HomeMy WebLinkAbout03-19-13
Elyse E. Rogers, Esquire :x
Identification No. 41274 p m j
Todd F. Truntz, Esquire _._3
Identification No. 83302 rn ,r.
Saidis, Sullivan & Rogers r" r rt
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635 N. 121h Street, Suite 400 3a co
77 Lemoyne, Pa, 17043
(717)-612-5800
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IN RE: IN THE COURT OF COMMON PLEAS
GENEVA C. MAGONEL, CUMBERLAND COUNTY, PENNSYLVANIA
Deceased
NO. 2012-00420
ORPHAN'S COURT DIVISION
PETITION FOR LEAVE TO PURCHASE REAL PROPERTY
PURSUANT TO 20 Pa. C.S.A. § 3356
AND NOW comes Margaret R. Malehorn as residuary beneficiary of the
Estate of Geneva C. Magonel, deceased (herein the "Petitioner"), by and through her
attorneys, the law firm of Saidis, Sullivan and Rogers, to bring the following
Petition by Executor for Leave to Purchase Real Property Pursuant to 20 Pa.C.S.A.
§ 3356, and in support thereof, avers the following:
1. Geneva C. Magonel (the "Decedent") died testate on March 25, 2012, a
resident of Cumberland County, Pennsylvania.
2. The Petitioner is the niece of the Decedent, and is also the Personal
Representative of the Decedent's Estate (the "Estate"), having been appointed
Executrix on April 9, 2012 by Letters Testamentary granted to her by the Register
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of Wills of Cumberland County. A true and correct copy of the Certificate of Grant
of Letters issued by the Register of Wills of Cumberland County, with a copy of the
Last Will and Testament of the Decedent attached thereto, is attached hereto as
Exhibit "A."
3. The Petitioner desires to purchase real estate currently owned by the
Estate, known and numbered as 1829 Bridge Street, New Cumberland,
Cumberland County, Pennsylvania, being more fully described on Exhibit "B" (the
"Property"). The Property was not specifically devised by the Decedent, and falls
into the residue of the Estate.
4. The Petitioner is a fifty (50%) percent beneficiary of the residuary
Estate. The calculation of the Petitioner's share employs a "hotchpot" calculation to
take into account a lifetime gift of approximately One Million ($1,000,000) Dollars
from the Decedent to the Petitioner.
5. The following charitable organizations are all of the remaining
residuary beneficiaries of the Estate:
a. The Marysville Church of God, of Marysville, Pennsylvania, as
to a ten (10%) percent residuary interest;
b. The Bethany United Methodist Church, of Marysville,
Pennsylvania, as to a ten (10%) percent residuary interest;
C. Community United Methodist Church, of New Cumberland,
Pennsylvania, as to a ten (10%) percent residuary interest;
d. Hill United Methodist Church, of Duncannon, Pennsylvania, as
to a ten (10%) percent residuary interest; and
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e. The New Cumberland Public Library, of New Cumberland,
Pennsylvania, as to a ten (10%) percent residuary interest.
6. Petitioner wishes to purchase the Property from the Estate for One
Hundred Sixty Nine Thousand Two Hundred and 00/100 ($169,200.00) Dollars,
which is the current appraised value of One Hundred Eighty Thousand and 00/100
($180,000.00) Dollars of the Property, less six (6%) percent to account for savings of
realtor's commissions.
7. The Property was initially appraised at One Hundred Thirty Five
Thousand and 00/100 ($135,000.00) Dollars as of December 20, 2011, which the
Petitioner believes represented the fair market value of the Property at the time of
the Decedent's death. A true and correct copy of the December 20, 2011 appraisal is
attached hereto as Exhibit "C."
8. Since the Decedent's death, funds in the amount of Thirty Eight
Thousand Five Hundred Four and 99/100 ($38,504.99) Dollars have been expended
on the Property by the Estate, representing materials and labor contributing to
significant improvements made to the Property.
9. Following the improvements funded by the Estate, the current fair
market value of the Property has increased to the amount of One Hundred Eighty
Thousand and 00/100 ($180,000.00) Dollars, as supported by the appraisal
completed on November 26, 2012 by Reynold R. Woof, Jr., a Pennsylvania Certified
General Real Estate Appraiser. A true and correct copy of the November 26, 2012
appraisal is attached hereto as Exhibit "D."
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10. The Petitioner desires to apply her interest in the undistributed
portion of the residue of the Estate to the purchase price as an advance distribution,
which residual interest is sufficient to fund the purchase price in its entirety.
11. To the Petitioner's knowledge and belief, there are no mortgages or
other known liens of record, delinquent taxes, water, or sewer rents, or judgements
entered against the Property.
12. The Property is assessed for tax purposes at One Hundred Ninety Five
Thousand Nine Hundred ($195,900.00) Dollars, which the Petitioner contends does
not reflect the true fair market value of the Property in light of the appraisal
attached at Exhibit "D."
13. The Estate is sufficient to discharge all of its just debts, administrative
expenses, and taxes.
14. Notice of this Petition has been provided to the residuary beneficiaries
set forth in Paragraph 5 hereof in accordance with Pennsylvania Orphans' Court
Rule 3.5.
15. Notice of this Petition has been provided to the Attorney General of the
Commonwealth of Pennsylvania, in accordance with Pennsylvania Orphans' Court
Rule 5.5, a true and correct copy of which is attached as Exhibit "E."
WHEREFORE, Petitioner respectfully requests that this Honorable Court
issue an Order granting leave to Petitioner to purchase the Property for a purchase
price in the amount of One Hundred Sixty Nine Thousand Two Hundred and 00/100
($169,200.00) Dollars to be considered an advance distribution, and to permit the
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Personal Representative of the Estate to execute and deliver a deed to Property to
Petitioner upon acknowledgment of such advance distribution against Petitioner's
remaining residuary interest in the records of the Estate.
Respectfully submitted,
SAIDIS, SULLIVAN & ROGERS
Date: March 18, 2013 BY:
Elyse E. Rogers, Esquire
Identification No. 41274
Todd F. Truntz, Esquire
Identification No. 83302
635 N. 12'h Street, Suite 400
Lemoyne, Pa, 17043
(717)-612-5800
Attorneys for Petitioner
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CERTIFICATE OF SERVICE
I, Todd F. Truntz, Esquire, an employee of Saidis, Sullivan & Rogers, PC,
hereby certify that I this day served a copy of the foregoing PETITION FOR LEAVE
TO PURCHASE REAL PROPERTY upon the person(s) indicated below by First
Class U.S. Mail, postage prepaid at Camp Hill, Pennsylvania, and addressed as
follows:
Marysville Church of God Bethany United Methodist Church
106 Maple Avenue 400 Lansvale Street
Marysville, PA 17053 Marysville, PA 17053
Community United Methodist Church Hill United Methodist Church
16th and Bridge Streets c/o Charnette Wilt
New Cumberland, PA 17070 220 Notch Road
Duncannon, PA 17020
The New Cumberland Public Library Heather Vance-Rittman
c/o Andrew C. Sheely, Esquire Senior Deputy Attorney General
127 South Market Street Office of the Attorney General
P.O. Box 95 Charitable Trusts and
Mechanicsburg, PA 17055 Organizations Section
14th Floor, Strawberry Square
Harrisburg, PA 17120
SAIDIS, SULLIVAN & ROGERS
DATED: March 18, 2013 BY:
Todd F. Truntz, Esquire
Identification No. 83302
635 N. 12th Street, Suite 400
Lemoyne, Pa, 17043
(717)-612-5800
Attorneys for Petitioner
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VERIFICATION
I, Margaret R. Malehorn, declare that I am the Petitioner herein and hereby verify
that the statements contained in the foregoing Petition are true and correct to the best of
my knowledge or information and belief. I understand that false statements herein are
made subject to the penalties of 18 Pa.C.S.A. § 4904, relating to unsworn falsification to
authorities.
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Dated: DeC(,mL(- l7 ZO(2 ~v 1
Margaret . Malehorn
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EXHIBIT A
REGISTER OF WILLS CERTIFICATE OF
CUMBERLAND COUNTY GRANT OF LETTERS
PENNSYLVANIA
No. 2012- 00420 PA No. 21- 7 2- 0420
Estate Of: GENEVA C MAGONEL
(First, Middle, Last)
Late Of: NEW CUMBERLAND BOROUGH
CUMBERLAND COUNTY
Deceased
Social Security No : 179-12-5350
WHEREAS, on the 9th day of April 2012 an instrument dated
May 11th 2010 was admitted to probate as the last will of
GENEVA C MAGONEL
( First Middle, Last)
late of NEW CUMBERLAND BOROUGH, CUMBERLAND County,
who died on the 25th day of March 2012 and,
WHEREAS, a true copy of the will as probated is annexed hereto.
THEREFORE, I, GLENDA FARNER STRASBAUGH , Register of Wills in and
for CUMBERLAND County, in the Commonwealth of Pennsylvania, hereby
certify that I have this day granted Letters TESTAMENTARY to:
MARGARET R MALEHORN
who has duly qualified as EXECUTOR(RIX)
and has agreed to administer the estate according to law, all of which
fully appears of record in my office at CUMBERLAND COUNTY COURTHOUSE,
CARLISLE, PENNSYLVANIA.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal
of my office on the 9th day of April 2012.
)j Cirk 7~L C,
Register of Wills
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Deputy
**NOTE** ALL NAMES ABOVE APPEAR (FIRST, MIDDLE, LAST)
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OF
GENEVA C. MAGONEL i
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I, GENEVA C. MAGONEL, of New Cumberland, Cumberland County,
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Pennsylvania, do make, publish and declare this to be my Last W-dl and Testament,
hereby revoking all «'ills and Codicils by me heretofore made.
ITEM I: Family Information. I am a widow, having
j been married to Vance J. Magonel, who predeceased me.
ITEM II: Death Taxes. I direct that all inheritance
and estate taxes becoming due by reason of my death, whether payable by my
estate or by any recipient of any property, shall be paid by the Executor out of the
residue of my estate as an expense and cost of administration of my estate, being
charged generally to the residue before division into shares. The Executor shall
have no duty or obligation to obtain reimbursement for any such tax so paid, even
though on proceeds of insurance or other property not passing under this `Till.
ITEM III: Debts and Final Expenses. I direct the
Executor to pay the expenses of my last illness, my legally enforceable debts, and
my funeral expenses from the residue of my estate as an expense and cost of
administration of my estate.
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ITEM IV: Tanyible Personal Property.
(a) Written List. I may leave a written list in my safe deposit
box or elsewhere disposing of certain items of my tangible personal
property. The Executor shall dispose of items of my personal property
as specified in the written list. If no written list is found in my safe
deposit box or elsewhere and properly identified by the Executor
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within thirty (30) days after the probate of my Fill, it shall be
presumed that there is no other statement or list. Any subsequently
discovered list shall be ignored.
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(b) To Niece. I give all my tangible personal property not set
forth in the written list referenced in paragraph (a), including but not
limited to, all of my household furniture and furnishings, books,
p ictures, jewelry, silverware, automobiles, wearing apparel and all
other articles of household or personal use or adornment and all
policies of insurance thereon to my niece, MARGARET R.
MALEHORN. If she does not survive me, this property shall be sold
and the proceeds shall be added to the residue of my estate.
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ITEM V: Cash Gift. I give the sum of TWENTY
THOUSAND ($20,000) DOLLARS to WINEBRENNER THEOLOGICAL
SEMINARY, 950 North Main Street, Findlay, Ohio.
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ITEM VI: Residue. It is my intention that the assets
passing as a result of my death, including non-probate assets, but excluding the
cash gift passing as a result of ITEM V and tangible personal property passing as a
j result of ITEM IV, after the payment of all death taxes referenced in ITEM II, all
debts and final expenses referenced in ITEM III and all expenses of administering
my estate, and also specifically including a lifetime gift which I have made in April,
2010 to my niece, MARGARET R. MALEHORN, in the approximate amount of One
Million ($1,000,000) Dollars, shall be distributed in the following proportions:
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(a) FIFTY (50%) PERCENT to my niece, MARGARET R.
MALEHORN, Marysville, Pennsylvania. If she does not survive me,
this gift shall lapse and shall be proportionately reallocated among the
charities named in this Item.
(b) TEN (10%) PERCENT to MARYSVILLE CHURCH
OF GOD, Marysville, Pennsylvania;
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(c) TEN (10%) PERCENT to BETHANY UNITED
METHODIST CHURCH, Marysville, Pennsylvania;
(d) TEN (10%) PERCENT to COMMUNITY UNITED
METHODIST CHURCH, New Cumberland, Pennsylvania;
(e) TEN (10%) PERCENT to HILL UNITED METHODIST
CHURCH, Duncannon, Pennsylvania; and
(f) TEN (10%) PERCENT to THE NEW CUMBERLAND
PUBLIC LIBRARY, New Cumberland, Pennsylvania.
I direct the Executor to employ a "hotch pot" type calculation to insure
that the residue of my estate is distributed in the percentages necessary to ensure
that the percentage of net assets received by each residuary beneficiary as a result
of my death, taking into account the adjustments and life time gift set forth above,
is in the percentage specified above.
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I direct that each charity hold the gift to it (including assets passing to
those charitable organizations as a result of my having named one or more of them
j as beneficiaries of annuities which I own) as an endowment, the income from which
may be used for whatever purposes the governing body of the charitable
organization deems appropriate. Further, I encourage each charitable organization
to retain LeRoy J. Jones, Jr., of Waddell & Reed for investment advisory services.
ITEM VI: Administrative Powers. In addition to the
powers granted at law, the Executor shall possess the following powers, each of
which shall be construed broadly and may be exercised without court approval, but
in a fiduciary capacity only:
(a) Retain Investments. To retain any y investments I have at
my death, including specifically those consisting of stock of any bank
even if l have named that bank as the Executor.
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(b) Van, Investments. To vary investments and to invest in
bonds, stocks, notes, real estate mortgages or other securities or in
other property, real or personal, without being restricted to so-called
"legal investments", and without being limited by any, statute or rule of
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law regarding investments by fiduciaries.
(c) Division of Assets. In order to divide the principal of my
estate or make distributions, the Executor is authorized to distribute
personal property and real property partly or wholly in kind, and to
allocate specific assets among beneficiaries so long as the total market
j value of each share is not affected by the division, distribution or
allocation in kind. The Executor is authorized to make, join in and
consummate partitions of lands, voluntarily or involuntarily, including
giving of mutual deeds, or other obligations, with as wide powers as an
individual owner in fee simple.
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(d) Sell Assets. To sell either at public or private sale any or
all real or personal property severally or in conjunction with other
persons, and to consummate sale(s) by deed(s) or other instruments
to the purchaser(s), conveying a fee simple title. No purchaser shall be
obligated to see to the application of the purchase money or to make
inquiry into the validity of any sale. The Executor is authorized to
make, execute, acknowledge and deliver deeds, assignments, options or
other writings as necessary or convenient to carry out the powers
conferred upon the Executor.
(e) Encumber Real Estate. To mortgage real estate, and to
make leases of real estate.
(f) Borrow Money. To borrow money from any person,
including the Executor, to pay indebtedness of mine or of my estate,
expenses of administration or inheritance, legacy, estate and other
taxes, and to assign and pledge assets of my estate.
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(g) Pay Costs. To pay all costs, taxes, expenses and charges
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in connection with the administration of my estate.
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(h) Distributions Without Court Order. To make
distributions of income and of principal to the proper beneficiaries,
during the administration of my estate, with or without court order, in
such manner and in such amounts as my Executor deems prudent and
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appropriate.
(i) Rights as Stockholder. To exercise voting rights with
respect to securities which form a part of my estate, and to exercise all
the powers incident. to the ownership of securities.
(j) Reorganize. To unite with other owners of property
similar to property in my estate to carry out any plans for the
reorganization of any company whose securities form a part of my
estate.
(k) Disclaim. To disclaim any interest in property which
would devolve to me or my estate by whatever means, including but,
not limited to the following means: as beneficiary under a will, as an
appointee under the exercise of a power of appointment, as a person
entitled to take by intestacy, as a donee of an inter vivo transfer, and
as a donee under a third-party beneficiary contract.
(1) Tax Returns. To prepare, execute and file tax returns of
any type required by applicable law, and to make all tax elections
authorized by law.
(m) Allocated Expenses. To allocate administrative expenses
to income or to principal, as the Executor deems appropriate.
However, no allocation to income shall be made if the effect of the
allocation is to cause a reduction in the amount of any estate tax
marital deduction or estate tax charitable deduction.
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(n) Emplov Advisors. To employ custodians of property,
investment or business advisors, accountants and attorneys as the j
Executor deems appropriate, and to compensate these persons from
assets of my estate, without affecting the compensation to which the j
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Executor is entitled. j
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(o) Basis Adjustment. To make any adjustment to basis
authorized by law, including; but not limited to increasing the basis of
any property included in my estate, whether or not passing under this
Will, by allocating any amount by which the bases of assets may be
I increased. The Executor shall be under no duty and shall not be
required to allocate basis increase exclusively, primarily or at all to j
assets which pass as part of my probate estate as opposed to other
property for which a basis adjustment is allowable. The Executor shall
allocate basis increase equitably among those beneficiaries receiving
property as a result of my death, but shall not be liable to any person,
nor subject to removal or surcharge, for any reasonable allocation of
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basis increase.
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(p) Compromise Claims. To compromise claims.
(q) Other Acts. To do all other acts in the Executor's
judgment deemed necessary or desirable for the proper and
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advantageous management, investment and distribution of the estate.
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ITEM VIII: Survival. Any person who has died within
thirty (30) days of m5- death, or under such circumstances that the order of our
deaths cannot be established by proof, shall be deemed to have predeceased me.
ITEM IX: Executors. I make the following provisions
with respect to Executors:
(a) Initial Executor. I appoint MARGARET R. MALEHORN
to serve as Executor.
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M Successor Executor. In the event that l\L-kRGARET R.
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IVIALEHORN is unable or refuses to serve as Executor, I appoint
DALE M. MALEHORN to serve as Executor.
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Compensation. The. Executor shall have the right to
(c)
receive reasonable compensation for services rendered and
reimbursement for reasonable expenses.
(d) Standard of Care. No Executor shall be liable or
accountable for any loss that may result from the good faith exercise of
the authority granted in this Will.
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(e) Security. The Executor is specifically relieved from the
duty of filing bond or entering security.
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IN WITNESS WHEREOF, I have set my hand and seal to this, my
Last Will and Testament, consisting of this and the preceding six (6) pages, at the
end of each page of which I have also set my initials for greater security and better
identification this day of 201 6' .
(SEAL)
GENEVA C. MAGO9EL
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~Ve, the undersigned, hereby certify that the foregoing Will was signed,
sealed published and declared by the above-named Testatrix as and for her Last
Will and Testament, in the presence of us, who, at her request, and in her presence
and in the presence of each other, have hereunto set our hands and seals the day
and year first above written, and we certify that at the time of the execution
thereof, the said Testatrix was of sound and disposing mind and memory.
aka
(SEAL) Residing atU
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(SEAL) Residing at
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ACKNOWLEDGMENT
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COMMONWEALTH OF PENNSYLVANIA
SS:
COUNTY OF - + )
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I, GENEVA C. MAGONEL Testatrix whose name is signed to the
attached or foregoing instrument, having been dul)- qualified according to law, do
hereby acknowledge that I signed and executed the instrument as my Last. «A ill and
Testament; that I signed it willingly; and that I signed it as my free and voluntary
act for the purposes therein expressed.
I,
(SEAL)
GENEVA C. NIAGOXTEL
Sworn to and subscribed before
me this (t `~v_ day of (rte'
2012;. J
Notary Public
1VI3, Conimissiorn Expires:
(SEAL)
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C:C)" C.~NEF+LTH O~'•'=hll~;~Y`VANIA
NOTAit 5=AL 1
CYNTHIA J. RULE, NMary Public y
Lemoyne Bore., Cu n`,erland County
L y commission Expires Februar; 3, 2012
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AFFIDA~
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COIVIMONNVEALTH OF PENNSYLV NIA j
SS:
COUNTY OF We, and h~;
the Witnesses v, hose names are signed to the attached or forego ~ g instrument,
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being duly qualified according to law, do depose and say that we were present and
saw Testatrix. GENEVA C. MAGONEL sign and execute the instrument as her
Last. 'Will and Testament; that Testatrix signed willingly and that she executed said
W,111 as her free and voluntary act for the purposes therein expressed; that each of
us in the hearing and sight of the Testatrix signed the Will as ~ATitnesses; and that
to the best of our knowledge the Testatrix was at that time eighteen (18) or more
years of age, of sound mind and under no constraint or undue influence.
Witness ~t fYness
Sworn to and subscribed before
me this ! day of
20 l u
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Notal'37 Public
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My Commission Expires:
(SEAL)
ryC) i 'AL SE-AL
CYNITHIA J. RULE, Notary Puuli7
Lemoyne Boro., Cumberland County
} My f'ommizsion Expires February 3,201 2
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EXHIBIT B
EXHIBIT B
LEGAL DESCRIPTION
ALL THE FOLLOWING described real estate situate in the Borough of New
Cumberland, County of Cumberland and State of Pennsylvania, to wit:
BEGINNING at a point on the easterly line of Bridge Street, at the distance of eighty (80)
feet measured in a southerly direction along Bridge Street from the southeasterly corner of Bridge
Street and Carol Street; thence along lands of Kent S. Morse North 34 degrees 16 minutes East
one hundred ten (110) feet to a point; thence along the tract hereinafter described South 55
degrees 44 minutes East sixty (60) feet to a point; thence along lands of John M. Longyear, Jr.
and wife, South 34 degrees 16 minutes West one hundred ten (110) feet to a point on the easterly
line of Bridge Street; thence along Bridge Street North 55 degrees 44 minutes West sixty (60)
feet to a point, the PLACE OF BEGINNING.
BEING part of Lots Nos. 2 and 3, Block B, in the Plan of Lots of Westover Gardens, said
Plan recorded in the Office for the Recording of Deeds in and for Cumberland County in Plan
Book B, Page 50.
HAVING thereon erected a two story brick and frame dwelling house, known as No.
1829 Bridge Street, New Cumberland, Pennsylvania.
AND ALSO, the right, title and interest of John B. Bruns and Helen G. Bruns, his wife, in
and to that certain strip of piece of ground adjoining the above described premises on the East,
bounded and described as follows:
BOUNDED on the North by lands of Ken S. Morse; on the East by lands of Morris H.
Garvin and wife; on the South by lands of John M. Longyear, Jr. and wife; and on the West by
other lands herein conveyed. Containing six hundred (600) square feet.
EXIIIBIT C
WOOF APPRAISAL GROUP
File No. PVT10390
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APPRAISAL OF
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A SINGLE FAMILY RESIDENTIAL HOME
LOCATED AT:
1829 BRIDGE STREET
NEW CUMBERLAND, PA 17070
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CLIENT:
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GENEVA C MAGONEL
1829 BRIDGE STREET
NEW CUMBERLAND, PA 17070
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AS OF:
DECEMBER 20, 2011
Summary Residential Appraisal Report File No. PVT10390
The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal.
Client Name/intended User GENEVA C MAGONEL E-mail DMMALE HORN NETZERO.NET
• Client Address 1829 BRIDGE STREET Di NEW CUMBERLAND State PA Zip 17070
Additional Intended User(s) MARGARET R & DALE M MALEHORN
• Intended Use ESTABLISH CURRENT MARKET VALUE
Pro ertAddress 1829 BRIDGE STREET City NEW CUMBERLAND State PA Zip 17070
Owner of Public Record GENEVA C & VANCE J MAGONEL Count CUMBERLAND
Legal Description NOT LISTED ON ASSESSMENT INFORMATION
' Assessor's Parcel # 26-22-0820-052 Tax Year 2011 R.E. Taxes $ 2,731.53
Neighborhood Name NEW CUMBERLAND Ma Reference 22-0820 Census Tract 3240-0107.00
Property Ri hts A raised X Fee Simple Leasehold Other describe
M research did X did not reveal an prior sales or transfers of the subject property for the three ears prior to the effective date of this appraisal.
Prior Sale/Transfer: Date Price Source(s)
Analysis of prior sale or transfer history of the subject property (and comparable sales, if applicable) THE PROPERTY IS CURRENTLY NOT LISTED FOR SALE OR LISTED
FOR SALE WITHIN THE LAST 12 MONTHS. THERE HAS BEEN NO TRANSFERS OF THE SUBJECT IN THE LAST THREE YEARS.
Offerings, options and contracts as of the effective date of the appraisal N/A
Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use %
Location Urban LX Suburban ❑ Rural Pro ert Values ❑ Increasin X Stable ❑ Declining PRICE AGE One-Unit 75%
Built-U X Over 75% 25-75% ❑ Under 25% Demand/Supply ❑ Shorta e 0 In Balance Over Supply $(000) (rs) 2-4 Unit 10%
Growth Rapid X Stable Slow Marketin Time ❑ Under 3 mths X 3-6 mths Over 6 mths 75 Low NEW Multi-Family 5%
Neighborhood Boundaries THE NEIGHBORHOOD BOUNDARIES CONSIST OF HOMES IN THE AREA 625 High 160 Commercial 10%
• COMMONLY KNOWN AS THE BOROUGH OF NEW CUMBERLAND. 175 Pred. 55 Other %
Neighborhood Description THE SUBJECT PROPERTY IS LOCATED IN AN ESTABLISHED RESIDENTIAL NEIGHBORHOOD COMPRISED
" PREDOMINANTLY OF SINGLE FAMILY HOUSES. COMMERCIAL USES LOCATED IN THE SUBJECTS' NEIGHBORHOOD, DO NOT HAVE AN
ADVERSE EFFECT ON MARKETABILITY. EASY ACCESS TO EMPLOYMENT CENTERS, SCHOOLS, SHOPPING, AND TRANSPORTATION.
Market Conditions (including support for the above conclusions) AREA REAL ESTATE MARKET IS CONSIDERED TO BE MODERATELY ACTIVE. LOAN
DISCOUNTS, INTEREST BUYDOWNS, AND OTHER CONCESSIONS ARE NOT TYPICAL IN THIS MARKET. CONVENTIONAL FINANCING IS READILY
AVAILABLE.
Dimensions 60 X 110 Area 0.15 ACRES Shape RECTANGULAR View BUSY STREET
Specific Zoning Classification R1 Zonin Descri tion RESIDENTIAL
Zonin Compliance liance X Legal Legal Nonconforming (Grandfathered Use) [J No Zoning E) Illegal (describe)
Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X❑ Yes ❑ No If No, describe.
Utilities Public Other (describe) Public Other (describe) Off-site Improvements-Type Public Private
Electricit X❑ ❑ Water ❑X ❑ Street MACADAM X
Gas X ❑ Sanitary Sewer X❑ Alley NONE ❑
Site Comments NO APPARENT ADVERSE EASEMENTS OR ENCROACHMENTS NOTED. DEED NOT PROVIDED BY CLIENT. SITE AREA TAKEN
FROM CUMBERLAND COUNTY TAX ASSESSMENT DATABASE AND NOT GUARANTEED ACCURATE.
GENERAL DESCRIPTION FOUNDATION EXIERIORDESCRIPTION materials INTERIOR materials
[Desi X❑One ❑Onew/Acc.unit ❑ Concrete Slab Crawl Space Foundation Walls CONC. BLOCK Floors HARDWOOD/AVE
tories 2 ❑ Full Basement XX Partial Basement Exterior Walls BRICK & ALUMINUM Walls PLASTER/AVE.
X❑Det. ❑Att. ❑S-Det./End Uni t Basement Area 704 s .ft. Roof Surface FIBERGLASS SH. TrimlFinish PINE/AVERAGE
xistin Pro osetl ❑ Under Connt. Basement Finish 20 % Gutters & Downs outs ALUMINUM Bath Floor VINYL/GOOD
n (St le) 2 STORY Outside Entr /Exit Sum Pum Window T e WOOD & VINYL Bath Wainscot CERAMIC/AVE.
Built 1939 Storm Sash/Insulated STORM OR THEMO Car Stora e None
ive A e Yrs 35 Screens HALF SCREENS ❑Drivewa # of Cars
Attic JLJ None [Heating X FWA I E] HW Radiant Amenities WoodSiove(s) # Driveway Surface CONCRETE
r~ _ f-1 n n r.,..,..., u .,r rte..
Summary Residential Appraisal Report File No. PVT10390
FEATURE SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3
1829 BRIDGE STREET 245 WESTOVER DRIVE 511 CAROL STREET 1703 ELM STREET
Address NEW CUMBERLAND _ NEW CUMBERLAND NEW CUMBERLAND NEW CUMBERLAND
Proximity to Subject 0.08 NE 0.19 WSW 0.21 S
Sale Price $ $ 186.000 is 168,500 Is 177,000
Sale Price/Gross Liv. Area $ 0.00 s q ft $ 110.06 s . ft. $ 118.16 s . ft. i's 91.61 s . ft.
Data Source(s) ! MULTI-LIST SERVICE MULTI-LIST SERVICE MULTI-LIST SERVICE
Verification Source(s) COUNTY DATABANK COUNTY DATABANK COUNTY DATABANK
VALUE ADJUSTMENTS DESCRIPI ON DESCRIPTION (-)SAdjustment DESCRIPTION (-15 Adjustment DESCRIPTION (-)sAdustment
Sale or Financing VA W/HELP -7,000 VA W/HELP -6,000 FHA W/HELP -4,700
Concessions 97 DOM 96 DOM 64 DOM
Date of Sale/Time 10/21/2011 02/11/2011 01/31/2011
Location SUBURBAN SUBURBAN SUBURBAN SUBURBAN
Leasehold/Fee Simple FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE
Site 0.15 ACRES 0.27 ACRES' -40,000 0.16 ACRES 0.21 ACRES -5,000
View BUSY STREET RESIDENTIAL +5,000 RESIDENTIAL +5,000 RESIDENTIAL +5,000
Design (Style) 2 STORY 2 STORY 2 STORY 2 STORY
Quality of Construction AVERAGE ABOVE AVE. -5,000 ABOVE AVE. -5,000 ABOVE AVE. -5,000
•
■ Actual Age 72 74 59 63
• Condition AVERAGE AVERAGE ABOVE AVE. -15,000 ABOVE AVE. -15,000
Above Grade Totai Bdrms Baths Total Bdrms Baths Total Bdrms. Baths Total Bdrms Baths
•
Room Count 6 3 1.5 6 3 1.5 6 3 1.0 +3,000 8 3 2.5 -8,000
Gross Living Area 30.00 1,686 s q. ft. 1,690 s q. ft. 0 1,426 s . ft. +7,800 1,932 s q. ft. -7,400
Basement & Finished FULL BASEMENT FULL BASEMENT FULL BASEMENT FULL BASEMENT
• Rooms Below Grade DEN UNFINISHED +1,500 REC. ROOM -3,000 DEN
Functional Utility AVERAGE AVERAGE AVERAGE AVERAGE
Heating/Cooling FHA/NONE STEAM/NONE BBHW/NONE FHA/CA -4,000
Energy Efficient Items SOMETHERMO NONE +1,500 THERMOPANES -1,500 THERMOPANES -1,500
Garage/Carport 1 ATT GARAGE 2 DET GARAGE -4,000 1 ATT GARAGE CARPORT +2,000
Porch/Patio/Deck PATIO PATIO COV'D PATIO -1,500 PORCH, DECK -4,000
FIREPLACE 1 FIREPLACE NO FIREPLACE +3,000 1 FIREPLACE NO FIREPLACE +3,000
Net Adjustment (Totap ~X $ 45,000 + xJ- $ 16,200 + X $ 44,600
Adjusted Sale Price Net Adj. -24.2% Net Adj. -9.6% Net Adj. -25.2%
of Com arables Gross Ad. 36.0% $ 141,000 GrossAd'. 28.4% It 152,300 Gross Ad. 36.5% $ 132,400
Summary of Sales Comparison Approach SALE # 1 HAD A BUILDABLE LOT AREA ON CAROL STREET REQUIRING A $40,000 SITE ADJUSTMENT. ALL
THREE SALES REQUIRED A LOCATION ADJUSTMENT FOR BEING LOCATED ON A RESIDENTIAL SIDE STREET. ALL THREE SALES REQUIRED A
QUALITY ADJUSTMENT FOR BEING ALL BRICK CONSTRUCTION. WITH THE CURRENT ROOF PROBLEMS, ORIGINAL KITCHEN, AND THE
EXTENSIVE WALLPAPER, AN AS-IS VALUE FOR THE APPRAISED PROPERTY IS INDICATED AT $135,000. WITH THE ROOF LEAKS CORRECTED,
A NEW KITCHEN, REFINISHED HARDWOOD FLOORS, THE INSTALLATION THERMOPANE WINDOWS, AND PAINTED PLASTER WALLS, A
PROJECTED REMODELED SALES PRICE OF $180,000 IS PROJECTED.
Discussion of methods and techniques employed, including reason for excluding an approach to value: THE INCOME AND COST APPROACHES TO VALUE WERE BOTH
CONSIDERED NO APPLICABLE DUE TO NO RESIDENTIAL RENTAL SALES AND THE AGE OF THE IMPROVEMENTS.
File No PVT10390
Scope of Work, Assumptions and Limiting Conditions
Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as" the type and extent of research and analyses in an
assignment." In short, scope of work is simply whatthe appraiser did and did not do during the course of the assignment. It includes, but is not
limited to: the extent to which the property is identified and inspected, the type and extent of data researched, the type and extent of analyses applied
to arrive at opinions or conclusions.
The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client, other identified intended users and to the
intended use of the report. This report was prepared for the sole and exclusive use of the client and other identified intended users for the identified
intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report.
The appraiser's certification appearing in this appraisal report is subject to the following conditions and to such other specific conditions as are
set forth by the appraiser in the report. All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the
assignment results.
1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or title thereto, nor does the appraiser render any opinion as to the title, which is
assumed to be good and marketable. The property is appraised as though under responsible ownership.
2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property.
3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been
previously made thereto.
4. Neither all, nor any part of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations,
or the firm with which the appraiser is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by
anyone to the public through advertising, public relations, news, sales, or other media, without the written consent of the appraiser.
5. The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice.
6. Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct.
However, no responsibility for accuracy of such items furnished to the appraiser is assumed by the appraiser.
7. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes
no responsibility for such conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and
should not be considered as such.
8. The appraiser specializes in the valuation of real property and is not a home inspector, building contractor, structural engineer, or similar expert, unless otherwise noted. The appraiser
did not conduct the intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the property and any improvements is for purposes of
developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condition are based on surface observations only. The
appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation,
radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested.
This appraisal report should not be used to disclose the condition of the property as it relates to the presencelabsence of defects. The client is invited and encouraged to employ qualified
experts to inspect and address areas of concern. if negative conditions are discovered, the opinion of value may be affected.
Unless otherwise noted, the appraiser assumes the components that constitute the subject property improvement(s) are fundamentally sound and in
working order.
Any viewing of the property by the appraiser was limited to readily observable areas. Unless otherwise noted, attics and crawl space areas were not accessed. The appraiser did not move
furniture, floor coverings or other items that may restrict the viewing of the property.
9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will
be competently performed.
10. Unless the intended use of this appraisal specifically includes issues of property insurance coverage, this appraisal should not be used for such purposes. Reproduction or
Replacement cost figures used in the cost approach are for valuation purposes only, given the intended use of the assignment. The Definition of Value used in this assignment is unlikely
to be consistent with the definition of Insurable Value for property insurance coverageluse.
11. The ACI General Purpose Appraisal Report (GPAR1T4) is not intended for use in transactions that require a Fannie Mae 1004/Freddie Mac 70 form,
also known as the Uniform Residential Appraisal Report (URAR).
Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions
STATEMENT OF ADDITIONAL LIMITING CONDITIONS AND ASSUMPTIONS
THIS APPRAISAL REPORT HAS BEEN PERFORMED FOR THE CLIENT INDICATED IN THE PRECEDING, WITH WHOM PROFESSIONAL
STANDARDS REQUIRES ME TO MAINTAIN A STRICT REQUIREMENT OF CONFIDENTIALITY.
I, BY REASON OF THIS REPORT, AM NOT REQUIRED TO GIVE TESTIMONY IN COURT WITH REFERENCE TO THIS APPRAISAL. IF ANYONE
WISHES MY APPEARANCE, IT CAN BE ARRANGED ONLY BY PRIOR ARRANGEMENT BEING MADE WITH ME. SUCH APPEARANCES SHALL
BE MADE AS AN EXPERT WITNESS AND THE FEE FOR SUCH APPEARANCES SHALL BE AT THE RATE OF $125/HOUR PORTAL TO PORTAL,
PLUS ANY REASONABLE COST INCURRED BY ME.
PURPOSE:
THE PURPOSE OF THIS APPRAISAL IS TO ESTIMATE THE MARKET VALUE OF THE FEE SIMPLE INTEREST IN THE TITLE OF THE PROPERTY.
SIGNATURE:
THE ELECTRONIC SIGNATURE USED IN THIS REPORT ARE PROTECTED BY THE APPRAISER AND ONLY THE APPRAISER HAS COMPLETE
CONTROL OF THE SIGNATURE.
File No. PVT10390
Appraiser's Certification
The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief.
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser's personal, impartial, and unbiased
professional analyses, opinions, and conclusions.
3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties
involved.
4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.
5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results.
6. The appraiser's 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. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.
8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report.
9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by:
Additional Certifications:
Definition of Value: ~Market Value ❑OtherValue:
Source of Definition: REAL ESTATE APPRAISAL TERMINOLOGY
"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."
ADDRESS Of THE PROPERTY APPRAISED:
1829 BRIDGE STREET
NEW CUMBERLAND, PA 17070
EFFECTIVE DATE OF THE APPRAISAL: DECEMBER 20, 2011
APPRAl'Fn VAI I IF OF THE SUBJECT PROPERTY $ 135,000
SUBJECT PROPERTY PHOTO ADDENDUM
Client: GENEVA C MAGONEL File No.: PV710390
Property Address: 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
R FRONT VIEW OF
SUBJECTPROPERTY
Appraised Date: DECEMBER 20, 2011
Appraised Value: $ 135,000
REAR VIEW OF
SUBJECT PROPERTY
±Nr
1n
ti, } 11 STREET SCENE
COMPARABLE PROPERTY PHOTO ADDENDUM
Client: GENEVA C MAGONEL File No,: PVT10390
Property Address: 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
COMPARABLE SALE #1
245 WESTOVER DRIVE
NEW CUMBERLAND
_Sale Date: 10/21/2011
Sale Price: $ 186,000
4
Yi dry ~ F
COMPARABLE SALE #2
F 511 CAROL STREET
NEW CUMBERLAND
Sale Date: 02/11/2011
} Sale Price: $ 168,500
I COMPARABLE SALE #3
1703 ELM STREET
I
FLOORPLAN
Client: GENEVA C MAGONEL File No.: PVT10390
Property Address: 1829 BRIDGE STREET Case No.:
Clt : NEW CUMBERLAND State: PA ZI : 17070
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Living Room Foyer Bedroom
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ri
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Sketch by Apex IV Windows"m
AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN
Code Description Size Totals Breakdown Subtotals
GLAl First Floor 729.00 729.00 First Floor j
GLA2 Second Floor 957.00 957.00 23.0 x 28.0 644.00
BSMT Basement 704.00 704.00 3.0 x 20.0 60.00
P/P PATIO 96.00 96.00 5.0 x 5.0 25.00
GAR Garage 228.00 228.00 Second Floor
23.0 x 39.0 897.00
3.0 x 20.0 60.00
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PLAT MAP
Client: GENEVA C MAGONEL File No.: PVf10390
Property Address: 1829 BRIDGE STREET Case No.:
CIt : NEW CUMBERLAND State. PA ZI : 17070
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Client: GENEVA C. MAGONEL File No.: PVT10390
Property 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
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Comparable Sale l
245 Westover Dr
New Cumberland, PA 17070
(0.0e. miles NE)
Comparable :Sale- 2
511 Carol St
New Cumberland, PA 17070
(0, 19 miles WSW) Subject '
~:1829 Bridge St
Nevv Cumberland, PA. 17070
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Comparable Sale 3
1703 Elm St
New Cumberland, IDA 17070
' (0.21 rniles S )
Client: GENEVA C MAGONEL File NO.: PVT10390
Property Address: 1829 BRIDGE STREET Case NO.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
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WOOF APPRAISAL GROUP
File No. PVT10390
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j INVOICE
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File Number: PVT10390
DALE M MALEHORN
102-A KINGS HIGHWAY
MARYSVILLE, PA 17053
Invoice # : PVT10390
Order Date 12119/2011
1829 BRIDGE STREET
NEW CUMBERLAND, PA 17070
APPRAISAL $ 350.00
Invoice Total $ 350.00
I
$ 350.00
Deposit
Amount Due $ 0.00
Terms: PAID IN FULL
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Please Make Check Payable To:
N/A
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EXHIBIT D
WOOF APPRAISAL GROUP
File No. PVT10390A
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APPRAISAL OF
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A SINGLE FAMILY RESIDENTIAL HOME
LOCATED AT:
1829 BRIDGE STREET
NEW CUMBERLAND, PA 17070
CLIENT:
DALE M MALEHORN
102-A KINGS HIGHWAY
MARYSVILLE, PA 17053
AS OF:
NOVEMBER 26, 2012
APPRAISED VALUE:
$180,000
BY:
REYNOLD R WOOF JR
PA CERTIFIED GENERAL REAL ESTATE APPRAISER
302 SOUTH FRONT STREET, WORMLEYSBURG, PA 17043
FLOORPLAN SKETCH
Client: DALE M MALEHORN File No.: PVT10390A
Properly Address' 1829 BRIDGE STREET Case No.:
DI : NEW CUMBERLAND State: PA ZI : 17070
I
33.0' 6.0' 39.0'
P.R.
Bedroom Bath
Dining Room Kitchen
Bedroom Ili
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N N
Garage
Living Room Foyer
Bedroom
0 8.0' 11.0' 18.0'
20.0' 20.0'
Sketch by Apex IV Windows-
AREA'CALCULATIONS -SUMMARY LIVING AREA 'BREAKDOWN
Code Description - Size - 'Totals BreakdownSubtotals-
GLAl First Floor 729.00 729.00 First Floor
GLA2 second Floor 957.00 957.00 23.0 x 28.0 644.00
BSMT Basement 704.00 704.00 3.0 x 20.0 60.00
GAR Garage 228.00 228.00 5.0 x 5.0 25.00
second Floor
23.0 x 39.0 897.00
3.0 x 20.0 60.00
TOTAL LIVABLE (rounded) 1686 5 Areas Total (rounded) 1686
PLAT MAP
Client: DALE M MALEHORN File No.: PVT10390A
Properly Address' 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
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WOOF APPRAISAL GROUP
Restricted Use Residential Appraisal Report File No. PV`T10390A
This report is limited to the sole and exclusive use of the client. The appraiser's opinions and conclusions set forth in this report may not be understood properlywithout additional information
in theappraisers workfile. The ouroose of this tipraisal report is to provide the client with a credible opinion ofthe defineo value of the subject property, given the intended use of the a raisal.
Client DALE M MALEHORN E-mail DMMALEHORN NETZERO.NET
Client Address 102-A KINGS HIGHWAY CI MARYSVILLE State PA Lo 17053
Intended Use ESTABLISH CURRENT MARKET VALUE
Pro ertAddress 1829 BRIDGE STREET City NEW CUMBERLAND State PA Zip 17070
Other Description (APN, Legal, etc.), if applicable 26-22-0820-052
Pro ert Ri htsA praised a) Fee Simple Leasehold Other describe)
Subject property existing use. RESIDENTIAL Use reflectedin appraisal RESIDENTIAL
Highest and Best Use. X Existing Other:
M research did X did not reveal an prior sales or transfers of the sub ect rp ert for the three ears for to the effective date of this appraisal
Prior Sale/Transfer Date Price Sources
Analysis of prior sale transfer history of the subject property (and comparable sales, if applicable) THERE HAS BEEN NO TRANSFERS OF THE SUBJECT IN THE LAST
THREE YEARS.
Offerings, options and contracts as of the effective date of the appraisal ALTHOUGH THE ESTATE HAS PLACED A FOR SALE SIGN ON THE PROPERTY THEY
HAVE BEEN WAITING FOR THIS REPORT TO ESTABLISH THE ASKING PRICE.
Marketability Comments: AREA REAL ESTATE MARKET IS CONSIDERED TO BE MODERATELY ACTIVE. LOAN DISCOUNTS, INTEREST BUYDOWNS,
AND OTHER CONCESSIONS ARE NOT TYPICAL IN THIS MARKET.CONVENTIONAL FINANCING IS READILY AVAILABLE.
Site Comments. NO APPARENT ADVERSE EASEMENTS OR ENCROACHMENTS NOTED. DEED NOT PROVIDED BY CLIENT. SITE AREA TAKEN
FROM CUMBERLAND COUNTY TAX ASSESSMENT DATABASE AND NOT GUARANTEED ACCURATE.
Improvement Comments: THE APPRAISED PROPERTY IS IN GOOD CONDITION FOR IT'S AGE AND HAS BEEN RECENTLY REMODELED. NEW
ROOF SIDING, GUTTERS, WATER LINE, THERMO'S EXCEPT FOR THE LIVING ROOM, SECOND FLOOR SLIDER. ELECTRICAL SERVICE,
FURNACE, CENTRAL AIR, APPLIANCES, VANITIES, AND TOILET. THE INTERIOR WAS PAINTED AND THE FLOOR WERE REDONE.
FEATURE SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
1829 BRIDGE STREET 1700 ANNA STREET 706 LINWOOD STREET 116 WESTOVER DRIVE
Address NEW CUMBERLAND NEW CUMBERLAND NEW CUMBERLAND NEW CUMBERLAND
Proximity to Subject 0.19 MILES SSE 0.44 MILES SSW 0.15 MILES ENE
Sale Price $ S 190,000 S 194,000 S 220.000
Sale Price/Gross Liv. Area S 0.00 s ft $ 118.90 s q. ft $ 105.15 s q. ff. S 106.54 s . ft.
Data Sources MLS 10222399 MLS 10224666 MLS 10216880
Verification Sources COUNTY DATABANK COUNTY DATABANK COUNTY DATABANK
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-)SAduMenl DESCRIPTION +F)sAdiestmenl DESCRIPTION SAdjusUnenl
Sale or Financing FHA VV/HELP -2,500 CONV W/HELP -5,000 CONV W/HELP -1,000
Concessions 0 DOM 36 DOM 3 DOM
Date of Sale/Time 06/04/2012 08/24/2012 02/03/2012
Location SUBURBAN SUBURBAN SUBURBAN SUBURBAN
Leasehold/Fee Simple FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE
Site 0.15 ACRES 0.28 ACRES -5,000 0.17 ACRES 0.53 ACRES -10.000
View BUSY STREET RESIDENTIAL -5,000 RESIDENTIAL -5,000 RESIDENTIAL -5,000
Design (Style) 2 STORY 2 STORY 2 STORY 2 STORY
Quality of Construction AVERAGE AVERAGE AVERAGE AVERAGE
Actual Age 72 70 62 72
Condition GOOD ABOVE AVE +6,000 ABOVEAVE +6.000 GOOD
Above Grade Total Bdrms Balks Tatal Bdmis. Baths Trial Bd- Balks Total 13fl- Baths
Room Count 6 3 1.5 7 3 1.5 8 3 1.1 7 4 1.1
Gross Living Area 40.00 1,686 sq. ft. 1,598 s .ft. +3,500 1,845 s .ft. -6,400 2,065 sq. ft. -15,200
Basement & Finished PART BASEMENT PART BASEMENT FULL BASEMENT FULL BASEMENT
Rooms Below Grade DEN UNFINISHED +1,000 UNFINISHED +1,000 UNFINISHED +1,000
Functional Utility AVERAGE AVERAGE AVERAGE AVERAGE
Heating/Cooling FHA/CA FHA/CA FHA/CA BBHW/CA
Energy Efficient Items THERMOPANES THERMOPANES THERMOPANES NONE +4,000
Garage/Carport 1 ATT GARAGE 1 ATT GARAGE 2 DET GARAGE -8 000 OFF STREET +5,000
Porch/Patio/Deck BALCONY ENC'D FOR, PATIO -3,000 PATIO PORCH, C'D PATIO 4,000
FIREPLACE 1 FIREPLACE 1 FIREPLACE 1 FIREPLACE 1 FIREPLACE
EXTRA'S NONE POOL, PAVILION -12,000 NONE NONE
Net Adjustment otall X - S 17,000 + X - b 17,400 + - S 25,200
Adjusted Sale Pnce Net Adj. -8.9% Net Adj -9.0% Net Adj. -11.5%
of Com arables Gross Ad 20.0 % S 173 000 Gmss Ad 16.2%1S 176.600 Gross", 20.59/S 194,800
Summa of Sales Comparison Approach MY COMPARABLE SEARCH AND RESULTS. THE COMPARABLE SEARCH INVOLVED SEARCHING FOR SIMILAR
SIZED, AGE, DESIGN, AND CONDITION HOME SALES, LISTING, AND PENDING SALES IN THE LAST YEAR FROM THE DEFINED
NEIGHBORHOOD. ALTHOUGH NO RECENT SALES ON BRIDGE STREET COULD BE LOCATED, MARKET DATA OF CLOSED SALES WAS STILL
CONSIDERED SUFFICIENT TO ARRIVE AT AN OPINION OF VALUE. CONDITION ADJUSTMENTS BASED ON MULTI-LIST DESCRIPTIONS OF
UPGRADES ON COMPARABLE SALES. ALL SALES WERE CLOSED AND CONSIDERED EQUALLY WHEN ARRIVING AT MARKET VALUE. THE
APPRAISER HAS APPRAISED THIS PROPERTY IN THE LAST THREE YEARS FOR THE ESTATE OF GENEVA C MAGONEL.
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Page 7 d 3 19PAR-) Geneal Purpose Apps al Repo
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GP. O0 1208
WOOF APPRAISAL GROUP
Restricted Use Residential Appraisal Report File No. PV`T1039OA
Methods and techni ues employed: Sales COm arisonA roach Gos[A roach Income, Approach Other.
Discussion of methods and techniques employed, including reason for excluding an approach to value: THE INCOME AND COST APPROACHES TO VALUE WERE BOTH
CONSIDERED NO APPLICABLE DUE TO NO RESIDENTIAL RENTAL SALES AND THE AGE OF THE IMPROVEMENTS.
Reconciliation comments. ALL THREE APPROACHES TO VALUE WERE CONSIDERED. HOWEVER MARKET AREA LACKS AN ADEQUATE NUMBER OF
RENTAL SALES TO USE THE INCOME APPROACH. MOST WEIGHT WAS PLACED ON THE MARKET DATA APPROACH. DUE TO THE AGE OF
THE SUBJECT THE COST APPROACH WAS CONSIDERED NOT APPLICABLE.
Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion of the defined value of the real property that IS
the subjectof this reportas of 11/26/2012 ,which istheeffective date ofthis appraisal, is:
❑X Singlepoint S 180,000 Range $ to $ ❑ Greater than ❑ Less than $
This appraisal is made X "ass," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,
❑ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed ❑ subject to the following:
APPRAISED "AS-IS".
Appraiser's Certification
The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and lunr ing conditions and are the appraisers personal, impartial, and unbiased
professional analyses, opinions, and conclusions.
3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties
involved.
4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.
5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results.
6. The appraisers 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. The appraisers analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards o(Protessional Appraisal Practice.
8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report.
9. Unless noted, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by:
Additional Certifications:
Typeof Value: O Market Value ❑ Other Value:
Source of Definition: REAL ESTATE APPRAISAL TERMINOLOGY
Definition of Value: "THE MOST PROBABLE PRICE WHICH A PROPERTY SHOULD BRING IN A COMPETITIVE AND OPEN MARKET UNDER ALL
CONDITIONS REQUISITE TO A FAIR SALE THE BUYER AND SELLER, EACH ACTING PRUDENTLY KNOWLEDGEABLY AND ASSUMING THE
PRICE IS NOT AFFECTED BY UNDUE STIMULUS."
APPRAISER CO-APPRAISER
Signature: Signature:
Name: REYNOLD R WOOF JR Name:
State Certification # GA000002L State Certification #
or License # or License a
or Other (describe): State k: State:
State: PA Expiration Date of Certification or License.
Expiration Date of Certification or License: 06/3012013 Date of Signature:
Date of Signature and Report 11129/2012 Date of Property Viewing:
Date of Property Viewing: 11/26/2012 Degree of property viewing.
Degree of property viewing: ❑ Interior and Exterior ❑ Exterior Only ❑ Did not personally view
❑X Interior and Exterior ❑ Exterior Only ❑ Did not personally view
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'GP, 0008112008
Woof Appraisal Group
File No. PVT10390A
Scope of Work, Assumptions and Limiting Conditions
Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as 'the type and extent of research and analyses in an assignment" In short, scope of
work is what the appraiser did and did not do during the course of the assignment. It includes, but is not limited to: the extent to which the property is identified and inspected,
the type and extent of data researched the type and extent of analyses applied to arrive at opinions or conclusions.
The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client and to the intended use of the report. This report was prepared for the sole
and exclusive use of the client for the itlentihed intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report.
The appraiser's certification appearing in this appraisal report is subject to the following conditions and to such other specific conditions as are set forth by the appraiser in the
report. All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the assignment results.
1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or tole thereto, nor does the appraiser render any opinion as to the tale, which is
assumed to be good and marketable. The property is appraised as though under responsible ownership.
2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property
3, The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been
previously made thereto,
4. Neither all, nor any part of the content of this report copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations,
or the firm with which the appraiser is connected), shall be used for any purposes by anyone bur the client and other intended users as identified in this report, nor shall it be conveyed by
anyone to the public through advertising, public relations, news, sales, or other media, without the written consent of the appraiser.
5 The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice.
6, Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained Irom sources considered reliable and believed to be true and correct.
However, no responsibility for accuracy of such items furnished to the appraiser is assumed by the appraiser
7, The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes
no responsibility for such conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not a home inspection or environmental assessment
of the property and should not be considered as such.
8. The appraiser specializes in the valuation of real property and is not a home inspector, building contractor, structural engineer, or similar expert, unless otherwise noted, The appraiser
did not conduct the intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the property and any improvements is for purposes of
developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condition are based on surface observations only, The
appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation,
radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated ortested.
This appraisal report should not be used to disclose the condition of the property as it relates to the presence/absence of defects. The client is invited and encouraged to employ qualified
experts to inspect and address areas of concern. If negative conditions are discovered, the opinion of value may be affected.
Unless otherwise noted, the appraiser assumes the components that constitute the subject properly improvement(s) are fundamentally sound and in working order.
Any viewing of the property by the appraiser was limited to readily observable areas. Unless otherwise noted, attics and crawl space areas were not accessed. The appraiser did not move
furniture, floor coverings or other items that may restrict the viewing of the property.
9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will
be competently performed.
10. Unless the intended use of this appraisal specifically includes issues of property insurance coverage, this appraisal should not be used for such purposes. Reproduction or
Replacement cost figures used in the cost approach are for valuation purposes only, given the intended use of the assignment. The Defnnion of Value used in this assignment is not
consistent with the definition of Market Value for property insurance coverageluse unless otherwise stated by the appraiser.
Additiona I Comments Related To Scope Of Work, Assumptions and Limiti ng Conditions
STATEMENT OF ADDITIONAL LIMITING CONDITIONS AND ASSUMPTIONS
THIS APPRAISAL REPORT HAS BEEN PERFORMED FOR THE CLIENT INDICATED IN THE PRECEDING, WITH WHOM PROFESSIONAL
STANDARDS REQUIRES ME TO MAINTAIN A STRICT REQUIREMENT OF CONFIDENTIALITY.
THE APPRAISER IS NOT A HOME INSPECTOR, THE APPRAISER ONLY PERFORMED A VISUAL INSPECTION OF THE ACCESSIBLE AREAS AND
THE APPRAISAL CANNOT BE RELIED UPON TO DISCLOSE CONDITIONS AND/OR DEFECTS IN THE PROPERTY.
I, BY REASON OF THIS REPORT, AM NOT REQUIRED TO GIVE TESTIMONY IN COURT WITH REFERENCE TO THIS APPRAISAL. IF ANYONE
WISHES MY APPEARANCE, IT CAN BE ARRANGED ONLY BY PRIOR ARRANGEMENT BEING MADE WITH ME. SUCH APPEARANCES SHALL
BE MADE AS AN EXPERT WITNESS AND THE FEE FOR SUCH APPEARANCES SHALL BE AT THE RATE OF $125/HOUR PORTAL TO PORTAL,
PLUS ANY REASONABLE COST INCURRED BY ME.
PURPOSE:
THE PURPOSE OF THIS APPRAISAL IS TO ESTIMATE THE MARKET VALUE OF THE FEE SIMPLE INTEREST IN THE TITLE OF THE PROPERTY.
THE VALUE IS AS OF THE DATE OF THE APPRAISAL, WHICH IS THE DAY THE PROPERTY WAS LAST VIEWED IN ITS ENTIRETY AND
PHOTOGRAPHED.
SIGNATURE:
THE ELECTRONIC SIGNATURE USED IN THIS REPORT ARE PROTECTED BY THE APPRAISER AND ONLY THE APPRAISER HAS COMPLETE
CONTROL OF THE SIGNATURE.
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SUBJECT PROPERTY PHOTO ADDENDUIV
Client: DALE M MALEHORN File NO.: PVT10390A
Property Address: 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND Slate: PA ZI : 17070
FRONT VIEW OF
fl;' SUBJECT PROPERTY
Y= I Appraised Date: NOVEMBER 26, 2012
Appraised Value: $ 180,000
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COMPARABLE PROPERTY PHOTO ADDENDUM
Client: DALE M MALEHORN File No.: PVT10390A
Property Address' 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
COMPARABLE SALE #1
.n
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NEW CUMBERLAND
Sale Date: 06104/2012
Sale Price: 19o,ooo
COMPARABLE SALE #2
706 LINWOOD STREET
NEW CUMBERLAND
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Sale Date: oarza/zolz
Sale Price: $ 194,000
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COMPARABLE SALE #3
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116 WESTOVER DRIVE
NEW CUMBERLAND
'y Sale Date: 02/03/2012
r "tea Sale Price: $ 220,000
Ghent: DALE M MALEHORN File No.: PVT10390A
Property Address' 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
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Client: DALE M MALEHORN File No.: PVf10390A
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Cii : NEW CUMBERLAND Stale: PA ZI : 17070
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Client: DALE M MALEHORN File No.: PVT10390A
Property Address: 1829 BRIDGE STREET Case No.:
Cil : NEW CUMBERLAND State: PA ZI : 17070
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Client: DALE M MALEHORN File No.: PVT10390A
Property Address: 1829 BRIDGE STREET Case No.:
Cit : NEW CUMBERLAND State: PA ZI : 17070
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File No. PVT10390A
INVOICE
File Number: PVT10390A
DALE M MALEHORN
102-A KINGS HIGHWAY
MARYSVILLE, PA 17053
Invoice PVT10390A
Order Date : 11/16/2012
1829 BRIDGE STREET
NEW CUMBERLAND, PA 17070
APPRAISAL UPDATE $ 200.00
Invoice Total $ 200.00
Deposit )
Amount Due $ 200.00
Terms: DUE UPON RECEIPT
Please Make Check Payable To:
WOOF APPRAISAL GROUP
302 SOUTH FRONT STREET
WORMLEYSBURG, PA 17043
302 SOUTH FRONT STREET, WORMLEYSBURG, PA 17043
EXHIBIT E
Law Offices of
SAIDIS, SULLIVAN & ROGERS
A PROFESSIONAL CORPORATION
635 NORTH 12Tr1 STREET, SUITE 400
LEMOYNE, PENNSYLVANIA 17043
ROBERT C. SAIDIS TELEPHONE: (717) 612-5800 - FACSIMILE: (717) 612-5805 CARLISLE OFFICE:
DANIEL L. SULLIVAN 26 WEST HIGH STREET
ELYSE E. ROGERS EMAIL: attorney@ssr-attorneys.com CARLISLE, PA 17013
JOHN A. FEICHTEL www.ssr-attorneys.com
TELEPHONE: (717)243-6222
DEAN E. REYNOSA FACSIMILE: (717)243-6486
TODD F. TRUNTZ
MARYLOU MATAS Of Counsel
SEAN M. SHULTZ JOHN E. SLIKE
ROBERT B. HAMILTON STEPHEN L. GROSE
HANNAH WHITE-GIBSON
REPLY TO LEMOYNE
December 18, 2012
VIA CERTIFIED U.S. MAIL
NO. 7011 2000 0002 1074 1112
Office of the Attorney General
Charitable Trusts and Organizations Section
14th Floor, Strawberry Square
Harrisburg, PA 17120
Re: Estate of Geneva C. Magonel
Cumberland County No. 2012-00420
Dear Charitable Trusts and Organizations Section:
This is to provide notice, in accordance with Pa.O.C.R. 5.5, of the Petition for
Leave to Purchase Real Property Pursuant to 20 Pa. C.S.A. § 3356 in the estate
captioned above. A true and correct copy of the Petition is enclosed.
The affected charities being listed in Paragraph 5 of the Petition with address
information found in the Certificate of Service on Page 6, are each ten (10%) percent
residuary beneficiaries in accordance with Item VI of Mrs. Magonel's Last Will and
Testament. A copy of Mrs. Magonel's Will is attached to the Petition at Exhibit "A."
Each of the charitable beneficiaries received an interim distribution in the
amount of $255,000 on or about September 26, 2012. In addition, the charities each
received distributions of proceeds from non-probate annuities designated by Mrs.
Magonel. Upon final distribution of the Estate, it is expected that each of the
charities will receive an additional distribution of approximately $170,000, for a net
probate distribution of approximately $425,000 per charity. Finally, it should be
noted that Winebrenner Theological Seminary was distributed its cash gift of
$20,000 pursuant to Item V, on or about May 15, 2012.
Petitioner, Margaret R. Malehorn, is a fifty (50%) percent residuary
beneficiary of Mrs. Magonel's Estate. Her share of the remaining undistributed
Office of the Attorney General
Charitable Trusts and Organizations Section
December 18, 2012
Page 2
residue is more than adequate to cover the purchase price of the Property that is
subject of the Petition.
There are no unresolved claims or material questions of interpretation or
distribution likely to be submitted for adjudication that may affect the value of the
charitable interests.
We are hopeful that you will find the Petition acceptable and that the
Charitable Trusts and Organizations Section will issue a "no objection" letter. I
invite you to contact me at any time if you have objections, questions, or concerns.
Thank you very much for your assistance.
Sincerely,
SAIDIS, SULLIVAN & ROGERS, P.C.
BY:
Todd F. Truntz
Enclosures
cc: Elyse E. Rogers, Esquire
Margaret R. Malehorn
CERTIFICATE OF SERVICE
I, Todd F. Truntz, Esquire, an employee of Saidis, Sullivan & Rogers, PC,
hereby certify that I this day served a copy of the foregoing PETITION FOR LEAVE
TO PURCHASE REAL PROPERTY upon the person(s) indicated below by First
Class U.S. Mail, postage prepaid at Camp Hill, Pennsylvania, and addressed as
follows:
Marysville Church of God Bethany United Methodist Church
106 Maple Avenue 400 Lansvale Street
Marysville, PA 17053 Marysville, PA 17053
Community United Methodist Church Hill United Methodist Church
16t' and Bridge Streets c/o Charnette Wilt
New Cumberland, PA 17070 220 Notch Road
Duncannon, PA 17020
The New Cumberland Public Library Office of the Attorney General
c/o Andrew C. Sheely, Esquire Charitable Trusts and
127 South Market Street Organizations Section
P.O. Box 95 14t' Floor, Strawberry Square
Mechanicsburg, PA 17055 Harrisburg, PA 17120
SAIDIS, SULLIVAN & ROGERS
DATED: December 18, 2012 BY:
Todd F. Truntz, Esquire
Identification No. 83302
635 N. 12t'' Street, Suite 400
Lemoyne, Pa, 17043
(717)-612-5800
Attorneys for Petitioner
6