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HomeMy WebLinkAbout06-14-06 (2) F\FILESDA T AFILE\General\Cun-ent\ 11145.2.3n5 Created 6/9/06 IO:34A\1 Revised: 6/14/06 3:27PM IN RE: : IN THE COURT OF COMMON PLEAS OF ESTATE OF LINWOOD B. PHILLIPS, JR., : CUMBERLAND COUNTY, PENNSYL V ANJA Deceased, ALICE R. PHILLIPS, Petitioner : ORPHANS' COURT DIVISION v. : NO. 21-06-0122 ROBERT G. FREY, Respondent RESPONDENT'S ANSWER WITH NEW MATTER TO PETITION FOR RELIEF AND NOW, comes Robert G. Frey, Executor ofthe Estate ofLinwoodB. Phillips,Jr., deceased, by and through his attorneys, MARTS ON DEARDORFF WILLIAMS & OTTO, and hereby answers Alice R. Phillips' Petition for Relief as follows: 1. Admitted. 2. Admitted. 3. Admitted. 4. Admitted. 5. Admitted. 6. Admitted. 7. Admitted. 8. Paragraph 8 is an interpretation oflaw to which no response is required. To the extent that a response is required, the same is denied. Byway of further answer, because Decedent and Petitioner entered into a Prenuptial Agreement, a copy of which is attached as Exhibit" A" and incorporated herein, absent the Will, Alice R. Phillips would be a creditor ofthe estate, not an heir. See Estate afBarilla, 535 A.2d 125 ( 1987) (noting that under the antenuptial agreement, the widow was a creditor of her deceased husband's estate, rather than an heir). Therefore, if Petitioner has standing to file this Petition for Relief, which Respondent contests, it is not as an heir of the Phillips estate. 9. After reasonable investigation, Respondent is without knowledge or information sufficient to form a belief as to the truth ofthe allegations contained in ~ 9. Byway offurther answer, Petitioner's intention, or lack thereof, to sue Respondent and his father, Robert M. Frey, is irrelevant to the instant \' ..;.>' Petition for Relief. 10. It is admitted that Petitioner and Decedent entered into a Prenuptial Agreement in October 2002. It is further admitted that Karl E. Romingerrepresented Petitioner in the execution ofthe Prenuptial Agreement, but it is denied that Respondent and Decedent specifically instructed or directed Petitioner to retain Karl E. Rominger as her attorney for the execution of the Prenuptial Agreement. Respondent's office was not involved with the securing of counsel for Petitioner. It is additionally denied that simultaneously with the execution ofthe Prenuptial Agreement, Respondent and Robert M. Frey represented Decedent in the sale of real property to Karl E. Rominger. Respondent's office had no involvement with the installment sales transaction between Decedent and Karl E. Rominger. 11. It is admitted that Karl E. Rominger entered into an Installment Sales Agreement with Linwood B. Phillips, Jr. with regard to the 155 South Hanover Street property, that Mr. Rominger is currently using the premises for his law practice, and that he has been there since 2000. A true and accurate copy ofthe said Installment Sales Agreement is attached as Exhibit "B." The Installment Sales Agreement speaks for itself, however, review of the same clearly indicates that the execution of the Installment Sales Agreement was not "contemporaneous" with the execution ofthe Prenuptial Agreement. 12. Afterreasonable investigation, Respondent is without knowledge or information sufficient to form a belief as to the truth ofthe allegations contained in ~ 12. Byway of further answer it is denied that Karl E. Rominger was paid by Frey & Tiley. A review of Respondent' s office account records reveals no payments to Karl E. Rominger for his representation of Petitioner with respect to the Prenuptial Agreement. It is further denied that Karl E. Rominger never met with Petitioner before the execution of the Prenuptial Agreement or that physically meeting a client before a transaction is a prerequisite to competent representation. Byway of further answer, it is apparent that Karl E. Rominger, at the very least, reviewed the Prenuptial Agreement and approved of its terms as "fair" and "satisfactory." A true and accurate copy of a letter from Karl E. Rominger to Robert G. Frey dated October 2,2000, evidencing Karl E. Rominger's professional approval of the Premarital Agreement is attached as Exhibit "C" and incorporated herein. 13. It is denied that the Prenuptial Agreement does not disclose the mortgage or the sale ofthe Office Complex and does not reference the transfer. The list of assets attached to the Prenuptial Agreement was current as of September, 2000. The Installment Sales Agreement was entered into a month before, in August, 2000. Thus, the 115 South Hanover Street property would not have been specifically referenced in the asset list, because it would have been disposed of a month earlier. Also, no mortgage was referenced in the Prenuptial Agreement, because there was no mortgage on the property pursuant to the Installment Sales Agreement. It is believed and therefore averred that the consideration Decedent received from the Installment Sales Agreement transaction is reflected in the disclosure list attached to and incorporated in the Prenuptial Agreement. All other allegations contained in ,r 13 are denied. 14. It is denied that Decedent ever requested that Mr. Rominger not disclose the sale ofthe Office Complex to the Petitioner, or that he ever stated "they would make it worth his while" (ifhe did not disclose the same). As is evident by the date the Installment Sales Agreement was executed, by the time the Prenuptial Agreement was entered into, the 155 South Hanover Street transaction had already occurred. Byway of further answer, the Installment Sales Agreement was recorded with the Recorder of Deeds on September 1,2000. As a public record, Petitioner has constructive knowledge ofthis fact whether it was disclosed in the Prenuptial Agreement or not. 15. Paragraph 15 contains conclusions to which no response is required. To the extent that a response is required, it is denied that Petitioner would have received "adequate" representation by securing her own independent counsel. First, it is believed and therefore averred that Karl E. Rominger adequately represented Petitioner's interests with respect to the Prenuptial Agreement. Second, Petitioner had been represented by attorneys previously. For example, Petitioner was represented by Paul Taneff, Esquire from Ricci & T aneff in regard to a PennDOT condemnation and a suit against her for a dog she had raised and sold. Additionally, Petitioner is represented now by Neil Wamer Yahn, Esquire. Petitioner clearly knows how to retain attorneys for legal advice and advocacy. Petitioner was within her rights to retain another attorney to advise her with respect to the Prenuptial Agreement. She apparently chose not to do so. Third, even assuming Mr. Rominger's representation of Petitioner was sub-par, it is entirely speculative to assume that another attorney would have represented Petitioner's interests differently. It is further denied that Mr. Rominger was representing his or the decedent's interests at the expense of Petitioner's. A copy of the Installment Sales Agreement is attached hereto and speaks for itself. 16. It is denied that Respondent is "an interested party" to the estate. Respondent is not receiving gifts under the Will, was not the drafter ofthe Will, and bears no interest in the estate other than a fiduciary interest. To the extent that Respondent had a business relationship with Decedent during Decedent's life simply renders Respondent a more sensible choice as executor because ofhis familiarity with the estate. Additionally, an executor should be removed only when there is a real danger of substantial loss to the estate with inaction. This is because the testator has a property right in choosing the manager of his estate. In re Glessner's Estate, 22 A.2d 701, 343 Pa. 370 (1941). Decedent chose Respondent as executor of his estate and Decedent's choice must be respected. 17. It is denied that Respondent is failing to uphold his fiduciary duties as executor to the estate or that he is interfering with Petitioner as beneficiary. With respect to Respondent's management ofthe estate, all actions Respondent has taken, including the liquidating of certain estate assets, have been consistent with the estate's best interests. 18. It is admitted that Respondent has scheduled various auctions, but it is denied that doing so constitutes a breach of fiduciary duty. 19. It is admitted that Respondent has not provided an Inventory or Accounting ofthe assets ofthe estate, but there has been no legal or court-imposed requirement to do so yet. Respondent plans on providing an Accounting ofthe estate when it is appropriate to do so. Petitioner's cooperation with Respondent's management of the estate will undoubtedly facilitate the process. It is admitted that Respondent continues to proceed with disposition of various assets consistent with his fiduciary estate, but it is denied that he does so "without limitation," as he is bound by his fiduciary duty to the estate. 20. It is denied that distribution of estate assets is inappropriate or imprudent at this time. If that is the case, Respondent is not aware of any time where such distributions are appropriate. By way of further answer, one ofthe main functions in the estate administration process is to make distributions pursuant to the testamentary scheme ofthe will, which is exactly what Respondent, as executor to the estate, is doing. 21. It is denied that various paintings, rifles, and jewelry of significant value are "disappearing." Byway of further answer, all liquidation of estate assets is being done pursuant to the estate's best interests and consistent with Respondent's fiduciary duty. 22. It is denied that seventeen safe deposit boxes have been entered and that an inventory of the contents has not been provided. Respondent only knows of two safe deposit boxes. Respondent was only able to access one ofthe two boxes because Petitioner has the keys to the other one. lfPetitioner knows of fifteen other safe deposit boxes, Respondent, as executor ofthe estate, would appreciate being given that information. 23. After reasonable investigation, Plaintiffis without knowledge or information sufficient to form a belief as to the truth ofthe allegations contained in ~ 23. Byway of further answer, Petitioner's intention, or lack thereof, to elect against the Will is irrelevant to the instant Petition for Relief. Finally, the issue of election is a question oflaw to which no response is required. To the extent a response is required, Petitioner will not be making said election under 20 Pa.C.S.A. 92102, as Petitioner alleges, but under 20 Pa.C.S.A. 92203. 24. Paragraph 24 is an interpretation oflaw to which no response is required. To the extent that a response is required, the same is denied. By way of further answer, election is determined by 20 Pa.C.S.A. 92203, not 92102. Additionally, 92203 permits election of one third ofthe estate, not one half. 25. It is admitted that the total assets of the estate may exceed forty million dollars ($40,000,000.00), but Respondent is still gathering asset information and is unsure ofthe actual size ofthe estate at this point in time. It denied that distribution of estate assets should wait for the disposition of an elective share claim, which has not even been made yet and may never be made. 26. Paragraph 26 is an interpretation oflaw to which no response is required. To the extent that a response is required, the same is denied. Byway of further answer, it is denied that Petitioner may be entitled to twenty million dollars upon electing againstthe estate, as a surviving spouse may elect against one third of the estate. 27. Paragraph 27 is an interpretation o flaw to which no response is required. To the extent that a response is required, the same is denied. 28. Paragraph 28 is an interpretation oflaw to which no response is required. To the extent that a response is required, the same is denied. 29. Paragraph 29 is an interpretation o flaw to which no response is required. To the extent that a response is required, the same is denied. 30. Afterreasonable investigation, Plaintiffis without knowledge or information sufficient to form a beliefas to the truth ofthe allegations contained in ~ 30. By way of further answer, Petitioner's intention, or lack thereof, to serve Respondent with discovery is irrelevant to the instant Petition for Relief. Respondents potential case strategy is also irrelevant to the instant Petition for Relief. 31. The allegations contained in '131 constitute a prayer for relief and do not require a response from Respondent pursuant to Pa.R.C.P. 1029(d). 32. The allegations contained in '132 constitute a prayer forrelief and do not require a response from Respondent pursuant to Pa.R.C.P. 1029(d). 33. The allegations contained in ~ 33 constitute a prayer for relief and do not require a response from Respondent pursuant to Pa.R.c.P. 1029(d). 34. The allegations contained in ~ 34 constitute a prayer forrelief and do not require a response from Respondent pursuant to Pa.R.C.P. 1029(d). NEW MATTER 35. By statute, a court can remove a personal representative in the following situations: 1) when the personal representative is wasting or mismanaging the estate, or is likely to become insolvent, or has failed to perform any duty imposed by law; 2) when the personal representative has become incapacitated to discharge the duties of his office because of sickness or physical or mental incapacity and his incapacity is likely to continue to the injury ofthe estate; 3) when the personal representative has removed from the Commonwealth or has ceased to have a known place of residence therein, without furnishing such security as the court shall direct; 4) when the personal representative has been charged with voluntary manslaughter or homicide; or 5) when, for any otherreason, the interests ofthe estate are likely to be jeopardized by his continuance in office. 20 Pa.C.S.A. 9 3182. 36. Respondent, as executor ofthe Phillips estate, is not wasting or mismanaging the estate. Respondent is liquidating estate assets and making distributions pursuant to the testamentary scheme under the Will. Also, Respondent is in no danger of becoming insolvent and is performing all the duties the law requires him to perform. 37. Respondent is not suffering from an incapacity, mental or otherwise, nor does Petitioner allege that Respondent is suffering from the same. 38. Respondent is a resident of the Commonwealth, and at all times relevant to this Petition has been a resident of the Commonwealth. 39. Respondent has not been charged or convicted of any violent crime, including voluntary manslaughter or homicide. 40. Finally, Petitioner has failed to allege how the estate's interests are beingj eopardized by permitting Respondent to serve as executor. Petitioner has, at best, alleged that Respondent is not making choices in her best interest, but the Petitioner's best interest is not the standard. Respondent, at all times, has acted consistent with the estate's best interests. 41. Because Petitioner has failed to allege any statutory basis forremoval, the Court should dismiss the instant Petition to Remove Executor. 42. Moreover, Pennsylvania courts have held that removal of a fiduciary is a drastic action which should be taken only when the estate is endangered and intervention is necessary to protect the property ofthe estate. In re Estate of Pirone, 489 Pa. 60, 68,413 A.2d 1012, 1016 (1980); Scientific Living, Inc. v. Honensee, 440 Pa 280,295,270 A.2d 216, 224 (1970). This is especially true when the executor was chosen by the testator. In re Hamill's Estate, 410 A.2d 770, 487 Pa. 592 (1980). 43. Respondent was personally selected by decedent to act as executor. Decedent's choice in representative should only be disturbed ifthe estate is endangered and intervention is necessary to protect the property of the estate. Those facts are not present here. WHEREFORE, Respondent, Robert G. Frey, Executor ofthe Estate of Linwood B. Phillips, requests that this Honorable Court enter an order DISMISSING Alice R. Phillips' Petition to Remove Executor. Respectfully Submitted, MARTSON DEARDORFF WILLIAMS & OTTO '11 ;1.... if (? {Ii) ,/ I ~ A By , .' \~,- l ", \., Ivo V. Otto, III Attorney LD. No. 27763 Michael 1. Collins Attorney LD. No. 200427 10 East High Street Carlisle, P A 17013 (717) 243-3341 , J (' /,i) \ /'~...- "- ,1/,,; !i. i /,' '\ " V r ,,\ . ( .t - . -.l, '" ~/ I, '" \, ~ '~\'\.._. '. \, Date: ,'~~- I ! /\ / C'~, Attorneys for Respondent PRE-NUPTIAL AGREErvIENT 2 ~ ,L c JcJ b ~r ENTERED INTO THIS day of ~0ptcmb.er, 2000, between, Linwood B. Phillips, Jr., of Dickinson Township, Cumberland County, Pennsylvania (mailing address: 93 Encks Mill Road, Carlisle, Pennsylvania 17013), hereinafter known as "HUSBAND", AND Alice R. Mountz, of Dickinson Township, Cumberland County, Pennsylvania (mailing address: 93 Encks Mill Road, Carlisle, Pennsylvania 17013), hereinafter known as "WIFE", WITNESSETH: That in consideration of the terms and conditions herein set forth, and in contemplation and consideration of the contemplated marriage of HUSBAND and WIFE to each other, they do agree as follows: 1. The parties to this Agreement intend and desire to define their respective rights in the property of the other, and to avoid such interest which, except for the operation of this Agreement, they might acquire in the property of the other as incidents of their marriage relationship. 2. HUSBAND was born on July 28, 1925, and has four children, who are Linda L. Stull, Linwood B. Phillips, III, Walter Allen Phillips, and Merle R. Phillips. 3. WIFE was born on December 11, 1935, and has three children, who are Harold C. Mirabito. Sr., Dawn Marei Hamel, and Paula George. 4. HUSBAND is presently retired. WIFE is presently retired. 5. Attached hereto and marked Exhibit "A" is a statement of substantially all of the assets of HUSBAND presently owned by him and in addition sets forth his expectancies. 6. Attached hereto and marked Exhibit "B" is a statement of substantially all of the assets of WJFE presently owned by her and in addition sets forth her expectancies. 7. This Agreement is entered into in consideration of marriage, and its effectiveness is expressly conditioned on such marriage between the parties actually taking place, and if, for any reason, the malTiage is not consummated, this Agreement will be of no force or effect. 8. HUSBAND and WIFE do hereby admit and acknowledge that each has been represented by independent counsel in the negotiation of this Agreement; that the counsel representing each party was of his or her own choosing; and that this Agreement has been read by each of the parties and has been explained to each of them by such counsel as to its meaning and legal consequences. 9. Except as herein provided, HUSBAl"4D does hereby covenant and agree with \VIFE that HUSBAi'\JD will neither during the lifetime of \\ 1FE nor after her death take, claim, demand or receive, and does hereby waive and release all rights, claims, titles and interests, actual, inchoate, or contingent, in law an equity which HUSBA...,1\JD might, by reason of his marriage to \VIFE, acquire in her property or estate, including but not limited to: a. All of the assets listed on Exhibit "B" attached hereto plus all income \vhich may be earned and accumulated on such assets, the appreciation in value of said assets, and the proceeds of sale or liquida!' ts and the reinvestment of such EXHIBIT I A proceeds in other assets; b. Riaht or claim of do\ver or curtesy or any statutory substitute therefor as provided by the statutes of the state in which the parties or either of them might die domiciled; c. The right to any distributive share in the estate of WIFE should she die intestate; d. The right to take against the Will of WIFE, his prospective spouse; e. The right to act as Administrator or Executor, either alone or jointly with others, of the estate of WIFE, unless nominated by WIFE; f. The right to seek support from WIFE; g. The right of claim of any alimony in the event of termination of the contemplated marriage of the parties prior to the death of either of them, by divorce or otherwise. 10. Except as herein provided, WIFE does hereby covenant and agree with HUSBAND that WIFE will neither during the lifetime of HUSBAND nor after his death take, claim, demand or receive, and does hereby waive and release all rights, claims, titles and interests, actual, inchoate, or contingent, in law an equity which WIFE might, by reason of her maniage to HUSBAND, acquire in his propeI1y or estate, including but not limited to: a. All of the assets listed on Exhibit "A" attached hereto plus all income which may be eamed and accumulated on such assets, as well as the proceeds of sale or liquidation of any of said assets and the reinvestment of such proceeds in other assets; b. Right or claim of dower or curtesy or any statutory substitute therefor as provided by the statutes of the state in which the parties or either of them might die domiciled; c. The right to any distributive share in the estate of HUSBAND should he die intestate; d. The right to take against the Will of HUSBAND, her prospective spouse; e. The right to act as Administrator or Executrix, either alone or jointly with others, of the estate of HUSBAND, unless nominated by HUSBAND; f. The right to seek support, future support or benefit from HUSBA"'JD; g. The right of claim of any alimony in the event of termination of the contemplated marriage of the parties prior to the death of either of them, by divorce or otherwise. 11. If the marriage ends prior to the death of either HUSBA..l~D or \VIFE, WIFE shall be entitled to a lump sum payment calculated as $1,000.00 times the number of whole months between the date of marriage and the date of separation. Thereafter, WIFE shall be entitled to recei ve $2,000.00 per month for support until such time as she remarries, or until such time as either party dies, whichever event shall first occur. Provided, however, that if any trust is created by HUSBAl~D for the benefit of WIFE and is designated as being for her SUPP011 during her lifetime, any distributions from said trust to WIFE shall be credited toward the payments of monthly support from HL.;SBAND for purposes of this paragraph. 12. If WIFE survives HUSBA~D, \VIFE shall be entitled to a support payment of 53,000.00 per month, to be adjusted annually, beginning on the first anniversary of the death of HGSBAi"JD, by multiplying the monthly support payable for the preceding year by a fraction, the numerator of which shall be the Consumer Price Index for the current year, and the denominator of which shall be the Consumer Price Index for the preceding year, which amount shall then be payable for the succeeding twelve equal monthly support payments. Provided, however, that if any trust is created by HUSBAND for the benefit of WIFE and is designated as being for her support during her lifetime, any distributions from said trust to WIFE shall be credited toward the payments of monthly support from HUSBAND for purposes of this paragraph. 13. All other assets which HUSBAND and WIFE may have acquired or hereafter acquire which are acquired jointly by HUSBAND and WIFE as tenants in common or as joint tenants with the right of survi vorship or as tenants by the entirety, in the absence of a specific designation of their interests in such assets being other than equal, then same shall be deemed to be equal and shall be treated as marital property. 14. HUSBAND and WIFE each agree that nothing herein contained shall be deemed to deprive any child born of their contemplated marriage from the right to support by either or both HUSBAND and WIFE. 15. HUSBAND and WIFE covenant that each shall willingly, at the request of either party, or at the request of his or her successors or assigns, execute, deliver and properly acknowledge whatever additional instruments may be required or convenient to carry out the intention of this Agreement, and shall execute, deliver and properly acknowledge any deeds or other documents in order that good and marketable title to any property can be conveyed by one party or the estate of that party free from any claim of the other party. 16. Nothing herein contained shall preclude or prevent either HUSBAND or WIFE from making inter vivos transfer or testamentary bequests to each other which may be more generous than anything provided herein, provided that any such intervivos transfer shall clearly indicate in writing that such transfer is intended to alter the terms of this Agreement to the extent of such transfer. INTENDING TO BE LEGALLY BOUND HEREBY, the parties hereto have executed this Agreement on the day and year first hereinabove written. :;~~--//'l '~AL) Linwood B. Phillips, Jr. ~~----' A ~ ~ Alice R. lVIountz (SEAL) ~U1Sed ---' Balances as of September IS, 2000 Current Value Est. Future Value Orrstown Bank - Hometown Investment Account $ 250,000.00 $ 875,500.00 Orrstown Bank - Certificate of Deposit #508-59700 $2,250,000.00 $2,250,000.00 Expires 9(13(2002 Orrstown Bank Stock (14,584 shares @ $42) 612,528.00 765,660.00 Adams County National Bank Stock (3,048 shares @ $18.50) 56,388.00 70,485.00 Tressler Lutheran Services Municipal Bond (matures 1(1(02) 100,000.00 100,000.00 Orrstown checking account 1,453.36 1,500.00 TOTAL $3,270,369.3 6 $4,063,145.00 *** 899 Emily Drive, Mechanicsburg, PA $ 90,000.00 $112,500.00 ~ '-' r - ! ! - U '~1 1'1 un 0;0: ; 5 :;': H 11 PHI L LIP :3 [, F f E '( -, Edlu Corporation P1"opErties~ South Middleton Twp. (Baker fnnYl/fietd next to Western Village - 15 acr-es + (-) PhHlIps po~1:lon Ewingfar1l1 CMiddles~>< T'NJ'. Wolfs Btidg~ Road - 100 acres +f-) Phillips portion Wert fam1 (Wolfs Bridge Road - 100 acres +(.) Phillips portion Snug HarDorfCavalry Road (9 acr-es +(-) Phillips portion Wertz R\.l.n Road (slate bank 8 acres +(.) Phillips portion Baker Farm (Walnut Bottom Road north To Allen Road. 90 acr-es +/-) Phillips" Portion Lutz farm (De><o beside Montsera grocery Store - Pine Road - Z acres +,f-) Phillips portion South Middleton Township (along west side of Road to Western village - 8 acres + (.) Phillips portion Ashley Place - Holly Pike (3 acres +(-) Phillips portion Lots 46 and '1,7, Spring Road, North Middleton Tv..'P. Phillips portion Gilliard land (South Middleton TO'.\lnship mountain Ground 09 a.cres +(-) Phillips portion Gilliard land (Mt. HoHy rtlcul1tain ground) Phillips portion Gilli<lrd land (Route 94, South Middleton Twp) Phillips portion "7 1 7 .2 .:.+ ~ 1 ~. '3 ."3 f'.02 Curre~lt Value Est. Future ViJlue $ 300,000.00 $3 75 ,COO 00 $ 600,000.00 $750,000.00 $ 600pOO.00 $750,000.00 .$ 175,000.00 $218,750.00 $ 50,000.00 $62,500.00 $5,000,000.00 $6,250,000.00 $ 7,500.00 $9,375.00 $ 100,000.00 $12.5,000.00 $ 200,000.00 .$250,000,00 $ -W,OOO.OO $50,000.00 $ 50,000.00 %2,500.00 $ 30)000.00 $37,500.00 $ 2.0,000.00 $25,C~)O.OO .....J..->::.ll:,f l'lUti ':.;.l'::;:':,'=:;' H'" PHILLIP~, v FF:E'( Huntington TOI,Vl1sn:Pl Adams Co. (58 acres +/- near Heidh.l\"sburg) Phillips p0rtion Wanlngton Towmhlp (20 3cres -+(. off Fickes Road near O\Il~bv.rg) Phillips portion Shughart lanel (10 acres +(- north side of [81 Abutting Royer farm) Phillips portion Smith f~nn (UO acres +(- along Adams Road SHT, adjoining DDDlPfO farms) Phillips portion 2'+4 Burnt House Road (5 +f- acres) Enck's Mil! Road (89 +f. acres) Sheaffer farm Enck.'s Mill Road (61 +(- acre.s) white farm Walnut Bottom Road (36 +(- acres) March farm Richlaod Road (21.58 acres) Walnut Bottom Road (139 acres) Erford farm W. Yellow BI'eech~s Roa.d (7.8 acres) /-.1ontsera Road Cl.723 acres) Montsera Road (6 aCTes) 93 Enck's !'vIill Road (97.438 acres) land House Duplex Gar3ge Hog operation Montsera Road (59.79 acyes) Ale)(ander farm land 8uildings Locust Lane (122 acres +) Hoffer fann land Buildings Stewa.~i Fant1 (100 acres +/-) TOTAL: I 1 I 2' 4- 3 1 ~,<3 3 F' . ~,?,", $ 150,ClI.JO.OC $::'87,500.00 $ 100,000.00 $::'25,000,00 $ 75,000,00 $9.3,750,00 S 800,000.00 ~, 1,000,000,00 $ 245,000.00 $306,250.00 $ 800,000.00 $1,000,000.00 $ 800,000.00 $1,000,000.00 $ 200,000.00 $250,000.00 $ :wo,ooa.oo $ 250,000.00 .$ 800,000.00 $1,000,000.00 $ 60,000.00 $60,000.00 $ 25,000,00 $31,250.00 $ 4-5,000.00 $56,250.00 $ 900,000,00 $1,125,000.00 1.800,0Qi.J.OO $2,250,000,00 350,000.00 $lj..3 7,500.00 75,000.00 $93,750.00 7,157,000.00 $ 8,946,250 .00 S 400,000.00 $500,000,00 125,000.00 $156,250,00 $ 900,000,00 S 1,125,000,00 897,000,00 $1,121,250.00 S 600,000,00 $ '7.50pOC,OO .$24.,676,500,00 nO.8li-j62S00 .....L-.....;.'t.:.' J'I'-'11 C).=::::,'7 Hl'l PHILLIP'3 c, FFE'T' "7 L I .2 ..:;. 3 1 ~. ~ 3 F.04 Balances as of September I} 2000 Current Val~le Est. Future Value Or'r'stown Bank - Hometown Investment Accoul1t $ 2,556,205.89 $3,195/257.36 Orr-stown Bank stock (14,584 shares @ $42) 612,528.00 765,660.00 Adams County National Bank Stock (3,048 shares @ $18.50) 56,388.00 70,4-85.00 Tressler Lutheran Sei'"Vices Municipal Bond (matut'~s 1(1(02) 100,000.00 100,000.00 Orrstowt1 checking account },453.36 1.L:200.00 TOTAL U326.575.Z5 ~J32,90b36 .~-,_,t;:1 1'1 '_H" lJ':;.;C"~ HI1 PHILLIP:::, (. FF:E'( 7172431693 F' . [1::, ANNENDALE LOTS: ~OT # GROSS A.REA SEVlIC CURRE\JT VALUE EST. FUTURE VALUE 1 "5 ""8" 83 ft sand mound $43,900.00 $54-,875.00 ~ J I . .). sq. . 2 42,58~. 79 sand mound $43,900.00 $5!f.,875.00 3 47,242,13 sand mound $43)900.00 $54,875.00 it- 4'+, 901l-. 86 sand mound $It4,900.00 $.56,125.00 5 43.135.78 sand mound $4-4,900.00 $56,125.00 6 51,1211-.66 sand mound $/f"l-,90Q,QO $56,125.00 "7 4.31265.73 sand mound $44,900.00 .$56,125.00 I 8 54-,938.02 sand mound $44,900.00 $56,125.00 9 54,390.19 sand mound $44,900.00 $56,125.00 10 49,88/'1-.02 sand mound $43,900.00 $54,875.00 11 55,818.18 sand mound $44,900.00 $56,125.00 12 50,391.35 sand mound $ J.f.4.~ 9 00.00 $56,125.00 13 44,910.85 sand mound $44,900.00 $56,125.00 Ill- 48,408.33 sand moul1d $44,900.00 $56,125.00 15 53, 94-q.. 79 sand mOLmd $44,900.00 $56,125.00 16 48:306.12 sand mound $43,900.00 $5"+-,875.00 17 50,929.77 sand mound $43,900.00 $54,875.00 18 89,994-.36 sand mound $46,900.00 $58,625.00 19 53,602.70 sand mound $4-3,900.00 $54,875.00 20 43,875.00 sand mound $44,900.00 $56,125.00 23 4-5,115.82 sand mOUl1d $43J900.00 $54,875.00 24 lJ.l,967.88 sar,d mound $4-3,900.00 $54,875.00 26 54,4'+5.4-4- sand mound $.q.3,900.00 $54,875.00 27 4-9,937.31 sand mound $4-4,900.00 $56,125.00 ,_..-,. ".....J~. .C.I~I HI" i'H1LLIPS fr< FRE'y. 7' 1 I 2. 4::: 1 '=, '9 == F.06 . 2.8 47,466,95 sand n10und $11.3,900,00 $54,875.00 29 45,861.15 sand mound $43,900.00 $5-4-,875.00 30 50)956.30 sand mound $lt'+,900,00 $56) 125.00 31 48,076.44- sand mound $44)900.00 $56,125.00 32 40,840.54 sand mound $43,900,00 $5Lt-J87S.00 TOTAL $1)2.91,100 $1,613}875 L.B.'s ONE-HALr- li45.55D $806,937.50 ,-_, , ':.J:7. L..' ..~, H' -j r-:i.i. L LIP :::. c( F!=: E 'r J17::".4::.1~.93 F.. '217 CLARH~DOI'-J PRICE LIST LOT # SALt: FR.ICE GROSS/NET SQ.IT. 5 E PTrc EST, FUTL..:RE '/ALUC: (,vith(without easemwt) #1 $4-9,900 60, 163 sq. ft. sand mound $62,375.00 #7 $49,900 60,002 sand mound :162,375.00 #8 $50,900 66,133 in-ground $ 63,625 .00 #9 $49,900 60,097 sand (w. d~l1jt. $62,375.00 #10 $52,900 60,265 in-ground $66,125.00 #11 $52,900 60,008 sand mound $66,125.00 #12 $52,900 68,100 I 60,010 in-ground $66,125.00 #13 $52,900 63.228 in-g/"Ound $66,125.00 #14 $52,900 70,880 l60,922 sand mound $66,125.00 #15 $52,900 62,089 f 60,38J. sand mound $ 6 6,125.00 #17 $4-9,900 61,197 sand mound $62,375.00 #18 $48.900 60,903 sand! w. denit. $61,125.00 , #19 $50,900 69,383 sand mound $63,625.00 #20 $48,900 60,082 sandi w. denit. $61,125.00 #21 $50,900 68,151 sand mound! "veil $63,625.00 #22 $ <i-9,900 61,600 sandi \1/. denit. $ 62,3 75.00 #23 $49;900 62,657 sand mound $62,375.00 #24- $49,900 64-,350 sand mound $62,3?5.00 #25 $50)900 73,827 sand muund $63,625.00 .' Co r - L L - '-" e' 11 <:) ~~ () '3 : '" 1 A t1 PHI L L r p '=' t, F F: E Y 71724:=:169~ P.O>O; #26 $48,900 64,218 SClnd mound $61,125,00 #27 $51+,900 116,15li. sand mound $68,625.00 #28 $51,900 61,1+35 sand mound $ 64-,875.00 #29 $Ll.2,900 60,000 sandt w. denit. $53,625.00 #30 $+2.,900 60pOO sandi w. denit. $53,625.00 #31 $4-2,900 60,000 sandf w. detlit. $53,625.00 #32 $4-2,900 60,000 sandI w. denit. $53,625.00 #3.3 $4-2,900 60,000 sand! w. den it. $53,625.00 #36 ~~ 4-5,900 60,000 sand mound $57,375.00 #37 $42,900 60,876 sand! w. denit. $53,625.00 #38 $51,900 60,5 72 sand mound $64-,875.00 #39 $51,900 66,314- sand mound $64-,875.00 #41 $4090n 71,690 sandi w. denit. $62,375.00 . /) "" #42 $49,900 60,197 sand! w. den it. $62,375.00 #43 67,7 36 ( 66,120 $--' "00 sandi w. den it. $67,375.00 :J:J,':J #44- 137,106/126,418 #45 $4\900 60,000 sandi w. denit. $57,375.00 #46 $.{5,900 60,000 sandf w. den it. $57,375.00 #'+7 $4 ?,900 60,000 sand mound $59,875.00 #:~8 $49,900 70,062 f 60,163 sand mound $62,375.00 #4.9 $49,900 86.285 ~and mound $62.3 7S .00 "-,L-I---l..:..-\::..ll::::...1 I'lur"-! 87:01 HI~ PHILLIr=>:=; 21 Fr-~::::'l' 7' 1 I' :2 ....;. :=: 1 ~. :1 3 P _ [1'~ #50 $lt9,900 84,728 sand mound $62,375.00 #51 $lt6,900 60,762 :>a.nd Iw. dcnit. $58,62.5.00 #52 $4-9,900 60,753 sand mound $G2,375.00 #53 $49,900 60,753 sa ~id mou nd $62,375.00 #54- $49,900 60,753 s~nd mound $62.375.00 #55 $49,900 60,753 sand mound $ 62,37.5 .00 #56 $49,900 60,753 sand Mound $62,375.00 #57 $'+9,900 60,753 sand mound $62,375.00 #58 $4-B,900 60,034 sand mound $61,125.00 #59 $48,900 60,661 sand mound $61,125.00 #60 $49,900 71,248 ( 60,024- sand mound $62,373.00 #61 $46,900 60,546 ( 60,118 sand! w. den it. $58,625.00 #62 $50,900 63,974- sand mound $ 63,625.00 #63 $52,900 60,169 sand!denitfNell $ 66,125 ,00 #64 $50,900 60,277 sand mOI..l.nct $&3,62.5.00 .#65 $50,900 62,668 ( 60,007 sand mom~d $63,625.00 #66 $50,900 64,133 ( 60,145 sand mound $ 63,625 .00 #67 $50,900 67,452 I 60,012 SClt'ld mound $ 63,625.oC #68 $50,900 65,067 160,05'7 sane! mound $63.625.00 #69 $52.900 60,'+-52 f 60,054- sand mound/well $66,125.00 #70 $51,900 60,031 sand mound $ 64-,875 .GO #71 $50,900 60,034 sand mound $63,625.00 ....... ~_' L' I I ,_, Ii ~:;f: L1 .::;. H i'l j-' 1-1 ILL r P :3 !l( F F~ E Y 711243.1~'33 ~. . [1 1 #50 $49,900 B4,728 sand mound $62,375,00 #51 $46,900 60,762 sandf'W. dellit. $58,625.00 #52 $49,900 60, 753 sand mound $62,3 75.00 #53 .$!f9,900 60,753 sand mcund $62,375.00 #54 $!f9,900 60,753 sand mound $62,375.00 #55 $49,900 60,753 sand mound $62,375.00 #56 $'+9,900 60,753 sand mound $62,375.00 #57 $49,900 60,753 sand mound $62.,375.00 #58 $48,900 60,034- sand mound $61,125.00 #59 $48,900 60,661 sa nd mc)u nQ $61,125.00 #60 $49,900 71,248 ! 60,024 sand mound $62,375.00 #61 $46,900 60,54-6 f 60,118 sandi w. denit. $58,625.00 #62 $50,900 63,974 sand mound $63,625.00 #63 $52,900 60,169 sandfdenit.iwell ,$ 66,125.00 #64- $50,900 60,277 sand mound $63,625.00 #65 $50,900 62,668 ( 60,007 sand mound $63,625.00 #66 $50,900 64,133 f 60,145 sand mound $63,62.5.00 #67 $50,900 67,452 I 60,012 sand mOllr~d $63,625.00 #68 $50,900 65,067 f 60,057 sand mound $63,625.00 #69 $52,900 60,452 ( 60,054 sand moul1d/'.vell $66,125.00 #70 $51,900 60,031 s3nd mound $6Lf.,875.00 #71 $50,900 60,034 sand mound $63,625.00 .-,,-r--l.,,:,,-j...:-l~..:.l :"IUI"-f 09:[14 Hr'l PHILLIP:=. ~< FF:E'y' 717"::':'4~163-"3 F" . 0.2 #72 $50,900 60,046 sand mound $63,525.00 #73 $46,900 60,749 sandi i-V. dsnit, $ S 8,62500 #74- $49,900 62,800 ( 6D,50!t .5Jnd mound $62,375.00 #75 $49,900 66,500 ( 60,159 sand mOL-!nd $62,375.00 #76 $49,900 61,645 sand mout"'d $62,375.00 #77 $4-9,900 62,558 sand mound $62,375.00 #78 $50)900 60,174 sand mout'ld $63,625.00 :# 79 $49,900 61,24-5 I 60,4lt5 sand mour\d $62,375.00 #80 $49,900 79,033 ( 75,390 sand mound $62,375.00 #81 $49)900 72,234 I 64,895 sand mound $62,3 T~.OO #82 $47,900 65,039 f 60,304- sand r w. denit. $59,875.00 #83 $52,900 65,4-80 r 60,02'" sand mound $ 6 6,12.5.00 #84 $46,900 123,385 /60,672 sand mound $58,625.00 #85 $49,900 60,117 silnd mound $62,375.00 #86 $49,900 60,791 silnd mound $62,375.00 TOTAL U 7 7.1J-,4-00 llLl8,OOQ ~~~-l~-~~ nUN 03;04 ~M PHILLIPS & FREY 71724:31633 F.C13 ~ER.I7"i\GE VALLEY LOTS: L.B. PHILLIPS LOT # GR.OSS AREA 5EF'TIC SYSTEM CURRENT VALUE EST. FUTURE VALUE 11 67,069 sand mound $39,900.00 $49,875.00 12 67,/.03 sand mound $41/900.00 $52,375.00 14 7 2/~4-8 :;and mound $4-1,900.00 $52,375.00 16 67,?71 sand mound $ Lj..l,900.00 $52,375.00 19 67,779 sand mound $4.1,900.00 $52,375.00 21 68,342 sand mound $4-2,900.00 $53,62.5.00 23 66,552 conventional $42,900.00 $53,625.00 25 68,119 sand mound $43,900.00 $54,875.00 27 68,058 sand mound $43,900.00 $54,875.00 32 68,834- sand mound $44,900.00 $56,12.5.00 34 67,614- sand mound $45,900.00 $57,375.00 38 68,989 conventional $44,900.00 $56,12.5.00 39 68,1J.60 ;sand mound $44,900.00 $56,115.00 42 69,060 sand mound $43,900.00 $54-,875.00 44- (7)037 sand mound $4-3..900.00 $54-,875.00 47 67,tH7 sand mound $4-3,900.00 $54,875.00 Jt9 67,184- sand mound $!J.3,900.00 $5-'+-,875.00 51 66,964- converltional $-'+-4,900.00 $56,125.00 53 69,840 conventional $44,900.00 $56,125.00 u ,- ',,:,c... J 71.:::-:-+51633 F' . Co ,+ 5S 74,:~96 conventional $44,900.00 $56,125.00 56 67,'751 sGlnd mound $45,900.00 $37,375.00 59 74,'f.69 sa nd moul1d $44,900.00 $56,125.00 62 67A94 sand mound $45,900.00 $57,37'5.00 TOTAL _$1,008,700 $1,260,8' 5 11'....11-1 't.J'::t:U~' Hl1 l-'HILLIP:3 1}"< FFE'lo 7" 1 7 .2 -4- 3 1 ~,'3"3 FO.. D5 KI\:GS GAP - MINI MODULE Lot # CW(RENT VALUE GROSS AREA 5 EPTIC EST. FUTURE VALUE Lot #2 $36,900.00 52,238 seepage bed $4G,125.00 Lot #3 $35,900.00 4-3,381 seepage bed $Ll-4-,S 75.00 Lot #LJ. $35,900.00 43,381 seepage bed $4Ll-,875.00 Lot 1/5 $34,900.00 40,502 seepage bed $43,625.00 Lot #6 $3t~,900.00 tf-O,502 seepage bed $43,625,00 Lot #10 .$36,900.00 4-9,950 seepage bzd $4-6,125.00 KINGS GAP Lot # 1 $37,900.00 52,395 sand mound $47,375.00 Lot # 11 $36,900.00 4-4)550 sand mound $46,125.00 Lot # 14 $37,900.00 53,577 conventional $~7,375.00 Lot #15 $38,900.00 59,373 sand mound $48,625.00 Lot # 16 $4'1-,900.00 69,300 sand mound $56,125.00 Lot #19 $44-,900.00 72,267 sand mound $56,125.00 Lot #20 $44,900.00 66,934 sa nd nlOund $56,1. 25.00 Lot #21 $44,900.00 61,575 sand mound $56,125.00 Lot #22 $44,900.00 111)259 sand mound $56,125.00 -.... "--.-' --' "~" ~...J ._-. .. t:,.1 __, t-o.' I r n 1.. L L .I.. P::':. <?~ r F: == Y 7l~.2451~.33 P. [l c'. Lot #23 $44,900.00 87,587 sand mound 5:56,125.00 Lot #30 $37,900.00 55,377 seepage bed $47,375.00 Lot #3] $37,900.00 50,067 sand mound $47,375.00 Lot #32 $37,900.00 51//.88 sand mound $47,375.00 Lot :(13 3 $37)900.00 56,573 sand mound $47,375.00 Lot it:35 $39,900,00 61,475 sand mound $49,875.00 Lot #36 $39,900.00 55,361 sand mound $4-9,875.00 Lot #37 $39,900.00 40,254- sand mound $".9,875.00 Lot #38 .$42.,900.00 56,7 6 9 tr~nch8s $53,625.00 Lot #39 $42,900.00 63,927 seepage bed $53,62.5.00 Lot #4-0 .$42)900.00 64,251 conventional .$53,625.00 Lot #4-1 $39,900.00 4-3,552 sand mound $49,875.00 Lot #42 $39) 900.00 40,500 sand mound $49,875.00 Lot #43 $39,900.00 40,500 seepage bed $LJ.9,8 75.00 Lot #4ll- $39,900.00 40,500 sand mound $!t-9,875.00 Lot #!t- 5 $39)900.00 45,784 sand mOlmd $4-9,875.00 Lot #Lt6 $39,900.00 51,635 sand mound $49,875.00 '_ot #4.7 $39,900.00 4-7,006 sand mour'ld $49,875.00 Lot #48 $38,900.00 55,264- sand mound $4-8,625.00 '::, E P - 1 1 - <21 el M 0 t'l 0 ''? ~ 0 ",. f'l r1 PHI L L r P::, e" F F: c:: 'r Lot #49 TOTAL $3"' 0''''0 00 ( ,,,,IU . 1l~S1{-.600 5:+;{,50 1.J.7:""";'Elr::,9-3 sand mound P.D7 $4-7,375.00 $1,693,2,5Q -'~' -11-'.::1{;" 11 '-.I t', 00< :D6 Ar1 PHILLIP:::: "' f-~F:E'l' 7" 1 7 .:: 4 :3 J. ,:. '3 3 F' . [1 :::: Towr',jHOUSES Current value Est. Future Value F'a\ITax Apartr(1ents (16 units @ $80,000.00 each) Phillips' portion $ 6+0pOO.OO $800,000.00 Highla11d Court Apari:ments (30 ul1its @ $80)000.00) Phillips' portion $1,2.00,000.00 $1,500,000,00 Rockledge Drive Ap<.1rtments (17 units @ $90,000.00) Phillips' portion $ 765,000.00 $956,250.00 Forest Court i\partments (24 units @ $90,000.00) Phillips' portion $1,080,000.00 $1,350,000.00 Hamilton Court Apartments (22 units @ $75,000.00) Phillips' portion $ 825,000.00 $1,031,250.00 Center street Apartments (12 units @ $80,000.00) Phillips' portion $ 480,000.00 $600,000.00 But"r' AV811t1e Apartments (12 units @ $95,000.00) Phillips' portion j 570,000.00 S712,500.00 TOTAL 12,560.000.00 .$6.950,000.00 FARM EQUIPMENT VALUES 9 (1(00 Description Current Est. Futu re Value Value IH 684 Tractor, SN B000922, 62 HP, 2042 hours, 2wd, w( 2250 loader $18,920.00 $ 22,704.00 IH 684 Tractor, SN B000506, 62 HP, 1544 hours, 2wd, w(2250 loader $19,360.00 $23,232.00 IH 686 Tractor, SN U9931, 66 HP, 2973 hours, 2wd, ROPS $17,380.00 $20,856.00 IH 686 Tractor, 5N U010527, 66HP, 1648 hours, 2wd, ROPS, WGTS $17,050.00 $ 20,460.00 IH 1066 Tractor, SN not found, 125 HP, 2204 hours, 2wd, ROPS, WGTS $24,750.00 $ 29,700.00 IH 1066 Tractor, SN U048793, 125 HP, 1150 Hours, 2wd, ROPS, WGTS $27,060.00 $32,472.00 IH 1566 Tractor, SN U011605, 161HP, 2433 hours, 2wd, ROPS, WGTS, DUALS $25,300.00 $30,360.00 IH 1086 Tractor, SN U51094, 130 HP, 2wd, CAB, WGTS $31,240.00 $37,488.00 IH 1486 Tractor, SN U010948, 145 HP, 2wd, CAB, WGTS $32,670.00 $39,204.00 Case 1840 Skidloader, SNJAF0076813, 53 HP, 63 hours, ROPS, Awe Hydr. $19,140.00 $22,968.00 Case 1845C Skidloader, SN 17955062 60 HP, 1544 hours, ROPS, Hy flow Hydr. $26,510.00 $31,812.00 Sweepster LH Power Broom, SN 906295, For Case 1840(1845C $ 3,575.00 $ 4,290.00 Bradco 11 HD Backhoe, SN 81H8H990, For Case 1840(1845C $ 8,580.00 Rockhound 60A Landscape Rake, SN A930912002 For Case 1840(1845C $ 6,435.00 Rockhound 60A Landscape Rake, SN A94051090 For Case 1840/1845C $ 6,435.00 McMillen X1850 Earth Auger, 5N not found, For Case 1840(1845C, several augers $ 2,915.00 Anbo Snowblade, SN 172, for Case 1840(1845C Hydraulic angle $ 2,970.00 Construction attachment Corp Grapple Bucket, SN 2306A for Case 1840(1845C, with teeth $ 3,080.00 Erskine 2418 Snowblower, SN 3324 for Case 1840/ 1845C $ 4,730.00 Bradco Trencher, for Case 1840/1845C $ 4,730.00 Farmall H Tractor, SN 36359, reconditioned $ 4,950.00 Farmall M Tractor, SN 145643, reconditioned$ 5,280.00 Ford 917L Flail Mower, SN not found, 3 point, 5' width $4,730.00 Woods 316 Rotary Mower, SN not found, pull Type batwing $ 9,460.00 Taylor(Pittsburgh 265 Rotary mower, SN 1046508H 3 pt., 84" width $ 1,760.00 Taytor(Pittsburgh 265 Rotary mower, SN 1046508H 2 pt., 84" width $ 1,760.00 Taylor/Pittsburgh 940 Tiller, SN 0497, 3 pt. 6' width $ 1,980.00 $10,296.00 $ 7,722.00 $ 7,722.00 $ 3,498.00 $ 3,564.00 $3,696.00 $ 5,676.00 $5,676.00 $ 5,940.00 $ 6,336.00 $5,676.00 $11,352.00 $ 2,112.00 $ 2,112.00 $2,376.00 Brillion X10B Cultipacker, SN 158747, Xfold, pull type $ 9,350.00 $11,200.00 Brillion XI08 Cultipacker, SN 157287, Xfold, pull type $ 9,350.00 $11,200.00 Brillion Cultimulcher, no model, SN not Found, 24' folding type $16,060.00 $19,272.00 Case-IH 5500 Chisel plow, SN not found, 3 pt., 17 shank $ 8,580.00 $10,296.00 Case-IH 5500 Chisel Plow, SN not found, 3 pt., 13 shank $ 6,930.00 $ 8,316.00 Case-IH 5700 Chisel Plow, SN 0009574, 3 pt., 13 shank, gauge wheels $ 7,590.00 $ 9,108.00 IH 720 Moldboard Plow, SN U007339, Semi-mount, 6 bottom, coulters $ 7,150.00 $ 8,580.00 IH 720 Moldboard plow, SN U0022750, Semi-mount, 6 bottom, coulters $ 7,150.00 $ 8,580.00 IH 710 Moldboard Plow, SN Ullll#l, Semi-mount, 5 bottom, coulters $ 6,050.00 $ 7,260.00 IH 710 Moldboard Plow, SN U111#2, Semi-mount, 5 bottom, coulters $ 6.050.00 $ 7,260.00 IH 450 Moldboard Plow, SN not found, 3 pt., 3 bottom, coulters $ 3,520.00 $ 4,224.00 IH 450 Moldboard Plow, SN not found, 3 pt., 3 bottom, coulters $ 3,850.00 $ 4,620.00 IH 6500 Coulter Chisel Plow, SN not found, Pull-type, 9 shank $ 7,260.00 $8,712.00 Brillion Sts. 121 Field cultivator, SN 155058, Pull-type, 20' width, s-tine $ 6,050.00 $ 7,260.00 ARPS AB 350 Blade, SN 2547, 3 pt. 8' width $ 1,540.00 $ 1,848.00 New Holland 80 Bale Carrier, SN 460977, 3 pt., hydraulic $ 1,430.00 $ 1,716.00 Sovema S180S Tiller, 3 pt., 6' width $ 1,540.00 $ 1,848.00 Danuser F-8 Earth Auger, SN not found, Several augers, 3 pt. $ 2,310.00 $2,772.00 Danuser MDH1 Post Driver, SN not found, 3 point, hydraulic $ 2,200.00 $ 2,640.00 Danuser MS-1 Woodsplitter, SN 811 $ 1,320.00 $1,584.00 IH 3082A Backhoe, SN 1111,3 pt., Extra buckets $ 5,170.00 $ 6,204.00 Danuser F-8 Earth Auger, SN not found, 3 pt. Like new condition, several augers $ 2,530.00 $ 3,036.00 Gill Soil Preperator, SN not found, 3 pt., 6' width $ 1,870.00 $ 2,244.00 ARPS Stone Rake, SN not found, 3 pt., 7' width, Hydr. Angle $ 1,980.00 $ 2,376.00 Lilliston 9680 No-Till Grain Drill, SN 6500, 18 x 7 configuration, grass seeder $12,980.00 $15,576.00 IH 400 Corn Planter, SN not found, 6 row Narrow, dlY fertilizer, no-till $ 5,500.00 $ 6,600.00 IH 5100 Grain Drill, SN not found, 18 x 7 Combination grass seeder $ 6,930.00 $ 8,316.00 Krause 1922 Disk Harrow, SN 3535, Folding tandem type, C-spring, recond. $13,530.00 $16,236.00 Krause 1924 Disk Harrow, SN 3946, Folding tandem type, C-spring, recond. $13,750.00 $16,500.00 Brillion Sts. 121 Field Cultivator, SN 155059, Pull-type, 20' width, s-tine $ 6,050.00 $ 7,260.00 Athens 131 Disk Harrow, SN F75481, pull-type, Dual wheels, 13' width $ 6,600.00 $ 7,920.00 Athens 131 Disk Harrow, SN C7761, pull-type, Dual wheels, 13' width $ 6,820.00 $8,184.00 Krause 2887 Coulter Chisel Plow, SN 1228, Pull-type, 7 shank $9,570.00 $11,484.00 Brillion Sct52 Subsoiler, SN 157113, V-ripper, 5 shank, shear bolt $ 5,830.00 $ 6,996.00 IH 5000 SP Windrower, SN C001133, diesel, 12' width, reconditioned $19,250.00 $23,100.00 IH 60 Shredder, SNU000614, pull-type, Reconditioned $ 9,020.00 $10,824.00 Case-IH 1190 Mower Conditioner, SN U202216, Pull type, 9' width $ 8,030.00 $ 9,636.00 Case-IH 1190 Mower Conditioner, SN 001721 Pull type, 9' width $ 8,030.00 $ 9,636.00 Case-IH 3450 Round Baler, SN U001721, 4 x 5 ba Ie $ 9,900.00 $11,880.00 Case-IH 3650 Round Baler, SN U000964, 5 x 6 bale $12,320.00 $14,784.00 IH 445 Square Baler, SN U003043, w(#15 Th rowe r $ 6,270.00 $ 7,524.00 $ 3,080.00 $ 3,696.00 $ 3,080.00 $ 3,696.00 $ 1,540.00 $1,848.00 $ 6,270.00 $ 7,524.00 IH 35 Hay rake, 5N not found IH 35 Hay t-ake, 5N not found IH Dual Rake Hitch IH #8 Flail Chopper, SN U004176 IH 1300 Mower, SN U9545, 3 pt., sickle Bar type $ 3,850.00 $ 4,620.00 Home-built Hay Wagons (6 total) $13,200.00 $15,840.00 Home-built Flat Wagon, with hoist $ 2,200.00 $ 2,640.00 Demco RG10 Wagon Gear, SN not found, 10 ton, extendable tongue, tires q wheels $ 1,650.00 $ 1,980.00 Demeo RG10 Wagon Gear, SN not found, 10 ton, extendable tongue, tires q wheels $ 1,650.00 $ 1,980.00 Demco RG10 Wagon Gear, SN not found, 10 ton, extendable tongue, tires Er wheels $ 1,650.00 $ 1,980.00 Woods BB700 Box Scraper, SN 1724, 3 pt. With scarifiers $ 2,310.00 $ 2,772.00 3 Mise. trailers $ 6,600.00 $ 7,920.00 Mise. Buckets, weights Er loose attachments $ 3 3,000.00 $39,600.00 Cub Cadet 2072 Tractor, SN 766203, 1919 Hours, w( Peco Vac, 50" deck $ 7,260.00 $ 8,712.00 Cub Cadet 2072 Tractor, SN 766668, 1720 Hours, with 50" deck $ 5,280.00 $ 6,336.00 Cub Cadet 2072 Tractor, SN 766201, 1812 Hours, with 50" deck $ 4,950.00 $ 5,940.00 Cub Cadet 2072 Tractor, SN 791476,589 Hours, wfPeco Vac, 50" deck $ 7,590.00 $9,108.00 Cub Cadet 2082 Tl-actor with 50" deck $ 5,830.00 $ 6,996.00 Troy Silt Horse Rototiller, 8hp. Kohler Engine $ 1,760.00 $ 2,112.00 Hardi TR53 Sprayer, SN 89-10072, pull- type, boom handgun $ 2,420.00 $ 2,904.00 Hardi TR53 Sprayer, SN 86-10049, pull- type, boom handgun $ 2,200.00 $ 2,640.00 \VW Renegade Chipper(Shredder, like new $ 2,530.00 $ 3,036.00 Gandy Turf Tender Fertilizer Spreader, pull- type, 42" width $ 1,210.00 $1,452.00 Raps for 1066 Tractor $ 1,650.00 $ 1,980.00 Gravity Bin Wagons (4 total) $12,540.00 $15,048.00 IH 1700 Truck, SN 416080G402317, Dump truck $ 4,950.00 $ 5,940.00 Cam Spray Pressure Washer $ 2,420.00 $ 2,904.00 Unknown Pressure Washer $ 1,430.00 $ 1,716.00 Misc. Items used in lawn care $10,450.00 $12,540.00 TOTAL $800.580.00 $960,696.00 \Vhitetail Deer Description Current. Val. 448 racks mounded on plaques, average value $1,500 (will be $1,800) $672,000.00 105 racks not mounted on plaques, average value $1,300 (will be $1,600) $136,500.00 15 life-size mounts, average value $5,500 (will be $7,500) $ 82,500.00 826 shoulder mounts, average value $5,000 (will be $6,000) $4,130,000.00 30 sets still at taxidermist, average value $1,300 (will be $1,800) $ 39,000.00 25 capes @ $500 each $ 12,500.00 Total $5,072,500.00 Est Future Value $ 806,400.00 $168,000.00 $112,500.00 $4,956,000.00 $ 54,000.00 $ 12,500.00 $6,109,400.00 .2- -'I;.2? L!" INSTALLMENT SALES AGREEMENT 2.5 THIS INSTALLMENT SALES AGREEMEr-..'T, made and entered into this _____~!_ day of August, 2000, by and between LB. PHILUPS, JR., widower, of 93 Enck's Mill Road, Carlisle, Cumberland County, Pennsylvania, party of the first part, hereinafter referred to as "Seller," AND KARL E. ROMINGER, of 231 North East Street, Carlisle, Cumberland County, Pennsylvania, party of the second part, hereinafter referred to as "Purchaser," as follows: 1. Sale. The Seller agrees to sell and the Purchaser agrees to purchase the following described property: ALL THAT CERTAIN lot of ground, with improvements erected thereon, situate in the Second Ward of the Borough of Carlisle, Cumberland County, Pennsylvania, more particularly bounded and described as follows, to wit BEGINNING at a point on the eastern building line of South Hanover Street at the dividing line between the property described herein and that now or formerly of William M. McCullough on the south; thence by said line, North a distance of twenty- one (21) feet Three (3) inches to the dividing line between the property herein described and that now or late of Charles W. Gensel on the north; thence east by the latter property, a distance of Two hundred forty-three (243) feet, more or less, to a point at the line of land now or late of James E. Gutshall; thence south by the latter J property, a distance of Twenty-one (21) feet Three (3) inches to a point at the dividing line between the property herein described and that nor or late of Charles . C. Hoffer on the south; thence west, a distance of of Two hundred forty.three (243) feet, more or less, along land now or formerly of Charles C. Hoffer and land now or formerly of William M. McCullough to a point on the eastern building line of South Hanover Street, the Place of BEGINNING. Being improved with a 2 ~ story brick house known as No. 155 South Hanover Street, Carlisle, PA, containing commercial offices and two apartments. 2. Price and Terms of Payment. The Purchaser agrees to pay for the premises, and the Seller agrees to accept as the purchase price therefor the sum of One hundred eighty-five thousand and 00fl00 ($185,000.00) Dollars to be paid as follows: a. Four Thousand ($4,000.00) Dollars on the signing and delivery of this Agreement, the receipt of which is hereby acknowledged; and b. The remaining Two hundred twenty thousand ($181,000.00) Dollars in monthly payments of One thousand three hundred ninety-one and 73f100 ($1,391.73) Dollars beginning on the first day of October, 2000, and a like sum on the first day of each and every month thereafter through and including September 1, 2005. The sixty (60) said monthly installments are to be applied, first to the payment of interest on any unpaid balance of the purchase price at the rate of eight and one-half per centum per annum (8.50%) and second, to the reduction of the principal amount of the purchase price, but this provision for amortization of principal shall not be construed as extending the maturity date beyond September 1, 2005. c. Purchaser hereby acknowledges that at the end of the abovementioned five (5) year payment schedule, Purchaser must pay in full the then remaining unpaid balance. If Purchaser fails to make this final payment, ~~~!, 65:) P,\l.E 1.0 G3 EXHIBIT I 6 Purchaser may lose the property, plus any improvements erected thereon, and/or incur further costs, charges, or expenses pursuant to Paragraphs 3 and 14, herein. Purchaser recognizes, by way of example only, that if all of tne abovementioned monthly payments are timely made, and no additional principal amount is paid, Purchaser must pay to Seller on September 1, 2005 the then remaining unpaid balance of .$172,837.38, in addition to the final monthly payment of principal and interest which will be due on that day. d. All payments shall be made to Seller at whatever address is designated in writing, and until further notice at 93 Enck's Mill Road, Carlisle, PA. 3. Late Charges. A late charge of $2.00 per day for each day that a payment is past due shall be paid by Purchaser. Seller may accept any late payment and defer demand and collection of late fees until the satisfaction in full of this Installment Sales Agreement. 4. Deed upon Full Payment. Upon payment of the entire purchase price due Seller, plus any interest or late charges which may have accrued, Seller shall, at Seller's eKpense, draft, execute, acknowledge and deliver to Purchaser a General Warranty Deed conveying title to said premises in fee simple, free and clear of all liens and encumbrances excepting easements and restrictions visible or of record and excepting any easements, restrictions, liens or other encumbrances created by the Purchaser either intentionally, or through default in the performance of the obligations under this Agreement, or other default or act of Purchaser. 5. Current TItle. Purchaser hereby stipulates that he has reviewed Seller's title and that Purchaser 'finds said title to be good and marketable to the date of this Agreement and accepts the same as if he was accepting the final deed for the premises on the date of this Agreement. Purchaser shall not be permitted to make any objection to Seller's title for any matter except those which might arise after the date of this Agreemrt. 6. pro-ratiot" Real estate taxes for the current year, and any water or sewer rates shall be pro:fated to the date of settlement on this Agreement. 7. Special Assessments. Any special assessments made prior to the date of settlement on this Agreement, shall be paid by the Seller and any special assessments made after the date of this Agreement shall be paid by the Purchaser. 8. Possession and Purchaser's Responsibilities. Purchaser shall have possession of the premises as of September I, 2000, subject to existing tenancies, and shalt be solely responsible for any and all real estate taxes, municipal assessments or special assessments, and all water or sewer charges accruing after the date of this Agreement. In the event that the Purchaser shall fail to pay any of said expenses, the Seller may pay the same and deduct said payments from the amount Purchaser has paid on account of the purchase price of said premises and should a default on the payment of the purchase price arise on account of said deduction, Seller shall have any and all of the rights and remedies afforded to said Seller by this Agreement for the occurrence of a default Seller shall assign all leases for portions of the premises subject to this agreement, without recourse, as of September 1, 2000. All security deposits in connection with said leases, shall also be transferred to Purchaser as of September 1, 2000. Upon execution of this agreement, Purchaser's Jease with Seller shall be terminated. ~~~:\ G5:) ,Ai,E lOG4 ..-- 9. Transfer Taxes and Recording Fees. When legal title is taken by Purchaser, Seller shaH pay one-half of the transfer taxes then in effect up to a maximum of an amount equal to One (1%) percent of the total purchase price contained herein; provided, however, that if Purchaser shaH request that the deed be made to a third party, Seller shall be relieved from the payment of any transfer tax and transfer tax shall be paid by the Purchaser and the third party according to the terms of their agreement. Purchaser shall pay any recording fees incurred in the recording of the nnal deed. 10. Seller's Encumbrances. Seller shall have the privilege of encumbering the premises which are the subject of this Agreement by a mortgage or otherwise provided that at no time may any such encumbrances exceed the unpaid principal balance of this Agreement, and, if Seller should default in making any payments which may be required in connection with any such mortgage or other encumbrance, the Purchaser shaH have the privil~~ paying any sums payable pursuant to this Agreement directly to such encumbraJe holder. 11. Liability to Third Persons. (a) Purchaser shall insure, defend and indemnifY Seller from any liability for injury or damages to third persons as a result of accidents or other occurrences upon the premises which are the subject of this Agreement whether or not said injury or damage is a result of a condition existing at the time of this Agreement or which comes into existence thereafter. (b) Purchaser agrees that at its expense at all times during the term of this Agreement or any extensions, it shall keep in effect a policy of public liability and property damage insurance insuring Seller and Purchaser against any and all claims of personal Injury or property damage in amounts not less than One Million Dollars ($1,000,000.00) in the aggregate and Five Hundred Thousand Dollars ($500,000.00) for each occurrence. The amount of said insurance shall be adjusted every five (5) years to amounts which the parties may agree upon at that time, or failing such agreement, to equivalent amounts adjusted for inflation as calculated by Purchaser's insurance carrier, but in no event ever less than One Million Dollars ($1,000,000.00) in the aggregate and Five Hundred Thousand Dollars ($500,000.00) for each occurrence. This insurance policy shall be issued by a reliable insurance company approved by Seller and a copy of the policy delivered to Seller. 12. Waste and Removal of Buildings. The Purchaser shall not remove or permit the removal from the property of any building or other improvement, or part of any building or improvement located thereon without the consent of the Seller in writing, nor shall the Purchaser commit or permit to be committed any waste of the property or of any building or improvement thereon. 13. Prepayment. Purchaser shall have the privilege of paying as much more than the required monthly installments of principal and interest as desired, and nothing contained in this Agreement shall be construed to limit the reduction of principal by.the amount of said prepayment. Interest shall be computed on the unpaid principal balance. Ill-. Remedies. In the event of default by the Purchaser in the payment of any required payment for a period of thirty (30) days after the same shall have become due and payable by the terms of this Agreement, or if a breach of any of the bGG~ 853 PA(,[ tOG.') --------- .- r- conditions of this Agreement shall be made by the Purchaser and shall continue for a period of thirty (30) days after written notice is sent by Seller, then the entire principal sum remaining unpaid shall become due and payable at once and the Seller may, at the Seller's sole option, select anyone or more than one of the following remedies: (a) (i) Demand immediate possession of said premises upon thirty (30) days written notice, (which written notice may be given prior to, or contemporaneously with, the expiration of the 30-day default period mentioned above), and thereupon have all rights and obligations under this Agreement cease and terminate. Upon such declaration a\l periodic payments made by the Purchaser and the down payment made by the Purchaser shall be retained by the Seller as rent or as Ii'luidated damages. If Seller shall exercise his rights under this Paragraph 14(a) then all improvements made by Purchaser to the premises, and all expenditures made by Purchaser on account of the premises (including. by way of example only. all prior real estate taxes paid and prepaid real estate taxes and insurance) shall be retained by Seller as liquidated damages. Purchaser shall also, at Seller's request, execute a general release or quit claim deed in favor of Seller of Purchaser's interest in the premises. If the remedy of Seller provided in this subparagraph 14.(a) is elected by Seller and satisfied without dispute by Purchaser, including the execution of any requested release, or quit claim deed, and Purchaser peacefully removes himself and his belongings from the premises and leaves the premises in the condition it was in when he received it, normal wear and tear excepted, then this shall be the sole remedy of Seller and the entire principal sum remaining unpaid shall be forgiven. (il) That if the Purchaser is in possession of the premises at the time that the Seller declares this Agreement terminated, Purchaser hereby authorizes any attorney, as attorney for Purchaser, to sign an agreement for entering in any court of competent jurisdiction an amicable action in ejectment against Purchaser and all persons claiming under him, for the recovery by Seller of the possession of the premises. for which this shall be sufficient warrant; and thereupon a Writ of Possession may issue forthwith, without any prior proceedings whatsoever and Purchaser hereby releases Seller from errors and defects in entering such action in ejectment, or causing such Writ of Possession to be issued or any proceedings thereon, or concerning the same and hereby agrees that no Writ of Error, objection of exception. shall be made or(aken thereto. (b) Collect by~t or otherwise the entire unpaid principal plus unpaid interest, together with interest at the rate of Eight and one-half (8.50%) per centum per annum, costs of any suit, and attorney's fees at the rate of five (5%) percent of the amount of final Judgment or $300.00, whichever is greater; and the prothonotary or any attorney of any court of record of Pennsylvania or elsewhere is hereby authorized and empowered to appear for and confess judgment against the Purchaser and in favor of the Seller for the whole amount of said principal sum remaining unpaid, together with interest, costs of suit, release of errors. attorney's fees at the rate of five (5%) percent of the amount of final judgment or $300.00, whichever is greater, and waiving inquisitions and exemptions. (c) Recover all costs incurred in proceedings in either ejectment or to collect under this Agreement including reasonable attorney's fees not recovered under the provisions of subparagraph (b), above. eG~K (;5:> rAcE LOGG -- 20. Inspection. Tne Seller snail have the right to enter and inspect the property and the buildings and improvements thereon at least once each calendar month, during normal business hours. 21. Alterations. The Purchaser shall not renovate, remodel, or alter any building or Improvement now or hereafter situated on the property, or construct any additional building. buildings, or improvements on the property without first giving written notice and submitting plans for such renovating. remodeling, or construction to the Seller and obtaining the Seller's approval in writing of such plans. Seller's approval shall not be unreasonably withheld. 22. Environmental Laws. (a) Environmental Compliance. Purchaser shall, at Purchaser's own expense, comply with any current or hereinafter enacted environmental-<:leanup responsibility laws affecting Purchaser's operation at the premises ('Cleanup LaWS) or othenvise affecting the premises, whether the cause originated before or after the date of this Agreement. Purchaser shall, at purchaser's own expense, make all submissions to, provide all information to, and comply with all requirements of the appropriate governmental authority (the "Authority') under the Cleanup Laws. Should the Authority determine that a cleanup plan be prepared and that a cleanup be undertaken because of any spills or discharges of hazardous sL.lbstances or wastes at the premises then Purchaser shall, at Purchaser's own expense, prepare and submit the required plans and financial assurances, and carry out the approved plans, At no expense to Seller, Purchaser shall promptly provide all information requested by Seller for preparation of affidavits required by Seller to determine the applicability of the Cleanup Laws to the premises, and shall sign the affidavits promptly when requested to do so by Seller. Purchaser shall insure, defend, indemnifY and hold harmless Seller from all fines, suits, procedures, claims and actions of any kind arising out of or in any way connected with any spills or discharges of hazardous substances or wastes at the premises whenever the same may have occurred; and from all fines, suits, procedures, claims and actions of any kind arising out of the Purchaser's failure to provide all information, make all submissions and take all steps required by the Authority under the Cleanup Laws or any other environmental law. Purchaser's failure to abide by the terms of this section shall be restrainable by injunction. (b) Environmental Reports. Purchaser shall promptly supply Seller with copies of any notices, correspondence and submissions made by Purchaser to the appropriate governmental authority of the State (the "Authori~'), the United States Environmental Protection Agency ('EPA'), the United States Occupational Safety and Health Administration ("OSHA'), or any other local, state or federal aL.lthority that requires submission of any information concerning environmental matters or hazardous wastes or substances. 23. severability:~ould any provision of this Agreement be declared null or void, the remainder ofeis Agreement shall continue to be in force and effect. 24. Written Amendment. No modifications or amendment of this Agreement shall be binding unless the same shall be in writing and signed by all the parties to this Agreement. 25. Binding Effect. This Agreement is to extend to and be binding upon the heirs, beneficiaries, distributees, successors, executors, administrators and assigns, of the parties hereto. bGGX GS:l ,'.Ic[ UlG8 '- noo<::rn:. ZIEGLER REGOI/ocr. 01' DEEDS ~;u 1.\ BEflLtdlD COUWiY - PA COMMONWEALTH OF PENNSYLVANIA 'DO SEP 1 APlID 13 5S: COUNTY OF CUMBERLAND On this, the ~C3~ay of August, 2000, before me, the undersigned officer, persDnally appeared Karl E. Rominger, known to me or satisl'llctorily proven, to be the persons whose names are subscribed to the within inrtrument, and acknowledged that they have executed the same for the purposes therein contained. IN WITNESS WHEREOF, [ hereunto set my hand and official seal. ~,' :~;lt. ", ~. <' '1'~~' " , ., :i . P ;,.~~~~:' /,. r "IJ." : I,. ;. ~.~\...,.'~' '...~,.. . Ill. ., Stat, at ?cnnsyl.ania } CCIJr.;y of Cumh.rland R":.d, ,:.,d in th. oHlc. for the recording of O.ad. llf.L 11\ 'Wd for (~3berl'nd County, Pa'IOb:) i~ Book Vol. ::::::. P.ge ~ witn... my h.nd .nd .1111 of offica Carli~.. PA Ihi. day of %CK 65.1 r~,~E to/'O VERIFICATION The foregoing Answer to Petition for Reliefbased upon information which has been gathered by my counsel in the preparation ofthe lawsuit. The language ofthe document is that of counsel and not my own. I have read the document and to the extent that it is based upon information which I have given to my counsel, it is true and correct to the best of my knowledge, information and belief. To the extent that the content of the document is that of counsel, I have relied upon counsel in making this verification. This statement and verification are made subject to the penalties of 18 Pa. C.S. Section 4904 relating to unsworn falsification to authorities, which provides that if! make knowingly false averments, I may be subject to criminal penalties. \.i!~-"~)l-={ ,A - :7__~ ~- ~J tr'. " t ! "- Robert G. Frey . J CERTIFICATE OF SERVICE L Mary M. Price, an authorized agent for Martson Deardorff Williams & Otto, hereby certifY that a copy of the foregoing Answer to Petition for Relief was served this date by depositing same in the Post Office at Carlisle, P A, first class mail, postage prepaid, addressed as follows: Neil Warner Yahn, Esquire JAMES SMITH DIETTERICK & CONNELLY, LLP P.O. Box 650 Hershey, P A 17036 MARTS ON DEARDORFF WILLIAMS & OTTO , II! ;i' ) B 'J '", ,"I ' y I~\"'l \, ,/'"0 ," ( Mary M. Price Ten East High Street Carlisle, P A 17013 (717) 243-3341 Dated: / l(/