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HomeMy WebLinkAbout07-01-05 REV.ISOO EX 16.00) COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE DEPT. 280601 HARRISBURG, PA 17128-0601 REV-1500 FILE NUMBER 21 05 INHERITANCE TAX RETURN RESIDENT DECEDENT COUNTY CODE YEAR I- Z W Cl W U W Cl DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL) LOGAN, Mary Lois DATE OF DEATH (MM-DD-YEAR) 02/01/2005 SOCIAL SECURITY NUMBER 176-07-6539 DATE OF BIRTH (MM-DD-YEAR) 03/06/1918 0109 NUMBER THIS RETURN MUST BE FilED IN DUPLICATE WITH THE REGISTER OF WILLS SOCIAL SECURITY NUMBER (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) n/a W I- :.::~tJ) uO:::':: wa.u :I: 0 0 uO::..J a. III a. <( ~ 1. Original Return o 4. Limited Estate o 6. Decedent Died Testate (Allach copy olWUI) o 9. Litigation Proceeds Received o 2. Supplemental Return o 4a. Future Interest Compromise (dale 01 dealh afler 12.12.82) o 7. Decedent Maintained a Living Trust (Allach copy 01 Trusl) o 10. Spousal Poverty Credit (daleofdealhbelween 12-31-91 and 1-1-95) D 3. Remainder Return (dale 01 dealh prior 1012-13.82) D 5. Federal Estate Tax Return Required ...L. 8. Total Number of Safe Deposit Boxes o 11. Election to tax under Sec. 9113(A) (Allach Sch 0) I- Z W C Z o a. U) w 0:: 0:: o U THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: NAME COMPLETE MAILING ADDRESS Richard L. Placey, Esquire 3631 North Front Street FIRMNAME(IfApp~able) Harrisburg PA 17110-1533 Placey & Wright ' TELEPHONE NUMBER (717) 236-9577 z o !4: ..J :J !:: a.. <( u W 0::: 1. Real Estate (Schedule A) 2. Stocks and Bonds (Schedule B) 3. Closely Held Corporation, Partnership or Sole-Proprietorship 4. Mortgages & Notes Receivable (Schedule D) 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) 6. Joinlly Owned Property (Schedule F) o Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G or L) 8. Total Gross Assets (total Lines 1-7) (1) (2) (3) (4) (5) 152,000.00 0.00 0.00 0.00 48,711.77 (6) 0.00 (7) 0.00 (9) (10) (8) 12,659.37 2,978.04 (11) (12) (13) 9. Funeral Expenses & Administrative Costs (Schedule H) 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) 11. Total Deductions (total Lines 9 & 10) 12. Net Value of Estate (Line 8 minus Line 11) 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) 14. Net Value Subject to Tax (Line 12 minus Line 13) (14) SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES z o ~ I- :::> a.. :2: o u >< ~ 15. Amount of Line 14 taxable atlhe spousal tax rate, or transfers under Sec. 9116 (a)(1.2) x.O _ (15) 16. Amount of Line 14 taxable at lineal rate 1?~,QZ4:~6 x.O 1~ (16) x .12 (17) 17. Amount of Line 14 taxable at siblin9 rate 18. Amount of Line 14 taxable at collateral rate x .15 (18) 19. Tax Due (19) 20.0 CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT > > BE SURE TO ANSWER ALL QUESTIONS ON REVERSE SIDE AND RECHECK MATH < < 200,711.77 15,637.41 185,074.36 0.00 185,074.36 0.00 8,328.35 0.00 0.00 8,328.35 Decedent's Complete Address: STREET ADDRESS .. nL~1-'llfi!!QwJ3_Q9c:L _ __. _. _.._____. __ CITY Camp Hill I STATEpA I ZIP 17011 Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount (1) 8,328.35 0.00 7,725.00 406.60 Total Credits ( A + B + C ) (2) 8,131.60 3. InteresUPenalty if applicable D. Interest E. Penalty 0.00 0.00 A. Enter the interest on the tax due. (5A) 0.00 0.00 196.75 0.00 TotallnteresUPenalty ( D + E ) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund (4) 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (58) Make Check Payable to: REGISTER OF WILLS, AGENT 196.75 PLEASE ANSWER THE FOllOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred; .......................................................................................... 0 [iJ b. retain the right to designate who shall use the property transferred or its income; ............................................ 0 [iJ c. retain a reversionary interest; or.......................................................................................................................... 0 [iJ d. receive the promise for life of either payments, benefits or care? ...................................................................... 0 [iJ 2. If death occurred after December 12, 1982. did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. 0 [iJ 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. 0 [K] 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ........................................................................................................................ 0 [iJ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. DATE 06/30/05 DATE 06/30/05 17110-1533 For dates of death on or after July 1, 1994 afl((r;;;!ore January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3% [72 P.S. \)9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the Sl The statute does not exemDt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of aSSE the surviving spouse is the only beneficiary. . M' ,.,,, n" !:Q11f; (~\ (11) (ii)J. '~e-. 2> ID .Ot:J mif ~IoO . cD rent, For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or or a stepparent of the child is 0% [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%, except as nol The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. \)9116(a)(1 individual who has at least one parent in common with the decedent, whether by blood or adoption. -Pd ~Yb ~,~~ ~ &J,()O 3S an '-\3~ , . '. REV.4B5 EX+ (1.92) i'., ~, 't. ~'f.. '~.~,.~ ~ SAFE DEPOSIT BOX INVENTORY COMMONWEALTH OF PENNSYlVANIA DEPARTMENT OF REVENUE INHERITANCE TAX DIVISION DEPT. 280601 HARRISBURG, PA 1712B.0601 Please Print or Type MUST BE COMPLETED BY REPRESENTATIVE OF FINANCIAL INSTITUTION WHERE SAFE DEPOSIT BOX IS LOCATED AND RETURNED TO ABOVE ADDRESS COUNTY CODE FILE NUMBER SOCIAL SECURITY OR DEATH CERTIFICATE NUMBER 21 0109 176-07-6539 . DECEDENT'S NAME (LAST, FIRST, MIDDLE) DATE OF DEATH Logan, Mary Lois February 1, 2005 . ADDRESS OF DECEDENT (STREET) (CITY) (STATE) (ZIP CODE) 1831 Willow Road Camp Hill NAME AND ADDRESS OF PERSON REQUESTING THE OPENING OF THE SAFE DEPOSIT BOX (NAME) Jeffrey M. Logan PA 17011 (STREET ADDRESS) (CITY) 514 Woodcrest Drive, Mechanicsburg, NAME. ADDRESS AND RELATIONSHIP (IF ANY) TO DECEDENT, OF PERSON(S) PRESENT AT THE BOX OPENING a. (NAME) (RELATIONSHIPI Jeffrey M. Logan Son/Co-Executor (STREET ADDRESS) (CITY) 514 Woodcrest Drive, Mechanicsburg, b. (NAME) (RELATIONSHIP) Richard L. Placey Attorney for (STREET ADDRESS) (CITY) 3631 North Front Street, Harrisburg, c. (NAME) (RELATIONSHIP) William M. Loqan Son/Co-Executor (STREET ADDRESS) (CITY) 805 Country Club Road, Camp Hill, . NAME AND ADDRESS OF FINANCIAL INSTITUTION WHERE THE SAFE DEPOSIT BOX IS LOCATED (NAME) M&T Bank (ST A TEl . (ZIP CODE) PA 17055 (STATE) (ZIP CODE) PA 17055 Estate (ST A TEl PA (ZIP CODE) 17110 (STATE) (ZIP CODE) PA 17011 (CITY) (STATE) (ZIP CODE) Lemoyne, PA 17043 DATE AND TIME OF LAST ENTRY Februar 2 2005 circa 10:00 M* . TITLE UNDER WHICH BOX IS REGISTERED Mary Lois La an (STREET ADDRESS) 10th and Lowther streets, . NAME OF PERSON MAKING LAST ENTRY Jeffrey M. Logan DATE OF CONTRACT TO RENT BOX September 28, 196 NA AND DDRESS OF PERSON(S)I'IAVING ACCESS TO BOX a. (NAME) b. (NAME) Mary Lois Logan Jeffrey M. Logan (STREET ADDRESS) (STREET ADDRESS) 1831 Willow Road 514 Woodcrest Drive (CITY) (STATE) (ZIP CODE) (CITY) (STATE) Camp Hill, PA 17011 Mechanicsburg, PA . NAME AND TITLE OF EMPLOYE TAKING THE INVENTORY Estate's attorney, Richard L. Placey (ZIP CODEI 17055 WAS A WILL IN THE BOX? DYES ~NO If yes, a. Date of will: b. Name and address of personal representative, if named in the will (NAME) (STREET ADDRESS) (STATE) (ZIP CODE) (CITY) c. Name and address of attorney, if any (NAME) (STREET ADDRESS) *Entry made to search for Will. (CITY) (STATE) (ZIP CODE) Page _~ of _ 1 INSTRUCTIONS (1) Cash: Report total only. (2) Stocks: List in detail every common or preferred certificate, warrant or other rights found in box. Stocks are to be designated by name of company, certificate number, date of certificate, name in which stock is registered, and number of shares and class of stock. (3) Obligations of U. S. Government: Number of items, date of issue, face value, names in which registered and type of ownership, i.e., jointly held, payable on death, etc. (4) Bonds: Designate by name, amount, serial number, or other designation. (Bearer Bonds) (5) Bank and Savings and Loan Passbooks: State name of depositor, number of book, last date appearing in book, name of bank and branch, and balance. (6) Jewelry, Coins, Stamps, Manuscripts, etc: List and describe as fully as possible. (7) Deeds, Mortgages, Current Insurance Policies or other evidences of indebtedness: List and describe as fully as possible. (8) All other contents. ITEM ITEM DESCRIPTION NO. 1. Deed from John M. Knaub, et aI, to Meade A. and Mary Lois Logan dated April 8, 1957 for property 1831 Willow Road, Lower Allen Township, Cumberland County, Pennsylvania. 2. Appraisal of Classic Firearms, Inc. for one Colt Revolving Shotgun, Serial Number 381 , dated December 1 , 1995. Valued at $6,500.00. 3. Receipt for dyed Persian lamb paws coat. I CERTIFY UNDER PENALTY OF PERJURY THAT THE ABOVE RECORD IS PERSON RECEIVING COPY OF CORRECT AND COMPLETE TO THE BEST OF MY KNOWLEDGE AND BELIEF. SAFE DEPOSIT BOX INVENTORY: SIGNATURE SIGNATURE PRINT NAME PRINT NAME AND CHECK APPROPRIATE BOX BELOW, Richard L. Placey, Esquire Jeffrey M. Logan and William M. Logan PRINT TITlE CHECK APPROPRIATE BOX, Attorney for Estate []:Executor(trix) D Administrator(trix) DEstate Representative D Joint owner of safe deposit box SAFEbEPOSIT BOX INVEN1\JRY NOTE: Attach additional SV2" x 11" sheet (s) if necessary or use duplicates of this page of form. o , " REV-1502 EX+ (6-98) SCHEDULE A REAL ESTATE COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF MARY LOIS LOGAN FILE NUMBER 21-05-0109 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1. Real estate situate in Lower Allen Township, Cumberland County, Pennsylvania, more particularly described in Cumberland County Recorder of Deed's Office in Deed Book "S", Volume 17, Page 521, known and numbered as 1831 Willow Road, Camp Hill, PA. (Appraised value. See appraisal attached.) 152,000.00 TOTAL (Also enter on line 1, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 152,000.00 - . . WOOF APPRAISAL GROUP File No. pVT7 4 71 APPRA\SAL OF A SINGLE FAMILY RESIDENTIAL HOME LOCATED AT: 1831 WILLOW ROAD CAMP HILL, PA 17011 FOR: WILLIAM LOGAN 805 COUNTRY CLUB ROAD CAMP HILL, PA 17011 BORROWER: - - -- " WOOF APPRAISAL GROUP File No. PVT7477 MARCH 15, 2005 WILLIAM LOGAN 805 COUNTRY CLUB ROAD CAMP HILL, PA 17011 File Number: PVT7477 DEAR BILL, In accordance with your request, I have personally inspected and appraised the real property at: 1831 WILLOW ROAD CAMP HILL, PA 17011 The purpose of this appraisal is to estimate the market value of the subject property, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the estimated market value of the property as of FEBRUARY 1, 2005 is: $152,000 ONE HUNDRED FIFTY-TWO THOUSAND DOLLARS The attached report contains the description, analysis and supportive data for the conclusions, final estimate of value, descriptive photographs, limiting conditions and appropriate certifications. SINCERELY; ~~~ REYNOLD R. WOOF, JR. IFAS PA CERTIFIED GENERAL REAL ESTATE APPRAISER ~~ .FannieMae Desktop Underwriter Quantitative Analysis Appraisal Report File No.: PVT7477 THIS SUMMARY APPRAISAL REPORT IS INTENDED FOR USE BYTHE LENDER/CLIENT FOR A MORTGAGE FINANCE TRANSACTION ONLY. Prooertv Address 1831 WILLOW ROAD City CAMP HILL State P A Zip Code 17011 Leaal Descriotion UNKNOWN County CUMBERLAND Assessor's Parcel No. 13-23-0547-405 TaxYear 04/05 R.E.Taxes $ 2251.33 Special Assessments $ NONE .. Borrower Current Owner ESTATE OF MARY LOGAN Occupant: I 1 Owner r lTenant rxlvacant Neiahborhood or Proiect Name CEDAR VILLAGE Proiect Type IpUD I ICondominium HOA$ N/A /Mo. Sales Price $ MARKET Date of Sale NI A Description/$ amount of loan charges/concessions to be paid by seller NI A Prooertv riahts aonraised I X ] Fee Simple I 1 Leasehold I Mao Reference N/A Census Tract 3240-109 . Note: Race and the racial composition ofthe neighborhood are not appraisal factors. . Location 0 Urban [KJ Suburban U Rural Property values W Increasing l2sJ Stable W Declining Single family housing ~ . Built up 00 Over 75% 0 25-75% 0 Under 25% Demand/supply 0 Shortage 00 In balance 0 Over supply PRICE AGE . $(OOO) (yrs) $(OO~ (yr~ . Growth rate M Rapid iXi Stable n Slow Marketing time !Xl Under 3 mos. M 3-6 mos. n Over 6 mos. .. 115 Low 40 NI Low ~ Neighborhood boundaries THE NEIGHBORHOOD BOUNDARIES CONSIST OF HOMES IN THE AREA 180 High 60 N/A High N/A COMMONLY KNOWN AS CEDAR VILLAGE AND THE SURROUNDING DEVELOPMENTS IN Predominant Predominant LOWER ALLEN TOWNSHIP. 135 50 N/A N/A Dimensions NOT PROVIDED Site areaO.31 ACRES Shape PIE SHAPE Specific zoning classification and description R-1; RESIDENTIAL Zoning compliance lKJ Legal 0 Legal nonconforming (Grandfathered use); 0 Illegal, attach description o No zoning Hiahest and best use of subiect orooerty as improved (or as proposed per plans and specifications): fXl Present use n Other use, attach descriotion. Utilities Public Other Public Other Off-5ite Improvements Type Public Private Electricity [K) Water [K) Street MACADAM [K) R Gas !Xl Sanitary sewer 00 Alley NONE n Are there anv aooarent adverse site conditions 1 easements, encroachments, special assessments, slide areas, etc.)? f ] Yes IXl No If Yes, attach descriotion. Source(s) used for physical characteristics of property: U Interior and exterior inspection H Exterior inspection from street U Previous appraisal files n MLS nAssessment and tax records h Prior Inspection n Property owner Other (Describe): No. of Stories 1 Tvoe lDet./Att.) DETACHED Exterior Walls BRICK Roof Surface FIBERGL.SH. Manufactured Housina r l Yes rxl No Does the propertv aenerallv conform to the neiahborhood in terms of style, condition, and construction materials? IX] Yes I I No If No, attach descriotion. . Are there any apparent physical deficiencies or conditions that would affect the soundness or structural integrity of the improvements or the livability of the property? . n Yes rXi'No If Yes, attach descriotion. . Are there any apparent adverse environmental conditions (hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of the subiect orooertv?nYes fXl No If Yes, attach description. I researched the subject market area for comparable listings and sales that are the most similar and proximate to the subject property. My research revealed a total of 8 sales ranging in sales price from $ 124,900 to $ 146.900. My research revealed a total of N/A listings ranging in list price from $ N/A to $ N/A. The analvsis of the comnarable sales below reflects market reaction to sianificant variations between the sales and the subiect propertv. FEATURE SUBJECT SALE 1 SALE 2 SALE 3 1831 WILLOW ROAD 1813 WILLOW ROAD 29 CENTER DRIVE 16 CLEMSON DRIVE Address CAMP HILL CAMP HILL CAMP HILL CAMP HILL Proximity to Subiect 0.10 MILES 0.49 MILES 0.40 MILES Sales Price $ MARKET $ 134 900 $ 142,900 $ 138 900 Price/Gross Liv. Area $ 0.00 ItI $ 107.40 ItI $ 104.151t1 $ 110.241t1 Data & Verif. Sources MULTI-LIST & COUNTY DATA MULTI-LIST & COUNTY DATA MULTI-LIST & COUNTY DATA VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I + (-) $ Aquslmenl DESCRIPTION I · (-) $ Ad;JstmenI DESCRIPTION I + (-) $ Aqusm1ent Sales or Financing CONVENTIONAL , CONVENTIONAL , CONVENTIONAL , , , Concessions 24 DOM , 19 DOM , 1 DOM , , , , Date of Sale/Time N/A 10/15/2004 , 04/26/2004 , 08/26/2004 , , , , Location SUBURBAN SUBURBAN , SUBURBAN , SUBURBAN , Site 0.31 ACRES 0.19 ACRES , 0.20 ACRES , 0.22 ACRES , , , , View TYPICAL TYPICAL , TYPICAL , TYPICAL , , , , Desian IStvle) RANCH RANCH , RANCH : RANCH , , , Actual Aae IYrs.) 48 50 , 49 , 49 , , , , . Condition AVERAGE AVERAGE , AVERAGE , AVERAGE , , , , . Above Grade Total , Bdrms ' Baths Total : Berms ' Baths , Total : Berms ' Baths , Total : Bdrms . Baths , , , , , Room Count 7 , 3 : 1.50 6 , 2 , 1.00 , +2,000 6 , 3 , 1.00 , +2,000 5 ' , 1.00 , +2,000 . , , , , , , , , 3 , , . Qoss l..ivi1a Area 1.634 Sa. Ft. 1 256 Sq. Ft.: +9 500 1 372 Sq. Ft.: +6,600 1 260 Sa. Ft.: +9 400 . Basement and Fnished PART BASEMENT FULL BASEMENT: FULL BASEMENT: FULL BASEMENT: . Rooms Below Grade REC DEN P.R. REC. ROOM , +2 500 THREE ROOMS , +1 000 UNFINISHED , +5 000 , , , . Garaae/Caroort OFF STREET 1 CAR CARPORT: -2 500 1 ATT GARAGE , -4 000 1 CAR CARPORT: -2 500 , EXTRA'S FP, CIA SHEDS CIA , +3 000 FIREPLACE , +3000 FP CIA SHEDS , , , , . EXTRA'S ENC'D paR, PATIO ENC'D PORCH , +1 000 PORCH, PATIO , +3000 ENC'D paR, PATIO , , , , Net Adi. Itotal) Ix] + I 1- :$ 15500 I [X] + [ ]- :$ 11,600 rxl + r 1- :$ 13,900 Adjusted Sales Price Gross: 15.2% Gross: 13.7% Gross: 13.6% of Comparables Net: 11.5% $ 150 400 Net: 8.1% $ 154,500 Net: 10.0% $ 152,800 Date of Prior Sales N/A N/A N/A N/A Price of Prior Sales $ N/A $ N/A $ N/A $ N/A , . De.ktop Underwriter Quantitative Analysis Appraisal Report Project Information for PUDs (if applicable)--Is the developer/builder in control of the Home Owners' Association (HOA)? Provide the following information for PUDs only if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit: Total number of phases Total number of units Total number of units sold Total number of units rented Total number of units for sale Data Source(s) . Was the project created by the conversion of existing buildings into a PUD? 0 Yes 0 No If yes, state date of conversion: Does the project contain any multi-dwelling units? 0 Yes 0 No Data Source: Are the common elements completed? 0 Yes 0 No If No, describe status of completion: Are any common elements leased to or by the Home Owners' Association? Describe common elements and recreational facilities: No If yes, attach addendum describing rental terms and options. Project Information for Condominiums (if applicable)--Is the developer/builder in control of the Home Owners' Association (HOA)? Provide the following information for all Condominium Projects: Total number of phases Total number of units Total number of units rented Total number of units for sale Was the project created by the conversion of existing buildings into a condominium? 0 Yes 0 No Project Type: 0 Primary Residence 0 Second Home or Recreational 0 Row or Townhouse . Condition of the project, quality of construction, unit mix, etc.: No Total number of units sold Data Source(s) If yes, date of conversion: o Garden 0 Midrise 0 Highrise Are the common elements completed? No If No, describe status of completion: Are any common elements leased to or by the Home Owners' Association? Describe common elements and recreational facilities: No If yes, attach addendum describing rental terms and options. PURPOSE OF APPRAISAL: The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report based on a quantitative sales comparison analysis for use in the mortgage finance transaction. 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 considers his 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 com parables 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 not 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 market's 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 following 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, will 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 any required 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 will 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. 4. The appraiser has noted in the appraisal report any adverse conditions (such as, but not limited to, needed repairs, 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 (including 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, expressed or implied, regarding the condition of the property. 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. 5. 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. 6. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Annr~i~,.,.1 Dr~,,+i,..,^ . . De~ktop Underwriter Quantitative Analysis Appraisal Report APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of the comparable sales (unless I have otherwise indicated in this report that I also inspected the interior of the subject property); (2) collecting, confirming, and analyzing data from reliable public and/or private sources; and (3) reporting the results of my inspection and analysis in this summary appraisal report. I further certify that I have adequate information about the physical characteristics of the subject property and the comparable sales to develop this appraisal. File No.: PVT7477 2. I have researched and analyzed the comparable sales and offerings/listings in the subject market area and have reported the comparable sales in this report that are the best available for the subject property. I further certify that adequate comparable market data exists in the general market area to develop a reliable sales comparison analysis for the subject property. 3. 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 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 property of which I am aware, have considered these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them, and have commented about the effect of the adverse conditions on the marketability of the subject property. 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. 4. 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. 5. 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 the estimate of market value in the appraisal report on the race, color, religion, sex, age, marital 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. 6. 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 property. 7. 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 value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 8. I estimated the market value of the real property that is the subject of this report based on the sales comparison approach to value. I further certify that I considered the cost and income approaches to value, but, through mutual agreement with the client, did not develop them, unless I have noted otherwise in this report. 9. I performed this appraisal as a limited appraisal, subject to the Departure Provision 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 the place as of the effective date of the appraisal (unless I have otherwise indicated in this report that the appraisal is a complete appraisal, in which case, the Departure Provision does not apply). 10. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value. The exposure time associated with the estimate of market value for the subject property is consistent with the marketing time noted in the Neighborhood section of this report. The marketing period concluded for the subject property at the estimated market value is also consistent with the marketing time noted in the Neighborhood section. 11. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. I further certify that no one provided significant professional assistance to me in the development of this appraisal. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certified and agrees that; I directly supervise the appraiser who prepared the appraisal report, have examined the appraisal report for compliance with the Uniform Standards of Professional Appraisal Practice, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 5 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. APPRAISER: Signature: ~ ~~ Name: REYNOLD R. WOOF, JR. I S Company Name: WOOF APPRAISAL GROUP Company Address: 302 S. FRONT STREET WORMLEYSBURG, PA 17043 Date of Report/Signature: 03/15/2005 State Certification #: GA-000002-L or State License #: State: PA Expiration Date of Certification or License: 06/30/2005 PA CERTIFIED GENERAL REAL ESTATE APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED): Signature: Name: Company Name: Company Address: Date of Report/Signature: State Certification #: or State License #: State: Expiration Date of Certification or License: ~'FannieMae Desktop Underwriter Quantitative Analysis Appraisal Report File No.: PVT7477 FEATURE SUBJECT SALE 4 SALE 5 SALE 6 1831 WILLOW ROAD 5 BEAVER ROAD Address CAMP HILL CAMP HILL Proximity to Subiect 0.17 MILES Sales Price $ MARKET $ 129,900 $ $ Price/Gross Liv. Area $ 0.00 1LI $ 117.341L1 $ 1LI $ 1LI Data & Verif. Sources MULTI-LIST & COUNTY DATA VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I +(.)$~ DESCRIPTION I +(.)$~ DESCRIPTION I + (.) $ AqusIment Sales or Financing FHA 0 0 0 0 0 0 Concessions 93 DOM 0 0 0 0 0 0 Date of Salemme NIA 07/29/2004 0 0 0 0 0 0 Location SUBURBAN SUBURBAN 0 0 0 . 0 0 0 Site 0.31 ACRES 0.16 ACRES 0 0 0 . 0 0 0 . View TYPICAL TYPICAL 0 0 0 0 0 0 Desion (Stvle) RANCH RANCH 0 0 0 0 : Actual Aoe (Yrs.) 48 50 0 0 0 0 0 0 . AVERAGE AVERAGE 0 0 0 Condition 0 0 0 · Above Grade Total : Bdrms: Baths Total 0 Bdrms 0 Baths 0 Total : Bctms I Baths 0 Total : Bdrms : Baths 0 0 0 0 Room Count 7 0 3 : 1.50 6 0 3 0 1.00 0 +2,000 0 0 0 0 , 0 0 0 0 0 0 0 0 0 , 0 . Qoss I..M1a Area 1 ,634 SQ. Ft. 1 107 Sa. Ft.: +13200 Sq. Ft.: Sq. Ft.: Basement and FIIlisI1ed PART BASEMENT FULL BASEMENT: 0 0 0 0 Rooms Below Grade REC DEN,P.R. REC RM & DEN , +1 000 0 0 0 0 0 Garaae/Caroort OFF STREET OFF STREET 0 0 0 0 0 0 EXTRA'S FP, CIA SHEDS FP, CIA 0 +1 000 0 0 0 0 EXTRA'S ENC'D POR, PATIO NONE , +4,500 0 0 , 0 0 Net Adi. (total) Ixl + I 1- :$ 21,700 rxl + r l- :$ o fxl + fl- '$ 0 Adjusted Sales Price Gross: 16.7% Gross: 0.0% Gross: 0.0% of Comoarables Net: 16.7% $ 151,600 Net: 0.0% $ 0 Net: 0.0% $ 0 Date of Prior Sales NIA NIA Price of Prior Sales $ N/A $ NIA $ $ . . . . . . Borrower: ' Pro ert Address: 1831 WILLOW ROAD Ci : CAMP HILL Lender: SUBJECT PROPERTY PHOTO ADDENDUM File No.: PVT7477 Case No.: State: PA ~J"~';~' <~~ ~.~.~~ ~:c_u-~~~~;i":~l:~~~~~~ - - . -"'-" - '. , . ~ ,.~... - ",-,." .:..' - . "". ~ ~~... ~?-?;i"Z;.. ~~~::~._-:;: ::~.-:(';~ ;~~fc-!~ --. --., .-.......'m-""". "",,,. --~ -'"!'Ii.,::: - .-............,., ...-.. -'Ii. _"___'~.", Zi : 17011 FRONT VIEW OF SUBJECT PROPERTY Appraised Date: FEBRUARY 1, 2005 Appraised Value: $152,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: . Property Address: 1831 WILLOW ROAD City: CAMP HILL Lender: COMPARABLE PROPERTY PHOTO ADDENDUM File No.: PVT7477 Case No.: State: PA Zip: 17011 COMPARABLE SALE #1 1813 WILLOW ROAD CAMP HILL Sale Date: 10/15/2004 Sale Price: $ 134,900 COMPARABLE SALE #2 29 CENTER DRIVE CAMP HILL Sale Date: 04/26/2004 Sale Price: $ 142,900 COMPARABLE SALE #3 16 CLEMSON DRIVE CAMP HILL Sale Date: 08/26/2004 Sale Price: $ 138.900 Borrower: . Property Address: 1831 WILLOW ROAD City: CAMP HILL Lender: COMPARABLE PROPERTY PHOTO ADDENDUM File No.: PVT7477 Case No.: State: PA Zip: 17011 COMPARABLE SALE #4 5 SEAVER ROAD CAMP HILL Sale Date: 07/29/2004 Sale Price: $ 129,900 COMPARABLE SALE #5 Sale Date: Sale Price: $ COMPARABLE SALE #6 Sale Date: Sale Price: $ FLOORPLAN Borrower: File No.: PVT7477 Property Address: 1831 WILLOW ROAD Case No.: City: CAMP HILL State: PA Zip: 17011 lender: 26.00' 8.00' 0 0 Patio 0 0 ...... Shed 0 co ...... 62.00' 14.00' ~I 7.00' 4.00' 9.00' I Shed 0 0 v 0 One Story 0 N One Story 0 Enclosed N Slab 0 0 co Porch ~ Basement N 0 N 17.00' 0 0 co 13.00' 45.00' Sketch by Apex IV Windows TM AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code Description Size Totals Breakdown Subtotals GLA1 First Floor 1634.0000 1634.0000 First Floor BSMT Basement 1260.0000 1260.0000 22.00 x 62.00 1364.0000 Pip ENCLOSED PORCH 276.0000 6.00 x 45.00 270.0000 SHED 36.0000 SHED 128.0000 PATIO 318.0000 758.0000 " .... i i !:; .. -- 'f' ~ 'p..ddfesS', '\83'\ W\LLOW ROt>-O AMP r\\LL r. ~(J"-V' . .tJt\~~\" .... .#Qt-vt-1>41i :~ . C,'f.o;.r?f> ~ ..,d-# ~.'" ,'G~~' ... H.L \~ 'r.f:$H :A\tM' / ~'\ " .NOO ,,/'" l/I ..- .~ . :0 €// ..0* 't>': t'1,' . ~ o .r'~ ..j,,~ .....r-_....~. ~ .5 ~ xC e 't.::I4>. . ;avo' LOCA. 'noN tAA.P .q~ q~ p :..:)1'-.)1' o a:. 9. . 'Z. . \? \.l- 4.. ,.~ tt . '2. W \J.l a:. ..) td ~ '-8 ~ ~.u o~ ~.~ . Ato.().!"I.-:i. ~ ~ f ~ :>tWd S~nHV'f"j3 i1l0M ~ .c.~ ~#-t.v- !'.:rd' ."" ;:;JfJ;; tJ VG30 .,E}:Jf.JH S.M- . . "-.,fI~ 1(;- .........r1.~. . 6~~fij." . ##\..t\. l.il ~ (:) ~ r< 1;% 8~ ...:.'13NtM~f). . ;"}j :t:: :. SJ.N3::). U..; .. ~~*3WnlOZ1 / "0: OJ. (.':W ~i 'D :>"0'-- v', ).,. ~ ~Q V til ~ (:) "5 (I) ~~ 0...0 0...... ~ \.Cl ft ~ 4 \:0 '4~\. '\ ~~. '7 . .\.2.' , ..~ b;y ~ v -t-. f\\e ~o:, p\{\7477 Case ~o:, Zi : '\10'\ '\ state', p t>- --:"" /1' \ \>~~. ~ R '\ ~ ~ ,t..'> ~~ y '.X /.' C) u.o ' ''t ( u '" ..~ W ~ .~ .{i. '" // ~~'< .xo~ A :09 /...... ~ 4/ Q ,,oJ'....r'" ~~,' t:;:>- \ 7 10'" -1 %'~ 8~ ~ ~ ~ ~1 .~...... ~$;ci Vi...... ~ ~ p Q g r.' ...;. Q ,-I A ,. :a .... g g r. ,.. ~ g ~ ~~ %P=l otr"l l\ #~ _S/t\Sf -<.~ ~0-q.. ~# r:-1S ,.? ~ \ 'l('A ~: REV-150B EX+ (6-9B) ~k COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF MARY LOIS LOGAN FILE NUMBER 21-05-0109 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1. *M&T Bank Checking Account No. 56145020 (Principal- $12,036.13; Interest - $1.02) 2. *M&T Bank Checking Account No. 8892339659 3. *M& T Bank Savings Account No. 15004198160605 (Principal - $26,032.42; Interest - $20.40) 12,037.15 25.00 4. Highmark Blue Shield - reimbursement 26,052.82 20.75 5. Verizon - refund account credit 21.27 6. Beverly Enterprises, Inc. - refund nursing home 1,947.51 559.27 7. Highmark Blue Shield - refund unused premium 8. Gross proceeds sale of household goods 8,048.00 OSee bank letter attached TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 48,711.77 . . m1 M&I'Bank 499 Mitchell Street, Millsboro, DE 19966 February 16, 2005 Placey & Wright Attorneys At Law 3631 North Front Street Harrisburg, PA 17110-1533 RE: Estate of Mary Lois Logan Date of Death: February 1, 2005 Social Security Number: 176-07-6539 Dear Mr. Placey: In response to your request, please be advised that at the time of death, the above- named decedent had on deposit with this bank the following accounts. 1. Account Type.. . . .. .. . . .. .. . . . . . .. .. .... Checking Account Number....................... 56145020 Ownership (Names of).............. Mary Lois Logan Opening Date..... ..................... .08/28/64 (account closed 02/15/05) Balance on Date of Death.... .....$12,036.13 Accrued Interest $ 1.02 Total.. ...... ........................... ....$12,037.15 2. Account Type.. .. .. .. . .. .. .. .. . .. .. .. ... Checking Account Number..... .................. 8892339659 Ownership (Names of).............. Mary Lois Logan Opening Date.... ..................... ..02/07/02 (account closed 02/15/05) Balance on Date of Death....... ..$25.00 Accrued Interest $ 0.00 TotaL.................................... ..$25.00 , . . Page 2 February 16, 2005 3. Account Type.............. ... . .. . .. . ... Savings Account Account Number..... ,..... ,.......... 15004198160605 Ownership (Names of).............. Mary Lois Logan Opening Date...........................02/07 /02 (account closed 02/15/05) Balance on Date ojDeath.........$26,032.42 Accrued Interest $ 20.40 Total................................... ....$26,052.82 The above named decedent did not have a safe deposit box with this bank. For any additional information on this account please contact our Highland Park branch at 717-737-3322. Sincerely, '1 L ~rV~ C/JAvUlIU WWLtuy U Charlene Warrington, Records Management 1-888-502-4349 REV-1511 EX+ (12-99) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF MARY LOIS LOGAN FILE NUMBER 21-05-0109 Debts of decedent must be reported on Schedule I. ITEM NUMBER A. DESCRIPTION AMOUNT 1. FUNERAL EXPENSES: Good Hope Farms - post-funeral luncheon 1,315.75 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions 0.00 Name of Personal Representative(s) Social Security Number(s)/EIN Number of Personal Representative(s) Street Address City State Zip Year(s) Commission Paid: 2. Attorney Fees 6,500.00 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) 0.00 Claimant Street Address City State ,Zip Relationship of Claimant to Decedent 4. Probate Fees 302.00 5. Accountant's Fees 0.00 6. Tax Return Preparer's Fees 0.00 7. Cumberland Law Journal - estate advertising 75.00 8. Patriot-News Company - estate advertising 100.95 9. Woof Appraisal Group - real estate appraisal 300.00 10. Claude C. Wolfe & Associates - expenses public auction 3,065.67 11. Reserve for future costs, taxes and expenses 1,000.00 TOTAL (Also enter on line 9, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 12,659.37 . . REV-1512 EX+ (12.03) SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF MARY LOIS LOGAN FILE NUMBER 21-05-0109 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. UGI Utilities, Inc. - various billlings 567.14 2. PharMerica - debt of decedent 103.99 3. West Shore EMS-BLS - debt of decedent 170.92 4. PPL Electric Utilities - various billings 111.59 5. Pennsylvania American Water - various billings 60.45 6. Placey & Wright - pre-death services 1,187.00 687.74 7. Bonnie K. Miller, Treasurer - 2005 county/township real estate taxes 8. Lower Allen Township - sewer/refuse 79.21 9. Bonnie K. Miller, Treasurer - 2005 personal tax 10.00 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 2,978.04 . . REV-1513 EX+ (9-00) SCHEDULE J BENEFICIARIES COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF MARY LOIS LOGAN NUMBER I NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY TAXABLE DISTRIBUTIONS [include o.u!right spousal distributions, and transfers under Sec. 9116 (a) (1.2)] William M. Logan, 805 Country Club Road, Camp Hill, PA 17011 RELATIONSHIP TO DECEDENT Do Not List Trustee(s) Son Son FILE NUMBER 21-05-0109 AMOUNT OR SHARE OF ESTATE One-Half Residue One-Half Residue ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET II NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE 1. 2. Jeffrey M. Logan, 514 Woodcrest Drive, Mechanicsburg, PA 17055 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 0.00 (If more space is needed, insert additional sheets of the same size) ~ ,. LAST WILL AND TESTAMENT OF MARY LOIS LOGAN I, MARY LOIS LOGAN, now of Lower Allen Township, Cumberland County, Pennsylvania, declare this to be my Last Will and Testament and hereby revoke all prior Wills and Codicils made by me. ITEM I. I direct that all of my just debts and funeral expenses, including the cost of my gravemarker, if any, shall be paid for from my residuary estate as soon as practical after my decease as an administrative expense of my estate. ITEM II. I give my hat rack to my son, WILLIAM M. LOGAN, should he survive me. ITEM III. I give my pottie chair, cherry table in the dining room, cedar chest and my grandfather's porch rocker to my son, JEFFREY M. LOGAN, should he survive me. ITEM IV. I give and devise all of the rest, residue and remainder of my estate of every nature and wherever situate in equal shares, share and share alike, unto my sons, WILLIAM M. LOGAN and JEFFREY M. LOGAN, or the survivor ofthem. ITEM V. I appoint my sons, WILLIAM M. LOGAN and JEFFREY M. LOGAN, or the survivor ofthem, Co-Executors of this my Last Will and Testament. No bond shall be required by my personal representative(s) in any jurisdiction. _' ., I ' . \-::') - /c..,'?/'? .Ii /1 ?.A' ., . f f ,,/) A~~'! )/f..e--,/~ .I. ,.//\.--""l'-""<.h r (,.' \._..,. ,i./ Mary Lois Logah ') j ITEM VI. In addition to the powers given by law to my personal representative(s) and trustee(s) [hereinafter fiduciaries] in the administration of my estate and of any trust(s) created herein, they shall have the following discretionary powers applicable to all real and personal property held by them, including property held for minors, effective without court order until actual distribution. A. To retain any property owned by me at my death and to invest any funds held by them in any stocks, bonds, notes or other securities or property, real or personal, including common trust funds, mutual funds and money market deposit accounts operated or offered by my corporate trustee, if any, or any affiliate of it. B. To sell or otherwise dispose of any propeliy, real or personal, at any time forming a part of my estate or the trust estate, for cash or upon credit, in such manner and on such terms as they see fit, and no one dealing with the fiduciaries shall be bound to see to the application of any monies paid. C. To manage, operate, repair, improve, mortgage or lease for any term [even if beyond the duration ofthe trust(s)] any real estate at any time held or owned by them as fiduciaries. D. To hold investments in the name ofa nominee and exercise and dispose of warrants. E. To engage in litigation and compromise, arbitrate or abandon claims and property. F. To conduct any business in which I am engaged or in which I have an interest at the time of my death for such period as the fiduciaries deem advisable, with the power to borrow money and to pledge the assets of the business and to do all other acts which I, in my lifetime, could have done, or to delegate such powers to a partner, manager or employee without liability for any loss occurring therein. /1 'J ,.;J j' / j I ,;~4, 7) ?'~ '\ /A---:'1. . ~'V . . / :f U' Mary Lo~s Logan 2 G. To allocate items of receipt or disbursement between principal and income as the fiduciaries deem equitable regardless of the character given such items by law; to distribute in cash or kind or partly in each at valuations fixed by the fiduciaries. H. To borrow money, including the right to borrow from any corporate trustee, if any, and to mortgage or pledge as security or to hold its own stock if a corporate trustee. 1. To join in any merger, reorganization, voting trust plan or other concerted action of security holders, and to delegate discretionary duties with respect thereto. J. Should the principal of any trust herein provided for be or become too small in trustee's opinion so as to make establishment or continuance of the trust inadvisable, my trustee(s) may make immediate distribution of the then remaining principal and any accumulated or nndistributed income outright to the person or persons and in the proportion they are then entitled to income. Upon such termination, the rights of all beneficiary(ies) who might otherwise have an interest as succeeding income beneficiary(ies) or in remainder shall cease. K. In general, to exercise all powers in the management of the assets of my estate or the trust estate which any individual could exercise in the management of similar property owned in his own right, upon such terms and conditions as the fiduciaries may deem best, and to execute and deliver all instruments and to do all acts which the fiduciaries may deem necessary or proper to carry out the purposes of this will or any trust(s) created herein. L. To apply income or principal to which any beneficiary is entitled, directly for his or her comfort, maintenance and support, should the fiduciaries deem such beneficiary incapable of receiving the same by reason of age, illness, infirmity or incapacity, or to pay the same to such person /2 )" _? , ),# . .. ..cz~... (-!J~-rr--=?"3~7~~~ Mary Lois Lo an .. ---- 3 or persons as the fiduciaries select to disburse it, whose receipt shall be a complete acquittance therefore without the intervention of any guardian. M. To assume continuance of the status of any beneficiary with reference to death, marriage, divorce, illness, incapacity or other change in the absence of information deemed reliable without liability for disbursements made on such assumptions. N. All principal and income shall, until actual distribution to any beneficiary, be free of the debts, contracts, alienations and anticipations of any beneficiary, and the same may not be liable for any levy, attachment, execution or sequestration while in the hands of any beneficiary, and the same may not be liable for any levy, attachment, execution or sequestration while in the hands of any fiduciaries. IN WITNESS WHEREOF, I have hereunto set my hand and seal t~ df;t, of ,/VCJ VrJ} i1~ h,JJIl~2001. ~ ~' ;? ./.?1:o/4~~ The preceding instrument, consisting of this and three other typewritten pages, identified by the signature of the testatrix, as on the day and date thereof signed, published and declared by Mary Lois Logan, the testatrix therein named, as and for her last Will, in the presence of us, who, at her request, in her presence and in the presence of each other, subscribed our names as witnesses hereto. ~ t(}dh(k L(~ J 'W~ /f3~ MLhr- ~ thp /iLL J r '3 Y (A ) ~'1;-.J Le(. ( LVl--d' I~ 4 ~. ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA: : SS. COUNTY OF DAUPHIN I, MARY LOIS LOGAN, testatrix whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my last Will, that I signed it willingly, and that I signed it as my free and voluntary act for the purposes therein expressed. ))t ...~ ~&~ Mary t:iLOgan ,-::;5 {/ .A.wo~"-affirmed to and acknoyvledged before me, by)\1ary Lois Logan, .." testatrix, this '..< 'f day of /V J "'-0 /w !:lPfL, ,/ ' 200.1., / !1J;.!_~ /'- ~-z"'-J1 / / / '-- (B:!9bartfL Placey, Attorney~"..__~ PA Supreme Court J.D. No. 07232 ...... AFFIDA VIT COMMONWEALTH OF PENNSYLVANIA: : SS. COUNTY OF DAUPHIN: , V Uu T( I C?,h -r We,J..( N J Q ~t wh (J-0 -d- !o< A71yJ~ ~the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw testatrix sign and execute the instrument as her last Will; that she signed willingly and that she executed it as her free and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the testatrix signed the Will as witnesses; and that to the best of our knowledge the testatrix was at that time 18 or more years of age, of sound mind and under no constraint or undue influence. 2001. ~t11dGtz ~~ V'0~ Sworn to and subscribed before me this d2~;;'f Nn U (J h( JLt /{c ..~_...,-) ~ I . ... . COMMONWEAL 1R OF PENNSYLVANIA: : SS. COUNTY OF DAUPHIN On this, the 1710 day of norcmlur ,2001, before me, the undersigned officer, personally appeared Richard L. Placey, Supreme Court LD. No. 07232, known to me (or satisfactorily proven) to be a member of the bar of the highest court of said state, and certified that he was personally present when the foregoing acknowledgment and affidavit were signed by the testatrix and witnesses. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~YJ. ,~ N tary Pu lie My Commission Expires: NOTARIAL SEAL HOLLY S. KIRK, Notary Public Harrisburg, Dauphin County My Commission Expires Feb. 15, 2003 COMMONWEALTH OF PENNSYLVANIA REV-1162 EX(11-96) DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 PENNSYLVANIA RECEIVED FROM: INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT NO. CO 005513 PLACEY RICHARD L ESQ 3631 NORTH FRONT STREET HARRISBURG, PA 17110-1533 ACN ASSESSMENT AMOUNT CONTROL NUMBER n____u fold ---------- -------- 101 I $196.75 ESTATE INFORMATION: SSN: 176-07-6539 I FILE NUMBER: 2105-0109 I DECEDENT NAME: LOGAN MARY LOIS I DA TE OF PAYMENT: 07/01/2005 I POSTMARK DATE: 07/01/2005 I COUNTY: CUMBERLAND I DATE OF DEATH: 02/01/2005 I I TOTAL AMOUNT PAID: $196.75 REMARKS: CHECK#120 INITIALS: JA SEAL RECEIVED BY: GLENDA FARNER STRASBAUGH REGISTER OF WILLS REGISTER OF WILLS