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HomeMy WebLinkAbout05-19-06 REV-l500 EX (6-00) OFFICIAl.. USE ONLY COMMONWEAL TH OF PENNSYLVANIA DEPARTMENT OF REVENUE DEPT. 280601 HARRISBURG, PA 17128-0601 REV -1500 INHERITANCE TAX RETURN RESIDENT DECEDENT FILE NUMBER ~L COUNTY CODE ~L 0017 ___ YEAR NUMBER .... Z W C w o w C DECEDENTS NAME (LAST, FIRST, AND MIDDLE INITIAL) Ratcliff H. Chalfant DATE OF DEATH (MM-DD-YEAR) DATE OF BIRTH (MM-DD-YEAR) 12/15/2005 5/9/1909 (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURITY NUMBER 172-24-8334 THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS SOCIAL SECURllY NUMBER w ... ~~U) u a:~ w a.u :z:~ u a.m a. <( [i] 1. Original Return D 4. Limited Estate [i] 6. Decedent Died Testate (Attach copy of Will) D 9. Litigation Proceeds Received D 2. Supplemental Return D 3. Remainder Return (date of death prior to 12-13-82) D 4a. Future Interest Compromise (date of death after 12-12-82) D 5. Federal Estate Tax Return Required D 7. Decedent Maintained a Living Trust (Attach copy of Trust) L 8. Total Number of Safe Deposit Boxes D 10. Spousal Poverty Credit (dale of dealh belween 12-31.91 and 1-1-95) D 11. Election to tax under Sec. 9113(A)(AllachSchO) THISECTION MUST ~ COMPLETED. ALL CORRESPONDENCE AND CONFIDE NAME COMPLETE MAILING ADDRESS I- Z W C Z o a. fI) w a:: a:: o () Stanle A. Smith, Es ire FIRM NAME (If Applicable) Rhoads & Sinon LLP TELEPHONE NUMBER 717-233-5731 PO Box 1146 Harrisburg PA 17108-1146 1. Real Estate (Schedule A) (1 ) r--,> .2 OFFICIAl.. USE oN'i} c...~' 3. Closely Held Corporation, Partnership or Sole-Proprietorship (3) ~..< 2. Stocks and Bonds (Schedule B) (2) 4. Mortgages & Notes Receivable (Schedule D) 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) \....,.:) (4) (5) z o t= :3 ::::) .... a:: c( o w It: 6. J~ Owned Property (Schedule F) LJ Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7) (Schedule G or L) C'.) (6) w 0.00 8. Total Gross Assets (total Lines 1-7) (8) 34,519.45 1,324,492.36 9. Funeral Expenses & Administrative Costs (Schedule H) (9) 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10) 2,232.67 11. Total Deductions (total Lines 9 & 10) (11 ) 36,752.12 12. Net Value of Estate (Line 8 minus Line 11) 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) (12) 1,287,740.24 (13) 0.00 14. Net Value Subject to Tax (Line 12 minus Line 13) SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES (14) 1,287,740.24 15. Amount of Line 14 taxable at the spousal tax 0.00 L(15) z rate, or transfers under Sec. 9116 (a)(1.2) x.O 0 j:: 16. Amount of Line 14 taxable at lineal rate 1,287,740.24 X.O 45 (16) <( ... ;:) 0.00 a. 17. Amou nt of line 14 taxable at sibling rate x .12 (17) ~ 0 0.00 U 18. Amou nt of line 14 taxable at collateral rate x .15 (18) >< <( 19. Tax Due ... (19) 0.00 57,948.31 0.00 0.00 57,948.31 20. D CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT > > BESURE 3W46451.000 ~ .,:}-o69", ..6 5>~ ~ b 0" ::; ~Po~ (;) " </, .-$' ~- ~ -:;-..::;:::;---- -- Decedent's Complete Address: SlREET ADDRESS 1139 Country Club Road Cumberland CllY I STATE I ZIP Camp Hill PA 17011- Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount (1) 57,948.31 0.00 50.000.00 2,631.58 Total Credits (A + B + C) (2) 52,631.58 3. InteresUPenalty if applicable D. Interest E. Penalty 0.00 0.00 TotallnteresUPenalty (D + E) (3) 0.00 4. If Line 2 is greater than line 1 + line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund (4) 0.00 5. If Line 1 + line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 5,316.73 A. Enter the interest on the tax due. (SA) 0.00 B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. Make Check Pa able to: REGISTER OF WlUS, AGENT (5B) 5,316.73 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 [Jg b. retain the right to designate who shall use the property transferred or its income; . D [Jg 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? . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0 [Jg 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? 0 []I 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0 [j IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE rr AS PART OF THE RETURN. Harrisburg PA 17108-1146 DATE Rhoads & Sinon LLP -be. Harrisburg PA 17108-1146 For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value oftransfers to or for the use of the surviving spouse is 3% [72 P.S. S 9916 (a) (1.1) (i)). For dates of death on or after January 1. 1995, the tax rate imposed on the net value oftransfers to or for the use of the surviving spouse is 0% [72 P.S. S 9116 (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 stDl 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 ofthe chHd is 0% [72 P.S. S 9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use ofthe decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. S 9116(1.2) [72 P.S. S 9116(a)(1 )]. The tax rate imposed on the net value of transfers to or for the use ofthe decedenfs siblings is 12% (72 P.S. S 9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. 3W4646 1.000 COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE REV-1502 EX + (6-98) ESTATE OF FILE NUMBER H. Chalfant Ratcliff 21 06 0017 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge ofthe relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH Real estate situate at 1139 Country Club Road, Camp Hill PA valued per attached settlement sheet 248,360.33 3W46951.000 TOTAL (Also enter on line 1, Recapitulation) (If more space is needed, insert additional sheets of the same size) $ 248,360.33 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule B (Page 3) Item No. Description Value at Date of Death 16 50,000 Par FHLMC REMIC SERIES 2921 Mat: 08/15/2034 5.000% Fact: 0.64702646 Financial Times Interactive Data CUSIP: 31395LT68 Interest accrued to 12/15/2005 31,524.75 62.77 17 50,000 Par FHLMC REMIC SERIES 2960 Mat: 08/15/2034 5.500% Fact: 0.58024604 Financial Times Interactive Data CUSIP: 31395RCN6 Interest accrued to 12/15/2005 28,816.47 61.95 18 15,000 Par FNMA PASS-THRU INT 15 YEAR Mat: 01/01/2009 7.000% Fact: 0.05050226 Pinancial Times Interactive Data CUSIP: 31372BKN9 Interest accrued to 12/15/2005 799.80 6.60 19 25,000 Par FNKA PASS-THRU LNG 30 YEAR Mat: 11/01/2008 8.750% Fact: 0.00381544 Financial Times Interactive Data CUSIP: 3136286P9 Interest accrued to 12/15/2005 102.00 1.04 20 300 Shares FORDING CDN COAL TR TR UNIT CUSIP: 345425102 11,826.00 21 400 Shares FPL GROUP INC COM CUSIP: 302571104 17,180.00 22 947 Shares FULTON FINL CORP PA COM CUSIP: 360271100 16,482.54 23 45,000 Par GNMA PASS-THRU M SINGLE FAMILY Mat: 04/20/2024 7.000% Fact: 0.04243176 Financial Times Interactive Data CUSIP: 36202BZU2 Interest accrued to 12/15/2005 2,055.94 16.66 Total (Carry forward to main schedule) 108,936.52 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule B (Page 6) Item No. Description Value at Date of Death 36 25,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 02/15/2024 7.000% Fact: 0.04980128 Financial Times Interactive Data CUSIP: 36204THA5 Interest accrued to 12/15/2005 1,312.01 3.39 37 25,000 Par GNMA PASS-THRU X SINGLE PAMILY Kat: 04/15/2024 7.500% Fact: 0.07453292 Financial Times Interactive Data CUSIP: 36205JSW6 Interest accrued to 12/15/2005 1,972.42 5.43 38 25,000 Par GNMA PASS-THRU X SINGLE FAMILY Kat: 07/15/2024 8.000% Fact: 0.0481389 Financial Times Interactive Data CUSIP: 36205H5Q8 Interest accrued to 12/15/2005 1,288.60 3.74 39 100,000 Par GNMA PASS-THRU X SINGLE FAMILY Kat: 05/15/2022 7.500% Pact: 0.0281153 Financial Times Interactive Data CUSIP: 36224DET8 Interest accrued to 12/15/2005 2,982.93 8.20 40 30,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 12/15/2007 8.000% Fact: 0.00771309 Financial Times Interactive Data CUSIP: 362049X94 Interest accrued to 12/15/2005 236.76 0.72 41 25,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 12/15/2008 9.000% Fact: 0.01680989 Financial Times Interactive Data CUSIP: 362057VT5 Interest accrued to 12/15/2005 438.93 1.47 Total (Carry forward to main schedule) 8,254.60 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule B (Page 8) Item. No. Description Value at Date of Death 48 30,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 10/15/2017 7.000% Fact: 0.13045395 Financial Times Interactive Data CUSIP: 36218FST6 Interest accrued to 12/15/2005 4,116.84 10.65 49 25,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 05/15/2026 7.500% Fact: 0.20218815 Financial Times Interactive Data CUSIP: 36207BFGO Interest accrued to 12/15/2005 5,337.86 14.74 50 25,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 10/15/2025 7.500% Fact: 0.02450877 Financial Times Interactive Data CUSIP: 36205DB64 Interest accrued to 12/15/2005 647.65 1.79 51 50,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 12/15/2019 9.000% Fact: 0.0035347 Financial Times Interactive Data CUSIP: 36217TCS6 Interest accrued to 12/15/2005 192.57 0.62 52 30,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 07/15/2008 8.500% Fact: 0.00595027 Financial Times Interactive Data CUSIP: 362054PD4 Interest accrued to 12/15/2005 185.50 0.59 53 50,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 12/15/2027 7.000% Fact: 0.04996551 Financial Times Interactive Data CUSIP: 36208MZ24 Interest accrued to 12/15/2005 2,629.48 6.80 Total (Carry forward to main schedule) 13,145.09 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule B (Page 9) Item No. Description Value at Date of Death 54 25,000 Par GNMA PASS-THRU X SINGLE FAMILY Mat: 04/15/2029 6.500% Fact: 0.06721187 Financial Times Interactive Data CUSIP: 36210UAK9 Interest accrued to 12/15/2005 1,757.14 4.25 55 55,000 Par GNMA RENIC TRUST 2004-27 Mat: 04/20/2034 5.500% Fact: 0.88440722 Financial Times Interactive Data CUSIP: 38374GFW7 Interest accrued to 12/15/2005 47,687.55 104.21 56 34,000 Par GNMA RENIC TRUST 2004-80 Mat: 07/20/2034 5.000% Fact: 1 Financial Times Interactive Data CUSIP: 38374JGJ9 Interest accrued to 12/15/2005 32,066.76 66.25 57 300 Shares GREAT PLAINS ENERGY INC COM CUSIP: 391164100 Dividend accrued on 12/15/2005 8,721.00 124.50 58 10,000 Par LACltAWANNA CNTY PA G.O BDS Mat: 10/01/2019 5.1% Financial Times Interactive Data CUSIP: 505480VR1 Interest accrued to 12/15/2005 10,558.30 104.83 59 20,000 Par LANCASTER CNTY PA SOLID WASTE REV BDS Mat: 12/15/2014 5% Financial Times Interactive Data CUSIP: 514057BX5 20,838.60 60 15,000 Par LANCASTER PA G.O. BDS Mat: 05/01/2028 4.5% Financial Times Interactive Data CUSIP: 514282KP6 Interest accrued to 12/15/2005 14,894.70 82.50 Total (Carry forward to main schedule) 137,010.59 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule B (Page 10) Item No. Description Value at Date of Death 61 5 , 000 Par LOYAL SOCK TWP PA SCH DIST G.O BDS Mat: 11/01/2017 4.3% Financial Times Interactive Data CUSIP: 549050DU3 Interest accrued to 12/15/2005 5,088.80 26.28 62 200 Shares MERCK &: CO INC COM CUSIP: 589331107 Dividend accrued on 12/15/2005 5,970.00 76.00 63 20,000 Par MONTGOMERY CNTY PA HIGHER ED &: HOSP REV Mat: 06/01/2018 4.875% Financial Times Interactive Data CUSIP: 613604TN7 Interest accrued to 12/15/2005 20,481.60 37.92 64 10,000 Par MUHLENBERG PA SCH DIST G.O. BDS Mat: 04/01/2017 5.2% Financial Times Interactive Data CUSIP: 624805GZ4 Interest accrued to 12/15/2005 10,046.40 106.89 65 10,000 Par NANTY-GLO PA SAN SWR AUTH REV GTD SWR R Mat: 09/01/2006 3% Financial Times Interactive Data CUSIP: 630200BN2 Interest accrued to 12/15/2005 9,992.20 86.67 66 100 Shares NATURAL RESOURCE PARTNERS L P COM UNIT L P New York Stock Exchange CUSIP: 63900P103 5,436.00 67 200 Shares OGE ENERGY CORP COM CUSIP: 670837103 5,386.00 68 100 Shares PENN VA RESOURCES PARTNERS LP COM New York Stock Exchange CUSIP: 707884102 5,410.00 Total (Carry forward to main schedule) 68,144.76 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule B (Page 11) Item No. Description Value at Date of Death 69 25,000 Par PENNSYLVANIA ST GO BDS Mat: 01/01/2022 4.75% Financial Times Interactive Data CUSIP: 709141ZQ1 Interest accrued to 12/15/2005 25,676.00 540.97 70 25,000 Par PENNSYLVANIA ST HIGHER EDL FAC REV BDS Mat: 08/01/2029 5% Financial Times Interactive Data CUSIP: 70917NDU5 Interest accrued to 12/15/2005 25,955.00 465.28 71 1.0,000 Par PENNSYLVANIA ST HIGHER EDL FAC REV BDS Mat: 06/15/2024 5% Financial Times Interactive Data CUSIP: 70917NGC2 10,404.90 72 10,000 Par PENNSYLVANIA ST TPK COMMN TPK TURNPIKE Mat: 12/01/2021 5% Financial Times Interactive Data CUSIP: 709223NK3 Interest accrued to 12/15/2005 10,522.00 19.44 73 20,000 Par PHILADELPHIA PA GAS WKS REV REV BDS Mat: 07/01/2018 5% Financial Times Interactive Data CUSIP: 717823VA3 Interest accrued to 12/15/2005 20,491.00 455.56 74 10,000 Par PHILADELPHIA PA SCH DIST G.O. BDS Mat: 04/01/2023 4.5% Financial Times Interactive Data CUSIP: 717880Z35 Interest accrued to 12/15/2005 1.0,035.70 92.50 75 5,000 Par PITTSBURGH PA WTR & SWR AUTH W REV BDS Mat: 09/01/2025 5.05% Financial Times Interactive Data CUSIP: 725304JWO Interest accrued to 12/15/2005 5,1.1.8.60 72.94 Total (Carry forward to main schedule) 1.09,849.89 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule B (Page 12) Item No. Description Value at Date of Death 76 300 Shares PLUM CREEK TIMBER CO INC COM CUSIP: 729251108 11,227.50 77 20,500 Par Series HH Bonds 20,500.00 78 400 Shares SOURCE CAP INC COM CUSIP: 836144105 28,980.00 79 5,000 Par SWARTHMORE BORO AUTH PA COLLEG REV BDS Mat: 09/15/2012 5% Financial Times Interactive Data CUSIP: 870000FA9 Interest accrued to 12/15/2005 5,381.05 62.50 80 200 Shares TYCO INTL LTD NEW COM CUSIP: 902124106 5,663.00 81 150,000 Par UNITED STATES TREAS NTS Mat: 07/15/2012 3% Government/Agency (Dealer Quotations) CUSIP: 912828AF7 Interest accrued to 12/15/2005 158,437.50 1,870.92 82 30,000 Par UNITED STATES TREASURY BD Mat: 04/15/2028 3.625% OTC CUSIP: 912810FD5 Interest accrued to 12/15/2005 37,913.70 1.82.25 83 50,000 Par UNITED STATES TREASURY NT Mat: 05/15/2009 5.5% OTC CUSIP: 9128275G3 Interest accrued to 12/1.5/2005 51,773.50 227.90 Total (Carry forward to main schedule) 322,219.82 REV-1508 EX + (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF H. Chalfant Ratcliff FILE NUMBER 2106 0017 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1 Janney Montgomery Scott money market account # HB23 6857-8075 67,840.26 2 PNC Bank checking account #5140051419 owned by decedent valued per bank letter 8,070.52 3 Refund from Comcast Cable 56.98 4 Refund from Wall Street Journal subscription 186.51 5 Refund of homeowner's insurance 111. 00 6 Tangible personal property valued per attached appraisal 6,889.00 7 Wachovia Bank checking account #1010110808961 owned by decedent valued per bank letter Interest accrued to 12/15/2005 13,027.40 1.39 3W46AD 1.000 TOTAL (Also enter on line 5 Recaoitulationl $ (If more space is needed. insert additional sheets ofthe same size) 96,183.06 REV-1511 EX + (12-99) SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF H. Chalfant Ratcliff ITEM NUMBER A. B. 3W46AG 1,000 Debts of decedent must be reported on Schedule I. DESCRIPTION FUNERAL EXPENSES: 1. Myers Funeral Home Total from continuation schedules . . . . . . . . . 1. ADMINISTRATNE COSTS: Personal Representative's Commissions Name of Personal Representative(s) Social Security Number(s) I EIN Number of Personal Representative(s) Street Address City State Zip Year(s) Commission Paid: 2. Attorney Fees 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 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. 1 Hobbie Auctions Appraisal of tangible personal property 2 PA American Water Company Total from continuation schedules FILE NUMBER 2106 0017 TOTAL (Also enter on line 9, Recapitulation) (If more space is needed, insert additional sheets of the same size) $ AMOUNT 2,823.50 2,250.52 26,500.00 867.00 375.00 16.60 1,686.83 34,519.45 Estate of: H. Chalfant Ratcliff Item No. 2 3 Description Pealer's Flowers Flowers for funeral West Shore Country Club Funeral reception 172-24-8334 Schedule H Part 1 (Page 2) Amount 882.82 1,367.70 Total (Carry forward to main schedule) 2,250.52 Estate of: H. Chalfant Ratcliff 172-24-8334 Schedule H Part 7 (Page 2) 3 PA American Water Company Final bill 12.63 4 PP&:L 101.06 5 PP&:L Final bill 39.39 6 PP&:L Final bill 47.14 7 RESERVES: Rhoads &: Sinon LLP Out of pocket expenses to include: Legal advertising - $223.22 Court fees - $4.00 Telephone - $1.84 Federal Express - $37.35 Postage - $35.67 Copies - $68.85 Fax - $9.00 Misc - $250.00 629.93 8 RSR Appraisers Real estate appraisal 350.00 9 Souder Tax Service 2005 Tax prep fee 150.00 10 Townes of Floribunda 1st quarter association fees 165.00 11 UG~ 159.98 12 Verizon Telephone expense 31.70 Total (Carry forward to main schedule) 1,686.83 REV-1512 EX + (12-03) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF H. Chalfant Ratcliff SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS FILE NUMBER 21 06 0017 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1. cumberland Apothecary prescriptions 1.2.78 2 East pennsboro Township Quarterly sewer/trash 11.5.00 3 Ehrlich Pest prevention plan 1.34.62 4 S McIntire Home caregiver expense 1.05.00 5 PA ~erican Water Company 56.46 6 PA Department of Revenue 2005 State income tax 866.00 7 Patriot News balance of terminated subscription 5.35 8 PP&L 229.22 9 Special Care Home care commissions 300.00 1.0 UGI 375.85 1.1. Verizon 32.39 3W46AH 2.000 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 2,232.67 REV-1513 EX+ (9-00) SCHEDULE J BENEFICIARIES COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF H. Chalfant Ratcliff NUMBER I 1 NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)) C Michael Ratcliff 38 Sunfire Avenue Camp Hill, PA 17011 50% of Residue: 643,870.12 2 Hugh C. Ratcliff 329 S. Lee Street Alexandria, VA 22314 50% of Residue: 643,870.12 RELATIONSHIP TO DECEDENT Do Not List Trustee(s) FILE NUMBER 2106 0017 AMOUNT OR SHARE OF ESTATE Son Son 643,870.12 643,870.12 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 3W46A11.000 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET (If more space is needed, insert additional sheets of the same size) $ 0.00 ESTATE OF H. CHALF ANT RATCLIFF SSN: 172-24-8334 DaD: December 15,2005 PENNSYLVANIA INHERITANCE TAX RETURN INDEX TO EXHffiITS Document 1. Last Will and Testament 2. Settlement Sheet, 1139 Country Club Rd, Mechanicsburg, PA 3. Valuation of Janney Montgomery Scott securities 4. PNC Bank Letter 5. Appraisal of tangible personal property 6. Wachovia Bank Letter .1 Return Reference Page I Schedule A, Item 1 Schedule B Schedule E, Item 2 Schedule E, Item 6 Schedule E, Item 7 LAST WILL AND TESTAMENT Ql: H. CHALFANT RATCLIFF I, H. CHALFANT RATCLIFF, of Camp Bill, cumberland County, Pennsylvania, being of sound and disposing mind and memory, do make, publish and declare this to be ~y Last will "and Testament, hereby revoking all Wills and Codicils by me at any time previously made. ITEM I: All inheritance, estate and similar taxes becoming due by reason of my death ("Death Taxes"), whether such Death Taxes shall be payable by my estate or by any recipient of any property, shall be paid by my Executor out of the property passing under ITEM IV of this Will as an expense and cost of administration of my estate. My Executor shall have no duty or obligation to obtain reimbursement for any Death Taxes paid by my Executor, even though paid with respect to proceeds of insurance or other property not passing under this Will. ITEM II: I hereby exercise all powers of appointment which I may have at the time of my death in favor of my Executor, and all property subject to all such powers of appointment shall be included in my estate and be governed by the provisions of this Will. Page 1 of 6 pages ... t ~. , f,'j ~ : ..' ~ ~ I ." ~ ) JI," 1)1,,, . 11{) ~ ~ ITEM III: i give and bequeath all of my household furniture and furnishings, automobiles, books, pictures, jewelry, china, crystal, appliances, silverware, wearing apparel and all other like articles of household or personal use or adornment to my wife, MARTHA C. RATCLIFF ("My Wife"), if she .survives me. If My Wife does not survive me, I give such articles to my issue living at my death, per stirpes, in as nearly equal shares as they shall select under the supervision of my Executor. If any such articles cannot be fairly divided or distributed in kind in the opinion of my Executor, such articles shall be sold and the proceeds thereof shall pass as a part of my residuary estate., ITEM IV: I give, devise and bequeath all the rest and residue of my property, real~ personal and mixed, not disposed of in the preceding portions of this Will, to My Wife, if she survives me: or, if she does not survive me, to my issue living at my death, per stirpes. ITEM V: No interest in income or principal of my estate shall be subject to attachment, levy or seizure by any creditor, spouse, assignee or trustee or receiver in bankruptcy of any beneficiary of my estate prior to the beneficiary's actual receipt thereof. My Executor shall pay over the net income and the principal to the beneficiaries herein Page 2 of 6 pages ..,-"..,...~~,::",,:l"~_~~;~ designated, as their interests may appear, without regard to any attempted anticipation (except as may be specifically provided herein), pledging or assignment by any beneficiary of my estate and without regard to any claim thereto or attempted levy, attachment, seizure or other process against said beneficiary. ITEM VI: Any person, who shall have died at the same time as I or under such circumstances that it is difficult or impossible to determine who shall have died first, shall be deemed to have predeceased me. ITEM VII: In the settlement of my estate, my Executor sha~l possess, among others, the following powers to be exercised for the best interests of the beneficiaries: (a) To retain any investments I may have at my death so long as my Executor may deem it advisable to my estate so to do. Cb) To vary investments, when deemed desirable by my Executor, and to invest in such bonds, stocks, notes, real estate mortgages or other securities or in such other real or personal property as my Executor shall deem wise, without being restricted to so-called "legal investments. ,. (c) In order to effect a division of the principal of my estate or for any other purpose, including any final distribution of my estate, my Executor is authorized to make said divisions or distributions of the personalty and realty partly or wholly in kind. If such division or distribution is made in kind, said assets shall be divided or distributed at their respective values on the date or dates of their division or distribution. In making any division or distribution in kind, my Executor shall Page 3 of 6 pages ~~~:~-;;,!-"~~ divide or distribute said assets in a manner which will fairly allocate any unrealized appreciation among the beneficiaries. Cd) To sell either at public or private sale and upon such terms and conditions as my Executor may deem advantageous to my estate, any or all real or personal estate or interest therein owned by my estate severally or in conjunction with other persons or acquired after my death by my Executor, and to consummate said sale or 'sales by sufficient deeds or other instruments to the purchaser or purchasers, conveying a fee simple title, free and clear of all trust and without obligation or liability of the purchaser or purchasers to see to the application of the purchase money or to make inquiry into the validity of said sale or sales: also, to make, execute, acknowledge and deliver any and all deeds, assiqnments, options or other writings which may be necessary or desirable in carrying out any of the powers conferred upon my Executor in this paragraph or elsewhere in this Will. (e) To mortgage real estate and to make leases of real estate for any term. (f) To borrow money from any party, including my Executor, to pay indebtedness of mine or of my estate, expenses of administration, Death Taxes or other taxes. (9) To pay all costs, Death Taxes or other taxes, expenses and charges in connection with the administra- tion of my estate, and my Executor shall pay the expenses of my last illness and funeral expenses. (h) To vote any shares of stock which form a.part of my estate and to otherwise exercise all the powers incident to the ownership of such stock and to actively manage and operate any unincorporated business, including any joint ventures and partnerships, with all the rights and powers of any owner thereof. (i) In the discretion of my Executor to unite with any other owners of similar property in carrying out any plans for the reorganization of any corporation or company whose securities form a part of my estate. Page 4 of 6 pages ....... ........ .........kC;.,<:"."~.. .A.' . -,X"r."<< . .'" :', !-..;. ~ .~^ ,~.,.,,~..~.~~~~.';~ (j) To assign to and hold in my estate an undivided portion of any asset. (k) To hold investments in the name of a nominee. (1) To compromise controversies. ITEM VIII: If at any time any minor shall be entitled to receive any assets free of trust hereunder, I give such minor's share to my surviving son, as CUstodian for such minor under the Pennsylvania Uniform Gifts to Minors Act; or, if neither of my sons is then living, to the minor's survivin9"natura~ parent, as such CUstodian for the minor. ITEM IX: I hereby appoint My Wife as Executrix of this Will. If for any reason she should fail or cease to act, I appoint my son, C. MICHAEL RATCLIFF, as Executor. If for any reason my son, C. Michael Ratcliff, should fail or cease to act, I appoint my son, H. CHALFANT RATCLIFF, JR., as Executor. All references in this Will to my "Executor" shall refer to my Executrix or to my successor Executor, as the case may be. My Executor shall qualify and serve without the duty or obligation of filing any bond or other security. If either of my sons serves as Executor, he shall serve without compensation. IN WITNESS WHEREOF, I have set my hand and seal to this, my Last Will and Testament, consisting of this and the Page 5 of 6 pages We, the undersigned, hereby certify that the foregoing Will was signed, sealed, published and declared by the above-named Testator as and for his Last will and Testament, in the presence of us, who, at his request and in his presence and in the presence of each other, have hereunto set our hands and seals the day and year above written, and we certify that at the time of the... .xecut. ri'. "....n ~of, the said Testator was of sound and dirosinr f. : '" ~ n ,emory. i' f '. ., '\ I ; l I (SEAL) \ " ""'" - .' .. preceding five (5) pages, this / 1989. Page 6 of 6 pages (SEAL) ~._ ,,:..."""...,..;"-"H; "'~'F~~~~~~f~~f~~ J L'I. //1 /),j; VVf{ ,- Residing at: '''''''''''''-'''C'''''''~.~..~!'l''' CODICIL TO TO WILL 01' - B CHALFANT RATCLIFF .1, B. CHALFANT ~CLIFI', of Cumberland Cou~ty, Pennsylvania, being of sound and disposing mind and memory, do hereby make, publish and declare this to be a Codicil to my Last Will and Testament dated June 1, 1989. I hereby delete ITEM IX of my Will and replace said ITEM with the following provision: "ITEM IX: I appoint my son C. MICHAEL RATCLIFF as Executor of my Estate." rN W7TNBSS WHEREOF, I have hereunto set my hand and seal to this Codicil to my Last Will and Testament, consisting of this page,' this Nday of({l~ ,1999. I.~--... EAL) , -; " .' ,,:" j.... . "/ 313012.1 t 1 !' ~ t~"C) .:~. ~.of " ~ '.! ~~. '. .: ;j - ~ _, .. l ,^'.hl A,t\l-" - We, the undersigned, hereby certify that the foregoing Codicil was signed, sealed, published and declared by the above- named Testator as and for his Codicil to his Last Will and Testament, in the presence of us, who, at his request and in his presence and in the presence of each other, have hereunto set our hands and seals the day and year above written, and we certify that at the time of the execution thereof, the said Testator was of sound and disposing mind and memory. ~ . /;7 ../ \ C t,f<a14/lUA l'8'Jitb- i. 9-), / ~. / ~I\M' ,(SEAL) I.. t I 1'-"" v v,' i '. 't . ' \. ( SEAL) Residing at: /;20 i r 1JG.,1. pfJ j 1"101 ~, /Ie s i d~n gat: .43 ~ S- 'dr.J..~7'\ f..-f I . 4 ) of. .. }jftA/L,W~{J,{/L? ,...,~ l! ) I / ~:J... '/' Residing at: ( SEAL) RSR REALTORS AJ-24-0S APPRAISAL OF A SINGLE FAMILY RESIDENCE L 0 CAT ION : 1139 CoUD1ry Club ROIId C8mp Hill PA . 17011 CLIENT : EstofH.C. A M.C.Ratc1ift" c/o IU10IIds A SinoD 1 South Market Square. P.O. Box 1146, HarriaI:IIq. PA 17108 AS OF DATE :~ber.17,200S APPRAISER :RSRA~&Analysts Pntperty o.crtptlon UNIFi ~ RESIDENTIAL APPRAISAL F "CRT i~:= ~=~~b=00768 CitvCanmHiIl :::\~um= 17011 ,.' PMleI No. 19-16-10S4-113 Tax V_r200s R.E. T_ S 3:~OOSDeciaI . S : EIarraiwl.r N/A r H ('.haIfJInt.t Martha c ~liff n-.~.... lawn.r x IT-m I IV8Cllnt . - I x I Fee SimDlaI ILllMAhokl ProieclTVDIl I IPUD I I CondNniftiurn IHUDNA onlvl HOAS /Mo. : Nlliahborhoad or PniIIct Nllme ,FloribWlda MIlD RefweRClllI6-IOS4--113 Cenaua Trw:t 102.02 : S8Ie Price S N/A o.te of Sale N/A 0IIcriIIIi0n IIId S ....n of _ ""--iNw tl be lIIid brt..... , ~ Est.ofH.C..t M.C.Ratc1iffrJo Rhoeds.t Add,.. I South Market SaUBre. P.O. Box 1146. Hanisbunt. PA 17108 . . . Rm ..., AUAlntt.. ArU_ 'i 11111 T _^~... It... 17n.t':! !' Lacetion f- um.n ...!.. Suburt8l1- RUI1II PredomInant ~fInIIIy ~ "-nt IIIICI_ % Land... ~ '; Built up ...!.. Over 75% _ 25-75% _ Under 25% ~PIIncy ~ ~ One fM\ily ~ WNoIIrIIy U likely , Growth '* _ Rapid _ St8bIe ...!.. Slow ..l.. Owner 99 ~ Low -=-.J 2-4 fIImHy _ DIn PRX*S Prapeny _lie ..!.. IN:nIeaing _ S1abIe _ DIIcIining ...!.. Tenant 1 350 Him! 7S Multi-fllmily _ To: , DImMIIIuppIy ..!.. ShortIIge _ In bIiInaI_ CMIr auppIy ...!.. Vacant (0.5%) eamn.rclII IS time UndIr 3 lIIOI. X 3-6 lIIOI. CMIr 611lll1. VIcInI (0lIIr 5%\ 22S 2S-4O ....: ......nd........1 compoeJtlon of the nelghbortlood .... not .ppraiul facto.... , , Neighbort\ood bowlderieB and charactllri8tic8: The subiect onmc:rtv is 10CIlIId in the Countrv Club Hjlls""";ftft of('.-., Hill File No AJ-24-0S , FIdars thIt IlfIct the m.tcIt8bIIIty of the properties in the nelghborttaad (proxinlty to empklyment IIld 8llIIl'litieI. employment 1tIbIIty, IppIII to IItII'ktt, lie.): ; The subm is located within a short commute to III maior arteries in and out of the HarrisbUl'l! area. Schools. sbODDina.. r-.rP.IItion. oarks. and .......- 1ft all within a short rnmmute to the subiect. EmDlovment in the III1:Il is stable with less than 3% W1eIIl1Iloved. This II1'a has hid DIlIJ'k:et !mMal : MIIDt CllIldIIianIIn the ..1lIIigI1borhooc (IrIc:Iudqj IUIlIlOrI for the IbcM CllIICIuIionB reIIild tllhe 1rInd of prllJ*IY YIIuII, dImIndIIuppIy.1IllI nwllIIing time ;..IUCt\. dItI on c:ornpeIIIMt properties far IIIIe in the neighborhood, deIcrIption of the pI8VIIence of....1Ild finIncing COl......... *.~ , This _sold 1608 onmerties as ofSeotr:mber 30.2005 with an avenuze mice ofS204.723. Seners received 98.72% oftbeir ukin2llrice. , The 8\IInlle time 01\ the maritet W8S 87 claw. This dam is from the Central Pam Multi List. ~ . ! Praject In~""" for PUDI (If .pplic8bIe) - - Is the deveIoperlbuilder in c:ontrol of the Home Owner's Auaci8tion (HOA)? UVea lxl No Apr.,olloG,wtI.r ~ number of units in the subject project Approxirnaae total number of unIIa for..1e in the aubject project 1"";_' Dirneneiane liO 'I[ 215 Topography FIE f;~' Site.,. .32 Acres Comer Lot UVea W No SIze .32 Acres : SpecIfic zoning ~.nd deecription RIA-Residmtia1 Sh:urle FlII1iiv' Shape I~ : Zoning compliance W I ~I-ni..g. liCllCQr~1D (GrwIClfllhnd.) U IIIIIgIII U No zoning Drainage Good i....,_..irnlIIav8II: I;-rPNeentIl88 I IOtheruset__n) ViIIw S~ : .......... P,!!!!lic Other orr..... Improwmentll Type p~ P!!D'I LandKBplng Good : EleclrlcIly x Street ,AmhAlt ~ _ Driwlway aurface U....A._ Gas x Curblgutter Ccmc:rete ~ __ AppnnI___ None . W81r x Sidewalk Concnlte t...!.. _ FEMASf*iIIFIaadH..uArll UVea WHo i Sanitary....r x Street Iighla F11l~ fA _ FEt.AA Zone X Map 0. 04115/1977 ,'~ StDrm ..... x AIleY FEMA MaD No. 4203950002B ',7 CclnlII.- (.-nI.......-rlIIIII. .IiCIO..c:hu_...IpeciII_.....1IIde _, IIIg8I or IIgIIIIClIll:GI1form ZDniV ..IE.): None ADDU'ClIlt : GENERAL DESCRIPTION EXTERIOR DESCRIPTION No. of UniIa 1 Found8t/on Concnlte i No. of Storiea 2 Exterior W8I1a BricklSidiD2 ~ Type (o.t./Att) AU. Roof Surface .Amhlt Shinlrl ee.lgn (Style) GulIIls & OwnIpIs. Alum. Exiati~ Existin2 Window Type Obi. HUDIl 'Age (Yra.) 1998 StormISc:reens Yes!Yes EtIlIcIiw AaI IYIIJ 0-10 MMUf8cI1nd HOUle No ROOMS FOWIr L ivino Dinino KiIchen Den BMement L-11 1 1 I ] '."'-'2 FOUNDATION SI8b No Crawl Sp8ce No Buement Yes Sump Pump No D8mpnees No . SeltIement No Infestation No FamiIv Rm. RIle. Rm. s::: 16~: =:TI~ ~ Ceiling Dnm Walla_ W.11a DrvwaIl Floor _ Floor Camet None_ 0UIIlde Entry No Unknown _ x . BIIths Laundrv Other Ar1!III So, Ft. 1.616 2 16]6 2 . ; ~inioot.tl __ .L IiRnnm . ') n 11....1..\. 1 ! INTERIOR MIIIriIIIICondII HEATING KITCHEN ECUI~ ArnC _ AMENmES ; FIoons Hw Type FA Refrigerator ~ None _ Fir1plIce(s)' : W.1I8 DrYwall Fl.el Gas RangelOven ~ Stairs ~ Patio -rll :f: TrimlFmieh Wood ICaIdIIiIn C'..nnd Di8poIal ~ Drop Stair _ Deck _~ Ili Bath Floor Cnnc tile COOLING Di8hw8aher ~ Scuttle .1L Porch _I- ~: 88th W.inacot FilienrlMs Central CAC FwHood I..!. Floor Fence_I- 1!1 Docn Wood Other Mic:rowave ~ Heated : Pool ~; !CmdIIiM Good I x IFiniAtMId ~ Addition.l futures (apeciIIl energy eIfic:ient items. etc.): Storms. eneJ'2V efficient 1DD1iances. and insulation. . Feet ..",. ,.. ,A.... r- CAR STORAGE: None 0 Gtlrage 2# of CIIrs AttachIId Yell Detached Built-In Carport lo~v M~ ,.' Condition of the improvements. depnsciatlon (physical. functional and external). repairs needed. qU81ity of construction. remodeIinghldditions. etc.: The subiect has vau1ted ceilillllS. brick front wa1k. deck IUd DaDo. hardwood floors. and ceramic tile in all bathrooms. "'. ~ environment&l conditions (such _. but not limited to, haz8rdOua weatea. toxic substances. etc.) pl1lSenl: in the improvements. on the Me. ~; or in the immecliate vicinity of the subject property: None aooarent.. 'tf-i arm 7U IIo8lI RSR REALTORS LIlII- _..arm PI:Mered By 111""-' -. Valuation Iec:tIon J LftCminn Fee !i:imnle .22 Acres ! SiIIIt . ~ \MIl '! - -.. ; AtIA \("~ Above Glade , Room Count , " A.- a..ment & FiniMed Full R Partial finished AVt'DR ~ .......C llt........ ed Porch. Pdo, Deck. Dec:klPatio ,F' ..... Nnnc: : s:- Pftftl .... None File No. AJ.24-0S 60 000 Comments on cOst ~ (such _, IOUrce of =-t eetirn*, lite YUle, aqu.re. foot cM:uIIItion and for HUD, VA and FmHA, the tIIltirrwted remaining economic life of the property): IMarwuI and Swift cost estimates used. AeILife Ilenreciation uethod used. COMPARABLE NO. 3 71 TuIc:my Court - ..... 'DA 17011 284~ ~ 300M W"* SA 571-9360 I CPMLS -~~RIPTlnN + . DESCRIPTION + 1("_" 800011011512005 ~ Fee Simnle o .14Acres l!iluhurlwn o Townh~ OIGond fli2no~ o New o T.... I_I A8.t. -10,000 61 '21 2 -20000 1 712Sn. Fl o Full 1'1 000 F"misbed n I !i:i"'Ilar o FAlGaslCAC ~~; 01 ? ("....IAtmr.hP.ll Patio -5OC: 1 J:1) N""'" leonv. o 04/1 moos I !i:n"'........ Fee Siirmle .15 Acres I ~,,"'........ 20000 Tnwnhnade 1l10nnd -30.000 12005 -20.000 New o TmaI IMlnaI a.h o 71 31 ~ o 1 70880. Fl o Full 15000 -. o !ili...il... o F AlGalCAC Storms o 2 Car/Attached 5,000 P8tia .SOO 1 FP None Bjoo 20 000 o .30_000 -20 000 o .15,000 o o IS 000 o o o 5,000 .500 111+ Ixl. Is -Boc:ll 1+ Ixl. Is -10.500'1 I. Ixl. Is -2.79 % Net I -3.69 % Net I -5.76 % Net I 19JtC) ~ Gra Is .,,., <l;M ~'TJ ~ r... Is 274..tOO 311.64 % GIS Is 271.031 ~J CornmenllI on SaIeB ComparisOn (including the aubject praperty's compatibility to the neighbort1ood, etc.): Paired sale&. mmket data. md " resemdI WIed to determine the best c:omDIIr8bles in the IInllL All_a were adiusted for inf1ation. Sales 1 and 3 were adiUSUld for bedrooms and ......... "', SIla 2 and 3 were adiusted for vear built. Sala 2l1J1d 3 were adiUSUld for IIZJDe8I . thev 8re both on 8 cul-dWIC. The Market ADIlJ'OIId1 Yielded ; a value Tmlle ofS261.s00 to $278.038. jj:: ESTIMATED SITE VALUE. . . . . . . . . . . . . . . . . . . . . . . . c $ ~~: ESTIMATED REPRODUCTION COST-NEW-QF IMPROVEMENTS: :: ; DwBIling 1 616 Sq. Ft. G 90 = $ 145.440 , Bsmt 1.616 Sq. Fl G 35 c 56.560 Almlu.n.- = 7.s00 : GInpICIrpart -1!iSq. Ft. 0 20 = 6.300 '. Total EstimIdIId Cost New. . . . ... . . . . .. = $ 215.800 Physical Functional ExeemIII , Lesa ; DepMciatIon 10 7901 I = $ 10 "7011 ;~valueofl~................ =$ 'ul'101n .~.Valueof.lmpllMtmenta................. = S 10000 -- H... .cS ""'llnn . ITEM I SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 Addr.a 1139 Counuy Club Road 1117 Country Club Road 69 TUlClDY Court - ..... .-. pA 17011 c.mnHill pA 17011 22Houses ~Mila "i -- JOn- Liv. A.-!: N/A ols 124.~" 166.4~ Deta arrrJIor 20 DOM 300M V,..-.---"- ~_.- I CPMLS , v.""'- ~RIPTlON +. j SaIea or Financing _ j Dnt of N1A 071281200s ~uhurlwn Fee Simole 32 Acres ~IINnNm I &nr.aI ownhouse T - L Good (".nnd 19911 1997 Good Good TIIIIII IBlIrm5I BIb TIIIIIIIBlIrm51 BIb 61 21 2.0 71 31 2.5 161680. Ft. 2.16680. Fl Full Unfinished !ilimilar F '--'C Storms 2 r-_I"_~'" DecklPatio '1 FP N~ ITEM ! 0., Price, IIId DIll ~ Scuoe, for prior... N/A N/A N/A N/A J AnaIy8ia of any curT8nt agl'Mmflflt of sa", option, or liIItlng of the suqect property and al1lllyaia of any prior ..... of subject and c:omparableS "'; wIlhln one yeer of the date of appraiIal: The subiect and comnarab1es settled and closed as renorb!d above. The subject and comlllll'llbles .', ha'<le not sold'within the urevious vear . INDICATED VALUE BY SALES COMPARISON APPROACH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ V,&III~ RY 1""""'= "-D^"CH lUtl. = S 'N/A . This lIpprIIiuIlB II'IIde W'E is' UIlIbjIcI il "'IlIis, lIIeIrIIianI, inIpIcIlon& or cancIIlons IIa8d bIIow UsubjIcI il carnpIIIlon per p1n1llll1plCllicllirln&. Conditlona of Appraisal: This 8DDI'IIis8l is bein2 done for value in an -, See Jdt8Ch1!!ll ~nMAl Conditions Addendum md S-oent ': OfLimitin2 Conditions. ,: Fil1llJ Reconciliation: The Cost ADIlJ'OIId1 Yielded 8 value ofS27S.000. A midran2e value of 5271.000 was estIhlished. ! u-o ...... CtdIll\ .j A4Jatacl Sales Price '~ SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO. 3 wl7.ooo 27.1.000 , The JlU1lCII8 rllIi& lIppniuI is il eIIImIIe the lIlIIIr8t veIue of tile IUl propelty that II the .. rI this ftlplIl, .., on tile IbcMl concIIIlclns II1d III c:erIIficIlion. conlingenl IIId ~ oondlIion&, IIId rrmet _ ~ lhII.J!..1IBI8d In the IIIIIchId Fntddle M.: Fonn ...lIIIlill U. Fonn 10048 (R8viIId ). I ewE) ElmlATE THE'rllARKET v.""'" 7 I~THE REAL PROPERTY THAT 18 THE IU8JECT OF THIS REPORT, AS OF December 17.2005 '" (WHICH IS THE ~~ 'IF D EcnvE DATE: OF THIS REPORT) TO BE $ . 271 000 . ,"," APPRAISER: J -J/ IUPERVISORA-1 . Tl~ fo.!!!::!..! REQUIRED): ;L Sift-'re Vi' / 7' Simlature ' -......, [Xl Did 0 Did Not ~,Na.... Arthur F. J~ Jr." I /I L/ NamII W..-I Inspect Property ~; Dale Januarv 7. 2~ n.M R.lnnrt Sianecl Jan1l.rY 7 2005 ~i St8te Certification. Asst. to Certified Amniser State State Certlfic:atiorll' GA-0014SS State PA it; n. Clhotoo I;......... tit ~_....- ~ 6-Il3 PAlO!;, Z QF Z F_ _ Farm lU04 &<< 'fllOl'"' Of sUBJECf J'lloPl!1lT'l ~Of sUBJECf J'llO'PEllT'l ~scere ftSll ftPL.'TOf'S J..LH _i""P subject Map ~ ~~..r~ ~~]IJ' ;Fl~ · ~ ):.~:~~ ~Jllk ' . .., ~"" ~ ~1t!; :. 'AIJ"{. ~ ~ ~~~ J 11 . _ ~ ~ 1 ,"!6-rf -I " .... '. ~ ~~ ~~_ -:C~ '"\~ -, .y -,N ',' i,,';':; 0' J; ~ ~~ ~~ ~ ";l!! '{I,; .d'P;';;;" v U'\ "- ;'[":' ,,' '. ::,} t:,.,,::, .. . i' ~.. ~~. ... ~ :,;~ :fiiJ'i, & 1+ ~t'~~~'l _ ~ ~..>- r~'; .~e,:\ . .iT,\........~ 3 ~! ~-;~_ " . fi~ '~~-~~. .';V' ',' \:,t#".,;,... ~ I l,T ~ il!>\~ ~.' .':r({,,' ~ ~ ~ . ~ ~ \ \ :'YI'>.. . ,,1{;" '. , . ~,_' l\ ' ~ C ' .i~i~!~~,; ~~_t!ir:\~~Tl ~ ,\ '~~: ~~~:. , r~ ~~ ! SUbJO"l '''ID\1 "\ ~ ,~~ ,~, ~. \~.~, - ~. . ~ \.l\ "~~, ~~ ~ (.~.s r ~.. "'" 1""1 "'. ~~:;.,~.. !,i:... \%. "'. -~~.:>.;- ~\ · ~~-:-)~ ~ ~~' ~ ~. ~'. ~'" :to t ,.i>'fft ~ "'" ,. c - Y $..t ~ \.- ~ ~ ... ~~~..\'" ~\~~ ~ \\ ~~...:\ ~ ~~~~ ~.~~\ :t;,""J ,.4\ ~ '<: ~~(2 ~ =" ~~ ~~ ~ ~~ ~~~o~ !l"'\. \L\7{ ~ 1 '"Y"~-'lf;.- , ~ '- ~ ~ ~ \(",.."\w"7 - ~ \]~ri~~'\'P; ~~ I"L<\. li~ ~ -? "\ " \ : -I ,.\,>'..... , F'iiill \ 1..-\\ · \ <-1! # \. ......." ~ ,;. "" f ~ """I. -""""";.....'1-..;: \' .y,,~ ;"'-:7,.1)" 3.~ ,--::'1 -"'f"-:FXi- ~_. ~ '<:~' ~\course ~ -~f~ ~~I . _'fl\l?~""'" ~ ~.Y ~7 v ___""" I L~/~ - .6<l~~ _..'" ~ PT. ~~~ ~-"'" " .. ...... ."" ?": , ~_, r ,,,,,", ,<" c.... .' ~ J"""' _.... . 60LlI I!. \ ,,''''' ~~.,. ~ "'::C '"l'\37\O 2 .~' ' ~...t -..,JL]/ ~ 'V'!' '" iC: ~ -,~ ,..._'j-~~\ ..' ~/.ll\.^,""#~ 7 ~ ~~'~ , ~ 0" 1" , I" ,PII 1/1 /t/~ SQ- . ~ ~ - - - - . . :;. ---_...........--- . - ~ J' ,/' J~" If' /p'~I.t. " I~' ~I /S" ~II CO' 'RABLES PHOTOGRAPH ADDE' ~M AJ.24-0S s.. lA-ZipCack 17011 RSR REALTORS COMPARABLE SAJ..&' 1 1117 CaaDIry C1IIb RaId CImp HD1, PA 17011 n. otSllo : Sale Price Sq.Pt. S/Sq. Ft rtJ/2If2OO5 269,000 2,166 124.19 COMPA.JlABLK 1lALE" 2 69 TlIItaIly Caart . CImp Hill, PA 17011 n. otSllo: 10/15J21lO$ SIlo Price 214.900 Sq. Ft 1,712 S I Sq. Ft. 166.41 COMPAIlABLE SAJ..& "3 71 TUBCalIy Caart CImp Hill, PA 17011 OIdBofSale: 0411512005 Sale Priae 29S,038 Sq. Ft. 1,708 S/Sq. Fl 172.74 ......... ....;7 ~ AV71 / ,"/ ~ y ~~ )' -; .Y~7 ~ ";", !.LIoN Comparables Map . ~:~~ ~~7j':':' v:. ~~~ ~ 1:~}!.~lh ..... '. .~ .~ ~ ~~ ~l~-.'..',""'" ',\, ~. fi~' ~~ /.""",~~,.. ....... I j ~\ ~~ . . ". , .' (,. i!~} \ \\ ~"... ... \\ ~ """,,;i"':., I~l~' ~ -ir -,J~~~;~:\\ ....~;i';: :!,".'L/'" 'ID' T7 \~'-1' /~\ ~-~.' 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' C~~~ -'" ~ ,~ .... ~ --- Detailed Results for Parcel 09-16 · ~54-1 13. in the 2004 Tax AssesSJro \Database '- DistrictNo 9 hn:eI_ID 09-16-1054-113. MIIpSuftlx BoueNo J139 0 Direction Street COUNTRY CLUB ROAD OwaerJ RATCLIFF, H CHALFANT C/O & MARlHA C RATCLIFF PropType R Propl)elc LivArea 1616 CurLaadV.1 55000 CurJ.pV.t 171330 CurTotV.1 226330 CurPreIV.1 Acreqe 0.32 ClGnSa.t T.xEx 1 Sele.Uat 191000 s.IeMo 5 Belen. 21 SaIeCc 19 SeIeYr 98 DeedBkPlap 00177-00768 Y_rBIt 1998 HJl' _Jl'lle_D.te 1112212004 HF _Appnnr.I_Stlatu A &j~ qt; ,I' / ,t tr ~ J .f'~' t JD' ~ 0 artjones v- FLOOD HAZARD BOUND~~Rl MAP H.Dl.D3~ FLOOD INSURANCE RATE MAP 1.01.03 1 l' I f I ; ; PRINTED TOWNSHIP OF EAST PENNSBORO, PENNSYLV ANIA CUMBERLAND COUNTY PANEL H&I-03 COMMUNITY NUMBER: 4203598 00 - Ii U.8. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FEDERAL INSURANCE ADMINISTRATION J A f: .~... --.1". ''\;-~\ \', \ \ ,.\~ ':::;.?~0 .:::' " ",' ~ .:'i~ '; 'j'" i,' ~:-tl~' ID ''Iii l~_~._ ~ ;-- ~ 't ~ " it ~{ . it;~ -, 1. " '~!:~ ~" ,~ ltement of Limiting Condition! File #: AJ-24-0S DEJI'INlTION OF MARKET VALUE: The most probable price which a property sboWd brin& in a competitive lIIld open market under III conditions requisite to a fair ult, the buyer IIDd seller, elICb Idin& prudently, knowledpably and assuming the price is not afJectod by undo llimulus. Implicit in this dcfiniDon is the consumation of a l8Ie II of a specified elite and the plISIing of title from seIle:r to buyelr under c:cmditions whereby: (1) buyw andscDer lire typiCllIy motivated; (2) both perties lire well informed or well advised, and CICh .ctine in whit he considers his own best intllrelt; (3) a J'Cl8SOD8bJe lime is allowed for exposure in the open market; (4)paymem isDllde in terms ofc:uh in U.S. dollars Or in terms offinlmciallJ'l'llDlfllDCl comparable tben:to; BId (5) the price represcD1I the normal consideration for the property sold unafl'a:ted by special or creative fiMncing or sales concc:ssions. pa1Ild by anyone ~ with the 18Ie. · AlljUllmenls to 1be c:oIIIJ*8bles must be 1DIde for spc:cial or c:reIlive tinIIIIcina or gJes ~ No Idjustments lire MCelIIIU'Y for thole COllIS which lire DOnD8l1y peid by sellers II a result of trIdition or law in the 1DIlliet III1lI; 1besc COlItS lire radiIy icleDtifiable since the seller pays tbeIe c:oa1S in virtually alll8la trInIICtions. Speci8l or creative fiDIncin& ecljussmtmts can be made to the comparable property by compmisons to financin&tams o:ffc:red by a tbini pIlty institutional lender tb8t is not a1rady invoMlci in the property or trIDI8Ction. Any adjustment should DOt be calculated on a mecbanic:al dollar cost of the financina or com:eaian but tbe don. lIDOunt of IIDY IdjusUnent should approximate the Dl8lbt's n:action to the fiMncin& or ccmceuicms bIIcd on the appraiscr's judpmalL . STATEMENT OF LIMlTING CONDmONS AND APPRAISER'S CltRTIFlCATION CONTINGENT AND LJMJ'I1NG CONDmONS:. The appraiWs certification that.appcm in the appI'8iIaI report is subject to the followin& CODditions: I. The IppI'IiIer wiUnot be responsible for JDlttaS.ofleplnamre that aifect ei'Iher the pIoperty being lIPJDised or the title to it The IppI'&iscr assumes that 1be title is pod IDd marketable and, u.eforre, will Dot render lilY opinicms about the Utle. The property is appraiIed 011 the buis of it beiDa under responsIole ownership. . 2. . The IIpJniB' has provided a IkI:tch in the eppraisa1 report to show approxiJDa1e dimenIicms oftbe improvements 1IIKl1be skach is included 0DIy to MSist the rader of the report in visbaIizing the property IIIKl undorslIaIding the appraiser's dett:rmination of its size. 3. The Ippniser has e:xamiDed tbe avaiIaJJle flood maps that lire provided by the Fc:dcnl Emerpocy ...............t Agatr:y (or other data sources) 8nd bu noted in the lIpp'Iiul report whc:tber the subject site is located in an idemified Special Flood HazIrd Area. Because the apprai.- is not a surveyor, be or she makes no guaJDtee, express or implied. reprdin& the determination. 4. The Ippl'aiIer will not Jive tatimony or IIppCIII" in court because he or she JIIIIdc ~ appniaa1 of the property in question, unless specific IITlIIJIClIDCI1 to do so have been made beforehand. s. The IIpJniscr bu estimated the value of the land in the cost approech at Its hiJbest and best use IIId the improvements at their contnDutory ~ue. 'These IClJlCW ~uaticms of the land IIId improvemcn1S must not be used in cmVunction with any other appnisaJ IIId lire in~id if1hey lire so uscc:l. 6. The appraiIer .. DOled in the appniII1 report IIDY adverse conditicms (such.. needed nlplIirs, ~ the pI'IllIIIDCC of hazardous WIlles, toxic aubmnces, ere.) obscncd cluring the inspection of1be aubject property or that he or she becaIlie aware of duriD& me normal rescan:h involvcdin performing the appraisal. Unless otherwise stated in the IippniuI report, the appniser has no knowledac of IIDY biddaJ or unappIrllDt COBditions of the prope:rty or adverse environmental conditions (including tile presaIIC ofbuardous waste, toxic iubstances; etc.) tb8t would make the property more Or less valuable, IIId has ISSUIDed tb8t there lire no such c:cmditicms IDd ~ no auaran=a or wuranties, c::xpress or implied. reprdin& the condition of the property. The appraiser win not be respOI1I1ole for IIDY such conditions that do exist or for lIlY engineering or testing 1ha& might be required to disccM:r whether such conditions aist. Because the eppraj_ is DOt an tlXpClrt in the field of environmental hazards, the appraiaal report must not be considered as an enYironmailBl ~ of the property. 7. The appraiser obtained the information, esti.ma1es, and opinions that wen: expressed in the 8Jl'IDisaI report from sources that he or she considers 10 be reliable and believes them to be true and correct. The apprai.- does not IllIU1De responsibil~ for the ICCUl'aC)' of such items that were fumisbed by other parties. I. The appraisel" will not disclose the contents ofttle appraisal report e:xcep11S provided for in the Uniform Standards of Professional AppnisIl'PnIctice. 9. The appraiser has besc:d bis or her appraisal report IDd valuation cOnclusion for an appraiiaJ that is subject to SII1isfactory completion, repairs, or aItr:nI&ions on the llIIUD1p1ion that completion of the improvements will be performed in a worlananJike lIIIIDIler. 10. The lIppI'aisec must provide his or her prior wriUcn consalt before the lender/client specified in the appraisal report can distribute the IppI'IoiIal report (includina COIlClusions about the property value. the appraiser's idenBty and professional desipations, and refercDces to lIlY professional appraisal orpnizations or the firm with which the appraiser is associated) to anyant: other than the borrowa'; the mortp,pe or its successors IIIKl assilJ18; the IIlOI'1pIC insurer; cotlSUl1llD1s; professional appraisal orpnizaticma; lilY Slate or fedcnl1y approved finIIIcia1 instl1u1ion; or lilY clepIIrtmmt agency, or instrwncm1al~ of tile United States or IIDY state or the District of Columbia; axcept that the lender/client may distribute the property description section of1be report only to cim collection or reporting scrvice(s) without having to obWn the appraiser's prior written consenL The appraiser's Written consent and IlpJlJ'OVIIl must also be obiained before the appraisal can be conveyed by anyone to the public through 1Idve:rtisiD& public relations. news, 18Ies, or other media. fnIIIdie MIlO F_ 439 '"" Pap 1 ar2 F........r-ll104B6093 RSR REALTORS \PPRAlSER CERTIFICATION File t: AJ-24-05 APPRAISEll'S CltRTlFlCATION: The Appraiaer certifies aDd III'ee5 tbIt . 1. I have racarcbed the subject IDII'bt ... aud have lICleated . minimum oftbree recaJt ales ofproperties IDOIIt similar IIIld JII'CllCim* to the subject property for c:oosidentiOl1 in the ales complII'ison analyIiJ and have made a dollar ItljUllDleDt when appropria1e to ndlect the DIIII'kIlt RlICdon to tbo8e items of sipificaDt variation. If a sipificllDt item in a compIII'8ble property is IIqIClIiorto, or more favonble ~ tile IUbjclCt property, I have made. nepbve IIdjUllmeDt to ftlducc the ~UIted sales price of tile c:ompmb1e IDd. if. sipificant itaD in a COIDplII'&ble property is inferior to. or .. favorable man. the subject property, I have made. positive IIdjUllmalt to increMe tbe ~uaed ales price oflbe ~ 2. I have 1abn iDto CODsidrntioa !be fiM:l:on that have III impIc:t 011 value in my deveIopmcDt of the estimRe of merket value in the appraia1 report. I have not Jaaowinaly witbeld any siJDific:lmt infOl'lllldion &om the IppI'Iial report IIIld I believe, to the bait ofmy laIowledp, that all ~ mid iDfonmItion in the appraisal report 1ft tnIc IIDd correct. 3. I iIIlId in the appraisal report only my personal. unbilscd, and profc:ssicma11lD1lysis, opinicms.1IId conclusions, which 1ft subject only to the CODtiDp:nt and limi1inB COJIdiUons specified in this form. 4. I have no preIeIlt or pI'ClSJIlldivc iDtaat in the property that is the subject of1his rtpJrt, and 1 have DO prelICI1t or prolIIlIICdve penoaal interest or biu with rapcc:t to tbc pIIIticipIats in the 1I'IIi.ctiaa. 1 did not bac, ei1ber partially or compJately, my ~ .vor the estimIIe of merket value in the appn.isal report OIl the nee, color, roliJioa, leX, hIndicIp. r.mDial ....... or IIIdioII&l oriIiD of either the pI'OIJIective owners or CIClCUpm1tS of the subject property or of_ present 0WDeI'S fir occ:upalS of the pI'OplIlfties in the vicinity of the subject property. 5. 1 have no preImt or consemplallld f'ulurc iataeIt in 1he subject property,_ neither my QII1"IID1 or til1uR anployment nor my fill 'I"''' ....- for performiDa this appraia1 is CODtlnpm on the appraised value of tile property. 6. I was DOt rapiired to report . pedefermined value or direction in value tbIIt favori the CIUIe of the clieat or my rc:1Ited pmy,1bc mlOUDt oftbe value eItiJIIIR, the IIIIinmcDt of. specific rauh. or the occurence of a subIequcnt ewm in order to JIlIleiw my 'IIOIJ'M'-roa lIIdIor employment for performina 1bc appraiIal. I did DOt bile 1bc IpInisaI report on . requested minimum valuation, alplCific val\llDon, or the neod to approve . specific monpp loa. 7. . I performed this IIpJlI'IiIaI in coafOl1D~ with the Uniform S&andards of Professional AppniIal PnIdice that were IIdoptaIIII1Ci promulpIaf by the Appraisal S1IDdIrds ao.d ofTbe AppniIal FOUDd8dcm and that were in place as of1be e&c:tive date oftbis IpIniIal, with the axceptioD of the depnIre provision of thole S1anduds, which docs DOt Ipply. 18dmowledF that an estimIre of a ,.....le dme for ClXJlOI1ft in the opaIl market is . condition in the defiDi.tioD ofmarkct value 1DCl1he estiJJIIItc I developed is CCIDIiItem with the DJIIIbIiD& time noted in the neiJbborbood aection of this report, unJeas I have otherwise SlIUld in the recooci1iIDon Mdion. a. I have pcncmally inspected the interior IIId exterior 8nlU of1he subject property _ the exterior of III properties IisIed as COIDplII'&bles in the appn.isa1 report. I funIw catify that I have noted any IpJlaI1IIlt or known IIdvene conditions in the subject im]IrcManans. 011 the subject . or 011 any lite within tbe immediate viciDity of the IUbjclCt property of which I lIIIl aware and have made lIlljustmcldl for 1heIe IIdverae condhions in my IIJ&Iyaia oftbe property value to the cxta1t that 1 b8d marialt cMdencc 10 IUJIIlO!t 1hem.. I have 1110 CCIIIIDlClDUld about the effect of 1bc IIdverae conditiOllS 0II1he lUl'kd8bility of the subject property. 9. I penonaDy pI'ClI*Ild all coaclusions and opinions about the real __ tb8t were let fonb in the appraisal report. If 1 relied 011 ~ PlDfesaional -.siatIDee ftom any individual or individual(s) in the performEce of1be lIppI'Iisal or the pnlJlC'Idon of1be appraiul rtpJrt, I have named such iDdividwIl(s) and discloeed tbe specific tasks performed by 1bem in the rec:.oaciliation Iection of this appnial report. I catify tb8t any individ\la1lO named is quIlified 10 perform 1he tasks. I have DOt auIborized anyoue to make cbanae to any item in 1be report; therefore. if 111 unautborizecI c:bange is !IIlIde to the appraisal rcpon. I will1llke no respolI.J1rility for it. SUPERVISORY APPRAISBR'S CERTmCATlON: Ifa supervisory ippraiIer Biped the appraisal rcpon. be or she c:crtifies and II"lllI thIt: I directly IllpeI'Yise the IpJniscr who prepered the apprIiaI report. have reviewed the appnisal report, II"'C with the I8ataDents IIId coaclUlions of1be lpprai8er,lIII1lC to be bound by the appraiset's certifications numberad ... tbrouah 7 abcwc. and 1II1111king full ~'bility for 1bc appniBal and 1be IIppraial rcpon.. ADDRESS OF PROPERTY APPRAISED: 1139 Commy Club Road Camp~HiD APPRAISD: SipIure: NlII1e:.. P. k. - ~~ DeSipd:~~ State CerdficatiOll II: Aast. to Certified A1JDni1ltll' or State License #: ExpinItion D8te of Certification or License: PA 17011 ;~)~~~ff_ DateSiped: JID~ State Certification #: GA-001455 PA or State LiceDK .: ~iration Date of CeI1ification or License: June 2007 !Xl Did 0 Did Not IDspect property Form 43 6-93 2012 F 'eMaeForm l004B 6-93 RlR REALTORS Div: 0.67 Ex: 11/23/2005 Rec: 11/28/2005 Pay: 12/20/2005 600 EQUITABLE RES INC (294549100; EQT) COM New York Stock Exchange 12/15/2005 " ~$Ute Va1uation Date of Death: 12/15/2005 Valuation Date: 12/15/2005 Processing Date: 01/30/2006 Shares or Par Security Description High/ASk 1) 200 AIR PRODS , CHEMS INC (009158106; APO) COM New York Stock Exchange 12/15/2005 61.08000 2) 200 APACHE CORP (037411105; APA) COM New York Stock Exchange 12/15/2005 73.45000 3) 528 BP PLC (055622104; BP) SPONSORED ADR New York Stock Exchange 12/15/2005 66.66000 4) 200 BANK OF AMERICA CORPORATION (060505104; BAC) COM New York Stock Exchange 12/15/2005 46.81000 5) Div: 0.5 Ex: 11/30/2005 Rec: 12/02/2005 Pay: 12/23/2005 400 CONSOLIDATED EDISON INC (209115104; ED) COM New York Stock Exchange 12/15/2005 46.71000 6) 200 DOMINION RES INC VA NEW (257460109; D) COM New York Stock Exchange 12/15/2005 81.47000 7) 39.38000 8) 400 FPL GROUP INC (302571104; FPL) COM New York Stock Exchange 12/15/2005 43.55000 9) 300 FORDING CON COAL TR (345425102; FOG) TR UNIT New York Stock Exchange 12/15/2005 39.90000 10) 947 FULTON FINL CORP PA (360271100; FULT) COM NASDAQ Bank - Insurance 12/15/2005 17.56000 11) 300 GREAT PLAINS ENERGY INC (391164100; GXP) COM New York Stock ExChange 12/15/2005 29.20000 Low/Sid 59.86000 H/L 70.94000 H/L 65.75000 H/L 46.38000 H/L 46.10000 H/L 80.29000 H/L 38.69000 H/L 42.35000 H/L 38.94000 H/L 17.25000 H/L Div: 0.415 Ex: 11/25/2005 Rec: 11/29/2005 Pay: 12/20/2005 28.94000 H/L Report Type: Date of Death Number of Securities: 16 File ID: ratcliffhcequities Mean and/or Div and Int Security Adjustments Accruals Value 60.470000 12,094.00 72.195000 14,439,00 66.205000 34,956.24 46.595000 9,319.00 100.00 46.405000 18,562.00 80.880000 16,176.00 134,00 39.035000 23,421. 00 42.950000 17,180.00 39.420000 11,826.00 17.405000 16,482.54 29.070000 8,721.00 124.50 Page 1 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.3) Div: 0.38 Ex: 11/30/2005 Rec: 12/02/2005 Pay: 01/03/2006 200 OGE ENERGY CORP (670837103; OGE) COM New York Stock Exchange 12/15/2005 ; Date of Death: 12/15/2005 Valuation Date: 12/15/2005 Processing Date: 01/30/2006 Shares or Par Security Description High/Ask 12) 200 MERCK & CO INC (589331107; MRK) COM New York Stock Exchange 12/15/2005 30.20000 13) 27.19000 14) 300 PLUM CREEK TIMBER CO INC (729251108; PCL) COM New York Stock Exchange 12/15/2005 37.74000 15) 400 SOURCE CAP INC (836144105; SOR) COM New. York Stock Exchange 12/15/2005 72.75000 16) 200 TYCO INTI. LTD NEW (902124106; TYC) COM New York Stock Exchange 12/15/2005 28.50000 Total Value: Total Accrual: Total: $240,837.78 Low/Bid 29.50000 HI!.. 26.67000 H/'L 37.11000 HIL 72 .15000 HIL 28.13000 H/L Report Type: Date of Death Number of Securities: 16 File 1D: ratcliffhcequities Mean and/or Div and Int Security Adjustments Accruals Value 29.850000 5,970.00 76.00 26.930000 5,386.00 37.425000 11,227.50 72.450000 28,980.00 28.315000 5.663.00 $240,403.28 $434.50 Page 2 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.3) Estate Valuation Date of Death: 12/15/2005 Valuation Date: 12/15/2005 Processing Date: 02/07/2006 Report Type: Date of Death Number of Securities: 66 File 10: ratfclifffixed Shares or Par security Description High/ASk Low/Bid Mean and/or Oiv and Int Security Adjustments Accruals Value I} 200 ALLIANCE RES PARTNER L P (01877RI08; ARLP) UT LTD PART NASDAQ - Industrial 12/15/2005 38.98000 37.62000 H/L 2} 100 PENN VA RESOURCES PARTNERS LP (707884102; PVR) COM New York Stock Exchange 12/15/2005 54.30000 53.90000 H/L 3} 100 NATURAL RESOURCE PARTNERS L P (63900PI03; NRP) COM UNIT L P New York Stock Exchange 12/15/2005 54.90000 53.82000 H/L 4) 5000 LOYALSOCK TWP PA SCH DIST G.O BOS (549050DU3) Financial Times Interactive Data DTD: 09/15/2002 Mat: 11/01/2017 4.3% 12/15/2005 101.77600 Mkt Int: 11/01/2005 to 12/15/2005 5) 20000 MONTGOMERY CNTY PA HIGHER ED &: HOSP REV (613604TN7) Financial Times Interactive Data DTD: 04/01/1998 Mat: 06/01/2018 4.875% 12/15/2005 102.40800 MItt Int: 12/01/2005 to 12/15/2005 6) 20000 PHILADELPHIA PA GAS WKS REV REV BOS (717823VA3) Financial Times Interactive Data DTD: 06/01/1998 Mat: 07/01/2018 5% 12/15/2005 102.45500 MItt Int: 07/01/2005 to 12/15/2005 7) 10000 LACKAWANNA CNTY PA G.O BDS (505480VR1) Financial Times Interactive Data DTD: 01/15/2002 Mat: 10/01/2019 5.1% 12/15/2005 10S.S8300 Mkt Int: 10/01/2005 to 12/15/2005 8) 10000 ERIE PA SWR AUTH SWR REV REV REF B (295533KM4) Financial Times Interactive Data DTD: 11/15/2001 Mat: 12/01/2020 5' 12/15/2005 104.00500 Mkt Int: 12/01/2005 to 12/15/2005 9) 10000 PENNSYLVANIA ST TPK COMMN TPK TURNPIKE (709223NK3) Financial Times Interactive Data DTD: 03/01/2001 Mat: 12/01/2021 5% 12/15/2005 105.22000 MItt Int: 12/01/2005 to 12/15/2005 10} 25000 PENNSYLVANIA ST HIGHER EDL FAC REV BOS (70917NDUS) Financial Times Interactive Data DTD: 02/01/1999 Mat: 08/01/2029 5% 12/1S/2005 103.82000 MItt Int: 08/01/2005 to 12/15/2005 11) 50000 UNITED STATES TREASURY NT (9128275G3) OTe DTD: 05/15/1999 Mat: OS/15/2009 5.5% 12/15/2005 103.57800 103.51600 A/B Int: 11/15/2005 to 12/1S/2005 Page 1 38.300000 54.100000 54.360000 101.776000 102.408000 102.455000 105.583000 104.005000 105.220000 103.820000 103.547000 26.28 37.92 455.S6 104.83 19.44 19.44 465.28 227.90 7,660.00 5,410.00 5,436.00 5,088.80 20,481.60 20,491.00 10,S58.30 10,400.S0 10,522.00 25,955.00 51,773.50 This report was produced with EstateVal, a product of Estate Valuations &: Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.3) Date of Death: 12/15/2005 Report Type: Date of Death Valuation Date: 12/15/2005 Number of Securities: 66 Processing Date: 02/07/2006 File 10: ratfclifffixed Shares Security Mean and/or Div and Int Security or Par Description High/Ask Low/Bid Adjustments Accruals Value 12) 7000 CERTIFICATES ACCRUAL TREAS SEC (156884E61) Financial Times Interactive Data Mat: 08/15/2008 ot 12/15/2005 88.56700 Mkt 88.567000 6,199.69 13) 55000 GNMA PASS-THRU X SINGLE FAMILY (362039ZZ5) Financial Times Interactive Data Mat: 10/15/2006 8.000\ Fact: 0.00345905 12/15/2005 100.98922 A/B 100.989219 192.13 Int: 12/01/2005 to 12/15/2005 0.59 14) 30000 GNMA PASS-THRU X SINGLE FAMILY (362041L60) Financial Times Interactive Data Mat: 12/15/2006 8.000\ Fact: 0.00734344 12/15/2005 100.98922 A/B 100.989219 222.48 Int: 12/01/2005 to 12/15/2005 0.69 15) 15000 FNMA PASS-THRU INT 15 YEAR (31372BKN9) Financial Times Interactive Data Mat: 01/01/2009 7.000\ Fact: 0.05050226 12/15/2005 102.92124 A/B 102.921244 779.66 Int: 12/01/2005 to 12/15/2005 2.06 Int: 11/2005, payable 12/25/2005 4.54 Prin: 11/2005, payable 12/25/2005 20.14 16) 150000 UNITED STATES TREAS NTS (912828AF7) Government/Agency (Dealer Quotations) DTD: 07/15/2002 Mat: 07/15/2012 3' 12/15/2005 105.65625 105.59375 A/B 105.625000 158,437.50 Int: 07/15/2005 to 12/15/2005 1,870.92 17) 100000 GNMA PASS-THRU X SINGLE FAMILY (362157J75) Financial Times Interactive Data Mat: 05/15/2016 9.500\ Fact: 0.02757513 12/15/2005 109.70082 A/B 109.700818 3,025.01 Int: 12/01/2005 to 12/15/2005 10.19 18) 30000 FHLMC PC GUAR FHA/VA (31340BFU8) Financial Times Interactive Data Mat: 02/01/2017 8.000\ Fact: 0.09826304 12/15/2005 106.50392 A/B 106.503922 3,139.62 Int: 12/01/2005 to 12/15/2005 9.17 Int: 11/2005, payable 01/15/2006 19.81 Prin: 11/2005, payable 01/15/2006 23.75 19) 70000 GNMA PASS-THRU X SINGLE FAMILY (36217X4G2) Financial Times Interactive Data Mat: 04/15/2017 8.500\ Fact: 0.01919679 12/15/2005 108.18317 A/B 108.183165 1,453.74 Int: 12/01/2005 to 12/15/2005 4.44 20) 30000 GNMA PASS-THRU X SINGLE FAMILY (362166QEJ) Financial Times Interactive Data Mat: 04/15/2017 7.000t Fact: 0.059454 12/15/2005 105.19265 A/B 105.192647 1,876.24 Int: 12/01/2005 to 12/15/2005 4.86 21) 25000 GNMA PASS-THRU X SINGLE FAMILY (36217TN96) Financial Times Interactive Data Mat: 05/15/2017 8.000t Fact: 0.02985234 12/15/2005 107.04173 A/B 107.041734 798.86 Int: 12/01/2005 to 12/15/2005 2.32 Page 2 This report wa& produced with Estateval, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.3) Date of Death: 12/15/2005 Valuation Date: 12/15/2005 Processing Date: 02/07/2006 Report Type: Date of Death Number of Securities: 66 File ID: ratfclifffixed Shares or Par security Description High/ASk Low/Bid Mean and/or Div and Int security Adjustments Accruals Value 22) 38000 GNMA PASS.THRU X SINGLE FAMILY (36203L2M3) Financial Times Interactive Data Mat: 07/15/2023 7.000t Fact: 0.03635745 12/15/2005 105.37924 A/B 105.379235 1,455.90 Int: 12/01/2005 to 12/15/2005 3.76 23) 25000 GNMA PASS.THRU X SINGLE FAMILY (36204THA5) Financial Times Interactive Data Mat: 02/15/2024 7.000t Fact: 0.04980128 12/15/2005 105.37999 A/B 105.379989 1,312.01 Int: 12/01/2005 to 12/15/2005 3.39 24) 25000 GNMA PASS.THRU X SINGLE FAMILY (36205JSW6) Financial Times Interactive Data Mat: 04/15/2024 7.500t Fact: 0.07453292 12/15/2005 105.85492 A/B 105.854917 1,972.42 Int: 12/01/2005 to 12/15/2005 5.43 25) 45000 GNMA PASS.THRU M SINGLE FAMILY (36202BZU2) Financial Times Interactive nata Mat: 04/20/2024 7.000t Fact: 0.04243176 12/15/2005 104.81746 A/B 104.817458 2,001.42 Int: 12/01/2005 to 12/15/2005 5.20 Int: 11/2005, payable 12/20/2005 11.46 Prin: 11/2005, payable 12/20/2005 54.52 26) 35000 GNMA PASS-THRU M SINGLE FAMILY (36202B3Z6) Financial Times Interactive nata Mat: OS/20/2024 7.000t Fact: 0.03493446 12/15/2005 104.81746 A/B 104.817458 1,281.61 Int: 12/01/2005 to 12/15/2005 3.33 Int: 11/2005, payable 12/20/2005 7.15 Prin: 11/2005, payable 12/20/2005 3.65 27J 25000 GNMA PASS-THRU X SINGLE FAMILY (36205H5Q8) Financial Times Interactive Data Mat: 07/15/2024 8.000t Fact: 0.0481389 12/15/2005 107.07364 A/B 107.073641 1,288.60 Int: 12/01/2005 to 12/15/2005 3.74 28) 45000 GNMA PASS-THRU M SINGLE FAMILY (36202B6Z3) Financial Times Interactive Data Mat: 07/20/2024 7.000t Fact: 0.04096396 12/15/2005 104.81746 A/B 104.817458 1,932.18 Int: 12/01/2005 to 12/15/2005 5.02 Int: 11/2005, payable 12/20/2005 10.78 prin: 11/2005, payable 12/20/2005 4.97 29) 55000 GNMA REMIC TRUST 2004-27 (38374GFW7) Financial Times Interactive Data Mat: 04/20/2034 5.500t Fact: 0.88440722 12/15/2005 98.03700 MItt 98.037000 47,687.55 040 Accrual 104.21 30) 34000 GNMA REMIC TRUST 2004-80 (38374JGJ9) Financial Times Interactive Data Mat: 07/20/2034 5.000t Fact: 1 12/15/2005 94.31400 MItt 94.314000 32,066.76 040 Accrual 66.25 31) 50000 FHLMC REMIt SERIES 2921 (31395LT68) Financial Times Interactive Data Mat: 08/15/2034 5.000% Fact: 0.64702646 12/15/2005 97.44500 MItt 97.445000 31,524.75 040 Accrual 62.77 Page 3 This report was produced with EstateVal,. a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.3) Date of Death: 12/15/2005 Report Type: Date of Death Valuation Date: 12/15/2005 Number of Securities: 66 Processing Date: 02/07/2006 File 10: ratfclifffixed Shares Security Mean and/or Div and Int Security or Par Description High/ASk Low/Bid Adjustments Accruals Value 32) 50000 FHLMC REMIC SERIES 2960 (31395RCN6) Financial Times Interactive Data Mat: 08/15/2034 5.500% Fact: 0.58024604 12/15/2005 99.32500 MItt 99.325000 28,816.47 CMO Accrual 61. 95 33) 10000 BRADFORD PA AREA SCH DIST G.O. BDS (104373DL6) Financial Times Interactive Data DTD: 03/01/1998 Mat: 10/01/2016 5% 12/15/2005 103.16600 MItt 103.166000 10,316.60 Int: 10/01/2005 to 12/15/2005 102.78 34) 10000 CRANBERRY TWP PA G.O. BDS (224288EF3) Financial Times Interactive Data DTD: 11/15/2001 Mat: 12/01/2025 5\ 12/15/2005 104.31200 MItt 104.312000 10,431.20 Int: 12/01/2005 to 12/15/2005 19.44 3S} 10000 CUMBERLAND VALLEY PA SCH 01 ST G.O BDS (230822NA2 ) Financial Times Interactive Data DTD: 10/15/2002 Mat: 11/1S/2014 3.75% 12/15/2005 98.36100 MItt 98.361000 9,836.10 Int: 11/15/200S to 12/15/2005 31.25 36) 5000 DELAWARE RIV PORT AUTH PA (. NJ DELAWARE (246361AX7) Financial Times Interactive Data DTD: 10/01/1972 Mat: 01/15/2010 6% 12/15/2005 105.4S100 MItt 105.451000 S, 272 .55 Int: 07/15/2005 to 12/15/2005 12S.00 37) 15000 LANCASTER PA G.O. BDS (514282KP6) Financial Times Interactive Data DTD: 11/01/1998 Mat: 05/01/2028 4.5% 12/15/200S 99.29800 MItt 99.298000 14,894.70 Int: 11/01/2005 to 12/15/2005 82.50 38) 20000 LANCASTER CNTY PA SOLID WASTE REV BDS (S14057BX5) Financial Times Interactive Data DTD: 03/17/1998 Mat: 12/15/2014 5% 12/15/200S 104.19300 MItt 104.193000 20,838.60 Full coupon paid on 12/15/200S 39) 10000 MUHLENBERG PA SCH DIST G.O. BDS (624805GZ4) Financial Times Interactive Data DTD: 03/1S/1996 Mat: 04/01/2017 5.2% 12/15/2005 100.46400 MItt 100.464000 10,046.40 Int: 10/01/2005 to 12/15/2005 106.89 40) 25000 PENNSYLVANIA ST GO BDS (709141ZQ1) Financial Times Interactive Data DTD: 01/01/2003 Mat: 01/01/2022 4.75% 12/15/2005 102.70400 MItt 102.704000 25,676.00 Int: 07/01/2005 to 12/15/200S 540.97 41) 10000 PENNSYLVANIA ST HIGHER EDL FAC REV BDS (70917NGC2) Financial Times Interactive Data DTD: 06/15/1999 Mat: 06/15/2024 5% 12/15/200S 104.04900 MItt 104.049000 10,404.90 Full coupon paid on 12/15/2005 Page 4 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.3) Date of Death: 12/15/2005 Valuation Date: 12/15/2005 Processing Date: 02/07/2006 Shares or Par security Description High/Ask Report Type: Date of Death Number of Securities: 66 File ID: ratfclifffixed Low/Bid Mean and/or Div and Int security Adjustments Accruals Value 42) 10000 PHILADELPHIA PA SCH DIST G.O. BDS (717880Z35) Financial Times Interactive Data DTD: 12/15/1998 Mat: 04/01/2023 4.5\ 12/15/2005 100.35700 Mkt Int: 10/01/2005 to 12/15/2005 43) 5000 PITTSBURGH PA Wl'R &: SWR AUTH W REV BDS (72S304JWO) Financial Times Interactive Data DTD: 03/01/1998 Mat: 09/01/2025 5.05\ 12/15/2005 102.37200 Mkt Int: 09/01/2005 to 12/15/2005 44) 5000 SWARTHMORE BORO AUTH PA COLLEG REV BDS (870000FA9) Financial Times Interactive Data DTD: 07/15/2002 Mat: 09/15/2012 5\ 12/15/2005 107.62100 Mkt Int: 09/15/2005 to 12/15/2005 45) 30000 UNITED STATES TREASURY SO (912810FD5) OTC DTD: 04/15/1998 Mat: 04/15/2028 3.625\ 12/15/2005 126.41000 126.34800 A/B Int: 10/15/2005 to 12/15/2005 25000 FNMA PASS-THRU LNG 30 YEAR (3136286P9) Financial Times Interactive Data Mat: 11/01/2008 8.750\ Fact: 0.00381544 12/15/2005 46) 47) Int: 12/01/2005 to 12/15/2005 Int: 11/2005, payable 12/25/2005 prin: 11/2005, payable 12/25/2005 100000 GNMA PASS-THRU X SINGLE FAMILY (36224DET8) Financial Times Interactive Data Mat: 05/15/2022 7.500\ Fact: 0.0281153 12/15/2005 Int: 12/01/2005 to 12/15/2005 30000 GNMA PASS-THRU X SINGLE FAMILY (362049X94) Financial Times Interactive Data Mat: 12/15/2007 8.000\ Fact: 0.00771309 12/15/2005 Int: 12/01/2005 to 12/1S/2005 25000 GNMA PASS-THRU X SINGLE FAMILY (362057VT5) Financial Times Interactive Data Mat: 12/15/2008 9.000\ Fact: 0.01680989 12/15/2005 Int: 12/01/2005 to 12/15/200S 75000 GNMA PASS-THRU X SINGLE FAMILY (36224DFB6) Financial Times Interactive Data Mat: 06/15/2022 7.500\ Fact: 0.02134493 12/15/2005 Int: 12/01/2005 to 12/15/2005 55000 GNMA PASS-THRU X SINGLE FAMILY (3620557K5) Financial Times Interactive Data Mat: 09/15/2008 9.000% Fact: 0.00929279 12/15/2005 Int: 12/01/2005 to 12/15/2005 48) 49) 50) 51) Page 5 102.87551 A/B 106.09638 A/B 102.31772 A/B 104.44618 A/B 106.09638 A/B 104.44618 A/B 100.357000 102.372000 107.621000 126.379000 102.875510 106.096379 102.317720 104.446179 106.096379 104.446179 92.50 72.94 62.50 182.25 0.32 0.72 8.20 0.72 1.47 4.67 1. 79 10,035.70 5,118.60 5,381.05 37,913.70 98.13 3.87 2,982.93 236.76 438.93 1,698.46 533.83 This report was produced with EstateVal, a product of Estate Valuations &: Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.Com. (Revision 7.0.3)