HomeMy WebLinkAbout02-28-14 (3) 1505611185
REV-1500 EX(02-11)(FI)
OFFICIAL USE ONLY
PA Department of Revenue County Code Year File Number
Bureau of Individual Taxes INHERITANCE TAX RETURN
Po sox z8osol 21 13 01349
Harrisburg,PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
06012013 09101926
Decedent's Last Name Suffix Decedent's First Name MI
POWELL ROBERT E
(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 BOXES BELOW
® 1. Original Return ❑. 2. Supplemental Return 3. Remainder Return(Date of Death
Prior to 12-13-82)
❑ 4. Limited Estate ❑ 4a. Future Interest Compromise(date of ❑ 5. Federal Estate Tax Return Required
death after 12-12-82)
0 6. Decedent Died Testate F-1 7. Decedent Maintained a Living 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 ❑ 11. Election to Tax under Sec.9113(A)
Between 12-31-91 and 1-1-95) (Attach Schedule O)
CORRESPONDENT- THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
KEITH 0 • BRENNEMAN 717-697-8528
REGISTERMWILLS USE ONLY 73:�,
First Line of Address I
r'... ca
SNELBAKER & BRENNEMAN "'=(
Second Line of Address
:7= _ C a
4.4 WEST MAIN STREET =~
City Or Post Office State ZIP Code DATE FILED —
y
MECHANICSBURG PA 17055
Correspondent's e-mail address:
Under penalties of perjury, I declare that I have examined this return,including accompanying schedules and statements,and to the best of my knowledge and belief,
it is true,correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
I NATURE OF PERSON E2 SPOR FILING RETURN D E l
DR
.JACdeELINE P . TURLEY, CO-EXCECUTOR SIDNEY B• WARNER, CO-EXECUTOR
SIG URE OF PREPARER OTHER THAN REPRESENTATIVE I DATE
2 lel
ADDRESS
KEITH 0 - BRENNEMAN, ESQUIRE 44 UaT MAIN STREET, MECHANICSBURG
PLEASE USE ORIGINAL FORM ONLY PA, 17055
Side 1
1505611185 OM46473.000 1505611185 \
1505611285
REV-1500 EX(FI)
Decedent's Social Security Number
Decedent's Name: P 0 W E L L ROBERT E
RECAPITULATION
1. Real Estate(Schedule A) . . . . . . . . . . . . . . . . . . . . . . . . . 1. 0 .00
2. Stocks and Bonds(Schedule B) . . . . . . . . . . . . . . . . . . . . . . . . . 2, 0 . 110
3. Closely Held Corporation,Partnership or Sole-Proprietorship(Schedule C), , , ; , 3. 0 . 00
4. Mortgages and Notes Receivable(Schedule D) , , , , , , , , , , , , , , , , , 4. 0 .00
5. Cash, Bank Deposits and Miscellaneous Personal Property(Schedule E) , , , , , 5. 5,762 -8 7
6. Jointly Owned Property(Schedule F) F� Separate Billing Requested , , , , 6. 4 4,0 9 3 .74
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property
(Schedule G) El Separate Billing Requested . . . . 7. 0 .110
8. Total Gross Assets(total Lines 1 through 7) , , , , , , , , , , , , , , , , , , g 491856 .61
9. Funeral Expenses and Administrative Costs(Schedule H). . . . . . . . . . . . . 9. 5,0 8 8 - 69
10.. Debts of Decedent, Mortgage Liabilities,and Liens(Schedule 1) , , , , , . . . . 10. 841 - 28
11. Total Deductions(total Lines 9 and 10), , , , , , , , , , , , , , , , , , , , , 11. 5,929 .9 7
12. Net Value of Estate(Line 8 minus Line 11) , , , , , , , , , , , , , , , , , , , 12. 431926 -6 4
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made(Schedule J), , , , , , , , , , , , , , , , 13, 0 .00
14. Net Value Subject to Tax(Line 12 minus Line 13) , , , , , , , , , , , , , , , 14. 431926 - 64
TAX CALCULATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate,or
transfers under Sec.9116
(a)(1.2)X.0_ 0.00 15. 0 . 00
16. Amount of Line 14 xable
at linealrateX- 4� 21,427.08 16. 964 . 22
17. Amount of Line 14 taxable
at sibling rate X.12 0 . 00 17. 0 . 00
18. Amount of Line 14 taxable
at collateral rate X.15 221666 -66 18. 3,400 -00
19. TAX DUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 4-,364 - 22
20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT a
Side 2
1505611285 1505611285 J
OM4648 3.000
REV-1500 EX(FI) Page 3 File Number
Decedent's Complete Address: 21 13 0649
DECEDENTS NAME
POWELL ROBERT E
STREET ADDRESS
TOWNSHIP
CUMBERLAND
CITY STATE ZIP
MT- HOLLY SPRINGS PA 17065-
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1) 41364 -22
2. Credits/Payments
A. Prior Payments 21500 -00
B.Discount 125-00
Total Credits(A+B) (2) 2,625- 00
3. Interest
(3) 0 .00
4. If Line 2 is greater than Line 1+Line 3,enter the difference.This is the OVERPAYMENT.
Fill in box on Page 2,Line 20 to request a refund. (4) 0 . 00
5. If Line 1 +Line 3 is greater than Line 2,enter the difference.This is the TAX DUE. (5) 11739 - 22
Make check payable to: REGISTER OF WILLS, AGENT.
a
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN"X"IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred . . . . . . . . . . . . . . . . . . . . . . . . ❑ ❑
b. retain the right to designate who shall use the property transferred or its income . . . . . . . . . X
c. retain a reversionary interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑
d. receive the promise for life of either payments,benefits or care? . . . . . . . . . . . . . . . . . . ❑
2. If death occurred after Dec. 12, 1982,did decedent transfer property within one year of death
without receiving adequate consideration? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑ FRI
3. Did decedent own an"in trust for"or payable-upon-death bank account or security at his or her death? ❑
4. Did decedent own an individual retirement account,annuity,or other non-probate property,which
contains a beneficiary designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑
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 Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent
[72 P.S.§9116 (a)(1.1)(ii)].The statute does not exempt a transfer to a surviving spouse from tax,and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1,2000:
• The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an
adoptive parent or a stepparent of the child is 0 percent[72 P.S.§9116(a)(1.2)].
• 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(a)(1)].
• The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent[72 P.S.§9116(a)(1.3)]. A sibling is defined,
under Section 9102,as an individual who has at least one parent in common with the decedent,whether by blood or adoption.
OM4671 2.000 '
REV-1508 EX+(08.12)
pennsylvania SCHEDULE E
DEPARTMENT OF REVENUE CASH, BANK DEPOSITS &MISC.
INHERITANCE TAX
RESIDENT DEC ENTTURN PERSONAL PROPERTY
ESTATE OF: FILE NUMBER:
Robert E. Powell 21 130649
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. 1984 GMC Suburban 2,178.00
appraised value (see attached appraisal) .
2 Comcast 9.90
refund due the decedent
3 Framed picture of a train and a framed lithograph
depicting Engine 959. 1,000.00
4 Household goods 2,573.00
sold at public auction by Rowe's Auction Service (see
attached report)
5 Refund due the decedent 1.97
TOTAL(Also enter on line 5,Recapitulation) $ 5,762.87
2w46AD 2.000 If more space is needed,use additional sheets of paper of the same size.
REV-1509 EX+(01-10)
pennsylvania SCHEDULE F
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN JOINTLY-OWNED PROPERTY
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
Robert E. Powell 21 130649
If an asset became jointly owned within one year of the decedent's date of death,it must be reported on Schedule G
SURMING JOINT TENANT(S)MME(S) ADDRESS RELATIONSHIP TO DECEDENT
A Bradley, Douglas 88 Cedar Street, Mt. Holly
Springs, PA 17065 None
B Turley, Jacqueline P 211 Zion Road, Mt. Holly Spings,
PA 17065 Daughter
C Warner, Sidney B 123 Tanglewood Lane, Lancaster, P
17601 None
JOINTLY OWNED PROPERTY:
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
REM FOR JOINT MADE INCLUDE NANE OF FINANCIAL INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR DATE OF DEATH DECEDENT'S VALUE OF
NUMT3ER TENANT JOINT IDENTIFYING NUMBER.ATTACH DEED FOR JOINTLY HELD REAL ESTATE. VALUEOFASSET INTEREST DECEDENI'SINTEREST
1 ABC 9/9/2002 Property known and numbered
as 136,000.00 25.0000 34,000.00
221 Zion Road, South
Middleton Township,
Cumberland County, Mt.
Holly Springs, PA 17065.
Decedent is 1/4 owner with
Jacqueline A. Turley,
Sidney B. Warner and
Douglas Bradley as joint
tenants. Appraised value
(see attached)
2 B 11/5/2009 PNC Bank, N.A. 14,192.70 50.0000 7,096.35
checking account
#5140189725
3 B 5/2/2011 PNC Bank, N.A. 5,994.78 50.0000 2,997.39
savings account #5112937159
TOTAL (Also enter on Line 6, Recapitulation) $ 44,093.74
9W46AE 2.000 If more space is needed, use additional sheets of paper of the same size.
REV-1511 EX-(10-09) SCHEDULE H
pennsylvania
DEPARTMENTOF REVENUE FUNERAL EXPENSES AND
INHERITANCE TAX RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Robert E. Powell 21 130649
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Cumberland Valley Memorial Gardens
inscription on headstone 499.00
B. ADMINISTRATIVE COSTS:
1. Personal Representative Commissions:
Name(s)of Personal Representative(s)
Street Address
City State ZIP
Year(s)Commission Paid:
2. Attorney Fees: Snelbaker & Brenneman, P.C. (Estimated) 2,693.75
3. Family Exemption:(If decedent's address is not the same as claimant's,attach explanation.)
Claimant
Street Address
City State ZIP
Relationship of Claimant to Decedent
4. Probate Fees: 163.50
5. Accountant Fees:
6. Tax Return Preparer Fees:
7.
1 Cumberland Law Journal
advertising Executors' Notice 75.00
2 Patriot News
advertise Executors' Notice 171.89
Total from continuation schedules . . . . . . . . . 1,485.55
TOTAL(Also enter on Line 9,Recapitulation) $ 5,088.69
9w46AG 2.000 If more space is needed, use additional sheets of paper of the same size.
Estate of: Robert E. Powell 21 13 0649
Schedule H Part 7 (Page 2)
3 Rowe's Auction Service
commission and fees on sale of household goods 985.55
4 Reserve
for filing fees and other miscellaneous costs
associated with the administration of the decedent's
estate 500.00
Total (Carry forward to main schedule) 1,485.55
REV-1512 EX+(12.12) SCHEDULE
Pennsylvania
DEPARTMENTOF REVENUE DEBTS OF DECEDENT,
INHERITANCE TAX RETURN MORTGAGE LIABILITIES& LIENS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Robert E. Powell 21 13 0649
Report debts incurred by the decedent prior to death that remained unpaid at the date of death,including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1• Century Link
phone service 61.73
2 Comfort Keepers
nursing care 779.55
TOTAL(Also enter on Line 10,Recapitulation) $ 841.28
2w46AH 2.000 If more space is needed,insert additional sheets of the same size.
REV-1513 EX+(01-10) SCHEDULE J
pennsylvania
DEPARTMENT OF REVENUE BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
Robert E. Powell 21 130649
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S)RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
TAXABLE DISTRIBUTIONS[Include outright spousal distributions and transfers under
Sec.9116(a)(1.2).j
1. Jacqueline P. Turley
211 Zion Road
Mt. Holly Spings, PA 17065
PNC Bank, N.A.
Inventory Value: 7,096.35
PNC Bank, N.A.
Inventory Value: 2,997.39
Property known and numbered as
Inventory Value: 11,333.32 Daughter 21,427.06
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER SHEET,AS APPROPRIATE.
I[ NON-TAXABLE DISTRIBUTIONS
A.SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN:
1.
B.CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS:
1.
TOTAL OF PART II-ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $ 0.00
9W46A1 2.000 If more space is needed,use additional sheets of paper of the same size.
Estate of: Robert E. Powell 21 13 0649
Schedule J Part 1 (Page 2)
Item
No. Description Relation Amount
2 Sidney B. Warner
123 Tanglewood Lane
Lancaster, PA 17601
Property known and numbered as
Inventory Value: 11,333.32 None 11,333.32
3 Adrienne R. Bohn
1346 W. Wyomissing Boulevard
West Lawn, PA 19609 Granddaughter 0.00
4 Michael Turley
230 N. Old Stonehouse Road
Carlisle, PA 17015 Grandson 0.00
5 Melissa Turley
230 N. Old Stonehouse Road
Carlisle, PA 17015 Granddaughter 0.00
6 Douglas Bradley
88 Cedar Street
Mt. Holly Springs, PA 17065
Property known and numbered as
Inventory Value: 11,333.32 None 11,333.32
7 Gabrielle E. Musket
104 Octagon Avenue
Sinking Springs, PA 19608 Granddaughter 0.00
- f," 3/2013 14:18 7173940543 JRLEONARDEQ PAGE 02
AMA
The Aosver of lfiehide IrAwynotian �Close Window
;��:.,>: h1ADAguldays.com 6/28/x013
1984 GMC C1500
1/2 Ton Suburban
NADAguides.com Price Report
Original low A rage High
MSRP Retail tail Retail
Base Price $10,368 $2,075 $4675 $6,900
options:
ADD-305/155 HP VB ENG 5% 5%
TOTAL PRICE $10,36 $2478 ,908 $7,245
Special notes:
There are no notes for this vehicle.
Value Explanation*
Prices shown are retail consumer values and to be considered as selling prices.Trade-in values are to be determined by
local dealers and are generally lower than values shown. Manufacturer Suggested Retail Price
Low Retail Value
This vehicle would be in mechanically functional condition, needing only minor reconditioning.The exterior paint,trim.and
interior would show normal wear,needing only minor reconditioning. May also be a deteriorated restoration or a very poor
amateur restoration.Most usable'as-is'.This value does M represent a'parts car'.
Note:Some of the vehicles In this publication could be considered'Daily DrI ers'and are not valued as a elemkic
vehicle.When determining a value for a daily driver,it is recommended that the subscriber use the low retail
value.
Average Ratalil Value
This vehicle would be In good condition overall_It could be an older restoration or a well-maintained original vehicle.
Completely operable.The exterior paint,trim,and mechanics are presentable and serviceable Inside and out.A'20-footer'.
High Retail Value
This vehicle would be In excellent condition overall. It could be a completely restored or an extremely well-maintained
original vehicle showing very minimal wear.The exterior paint,trim,and mechanics are not in need of reconditioning.The
Interior would be in excellent condition.
Note:This value does not represent a'100 Point'or'# 1'vehicle*.
* 1100 point'or'# I'vehicle Is not driven. It would generally be In a museum or transported in an enclosed trailer to
concourse judging and car shows.This type of car would be stored In a dimate-regulated facility.
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®Copyright 2013 National Appraisal Guides Inc.All Rghts Reserved.
b ROWE S AUC TION SERVICE (RH 79L)
---�-
2505 Ritner Highway • Carlisle, PA 17015 Dave Rowe (AU 2295L,
Bill Rowe (AU 1538L) 249-1978 215-1044 574-1008
Auction Is Action Call "Rowe" For Satisfaction 9 IW 7//3
SELLERS NAME u•- DATE
ADDRESS r2� ��^ PHONE
OTHER / M 206 AUCTIONEER %
AUCTION DATE/LOCATION CLERK %
DESCRIPTION OF MERCHANDISE 915-'00
�'U l' L, u�V/ �dr� ofs-eSS�✓ �//�/rr.-sue `� �e� / i zs S.rvr
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G K /�1 C "Y!/l. A ✓. Qt S n ac-LC .(�I
l.t/L 1.c G ..
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1 Commission the Auctioneers to sell the merchandise to the highest bidder by Public Auction. Merchandise
to be sold as is & ouped as necessary to obtain bids. I certify that I am the owner or authorized represen-
tative of th er andise,goods and o operty and have good title and the right to sell and that they are free
from all i m ances. I ee to a all responsibility for providing merchantable title and for delivery of
title to t p haler. gree of armless the Auctioneers against any claims of the nature referred to in
this a e t.
AJCTION S TURE _ S LLERS SIGNA U,It F�
Total Sales (Clerking Tickets Attached) $ 3 6/
Less Sale Expense:
5g
% Commission Auctioneer $ a o
%Commission Clerks $
OTHER:
'S
TOTAL SALE EXPENSE DEDUCTED $
SELLERS NET $ S^
SUMMARY APPRAISAL REPORT
221 ZION ROAD
MT. HOLLY SPRINGS, PENNA.
PREPARED FOR
SIDNEY B. WARNER
BY
LARRY E. FOOTE
DIVERSIFIED APPRAISAL SERVICES
35 EAST HIGH STREET, SUITE 101
CARLISLE, PENNSYLVANIA
17013-3052
(717)249-2758
COPY
K @81 tsfar@ APPMINUM enu'-'J11QL11L0 &Q Carlisle,PA 17013-3052
(717)249-2758
FAX(717)258-0701
June 13,2013
TO: Sidney B. Warner
FM: Larry E. Foote
RE: Summary Appraisal Report
Residential Property
221 Zion Road
Mt. Holly Springs, Pennsylvania
At your request.,I have appraised the captioned property. The appraisal report,which
follows this letter,is submitted in support of my opinion of Market Value of the Fee Simple
Interest in the property, as of May 30,2013.
I hereby certify that,to the best of my knowledge and belief, the data, facts, and
opinions set forth therein, are accurate, subject to the Statement of Assumptions and Limiting
Conditions that is also:made a part of the report, and that the indicated Market Value of the
subject property, as of May 30,2013 is:
ONE HUNDRED THIRTY-SIX THOUSAND DOLLARS
$136,000
This appraisal has been made in conformity with the standards of professional practice
of the National Association of Realtors Appraisal Section. I appreciate your having considered
me for this assignment and trust that you find the report entirely satisfactory.
Respectfully submitted,
Larry E. Foote
Pa. Certified General Appraiser
GA-000014-L
2
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
LOCATION: 221 Zion Road
Mt. Holly Springs,Pennsylvania
TAX PARCEL NUMBER.: 40-32-2338-001
IMPROVEMENTS: One-story detached single-family dwelling with a
detached two-car garage..
PROPERTY RIGHTS: Fee simple interest.
OWNERSHIP HISTORY: The subject property is owned by Robert E. Powell, et al.
The property last transferred on September 9, 2002 for a
reported consideration of$1.00 and ownership conveyed
on Deed Book 253, Page 2567.
SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the
subject's area, an inspection of the subject property, an
estimation of the property's highest and best use,
consideration of all three approaches to value, and the
application of those relevant to the valuation of the
subject.
CLIENT: Sidney B. Warner.
INTENDED USER: Sidney B. Warner.
OBJECTIVE: To estimate the market value of the subject property as
unencumbered.
EFFECTIVE DATE: May 30,2013.
INSPECTION DATE: May 30,2013.
HIGHEST AND BEST USE: Continued use as a single-family residence.
COST APPROACH: N.A.
SALES APPROACH: $136,000
INCOME APPROACH: N.A.
FINAL VALUE CONCLUSION: $136,000
3
THE VALUATION PROCESS
The valuation process is defined in The Appraisal of Real Estate as published by the
Appraisal Institute,as"a systematic set of procedures an appraiser follows to provide answers
to a client's questions about real property value."
It consists of a series of steps that are appropriate to a specific and particular appraisal
assignment that begins with a client engaging a real estate appraiser to develop an opinion of
value for a specific property as of a given effective date and ends when the appraiser
communicates and reports the final conclusions and opinions to the client.
Definition of the Appraisal Problem:
The first step in the appraisal process includes the presentation of the following:
1. Identification of the client,the intended use, and the intended users of the appraisal
report.
2. The purpose of the appraisal, including a definition of the value being reported.
3. Determination of the effective date of the appraisal report.
4. Extraordinary assumptions that are applicable to the appraisal assignment.
5. Hypothetical conditions that are applicable to the appraisal assignment.
I
Scope of Work:
Scope of work is defined in the Uniform Standards of Professional Practice as being
"the type and extent of research and analyses in an assignment." This includes the degree and
extent of research and the data that is deemed as necessary to develop a credible opinion of
value for the property being appraised.
Data Collection and Analysis:
The appraiser must gather and analyze market area data, subject property data, and
comparable property data that is relative and relevant to the appraisal assignment.
Development and Application of Traditional Approaches to Value:
I
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
j 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
4
procedures, rather, it involves the exercise of judgment, and the value conclusion reached must
be consistent with market thinking.
5
APPRAISAL CERTIFICATION
I hereby certify that upon application for valuation by:
SIDNEY B. WARNER
the undersigned personally inspected the following described property:
All those certain pieces or parcels of land, with the improvements thereon erected,
situate in South Middleton Township, Cumberland County, Pennsylvania, bounded and
described as follows:
TRACT NO. 1: Beginning at a stone in road leading to Craighead Station on G. &
H.R.R.;thence South 84'/2 degrees West 37.4 perches along line now or formerly of lands of
Henry Mclaughlin to a stone;thence South 8'/z degrees West 4.2 perches along land now or
formerly of Given&Mullin to a stone; thence South 88%2 degrees East 35.5 perches along
lands now or formerly of Given&Mullin to a stone on road to Craighead Station;thence along
said road North 143/4 degrees East 9.1 perches to the place of beginning. Containing 1 acre 73
perches.
TRACT NO. 2: Beginning at a point in the center of Township Road No. 520, also
known as Zion road at the Southeastern comer of lands now or formerly of Robert e. and Edna
M.Powell;thence by the center of said road, South 21 degrees 55 minutes West 80 feet to a
point;thence by land now or formerly of the said Powell,North 77 degrees 1 minute 20
seconds West 262.26 feet to a point;thence by land now or formerly of Hempt Brothers,Inc.,
North 25 degrees 23 minutes East 60 feet to an iron pin;thence by said other land now or
formerly of the said Powell, South 81 degrees 29 minutes East 262.6 feet to the place of
beginning. Containing.411 acre.
To the best of my knowledge and belief the statements contained in this report are true
and correct, and that neither the employment to make this appraisal nor the compensation is
contingent upon the value reported, and that in my opinion the Market Value as of May 30,
2013 is:
ONE HUNDRED THIRTY-SIX THOUSAND DOLLARS
$136,000
The property was appraised as a whole, subject to the contingent and limiting conditions
6
outlined herein.
Larry E. Foote
Pa. Certified General Appraiser
GA-000014-L
7
INTENDED USE OF THE APPRAISAL
The intended use of this appraisal is to estimate the Market Value of the subject
property as of May 30, 2413.
Market Value is defined as the most probable price which a property should bring in a
competitive and open market under all conditions requisite to a fair sale, the buyer and seller,
each acting prudently, knowledgeably and assuming the price is not affected by undue
stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the
passing of title from seller to buyer under conditions whereby:
a. Buyer and seller are typically motivated.
b. Both parties are well informed or well advised, and each acting in what
he considers his own best interest.
c. A reasonable time is allowed for exposure in the open market.
d. Payment is made in terms of cash in U.S. dollars or in terms of financial
arrangements comparable thereto.
e. The price represents the normal consideration for the property sold
unaffected by special or creative financing or sales concessions granted
by anyone associated with the sale.
Source: Office of the Comptroller of the Currency, 12 CFI §34.42(f).
HIGHEST AND BEST USE
Highest and Best Use is defined by the Appraisal Terminology and Handbook,
published by the Appraisal Institute, as "the most profitable likely use to which a property can
be put". The opinion of such use may be based on the highest and most profitable continuous
use to which the property is adapted and needed, or likely to be in demand, in the reasonable
near future.
However, elements affecting value that depend upon events or a combination of
occurrences which, while within the realm of possibility, are not fairly shown to be reasonably
probable, should be excluded from consideration. Also, if the intended use is dependent on an
uncertain act of another person,the intention cannot be considered.
Based on the above definition and after seeing the site, neighborhood, and area, it is my
opinion that the present use of the subject is its Highest and Best Use.
8
OWNERSHIP HISTORY
The subject property is owned by Robert E. Powell, et al. The property last transferred
on September 9, 2002 for a reported consideration of$1.00 and ownership conveyed on Deed
Book 253,Page 2567.
ESTIMATED MARKETING TIME
The reasonable marketing time is an estimate of the amount of time that it would take to
sell a property at the estimated market value during the period of time immediately after the
effective date of the appraisal assignment. It is estimated that if the subject property were
offered for sale at the indicated Market Value, a reasonable marketing time would be six to
twelve months. This estimate is based upon quarterly sales figures published by Central Penn
Multi List, Inc.
ECONOMIC TRENDS
Historically, property values for similar properties have steadily increased, with
vacancy rates remaining stable. However, 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.
EXPOSURE TIME
The length of time the property being appraised would have been offered on the market
prior to the hypothetical consummation of a sale at the market value on the effective date of the
appraisal. Exposure time is presumed to precede the effective date of the appraisal. The
reasonable exposure period is a function of price,time and use. It is not an isolated opinion of
time alone. Exposure time is different for various types of property and under various market
conditions. It is a retrospective opinion based on an analysis of past events, assuming a
competitive and open market. It assumes not only adequate, sufficient and reasonable time but
adequate,sufficient and a reasonable marketing effort. Exposure time and conclusion of value
are therefore interrelated. Based upon the information presented in this report, a reasonable
exposure time for the subject property is estimated to be six to twelve months.
9
SITE DATA
ADDRESS: 221 Zion Road
TOWNSHIP: South Middleton
COUNTY: Cumberland
STATE: Pennsylvania
LOT SIZE: 1.87 acres.
SEWERS: On-site septic system.
WATER: Public utility.
ELECTRICITY: Met-Ed
LANDSCAPING: Typical for the area,with a sodded lawn,trees and shrubs.
DESCRIPTION OF IMPROVEMENTS
GENERAL DESCRIPTION: One-story detached single-family dwelling containing approxi-
mately 1,152 square feet of gross living area above grade.
CONDITION: Exterior: Average
Interior: Average
ROOMS: First Floor: Living room,eat-in kitchen, dining room, two bedrooms
and a full bathroom.
Basement: One-half, with dirt floor.
EXTERIOR: Foundation: Concrete block.
Walls: Aluminum siding.
Sash: Wood-framed, single-glazed.
Gutters: Aluminum,painted.
Roof. Gable, with shingles.
Storm units: Combination storm and screen units.
INTERIOR, PRINCIPAL ROOMS: Flooring: Carpet
Walls: Drywall
Ceilings: Drywall
Trim: Wood,painted or natural finish.
10
KITCHEN: . Cabinets: Wood, stained and varnished.
Counters: Laminate
Walls: Wood paneling.
Flooring: Vinyl
Sink: Double-bowl, stainless steel.
BATHROOM: Flooring: Vinyl
Walls: Laminate and painted drywall.
Bathtub: Built-in,with shower.
Lavatory: Vanity
Water closet: Two-piece.
Medicine cabinet: Built-in.
CONSTRUCTION: Joists: Wood
Beams: Wood
plumbing: Copper and cast iron.
HEATING: Baseboard electric.
HOT WATER: Electric
ELECTRIC: Circuit breaker system,200-ampere.
OAR: There is a brick fireplace located in the living room. Attached to the
front of the dwelling is a covered porch, and attached to the rear of the dwelling is a covered
porch and an enclosed porch. Also located on the site is.a 24'x36' one-story detached two-car
garage with storage area and a small wooden storage building..
GENERAL CONDITION: All improvements are considered to be in average condition on the
interior and on the exterior, with mechanical systems appearing to be adequate and functioning
properly.
11
THE APPRAISAL PROCESS
Three approaches to value are generally included in an appraisal report. These
techniques include the cost approach, sales comparison approach, and income approach to
value.
The cost approach to value is based on the assumption that the
reproduction cost of a building plus land value, tends to set the upper limit to value. A key
assumption is that a newly constructed building would have advantages over the existing
building, therefore an evaluation focuses upon disadvantages or deficiencies (depreciation) of
the existing building compared to 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 normal conditions, a given
number of parties acting intelligently and voluntarily, tend to set a pattern from which value
can be estimated. Application of this approach relies on a comparison. of the subject with a
sufficient number of recent transactions of comparable properties in the market, based on a
common unit, such as price per square foot of building area.
The income approach concerns itself with present worth of the firture potential benefits
of a property. The initial estimate involves the net income, which a fully informed person is
justified in assuming the property will produce during its remaining useful life. This estimated
net income is then capitalized into a value estimate, based upon the level of risk as compared
with that of a similar type and class. Since homes similar to the subject are not typically
utilized as income-producing investment properties;the income approach to value is considered
to be inappropriate and has, therefore, not been included in the development of this appraisal
report.
12
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: 215 W. Pine Street,Mt.Holly Springs,
Date of Sale: September 30,2012.
Sale Price: $117,650
Size: 1,461 square feet.
Unit Price: $80.53 per square foot.
SALE NO. 2:
Location: 205 Pine Road, Mt. Holly Springs.
Date of Sale: February 1,2012.
Sale Price: $114,000
Size: 1,364 square feet.
Unit Price: $83.58 per square foot.
SALE NO. 3:
Location: 13 W. Springville Road,Boiling springs.
Date of Sale: October 23,2011.
Sale'Price: $140,000
Size: 1,493 square feet.
Unit Price: $93.77 per square foot.
The appraiser, in addition to the sales listed, also considered several additional sales in
arriving at his final opinion of value. On the Sales Comparison Analysis form that follows this
page are dollar adjustments reflecting market reaction to those items of significant variation
between the subject and comparable properties. If a significant item in the comparable
property is superior to, or more favorable than, the subject property, a minus (-) adjustment is
made,thus reducing the indicated value of the subject; if a significant item in the comparable is
inferior to, or less favorable than, the subject property, a plus (+) adjustment is made, thus
increasing the indicated value of the subject.
After making all of the necessary adjustments, it is the appraiser's considered opinion
that the indicated value of the subject property by the Sales Comparison Approach is $136,000.
13
SALES COMPARISON ANALYSIS
ITEM SUBJECT COMPARABLE #1 COMPARABLE #2. COMPARABLE #3
221 Zion Road 215 W.Pine Strut 205 Pine Road 13 W.Springville Road
Address Mt Holly Springs Mt.Holly Springs Mt.Holly Springs Boiling Springs
Proximity to Subject 1.55 miles 2.79 miles 3.75 miles
Sale Price N.A. $117,650 $114,000 $140,000
Price/Sq.Ft.GLA N.A. 7DE $83.58 $93.77
Data Source Inspection &Central Penn MLS Courthouse&Central Penn MU; Courthouse&Central Penn MLS
ADJUSTMENTS DESCRIPTION TION $ Adjust. DESCRIPTION $Adjust. DESCRIPTION $Adjust.
Sales or Financing p . ,500 of Seller pd.$6,0 00 of Seller pd.$3,481 of
Concessions buyer's closing costs -3,500 buyer's closing costs -6,000 buyer's closing costs -3,500
Date of Sale/Time lAvcmgc 5-30-13 9-30-12 2=1-12 10-23-11
Location Similar Similar Similar
Site/View . acres .28 acre +5,000 .32 acre +5,000 .29 acre +5,000
Design and Appeal One-story detached Similar Similar Similar
Construction Aluminum siding Vinyl siding Vinyl siding Wood siding +3,000
Age 113 years 63 years 66 years 78 years
Condition Average Inferior +5,000 Similar Similar
Above Grade Tot. Bed. Bath Tot. Bed. Bath Tot. Bed. Bath Tot. Bed. Bath
Room Count 5 2 1 b 3 1 -2,000 6 2 1 -2,000 6 3 1% -3,000
Gross Living Area 1,152 square feet 1,461 square feet -9,300 1,364 square feet -6,400 1,493 square feet -10,200
Basement&Finished Full basement,with
Rooms Below Grade Partial basement Full basement -1,000 Full basement -1,000 fam.rm.&den -3,000
Functional Utility Average Similar Similar Similar
Heating/Cooling Baseboard electric Oil-fired hot air Oil FHA w loon.AC -2,000 Baseboard electric
Garage Carport 2-car garage w/stor. None +20,000 None +20,000 One-car garage +15,000
Porehes,.Patios Two porches,encl.
Pools,etc. porch,stor.bldg, Porch,. aUio +3,000 Porch,wood deck +3,000 Porch wood deck +3,000
Special Energy Typical for the
Efficient Items region. Similar Similar Similar
Fireplace(s) Fireplace None +1000 None +1(100 Woodburning stove
Other(e.g.kitchen
equip.,remodeling) Built-ins. Similar Similar Similar
Net Ad'. total -;718-.200 +11"500 +6,300
Indicated Value
of sub'ect 135,850 125,600 146,300
FINAL INDICATED VALUE OF SUBJECT PROPERTY: $136,000
14
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 $136,000
Value Indicated by Income Approach . N.A.
These approaches are representative of the market value of the subject property. I have
carefully reexamined each step in each method, and I believe the conclusions accurately reflect
the attitude of typical purchasers of this type property in this neighborhood. It is my belief that
this reexamination has confirmed the original conclusions.
The Cost Approach will result in an excellent estimate if all elements are figured
accurately, because no prudent person will pay more for a property than. the cost to produce a
substitute property with equal desirability and utility. Purchasers of the type of dwelling
typical of the subject property are more concerned with amenities than with hypothetical
replacement of the property. Due to the age of the subject improvements,the Cost Approach is
i
considered to be inappropriate and has not been included in this appraisal report.,
The Sales Comparison Approach was based on several recent sales of properties similar
to that of the subject, all of which are located in the same general area. The adjusted sales
prices are most consistent under comparison. This approach is the most reliable because Jt
reflects the reactions of typical buyers and sellers in the market.
The Income Approach is most applicable to income producing properties or properties
that are primarily utilized for income producing purposes. Purchasers of income producing
i properties are willing to pay no more for a particular property than the net,operating income
Iwill support. Since the majority of properties similar to the subject are not utilized for income
producing purposes,this approach to value has not been included in this appraisal report.
Therefore, as a result of this appraisal and analysis, it is this appraiser's considered
judgment and opinion that the Market Value of the subject property, as of May 30,2013,is:
ONE HUNDRED THIRTY-SIX THOUSAND DOLLARS
$136,000
15
UNDERLYING ASSUMPTIONS AND LIMITING
CONDITIONS SUBJECT TO THIS APPRAISAL
1. 1 assume no responsibility for matters legal in nature, nor do I render any opinion as to
the title, which is assumed to be marketable. The property is appraised as though under
responsible ownership.
2. The legal description used herein is correct.
3. I have made no survey of the property, and the boundaries are taken from records
believed to be reliable.
4. 1 assume that there are no hidden or unapparent conditions of the property, subsoil or
structures which would render it more or less valuable. I assume no responsibility for
such conditions or for engineering which might be required to discover such factors.
5. The information, estimates, and opinions furnished to me and contained in this report
were obtained from sources considered reliable and believed to be true and correct.
However,no responsibility for accuracy can be assumed by me.
6. This report is to be used in its entirety and only for the purpose for which it was
rendered.
7. Neither all nor any part of the contents of this report (especially any conclusions as to
value, the identity of the appraiser or the firm with which he is connected) shall be
reproduced, published, or disseminated to the public through advertising media, public
relations media,news media, sales media, or any other public means of communication,
without the prior written consent and approval of the appraiser.
8. This appraisal was prepared under the extraordinary assumption that any easements or
rights of way of record have no adverse impact upon the highest and best use or value
herein.reported. A title search was not requested nor included in the scope of work for
this assignment.
9. This appraisal was prepared for the exclusive use of the client identified in this appraisal
report. The information and opinions contained in this appraisal set forth the
appraiser's best judgment in light of the information available at the time of the
preparation of this report. Any use of this appraisal by any other person or entity, or
any reliance or decisions based on this appraisal are the sole responsibility and at the
sole risk of the third party. The appraiser accepts no responsibility for damages
suffered by any third party as a result of reliance on or decisions made or actions taken
based on this report.
16
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. l have no bias with respect to the property that is the subject of this report or to the
i parties involved with this assignment.
5. My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
b. My compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors the
cause of the client, the amount of the value opinion,the attainment of a stipulated result,
or the occurrence of a subsequent event directly related to the intended use of this
appraisal.
7. My analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the Uniform Standards of professional Appraisal Practice.
i
8. I have made a personal inspection of the property that is the subject of this report.
9. No one provided significant real property appraisal assistance to the person sign-
ing this certification.
I
Larry E. Foote
Pa. Certified General Appraiser
GA-444014-L
17
i
PRIVACY NOTICE
Pursuant to the Vim-Leach-Billey Act of 1999,effective July 1,2001, appraisers,
along with all providers of personal financial services are now required by federal law to
inform their clients of the policies of the firm with regard to the privacy of client nonpublic
personal information. As professionals,we understand that your privacy is very important to
you and are pleased to provide you with this information.
In the course of performing appraisals,we may collect what is known as"nonpublic
personal information"about you. This information is used to facilitate the services that we
provide to you and may include the information provided to us by you directly or received by
us from others with your authorization.
We do not disclose any nonpublic personal information obtained in the course of our
engagement with our clients to nonaffiliated third parties,except as necessary or as required,by
law. By way of example,a necessary disclosure would be to our independent contractors, and
in certain situations,to unrelated third parry consultants who need to know that information to
assist us in providing appraisal services to you. All of our independent contractors and any
third party consultants we engage are informed that any information they see as part of an
appraisal assignment is to be maintained in strict confidence within the firm. A disclosure
required by law would be a disclosure by us that is ordered by a court of competent jurisdiction
with regard to a legal action to which you are a party.
We will retain records relating to professional services that we have provided to you for
a reasonable time so that we are better able to assist you with your needs. In order to protect
your nonpublic personal information from unauthorized access by third parties, we maintain
physical, electronic and procedural safeguards that comply with our professional standards to
insure the security and integrity of your information.
18
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,office
buildings, service stations,veterinary clinics,rehabilitation centers,retail buildings,daycare centers,
warehouses,and manufacturing facilities.
EDUCATION:
Bachelor.of Business Administration,Pennsylvania State University, 1976.
Associate Bachelor of Business Administration,Harrisburg Area Community
College, 1974.
Diploma,Carlisle Senior High School, 1965.
Certificate,Pennsylvania Realtors Institute,GRI I,GRI II, GRI III.
Certificate,Realtors National Marketing Institute,Cl 101,CI 102,CI 103,CI 104,
CI 105.
Standards of Professional Practice,American Institute of Real Estate Appraisers.
Real Estate Appraisal Principles,American Institute of Real Estate Appraisers.
Residential Valuation,American Institute of Real Estate Appraisers.
Appraisal Procedures,Appraisal Institute.
Principles.of Income Property Appraising,Appraisal Institute.
Case Studies in Real Estate Valuation,Appraisal Institute.
Report Writing and Valuation Analysis,Appraisal Institute.
PROFESSIONAL LICENSES:
General Appraiser#GA-000014-L,Commonwealth of Pennsylvania.
Real Estate Broker#RB-029729-A,Commonwealth of Pennsylvania.
PROFESSIONAL DESIGNATIONS EARNED:
GRI: Graduate of the Pennsylvania Realtors Institute,awarded by the Pennsyl-
vania Association of Realtors.
CRS: Certified Residential Specialist,awarded by the Realtors National Market-
ing Institute of the'National Association of Realtors.
CCIM: Certified Commercial Investment Member,awarded by the Realtors
National Marketing Institute of the National Association of Realtors.
PROFESSIONAL ORGANIZATION AFFILIATIONS:
National Association of Realtors Appraisal Section.
Greater Harrisburg Association of Realtors.
Pennsylvania Association of Realtors.
National Association of Realtors.
Realtors National Marketing Institute.
19
PAST CLIENTS: American Home Bank
Borough of Carlisle Trans Union
Keystone Financial Mortgage M&T Mortgage Corporation
Cornerstone Federal Credit Union
Cody Financial Mortgage Services
Pennsylvania State Bank ;
C Waypoint Bank
Commerce Bank
Cumberland-Perry Association for Retarded Citizens Blue National Bank
Carlisle Suburban Authority
Members V 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 Mortgage Corporation
Washington Mutual Home Loans,Inc.
Prudential Relocation Services
Lender's Choice
Market Intelligence,Incorporated
United Telephone Employees Federal Credit Union
Cumberland County Commissioners
Allstate Enterprises Mortgage Corporation
Dickinson College
PPG Industries,Incorporated
Gettysburg College
Redevelopment Authority of Cumberlan d County
Record Data Appraisal Services,Incorporated
First United Federal Savings Association
Fulton Bank
United States Marshall Service
GMAC Mortgage Corporation
Orrstown Bank
Letterkenny Federal Credit Union
BancPlus Mortgage Corporation
Coldwell Banker Relocation Services,Incorporated
Central Pennsylvania Savings Bank
Mellon Bank
Provident Home Mortgage Corporation
Drovers Bank
20
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25
r, a
LAST WILL AND TESTAMENT
I, ROBERT E. POWELL, of the County of Cumberland and Commonwealth of
Pennsylvania, hereby declare this to be my Last Will and revoke all Wills that I have
previously made.
FIRST: I direct that the debts, which I am legally obligated to pay, and
the expenses of my last illness and funeral be paid as soon as practicable after my
death.
SECOND: I give those articles of my household furniture and furnishings
and those articles of my personal effects and personal property as set forth in the
separate memorandum located with this Will to the persons named in that
memorandum.
THIRD: I give.the entire residue of my estate, of whatever nature and
wherever situate, to my wife, EDNA M. POWELL, provided she survives me.
FOURTH: In the event my wife, EDNA M. POWELL, does not survive me,
I direct that my herein named executors hold public sale, and the residue of my
estate shall be divided as follows:
A. I give my granddaughter, GABRIELLE E. MUSKET,
currently residing in Rehrersburg, Pennsylvania, One
Thousand ($1,000.00) Dollars.
B. I give my granddaughter, ADRIENNE R. BOHN, currently
residing in Reading, Pennsylvania, One Thousand
($1,000.00) Dollars.
C. I give my granddaughter, MELISSA TURLEY, One
Thousand ($1,000.00) Dollars.
D. I give my grandson, MICHAEL TURLEY, One Thousand
($1,000.00) Dollars.
E. I give the residue of any account with Prudential Securities
to SIDNEY B. WARNER.
F. The residue of my estate shall be divided equally between
JACQUELINE A. TURLEY and SIDNEY B. WARNER. The
surviving spouse of a deceased beneficiary to take the share
that the beneficiary would have received, if living.
FIFTH: I appoint JACQUELINE A. TURLEY and SIDNEY B.
WARNER, Co-Executors of this Will. Should they for any reason, fail to qualify or
cease to act as such during the administration of my estate, I appoint, DOUGLAS
BRADLEY, Executor of this Will, to act with the same duties, powers and discretions
as if originally appoint. No fiduciary acting under this Will shall be required to enter
bond or furnish sureties in any jurisdiction.
SIXTH: My Executors and their successors shall have the following
powers, in addition to those given by law to be exercised in their sole discretion: To
invest in any real or personal property without restriction to legal investments; to
repair, alter, improve or lease, for any period of time, any real or personal property;
to sell at public or private sale any real or personal property; to compromise claims;
and to make distribution in kind.
SEVENTH: I order and direct that all Pennsylvania inheritance tax and
Federal Estate Tax, if any, that may become due and payable as the result of my
death, whether or not assets subject thereto pass under the terms of this my Last
Will and Testament, shall be paid out of the residue of my estate.
IN TESTIMONY WHEREOF, I, ROBERT E. POWELL., have hereunto set my
hand and seal to this my Last Will and Testament, consisting of two (2) pages, at
Mount Holly Springs, Pennsylvania, on the 9th day of September 2002.
(SEAL)
Robert E. Powell
SIGNED, SEALED, PUBLISHED AND DECLARED by the above names
Testator, as and for his Last Will and Testament, in the presence of us who have
hereto signed our names as witnesses, at his request, in the presence of said
Testator, and the resence of each other.
siding at
J � -
ing at
-----*J'/)
MEMORANDUM — Robert E. Powell
1. Curio cabinet in living room and all items in the curio cabinet I give to
Sidney Warner.
2. My jewelry shall be divided between Jacqueline Turley, Gabrielle Musket,
Adrienne Bohn and Melissa Turley, as they may agree.
3. The grandfather clock I give to Gregory Warner, Jr.
4. Jewel T Dish set I give to Jacqueline Turley
5. China and silverware I give to Sidney Warner.
6. Safe and coin collection I give to Sidney Warner.
7. Any vehicles I may own I give to Douglas Bradley.
8. Dining Room Set (includes table, six chairs, hutch, dry sink and corner
cupboard) I give to Jacqueline Turley.