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HomeMy WebLinkAbout11-15-05 REV.1600 EX + (6-00) * COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE DEPT. 280601 HARRISBURG, PA 17128-0601 REV.1500 INHERITANCE TAX RETURN RESIDENT DECEDENT OFFICIAL USE ONLY FILE NUMBER II 2005 COUNTY CODE YEAR SOCIAL SECURITY NUMBER 402 NUMBER DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SCHWARTZ, Donald H. 168-36-6585 I- Z W C W U w c DATE OF DEATH (MM-DD-YEAR) DATE OF BIRTH (MM-DD-YEAR) THIS RETURN MUST BE FILED IN DUPLICATE WITH THE 03-11-2005 REGISTER OF WILLS SOCIAL SECURITY NUMBER (IF APPLICABLE) SURVIVING SPOUSE'S NAME ( LAST, FIRST AND MIDDLE INITIAL) w .... ",:!!ill) 00<:'" wo..o ,,00 00<:..J o..lD 0.. <I: o 1. Original Return o 4. Limited Estate o 6. Decedent Died Testate (Attach copy of Will) o 9. Litigation Proceeds Received o o D D 4a. Future Interest Compromise (date of death after 12-12-82) 7. Decedent Maintained a Living Trust (Attach copy of Trust) 10 Spousal Povertv Credit (date of death between . 12-31-91 and 1-1-95) 2. Supplemental Return o 3. Remainder Return (date of death prior to 12-13-82) D 5. Federal Estate Tax Return Required o 8. Total Number of Safe Deposit Boxes o 11. Election to tax under Sec. 9113(A) (Attach Sch 0) THIS$ECTION MUST BE 'COMPI.ETED.ALI.:CORRESPONOENClfANDCONF,QENTLAI..TAXINfORMATioNSHOULO' BE[)IRECTEO.TO,: NAME COMPLETE MAILING ADDRESS JERRY R. DUFFIE .... z w o z o 0.. lI) w 0<: 0<: o o FIRM NAME (If applicable) JOHNSON, DUFFIE, STEWART & WEIDNER 301 MARKET ST. PO BOX 109 Lemoyne, PA 17043-0109 TELEPHONE NUMBER (717) 761-4540 1. Real Estate (Schedule A) (1 ) 70,500.00 None None None 4,169.75 None None (8) 14,834.62 70,323.26 OFFICIAb-llSE ONLY C"-"~ -'.-) 2. Stocks and Bonds (Schedule B) (2) 3. Closely Held Corporation, Partnership or Sole-Proprietorship (3) 4. Mortgages & Notes Receivable (Schedule D) (4) 5. Cash, Bank Deposits & Miscellaneous Personal Property (5) (Schedule E) z 6. Jointly Owned Property (Schedule F) (6) 0 o Separate Billing Requested i= c( 7 . Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7) ...J ;:) (Schedule G or L) D Separate Billing Requested I- 0:: 8. Total Gross Assets (total Lines 1-7) c( u 9. Funeral Expenses & Administrative Costs (Schedule H) (9) w a:: 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10) 11. Total Deductions (total Lines 9 & 10) 12. Net Value of Estate (Line 8 minus Line 11) t...:._"l LI . -:1 (...) 74,669.75 (11 ) 85,157.88 (12) insolvent 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) 14. Net Value Subject to Tax (Line 12 minus Line 13) (13) 0.00 (14) 0.00 SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, 0.00 x .00 (15) 0.00 z or transfers under Sec. 9116(a)(1.2) 0 (16) i= 16.Amount of Line 14 taxable at lineal rate 0.00 x .045 0.00 ~ ;:) 11. 17.Amount of Line 14 taxable at sibling rate 0.00 x .12 (17) 0.00 ::iE 0 u 18. Amount of Line 14 taxable at collateral rate 0.00 .15 (18) 0.00 )( x ~ 19. Tax Due (19) 0.00 20.0 CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT. -', ,,;;):;~, ;:,,~-; \;8i~L'::::/:i.-' >>BE'SURE~TOA~SW;R'AJ+i[q~~~:n(j~$;6J1j;R~((ERSE;~il)!!.'AND fiEC4fi~c~:MATH <'<;.<".:. . .k'. .... . Copyright 2002 form software only The Lackner Group, Inc. Form REV-1500 EX (Rev. 6-00; RK. 1lI~ 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;.................................................................................. D [!J b. retain the right to designate who shall use the property transferred or its income;.................................... D [!J c. retain a reversionary interest; or.................................................................................................................. D [!J d. receive the promise for life of either payments, benefits or care?.............................................................. D [!J 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? ................. .... ........................................................................................... ....... D [!J 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?......... D [!J 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation?..................................................................................................................... D [!J IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. Under penalties of pe~ury. I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the,personal representative is based on all information o~ whi"h preparer has any knowledge. .. _~_u_,_..___ SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN ADDRESS DATE Y M. Wood 305 Georgetown Road . : m Ii )IJ:tX Mechanicsburg, PA 17050 1/-, l-Cfi S ATURE F: ERSON RESPONSIBLE FOR FTClNG RETURN ADDRESS -----~,-------------~- - -----------, .----- ~ ~w:,~, :::~~~~,~ '00"''' 6~~~~ ~t1~~;; "<ee' u _~ (-ILOS ,,,,_ JERR DUFF Decedent's Complete Address: STREET ADDRESS 25 Sussex Road CITY Cam p Hill STATE P A Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. Credits/Payments A. Spousal Poverty Credit 8. Prior Payments C. Discount 0.00 Total Credits (A + 8 + C) 3. Interest/Penalty if applicable D. Interest E. Penalty Total Interest/Penalty (D + E) 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 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. A. Enter the interest on the tax due. 8. Enter the total of Line 5 + 5A. This is the BALANCE DUE. Make Check Payable to: REGISTER OF WILLS, AGENT ~ 301 MARKET 51 Lemoyne, PA 17043-0109 ZIP 17011 (1 ) 0.00 (2) 0.00 (3) (4) (5) 0.00 (5A) (58) 0.00 DATE II-Jl-{f; For ate of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the su .. g spouse is 3% [72 P.S. 99116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0% [72 P.S. 99116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is 0% [72 P.S. 99116 (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 noted in 72 P.S. 99116 1.2) [72 P.S. 99116 (a) (1)]. 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. 99116 (a) (1.3)]. A sibling is defined under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. Rev-1602 EX+ (6-98) . SCHEDULE A REAL ESTATE COMMONWEALTH OF PENNSVLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 All re.1 property owned solely or as a tenant In common must be reported at fair market value. Fair mar1<et value is defined as the price at which property would be exchanged between a willing buyer and a wiliing seller, nerther being compelled to buy or sell, both having reasonabie 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 -located at 25 Sussex Road, Camp Hill, Lower Allen Township, Cumberland County, Pennsylvania. Tax Parcel No. 13-24-0797-224. Property sold on September 2,2005. The settlement sheet is attached to this Return. 70.500.00 TOTAL (Also enter on Line 1, Recapitulation) 70.500.00 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule A (Rev. 6-98) Rev-160S EX+ (6-9S) . SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 Include the proceeds of I~igetion and the date the proceeds were received by the estate. All property jolntly-owned with the right of survivorship must be disclosed on schedule F. ITEM NUMBER DESCRIPTION 1 Citizens Bank - Checking Account VALUE AT DATE OF DEATH 2,500.00 2 Citizens Bank Savings Account 237.00 3 Fulton Bank Checking Account 120.00 4 Postmark Federal Credit Union - Checking Account 50.55 5 Reimbursement - to Estate for County Taxes (173.53); School taxes (864.52) and Sewer (24.15) 1,062.20 6 Automobiles - 2 Automobiles owned at Death 200.00 TOTAL (Also enter on Line 5, Recapitulation) 4,169.75 (If more space is needed, additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule E (Rev. 6-98) REV-1161 EX+ (12-99) *' SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 Debts of decedent must be reported on Schedule I. ITEM DESCRIPTION AMOUNT NUMBER A. FUNERAL EXPENSES: See continuation schedule(s) attached 6,897.50 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Social Security Number(s) I EIN Number of Personal Representative(s): Street Address City State Zip - Year(s) Commission paid 3,735.00 See continuation schedule(s) attached 2. Attorney's Fees 3,735.00 See continuation schedule(s) attached 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees 125.00 See continuation schedule(s) attached 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. Other Administrative Costs 568.71 See continuation schedule(s) attached TOTAL (Also enter on line 9, Recapitulation) 15,061.21 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H (Rev. 6-98) Rov-1602 EX+ (6-98) . SCHEDULE H-A FUNERAL EXPENSES continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 ITEM NUMBER DESCRIPTION AMOUNT 1 Myers Funeral Home, Inc. - Funeral Expenses 6.897.50 Subtotal 6.897.50 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-A (Rev. 6-98) Rov-1602 EX+ (6-98) . SCHEDULE H-B1 PERSONAL REPRESENTATIVE'S COMMISSIONS continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 ITEM NUMBER DESCRIPTION AMOUNT 1 Judy M. Wood - Administratrix Commission 1.867.50 2 Kathy L. Smith - Administratrix Commission 1.867.50 Subtotal 3.735.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-B1 (Rev. 6-98) Rev-1602 EX. (6-98) *' SCHEDULE H-B2 ATTORNEY'S FEES continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 ESTATE OF ITEM NUMBER DESCRIPTION AMOUNT 1 Johnson Duffie Stewart & Weidner 3.735.00 Subtotal 3.735.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-B2 (Rev. 6-98) Rev-1602 EX+ (6-BS) *' SCHEDULE H-B4 PROBATE FEES continued COMMONWEAlTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 ITEM NUMBER DESCRIPTION AMOUNT 1 Cumberland County - Register of Wills Office - Probate Fees 125.00 Subtotal 125.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-B4 (Rev. 6-98) Rev-1602 EX+ (6-98) SCHEDULE H-B7 OTHER ADMINISTRATIVE COSTS continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 ITEM NUMBER DESCRIPTION AMOUNT 1 Cumberland County - Register of Wills Office - Filing Fees for Inheritance Tax Return ($15.00) and Inventory ($15.00) 30.00 2 L.G. Conner Real Estate Appraisals 312.12 3 The Cumberland Law Journal - Notice of Estate Administration 75.00 4 The Patriot News - Notice of Estate Administration 151.59 Subtotal 568.71 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-B7 (Rev. 6-98) Rev-1612 EX+ (6.98) *' SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 Include unrelmbursed medlcll expenses. ITEM NUMBER DESCRIPTION 1 Associated Cardiologists - Account No. 214808 VALUE AT DATE OF DEATH 150.00 2 Checks written for benefit of estate 480.32 3 Cingular Wireless - Account No. 34489332-001-40 149.40 4 Citizens Bank - Loan Balance. Account No. 002 184.47 5 Citizens Bank - Mortgage Account No. 49,258.76 6 Com cast Cable Television - Account No. 09547219608-01-0 29.16 7 Engle Publishing - Advertising costs prior to Death 746.14 8 Fulton Bank Check Credit Account - No. 0563083490 201.35 9 George K. Shahinian 1,400.00 10 MBNA America - Account No. 4313040501822712. Credit Card Account 3,710.37 11 MBNA America - Account No. 6011002950624999. Credit Card Account 2,307.02 12 Moffet Heart Assoc. - Account No. 0001 4,405.00 13 Pennsylvania American Water - Account No. 24-0640902-5 161.30 14 Pennsylvania Power & Light - Account No. 31660-78005 172.22 15 Postmark Federal Credit Union - Visa Account No. 4184920000019397 3,226.19 16 Settlement Charges - for property that sold on September 2,2005. A copy of the settlement sheet is attached 2,526.95 17 UGI - Account No. 218719532002 877.71 Total of Continuation Schedule(s) See attached page TOTAL (Also enter on Line 10, Recapitulation) 70,096.67 (If more space is needed. additional pages of the same size) Copyright (c) 2002 form software only The Lackner Group. Inc. Form PA-1500 Schedule I (Rev. 6-98) Rov-1512 EX+ (6-98) . SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS continued COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHWARTZ, Donald H. FILE NUMBER 21-2005-402 ITEM NUMBER 18 DESCRIPTION XO Communications - Account No. 001000000070277 VALUE AT DATE OF DEATH 110.31 TOTAL (Also enter on Line 10, Recapitulation) 70.096.67 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule I (Rev. 6-98) REV.1613 EX+ (9..00) . SCHEDULE J COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER SCHWARTZ, Donald H. 21-2005-402 NAME AND ADDRESS OF RELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE NUMBER PERSON(S) RECEIVING PROPERTY DECEDENT (Words) ($$$) 00 Not List Trustee(s) I. TAXABLE DISTRIBUTIONS [include outright sfrousal distributions, and ransfers under Sec. 9116(a)(1.2)] 1 Kathy L Smith Daughter 40 West Baltimore Street Carlisle, PA 17013 2 Judy M Wood Daughter 305 Georgetown Road Mechanicsburg, PA 17050 Total 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 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET 0.00 Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule J (Rev. 6-98) LISTING OF EXHIBITS FOR ESTATE OF DONALD H. SCHWARTZ EXHIBIT A Settlement Sheet for ale of property located at 25 Sussex Road, Lower Allen Township, Camp Hill, Pennsylvania :262951 - L. SETTLEMENT CHARGES Case # 1214 Paid From Paid From 700. Total Sales Commission based on Price: $ % Borrower's Seller'. Division of Commission at: $ Total Funds At Funds At 70L Sell/ement Settlement 702. 703. Commission paid at Settlement I I 704. I I 800. Items Payable In Connection With Loan 801. Loan Origination Fee 802. Loan Discount 803. Appraisal Fee to 804. Credit Report to 805. Inspection Fee to 806. Flood Certification Fee 807. Document Preparation Fee 808. 809. 810. 811. 900. Items Required By Lender To Be Paid In Advance 90L Interest from 0.0000 IDay 902. Mortgage Ins. Premium 0 Months to 903. Hazard Ins. Premium 0 Years to 904. 0 Years to 905. 0 Years to 1000. Reserves Deposited With Lender For 1001. Hazard Insurance 0 Months @ $ IMonth 1002. Mortgage Insurance 0 Months @ $ IMonth 1003. CitylTown Taxes 0 Months @ $ IMonth 1004. County Taxes 0 Months @ $ 43.99 /Month 1005. Assessments 0 Months @ $ IMonth 1006. School Taxes 0 Months @ $ 87.37 IMonth 1007. 0 Months @ $ /Month 1008. 0 Months @ $ 87.37 /Month 1100. Tille Charges 1101. Settlement or closing fee 1102. Abstract or tille search 1103. Title Examination 1104. Title Insurance Binder 1105. Document preparation Johnson Duffie 858.00 1106. Notary fees 1107. Attorney's fees (includes above items No :) 1108. Tille Insurance Assured Land Transfers - (includes above items No :) 1109. Lender's coverage $ 1110. Owner's coverage $ 1111. 1112. I 1113. I 1200. Government Recording and Transfer Charges 1201. Recording Fees: Deed $ 39.50 Mortgage $ Release $ 39.50 1202. City/County tax/stamps: Deed $ 705.00 Mortgage $ 705.00 1203. State tax/stamps: Deed $ 705.00 Mortgage $ 705.00 1204. Recorder of Deeds 1205. 1300. Additional Settlement Charges 1301. 2005 County and 2005/2006 School District Taxes to Bonnie Miller, Tax Collector 1,576.17 1302. Delinquent Sewer/Refuse to Lower Allen Township Authority 245.78 1303. 1304. 1305. 1400. Total Settlement Charges (enter on lines 103 & 502, Sections J & K) 1,602.50 2,526.95 Parties agree that no liability is assumed by Settlement Agent for the accuracy of information furnished by others as shown on the HU0-1 Settlement Statement. HUD CERTIFICATION OF BUYERS AND SELLERS I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account by me in this transaction. I further certify that I have received a copy of the HUD-1 Settlement Statement. Exchangor: Est e of Dona . art Perms Ivan' Pro rties B Seller's New Address & Phone: The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed In accordance with this smt~~// ' ~ement Agent /~ a? .l.."CJ S Date ' U.S. DEPARTMENT OF HOUSING and URBAN Ut::Vt::LU~IVlt:" 1 SETILEMENT STATEMENT Titlepro for Windows ™ JOHNSON, DUFFIE, STEWART, WEIDNER B. TYPE OF LOAN 301 Market Street ol.FHA o 2. FMHA 03. CONV.UNINS. Lemoyne, PA 17043 04.VA o 5. CONV. INS. (717) 761-4540 6. FILE NUMBER: r LOAN NUMBER: 1214 MORT. INS. CASE NO.: 5279-1 C. NOTE: This form is furnished to 9ive you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p.o.c.)" were paid outside the closing; they are shown here for information purposes and are not included in the totals. D. NAME AND ADDRESS OF E. NAME AND ADDRESS OF SELLER: F. NAME AND ADDRESS OF LENDER Herbert C. Moore and Richard W. Moore, Estate of Donald H. Schwartz CASH SALE Co-Partners, tla Pennsylvania Properties, Exchangor G. PROPERTY LOCATION: H. SETILEMENT AGENT: Assured Land Transfers I. SETILEMENT DATE: 25 Sussex Road, Lower Allen Township Sep 02 2005 Friday Camp Hill, PA 17011 PLACE OF SETILEMENT: 301 Market Street, Lemoyne, PA 09:00 AM J. SUMMARY OF BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION 100. Gross Amount Due From Borrower 400. Gross Amount Due to Seiter 101. Contract sales price 70,500.00 401. Contract sales price 70,500.00 102. Personal Property 402. Personal Property 103. Settlement Charges (line 1400) 1,602.50 403. 104. 404. 105. 405. Adjustments for items paid in advance by selter(s) Adjustments for ttems paid In advance by seller(s) 106. Cityrr own tax 406. Cityrrown tax 107. County/City tax 09/02/05 to 12/31/05 173.53 407. County/City tax 09/02/05 to 12/31/05 173.53 108. Assessments 408. Assessments 109. School Tax 09/02/05 to 06/30/06 864.52 409. School Tax 09/02105 to 06/30/06 864.52 110. 410. 111. Sewer/Refuse 09/02/05 to 09130/05 24.15 411. Sewer/Refuse 09/02105 to 09/30/05 24.15 112. 412. 120. Gross Amount Due from Borrower 73,164.70 420. Gross Amount Due to Seller 71,562.20 200. Amounts Paid By Or In Behalf Of Borrower 500. Reductions In Amount Due To Salter 201. Deposit or earnest money 501. Excess deposit (see instructions) 202. Principal Amount of new loan(s) 502. Settlement charges to seller (line 1400) 2,526.95 203. Existing loan(s) taken subjeclto 503. Exlstin9 loan(s) taken subject to 204. 504. Payoff of First Mortgage Loan Citizens Bank 49,258.76 205. 505. Payoff of Second Mortgage Loan 06. Proceeds - Salem Church Road (Purchase Price) 70,500.00 506. Proceeds _ Salem Church Road (Purchase Price) 70,500.00 207. Proceeds _ Salem Church Road (Closing Costs) 2,664.70 507. 208. 508. 209. 509. Adjustments for items unpaid by seller Adjustments for items unpaid by seller 210. Cityrrown tax 510. Cityrrown tax 211. County/City tax 511. County/City tax 212. Assessments 512. Assessments 213. School Tax 513. School Tax 214. 514. 215. 515. 216. 516. 217. 517. 218. . 518. 219. 519. 220. Total Paid By/For Borrower 73,164.70 520. T olal Reduction Amount Due Seller 122,285.7 300. CASH AT SETILEMENT Fromrro BORROWER 600. CASH AT SETILEMENT ToJFrom SELLER 301. Gross Am\. due from borrower (line 120) 73,164.70 601. Gross Amount due Seller (line 420) 71,562.2 302. Less Am\. paid by/for borrower (line 220) 73,164.70 602. Less reduction In Am\.due Seller (line 520) 122,285.7 303. Cash t8J FROM oTO Borrower 0.00 603. Cash 0 TO t8J FROM Seiter 50,723.! * All references herein to "Borrower" shall mean "Exchangor"