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COMMONWEAL l'H OF PENNfrliVANIA
OEPARTMENT OF REV\!HUE
OEPT. 280601
HARRISBURG, PA 17128-0601
OFFICIAL USE ONLY
I
REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
21
COUNTY CODE
05 01018
YEAR NUMBER
SOCIAL SECURITY NUMBER
195-32-4687
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
SOCIAL SECURITY NUMBER
6. Decedent Died Testate (Attach copy
of Will)
9. litigation Proceeds Received
4a. Future Interest Compromisa (date of death after
12-12-82)
7. Decedent Maintained a living Trust (Attach
copy of Trust)
10. Spousal Poverty Credit (date of death between
o 3. Remainder Return (date of death priOr to 12-13-82)
~ 5. Federal Estate Tax Return Required
8. Total Number of Safe Deposit Boxes
o 11. Election to tax under Sec. 9113(A) (Attach Sch 0)
1. Original Return
4. limited Estate
2. Supplemental Return
DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
BINKLEY, BETTY G.
DATE OF DEATH (MM-DD-YEAR)
DATE OF BIRTH (MM-DD-YEAR)
301 Market St.
Lemoyne, PA 17043-0109
(1 ) 2,057,900.00
(2) 28,996.56
(3) None
(4) None
(5) 4,843,068.49
(6) 439,201.17
(7) 32,998.11
()
11/0712005
06/12/1910.
OFFjCIAL USE ONL'Y
,-)
-~1
-I
~.J
(IF APPLICABLE) SURVIVING SPOUSE'S NAME ( LAST, FIRST AND MIDDLE INITIAL)
IRM NAME (If applicable)
JOHNSON, DUFFIE, STEWART & WEIDNER
ELEPHONE NUMBER
717/761-4540
1. Real Estate (Schedule A)
2. Stocks and Bonds (Schedule B)
3. Closely Held Corporation, Partnership or Sole-Proprietorship
4. Mortgages & Notes Receivable (Schedule D)
5. Cash, Bank Deposits & Miscellaneous Personal Property
(Schedule E)
6. Jointly Owned Property (Schedule F)
o Separate Billing Requested
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G or L)
8. Total Gross Assets (total Lines 1-7)
9. Funeral Expenses & Administrative Costs (Schedule H)
10. Debts of Decedent. Mortgage Liabilities, & Liens (Schedule I)
11. Total Deductions (total Lines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
(8)
7,402,164.33
(9)
(10)
92,583.19
144,980.52
(11 )
(12)
237,563.71
7,164,600.62
13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been
made (Schedule J)
14. Net Value Subject to Tax (Line 12 minus Line 13)
(13)
(14)
7,164,600.62
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
313,625.38
23,417.72
20. 0
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
337,043.10
15.Amount of Line 14 taxable at the spousal tax rate, x .00 (15)
or transfers under Sec. 9116(a)(1.2)
z 6,969,452.95 .045 (16)
0 16.Amount of Line 14 taxable at lineal rate x
~
.....
::I
a. 17. Amount of Line 14 taxable at sibling rate 195,147.67 x .12 (17)
:I
0
0
g 18. Amount of Line 14 taxable at collateral rate x .15 (18)
19. Tax Due (19)
::opyright 2000 form software only The Lackner Group, Inc.
Form REV.1500 EX (Rev. 6-00)
Decedent's Complete Address:
STREET ADDRESS' ·
424 HUMMEL AVENUE
CITY
ISTATE PA
I ZIP 17043
LEMOYNE
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
8. Prior Payments
C. Discount
(1 )
337,043.10
275,000.00
14,473.68
Total Credits (A + 8 + C)
(2)
289,473.68
3. InterestlPenalty if applicable
D. Interest
E. Penalty
(3) 0.00
(4)
(5) 47,569.42
(5A)
(58) 47,569.42
TotallnterestlPenalty (0 + E)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
8. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
Make Check Payable to: REGISTER OF WILLS, AGENT
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;.................................................................................. ~ I
:: ~::::~ ~h;e~::i~on:~:~~;~s~~~. ~~~~~ .~~~. ~~~.~~~~.~.~.t.~~~~~~~~~.~~.i.t~.~~~~~~:::::::::::::::::::::::::: ::::: :::::
d. receive the promise for life of either payments, benefits or care?.............................................................
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without
receiving adequate consideration? ................... .................................................................................................... 0 ~
3. Did decedent own an Kin trust for" or payable upon death bank account or security at his or her death?......... ~ 0
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation?...................................................................................................................... 0 ~
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
DATE
264 BLACKSMITH ROAD
CAMP HILL, PA 17011
7 2t;,-Joob
DATE
ADDRESS
103 FOXFIRE LANE
LEWISBERRY PA 17339
..,. I 'I -tIte
DATE
SIGNATURE OF PREPARE
EDMUND>> MYERS
~1J~
ADDRESS
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 3% [72 P .5. ~9116 (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 survi\li..- -
[72 P .5. ~9116 (a) (1.1) (ii)]. The statute does not exemDt a transfer to a surviving spouse from tax, and the stF"" :\
of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. ,') ([ to O. U
For dates of death on or after July 1, 2000: c:J I
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at
parent, an adoptive parent, or a stepparent of the child is 0% [72 P .5. ~9116 (a) (1.2)]. '\1 (.-52--
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, ~ _ _ ~'""\
1.2) [72 P.S. ~9116 (a) (1)]. \\ 50 . \) \.)
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. ~911
under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood I
301 Market St.
Lemoyne, PA 17043-0109
'{1-7 10'*
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COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE A
REAL ESTATE
ESTATE OF BINKLEY, BETTY G.
FILE NUMBER
21 - 05 - 01018
All real properw 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 wimng 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 DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 Real Estate - No. 119-121 Third St., Borough of Lemoyne, Cumberland County, PA (Deed Book 125,400.00
Y-18, Page 241) - Sale Price - Copy of Settlement Statement attached.
2 Real Estate - No. 219 Herman Avenue, Borough of Lemoyne, Cumberland County, PA (Deed 133,000.00
Book R-30, Page 394) - Sale Price - Copy of Settlement Statement attached.
3 Real Estate - No. 335 Herman Avenue, Borough of Lemoyne, Cumberland County, PA (Deed 91,000.00
Book 153, Page 113) - Appraised Value - Copy of Appraisal attached.
4 Real Estate - 345-349 Herman Avenue, Borough of Lemoyne, Cumberland County, PA (Deed 209,000.00
Book P-33, Page 931) - Sale Price - Copy of Settlement Statement attached.
5 Real Estate - 347 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA (Deed Book 132,000.00
W-29, Page 691) - Appraised Value - Copy of Appraisal attached.
6 Real Estate - 418 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA 125,000.00
(Deed Book 151, Page 742) - Appraised Value - Copy of Appraisal attached.
7 Real Estate - 420 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA 149,000.00
(Deed Book 1-25, Page 1095) - Appraised Value - Copy of Appraisal attached.
8 Real Estate - 424 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA 165,000.00
(Deed Book S-16, Page 546)- Appraised Value - Copy of Appraisal attached.
9 Real Estate - 427 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA 120,000.00
(Deed Book G-28, Page 934) - Appraised Value - Copy of Appraisal attached.
10 Real Estate - 430 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA 132,000.00
(Deed Book K-18, Page 421) - Appraised Value - Copy of Appraisal attached.
11 Real Estate - 433 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA (Deed Book 124,000.00
P-29, Page 538) - Appraised Value - Copy of Appraisal attached.
TOTAL (Also enter on Line 1, Recapitulation) 2,057,900.00
w'
.
SCHEDULE A
REAL ESTATE continued
COMMONWEAlTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
21-05-01018
ESTATE OF BINKLEY, BETTY G.
All real properw 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 wilnng 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
12
13
14
15
16
17
DESCRIPTION
VALUE AT DATE OF
DEATH
Real Estae - 450 South Third Street, Borough of Lemoyne, Cumberland County, PA (Deed Book
Q-20, Page 939) - Appraised Value - Copy of Appraisal attached.
300,000.00
Real Estate - Lot 59 - Plan of Lower Walton, Borough of Lemoyne, Cumberland County, PA -
containing a concrete municipal garage - (Deed Book Q-20. Page 939)
Appraised Value - Copy of Appraisal attached.
36.000.00
Real Estate - 435 Hummel Avenue, Borough of Lemoyne, Cumberland County, PA
(Deed Book P-29, Page 538) Appraised Value - Copy of Appraisal attached.
115,000.00
Real Estate - 110 Park Place, Third Ward of the City of Corry, Erie County, PA
(Book 1647, Page 255). Appraised Value - copy of Appraisal attached.
26,000.00
Real Estate - 934 North Center Street, Second Ward of the City of Corry, Erie County, PA (Book
0040, Page 2294). Sale Price - Copy of Settlement Statement Attached.
46,000.00
One-half interest as Tenant in Common of Real Estate - 12586 Route 6, Township of Wayne,
Erie County, PA. Book 0477, Page 0972.
Appraised Value - $59,000.00. Copy of Appraisal attached.
29.500.00
Page 2 of Schedule A
~
-
A. Settlement Statement
..
U.S. DeparcmeOl of Housing
and Urban Development
5. Deon\'. Ins.
7. Loan Number
8. Mortgage Ins. Case Number
@(Q)~!i
\~
(;
OMB No. 2502-0265
B. Type of Loan
J. 0 FHA 2.DFmHA 3.IXJConv. Unins.
".DVA
229313-07
C. This form is furnished as a statement of acwal senlement costs. Amounts paid to and by the settlement agent are shown. Items marked
(p.o.c) were paid outside the closing; they are shown for informational pJrposes and an: not included in totals.
D. Name and Address of Borrower E. Name and Address lTSeller F. Name and Address of Lender
Hogg P roperti es. LLC Estate of Betty G_ Binkley Members 1st Federal Credit Union
5000 Loui se Dri ve
Mechani csburg. PA 17055
G. Propo:rty Location H. Settlement Agent Great Road
5ettl ement Services. LLC
119.121 South Thi rd Street Place of Settlement I. Settlement Dale
219 Herman Avenue
345-349 Herman Avenue 2157 Market Street 04/18/2006
Lemoyne. Pennsylvania. Cumberl and County (amp Hi 11 PA 17011
J. SUMMARY OF BORROWER'S TRANSACTION: K. SUMMARY OF SELLER'S TRANSACTION:
100. GROSS AMOUNT DUE FROM BORROWER 400. GROSS AMOUNT DUE TO SELLER
10 I. Contract sales price 467.400.00 40 I. Contract sales price 467.400.00
102. Personal property 402. Personal property
103. Settlement charges to borrower(line 1400) 14.198.50 403.
104. overnight 25.00 404.
105. Members 1st - undisbursed funds 100.000.00 405.
Adjustments for items paid by seller in advance Adjustments for items paid by seller in advance
106. City/town taxes to 406. City/town taxes to
107. CouOlY taxes 04/18/200/D 12/31/2006 1.524.10 407. County taxes 04/18/200/D 12/31/2006 1.524.10
108. Assessments 04/18/200fu 06/30/2006 951.68 408. Assessments 04/18/200fu 06/30/2006 951. 68
109. sewer 4/18.6/30 659 . 34 409. sewer 4/18-6/30 659 .34
110. trash . 4/18/6/30 375.92 410. trash - 4/18-6/30 375.92
Ill. 4IJ.
112 412
120. GROSS AMOUNT DUE FROM BORROWER 585.134.54 420. GROSS AMOUNT DUE TO SELLER . 470.911.04
200. AMOUNTS PAID BY OR ]N BEHALF OF BORRO\\iER 500. REDUCf]ONS ]N AMOUNT DUE TO SELLER
20 I. Deposit or earnest money 5.000 .00 501. Excess deposit(see Instructions)
202. Principal amount of new loan(s) 728.900.00 502. Settlement charges to seller(line 1400) 8.132.51
203. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to
204. 504. Payoff of first mortgage loan
205. 505. Payoff of second mortgage loan
206. 506.
207. 507.
208. Security Deposit Credit 4. 650 . 00 508. Security Deposit Credit 4,650.00
209. Rent Credi t 1.766.96 509. Rent Credi t 1.766.96
Adjustments for items unpaid by seller Adjustments for items unpaid by seller
210. City/lOwn taxes to 510. City/town taxes to
211. County taxes to 511. County taxes to
212. Assessments to 512. Assessments to
2\3. 513.
214. 514.
215. 515.
216. 516.
217. 517.
218. 518.
219. 519.
220. TOTAL PAID BY/FOR BORROWER 740.316.96 520. TOTAL REDUCTION AMOUNT DUE SELLER 14.549.47
300. CASH AT SETTLEMENT FROM/TO BORROWER 600. CASH AT SETTLEMENT TO/FROM SELLER
301. Gross amount due from borrower(line 120) 585.134.54 60 I. Gross amount due to seller(line 420) 470,911.04
302. Less amount paid by/for borrower(line 220) 740.316.96) 602. Less reduction amount du" seller(line 520) ( 14.549.47)
303. CASH(DFROM)([!]TO) BORROWER 155.182.42 603. CASH(1!l T())(D FROM) SELLER. 456.361.57
The information containC:ci in Blocks E, G. H and I and on line 40] or, if line 401 is asterisked.
lines 403 and 404 is imporrant tax information and is being fornished to the ]nterLal Revenue Service. If you are required to file a return, a negligence
penalty or other sanction will be imposed on Y9U if this item is required 10 be rep,'rted and the ]RS determines that it has not been reported.
HUD-I SETTLEMENT STATEMENT
Q Brainslorm Software 1-540-665-0300
.
W ~RNlNG: It is a crime to knowingly make false Sll!remenrs to the United Slates
on this or any other similar form. Pknalcies upon conviction can include a fine
and imprisonmem. For details see: Tille 18 U.S~ Code Secrion 1001 & 1010.
SETTLEMENT STATEMENT
PAGE 2
L SETILEMENT CHARGES PAID FROM PAID FROM
700. TOTAL SALES/BROKER'S COMMISSION based on price S 467,400.00 @ % = $ BORROWER'S SELLER'S
Division of commission (line 700) as follows: FUNDS AT FUNDS AT
701. $ to SETILEM ENT SETILEMENT
702. S to
703. Commission paid at Setrlemem
704.
800. ITEMS PAYABLE IN CONNECTION \\>11H LOAN '"
801. Loan Origination Fee \;c
802. Loan Discount \;c
803. Appraisal Fee 4.600.00 to Members 1st 4.600.00
804. Credit Reporr to
805. Lender's Inspection Fee
806. Mortgage Insurance Application Fee to
807. Assumption Fee
808. Members 1st loan documentation 550 . 00
809. Members 1 s t flood cert 90.00
810. Members 1st envi rorvnenta 1 report 200.00
811. Members 1st search fee 30.00
900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE
901. Imerest from to @$ /day
902. Mortgage Insurance Premium for momhs ro
903. Hazard Insurance Premium for years to
904.
905.
1000. RESERVES DEPOSITED WITH LENDER
1001. Hazard insurance momhs @ S per momh
1002. Mortgage insurance months @ S per month
1003. City property taxes months @ S per month
1004. County property [axes momhs @ S 180.88 per month
1005. Annual assessments months @ S 397. 63 pe~ month
1006. months @ S per month
1007. months @ S per month
1008.
1100. TITLE CHARGES
1101. Seltlement or closing fee to GRSS
1102. Abstract or rirle search to GRSS . Coon & Compar,y
1103. Titk examination to GRSS
1104. Title insurance binder to GRSS
1105. Document preparation to GRSS
1106. Notary fees to cash 2~,.00
1107. Altorney's fees to GRSS
(includes above items Numbers: )
1108. Title insurance to GRSS (Stewart Title Guaranty) 3.717.50
(inclUdes above items Numbers: )
1109. Lender's coverage S 728.900.00 Members 1st
1110. Owner's coverage S 628.900.00 Hogg Properti es
1111. endorsments 100. 300. 900 150.00
1112. c 1 os; ng servi ce 1 etter 35.00
1113. faith Nicola - 06 county tax 2.170.51
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES , . .
1201. Recording fees: Deed S 43.50 ;Morrgage S 56.50 ; Releases $ 100.00
1202. City/county tax/stamps: Deed S 4,674.00 ;Mortgage $ 4.674.00
1203. State tax/stamps: Deed S 4.674.00 : Mortgage S 4,674.00
1204. record Assigrvnent of Rents 27.00
1205.
1300. ADDITIONAL SETTLEMENT CHARGES
1301. Survey (0
1302. Pest inspection to
1303. Lemoyne 8orough 4/1-6/30 sewer $820: Trash $468 (see HUD addendum) 1.288.00
1304.
1305.
1400. TOTAL SETTLEMENT CHARGES (emer on line ]03, Section J and line 502. Section K) 14.198.50
" 8.132.51
. . CERTIFICATION
,) .~ave.::",a~etulI~ reViewed ~n~ HUD,,-I Se([le~nt Srarement and ro. the best o~ m!, knowledge belief. it' a ue and II curate statement of all receip" and
L~~~__nt. ,no"l" n'l-my a~count or by me 10 thiS transaClIon. 1 further certify 'hat I have ecel ed II co of
C Hogg ~rties. LLC
LLC
April 18, 2006
Date
,If
@(Q)~p
APPRAISAL OF REAL PROPERTY
LOCATED AT:
335 Herman Ave
Deed Book 00153 Page 00113
Lemoyne, PA 17043-1940
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1 - 'WinTOTAL" appraisal software by a la mode, inc. -1-800.ALAMODE
.iI
SUMMARY OF SALIENT FEATURES
Subject Address 335 Herman Ave
Legal Description Deed Book 00153 Page 00113
City Lemoyne
County Cumberland
State PA
Zip Code 17043-1940
Census Tract 42041-0106.00-3
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower I Client NA
Lender The Estate of Betty G. Binkley
Size (Square Feet) 1,260
Price per Square Foot $
Location Suburban
Age 106
Condition Avg
Total Rooms 6
Bedrooms 3
Baths 1
Appraiser Dennis L. Stover
Date at Appraised Value 11-7-05
Final Estimate of Value $ 91,000
Form SSD - 'WinTOTAL' appraisal software by a Ja made, inc. -1-BOO-ALAMODE
"
Borrower NA . . Rle No. 5-1201 R-13
Pronertv Address 335 Herman Ave
City Lemovne County Cumberland State PA ZiD Code 17043-1940
Lender The Estate of Bettv G. Binklev
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to OM of the following definitions:
[8J Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without Invoking the Departure Rule.)
[J Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report is QM of the following types:
C Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal perfomned under STANDARD 1.)
C8J Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal perfomned under STANDARD 1.)
~ Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal perfomned under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties invofved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
APPRAISER:
Signature: ~ J. ~
Name: Dennis L. Stover
Date Signed: 1-16-06
State Certification #: PA Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
o Did
o Did Not Inspect Property
GEORGE CLAUSER
Form 102 - "WinTOTAL" appraisal software by a la mode, inc. -1.800-ALAMODE
, /'
GEORGE CLAUSER
. .., -
Prooortv Address 335 Herman Ave Citv Lemovne State P A Zip Code 17043-1940
Leoal DescriDtion Deed Book 00153 Paae 00113 Counlv Cumberland
Assessor's Parcel No. 12-22-0822-077 Tax Year 05-06 R.E. Taxes $ 1,077 Soeclal Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev OccuDanl: r l Owner 1XI Tenant r l Vacant
ProDertv riahts aoDralsed IXI Fee SimDle I I Leasehold Proiect TVDe I i PUD I I Condominium IHUDNA onlvl HOA ~ NA /Mo.
Neinhbomood Dr Proiect Name Lemoyne Borouah Map Reference 25420 Census Tract 42041-0106.00-3
Sale Price $ NA Date of Sale NA Descriotion and S amount of loan chames/concesslons to be nald bv seller NA
Lender/Client The Estate of Betty G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St. Lemovne PA 170,
AnDralser Dennis L. Stover Address P. O. Box 777, Camp Hill PA 17001-0777
location LJ Urban ~ Suburban LJ Rural Predominant _l!!'b\!' Tlmuy nou'J~ Present land use "to LInd use change
o Over 75% o 25-75% 0 Under 25% occupancy PRI AG lOne family -----IL o Not likely o likely
Built up $(000) (yrs)
Growth rate o Rapid o Stable o Slow o Owner 70 low~ 2-41amily ~ [gJ In process
Property values 0 Increasing o Stable [J Declining o Tenant 650 Hjo~ 150 Multi-lamily ~ To: vacant land to
Demand/supply 0 Shortage [j In balance ':J Over supply [8:1 Vacant (0-5%) 1~_Predomlnant" Commercial 5 residential develooment
Marketino time 5?i Under 3 mos.: 3-6 mos. 'lOver 6 mos. 'I Vac,lover 5%\ I 145 25 Vacant 15
Note: Race and lhe racial composition of the neighborhood are not appraisal faelors.
Nelghbomood boundaries and characteristics: The subiect neighborhood consists of Lemovne Borough in Cumberland County PA.
Factors that affect the marketability 01 the properties in the neighborhood (proximity to employment and amenities. employment stability, appeal to market, etc.):
The orooertv beina valued is located alana the north side of Herman Ave. Shopping, schools and churches are located within 5-10 minutes of
the orooertv. Full service shoooina is available at the Camo Hill and Caoital. City malls aooroximatelv 10-15 minutes. Public school students
attend the West Shore School District. Emolovment centers are located in Harrisbura. Camo Hill York and Mechanicsbura.
Market conditions in the subject neighborhood (including support lor the above conclusions related to the trend of property values, demand/supply, and marketing time
-- such as data on competitive properties lor sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiahborhood are considered moderatelv active with low mortaaae interest rates beina the orimarv catalvst.
Sales in recent weeks have been moderatelv active. Aooroximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetition
with the subiect. Tvoical financina for residential properties includes 60% to 90% loan 1-3ooints 5.5-6.5% mortaaae interest rates for uo to 30
vears. Tvoical marketina time is between 90 and 180 davs.
Project Information for PUDs (11 applicable) - - Is the developer/builder in control 01 the Home Owners' Association (HOA)? U Yes LI No
Approximate total number of units in the subject project Approximate total number 01 units for sale in the subject project
Describe common elements and recreational lacilities:
Dimensions From County Records Topography Avg
Site area .06 Acres Comer lot 0 Yes rR1 No Size Avg
Specific zoning classification and description UR Urban Residential Shape Rectangular
Zoning compliance rR1legal LJ Legal nonconforming (Grandlathered use) [J Illegal o No zoning Drainage Avg
Hiohest & best use as Imomved: rx1 Present use lei Other use lexnlain\ View Avg
Utilities Public Other Olt-slte Improvements Type Public Private landscaping Avg
Electricity ~ 100 AMP Street Macadam rR1 ~ Driveway Surface NA
Gas [8:1 Curb/gutter Concrete [8:1 0 Apparent easements None Known
Water [8:1 Sidewalk Concrete rR1 0 FEMA Special Flood Hazard Area DYes t8J No
Sanitary sewer rR1 Street lights Incandescent ~ 0 FEMA Zone C Map Date 12/4/1979
Storm sewer 5?i AIIev Rear n FEMA Mao No. 42036100018
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): There are no
aooarent easements encroachments soecial assessments slide areas or iIIeaal or leaal nonconformina uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. 01 Units One Foundation ConcrBIQ~ Slab 0 Area Sq. Ft. 630 Roof _0
No. of Stories 2 Exterior Walls Brick Crawl Space 0 % Rnlshed 0% Ceiling ~ [8:1
Type (Det) Alt.) Attached Roof Surface FG/Shnal Basement 100% Celllng Ocen Walls ~ rR1
Design (Style) Traditional Gutters & Dwnspts. Aluminum Sump Pump None Walls ConcrBlock Floor ~[8:I
ExJslinl)lProposed Existina Window Type DblHuna Dampness No Evidence Floor Concrete None _0
Age (Vrs.) 106 Storm/Screens Screens Settiement No Evidence Outside Entry None Unkno~~ 0
Effective Aoe IYrs.\ 15 Manulactured House No Infestation No Evidence
ROOMS Faver livino Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area So. Ft.
Basement Area Star/Mech 630
level 1 1 I 1 1 630
level 2 3 , 1 630
I
Finished area above orade contains: 6 Rooms' 3 Bedroomls\: 1 Bath'sl: 1260 So uare Feet 01 Gross livino Area
INTERIOR Materials/Condition HEATING KITCHEN EaUIP. A me AMENITIES CAR STORAGE:
Floors WoodNinvl Ava Type HW Refrigerator LJ None 0 Fireplace(s) # ~ 0 None 0
Walls Plaster Ava Fuel Oil Range/Oven rR1 Stairs [8:1 Patio NA 0 Garage # of cars
Trim/Rnish Wood Ava Condition Ava Disposal 0 Drop Stair n Deck Rear ~ 0 Attached NA
Bath Roar Vinyl Ava COOLING Dishwasher rR1 Scuttle 0 Porch Front rR1 Detached 1 Car
Bath Wainscot Fiberalass Ava Central NA Fan/Hood 0 Floor [8:1 Fence Wood [8:1 Built-In NA
Doors Wood Avg Other C Fans Microwave 0 Heated 0 Pool NA R Carport NA
Kkchen Floor: Wood-Ava Condition Ava Washer/DrYer Fi Finished Ii Drivewav NA
Additionalleatures (special energy efficient items, etc.): _Dwellina aooears to be well maintained with aood housekeeoina.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality 01 construction, remodelinl)ladditions, etc.: Subiect is a
traditional sMe semi-detached dwelling in averaae condition with a one car detached aaraae. Phvsical: Deoreciation due to aoe and condition
Functional: None External: No adverse locational features noted. .
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxlc substances, etc.) present in the improvements, on the site or In the
immediate vicinity of the subject property.: None Known - aooraiser is not aualified to detect such substances. If the ho'use is sold termite and
radon certifications are suggested. Houses built before 1976 may contain lead base paint.
UNIF.ORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FileNo 51201 R 13
FreddIe Mac Form 70 6/93
PAGE 1 OF2
Form UA2 - "WinTOTAl' appraisal software by a la mode, inc. -1-BOO-AlAMODE
Fannie Mae Fonn 1004 6/93
.,/"
o. -
ESTIMATED SITE VALUE ;= $ Comments on Cost Approach (such as, source of cost estimate, site value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square loot calculation and for HUD, VA and FmHA, the estimated remaining
Dwelling 1,260 Sq. Ft @$ = $ economic lile of the property): "The reoort reauests the
630 Sq. Ft @$ = Reoroductlon Cost aooroach which reauires the construction of
- an exact renlica includino the same materials methods and
Garage/Carport _ Sq. Ft. @$ = workmanshio and must include anv existino functional
Total Estimated Cost New = $ obsolescence. This would be misleadino and makes this method
Less Physical Functional External misleadino. The ReDlacement Cost aooroach mioht be more
Depreciation I I =$ aoorooriate but it reouires reDlacement usino modern materials
Depreciated Value of Improvements =$ methods and workmanshiD. Dlus the elimination of anv oresent
'As-is' Value of Site Improvements =$ functional denreeiation. This too would be mlsleadino. and the
INDICATED VALUE BY COST APPROACH =$ Cost Aooroach Is therefore misleadino."
ITEM T SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
335 Herman Ave 420 Rena St. 903 Bridge SI. 318 Tenth St.
Address Lemovne New Cumberland New Cumberland New Cumberland
Proximilv to SubiP.ct 1.69 miles SE 1.33 miles SE 0.55 miles SW
Sales Price s: NA 1$ 90 005 Is: 80 900 1$ 97.900
Pricp./Gross livinn Area ltJl $ 69.23 ltJl $ 60.55 ltJl 1$ 83.25 ltJ I
Data and/or Inspection CPML, Courthouse, Realtor CPML. Courthouse. Realtor CPML. Courthouse, Realtor
Verification Source NA NA NA NA
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +I~ Adiust. DESCRIPTION +1 -1$ Adlust. DESCRIPTION : +1-\$ Adiust.
Sales or Financing Conventional Conventional FHA :
Concessions None Known None Known Sellers Helo : -1 998
Date 01 Salp.mme 8/4/05 MT 31 2/22/05 MT 202 : +2 500 5/31/05 MT 5 : +2 SOO
Location Suburban Suburban Suburban Suburban :
LeasehOWFee Simole Fee Simole Fee Simole Fee Simnle : Fee Simole :
Site .06 Acres .12 Acres .05 Acres .05 Acres :
View Avn Eoual Eoual Eoual
Desinn and Anneal Traditional Trad Semi-Det Trad Semi-Det Traditional
Qualitv 01 Construction Avo Avo Avo Ava
Ane 106 76 94 79 :
Condition Avn Eoual Eaual : Eoual :
Above Grade Total : Bdrms: Baths Total : Bdrms: Baths : Total : Bdrms: Baths : Total : Bdrms : Baths :
Room Count 6 : 3 1 7 4 1 5 : 3 1.5 6 3 : 1 :
Gross livinn Area 1.260 Sa. Ft. 1 300 Sa. Ft. : -400 1 336 Sn. Ft. : -760 1.176 Sa. Ft. : +840
Basement & Rnished Full Unfinished Full Unfinished Full Unfinished Full Unfinished
Rooms Below Grade Storaae/Mech Storaoe/Mech Storaae/Mech Staraae/Mech
Functional Utililv Ava Ava Ava Ava :
HeatiOOlCoolino OHW /No CA Oil Steam/NA GFW AlNA : GHWlWindow :
Enernv Efficient ttems Insulation Insulation lnsulation : Insulation :
Garanp.fCamort 1 Car Detached NA +2 000 NA +2 000 NA : +2 000
Porch. Patio, Deck, Porch/Deck Porch/Patio Porches Porch/Patio
Firelllacels1. etc. NA Woodstove -1.000 NA : 1 FP -2 000
Fence Pool etc. Wood NA NA : NA :
NA NA : NA : NA :
Net Adi.ttotall fX'I+ f1 - :$ 600 rx1+ r -1- ;~ 3740 fX'I+ il- :$ 1342
Adjusted Sales Price 1$ ls Is:
of Comnarable 90 605 84 640 99 242
Comments on Sales Comparison (including the subject property's compatibHity to the neighborhood, etc.}: Sales used were all reasonablv similar SMa
dwellinos in the same neinhborhood and subiect to reasonablv similar amenities. Adiustments were based on market extraction and/or
iudament. The indicated value ranoe on the above arid extends from $84 640 to $99 242. The indicated market value is estimated to be less
than the UODer end of the value ranoe and at $91 000. Prooertv is currentlv used as a rental with the rent beino !l:695/mo.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date. Price and Data Not Applicable Not Applicable Not Applicable Not Applicable
Source, for prior sales
within year 01 allllralsal
Analysis 01 any current agreement 01 sale, option, or listing 01 subject property and analysis of any prior sales of subject and comparables within one year of the date 01 appraisal:
The subiect is not currentlv offered for sale or under an aareement of sale. No orior sales within three vears.
INDICATED VALUE BY SALES COMPARISON APPROACH .. ~d $ 91 000
INDICATED VALUE BY INCOME APPROACH m Annlicable1 Estimated Market Rent NA. .. .. .iM~. .~ . G~~~~' R~~t M~.tti~ii~~ NA ~S NA
This appraisal is made 0 'as is' D subject to the repairs, atterations, inspections or conditions listed below o subject to completion per plans & specifications.
Conditions of Appraisal: If property is sold, SUbject to satisfactory termite and radon certifications with appraised value based on clear test results.
Rnal Reconciliation: Insufficient market data was available to process the Income Aoproach. The Cost Approach is considered and used as a
check for this aooraisal and tvnicallv sets the UODer limit of value. The Sales Comoarison Annroach is deemed most reliable and oiven oreatest
weinht.
The purpose 01 this appraisalls to estimate 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 Form 439/FNMA lorm 10048 (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEANED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORn TO BE S 91.000
A.PPRAlSEa:-u L ~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Signature Sianature o Did o Did Not
Name Dennis L. Stover Name Inspect Property
Date ReDOrt Sianed 1-16-06 Date ReDort Sioned
State Certification # PA Certified Residential Real Estate Appraiser State PA State Certification # State
Or State License # Certification Number: RL 138906 State PA Or State License # State
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FileN 5 1201 R 13
Freddie Mac Form 70 6/93
PAGE20F2
Form UA2 - "WinTOTAL' appraisal software by a la mode, inc. -l-BOD-ALAMODE
Fannie Mae Form 1004 6-93
@
(Q)~
JP
APPRAISAL OF REAL PROPERTY
LOCATED AT:
347 Hummel Ave
Deed Book Page
Lemoyne, PA 17043-1951
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1 - 'WinTOTAl' appraisal software by a la mode, inc. -1-800.AlAMODE
GEORGE CLAUSER
Summary Report
.. UNIF..oRM RESIDENTIAL APPRAISAL REPORT File No. 5-1201 R-1
Prooertv Address 347 Hummel Ave Cltv Lemovne StatePA ZlD Code 17043-1951
leaal Descrintion Deed Book Paae Countv Cumberland
Assessor's Parcel No. 12-21-0265-264 Tax Year 05-06 R.E. Taxes S 1 685 S"..,lol Assessments $ NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occuoant:1l Owner ~Tenant II Vacant
PmilBiiv lkIhtS aDDraised lX\ Fee SimD\e I "leasehold Prolect TVDe l PUn Il Condominium TttUDNA oriM HOA S NA /Mo.
Nma~~orPro\ectName Lemovne Borouah MaD Reference 25420 Census Tract 42041-0106.00-3
Sale Price S NA Date of Sale NA Deserlnllon an~ l amount of loan eharoeoi'Meession. In he nal~ bv SAner NA
lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St.. Lemovne PA 170.
ADDraiser Dennis L. Stover Address P. O. Box 777 Garno Hill PA 17001-0777
location DUrban f8J Suburban U Rural Predominant PPtI.Qf. OUIl~ Pr...m land UIe % Lancl UIe change
AG
Built up DOver 75% I2SI 25-75% 0 Under 25% occupancy $(000) (yrs) One family ----1!L- o Not likely o likely
Growth rate o Rapid I2SI Stable o Slow I2SI Owner 70 low ~ 2-4 family ----L- I2SIIn process
Property values t8J Increasing o Stable o Declining o Tenant 850 Hiah 150 Multi-family----L- To: vacant land to
Demand/supply t8J Shortage 0 In balance 0 Over supply t8J Vacant (0-5%1 .. Predominant __ Commercial 5 residential develooment
Marketina time ~ Under 3 mos. Ii 3-6 mos. F1 Over 6 mos. Fi Vae.loverS%' 145 25 Vacant 15
..t.: .ace and the racial composRlon of the neighborhood are not appraisal factor..
Heigltborllood boundaries and characteristics: The subiect neiohborhood consists of lemovne Borouah in Cumberland Countv. PA.
Faclln that affect the marketability of the properties in the neighborhood (proximity to employment and amenllles, employment stability, appeal to market, etc.):
The orooerIY beina valued is located alona Hummel Ave. Shoooina. schools. and churches are located within 5-10 minutes ofthe orooerIY.
Full service shooDing is available at the Camo Hill and CaDital City malls. aooroxlmatelv 10-15 minutes. Public school students attend the
West Shore School District. Emolovment centers are located in Harrisbura. Camo Hill York and Mechanicsburo.
Markel 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 sale in the neighborh~, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiahborhoOd are considered moderatelv active with low mortaooe interest rates beina the orimarv catalvst.
Sales in recent weeks have been moderatelv active. ADoroximatelv 5 houses of various sMes are for sale within 5 miles and are in comoetition
with the subiect. Tvolcal financina for residential orooertles includes 80% to 90% loan 1-3ooints 5.5-6.5% mortaaae interest rates for uo to 30
vears. Twical marketina time is between 90 and 180 days.
ProJed InIormaIIOn for PUOI (If applicable) - -Is the developer/bullder in control of the Home Owners' Association (HOA)? DYes DNo
Approldmate total number of units in the subject project Approximate total number of units lor sale in the sub)ect project
Describe common elements and recreational facilities:
Dimensions From Countv Records Topography Aw
Site area .13 Acres MIL Comer Lot fX1 Yes ONo Size Ava
Specific zoning classification and description UR Urban Residential Shape Rectanaular
Zoning compliance t8J legal 0 legal nonconforming (Grandfathered use) 0 Illegal o No zoning Drainage Ava
HI"""" & hAst use as lmnroved: rXf Present use n Other use lemlain\ View Ava
UtI\IIIeI Public Other otr-slte Improvements Type Public Private landscaping Ava
Electricity t8J Street Macadam t8J D Driveway Surlace NA
Gas t'2J Curb/gutter Concrete t8J D Apparent easements None Known
Water ~ Sidewalk Concrete t'2J D FEMA Special Rood Hazard Area DYes ~NO
Sanitary sewer ~ Street lights Incandescent ~ R FEMA Zone C Map Date 121411979
Storm sewer Allev Side FEMA Man No. 420361ooo1B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, Illegal or legal nonconforming zoning use, etc.): There are no
apparent easements encroachments saecial assessments slide areas or illeaal or leaal nonconformino uses known.
GENERAl DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATlON
No. of Unlts One Foundation Stone Slab 0 Area Sq. Ft. 819 Roof _0
No. of Stories 2 Exterior Walls Aluminum Crawl Space 0 % finished 0% Ceiling ~ IZl
Type (Deti Att.) Detached Roof Surlace FG/Shnal Basement 100% Ceiling Open Walls ~ IZl
Design (Style) Traditional Gutters & Dwnspts. Aluminum Sump Pump None WaDs Stone Floor ~ IZl
EmtiT\lVPfOpOsed Exlstina Window Type DblHuno Dampness No Evidence Roor Concrete None _ 0
Age (Yrs.) 86 Storm/Screens Screens Settlement No Evidence Outside Entry Yes Unknown_ 0
Effective Aw . IYrs.\ 15 Manufactured House No Infestation No Evidence Floor Drain
ROOMS Fover livina Dinino Kitchen Den Famllv Rm. Rec. Rm. Bedrooms # Baths LaundN Other Area Sa. Ft.
Basement Stor/Mach 819
Level 1 1 1 1 1 1 819
level 2 4 1 825
Rnished area above orade contains: 7 Rooms' 4 Bedroomfsl: 2 Bath sl: 1 644 Souare Feet of Gross Livtna Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ArnC AMENITIES CAR STORAGE:
Roars Pergo/CotIVin Ava Type HWBB Refrigerator D None 0 Rreplace(s) # ~ 0 None 0
Walls Plaster Ava Fuel Gas Range/Oven t8J Stairs 0 Patio NA 0 Garage # of cars
Tr1m/Finlsh Wood Ava Condition Avg Disposal 0 Drop Stair 0 Deck NA 0 Attached NA
Bath Roar Vinvl Ava COOLING Dishwasher 0 ScutUe [gj Porch Front cgj Detached NA
Bath Wainscot Fiberalass Ava Central NA FarJHood ~ Floor 0 Fence NA D Built-In NA
Doors Wood Ava Other C Fans Microwave 0 Heated R Pool NA R Carport NA
Klk:hen Floor: Vinvl-A w Condition Avg WasherJOrver n finished Drivewav NA
Additional features (special energy efficient Items, etc.): 30 Gallon Gas hot water heater.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Subiect is a
traditional sMe dweJlina in averaae condition. Phvsical: Deoreciation due to aoe and condition. Functional: None External: No adverse
locational features noted.
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.: None Known - aooraiser is not aualifl6d to detect such substances. If the house is sold termite and
radon certifications are suaaested. Houses built before 1978 mav contain lead base caint.
freddie Mac Form 70 6193
PAGE 1 OF 2
Form UA2 -"WlnTOTAl' appraisal software by a la mode, inc. -1-80Q-AlAMODE
Fannie Mae Form 1 004 6193
ESTlMATEOSITEVAlUE .. ........ --- v...... ..a.UlUlOn.u... IIrrnllU..'L nl:rUftl R\eNo. 5-1201 R-1
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: ...... ~ $ Comments on Cost Approach (such as, source of cost estimate, site value
Dwelling 1 ,644 Sq. Ft. @$ = $ square foot calculation and for HUD, VA and FmHA, the estimated remaini~g
819 Sq. Ft. @$ = ec~~~c life of the property): "The reoort renuests the
ReuroducUon Cost aooroach which reouires the construclion of
Garage/Carport _ Sq. Ft. @$: an exact reolica includina the same materials methods and
Total Estimated Cost New workmanshio and must include any exlstina functional
less Physical Functional'. = $ obsolescence. This would be mislead/no and makes this method
Depreciation I I Extemal misleadino. The Reolacement Coat aooroach miaht be more
Depreciated Value of Improvements =$ aonronriate but it renuires renlacement usinn modem materials
'As-is' Value of Site Improvements ... ...... . ...... =$ methods and workmanshio. olus the elimination of any aresent
INDICATED VALUE BY COST APPROACH . ..... .... =~ functional deoreciation. This too would be misleadina. and the
ITEM I SUBJECT ... =~ Cost AoDroach Is therefore misleadlno."
COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO.3
347 Hummel Ave 727 H I A
Address Lemovne umme ve. 224 S. Fifth St. 440 Bosler Ave.
Lemovne Lemovne Lemo-' 'n-e
ProximiIV to SubiP.ct JVI
Sales PriceS 0.32 miles SW 0.13 miles SW 0.11 miles W
u"' NA ..Is 1350001$ 125,,000 I.
PricwGross livlnn Area $ # . rh r c:- ... Ii)
Data and/or 1:Ii 77.76'+-'1 1:Ii 76.92rPl S 82.50rtJl
Inspection CPML, Courthouse, Realtor CPMl, Courthouse, Realtor C
Verification Source NA PMl, Courthouse, Realtor
NA NA NA
VAlUE ADJUSTMENTS DESCRIPTION fl.
Sales or Anancing" DESCRIPTION + -1$ Adlust. DESCRIPTION: + 1-1$ AdIIls!. DESCRIPTION: + (-)$ Adiust.
Concessions Conventional Conventional Conventional
Date of SalefTjme . . . None Known None Known Sellers Heln
.... ..... ..... 10/31/05MT30 : 7/5/05 MT 66 : +2500 4/15'05MT6
location Suburban Suburban: Suburban I'
lea!:l!l1nkllH!P. .SI'm~nIP. F __, : Suburban
ee Simnle Fee Simale Fee SI'm--'le
Site 1 'UII: Fee Simole
. 3 Acres MIL .12 Acres .06 Acres
VIew ._ .12 Acres
Avu Eaual Enual:
Desion and Anoeal T di Eaual
ra tional Traditional Traditional
Qualltv of Construction A~a Traditional
Aoe 8; Avn 'Ava Ava
Cond'ilion ._ 100 1 06 : 86
Ava Eaual Enual:
Above Grade Total 'B' I Enual
, drms ' Baths Total' Bdrms: Baths . T olal : Bdrms: Baths :
Room Count 7 4 2 ' T alai : Bdrms: Baths :
" 7 3 I 1.2 +1,000 7' 3 ' 1.5 :
Gross livino Area 1 644 So + 1 ,500 6: 3 : 2 :
B . Ft. 1 736 So. Ft. -920 1 625 Sa. Ft. : +190 1 600 Sn. Ft. :
asement & Rnished Full Unfinished Full Unfinished Full Unfinished
Rooms Below Grade St --e/.M h Full Unfinished
oraUl ec StoraaelMech Storaae/Mech
Functional UIiliIV Ava Ava : Ava : Storaae/Mech
HeatinolCoolino GHWBB/C F Avn :
___u. ans OHWlWindow GFWAlNo CA G S "
Ene,UY Efficient Items Insulation Insulation Insulatl'on as teamlWind
GaranlllCorMrt NA : Insulation:
1 Car Detached -2 000 NA "
Porch, Patio, Deck, Porch Porch Porches p30Crchar Detached
Arelllacelsl. etc. NA
NA NA
Fence Pool etc. NA NA
NA NA Partial Fence NA
a NA: NA :
Net Adi. ltotall . : I'l fX'] _ : S NA:
Adjusted Sales Price .,. ..' + 1920 IfX'] + '., I'l-:S 4190 I'XI + rl- :$ 440
of Gomoarable .. .."Is 1330801 ..Is I
Comments on Sales Comparison Qncludlng the SUbject property's cornpatibHity to th . 129 190 Is 132 440
dwellinas in the same neiahborhood and sumect 10 reasonablv,' ~,nelghbOrh~Od, etc,)", Sales used were all reasonablv similar stvle
iudar t Th . . Slml ar amenities. Adlustments were based rk t
men. e indIcated value ranae on Ihe above arid extends from $129 19 0 $1 .. on ma e extraction and/or
than the uooer end of the value ranae and at $132 000 S bie ct .,. _ 0 t 133 080. The IndIcated market value is estimated to be less
. u e IS currentlv used as a rental with the rent beina -S750/mo.
132 000
-1 000
+5 000
+440
-4 000
ITEM SUBJECT
Date, Price and Data Not Applicable
Source, for prior sales
within vear of aDDraisal
Analysis of any current agreement of sale, option, or listing of subject pro rty and aI . . .
The subiect is not currentlv offered for sale or under an a:r:emen atn fYSISIOf aNny p~~_sales of sUb!ect and comparables within one year of the date of appraisal:
o sa e. 0 nnor sales WIthin three Years.
INDICATED VALUE BY SALES COMPARISON APPROACH
IN~TED VALUE BY INCOIIEAPPROACH lif ADnlicablel ... -E~ti~~d M~~i R~~t" "s"' - -.. "NA"' -",. --;,-; d' --.... d....",: .:-... --.. d - -- -- $ 132000
thIS appraisal Is made ~ 'as is' 0 subject to the repairs alterati .. . o. x Gross Rent MultiDlier NA .... ~ NA
ConlMtion of If ' ons, Inspections or conditions listed below 0 sub] It I
s ApJnIsal: properlY is sold, subiect to satisfactorY termite and rado rtifl f . ___.' ec 0 comp etion per plans & specifications.
n ce Ica Ions WIth aanralsed value based on clear test results.
Anal Reconciliation: Insufficient market data was available to orocess the Income Ann.
ch~k for this aooraisal and tvaicallv sets the UODer limit of value Th S I Co l:~h. The Cost ~aroach is considered and used as a
_ weight. . e a es m flson AODroach IS deemed most reliable and aiven oreatest
The purpose of this appraisal is to estimate the market value of the real pro erty that is the .
:: and limiting conditions, and market value definition that are stated In the aiached Freddie MSa~b~ect Of4~~~~:' based on the above conditions and the cerlilication, confingenf
I (WE) ESnllATE THE MARKET VALUE, AS DERNED, OF THE REAL PROPERTY THAT IS THE s~rm form 1004B (Revised 6-93 ).
:::: (WHICH IS THE DATE OF INSPEcnDN AND THE EFFEcnvE DATE OF THIS REPORT) TO BE BJECT OF THIS REPORT, AS OF 11-7-05
APPRAI~ ......j $ 132.000
Sianature U _ 1. .s:1= SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Name Dennis L. Stover Sianature
Date Reoort Slaned 1-16-06 Name
State Certiflcalion # PA Celllfied Resldenlfal Real Estate Appraiser State PA Date Re~rt Sinned
. Or State license # Certification Number: RL 138906 51 P State Cer1i!'catlon #
idie Mac Form 70 6193 ate A Or State license #
PAGE 2 OF 2
Form UA2 - .WlnTOTAl' appraisal software by a la mode, inc. -1-BOO-AlAMODE
COMPARABLE NO. 1
Not Applicable
COMPARABLE NO.2
Not Applicable
COMPARABLE NO.3
Not Applicable
o Did 0 Did Not
Inspect Property
State
State
Fanme Mae Form 1004 6-93
(Q\y ..
~~.)I'
~p
APPRAISAL OF REAL PROPERTY
LOCATED AT:
418 Hummel Ave
Deed Book 00151 Page 00742
Lemoyne, PA 17043-1954
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1- 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
SUMMARY OF SALIENT FEATURES
Subject Address 416 Hummel Ave
Legal Description Deed Book 00151 Page 00742
City Lemoyne
County Cumberland
State PA
Zip Code 17043-1954
Census Tract 42041-0106.00-3
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower / Client NA
Lender The Estate of Belty G. Binkley
Size (Square Feet) 1,120
Price per Square Foot $
Location Suburban
Age 64
Condition Avg
Total Rooms 5
Bedrooms 2
Baths 1
Appraiser Dennis L. Stover
Date of Appraised Value 11-7-05
Final Estimate of Value $ 125,000
Form SSD - 'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
File No. 5-1201 R-2
State PA
Zi Code 17043-1954
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to ooe of the following definitions:
[8J Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without Invoklng the Departure Rule.)
=:J Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoklng the
Departure Rule.)
This report is one of the following types:
L.J Self Contained (A written report prepared under Standards Rule 2-2{a) of a Complete or Limited Appraisal performed under STANDARD 1.)
[8J Summary (A written report prepared under Standards Rule 2-2{b) of a Complete or Limited Appraisal performed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2{c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: 0- L s:i:::
Name: Dennis L. Stover
Date Signed: 1-16-06
State Certification #: PA Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
o Did
o Did Not Inspect Property
GEORGE CLAUSER
Form 102 - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
..
GEORGE CLAUSER
Summary Report
. UNIFORM RESIDENTIAL APPRAISAL REPORT File No. 5-1201 R-2
Prnnertv Address 418 Hummel Ave Citv Lemovne State PA ZiD Code 17043-1954
LP.lIaI Descrintion Deed Book 00151 Pace 00742 Countv Cumberland
Assessor's Parcel No. 12-22-0822-065 Tax Year 05-06 R.E. Taxes $1 323 Soeclal Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev OccUDant: [ l Owner IX1 Tenant il Vacant
prooertv riollts aooraised 1><1 Fge Slmnle I Leasehold Proleet Tvne I PUD r l Condominium (HUON A onlv) HOA $ NA /Mo.
Nelohborhood or Proiect Name Lemovne Borouch MaD Reference 25420 Census Tract 42041-0106.0C:L
Sale Price S NA Date of Sale NA OescriDlion and $ amount of loan chames/concessions to be oaid bv seller NA
Lender/Client The Estate of Bettv G. Binkley Address Johnson, Duffie, Stewart. & Weidner, P. C.. 501 Market St., Lemovne. PA 170,
Annraiser Dennis L. Stover Address P. O. Box 777 Camo Hill PA 17001-0777
Location [J Urban ~ Suburban I. J Rural Predominant _~~e family hOUIJ~ Present land un % Land un change
COver 75% t8J 25-75% o Under 25% occupancy PAl AG One family ~ D Not likely o Likely
Built up $(000) (yrs)
Growth rate [] Rapid k8J Stable o Slow IS1 Owner 70 Low ~ 2-4 family ~ [XJ In process
Property values (gj Increasing o Stable o Declining o Tenant 850 Hiah 150 Multi-family ~ To: vacant land to
Demand/supply [XJ Shortage 0 In balance 0 Over supply [XJ Vacant (0-5%) 1_ Predominant" Commercial 5 residential develooment
Marketino time fXi Under 3 mos. n 3-6 mos F1 Over 6 mos. i-I Vac.lover 5%1 145 25 I Vacant 15
lote: Race and the racial compolltlon of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics: The subiect neiahborhood consists of Lemovne Borouoh in Cumberland County. PA.
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The orooertv beina valued is located alono the south side of Hummel Ave. Shoooina. schools and churches are located within 5-10 minutes of
the orooertv. Full service shoooinQ is available at the Camo Hill and Caoital City malls. annroximatelv 10-15 minutes. Public school students
attend the West Shore School District Emolovment centers are located in Harrisbum Camn Hill York and Mechanlcsbura.
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 sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiahborhoad are considered moderatelv active with low mortaaae interest rates beina the orimarv catalvst.
Sales in recent weeks have been moderately active. Aooroximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetition
with the subiect. Tvoical financina for residential oronerties includes 80% to 90% loan 1-3ooints 5.5-6.5% mortaaae interest rates for UP to 30
vears. Tvoical marketina time is between 90 and 180 davs.
Project Information for PUDs (If applicable) - - Is the developerlbuilder in control of the Home Owners' Association (HOA)? l.J Yes 0 No
ApproXimate total number of unns in the subject project Approximate total number of units for sale in the subject project
Describe common elements and recreational facilities:
Dimensions From Countv Records Topography AVQ
Site area .12 Acres Corner Lot 0 Yes o No Size Avo
Specific zoning classification and description UR Urban Residential Shape Rectanaular
Zoning compliance 0 Legal 0 Legal nonconforming (Grandfathered use) 0 Illegal o No zoning Drainage Avo
Hinhes! & best use as imnroved: rX1 Present use !' Other use lexnlain\ View Avo
UtIlities Public Other Off-slte Improvements Type Public Private Landscaping AVQ
Electricity (gj Street Macadam [XJ 0 Driveway Surface NA
Gas [XJ CUrb/gutter Concrete (gj 0 Apparent easements None Known
Water [XJ Sidewalk Concrete [XJ 0 FEMA SpeCial Flood Hazard Area DYes [XJ No
Sanitary sewer ~ Street lights Incandescent ~ 0 FEMA Zone C Map Date 12/4/1979
Storm sewer AIIev None F1 FEMA Mao No. 4203610001 B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc,): There are no
aooarent easements. encroachments. special assessments. slide areas or illeaal or legal nonconforming uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNOA TION BASEMENT INSULATION
No. of Units One Foundation CancrBlock Slab 0 Area Sq. Ft. 1 120 Roof _D
No. of Stories 1.5 Exterior Walls Brick/Frame Crawl Space 0 % Finished 0% Ceiling ~ [X]
Type (DetJAtt.) Detached Roof Surface FG/Shnal Basement 100% Ceiling ODen Walls ~ [gj
Design (Style) CaDe Cod Gutters & Dwnspts. Aluminum Sump Pump None Walls Drv/Blk Floor ~[XJ
Exisling/Proposed Existina Window Type DblHuna Dampness No Evidence Floor Blk Tile/con None _0
Age (Yrs.) 64 Storm/Screens Screens Settlement No Evidence Outside Entry None Unkno~ 0
Effective Aoe IVrs. \ 15 Manufactured House No Infestation No Evidence Floor Drain
ROOMS Faver Livina Dinino Kitchen Den Famllv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area Sa. Ft.
Basement Stor/Mech 1 120
Levell 1 1 1 2 1 1,120
Level 2
Finished area aboVe orade contains: 5 Rooms' 2 Bedroomlsl: 1 Bathls\' 1 120 Souare Feet of Gross Livina Area
INTERIOR Materials/Condition HEATING KITCHEN EOUIP. ATTIC AMENITIES CAR STORAGE:
Floors HdwNin Ava Type HW_ Refrigerator 0 None 0 Fireplace(s) # ~ 0 None 0
Walls Plaster Ava Fuel Oil Range/Oven 0 Stairs [XJ Patio ~_ 0 Garage # of cars
Trim/Finish Wood Avo Condition Ava Disposal 0 Drop Stair 0 Deck NA 0 Attached NA
Bath Aoor Vinvl Ava COOLING Dishwasher n Scuttle 0 Porch Ene. Rear C8J Detached 2 Car
Bath Wainscot Ceramic Tile AVQ Central NA Fan/Hood n Floor C8J Fence Wood (gj Built-In NA
'---.J
Doors Wood Ava Other NA Microwave [] Heated R Pool NA R Carport NA
Kkchen Floor: Vinvl-Avn Condition NA Washer/Drver n Finished Drivewav NA
Additional features (special energy efficient items, etc.): 50 Gallan Electric hot water heater. 1 Garaae door ooener.
Condition of the improvements, depreciation (physical, functional, and extemal), repairs needed, Quality of construction, remodeling/additions, etc.: Subject is a
caoe cod stvle dwellina in averaoe condition with a two car detached oaraoe. Phvsical: Denreciation due to aae and condition. Functional:
None External: No adverse locational features noted.
Advers.e env~r?~mental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or In the
Immediate vl~lmty ~ the sUbJ8ct property.: None Known - aopraiser is not Qualified to detect such substances. If the house is sold termite and
radon certifications are suaoested. Houses built before 1978 mav contain lead base oain\.
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. -1-BOO-ALAMODE
Fannie Mae Form 1004 6/93
.
Summary Report
~ UNifORM RESIDENTIAL APPRAISAL REPORT Ale No. 5-1201 R-2
ESTIMATED SITE VALUE = $ Comments an Cast Approach (such as, source of cast estimate, site value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square foot calculation and for HUD, VA and FmHA, the estimated remaining
Dwelling 1,120 Sq. Ft. @$ = $ economic life of the property): "The report reouests the
1 120 Sq. Ft. @$ = Reoroductlon Cost aooroach which reouires the construction of
= an exact renlica Includino the same materials methods and
Garage/Carport L- Sq. Ft. @$ = workmanshio and must include anv existino functional
Total Estimated Cost New ..= $ obsolescence. This would be misleaQ!!!ll and makes this method
Less Physical Functional External misleadino. The Renlacement Cost aooroach mioht be more
Depreciation I .1__._. =$ aoorooriate but it renuires reolacement usino modem materials,
Depreciated Value of Improvements " =$ methods and workmanshio. olus the elimination of anv oresent
'As-is' Value of Site Improvements =$ functional deoreciation. This too would be misleadino. and the
INDICATED VALUE BY COST APPROACH ,., ....,$ Cost AODroach Is therefore misleadino."
ITEM I SUBJECT COMPARABLE NO.1 COMPI\RI\BLE NO.2 COMPI\RI\BLE NO.3
418 Hummel Ave 230 Walton SI. 60 N. 8th St. 719 Bossler Ave.
Address Lemovne Lemovne Lemovne Lemovne
Proxlmitv to Subiect 0.46 miles E 0.47 miles NW 0.26 miles SW
Sales Price $ NA Is 131 000 1$ 139.900 Is 129 900
Price/Gross Livinn Area $ ctJ$ 111.21 ctJl Is 98.52 ctJ $ 115.98 ctJT
Data and/or Inspection CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
Verification Source NA NA NA NA
VI\LUE ADJUSTMENTS DESCRIPTION DESCRIPTION + H$ Adiust. DESCRIPTION .; i= \$ Adjust. DESCRIPTION : +1-\$ Adjust.
Sales or Financing Conventional Conventional Conventional
Concessions Sellers Helo -3 000 None Known Sellers HelD -3,000
Date of Salemme 10/28/05 MT 31 4/29/05 MT 4 +5.000 4/6/05 MT 32 +5 000
Location Suburban Suburban/Suo , -5 000 Suburban/Suo -5 000 Suburban i
LeaseholdlFee SimDle Fee Simole Fee Simole Fee Simole Fee Simole :
Site .12 Acres .25 Acres .17 Acres .10 Acres :
View Ava Eaual Eaual Eaual
Desinn and AnDeal Caoe Cod Cane Cod Caae Cod Cane Cod
Qualitv of Construction Ava Ava Ava Ava
Alle 64 46 58 106
Condition Avo Eoual Eaual : Equal :
Abllve Grade T olal : Bdnns: Baths Total ; Bdnns ; Baths Total : Bdrms : Baths : Total : Bdrms : Baths :
Room Cllunt 5 2 1 4 2 1 5 : 2 1.5 -1,500 6 : 3 : 1 :
GrDss Livinn Area 1 120 Sll. Ft. 1 178 Sa. Ft. · -580 1 420 Sa. Ft. : -3 000 1 120 Sll. Ft. : 0
Basement & Finished Full Unfinished Full Unfinished Full Unfinished Full Part Finished :
Rooms Below Grade StoraQe/Mech Storaae/Mech Starace/Mech FRlOfclStoraae -4 000
Functional Utilitv Ava AVQ : Ava ; Ava :
Heatina/Coolinn OHW/No CA OFW AlCA : -3 000 OFW AlCA -3 000 GFW AlCA : -3 000
Enerov Etlicient Items Insulation Insulation : Insulation Insulation :
Garane/Camort 2 Car Detached 2 Car Detached : 2 Car Detached NA : +4 000
Porch, Patio, Deck, Porches Porch Porch : Patio
FireDlacelsl etc. NA 1 FP -2 000 1 FP -2 000 NA
Fence Pool etc. Wood NA NA NA :
NA NA NA NA :
Net Adi. Itatall r l + IXI- :$ 13580 r ,+ IXI- :$ 9.500 r l + IXI- :$ 1000
Adjusted Sales Price Is Is Is
of Comnarable 117420 130.400 128,900
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): Sales used were all reasonablv similar sMe
dwellinos in the same neiohborhood and subiect to reasonablv similar amenities. Adiustments were based on market extraction and/or
iudament. The indicated value ranoe on the above Qrid extends from $117 420 to $130.400. The indicated market value is estimated to be less
than the uoner end ofthe value ranee and at $125 000. Proaertv is used as a rental with Ihe renl beinn~710/mo.
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data Not Applicable Not Applicable Not Applicable Not Applicable
Source, for prior sales
within year of annraisal
Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
The subiect is not currentlv offered far sale or under an aareement of sale. No orior sales within three vears.
INDICATED VALUE BY SALES COMPARISON APPROACH ...... $ 125000
INDICATED VALUE BY INCOME APPROACH Itl Annlicable\ Estimated Market Rent '$ NA IMo.'~' G~~~il~~ M~lti~li~;'" NA ,~ NA
This appraisal is made ~ 'as is' U subject to the repairs, alterations, inspections or conditions listed below LJ subject to completion per plans & specilications.
Conditions of Appraisal: If oropertv is sold subiect to satisfactorY termite and radon certifications with annraised value based on clear test results.
Anal Reconciliation: Insufficient market data was available to orocess the Income Aooroach. The Cost Aooroach is considered and used as a
check for this aooraisal and tvoicallv sets the unOAr limit of value. The Sales Comoarison Aooroach is deemed most reliable and aiven oreatest
weioht.
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certificatilln, contingent
and limiting condltlons, and market value delinition that are stated in the attached Freddie Mac Form 439/FNMA form 10048 (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THA TIS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 125,000
APPRAlSE~ S~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Sianature ~ L Sionature o Did o Did Not
Name Dennis L Stover Name Inspect Property
Date ReDort Sianed 1-16-06 Date ReDort Sioned
State Certification # PA Certified Residential Real Estate Appraiser State PA State Certification # State
Or State License # Certification Number: RL 138906 State PA Or State License # State
freddie Mac Form 70 6/93
PAGE 2 OF 2
Farm UA2 - 'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1004 6-93
~ rg /i2' ii'
I
U
APPRAISAL OF REAL PROPERTY
LOCATED AT:
420 Hummel Ave
Deed Book 00251 Page 01095
Lemoyne, PA 17043-1954
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GAl - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
SUMMARY OF SALIENT FEATURES
Subject Address 420 Hummel Ave
Legal Description Deed Book 00251 Page 01095
City Lemoyne
County Cumberland
State PA
Zip Code 17043-1954
Census Tract 42041-0106.00-3
Map Re1erence 25420
Sale Price $ NA
Date 01 Sale NA
Borrower I Client NA
Lender The Estate of Betty G. Binkley
Size (Square Feet) 1,680
Price per Square Foot $
Location Suburban
Age 106
Condition Avg
Total Rooms
Bedrooms 4
Baths
Appraiser Dennis L. Stover
Date 01 Appraised Value 11-7-05
Final Estimate of Value
$ 149,000
Form sso - 'WinTOTAL' appraisal software by a la mode, inc. - 1-800-ALAMODE
File No. 5-1201 R-3
State P A
Zi Code 17043-1954
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to .!lM of the following definitions:
IZI Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without invoking the Departure Rule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report is one of the fOllOWing types:
D Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
IZI Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2 (c) of a Complete or Limited Appraisal pertormed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this aSSignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: 0- J. 9:::
Name: Dennis L. Stover
Date Signed: 1-26-06
State Certification #: PA Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (onl, If required):
Signature:
Name:
Date Signed:
State Certi1ication #:
or State License #:
State:
Expiration Date of Certnication or License:
D Did
D Old Not Inspect Property
GEORGE CLAUSER
Form 102 - "WinTO'T AL" appraisal software by a la mode, inc. - 1-800-ALAMODE
GEORGE CLAUSER
IIlrlY DescrlnHon FileNo. 5-1201 R-3
Prooertv Address 420 Hummel Ave Cltv Lemovne State PA Zio Code 17043-1954
Leaal Descriotion Deed Book 0025\ PaQe 0.10.95 Countv Cumberland
Assessor's Parcel No. 12-22-0822-0.66 Tax Year 05-06 R.E. Taxes $ 1 521 Soecial Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occuoant: I l Owner iXl Tenant r l Vacant
Prooertv riahts aDoraised r><I Fee Simnle r lleasehold Proiect Tvne r l PUD r l Condominium (HUDNA onlvl HOA $ NA /Mo.
Neiahborhood or Proiect Name Lemovne Borouoh Mao Reference 25420 Census Tract 42041-0106.00-3
Sale Price $ NA Date of Sale NA Descrlolion and S amounl 01 loan charoes/concessions 10 be oald bv seller NA
lender/Client The Estate of Bettv G. Blnklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St. Lemovne PA 17o.
ADoraiser Dennis L. Stover Address P. O. Box 777 Camo Hill PA 17001-0777
Location DUrban IZ\ Suburban LJ Rural Predominant ~n~erariil1Yl1ousj~ Present land use % Land use change
PRI AG
Built up o Over 75% IZ\ 25-75% 0 Under 25% occupancy $(000) (yrs) One family -----.1L o Not likely o likely
Growth rate o Rapid IZ\ Stable ':J Slow IZ\ Owner 70 low ~ 2-4family ~ IZ\ In process
Property values IZ\ Increasing Q Stable LJ Declining o Tenant 850 Hlo.h 150 Multi-family ~ To: vacant land to
Demand/supply IZ\ Shortage 0 In balance 0 Over supply IZ\ Vacanl (0-5%) .. Predominant" Commercial 5 residential develooment
Marketino time Ri Under 3 mos. n 3-6 mos. n Over 6 mos. Fi Vac.lover 5%\ 145 25 Vacant 15
Note: Race and the racial composition of Ihe neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics: The subiect neiohborhood consists of Lemovne BorouQh in Cumberland Countv PA.
Factors that affect the marketability 01 the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The orooertv beino valued is located alono Hummel Ave. Shoooino. schools and churches are located within 5-10 minutes of the orooertv.
Full service shoooino is available at the Camo Hill and Canital City malls annroximatelv 10-15 minutes. Public school students attend the
West Shore School District. Emolovment centers are located In Harrisbura. Camo Hill York and MechanicsburQ.
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 sale In the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiohborhood are considered moderatelv active with low mortQaQe interest rates belnQ the primary catalvst.
Sales in recent weeks have been moderatelv active. Aonroximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetition
with the subiect. Tvoical financina for residential orooerties includes 80% to 90% loan 1-3 DOints, 5.5-6.5% mortQage interest rates for uo to 30
Years. Tvoical marketina time is between 90 and 180. days.
Project Information for PUDs (" applicable) - - Is the developer/bullder in control of the Home Owners' Association (HOA)? LJ Yes [j No
Approximate total number 01 unitS in the subject project Approximate total number of units for sale in the subject project
Describe common elements and recreationalfacilltles:
Dimensions From County Records Topography AVQ
Site area .14 Acres M/L Comer Lot [gJ Yes LJ No Size AVQ
Specific zoning classfficatlon and description UR Urban Residential Shape RectanQular
Zoning compliance [SJ Legal 0 Legal nonconforming (Grandfathered use) 0 Illegal o No zoning Drainage Avg
Hiahest & besl use as imoroved: ~ Present use n Other use lexnlain\ View AVQ
Utilities Public Other Off-slte Improvements Type Public Private Landscaping Avo
Electricity IZ\ Street Macadam [SJ 0 Driveway Surface NA
Gas ~ Curb/gutter Concrete [SJ 0 Apparent easements None Known
Water ~ Sidewalk Concrete [SJ 0 FEMA Special Rood Hazard Area DYes [SJ No
Sanitary sewer ~ Street lights Incandescent .~ R FEMA Zone C Map Date 12/4/1979
Storm sewer AIIev Rear FEMA Mao No. 4203610001 B
Comments (apparent adverse easements, encroachments. special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): There are no
aooarent easements encroachments sneclal assessments slide areas or iIIeoal or leaal nonconformino uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units One Foundation Stone/Blk Slab 0 Area Sq. Ft. 840 Roof _0
No. of Stories 2.5 Exterior Walls Brick/Aluminum Crawl Space 0. % Anished 80% Ceiling ~ [SJ
Type (Del./Att.) Detached Roof Surface Slate Basement 100% Ceiling Blk tilefOpen Walls ~ [SJ
Design (Style) Traditional Gutters & Dwnspts. Aluminum Sump Pump None Walls Pan/Blk Floor ~IZ\
Existing/Proposed Existino Window Type DblHuna Dampness No Evidence Floor Con/Cpt None _ lJ
Age (Yrs.) 106 Storm/Screens Screens Sell1ement No Evidence Outside Entry Yes Unknown_ 0
Effective Aoe IYrs.1 15 Manufactured House No Infestation No Evidence
ROOMS Fover livinn Dlnlnn Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area So. Ft
Basement 1 1 1 Stor/Mech 840
Levell 1 1 1 1 840
Level 2 4 1 840
Finished area above arade contains: Rooms' 4 Bedroom's\' 1 Bath(s): 1680 So uare Feet of Gross livino Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Roors Hdw/CoWin Avo Type Steam Refrigerator 0 None 0 Fireplace(s) # ~ [SJ None 0
Walls Plaster Avo Fuel Gas Range/Oven [SJ Stairs [gJ Patio NA 0 Garage # 01 cars
Trim/Finish Wood Avo Condition Ava Disposal 0 Drop Stair 0 Deck NA 0 Attached NA
Bath Floor Cot Avo COOLING Dishwasher 0 Scuttle LJ Porch Front IZ\ Detached 2 Car
Bath Wainscot Ceramic Tile Ava Central NA Fan/Hood 0 Floor ~ Fence NA 0 Built-In NA
Doors Wood Avo Other C Fans Microwave R Heated R Pool NA R Carport NA
Kllchen FloOr: Vinvl-Avn Condition Avo Washer/llrver Finished Drivewav NA
Additional features (special energy efficient items, etc.): 30 Gallon Gas hot water heater.
Condition of the Improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Subiect is a
traditional stvle dwellino in averaae condition with a two car detached naraae. Phvsical: Deoreciation due to aoe and condition. Functional:
None External: No adverse locational features noted.
Adverse environmental conditions (such as, but not limited 10, hazardous wastes, toxic substances. etc.) present In the improvements, on the site, or in the
immediate vicinity of the subject property.: None Known - anoraiser is not nualified to detect such substances. If the house is sold termite and
radon certifications are suooested. Houses built before 1978 may contain lead base oaint.
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - 'W1nTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1004 6/93
udon SeeIIon o. -
ESTIMATED SITE VALUE .., = $ Comments on Cost Approach (such as, source of cost estimate, site value,
ESTIMATED REPRODUCTION COST.NEW-OF IMPROVEMENTS: square foot calculation and for HUD, V A and FmHA, the estimated remaining
Dwelling 1.680 Sq. Ft. @$ =$ economic life of the property): "The report reQuests the
840 Sq. Ft. @$ = Reproduction Cost approach which reQuires the construction of
= an exact replica, including the same materials methods and
Garage/Carport L- Sq. Ft. @$ = workmanship and must include any existing functional
lotal Estimated Cost New ,=$ obsolescence. This would be misleading and makes this method
less Physical Functional External misleading. The Replacement Cost approach miaht be more
Depreciation I I =$ appropriate. but it reQuires replacement usino modem materials
Depreciated Value of Improvements , =$ methods and workmanship, plus the elimination of anv present
"As-Is" Value of Site Improvements =$ functional deareciation. This too would be misleadino. and the
INDICATED VALUE BY COST APPROACH '., ..-........__........... =$ Cost AoDroach Is therefore misleading."
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
420 Hummel Ave 28 N. Fourth SI. 727 Hummel Ave. 440 Bosler Ave.
Address Lemovne Lemovne Lemoyne Lemoyne
Proximity to Subject 0.26 miles NW 0.25 miles SW 0.08 miles NW
Sales Price Is NA 1$ 139 900 1$ 135 000 Is 132,000
Price/Gross livina Area Is rt: $ 88.54 ibl Is 77. 76 ltJl $ 82.50 rtJ I
Data and/or Inspection CPML, Courthouse, Realtor CPML, Courthouse. Realtor CPMl, Courthouse, Reallor
Verification Source NA NA NA NA
VAlUE ADJUSTMENTS DESCRIPTION DESCRIPTION : +HS Adlust DESCRIPTION +( -)$ Adjust. DESCRIPTION : +( -lS Adjust.
Sales or Financing Conventional Conventional Conventional
Concessions None Known None Known Sellers Help -1 000
Date of Sale/Time 11/29/04 MT 47 +5 000 10/31/05 MT 30 4/15/05 MT 6 : +5 000
Location Suburban Suburban Suburban Suburban :
Leasehold/Fee Simple Fee Simple Fee SimDle : Fee SimDle Fee Simole :
Site .14 Acres M/l .13 Acres .12 Acres .12 Acres :
View Avg Equal Equal : Equal
Desion and Anpeal Traditional Traditional Traditional Traditional
Qui!liri of Construction Ava/Brick/Alum Avg/Brick/Alum : Inferior/Aluminum : +2 500 Avo/Brick/Alum
Aoe 106 86 100 86
Condition Ava Equal EQual EQual :
Above Grade Total : Bdrms: Baths Total : Bdrms: Baths ' lotal : Bdrms: Baths : Total : Bdrms : Baths :
Room Count : 4 : 1 8 4 : 1.5 +1,500 7 : 3 : 1.2 +1,000 6 : 3 : 2 :
Gross Livina Area 1 680 Sa. Ft. 1 580 Sa. Ft. : +1 000 1 736 Sa. Ft. : -560 1 600 Sa. Ft. : +800
Basement & Rnished Full Part Finished Full Unfinished Full Unfinished Full Unfinished
Rooms Below Grade 80% Storace/Mach +6 000 Storace/Mech +6 000 StoracefMech +6.000
Functional Utilitv Ava Ava Avc , Ava :
Heatina/Coolino Gas Steamf Fans OFW ArNo CA OHW/Window Gas Steam/Wind :
Energy Efficient items Insulation Insulation Insulation : Insulation :
Garage/Carport 2 Car Detached NA +4 000 1 Car Detached +2 000 3 Car Detached : -2,000
Porch, Patio, Deck, Porch Porches : Porch Porch
Flreplacelsl. etc. 1 FP NA NA +2 000 NA +2 000
Fence Pool etc. NA NA NA NA :
NA NA NA NA :
Net Adj. (total) rx:J+ il- :$ 17 500 LXJ+ r l- :s 12,940 IXI+ ! '-:$ 10,800
Adjusted Sales Price Is Is 1$
of Comparable ., 157400 147940 142 800
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): Sales used were all reasonably similar stvle
dwellings in the same neiahborhood and subject to reasonably similar amenities. Adiustments were based on market extraction and/or
I judgment. The indicated value range on the above arid extends from $142,800 to $157 400. The indicated market value is estimated to be less
than the upper end of the value ranae and at $149 000. Subiect is currentlv used as a rental with the rent beina $750fmo.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO. 3
Date, Price and Data Not Applicable Not Applicable Not Applicable Not Applicable
Source, for prior sales
within vear of appraisal
Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
The subiect is not currently offered for sale or under an aareement of sale. No prior sales within three Years.
INDICATED VALUE BY SALES COMPARISON APPROACH .._ H. . .--..-..--.--..-..--..-.--.....---...--..-..- $ 149000
INDICATED VALUE BY INCOME APPROACH (if Applicable) Estimated Market Rent $ NA /Mo. x Gross Rent Multiplier NA "",s NA
lhls appraisal is made cgj "as Is" LJ subject to the repairs, alterations, inspections or conditions listed below U SUbject 10 completion per plans & specnlcations.
Condlllons of AppraiSal: If DroDertv is sold, subject to satisfactorY termite and radon certifications with appraised value based on clear test results.
Rnal Reconciliation: Insufficient market data was available to process the Income Approach. The Cost Approach is considered and used as a
check for this aporaisal and tvoicallv sets the UDPer limit of value. The Sales Comnarison Annroach is deemed most reliable and oiven oreatest
weight.
The purpose of this appraisal is to estimate the market value of the real property that is the subject of 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 Form 439/FNMA form 10048 (Revised 6-93 ).
'(WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORn TO BE $ 149.000
APPRAlSE~ ~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Sionature J. Slanature o Did o Old Not
Name Dennis l. Stover Name Inspect Property
Date Report Sioned 1-26-06 Date Rm>ort Signed
State Certification # PA Certilled Residential Real Estate Appraiser State PA State Certification # State
Or State License # Certification Number: RL 138906 SlatePA Or State License # State
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FIIeN 51201 R 3
Freddie Mac Form 70 6/93
PAGE 2 OF 2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-AlAMODE
Fannie Mae Form 1004 6-93
({})/!2J\jy
APPRAISAL OF REAL PROPERTY
LOCATED AT:
424 Hummel Ave
Deed Book 00165 Page 00546
Lemoyne, PA 17043-1954
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1 - "WinTOl"AL" appraisal software by a la mode, inc. -1-BOO-ALAMODE
SUMMARY OF SALIENT FEATURES
Subject Address 424 Hummel Ave
Legal Description Deed Book 0016S Page 00546
City Lemoyne
County Cumberland
State PA
Zip Code 17043-1954
Census Tract 42041-0106.00-3
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower / Client NA
Lender The Estate of Betly G. Binkley
Size (Square Feet) 2,181
Price per Square Foot
Location Suburban
Age 104
CondRion Avg
Total Rooms 8
Bedrooms 4
Baths 2
Appraiser Dennis L. Stover
Date of Appraised Value 11-7-05
Final Estimate of Value
$ 165,000
Form SSD - 'WlnTOTAL' appraisal software by a la mode, inc. -1-BOO-ALAMODE
Borrower NA File No. 5-1201 R-4
ProJtP.rtv Address 424 Hummel Ave
CItv Lemovne County Cumberland State PA Zio Code 17043-1954
Lender The Estate of Bettv G. Binklev
APPRAISAL AND REPORT IDENTIFICATION
This appraisal conforms to .on.ft of the following definitions:
[g] Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without Invoking the Departure Rule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report is 0.D.!l of the following types:
o Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
[g] Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report. and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared. in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: 0- 1. ~
Name: Dennis L. Stover
Date Signed: 1-26-06
State Certification #: PA Certified Resldentlel Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
o Did
o Did Not Inspect Property
GEORGE CLAUSER
Form 102 - 'WinTOTAL' appraisal software by a la mode, inc. -1-BOO-ALAMODE
GEORGE CLAUSER
Summary Report
Il!I'tvDescrlDUon UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 5-1201 R-4
Prooertv Address 424 Hummel Ave City Lemoyne State PA ZiD Code 17043-1954
LeoalDescrlDllon Deed Book 0016S Paae 00546 County Cumberland
Assessor's Parcel No. 12-22-0822-067 Tax Year 05-06 R.E. Taxes S 1 735 Sl1f!clal Assessments s NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occunant: IX' Owner r Tenant 11 Vacant
Prooertv riohts aooralsed I)ij Fee SimDle r 1 Leasehold Prolect TVDe 1 PUD I -I Condominium (HUDNA onlv) HOA S NATMo.
Neiahborhood or Proiect Name Lemovne Borouah Mao Reference 25420 Census Tract 42041-0106.00-3
Sale Price S NA Date of Sale NA Descrintion and S amount of loan charnes/coneesslons to be nald bv seller NA
Lender/Client The Estate of Bettv G. Blnklev Address Johnson Duffie Stewart & Weidner. P. C. 501 Market St. Lemovne PA, 170.
Aooralser Dennis L. Stover Address P. O. Box 777 Camo Hill PA 17001-0777
Location U Urban [81 Suburban 0 Rural Predominant p~ll:'Ee family hO~~~ Prese~tland uae % Land uae change
Built up 0 Over 75% ~ 25-75% 0 Under 25% occupancy $(000) (yrs) One family -----.IL 0 Not likely 0 Likely
Growth rate 0 Rapid ~ Stable D Slow ~ Owner 70 Low ~ 2-4 family ~ ~ In process
Property values ~ Increasing 0 Stable 0 Declining D Tenant 850 Hioh 150 Multi-family ~ To: vacant land to
Demand/supply ~ Shortage D In balance 0 Over supply [g] Vacant (0-5%) .. Predominant 11II Commercial 5 residential develooment
Marketino time rx1 Under 3 mos. Fi 3-6 mos. Fi Over 6 mos. n Vae./over 5%\ 145 25 Vacant 15
Note: Race and the racial composition of the neighborhood are not appralsel factors.
Neighborhood boundaries and characteristics: The sublect neiahborhood consists of Lemoyne Borouah In Cumberland Countv. PA.
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The orooertv belna valued is located alona Hummel Ave. Shoooina. schools and churches are located within 5-10 minutes of the orooertv.
Full service shoooina is available at the Camo Hill and CaDital Citv malls aooroximatelv 10-15 minutes. Public school students attend the
West Shore School District. Employment centers are located in Harrisburg, Camp Hill. York. and Mechanlcsburg.
Market conditions in the sublect 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 sale In the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiDhborhood are considered moderatelv active with low mortaaae interest rates beina the primarv catalvst.
Sales in recent weeks have been moderately active. Aooroximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetilion
with the subiect. Tvoical financina for residential properties includes 80% to 90% loan 1-3 ooints, 5.5-6.5% mortaaae interest rates for uo to 30
I Years. Typical marketina time is between 90 and 180 days.
ProJect Information for PUDs (~applicable) - -Is the developer/bullder In control of the Home Owners' Association (HOA)? 0 Yes 0 No
Approximate total number of units In the subject prolect Approximate total number of units for sale in the subject project
Describe common elements and recreational facilities:
Dimensions From CourliV Records Topography Ava
Site area .27 Acres M/L Comer Lot ~ Yes D No Size Ava
Spec~lc zoning classification and description UR Urban Residential Shape Rectanoular
Zoning compliance ~ Legal 0 Legal nonconforming (Grandfathered use) 0 Illegal 0 No zoning Drainage Avo
Hlnhest & best use as Imoroved: rX1 Present use n Other use (exDlain\ View Avg
Utilities Public Other 011-"18 Improvements Type Public Private Landscaping Ava
Electricity ~ 60 AMP Fuses Street Macadam ~ 0 Driveway Surface NA
Gas D NA CUrb/gutter Concrete ~ 0 Apparent easements None Known
Water ~ Sidewalk Concrete ~ D FEMA Special Flood Hazard Area 0 Yes ~ No
Sanitary sewer ~ Streetlights Incandescent ~ D FEMA Zone C Map Date 12/4/1979
Storm sewer rx1 Allev Rear XI Fi FEMAMaoNo.4203610001B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, Illegal or legal nonconforming zoning use, etc.): There are no
apparent easements encroachments soecial assessments slide areas or illeoal or leoal nonconformina uses known.
GENERAL DESCRIPTION
No. of Units One
No. of Stories 3
Type (DetJAIt.) Detached
Design (Style) Traditional
Existing/Proposed Existi na
Age (Yrs.) 104
Effective Am (Yrs.) 15
ROOMS Fover
Basement
Levell
Level 2
Level 3
Finished area above orade contains: 8 Rooms' 4 Bedroom/sl:
INTERIOR Materials/Condition HEATING KITCHEN EQUIP.
Floors Hdw/CoWin Ava Type HW Refrigerator 0
Walls Plaster/Pan Ava Fuel Oil Range/Oven ~
Trim/Finish Wood Ava Condition Ava Disposal [J
Bath Floor CoWin COOLING Dishwasher ~
Bath Wainscot Ceramic Tile Ava Central NA Fan/Hood ~
Doors Wood Ava Other NA Microwave 0
Kitchen Floor: Block Tile Ava Condition NA Washer/DrYer n
Additional features (special energy efficient Rems, etc.): 60 AMP Fuses
EXTERIOR DESCRIPTION
Foundation Stone
Exterior Walls Brickllnsulbrick
Roof Surface Slate
Gutters & Dwnspts. Aluminum
Window Type DblHuna
Storm/Screens Screens
Manufactured House No
Dinino Kitchen
FOUNDATION
Slab 0
Crawl Space 0
Basement 100%
Sump Pump None
Dampness No Evidence
Settlement No Evidence
Infestation No Evidence
Familv Rm. Rec. Rm. Bedrooms
BASEMENT
Area Sq. Ft. 1 120
% Finished 0%
Ceiling aDen
Walls Stone
Floor Con/Dirt
Outside Entry Yes
Floor Drain
# Baths Laundrv
INSULATION
Roof _ D
Ceiling ~ ~
Walls ~~ ~
Floor ~ ~
None 0
Unknown D
Livino
Den
Other
Stor/Mech
ATTIC
None
Stairs
Drop Stair
Scuttle
Floor
Heated
Finished
3
1
2 Bath/sl:
AMENITIES
o Fireplace(s) # ~ 0
~ Patio NA 0
D Deck NA 0
o Porch FronVRear ~
~ Fence Partial ~
~ Pool NA P
2182
Area So. Ft.
1,120
1007
1007
168
Souare Feet of Gross Livinn Area
CAR STORAGE:
None 0
Garage
Altached
Detached
Built-In
Carport
Drivewav
# of cars
NA
2 Car
NA
NA
NA
Condition of the improvements, depreciation (physical. functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Subiect is a
traditional stvle dwellina in averaae condition with a two car detached aaraae. Phvsical: Deoreciation due to aae and condition. Functional: 60
AMP Fuses. External: No adverse locational features noted.
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the Improvements, on the sRe, or in the
Immediate vicinity of the subject property.: None Known - appraiser is not gyalified ta detect such substances. If the house is sold. termite and
radon certifications are suaaested. Houses built before 1978 mav contain lead base oaint.
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - 'WlnTOTAL' appraisal software by a la mode,lnc. -l-aOO-ALAMODE
Fannie Mae Form 1004 6193
FileNo. 5-1201 R-4
Comments on Cost Approach (such as, source 01 cost estimate, sne value,
square foot calculation and lor HUD, VA and FmHA, the estimated remaining
economic Ine of the property): ''The reoort reauests the
ReDroductlon Cost aooroach which reauires the construction of
an exact reolica includina the same materials, methods and
workmanshio and must include anv existina functional
obsolescence. This would be misleadina and makes this method
misleadina. The ReDlacement Cost aooroach miaht be more
"'$ aDDroDriate but it requires replacement usina modem materials
. . . .. '" $ methods and workmanship. plus the elimination of anv Dresent
"'$ functional deoreciation. This too would be misleadina. and the
__........ .... __ .... =$ Cost ADDroach Is therefore misleadina."
COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
28 N. Fourth St. 350 Park Ave. 510 Sixteenth 51.
Lemovne New Cumberland New Cumberland
0.26 miles NW 0.65 miles NW 0.87 miles SE
NA 1$ 139 900 I~ 190000 1$
rP$ 88.54rPl I~ 109.57IPI 90.18IPI
CPML, Courthouse, Realtor CPML. Courthouse, Realtor CPML, Courthouse, Realtor
NA NA NA
OESCRIPTION +H$ Adlust. DESCRIPTION: +H$ Adlust
Conventional' Conventional
None Known, None Known
11/29/04 MT 47 +5000 11/21/05 MT 10 :
Suburban Suburban Suburban
Fee Simole Fee Simole Fee SimDle
.27 Acres M/L .13 Acres .39 Acres
Ava Equal Enual
Traditional Traditional Traditional
Avo/Brick/Alum Avo/Brick/Alum Avo/Brick/Alum
104 86 ' 58
Avo Eaual ' Sun. KIt/Bath :
Total: Bdrms: Baths Total : Bdrms : Baths: Total : Bdrms : Baths:
8 : 4 : 2 8 4 1.5: +1.500 6: 3 : 2
2181 So. Ft. 1 580 So. Ft. : +9015 1 734 So. Ft. "
Full Unfinished Full Unfinished Full Unfinished
Storaoe/Mech Storaae/Mech StoranelMech
lnf/60AMP Fuses Ava -1 500 Avn
OHW /No CA OFW A1No CA: OHW /No CA
Insulation Insulation: Insulation
NA NA 1 Car Detached
Porches Porches Porch/ Lg. Deck
NA NA lFP
NA NA NA
NA NA NA:
NetAdLltotall'; 'CC R\ + r l- :$ 14015 r l + fX'1- :$ 14795 r l + fX'1- :~
Adjusted Sales Price '\ I I
01 Comoarable/$ 153915 Is 175 205 I~ 167770
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): Sales used were all reasonablv similar stvle
dwellinQs in the same neiohborhood and subiect to reasonablv similar amenities. Adiustments were based on market extraction and/or
IludQment. The indicated value ranoe on the above arid extends from $153915 to $175 205. The indicated market value is estimated to be less
than the uDDer end of the value ranae and at $165 000. Subiect was used as Mrs. Binklev's oersonal residence.
UNIFORM RESIDENTIAL APPRAISAL REPORT
V udIon SlIetlon
fSTIMATED SITE VALUE .
ESTIMATED REPRODUCTION COST -NEW-OF IMPROVEMENTS:
Dwelling 2,181 Sq. Ft. @$ = $
1120Sq.Ft.@$ '"
Garage/Carport L- Sq. Ft. @$
Total Estimated Cost New
Less Physical
Depreciation I
Depreciated Value 01 Improvements
'As.is" Value of Site Improvements
INDICATED VALUE BY COST APPROACH .
ITEM SUBJECT
424 Hummel Ave
Address Lemovne
Proximitv to Sublect
Sales Price I ~
Price/Gross Livino Area I Si
Data and/or
Verification Source
VALUE ADJUSTMENTS
Sales or Financing
Concessions
Date 01 Salemme
Location
Leasehold/Fee SimDle
Site
View
Desion and AODeal
QualitY of Construction
Aoe
Condition
Above Grade
Room Count
Gross Livino Area
Basement & Anished
Rooms Below Grade
Functional Utilitv
HeatinalCoolino
Enerov Efficient ~ems
Garaoe/Camort
Porch, Patio, Deck,
RreolaceCsl. etc.
Fence Pool etc.
..H.'" $
Functional
'H. = $
Extemal
Summary Report
168.000
+6 705
DESCRIPTION :
Conventional
None Known
3/29/05 MT 215
Suburban
Fee Simole
.42 Acres
Ava
Traditional
Inf.Frame
85
AVQ :
T alai : Bdrms: Baths :
8 : 4 : 2.5 :
1.863 So. Ft. :
Full Unfinished :
Storaae/Mech :
Ava :
GFW A1CA
Insulation
1 Car Detached :
Deck/Porch
1FP
NA
+H$ Adiust.
Inspection
NA
OESCRIPTION
.
.5 000
-10000
SUBJECT
Not in the last
year.
COMPARABLE NO.1
No Prior sale within the last
year.
COMPARABLE NO.2
No Prior sale within the last
year.
+5.000
T
~
-t
.5 000
+5 000
-1,500
+4 770
-1 500
-1,500
-3.000
-2 000
-2 000
-1,000
-2.000
-2.000
230
COMPARABLE NO.3
No Prior sale within the last
year.
ITEM
Date, Price and Data
Source, lor prior sales
within vear of aDoraisal
Analysis of any current agreement ot sale, option, or listing of subject property and analysis 01 any prior sales of subject and com parables within one year of the date 01 appraisal:
The subiect is not currentlv offered for sale or under an aQreement of sale. No nrior sales within three vears.
INDICATED VALUE BY SALES COMPARISON APPROACH ._..._ __. ." $ 165000
INDICATED VAlUE BY INCOME APPROACH lnADDlicable) H Estimated Market Re~t $ NA /Mo. x Gross Rent MulliDlier NA = $ NA
This appraisal is made ~ 'as is' 0 subject to the repairs, aRerations, inspections or conditions listed below U subject to completion per plans & specifications.
Conditions of AppraiSal: If propertY is sold subiect to satisfactory termite and radon certifications with aooraised value based on clear test results.
Final Reconciliation: Insufficient market data was available to process the Income ADoroach. The Cost AODroach is considered and used as a
check for this aooraisal and tvDlcallv sets the UDDer limit of value. The Sales Comoarison Approach is deemed most reliable and oiven oreatest
weicht.
The purpose of this appraisal is to estimate the market value of 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 definlllon that are stated in the attached Freddie Mac Form 439/FNMA form loo4B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DERNED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT. AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 165,000
A~PRAISE~ c::: / S~PERVlSORY APPRAISER (ONLY IF REQUIRED):
SIQnature ---U 1. ~ Slonature
Name Dennis L. Stover Name
Date Report Sioned 1-26-06 Date Report Sioned
State Certification # PA Certlfled Residential Real Estate Appraiser State PA State Certification #
Or State License # Certification Number: RL 138906 State PA Or State License /I
Freddie Mac Form 70 6/93
PAGE 2 OF 2
Form UA2 - 'WinTDTAL" appraisal software by a la mode, inc. -l-BOO-ALAMODE
o Old 0 Did Not
Inspect Property
State
State
Fannie Mae Form 1004 6.93
APPRAISAL OF REAL PROPERTY
LOCATED AT:
427 Hummel Ave
Deed Book 0028G Page 00934
Lemoyne, PA 17043-1955
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne. PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
P. O. Box 777
Camp Hill, PA 17001-0777
Form GAl - 'WlnTOTAL" appraisal software by a la mode, inc. -1-aOO-ALAMODE
File No. 5-1201 R-5
State PA
Zi Code 17043-1955
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to OM of the following definitions:
[gJ Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without invoking the Departure Rule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from invoking the
Departure Rule.)
This report is .one of the following types:
o Self Contained (A wrmen report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
[8J Summary (A wrmen report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
o Restricted (A wrmen report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
o The statements of fact contained In this report are true and correct.
o The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional
analyses, opinions and conclusions.
o I have no (or the specnied) present or prospective Interest In the property that Is the subject of this report, and no (or the specnled) personal Interest with respect to the parties
Involved.
o I have no bias with respect to the property that is the subject of this report or the parties involved with this aSSignment.
D My engagement in this assignment was not contingent upon developing or reporting predetermined resuits,
D My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the
client, the amount of the value opinion, the attainment of a stipulated resuit, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
D My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of professional Appraisal Practice.
D I have made a personal inspection of the property that is the subject of this report.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: ~ ). ~
Name: Dennis L. Stover
Date Signed: 1-30-06
State Certification #: PA State Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certnication or License:
o Did r J Did Not Inspect Property
GEORGE CLAUSER
Form 102 - "WinTOTAL" appraisal software by a la mode, inc. -1-BOO-ALAMODE
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
Summary Report
File No. 5-1201 R-5
ProDertv Address 427 Hummel Ave Citv Lemovne State PA ZiD code 17043-1955
LeDal DescriDtion Deed Book 0028G Paae 00934 County Cumberland
Assessor's Parcel No. 12-21-0265-237 Tax Year 05-06 R.E. Taxes S 1 476 SDecial Assessments $ NA
Neiohborhood or Prolect Name Lemovne Borouah MaD Reference 25420 Census Tract 42041-01 06.00-3
Borrower NA Current Owner The Estate of Betty G. Binklev OccuDant r l Owner I'XI Tenant Il Vacant
Prooertv rlohts aooraised I'XI Fee Simole I I Leasehold I Proiect TVDe I PUD r l Condominium HOA $ NA /Mo.
Sales Price S NA Date of Sale NA Descrlotlon and S amount of loan charoes/concessions to be oaid bv seller NA
Lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St. Lemovne PA 17043-
Aooralser Dennis L. Stover Address Clauser Real Estate Appraisals P. O. Box 777 Camp Hill PA 17001
Location U Urban [;><;J Suburban U Rural ~rn;~'?l:a~t -!;illle family hOU~I~~ trrJ!:m'Rant fW8~ family housln~~~
ngle ami y fW8 ) fy~ am y
Built up DOver 75% [:8J 25-75% o Under 25% Occupancy Occupancy
Growth rate o Rapid [:8J Stable o Slow [:8J Owner c---lL Low -L 0 Owner ~Low~
Property values D Increasing cg] Stable D Declining D Tenant 850 Hioh 200 cg] Tenant 250 Hloh 200
Demand/supply D Shortage cg] In balance D Over supply cg] Vacant (0-5%) III Predominant II1II cg] Vacant (0-5%) .. Predominant _I
Marketino time n Under 3 mos. F.X:i 3-6 mos. n Over 6 mos. n Vacantcover 5%\ 145 25 I r l Vacantcover 5% 125 75
Typical 2-4 lamlly bldg. Type Traditional No. stories 2 No. units ~ Age ~ yrs. Present land use % Land use change
Typical rents S ~ to $ 700 D Increas~ Stable D Declining One fannlly ~ D Not likely D Likely
Est. neighborhood apt. vacancy ~ % D Increasing [:8J Stable D Declining 2-4 family ~ cg] In process to:
Rent controls DYes cg] No D Likely II yes or likely, describe Multi-family 5 Vacant land to
Commercial 5 residential.
II I
Note: Race and the racial composition 01 the neighborhood are not appralsallactors.
Neighborhood boundaries and characteristics: Subiect is in a suburban location in Lemovne Borouah Cumberland County. Schools. shoppina. are
within 5-10 minutes. Emplovment centers are Harrisbura. Camp Hill York Mechanicsbura. and surrounding communities. Public School
students attend the West Share School District.
Factors that affect the marketability of the properties In the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The subiect neiahborhood is comprised of a compatible mixture of sinale familv. multi-familv. and conversion apartments. All are of reasonably
similar aualitv and aopeal with tvpical condition beina averaae for 2-4 unit/multi-family prooerties. Demand for rentals appears to be averaae
and no rent controls are anticipated.
The following avallable IIsdngs represent the most current, similar, and proximate compeddve properties to the subject property in the subject neighborhood. This analysis Is in-
tended to evaluate the Inventory currendy on the market compedng with the subject property In the subject neighborhood and recent price and markedng dme trends affecdng the sub-
ject property. (Usdngs outside the sublect neighborhood are not considered applicable). The IIsdng comparables can be the rental or sale comparables If they are currendy for sale.
ITEM SUBJECT COMPARABLE LISTING NO.1 COMPARABLE LISTING NO.2 COMPARABLE LISTING NO.3
427 Hummel Ave 145 Herman Ave. 615 Bosler Ave. 222-224 Herman Ave.
Address Lemoyne Lemoyne Lemoyne Lemoyne
Proximitv to subiect 0.25 miles NE 0.17 miles SW 0.18 miles NE
Listino orice $ NA I'XI Unf. n Fum. $ 135 000 I'XI Unf. ! l Furn. $ 129 900 I'XI Un!. Il Fum. $ 149 900
Aooroximate GBA 1904 1880 1204 2000
Data source Insoectlon MLS MLS MLS
# Unlts/T ot. rms.lBRlBA 2 : 9: 4 2 2 : 7 3 2 2 6 : 2 2 2 10 : 6 : 2
Aooroximate vear built 1895 1920 1930 1900
Aoorox. davs on market NA 89 107 4
Comparison of listings to subject property: Listinas are all in the same aeneral market area featurina similar des ion and amenities. They appear to
be reasonably similar to the subiect.
Market conditions that affect 2-4 family properties In the subject neighborhood (Including the above neighborhood indicators of growth rate, property values,
demand/supply, and marketing time) and the prevalence and Impact In the subjecl market area regarding loan discounts, interest buydowns and concessions, and
identification of trends In listing prices, average days on market and any change over past year, etc.: Market conditions for 2-4 family properties are considered
mildly active due to an uncertain economy. There are orooerties for sale in the same neiahborhood and in competition with the subiect. As a
result the properties must be comoetivlev priced in an effort to secure a buver. Marketina lime can exceed six months dependlna uoon the
condition of the orooertv and auality of the tenants.
Dimensions From Countv Records Topography Level
Site area .07 Acres Comer 101 ~ No DYes Size Averaae
Specnic zoning classnication and description UR Urban Residential Shape Rectanaular
Zoning compliance cg] Legal D Legal nonconforming (Grandfathered use) D Illegal o No zoning Drainage Adeauate
Highest and best use as improved: cg] Present use o Other use (explain) View Averaae
Landscaping Averaae
UtIlities Public Other Off-slte Improvaments Type Public Private Driveway None
Electricity [:8J Street Macadam cg] 0 Apparent easements There are no apparent ease-
Gas cg] Curb/gutter Concrete [:8J D ments.
Water cg] Sidewalk Concrete [:8J [J FEMA Special Flood Hazard Area DYes cg] No
Sanitary sewer [g] Streetlights Yes [:8J R FEMA Zone C Map Date 12/411979
Storm sewer rX1 Allev Rear IX1 FEMA Mao No. 42036100018
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning, use, elc.): There are no apparent
easements encroachments, special assessments slide areas or illeaallleaal nonconformina zonina uses. The site is not In a HUD identified
flood hazard area and the lot is rectanaular.
Freddie Mac Form 72 10-94
PAGE 1 OF 4
GEORGE CLAUSER
Form SR3 - "WinTOTAL' appraisal software by a la mode, inc. -l-BOO-ALAMODE
Fannie Mae Form 1025 10-94
,
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
General description exterior description (Materials/condition) Foundation Insulation (R.value n known)
Unlts/bldgs. 2 /1 Foundation Stone Slab NA ~ Roof Unknown
Stories 3 Exterior walls Brick/Aluminum Crawl space NA D Ceiling Unknown
Type (detJall.) Attached Roof surface Rubber Sump Pump NA D Walls Unknown
Design (style) Traditional Gutters & dwnspts. Aluminum Dampness No evidence D Floor Unknown
Exlsting/proposed Existing Window type DbleHna Settlement No evidence D None Unknown
Under construction NA Slorm sash/Screens Yes Infestation No evidence Adequacy Unknown
Year Built 1895 Manufactured housing* DYes ~No Basement ---1lliL % of 1 sl floor area Energy efficienl ilems: ~
Effective age(yrs.) 15 * (Complies witf1 the HUD Manufactured Housing Basement finish Unfinished noted
Construction and Safeh Standards.)
IInit~ I evel(~\ Fover Ilvinn nininn Kitchen nen F.mllv !Tn Redrnnm~ # Ralh~ I al/ndrv Other So fiJI/nit Tolal rb
1 1 1 1 1 1 1 710 710
1 2-3 1 1 3 1 1,194 1194
. r.nnt.ln' 9 Rnnm~' 4 R.rtrnnm{o\' 2 Ralh(~\' 1904 .n~.
GROSS BUILDING AREA (GBA) IS DEFINED AS THE TOTAL FINISHED AREA (INCLUDING COMMON AREAS) OF THE IMPROVEMENTS BASED UPON EXTERIOR
Surfaces (Materials/condition) Heating Kitchen equip. (# / unlt-cond.) Attic Car Storage No. Cars ~
Roors WdNin/Cpt Avg Type FWA Refrigerator 1/Averaae ~ None Garage ~
Walls Plaster/Paint Ava Fuel Oil Range/oven 1/Averaae D Stairs Carport D
Trim/Finish Wood Avg Condition Ava Disposal NA D Drop stair Allached D
Bath floor VinlCpt Ava Dishwasher NA D Scuttle Detached D
Bath wainscot CT Avg Cooling None Fan/hood NA D Roor Adequate D
Doors Wood Central NA Compactor NA [] Heated Inadequate D
Other NA Washer/dryer NA [] Finished Offstreet D
Condition NA Microwave NA o Unfinished None D
RrRnlacR(~\ No # NA Intercom NA
Condition of the improvements, repairs needed, quality of construction, additional features, modernization, etc.: The subiect apartments have been modernized over
the vears and currentlv appear to be in averaae condition. No repairs are reauired.
Depreciation (physical, functional, and external inadequacies, etc.): No phvsical or external inadeauacies noted. Functional: 260 AMP fuse boxes. Cost to
cure $1500.
Adverse environmental conditions (such as, but not Iimiled to, hazardous wastes, toxic substances, etc.) present in the improvements, on the sile, or in the immediate viclnily of
the subject property: There are no adverse environmental conditions noted. If prooertv is to be sold radon and termite inspections are suggested.
The appraiser is not Qualified to detect such substances.
VALUATION ANALYSIS
ESTIMATED SITE VALUE =$ Comments on Cost Approach (such as, source of cost estimate, sile value, square foot
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: calculation and, for HUD and VA, the estimated remaining economic Ine of the property):
1,904 Sq. Ft. @ $ =$ ''The reoort reauests the ReDroductlon Cost approach which
Sq. Ft. @ $ =$ requires the construction of an exact reolica includina the same
Sq. Ft. @ $ =$ materials methods and workmanship and must include anv existing
Sq. Ft. @ $ =$ functional obsolescence. This would be misleading and makes this
Sq. Ft. @ $ =$ method misleadino. The ReDlacement Cost approach might be more
=$ appropriate but it reauires replacement usino modern materials
=$ methods and workmanship. plus the elimination of anv present
=$ functional depreciation. This too would be misleadina. and the Cost
=$ ~~roach Is therefore misleadina."
=$
Special Energy Efficient Items =$
Porches, Patios, etc. =$
Total Estimated Cost New =$
Physical Functional External
Less ~=$
Depreciation
Depreciated Value of Improvements _ =$
'As is" Value of Site Improvements =$
INDICATED VALUE BY COST APPROACH -$
Freddie Mac Form 72 10-94
PAGE 2 OF 4
Form SR3 - "WinTOTAL' appraisal sofuvare by a la mode, inc. -1-BOO-ALAMODE
Fannie Mae Form 1025 10-94
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORt
At least three rental comparables should be reported and analyzed In this section. The rental comparables should represent the most current rental information on properties as
similar and proximate to the subject property as possible. (This comparison is based on current rental data, therefore, the rental comparables typically are not the same comparables
used in the sales comparison analysis.) The appraisal report should assure the reader that the units and properties selected as comparables are comparable to the subject
property (both the units and the overall property) and accurately represent the rental market for the subject property (unless otherwise stated within the report).
SUBJECT COMPARABLE RENTAL NO.1 COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
145 Herman Ave. 615 Bosler Ave. 222-224 Herman Ave.
Lemo ne Lemo ne Lemo ne
0.25 miles NE 0.17 miles SW 0.18 miles NE
Data source
NA
1-27-06
MLS
NA
1-27-06
MLS
None
Rent concessions
None
None
None
Yr. Bit.: 1900
Ie 2 unit in
Description of
property-units,
design, appeal,
age, vacancies,
and conditions
No. Units 2 No. Vac.
Yr. BII.: 1895
Traditional s Ie 2
unit in avera e
condition.
No. Units 2 No. Vac. 0 Yr. BII.:1925
Traditional st Ie 2 unit in
avera e condition.
Individual
unit
breakdown
Rm. Count
Tot Br Ba
4 1 1
5 3 1
Size
S . Ft.
710
1 194
Rm. Count
Tot Br Ba
3 1 1
4 2 1
Rm. Count
Tot Br Ba
3 1 1
3 1 1
Total
Utilities,
fumiture, and
amenities
included in rent
Functional utility,
basement,
heating/cooling,
project amenities, etc.
Units are
unfurnished.
Ran e/Ref are
su lied. Landlord
a s water sewer &
trash.
Avera e condition.
Avera e Condition. 1 00%
Basement
Avera e Condition. 100%
Basement
Avera e Condition 100%
Basement
Subject's rant schedule The rent schedule reconciles the applicable indicated monthly market rents to the appropriate subject unit, and provides the estimated rents for the
subject property. The appraiser must review the rent characteristics of the comparable sales to determine whether estimated rents should reflect actual or market rents. For
example, n actual rents were available on the sales comparables and used to derive the gross rent multiplier (GRM), actual rents for the subject should be used. If market rents
were used to construct the comparables' rents and derive the GRM, market rents should be used. The total gross estimated rent must represent rent characteristics consistent
with the sales comparable data used to derive the GRM. The total gross estimated rent is not adjusted for vacancy.
LEASES ACTUAL RENTS
Lease Date Per Unit
Be in End Unfumished
Unk Unk 465
Unk Unk 500
Unit
Furnished
Total
Rents
465
500
Total
Rents
465
500
tk~J~~~~;~ja~~ t~~~H~~~l~~~
965
0.00
965
2 965
Other monthly income (itemize) NA
Vacancy: Actuallast year --.-Q % Previous year --.-Q % Estimated: ~ % $ 347 Annually
Utilities included in estimated rents: 0 Electric I2SI Water I2SI Sewer I2SI Gas I2SI Oil I2SI Trash collection
$
T olal gross estimated rent $
o
Comments on the rent schedule, actual rents, estimated rents (especially regarding differences between actual and estimated rents), utilities, etc.: The above cited rents are
ieal for this area. Most rents in this area include some t e of utilities. The overall actual rents and the estimated rents are considered ual.
It is not ieal to rent units furnished in this articular location. Actual rents are considered to be market rents. Monthl a artment rents total
$965. Total annual rent is $11 580.
Freddie Mac Form 72 10-94
PAGE 3 OF 4
Form SR3 - "WlnTOTAL" appraisal software by a la mode, inc. -1-BOO-ALAMODE
Fannie Mae Form 1025 10-94
SMALL RESIDENTIAL INCOME PROPERn APPRAISAL REPORT
l'The undersigned has recited three recent sales of properties most similar and proximate to the subject property and has described and analyzed these In this analysis. If there
Is a significant variation between the subject and comparable properties. the analysis includes a dollar adjustment reflecting the market reaction to those Items or an explanation
supported by the market data. If a significant Item In the comparable property Is superior to. or more favorable than, the subject property, a minus H adjustment Is made, thus
reducing the adjusted sales price of the comparable property; If a significant Rem In the comparable property Is Inferior to, or less favorable than, the subject property, a plus (+)
adjustment Is made, thus Increasing the adjusted sales price of the comparable property. [(1) SlIee Price / Grose Monthly Rent)
ITEM SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
427 Hummel Ave 622-624 Market St. 121 Herman Ave. 307 Tenth St.
Address Lemovne Lemovne Lemovne New Cumberland
Proximity to subiect 0.27 miles NW 0.26 miles NE 1.37 miles SE
Sales price $ NA [XI Unf. r Fum. $ 123250 [XI Unf. r Fum. $ 115000 fXI Unt. l FUrn. $ 116,900
Sales orice oer GBA $ $ 57.92 $ 61.89 $ 80.29
Gross monthlv rerrl $ 965.00 $ 1,505.00 $ 1 200.00 $ 920.00
Gross mo. rent mull. (1) 81.89 95.83 127.07
Sales price per unit $ $ 30813 $ 57 500 $ 58.450
Sales price per room $ $ 10271 $ 14 375 $ 19.483
Data and/or Inspection MLS/Courthouse MLS/Courthouse MLS/Courthouse
Verification Sources
ADJUSTMENTS DESCRIPTION DESCRIPTION : + (-) $ Adjustment DESCRIPTION : + (-) $ Adlustment DESCRIPTION : + (- I $ Adjustment
Sales or financing Conventional Conventional Conventional
concessions . None Known None Known None Known
Date of sale/time 9/30/04 DOM 6 +5 000 22/22/04 DOM 7 : +5 000 8/30/05 DOM 5 :
Location Suburban Suburban Suburban : Suburban :
Leasehold/Fee Simple Fee Simole Fee Simole Fee Simole : Fee SimDle
Site .07 Acres .06 Acres .12 Acres : .08 Acres :
View Averaae Averaae Average Averaoe :
Desian and appeal 2 UnitlAveraae Duolex 4 Unit 2 UnitlAveraoe 2 UnitlAveraae
auallty of construction Averaoe Averaae Averaae Averaae
Age 111 86 : 93 : 84 :
Condition Averaae Averaae Average : Averaae :
Gross Building Area 1 904 Sq. fl. 2,128 S . fl. : -3,360 1858 S .f1.: +690 1 456 Sa. fl. : +6 720
No. Rm. count No. No. Rm. count No: No. Rm. count No. : No. Rm. count No.:
of Vac. of Vat.: of Vac. : of Ba Vac.:
un"s Tot Br Ba units Tot Br Ba units Tot Br Ba units Tot Br
Unit 1 4 1 1 0 1 3 1 1 0: 1 4 2 1 oj 1 3 1 1 1 :
breakdown 1 5 3 1 0 1 3 1 1 1 ; 1 4 2 1 0: 1 3 1 1 1 :
1 3 1 1 o : -2,000 : :
1 3 1 1 o : -2,000 : :
Basement description Full Unfinished Full Unfinished Full Unfinished : Full Unfinished :
Functional utility Averaae Averaae Averaae : Averalle :
Heatin!llcooling OFW A1No CA Gas Soace Htrs GFW A1NoCA : GFW A1NoCA :
Parkina OIVolI site 1 Car Detached NA +2 000 2 Car Detached : -2 000 NA : +2 000
Project amenities and NA NA NA NA
fee (If aoolicable) NA NA NA
: : :
Net Adj. (total) rl+ [XI-$ 360 [XI+ rl-:$ 3690 "rx1 + l-:$ 8720
Adjusted sales price 1$
of comoarable $ 122 890 $ 118 690 125620
Comments on sales comparison (Including reconciliation of all Indicators of value as to consistency and relative strength and evaluation of the typical investor's/purchaser's
motivation In that market): All sales were within the and In the same school district. Sales ranaed from a low of $118690 to a hioh of $125620..
The orice oer unit ranaed from a low of $30813 to a hiah of $58450. The value indicated bv the sales comDarison aDoroach on the above arid is
at or near the UDDer end of the value ranae and at $120 000.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data None in the last None in the last year. None in the last year. None in the last year.
Source for prior sales year. NA NA NA
within year of aooraisal CCTAO CCTAO CCTAO CCT AO
Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
The Drooertv is not currentlv under an aareement to ourchase and has not transferred within the last Year. -,~
Total gross monthly estimated rent $ 965 X gross rerrl multiplier (GRM) 124.00_ = $ 119,660 INDICATED VALUE BY INCOME APPROACH
Comments on Income approach (including expense ratios, If available, and reconciliation of the GRM) The tvoical is investor is motivated bv the Income aenerated
bv the rental units. GRM=Value/Gross Monthlv Rent
INDICATED VALUE BY SALES COMPARISON APPROACH S 120 000
INDICATED VALUE BY INCOME APPROACH ., , S 119660
INDICATED VALUE BY COST APPROACH . . . - - . . - - -. - - - . . - . . . . . - S NA
This appraisal is made ~ "as Is" D subject to the repairs, alterations, inspections, or conditions listed below D subject to completion per plans and specifications.
Comments and conditions of appraisal: The value indicated is based on the sublect orooertv in it's "as is" condition and assumes a marketable title and
comoliance with city codes. All three aooroaches to value were considered in this value estimate.
Final reconciliation: The sales comoarison aooroach and the income aooroach are considered most reliable and are aiven the areatest weiaht. Inmv
ooinion the estimated value as of the date of the aooraisal is $120 000.
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, contingerrl
and limiting conditions, and market value definition that are stated In the attached Freddie Mac Form 439/Fannie Mae Form 1004B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE S 120,000
APPRAISER: :::::J s-i:: SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Slanature 1. Sionature o Did o Did Not
Name Dennis L. Stover Name Inspect Property
Date Reoort Sioned 1-30-06 Date Reoort Sioned
State Certification # PA State Certified Residential Real Esta State PA State Certification # State
Or State License # Certification Number: RL 138906 State PA Or State License # State
Freddie Mac Form 72 10-94
PAGE 4 OF 4
Form SR3 - "WlnTOTAL" appraisal software by a la mode, inc. -1-BOO-ALAMODE
Fannie Mae Form 1025 10-94
APPRAISAL OF REAL PROPERTY
LOCATED AT:
430 Hummel Ave
Deed Book 0018K Page 00421
Lemoyne, PA 17043-1954
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
P. O. Box 777
Camp Hill, PA 17001-0777
Form GA1 - ''WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
@~
File No. 5-1201 R-6
State P A
Zi Code 17043-1954
APPRAISAL AND REPORT IDENTIFICATION
This appraisal conforms to we of the following definitions:
~ Complete Appraisal (The act or process of estimating value, or an opinion of value, perfonned without Invoking the Departure Rule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, perfonned under and resulting from Invoking the
Departure Rule.)
This report is one of the following types:
o Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal perfonned under STANDARD 1.)
~ Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal perfonned under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal perfonned under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best 01 my knowledge and belief:
o The statements oflact contained In this report are true and correct.
o The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional
analyses, opinions and conclusions.
D I have no (or the specnied) present or prospective interest in the property that is the subject of this report, and no (or the specnled) personal interest with respect to the parties
involved.
o I have no bias with respect to the property that is the subject 01 this report or the parties involved with this assignment.
D My engagement in this assignment was not contingent upon developing or reporting predetermined results.
D My compensation lor completing this assignment is not contingent upon the development or reporting of a predetermined value or direction In value that lavors the cause of the
client, the amount 01 the value opinion, the attainment 01 a stipulated resutt, or the occurrence ot a subsequent event directly related to the intended use 01 this appraisal.
o My analyses, opinions and conclusions were developed and this report has been prepared, In conlormity with the Unnorm Standards ot professional Appraisal Practice.
D I have made a personal inspection of the property that is the subject 01 this report.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: U- 1. ~
Name: Dennis L. Stover
Date Signed: 1-30-06
State Certification #: PA State Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date 01 Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
o Did 0 Did Not Inspect Property
GEORGE CLAUSER
Form 102 - 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Prooertv Address 430 Hummel Ave CiiV Lemovne State P A ZiD code 17043-1954
Leoal Descriotion Deed Book 0018K Paae 00421 Counlv Cumberland
Assessor's Parcel No. 12-22-0822-068 Tax Year 05-06 R.E. Taxes $ 1 636 Special Assessments S NA
Neiohborhood or Proiect Name Lemovne Borouah MaD Reference 25420 Census Tract 42041-0106.00-3
Borrower NA Current Owner The Estate of Bettv G. Binklev OccuDant r l Owner [XJ Tenant r l Vacant
Prooertv riohls aDoralsed rx1 Fee Simnle r l Leasehold I Proiect T VDe PUD Il Condominium HOA $ NA /Mo.
Sales Price S NA Date of Sale NA Des.criDtion and ~ amount of loan charnes/concesslons to be Dald bv seller NA
Lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St. Lemovne PA 17043-
ADoraiser Dennis L. Stover Address Clauser Real Estate Aooraisals P. O. Box 777 Camo Hill PA 17001
Location DUrban ~ Suburban o Rural 15rn;re"l!,na~t ~lle Iamlly hOU~I~~ I ~=nant ,,~:.41am11y hous,nR
nge am y G - am y G
Built up DOver 75% ~ 25-75% o Under 25% Occupancy fW~ ) ~rs Occupancy fW~~ (yr~
Growth rate o Rapid ~ Stable o Slow ~ Owner ~ Low ~ 0 Owner ~ Low --.L
Property values o Increasing ~ Stable o Declining o Tenant 850 Hlnh 200 ~ Tenant 250 HlgL~OO
Demand/supply 0 Shortage ~ In balance o Over supply ~ Vacant (0-5%) .. Predominant 11IIIII ~ Vacant (0-5%) Il!!lII Predominant 'II
Marketino time n Under 3 mos. i'Xi 3-6 mos. Fi Over 6 mos. I Fi Vacant lover 5%\ 145 25 I n Vacant/over 5% 125 75
Typlcal2-4lamlly bldg. Type Traditional No. stories 2 No. units 2-3 Age ~ yrs. Present land use % Land un change
Typical rents $ ~ to $ 700 o Increasing ~ Stable o Declining One family ~ o Not likely o Likely
Est. neighborhood apt. vacancy ~ % o Increasing ~ Stable o Declining 2-4 family ~ ~ In process to:
Rent controls DYes ~ No D Likely If yes or likely, describe Multi-family 5 Vacant land to
Commercial 5 residential.
( )
Note: Race and the racial compoaltlon 01 the neighborhood are not appralsallactors.
Neighborhood boundaries and characteristics: Subiect is in a suburban location in Lemovne Borouoh Cumberland County. Schools shoooina. are
within 5-10 minutes. Emolovment centers are Harrisburo Camo Hill York. Mechanicsbura. and surroundina communities. Public School
students attend the West Shore School District.
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The subiect neiahborhood is comorised of a comaatible mixture of sinole familv. multi-familv. and conversion aoartments. All are of reasonablv
similar auality and aooeal with tvaical condition beino averaoe for 2-4 unit/multi-familv orooerties. Demand for rentals aooears to be averaae
and no rent controls are anticioated.
The following available listings represent the most current, similar, and proximate competitive properties to the sublect property in the subject neighborhood. This analysis Is in.
tended to evaluate the Inventory currentiy on the market competing with the subject property in the subject neighborhood and recent price and marketing time trends affecting the sub-
lect property. (Ustings outside the sublect neighborhood are not considered applicable). The listing comparables can be the rental or sale comparables If they are currentiy for sale.
ITEM SUBJECT COMPARABLE LISTING NO.1 COMPARABLE LISTING NO.2 COMPARABLE LISTING NO.3
430 Hummel Ave 145 Herman Ave. 615 Bosler Ave. 222-224 Herman Ave.
Address Lemovne Lemovne Lemovne Lemoyne
Proxlmltv to sublect 0.25 miles NE 0.17 miles SW 0.19 miles NE
Listino price Is NA ~ Unf. il Furn. $ 135.000 [XJ Unf. il Fum. $ 129 900 I [XJ Unl. r l Fum. $ 149900
Aooroximate GBA 1931 1880 1204 2000
Data source Insoection MLS MLS MLS
# Units/T ot. rms./BR/BA 2 : 9: 3 2 2 7 3 2 2 6 , 2 2 2 10 6 2
ADDroximate vear built 1900 1920 1930 1900
Aoorox. davs on market NA 89 107 4
Comparison of listings to subject property: Listinas are all in the same oeneral market area featurina similar desian and amenities. They aooear to
be reasonablv similar to the subiect.
Market conditions that affect 2-4 family properties in the subject neighborhood (Including the above neighborhood Indicators of growth rate, property values,
demand/supply, and marketing time) and the prevalence and impact In the subject market area regarding loan discounts, interest buydowns and concessions, and
identification of trends in listing prices, average days on market and any change over past year, etc.: Market conditions for 2-4 family properties are considered
mlldlv active due to an uncertain economy. There are nronArtles for sale in the same neinhborhood and in comoetitlon with the subiect. As a
result, the properties must be comoetivlev oriced in an effort to secure a buyer. Marketino time can exceed six months deoendino uoon the
condition of the property and oualitv of the tenants.
Dimensions From County Records Topography Level
Site area .08 Acres Comer lot ~ No DYes Size Averaae
SpecKic zoning classKlcation and description UR Urban Residential Shape Rectanaular
Zoning compliance ~ Legal o Legal nonconforming (Grandfathered use) o Illegal o No zoning Drainage AdeQuate
Highest and best use as improved: ~ Present use o Other use (explain) View Averaoe
Landscaping Averaae
Utilities Public Other OII-slte Improvements Type Public Private Driveway None
Electrlcity t8J Street Macadam ~ D Apparent easements There are no aooarent ease-
Gas t8J Curb/gutter Concrete [gJ D ments.
Water ~ Sidewalk Concrete ~ D FEMA Special Rood Hazard Area DYes ~No
Sanitary sewer ~ Street lights Yes ~ R FEMA ZDne C Map Date 12/4/1979
Storm sewer i'Xi AIIev Rear FEMA MaD No. 4203610001B
Comments (apparent adverse easements, encroachments, special assessments. slide areas, illegal or legal nonconforming zoning, use, etc.): There are no apparent
easements encroachments snecial assessments slide areas or iIIenal/leoal nonconformlno zonlno uses. The site is not in a HUD identified
flood hazard area and the lot is rectanoular.
Freddie Mac Form 72 10-94
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
, Summary Report
FileNo. 5-1201 R-6
PAGE 1 OF 4
GEORGE CLAUSER
Form SR3 - 'WinTOTAL" appraisal software by a la mode, Inc. - 1-800-ALAMODE
Fannie Mae Form 1025 1 0-94
"neral description Exterior description (Materials/condition) Foundation Insulation (R-value If known)
Units/bldgs. 2 /1 Foundation Stone Slab NA ~ Roof Unknown
Stories 3 Exterior walls Brick Crawl space NA o Ceiling Unknown
Type (det./all.) Attached Roof surface Rubber Sump Pump NA o Walls Unknown
Design (style) Traditional Gutters & dwnspts. Aluminum Dampness No evidence o Floor Unknown
Existinwproposed Existina Window type DbleHna Settlement No evidence o None Unknown
Under construction NA Storm sash/Screens Yes Infestation No evidence Adequacy Unknown
Year Built 1900 Manufactured houslng* DYes ~ No Basement ~ % of 1 st floor area Energy efficient nems: ~
Effective age(yrs.) 15 *(Complies with the HUD Manufactured Housing Basement finish Unfinished noted
Construction and Safet'l Standards.l
Ilnil~ I p.vp.I(~1 Fnvp.r Ilvlnn nlninn Kitchp.n Op.n F.mllv rm Bp.rlrnnm~ Jl R.th. l.untlN Ilth~r C:n It/unit T nbl rjJ
1 1 1 1 1 1 1 Office 0 1 750 750
1 2-3 1 1 3 1 1 181 1 181
9 Rnnm~' 3 R~tlrnnml.\' 2 R.thl.\' 1 931
GROSS BUILDING AREA (GBA) IS DEFINED AS THE TOTAL FINISHED AREA (INCLUDING COMMON AREAS) OF THE IMPROVEMENTS BASED UPON EXTERIOR
Surfaces (Materials/condition) Heating Kitchen equip. (# I unlt-cond.) Attic Car Storage No. Cars ~
Floors WdNin/Cot Ava Type HW Refrigerator 2/Averaae ~ None Garage ~
Walls Plaster/Paint Ava Fuel Oil Range/oven 2/Averaae o Stairs Carport 0
TrimtRnlsh Wood Ava Condition Ava Disposal NA o Drop stair Attached 0
Bath floor Vinvl Dishwasher NA o Scuttle Detached ~
Bath wainscot NAlFG Ava Cooling None Fan/hood NA o Roor Adequate 0
Doors Wood Central NA Compactor NA o Heated Inadequate 0
Other NA Washer/dryer NA o Finished Offstreet 0
Condition NA Microwave NA o Unfinished None D
No it NA Ilntp.ream NA
Condition of the improvements, repairs needed, quality of construction, additional features, modernization, etc.: The subiect aoartments have been modernized over
the years and currently appear to be in average condition. The first floor unit is currently used a orooertv manaaement office bv the owner.
Depreciation (physical, functional, and external Inadequacies, etc.): No Functional. physical or external inadeauacies noted.
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: There are no adverse environmental conditions noted. If orooertv is to be sold radon and termite insoections are suaaested.
The aooraiser is not aualified to detect such substances.
VALUATION ANALYSIS
ESTIMATED SITE VALUE =$ Comments on Cost Approach (such as, source of cost estimate, site value, square foot
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: calculation and, for HUD and VA, the estimated remaining economic life of the property):
1.931 Sq. Ft. @ $ =$ "The report requests the ReDroductlon Cost aaaroach which
Sq. Ft. @ $ =$ requires the construction of an exact reallca Includlna the same
Sq. Ft. @ $ =$ materials methods and workmanshio and must include anv existina
Sq. Ft. @ $ =$ functional obsolescence. This would be misleadina and makes this
Sq. Ft. @ $ =$ method misleadina. The ReDlacement Cost aooroach miqht be more
=$ appropriate but it reauires reolacement usinc modern materials.
=$ methods and workmanshio. olus the elimination of anv cresent
=$ functional deoreciation. This too would be misleadina. and the Cost
=$ Approach Is therefore misleadina."
=$
Special Energy Efficient Items =$
Porches, Patios, etc. =$
Total Estimated Cost New =$
Physical Functional External
Less ~=$
Depreciation
Depreciated Value of Improvements "H = $
"As is' Value of Site Improvements =$
INDICATED VALUE BY COST APPROACH ~$
.
Freddie Mac Form 72 10-94
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT.
PAGE 2 OF4
Form SR3 - 'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
At least three rental comparables should be reported and analyzed in this section. The rental com parables should represent the most current rental Information on properties as
similar and proximate to the subject property as possible. (This comparison Is based on current rental data, therefore, the rental comparables typically are not the same com parables
used in the sales comparison analysis.) The appraisal report should assure the reader that the units and properties selected as comparables are comparable to the subject
property (both the unns and the overall property) and accurately represent the rental market for the subject property (unless otherwise stated wnhin the report).
ITEM SUBJECT COMPARABLE RENTAL NO.1 COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
....., 430 H"mm".'45 H.m,," Me. 615 Bosler Ave. 222-224 Herman Ave.
Lemovne Lemovne Lemovne Lemovne
Proximity to subject 0.25 miles NE 0.17 miles SW 0.19 miles NE
Lease dates (if available) NA NA NA NA
Rent survey date 11-7-05 1-27-06 1-27-06 1-27-06
Data source Estate Rep MLS MLS MLS
Rent concessions None None None None
No. Unlts2 No. Vac. No. Unlts2 No. Vac.O Yr. BII.: 1920 No. Unils 2 No. Vac. 0 Yr. BiI.:1925 No. Unils2 No. Vac. 2 Yr. BiI.: 1900
Description of Yr. BiI.: 1900 Traditional sMe 2 unit in Traditional sMe 2 unit in Traditional duolex sMe 2 unit in
property-unns, Traditional stvle 2 averaae candition. averaae condition. averane condition.
design, appeal, unit in averaoe
age, vacancies, condition.
and conditions
Rm. Count Size Rm. Count Size Total Rm. Count Size Total Rm. Count Size Total
Individual Tot Sr Sa So. Ft. Tot Sr Sa Sa. Ft. Monthlv Rent Tot Sr Sa Sa. Ft. Monthlv Rent Tot Sr Sa SQ. Ft. Monthly Rent
unit 4 0 1 750 3 1 1 990 450 3 1 1 602 460 5 3 1 1,000 750
breakdown 5 3 1 1 181 4 2 1 990 650 3 1 1 602 435 5 3 1 1000 700
Units are Units are unfurnished. Units are unfurnished. Units are unfurnished.
Utilities, unfurnished. Ranne/Ref are suoolied. Ranoe/Ref are suoolied. Ranae/Ref are suoolied in both
furniture, and Ranne/Ref are Landlord oavs water sewer & Landlord oavs water. sewer & units. Landlord DayS water
amenities sunnlied. Landlord trash. trash. sewer & trash.
included in rent oavs water sewer & 1 Car detached narane
trash.
Averane condition. Averaae Condition. 1 00% Averaae Condition. 100% Averaae Condition 100%
Functional utility, Basement Basement Basement
basement,
heating/cooling,
project amenities, etc.
Analysis of rental data and support for esftmated market rents for the Individual subject unils ~ncludlng the adjustments used, the adequacy of comparables, rental concessions, etc.)
The comoarable rentals cited above are all within the subiect's oeneral market area. It should be noted that neiahborhood amenities are verY
similar. Based on the rental survev conducted rentals ranaed from $435 to $750 oer month deoendina on the size and condition of the units.
The first floor of the subiect is owner occunied and the second floor for $540. After adiustina comoarable rentals for differences the market
rental indicated for the subiect units is their current rental. The subiect units are within walkina distance to schools and shonnina.
SubJect'. rent schedule The rent schedule reconciles the applicable indicated monthly market rents to the appropriate subject unit, and provides the estimated rents for the
subject property. The appraiser must review the rent characteristics of the comparable sales to determine whether estimated rents should reflect actual or market rents. For
example, iI actual rents were available on the sales comparables and used to derive the gross rent multiplier (GRM), actual rents for the SUbject should be used. If market rents
were used to construct the camparables' rents and derive the GRM, market rents should be used. The total gross estimated rent must represent rent characteristics consistent
with the sales comparable data used to derive the GRM. The total gross estimated rent is not adjusted for vacancy.
LEASES ACTUAL RENTS ESTIMATED RENTS
Unit Lease Date J2~s Per Unit Total Per Unn Total
Benin End acant Unfurnished Furnished Rents Unfurnished Furnished Rents
1 Unk Unk 0 t 01$ $ olt 575 $ 1$ 575
1 Unk Unk 0 540 540 540 540
2 $ 540 1$ 1.115
Other monthly income (i1emize) NA $ 0.00
Vacancy: Actual last year ~ % Previous year ~ % Estimated: ~% $ 401 Annually Total gr088 estimated nent $ 1 115
Utilities included in estimated rents: D Electric [g] Water [g] Sewer [g] Gas [g] 011 [g] Trash collection 0
Comments on the rent schedule, actual rents. estimated rents (espeCially regarding differences between actual and estimated rents), utilities, etc.: The above cited rents are
!voical for this area. Most rents in this area include some !voe af utilities. Onlv the estimated rents are considered in this aooraisal as the first
floor is owner occunied. It is not tvnical to rent units furnished in this oarticular location. Actual rents are considered to be'market rents.
Monthlv aoartment rents actual and estimated total $1115. Total annual rent is $13 380..
Freddie Mac Form 72 10-94
SMAll RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT.
PAGE 3 OF 4
Form SR3 - 'WinTOTAL' appraisal software by a la mode, inc. -1-BOO-ALAMODE
Fannie Mae Form 1025 10-94
'file undersigned has recRed three recent sales of properties most similar and proximate to the subject property and has described and analyzed these In this analysis. If there
is a significant variation between the subject and comparable properties, the analysis includes a dollar adjustment reflecting the market reaction to those Rems or an explanation
supported by the mar1lel data. If a significant Rem in the comparable property Is superior to, or more favorable than, the sublect property, a minus (-) adjustment Is made, thus
reducing the adjusted sales price of the comparable property; If a significant Item in the comparable property Is inferior to, or less favorable than, the subject property, a plus (+)
adjustment Is made, thus Increasing the adjusted sales price of the comparable property. [(1) SIIe8 Price I GTOIS Monthly Rent)
ITEM I SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
430 Hummel Ave 622-624 Market St. 652 Market St. 166 Twelfth St.
Address Lemovne Lemovne Lemovne New Cumberland
Proximity to subject 0.27 miles NW 0.3 miles NW 1.27 miles SE
Sales price $ NA rxI Un!. r l Furn. $ 123250 rxI Un!. I Fum. $ 147,000 RI Unf. Il Fum. $ 137900
Sales price per GBA $ $ 57.92 $ 60.84 $ 59.90
Gross monthly rent $ 1115.00 $ 1 505.00 $ 1 400.00 $ 920.00
Gross mo. rent mull. (1) 81.89 105.00 149.89
Sales price per unit $ $ 30813 $ 49 000 $ 68,950
Sales price per room $ $ 10 271 $ 14700 $ 17 238
Data and/or Inspection MLS/Courthouse MLS/Courthouse MLS/Courthouse
Verification Sources
ADJUSTMENTS DESCRIPTION DESCRIPTION : + (- 1 $ Adlustment DESCRIPTION : + (-) S Adjustment DESCRIPTION : + H $ Adlustment
Sales or financing . Conventional Conventional FHA
concessions < None Known None Known None Known
Date of sale/tlme 9/30/04 DOM 6 +5 000 3/15/04 DOM 4 : +5 000 10/31/04DOM168 :
Location Suburban Suburban Suburban : Suburban :
Leasehold/Fee Simple Fee Simole Fee Simole Fee Simale : Fee Simale :
Site .08 Acres .06 Acres .1 Acres : .1 Acres :
View Averaae Averaae ; Averaae : Average
Desion and appeal Traditional Duolex 4 Unit ; 3 UnitlAveraae 2 UnitlAveraae
Quality of construction Averaae Averaae Averaae Averaae
Age 111 86 86 86
Condition Averaae Averaae Averane : Averaae :
Gross Buildino Area 1 931 Sa. ft. 2.128 S . ft. : -2 955 2416 So. It. : -7 275 2 302 SQ. It. : -5 565
No. Rm. count No. No. Rm. count No.; No. Rm. count No. : No. Rm. count No.:
of Vac. of Vac.: of Vac. : of Ba Vac.:
unRs Tot Br Ba unRs Tot Br Ba units Tot Br Ba unRs Tot Br
Unit 1 4 0 1 0 1 3 1 1 0: 1 3 1 1 0: 1 3 1 1 0 :
breakdown 1 5 3 1 0 1 3 1 1 1 : 1 3 1 1 0 : 1 5 1 1 0 :
1 3 1 1 0: -2,000 1 4 2 1 0 : -2,000 :
1 3 1 1 0: -2 000 :
Basement description Full Unfinished Full Unfinished Full Unfinished : Full Unfinished :
Functional utility Averaae Averaae Averaae : Averaae :
Heatinlllcoolino OFWNNo CA Gas Soace HtTS GFWNCA : -3 000 EBB/GHW NoCA :
Parkino on/off site 1 Car Detached NA : +2 000 NA : +2 000 NA : +2.000
Project amenities and NA NA NA NA
fee (If applicable) NA NA NA NA
:
Net Adi. (total) rxI+ rl-:$ 45 Tl+ HR]_ : $ 5275 rl+ rxI-:$ 3565
Adjusted sales price 1$ 1$
01 comparable 123295 $ 141 725 134 335
Comments on sales comparison (including reconciliation of all indicators of value as to consistency and relative strength and evaluation of the typical investor's/purchaser's
motivation in that market): All sales were within the and in the same school district. Sales ranaed from a law of $123,295 to a hiah of $141 725. The
I orice oer unit ranaed from a low of $30 813 to a hiah of $68.950. The value indicated bv the sales comoarison aooroach on the above arid is less
than the uDDer end of the value ranae and at $132 000.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data None in the last None in the last year. None in the last year. None in the last year.
Source for prior sales year. NA NA NA
within year of appraisal CCTAO CCT AO CCTAO CCTAO
Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
The orooerty is not currentlv under an aareement to aurchase and has not transferred within the last Year.
Total gross monthly estimated rent $ 1 ,115 X gross rent multiplier (GRM) 118.~ = $ 131,570 INDICATED VALUE BY INCOME APPROACH
Comments on income approach (including expense ratios, n available, and reconciliation of the GRM) The typical Is investor is motivated bv the income generated
bv the rental units. GRM=ValuelGross Monthlv Rent
INDICATED VALUE BY SALES COMPARISON APPROACH ..HHHHHHHHHHHuuH.HHuHuuu S 132 000
INDICATED VALUE BY INCOME APPROACH ........ ...-. . --......... - . . . . . . . . . . . . . . .......... ......... ..... ..... ....... ... S 131 570
INDICATED VALUE BY COST APPROACH . . ...... . S NA
This appraisal is made [8J "as is" o subject to the repairs, alterations, inspections, or conditions listed below U subject to completion per plans and specnications.
Comments and conditions of appraisal: The value indicated is based an the subiect nronertv in it's "as is" condition and assumes a marketable title and
comaliance with city codes. All three 8aaroaches to value were considered in this value estimate.
Final reconciliation: The sales comaarlson aaaroach and the Income aoaroach are considered most reliable and are aiven the areatest weiaht. Inmv
oainion the estimated value as of the date of the aooraisal is $132 000.
The purpose of this appraisal Is to estimate the market value of the real property that is the subject of 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 Form 439/Fannie Mae Form 10048 (Revised 6-93 ).
I (WE) ESTlMATETHE MARKET VALUE, AS DERNED, OFTHE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORD TO BE S 132,000
APPRAISER: U. 1. S~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Sianature Slanature o Did o Did Not
Name Dennis L. Stover Name Inspect Property
Date Reoort Sioned 1-30-06 Date Reoort Sioned
State Certification # PA State Certified Residential Real Esta State PA State Certnication # State
Or State License # Certification Number: RL 138906 State PA Or State License # State
Freddie Mac Form 72 10-94
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
PAGE 4 OF 4
Form SR3 - 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
"
(Q)~~
APPRAISAL OF REAL PROPERTY
LOCATED AT:
433 Hummel Ave.
Deed Book 0029P Page 00538
Lemoyne, PA 17043-1955
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
P. O. Box 777
Camp Hill, PA 17001-0777
Form GAl - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
File No. 5-1201 R-7
State PA
Zi Code 17043-1955
APPRAISAL AND REPORT IDENTIFICATION
This appraisal conforms to QM of the following definitions:
[8J Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without Invoking the Departure Rule.)
D Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulUng from Invoking the
Departure Rule.)
This report is one of the following types:
D Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
[8J Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STAND~RD 1.)
D Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Sta"dards Rule 2-3
I certify that, to the best of my knowledge and belief:
D The statements of fact contained in this report are true and correct.
D The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional
analyses, opinions and conclusions.
D I have no (or the specnied) present or prospective Interest in the property that Is the subject of this report, and no (or the specnied) personal interest with respect to the parties
involved.
D I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
D My engagement in this assignment was not contingent upon developing or reporting predetermined resuits.
D My compensation for completing this assignment Is not contingent upon the development or reporting of a predetermined value or direction In value that favors the cause of the
client. the amount of the value opinion, the attainment of a stipulated resuit, or the occurrence of a subsequent event directly related to the Intended use of this appraisal.
D My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Unnorm Standards of professional Appraisal Practice.
D I have made a personal inspection of the property that is the subject of this report.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: LL 1. ~
Name: Dennis L. Stover
Date Signed: 1-30-06
State Certification #: PA State Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certnlcation #:
or State License #:
StatB:
Expiration Date of Certification or License:
o Old D Did Not Inspect Property
GEORGE CLAUSER
Form 102 - "WlnTOTAL" appraisal software by a la mode, Inc. - 1-BOO-ALAMODE
5-1201 R-7
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT FileNo. 5-1201 R-7
PI'oDertv Address 433 Hummel Ave. CItv Lemovne State PA ZID code 17043-1955
Leoal DescriDtion Deed Book 0029P Pane 00538 County Cumberland
Assessor's Parcel No. 12-21-0265-235 Tax Year 05-06 R.E. Taxes $ 1 443 SDecial Assessments $ NA
Neiohborhood or Proiect Name Lemovne Borouah MaD Reference 25420 Census Tract 42041-01 06.00-3
Borrower NA Current Owner The Estate of Bettv G. Binklev OccuDant r 1 Owner rx1 Tenant il Vacant
ProDertv riohls ann raised rx1 Fee Simnle r 1 Leasehold I Prolect TVDe PUD i1 Condominium HOA $ NA /MO.
Sales Price $ NA Date of Sale NA DescriDllon and $ amount of loan charoes/concessions to be Daid bv seller NA
Lender/Client The Estate of Bettv G. Binklev Address Johnson Duffle Stewart. & Weidner P. C. 501 Market St.. Lemovne PA 17043-
Annraiser Dennis L. Stover' Address Clauser Real Estate Aooraisals P. O. Box 777 Camo Hill PA 17001
Location DUrban IZ1 Suburban o Rural I ~r="/l~a~ - S!'fuTelimlly hOUSI~~ I r-=:ugnt.~~4 famllj liou81nR
ngle sml lrn8 ~G - am lffi8~ Gij
Buill up DOver 75% [g] 25-75% o Under 25% Occupancy ( yrs Occupancy ( ) (yrs
Growth rate o Rapid [g] Stable o Slow C8.J Owner ~ Low ~ 0 Owner ~ Low ~
Property values o Increasing C8.J Stable o Declining o Tenant 850 Hinh 200 C8.J Tenant 250 Hioh 200
Demand/supply 0 Shortage C8.J In balance o Over supply C8.J Vacant (0-5%) ~I'lldominant _ C8.J Vacant (0-5%) III Predominant l1li\1
Markellna lime n Under 3 mos. [Xi 3-6 mos. n Over 6 mos. I Fi Vacant tover 5%\ 145 25 I Fi Vacantlover 5% 125 75
Typical 2-4 family bldg. Type Traditional No. stories 2 No. units 2-3 Age ~ yrs. Present land use % Land use change
Typical rents $ ~ to $ 700 o Increasing C8.J Stable o Declining One family 1L- D Not likely o Likely
Est. neighborhood apt. vacancy ~ % o Increasing [g] Stable o Declining 2 -4 family ~ [g] In process to:
Rent controls DYes [g] No D Likely II yes or likely, describe Mulll-family 5 Vacant land to
Commercial 5 residential.
I( )
Note: Race and the racial composition of the neighborhood are not apprallllfactors.
Neighborhood boundaries and characterisllcs: Subiect is in a suburban location In Lemovne Borounh Cumberland County. Schools shoooina, are
within 5-10 minutes. Emolovment centers are Harrisbura. Camo Hill York Mechanicsbura. and surroundina communities. Public School
students attend the West Shore School District.
Factors that affect the marketability of the properties In the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The subiect neiahborhood is comorised of a comoatible mixture of sinnle family. multi-family and conversion aoartments. All are of reasonably
similar aualitv and aooeal with tvoical condition beina averaae for 2-4 unit/multi-family orooerties. Demand for rentals aooears to be averaae
and no rent controls are anticioated.
The following available listings represent the most current, similar, and proxlmate competitive properties to the subject property In the subject neighborhood, this analysis Is In-
tended to evaluate the InventOl)' currentiy on the market competing wlth the subject property In the sublect neighborhood and recent price and marketing time trends affecting the sub-
lect property. (listings outside the subject neighborhood are not considered applicable), The listing comparables can be the rental or sale comparables If they are currentiy for sale.
ITEM SUBJECT COMPARABLE LISTING NO.1 COMPARABLE LISTING NO.2 COMPARABLE LISTING NO.3
433 Hummel Ave. 145 Herman Ave. 615 Bosler Ave. 222-224 Herman AYe.
Address Lemovne Lemovne Lemovne Lemovne
Proximltv to subiect 0.25 miles NE 0.17 miles SW 0.19 miles NE
Lisllna Drice Is NA rx1 Un!. il Fum. S 135 000 rx1 Unf. il Fum. $ 129.900 i~ Unf. i l Fum. ~ 149 900
roximate GBA 1700 1880 1204 2000
Data source Insoection MLS MLS MLS
# UnitslTol. rmsJBRlBA 3 :13: 5 3 2 7 3 2 2 6 2 : 2 2 10 6 2
ADDroximate vear buill 1900 1920 1930 1900
Annrox. days on market NA 89 107 4
Comparison of listings to sublect property: Listinas are all in the same aeneral market area featurina similar desian and amenities. Thev aooear to
be reasonably similar to the subject.
Market conditions that affect 2.4 family properties in the subject neighborhood (including the above neighborhood indicators of growth rate, property values,
demand/supply, and marketing lime) and the prevalence and impact in the sublect market area regarding loan discounts, Interest buydowns and concessions, and
identification of trends in listing prices, average days on market and any change over past year, etc.: Market conditions for 2-4 familv oronerties are considered
mildlv active due to an uncertain economy. There are orooerties for sale in the same neiahborhood and in comoetition with the subiect. As a
result the arooerties must be comoetivlev oriced In an effort to secure a buyer. Marketina time can exceed six months deoendinn uoon the
condition of the orooertv and aualitv of the tenants.
Dimensions From Countv Records Topography Level
Site area .15 Acres Comer lot C8.J No DYes Size Ayeraae
Specific zoning classification and description UR Urban Residential Shape Rectanaular
Zoning compliance C8.J Legal o Legal nonconforming (Grandfathered use) o Illegal o No zoning Drainage Adeauate
Highest and best use as improved: C8.J Present use D Other use (explain) View Averaae
Landscaping Averaae
UtIlities Public Other OII-alte Improvements Type Public Private Driveway None
Electricity ~ Street Macadam C8.J 0 Apparent easements There are no aooarent ease-
Gas C8.J Curb/gutter Concrete C8.J D ments.
Water C8.J Sidewalk Concrete C8.J 0 FEMA Special Rood Hazard Area DYes C8.J No
Sanitary sewer C8.J Street lights Yes ~ R FEMA Zone C. Map Date 12/4/1979
Stann sewer 1><1 Allev Rear FEMA Man No. 42036100018
Comments (apparent adverse easements, encroachments, special assessments, slide areas, Illegal or legal nonconfonning zoning, use, etc.): There are no aooarent
easements encroachments soecial assessments slide areas or illeaal/leaal nonconformina zonina uses. The site is not in a HUD identified
flood hazard area and the lot is rectanaular.
Freddie Mac Fonn 72 10-94
PAGE 1 OF 4
GEORGE CLAUSER
Fonn SR3 - 'WlnTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
SMAll RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
General description Exterior description (Materials/condition) Foundation Insulation (R-value n known)
Units/bldgs, 3 /2 Foundation Stone Slab NA fZ1 Roof Unknown
Stories 2 Exterior walls Brick/Frame/Block Crawl space NA D Ceiling Unknown
Type (delJatt,) Attached Roof surface Slate Sump Pump NA D Walls Unknown
Design (style) Traditional Gutters & dwnspts, Aluminum Dampness No evidence D Floor Unknown
Existing/proposed Existinll Window type DbleHna Settlement No evidence o None Unknown
Under construction NA Storm sash/Screens Yes Infestation No evidence Adequacy Unknown
Year Built 1900 Manufactured housing* DYes fZ1 No Basement ~ % of 1 st floor area Energy efficient Rems: ~
Effective age(yrs,) 15 *(Complles with the HUD Manufactured Housing Basement finish Unfinished noted
Construction and Safel'. Standards, \
IInit. I ~u~II.\ ~nu~r Ilvinn nininn Kit~h~n n~n ~.mllu nn R~rirnnm. it Roth. 1.llnriN nth~r ~n Itlllnit Tnt.1 r:tJ
1 1 1 1 1 1 1 600 600
1 2 1 1 2 1 600 600
1 2 1 1 2 1 500 500
_. ~-,-, 13 Rnnm~' 5 R~nrnnml.\' 3 R.thl.I' 1700 I MIMI:: AD~A
GROSS BUILDING AREA (GBA) IS DEFINED AS THE TOTAL FINISHED AREA (INCLUDING COMMON AREAS) OF THE IMPROVEMENTS BASED UPON EXTERIOR
Surfaces (Materials/condition) Heating Kitchen equip. (# I unit-cond.) Attic Car Storage No, Cars ~
Floors Vin/Cpt AVll Type FWA Refrigerator 3/Averaae fZ1 None Garage fZ1
Walls Plaster/Paint Ava Fuel Oil/Gas Range/oven 3/Averaae fZ1 Stairs Carport 0
Trim/Finish Wood Ava Condition Ava Disposal NA [l Drop stair Attached 0
Bath floor Vin Ava Dishwasher NA o Scuttle Detached fZ1
Bath wainscot Fiberalass Ava Cooling None Fanthood NA fZ1 Roor Adequate LJ
Doors Wood Central NA Compactor NA D Heated Inadequate 0
Other NA Washer/dryer NA D Finished Offstreet D
Condition NA Microwave NA fZ1 Unfinished None D
I ~ir,,"I.~~I.\ No /I NA Ilnlp-renm NA
Condition of the improvements, repairs needed, quality of construction, additional features, modernization, etc.: The subiect apartments have been modernized over
the vears and currentlv appear to be in averaae condition. Unit one 1st floor is in the orocess of havina the bath and kitchen renovated.
Depreciation (physical, functional, and external inadequacies. etc.): No Functional ohvsical or external inadequacies noted. Bath and kitchen in unit 1 first
floor are beina renovated.
Adverse environmental conditlons (such as, but not limited to, hazardous wastes, toxlc substances, etc.) present In the improvements, on the site, or in the Immediate vicinity of
the subject property: There are no adverse environmental conditions noted. If orooertv is to be sold, radon and termite insoections are suooested.
The aooraiser is not aualified to detect such substances.
VALUATION ANALYSIS
ESTIMATED SITE VALUE =$ Comments on Cost Approach (such as, source of cost estimate, site value, square foot
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: calculation and, for HUD and VA, the estimated remaining economic life of the property):
1,700 Sq. Ft.@$ =$ ''The reoort reouests the Reproduction Cost approach which
Sq. Ft. @ $ =$ renuires the construction of an exact reolica includino the same
Sq. Ft.@$ =$ materials. methods and workmanshio and must include any existino
Sq. Ft. @ $ =$ functional obsolescence. This would be misleadina and makes this
Sq. Ft. @ $ =$ method misleadinn. The ReDlacement Cost aooroach mioht be more
=$ aoorooriate but it reauires reolacement usina modern materials
=$ methods and workmanship. olus the elimination of any oresent
=$ functional deoreciation. This too would be misleadina. and the Cost
=$ ADDroach Is therefore misleadino."
=$
Special Energy Efficient Rems =$
Porches, Patios, etc. =$
Total Estimated Cost New =$
Physical Functional External
Less ~~=$
Depreciation
Depreciated Value of Improvements =$
'As is" Value of Site Improvements =$
INDICATED VALUE BY COST APPROACH -$
Freddie Mac Form 72 10-94
PAGE 2 OF 4
Form SR3 - "WinTOTAL' appraisal software by a la mode, Inc, -1-800-ALAMODE
Fannie Mae Form 1025 10-94
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
At least three rental comparables should be reported and analyzed in this section. The rental comparables should represent the most current rental information on properties as
. silJlilar and proximate to the subject property as possible. (This comparison is based on current rental data, therefore, the rental comparables typically are not the same comparables
used in the sales comparison analysis.) The appraisal report should assure the reader that the units and properties selected as comparables are comparable to the subject
property (both the un~s and the overall property) and accurately represent the rental market for the subject property (unless otherwise stated w~in the report).
SUBJECT COMPARABLE RENTAL NO.1 COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
145 Herman Ave. 615 Bosler Ave. 222.224 Herman Ave.
Lemo ne Lemo ne Lemo ne
0.25 miles NE 0.17 miles SW 0.19 miles NE
Data source
NA
1.27-06
MLS
NA
1-27-06
MLS
Rent concessions
None
None
None
None
Description of
property-units,
design, appeal,
age, vacancies,
and conditions
No. Units 2 No. VaG. 0 Yr. Bit.: 1925
Traditional s Ie 2 unit in
avera e condition.
Yr. BR.: 1900
Ie 2 unit in
Individual
un~
breakdown
Total
Rm. Count
Tot Br Ba
3 1 1
3 1 1
Rm. Count
Tot Br Ba
3 1 1
4 2 1
Units are
unfurnished.
Ran e/Ref are
su lied. Landlord
a s water sewer &
trash.
Avera e condition.
Utilities,
furniture, and
amenities
included in rent
Functional utility,
basement,
heating/cooling,
project amenities, etc.
Avera e Condition.100%
Basement
Avera e Condition. 100%
Basement
Avera e Condition 100%
Basement
SubJect'. rent schedule The rent schedule reconciles the applicable Indicated monthly market rents to the appropriate subject unit, and provides the estimated rents for the
subject property. The appraiser must review the rent characteristics of the comparable sales to determine whether estimated rents should reflect actual or market rents. For
example, if actual rents were available on the sales comparables and used to derive the gross rent multiplier (GRM), actual rents for the subject should be used. If market rents
were used to construct the comparables' rents and derive the GRM, market rents should be used. The total gross estimated rent must represent rent characteristics consistent
with the sales comparable data used to derive the GRM. The total gross estimated rent is not adjusted for vacancy.
LEASES ACTUAL RENTS
~~ ~~ ~
Be in End Unfurnished Rents
Unk Unk 250 250
Unk Unk 475 475
Unk Unk 430 430
1ili~~lMiiijjJ ~ ~~~~I'~~~~~~I~lJ~:.~~~l
3 1 155
Other monthly income (itemize) NA
Vacancy: Actual last year --.!! % Previous year --.!! % Estimated: ~ % $ 416 Annually
UtIlities included in estimated rents: 0 Electric [8J Water [8J Sewer [8J Gas [8J Oil [gj Trash collection
1155
0.00
1155
$
Total gro.. estimated rent $
o
Comments on the rent schedule, actual rents, estimated rents (especially regarding differences between actual and estimated rents), utilities, etc.: The above cited rents are
ieal for this area. Most rents in this area include some e of utilities. The overall actual rents and the estimated rents are considered e ual.
It is not tical to rent units furnished in this articular location. Actual rents are considered to be market rents. Monthl a artment rents total
$1155. Total annual rent is $13860.
Freddie Mac Form 72 10-94
Fannie Mae Form 1025 10-94
PAGE 3 OF 4
Form SR3 - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
Thw undersigned has recited II1ree recent sales of properties most similar and proximate to lI1e subject property and has described and analyzed lI1ese In this analysis. II there
Is a significant variation between lI1e sublect and comparable properties, the analysis Includes a dollar adjustment reflecting lI1e maillet reaction to those Items or an explanation
supported by lI1e market data. If a significant Item In lI1e comparable property Is superior to, or more favorable than, the subject property, a minus (-j adjusbnent Is made, lI1us
reducing lI1e adjusted sales price of the comparable property; If a slgnlflcant Item In lI1e comparable property Is Inferior to, or less favorable than, the subject property, a plus (+)
adjustment Is made, thus Increasing the adjusted sales price of the comparable property. [(1) SaIe8 Price / GI'OII Monthly Rent]
Net Adi. (total)
Adjusted sales price
01 comoarable $ 121 830 $ 119 630
Comments on sales comparison (including reconciliation 01 all indicators of value as to consistency and relative strength and evaluation of the typicallnvestor's/purchaser's
motivation in that market): All sales were within the and in the same school district. Sales ranced from a low of $119 630 to a hiah of $124.560. The
orice oar unit ranced from a low of $30813 to a hlch of $58450. The value indicated bv the sales comoarison aooroach on the above arid is at or
near the uooer end of the value ranoe and at $124 000.
ITEM
433 Hummel Ave.
Address Lemovne
ProximitY to subiect
Sales orice
Sales price oer GBA
Gross monthly rent
Gross mo. rent mult. (1)
Sales orice oer unit
Sales orice oer room
Data and/or
Verification Sources
ADJUSTMENTS
Sales or financing
concessions
Date 01 sale/time
Location
Leasehold/Fee Slmole
Site
View
Design and apoeal
QualitY 01 construction
Age
Condition
Gross Buildina Area
Unit
breakdown
Basement descriotlon
Functional utilitv
Heatiriiitcooling
Parking oWofI site
Project amenities and
lee (If apoUcable \
SUBJECT
$
$
$
1 155.00
NA
COMPARABLE SALE NO.1
622-624 Market St.
Lemovne
0.27 miles NW
rXI Unl. Fum. $ 123250
$ 57.92
$ 1.505.00
81.89
$ 30.813
$ 10271
MLS/Courthouse
COMPARABLE SALE NO.2
121 Herman Ave.
Lemovne
0.27 miles NE
rXI Unl. r Fum. $ 115000
$ 61.89
$ 1 200.00
95.83
$ 115000
$ 28 750
MLS/Courthouse
COMPARABLE SALE NO.3
307 Tenth St.
New Cumberland
1.37 miles SE
rXI Un!. il Fum. $ 116900
$ 80.29
$ 920.00
127.07
$ 58.450
$ 19.483
MLS/Courthouse
$
$
Inspection
DESCRIPTION
Suburban
Fee SimDle
.15 Acres
Averaae
Traditional
Averaoe
111
Averaoe
1 700 Sa. ft.
No. Rm. count No.
u~its Tot Br Ba Vac.
1 4 1 1 0
1 5 2 1 0
1 4 2 1 0
Full Unfinished
AveraQe
OFW AlNo CA
1 Car Detached
NA
DESCRIPTION
: + (- ) $ Adiustment DESCRIPTION : + (- ) $ Adjusbnent
Conventional
None Known
+5.000 8/30105 DOM 5 :
Suburban
Fee Simole
.08 Acres
Averaoe
2 UnitlAverane
Averaae
84
Averaae :
1 456 Sa. ft. :
Nr. Rm. count No.:
U~its Tot Br Ba Vac::
1 3 1 1 1:
1 3 1 1 1:
: + (-) $ Adlusbnent DESCRIPTION
Conventional
None Known
+5.000 22/22/04 DOM 7 :
Suburban
Fee Simole
.12 Acres
Averaae
2 UnitlAverane
Averaae
93
Averaae :
1 858 Sa. ft. :
Nr. Rm. count No.:
u~lts Tot Br Ba Vac.:
1 4 2 1 :
4 2 1 :
Conventional
None Known
9/30/04 DOM 6 :
Suburban
Fee Slmole
.06 Acres
Averaoe
Duolex 4 Unit
Averaae
86
Averaae
2128 Sl. ft.:
Nr. Rm. count No. :
u~lts Tot Br Ba Vac.:
1 3 1 1 0:
1 3 1 1 1
1 3 1 1 0:
1 3 1 1 0
Full Unfinished
Averaae
Gas Soace Htrs :
NA
NA
NA
-2 370
+3 660
-6 420
: +2,000 :
-2 000 :
Full Unfinished : Full Unfinished :
Averaae Averaae :
GFW AlNoCA : GFW AlNoCA :
+2 000 2 Car Detached : NA :
NA NA
NA NA
: :
+2,000
, +2 000
i+1Xf-:$
1420 rxI + Tl- :$
7.660
l -: $
1$
4 630 rXI +
124 560
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data None In the last None in the last year. None in the last year. None in the last year.
Source lor prior sales year. NA NA NA
within year 01 aooraisal CCT AO CCT AO CCT AO CCT AO
Analysis 01 any current agreement 01 sale, option, or listing 01 the subject property and analysis of any prior sales 01 subject and comparables within one year of the date of appraisal:
The orooertv is not currentlv under an aoreement to ourchase and has not transferred within the last year.
- $ 123,585 INDICATED VALUE BY INCOME APPROACH
The tVDical is investor is motivated bv the income oenerated
Total gross monthly estimated rentS 1 ,155 X gross rent multiplier (GRM) 107.00
Comments on income approach (including expense ratios, if available, and reconciliation of the GRM)
bv the rental units. GRM=ValuelGross Monthlv Rent
INDICATED VALUE BY SALES COMPARISON APPROACH H H H H H H H S 124.000
INDICATED VALUE BY INCOME APPROACH H'" H H $ 123.585
INDICATED VALUE BY COST APPROACH H" ... .... ......H S NA
This appraisal is made [gJ "as is" D subject to the repairs, alterations, Inspections, or conditions listed below D sublect to completion per plans and specifications.
Comments and conditions of appraisal: The value indicated is based on the subiect orooertv in it's "as is" condition and assumes a marketable title and
comoliance with city codes. All three aooroaches to value were considered in this value estimate.
Final reconciliation: The sales comoarison aooroach and the income aooroach are considered most reliable and are niven the nreatest weiaht. In mv
ooinion the estimated value as of the date of the aooraisal is $124 000.
The purpose of this appraisal Is to estimate the market value of the real property that is the subject 01 this report, based on the above conditions and the certification, contingent
and limiting condi~ons, and market value definition that are stated in the attached Freddie Mac Form 439/Fannie Mae Form 1004B (Revised 6-93
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OFTHE REAL PROPERTY THAT IS THE SUBJECT OFTHIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 124,000
A~PRAlSER: ~ ~ J SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Slanature --..v. 1. ~ Sianature
Name Dennis L. Stover Name
Date ReDort Signed 1-30-06 Date ReDort Sioned
State Certification # PA State Certified Residential Real Esta State PA State Certification #
Or State License # Certification Number: RL 138906 State PA Or State License #
Freddie Mac Form 72 10-94
).
D Did D Did Not
Inspect Property
State
State
PAGE 4 OF 4
Form SR3 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
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CLAUSER REAL ESTATE APPRAISALS
APPRAISAL REPORT
FOR
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EDMUND G. MYERS, ESQUIRE
JOHNSON, DUFFIE, STEWART & WEIDNER
301 MARKET STREET
LEMOYNE, PA 17043-0109
---01
n
SIX UNIT APARTMENT BUILDING
LOCATED
450 SOUTH THIRD STREET. BOROUGH OF LEMOYNE
CUMBERLAND COUNTY
LEMOYNE, PA 17043
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Prepared by
George C. Clauser, SRA
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450 S. 3rd St. Lemoyne Borough. P A
5-1201 C-4
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CLAUSER REAL ESTATE APPRAISALS
'CLAUSER REAL ESTATE APPRAISALS
POBox 777
Camp Hill, PA 17001-0777
Telephone: 717-737-7300
FAX: 717-730-0922
e-mail: CLAUSER@PAONLINE.COM
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December 20, 2005
Edmund G. Myers, Esquire
Johnson, Duffie, Stewart & Weidner
301 Market St.
Lemoyne, P A 17043
RE: Six Unit Brick Apartment Building
Located: 450 S. 3rd St.
Lemoyne Borough
Lemoyne, P A 17043
Dear Ed:
As requested, I have completed my inspection and subsequent market studies on the above
referenced property for the purpose of estimating its market value.
The property being appraised consists ofa 7,500 SF/.172 Acre site on the east side ofS. 3rd St. at
the intersection of 3rd S1. & Walton S1. in Lemoyne Borough, Lemoyne, PA 17043. The subject
property contains a two story, brick, six unit apartment building with a total gross building area of8,050
SF above grade (4025 SF per floor). The apartment units are 2 BR units with an average gross area per
unit of 1,342 SF, inclusive of the two stairwells in the building. The property is zoned S-R, Suburban
Residential. The building use is a non-conforming, pre-existing, grandfathered use in this zone.
The land is situated in Zone C of HUD identified flood hazard area and does not require flood
insurance. The appraised value assumes the property is clear of hazardous materials with DEP Phase I
Report suggested and the appraisal based on clear certifications for any testing conducted.
....i
_!.
i
Based on my studies and subject to the limiting conditions found in and attached to this report,
the property, in my opinion as of November 7,2005, exhibits an estimated market value of:
'.uJ....i
THREE HUNDRED THOUSAND-($300,000)-DOLLARS
COMMERCIAL' INDUSTRIAL' APARTMENT COMPLEXES' SUBDIVISION ANALYSIS' RESIDENTIAL
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450 S. 3rd St. Lemoyne Borough. PA
5- 1201 C-4
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CLAUSER REAL ESTATE APPRAISALS
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Details of my methods of valuation as well as a description of the improvements are contained in
the ensuing Complete Appraisal Report in Summary Report Format. This report is believed to be
consistent with recommended guidelines of the Appraisal Standards Board of the Appraisal Foundation. I
have completed numerous appraisals of a similar nature on similar type properties and comply with the
competency provisions of USP AP . This letter of transmittal is considered part of the appraisal which
follows and is not to be detached.
Employment in and compensation for making this appraisal are in no manner contingent upon the
value reported, and I certify that I have. no financial interest in the property appraised, present or
contemplated, and that the appraisal assignment was not based on a requested minimum valuation, a
specified valuation, or the approval of a loan. The appraiser has personally inspected the property. My
assistant, James Morris, accompanied me on this inspection and has assisted in the preparation of this
valuation report.
The Appraisal Institute conducts a voluntary program of continuing education for its designated
members. SRAs who meet the minimum standards of this program are awarded periodic educational
certification. I am currently certified under the SRA program.
vr:yyours,
~lc~{!f=)
P A Certified General Real Estate Appraiser
Certification Number GA-000233-L
CY~ () (};J7tfV,,::'
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James O. Morris, CCIM
Assistant to the Appraiser
GCC/jom
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Enclosures
Appraisal Report with Addenda section
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LC
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450 S. 3rd St. Lemoyne Borough. P A
5- 1201 C-4
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CLAUSER REAL ESTATE APPRAISALS
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
PROPERTY ADDRESS:
450 S. 3rd S1. Lemoyne Borough, Cumberland County,
Lemoyne, P A
OWNERS OF RECORD:
The estate of Betty G. Binkley
PARCEL NUMBER:
12-22-0822-233
IMPROVEMENTS:
Two story, brick apartment building with a total of six 2
bedroomll bath units and a total gross building area,
inclusive of front and rear stairwells, of 8,050 SF above
grade. Building has 4,025 SF gross area per floor. Heating
system consists of six individual gas fired furnaces. No
central air or sprinkler system. Tenants pay for heating
costs. All units currently rented.
LAND AREA:
.172 Acres or 7,500 SF per Deed. (SO' x 150')
LAND/BUILDING RATIO:
.93:1
ZONING:
S-R. Suburban Residential
HIGHEST AND BEST USE:
Continued use as a six unit apartment building
MARKET VALUE ESTIMATES:
Cost Approach
Income Approach
Sales Comparison Approach
N/A
$300,000
$300,000
DATE OF VALUATION
November 7, 2005 (Date of Death of Betty G. Binkley)
FINAL VALUE ESTIMATE:
$300,000
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450 S. 3rd St. Lemoyne Borough. PA
5- 1201 C-4
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CLAUSER REAL ESTATE APPRAISALS
INCOME CAPITALIZATION APPROACH - (Cont'd)
Income and Exnense Summary
Total Estimated Potential Gross Income 6 Apt Units @ $650/Mo.
Less Vacancy and Credit Loss3 %
Effective Gross Income
Less Fixed Expenses
Real Estate Taxes
Insurance (Est.)
Less Variable Expenses
ManagementJLeasing Fee (5%)
Utilities
Legal! Accounting (Est.)
Maint/Repairs/Supplies (5.5%)
Reserves for replacements (1.5%)
(Furnaces, Roof, etc.
4,700
850
$2,270
6,891
150
2.497
Total Expenses (39.7% of Effective Gross Income)
Net Operating Income
450 S. 3rd St. Lemoyne Borough. P A
34
$5,550
$11,808
$681
46,800
- 1.404
$45,396
- 18.039
$27,584
5- 1201 C-4
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CLAUSER REAL ESTATE APPRAISALS
APPRAISAL REPORT
FOR
@ ,
(Q)~~
EDMUND G. MYERS, ESQUIRE
JOHNSON, DUFFIE, STEWART & WEIDNER
301 MARKET STREET
LEMOYNE, PA 17043-0109
.....
SIX BAY MULTIPLE GARAGE BUILDING
LOCATED
WALTON STREET. BOROUGH OF LEMOYNE
CUMBERLAND COUNTY
LEMOYNE, PA 17043
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Prepared by
George C. Clauser, SRA
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Walton St. Lemoyne Borough. P A
5-1201 C-1
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CLAUSER REAL ESTATE APPRAISALS
CLAUSER REAL ESTATE APPRAISALS
POBox 777
Camp Hill, PA 17001-0777
Telephone: 717-737-7300
FAX: 717-730-0922
e-mail: CLAUSER@PAONLlNE.COM
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January 6, 2006
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Edmund G. Myers, Esquire
Johnson, Duffie, Stewart & Weidner
301 Market S1.
Lemoyne, PA 17043
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RE: Six Bay Multiple Garage Building
Located: Walton St.
Lemoyne Borough
Lemoyne, P A 17043
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Dear Ed:.
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As requested, I have completed my inspection and subsequent market studies on the above
referenced property for the purpose of estimating its market value.
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The property being appraised consists ofa 5,979 SF/.137 Acre site on the north side of Walton
S1., just east of the intersection of S. 3rd S1. & Walton S1., in Lemoyne Borough, Lemoyne, P A 17043.
The subject property contains a single story, concrete block & frame, six bay multiple garage building
with a gross building area of 1,200 SF above grade. At the time of the property inspection the garage
building was owner occupied. The property is zoned S-R, Suburban Residential. The building use is a
non-conforming, pre-existing, grandfathered use in this zone.
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The land is situated in Zone C of HUD identified flood hazard area and does not require flood
insurance. The appraised value assumes the property is clear of hazardous materials with DEP Phase I
Report suggested and the appraisal based on clear certifications for any testing conducted.
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Based on my studies and subject to the limiting conditions found in and attached to this report,
the property, in my opinion as of November 7, 2005, exhibits an estimated market value of:
_. ...
TIDRTY -SIX THOUSAND-($36,000)-DOLLARS
1__. .....
COMMERCIAL' INDUSTRIAL' APARTMENT COMPLEXES' SUBDIVISION ANALYSIS' RESIDENTIAL
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Walton 81. Lemoyne Borough. P A
5- 1201 C-I
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CLAUSER REAL ESTATE APPRAISALS
Page 2
Details of my methods of valuation as well as a description of the improvements are contained in
the ensuing Complete Appraisal Report in Summary Report Format. This report is believed to be
consistent with recommended guidelines of the Appraisal Standards Board of the Appraisal Foundation. I
have completed numerous appraisals of a similar nature on similar type properties and comply with the
competency provisions of USP AP. This letter of transmittal is considered part of the appraisal which
follows and is not to be detached.
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Employment in and compensation for making this appraisal are in no manner contingent upon the
value reported, and I certify that I have no financial interest in the property appraised, present or
contemplated, and that the appraisal assignment was not based on a requested minimum valuation, a
specified valuation, or the approval of a loan. The appraiser has personally inspected the property. My
assistant, James Morris, accompanied me on this inspection and has assisted in the preparation of this
valuation report.
The Appraisal Institute conducts a voluntary program of continuing education for its designated
members. SRAs who meet the minimum standards of this program are awarded periodic educational
certification. I am currently certified under the SRA program.
Very truly yours,
Ghl,~
P A Certified General Real Estate Appraiser
Certification Number GA-000233-L
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James O. Morris, CCIM
Assistant to the Appraiser
GCC/jom
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Enclosures
Appraisal Report with Addenda section
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Walton St. Lemoyne Borough. P A
5- 1201 C-1
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CLAUSER REAL ESTATE APPRAISALS
SUMMARY OF IMPORTANT' FACTS AND CONCLUSIONS
PROPERTY ADDRESS:
Walton St. Lemoyne Borough, Cumberland County,
Lemoyne, P A
OWNERS OF RECORD:
The estate of Betty G. Binkley
PARCEL NUMBER:
12-22-0822-236
IMPROVEMENTS:
Single story, six bay concrete block multiple garage
building with a total area of 1,200 SF (60' x 20') above
grade. Building has six OR ground level doors (8' x 8')
but no partitions between the six bays. Each bay contains
roughly 200 SF (10' W x 20' D). Building has no
electrical service & no heating or sprinkler system.
Garage was owner occupied on the date of the inspection.
LAND AREA:
.137 Acres or 5,979 SF per Deed.
LAND/BUILDING RATIO:
4.98:1
ZONING:
S-R. Suburban Residential
HIGHEST AND BEST USE:
Continued use as a six bay multiple garage building
MARKET VALUE ESTIMATES:
Cost Approach
Income Approach
Sales Comparison Approach
N/A
$35,000
$36,000
DATE OF VALUATION
November 7,2005 (Date of Death of Betty G. Binkley)
FINAL VALUE ESTIMATE:
$36,000
Walton St. Lemoyne Borough. PA
5- 1201 C-l
APPRAISAL OF REAL PROPERTY
LOCATED AT:
435 Hummel Ave.
Deed Book 0029P Page 00538
Lemoyne, PA 17043-1955
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
P. O. Box 777
Camp Hill, PA 17001-0777
Form GA1 - "WinTOTAL" appraisal software by a la mode, Inc. -1.800.ALAMODE
.
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
qeneral descrlptlon exterior description (M aterials/condition) Foundation Insulation (R-value n known)
Unns/bldgs. 2 11 Foundation Stone Slab NA ~ Roof Unknown
Stories 2 Exterior walls Brick/Frame Crawl space NA o Ceiling Unknown
Type (det/att.) Attached Roof surface Slate Sump Pump NA o Walls Unknown
Design (style) Traditional Gutters & dwnspts. Aluminum Dampness No evidence o Floor Unknown
Existing/proposed Existina Window type DbleHna Settlement No evidence o None Unknown
Under construction NA Storm sash/Screens Yes Infestation No evidence Adequacy Unknown
Year Built 1900 Manufactured housing' DYes IZI No Basement 100 % of 1st floor area Energy efficient ftems: ~
Effective age(yrs.) 15 '(Complies with the HUD Manufactured Housing Basement finish Unfinished noted
Construction and Safel'i Standards.)
IInit~ I evel(~) Fover I ivinn Dinino Kitchen Den I Familv rm. RAfimnm. 1/ Baths Laundrv Other So. f1./unit Total rtJ
1 1 1 Area 1 1 1 600 600
1 2 1 1 2 1 600 600
9 Rooms: 3 RAfirnnml.\' 2 Bath(s): 1,200 AIl~A
GROSS BUILDING AREA (GBA) IS DEFINED AS THE TOTAL FINISHED AREA (INCLUDING COMMON AREAS) OF THE IMPROVEMENTS BASED UPON EXTERIOR
Surfaces (Materials/condition) Heating Kitchen equip. (# I unlt-cond.) Attic Car Storage No. Cars ~
Roors VinlCpt Avo Type FWA Refrigerator 2/Averaae IZI None Garage IZI
Walls Plaster/Pan Ava Fuel Gas Range/oven 2/Averaae ~ Stairs Carport 0
T rim/Anish Wood Ava Condition Avo Disposal NA o Drop stair Attached 0
Bath floor Vin Ava Dishwasher NA [J Scuttle Detached IZI
Bath wainscot FG/PlasTile Avo Cooling None Fan/hood NA ~ Floor Adequate 0
Doors Wood Central NA Compactor NA o Heated Inadequate 0
Other C Fan Washer/dryer NA o Finished Offstreet 0
Condition NA Microwave NA [gJ Unfinished None 0
No '* NA IlntArr.nm NA
Condition of the improvements, repairs needed, Quality of construction, additional features, modernization, etc.: The subiect aoartments have been modernized over
the years and currently aooear to be in averaae condition.
Depreciation (physical, functional, and external inadequacies, etc.): No Functional ohvsical or external inadeouacies noted.
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: There are no adverse environmental conditions noted. If orooertv Is to be sold radon and termite insoections are suggested.
The appraiser is not aualified to detect such substances.
VALUATION ANALYSIS
ESTIMATED SITE VALUE =$ Comments on Cost Approach (such as, source of cost estimate, site value, square foot
ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: calculation and, for HUD and VA, the estimated remaining economic me of the property):
1.200 Sq. Ft. @ $ =$ "The reoort reauests the Reproduction Cost aooroach which
Sq. Ft. @ $ =$ reouires the construction of an exact replica includino the same
Sq. Ft.@$ =$ materials methods and workmanship and must include any existina
Sq. Ft. @ $ =$ functional obsolescence. This would be misleading and makes this
SQ. Ft.@$ =$ method misleadino. The Replacement Cost aooroach might be more
=$ aooroorlate but It reouires replacement uslna modem materials
=$ methods and workmanshio, plus the elimination of anv present
=$ functional deoreciation. This too would be misleadina, and the Cost
=$ Approach Is therefore misleadina."
=$
Special Energy Efficient Items =$
Porches, Pallos, etc. =$
Total Estimated Gost New =$
Physical Functional External
Less ~=$
Depreciation
Depreciated Value of Improvements . . = $
'As is' Value of Site Improvements =$
INDICATED VALUE BY COST APPROACH... =$
Freddie Mac Form 72 10-94
PAGE 2 OF 4
Form SR3 - 'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
At least three rental comparables should be reported and analyzed in this section. The rental comparables should represent the most current rental information on properties as
similar and proximate to the subject property as possible. (This comparison is based on current rental data, therefore, the rental com parables typically are not the same comparables
lfsed in the sales comparison analysis.) The appraisal report should assure the reader that the un~s and properties selected as comparables are comparable to the subject
property (both the un~s and the overall property) and accurately represent the rental market for the subject property (unless otherwise stated within the report).
Data source
SUBJECT
COMPARABLE RENTAL NO.1
145 Herman Ave.
Lema ne
0.25 miles NE
COMPARABLE RENTAL NO.2
615 Bosler Ave.
Lemo ne
0.17 miles SW
COMPARABLE RENTAL NO.3
222-224 Herman Ave.
Lema ne
0.19 miles NE
NA
1-27-06
MLS
NA
1-27-06
MLS
Rent concessions
None
None
None
None
Description of
property-un~,
design, appeal,
age, vacancies,
and conditions
No. Units 2 No. Vae. 0 Yr. Bit.: 1925
Traditional 5 Ie 2 unit in
avera e condition.
Yr. Bit.: 1900
e 2 unitin
No. Units 2 No. Vae.
Yr. Ott.: 1900
Traditional st Ie 2
unit in avera e
condition.
Individual
un~
breakdown
Total
Rm. Count
Tot Br Ba
4 1 1
5 2 1
Size
S . Ft.
600
600
Rm. Count
Tot Br Ba
3 1 1
4 2 1
Rm. Count
Tot Br Ba
3 1 1
3 1 1
Utilities,
furniture, and
amenities
included in rent
Functional util~,
basement,
heating/cooling,
project amenities, etc.
Avera e Condition. 100%
Basement
Avera e Condition. 100%
Basement
Avera e Condition 100%
Basement
Subject'. renllChedule The rent schedule reconciles the applicable indicated monthly market rents to the appropriate subject unit, and provides the estimated rents for the
subject property. The appraiser must review the rent characteristics of the comparable sales to determine whether estimated rents should reflect actual or market rents. For
example, if actual rents were available on the sales com parables and used to derive the gross rent muttiplier (GRM) , actual rents for the subject should be used. II market rents
were used to construct the comparables' rents and derive the GRM, market rents should be used. The total gross estimated rent must represent rent characteristics consistent
with the sales comparable data used to derive the GRM. The total gross estimated rent is not adjusted for vacancy.
LEASES ACTUAL RENTS
Lease Date Un~s Per Unit
Be in End Vacant Unfurnished
Unk Unk 0 435
Unk Unk 0 440
Unit
Total
Rents
435
440
~~'.J~[j~~~~
875
0.00
875
2 8~
Other monthly income (itemize) NA
Vacancy: Actual last year ~ % Previous year ~ % Estimated: 3 % $ 315 Annually
Utilities included in estimated rents: 0 Electric ~ Water ~ Sewer ~ GaS ~ Oil Z1 Trash collection
$
Total gr088 estimated rent $
o
Freddie Mac Form 72 10-94
PAGE 3 OF 4
Form SR3 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
. .
The, undersigned has recRed three recent sales of properties most similar and proximate 10 the subject property and has described and analyzed these In this analysis. K there
Is a significant variation between the subject and comparable properties, the analysis Includes a dollar adjustment reflecting the market reaction to those Items or an explanation
supported by the market data. K a slgnlflcant Item In the comparable property Is superior to, or more favorable than, the SUbject property, a minus (-) adjustment Is made, thus
reducing the adjusted sales price of the comparable property; K a slgnlflcant Item In the comparable property Is Inferior to, or less favorable than, the subject property, a plus (+)
adjustment Is made, thus Increasing the adjusted sales price of the comparable property. [(1) Sales Price I Groa Monthly Rent)
ITEM I SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
435 Hummel Ave. 622-624 Market SI. 121 Herman Ave. 307 Tenth St.
Address Lemovne Lemovne Lemovne New Cumberland
Proximity to subiect 0.26 miles NW 0.27 miles NE 1.37 miles SE
Sales mice $ NA LXI Unf. l Fum. $ 123250 IXI Unf. I Furn. $ 115000 rxI Unf. il Fum. $ 116,900
Sales price per GBA $ $ 57.92 $ 61.89 $ 80.29
Gross monthly rent $ 875,00 $ 1 505.00 $ 1 200.00 $ 920.00
Gross mo. rent mull. (1) 81.89 95.83 127.07
Sales price per unit $ $ 30 813 $ 115000 $ 58.450
Sales price per room $ $ 10 271 $ 28,750 $ 19483
Data aml/or Inspection MLS/Courthouse MLS/Courthouse MLS/Courthouse
Verification Sources
ADJUSTMENTS DESCRIPTION DESCRIPTION : + (-) $ Adjustment DESCRIPTION : + (- I $ Adlustment DESCRIPTION : + I-I $ Adlustment
Sales or financing .. Conventional Conventional Conventional
concessions None Known None Known None Known
Date of saleltime 9/30/04 DOM 6 : +5 000 11/22/04 DOM 7 : +5 000 8/30/05 DOM 5 :
Location Suburban Suburban Suburban : Suburban :
Leasehold/Fee Simple Fee Simole Fee Simole : Fee Simple : Fee Simole :
Site .075 Acres .06 Acres ,12 Acres : .08 Acres :
View Average Average Average : Averaoe
Deslan and appeal Traditional Duplex 4 Unit 2 Unit/Average 2 Unit/Averaoe
Quality of construction Average Average Average Averaoe
Aae 111 86 93 : 84
Condition Averaae Average Average : Averaae :
Gross Building Area 1 200 Sq. fl. 2 128 S . fl. : -13920 1,858 S . fl.: -9 870 1 456 Sa. fl. : -3 840
No. Rm. count No. No. Rm. count No. No. Rm. count No.: No. Rm. count No.:
of Vac. of Vac.: of Ba Vac.: of Ba Vac.:
unlls Tot Br Ba unlls Tot Br Ba unRs Tot Br unlls Tot Br
Unit 1 4 1 1 0 1 3 1 1 o : 1 4 2 1 : 1 3 1 1 1 :
breakdown 1 5 2 1 0 1 3 1 1 1 : 4 2 1 : 1 3 1 1 1 :
1 3 1 1 0: -2,000 : :
1 3 1 1 0: -2 000 : :
Basement description Full Unfinished Full Unfinished Full Unfinished : Full Unfinished :
Functional utilitv Averaae Averaae : Average : Averaoe :
Heating/cooling OFW AlNo CA Gas Soace Htrs : GFW AlNoCA : GFWAlNoCA :
Parking oWolI site 1 Car Detached NA : +2 000 2 Car Detached : -2.000 NA : +2 000
Project amenities and NA NA NA : NA
fee (If applicable) NA NA NA
: :
Net Adj. (total) r + LXI- : $ 10920 r + LXI-:$ 6,870 il + I'XI -: $ 1840
Adjusted sales price I I 1$
of comparable .. $ 112330 $ 108130 115060
Comments on sales comparison (including reconciliation of all indicators of value as to consistency and relative strength and evaluation of the typical investor's/purchaser's
motivation In that market): All sales were within the and in the same school district. Sales ranged from a low of $108 130 to a hiah of $115 060. The
orice oer unit ranoed from a low of $30 813 to a high of $58 450. The value indicated by the sales comoarison aooroach on the above orid is at or
near the UODer end of the value ranoe and at $115 000.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data None in the last None in the last year. None In the last year. None in the last year.
Source for prior sales year. NA NA NA
within year of appraisal CCTAO CCTAO CCTAO CCTAO
Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
The orooertv is not currentlv under an aareement to ourchase and has not transferred within the last vear.
Total gross monthly estimated rent $ 875 X gross rent multiplier (GRM) 131.00 = $ 114,625 INDICATED VALUE BY INCOME APPROACH
Comments on income approach (including expense ratios, if available, and reconciliation of the GRM) The typical is investor is motivated by the income Qenerated
bv the rental units. GRM=ValuelGross Monthlv Rent
INDICATED VALUE BY SALES COMPARISON APPROACH S 124000
INDICATED VALUE BY INCOME APPROACH - - . . . . . . . . . . . . . .. - HHHHH S 114625
INDICATED VALUE BY COST APPROACH - - . - - . . . . - - - . . . . . . - . - -. .. - . HHHHHHHHH S NA
This appraisal is made [8J "as is' o subject to the repairs, alterations, inspections, or conditions listed below o subject to completion per plans and specifications
Comments and conditions of appraisal: The value indicated Is based on the subiect orooertv in it's "as is" condition and assumes a marketable title and
compliance with city codes. All three aooroaches to value were considered in this value estimate.
Final reconciliation: The sales comoarison aooroach and the income aooroach are considered most reliable and are oiven the oreatest weioht. Inmv
opinion the estimated value as of the date of the aooraisal is $115 000.
The purpose of this appraisal is to estimate the market value of the real property that is the subject of 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 Form 439/Fannie Mae Form 1004B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE S 115,000
APPRAISER: U J. 56 SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Sionature Sianature o Did o Oid Not
Name Dennis L. Stover Name Inspect Property
Date ReDort Sianed 1-30-06 Date Report Sianed
State Certification # PA State Certified Residential Real Esta State PA State Certification # State
Or State License # Certification Number: RL 138906 State PA Or State License # State
.
Freddie Mac Form 72 10-94
SMALL RESIDENTIAL INCOME PROPER" APPRAISAL REPORT
PAGE 4 OF 4
Form SR3 - "WinTOTAL" appraisal software by a la mode, Inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
SHERRY SIMONS APPRAISALS
Fie No. 110 PARK PLACE
APPRAISAL OF
SINGLE FAMILY RESIDENTIAL
LOCATED AT:
110 Park Place
Corry, PA 16407
FOR:
Estate for Betty G. Binkley
nfa
BORROWER:
nJa
AS OF:
November 7,2005
APPRAISED VALUE:
$26,000
BY:
Sherry Simons
Certified General Appraisal
RR. 3 Box 470, Spartansburg, PA 16434 814-663-0242 e-mail ssimons@tbscc.com
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Single Family Residential
The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
A"ooertv Adctess 110 Park Place City Corrv State PA lio Code 16407
Barower n/a Owner of Public Recad Marv Ann Kibler & Betty Binklev Countv Erie
leoal Desaiotion 110 Park Place Bk 1647 oaae 0255
.Assessa's Pa-cel # 07023090000200 Tax Vear 2006 RE.Taxes$ 1751.07
Neiohbahood Name n/a Mao Reference 07023090000200 Census Tract 0119.00
~ t flOwner Ix I Tenant r I Vacant Soecial Assessments $ n/a r lPUD HOA $ n/a [Xl per yea: f loer month
.. PrnnNlv Riohts Anoraised Ix I Fee Simole r lleasehold r lOtherldesaibel
.Assionment Tvoe I 1 Purchase Transaction r I Refinance Transaction Ix I Other (desaibe) estate
lender/Client Estate for Bettv G. Binklev Adltess n/a
Is the subiect orooerty currentiy oIIered lu sale a has it been offered lu sale in the twelve months pria to the effective date of this appraisal? lives IxlNo
Report data source(s) used, offering price(s), and date(s). The subiect is not currentlv listed
I U did lKJ did not analyze the contract fa sale for the subject purchase transaction. Expiain the results of the analysis of the contract for sale a why the analysis was not performed.
The orooertv is not listed nor for sale at time of aooraisal
I Contract A"ice $ n/a Date of Contract n/a Is the oranertv seller the owner of public record? IX Ves . r 1 No Data Source(s) n/a
. Is there any financial assistance (loan cha:ges, sale concessions, gift rr downpayment assistance, etc.) to be paid by any party on behalf of the bcrrower? Dves DNa
If Ves, repat the total dolla: amount and desaibe the items to be paid. $ This data is not available.
......: IbIc. .nd the r.clal cam_IlI01l of the nalahborh_ ... not .DIII'....I factors.
Nelghblll'_ C-..U.,. One-Unit Houalng Trends One-Unlt H_lng .....ent Loond U.. %
Locatiu1 f X llkbsl f JSuIxrban I 1RurBl A"ooertv Values I Ilnaeasino Ix I stable I I Dedinino PRICE AGE ()}e-U1it 80%
Buin-Uo IxlOver 75% f 125-75% r 1Under 25% DemandlSupp/y I I Shcrtaoe r X 11n Balance I lOver Supplv $(000) 1\IrS) 2-4 Unit 15 %
. Q-owth r 1 Rapid I I Stable fxlSlow Marketino Time [J Under 3 mths Ix 13-6 mths r lOver 6 mths 18 Low 75 Multi.Family 5%
Neighbrrhood Bounda-ies The subiect is bordered on th North bv Park Place. East by Center 50 Hioh 100+ Commercial %
~ street West by Grace street South bv Mott street. 20/45 A"ed. 100 other %
Neighbahood Desaiption See Attached Addendum
Market Conditions (including support frr the above conclusions) This is a typical active market for the area. No soecial financina loan discounts interest
buvdowns or concession were found for the subiect or comoarable sales in this market.
Dimensions 60x109.5 Area .15 Acres Shapa rectangular View neighborhood
I Soecific Zonina Classification single familY Zonina Description sinale familY residential
Zoning Compliance Ix legal I I leaal Nonconlumino (Q-andfathered Use) I I No Zonina r 1 Illegal (desaibe)
Is the highest and best use of the subject property as improved (rr es proposed per plans and specifications) the presant use? (K]Ves DNo If No, desaibe.
UUlllla. "ubllc OUl.. (describe) "ubllc OUler (describ.) orr-sltelmlll'ovamen_Ty"" !'ubllc !'riv.ta
E1ectricitv Ixl [ I Water fxl I Street oaved fxl fl
Gas Ixl [ I Sanitarv Sewer rxl l A1lev none fl fl
FEMASoecial Rood Hazard Area f lves fxlNo FEMA Flood Zone C FEMA Maa # 420447 0002B FEMA Map Dete 02115/1978
Are the utilities and off-site imorovements tvoical frr the market area? fxlves f lNo If No desaibe.
Are there any adverse site conditions or external factas (easements, encroechments, environmental conditions, land uses, etc.)? UVes [i]No If Ves, desaibe.
GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materlalslconcltian INTERIOR materialslcandition
lktits Ixl ()}e r 1 ()}e with ~ lktit I Conaele Slab r 1 a-awt Soace Foundatia1 Walls block/stone Roars crptlvinvlnair
# of Strries 2 xl Full Basement l J Partial Basement Exterirr Walls frame/alum Walls plasterlfair
Tvoe (x I Del. I IAtt I 1 S-DetlEnd Unit Basement Area 945 sa. ft. Roof Surface asohalt shinale Trim/Finish Painted/avo
I rx 1 Existino f l A"ooosed r l Under Const Basement Anish 0% Gutters & Downspouts none Bath ROCT Vinvl/avo
Desion (stvte) 2 storv/ older I Outside Entrv/Exit r 1 Sumo Puma Window Tvoe wood/double huna Bath Wainscot Fiberalass encla\
Vea: Built 1900 Evidence of I X I Infestation Stcrm Sash/Insulated none Car Staaoe I I None
Effective ADe IVrs) 35 1 Damoness r 1 Settlement Saeens some xl Drivewav # of Cars 2
Allie X None HeatinQ I I FWA II I HWBB I r 1 Radiant Amenities WoodStovels) # Drivewav Surface un paved
~ 1 Droo Stat stairs XIOtherGFA I Fuel gas 1 FlI"eolace(s) # Fence X I Garaoe # of Ca:s 2
1Floa Scuttle Coo/ina I I Central Air Condihanina 1 Petio/Deck X Perch covlencl l Carport # of Cars
1 Anished Heated 1 Individual II IOther !PooI Other lAtt. fX1Det f l Built.in
I Analiances 10 I Retioerator ( p I Ranoe/Oven I Dishwasher ( I Disposal I I Microwave f 1 WasherlDrver I I Other/describe)
Anished area above crade contains: 6 Rooms 3 Beaooms 1.5 Bath(s) 1,845 Saua:e Feet of Q-oss Living Area AbrNe Q-ade
Additional features (special energy efficient items, etc.). No additional features were noted.
.
Describe the condition of the property (including needed repairs, deterirration, renovations, remodeling, etc.). The followino is a list of items that should be reoaired to
make the house acceotable for mortoaae security. 1. Exterior foundation walls needs reoaired. 2. Roof needs reoaired or reolaced on
the aaraae and house. 3. Several areas of interior need reoair do to water damaae. 4. Kitchen needs uodated. 5. Front stees need
reoaired. 6. Electric service needs to be uodated aooears to be 60 amo service.
In there eny physical deficiencies rr edverse conditions that affect the livability, soundness, a structural inte!1ity of the property? [X]Yes DNo If Ves, desaibe. There is
areas of the interior that have maior damaae from water leakaae.
Does the property generally conform to the neighbahood (functional utility, sl\o1e, condition, use, construction, etc.)? lXJYes DNa If No, dasaibe.
Freddie Form 7
Uni~orm Residential Appraisal Report
Ale No. 110 PARK PLACE
Mac
o ~ 2005
Produced UIlrw;l "0 lOftw8te, 800.2304.8127 WWW.iJClWb.com
Page lore
farwue Mae Form 1004 March 2005
100.f. _05 033005
Single Family Residential
Uniform Residential Appraisal Report
File No. 110 PARK PLACE
There <se 4 como<sable crooerties currenUy offered fa sale in the subiect neiahbahood ranaina in price from $ 18 000 to $ 39 000
There ~e 6 comOl~able sales in the subiect neiahbahood within the oast twelve months ran 'no in sale arice from $ 17000 to$ 30000
FEATURE I SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
110 Park Place 61 Miles St 245 Franklin St 88 W. High Street
Adctess Corry Union City. Pa Corry. Pa Union Citv Pa.
ProximItY to Sublect 12 Miles 4 Blocks 11.85 Miles
SlIIePrice $ nla -I $ 25 900 1$ 24 000 1$ 27 500
SIlIe F'liceoQaos LN. /l(ea $ 0.00 so fl $ 14.97 sa. fl. I $ 13.81 so. ft. I $ 16.75 sa. fl. I
Data Source(s) insoection MLS Assessment card Assessment card
Veriication Source(s) cersonal exterior exterior exterior
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION 0(-1$-" DESCRIPTION 0(-)$- DESCRIPTION <(-)$~
SlIIs a Fmsndng nla Conventional Unknown Unknown
Concessions none noted Unknown Unknown
Date or SalelTime nla 8/24/2005 8/25/2005 9/2212005
Location Urban Urban Urban Urban
Lll8SSholdIFllS Sirrmle Fee Simole Fee Simole Fee Simole Fee Simole
Site .15 Acres .19 Aeresleo .22 Acres -350 .25 Acres -550
ltIew neiahborhood neiohborhood neiahborhood neiahborhood
Desion lstvtel 2 storvl older 2 stOry 2 stOry 2 stOry
~alitv ci Construction Averaae Averaae Averaae Averaae
Actual Aae 106+1- Years 1900/eff ea 1900/eff ea 1910/eff eo
Condition Fair Fair Fair Averaae -2 750
I>bCNe Grade ToIaI IIlcrmsI eath& TolaIlecrn.sl I!alt'o Total IIlcrmsJ eath& Tolal IBdrmsJ Il8th&
Room Count 6T3\ 1.5 713\ 1 500 6131 1.5 6131 1 500
GrC6S UWla !lrea 8.00 1 845 sa. fl 1 730 so. fl. 900 1 738 50. fl. 900 1 642 sa. ft 1600
Basement & Finished Full/945 Sq.Ft. partial 500 Full Full
~ Rooms Below Grade Unfinished unfinished unknown unknown
Functional Ulilitv Averaae Averaae Averaae Averaae
HeatinolCooIina GFA FAGAS FAGAS FAGAS
. EneraY Efficient Items tvoical I tvoieal tvoieal tvoieal
G<saaelC<soat 2 Car Garaae 1 detached 500 1 attached 500 1 detached 500
Pad1lPatiolOeck Porch Porch Porch Porch
. nla nla nla nla nla
nla nla nla nla nla
nla nla nla nla nla
Net Adjustment (Total) Ixl+ I I- T$ 2400 lxl+ I 1- T$ 1050 I 1+ Ixl- 1$ 700
Adjusted Sale A'ice NetAdj. 9.3%11 Net Adj. 4.4~1. NeIAdj. -2.5% I
r:t Canp~abIes GralS Ad 9.3% $ 28 300 GralS Adi. 7.3% $ 25 050 Q-alSAdi. 21.5% $ 26 800
I 00 lid 0 did not rese~d1the sale a transfer histcry of the subject property and compa-able sales. If not, explain
My research I 1 did fx 1 did not reveal any pria sales a trans~ of the subiect rrnn..-tv fa the three vears aria to the effective dale of this aooreisal.
Data sourcels) oublic records
My rese~ch lxl did r l did not reveal anv crier sales a transfers of tha cornoarable sales for the vear pria to the date of sele of the comparable sale.
Data sourcels) Erie countv court records
Reoa1 the results of the research and analysis of the cria sale a transfer histav of the subiecl prOPerlY and com ~able sales Irenat additional aria sales on oaae 3).
ITEM SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
Date of A'ia SalefTransfer no transfer in last 3 vrs 6/30/05 7/13/2005 no transfers in last 3 yrs
A'ice of A'ia SaleIT ransfer nla 0 18000 nla
Dala Source(s) countv records countv records count;, records county records
Effective Date of Data Sourcelsl 1/22106 1/22/2006 1/22/2006 1/22/2006
Analysis of pria sale a transfer histay of the subject property and comparable sales The subiect property has not transferred in the last 3 vears
Summsy r:t Sales Canpllison Approach See Attached Addendum
Indicated Value bv Sales Cano~ison Aocroad1 $ 26 000
IndlcNd Val... by: Sal.. Com....rlson AoarD8ch $ 26 000 CDllt AnorD8ch flf d.v.loDlldl $ 56 700 Income ADDfD8ch (If d.v.loDttdI $ 0
See Attached Addendum
.
. This appraisal is made ~ "as is,. U subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been complated.
o subject to the fc~lowing repairs a alterations on the basis of a hypothetical condition that the repairs a alterations have been completed, a Osubject to the following required
. inspection based on the extraadin~y assumption that the condition a deficiency doas not require alteration a repair:
Based on a compl.t. visual inspection of tha int.rior and .xterlor ar.as of th. subJect prop.rty. deflud scop. of work, stat.m.nt of assumptions and IImltlng
conditions, and appraiser's certlflcaUon, my (our) opinion of the marht va/u., 8S d.f1ned, of th. real property thatla th. aubJ.ct of thl. r.port I. S 26 000
u of 11/07/2005 . which Is the date of insD.ctlon and lh. .".ctlve date or thla aooralea' '
Freddie Mac Focm 70 M..-ch 2005 .
Produced UlII'IQ ACllCIltware, 800234.8727 www.aciWeb.com
Page 2 010
Sherry Simons Appraisals
Fame Mae Form 1004 Ma'ch 2\Di
11104_05 033005
Borrower: n/a
Property Address: 110 Park Place
City: Corry' .
Lender: Estate for B~ G. Binklev
State: PA
Zip: 16407
J
~~~.1
I
I
;/
.'f
I
.
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date: November 7,2005
Appraised Value: $ 26,000
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
Borrower:
Property Address: 110 Park Place
City: COrry' ·
Lender: Estate for Bettv G. Binkley
File No.: 110 PARK PLACE
Case No.:
State: PA
Zip: 16407
Infestation on basement beams
Basement area
Bedroom
Basement area
Bedroom
Garage in poor condition. Needs new roof
Produaod UIlngACI_, 800234.8127......_"""
PHT8
file No:, '\ '\0 PARK pv<CE.
case No.:
2i " '\6407
State: PA
~ '\ '\0 paOlo Place
.
~r a
'f,Jater damage
Ir damage
eath
Kitchen
~
easement
Another ~itChen area
~.-.tGl___.llOO.~.llIV-"'--
Borrower: nla
Property Adltess: 110 Park Place
City: Conv ·
lender: Estate for Bettv G. Binklev
Roof poor condition
Comments:
File No.: 110 PARK PLACE
Case No.:
State: PA
Zip: 16407
~
~'--"
'~'..:.:;~,
-);
~
.: 1\1
Foundation needs repair
Comments:
Bathroom second floor
Comments:
Ceiling damage
Comments:
USPAP COMPLIANCE ADDENDUM
FUe No.110 PARK PLACE
~ .
APPRAISER'S CERTIFICATION:
l'I1e following Certification statements are in addition to and may supercede the signed Appraiser's Certification attached to this appraisal report.
This Appraiser's Certification is compliant with the current edition of the Uniform Standards of Professional Appraisal Practice.
I certify that, to the best of my knowledge and belief
The statements of fact contained in this report are true and correct.
The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal,
impartial, and unbiased professional analyses, opinions, and conclusions.
I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.
I have no bias with respect to the property that is the subject of this report or to the parties invoved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting predetermined results.
My compensation for completing this assignement is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client. the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent
event directly related to the intended use of this appraisal.
My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I (R) have 0 have not made a personal inspection of the property that is the subject of this report. (If more than one person signs this certification,
the certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraised property.)
No one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions, the name of each
individual providing significant real property appraisal assistance must be stated.)
PURPOSE, INTENDED USE, AND INTENDED USER OF THE APPRAISAL:
The purpose of the appraisal is to estimate the market value of the subject property, as defined in this report, as of the effective date of this report.
The intended use of the appraisal is to assist the client and any other intended users in the underwriting, approval, and funding of the mortgage loan.
The intended users of this report are the stated client and any other institutions involved in the underwriting, approval, and funding of the mortgage
loan. No one else, including the purchaser and seller, should rely on the estimate of value or any other conclusions contained in this appraisal report.
ANALYSIS AND REPORT FORM:
The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property
and neighborhood, and selection of comparable sales, listings, andlor rentals within the subject market area.
The original source of the comparable data described in the Data Source section of the market grid along with the source of confirmation provided,
where available, the original source is presented first. The sources and data are considered reliable. When conflicting information was provided,
source deemed most reliable has been used. Data believed to be unreliable was not included in the report or used as a basis for the value
conclusion. The extent ofthe analysis to this assignment is stated in the Appraiser's Certffication included above and attached to this report.
DEFINITION OF INSPECTION:
The term .Inspection., as used in this report, is not the same level of inspection that is requr-ed for a .ProfesSlOnal Home Inspection.. The appraiser
does not fully inspect the electrical system, plumbing systems, mechanical systems, foundation system, floor structure, or subfloor. The appraiser is
not an expert in construction materials and the purpose of the appraisal is to make an economic evaluation of the subject property. If the client
needs a more detailed inspection ofthe property, a home inspection, by a Professional Home Inspector, is suggested.
DIGITAL SIGNATURES:
The signature(s) affixed to this report, and certification, were applied by the original appraiser(s) or supervisory appraiser and represent their
acknowledgements of the facts, opinions and conclusions found in the report. Each appraiser(s) applied his or her signature electronically using a
password encrypted method. Hence these signatures have more safeguards and carry the same validity as the individual's hand applied signature.
If the report has a hand-applied signature, this comment does not apply.
OPINION OF MARKET VALUE VS ESTIMATE OF MARKET VALUE:
The current Uniform Standards of Professional Appraisal Practice defines the market value conclusion as an opinion of market value and not an
estimate of market value.
THREE YEAR SALES HISTORY FOR THE SUBJECT PROPERTY:
The appraiser h.as. complied with Standards Rule 1-5b an~ 2-2b (ix) requiring the appraiser to analyze and report a" sales of the subject property
~hat occu~ed Within the three (3) years pflor to the effective date of the appraisal. If this information was available to the appraiser(s), it is reported
In the subject column of Sales Comparison Analysis section ofthe appraisal report.
EXPOSURE PERIOD:
B.y stud~ing the sal~s .of similar comparable residential p~operties with value ranges as identified in the Neighborhood section of this report and
diSCUSSIOns with indIViduals knowledgeable of current neighborhood trends in the subject area, the appraiser feels that the exposure time for the
subject property is equal to the indicated Marketing Time identified in the Neighborhood section of this appraisal report.
APPRH~
Signalure tfl.
Nalll8 Sher Simons
Dale Report Signed 02116/2006
Slale Cartificalion , GA-975-L
Or Slale License' GA-975-L
~~
SUPERVISORY APPRAISER:
State PA
Stale
Signalure
Name
Dale Report Signed
State Certification'
Or Stale License'
o Did 0 Did Not
Inspect Properly
Slate
State
PrOcluced WIng ACI aofhnr., 8OO.23.un7 www.Kiwb_com
Sherry Simons Appraisals
..
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A. Settlement Statement
U.S. Department of Housing
and Urban Development
~
B. Type of Loan
1.0 FHA 2. 0 FmHA 3.0 Conv. Unlns.
4. 0 VA 5. 0 Conv. Ins.
l'~""
C. Note: This form Is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are
shown. Items marked "(p.o.c.)" were paid outside closing; they are shown here for informational purposes and not
Included In the totals.
D. Name and Address of IlorTower '=-1' Name and Address of Seifer
Paul E. & Marlene A: Hamilton The Estate of Betty Binkley
1075 N. Center St.
Corry, PA 16407
6. FDa Number
F. Name and Address of Lender
nla
H. Settlement Agent Joan M. Fairchild, Esquire
G. Property Loc:ation
934 N. Center St.
Corry, PA 16407
(6) 15-21-30
Place of Settlement
132 N. Center St.
Corry, PA 16407
I. Settlemenl Oata
6/28/2006
DIsbursement Date
Lot: Block' .
J. Summary of Borrowe.... Transacllon
100 Gro.. Amount Due From Borrower
K. Summary of Seller's Transaction
400 Gross Amount Due To Seller
101. Contract sales price 46.000.00 401. Contract sales price 46,000.00
102. Personal property 402. PersonallllOllerlv
103. Sattlemant charges to borrower (line 14001 1,078.00 403.
104. 404.
105. 405.
Adjustments for Items paid bv ..I.... In advance Adjustments for Items paid bv ..ner In advance -
106. Cltvllown taxes to 173.75 406. Cityllown taxes to 173.75
107. County taxes to 130.31 407. County taxes to 130.31
108. Assessments to 408. Assessments 10
109. School to 5.25 409. School to 5.25
110. to 410. to
111. to 411. to
112. to 412. 10
113. to 413. to
114. to 414. to
115. to 415. to --
120. Gross Amount Due From Borrower 47,387.31 420. Gross Amount Due To Seller 46,309.31
OfB
500 Red etIo I Am nt D T setl
200. Amounts Paid By Or In Behalf orrower u ns n ou ue 0 er
201. Deooslt or eamest money 1 000.00 501. Excess dePOsit (see instructions)
202. Principal amount of new Ioan(s) 502. SetUement charass to seller (line 1400\ 3,240.00
203. Existing Ioan(s) taken subject 10 503. Existing Joan(s) taken subject to
204. 504. Payoff of first mortoaae loan
205. 505. Payoff of aecond mortoaoe loan --.----
206. 506.
207. 507.
208. 508.
209. 509.
Adjustments for Items unpaid by .eUer AdJustments for Items unpaid by SeUer
210. Cityltown taxes to 510. Cityltown taxes 10
211. County taxes 10 511. County taxes to
212. Assessments to 512. Assessments to
-
213. to 513. to
214. to 514. to
215. to 515. to
216. 10 516. to
217. to 517. to
218. to 518. to
219. to 519. to
220. Total Paid BylFor Borrower 1,000.00 520. Total Reduction Amount Due Sellar 3,240.00
300. Cash At Settlement FromITo Borrower
800. Cash At SBtt/ement ToIFrom Seller
301. Gross Amount due from borrower (line 120) 47.387.31 601. Gross amount due to seller Olne 4201 I 46,309.31
302. Less amount paid bylfor borrower (line 220) II 1,000.00 602. Lass reductions in amt. due seller (line 5201 3.240.00
303. Cash 00 From o To Borrower 46,387.31 603. Cash lXI To o From Seller 43.069.31
SUBSTITUTE FORM 1099 SELLER STATEMENT
The information contained In Blocks E. G. H, and land on line 401 (or. line 403 and 404)1s important tax Infonnation and Is being furnished to the Internal Revenue
Service. If you are required to file a return, a negligence pana/Iy or other sanction will be imposed on you if this i1Bm Is required to be reported and the IRS detennlnes
that it has not been reported. If this real estate is your principal residence, file Form 2119. Sale or Exchange of Prindpal Residence. for any gain. with your income tax
relum; lor other transacllons. complete the applicable paris of Form 4797. Form 6232 end/or Schedule D. Form 1040). You are required to provide the Selflement Agent
(named above) with your correct taxpayer identification number. If you do not provide the Settlement Agent with your correct taxpayer identification number. you may be
subject 10 cillll or crimlnel penalties Imposed by law. Under penalties of pe~ury. I certify Ihatthe number shown on this statemenl is my correct taxpayer Identification number.
(Seffer's Signature)
.
L Settlement Charges
.
--., 46,000.00 @ 6.00 2,760.00
700. Total Sales/Broker's Commission based on price $ "/e " Paid From Paid From
Division of Commission (line 700) as follows: Borrowefs Sellefs
t - Funds At Funds At
701. $ to Settlement Settlement
702. $ to
703. Commission paid at Settlement to Prudential Advantaae"RealtV- ---- ~. 2,760.00
704.
800 Items Payable In Connecllon With Loan
801. Loan Ofigination Fee %
802. Loan Discount %
803. Appraisal Fee to
804. Credit Report to
805. Lendefs Inspection Fee
806. Mortgage insurance Appllcatlon Fee to --
807. Assumption Fee
808. .-
809. -
~10. -~--
811. --
812.
813.
900. Items Required By Lend... To Be Paid In Advance Exclude last dav In cales - line 901 ._-
901. Interest from to @$ (day
902. Mortgage Insurance Premium for months to
903. Hazard insurance Premium for years to
904. years to
905.
1000. Reserves De Ited WIth Lender
! 001. Hazard insurance
1002. Mort insurance
1003. C' ro taxes
1004. County property taxes
1005. Annual assessments
1006.
1007.
1008. ate Accounll
1100 Title Charg"
r month
per month
per month
per month
!lflI" month
months@$
months@$
month $
monthS@$
1101. Settlement or closing fee to
1102. Abstract or tille search . to Bernadette Agresti 98.00
1103. Tille examination to Joan M. Fairchild, ESQuire 330.00
1104. Tille insurance binder to
1105. DociJment preparation to Joan M. Fairchild, ESQuire 150.00
1106. Nolarv fees to
1107. Attorney's fees to Edmond Myers, Esquire - P.O.C.
(Includes above items numbers: 1
1108. Tille Insurance to
(Includes above items numbers: 1
! 1 09. Lendefs coverage $
1110. Owner's coverage $
1111.
1112.
1113.
1200. Government Recording and Transfer Charges
1201. B!lCOrding fees: Deed $ 40.00 ; Mortgage $ ; Releases $ 40.00
1202. City/county taxlsfamps: Deed $ 460.00 ; Mortgage $ 460.00
1203. ~late taxlstemps: Deed $ 460.00 ; Mortgage $ -- 460.00
1204. Filing Fee for Exemplified Letters 20.00
1205.
1300 Additional Settlement Charges
1301. Su~ to
1302. Pesllnspection to
1303. -..--- ----
1304.
1305.
1306. - - --
1307.
1308.
1400. Total Settlement Charges (enter on Iln.. 103, Sec1Ion J and 502, Secllon K) 1 078.00 3 240.00
CERTIFICATION
tement and to the best of my knowledge and bellef, It i
certify that I have received a copy of tlie HUD-1 Sa
/
Borrower
u.s. GOVEu.ENT PlINTING OFFICE: t.o.UU6
SHERRY SIMONS APPRAISALS
Fie No. 12586 rt 6
APPRAISAL OF
SINGLE FAMILY RESIDENTIAL
LOCATED AT:
12586 Rt 6
Corry, PA 16407
FOR:
Betty G. Binkley Estate
BORROWER:
Estate of Betty G. Binkley
AS OF:
November 5, 2005
APPRAISED VALUE:
$59,000
SHERRY SIMONS APPRAISALS
Fie No. 12586 rt 6
3/4/06
Betty G. Binkley Estate
File Number: 12586 rt 6
Dear Client:
In accordance with your request, I have personally inspected and appraised the real property at:
12586 Rt 6
Corry, PA 16407
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 November 5,2005 is:
$59,000
Fifty-Nine Thousand Dollars
The attached report contains the description, analysis and supportive data for the conclusions,
final estimate of value, descriptive photographs, limiting conditions and appropriate certifications.
Sincerely,
d!::7 /l. ~~
Certified General Real Estate Appraiser
RR. 3 Box 470, Spartansburg, PA 16434 814-663-0242 e-mail ssimons@tbscc.com
'-
Single Family Residential
The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
Property Ada-ess 12586 Rt 6 atv Corry Stale P A Zio Code 16407
Bcrrower Estate of Bettv G. Binklev Owner of Public Reccrd Marv Ann Kibler/Bettv Binklev Countv Erie
Legal Desaiption 12586 Rt 6 Bk 0477 page 0972
Assesscr's PlIcel # 49017043001800 Tax Vear 2006 RE. Taxes $ 1 617.52
NeiQhbcrhood Name n/a Mac Reference 49017043001800 Census Tract 0118.02
ClcoJDa'lt f 1 ONner I X IT enant r I Vacant Speciel Assessments $ n/a PUD HOA $ n/a 1 ner veer J loer month
.. Property Rights Appraised Ix 1 Fee Simole I I Leasehold I 1 Other (describe)
AssignmentType [J Purci"lase Transaction Il Refinance Transaction I X I Other (describe) Estate
lender/Client n/a Adcress n/a, Betty G. Binklev Estate
Is the subiect properly currently offered f(J' sale (J' has it been offered fer sale in the twelve months or;a to the effective date of this appraisal? r lves fxlNo
Repat data source(s) used, offering price(s), and date(s). The subject is not currentlv listed
I U did ~ did not analyze the contract fa sale fa the subject purchase transaction. Explain the results of the analysis of the contract fo: sale 0: why the analysis was not perfcrmed.
The property is not under contract
Contract Price $ n/a Date of Contract nfa Is the mODerN seller the owner of public recad? I X 1 Yes 11 No Data Source(s\ countv records
Is there any financial assistance (loan charges, sale concessions, gift C( downpayment assistance, etc.) to be paid by any party on behalf of the bo:rower? U Yes -(KfNo
e If Yes, repat the total dolla amount and describe the items 10 be paid. $ The mooertv is not under contract nor listed as of date of
aooraisal
Note: Rece end the recie' comooeltion of the neighborhood ere not eoarelsel fectors.
Neighborhood Char.-.tlcs One-Unlt lIoualng Trends One-Unit lIouslng ..r...... Lend U... %
Locatioo I !I,)ban fX1Suburban I 1 Rural Properly Values f llnaeesino [Xlstabla ( 1 Declinina PRICE AGE One-Unit 70 %
Built-Up f lOver 75% [X 125-75% { I Under 25% DamandlSuoo1v I l Shc:rtaae [X 1In Salam", r lOver Supplv $(000) (ws) 2~Unlt %
: Growth I I Raoid Ix I stable r l Slow Marketina Time I I Under 3 mths I 13-6 mths rx lOver 6 mths 45 Low 25 Multi.Familv %
e Neighberhood Boundaries The subiect is bordered on the South bV Rt. 6. Vacant land is to the 100 t-Uoh 100 Commercial 5%
.
e North. Closest road to the West is Rt. 89. 50f95 Prad. 30175 Other vacant 25 %
..
Neighberhood Description See Attached Addendum
Market Conditions (including suppa-t fa- the above canclusioos) This is a tvoical active market for the area. No special financinn loan discounts interest
buvdowns or concession were found for the subiect or comparable sales in this market.
Dimensions Refer to Deed hea 7.25+/-ac Shape rectanaular li1ew countrv/hillside
Specific Zoning Classification B-businessfR-1 Zonino Descriptioo Business and residential
Zoning Compliance Ix leoal I 1 leoal Nonconfermino (Grandfathered Use) I I No Zonina r 1111eoal (describe)
Is the highest and best use of the subject property as improved (IX as proposed per plans and specifications) the present use? lKJYes DNo If No, describe
utilities Public Other (describej Public Other (describel Off-site Improvements-Type Public Private
Electricity Ixl I J Water fl Ixl water well Street oaved IXI \ I
Gas Ixl I 1 Sanitary Sewer I I xl septic system Allev none I , [J
FEMA Special Flood Hazard hea l !Yes rxl No FEMA Flood Zone C FEMA Map # 4213730004A FEMA Map Date 12/14/1979
he the utilities and off-site imorovements tvoical fa the market area? lxlves I INo If No, describe
he there any adverse site conditions IX external facters (easements, encroaci"lments, environmental conditions, land uses, etc.)? [Xl ves 0 No If Ves, describe. A larae
portion of the land is a hillside with trees. It is unknown if there is any value to the trees. Accordino to the tenant the house has bees.
The inspection was during the winter months and there was no sian of bees on the day of insoection.
GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION maIllrialslconc:ition INTERIOR materialslooodltion
Units Ix I One I lOne with Accesscrv Unit leona-ete Slab Ixla-awl Soace Foundation Walls stonelblock Aoas hdwd/carpetlfair
# of Staies 1.5 stOry "1 Full Basement Ix I Partial Basement Exterio: Walls stonelwood Walls olaster/fair
Type Ix I Del. I J All I I S-DeUEnd Unit Basement Area 584 so. fl Roof Surface shingle TrimlFinish woo/ava
xl Existino I 1 ProPosed I I Under Const Basement Finish 0% Gutters & Downspouts none Bath Flocr ceramic/fair
Design (SMe) 1.5stv IIxl Outside Entrv/Exit r l Sump Pump Window Tvoe wood/double huna Bath Wainscot ceramiclfair
vea- Suilt 1938 Evidence of I llnfestation Starn Sashllnsulated some Car Staane I l None
Effective Aoe (vrs) 30 X I Dampness I ) Settlement Screens some xl Drivewav II of Cars 2
Allie X None Heatina I IFWA IIxlHWBBI f I Radiant Amenities WoodStovels) # Drivewav Surface unosved
-] Drop Stair Stairs 1 Other \ Fuel aas xl Fweplace{s) # 1 Fence xl Garane /I of Cas 2
IRocr Scuttfe Coolina I 1 Central f>jr Condi~onino -1 PaliolDeck X Pach 2 encl l CarnIXt # of Cars
I Finished Heated I Individual II I Other I Pool Other lAtt. [x.l Del. I I Built.in
I APpliances t J Retrigerala l J RangelOven I Dishwasher I J Disposal I I Microwave I J Washer/Drver I I other (describe)
Finished area above gade contains: 6 Rooms 3 Bea-oems 1 Bath(s} 1,878 SQuae Feel of Gross Uvina hea Above Grade
Additional features (special energy efficient items, etc.). No additional features were noted.
e
Describe the condition of the property (induding needed repairs, deteriaation, renovations, remodeling, etc.). The followina is a list of items that should be renaired to
make the house acceptable for mortaaae securitv. 1. The aaraae has a side wall that needs to be rebuilt or the naralle could be taken
down and this would give more area that has level land. 2. The bathroom on the 1st floor needs to be comoletelv remodeled. 3. The
kitchen needs floor coverina. 4. There is a area in the dinnina that needs the ceilina reoaired. 5. Accordina to the tenant the home
has bees there should be a inspection for pest control done on the home. Please note: there was no bees on the day of inspection.
Are there any physical deficiencies a adverse conditions that affect the livability, soundness, a structural integily 01 the property? 00 Ves 0 No If Yes, describe. There was
a pioe in the basement that was wraooed It could be asbestos wrap. A professional in that field is needed to determine if it is asbestos
and if it needs to be removed.
Does the property generally confo:m to the neighberhood (fUnctional utility, style, condition, use, construction, etc)? ooves DNo il No, describe. The area is comprised
of older homes along with newer homes. There is also sinale wide mobile homes in the area. Commercial business across the street.
Freddie Mac Fcrm 70 March 2005
Unjform Residential Appraisal Report
File No. 12586 rt 6
Produced USIf'Ig ACI aoftware. 800.23".8n7 nw.aciwetl.com
Page 1 016
Fa.nrte Mae Form 1004 March 2005
1004_05 033005
Single Family Residential
Uniform Residential Appraisal Report
File No. 12586 rt 6
There a-e 4 comoa-able orooerties currently offered fa sale in the subiect neiohbahood ranoina in orice from $ 50 000 to$ 61 000
There In 6 comparable sales in the subiect neiGhborhood within the oast twelve months ran inn in sale ",ice from $ 41 900 ta$ 59 900
FEATURE I SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO. 3
12586 Rt 6 54 Rt6 21313 Spartans burg HWY 69 Concord St.
Adciess Corrv Corrv. PA 16407 Corrv PA 16407 Union City. PA
PrOldmity to SUbject 7.4 miles 8 miles 8.8 miles
SalePtice $ n/a $ 61 000 1$ 57 900 1$ 58 000
Sale Ptice.Qa;s Liv. ftrea $ 0.00 sa. ft. $ 26.36 sa. ft. I $ 31.40 sa. ft. I $ 32.81 sa. ft]
Data Sw-ce(s) inspection MLS MLS MLS
Verification Source(s) oersonal Exterior Exterior Exterior
VAlUE ADJUSTMENTS DESCRIPTION DESCRIPTION 1(-)$Adl- DESCRIPTION 1(-)$- DESCRIPTION 1(-) $ Adl-
Sale or Financing nla Conventional Conventional Conventional
Concessions None None None
Date of Salemme nla 11/05/04 10/29/04 03/04/05
Location semi-rural semi-rural semi-rural semi-rural
LeaseholdIFee Simple Fee Simole Fee Simple Fee Simole Fee Siml)le
Site 725+I-ac 10.67Acres -4 250 2.94Acres 4250 1.75Acres 5000
'view countrv/hillside countrY countrv countrv
Desion (SMe) 1_ 5stv 2 stOry 2 storY solit level
Quality of Construction Average Averaae Averaae Averaae
Actual Aoe 68+/- Years older/unknfinf 2500 115+/ Yr/older 1200 40+/ Yr/eff eo
Condition fair fair Averaae -3 000 Averaae -3 000
Above Grade ToIaJ lB<tmsJ Baths To/al IBdrmsJ aallls ToIal 18<l'msJ aallls Total BdrmsJ 8aIhs
Room Count 6 131 1 6 131 1 7 141 1 9 5 I 2 -1 000
Gross Livina !\rea 8. 00 1 878 SQ. ft 2,314 sq ft. -3 500 1 844 so. ft. 0 1 768 so. ft 900
Basement & Finished Part.l584 Sq.Ft. Partial Bsmt. Partial Bsmt. Full Bsmt -500
Rooms Below Grade Unfinished Unfinished Unfinished finished -1,000
Functional Utility Averaae Averaae Averaae Averaoe
HealinalCoolinn HWBB FAG FAG HWBB
. Energy Efficient Items tvpical I tvoical Noical . tYoical
Garaoe/Caroat 2 car detlfair none 500 none 500 2 Car Attached -1 000
PCC'chlPaliolDeck Porches Porch/Deck encl Dorch/eo Patio
· fireolace 2 F/P 1FIP 500 none 1000 2 F/P
n/a nla nla nla nla
nla n/a nla nla n/a
Net Adjustment (Total) r 1+ rxl- 1$ 4.250 rxl+ I I. 1$ 3950 f + fxl- 1$ 600
Adjusted Sale Price Net Adj. -7.0% I Net Adj. 6.8~1 Net Adj. -1.0%~
of Compll'ables (}oos Adj. 18.4% $ 56 750 (}oos Ad. 17.2% $ 61 850 (}oos Adi. 21.4% $ 57 400
I 1KI did Udid nol resell'ch the sale [J' transfer histay of the subject property and comparable sales. If nol, explain
My rese.!l'ch l J did (X] did not reveal anv oria sales CC' transfars of the subiect orooerlv for the three vears oria to the effective date of this aooraisal
Data source/s) Dublic records
My research [XJ did (J did not reveal any oriCC' sales CC' transfers of the comoarable sales tor the vear orior to the date of sale of the comoarable sale
Data source/sl countv records
RepCC't the results of the research and analvsis of the oriCC' sale CC' transfer histCC'v of the sub'ect orooerty and earn arable sales (reo[J't additional oria sales on oaae 3\.
ITEM SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
Date of Pria SalefTransfer no transfer in last 3 yrs no transfer in last 3 vrs no transfer in last 3 vrs 12/4/04
Price of A-ior SalefTransfer nla nla nla 0
Data Source/s) countv records countv records county records countv records
Effective Date of Data Source(s I 3/4/06 3/4/06 3/4/06 3/4/06
Analysis of prior sale a transfer histCC'y of the subject property and comparable sales No transfer in the last 3 vears for subiect Reference to the data above
for comoarables.
Summary of Salas Comparison Approach. See Attached Addendum
Indicated Value bv Sales Cornpll'ison Approach $ 59 000
Indicated Value by: Sales Comparison Approach $ 59 000 COlIt ApDt'oach (If develoMdI $ 17 000 Income Approach (if develoMdI $ nla
.
This appraisal is made lKJ "as is." U subject to completion per plans and specifications on the basis of a hypothetical condition that the improvemenls have been completed,
o subjecllo the following repairs CC' alterations on the basis of a hypothetical condition that the repairs CC' alterations have been completed, CC' o subject to the following required
e inspection based on the extraordinary assumption that the condition CC' deficiency does not require alteration or rapair:
Based on a complete visual inspection of the interior and exterior areas o' the subject property. defined scope of work. statement of assumptions and Umitinll
conditions, and appraiser's cerliflcation, my (our) opinion of the market value, 8S defined, of the rear property that is the subject of this report Is $ 59,000
aa of 11/05/2005 ,which Is the date of Inaoection and the effective date of this aooraiu!.
Freddie Mac Fonn 70 t.kch 2005
Produced uslllg ACt softwilra, 800.23-U72711W1l1.acFftb.com
Page 2 0'8
Sherry Simons Appraisals
fame My: Focm 1004 March 2005-
1004 05 033005
Borrower: Estate of Betty G. Binkley
Property Address: 12586 Rt 6
9!Y; Corry .
Lender: nla
State: PA
Zip: 16407
'-;ArJ- \ ,~ I
r. -.. I , '\
: ' %.y;li.i:- '",
'(~'\\ -:-
"r' ~:'\.i
f
J'~~~,
FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date: November 5, 2005
Appraised Value: $ 59,000
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
USPAP COMPLIANCE ADDENDUM
FHe No. 12586 rt 6
APPRAISER'S CERTIFICA TION:f
The following Certification statements are in addition to and may supercede the signed Appraiser's Certification attached to this appraisal report.
This Appraiser's Certification is compliant with the current edition of the Uniform Standards 01 Professional Appraisal Practice.
I certify that, to the best of my knowledge and belief
The statements of fact contained in this report are true and correct.
The reported analyses, opinions, and conclusions are lim~ed only by the reported assumptions and limiting conditions and are my personal,
impartial, and unbiased professional analyses, opinions, and conclusions.
I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.
I have no bias with respect to the property that is the subject of this report or to the parties invoved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting predetermined results.
My compensation for completing this assignement is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause ofthe client. the amount ofthe value opinion, the attainment 01 a stipulated result, or the occurrence of a subsequent
event directly related to the intended use of this appraisal.
My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I fKJ have 0 have not made a personal inspection of the property that is the subject of this report. (If more than one person signs this certification,
the certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraised property.)
No one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions, the name of each
individual providing significant real property appraisal assistanca must be stated.)
PURPOSE, tNTENDED USE, AND INTENDED USER OF THE APPRAISAL;
The purpose of the appraisal is to estimate the market value of the subject property, as defined in this report, as of the effective date of this report.
The intended use of the appraisal is to assist the client and any other intended users in the underwriting, approval. and funding of the mortgage loan.
The intended users of this report are the stated client and any other institutions involved in the underwriting, approval. and funding of the mortgage
loan. No one else. including the purchaser and seller, should rely on the estimate of value or any other conclusions contained in this appraisal report.
ANALYSIS AND REPORT FORM:
The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property
and neighborhood, and selection of compara~1e sales, listings, and/or rentals within the subject market area.
The original source of the comparable data described in the Data Source section of the market grid along wfth the source of confirmation provided,
where available, the original source is presented first. The sources and data are considered reliable. When conflicting information was provided,
source deemed most reliable has been used. Data believed to be unreliable was not included in the report or used as a basis for the value
conclusion. The extent of the analysis to this assignment is stated in the Appraiser's Certification included above and attached to this report.
DEFINITION OF INSPECTION;
The term "Inspeelion", as used in this report, is not the same level of inspection that is required for a "Professional Home Inspection". The appraiser
does not fully inspect the electrical system, plumbing systems, mechanical systems, foundation system, floor structure, or subfloor. The appraiser is
not an expert in construction materials and the purpose of the appraisal is to make an economic evaluation of the subject property. If the client
needs a more detailed inspection of the property, a home inspection, by a Professional Home Inspector, is suggested.
DIGITAL SIGNATURES;
The signature(s} affixed to this report, and certification, were applied by the original appraiser(s} or supervisory appraiser and represent their
acknowledgements ofthe faels, opinions and conclusions found in the report. Each appraiser(s} applied his or her signature electronically using a
password encrypted method. Hence these signatures have more safeguards and carry the same validity as the individual's hand applied signature.
\I the report has a hand-applied signature, this comment does not apply.
OPINION OF MARKET VALUE VS ESTIMATE OF MARKET VALUE;
The current Uniform Standards of Professional Appraisal Practice defines the market value conclusion as an opinion of market value and not an
estimate of market value.
THREE YEAR SALES HISTORY FOR THE SUBJECT PROPERTY;
The appraiser has complied with Standards Rule 1-5b and 2-2b (Ix) requiring the appraiser to analyze and report all sales ofthe subject property
that occurred within the three (3) years prior to the effective date of the appraisal. If this information was available to the appraiser(s), it is reported
in the subject column of Sales Comparison Analysis section of the appraisal report.
EXPOSURE PERIOD:
By studying the sales of similar comparable residential properties with value ranges as identified in the Neighborhood seelion of this report and
discussions with individuals knowledgeable of current neighborhood trends in the subjeel area, the appraiser feels that the exposure time for the
subject property is equal to the indicated Marketing Time identified in the Neighborhood section of this appraisal report.
APPR#d~ !
Signature /l e>f~~
Hame Sher Simons
Dale Report Signed 03/0412006
SIale Certificalion . GA-975-L
Or SIale license' GA-975-L
SUPERVISORY APPRAISER:
Slate P A
SIale
Signature
Name
Date Report Signed
Stale Certification'
Or Stale license .
o Did 0 Old Hot
Inspect Property
State
Slate
Produeocl using ACI software, 800,23-4.1727 www.aciweh.com
Sherry Simons Appraisals
*
SCHEDULE B
STOCKS & BONDS
COMMONWEAlTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF BINKLEY, BETTY G.
FILE NUMBER
21 - 05 - 01018
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM DESCRIPTION UNIT VALUE VALUE AT DATE OF
NUMBER DEATH
1 15.5884 Shares of AT&T, Inc. @ $19.52 per/share 19.52 304.29
2 77 Shares of Viacom, Inc. @ $32.03 per/share 32.03 2,466.31
3 246.299 Shares - Exelon Corporation @ $51.80 per/share 51.80 12,758.29
4 100 Shares of Unisys Corp. @ $5.54 per/share 5.54 554.00
5 167.09 Shares - Daimler/Chrysler @ $51.18 per/share 51.18 8,551.67
6 150 Shares - Tyco International, Ltd. @ $29.08 29.08 4,362.00
TOTAL (Also enter on line 2. Recapitulation) 28,996.56
*
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF BINKLEY, BETTY G.
FILE NUMBER
21 - 05 - 01018
Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of
survivorship must be disclosed on schedule F.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 PNC Bank - Certificate of Deposit No. 31800257054 - Date of death balance, plus accrued 117,413.56
interest.
2 PNC Bank - Certificate of Deposit No. 31700264431 - Date of death balance, plus accrued 101.347.18
interest.
3 M& T Bank - Checking Account No. 10595872 - Date of death balance, plus accrued interest. 70,142.17
4 M&T Bank - Checking Account No. 98176528 - Date of death balance, plus accrued interest. 53,926.95
5 Members 1st Federal Credit Union - Savings Account No. 177608-00 - Date of death balance, 2,096.73
plus accrued interest.
6 Canada Life - Policy No. 823877 - Owner: Betty G. Binkley 3,504.30
Insured: James Gentilman Binkley, Son
Date of death value -
7 Canada Life - Policy No. 861406 - Owner: Betty G. Binkley 4,102.20
Insured: James Gentilman Binkley, Son
Date of death value -
8 Members 1st Federal Credit Union - Checking Account No. 177608-11 - Date of death balance, 166,319.07
plus accrued interest.
9 Sovereign Bank - Savings Account No. 2334019052 - Date of death balance, plus accrued 10,464.85
interest.
10 Household Goods - appraised value 1,070.00
11 1988 Mercury Tracer Hatchback 4 Door - date of death value 730.00
TOTAL (Also enter on Line 5, Recapitulation) 4,843,068.49
*
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
21 - 05 - 01018
ESTATE OF BINKLEY, BETTY G.
Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of
survivorship must be disclosed on schedule F.
ITEM
NUMBER
12
13
14
15
16
17
18
19
DESCRIPTION
VALUE AT DATE OF
DEATH
10.78
Viacom, Inc. - dividend checks dated 4/1/05 - $5.39 and 7/01/05 - $5.39 - not cashed before
death
PA State Bank - Dividend check dated 3/5/04 - not cashed before death
2.34
IBM - Dividend checks - 2/10/05 - $54.00; 5/10/05 - $60.00 - not cashed before death.
114.00
Legg Mason Investment Account No. 363-01869 - consisting of:
Equities: $4,225,848.60
Preferred Stocks 386.75
Mutual Funds 23,882.13
Money Market Funds 25,615.42
4,275,732.90
Commonwealth of Pennsylvania - Treasury Department
Cash - Unclaimed Property
171.46
Internal Revenue Service (Treasury Department) - Refund - decedent's
final Form 1040 for 2005.
32,932.00
PA Department of Revenue - Refund - Decedent's final 2005 - PA 40.
2,922.00
Cash -In lieu of 3 Shares - PA State Bank (now Sterling Financial) - decedent did not make a
valid election at the time of the merger.
66.00
Page 2 of Schedule E
"'=~
C Canada Life"
~
United States Home Office
P.O. Box 2305
Buffalo, NY 14240
(800) 526-2295
(888) 588-3888 (Fax)
STANDARD CONFIRMATION INQUIRY
JANUARY 17, 2006
Policy Number
Policy Owner
Insured
823877
Betty Binkley
James Gentilman Binkley
~@~W
Quote Effective Date November 07, 2005
*Gross Cash Value -$ 3,504.30
*Includes any dividend values. cash values of any riders and any premium adjustment or
refund enUtlement. Any existing loan will reduce this cash value.
Loan Payoff Amount
Paid To Date
Premium
Premium Frequency
$ 0.00
January 03, 1953
Annual
**Sum Insured $1,111.00
** any existing Joan will reduce the death benefit payable.
***Dividend Insurance Additions $3,706.31
***also includes any One Year Term Insurance purchased by dividends.
Dividend Accumulations $0.00
Primary Beneficiary
Existing Assignee
E. and O.E.
C Canada Life~
~
United States Home Offies
P.O. Box 2305
Buffalo, NY 14240
(800) 526-2295
(888) 588-3888 (Fax)
STANDARD CONFIRMATION INQUIRY
JANUARY 17,2006
Policy Number
Policy Owner
Insured
861406
Betty Binkley
James Gentilman Binkley
~(Q)~'V
Quote Effective Date November 07, 2005
*Gross Cash Value $ 4,102.20
*/ncludss any dividend values, cash values of any riders and any premium adjustment or
refund entitlement. Any existing loan will reduce this cash value.
Loan Payoff Amount
Paid To Date
Premium
Premium Frequency
$ 0.00
May 05, 1953
Annual
**Sum Insured $1,111.00
.. any existing loan will reduce the death benefit payable.
Dividend Accumulations $3,297.73
Primary Beneficiary
Existing Assignee
E. and a.E.
\0
SSN: 195-32-4687
DOD: 11/0712005
Estate of Betty G. Binkley - LeggMason (Ryan Beck & Co.) Investment Account No. 363-01869
Valuation Date: November 7, 2005
Date of Death
Descriotion Ouantitv Price Value
Daimler/Chrysler 199 Shares $51.18 $10,184.82
AT&T 3,548 Shares $24.17 $85,755.16
Abbott Lab 105 Shares $40.86 $ 4,290.30
AllState Corp. 826 Shares $56.76 $46,883.76
Altria Group, Inc. 100 Shares $71.80 $ 7,180.00
Amerada Hess Corp. 118 Shares $127.98 $15,101.64
Bank of America 844 Shares $45.34 $38,266.96
BellSouth Corp. 1, 146 Shares $27.01 $30,953.46
Blair Corp. 100 Shares $40.43 $ 4,043.00
Bristol-Myers Squibb 2,924 Shares $21.97 $64,240.28
Brunswick Corp. 407 Shares $39.82 $16,206.74
Chevron Corp. 5,764 Shares $57.46 $331,199.44
Cinergy Corp. 715 Shares $40.85 $29,207.75
Citigroup, Inc. 2,666 Shares $47.94 $127,808.04
Comcast 141 Shares $26.36 $ 3,716.76
Computer Sciences Corp. 1,200 Shares $54.05 $64,860.00
Conocophillips 2,999 Shares $63.08 $189,176.92
Cooper Cos Inc. 132 Shares $70.94 $ 9,364.08
Dow Chemical Co. 1,575 Shares $45.80 $72,135.00
Duquesne Lt. Holdings Inc. 145 Shares $17.03 $ 2,469.35
Eastman Kodak Co. 180 Shares $21.80 $ 3,924.00
Electronic Data Systems Corp. 237 Shares $24.43 $ 5,789.91
Entergy Corp. 786 Shares $68.53 $53,864.58
Exelon Corp. 5,274 Shares $52.02 $274,353.48
Exxon Mobil Corp. 6,716 Shares $57.38 $385,364.08
Firstenergy Corp. 259 Shares $46.90 $12,147.10
Ford Motor Co. 687 Shares $ 7.80 $ 5,358.60
General Motors Corp. 83 Shares $22.63 $ 1,878.29
Great Atlantic & Pacific Tea 50 Shares $28.33 $ 1,416.50
Great West Lifeco, Inc. Common 702 Shares $24.287 $17,049.47
Page 1
H J. Heinz Co. 179 Shares $35.20 $ 6,300.00
Hershey Co. 606 Shares $53.14 $32,202.84
IBM Corp. 3,895 Shares $86.89 $338,436.55
IV AX Corp. 233 Shares $30.16 $ 7,027.28
Keyspan Corp. 453 Shares $34.23 $15,506.19
Lucent Technology, Inc. 1,716 Shares $ 2.71 $ 4,650.36
Marathon Oil Co. 242 Shares $58.66 $14,195.72
McDonalds Corp. 135 Shares $33.19 $ 4,480.65
MedcoHealth Solutions, Inc. 88 Shares $53.43 $ 4,701.84
Merck & Co., Inc. 798 Shares $29.61 $23,628.78
Microsoft Corp. 2 Shares $27.97 $ 55.94
Monsanto Corp. 85 Shares $73.84 $ 6,259.40
Morgan Stanley 736 Shares $55.01 $40,487.36
NCR Corp. 162 Shares $29.72 $ 4,814.64
Nisource Inc. Holding Co. 323 Shares $21.48 $ 6,938.04
PG&E Corp. 222 Shares $35.77 $ 7,940.94
PNC Financial Services Group 4,399 Shares $62.99 $277,093.01
PP&L Corp. 12,990 Shares $29.38 $381,646.20
Pfizer Inc. 13,201 Shares $21.35 $281,841.35
Praxair, Inc. 1,454 Shares $50.90 $74,008.60
Qwest Communications IntI. 843 Shares $ 4.90 $ 4,130.70
Rite Aid Corp. 200 Shares $ 3.55 $ 710.00
St. Paul Travelers Coso Inc. 136 Shares $46.61 $ 6,338.96
Sara Lee Corp. 100 Shares $17.73 $ 1,773.00
Sovereign Bancorp Inc. 299 Shares $23.08 $ 6,900.92
Tyco International, Ltd. 156 Shares $29.06 $ 4,533.36
UGI Corp. 300 Shares $21.59 $ 6,477.00
Unisource Energy Corp. 79 Shares $3 1.23 $ 2,467.17
United States Steel 40 Shares $39.10 $ 1,564.00
Verizon Communications 4,920 Shares $31. 70 $155,964.00
Viacom Inc., Class B 3,288 Shares $33.64 $110,608.32
V odafone Group PLC 357 Shares $22.00 $ 7,854.00
Page 2
. .
.
Wyeth 9,816 Shares $43.08 $422,873.28
Xerox Corp. 697 Shares $14.25 $ 9,932.25
Zimmer Holdings, Inc. 247 Shares $62.98 $15556.06
SUB-TOTAL $4,204,088.98
Nuveen P A Premo Income
Municipal Fund 2 746.000 Shares $13.87 $ 10,347.02
Nuveen PA Investment
Quality Municpal Fund 827.000 Shares $13.80 $ 11.412.60
TOTAL $4,225,848.60
Eaton Vance P A Municipal
Fund Class A 98.336 Shares $ 9.84 $ 967.62
Franklin P A Tax Free
Income Fund Class A 2,200.057 Shares $10.36 $22,792.59
VanKampen P A Tax Free
Income Fd., Class A 7.055 Shares $17.28 $ 121.91
TOTAL $23,882.12
Great West Lifeco, Inc.
1st Pfd Series F, 5.9% 17 Shares $22.750 $ 386.75
TOTAL $ 386.75
Cash- Ryan Beck Money
Market
$25.615.42
TOTAL
$25,615.42
Page 3
.>~
..~-----
.
, ..
Commonwealth of Pennsylvania
Treasury Department
Bureau of Unclaimed Property
~(Q) ~YI
AFFIDAVIT AND INDEMNIFICATION AGREEMENT
Robert P. Casey, Jr.
State Treasurer
CLAIM NUMBER 99691359
STATE OF PENNSYLVANIA COUNTY OF cumberland
BEING first duly sworn, James G. Binkley, Administr~ifiiant(s)") deposes and represents as follows:
THAT Claimant(s) resides at
264 Blacksmith Road, Camp Hill, PA 17011
THAT Claimant(s) has made a claim for unclaimed property held by the Treasury Department;
THAT Claimant(s) is unable to present to the Treasury Department, as proof of entitlement to the Unclaimed Property, the
following original property information:
Property ID Property Description Cash Claimed Shares Issue Name Holder
5874463 DIVIDENDS $160.00 0.00 DAIMLERCHRYSLER AG
5916338 REDEMPTION $11.46 0.00 RHONE POULENC SA
because such property described above has been lost, stolen, destroyed, misplaced, or never received and
Claimant, his/her heirs, assigns or successors have not received or enjoyed any benefit from the property or proceeds
therefrom;
THAT Claimant(s), in exchange for payment by the Treasury Department of said claim, agrees to at all times indemnify, save,
defend, and keep harmless the Treasury Department, its employes and representatives, from and against any and all claims,
demands, actions, or suits against them, whether groundless or otherwise, and any and all losses, damages, liabilities, costs
and fees arising out of or in any way connected with the payment of the claim, particularly by reason of a claim for payment to
any third person claiming an ownership interest therein or who may hereafter come into possession of the original security,
regardless of whether such claims, actions, losses, damages, suits or liability arise in whole or in part from the gross
negligence or willful misconduct of the Treasury Department;
THAT Claimant(s) agrees that this Affidavit and Indemnification Agreement shall be construed in accordance with the laws of
the Commonwealth of Pennsylvania; and
THAT Claimant(s) acknowledges and understands that any infonnation and/or documentation supplied with the
claim, if false, will subject Claimant to prosecution under 18 Pa. C.S.~4904, relating to unsworn falsification to
authorities; the conviction of which could subject Claim a prison tenn of' to 0 years nd a fine of up to
$5,000.
BEFORE ME, the undersigned authority, on this day personally appeared Janes G. Binklev .
known to me (or introduced to me by . ), to be the person whose name is
sU,bscribed to the foregoing instrument, and acknowledged so he/she executed the s~JJ1~ for the purposes and
consifW'1ltjon th,rein expressed and SUBSCRIBED AND SWORN TO ME this the :5 I/Pf- day of
-----1.f1 ~ A.D. 20 06 . 1m . _
----:otary Signatur~~ .lJ(jUV\l.0\ ...
Printed Name of Notary:
My Commission Expires:
NOTARY STAMP
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Dana L Wleseman, Notary PtJlIic
Lsm0yn8 Boro, Cunberland ColJ'lly
h\fO:lmmisslon Expires Nov. 15,2008
Member. Pennsylvania Association Of Notaries
*'
SCHEDULE F
JOINTLY-OWNED PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
BINKLEY, BETTY G.
I FILE NUMBER
21 - 05 - 01018
If an asset was made joint within one year of the decedent's date of death, it must be reported on schedule G.
SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIONSHIP TO DECEDENT
James G. Binkley 264 Blacksmith Rd. Son
A Camp Hill, PA 17011
David W. Binkley 103 Foxfire Lane Son
B Lewisberry, PA 17339
Helen G. Zajieck 615 Taney Ave. Sister
C Frederick, MD 21701
JOINTLY OWNED PROPERTY:
see continuation
LETTER DATE ~~SCRIPIIOttt~F PROJlERn DATE OF DEATH %OF DATE OF DEATH
ITEM Include name 0 manclallns I u Ion an l:ian account number
NUMBER FOR JOINT MADE or similar identifying number. Attach deed for jointly-held real VALUE OF ASSET DECO'S VALUE OF
TENANT JOINT INTEREST DECEDENT'S INTEREST
estate.
1 A&C 04/13/1992 Real Estate - 339 Herman Ave. 101,000.00 33.3% 33,633.00
Borough of Lemoyne
Recorded - P/35/663
2 A 07/30/1991 Real Estate - 341 Herman Ave. 80,000.00 50% 40,000.00
Borough of Lemoyne
Recorded - F /35/967
3 A 08/05/1986 Real Estate - 343 Herman Ave. 90,000.00 50% 45,000.00
Borough of Lemoyne
Recorded: B/32/1056
4 B OS/20/1987 Real Estate - 437 Hummel Ave. 92,000.00 50% 46,000.00
Borough of Lemoyne
Recorded: R/32/615
5 A&B 11/21/1988 Real Estate - 447 S. Third St. 224,000.00 33.3% 74,592.00
Borough of Lemoyne
Recorded: R/33/373
6 B&C 01/17/1992 Real Estate - 922 Hummel Ave. 130,000.00 33.3% 43,290.00
Borough of Lemoyne
Recorded: M/35/204
Total of Continuation Schedule(s)
TOTAL (Also enter on line 6, Recapitulation) 439,201.17
*
SCHEDULE F
JOINTLY-OWNED PROPERTY
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
BINKLEY, BETTY G.
I FILE NUMBER
21 - 05 - 01018
If an asset was made joint within one year of the decedent's date of death, it must be reported on schedule G.
JOINTLY OWNED PROPERTY
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
ITEM FOR JOINT MADE In ~Iude name of financial institution and bank account number DATE OF DEATH DECD'S VALUE OF
NUMBER TENANT JOINT or similar identifying number. Attach deed for jointly-held real VALUE OF ASSET INTEREST DECEDENrS~TEREST
e~ ate.
7 C 09/29/1986 Real Estate - 501 Warren St. 149,000.00 50% 74.500.00
Borough of Lemoyne
Recorded: E/32/966
8 C 10/22/1985 Real Estate - 1700 Dighton St. 137,000.00 50% 68,500.00
Borough of Camp Hill
Recorded: 0/31/22
9 C 05/10/1999 300 Shares IBM Common @ 25,038.00 50% 12,519.00
$83.46 per/share
10 D 02/12/1993 Cash - Treasury Department - Bureau of 2,334.34 50% 1,167.17
Unclaimed Property
Claim No. 99758330
Page 2 of Schedule F
*
SCI-EDUI.E F
JOINT ONNERS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
BINKLEY, BETTY G.
FILE NUMBER
21 - 05 - 01018
SURVIVING JOINT TENANT'S) NAME
o John Gentilman, Sr.
ADDRESS
RELATIONSHIP TO DECEDENT
216 Chestnut Street
Kane, PA 16735-1603
Brother
CG\Q) ~
APPRAISAL OF REAL PROPERTY
LOCATED AT:
339 Herman Ave
Deed Book 0035P Page 00663
Lemoyne, PA 17043-1940
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Fonn GA1 - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
Subject Address
Legal Description
City
County
State
Zip Code
Census Tract
Map Reference
Sale Price
Date of Sale
Borrower I Client
Lender
Size (Square Feet)
Price per Square Foot
Location
Age
Condition
Total Rooms
Bedrooms
Baths
Appraiser
Date of Appraised Value
Rnal Estimate of Value
SUMMARY OF SALIENT FEATURES
339 Herman Ave
Deed Book 0035P Page 00663
Lemoyne
Cumberland
PA
17043-1940
42041-0106.00-3
25420
$ NA
NA
NA
The Estate of Betty G. Binkley
1,227
Suburban
106
Avg
6
2
Dennis L. Stover
11-7-05
$ 101,000
Form SSD - 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
File No. 5-1201 R-14
Cumberland
State PA
Zi Code 17043-1940
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to !mil of the following definitions:
[gJ Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without Invoking the Departure Rule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report is QM of the following types:
o Self Contained (A wrltlen report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
rzI Summary (A Wrltlen report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2. 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State CertfiicaUon #:
or State License #:
State:
ExpiraUon Date of Certnication or License:
APPRAISER:
Signature: ~ 1. ~
Name: Dennis L. Stover
Date Signed: 1-16-06
State CertificaUon #: PA Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
ExpiraUon Date of CertnicaUon or License: 6/30/2007
o Did
o Did Not Inspect Property
GEORGE CLAUSER
Form 102 - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
GEORGE CLAUSER
. e o. -
ProDertv Address 339 Herman Ave CitV- Lemovne State PA ZiD Code 17043-1940
Leaal Descriation Deed Book 0035P Paoe 00663 Countv Cumberland
Assessor's Parcel No. 12-22-0822-076 Tax Year 05-06 RE. Taxes $ 803 Soeclal Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occuaant: r l Owner fXI Tenant r l Vacant
Prooertv rinhts aooralsed IX1 Fee Simale r Leasehold PrO/6CtT vne fl PUD I I Condominium IHUDNA onlvl HOAS NA /Mo.
Neiahborhood or Protect Name Lemovne Borouoh Man Reference 25420 Census Tract 42041-0106.00-3
Sale Price S NA Date of Sale NA Descrlntion and S amount of loan charnes/conce~sions to be nald bv seller NA
Lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market SI. Lemovne PA 170
Aooraiser Dennis L. Stover Address P. O. Box 777 Camo Hill PA 17001-0777
Location !J Urban ~ Suburban D Rural Predominant _liln" IImlly houaJ~ Present land uae % Land uae change
Built up o Over 75% cg] 25-75% D Under 25% occupancy PRI AG One family ~ o Not likely [J Likely
$(000) (yrs)
Growth rate o Rapid cg] Stable o Slow cg] Owner ~Low~ 2-4 family ~ r2J In process
Property values r2J Increasing o Stable o Declining C! Tenant 850 Hioh 150 Multi-family ~ To: vacant land to
Demand/supply r2J Shortage 0 In balance [] Over supply r2J Vacant (0-5%) .. Predominant 11III Commercial 5 residential development
Marketina time i>5 Under 3 mos. n 3-6 mos. Ii Over 6 mos. n Vac.lovor5%\ 145 25 Vacant 15
1II0tl: Riel end the recle' composition of thl neighborhood erl not epprelu, factors.
Neighborhood boundaries and characteristics: The subiect neiohborhood consists of Lemoyne Borouah in Cumberland Countv. PA.
Faclars tIlal affect tile marlketability of tile properties in tile neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The orooertv beino valued is located alono the north side of Herman Ave. Shoooino. schools and churches are located within 5-10 minutes of
the orooertv. Full service shoooino is available at the Camo Hill and Caoital Citv malls aooroximatelv 10-15 minutes. Public school students
attend the West Shore School District. Emolovment centers are located in Harrisburo. Camo Hill York and Mechanicsburo.
Market conditions in tile subject neighborhood (including support for tile above conclusions related to the trend of property values, demand/supply, and markeUng time
-- such as data on competitive properties for sale in tile neighborhood, description of tile prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiohborhood are considered moderatelv active with low mortoaoe interest rates beina the orimarv catalyst.
Sales in recent weeks have been moderatelv active. Aooroximatelv 5 houses of various sMes are for sale within 5 miles and are in comoetition
with the subiect. Typical financino for residential orooerties includes 80% to 90% loan 1-3 DOints 5.5-6.5% mortaaae interest rates for uo to 30
I vears. Tvoical marketing time is between 90 and 180 davs.
Projectlntormatlon for PUOs (If applicable) - - Is tile developer/builder in control of tile Home Owners' Association (HOA)? U Yes LJ No
Approximate total number of units in the subject project Approximate total number of units for sale in the subject project
Describe common elements and recreaUonal facilities:
Dimensions From County Records Topography Avo
Site area .12 Acres Comer Lot 0 Yes r2J No Size Ava
Specific zoning classification and description UR Urban Residential Shape Rectanaular
Zoning compliance [?<J Legal 0 Legal nonconforming (Grandfatllered use) D Illegal o No zoning Drainage Ava
Hlmest & best use as imnroved: rX1 Present use n Other use lexolain) View Avo
UtIlities Public OtIler Off-slte Improvements Type Public Private Landscaping Avo
Electricity ~ Street Macadam r2J 0 Driveway Surface NA
Gas r2J CUrb/gutter Concrete r2J 0 Apparent easements None Known
Water cg] Sidewalk Concrete cg] 0 FEMA Special Flood Hazard Area U Yes cg] No
Sanitary sewer ~ Street lights Incandescent ~ R FEMA Zone C Map Date 12/4/1979
Slarm sewer Allev Rear FEMA Man No. 42036100018
Comments (apparent adverse easements, encroachments. special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): There are no
aooarent easements encroachments sneeial assessments, slide areas or illeaal or leaal nonconforming uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units One Foundation Stone Slab 0 Area Sq. Ft. 540 Roof _0
No. of Stories 2 Exterior Walls Aluminum Crawl Space 0 % Finished 31% Ceiling ~ cg]
Type (Det./Att.) Detached Roof Surface FG/Shnof Basement Partial Ceiling Blk tile/Ooen Walls ~ cgJ
Design (Style) Traditional Gutters & Dwnspls. Aluminum Sump Pump None Walls Pan/Stone Floor ~r2J
Existing/Proposed Existina Window Type DblHuna Dampness No Evidence Floor Tile/Concrete None _0
Age (Vrs.) 106 Storm/Screens Screens Settlement No Evidence Outside Entry NA Unknown_ 0
Effective Aoe IYrs. \ 15 Manufactured House No Infestation No Evidence
ROOMS Fover Livino Dinino Kitchen Den Familv Am. Rec. Am. Bedrooms # Batlls Laundrv Otller Area So. Ft.
Basement 1 Stor/Mech 540
Level 1 1 1 1 1 687
Level 2 2 1 540
Rnished area above orade contains: 6 Rooms' 2 Bedrooml51: 1 Batlllsl: 1227 S~ uare Feet of Gross Livino Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Aoors CoWin Ava Type HW Refrigerator 0 None 0 Rreplace(s) # ~ 0 None 0
Walls Plaster/Pan Ava Fuel Gas Range/Oven r2J Stairs 0 Patio Rear r2J Garage # of cars
TrimlFinish Wood Avo Condition Ava Disposal 0 Drop Stair 0 Deck NA 0 Attached NA
Batll Aoor Vinyl Ava COOLING Dishwasher 0 Scuttle cgJ Porch Front cgJ Oetached 1 Car
Batll Wainscot Fiberalass Avo Central NA Fan/Hood 0 Floor C Fence NA 0 Built-In NA
Doors Wood Avo Otller C Fans Microwave l] Heated 0 Pool _ NA R Carpon NA
K~chen Floor: Cot-Ava Condition Ava Washer/Drver n Rnished 14 Drivewav NA
Additional features (special energy efficient Items, etc.): Dwellina aooears to be well maintained with oood housekeeoino.
Condition of tile improvements, depreciation (physical. functional. and external), repairs needed, quality of construction, remodeling/additions, etc.: SUbject is a
sMe dwellino in averaae condition with a car oaraae. Physical: Deoreciation due to aae and condition. Functional: None Extemal: No
adverse locational features noted.
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in tile improvements, on tile site, or in tile
immediate vicinity of tile subject property.: None Known - aooraiser is not aualified to detect such substances. If the house is sold termite and
radon certifications are suaoested. Houses built before 1978 mav contain lead base oain!.
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FII N 5 1201 R 14
Freddie Mac Form 70 6/93
PAGE 1 OF2
Form UA2 - "WlnTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1004 6/93
Comments on Cost Approach (such as, source of cost estimate, site value,
square foot calculation and for HUD, V A and FmHA, the estimated remaining
economic IUe of the property): ''The reoort reouests the
ReDroductlon Cost annroach which recuires the construction of
an exact reolica includino the same materials methods and
workmanship and must include any existing functional
obsolescence. This would be misleadina and makes this method
misleadino. The ReDlacement Cost aDDroach miDht be more
=$ aoorooriate but it renuires reDlacement usino modem materials
.... =$ methods and workmanshiD. Dlus the elimination of anv Dresent
=$ functional deDreciation. This too would be misleadina. and the
. ~$ Cost AoDroach Is therefore misleadina."
COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
27 N. Ninth St. 115 Fifth Ave. 68 Hummel Ave.
Lemovne New Cumberland Lemovne
0.66 miles W 1.58 miles SE 0.26 miles NE
NA Is 109000 . Is 104.900 Is
rtJ S 99.63 rtJl 1$ 111.12 rtJl $ 82.61 rtJl
CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
NA NA NA
DESCRIPTION : +(-)$ Adiust. DESCRIPTION +1-\$ Adiust. DESCRIPTION: +H$ Adjust.
Conventional Conventional Conventional
None Known Sellers HelD -1500 None Known
3/31/05 MT 12 9/29/05 MT 21 9/28/04 MT 2
Suburban Suburban/Sup -5 000 Suburban: Suburban
Fee Simole Fee SimDle' Fee Simole: Fee Simole
.12 Acres .09 Acres .06 Acres .14 Acres
Ava Eoual Eaual: Eaual
Traditional Traditional Traditional: Traditional
AVQ Ava Ava' AVQ
106 76 106 66
AVQ Eaual : Suoerior/Renovat : -5.000 Eaual :
Total: Bdrms: Baths Total : Bdrms ; Baths: Total : Bdrms : Baths: Total : Bdrms : Baths:
6 : 2 : 1 67 3 1.5 -1,500 5: 2 : 1 : 6 : 3 : 1.5 :
1 227 Sa. Ft. 1 094 Sa. Ft : +1 330 944 So. Ft : +2.830 1 294 So. Ft. :
Full Part Finished Full Unfinished Full Part Finished : Partial Unfinished :
RRlLau/Storaoe Storaae/Mech Storaae +2 000 Storaae
Ava Avo Ava Ava
GHW/No CA GHW/No CA GHWlNo CA OHW/No CA
Insulation Insulation: Insulation Insulation
1 Car Detached 1 Car Detached : NA +2 000 1 Car Detached :
Patio Patio Patio Deck/Patio
NA 1 FP -2 000 NA 1 FP
NA NA NA NA
NA NA NA NA
Net Adi. Itotal\ I l + 1XI- ;$ 7170 rX1 + il- :$ 330 r l + rxI- :$
Adjusted Sales Price I... I I I
of Coma arable Is 101830 .1$ 105230 1$ 102230
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): Sales used were all reasonably similar sMe
dwellinas in the same neiahborhood and subiect to reasonably similar amenities. Adiustments were based on market extraction and/or
iudoment. The indicated value ranae on the above arid extends from !G101 830 to $105 230. The indicated market value is estimated to be less
than the UDDer end of the value ranae and at $102 000. Prooertv is currentlv used as a rental with the rent being $650/mo.
. UNIFIRM RESIDENTIAL APPRAISAL REPORT
Summary Report
FileNo 5-1201 R-14
H= $
ESTIMATED SITE VALUE
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:
Dwelling 1,227 Sq. Ft @$ = $
540 Sq. Ft @$ =
Garage/Carport _ Sq. Ft @$
Total Estimated Cost New
Less Physical
Depreciation I
Depreciated Value of Improvements
'As-is' Value of Site Improvements .
INDICATED VALUE BY COST APPROACH
ITEM I SUBJECT
339 Herman Ave
Address Lemovne
Proximitv to Subiect
Sales Price $
Price/Gross livinn Area $
Data and/or
Verification Source
VALUE ADJUSTMENTS
Sales or Financing
Concessions
Date of SalelTime
Location
Leasehold/Fee Simole
Site
View
Desion and Anneal
Qualitv of Construction
Aoe
Condition
Above Grade
Room Count
Gross livino Area
Basement & Finished
Rooms Below Grade
Functional Utilitv
Heatinn/Coolino
Enemv Efficient Items
Garaoe/Caroort
Porch, Patio, Deck,
Fireolacels\ etc.
Fence Pool etc.
Functional
= $
External
106 900
+2 500
-5 000
-1,500
-670
+2 000
-2 000
4670
ITEM
Date, Price and Data
Source, for prior sales
within vear of aooraisal
Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
The subiect is not currentlv offered for sale or under an aareement of sale. No orior sales within three vears.
Inspection
NA
DESCRIPTION
SUBJECT
Not Applicable
COMPARABLE NO. 1
Not Applicable
COMPARABLE NO.2
Not Applicable
COMPARABLE NO.3
Not Applicable
INDICATED VALUE BY SALES COMPARISON APPROACH $
INDICATED VALUE BY INCOIIE APPROACH (if Aoolicable\. Estim~ted MarketR~~i. H.~.. NAH ....iM~. x Gross Rent Multiolier NA ...."'!t
This appraisal is made ~ 'as is' 0 subject to the repairs, alterations, inspections or conditions listed below 0 subject to completion per plans & specifications.
CondiliOlls of Appraisal: If propertY is sold, subiect to satisfactory termite and radon certifications with annraised value based on clear test results.
102000
NA
Final Reconciliation: Insufficient market data was available to process the Income Approach. The Cost Aooroach is considered and used as a
check for this annraisal and tvoicallv sets the UDDer limit of value. The Sales Comoarison ADDroach is deemed most reliable and niven areatest
weiaht.
The purpose of this appraisal is to estimate the market value of the real property that is the subject of 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 Form 439/FNMA form 1004B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DERNED, OFTHE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORn TO BE $ 101.000
APPRAlSE0 I ~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Slanature J.. Sionature
Name Dennis L. Stover Name
Date Reoort Sioned 1-16-06 Date Reoort Sioned
State Certification # PA Certified Residential Real Estate AD State PA State Certification #
Or State License # Certification Number: RL 138906 State PA Or State License #
Freddie Mac Form 70 6/93
o Did 0 Did Not
Inspect Property
PAGE 2 OF 2
Form UA2 - "WinTOTAL' appraisal software by a la mode, inc. -1-8DD-ALAMODE
Fannie Mae Form 1004 6-93
State
State
@
(Q)~~
APPRAISAL OF REAL PROPERTY
LOCATED AT:
341 Herman Ave
Deed Book 0035F Page 00967
Lemoyne, PA 17043-1940
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne. PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1 - "WinTOTAL' appraisal software by a la mode, Inc. -1.800.ALAMODE
SUMMARY OF SALIENT FEATURES
Subject Address 341 Herman Ave
Legal Description Deed Book 0035F Page 00967
City Lemoyne
County Cumberland
State PA
Zip Code 17043-1940
Census Tract 42041-0106.00-3
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower I Client NA
Lender The Estate of Betty G. Binkley
Size (Square Feet) 1,231
Price per Square Foot $
Location Suburban
Age 106
Condition Avg
T alai Rooms 6
Bedrooms 3
Baths 1
Appraiser Dennis L. Stover
Oate 01 Appraised Value 11-7-05
Final Estimate of Value $ 80,000
Form SSD - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
File No. 5-1201 R-15
Cumberland
Slale PA
Zi Code 17043-1940
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to .llD.e of the following definitions:
[8J Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without Invoking the Departure Rule.)
l~J Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report is QI1lI of the following types:
o Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
iZI Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
[J Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisa~ and Report Identification
Note any departures from Standards Rules 1-2,1-3,1-4, plus any USPAP-related issues requiring disclosure:
-.
APPRAISER:
Signature: U- 1. ~
Name: Dennis L. Stover
Dale Signed: 1-16-06
State Certification #: PA Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
o Did
I] Did Not Inspect Property
GEORGE CLAUSER
Form 102 - 'WinTOTAL' appraisal software by a la mode, Inc. -1-800-ALAMODE
GEORGE CLAUSER
- e o. - -
Pronerlv'Address 341 Herman Ave City Lemovne State PA ZiD Code 17043-1940
lima! Descrintion Deed Book 0035F Paae 00967 Countv Cumberland
Assessor's Parcel No. 12-22-0822-075 Tax Year 05-06 R.E. Taxes $ 740 Sneclal Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occunan!: r l Owner IX1 Tenant r l Vacant
Pronerlv riahts anoraised I'XI Fee Simnle r Leasehold Proiect T VDe l PUD r l Condominium IHUDNA onM HOA S NA /Mo.
Neiohborhood or Proiect Name Lemovne Borouah Man Reference 25420 Census Tract 42041-0106.00-3
Sale Price S NA Date of Sale NA Oescrintion and S amount 01 loan charoes/concesslons to be naid bu seller NA
Lender/Client The Estate of Beltv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St. Lemovne PA 170.
Annraiser Dennis L. Stover Address P. O. Box 777 Camp Hill PA 17001-0777
Location U Urban lZJ Suburban o Rural Predominant _~nC'r family hOU8J~ Present land use % Land use change
Built up o Over 75% ~ 25-75% [J Under 25% occupancy PRI AG One lamily --.ZL o Not likely o Likely
$(000) (yrs)
Growth rate o Rapid ~ Stable D Slow ~ Owner 70 Low~ 2-4family ~ ~ In process
Property values ~ Increasing o Stable o Declining D Tenant 850 Hioh 150. Multi-family ~ To: vacant land to
Demand/supply ~ Shortage L j In balance D Over supply ~ Vacant (0-5%) .. Predominant I!IIlliI Commercial 5 residential develonment
Mar1<etino time r.><:i Under 3 mos. n 3-6 mos. n Over 6 mos. n Vac.lover 5%\ 145 25 Vacant 15
late: Rece end the reclel composition of the neighborhood ere not epprel.e' factors.
Neighborhood boundaries and characteristics: The subiect neiahborhood consists of Lemovne Borouah in Cumberland County. PA.
Factors that affect the mar1<etability 01 the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to mar1<et, etc.):
The orooertv beina valued is located alona the north side of Herman Ave. Shoooina. schools and churches are located within 5-10 minutes of
the orooertv. Full service shoooina is available at the Camo Hill and Caoital City malls aooroximatelv 10-15 minutes. Public school students
attend the West Shore School District. Emolovment centers are located in Harrisbura. Camp Hill York and Mechanicsburo.
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 sale in the neighborhood, description of the prevalence 01 sales and financing concessions, etc.):
Market conditions in the subiect neiahborhood are considered moderatelv active with low mortaaae interest rates beina the orimarv catalvst.
Sales in recent weeks have been moderatelv active. Approximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetition
with the subiect. Tvoical financina for residential properties includes 80% to 90% loan 1-3 oaints 5.5-6.5% mortaaae interest rates for uo to 30
I vears. Tvoical marketina time is between 90 and 180 davs.
Projecllnformatlon for PUO. (K applicable) - - Is the developer/bullder in control of the Home Owners' Association (HOA)? o Yes o No
Approximate total number of units in the subject project Approximate total number of units for sale in the subject project
Describe common elements and recreational facilities:
Dimensions From Countv Records Topography Ava
Site area .06 Comer Lot 0 Yes ~ No Size Ava
Specnic zoning classification and description UR Urban Residential Shape Rectanaular
Zoning compliance ~ Legal IX1LJ Legal nonconlning (Grandfathered use) U Illegal o No zoning Drainage Ava
Hiohest & best use as Imoroved: Present use ' Other use (exnlain) View Ava
UtlIIIIes Public Other Off-sltelmprovements Type Public Private Landscaping Ava
Electricity ~ 100 AMP Street Macadam [gj 0 Driveway Surface NA
Gas ~ Curb/gutter Concrete ~ 0 Apparent easements None Known
Water ~ Sidewalk Concrete ~ 0 FEMA Special Flood Hazard Area DYes ~ No
Sanitary sewer ~ Street lights Incandescent :8J [J FEMA Zone C Map Date 12/4/1979
Storm sewer Allev Rear r.><:i n FEMA Man No. 4203610001 B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): There are no
aooarent easements encroachments soecial assessments slide areas or iIIeaal or leaal nonconforrnina uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. 01 Units One Foundation Stone Slab 0 Area Sq. Ft. 616 Roof _0
No. of Stories 2 Exterior Walls Insulbrick Crawl Space 0 % Finished 0% Ceiling ~ ~
Type (Det/Att.) AttaChed Roof Surface FG/Shnal Basement 100% Ceiling Ooen Walls ~ ~
Design (Style) Trad Semi-D Gutters & Dwnspts. Aluminum Sump Pump None Walls Stone/Brick Floor ~~
Existing/Proposed Existina Window Type DblHuna Dampness No Evidence Floor Concrete None _ 0
Age (Yrs.) 106 Storm/Screens Screens Settiement No Evidence Outside Entry Yes Unknow~ 0
Effective Aoe lYrs.) 15 Manufactured House No Infestation No Evidence Floor Drain
ROOMS Fover Livino Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area So. Ft.
Basement 616
Level 1 1 1 1 616
Level 2 3 1 616
Rnished area above orade contains: 6 Rooms' 3 Bedroomls\' 1 Bath s): 1232 Souare Feet of Gross Livinn Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. A TIlC AMENITIES CAR STORAGE:
Floors CoWin Ava Type Steam Refrigerator [J None 0 Rreplace(s) # ~ [J None [J
Walls Plaster Ava Fuel Gas Range/Oven ~ Stairs ~ Patio NA 0 Garage # 01 cars
Trim/Finish Wood Ava Condition Ava Disposal n Drop Stair 0 Deck NA n Attached NA
'-.J
Bath Roor VinYl Ava CODLING Dishwasher 0 Scuttie 0 Porch Front ~ Detached NA
Bath Wainscot Fiberalass Ava Central NA Fan/Hood C Floor ~ Fence NA 0 Built-In NA
Doors Wood Ava Other NA Microwave Heated C Pool NA H Carport NA
Klchen Floor: Vinvl-Ava Condition NA Washer/DrYer F Finished n Drivewav NA
Additional features (special energy efficient items, etc.): 40 Gallon aas hot water heater.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality 01 construction, remodeling/additions, etc.: Subiect Is a
traditional semi-detached stvle dwellina In averaae condition. Phvsical: Deoreciation due to aae and condition. Functional: None External:
No adverse locational features noted.
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 01 the subject property.: None Known - aooraiser is not aualified to detect such substances. If the house is sold termite and
radon certifications are suaaested. Houses built before 1978 mav contain lead base oaint.
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FII N 5 1201 R 15
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1004 6/93
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FIleNo 51201 R 15
011..... !loWIon . -
ESTlUATrnSITE VAlUE ..= $ Comments on Cost Approach (such as, source 01 cost estimate, stte value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square loot calculation and lor HUD, VA and FmHA, the estimated remaining
Dwelling 1,231 Sq. Ft. @$ = $ economic Iile 01 the property): "The report reauests the
616 Sq. Ft. @$ = ReDroductlon Cost aooroach which reauires the construction of
= an exact reolica includina the same materials methods and
Garage/CiI/llort _ Sq. Ft. @$ = workmanshin and must include anv existina functional --
T ota! Estimated Cost New ...= $ obsolescence. This would be misleadina and makes this method
Less Physical Functional External misleadinn. The ReDlacement Cost aooroach miaht be more
Depreciation I I =$ annronriate but it renuires reolacement usina modern materials
Depreciated Value 01 Improvements =$ methods and workmanshio. olus the elimination of anv present
'As-is' Value 01 Stte Improvements =$ functional deoreciation. This too would be misleadina. and the
INDICATED VALUE BY COST APPROACH ..... ~S Cost Annroach Is therefore misleadina."
ITEM I SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
341 Herman Ave 220 Bosler Ave. 903 Bridge St. 420 Reno St.
Address Lemovne Lemovne New Cumberland New Cumberland
Proximitv to Sublect 0.18 miles N SE S
Sales Price I~ NA Is 80 000 l!t 80 900 Is 90.005
Prir.llJGross Livinn Area Is ltJl S 49.84 ltJl l!t 60.55 ltJl $ 69.23 ltJ I
Data and/or Inspection CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
Verification Source NA NA NA NA
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION : + ( -\$ Adlust. DESCRIPTION : + H$ Adjust. DESCRIPTION : + ( -)$ Adjust.
Sales or Anancing Conventional Conventional Conventional
Concessions None Known None Known None Known
Date 01 Salemme 11/15/05 MT 8 : 2/22/05 MT 202 +2 500 8/4/05 MT 31 :
Location Suburban Suburban Suburban Suburban :
Leaseholri/Fee Simnle Fee Simole Fee Simole Fee Simole : Fee Simole :
Stte .06 .18 Acres .05 Acres .12 Acres :
View Ava Enual Enual : Eaual ,
Desinn and Anneal Trad Semi-Det Trad Semi-Det Trad Semi-Det Trad Semi-Det
Qualitv 01 Construction Ava Ava Ava Avn
Ane 106 61 -2 500 94 76 : -2 500
Condition Ava Eaual Eaual : Eaual :
Above Grade Total : Bdrms: Baths Total: Bdrms ' Baths ' Total : Bdrms : Baths : Total : Bdrms : Baths :
Room Count 6 : 3 : 1 6 3 1 5 3 : 1.5 -1,000 7 : 4 1 :
Gross Livino Area 1 231 Sn. Ft. 1 605 So. Fl. : -3740 1 336 Sn. Ft. : -1 050 1 300 Sa. Ft. : -690
Basement & Anished Full Unfinished Full Unfinished Full Unfinished Full Unfinished
Rooms Below Grade Storaae/Mech Storaae/Mech Storaae/Mech Storaae/Mech
Functional Utllitv Avo Ava Ava : Ava :
Heatinn/Coolinn Gas SteamfNA OHW/NA GFW AfNA : Oil SteamfNA :
Enernv Efficient Items Insulation Insulation Insulation : Insulation :
Garane/Camort NA NA NA : NA :
Porch, Patio, Deck, Porch End Rear Porch Porches Porch/Patio
Arenlace(s\ etc. NA NA NA Woodstove -1,000
Fence Pool etc. NA NA NA : NA :
NA NA NA NA :
Net Adi. (total\ r l + rxI - :s 6240 fX1+ r l- :$ 450 r l + rxI- :$ 4.190
Adjusted Sales Price Is I Is
01 Camnarable 73 760 81 350 85.815
Comments on Sales Comparison (including the subject property's compatibiltty to the neighborhood, etc.): Sales used were all reasonablv similar stvle
dwellinns in the same neiahborhood and subiect to reasonablv similar amenities. Adiustments were based on market extraction and/or
I iudnment. The indicated value ranne on the above arid extends from $73 760 to $85 815. The indicated market value is estimated to be less
than the uooer end of the value ranae and at $80 000. ProDertv is currentlv beinn used as a rental with the rent beina $645/mo.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data Not Applicable Not Applicable Not Applicable Not Applicable
Source, for prior sales
within vear of annraisal
Analysis of any current agreement 01 sale, option, or listing of subject property and analysis of any prior sales of subject and comparables wtthin one year of the date 01 appraisal:
The subiect is not currentlv offered for sale or under an aareement of sale. No orior sales within three vears.
INDICATED VALUE BY SALES COMPARISON APPROACH ......... .-.._------.. -.-.----. ......... $ 80 000
INDICATED VALUE BY INCOME APPROACH m Annlicablel Estimated Market Rent ~ NA /Mo. x Gross Rent Multinlier NA ,~ NA
This appraisal is made ~ 'as is' U subject to the repairs, alterations, inspections or conditions listed below U subject to completion per plans & specifications.
Conditions of Appraisal: If nronertv is sold subiect to satisfactorY termite and radon certifications with annraised value based on clear test results.
Anal Reconciliation: Insufficient market data was available to orocess the Income Approach. The Cost Approach is considered and used as a
check for this annraisal and tvoicallv sets the uooer limit of value. The Sales Comoarison AODroach is deemed most reliable and aiven areatest
weinht.
The purpose of this appraisal is to estimate 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 Form 439/FNMA form 1004B (Revised 6-93).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OFTHIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 80.000
APPRAlSE0 J. ~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Sianature Sianature o Did o Did Not
Name Dennis L. Stover Name Inspect Property
Date ReDort Sianed 1-16-06 Date ReDort Sianed
State Certification # PA Certified Residential Real Estate Appraiser State P A State Certification # State
Or State License # Certification Number: RL 138906 State P A Or State License # State
freddie Mac Form 70 6/93
PAGE 2 OF 2
Form UA2 - "Win TOTAL" appraisal software by a la mode, inc. - 1.800.ALAMODE
Fannie Mae Form 1004 6-93
., .
@@
APPRAISAL OF REAL PROPERTY
LOCATED AT:
343 Herman Ave
Deed Book 00328 Page 01056
lemoyne, PA 17043-1940
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number Rl 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GAl - 'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
SUMMARY OF SALIENT FEATURES
Subject Address 343 Herman Ave
Legal Description Deed Book 0032B Page 01056
City Lemoyne
County Cumberland
State PA
Zip Code 17043-1940
Census Tract 42041-0106.00-3
Map Reference 25420
Sale Price $ NA
Date 01 Sale NA
Borrower I Client NA
Lender The Estate of Betty G. Binkley
Size (Square Feet) 1,231
Price per Square Foot
Location Suburban
Age 106
Condition Avg
Total Rooms 6
Bedrooms 3
Batlls
Appraiser Dennis L. Stover
Date of Appraised Value 11-7-05
Rnal Estimate of Value
$ 90,000
Form SSD - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
Rle No. 5-1201 R-16
Cumberland
State PA
Zi Code 17043-1940
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to QDft of the following definitions:
t2J Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without invoklng the Departure Aule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoklng the
Departure Aule.)
This report is QM of the following types:
o Self Contained (A written report prepared under Standards Aule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
[Sj Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetennined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Unifonn Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property,
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2,1-3,1-4, plus any USPAP-related issues requiring disclosure:
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
Slate Certification #:
or Stale License #:
State:
Expiration Date of Certification or License:
APPRAISER:
Signature: ~ J. ~
Name: Dennis L. Stover
Date Signed: 1-16-06
State Certification #: PA Certified Residential Real Estate Appraiser
or Slate License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or license: 6/30/2007
o Did
o Did Not Inspect Property
GEORGE CLAUSER
Form 102 - 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
GEORGE CLAUSER
. e o.
Prooertv Address 343 Herman Ave City Lemovne State PA Zin Cnde 17043-1940
leoal Descriotion Deed Book 0032B Paoe 01056 Countv Cumberland
Assessor's Parcel No. 12-22-0822-074 Tax Year 05-06 R.E. Taxes $ 992 Soeelal Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occuoant: r I Owner -!'XI Tenant -il Vacant
Prooertv riohts ann raised r5<1 Fee Simole I leasehold ProiectT voe I 1 PUD I I Condominium iHUDNA onlv\ HOA $ NA /Mo.
Neiahborhood or Proiect Name Lemovne Borouoh Man Reference 25420 Census Tract 42041-0106.00-3
Sale Price S NA Date of Sale NA OescriDllon and S amounl of loan chames/concesslons 10 be oaldMseller NA
lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St. Lemovne PA 170.
Aooraiser Dennis L. Stover Address P. O. Box 777 Camo Hill PA 17001-0777
location U Urban ~ Suburban U Rural PredomInant ~nlf family hOUSI~ Present land use % Land use change
PRI AG
Built up [lOver 75% [g] 25-75% o Under 25% occupancy $(000) (yrs) One family ~ o Not likely o likely
Growth rate o Rapid [g] Stable C Slow o Owner 70 low ~ 2-4 family ~ o In process
Property values [g] Increasing o Stable C Declining o Tenant 8.50 Hioh 150 Multi-family ~ To: vacant land to
Demand/supply [g] Shortage 0 In balance 0 Over supply ~ Vacant (0-5%) 11II111 Predominant .ill Commercial 5 residential develooment
Markelino lime Ri Under 3 mos. n 3-6 mos. n Over 6 mos. "VaeJover5%\1 145 25 Vacant 15
lote: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics: The subiect neiohborhood consists of Lemovne Borouoh in Cumberland County. PA.
Factors that aflect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The orooertv baina valued is located alona the north side of Herman Ave. Shoooina schools and churches are located within 5-10 minutes of
the orooertv. Full service shoooino is available at the Camo Hill and Caoital City malls annroximatelv 10-15 minutes. Public school students
attend the West Shore School District. Emplovment centers are located in Harrisbura Camo Hill York and Mechanicsbura.
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 sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiohborhood are considered moderatelv active with low mortaaae interest rates beino the orimarv catalvst.
Sales in recent weeks have been moderatelv active. Aooroximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetition
with the subiect. Tvoical financina for residential orooerties includes 80% to 90% loan 1-3 ocints 5.5-6.5% mortaaae interest rates for uo to 30
vears. Tvoical marketina time is between 90 and 180 davs.
Project Information for PUDs (n applicable) - -Is the developer/bUllder in control of the Home Owners' Association (HOA)? o YesfJ No
Approximate total number of unns in the subject project -- Approximate total number of units for sale in the subject project
Describe common elements and recreationalfacililies:
Dimensions From CountV Records Topography AVQ
Site area .06 Comer lot 0 Yes [g] No Size Ava
Specific zoning classification and description UR Urban Residential Shape Rectanaular
Zoning compliance 0 Legal 0 Legal nonconforming (Grandfathered use) 0 Illegal U No zoning Drainage Ava
HllIhes! & best use as imnmved: RI Present use n Other use lexnlain1 View ~
UtIlities Public Other Otf-slta Improvements Type Public Private Landscaping AVQ
Electricity ~ 100 AMP Street Macadam [g] ~I Driveway Surface NA
U
Gas 0 Curb/gutter Concrete [g] 0 Apparent easements None Known
Water [8] Sidewalk Concrete r8J [] FEMA Special Flood Hazard Area [J Yes [g] No
Sanitary sewer ~ Street lights Incandescent r8J R FEMA Zone C Map Date 12/4/1979
Storm sewer AIIev Rear !'XI FEMA Man No. 4203610001 B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): There are no
aooarent easements encroachments scacial assessments. slide areas or illeaal or leaal nonconforminQ uses known.
GENERAl DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units One Foundation Stone Slab 0 Area Sq. Ft. 616 Roof _0
No. of Slories 2 Exterior Walls Insulbrick Crawl Space 0 % Finished 0% Ceiling ~ IZI
Type (Det) Att.) Attached Roof Surface FG/Shnal Basement 100% Ceiling Ooen Walls ~ 0
Design (Style) Trad Semi-D Gutters & Dwnspts. Aluminum Sump Pump None Walls Stone/Brick Floor ~._~
Existing/Proposed Existinn Window Type DblHuna Dampness No Evidence Floor Concrete None _0
Age (Yrs.) 106 Storm/Screens Screens Settlement No Evidence Outside Entry Yes UnknowfL- 0
Effective Aae (Yrs. \ 15 Manufactured House No Infestation No Evidence Floor Drain
ROOMS Fover livinn Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths laundrY Other Area Sa. Ft.
Basement 616
level 1 1 1 1 616
level 2 3 1 616
Anished area above orade contains: 6 Rooms' 3 Bedroomlsl' 1 Bath sl' 1232 Souare Feet of Gross livino Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENI1lES CAR STORAGE:
Roors CoWin AVQ Type Steam Refrigerator 0 None iD Fireplace(s) # ~ 0 None 0
Walls Plaster Ava Fuel Gas Range/Oven l'8J Stairs [g] Palio ~_ 0 Garage # of cars
Trim/Finish Wood Ava Condition Avo Disposal 0 Drop Stair 0 Deck NA 0 Attached NA
Bath Floor Vinvl Ava COOLING Dishwasher [J Seunle 0 Porch Front IZJ Detached 1 Car
Bath Wainscot FiberQlass Ava Central NA Fan/Hood 0 Floor IZJ Fence NA 0 Built-In NA
Doors Wood Ava Other NA Microwave 0 Heated 0 Pool NA 0 Carport NA
Kitchen Floor: Vinvl-Avn Condition NA Washer/l)rver n Finished n r Drivewav NA
Additional features (special energy efficient nems, etc.): 40 Gallon aas hot water heater.
Con~~on of the i~provements, depreciation (~hysical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Subject is a
tradlttonal semI-detached sMe dwelhna in averaoe condition. Phvsical: Deoreciation due to aae and condition. Functional: None External:
No adverse locational features noted.
~dvers~ envir?nmental conditions (such as, but not limned to, hazardous wastes, toxic substances, etc.) present in the improvements, on the sne, or in the
Immediate VI~lnity ~f the sublect property.: None Known - aooraiser is not Qualified to detect such substances. If the house is sold termite and
radon certIfications are suoaested. Houses built before 1978 may contain lead base oaint.
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FlI N 5 1201 R 16
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - "Win TOTAL" appraisal software by a la mode, inc. - 1-BOO-ALAMODE
Fannie Mae Form 1004 6/93
. ~
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
FileNo 5-1201 R 16
u . -
ESTIMATED SITE VALUE . .= $ Comments on Cost Approach (such as, source of cost estimate, site value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square foot calculation and lor HUD, VA and FmHA, the estimated remaining
Dwelling 1,231 Sq. Ft @$ = $ economic me of the property): "The report reauests the
616 Sq. Ft. @$ = ReDroductlon Cost approach which reauires the construction of
= an exact renlica includina the same materials methods and
Garage/Carport ~ Sq. Ft @$ = workmanshio and must include anv existina functional
Total Estimated Cost New.. . = $ obsolescence, This would be misleadino and makes this method
Less Physical Functional Extemal misleadina. The Replacement Cost aDDroach miaht be more
Depreciation I I =$ appropriate but it reauires replacement usina modern materials
Depreciated Value ollmprovemenls ...... =$ methods and workmanshio olus the elimination of any nresent
'As-is' Value of Site Improvements =$ functional deoreciation. This too would be mlsleadino. and the
INDICATED VAlUE BY COST APPROACH ..,$ Cost AoDroach Is therefore misleadina."
ITEM I SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
343 Herman Ave 420 Reno 51. 903 Bridge St. 220 Bosler Ave.
Address Lemovne New Cumberland New Cumberland Lemovne
ProximitY to Subillct 1.69 miles SE 1.33 miles SE 0.18 miles N
Sales Price Is NA 1$ 90 005 Is 80 900 l!t 80 000
Price/Gross Livino Area $ rP$ 69.23 rP I !t 60.55 rtJ $ 49.84 rtJ I
Data and/or Inspection CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
Verification Source NA NA NA NA
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + ( -1$ Adlust. DESCRIPTION : +( -)$ Adiust. DESCRIPTION : +1-1$ Adjust.
Sales or Financing Conventional Conventional Conventional
Concessions None Known None Known None Known
Date of Salemme 8/4/05 MT 31 2/22/05 MT 202 +2 500 11/15/05 MT 8 :
Location Suburban Suburban Suburban : Suburban :
LeaseholdlFee SimDle Fee Simole Fee Simole Fee Simple : Fee Simole :
Site .06 .12 Acres .05 Acres .18 Acres
View Ava Eoual Eoual Eaual
Desion and AnllP.al Trad Semi-Det Trad Semi-Det ; Trad Semi-Det Trad Semi-Det
QualitY of Construction Ava Avo Ava Ava
Aoe 106 76 -2 500 94 61 : -2,500
Condition Avo Eaual EQual : Eoual :
Above Grade Total : Bdrms: Baths Total : Bdrms : Baths : T olal : Bdrms : Baths: Total : BdrmS : Baths:
Room Count 6 : 3 : 1 7 : 4 1 5 : 3 1.5 -1,000 6 3 1 :
Gross Livino Area 1 231 So. Ft 1 300 So. Ft -690 1 336 So. Ft. : -1 050 1 605 Sn. Ft. : -3740
Basement & Finished Full Unfinished Full Unfinished Full Unfinished Full Unfinished
Rooms Below Grade Storaoe/Mech Storaoe/Mech StoraQe/Mech Storaae/Mech
Functional UtilitY Avo AVQ Avo : Ava :
HeatinolCoolinn Gas SteamlNA Oil Steam/NA GFWAlNA : OHW/NA :
Enernv Efficient Items Insulation Insulation Insulation : Insulation :
Garane/Camort 1 Car Detached NA +2 000 NA : +2 000 NA : +2 000
Porch, Patio, Deck, Porch/Patio Porch/Patio Porches : End Rear Porch :
FireDlacelsl etc. NA Woodstove -1 000 NA " NA
Fence Pool etc. NA NA NA NA :
ADartment over oaraoe Aot. over oaraae NA +5 000 NA +5 000 NA : +5 000
Net Adi. Itota/l LX1+ r l- :$ 2810 5<1+ r l- :$ 7450 5<1+ r l- :$ 760
Adjusted Sales Price l 1$ I
of Comnarable 92815 88,350 80 760
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): Sales used were all reasonablv similar sMe
dwellinQs in the same neiQhborhood and subiect tQ reasonablv similar amenities. Adiustments were based on market extraction and/or
iudament. The indicated value ranae on the above orid extends from $80 760 to $92 815. The indicated market value is estimated to be less
than the UDDer end of the value ranoe and at $90 000. PrQoertv is currentlv beino used as a rental with the rent beina $695/mo. There is an
aoartment over the naraae and the rental is $445/mo.
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data Not Applicable Not Applicable Not Applicable Not Applicable
Source, for prior sales
within vear of ~nnraisal
Analysis of any current agreement 01 sale, option, or listing 01 subject property and analysis of any prior sales of subject and comparables within one year of the date 01 appraisal:
The subiect is not currentlv offered far sale or under an aareement of sale. No Drior sales within three vears.
INDICATED VALUE BY SALES COMPARISON APPROACH ----.... $ 90 000
INDICATED VALUE BY INCOME APPROACH /if AODlicablel Estimated Market Rent S NA IMo. x Gross Rent Multinlier NA ~t' NA
This appraisal is made ~ 'as is' lJ subject to the repairs, alterations, inspections or conditions listed below U subject to completion per plans & specifications.
Conditions of Appraisal: If oroDertv is sold subiect to satisfactorv termite and radon certifications with aooraised value based on clear test results.
Final Reconciliation: Insufficient market data was available to process the Income Aooroach. The Cost Approach is considered and used as a
check for this anoraisal and tvoicallv sets the uooer limit of value. The Sales Comoarlson Annroach is deemed most reliable and oiven createst
weiaht.
The purpose 01 this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, contingent
and limiting conditions, and market value delinition that are stated In the attached Freddie Mac Form 439/FNMA form 1DD4B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 90,000
APPHAlSE~ 1. S'~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Sillnature Sionature o Did [] Did Not
Name Dennis L. Stover Name Inspect Property
Date Reoort SiGned 1-16-06 Date ReDort Sioned
State Certification # PA Certified Residential Real Estate Appraiser State PA State Certification # State
Or State license # Certification Number: RL 138906 State P A Or State license # State
Freddie Mac Form 70 6/93
PAGE 2 OF2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. -1-BOD-ALAMODE
Fannie Mae Form 1004 6-93
APPRAISAL OF REAL PROPERTY
LOCATED AT:
437 Hummel Ave
Deed Book 0032R Page 00615
Lemoyne, PA 17043-1955
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart. & Weidner. P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1- 'WinTOTAL" appraisal software by a la mode, inc. -1-BOO-ALAMODE
GEORGE CLAUSER
UNIFORM RESIDENTIAL APPRAISAL REPORT
..
Summary Report
lI!rIv Desmlntlon FileNo. 5-1201 R-9
Pronertv Address 437 Hummel Ave Cltv Lemovne State PA ZiD Code 17043-1955
Lenal oescrlDtion Deed Book 0032R Paae 00615 County Cumberland
Assessor's Parcel No. 12-21-0265-234 Tax Year 05-06 R.E. Taxes $ 1 122 Soeclal Assessments $ NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occuoant: r j Owner I.XI Tenant n Vacant
Prooertv rlohts aODraised LXI Fee Simale I Leasehold Proiect Tvne 1-1 PUD rl Condominium (HUDNA onlvl HOA $ NA /Mo.
Nelnhborhood or Proiect Name Lemovne Borouah MaD Reference 25420 Census Tract 42041-0106.00-3
Sale Price $ NA Date of Sale NA DescrlDllon and $ amount of loan chames/concesslons 10 be oald bv seller NA
Lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St. Lemovne PA 170.
AoDraiser Dennis L. Stover Address P. O. Box 777, Camo Hill PA 17001-0777
Location DUrban ~ Suburban U Rural Predomlnent _~!IC'Eefariilly hOUSI'E9 Preeenlland uee % Land uee change
PRI AG
Built up DOver 75% fZI 25-75% o Under 25% occupancy $(000) (yrs) One family -.JL o Not likely o Likely
Growth rate o Rapid fZI Stable o Slow [2:J Owner 70 Low ~ 2-4 family ~ [2:J In process
Property values [2:J IncreasIng o Stable o Declining o Tenant 850 Hinh 150 Multi-family ~ To: vacant land to
Demand/supply fZI Shortage 0 In balance 0 Over supply fZI Vacant (0-5%) IIR Predominantll'llll Commercial 5 residential develoomenl
Marketinn time Ri Under 3 mos. n 3-6 mos. Fi Over 6 mos. Fi Vac.lover 5%\ 145 25 Vacant 15
Note: Race and the racial composition of the neighborhood are not appraisal factors_
Neighborhood boundaries and characteristics: The subiect neiahborhood consists of Lemovne Borouah in Cumberland County. PA.
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The orooertv beina valued is located alona the north side of Hummel Ave. Shoooina schools and churches are located within 5-10 minutes of
the orooertv. Full service shoooina is available at the Camo Hill and Caoital City malls aooroximatelv 10-15 minutes. Public school students
attend the West Shore School District. Emolovment centers are located in HarrisbUrG. Camo Hill York and Mechanicsbura.
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 sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiahborhood are considered moderatelv active with low mortaaae interest rates beina the nrimarv catalvst.
Sales in recent weeks have been moderatelv active. Aooroximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetition
with the subiect. Tvoical financina for residential orooerties includes 80% to 90% loan 1-3ooints 5.5-6.5% mortaaae interest rates for UP to 30
vears. Tvoical marketina time is between 90 and 180 davs.
Project Information for PUDs (If applicable) - -Is the developer/builder in control of the Home Owners' Association (HOA)? DYes [J No
Approximate total number of units in the subject project Approximate total number of units for sale in the subject project
Describe common elements and recreational facilities:
Dimensions From Countv Records Topography Ava
Site area .06 Acres Comer Lot 0 Yes fZI No Size Ava
Spec~ic zoning classification and description UR Urban Residential Shape Rectanaular
Zoning compliance [2:J Legal 0 Legal nonconforming (Grandfathered use) 0 Illegal o No zoning Drainage Ava
Hlohest & best use as Imnroved: r>a Present use n Other use (exnlainl View Ava
Utilities Public Other 0tI...1te Improvements Type Public Private Landscaping Ava
Electricity t8J 100 AMP Street Macadam fZI 0 Driveway Surface NA
Gas [2:J Curb/gutter Concrete fZI 0 Apparent easements None Known
Water fZI Sidewalk Concrete fZI 0 FEMA Special Rood Hazard Area DYes fZI No
Sanitary sewer ~ Street lights Incandescent ~ 0 FEMA Zone C Map Date 12/4/1979
Storm sewer Allev Rear n FEMA MaD No. 4203610001 B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): There are no
aODarent easements encroachments soecial assessments slide areas or illeaal or leaal nonconformina uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units One Foundation StonelBlk Slab 0 Area Sq. Ft. 350 Roof _0
No. of Stories 2.5 Exterior Walls Aluminum Crawl Space 0 % Rnished 0% Ceiling ~ fZI
Type (DetlAtt.) Attached Roof Surface FG/Shnal Basement Partial Ceiling Doen Walls ~ fZI
Design (Style) Traditional Gutters & Dwnspts. Aluminum Sump Pump None Walls Stone/Blk Floor ~fZ1
Existing/Proposed Existina Window Type DblHuna Dampness No Evidence Floor Concrete None _ 0
Age (Yrs.) 76 Storm/Screens Screens Settlement No Evidence Outside Entry None UnknoWD_ D
Effective Aoe lYrs.1 15 Manufactured House No Infestation No Evidence Floor Drain
ROOMS Fover Livino Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area Sa. Ft.
Basement Area Stor/Mech 350
Levell 1 1 1 630
Level 2 3 1 630
Rnished area above orade contalns: 6 Rooms' 3 Bedroom/sl: 1 Bath/sl: 1,260 Souare Feet of Gross L1vino Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Roors WoodNinvl Ava Type FWA Refrigerator D None 0 Fireplace(s) # ~ 0 None [2:J
Walls Plaster Ava Fuel Oil Range/Oven fZI Stairs fZI Patio NA [J Garage # of cars
Trim/Finish Wood Avo Condition Ava Disposal n Drop Stair 0 Deck NA 0 Attached NA
Bath Floor Vinvl Ava COOLING Dishwasher 0 Scuttle 0 Porch Front [g] Detached NA
Bath Wainscot Ceramic Tile Ava Central NA Fan/Hood 11 Floor [2:J Fence NA 0 Built-In NA
Doors Waad Ava Other NA Microwave EJ Heated R Pool NA 0 Carport NA
Condition NA WasherlDrver [I Finished I Drivewav NA
Additional features (special energy efficient items, etc.): Dwelling appears 10 be in averaae condition.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Subiect is a
traditional stvle semi-detached dwelling in averane condition. Phvsical: Deoreciation due to aae and condition. Functional: None Extemal:
No adverse locational features noted.
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.: None Known - aooraiser is not aualified to detect such substances. If the house is sold termite and
radon certifications are suaaested. Houses built before 1978 may contain lead base "aint.
Freddl8 Mac Form 70 6193
PAGE 1 OF 2
Form UA2 - 'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
Fannie Mae Form 1004 6193
V 18110" !:..lIon e o.
I ~TIMATED SITE VALUE. .....-- - .. - . . . . . - - . . .. . ----~ $ Comments on Cost Approach (such as, source of cost estimate, site value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square foot calculation and for HUD, VA and FmHA, the estimated remaining
Dwelling 1,260 Sq, Ft. @$ = $ , economic life of the property): "The reoort reauests the
350 Sq. Ft. @$ = ReDroducUon Cost aooroach which reauires the construction of
= an exact reolica includina the same materials. methods and
Garage/Carport _ Sq. Ft. @$ = workmanshio and must include anv existino functional
Total Estimated Cost New .. ...-- . --= $ obsolescence. This would be misleadino and makes this method
Less Physical Functional External misleadino. The Replacement Cost aooroach mioht be more
Depreciation I I =$ aoorooriate but it reauires reolacement usina modern materials
Depreciated Value of Improvements ---....-.... - ... ........ .. .. =$ methods and workmanshio. olus the elimination of anv oresenl
"As-Is' Value of Stte Improvements __n........_.... ....- -- =$ functional denreciation. This too would be misleadina and the
INDICATED VALUE BY COST APPROACH .... ........... ---- =$ Cost Annroach Is therefore misleadino."
ITEM I SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
437 Hummel Ave 420 Reno St. 903 Bridge St. 318 Tenlh SI.
Address Lemovne New Cumberland New Cumberland New Cumberland
Proximttv to Sublect . 1.78 miles SE 1.42 miles SE 0.51 miles SW
Sales Price $ NA .' Is 90.005 .... T$ 80 900 1$ 97 900
Price/Gross livino Area $ ltJ$ 69.23 ltJ .. $ 60.55 ltJl $ 83.25 ltJ I
Data and/or Inspection CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
Verification Source NA NA NA NA
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION : + ( -)$ Adiust DESCRIPTION + ( -)$ Adlust DESCRIPTION +(-)$ Adiust.
Sales or Financing Conventional Conventional : FHA
Concessions None Known None Known Sellers Helo -1.998
Date of SalelTime .. 814/05 MT 31 : 2/22105 MT 202 +2 500 5131105 MT 5 : +2.500
Location Suburban Suburban Suburban : Suburban :
LeaseholrllFee Simnle Fee Simole Fee Simole : Fee Simole : Fee Slmole :
Stte .06 Acres .12 Acres : .05 Acres .05 Acres :
View Ava Eoual Eaual Eaual
Desinn and Anneal Trad Semi-Det Trad Seml-Det Trad Semi-Det Trad Semi-Det
Qualttv of Construction Ava Avo Ava : Ava
AGe 76 76 94 79 :
Condition Ava EQual Eoual : Eaual :
Above Grade Total : Bdrms: Baths Total : Bdrms: Baths : Total : Bdrms : Baths : Total : Bdrms : Baths :
Room Count 6 : 3 1 7 4 : 1 5 3 : 1.5 : -1,500 6 3 1 :
Gross Livlnn Area 1,260 So. Ft. 1 300 So. Ft. : -400 1 336 So. Ft. : -760 1 176 So, Ft. : +840
Basement & Finished Full Unfinished Full Unfinished Fuli Unfinished Full Unfinished
Rooms Below Grade 0% StoraaelMech Storaoe/Mech Storaoe/Mech
Functional UtIlitv AVQ Avo : Avo : Avo :
Heatlnn/Coolinn OFW AlNo CA Oil Steam/NA GFWAlNA GHWlWindow :
Enernv Efficient Items Insulation Insulation : Insulation Insulation :
GaranpJCamort NA NA : NA NA :
Porch, Patio, Deck, Porches PorchlPatio Porches Porch/Patio
Fireolacels\ etc, NA Woodstove -1 000 NA 1 FP -2 000
Fence Pool etc. NA NA NA : NA :
NA NA : NA : NA :
Net Adi. Itotal\ . il + rXI - :$ 1400 rXI+ r l- :$ 240 rl+ lX1- :$ 658
Adjusted Sales Price '. .' . Is -Is Is
....
of Comoarable .' . 88 605 ., 81 140 97 242
Comments on Sales Comparison (including the subject property's compatibiltty to the neighborhood, etc.): Sales used were all reasonablv similar stvle
dwellinQs in the same neiahborhood and subiect to reasonably similar amenities. Adiustments were based on market extraction andlor
iudoment. The indicated value ranoe on the above arid extends from $81 140 to $97 242. The indicated market value is estimated to be less
than the UDoer end of the value ranae and at $92 000. Prooertv is currentlv used as a rental with the rent beina $750/mo.
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO, 2 COMPARABLE NO.3
Date, Price and Data Not Applicable Not Applicable Not Applicable Not Applicable
Source, for prior sales
within year of Rnnraisal
Analysis of any current agreement of sale. option, or listing of subject property and analysis of any prior sales of subject and comparables wRhin one year of the date of appraisal:
The subiect is not currentlv offered for sale or under an aoreement of sale. No orior sales within three vears.
INDICATED VALUE BY SALES COMPARISON APPROACH .... .......- . .............. ........-- ..... ....... $ 92 000
INDICATED VALUE BY INCOME APPROACH (If ADDllcable\ Estimated Market Rent $ NA !Mo. x Gross Rent MultlDller NA ..,$- NA
This appraisal is made [gJ 'as is' 0 sublect to the repairs, alterations, inspections or conditions listed below 0 sublect to completion per plans & specilications.
Condl1lons of ApprBisal: If property is sold subiect to satisfactory termite and radon certifications with appraised value based on clear test results.
Anal Reconciliation: Insufficient market data was available to orocess the Income Aooroach. The Cost Aooroach is considered and used as a
check for this aODraisal and tvoicallv sets the UDoer limit of value. The Sales Comoarison Annroach is deemed most reliable and aiven areatest
weioht.
The purpose of this appraisal is to estimate the market value of the real property that is the sublect of 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 Form 439/FNMA form lDD4B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DERNED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 92,000
A~PRAISE0 J. ~ SUPERVISORY APPRAISER (ONLY IF REaUIRED):
Slonature SiGnature o Did o Did Not
Name Dennis L. Stover Name Inspect Property
Date ReDort SIGned 2-23-06 Date Renort Sinned
State Certification # PA Certifllld Residential Real Estate Appraiser State PA State Certification # State
Or State license # Certification Number: RL 138906 State PA Or State license # State
\
Freddie Mac Form 70 6193
UNIFORM RESIDENTIAL APPRAISAL REPORT
PAGE 2 OF 2
Form UA2 - 'WinTOT AL" appraisal software by a la mode, inc, - 1-80D-ALAMODE
Summary Report
FII N 5 1201 R 9
Fannie Mae Form 1004 6-93
\ l
@rA
~.p
APPRAISAL OF REAL PROPERTY
LOCATED AT:
447 S 3rd St
Deed Book 0033R Page 00373
Lemoyne, PA 17043-2040
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number 138906
Clauser Real Estate Appraisals
P. O. Box 777
Camp Hill, PA 17001-0777
Form GA 1 - "WinTOT AL' appraisal software by a la mode, Inc. - 1-800-ALAMODE
\ r
File No. 5-1201 R-18
State PA
Zi Code 17043-2040
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to QOJl of the following definitions:
IZI Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without Invoking the Departure Rule.)
o limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report is QM of the following types:
o Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or limited Appraisal performed under STANDARD 1.)
IZI Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or limited Appraisal performed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
D The statements of fact contained in this report are true and correct.
D The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional
analyses, opinions and conclusions.
D I have no (or the specnled) present or prospective interest In the property that is the subject of this report, and no (or the specnled) personal interest with respect to the parties
involved.
D I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
D My engagement in this assignment was not contingent upon developing or reporting predetermined results.
D My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the
client the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the Intended use of this appraisal.
D My analyses, opinions and conclusions were developed and this report has been prepared, In conformity with the Uniform Standards of professional Appraisal Practice.
D I have made a personal inspection 01 the property that Is the SUbject of this report.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State license #:
State:
Expiration Date of Certnication or license: 6/30/2005
o Did [J Did Not Inspect Property
APPRAISER:
Signature: U- 1. ~
Name: Dennis L. Stover
Date Signed: 1-30-06
State Certification #: PA State Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certnication or license: 6/30/2007
GEORGE CLAUSER
Form 102 - 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
--
Summary Report
FileNo. 5-1201 R-18
Address 447 S 3rd St City Lemoyne State P A Zio code 17043-2040
Leaal Descriotlon Deed Book 0033R Paoe 00373 County Cumberland
Assessor's Parcel No. 12-22-0822-213 TaxYear 05-06 R.E. Taxes $ 3 132 Soecial Assessments $ NA
Nelahborhood or Proiect Name Lemoyne Borouah Man Reference 25420 Census Tract 42041-0106.00-9
Borrower NA Current Owner The Estate of Bettv G. Binkley Occuoant il Owner 1)(1 Tenant il Vacant
Prooertv riohts aooralsed 1)(1 Fee Simole il Leasehold I Proiect Tvoe PUD r l Condominium HOA $ NA /Mo.
Sales Price $ NA Date of Sale NA Descriotlon and $ .amount of loan charoes/concessions to be oaid by seller NA
Lender/Client The Estate of Betty G. Binkley Address Johnson. Duffie. Stewart. & Weidner P. C. 501 Market St.. Lemoyne PA 17043-
Aooralser Dennis L. Stoyer Address Clauser Real Estate Aooraisals P. O. Box 777 Camo Hill PA 17001
Location U Urban ~ Suburban U Rural ~~~Wy _l?J.Il~1e I8mlly nou"I~~ ~u;nt lW~ family nou'ln~~l
Built up DOver 75% ~ 25-75% o Under 25% Occupancy lW~ fy~s Occupancy
Growth rate o Rapid ~ Stable o Slow ~ Owner ~ Low ~ 0 Owner ~ Low~
Property values D Increasing ~ Stable o Declining D Tenant 850 Hioh 200 ~ Tenant 250 Hiah 150
Demand/supply D Shortage ~ In balance [J Over supply ~ Vacant (0-5%) ~predomin~ [8J Vacant (0-5%) ~predominant.__
Marketlna time n Under 3 mos. 1)(1 3.6 mos. I~ Over 6 mos. Fi Vacant (over 5%1 145 25 Fi Vacant (over 5% 125 75
TypIcI12-4 family bldg. Type Traditional No. stories 2 No. units 2-3 Age ~ yrs, Present land uee % Land uee change
Typical rents $ ~ to $ 700 D Increasing [8J Stable D Declining One family ~ D Not likely D Likely
Est. neighborhood apt. vacancy ~ 'J(, o Increasing ~ Stable o Declining 2-4 family ~ ~ In process to:
Rent controls DYes ~No o Likely " yes or likely, describe Multi-family 5 Vacant land to
Commercial 5 residential.
( )
Note: RBCe and the racial composition 01 the neighborhood are not appraleel factora.
Neighborhood boundaries and characteristics: Subiect is in a suburban location in the Borouoh of Lemoyne Cumberland County. Schools shoppino.
are within 5-10 minutes. Employment centers are Harrisburo. Camo Hill York Mechanicsburo. and surroundino communities. Public School
students attend the West Shore School District.
Factors that affect the mar1<etablllty of the properties in the neighborhood (prOximity to employment and amenities, employment stability, appeal to market, etc.):
The subiect neiohborhood is comprised of a comoatible mixture of sinole family. multi-family. and conversion apartments. All are of reasonably
similar auality and appeal with typical condition beino averaae for 2-4 unit/multi-familv orooerties. Demand for rentals appears to be averaae
and no rent controls are antlcioated.
The following available listings represent the most current, similar, and proximate competitive properties to the subject property In the subject neighborhood. This analysis Is In-
tended to evaluate the Inventory currenUy on the market compeUng with the subject property In the subject neighborhood and recent price and markeUng Ume trends allecUng the sub-
ject property. (UsUngs outside the subject neighborhood are not considered applicable). The listing comparables can be the rental or sale comparables n they are currenUy lor sale.
ITEM I SUBJECT COMPARABLE LISTING NO.1 COMPARABLE LISTING NO.2 COMPARABLE LISTING NO.3
447 S 3rd St 223 Bosler Ave. 301 Ross Ave. 325 E. Main St.
Address Lemoyne Lemoyne New Cumberland Mechanicsburo
ProximitY to subiect 0.41 miles NW 2.11 miles SE 3.49 miles SW
Listina orice $ NA IIXl Unf. r l Furn. $ 209 000 IXl Unf. r l Furn. $ 231 000 IXl Un!. il Fum. $ 249 000
Aooroximate GBA 3.344 2312 3800 3604
Data source Insoection MLS MLS MLS
# UnitslTot. rmsJBRlBA 4 :20: 8 4 2 10 5 2 4 16 8 5 3 12 6 4
Aooroximate year built 1950 M/L 1930 1920 1844
I AoDrox. days on market NA 28 93 146
Comparison of listings to subject property: Listinos are all in the same oeneral market area, featurino similar des ion and amenities. They apoear to
be reasonablv similar to the subiect.
Market conditions that affect 2.4 family properties in the sublect neighborhood (Including the above neighborhood Indicators 01 growth rate, property values,
demand/supply, and marketing time) and the prevalence and Impact In the subject market area regarding loan discounts, interest buydowns and concessions, and
Identification 01 trends in listing prices, average days on market and any change over past year, etc.: Market conditions for 2-4 family properties are considered
mildly active due to an uncertain economy. There are properties for sale in the same nelohborhood and in comoetition with the subiect. As a
result the prooerties must be comoetivley Priced In an effort to secure a buyer. Marketino time can exceed six months deoendino uoon the
condition of the property and auality of the tenants.
Dimensions From County Records Topography Leyel
Site area .17 Acres Comer lot ~ No DYes Size Averaoe
Spec"ic zoning class"lcatlon and description SR Suburban Residential Shape Rectanoular
Zoning compliance C8J Legal o Legal nonconforming (Grandfathered use) o Illegal D No zoning Drainage Adeauate
Highest and best use as Improved: [8J Present use D Other use (explain) View Averaoe
Landscaping Ayeraae
Utilities Public Other 0II-I1te Improvements . Type Public Private Driveway None
Electricity r8J 5100 AMP Street Macadam C8J 0 Apparent easements There are no aooarent ease-
Gas [8J Curb/gutter Concrete C8J D ments.
Water ~ Sidewalk Concrete [8J D FEMA Special Flood Hazard Area DYes [8J No
Sanitary sewer C8J Street lights Yes ~ R FEMA Zone C Map Date 12/4/1979
Storm sewer rxi Alley Rear FEMA Map No. 420361 0001 B
Comments (apparent adverse easements. encroachments, special assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): There are no apparent
easements encroachments soecial assessments slide areas or illeaallleaal nonconformina zonino uses. The site is not in a HUD identified
flood hazard area and the lot is rectanaular.
Freddie Mac Form 72 10-94
PAGE 1 OF 4
GEORGE CLAUSER
Form SR3 - 'WinTOTAL" appraisal software by a la mode, Inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
, .
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
At least three rental comparables should be reported and analyzed In this section. The rental comparables should represent the most current. rental information on properties as
similar and proximate to the sublect property as possible. (This comparison Is based on current rental data, therefore, the rental comparables typically are not the same comparables
used in the sales comparison analysis.) The appraisal report should assure the reader that the units and properties selected as comparables are comparable to the subject
property (both the units and the overall property) and accurately represent the rental market lor the subject property (unless otherwise stated within the report).
SUBJECT COMPARABLE RENTAL NO.2 COMPARABLE RENTAL NO.3
301 Ross Ave. 325 E. Main SI.
New Cumberland Mechanicsbur
2.11 miles SE 3.49 miles SW
Data source
NA
1-28-06
MLS
NA
1-28-06
MLS
Rent concessions
None
None
None
None
Description of
property-units,
design, appeal,
age, vacancies,
and conditions
No. Units 4 No. Vac. 0 Yr. BII.:1920 No. Unlts3 No. Vac.1 Yr. Bit.: 1844
Traditional s Ie 4 unit in Traditional s Ie 3 unit in
avera e condiiton. avera e condiiton.
Individual
unit
breakdown
Rm. Count
Br Ba
1 1
3 2
2 1
Size
S . Ft.
836
836
836
836
Rm. Count
Tot Br Ba
4 2 1
6 3 1
Utilities,
furniture, and
amenities
Included In rent
Functional utility,
basement,
heating/cooling,
prolect amenities, etc.
Avera e Condition. 100%
Basement
Avera e Condition 100%
Basement
Avera e Condition. 1 00%
Basement
Subject'. rent schedule The rent schedule reconciles the applicable Indicated monthly market rents to the appropriate sublect unit, and provides the estimated rents lor the
subject property. The appraiser must review the rent characteristics 01 the comparable sales to determine whether estimated rents should reflect actual or market rents. For
example, n actual rents were available on the sales comparables and used to derive the gross rent multiplier (GRM), actual rents for the sublect should be used. R market rents
were used to construct the comparables' rents and derive the GRM, market rents should be used. The total gross estimated rent must represent rent characteristics consistent
with the sales comparable data used to derive the GRM. The total gross estimated rent is not adjusted lor vacancy.
LEASES ACTUAL RENTS ESTIMATED RENTS
Lease Date Un~is Per Unit Per Unit
Be in End Vacant Unfurnished Furnished Unfurnished Furnished
Unknown Unknown 0 600 600
Unknown Unknown 0 565 565
Unknown Unknown 0 590 590
Unknown Unknown 0 590 590
1
1
1
1
4
Other monthly income (Itemize) NA
Vacancy: Actuailast year _ Unk % Previous year Unk % Estimated: --.l % $ 844 Annually
Utilities included in estimated rents: D Electric t8J Water t8J Sewer 0 Gas t8J Oil t8J Trash collection D
electric is $121mo.
Comments on the rent schedule, actual rents, estimated rents (especially regarding dnterences between actual and estimated rents), utilities, etc.: The above cited rents are
tical for this area. Most rents in this area include some e of utilities. The overall actual rents and the estimated rents are considered e ual.
It is not ical to rent units furnished in this articular location. Actual rents are considered to be market rents. Monthl a artment rents total
$2345.00. Total annual rent is $28 140.
Unit
Total
Rents
t,~ ;;J ial.-tl!'.:l""" L,,;;/; :t;L:itllii~~:'~''Ii..l;;:h"".&Ja," t~~
600
565
590
590
2345
0.00
2345
$
Total gross estimated rent $
Tenants a electric. Owners
Freddie Mac Form 72 10-94
Fannie Mae Form 1025 10-94
PAGE 3 OF 4
Form SR3 - "WinTOTAL' appraisal software by a la mode. inc. -l-BOO-ALAMODE
SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT
, I
Ifhe undersigned has recRed three recent sales of properties most similar and proximate to the subject property and has described and analyzed these in this analysis. If there
Is a significant variation between the sublect and comparable properties, the analysis Includes a dollar adjustment reflecting the mar\(el reaction to those Rams or an explanation
supported by the mmet data. If a significant Rem In the comparable property Is superior to, or more favorable than, the sublect property, a minus (-) adjustment Is made, thus
reducing the adjusted sales price of the comparable property; If a significant Rem In the comparable property Is Inferior to, or less favorable than, the subJect property, a plus (+)
adjustment Is made, thus Increasing the adjusted sales price of the comparable property. [(1) SaIee PrIce 1 Gross Monthly Rent]
ITEM I SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3
447 S 3rd St 134-136 Bridge St. 512 Brandt Ave. 9-11 S. Second St.
Address Lemovne New Cumberland New Cumberland Wormlevsbura
Proxlmltv to subiect ..... " ., Less than .01 mile SE 1.33 miles SE 1.1 miles NW
Sales price $ NA I'X'I Un!. r l Fum. $ 207 500 lX1 Un!. Fum. $ 200 000 rx1 Un!. l Furn. $ 196 000
Sales price per GBA $ $ 60.06 $ 75.76 $ 53.96
Gross monthly rent $ 2.345.00 $ 2 335.00 $ 1 775.00 $ 1 800.00
Gross mo. rent mult. (1) 88.87 112.68 108.89
Sales price per unit $ $ 51 875 $ 66 667 $ 65 333
Sales price per room $ $ 15.962 $ 14286 $ 17 818
Data and/or Inspection MLS/Courthouse MLS/Courthouse MLS/Courthouse
Verification Sources
ADJUSTMENTS DESCRIPTION DESCRIPTION : + (- l $ Adlustment DESCRIPTION : + (-) $ Adlustment DESCRIPTION : + (-) $ Adjustment
Sales or financing " '.; . Conventional Cash Conventional
concessions . "" None Known : None Known None Known
Date of sale/lime 10/7/05 DOM 12 : 2/25/05 DOM 81 : +5 000 7/26/04 DOM 11 : +5 000
Location Suburban Suburban : Suburban : Suburban : .
Leasehold/Fee Simple Fee Simole Fee Simole Fee Slmole Fee Simole :
Site .17 Acres .2 Acres : .16 Acres : .20 Acres :
View Averaae Averaoe Averaoe : Averaae :
Design and appeal Traditional Traditional : Traditional Traditional
Quality of construction Averaoe Averaae Averane Averaae
Age 56+/- 96 +5 000 41 : 106 : +5 000
Condition Averaae Inferior +10000 Averaoe : Inferior : +10000
Gross Bulldina Area 3344 Sa. ft. 3455S.ft.: -1 665 2.640 Sa. ft. : +10560 3 632 Sa. ft. : -4 320
No. Rm. count No. No. Rm. count No.: No. Rm. count No.: No. Rm. count No.:
of Vac. 01 Vac.: of Tot Br Ba Vac.: of Ba Vac.:
unRs Tot Br Ba unRs Tot Br Ba unRs unRs Tot Br
Unit 1 5 2 1 0 1 3 1 1 0: 1 5 2 1 0: 1 6 4 1 1 :
breakdown 1 5 2 1 0 1 3 1 1 0: 1 5 2 1 0: 1 3 1 1 0 :
1 5 2 1 0 1 4 2 1 0: 1 4 1 1 0: 1 2 2 1 0 :
1 5 2 1 0 1 3 1 1 0: : +2 500 : +2500
Basement description Full Unfinished Partial Unfin. : Full Unfinished : Full Unfinished :
Functional utility Averaae Averaoe : Averaoe : Averace :
Heating/cooling 011 Steam EBB/OFW A : GHW/NA : GHW/NA :
Parking on/off site 4 3 Car Detached +2 000 Off Street : +6 000 2 Car Detached : +4 000
Project amenities and NA NA NA NA
fee (If applicable) Basement Storaae NA NA NA
: :
Net Adj. (total) . I'X'I + r l- :$ 15335 rxI+ il-:$ 24 060 rx1+ l-: $ 22 180
Adjusted sales price 1$
of comparable 222 835 ' . '. $ 224 060 I .". $ 218180
Comments on sales comparison (including reconciliation of all Indicators of value as to consistency and relative strength and evaluation of the typlcallnvestor's/purchaser's
motivation In that market): All sales were within the and in the same market area. Sales ranoed from a low of $218,180 to a hiah of $224,060. The
rice oer unit ranced from a low of $51 875 to a hiah of$66 66. The value indicated bv the sales comoarison aooroach on the above arid is at or
near the uooer end of the value rance and at $224 000.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Date, Price and Data None in the last None in the last year. None in the last year. None In the last year.
Source for prior sales year. MLS/CCTAO MLS/CCT AO MLS/CCTAO
within year of appraisal CCTAO 1-30-06 1-30-06 1-30-06
Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
The property is not currentlv under an aoreement to purchase and has not transferred within the last Year.
T etal gross monthly estimated rent $ 2,345 X gross rent multiplier (GRM) 95.00 = $ 222,775 INDICATED VALUE BY INCOME APPROACH
Comments on income approach (including expense ratios, if available, and reconciliation of the GRM) The tvoical is investor is motivated bv the income aenerated
bv the rental units.
INDICATED VALUE BY SALES COMPARISON APPROACH .... ............. 'n $ 224 000
INDICATED VALUE BY INCOME APPROACH ....... nn___nnnnn__nnnnnnnn_nnnnnnn_ $ 222 775
INDICATED VALUE BY COST APPROACH n_____ .._.__n..__n_ ..n____nn_..___. .._ S NA
This appraisal is made [gJ "as Is" D SUbject to the repairs, alterations, inspections, or conditions listed below D subject to completion per plans and specifications.
Comments and conditions of appraisal: The value indicated is based on the subiect orooertv in it's "as is" condition and assumes a marketable title and
comoliance with city codes. All three aooroaches to value were considered in this value estimate.
Rnal reconciliation: The sales comnarison annroach and the income annroach are considered most reliable and are aiven the oreatest weioht. Inmv
ooinion the estimated value as of the date of the aooraisal is $224 000.
The purpose of this appraisal Is to estimate the market value of the real property that is the subject of 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 Form 439/Fannie Mae Form 1004B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEANED. OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 224,000
APPRAISER: 0 J. ~ SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Slanature Slanature o Did o Did Not
Name Dennis L. Stover Name Inspect Property
Date Report Sianed 1-30-06 Date Renort Sinned
State Certification # PA State Certified Residential Real Esta State PA State Certification # State
Or State License # Certification Number: RL 138906 State PA Or State License # State
Freddie Mac Form 72 10-94
PAGE 4 OF4
Form SR3 - 'WlnTOTAL' appraisal software by a la mode, Inc. -1-800-ALAMODE
Fannie Mae Form 1025 10-94
,.
APPRAISAL OF REAL PROPERn
LOCATED AT:
922 Hummel Ave
Deed Book 0035M Page 00204
Lemoyne, PA 17043-1737
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart, & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GAl - 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
, ,
SUMMARY OF SALIENT FEATURES
Subject Address 922 Hummel Ave
Legal Description Deed Book 0035M Page 00204
City Lemoyne
County Cumberland
State PA
Zip Code 17043-1737
Census Tract 42041-0106.00-5
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower I Client NA
Lender The Estate of Betty G. Binkley
Size (Square Feet) 1,351
Price per Square Foot
Location Suburban
Age 86
Condition Avg
Total Rooms 6
Bedrooms 3
Baths
Appraiser Dennis L. Stover
Date of Appraised Value 11-7-05
Final Estimate of Value
$ 130,000
Form SSD - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
File No. 5-1201 R-10
State PA
Zi Code 17043-1737
APPRAISAL AND REPORT IDENTIFICATION
This appraisal conforms to QM of the following definitions:
[8J Complete Appraisal (The act or process of esttmatlng value, or an opinion of value, performed without Invoking tho Departure Rule.)
o Limited Appraisal (The act or process of esttmatlng value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report Is Qill! of the following types:
o Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
[8J Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related Issues requiring disclosure:
1----
--
APPRAISER:
Signature: 'L2- 1. si::
Name: Dennis L. Stover
Date Signed: 1-24-06
State Certification #: FA Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
U Did
D Did Not Inspect Property
GEORGE CLAUSER
Form 102 - "WinTOTAL' appraisal software by a la mode, Inc. -1-800-ALAMOOE
GEORGE CLAUSER
Summary Report
_"'--"Inti"" UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 5-1201 R 10
. Prooertv Address 922 Hummel Ave City Lemovne State PA Zin Code 17043-1737
Leoal Descrintion Deed Book 0035M Paae 00204 Countv Cumberland
Assessor's Parcel No. 12-22-0824-239 Tax Year 05-06 R.E. Taxes $ 1 301 Snecial Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev Occunant: r l Owner rx1 Tenant il Vacant
Prooertv riohts aooraised !XI Fee Simole i Leasehold Prolect Tvne I I PUD I I Condominium IHUDNA onlvl HOA $ NA /MD.
Neiohborhood or Proiect Name Lemovne Borouah Man Reference 25420 Census Tract 42041-0106.00-5
Sale Price $ NA Date of Sale NA Descrtntion and S amount of loan charlles/concesslons to be nald bv seller NA
Lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 501 Market St.. Lemovne, PA 170-
Annralser Dennis L. Stover Address P. O. Box 777 Camo Hill PA 17001-0777
Location 0 Urban [2<:J Suburban 0 Rural Predominant p~rCIe Iamlly hO~~~ Preaent land use % Land use change
Built up 0 Over 75% C8J 25-75% D Under 25% occupancy $(000) (yrs) One family ~ 0 Not likely 0 Likely
Growth rate D Rapid C8J Stable [J Slow C8J Owner 70 Low ~ 2-4 family ~ C8J In process
Property values C8J Increasing 0 Stable D Declining 0 Tenant 850 Hinh 150 Mulli-family _L- To: vacant land to
Demand/supply C8J Shortage 0 In balance 0 Over supply C8J Vacant (0-5%) .. Predomlnantlllll Commercial 5 residential develooment
Marketinotime rx1 Under 3 mos. Fi 3-6 mos. Fi Over 6 mos. Fi Vac.lover 5%\ 145 25 Vacant 15
Note: Race and the racial composition of the neighborhood ara not appraisal factors.
Neighborhood boundaries and characteristics: The subiect nelahborhood consists of Lemovne Borouah in Cumberland County. PA.
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The orooertv beina valued is located alona the south side of Hummel Ave. Shoooina. schools and churches are located within 5-10 minutes of
the orooertv. Full service shoppina is available at the Camo Hill and Caoital City malls. aooroximatelv 10-15 minutes. Public school students
attend the West Shore School District. Emolovment centers are located in Harrisburo Camp Hill York and Mechanicsbura.
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 sale in the neighborhood, descrtption of the prevalence of sales and financing concessions, etc.):
Market conditions in the subiect neiahborhood are considered moderatelv active with low mortaaae interest rates beina the orimarv catalvst.
Sales In recent weeks have been moderatelv active. Approxlmatelv 5 houses of various stvles are for sale within 5 miles and are in competition
with the sublect. Tvpical financina for residential orooerties includes 80% to 90% loan 1-3ooints 5.5-6.5% mortaaoe interest rates for UP to 30
Years. Tvoical marketina time is between 90 and 180 days.
Project Information for PUOs (II applicable) - - Is the developerlbuilder in control of the Home Owners' Association (HOA)? [J Yes 0 No
Approximate total number of unlls in the subject project Approximate total number of unlls for sale in the subject project
Describe common elements and recreational facilllies:
Dimensions From Countv Records Topography Ava
SlIe area .12 Acres Comer Lot 0 Yes C8J No Size Ava
Specific zoning classllication and description UR Urban Residential Shape Rectanaular
Zoning compliance [><:J Legal D Legal nonconforming (Grandfathered use) 0 Illegal D No zoning Drainage Ava
Hinhest & best use as Imnroved: rXf Present use n Other use (emlaln) View Ava
Utllllles Public Other OII-tlte Improvements Type Public Private Landscaping Ava
Electricity C8J Street Macadam C8J 0 Driveway Surface NA
Gas ~ Curb/guller Concrete C8J 0 Apparent easements None Known
Water C8J Sidewalk Concrete C8J 0 FEMA Special Flood Hazard Area 0 Yes C8J No
Sanllary sewer C8J Street lights Incandescent ~ U FEMA Zone C Map Date 12/4/1979
Storm sewer Ri Allev None IXI n FEMA Man No. 4203610001B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, Illegal or legal nonconforming zoning use, etc.): There are no
apparent easements encroachments soecial assessments slide areas or iIIeaal or leaal nonconformino uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNOA liON BASEMENT INSULATION
No. of Units One Foundation Stone Slab 0 Area Sq. Ft. 728 Roof _0
No. of Stories 1.5 Exterior Walls Brick/Asphalt Crawl Space 0 % Finished 0% Ceiling ~ C8J
Type (Det.! All.) Detached Roof Surface FG/Shnol Basement 100% Ceiling aDen Walls ~ C8J
Design (Style) Cape Cod Gullers & Dwnspts. Aluminum Sump Pump None Walls Stone Roor .~C8J
Existing/Proposed Existina Window Type DblHuna Dampness No Evidence Floor Concrete None ~_ []
Age (Yrs.) 86 Storm/Screens Screens Settlement No Evidence Outside Entry Yes Unknown_ D
Effective Aoe (Yrs.) 15 Manufactured House No Infestation No Evidence
ROOMS Fover Livino Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area So. Ft.
Basement Area Stor/Mech 728
Levell 1 1 1 743
Level 2 3 1 608
Finished area above nrade contains: 6 Rooms' 3 Bedroom(s):
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATIIC
Floors HdwNin Ava Type HW Refrigerator 0 None
Walls Plaster Ava Fuel Oil Range/Oven C8J Stairs
Trim/Finish Wood Ava Condition Avo Disposal 0 Drop Stair
Bath Floor Vinyl Ava COOLING Dishwasher =::J Scuttle
Bath Wainscot Fiberglass Ava Central NA Fan/Hood D Floor
Doors Wood Ava Other NA Microwave 0 Heated
K~chen Floor: Vinvl-Ava Condition NA WasherlDrver Fi Finished
Additional features (special energy efficient items, etc.): 40 Gallon Electric hot water heater.
--
Condition of the Improvements, depreciation (physical, functional, and external), repairs needed, quallly of construction, remodeling/additions, etc.:
cape cod stvle dwellina in averaae condition with a one car detached aaraoe. Phvsical: Depreciation due to aae and condition.
None External: No adverse locational features noted.
1 Bath(s):
AMENITIES
[J Fireplace(s) # ~ D
o Patio NA D
o Deck NA 0
C8J Porch Front/Rear C8J
o Fence NA 0
o Pool NA D
Fi n
1351
Snuare Feet of Gross Livino Area
CAR STORAGE:
None 0
Garage
Allached
Detached
Built-In
Carport
Drivewav
# of cars
NA
1 Car
NA
NA
NA
Subiect is a
Functional:
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.: None Known - aooraiser is not aualified to detect such substances. If the house is sold termite and
radon certifications are suooested. Houses built before 1978 mav contain lead base oaint.
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. - l-800-ALAMODE
Fannie Mae Form 1004 6/93
Summary Report
UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 5-1201 R-10
Comments on Cost Approach (such as, source 01 cost estimate, sne value,
square loot calculation and lor HUD, VA and FmHA, the estimated remaining
economic me 01 the property): "The reoort reauests the
Reoroductlon Cost aooroach which reauires the construction of
an exact reolica includina the same materials methods and
workmanshio and must include anv existina functional
obsolescence. This would be misleadina and makes this method
misleadina. The Reolacement Cost aooroach miaht be more
=$ aODrooriate, but it reaulres reolacement usina modem materials
.. =$ methods and workmanshiD. olus the elimination of anv oresent
. ... =$ functional depreciation. This too would be misleadina. and the
.......... ........ ...... ."S Cost Aooroach Is therefore misleadina."
COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3
230 Walton St. 60 N. 8th St. 719 Bossler Ave.
Lemovne Lemovne Lemovne
0.8 miles NE 0.38 miles NW 0.19 miles NE
NA 1$ 131 000 1$ 139900 li
ltJl$ 111.21 rP 98.52 rPl $ 115.98 rPT
CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
NA NA NA
DESCRIPTION +(-)$ Adlust. DESCRIPTION +/ -)$ Adiust. DESCRIPTION: +1-1$ AdlUst.
Conventional Conventional: Conventional
Sellers Helo -3.000 None Known: Sellers HelD
10/28/05 MT 31 4/29/05 MT 4 +5000 4/6/05 MT 32
Suburban Suburban/Sup -5 000 Suburban/SuD -5 000 Suburban
Fee SimDle Fee SimDle Fee Simole Fee SimDle
.12 Acres .25 Acres .17 Acres: .10 Acres
Ava Eaual Enual Eaual
Caoe Cod Caoe Cod CaDe Cod Cane Cod
Ava Ava Ava Avn
86 46 58 106
Ava Eaual Enual Eaual:
Total: Bdrms: Baths Total : Bdrms : Baths: Total : Bdrms : Baths: Total : Bdrms : Baths :
6 3 1 4 2 1 5 2 1.5 -1,500 6: 3 : 1 :
1 351 So. Ft. 1 178 So. Ft. . +1 730 1.420 So. Ft. . -690 1 120 So. Ft. :
728 Full Unfinished Full Unfinished Full Part Finished :
Storaae/Mech StoraaelMech Storane/Mech FRlOfclStoraae
Ava Ava Ava: Ava
OHW/No CA OFWAlCA -3000 OFWAlCA -3000 GFWAlCA
Insulation Insulation' Insulation Insulation
1 Car Detached 2 Car Detached -2.000 2 Car Detached -2 000 NA
Porches Porch Porch Patio
1 FP 1 FP 1 FP NA
Wood NA NA NA
NA NA NA NA
NetAdi. /totall Il + rx:J - :S 11270 il + IX'I- :$ 7190 IX'I + 1"1- :$
Adjusted Sales Price I I I
olComoarable Is 119730 1$ 132,710 I~ 131210
Comments on Sales Comparison (including the sublect property's compatibility to the neighborhood, etc.): Sales used were all reasonablv similar stvle
dwellinas in the same neiahborhood and subiect to reasonablv similar amenities. Adiustments were based on market extraction and/or
iudament. The indicated value ranne on the above arid extends from $119 730 to $132 710. The indicated market value is estimated to be less
than the UODer end of the value ranae and at $130,000. Propertv is used as a rental with the rent beina $655/mo.
lIlIon ~nn
ESTIMATED SITE VALUE.
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:
Dwelling 1,351 Sq. Ft. @$ = $
728 Sq. Ft. @$ =
Garage/Carport ~ Sq. Ft. @$
Total Estimated Cost New
Less Physical
Depreciation I
Depreciated Value 01 Improvements
"As-is' Value 01 Site Improvements .
INDICATED VALUE BY COST APPROACH
ITEM I SUBJECT
922 Hummel Ave
Address Lemovne
Proximity to Subiect
Sales Price
Price/Gross Livlno Area
Data and/or
Verification Source
VALUE ADJUSTMENTS
Sales or Financing
Concessions
Date 01 SalelTime
Location
Leasehold/Fee Simole
Site
View
Desion and Aooeal
aualltv 01 Construction
Aae
Condition
Above Grade
Room Count
Gross Livino Area
Basement & Rnished
Rooms Below Grade
Functional UtilitY
HeatinalCoolinn
Enerov Efficient Items
Garaoe/Caroort
Porch, Patio, Deck,
Rreolace/sl. etc.
Fence Pool etc.
= $
Functional
= $
External
129 900
-3 000
+5,000
+2310
-4 000
-3 000
+2 000
+2 000
1 310
ITEM
Date, Price and Data
Source, lor prior sales
within vear 01 aeeralsal
Analysis 01 any current agreement 01 sale, option, or listing 01 subject property and analysis 01 any prior sales 01 subject and comparables within one year 01 the date 01 appraisal:
The subiect is not currentlv offered for sale or under an aareament of sale. No Drior sales within three vears.
S
Inspection
NA
DESCRIPTION
SUBJECT
Not Applicable
COMPARABLE NO.1
Not Applicable
COMPARABLE NO.2
Not Applicable
COMPARABLE NO.3
Not Applicable
INDICATED VALUE BY SALES COMPARISON APPROACH ..... ........ ................. $ 130.000
INDICATED VALUE BY INCOME APPROACH m AnDlicablel Estimated Markel Rent ~ NA IMo. x Gross Rent Multloller NA , t NA
This appraisal is made ~ "as is''[ 1 subject to the repairs, alterations, inspections or conditions listed below 0 subject to completion per plans & specifications.
Conlltions of Appraisal: If oronertv is sold subiect to satisfactorY termite and radon certifications with appraised value based on clear test results.
Final Reconciliation: Insufficient market data was available to orocess the Income Aooroach. The Cost Approach is considered and used as a
check for this aooralsal and tvnicallv sets the UDDer limit of value. The Sales ComDarlson ADDroach is deemed mast reliable and oiven areatest
weicht.
The purpose 01 this appraisal is to estimate 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 Form 439/FNMA lorm 1004B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THATlS THE SUBJECT OFTHIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 130,000
A~PRAISE~ ~J SUPERVISORY APPRAISER (ONLY IF REQUIRED):
~ure ~ L ~ Sionature
Name Dennis L. Stover Name
Date Reeort Slaned 1-24-06 Date Renort Sinned
State Certification # PA Certified Residential Real Estate Appraiser State PA State Certltication #
Or State License # Certification Number: RL 138906 State PA Or State License #
Freddie Mac Form 70 6/93
PAGE 2 OF 2
Form UA2 - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
o Did 0 Did Not
Inspect Property
Fannie Mae Form 1004 6-93
State
State
, .
(Q
(Q)k
APPRAISAL OF REAL PROPERTY
LOCATED AT:
501 Warren St
Deed Book 0032E Page 00966
Lemoyne. PA 17043-2037
FOR:
The Estate of Betty G. Binkley
Johnson. Duffie, Stewart, & Weidner. P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1 - 'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMOOE
. .
SUMMARY OF SALIENT FEATURES
Subject Address 501 Warren St
Legal Description Deed Book 0032E Page 00966
City Lemoyne
County Cumberland
State PA
Zip Code 17043-2037
Census Tract 42041-0106.00-9
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower / Client NA
Lender The Estate of Betty G. Binkley
Size (Square Feet) 1,120
Price per Square Foot $
Location Suburban
Age 64
Condition Avg
T olal Rooms 6
Bedrooms 3
Baths 1
Appralser Dennis L. Stover
Date of Appraised Value 11-7-05
Rnal Estimate of Value $ 149,000
Form SSD - 'WinTOTAL' appraisal software by a la mode, inc. -1-aOO-ALAMODE
.
Borrower NA File No. 5-1201 R-11
Pronertv Address 501 Warren 5t
CiIv Lemovne County Cumberland State PA Zio Code 17043-2037
Lender The Estate of Betlv G. Binklev
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to 0D.ll of the following definitions:
rzJ Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without invoking the Departure Rule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the
Departure Rule.)
This report is one of the folloWing types:
o Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal pertormed under STANDARD 1.)
rzJ Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal pertormed under STANDARD 1.)
o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal pertormed under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: ~_ L ~
Name: Dennis L. Stover
Date Signed: 1-16-06
State Certification #: PA Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
State: PA
Expiration Date of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
o Did
o Did Not Inspect Property
GEORGE CLAUSER
Form 102 - 'WlnTOTAL' appraisal software by a la mode, inc. -j.800.ALAMODE
GEORGE CLAUSER
FIle No. 5-120.1 R-11
Prollertv Address 50.1 Warren St CiIv Lemovne State P A ZID Code 170.43-20.37
leoal Descriotlon Deed Book 0032E Paoe 0.0.966 Counlv Cumberland
Assessor's Parcel No. 12-22-0.820-0.58 Tax Year 0.5-0.6 R.E. Taxes S 1 313 SllI!clal Assessments S NA
Borrower NA Current Owner The Estate of Bettv G. Binklev OCCUllant: r l Owner IX'! Tenant il Vacant
Proll8rtv rioh!s anoraised IX! Fee Simnle il leasehold Prolect Tvoe r l PUD I I Condominium IHUDNA onlvl HOAS NA /Mo.
Neiohborhood or Proiect Name Lemovne Borouoh Mao Reference 25420. Census Tract 42041-0.10.6.0.0-9
Sale Price ~ NA Date of Sale NA Descrintion and l amount olloan charaeslconcesslons to be nald bv seller NA
lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C. 50.1 Market St. Lemovne PA. 170-
Annraiser Dennis L. Stover Address P. O. Box 777 Camo Hill PA 170.0.1-0.777
location U Urban o Suburban 0 Rural Predominant S1'l!'e1e family hOU'J~ Present land use % land use change
PRI AG
BuiK up DOver 75% o 25-75% 0 Under 25% occupancy $(000) (yrs) One family ~ o Not likely o likely
Growth rate o Rapid o Stable o Slow o Owner ~low~ 2-4family ~ o In process
Property values [8:1 Increasing o Stable o Declining o Tenant 850. Hioh 150. Multi-family ~ To: vacant land to
Demand/supply 0 Shortage 0 In balance 0 Over supply o Vacant (0-5%) - Predominant _ Commercial 5 residential develooment
Marketlna time R1 Under 3 mos. n 3-6 mos. n Dver 6 mos. n Vac.lover 5%\ I 145 25 I Vacant 15
lote: Race and tbe ,aclal composition 01 the neighborhood are not appral..llactors.
Neighborhood boundaries and characteristics: The subiect neiahborhood consists of Lemovne Borouah in Cumberland County. PA.
Factors that allect the marketability ol the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market. etc.):
The orooertv beino valued is located alona Warren Ave. Shoooina. schools and churches are located within 5-10. minutes of the orooertv. Full
service shooolno is available at the Camn Hill and Caoital City malls annroximatelv 10.-15 minutes. Public school students attend the West
Shore School District. Emolovment centers are located in Harrisburo. Camn Hill York and Meehanicsburo.
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 sale In the neighborhood, description of the prevalence of sales and financing concessions, etc.):
Market conditions in the subieet neiahborhood are considered moderatelv active with low mortaaae interest rates beina the orimarv catalvst.
Sales in recent weeks have been moderatelv active. Aooroximatelv 5 houses of various stvles are for sale within 5 miles and are in comoetition
with the subieet. Tvoical financinn for residential Drooerties includes 80.% to 90.% loan 1-3ooints 5.5-6.5% mOrtoaoe interest rates for uo to 30.
I vears. Tvolcal marketina time is between 90. and 180. days.
Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? DYes U No
Approximate total number of units In the subject project Approximate total number of units for sale in the subject project
Describe common elements and recreational facilities:
Dimensions From Countv Records Topography Ava
Site area .14 Acres Comer lot 0 Yes o No Size Ava
Specnic zoning classnicatlon and description SR Suburban Residential Shape Rectanaular
Zoning compliance ~ legal 0 legal nonconforming (Grandfathered use) 0 Illegal [J No zoning Drainage Ava
HloheS! & best use as imnrnved: rX1 Present use n Other use lexolainl View Ava
UtIlities Public Other 0lI-s1te Improvements Type Public Private landscaping Ava
Electricity 0 Street Macadam 0 0 Driveway Surface Macadam
Gas DNA Curb/gutter Concrete [8:1 0 Apparent easements None Known
Water ~ Sidewalk Concrete 0 0 FEMA Special Flood Hazard Area DYes o No
Sanitary sewer 0 Street lights Incandescent ~ R FEMA Zone C Map Date 12/4/1979
Storm sewer IX'! Allev None FEMA Man No. 42D361DOo.1B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, Illegal or legal nonconforming zoning use, etc.): There are no
aonarent easements encraachments soecial assessments slide areas or lIIeoal or leaal nonconformina uses known.
GENERAl DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units Dne Foundation ConcrBlock Slab 0. Area Sq. Fl. 560. Roof _0
No. of Stories Two Exterior Walls Brick Crawl Space 0. % Finished 0.% Ceiling ~ 0
Type (DetJ At!.) Detached Roof Surface FG/Shnal Basement 100.% Ceiling Ooen Walls ~ 0
DeSign (Style) Traditianal Gutters & Dwnspts. Galvanized Sump Pump Nane Walls ConcrBlock Roor ~0
ExistlnglProposed Existina Window Type DblHuna Dampness No Evidence Floor Concrete None _ 0
Age (Yrs.) 64 Storm/Screens Screens Settlement No Evidence Outside Entry None Unkno~ 0
Effective Aoe IYrs. I 15 Manufactured House No Infestation No Evidence Floor Drain
ROOMS Fover livino Dinino KKchen Den Familv Rm. Rec. Rm. Bedrooms # Baths laundrY Other Area So. Fl.
Basement StorlMech 560.
level 1 1 1 1 560.
level 2 3 1 560.
Finished area above orade contains: 6 Rooms' 3 Bedroomlsl: 1 Bath(s): 1120. So uare Feet of Gross lIvlna Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Roors CoWin Ava Type FWA Refrigerator 0 None 0 Fireplace(s) # ~ [8:1 None 0
Walls Plaster Ava Fuel Gas Range/Oven [8:1 Stairs 0 Patio NA 0 Garage # of cars
Trim/Rnish Wood Ava Condition Ava Disposal 0 Drop Stair 0 Deck NA 0 Attached NA
Bath Roor Vinvl Avo COOUNG Dishwasher 0 Scuttle 0 Porch Scrn Rear ~ Detached 2 Car
Bath Wainscot Ceramic Tile Avo Central NA Fan/Hood 0 Floor 0 Fence NA 0 BuiR-ln NA
Doors Wood Ava Other C Fans Microwave 0 Heated R Pool NA R Carport NA
Klchen Floor: VinYl-Ava Condition Ava Washer/DrYer n Rnished Drivewav Macadam
Additional features (special energy efficient Items, etc.): Dwellina aooears to be well maintained with aood housekeeninn.
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodelinwaddltions, etc.: Subiect is a
traditional sMe dwellina in averaoe condition with a two car detached aaraoe. Phvsical: Deoreeiation due ta aoe and condition. Functional:
None External: No adverse loeational features noted.
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.: None Knawn - aooraiser is nat oualified to detect such substances. If the house is sold termite and
radan certifications are suaaested. Houses built before 1978 mav contain lead base oaint.
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Repart
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - "WinTOTAl' appraisal software by a la mode, inc. -1-800-AlAMODE
Fannie Mae Form 1004 6/93
Comments on Cost Approach (such as, source of cost estimate, sne value,
square foot calculation and for HUD, VA and FmHA, the estimated remaining
economic life of the property): "The reDOrt reauests the
ReDroductlon Cost aooroach which reauires the construction of
an exact renlica includina the same materials methods and
workmanshin and must include any existina functional
obsolescence. This would be misleadina and makes this method
misleadinn. The Renlacement Cost aooroach miaht be more
=$ annroDriate but it reouires reolacement usina modem materials.
=$ methods and workmanshio. olus the elimination of anv oresent
=$ functional denreciation. This too would be misleadina. and the
........... . -,,$ Cost ADDroach Is therefore misleadina."
COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
504 S. Third St. 1033 Walnut St. 121 N. Eighth St.
Lemovne Lemovne Lemovne
V- . "'0..', j >'" 0.24 miles SW N W
NAh..i.>:,'i', '..::..'140 -;-.1. 1529001. :. ::':(,,:.1$ 170000
cPls 98.88cPl..".~,,:. 98.65cPl'.,..,:;" 1$ 97.70cPlc':.'
CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
NA NA NA
DESCRIPTION DESCRIPTION +1-lsAiust. DESCRIPTION +1-l$AdJust. DESCRIPTION: +H$Adiust.
11II Conventional Conventional Conventional
Seller Helo -2 500 None Known NA
6/24/05 MT 16: +2 500 2/24/05 MT 1 : +5 000 5/24/05 MT 1
Suburban Suburban Suburban/Suo: -5 000 Suburban/Suo :
Fee Simole Fee Simole: Fee Simole: Fee Simole
.14 Acres .19 Acres .23 Acres .54 Acres
Ava Eaual Enual Eaual
Traditional Traditional Traditional Caoe Cod
Ava Ava Avn Ava
64 84 66: 86 :
Ava Eaual : Enual : Eaual :
Total : Bdrms: Baths Total: Bdrms: Baths : T olal : Bdrms: Baths : Total : Bdrms: Baths :
6 : 3 : 1 7: 3 1: 6 : 3 1.5: -1,500 5: 3 : 2 :
1 120 Sa. Ft. 1 698 Sa. Ft. : -8670 1 550 Sa. Ft. : -6 450 ~~
Full Unfinished Full Part Finished : Full Unfinished Full Unfinished
Staraae/Mech Den/Storaae -2 000 Storaae/Mech Storaae/Mech
Avn Avo Ava Ava
GFWAlC Fans GHW/NA OHWlWall: OHWlWindow :
Insulation Insulation Insulation: Insulation
2 Car Detached 2 Car Detached 1 Car Attached: +2 000 3 Car Detached :
ScmPorch/Rear Patio/Porch: Deck/Patio/Bal Porch
1 FP 1 FP Wood Stove +1 000 NA
NA NA NA: NA
NA NA : NA : In-Law
NetAdi.ltotal1~"'''''' 11+ IXJ-:$ 10670 r l+ rxI-:$ 4950 rl+ IXJ-:$
AdjustedSalesPnce h,1~,."..i. ,I
ofComrulr:lhle 157230~$ 147950::;;\'1':.;;"';1... 153200
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): Sales used were all reasonablv similar sMe
dwellinas in the same neiahborhood and subiect to reasonablv similar amenities. Adiustments were based on market extractian and/ar
iudnment. The indicated value ranae on the above arid extends from 9:147 950 to $157 230. The indicated market value is estimated to be less
than the uDoer end of the value ranae and at $149 000. Subiect is currentlv used as a rental with the rent beina $750/mo.
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
File No 5-1201 R-11
p..= $
ESTIMATED SITE VALUE .
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:
Dwelling 1,120 Sq. Ft. @$ = $
560 Sq. Ft. @$ ~_ =
Garage/Carport _ Sq. Ft. @$
Total Estimated Cost New .
Less Physical
Depreciation I
Depreciated Value of Improvements
'As-is' Value of Site Improvements
INDICATED VALUE BY COST APPROACH
ITEM I SUBJECT
501 Warren St
Address Lemovne
Proximilv to SubiAct
Sales Price
Price/Gross Uvina Area
Data and/or
Verification Source
VAlUE ADJUSTMENTS
Sales or Financing
Concessions
Date of SalAlTjme
location
leaseholdfi:ee SimDle
Site
View
Desinn and Anneal
Qualilv of Construction
Ane
Condition
Above Grade
Room Count
Gross Uvinn Area
Basement & Finished
Rooms Below Grade
functional Utililv
Heatinn/Coolina
Enerav Efficient ttems
GaraaeJCamort
Porch, Patio, Deck,
Rrenlacel s \ etc.
Fence Pool etc.
Functional
=$
External
+2 500
-5 000
-2 500
-2,500
-9 300
-2 000
+2 000
16800
ITEM
Date, Price and Data
Source, for prior sales
wnhin year of annralsal
Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables wnhin one year of the date of appraisal:
The subiect is not currentlv offered for sale or under an aareement of sale. No Drior sales within three vears.
Inspection
NA
SUBJECT
Not in the last
year.
COMPARABLE NO.1
Not in the last
year.
COMPARABLE NO.2
Not in the last
year.
COMPARABLE NO.3
Not in the last
year.
INDICATED VALUE BY SALES COMPARISON APPROACH .______.... ...... $ 149.000
INDICATED VALUE BY INCOME APPROACH (if ADDlicable\ --E~urna~ll Miirket Rent -- --~. NA '/lAo. x Gro~s R~nt Multinlier NA ~ !t NA
This appraisal is made [:gJ 'as is' 0 subject to the repairs, alterations, inspections or conditions listed below 0 subject to completion per plans & specWications.
Condl1lOlls of Appraisal: If Drooertv is sold subiect to satisfactory termite and radon certifications with aDDraised value based on clear test results.
Final Reconciliation: Insufficient market data was available to Drocess the Income ADnroach. The Cost Annroach is considered and used as a
check for this annraisal and tvoicallv sets the uooer limit of value. The Sales Comoarison Annroach is deemed most reliable and aiven areatest
weioht.
The purpose of this appraisal is to estimate the market value of the real property that is the subject of 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 Form 439/FNMA form 1DD4B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORn TO BE $ 149,000
~PRAISE~ J. c=:: I SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Slanature ~ ~ Sianature
Name Dennis L. Stover Name
Date ReDort Sianed 1-16-06 Date ReDort Sianed
State Certification # PA Certified Residential Real Estate Appraiser State PA State Certification #
Or State license # Certification Number: RL 138906 State PA Or State license #
Freddie Mac Form 70 6193
o Did 0 Did Not
Inspect Property
PAGE 2 OF 2
Form UA2 - 'WinTOTAL' appraisal software by a la mode, inc. -1-80D-AlAMODE
Fannie Mae Form 1004 6-93
State
State
. .
APPRAISAL OF REAL PROPERTY
LOCATED AT:
1700 Dlghton St
Deed Book 00310 Page 00022
Camp Hill, PA 17011-3942
FOR:
The Estate of Betty G. Binkley
Johnson, Duffie, Stewart. & Weidner, P. C.
Lemoyne, PA 17043-0109
AS OF:
11-7-05
BY:
Dennis L. Stover
PA Certified Residential Real Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1 - 'WinTOTAL' appraisal software by a la mode, inc. -1-BOO-ALAMODE
, .
SUMMARY OF SALIENT FEATURES
Subject Address 1700 Dighton St
Legal Description Deed Book 00310 Page 00022
City Camp Hill
County Cumberland
State PA
Zip Code 17011-3942
Census Tract 42041-0105.00-2
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower I Client NA
Lender The Estate of Betty G. Binkley
Size (Square Feet) 988
Price per Square Foot $
Location Suburban
Age 50
Condition Avg
Total Rooms 5
Bedrooms 2
Baths 1
Appraiser Dennis L. Stover
Date of Appraised Value 11-7-05
Final Estimate of Value $ 137,000
Form SSD - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
File No. 5-1201 R-17
Cumberland
State PA
ZI Code 17011-3942
APPRAISAL AND REPORT IDENTIFICATION
This appraisal confonns to OM of the following definitions:
~ Complete Appraisal (The act or process of estimating value, or an opinion of value, perfonned without Invoking the Departure Rule.)
o Limited Appraisal (The act or process of estimating value, or an opinion of value, perfonned under and resulting from Invoking the
Departure Rule.)
This report is one of the following types:
[J Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal perfonned under STANDARD 1.)
[Z] Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal perfonned under STANDARD 1.)
[J Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal perfonned under STANDARD 1
for client use only.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
. The statements of fact contained in this report are true and correct.
. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal
interest with respect to the parties involved.
. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
. My engagement in this assignment was not contingent upon developing or reporting predetennined results.
. My compensation for completing this assignment is not contingent upon the development or reporting of a predetennined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
. My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the subject property.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3. 1-4, plus any USPAP-related issues requiring disclosure:
APPRAISER:
Signature: ~ 1. s;i:::
Name: Dennis L. Stover
Date Signed: 1-16-06
State Certification #: PA State Certified Residential Real Estate Appraiser
or State License #: Certification Number: RL 138906
Slate: PA
Expiration Dale of Certification or License: 6/30/2007
SUPERVISORY APPRAISER (only If required):
Signalure:
Name:
Dale Signed:
Slate Certificalion #:
or Slale License #:
Slale:
Expiration Date of Certification or License:
[J Did
[J Did Not Inspect Property
GEORGE CLAUSER
Form ID2 - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE
""'" IlMcrlnllon File No. 5-1201 R-17
ProDertv Address 1700 Diahton St CiIv Camp Hill State PA Zin Code 17011-3942
LeDal DescrlDUon Deed Book 00310 Paae 00022 Counlv Cumberland
Assessor's Parcel No. 01-20-1854-238 TaxYear 05-06 R.E. Taxes i 1 326 Snecial Assessments t NA
Borrower NA Current Owner The Estate of Betty G. Binklev OCCUDant: r 1 Owner IX'! Tenant il Vacant
ProoerIY rlohts aooralsed [)(] Fee Simole I Leasehold Proiect Tvoe I PUD I I Condominium IHUDNA onlvl HOA ~ NA /Mo.
Nelohborhood or Proiect Name Camp Hill BorouQh Mao Relerence 25420 Census Tract 42041-0105.00-2
Sale PrIce ~ NA Date 01 Sale NA Descr1oUon and $ amount 01 loan chames/concesslons to be nald bv seller NA
Lender/Client The Estate of Bettv G. Binklev Address Johnson Duffie Stewart & Weidner P. C., 501 Market St.. Lemovne PA 170.
Aooraiser Dennis L. Stover Address P. O. Box 777 Camp Hill PA 17001-0777
LocaUon U Urban ~ Suburban U Rural Predominant -~'tr IBmIIy hOU~~ Present land use % Land use change
Built up DOver 75% ~ 25-75% 0 Under 25% occupancy PRI AG One lamily ~ o Not likely [J Likely
$(000) (yrs)
Growth rate o Rapid ~ Stable o Slow ~ Owner 70 Low~ 2-4lamily ~ ~ In process
Property values ~ Increasing o Stable o Declining n Tenant 850 Hioh 150 Multi-Iamily ~ To: vacant land to
Demand/supply ~ Shortage 0 In balance 0 Over supply ~ Vacant (0-5%) p~ Predominant I1U Commercial 5 residential develooment
MarkeUna time [Xi Under 3 mos. Fi 3-6 mos. Fi Over 6 mos. rl Vac.lover 5%1 145 25 Vacant 15
NollI: RaclI and Ihll racial composlllon of Ihll nlllghborhood arll nol appraisal faclors.
Neighborhood boundaries and characteristics: The subiect neiahborhood consists of the Borouah of Camp Hill in Cumberland County. PA.
Factors that affect the marketability 01 the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
The prooerlv beina valued is located alona the north side of Diahton St. Shoppina. schools and churches are located within 5-10
minutes of the property. Full service shoppina is available at the Camp Hill and Capital City malls aooroximatelv 5-10 minutes. Public school
students attend the Camp Hill School District. Employment centers are located in Harrisbura. Camo Hill York and Mechanicsbura.
Market conditions in the subject neighborhood (including support lor the above conclusions related to the trend 01 property values, demand/supply, and marketing time
-- such as data on competitive properties lor sale in the neighborhood, description 01 the prevalence 01 sales and financing concessions, etc.):
Market conditions in the subiect neiohborhood are considered moderatelv active with low mortaaae Interest rates beino the primarv catalvst.
Sales in recent weeks have been moderately active. Approximately 5 houses of various sMes are for sale within 5 miles and are in competition
with the subiect. Tvolcal financing for residential properties includes 80% to 90% loan, 1-3 DOints, 5.5-6.5% mortaaoe interest rates for uo to 30
vears. Tvoical marketing time is between 90 and 180 days.
Project Inlormatlon for PUDs (if applicable) - - Is the developer/builder in control 01 the Home Owners' AssociaUon (HOA)? DYes D No
Approximate total number 01 units in the subject project Approximate total number 01 units lor sale in the subject project
Describe common elements and recreational facilities:
Dimensions From County Records Topography Ava
Site area .16 Acres Comer Lot ~ Yes o No Size Ava
Specific zoning classification and description R-2 Limited Multiple Familv Shape Rectanaular
Zoning compliance ~ Legal D Legal nonconlorming (Grandlathered use) U Illegal [J No zoning Drainage Ava
Hlohest & best use as Imnmved: rX1 Present use r l Other use lexolaln) View Ava
Utilities Public Other OfI-slte Improvements Type Public Private Landscaping Ava
Electricity ~ Street Macadam ~ 0 Driveway Surface NA
Gas DNA Curb/gutter Concrete ~ D Apparent easements None Known
Water ~ Sidewalk Concrete ~ D FEMA Special Flood Hazard Area DYes [8J No
Sanitary sewer ~ Street lights Incandescent [8J R FEMA Zone C Map Date 12/11/1981
Storm sewer AIIev None I l FEMA Man No. 4203570001 B
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): There are no
aooarent easements encroachments special assessments slide areas or illeaal or leaal nonconformina uses known.
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units One Foundation ConcrBlock Slab 0 Area Sq. Ft. 988 Rool _D
No. of Stories One Exterior Walls Brick Crawl Space 0 % Finished 31% Ceiling ~ ~
Type (Det./Att.) Detached Rool Surface FG/Shnal Basement 100% Ceiling Sus/Ooen Walls ~ ~
Design (Style) Ranch Gutters & Dwnspts. Aluminum Sump Pump None Walls Pan/Blk Floor ~~
Existing/Proposed Existing Window Type DblHung Dampness No Evidence Floor Con/Cot None _ D
Age (Yrs.) 50 Storm/Screens Screens Settlement No Evidence Outside Entry NA Unknown_ []
Effective Aoe lYrs.1 15 Manufactured House No Infestation No Evidence Floor Drain
ROOMS Faver Livino Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other Area So. Ft.
Basement 1 Stor/Mech 988
Level 1 1 1 1 2 1 988
Level 2
Finished area above orade contains: 5 Rooms' 2 Bedroomlsl: 1 Bath/sl: 988 Sc uare Feet 01 Gross Livlno Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Floors HdwNin Ava Type FWA Refrigerator D None D Fireplace(s) # ~ D None D
Walls Drywall Ava Fuel Oil Range/Oven ~ Stairs U Patio NA D Garage # 01 cars
Trim/Finish Wood Ava Condition Avg Disposal D Drop Stair [8J Deck NA D Allached NA
Bath Roor Vinvl Ava COOLING Dishwasher ~ SculUe D Porch NA D Detached ~-
Bath Wainscot Flberolass Avg Central NA Fan/Hood [8:] Floor D Fence NA D Built-In NA
Doors Wood Ava Other C Fans Microwave i-I Heated R Pool NA R Carport NA
Kftchen Floor: Vinvl-Avo Condition Ava WasherlDrver j=i Finished Drivewav NA
Additionalleatures (special energy efficient Items, etc.): Dwellina aooears to be well maintained with aood housekeeoina.
Condition 01 the improvements, depreciaUon (physical, lunctional, and external). repairs needed, quality 01 construction, remodeling/additions, etc.: Subiect Is a
stvle dwellina in average condition with a car oaraoe. Physical: Depreciation due to aae and condition. Functional: None External: No
adverse locatlonal features noted.
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the sile, or in the
Immediate vicinity 01 the subject property.: None Known - appraiser is not Qualified to detect such substances. If the house is sold, termite and
radon certifications are suaaested. Houses built before 1978 may contain lead base paint.
Freddie Mac Form 70 6/93
GEORGE CLAUSER
UNIFORM RESIDENTIAL APPRAISAL REPORT
Summary Report
PAGE 1 OF 2
Form UA2 - "WinTOTAL' appraisal soltware by a la mode, inc. -1-BOO-ALAMODE
Fannie Mae Form 1004 6/93
Summary Report
UNIFORM RESIDENTIAL APPRAISAL REPORT FileNo. 5-1201 R-17
Comments on Cost Approach (such as, source of cost estimate, site value,
square foot calculation and for HUD, VA and FmHA, the estimated remaining
economic life of the property): "The reoort reauests the
Renroductlon Cost aooroach which requires the construction of
an exact reolica includinQ the same materials methods and
workmanshio and must include any existina functional
obsolescence. This would be misleadina and makes this method
misleadina. The ReDlacement Cost aooroach miaht be more
=$ annronriate but it requires reolacement usino modern materials
. =$ methods and workmanshio, olus the elimination of any oresent
=$ functional deoreciation. This too would be misleadina. and the
.......... .. -=s Cost AcDroach Is therefore misleadina."
COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
1704 Dighton St. 1925 Enfield St. 1914 Enfield St.
Camo Hill Camo Hill Camp Hill
Less than .01 mile NW 0.14 miles SW 0.13 miles SW
NA Is 140000 1$ 135,900 1$
rtJls 141.70 rtJl $ 117.36 rtJl ~ 122.66 rtJl
CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor
NA NA NA
DESCRIPTION +1-\$ Adiust. DESCRIPTION +( -)$ Adjust. DESCRIPTION: +(-)$ Adlust.
Conventional Conventional Conventional
None Known Seller HelD -1359 None Known
8/26/05 MT 3 9/12/05 MT 11 3/18/05 MT 6
Suburban Suburban Suburban Suburban
Fee Simole Fee Simole Fee Simole Fee Simole
.16 Acres Acres Acres .11 Acres
Ava Eaual -t Eoual Equal
Ranch Ranch Ranch' Ranch
Ava Avo Avo AVQ
~ ~ ~ G
Ava Equal Eoual Equal:
Total: Bdrms: Baths Total: Bdrms: Baths : Total: Bdrms: Baths : Total: Bdrms: Baths :
5 : 2 : 1 5 2 1 6 2 1 6 : 3 : 1.5 :
988 Sn. Ft. 988 Sn. Ft. : 0 1 158 Sa. Ft. -1 700 1 059 So. Ft. :
Full Part Finished Full Unfinished Full Unfinished Full Part Finished :
31 % StoraQe +2.000 Storaoe +2,000 FR/StoraQe
Avn Ava Ava Avo:
OFWAlNo CA OFWAlCA -3.000 OFWAlNo CA OFWAlNo CA :
Insulation Insulation Insulation Insulation:
NA NA NA NA:
NA Porch/Patio -1,000 Porch/Patio -1.000 Porch/Patio/Deck:
NA NA : 1 FP -2 000 1 FP
NA Fence -500 NA Fence
NA NA NA NA
NetAdi.ltotall rl+ rxI-:~ 2500 rl+ rxI-:$ 4059 rl+ LKl-:s
Adjusted Sales Plice I I I
of Como arable I~ 137500 Is 131841 Is 128690
Comments on Sales Compalison (including the subject property's compatibility to the neighborhood, etc.): Sales used were all reasonably similar stvle
dwellinos in the same neiohborhood and subiect to reasonablv similar amenities. Adiustments were based on market extraction and/or
iudament. The indicated value ranae on the above arid extends from $128 690 to $137,500. The indicated market value is estimated to be less
than the uooer end of the value ranoe and at $137 000. Prooertv is currentlv beina used as a rental, with the rent beina $735/mo.
......-- ~_....._-
.= $
ESTIMATED SITE VALUE .
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:
Dwelling 98B Sq. Ft. @$ = $
988 Sq. Ft. @$ =
Garage/Carport L- Sq. Ft. @$
Total Estimated Cost New
Less Physical
Depreciation I
Depreciated Value of Improvements
'As-is" Value of Site Improvements
INDICATED VALUE BY COST APPROACH
ITEM I SUBJECT
1700 Dighton St
Address Camo Hill
Proxlmltv to Subiect
Sales Plice $
Plice/Gross Livina Area $
Data and/or
Velification Source
VALUE ADJUSTMENTS
Sales or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simole
Site
View
Desion and Aooeal
Qualltv of Construction
Aae
Condition
Above Grade
Room Count
Gross Livina Area
Basement & Finished
Rooms Below Grade
Functional Utilltv
Heatino/Coolino
Enemv Efficient items
Garaoe/Camort
Porch, Patio, Deck,
Fireolace(sl etc.
Fence Pool etc.
-.... = $
Functional External
Inspection
NA
DESCRIPTION
SUBJECT
Not Applicable
COMPARABLE NO. 1
Not Applicable
COMPARABLE NO.3
Not Applicable
129 900
+5 000
-1,500
-710
-1,500
-2 000
-500
1,210
ITEM
Date, Plice and Data
Source, for prior sales
within year of aooralsal
Analysis of any current agreement of sale. option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the dale 01 appraisal:
The subiect is not currentlv offered for sale or under an aoreement of sale. No nrlor sales within three vears.
COMPARABLE NO.2
Not Applicable
INDICATED VALUE BY SALES COMPARISON APPROACH $ 137 000
INDICATED VALUE BY INCOME APPROACH In Annlicable\ .. Estimated M~k~tR~~t.."$. ...... .NA...... .iM~.'.~.G;~~~'R~~i M~~~li~;.' NA -= s NA
This appraisal is made IZI 'as is' [J subject 10 the repairs, aiterations, inspections or conditions listed below U subject to completion per plans & specifications.
Conditions of Appraisal: If property is sold, subiect to satisfactory termite and radon certifications with appraised value based on clear test results.
Final Reconciliation: Insufficient market data was available to orocess the Income Aocroach. The Cost Approach is considered and used as a
check for this aooraisal and tvolcallv sets the uooer limit of value. The Sales ComDarison Aooroach is deemed most reliable and aiven oreatest
weioht.
The purpose of this appraisal is to estimate the market value of the real property that Is the subject of 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 Form 439/FNMA form 1004B (Revised 6-93 ).
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OFTHIS REPORT, AS OF 11-7-05
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 137,000
A."PRAISEa:-u 5-6 S~PERVlSORY APPRAISER (ONLY IF REQUIRED):
Slanature 1 Slanature
Name Dennis L. Stover Name
Date Reoort Sianed 1-16-06 Date Report Sianed
State Certification # PA State Certified Residential Real Estl State PA State Certification #
Or State License # Certification Number: RL 138906 State PA Or State License #
Freddie Mac Form 70 6/93
PAGE 2 OF 2
Form UA2 - 'WinTOTAL' appraisal software by a la mode, inc. -1-BOO-ALAMODE
D Did D Did Not
Inspect Property
Fannie Mae Form 1 004 6-93
State
State
*
I f
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
21 - 05 - 01018
ESTATE OF BINKLEY, BETTY G.
ITEM DESCRIPTION OF PROPERTY DATE OF DEATH %OF EXCLUSION TAXABLE VALUE
NUMBER Include the name of the transferee, their relationship to decedent VALUE OF ASSET DECO'S (IF APPLICABLE)
and the date of transfer. Attach a copy of the deed for real estate. INTEREST
1 Sovereign Bank - Money Market Account 10,518.78 10,518.78
NO.1 051 079187 - In Trust for Mark D. Binkley,
Grandson - Date of death balance, plus accrued
Dividend.
2 Pennsylvania State Employees Credit Union- 5,413.97 5,413.97
Share Account No. 8680690156 - S 01 - In Trust for
James G. Binkley, Son - Date of death balance, plus
accrued dividend.
3 Pensylvania State Employees Credit Union 1,100.87 1,100.87
Share Account No. 8680690156 - S 04 - In Trust for
James G. Binkley, Son - Date of death balance, plus
accrued Dividend.
4 PNC Bank - Checking Account No. 5004696642 - 18,964.49 3,000.00 15,964.49
decedent and James G. Binkley, Son
Established 3/16/2005
TOTAL (Also enter on line 7, Recapitulation) 32,998.11
This schedule must be completed and filed if the answer to any of questions 1 through 4 on page 2 Is yes.
W'
. f
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCI-EDUl.E H
FUNERAL EXPENSES &
AIl\IMSTRA11VE COS1S
ESTATE OF BINKLEY, BETTY G.
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER FUNERAL EXPENSES:
A. 1 Musselman Funeral Home - funeral expenses
2
Cafe Magnolia - funeral meal
3
Royer's Flowers
B.
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
1.
DESCRIPTION
Social Security Number(s) I EIN Number of Personal Representative(s):
2.
Street Address
City
Year(s) Commission paid
Attomey's Fees Johnson, Duffie
State
Zip
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City
Relationship of Claimant to Decedent
State
Zip
4.
Probate Fees
Register of Wills - Cumberland County
5. Accountant's Fees
6. Tax Retum Preparer's Fees
7. Other Administrative Costs
1
Cumberland Law Journal- advertise letters
Total of Continuation Schedule(s)
TOTAL (Also enter on line 9, Recapitulation)
FILE NUMBER
21 - 05 - 01018
AMOUNT
8,617.50
318.78
318.00
55,000.00
2,895.00
75.00
25,358.91
92,583.19
.'
I .
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
Schedule H
FunemI Expenses &
Mtinistrative Costs con&1ued
I FILE NUMBER
21 - 05 - 01018
2
ESTATE OF BINKLEY, BETTY G.
The Patriot-News - advertise letters
126.27
3
4
5
6
10
11
12
13
14
15
16
17
18
19
Register of Wills - 17 Short Certificates @ $4.00 each
68.00
Register of Wills - File Inventory and Inheritance Tax Return
30.00
Chuck Bricker - household goods appraisal
80.00
Clauser Real Estate Appraisals - Cumberland County - 21 Appraisals
11.875.00
7
Carney & Ruth - Erie County present owner searches.
381.75
8
Sherry A. Simons - Erie County appraisals
750.00
9
Register of Wills - file Disclaimer
30.00
Costs: Sale of 345-349 Herman Avenue, Lemoyne, PA - 1 % Transfer Tax.
2.090.00
Register of Wills - Exemplified copy of Letters of Administration
15.00
Prudential Advantage Realty - Commission - Sale of 934 N. Center St.
Erie County, Corry, PA
2,760.00
Recorder of Deeds - Erie County - 1 % Transfer Tax - Sale of 934 N. Center St.,
Corry, PA
460.00
Joan M. Fairchild, Esq., charge for filing Exemplified Copy of Letters of Administration
- Estate of Betty G. Binkley - sale of 934 N. Center St.
20.00
Recorder of Deeds - Recording Deeds & Affidavits of Value -
Distribution Deeds
404.00
Cost - Sale of 219 Herman Avenue, Lemoyne, PA - 1% Transfer Tax
1,330.00
Cost - Sale of 119-121 S. Third Street, Lemoyne, PA - 1% Transfer Tax
1,254.00
PP&L - electric service - decedent's residence - 424 Hummel Ave.
102.80
PA American Water Co. - water service - decedent's residence - 424 Hummel Ave.
85.63
Page 2 of Schedule H
w'
, t
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
Schedule H
FmeraI ExpeIISeS &
Adninistrative Costs continued
ESTATE OF BINKLEY, BETTY G.
I FILE NUMBER
21 - 05 - 01018
20
Keystone Oil- oil deliveries - decedent's residence - 424 Hummel Ave.
966.22
21
Keystone Oil- Servicing & Cleaning furnace - decedent's residence - 424 Hummel
Ave.
185.00
22
Borough of Lemoyne - sewer/trash - decedent's residence - 424 Hummel Ave.
160.00
23
Grange Mutual Insurance - homeowner's insurance - 424 Hummel Ave.
158.00
24
Faith A. Nicola, Tax Collector - Borough/County real estate taxes - 424 Hummel Ave.
539.24
25
Mark Whitcomb - labor and supplies - repairs to cracks in ceilings and walls/water
marks from roof leaks at decedent's residence - 424 Hummel Ave.
1,238.00
26
Reserve for close-out costs.
250.00
Page 3 of Schedule H
.
*. "
SCHEDULE I
DEBTS OF DECEDENT, MORTGAGE
LIABILITIES, & LIENS
COMMONWEAlTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
21 - 05 - 01018
ESTATE OF BINKLEY, BETTY G.
Include unreimbursed medical expenses.
ITEM
NUMBER
1
2
3
4
5
6
7
DESCRIPTION
AMOUNT
Messiah Village - decedent's account - October 2005 - $7,088.90;
November 1,2005 - November 6,2005 - $1,344.00.
8,432.90
Internal Revenue Service - decedent's 2005 estimated income tax payment
16,435.00
PA Department of Revenue - decedent's 2005 estimated income tax payment
2,476.00
Kern and Company - preparation of decedent's 2005 Federal and State income tax returns
1,180.00
Checks that cleared after death - M& T Bank - Account No. 10595872:
Check No. 4267 - Carpet Mart - $1,850.51; Check No. 4509 - Foremost Insurance - $34.00;
Check No. 4511 - PP&L - $20.57; Check No. 4512 - Free Flow - $195.00; Check No. 4513-
Johnson, Duffie - $120.00; Check No. 4514 - Keystone Oil- $65.00; Check No. 4515 - Megan
Berkheiser - $543.25; Check No. 4516 - Joe Zimmerman - $270.17.
3,098.50
PA Department of Revenue - tax due on decedent's 2004 tax return after audit.
363.06
Inheritance Tax due to the PA Department of Revenue-
Estate of Mary Ann Kibler - Date of Death -January 12, 2005
No. 25-05-00119 - Erie County, PA
Assets jointly owned by Mary Ann Kibler and Betty G. Binkley, sisters, as Jt.
Tenants with Right of Survivorship.
15,610.55
8
Federal Estate Tax due to the U. S. Treasury (IRS) - Assets owned jointly by Mary Ann Kibler
and Betty G. Binkley, Sisters.
Estate of Mary Ann Kibler - Date of Death - January 12, 2005
Social Security Number - 349-30-9757
97,384.51
TOTAL (Also enter on Line 10, Recapitulation)
144,980.52
.
, . f
~\W
RECEIPT - PENNSYLVANIA INHERITANCE TAX
RECEIVED from the ESTATE OF BETTY G. BINKLEY Check Number
1080
m the amount of Twenty-Nine Thousand One Hundred Twenty-Nine and 43/100 ($29,129.43)
Dollars in payment of the Pennsylvania hlheritance Tax due the Estate of Mary Ann Kibler based on the
Jointly Owned Property reported on Schedule F of REV-ISDD - Pennsylvania Inheritance Tax Return to
be filed for the Estate of Mary Ann Kibler - File Number- 25-05-00119.
The amount due represents payment as follows:
Estate of BettY G. Binklev - Fifteen Thousand Six Hundred Ten and 55/1 00 ($15,610.55)
Dollars.
.1$lmes G. 8inkley - Seven Tholls~nd Six Hundred Seventy-Eight and 75/100 ($7.678.75)
Dollars.
David W. Binklev - Five Thousand Eight Hundred Forty and 13/1 00 ($5,840.13) Dollars.
PN'C ADVISORS
Executor of the Will of Mary Ann Kibler
BY~~
..JE.FfftEy.J:. -;''7;;?vu-IIGA!-E
~? v,C.E.. r~S/jjE/v'T
DATED: APRIL Ie; , 2006
. .
.
. I ,
~@Fl1
RECEIPT - FEDERAL EST ATE TAX
RECEIVED fram the ESTATE OF BETTY G. BINKLEY Check Number 1079
in the amaunt .of One Hundred Seventy-Four Thousand Two Hundred Forty-Three and 56/100
($174,243.51) Dn!larn in payment of the Federal Estate Tax duethe Estate of~.1a!"'j Ann Kibler based on
the Jaintly Owned Praperty reparted an Schedule E .of the Farm 706 - Federal Estate Tax Return to be
filed far the Estate .of Mary Ann Kibler - Sacial Security Number 349-30-9757.
The amaunt due represents payment as fallaws:
Estate of Betty G. Binklev - Ninety-Seven Thausand Three Hundred Eighty-Four and 51/1 00
($97,384.51) Dallars.
James G. Binklev - Forty-Two Thousand Seven Hundred Forty-three and 34/J 00 ($42,743.34)
Dollars.
David W. Binklev - Thirty-Faur Thausand One Hundred Fifteen and 71/100 ($34,115.71)
Dallars.
PNC ADVISORS
Executor of the Will of Mary Ann Kibler
BY: ~ _LO
.....; E-FFI'i2Ef ..:T.~ :::;. 2(..&LIIGA-LE
:;,,(.Vo, CE /,~2'.E~/.bE/",'T
DATED: APRIL / iJ ,2006
EV-1613 EX+ (9-00)
*'
f', I ~
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE J
BENEFICIARIES
ESTATE OF
BINKLEY, BETTY G.
I FILE NUMBER
21 - 05 - 01018
RELATIONSHIP TO AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY DECEDENT OF ESTATE
Do Not List Trust..(s)
I. TAXABLE DISTRIBUTIONS (include outright spousal distributions)
1 James G. Binkley Son One-half Residue;
264 Blacksmith Road, Camp Hill, PA 17011 Jointly owned
property
2 David W. Binkley Son One-half Residue:
103 Foxfire Lane, Lewisberry, PA 17339 Jointly owned
property.
3 Helen G. Zajicek Sister Survivor - Jointly
615 Taney Ave., Frederick, MD 21701 Owned Property
See Continuation Schedule(s) attached
Enter dollar amounts for distributions shown above on lines 15 through 18, as appropria e, 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
*
.. . .
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE J
BENEFICIARIES continued
ESTATE OF
BINKLEY, BETTY G.
I FILE NUMBER
21 - 05 - 01018
RELATIONSHIP TO AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY DECEDENT OF ESTATE
Do Not List Trust..(s)
I. AXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116(a)(1.2)]
4 Mark D. Binkley - C/O David W. Binkley Grandson In Trust for Account.
103 Foxfire Lane, Lewisberry, PA 17339
5 John Gentilman, Sr. Brother Survivor - Jointly
216 Chestnut St., Kane, PA 16735-1603 owned Property.
Page 2 of Schedule J