HomeMy WebLinkAbout06-08-15 � 1505611101
REV-1500 EX�°Z_ll> :�
f::;I FICIAL USE(�NLY
PA Department of Revenue pennsylvania °""�
Bureau of Individual Taxes � i� F E � County Code Year File Number
Po Box zso6oi INHERITANCE TAX RETUf�'�N
Harrisburg,PA i'71�8-o6oi RESIDENT DECEDENT" 2 1 1 5 0 0 2 8 7
__._.�__�. --_�.—..._.___.___.._.....�._.._�N�____..... .__....__.._.�_�_____�_
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
1 1 2 1 1 2 0 1 4 0 2 0 9 1 9 3 0
Decedent's Last Name Suffix Decedenk'c� First PVame MI
R I T T E R C L A R E N C E R
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's �irst PJtime MI
R i t t e r ' B e t t y ; L
Spouse's Social Security Number
THIS RETURN MUST BE FIL�� IN LIUPLICATE WiTH THE
1 6 8 2 4 4 8 5 9 REGISTER �F VIIILLS
FILL IN APPROPRIATE OVALS BELOW
� 1. Original Return O 2. Supplemental Return „:s"i 3. Remainder Retum(Date of Death
Prior to 12-13-82)
p 4. Limited Estate p 4a. Future Interest Compromise(date of a,�;;D 5. Federal Estate Tax Return Required
death after 12-12-82)
�„1 6. Decedent Died Testate O 7. Decedent Maintained a Living Trust _���' 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust.)
C� 9. Litigatfon Proceeds Received O 10.Spousal Poverty Credit(Date of Death r;;;�;;g 11. Election to Tax under Sec.9113(A)
Between 12-31-91 and 1-1-95) (Attach Schedule O)
,�
CORRESPONDENT- THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION�S�IOULD BE DIR�ED T¢:7 �-sy
Name C)aytime Telap�o Number '�� �7
.,w �3 G...- '=;5 G..>
F� r� . ,w.�
Ma r 1 i n R . Mc C a 1 eb Esq . 717 " 6�9 �,� � 77�, �fl�
_ �..�
kEGiST�R taF if�IILI_S U�ONLY
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� ...� ° ,�
First Line of Address . �
.,
-,. €.,.�
21 9 Ea st Ma i n S tr eet r� �
y r; �.y
. . . � �. . . . . .. ... C_�1 y} ���T�
Second Line of Address � ..=
City or Post Office State ZIP Code _�_^��?�E FILED�_�,��
M ec han icsb ur g PA 1 7' 0 55
Correspondenrse-ma�iaaa�ess: marlinmccaleb@msn.00111 _
Under penalties of perjury,I declare that I have examined this return,including accompanying schedules and staterrients,and to the best of my knowledge and belief,
P P P_ p p � �n all information of which preparer has any knowledge.
it is true,correct and com lete.Declaration of re arer other than the ersonal re resentative is based o .. .wY., ,_����
SIGN(dTURF�9F PERSON RES80NSIBLE FOR FILING RETURN DATE
,f��..�,,��C:�, _:;' 1�.-..��, � Betty L. Ritter_...._.._.. �'- -`�-"��� `----�`
ADDRESS '
300 Gale Street Mechanicsbur PA 17055
� _ 9�_.�.�._...�.�..�m..�,. .., .._.... .A..._..�._.. .�..�
SIGN URE OF RE THE IHAN E RESENTATIVE DATE �
�y�� � �� Marlin R. McCa�eb_,..ES9...��.,,�.�'"'`�:��.._.._..�
A DRESS
...21�_.E,dS�M�lri_..S.��P�..t. �h�n'�Sh i i rn _ P A 17(15� �...�..�.... _... ,__._..�a__.�.��
PLEASE YISE ORIGINAL FORM ON�."Y�
Side 1
� 1505611101 15�56111�1 J
r
� 1505611201
REV-1500 EX
DecedenYs Social Security Number
�eoede�esrvame: CLARENCE R. RITTER � � �
RECAPITULATION ��
1. Real Estate(Schedule A). . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. 2 � � �• � 0
2. Stocks and Bonds(Schedule B) . . . .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. .
3. Closely Held Corporation, Partnership or Sole-Proprietorship(Schedule C) . . . . . 3. •
4. Mortgages and Notes Receivable(Schedule D) . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. .
5. Cash, Bank Deposits and Miscellaneous Personal Property(Schedule E). . .. . . . 5. 2 � 8 0 • � Q
6. Jointly Owned Property(Schedule F) � Separate Billing Requested . . . . . . . 6: •
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property
(Schedule G) c�."� Separate Billing Requested.. . . . . . . 7. .
8. Total Gross Assets(total Lines 1 through 7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. 4 � 8 �• � �
9. Funeral Expenses and Administrative Costs(Schedule H). . . . . . . . . . . . . . . . . . . 9. 1 6 0 3 5 • 8 9
10. Debts of Decedent, Mortgage Liabilities and Liens(Schedule I). . . . . . . . . . . . . . . 10. .
11. Total Deductions(total Lines 9 and 10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. 1 ( � 3 5 • 8 9
12. Net Value of Estate(Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. O• 0 O
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made(Schedule J) . . . . . . . . . . . . . . . . . . . . . . . . 13. .
14. Net Value Subject to Tax(Line 12 minus Line 13) . . . . . . . . . . . . . . . . . . . . . . . . 14. �• � �
_�..�......m.,,�.._.�..,�....o..�.w...._.,....s...,...��_._...._.�.,......._.._�....�.._�._.�..�,...v._�._,_��.�__m_,_.:_,_...n.�__..,�...,,....�___._...��.�e..- ._..,.
TAX CALCULATION-SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate,or
transfers under Sec.9116
(a)(1.2)X .0_ . 15.
16. Amount of Line 14 taxable •
at lineal rate X.0_ . 16. .
17. Amount of Line 14 taxable
at sibling rate X.12 . �7. �
18. Amount of Line 14 taxable
at collateral rate X.15 . �g. �
19. TAX DUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. �. 0 �
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT �
Side 2
� 1505611201 1505611201 J
REV-1500 EX Page 3 File Number
Decedent's Complete Address: 21-15-0287
DECEDENT'S NAME
Clarence R. Ritter
STREETADDRESS
300 Gale Street
--- __ _ _ _ __ -- __ _- —_ __ ___ — _ — - __
CITY . STATE ZIP .
Mechanicsbur PA 17055
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (�) None
2. Cretlits/Payments
A.Prior Payments
B.Discount
Total Credits(A+B) (2� None
3. Interest
(3)
4. If Line 2 is greater than Line 1 +Line 3,enter the tlifference. This is the OVERPAYMENT.
Fill in oval on Page 2,Line 20 to request a refund. �4) None
5. If Line 1 +Line 3 is greater than Line 2,enter the difference.This is the TAX DUE. (5) None
Make check payable to: REGISTER OF WILLS, AGENT.
� �� t a! `r..; , .� s �.
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Ditl tlecedent make a transfer and: Yes No
a. retain the use or income of the property transferred .......................................................................................... ❑ �
b. retain the right to designate who shall use the property transferred or its income ............................................ ❑ X❑
c. retain a reversionary interest ..........................................................................:................................................... ❑ �
d. receive the promise for life of either payments,benefits or care?..................................... ............................... ❑ �
2. If death occurred after Dec. 12, 1982,did tlecetlent transfer property within one year of death
without receiving atlequate consideration?............................................................................................................. ❑ �
3. Did decetlent own an"in trust for"or payable-upon-tleath bank account or security at his or her tleath?.............. ❑ �
4. Did decedent own an intlividual retirement account,annuity or other non-probate propE�rty,�nrhich
containsa beneficiary designation? ........................................................................................................................ ❑ �
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDUI_F G AND FILE IT AS PART OF THE RETURN.
For dates of tleath on or after July 1, 1994,and before Jan. 1, 1995,the tax rate imposed on the net v��1ue�f transfers to or for the use of the surviving spouse
is 3 percent[72 P.S.§9116(a)(1,.1)(i)].
For�dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers 1:0 or fr.�r 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,a�7��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 yaung��r at death to or for the use of a naturai parent, an
adoptive parent or a stepparent of the child is 0 percent[72 P.S. §9116(a)(1.2)].
• The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5 percent,except as noted in[72 P.S.§9116(a)(1)].
. The tax rate imposed on the net value of transfers to or for the use of the decedenYs siblings is 12 �ercent[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-1502 EX+ (11-08)
j�i�.pennsylvania SCHEDULE A
�' DEPARTMENT OFREVENUE
INHERITANCE TAX RETURN REAL ESTATE
RESIDENT DECEDENT
esTaTeoF �larence Richard Ritter a/k/a Clarence R. Ritter a/k/a FILENUMBER
Clarence R. Ritter, Sr. , a/k/a C. R. Ritter 21-15-0287
All real properry owned solely or as a tenant in common must be reported at fair market value.Fair market value.is defined as the price at which property
would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell,both having reasonable knowledge of the relevant facts.
Real-property that is jointly-owned with right of survivorship must be disclosed on Schedule F.
Attach a copy of the settlement sheet if the property has been sold.
ITEM Include a copy of the deed showing decedent's interest if owned as tenant in common. VALUE AT DATE
NUMBER OF DEATH
DESCRIPTION
1. Hunting camp consisting of lot (0.39 acres) with trailer $ 2,000.00
and outbuildings known and numbered as 147 Grammus Lane,
Renovo, Leidy Township, Clinton County, PA. Value based
on appraisal by Suzanne M. Fahien, Certified Appraiser,
dated March 29, 2015
TOTAL(Also enter on Line 1, Recapitulation.) $ 2000.00
If more space is needed,insert additional sheets of the same size.
REV�1508 D(�(t'87) .
SCHEDULE E
COMMONWEALTHOFPENNSYLVANIA CASH, BANK DEPOSITS� � MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATEOF �larence Richard Ritter, a/k/a Clarence R. Ritter, FILENUMBER
a/k/a Clarence R. Ritter, Sr. , a/k/a C.R. Ritter 21-15-0287
Include the proceeds of litigation and the date the proceeds were received by the estate.All property jointlyowned with the right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
�. 1999 Chevrolet Blazer S-10 Stationwagon; value based on $ 2,080.00
appraisal by Freysinger Pontiac dated March 18, 2015.
TOTAL(Also enter on line 5,Recapitulation) $
(If more space is needed,inseR additional sheets of the same size) �
REV-1511 EX+(10-06)
SCHEDULE N
COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES &
INHERITANCE TAX REl"URN ADMINISTRATIVE COSTS .
RESIDENT DECEDENT
ESTATEOF �larence Richard Ritter, a/k/a Clarence R. Ritter, FILENUMBER
a/k/a Clarence R. Ritter, Sr. , a/k/a C. R. Ritter 21-15-0287
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1� Malpezzi Funeral Home, funeral expense. $ 11,257.37
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative(s) _.________ _
Street Address ____..____ _
�i�y State Zip _
Year(s)Commission Paid:
2. AttorneyFees Marlin R. McCaleb, Esq. 500.00
3. Family Exemption:(If decedent's address is not the same as claimanPs,attach explanation) 3,5QQ.QQ
Claimant Betty L. Rltt21^ _________ _ _
StreetAddress 300 Gdle Street __ _ _
c�ry Mechanicsburg. State P�_z�p _�ZQ��_—
Relationship of Claimant to Decedent SU 1"V l V 1114 SqOU SE _ __.—__._._— —
4. Probate Fees R2g 1 SteY' Of W i 11 S 170.50
5. Accountant's Fees
6. Tax Return Preparer's Fees
�� Cumberland Law Journal ; advertising Letters 75.00
8. The Sentinel ; advertising Letters 233.02
9. Suzanne M. Fahien, real estate appraisal 275.00
10. Register of Wills, filing Petition 25.00
TOTAL(Also enter on line 9, Recapitulation) $ 16,035.89
(If more space is needed,insert additional sheets of the same size)
REV-1513 EX+ (11-08)
� pennsytvania SCHEDULE �
DEPARTMENT OF REVENUE gENEFICIARIES
INHERITANCE TAX RETURN .
RESIDENT DECEDENT
ESTATEOF Clarence Richard Ritter, a/k/a Clarence R. Ritter, a/k/a FiLENUMBER
Clarence R. Ritter, Sr. , a/k/a C.R. Ritter 21-15-0287
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S)RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS[Include outright spousal distributions and transfers under
Sec. 2116(a)(1.2).]
1• Betty L. Ritter Spouse Entire estate
300 Gale Street
Mechancisburg, PA 17055
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-15D0 COVER SHEET,AS APPROPRIATE.
II NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAI DISTRIBUTIONS UNDER SECTION 2113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN
L
_ ____ _ _
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
L
TOTAL OF PART II— ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $
If more space is needed,insert additional sheets of the same size.
� 5
File No.2015030219
APPRAISAL OF
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147 Grammas Ln,Renovo,PA 17764,land appraisal
LOCATED AT:
147 Grammas Ln
Renovo,PA 17764
FOR:
None/Marlin R McCaleblAttorney at Law
Appraisal of property at 147 Grammas Lane
Renovo,PA 17764
BORROWER:
Estate of Ciarence Richard Ritter
AS OF:
March 29,2015
BY:
Suzanne M.Fahien
PA Certified Residential Real Estate Appraiser
P.O.Box 373,Montoursville,PA 17754(570)435-8140 Fax(570)435-8141
SCHEDULE "A.1"
File No.2015030219
04/21/2015
None/Marlin R McCaleb/Attorney at Law
Appraisal of property at 147 Grammas Lane
Renovo,PA 17764
File Number: 2015030219
In accordance with your request, I have appraised the real property at:
147 Grammas Ln
Renovo,PA 17764
The purpose of this appraisal is to develop an opinion of the market value of the subject property,as vaca�i.
The property rights appraised are the fee simple interest in the site.
in my opinion,the market value of the property as of March 29,2015 is:
$2,000
Two Thousand Dollars
The attached report contains the description, analysis and supportive data for the conclusions,
final opinion of value,descriptive photographs, limiting conditions and appropriate certifications.
Suzanne�M.F ien
PA Certified Residential Real Estate Appraiser
RL003671
P.O.Box 373,Montoursville,PA 17754(570)435-8140 Fax(570)435-8141
, USPAP ADDENDUM File No. 2015030219
Borrower: Estate of Clarence Richard Ritter
Property Address:147 Grammas Ln
City: Renovo Counry: Clinton State: PA Zip Code: 17764
Lender: None/Marlin R McCaleb/Attorney at Law
APPRAISAL AND REPORT IDENTIFICATION
This report was prepared under the following USPAP reporting option:
X❑ Appraisal Report A written report prepared under Standards Rule 2-2(a).
❑ Restricted Appraisal Report A written report prepared under Standards Ruie 2-2(b).
Reasonable Exposure Time
My opinion of a reasonable exposure lime tor the subject property at the market value stated in this report is:3-6 months __
Additional Certifications
�I have performed NO services,as an appraiser or in any oiher capaciry,regarding the properry that is the subject of this report within the three-year
period immediately preceding acceptance of this assignment.
�I HAVE performed services,as an appraiser or in another capacity,regarding the property that is the subject of this report within the three-year
period immediately preceding acceptance of this assignment.Those services are described in the comments below.
Additional Comments
APPRAISER: SUPERVISORY APPRAISER(only if required):
Signature: � Signature: ---.
Name: Suzanne M ahi Name: ---.
Date Signed: 04/22/2015 Date Signed: -__..
State Certification#: RL003671 State Certification#:
or State License#: or State License#: _-_
or Other(describe): State#: Sta[e: --
State: PA Expiration Date of Certification or License: _..
Expiration Date of CertificaUon or License: 06/30/20t 5 Supervisory Appraiser inspection of Subject Property:
Effeciive Date of Appraisal:March 29,2015 ❑Did Not ❑Ex[erior-only from street ❑Interior and E�erior '
ROGx.etlusngRClmlMar¢,&Jp.Zl48]2lw�w.aa�.eb.mm USP�1�010]20I4
� � LAND APPRAISAL REPORT File No.2015030219
Pro e Address 147 Grammas Ln Census Tmct 0301.00 LENDER DISCRETIONARY USE
C' Renovo Coun Clinton State PA Zi Code 17764 Sale Price $
Le al Descri tion Deed book�2006 Pa e 5741-147 Grammas Ln-.39 ac Date
OwnerlOccu ant C.R.RitterNacant Ma Reference 06-01 Mortgage Amount S
„ SalePrice$ n/a DateofSale n!a PropertyRightsAppraised MortgageType
Loan char eslconcessions to be aid b seller S None XQ Fee Simple Discount Points and Other Concessions
R.E.Taxes S 195.00 Tax Year 2014 HOA$/Mo. 0.00 ❑ Leashold Paid by Seller S_
�endenClient None/Marlin R McCaleb/Attorne at Law ❑ Condominium(ttuDNn)
A raisal of ro ert at 147 Grammas Lane Renovo PA 17764 PUD Source
LOCATION Urban Suburban X Rural NEIGHBORHOODANALYSIS co� nw. Fd� va«
BUi�7 Ua ❑Over 75% ❑25-75% XQ Under 25% Empbyment Stabiliry ❑f, XQ ❑ ❑
GROW7H RATE ❑Rapid X Stable ❑Slow Convenience to Employment u ❑ X❑ ❑
PROPERTYVALUES ❑Increasing X�Stable ❑Declining Convenience to Shopping ❑ ❑ XQ ❑
DEMAND/SUPPLY ❑Shortage X❑In Balance ❑Over Supply Convenience to Schools ❑ ❑ X� ❑
MARKETING TIME Under 3 Mos. X 3-6 Mos. Over 6 Mos. Adequacy of Public Transportation ❑ ❑ ❑ X❑
� PRESENTLANDUSE% LANDUSECHANGE PREDOMINANT SNGLEFAM_YFpUSNf' RecreationFacilities XO ❑ ❑
' Single Family 30%Not Likely QX OCCUPANCY PRICE AGE Adequacy of Facilities ❑ XQ ❑
� 2-4 Family 0%Likely ❑ Owner X❑ $(000) (yrs) Properry Compa[ibili[y ❑ X❑ ❑ ❑
" Mufti-Family 0°/ In process ❑ Tenant ❑ 20 Low 1 Pro[ection from Detrimental Cond. ❑ X❑ ❑ ❑
Commercial 0%To: N/A Vacant(0-5%) ❑X 300 High 200 Police&Fire Protection ❑ ❑ XQ ❑
Industrial Vacant(over 5%) ❑ Predominant General Appearance of Properties ❑ XQ ❑ ❑
Varant 70% 150- 40 A eal to Market X
Note:Race or the racial composition of the neighborhood are no[considered reliahle appraisal factors. COMMENTSThe sub�ecYs nei hborhood has fair to
avera e roximit to em lo ment and amenities. Sho in schools and other amenities are located within the Renovo area as well as
Potter Count . The nei hborhood is considered avera e. Em lo ment in the eneral nei hborhood is stable and does not have a
n ative effect on value.
Dimensions 157x159x93.5x40.5x110.5 Topography Level
Site Area .39 ac Corner Lot No S¢e Smaller than typical
Zoning Classification RF Zoning Compliance L al nonconformin Shape Irrequlap
HIGHEST&BEST USE: Present Use ReSId2fIt181N8C2t1tlnd Other Use None Drainage A ears Ade uate
UTILI7IES Pubtic Other SI7EIMPROVEMENTS Type Public Priva[e View Woods
Electriciry XQ Street Gravel X❑ ❑ Landscaping None
Gas ❑ None CurblGutter None ❑ ❑ Driveway Gravel
water ❑ None Sidewalk None ❑ ❑ Apparent Easements None
Sani[ary Sewer ❑ None Street Lights None ❑ FEMA Flood Hazard Yes' No X
Stortn Sewer None Alle None FEMA*Ma 2one 42035C0020D/09l26/2008
Comments(Apparent adverse easements,encroachments,special assessments,slide areas,etc.): No adverse easement or othe�adverse conditions were
noted at the time of the a raisai.
T�e untlersipnea has�eciled Ihree recent sales of properties most similiar antl p�oximate to suhject antl has considered t�ese in ihe market analysis. 7'he desc�ipt�ion incluEes a Oolla�
e0justment,re/IeclinB market reaction to I�ase items of signilicant variation between Ihe subject antl compara6le proDerties. II a 5i0nificant ilem in t�e comparaUle prope�ty is superior
to,or more lavore�le t�an,ihe suhject property,a minus(-)etljusiment is matle,t�us reducinp the indlcatetl value of subjec�;if a signiticant iiem in the comparable Is inferlor to,
o�less favara0le than,the su0lect proDeity,a plus(�)adjustment is matle,thus inc�easing ihe intlicatea velue of t�e subjecl.
ITEM SUBJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3
1a7 Grammas Ln 46 Schoolhouse Rd Churchill Rd Erie Ave
Address Renovo,PA��76a Renovo PA 17764 Renovo PA 17764 Renovo PA 17764
Proxim to Sub'a 11.64 miles SE 6.11 miles NE 9.90 miles SE
Sales Price S n/a S 2 000 S 2 000 S 2 551
Pricel S 0 S 2000� S 2000� S 2551�
' DataSource Clinton Ct Steb Re ort Clinton Ct Steb Re ort Clinton Ct Steb Re ort
' VALUEADJUSTMENTS DESCRIPTION DESCRIPTION K.�sn��rem DESCRIPTION K-�sn vmerr DESCR�PTION .-}tn�smw
• Sales or Financing Conv Conv Conv
Concessions None None None
• Date of Sale/iime 03/30/2012 12/18/2013 11/21/2014
. Location Rural Rural -1 000 Rural Res -1 000
SaeNiew .39 ac/Woods .18 aGRes/Woods� 1 000 .22 ac/Woods 0 .08 Ac/Res 2 000
Net Ad. lota X + - '$ O X + '$ O X + ;$ 1 000
Indicated Value Gross: 100.0 Gross: 0.0 Gross: 117.6
af Sub'ect Net: 0.0 S 2 000 Net: 0.0 S 2 000 Net: 39.2 g 3 551
Comments of Sales Comparison: See AttaChed Addendum.
Comments and Conditions of Appraisal:The subiect is appraised as vacant land the trailer and addition are not valued due to their condition.
Final Reconciliation:The income a roach could not be develo ed as the sub ect is bein a raised as vacant land. Mosi em hasis is
' laced on the Market A roach.The Cost A roach to value was not develo ed as the sub ect is bein a raised as vacant land.
I(WE)ESTIMATETHEMARKETVALUE,ASDEFINED,OFTHESUBJECTPROPERTYASOF MBfCh 29 2015 tobeS 2,000
. 1(We)certify: that to the 6est of my(our)knowledge and belief,the facts and data used herein are true and correct;that I(we)personally inspected the subject property
and inspected all comparable sal ited in this report;and that I(we)have no undisclosed interest,present or prospective therein.
• Appraiser(s) Review Appraiser ❑Did ❑Did Not
Suzanne .Fa ien (if applicable) Inspect Property
PfOpf12(tYy l3fd FIXIn 61188 P�aAuretl usng PCI wM1ware,800.2340IP wmv.ecrv.eb.[om
Fahien Appraisal Services
ADDENDUM
Borrower Estate of Clarence Richard Ritter File No.: 2015030219
PropertyAddress 147 Grammas Ln Case No.:
City� Renovo State: PA Zip: 17764
Lender: None/Marlin R McCaleb/Attorney at Law
Comments on Sales Comparison
Comparables which were located closer to the subject and which sold within the past 6 mo�ths were not available in the
market data.The area has a dearth of sales due to iYs rural nature and/or low population and housing density.Of the saies
that have occurred even fewer are competing or similar to the subject.
The lack of sales required expanding the search into other areas within the county and reaching further back in time for
comparables which are considered to be competing with the subject. The necessity for using sales which are a greater
distance and using sales which closed over typical guidelines is common to the area and does not negatively impact the
reliabliity of the opinion of value. This lack of sales in the area is due to the rural nature of the area,the low housing and
population density and to seasonal factors in the market area.
Comparable#2 is located closest to the subjed,comparable#2 is most similar in acreage,comparable#1 is most similar in
location. Comparable#2 has the least amount of gross and net adjustment. Comparable#2 is given greater consideratio�
in deriving the final opinion of value for the subject property.
It is noted that the subjecYs appraised value is below the neighborhood predominant value range. The subject is not
considered to be an under-improvement and the neighborhood value range is not considered to negatively impact the
marketability of the property.
Sales were researched in the subjecPs neighborhood and market area over the past year,the sales selected are considered
to be suitable substitutes for the subjed property.
All sales are arms length transadions and have been verified through the local MLS.
Where there are noted discrepancies between courthouse records and the assessment record,the MLS record is used as
courthouse records may not reflect any changes or proposed changes to the property as a condition of the sale or at the
time of sale.
The adjustments for the comparable properties are based on market reactions to those amenities which are considered to
add/detract value from the subject.
It is noted that some of the comparables are across a highway from the subject,no affect on marketability is noted and if
there is a difference in marketability it has been adjusted for in the location section of the report.
The subject property is located approximately 65 miles from the appraiser's office.This assignment required geographic
competency as part of the scope of work. I have spent sufficient time in the subjects market area and understand the
nuances of the local market and the supply and demand factors relating to the specific properly type and the location
involved.Such understanding will not be imparted solely from a consideration of specific data such as demographics,costs,
sales and rentals.The necessary understanding of local market conditions provides the bridge between a sale and a
comparable sale or a rental and a comparable rental.
Atldendum Page 1 of 1
File No. 2015030219
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale,the buyer and seller,each acting prudently,knowledgeably and assuming the price is not
affected by undue stimulus. 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:(1)buyer and seller are typicaily motivated;(2)both parties are well informed or well advised,
and each acting in what he considers his own best interest;(3)a reasonable time is allowed for exposure in the open market;(4j payment
is made in terms of cash in U.S.dollars or in terms of financial arrangements comparable thereto;and(5)the price represents the normal
consideration for the property sold unaffected by special or creative financing or sales concessions*granted by anyone associated with the
sale.
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normaliy paid by sellers as a result of tradition or law in a market area;these costs are readily identifiable since the
seller pays these costs in virtualiy ail sales transactions. Special or creative financing adjustments can be made to the comparable property
by comparisons to financing terms offered by a third party institutional lender that is not already involved in the properry or transaction. Any
adjustment should not be caiculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment should approximate the markeYs reaction to the financing or concessions based on the Appraiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the
foilowing conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and,therefore,wili not render any opinions about the title. The property is appraised
on the basis of it being under responsible ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is
included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data
sources)and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the
appraiser is not a surveyor,he or she makes no guarantees,express or implied,regarding this determination.
4. The appraiser wiil not give testimony or appear in court because he or she made an appraisal of the property in question,unless specific
arrangements to do so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their
contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions(such as,needed repairs,depreciation,the presence of hazardous
wastes,toxic substances,etc.)observed during the inspection of the subject property or that he or she became aware of during the normal
research involved in performing the appraisal. Unless otherwise stated in the appraisal report,the appraiser has no knowledge of any hidden
or unapparent conditions of the property or adverse environmental conditions(inciuding the presence of hazardous wastes,toxic
substances,etc.)that would make the property more or less valuable,and has assumed that there are no such conditions and makes no
guarantees or warranties,express or implied,regarding the condition of the properry. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the
appraiser is not an expert in the field of environmental hazards,the appraisal report must not be considered as an environmental assessment
of the property.
7. The appraiser obtained the information,estimates,and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such
items that were furnished by other parties.
S. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professionai
Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion,
repairs,or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lenderlclient specified in the appraisal report can distribute the
appraisal report(including conclusions about the property value,the appraiser's identiry and professional designations,and references to
any professional appraisal organizations or the firm with which the appraiser is associated)to anyone other than the borrower;the
mortgagee or its successors and assigns;the mortgage insurer;consultants;professional appraisal organizations;any state or federally
approved financial institution;or any department,agency,or instrumentality of the United States or any state or the District of Columbia;
except that the lenderlclient may distribute the properry description section of the report only to data collection or reporting service(s)
without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before
the appraisal can be conveyed by anyone to the public through advertising,public relations,news,sales,or other media.
Vacant Land Page 1 of 2
File No. 2015030219
APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that:
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate
to the subject property for consideration in the sales comparison ana�ysis and have made a dollar adjustment when appropriate to reflect the
market reaction to those items of significant variation. If a significant item in a comparabie property is superior to,or more favorable than,
the subject property,I have made a negative adjustment to reduce the adjusted sales price of the comparable and,if a significant item in a
comparabie property is inferior to,or less favorable than the subjec[property,I have made a positive adjustment to increase the adjusted
sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe,to the best of my
knowledge,that all statements and information in the appraisal report are true and correct.
3. I stated in the appraisal report only my own personal,unbiased,and professional analysis,opinions,and conclusions,which are subject
only to the contingent and Limiting Conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report,and i have no present or prospective personal
interest or bias with respect to the participants in the transaction. I did not base,either partially or compietely,my analysis andlor the
estimate of market value in the appraisal report on the race,color,religion,sex,handicap,familial status,or national origin of either the
prospective owners or occupants of the subject properry or of the present owners or occupants of the properties in the vicinity of the
subject property.
5. I have no present or contemplated future interest in the subject property,and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the properry.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party,
the amount of the vaiue estimate,the attainment of a specific result,or the occurrence of a subsequent event in order to receive my
compensation andlor employment for performing the appraisal. I did not base the appraisal report on a requested minirnum valuation,a
specific valuation,or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal,
with the exception of the departure provision of those Standards,which does not apply. I acknowledge that an estimate of a reasonable
time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the
marketing time noted in the neighborhood section of this report,unless I have otherwise stated in the reconciliation section.
8. I have personally inspected the subject property and the exterior of all properties listed as comparabies
in the appraisai report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements,on the
subject site,or on any site within the immediate vicinity of the subject properry of which I am aware and have made adjustments for these
adverse conditions in my analysis of the property value to the extent that i had market evidence to support them. I have also commented
about the effect of the adverse conditions on the marketability of the subject property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on
significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal
report,I have named such individual(s)and disclosed the specific tasks performed by them in the reconciliation section of this appraisal
report. I certiiy that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in
the report;therefore,if an unauthorized change is made to the appraisai report,I will take no responsibiliry for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report,he or she certifies
and agrees that:I directly supervise the appraiser who prepared the appraisal report,have reviewed the appraisal report,agree with the
statements and conclusions of the appraiser,agree to be bound by the appraiser's certifications numbered 4 through 7 above,and am[aking
full responsibiliry for the appraisal and the appraisai report.
ADDRESS OF PROPERTY APPRAISED: 147 Grammas Ln,Renovo,PA,17764
APPRAISER: SUPERVISORY APPRAISER(only if required)
Signature: � Signature: _
Name: Suzanne M ahi Name:
Date Signed: 04/22/2015 Date Signed:
State CertificaUon#: RL003671 State Certification#: __
or State License#: or State License#:
State:PA State: _
Expiration Date of Certification or License: 06/30/2015 Expiration Date of Certification or License:
❑ Did ❑ Did Not Inspect Property
PA Certified Residential Real Estate Appraiser
Vacant Land Page 2 of 2
. SUBJECTPROPERTY PHOTO ADDENDUM
Borrowe�!Estate of Clarence Richard Ritter File No.: 2015030219
�ropertV Ad"dress:147 Grammas Ln Case No.:
CiN:Renovo State: PA Zip:17764
Lender:None/Marlin R McCaleb/Attorne at Law
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" SUBJECTPROPERTY
- � Appraised Date:March 29,2015
"�"�~;z Appraised Value:$2,000
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. Borrower:Estate of Clarence Richard Ritter File No.: 2015030219
Property Address:147 Grammas Ln Case No.:
City:Renovo State: PA Zip:17764
Lender:None/Marlin R McCaleb/Attorne at Law
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Ciry: Renovo State� PA Zip' 17764
Lender:None/Marlin R McCaleb/Attorne at Law
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Property Address:la7 Grammas Ln Case No.�
Clry: Renovo State: PA Zip' 17764
Lender:None/Marlin R McCaleb/Attorne at Law
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B�rrower:Estate of Clarence Richard Ritter File NO.: 2015030219
Property Adtlress:147 Grammas Ln Case No.:
City: Renovo State: PA Zip: 17764
Lender:None/Marlin R McCaleb/Attorne at Law
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' ' LOCATION MAP
Bof�owef:Estate of Clarence Richard Ritter File No.: 2015030219
Property Address:147 Grammas Ln Case No.:
CiN:Renovo State: PA Zip: 17764
Lender:None/Marlin R McCaleb/Attorne at Law
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Comparable Sale 2
Churchill Rd
Renovo,PA 1776d 't4
6.11 miles NE ;
Subject
147 Grammas Ln
Renovo,PA 7 7764
Comparable Sale 1
i� 46 Schoolhouse Rtl
Renovo,PA 17764
11.64 miles SE
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Comparable Sale 3 ��`
Erie Ave
Renovo,PA 17764
9.90 miles SE `
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P.O.Box 373,Montoursville,PA 17754(570)435-8140 Fax(570)435-8141
. COMPARABLEPROPERTYPHOTO ADDENDUM
Borrower:Estate of Clarence Richard Ritter Fi�e No.: 2015030219
Property Address:147 Grammas Ln Case No.:
City:Renovo State: PA Zip: 17764
Lendef:None/Marlin R McCaleb/Attorne at Law
COMPARABLESALE#1
46 Schoolhouse Rd
Renovo,PA 17764
Sale Date:03/30/2012
Sale Price:$2,000
COMPARABLE SALE#2
Churchill Rd
Renovo,PA 17764
Sale Date: 12/18i2o13
Sale Price:$2,000
COMPARABLE SALE#3
Erie Ave
Renovo,PA 17764
Sale Date: 11/21/2014
Sale Price:$2,551
Borrowef:Estate of Clarence Richard Ritter File No.: 2015030219
Property Address:147 Grammas Ln Case No.:
City:Renovo State: PA Zip: 17764
Lender:None/Marlin R McCaleblAttorne at Law
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MADE�fHE 7th day of August in the year of our Lord Two Thousand Six(2006),
between
BEATRICE M. SHEAN,individually and as Executrix under
the Last Will and Testament of Stephen F. Shean,also
known as S. F. Shean, Deceased,presentty of Cape Coral,
Fbrida, ELMER N.ADAMS, also known as E. N.ADAMS,
widowet,of Carlisle, Pennsytvania, by RONAID E. (
ADAMS, his attomey-in-fact,specially cons�tuted by Power
of Attomey.dated July 27, 2001, and recorded in the Office
oi the Recorder of Deeds of Clinton County, Pennsylvania,
as Instrument No.200&02838, as by reference thereunto
appears, and DEWEY CALHOUN,joined in by his wife, I
-' FRANCES CALHOUN,presently of Cape Coral, Florida,
��� ,-�.� ���_ parties of the first part, hereinafter known as the
��,^. , "Granto�s",
.
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. �
��—'�.�;�;'C. R. RITTER,of the Borough of Mechanicsburg, Pennsylvania,
� �� ��'•• � party af the second part, hereinafter known as the"Grantee",
. : �. .
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WITNESSE'�H,that in consideration of One and Na/100(51.00)Dolla�s and other
: good and valuable considerations,in hand paid,the receipt whereof is hereby
CLINTON adcnowledged,the said Grantors do hereby grant and convey to the said Grantee,
C011NTY his heirs and assigns, all of their right,title and undivided interests in and to
ASSESSME ALL THAT CERTAIN piece or parcel of property situated and located in the
; � OFFIGE , Township of Leidy,County of Clinton and the Commonwealth of Pennsylvania
� �p� to wit as follows:
,' ���s� BEGINNING at an iron
pipe,said pipe located South 54 degrees 30 minutes
�OR�4U� West 116.0 feet from an iron pipe at the Southwest comer of a parcel of lend
,�N� , of Michael Brooks(believed to be unrecorded as yet);thence South 69
degrees 55 minutes West a distance of 157.0 feet along a certain dirt weN
/o ,����o� road and aaoss same to a large pine tree;thence across said road North 3
� degrees 02 minutes West a distance of 159.0 feet to a white oak tree;thence
South 81 degrees 52 minutes East a distance oi 93.5 feet to a white oak tree
being so located South 86 degrees 17 minutes East a distance of 40.5 feet
,..W�>"�n from a Leidy Gas Well No. 302;thence South 34 degrees 32 minutes East a
rnARUN R +NcUlEB
2006 -0514�
.7
P.O.Box 373,Montoursville,PA 17754(570)435-8140 Fax(570)435-8141
Bo�fOwe�:Estate of Clarence Richard Ritter File No.: 2015030219
Propertv Address:147 Grammas Ln Case No.:
Ciry: Renovo State: PA Zip: 17764
Lender:None/Marlin R McCaleb/Attorne at Law
distance of 110.5 feet to an iron pipe on ditch line of said we8 road,the place
of BEGINNING. Containing 0.39 acxes more or less. Reserving unto Jesse
A. Calhoun and Eva H. Calhoun, his wife, all the oil,gas and minerals
underlying said land,together with the right to remove the same in the
customary way when so done. Also the rights of storage underground and
removal oi gas or oil either natural or manufactured. This being part of a
larger Uact of land covered by Deed Book Volume 194, Page 330, more fully
described at the County CouR House.
,� BEING the same premises which Jesse A. Calhoun and Eva H. Calhoun, his
� wife,by their deed dated June 11, 1965,and recorded in the Office of the
�N e Recorder of Deeds oi Clinton County, Pennsylvania,in Deed Book Volume
�",i0� 216,Page 304,granted and conveyed unto S. F.Shean,E. N.Adams(who is
�''�'' the same person as Elmer N.Adams),C. R. Ritter and Dewey Calhoun. The
•.�m.�
��Q said S. F. Shean, also known as Stephen F.Shean,died on July 23, 1983,
�'E a having first made his Last Will and Testament dated August 3, 1968,wherein
ro� o and whereby he appointed as Executrix thereof his wife, Beatrice M. Shean,
w > to whom Lette�s Testamentary were duly issued by the Register of Wil1s of
°� � Clinton County,Pennsylvania,on September 13, 1983,and wherein and
��a whereby he bequsathed and devised his entire Estate unto his w'rfe, Beatrice
� o � M. Shean,all as in and by the records of said Register of Wills, recourse
o X p thereunto being had,more fulty appears. The said Beatrice M. Shean,
a individually and as Executrix as aforesaid,together with the said Elmer N.
y �,�? Adams,also known as E. N.Adams,and the said Dewey Calhoun, hereby
;.` � grant and convey their three(3)undmided one-fourth(114)interests in and to
�° b the said premises unto the said C. R. Ritter,the remaining Graniee under the ;
o;�", aforesaid deed dated June 11, 1965,for the purpose of mak�g him,said "
a�� Grantee,the sole owner of the within premises,absolutely and in 1ee simple.
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AND the said Grantors hereby covenant and agree that they will warrant specially
the property hereby conveyed.
1N WITNESS WHEREOF, said Grantors have hereunto set their hands and seals
the day and year fi�st above written.
Signed,Sealed and Delive�ed
in the Presence of
-�' �'Zj (SFAL)
Beatrice M. Shean
P.O.Box 373,Montoursville,PA 17754(570)435-8140 Fax(570)435-8141
� � FLOOD MAP
BOrrower:Estate of Clarence Richard Ritter File No.: 2015030219
Property Address:147 Grammas Ln Case No.:
City:Renovo State: PA Zip: 17764
Lender:None/Marlin R McCaleb/Attorne at Law
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Renovo, PA 17764
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FLOOD INFORMATION LEGEND
Community: TOWnshlp of Leldy � =G r����r�- F .-.]- �-;:���:�F
Property is NOT in a FEMA Special Flood Hazard Area
Map Number.42035C0020D =r�i,,.;�.,,,�, „_,n�::-��, � .,�:.: : .:.
Panel: 0020D Road View:
Zone: X
_� Fcres'. - :rva�...:
Map Date: 09-26-2008
FiPS:42035
Source:FEMA DFIRM
Sky Flood`"
P.O.Box 373,Montoursville,PA 17754(570)435-8140 Fax(570)435-8141
File No.s r13188709
*********INVOICE*""******
File Number.spr�sisa�os oaiozrzois
Springhouse LLC
BOffOW2�: Michael L Kibler
IIIVOIC@#: 201304308
Order Date:
ReferencelCase#:
PO Number:
205 Clinton Street
Avis,PA 17721
2055 drive by appraisal report $ 275.00
$
----------�---
Invoice Total $ z�s.00
State Sales Tax @ $ o.00
Deposit ($ �
Deposit (g )
--------------
Amount Due $ 2�5.00
T2ffTIS: 30 days-all accounts over 30 days subject to 7.5%finance charge per month
Please Make Check Payable To:
Fahien Appraisal Services
P.O.Box373
Montoursville,PA 17754
Fed.I.D.#: �s-naaa�a
P.O.Box 373,Montoursville,PA 17754(570)435-8140 Fax(570)435-8141
Exterior-Only inspection Residential Appraisal Report File No. sp�13188709
The purpose of this summary appraisal report is m provide the lendedclient with an accurate,and adequately supported,opinion of the market value of the subject properry.
Pro e Address 205 Clinton Street C Avis State PA Zi Code 17721-8983
eorrower Michaei L.Kibler Owner of Public Record Michael L Ki bler Coun Clinton
Le al Descri uon Deed book:2006 Pa e;4015 SMSA#None
Assessor's Parcel# A-11-0015 Tau Year 2013 R.E.Taxes$ 1,319.00
Ne hborhood Name Borou h of Avis Ma Reference A-11 Census Tract 0304.00
Oceu X Owner Tenan[ Vacant S ecial Assessments$0.00 PUD HOA S 0.00 r ear er monih
'� Pro e Ri his A raised X Fee Sim le Leasehold Other describe
Ass nment T e Purchase Transaction Refinance TransacGon X Other describe Market Value
LenderlClient Ocwen Loan Servicin ,LLC Address 1661 Worthin ton Road,West Palm Beach,FL 33409
Is ihe wb�ect ro e curren offered for sale or has R been offered for sale in ihe tweWe months rior to the effec[ive date of this a raisal? Yes X No
Report data source(s)used,offering price(s),and date(s). The r is not current listed,it has not been listed in the ast 12 months. The information was obtained
on the date of the a raisal and verified wdh MLS records.
I did did not analyze ihe contract for sale for the subject purchase VansacUon.Explain Ihe results of the analysis of the conVact for sale or why the anatysis was not performed.
. Contract Price 5 Date of Contract Is Ne ro r seller Ne owner ot ublic record? Yes No Data Source s
Is Nere any financial assistance(ban charges,sale concessions,gilt or downpayment assistance,etc.)to be paid by any parry on behaR of ihe borrower? Yes No
� If Yes,report the rotal dollar amount and describe the items ro be paid.
Note:Race anC the racial com osition of[he nei hborhooA are not raisal faaors.
NNphborAoodCharac0eristics One-UnkHouSinpTrerMa OnellnkHouaing PfeSeMLandUse%
Location Urban X Suburban Rural Pro e Values Increasin X Stable Declinin PRICE AGE One-Unit 75 46
Built-U X Over 75% 25-75% Under 25% DemandlSu Shorta e X In Balance Over Su $000 rs 2-a Unit 9b
• Growlh Ra id X Spble Slow Marke6n Time X Under 3 mths 3-6 mths Over 6 mths 70 Low 0 Multi-Famii ^/o
� Neighborhood eoundaries North b the borou h limits,south b Park Avenue,east b the borou h limits,west b 250 Hi h 200 Commercial �u
' Cemete Street. 130 Pred. 50 CXher vacant 25%
Neighborhood Description See Ariached Addendum
Market Conditions(including support for the above conclusions) See Attached Addendum
Dimensions 80x150 Area 12000 S .Fi. Sha Rectan le View Res
S cific Zonin Classification R Zonin Descri tion Residential
Zonin Com liance X Le al Le al Nonconformin Grandfathered Use No Zonin Ille al describe
Is the highest and best use of the subjett properry as improved(or as proposed per plans and specifica6ons)the present use? X Yes No It No,descri6e.
Utilities Public Other describe Public Other tlescribe OfF-sitelm rovements-7 e Public Vrivate
ElecVici X Water X SVeet Macadam X
Gas X None SanBa Sewer X Alle None
FEMA S ecial Flood Hazard Area Yes X No FEMA Flood Zone X FEMA Ma # 42035C0404D FEMA Ma Date 09/26/2008
Are the u61Nes and of(-sRe im rovements ical for the market area? Yes No If No,descrihe.
Are ihere any adverse site condi6ons or external factors(easements,encroachments,environmental condNons,land uses,etc J? Yes X No If Yes,describe. No A arent
easements encroachmeMs or olher adverse cond'Rions were noted.
Source s Used for Ph sical Characteristics of Pro e A raisal Files MLS X Assessment and Tax Records Prior Ins ecdon Pro er Owner
Other describe Data Source s for Gross Livin Area Assessment record
GENERAL DESCRIPTION GENERAL DESCRIPTION Hea6ng/Cooling Ameniues Cai Srorege
Units X One One with Accesso Unit Concrete Slab Crawl S ace X FWA FIWBB Fire lace 5 k 0 None
#of Stories 1 X Full Basement Finished Radiant WootlSrove s#0 X Drivewa u of Cars 2
T e X Det Att. S-DetlEndUnit PartialBasemen[ Finished Other X PatiolDeck Rear Drivewa SurlaceGravel
X Ezistin Pro osed Under Consl. Exterior walls Fr,vin UA Fuel Oil X Porch Front X Gara e a of Cars 2
Desi n S Ranch Roof Surface Com .as h/A Central Air Condilionin Pool None Car ort #of Cars 0
Year Buift 1971 Guaers&Downs outs Alum/A Individual Fence None Anached X Detached
Eflec6veA e rs 20 WindowT e DMun Th/A X Other None Other None Builhin
A liances P Rehi erator P Ran elOven Dishwasher Dis osal Microwave P WashedD r Other describe
Finished area above rade contains: 5 Rooms 3 Bedrooms 1 Bath 5 912 5 uare Feet of Gross Livin Area Above Grade
Addi6onal feaNres(special energy efficient items,etc.) 100 AMP electrical service _
Describe the condifion of the pwperry and data source(s)(including apparent needed repairs,deterioration,renovations,remodeling,etc.). The sub�ect is a ranch home in aver e
� exterior condition.Ph ical d reciation and functional obsolescence is unknown as the interior was not ins ted. An interior ins ection m reveal adddional
� information which could resuR in a chan e in value in either direction.No external obsolescences were noted at the time of the a raisal.
Are there any apparent physical deficiencies or adverse conditions that affectthe livahiliry,soundness,or strucWral integriry o(the property� Yes X No tl Yes,describe.
Does the property generalty conform to the neighborhood(functional uUliry,sryle,contlition,use,construction,etc.)? X Yes No If No,describe. _
ffetldie Mat Fam 2055 Mazth 2(p5 PeoEuceO uvng ACI sallwere,Bo0.23a.e"R)xxw.ecixeE.com FanMe Mae Fqm 2(I55 Mtrth 2005
Pdgp 10l 6 2D55 a509o909
Exterior-Only Inspection Residential Appraisal Report File No. spr13188709
There are 2 com arable ro erties curren offered for sale in the sub'ct nei hborhood ren in in rice hom S 90,000 to$ 130,000
There are 4 com arable sales in the sub�ect nei hborhood within the asl tweNe months ran in in sale rice hom$ 90 000 to$ 130 000
FEATURE SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0.2 COMPARABLE S0.LE N0.3
205 Clinton Street 108 Lafayette Street 202 Fairview Street 25 Maple Avenue
Address Avis,PA 17721 Avis,PA 17727 Avis PA 17721 Avis.PA 17721
Proxim to Sub�ect 024 miles SE 0.04 miles ESE 1.09 miles WSW
Sale Price 8 $ 120,000 S 99,900 $ 120,000
Sale Price/Gross LN.Area $ 0.00 .tt. $ 125.00 .tl. $ 94.51 .ft. $ 11029 s.ft.
Data Source s WBV MLS#WB-65171;DOM 4 WBV MLS#WB-64715;DOM 15 WBVMLS#Wb-64161;DOM 6
Verification Source s Eut Ins ,Tax Card,Ct Hse Rec EM Ins ect,Tax Card,Ct Hse Rec Ext Ins ect,Tax Card,Ct Hse Rec
VALUEADJUSTMENTS DESCRIPTION DESCRIPTION «-Enaj�� DESCRIPTION «-�sndjuamen DESCRIPTION .-anqLLamem
Sale or Financing ArmLth ArmLth ArmLth
Concessions RH 5000 -5,000 FHA;5000 -5,000 FHA 5575 -5,575
Date of Sale/Time 09/01/2012 s09/12;c06/12 s06/12;c04/12
Loca6on Res Res Res Res
LeaseholdlFee Sim le Fee Sim le Fee Sim le Fee Sim le Fee Sim le
Site 12000 S .Fi. 9583 sf 0 14810 sf 0 11600 sf 0
View Res Res Res Res
Des n S e Ranch Ranch Ranch Ranch
af of Constructlon Fr,vin UA Fr,vin I/A Fr,vin /A Fr,alum,mas/A
Actualn e 42 39 0 72 6,000 57 0
Condition Aver e Avera e Avera e Avera e
Above Grade rrna� sdma sm� raa� enms eazr� 2,000 Tua� e�m ea� Ta� sdr� sarts
RoomCount 5 3 1 4 2 1.1 -1,000 5 3 1.0 5 3 1
GrossLM Nea15.00 912 .ft. 960 .tt. 0 1,057 .ft. -2,200 1,0$6 s.fl. -2,600
Basement&Finished Full basement Full basement Full basement Full basement
Rooms Bebw Grade Unfinished 500 Sf Finished -2,500 Unfinished 460 Sf Finished -2,000
Functfonal Utili Aver e Aver e Avera e Avera e
. Hea6n Coolin FA/OilMone FalOil/Cac -4,000 Hw/OiI/None HP/eIeGCAC -4,000
� Ener Efficient Items None noted None noled thermo windows -4,000 None noted
: Gara elCar ort 2 Car Gara e 1 Car Gar e 4,000 2 Car Gara e 1 CP 7,000
PorchlPa6oroeck Deck,Porch Deck,Shed 0 Deck,Fence 0 Fnce,sheds -2,000
� LP/SP ratio 95% None None None None
� NetAdustrnent Total + X - S 6,500 + X - S 5,200 + X - g 9,175
AdjustedSalePrice NetAdj. -5.4% NetAdj. -52% NetAdj. -7.6%
- of Com arables GrossAd�. 15.4% $ 113 500 Gross Ad�. 172% $ 94 700 Gross Ad�. 19.3% 5 110 825
I X did did not research the sale or transfer history ot the subject properry and comparable sales.If not,explain
M research did X did not reveal an rior sales or transters of the sub'ect ro e tor the three ars rior to the etteclive date of this a raisal.
Data wurce s Courthouse records
M research did X did not reveal an rior sales or transfers of the com arable sales for the ear rior to the date of sale ot the com arable sale.
Data source s Courthouse records __
Re ort the resufts of the research and ana sis of the rior sale or transfer histo of the sub'ect ro and com arable sales re ort addi�onal rior sales on a e 3L__
ITEM SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0.2 COMPARABLE SALE N0.3
Dale of Prior Sale/fransfer
Price of Prbr SaleRransler
Data Source s Courthouse Records Courthouse Records Courthouse Records Courthouse Records
Elfective Date o(Daha Source s 04/02/2013 04l02/2013 04/02/2013 04/02/2013
Anaysis of prior sale or Iransfer history of the subject properry and comparable sales The subl�t has nol transferred in the past three years. The wmparables have not
sold in the ar rior to the�ast sale date.
Summary of Sales Comparison Approach. See Ariached Addendum _
Indicated Value b Sales Com arison A roach S 110 000
IndieatetlValueb: SalesCom arisonA roach5110,000 CostA roach ifdevelo etl S 15,000 IneomeA roach ittlevelo ed S 0
The income a roach could not be develo to a lack of data r ardin the rents for the sub'ect r e . Most em hasis is laced on the Market A roach.
The Cost A roach to value was not develo and is considered ina licable due to the a e of the sub ect.
- This appraisal is made X 'as is," subject to completion per plans and specifications on the basis of a hypothetical condHion that the improvements have been completed,
❑subjec[to the following repafrs or altera0ons on the basis of a hypothebcal condi�ion that Ihe repairs or al[erations have been completed,or ❑subject to[he following required
. inspection based on the exUaordinary assumptlon that the condition or deficiency does not require alteration or repaic __.
Based on avisual inspection of[he eMerior areas of the subject property from at leastthe street,tletined scope ot work,statement of assump[ions and limiting
conditions,and appraiser's certification,my(our)opinion of the market value,as defined,of the real property that is the subject of this report is S 110,000
asof 04/02/2013 whichisthedateofins ectionandtheefFectivedateofthisa raisal.
FrttNi2 Met Fam 2055 Mazeh 2(105 PeotluwE usig Aq mllware.800.23a.01P xxw.etiweb.wm FanniC Mae FIXm 2055 Mdith 2J05
Page 2 0l6 N55 OS 090909
Fahien Appraisal Services
Exterior-Only Inspection Residential Appraisal Report File nlo. spr13188709
sc of work __
The sc of work for this a raisal is defined b the com lexi of this a raisal assi nment and the r ortin r uirements of the a raisal r ort form,
includin the followin d��ition of market value,statement of assum tions and limdin condRions and certifications. The a raiser must,at a minimum: 1
rform a com lete visual ins tion of the exterior areas of the sub�ect ro 2 ins ect the nei hborhood, 3 ins ect each of the com arable sales from at
least the street, 4 research,ve' ,and anal e data from reliable ublic and/or rivate sources and 5 re ort his or her ana is,o inion,and conclusions in
this raisal re ort.The ro was a raised as havin knowled eable ownershi and can ent man ement.The raiser has made no su and
assumes no res onsibil' in connection with such mariers.The al descri tion furnished is assumed to be correct.The a raiser assumes no res onsibil'
for matters 1 al in character,nor renders an inion as to the tiile,which is assumed to be ood.The information identified in this re ort as bein furnished b
others was believed to be reliable,but no res sibil for ils accurac is assumed. The existence of hazardous materials,which ma or ma not be resent on
the r ,was not observed b the a raiser. The a raiser has no knavled e of the existence of such material s on or in the ro ert . The a raiser
however is nol ual'rfied to detect such substance s. The resence of substances such as asbestos,urea-fortnaldeh de foam insulation,or other otential
hazardous materials m affect the value of the ro The value inion is redicated on the assum tion that there were no such materiai s on or in the
r that would cause a loss in value. No res onsibil� is assumed for an such conddions or fw e rtise or en ineerin knowled e r uired to discover
them.The value o inions resent in this re ort are based u on review and ana sis of the market conddions affectin real ro value,includin land value,the
attributes of com titive ro Aies and sales data for residential ro rties.
E osure time is estimated between 30-90 d
E osure time:estimffied len th of time that the ro interest bein a raised would have been offered on the market rior to the h othetical consummation
- of a sale at market value on the effective date of the a raisal.
. Marketin time is estimated between 30-90 d
I have not rfortned other services,as an a raiser or in an other ca aci ,r ardin the ro that is the sub ect of the work under review eithin the three-
r riod immediatel recediin acce tance of this assi nment.
Intended Use
The u ose of this a raisal is for asset valuation u oses.
The defindion of Market Value was obtained from the URAR which was revised in March 2005.
Intended User:
The intended user of the a raisal re ort is the lender/client.The iniended use is to evaluate the r e that is the sub ect of this a raisal for a asset valuation
u oses, sub ect to the stated sco of work, u e of the a raisal,r ortin r uirements of this a raisal re ort fam,and the definition of market value.
No adddional intended users are identrfied b this a raiser.
COST APP120ACH TO VALUE(not required by Fannie Mae)
Provide ade uate informa6on for the Iender/client to re licate the below cost fi ures and calcula6ons.
Support for the opinion of site value(summary of comparable land sales or other methods for estimatlng site value) Saies of land in the subl�'s general area were researched.
Sales of similar lots ran e in sale rice from$15,000 to$35,000. The o inion of the site value is$15,000. The land to value ratio is 12.5%_
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE........................................_$ 15,000
--
: Source of wst data Dvrellin 912 S .Ft.@$ _.........=S 0
: af raun hom cosl service Effeclive date of cost data 5.FL $ ............._£
� CommenLs on Cosl A roach ross livin area calculations,de reciation,etc. _.
Economic L'rfe:90 Years Gara e/Car ort S.FC S =S
� The cost a roach was not develo and is considered ina licable due to Total Estimate ot Cost-New =$ 0
tne e of the sub'ect. Ph ical and functional obsdescence are an estimate Less 70 Ph sical Functional EMernal
which makes the cost a roach an unreliable indicator of value in this case. De reciauon =S 0
De reciated Cosloflm rovements................................_$ 0
'A5-is'Value ot Site Im rovements..........................__.._$
Estimated Remainin Economic Life HUD and VA on 50 Years INDICATED VALUE BY COST APPROACH...................... =5 15 000
INC011�E APPROACH TO VALUE(not required by Fannie Mae)
Estimated Month Market Rent$ X Gross Rent MuIG lier =$ Indicated Value b Income A roach
� Summary of Income Approach(including support for market rent and GRM)
PROJECT INFORMATION FOR PUDs[d applicable)
Is the develo erlbuilder in conVol of the Homeowners'Assoc'�ation HOA? Yes No Unit e s Detached Attached
Provide the followin inbrma6on for PUDs ONLY if lhe develo edbuilder is in wnhol of the HOA and[he sub�ect ro e is an attached dwellin uni[.
Le al name of ro ect —
Total number of hases Total number of units Total number of units sold __
Total number of units rented Total number of unils for sale Data source s
� Was the ro ect created b Ihe conversion of an existin buiMin s into a PUD? Yes No If Yes,date ot wnversion. , _..
: Does the ro cl contain an mul6-dwellin units? Yes No Data source s ..
Are the units,common elemenfs,and recrea6on facilities complete? Yes No If No,describe ihe slaNs of completion.
Are the common elements leased ro or by[he Homeowners'Associalion? Yes No It Yes,describe the rental terms and options. , ,
Describe common elemenLS and recrealional facilities.
FrpOM2 Mat Fotm 2(YS MeftI120f� ProUuceO usng ACI solrxete,BW.�34.BIP xxw.aoxeU.com Fanie A1ae Fofm ZO55 M2rU N05
P8Q2 3 01 fi 2055 OS 090909
Exterior-Only Inspection Residential Appraisal Report File No. spr13188709
This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a
unit in a planned unit development(PUD). This report form is not designed to report an appraisal of a manufactured home or a unit
in a condominium or cooperative project.
This appraisal report is subject to the following scope of work,intended use,intended user,definition of market value,statement of
assumptions and limiting conditions,and certifications. Modifications,additions,or deletions to the intended use,intended user,
definition of market value,or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work
to include any additio�al research or analysis necessary based on the complexity of this appraisal assignment. Modifications or
deletions to the certifications are also not permitted. However,additional certifications that do not constitute material alterations
to this appraisal report,such as those required by law or those related to the appraiser's continuing education or membership in an
appraisal organization,are permitted.
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the
reporting requirements of this appraisal report form,including the following definition of market value,statement of assumptions
and limiting conditions,and certifications.The appraiser must,at a minimum:(1)perform a visual inspection of the exterior areas
of the subject property from at least the street,(2)inspect the neighborhood,(3)inspect each of the comparable sales from at least
the street,(4)research,verify,and analyze data from reliable public and/or private sources,and(5)report his or her analysis,
opinions,and conclusions in this appraisal report.
The appraiser must be able to obtain adequate information about the physical characteristics(including,but not Iimited to,
condition,room count,gross living area,etc.)of the subject property from the exterior-only inspection and reliable public and/or
private sources to perform this appraisal. The appraiser should use the same type of data sources that he or she uses for
comparable sales such as,but not limited to,multiple listing services,tax and assessment records,prior inspections,appraisal
files,information provided by the property owner,etc.
, INTENDED USE: The intended use of this appraisal report is for the lendeddient to evaluate the property that is the subject of
this appraisal for a mortgage finance transaction.
INTENDED USER: The intended user of this appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale,the buyer and seller,each acting prudently,knowledgeably and assuming the price is
not affected by undue stimulus. 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:(1)buyer and seller are typically motivated;(2)both parties are well informed
or well advised,and each acting in what he or she considers his or her own best interest;(3)a reasonable time is allowed for
exposure in the open market;(4)payment is made in terms of cash in U.S.dollars or in terms of financial arrangements
comparable thereto;and(5)the price represents the normal consideration for the property sold unaffected by special or creative
financing or sales concessions`granted by anyone associated with the sale.
`Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are
necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area;these costs are readily
identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be
made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is nat already
involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the
financing or concession but the dollar amount of any adjustment should approximate the markeYs reaction to the financing or
concessions based on the appraiser's judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the
following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title
to it,except for information that he or she became aware of during the research involved in performing this appraisal. The
appraiser assumes that the title is good and marketable and will not render any opinions about the title.
2. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or
other data sources)and has noted in this appraisal report whether any portion of the subject site is located in an identified Special
Flood Hazard Area. Because the appraiser is not a surveyor,he or she makes no guarantees,express or implied,regarding this
determination.
3. The appraiser will not give testimony or appear in couR because he or she made an appraisal of the property in question,
unless specific arrangements to do so have been made beforehand,or as otherwise required by law.
4. The appraiser has noted in this appraisal report any adverse conditions(such as needed repairs,deterioration,the presence of
hazardous wastes,toxic substances,etc.)observed during the inspection of the subject property or that he or she became aware of
during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report,the appraiser has no
knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property(such as,but not limited to,
needed repairs,deterioration,the presence of hazardous wastes,toxic substances,adverse environmental conditions,etc.)that
would make the property less valuable,and has assumed that there are no such conditions and makes no guarantees or
warranties,express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or
testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of
environmental hazards,this appraisal report must not be considered as an environmental assessment of the property.
5. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory
completion,repairs,or alterations on the assumption that the completion,repairs,or alterations of the subject property will be
performed in a professional manner.
Fredde Maz Fam 2(155 March 2(705 Pro0uce0 usinp AGI soTvare,800.334.8]27 www.acrv�e�.com Famie Mae Fnm 2(YS Marc�2005
P3ge00�6 2055 05090909
E�cterior-Only Inspection Residential Appraisal Report file No. spr13188709
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have,at a minimum,developed and reported this appraisal in accordance with the scope of work requirements stated in this
appraisal report.
2. I pertormed a visual inspection of the exterior areas of the subject property from at least the street.I reported the condition of
the improvements in factual,specific terms.I identified and reported the physical deficiencies that could affect the livability,
soundness,or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice
that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the
time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison
approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal
assignment. I further certify that I considered the cost and income approaches to value but did not develop them,unless otherwise
indicated in this report.
5. I researched,verified,analyzed,and reported on any current agreement for sale for the subject property,any offering for sale
of the subject property in the twelve months prior to the effective date of this appraisal,and the prior sales of the subject property
for a minimum of three years prior to the effective date of this appraisal,unless otherwise indicated in this report.
6. I researched,verified,analyzed,and reported on the prior sales of the comparable sales for a minimum of one year prior to the
date of sale of the comparable sale,unless otherwise indicated in this report.
7. I selected and used comparable sales that are locationally,physically,and functionally the most similar to the subject property.
8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home
that has been built or will be built on the land.
9. I have reported adjustments to the comparable sales that reflect the markeYs reaction to the differences between the subject
property and the comparable sales.
10. I verified,from a disinterested source,all information in this report that was provided by parties who have a financial interest in
the sale or financing of the subject property.
11. I have knowledge and experience in appraising this type of property in this market area.
12. I am aware of,and have access to,the necessary and appropriate public and private data sources,such as multiple listing
services,tax assessment records,public land records and other such data sources for the area in which the property is located.
13. I obtained the information,estimates,and opinions furnished by other parties and expressed in this appraisal report from
reliable sources that I believe to be true and correct.
14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood,subject
property,and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have
noted in this appraisal report any adverse conditions(such as,but not limited to,needed repairs,deterioration,the presence of
hazardous wastes,toxic substances,adverse environmental conditions,etc.)observed during the inspection of the subject property
or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in
my analysis of the property value,and have reported on the effect of the conditions on the value and marketability of the subject
property.
15. I have not knowingly withheld any significant information from this appraisal report and,to the best of my knowledge,all
statements and information in this appraisal report are true and correct.
16. I stated i�this appraisal report my own personal,unbiased,and professional analysis,opinions,and conclusions,which are
subject only to the assumptions and limiting conditions in this appraisal report.
17. I have no present or prospective interest in the property that is the subject of this report,and I have no present or prospective
personal interest or bias with respect to the participants in the transaction. I did not base,either partially or completely,my
analysis and/or opinion of market value in this appraisal report on the race,color,religion,sex,age,maritaf status,handicap,
familial status,or national origin of either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.
18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned
on any agreement or understanding,written or otherwise,that I would report(or present analysis supporting)a predetermined
specific value,a predetermined minimum value,a range or direction in value,a value that favors the cause of any party,or the
attainment of a specific result or occurrence of a specific subsequent event(such as approval of a pending mortgage loan
application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on
significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the
preparation of this appraisal report,I have named such individual(s)and disclosed the specific tasks performed in this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report;therefore,any change made to this appraisal is unauthorized and I will take no responsibility for it.
20. I identified the lender/client in this appraisal report who is the individual,organization,or agent for the organization that ordered
and will receive this appraisal report.
21. The lender/client may disclose or distribute this appraisal report to:the borrower;another lender at the request of the borrower;
the mortgagee or its successors and assigns;mortgage insurers;government sponsored enterprises;other secondary market
participants;data collection or reporting services;professional appraisal organizations;any department,agency,or instrumentality
of the United States;and any state,the District of Columbia,or other jurisdictions;without having to obtain the appraiser's or
supervisory appraiser's(if applicable)consent. Such consent must be obtained before this appraisal report may be disclosed or
distributed to any other party(including,but not limited to,the public through advertising,public relations,news,sales,or other
media).
Freddie Mac Fam 2055 March 2It05 PmCucetl usirg ACI soflware,800 23<.8121 www.ecivreE.com F,nnie Mae Form 2055 Marc�20D5
P�P S d 6 2055 05 090809
Exterior-Only Inspection Residential Appraisal Report FileNo spr13188709
22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws
and regulations. Further,I am also subjeet to the provisions of the Uniform Standards of Professional Appraisal Practice that
pertain to disclosure or distribution by me.
23. The borrower,another lender at the request of the borrower,the mortgagee or its successors and assigns,mortgage insurers,
government sponsored enterprises,and other secondary market participants may rely on this appraisal report as part of any
mortgage finance transaction that involves any one or more of these parties.
24. If this appraisal report was transmitted as an"electronic record"containing my"electronic signature,"as those terms are
defined in applicable federal and/or state laws(excluding audio and video recordings),or a facsimile transmission of this appraisal
report containing a copy or representation of my signature,the appraisal report shall be as effective,enforceable and valid as if a
paper version of this appraisal report were delivered containing my original hand written signature.
25. Any intentional or negligent misrepresentation(s)contained in this appraisal report may result in civii liability and/or criminal
penalties including,but not limited to,fine or imprisonment or both under the provisions of Title 18,United States Code,Section
1001,et seq.,or similar state laws.
SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:
1. I directly supervised the appraiser for this appraisal assignment,have read the appraisai report,and agree with the appraiser's
analysis,opinions,statements,conclusions,and the appraiser's certification.
2. I accept full responsibility for the contents of this appraisal report including,but not limited to,the appraiser's analysis,
opinions,statements,conclusions,and the appraiser's certification.
3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser(or the
appraisal firm),is qualified to perform this appraisal,and is acceptable to perform this appraisal under the applicabie state law.
4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal
report was prepared.
5. If this appraisal report was transmitted as an"electronic record"containing my"electronic signature,"as those terms are
defined in applicable federal and/or state laws(excluding audio and video recordings),or a facsimile transmission of this appraisal
report containing a copy or representation of my signature,the appraisal report shall be as effective,enforceable and valid as if a
paper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER SUPERVISORY APPRAISER(ONLY IF REQUIRED)
Signature � Signature ___
Name Suzanne M.F ien Name
Company Name Fahien Appraisal Services Company Name __.
Company Address P.O.eox 373 Company Address _
Montoursvilte,PA 17754
Telephone Number 570-a35-814o Telephone Number ____..
Email Address szfahien@amai�.com Emaii Address
Date of Signature and Report oa/o2rtot3 Date of Signature _
Effective Date of Appraisal oa/02/2013 State Certification# _
State Certification#RL-oo36�1 or State License#
or State License# State ___
or Other(describe) State# Expiration Date of Certification or License_
State PA
Expiration Date of Certification or License os/30/2013
PA Certified Residential Real Estale Appraiser
ADDRESS OF PROPERIY APPRAISED SUBJECT PROPERTY
205 Clinton Street ❑Did not inspect exterior subject property
Avis,PA 17721-8983 ❑Did inspect exterior of subject property from street
Date of Inspection __
APPRAISED VALUE OF SUBJECT PROPERTY$i10,o00
LENDER/CLIENT COMPARABLE SALES
Name Springhouse L�C ❑Did not inspect exterior of comparable sales from street
Company Name Ocwen Loan Senricinq LLC ❑Did inspect exterior of comparable sales from street
Company Address 1661 Worthinctton Road Date of Inspection _
West Palm Beach,FL 33409
Email Address
Freddie Mat Fam 2055 Malth 2005 GiotluceE usinp ACI soflware,8002}/.872]www.eciwe0.com Fannie Mae Fam 2055 Mazch 2W5
Pape 6 of 6 zass_os oeo9os
Fahien Appraisal Services
Exterior-Only Inspection Residential Appraisal Report File No. spr13188709
FEATURE SUBJECT COMPARABLE SALE N0.4 COMPARABLE SALE N0.5 COMPARABLE SALE N0.6
205 Clinton Street 408 East Central Avenue 301 Glover Street
Address Avis,PA 17721 Avis,PA 17721 Jerse Shore,PA 17740
Proximi toSuhect 0.80 miles E 2.62 miles ENE
Shce PriCe $ $ 109,900 $ 118,900 $
Sale Price/Gross LN.Area $ 0.00 .h. $ 87.22 .ft. $ 114.77 .i[. $ 0.00 5.ft.
DataSource s WBVMLS#WB-61674;DOM 68 WBVMLS#WB-66526'DOM 29
VerificaUon Source s EM Ins ,cthse rec,tax card Ext Ins ect,Tax Card,Ct Hse Rec
VALUEADJUSTMENTS DESCRIPTION DESCRIPTION +(-anrymtment DESCRIPTION .-SnquameM DESCRIPTION «(�)EA usmxn
Sale or Financing Listing Listing
Concessions 0 0
Date of SalelTime Active Active
Location Res Res,bs road 9,000 Res
Leasehold/Fee Sim le Fee Sim le Fee Sim le Fee Sim le
SHe 12000 S .Ft. 6534 sf 2,000 12950 sf 0
View Res Res Res
Desi n S le Ranch Ranch Ranch
uali of Construction Fr,vin VA Fr vin UA Fr,alum/A
Actual A e 42 57 0 84 8,000
Condition Aver e Aver e Aver e
Above Grade raa� eams am� ro�si arx� ea�� 2,000 raa� eams aarrs 2,000 Tae� ernms ea�ns
Room Count 5 3 1 5 2 1.0 0 5 2 1 0
GrossLnA Area15.00 912 .fl. 1,260 .ft. -5,200 1,036 s.ft. -1,900 s�.ft
Basement&Finished Full basement Osf 4,000 Full basement
Rooms Below Grade Unfinished Unfinished
Functional U61� Aver e Avera e Aver e
Heatin ICoolin FA/OiUNone FA/OiUNone BB/ElecMone 0
Ener E(ficient Items None noted None noted None noted
Gara e/Car ort 2 Car Gara e None 8,000 1 Car Gar e 4,000
Porch/PatiolDeck Deck Porch Porch 2,000 Deck, aches, at -4,000
LP/SP ratio 95% None None 95% -5,900
NetAdustment 7otal X + g 21,800 X + g 2,200 X + g 0
: Adjus[edSalePrice NetAdj. 19.8% NetAtlj. 1.9% NetAdj. 0.09G
: ofCom arables GrossAd. 29.345 $ 131 700 Gro�sAd. 21]% $ 121 100 GrossAd. 0.0°k � 0
ITEM SUBJECT COMPARABLE SALE N0.4 COMPARABLE SALE N0.5 COMPARABLE SALE N0.6
. Date of Prior SaleRransfer
, Price of Prior Sale/Transfer
: Data Source s CouAhouse Records Courthouse Records Courthouse Records
. Etfecbve Date ot Data Source s 04/02/2013 04/02/2013 04/02/2013
Summary ot Sales Comparison Approach
FredOie Mac Fam 2055 March 2005 Pratlucetl usng AG sMiware,800.33d.8i2]w�w.ecnreb.com Fannie M1iae Fam 2(I55 March 2005
AKS p5090909
ADDENDUM
Borrower: Michael L.Kibler File No.: spr13188709
Property Address: 205 Clinton Street Case No.:
City: Avis State: PA Zip: 17721-89fl3
Lender: Ocwen Loan Servicing,LLC
Neighborhood Description
The subject is located in a residential neighborhood which has average proximity to employment and amenities for the area. Shopping,
schools,and other amenities are located within the Avis and Jersey Shore areas and are within 5-15 minutes of the property. The
neighborhood is considered averege with homes of average construction and appeal. Employment in the general neighborhood is stable
and does not have a negative effect on value.Public trensportation is not available in the area.
Neighborhood Market Conditions
The 1004 MC indicates that there is not an oversupply of homes on the market at present,listing prices have remained stable and sales
prices have increased during the year. It should be noted that the statistical sample is considered to be too small to provide any meaningful
analysis of market conditions in the subjed's neighborhood.
Days on market are 69 days,the list to sale price ratio is 95%,as reported by the West Branch Valley Board of Realtors MLS.
The overall statistic for the area indicates that median sales prices have decreased by 1%,the days on market have decreased from 78 to
69 days,the list to sale price ratio has increased from 96%to 95%and the number of units sold in the area has increased from 67 to 75
during the year.The changes noted in the statistics are within normal market Fluctuations for the area.The market is considered to be stable
at present.
Comments on Sales Comparison
Comparables were found in the subjecYs neighborhood and market area and are considered to be suitable substitutes for the subject
property.Comparable#2 is located closest to the subject property,comparable#1 is most similar in square footage,comparables#1 and#2
are most similar in location. Comparable#1 has the least amount of gross adjustments and comparable#2 has the least amount of net
adjustments. Comparables#1 and#2 are given greater consideration in deriving the final opinion of value for the subject property.
Two listing comparables have been included as the request of the lender. These ve been adjusted by the current list to sale price ratio to
account for typical negotations belween buyer and seller. They are not given any consideration in deriving the opinion of value.
It is noted that the subject's appraised value is below the neighborhood predominant value range. The subject is not considered to be an
under-improvement and the neighborhood value range is not considered ta negatively impad the marketability of the propeRy.
It is noted that all comparables except comparable#1 are over 10 years different in age to the subject,adjustmens were made for the age
difference to comparables#2 and#5 as homes of this vintage are considered to have greater functional and physical depreciation. Other
sales which were more similar to the subject and which were doser in age were not available in the market data.
It is noted that the comparables vary by more than 10% in adjusted sales price,and that the comparables vary by more than 25%in GLA
than the subject property,this was unavoidable due to the thin selection of sales in the market area which were similar in style,age,location
and appeai to the subjed property.
It is noted that comparables#4 exceeds gross adjustment guidelines,comparable#4 exceeds net and gross adjustment guidelines,other
sales analyzed required greater adjustments and were not used for that reason.
Sales were researched in the Avis and Jersey Shore areas over the past year,the sales selected are considered to be suitable substitutes
for the subject propeAy.
All sales are arms length transactions and have been verified through the local MLS.
Addendum Page�of 1
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FREYSINGER PONTIAC, GMC, BUICK, MAZDA, HYUNDAI, INC.
6251 CARLISLE PIKE/MECHANICSBURG, PA 17050 • TEL.717-766-8422
OWNER OF VEHICLE: GIQRe-,co /� • �� 1���
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