HomeMy WebLinkAbout05-05-14 J 1505610143
R�V-1500 EX(01-10) � ;
OFFICtAL USE ONLY
PA Department of Revenue pennsylvania coun�y code vear File Number
Bureau of Individual Taxes ce"""T"�"r°F"E!'E"°E
PO Box.2sosol INHERITANCE TAX RETURN 21 13 102 9
Harrisbur9,PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
09 .10 2013 03 09 1966
Decedent's Last Name Suffix DecedenYs First Name M�
WAGNER GRAY D
(If Applicable)Enter Surviving Spouse's Information Below
Sp�use's Last Name Su�x Spouse's First Name N1�
WAGNER DENISE A
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
a 1. Original Return � 2. Supplementai Retum � 3. Remainder Retum(date of death
prior to 12-13-82)
� 4. Limited Estate � qa.Future Interest Compromise � 5. Federal Estate Tax Return Required
(date of dealh afler 12-12-82)
6 Decadent Died Testate �. Decedent Maintained a Living Trust � 8. Total Number of Safe Deposit Boxes
(Attach Copy of Wilp ❑ (Altach Copy of Trust)
� 9. Litigalion Proceeds Received � 10.Spousal Pover�V Credit,�date of death 1�.Elec6on to tax under Sec.9113(A)
between 12-31 91 and -1-95) (Att2Ch SCh.O)
n .
CORRESPONDENT-THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATIOI�I�SHOULD BE CTED TO�
Name Daytime TelephorLe-Number s � t'r'1
o i'n c^�
BRADLEY L GRIFFIE 717 243 ��. � �'' o
;-n --r' � —c c,f� �
r ....� c:+
REGISTER OF V�lJLI.�U��ONt.)fi `:� �i
., � . , r"�.. :�
First line of address � � � � �R.� 'T1
2 0 0 NORTH HANOVER S TREE •``� �� ^� �
:o rv r m
-� —I r o
Second line of address �. �' � -,�
U7
DATE FILED
City or Post Office State ZIP Code
CARLISLE PA 17013
Correspondent's e-mail address: bgriffie@griffielaw.com
Under penalties of perjury,I declare that I have examined this retum,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 personai representative is based on all information of which preparer has any knowledge.
SIGNATU E OF PERSON RESPONSIBLE FOR FILING RET N DATE
� Saliy A.wa ner `l I '
ADD SS
2328 Ritner Hi hwa Carlisle PA 17015
S E�R�HER I AN REPRESENTATIVE DATE
� �� :��� Bradley L Griffie �
�ADDRESS � %� � �.�` :
(_ - � -� �
200 Nort�i Hanover Street, Carlisle, PA
Side 1
� 150561�143 15�5610143 �
N
��
� 1505610243
REV-1500 EX
DecedenYs Sociai Security Number
Decedent'sName: Wagner� Gray D.
RECAPITULATION
1. Real Estate(Schedule A)....................................................................................... 1.
2. Stocks and Bonds(Schedule B)............................................................................. 2.
3. Closely Held Corporation,Partnership or Sole-Proprietorship(Schedule C)......... 3.
4. Mortgages&Notes Receivable(Schedule D)........................................................ 4.
5� Cash, Bank Deposits&Miscellaneous Personal Property(Schedule E)............... 5. 7 , 012 . 22
6. Jointly Owned Property(Schedule F) ❑ Separate Billing Requested............ 6. 402 . 50
7. Inter-Vivos Transfers&Miscellaneous N�,-Probate Property
(Schedule G) U Separate Billing Requested............ 7. 0 . 00
8. Total Gross Assets (total Lines 1-7)..................................................................... g. 7 , 414 . 72
9. Funeral Expenses&Administrative Costs(Schedule H)....................................... 9. 12 , 544 . 66
10. Debts of Decedent, Mortgage Liabilities,&�iens(Schedule I).............................. 10. 4 , 68$ . 12
11. Total Deductions(total Lines 9&10)................................................................... 11. 17 �232 . 78
12. Net Value of Estate(Line 8 minus Line 11).......................................................... 12. -9, 818 . 0 6
�3. Charitable and Governmental Bequests/Sec 9113 Trusts forwhich
an election to tax has not been made(Schedule J)............................................... 13.
14. Net Value Subject to Tax(Line 12 minus Line 13)............................................... 14. -9, 818 . �6
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 0 . 0 0 15. 0 . 0 0
16. Amount of Line 14 taxable
at lineal rate X .045 0 . 0 0 16. 0 . 0�
17. Amount of Line 14 taxable
at sibling rate X.12 � . �� 17. � . 0 0
18. Amount of Line 14 taxable
at collateral rate X.15 0 . 0� 18. 0 . ��
19. Tax Due.................................................................................................................. 19. 0 . 00
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT. �
Slde 2
� 1505610243 1505610243 J
REV-1500 EX Page 3 File Number 21-13-1029
DecedenYs Complete Address:
DECEDENT'S NAME
Wagner, Gray D.
STREET ADDRESS
114 Green Hill Road
CITY STATE ZIP
Newville PA 17241
Tax Payments and Credits:
1. Tax Due(Page 2, Line 19) (1) 0.00
2. Credits/Payments
A. Prior Payments
B. Discount 0.00
Total Credits(A +B) (2) 0.00
3. Interest (3)
4, If Line 2 is greater than Line 1 +Line 3,enter the difference. This is the OVERPAYMENT. (4)
Check box on Page 2 Line 20 to request a refund
5. If Line 1 +Line 3 is greater than Line 2,enter the difference. This is the TAX DUE. (5) 0.��
Make Check Pa able to: REGISTER OF WILLS, AGENT.
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred:............................................................................... ❑ ❑x
b. retain the right to designate who shall use the property transferred or its income:.................................. ❑ ❑x
c. retain a reversionary interest;or............................................................................................................... ❑ ❑X
d. receive the promise for life of either payments,benefits or care?............................................................ ❑ 0
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without
receiving adequate consideration?.................................................................................................................... ❑ ❑x
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 ❑ ❑
containsa 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 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 decedenYs 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,whether by blood or adoption.
REV-1197(5-13)
� pennsylvania SCHEDULE AU
DEPARTMENT OFREVENUE
BUREAUOFINDIVIDUALTAXES AGRICULTURAL USE
INHERIfANCE TAX DIVISION EX E M PTI O N S
PO BOX z8o6o1
HARRISBURG PA i�i�8-06oi
ESTATE OF: Gray D. Wagner FILE NUMBER: 21-13-1029
Use this schedule to report real estate for which you claim an exemption from inheritance tax under the "Farmland - Other"
Exemption (72 P.S. § 9111(s.1)) or the "Business of Agriculture" Exemption (72 P.S. § 9111(s)). Check the box below next
to the exemption you are claiming (select only one):
❑ Business of Agriculture Exemption � Farmland - Other Exemption
Complete Parts 1 and 2 of this form. Agricultural Conservation Easement; Agricultural
Reserve; Agricultural Commodity; Agricultural Use
Property; or Forest Reserve (Definitions on back of
form). Complete Part i and check the applicable
category on the back of this form.
Attach a written statement explaining in detail how the real estate qualifies for the claimed exemption. In addition, if you
are claiming an exemption for any structure affixed to the real estate, identify the structure and explain in detail how each
structure qualifies for the claimed exemption. Structures affixed to the real estate that do not qualify for an exemption must
be valued and reported on Schedule A to the Inheritance Tax Return. Please also attach all supporting documents with the
written statement, including the county assessment card. Failure to provide this information may result in a denial of the
claimed exemption or a delay in processing your return.
P1�F��'T��� ��, `�TY°��4R�±1�4�+��I ���
Property Parcel Identification Number: 46-08-0589-021
Percentage of Parcel Exempted: 100%
Date of Death value under 72 P.S. § 9121: $679,000.00 (appraisal attached)
Physical Location: 114 Green Hill Road Newville Cumberland
STREET ADDRESS(DO NOT REPORT P.O. BOX) CITY COUNTY
���"� �� - ` �� ;��)'� �f�' ' ��#'I'�+�J[N
Provide the name and mailing address of all transferees of the real estate listed above (attach additional sheets if necessary):
Hope P. Prutzmann Sister
OWNER NAME RELATIONSHIP TO DECEDENT OWNER NAME RELATIONSHIP TO DECEDENT
91 Old Mill Road
MAILING ADDRESS MAILING ADDRESS
Shermans Dale PA 17097
CITY STATE ZIP CITY STATE ZIP
OWNER NAME RELATIONSHIP TO DECEDENT OWNER NAME RELATIONSHIP TO DECEDENT
MAILING ADDRESS MAILING ADDRESS
CITY STATE ZIP CITY STATE ZIP
. _ _ __
���'l1���� ^� ����" ��f��1j3�1Cf� �+a����►�'a��,��'�t� L���1"1��MORS:
If claiming the "Farmland - Other" exemption, indicate the category below the real estate identified on this form
qualifies:
� Agricultural Commodity - Any and all plant and animal products, including Christmas trees
produced in Pennsylvania for commercial purposes.
❑ Agricultural Conservation Easement - An interest in land, less than fee simple, which interest
represents the right to prevent the development or improvement of a parcel for any purpose
other than agricultural production. The easement may be granted by the owner of the fee
simple to any third party or to the Commonwealth, to a county governing body, or to a unit
of local government. It shall be granted in perpetuity as the equivalent of covenants running
with the land. The exercise or failure to exercise any right granted by the easement shall not be
deemed to be management or control of activities at the site for purposes of enforcement of
the act of October 18, 1988 (P.L 756, No. 108), known as the "Hazardous Sites Cleanup Act"
❑ Agricultural Reserve - Noncommercial open space lands used for outdoor recreation or the
enjoyment of scenic or natural beauty and open to the public for such use, without charge or
fee, on a nondiscriminatory basis.
❑ Agricultural Use Property - Land used for the purpose of producing an agricultural commodity
or devoted to and meeting the requirements and qualifications for payments or other
compensation pursuant to a soil conservation program under an agreement with an agency of
the federal government.
❑ Forest Reserve - Land of 10 acres or more, that is stocked by forest trees of any size and
capable of producing timber or other wood products.
rr
���P� �.��,1�� � f���I�r����� � �.;�� ���C r� °����i=����' '
To maintain the °Business of Agriculture" exemption, each member of the same family who has inherited real
estate for which the business of agriculture exemption was claimed is required to certify to the department that
the real estate still qualifies for the "Business of Agriculture Exemption" for a period of seven years beyond the
decedent's date of death. If during the seven-year post-death period the real estate ceases to be used in the
business of agriculture at any point or does not generate a minimum of $2,000 of gross income in any year, the
owner(s) must notify the department within 30 days of such occurrence and will be liable for inheritance tax
in the amount that would have been paid on the fair market value of the real estate as of the date of the
decedent's death, plus interest. The department will supply the owners with the annual certification form.
Rev-7508 EX+(6-98�
SCHEDULE E
y � CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COMMON W EA�TH OF PENNSYLVANIA -
INHERITANCE TAX RETURN
RESIDENTDECEDENT
ESTATE OF FILE NUMBER
Wa ner, Gra D. 21-13-1029
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 VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1 Refund of retainer from Griffie 8�Associates 250.00
2 Orrstown Bank- 60.15
Checking Account No.XXXXX2734
(See attached statement)
3 Orrstown Bank- 213.61
Checking Account No.XXXXX3373
(See attached statement)
4 Orrstown Bank- 1,600.64
Checking Account No.XXXXX3944
(See attached statement)
5 PFB Members Service Corp. (Insurance refund) 411.45
6 USDA Disbursement 220.00
7 Discover Refund 2.37
8 Capital One refund of overpayment 4.29
9 Health Insurance Direct Payment to decedent 39.41
10 Health Insurance direct payment to decedent 49.95
11 Health Insurance direct payment to decedent 49.95
12 Health Insurance direct payment to decedent 49.95
13 Health Insurance direct payment to decedent 49.95
14 Hay Check(Newswanger) 2,000.00
Total of Continuation Schedule See attached page
TOTAL(Also enter on Line 5, Recapitulation) 7,012.22
(If more space is needed,additional pages of the same size)
Copyright(c)2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule E(Rev.6-98)
Rev-1508 EX+(6-98)
SCHEDULE E
CASH, BANK DEPOSITS, 8� MISC.
PERSONAL PROPERTY
COMMONW EALTH OF PENNSVLVANIA
INHERITANCE TAX RETURN conti n ued
RESIDENTDECEDENT
ESTATE OF FILE NUMBER
Wagner, Gray D. 21-13-1029
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
15 Hay Check(Brenize) 414.00
76 Hay Check(McKeehan) 1,554.00
17 Reimbursement from American Express 42.50
TOTAL(Also enter on Line 5, Recapitulation) 7,012.22
Copyright(c)2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule E(Rev.6-98)
Rev-1509 EX+(6-98�
SCHEDULE F
COMMONWEALTHOFPENNSYLVANIA JOINTLY-OWNED PROPERTY
INHERITANCE TAX RETURN
RESIDENTDECEDENT
ESTATE OF FILE NUMBER
Wagner, Gray D. 21-13-1029
If an asset was made joint within one year of the decedent's date of death,it must be reported on schedule G.
SURVIVING JOINT TENANT(S)NAME ADDRESS RELATIONSHIP TO DECEDENT
A. Denise A.Wagner 411 Green Hill Road Wife
Newville, PA 17241
B.
C.
JOINTLY OWNED PROPERTY:
DESCRIPTION OF PROPERTY %OF DATE OF DEATH
LETTER DATE INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT DECD'S VALUE OF
ITEM FOR JOINT MADE NUMBER OR SIMILAR IDENTIFYING NUMBER.ATTACH DEED FOR DATE OF DEATH DECEDENT'S INTEREST
NUMBER TENANT JOINT VALUE OF ASSE INTEREST
JOfNTLY-HELD REALESTATE.
1 A 4/12/2013 Federal Income Tax Refund 805.00 50.000% 402.50
TOTAL(Also enter on Line 6, Recapitulation) 402.50
(If more space is needed,additional pages of the same size)
Copyright(c)2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule F(Rev.6-98)
Rev-1510 EX+(6-98)
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
COMMONWEALTH OF PENNSVLVANIA
INHERITANCE TAX RETURN
RESIDENTDECEDENT
ESTATE OF FILE NUMBER
Wagner, Gray D. 21-13-1029
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
ITEM DESCRIPTION OF PROPERTY DATE OF DEATH %OF DECD'S EXCLUSION TAXABLE
NUMBER THE DA E OF TR,�4NSFERSATTACH A COPYEOF TI�HE DEED F�OREREAL ESTAT�E VALUE OF ASSET INTEREST (IF APPLiCABLE) VALUE
1 Morgan Stanley- 61,816.71 0.000°/a 100.00 0.00
Retirement Account No.XXX-XXXXX7-152
(Decedent's age at death 47)
(Retirement account not taxable)
(See attached statement)
TOTAL(Also enter on Line 7, Recapitulation) 0.00
(If more space is needed,additional pages of the same size)
Copyright(c)2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule G(Rev.6-98)
REV-1151 EX+(�0-06) #0.
SCHEDULE H
COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES &
INHERITANCETAXRETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Wagner, Gray D. 21-13-1029
Debts of decedent must be reported on Schedule I.
ITEM DESCRIPTION AMOUNT
NUMBER
A. FUNERAL EXPENSES:
See continuation schedule(s) attached 2,357.86
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative(s)
Street Address
City State Zio
Year(sl Commission oaid
2. Attornev's Fees Griffie 8 Associates, P.C. 5,000.00
3, Family Exemption: (If decedenYs address is not the same as claimanYs,attach explanation) 3,500.00
Ciaimant Denise A. Wagner
StreetAddress 114 Green Hill Road
City Newville State PA Zip 17241
Relationshio of Claimant to Decedent SpOUS@
4. Probate Fees 443.50
5. AccountanYs Fees
6. Tax Return Preparer's Fees
7. Other Administrative Costs 1,243.30
See continuation schedule(s) attached
TOTAL(Also enter on line 9, Recapitulation) 12,544.66
Copyright(c)2009 form software only The Lackner Group, Inc. Form PA-1500 Schedule H(Rev. 10-06)
SCHEDULE H
FUNERAL EXPENSES AND ADMINISTRATIVE COSTS
continued
ESTATE OF FILE NUMBER
Wagner, Gray D. 21-13-1029
ITEM
NUMBER DESCRIPTION AMOUNT
Funeral Ex ep nses
1 Egger Funeral Home, Inc. 2,357.86
H-A 2,357.86
Other Administrative Costs
2 The Sentinel (Advertising) 168.30
3 The Cumberland Law Journal (Advertising) 75.00
4 Cost of Appraisal 500.00
5 Reserves 500.00
H-B7 1,243.30
Copyright(c)2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H(Rev.6-98)
Rev7572 EX+(12-08)
SCHEDULE 1
� � DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENTDECEDENT
ESTATE OF FILE NUMBER
Wagner, Gray D. 21-13-1029
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 Andrews&Patel Associates, PC(Medical) 258.26
2 Quantum Imaging&Therapeutic Associates(Medical) 112.81
3 Capital Cardiovascular Associates(Medical) 14.66
4 CenturyLink(final bill) 137.29
5 CTI Networks 81.00
6 Southampton Township(Trash) 48.90
7 Direct TV 122.24
8 Quantum Imaging&Therapeutic Associates(Medical) 6.40
9 West Shore Pathology Associates 48.09
10 Holy Spirit Hospital - 44.22
(Comupter Credit, Inc.)
11 Milton S. Hershey Medical Center 1,345.25
72 Camp Hill Emergency Physicians 2,469.00
.
TOTAL(Also enter on Line 10, Recapitulation) 4,688.12
(If more space is needed,additional pages of the same size)
Copyright(c)2009 form software only The Lackner Group, Inc. Form PA-1500 Schedule I(Rev. 12-08)
REV-1513 EX+(11-08)
SCHEDULE J
COMMNHERIETANCE�TF,qP)(RETURNANIA BENEFICIARIES
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Wa ner, Gra D. 21-13-1029
NAME AND ADDRESS OF RELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE
NUMBER PERSON(Sl RECEIVING PROPERTY DECEDENT
Do Not List Trustee s �WOfdS� ($$$�
I� TAXABLE DISTRIBUTIONS [include outright spousal
distributions,and transfers
under Sec.9116 a 1.2
Denise A.Wagner Wife One hundred
114 Green Hill Road percent of net
Newville, PA 17241 distributable
estate
Total
Enter dollar amounts for distributions shown above on lines 15 throu h 18 on Rev 1500 cover sheet,as a ro riate.
NON-TAXABLE DISTRIBUTIONS:
II. A.SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN
B.CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET
Copyright(c)2009 form software only The Lackner Group, Inc. Form PA-1500 Schedule J(Rev. 11-08)
Attachment to Schedule "E"
o�STOw�
B��
A Tradition of Excellence
October 2,2013
Griffie&Associates
Attorneys and Counselors at Law
Z00 North Hanaver St
Carlisle,Pa 17013
Fax: 717-243-5063
Re: Estate of Gary David Wagner
Social Security Number 182-50-2466
Date of Death 09/10/2013
IT IS HEREBY CERTIFIED THAT THE ABOVE NAMED DECEDENT HAD THE
FOLLOWING ACCOUNT W1TH ORRSTOWN BANK:
CHECKING ACCDUNT
Account No.- 106002734
Account Ty�- Free Checking
Account Tit1e- Gary D Wagner
Date Opened- 8/20l02
Joint Account(nameldate}- No
Balance- $60.15
Account Interest- $.00
CHECKING ACCDUNT
Account No.- l Ob003373
Account Type- Free Checking
Ac�ount Title- Gary D Wagner
Date Opened- 8/20/02
Joint Account(nameJdate)- No
$alance- $213.61
Account Interest- $.OQ
2695 Philadelphia Avenue•Chambetsburg,PA 17201
C�KING ACCOUNT
Account No: 106U03944
Account Type- Free Checking
Account Tide- Gary D Wa�er
Date Opened- 12/29lOS
Joint Account(name/date)- No
Balance- $1600.64
Account Interest- $.00
Best Regards,
Lisa R. Kline
Deposit Processing Clerk III
Attachment to Schedule "G"
MorganStanl
CLIENT STATEMENT I For the Period September 1-30, 2013
M � ` Retirement Account � GRAY-_D WAGNER
�ACC�(;�j'�� Su�'j'�mary. ; ; ` 916=108117=152, , `� 1.14.GREEN HILLROAD
,. '�.n.;��. .�. :,;;._ _.,;°
CHANGE IN VALUE OF YOUR ACCOUNTS (includes accrued interest) CHANGE IN VALUE OVER TIME
This Period This Year This graph compares the totai value of your account to t
(9/1/13-9/30/13) (1/1/13-9/30/13) totai amount invested minus the total amount withdrawi
TOTAL BEGINNING VALUE $59,358.92 $55,439.40 65.00
N
�
Credits — — y 60.00
Debits — (626.78) �'o�
Security Transfers — �' 55.00
_ _ ^ -----
Net CreditslDebits/Transfers — $(626.78) �
50.00
Change in Value 2,457.79 7,004.09 MAY 2012 JUN 2012 SEP 2012 D
TOTAL ENDING VALUE $61,816.71 $61,816.71
— Total Market Value —'
This exhibit may not include transactions for investme�
Barney LLC is not the custodian. This may affect the r�
custodian there may also be a delay in the reporting of
ALLOCATION OF HOLDINGS �
Cash, BDP, MMFs*
TRAK-Advisory Service
� ����=�� TOTAL VALUE
fl, "" 4e'�t„���x"T'�
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i ��'#����H�-i ''`�``�"�'�'�,
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, T
+ s-. s us�T'��K.:
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TRAK-Advisory Service
This allocation represents holdings on a trade date basis,and projected settled Cash/BDP and MMF balances. These classiFcations are not intended to serve as a�
Deposits are eligible for FDIC insurance but are not covered by SIPC. Cash and securities(including MMFs)are eligible for S1PC coverage.See Enpanded Disclosure
Attachment to Schedule "AU"
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PARCEL N0.
a a�� � � T�IS D��D
MADE THE �!��� day of in the year of our Lo��d trvo thousand
and four. Q��� _
BETWEEN SALLY A. N'AGNER, widow, of Cumberland CounTy, Pennsylvania, �—` ; :,�,;
Grantor herein, '— " : � `�'
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GRAY DAVID WAGNER and HOPE PAULA WAGNER, siblings, of Newville, � `' ,_°„ �'
Cumberland County, Pennsylvania, Grantees herein. _
WITNESSETH, that in consideration of ONE AND XX/100 ($1.00) Dollar, in hand paid,
the receipt whereof is hereby acknowledged, the said grantor does hereby grant and
convey to the said grantees, thei�• heirs and assigns as joint tenants with the right of
survivorship.
ALL those certain tracts of land situate in the Township of West Pennsboro, County of
Cumberland, State of Pennsylvania,bounded and described as follows,to wit:
TRACT NO. 1: BEGINNING at a stone in the State Road; thence by Tract No. 2 and
land now or formerly of Walter M. Fickes, South 55-1/2 degrees East 111.5 perches to a
stone; thence by lands of Walter M. Fickes, South 1 degree West 32 perches to a post;
thence by lands now or formerly of Arthur Rife, South 72-1/2 degrees West 32 perches to
a stone; thence by same, North 63-1/4 degrees West 135 perches in center of said road;
thence along center of said road, North 53 degrees East 74.5 perches to the Place of
BEGINNING. CONTAINING 49 acres and 4 perches.
TRACT NO. 2: ADJOINING Tract No. 1 and bounded by it on the West; on the East by
other land belonging to, now or formerly of William O. Ker, et al; on the North by land
now or formerly of James Bloser and the State Road and on the South by lands now or
formerly of W. M. Fickes, the lines of said tract being as follows: On the North 47
perches; on the East 80 perches; on the South 43 perches and on the West 88 perches.
More fully described as follows, to wit: BEGINNING at a point in Carlisle-Nevwille
Road at a corner of Tract No. l, herein described; thence by said road, North 51 degrees
East 47 perches to a point in said road at a corner of Tract No. 3 herein described; thence
. by Tract No. 3, South 57-3/4 degrees East 80 perches to a point, a corner of Tract No. 3;
thence by lands now or formerly of W. M. Fickes, South 44 degrees West 43 perches to a
point on line of Tract No. l; thence by Tract No. 1,North 58 degrees West 88 perches to
the Place of BEGINNING. CONTAINING 22 acres and 139 perches.
B�3aK �`�� P�1�E�����
TRACT NO. 3: ADJOINING Tract No. 2, and more fully described as follows, to wit:
BEGINNING at a stone, the corner of a public road and lands now or formerly of W. M.
Fickes; thence South 44 degrees West 46 perches to a point, the corner of Tract No. 2;
thence by Tract No. 2, North 56-1/4 degrees West 79 perches to the center of a public
road; thence along said road, South 49 degrees West 56.5 perches to a point;thence along
a township road, South 49 degrees East 73 perches to a stone, the Place of BEGINNING.
CONTAINING 22 acres, more or less.
BEING the same premises that David P. Wagner and Sa11y A. Wagner, husband and
wife, by their deed dated the 7th day of July, 1989, and recorded in the Office of the
Recorder of Deeds in and for Cumberland County, Pennsylvania, in Deed Book "A",
Volume 34,Page 1059, granted and conveyed unto DAVID P. WAGNER and SALLY A.
WAGNER. The said David P. Wagner having died on March 23, 2003, thereby vesting
title by operation of law in his wife, SALLY A. WAGNER, GRANTOR herein.
LESS, HOWEVER, that certain Tract of land conveyed by deed dated April lst, 1960,
and recorded in the Office aforesaid in Deed Book"T",Volume 19,Page 24.
This real estate trc�nsfe�• is between parent and children, and therefore, exempt
from Yealty transfer tax.
And the said granto�� he��eby covenants and agrees that she will warrant specially
the property hereby conveyed.
IN WITNESS WHEREOF, said grantor has hereunto set her hand and seal the
day and year first above written.
Signed, Sealed and Delivered
in the Presence of
-z�_e�i,2J !� � L)
,�ALLYA. GNER
B00!( ���► �AGE����.
Commonwealth of Pen�zsylvania )
) SS.
County of Cumberla��d )
On this, the �� day of ' , 2004, before me, tlze undersigned
officer, personally appeared Sally A. agner, known to me (o�• satisfactorily proven) to
be the person whose nume is subsci•ibed to the �t�ithin instrument, and acknomledged that
she executed same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and o�cial seal.
� ' i e
r
�.
N07ARIAL SEAL
ROBIN 7.G�SNORH,NOTARY PUBUC
CARLISLE BORD.,CUMBERIAND COUNTI
MY COMMISSION E1(PIRES APRIL 17 20Q7
I do he�•eby cer•tify that the pr�ecise residence and complete post o�ce address of
the within named g�•antee is ,,�;3,� j,¢.�cz�,� �1 C�,� /ll�u����-e �r�,4 i��y�,
U ,
; ,.r.
�
Attorney for ,�g���-c,�
/�- J S.
COMMONWEALTH OF PENNSYL VANIA )
) SS
County of )
RECORDED on this day of
A.D. 2004, in the Recorder's o�ce of the said County, in Deed
Book Vol. , Page
Given under my hand and the seal of the said off ce, the date above
' �����-���.iy t1lis t� be reca��led
written.
!?;. ��.:�ti1li��i:s�ai7� �CU11� PA
.
�> ,� ..,,,_ ;,� d:•°.: _.��, , Recorder.
. .r•f'._:;:.. '• -r r'-r.: .
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_.. t�:..�.:,�.1 C1.�.'I' O i�`�P�.S
f3flilK ��� P�;"c��.�
SUMMARY APPRAISAL REPORT
114 GREEN HILL ROAD
NEVWILLE, PENNSYLVA1vIA
� PREPARED FOR
THE ESTATE OF GRAY D. WAGNER
BY
LARRY E. FOOTE
DIVERSIFIED APPRAISAL SERVICES
35 EAST HIGH STREET, SUITE 101
CARLISLE, PENNSYLVANIA
17013-3052
(717)249-2758
� � ��
Diversified Appraisal Services
Real Estate Appraisers and Consultants 35 East High Street
Cadisle,PA 17013-3052
(T17)249-2758
FAX(71�258-4701
January 15,2014
TO: The estate of Gray D. Wagner
FM: Larry E. Foote
RE: Sumrnary Appraisal Report
Agricultural Property
114 Green Hill Road
� � Nevwille,Pennsylvania
At your request, I have appraised the captioned property. The appraisal report,wluch
follows this letter,is submitted in support of my opinion of Market Va1ue of the Fee Simple
Interest in the property,as of September 10,2013.
I hereby certify that,to the best of my knowledge and belief,the data,facts,and
opinions set forth therein,aze accurate, subject to the Statement of Assumptions and Limiting
Conditions that is also made a part of the report, and that the inclicated Market Va1ue of the
subject properry, as of September 10,2013 is:
SIX HUNDRED AND SEVENTY-NINE THOUSAND DOLLARS
$679,000
This appraisal has been made in confornuty 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 fir�d the report entirely satisfactory.
Respectfully submitted,
,W 5����/
Larry E. Foote
Pa. Certified General Appraiser
GA-000014-L
2
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
LOCATION: 114 Green Hill Road
Nevwille,Pennsylvania
TAX PARCEL NUMBER: 46-08-0589-021
IMPROVEMENTS: Two-story detached single-family dwelling,barn and
other farm buildings..
PROPERTY RIGHTS: Fee simple interest.
OWNERSHIP HISTORY: The subject property is owned by Crray David Wagner
and Hope Paula Wagner. The properiy last transferred on
June 8, 2004 for a reported consideration of $1.00 and
ownership conveyed on Deed Book 263, Page 2330.
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 a11 three approaches to value, and the
application of those relevant to the valuation of the
' subject.
CLIENT: The estate of Gray D. Wagner.
INTENDED USER: The estate of Gray D. Wagner.
OBJECTIVE: To estimate the market value of the subject property as
unencumbered.
EFFECTIVE DATE: September 10,2013.
INSPECTION DATE: January 7, 2014.
HIGHEST AND BEST USE: Continued use as a fann and subdivision of road fronta.ge
residential building lots.
COST APPROACH: N.A.
SALES APPROACH: $679,000
INCOME APPROACH: N.A.
FINAL VALUE CONCLUSION: $679,000
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 properry 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 presenta.tion 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 aze applicable to the appraisal assignment.
5. Hypothetical conditions that aze applicable to the appraisal assignment.
Scope of Work: �
Scope of work is defined in the Uniform Standards of Professional Practice as being
"the type and extent of research and analyses in an assignment." This includes the degree and
extent of research and the data that is deemed as necessary to develop a credible opinion of
value for the property being appraised.
Data Collection and Analysis:
The appraiser must gather and analyze market area data, subject property data, and
comparable property data that is relative and relevant to the appraisal assignment.
Development and Application of Traditional Approaches to Value:
The appraiser must consider which of the three traditional approaches to value are
applicable,relevant,and necessary for developing a credible opinion of value for the subject
property. These three traditional approaches to value include the Cost Approach, Sales
Comparison Approach,and Income Capitalization Approach. When two or more of these
approaches to value are developed,the appraiser must determine the amount of emphasis and
consideration to be given to each of those approaches to value, since one or more may have
greater significance in the appraisal of a specific property.
Reconciliation of Value Indications and Final Opinion of Value:
The final step in the valuation process is the reconciliation of the value indications
developed by the appraiser. Reconciliation is the analysis of alternative conclusions to arrive at
a final value estimate. Reconciliation is required because different value indications result
from the use of multiple approaches to value and within the application of a single approach.
The final value estimate is not derived simply by applying technical and quantitative
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:
THE ESTATE OF GRAY D. WAGNER
the undersigned personally inspected the following described property:
All those certain tracts of land, with the improvements thereon erected, situate in West
Pennsboro Township, Cumberland County,Pennsylvania,bounded and described as follows:
TRACT NO. 1: Beginning at a stone in the Sta.te Road;thence by Tract No. 2 and
land now or formerly of Walter M. Fickes, South 55.5 degrees East 111.5 perches to a stone;
thence by lands of Walter M. Fickes, South 1 degree West 32 perches to a post;thence by lands
now or formerly of Arthur Rife, South 72.5 degrees West 32 perches to a stone;thence by
same,North 63.25 degrees West 135 perches in center of said road;thence along center of said
road,North 53 degrees East 74.5 perches to the place of beginning. Containing 49 acres and 4
perches.
TRACT NO. 2: Adjoining Tract No. 1 and bounded by it on the West; on the East by
other land belonging to,now or formerly of Williaxn O. Ker, et al; on the North by land now or
formerly of James Bloser and the State Road and on the South by lands now or formerly of
W.M. Fickes,the lines of said tract being as follows: On the North 47 perches; on the Easf 80
perches; on the South 43 perches and on the West 88 perches. More fully described as follows:
Beginning at a point in Carlisle-Nevwille Road at a corner of Tract No. 1,herein described;
thence by said road,North 51 degrees East 47 perches to a point in said road at a corner of
Tract No. 3,herein described;thence by Tract No. 3, South 57.75 degrees East 80 perches to a
point,a corner of Tract No. 3;thence by lands now or formerly of W.M. Fickes, South 44
degrees West 43 perches to a point on line of Tract No. 1;thence by Tract No. 1,North 58
degrees West 88 perches to the place of beginning. Containing 22 acres and 139 perches.
TRACT NO. 3: Adjoining Tract No. 2,and more fully described as follows:
Beginning at a stone,the corner of a public road and lands now or formerly of W.M.Fickes;
thence South 44 degrees West 46 perches to a point,the corner of Tract No. 2;thence by Tract
No. 2,North 56.25 degrees West 79 perches to the center of a public road;thence along said
road, South 49 degrees East 73 perches to a stone,the place of beginning. Containing 22 acres,
more or less.
Less,however,that certain tract of land conveyed by deed dated April 1, 1960,and
recorded in Cumberland County Deed Book"T",Volume 19,Page 24.
6
. _ _
To the best of my knowledge and belief the statements contained in this report aze 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 Mazket Value as of September
10,2013 is:
SIX HUNDRED AND SEVENTY-NINE THOUSAND DOLLARS
$679,000
The properiy was appraised as a whole, subject to the contingent and limiting conditions
outlined herein.
,� SG��
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
properly as of September 10,2013.
Market Va1ue 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 mazket.
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 properiy sold
unaffected by special or creative financing or sales concessions granted
by anyone associated with the sa1e.
Source: Office of the Comptroller of the Currency, 12 CFI §34.42(�.
HIGHEST AND BEST USE
Highest and Best Use is defined by the Appraisal Terminology and Handbook,
published by the Appraisal Institute, as "the most profita.ble likely use to which a property can
be put". The opuuon of such use may be based on the highest and most profitable continuous
use to which the properly 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 continued use as a farm and subdivision of road frontage residential building lots is
the subject's Highest and Best Use. �
8
OWNERSHIP HISTORY
The subject property is owned by Gray David Wagner and Hope Paula Wagner. The
property last transferred on June 8, 2004 for a reported consideration of$1.00 and ownership
conveyed on Deed Book 263, Page 2330.
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 Va1ue, a reasonable mazketing 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 tixnes. 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 retxospective opinion based on an analysis of past events,assuming a
competitive and open market.It assumes not only adequate, sufficient and reasonable time but
adequa.te, sufficient and a reasonable mazketing 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 estunated to be six to twelve months.
9
SITE DATA
ADDRESS: 114 Green Hill Road
MUNICII'ALITY: West Pennsboro Township
COUNTY: Cumberland
STATE: Pennsylvania
LOT SIZE: Approximately 93.41 acres.
SEWERS: On-site septic system.
WATER: On-site well.
ELECTRICITY: Adams Electric.
LANDSCAPING: Typical for the area,with a sodded lawn,trees and shrubs.
DETRIMENTAL INFLUENCES
None. Pride of ownership is evident throughout the neighborhood.
DESCRIPTION OF IMPROVEMENTS
GENERAL DESCRIl'TION: Two-story detached single-family dwelling containing approxi-
mately 2,258 square feet of gross living area above grade.
CONDITION: Exterior: Fair
Interior: Fair
ROOMS: First Floor: Living room, eat-in kitchen, storage room and a full bath-
room.
Second Floor: Four bedrooms and a full bathroom.
Basement: Partial basement with a partial concrete floor.
EXTERIOR: Foundation: Stone
Walls: Painted wood, asbestos shingles and aluminum siding.
Sash: Wood-framed,single-glazed.
Gutters: Galvanized steel.
Roof: Gable,with standing seam steel panels.
Storm units: Combination storm and screen units.
10
INTERIOR, PRINCIPAL ROOMS: Flooring: Hardwood
Walls: Plaster,drywall and wood paneling.
Ceilings: Plaster and drywall.
Trim: Wood,natural finish.
KITCHEN: Cabinets: Wood,natural finish.
Counters: Vinyl sheathing.
Walls: Drywall,painted.
Floori.ng: Hazdwood
Sink: Double-bowl, stainless steel.
BATHROOMS: Flooring: Plywood or vinyl.
Walls: Drywall,painted.
Bathtub: Shower stall or free-standing tub.
Lavatory: Vanity or pedestal.
Water closet: Two-piece.
Medicine cabinet: Wall-mounted.
CONSTRUCTION: Joists: Wood
Beams: Wood
Plumbing: Copper and PVC.
HEATING: Oil-fired hot water on the first floor only.
COOLING: None.
HOT WATER: Electric, 50-gallon.
ELECTRIC: Circuit breaker system, 200-ampere.
OTHER: The dwelling has an enclosed porch and an enclosed balcony. The site is
further im�roved with a frame 37'x70' bank barn, silo,20'x78' concrete block millcing pazlor,
22'x60' frame loafing barn, 16'x20' frame shed, 12'x28' frame shed, 6'x15' frame shed,
14'x32' frame shed,28'x28' frame shed,20'x30' frame shed, 7'x18' frame shed, 60'x68' �
frame loafing barn and 17'x68' frame shed. Some of these buildings aze attached and others
are detached.
GENERAL CONDITION: All improvements aze considered to be in fair condition on the
interior and on the exterior, with the exception of the concrete block milking parlor,wluch is in
average condition. Mechanical systems appear 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 1'unit to value. A key assumption is that a newly
conshucted building would have advantages over the existing building,therefore an evalua.tion
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
suf�cient number of recent transactions of comparable properties in the mazket, based on a
common unit,such as price per square foot of building azea.
The income approach concems itself with present worth of the future potential benefits
of a property. The initial estimate involves the net income, which a fully informed person is
justified in assuming the property will produce during its remaining useful life. This estimated
net income is then capitalized into a value estimate, based upon the level of risk as compared
with tha.t 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:
Locarion: 391 Ridge Road, Shippensburg.
Date of Sale: December 14,2012. .
Sale Price: $600,000
Size: 2,412 square foot two-story dwelling,barn, seven farm buildings and a
silo on 126.24 acres of land.
Unit Price: $4,753 per acre.
SALE NO. 2:
Location: 896 Nevwille Road, Shippensburg.
Date of Sa1e: February 27,2412.
Sa1e Price: $750,000
Size: 3,468 square foot two-story dwelling,three barns,five farm buildings
and a silo on 151.81 acres of land.
Unit Price: $4,940 per acre.
SALE NO. 3:
Location: 17 Burgners Mill Road, Carlisle.
Date of Sale: December 26,2012.
Sa1e Price: $700,000
Size: 2,697 square foot two-story dwelling,barn, seven farm buildings and a
silo on 126�.24 acres of land.
Unit Price: $8,909 per acre.
The appraiser, in addition to the sales listed, also considered several additional sales in
arriving at his final opinion of value. On the Sa1es 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 compara.ble
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.
13
After making all of the necessary adjushnents, it is the appraiser's considered opinion
that the indicated value of the subject property by the Sales Comparison Approach is $679,000.
14
SALES COMPARISON ANALYSIS
ITEM SUBJECT COMPARABLE #1 COMPARABLE #2 COMPARABLE #3
114 Green Hill Rd. 391 Ridge Road 896 Nevwille Road 17 Burgners Mill Road
Address Nevwille Shippensburg Shippensburg Carlisle
Proximity to Subject 8.2 miles 7.1 miles 5.2 miles
Sale Price N.A. $600,000 $750,000 $700,000
Price/Sq.F�GLA N.A. $4,753 $4,940 $8,909
Data Source Inspection Courthouse&exterior inspection Courthouse&exterior inspection Courthouse&exterior inspection
ADJUSTMENTS DESCRIPTION DESCRIPTION S Adjust. DESCRIPTION $Adjust DESCRIPTION $Adjust.
Sales or Financing
Concessions None None None
Date of Sale/Time As of 9-10-13 12-14-12 2-27-12 12-26-12
Location Average Similar Similar Similar
Site/View 93.41 acres 126.24 acres -98,500 151.81 acres -175,200 78.57 acres +44,500
Road Froa e 5 169 fcet 6 094 feet 5,050 feet 280 feet +70,000
Design and Appeal Twastory detached 'I�vo-story detached Twastory detached Two-story detached
ConsWction Wood,alum.,shingle Aluminum siding -2,000 Stone -5,000 Vinyl siding -2,000
pge 223 years 102 years 122 years 160 years
Condition Fair Average -60,000 Average -75,000 Average -70,000
Above Cnade Tot. Bed. Bath Tot. Bed. Bath Tot. Bed. Bath Tot. Bed. Bath
Room Count � 4 2 9 5 2 -4,000 9 4 1'/z -3,000 9 4 1 -2,000
Gross Living Area 2,258 square feet 2,412 square feet -4,600 3,468 square feet -36,200 2,697 square feet -43,200
Basement BcFinished
Rooms Below Grade Partia!basement Fult basement. -1,000 Fult basement. -1,000 Full basement -1,000
Functional tJtili Av e Similar Similar Similaz
Heatin /Coo(in Oil-fired hot water Oil-fired hot water Oil-fired hot air Oil-fined hot sir
e/C rt None Two-car e -10,000 None None
Porches,Patios Enciosed porch,en- Porch,two eaclosed Two porches,
P o o l s,e t c. closed balcon ches, atio: -1,000 Two rches. -1,000 enclosed reh.
Special Energy Typical for the
E�'icient Items re 'on. Simitar Similar Similar
Fire Ia s None None Fire lace -1,000 Fire tace -1,�
Other(e.g.kitchen Bam,eleven farm Barn,seven farm Three bams,five Thtee berns,nine
equip.,remodeling) buildings,silo buildings,silo +12,000 fann buildings,two -3,000 farm buiidings,tiuee -16,000
silos silos
Net Ad'. total
-169,100 -298,500 -20>700
Indicated Value 451,500 679,300
of Sub'ect 430,900
FINAL INDICATED VALLTE OF SUBJECT PROPERTY: $679,000
Compazable Sale Number 3 is most similar in size to the subject property. Therefore, it has
been given the most consideration in arriving at my final opinion of value.
15
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 $679,000
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 properry in this neighborhood. It is my belief that
this reexamination has confumed the original conclusions.
The Cost Approach will result in an excellent estunate if a11 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 aze more concerned with amenities than with hypothetical
replacement of the property. Due to the age of the subject improvements,the Cost Approach is
considered to be inappropriate and has not been included in this appraisal report.
The Sales Comparison Approach was based on several recent sales of properties similar
to that of the subject, all of which are located in the same general area. The adjusted sales
prices are most consistent under comparison. This approach is the most reliable because it
reflects the reactions of typical buyers and sellers in the mazket.
The Income Approach is most applicable to income producing properties or properties
that are primarily utilized for income producing purposes. Purchasers of income producing
properties are willing to pay no more for a particular property than the net operating income
will support. Since the majority of properties similar to the subject are not utilized for income
producing purposes,this approach to value has not been included in this appraisal report.
Therefore, as a result of this appraisal and analysis, it is this appraiser's considered
judgment and opinion that the Market Value of the subject property, as of September 10, 2013,
is: �
SIX HUNDRED AND SEVENTY-NINE THOUSAND DOLLARS
$679,000
16
UNDERLYING ASSUMPTIONS AND LIMITING
CONDITIONS SUBJECT TO THIS APPRAISAL
1. I assume no responsibility for matters legal in nature, nor do I render any opinion as to
the title,which is assumed to be marketable. The property is appraised as though under
responsible ownership.
2. The legal description used herein is correct.
3. I have made no survey of the property, and the boundaries are taken from records
believed to be reliable. .
4. I assume that there are no hidden or unapparent conditions of the property, subsoil or
structures which would render it more or less valuable. I assume no resporisibility for
such conditions or for engineering which might be required to discover such factors.
5. The information, estimates, and opirtions 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 ad.vertising 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
prepazation of this report. Any use of this appraisal by any other person or entity, or
any reliance or decisions based on this appraisal aze 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.
17
CERTIFICATE OF APPRAISAL �
I certify that,to the best of my l�owledge 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 ttus report
and no personal interest with respect to the parties involved.
4. I have no bias with respect to the property that is the subject of this report or to the
parties involved with this assignment.
5. My engagement in this assignment was not contingent upon developing or reporting
predeternoined 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
prepazed,in conformity with the Uniform Standards of professional Appraisal Practice.
8. I have made a personal inspection of the property that is the subject of this report.
9. No one provided significant real property appraisal assistance to the person sign-
ing this certification.
,� 5����
. Larry E. Foote
Pa. Certified General Appraiser
GA-000014-L
18
PRIVACY NOTICE
Pursuant to the Gramm-Leach-Billey Act of 1999,effective July 1,2001,appraisers,
along with a11 providers of personal financial.services are now required by federallaw 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 aze pleased to provide you with this information.
In the course of performing appraisals,we may collect what is known as"nonpublic
personal i.nformation" 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 authoriza.tion.
We do not disclose any nonpublic personal information obtained in the course of our
engagement with our clients to nonaffiliated third parties,except as necessary or as required by
law. By way of example,a necessary disclosure would be to our independent contractors,and
in certain situations,to unrelated third party consultants who need to know that information to
assist us in providing appraisal services to you. All of our independent contractors and any
third party consultants we engage are informed that any information they see as part of an
appraisal assignment is to be maintained in strict confidence within the firm. A disclosure
required by law would be a disclosure by us that is ordered by a court of competent jurisdiction
with regard to a legal action to which you aze a party.
We will retain records relating to professional services that we ha.ve 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.
19
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,daycaze 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 Mazketing Institute,CI 101,CI 102,CI 103,CI 104,
CI 105.
Standards of Professional Practice,American Institute of Real Estate Appraisers.
Real Estate Appraisal Principles,American Institute of Real Estate Appraisers.
Residential Valuation,American Institute of Real Estate Appraisers.
Appraisal Procedures,Appraisal Institute. �
Principles of Income Property Appraising,Appraisal Insritute.
Case Studies in Real Estate Valuation,Appraisal Institute.
Report Writing and Valuation Analy.sis,Appraisal Institute.
PROFESSIONAL LICENSES:
General Appra.iser#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,awazded 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.
20
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 1�`Federa.l Credit Union Adams County National Bank
Pennsylvania National Bank Countrywide Home Loans
Evans Financial Corporation Aarrow Mortgage
Greenawalt&Company,CPA Various law firms and individua.ls
Smith's Transfer Corporation
Carlisle Department of Parks and Recreation
Executive Relocation Services
Carlisle Area School District
Messiah Homes,Incorporated
ERA Eastem Regional Services
Pennsylvania Turnpike Commission
Chase Home Mortgage Corporation
Defense Activities Federal Credit Union
Pennsylvania State Employees Credit LTnion
PNC Mortgage Corporation
,- F&M Trust Company
National City Mortgage Corporation
Washington Mutual Home Loans,Inc.
Prudential Relocation Services
Lender's.Choice
Market Intelligence,Incorporated
United Telephone Employees Federal Credit Union
Cumberland County Commissioners
Allstate Enterprises Mortgage Corporation
Dickinson College
PPG Industries,Incorporated
Gettysburg College
Redevelopment Authority of Cumberland County
Record Data Appraisal Services,Incorporated
First United Federal Savings Association
Fulton Bank
United States Mazshall 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 Corporarion
Drovers Bank
21
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PHOTOGRAPHS OF THE SUBJECT PROPERTY
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STREET SCENES AT THE SUBJECT PROPERTY
28
� These buildings are at the end of a private lane. Therefore,photographs of the buildings could
not be taken without trespassing.
COMPARABLE SALE NO. 1
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SUBJECT PROPERTY LOCATION MAP
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��.�.�.�� & .�lssoc�.���s, P.C.
Attorneys and Counselors at Law
200 North Hanover Street
Bradley L. Griffie, Carlisle,PA 17013
ES(]Ull'C (717)243-5551
Hannah Herman-Snyder, 100 Lincoln Way East,Suite D
Esquire Chambersburg,PA 17201
(717)267-1350
Robin J.Bassett
Office Manager (800)347-5552
Fax(717)243-5063
Kelly L.Perez
Legal Assistant
Reply to:Carlis[e �
To Whom It May Concern:
The attached Schedule AU is provided based upon the transfer of ownership, by
operation of law, of the farm property owned jointly by the decedent, Gray D. Wagner,
and his sister, Hope P. Prutzman. The property has been, and continues to be, a family
farm operation. The decedent raised sheep and crops on this property, and his sister
continues to do so. A copy of the County assessment card, an appraisal of the property
that the estate secured, and Deed is attached hereto for further clarification. This property
is exempt from inheritance tax pursuant to 72 P.S.C. Section 9111 (s.l.).
To the extent that any part of the property does not qualify for exemption under
71 P.S.C. Section 9111 (s.l), a protective election is taken in order to claim exemption of
any such remaining property under 72 P.S.C. Section 91 ll (s). In the event that any such
remaining property that is otherwise determined to be taxable under Section 9111 (s.l)
and is likewise determined to be non-exempt under subsection (s), then a protective
election is taken to apply section 9122 to that remaining portion of the real estate.
Respectfully submitted,
. riffie, Esquire
u rem Court ID No. 34349 �, .
200 North Hanover Street ;
Carlisle, PA 17013 r � � m
(717) 243-5551 � ° � � o
(800) 347-5552 .��i � c� � ���� v
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