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Home My WebLink About07-11-06 -.J 15056051058 REV-1500 EX (06-05) PA Department of Revenue '* Bureau of Individual Taxes PO BOX 280601 Harrisburg, PA 17128-0601 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death INHERITANCE TAX RETURN RESIDENT DECEDENT OFFICIAL USE ONLY County Code Year File Number 21 05 0491 Date of Birth 193-12-8844 05/19/2005 11/09/1918 Decedent's Last Name Suffix Decedent's First Name MI WESTCOTT CAMILLA R (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI n/a Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS Fill IN APPROPRIATE OVALS BELOW . 1. Original Return 2. Supplemental Return 4. Limited Estate . 3. Remainder Return (date of death prior to 12-13-82) 5. Federal Estate Tax Return Required 4a. Future Interest Compromise (date of death after 12-12-82) 7. Decedent Maintained a Living Trust (Attach Copy of Trust) 10. Spousal Poverty Credit (date of death 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number . 6. Decedent Died Testate (Attach Copy of Will) 9. Litigation Proceeds Received 8. Total Number of Safe Deposit Boxes Manufacturers and Traders Trust Company Firm Name (If Applicable) (717) 240-4504 REGISTER OF WILLS USE ONLY Attn. Jane F. Burke, Vice President First line of address One West High Street Second line of address P.O. Box 220 City or Post Office State ZIP Code DATE FILED Carlisle PA 17013 Correspondent's e-mail address: Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. DATE SIGNATUREt_i . ;=:,:_rr3J.iS:jrO:Q?:G_RE~U~:__ ADDRESS i One;~1:)tl!~g;h Stree~,._Car~i_~le, SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE PA 17013 DATE ADDRESS PLEASE USE ORIGINAL FORM ONLY Side 1 L 15056051058 15056051058 ---I (,; --.J 15056052059 REV-1500 EX Decedent's Name: CAMILLA R WESTCOTT RECAPITULATION 1. Real estate (Schedule A). ....... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1. 2. Stocks and Bonds (Schedule B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) . . . .. 3. 4. Mortgages & Notes Receivable (Schedule D) . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) . . . . . . .. 5. 6. Jointly Owned Property (Schedule F) Separate Billing Requested . . . . . .. 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) Separate Billing Requested.. . . . . .. 7. 8. Total Gross Assets (total Lines 1-7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 8. 9. Funeral Expenses & Administrative Costs (Schedule H). . . . . . . . . . . . . . . . . . . .. 9. 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I). . . . . . . . . . . . . . . . 10. 11. Total Deductions (total Lines 9 & 10)................................... 11. 12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. 13. Charitable and Govemmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . . . . . . . 13. 14. Net Value Subject to Tax (Line 12 minus Line 13) ........................ 14. TAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .0_ 16. Amount of Line 14 taxable at lineal rate X.O 45 3,153,242.72 17. Amount of Line 14 taxable at sibling rate X .12 18. Amount of Line 14 taxable at collateral rate X .15 19. TAX DUE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT L 15056052059 Side 2 15. 16. 17. 18. 193-12-8844 Decedent's Social Security Number 564,000.00 3,517,547.78 0.00 0.00 615,125.12 0.00 260,858.43 4,957,531.33 177 ,895.27 25,474.30 203,369.57 4,754,161.76 0.00 4,754,161.76 141,895.92 141,895.92 .. 15056052059 --.J REV-1500 EX Page 3 File Number Decedent's Complete Address: DECEDENT'S NAME CAMILLA R WESTCOTT c-__ ~____ ___ ___~___~___________ STREET ADDRESS 1295 Creek Road 21 05 0491 DECEDENT'S SOCIAL SECURITY NUMBER 193-12-8844 -- CITY Carlisle ! STATE ! PA --------~ 17013 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payments A. Spousal Poverty Credit 8. Prior Payments C. Discount (1) 141,895.92 205,838.31 -----_.__....,..._--_..--_...~.- 5,263.16 Total Credits ( A + 8 + C ) (2) 211,101.47 3- Interest/Penalty if applicable D. Interest E. Penalty --~-- ----~ Total Interest/Penalty (0 + E ) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 0.00 69,205.55 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. A. Enter the interest on the tax due. (5) (5A) (58) 8. Enter the total of Line 5 + 5A. This is the BALANCE DUE. Make Check Payable to: REGISTER OF WILLS, AGENT 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 liJ b. retain the right to designate who shall use the property transferred or its income; ..............................._............ D liJ c. retain a reversionary interest; or.........._.........._..............__._.............._....................................................._............. D [i] d. receive the promise for life of either payments, benefits or care? _..................................................................... D liJ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .......-.................................................................._................................... D liJ 3- Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .........._... D liJ 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ..-...........................................................................................__.._.................____ [K] D IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. S9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. 99116 (a) (1.1) (ii)). The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000; The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 PS. 99116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. 99116(1.2) [72 P.S. s9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. s9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1502 EX+ (6-98)~.~_ ~JF COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21-05-0491 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION 1295 Creek Road, West Pennsboro Township, Carlisle, PA 17013 VALUE AT DATE OF DEATH 475,000.00 2 Appraisal Attached 207 Grahams Woods Road, West Pennsboro Township, Carlisle, PA 17013 89,000.00 Appraisal Attached TOTAL (Also enter on line 1, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 564,000.00 REV-1503 EX+ (6-98) SCHEDULE B STOCKS & BONDS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21-05-0491 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. VALUE AT DATE OF DEATH 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 DESCRIPTION 11445.438 shs. Vanguard Insured Long Term Tax Exempt Fund 58 146,730.52 564.55 2 Dividend on Item 1 3 32473.27 shs. Dreyfus Municipal Bond Fund 54 387,741.44 4 21983.486 shs. T. Rowe Price Tax Free High Yield Fund 262,482.82 153,572.54 5 11705.224 shs. Fidelity Spartan Municipal Income Fund 6 Dividend on Item 5 533.86 7 15942.631 shs. Fidelity PA Tax Free Portfolio High Yield 175,687.79 1,874.50 8 460 shs. Dynegy, Inc. 9 1308 FNB Corp. 24,747.36 M& T Bank Corp. 466,445.84 220 shs. PPL Corp. 12,233.10 1,232.10 25.35 15 Pennsylvania Insured Municipal Income Fund Series 5S Dividend on Item 12 25 shs. Pennsylvania Insured Municipal Income Trust Series 89 S 3,853.25 123.75 Dividend on Item 14 30 shs. Pennsylvania Inusred Municipal Income Trust 6326 Mul. S 7,676.70 235.80 Dividend on Item 16 50 shs. Pennsylvania Insured Municipal Income Fund Series 126S 9,377.00 205.50 Dividend on Item 18 10 shs. Pennsylvania Insured Municipal Income Fund Series 7 6,041.20 168.10 Dividend on Item 20 250 shs. Public Svc Enterprise Group 13,733.76 200 shs. Sempra Energy 7,760.00 1524 shs. SBC Communications, Inc. 36,118.80 100 shs. Marathon Oil Corp. 4,617.00 1,723,782.63 TOTAL (Also enter on line 2, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) REV-1503 EX+ (6-98) ~ COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE B STOCKS & BONDS ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21-05-0491 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Dividend on Item 25 28.00 2099 shs. BP PLC 125,835.05 1,070.49 Dividend on Item 27 $50,000 par Pennsylvania Hsg. Finance Agency 5.4% due 10/1/06 51,507.00 360.00 Interest to DOD Item 29 $45,000 par Ambridge PA Area School District GO 4% due 11/1/08 46,552.95 90.00 Interest to DOD Item 31 $15,000 par Windsor Twp. PA GO Bonds 2.5% due 12/15/08 14,810.10 Interest to DOD Item 33 160.42 $50,000 par Pleasant Valley PA School District 4.5% due 9/1/09 52,889.50 487.50 Interest to DOD Item 35 $25,000 par Merrick Bank Corp. 4.25% due 6/20/05 25,013.90 439.76 Interest to DOD Item 37 $50,000 par MBNA America Bank NA 7.25% due 5/19/05 50,168.85 1,349.31 30,323.85 101.25 Interest to DOD Item 39 $30,000 par Amcore Bank NA Rockford IL 6.75% due 11/1/05 Interest to DOD Item 41 $50,000 par Covest Banc NA Des Plaines, IL 3% due 1/9/06 49,799.70 541.67 Interest to DOD Item 43 $50,000 par Cross Country Bank Wilmington, DE 5.7% due 5/30/06 50,705.45 Interest to DOD ftem 45 1,337.92 30,440.97 $30,000 par Corus Bank NA Chicago, IL 5.75% 6/8/06 Interest to DOD Item 47 771.46 $25,000 par Providian National Bank, Tilton, NH 5.7% due 6/20/06 25,339.60 589.79 Interest to DOD Item 49 560,714.49 TOTAL (Also enter on line 2, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) REV-1503 EX+ (6-98) SCHEDULE B STOCKS & BONDS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21-05-0491 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH Interest to DOD Item 75 160.00 77 $40,000 par First Bank Thomson GA 4% due 11/19/09 $45,000 par Discover Bank Greenwood DE 4.5% due 3/23/10 38,957.20 78 44,642.52 79 Interest to DOD Item 78 315.00 80 4984.303 shs. Legg Mason Investment Trust Income 71,823.81 81 7745.161 shs. Legg Mason Value Trust Income 478,883.30 TOTAL (Also enter on line 2, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 634,781.83 REV-15GB EX+ (6-98) . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21-05-0491 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION M&T Bank, Money Market Accl. 15004200018982 2 M&T Bank, Checking Accl. 2674015280 VALUE AT DATE OF DEATH 34,796.75 50,629.75 3 Orrstown Bank, Checking Accl. 106002710 57,343.67 4 Orrstown Bank, Certificate of Deposit 4000001085 31,598.04 5 Commerce Bank, Certificate of Deposit 1100598 51,447.36 6 Citizens Bank, Acct. 6204299976 69,066.56 7 Citizens Bank, Acct. 6100652548 15,952.52 8 Legg Mason Wood, brokerage account money market balance 956.16 9 Legg Mason Wood, brokerage account money market interest to DOD 99.27 10 Nationwide Life & Annuity Insurance Co. 283,518.12 11 State of Illinois, Pension 667.78 12 Bequest from Estate of Laurence Westcott 5,000.00 13 Manor Care, refund 313.00 15 Coins, as appraised 3,012.00 321.36 14 Personal Property, as appraised 17 Cumberland Goodwill Fire Rescue EMS, refund 2,236.13 399.00 16 Thornwald Nursing Home, refund 19 Death Benefit, taxable portion Teachers Retirement System of Illinois 1,180.53 1,819.47 19.00 18 Death Benefit, non-taxable portion Teachers Retirement System of Illinois 20 Master Trust, refund liability insurance premium 21 Central Penn Medical, refund 278.65 22 2004 Federal Income Tax Refund 3,356.50 23 Proceeds sale 1993 Nissan Sentra 947.50 24 Tri-State Imaging Consultants, LLC, refund 166.00 TOTAL (Also enter on line 5, Recapitulation) $ 615,125.12 (If more space is needed, insert additional sheets of the same size) REV-1510 EX+ (6-98) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21 050491 This schedule must be completed and filed jf the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes. DESCRIPTION OF PROPERTY DATE OF DEATH ITEM INCLUDE THE NAME OF THE TRANSFEREE. THEIR RELATIONSHIP TO DECEDENT AND % OF DECD'S EXCLUSION TAXABLE NUMBER THE DATE OF TRANSFER. ATTACH A COpy OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IF APPLICABLE) VALUE 1. Jackson National Life Insurance Co. Annuity 008021709A, William W. 30,444.42 100 30,444.42 Westcott, Beneficiary 2 Western-Southern Life Annuity W0020737510, William W. Westcott, 77,304.21 100 77,304.21 Beneficiary 3 Western-Southern Life Annuity W0020598867, William W. Westcott, 60,117.69 100 60,117.69 Beneficiary 4 Ameriprise Financial Annuity 8044583535001, William W. Westcott, 60,820.35 100 60,820.35 Beneficiary 5 American Enterprise Life Insurance Co. Annuity 992005945830, 32,171.76 100 32,171.76 William W. Westcott, Beneficiary TOTAL (Also enter on line 7 Recapitulation) $ 260,858.43 (If more space is needed, insert additional sheets of the same size) REV-1511 EX+ (12-99) . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21-05-0491 Debts of decedent must be reported on Schedule I. ITEM NUMBER A. AMOUNT DESCRIPTION 1. FUNERAL EXPENSES: Egger Funeral Home Eby Granite Works 6,518.00 1,294.00 2 B. ADMINISTRATIVE COSTS: 10 11 12 1. Personal Representative's Commissions 108,275.00 Name of Personal Representative(s) Manufacturers & Traders Trust Company Social Security Number(s)/EIN Number of Personal Representative(s) 16-0538020 Street Address One West High Street City Carisle Year(s) Commission Paid: 2006 . State PA Zip 17013 2. Attorney Fees Roger M. Morgenthal, Esquire 54,137.50 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 1,335.00 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. Cumberland Law Journal, advertising Letters Testamentary The Sentinel, advertising Letters Testamentary Register of Wills, Short Certificates Rowe's Antiques, personal property appraisal SW. Barrett, real estate appraisal Reserve Closing and Filing Costs 75.00 129.77 196.00 85.00 850.00 5,000.00 8 9 177 ,895.27 TOTAL (Also enter on line 9, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) REV-1512 EX+ (12-03) SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETVRN RESIDENT DECEDENT ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21-05-0491 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. Pharmerica, pharmacy balance due 1,368.24 2 West Shore EMS-BLS, balance due 78.60 3 PPL, service 96.94 4 Marsh Advantage America Insurance, homeowner premium 420.00 5 M&T Bank, safe deposit box rental 26.00 6 State Farm Insurance, automobile premium 198.85 7 Thornwald Home, balance due 76.15 8 Miller Insurance Assoc., farmowners premium 918.50 9 Carlisle Regional Medical Center, balance due 912.00 10 The Brethren Mutual Insurance Co., insurance premium 160.00 11 Deborah W. Piper, Tax Collector, real estate taxes 1295 Creek Road, Carlisle property 1,584.03 1,037.63 2,306.00 2,607.00 29.60 12 Deborah W. Piper, Tax Collector, real estate taxes 207 Grahams Woods Road, Carlisle property 13 PA Department of Revenue, 2004 tax due PA 40 14 US Treasury, 2004 tax due 1040 15 Central Penn Medical Group, balance due 16 Smith Elliott Kearns & Co., LLC, income tax preparation 225.00 17 PA Dept. ofTransportation, duplicate title for 1992 Nissan Sentra 22.50 18 The Detail Shop, full detail Nissan Sentra 80.00 19 Roger M. Morgenthal, Esquire, Deed transfer costs 246.50 20 Stephen G. Fisher, real estate survey 12,700.00 21 Department of Vital Records, Death Certificates 54.00 22 PA Counseling Services, balance due 36.41 23 PA Department of Revenue, penalty for late payment of 2004 PA 40 290.35 25,474.30 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) REV-1513 EX+ (9-00) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF CAMILLA R. WESTCOTT SCHEDULE J BENEFICIARIES FILE NUMBER 21-05-0491 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE r TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1 Trust U/Will Camilla R. Westcott FBO William W. Westcott with Son 100% Charitable Remainder Beneficiaries ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET II NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ (If more space is needed, insert additional sheets of the same size) REV-1514 EX+ (12-03) SCHEDULE K LIFE ESTATE, ANNUITY & TERM CERTAIN Check Box 4 on REV-1500 Cover Sheet COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF CAMILLA R. WESTCOTT FILE NUMBER 21 050491 This schedule is to be used for all single life, joint or successive life estate and term certain calculations. For dates of death prior to 5-1-89 actuarial factors for single life calculations can be obtained from the Department of Revenue, Specialty Tax Unit. ' Actuarial factors can be found in IRS Publication 1457, Actuarial Values, Alpha Volume for dates of death from 5-1-89 to 4-30-99 and in Aleph Volume for dates of death from 5-1-99 and thereafter. ' Indicate the type of instrument which created the future interest below and attach a copy to the tax return. [BI Will 0 Intervivos Deed of Trust 0 Other LIFE ESTATE INTEREST CALCULATION NAME(S) OF LIFE TENANT(S) DATE OF BIRTH NEAREST AGE AT TERM OF YEARS DATE OF DEATH LIFE ESTATE IS PAYABLE William W. Westcott 06/17/1948 57 jgJ Life or o Term of Years o Life or o Term of Years o Life or o Term of Years o Life or o Term of Years o Life or o Term of Years 1. Value of fund from which life estate is payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 2. Actuarial factor per appropriate table ................................................. Interest table rate - 0 3 1/2% 06% 0 10% 0 Variable Rate 5.20 % 3. Value of life estate (Line 1 multiplied by Line 2) ......................................$ 4,493,303.33 0.64371 2,892,384.29 ANNUITY INTEREST CALCULATION NAME(S) OF LIFE ANNUITANT(S) DATE OF BIRTH NEAREST AGE AT TERM OF YEARS DATE OF DEATH ANNUITY IS PAYABLE o Life or o Term of Years o Life or o Term of Years o Life or o Term of Years o Life or o Term of Years 1. Value of fund from which annuity is payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 2. Check appropriate block below and enter corresponding (number) .. . . . . . . . . . . . . . . . . . . . . . . . . Frequency of payout - 0 Weekly (52) 0 Bi-weekly (26) 0 Monthly (12) o Quarterly (4) 0 Semi-annually (2) 0 Annually (1) 0 Other ( ) 3. Amount of payout per period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 4. Aggregate annual payment, Line 2 multiplied by Line 3 ................................... 5. Annuity Factor (see instructions) Interest table rate - 031/2% 06% 010% 0 Variable Rate % 6. Adjustment Factor (see instructions) .................................................. 7. Value of annuity - If using 31/2%, 6%, 10%, or if variable rate and period payout is at end of period, calculation is: Line 4 x Line 5 x Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . .$ If using variable rate and period payout is at beginning of period, calculation is: (Line 4 x Line 5 x Line 6) + Line 3 ..................................................$ NOTE: The values of the funds which create the above future interests must be reported as part of the estate assets on Schedules A through G of this tax return. The resulting life or annuity interest(s) should be reported at the appropriate tax rate on Lines 13 and 15 through 18. (If more space is needed, insert additional sheets of the same size) JUN, 13. 2006 6: 14AM DECEDENT: LIFE TENANT: RATES & FACTORS: M T TRUST ONE LIFE (Table S) ****************** NO. 22 3 7 P, 2 Date of Dea~h....... ....(mm/dd/yyyy] 05/19/2005 Mor~ality Table.... ...... .........F1 90 <-~Fl Help Date of Bir~h...... .... . (mm/dd/yyyy] 06/17/1948 Age at Deed Death (nearest birthday) 57 Sec. 7520 Rate. . . . . . . . . . . . . . . . . . . . FI Table S: Remainder Factor.. ..... Table s: Life Esta~e Fac~or..... Table S; Annuity Factor...... ... 5.2% 0.35629 0.64371 12.3791 S.IJ, ARRETT REAL ESTATE & APPRAISAL SEI ;ES '- '----: D ') - b:' '\ C, \ F~e No. 05-0343C APPRAISAL OF LOCATED AT: 1281-1295 Creek Road Carlisle, PA 17013 FOR: M & T Investment Group 3607 Derry Street Harrisburg, PA 17111 BORROWER: WESTCOTT Estate AS OF: May 19, 2005 BY: Steven W. Barrett, SRPA, SRA Certified General Appraiser S. W. BARRETT REAL ESTATE & APPRAISAL SERVICES Appraisals . Brokerage . Counseling 124-126 N. Hanover Street Carlisle, PA 17013-2455 Phone (717) 243-6646 FAX (717) 243-8627 Steven W. Barrett, SRPA, SRA, ASA State Certified General Appraiser A ~~~ @ August 15, 2005 Ryan E. Leppo, Trust Real Estate M & T Investment Group 3607 Derry Street Harrisburg, PA 17111 RE: 1281-1295 Creek Road Carlisle, P A 17013 Dear Mr. Leppo; The appraiser certifies that the subject property has personally been inspected, as you requested, to estimate its present value in a Summary Appraisal accordance with the Uniform Standards of Professional Appraisal Practice (USP AP). The value shown has been arrived at after careful study of the location and type of improvements, their present physical condition and their present use. Therefore, I we believe it to reflect a true measure of the present-day market value "As Of' May 19,2005. Value Reported: Nine Hundred Fifty Thousand Dollars $950,000 Fifty Percent Value For Estate Purposes: Four Hundred Seventy-Five Thousand Dollars $475,000 Fifty percent of the value would be appropriate for estate purposes. Should this property transfer a further discount would be appropriate for holding period and expenses involved. The appraiser also certifies that there is no financial interest, present or contemplated, in this property, and that neither the employment to make the appraisal nor the compensation therefrom is contingent upon the value reported. The report in its entirety includes the Analyzes, Certification, Special Conditions and Addenda, all of which constitute this Summary Appraisal. ~:J1? -tI- Steven W. Barrett, SRP A, SRA, ASA PA State Certified General Appraiser, GA-000298-L Pronertv Descrintion .e o. - Property Address 1281-1295 Creek Road City Carlisle State P A Zi Code 17013 leaalDescriotion Deed Book 248 Paae 3639 County Cumberland Assessor's Parcel No. 46-06-0029-014 Tax Year 04-05 R.E. Taxes $ 3818.00 Soecial Assessments $ N/ A Borrower WESTCOTT Estate Current Owner Westcott Occuoant: I I Owner I I Tenant IX I Vacant " Prooertv riohts aODraised I-l Fee Simple I I leasehold I Proiect Tyoe I I PUD il Condominium IHUD/VA onlv) HOA$ N/A /Mo. Neinhborhood or Pro'ect Name West Pennsboro Two. Mao Reference 06-0029 Census Tract 0128.00 Sale Price $ N/A Date of Sale N/A Description and $ amount of loan charaes/concessions to be naid bv seller N/ A lender/Client M & T Investment Group Address 3607 Derrv Street Harrlsbura PA 17111 Annraiser Steven W. Sarrett SRPA SRA Address 126 North Hanover Street Carlisle PA 17013 location DUrban ~ Suburban U Rural Predominant Single family housing Present land use % land use change Buill up 00 Over 75% o 25-75% 0 Under 25% occupancy PRICE AGE One family ~ o Not Ilkeiy o Likely $(000) (~'I Growth rate o Rapid 00 Stable o Slow 00 Owner ~low~ 2-4 family ~ 00 In process Property vaiues 00 Increasing o Stabie o Declining o Tenant 1 000 Hi h ~ 00 Multi-family ~ To: Residential Demand/supply R Shortage ~ In balanoe R Oversupp~ ~ Vacant(G-5%) 111III Predominant 111III Commercial 0% Marketinn time Under 3 mos. X 3-6 mos. Over 6 mos. Vacant over 5% 125 I 50 lVacant \ 35% Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries and characteristics: Subiect is bounded on the north bv Enola Road on the east bv Route 15 on the south bv . Pine Road on the west bv Mountain Road. . . Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, empioyment stability, appeal to market, etc.): . There are no adverse factors to affect marketabilitv of subiect. Diverse stable emolovment and all suooortino amenities are " within easy drivino distance. There are newer subdivisions within the subiect's marketino area' however stone farm houses are in demand. SMSA 3240 Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time -" such as data on competitive properties for saie in the neighborhood, description of the prevalence of sales and financing concessions, etc,): Prooertv values are currentlv stable with an averaae marketing time of 80-100 davs. Economic trends and lendina rates have remained favorable. Sales concessions occur infreauentlv. i Project Information for PUDs (If applicable) - - Is the developer/buiider in control of the Home Owners' Association (HOA)? U YES U NO . Approximate total number of units in the subject project N/A , Approximate total number of units for saie in the subject project N/A Describe common eiements and recreational facilities: N/A Dimensions See leaal descrintion Topography Level to slooino Site area 142.73 Acres +/- Corner lot lXf Yes LJ No Size Lamer than normal Specific zoning classification and description Aoriculture Shape Irreaular Zoning compliance 00 legal 1xl0 legal nOnCOnnin9 (Grandfathered use) U Iilegal o No zoning Drainage Appears adeouate Hiahest & best use as imoroved: X Present use Other use (exDlain) View Ooen countrv Utilities Public Other Off-site Improvements Type Public Private landscaping AVCl/Mature/Overarwn Electricity 00 Street Asphalt 00 0 Driveway Surface Gravel Gas 0 Curb/gutter None 0 0 Apparent easements None AOl'larent Water DWell Sidewalk None 0 0 FEMA Speciai Flood Hazard Area lxJ Yes lxJ No Sanitary sewer o Cesspool Street lights None R R FEMA Zone X, AE Map Date 03/04/1988 Storm sewer rl Ailey None FEMA MaD No. 421590 0005A Comments (apparent adverse easements, encroachments, speelal assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): See Attached Addendum GENERAL DESCRIPTION EXTERIOR DESCRIPTiON FOUNDATION BASEMENT INSULATION No. of Units 1 Foundation Stone Slab None Area Sq.Ft. 638 Roof 0 No, of Slories 2 Exterior Wails Stone OalliSpaoe Partial % Finished 0% Ceiling -0 Type (DeI.lAll.) Detached Roof Surface Metal Basement Partial Ceiling Ooen Joist Wails -0 Design (Style) 2 Storv Gullers & Dwnspts. Galvanized Sump Pump None Wails Stone Floor -0 Existing/Proposed Existino Window Type Double huna Dampness None Obs. Floor Gravel None -0 Age (Yrs.) 100 + SlormlScreens Storms/None Settlement None Obs. Outside Entry Yes Unknown ==00 . Effective Ane Yrs.\ 25-30 Manufactured House No Infestation None Obs. Sileo . ROOMS Faver Livina Dinina I<ilchen Den Familv Rm. laundrY . Rec. Rm, Bedrooms # Baths Other Area So.Fl. Basement level 1 x 1 1 1 .5 1604 . level 2 3 1 1376 . Finished area above nrade contains: 6 Rooms; 3 Bedroom s); 1.5 Bath!s); 2 980 Square Feet of Gross Livina Area INTERiOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE: Floors Wood/Caroet Type FHA Refrigerator 0 None 0 Fireplace(s) #~ 00 None 0 . Wails Plaster Fuel Oil Range/Oven 00 Stairs 00 Patio 0 Garage # of cars Trim/Finish Wood ConditionAva Disposal 0 Drop Stair 0 Deck 0 Allached Bath Floor Vinvl COOLING Dishwasher 0 Scullle 0 Porch 00 Detached Bath Wainscot Plaster Central None Fan/Hood 00 Fioor 00 Fence 0 Built-In Doors Wood Other None Microwave R Heated R Pool R Carport 1 Averane Condition ConditlonN/A Washer/Drver Finished Drivewav 4/Grvl Additional features (special energy efficient items, etc,): Three fireolaces one of which is blocked with furnace ductwork and kitchen fireplace has a wood stove Porch 20'x20' wash house/carport 24'x36' shed 44'x78' barn 32'x24' waoon shed. Condition of the improvements, depreciation (physicai, functionai, and external), repairs needed, quality of construction remodeling/additions, etc.: Subiect currentlv is taxed throuah the clean and areen oroaram oromotino the oreservation of aoriculturalland. Improvements are in average condition with no physical inadequacies apparent. Functional adjustment taken for cessoool versus conventional seotic svstem and second floor bath access. i Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or In the Immediate vicinity of the subject property: No adverse environmental conditions are al'lnarent/disclosed. SUMMARY APPRAISAL REPORT UNIFb-RM RESIDENTIAL APPRAISAL R~ORT F'! N 05 0343C IXldieMacForm70 6-93 PAGE 1 OF 2 Producld usinll ACI soltwar., eOO.23~.a72r www.lclw,b.COl1'1 Fannia Mae FOI'm 1004 6.93 '~ ADDENDUM Borrower: WESTCOTT Estate Property Address: 1281-1295 Creek Road City: Carlisle Lender: M & T Investment Group File No,: 05-0343C Case No,: State: PA Zip: 17013 Site Comments Subject has a cesspool. Well/Septic common for area and have no adverse affect on marketability. There are no adverse easements, encroachments or other adverse conditions. NW section of acreage is in flood zone, improvements appear to be out of flood zone. Addendum Page 1 of 1 Valuation Section SUMMARY APPRAISAL REPORT UNIFbr<M RESIDENTIAL APPRAISAL Rr.rORT File No 05-0343C . " $ ESTIMATED SITE VALUE. . . . . . . . . . . . . . . . . . . . . . . . . . ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: Dwelling Sq. rl. @ $ _ = $ sq.n.@$_ = Sales or Financing Concessions Date of SalelTlme Location Leasehokilfee SImoIe Site View Desiqn and Aooeal Quafilv of Conslructbn Aqe Condition Above Grade Room Count Gross Livina Area . Basement & Finished Rooms Below Grade Functional Utilitv Heatinq/Coolina . Enerav EffICient Items Garaoe/Carport Porch, Patio. Deck. rireolace(s), etc. Fence, Pool. etc. Suburban Fee Simnle 142.73 Acres +/- Open country 2 Storv/Ava Ava/Stone 100 Years Averane Talall Eldrms 1 20 6: 3: 1.50 2 980 Sa.Fl. Partial Bsmtl Unfinished Cessoool/Bath FHA/None Tvpical 1 C Camort Porch/ 3 Firenlaces Outbldas/Hse $ 274.38 iLl Comments on Cost Approach (such as, source 01 cost estimate. site value, square loot calculation and lor HUD, VA and FmHA. the estimated remaining economic Iile 01 the property): Cost neW from Marshall Swift Valuation Service Handbook and local cost analvsis. Land value from Market Data Comoarison. Deoreciation based on aae life observed condition and Market Data Analvsis. Due to the aQe of the imorovements the cost approach is considered inaoPropriate. Estimated Remainina Economic Life is 30-35 Years. 750 000 -25 COMPARABLE NO.2 531 East Springville Road S.Mlddleton-Carlisle 10.8 MI ESE 1.100000 $ 432.32 iLl COMPARABLE NO.3 597 Petersburg Road S.Middleton-Carlisle 8.8 MI ESE 814500 $ 317.98 iLl 725 000 . ~ r Courthouse Records DESCRiPTION I + '_' $ Ad "lm,,1 None, Cony , DOM unknown 3/05 Suburban Fee Simple 142 Acres+/- Resid/Cntrvsd ' 2 Storv/Ava AVQ/Stone 100 Yrs+/- Superior f10%1: Courthouse Records DESCRIPTION I + (-) $ Adiu,lm,,1 None,Conv DOM Unknown 9/03 f3.3%1 : Suburban Fee Simple : 103 Acres+/- : Resid/Cntrvsd ' 2 Story/Ava : Avg/Frame 15%) : 100 Yrs+/. Average Courthouse Records DESCRIPTiON I + (-) $ Ad)"lm,,1 None,Conv DOM Unknown 5/02 [6.0%1 : Suburban Fee Simple : 127.39 Acres +/- : Resid/Cntrvsd 2 Storv/Avg Ava/Stone 100 Yrs+/- Averaae Baths Tolal I Bdrms I Baths 43 500 76 700 1,500 14 000 -5 000 -3000 10 000 NetAdi.!total\ , X, '$ 131600"-'$ 289004l1li' '$ Adjusted Sales Price of Comparable $ 968 400 $ 1 103 504 $ 862 700 Comments on Sales Comparison (including the subject property's compatibility to the neighborhood. etc.): Based on a aross rent multiplier of 10 the contributing value was established of $10,000 for the caretaker house. Excess acreaae adiusted at $5000/Acre. Ranae of value is $862 000 to $1 104000. Garage/Carport _ Sq. FI. @ $ _ = Total Estimated Cost New I ." " " I" " ,," = $ Less Physical Functional External Esl. Remaining Econ. Lile: . Depreciation = $ Depreciated Value of Improvements . . . . . . . . . . . . . . . .. = $ "As-is" Value of Site Improvements. . . . . . . . . . . . . . . . . .. = $ INDICATED VALUE BY COST APPROACH. . . . . . . . . .. = $ ITEM SUBJECT I COMPARABLE NO.1 1281.1295 Creek Road 2513 Walnut Bottom Road Address Carlisle Dickinson-Carlisle Proximity to Subiect ' 6.3 MI SSE Sales Price $ N/A PricelGross Liv. Ivea $ 0.00 III $ Data andlor Inspection Verification Sources Crthse Rec. VALUE ADJUSTMENTS DESCRIPTION 9: 4" 2.50' 4 009 SoH : Partial Bsmt/ , Finished Superior OHW/None Tvpical 3 Car Garaae : Screened Porch/ : Patio/FP , None : -120 000 -3,000 -20.600 Talal I Bdrms I Balhs : 7: 3: 1.00' 1 884 SoH. : Partial Bsmt/ : Unfinished Suoerior OHW/None Tvoical 2 Car Garaae Porches 27 204 198 650 40750 Talal I Bdrms 1 Baths 137 700 ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 Date, Price and Data Sou,eetor prior sales N1A None None None within vear 01 aooralsal Courthouse Courthouse Records Courthouse Records Courthouse Records Anaiysis 01 any current agreement of sale, option, or listing 01 the subject property and analysis 01 any prior sales 01 subject and comparables within one year 01 the date 01 appraisal: No prior transfer within the last thirty six months for subiect. No Drior transfer of comoarable sales within the last year. -5000 .5000 -8 000 30 000 Outbldas 1,500 21 900 6: INDICATED VALUE BY SALES COMPARfSON APPROACH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 950 000 I INDICATED VALUE BY INCOME APPROACH (If Aooiicable) Estimated Markel Rent $ N/A !Mo. x Gross Rent Mullinlier N/A = $ N/A This appraisal is made 00 "as is" U subject to the repa.., alterations. inspections or conditions listed beiow U subject to completion per plans and specifications. Conditions 01 Appraisal: The property has been appraised in current condition. This appraisal is for client onlv. nontransferable. See attached addendum. ApPraisal has been updated based on current survey. Final Reconciliation: The sales comparison aporoach is the best aporoach for this tvoe of oropertv and the one for which the most reliable data is available. Cost Aporoach and Income Annroach were considered inaoorooriate for this analysiS. . 1 The purpose of this appraisal Is to eslimate the market value 01 the real property that is the subject 01 this report, based on the above conditions and the certification, contingent ~ and limiting conditions. and market value definition that are stated in the attached Freddie Mac rarm 43gIFannie Mae Form 10048 (Revised 6/93 ). ~ I (WE) ESTIMATE THE MARKET VALUE, AS DEFINEO, OF THE REAL PROPERTY THATlS THE SUBJECT OFTHISREPORT, ASOF Mav 19 2005 . (WHICH IS T~E DATE F INSPE-~'-' THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 950,000 . APPRAISE' _ --J ) <;' ~ SUPERVISORY APPRAISER (ONLY IF REQUIRED): Sianature '--- / ___ . ( / SiQnature Name Steven W. Barrett, SRP"A, SRA Name Oa\e Report Signed 08/15/2005 Dale Reoorl Sioned State Certification # GA-000298-L State PA State Certification # Or State License # RB-026921-A State PA Or State License # ,ddi, Moo F",m 70 6.93 Certified General Appraiser PAGE 2 OF 2 ProducedusingAClsoflware,eoo.234.8727WYM'.aclweb.com Steven W. Barrett R.E. Appr. Svc. -5 000 4: 1.00' 2 280 SQ.F\. : Partial Bsmtl Unfinished Suoerior OHW/None Tvoical 1 Car Garaae EncL Porch/ 1 Fireolace Outbldas .6000 10 000 OOid ODid Not Inspect Property Slate State Fannie Mae Fotm 1004 6-93 FLOORPLAN Borrower: WESTCOTT Estate Property Address: 1281-1295 Creek Road City: Carlisle Lender: M & T Investment Grou ~ ,_/ File No.: 05-0343C Case No.: state: PA Zip: 17013 46.0' 46.0' Bedroom "1 ;:: ~ Bedroom Kitchen 10 24.0' N 24.0' ~ b cj . Foyer "' 24.0' "1 as <'> .5Bth 10 gi living Room Bedroom 22.0' no' Sketch by Apex IV Windows'" AREA CALCULATIONS SUMMARY Code Description Size Totals GIJU First Floor 1604.00 1604.00 GLA2 second rloor 1316.00 1376.00 P/P poxah 12.0.00 1..20.00 LIVING AREA BREAKDOWN Breakdown Subtotals Fust 1"100:1: 21.0 x 46.0 966.00 22.0 x 29.0 638.00 Second. Floor 22.0 x 50.0 1100.00 11.5 x 24.0 276.00 TOTAL LIVABLE (rounded) 2980 4 Areas Total (rounded) 2980 ::;U~"t:~ I t"KUt"t:K I Y t"HU I U AUUt:NUUM Borrower: WESTCOTT Estate Property Address: 1281 Creek Road City: Carlisle Lender: M & T Investment GrOUD State: PA Zip: 17013 "qe No.: 05-0343C .dse No.: FRONT VIEW OF SUBJECT PROPERTY Appraised Date: May 19, 2005 REAR VIEW OF SUBJECT PROPERTY STREET SCENE SUBJECT PROPERTY PHOTO AUUt:NUUM --' c;leNo.: Borrower: WESTCOTT Estate 05-0343C Property Address: 1281 Creek Road , - .ase No.: City: Carlisle State: PA Zip: 17013 Lender: M & T Investment GrOUD FRONT VIEW OF SUBJECT PROPERTY Appraised Date: May 19, 2005 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: WEliTCOTT Estate Property Address: 1281 Creek Road City: Carlisle Lender: M & T Investment GrOUD Cile No.: 05-0343C /ase No.: State: PA Zip: 17013 Borrower: WE$.TCOTT Estate -;Ie No.: 05-0343C Property Address: 1281 Creek Road ~ . -,-,ase No.: City: Carlisle State: PA Zip: 17013 Lender: M & T Investment GrOUD Caretaker's House ~VM~AKA~~c~KU~cKIY~HOTOADDENDUM Borrower: WES:rr.OTT Estate ~;leNo.: 05-0343C Property Address: 1281-1295 Creek Road .dse No.: City: Carlisle State: PA Zip: 17013 Lender: M & T Investment GrOUD COMPARABLE SALE #1 2513 Walnut Bottom Road Dickinson-Carlisle Sale Date: 3105 Sale Price: $ 1,100,000 COMPARABLE SALE #2 531 East Springville Road S.Middleton-Carlisle Sale Date: 9/03 [3.3%] Sale Price: $ 814,500 COMPARABLE SALE #3 597 Petersburg Road S.Middleton-Carlisle Sale Date: 5102 [6.0%] Sale Price: $ 725,000 LOCATION MAP Borrower: WESTCOTT Estate ProperlY Address: 1281-1295 Creek Road City: Carlisle Lender: M & T Investment GrOll File No.: 05.0343C Case No.: State: PA Zip: 17013 ~o<;,;.'lfJO Prepared by StevenW. BarrettRE Appr. Svc. (717) 24~6&<16 124-126 NORTH HANOVER STREET, CARLISLE, PA 17013 717-243-6646 AND FAX 717-243-8627 ',~ Borrower: WESTCOTT Estate Property Address: 1281 Creek Road City: Carlisle Lender: M & T File No.: 05-0343C Case No.: State: PA Zip: 17013 FloodMap Legend FloO<! Zones At..... &ul<Ia/.d by OOI\.y,,'ar ~oodlri9 ~'ooillc!Oor!he 100. andi;oo:.yer~ '~~ed by100.ye.rfloodlng ~ lnumIIled byloo.yelir'floodtngY/llll~llYbI.zMI , y .r..~ , .re.niilM vtlo~ hmrd' Neat ~1ll>Ck1.rmln.d IK!I P'l'SllIllt~l\mrd$ Ai'ftnlllll"lllilljlj)t,l'on all)' pullIlShed FIRM Flood Information Community; 42,1590- WEST PEN NS B 0. R a, TaWN S H I Po. F Property' Is not i"aFBAA speci~1 floodhazard~rea. tvtlpNumber: 4215900005A tvtlpDoite: 0310411988 Panel:0005A FIPS: 420'41 'ZOne: X NeitherTrahsarneriea ,Flood Hazard Certifieation(TFH C)nor AC I make any ret1reseptations or 'iuana.nties,:to :any 'party 'concerning -the- conte:rit~- accuracy or eornpleiehess,oflhis flood repert, ineludin9 any warranty o/merchantability or fitness for a particular purpose, NeitherTFHChorAClnonhesellerof this flood'repolt shall' have'anyCliabilityto any,thii'd partY!Or any use or misuse of this flood report,. 124-126 NORTH HANOVER STREET, CARLISLE, PA 17013 717-243-6646 AND FAX 717-243-8627 File No 05-0343C ********* QUALIFICATIONS ********* The following checked items are specific special conditions that were identified by this appraiser during the inspection of the subject property, the com parables sales, and their neighborhoods and locations. Unless otherwise noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home inspection service. This is an appraisal to estimate market value. _1. The subject is located in a rural area and is less than 25% built-up. 2. Commercial/Industrial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods. _x_3. Vacant and undeveloped land uses are located within the subject's neighborhood. These uses are typical for the area. _x_ 4. The predominant value in the neighborhood is less than that of the market value of the subject property. This is due to the very wide range of value of properties in the area and superior quality of the subject property. _5. The subject property is located in a F.E.M.A. Identified Flood Zone. Flood insurance coverage is required and suggested. _6. Dampness is noted in the basement of the subject. Standing or running water was not present on basement floor. This condition is considered typical in dwellings of this style. _7. The subject property is serviced by private well and/or septic systems which is common for the area. _x_8. The subject is older than five(5) years. All mechanical systems including the heating, electrical and plumbing systems appear upon a visual exterior inspection to be in working order. No warranties are implied in this statement. _9. Repair items were noted in the comments section of the report. These comments on repair items are for descriptive purposes only and are not required repairs. The items listed are cosmetic in nature. _x_10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a health or safety hazard. _11. The subject property does contain functional obsolescence as noted in the report. This condition is considered typical and common for the area and this style dwelling. _12. The land value exceeds 30% of total value due to the high demand for vacant land in this neighborhood. This condition is considered common and typical for the neighborhood. _13. The land value exceeds 30% of total value. This is due to the large size of the site. This condition is considered to be typical and common. ....7-_14. Individual adjustments were required that exceed 15%. These adjustments were required due to lack of more similar com parables on that individual rating. All com parables used are the best available. _x_15. Total adjustments exceed 25%. This is due to the lack of comparable sales that were more similar in the subject's market area. All comparables used are the best available. _x_16. One or more comparable sales are older than six(6) months. Although there are comparable properties in the subject's area, none have sold recently; therefore, sales in excess of slx(6) months have to be used. All comparables used are the best available. _x_17. One or more com parables used were in excess of one (1) mile from the subject property. Although there are comparable properties in the immediate area, none have sold recently. Therefore, it was necessary to use comparable sales outside of the immediate area. All com parables used are located in similar neighborhoods and within the same marketing area. All comparables used are the best available. _18. The electrical system was not connected during inspection. _19. The water service was not connected during inspection. _20. The heating system was shut down during inspection. _21. Roofing_Plumbing_Electrical_Heating_certification(s) isfare suggested. 22. Inground swimming pool_, out buildings_are included_,not included_according to lender's guidelines. _23. According to lender's guidelines a maximum of_acres were considered for this valuation. Remaining acreage was given no value. File No. 05-0343C ********* QUALIFICATIONS ********* _24. The subject property is located on a private road. _25. Wood infestation inspection is suggested. _x_26. Last recorded deed transfer: Date_10-11-2001_, Consideration: $1.00 _27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like manner. _28. Seller is paying part or all of closing costs. _x_29. All comparable sales are verified closed sales. 30. There are no special conditions or other requirements that would affect market value or future marketability in the Appraisal Report. CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. '-.--/ File No 05-0343C ********* Q UALI FI CA TIO NS ********* Confidentiality and Security Policy We consider privacy to be fundamental to our relationship with clients. We are committed to maintaining the confidentiality, integrity and security of clients' personal information. Internal policies have been developed to protect this confidentiality, while allowing client needs to be served. We restrict access to personal information to authorized individuals who need to know this information to comply with federal standards to protect your nonpublic personal information. We do not disclose this information about you or any former consumers or customers to anyone, except as permitted by law. The law permits us to share this information with our affiliates. The law also permits us to share this information with companies that perform marketing. When we share nonpublic information referred to above, the information is made available for limited purposes and under controlled circumstances. We require third parties to comply with our standards for security and confientiality. We do not permit use of consumer/customer information for any other purpose nor do we permit third parties to rent, sell, trade or otherwise release or disclose information to any other party. ~ . "" File No. OS-0343C DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition Is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions. granted by anyone associated with the sale. .Adjustments to the com parables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or iaw in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the Appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser wili not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc. ) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisai report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed In the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the pUblic through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6-93 Page 1 of2 Fannie Mae Form 1004B 6-93 File No. 05-0343C APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the saies comparison anaiysis and have made a dollar adjustment when appropriate to refiect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to , or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the ciient or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in piace as of the effective date of this appraisai, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I deveioped is consistent with the marketing time noted In the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. i have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as com parables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions In the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 1281-1295 Creek Road, Carlisle. PA 17013 APPRAISER: SUPERVISORY APPRAISER (only if required) Signature: ~'= ~fL V- Signature: Name: Date Signed: State Certification #: or State License #: State: Expiration Date of Certification or License: Name: Steven W. Barrett. SRPA, SRA Date Signed: 08/15/2005 State Certification #: GA-000298-L or State License #: RB-026921-A State: P A Expiration Date of Certification or License: 06/30/2007 o Did 0 Did Not Inspect Property Certified General Appraiser Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 1004B 6-93 S. W. BARRETT REAL ESTATE & APPRAISAL SERVICES File No. 05-0406 APPRAISAL OF LOCATED AT: 207 Grahams Woods Road Carlisle, PA 17013 FOR: M & T Investment Group 3607 Derry Street Harrisburg, PA 17111 BORROWER: WESTCOTT, Estate ASOF: May 19, 2005 BY: Steven W. Barrett, SRPA, SRA Certified General Appraiser Ll. (\ I} C./' ) \ J S. W. BARRETT REAL ESTATE & APPRAISAL SERVICES File No. 05-0406 08/15/2005 M & T Investment Group 3607 Derry Street Harrisburg, PA 17111 File Number: 05-0406 In accordance with your request, I have personally inspected and appraised the real property at: 207 Grahams Woods Road Carlisle, PA 17013 The purpose of this appraisal is to estimate the market value of the subject property, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the estimated market value of the property as of May 19, 2005 is: $89,000 Eighty-Nine Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, finai estimate of value, descriptive photographs, limiting conditions and appropriate certifications. Respectfully submitted, 5~ vJiL 11' Steven W. Barrett, SRPA, SRA Certified General Appraiser ~~~ FannieMae RESTRICTED USE APPRAISAL REPORT Desktop Underwriter Quantitative Analysis Appraisal Report File No.: 05-0406 THIS SUMMARY APPRAISAL REPORT IS INTENDED FOR USE BY THE LENDER/CLIENT FOR A MORTGAGE FINANCE TRANSACTION ONLY. Property Address 207 Grahams Woods Road City Carlisle State PA Zip Code 17013 LeoalDescrintion Deed Book 25V Paoe 390 Countv Cumberland \ Assessor's Parcel No. 46-06-0029-014A Tax Year 04-05 R,E.Taxes $ 1276.00 Snecial Assessments $ None " Borrower WESTCOTT Estate CurrentOwner Westcott Camilla Occunan!: Ilowner Ix ITenant Il Vacant Neiohborhood or Pro'ect Name West Pennsboro Townshio ProiectTvne IlPUD nCondominium HOA$ N/A IMo. Sales Price $ N/A Date of Sale N/A Description/$ amount of loan charneslconcessions to be paid bv seller N/A Pronertv rinhts apPraised Ixl Fee Simple Il Leasehold I Map Reference 06-0029 Census Tract 0128.00 . Note: Race and the racial composition of the neighborhood are not appraisal factors. : Location U Urban ~ Suburban U Rural ~ I Property values ~ Increasing 0 Stable 0 Declining Single family housing ConOOrri-imhousilg .: Built up 0 Over 75% 00 25-75% 0 Under 25% Demand/supply 0 Shortage 00 In balance 0 Over supply ~(~~~3 ~~3 ~(~:i13 t?sE ~ Growth rate nRapid iX1 Stable n Slow Marketing time n Under3 mos.fXl3-6 mos. n Over 6 mos. 90 Low New N/A Low ~/~ . Neighborhood boun~aries S~bject is bounded on the north by Enola Rd, on the east by Allen Rd~ 11 ,0'00 High 100 N/A High--NIA the south by Ritner Highway, on the west by Newburg Rd. -lMPredomlOant 1~4ilt~d(\jfii Predominant (ii' " I 125 50 N/A N/A I Dimensions See legal description Site area .68 Acre Shape Irregular Specific zoning classification and description Agriculture Zoning compliance 00 Legal 0 Legal nonconforming (Grand fathered use); 0 illegal, attach description 0 No zoning _ Hi hest and best use of sub'ect DroDertv as imDroved lor as DroDosed Der plans and sDecificatlons\:OO Present use n Other use, attach descriDlion. I Utilities Public Other Public Other I Off-site Improvements Type Public Electricity Hoo Water 0 Well Street Asphalt !KI Gas SanitarY sewer n Septic Ailev I I Are there any aoparent adverse site conditions (easements, ena-oachments, soecial assessments, slide areas, etc.\? r l Yes rXl No S~ce(s) use~ physical characteristics of property: U Interior and exterior inspection !xl Exterior inspection from streel , I I MLS i X IAssessment and tax records h Prior Inspection n ProDertv owner n Other !Describe\: No. of Stories 1 Tvne !Det./Att.\ Detached Exterior Walls Alum. Roof Surface Shinnle Manufactured Housina I '1 Yes IX l No Does Ihe DroDertv oenerallv conform to the neiohborhood in terms af st Ie, condition, and construction materials? I X I Yes I 1 No If No, attach descri tion. . Ar~here an~parent physical deficiencies or conditions that would affect the soundness or structural integrity of the improvements or the livability of the property? .. I IYes IXINo IfYes,attachdescrintion. !va there any apparent ad~se envir~ental conditions (hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of the subiect prooerlv? I I Yes I X I No If Yes, attach descri tioll. I researched the subject market area for comparable listings and sales that are the most similar and proximate to the subject property. My research reveaied a total of 6 sales ranging in sales price from $ 92,000 to $ 119,000. My research reveaied a total of N/ A listings ranging in list price from $ N/ A to $ N/A. The analvsis of the comDarable sales below refiects market reaction to siqnificant variations between the sales and the subiect DroDertv. FEATURE I SUBJECT I SALE 1 SALE 2 207 Grahams Woods Road 109 A Street 141 Steelstown Road Address Carlisle Plainfield Newville ProximitvloSubiect 2.8 MI ESE ~.8 MI Sales Price $ N/A 92,000 Price/Gross Liv. Area $ 0.00 IZiI $ 100.88 $ 94.83 Data & Verif. Sources M LS/Courthouse Records M LS/Courthouse Records VALUEADJUSTMENT_SESCRIPTION DESCRIPTION I 'HI Mi""""'" DESCRIPTION I 'HIM;"'""'" Sales or Financing None, Conv, None, Cony ' Concessions DOM 121 DOM 4 I Date of SalelTime 6/1/2005: 5/2/2005 : Location Suburban Suburban Suburban Site .68 Acre .24 Acre : .46 Acre View Resid/Cntrvsd Residential: Resid/Cntrvsd Desian IStvle\ 1 Story/Ava 1 Story/Ava 1 Storv/Avn , Actual Aae IYrs.\ 30 Years 44 Years 44 Years ~ Condition Fair/Averaae Averaoe (.5%\: -4600 Fair/Averane -: Above Grade Tolal Bdrms' Baths Tota!: Bdrms' Baths Tolal I Bdrms I Baths : Roam Count 4 : 2 : 1.00 5 3 1.00; -2,000 4: 2 : 1.00 ; .. GrossLMnohea 1 120 So. Ft. 912 Sq. Ft.: 3100 1160 Sq. Ft.: Basement and F"ished Full Bsmt/ Full Bsmtl' Full 8smt/ ' = Rooms Below Grade Unknown Unfinished Unfinished -\ Garaae/Carnort 1 Car Detach None : 500 1 Car Detach Private R If Yes, attach descri tion. U Previous appraisal files SALE 3 141 Running Pump Road Newville 110.4 MI WSW 110 000 69.38 99~ DESCRIPTION None, COIlV. DOM 10 4/27/2005 Suburban 1.38 Acre Resid/Cntrvsd 1 Story/Ava 28 Years Fair/Averaae I '(')IM;"",,",,' -3500 Tolal I Bdrms I Baths o 6 : 3 : 2.00 : 1 440 Sq. Ft.: Partial 8smt/ Partial Fin. 2 Car Intearated ' -5,000 -4800 -2,000 NetAd!.!total\ ~x- '$ 3000~+ - '$ O~X-:$ Adjusted Sales Price of Comoarables $ 89 000 $ 110.000 $ Date af Prior Sales 9/16/1974 None NOlle None Price of Prior Sales $ 1 $ Courthouse Records $ Courthouse Records $ Courthouse Records Analysis of any current agreement of sale, option, or listing of the subject property and analysis of the prior saies of subject and comparables: No prior transfer within the last thirtv six months for subiect. No prior transfer of comDarable sales within the last year. Summary of sales comparison and value conclusion; All com parables are similar in style/utility to the subject property, are verified closed sales and are the best currentlv available. Ran~e of value is $85 000 to $110 000. ODinion of value based on exterior insnection onlv. ODinion of value subiect to chanae uoon interior insoection. Detached oaraoe in fair to averaae condition as well. 15 300 84 600 This appraisal is made lxJ "as.is", or 0 subject 10 completion per plans and spedications on the basis of a hypothetical condition that the improvements have been compieted, or . h subiect to the followinn renairs, alterations or conditions: BASED ON AN [RJEXTERIOR INSPECTION FROM THE STREET OR AN o INTERJORANDEXTERJORINSPECTION, I ESTIMATE THE MARKET VALUE, AS DEFINED, OFTHE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT TO BE $ 89,000 , AS OF 5/19/2005 10CH. PAGE 1 OF 3 Fannie Mae Form 2055 9-96 Producad lIsing ACI sottwar~. 800.2.34.B727 www.aclwab.com Project Information for PUDs (if applicable)--Is the developer/builder in control of the Home Owners' Association (HOA)? U Ves U No Provide the following information for PUDs only if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit: Total number of phases N/A Total number of units N/A Total number of units sold N/ A Total number of units rented N/ A Total number of units for sale N/ A Data Source(s) N/A . Was the project created by the conversion of existing buildings into a PUD? 0 Ves 0 No If yes, state date of conversion: N/A Does the project contain any multi-dwelling units? o Ves 0 No Data Source: N/A Are the common elements compleled? o Ves 0 No if No, describe status of completion: N/A Are any common elements leased to or by the Home Owners' Association? U Ves 0 No If yes, attach addendum describing rental terms and options. N/A Describe common elements and recreational facilities: NtA Project Information for Condominiums (if appllcabie)--Is the developer/builder in control of the Home Owners' Association (HOA)? U Ves U No Provide the following information for all Condominium Projects: T olal number of phases N/ A Total number of units N/A Total number of units sold Nt A Total number of unils rented N/ A Total number of units for sale N/ A Data Source(s) NtA Was the project created by the conversion of existing buiidings into a condominium? o Ves 0 No If yes, date of conversion: N/ A , Project Type: o Primary Residence o Second Home or Recreational o Row or Townhouse o Garden o Midrise 0 Highrise 0 N/A :: Condition of the project, quality of construction, unit mix, etc.: N/A . . . Are the common elements completed? o Ves 0 No If No, describe status of completion: N/A Are any common elements leased to or by the Home Owners' Association? U Ves 0 No If yes, attach addendum describing rental terms and options. N/ A Describe common elements and recreational facilities: NtA PU RP OSE OF AP P RAISAL: The purpose of this appraisal is to estimate the market value of the reai property that is the subject of this report based on a quantitative sales comparison analysis for use in the mortgage finance transaction. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seiler, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seiler to buyer under conditions whereby: (1) buyer and seiler are typically motivated; (2) both parties are weil informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. doilars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. . Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normaliy paid by seilers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparabie property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calcuiated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment shouid approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the titie. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided any required sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser wiil not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 4. The appraiser has noted in the appraisal report any adverse conditions (such as, but not limited to, needed repairs, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normai research involved in performing the appraisal. Uniess otherwise stated in the appraisal report, the appraiser has no knowiedge of any hidden or unapparent conditions of the property or adverse environmentai conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, expressed or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. 5. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 6. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 7. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisai report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisai organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the report to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. 8. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisai that is subject to completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. RESTRICTED USE APPRAISAL REPORT Desktop Underwriter Quantitative Analysis Appraisal Report File No' 05-0406 10CH. PAGE 2 OF 3 Producad using ACI software, 600.234.6127 www.aciweb.com Fannie Mae Form 2055 9-96 Borrower: WESTCOTT, Estate Properly Address: 207 Grahams Woods Road City: Carlisle Lender: M & T Investment Grou Sketch by Apex IV WindowsTM b cO N FLOORPLAN 40.0' Gross Living Area File No.: 05-0406 Case No.: State: PA Zip: 17013 .__U_h_u_n___n....U_h_n' 12.0' ~1 I Patio ~ I b cO N I_~::~_____.___.___:.~~:~..___...._.________._... ...1 ~ 22.0' Gr~Al pip 1120.00 First Floor Porch Patio ~~20.00 110.00 120.00 TOTAL LIVABLE (rounded) L 230.00 1120 First Floor 28.0 x 40.0 1120.00 1 Area Total (rounded) 1120 Borrower: WESTCOTT, Estate Property Address: 207 Grahams Woods Road City: Carlisle Lender: M & T investment Group State: PA Zip: 17013 File No.: 05-0406 Case No.: FRONT VIEW OF SUBJECT PROPERTY REAR VIEW OF SUBJECT PROPERTY FIELD TO REAR OF SUBJECT PROPERTY LOCATION MAP Borrower: WESTCOTT, Estate Property Address: 207 Grahams Woods Road City: Carlisle Lender: M & T File No.: 05-0406 Case No.: State: PA Zip: 17013 Prepared by: Steven W. Barrett RE. Appr. Svc. (717) 243-6646 r- -, 0:. o ~ ~ ~ ~ Q) <J) 0- )( G G 0- Q) <J) ':SGss~ o<(Co'O..-' ~ "B- ~ ~ 2, C3~::~~ ifJr-IU1_(I) ;-:" .':2 (i) '1:\ 2 '0 Q) 0 '- ro 0:: <2. ro <& 0- 0<( ro 0- 0- 0- \0 o o N N - t>D ? .Q :>-> ro -0 '- U- 4. <.t ~ o . ~ o o c.b o . ~ 0; ~ ,.. a> >- o ~ d. ~ ~ File No 05-0406 ********* QUALIFICATIONS ********* The following checked items are specific special conditions that were identified by this appraiser during the inspection of the subject property, the com parables sales, and their neighborhoods and locations. Unless otherwise noted, the conditions that apply to the subject property or the comparable sales used DO NOT AFFECT THE MARKET VALUE OR THE FUTURE MARKETABILITY OF THE SUBJECT PROPERTY BEING APPRAISED. This is not a home inspection service. This is an appraisal to estimate market value. _1. The subject is located in a rural area and is less than 25% built-up. 2. Commercialllndustrial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods. _x_3. Vacant and undeveloped land uses are located within the subject's neighborhood. These uses are typical for the area. _4. The predominant value in the neighborhood is less than that of the market value of the subject property. This is due to the very wide range of value of properties in the area and superior quality of the subject property. _5. The subject property is located in a F.E.M.A. Identified Flood Zone. Flood insurance coverage is required and suggested. _6. Dampness is noted in the basement of the subject. Standing or running water was not present on basement floor. This condition is considered typical in dwellings of this style. _x_7. The subject property is serviced by private well and/or septic systems which is common for the area. _x_8. The subject is older than five(5) years. All mechanical systems including the heating, electrical and plumbing systems appear upon a visual exterior inspection to be in working order. No warranties are implied in this statement. _9. Repair items were noted in the comments section of the report. These comments on repair items are for descriptive purposes only and are not required repairs. The items listed are cosmetic in nature. _10. The basement floor is a dirt floor. This condition is common and typical for the area. and does not pose a health or safety hazard. _11. The subject property does contain functional obsolescence as noted in the report. This condition is considered typical and common for the area and this style dwelling. _12. The land value exceeds 30% of total value due to the high demand for vacant land in this neighborhood. This condition is considered common and typical for the neighborhood. _13. The land value exceeds 30% of total value. This is due to the large size of the site. This condition is considered to be typical and common. _14. Individual adjustments were required that exceed 15%. These adjustments were required due to lack of more similar com parables on that individual rating. All com parables used are the best available. _15. Total adjustments exceed 25%. This is due to the lack of comparable sales that were more similar in the subject's market area. All com parables used are the best available. _16. One or more comparable sales are older than six(6) months. Although there are comparable properties in the subject's area, none have sold recently; therefore, sales in excess of six(6) months have to be used. All com parables used are the best available. x 17. One or more com parables used were in excess of one (1) mile from the subject property. Although there are ~o~parable properties in the immediate area, none have sold recently. Therefore, it was necessary to use comparable sales outside of the immediate area. All comparables used are located in similar neighborhoods and within the same marketing area. All com parables used are the best available. _18. The electrical system was not connected during inspection. _19. The water service was not connected during inspection. _20. The heating system was shut down during inspection. _21. Roofing_Plumbing_Electrical_Heating_certification(s) is/are suggested. 22. Inground swimming pool_, out buildings_are included__,not included_according to lender's guidelines. _23. According to lender's guidelines a maximum of_acres were considered for this valuation. Remaining acreage was given no value. File No 05-0406 ********* QUALlFICA TrONS ********* _24. The subject property is located on a private road. _25. Wood infestation inspection is suggested. _x 26. Last recorded deed transfer: Date 09/16/1974_, Consideration: $_1.00 _27. Proposed construction/renovation in accordance to plans and specifications to be completed in a workman-like manner. _28. Seller is paying part or all of closing costs. _x_29. All comparable sales are verified closed sales. 30. There are no special conditions or other requirements that would affect market value or future marketability in the Appraisal Report. Opinion of value based on exterior inspection only. CHECKED ITEMS ARE SPECIFIC SPECIAL CONDITIONS THAT WERE IDENTIFIED BY THIS APPRAISER DURING INSPECTION. I l ~ I I I File No 05-0406 ********* QUALIFICATIONS ********* Confidentiality and Security Policy We consider privacy to be fundamental to our relationship with clients. We are committed to maintaining the confidentiality, integrity and security of clients' personal information. Internal policies have been developed to protect this confidentiality, while allowing client needs to be served. We restrict access to personal information to authorized individuals who need to know this information to comply with federal standards to protect your non public personal information. We do not disclose this information about you or any former consumers or customers to anyone, except as permitted by law. The law permits us to share this information with our affiliates. The law also permits us to share this information with companies that perform marketing. When we share non public information referred to above, the information is made available for limited purposes and under controlled circumstances. We require third parties to comply with our standards for security and confientiality. We do not permit use of consumer/customer information for any other purpose nor do we permit third parties to rent, sell, trade or otherwise release or disclose information to any other party. RESTRICTED USE APPRAISAL REPORT Desktop Underwriter Quantitative Analysis Appraisal Report APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1, I performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of the comparable sales (unless I have otherwise indicated in this report that I also inspected the interior of the subject property); (2) collecting, confirming, and analyzing data from reliable public and/or private sourc~s; and (3) reporting the results of my inspection and analysis In this summary appraisal report. I further certify that I have adequate Information about the physical characteristics of the subject property and the comparable sales to develop this appraisal. File No,: 05-0406 2, I have researched and analyzed the comparable sales and offerings/listings in the subject market area and have reported the comparable sales in this report that are the best available for the subject property, I further certify that adequate comparable market data exists in the general market area to develop a reliable sales comparison analysis for the subject property, 3, I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware, have considered these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them, and have commented about the effect of the adverse conditions on the marketability of the subject property, I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 4, I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form, 5, I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction, I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the Vicinity of the SUbject property or on any other basis prohibited by law, 6, I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property, 7, I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal, I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan, 8, I estimated the market value of the real property that is the subject of this report based on the sales comparison approach to value, I further certify that I considered the cost and income approaches to value, but, through mutual agreement with the client, did not develop them, unless I have noted otherwise in this report. g, I performed this appraisal as a limited appraisal, subject to the Departure Provision of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in the place as of the effective date of the appraisal (unless I have otherwise indicated in this report that the appraisal is a complete appraisal, in which case, the Departure Provision does not apply), 10, I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value, The exposure time associated with the estimate of market value for the subject property is consistent with the marketing time noted in the Neighborhood section of this report. The marketing period concluded for the subject property at the estimated market value is also consistent with the marketing time noted in the Neighborhood section, 11, I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. I further certify that no one provided significant professional assistance to me in the development of this appraisal. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certified and agrees that; I directly supervise the appraiser who prepared the appraisal report, have examined the appraisal report for compliance with the Uniform Standards of Professional Appraisal Practice, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 5 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. APPRAIS~R: ",_________, " ) I) 't-f '~" '--1.. L__ Signature: ::=::, -" Name: Steven W. Barrett, SRPA, SRA Company Name: S, W. Barrett Real Estate & Appraisal Services Company Address: 126 North Hanover Street, Carlisle, PA 17013 SUPERVISORY APPRAISER (ONLY IF REQUIRED): Signature: Name: Company Name: Company Address: Date of Report/Signature: 08/15/2005 State Certification #: GA.000298-L or State License #: RB-026921-A State: PA Expiration Date of Certification or License: 06/30/2007 Certified General Appraiser Date of Report/Signature: State Certification #: or State License #: State: Expiration Date of Certification or License: LENDER/CLIENT: Name: Company Name: M & T Investment Group Company Address: 3607 Derry Street, Harrisburg, PA 17111 SUPERVISORY APPRAISER: SUBJECT PROPERTY o Did not inspect subject property o Did inspect exterior of subject property from street o Did inspect interior and exterior of subject property COMPARABLE SALES o Did not inspect exterior of comparable sales from street o Did inspect exterior of comparable sales from street ADDRESS OF PROPERTY APPRAISED: 207 Grahams Woods Road Carlisle, PA 17013 APPRAISED VALUE OFTHE SUBJECT PROPERTY $ 89,000 EFFECTIVE DATE OF APPRAISALIINSPECTION 05119/2005 10CH, PAGE 3 OF 3 Fannie Mae Form 2055 9,,96 Produced using AClsoflwaro, 800.2.34.8727 www.aclweb.com Steven W. Barrett R.E. Appr. Svc. 05/'0/2005 10:21 302-g34-2135 M AND T BANK RECORDS PAGE 02/05 i\ ,--l.C\ I v j \. \ II 499 Mitchell Road MiIIsboro, DE 19966 Mall code DE-MB-12 Phone: 88S-<i02-4349 Fax: 302-934-2955 [mM&fBank] Fax To: Jane F Burke M&T Investment Group From: Nancy Clagett Fax: 71 7-240-4559 Date: June 10, 2005 Correction Re: Estate of: Camilla R Westcott Social Security: 193-12-8844 Date of Death: May 19, 2005 Pages: 2 Dear- Jane: Per your inquiry received June 06, 2005, please be advised that at the time of death, the above-named decedent had on deposit with this bank the following: 1- Type of Account Checking Account Account Number 2674015280 Ownership (Names of) Camilla R Westcott '" William W Westcott, POA Opening Date 06/01/74 Closed 06/03/05 Balance on Date of Death $50,628.61 Accrued Interest $ 1.14 Total $50,629.75 2. Type of Account Savir1gs Account Account Number 015004200018982 Ownership (Names of) Camilla R Westcott '" William WWestcott, POA Opening Date 01/07/83 Closed 06/03/05 Balance on Date of Death $34,772.96 Accrued Interest $ 23.79 Total $34,796.75 ~ ORRSTOWN BANK -..< r-=-'l ? ,.~ ,.- '-2:F" ((':!' ~J il \vn ~~ 1~; <:.~, i C;1~"'\ \...' ...::;:..., lit! '!'i ,J U l 11 200S)>>) Pamela 1. Kuenzie Branch Executive Officer Phone 717-240-0686 Fax 717-240-0804 July 7,2005 Jane F. Burke M&T lnvestment Group' One West High Street Carlisle, PA 17013 - RE: Estate of Cam ilIa R Westcott Estate of Laurence C Westcott Dear Jane: Enclosed you will finel a check made payable to the Estate of Camilla R Westcott in the amount of $89,132.12. This value represents the combined proceeds of the following accounts: Checking account # 1060027\ 0 CD # 400000 1085 TOTAL $ 57,445.52 $ 3 J ,686.60 $ 89,]32.12 Account values as of May 19,2005, Ms Westcott's date of death, are: Che<:;king account # ] 0600271 0 CD # 400000 i 085 $ 57,343.67 .", --." ,.._......~' _0 ..~ ~ .., 1 '1J'io.VL.f TOTAL $ 88,941.71 There is no record of any account activity for Laurence C. Westcott Feel free to contact me if there is anything else I can do to help you. Very truly yours, ORRSTOWN BANK ~ Pamela J. Kuenzie Branch Executive Officer PO Box 250 · ShippensburQ, PA 17257 · (717) 532-6114 . (717) 532-4143 Fax. www.orrstown.com Commerce f1Bank July 26,2005 M & T Investment Group PO Box 220 One West High Street CarlislePA 17013 Dear Ms Burke, I have enclosed the check you requested for the Estate of Camilla R Westcott. The DOD balance on the certificate of deposit on May 19,2005 was $51,447.36. Tfyon need anything else please let me know. Sincere , 7 I ,! n&------- Tr cy orin ASSIS ant Branch Manager Ene. w ~ @ ~D \D ~ \0\1 IW JUL 2 8 2005 W By = Commerce Bank / Harrisburg, NA P.O. Box 8599 100 Senate Avenue Camp Hill, Pennsylvania 17001-8599 Account Number 6204299976 Account Title CAMILLA R WESTCOTT Date Opened 6/9/2003 Account Type Checking Principal Balance as of DOD $69066.56 Interest from Last Posting to DOD $ .00 Account Balance as of DOD $69066.56 YTD Interest to DOD $437.45 Account Number 6100652548 Account Title CAMILLA R WESTCOTT Date Opened 6/112000 Account Type Checking Principal Balance as of DOD $15952.52 Interest from Last Posting to DOD $.00 Account Balance as of DOD $15952.52 YTD Interest to DOD $59.46 B~~ ROWE:~~~~~~t 00 -W2~n R. D. 4, Box 353 · Carlisle, P A 249-2677 249-1978 Auction Is Action Call "ROWE"Por Satisfaction June 27, 2005 TO: M & T Trust Company Administrator CTA ATTN: Jane Burke One West High street Carlisle, Pa. 17013 FO: CAmilla Westcott Estate 1295 Creek Road Carlisle, Pa. 17013 FR: Benny E. Rowe Appraiser/Auctioneer 2505 Ritner Highway Carlisle, Pa. 17013 \ ,- \ \J fj - "-," \\ RE: Personal property appraisal at current Auction market value. ru[Eug UU JUL By r.\' \.~l ~ \~f\ L \1,/ 1\1\ \ I , I 1 2005 !u PAGE 2 KITCHEN Table/Chairs Small electrical Glass/China Kitchen accessories Crocks Misc. $ 5.00 12.00 6.00 18.00 12.00 16.00 LIVING ROOM Knee Hole Desk ~ Banquet table T V Wash Stand Upholstered Furniture Mission Oak table Mission Oak rocker Decorators File cabinet WAll Hangings Misc. 35.00 75.00 10.00 65.00 N/V 265.00 45.00 22.00 4.00 5.00 24.00 HALL (DOWN/UP) Book Shelf 4 Victorian Chairs (2 in Parlor) Oak Wash stand Cheesecutter Rocker 2 Rush seat Chairs Bottles Capel Pin Collection 5.00 120.00 70.00 25.00 24.00 3.00 45.00 ATTIC Butter Churn Books Beds Boxes Misc. 35.00 12.00 20.00 65.00 165.00 PAGE 3 PARLOR Empire Sofa Chunk Stove Breakfront 2 Mission Rockers Soft Paste Tea Set Mary Gregory Pitcher w/2 glasses Pressed Glass Rosewood Piano Case Glass Table Light Rockingham Pitcher Linens Sabre Stool Books Prints Decorators Misc. $ 150.00 30.00 60.00 80.00 225.00 45.00 35.00 215.00 60.00 85.00 30.00 80.00 15.00 5.00 12.00 35.00 20.00 BEDROOM n Chest of Drawers Vanity Twin Beds Upholstered Furniture Oak table Misc. Chairs School Seat Trunk Fan Misc. 25.00 20.00 40.00 N/V 20.00 5.00 5.00 15.00 4.00 22.00 BEDROOM it .L_ Transition Chest of drawers Cedar Chest Rope Bed Cottage Bed Misc. Chairs Flat Trunk Dresser w/Mirror (rough) Mirror Misc. Min Tramp Art Chest Min. Hutch Cupboard Misc. Jewlery 245.00 40.00 35.00 10.00 5.00 15.00 10.00 3.00 40.00 80.00 22.00 30.00 PAGE 4 BEDROOM # 3 Oak Buffet Sewing Items Misc. Chairs $ 35.00 60.00 45.00 12.00 TOTAL 3012.00 Mervin W. Adams steven E. Adams Business DAMS C /) " ,-y:~\ \ AU-000002 AU-OOI705 AY-OOOI43-L ~"'~ Phone (717) 692-3076 e'"'"'''" Fax ( 717) 692-4313 Page #1- Camilla Westcott Estate Quantity Description Value Dollars 1 1875-S Trade dollar XF ..........................................................$125.00 1 1832 Mexican Dollar VF ..........,...............................................$25.00 1 1845 Mexican Dollar VF ..........................................................$25.00 Two cent 2 1864 F & G ...................................................................;.'..........$25.00 1 1865 G... ... ................ ......................... ............ ..... ....... ............... .$1 0.00 1 1866 G....................................................... .............;................ ..$1 0.00 Large Cents 1 1828 AG pitted.. ................... .............................. ............. ....... .....$4.00 1 1838 G bent.......................... ..,........... .... ..................................... .$2. 00 1 1845 V G .............................................................. .................... ..$1 0.00 1 1850 G pitted.............................................................................. .$7 . 00 1 1853 F ..................................................................................... ..$12.00 1 "> 1855 G..... ...... ..........~. ................ ........ ........ ............ ............ ........ ..$7.00 3 unreadable dates ...;..................... ..... ........... ............ ............... ......$1.00 Small Cents 1 1857 Flying Eagle G ...............................................,................,$15.00 19 Miscellaneous Indian Head Cents (damaged due to storage in aleather pouch) ............................$10.00 1 1881 Indian Head Cent badly damaged ......................................$0.01 2 1909 VDB Lincoln Cents............................................................$4.00 1 1917 Lincoln Cent.... ........ ................. ......... ....... ...... ....................$0.20 1 1920 Lincoln Cent.......................................................................$0.15 1 1923 Lincoln Cent.......................................................................$O.1 0 1 1927 Lincoln Cent................ ............. .............. ............ ............... .$0.15 Buffalo Nickels 1 1936........... ................................................................................. .$0.10 1 unreadable date ........... ............. ....... ................. ......... ................. .$0.05 '20R Manlp street. Millersbura. PA 17061 Page #2 - Camilla Westcott Estate Quantity Description Value 1 1 1 1 2 1 Miscellaneous Coins 180? Half Cent (face right) .........................................................$3.00 1834 Bust Dime VG ................~.................................................$20.00 1925 Mercury Dime VG ........~......,.,.."....~............,.....~..... ............$2.00 1944 Mercury Dime VG.:~.......;.......;:.::....~:~;...;~;....~...................$0.50 1964 Kennedy Half Dollar :.";.;...;.:.:.....:....;:.;..:~.;;.........................$3 .00 Damaged Mexican Coin unreadable"date........~.,..~;....................$O.1 0 TOTAL ........ ........ .... .... .......... ..'...~'..h:......:...~,~....~~..,.~:...:.:.....~:.,.. ....... ...$321.36 32 JUL 06, 2006 ID: JNL *531455 PAGE: 2/2 \.J i~\ cq ackson National Life A Wholly Owned Subsidiary of Prudential Corporation pIc London, England July 6, 2006 Jane Berg M & T Bank As authorized by William W Westcott Re: CAMILLA R WESTCOTT Policy No. 008021709A Dear Jane Berg Per your request I am including the account values for the above policy, as of the reported date of death May 19,2005 the value was $30,444.42. If you have any questions, please contact our Service Center at (888) 565-4995 Sincerely, (}{enaa :Metz Glenda Metz Claims Analyst Claims Administration D24 PO Box 24068 Lansing MI 48909-4068 800/USE-JNLI (800/873-5654) ~ Western-Southern Ufe@ 08/02/2005 William W Westcott C/o M& T Investment Group One West High Street Carlisle, PA 17013 Subject Annuity Contract W0020737510 Camilla Westcott Western-Southern Life Assurance Company Dear: Mr. Westcott This letter is to inform you that the date of death value on 05/19/2005 was $77,304.21. If you have questions, please call your sales representative or our Annuity Operations Department at 1-800-926-1702.1. representative will be happy to assist you. Sincerely, ~~ CRYSTAL GREENE Annuity Administrator Annuity Operations Department F016 [D) ~ @ [E [\ ~rrr~ m w AUG 29 1005 :~. By Member, Western & Southern Financial Group@ Annuity Operations Group. PO Box 2918 . Cincinnati, Ohio. 45201-2918 Phone (800) 926-1702 . Fax (513) 629-1799 ~ Western-Southern Life$ 08/02/2005 William W Westcott C/o M&T Investment Group One West High Street Carlisle, PA 17013 Subject: Annuity Contract W0020598867 Camilla Westcott Western-Southern Life Assurance Company Dear: Mr. Westcott This letter is to inform you that the date of death value on 05/19/2005 was $60,117.69 If you have questions, please call your sales representative or our Annuity Operations Department at 1-800-926-1702. A representative will be happy to assist you. Sincerely, ~~ CRYSTAL GREENE Annuity Administrator Annuity Operations Department F016 By = Member, Western & Southern Financial Group@ Annuity Operations Group. PO Box 2918 . Cincinnati, Ohio. 45201-2918 Phone (800) 926-1702 . Fax (513) 629-1799 Ameriprise e Financial Ameriprise Financial Services, Inc. 70100 Ameriprise Financial Center Minneapolis, MN 55474 October 4, 2005 David Johnson 19 S Hanover St Ste 103-104 Carlisle PA 17013-3327 Dear Mr David Johnson: Thank you for contacting our office. I am writing in response to your request for account value information. Before we can release account information, we need our client's signed authorization. We trust you understand our position in keeping client account information confidential. When we receive a signed request from the client, we will forward the information to you. You might want to contact the client, since the information you are seeking may be in their files. At the request of our client, Mrs Camilla Westcott, we are providing the following account information. Total Value As of Date , Account Number/Description $$60,820.35 05192005 0000 0008 0445 8353 5 001 Ameriprise Certificate Company AMP Flexible Savings Certific If you have questions or further service needs, please contact our office at the telephone number below. Stti~rr · Michael tgUire Mutual Fund and Certificate Service and Transactions (800) 862-7919, Option 2, Option 3 cc: Mrs. Camilla R. Westcott 1295 Creek Road Carlisle PA 17013-8931 00449 David Johnson 60412 0612 78033 rc: \ ~ m~. c..- 'r- \" ~ lE @; G \ \\ , \, 1m oCT 1 1 2005 '~ 8y_ = Insurance and annuities are issued by IDS Life Insurance Company, an Ameriprise Financial company. Ameriprise Brokerage is provided by Ameriprise Financial Services, Inc. Ameriprisc Financial Services, Inc. Member NASD. @ American Enterprise life Insurance Company 829 AXP Financial Center Minneapolis, MN 55474 August 12,2005 American Enterprise Life Insurance Company (AEL) issues fixed and variable insurance and annuities and is an affiliate of American Express Financial Advisors Inc, (AEFA), Member NASD. AEFA is the principal underwriter of the securities issued by AEL. American Express Company is separate from AEFA and is not a broker-dealer Manufactures & Traders Trust C/O Jane F Burke, VP PO Box 220 One west High Street Carlisle P A 17013 Contract Owner: Contract Annuitant: Contract Number: Camilla R Westcott Camilla R Westcott 9920-5945830 Dear Jane F Burke: Thank you for contacting us regarding this annuity contract issued by American Enterprise Life Insurance Company (AEL). We have received correspondence from you requesting the date of death value on this annuity contract. The date of death value on May 19,2005 is $32,171.76. If you have any further questions or service needs, please contact AEL Client Services at 800- 333-3437, Monday through Friday from 8:00 a.m. to 7:00 p.m., CST. Sincerely, ~ t{J'~&tU?W Linda Williams Senior Service Representative Enc!. ----::;~ ~~ ~ ~ D. 'lD \:; \'1.\'1'.\.', ~",",,("l~\.. , AUG 1 5 ~v,lc_'.\ j 1,8'f~ - '0(:) . L\ C\ \ LAST WILL AND TESTAMENT I, CAMILLA R. WESTCOTT, of West Pennsboro Township, Cumberland County, Pennsylvania, being of sound mind, memory and understanding, do hereby make, publish and declare this as and for my Last Will and Testament hereby revoking and making void any and all former Wills, Codicils or writings in the nature thereof, by me at any time heretofore made. FIRST: I order and direct my Executor, hereinafter named, to pay all of my just debts, funeral expenses, testamentary expenses, and all Inheritance, Estate, Transfer and Succession Taxes as soon as may be conveniently done after my de~th, out of my residuary estate. SECOND: I hereby give and bequeath to my h~sband, Laurence C. Westcott, a sum equal to the appraised value of my home located in West Pennsboro Township, Cumberland County, Pennsylvania, as finally determined for Estate and Inheritance Tax purposes. THIRD: I hereby. give and bequeath all of my tangible personal property, including but not limited to household furnishings, farm equipment and automobile, to my son, William W. Westcott. Some of my tangible personal property was purchased by me and my husband, Laurence C. Westcott, as tenants in common without the right of survivorship, and, therefore, half of same is owned by my husband, Laurence C. Westcott. FOURTH: I hereby give, devise and bequeath my interest in the farm, commonly known as the "Graham Farm", and my home, both located in West Pennsboro Township, Cumberland County, Pennsylvania, to my son, William W~ Westcott. My husband, Laurence C. Westcott, shall have t.he right to live in said home so long as he desires without the payment of rent or other charge provided that he pay the real estate taxes, insurance, a~& fi?,/f:;pt%1~ maintenance and expenses associated with the home, and provided further that he make no major i'mprovements without prior written approval of my said son. FIFTH: All the rest, residue and remainder of my Estate, be it real, personal or mixed, of whatsoever kind and wheresoever situate, I hereby give, devise and bequeath to my husband, Laurence C. Westcott and my son, William W. Westcott, in equal shares, share and share alike. SIXTH: In the event that my husband and I should die as a result of a common disaster, or under such circumstances as to render it difficult or impossible to determine who predeceased whom, I hereby declare it to be my intention and direction that I shall be con- clusively presumed to have survived my said husband, and this, my Last Will and Testament, shall be construed on that assumption and basis, statute, law'or rule to the contrary, notwithstanding. SEVENTH: In the event that my husband shall predecease me, I hereby give, devise and bequeath my residuary estate to the Commonwealth Nati,onal Bank, IN TRUST NEVERTHELESS. The Trust Estate shall be invested in good and safe securities legal for trust funds in the COlllIllonwealth of Pennsylvania. The Trustee may retain such investments as I have made during my lifetime without liability for diminution in the value thereof or lack of productivety. The net income derived therefrom shall be paid in quarterly installments, or more frequently if desired, to and for the use and benefit of my said son, William W. Westcott, for and during the term of his natural life. The Trustee from time to time in its sole discretion may use so much of the principal as it deems necessary for the health, support, maintenance and general welfare of my said son, William W. Westcott, either by payment directly to him or for his benefit. Upon the death of my said son, the Trustee shall distribute {~~/il .f{: /l5d~;;t/ -2- the Trust estate to the charities which I have designated by a written signed list given to the Trustee. My said son, is hereby restrained from and is or shall be without right, power and authority to sell, transfer, pledge, mortgage, hypothecate, alienate, anticipate, or in any other manner effect or impair his, beneficial and legal rights, titles, interests, claims and estates in and to the income or principal of the Trust Estate during the term hereof, nor shall his rights, titles, interests, claims and estates hereunder be subject to the rights or claims of his creditors nor subject nor liable to any process of law or court, and all of the income of principal of the Trust Estate shall be transferrable, payable and deliverable only, solely, exclusively and personally to or for my son as provided hereunder at the time entitled to take the same under the terms of this Trust. LASTLY, i hereby nominate, constitute and appoint Laurence C. Westcott to be the Executor of this, my Last Will and Testament, :1e to serve without Bond in the Commonwealth of Pennsylvania, or in any. other jurisdiction. In the event th~t my said husband shall be unable to act as Executor of my estate or complete the administration thereof for any reason whatsoever, I hereby nominate, constitute and appoint William W. Westcott as Executor hereof, he likewise to serve without Bond. this IN WITNESS WHEREOF, I have hereunto set my hand and seal 17>i1. day of ~ ' 1978. Ck&j ;;e 1I/Ii~hrtl: (SEAL) SIGNED, SEALED, PUBLISHED and DECLARED by CAMILLA R. WESTCOTT, the above named Testatrix, as and for her Last Will and Testament, in our presence, who, in her presence, at her request, and in the presence of each other, have hereunto set our hands as subscribing witnessess. ~::tJA'~4/~ ~ Il Jilad;u -3-