HomeMy WebLinkAbout10-15-12 (2)EV~7 50~ ~ 1505610143
R Ex (01-10>
~iS OFFICIAL USE ONLY
PA Department of Revenue pennsylvania County Code Year File Number
Bureau of Individual Taxes DEPARTMENT OF REVENUE
PO 60X.280601 INHERITANCE TAX RETURN 2 1 12 0 0 1 9 8
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
186 36 6906 O1 14 2012 O1 31 1946
Decedent's Last Name Suffix Decedent's First Name MI
MAGEE GERALD C
(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
® 1. Original Return
^ 4. Limited Estate
^ g Decedent Died Testate
(Attach Copy of Will)
^ 9. Litigation Proceeds Received
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
^ 2. Supplemental Return
^ 4a. Future Interest Compromise
(date of death after 12-12-82)
^ 7 Decedent Maintained a Living Trust
(Attach Copy of Trust)
^ 10. Spousal Poverty Credit (date of death
between 12-31-91 and 1-1-95)
^ 3. Remainder Return (date of death
prior to 12-13-82)
^ 5. Federal Estate Tax Return Required
0
8. Total Number of Safe Deposit Boxes
^ 11. Election to tax under Sec. 9113(A)
(Attach Sch. O)
CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
HAMILTON C DAVIS 717 532 5713
First line of address
20 EAST BURD STREET
Second line of address
SUITE 6
City or Post Office
SHIPPENSBURG
State ZIP Code
PA 17257
_~~
t ~
/-{{\
.t. i
`',J
.:
j..-l
i-~~
Correspondent's a-mail address: h d a V I S @Z U l l i n g e r-Davis . C O m
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
SIGNAT E F PERSON RESPONSIBLE FOR FILING RETURN DA E
~ ~,~,, a, , ~, ,~ ~,~yy~ ~ ~1~~ ~~ TERRY A. CONYERS `a
ADDRESS // U / /
28 BYERS ROAD, SHIPPENSBURG, PA 17257
SIGNAT PREPARER OTHER THAN REPRESENTATIVE DATE
Hamilton C Davis ~ ° I t,/ / z
~_
ADDRESS
20 East Burd Street, Shippensburg, PA 17257
Side 1
REGISTER OF~11~S USE OA1~Y
`
~ t
'-
...
~.__ ~ -
_.A 1
~ ~
DATE FILED ~
L 15U5610143 1505610143 J ~ `~
~~
J
REV-1500 EX
Decedent's Name: M A G E E, GERALD C
Decedent's Social Security Number
186 36 6906
RECAPITULATION
124,000.00
1. Real Estate (Schedule A) .......................................................................................... 1.
2. Stocks and Bonds (Schedule B) ............................................................................... 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C).......... 3.
4. Mortgages & Notes Receivable (Schedule D) .......................................................... 4.
82,021.25
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ................ 5.
6,616.33
6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ............. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) ^ Separate Billing Requested ............. 7.
212, 637.58
g.
...............................................
Total Gross Assets (total Lines 1-7) ........................
$,
19,029.08
9. Funeral Expenses & Administrative Costs (Schedule H) ........................... .............. 9.
16,051.67
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) .................. .............. 10.
35,080.75
11. Total Deductions (total Lines 9 & 10) ........................................................ .............. 11.
177,556.83
12. Net Value of Estate (Line 8 minus Line 11) .............................................. ............... 12.
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made (Schedule J) ................................... .............. 13.
177,556.83
14. Net Value Subject to Tax (Line 12 minus Line 13) ................................... .............. 14.
TAX COMPUTATION -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 .00 15.
16. Amount of Line 14 taxable 1 7 0, 9 4 0 5 0 16.
at lineal rate X .045
17. Amount of Line 14 taxable
at sibling rate X ,12 17.
18. Amount of Line 14 taxable
6, 6 1 6 3 3
18
at collateral rate X .15 .
19. Tax Due ................................................................................................................... .. 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
1505610243
7,692.32
992.45
8,684.77
Side 2
1505610243 1505610243 J
REV-1500 EX Page 3
Decedent's Complete Address:
File Number 21 - 12 - 0 019 8
DECEDENT'S NAME
MAGEE, GERALD C
STREET ADDRESS
101 S. HIGH STREET
CITY
NEWBURG STATE
PA ZIP
17240
Tax Payments and Credits:
1. Tax Due (Page 2, Line 19)
2. Credits/Payments
A. Prior Payments
B. Discount
7,200.00
(1)
8,684.77
7,578.95
0.00
1,105.82
378.95
Total Credits (A + B) (2)
3. Interest (3)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. (4)
Check box on Page 2 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. (5)
Make Check Payable to: REGISTER OF WILLS, AGENT.
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred :.................................................................................. ^ ^x
b. retain the right to designate who shall use the property transferred or its income :.................................... ^ ^x
c. retain a reversionary interest; or .................................................................................................................. ^ ^x
d. receive the promise for life of either payments, benefits or care? .............................................................. ^ 0
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without
receiving adequate consideration? ....................................................................................................................... ^
3. Did decedent own an "in trust for" or payable 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? ...................................................................................................................... ^ ^x
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994 and before Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving
spouse is 3 percent [72 P.S. §9116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent
[72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of
assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
• The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an
adoptive parent, or a stepparent of the child is 0 percent [72 P.S. §9116 (a) (1.2)].
• The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5 percent, except as noted in
72 P.S. §9116 1.2) [72 P.S. §9116 (a) (1)].
• The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent (72 P.S. §9116 (a) (1.3)1. A
sibling is defined under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
;~ SCHEDULE A
REAL ESTATE
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF MAGEE, GERALD C 21 - 12 - 00198
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 wilting seller, neither being compelled to buy or sell, both having
reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on
schedule F.
Attach a copy of the settlement sheet if the property has been sold.
Include a copy of the deed showing decedent's interest if owned as tenant in common.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 101 SOUTH HIGH STREET, NEWBURG, PA (SEE ATTACHED APPRAISAL) 124,000.00
TOTAL (Also enter on Line 1, Recapitulation) ~ 124,000.00
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
COMMONWEALTH OF PENNSYLVANIA PERSONAL PROPERTY
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF MAGEE, GERALD C 21 - 12 - 00198
Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of
survivorship must be disclosed on schedule F.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 M&T CHECKING ACCOUNT NO. 67380913 (SEE ATTACHED VALUATION) 54,188.58
2 2005 HD ELECTRA GLIDE CLASSIC HARLEY MOTORCYCLE 11,800.00
3 M&T INTEREST 151.31
4 SIRIUS RADIO REFUND 176.93
5 MEMBERS FIRST REFUND 49.35
6 INTERNAL REVENUE SERVICE CENTER - 2011 TAX REFUND 1,560.00
7 SOCIAL SECUIRTY REFUND FOR INSURANCE 1,139.00
8 STATE FARM PREMIUM REFUND 195.44
9 AUCTION PROCEEDS FOR PERSONAL PROPERTY 11,001.70
10 PSERS -RETIREMENT 1,758.94
TOTAL (Also enter on Line 5, Recapitulation) ~ 82,021.25
' ~ SCHEDULE F
COMMONWEALTH OF PENNSYLVANIA JOINTLY-OWNED PROPERTY
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF GERALD C FILE 21MB~R 00198
MAGEE,
If an asset was made joint within one year of the decedent's date of death, it must be reported on schedule G.
SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIONSHIP TO DECEDENT
MARY BLANK 12540 MONGOL HILL ROAD Friend
q SHIPPENSBURG, PA 17257
InINTI Y nWNFf~ PRnPFRTY•
ITEM
NUMBER LETTER
FOR JOINT
TENANT DATE
MADE
JOINT C~F~SCRIPT.IOtN C~F PRO~ERTY
Include name o Inanclal Ins Itu Ion an bank account numbe
or similar identifying number. Attach deed for jointly-held real
estate.
DATE OF DEATH
VALUE OF ASSET % OF
DECD'S
INTEREST DATE OF DEATH
VALUE OF
DECEDENT'S INTEREST
A PSECU SAVINGS ACCOUNT -OPENED 6,616.33 10,000 6,616.33
WITHIN ONE YEAR OF DEATH
TOTAL (Also enter on line 6, Recapitulation) 6,616.33
SCHEDULE H
S
' FUNERAL E)CCPENSES &
COMMONWEALTH OF PENNSYLVANIA 'cT~/~ ~-/'~~+
INHERITANCE TAX RETURN ~INh7 1 f~F1~E ~/V~7~
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF MAGEE, GERALD C 21 - 12 - 00198
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER FUNERAL EXPENSES: DESCRIPTION AMOUNT
A. 1 FOLGELSANGER - BRICKER FUNERAL HOME 10,982.83
B. ADMINISTRATIVE COSTS:
~. Personal Representative's Commissions
Name of Personal Representative(s)
Street Address
City State Zip
Year(s) Commission paid
2. Attorney's Fees HAMILTON C. DAVIS, ESQUIRE 7,500.00
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent
4. Probate Fees
5. I Accountant's Fees
6. ~ Tax Return Preparer's Fees
7. Other Administrative Costs
1 DIVERSIFIED APPRAISAL SERVICE 350.00
TOTAL (Also enter on line 9, Recapitulation) 19,029.08
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
Schedule H
Funeral Expenses &
Adminisfia~ive Cosfs continued
FILE NUMBER
ESTATE OF MAGEE, GERALD C 21 - 12 - 00198
2 I THE NEWS CHRONICLE - LEGAL ADVERTISING
121.25
3 CUMBERLAND COUNTY LEGAL JOURNAL -LEGAL ADVERTISING I 75.00
Page 2 of Schedule H
SCHEDULEI
DEBTS OF DECEDENT, MORTGAGE
COMMONWEALTH OF PENNSYLVANIA LIABILITIES, & LIENS
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF MAGEE, GERALD C 21 - 12 - 00198
Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses.
ITEM
NUMBER DESCRIPTION AMOUNT
1 PENELEC 508.63
2 NEWVILLE JOINT AUTHORITY 192.00
3 AT&T 142.89
4 CENTURY LINK 51.07
5 FRANKLIN COUNTY FOOT AND ANKLE 30.00
6 SUMMIT PHYSCIAN SERVICES 22.00
7 MEMBERS FIRST PAYOFF LOAN FOR AUTOMOBILE 7,395.03
8 CHAMBERSBURG IMAGING ASSOCIATION 222.00
9 DISH NETWORK 89.40
10 BOTTOM LINE BOOKS 42.95
11 AEGIS INSURANCE 345.00
12 WEST FIELD INSURANCE 55.00
13 RICHARD HOCKENBERRY, TAX COLLECTOR - 2012 SCHOOL TAX 1,642.79
14 WSEMS -AMBULANCE 1,642.79
15 AEGIS SECURITY 3,145.80
16 RICHARD HOCKENBERRY, TAX COLLECTOR - 2012 COUNTY AND TOWNSHIP TAX 524.32
TOTAL (Also enter on Line 10, Recapitulation) I 16,051.67
REV-1513 EX+ (11-08)
y SCHEDULE J
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
MAGEE, GERALD C 21 - 12 - 00198
RELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE
NUMBER NAME AND ADDRESS OF PERSON(S) DECEDENT (Words) ($$$)
RECEIVING PROPERTY Do Not List Trustee(s)
I, TAXABLE DISTRIBUTIONS [include outright spousal
distributions, and transfers
under Sec. 9116 (a) (1.2)]
1 TERRY A. CONYERS Daughter RESIDUE 170,940.5C
28 BYERS ROAD
SHIPPENSBURG, PA 17257
2 MARY BLANK Friend PSECU ACCOUNT 6,616.3
12540 MONGUL HILL ROAD (JTWROS
SHIPPENSBURG, PA 17257
i
Enter dollar amounts for distributions shown above on lines 1 5 through 18 on Rev 1500 cover sheet, as appropriate.
II NON-TAXABLE DISTRIBUTIONS:
. A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET 0.00
APPRAISAL REPORT
101 SOUTH HIGH STREET
NEWBURG, PENNSYLVANIA
PREPARED FOR
THE ESTATE OF GERALD 'C. MAGEE
BY
LARRY E. FOOTS
DIVERSIFIED APPRAISAL SERVICES
35 EAST HIGH STREET,. SU1TE 101
CARLISLE, PENNSYLVANIA
17013-3052
(717) 249-275 S
COPY.
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
LOCATION: 101 S. High Street..
Newburg, Pennsylvania
TAX PARCEL NUMBER: 24-21-0390-129
IMPROVEMENTS: One-story detached single-family dwelling.
PROPERTY RIGHTS: Fee simple interest.
OWNERSHIP HISTORY: The subject property is owned by Gerald C. Magee. The
property last trarLSferred on December 19, 1997 for a
reported consideration of $1.00 and ownership conveyed
on Deed Book 170, Page 560.
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: The estate of Gerald C. Magee.
INTENDED USER: The estate of Gerald C. Magee.
OBJECTIVE: To estimate the m~.rket value of the subject property as
unencumbered.
EFFECTIVE DATE: January 14, 2012.
INSPECTION DATE: January 14, 2012.
HIGHEST AND BEST USE: Continued use as asngle-family residence.
COST APPROACH: N.A.
SALES APPROACH: $124,000
INCOME APPROACH: N.A.
FINAL VALUE CONCLUSION: $124,000
2
THE VALUATION PROCESS
The valuation process is defined in The Appraisul o f'Reul 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:
l . Identif cation of the client, the intended use, and the intended users of the appraisal
report.
2. The purpose of the appraisal, including a definitonlof 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 assignix,ent." 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.
llevelopment 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 detdrmine 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 Finai 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.
4
APPRAISAL CERT1r1CAT~ON
I hereby certify that upon application for valuation by:
THE ESTATE OF GERALD C. MAGEE
the undersigned personally inspected the following described property:
All that certain piece or parcel of land, with the irmprovements thereon erected, situate
in the Borough of Newburg, Cumberland County, Perui$ylvania, bounded and described as
follows:
Beginning at a railroad spike set in the centerline o~ Pennsylvania Traffic Route 696,
also known as Water Street near the intersection of High Stireet; thence North 22 degrees 34
minutes 58 seconds East, 30.66 feet to an iron pin set in'the edge of the existing right-of--way
line of Pennsylvania Traffic Route 696; thence North 22 degrees 34 minutes 58 seconds East
101.12 feet to an iron pin set in the edge of intersection of Curtis Avenue and High Street;
thence along a curve to the right having a radius of 25 feet and a chord bearing of North 80
degrees 07 minutes 40 seconds East, an arc distance of 25.80 feet to an iron pin set in edge of
Curtis Avenue; thence along the edge of Curtis Avenue, South 70 degrees 18 minutes 23
seconds East 78.46 feet to an iron pin at common corner off' Lots No. 1 and 2; thence along
common boundary of Lots No. 1 and 2, South 23 degrees 28 minutes 57 seconds West 168.67
feet to an iron pin set in line of lands now or formerly of Alfred R. Ocker; thence along lands
now or formerly of Alfred R. Ocker, South 64 degrees 57 minutes 42 seconds West, 6.68 feet
to an existing iron pin; thence South 65 degrees 50 minutes 12 seconds West 18.54 feet to an
existing nail set in the center line of Traffic Route 696; thence along center line of Traffic
Route 696, North 32 degrees 02 minutes 30 seconds West,..., 96.94 feet to the railroad spike, the
point and place of beginning.
Containing 17,317 square feet, less right-of--way area of 2,688 square feet, leaving a net
lot area of 14.629 square feet.
To the best of my knowledge and belief the sta~ter~ents 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 14,
2012 is:
ONE HUNDRED TWENTY-FOUR THOUSAND DOLLARS
$124,000
The property was appraised as a whole, subject to the contingent and limiting conditions
5
outlined herein.
.....--
Larry E. Foote
Pa. Certified General Appraiser
GA-OQ0014-L
INTENDED USE OF THE Al'pRA.ISAL
The intended use of this appraisal is to estimate the Market Value of the subject
property as of January 14, 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 soldd
unaffected by special or creative financing or sales concessions grante
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 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
OWNERSI~IP HISTORY
The subject property is owned by Gerald C. Magee. The property was purchased on
December 19, 1997 for a reported consideration of $1.00' and ownership transferred on Deed
Book 170, Page 560. .
ESTIMATED MARKETING TIME
The reasonable marketing time is an estimate of the amount of time that it would take to
sell a property at the estimated market value during the period of time immediately after the
effective date of the appraisal assignment. It is estimated that if the subject property were
offered for sale at the indicated Market Value, a reasonable marketing time would be six to
twelve months. This estimate is based upon quarterly sales figures published by Central Penn
Multi List, Inc.
ECONOMIC TRENLlS
Historically, property values for similar properties have steadily increased, with
vacancy rates remaining stable. I~owever, the recent lag in the economy has resulted in a
leveling of appreciation rates and longer marketing Mmes. Financing is readily available to
qualified purchasers at reasonable rates and terms.
EXPOSURIJ TIMIC
The length of time the property being appraised would have been offered on the market
prior to the hypothetical consummation of a sale at the market value on the effective date of the
appraisal. Exposure time is presumed to precede the effective date of the appraisal. The
reasonable exposure period is a function of price, time and use. It is not an isolated opinion of
time alone. Exposure time is different for various types'... of property and under various market
conditions. It is a retrospective opinion based on an analysis of past events, assuming a
competitive and open market. It assumes not only adequatee, sufficient and reasonable time but
adequate, sufficient and a reasonable marketing effort. Exposure time and conclusion of value
are therefore interrelated. Based upon the information presented in this report, a reasonable
exposure time for the subject property is estimated to be six to twelve months.
8
S1TE DATA
ADDRESS:
BOROUGH:
COUNTY:
STATE:
LOT SIZE:
SEWERS:
WATER:
ELECTRICITY:
LANDSCAPING:
101 South High Street
Newburg
Cumberland
Pennsylvania
.40 acre.
Public utility.
On-site well.
PenElec
Typical for the area, with a sodded lawn, trees and shrubs.
DETRIMENTAL 1NFLU~NCES
None. Pride of ownership is evident throughout the neighborhood.
DESCRIPTION OF IMPROVEMENTS
GENERAL DESCRIPTION: One-story detached single-family dwelling containing approxi-
mately 1,382 square feet of gross living area above grade with an attached one-car garage.
CONDITION: Exterior: Average
Interior: Fair to average.
ROOMS: First Floor: Living room, kitchen with dining area, two bedrooms and
a full bathroom.
Basement: Full, with concrete Boor.
EXTERIOR: Foundation: Concrete block.
Walls: Brick
Sash: Vinyl-clad, double-glazed.
Gutters: Aluminum, painted..!.
Roof: Gable, with shingles.
9
INTERIOR, PRINCIPAL ROOMS: Flooring: Carpet
Walls: Plaster
Ceilings: Plaster
Trim: Wood; natural finish.
KITCHEN: Cabinets: Wood, natural finish.
Counters: Laminate
Walls: Plaster, painted.
Flooring: Vinyl
Sink: Double-bowl, stainless steel.
BATHROOM: Flooring: Vinyl
Walls: Plaster
Bathtub: Built-in, with shower.
Lavatory: Double-bowl vanity.
Water closet: Two-piece.
Medicine cabinet: Wall-mounted.
CONSTRUCTION: Joists: Wood
Beams: Wood
Columns: Wood
Plumbing: Copper and plastic.
HEATING: Heat pump.
COOLING: Central air conditioning.
HOT WATER: Electric, 80-gallon.
ELECTRIC: Circuit breaker system, 200-ampere.
OTHER: There is awood-burning stove on a brick hearth in the living room.
Attached to the front of the dwelling is a small concrete porch and attached to the rear of the
dwelling is a covered concrete patio. There is also a portable storage building located on the
site.
GENERAL CONDITION: All improvements are considered to be in fair to average condition
on the interior and average condition on the exterior, with the interior in need of painting. The
mechanical systems appear to be adequate and functioning properly.
10
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 i'ts 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.
11
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:
7 Maple Avenue, Walnut Bottom.
August 4, 2011.
$127,000
1,120 square feet.
$113.39 per square foot.
SALE NO. 2:
Location: 457 Bloserville Road, Newville
Date of Sale: June 17, 2010
Sale Price: $119,000
Size: 1,008 square feet.
Unit Price: $118.06 per square foot.
SALE NO. 3
Location:
Date of Sale:
Sale Price:
Size:
Unit Price:
2271 Ritner Highway, Carlisle
October 17, 2011.
$135,000
1,322 square feet.
$102.12 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;'af 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 $124,000.
12
SALES COMPARISON ANALYSIS
ITEM SUBJECT COMPARABLE # 1 COMPARABLE #2 COMPARABLE #3
Address 101 S. t-tigh Street
Newburg 7 Maple Avenue
Walnut Bottom 457 Bloserville Road
Newville 2271 Ritner I-lighway
Carlisle
Proximity to Subject 12.15 miles 14.90 miles f 7.62 miles
Sale Price N.A. $127,000 ~ 1 19,000 $135,000
Price / Sq. Ft. GLA N.A. $113.39 $118.06 $102.12
,
Data Source Inspection Courthouse & Central Penn MLS Courthouse & Central Penn MLS Courthouse & Central Penn MLS
ADJUSTMENTS DESCRIPTION DESCRIPTION $ Adjust. DESCRIPTION $ Adjust. DESCRIPTION $ Adjust.
Sales or Financing
Concessions '~ $3,8]0 buyer's cl.
costs pd. by seller.
-3,810
None
None
Date of Sale /Time As of 1-14-12 8-4-I 1 6-17-10 10-17-1 I
Location Average Similar Similar Similar
Site /View .40 acre .26 acre +2,000 .58 acre -2,000 .69 acre -3,000
Design and Appeal One-story detached Similar Si-nilar Similar
Construction Brick Alum. siding w/brick +2,000 Aluminum siding +3,000 Vinyl siding +3,000
Age 32 years 54 years 3 I years 58 years
Condition Fair to average Superior -IU,000 Superior -IO,000 Superior -10,000
Above Grade Tot. Bed. Bath Tot. Bed. Batli ~ Tot. Bed. Bath 'l'ot. Bed. Bath
Room Count
4
2
I
5
3
I
-2,000
6
3
I
-4,000
6
3
I
-4,000
Gross Living Area 1,382 square feet 1,120 square feet +7,900 1,008 square feet +I 1,200 1,322 square feet
Basement &Finished
Rooms Below Grade
Full basement
Similar
Si-nilar
Similar
Functional Utili Avera a Similar Similar Similar
Heatin / Cooiin Heat um w/cen. air Oil FHA w/cen. air Bsbd. elec. w/cen. air Bsbd. Electric +2,000
Gara e / Ca ort One-car ara e Two-car arage -5 000 None +5,000 One-car ara e
Porches, Patios
Pools, etc. Porch, covered patio,
stora a buildin
Porch
+1,000
Porch, stora a bid
+500 Porch, pavilio~t,
stora a bldg.
Special Energy
Efficient Items Typical for the
re ion.
Similar
Similar
Similar
Fire laces Wood-burnin stove Note +1,000 None +1,000 None +1,000
Other (e.g. kitchen
equip., remodeling)
Net Adj. total
indicated Value
of Subject
Built-ins.
Similar
-6,910
120,090
Similar
+4,700
123,700
Similar
-l 1,000
124,000
FINAL INDICATED VALUE OF SUBJECT PROPERTY: $124,000
13
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 $124,000
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 are primarily utilized for income producing purposes. Purchasers of income producing
properties axe 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 14, 2012, is:
ONE HUNDRED TWENTY-FOUR THOUSAND DOLLARS
$124,000
14
UNDERLYING ASSUMPTIONS ANll L1MITINC
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.
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.
15
CERTIFICATE OF APPRAISAL
I certify that, to the best of my knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analysis, 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 or 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 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. My analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the Uniform Standards of professional Appraisal Practice.
8. I have made a personal inspection of the property that is the subject of this report.
9. No one provided significant real property appraisal assistance to the person sign-
ing this certification.
Larry E. Foote
Pa. Certified General Appraiser
GA-000014-L
16
PRIVACY NOTICI/
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 oi• 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 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.
17
LARRY E. FOOTS
REAL ESTATE APPRAISER
EXPERIENCE:
1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa.
Principal Broker, LaRue Development Company, Carl isle, Pa.
1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa.
1972-1976: Realtor Associate, Jack Gaughen 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 School, 1965.
Certificate, Pennsylvania Realtors Institute, GRI 1, GRl I1, GRI 111.
Certificate, Realtors National Marketing lnstitute, C1 101, CI 102, Cl 103, CI 104,
CI 105.
Standards of Professional Practice, American lnstitute of Real Estate Appraisers.
Real Estate Appraisal Principles, American lnstitute of Real Estate Appraisers.
Residential Valuation, American lnstitute of Real Estate Appraisers.
Appraisal Procedures, Appraisal lnstitute.
Principles of Income Property Appraising, Appraisal Institute.
Case Studies in Real Estate Valuation, Appraisa{ [nstitute.
Report Writing and Valuation Analysis, Appraisal lnstitute.
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 tl~e 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 lnstitute.
18
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 ls` 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, lncoi•porated
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 Pe~insylvania 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
19
PHOTOGRAPHS OF THE SUBJECT IMPROVEMENTS
20
STREET SCENES AT THE SUBJECT PROPERTY
21
22
COMPARABLE SALE NO. Z
COMPARABLE SALE NO. 2
COMPARABLE SALE NO. 3
~ 20D m
6DD ft
'~,,~.
t~~
~'
~~ .
2
orf~~~ ~~ ~ ~<P,~~ Sti
~~~~
~~a
ro
co
r
~,,y~,h~k44~ ~~
~641~
~C'W~gf~i
~?
~~~
~~
'~~`''~~ Subject
~.~
'~'~'
a~~~
~~°r~
~s
~~~9
'~',q.
maagc~~st
02012 MapQuest Pa~tian~ C~Z012 Int~~map! Ni~Y"CEQ
SUBJECT PROPERTY LOCATION MAP
23
~ M&T Banlc ~ ~. ~ ; _
_,
.::ACCOUNT NO. ACCOUNT TYPE STATEMENT:PERIOD PAGE
67380913 M8T SELECT WITH INTEREST DEC.07-JAN.06,2012 1 OF 3
00 0 06822M NM I17
GERALD C MAGEE
PO BOX 402
NEWBURG PA 17240-0402
14128
INTEREST EARNED FOR STATEMENT PERIOD 0.44
INTEREST PAID YEAR TO DATE 0.44
Af`f`n11AIT CIIMMADV
KING STREET OFFICE
BEGINNING
BALANCE
DEPOSTTS 8
OTHER ADDITIONS - - - - -
CHECKS PAID
OTHER
SUBTRACTIONS
CURRENT
INTEREST PD
ENDING
$ALANCE
N0. AMOUNT N0. AMOUNT N0. AMOUNT
55,583.09 2 4,227.21 6 3,506.54 11 2,115.62 0.44 54,188.58
wrrntl\IT Af~TT\/TTV
POSTING
DATE _
TRANSACTION DESCRIPTION DEPOSITS,INTEREST
$ OTHER ADDITIONS CHECKS:B OTHER:
SUBTRACTIONS DAILY
BALANCE
12-07-11 BEGINNING BALANCE 555,583.09
12-07-11 M&T ATM CASH WITHDRAWAL ON 12/07 400.00
KING STREET,35 EAST KING STREET,SHIPPENSBURG,PA 55,183.09
12-08-11 PENELEC BILL PYMT 000000000004077 142.16 55,040.93
12-09-11 CHECK NUMBER 4078 2,643.64 52,397.29
12-13-11 CHECK NUMBER 4081 505.18 51,892.11
12-14-11 CHECK NUMBER 4080 33.85 51,858.26
12-15-11 RITE AID STORE #11023 SHIPPENSBURG 44.51
12-15-11 CenturyLink BILL PYMT 00000.0000004079 74.42 51,739.33
12-19-11 TARGET 00022418CHAMBERSBURG 264.99
12-19-11 CHECK NUMBER 4082 200.00 51,274.34
12-20-11 PSECU ACH ORIGIN ~ 100.00 51.,174.34
12-21-11 CHECK NUMBER 4084 64.44 51,109.90
12-23-11 RITE AID STORE #11023 SHIPPENSBURG 19.41
12-23-11 ECHOSTAR COMMUNI DISHCKPYMT 000000000004083 204.55 50,885.94
12-27-11 M8T ATM CASH WITHDRAWAL ON 12/23 400.00
KING STREET,35 EAST KING STREET,SHIPPENSBURG,PA
12-27-11 CHECK NUMBER 4085 59.43 50.,426.51
12-28-11 US TREASURY 303 XXSOC SEC 1,083.70 ~ 51,510.21
12-30-11 PA TREASURY DEPT ANNUITANT 3,143.51
12-30-11 RITE AID STORE #11023 SHIPPENSBURG 65.58 54,588.14
01-03-12 M8T ATM CASH WITHDRAWAL ON O1/Ol 400.00
KING STREET,35 EAST KING STREET,SHIPPENSBURG,PA 54,188.14
01-06-12 INTEREST PAYMENT 0.44 54,188.58
ENDING BALANCE 554,188.58
CHECKS PAID SUMMARY
4078 12-09-11 2,643.64 4080* 12-14-11 33.85 4081 12-13-11 505.18
4082 12-19-11 200.00 4084* 12-21-11 64.44 4085 12-27-11 59.43
,.
M
Pennsylvania State Employees Credit Union
P.0. Box 61013 {111) 234-8484 {Hamsburg)
Harrisburg, PA 1710b-7Q13 {800) 237-1328 {Natiorn~ride)
website - http://www.psecu.cam
036974 c,
TRANSFER HIGH-INTEREST RATE
BALANCES TO YOUR PSECU VISA® TO
SAVE. GET A LOW RATE AND PAY NO
PSECU BALANCE TRANSFER FEE.
GO TO PSECUaHOME®, "MOVE MONEY."
__
.............................. ...
JOINT OWNER ~ ~~BEt~
0186XXXXXX
MARY K BLANK ~! 3TATEMENTFEAIC?D
~Ihoiri< 'fa
GERALD C MAGEE 010112013112
PAGE 3
• FINANCE £~~ 013` >'fAAI ~
,~ ~ '' '#~iAltSl~l~h'1C3t'! tCRlf~'~F4?1~ ~~~ CHARCaE , ~#~#AF~ ? A~?~kT EAIrA-J~'.E
__._~._..... _ ._.~...._.._._..__.~.._~.._._..._~~._._.._...._.._...._.____....__.___._....~ ~_..._.. -, -______-- .y..__.._..~......_.._ .._ _._...._._...._ .w~____,_ _._.__._ _._.~..__._..._...
Ol/Ol ID Ol REGULAR SHARES BEGINNING BALANCE 6616.33
01/20 PAYMENT: DIRECT DEPOSIT 100.00 6716.33
TYPE: ACH ORIGIN ID: 9231381116
.
0I~~1 .
::
i'AYMEt~T. ir#~~~D.ENI1 Q .~~Q~
;
`~ , 41 ...
7:17,. 74
A~N~1AL; ~'~fi~~~~~:/~G~ .!~~~1~~i iARt+t~~ 0 , ~,~% E~~M.. 01~`OI~~~ .
`1+HRpU'G!~ 01/~~fX~
!':....... ;... ~A~tri~ ...~~ ..Au.~~A:....~-A.~ ~.1f' .#~~ 1~~~~ . QF:.. ~.,.~ ~5.~ ..:D 4 ...... ......
..
....
01/31 ENDING BALANCE 6717.74
DIVIDEND YTD: YEAR TO DATE 1.41
Dls't11 ~D 0.4 M~NEY#~AMDI~R ~E~~NN~~IG BAL,AN~E .: . ; .... ~ ..:: U. QA .
O1~`,~~ i;N~I~N~ ~ALAN~~ ...
.. .:. .
:
0 . 0 0
::
,
THE BALANCE USED TO COMPUTE INTEREST IS THE UNPAID BALANCE EACH DAY AFTER PAYMENTS
~:.:
. <; .. ,
..
AMD ~CI~E11~"~S. •TO'~ THA"C B~1`t„~l~~~ HAVE :$E~N SUHTRAC'TED ANA• ';A~tY ADDxTIQhiS TU TNE• ~AI.AN~E
HA1f~ SEEN MADE ,
2012 TOTALS YEAR-TO-DATE