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HomeMy WebLinkAbout10-11-12 1505610140 REV-T 500 EX (°'-'°' PA Department of Revenue OFFICIAL USE ONLY Bureau of Individual Taxes County Code Year File Number Po Box 2sosol INHERITANCE TAX RETURN Harrisburg, PA 17128-0601 RESIDENT DECEDENT 2 1 1 2 0 0 1 1 2 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Deat h MMDDYYYY Date of Birth MMDDYYYY 0 1 1 6 2 0 1 2 1 2 0 4 1 9 3 7 Decedent's Last Name Suffix Decedent's First Name MI D e W A L T J R G E O R G E W (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number FILL IN APPROPRIATE OVALS BELOW THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS Q 1. Original Return ~ 2. Supplemental Return ~ 3. Remainder Return (date of death prior to 12-13-82) 4. Limited Estate ~ 4a. Future Interest Compromise (date of ~ 5. Federal Estate Tax Return Required death after 12-12-82) QX 6. Decedent Died Testate ~ 7. Decedent Maintained a Living Trust 1 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) 9. Litigation Proceeds Received ~ 10. Spousal Poverty Credit (date of death ~ 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. O) CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0: Name Daytime Telephone Number R O G E R M M O R G E N T H A L E S Q 7 1 ? 2 3 4 2,.4 0 1 First line of address 4 4 3 1 N F R O N T S T Second line of address 3 R D F L O O R City or Post Office State H A R R I S B U R G P A ZIP Code n REGISTE _ LLS USE(3R~LY r- ,r~i R~ -~ f-'> ~..; r-- ~ . } " ~ ~_ . cr.: s:.J l } - C ~ ~ ~ f~ DATE FILED C.."'1 1 7 1 1 0 ,~~ C7 r C.7 rn c r-~ i T1 Correspondent's a-mail address: RMORGENTHALna,SASLLP.COM Under penalties of perjury, I deGare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIGNA E OF ERSO R NSIBLE FO FILING RETURN DAT ADDRESS 275 MEADOWS RD NEWVILLE PA 17241 SIG OF PR RER OTHER THAN RE RESENTATIVE DAT ~ Z ADDRE 4431 N• FRONT T• 3RD FLOOR HARRISBURG PA 17110 PLEASE USE ORIGINAL FORM ONLY Side 1 1505610140 1505610140 1505610240 REV-1500 EX Decedent's Name: GEORGE W• DeWALT, JR• Decedent's Social Security Number RECAPITULATION 1. Real Estate (Schedule A) ......................................... .. 1. 3 3 8 6 6 9. 2 8 2. Stocks and Bonds (Schedule B) .................................... .. 2• 3. Closely Held Corporation, Partnership or Soie-Proprietorship (Schedule C) ... .. 3. 4. Mortgages and Notes Receivable (Schedule D) ........................ .. 4. 3 7 ~ 8 1 . D 7 5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E)..... .. 5. 6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ..... .. 6. 1 D 5 5 6 5 . 3 8 7. Inter-Vivos Transfers 8 Miscellaneous N-Probate Property ~ 3 4 9 8 6 3 7 Separate Billing Requested ..... (Schedule G) .. 7. . 8. Total Gross Assets (total Lines 1 through 7) ......................... .. 8. 5 1 7 0 0 2 • 1 D 9. Funeral Expenses and Administrative Costs (Schedule H) .................. 9. 3 0 5 0 1 • 3 5 10. Debts of Decedent, Mortgage Liabilities, and Liens (Schedule I) ............. 10. 3 5 5 9 0 . 8 1 11. Total Deductions (total Lines 9 and 10) ............................... 11. 6 6 0 9 2 . 1 6 12. Net Value of Estate (Line 8 minus Line 11) .................. ... ..... .. 12. 4 5 0 9 D 9 . 9 4 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) ............. .. ..... .. 13. 14. Net Value Subject to Tax (Line 12 minus Line 13) ............. .. ..... .. 14. 4 5 D 9 0 9 . 9 4 TAX CALCULATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2)x.o _ 0. 0 0 15. O. D 0 16. Amount of Line 14 taxable at lineal rate X .0 D. 0 0 16. 0. 0 0 17. Amount of Line 14 taxable 4 5 0 9 0 9 9 4 17 5 4 1 0 9 1 9 . at sibling rate x .12 . . 18. Amount of Line 14 taxable at collateral rate X .15 0 D D 18. 0. D O 19. TAX DUE ............................................. .. ..... ..19. 5 4 1 0 9. 1 9 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT ^ Side 2 1505610240 1505610240 J REV-1500 EX Page 3 Decedent's Complete Address: File Number 21 12 00112 DECEDENT'S NAME GEORGE W. DeWALT, JR. STREET ADDRESS 277 MEADOWS RD. CITY NEWVILLE STATE PA ZIP 17241 Tax Payments and Credits: ~. Tax Due (Page 2, Line 19) 2, CreditslPayments A. Prior Payments 52,000.00 B. Discount 2,705.46 3. Interest 4. If Line 2 is greater than Line 1 + Line 3, enter the difference, This is the OVERPAYMENT. Fill in oval on Page 1, Line 20 to request a refund. 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. Total Credits (A + B) (2) 54,705.46 (1) 54,109.19 (3) (5) (4) 596.27 0.00 Make check payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred : ................................................................ ..... ^ b. retain the right to designate who shall use the property transferred or its income; .......................... .... ^ c. retain a reversionary interest; or ........................................................................................... ..... ^ d. receive the promise for life of either payments, benefits or care? .................................................. ..... ^ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .................................................................................. .. . X 3. Did decedent own an "in trust for" orpayable-upon-death bank account or security at his or her death? .... ..... ^ 4. Did decedent own an individual retirement account, annuity or other non-probate property, which contains a beneficiary designation? ............................................................................................. ..... 0 ^ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994, and before Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse i~ 3 percent [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent [72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: • The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is 0 percent [72 P.S. §9116(a)(1.2)J. • The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5 percent, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. • The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1502 EX+ (01-10) pennsylvania ~ SCHEDULE A DEPARTMENT OF REVENUE INHERITANCE TAX RETURN REAL ESTATE RESIDENT DECEDENT ESTATE OF: FILE NUMBER: GEORGE W. DeWALT JR. 21 12 00112 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts, Real property that is jointly-owned with right of survivorship must be disclosed on Schedule F. Attach a copy of the settlement sheet if the property has been sold. ITEM Include a copy of the deed showing decedent's interest if owned as tenant in common. VALUE AT DATE NUMBER OF DEATH DESCRIPTION 1. 277 MEADOWS ROAD, NEWVILLE PA 17241 122,000.00 SEE ATTACHED APPRAISAL FROM DIVERSIFIED APPRAISAL SERVICES 2. 273 MEADOWS RD, NEWVILLE PA 17241 68,000.00 SEE ATTACHED APPRAISAL FROM DIVERSIFIED APPRAISAL SERVICES 3. 288 MEADOWS RD, NEWVILLE PA 17241 50,000.00 SEE ATTACHED APPRAISAL FROM DIVERSIFIED APPRAISAL SERVICES 4. 305 BURGNERS RD, NEWVILLE, PA 52,100.00 SEE ATTACHED APPRAISAL FROM DIVERSIFIED APPRAISAL SERVICES 5. 103 FAIRFIELD ST., NEWVILLE PA 17241 46,569.28 UNDER INSTALLMENT SALE CONTRACT -DATE OF DEATH BALANCE TOTAL (Also enter on Line 1, Recapitulation.) I $ 338,669.28 If more space is needed, use additional sheets of paper of the same size. REV-1508 EX+ (11-10) pennsylvania SCHEDULE E DEPARTMENT OF REVENUE CASH, BANK DEPOSITS, 8~ MISC. INHERITANCE TAX RETURN RESIDENT DECEDENT PERSONAL PROPERTY ESTATE OF: FILE NUMBER: GEORGE W. DeWALT, JR. 21 12 00112 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. CITIZENS BANK CHECKING ACCOUNT #XXXX553824 1,653.96 HELD WITH DECEASED WIFE DORIS LEHMAN, WHO DIED ON 11/1/06 2. F & M TRUST BANK SAFE DEPOSIT BOX (SEE ATTACHED INVENTORY SHEET) 0.00 HELD WITH DECEASED WIFE DORIS DeWALT, WHO DIED ON 11/1/06 3. PERSONAL PROPERTY -SEE APPRAISAL OF ROWE'S AUCTION SERVICE 33,270.00 ATTACHED 4. RENT RECEIVED FOR FEBRUARY, 2012 - 288 MEADOWS DRIVE, NEWVILLE PA 606.98 (PRORATED THRU 2/22/12) 5. RENT RECEIVED FOR FEBRUARY, 2012 - 305 BURGNERS ROAD, CARLISLE PA 455.18 (PRORATED THRU 2/22/12) 6. DEATH BENEFIT -FRATERNAL ORDER OF EAGLES 500.00 7. DEATH BENEFIT FROM FAILOR-WAGNER POST 421 100.00 8. REFUND -AMERICAN COLLECTORS INSURANCE 24.40 9. REFUND - MILLVILLE MUTUAL INSURANCE COMPANY (TRAILER INS). 44.00 10. ADAMS ELECTRIC COOPERATIVE, INC. 651.07 DIVIDEND AND COOPERATIVE SHARE RETURN 11. AMERICAN PROGRESSIVE INSURANCE -REFUND PREMIUMS AUTOMATICALLY 225.48 DEDUCTED AFTER DEATH 12. IPA RENT REBATE 2012 I 250.00 TOTAL (Also enter on Line 5, Recapitulation) I $ 37,781.07 If more space is needed, insert additional sheets of paper of the same size REV-1509 EX+ (01-10) pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE F JOINTLY•OWNED PROPERTY ESTATE OF: FILE NUMBER: GEORGE W. DeWALT, JR. 21 12 00112 If an asset was made jointly owned within one year of the decedent's date of death, it must be reported on Schedule G. SURVIVING JOINT TENANT(S) NAME(S) A. DARRELL W. DeWALT ADDRESS 370 MEADOWS RD NEWVILLE PA 17241 TO DECEDENT B. C. JOINTLY•OWNED PROPERTY: BROTHER ITEM NUMBER LETTER FOR JOINT TENANT DATE MADE JOINT DESCRIPTION OF PROPERTY INCLUDE tJAME OFFINANCIACINSTITUTtOfl-Aft~BANKTI000UNtNUMBER-OR SIMttAR IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE. DATE OF DEATH - - VALUE OF ASSET °~ OF - DECEDEf~FS- INTEREST DATE OF DEATH -- - -VALUE OF --- DECEDENT'S INTERESI 1, A. 10/83 PARCEL #13-019-101.08 LOCATED IN INDIANA 521.00 50. 260.50 COUNTY, PA; TAX ASSESSED VALUE 2. A. 9/10 F & M TRUST BANK CHECKING #XXX801 28,759.62 50. 14,379.81 3. A. 9/10 F & M TRUST BANK MONEY MANAGEMENT #XXX423 125,350.13 50. 62,675.07 4. A. 11/04 110 FAIRFIELD ST., NEWVILLE PA 17241 56,500.00 50. 28,250.00 SEE ATTACHED APPRAISAL TOTAL (Also enter on Line 6, Recapitulation) I $ 105,565.38 If more space is needed, use additional sheets of paper of the same size. REV-1510 EX+ (08-09) Pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G INTER-VIVOS TRANSFERS AND MISC. NON-PROBATE PROPERTY ESTATE OF FILE NUMBER GEORGE W. DeWALT, JR. 21 12 00112 This schedule must be completed and filed if the answer to any of questions t through 4 on page three of the REV-1500 is yes. ITEM NUMBER DESCRIPTION OF PROPERTY INCLUDETHENAMEOFTHETRANSFEREE,THEIRRELATIONSHIPTODECEDENTAND THE DATE OFTRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE. DATE OF DEATH VALUE OF ASSET %OFDECD'S INTEREST EXCLUSION (IF APPLICABLE) TAXABLE VALUE 1. T. ROWE PRICE 401K; BENEFICIARY DARRELL 34,986.37 100.00 34,986.37 W. DeWALT, BROTHER. TOTAL (Also enter on Line 1, Recapitulation 5 34 986.37 If more space is needed, use additional sheets of paper of the same size. REV-1511 EX+ (10-09) pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER GEORGE W. DeWALT, JR. 21 12 00112 Decedent's debts must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1. EWING BROTHERS 10,134.34 2. CHURCH RENTAL/PASTOR FEE 356.00 3. EBY GRANITE WORKS -ENGRAVING ON MARKER 119.00 B. ADMINISTRATIVE COSTS: 1. Personal Representative Commissions: Name(s) of Personal Representative(s) DUSTIN K, DeWALT Street Address 275 MEADOWS ROAD City NEWVILLE State PA Zip 17241 Year(s) Commission Paid: 2012 2. Attorney Fees: SMIGEL, ANDERSON & SACKS, LLP 3, Family Exemption: (If decedent's address is not the same as claimant's, attach explanation,) Claimant 4. 5. 6. 7. 8. 9. 10 11 12 13 14 15 16 17 18 Street Address City State _ Relationship of Claimant to Decedent Probate Fees: CUMBERLAND COUNTY Accountant Fees: Tax Return Preparer Fees: 2011 & 2012 PERSONAL FINAL INCOME TAXES; FIDUCIARY INCOME TAXES PAXTON HERALD -LEGAL AD CUMBERLAND LAW JOURNAL -LEGAL AD CUMBERLAND COUNTY RECORDER OF DEEDS -TRANSFER OF 5 PROPERTIES ROWE'S AUCTION SERVICE -PERSONAL PROPERTY APPRAISAL DIVERSIFIED APPRAISAL SERVICES -APPRAISAL OF 5 PROPERTIES SUBURBAN PROPANE -FINAL EDMIL FUEL -FINAL ADAMS ELECTRIC -FINAL CENTURYLINK- FINAL DISH NETWORK -FINAL CUMBERLAND COUNTY REGISTER OF WILLS -SHORT CERTIFICATES AMERICAN PROGRESS INSURANCE 5,000.00 6,000.00 448.50 900.00 208.00 75.00 318.00 145.00 1,750.00 807.41 26.87 230.46 26.74 15.57 40.00 234.96 TOTAL (Also enter on Line 9, Recapitulation) I $ ZIP 1.35 If more space is needed, use additional sheets of paper of the same size. Continuation of REV-1500 Inheritance Tax Return Resident Decedent GEORGE W. DeWALT, JR. 21 12 00112 Decedent's Name Page 1 File Number Schedule H -Funeral Expenses 8 Administrative Costs - B7. ITEM NUMBER DESCRIPTION AMOUNT 19. SOLLENBERGER'S MESSENGER SERVICE -TRANSFER VEHICLE TITLES 302.00 20. RESERVE -DUSTIN DEWALT, EX., COSTS TO TRANSFER INDIANA CO. PROPERTY 173.50 21. RESERVE -DUSTIN DEWALT, EX. -FILING RETURN AND INVENTORY 30.00 22. RESERVE -DUSTIN DEWALT, EX. -FILING ACCOUNTING/ADVERTISING 420.00 23. RESERVE- DUSTIN DEWALT, EX. -TRANSFER OF 103 FAIRFIELD ST. NEWVILLE PA WHICH IS UNDER INSTALLMENT CONTRACT (1/2 TOTAL COSTS) 2,740.00 SUBTOTAL SCHEDULE H•B7 I 3,665.50 REV-1512 EX+ (12-OB) pennsylvania SCHEDULE DEPARTMENT OF REVENUE DEBTS OF DECEDENT, INHERITANCE TAX RETURN MORTGAGE LIABILITIES, ~ LIENS RESIDENT DECEDENT ESTATE OF FILE NUMBER GEORGE W. DeWALT, JR. 21 12 00112 Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. CITIZENS BANK LINE OF CREDIT #XXXX4371 27,611.34 2. LEGAL FEES DUE TO SMIGEL, ANDERSON & SACKS, LLP AT TIME OF DEATH FOR 720.00 REAL ESTATE MATTER 3. PINNACLE HEALTH -MEDICAL BILL 1,750.00 4. NEWVILLE COMMUNITY AMBULANCE YEARLY DUES -CHECK CLEARED AFTER 75.00 DATE OF DEATH 5. RESERVE- DUSTIN DEWALT, EX. -FINAL INCOME TAXES DUE 2012 1,000.00 6. RESERVE -DUSTIN DEWALT, EX. -MISCELLANEOUS MEDICAL BILLS 500.00 7. IRS - 2011 FEDERAL PERSONAL INCOME TAX DUE 1,601.00 8. PA DEPARTMENT OF REVENUE - 2011 PERSONAL INCOME TAX DUE 798.00 9. PINNACLE HEALTH MEDICAL SERVICES -MEDICAL EXPENSE 1,391.47 10. ERIE INSURANCE EXCHANGE -FINAL BILL HOMEOWNERS' INSURANCE 25.00 11. ERIE INSURANCE EXCHANGE -FINAL BILL AUTOMOBILE INSURANCE 51.00 12. ERIE INSURANCE EXCHANGE -FINAL BILL MOBILE HOME PROTECTOR INSURANCE 68.00 TOTAL (Also enter on Line 10, Recapitulation) I S 35.590.81 If more space is needed, insert additional sheets of the same size. REV-1513 EX+(Ot-10) Pennsylvania ~ SCHEDULE J DEPARTMENT OF REVENUE BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF: FILE NUMBER: (:Ff1Rl;F W TIeWAT T TR 71 17 nnl 12 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 outr'ght spousal distributions and transfers under Sec. 9116 (a) (1.2).] 1. DARRELL W. DeWALT Sibling 450,909.94 370 MEADOWS RD. NEWVILLE PA 17241 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER S HEET, AS APPROPRIATE. II. NON-TAXABLE DISTRIBUTIONS: 1. A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN: B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS: 1. TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $ If more space is needed, use additional sheets of paper of the same size. REV-1500 Discount, Interest and Penalty Worksheet Discount Calculation Total Amount Paid within three calendar months of the decedent's date of death: 52,000.00 Discount: 2,705 Interest Table Year Days Delinquent this time period Balance Due this year Interest this period Before 1981 1982 1983 1984 1985 1986 1987 1988 throu h 1991 1992 1993 throu h 1994 1995 throu h 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 throu h 2012 TOTALS Penalty Calculation If the decedent's date of death was on or before March 31, 1993, insert the applicable amount: Total Balance Due on January 17, 1996: Penalty: LAST WILL AND TESTAMENT ',:^ ~ ~'^~ `rr GEORGE W . DEWALT , JR . '-~> ~ cr. _:.. ~ _- -r~ '~ ~ _ ...~ ~" ~ ~ ~ = y i ~ GEORGE W. DEWALT, JR., of 277 Meadows I Road ~ ~~ `~'~ , Newville, Cumberland County, Pennsylvania, being of sound and disposing mind, memory and understanding, do hereby make, publish and declare this as and for my Last Will and Testament, hereby revoking all other wills and codicils heretofore made by me. FIRST I direct the payment of my debts and the expenses of my last illness and funeral from my estate as soon after my death as conveniently may be done. Further, in this connection, I authorize my personal representative to expend funds from my estate, in such amount as my personal representative shall consider necessary and desirable for the purchase, erection and inscription of a suitable marker for my grave. SECOND I direct that my Executor shall pay all taxes that are incurred by reascr. of my death, including bath federal and state, from the remainder of my Estate. THIRD All the rest, residue and remainder of my estate, of whatever nature or wherever situate, I give, devise and bequeath unto my brother, DARRELL W. DEWALT, should he survive me by a period of thirty (30) days. Should my said brother predecease me or fail to survive me by thirty (30) days, then I give, devise and bequeath all the said rest, residue and remainder to my nephew, DUSTIN K. DEWALT. FOURTH All income or principal held for the use and benefit of the beneficiaries of this Estate shall not be in any way or manner subject to anticipation, assignment, pledge, sale or transfer, nor shall any such interest, while in the possession of my Executor, be liable for or subject to the debts, contracts, obligations, liabilities or torts of any beneficiary, or to attachments, executions or sequestrations under process of law. If any beneficiary of the Estate shall, in the sole opinion of my Executor, be or become mentally or physically incapacitated, by reason of illness, accident, minority or other circumstance, my Executor may apply either income or principal for the support and welfare of such beneficiary directly or to the person who has the care and control of such beneficiary, without the intervention of any Trustee and without obligation to supervise application of 2 said amounts in any way. FIFTH I authorize my personal representative to carry on any business owned or controlled by me at my death for whatever period of time he shall think proper, and he shall have the power to do any and all things he deems necessary or appropriate, including the power to borrow and to pledge assets contained in my estate as security for such borrowing, and the power to close out, liquidate or sell the business at such time and upon such terms as to him shall seem best. n rvmtT I nominate, constitute and appoint my brother, DARRELL W. DEWALT, as Executor of this my Last Will and Testament. Should my said brother fail to qualify or cease to act as Executor, I appoint my nephew, DUSTIN K. DEWALT, as Substitute Executor of this my Last Will and Testament. I relieve my personal representative (as well as any substitute) from the necessity of posting security in connection with his duties as such in any jurisdiction in which he may be called upon to act insofar as I am able by law to do so. SEVENTH In addition to the powers conferred by law, I authorize my Executor (and his successors) in his absolute discretion: A. To retain in the form received, and to sell either 3 at public or private sale any real or personal property. B. To manage real estate. C. To invest and reinvest in all forms of property without being confined to legal investments, and without regard to the principle of diversification.. D. To exercise any option or rights arising from ownership of investments. E. To compromise claims without court approval, and without the consent of any beneficiary. F. Should any beneficiary, in the opinion of my personal representative, be incapacitated, said beneficiary's share shall pass to the appointed trustee to be held and administered in the same manner during the period of incapacitation. IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will and Testament, on this the-~ ~i~day of December, 2006. .~-~/.-: r ~~ ~.. t -- ~ ~ , - ( SEAL ) GEORGE W . DEWAL'P', ~ JR . 4 Signed, sealed, published and declared by the above named testator GEORGE W. DEWALT, JR., as and for his Last Will and Testament, in the presence of us, who, at his request, in his sight and presence, and in the sight and presence of each other, have hereunto subscribed our names as witnesses. f ~~ %/~'~~~.,~"~` ~'~-~~ d~, 2515 N. Front Street, Harrisburg, PA 17110 ~/~ /4,,~`~ ~.~~ 2515 N. Front Street, Harrisburg, PA 17110 5 COMMONWEALTH OF PENNSYLVANIA: ss COUNTY OF CUMBERLAND We, GEORGE W. DEWALT, JR., ROGER M. MORGENTHAL and DEBRA R. MEHAFFIE, the testator 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 testator signed and executed the instrument of his Last Will, and that he signed willingly and that he executed as his free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the testator, signed the Will as witnesses, and that to the best of their knowledge, the testator was at the time eighteen (18) years of age or older, of sound mind and under no constraint or undue influence. Sworn to and subscribed before me hIOTJIRMI SEMI QEiQAAH A COLIN: Notary PuOMC CIriLMIE ~0. CINY~{IMp COfMIY IIM Comtllllbn ~w ~ ~.'Ot0 6 this t.,t ~ ~" day of December, 2006. APPRAISAL REPORT 277 MEADOWS ROAD NEWVILLE, PENNSYLVANIA PREPARED FOR ESTATE OF GEORGE W. DEWALT JR. BY LARRY E. FOOTE DIVERSIFIED APPRAISAL SERVICES 35 EAST HIGH STREET, SUITE 101 CARLISLE, PENNSYLVAI`1IA 17013-3052 (717)249-2758 COPY SUMMARY OF IIVIPORTANT FACTS AND CONCLUSIONS LOCATION: 277 Meadows Road Newville, Pennsylvania TAX PARCEL NUMBER: 15-040-393-O10A IMPROVEMENTS: One-story detached single-family mobile dwelling. PROPERTY RIGHTS: Fee simple interest. OWNERSHIP HISTORY: The subject property is owned by George W. Dewalt Jr. The property last transferred on May 17, 2006 for a reported consideration of $1.00 and ownership conveyed on Deed Book 274 page 2864. SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the subject's area, an inspection of the subject property, an estimation of the property's highest and best use, consideration of all three .approaches to value, and the application of those relevant to the valuation of the subject. CLIENT: Estate of George W. Dewalt Jr. INTENDED USER: Estate of George W. Dewalt Jr. OBJECTIVE: To estimate the market value of the subject property as unencumbered. EFFECTIVE DATE: January 1.6, 2012. INSPECTION DATE: February 8, 2012. HIGHEST AND BEST USE: Continued use as asingle-family residence. COST APPROACH: N.A. SALES APPROACH: $122,000 INCOME APPROACH: N.A. FINAL VALUE CONCLUSION: $122,000 2 THE VALUATION PROCESS The valuation process is defined in The Appraisal of Real Estate as published by the Appraisal Institute, as "a systematic set. of procedures an appraiser follows to provide answers to a client's questions about real property value." It consists of a series of steps that are appropriate to a specific and particular appraisal assignment that begins with a client engaging a real estate appraiser to develop an opinion of value for a specific property as of a given effective date and ends when the appraiser communicates and reports the final conclusions and opinions to the client. Dellnition of the Appraisal Problem: The fast step in the appraisal process includes the presentation of the following: 1. Identification of the client, the intended use, and the intended users of the appraisal report. 2. The purpose of the appraisal, including a definition of the value being reported. 3. Determination of the effective date of the appraisal report. 4. Extraordinary assumptions that are applicable to the appraisal assignment. 5. Hypothetical conditions that are applicable to the appraisal assignment. Scope of Work: Scope of work is defined in the Uniform Standards of Professional Practice as being "the type and extent of research and analyses in an assignment " This includes the degree and extent of research and the data that is deemed as necessary to develop a credible opinion of value for the property being appraised. Data Collection and Analysis: The appraiser must gather and analyze market area data, subject property data, and comparable property data that is relative and relevant to the appraisal assignment. Development aad Application of Traditional Approaches to Value: The appraiser must consider which of the three traditional approaches to value are applicable, relevant, and necessary for developing a credible opinion of value for the subject property. These three traditional approaches to value include the Cost Approach, Sales Comparison Approach, and Income Capitalization Approach. When two or more of these approaches to value are developed, the appraiser must determine the amount of emphasis and consideration to be given to each of those approaches to value, since one or more may have greater significance in the appraisal of a specific property. Reconciliation of Value Indications and Final Opinion of Value: The final step in the valuation process is the reconciliation of the value indications developed by the appraiser. Reconciliation is the analysis of alternative conclusions to arrive at a final value estimate. Reconciliation is required because different value. indications result from the use of multiple approaches to value and within the application of a single approach. The final value estimate is not derived simply by applying technical and quantitative procedures, rather, it involves the exercise of judgment, and the value conclusion reached must be consistent with market thinking. APPRAISAL CERTIFICATION I hereby certify that upon application far valuation by: Estate of George W. Dewalt Jr. the undersigned personally inspected the following described property: All that certain piece or parcel of land, with the improvements thereon erected, situate in Lower Mifflin Township, Cumberland County, Pennsylvania, bounded and described as follows: Beginning at a railroad spike in the centerline of Township Road No. T-418 on the line of Lot No. 2 on the hereinafter mentioned plan of Lots; thence along the latter North 48 degrees 53 minutes 54 seconds East a distance of 1,356.07 feet in an iron pin on the line of land now or formerly of Isabella D. Donaghy; thence along the latter, South 41 degrees 10 minutes 12 seconds East, a distance of 297.34 to an iron pin on the line of a cemetery; thence along the latter, South 44 degrees 26 minutes 54 seconds West, a distance of 136.27 feet to an iron pin; thence along the same, South 39 degrees 34 minutes 50 seconds East, a distance of 136.12 feet to an iron pin; thence along the same North 39 degrees 33 minutes 18 seconds East, a distance of 181.50 feet to an iron pin on the line of land now ar formerly of Donald E. Rowe; thence along the Latter, South 31 degrees 31 minutes 30 seconds East a distance of 585.83 feet to an iron pin on the line of land of R. Gregor; thence along the latter South 50 degrees 06 minutes 53 seconds West a distance of 364.25 feet to a hub at stones on the line of land of Marlin L. Mayberry; thence along the latter, North 45 degrees 09 minutes 00 seconds West; a distance of 676.97 feet to a twin locust tree; thence along the same, South 44 degrees 29 minutes 30 seconds West, a distance of 349.36 feet to an iron pin on the line of lot no. 3 on said plan; thence along the latter North 26 degrees 47 minutes 12 seconds West, a distance of 243.58 feet to as iron pin; thence along the same, South 48 degrees 53 minutes 54 seconds West, a distance of 653.11 feet to a point; thence along the latter North 13 degrees 17 minutes 08 seconds West a distance of 65.90 feet to a point; thence along the same, North 11 degrees 21 minutes 45 seconds West 48.05 feet to the place of beginning. To the best of my knowledge and belief the statements contained in this report are true and correct, and that neither the employment to make this appraisal nor the compensation is contingent upon the value reported, and that in my opinion the Market Value as of January 16, 2012 is: ONE HUNDRED TWENTY -TWO THOUSAND DOLLARS $122,000 5 The property was appraised as a whole, subject to the contingent and limifiing conditions outlined herein. ~ ~~ Larry E. Foote Pa. Certified General Appraiser GA-000014-L Beth A. Shenk Appraiser Trainee INTENDED USE OF THE APPRAISAL The intended use of this appraisal is to estimate the Market Value of the subject property as of January 16, 2012. Market Value is defined as 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: a. Buyer and seller are typically motivated. b. Both parties are well informed or well advised, and each acting in what he considers his own best interest. c. A reasonable time is allowed for exposure in the open market. d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto. e. 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. Source: Office of the Comptroller of the Currency, 12 CFI §34.42(f j. HIGHEST AND BEST USE Highest and Best Use is defined by the Appraisal Terminology and Handbook, published by the Appraisal Institute, as "the most profitable likely use to which a property can be put". The opinion of such use may be based on the highest and most profitable continuous use to which the property is adapted and needed, or likely to be in demand, in the reasonable near future. However, elements affecting value that depend upon events or a combination of occurrences which, while within the realm of possibility, are not fairly shown to be reasonably probable, should be excluded from consideration. Also, if the intended use is dependent on an uncertain act of another person, the intention cannot be considered. Based on the above definition and after seeing the site, neighborhood, and area, it is my opinion that the present use of the subject is its Highest and Best Use. 7 SITE DATA ADDRESS: 277 Meadows Road, Newville, PA 17241 TOWNSHIP: Lower Mullin Township COUNTY: Cumberland STATE: Pennsylvania LOT SIZE: 11.47 acres SEWERS: On-site septic. WATER: Well. ELECTRICITY: Adams Electric. LANDSCAPING: Typical for the area, with a sodded lawn, trees and shrubs. DETRIMENTAL INFLUENCES None. Pride of ownership is evident throughout the neighborhood. DESCRIPTION OF IMPROVEMENTS GENERAL DESCRIPTION: One-story detached single-family mobile dwelling containing approximately 924 square feet of gross living area above grade. CONDITION: Exterior. Good Interior: Good ROOMS: First Floor: Living room, kitchen, dining room, three bedrooms, two bathrooms. EXTERIOR: Foundation: Concrete block, crawl space. Walls: Aluminum. Sash: Single-glazed. Gutters: Aluminum, painted. Roof: Gable, with metal. Storm units: Yes. 8 INTERIOR, PRINCIPAL ROOMS: Flooring: Vinyl, carpet. Walls: Paneling. Ceilings: Drywall. Trun: wood. KITCHEN: Cabinets: Wood. Counters: Laminate. Walls: Paneling. Flooring: Vinyl. Sink: Double-bowl, stainless steel. BATHROOM: Flooring: Carpet. Walls: Paneling. Bathtub: Built-in, with shower. Lavatory: Vanity. Water closet: Two-piece. Medicine cabinet: Wall mounted. HEATING: Oil fired forced air, Propane wall units. COOLING: Central Air Conditioning. HOT WATER: Electric, 44-gallon, ELECTRIC: Circuit breaker system, 144-ampere. OTHER: GENERAL CONDITION: All improvements are considered to be in good condition on the interior and on the exterior, with mechanical systems appearing to be adequate and functioning properly. 9 THE APPRAISAL PROCESS Three approaches to value are generally included in an appraisal report. These techniques include the cost approach, sales comparison approach, and income approach to value. The cost approach to value is based on the assumption that the reproductian cost of a building plus land value, tends to set the upper limit to value. A key assumption is that a newly constructed building would have advantages over the existing building, therefore an evaluation focuses upon disadvantages or deficiencies (depreciation} of the existing building compared to anew facility. Due to the age of the subject improvements, the cost approach is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. The sales comparison approach to value assumes that under normal conditions, a given number of parties acting intelligently and voluntarily, tend to set a pattern from which value can be estimated. Application of this approach relies on a comparison of the subject with a sufficient number of recent transactions of comparable properties in the market, based on a common unit, such as price per square foot of building area. The income approach concerns itself with present worth of the future potential benefits of a properly. The initial estimate involves the net income, which a fully informed person is justified in assuming the property will produce during its remaining useful life. This estimated net income is then capitalized into a value estimate, based upon the level of risk as compared with that of a similar type and class. Since homes similar to the subject are not typically utilized as income-producing investment properties, the income approach to value is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. 10 SALES COMPARISON APPROACH In arriving at this conclusion of the value of the subject property, the appraiser made a survey of properties that have sold in the area of the subject property. Consideration was given and adjustments were made on each comparable sale as to time of sale, size, location, as well as all other factors that might affect value. A resume of some of the sales considered by the appraiser is as follows: SALE NO. 1: Location: Date of Sale: Sale Price: Size: Unit Price: SALE NOs~: Location: Date of Sale: Sale Price: Size: Unit Price: SALE NO. 3: Location: Date of Sale: Sale Price: Size: Unit Price: 30 Valley Road, Newville OS/20/20l 1 $129,000 1,056 square feet. $122.16 per square foot. 24 Fox Lane, Newville 02/14/2011 $115,000 1,500 square feet. $76.66 per square foot. 261 Newburg Road, Newburg 11/08/2011 $52,500 1,548 square feet. $33.91 per square foot. The appraiser, in addition to the sales listed, also considered several additional sales in arriving at his final opinion of value. On the Sales Comparison Analysis form that follows this page are dollar adjustments reflecting market ruction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of the subject; if a significant item in the comparable is inferior to, or .less favorable than, the subject property, a plus (+) adjustment is made, thus increasing the indicated value ofthe subject. After making all of the necessary adjustments, it is the appraiser's considered opinion that the indicated value of the subject property by the Sales Comparison Approach is $122,000. 11 SALES COMPARISON ANALYSIS ITEM SUBJECT COMPARABLE #1 COMPARABLE #2 COMPARABLE #3 277 Meadows Road 30 Valley Rd 24 Fox Lane 26l Newburg Rd Address Newville Newvilk Newviile Newburg Proximity to Subject 10.90 miles 6.41 miles 13.02 miles Sale pry N.A $129,000 5115,000 $52,500 Price / Sq. Pt. GLA N.A. 5122.16 S76.b6 533.41 Data Source Iaspcctian CPivII.~lOt93864, Courthouse Coutthouse CPMLil10212528, Courthouse ADJUSTMENTS DESCRIPTION DESCRIPTION $ Adjust. DESCR1PTION $ Adjust. DESCRIPTION $ Adjust. Saks or Finanoing Conventional-seller Unknown FHA- seller paid Concessions paid closing cost fbr -5,000 closing cwt for -564 buys. 55,000 buyer. $564.45 Date of Sale /Time As oP 01/16/IOl2 05/20/20!1 02/14/2011 11/08ROI 1 Locateon Average Average Avenge Average Site !View 11,47 acres 5.29 acres +12,400 4.37 acne +14,200 1.04 acres +20,900 Design and Appeal Mobile home Mobile home Mobile home Mobile home Constrttcdion Aluminum s[ding Vinyl siding Vinyl siding Aluminum siding Age 23 years 39 years 39 years 23 years Condition Good t3ood Good Fair +2,000 Above Grade Tot. Bed. Bath Tot. Bed. Bath Tat. Bed. Bath Tot. Bed. Bath Roam Count S 3 2 4 2 1 +4,000 6 2 1 6 3 2 -2,000 Groan Living Aroa 924 square feat 1,056 square feet -2,6~ 1,500 square feet -11,500 1,348 square fed -1.2,500 Basement &Finished Rooms Bebw Grade Cnwi space Crawl space Crawl space None +500 Functional U ' A Similar Similar Similar Heating /Cooling Oil feed fiartace/ Kerosene forced air/ +2,000 Eledrie forced sir/ no +2,000 Kerosate forced air/ cetttrd air no oeMral as central air central air / 2-2 oar 3 car +1000 I car +3 000 1 cm' +3 000 ponce pace p~ D~ Porch, deck -500 Porch Pool eta Special Energy Typical for the Efficient Items ~. Similar Similar Similar F' s None F lace 500 Gas lace -500 None Other (e.g. kitdtat 3 outbuildings, pole Outbuilding +L,000 2 car carport, paved None +1,500 equip., ranodeling) shed, equipment abed driveway, outbuilding Net +12 00 +6 700 +12 836 Indicated Value ofSub'ed 5141 $121700 $65 36 FINAL INDICATED VALUE OF SUBJECT PROPERTY: $122,000 12 CORRELATION Correlation may be defined as "the bringing together of parts in a proper relationship" The parts of this appraisal report are the following approaches to value your appraiser used: Value Indicated by Cost Approach N.A. Value Indicated by Sales Comparison Approach $122,000 Value Indicated by Income Approach N.A. These approaches are representative of the market value of the subject property. I have carefully reexamined each step in each method, and I believe the conclusions accurately reflect the attitude of typical purchasers of this type property in this neighborhood. It is my belief that this reexamination has confirmed the original conclusions. The Cost Approach will result is an excellent estimate if all elements are figured accurately, because no prudent person will pay more for a property than the cost to produce a substitute property with equal desirability and utility. Purchasers of the type of dwelling typical of the subject property are more concerned with amenities than with hypothetical replacement of the property. Due to the age of the subject improvements, the Cost Approach is considered to be inappropriate and has not been included in this appraisal report. The Sales Comparison Approach was based on several recent sales of properties similar to that of the subject, all of which are located in the same general area. The adjusted sales prices are most consistent under comparison. This approach is the most reliable because it reflects the reactions of typical buyers and sellers in the market. The Income Approach is most applicable to income producing properties or properties that are primarily utilized for income producing purposes. Purchasers of income producing properties are willing to pay no more for a particular property than the net operating income will support. Since the majority of properties similar to the subject are not utilized for income producing purposes, this approach to value has not been included in this appraisal report. Therefore, as a result of this appraisal and analysis, it is this appraiser's considered judgment and opinion that the Market Value of the subject property, as of January 1 b, 2012, is: ONE HUNDRED TWENTY =TWO THOUSAND DOLLARS $122,000 13 UNDERLYING ASSUMPTIONS AND LIMITING CONDITIONS SUBJECT TO THIS APPRAISAL 1. I assume no responsibility for matters legal in nature, nor do I render any opinion as to the title, which is assumed to be marketable. The property is appraised as though under responsible ownership. 2. The legal description used herein is correct. 3. I have made no survey of the property, and the boundaries are taken from records believed to be reliable. 4. I assume that there are no hidden or unapparent conditions of the property, subsoil or structures which would render it more or less valuable. I assume no responsibility for such conditions or for engineering which might be required to discover such factors. S. The information, estimates, and opinions furnished to me and contained in this report were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy can be assumed by me. 6. This report is to be used in its entirety and only for the purpose for which it was rendered. 7. Neither ail nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser or the firm with which he is connected} shall be reproduced, published, or disseminated to the public through advertising media, public relations media, news media, sales media, or any other public means of communication, without the prior written consent and approval of the appraiser. 8. This appraisal was prepared under the extraordinary assumption that any easements or rights of way of record have no adverse impact upon the highest and best use or value herein reported. A title search was not requested nor included in the scope of work for this assignment. 9. This appraisal was prepared for the exclusive use of the client identified in this appraisal report. The information and opinions contained in this appraisal set forth the appraiser's best judgment in light of the infonoaation available at the time of the preparation of this report. Any use of this appraisal by any other person or entity, or any reliance or decisions based on this appraisal are the sole responsibility and at the sole risk . of the third party. The appraiser accepts no responsibility for damages suffered by any third party as a result of reliance on or decisions made or actions taken based on this report. 14 CERTIFICATE OF APPRAISAL Your appraiser hereby certifies that: 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 unbiased professional analyses, opinions, and conclusions. 3. I have no present of prospective interest in the properly that is the subject of this report, and no personal interest with respect to the parties invalved. 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 for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 7. To the best of my knowledge and belief, the statements ~ of fact contained in this appraisal report, upon which the analyses, opinions, and conclusions expressed herein are based, are true and correct. 8. This appraisal report sets forth -all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions, and conclusions contained in this report. 9. This appraisal report has .been made in conformity with the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation, and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of the National Association of Realtors Appraisal Section. 15 10. No one other than. the undersigned prepared the analyses, conclusions, and opinions concerning real estate that are set forth in this appraisal report. E. Foote Pa. Certified General Appraiser GA-000014-L Beth A. Shenk Appraiser Trainee 16 PRIVACY NOTICE Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1, 2001, appraisers, along with all providers of personal financial services are now required by federal law to inform their clients of the policies of the firm with regard to the privacy of client nonpublic personal information. As professionals, we understand that your privacy is very important to you and are pleased to provide you with this information. In the course of performing appraisals, we may collect what is known as "nonpublic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessary disclosure would be to our independent contractors, and in certain situations, to unrelated. third party consultants who need to know that information to assist us in providing appraisal services to you. All of our independent contractors and any third party consultants we engage are informed that any information they see as part of an appraisal assignment is to be maintained in strict confidence within the firm. A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal action to which you are a party. We will retain records relating to professional services that we have provided to you far a reasonable time so that we are better able to assist you with your needs. In order to protect your nonpublic personal information from unauthorized access by third parties, we maintain physical, electronic and procedural safeguards that comply with our professional standards to insure the security and integrity of your information. 17 LARRY E. FOOTS REAL ESTATE APPRAISER EXPERIENCE: 1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa. Principal Broker, LaRue Development Company, Carlisle, Pa. 1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa. 1972-1976: Realtor Associate, Jack Gaugheri Realtor, Carlisle, Pa. Appraisal experience included undeveloped land, farms, building tots, single-family dwellings, mobile home parks, medical centers, nursing homes, motels; apartment buildings and complexes, office buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, daycare centers, warehouses, and manufacturing facilities. EDUCATION: Bachelor of Business Administration, Pennsylvania State University, 1976. Associate Bachelor of Business Administration, Han~isburg Area Community College, 1974. Diploma, Carlisle Senior High School, 1965. Certificate, Pennsylvania Realtors Institute, GRI >i GRI II, GRl III. Certificate, Realtors National Marketing Institute, CI I01, CI 102, CI 103, CI 204, CI 105. Standards of Professional Practice, American Institute of Real Estate Appraisers. Real Estate Appnusal Principles, American Institute of Real Estate Appraisers. Residential Valuation, American Institute of Real Estate Appraisers. Appraisal Procedures, Appraisal Institute. Principles of Income Property Appraising, Appraisal Institute. Case Studies in Real Estate Valuation, Appraisal Institute. Report Writing and Valuation Analysis, Appraisal Institute. PROFESSIONAL LICENSES: General Appraiser #GA-000014-L, Commonwealth of Pennsylvania. Real Estate Broker #RB-029729-A, Commonwealth of Pennsylvania. PROFESSIONAL DESIGNATIONS EARNED: GRI: Graduate of the Pennsylvania Realtors Institute, awarded by the Pennsyl- vania Association of Realtors. CRS: Certified Residential Specialist, awarded bythe Realtors National Market- ing Institute of the National Association of Realtors. CC1M: Certified Commercial Investment Member, awarded by the Realtors National Marketing Institute of the National Association of Realtors. PROFESSIONAL ORGANIZATION AFFILIATIONS: National Association of Realtors Appraisal Section. Greater Hamsburg Association of Realtors. Pennsylvania Association of Realtors. National Association of Realtors. Realtors National Marketing Institute. _ 18 rnsT C>r~r1TS: Borough of Carlisle Keystone Financial Mortgage Cornerstone Federal Credit Union Pennsylvania State Bank Commerce Bank Cumberland-Perry Association for Retarded Citizens Carlisle Suburban Authority Members 1"` Federal Credit Union Pennsylvania National Bank Evans Financial Corporation Greenawalt & Company, CPA Smith's Transfer Corporation Carlisle Department of Parks and Recreation Executive Relocation Services Carlisle Area School District Messiah Homes, Incorporated ERA Eastern Regional Services Pennsylvania Turnpike Commission Chase Home Mortgage Corporation Defense Activities Federal Credit Union Pennsylvania State Employees Credit Union PNC Mortgage Corporation F&M Trust Company National City Mortgage Corporation Washington Mutual Home Loans, Inc. Prudential Relocation Services Lender's Choice Market Intelligence, Incorporated United Telephone Employees Federal Credit Union Cumberland County Commissioners Allstate Enterpr;ses Mortgage Corporation Dickinson College FPG Industries, Incorporated Gettysburg, College Redevelopment Authority of Cumberland County Record Data Appraisal Services, Incorporated First United Federal Savings Association Fulton Bank United .States Marshall Service GMAC Mortgage Corpon~tion On~stown Bank Letterkenny Federal Credit Union BancPlus Mortgage Corporation Coldwell Banker Relocation Services, Incorporated Central Pennsylvania Savings Bank Mellon Hank Provident Home Mortgage Corporation Drovers Bank American Home Bank Trans Union M&T Mortgage Corporation Cody Financial Mortgage Services Waypoint Bank Northwest Savings Bank Blue Ball National Bank Adams County National Bank Countrywide Home Loans Aarrow Mortgage Various law firms and individuals 19 PHOTOGRAPHS OF THE SIIBJECT IlViPROVEMENTS 20 STREET SCENES AT THE SUBJECT PROPERTY 2i 22 COMPARABLE SALE NO. 1 SUBJECT PROPERTY LOCATION MAP 23 APPRAISAL REPORT 273 MEADOWS ROAD NEWVILLE, PENNSYLVANIA PREPARED FOR ESTATE OF GEORGE W. DEWALT JR. BY LARRY E. FOOTE DNERSIFIED APPRAISAL SERVICES 35 EAST HIGH STREET, SUITE 101 CARLISLE, PENNSYLVANIA 17013-3052 (717) 249-2758 COPY. SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS LOCATION: 273 Meadows Road Newville, Pennsylvania TAX PARCEL NUMBER: 15-040-393-036 1MPROVEMENTS: One-story detached single-family mobile dwelling. PROPERTY RIGHTS: Fee simple interest. OWNERSHIP HISTORY: The subject property is owned by George W. Dewalt Jr. The property last transferred on May 17, 2006 for a reported consideration of $1.00 and ownership conveyed on Deed Book 274 page 2860. SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the subject's area, an insp~tion of the subject property, an estimation of the property's highest and best use, consideration of all three approaches to value, and the application of those relevant to the valuation of the subject. CLIENT: Estate of George W. Dewalt Jr. INTENDED USER: Estate of George W. Dewalt Jr. OBJECTIVE: To estimate the market value of the subject property as unencumbered. EFFECTIVE DATE: January 16, 2012. INSPECTION DATE: February 8, 2012. HIGHEST AND BEST USE: Continued use as asingle-family residence. COST .APPROACH: N.A. SALES APPROACH: $68,000 INCOME APPROACH: N.A. FINAL VALUE CONCLUSION: $68,000 2 TAE VALUATION PROCESS The valuation process is defined in The Appraisal of Real Estate as published by the Appraisal Institute, as "a systematic set of procedures an appraiser follows to provide answers to a client's questions about real property value." It consists of a series of steps that are appropriate to a specific and particular appraisal assignment that begins with a client engaging a real estate appraiser to develop an opinion of value for a specific property as of a given effective date and ends when the appraiser communicates and reports the final conclusions and opinions to the client. Defutition of the Appraisal Problem: The first step in the appraisal process includes the presentation of the fallowing: 1. Identification of the client, the intended use, and the intended users of the appraise! report. 2. The purpose of the appraisal, including a definition of the value being reported. 3. Determination of the effective date of the appraisal report. 4. Extraordinary assumptions that aze applicable to the appraisal assignment. 5. Hypothetical conditions that are applicable to the appraisal assignment. Scope of Work: Scope of work is defined in the Uniform Standards of Professional Practice as being "the type and extent of research and analyses in an assignment," This includes the degree and extent of research and the data that is deemed as necessary to develop a credible opinion of value for the property being appraised. Data Collection and Analysis: The appraiser must gather and analyze market area data, subject property data, and comparable property data that is relative and relevant to the appraisal assignment. Development and Application of Traditional Approaches to Value: The appraiser must consider which of the three traditional approaches to value are applicable, relevant, and necessary for developing a credible opinion of value for the subject properly. These three traditional approaches to value include the Cost Approach, Sales Comparison Approach, and Income Capitalization Approach. When two or more of these approaches to value are developed, the appraiser must determine the amount of emphasis and consideration to be given to each of those approaches to value, since one or more may have greater significance in the appraisal of a specific properly. Reconciliation of Value Indications and Final Opinion of Value: The final step in the valuation process is the reconciliation of the value indications developed by the appraiser. Reconciliation is the analysis of alternative conclusions to arrive at a final value estimate. Reconciliation is required because different value indications result from the use of multiple approaches to value and within the application of a single approach. The final value estimate is not derived simply by applying technical and quantitative procedures, rather, it involves the exercise of judgment, and the value conclusion reached must be consistent with market thinking. APPRAISAL CERTIFICATION I hereby certify that upon application for valuation by: Estate of George W. Dewalt Jr. the undersigned personally inspected the following described property: All that certain piece or parcel of land, with the improvements thereon erected, situate in Lower Mifflin Township, Cumberland County, Pennsylvania, bounded and described as follows: Beginning at a point on the dividing line between Lots Nos. 3 and 5 on the hereinafter mentioned Plan of Lots; said point being a railroad spike located in the cartway of Township Road 418, also known as Meadows Road, thence along said boundary line North 48 degrees S3 minutes 54 seconds East, six hundred fifty-three and eleven one hundredths (653.11) feet to an iron pin; thence South 26 degrees 47 minutes 12 seconds East, two hundred forty-eight on hundredths (243.58) feet to an iron pin on the boundary line of Lot No. 3 and land now or formerly of Marlin L. Mayberry; thence South 44 degrees 29 minutes 30 seconds West, three hundred ninety-three and zero hundredths (393.00} feet to an iron pin; thence South 75 degrees 42 minutes i 7 seconds West, forty-five and forty-six one hundredths (45.46} feet to an existing iron pin; thence South 48~degrees 52 minutes 42 seconds West, one hundred fifty-six and seventy one hundredths {152.70) feet to a nineteen inch hickory tree; thence North 56 degrees 42 minutes 58 seconds West, one hundred sixty and twenty-six one hundredths (160.26} feet to a railroad spike in the cariway of Township Road 418; thence continuing by and through same, North 19 degrees 58 minutes O1 seconds West, sixty-seven and fiileen one hundredths (67.15} feet to a point; thence continuing along same North 13 degrees 17 minutes 08 seconds West, thirty-two and fifty-eight one hundredths (32.58) feet to a railroad spike on the boundary line of Lot Nos. 3 and 5 on the hereinafter mentioned Plan of Lots, the point and place of beginning. To the best of my knowledge and belief the statements contained in this report are true and correct, antl that neither the employment to make this appraisal nor the compensation is contingent upon the value reported, and that in my opinion the Market Value as of January 16, 2012 is: SIXTY -EIGHT THOUSAND DOLLARS $68,000 5 The property was appraised as a whole, subject to the contingent and limiting conditions outlined herein. Larry E. Foote Pa. Certified General Appraiser GA-000014-L Beth A. Shenk Appraiser Trainee 6 INTENDED USE OF THE APPRAISAL The intended use of this appraisal is to estimate the Market Value of the subject property as of January 16, 2012. Market Value is defined as 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: a. Buyer and seller are typically motivated. b. Both parties are well informed or well advised, and each acting in what he considers his own best interest. c. A reasonable time is allowed for exposure in the open market. d. Payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto. e. 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. Source: Office of the Comptroller of the Currency, 12 CFI §34.42(fj. HIGHEST AND BEST USE Highest and Best Use is defined by the Appraisal Terminology and Handbook, published by the Appraisal Institute, as "the most profitable likely use to which a property can be put". The opinion of such use may be based on the highest and most profitable continuous use to which the property is adapted and needed, or likely to be in demand, in the reasonable near future. However, elements affecting value that depend upon events or a combination of occurrences which, while within the realm of possibility, are not fairly shown to be reasonably probable, should be excluded from consideration. Also, if the intended use is dependent on an uncertain act of another person, the intention cannot be considexed. Based on the above definition and after seeing the site, neighborhood, and area, it is my opinion that the present use of the subject is its Highest and Best Use. 7 SITE DATA ADDRESS: 273 Meadows'Road, Newville, PA 17241 TOWNSIiiP: Lower Mifflin Township COUNTY: Cumberland STATE: Pennsylvania LOT SIZE: 3.b7 acres SEWERS: On-site septic. WATER: Well. ELECTRICITY: Adams Electric. LANDSCAPING: Typical for the area, with a sodded lawn, trees and shrubs. DETRIMENTAL INFLUENCES None. Pride of ownership is evident throughout the neighborhood. DESCRIPTION OF IMPROVEMENTS GENERAL DESCRIPTION: One-story detached single-family mobile dwelling containing approximately 912 square feet of gross living area above grade. CONDITION: Exterior: Fair Interior: Fair ROOMS: First Floor: Living room, kitchen, three bedrooms, bathroom. EXTERIOR: Foundation: Concrete block, crawl space. Walls: Vinyl. Gutters: Aluminum, painted. Roof: Gable, with metal. Sash: Single-glazed. . Storm units: Yes. 8 INTERIOR, PRINCIl'AL ROOMS: Flooring: Carpet. Walls: Paneling. Ceilings: Drywall. Trim: Wood. KITCHEN: Cabinets: Wood. Counters: Laminate: Walls: Paneling. Flooring: Vinyl. Sink: Dauble-bowl, stainless steel. BATHROOM: Flooring: Carpet. Walls: Paneling. Bathtub: Built-in, with shower. Lavatory: Vanity. Water closet: Two-piece. Medicine cabinet: Wall mounted. HEATING: Oil fired forced air. HOT WATER: Electric, 30-gallon. ELECTRIC: Circuit breaker system,100-ampere. OTHER: GENERAL CONDITION: Ali improvements are considered to be in fair condition on the interior and on the exterior, with mechanical systems appearing to not function properly at time of inspection. 9 THE APPRAISAL PROCESS Three approaches to value are generally included in an appraisal report. These techniques include the cost approach, sales comparison approach, and income approach to value. _ The cost approach to value is based on the assumption that the reproduction cost of a " building plus land value, tends to set the upper limit to value. A key assumption is that a newly constructed building would have advantages over the existing building, therefore an evaluation focuses upon disadvantages or deficiencies (depreciation) of the existing building compared to anew facility. Due to the age of the subject improvements, the cost approach is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. The sales comparison approach to value assumes that under normal conditions, a given number of parties acting intelligently and voluntarily, tend to set a pattern from which value can be estimated. Application of this approach relies on a comparison of the subject with a sufficient number of recent transactions of comparable properties in the market, based on a common unit, such as price per square foot of building area. The income approach concerns itself with present worth of the future potential benefits of a property. The initial estimate involves the net income, which a fully informed person is justified in assuming the property will produce during its remaining useful life. This estimated net income is then capitalized into a value estimate, based upon the level of risk as compared with that of a similar type and class. Since homes similar to the subject are not typically utilized as income-producing investment properties, the income approach to value is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. 10 SALES COMPARISON APPROACH In arriving at this conclusion of the value of the subject property, the appraiser made a survey of properties that have sold in the area of the subject property. Consideration was given and adjustments were made on each comparable sale as to time of sale, size, location, as well as all other factors that might affect value. A resume of some of the sales considered by the appraiser is as follows: SALE NO. 1: Location: Date of Sale: Sale Price: Size: Unit Price: SALE NO. 2: Location: Date of Sale: Sale Price:. Size: Unit Price: SALE NO. 3: Location: Date of Sale: Sale Price: Size: Unit Price: 304 Nealy Road, Newville 12!27/2011 $65,000 840 square feet. $77.38 per square foot. 1022 Centerville Road, Carlisle 08/11/2011 $80,000 920 square feet. $86.45 per square foot. 58 Lebo Road, Carlisle 01/13/2012 $92,700 938 square feet. $98.82 per square foot. The appraiser, in addition to the sales listed, also considered several additional sales in arriving. at his final opinion of value. On the Sales Comparison Analysis form that follows this page are dollar adjustments reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of the subject; if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus {+) adjustment is made, thus increasing the indicated value of the subject. After making all of the necessary adjustments, it is the appraiser's considered opinion that the indicated value of the subject property by the Sales Comparison Approach is $68,000. 11 SALES COMPARISON ANALYSIS ITEM SUBJECT COMPARABLE #1 COMPARABLE #2 COMPARABLE #3 Address 273 Meadows Road Newvilk 304 Neely Road Newville 1022 Centerville Road Newville 58 Lebo Road Carlisle Proximity to Subject 9.47 miles 12,16 miles 14.45 miles Sale Price N.A. $65,000 $80,000 $92,700 Price / 3q. Ft. GLA N.A. $77.38 586.45 8.82 Data Source Itrspection CouRhouse CPML#10210610,Courthouse Courthouse ADIUSTNIY;N'1'S DESCRIPTION DESCRIPTION $ Adjust, DESCRIPTION S Adjust, DESCRIPTION $ Adjust, Sates or Financing Concessions Unknown Conventional -seller paid dosing cost for b - S4 000 -4,000 Unknown Date ofSale /Time As of 01/16/20(2 12/27/2011 08/11201 1 01/13/2012 Locateon Average Average Average Average Site /View 3.67 acres 1.2 acres +7,400 1.41 acres +b,800 .92 acres +12,400 Design and Appeal Mobile home Mobile home Mobile home Mobile home Constraction Aluminum siding Metal siding Vinyl siding Aluminum siding Age 40 years 40 years 20 years -5,000 29 years -3,000 Condition Fair Fair Good -5,000 Goad _5,000 Above Grede Room Count Tot. Bed. Beth Tot. Bed. Bath Tot. Bed. Beth Tot. Bed. Bath 5 3 1 5 3 1 S 3 2 -2,000 4 2 1 +2,OOp Gross Living Area 412 square feet 840 square feet 920 square felt 938 square feet Be.9arsent &Finished Rooms Below Grade Crewl space Crawl space Crawl space Crawl space Functional Util' A Similar Sunilar Similar Hearing !Cooling Oil forced air/ no central air Kerosene forced air/ no central air Pmpaae forced asr / no central air Propane forced air/ central air -2 000 / C None 2 car -S 000 None 2 car -S 000 Porches, Patios Pools eto. Deck Enclosed porch -500 None +500 2 decks -500 Special Energy Efficient Items Typical for the ' n. Similar Similar Similar F' 1 s None None Nono None Other (e.g. kitchen equip., remodeling) Net Ad'. total Indicated Value of Sub'eat Shod None +500 +2 400 $67 400 Norse +500 -8 00 571 800 None +500 .600 $92100 FINAL INDICATED VALUE OF SUBJECT PROPERTY: $68,000 12 CORRELA'T.ION Correlation may be defined as "the bringing together of parts in a proper relationship: ' The parts of this appraisal report are the following approaches to value your appraiser used: Value Indicated by Cost Approach N.A. Value Indicated by Sales Comparison Approach $68,000 Value Indicated by Income Approach N.A. These approaches are representative of the market value of the subject property. I have carefully reexamined each step in each method, and I believe the conclusions accurately reflect the attitude of typical purchasers of this type property in this neighborhood. It is my belief that this reexamination has confirmed the original conclusions. The Cost Approach will result in an excellent estimate if ail elements are figured accurately, because no prudent person will pay more for a property than the cost to produce a substitute property with equal desirability and utility. Purchasers of the type of dwelling typical of the subject property are more concerned with amenities than with hypothetical replacement of the property. Due to the age of the subject improvements, the Cost Approach is considered to be inappropriate and has not been included in this appraisal report. The Sales Comparison Approach was based on several recent sales of properties similaz to that of the subject, all of which are located in the same general area. The adjusted sales prices are most consistent under comparison. 'This approach is the most reliable because it reflects the reactions of typical buyers and sellers in the market. The Income Approach is most applicable to income producing properties or properties that are primarily utilized for income producing purposes. Purchasers of income producing properties are willing to pay no more for a particular property than the net operating income will support. Since the majority of properties similar to the subject are not utilized for income producing purposes, this approach ~to value has not been included in this appraisal report. Therefore, as a result of this appraisal and analysis, it is this appraiser's considered judgment and opinion that the Market Value of the subject property, as of 7anuary 16, 2012, is: SIXTY -EIGHT THOUSAND DOLLARS $68,000 13 UNDERLYING ASSUMPTIONS AND LIMITING CONDITIONS SUB.TECT TO TAIS APPRAISAL 1. I assume no responsibility for matters legal in nature, nor do I render any opinion as to the title, which is assumed to be marketable. The property is appraised as though under responsible ownership. 2. The legal description used herein is correct. 3. 1 have made no survey of the property, and the boundaries are taken from records believed to be reliable. 4. I assume that there are no hidden or unapparent conditions of the property, subsoil or structures which would render it more or less valuable. I assume no responsibility for such conditions or for engineering which might be required to discover such factors. 5. The information, estimates, and opinions furnished to me and contained in this report were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy can be assumed by me. 6. This report is to be used in its entirety and only for the purpose for which it was rendered. 7. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser or the firm with which he is connected) shall be reproduced, published, or disseminated to the public through advertising media, public relations media, news media, sales media, or any other public means of communication, without the prior written consent and approval of the appraiser. 8. This appraisal, was prepared under the extraordinary assumption that any easements or rights of way of record have no adverse impact upon the highest and best use or value herein reported. A title search was not requested nor included in the scope of work for this assignment. 9. This appraisal was prepared for the exclusive use of the client identified in this appraisal report. The information and opinions contained in this appraisal set forth the appraiser's best judgment in light of the information available at the time of the preparation of this report. Any. use of this appraisal by any other person or entity, or any reliance or decisions based on this appraisal are the sole responsibility and at the sole risk of the third party. The appraiser accepts no responsibility for damages suffered by any third party as a result of reliance on or decisions made or actions taken based on this report. 14 CERTIFICATE OF APPRAISAL Your appraiser hereby certifies that: 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 unbiased professional analyses, opinions, and conclusions. 3. I have no present of prospective interest in the property that is the subject of this repart, and nv personal interest 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 for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the aecurrence of a subsequent event directly related to the intended use of this appraisal. 7. To the best of my knowledge and belief, the statements of fact contained in this appraisal report, upon which the analyses, opinions, and conclusions expressed herein are based, are true and correct. 8. This appraisal report sets forth all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions, and conclusions contained in this report. 9. This appraisal report has been made in conformity with the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation, and is subject to the requirements of the Code of Professional Ethics and .Standards of Professional Conduct of the National Association of Realtors Appraisal Section. 15 10. No one other than the undersigned prepared the analyses, conclusions, and opinions concerning real estate that are set forth in this appraisal report. L E. Foote Pa. Certified General Appraiser GA-(}00014-L Beth A. Shenk Appraiser Trainee 16 PRIVACY NOTICE Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1, 2001, appraisers, along with all providers of personal financial services are now required by federal law to inform their clients of the policies of the firm with regard to the privacy of client nonpublic personal information. As professionals, we understand that your privacy is very important to you and are pleased to provide you with this information. In the course of performing appraisals, we may collect what is known as "nonpublic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessary disclosure would be to our independent contractors, and in certain situations, to unrelated third party consultants who need to know that information to assist us in providing appraisal services to you. All of our independent contractars and any third party consultants we engage are informed that any information they see as part of an appraisal assignment is to be maintained in strict confidence within the firm. A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal action to which you are a parry. We will retain records relating to professional services that we have pravided to you for a reasonable time so that we are better able to assist you with your needs. Tn order to protect your nonpublic personal information from unauthorized access by third parties, we maintain physical, electronic and procedural safeguards that comply with our professional standards to insure the security and integrity of your information. 17 LARRY E. FOOTE REAL ESTATE APPRAISER EXPERIENCE: 1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa. Principal Broker, LaRue Development Company, Carlisle, Pa. 1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa. 1972-1976: Realtor Associate, Jack Gaughan Realtor, Carlisle, Pa. Appraisal experience included undeveloped land, farms, building lots, single-family dwellings, mobile home parks, medical centers, nursing homes, motels, apartment buildings and complexes, office buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, daycare centers, warehouses, and manufacturing facilities. EDIICATION: Bachelor of Business Administration, Pennsylvania State University, 1976. Associate Bachelor of Business Administration, Harrisburg Area Community College, 1974. Diploma, Carlisle Senior High School, 1465. Certificate, Pennsylvania Realtors Institute, GRI I, GRI II, GRI III. ,Certificate, Realtors,Nafional Marketing Institute, CI 101, CI 102, CI 103, CI 104, CI 105. Standards of Professional Practice, American Institute of Real Estate Appraisers. Real Estate Appraisal Principles, American Institute of Real Estate Appraisers. Residential Valuation, American Institute of Real Estate Appraisers. Appnusal Procedures, Appraisal Institute. Principles of Income Property Appraising, .Appraisal Institute. Case Studies in Real Estate Valuation, Appraisal Institute. Report Writing and Valuation Analysis, Appraisal Institute. PROFESSIONAL LICENSES: General Appraiser #GA-000014-L, Commonwealth of Pennsylvania. Real Estate Broker #RB-029729-A, Commonwealth of Pennsylvania. PROFESSIONAL DESIGNATIONS EARNED: GRI: Graduate of the Pennsylvania Realtors Institute, awarded by the Pennsyl- vaniaAssociation of Realtors. CRS: Certified Residential Specialist, awarded by the Realtors National Market- ing Institute of the National Association of Realtors. CCIM: Certified Commercial Investment Member, awarded by the Realtors National Marketing Institute of the National Association of Realtors. PROFESSIONAL ORGANIZATION AFFII.IATION5: National Association of Realtors Appraisal Section. Greater Harrisburg Association of Realtors. Pennsylvania Association of Realtors. National Association of Realtors. Realtors National Marketing Institute. 1$ PAST CLIENTS: Borough of Carlisle Keystone Financial Mortgage Cornerstone Federal Credit Union Pennsylvania State Bank Commerce Bank Cumberland-Perry Association for Retarded Citizens Carlisle Suburban Authority Members 1" Federal Credit Union Pennsylvania National Bank Evans Financial Corporation Greenawalt & Company, CPA Smith's Transfer Corporation Carlisle Department of Parks and Recreation Executive Relocation Services Carlisle Area School District Messiah Homes, Incorporated ERA Eastern Regional Services Pennsylvania Turnpike Commission Chase Home Mortgage Corporation Defense Activities Federal Credit Union Pennsylvania State Employees Credit Union PNC Mortgage Corporation F&M Trust Company National City Mortgage Corporation Washington Mutual Home Loans, Inc. Prudential Relocation Services Lender's Choice Market Intelligence, Incorporated United Telephone Employees Federal Credit Union Cumberland County Commissioners Allstate Enterprises Mortgage Corporation Dickinson College PPG Industries, Incorporated Gettysburg College . Redevelopment Authority of Cumberland County Record Data Appraisal Services, Incorporated First United Federal Savings Association Fulton Bank United States Marshall Service GMAC Mortgage Corporation Orrstown Bank Letterkenny Federal Credit Union BancPlus Mortgage Corporation Coldwell Banker Relocation Services, Incorporated Central Pennsylvania Savings Bank Mellon Bank Provident Home Mortgage Corporation Drovers Bank American Home Bank Trans Union M&T Mortgage Corporation Cody Financial Mortgage Services Waypoint Bank Northwest Savings Bank Blue Bali National Bank Adams County National Bank Countrywide Home Loans Aarrow Mortgage Various law fines and individuals 19 PHOTOGRAPHS OF THE SUBJECT IlKp'ROVEMENTS 20 STREET SCENES AT THE SUBJECT PROPERTY 21 22 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3 SUBJECT PROPERTY LOCATION MAP 23 APPRAISAL REPORT 288 MEADOWS ROAD NEWVILLE, PENNSYLVANIA PREPARED FOR ESTATE OF GEORGE W. DEWALT JR. BY LARRY E. FOOTE DIVERSIFIED APPRAISAL SERVICES 3S EAST HIGH STREET, SUITE 101 CARLISLE, PENNSYLVANIA 17013-3052 (717) 249-2758 COPY, SAY OF IlVIPORTANT FACTS AND CONCLUSIONS LOCATION: 288 Meadows Road Newville, Pennsylvania TAX PARCEL NUMBER: IS-040.393-052 IlvIPROVEMENTS: One-story detached single-family mobile dwelling. PROPERTY RIGHTS: Fee simple interest. OWNERSHIP HISTORY: The subject property is owned by George W. Dewalt Jr. The property last transferred on May 15, 2002 for a reported consideration of $32,500.00 and ownership conveyed on Deed Book 251 page 3537. SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the subject's area, an inspection of the subject property, an estimation of the property's highest and best use, consideration of all three approaches to value, and the application of those relevant to the valuation of the subject. CLIENT: Estate of George W. Dewalt Jr. INTENDED USER: Estate of George W. Dewalt Jr. OBJECTIVE: To estimate the mazket value of the subject property as unencumbered. EFFECTIVE DATE: January 16, 2012. INSPECTION DATE: February 8,2012. HIGHEST AND BEST USE: Continued use as asingle-family residence. COST APPROACH: N.A. SALES APPROACH: $50,000 INCOME APPROACH: N.A. FINAL VALUE CONCLUSION: $50,000 2 THE VALUATION PROCESS The valuation process is defined in The Appraisal of Real Estate as published by the Appraisal Institute, as "a systematic set of procedures an appraiser follows to provide answers to a client's questions about real property value" It consists of a series of steps that are appropriate to a specific and particular appraisal assignment that begins with a client engaging a real estate appraiser to develop an opinion of value for a specific property as of a given effective date and ends when the appraiser communicates and reports the final conclusions and opinions to the client. Deftnition of the Appraisal Problem: The first step in the appraisal process includes the presentation of the following: 1. Identification of the client, the intended use, and the intended users of the appraisal report. 2. The purpose of the appraisal, including a definition of the value being reported. 3. Determination of the effective date of the appraisal. report. 4. Extraordinary assumptions that are applicable to the appraisal assignment. 5. Hypothetical conditions that are applicable to the appraisal assignment. Scope of Work: Scope of work is defined in the Uniform Standards of Professional Practice as being "the type and extent of research and analyses in an assignment " This includes the degree and extent of research and the data that is deemed as necessary to develop a credible opinion of value for the property being appraised. Data Collection and Analysis: The appraiser must gather and analyze market area data, subject property data, and comparable property data that is relative and relevant to the appraisal assignment. Development and Application of Traditional Approaches to Value: The appraiser must consider which of the three traditional approaches to value are applicable, relevant, and necessary for developing a credible opinion of value for the subject property. These three traditional approaches to value include the Cost Approach, Sales Comparison Approach, and Income Capitalization Approach. When two or more of these approaches to value are developed, the appraiser must determine the amount of emphasis and consideration to be given to each of those approaches to value, since one or more may have greater significance. in the appraisal of a specific property. Reconciliation of Value Indications and Final Opinion of Value: The final step in the valuation process is the reconciliation of the value indications developed by the appraiser. Reconciliation is the analysis of alternative conclusions to arrive at a final value estimate. Reconciliation is required because different value indications result from the use of multiple approaches to value and within the application of a single approach. The final value estimate is riot derived simply by applying technical and quantitative 3 procedures, rather, it involves the exercise of judgment, and the value conclusion reached must be consistent with tnarlcet thinking. APPRAISAL CERTIFICATION 1 hereby certify that upon application for valuation by: Estate of George W. Dewalt Jr. the undersigned personally inspected the following described property: All that certain piece or parcel of land, with the improvements thereon erected, situate in Lower Mifflin Township, Cumberland County, Pennsylvania, bounded and described as follows: Beginning at a point in the center line of Township Road T-418, on the line of land now or formerly of William C. Kostenbauder; thence along the center line of said Township Road, South 11 degrees, 11 minutes, 47 seconds East, a distance of 133.28 feet to a spike; thence along the same, South 11 degrees, 27 minutes, 17 seconds East, a distance of 4G.82 feet to a spike; thence along land now or formerly of Raymond M. Peterson, et ux, South 54 degrees, 33 minutes 45 seconds West, a distance of 185.78 feet to a point; thence along other lands now or formerly of Raymond M. Peterson, et ux, North 40 degrees, 31 minutes, 39 seconds West, a distance of 147.73 feet to a point; thence along the land now or formerly of William C. Kostenbauder, North 50 degrees, 57 minutes; 45 seconds East, a distance of 273.18 feet to the center line of Township Road T-418, the place of beginning. To the best of my knowledge and belief the statements contained in this report are true and correct, and that neither the employment to make this appraisal nor the compensation is contingent upon the value reported, and that in my opinion the Market Value as of January 16, 2012 is: F1FTY THOUSAND DOLLARS $50,000 The property was appraised as a whole, subject to the contingent and limiting conditions outlined herein. ~~ Larry .Foote Pa. ~ Certified General Appraiser GA-000014-L ,~~ Q~~ Beth A. Shenk Appraiser Trainee INTENDED USE OF THE APPRAISAL .The intended use of this appraisal is to estimate the Market Value of the subject properly as of 3anuary 16, 2012. Market Value is defined as 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 stunulus. Implicit in this def nition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated. b. Both parties are well informed or well advised, and each acting in what he considers his own best interest. c. A reasonable time is allowed for exposwe in the open market. d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto. e. 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. Source: Office of the Comptroller of the Currency, 12 CFI §34.42(fj. HIGHEST AND BEST USE Highest and Best Use is defined by the Appraisal Terminology and Handbook, published by the Appraisal Institute, as "the most profitable likely use to which a properly can be put". The opinion of such use may be based on the highest and most profitable continuous use to which the property is adapted and needed, or likely to be in demand, in the reasonable near future. . However, elements affecting value that depend upon events or a combination of occurrences which, while within. the realm of possibility, are not fairly shown to be reasonably probable, should be excluded from consideration. Also, if the intended use is dependent on an uncertain act of another person, the intention canuot be considered. Based on the above definition and after seeing the site, neighborhood, and area, it is my opinion that the present use of the subject is its Highest and Best Use. 6 SITE DATA ADDRESS: 288 Meadows Road, Newville, PA 17241 TOWNSHIP: Lower Mifflin Township CO(1NTY: Cumberland STATE: Pennsylvania ' LOT SIZE: .81 acre SEWERS: On-site septic. WATER: Well. ELECTRICITY: Adams Electric. LANDSCAPING: Typical for the area, with a sodded lawn, trees and shrubs. DETRIMENTAL INFLUENCES None. Pride of ownership is evident throughout the neighborhood. DESCRIPTION OF IMPROVEMENTS GENERAL DESCRIPTION: One-story detached single-family mobile dwelling containing approximately 1,512 square feet of gross living area above grade. CONDITION: Exterior:. Good Interior: Fair ROOMS: First Floor: Living room, kitchen, dining room, four bedrooms, two bathrooms. EXTERIOR: Foundation:. Concrete block, crawl space. walls: vinyl. Sash: Single-glazed. Gutters: Aluminum. Roof: Gable, with metal. Storm units: Yes. 7 INTERIOR, PRINCIPAL ROOMS: Flooring: Carpet. Walls: Paneling. Ceilings: Drywall. Trim: Wood. KITCHEN: Cabinets: Painted wood. Counters: Laminate. Walls: Paneling. Flooring: Carpet. Sink: Double-bowl, stainless steel. BATHROOM: Flooring: Vinyl. Walls: Paneling. Bathtub: Built-in, with shower. Lavatory: Vanity. Water closet: Two-piece. Medicine cabinet: Wall mounted. HEATING: Propane wall units, Electric baseboard. HOT WATER: Electric, 30•gallon. ELECTRIC: Circuit breaker system, 2- i 00-ampere. OTHER: GENERAL CONDITION: All improvements are considered to be in fair condition on the interior and good on the exterior, with mechanical systems appearing to be adequate and functioning properly. 8 THE APPRAISAL PROCE55 Three approaches to value are generally included in an appraisal report. These techniques include the cost approach, sales comparison approach, and income approach to value. The cost approach to value is based on the assumption that the reproduction cost of a building plus land value, tends to set the upper limit to value. A key assumption is that a newly constructed building would have advantages over the existing building, therefore an evaluation focuses upon disadvantages ar deficiencies (depreciation) of the existing building compared to anew facility. Due to the age of the subject improvements, the cost approach is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. The sales comparison approach to value assumes that under normal conditions, a given number of parties acting intelligently and voluntarily; tend to set a pattern from which value can be estimated. Application of this approach relies on a comparison of the subject with a sufficient number of recent transactions of comparable properties in the market, based on a common unit, such as price per square foot of building area. The income approach concerns itself with present worth of the future potential benefits of a property. The initial estimate involves the, net income, which a fully informed person is justified in assuming the property will produce during its remaining useful life. This estimated net income is then capitalized into a value estimate, based upon the level of risk as compared with that of a similar type and class. Since homes similar to the subject are not typically utilized as income-producing investment properties, the income approach to value is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. 9 SALES COMPARISON APPROACH In arriving at this conclusion of the value of the subject property, the appraiser made a survey of properties that have sold in the area of the subject property. Consideration was given and adjustments were made on each comparable sale as to time of sale, size, location, as well as all other factors that might affect value. A resume of some of the sales considered by the appraiser is as follows: SALE NO. 1: Location: Date of Sale: Sale Price: Size: Unit Price: 201 Union Hall Road, Carlisle 08/24/2011 $95,000 1,408 square feet. $67.47 per square foot. SALE NO. 2: Location: 707 Opossum Lake Road, Carlisle Date of Sale: 12/12/2011 Sale Price: $65,000 Size: 1,344 square feet. Unit Price: $48.36 per square foot. SALE NO. 3: Location: Date of Sale: Sale Price: Size: Unit Price: 42 Lonesome Road, Newville 03/04/2011 $52,467 1,188 square feet. $44.16 per square foot. The, appraiser, in addition to the sales listed, also considered several additional sales in arriving at his final opinion of value. On the Sales Comparison Analysis form that follows this page are dollar adjustments reflecting market reaction to those items of significant variation between the subject and comparable .properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of the subject; if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus (+) adjustment is made, thus increasing the indicated value of the subject. After making all of the necessary adjustments, it is the appraiser's considered opinion that the indicated value of the subject properly by the Sales Comparison Approach is $50,000. 10 SALES COMPARISON ANALYSIS ITEM SUBJECT COMPARABLE # 1 COMPARABLE #2 COMPARABLE #3 Address 288 Meadows Roed Newvilk 201 Union Hail Road Carlisle 707 Opossum Lake Road Carlisle 42 Lonesome Rd Newville Proximity to Subject Sale Prico Price / Sq. Ft. GLA NA NA 17.19 miles 595,000 $67.47 13.94 miles 565,000 $4836 8.93 miles $52,467 $44.16 Data Source Inspection CPMLli 102111 I4, Courthouse Courthouse Courthouse ADJUSTMENTS DESCRIPTION DESCRII''['[ON $ Adjust DESCRIPTION S Adjust. DESCRIPTION $ Adjust. Saks of Financing Concessions Cash Unknown Unknown Date of Sale / Tirne As of 01/16!2012 08/24/2011 12/12/2011 03/04/201 1 Location Average Avg Average Average Site /View .81 acts 2.40 acres -8,000 1.87 acres -7,000 .64 acre +3,400 Design and Appeal Mobile homo Mobile home Mobile bane Mobile home Construction Aluminum siding Vinyl aiding Vinyl siding Vinyl siding Age 40 years 26 years -2,000 i 7 years -5,000 4 years -l Q000 Condition Fair Good -5,000 Good -5,000 Gail -5,000 Above Grade Tot. Bed. Bath Tot. Bed. Bath Tot Bed. Bath Tot. Bed Rath Roan Count 7 4 2 8 4 1.0 6 3 2 +2,000 S 3 2 +4,000 Gross Living Area i,S12 square feet 1,408 square fcet +2,100 1,344 square feet +3,400 1,188 square feet +6,500 Basement dtFinisbed Rooms Below Grade Crawl space Crawl space Crawl space Crawl space Functional Uttl' Av Simr7er Similar Similar Heating! Cooling Electrio Mseboard, propane wall units/ no conhal air Oil tbrced air / no central air Propane forced air/ central air -2,000 Propane forced air/ contra! air -2,000 / C None 2 oar w/heat -10000 None None Porches, Palos P etc. Porch Deck, covered patio -500 Deck Nonc +500 Special Energy Effieierrt Items . Typical for the Similar Similar Similar F' s None None None Nono Other (e.g. kitchen equip., remodeling) Net Ad'. Indicated Value of Sub"ect Shed None +500 22 0 S7Z l00 None +500 -13 100 $5I 900 None +500 -2100 $30 67 FINAL INDICATED VALUE OF SUBJECT PROPERTY: $50,000 I1 CUIRRELATIUN Correlation may be defined as "the bringing together of parts in a proper relationship." The parts of this appraisal report are the following approaches to value your appraiser used: Value Indicated by Cost Approach N.A. Value Indicated by Sales Comparison Approach $50,000 Value Indicated by Income Approach N.A. These approaches are representative of the market value of the subject property. I have carefully reexamined each step in each method, and I believe the conclusions accurately reflect the attitude of typical purchasers of this type property in this neighborhood. It is my belief that this reexamination has confirmed the original conclusions. The Cost Approach will result in an excellent estimate if all elements are figured accurately, because no prudent person will pay more for a property than the cost to produce a substitute property with equal desirability and utility. Purchasers of the type of dwelling typical of the subject property are more concerned with amenities than with hypothetical replacement of the property. Due to the age of the subject improvements, the Cost Approach is considered to be inappropriate and has not been included in this appraisal report. The Sales Comparison Approach was based on several recent sales of properties similar to that of the subject, all of which are located in the same. general. area. The adjusted sales prices are most consistent under comparison. This approach is the most. reliable because it reflects the reactions of typical buyers and sellers in the market. The Income Approach is most applicable to income producing properties or properties that aze primarily utilized for income producing purposes. Purchasers of income. producing properties are willing to pay no more for a particular property than the net operating income will support. Since the majority of properties similar to the subject are not utilized for income producing purposes, this approach to value has not been included in this appraisal report. Therefore, as a result of this appraisal and analysis, it is this appraiser's considered judgment and opinion that the Market Value of the subject property, as of January 16, 2012, is: FIFTY THOUSAND DOLLARS $50,000 12 UNDERLYING ASSUMPTIONS AND LIIVIITING CONDITIONS SUBJECT TO TffiS APPRAISAL 1. I assume no responsibility for matters legal in nature, nor do I render any opinion as to the title, which is assumed to be marketable. The property is appraised as though under responsible ownership. 2. The legal description used herein is correct. 3. I have made no survey of the property, and the boundaries are taken from records believed to be reliable. 4. I assume that there are no hidden or unapparent conditions of the property, subsoil or structures which would render it more or less valuable. I assume no responsibility for such conditions or fox engineering which might be required to discover such factors. 5. The information, estimates, and opinions furnished to me and contained in this report were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy can be assumed by me. 6. This report is to be used in its entirety and only for the purpose for which it was rendered. 7. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser or the firm with which he is connected) shall be reproduced, published, or disseminated to the public through advertising media, public relations media, news media, sales media, or any other public means of communication, without the prior written consent and approval of the appraiser. 8. This appraisal was prepared under the extraordinary assumption that any easements or rights of way of record have no adverse impact upon the highest and best use or value herein reported. A title search was not requested nor included in the scope of work for this assignment. 9. This appraisal was prepared for the exclusive use of the client identified in this appraisal report. The information and opinions contained in this appraisal set forth the appraiser's best judgment in light of the information available at the time of the preparation of this report. Any. use of this appraisal by any other person or entity, or any reliance or decisions based on this appraisal are the sole responsibility and at the sole risk of the third party. The appraiser accepts no responsibility for damages suffered by any third party as a result of reliance on or decisions made or actions taken based on this report. 13 CERTIFICATE OF APPRAISAL Your appraiser hereby certifies that: 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 unbiased professional, analyses, opinions, and conclusions. 3. I have no present of prospective interest in the property that is the subject of this report, and no personal interest 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. S. My engagement in this assignment was not contingent upon developing or reporting predetermined results. b. My compensation for completing this .assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. . 7. To the best of my knowledge and belief, the statements of fact contained in this appraisal report, upon which theanalyses, opinions, and conclusions expressed herein are based, are true and correct. 8. This appraisal report sets forth all of the linuting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions, and conclusions contained in this report. 9. This appraisal report has been made in conformity with the Uniform Standards of Professional Appraisal Practice adapted by the Appraisal Standazds Board of the Appraisal Foundation, and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of the National Association of Realtors Appraisal Section. 14 10. No one other than the undersigned prepared the analyses, conclusions, and opinions concerning real estate tha# are set forth in this appraisal report. harry .Foote Pa. Certified General Appraiser GA-000014-L Q~~ Beth A. Shenk Appraiser Trainee 15 PRIVACY NOTICE Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1, 2001, appraisers, along with all providers of personal fuiancial services are now required by federal law to inform their clients of the policies of the firm with regard to the privacy of client nonpublic personal information. As professionals, we understand that your privacy is very important to you and are pleased to provide you with this information. In the course of perfornung appraisals, we may collect what is known as "nonpublic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonaffiliated third parties, except as necessary or as required by law. Byway of example, a necessary disclosure would be to our independent contractors, and in certain situations, to unrelated third party consultants who need to know that information to assist us in providing appraisal services to you. All of our independent contractors and any third party consultants we engage are informed that any informatian they see as part of an appraisal assignment is to be maintained in strict confidence within the firm. A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal action to which you are a party. We will retain retards relating to professional services that we have provided to you for a reasonable time so that we are better able to assist you with your needs. In order to protect your nonpublic personal information from unauthorized access by third parties, we maintain physical, electronic and procedural safeguards that comply with our professional standards to insure the security and integrity of your information. 16 LARRY E. FOOTE REAL ESTATE APPRAISER EXPERIENCE: 1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa. Principal Broker, LaRue Development Company, Carlisle, Pa. 1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa. 1972-1976: Realtor Associate, Jack Gaughen Reactor, Carlisle, Pa. Appraisal experience included undeveloped land, farms, building lots, single-family dwellings, mobile home parks, medical centers, nursing homes, motels, apartment buildings and complexes, office buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, daycare centers, warehouses, and manufacturing facilities. EDUCATION: Bachelor of Business Administration, Pennsylvania State University, 1976. Associate Bachelor of Business Administration, Harrisburg Area Community Collage, 1974. Diploma, Carlisle Senior High School, 1965. Certificate, Pennsylvania Realtors Institute, GRI I, GRI II, GRI )lI. Certificate, Realtors National Marketing Institute, CI 101, CI 102, CI 103, CI i04, CI 105. Standards of Professional Practice, American Institute of Real Estate Appraisers. Real Estate Appraisal Principles, American Institute of Real Estate Appraisers. Residential Valuation, American Institute of Real Estate Appraisers. Appraisal Procedures, Appraisal Institute. Principles of Income Property Appraising, Appraisal Institute. Casa Studies in Real Estate Valuation, Appraisal Institute. Report. Writing and Valuation. Analysis, Appraisal Institute. PROFESSIONAL LICENSES: General Appraiser #GA-000014-L, Commonwealth of Pennsylvania. Real Estate Broker #RB-029729-A, Commonwealth of Pennsylvania. PROFESSIONAL DESIGNATIONS EARNED: GRI: Graduate of the Pennsylvania Realtors Institute, awarded by the Pennsyl- vania Association of Realtors. CRS: Certified Residential Specialist, awarded by the Realtors National Market- ing Institute of the National Association of Realtors. CCIM: Certified Commercial Investment Member, awarded by the Realtors National Marketing Institute of the National Association of Realtors. PROFESSIONAL ORGANIZATION AFFILIATIONS: National. Association of Realtors Appraisal Section. Greater Harrisburg Association of Realtors. Pennsylvania Association of Realtors. National Association of Realtors. Realtors National Marketing Institute. 17 PAST CLIENTS: Borough of Carlisle Keystone Financial Mortgage Cornerstone Federal Credit Union Pennsylvania State Bank Commerce Bank Cumberland-Perry Association for Retarded Citizens Carlisle Suburban Authority Members 1"Federal Credit Union Pennsylvania National Bank Evans Financial Corporation Greenawalt 8c Company, CPA Smith's Transfer Corporation Carlisle Department of Parks and Recreation Executive Relocation Services Carlisle Area School District Messiah Homes, Incorporated ERA Eastern Regional Services Pennsylvania Turnpike Commission Chase Home Mortgage Corporation Defense Activities Federal Credit Union Pennsylvania State Employees Credit Union PNC Mortgage.Corporation F&M Trust Company National City Mortgage Corporation Washington Mutual Home Loans, Inc. Prudential Relocation Services Lender's Choice Market Intelligence, Incorporated United Telephone Employees Federal Credit Union Cumberland County Commissioners Allstate Enterprises Mortgage Corporation Dickinson College PFG Industries, Incorporated Gettysburg College Redevelopment Authority of Cumberland County Record Data Appraisal Services, Incorporated First United Federal Savings Association Fulton Bank . United States Marshall Service GMAC Mortgage Corporation Orrstown Bank . I,etterkenny Federal Credit Union BancPlus Mortgage Corporation Coldwell Banker Relocation Services, Incorporated Central Pennsylvania Savings Bank Mellon Bank Provident Home Mortgage Corporation Drovers Bank American Home Bank Trans Union M&T Mortgage Corporation Cody Financial Mortgage Services Waypoint Bank Northwest Savings Bank Blue Ball National Bank Adams County National Bank Countrywide Home Loans Aarrow Mortgage Various law fums and individuals 18 PHOTOGRAPHS OF THE SUBJECT IlVIPROVEMENTS 19 STREET SCENES AT THE SUBJECT PRUPERTY 20 21 COMPARABLE SALE NO. 2 SUBJECT PROPERTY LOCATION iVIAP 22 APPRAISAL REPORT 305 BURGNERS ROAD CARLISLE, PENNSYLVANIA PREPARED FOR ESTATE OF GEORGE W. DEWALT JR. BY LARRY E. FOOTE DIVERSIFIED APPRAISAL SERVICES 35 EAST HIGH STREET, SUITE 101 CARLISLE, PENNSYLVANIA 17013-3052 (717} 249-2758 .COPY. SUMIVIARY OF IMPORTANT FACTS AND CONCLUSIONS LOCATION: 305 Burghers Road Carlisle, Pennsylvania. TAX PARCEL NUMBER: 43-040-387-042A IMPROVEMENTS: One-story detached single-family mobile dwelling. PROPERTY RIGHTS: Fee simple interest. OWNERSHIP HISTORY: The subject property is owned by George W. Dewalt Jr. The property last transferred on June 15, 2000 for a reported consideration of $20,000.00 and ownership conveyed on Deed Book 223 page 455. SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the subject's area, as inspection of the subject property, an estimation of the property's highest and best use, consideration of all three approaches to value, and the application of those relevant to the valuation of the subject. CLIENT: Estate of George W. Dewalt Jr. INTENDED USER: Estate of George W. Dewalt Jr OBJECTIVE: To estimate the market value of the subject property as unencumbered. EFFECTIVE DATE: January 16, 2012. INSPECTION DATE: February 8, 2012. HIGHEST AND BEST USE:. Continued use as asingle-family residence. COST APPROACH: N.A. SALES APPROACH: $52,100 INCOME APPROACH: N.A. FINAL VALUE CONCLUSION: $52,100 2 THE VALUATION PROCESS The valuation process is defined in The Appraisal of Real Estate as published by the Appraisal Institute, as "a systematic set of procedures an appraiser follows to provide answers to a client's questions about real property value: ' It consists of a series of steps that are appropriate to a specific and particular appraisal assignment that begins with a client engaging a real estate appraiser to develop an opinion of value for a specific property as of a given effective date and ends when the appraiser communicates and reports the final conclusions and opinions to the client. Definition of the Appraisal Problem: The first step in the appraisal process includes the presentation of the following: 1. Identification of the client, the intended use, and the intended users of the appraisal report. 2. The purpose of the appraisal, including a definition of the value being reported. 3. Determination of the effective date of the appraisal report. 4. Extraordinary assumptions that are applicable to the appraisal assignment. 5. Hypothetical conditions that are applicable to the appraisal assignment. Scope of Work: Scope of work is defined in the Uniform Standards of Professional Practice as being "the type and extent of research and analyses in an assignment " This includes the degree and extent of research and the data that is deemed as necessary ~to develop a credible opinion of value for the property being appraised. Data Collection and Analysis: The appraiser must gather and analyze market area data, subject property data, and comparable property data that is relative and relevant to the appraisal assignment. Development and Application of Traditional Approaches to Value: The appraiser must consider which of the three traditional approaches to value are applicable, relevant, and necessary for developing a credible opinion of value for the subject property. These three traditional approaches to value include the Cost Approach, Sales Comparison Approach, and Income Capitalization Approach. When two or more of these approaches to value are developed, the appraiser must determine the amount of emphasis and consideration to be given to each of those approaches to value, since one or more may have greater significance in the appraisal of a specific property. Reconciliation of Value Indications and Final Opinion of Value: The final step in the valuation process is the reconciliation of the value indications developed by the appraiser. Reconciliation is the analysis of alternative conclusions to arrive at a final value estimate. Reconciliation is required because different value indications result from the use of multiple approaches to value and within the application of a single approach. The final value estimate is not derived simply by applying technical and quantitative 3 procedures, rather, it involves. the exercise of judgment, and the value conclusion reached must be consistent with market thinking. APPRAISAL CERTIFICATION I hereby certify that upon application for valuation by: Estate of George W. Dewait Jr. . the undersigned personally inspected the following described property: All that certain piece or parcel of land, with the improvements thereon erected, situate in West Pennsboro Township, Cumberland County, Pennsylvania, bounded and described as follows:. Beginning at a point in the center of a township road, which point is 421 feet East of the common corner of lands now or formerly of Leverne Saphore and other lands now or formerly of Charles Mackey, et ux and Russell Mackey, et ux.; thence along the center of said township road in an Easterly direction 131 feet to an iron pin; thence along other lands now or formerly of Charles Mackey, et ux and Russell Mackey, et ux in a Southerly direction 120 feet to an iron pin; thence by same in a Westerly direction 133 feet to an iron pin; thence by same in a Northerly direction 120 feet to place of beginning. To the best of my knowledge and belief the statements contained in this report are true and correct, and that neither the employment to make this appraisal nor the compensation is contingent upon the value reported, and that in my opinion the Market Value as of January 16, 2012 is: FIFTYT -TWO THOUSAND ONE HUNDRED DOLLARS $52,100 The property was appraised as a whole, subject to the contingent and limiting conditions outlined herein. ~~~ . Foote Pa. Certified General Appraiser GA-000014-L Q ~~ Beth A. Shenk Appraiser Trainee INTENDED USE OF THE APPRAISAL The intended use of this appraisal is to estimate the Market Value of the subject property as of January 16, 2012. Market Value is defined as the most probable price which a properly should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in.this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated. b. Both parties are well informed or well advised, and each acting in what he considers his own best interest. c. A reasonable time is allowed for exposure in the open market. d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto. e. T'he 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. Source: Office of the Comptroller of the Currency, 12 CFI §34.42(f j. HIGHEST AND BEST USE Highest and Best Use is defined by the Appraisal Terminology and Handbook, published by the Appraisal Institute, as "the most profitable likely use to which a property can be put". The opinion of such use may be based on the highest and most profitable continuous use to which the property is adapted and needed, or likely to be in demand, in the reasonable near future. .However, elements affecting value that depend upon events or a combination of occurrences which,.while within the realm of possibility, are not fairly shown to be reasonably probable, should be excluded from consideration Also, if the intended use is dependent on an uncertain act of another person, the intention cannot be considered Based on the above defuution and after seeing the site, neighborhood, and area, it is my opinion that the present use of the subject is its Highest and Best Use. 6 SITE DATA ADDRESS: 305 Burghers Road, Carlisle, PA 17015 TOWNSHIP: West Pennsbom Township COUNTY: Cumberland STATE: Pennsylvania LOT SIZE: .36 acre SEWERS: On-site septic. WATER: Well. ELECTRICITY: PP&L LANDSCAPING: Typical for the area, with a sodded lawn, trees and shrubs. DETRIMENTAL INFLUENCES None. Pride of ownership is evident throughout the neighborhood. DESCRIPTION OF IMPROVEMENTS GENERAL DESCRIPTION: One-story detached single-family mobile dwelling containing approximately 798 square feet of gross living area above grade. CONDITION: Exterior: Fair Interior: Fair ROOMS: First Floor: Living room, kitchen, dining mom, two bedrooms, bathroom. Basement: Full, integral Isar-garage, unfurished EXTERIOR: Foundation: Concrete block. Walls: Aluminum. Sash: Single-glazed. Gutters: Aluminum, painted. . Roof: Gable, with metal. Storm units: Yes. 7 INTERIOR, PRINCIPAL ROOMS: Flooring: Vinyl, carpet. Walls: Paneling. Ceilings: Drywall. Trim: Wood. KITCHEN: Cabinets: Painted wood. Counters: Laminate. Walls: Paneling. Flooring: Vinyl. Sink: Double-bowl, stainless steel. BATHROOM: Flooring: Vinyl. Walls: Paneling. Bathtub: Built-in, with shower. Lavatory: Vanity. Water closet: Two-piece. Medicine cabinet: Wall mounted. HEATING: Oil fired forced air. COOLING: Nona. HOT WATER: Electric, 50-gallon. ELECTRIC: Circuit breaker system, 200-ampere. OTHER: ' GENERAL CONDITION: All improvements are considered to be in fair condition an the interior and on the exterior, with mechanical systems appearing to be adequate and functioning properly. 8 THE APPRAISAL PROCESS Three approaches to value are generally included in an appraisal report. These techniques include the cast approach, sales comparison approach, and income approach to value. The cost approach to value is based on the assumption that the reproduction cost of a building plus land value, tends to set the upper limit to value. A key assumption.is that a newly constructed building would have advantages over the existing building, therefore an evaluation focuses upon disadvantages or deficiencies (depreciation} of the existing building compared to anew facility. Due to the age of the subject improvements, the cost approach is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. The sales comparison approach to value assumes that under normal conditions, a given number of parties- acting intelligently and voluntarily, tend to set a pattern from which value can be estimated. Application of this approach relies on a comparison of the subject with a sufficient number of recent transactions of comparable properties in the market, based on a common unit, such as price per square foot of building area. The income approach concerns itself with present worth of the future potential benef is of a property. The initial estimate involves the net, income, which a fully informed person is justified in assuming the property will produce during its remaining usefitl life. This estimated net income is then capitalized into a value estimate, based upon the level of risk as compared with that of a similar type and class. Since homes similar to the subject are not typically utilized as income-producing investment properties, the income approach to value is considered to be inappropria#e and has, therefore, not been included in the development of this appraisal report. 9 SALES COMPARISON APPROACH In arriving at this conclusion of the value of the subject property, the appraiser made a survey of properties that have sold in the area of the subject property. Consideration was given and adjustments were made an each comparable sale as to time of sale, size, location, as well as all other factors that might affect value. A resume of some of the sales considered by the appraiser is as follows: $ALE NO. 1 Location: Date of Sale: Sale Price: Size: Unit Price: 6 Ocker Lane, Shippensburg 09/07/2011 $SS,000 784 square feet. $70.15 per square foot. SALE NO. 2: Location: 304 Nealy Road, Newville Date of Sale: 12/27/2011 Sale Price: $65,000 Size: 840 square feet. Unit Price: $77.38 per square foot. SALE NO. 3: Location: Date of Sale: Sale Price: Size: Unit Price: 141 Newville Road, Shippensburg 06/20/2011 $60,000 552 square feet: $108.69 per square foot. The.appraiser, in addition to the sales listed, also considered several additional sales in arriving at his final opinion of value. On the Sales Comparison Analysis form that follows this page are dollar adjustments reflecting market reaction to those items of significant variation between .the subject and comparable properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of the subject; if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus (+) adjustment is made, thus increasing the indicated value of the subject. After making all of the necessary adjustments, it is the appraiser's considered opinion that the indicated value of the subject property by the Sales Comparison Approach is $52,100. 10 SALES COMPARISON ANALYSIS ITEM SUBJECT COMPARABLE # 1 COMPARABLE #2 COMPARABLE #3 Address 305 Burghers Rd Carlisle 6 Ockor Lane 3hippensburg 304 Neely Road Newville 14l Newville Road Shippensburg Proximity to Subject Sate price Price / Sq. Ft. GLA N.A. N.A. 20.93 miles S55,000 $70.1 S 11.73 miles $65,000 577.38 16.93 mites $60,000 $108.69 Data Source It~pectioo Courthouse Courthouse Courthouse ADNSTMENTS DESCRIPTION DESCRiP710N $ Adjust. DFSCRIPTION $ Adjust. DF.SCRIP7YON $ Adjust. Sates or Financing Conoassions Unknown Unknown Unknown Date of Sak /Time As of 03/168012 09/078011 12/27/2011 06!20/2011 Location Average Average Average Average Site /View .36 acre .58 aca+e -4,400 1.2 acres -14,500 1.69 acres -16,000 Design and Appeal Mobile luxne Mobib home Mobile home Mobile home Constntetimi Aluminum aiding Ahaninum siding Metal siding Metal siding A~ 43 years 32 years 40 years 42 years Condition Fair Fair Fair Fair Above Grade Tot. Bed. Bath Tot. Bed. Bath Tot. Bed. Bath Tot. Bed. Bath Room Count 5 2 1 4 2 1 +2,000 5 3 1 3 l 1 +4,000 Grose Living Area 798 square feet 784 square fat 840 square feet 552 square feet +4,900 Basement dtFinished Rooms Below Grade. Full basement Crawl space +4,000 Crawl space +4,000 Crawl space +4,000 Functional Util' A Similar .. Similar- Similar Heating /Cooling Oil forced air/ no central air Propane forced air! oentral air -2,000 Rerosorw forced air/ no antral air Oil forced air/ no central air / rt 1 r:ar • 2 cat -2 500 2 car -2 500 2 car a -2 500 Porches, Patios Pool etc. Porch Deck Enclosed porch -500 Deck Special Energy EtHctent !tame Typical for the re on. Similar Similar Similar F s None None None None Other (e.g. kitchctt equip., remodeling) Net A ', total lndiceted Value of Sub act Buitt-ins. Siatilar -2 900 $52100 Similar -13 500 $51,500 Similar -5 600 $54400 FIlVAL INDICATED -VALUE OF SUBJECT PROPERTY: $52,100 11 CORRELATION Correlation may be defined as "the bringing together of parts in a proper relationship." The parts of this appraisal report are the following approaches to value your appraiser used: Value Indicated by Cost Approach N.A. Value Indicated by Sales Comparison Approach $52,100 Value Indicated by Income Approach N.A. These approaches are representative of the market value of the subject property. I have carefully reexamined each step in each method, and I believe the conclusions accurately reflect the attitude of typical purchasers of this type property in this neighborhood. It is my belief that this reexamination has confirmed the original conclusions. The Cost Approach will result in an excellent estimate if all elements are figured accurately, because no prudent person will pay more for a property than the cost to produce a substitute property with equal desirability and utility. Purchasers of the type of dwelling typical of the subject property are more .concerned with amenities than with hypothetical replacement of the property. Due to the age of the subject improvements, the Cost Approach is considered to be inappropriate and has not been included in this appraisal report. The Sales Comparison Approach was based on several recent sales of properties similar to that of the subject, all of which are located in the same general area. The adjusted sales prices are most consistent under comparison. This approach is the most reliable because it reflects the reactions of typical buyers and sellers in the market. The Income Approach is most applicable to income producing properties or properties that are primarily utilized for income producing purposes. Purchasers of income producing properties are willing to pay no more for a particular property than the net operating income will support. Since the majority of properties similar to the subject are not utilized for income producing purposes, this approach to value has not been included in this appraisal report. Therefore, as a result of this appraisal and analysis, it is this appraiser's considered judgment and opinion that the Market Value of the subject property, as of January 16, 2012, is: FIFTY -TWO THOUSAND ONE HUNDRED DOLLARS $52,100 12 UNDERLYING ASSUMPTIONS AND LIMITING CONDITIONS SUBJECT TO THIS APPRAISAL 1. I assume no responsibility for matters legal in nature, nor do I render any opinion as to the title, which is assumed to be marketable. The property is appraised as though under responsible ownership. 2. The legal description used herein is correct. 3. I have made no survey of the property, and the boundaries aze taken from records believed to be reliable. 4. I assume that there are no hidden or unappazent conditions of the property, subsoil or structures which would render it more or less valuable. I assume no responsibility for such conditions or for engineering which might be required to discover such factors. 5. The information, estimates, and opinions furnished to me and contained in this report were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy can be assumed by me. 6. This report is to be used in its entirety and only for the purpose for which it was rendered. 7. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser or the firm with which he is connected) shall be reproduced, published, or disseminated to the public through advertising media, public relations media, news media, sales media, or any other public means of communication, without the prior written consent and approval of the appraiser. 8. This appraisal was prepared under the extraordinary assumption that any easements or rights of way of record have no adverse impact upon the highest and best use or value herein reported. A title search was not requested nor included in the scope of work for this assignment. 9. This appraisal was prepared for the exclusive use of the client identified in this appraisal report. .The information and opinions contained in this appraisal set forth the appraiser's best judgment. in light of the information available at the time of the preparation of this report. Any use of this appraisal by any other person or entity, or any reliance or decisions based on this appraisal are the sole responsibility and at the sole risk of the third party. The appraiser accepts no responsibility for damages suffered by any third parry as a result of reliance on or decisions made or actions taken based on this report. 13 CERTIFICATE OF APPRAISAL Your appraiser hereby certifies that: 1. The statements of fact contained in this report are true and correct. 2. The reported analy. ses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. I have no present of prospective interest in the property that is the subject of this report, and no personal interest 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 for completing this assignment is not con#ingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 7. To the best of my knowledge and belief, the statements of fact contained in this appraisal report, upon which the analyses, opinions, and conclusions expressed herein are based, are true and correct. 8. This appraisal report sets forth all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting, the analyses, opinions, and conclusions contained in this report. 9. This appraisal report has been made in conformity with the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation, and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of the National Association of Realtors Appraisal Section. 14 10. No one other than the undersigned prepared the analyses, conclusions, and opinions concerning real estate that are set forth in this appraisal report. Larry .Foote Pa. Certified General Appraiser GA-000014-L r3~ ~ 8~~- Beth A. Shenk Appraiser Trainee 15 PRIVACY NOTICE Pursuant to the Cxramm-Leach-Billey Act of 1999, effective July 1, 2001, appraisers, along with all providers of personal financial services are now required by federal law to inform their clients of the policies of the firm with regard to the privacy of client nonpublic personal information. As professionals, we understand that your privacy is very important to you and are pleased to provide you with this information. In the course of performing appraisals, we may collect what is known as "nonpublic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonai~'iliated third parties, except as necessary or as required by law. Byway of example, a necessary disclosure would be to our independent contractors, and in certain situations, to unrelated third party consultants who need to know that information to assist us in providing appraisal services to you. All of our independent contractors and any third party consultants we engage are informed that any information they see as part of an appraisal assignment is to be maintained in strict confidence within the firm. A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal ac#ion to which you are a-party. We will retain records relating to professional services that we have provided to you for a reasonable time so that we are better able to assist you with your needs. In order to protect your nonpublic personal information from unauthorized access by third parties, we maintain physical, electronic and procedural safeguards that comply with our professional standards to insure the security and integrity of your information. 16 LARRY E. FOOTS REAL ESTATE APPRAISER EXPERIENCE: 1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa. Principal Broker, LaRue Development Company, Carlisle, Pa. 1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa. 1972-1976: Realtor Associate, Jack Gaughan Realtor, Carlisle, Pa. Appraisal experience included undeveloped land, farms, building lots, single-family dwellings, mobile home parks, medical centers, nursing homes, motels, apartment buildings and complexes, office buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, daycare centers, warehouses, and manufacturing facilities. EDUCATION: Bachelor of Business Administration, Pennsylvania State University, 1976. Associate Bachelor of Business Administration, Harrisburg Area Community College, 1974. Diploma, Carlisle Senior High Schoo1,1965. Certificate, Pennsylvania Realtors Institute, GRI I, GRI II, GRI III. Certificate, Realtors National Marketing Institute, Ci 101, CI 102, CI 103, CI 104, CI 105. Standards of Professional Practice, American Institute of Real Estate Appraisers. Real Estate Appraisal Principles, American Institute of Real Estate Appraisers. Residential Valuation, American Institute of Real Estate Appraisers. Appraisal Procedures, Appraisal Institute. Principles of Income Property Appraising, Appraisal Institute. Case Studies in Real Estate Valuation, Appraisal Institute. Report Writing and Valuation Analysis, Appraisal Institute. PROFESSIONAL LICENSES: General Appraiser #GA-000014L, Commonwealth of Pennsylvania. Real Estate Broker #RB-029729-A, Commonwealth of Pennsylvania. PROFESSIONAL DESIGNATIONS EARNED: GRI: Graduate of the Pennsylvania Realtors Institute, awarded by the Pennsyl- vania Association of Realtors: CRS: Certified Residential Specialist, awarded by the Realtors National Market- ing Institute of the National Association of Realtors. CC1M: Certified Commercial Investment Member, awarded by the Realtors National Marketing Institute of the National Association of Realtors. PROFESSIONAL ORGANIZATION AFFILIATIONS: National Association of Realtors Appraisal Section. Greater Harrisburg Association of Realtors. Pennsylvania Association of Realtors. National Association of Realtors. Realtors National Marketing Institute. 17 PAST CLIENTS: Borough of Carlisle Keystone Financial Mortgage Cornerstone Federal Credit Union Pennsylvania State Bank Commerce Bank Cumberland-Perry Association for Retarded Citizens Carlisle Suburban Authority Members 18` Federal Credit Union Pennsylvania National Bank Evans Financial Corporation Greenawalt & Company, CPA Smith's Transfer Corporation Carlisle Deparhnent of Parks and Recreation Executive Relocation Services Carlisle Area School District Messiah Homes, Incorporated ERA Eastern Regional Services Pennsylvania Turnpike Commission Chase Home Mortgage Corporation Defense Activities Federal Credit Union Pennsylvania State Employees Credit Union PNC Mortgage Corporation F&M Trust Company . National City Mortgage Corporation Washington Mutual Home Loans, Inc. Prudential Relocation Services Lender's Choice Market Intelligence, Incorporated United Telephone Employees Federal Credit Union Cumberland County Commissioners Allstate Enterprises Mortgage Corporation Dickinson College PPG Industries, Incorporated .Gettysburg College Redevelopment Authority of Cumberland County Record Data Appraisal Services, Incorporated First United Federal Savings Association Fulton Bank .United States Marshall Service GMAC Mortgage Corporation Orrstown Bank Letterkenny Federal Credit Union BancPlus Mortgage Corporation Coldwell Banker Relocation Services, Incorporated Central Pennsylvania Savings Bank Mellon Bank Provident Home Mortgage Corporation Drovers Bank American Home Bank Trans Union MST Mortgage Corporation Cody Financial Mortgage Services Waypoint Bank Northwest Savings Bank Blue BaII National Bank Adams County National Bank Countrywide Home Loans Aarrow Mortgage Various law firms and individuals 18 PHOTOGRAPHS OF THE SUBJECT IMPROVEMENTS 19 STREET SCENES AT THE SUBJECT PROPERTY 20 'ARABLE SALE NO. 2 21 COMPARABLE SALE NO. 1 COMPARABLE SALE NO. 3 © 2oG m p~.61~tl:ft SUBJECT PROPERTY LOCATION MAP 22 APPRAISAL REPORT 110 FAIRFIELD STREET NEWVILLE, PENNSYLVANIA PREPARED FOR ESTATE OF GEORGE W. DEWALT JR. BY LARRY E, FOOTS DIVERSIFIED APPRAISAL SERVICES 35 EAST HIGH STREET, SUITE 101 CARLISLE, PENNSYLVANIA 17013-3052 (717) 249-2758 COPY, SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS LOCATION: 110 Fairfield Street Newville, Pennsylvania TAX PARCEL NUMBER: 28-201-754-081 IMPROVEMENTS: Two-story semi-detached single-family dwelling. PROPERTY RIGHTS: Fee simple interest. OWNERSHIP HISTORY: The subject property is owned by Darrell W, & George W. Dewalt Jr. The property last transferred on March 24, 1995 for a reported consideration of $1.00 and ownership conveyed on Deed Book 119 page 1156. SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the subject's area, an inspection of the subject properly, an estimation of the property's highest and best use, consideration of all three approaches to value, and the application of those relevant to the valuation of the subject. CLIENT: Estate of George W. Dewalt Jr. INTENDED USER: Estate of George W. Dewait Jr. OBJECTIVE: To estimate the market value of the subject property as unencumbered. EFFECTIVE DATE: January 16, 2012. INSPECTION DATE: February 8, 2012: HIGHEST AND BEST USE: Continued use as asingle-family residence. COST APPROACH: N.A. SALES APPROACH: $56,500 INCOME APPROACH: N.A. FINAL VALUE CONCLUSION: $56,500 2 THE VALUATION PROCESS The valuation process is defined in The Appraisal of Real Estate as published by the Appraisal Institute, as "a systematic set of procedures an appraiser follows to provide answers to a client's questions about real property value." It consists of a series of steps that are appropriate to a specific and particular appraisal assignment that begins with a client engaging a real estate appraiser to develop an opinion of value for a specific property as of a given effective date and ends when the appraiser communicates and reports the final conclusions and opinions to the client. Definition of the Appraisal Problem: The fast step in the appraisal process includes the presentation of the following: 1. Identification of the client, the intended use, and the intended users of the appraisal report. 2. The purpose of the appraisal, including a definition of the value being reported. 3. Determination of the effecfiive date of the appraisal report. 4. Extraordinary assumptions that are applicable to the appraisal assignment. 5. Hypothetical conditions that are applicable to the appraisal assignment. Scope of Work: Scope of work is defined in the Uniform Standards of Professional Practice as being "the type and extent of research and analyses in an assignment " This includes the degree and extent of research and the data that is deemed as necessary to develop a credible opinion of value for the property being appraised. Data Collection and Analysis: The appraiser must gather and analyze market area data, subject property data, and comparable property data that is relative and relevant to the appraisal assignment. Development and Application of Traditional ApproacLes to Value: The appraiser must consider which of the three traditional approaches to value aze applicable, relevant, and necessary for developing a credible opinion of value for the subject property. These three traditional approaches to value include the Cost Approach, Sales Comparison Approach, and Income Capitalization Approach. When two or more of these approaches to value are developed, the appraiser must determine the amount of emphasis and consideration to be given to each of those approaches to value, since one or more may have greater significance in the appraisal of a specific property. Reconciliation of Value Indications and Final Opinion of Value: The final step in the valuation process is the reconciliation of the value indications developed by the appraiser. Reconciliation is the analysis of alternative conclusions to arrive at a fuzai value estimate. Reconciliation is required because different value indications result from the use of multiple approaches to value and within the application of a single approach. The final value estimate is not derived simply by applying technical and quantitative 3 procedures, rather, it involves the exercise of judgment, and the value conclusion reached must lae consistent with market thirilang. 4 APPRAISAL CERTIFICATION I hereby certify that upon application for valuation by: Estate of George W. Dewalt Jr. the undersigned personally inspected the following described property: All that certain piece or parcel of land, with the improvements thereon erected, situate in Newville, Cumberland County, Pennsylvania, bounded and described as follows: Beginning at a point on the north side of Fairfield Street at corner of other lot now or formerly of Lester H. and Carrie A. Shively; thence along the northern side of Fairfield Street in an easterly direction, twenty-three (23}feet nine (09) inches, mare or less, to a point on line of lot now or formerly of Lee HaUenbaugh, formerly of S. Elmer Shenk; thence along the said lot now or formerly of Lee Hollenbaugh in a northerly direction, twenty-six (Z ,~ feet, more or less, to a point on the same; thence along the same and still in a northerly direction, ninety- three (93) feet, more or less, to a point on the southern side of Liberty Alley; thence along the southern side of Liberty Alley to a point on the other lot now or foimerly of Lester H, and Carrie A. Shively; thence in a southerly direction along the latter lot and through the center of the partition wall dividing the dwelling house erected on the lot hereby conveyed from the dwelling house erected on the lot now or formerly of Lester H. and Carrie A. Shively, on the west, one hundredtwenty-four (I24) feet seven (07) inches, more or less, to a point the place of begirming. To the best of my knowledge and belief the statements contained in this report are true and correct, and that neither the employment to make this appraisal nor the compensation is contingent upon the value reported, and that in my opinion the Market Value as of January 16, 2012 is: FIFTY -- SIX THOUSAND FIVE HUNDRED DOLLARS $56sao The property was appraised as a whole, subject to the contingent and limiting conditions outlined herein. ~;~ Larry E. Foote Pa. Certified General Appraiser GA-000014-L Beth A. Shenk Appraiser Trainee 5 INTENDED USE OF THE APPRAISAL The intended use of this appraisal is to estimate the Market Value of the subject property as of January 1 G, 2012. Market Value is defined as the most probable price which a property should bring in a comperitive and open market under all conditions requisite to a fair safe, 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: a. Buyer and seller are typically motivated. b. Both parties are well informed or well advised, and each acting in what he considers his own best interest. c. A reasonable time is allowed for exposure in the open market. d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto. e. 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. Source: Office of the Comptroller of the Currency, 12 CFI §34.42(f). HIGHEST AND BEST USE Highest and Best Use is defined by the Appraisal Terminology and Handbook, published by the Appraisal Institute, as "the most profitable likely use to which a property can be put". The opinion of such use may be based on the highest and most profitable co~rtinuous use to which the property is adapted and needed, or likely to be in demand, in the reasonable near future. However, elements affecting value that depend upon events or a combination of occurrences which, while within the realm of possibility, are not fairly shown to be reasonably probable, should be excluded from consideration. Also, if the intended use is dependent on an uncertain act of another person, the intention cannot be considered. Based on the above definition and after seeing the site, neighborhood, and area, it is my opinion that the present use of the subject is its Highest and Best Use. 6 SITE DATA ADDRESS: TOWNSHIP: COUNTY: STATE: LOT SIZE: SEWERS: WATER: ELECTRICITY: LANDSCAPING: 110 Fairfield Street, Newville, PA 17241 Newville Borough Cumberland Pennsylvania .09 acre Public septic. Public water. PP&L Typical for the area, with a sodded lawn, trees and shrubs. DETRIMENTAL INFLUENCES None. Pride of ownership is evident throughout the neighborhood. DESCRIPTION OF IMPROVEMENTS GENERAL DESCRIPTION: Two-story semi-detached single-family dwelling containing approximately 1,194 square feet of gross living area above grade. CONDTI'iON: Exterior: Good Interior: Fair ROOMS: First Floor: Living room, kitchen, bedroom, bathroom Second Floor: Two bedrooms, bathroom Basement: Full, unfinished EXTERIOR: Foundation: Stone. Walls: Vinyl. Sash: Single-glazed. Gutters: Aluminum. Roof: Gable, with metal. Storm units: Storn~ windows. 7 INTERIOR, PRINCIPAL ROOMS: Flooring: Wood. Walls: Plaster. Ceilings: Drywall. Trim: Painted wood. KITCHEN: Cabinets: Metal. Counters: Laminate. Walls: Plaster. Flooring: Carpet. Sink: Single-bowl, metal BATHROOM: Flooring: Carpet. Walls: Wa1I board. Bathtub: Built-in, with shower. Lavatory: Vanity. Water closet: Two-piece. Medicine cabinet: Wall mounted. CONSTRUCTION: Joists: wood Beams: woos Columns: Steel & wood. Plumbing: Copper, PVC. HEATING: Electric COOLING: None HOT WATER: Electric, 40-gallon. ELECTRIC: Circuit breaker system,100-ampere. OTHER: GENERAL CONDITION: All improvements. are considered to be in fair condition on the interior and good on the exterior, with mechanical systems appearing to be adequate and functioning properly. 8 THE APPRAISAL PROCESS Three approaches to value are generally included in an appraisal report. These techniques include the cost approach, sales comparison approach, and income approach to value. The cost approach to value is based on the assumption that the reproduction cost of a building plus land value, tends to set the upper limit to value. A key assumption is that a newly constructed building would have advantages over the existing building, therefore an evaluation focuses upon disadvantages or deficiencies (depreciation) of the existing building compared to anew facility. Due to the age of the subject improvements, the cost approach is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. The sales comparison approach to value assumes that under normal conditions, a given number of parties acting intelligently and voluntarily, tend to set a pattern from which value can be estimated. Application of this approach relies an a comparison of the subject with a su3~cient number of recent transactions of comparable properties in the market, based on a common unit, such as price per square foot of building area. The income approach concerns itself with present worth of the future potential benefits of a property. The initial estimate involves the net income, which a fully informed person is justified in assuming the properly will produce during its remaining useful life. This estimated net income is then capitalized into a value estimate, based upon the Ievel of risk as compared with that of a similar type and class. Since homes similar to the subject are not typically utilized as income-producing investment properties, the income approach to value is considered to be inappropriate and has, therefore, not been included in the development of this appraisal report. 9 SALES COMPARISON APPROACH In arriving at this conclusion of the value of the subject property, the appraiser made a survey of properties that have sold in the area of the subject property. Consideration was given and adjustments were made on each comparable sale as to time of sale, size, location, as well as all other factors that might affect value. A resume of some of the sales considered by the appraiser is as follows: SALE NO. 1 Location: Date of Sale: Sale Price: Size: Unit Price; S .ENO. 2: Location: Date of Sale: Sale Price: Size: Unit Price: SALE "NO. 3: Location: Date of Sale: Sale Price: Size: Unit Price: 26 Fairfield St, Newville 08/1912011 $47,000 1,424 square feet. $33.00 per square foot. 7 N High St, Newville 12/16/2010 $60,000 1,200 square feet. $50.00 per square foot. 33 Parsonage St, Newville 07/29/2011 $60,000 1,588 square feet. $37.78 per square foot. The appraiser, in addition to the sales listed, also considered several additional sales in arriving at his final opinion of value. On the Sales Comparison Analysis form that follows this page are dollar adjustments reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of the subject; if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus (+) adjustment is made, thus increasing the indicated value of the subject. After making all of the necessary adjustments, it is the appraiser's considered opinion that the indicated value of the subject property by the Sales Comparison Approach is $56,500. 10 SALES COMPARISON ANALYSIS ITEM SUBJECT COMPARABLE #1 COMPARABLE #2 COMPARABLE #3 Addross 110 Fairfield St NevwiTle 26 Fairfield St Ne~wille 7 N High St Nevwillo 33 Parsonage St Newville Proximity to Subject .17 mito .61 mile .30 mile Sale Price Price / Sq. Ft. GLA N.A N.A. 547,000 533.00 560,000 SS0.00 560,000 537.78 Data Source Enapaxion CPMI, /110203276, Courthouse CPML#10186379, Courthouse ADJUSTMENT'S DESCRIPTION DESCR)PTION S Adjust. DESCRiPT10N S Adjust. DESCRIPTION S Adjust. Sales or Financing Concessions Conventional-sells paid closing coat for buyer 51410. -1410 VA- seller paid closing cxistforbuyer 53964. -3964 Cash Date of Salo /Time A: of 01/16/2012 08/19!201 k 12/16/20!0 07/29/2011 Locetioa Averago Average Average Average Site / Vlew .09 acro . i l acre .03 acct .17 acre -1,600 Design and Appoel 2-story 2~tory 2-story 2-story Construction Vinyl Asbestos siding Vinyl siding Vinyl siding Age 132 yams 112 years 156 years 42 years -5,000 Condition Fair Fair Fair Fair Above Grade m R C Tot. Bed. Bath Tot. Bed. Beth Tot. Bed. Bath Tot. Bed. Bath oom ou 5 3 2 6 3 2 -2000 6 3 L 6 3 1 Grose Living Area 1,194 sgnaro feat 1,424 square fat -4600 1,200 square feet 1,388 squato fact -7,900 Basenrart BtPinished Rooms Below Cicada Full ba~tnent Partial basement Partial besoment Full basement Puactiatal Utili A Similar Similar Similar Heating !Cooling Electric baseboard JNo centre! air Oil forced air/ Cantrell air -2000 Oil i~rCOd air /no control air Oil forced air lno cmtrat air / rt Nosre None None Nono Porches, Patios P etc. Porch, patio Porch, balcony Porch +500 Covered patio, baloon Special Energy Tsfficient Itoms 7'ypicx! ~r the on. Similar Similar Similar F' I a None None Notie None Other (e.g. Idtchen equip., remodeling) Nat ', total Iadica<ed Vahre of 3ub'ect Built-ins. Similar -!0 010 S36 990 Similar -3 464 S56 53b Similar -14 S00 545 S00 FINAL IMJICATED VALUE OF SUBJECT PROPERTY: $56,500 I1 CORRELATION Correlation may be defined as "the bringing together of parts in a proper relationship." The parts of this appraisal report are the following approaches to value your appraiser used: Value Indicated by Cost Approach N.A. Value Indicated by Sales Comparison Approach $Sb,500 Value Indicated by Income Approach N.A. These approaches are representative of the market value of the subject property. I have carefully reexamined each step in each method, and I believe the conclusions accurately reflect the attitude of typical purchasers of this type property in this neighborhood. It is my belief that this reexamination has confirmed the original conclusions. The Cost Approach will result in an excellent estimate if atl elements are figured accurately, because no prudent person will pay more for a properly than the cost to produce a substitute property with equal desirability and utility. Purchasers of the type of dwelling typical of the subject property are more concerned with amenities than with hypothetical replacement of the properly. Due to the age of the subject improvements, the Cost Approach is considered to be inappropriate and has not been included in this appraisal report. The Sales Comparison Approach was based on several recent sales of properties similar to that of the subject, all of which are located in the same general area. The adjusted sales prices are most consistent under comparison. This approach is the most reliable because it reflects the reactions of typical buyers and sellers in the market. The Income Approach is most applicable to income producing properties or properties that are primarily utilized for income producing purposes. Purchasers of income producing properties are willing to pay no more for a particular property than the net operating income will support. Since the majority of properties similar to the subject are not utilized for income producing purposes, this approach to value has not been included in this appraisal report. Therefore, as a result of this appraisal and analysis, it is this appraiser's considered judgment and opinion that the Market Value of the subject property, as of January Yb, 2012, is: FIFTY -SIX THOUSAND FIVE HUNDRED DOLLARS $56,500 12 UNDERLYING ASSUMPTIONS AND LIMITING CONDITIONS SUBJECT TO THIS APPRAISAL l . I assume no responsibility for matters legal in nature, nor do I render any opinion as to the title, which is assumed to be marketable. The property is appraised as though under responsible ownership. 2. The legal description used herein is correct. 3. I have made no survey of the property, and the boundaries are taken from records believed to be reliable. 4. 1 assume that there are no hidden or unapparent conditions of the property, subsoil or structures which would render it more or less valuable. I assume no responsibility for such conditions or for engineering which might be required to discover such factors. 5. The information, estimates, and opinions furnished to me and contained in this report were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy can be assumed by me. 6. This report is to be used in its entirety and only for the purpose for which it was rendered. 7. Neither alI nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser or the film with which he is connected) shall be reproduced, published, or disseminated to the public through advertising media, public relations media, news media, sales media, or any other public means of communication, without the prior written consent and approval of the appraiser. 8. This appraisal was prepared under the extraordinary assumption that any easements or rights of way of record have no adverse impact upon the highest and best use or value herein reported. A title search was not requested nor included in the scope of work for this assignment. 9. This appraisal was prepared for the exclusive use of the client identified in this appraisal report. The information and opinions contained in this appraisal set forth the appraiser's best judgment in light of the information available at the time of the preparation of this report. Any use of this appraisal by any other person or entity, or any reliance or decisions based on this appraisal are the sole responsibility and at the sole risk of the third party. The appraiser accepts no responsibility for damages suffered by any third party as a result of reliance on or decisions made or actions taken based on this report. 13 CERTIFICATE OF APPRAISAL Your appraiser hereby certifies that: 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 unbiased professional analyses, opinions, and conclusions. 3. I have no present of prospective interest in the properly that is the subject of this report, and no personal interest 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 for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 7. To the best of my knowledge and belief, the statements of fact contained in this appraisal report, upon which the analyses, opinions, and conclusions expressed herein are based, are true and correct. 8. This appraisal report sets forth all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions, and conclusions contained in this report. 9. This appraisal report has been made in conformity with the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation, and is subject to the requirements of the Cade of Professional Ethics and .Standards of Professional Conduct of the National Association of Realtors Appraisal Section. 14 10. No one other than the undersigned prepared the analyses, conclusions, and opinions concerning real estate that are set forth in this appraisal report. Larry E. Foote Pa. Certif ed General Appraiser GA-000014-L Beth A. Shenk Appraiser Trainee IS PRIVACY NOTICE Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1, 2001, appraisers, along with all providers of personal financial services are now required by federal law to inform their clients of the policies of the. firm with regard to the privacy of client nonpublic personal information. As professionals, we understand that your privacy is very important to you and are pleased to provide you with this information. In the course of performing appraisals, we may collect what is known as "nonpublic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessary disclosure would be to our independent contractors, and in certain situations, to unrelated third party consultants who need to know that information to assist us in providing appraisal services to you. All of our independent contractors and any third party consultants we engage are informed that any information they see as part of an appraisal assignment is to be maintained in strict confidence within the firm. A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal action to which you are a party. We will retain records relating to professional services that we have provided to you for a reasonable time so that we are better able to assist you with your needs. In order to protect your nonpublic personal information from unauthorized access by third parties, we maintain physical, electronic and procedural safeguards that comply with our professional standards to insure the security and integrity of your information. 16 LARRY E. FOOTS REAL ESTATE APPRAISER EXPERIENCE: 1979-Present: Chief Appraiser, Diversified Appraisal Services, Cazlisle, Pa. Principal Broker, LaRue Development Company, Carlisle, Pa. 1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa. 1972-1976: Realtor Associate, Jack Gaughen Reahor, Carlisle, Pa. Appraisal experience included undeveloped land, farms, building lots, single-family dwellings, mobile home parks, medical centers, nursing homes, motels, apartment buildings and complexes, office buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, daycare canters, warehouses, and manufacturing facilities. EDUCATION: Bachelor of Business Administration, Pennsylvania State University, 1976. Associate Bachelor of Business Administration, Harrisburg Area Community College, 1974. Diploma, Carlisle Senior High School, 1965. Certificate, Pennsylvania Realtors Institute, GRI I, GRI II, GRI III. Certificate, Realtors National Marketing Institute, CI 101, CI 102, CI 103, CI 104, CI 105. Standards of Professional Practice, American Institute of Real Estate Appraisers. -Real Estate Appraisal Principles, American Institute of Real Estate Appraisers. Residential Valuation, American Institute of Real Estate Appraisers. Appraisal Procedures, Appraisal Institute. Principles of Income Property Appraising, Appraisal Institute. Case Studies in Real Estate Valuation, Appraisal Institute. Report Writing and Valuation Analysis, Appraisal Institute. PROFESSIONAL .LICENSES: . General Appraiser #GA-000014-L, Commonwealth of Pennsylvania. Real Estate Broker #RB-029729-A, Commonwealth of Pennsylvania. PROFESSIONAL DESIGNATIONS EARNED: GRI: Graduate of the Pennsylvania Realtors Institute, awarded by the Pennsyl- vania Association of Realtors. CRS: Certified Residential Specialist, awazded by the Realtors National Market- ing Institute of the National Association of Realtors. CC1M: Certified Commercial Investment Member, awarded by the Realtors National Marketing Institute of the National Association of Realtors. PROFESSIONAL ORGANIZATION AFFILIATIONS: National Association of Realtors Appraisal Section. Greater Harrisburg Association of Realtors. Pennsylvania Association of Realtors. National Association of Realtors. Realtors National Marketing Institute. 17 PAST Cr~IVTS: Borough of Carlisle Keystone Financial Mortgage Cornerstone Federal Credit Union Pennsylvania State Bank Commerce Bank Cumberland-Perry Association for Retarded Citizens Carlisle Suburban Authority Members I" Federal Credit Union Pennsylvania National Bank Evans Financial Corporation Greenawalt & Company, CPA Smith's Transfer Corporation Carlisle Department of Parks and Recreation Executive Relocation Services Carlisle Area School District Messiah Homes, Incorporated ERA Eastern Regional Services Pennsylvania Turnpike Commission Chase Home Mortgage Corporation Defense Activities Federal Credit Union Pennsylvania State Employees Credit Union PNC Mortgage Corporation FBcM Trust Company National City Mortgage Corporation Washington Mutual Home Loans, Inc. Pnadeirtial Relocation Services Lender's Choice Market Intelligence, Incorporated United Telephone Employees Federal Credit Union Cumberland County Commissioners Allstate. Enterprises Mortgage Corporation Dickinson College PPG Industries, Incorporated Gettysburg College Redevelopment Authority of Cumberland County .Record Data Appraisal Services, Incorporated First United Federal Savings Association Fulton Bank United States Harebell Service GMAC Mortgage Corporation . Orrstown Baak Letterkenny Federal Credit Union BancPlus Mortgage Corporation Coldwell .Banker Relocation Services, Incorporated Central Pennsylvania Savings Bank Mellon Bank Provident Home Mortgage Corporation Drovers Bank American Home Bank Trans Union M&T Mortgage Corporation Cody Financial Mortgage Services Waypoint Bank Northwest Savings Bank Blue Ball National Bank Adams County National Bank Countrywide Home Loans Aarrow Mortgage Various law firms and individuals I8 PHOTOGRAPHS OF THE SUBJECT IIVIPROVEMENTS 19 STREET SCENES AT TBE SUBJECT PROPERTY 20 21 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3 SUBJECT PROPERTY LOCATION MAP 22 ~~. ~ ~ .. ~~ ~~~~ RE: Estate of George W. DeWalt Jr. 277 Meadows Rd Newville, Pa 17241 Executor: Dustin DeWalt To: Smigel, Anderson & Sacks: 2001 Market Street Philadelphia, PA 19103 February 9, 2012 The decendent had an interest in 1 deposit account with Citizens Bank. In request to the following information. 1) Owners- George W Dewalt and Doris M Lehman 2) Account # 6202553824 was established 9/15/2003 in the Carlisle, Pa branch. 3) Account # 6050584371 is a home equity line of credit just in George W Dewalt's name only with a current balance of $27,611.34 as of 2/9/12, last payment was $415.00 on 2/1/12. 4) There was no safe deposit box in George W Dewalt's name 5) There has been no change in account ownership within one year. 6) $.10 of interest accrued on 1/13/12 7) The balance on the checking account is $1,653.96 Sincerely, 7 i Rod Zec~iman Branch Manager 2005 Linglestown Rd Harrisburg, Pa 17110 RBS 485DDD41D46 REV-485 EX (05-04) SAFE DEPOSIT BOX INVENTORY ~ of Revenue PLEASE L188 ORNSfNAL FORM ONLY Soda) Security or Deatlt CertYrcate Number Date of Death County Code Year Fle Number 208-28-6637 ~ 01/16/2012 21 12 :00112 Decedents Last Name G„~„ ~ r..e* ~,e,,,,, ... DeWalt Jr. ~ George,- W ..... ... ADDRESS ~ ~CEDENT STREW CffY: STATE: ZIP CODE: 277 Meadows Road Newville PA 17241 NAME AND ADDRESS OF PERSON REOUESTiNG THE OPENING OF THE SAFE DEPOSIT BOX r~E. Dustin K. DeWaR STREET AODRESS: ~ ~' ~ ~ CjTy: STATE: ZIP CODE: NAME, ADDRESS AND RELJITIONSFNP (IF ~ u utV ecumrT, of PERSON(S) PRESENT AT THE BOX OPENING e. NAME: ~air•~~ ~' '~/ r j\~. ~/ ~ ~ .~ RELATIONSFIIP: ,~,/ STREETADORESS: CITE f ~ STATE:. - .ZIP CODE: b. NAME: 1 --• -~ RELA710NSFIIP: r STREETADDRESS2~~ ~~~ A ~ -•-- - Ci7y: ~ q ~ ~I~~.-. ..-STATE: ZIP CODE: a NAME: RELATIONSHW: - STREETADDRESS: - CrrY: NAME AND ADDRESS OF FWIWCIAI.INSTRlfT10N WHERE THE SAFE DEPOSIT BOX N LOCATED STATE: ZIP CODE: F 8~ M Trust _ _ STRf~ADORESS: -• - --~- CrrY: .._. - STATE: ZIP CODE: 9 West B' S rin Avenue Newville PA 17241 NAME OF PERSON MAKING LAST ENTRY~i r e i ' • ~~~/~~~ GATE ANgTIAAE F ENTRY DATE OF C ; V 0 ~ RENT BOX NUMBER OF BOX ~+ r-~ TITLE UNDER WHICH BOX IS REQUESTED NAME AND ADDRESS OF PERSON(8) HAVING ACCESS TO BOX / a. NAME: ~ ~: STREETAD~ NN __'' STREET ADDRESS: - - STATE: ZIP CODE: NAME AND TRLE OF EMPLOYEE TAKNG Tiff INVENTORY Ro cr IUI. Mdr ~ ~-~rnf: WAS A WILL IN THE BOX4 ^ YES ®NO If yea, a. Data of wiq: b. Name and address of personal reprsssrlfafiva, H nafistl In the vrlll ~- _ -- '~ • - -- . NAME; STREETADDRESS: -- - ~- .. _ ~_. CITY: STATE: ZIP CODE: o. Name and address of aKomey, H any - - - - - .. -- -- - • - - - NAME: SIREETADDRESS: ~ CffY: STATE: ZIP CODE: 485D0041D46 485DDD41046 REV-485 EX SAFE DEPOSIT BOX INVENTORY F?age_~of ~ _ INSTRUCTIONS (1) Cash: Report total only. (2j Stocks: L'~ in detail every common or preferred cenificate, warrant ~ other rights found in box. Stocks are tq be designated by name of company, certificate number, date of ' Icate, Warne in which sfodc is registered, and number of shares and class of stock. (3) Obllgatlona of U.S. Govemmerrt: Number of items, date of issue, face value, names in which registered and type of ownership, i.e., jointry held. Payable on death. etc. (4) Bonds: Designate byname, amount, serial numtler, or other designation. (Bearer Bonds) ' (5) Bank and Savings and Loan Passbooks: State name of depositor, number of book, Nast date appearing in book, name of bank and branch, and balance. (6) Jewelry, Coins, Stamps, Manuscripts, etc: List and describe as fully as possible. (7) Deeds. Mortgsges, Current insurance Policies or other evidences of indebtedness: List and describe as:fully as possible. (B) All otller contents. (9) Retum completed form to: DEPARTMENT OF REVENUE MMERITANCE TAX DMBION DEPT. 260601 HARRISBURG, PA 77126-0601 tTEYI NO. rfE1N DESCRIPTION __..._ _ ~~ r'.~r l ~'r.•.~- ! ~ Dre p o .~' i ~"- a i^ -l ~ d d Q , - ~ _' ~,, ,~ _ . ) a ~ ~ /I.99 ~ - ~-~-- h d''Y~~' ~ ~ ~ a x.71-.f 1~+1, ~ ...0~~-C-~~ _ r~V ~`f~ L..r~ _ - ._ d ~ e ~ ~ ~a~ _ ..t,.~ ~ c C c ~c1 ~{ A n v-irs P ail c, ~~4 -- -- ,- -- - RTIFY Ip~ID9i PENALTY AF PER,rURY TNAT TIE ABOVE RECORD IS PERSON tiECEMNG COPY OF RRffcTAHD IXXIPLETE THE BEST OF AAY KNOWLEDGE AND BlLIEF SAFE DEPOSIT BOX INVENTORY: tl~T IoC w PaINr ww ZY" ICI ~ YYi ~ ril-~T+~c ~~ ~.- ww~T wuv,:~ii i5 criEC ~ia~ ~w~~'!'e c , Pibrrrnn.e~ - - -- --.. ~- ... - DwrE ~"_ ~~,-~~- _-k~C.~1~x ~7~ °- Ear~~~ .- PRIpTE BOX: ^ Eyr. w ^ Janl erne. a 9.re arpos;l oox NOTE: Attach tttdd(donal 8'/~" x 17"' shea>a:) if neca~ssary or us:s duplicates of th(e page of form, Tile Deparortent is autllodzed M larw 42 U.S.C. 8405 (c~(C)[i), to require 6acbslxa of soad secut~ rllxl>bers n connectal with atlrrlinistering state tax taws. The Deperhnenl uses the Sadal Seaxityy dxdx+r to idetdi<y the decedelu and peaortsl Iepresen0liwls of the esmte. the CortpnanxreaBtl may also use file infonnetion in exchange of tax infarma5on agreernenfs with Federal and local authoritr~. 711e stele taw txotlixls QIe CormlalxreaBis oersm~ rn», rssr~,.iN, ..,r,+;.~„r~~ b..:~ _~._ _. _-..- ROWE'S AUCTION SERVICE 2505 RITNER HIGHWAY CARLISLE, PA 17015 717-249-1978 To: Roger B. Morgenthal, Esquire 4431 North Front Street - 3rd Floor Harrisburg, PA 17110 From: William G. Rowe Rowe's Auction Service 2505 RiMer Highway Carlisle, PA 17015 Re: Personal Property Appraisal Estate of George W. Dewalt, Jr. 277 Meadows Newville, PA 17241 Date: February 23, 2012 OUTSIDE '1990 Plymouth Voyager - as is -parts Jeep frame -scrap Homemade cart Hudson Jet -parts =1990 Chevrolet van -scrap condition Ladder Old generator - as is -needs restored Metal pile -scrap Truck cap -scrap Tractor frame -Case -parts Welder -Red Seal Wheelbarrow Metal pile -scrap Blade Metal pile -scrap Plymouth parts -rusted Wheel Horse parts Scrap iron (shed) Utility truck - no engine -scrap Flatbed trailer - 1970's - as is -not working Snow blade Blade for International truck 1972 Ford truck - as is -parts STORAGE SHED Old starters -generators -parts GARAGE #1 Heater Bookcase Hunting clothes /accessories Car parts Coke cooler Wardrobe Dewalt Appraisal 1 $200.00 $85.00 $10.00 $125.00 $185.00 $10.00 $75.00 $40.00 $10.00 $200.00 $100.00 $20.00 $30.00 $50.00 $60.00 $75.00 $50.00 $20.00 $120.00 $65.00 $150.00 $250.00 $200.00 $115.00 $25.00 $150.00 $25.00 $35.00 $65.00 $45.00 02/23/2012 High chair Stand Chairs /rockers Potty chair /seat Display case Drill press International Scout #2 - 196,000 miles Band saw Compressor - as is -not working Jigsaw /frame Scrap metal Shovels Hunting accessories Ladder Table saw Hand tools -miscellaneous Power tools -older Bench router GARAGE #2 Willys - 1949 -restored -fair standard Plymouth - 1949 -restored -fair standard Transmission jack Oil changer • Chevrolet Chevelle - 1970 -restored -fair standard Clark tractor -restored Clark tractor -restored • Motorcycle - 1960's - as is -some restoration HOUSE (TRAILERI Table /chairs Desk Cabinet Beam bottles Recliners (2) Sofa Stool Oak cabinet Ammo /hunting related BEDROOM Dresser Antique clocks (2) Cedar chest Cast toys KITCHEN Washer /dryer Iron skillets /household BEDROOM Chest of drawers Water bed - no value Stands (2) Miscellaneous household $25.00 $30.00 $20.00 $20.00 $30.00 $35.00 $2,100.00 $25.00 $10.00 $30.00 $40.00 $20.00 $65.00 $20.00 $85.00 $65.00 $30.00 $100.00 $2,500.00 $2,800.00 $150.00 $75.00 $6,000.00 $550.00 $350.00 $350.00 $40.00 $10.00 $5.00 $15.00 $20.00 $25.00 $10.00 $200.00 $45.00 $40.00 $150.00 $60.00 $50.00 $80.00 $25.00 $40.00 $0.00 $10.00 $5.00 Dewalt Appraisal 2 02/23/2012 STORAGE -UNDER TRAILER Fishing rods /accessories $35.00 Christmas $15.00 Followina items one-half ownershio with Darrell Dewalt• Old tools & equipment from Dewalt Garage ($600) $300.00 Ford 8N tractor with bush hog ($1,600) $800.00 GUNS Ruger Bearcat .22 4" $200.00 Ruger Blackhawk .357 3 screw 6-1/2" $250.00 Ruger New Model Blackhawk .44 4-5/8" $375.00 Ruger Blackhawk .44 6-1/2" barrel 3 screw $400.00 Ruger Bearcat .22 4" $200.00 Ruger .22 auto pistol Mark I 6" barrel $175.00 Ruger Security 6 .357 6" $300.00 COP 38/.357 compact off duty police 4 barrel $400.00 Colt buntline scout .22 9-1/2" $400.00 Ruger Super Redhawk stainless .44 9-1/2" w/scope $300.00 American Arms PX .22 semi auto $200.00 Madison Inport Corp. .22 8 shot 6" barrel $75.00 H&R model 686 .22/22 mag 5-1/2" ban-el $175.00 High Standard Derringer DM101 22 mag $250.00 Ruger LCP .380 $275.00 Ruger P85 9mm blue $200.00 Charter Arms undercover .38 special $275.00 Anschutz Woodchucker 22 LR w/scone $225.00 Anschutz -54 m 22 mag w/scope $225.00 Chipmunk 22 LR w/scope $125.00 Chipmunk 22 mag $125.00 Cooey 75 22 LR single shot $75.00 CVA 45 cal flintlock $150.00 H & R Topper 88 12 ga 3" 28" barrel $75.00 H & R Topper 158 410 ga 3" 28" barrel $75.00 H & R Topper 158 20 ga 3" 26" barrel $75.00 Hi-Point "9" model 995 9mm semi $125.00 Ithaca 37 12 ga $125.00 Marlin Golden 39A 22 S, L & LR w/scope $400.00 Marlin 782 22 mag w/scope $100.00 Mossberg 40 22 LR bolt tube feed $100.00 Mossberg 80 410 ga bolt $75.00 Mossberg 340 KA 22 bolt clip $100.00 Mossberg 500 camper 410 ga 3" 18" barrel $175.00 Mauser 30.06 cal w/scope $125.00 Remington 03A3 30.06 w/scope $200.00 Remington md. Improved 22 falling block action $150.00 Remington 12A 22 LR take down pump $150.00 Remington 17 20 ga 26" $250.00 Remington 41 targetmaster 22 S-L-LR $250.00 Remington 341 P sportmaster 22 LR tube feed $125.00 Remington 514 22 LR single shot $125.00 Remington 514 .22 single shot $125.00 Remington 521 Target Junior Special 22 LR $250.00 Remington 550 .22 semi tube feed $175.00 Remington 581 .22 bolt Gip w/scope $125.00 Remington 742 30.06 w/scope $275.00 Remington 760 Game master 308 w/scope $375.00 Dewalt Appraisal 3 02/23/2012 Remington 7600 carbine 30.06 Remington 870 Wing master 20 ga 3" Remington 870 Express Magnum 20 ga 3" Rem choke Remington 870 12 ga 2-3/4" 30" barrel Remington 870 12 ga 3" 30" vent rib Ruger M-77 ultralight 257 Roberts w/scope Ruger 77 17 HMR w/scope Savage Md 5 Deluxe 22 LR Savage 220 20 ga 2-3/4" single barrel 28" Stevens 940E-SB 20gs 3" Thompson Hawkins 45 cal. Flintlock Winchester Ranger 120 20 ga 3" 28" vent rib Winchester 131 22 S-L-LR bolt clip w/scope W. L. Evens mdl 1816-US 60 cal-? Percussion smooth bore $425.00 $400.00 $250.00 $250.00 $250.00 $550.00 $450.00 $75.00 $75.00 $175.00 $125.00 $200.00 $200.00 $250.00 TOTAL $33,270.00 2___ William G. Rowe Dewalt Appraisal 4 02/23/2012 ROWE'S AUCTION SERVICE 2505 RITNER HIGHWAY CARLISLE, PA 17015 717-249-1978 To: Roger B. Morgenthal, Esquire 4431 North Front Street - 3rd Floor Harrisburg, PA 17110 From: William G. Rowe Rowe's Auction Service 2505 Ritner Highway Carlisle, PA 17015 Date: February 23, 2012 INVOICE Personal property appraisal -- Estate of George W. Dewalt, Jr. $145.00 JQHM E FAlWii qp~q{ $~~ 306 B~f~E3 flOAD ~; GARC7SL.E, Pk 17018 ~ ~• ~ ~ so-seers { ~ to onre Q PAY TQTFIE ~, .h ORDER OT t[~\ir.- f~i-~.s ~...:.. DoE~RS h:c; :. ~QJ~' NK [~`~~ _ ~~ , . __-t_ ' ~:O 3 i 30 3~8 4 6i: 5 3 -6 ~ 2 60 7 OB 3 ~ ~ ~`~-__-- ~- M _ ~ 31~'~` - ~~oa2ia ~.= A3,~__ -_ ;~._; -~,.~-ice _-,.~ ".-----6a~ ' ray wine -.~ .~,. - :sst',~" `'~-~ - _ "j. --- ~ , }:. 6ituNtga~t~ciix:.s. :'t^-'tJ ~K~' . ~ - ~ _ .oa.' ~,- ~s ?~... F:031QOD503~: 9958 2875;9~~' ODC3g5 ,. ...;~:• . : FAIL'OR-WA'GNEI~~ t~O5T 421 ~ ~ ~ ~ . . ~ ' . 7~.6 ~• ''~~~ • • ~~ HQME~AS$pCIArtON•'INC. ~ ' • ~ .6D-99J/3t3 , i • .. _ . .. ~ DATE' ~ yc . J, .• . ...: '; .. . ..........~ ...... .. • ~ ... t5~ .M .. ., ... ..... ~.,, . ..,.. ,-..: ~ 2 ~ :g ... t ~ ~ ~, t 1 Y f i t ~ ~ ~., ~ q i ^y 4 v ~ ~ 1 C7 ~ I + N ~ o : ; ~ ~ ~ N ~ s ~ ~' M ~ M 7 Y -ter M tL k~'] 1 N ,.~ h? ~~ ~ C: cn ! ~ . . ~ ~~ N ~ ~ V [~~z~ [~ ~ i ° w~~ ~ J ~~~ ~ ) Q ~ v (9 I I ~ CJ Q i Q.' ~ LL1 ~ II ... - - - ......__...~_...._.~ i .. • ~ w.. o0 ' a q Anemher { i i 1 a w i I R c i 1 i Z s Z S u oir, i ~~ .r 111 ~\iC\y !~ ~ ~ ~ i ~ ~ • .-! J i rf7 ~ ' ~ .. ' ~ i f~ ~ ~ . ~. .. ... . ,~, . .f I ~'1 m M ~~yy ~ i J ' ~ d> ~ Z m ~ Q _~ . „ ~ ~ i ~ i ~ . i ~ ~ ~~ ~f ~' 04/25/2012 16:28 7177769413 Iw•r'nv.r.rre wlutuar rnsurance company Millville PA 178.46-0280 GEORGE, w I7EWALT ESTATE 2 7 7 •MFADOWS . RD A7EWVILLE' PA 172~k1=0000 DEWALTS APPRAISAL PAGE 02 Check No. 0320.12 X .. r vl e ~IS7fu~u~a~nsurance "~ompariy _-----• -•- •--------~..___ _ __ ..- -..`__.~ . _ .. - . . __;-._. Millville PA 1 7 846-028 0 DATE DESCRIPTION AMOUNT 4/20/12 RETURI~T. PREMIi?M ON POLICX 7.0.851'09 44 - 00 J •P WOLFS INSLrR,ANCE INC GEORGE W DEWADT 96 'SOUTH HZGI~ STREET NEWVILLE PA 27241 P19'09e ae[ecn Hers Mllivllle M'lJtual ~11SfJl'8•f1C~ ~011'1pp8fly F1r,tColumblaBenk$TrverCo- - 2't•5 State Sfireet Millville PA 17846-02.80 SbnmFn~eq• Pq. ' Check No. 3~A~~2. 60-059303'13 • Date 4/20/12 .t:. r o. ;::ri-~ -t:c:u::a:t;£i:M >~ts~ '.~aroEi"..c'^,:f.:.:;:. ;.;5, .,~.., ... .. ,..,..:..:G::3:•:xxs~r.•;3;,sr.:rr<..,.z:r.>.::x~t:3.:;..r,~~,.y;......t.~r:,.,4.ga.,.:,,•~•,:,•,:~,s~,•~',:'s:,r~.:..:.o:.$:.~.<.:..<...:....>:a:~>,:lao,~ ollars to the Ordar of: ' GEORGS.W DEWALT ESTATE 277 P~ADOW'S. RD r'**+~~*+'44..00** NEWVILLfi DA• 17241-0000 ~. Void aher i60 days . `. -. Authorized. Signatureyl ~ - 05!3012012 16:51 7177769413 Adams electric Cooperative Ync. o "ei~a"""R° p ~ tlplbur , Pn i732'A ~ w~+w,-~ 6...y ca,~-,ice. K~ DEWALTS APPRAISAL PAGE 02 ~a.cn,~rc vc ~ n~.rr r~tiu nc ~ ~r.r No. 21200043 Date: OS/21/2012 DATE INVOICE ~ESCRIPTIpN 05/ 1205211 0813 isk Quarter Estates-Coop GL ACCOUNT DEPT AMOU .98 '-a Customer: 19480350 t)ARRELL W bE'WALT Totals: 544. M 05/30/2012 16:51 7177769413 ~~ Adams Electric i33! Blplorvlllo a0 ' Cooperative, InC. Oercy.bmp, PA 17319 ~Ti.niu.uc tR.n, G~N~i+z~ DEWALTS APPRAISAL PAGE 03 r~csisc ucisa~.n suvu racr~anv No. zx2oox45 Date: 05/22/2012 DATE INVOICE DESCRIPTION GL ACCOUNT DEPT AMOtI 05/2- 2%zp2Z 20 10080395 1st uarter states-Gb,T 142.9& -~ Customer: 19480350 DARRELL W DEWgLT --- 10 Totals: 106. n 07/13/2012 15:59 7177769413 .~.,~.NI~RICAN P.~oc~~>~ss~ !IBC b iaEAtTiI INSU~~ANCC COMVANY 7( NGW VpRK July 9, 2012 Darrell W. Dewalt 370 Meadows Road Newville, PA 17241 Re: Policy No: OS5138204 Insured: George W. Dewalt Jr DEWALTS APPRAISAL PAGE 02 P.O. Box 13451 Pensacola, FL 32591-3451 (B00) 275-7366 phone (978)964-0181 fax Dear Mr. Dewalt: We are pleased to advise that your claim has been approved. Enclosed, please find our check for $5,225.48 representing the benefit payable, as follows: • The face amount of $5,000.00 Plus premium refunds of $225.48 If you have any questions, please do not hesitate to give us a call. Sincerely, Claims Department Encl. 07/05/2012 19:28 .'~' 7177769413 DEWALTS APPRAISAL = 0 0 0 S Z 0 0 ~ 0 0 OIIt 6 B, ~II~~III I~II~~~I~~~~I~IuppulI~ VR •n II~~'~ppl V•, ....::' ...~.. . II ( ~I n I ~ 7N ~~IIn .. ~o~. rn~brm T ~;,:.,. -~! ;~ 2 O . G ,~. ,o T ~ m ~ ~ .'T1 .. r! N ~ = mp~om ~ D •~' !r" c~~mm ~. I~ m ' --i 0'~ O D ~ D ~m" , ~ . 1~ o -J _. ro ~ r w,.... v cn I .. _ .N ~ ~'` u~~. m ~, ~.._. ~1.~. .: ~ D ~ m. i< N o __ ~, ~ .~. .:::,o 0 0 ~:~'. ~,, b+ Lll -" :.TTl, ~~ .:Ir. N 1111 . _ I~ ~- I" J i ~:~: :. aaA892 ~, ~ ---°-i r., ~~ o ~.:,,~ ~ ~' ~ ~_ "~-J ti ~ •~ ~, m ~,,~ <`a1.. b ' ~•~. ~: `.~ ' ~ . t~3 ',° a ° _t ~ , ~. ., N~ j L ~.~ '~:. .., ~' a , ~ ; T ::0.. ~; ..~ . N' i ~?? OI ..... :iQ;: N .. Q,; y ,. ~ .N; PAGE 02 1 -:. ~ FIT*~~~ j• I ~ r~ ~~~~~~. s~ ~~ Q~ o00 ~ ~ ~ Q :r O > a~i O ;; E ~ ~ v, F `~' ~ o u n u ~ ~OC1F 0 ~ a O U ~ is 0 d ~' '^ a ..7 o u q A o ~o 0 ~ o 0 c a ~ S ~ u a. a` a ~ o M .~+ M C~4 V N 0 ,.., °~ x o H ~ ~ ~ U O H U W ~ ~ a a~A ~Aw p ~N„Qo4 ~O~ oX ~o A~w 8 W U3 mH ~M~a' ¢ ~ `O W ca aoaa ~az~*~wx o ~Q~zooHO '° x ~.~c~oaa~oz ~~~~z a a r ~~~ ~'A~ Q r~ 30~ A~z ~. .~ ~' a .~ L L .~•~ L N N ~ r~l ~ s, C s~ ~~ VU~ ~ W y F ~ ~ H a~ °~ ~v ~ ~~ a~ ww~u.tmtrustonline.com February 16, 2012 Smigel, Anderson & Sacks LLP Attorneys at Law 4431 North Front Street 3`d Floor Harrisburg PA 17110-1778 RE: George W. DeWalt, Jr. To Whom It May Concern: In reference to the above customer, our records show the enclosed information to be accurate as of the date of decedents death. If I may be of any further assistance, please contact me. Sincerely, g tam-. Brenda Hahn Deposit Operations Clerk 717-261-3668 717-264-6116 888-264-6116 P.O. Box 6010 Chambersburg, PA 17201-6010 TINA-N-C[AL. SOLUTIQNS.., FROM P~OP1E YOU. KNOW m ~ s n o ~ ~ ~ w v m ~ : 9 -1 N 7 ~ __ ~ W X ~ N 7 n n o s w c ~ w o o ~ N O C w 4' 3 1 0 ~ ~ 0 N ~ O ~ ~ 7 ~D dD N O O c0 (O ~ w ~ rn m m o n W O N ip N O ~ d N ~y ~ N W N Do ~ W O CI1 V ~ DJ ~ fD _ W CT1 O N O ~ ~ N ~ C A a _ '. N N ~ ~ N O O V p j ? M W rn v ~d O N ~ d O O 7 r n W c~v vc~ vc~ a ~ N ~ ~ - ~ ~ C (D y~ Q N fD ~ of vo vv f ~~ f~ ff ~ ~ ~ ~ . ~ z ` 0 0 ~ N O N O w o N O o m f D OD Q O J y S N 4 n ~ C d m ~ o o ~ Z m m ~~ L °1 m ,m m o ~ w~ a r -i m m 0 O O1 N d C d O 7 N iC~:~f Fairfield St. Nea~ville Provided for: Roger Dupert Original Principal 13U,~~t3t:~.{}U Origination Date C~91~31i96 Compo~~nd Method : Monthly BASIC ILLUSTRATIOhJ ------- ----------- PAYMEt~T ----------- MOiVTHLY ------------ MOhITHL'Y ----- MQNTHL't` REMAINIititC PERIOD PAYMEIdT Ii+ITEREBT PRIhICIPAL BALAl~ICE i :L ( 1_i :i. % i :.... ti Ltr :1. . C:; :i. .~: r+ d. . 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(1 J. : ~ 1..._ _ t . ~O GY ~. ., >`li i •._ .i ~ L. i n Gi .L .~ '+ ~..! . `': ~ ,,''tt 'Y• 1_! y ~`, ,_ i::) . •+,_I j +, ~ / (_t .} . i .~ `'r-'r_y 1....`.:, i .~_ .{. `s n C:, .T ~{• ~' . t } :~ . y '~ ._ i n =i• _ i .j .' ! i :{..~ ~. :... `:~r'i i. ., ~;~ ~. .:: i ..... :` i_) .~ ~•F] . `7' j. ,:i `i y i ~..,._ . v+~.i .i. ,, !~ i ! .~ .L ., } ~ , 17 .~ w Fi .i. .r.'1 ~ 1 ~ .. f .~ ! ,_) .._ . `~ l) •_.J C'.• , ,::, .' `` i~:i ~1 TOTALS 187,51.:,.95 95,89x.6:: 91,6~~~~.~ f~i :L . ` i'i t . :i. ;.~ i_; ...~ 1. w L'_i :I. • _' i t+ ~~ J::] -' i ::=+ t:, n ..,... ~, .~ , ~-., ~~ •._ .. c`] I.,i •;Y C_I .I. ' ~` _. 1 .. 4''~J j u !.:t .~ a. ~„!L; „ V~;j ~, : 1.11 ~~ n ~! 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L/ ~._~ . _ . .{..~.:: L_! i i ~ ~, vV i ~i I`•/ !. v L) .{. i + t v ~: ~ ~~ 11 V ~.~ -._ n [- ~'~~' s.. ~ y ~ .i L':: TOTALS 199, G5x . ~7 98, c778.69 1 {atJ, 974.5@ .. :f. ~' 1 i :E /` 1.:} ~~ ~:+ i . L~ :I. :L `~ _+ . r-; i ~ E31=i r_~) n 81 'ra , ~~ 1. i:s n E.; j i`u?;iil a4 ~sin,:]1 :L'.'~i~„'~t'_; C11.i:1. ,~:7,~}-ii~~,tj J 1.}_Ji 1_1111='I• C.i tai wC,]. '1=+ fr w 1. ;' t ~ :i. =:~ w =~• ~i' ,::: ~, , ~~} ca';_.. {~i t] ' L _t x:} j i~i j ,' 1 ~~• 'rv.' f a . Lt] :L a =1' 1. n ~`a ~_ fJ i w : .u, ~ , .._ . 1.•L,J;'Ciil1;,' ~~r,1 wL]i. j4,: . i.)L] ; 1: i 1 : . `} `=; i~ 1... c] :I. :i. ;~°;:~f n ~ i c~) ~.3:;:: t? . •_+,.~ .._.-1' , 1 .l w ~_} ~; i:: i i` %J ! i :I..' 1 rl ~' ~ :L .. ~r :i. :L .;::. ~~ . ~::• •+ f;3 '.', ....... . i L°:J ..? :: E .•...~~ , ~: l) r f i` ~ 1 .I. t .I. •"I' l.~!` , .i. . !`.J .I. i .4 ~ u .i_ 1_! lJ ,.:I I' n '~ .L 77 ~~ / .~~ •. ~'"Fj ='I"'1' ~ v ~. l.J •- Y `` 1_! r% r'' 1_! .{. % A. •~' ` ! Cl ~. w 7,~ i .~ ~. `~ v • ~7 tt,,~~-~ 7 ff V `{' 1. . ~ rJ L ~ i y +_)1_! / v ~:l {..1 i t_) / `J i : i ~ L:~ L`.I i n t:., .~ i i ~_~ n .r:~ _~ ~ _'~• ~~ . ~, r .. L_i , .t h +_! . ~J J 1 :L ,' C! :L i' 1='1' ` ~] : ~... a]~1. • ~ J. 1 C' ..~' ~' `'t i.• „ ~; c-~ i: ! ~' `-:a J.1~i . f::i ~1. .i. ~ , / L + i t '~ / .. .. . ~7 ~'! ~ (_; hS w i 4J 77 t~.'.,' i:] c? ~_~ n .~._ !. ~; ~ y 1_i r) _~ w L:) .~ LS T '1{~,59?w59 X64 ."1 11t~,945.xB Monthly Payment 961.61 Interest Rate Used 6.4vU%* Efifective•Rate 6.5911 }•' 3 [:~ E' L`] iJ f •i C {'1 to 1 I"1 j; ~ T' C~'_3 '~~ Fa I7 <3 .I. ;! ::: t: f` ~ ..:: ~~ ~ =] ~- ~.~, ~Ii; ~C,yysL ~~ i 2 3 % `~ ~ c ~ ~I~•ar~ru i ~~:; ~ri_:I-~.{_:;~ ~~~: t_>-ts I ors ~ 1t~._, Fairfield St. IVewville Provided for: Royer Rupert Original Principal 1"(7,~jU[7.ij~J Origination Date ~~9/iii/9b Compound Method : Monthly PAYMENT PERIOD i-? ~. i~ S 7 :L 1 :~ r' ~_: TOTALS i.? E:, ! i.? 1 : j. to i:?li~ij./1r i i f~ :' ~: ~? :L J' J. ~~ TOTALS Monthly Payment 9b1.61 Interest Rate Used 6.4UU`/, Effective• Rate 6.91`/. EiASIC ILLUSTRATION MONTHLY MONTHLY MONTHLY REMAINING PAYMENT INTEREST PRINCIPAL --------- BALANCE ---------- ---------- ---------- { _ - (, .... _ 'mot CtJ 1 n C..) .{. ~i I a ~ ~%~• CJtiJ F1 v 1._~ is 1. !F , ..J .J~ t . ~ ?CJ e...~ . e:t:~: 1 . , ~_' ri.; .L .:L• .L _ • i f:j ., -}._t S~•_~,_~ . .I. ! i l •_i y t:J.c:._ . ''~':•' . • f_} ~ C•% C~ ~ ~_I ' • ) v '-'I''._ ~ i n 1 ~:J ~~I_I .L '•.? i ~, -~Lt e '~' {{ 1.-~ rl J. n V ~ 77 '' I G•t ~I' . I:7'1' L `.~'..? {..l v C: ~~ . i' v:/ ~: ~% a ~{''~ 7 ~:' ~3 .i. . %3 ~. ~~" . %3 1 ' ~ 1 ~. . t: i t_1 ~.'i , L~ . ~' C} . t~ ck 1~1 .91 ~~2 8.55 i=jij,55 s~ ~,. 11,57 , 4i rI ~. . C:7 J. ',~ "Y '~ u I~ i..~. `` / ''~ 1 (~ . (:~ i Lr 4 ~ ~-? ~ v fJ `9 G u :7. ,. C:} 1 a• i ? n ! i.`_'j ti''--` ~.. L~ t.-, `a , ;.5 i=~ S . ~~' .L '! ~ .i. n (:.'7 .{. ~i _~ n i:'.;_t ''v.l ~. n L'~ J. '~ q % . 1C_7 v i+1 vS _. J •i~ 11 ~e5 ~} 1. a t~.~} A. l i.: i.i v i ~I' ~~~ L{' .L • ~.! if 1l.. ~ 9 1 1 i v / l.1 G' ~} '1 . e':; :I. 1. ~ ? n :L `r' t ~_~ 1 . ~' La' "_~~ ~I' ., ~' a' i:i ~_i (_i . is ,..~i ._t n {'~•.• ..? ~ . ~ _ .. _ ~ta,7G4.B~ 1~jCa,?84.82 1sU,s~C1C~.trtj _i_~~~ :Cr~~~~r~?:_;'L- ;an3.ly~ er ~,~~'.~:'.ti~ L1_Jt~'!I~.Ei~L SI~ERI•_.la UFkS:I:Uta_l T. ROWE PRICE RETIREMENT PLAN SERVICES, INC. Hello, Please see the answers to the questions respectively: 1. George W DeWalt Jr. 2. 12/29/2006- Beneficiary split from his belated wife Doris M DeWalt 3. 401k 4. No changes within the past 12 months 5. Statement attached 01 /01 /2012-01 / 16/2012 6. $34,986.37 7. Not applicable to us, only plan sponsored investment vehicles WWW.TROWEPRICE.COM P O. Box 1 ,•215 Baltimore, Maryland 21297-1215 4515 Painters Mill Road Owings Mills, faryland 21117-d903 I have attached a copy of Mr. George DeWalt's statement form the beginning of the year until the date of death. Sincerely, T. Rowe Price Retirement Plan Services, Inc. T.RowePlrice INVEST WITH CONFIDENCE c/o T. Rowe Price, P 0 Box 17215 Baltlmore MD 21297-1349 George W Dewalt Jr. 277 Meadows Road Newville PA 17241 Beginning Balance - Fees + Gain/Loss Ending Balance Vested Balance $34,986.37 $0.00 $0.00 $34,986.37 $34,986.37 100.0% Money Market/Stable Value AssetA/location shows how the money you've previously invested is distributed overdifferentinvestmentcategories. ~~ ~ 1 ' 1 zm s ~ $50,000 ~ _y,,,_ Ending Balance ~ $40,000 ~ $30,000 m $20,000 m $10,000 _ $0 12/31 /06 12/31 /07 12/31 /08 12/31 /09 12/31 /10 01 /16/12 T.R~wePlrice ~i INVEST WITH CONFIDENCE s2-oooooooi-a-o~ Retirement Account Summary January 1, 2012 to January 16, 2012 Ending Balance $34;986:37. Change in Balance $D.00 Yanr Actoent Retum Since 12/311006 1.26°!0* 104535-000001-12D228 Page 1 of3 Retirement Account Summary January 1, 2012 to January 16, 2012. CONTRIBUTIONS Employee Contributions This Period Employer Contributions This Period Total Employee Contributions $0.00 Total Employer Contributions $0.00 This section shows contributions made to youraccount, net of any contributions that may have been returned to you as an excess. It does not reflect any money you may have taken out of youraccount 8eginnlflg ' money ht1 'Ending ContritwfionType Balance'-- MeneyU>~t Gain/Loss 8alanse Basic Savings Pre-Tax $20,887.09 $0.00 $0.00 $20,887.09 Total Ematovee S2© ~7 09 SO' QO SQ a,Q S20 887 D9 Company Account $14,099.28 $0.00 $0.00 $14,099.28 Total Moyer 514 A89 28 SD .till S0 OD 514.[t9928 Ending $aanera X34,985.37 $O,OU $O.OD $3i1,98ti.37 8e~~ning Money In! Endirt~' Inxestment Balance t~ney tlpt 6a[ntlosa fiatance Mpnev Marlcet/Sta6te Value T. Rowe Price Stable Value-Sch. A $34,986.37 $0.00 $0.00 $34,986.37 Ending Balance $34,98ti.37 X0.00 ,$0,00_ ' $34,986<37 Money In/Money Out is the net total of aN contributions, payments, other credits, withdrawals, other debits, and transfers made to and from your investment(s). .~ ~ ~ ~ ~ "[ransactien tntarn?ation fiur8-Ing i3atance Shams Nurnt-er at =Shares FentiNate Transa~tlt-n Ilmount Price Shales tlwned T. Rowe Price Stable Value-Sch. A(Average cost pershare $1.OOJ 12/3112011 Beginning Balance $34,986.37 $1.00 34,986.3700 34,986.3700 01/16/2012 Ending Balance $34,986.37 $1.00 34,986.3700 34,986.3700 T.RoywePlrice INVEST WITH CONFIDENCE Page 2 of 3 !f you are (or will be) age 50 or older in 2012, you may be able to make extra catch-up contributions of $5, 500. To be eligible to make catch-up contributions, you7l need to contribute the maximum amount allowed by your plan (up to IRS limits -- $17,000 for 2012J. Retirement Account Summary January 1, 2012 to January 16, 2012 Diversification To help achieve long-term retirement security, you should give careful consideration to the benefits of swell-balanced and diversified investment portfolio. Spreading your assets among different types of investments can help you achieve a favorable rate of return, white minimizing your overall risk of losing money. This is because market or other economic conditions that cause one category ofassets, or one particularsecurity, to perform very well often cause anotherasset category, oranother particular security, to perform poorly. If you invest more than 20 % ofyour retirement savings in any one company or industry, your savings may not be properly diversified. Although diversification isnot aguarantee against loss, it is an effective strategy to help you manage investment risk. In deciding how to invest your retirement savings, you should take into account a!I of yourassets, including any retirement savings outside of the Pfan. No single approach is right for everyone because, among other factors, individuals have different financial goals, different time horizons for meeting their goofs, and different tolerances for risk. It is also important to periodically review your investment portfolio, yourinvestment objectives, and the investment options under the Plan to help ensure that your retirement savings wfll meet your retirement goals. For more information on individual investing and diversification, visit the Department of Labor website: http.//wwwdoLgov/ebsalnvesting.html. Vesting Your vested account balance refers to the amount of your account balance that you are entitled to receive when you terminate employment. You are 100% vested in the portion of youraccount from any contributions you make (for example: contributions out ofyour paycheck or rollovers from previous plans), plus ar minus any associated earnings or losses, and you become 100% vested in alI company matching or other employer contributions and any associated earnings or lasses immediately upon joining the plan. Please refer to your summary plan description for more information. "Your Account Return represents an estimate ofyour portfolio return based on available account data using the time-weighted daily valuation calculation widely used by financial analysts. The return reflects the results ofyour investment selections as well as account activity. All returns over one year are annualized. Other retum formulas may yield different results. Past performance is no guarantee of future results. Please review your statement and report any errors to T. Rowe Price within 60 days. T.R~wePlrice INVEST WITH CONFIDENCE 104535-000001-120228 Page 3 of3 Ewing Brothers Funeral Home, Inc. ~'" 630 South Hanover Street Carlisle, PA 17013- (717)243-2421 January 23, 2012 Darrell W. DeWaIt 370 Meadows Rd. Newville, PA 17241 The Funeral Service for George W. DeWalt Jr. We sincerely appreciate the confidence you have placed in us and will continue to assist you in every way we can. Please feel free to contact us if you have any questions in regard to this statement. THE FOLLOWING IS AN ITEMIZED STATEMENT OF THE SERVICES, FACILITIES, AUTOMOTIVE EQUIPMENT, AND MERCHANDISE THAT YOU SELECTED WHEN MAKING THE FUNERAL ARRANGEMENTS. 1. PROFESSIONAL SERVICES Services of Funeral Diroctor/Staff . $1865.00 Embalming. $895,00 Dressing, Ca_sketing, Cosmo etc. $295.00 2. FACILITIES AND SERVICES One Day event at FHome, $790.00 3. AUTOMOTIVE EQUIPMENT Vehicle to transfer remains to Funeral Home, $275.00 Hearse (Casket Coach) $275.00 Utility car for DC filing retrieval etc. $125.00 FUNERAL HOME SERVICE CHARGES $4520.00 SELECTED MERCHANDISE: SS Blue Praying Hands from Aurora $2950.00 American ChicfOBC, $1595.00 Acknowledgement cards, $10.00 Register Book(s) $40.00 Memorial folders , $85.00 THE COST OF OUR SERVICES, EQUIPMENT, AND MERCHANDISE THAT YOU HAVE SELECTED $9200.00 Cash Advances Opening Grave ??????? $600.00 Certified Copies of the Death Certificate , $120.00 The Sentinel with photo , $154.34 The Valley Times Star Obit . $60.00 TOTAL CASH ADVANCES AND SPECIAL CHARGES . $934.34 Total Total Cost , $10134.34 2 `~..~~ 5~ ~~~ ~ ~ ~v~ CUMBERLAND COUNTY RECORDER OF DEEDS RECEIPT Inv Number: 102930 Invoice Date: 02/29/2012 8:29:26 AM RECEIPT Reg/Drw ID: 0301 Customer: Last Change: Receipt By: COUNTER By: KW SMIGEL Chg # Charge /Payment /Fee Description Amount Inst # / Inst Date Municipality 1 DEED _ $63.00 201205928 LOWER MIFFLIN Grantor -DEWALT, GEORGE W JR 02/29/12 8:29:53 AM TOWNSHIP Grantee -DEWALT, DARRELL W Total Pages: 5 Consideration - $1.00 Tax Basis - $0.00 Return Via -PICKUP PARCEL IDENTIFICATION NUMBER 15-04-0393-010A- Fee Detail: AFFORDABLE HOUSING FEE $11.50 COUNTY RECORDING FEE $11.50 IMPROVEMENT FEE -COUNTY $2.00 IMPROVEMENT FEE -RECORDER $3.00 JCS /ATJ /CJEA FEE $23.50 PARCELS FEE $10.00 STATEMENT OF VALUE FEE $1.00 STATE WRIT FEE $0.50 LOWER MIFFLIN MUNICIPAL REALTY TAX FEE $0.00 SCHOOL DISTRICT REALTY TAX $0.00 DEED Grantor -DEWALT, GEORGE W JR Grantee -DEWALT, DARRELL W Consideration - $1.00 Tax Basis - $0.00 Return Via -PICKUP PARCEL IDENTIFICATION NUMBER 14-06-0025-031- Fee Detail: AFFORDABLE HOUSING FEE COUNTY RECORDING FEE IMPROVEMENT FEE -COUNTY IMPROVEMENT FEE -RECORDER JCS /ATJ /CJEA FEE PARCELS FEE STATEMENT OF VALUE FEE STATE WRIT FEE LOWER FRANKFORD MUNICIPAL REALTY TAX FEE SCHOOL DISTRICT REALTY TAX DEED Grantor -DEWALT, GEORGE W JR Grantee -DEWALT, DARRELL W Consideration - $1.00 Tax Basis - $0.00 Return Via -PICKUP PARCEL IDENTIFICATION NUMBER 15-04-0393-052- Fee Detail: AFFORDABLE HOUSING FEE COUNTY RECORDING FEE IMPROVEMENT FEE -COUNTY IMPROVEMENT FEE -RECORDER JCS /ATJ /CJEA FEE PARCELS FEE STATEMENT OF VALUE FEE STATE WRIT FEE LOWER MIFFLIN MUNICIPAL REALTY TAX FEE SCHOOL DISTRICT REALTY TAX DEED Grantor -DEWALT, GEORGE W JR Grantee -DEWALT, DARRELL W Consideration - $1.00 Tax Basis - $0.00 Return Via -PICKUP $11.50 $11.50 $2.00 $3.00 $23.50 $10.00 $1.00 $0.50 $0.00 $0.00 $11.50 $11.50 $2.00 $3.00 $23.50 $10.00 $1.00 $0.50 $0.00 $0.00 $63.00 201205929 LOWER FRANKFORD 02/29/12 8:29:54 AM TOWNSHIP Total Pages: 5 $63.00 201205930 LOWER MIFFLIN 02/29/12 8:29:55 AM TOWNSHIP Total Pages: 5 $63.00 201205931 LOWER MIFFLIN 02/29!12 8:29:56 AM TOWNSHIP Total Pages: 5 Date: Feb 29, 2012 8:33:50 AM Page CUMBERLAND COUNTY RECORDER OF DEEDS RECEIPT PARCEL IDENTIFICATION NUMBER 15-04-0393-036- Fee Detail AFFORDABLE HOUSING FEE $11.50 COUNTY RECORDING FEE $11.50 IMPROVEMENT FEE -COUNTY $2.00 IMPROVEMENT FEE -RECORDER $3.00 JCS /ATJ /CJEA FEE $23.50 PARCELS FEE $10.00 STATEMENT OF VALUE FEE $1.00 STATE WRIT FEE $0.50 LOWER MIFFLIN MUNICIPAL REALTY TAX FEE $0.00 SCHOOL DISTRICT REALTY TAX $0.00 DEED Grantor -DEWALT, GEORGE W JR Grantee -DEWALT, DARRELL W Consideration - $1.00 Tax Basis - $0.00 Return Via -PICKUP PARCEL IDENTIFICATION NUMBER 28-21-0361-051- Fee Detail: AFFORDABLE HOUSING FEE COUNTY RECORDING FEE IMPROVEMENT FEE-COUNTY IMPROVEMENT FEE -RECORDER JCS /ATJ /CJEA FEE PARCELS FEE STATEMENT OF VALUE FEE STATE WRIT FEE NEWVILLE BORO MUNICIPAL REALTY TAX FEE SCHOOL DISTRICT REALTY TAX TOTAL CHARGES PAYMENTS CHECK: 7371 TOTAL PAYMENTS AMOUNT DUE PAYMENT ON INVOICE BALANCE DUE REFUND DUE CASH REFUND $11.50 $11.50 $2.00 $3.00 $23.50 $10.00 $1.00 $G.50 $0.00 $0.00 $63.00 201205932 NEWVILLE BOROUGH - 02/29112 8:29:57 AM SOUTH WARD Total Pages: 6 $315.00 $318.00 $318.00 $315.00 ($315.00) $0.00 $3.00 ($3.00) Date: Feb 29, 2012 8:33:50 AM Page Divers~ed Appraisal Services Real Estate Appraisers and Consultants 35 East High Street Suite 101 Carlisle, Pennsylvania 17013-3052 Tel: 717.249.2758 Fax: 717.258.4701 r +. ^- _ - - -"fig S '"> a ~~ _ -l,r~ ~. a i j 1 ~_ ~ :+,p _.~.3 ~d d INVOICE Number 030812D DATE: March 8, 2012 TO: The estate of George W. Dewalt, Jr. AMOUNT: $1,750.00 FOR: Residential Appraisal Reports 305 Burgners Road, Carlisle, Pennsylvania 273 Meadows Road, Newville, Pennsylvania 277 Meadows Road, Newville, Pennsylvania 288 Meadows Road, Newville, Pennsylvania 110 Fairfield Street, Newville, Pennsylvania Thank You, ~ Larry E. Foote Certified General Appraiser GA-000014-L TERMS: Due upon receipt SMIGEL, ANDERSON & SACKS, LLP Attorneys at Law 4431 N. Front Street, 3rd Floor Harrisburg, PA 17110 717-234-2401, fax 717-234-3611 February 10, 2012 George W. DeWalt, Jr. c/o Dustin DeWalt 275 Meadows Road Newville, PA 17241 Our File No. 11078-1-9/RMM/RMM Invoice number 64532 Name of matter: Real Estate Services rendered Hours 03/22/11 Review correspondence from Atty Wolf; call to Darrell DeWalt to discuss. 0.5 03/23/11 Phone call to Atty Wolf; letter to Atty Wolf regarding agreement and other documents. 0.5 06/01/11 Phone call to Atty Wolfe concerning the deeds for right of way closure. 0.2 07/11/11 Call to Atty Wolf for an update on status of documents. 0.2 07/14/11 Phone call from Atty Wolf regarding the deeds, which he will send this week. 0.2 01/31/12 Letter to Atty Wolf with status of estate and transaction; forward short certificate. 0.3 Letter to and call with Atty Wolf about closing the land transfer matter. 0.5 2.4 Total for professional services $720.00 Summary Hours Rate Amo unt Roger M. Morgenthal 2.40 300.00 720 .00 Total current fees and costs $720.00 Total amount due and payable $720.00 Transactions after the 1st will appear on next statement. We accept VISA, MASTERCARD & DISCOVER. ~. .~'~3/26/2012 08:32 7177769413 '~. PINNACLEHEALTH HOSPITALS DEWALTS APPRAISAL PAGE 02 •• Financial assistance is avallabie for the uninsured -~.. or undertnsured who appty and qualify. Far more information, please cal! or see our website at -'-""' www.plnnaclehealth.org/t~iilpay_ GEORGE W DEWAI,T JR 277 MEADOWS RD N!?WVILLE PA 17241-9768 Patient Name; Oswalt ,G~.wtbe Statement gate: 0317 9'/12 Service Date(s): 41108/12-01/1KI12 ArcouM Number: 120197265 Primary blagnosis Code: 434,91 r Ins. 1: ToDAYS OPTION 7a.80 Ins. ~; MEDICARE A _Op Ins. 3: ins. a; 0 V For Account Information, Please Call (7'17) 230-3717 qr 1-800-803-60fi4 for ©ut of Area CatlS. See details on the back of. this statement. if payment has bin sent, please disregarci. ........Pay online at; https:tlpillpay. InnaCleh4altn.~rr 7otai Charges' 033,440.05 Payntents/AdJustmetirts: 030, b16.15- ACCpunt Balance: 01,.524.80 Patient Balance; 01, 750.00 Please tpay This /imt: $1,7b4~.00 Cof~r~cr u-4, Fqr questions, Ca11 our Billing Help tine at; 717-230-3717 for rocs! calls Ar 4-BpQ-603-B06a for Out of Area. Customer Service Hours: Mon-1N~d-Fri 7;Uq AM to 4;p0 PM Tues-Thurs 7:00 AM to 6:D6 pM Please Mnlfe: Your piryalcfin will bfy sepryr ibr prolt~essiOnsl servlces_ Make checks Payable Ta: PlnnaeieHealth Hospitals ifYWI~~~YM~~ii>~I~~~~ PinnacleHeatth ~ospttals i?o Bpx X853 Ha:Rxlsbux'g >PA 17105 ^ ® ^ CAbek Aen~ ~ryarr aadn~c w fAlaYrffiCf t~ranaTriae ^ #~sd~dSMl. AIlef~ nwAka W~yes Ae Mek DOefl7,8t7'4 ~ 001 p.53 GEQRQE W UEWALT JFZ 277 MEADOWS RD NEWViIIE IBA 17241-9769 ~. tae laar a alpla! on ~ A~a61t a/ ywrc era~ie tyed, ti your ITTT~~~itT~TTTI)~i'1!YRAT~T'f l~'tAA PINNACLE HEALTH HOSPITALS P.D. l~OX 2353 HARf21SBURC3, PA 171 ds-2353 r~nnarl~~nz97~~~nnnQaaA~snonnnononnn5 03/23/2012 15:47 7177769413 DEWALTS APPRAISAL Messenger Service Receipt SOLLENBERGERS MESSENGER SERV 2 9 WES'1'MINSTER DRIVE CARLIST~E, PA 17013 717-249-8149 For: DUSTIN KEITYi DEWALT 2 ~/ 5 MEADOWS RD NEWVILLE, P,A 17241 717-776-6584 Title # or Date of Birth: 22379155901 VIN or Driver's Number Tag Number or Eye Color XW02836• ^'Xear-Make or Soc. Sec.# 70 TOTER Transaction MV380/39 C)dc?mete.r ; p Comments: MAIL This item will be Mai~,ed to you. WARNING: Bureau regulata.on require that any item left in our office for 60 days be returned to the Bureau of Motor Vehicles as uzzclairned. I/We swear that I/we have applied Lor the above item(s) _ Sworn & subscribed to before me on 03/01/12. Notary seal PAGE 02 Invoice #= X1522 Date: 03/01/12 Time: 03:39 PM Clerks Initials: MND File Name: CARL12 State Fees 'Title Fee ............. 22.50 Encumbrance Fee.___._. o_oo Tag Transfer.......... 0.00 Regzstration_.,,....,. 0.00 Dup. Fee .............. 0.00 Increase Fee.......... 0.00 Replacement Fee....... 0.00 Tax-On $0.00.... 0.00 .. 0.00 • 0.00 Total State Fee....._. - 22.50 check #....---,...-•-- Service Fees Messenger Fee._..,.,,, 12.00 Temp Tag Fee.._....... 0.00 Notary Fee......_...., 5.00 Copy/Fax Fee_......... 0.00 Document Fee.__......_ 0.00 Check or M.O. Fee..... 0.00 •• 0.00 -- 0.00 . Total Service Fee..... ~_ 17.00 Service Fee Check #•.. cash Grand Total........... 39.50 Total Due ............. 39.50 Amount Paid.......,... 39.50 Paid in Ful.1 No Refunds on Service or Notary fees. We are not responsible for w~.rk the State fails to process. 03/23/2012 15:47 7177769413 DEWALTS APPRAISAL Messenger Service Receipt 50LLEN~ERGERS MESSENGER SERV 29 WESTMINSTER DRIVE CAR7~TSLE, PA 17013 717-249-8149 For: DARkELL WAYNE DEWALT 37U MEADOWS RD NEGTVILLE, PA 17241 717-776-6170 Title # or Date of Birth: 43082828202 VIN or Driver's Number Tag Number or Eye Color ; -Year-Make or Soc. Sec_# 90 CHEV SW Transaction Title Only Odometer 0 Comments: MA.x L This item will be Mailed to you. WARNING: Bureau reggulation require that any item left in our off~.ce for 60 days be returned to the Bureau of Motor vehicles as unclaimed. I/We Ewcar that I/we have applied for the above item (s) . Sword & subscribed to before me oz~ 03/23/12. Notary Seal PAGE 03 Invoice #: 22513 Date: 03/23/12 Time: 12:03 pM Clerks Initials: DAN File Name : C~RL12 State Feep Title Fee ............. 22.50 Encumbrance Fee....... 0-00 Tag Transfer,......... 0.00 Registration......... 0.00 Dup. Fee........----~- 0.00 Increase Fee........ 0.00 Replacement Fee._..... 0.00 Tax-On $0.00.... 0.00 -- 0.00 •. 0.00 Total State Fee_.,,... 22 50 Check #_.....-_.-.- „ Service Fees Messenger Fee.......,. 0.00 Temp Tag Fee.......... 0.00 N'o~ary Fee........---• 5.00 COPY/Fax Fee_.--•--_-- 0.00 Document Fee......... 10 00 Check or M.O_ Fee..... . 0.00 -• 0.00 •. 0.00 Total Service Fee..... iS.00 Service Fee Check #._. Cash Grand Total....._.._, 37.50 Total Due........,_..~ 37.SU Amount Paid........ 37-SO Paid in Full No Refunds on Service or Notary fees. We are not responsible foz work the State fails to process. 03!23/2012 15:47 7177769413 DEWALTS APPRAISAL PAGE 04 Messenger Service Receipt SOLLENBERGERS MESSENGER SERV 29 WESTMINSTER DRIVE CARLIS7~F, PA 17013 77.7-249-8149 Invoice #: 22512 For: DARRELL WAYNE DEWALT 370 MEADOWS RD Nb'WVILLE, Q.p, 17241 717-776-6170 Title # or Date of Birth: 367077,12106 VIN or Driver's Number Tag Number or Eye Color : -Year-Make or Soc. Sec_# 72 FORD TK Transaction : Title Only OdomPt?r 0 Comments: MAIL This item will be Mailed to you. WARNING: Bureau regulation require that any item left in our office for GO days bE returned to the Bureau of Motor vehicles as unclaimed. I/We swear that I/we have applied for the above item(s) . Sworn & subscribed to before me on 03/23/12. Notary Seal Date : 03/23 />_2 Time : 12:02 PIv! Clerks Initials: DAN File Name: CARL12 State Feet Title Fee............ 22.50 Encumbrance Fee.,_.... 0.00 Tag Transfer...,..-... 0.00 Registration.......... 0.00 Dup. Fee . ............ O.oo Increase Fee...._- 0.00 Repl,acemerit Fee....... 0.00 Tax-On $0.00.... 0.00 •. 0.00 -- 0.00 Tonal Slate Fee.._..,. 522 0 Check # ............... Service Fees Messenger Fee........_ 0.00 Temp Tag Fee.......... 0.00 Notary Fee............ 5.00 COPY/Fax Fee.......... 0.00 Document Fee.......... 10.00 Check or M.0_ Fee..... 0.00 •- 0.00 •- 0.00 Total Service Fee_,,.. 15.00 Service Fee Check ##.., Cash Grand Total,.......... 37.50 Total Due ............. 37 50 Amount Paid_....._.__. . 37 50 Paid in Full . No Refunds on Service or Notary fees. We are not rPSponeible for work the State fails to process. 03/23/2012 15:47 7177769413 DEWALTS APPRAISAL PAGE 05 Messenger Sex'vice Receipt SOLLENBERGERS MESSENGER SERV 29 WESTM.[NSTER DRIVE CARLISLR, PA 17013 717-249-8149 For: DARRELL WAYNE DEWALT 370 MEADOWS RD NFWVILLE, PA 17241 7~.7-776-6170 Title # or Date of firth: 29926337202 VIN or Driver's Nurnbez Tag Number or Eye Color - Year-Make or Soc. Sec.# 78 INT`L SW Transaction Title Only Odometer 0 Comments: MAIL This item will be Mailed to you. WAkIV1NG: Bureau regulation require that any item left in our office for GO days be returned to the Bureau of Motor Vehicles as unclaimed. I/We swear that I/we have applied for the above item(s) . Sworn & subscribed to before me on 03/23/12 Notary Seal Invoice #: 22514 Date: 03/23/12 Time: 12:03 PM Clerks Initials: DAN File Name: CARL12 Stale Fees Title Fee ............. 22.50 Encumbrance Fec....... 0.00 Tag Transfer.._....... 0.00 Registration.......... 0.00 Dup. Fee--------•..... 0.00 Increase Fee..,..,..., O.Oo Replacement Fee.....,. U.00 Tax-On $0.00..,, 0.00 -• 0.00 •- 0.00 Total State Fee.,..._. 22 50 Check # ............... . Service Fees Messenger Fee.._...... 0.00 Temp Tag Fee.......... 0.00 Notary Fee............ 5.00 Copy/Fax Fee.__,..., 0.00 Document Fee....,... 10 00 check or M.O. Fee...., . 0.00 -- 0.00 -- 0.00 15 00 . Cash Total Service Fee...., Service Fee Check #._, Grand Total.........., 37.50 Total Due ............. 37.50 Amount Paid.._.._.-. 37.50 Paid in Full No Refunds on Service or Notary fees. We are not responsible for wor}c the State fails to process. 03!23/2012 15:47 7177769413 DEWALTS APPRAISAL PAGE 06 Messenger Service Receipt SOLLENBERGERS MESSENGER SERV 29 WESTMINSTER DRIVE Invoice #: 22518 CARLISLE, PA 17013 717-249-8149 For: bARRELL WAYNE DEWALT 370 Mk~ADOWS RD NEWVZLLE, PA 17241 717-776-6170 Title # or Date of Birth: 07948510402 VIN or Driver's Number _Tag Number or Eye Color : Year-Make or Soc. Sec.# 49 WILLYS CP Transaction Title only Odometer 0 Comments: MAIL 'this item will be Mailed to you. WARNING: Bureau regulation require that any item left in our office for GO days be returned to the Bureau of Motor Vehicles as unclaimed. Date: 03/23/2 Time : ].2:05 pM Clerks Inztialg: DAN File Name: CARL12 State Fees Title i+ee .......... 22 5p ... Encumbrance Fee...._.. . 0.00 Tag Transfer.._.._.... 0.00 Registration,......... 0.00 Dup_ Fee .............. 0 00 Increase Fee.._.._.... . 0 00 Replace[nenL Fee.._.... . 0 00 Tax-On $0.00..._ . 0.00 •• 0.00 ~• O.OU Total State Fee.....-. 522 ~ Check #..---•-•-...... I'/We swear that T/we have applied .for the above item(s) . Sworn & suY~scribed to before me on 03/23/12. Notary Seal Service Fees Messenger Fee.._...... 0 00 Temp Tag Fee...,.... . 0 00 Notary Fee......_..... Copy/Fax Fee . 5.00 ..,....... Document Fee......... 0.00 10 00 Check or M.O. Fee..__. . 0.00 •- 0.00 •~ 0.00 Total Service Fee.._,. Service Fee Check # 15.00 ... Cash Grand TotaY._......... 37 50 Total bue...._.... Amount Paid . 37.50 .._........ Paid in Full 37.,0 No Refunds on Service or Notary fees_ We are not responsible for work L-he State fails to process. 03/23f2012 15:47 7177769413 DEWALTS APPRAISAL PAGE 07 Messenger Service Receipt SOLLENBERGERS MESSENGER SERV 2 9 WESTMINSTER DRIVE CARLISLE, PA 17013 717-249-8149 For: DARRELL WAYNE DEWALT 370 MEADOWS Rp NEWVILLE, PA 17241 717-776-6170 Title # or Date of Birth: 07929306003 VZN or Drivex's Number _Tac~ Number or Eye Color Year-Make or Soc. Sec.# 49 PLYM SDN Trdrzsaction Title Only Odometer 0 Comments: MAIL 't'his item will be Mailed to you. WARNING: Bureau regulation require that any item left in our office for 60 days be returned to the Bureau of Motor Vehicles a9 unclaimed. I/We swear that I/we have applied for the above item (s) . sworn ~ subscribed to before me on 03/23/12. Notary seal Clerks Initials: DAN File Name: CARL12 Date: 03/23/1 Time: 12:03 pM Invoice #: 22515 State Fees Title Fee ............. 22.50 Encumbrance Fee....... 0.00 Tag Transfer...._..._. 0 00 Reyzstration..,.--_.., . 0.00 Dup. Fee..-----~-----~ 0.00 Increase Fee._..._.... 0.00 Replacement Fee..,._.. O.UO Tax-On $0.00.._. 0.00 -- 0.00 •. 0.00 Total State Fee._.._.. 22.50 Check # ............... Service Fees Messenger Fee.._.._... 0.00 Temp Tag Fee.._.,_..._ 0.00 Notary ~"ee...._._..... 5 00 Copy/Fax Fee........._ . 0.00 Document Fee.....,,.-. 10 00 Check or M-O. Fee_,,.. . 0.00 .- o_oo .. o_oo Total Service Fee_..._ 15.00 Service Fee Check ##..- Cash Gx'and Total._........ 37 50 Total Due.. .._...,..- . 37.50 Amount Paid....._... ~~ 37 50 Paid in Full . No Refunds on Service or Notary fees. we ate not responsible for work the State fails to process. 03/23/2012 15:47 7177769413 DEWALTS APPRAISAL Messenger Service Receipt SOLLENBERGERS MESSENGER SERV 2y WESTMINSTER DRIVE C'A.RLISLE, PA 17013 717-249-8149 fior: DARR,ELL WAYNE DEWALT 3 ~% U MEADOWS RD NEWVILLE, PA 17241 717-776-6170 Title # or Date of Birth: 22021699402 VzN or Driv'er's Number Tag Number or Eye Color -Year-Make or Soc. Sec.# 70 CHEV CONY Transaction Title Only Odometer 0 Comments: MAIL This item will be Mailed to you_ WAkNING: Bureau regulation require that an,y item left in, our office for 60 days be returned to the Bureau of Motor' Vehicles as unclaimed. I/We swear that I/we have applied for the above i t em (s) . Swc~r-n & subscribed to before me on 03/23/12 Notary Seal PAGE 08 Invoice #: 22516 Date: 03/23/12 Time: 12:04 PM Clerks Initials: DAN File Name: CARL12 State Fees Title Fee ............. 22.50 Encumbrazace Fee-..._.. 0.00 Tag Tran.sfer._......,, O,Op Registration.._......, 0.00 Dup. Fee...------•---- 0.00 Increase Fee._.._..,.. 0.00 Replacement Fee....... 0.00 Tam-On $0.00-... 0.00 .. 0.00 •. 0.00 Total Stale Fee,...... 2 52 p Check #-----.•----.--- Service Fees Messenger Fee......,.. 0.00 Temp Tag Fee....._.... 0.00 Notary Fee.....,_.._.. 5.00 Copy/Fax Fee........._ 0.00 Document Fee.......... 10.00 Check or M.O. Fee_.... 0.00 .- 0.00 .• 0.00 Total Service Fee.._.. 15.00 Service Fee Check #.,, Cash Grand Total........... 37.50 Total Due ............. 37.50 Amount Paid.._.._.___. 37 50 Paid in Full , No Refunds on. Service ax' Notary fees- We are not .responsible for work the State fails to proces8_ 03/23/2012 15:47 7177769413 DEWALTS APPRAISAL Messenger Service Receipt SOLLENBERGERS MESSENGER SERV 29 WESTMINSTER DRIVE CARLIST,E, PA 17013 717-249-8149 For: DARRELL WAYIVE DEWALT 3 % 0 MEADOWS RD NEWVILLE, PA 17241 717-776-6170 Title # or Date of Birth: 1739872930J, VIN or Driver's Number Tag Number or Eye Color -Year-Make or Soc. Sec.# 65 HARLEY MC Transaction Title Only OdomPtPr p Comments: MAIL This item will be Mailed to you. WARNING: Bureau regulation require that any item left in our office for 60 days be returned to the Eureau of Motor vehicles as unclaimed. I/we swear that I/we have applied for the above item(s) _ Sworn & subscribed to before me on 03/23/12 Notary Seal PAGE 09 Invoice #= 22510 Date: 03/23/12 Time . 12:02 Pivl Clerks Initials: DAN File Name: CARL12 State Fees Title Fee,,,,,,,,,,,,, 22.50 Encumbrance Fee._,,_ 0.00 Tag Transfer....,,,.,. 0.00 Registration....,..... 0,00 Dup. Fee.....-~------- 0.00 Increase Fee.......... 0,00 Replacement Fee....... 0.00 Tax--On $0.00... , 0.00 -- 0.00 .. 0.00 Total Slate Fee....... 22.50 Check # ............... ServlCe Fees Messenger Fee......... 0.00 Temp Tag Fee.......... 0.00 Notary Fee_......,.,_. 5.00 Copy/Fax Fee..__.._.., 0.00 Document Fee.._....... 10.00 Check or M.O. Fee..... 0_UO •. 0.00 -• 0.00 Total Service Fee...., 15.00 service bee Check #... Cash Grand Tota1_....... 37.50 Total Due. .......... :37.50 Amount Paid...__...... 37 50 Paid in Full . No Refunds on Service or Notary fees. We are not responsible for work the State fails to process. COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 1 7 1 28-0601 RECEIVED FROM: DEWALT DUSTIN K 275 MEADOWS ROAD NEWVILLE, PA 17241 fold PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT REV-1162 EX(11-96( NO. CD 015815 ACN ASSESSMENT AMOUNT CONTROL NUMBER ESTATE INFORMATION: SSN: 2o8-2s-ss3~ FILE NUMBER: 2112-01 1 2 DECEDENT NAME: DEWALT GEORGE W JR DATE OF PAYMENT: 04/09/201 2 POSTMARK DATE: 04/09/201 2 couNTY: CUMBERLAND DATE OF DEATH: 01 / 1 6/ 201 2 REMARKS: RECEIPT TO ATTY SEAL CHECK#109 101 ~ $52,000.00 TOTAL AMOUNT PAID: INITIALS: HMW RECEIVED BY: S 52,000.00 GLENDA EARNER STRASBAUGH REGISTER OF WILLS TAXPAYER