HomeMy WebLinkAbout09-05-13 .--� REV-1500 Exco,-,o> 1505610143
�~'^F
PA De artment of Revenue � OFFICIAL USE ONLY
p pennsylvania County Code Year File Number
Bureau of Individual Taxes OEPARTMENTOFREVENUE
Po Box.2so6o1 INHERITANCE TAX RETURN 2 1 12 0 4 2 6
Harrisburg,PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
168 24 3231 03 28 2012 07 06 1929
DecedenYs Last Name Suffix DecedenYs First Name MI
NELSON THELMA G
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
� 1. Original Return ❑ 2. Supplemental Return � 3. Remainder Return(date of death
priorto 12-13-82)
� 4. Limited Estate � 4a. Future Interest Compromise � 5. Federal Estate Tax Return Required
(date of death after 12-12-82)
� g Decedent Died Testate � �, Decedent Maintained a Llving Trust � 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
� 9. Litigation Proceeds Received � 10.Spousal Poverty Credit(date of death � ��,Election to tax under Sec.9113(A)
between 12-31-91 and 1-1-95) (Attach Sch._Q)
n
CORRESPONDENT-THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTI/�T�INFORMAT1dN SHOUCb BE DIRECTED TO:
Name '
��a�time Telephone Numbe,r
HAMILTON C DAVIS '.� r7 �"�'532 571`3
f�.
�� .:.
' R�GIS�ER OF WILLS USE ONLY
3... ..._....., �.... ..
First line of address ' �-:
20 EAST BURD STREET -� � �' "
y, �'_._.l ..... ' .
i.._1 1
Second line of address �
SUITE 6
DATE FILED
City or Post Office State ZIP Code
SHIPPENSBURG PA 17257
CorrespondenYse-mailaddress: hdavls@Zullinger-DaVis.com
Under penalties of pery'ury,I declare that I have examined this retum,including accompanying schedules and statements,and to the best of my knowledge and beiief,
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.
SIG ATURE OF PERSON RESPO SIBL' FIL�NG RETURN DATE
c�. BRENDAK. LINE q-�--r3
A DRESS
424 OAKVILLE ROAD, NEWVILLE, PA 17241
SIGNATUR REPA R OTHER THAN REPRESENTATIVE DATE
,. Hamilton C Davis q-3/�j
ADDRESS
20 East Burd Street, Shippensburg, PA 17257
Side 1
� 150561D143 1505610143 J
J 1505610243
REV-1500 EX
DecedenYs Sociai Security Number
oeoeee�es Name: N E L S O N� T H E L M A G 16 8 2 4 3 2 31
RECAPITULATION
1. Real Estate(Schedule A).......................................................................................... 1. 1 5 1 , 0 0 0 . 0 �
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�
5• Cash,Bank Deposits&Misceilaneous Personal Property(Schedule E)................ 5. 8 2 , 4 4 3 . 5 7
6. Jointly Owned Property(Schedule F) ❑ Separate Billing Requested............. 6.
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property
(Schedule G) � Separate Billing Requested............. 7. 5 2 , 1 4 0 . 1 2
g, Total Gross Assets(total Lines 1-7)....................................................................... g. 2 8 5 , 5 8 3 . 6 9
9. Funeral Expenses&Administrative Costs(Schedule H)......................................... 9. 1 0 , 6 61 . 1 2
10. Debts of Decedent,Mortgage Liabilities,&Liens(Schedule I)................................ 10. 4 � 9 8 7 • � 8
11. Total Deductions(total Lines 9&10)...................................................................... ��, 1 5 , 6 4 8 . 9 0
12. Net Value of Estate(Line 8 minus Line 11)............................................................. 12. 2 6 9 , 9 3 4 . 7 9
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made(Schedule J)................................................. 13.
14. Net Value Subject to Tax(Line 12 minus Line 13)................................................. 14. 2 6 9 , 9 3 4 . 7 9
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
at lineal rate X .045 2 6 9 , 9 3 4 . 7 9 1 s. 12 , 14 7 . 0 7
17. Amount of Line 14 taxable
at sibling rate X .�2 17.
18. Amount of Line 14 taxable
at collateral rate X .15 18.
19. Tax Due..................................................................................................................... 19. 12 , 14 7 . 0 7
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT. a
Side 2
� 15D5610243 1505610243 �
REV-1500 EX Page 3 File Number 21 - 12 - 0426
Decedent's Complete Address:
DE EDENT' NAME
NELSON, THELMA G
STREET ADDRESS
11 PARK CIRCLE
CITY STATE ZIP
NEWVILLE PA 17241
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1) 12,147.07
2. CreditslPayments
A• Prior Payments
B. Discount
Total Credits(A +B) (2) 0.0 0
3. Interest
(3) 0.00
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) � 2,147.�7
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?.............................................................. [� �
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?......... �] �x
4. Did decedent own an individual Retirement Account,annuity,or other non-probate property which
contains a beneficiary designation?...................................................................................................................... �' ❑
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 disciosure of
assets and filing a tax refurn are stiil applicable even if the surviving spouse is the oniy 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 chiid is 0 percent[72 P.S.§9116(a)(9.2)].
�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 decedenYs siblings is 12 percent[72 P.S.§9116(a)(1.3). A
sibling is defined under Section 9102,as an individual who has at least one parent in common with the decedent,wFiether by bloo�or adoption.
f SCHEDULE A
COMMONWEALTHOFPENNSYLVANIA REAL ESTATE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF NELSON, THELMA G
21 - 12 -0426
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 wilfing seller, neither being compelled to buy or sell, both having
reasonable knowledge of the relevant facts. Real property which is�ointly-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 decedenYs interest if owned as tenant in common.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 11 PARK CIRCLE, NORTH NEWTON TOWNSHIP, CUMBERLAND COUNTY, NEWVILLE PA 151,000.00
17241 (SEE ATTACHED APPRIASAL)
TOTAL(Also enter on Lfne 1, Recapitulation) 151,000.00
� SCHEDULE E
" � CASH, BANK DEPOSITS, & MISC.
COMMONWEALTHOFPENNSYLVANIA PERSONAL PROPERTY
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF NELSON, THELMA G 21 - 12 -0426
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 BANK CHECKING ACCOUNT NO. 460494 79,619.27
2 2012 PERSONAL INCOME FEDERAL TAX REFUND 993.00
3 2012 PERSONAL INCOME STATE TAX REFUND 250.00
4 PERSONAL PROPERTY AND PERSONAL EFFECTS -AUCTION PROCEEDS 1,041.30
5 2013 PERSONAL INCOME FEDERAL TAX REFUND 540.00
TOTAL(Also enter on Line 5, Recapitulation) 82,443.57
t
COMMONWEALTHOFPENNSYLVANIA SCHEDULE G
INHERITANCETAXRETURN INTER-VIVOS TRANSFERS &
RESIDENTDECEDENT MISC. NON-PROBATE PROPERTY
ESTATE OF NELSON, THELMA G FILE NUMBER
21 - 12 -0426
This schedule must be completed and filed if the answer to any of questions 1 through 4 on page 2 is yes.
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ITEM DESCRIPTION OF PROPERTY � DATE OF DEATH � %�F I EXCLUSION TAXABLE VALUE
Include the name of the transferee,their relationship to decedent � VALUE OF ASSET I DECD'S ,
NUMBER and the date of transfer. Attach a copy of the deed for real estate. ; INTEREST (IF APPLICABLE)
1 RAYMOND JAMES ACCOUNT NOS. 48945598 AND� 52,140.12 I I 52,140.12
61007502, IRA- PAYABLE TO ESTATE � i
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TOTAL(Also enter on line 7, Recapitulation) 52,140.12
SCHEDULE H
FUNERAL DCPENSES&
COMMONWEALTH OF PENNSYLVANIA '�+ �/� ^^�+�+
INHERITANCE TAX RETURN ��INh7TRh1�E�JJ 1 J
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF NELSON, THELMA G 21 - 12 -0426
Debts of decedent must be reported on Schedule I.
ITEM AMOUNT
NUMBER I FUNERAL EXPENSES: DESCRIPTION i
A. 1 PRE-PAID �
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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 9,850.00
3. Family Exemption: (If decedenYs address is not the same as claimanYs,attach explanation)
Claimant
Street Address
City State Zip
Relationship of Ciaimant to Decedent
4. Probate Fees REGISTER OF WILLS -CUMBERLAND COUNTY � 250.00
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5. AccountanYs Fees �
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6. �� Tax Return Preparer's Fees i
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7, � Other Administrative Costs
1 I CUMBERLAND COUNTY LEGAL JOURNAL - LEGAL ADVERTISING , 75.00
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TOTAL(Also enter on Ilne 9, Recapitulation) 10,661.12
Schedule H
Fur�eral E�enses&
COMMO ER TANCE�TAX RNEl'URN AN�A Administrafive Cosis c�ntinued
RESIDENT DECEDENT
ESTATE OF NELSON, THELMA G FILE NUMBER
21 - 12 -0426
2 i THE VALLEY TIMES STAR - LEGAL ADVERTISING � 101.12
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3 j DIVERSIFIED APPRAISAL 350.00
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4 i A&A ABSTRACT j 35.00
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Page 2 of Schedule H
SCHEDULEI
DEBTS OF DECEDENT, MORTGAGE
COMMONWEALTHOFPENNSYLVANIA LIABILITIES & LIENS
INHERITANCE TAX RETURN �
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF NELSON, THELMA G 21 - 12 - 0426
Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses.
ITEM DESCRIPTION AMOUNT
NUMBER
1 PP&L 469.01
2 CENTURY LINK 15.76
3 2012 SCHOOL TAXES 1,786.39
4 NATIONWIDE INSURANCE COMPANY 602.00
5 ORRSTOWN BANK-CHECK ORDER 38.00
6 RAMOS CLEANING SERVICE 150.00
7 MYERS LANDSCAPING AND LAWN CARE 400.00
8 KOUGH'S OIL SERVICE 574.51
9 2013 COUNTY AND TOWNSHIP TAXES 352.11
10 GARAGE REPAIR 600.00
TOTAL(Also enter on Line 10, Recapitulation) 4,987.78
.
REV-1513 EX+(��-p8)
� SCHEDULE J
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF NELSON, THELMA G FILE NUMBER
21 - 12 -0426
RELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE
NUMBER NAME AND ADDRESS OF PERSON(S) I DECEDENT (Words) ($$$)
RECEIVING PROPERTY I �o Not�Ist Trustee(s)
I� TAXABLE DISTRIBUTIONS[include outright spousal !
distributions,and transfers �
under Sec.9116(a)(1.2)] i
1 BRENDA K. LINE � Daughter 1/2 OF RESIDUE 134,967.39
424 OAKVILLE ROAD j
SHIPPENSBURG, PA 17257 ;
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2 BETTY J. NELSON I Daughter 1/2 OF RESIDUE 134,967.39
1430 ASHBOURNE ROAD i
ELKINS PARK, PA 19027 !
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Enter doilar amounts for distributions shown above on lines 15 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
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B.CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
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TOTAL OF PART il-ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET' 0.00
LAST WILL AND TESTAMENT
I, THELMA G. NELSON, of North Newton Township, Cumberland County,
Pennsylvania, declare this to be my Last Will and Testament and revoke any
will or codicil previously made by me.
ITEM I: I direct that all my just debts and funeral expenses, including
my gravemarker and all expenses of my last illness, shall be paid from my
residuary estate as soon as practicable after my decease as a part of the
administration of my estate.
ITEM II: I bequeath those articles of my household furniture and
furnishings and those articles of my personal effects and personal property
as set forth in a separate memorandum, which I shall place with my will or
deposit with my attorney, to the persons therein designated.
ITEM III: I devise and bequeath the residue of my estate of every
nature and wherever situate in equal shares to my daughters, BRENDA K. LINE
and BETTY J. NELSON, providing they shall survive me by thirty days.
ITEM IV: Should either of my daughters predecease me or die on or
before the thirtieth day following my death, I devise and bequeath all of her
share of my estate to her issue, per stirpes, living on the thirty-first day
following my death. Should there be no such issue fol'lowing on the
thirty-first day following my death, I devise and bequeath such share to my
� issue, per stirpes, living on the thirty-first day following my death.
ITEM V: I appoint Farmers Trust Company of Carlisle, Pennsylvania,
guardian of any property which passes outright either under this will or
1AMILTON C. DAVIS
ATTORNEYAT ��w otherwise to a minor and with respect to which I am authorized to appoint a
IEWVILLE & SHIPPENSBURG
PEN71A.
guardian and have not otherwise specifically done so, provided that this
appointment of a guardian shall not supersede the right of any fiduciary in
its discretion to distribute a share where possible to the minor or to
another for the minor's benefit. Such guardian shall have the power to use
principal as well as income from time to time for the minor's support and
education (including secondary, college education, both graduate and
undergraduate, professional and other education) without regard to his or her
parent's ability to provide for such support and education, or to make
payment for these purposes, without further responsibility to the minor or to
the minor's parent or to any person taking care of the minor.
ITEM VI: I direct that all taxes that may be assessed in consequence of
my death, of whatever nature and by.whatever jurisdiction imposed, shall be
paid from my residuary estate as part of the expenses of the administration
of my estate.
ITEM VII: I appoint my daughter, BRENDA K. LINE, executrix of this my
last will. Should she fail to qualify or cease to act as executrix, I
appoint BETTY J. NELSON, executrix of this my last will.
ITEM VIII: I direct that my executrix or guardian or their successors
shall not be required to give bond for the faithful performance of their
duties in any jurisdiction.
IN WITNESS WHEREOF, I hereunto set my hand and seal to this my Last Will
and Testament, written on four (4) sheets of paper, dated this � day of
(,� �J�!/� , 19 8 6.
<�� O ,.,�t v.� �. ��v�,o ,,., . �SEAL)
Thelma G. Ne son
IAMILTOP! C. �AVIS
ATTORNEY AT LAW
EWVILLE & SHIPpEN5Bl1R6
PENNA.
2
The preceding instrument, consisting of this and two (2) other
typewritten pages, each identified by the signature of the testatrix, was on
the day and date thereof signed, published and declared by the testatrix
therein named, as and for her Last Will, in the presence of us, who at her
request, in her presence, and in the presence of each other have subscribed
our names as witnesses hereto.
^ residing at -s�rr ,P� lili` ��- .
_---l��
residing at ���/ /� �
HAMILTON C. DAVIS
ATT�0.HEY AT LAW
VEW4ILLE & SHIPPEHSBUHG
PENIIA.
3
COMMONWEALTH OF PENNSYLVANIA .
. ss.
COUNTY OF CUMBERLAND .
I, Thelma G. Nelson, the testatrix whose name is signed to the attached
or foregoing instrument, having been duly qualified according to law, do
hereby acknowledge that I signed and executed the instrument as my Last Will;
and that I signed it willingly and as my free and voluntary act for the
purposes therein expressed.
r, p� „ � ,�J ����S EAL)
Thelma G. Nelson
Sworn to or affirmed and acknowledged
before me by �,��yyr� (r-, �(/�2(,r�„ ,
the testatrix, this ,q�-�. day of
.�D'�P vr�.�o z°r� , 19 8 6.
VELDA M. SEASE, Notary Public
c�� 5hippensburg,Cumberland Co., Pa.
/l p� � Niy Commission ExAires April 16, 1990
�� Notary Public
COMMONWEALTH OF PENNSYLVANIA .
. ss.
COUNTY OF CUMBERLAND .
",1 ,
We (or I) , 1��f.�t�(� l . �� n -e and � , � �� ��,/�-1� � , the
witness(es) whose name(s) are (is) signed to the attached or foregoing
instrument, being duly qualified according to law, do depose and say that we
were (I was) present and saw the testatrix sign and execute the instrument as
her Last Will; that the testatrix signed willingly and executed it as her
free and voluntary act for the purposes therein expressed; that each
subscribing witness in the hearing and sight of the testatrix signed the Will
as a witness; and that to the best of our (my) knowledge the testatrix was at
that time eighteen (18) or more years of age and of sound mind and under no
constraint or undue influence.
Sworn to or affirmed and subscribed to
before me by �rcK�k Gc. L;,, �e
and '���,µ•, �-(-o n �• v. vis , witness(es) ,
this �� day of .S'ppf,��x d[r' , 1986.
HAMI�TON C. DAVIS VELDq M.SBASE, Notary Public
ATTORNEY AT LAW
VEWVILLE & SHIPPENSBIIRG �����, D Shippensburg, Cumberland Co., Pe,
PEHtU. �-1�- �' "'�"—�� MY Commission Expires April 16, 1990
Notary Public
. �
� � fILE COPY
APPRAISAL REPORT
11 PARK CIRCL�
NEWVILLE, P�NNSYLVANIA
PREPARED FOR
THE ESTATE OF THELMA G. NELSON
BY
LARRY E. I�OOTE
DIVERSIFIEll APPRAISAL SERVICES
35 EAST HIGH STR��T, SUITE 101
CARLISLE, P�NNSYLVANIA
17013-3052
(717) 249-2758
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
LOCATION: 11 Park Circle
Newville, Pennsylvania
TAX PARCEL NUMBER: 30-19-1683-014
IMPROVEMENTS: One-story detached single-family dwelling.
PROPERTY RIGHTS: Fee simple interest.
OWNERSHIP HISTORY: The subject property is owned by Thelma Nelson. The
property last transferred on October 14, 1968 for a
reported consideration of $15,800 and ownership
conveyed on deed reference 22-Y-989.
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 tl�e valuation of the
subject.
CLIENT: The estate of Thelma G. Nelson.
INTENDED USER: The estate of Thelma G. Nelson.
OBJECTIVE: To estimate the market value of the subject property as
unencumbered.
EFFECTIVE DATE: March 28, 2012.
INSPECTION DATE: May 29, 2012.
HIGHEST AND BEST USE: Continued use as a single-family residence.
COST APPROACH: N.A.
SALES APPROACH: $15 l,U00
INCOME APPROACH: N.A.
F1NAL VALUE CONCLUSION: $151,000
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THE VALUATION PROCESS
The valuation process is defined in The App�°aisal of Real Estate as published by the
Appraisal Institute, as "a systematic set of procedures an appraiser follows to provide answers
to a client's questions about real property value."
It consists of a series of steps that are appropriate to a specific and particular appraisal
assignment that begins with a client engaging a real estate appraiser to develop an opinion of
value for a specific property as of a given effective date and ends when the appraiser
communicates and reports the final conclusions and opinions to the client.
Definition of the Appraisal Problem:
The first step in the appraisal process includes the presentation of the following:
1. Identification of the client, the intended use, and the intended users of the appraisal
report.
2. The purpose of the appraisal, including a definition of the value being reported.
3. Determination of the effective date of the appraisal report.
4. Extraordinary assumptions that are applicable to the appraisal assignment.
5. Hypothetical conditions that are applicable to the appraisal assignment.
Scope of Work:
Scope of work is defined in the Uniform Standards of Professional Practice as being
"the type and extent of research and analyses in an assignment." This includes the degree and
extent of research and the data that is deemed as necessary io 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 properiy data, and
comparable property data that is relative and relcvant to the appraisal assignment.
Development and Application of Traditional Approaches to Value:
The appraiser must consider which of the three traditional approaches to value are
applicable, relevant, and necessary for developing a credible opinion of value for the subject
property. These three traditional approaches to value include the Cost Approach, Sales
Comparison Approach, and Income Capitalization Approach. When two or more of these
approaches to value are developed, the appraiser must determine the amount of emphasis and
consideration to be given to each of those approaches to value, since one or more may have
greater significance in the appraisal of a specific property.
Reconciliation of Value Indications and Final Opinion of Value:
The final step in the valuation process is the reconciliation of the value indications
developed by the appraiser. Reconciliation is the analysis of alternative conclusions to arrive at
a final value estimate. Reconciliation is required because different value indications result
from the use of multiple approaches to value and within the application of a single approach.
The final value estimate is not derived simply by applying technical and quantitative
3
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procedures, rather, it involves the exercise of judgment, and the value conclusion reached must
be consistent with market thinking.
4
APPRAISAL CERTIFICATION
I hereby certify that upon application for valuation by:
THE ESTATE OF THELMA G. NELSON
the undersigned personally inspected the following described property:
All that certain piece or parcel of land, with the improvements thereon erected, situate
in North Newton Township, Cumberland County, Pennsylvania, bounded and described as
follows:
Beginning at a stake at the edge of a 33-foot wide public road and corner of Lot No. 3,
now or formerly of Foster Nelson; thence along the said public road and Lot No. 6 of Williams
Lumber Company, North 72 degrees East 200 feet to a stake at a fence line; thence along land
of Howard Brandt, South 8 degrees 34 minutes 20 seconds West 101.34 feet to a post; thence
by the same South 72 degrees West 185 feet to a stake; thence by Lot No. 3, now or formerly of
Foster Nelson, North 17 degrees OS minutes West 100 feet to a stake ai the edge of a 33-foot
wide public road, the place of beginning.
To the best of my knowledge and belief the statements contained in tliis 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 March 28,
2012 is:
ONE HUNDRED FIF1'Y-ONE TI-IOUSAND DOLLARS
$151,000
The property was appraised as a whole, subject to the contingent and limiting conditions
outlined herein.
,� �
� ;t'r•_'^ _,
Larry �. Foote
Pa. Certified General Appraiser
GA-OOOOl4-L
5
INTENDED USE OF THE APPRAISAL
The intended use of this appraisal is to estimate the Market Value of the subject
property as of March 28, 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 tmder conditions whereby:
a. Buyer and seller are typically motivated.
b. Both parties are well informed or well advised, and each acting in w11at
he considers his own best interest.
c. A reasonable time is allowed for exposure in the open market.
d. Payment is made in teims of cash in U.S. dollars or in terms of financial
arrangements comparable thereto.
e. The price represents the normal consideration for the property sold
unaffected by special or creative financing or sales concessions g�anted
by anyone associated with the sale.
Source: Office of the Comptroller of the Currency, l2 CT'I §34.42(�.
HIGHES'I, AND BEST US�
Highest and Best Use is defined by the Appraisal Terminology and Handbook,
published by the Appraisal Institute, as "the most profitable likely use to whicll a property can
be put". The opinion of such use may be based on the highest and most pc•of table 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 dcpend 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 considcration. Also, if thc intended use is dependent on an
uncertain act of another person, the intention cannot be considered.
Based on the above definition and after seeing the site, neighborhood, and area, it is my
opinion that the present use of the subject is its Highest and Best Use.
6
OWNERSHIP HISTORY
The subject property is owned by Thelma Nelson. The property last transferred on
October 14, 1968 for a reported consideration of $15,800 and ownership conveyed on deed
reference 22-Y-989.
ESTIMAT�D 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 f gures publisl�ed by Central Penn
Multi List, Inc.
CCONOMIC TRI:NDS
Historically, property values for similar properties have steadily increased, with
vacancy rates remaining stable. I-Iowever, the recent lag in the economy has resulted in a
leveling of appreciation rates and longer marketing times. Financing is readily available to
qualified purchasers at reasonable rates and terms.
�XYOSURE TIMI:
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 isolatcd 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 adeyuate, sufficient and reasonable time but
adequate, sufficient and a reasonable marketing effort. Lxposure 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.
7
S1TE DATA
ADDRESS: I 1 Park Circle
TOWNSHIP: North Newton
COLTNTY: Cumberland
STATE: Pennsylvania
LOT SIZE: Approximately .66 acre.
SEWERS: On-site septic system.
WATER: On-site well.
ELECTRICITY: Public utility.
LANDSCAPING: Typical for the area, with a sodded lawn, trees and slu-ubs.
D�TRtMCNTAL 1NFLU�NCES
None. Pride of ownership is evident throughout the neighborhood.
DESCI2IPTION OF IMPKOVEMENTS
GENERAL DESCRIYTION: One-stoiy detached single-family dwelling containing approxi-
mately 1,144 square feet of gross living area above gi•ade, with an attached one-car garage.
CONDITION: Cxterior: Average
Interior: �lverage
ROOMS: First Floor: Living room, kitchen with dining area, tlu•ee bedrooms
and a full bathroom.
Basement: Full, with concrete f7oor.
EXTERIOR: Foundation: Concrete block.
Walls: Vinyl siding with permastone accent on front wall.
Sash: Vinyl-clad, double-glazed replaccrnent windows.
Gutters: Aluminum, painted.
Roof: Gable, with shingles.
Storm units: Screens
8
INTERIOR, PRINCIPAL ROOMS: Flooring: Hardwood
Walls: Drywall
Ceilings: Drywall
Tricn: Wood, painted.
KITCHEN: Cabinets: Wood, painted.
Counters: Laminate
Walls: Drywall, painted.
Flooring: Vinyl
Sink: Double-bowl, stainless steel.
BATHROOM: Flooring: Vinyl
Walls: Laminate panels.
Bathtub: Built-in, with shower.
Lavatory: Vanity
Water closet: Two-piece.
Medicine cabinet: Built-in
CONSTRUCT'ION: Joists: Wood
Beams: Wood
Columns: Steel
Plumbing: Copper and plastic.
HGATING: Oil-fired forced hot air.
COOLING: Central air coilditioning.
HOT WATER: Electric, 50-gallon.
ELCCTRIC: Circuit breaker systecn, 200-ampere.
OTHER: There is a breezeway bctween the dwelling and the attached garage.
Attached to the rear of the dwelling is a wood deck. Also located on the site is a detached two-
car gara�e in fair to average condition.
GENERAL CONDITION: All improve►nents are considei•ed to be in average condition on thc
interior and on the exterior, with mechanical systems appearing to be adequate and functioning
properly.
9
THE APPRAISAL PROCESS
Three approaches to value are generally included in an appraisal report. T'hese
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
a new 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 norinal 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 tlle 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 ot�building area.
The income approach concerns itself with present worth of the future potential benelits
of a property. The initial estimate involves the net income, which a fully informed person is
justified in assuming thc property will produce during its remaining useful life. This estimated
net income is then capitalized into a value estimate, based upon tlie level ol�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.
]0
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: 192 Graham Road, Newville.
Date of Sale: March 15, 2012.
Sale Price: $155,000
Size: 1,316 square feet.
Unit Price: $117.78 per square foot.
SnLE NO. 2:
Location: 129 Centerville Road, Newville.
Date of Sale: June 20, 2011.
Sale Price: $157,000
Size: 1,568 square feet.
Unit Price: $100.13 per sqtiare foot.
SALC NO. 3:
Location: 176 Blosei•ville Road, Carlisle.
Date of Sale: November 22, 2010.
Sale Price: $148,900
Size: 1,l 48 square I-eet.
Unit Price: $129.70 per squarc 1oot.
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 tllis
page are dollar adjustments reflecting market reaction to those items of signilicant variation
between the subject and comparable properties. If a significant item in the comparable
properiy is superior to, or more favorable than, the subject property, a minus (-) adjustment is
made, thus reducing the indicated value of the subject; if a significant item in the comparable is
inferior to, or less favorablc 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 thc subject proper[y by the Sales Comparison Approach is $151,000.
11
SALES COMPARISON ANALYSIS
ITEM SUBJECT COMPARABLE #1 COMPARABLE #2 COMPARABLE #3
11 Park Circle 192 Graham Road 129 Centerville Road i 176 Qloservillc Road
Address Newviile Newville Newvilic � Carlisle
Proximity[o Sub�ect ;{"ti �r,' ���,",-�s"��" 2.99 miles 1.19 miles 524 miles
Sale Price N.A. ��A�;,�nMw,,�kw i� w; $15�,000 , '; : $157,000 . $Id8,900
.,r . . . .,, .
Price/Sq.Ft.GLA N.A. $I 17.78 �; +, i ,�` $100.13 �'Fa� $129.70 '` ;. ;.;;.
Data Source Inspection Courthouse&Central Penn MLS � Courthouse&Central Penn MLS Counhousc&Ccntral Penn MLS
ADJUSTMENTS DESCRIPTION DESCRIPTION $ Adjust. DESCRIP'I'ION $Adjust. UESCRIPTION $Acijust.
Sales or Pinancing ;;�� w'` "' "� `� $5,000 buyer's clos. $8,500 buyer's clos. �3,000 buyer's clos.
Concessions � �,� costs pd.by seller. -�,000 costs pd.by scller. -8,500 costs pd.by seller. -3,000
,x
DateofSale/Time Asof3-28-12 3-19-12 6-20-I1 II-23-10
Location Average Similar Similar Simila�r
Site/View .66 acre 1.22 acres -3,000 41 acm +2,000 I.01 �cres -2,000
Design and Appeal One-story detached Similar Similar Similar
Construction Vinyl w/permastone Vinyl siding w/hrick i3rick -2,000 [3rick -2,000
Age 54 years 35 years 44 years 47 ycars
Condition Avcragc Superior -3,000 Superior -3,000 Superior -i,000
Above Grade "I'ot. [ied. Bath Tot. Bed. Bath fot. L3cd. f3ath fot. 13ed. 13ath
Room Count -- --
5 3 I G 3 I'/� -3,000 7 3 1 -4,000 5 3 I
-L ---
Gross Living Area 1,144 square feet 1,316 square leet -5,200 1,568 square teel -12,700 1,148 square teet
[3ascment&Finished
Rooms Below Grade Full basemcnt Similar Similar Similar
Functional Utility Avera c Similar Similar Similar
Heatin /Coolin� Oii�HA w/cen.air Heat um Baseboard electric +2,000 Oil FHA w/cen.air
Gara c/Car ort I-car&2-car ara es One-car �ara��e +10,000 I_car built-in Karage +12,000 One-car carport i 12,000
Porches,Patios Breezcway,wood
Pools,etc. deck. Porch +2,000 Porcli,patio +I,000 I'orch +2,000
Special Energy Typical for thc
Cfficient Items re ion. Similar Similar Similar
f•'ire lace(s) None None Non� None
Other(e.g.kitchen
equip.,remodeling) Buil[-ins. Similar Similar Similar
Net Ad.(total) "
ru:.' , ` x,' .,�s .�i:�....,� .:�.". .....s :- -7,2U0 ;' •,'.1.. a ,, „..,.; -13,200 +2,000
Indicatcd Valuc '���- " ;. �r'� :-, `.�i�,'..`,. f,�, � M; �_ -;
of Sub'ect �>,,�: r..3 .. � .:�r . ��.N��.� � , .:. 147,800 . . �.. ..�,:,° � 143.A00 ' _, 1�0.90(1
FINAL iNDICAT�D VI�LUE OI� SUI3JECT PROPERTY: $151,000
12
_ ,e ,� �. � r-�.r� ���.,:_��..� �� R� � , _ _._
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 $15 l,000
Value Indicated by lncome Approach N.A.
These approaches are representative of the market value of the subject property. I have
carefiilly reexamined each step in each method, and I believe the conclusions accurately reflect
the attitude of typical purcllasers 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 npproach 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 gencral area. The adjusted sales
prices are most consistent under comparison. This approach is thc most reliable because it
reflects the reactions of typical buyers and sellers in the market.
The lncome Approach is �nost applicable to income producing properties or properties
that are primarily utilized for income producing purposes. Purchasers of income producing
properties are willing to pay no more for a particular property than the net operating income
will support. Since the majority of properties similar to the subjecl are not utili-r_ed 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 March 28, 2012, is:
ONE HUNDRED FIF`I�Y-ONL THOIJSAND DOLLARS
$151,000
1�
UNDERLYING ASSUMPTIONS AND LIMITINC
CONDITIONS SUBJECT TO THIS APPRAISAL
l. I assume no responsibi(ity 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 ]ess valuable. I assume no responsibility for
such conditions or for engineering which might be required to discover such factors.
5. The inforn�ation, estimates, and opinions furnished to me and contained in this report
were obtained fi�om sources considered reliable and believed to be true 117CI correct.
However, no responsibility for acc�u-acy can be assumed by me.
6. This report is to be used in its entirety and only for the purpose for which it w�ls
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 iirm with which he is connected) shall be
reproduced, published, or disseminated to the public through advertising media, public
relations media, news media, sales media, ol- 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 va►ue
herein reported. A title search was not requested nor included in the scope of work for
this assignment.
9. This appraisal was prcpared 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 infonnation available at the time of tlie
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. 'I'he appraiser accepts no responsibility for damages
suffered by any third party as a resu�t of reliance on or decisions made or actions taken
based on this report.
14
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 developin� 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 si�n-
ing this certification.
Larry F,. Foote
Pa. Certified General Appraiser
GA-000014-I.
l�
" — _
PRIVACY NOTIC�
Pursuant to the Gramm-Leach-Billey Act of 1999, effective July ], 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 "nonpubiic
personal infornzation" about you. This information is used to facilitate the services t11at we
provide to you and may include the information provided to us by you directly or received by
us from others with your authorization.
We do not disclose any nonpublic personal information obtained in the course of our
engagement with our clients to nonaFfiliated third parties, except as necessary or as required by
law. By way of example, a necessary disclosure would be to our independent contractors, and
in certain situations, to unrelated third party consultants who need to know that information to
assist us in providing appraisal services to you. All of our independent contractors and any
ihird 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 disclostire
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 proiessional 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 infonnation from unauthorized access by third parties, we maintain
physical, electronic and procedural safeguards that comply with our pro(essional standards to
insure the security and integrity of your information.
16
LARRY E. FOOTE
REAL ESTATE APPRAISER
EXPERIENCE:
1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa.
Principal Broker, LaRue Development Company, Carlisle, Pa.
1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa.
1972-1976: Realtor Associate, Jack Gaughen 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, orfice
buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, daycare centers,
warehouses, and manufacturing facilities.
�DUCATION:
Bachelor of Business Administration, Pennsylvania State University, 1976.
Associate Bachelor of Business Administration, Harrisburg Area Community
College, 1974.
Diploma, Carlisle Senior Fligh School, 1965.
Certificate, Pennsylvania Realtors Institute, GRI (, GRI I(, GRI Ill.
Certificate, Realtors National Marketing Institute, Cf 101, CI ]02, CI 103, CI I 04,
CI 105.
Standards of Professional Practice, American lnstitute of Real Estate Appraisers.
Real Estate Appraisal Principles, nmerican lnstitute of Real Estate Appraisers.
Residential Valuation, nmerican Institute of Real Estate /lppraise;rs.
Appraisal Procedures, Ap�raisal Institute.
Principles of Income Property Appraising, /lppraisal Institute.
Case Studies in Real Estate Valuation, Appraisal Institute.
Report Writing and Valuation Ai�alysis, Appraisal Institute.
PIZOFESS�ONAL LICENSES:
General Appraiser#GA-000014-L, Commonwealth of Peni�sylvania.
Real Estate E3roker#RI3-029729-A, Commonwealth of Pennsylvania.
PROFESSIONAL DESIGNATIONS EnRNED:
GR1: Graduate of the Pennsylvania Realtors lnstitute, a�vardcd by the Peniisyl-
vania Association of Realtors.
CRS: Certified Residential Specialist, awarded by the Realtors National Market-
ing Institute of the National Association of Realtors.
CCIM: Certified Commercial In��estment Member, awarded by the Realtors
National Marheting Instit�rte of the National Association of Realcors.
PROFESSIONAL ORGANIZATION AFFILIATIONS:
National Association of Realtors nppraisal Section.
Greater Harrisburg Association of Realtors.
Pennsylvania Association of Ilealtors.
National nssociation of Rcaltors.
Realtors National Marketing lnstitutc.
17
PAST CLIENTS:
Borough of Carlisle American Home Bank
Keystone Financial Mortgage Trans Union
Cornerstone Federal Credit Union M&T Mortgage Corporation
Pennsylvania State Bank Cody Financial Mortgage Services
Commerce Bank Waypoint Bank
Cumberland-Perry Association for Retarded Citizens Northwest Savings Bank
Carlisle Suburban Authority Blue Ball National Bank
Members is` Federal Credit Union Adams County National Bank
Pennsylvania National Bank Countrywide Home Loans
Evans Financial Corporation Aarrow Mortgage
Greenawalt& Company, CPA Various law firms and individuals
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 Mort�age Corporation
Washington Mutual Home Loans, Inc.
Prudential Relocation Services
I,ender's Choicc
Market Intelligence, Incorporated
United Telephone Employees Federa) Credit Union
Cumberland County Commissioners
Allstate Enterprises Mortgage Corporation
Dickinson College
PPG Industries, Incorporated
Gettysburg College
Redevelopment Authority of Cumberland County
IZecord Data Appraisal Services, Incorporated
First United Federal Savings Association
Fulton Bank
United States Marshall Service
GMAC Mortgage Corporation
Orrstown Bank
Letterkenny Federal Credit Union
QancPlus Mortgage Corporation
Coldwell Banker Relocation Services, Incorporated
Central Pennsylvania Savings Qank
Mellon Bank
Provident Home Mortgage Corporation
Urovers Bank
18
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61007502
/��
O� J � February 29 to March 30, 2012
Account#s�oo�502
' � � . �� ►
Registered to:THELMA G NELSON IRA(RAYMOND JAMES&ASSOC INC CSDN�11 PARK CIR �NEVWILLE PA
17241-9447119
This Statement Year to Date
Value This Sffitemer�t Be9inning Balance ;24,427.35 ;22,700.25
Deposits $0.00 $0.00
$24,921.36 Income $113.21 $113.21
WitFidrawals $0.00 $0.00
Last Statement Prior Year-End ��� �•� $0.00
Ct►ange in Value �380.80 $2,107.90
$24,427.35 �22,700.25 Ending Balance s24,921.36 ;24,921.36
Dollar-WegMed Perfortriancet
YTD Annual'¢ed Since 07l12/2005
9.78°i6 3.5596
P.rramr�o.wrc.q�ar a�nsaoos
Exckrdss sorrn inMed p�6w�s ad unpriod aeaafW�.Mrwky and RJ BaN�CD pafamenos may naf M Y induslw.
••
• Your primary objective is Income,with a medium risk tolerance and a 5 to 10 year t�ne horizon.
Your secondary objective is Grovvfh, with a medium risk tolerance and a 5 to 10 year time horizon.
• Your Distribution Standing Withholding Elections
• Federat Withholding Election(No Election on File)
• State(PA)Withholding Election (State Withhotding not available)
P{�se see Starxi'r�g Wrtt�F,okling Eteciions on the UnderstancGng Your Stateme�t pzge.
• Primary Benefiaaries:Betry Janks(50.00%), Brenda K Line(50.00%)
• You've taken 50.00 of your s�,392.65 required minimum distribution (RMD)for 2012, leaving$1,392.65 remaining.
(12/31,�011 value subject to RMD:;22,700.25, Factor from Uniform Factor Table:16.30, age 83.00)
. . .
For more information,
visit raymondjames.com/invesforaccess
Estimated
C}uantiry Price Value Gain or(Loss)° Annuaf Income
Cash &Cash Atternatives
Raymond James Bank ;131.57 $0.02
Deposit Program $
0.02°/a
Citibank NA $131.57
Cash 8 Cash Alternatives Taiai $131.57 $0.02
Your bant prioMy state: PA
Participating banks recently added_C�mrrx,rutyTrust Bank,added on o3/22/2012
�-Please See the Raymand James Bank Deposif Program on the lJnderstandir�g Your Statement page.
�I
,� Account carried by RaymondJames&Associates,Inc�Member New York Stoc(c Exchangs/SlPC
Page 5 of 12
48945598-17.-1 4IZ(M52
�E��'ll J�OND J � February 29 to March 30, 2012
Ac;count#6100T502
. ' . . . . - .
Estimated
Quantity Price Value Gain or(Loss)° Annual Income
Mutual Funds
AMERICAN BALANCED 648_75Q $19.700 �12,780.38 $256.26
FUND CLASS A-
AMERICAN FUNDS M/F
(ABALX}
INVEST1V�Nff COMPANIf 400_848 $29.960 �12,009.4i $208.44
OF AMERICA CLASS A-
AMERICAN FUNDS M/F
(AIVSX)
Mutua!Funds Totat �24,789.79 $464.70
Portfolio Total �24,921.36 �4fi4.72
° Pleasesee Cos1 Basis on the UndersiandingYourStatementpage_
• �
Date Activity Type Description Quantity Amount
income
03l15/2012 Dividend INVESTMENT COMPANY OF $51.88
AMERlCA CLASS A-AMERICAN
FUNDS M/F (AIVSX)
$.12959 per share x 399.906 shares
03l19/2012 Dividend AMERICAN BALANCED FUND $61.33
CLASS A-AMERICAN FUNDS MJF
(ABAU�
$.09439 per share x 645.629 shares
lncome Tota/ $�q3,2�
Purchases, Sales and Redemptions
03l1512012 Reinvest INVESTMENT COMPANY OF 1.742 $(51.88)
AMERtCA CLASS A-AMERICAN
FUNDS M/F (AIVSX)
S 12999 per share x 339.)06 shares
43/19/2012 Re�vest AMERICAN BALANCED FUND 3.121 $(61.33)
CLASS A-AMERICAN FUNDS M/F
(��)
$.09499 per share x 645.fi29 shares
i�� Page 6 of '12
484i5598-i1-1 41Z/4452
�8945598
RC���.11�1�N� JL'111�� February 29 to March 30, 2012
Account#48945598
. � . , ;. , . ;
Registered to:THELMA G NELSON � 11 PARK CIR �NE1M11LLE PA 17241-9447119
This Statement Year to Date
Value This Statement Bg9inning Balance ;36,529.75 532,345.75
Deposits $0.00 $0.00
$37�195.51 �noo� S24fi.07 $430.59
w�tndrawa�s 3�.00 30.00
Last Statement Prior Year-End �xPenses $0_00 $0.00
Change in Value $419.69 54,419.17
a36,529.75 $32,345.75 Endfng 8atance 537,195.51 ;37,195.51
DoUar-Weighted Performance'
1(TD Annualized Since 07/11/2005
14.999'a 4.93%
Pm(vtmarr�fnc�ptbn:07111f2DW
6mpl0�s sana IYn11�0 parina�ip�antl txipricatl tecaxllfea A�xwNy wKl R.1 Baric CD periam�ra may nat bs a�krlusive.
•• .•
• Your prtmary objective is Inc�ome, with a meciium risk tnlerenoe and a 5 to 10 year time horizon.
Your seoondary objeclive is GrovvUi,with a medium risk toleranoe arxi a 5 to 10 year time horizon.
� �� � � For more in�ormation,
visit raymondjames.co�nvestoraccess
Estimated
Quantity Price Value Gain or(Loss)° Annual Income
Cash &Cash Altematives
Raymond James Bank ;1,731.62 $0.34
Deposit Program �
0.02%
f2aymond James Bank N.A. $1,403.24
American Express Centurion �328.38
Cash 8 Cash Alternatives Tota/ $1,731.62 $0.34
Your bank priority staEe: PA
Paficlpating banks recently added:CommunityTrust 8ank,added on 03/2?J20t2
�Please See the Raymond James Bank Deposit Program on the Understanding Your Statement page.
Mutual Funds
AMERICAN BALAt�CED 865.888 519.700 517,057.99 $6,003_63g $342.03
FUNU ClASS A-
AMERICAN FUNDS M/F
(��)
Me�ftra!Funds Total �17,05T.99 $6,003.63 $342.a3
� Account carried by RaymondJames 8 Associates,inc�MemberNew York Stock Exchange/SlPC
Page 2 of 12
4E94559E-11-1 ilz/4452
O�� ���� February 29 to Ma�ch 30, 2012
Account#48945598
. • • . . .
Estimated
Quan6ty Price Value Gain or(Loss)° Annual Income
Ftxed Income
BANK OF AMERICA 360.000 $25.690 �9,248.40 S(371.49) $738.00
CORPORATION DEP
1/1000SR H
NON-CUMULATIVE 8_2%
Caliable 05/01/2013
(060505765)
RaHngs Informallon: Moody's lnr�g Terrn Rating:Ba3,Lrmg Term Wat�h:Downgr�ie S8�P L�ng Term Ratng:68+,
Long Term Watch:Not Meaning(ui
BARCLAYS BANK PLC 370.000 524.750 59.157.50 �(595.10) $656.75
PERPETUAL NON-CUM
PFD, 7.1%
NON-CUMULATIVE
(BCS.PRA)
Ratings information: Moody's t_«�g"rerm Rating:tiaa3.Lon9 Term Watch:Downgrade
F&ed Income Tofa! 518,40�90 ${966.59) 51,394.75
Portfolio Total �37�195.51 S5,Q37.04 �1,737.12
B Please see Cost Basis on the Undersfandin�YourStatementpags regardingOpen End Mutual Funds.
° Pieasesee Cost Basis on the Understandit�gYourStaismentpage.
•
Date Activity Type Description Quantiry Amount
Income
03/16/2012 Dividend- 6ARCtAYS BANK PLC $164.19
Taxable PERPETUAL N�N-CUM PFD,7.1°�
NON-CUMULATNE
(BCS.PRA)
$.44376 per share x 370.000 shar�ss
03l1912012 Dividend- AMERICAN BALANCED FUND $81.86
7axable CLASS A-AMERICAN FUPlDS M/F
(�-X)
S.os5oo per sharg x as1.722 shares
03/30/2012 ic�terest at RJ Raymoncl James Bank DEposit �.a�
Bank Deposit Pro9ram
Program
I�came Total $246.07
��� Page 3 of 12
S 48945598-11-1 4]Z/4452
���1��0� ���`��� February 29 to March 30, 2012
Acoount#48945598
. • . -.
Date Activity Type Description Quantity Amount
Purchases, Sales and Redemptians
0 3/1 91201 2 Reinvest AMERICAN BALANCED FUND 4.16fi 3(8�•�)
(:LASS A-AMERICAN FUNDS M/F
(ABALX)
$.p95pQ pe�share x 861.722 shares
Cash Sweep Transfers
03/16/2012 Transfer To Raymond James Bank Deposit $(164.19}
Program
�' Page 4 of 12
48445598-11-1 41Z/4452
LAW OFFICES OF
ZULLINGER-DAVIS
PROFESSIONAL CORPORATION
JOEL R.ZULLINGER SUZANNE M. TRINH HAMILTON C.DAVIS
jzullinQer(c�zullinger-davis.com strinh e zullinger-davis.com hdavis(c�zullinger-davis.com
14 North Main Street,Suite 200 20 East Burd Street,P.O.Box 40
Chambersburg,PA 17201 Shippensburg,PA 17257
717-264-6029 717-532-5713
717-264-1884(FAX) 717-530-5222(FAX) :-.,
c'� -., : �
c -'..
Q --�� ,a
,
4� �
September 4, 2013 Frt�, -
: . : �.._�
Register of Wills -�
Cumberland County Courthouse �� d
Room No 102 ` = . `"``' �
One Courthouse Square ��" ;`.:_� � ' �-,;
Carlisle,PA 17013
RE: Estate of Thelma G.Nelson
Est.No. 21 12 0426
Dear Sir or Madam:
Enclosed herewith please fmd an inheritance tax return, filed in duplicate, and check number
1040 in the amount of$12,147.07which represents tax due for the above estate.
A check for filing fee in the amount of$15.00 is also enclosed as check number 1042. Please
send a bill to our Shippensburg office for any additional costs due.
If there are any questions or concerns,please contact me at the Shippensburg office. Thank
you.
Sincerely yours,
- Cl,��L.�-1��.�� b
� �
amilton C. Davis
for Zullinger- Davis
Professional Corporation
HCD/tlb
Enclosures
Reply to: Hamilton C.Davis,Esquire
P.O.Box 40
Shippensburg,PA 17257
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