The URL can be used to link to this page

Home My WebLink About10-23-14 TRUST COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NAME OF TRUST (TRZIST UNDER WILL OF Trust under A�reement dated 7/20/1967 or TRIIST UNDER DEED OF Morrison C. Stayer DATED 07/20/67 ) No. 21-10-0743 t_J C� � � �� G � �'i"j n G"� ,> � PETITION FOR ADJUDICATION/ � � � > �� -va STATEMENT OF PROPOSED DISTRIBUTION ',-', � ;�' N �� PURSUANT TO Pa. O.C. Rule 69 � �"� ' `�' � c:�a ,, . , , _.� �:� ...;� � n �; c� ;:.; c,.� r��- n� This form may be used in all cases involving the Audit of Trust Accounts. If space is`insuffiche�t, � Q riders may be attached. � � INCL UDE ATTACHMENTS AT THE BACK OF THIS FORM. Name of Counsel: Seth T. Mosebey Supreme Court I.D.No.: 203046 Name of Law Firm: Martson Law Offices Address: 10 East High Street, Carlisle,PA 17013 Telephone: ��1�)243-3341 Fax: �71�)243-1850 Form OC-02 rev l0.13.06 Page 1 of 10 \ r\n" \ Name of Trust: Trust under Agreement dated 7/20/1967 by Morrison C. Stayer 1. Name(s) and address(es) of Petitioner(s): Petitioner: Petitioner: NQi11e: Manufacturers &Traders Trust Co Aad,ess: One West High Street Carlisle, PA 17013 2. Check if any of the following issues are involved in this case: A. Appointment of Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 B. Interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 C. Discharge of Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � D. Transfer of Situs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 E. Appointment ofAd Litem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � F. Minor,Unborn or Unascertained Beneficiary(ies) . . . . . . . . . . . . . . . . . . . . . . � G. Principal Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � H. Partial/Full Termination of Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � L Missing Beneficiary(ies) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑ J. Cy Pres . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � K. WilliamsonIssue* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � L. OtherIssues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . � List: Please note: A detailed explanation of issues checked should be set forth at item 13 below. �`See Williamson Estate,368 Pa.343,82 A2d 49(1951),if Trustee was also Executor of the settlor/decedenYs estate and received commissions in such capacity. Form OC-02 rev 10.13.06 Page 2 of 10 Name of Trust:Trust under Agreement dated 7/20/1967 by Morrison C. Stayer 3. Testamentarv Trust: Decedent's date of death: Date of Decedent's Will: Date(s) of Codicil(s): Date of probate: or Inter Vivos Trust: Date of Trust: July 20, 1967 Date(s) of Amendment(s): None 4. A. If any other Court has taken jurisdiction of any matter relating to this Trust, explain: None B. Identify all prior accountings and provide dates of adjudication. First and Final Account filed 7/23/2010 and adjudicated 8/24/2010 5. A. State how each Trustee was appointed: Trust Agreement dated July 20, 1967 B. If a Petitioner is not a Trustee, explain: Not applicable Form OC-02 rev 10.13.06 Page 3 of 10 Name of Trust: Trust under Agreement dated 7/20/1967 by Morrison C. Stayer 6. State how and when the present fund was awarded to Trustee(s): Trust Agreement dated July 20, 1967,and funded August 11, 1967 7. Period covered by accounting: June 24, 2010 to October 1, 2014 8. Current fair market value of the Trust principal is$ 364,498.62 . (See page 15 of Account.) 9. State concisely the dispositive provisions of the Trust: Upon the death of the income beneficiaries,William K. Stayer and Wanda B. Stayer,the Trust shall be distributed in equal shares to the children of William K. Stayer(Thomas K. Stayer and Mary Catherine Stayer Burns)or their issue. Thomas K. Stayer received his share. The share for Mary Catherine Stayer Burns goes to her issue as follows: 1/4 share to Timothy P. Burns; 1/4 share to Amy Burns; 1/4 share to Patrick Burns; and, 1/4 share to Jenny Burns. 10. Explain the reason for filing this Account(if filed because of the death of a party, state name of person, relationship to Trust and date of death): Mary Catherine Stayer Burns,granddaughter of Morrison Clay Stayer, was presumed to be deceased as of September 19, 2014,by Decree dated September 22, 2014. Form OC-02 rev 10.13.06 Page 4 of 10 Name of Trust:Trust under Agreement dated 7/20/1967 by Morrison C. Stayer 11. State why a Petition for Guardian/Trustee Ad Litem has or has not been filed for this Audit(see Pa. O.C. Rule 12.4): Not applicable 12. A. State the amount of Pennsylvania Transfer Inheritance Tax and Pennsylvania Estate Tax paid (including postponed tax on remainder interests),the dates of payment and the interests upon which such amounts were paid: Date Payment /nterest B. If any such taxes remain unpaid or are in dispute, explain: 13. Describe any questions requiring Adjudication and state the position of Petitioner(s) and give details of any issues identified in item 2: Pursuant to a Petition filed by M&T in the Orphans' Court,the Court has issued a Decree finding that Mary Catherine Stayer Burns is deceased. Per the Decree,M&T is seeking to distribute the Trust, in full,pursuant to the terms of the Trust. Distribution will terminate said Trust and M&T is seeking to be discharged from its duties as Trustee. Form OC-02 rev 10.13.06 Page 5 of 10 Name of Trust:Trust under Agreement dated 7/20/1967 by Morrison C. Stayer 14. Written notice of the Audit as required by Pa. O.C. Rules 6.3, 6.7 and 6.8 has been or will be given to all parties in interest listed in item 15 below. In addition, notice of any questions requiring Adjudication as discussed in item 13 above has been or will be given to all persons affected thereby. A. If Notice has been given, attach a copy of the Notice as well as a list of the names and addresses of the parties receiving such notice. B. If Notice is yet to be given, a copy of the Notice as well as a list of the names and addresses of the parties receiving such Notice shall be submitted at the Audit together with a statement executed by Petitioner(s) or counsel certifying that such Notice has been given. C. If any such party in interest is not sui juris (e.g., minors or incapacitated persons), Notice of the Audit has been or will be given to the appropriate representative on such party's behalf as required by Pa. O.C. Rule 5.2. D. If any charitable interest is involved,Notice of the Audit has been or will also be given to the Attorney General as required under Pa. O.C. Rule 5.5. In addition, the Attorney General's clearance certificate (or proof of service of Notice and a copy of such Notice)must be submitted herewith or at the Audit. 15. List all parties of whom Petitioner(s) has/have notice or knowledge, having or claiming any interest in the Trust,whether such interest is vested or contingent, charitable or non-charitable. This list shall: A. State each party's relationship to the Settlor/Decedent and the nature of each party's interest(s); Name and Address of Each Parry in Interest I Relationship and Comments,if any I /nterest Timothy Burns Great Grandson 1/4 share 140 Florence Avenue Oakland, CA 94618 Amy Burns Great Granddaughter 1/4 share 466 Crescent Street,#335 Oakland,CA 94610 FormOC-O2 rev l0./3.06 Page 6 of 10 Name of Trust: Trust under Agreement dated 7/20/1967 by Morrison C. Stayer Name and Address of Each Parry in Interest I Relationship and Comments,if arry I Interest Jenny Burns Great Granddaughter 1/4 share 1113 Ranleigh Way Piedmont, CA 94610 Patrick Burns Great Granddaughter 1/4 share 5653 Maxwelton Road Oakland, CA 94618 B. Identify each party who is not sui juris(e.g., minors or incapacitated persons). For each such party, give date of birth,the name of each Guardian and how each Guardian was appointed. If no Guardian has been appointed, identify the next of kin of such party, giving the name, address and relationship of each; and Not applicable C. If distribution is to be made to the personal representative of a deceased party, state date of death, date and place of grant of Letters and type of Letters granted. Not applicable 16. If Petitioner(s)has/have knowledge that a Trust share has been assigned or attached, provide a copy of the assignment or attachment,together with any relevant supporting documentation. 17. If a trustee's principal commission is claimed: A. If based on a written agreement, attach a copy thereof. FormOC-02 rev l0./3.06 Page 7 of 10 Name of Trust:Trust under Agreement dated 7/20/1967 by Morrison C. Stayer B. If a principal commission is claimed, state amount. C. If a principal commission is claimed, state the amounts and dates of any principal commissions previously paid in prior accounting periods. Amount Date Paid 18. If a reserve is requested, state amount and purpose. Amount: 6�215.00 Pu'p°Se: Martson Law Offices, attorney's fee - $3,500.00 M&T Bank, termination fee- $2,500.00 Filing fees - $215.00 If a reserve is requested for counsel fees, has notice of the amount of fees to be paid from the reserve been given to the parties in interest? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �Yes �No If so, attach a copy of the notice. 19. Is the Court being asked to direct the filing of a Schedule of Distribution? . . . . . . . . . . . . . . . . . . . . . . . . . . �Yes �No Form OC-01 rev/0.13.06 Page 8 of 10 Name of Trust: Trust under Agreement dated 7/20/1967 by Morrison C. Stayer Wherefore, your Petitioner(s) ask(s)that distribution be awarded to the parties entitled and suggest(s)that the distributive shares of income and principal (residuary shares being stated in proportions, not amounts) are as follows: A. Income: Proposed Distributee(s) Amount/Proportron See page 42 of Supplemental Account B. Principal: Proposed Distributee(s) AmoundProportion See page 41 of Supplemental Account Submitted By: (�lU petitioners must sign. Add additional lines if necessary): James A. Smiley,Vice President � me of Petitioner: Manu rers &Traders Trust( Name of Petitioner: Form OC-02 rev lOJ3.06 Page 9 of 10 Name of Trust: Trust under Agreement dated 7/20/1967 by Morrison C. Stayer Verification of Petitioner (Verification must be by at least one petitioner.) The undersigned hereby verifies * [that neisne he is r�rre Vice President of the above-named name ofcorporation Manufacturers &Traders Trust Co. and] that the facts set forth in the foregoing Petition for Adjudication/Statement of Proposed Distribution which are within the personal knowledge of the Petitioner are true, and as to facts based on the information of others,the Petitioner, after diligent inquiry, believes them to be true; and that any false statements herein are made subject to the penalties of 18 Pa. C.S. § 4904 (relating to unsworn falsification to authorities). �� ature of Petitioner *Corporate petitioners must complete bracketed information. Certification of Counsel The undersigned counsel hereby certifies that the foregoing Petition for Adjudication/ Statement of Proposed Distribution is a true and accurate reproduction of the form Petition authorized by the Supreme Court, and that no changes to the form have been made beyond the responses herein. .�� J, Signature of Counsel for Petiti r Form OC-02 rev 10.13.06 Page 10 of 10 ,� , " ` ��.i.� � � �,,� ` � �.�'� y� �>"� ; `2 �` �' s�rf S i, t ?_'� ,°r� `� � � �e.i t � � s e j�.i..�Y ;� �..� � . ;7 $ �� . � , „ � . , ,, $�. ,. , . � _ � , �� V�i.�i.��i F.�,i��siiso� (,i.oaci�,B. E�i_i.��x JH"' J��t+�v t3, ['��v��r-i�-R[Il D:�vii�.1. Firrsi�.i�->tis 1.J�� V 1 � � �.J � V 1),Avi(�.t K. DI:;IRDURP'PT (,[iR15"C(�i HFR I�'. IZI(,3�: '["F3��si�� (.��'u�_i:�tits* SE.iH i' titc»E,Hr�� ]��o V. Cl��o [II Ka�i�F�:J. Nt.�rwi�:ia. 10 E:�:;T E�flr,x��rR��.f�:1� Huur.n�r �., C,u.nc�y� :1:�ao�S. Fin�^vr�s i;:�zr�s�.�, PFv�,sti�i.��.��i.� 1?013 `(�OARD C.F.RTIFIFD C.ML CRIAL SPP.CIALI57' �1f�:1.EPHUNF? (i 17� �=�3-33��1 rBoneo CeR�r�F�ao Wo�uceus'C�ntrevs�T�or+S��ec�e�.isT P-�csiniu.E (71"� 343-1850 � lN'r1�.Rtit:1' �cww.mart�unl:i�v.com �CtObeC 23, 2�14 Mr. Timothy P. Burns Ms. Amy Burns 140 Florence Avenue 466 Crescent Street, #335 Oakland, CA 94618 Oakland, CA 946 t 0 Ms. Jenny Burns Mr. Patrick Burns 1113 Ranleigh Way 5653 Maxwelton Road Piedmont,CA 94610 Oakland, CA 94618 RE: Trust of Morrison C. Stayer Our File No. 7259.384 Dear Messrs. Burns and Mses. Burns: Enclosed is a Notice of Filin�Su�plemental Account and Petition for Adjudication/Statement of Proposed Distribution and Call for Audit or Confirmation and a copy of the Supplemental Account and Petition of Manufacturers and Traders Trust Company,Trustee of the Trust under Agreement dated 7/20/1967 of Morrison C. Stayer. As stated on the Notice,the Account will be presented for c�nfirmation in Court Room No. I of the Cumberland County Courthouse, Carlis(e, PA, at 9:30 a.m. on Tuesday,November 25, 2014. Please contact our office should you have any questi�ns or concerns. Very trul,% yours, MARTSON LAW OFFICES �. , �,:' .�� J� ��-�- Seth T. Mosebey / �,� Enclosures cc: Mr. James A. Smiley, Manufacturers and Traders Trust Company, Trustee (w/enc.) E\FILES\ClientsV259 M&1�7259 TrustV259384 SlayerV2S93A4.accountJtr.notice.wpd I �reo � l�i :arlov ' A � VIca� • t1UVoc � c � ''^:, F:�FILES\Clients\7259 M&TV259 TrustV259384 StayerV259384.accountnotice.wpd : IN THE COURT OF COMMON PLEAS OF IN RE: : CUMBERLAND COUNTY, PENNSYLVANIA TRUST UNDER AGREEMENT DATED . 7/20/1967 OF MORRISON C. STAYER, : ORPHANS' COURT DIVISION : NO. 21-10-0743 NOTICE OF FILING SUPPLEMENTAL ACCOUNT AND PETITION FOR ADJUDICATION/SCHEDULE OF PROPOSED DISTRIBUTION AND CALL FOR AUDIT OR CONFIRMATION NOTICE IS HEREBY GIVEN that Manufacturers and Traders Trust Company,Trustee of the Trust under Agreement dated 7/20/1967 of Morrison C. Stayer, has this date filed the Su�plemental Account and Petition for Adjudication/Schedule of Proposed Distribution in the above-captioned Trust in the Office of the Clerk of the Orphans' Court in and for Cumberland County, Pennsylvania, where the same is filed as public record and may be inspected. Copies of the Supplemental Account and Petition are enclosed for your information. YOU ARE FURTHER NOTIFIED that any exceptions or objections to said Account or Petition must be filed in writing at the office of the Clerk of the Orphans' Court, Cumberland County Courthouse, Carlisle, PA 17013, aforesaid prior to the confirmation of said Account and Schedule of Proposed Distribution scheduled as set forth below. iJNLESS written exceptions or objections are filed prior thereto,said Account will be presented by the Clerk of the Orphans' Court to the above-captioned Court in Court Room No. 1 (the courtroom is subject to change) of the Cumberland County Courthouse, Carlisle, Pennsylvania, at 9:30 a.m. prevailing time, on Tuesday,November 25, 2014, at which time said Account will be confirmed and distribution ordered in accordance with the Petition for Adjudication/Schedule of Proposed Distribution. MARTSON LAW OFFICES By: � Seth T. Mosebey, Esquir 10 East High Street Carlisle, PA 17013 (717) 243-3341 Attorney for Trust of Morrison C. Stayer Date of Notice: ' �� .'� NOTICES TO: Mr. Timothy P. Burns Ms. Amy Burns 140 Florence Avenue 466 Crescent Street, #335 Oakland, CA 94618 Oakland, CA 94610 Ms. Jenny Burns Mr. Patrick Burns 1113 Ranleigh Way 5653 Maxwelton Road Piedmont, CA 94610 Oakland, CA 94618 �� IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PA. ORPHANS' COURT DIVISION No. 21-10-0743 TRUST UNDER AGREEMENT DATED 7/20/67 BY MORRISON C. STAYER F/B/O WANDA STAYER SUPPLEMENTAL ACCOUNT Manufacturers and Traders Trust Company, Trustee Date of First Receipt of Funds: August 11, 1967 Accounting for the period: June 24, 2010 to October l, 2014 Purpose of Account: The Trustee offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information, questions or objections can be discussed with: James A. Smiley, Vice President Manufacturers and Traders Trust Company One West High Street Carlisle, PA 17013 (717) 240-4505 or Martson Law Offices 10 E. High Street Carlisle, PA 17013 ,,_.._� n �_� r c ,.� � ;-?;- p C"� r'� C'> C.7 � C.� �,.� C� �-' C"") _"� :,r7 .�3 - N � G:� : ,. . G� . �':7 � , ` � <:.", --p �� _.�-� . � �7 �,:; __.. ._ c.7 _ t� r�-- r� _r - , j_„ h� � O — 1 — CD '11 � SIINIMARY OF ACCOUNT PAGES PRINCIPAL Receipts 3-4 $ 440,972.25 Net Gain on Sales or Disposition 5-10 189,662.08 $ 630,634.33 Less Disbursements: Fiduciary Fees 11 $ 1,270.29 Federal State & Local Taxes 11-12 12,863.00 General Disbursements 12 2,351.96 Administration - Misc. Exp. 12-13 6,215.00 -22,700.25 Balance before Distributions $ 607,934.08 Distributions to Beneficiaries 14 -243,435.46 Principal Balance on Hand 15 $ 364,498.62 For Information: Investments Made 16-17 Changes in Holdings 18-25 INCOME Receipts 26-35 $ 82,262.44 Less Disbursements 36-39 -48,022.69 Balance before Distributions $ 34,239.75 Income Balance on Hand 40 $ 34,239.75 COMBINED BALANCE ON HAND $ 398,738.37 Proposed Principal Distributions 41 Proposed Income Distributions 42 Verification 43 - 2 - PRINCIPAL RECEIPTS ASSETS RECEIVED FROM FIRST AND FINAL ACCOUNT Common Stocks 1,000 Shs. AT&T Incorporated $ 20, 855.64 700 Shs. Chevron Corporation 8,254.60 217 Shs. Comcast Corporation Class A New 6,010.30 600 Shs. Exxon Mobil Corporation 1,696.64 500 Shs. International Business Machines Corporation 11,108.66 800 Shs. Verizon Communications 5,992.31 Mutual Funds 10,757.672 Shs. MTB Intermediate Term Bond-Inst I Fund #220 105,000.00 10,772.393 Shs. Pimco Total Return Fund I #35 112,252.22 619.631 Shs. Vanguard Institutional Index Fund #94 45, 989.00 11,185.345 Shs. Vanguard Long-Term Corporate Fd #28 105,870.35 $ 423,029.72 Principal Cash 5.20 $ 423,034.92 SUBSEOUENT RECEIPTS CASH 06/24/10 Balance of Reserve for Filing Fees from First and Final Account not used for Purpose Intended $ 1,000.00 FORWARD $ 1,000.00 $ 423,034.92 - 3 - PRINCIPAL RECEIPTS (cont'd) FORWARD $ 1,000.00 $ 423,034.92 SUBSEQUENT RECEIPTS (cont'd) CASH (cont'd) 09/24/10 Transfer from Income - Transfer to Distribute 16,937.33 17, 937.33 TOTAL PRINCIPAL RECEIPTS $ 440,972.25 - 4 - PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS GAIN LOSS 07/23/10 0.0318 Shs. Frontier Communications Corporation Net Proceeds .24 Acquisition Value .06 $ .18 09/21/10 309.815 Shs. Vanguard Institutional Index Fund #94 Net Proceeds 32,536.77 Acquisition Value 22,994.46 9,542.31 09/21/10 5,378.836 Shs. MTB Intermediate Term Bond-Inst I Fund #220 Net Proceeds 58,199.01 Acquisition Value 52,500.00 5,699.01 10/13/10 96 Shs. Frontier Communications Corporation Net Proceeds 795.84 Acquisition Value 189.17 606.67 12/03/10 Long Term Capital Gain Distribution on MTB Intermediate Term Bond-Inst I Fund #220 Net Proceeds 279.70 Acquisition Value .00 279.70 12/09/10 Long Term Capital Gain Distribution on Pimco Total Return Fund I #35 Net Proceeds 911.34 Acquisition Value .00 911.34 12/13/10 284.091 Shs. MTB Intermediate Term Bond-Inst I Fund #220 Net Proceeds 3,000.00 Acquisition Value 2,775.28 224.72 12/05/11 Long Term Capital Gain Distribution on MTB Intermediate Term Bond-Inst I Fund #220 Net Proceeds 953.26 Acquisition Value .00 953.26 FORWARD $ 18,217.19 - 5 - PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd) GAIN LOSS FORWARD $ 18,217.19 12/14/11 92.251 Shs. Pimco Total Return Fund I #35 Net Proceeds 1,000.00 Acquisition Value 962.95 37.05 12/30/11 Long Term Capital Gain Distribution on Vanguard Long-Term Corporate Fd #28 Net Proceeds 464.19 Acquisition Value .00 464.19 04/02/12 Long Term Capital Gain Distribution on Vanguard Long-Term Corporate Fd #28 Net Proceeds 169.14 Acquisition Value .00 169.14 10/24/12 38.589 Shs. Vanguard Institutional Index Fund #94 Net Proceeds 5,000.00 Acquisition Value 2,864.08 2,135.92 12/05/12 Long Term Capital Gain Distribution on Wilmington Intermediate-Term Bond Fund Institutional Shs Net Proceeds 501.64 Acquisition Value .00 501.64 12/13/12 Long Term Capital Gain Distribution on Pimco Total Return Fund I #35 Net Proceeds 681.35 Acquisition Value .00 681.35 12/17/12 94.429 Shs. Wilmington Intermediate-Term Bond Fund Institutional Shs Net Proceeds 1,000.00 Acquisition Value 925.86 74.14 12/31/12 Long Term Capital Gain Distribution on Vanguard Long-Term Corporate Fd #28 Net Proceeds 429.74 Acquisition Value .00 429.74 FORWARD $ 22,710.36 - 6 - PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd) GAIN LOSS FORWARD $ 22,710.36 04/O1/13 Long Term Capital Gain Distribution on Vanguard Long-Term Corporate Fd #28 Net Proceeds 239.35 Acquisition Value .00 239.35 10/21/13 31.264 Shs. Vanguard Institutional Index Fund #94 Net Proceeds 5,000.00 Acquisition Value 2,320.41 2,679.59 10/28/13 50 Shs. Chevron Corporation Net Proceeds 6,015.26 Acquisition Value 589.61 5,425.65 10/28/13 50 Shs. Exxon Mobil Corporation Net Proceeds 4,360.79 Acquisition Value 141.39 4,219.40 10/28/13 50 Shs. International Business Machines Corporation Net Proceeds 8,786.71 Acquisition Value 1,110.87 7,675.84 12/05/13 Long Term Capital Gain Distribution on Wilmington Intermediate-Term Bond Fund Institutional Shs Net Proceeds 1,528.41 Acquisition Value .00 1,528.41 12/12/13 Long Term Capital Gain Distribution on Pimco Total Return Fund I #35 Net Proceeds 367.96 Acquisition Value .00 367.96 12/17/13 50 Shs. Exxon Mobil Corporation Net Proceeds 4,723.28 Acquisition Value 141.39 4,581.89 12/17/13 50 Shs. Chevron Corporation Net Proceeds 6,087.26 Acquisition Value 589.62 5,497.64 FORWARD $ 54,926.09 - 7 - PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd) GAIN LOSS FORWARD $ 54,926.09 12/17/13 50 Shs. International Business Machines Corporation Net Proceeds 8,748.21 Acquisition Value 1,110.87 7,637.34 12/18/13 Long Term Capital Gain Distribution on Vanguard Long-Term Corporate Fd #28 Net Proceeds 291.79 Acquisition Value .00 291.79 03/28/14 880.282 Shs. Federated Strategic Value Fund Net Proceeds 5,176.06 Acquisition Value 5,000.00 176.06 03/28/14 178.955 Shs. Shelton S&P Midcap Index Direct Fund Net Proceeds 5,195.06 Acquisition Value 5,000.00 195.06 03/28/14 239.963 Shs. Vanguard Institutional Index Fund #94 Net Proceeds 40,832.10 Acquisition Value 17,810.05 23,022.05 03/28/14 218.531 Shs. Vanguard S/C Value Index-Inv #860 Net Proceeds 5,159.52 Acquisition Value 5,000.00 159.52 03/28/14 505.051 Shs. Vanguard Value Index Fd Signal #1346 Net Proceeds 15,772.74 Acquisition Value 15,000.00 772.74 03/28/14 546.448 Shs. Federated Ultra Short Bd-Ins Net Proceeds 5,005.46 Acquisition Value 5,000.00 5.46 FORWARD $ 87,186.11 - 8 - PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd) GAIN LOSS FORWARD $ 87,186.11 03/28/14 6,177.491 Shs. Pimco Total Return Fund I #35 Net Proceeds 66,593.35 Acquisition Value 65,115.52 1,477.83 03/28/14 5,751.443 Shs. Vanguard Long-Term Corporate Fd #28 Net Proceeds 58,664.72 Acquisition Value 54,585.92 4,078.80 03/28/14 5,484.647 Shs. Wilmington Intermediate-Term Bond Fund Institutional Shs Net Proceeds 55,230.40 Acquisition Value 53,816.32 1,414.08 03/28/14 73.943 Shs. Harbor International Fund #11 Net Proceeds 5,232.21 Acquisition Value 5.000.00 232.21 04/O1/14 500 Shs. AT&T Incorporated Net Proceeds 17,364.21 Acquisition Value 10,427.82 6,936.39 04/O1/14 250 Shs. Chevron Corporation Net Proceeds 29,351.25 Acquisition Value 2,948.07 26,403.18 04/O1/14 108 Shs. Comcast Corporation Class A New Net Proceeds 5,332.66 Acquisition Value 2.991.30 2,341.36 04/O1/14 200 Shs. Exxon Mobil Corporation Net Proceeds 18,851.10 Acquisition Value 565.54 18,285.56 04/O1/14 150 Shs. International Business Machines Corporation Net Proceeds 28,595.48 Acquisition Value 3,332.59 25,262.89 FORWARD $ 173,618.41 - 9 - PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd) GAIN LOSS FORWARD $ 173,618.41 04/O1/14 400 Shs. Verizon Communications Net Proceeds 18,850.62 Acquisition Value 2,806.95 16,043.67 TOTALS $ 189,662.08 $ .00 ----------------- ----------------- ----------------- ----------------- NET GAIN TRANSFERRED TO SUMMARY $ 189,662.08 ----------------- --------------- - 10 - DISBURSEMENTS OF PRINCIPAL FIDUCIARY FEES Manufacturers and Traders Trust Companv Trustee Fee 07/15/10 $ 417.38 08/16/10 423.89 09/15/10 429.02 $ 1,270.29 $ 1,270.29 FEDERAL STATE & LOCAL TAXES Internal Revenue Service Federal Fiduciarv Income Tax 04/10/14 2013 Balance due $ 5,872.00 06/09/14 2nd Quarter Estimated 2, 937.00 09/10/14 3rd Quarter Estimated 1,469.00 10,278.00 Pennsvlvania Department of Revenue State Fiduciary Income Tax 09/10/10 3rd Quarter Estimated $ 7.00 04/12/11 2010 Balance due 377.00 04/11/12 2011 Balance due 45.00 12/21/12 4th Quarter Estimated 70.00 04/09/13 2012 Balance due 76.00 06/11/13 2nd Quarter Estimated 8.00 09/11/13 3rd Quarter Estimated 4.00 12/23/13 4th Quarter Estimated 88.00 04/10/14 2013 Balance due 1,034.00 06/09/14 2nd Quarter Estimated 568.00 FORWARD $ 2,277.00 $ 10,278.00 $ 1,270.29 - 11 - DISBURSEMENTS OF PRINCIPAL (cont'd) FORWARD $ 2,277.00 $ 10,278.00 $ 1,270.29 FEDERAL STATE & LOCAL TAXES (cont'd) Pennsvlvania Department of Revenue State Fiduciarv Income Tax (cont'd) 09/10/14 3rd Quarter Estimated 308.00 2,585.00 12,863.00 GENERAL DISBURSEMENTS The Arizona Republic - Lecral Advertisinq 06/30/14 Mary Catherine Stayer Burns 50.56 The Buffalo News - Leaal Advertisinq 06/30/14 Mary Catherine Stayer Burns 1,465.80 Buffalo Law Journal - Leaal Advertisinq 06/30/14 Mary Catherine Stayer Burns 171.60 Maricopa Countv Bar Association - Leaal Advertisina 07/22/14 Mary Catherine Stayer Burns 425.00 Transfer to Income 04/12/11 To cover State Estimated Tax Overpayment $ 146.00 04/10/14 To cover State Estimated Tax Overpayment 93.00 239.00 2,351.96 ADMINISTRATION - MISC. EXPENSES RESERVES: Martson Law Firm - Attorney Fee $ 3,500.00 FORWARD $ 3,500.00 $ 16,485.25 - 12 - DISBURSEMENTS OF PRINCIPAL (cont'd) FORWARD $ 3,500.00 $ 16,485.25 ADMINISTRATION - MISC. EXPENSES (cont'd) RESERVES: (cont'd) M&T Bank - Termination Fee 2,500.00 Filing Fees 215.00 6,215.00 6,215.00 TOTAL DISBURSEMENTS OF PRINCIPAL $ 22,700.25 --------------- --------------- - 13 - DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES Thomas K. Staver - 50o share of Assets 09/23/10 500 Shs. AT&T Incorporated $ 10,427.82 09/23/10 350 Shs. Chevron Corporation 4,127.30 09/23/10 109 Shs. Comcast Corporation Class A New 3,019.00 09/23/10 300 Shs. Exxon Mobil Corporation 848.32 09/23/10 96 Shs. Frontier Communications Corporation 189.18 09/23/10 250 Shs. International Business Machines Corporation 5,554.33 09/23/10 400 Shs. Verizon Communications 2,806.95 10/06/10 5,386.197 Shs. Pimco Total Return Fund I #35 56,126.12 10/06/10 5,592.673 Shs. Vanguard Long-Term Corporate Fd #28 52,935.18 $ 136,034.20 Thomas K. Stayer - Distribution per R&R 09/27/10 107,401.26 TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES $ 243,435.46 --------------- --------------- - 14 - PRINCIPAL BALANCE ON HAND FIDUCIARY VALUE AT ACQUISITION 10/O1/2014 VALUE CASH (AUTOMATICALLY INVESTED) $ 364,498.62 $ 364,498.62 TOTAL PRINCIPAL BALANCE ON HAND $ 364,498.62 $ 364,498.62 ------------------ ------------------ ------------------ ------------------ THE ABOVE CASH IS CURRENTLY INVESTED IN Wilmington Prime Money Market Fund Select Shs - 15 - PRINCIPAL INVESTMENTS MADE 12/03/10 52.474 Shs. MTB Intermediate Term Bond-Inst I Fund #220 $ 558.32 12/09/10 268.93 Shs. Pimco Total Return Fund I #35 2,904.45 12/05/11 193.352 Shs. MTB Intermediate Term Bond-Inst I Fund #220 2,014.72 12/30/11 45.199 Shs. Vanguard Long-Term Corporate Fd #28 464.19 04/02/12 16.615 Shs. Vanguard Long-Term Corporate Fd #28 169.14 10/24/12 432.152 Shs. Pimco Total Return Fund I #35 5,000.00 12/05/12 80.445 Shs. Wilmington Intermediate-Term Bond Fund Institutional Shs 854.33 12/13/12 141.693 Shs. Pimco Total Return Fund I #35 1,609.63 12/31/12 44.369 Shs. Vanguard Long-Term Corporate Fd #28 466.28 04/O1/13 22.538 Shs. Vanguard Long-Term Corporate Fd #28 239.35 10/21/13 546.448 Shs. Federated Ultra Short Bd-Ins 5,000.00 10/29/13 505.051 Shs. Vanguard Value Index Fd Signal #1346 15,000.00 12/05/13 158.06 Shs. Wilmington Intermediate-Term Bond Fund Institutional Shs 1,590.09 12/12/13 40.771 Shs. Pimco Total Return Fund I #35 438.29 12/18/13 73.943 Shs. Harbor International Fund #11 5,000.00 12/18/13 218.531 Shs. Vanguard S/C Value Index-Inv #860 5,000.00 FORWARD $ 46,328.79 - 16 - PRINCIPAL INVESTMENTS MADE (cont'd) FORWARD $ 46,328.79 12/18/13 178.955 Shs. Shelton S&P Midcap Index Direct Fund 5,000.00 12/18/13 880.282 Shs. Federated Strategic Value Fund 5,000.00 12/18/13 30.05 Shs. Vanguard Long-Term Corporate Fd #28 291.79 TOTAL PRINCIPAL INVESTMENTS MADE $ 56,620.58 --------------- --------------- - 17 - CHANGES IN PRINCIPAL HOLDINGS ACCOUNT VALUE AT&T Incorporated 1,000 Shs. Received $ 20,855.64 09/23/10 500 Shs. Distributed -10,427.82 500 Shs. $ 10,427.82 04/O1/14 500 Shs. Sold -10,427.82 0 Shs. $ 0.00 Chevron Corporation 700 Shs. Received $ 8,254.60 09/23/10 350 Shs. Distributed -4,127.30 350 Shs. $ 4,127.30 10/28/13 50 Shs. Sold -589.61 300 Shs. $ 3,537.69 12/17/13 50 Shs. Sold -589.62 250 Shs. $ 2,948.07 04/O1/14 250 Shs. Sold -2,948.07 0 Shs. $ 0.00 Comcast Corporation Class A New 217 Shs. Received $ 6,010.30 09/23/10 109 Shs. Distributed -3,019.00 108 Shs. $ 2,991.30 04/O1/14 108 Shs. Sold -2, 991.30 0 Shs. $ 0.00 --------------------- ------------------ - 18 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Exxon Mobil Corporation 600 Shs. Received $ 1,696.64 09/23/10 300 Shs. Distributed -848.32 300 Shs. $ 848.32 10/28/13 50 Shs. Sold -141.39 250 Shs. $ 706.93 12/17/13 50 Shs. Sold -141.39 200 Shs. $ 565.54 04/O1/14 200 Shs. Sold -565.54 0 Shs. $ 0.00 --------------------- --------------------- ------------------ ------------------ Federated Stratecric Value Fund 12/18/13 880.282 Shs. Purchased $ 5,000.00 03/28/14 880.282 Shs. Sold -5,000.00 0.0 Shs. $ 0.00 --------------------- --------------------- ------------------ ------------------ Federated Ultra Short Bd-Ins 10/21/13 546.448 Shs. Purchased $ 5,000.00 03/28/14 546.448 Shs. Sold -5,000.00 0.0 Shs. $ 0.00 --------------------- - 19 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Frontier Communications Corporation 07/02/10 192.0318 Shs. Received from Spinoff of Verizon Communications at the rate of 0.24003973 shares $ 378.41 07/23/10 0.0318 Shs. Sold -0.06 192 Shs. $ 378.35 09/23/10 96 Shs. Distributed -189.18 96 Shs. $ 189.17 10/13/10 96 Shs. Sold -189.17 0 Shs. $ 0.00 --------------------- ------------------ --------------------- ------------------ Harbor International Fund #11 12/18/13 73 .943 Shs. Purchased $ 5,000.00 03/28/14 73.943 Shs. Sold -5,000.00 0.0 Shs. $ 0.00 International Business Machines Corporation 500 Shs. Received $ 11,108.66 09/23/10 250 Shs. Distributed -5,554.33 250 Shs. $ 5,554.33 10/28/13 50 Shs. Sold -1,110.87 200 Shs. $ 4,443.46 12/17/13 50 Shs. Sold -1, 110.87 150 Shs. $ 3,332.59 04/O1/14 150 Shs. Sold -3,332.59 0 Shs. $ 0.00 ------------------ - 20 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE MTB Intermediate Term Bond-Inst I Fund #220 10,757.672 Shs. Received $ 105,000.00 09/21/10 5,378.836 Shs. Sold -52,500.00 5,378.836 Shs. $ 52,500.00 12/03/10 52.474 Shs. Reinvested Capital Gain 558.32 5,431.31 Shs. $ 53,058.32 12/03/10 Long Term Capital Gain Distribution 0.00 5,431.31 Shs. $ 53,058.32 12/13/10 284.091 Shs. Sold -2,775.28 5,147.219 Shs. $ 50,283.04 12/05/11 193.352 Shs. Reinvested Capital Gain 2,014.72 5,340.571 Shs. $ 52,297.76 12/05/11 Long Term Capital Gain Distribution 0.00 5,340.571 Shs. $ 52,297.76 03/12/12 5,340.571 Shs. Name changed to Wilmington Intermediate-Term Bond Fund Institutional Shs -52,297.76 0.0 Shs. $ 0.00 Wilminqton Intermediate-Term Bond Fund Institutional Shs 03/12/12 5,340.571 Shs. Name changed from MTB Intermediate Term Bond-Inst I Fund #220 $ 52,297.76 12/05/12 80.445 Shs. Reinvested Capital Gain 854.33 5,421.016 5hs. $ 53,152.09 12/05/12 Long Term Capital Gain Distribution 0.00 5,421.016 Shs. $ 53,152.09 12/17/12 94.429 Shs. Sold -925.86 5,326.587 Shs. $ 52,226.23 - 21 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Wilminqton Intermediate-Term Bond Fund Institutional Shs (cont'd) 12/05/13 158.06 Shs. Reinvested Capital Gain $ 1,590.09 5,484.647 Shs. $ 53,816.32 12/05/13 Long Term Capital Gain Distribution 0.00 5,484.647 Shs. $ 53,816.32 03/28/14 5,484.647 Shs. Sold -53,816.32 0.0 Shs. $ 0.00 --------------------- ------------------ --------------------- ------------------ Pimco Total Return Fund I #35 10,772.393 Shs. Received $ 112,252.22 10/06/10 5,386.197 Shs. Distributed -56,126.12 5,386.196 Shs. $ 56,126.10 12/09/10 268.93 Shs. Reinvested Capital Gain 2, 904.45 5,655.126 Shs. $ 59,030.55 12/09/10 Long Term Capital Gain Distribution 0.00 5,655.126 Shs. $ 59,030.55 12/14/11 92.251 Shs. Sold -962.95 5,562.875 Shs. $ 58,067.60 10/24/12 432.152 Shs. Purchased 5,000.00 5,995.027 Shs. $ 63,067.60 12/13/12 141.693 Shs. Reinvested Capital Gain 1,609.63 6,136.72 Shs. $ 64,677.23 12/13/12 Long Term Capital Gain Distribution 0.00 6,136.72 Shs. $ 64,677.23 12/12/13 40.771 Shs. Reinvested Capital Gain 438.29 6,177.491 Shs. $ 65,115.52 12/12/13 Long Term Capital Gain Distribution 0.00 6,177.491 Shs. $ 65,115.52 - 22 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Pimco Total Return Fund I #35 (cont'd) 03/28/14 6,177.491 Shs. Sold S -65,115.52 0.0 Shs. $ 0.00 Shelton S&P Midcap Index Direct Fund 12/18/13 178.955 Shs. Purchased $ 5,000.00 03/28/14 178.955 Shs. Sold -5,000.00 0.0 Shs. $ 0.00 ------------------ Vanauard Institutional Index Fund #94 619.631 Shs. Received $ 45,989.00 09/21/10 309.815 Shs. Sold -22,994.46 309.816 Shs. $ 22,994.54 10/24/12 38.589 Shs. Sold -2,864.08 271.227 Shs. $ 20,130.46 10/21/13 31.264 Shs. Sold -2,320.41 239.963 Shs. $ 17,810.05 03/28/14 239.963 Shs. Sold -17, 810.05 0.0 Shs. $ 0.00 ------------------ --------------------- ------------------ --------------------- - 23 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Vancfuard Lonq-Term Corporate Fd #28 11, 185.345 Shs. Received $ 105,870.35 10/06/10 5,592.673 Shs. Distributed -52,935.18 5,592.672 Shs. $ 52,935.17 12/30/11 45.199 Shs. Reinvested Capital Gain 464.19 5,637.871 Shs. $ 53,399.36 12/30/11 Long Term Capital Gain Distribution 0.00 5,637.871 Shs. $ 53,399.36 04/02/12 16.615 Shs. Reinvested Capital Gain 169.14 5,654.486 Shs. $ 53,568.50 04/02/12 Long Term Capital Gain Distribution 0.00 5,654.486 Shs. $ 53,568.50 12/31/12 44.369 Shs. Reinvested Capital Gain 486.28 5,698.855 Shs. $ 54,054.78 12/31/12 Long Term Capital Gain Distribution 0.00 5,698.855 Shs. $ 54,054.78 04/O1/13 22.538 Shs. Reinvested Capital Gain 239.35 5,721.393 Shs. $ 54,294.13 04/O1/13 Long Term Capital Gain Distribution 0.00 5,721.393 Shs. $ 54,294.13 12/18/13 30.05 Shs. Reinvested Capital Gain 291.79 5,751.443 Shs. $ 54,585.92 12/18/13 Long Term Capital Gain Distribution 0.00 5,751.443 Shs. $ 54,585.92 03/28/14 5,751.443 Shs. Sold -54,585.92 0.0 Shs. $ 0.00 - 24 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Vanquard S/C Value Index-Inv #860 12/18/13 218.531 Shs. Purchased $ 5,000.00 03/28/14 218.531 Shs. Sold -5,000.00 0.0 Shs. $ 0.00 Vanauard Value Index Fd SiQnal #1346 10/29/13 505.051 Shs. Purchased $ 15,000.00 03/28/14 505.051 Shs. Sold -15,000.00 0.0 Shs. $ 0.00 --------------------- ------------------ --------------------- ------------------ Verizon Communications 800 Shs. Received $ 5,992.31 07/02/10 0 Shs. Reduce Book Value from Spinoff of 192.0318 shares Frontier Communications Corporation -378.41 800 Shs. $ 5,613.90 09/23/10 400 Shs. Distributed -2,806.95 400 Shs. $ 2,806.95 04/O1/14 400 Shs. Sold -2,806.95 0 Shs. $ 0.00 - 25 - RECEIPTS OF INCOME Prior Award: ASSETS RECEIVED FROM FIRST AND FINAL ACCOUNT Income Cash $ 29,403.20 AT&T Incorporated 08/02/10 Dividend 1,000 Shs. $ 420.00 11/O1/10 Dividend 500 Shs. 210.00 02/O1/11 Dividend 500 Shs. 215.00 05/02/11 Dividend 500 Shs. 215.00 08/01/11 Dividend 500 Shs. 215.00 11/O1/11 Dividend 500 Shs. 215.00 02/O1/12 Dividend 500 Shs. 220.00 05/O1/12 Dividend 500 Shs. 220.00 08/O1/12 Dividend 500 Shs. 220.00 il/O1/12 Dividend 500 Shs. 220.00 02/Ol/13 Dividend 500 Shs. 225.00 05/O1/13 Dividend 500 Shs. 225.00 08/O1/13 Dividend 500 Shs. 225.00 11/Ol/13 Dividend 500 Shs. 225.00 02/03/14 Dividend 500 Shs. 230.00 3,500.00 Chevron Corporation 09/10/10 Dividend 700 Shs. $ 504.00 12/10/10 Dividend 350 Shs. 252.00 03/10/11 Dividend 350 Shs. 252.00 06/10/11 Dividend 350 Shs. 273 .00 09/12/11 Dividend 350 Shs. 273.00 12/12/11 Dividend 350 Shs. 283.50 03/12/12 Dividend 350 Shs. 283 .50 06/11/12 Dividend 350 Shs. 315.00 09/10/12 Dividend 350 Shs. 315.00 12/10/12 Dividend 350 Shs. 315.00 03/11/13 Dividend 350 Shs. 315.00 06/10/13 Dividend 350 Shs. 350.00 09/10/13 Dividend 350 Shs. 350.00 12/10/13 Dividend 300 Shs. 300.00 03/10/14 Dividend 250 Shs. 250.00 4,631.00 Comcast Corporation Class A New 07/28/10 Dividend 217 Shs. $ 20.51 10/27/10 Dividend 108 Shs. 10.21 FORWARD $ 30.72 $ 37,534.20 - 26 - RECEIPTS OF INCOME (cont'd) FORWARD $ 30.72 $ 37,534.20 Comcast Corporation Class A New (cont'd) O1/26/11 Dividend 108 Shs. 10.21 04/27/11 Dividend 108 Shs. 12.15 07/27/11 Dividend 108 Shs. 12.15 10/26/11 Dividend 108 Shs. 12.15 O1/25/12 Dividend 108 Shs. 12.15 04/25/12 Dividend 108 Shs. 17.55 07/25/12 Dividend 108 Shs. 17.55 10/24/12 Dividend 108 Shs. 17.55 O1/23/13 Dividend 108 Shs. 17.55 04/24/13 Dividend 108 Shs. 21.06 07/24/13 Dividend 108 Shs. 21.06 10/23/13 Dividend 108 Shs. 21.06 O1/23/14 Dividend 108 Shs. 21.06 243.97 Exxon Mobil Corporation 09/10/10 Dividend 600 Shs. $ 264.00 12/10/10 Dividend 300 Shs. 132.00 03/10/11 Dividend 300 Shs. 132.00 06/10/11 Dividend 300 Shs. 141.00 09/09/11 Dividend 300 Shs. 141.00 12/09/11 Dividend 300 Shs. 141.00 03/09/12 Dividend 300 Shs. 141.00 06/11/12 Dividend 300 Shs. 171.00 09/10/12 Dividend 300 Shs. 171.00 12/10/12 Dividend 300 Shs. 171.00 03/11/13 Dividend 300 Shs. 171.00 06/10/13 Dividend 300 Shs. 189.00 09/10/13 Dividend 300 Shs. 189.00 12/10/13 Dividend 250 Shs. 157.50 03/10/14 Dividend 200 Shs. 126.00 2,437.50 Federated Strateqic Value Fund 12/27/13 Dividend 880.282 Shs. $ 20.77 Ol/31/14 Dividend 880.282 Shs. 7.83 02/28/14 Dividend 880.282 Shs. 113.38 141.98 Federated Ultra Short Bd-Ins 11/O1/13 Dividend 546.448 Shs. $ 2.01 12/02/13 Dividend 546.448 Shs. 5.77 FORWARD $ 7.78 $ 40,357.65 - 27 - RECEIPTS OF INCOME (cont'd) FORWARD $ 7.78 $ 40,357.65 Federated Ultra Short Bd-Ins (cont'd) 12/31/13 Dividend 546.448 Shs. 2.95 Ol/02/14 Dividend 546.448 Shs. 5.65 02/03/14 Dividend 546.448 Shs. 4.77 03/03/14 Dividend 546.448 Shs. 4.03 04/O1/14 Dividend 546.448 Shs. 3.49 28.67 Frontier Communications Corporation 09/30/10 Dividend 96 Shs. 36.00 International Business Machines Corporation 09/10/10 Dividend 500 Shs. $ 325.00 12/10/10 Dividend 250 Shs. 162.50 03/11/11 Dividend 250 Shs. 162.50 06/13/11 Dividend 250 Shs. 187.50 09/12/11 Dividend 250 Shs. 187.50 12/12/11 Dividend 250 Shs. 187.50 03/12/12 Dividend 250 Shs. 187.50 06/11/12 Dividend 250 Shs. 212.50 09/10/12 Dividend 250 Shs. 212.50 12/10/12 Dividend 250 Shs. 212.50 03/11/13 Dividend 250 Shs. 212.50 06/10/13 Dividend 250 Shs. 237.50 09/10/13 Dividend 250 Shs. 237.50 12/10/13 Dividend 200 Shs. 190.00 03/10/14 Dividend 150 Shs. 142.50 3,057.50 MTB Intermediate Term Bond-Inst I Fund 220 07/Ol/10 Dividend 10,757.672 Shs. $ 390.30 08/02/10 Dividend 10,757.672 Shs. 374.90 09/Ol/10 Dividend 10,757.672 Shs. 332.71 10/O1/10 Dividend 5,378.836 Shs. 277.65 11/O1/10 Dividend 5,378.836 Shs. 173.34 12/O1/10 Dividend 5,378.836 Shs. 162.22 12/03/10 Short Term Capital Gain Distribution 278.62 O1/03/11 Dividend 5,147.219 Shs. 160.35 02/01/11 Dividend 5,147.219 Shs. 160.76 03/O1/11 Dividend 5,147.219 Shs. 151.49 FORWARD $ 2,462.34 $ 43,479.82 - 28 - RECEIPTS OF INCOME (cont'd) FORWARD $ 2,462.34 $ 43,479.82 MTB Intermediate Term Bond-Inst I Fund #220 (cont'd) 04/O1/il Dividend 5,147.219 Shs. 173.08 OS/02/11 Dividend 5,147.219 Shs. 161.45 06/O1/11 Dividend 5,147.219 Shs. 160.00 07/O1/11 Dividend 5,147.219 Shs. 146.80 08/O1/11 Dividend 5,147.219 Shs. 132.15 09/O1/11 Dividend 5,147.219 Shs. 119.54 10/03/11 Dividend 5,147.219 Shs. 118.37 11/O1/11 Dividend 5,147.219 Shs. 126.86 12/O1/11 Dividend 5,147.219 Shs. 119.67 12/05/11 Short Term Capital Gain Distribution 1,061.46 O1/03/12 Dividend 5,340.571 Shs. 108.01 02/O1/12 Dividend 5,340.571 Shs. 106.27 03/02/12 Dividend 5,340.571 Shs. 95.57 5,091.57 MTB Prime Monev Market-Inst I Fund #142 07/O1/10 Interest $ 1.20 08/02/10 Interest 1.54 09/O1/10 Interest 1.84 10/O1/10 Interest 2.58 11/01/10 Interest 0.90 12/O1/10 Interest 0.89 O1/03/11 Interest 1.10 02/O1/11 Interest 0.93 03/O1/11 Interest 0.84 04/O1/11 Interest 0.93 OS/02/11 Interest 0.93 06/O1/11 Interest 0.84 07/O1/11 Interest 0.60 08/O1/11 Interest 0.62 09/O1/11 Interest 0.62 10/03/11 Interest 0.72 11/Ol/11 Interest 0.63 12/O1/11 Interest 0.61 O1/03/12 Interest 1.22 01/03/12 Rate Adjustment for December 2011 0.05 02/O1/12 Interest 0.68 03/O1/12 Interest 0.87 04/02/12 Interest 0.33 21.47 FORWARD $ 48,592.86 - 29 - RECEIPTS OF INCOME (cont'd) FORWARD $ 48,592.86 Pimco Total Return Fund I #35 07/O1/10 Dividend 10,772.393 Shs. $ 310.65 08/02/10 Dividend 10,772.393 Shs. 332.49 09/Ol/10 Dividend 10,772.393 Shs. 308.68 10/01/10 Dividend 10,772.393 Shs. 316.99 11/O1/10 Dividend 5,386.196 Shs. 190.79 12/01/10 Dividend 5,386.196 Shs. 179.14 12/09/10 Short Term Capital Gain Distribution 1, 993.11 Ol/04/11 Dividend 5,655.126 Shs. 197.30 02/O1/11 Dividend 5,655.126 Shs. 162.77 03/02/11 Dividend 5,655.126 Shs. 168.66 04/O1/11 Dividend 5,655.126 Shs. 175.08 05/02/11 Dividend 5,655.126 Shs. 176.62 06/Ol/11 Dividend 5,655.126 Shs. 177.64 07/O1/11 Dividend 5,655.126 Shs. 169.68 08/O1/11 Dividend 5,655.126 Shs. 160.08 09/O1/11 Dividend 5,655.126 Shs. 149.96 10/03/11 Dividend 5,655.126 Shs. 169.42 11/Ol/11 Dividend 5,655.126 Shs. 168.03 12/Ol/11 Dividend 5,655.126 Shs. 182.12 12/29/11 Dividend 5,562.875 Shs. 361.92 O1/03/12 Dividend 5,562.875 Shs. 177.60 02/O1/12 Dividend 5,562.875 Shs. 167.03 03/02/12 Dividend 5,562.875 Shs. 155.97 04/03/12 Dividend 5,562.875 Shs. 192.33 05/O1/12 Dividend 5,562.875 Shs. 177.98 06/O1/12 Dividend 5,562.875 Shs. 197.50 07/02/12 Dividend 5,562.875 Shs. 176.20 08/O1/12 Dividend 5,562.875 Shs. 142.80 09/04/12 Dividend 5,562.875 Shs. 153.88 10/O1/12 Dividend 5,562.875 Shs. 124.41 11/02/12 Dividend 5,995.027 Shs. 186.26 12/03/12 Dividend 5,995.027 Shs. 201.69 12/13/12 Short Term Capital Gain Distribution 928.28 12/28/12 Dividend 6,136.72 Shs. 701.30 Ol/02/13 Dividend 6,136.72 Shs. 154.10 02/O1/13 Dividend 6,136.72 Shs. 116.11 03/O1/13 Dividend 6,136.72 Shs. 130.72 04/O1/13 Dividend 6,136.72 Shs. 167.07 05/01/13 Dividend 6,136.72 Shs. 197.64 06/03/13 Dividend 6,136.72 Shs. 163.55 07/O1/13 Dividend 6,136.72 Shs. 112.22 08/O1/13 Dividend 6,136.72 Shs. 138.76 09/03/13 Dividend 6,136.72 Shs. 147.59 FORWARD $ 11,062.12 $ 48,592.86 - 30 - RECEIPTS OF INCOME (cont'd) FORWARD $ 11,062.12 $ 48,592.86 Pimco Total Return Fund I #35 (cont'd) 10/O1/13 Dividend 6,136.72 Shs. 114.66 11/O1/13 Dividend 6,136.72 Shs. 129.28 12/02/13 Dividend 6,136.72 Shs. 123.48 12/12/13 Short Term Capital Gain Distribution 70.33 O1/02/14 Dividend 6,177.491 Shs. 89.02 02/03/14 Dividend 6,177.491 Shs. 90.10 03/03/14 Dividend 6,177.491 Shs. 98.47 04/O1/14 Dividend 6,177.491 Shs. 99.49 11,876.95 Shelton S&P Midcap Index Direct Fund O1/02/14 Dividend 178.955 Shs. 16.50 Transfer from Principal 04/12/11 To cover State Estimated Tax Overpayment $ 146.00 04/10/14 To cover State Estimated Tax Overpayment 93.00 239.00 Vanquard Institutional Index Fund #94 06/29/10 Dividend 619.631 Shs. $ 319.11 09/28/10 Dividend 309.816 Shs. 172.88 12/29/10 Dividend 309.816 Shs. 181.86 03/31/11 Dividend 309.816 Shs. 166.06 06/30/11 Dividend 309.816 Shs. 172.26 09/30/11 Dividend 309.816 Shs. 182.79 12/28/11 Dividend 309.816 Shs. 210.06 03/30/12 Dividend 309.816 Shs. 176.90 06/29/12 Dividend 309.816 Shs. 195.80 09/28/12 Dividend 309.816 Shs. 220.28 12/27/12 Dividend 271.227 Shs. 248.44 03/28/13 Dividend 271.227 Shs. 181.99 06/28/13 Dividend 271.227 Shs. 211.83 09/27/13 Dividend 271.227 Shs. 212.37 12/27/13 Dividend 239.963 Shs. 214.05 3,066.68 Vanquard Lonq-Term Corporate Fd #28 07/O1/10 Dividend 11,185.345 Shs. $ 481.56 08/02/10 Dividend 11,185.345 Shs. 495.08 09/O1/10 Dividend 11,185.345 Shs. 494.91 10/O1/10 Dividend 11,185.345 Shs. 475.31 FORWARD $ 1,946.86 $ 63,791.99 - 31 - RECEIPTS OF INCOME (cont'd) FORWARD $ 1,946.86 $ 63,791.99 Vanauard Lona-Term Corporate Fd #28 (cont'd) 11/O1/10 Dividend 5,592.672 Shs. 278.57 12/O1/10 Dividend 5,592.672 Shs. 238.97 O1/04/11 Dividend 5,592.672 Shs. 248.06 02/O1/11 Dividend 5,592.672 Shs. 248.34 03/02/11 Dividend 5,592.672 Shs. 225.38 04/O1/11 Dividend 5,592.672 Shs. 250.19 05/02/11 Dividend 5,592.672 Shs. 241.71 06/O1/11 Dividend 5,592.672 Shs. 249.56 07/O1/11 Dividend 5,592.672 Shs. 241.18 08/O1/11 Dividend 5,592.672 Shs. 249.42 09/Ol/11 Dividend 5,592.672 Shs. 247.32 10/03/11 Dividend 5,592.672 Shs. 238.14 11/O1/11 Dividend 5,592.672 Shs. 245.44 12/02/11 Dividend 5,592.672 Shs. 237.75 O1/03/12 Dividend 5,637.871 Shs. 245.32 02/O1/12 Dividend 5,637.871 Shs. 243.75 03/02/12 Dividend 5,637.871 Shs. 227.70 04/02/12 Dividend 5,637.871 Shs. 243.55 05/O1/12 Dividend 5,654.486 Shs. 233.75 06/O1/12 Dividend 5,654.486 Shs. 243.99 07/02/12 Dividend 5,654.486 Shs. 235.16 08/O1/12 Dividend 5,654.486 Shs. 240.32 09/04/12 Dividend 5,654.486 Shs. 235.60 10/O1/12 Dividend 5,654.486 Shs. 229.38 11/02/12 Dividend 5,654.486 Shs. 237.09 12/03/12 Dividend 5,654.486 Shs. 226.97 12/31/12 Short Term Capital Gain Distribution 56.54 O1/03/13 Dividend 5,698.855 Shs. 234.39 02/OS/13 Dividend 5,698.855 Shs. 236.81 03/O1/13 Dividend 5,698.855 Shs. 215.46 04/Ol/13 Dividend 5,698.855 Shs. 237.41 05/O1/13 Dividend 5,721.393 Shs. 227.79 06/03/13 Dividend 5,721.393 Shs. 234.10 07/Ol/13 Dividend 5,721.393 Shs. 227.89 08/O1/13 Dividend 5,721.393 Shs. 233.59 09/03/13 Dividend 5,721.393 Shs. 232.35 10/Ol/13 Dividend 5,721.393 Shs. 225.02 11/O1/13 Dividend 5,721.393 Shs. 233 .10 12/02/13 Dividend 5,721.393 Shs. 224.72 O1/02/14 Dividend 5,751.443 Shs. 232.05 02/03/14 Dividend 5,751.443 Shs. 230.91 03/04/14 Dividend 5,751.443 Shs. 209.82 FORWARD $ 11,721.42 $ 63,791.99 - 32 - RECEIPTS OF INCOME (cont'd) FORWARD $ 11,721.42 $ 63,791.99 Vanquard Lona-Term Corporate Fd #28 (cont'd) 04/O1/14 Dividend 5, 751.443 Shs. 204.66 11,926.08 Vanquard S/C Value Index-Inv #860 12/24/13 Dividend 218.531 Shs. $ 86.54 03/25/14 Dividend 218.531 Shs. 0.87 87.41 Vanquard Value Index Fd Sianal #1346 12/24/13 Dividend 505.051 Shs. $ 101.01 03/25/14 Dividend 505.051 Shs. 87.88 188.89 Verizon Communications 08/02/10 Dividend 800 Shs. $ 380.00 11/O1/10 Dividend 400 Shs. 195.00 02/O1/11 Dividend 400 Shs. 195.00 05/02/11 Dividend 400 Shs. 195.00 08/O1/11 Dividend 400 Shs. 195.00 11/O1/11 Dividend 400 Shs. 200.00 02/O1/12 Dividend 400 Shs. 200.00 05/O1/12 Dividend 400 Shs. 200.00 08/O1/12 Dividend 400 Shs. 200.00 11/O1/12 Dividend 400 Shs. 206.00 02/O1/13 Dividend 400 Shs. 206.00 OS/O1/13 Dividend 400 Shs. 206.00 08/O1/13 Dividend 400 Shs. 206.00 11/O1/13 Dividend 400 Shs. 212.00 02/03/14 Dividend 400 Shs. 212.00 3,208.00 Wilminqton Intermediate-Term Bond Fund Institutional Shs 04/03/12 Dividend 5,340.571 Shs. $ 120.99 05/O1/12 Dividend 5,340.571 Shs. 117.46 06/O1/12 Dividend 5,340.571 Shs. 114.92 07/02/12 Dividend 5,340.571 Shs. 103.99 08/O1/12 Dividend 5,340.571 Shs. 104.37 09/04/12 Dividend 5,340.571 Shs. 103.63 10/O1/12 Dividend 5,340.571 Shs. 97.51 11/O1/12 Dividend 5,340.571 Shs. 102.76 12/03/12 Dividend 5,340.571 Shs. 98.46 FORWARD $ 964.09 $ 79,202.37 - 33 - RECEIPTS OF INCOME (cont'd) FORWARD $ 964.09 $ 79,202.37 Wilminaton Intermediate-Term Bond Fund Institutional Shs (cont'd) 12/OS/12 Short Term Capital Gain Distribution 352.69 O1/02/13 Dividend 5,326.587 Shs. 95.33 02/05/13 Dividend 5,326.587 Shs. 92.29 03/O1/13 Dividend 5,326.587 Shs. 81.77 03/14/13 Credit against Trustee's Fee 19.21 04/O1/13 Dividend 5,326.587 Shs. 93.62 04/22/13 Credit against Trustee's Fee 20.25 05/Ol/13 Dividend 5,326.587 Shs. 94.26 05/07/13 Credit against Trustee's Fee 19.47 06/03/13 Dividend 5,326.587 Shs. 92.08 06/11/13 Credit against Trustee's Fee 20.81 07/01/13 Dividend 5,326.587 Shs. 83.10 07/15/13 Credit against Trustee's Fee 19.60 08/O1/13 Dividend 5,326.587 Shs. 86.01 08/07/13 Credit against Trustee's Fee 19.91 09/03/13 Dividend 5,326.587 Shs. 84.56 09/09/13 Credit against Trustee's Fee 19.69 10/Ol/13 Dividend 5,326.587 Shs. 78.01 10/02/13 Credit against Trustee's Fee 18.81 11/O1/13 Dividend 5,326.587 Shs. 79.89 11/13/13 Credit against Trustee's Fee 20.78 12/02/13 Dividend 5,326.587 Shs. 79.15 12/04/13 Credit against Trustee's Fee 20.58 12/05/13 Short Term Capital Gain Distribution 61.68 O1/02/14 Dividend 5,484.647 Shs. 83 .17 O1/08/14 Credit against Trustee's Fee 21.01 02/03/14 Dividend 5,484.647 Shs. 88.19 02/10/14 Credit against Trustee's Fee 20.86 03/04/14 Dividend 5,484.647 Shs. 80.10 03/10/14 Credit against Trustee's Fee 19.21 04/O1/14 Dividend 5,484.647 Shs. 75.43 04/04/14 Credit against Trustee's Fee 18.36 3,023.97 Wilminqton Prime Monev Market Fund Select Shs 04/02/12 Interest $ 0.60 05/O1/12 Interest 0.91 06/O1/12 Interest 0.93 07/02/12 Interest 0.93 OS/O1/12 Interest 0.86 FORWARD $ 4.23 $ 82,226.34 - 34 - RECEIPTS OF INCOME (cont'd) FORWARD $ 4.23 $ 82,226.34 Wilminaton Prime Monev Market Fund Select Shs (cont'd) 09/04/12 Interest 0.92 10/O1/12 Interest 0.90 11/Ol/12 Interest 0.92 12/03/12 Interest 0.95 O1/02/13 Interest 0.90 02/O1/13 Interest 0.70 03/O1/13 Interest 0.57 04/O1/13 Interest 0.62 05/O1/13 Interest 0.60 06/03/13 Interest 0.49 07/O1/13 Interest 0.29 08/O1/13 Interest 0.30 09/03/13 Interest 0.31 10/O1/13 Interest 0.30 11/O1/13 Interest 0.36 12/02/13 Interest 0.31 O1/02/14 Interest 0.48 02/03/14 Interest 0.33 03/03/14 Interest 0.28 04/O1/14 Interest 0.61 O5/O1/14 Interest 3 .90 06/02/14 Interest 3 .41 07/O1/14 Interest 3.30 08/O1/14 Interest 3.41 09/02/14 Interest 3.52 10/O1/14 Interest 3.19 36.10 TOTAL RECEIPTS OF INCOME $ 82,262.44 ------------- - 35 - DISBURSEMENTS OF INCOME Manufacturers and Traders Trust Company Trustee Fee 07/15/10 $ 215.01 08/16/10 218.36 09/15/10 221.01 10/03/11 5,369.43 10/17/11 423.80 11/15/11 429.05 12/15/11 427.95 O1/17/12 433.86 02/15/12 440.21 03/15/12 445.77 04/16/12 441.75 05/15/12 444.90 06/15/12 446.50 07/16/12 450.77 OS/15/12 458.45 09/17/12 465.11 10/15/12 464.63 11/15/12 452.80 12/17/12 458.54 O1/15/13 461.36 02/15/13 465.41 $ 13,634.67 FORWARD $ 13,634.67 - 36 - DISBURSEMENTS OF INCOME (cont'd) FORWARD $ 13,634.67 Manufacturers and Traders Trust Companv - Market Value Fee 03/15/13 $ 621.10 04/15/13 626.50 05/15/13 626.63 06/17/13 614.60 07/15/13 609.55 08/15/13 602.78 09/16/13 602.34 10/15/13 600.94 11/15/13 609.65 12/16/13 605.11 O1/15/14 613.78 02/18/14 611.73 03/17/14 612.62 04/15/14 607.65 05/15/14 606.77 06/16/14 600.06 07/15/14 596.72 08/15/14 595.24 09/15/14 591.42 11,555.19 FORWARD $ 25,189.86 - 37 - DISBURSEMENTS OF INCOME (cont'd) FORWARD $ 25,189.86 Martson Law Offices - Leaal Fee 09/14/11 $ 1,740.00 06/06/13 299.00 2,039.00 Internal Revenue Service Federal Fiduciarv Income Tax 04/09/13 2012 Balance due $ 267.00 04/10/13 lst Quarter Estimated 268.00 04/10/14 2013 Balance due 415.00 06/09/14 2nd Quarter Estimated 341.00 09/10/14 3rd Quarter Estimated 170.00 1,461.00 Pennsvlvania Department of Revenue State Fiduciary Income Tax 09/10/10 3rd Quarter Estimated $ 146.00 04/11/12 2011 Balance due 387.00 12/21/12 4th Quarter Estimated 287.00 04/09/13 2012 Balance due 92.00 04/10/13 lst Quarter Estimated 38.00 06/11/13 2nd Quarter Estimated 80.00 09/11/13 3rd Quarter Estimated 84.00 12/23/13 4th Quarter Estimated 226.00 FORWARD $ 1,340.00 $ 28,689.86 - 38 - DISBURSEMENTS OF INCOME (cont'd) FORWARD $ 1,340.00 $ 28,689.86 Pennsvlvania Department of Revenue State Fiduciary Income Tax (cont'd) 04/10/14 lst Quarter Estimated 60.00 06/09/14 2nd Quarter Estimated 154.00 09/10/14 3rd Quarter Estimated 83.00 1,637.00 Transfer to Principal 09/24/10 Transfer to Distribute 16,937.33 Cumberland Countv Reqister of Wills 07/21/10 Filing of First and Final Account 758.50 TOTAL DISBURSEMENTS OF INCOME $ 48,022.69 -------------- -------------- - 39 - INCOME BALANCE ON HAND FIDUCIARY VALUE AT ACQUISITION 10/O1/2014 VALUE CASH (AUTOMATICALLY INVESTED) $ 34,239.75 $ 34,239.75 TOTAL INCOME BALANCE ON HAND $ 34,239.75 $ 34,239.75 THE ABOVE CASH IS CURRENTLY INVESTED IN Wilmington Prime Money Market Fund Select Shs Manufacturers and Traders Trust Company BY � J es A. Smiley, Vice sident Trustee under Agreement with Morrison C. Stayer, Deceased - 40 - PROPOSED PRINCIPAL DISTRIBUTION SCHEDULE Market Value Fiduciary as of Acquisition 10/01/2014 Value T0: Timothv P. Burns - 1/4th share of Residue Principal Cash $ 91,124.66 $ 91,124.66 $ 91,124.66 $ 91,124.66 T0: Amv Burns - 1/4th share of Residue Principal Cash $ 91,124.66 $ 91,124.66 91,124.66 91,124.66 TO: Patrick Burns - 1/4th share of Residue Principal Cash $ 91,124.65 $ 91,124.65 91,124.65 91,124.65 TO: Jenny Burns - 1/4th share of Residue Principal Cash $ 91,124.65 $ 91,124.65 $ 91,124.65 $ 91,124.65 TOTAL $ 364,498.62 $ 364,498 .62 - 41 - PROPOSED INCOME DISTRIBUTION SCHEDULE Market Value Fiduciary as of Acquisition 10/O1/2014 Value TO: Timothv P. Burns - 1/4th share of Residue Income Cash $ 8,559.94 $ 8,559.94 $ 8,559.94 $ 8,559.94 TO: Amv Burns - 1/4th share of Residue Income Cash $ 8,559.94 $ 8,559.94 8,559.94 8,559.94 TO: Patrick Burns - 1/4th share of Residue Income Cash $ 8,559.94 $ 8,559.94 8,559.94 8,559.94 T0: Jenny Burns - 1/4th share of Residue Income Cash $ 8,559.93 $ 8,559.93 $ 8,559.93 $ 8,559.93 TOTAL $ 34,239.75 $ 34,239.75 ---------------- ---------------- ---------------- ---------------- - 42 - VERIFICATION Manufacturers and Traders Trust Company, Trustee under Agreement with MORRISON C. STAYER, deceased, hereby declares under oath that it has fully and faithfully discharged the duties of its office; that the foregoing Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Trust have been paid in full; that, to its knowledge, there are no claims now outstanding against the Trust; and that all taxes presently due from the Trust have been paid. This statement is made subject to the penalties of 18 PA. C.S.A. Section 4904 relating to unsworn falsification to authorities. �` C Man cturers and Traders T us Company Dated: i V � �� I `��I � - 43 - � ' . , ��3 TRUST AGREEMENT THIS AGREEMENT made this�day of July, 1967, between � MORRISON CLAY STAYER, also known as MORRI50N C. STAYER� M. CLAY STAYER and MC. 5TAYER. of 504 West South Street, Carlisle, Pennaylvania, hereinafter called the SETTLOR, and FARMERS TRUST COMPANY, of Car2iele, Pennaylvania, hereinafter called the TRUSTEE, WITNESSETH: 1. The Settlor ahall set over and tranafer unto the Trustee the itema of peraonal property set forth in Schedule A hareto attached, to be held by the Trustee in trust ae hereinafter specified. 2. The corpua of thie truet ehall coneist of the personal property set forth in Schedule A attached herato. 3, The Truetee ahall hold, inveet and reinveet the corpus of this trust in accordance with the truatee�s heat judgment, without restriction to legal truat investmente, and may retain in kind any personal property aet forth in Schedule A. 4. The Trustee ehall apply the net income for the benefit of the Settlora eon and daughter-in-law, William K. Stayer and Wanda S. Stayer, in monthly or other convenient inetallments, without anticipation or sequestration, and free from all liene, attachmente and executiona or other claime to be made againet the said income beneficiaries, the amount of auch income distributed to be at the discretion of the Truetee, and any amount not so dietributad to be accumulated. In determing the amount to be paid to the income beneficiariee the Trustee ehall coneider the assete, resources, income and earninga which are available to the income beneficiariee, ae well as their circumstances and requirementa, but any distributions of income ehall be at the eole diecretion of the Truetee. 5. The Trustee shall in hie own diacretion allocate etock dividende either to principal or income or both. 6. Upon the death of both of the income beneficiariea the Trustee shall hoid the corpue of said truat ae we11 as any accumulated and undis- tributed income in further trust in aqual ehares for the children of William K. Stayer, and ehall pay to each grandchild or apply Eor the banefit of eaid grand child eo much of the income ae the Truetee may deem proper, and shali diatribute to each grandchild upon attaining the age of 21 years one-third of the principal of said grandchildta sha.re, and upon attaining the age of 25 yeare, one-half of the then remaining principal of said truat, and upon attaining the age o£ 30 years, the remainder of eaid truat. 7. Lf any grandchild dhell die before receiving full dietribution of his or her share o£ said truat, leaving iaeue to eurvive, said ieaue ahall take the share of said grandchiid by repreeentation, but in default of . iaeue, the share of eaid grandchild shall then be paid to the other remaining grandchild or grandchildren if living, or if doceaaed to his or her,iaeue, and if there shall be no aurviving grandchiid and no aurviving iaeue, then the remaining principal of eaid truet ehall be diatributed to Carlisle Hospital. 8. Thie agreement ehail be irrevocable. 9. Trustee ehall be paid reaeonable compenaation upon the invested corpus of the trust and upon the income received, and diabursed in accordance with thie agreement. IN WITNESS WHEREOF� the Settlor hae hereunto eet his hand and seal and Trustee hae caused this agreement to be executed in ita corporate name by ite Trust Officer. ' xI"'�'��0'�'L. —"" e SEAL) orriso�Clay Stay FAR ERST O ANY B `/� / v Truat Officer