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Home My WebLink About08-17-05 II 2~]~~~ AttomeysAtLaw '\\e~ ()r6er .$ E'C\~~\o'Pe.~ ~-::5<"~-0,1C..P- Nina B. Stryker (215) 665..3057 n ina.stryker@obennayer.com One Penn Center - 19th Floor 1617 John F. Kennedy Boulevard Philadelphia, PA 19103..1895 P 215..665..3000 F 215..665..3165 www.obennayer.com August 10, 2005 ') r'~ c.~:-.:> ';--;~::J ;.:::.....t-l Register of Wills/Clerk of the Orphans' Court of Cumberland County Cumberland County Courthouse 1 Courthouse Square Carlisle, P A 17013 '--J ,~ "' ::-XJ rn C, .'.~ '~i3 i \_~='J . r Tl ;~:J '] ~:.~) i ,- (1 ('J , (~~~ l-Tl ---J ,~ ,',n Re: Orphan's Court filing - Trustee's Account Dear Sirs: We represent Wachovia Bank, N.A., Trustee of the Trust o(Westminster Cemetery, In~, ~/b/a Westminster Cemetery. Enclosed for filing are the Trustee's First and Interim Account, in duplicate, and the Petition for Adjudication, also in duplicate. A copy of the trust agreement, certified to be true and correct is attached to the Petition, as well as the Statement of Proposed Distribution and a copy of the Audit Notice mailed August 10,2005. Also enclosed is a check in the amount of $145.00 for the filing fee. Kindly timestamp and return the enclosed copy of this cover letter as evidence of your receipt of this filing. It is my understanding that this matter will appear on the Court's audit list for October 11,2005. Please call the undersigned if you have any questions, or require any additional documentation. Thank you very much for your anticipated cooperation. vr:~ Nina Booz Stryker NBS Enclosures cc. Mark A. Pacella, Esquire Linda Punteriero Frank Milles Kelley Adrain Over a Century of Solutions 644255 Philadelphia Pennsylvania Harrisburg Pennsylvania Pittsburgh Pennsylvania Cherry Hill New Jersey Vine1and New Jersey Wilmington Delaware ;2l- 05 'O/3d... . 2~]&~1]~ Attorneys At Law Nina B. Stryker (2] 5) 665-3057 nina.stryker@obermayer.com One Penn Center - ] 9th F]oor ]6] 7 John F. Kennedy Boulevard Philadelphia, PA ]9]03-]895 P 2] 5-665-3000 F 2] 5-665-3] 65 www.obermayer.com August 15,2005 Register of Wills/Clerk of the Orphans' Court of Cumberland County Cumberiand County Courthouse 1 Courthouse Square Carlisle, P A 17013 Attention: Jackie ~ '";';~ Re: Orphan's Court filing - Trustee's Account Westminster Cemeteries (Wachovia Bank) Additional Fee (First Filing-New Account) y -J 'J " Dear Jackie: 01 Pursuant to your telephone conversation with my assistant, Trish Sheridan, enclosed please find our firm's check in the amount of$15.00, which represents the additional filing fee, regarding the above matter, for new accounts (first filings). Thank you for your courtesy and cooperation in this matter. Very truly yours, I- Nina Booz Stryker NBS/pas Enclosure Over a Century of Solutions 644255 Philadelphia Pennsylvania Harrisburg Pennsylvania Pittsburgh Pennsylvania Cherry Hill New Jersey vineland New Jersey Wilmington Delaware ~ ~ ( --0 5 -- 0-73:J.. ' IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PA. ORPHANS' COURT DIVISION FIRST AND INTERIM ACCOUNT OF WACHOVIA BANK, N.A., formerly FIRST UNION NATIONAL BANK, formerly CORESTATES BANK, N.A., TRUSTEE FOR THE TRUST UNDER AGREEMENT OF WESTMINISTER CEMETERY, INC., DATED JULY 17, 1998 -, FOR WESTMINISTER CEMETERY PERMANENT LOT CARE FUND Tax ID Number: Date of First Receipt of Funds: Accounting for the period: 23-1213510 06/30/98 06/30/98 to 12/31/04 Purpose of Account: The Trustee offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information, questions or objections can be discussed with: COUNSEL: Nina B. Stryker Obermayer Rebmann 1617 JFK Blvd. Philadelphia, PA 215-665-3057 19103 I.D. #36531 Maxwell & Rippel LLP 1519294450 - 1 - \J-. .--.1 --"J . ',j '..'1 C) --7"\ .' .. PRINCIPAL RECEIPTS Received from Westminister Cemetery, Inc. , the following: Cash (6/30/97 thru 4/30/98) $ 3,960.85 $ 3,960.85 SUBSEQUENT RECEIPTS Received from Westminster Cemetery, Inc. for Perpetual Care 07/21/98 Cash $ 128.01 07/21/98 Cash 432.19 09/01/98 Cash 356.79 09/24/98 Cash 113.92 10/21/98 Cash 162.54 11/20/98 Cash 563.74 12/17/98 Cash 240.05 01/26/99 Cash 315.92 03/01/99 Cash 602.25 03/26/99 Cash 337.35 05/04/99 Cash 474.75 05/18/99 Cash 1,138.43 OS/25/99 Cash 116 . 96 06/02/99 Cash 88.72 FORWARD $ 5,071.62$ 3,960.85 1519294450 - 3 - . .. PRINCIPAL RECEIPTS (cont'd) FORWARD $ 5,071.62$ 3,960.85 SUBSEQUENT RECEIPTS (cant'd) Received from Westminster Cemetery, Inc. for Perpetual Care (cant'd) 06/07/99 Cash 73.81 06/18/99 Cash 142.85 06/21/99 Cash 121.31 06/29/99 Cash 44.01 07/07/99 Cash 341.80 07/12/99 Cash 54.42 07/19/99 Cash 35.27 07/19/99 Cash 22.84 07/23/99 Cash 260.11 07/30/99 Cash 73.36 08/02/99 Cash 182.16 08/06/99 Cash 75.10 08/13/99 Cash 40.21 08/20/99 Cash 81.91 08/27/99 Cash 149.40 09/07/99 Cash 450.40 09/10/99 Cash 5.24 FORWARD $ 7,225.82$ 3,960.85 1519294450 - 4 - PRINCIPAL RECEIPTS (cont'd) FORWARD $ 7,225.82$ 3,960.85 SUBSEQUENT RECEIPTS (cont'd) Received from Westminster Cemetery, Inc. for Perpetual Care (cont'd) 09/10/99 Cash 64.14 09/20/99 Cash 125.03 09/27/99 Cash 319.71 10/04/99 Cash 76.66 10/18/99 Cash 26.14 10/18/99 Cash 98.93 10/26/99 Cash 121.18 10/29/99 Cash 385.90 11/05/99 Cash 85.45 11/15/99 Cash 88.40 11/19/99 Cash 119.04 11/26/99 Cash 236.09 12/06/99 Cash 177.23 12/10/99 Cash 333.40 12/10/99 Cash 49.21 12/20/99 Cash 144.30 12/27/99 Cash 80.13 FORWARD $ 9,756.76$ 3,960.85 1519294450 - 5 - PRINCIPAL RECEIPTS (cent'd) FORWARD $ 9,756.76$ 3,960.85 SUBSEQUENT RECEIPTS (cant'd) Received from Westminster Cemetery, Inc. for Perpetual Care (cant'd) 12/30/99 Cash 317.39 01/10/00 Cash 13.28 01/19/00 Cash 41.14 01/24/00 Cash 120.75 01/31/00 Cash 55.66 02/07/00 Cash 102.43 02/11/00 Cash 109.23 02/22/00 Cash 38.49 02/28/00 Cash 95.40 03/06/00 Cash 64.89 03/13/00 Cash 242.43 03/13/00 Cash 35.59 03/20/00 Cash 52.26 03/27/00 Cash 128.91 03/31/00 Cash 596.44 04/07/00 Cash 95.42 04/14/00 Cash 157.45 FORWARD $ 12,023.92$ 3,960.85 1519294450 - 6 - PRINCIPAL RECEIPTS (cent'd) FORWARD $ 12,023.92$ 3,960.85 SUBSEQUENT RECEIPTS (cant'd) Received from Westminster Cemetery, Inc. for Perpetual Care (cant'd) 04/24/00 Cash 242.05 04/28/00 Cash 121.47 05/05/00 Cash 77.16 05/12/00 Cash 164.18 06/30/00 Cash 582.22 06/30/00 Cash 64.88 07/24/00 Cash 294.33 09/19/00 Cash 270.40 10/18/00 Cash 482.06 11/14/00 Cash 493.58 12/19/00 Cash 287.29 01/16/01 Cash 784.07 02/12/01 Cash 348.66 03/19/01 Cash 304.18 04/09/01 Cash 248.72 05/08/01 Cash 139.87 06/22/01 Cash 562.55 FORWARD $ 17,491.59$ 3,960.85 1519294450 - 7 - PRINCIPAL RECEIPTS (cont'd) FORWARD $ 17,491.59$ 3,960.85 SUBSEQUENT RECEIPTS (cant'd) Received from Westminster Cemetery, Inc. for Perpetual Care (cant'd) 07/09/01 Cash 708.09 08/07/01 Cash 507.34 09/10/01 Cash 261.05 11/19/01 Cash 233.06 12/04/01 Cash 275.57 12/17/01 Cash 178.11 01/22/02 Cash 177.98 02/06/02 Cash 153.69 03/05/02 Cash 133.17 04/04/02 Cash 105.52 05/07/02 Cash 464.30 06/10/02 Cash 371.11 07/16/02 Cash 948.34 08/06/02 Cash 458.37 09/10/02 Cash 378.59 10/16/02 Cash 231.91 11/12/02 Cash 339.52 FORWARD $ 23,417.31$ 3,960.85 1519294450 - 8 - . PRINCIPAL RECEIPTS (cont'd) FORWARD $ 23,417.31$ 3,960.85 SUBSEQUENT RECEIPTS (cont'd) Received from Westminster Cemetery, Inc. for Perpetual Care (cont'd) 12/20/02 Cash 1,063.37 01/13/03 Cash 325.65 02/03/03 Cash 168.07 03/17/03 Cash 446.57 04/15/03 Cash 210.26 05/06/03 Cash 392.44 06/09/03 Cash 310.94 07/14/03 Cash 415.47 08/04/03 Cash 675.79 09/02/03 Cash 341.98 10/09/03 Cash 277.25 11/03/03 Cash 247.46 12/02/03 Cash 363.77 01/13/04 Cash 122.76 02/09/04 Cash 351.64 03/08/04 Cash 688.00 04/13/04 Cash 175.22 FORWARD $ 29,993.95$ 3,960.85 1519294450 - 9 - PRINCIPAL RECEIPTS (cont'd) FORWARD $ 29,993.95$ 3,960.85 SUBSEQUENT RECEIPTS (cont'd) Received from Westminster Cemetery, Inc. for Perpetual Care (cont'd) 05/11/04 Cash 06/07/04 Cash 07/12/04 Cash 08/09/04 Cash 09/08/04 Cash 10/13/04 Cash 11/03/04 Cash 11/30/04 Cash 325.21 196.87 543.76 431.05 240.74 438.84 193.88 532.63 32,896.93 Dividend reinvestment on Deutsche Fixed Income Fund (transfer from income) 03/31/99 $ 16.52 04/30/99 16.13 04/30/99 5.52 38.17 Dividend reinvestment on Deutsche Short Term Fixed Income Fund (transfer from income) 03/31/99 $ 5.58 04/30/99 5.52 11.10 12/18/98 Short Term Capital Gains Distribution on Hirtle Callaghan Value Fund 23.06 FORWARD $ 36,930.11 1519294450 - 10 - PRINCIPAL RECEIPTS (cont'd) FORWARD SUBSEQUENT RECEIPTS (cont'd) 12/18/98 Long Term capital Gains Distribution on Hirtle Callaghan Value Fund 12/18/98 Short Term Capital Gains Distribution on Hirtle Callaghan International Equity Fund 12/18/98 Long Term Capital Gains Distribution on Hirtle Callaghan International Equity Fund 12/22/98 Short Term Capital Gains Distribution on Hirtle Callaghan Growth Equity Fund 12/22/98 Long Term Capital Gains Distribution on Hirtle Callaghan Growth Equity Fund 02/05/99 Long Term Capital Gains Distribution on Morgan Grenfell Short-Term Fixed Income Fund 02/05/99 Short Term Capital Gains Distribution on Morgan Grenfell Short-Term Fixed Income Fund 02/11/99 Long Term Capital Gains Distribution on Morgan Grenfell Investment Fund Fixed Income Fund 02/11/99 Short Term Capital Gains Distribution on Morgan Grenfell Investment Fund Fixed Income Fund 12/22/00 Long Term Capital Gains Distribution on Kensington Strategic Realty Fund, Class A FORWARD $ 1519294450 - 11 - $ 36,930.11 45.07 .04 4.82 1.21 14.18 1.72 .08 16.86 34.58 .19 37,048.86 PRINCIPAL RECEIPTS (cont'd) FORWARD SUBSEQUENT RECEIPTS (cont'd) 12/22/00 Short Term Capital Gains Distribution on Kensington Strategic Realty Fund, Class A 11/20/01 Short Term Capital Gains Distribution on Kensington Strategic Realty Fund, Class A 11/20/01 Long Term Capital Gains Distribution on Kensington Strategic Realty Fund, Class A 12/13/01 Short Term Capital Gains Distribution on Scudder Short Duration Fund 12/13/02 Short Term Capital Gains Distribution on Scudder Fixed Income Fund 12/13/02 Long Term Capital Gains Distribution on Scudder Fixed Income Fund 12/17/02 Short Term Capital Gains Distribution on Kensington Strategic Realty Fund, Class A 12/17/02 Long Term Capital Gains Distribution on Kensington Strategic Realty Fund, Class A 12/15/03 Short Term Capital Gains Distribution on Kensington Select Income Fund, Class A 12/15/03 Long Term Capital Gains Distribution on Kensington Select Income Fund, Class A FORWARD 1519294450 - 12 - $ 37,048.86 78.75 79.12 91.06 9.13 19.57 82.07 17.31 56.29 42.84 23.36 $ 37,548.36 PRINCIPAL RECEIPTS (cant'd) FORWARD SUBSEQUENT RECEIPTS (cont'd) 01/05/04 Long Term capital Gains Distribution on Hillview Investment Trust II Hillview/Rems Leveraged Reit Fund 01/05/04 Short Term Capital Gains Distribution on Hillview Investment Trust II Hillview/Rems Leveraged Reit Fund 01/07/04 Long Term Capital Gains Distribution on Vanguard Intermediate-Term Investment Grade Fund Admiral Class 04/05/04 Long Term Capital Gains Distribution on Vanguard Intermediate-Term Investment Grade Fund Admiral Class 09/16/04 Long Term Capital Gains Distribution on Kensington Select Income Fund, Class A TOTAL PRINCIPAL RECEIPTS 151929445() - 13 - $ 37,548.36 25.84 52.61 53.60 18.55 5.48 $ 37,704.44 05/14/99 PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS 45.194 Units Hirtle Callaghan Net Proceeds Acquisition Value Value Fund 677.91 659.26 $ Callaghan Growth 05/14/99 14.682 Units Hirtle Equity Fund Net Proceeds Acquisition Value 05/14/99 05/18/00 12/20/01 17.948 Units Hirtle Callaghan International Equity Fund Net Proceeds Acquisition Value 296.491 Units Deutsche Net Proceeds Acquisition Value 520.9066 Units Scudder Net Proceeds Acquisition Value 258.55 219.75 233.86 219.75 Fixed Income Fund 2,926.37 3,059.52 Fixed Income Fund 5,631.00 5,406.87 05/31/02 493.4454 Units Scudder Short Duration Fund Net Proceeds 4,973.93 Acquisition Value 4,936.90 06/03/02 06/03/02 1519294450 276.4977 Units Scudder Net Proceeds Acquisition Value 2.901 Units Kensington Fund, Class A Net Proceeds Acquisition Value Fixed Income Fund 3,000.00 2,873.26 Strategic Realty FORWARD 125.00 99.17 - 14 - $ GAIN 18.65 38.80 14.11 224.13 37.03 126.74 25.83 485.29 $ LOSS $ 133.15 133.15 06/26/02 06/28/02 08/05/02 01/08/03 PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd) GAIN FORWARD $ 485.29 $ 517.8489 Units Pimco Institutional Class Net Proceeds Acquisition Value High Yield Fund 4,557.07 4,818.24 High Yield Fund 29.6672 Units pimco Institutional Class Net Proceeds Acquisition Value 253.66 276.03 99.089 Units Kensington Fund, Class A Net Proceeds Acquisition Value Strategic Realty 3,886.26 3,425.20 461.06 665.3901 Units Scudder Net Proceeds Acquisition Value Fixed Income Fund 7,272.72 6,953.49 319.23 01/08/03 139.3918 Units Vanguard Intermediate- Term Investment Grade Fund Admiral Class Net Proceeds 1,398.10 Acquisition Value 1,359.91 01/08/03 04/01/03 1519294450 38.19 6.496 Units Kensington Fund, Class A Net Proceeds Acquisition Value Select Income 211.18 204.43 6.75 63.597 Units Kensington Fund, Class A Net Proceeds Acquisition Value Strategic Realty 2,373.44 2,237.50 135.94 TOTALS $ 1,446.46 $ -------------- -------------- -------------- -------------- 416.69 NET GAIN TRANSFERRED TO SUMMARY - 15 - LOSS 133.15 261.17 22.37 $ 1,029.77 -------------- -------------- PRINCIPAL REAPPRAISEMENT ACCOUNT VALUE *REAPPRAISED AS OF 03/31/99 305.879 Units Deutsche Fixed Income Fund$ 3,302.26 $ 108.972 Units Deutsche Short Term Fixed Income Fund 1,100.75 TOTALS $ 4,403.01 $ DECREASE TRANSFERRED TO SUMMARY PAGE $ 4,403.01 $ --------------- --------------- --------------- --------------- *Book value re-stated to market value as of 3/31/99 due to sell of cemetery to Cornerstone Family Services, now known as Stonemor Partners LP 1519294450 - 16 - REAPPRAISED VALUE 3,227.02 1,096.26 4,323.28 79.73 4,403.01 DISBURSEMENTS OF PRINCIPAL FEDERAL STATE AND LOCAL TAXES Internal Revenue Service/United States Treasury - Fiduciary Income Tax 04/19/99 1998 extension payment 01/14/00 4th quarter 1999 04/10/03 2002 Balance 04/16/03 1st quarter 2003 PA Department of Revenue - Fiduciary Income Tax 04/19/99 1998 extension payment 04/08/02 2001 Balance 04/10/03 2002 Balance 04/12/04 2003 Balance 09/13/04 3rd quarter 2004 LEGAL FEES Obermayer Rebmann Maxwell & Hippel LLP - Counsel fee re: audit GENERAL DISBURSEMENTS 03/30/99 Transfer to income TOTAL DISBURSEMENTS OF PRINCIPAL 1519294450 - 17 - $ 53.72 0.74 110.00 55.00 $ $ 4.99 4.00 16.00 9.00 3.00 219.46 36.99 $ 256.45 1,000.00 429.17 $ 1,685.62 PRINCIPAL BALANCE ON HAND VALUE AT 12/31/2004 FIDUCIARY ACQUISITION VALUE Mutual Funds 217.471 Uts. Hillview Investment Trust II Hillview/Rems Leveraged Reit Fund $ $ 3,251.19 $ 2,644.17 5,425.71 4,737.19 11,771. 99 11,188.70 11,811.87 10,532.52 8,111.80 7,946.99 40,372.56 $ 37,049.57 -80.71 -80.71 40,291.85 $ 36,968.86 146.364 Uts. Kensington Select Income Fund, Class A 1,495.8051 Uts. Northeast Investors Trust Share Beneficial Interest 1,184.7417 Uts. pimco High Yield Fund Institutional Class 805.541 Uts. Vanguard Intermediate-Term Investment Grade Fund Admiral Class OVERDRAFT OF CASH TOTAL PRINCIPAL BALANCE ON HAND $ ---------------- ---------------- ---------------- ---------------- 1519294450 - 18 - PRINCIPAL INVESTMENTS MADE 09/30/98 0.32 Units Hirtle Callaghan Growth Equity Fund $ 4.33 09/30/98 0.386 Units Hirtle Callaghan International Equity Fund 4.33 09/30/98 0.959 Units Hirtle Callaghan Value Fund 12.99 09/30/98 5.876 Units Morgan Grenfell Investment Trust Fixed Income Fund 64.93 09/30/98 2.119 Units Morgan Grenfell Short-Term Fixed Income Fund 21.64 11/20/98 12.977 Units Hirtle Callaghan Growth Equity Fund 194.00 11/20/98 15.85 Units Hirtle Callaghan International Equity Fund 194.00 11/20/98 39.945 Units Hirtle Callaghan Value Fund 582.00 11/20/98 270.25 Units Morgan Grenfell Investment Trust Fixed Income Fund 2,916.00 11/20/98 96.238 Units Morgan Grenfell Short-Term Fixed Income Fund 972.00 11/24/98 1.385 Units Hirtle Callaghan Growth Equity Fund 21.42 11/24/98 1.712 Units Hirtle Callaghan International Equity Fund 21.42 11/24/98 4.29 Units Hirtle Callaghan Value Fund 64.27 11/24/98 29.753 Units Morgan Grenfell Investment Trust Fixed Income Fund 321.33 11/24/98 10.615 Units Morgan Grenfell Short-Term Fixed Income Fund 107.11 FORWARD $ 5, SOl. 77 1519294450 - 19 - ., PRINCIPAL INVESTMENTS MADE (cont'd) FORWARD $ 5,501.77 03/31/99 0.555 Units Deutsche Short Term Fixed Income Fund 5.58 03/31/99 1.566 Units Deutsche Fixed Income Fund 16.52 04/30/99 0.549 Units Deutsche Short Term Fixed Income Fund 5.52 04/30/99 0.455 Units Deutsche Fixed Income Fund 5.52 04/30/99 1.533 Units Deutsche Fixed Income Fund 16.13 05/17/99 239.693 Units Deutsche Fixed Income Fund 2,500.00 07/07/99 34.0481 Units Deutsche Short Term Fixed Income Fund 339.46 07/07/99 166.7214 Units Deutsche Fixed Income Fund 1,717.23 07/19/99 31.0116 Units Deutsche Fixed Income Fund 321.90 08/18/99 56.9843 Units Deutsche Fixed Income Fund 582.38 09/20/99 28.342 Units Deutsche Short Term Fixed Income Fund 282.57 09/20/99 60.0459 Units Deutsche Fixed Income Fund 614.27 10/18/99 43.6927 Units Deutsche Fixed Income Fund 442.17 11/18/99 63.4132 Units Deutsche Fixed Income Fund 646.18 12/20/99 34.8982 Units Deutsche Short Term Fixed Income Fund 346.19 12/20/99 75.8741 Units Deutsche Fixed Income Fund 765.57 01/18/00 47.7364 Units Deutsche Fixed Income Fund 474.50 FORWARD $ 14,583.46 1519294450 - 20 - PRINCIPAL INVESTMENTS MADE (cont'd) FORWARD $ 14,583.46 02/18/00 34.592 Units Deutsche Fixed Income Fund 345.57 03/20/00 37.181 Units Deutsche Fixed Income Fund 375.90 04/20/00 40.428 Units Deutsche Short Term Fixed Income Fund 401.45 04/20/00 83.127 Units Deutsche Fixed Income Fund 842.91 05/18/00 70.472 Units Deutsche Short Term Fixed Income Fund 695.56 05/18/00 95.265 Units Kensington Strategic Realty Fund, Class A 3,143.75 07/18/00 44.004 Units Deutsche Fixed Income Fund 442.68 08/18/00 28.9558 units Deutsche Short Term Fixed Income Fund 288.11 11/20/00 74.694 Units Deutsche Fixed Income Fund 767.11 11/20/00 14.27 Units Kensington Strategic Realty Fund, Class A 479.34 12/22/00 0.006 Units Kensington Strategic Realty Fund, Class A 0.19 12/22/00 2.369 Units Kensington Strategic Realty Fund, Class A 78.75 01/18/01 48.7448 Units Scudder Short Duration Fund 490.86 01/18/01 67.2723 Units Scudder Fixed Income Fund 709.05 02/20/01 29.9716 Units Scudder Fixed Income Fund 316.80 04/18/01 27.5833 Units Scudder Fixed Income Fund 291.28 FORWARD $ 24,252.77 1519294450 - 21 - PRINCIPAL INVESTMENTS MADE (cent'd) FORWARD $ 24,252.77 05/l8/0l 26.8 Units Scudder Short Duration Fund 270.68 07/l8/0l 33.8587 Units Scudder Short Duration Fund 342.65 07/l8/0l 99.0794 Units Scudder Fixed Income Fund l,060.l5 08/20/0l 33.2389 Units Scudder Fixed Income Fund 360.3l 09/l8/0l 7.569 Units Kensington Strategic Realty Fund, Class A 300.28 ll/20/0l 2.379 Units Kensington Strategic Realty Fund, Class A 9l.06 ll/20/0l 2.066 Units Kensington Strategic Realty Fund, Class A 79.l2 l2/l3/0l 0.903 Units Scudder Short Duration Fund 9.l3 l2/l8/0l 25.9287 Units Scudder Short Duration Fund 26l.88 l2/l8/0l 33.9496 units Scudder Fixed Income Fund 363.94 l2/2l/0l 9.990l Units Scudder Short Duration Fund lOl.OO l2/2l/0l 508.7003 Units Pimco High Yield Fund Institutional Class 4,736.00 l2/2l/0l l3.202 Units Kensington Strategic Realty Fund, Class A 5l5.00 02/l9/02 38.8l58 Units Pimco High Yield Fund Institutional Class 358.27 03/l8/02 34.6994 Units Scudder Fixed Income Fund 370.59 05/3l/02 285.3437 Units Northeast Investors Trust Share Beneficial Interest 2,200.00 FORWARD $ 35,672.83 l5l9294450 - 22 - PRINCIPAL INVESTMENTS MADE (cont'd) FORWARD $ 35,672.83 05/31/02 667.3511 Units Vanguard Intermediate- Term Investment Grade Fund Admiral Class 6,500.00 06/26/02 652.6189 Units Northeast Investors Trust Share Beneficial Interest 4,966.43 07/26/02 60.567 Units Northeast Investors Trust Share Beneficial Interest 451.83 07/26/02 14.355 Units Kensington Strategic Realty Fund, Class A 547.63 08/07/02 123.491 Units Kensington Select Income Fund, Class A 3,886.26 08/26/02 54.365 Units Northeast Investors Trust Share Beneficial Interest 394.69 09/26/02 42.372 Units Northeast Investors Trust Share Beneficial Interest 299.57 10/28/02 28.0652 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 275.60 11/26/02 31.2432 Units Scudder Fixed Income Fund 344.30 12/13/02 7.509 Units Scudder Fixed Income Fund 82.07 12/17/02 1.504 Units Kensington Strategic Realty Fund, Class A 56.29 12/17/02 0.463 Units Kensington Strategic Realty Fund, Class A 17.31 12/26/02 26.5351 Units Scudder Fixed Income Fund 291.09 12/26/02 69.1671 Units Northeast Investors Trust Share Beneficial Interest 484.17 FORWARD $ 54,270.07 1519294450 - 23 - PRINCIPAL INVESTMENTS MADE (cont'd) FORWARD $ 54,270.07 12/26/02 31.26 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 313.85 01/09/03 13.3947 Units Northeast Investors Trust Share Beneficial Interest 95.37 01/09/03 957.9439 Units Pimco High Yield Fund Institutional Class 8,362.85 01/09/03 2.188 Units Kensington Strategic Realty Fund, Class A 82.67 02/26/03 44.5706 Units Northeast Investors Trust Share Beneficial Interest 306.20 02/26/03 9.951 Units Kensington strategic Realty Fund, Class A 370.48 04/03/03 198.744 units Hillview Investment Trust II Hillview/Rems Leveraged Reit Fund 2,373.00 OS/27/03 60.5745 Units Northeast Investors Trust Share Beneficial Interest 427.05 06/26/03 28.9809 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 304.30 07/28/03 37.5784 Units Pimco High Yield Fund Institutional Class 352.11 07/28/03 27.6768 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 281.75 08/26/03 53.7336 Units Northeast Investors Trust Share Beneficial Interest 377.21 09/26/03 29.2894 Units Pimco High Yield Fund Institutional Class 275.32 FORWARD $ 68,192.23 1519294450 - 24 - PRINCIPAL INVESTMENTS MADE (cont'd) FORWARD $ 68,192.23 09/26/03 8.06 Units Kensington Select Income Fund, Class A 283.06 10/27/03 34.5108 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 351.32 11/26/03 42.3116 Units Northeast Investors Trust Share Beneficial Interest 305.49 01/26/04 34.867 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 356.34 02/26/04 55.1415 Units pimco High Yield Fund Institutional Class 533.77 04/26/04 26.599 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 265.99 04/26/04 9.686 Units Kensington Select Income Fund, Class A 345.50 OS/26/04 37.0954 Units Northeast Investors Trust Share Beneficial Interest 272.28 OS/26/04 33.2245 Units Pimco High Yield Fund Institutional Class 309.32 07/26/04 27.351 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 271.60 08/26/04 36.404 Units Northeast Investors Trust Share Beneficial Interest 278.13 08/26/04 40.068 Units Pimco High Yield Fund Institutional Class 385.45 09/27/04 18.727 Units Hillview Investment Trust II Hillview/Rems Leveraged Reit Fund 271.17 FORWARD $ 72,421.65 1519294450 - 25 - PRINCIPAL INVESTMENTS MADE (cont'd) FORWARD $ 72,421. 65 10/26/04 43.287 Units Northeast Investors Trust Share Beneficial Interest 330.28 11/26/04 38.271 Units Vanguard Intermediate-Term Investment Grade Fund Admiral Class 386.15 12/27/04 31.496 Units Pimco High Yield Fund Institutional Class 313.70 12/27/04 11.623 Units Kensington Select Income Fund, Class A 426.80 TOTAL PRINCIPAL INVESTMENTS MADE $ 73,878.58 1519294450 - 26 - 03/01/99 03/31/99 03/31/99 04/30/99 04/30/99 05/17/99 07/07/99 07/19/99 08/18/99 09/20/99 10/18/99 11/18/99 12/20/99 1519294450 CHANGES IN PRINCIPAL HOLDINGS Deutsche Fixed Income Fund 305.879 uts. Received in exchange for Morgan Grenfell Investment Trust Fixed Income Fund Decrease in Reappraisement 305.879 Uts. 1.566 307.445 Uts. Dividend reinvestment Uts. 1.533 308.978 Uts. Dividend reinvestment Uts. 0.455 309.433 Uts. Dividend reinvestment Uts. 239.693 549.126 Uts. Purchased Uts. 166.7214 Uts. Purchased 715.8474 Uts. 31.0116 Uts. Purchased 746.859 Uts. 56.9843 Uts. Purchased 803.8433 Uts. 60.0459 Uts. Purchased 863.8892 Uts. 43.6927 Uts. Purchased 907.5819 Uts. 63.4132 Uts. Purchased 970.9951 Uts. 75.8741 Uts. Purchased 1,046.8692 Uts. - 27 - Account Value $ 3,302.26 $ -75.24 3,227.02 $ 16.52 3,243.54 $ 16.13 3,259.67 $ 5.52 3,265.19 $ 2,500.00 5,765.19 $ 1,717.23 7,482.42 $ 321.90 7,804.32 $ 582.38 8,386.70 $ 614.27 9,000.97 $ 442.17 9,443.14 $ 646.18 10,089.32 $ 765.57 10,854.89 01/18/00 02/18/00 03/20/00 04/20/00 05/18/00 07/18/00 11/20/00 12/31/00 1519294450 CHANGES IN PRINCIPAL HOLDINGS (cont'd) Deutsche Fixed Income Fund (cont'd) 47.7364 Uts. Purchased 1,094.6056 Uts. 34.592 Uts. Purchased 1,129.1976 Uts. 37.181 Uts. Purchased 1,166.3786 Uts. 83.127 Uts. Purchased 1,249.5056 Uts. 296.491 Uts. Sold 953.0146 Uts. 44.004 Uts. Purchased 997.0186 Uts. 74.694 Uts. Purchased 1,071.7126 Uts. 1,071.7126 Uts. Delivered in exchange for Scudder Fixed Income Fund OUts. ----------------- ----------------- - 28 - Account Value $ $ 474.50 11,329.39 $ 345.57 11,674.96 $ 375.90 12,050.86 $ 842.91 12,893.77 $ -3,059.52 9,834.25 $ 442.68 10,276.93 $ 767.11 11,044.04 $ -11,044.04 0.00 --------------- --------------- CHANGES IN PRINCIPAL HOLDINGS (cont'd) Account Value Deutsche Short Term Fixed Income Fund 03/01/99 108.972 Uts. Received in exchange for Morgan Grenfell Short-Term Fixed Income Fund $ 1,100.75 03/31/99 Decrease in Reappraisement -4.49 108.972 Uts. $ 1,096.26 03/31/99 0.555 Uts. Dividend reinvestment 5.58 109.527 Uts. $ 1,101.84 04/30/99 0.549 Uts. Dividend reinvestment 5.52 110.076 Uts. $ 1,107.36 07/07/99 34.0481 Uts. Purchased 339.46 144.1241 Uts. $ 1,446.82 09/20/99 28.342 Uts. Purchased 282.57 172.4661 Uts. $ 1,729.39 12/20/99 34.8982 Uts. Purchased 346.19 207.3643 Uts. $ 2,075.58 04/20/00 40.428 Uts. Purchased 401.45 247.7923 Uts. $ 2,477.03 05/18/00 70.472 Uts. Purchased 695.56 318.2643 Uts. $ 3,172.59 08/18/00 28.9558 Uts. Purchased 288.11 347.2201 Uts. $ 3,460.70 12/31/00 347.2201 Uts. Delivered in exchange for Scudder Short Duration Fund -3,460.70 0 Uts. $ 0.00 ----------------- --------------- ----------------- --------------- 1519294450 - 29 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) Hillview Investment Trust II Hillview/Rems Leveraqed Reit Fund 04/03/03 198.744 uts. Purchased 09/27/04 18.727 uts. Purchased 217.471 Uts. Hirtle Callaqhan Growth Equity Fund 09/30/98 0.32 uts. Purchased 11/20/98 12.977 uts. Purchased 13.297 Uts. 11/24/98 1.385 Uts. Purchased 14.682 Uts. 05/14/99 14.682 Uts. Sold 0 Uts. ----------------- ----------------- Hirtle Callaqhan International Equity Fund 09/30/98 0.386 Uts. Purchased 11/20/98 15.85 Uts. Purchased 16.236 Uts. 11/24/98 1.712 Uts. Purchased 17.948 Uts. 05/14/99 17.948 Uts. Sold 0 Uts. ----------------- ----------------- 1519294450 - 30 - Account Value $ 2,373.00 $ 271.17 2,644.17 $ 4.33 194.00 $ 198.33 21.42 $ 219.75 -219.75 $ 0.00 $ 4.33 194.00 $ 198.33 21.42 $ 219.75 -219.75 $ 0.00 CHANGES IN PRINCIPAL HOLDINGS (cont'd) Hirtle Callaqhan Value Fund 09/30/98 0.959 uts. Purchased 11/20/98 39.945 uts. Purchased 40.904 Uts. 11/24/98 4.29 Uts. Purchased 45.194 Uts. 05/14/99 45.194 uts. Sold 0 Uts. ----------------- ----------------- Kensinqton Select Income Fund, Class A 08/07/02 123.491 Uts. Purchased 01/08/03 6.496 Uts. Sold 116.995 Uts. 09/26/03 8.06 Uts. Purchased 125.055 Uts. 04/26/04 9.686 Uts. Purchased 134.741 Uts. 12/27/04 11.623 Uts. Purchased 146.364 Uts. ----------------- ----------------- 1519294450 - 31 - Account Value $ 12.99 582.00 $ 594.99 64.27 $ 659.26 -659.26 $ 0.00 $ 3,886.26 -204.43 $ 3,681.83 283.06 $ 3,964.89 345.50 $ 4,310.39 426.80 $ 4,737.19 t ~ 1519294450 - 32 - , CHANGES IN PRINCIPAL HOLDINGS (cont'd) Account Value Kensinqton Strateqic Realty Fund, Class A (cont'd) 01/09/03 2.188 uts. Purchased 53.646 Uts. 02/26/03 9.951 uts. Purchased 63.597 Uts. 04/01/03 63.597 uts. Sold 0 uts. $ 82.67 $ 1,867.02 370.48 $ 2,237.50 -2,237.50 $ 0.00 Morqan Grenfell Investment Trust Fixed Income Fund 09/30/98 5.876 Uts. Purchased $ 64.93 11/20/98 270.25 Uts. Purchased 276.126 Uts. $ 2,916.00 2,980.93 11/24/98 29.753 Uts. Purchased 305.879 Uts. $ 03/01/99 305.879 Uts. Delivered in exchange for Deutsche Fixed Income Fund 321.33 3,302.26 o Uts. $ -3.302.26 0.00 1519294450 - 33 - CHANGES IN PRINCIPAL HOLDINGS (cent'd) Account Value Morqan Grenfell Short-Term Fixed Income Fund 09/30/98 2.119 Uts. Purchased $ 21.64 11/20/98 96.238 Uts. Purchased 972.00 98.357 Uts. $ 993.64 11/24/98 10.615 Uts. Purchased 107.11 108.972 Uts. $ 1,100.75 03/01/99 108.972 Uts. Delivered in exchage for Deutsche Short Term Fixed Income Fund -1,100.75 0 Uts. $ 0.00 ----------------- --------------- ----------------- --------------- Northeast Investors Trust Share Beneficial Interest 05/31/02 285.3437 Uts. Purchased $ 2,200.00 06/26/02 652.6189 Uts. Purchased 4,966.43 937.9626 Uts. $ 7,166.43 07/26/02 60.567 Uts. Purchased 451.83 998.5296 Uts. $ 7,618.26 08/26/02 54.365 Uts. Purchased 394.69 1,052.8946 Uts. $ 8,012.95 09/26/02 42.372 Uts. Purchased 299.57 1,095.2666 Uts. $ 8,312.52 12/26/02 69.1671 Uts. Purchased 484.17 1,164.4337 Uts. $ 8,796.69 01/09/03 13.3947 Uts. Purchased 95.37 1,177.8284 Uts. $ 8,892.06 1519294450 - 34 - 02/26/03 OS/27/03 08/26/03 11/26/03 OS/26/04 08/26/04 10/26/04 12/21/01 02/19/02 06/26/02 06/28/02 1519294450 CHANGES IN PRINCIPAL HOLDINGS (cont'd) Northeast Investors Trust Share Beneficial Interest (cont'd) 44.5706 uts. Purchased 1,222.399 Uts. 60.5745 Uts. Purchased 1,282.9735 Uts. 53.7336 Uts. Purchased 1,336.7071 Uts. 42.3116 Uts. Purchased 1,379.0187 Uts. 37.0954 Uts. Purchased 1,416.1141 Uts. 36.404 Uts. Purchased 1,452.5181 Uts. 43.287 Uts. Purchased 1,495.8051 Uts. ----------------- ----------------- pimco Hiqh Yield Fund Institutional Class 508.7003 Uts. Purchased 38.8158 Uts. Purchased 547.5161 Uts. 517.8489 Uts. Sold 29.6672 Uts. 29.6672 Uts. Sold oUts. - 35 - Account Value $ 306.20 $ 9,198.26 427.05 $ 9,625.31 377.21 $ 10,002.52 305.49 $ 10,308.01 272.28 $ 10,580.29 278.13 $ 10,858.42 330.28 $ 11,188.70 ----------~---- --------------- $ 4,736.00 358.27 $ 5,094.27 -4,818.24 $ 276.03 -276.03 $ 0.00 CHANGES IN PRINCIPAL HOLDINGS (cont'd) Account Value pimco Hiqh Yield Fund Institutional Class (cont'd) 01/09/03 957.9439 uts. Purchased $ 8,362.85 957.9439 uts. $ 8,362.85 07/28/03 37.5784 Uts. Purchased 352.11 995.5223 uts. $ 8,714.96 09/26/03 29.2894 Uts. Purchased 275.32 1,024.8117 Uts. $ 8,990.28 02/26/04 55.1415 uts. Purchased 533.77 1,079.9532 uts. $ 9,524.05 OS/26/04 33.2245 uts. Purchased 309.32 1,113.1777 Uts. $ 9,833.37 08/26/04 40.068 uts. Purchased 385.45 1,153.2457 uts. $ 10,218.82 12/27/04 31.496 Uts. Purchased 313.70 1,184.7417 Uts. $ 10,532.52 ----------------- --------------- ----------------- --------------- Scudder Fixed Income Fund 12/31/00 1,071.7126 uts. Received in exchange for Deutsche Fixed Income Fund $ 11,044.04 01/18/01 67.2723 Uts. Purchased 709.05 1,138.9849 uts. $ 11,753.09 02/20/01 29.9716 Uts. Purchased 316.80 1,168.9565 Uts. $ 12,069.89 04/18/01 27.5833 Uts. Purchased 291.28 1,196.5398 Uts. $ 12,361.17 1519294450 - 36 - 1519294450 - 37 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) Account Value scudder Short Duration Fund 12/31/00 347.2201 uts. Received in exchange for Deutsche Short Term Fixed Income Fund $ 3,460.70 01/18/01 48.7448 Uts. Purchased 490.86 395.9649 Uts. $ 3,951.56 05/18/01 26.8 Uts. Purchased 270.68 422.7649 Uts. $ 4,222.24 07/18/01 33.8587 Uts. Purchased 342.65 456.6236 Uts. $ 4,564.89 12/13/01 0.903 Uts. Purchased 9.13 457.5266 Uts. $ 4,574.02 12/18/01 25.9287 Uts. Purchased 261.88 483.4553 Uts. $ 4,835.90 12/21/01 9.9901 Uts. Purchased 101.00 493.4454 Uts. $ 4,936.90 05/31/02 493.4454 Uts. Sold -4,936.90 0 Uts. $ 0.00 ----------------- --------------- ----------------- --------------- Vanquard Intermediate-Term Investment Grade Fund Admiral Class 05/31/02 667.3511 Uts. Purchased $ 6,500.00 10/28/02 28.0652 Uts. Purchased 275.60 695.4163 Uts. $ 6,775.60 12/26/02 31.26 Uts. Purchased 313.85 726.6763 Uts. $ 7,089.45 01/08/03 139.3918 Uts. Sold -1,359.91 587.2845 Uts. $ 5,729.54 1519294450 - 38 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) Account Value Vanquard Intermediate-Term Investment Grade Fund Admiral Class (cant'd) 06/26/03 28.9809 uts. Purchased $ 304.30 616.2654 uts. $ 6,033.84 07/28/03 27.6768 Uts. Purchased 281.75 643.9422 uts. $ 6,315.59 10/27/03 34.5108 uts. Purchased 351.32 678.453 uts. $ 6,666.91 01/26/04 34.867 Uts. Purchased 356.34 713.32 Uts. $ 7,023.25 04/26/04 26.599 Uts. Purchased 265.99 739.919 Uts. $ 7,289.24 07/26/04 27.351 Uts. Purchased 271.60 767.27 Uts. $ 7,560.84 11/26/04 38.271 Uts. Purchased 386.15 805.541 Uts. $ 7,946.99 ----------------- --------------- ----------------- --------------- 1519294450 - 39 - RECEIPTS OF INCOME Mutual Funds Deutsche Fixed Income Fund 03/31/99 Income 305.879 Units $ 16.52 04/30/99 Income 307.445 Units 5.52 04/30/99 Income 307.445 Units 16.13 05/31/99 Income 549.126 Units 22.92 06/30/99 Income 549.126 Units 28.72 07/31/99 Income 746.859 Units 37.49 08/31/99 Income 803.8433 Units 41.25 09/30/99 Income 863.8892 Units 43.27 10/31/99 Income 907.5819 Units 46.06 11/30/99 Income 970.9951 Units 46.52 12/31/99 Income 1,046.8692 Units 53.67 01/31/00 Income 1,094.6056 Units 57.59 02/29/00 Income 1,129.1976 Units 59.68 03/31/00 Income 1,166.3786 Units 64.90 04/30/00 Income 1,249.5056 Units 65.63 05/31/00 Income 953.0146 Units 64.13 06/30/00 Income 953.0146 Units 53.33 07/31/00 Income 997.0186 Units 55.10 FORWARD $ 778.43 1519294450 - 40 - 1519294450 - 41 - 1519294450 - 42 - RECEIPTS OF INCOME (cont'd) FORWARD $ 1,389.47 Mutual Funds (cont'd) Hirtle Callaqhan Growth Equity Fund 04/20/99 Income 14.682 Units .23 Hirtle Callaqhan International Equity Fund 01/14/99 Income 17.948 Units 1. 50 Hirtle Callaqhan Value Fund 04/20/99 Income 45.194 Units 4.37 Kensinqton Select Income Fund, Class A 10/18/02 Income 123.491 Units $ 75.33 12/17 /02 Income 123.491 Units 87.68 03/17/03 Income 116.995 Units 71.37 06/16/03 Income 116.995 Units 73.71 09/15/03 Income 116.995 Units 72.54 12/15/03 Income 125.055 Units 87.54 03/16/04 Income 125.055 Units 77.53 06/16/04 Income 134.741 Units 83.53 09/16/04 Income 134.741 Units 84.89 714.12 FORWARD $ 2,109.69 1519294450 - 43 - 1519294450 - 44 - RECEIPTS OF INCOME (cont'd) FORWARD $ 6.57 $ 2,857.01 Mutual Funds (cont'd) Morqan Grenfell Investment Trust Fixed Income Fund (cont'd) 12/31/98 Income 305.879 Units 16.68 01/31/99 Income 305.879 units 16.50 03/30/99 Income 305.879 Units i5.51 55.26 Morqan Grenfell Short-Term Fixed Income Fund 11/06/98 Income 2.12 Units $ 0.11 11/30/98 Income 108.972 Units 1. 98 12/31/98 Income 108.972 Units 5.51 01/31/99 Income 108.972 Units 5.43 03/30/99 Income 108.972 Units 5.04 18.07 Northeast Investors Trust Share Beneficial Interest 08/22/02 Income 998.5296 Units $ 129.81 11/27/02 Income 1,095.2666 Units 175.24 02/25/03 Income 1,177.8284 Units 176.67 05/16/03 Income 1,222.399 Units 146.69 08/22/03 Income 1,282.9735 Units 166.79 FORWARD $ 795.20 $ 2,930.34 1519294450 - 45 - RECEIPTS OF INCOME (cont'd) FORWARD $ 795.20 $ 2,930.34 Mutual Funds (cont'd) Northeast Investors Trust Share Beneficial Interest (cont'd) 11/21/03 Income 1,336.7071 Units 240.61 01/02/04 Income 1,379.0187 Units 27.58 02/20/04 Income 1,379.0187 Units 193.06 OS/21/04 Income 1,379.0187 Units 206.85 08/30/04 Income 1,452.5181 Units 203.35 11/24/04 Income 1,495.8051 Units 194.45 1,861.10 pimco Hiqh Yield Fund Institutional Class 01/08/02 Income 508.7003 Units $ 9.88 02/04/02 Income 508.7003 Units 30.42 03/04/02 Income 547.5161 Units 31.20 04/08/02 Income 547.5161 Units 32.99 05/07/02 Income 547.5161 Units 34.38 06/11/02 Income 547.5161 Units 36.01 07/10/02 Income 29.6672 Units 25.20 02/11/03 Income 957.9439 Units 47.28 03/06/03 Income 957.9439 Units 57.53 FORWARD $ 304.89 $ 4,791.44 1519294450 - 46 - RECEIPTS OF INCOME (cont'd) FORWARD $ 304.89 $ 4,791.44 Mutual Funds (cont'd) Pimco Hiqh Yield Fund Institutional Class (cont'd) 04/07/03 Income 957.9439 Units 52.69 05/06/03 Income 957.9439 Units 56.72 06/03/03 Income 957.9439 Units 61.35 07/09/03 Income 957.9439 Units 51.90 08/08/03 Income 995.5223 Units 55.41 09/17/03 Income 995.5223 units 57.68 10/06/03 Income 1,024.8117 Units 56.55 11/07/03 Income 1,024.8117 Units 62.29 12/03/03 Income 1,024.8117 Units 53.20 01/09/04 Income 1,024.8117 Units 62.88 02/03/04 Income 1,024.8117 Units 55.45 03/03/04 Income 1,079.9532 Units 55.47 04/05/04 Income 1,079.9532 Units 66.02 05/05/04 Income 1,079.9532 Units 64.21 06/04/04 Income 1,113.1777 Units 62.17 07/07/04 Income 1,113.1777 Units 59.89 08/06/04 Income 1,113.1777 Units 65.42 FORWARD $ 1,304.19 $ 4,791.44 1519294450 - 47 - RECEIPTS OF INCOME (cont'd) FORWARD $ 1,304.19 $ 4,791.44 Mutual Funds (cont'd) Pimco Hiqh Yield Fund Institutional Class (cont'd) 09/07/04 Income 1,153.2457 Units 63.67 10/06/04 Income 1,153.2457 Units 63.29 n/02/04 Income 1,153.2457 Units 64.61 12/09/04 Income 1,153.2457 Units 62.54 1,558.30 Scudder Fixed Income Fund 01/18/01 Income 1,071.7126 Units $ 61.23 02/12/01 Income 1,138.9849 Units 62.48 03/12/01 Income 1,168.9565 Units 60.68 04/04/01 Income 1,168.9565 Units 66.77 05/03/01 Income 1,196.5398 Units 64.66 06/07/01 Income 1,196.5398 Units 67.40 07/09/01 Income 1,196.5398 Units 65.29 08/03/01 Income 1,295.6192 Units 69.27 09/06/01 Income 1,328.8581 Units 72.91 10/04/01 Income 1,328.8581 Units 72.14 11/05/01 Income 1,328.8581 Units 72.40 12/05/01 Income 1,328.8581 Units 70.79 FORWARD $ 806.02 $ 6,349.74 1519294450 - 48 - 1519294450 - 49 - 1519294450 - 50 - RECEIPTS OF INCOME (cent'd) FORWARD $ 8,026.11 Mutual Funds (cont/d) Vanquard Intermediate-Term Investment Grade Fund Admiral Class 06/05/02 Income 667.3511 Units $ 1.18 07/16/02 Income 667.3511 Units 35.15 08/05/02 Income 667.3511 Units 31.72 09/06/02 Income 667.3511 Units 31.72 10/11/02 Income 667.3511 Units 30.67 11/12/02 Income 695.4163 Units 31.85 12/04/02 Income 695.4163 Units 30.96 01/07/03 Income 726.6763 Units 32.10 02/10/03 Income 587.2845 Units 28.84 03/05/03 Income 587.2845 Units 25.99 04/03/03 Income 587.2845 Units 28.77 05/02/03 Income 587.2845 Units 27.81 06/03/03 Income 587.2845 Units 28.80 07/02/03 Income 616.2654 Units 31.01 08/05/03 Income 643.9422 Units 28.41 09/03/03 Income 643.9422 Units 21.70 10/03/03 Income 643.9422 Units 25.31 FORWARD $ 471.99 $ 8,026.11 1519294450 - 51 - FORWARD RECEIPTS OF INCOME (cont'd) $ Mutual Funds (cont'd) Vanquard Intermediate-Term Investment Grade Fund Admiral Class (cont'd) 11/05/03 Income 678.453 Units 12/02/03 Income 678.453 Units 01/07/04 Income 678.453 Units 02/06/04 Income 713.32 Units 03/02/04 Income 713.32 Units 04/05/04 Income 713.32 Units 05/04/04 Income 739.919 Units 06/02/04 Income 739.919 Units 07/07/04 Income 739.919 Units 08/04/04 Income 767.27 Units 09/02/04 Income 767.27 Units 10/08/04 Income 767.27 Units 11/02/04 Income 767.27 Units 12/02/04 Income 805.541 Units Distributions on Cash Equivalents CoreStates Trust Money Market Fund FORWARD 1519294450 - 52 - 471.99 $ 28.49 27.55 27.86 27.96 27.77 29.63 28.68 30.90 29.44 30.45 30.90 30.01 31.13 30.55 $ 8,026.11 883.31 8,909.42 RECEIPTS OF INCOME (cont'd) FORWARD $ 8,909.42 Distributions on Cash Equivalents (cont'd) CoreStates Trust Money Market Fund (cont'd) 08/03/98 $ 17.07 09/01/98 19.31 10/02/98 20.21 10/31/98 20.51 12/02/98 12.56 01/04/99 0.67 02/01/99 1.18 03/01/99 1. 80 04/01/99 3.24 96.55 Everqreen Institutional Treasury Money Market Fund. Class I 04/01/99 $ 0.98 05/03/99 5.42 06/01/99 6.74 07/01/99 7.54 08/02/99 3.67 09/01/99 2.90 10/04/99 3.22 FORWARD $ 30.47 $ 9,005.97 1519294450 - 53 - RECEIPTS OF INCOME (cont'd) FORWARD $ 30.47 $ 9,005.97 Distributions on Cash Equivalents (cont'd) Everqreen Institutional Treasury Money Market Fund, Class I (cont'd) 11/01/99 2.69 12/01/99 3.58 01/03/00 3.91 02/01/00 2.95 03/01/00 2.87 04/04/00 3.29 05/01/00 5.48 06/01/00 2.12 07/03/00 0.13 OS/01/00 2.71 09/01/00 2.37 10/02/00 1. 98 11/01/00 3.76 12/01/00 4.29 01/02/01 2.07 02/01/01 1. 97 03/01/01 0.96 FORWARD $ 77.60 $ 9,005.97 1519294450 - 54 - RECEIPTS OF INCOME (cont'd) FORWARD $ 77.60 $ 9,005.97 Distributions on Cash Equivalents (cont'd) Everqreen Institutional Treasury Money Market Fund, Class I (cont'd) 04/02/01 1. 31 05/01/01 1. 83 06/01/01 1. 46 07/02/01 1. 42 08/01/01 2.14 09/04/01 1. 39 10/01/01 0.87 11/01/01 0.63 12/03/01 0.72 01/02/02 1.11 02/01/02 1. 02 03/01/02 1.12 04/01/02 0.89 05/01/02 0.69 06/03/02 1. 38 07/01/02 0.70 08/01/02 1.12 FORWARD $ 97.40 $ 9,005.97 1519294450 - 55 - RECEIPTS OF INCOME (cont'd) FORWARD $ 97.40 $ 9,005.97 Distributions on Cash Equivalents (cont'd) Everqreen Institutional Treasury Money Market Fund, Class I (cont'd) 09/03/02 1. 32 10/01/02 0.93 11/01/02 0.98 12/02/02 0.75 01/02/03 0.73 02/03/03 1. 02 03/03/03 1.12 04/01/03 0.90 05/01/03 0.88 06/02/03 1. 21 07/01/03 1. 05 08/01/03 0.91 09/02/03 1. 05 10/01/03 0.98 11/03/03 0.88 12/01/03 0.76 01/02/04 0.97 FORWARD $ 113 . 84 $ 9,005.97 1519294450 - 56 - RECEIPTS OF INCOME (cont'd) FORWARD $ 113.84 $ 9,005.97 Distributions on Cash Equivalents (cont'd) Everqreen Institutional Treasury Money Market Fund. Class I (cont'd) 02/02/04 12/01/04 1. 02 0.91 1.15 1. 25 0.96 0.94 1. 49 1. 79 1. 71 1. 93 2.16 129.15 03/01/04 04/01/04 05/03/04 06/01/04 07/01/04 08/02/04 09/01/04 10/01/04 11/01/04 Cash Cash 03/30/99 Transfer from principal 429.17 TOTAL RECEIPTS OF INCOME $ 9,564.29 1519294450 - 57 - FEDERAL STATE AND LOCAL TAXES DISBURSEMENTS OF INCOME Internal Revenue Service/United States Treasury - Fiduciary Income Tax 01/14/00 4th quarter 1999 04/14/00 1999 Balance 04/10/03 2002 Balance 04/16/03 1st quarter 2003 04/12/04 2003 Balance PA Department of Revenue - Fiduciary Income Tax 04/10/01 2000 Balance 04/08/02 2001 Balance 04/10/03 2002 Balance 04/12/04 2003 Balance FIDUCIARY FEES CoreStates Bank, N.A. - 7% commission on income receipts 08/31/98 09/30/98 10/31/98 1519294450 FORWARD - 58 - $ 0.26 197.00 221.00 3.00 10.00 $ 431.26 $ 7.00 40.00 51.00 18.00 116.00 $ 547.26 $ 1.19 1. 35 1. 41 3.95 $ 3.95 $ 547.26 DISBURSEMENTS OF INCOME (cont'd) FORWARD $ 3.95 $ 547.26 FIDUCIARY FEES (cont'd) CoreStates Bank, N.A. - Compensation as Trustee 11/09/98 $ 84.41 12/07/98 234.53 01/11/99 84.58 02/08/99 84.65 03/08/99 84.64 572.81 First Union National Bank - Monthly Asset Fee 04/26/99 $ 1.14 OS/25/99 1.14 06/25/99 1. 42 07/26/99 1. 50 08/25/99 1. 62 09/24/99 1. 70 10/25/99 1. 87 11/24/99 1. 98 12/24/99 2.06 01/25/00 2.23 02/25/00 2.23 FORWARD $ 18.89 $ 576.76 $ 547.26 1519294450 - 59 - DISBURSEMENTS OF INCOME (cent' d) FORWARD $ 18.89 $ 576.76 $ 547.26 FIDUCIARY FEES (cent'd) First Union National Bank - Monthly Asset Fee (cont'd) 03/24/00 2.30 04/25/00 2.38 OS/25/00 2.55 06/26/00 2.60 07/25/00 2.66 08/25/00 2.81 09/25/00 2.89 10/25/00 2.91 11/24/00 2.94 12/26/00 3.03 01/25/01 3.14 02/26/01 3.28 03/26/01 3.41 04/25/01 3.48 OS/25/01 3.51 06/25/01 3.58 07/25/01 3.66 08/24/01 3.83 FORWARD $ 73.85 $ 576.76 $ 547.26 1519294450 - 60 - DISBURSEMENTS OF INCOME (cent'd) FORWARD $ 73.85 $ 576.76 $ 547.26 FIDUCIARY FEES (cont'd) First Union National Bank - Monthlv Asset Fee (cont'd) 09/25/01 3.98 10/25/01 4.01 11/26/01 4.04 12/26/01 4.05 01/25/02 4.12 02/25/02 4.18 03/25/02 4.21 04/25/02 4.24 OS/24/02 4.27 110.95 wachovia Bank, N.A. - Monthlv Asset Fee/Custodial Fee 06/25/02 $ 4.35 07/25/02 4.42 08/26/02 4.43 09/25/02 4.55 10/25/02 4.61 11/25/02 4.55 12/26/02 4.64 FORWARD $ 31.55 $ 687.71 $ 547.26 1519294450 - 61 - DISBURSEMENTS OF INCOME (cont'd) FORWARD $ 31.55 $ 687.71 $ 547.26 FIDUCIARY FEES (cont'd) Wachovia Bank, N.A. - Monthly Asset Fee/Custodial Fee (cont'd) 01/24/03 4.76 02/25/03 4.92 03/25/03 4.93 04/25/03 5.01 OS/23/03 5.10 06/25/03 5.28 07/25/03 5.41 08/25/03 5.46 09/25/03 5.48 10/24/03 5.62 11/25/03 5.74 12/24/03 5.83 01/26/04 5.95 02/25/04 6.07 03/25/04 6.13 04/26/04 6.26 OS/25/04 6.21 06/25/04 6.09 FORWARD $ 131.80 $ 687.71 $ 547.26 1519294450 - 62 - DISBURSEMENTS OF INCOME (cont'd) FORWARD $ 131.80 $ 687.71 $ 547.26 FIDUCIARY FEES (cont'd) Wachovia Bank, N.A. - Monthly Asset Fee/Custodial Fee (cont'd) 07/26/04 6.17 08/25/04 6.32 09/24/04 6.44 10/25/04 6.56 11/24/04 6.65 12/24/04 6.80 170.74 858.45 GENERAL DISBURSEMENTS Transfer to principal: Dividend reinvestment on Deutsche Fixed Income Fund 03/31/99 $ 16.52 04/30/99 5.52 04/30/99 16.13 38.17 Transfer to principal: Dividend reinvestment on Deutsche Short Term Fixed Income Fund 03/31/99 $ 5.58 04/30/99 5.52 11.10 49.27 TOTAL DISBURSEMENTS OF INCOME $ 1,454.98 --------------- --------------- 1519294450 - 63 - DISTRIBUTIONS OF INCOME TO BENEFICIARIES Westminster Cemetery Cornerstone Family Services, Inc. Cash 04/30/99 OS/28/99 06/30/99 07/30/99 08/31/99 09/30/99 10/29/99 11/30/99 12/31/99 01/31/00 02/29/00 03/31/00 06/30/00 07/31/00 08/31/00 09/29/00 10/31/00 11/30/00 12/29/00 01/31/01 02/28/01 03/30/01 04/30/01 05/31/01 06/29/01 07/31/01 08/31/01 09/28/01 10/31/01 11/30/01 12/31/01 01/31/02 02/28/02 03/29/02 04/30/02 05/31/02 06/28/02 07/31/02 08/30/02 $ 28.23 4.28 34.07 40.43 39.54 57.49 52.97 54.94 56.71 65.09 68.99 70.79 94.89 67.71 72.60 136.94 72.01 77.79 160.40 79.49 81.25 144.75 78.53 82.66 151.91 83.95 89.20 163.15 89.96 87.89 171. 94 87.32 93.00 170.93 58.15 97.17 176.78 89.14 188.78 FORWARD $ 3,521.82 1519294450 - 64 - DISTRIBUTIONS OF INCOME TO BENEFICIARIES (cont'd) FORWARD $ 3,521.82 Westminster Cemetery Cornerstone Family Services, Inc. (cont'd) Cash (cont'd) 09/30/02 10/31/02 11/29/02 12/31/02 01/31/03 02/28/03 03/31/03 05/30/03 06/30/03 07/31/03 08/29/03 09/30/03 10/31/03 11/28/03 12/31/03 01/30/04 02/27/04 03/31/04 04/30/04 OS/28/04 06/30/04 07/30/04 08/31/04 09/30/04 10/29/04 11/30/04 12/31/04 88.13 131.66 232.90 180.66 60.21 255.68 188.60 29.35 159.79 94.71 246.06 147.49 102.90 326.53 163.22 143.63 271.42 155.55 82.81 294.78 171.47 104.03 294.39 174.81 112.79 285.47 88.45 $ 8,109.31 TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES $ 8,109.31 --------------- --------------- 1519294450 - 65 - TOTAL INCOME BALANCE ON HAND WACHOVIA BANK, N.A. TRUSTEE By \~~~ KELLEY MRAIN Vice President Prepared By: F.W. Examined By: K.A. 06/20/05 1519294450 INCOME BALANCE ON HAND VALUE AT 12/31/2004 $ FIDUCIARY ACQUISITION VALUE .00 $ .00 ---------------- ---------------- ---------------- ---------------- - 66 - DISTRICT OF COLUMBIA KELLEY ADRAIN, Vice President of Wachovia Bank, N.A., Trustee, being duly sworn, declares and says that the foregoing Account, as stated, is just and true to the best of her knowledge and belief. \~~~ OcL-~__~/ KELLEY ~RAIN Vice President Sworn and Subscribed to before me this J L( +), day of JU'YLe_. A.D., 2005 CJ tfl/t.t Q, dvtrG Notary Public I O.C. CHERI D. OSBORNE Notary Public District of Columbia My Commission Expires May 31, 2006 1519294450 - 67 - Court of Common Pleas of Cumberland County-Orphans' Court Division COMMONWEALTH OF PENNSYLVANIA WESTMINSTER CEMETERY, INC. D/B/A WESTMINSTER CEMETERY Settlor No.~f -05 -D73J.. To .. ) . --, . '~) W ACHOVIA BANK, N.A., Trustee - ",..... .. --.j PETITION FOR ADJUDICATION-TRUST INTER VIVOS -,-"" ". .J The petition of the undersigned Trustee under deed of trust respectfully '.)1 represents: That a First and Interim Account was filed in the office of the Clerk of the Orphans' Court Division on &J' ,}tJDS and advertised for audit on , That the said WESTMINSTER CEMETERY, INe. D/B/A WESTMINSTER CEMETERY, Settlor/Trustor, though its parent company, Loewen Group International, Inc., on July 17, 1998, executed a Deed of Trust to First Union National Bank, Trustee. Subsequently, Loewen Group International, Inc. was purchased by Cornerstone Family Services Inc., now known as Stonemor Partners, LP. The Trust Agreement was amended by Assignment of and Amendment to Care Fund Trust Agreement Perpetual Care Trust Agreement dated September 14, 2004. The Trust Agreement and the amendment thereto are not recorded. A copy of each document is hereto attached. The reason for filing the present account is: Per the requirement of9 Pa. Con. Stat. 9908(a) and to confirm the current account and to award principal and income to Wachovia Bank, N.A. Trustee, in continuing trust. 637656 ~. The names of all persons having any interest, vested or contingent, in the trust, with their relationship, and the nature of their interests, are as follows: (If this is a terminated trust, set forth the name of life beneficiary, date of death, and name oflegal representative.) N/ A (If this is a continuing trust, set forth the name ofthe succeeding trustee and date of appointment. ) Notice was provided via first class mail dated August 10,2005, to each ofthe following: Wachovia Bank, N.A., Trustee c/o Kelley Adrain VP Capital Management Group, DC 1984 1300 I Street, N.W. 1ih Floor West Tower Washington, DC 20005 Westminster Cemetery, Inc. D/B/A Westminster Cemetery, Settlor c/o Stonemor Partners L.P. A TTN: Linda Punturiero, Trust Department 155 Rittenhouse Circle Bristol, P A 19007 Mary Kenny, Esquire Office of the Attorney General 21 S. 1ih Street Philadelphia, P A The accountant has given written notice of the filing of the account and the call thereof for audit and confirmation to every unpaid claimant who has given written notice of his claim to the accountant or to his attorney of record, and to every other person known to the accountant to have an interest in the trust as beneficiary, heir, or next of kin. None. Wherefore, your petitioner asks that distribution be awarded to the persons thereto entitled, and suggests that the distributive shares of principal and income are as follows: 637656 ..J All remaining balances to be awarded as follows: Princioal- To Wachovia Bank, N.A., Trustee for the benefit of Westminster Cemetery Inc. d/b/a Westminster Cemetery, in continuing trust. Income - To Westminster Cemetery Inc. d/b/a Westminster Cemetery. And your petitioner/s will respectfully pray, etc. Respectfully Submitted, W ACHOVIA BANK, N.A. By: \l,-~ DcL~ Kelley Adrain\ Vice President, Trustee 01 s"'WU C1 6 ~ l.{)LIIl"\2>I-A STATE OF : SS : SS COL1}.TTY OF : SS Kelley Adrain, Vice President of the above captioned Wachovia Bank, N.A., Trustee, being duly affirmed say/s: That the statements made in the foregoing petition which are within personal knowledge of petitioner are true, and as to statements based on information of others, the petitioner/s, after diligent inquiry, believe/s them to be true. Affirmed and subscribed before me this-chly of "'tl~ tAa'1 D f A uS od J ).lJ'.) 5. Wachovia Bank, N.A. By: \(.~ O~~ Kelley Adrain, 'Vice President CHERID'. OSBORNE tlotary Public District of Columbia _ Commission Expires May 31, 2006 637656 Court of Common Pleas of Cumberland County-Orphans' Court Division COMMONWEALTH OF PENNSYLVANIA WESTMINSTER CEMETERY, INe. D/B/A WESTMINSTER CEMETERY Settlor No. To W ACHOVIA BANK, N.A., Trustee STATEMENT OF PROPOSED DISTRIBUTION Principal Balance as per Account $ 36.968.86 Increases and/or Decreases: None Principal Balance for distribution: Which is awarded as follows: $ 36.968.86 To: W ACHOVIA BANK, N.A., Trustee, in further Trust Income Balance as per Account $ -0- Increases and/or Decreases: None Income Balance for distribution: Which is awarded as follows: $ -0- To: WESTMINSTER CEMETERY, INC. d/b/a Westminster Cemetery 637656 ,...---- I hereby certify that the foll.owing ~s a true and correct copy of the original docjent. _. . . ~~ Nina B. Stryker, sqUIre Attorney LD. #36531 PERL\1ANENT LOT CARE FUND TRUST AGREEMENT THIS AGREEMENT made as of the day ohT'/.:~//7, ///2 , Westminister Cemetery Inc, d/b/a Westminister Cemetery , a PA Group International, Inc , and First Union National Bank by and between corporation The Loewen WIT N ESSE T H: Intending to be legally bound, the parties agree as follows: 1. (a) The Trustor hereby establishes with the Trustee a fund separate and apart from all other funds, property or securities belonging to the Trustor, which fund shall compose the trust estate to be governed, invested, reinvested and disposed of under the terms hereof, and shall consist of deposits to be made hereunder. This trust shall be administered in accordance with the laws of the State of P A (the "Statute"). Trustor shall set aside annually and deposit into the permanent lot care fund a sum equal to (i) at least (Enter %) of the gross amount of the funds arising from the sale oflots in Westminister Cemetery Inc., dfo/a Westminster Cemetery located in P A and owned by Trustor. In the event any provision of the Statute is amended or replaced by the successor regulation, this agreement shall automatically and without action by the parties be amended to consist of such successor regulation. Notwithstanding the foregoing, Trustor shall promptly, upon its knowledge and receipt of fu'1Y a..mendment or replacement of any provision of the Statute, provide such amendment or replacement to Trustee. (b) The Trustee shall not be responsible for collecting any funds or deposits from Trustor, nor for the adequacy or sufficiency of amounts deposited by the Trustor with the Trustee hereunder, and the Trustee shall be responsible and accountable hereunder only to the Trustor alld only for sums actually deposited with and receipted for by it hereunder, and for income and appreciation thereon. Further, Trustor holds Trustee harmless for any asserted or claimed liability brought by a third party regarding Trustee's duties hereunder. (c) All sums deposited by L1}e Trustor wit.'1 the Trustee hereurlder may be co- mingled and held and invested as one fund by the Trustee. _. ~ a) All monies deposited with t'1e Trustee herellilder shall be received by lL I~Jr ,he purposes of u1.is truST a..l1d shall be invested and from thlle to time reinvested in accordance v.,.-itll the StaTUte. (b) If t..~e Trustor adopts investment objectives, it shall fll:.i1isn a copy to the 1 rUSlee a..'1d the Trustee agrees to take such policy into consideration to the greatest extent possible, consonant with the discharge by the Trustee of its fiducifu-Y duties and obligE-tions. (c) The Tmstor reserves t.he right to request the Trustee to sell,exchang~, or othenvise dispose of, or to retain property of the trust or to purchase for the trust any investments authorized l:)~lla\^/. -~, . 3. Consistent with the purposes of the Statute, by way of illustration and not of limitation, and in addition to all powers it may now or hereafter have, the Trustee is authorized and empowered with respect to the trust hereby created, in its sole and absolute discretion: (a) To, at any time, render liquid the trust estate, in whole or in part, and hold cash or readily marketable securities of little or no yield for such period as it may deem advisable, (b) To sell, transfer, exchange, convert or otherwise dispose of, or grant options with respect to, any and all property at any time forming a part of the trust estate, in such manner, at such time or times, for such purposes, for such prices, and upon such terms, credits and conditions as it may deem advisable, (c) To borrow money for the purpose connected with the protection, preservation or improvement of the trust estate whenever in its judgment advisable, (d) The vote in person or by general or limited proxy with respect to any shares of stock or other securities held by it; to consent, directly or through a committee or other agent, to the reorganization, consolidation, merger, dissolution or liquidation of any corporation in which the trust may have any interest, or to the sale, lease, pledge or mortgage of any property by or to any such corporation and to make any payments and to take any steps which it may deem necessary or proper, (e) To hold any and all stocks, bonds, notes, mortgages, or other property in bearer form, in its own name, or in the name of its appointed nominee, with or without disclosing the fiduciary relationship, and its liability shall be neither increased nor decreased thereby, (f) To exercise all options, rights and privileges to convert stocks, bonds, notes, mortgage or other property into other stocks, bonds, notes, mortgages, or other property; to subscribe for additional or other stocks, bonds, notes, mortgages or other property; to make such conversions and subscriptions and to make payments therefor; and to hold such stocks, bonds, notes, mortgages or other property so acquired as investments of the trust's fLllld, (g) To pay, commomise, compound, adjust, submit to arbitration. sell or release any claims or demands of the trust against others or of others against the Trust on sueD :em1S as it may deem advisable. including the acceptance of deeds of real property in satisfaction ~)f bonds and mortgages, and to make any payments in connection therewith which it may deem advisable, (h) To reduce the interest rate at any time and from time to time on any mongage constituting a ponion of the trust fund, and to continue mortgages upon or after maturity with or without renewal or extension upon such terms as it may deem advisable, without reference to the value of the mortgage security at the time of such continuance, (i) To retain property bid in under foreclosure or taken over 'vvithout foreclosure for such time as it shall deem advisable, and to dispose of such property by sale, exchange, or otherwise upon such terms and conditions as to it shall deem advisable, CD To improve, manage, protect and subdivide any real property at any time forming a part of the trust estate; to dedicate parks, streets, highways or alleys; to vacate any subdivision or part thereof and to resubdivide the same as often as desired, to contract to make leases and to grant options to lease and options to renew leases and options to purchase the whole or any part of the reversion, and to contract respecting present or future rentals; to partition said property, or any part thereof; to grant easements or charges of any kind, release, conveyor assign any rights, title or interest in or about any easement appurtenant to any property or part thereof, (k) Out of rents, profits, or other income received, to set up such reserves for taxes, assessments, insurance premiums, repairs, improvements, depreciation, bad debts, obsolescence, and general maintenance of buildings and other property as it shall deem advisable, (1) To determine the market value of any assets of the trust estate or of any combined trust on the basis of such quotations, evidence, data or information as it may deem pertinent or reliable, (m) To employ investment advisors, agents, certified public accountants, attorneys (including expressly the attorney or attorneys serving as counsel for Trustor) and any other persons whose services may be appropriate for the administration of the trust, including the conducting of any annual audit of trust assets, and to pay reasonable compensation therefor from trust funds. Trustee shall take into consideration the recommendations of Trustor with respect to selection of investment advisors pursuant to this paragraph, (n) To determine what is principal and what is income of the trust estate, and, in its sole and uncontrolled discretion, to allocate or apportion gains lli'1d losses realized from the sale or other disposition of any assets as between principal and income, (0) To rely upon any affidavit, certificate, letter, notice, telegram, or other paper or upon lli'1Y telephone conversation believed by it to be genume, and upon any other evidence believed by it to be sufficient, and (P) To execute and deliver any and all instruments in writing which it may deem advisable to carry out any of the foregoing powers. No party to any such instrument in ",Tiring signed by the Trustee shall be obliged to inquire into its validity, or be boun.d to see to the application by the Trustee of any money or other property paid or delivered to it by such party pursuant to the terms of any such instrument. 4. (a) The Trustee shall distribute quarterly all net income (as defined in the immediately following sentence) of the trust fund to the Trustor. "Net income" shall include all dividends, interest, rents, royalties, and other income deemed to be income and not principal under general trust laws, less all Trustee fees and proper expense incurred by the Trustee.. ..The distribution of income from the trust fund is subject to the overall limitation that at no time shall any income be distributed if it would cause the value of the assets of the trust fund (based on their current fair market values as of the time of such distribution) to be less than the aggregate amounts required to be deposited under the Statute. When the value of the trust fund exceeds the aggregate amounts required to be deposited under the Statute, any accrued and unpaid income may then be distributed to the Trustor. (b) The Trustee shall distribute principal to the Trustor upon its V\'Titten request delivered to the Trustee from time to time under any of the following circumstances: (i) Upon the termination or revocation of this Trust Agreement, the entire trust estate shall be distributed to the successor trustee or as otherwise directed by the contract purchaser in accordance with governing law and the provisions or then outstanding contracts. 5. The Trustee shall keep a true and correct account of all receipts and disbursements by it hereunder, and shall furnish to Trustor monthly (a) a statement showing all receipts and disbursements by the Trustee hereunder in the previous month and (b) an inventory of the property constituting the trust fund at the close of such period. The Trustor shall compute and apply the net income as computed under the provisions hereinbefore provided. 6. The trust hereby created is and shall be irrevocable, although it may be amended by written agreement between the Trustor and the Trustee, but not in any manner that shall change or affect the substantive rights and obligations as herein set forth, or to replace the represent Trustee except as provided hereinafter, and this trust shall continue until the entire trust fund, and the income thereon, shall have been disbursed by the Trustee as herein provided. 7. The Trustee shall be entitled to receive and be paid on a semi-annual basis for its ordinary and usual services hereunder fees, payable solely from the income earned on such tmst funds, at the rate set forth in the "Schedule of Fees" attached hereto as Exhibit A. For extraordinary services rendered by the Trustee, it shall be entitled to be paid a reasonable sum mutually agreed upon by Trustor and Trustee. With respect to services rendered by Trustee under this Section 7, the maximum amount to be withdrawn for Trustee fees shall be the lesser of 3 % of the balance of the trust calculated on an annual basis, or the lli'1l0unt of fLTll1ual income generated therefrom. 8. The term "Trustor" wherever used herein shall mean not only Westminster Cemetery Inc dfD/a Westminister Cemetery, but, as well, its successors and any corporation wit.'1 which it may be consolidated or into which it may be merged, and the assignee of all, or substa..'1tially all, or its business assets and which shall succeed to and assume its rights and obligations hereunder, and any court-appointed receiver or conservator of Westminister CemeTery Inc., dfb/a Westminister Cemetery. The term "Trustee" wherever used herein, shall mean not only First Union National Bank , but, as well, its successors or any corporation with which it may be merged or into which it may be consolidated or to whom its assets may be sold. 9. The Trustor may remove the Trustee by written notice delivered to the Trustee ninety (90) days in advance of such removal, and appointing a successor trustee, which appointment shall be of a chartered state or national bank, trust company, or any other qualified trustee under the Statute, which appointment shall have been accepted by the successor trustee in writing. Upon removal of the Trustee named herein, the successor trustee shall succeed to all the rights, powers and duties under this agreement. Immediately upon the appointment of such successor trustee, the Trustee named herein shall transfer and deliver to such successor trustee hereunder the entire trust fund (less its charges for its fees and expenses against the same), upon and against the receipt of such successor trustee therefor, and thereupon all responsibility of the Trustee herein named shall cease and forever end. 10. The Trustee may resign as trustee at any time upon glVl)J.g ninety (90) days' written notice, mailed to the Trustor at its last known address. Not later than the expiration of said ninety (90) days' notice, the Trustor shall designate a new or successor trustee hereunder, which shall be a chartered state or national bank, trust company, or any other qualified trustee of the Statute, authorized to do business in the state of P A, which appointment shall have been accepted by the successor Trustee in writing. Such new or successor trustee shall have all the duties, rights, powers and authority herein conferred upon the Trustee named herein. Immediately upon the appointment of such new or successor trustee, the Trustee named herein shall transfer and deliver to such new or successor trustee hereunder the entire trust fund (less its charges for its fees and expenses against the same ), upon and against the receipt of such new or successor trustee therefor, and thereupon all responsibility of the Trustee herein named shall cease and forever end. In the event the Trustor shall fail within said time to designate a new or successor trustee hereunder, or such new or successor trustee so designated shall fail or refuse to accept the trust and its assets and to execute and deliver to the Trustee herein named a receipt therefor, then the Trustee herein named shalL upon application to any court of competent jurisdiction, be entitled to have a successor trustee hereunder appointed, such successor trustee to have all the rights, obligations and powers herein conferred on the Trustee herein named. 11. If the Trustor is dissolved or ceases to exist and there is no successor to or assignee of the assets of Trustor, or if for any other reason there is no person or corporation in existence having the rights and obligations or Trustor hereunder, then the Trustee, or fu'lY successor trustee, shall have the right at the expense or the trust fund and upon notice to Trustor, to petition any court of competent jurisdiction, for the appoint.'llent of some person, fim1 or corporation to take over, assume and perform the obligations imposed upon, and to have the ~~~'~~eIlts inuring to, Trustor under the terms or this insTrument; or the Trustee or successor Ul.1Stee may, aT its election, and at the expense of the trust fund and upon notice to Trustor, petition any such court for the appointment of a receiver or conservator of and for Trustor and its assets a..'1d business, and if any such application or petition is filed, the Trustor hereby irrevocably consents to the granting of the relief prayed in such application or petition. 1:2. If at any time court or agency of the state of P A ("Regulator") makes a determination that the trust account is under fuIlded such that the current fair market value of the assets are not sufficient to meet the total current obligations as required under the Statute or any successor regulation, the Regulator may order the Trustor to deposit all of the income (including net gain on the same or other disposition of assets) received after the date of such order t? the principal of the trust account until the fair market value of the assets of the trust account are at least equal to the total current obligations as determined by the current deposits required by the Statute or any successor regulation. The Trustee will incur no liability for distributing income of the trust account to the Trustee until it has received a written copy of the Regulator's order. 13. All notices to be sent hereunder shall be mailed by United States mail, certified, return receipt requested, and shall be sent to the respective parties at the addresses indicated below or to such other address as the parties may give notice in writing: If to Trustor: Westminister Cemetery Inc, d/b/a Westminister Cemetery Frank Milles Vice President 3190 Tremont Avenue Trevose, P A 19053 and If to Trustee: First Union National Bank 1500 Market Street West Tower Philadelphia., PA 191-2 IN WITNESS WHEREOF, the parties hereto have caused this instrument to be duly executed in their own proper names by their proper officers thereunto duly authorized, and have caused their corporate seals to be hereunder affixed, on the day and year first above written. ATTEST: Westminister Cemetery Co., d/b/a Westminister Cemetery ~: \.. . ,/\. / I )" \ '-;:J><-X~ Name: Bri~zman Title: Trust Manager o ~r- BY'~ Nam~/frank Milles Title: Vice President ATTEST: First Union National Bank ~-- - ..... , ;~",:t~\/ \ ")~ \ ~'/{ .~ "'T. ..? \ ~ ,\ , ~ a..11lt. L ,>J i,C'~ t r e. ,'Z-tlC' .,....,.,t1 .~ _' _.l. I' ':fo..r-- Ilde. , " 'v" ~ N'- r .Ii " \....'. ~ \. .. "L\ l~"- /......'\ B~~ Name: PI?.A"-1. ~~le1- Title: Vtc~ P{"(S':k"d.!- o>/i~'} /;/ ;,;:/ // / J2 j:)1' c> /" /~(__// ;1i 1// ~yt.I!.- {,to' ji,,; ,co c.v, . y / /\.f / I II (~4d (1/ /. #-1<t?&l/ -[. (/ ~,~I 5 /-- ~~;:r;c--?rC STATE OF PENNSYLVANIA : SS COUNTY OF 0 vc 'L'::> The foregoing instrument was acknowledged before me this ?-u,y.... day -S- ,-,rZ- of 1998, by Frank Mill~ as Vice President of West minister Cemetery Co., d/b/a Westminister Cemetery WITNESS my hand and official seal. My commission expires: r NOT AAJAl SEAL i DENISE CAMPBELL. Notary PU-"i' I Trevose. Bucks County My Commission ?xPires ~arch 5, 200' tCY~ ~ I) ). ~(J t. /- d STATE OF 1_-t/'701L4--<;ri/1r-t:UlZAA''-------" COUNTY OF ~-"/L~ i : SS as/ " U The foregoing instrument was acknowledged before me this c2 () '",:::: day of ~ ' 1998, by J. A#JM L lj:dd, ~ v U i/ -!'CW/i--/![v/!::-' fuld as of First Union National Bank WITNESS my hand and official seal. My coml'nission expires. NI:Jblriat Seal EDtBGe LOlMs, Notary PutlfIo PhIladelphia. Philadelphia County My Commi~ion Expires Feb. 18, 1999 !~,~oi~~~JS r :.: --:/ // /') - rt:zrJ!J' j; t ( ~ /1/ f'/jy_{>/ I I ~~\. ~ :... ' LY---L-7J~. L./ I hereby certify that the following is a true and correct copy of the original dO~ . . .. . (~ Nina B. Stryker, squire Attorney LD. #36531 ASSIGNMENT OF AND AMENDMENT To CARE FuND TRUST AGREEMENT PERPETUAL CARE TRUST AGREEMENT " . . . THIS ASSIGNMENT AND AMENDMENT ("Assignment and Amendment"} is made as of ~+ ) '-1ft., ,2004, with an EffectIve Date as hereinafter provided by and among CORNER TONE FAMILY SERVICES, INC. ("'CFSI"), Westminster Cemetery LLC ("Parent"), Westminster Cemetery Subsidiary LLC ("Subsidiary"), and Wachovia Bank, National Association flk/a First Union National Bank ("Trustee"). WHEREAS, Parent is the legal successor to Westminster Cemetery Subsidiary LLC clIb/a Westminster Cemetery ("Trustor") by merger of Parent into a Pennsylvania limited liability company under 15 Pa. Cons. Stat. ~ 8901 et. seq. ("Merger"); WHEREAS, CFSI, on behalf of Trustor, and Trustee entered into a [care fund trust agreement] I [perpetual care trust agreement] for sales of burial lots andservices by Trustor, dated as oft (n It ~,\q; (the "Trust Agreement"); and WHEREAS, as successor.to Trustor, Parent wishes to assign certain rights and obligations of Trustor to Subsidiary to enable Subsidiary to assume certain rights and duties of Trustor; and -^..' _ '.' ,;.. ,',":'-"':.--'-,,,, '., ....:.~" WHEREAS, as succesSbrto'FrtJ.stor, Parentwishes toamendtlfe Trust Agreement to provide that Parent shall have the exclusive obligation under the Trust Agreement to make contributions to the Trust; and..- ...' . WHEREAS, the Board of Directors of the Trustor by unanimous written consent approved, prior to the Merger, the actions established by this Assignment and Amendment and such approval has been adopted, ratified;;,and'eohfirmeilby the sole member of Parent. NOW THEREFORE, in:corisideration offue premises and the mutual promises contained herein, and intending to be legally bound hereby, the Trust Agreement is hereby assigned and amended as follows, effective on the Effective Date as hereinafter provided: 1. Trustor assigns all of its right, title and interest in the Perpetual Care Trust "Agreement to Subsidiary. Subsidiary accepts such assignment and agrees to be bound by the terms of the Trust Agreement as amended by the terms hereof Parent and Subsidiary agree to fully cooperate with each other in carrying out the intents and purposes ofthis Assignment and Amendment. . 2. AUreferencesio'"Irustor''' in the PerpetUalCare'TrusfAgree1nenf snaIl be deemed to mean the SuBsiaia:ry'(as defined above), except as otherwise provided below in Sections 3 and 4. 3. In the following sections, all references to "Tmstor" shall be deemed to mean the Parent (as defmed above): 109495.00113/11326731 vI Section 1 (a) - Sentence 3 - Line 1. Section l(b) - Line 2. (both reference) Section l(b) - Line 4. Section 2(b) - Line 1. Section 7 - Lines 2 and 5: Section 9 - Line 1. Section 10 - Line 2. Section 13 - Line 4. 4. In the following sections, all references to "Trustor" shall be deemed to mean the Parent and the Subsidiary (as defined above): Section 1 (b) - Line 5. Section 2( c) - all references to "Trustor" Section 2( d) - all references to "Trustor" Section 6 - Line 2. .... . Section 11 - all references "Trustor" Section 13 - Line 5 Section 16 - Line 3 Section 17 - all references "Trustor" 5. language: Section 1- (a)-Sentence1 is deleted in its entirety and replaced with the following "A predecessor of Parent has hereby established a trust with the Trustee an irrevocable cemetery care fund (the "Fund") separate and apart from all other funds, property or securities belonging to the Trustor, which Fund shall constitute the trust estate to be governed, invest~d, reinvested and disposed of under the terms hereof, and shall consist of deposits to be made hereunder." 6. The Effective Date of this Assignment and Amendment shall be the effective date of that certain Transfer Agreement between Cemetery Company and Subsidiary (the "Transfer Agreement".). 109495.00113/11326731vl .... .' "." 7. Except as provided above, the terms and conditions of the Agreement shall remain in full force and effect. .....-..~-~..........~=.....:.. ~<j _::~-~~_._--_..:........-~':.~----- .., -"~~-.~::~~_:_~"'''''":~'''~~7:'C:",,~~~::,'":;-;;; .~:.o:<"~,:~:;;;::,,f.' ._ _._..... '._. ,_~'-. . ~. " C~'_'_ '"... _._.. ,__ .,-_. ',. 109495.00 113/11326731 v 1 i"~7-';;t?'~" IN WITNESS WHEREOF, CFSI, the Trustor, Subsidiary andthe Trustee have caused this Amendment to be ~xecuted as of the day and year first written above. CORNERSTONE FAMILY SERVICES, INC. "'-' . ,"" "- .". .;~'/:~$ Vice Pre ent Westminster Cemetery LLC By. ~~ Vice Pre(ident . ~:W~~tfuin~f~f:CemeiefYS uhgiClf~""" ':LO:';'c,<' By: .Vice .Pr "-. -' . --~.- -...,.--. "~., '. ....,..., .~,. Co.: ..: ~.. , ACCEPT~D, this (L.f-H-ttay of~004 Wachovia Bank, National Association'Wa'First9nion National-Bank -',.- _,'~,"""".o<.,':~_,_,.-_' """,:'~_ -.7-._.",..--'..,....,...::0'..,.. ~,_-. By: \~~ ~ \).LL P'fl-S/~~ \ 109495.00113/11326731v1 [END OFEXECUTIONS] ~ Court of Common Pleas of Cumberland County-Orphans' Court Division COMMONWEAL TH OF PENNSYLVANIA WESTMINSTER CEMETERY, INC. D/B/A WESTMINSTER CEMETERY Settlor No. To W ACHOVIA BANK, N.A., Trustee TO: Westminster Cemetery, Inc. Mark A Pacella, Esquire Wachovia Bank, N.A, Trustee d/b/a Westminster Cemetery, Chief Deputy Attorney c/o Kelley Adrain VP Settlor General Capital Management Group, c/o Stonemor Partners L.P. Commonwealth of DC 1984 A TTN: Linda Punturiero, Pennsylvania 1300 I Street, N.W. Trust Department Charitable Trusts and lih Floor West Tower 155 Rittenhouse Circle Organizations Section Washington, DC 20005 Bristol, P A 19007 Strawberry Square Harrisburg, P A 17120 NOTICE You are hereby notified that the accountant has filed a First and Interim Account and a petition for adjudication of all real and personal property of the aforementioned perpetual care cemetery trust in the Office of the Clerk ofthe Orphans' Court ofthe County Cumberland, Cumberland County Courthouse, 1 Courthouse Square, Carlisle, Pennsylvania 17013, to be placed on the audit list for October 11,2005. Copies ofthese documents are attached. If you obj ect to any portion of the account or petition for adjudication, you must file objections by 9:00 AM. on October 11, 2005, the date the account and petition for adjudication will be confirmed by the Clerk of the Orphans' Court. You are hereby warned that ifno objections are filed, the account and petition for adjudication will be confirmed and distribution will be made in accordance with the statement of proposed 644248 " I> distribution, attached to the petition. If you have any questions concerning this notice, you should contact your attorney or the accountant's attorney. Nina B. Stryker #36531 Counsel for the Accountant 1617 JFK Boulevard Philadelphia, P A 19103 Address (215) 665-3057 Telephone number 644248 '0 ~ 0 t::~O~ _ 01 Q) :J .-= - a> c:: '> :E ~ 0 ~ c:: a. <<l ~" '-= - () a> a> '- E .- ~i:~'~~~~ ~ ~~g!j~o~ g ~ J ~ ~ j ,0 .~ 'i ~ 11 ~ Xl s giJ'G1i i~ ~ ~'Iigi:~~ H~u ~~H Q) ~ ~ .Eo :ga> ~ ~ ~ ,!:: .c,1: >c::-a> _ ~ Q) ~ .E .c: ~ D.. :>< E-< .--ID.. 5 <"1..:l l!)..:l a 1.0 U rl, <"1 .-i '" =# Q) ~ (() 0. r- rx. 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