Poverty Credit (date of death Q 11. Election to tax under Sec. 9113(A) between 12-31.91 and 1-1-95) (Attach Schedule O) CORRESPONDENT- THIS SECTION MUST BE COMPLETED. ALL CORRESPDNDENCE AND CONFIDENTIAL TAX INFORMATIOtJ SHOULD BE DfRECTED T0: Name Daytime Telephone Number WIL LIAM L. O'CONNOR (610) 296-4200 X16 First line of address 1500 E. LANCASTER AVENUE Second line of address SUITE 202 City or Post Office PAOLI Correspondent's e-mail address: State ZIP Code PA 19301 REGISTER OF WILLS USEeCMLV CJ >.AJ t~ T ~ ~ ~ C '^.i "r N G. Cry T , c'> ~ ''~ ` - J _. 0 T `F~.11`{LED T> , , v r:J Vnder penanres or pegury, i oedare roar I nave examined tnis ratum, fncWding aaompanying achedutes antl 8tatemenis, and to the best of my knowledge and belief, it is tme, correct arM complete. Dedaralion of preparer other than iha por~nal representative is Wised on all information of which preparer has any knowledge. SIGNATURE OF PERSON RESPONSIBLE FOR fiLiNG RETURN / _ oATE Side 1 1505611184 1505b11184 F~l O T r~+i' -~~ LANCASTER AVENUE PAOLI, PA 19301 PLEASE U8E ORIGINAL FORM ONLY 1505611284 REV-1500 EX (FI) oecedent'sName:CARL W CLEAVER Decedent's Social Security Number 193- CAPRULATION t. Real Estate(Schedule A) .......................................... ... 1. 184,000.00 2. Stocks and Bonds (Schedule e) .................................... ... 2. 2 B 8 , 0 7 2.0 0 3. Closet' Held Corporation, Partnership or Sole-Proprietorship (Schedule C) .. ... 3. 4. Mongages and Notes Receivable (Schedule D) ........................ ... 4. 5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E).... ... 5. 32 3.00 6. Jointy Owned Property (Schedule F) Q Separate Billing Requested .... ... 6. 3 , 610.3 9 7. Inter-Vivos Transfers 8 Miscellaneous Non-Probate Property (Schedule G) O Separate Billing Requested...... .. 7. 12 6 , 7 2 0 . 0 0 8. Total Gross Assets (total Lines 1 through 7) ........................... .. B. 60 2 , 7 2 5 . 3 9 9. Funeral Expenses and Administrative Costs (Schedule K) ................. .. 9. 2 5 , 9 3 9.0 0 10. Debts of Decedent, Mortgage Liabi481es, end liens (Schedule I) ............ .. 1D. 3 , 5 60.0 0 11. Total Deductions (total Lines 9 and t0) ............................... .. it. 2 B , 999.00 t2. Net Yatue of Estate (Line 8 minus Line 55) ............................ .. i 2. 5 7 3 , 7 31 • 3 9 13. Charitable and Governmental Bequests/Sac 9113 Trusts for which an eteclion to tax has not been made (Schedule J) ...................... .. 13. , 14. Net Value Subject to Tax (Line 12 minus Line i3) ...................... .. t4. 5 7 3 , 7 31.3 9 TAX CALCULATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount oT Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .0, 15. t6. Amount of Lina 14 taxable atlinaelratex.045 573,731.39 t6. 17. Amount of Llne 14 taxable at sibling rate X .t2 . 1T, 18. Amount of Line 14 taxable at collateral rate X .i5 • 18. t9. TAX DUE ...................................................... ... 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERP 817.91 25,817.91 Side 2 1505611284 15E5611284 REV-1502 EX~ (01-101 " ~ ~ pennsylvania SCWEDULE A ~ DEPANTMENT OF REVENUE INHERRANCE TpX RETURN REAL ESTATE RESIDENT DECEDENT ESTATE OF FILE NUMBER CARL WELLER CLEAVER 2112-0220 All real property owned solely or as a tenant in common must be reportod at fair market value. Fair market value is defined as the price at which property would be exchanged between a wiiiing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property that is jointly-owned with right of survivorship must be dixlosed on Schedule F. Attach a coDY of the settlement sheet if the Droperty has been sold. ITEM Include a copy of the deed showing decedent's interest if awned as tenant in common. VALUE AT DATE NUMBER OF DEATH DESCRIPTION I, 237 NORTH FRANKLIN STREET -SETTLEMENT SHEET ATTACHED 84,000.00 2. 220 NORTH READING AVENUE -APPRAISAL ATTACHED 100,000.00 TOTAL (Also enter on Line 1, Rectpitulation.) I; 184,000.00 If more space is needed, insert addl[ional sheets of the same size. REV-1503 EX+Q-11) ~.` Pennsylvania OEp~pTMfHi OF pEVENIIE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE B STOCKS & BONDS CARL WELLER CLEAVER At! property joiMFj ovmed vMh right of survivorship must be disclosed on Schedule F. (If more space is needed, insed adddanal sheets of the same sae) REV-1508 EX+ (11-10) >~ ° Pennsylvania tii OEPARiMENT OF FEVErvUE INHERITANCE TA% RETURN RESIDENT DFCEDENi SCHEDULE E CASH, BANK DEPOSITS & MISC. PERSONAL PROPERTY ESTATE OF: FILE NUMBER: CARL WELLER CLEAVER 2] InUude [he proceeds of Iitigatlon and the date the proceeds were received by the estate. If more space is needed, use additional sheetr of paper of the same size. REV-1509 EX+ (01-10) ~' pennsylvania ail pERARTMfNT OF REVENGE INHERRANCE TAX 0.ETURN 0.EBIDEN( DECEDENT SCHEDULE F JOINTLY-OWNED PROPERTY ESTATE OF FILE NUMBER CARL WELLER CLEAVER 2112-0220 H an asset was made )o4rdwitMn oneyear of Me decedenYa date of death, it must be repLNted on Schedule G SURVIVING JOINT TENANT(S) NAME ADDRESS RElAT10NSHIP TG DECEDENT A. ANDREW C. CLEAVER 122 NORTH 26TH STREET SON CAMP HILL, PA 17011 B. PAMELA FINNERTY 1135 GALLOPING HILL ROAD DAUGHTER BASKING RIDGE, NJ 07920 c. JOINTLYAWNED PROPERTY: nEM Nla@ER LETTER FOR.1DWi TENANT DATE IMDE NMNf DESCRIPiIONDF PROPERtt WCIUDE MIME OF FMNHCIAL wSTRUTIDNA1Ja 6ANKACCWNT NUMBER ORSaauR UENTFYYIG NUMBER. ATTACH DEED Fgt,wwnYHEID REAL ESTATE DATEOF DEATH VALUE OFABSE7 %OF DECEDENTS afrEPEST DATE DF DEATH VALUE CF DECEDENTS WTEREST t. A. 2009 PSECU CHECKING A/C 8072 10,832.25 33.33 3,610.39 TOTAL (Also enter on tine 6, Fiecapitulatan) I S 3,610.39 (Ii mae apace is needed, insert additwnal sheets of the same sae) REV-7510 EX+ (08-09) ~~`~i pennsylvania DEPARTMENT Of REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G INTER•VIVOS TRANSFERS 8r MISC. NON-PROBATE PROPERTY ESTATE OF FILE NUMBER CARL WELLER CLEAVER 2112-0220 This schedule must he comDfeted and filed iS Me answer fo arry of questions 1 through 4 on the reverse s'Ma of the REV-1500 COVER SHEET n yes. ITEM NUMBER DESCRIPTION OF PROPERTY INCLUDE TY~NAME OF TYE TRANSFEREE. TNEIRREUTrONSHIPTDDECEDENrANO TI~DATE OFTRANSFER. ATTALNACCPYOF THE DEED FOR REALESTATE. DATE OF DEATH VALUE OF ASSET %OF DECD'S INTEREST EXCLUSION PF APPi~cAN.EI TAXABLE VALUE 1. PRUDENTIAL IRA 20,574,00 100.00 20,574.00 2. LNG ANNUITY & LIFE INSURANCE 106,146.00 100.00 106,146.00 TOTAL (Also enter on line 7, Recapitulatbn) I E 126,720.00 (R more apace is needed, insert add'dronal sheets of the same s¢e) REV-1511 EX+(10-09) " pennsytvania DEPARTMENT OE REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF FILE NUMBE CARL WELLER CLEAVER 2112-0220 Oebh of decedent must be mpoTled on Schedule 1. NUMBER QESCRIPTION A. FUNERAL EXPENSES: t. CATAGNUS FUNERAL HOME 2. LUNCHEON, FLOWERS, ETC. 3. SCHELL MEMORIALS -HEADSTONE LETTERING 4. PATRIOT NEWS -ESTATE NOTICE B. ADMINISTRATNE COSTS: 1. Personal Representative's Commissbns Name of Personal Repmuntetive(s) SraetAddress City Year(s) Canmissbn Paid: 2. ~ Attorney Fees 3. Family EXemptfon: (If derAdenYS address is rwNhe same as ctehnanCs, attach explanatbn) CWananl SreetAddmas City Sate ReWtionshq M C~anaM M DecedaM 4. I Probate fees 5. Aaountant's Fees 6. Tax Return Prepareta Foes ~. HOME HEATING OIL 8. UTILITIES, SEWER & REAL ESTATE TAXES 9. HOME MAINTENANCE 10. INSURANCE 11. SETTLEMENT COSTS -HOME SALE 12. APPRAISAL FEE 12,b70.00 1,270.04 123.00 116.00 266.00 494.00 3,000,00 371.00 394.00 200.00 385.00 5,920.00 225.00 TOTAL (Also enter on line 9, RecapituWtion) I S 25,434.00 ZIP (I(more space is needed, ir15eA additional sheets of the same s¢e) REV~1812 EX+ (12-08) 'C-T pennsylvania SCHEDULE I ~ Deftna.NeNT DE aeveNUe DEBTS OF DECEDENT, INHERITANCE TA%RETURN MORTGAGE LIABILITIES & LIENS ftES10EM DECEDENT ESTATE OF FILE NUMBER CARL WELLER CLEAVER 2112-0220 Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimburud medical expenses. If more space is needed, insert additional sheets of the same size. ftEV-1513 EX« (01-10) Pennsylvania til DEPARTMENT nF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE .~ BENEFICIARIES ESTATE OF: FILE NUMBER: CARL WELLER CLEAVER 2112-0220 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not Us~,t Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS (Include outright spousal disVibutions and transfers under Sec. 9176 (a) (].Z).] 1. ANDREW C. CLEAVER SON 50.00 122 NORTH 26TH. STREET CAMP HILL, PA 17011 2 PAMELA FINNERTY DAUGH~"ER 50.00 135 GALLOPING HILL ROAD BASKING RIDGE, NJ 07920 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON UNE$ 15 THROUGH IB OF REV-1$DO COVER SHEET A S APPROPRIATE. II NON-TAXABLE DiSTRIBIfTION$ A. SPOUSA! DISTRIBUTIONS UNDEA SECTION 9113 FOR WHICH AN ELECRON TO TAX IS NOT TAKEN: 1. 8. CHARITABLE AND GOVERNMENTAL DiSTR18URONS: 1. TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-15f10 COVER SHEET. $ u more space is neetletl, use atltlRlonal sheets of paper of [he same size. I, Carl W. Cleaver, of 237 North Franklin Street, in the Borough of Boyertown, Barks County, Pennsylvania, make this will, hereby revoking all my former wills and codicils. ARTICLE L I direct thc payment, of my funeral expenses, the expenses of my last illness, the cost of a suitable tombstone, if not already provided for, and the expenses of administering my estate. ARTICLE II. I bequeath all my tangible personal property in accordance with the terms of a written memorandum that I may prepare. if no such memorandum is located or received by the personal representative within 60 days after taking office as such, upon the conducting of a reasonable seazch for such memorandum, the personal representative shall be held harmless for distributing such property as hereinafter provided. I bequeath any such property not disposed of by such memorandum, or all of such property if no such memorandum is so located or received, with the residue of my estate. ARTICLE IIL I bequeath all my National Penn Bancshares, or, if they have merged, all of the shares of the wrporation National Penn Bancshares have merged with, equally to my grandchildren, Maureen Cleaver and Patrick Cleaver, absolutely. ARTICLE IV. I devise and bequeath all the residue of my estate, r<;al and personal, as follows: One-half (%a) thereof to my son, Andrew C. Cleaver, absolutely; and, Qne-half (%:) thereof to my daughter, Pamela Ann Finnerty, absolutely. ARTICLE V. I appoint my son, Andrew C. Cleaver and my daughter, Pamela Ann Finnerty, as co-personal representatives of this will. Ifeither co-personal representative 'is unable or unwilling to act or as personal representative, for any reason whatsoever, I direct that the vacancy not be filled and the then serving personal representative serve as the sole personal representative. ARTICLE VI. No personal representative under this will shall be rc;quired to give bond or other security for the faithful performance of the personal representative's duties. ,~ IN WITNESS WHEREOF, I, Cari W. Cleaver, have hereunto set my hand and seal this _~'' day of .,~'„ ~:, ,(` ,~~~/(~,.'.,J~~Jy, 2003.~~'~~(/n ~1 ~.:./ ~:~/ ~ Y /s/ l'~,,e 1 r!c~. ~.~E.q / P/~ (SEAL) Signed, sealed, published, and declared by Carl W. Cleaver, the abeve named Testator, as and for his Last Will and Testament, in the presence of us, who at his request, in his, presence and in the presence of each other, all being present at the same time, have hereunto subscribed ow names as witnesses. ~; ~~ ~~~ Es*_ate valuation Date of Death: O1/20/7.O~i2 Estate of: Car] W Cleaver Valuation Date: O1/20/20i2 Account: 2236-1297 Processing Date: 02;16/2012 Report Type: Date cf Death Num ~er of Securities: 9 pile 1C: Carl W Cleaver-2 236-129%-DOC-1-20-12 Shares Security Mean &/c;: Div S Int Security or Par Descripticr. High/Ask Low/Bid Adj'r~ents Accruals Value 1.) 10 RVIS BUDGE'P GROUP (053779165; CRR) COM New York Stock Exchange 01/20/2012 :3.94000 '_2.89000 H/L 13.1E5000 131.65 2) 5 P}{H CORP (693320202; PHH) COM NEW New York Stock Exchange 01/20/2012 Iz.cooo6 11.70000 x/L 11.850000 59.25 3) 20 WYNDHRM WORLDWIDE CORP (98310W108; WYN} COM New York Stock Exchange O1/2U/2012 39.96000 39.73000 H/L 39.845006 796.90 9) 394.21 WESTCORE TR (957904891.; WTMVX) BLUE CHIP Mutual Fund (as quoted by NASDAQ) 01/20/2012 11.96000 Mkt 11.960000 9,116.75 5) 22413.996 FRANKLIN TAX FREE TR (359723901; FRPAX) PA T/F INCM A Mutual Fund (as quoted by NASDAQ) 01/20/2012 10.72000 Mkt 16.72'0000 296,77R.04 6) 50~ INVESCO VAN KAMPEN PR VALUE MU f9 2112T108; V?V) COM New York Stock Exchange 01/20/2012 19.38000 19.22000 Fi/L 19.306000 7,164.30 0.075 E 01/12 R 01/17 ? 01/31/12 37.56 -°age - This report was produced with Estatevai, a product of Estate valuations s Pricing Systems, Inc. Janney Mpntgemery Scoct LLC assumes no responsibility .'az accuracy or completeness of the information provided, t.hc_ Date of Death and the specific securities, which are valued. While we deem t?:is information to be reliable, we do not warranty or guarantee its accuracy. This service is not intended to constitute legal cr tax advice. You should consult with your tax professional and attorney to discuss estate settlement and any legal matters, Date cf Gear.:-,: C1/20/2012 1?state of: Carl N Cleaver Valuation Date: C1/20/2012 Account: 2236-1297 Processing Date: 02/16/2012 Report Type: Date of Ueath Number or Securities: 9 Fiie ID: Carl 'A Cleaver-2236-129'.-UvD-1-2G-12 Share; Security or Yar Description High /.A.=_k 7) 3059.323 NOVEEN MUN VALUE FD INC COM New Ycrk Stock Exchange 01J20/2012 9.93000 0.039 E 01/11 R O1/15 P C2/O1/2 8) 2.52 ZWEIG TOTAL RETURN FD 7NC {989837105; ZTR) COM New York Stock Exchange 01/20/2022 :3.15000 3.13000 H/L 3.19'.0000 ?lean &/or Div 5 SnY. Security Low/aid Adj'rner.ts Accruals Value (67D92810C; NUV) 9.89000 HiL 9.97.0O0C 30,31'.89 9) 1540.2 Cash (CASH) Total Value: Total Accrual: Tota_: $289,569.78 Page 2 ].19.31 7.91 1,40.'20 :289,912.69 $155.89 This report was produced wits EstateVal, a pred'act of Estate Valuations & ?ricing Systems, Inc. Janney Mc..^.tgomery Scot= LLC assumes no responsibility for accuracy or completeness of the information provided, th~a Date cf Ueath and the specific securities, which are valued. While we deem this information 'o be reliable, we do not warranty or guarantee its accuracy. This service is rot intended to constitute legal or tax advice. Ycc should consult with your tax professional and attorney to discuss estate sertlemenc and any legal matters. PnN•ut tdMOnt w oGtaW form HUD-1 (]/tp of H.nnbook <]Ot.] I b A. Settlement Statement U.S. Department of Housing and Urban Development NIB No. 2502-0285 nc• stract, B ~ B A 8. TYPE OF LOAN 1. i~FHA 2. QI=mHA 3. ^Conv. Unins. 4. VA 5. Conv.lna. 404 Main Street • Pennsburg, PA 1$073 8. FILE NUMBER X1'7 7. LOAN NUMBER Phone: 21 S/679-4200 • Fax: 21 S/679-4640 C.Nate: etnn nufw"m.o.e.Y+nrt N~~•~a~•n MOwnlnm Nrlnfornueop purp WARNaIO:ab•emMm mNm amr to lM UrwW saw on tldt« a o•nwatlon stn emorst a Mm aL -« m t«:7a+t +e a cea e.onpnt+~o+ B. MORTGAGEINSURANCECASENUMBER pNSnW •n na hwWadk, m•tot.b. TIneEXprea3 Settlement System MrNmeM ram. pauMW Upon .ne s.eaaf +o+o. Printed 0411112012 at 15:45 CES D. NAME OF BORROWER: KARL D. BAAS ADDRESS: E. NAME OF SELLER: THE ESTATE OF CARL W. CLEAVER, DECEASED ADDRESS: F. NAME OF LENDER: DDRESS: G. PROPERTY ADDRESS: 237 N. FRANKLIN STREET, Boyertown, PA 18512 rtown Bo h H. SETTLEMENT AGENT: 886 ABSTRACT INC. PLA E OF SETTLEMENT: 418 N 8TREET NN8BURO PA 18073 I. S EMENT DAT : O/H8f2012 J. U Y O B R A TI ; M F R' RAN CTION: 100.13ROS8 AMOUNT DUE FROM BORROWER 400.OR088 AMOUNT DUE TO BELLER 101. Contrail setae 000.00 401. deal rice 84 000.00 102. Personal 402. P al 103. Settlement rot e b bonower ins 14~ 2575.15 104. 105. Ad uatmenb for ma b sslbr I n advance A.d uatmema for name aid seller i n advance 106. flown taxes ae 107. Cou texas 407, oun 108. Schad Taxes 0411811 to08130N2 903.82 4 04118112006130H2 303,82 109. 409• 110. 410. 111. 411. 1 t2. 412, 120.OROSS AMOUNT DUE FRO BORROWER 200. AMOUNTS PAID BY OR ON EHALF OF BOR 88 878.87 ROWER 420.OR08S AMOUNT DUE'f0 SELLER 84 303.82 SDO. REDUCTIONS IN AMOUNT DUE TO SELLER 201. De same moos 1000.00 501. Excess n inatructbns 202. Prln at amount r~ew ens 502. S nt rha a to selbr line 1400 5 920.Q0 203. Exiatn n s taken sub t 503. Exlatl ban n ken sub i+ct to 404, 504. P of First Mort a Lcan 40 . 505. P d mort an 206. ~ 207. 507. -- 208. `~. 209. `~. Ad'uatmeMa for a un id seller 210. G flown ee 01i01112to04118112 288.89 5 Ad ustmerds for Items un Id b seller taxes 01~r011121004118112 288.89 211. Count taxes 511. n ea 212. School Taxes 512. School Taxes 213. t3. 214. 514. 215. 515. 416, 516. 217. 517. 218. 518. 219. 220. TOTAL PAID BYIFOR BORR WER 1288.89 51 . 520. TOTAL REDUCTION AMOUNT DUE SELLER _ 8188~891I 300. CASH AT SETTLEMENT FROM OR TO BORR OWER 800. CASH AT SETTLEMENT TO OR FROM SELL ER Pnvbue MMIOM an epblNe U.S. DEPARTMENT OF NOOSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT form NUDd pleat M Nanabeok 6106.3 file Number: $3157 PAGE 2 TiNnCm a CeNln.eeel c.,e1....~ o.:.,..a nAU mnnrn _~ re.rn nrn L. SETTLEMENT CHARGES - ~ e1 PAID FROM ~ ~.,~ y~J PAID FROM 700, TOTAL SA.I.ESrOROKER'S COMMISSION based on rave 000.00 9.000 • $040,00 BORROWER'S SELLER'S Divlel n comet 7 fdlowa: FUNDS AT FUNDS AT 701. 2$20.00 Brode 6Brooka Inc. ReaRora SETTLEMENT SETTLEMENT 702. $20.00 Rieherd Zuber R 703. Commis akl at g 040,00 800, tTEM3 PAYABLE IN CONNECTION WITH LOAN 801. Loan Od n 'on Fee % 802. Loan DlsCOUM % 803. a~ Fee 804. Cred'A 605. 806. 807. 808. _ 809. 810. 811. 900. ITEMS RE UIRED BY LEND R TO BE PAID IN ADVANCE 901, In t Fran to d 902. Mo a In Pr m to 903. HazaM Ina to 904. 905. 1000. RESERVES DEPOSITED WITN LENDER FOR 1001. Nazaro Insurance mo. Imo 1002. Mort a Insurance na. Imo 1003. Ci P Tax mo. na 1004. Count Pro Tax mo. na 1005. School Taxes m . rte 1009. A ate al is Ad'uatmenf 0.00 0.00 1100. TRLE CHARGES 1101. Settlement a Ctoakr Fee 1102. AhslraM or Title Search 1103. Title Exanlna8on 1104. Title Insure Binder 1105, Document Pre aratbn 1106. Feea Clerk 15.00 1107. Atto s fees In odes above 6 No' 1106. T Ina B&B AB8TRACT INCIFNTIC 782.7$ Indudea k No: 1109. Lendefa 1110 Own OOD.00 •7 .75 1111 1112. 1113. 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recoro Feea Geed 54.50 e ' RMease 54.50 1202. C' /Gotm tax/atarn s Deed .00 840.00 1203. tat T s .00 840.00 1204. 1205. 1300. ADDITIONAL SETTLEMENT CHARGES 1301. Tax CeAifig6on t B 6 B Abets inc. 40.00 1302. 2012 Cam h Tax 1 Glenn Wender TeX C011 902,90 1303. Final WaterlSewer t ertown Bor h 1304. 1305. 1306. 1307. 1308. TRI-COUNTY APPRAfSAL SERVICE 810.328-1390 FRAN CLEAVER, ATTORNEY CLIENT: ANDREW CLEAVER, EXEC. 122 N 28TH STREET CAMP HILL, PA 17011 File Number: 12oecals In accordance with your request, I have appraised the real property at: 220 N. READING AVENUE BOVERTOVVN, PA 19512 The purpose of this appraisal is to develop an opinion of the market value of the subject properly, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the market value of the property as of January 20, 2012 i s slao,ooo One Hunrted Thousand DoNans The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, limiting conditions and appropriate certifications. RANDAL HUGHES LIMITED APPRAISAL- SUMMARY REPORT Exterior-Only Inspection Residential Appraisal Report FNe No. 12080619 T he ur ose of this summa a raisal re ort is to rovlde the lendeddient wish an accurate, end tide uatel su orted, o rinion of the market value of the sub'ed uo art . Pr Address 220 N. READING AVENI~ C BOYERTOVJN State PA 2i Code 19512 Bonower N/A Owmrof Publk Recad CLEAVER CARL W & MARY S Count Barka L oast' tbn 80YERTOVVN BORO DEED BK 1838 PG 1119 Assessols Parcel a 33-5387-1882-7555 Tax Year 2012 R.E. Taxes S 2,837.00 Ne hhorhootl Name BOYERTOWN BOROUGH M Reference MSA 39740 Cenws Tract 0132.001 Owner Tenant Vacam Ial Assessmems S N/A PUG HOA S NIA er ear er month Pro R' MSA ailed Fee SNn Leasehold OUrer describe As' nmentT Purchase Transectbn Refmarce Transxdal Otlter descibe ESTATE PURPOSE LeMerlClient CLIENT: ANDREW CLEAVER EXEC. Address 122 N 28TH STREET CAMP HILL PA 17011 Is the w ' n cu ofered for sak or has d been offered for Sala h the aveNe months rior to me etlective dale d lNs a R Yes No Report data source(s) used, odering price(s), tint date(s). THE SUBJECT PROPERTY HAS NOT BEEN OFFERED FOF'. SALE IN THE PAST TWELVE MONTHS ACCORDING TO MLS. I did did not analyze the contract for sale fa the wbject pwdmse transadan. Ex~aM the resorts M the analyse d the rAnbed for sale or why the anarysis was not pedormad. N/A Conuad Price f N/A Dale W Conead WA Is the seller the owner d uMic raced? Yes No Data Sources N/A Is there any financial assistance (loan charges, sak concessbns, gNt a downpaymam assisteue, etc.) to Da pant by any party on behaH of the borrower? Yes No If Ves, repan Ne total dollar amount and descibe the Hams to ba yaid. NIA NIA N te. Race antl the radelcom sltlon fella net hborhooA are note eisel fet[IX5. .~"`g'... :-s;;.~ .r ik.~'xx. ~ ~~. ~ ..T!i4eE1flkawGU88% DecNn Location Urban Suburban Rlsal Valdes Increa Stable PRICE AGE One~UnA 85 % BtdH-U Over 75% 25-75% UtMer 25% Daman Shod a In Balance Over Su S(t1~) rs 2.4 Unh 2 % GraMh R Stable Slow Mark Tune UrMer3mtlts 3.6 mlhs Over6rmhs 50 LOw 0 Murti-Famil 2% Neighbod+ood 8oundades THE NEIGHBORHOOD 1S BOUNDED BY THE BOROUGH LIMITS TO THE 310 Hgh 150 CommercWl 5 % NORTH SOUTH EAST ANO ST. 135 Pretl. 81 Other VAC 6 % Neighbortrood Destriptbn See Attadred Addendum Merkel ComlNOnS (incWd'mg supper lof the above caxlusbns) THE NEIGHBORHOOD CHARACHTERISTICS FOR LOCATION AND BUILT-UP ARE ESTIMATES. VALUE DEMAND AND MARKETING 71ME ARE FROM MLS DATA. D'mrenslons 26 X 124.19 X 31.91 X 105.88 Area 3485 SD. FT. Sha IRREGULAR View AVERAGE S ifc Zorlki Classfication GR-GENERAL RES. Z Desc' 181 RESIDENTIAL: 1 FAMILY 2 STORY HALF OBL S70NE/BRICK Zoe Com lance L al I Noncom GraMfed Use No 2orN I describe Is the hghest and best use of the wbject properly as Improved (or as proposed per plans and specificatloni) tlce aesem uw7 Yes No If No, describe. Ullllties P uDllc Other tlesctlDe P ublic Other tlescrlDe Orl'~sltel ovaments-T Public Private Electric0. Water Street MACADAM Ges Sanka Sewer Alkt MACADAM FEMA S iel Food Nazard Area Yes No FEMA Food Zone X FEMA Ma ~ 4201280558E FEMA Ma Dale 12/05/1997 Are the m8lces and ofl-ske' rovemetlls at for the market area? Yes No I(No, describe. Are there any adverse sae caMarons or external factors (easements, eMroachmwts, em%zormental condN~s, land uses, etc.)? Yes No I! Yes, describe. THERE WERE NO EASEMENTS ENCROACHM NTS OR ENVIRONMENTAL CONDITIONS OBSERVED OR NOTED. THEf2E WEftE NO EXTERNAL INADEQUACIES NOTED OR OBSERVED. Sources Used for Ph kal Charadedstics of ~5a1 FiM MLS Assessnlenl and Taz Records Prim In ion Pro Owner Omer de5cdbe Data Source s fa Gross L' ' Area B.C:. TAX RECORDS x?Y > ~ One One wNh Acres UnN Concrete Slab Crawl S FWA NWBB fN ace s d 0 None Units e of Stories 2 Fop Basement FinehM Radiant _ WootlSlove s / 0 Ddvewa d of Cars 0 T Del. Att. S-Oat. End Und Petlld Basement FbNShed Outer PailolDetk NONE Drrvewa SudaceNONE Exist' led Under Const. Exterror Wads BRKlAIJd. Fue l OIL Porch 2 Gar e d of Cars i Deli n St TWIN Roof Sw(aca A.S. GanueV AN Contl'0. Pool NONE Car n a of Cars 0 Year BUi111B30 GuttersEDown ALUM. IMividual fence MDNE Anached Detached EBectiveA rs 25 lYmdowT NAOD D74i Omer NONE Other NDNE\ Budl~in liances Refr rt4a R Oven gshwasher 1 Micro wave WasherlD r Odrer describe Finished area atmve rade contains. 8 Rooms 3 Bedrooms 1 Bads s 1320 ware Feel of Gross Livi Area Above Grade Additional features (special errergy elFiciem items,etc.) PORCH PORCH ONE CAR GARAGE Describe the condNan of the property and data smace(s) firlcluding apparent rkeded repaks, detedorMbn, renovMims, remodedng, etc ). AS REQUESTED BY THE CLIENT THE SUBJECT WAS NOT INSPECTED ON THE INTERIOR. AN FJCTERIOR INSPECTION OF THE FRONT OF THE: PROPERTY WAS MADE AND THE L4MITED APPRAISAL- SUMMARY REPORT Exterior-On4v {nspection Residential Appraise{ Report FfeNo. ,2DSo6,s There ere 7 reble cu offered fa sale in die ~ bahood re in from f 50 000 to f 150 000 There are 7 can able sakS In dre hborhood rMm the sl lWBN9 mantis r in safe a hal f 50 000 to f 150 000 FEATURE SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0. 2 COMPARABLE SALE N0.3 220 N. READING AVE NUE 535 E PHILADELPHIA ST. 27 APPLE STREET 127 N WALNUT STREET Address BOYERTOWN BOYERTOVVN PA 19512 BOYERTOWN PA 18512 BOYERTOWN PA 19512 Prozi ' to Su ' 0.53 mdes SSE 0.88 miles VYS W 0.15 mdes W Sale Prke f WA f 100000 ~>~~' ;`' f 120000 ~- - { f 131000 ~ Sale Rir.&rGross IJW. Area f 0.00 . A. f 72.06 . A ~"~ e... f 94.49 d ~ ~-. `+'% -'` "~ 100.46 . ft f Data Sarc s MLSt15874882 MLSg5809173 MLSa5840000 Verifx:atbn Sources B.C. COURTHOUSE B.C. COURTHOUSE B.C. COURTHOUSE VALUE ADJUSTMENTS DESC IP110N DESCRIPTION .~s DESCRIPTION ..)sA DESCRIPTION ~JS ~xmens Sale a Finantlng E500 CONC. -500 NONE NOTED 17880 CONC. -7,880 Concessbns CON{ DM 31 CASH OM 371 OTHER OM 158 Date of SalelTane ~ 0&222011 121182011 09/012011 Laation TRAFFIC ST. TRAFFIC ST. QUIETER ST. -S.OOD QUIETER ST. -5 000 LeasehdNFee Si k FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Site 3485 SQ. FT. 3049 SOFT. 0 3485 SQ.FT. 0 2614 SQ.FT. 0 View AVERAGE AVERAGE AVERAGE AVERAGE De' Sl TWIN TWIN TW{N TWIN qua' dCastrucua AVERAGE AVERAGE AVERAGE AVERAGE Actual a 82+1- Yeera 101 YEARS 100 YEARS 83 YEARS Condition AVERAGE AVERAGE AVERAGE AVERAGE Above Grade Tda{ amens seen Tax aams sees Tax &zas eems Tax auras axm Room Coum 6 3 1 8 3 1.1 -1 000 8 3 1 6 3 1.1 -1 000 Gross ~' P~ee1D.00 1329 .h. 1388 .d. 0 1,270 .fl. 0 1,304 .d. 0 Basemen) & Finished BASEMENT BASEMENT BASEMENT BASEMENT Rooms Bebw Grade UNFINISHED UNFINISHED UNFINISHED UNFINISHED Furclional Uta' AVG: 3 BED AVG: 3 8ED AVG: 3 BED AVG: 3 8ED Heat Cod'm HWBB NONE FWA NONE FWA CIAIR -1500 FWA NONE Ens Ediclalllem5 STANDARD STANDARD STANDARD STANDARD Gass IC 1 CAR GARAGE 1 CAR GARAGE NONE 2000 2 CAR GARAGE < 000 PorcNPaliolDeck PORCH PORCH PATIO 1500 NONE 3 000 PORCH DECK 0 FIREPLACE NONE NONE NONE NONE FENCE POOL NONE NONE NONE NONE OTHER STANDA D STANDARD STANDARD STANDARD Net Ad'ustment as + f 0 + f 1 500 f 17 860 Adjusletl Sale Pnce °.^ +LS`o"~1° p` ^ Net Adj. 0.0% Net Adj. -1.3% Nel Adj. -13.8% d Com rabies =~- ~ Gross .0% f 100000 Gmss 9.8% f 118500 GmssA . 13.8% f 113140 I did did rent reseach dre sale a bansler histoy d dse subject property and canparable sales. If not, explain esearcA dq db na reveal a rior sales a bansfers d dte fa die three errs to dre eflecdve date of Nis a sisal. Data sane s 8.0. TAX RECORD6 research did dtl rro1 reveal~an sales a aamrers d die ble sales for the er to the dale d sale d the a arable sad. Data sane s B.C. TAX RECORDS R the resdts d the research aM an is d dre seM a transta tdM d Iha wb' entl c areNe saMS re rt add'a:bnal sales on e 3 . ITEM SUBJECT COMPARABLE SALE N0.1 COMPARABLE `.TALE N0.2 COMPARABLE SALE N0.3 Dale d Fria Sale/Trander N/A WA N!A N1A Price d Prior SeleRransler 0 30 10 30 Dale Sarce s B.C. TAX RECORDS B.C. TAX RECORDS B.C. TAX RECORDS B.C. TAX RECORDS 6dedNe Dale of Data Saece s 05/022012 051022012 05/022012 05/022012 Analysis of prior sale a trensfer history d the wbjed property and corrpardde sales THERE ARE Np PRIOR SALES TO REPORT ON THE SUBJECT IN THE PAST 3 YEARS. THERE ARE NO PRIOR SALES TO REPORT ON THE COMPARABLES IN THE PAST YEAR. Summary of Sales Conparisa Approach. ALL COMPS ARE SIM1lAR TW4N STYLE HOMES LOCATED IN THE SAME BOROUGH. THE MID-RANGE OF VALUE WAS GIVEN THE MOST IGHT . COMP 1 IS A STRAIGHT FRONT 74VIN NO PORCH BUT IS THE ONLY SALE ON A SIMILAR TRAFFIC STREET. THE SALE WAS GIVEN THE MOST WEIGHT DUE TO ITS SIMILARfTY 1N LOCATION. LIMITED APPRAISAL- SUMMARY REPORT Exterior-Only Inspection Residential Appraisal Refport File No. 12080819 X CommenNal uses ere bested wNhh iha s hb0dgod. Theee uses pre I of shtNar rte boNwods and DO NOT alfeq Nre market veWe or (aloe marketffiN of the su ' _ X The q k oNer Then five 6 ra ob. AI mecltarlkal ems fro hea ebgrlcd end Iumbirl~ryMems appear upon a visual exterior ins to be h w ortfer. No wamardba are h tide nblemenL X All co mole aaba are veNfled dosed aebs. X There are no a i oorb'dbns or oNtx ulrerrlerNS Nut would aNed market vaNre a future marketabd h N9s reisal Re rt. X One a more arable Baba are older Vert abc 8 monNU ob. ANh Ntare ere co rebb sin the aW s area none have sold recen Therefore saber in exoeas of sac months akf had b be reed. Aft m rebbs used were the BEST AVAILABLE. I CERTIFY AS THE APPRAISER THAT I HAVE COMPLIED WITH THE HOME VALUATION CODE OF CONDUCT IN ALL ASPECTS OF THE APPRAISAL PROCESS. II!III DISREGARD THE INTENDED USE ON PAGE 4. THE INTENDED USE FOR THIS REPORT IS FOR ESTATE PURPOSES. ~~~ Provide ad oats plromlalbn to the kvMa/cbent to ' ate Me below cast ass arM cakWalbns. Support for die opinion of spa value(summaryMromParebk laM wlesadha methods for estlmedng spa value) THE COST APPROACH WAS DEEMED UNNECESSARY THEREFORE NO SITE VALUE DATA IS PROVIDED. ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE ......................................... f Source d cost data DweN t 320 . FL riP f . = S 0 Quart red kom cost servke ENectNe date M cost dale . FI. qty i . = f CommeMS on Cost ss ~ ' area cakmadom IaGal etc, THE COST APPROACH WAS NOT PROVIDED DUE TO THE OLDER Gore fC . Fl, cry f ........ . . = S AGE OF THE SUBJECT PROPERTY. Tmal Esdmate of Cos4New ,,,..........f p Less 60 Ph iWl Fungional Exlemnl De iedon = f 0 De laced COST MIm meets ............................ .... • S 0 'AS~is' Value d Sile Im rovemenls . .. ...................... ...... f Eslmreled Remami Economrc Lpe HU and VA On 36 Years INDICATEDVALUE BY COST APPROACH ...................... =f 0 Estimated Mom Markel Renl f WA X Gross Rem 'per WA • f WA Indkaled Vebe b i Income ADaoach Summary U Income Approach (irrcludkg wppon for market rem and GRM) THE INCOME APPROACH WAS NOT USED DL1E TO LACK OF RENTAL INFORMATION. w:.6 ~.y ~.. ~. ~t: ~ ~}~, ak. r ,~,. Is the deve rNupder b wmrol of Ne Homeowners' Assodetion OA 7 Yes No unp s Detached v attached LIMITED APPRAISAL- SUMMARY REPORT Exterior-Only Inspection Residential Appraisal Report ril~so ,zososts This report form is designed to report an appraisal of a one-unit property or some-urrt properly with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an apprrisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, dia<inition of market value, statement of assumptions and limiting tnnddions, and certifications Modifications, additiore, or deletions Ro the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to inGude any additional research or anaysis necessary based on the canpiexity of this appraisal assignment Modifications or deletions to the certificatiorvis are also not permitted However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted SCOPE OF WORK: The scope of work for this appreisal is defined by the complexity of this appraisal assitytment and the reporting requiements of this appraisal reportforn, incuding the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a visu~ inspection of the exterior areas of the subject properly from at least the sheet, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public andror private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. The appraiser must be able to obtain adequate Inbrmation about the physical characteristics (including, but not limited to, condition, room count, gross living area etc.) of ttre subject property from the exeror-only in:rpection and reliable public andior private sorxces to perform this appraisal. The eppreiser should use the same type of data sources that he or she uses for comparable sales such as, buMOt limited to, multiple listing services, tax and assessment records, prior inspections, appraisal files, informatan provided by the property owner, etc. INTENDED USE: The intended use of this appraisal report is for the lenderlclieM to evaluate the property that is the subject of this appraisal br a mortgage finance transacton. INTENDED USER: The intended user of this appraisal report is the leader/client. DEFINITION OF MARKET YALUE: The most probable price which a property should bring in a competitive and open market under all corxlftions 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 consumntaGon of a sale as of a specified date and the passing of title from seller to buyer under conditions wheretry: (1) buyer and seller are typically motivateri; (2) both parties are well informed or well advised, and each acting in what he a she considers his or her own best interest; (3) .a reasonade lime 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 unafrected by spedal or creative finandng or sales concessions' granted by anyone assodated wkh 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 resuR of tredRbn or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. SpeGal or creative finarx:ing adjustments can be made to the comparable property by comparisons to financing terms offered by a thircJ party institutional lender that is not already involved in the properly or transaction. Any adjustment should not be celcu~ted on a mechanical dollar for dollar cost of the financing or corcession but the dollar amount ofany adjustment should approximate the markets reaction to the (Wanting or concessions based on the appreisers judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the pnaperly being appraised or the title to it, except for informatbn that he or she became aware of during the reaeardt involved in performing this appraisal. The appraiser assumes that the titre is good and marketable and will not render any opinions about the title. 2. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has rroted in Mis appr~sal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appreiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 3. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless spedfic arrangemens to do so have been made beforehand, or as otherwise required by law. 4. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wasps, toxic substances, etcJ observed daring the Irepection of the subject property or that he or she begme aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraser has no knowledge ofany hidden or unapparent physical defldencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warran0es, express or implied. The appraiser will not be responsible for any such condtions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the apprei<,zr is not an excert in the field of LIMITED APPRAISAL- SUMMARY REPORT Exterior-Only Inspection Residential Appraisal Report FWeNO. ,zosos,s APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees than 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a visual inspedron of the exterior areas of the subject property from at least the street. I reported the condition of the improvements in factual, spec'Aic terms. I identified and reported the physigl deficiencies that could afred the livability, soundness, or stnrctural integrity of the property. 3. I performed this appraisal in accordance with the regldrements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by Me Appraisal Standards Board of The Appraisal Fouruiation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the sut~ed of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales cemloarison approach for this appraisal assignment 1 further certify that 1 considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, atxl reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appreisal, and the prior sales of the subject property for a minimum of three years prior to the effedNe date of this appraisal, unless otherwise indicated in this report. 8. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locetionally, physicelty, and fundionaly the most similar to the subject property. 8. 1 have not used comparable sales that were the result of combirrng a land sale with the oorstrad purchase price of a home that has been built or will be built on the land. 9. i have reported adjustmerts to the comparable sales that reflect the market s reaction to the differences between the sut>jed property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as muRiple listing services, tax assessment records, pudic land records and other such data sources for the an;a in which the property is located. 13. I obtained the information, estimates, and opinions famished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to tYle subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conrifions (such as, but nd limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, eta) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have amsidered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. 1 have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true end correct. 16. I stated in this appraisal report my own personal, unbiased, and professional anetysis, opinions, and conclusions, which are subject only to the assumptions and Ilmiting conditions in this appraisal report. 17. I have no presets or prospective interest in the property that is the suf~jed of this report, and I have no present or prospective personal interest or bias with reaped to the partidpants in the transadim. I did not base, either partialy or completely, my analysis and/or opinion of market value in this appreisal report on the race, color, religion, sex, age, marital status, handicap, familid status, or national origin of either the proapedNe owners or occupants of the subject property or of the presets owners or occupants of the properties in the vidnity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensationfor perforning this appraisal or any future or antidpated appraisalswas not conditimed on any agreement or understanding, written or otherwise, that I would report (or preserrt analysis slpporting) a predetermined spedfic value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any parry, or the attainment of a specific resuk or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all condusions and opiniore about the real estate that were set forth in this appraisal report If I relied on significant real oroDertv aooraisal assistanoa from env individual or individuals in the mertnrmanrn of this annralaal nr rno LIMITED APPRAISAL- SUMMARY REPORT ResidentialAppraisal Report Ftle Na. 12060619 22. I am aware that anydisdosure or distribution ofthis appraisal report by me or the lenderlclient may be subject to certain laws and regr~ations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borower, another lender at the request of the borovrer, the mortgagee or its successors and assigns, mortgage insurers, government sponsored eMerprisea, and other secondary market partidpants may rely on this apprasal repot as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic. signature,' as those terms are defined in applicabe federal ancYor state laws {excluding audio and video reooMings), or a facsimile transmission of this appraisal report corrtaining a copy or representation of my signature, the appraisal repel shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my origins hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but cwt limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAI8ER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that 1. I directly supervised the appraiser for this appraisal assgnment, have read the appraisal report, and agree vdth the apprasef s analysis, opinions, statements, condusona, and the appraiser's certification. 2. I accept full responability for the contents of this appraisal report inducting, but not limited to, the appraiser's analysis, opinions, statements, condusions, and the appraiser's certification. 3. The appraiser identfied in this appraisal repot is either asub-contractor or an employee of the supervisory appraiser (or the apprasal firm), is qualified to perform this appraisal, and is acceptable to perform this appreisral under the applicable state law. 4. This appraisal report complieswith the Unibrm Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this apEreisa report was prepared. 5. If this appraisal report was transmitted as an "electronic record° containing my "electronic signature," as those terms are defined in applicatie federal anryor state laws (exduding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable end valid as if a paper version of this appraisal report were delivered containing my origins hand written sigrnature. APPRAISER Signature c~ 1'') /L~ Name RANDAL HUGHES Company Name TRI-COUNTY APPRAISAL SERVICE Company Address 2tt7 E. HIGH ST. POTTSTOVJN, PA 19484 Telephone Number 81032&1390 Email Address ORDERS~TRICOUNTYAS.NEr Date of Signature and Repot 08/182012 Effective Date of Appraisal 01/202012 State Certification # RL-001330.L or State License # or Other (describe) State # State PA Expiration Date of Certification or License oel3orzot3 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Name Company Name _ Company Address Telephone Number _ Email Address Date of Signature _ State Certification # _ or State License # _ State Expiryion Date of Certification or License LIMITED APPRAISAL- SUMMARY REPORT Exterior-Only Inspection Residential Appraisal Report File Na. 12080619 FEATURE SUBJECT 220 N. READING AVENUE Address BOYERTOWN Proxlml to Suo' ' =2; ° "~ Sale Price f WA Sak PdcelGross liv. Arce f 0.00 . A. Data Sources ; `vfi ~ Verificalbn Sourte s VALUE ADJUSTMENTS yDESCRIPTION COMPARABLE SALE N0.4 134 SCHAEFFER STREET BOYERTOWN PA 19512 0.18 mlbs W f 137000 f 82.53 A. ~^ .. *: MLSf5895597 B.C. COURTHOUSE DESCRIPTION ..s COMPARABLE SALE N0. !i .''"~ f f A. ,, ~: ~ "'" ' ~ '.. DESCRIPTION .~fk COMPARABLE SALE N0.6 S f . A. DESCRIPTION .~s wrea Sale or Financing Concessions Dale of SalelTxne $7400 CONC. OTHER OM 140 11!232011 -7,400 _ Locetion TRAFFIC ST. QUIETER ST. -5 000 LeaseMldlFee S' k FEE SIMPLE FEE SIMPLE Site View 3485 SD. FT. AVERAGE 8086 SOFT. AVERAGE •1 000 ' n SI TWIN TWIN uaP of Canstruaiai Actual A AVERAGE 82*/-Years AVERAGE 81 YEARS Condkion AVERAGE AVE RAGE Above Grade TpN alms Bak Taal aenm Bads TGeI &Yns, BdM TqN Brims aims Room Count 8 3 1 8 3 1 Gress ' ~ Area 10.00 1320 . A. 1880 . A. -3 500 . ft. s . A. Basement & Finished Rooms Bebw Grade BASEMENT UNFINISHED BASEMENT UNFINISHED fuixtional UtilA AVG: 3 B D AVG: 3 BED Hearin Coolin HW88 NONE HWBB NONE Ene EA'cient Items STANDARD STANDARD Gar Car 1 CAR GARAGE 1 CAR GARAGE PachlPalblDeck PORCH,PORCH E.PORCH E.PR -3 000 FIREPLACE NONE NONE FENCE POOL NONE NONE OTHER Net Ad'uSlment oral STAN " DARD ~ '~'~° -~ ~ STANDARD . f 19 900 . f . 1 Adjusted Sek Price of COm rebles ` '1" ~- '• ~'~ '~ •°~ Net Atlj. -74,5% Gross 14.5% f 1171D0 Nel Ag. Gress % % f Net Adj. % Gross '. % f ITEM SUBJECT COMPARABLE SALE N0.4 COMPARABLE SALE N0. 5 COMPARABLE SALE NO. B Date of Prbr Sale/Transler N/A WA Prke of Prbr SNe/frensfer SO $0 Data Sources B. .TAX RECORDS B.C. TAX RECORDS EBeclive Dalee of Dete Sourc s 051022012 05!022012 Summery of Sales Comparison Approach ADDENDUM Borrovror NIA File No.: 12080819 ProoeM Addreaa: 220 N. READING AVENUE Caine No.: Cit : BOVERTOWN State: PA Zio: 19812 Lender. CLIENT: ANDREW CLEAVER, EXEC. NEIGHBORHOOD DESCRIPTION ROUTE 73, 562, AND 100 ARE REACHED FROM THE SUBJECT WHICH PROVIDES G000 ACCESS TO REGIONAL SHOPPING AND EMPLOYMEN T. All AMENITIES INCLUDING SCHOOLS ANO SHOPPING'. ARE LOCATED WITH A SHORT DRIVING DISTANCE. EMPLOYMENT IS STABLE. THE BOROUGH IS MADE UP OF A MIXTURE OF SINGLES, TWINS, AND ROW HOMES RANGING IN SIZE, AGE, AND AMENITIES. ACCORDING TO THE CENSUS INFORMATION, THERE ARE 1885 TOTAL HOUSING UNIT:i, 1001 OWNER OCCUPIED UNITS, 804 RENTER OCCUPIED UNITS, AND BO VACANT UNITS. THE MEDIAN HOUSE AGE IS 61. SUBJECT PROPERTY PHOTO ADDENDUM Borrower: wA File IVO.: lzosaal9 PfopeflY AddfeSS'22pN READING AVENUE CaSQ!NO.: ~' BOYERTOWN $la[e: PA Zlp: 19512 LeOdef: CLIENT: ANDREW CLEAVER, EXEC. FF'ONT VIEW OF SLIBJECTPROPERTY Appraised Date: January 20, zolz Apppraised Value; S 100,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE COMPARABLE PROPERTY PHOTO ADDENDUM Barower• wA File No.: 12oeaels P(OpertyAdflfe55'220N READING AVENUE CaseNo.: Oily' BOYERTOVM State: PA ZIp: 19512 LeRdeP CLIENT' ANDREW CLEAVER EXEC. COMPARABLE SALE#1 535 E PHILADELPHIA ST. BOVERTOWN, PA 19512 Sale Date: oarzzrzoll Sale Price: S 1oo.ooo COMPARABLE SALE#2 27 APPLE STREET BOYERTOWN, PA 19512 Sale Date: 1zn5rzo11 Sale Price: $ 1zo,ooo COMPARABLE SALE N3 127 N WALNUT STREET EIOYERTOWN, PA 19512 Sale Date: oaro1rz011 Sale Prke: S 131.000 COMPARABLE PROPERTY PHOTO ADDENDUM Borrower wA File No.: 1zo5as19 PrppeflV AddfeSS' 220 N READING AVENUE Case No.: ~' BOYERTOWN $lale: PA Zip: 19512 lefldeC CLIENT: ANDREW CLEAVER, EXEC. COMPARABIESALE#4 134 SCHAEFFER STREET BOYERTOWN, PA 19512 Sale Date: 1 v2arzo11 Sale Price: 8 13T,ooo COMPARABLE SALE #5 Sale Date: Sale Price: 3 COMPARABLE SALE #6 Sale Date: Sale Price: S PLAT MAP ~'``w`y i '~," ~l rrl 21di `'~. "~. I q~ ~' J ~'~.. _ 212 "`f ~ ' ,~, r; ~r~ ~ ~~ ~ x:. ~I F r `~.+.. r' f r~ ,~ x' rt. ~.'. ' i~ ~ .` ., ! f ~ r' aao ~`' f~L, ~l ~~ "" Y \ F !' 253 LOCATION MAP Borrower: wA File No.: 12osa519 PrOpefry AddfeSS: 220 N. READING AVENUE Case No.: ~: BOYERTOWN $lale: PA Zlp: 19512 Letldef: CUEN7: ANDREW CLEAVER EXEC. Qo la~a ~ i I sC h i O~ ~~ e F e~ ~ I ~~St ~~ ~~~ y` ~' ,, ~ . _DiQ. ~~ ~~ ,~ ,c ~ ~~ ~ Comparable Sale 4 134 SCha~(fer St ~ G~'~ *- ~ ~ Bayertown, PA 195 ~ Subject j +~ 12 (0.16 miles W) c ~ 220 N Reading Ave I ~~ ~, ~ ~, BoYertown, PA 19512 ' G t~~ Comparable Sale 3 `~.. , 127 N Walnut St Boyertown, PA 19512 h`' (0.15 miles W) ~ c y ha Avg r~lade p N { a r F h F6 ~' s, 4r ~ r Q ~,w,`` ~ Vv. ~ h ~, h ~ °'h hs~ J~ C S~ s~ c o ,mo c~; Or ~ '~~ ~,c Ly a fi~,Pt ~ ~~ ~a S Comparable Sale 2 ~~ a a~ ~~ ~ 2 ~ fer Or 27 Apple St A ,,+`'` h'~, li a Bo ertown PA 19512 s~• as 5t F J ~ ' ,~, Y , f (0.66 miles WSW) 5 . ~ ~t 2 F ,yam yw ~~ ,, c F ~ '~ ' ~ 562 'I :~ ,~~, _ ~. ,, S~~~ J~ ~ ~'~. 4~ ~ .~. 4t"~ ~,~ , f ~`~ ~,~~dJ ~ , t ~ y'" ; 5 ~ ~T 4~~ fx w~ y ~ A 5 t~Y,~' ~'sr -~ _ ~ , 4~ 5. 3~ yy., ~ ~°~ ~ Comparable Sale 1 ~ . ~ , ~, ~ ~, ~F,~, ~~; ~, y 535 E Philadelphia Ave ~ 2~ ~.~ '~ Boyertown, PA 19512 ~ ,~ 4p: m° Q~' ~ ,~O . (0.53 miles SSE) 1' 1 . ~. y'~ h~. ~ Rh~ 4`~ .~ `~ aasgye ~ `~ F2 ~Sr ~~'~c a I i ~~ ~rst ~4 h> `oe F~ 1 c ~~` ~ ~~0 •Q,Sr 1 ~ ~ v