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HomeMy WebLinkAbout06-09-06 -.J 15056051058 REV-1500 EX (06-05) PA Department of Revenue Bureau of Individual Taxes PO BOX 280601 Harrisburg, PA 17128-0601 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death INHERITANCE TAX RETURN RESIDENT DECEDENT OFFICIAL USE ONLY County Code Year File Number c9-( 06 4~3 DElte of Birth 172-28-1408 03/07/2006 08/17/1935 Decedent's Last Name Suffix Decedent's First Name MI Boyle Carl J (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number FILL IN APPROPRIATE OVALS BELOW . 1. Original Return THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS 2. Supplemental Return 3. Remainder Return (date of death prior to 12-13-82) 5. Federal Estate Tax Return Required . 4. Limited Estate 4a. Future Interest Compromise (date of death after 12-12-82) 7. Decedent Maintained a Living Trust (Attach Copy of Trust) 10. Spousal Poverty Credit (date of death 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number . 6. Decedent Died Testate (Attach Copy of Will) 9. Litigation Proceeds Received . o . 8. Total Number of Safe Deposit Boxes Darren P Boyle Firm Name (If Applicable) (814) 262-2774 c-.. , , ") - REGISTER QF,'^'iLLS USE ~~LY First line of address 1132 McKinley Ave ! '..::J Second line of address City or Post Office State ZIP Code DATE FILED i~" OJ Johnstown PA 15905 Correspondent's e-mail address: Under penalties of per] I declare that I have examined this return, includjng accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and om lete. Declaration f pr parer other than the personal representative is based on all information of which preparer has any knowledge. ~~/-O~ n, PA 15905 PLEASE USE ORIGINAL FORM ONLY DATE b " J 06 L 15056051058 Side 1 . 15056051058 --.J ~ ~ -.J 15056052059 REV-1500 EX Decedent's Name: Carl J Boyle RECAPITULATION 1. Real estate (Schedule A). 2. Stocks and Bonds (Schedule B) . . . 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) 3. 4. Mortgages & Notes Receivable (Schedule D) . 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) 6. Jointly Owned Property (Schedule F) Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G)' Separate Billing Requested. . . . 8. Total Gross Assets (total Lines 1-7). 9. Funeral Expenses & Adminisjrative 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) . . . . . . . . . . 13. Charitable and Govemmen.tal 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) . . . TAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) XO_ 16. Amount of Line 14 taxable at lineal rate X.O 45 345.685.79 17. Amount of Line 14 taxable at sibling rate X .12 18. Amount of Line 14 taxable at collateral rate X .15 19. TAX DUE. . . .....1'0. ........11. 12. 13. . . . . . . 14. 15. 16. 17. 18. . . . 19. 20. FILL IN THE OVAL IF YOU ARE REQUESTING /!( REFUND OF AN OVERPAYMENT L 15056052059 Side 2 172-28-1408 Decedent's Social Security Number 1. 2. 4. 5. 6. 7. 8. 9. 15056052059 33,545.84 3,100.00 14,570.44 306,990.51 358,206.79 8,377.00 4,144.00 12,521.00 345,685.79 345,685.79 15,555.86 15,555.86 -.J REV-1500 EX Page 3 File Number Decedent's Complete Address: DECEDENT'S NAME Carl J Boyle STREET ADDRESS 504 Front 5t 06 DECEDENT'S SOCIAL SECURITY NUMBER 172-28-1408 CITY Enola -STATE PA ZIP 17025 Tax Payments and Credits: 1. . Tax Due (Page 2 Line 19) 2. Credits/Payments A. Spousal Poverty Credit 8. Prior Payments C. Discount (1) 15,555.86 777.79 3. InteresVPenalty if applicable D. Interest E. Penalty Total Credits ( A + 8 + C ) (2) 777.79 TotallnteresVPenalty ( D + E ) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 0.00 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. . (5) A. Enter the interest on the tax due. 14,778.07 8. Enter the total of Line 5 + SA. This is the BALANCE DUE. (SA) (58) 14,778.07 Make Check Payable to: REGISTER OF WILLS, AGENT f.: 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;.......................................................................................... ~ 0 b. retain the right to designate who shall use the property transferred or its income; ............................................ ~ 0 c. retain a reversionary interest; or.......................................................................................................................... [i] 0 d. receive the promise for life of either payments, benefits or care? ...................................................................... [i] 0 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 "in 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. For dates of death on or after July 1, 1994 arid before January 1, 1995, the tax rate imposed on the net valu" nf4.- . is three (3) percent [72 P.S. 99116 (a) (1.1) (i)]. For dates of death on cr after January 1, .1995, the tax rate imposed on the net valu'e of transfers to or fOI [72 P.S. 99116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and thE filing a tax return are still applicable even if the. surviving spol!se is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transters from a deceased, child twenty-one years of age or youngE adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. 99116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is fc 72 P.S. 99116(1.2) [72 P.S. 99116(a)(1)]. ng spouse ~~c\ 1} 15". oC ~'\. ...~ lP -<;' -o1.....t) 1) percent ;sets and rent, an ,"~I flC1l,;ent, except as noted in The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. 99116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. COMMONWEALTH OF PENNSYLVANIJ>. INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE B STOCKS & BONDS ESTATE OF Carl J Boyle FILE NUMBER All property jointly-owned with right of survivorship must be disclosed on Schedule'F. ITEM NUMBER 1. DESCRIPTION 864.787 Shares @ $2,1.26 Tamarac~ Microcap Value S TMVSX Cusip 87505V660 491.744 Shares @$30.83 Tamarack Enterprise Small Cap S TEESX Cusip 87505V710 .. VALUE AT DATE OF DEATH 18,385.37 2. 15,160.47 .. TOTAL (Also enter on line 2, Recapitulation) $ 33,545.84 .. (If more space is ne~ded, insert additional sheets of the same size) .. REV-15G8 EX+ 16-98) SCHEDULE E CASH, BANK DEPOSITS, & MISe. PERSONAL PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Carl J Boyle FILE NUMBER ITEM NUMBER Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. DESCRIPTION VALUE AT DATE OF DEATH 1. 99 Toyota Camry 94,000 Miles Condition Fair Vehicle ID#JT2BG22K4X0373494 (Blue Book Trade In) 3,100.00 .. .. TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 3,100.00 REV-1509 EX+ (6-98) ~ SCHEDULE F JOINTLY-OWNED PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Carl J Boyle FILE NUMBER 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 A. Darren P Boyle 1132 McKinley Ave Johnstown, PA 15905 Son B. C ~ JOINTLY-OWNED PROPERTY: LETTEH DATE DESCRIPTION OF PROPERTY Of DATE OF DEA fH iTEri fOR JOINT MADE INCLUDE IH,ME Of FINANCAL INSTITUTiON AND BANK ACCOUNT NUMBER elf< SIMiAR DATE OF DEATH DECO'S VALUE OF NUMBER TENANT JOINT iDENTiFYING NUMBER. ArTACH DEED FOR JOINTLY-HELD REAL EST.ATE VALUE Of ASSEr iNTEREST DECEDENT SIN] EREST 1. A. 06/01/92 829.248 Shares @ $29.74 American Century Ultra Cusip 025083882 24,661.84 50 12,330.92 2. A. 01/01/92 307.415 Shares @ $14.57 Columbia Mid .Cap Val Cusip 19765J830 4,4 79.04 50 2,239.52 , . .. . , TOTAL (Also enter on line 6, Recapitulation) $ 14.570.44 (If more space is needed, insert additional sheets of the same size) REV-1510 EX+ (6-98) f. * COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G . INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY ESTATE OF Carl J Boyle This schedule must be completed and filed if the answer to any of questions 1 thl()ugh 4 on the reverse side of the REV-1500 COVER SHEET is yes. FILE NUMBER DESCRIPTION OF PROPERTY DATE OF DEATH % OF DECD'S EXCLUSION TAXABLE ITEM INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND NUMBER THE DATE OF TRANSFER 'ATTACH A COPY oF"nlE DEED FOR REAL ESTATE VALUE OF ASSET INTEREST (IF APPLICABLE) VALUE 1. PSECU Regular Checking Account Acct# 8505748775 #ID 01 6,430.92 100 0.00 6.430.92 Carl J Boyle Trust 3/7/06 .. 2. PSECU Vacation Account Acct# 8505748775 #ID 02 253.22 100 0.00 253.22 Carl J Boyle Trust 3/7/06 3. PSECU Checking Acct# 8505748775 #ID 04 163.94 100 0.00 163.94 Carl J Boyle Trust 3/7/06 4. PSECU 60 Month Certificate of Deposit IRA 4.5% 28,561.88 100 0.00 28,561.88 Carl J Boyle Trust 3/7/06 Acct # 8505748775 #ID 50 5. PSECU 60 Month Certificate of Deposit IRA 4.5% 68,228.91' 100 0.00 68,22891 Carl J Boyle Trust 3/7/06 Acct# 8505748775 #ID 63 6. Diocese of Harrisburg Certificate of Deposit Acct# 01-03901 40,261.70 100 0.00 40,26170 Carl J Boyle Trust 3/7/06 7. Members 1st FCU Regular Savings Account Acct# 272351 25.00 100 0.00 25.00 Carl J Boyle Trust 3/7/06 8. Members 1st FCU Certificate of Deposit Acct# 272351 20,329.47 100 0.00 20,329.47 Carl J Boyle Trust 3/7/06 9. Member~ 1st FCU Certifica!e of Deposit Acct# 272351 . 20,305.47 100 0.00 20.305.47 Carl J Boyle Trust 3/7/06 10. Residence & Rental Units 502/504/506 Front'St Enola, PA 17025 120,430.00 100 0.00 120.43000 Carl J Boyle Trust 3/7/06 (Assessed Value) 11. Residence Contents (Visuallns"pection) 2.000.00 100 0.00 2,00000 Carl J Boyle Trust 3/7/06 - , . TOTAL (Also enter on line 7 Recapitulation) $ 306,990.51 .. .. (If more space is needed, insert additional sheets of the same size) REV-1511 EX+ (12-99) ~ SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Carl J Boyle FILE NUMBER Debts of decedent must be reported on Schedule I. ITEM NUMBER A. DESCRIPTION AMOUNT 1. FUNERAL EXPENSES: Sullivan Funeral Home Johnstown Monument 6,000.00 2,177.00 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Gommissions Name of Personal Representative( s) ~ Social Security Number(s)/EIN Number of Personal Representative(s) Street Address City State Zip Year(s) Commission Paid: 2. Attorney Fees 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State ,Zip Relationship of Claimant to Decedent 4. Probate Fees 5. P.ccountant's Fees 6 Tax Return Preparer's Fees. 200.00 7. ~ TOTAL (Also enter on line 9, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 8,377.00 --~.~,..,,-,--.._-",---.....; _._~.~.,....,,~--_._',--,-,,",.., """""."'__"....;;......"",_''',""....,...._~'-..,,.-'",'.H,'''~."..,.._..;~-,.,.<<_.,""",.,"'~'-'-.,_"'"-'~_.. . REV-1512 EX+ (12-03) '* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE I DEBTS ,OF DECEDENT, MORTGAGE LIABILITIES, & LIENS ESTATE OF Carl J Boyle FILE NUMBER Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. 2005 Federal Income Tax Payable 1,330.00 2. 2005 PA Income Tax Payable 2,480.00 3. 2005 Income Tax Prep,aralian Fees 125.00 4. PSECU Visa Loan #8505748775 209.04 ~ I . TOTAL (Also enter on line 10, Recapi~ulation) $ (If more space is needed, insert additional sheets of the same size) 4,144.04 REV-1513 EX+ (9.00) SCHEDULE J BENEFICIARIES COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Carl J Boyle FILE NUMBER NUMBER I NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] Darren P Boyle 1132 McKinley Ave Johnstown, PA 15905 RELATIONSHIP TO DECEDENT Do Not List Trustee(s) AMOUNT OR SHARE OF ESTATE 1. Son 124,942.23 2. Erin L Gerber 116 Penrod St Johnstow'1, PA 15902 . . Daughter 110,371.78 3. Kelly Holdsworth 411 Ferndale Ave Johnstown, PA 15905 ~ Daughter 110,371.78 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET II NON-TAXABLE DISTRIBUTIONS A SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE . B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENJER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 0.00 (If more. space is needed, insert additional sheets of the same size) THE CARL J. BOYLE TRUST (Single Individual's Living Trust) CREATION OF THE TRUST This revocable Living Trust is formed to hold title to real and personal property for the benefit of the creator of this Trust and to provide for the orderly use and/or transfer of such assets during the existence of this Trust and upon the demise'ofthe creator of this Trust. Name of Trust This Trust shall be known as: "The Carl J. Boyle Trust, dated August 26, 1997, Carl J. Boyle, Trustor and/or Trustee." Notice of Arbitration The Trustor and Trustee of this Trust have agreed that alternative dispute resolution should be utilized to preserve the total Trust Estate from the expenses oflegal fees and litigation. For that reason, THIS TRUST IS SUBJECT TO ARBITRATION. The Trustee shall submit all disputes to arbitration as provided in this Trust and arbitration awards shall be fully enforceable under the terms of state law and common law to the extent they are not inconsistent. Parties to the Trust This Trust is entered into by and between Carl J. Boyle of the County of Cumberland, Commonwealth of Pennsylvania, hereinafter called "Settlor" or "Trustor" and Carl J. Boyle of the County of Cumberland, Commonwealth of Pennsylvania, hereinafter called "Trustee," and "Beneficiary" while living. CARL J. BO YLE REVOCABLE LIVING TRUST, Page 1 , ~.': . Tax Treatment of Revocable "Grantor Trust" Pursuant to Trustor Powers of this Trust, the Trustor has the right to amend this Trust in whole or in part and, therefore, while the Trustor is alive, for income tax purposes, the Trust shall be treated as a revocable "Grantor Trust" pursuant to Internal Revenue Code Section 676. All items of income and expense related to the assets of the Trust or its operation shall be reported by the Trustor, as if owned by him, on the Trustor's Federal Income Tax Return, Form 1040 and state income tax return, if appropriate. Use of IRS Employer Tax Identification Number As long as the Trustor is living, this Trust is revocable and Trustee is directed not to file income tax returns for this Trust. Instead, the Trustor shall report income to the IRS using the Trustor's Social Security Number. Upon the death of the Trustor the entire trust is irrevocable and the Trustee will report income to the IRS on a Form 1041 trust tax return. When part, or all, of the Trust becomes irrevocable, the Trustee is directed to file a Form 1041 trust tax return or appropriate alternative form, as specified by IRS regulations, and state income tax return as appropriate, annually for income and expenses relating to assets retained in the irrevocable part of the Trust. All other income and expenses will be reported on the Trustor's Federal Income Tax Return, Form 1040 tax return, and state income tax return, as appropriate. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 2 TRUST PROPERTY The Trustor intends this Trust to be the recipient of all his assets, as well as. the named beneficiary of all interests of which the Trustor is, or may become, a Beneficiary. Property Transferred to the Trust Property held by the Trustee of this Trust, which is held in trust for the benefit of the beneficiaries subject to the provisions of this Trust Agreement, is and shall be property owned by the Trust. The Trustor has paid over, assigned, granted, conveyed, transferred and delivered property to this Trust, and by this Trust Agreement does hereby pay over, assign, grant, convey, transfer and deliver unto the Trust his property and may cause the Trust to be designated as beneficiary of life insurance policies. All such property (hereinafter referred to as the "Trust Estate"), shall be held, administered and distributed by the Trustee as hereinafter set forth. Residence As Homestead - State of Florida The Trustor reserves the right to reside upon any real property placed in this Trust as his permanent residence during his life, it being the intent of this provision to retain for the Trustor the requisite beneficial interests and possessory rights in and to such real property to comply with Section 196.041 of the Florida Statutes such that said beneficial interests and possessory rights constitute in all respects, "equitable title to real estate" as that term is used in Section 6, Article VII of the Constitution of the State of Florida. Notwithstanding anything contained in this Trust to the contrary, the Trustor's interest in any real property in which he will reside pursuant to the provisions oftms Trust shall be deemed to be an interest in real property and not personalty and shall be deemed the homestead of the Trustor. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 3 Residence As Homestead - State of Texas The Trustor retains the right to use and occupy for life, rent free, and without charge (except such charges as are allowed by Section 11.13 (j) ofthe Texas Tax Code), his residence homestead whether or not the residence homestead is transferred or placed in this Trust Estate, to secure and preserve for the Trustor the requisite rights, beneficial interests and possessory rights in and to such residence homestead to qualify for all homestead exemptions and protection from forced sale under the Texas Property Code, the Texas Tax Code, and Article 16, Sections 50 and 51 of the Constitution of the State of Texas. Any real property transferred to this Trust that is the residence homestead of the Trustor shall retain that status as the Trustor1s homestead unless and until the Trustor designates other real property as homestead pursuant to Chapter 41 of the Texas Property Code. It is the Trustor's intent that this Trust be a IIQualifying Trust" as that term is defined by Section 11.13(j) ofthe Texas Tax Code and any applicable provisions ofthis Trust shall be construed and applied to meet that end. The Trustor agrees to remain jointly and severally liable for taxes properly imposed on the interest of the Trust in his residence homestead. CARL J. BOYLE REVOCABLE LWING TRUST, Page" SUCCESSOR TRUSTEE Upon the death, resignation, disappearance or incompetence of a Trustee, the next acting Trustee will immediately assume the duties of Trustee and manage the Trust according to its terms. Successor Trustee In the event of the death, resignation, or incompetency of the original Trustee who is the Trustor, or if for any reason such person ceases, or is unable, to serve as Trustee hereunder, the Trustor nominates and appoints Darren P. Boyle, Erin L. Skavang and Kelly A. Holdsworth to serve as Co-Successor Trustees hereunder without court approval. Substitute Successor Trustee In the event of the death, resignation, or incompetency of any of the above named Successor Trustee(s), or if for any reason any named Successor Trustee ceases, or is unable, to serve as Trustee hereunder, the Trustor nominates and appoints Gregory V . Weimer to serve as Substitute Successor Trustee for that individual hereunder without court approval. Second Substitute Successor Trustee In the event of the death, resignation, or incompetency of any of the above named Successor Trustee(s), or if for any reason such named Successor Trustee ceases, or is unable, to serve as Trustee hereunder, the Trustor nominates and appoints Francis W. August to serve as Substitute Successor Trustee for that individual hereunder without court approval. When more than one person is named with others to serve as Successor Trustees together and one of the named persons is unable or unwilling for any reason to serve or to continue to serve, and no additional persons are named herein to take the place of such Trustee who is unable or unwilling for any reason to serve or to continue to serve, the Trustors direct that the remaining CARL J. BOYLE REVOCABLE UVlNG TRUST, Page 5 named Successor Trustee(s) shall continue to serve as Trustee (or if only one remains, Trustee) without the need for court approval. No Bond Requirement No Trustee shall be required to post bond or any other security for the faithful performance of any duty or obligation of such office. Multiple Successor Trustees Must Act Together When there is more than one Successor Trustee serving, the multiple trustees must unanimously agree in order to act. If the Trustor is serving as Trustee this provision does not apply. Resolution of Conflict Any controversy between the Trustees and any controversy between the Trustee and any other parties to this Trust, including Beneficiaries, involving the construction or application of any ofthe terms, provisions, or conditions of this Trust shall, on the written request of any disagreeing party served on the other or others, be submitted to arbitration. The parties to such arbitration shall each appoint one person to hear and determine the dispute and, if they are unable to agree, then the persons so chosen shall select another impartial arbitrator whose decision shall be final and conclusive upon all parties. The cost of arbitration shall be borne by the losing party or parties, in such proportion as decided in arbitration proceedings. Such arbitration shall comply with the commercial Arbitration Rules of the American Arbitration Association, 140 West 51st Street, New York, New York, 10020. No-Contest Clause lfthe Trustor seemingly failed to provide for any of his heirs, the Trustor did so intentionally with full knowledge of that heir's needs, wants and desires. CARL J. BOYLE REVOCABLE LWlNG TRUST, Page 6 If any beneficiary under this Trust, or any legal heir of the Trustor or any person claiming under any of them, singly or in conjunction with any other person or persons, contests in any court the validity of this Trust or any of its provisions or of the deceased Trustor's Will or seeks to obtain an adjudication in any proceeding in any court that this Trust or any of its provisions or that such Will or any of its provisions are void, or seeks otherwise to void, nullify, impair or set aside this Trust or any of its provisions, or such Will or any of its provisions, or conspires with or voluntarily assists anyone attempting to do any of those things, then the Trustor specifically disinherits such contesting person and all interests given to such contesting person under this trust and/or under such Will shall be forfeited and shall be determined as it would have been determined if the person had predeceased the execution of this Trust and such Will without surviving issue (as to an individual) or were not in existence at the time of such execution (as to an organization). The provisions of this section shall not apply to any disclaimer by any person of any benefit under this Trust or under any Will. Litigation Trustees are hereby authorized to defend, at the expense of the Trust estate, any contest or other attack of any nature on the Trust or any of its provisions. Discharge or Resignation of Trustee The Trustor shall have the right to discharge any Successor Trustee, and to appoint a Trustee in their place. Discharge of a Trustee shall be by delivery to such Trustee thirty (30) days' written notice of discharge. The Trustee of any Trust hereunder, including any Successor Trustee, may resign by delivery to all the income Beneficiaries of such Trust upon"thirty (30) day's written notice of resignation. lfno Successor Trustee is named by the Trust, such income Beneficiaries who are CARL J. BOYLE REVOCABLE UVlNG TRUST, Page 7 adults shall have the right to appoint a Trustee; provided that if no such income Beneficiaries are adults, then such appointment shall be made by the parent or legal guardian of such income Beneficiaries; provided, further, that in the event of a dispute among such income Beneficiaries, their parents or guardians, the majority shall prevail. A discharged or resigned Trustee shall serve as Trustee until a successor shall accept office, and shall execute all instruments and do all acts necessary to vest title of the Trust Estate in the Successor Trustee without court accounting. However, any discharged Trustee shall have authority to apply to a court of competent jurisdiction to ensure that a Successor Trustee is appointed. Trustee Compensation No Trustor shall receive compensation for services as Trustee. Any Successor Trustee shall be entitled to reasonable compensation for their services, which compensation shall be commensurate with comparable charges for similar services made from time to time by corporate Trustees in the geographic area in which the Trust has its principal situs for administration. The Trustee shall also be entitled to reimbursement for expenses necessarily incurred in the administration of the Trust Estate. No Trustee shall be required to accept compensation for their services. No duty to pay compensation or reimbursement to any Trustee shall arise unless and until that Trustee has submitted a request or billing for compensation or reimbursement. Competency Clause The Trustor hereby provides that two (2) designated licensed physicians shall be authorized and empowered to determine the competency of the Trustor or Trustee of this Trust Agreement. One of the physicians to determine competency shall be the attending physician of the Trustor or Trustee whose competency is to be determined. The second physician shall be CARL J. BOYLE REVOCABLE LIVING TRUST. Page 8 appointed by the Trustor's current Attorney-in-fact appointed under the Durable Power of Attorney for Health Care or similar instrument. The appointed physicians shall confirm in writing the incompetency or competency of the appointing Trustor or Trustee, and their joint decision thereon shall be binding upon the Trustor, Trustees and Beneficiaries of this Trust. If the Trustor or Trustee has no attending physician at the time when a determination of their competency is desired, the Trustor and Trustee hereby direct that the Attorney-in-Fact, appointed under the Durable Power of Attorney for Health Care or similar instrument, of the Trustor or Trustee whose competency to serve as Trustee is to be determined, will name and engage an attending physician on their behalf. Confirmation of removal or reappointment of any Trustee removed for incompetency by reason of the determination of the appointed physicians or whose recovery and competency to serve as Trustee hereunder has been re-certified by the appointed physicians, may be confirmed by application to a court of competent jurisdiction of the then situs of the Trust. CARL J. BOYLE REVOCABLE LIVING TRUST. Page 9 TRUSTOR POWERS Trustor Retains Absolute Right as Trustee The Trustor shall be the Trustee, unless and until, the Trustee resigns in writing, or is determined incompetent as provided in this Trust Agreement. The Trustor continues to retain all absolute rights to discharge or replace any Successor Trustee as long as the Trustor is competent. Description of Powers The Trustor acting as Trustee may, during his lifetime: withdraw the Trust Estate from this trust in any amount and at any time upon giving reasonable notice in writing to the then serving Trustee; add property to the Trust Estate; change the beneficiaries, their respective shares and the plan of distribution; amend this trust in any other respect; or, revoke this trust in its entirety or any provision therein; provided, however, the duties or responsibilities of the Trustee shall not be enlarged without the Trustee's consent nor without satisfactory adjustment of the Trustee's compensation. Trustor is authorized and empowered with respect to any property, real or personal, to: assign, borrow, buy, care for, collect, compromise claims, contract with respect to, continue any business of the Trustor, convey, convert, deal with, dispose of, enter into, exchange, hold, improve, incorporate any business of the Trustor, invest, lease, manage, mortgage, hypothecate, encumber, grant and exercise options with respect to, take possession of, pledge, receive, release, repair, sell, sue for, guarantee the obligations of the Trust, the Trustor personally, or any other person or entity, make distributions in cash or in kind or partly in each without regard to the income tax basis of such asset, or do any other related acts all for and in behalf of the Trust or for the Trustor's own accounts or to secure the Trustor's own debts or obligations. In the event that Trustor is living and competent, but is for any reason not serving as Trustee of this Trust, he may exercise each and every right and power retained and granted by CARL J. BOYLE REVOCABLE LIVING TRUST, Page 10 this Section, "TRUSTOR POWERS" by signed instrument or instruments delivered to the Trustee. Gifts Treated as Revocation The Trustor intends that all transfers (other than sales or exchanges made for full and adequate consideration, or distributions for the direct benefit of the Trustor made from the assets of the Trust) shall be a revocation by the Trustor as to Trust administration over the transferred assets and shall constitute an initial distribution to the Trustor and subsequent transfer by the Trustor to the donee. This provision shall apply whether such transfer is made by the Trustor or by a Trustee at the written direction ofthe Trustor. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 11 TRUSTEE POWERS The Trustee shall hold, administer and distribute the Trust Estate as follows: Discretionary Powers of Trustee In exercising discretion hereunder, the Trustee is to consider the needs of the Trustor, during his lifetime, as the primary purpose of the Trust, even if the satisfaction of such needs requires invasion of the entire Trust Estate. After the death of the Trustor, the needs of the children shall be paramount to the conservation of the Trust Estate for the benefit of those who will be entitled to the Trust Estate at its termination. The Trustee shall, in exercising the discretion given herein for the benefit of the children or their issue, do so in such a manner as will encourage thrift, industry, and self-reliance to the maximum extent practicable by the respective Beneficiaries, and discourage extravagance or indolence on the part of any such Beneficiary. Trust As The Beneficiary Of A Qualified Plan Or Account In addition to all other distributions required or permitted by this Trust Declaration, if the Trust is the beneficiary of a plan or account qualified under Section 40 I of the Internal Revenue Code, the Trust is to make at least the minimum distributions to the Trust Beneficiary in the amount and manner required by Section 401 (a)(9) of the Code and any other applicable provision of the Code. Incompetency In the event that the Trustor is adjudicated to be incompetent or in the event that the Trustor is not adjudicated incompetent, but by reason of illness or mental or physical disability is, in the opinion of the Trustee, unable to properly handle his own affairs, then and in that event, the Trustee may pay to or apply for the benefit of the affected Trustor such sums from the net income and from the principal of such Trustor's estate as in the Trustee's sole discretion shall be CARL J. BOYLE REVOCABLE LIVING TRUST, Page 12 necessary or advisable from time to time for the medical care, maintenance and welfare of such affected Trustor, taking into consideration the extent the Trustee deems advisable any other income or resources of the affected Trustor known to the Trustee. Specific Trustee Powers By way of illustration and not of limitation and in addition to any inherent, implied or statutory powers granted to trustees generally, the Trustee is specifically authorized and empowered with respect to any property, real or personal, at any time held under any provision of this Trust: to allot, allocate between principal and income, assign, borrow, buy, care for, collect, compromise claims, contract with respect to, continue any business of the Trustor, convey, convert, deal with, dispose of, enter into, exchange, hold, improve, incorporate any business of the Trustor, invest, lease, manage, mortgage, hypothecate (by Deed of Trust or other appropriate instrument), encumber, grant and exercise options with respect to, take possession of, pledge, receive, release, repair, sell, sue for, make distributions in cash or in kind or partly in each without regard to the income tax basis of such asset and in general, exercise all of the powers in the management of the Trust Estate which any individual could exercise in the management of similar property owned in hislher own right, upon such terms and conditions as to the Trustee may seem best, and execute and deliver any and all instruments and do all acts which the Trustee may deem proper or necessary to carry out the purposes of this Trust, without being limited in any way by the specific grants of power made, and without the necessity of a court order. The Trustee is authorized to pledge the assets of the Trust to secure the indebtedness of the Trustor. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 13 Securities Authorization The Trustee is empowered to buy, sell, trade and deal in stocks, bonds, mutual funds and securities of all nature (including "short" sales) and commodities of every nature, and contracts for future delivery of commodities of every nature on margin or otherwise; whether those contracts be in the nature of "puts" or "calls" as such terms are normally understood in the securities industry; and for such purpose to maintain and operate margin and commodities accounts with brokers; and in connection therewith, to borrow money and to pledge any and all stocks, bonds, securities, mutual funds, commodities and contracts for the future delivery thereof, held or purchased by the Trustee, with such brokers for loans and advances made to the Trustee. The Trustee is empowered to participate in voting trusts, pooling agreements, foreclosures, reorganizations, consolidations, mergers and liquidations, and in connection therewith to deposit securities with and transfer title to any protective or other committee under such terms as the Trustee may deem advisable. The Trustee is empowered to engage in listed option transactions (including initiating and closing transactions) of the following nature: Covered Writing, Uncovered Writing, Buying, Spreading and Uncovered Call Writing. The Trustee is expressly authorized in the Trustee's sole discretion to exercise any option to purchase stock under any stock option purchase plan in which any decedent Beneficiary is a participant. The Trustee shall have the power, unless limited by law, in the Trustee's absolute discretion to hire, employ and retain third parties and managers of Trust assets and to grant to such managers authority to manage, buy, and sell Trust assets at such managers' discretion provided that in selecting any such manager the Trustees shall exercise the care which persons of CARL J. BOYLE REVOCABLE LIVING TRUST, Page 14 prudence, discretion and intelligence employ on their own account and further provided that any such grant of powers to any such manager shall be in writing. The Trustee is authorized to employ attorneys, accountants, investment advisors, investment managers, specialists and such other agents as the Trustee shall deem necessary or desirable. The Trustee shall have the authority to appoint an investment manager or managers to manage all or any part of the assets of the Trust, and to delegate to said manager investment discretion, within the limits prescribed by law, if any. Such appointment shall include the power to acquire and dispose of such assets. The Trustee may charge for the compensation of such attorneys, accountants, investment advisors, investment managers, specialists and other agents and any other expenses against the trust. If the Trustee elects to appoint an investment manager, the Trustee shall enter into an agreement with each investment manager so appointed, specifying the duties and compensation of such investment manager and other terms and conditions under which such investment manager shall be retained. The Trustee shall not be liable for any act or omission of any investment manager, and shall not be liable for following the advice of any investment manager, with respect to any duties delegated to the investment manager. The Trustee shall have the power to determine the portion of the Trust assets to be invested pursuant to the direction of a designated investment manager and to set investment objectives and guidelines for the investment manager. The investment manager shall have the same power to invest and reinvest the assets of the Trust under hislher management that he/she would have if he/she were him/herselfthe Trustee of the Trust (subject to the guidelines established by the Trustee). CARL J. BOYLE REVOCABLE LIVING TRUST, Page 15 Sub-Chapter S Authorization It is the Trustor's intent that all Trusts and shares created hereby each qualify as a Qualified Subchapter S Trust ("QSST") for federal tax purposes (if the appropriate election is made) and in any event to conform to the requirements ofthe provisions of the Internal Revenue Code from time to time existing with respect to the federal income tax treatment of S Corporations and their shareholders with respect to any S Corporation Stock or rights therein. The Trustor intends that the provisions ofthis Trust, including any power, duty or discretionary authority, be construed to conform to that intent. To the extent that any such provision cannot be so construed with respect to any S Corporation Stock or rights therein, it shall be deemed void as to such Stock or right. In no event shall the Trustee take any action or have any power that will impair the power of such trusts or shares to hold S Corporation stock, and all provisions regarding such trusts shall be interpreted to conform to that objective with respect to any S Corporation, Stock or rights therein. Precious Metals and Limited Partnerships The Trustee is empowered to purchase and sell, directly or indirectly, precious metals, limited partnerships of any type, investment quality gems, rare coins and stamps, and objects of art. Trust Investments The Trustee shall invest the Trust Estate so that it will produce for the Trustor, during his lifetime, an income or use which is consistent with the value of the Trust Estate and with its preservation. Payment to Minor and/or Handicapped Individual In case the income or principal payment under any Trust created hereunder or any share thereo f shall become payable to a person under the age of twenty-one (21), or to a person under CARLJ. BOYLE REVOCABLE LIVING TRUST, Page 16 legal disability, or to a person not adjudicated incompetent, but who, by reason of illness or mental or physical disability, is, in the opinion of the Trustee unable properly to administer such amounts, then such amounts shall be paid out by the Trustee in such of the following ways as the Trustee deems best: directly to such Beneficiary; to the legally appointed Guardian of such Beneficiary; to some relative or friend for the care, support and education of such Beneficiary; or by the Trustee using such amounts directly for such Beneficiary's care, support and education. Reimbursement of Guardian's E:qlenses The Trustor does not desire that the Guardian of any minor Beneficiary should incur personal expense for the support of such Beneficiary. The Trustee is authorized to distribute funds from such Beneficiary's share for the pmpose of reimbursing such Guardian for reasonable expenses incurred in accommodating such Beneficiary. Occupancy of Residence The Trustee may permit the Trustor Beneficiary to occupy rent free any residence constituting a part of the assets of a Trust for such Beneficiary and: to pay the real estate taxes thereon; expenses of maintaining said residence in suitable repair and condition; and to pay hazard insurance premiums on said residence. Discretionary Dissolution of Trust If at any time any Trust created in this Trust Agreement has a fair market value, as determined by the Trustee, of fifteen thousand ($15,000) dollars or less, the Trustee, in the Trustee's absolute discretion if the Trustee determines that it is uneconomical to continue such Trust, may terminate such Trust and distribute the Trust property to the person or persons then entitled to receive or have the benefit of the income therefrom or the legal representative of such person. If there is more than one income Beneficiary, the Trustee shall make such distribution to CARL J. BOYLE REVOCABLE LIVING TRUST, Page 17 such income Beneficiaries in the proportion in which they are Beneficiaries or, ifno proportion is designated, in equal shares to such Beneficiaries. Valuation of Assets In making the distributions of any trust or share created under this Trust Agreement, the judgment of the Trustee concerning the valuation of assets distributed shall be binding and conclusive upon all Beneficiaries. The Trustee may distribute the shares of the various Trusts to Beneficiaries by making distribution in cash, or in kind, or partly in cash and partly in kind, or in undivided interests, in such manner as the Trustee in his or her sole and absolute discretion deems advisable. The Trustee may sell such property as the Trustee deems necessary to make such division or distribution. After any division of the Trust Estate, the Trustee may make joint investments with funds from some or all of the several shares of the Trust Estate. Application to Court If there ever is any need to obtain court approval of any accounting or interpretation of this Agreement, the Trustor directs the Trustee to make such application to any court of competent jurisdiction, it being the intent of the Trustor that the court shall not assume continuing jurisdiction. Insurance The following provisions apply to insurance held by the Trust or of which the Trust is the Beneficiary. Policy Owner's Rights - Nothing in this Article shall be construed as limiting the right of the Trustor to dispose of by Will his or her interest in any life insurance policy on the other Trustor's life that is payable to the Trustee hereunder or as limiting any such right a Trustor may possess in any such insurance policy by virtue of its property character. CARL J. BOYLE REVOCABLE LWING TRUST, Page 18 Trustee Held Harmless as Custodian - The owner of any life insurance policies payable to the Trustee shall have all rights under any such policies, including the right to change the Beneficiary, to receive any dividends or other earnings of such policies without accountability therefor to the Trustee or any Beneficiary hereunder, and may assign any policies to any lender, including the Trustee, as security for any loan to the Trustor or any other person; and the Trustee shall have no responsibility with respect to any policies, for the payment of premiums or otherwise, except to hold any policies received by the Trustee in safekeeping and to deliver them upon owner's written request and upon the payment to the Trustee of reasonable compensation for services. The rights of any assignee of any policy shall be superior to the rights of the Trustee. Canceling a Policy- If any policy is surrendered or if the Beneficiary is changed, this Trust shall be revoked with respect to such policy. However, no revocation of the Trust with respect to any policy, whether pursuant to the provisions of the preceding sentence or otherwise, shall be effective unless the surrender or change in Beneficiary if the policy is accepted by the insurance company. Policy Qptions- Upon the death of the insured under any policy held by or known to, and payable to, the Trustee, or upon the occurrence of some event prior to the death of the insured that matures any such policy, the Trustee, in the Trustee's discretion, either may collect the net proceeds and hold them as part of the principal of the Trust Estate, or may exercise any optional method of settlement available to the Trustee, and the Trustee, and the Trustee shall deliver any policies on the Trustor's life held by the Trustee and payable to any other beneficiaries as those beneficiaries may direct. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 19 Insurance Payment Dischar~e- Payment to, and the receipt of, the proceeds, by the Trustee shall be a full discharge of the liability of any insurance company, which need not take notice of this Trust Agreement or see to the application of any payment. Suing an Insurance Company- The Trustee need not engage in litigation to enforce payment of any policy without prior indemnification to the Trustee from the Trust satisfactory to the Trustee for any resulting expenses. Limitation on Change of Beneficiary- The Trustee shall not have the power or authority to change the beneficiary of any policy of insurance held in any irrevocable trust created under the terms hereof CARL J. BOYLE REVOCABLE LIVING TRUST, Page 20 PAYMENT OF DEATH COSTS The Trustee shall see to the payment of all obligations of a deceased Trustor, including costs of final illness, funeral and interment as deemed appropriate by the Trustee. Discretionary Powers of Trustee After the Trustor's death, the Trustee may, in the Trustee's discretion, pay all or any part of such deceased Trustor's funeral and last illness expenses, legally enforceable claims against the Trustor or his or her estate, reasonable expenses of estate administration, any allowances by court order to those dependent upon such Trustor, any estate, inheritance, succession, death or similar taxes payable by reason of such Trustor's death, together with any interest thereon or other additions thereto, without reimbursement from such Trustor's Executor, Personal Representative or Administrator, from any Beneficiary of insurance upon such Trustees life, or from any other person. All such payments, except for interest, shall be charged generally against the principal of the Trust Estate includable in such Trustor's estate for Federal estate tax purposes and any interest so paid shall be charged generally against the income thereof. Written Statement as Evidence Written statement by the executor, personal representative or administrator of such sums due and payable by the Trust Estate shall be sufficient evidence of their amount and propriety for the protection of the Trustee, and the Trustee shall be under no duty to see to the application of any such payments. Flower Bonds The Trustee shall see to the redemption of any obligations of the United States Government held hereunder which may be redeemed at par in payment of federal estate taxes, if held as part of the deceased Trustor's taxable estate, to the extent of the deceased Trustor's interest therein. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 21 ALLOCATION AND DISTRIBUTION OF TRUST ASSETS The Trustee shall allocate, hold, administer and distribute the Trust assets as hereinafter delineated. Upon the Death of Trustor Upon the death of the Trustor, the Trustee shall hold, administer and distribute the Trust in the following manner. Personal Property Distribution The Trustor requests the Trustee to abide by any memorandum by the Trustor directing the disposition of personal and household effects of every kind including but not limited to furniture, appliances, furnishings, pictures, china, silvelWare, glass, books, jewelry, wearing apparel, and all policies of tire, burglary, property damage, and other insurance on or in connection with the use of this property. OthelWise, the personal and household effects of the Trustor shall be distributed with the remaining assets of the Trust Estate. Support and Education At any time prior to the division of the Trust into shares as hereinafter provided, or prior to distribution if divided, the Trustee may, at hislher sole and absolute discretion, provide such sums as shall be necessary or advisable, for the care and maintenance, medical needs, and education of any Primary Beneficiary, provided, however, such aid or support shall be charged against the share of the Beneficiary receiving it, and that no such aid or support shall in any way diminish the benefits available to any other Beneficiary. This provision shall also apply to the issue of a deceased Primary Beneficiary (as hereinafter designated). Extraordinary Distribution The Trustee is further authorized, in his or her sole and absolute discretion, to provide such sums as shall be necessary or advisable, for the furtherance of worthwhile personal, CARL J. BOYLE REVOCABLE LIVING TRUST, Page 22 professional or business goals, and if deemed appropriate by the Trustee, to provide such reasonable sums for a partial or complete down-payment on a home of any Primary Beneficiary, provided, however, such aid or support shall be charged against the share of the Beneficiary receiving it, and that no such aid or support shall in any way diminish the benefits available to any other Beneficiary. Such provision shall also apply to the issue of a deceased Primary Beneficiary of the Trustor. The Trustee is authorized, in his or her sole and absolute discretion, to distribute all the net income of the Trust Estate, at least annually, to the beneficiaries then entitled to income. Any distribution of income shall be made in the same proportion as the beneficiary's right to principal bears to the total principal of the Trust Estate. For example, if a beneficiary is entitled to a future distribution of twenty-five percent (25%) of the principal, the Trustee may distribute twenty-five percent (25%) of the net income to the beneficiary. Handicapped Beneficiaries As used in this section, the term "Handicapped Beneficiary" and any variations thereof and references thereto, shall mean any beneficiary of this Trust who has been determined by a court of competent jurisdiction to be incompetent or unable to adequately manage his or her affairs. Additionally, the Trustee may make a determination, in accordance with the procedures for determining the competency of a Trustee, of the incompetency of any beneficiary. The interests of all such beneficiaries shall be governed by these provisions for Handicapped Beneficiaries. Handicapped Beneficiaries shall not have any discretionary property rights of a beneficiary with respect to this Trust, or with respect to his or her share or portion thereof. The Trustees shall hold and maintain such incompetent beneficiary's share of the Trust Estate in trust. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 23 Notwithstanding the foregoing, any Beneficiary who is diagnosed for the purposes of governmental benefits (as hereinafter delineated) as being not competent or as being disabled, and who shall be entitled to governmental support and benefits by reason of such incompetency or disability, shall cease to be a Beneficiary, and Trustee if so named, of this Trust if such aid is jeopardized by reason of the individual's status as a Beneficiary or Trustee. Likewise, they shall cease to be a Beneficiary or Trustee if any share or portion of the principal or income of the Trust shall become subject to the claims of any governmental agency for costs or benefits, fees or charges. The portion of the Trust Estate which, absent the provisions of this section "Handicapped Beneficiaries," would have been the share of such incompetent or handicapped person shall be retained in Trust for as long as that individual lives. All income from such share, not otherwise utilized for the purposes ofthis Trust share, shall be added to the principal thereof annually. While the Trustees hold Trust property available for the benefit of any handicapped beneficiary, it is the intent of the Trustor, and he directs that the Trustee(s), in their sole and absolute discretion, provide comfort, luxury, and life enrichment benefits for that handicapped beneficiary which will not cause the loss of any Governmental benefit to which that beneficiary would otherwise be entitled but will supplement any governmental benefit. Such benefits may include: training to develop skills and abilities, transportation, educational support, tutoring, adaptive vocational skills training, home and residential adaptation assistance, medical and dental expenses, medical and dental insurance, clothing, equipment, entertainment, essential dietary needs, treatment programs, diagnostic work and treatment, rehabilitative training and experimental medical services, differential in cost between shelter for shared and private group home rooms, supplemental nursing care, recreation, cultural experience, outings and travel, telephone and television, exercise equipment and unreimbursed therapy, and any other programs CARL J. BOYLE REVOCABLE LWING TRUST, Page 24 to provide for the special needs or "life enrichment" of the beneficiary as may be permitted by law. Upon the death of this individual, the residual of this share shall be distributed as otherwise specified in the Trust. If such individual recovers from incompetency or disability, and is no longer eligible for aid from any governmental agency, including costs or benefits, fees or charges, the discretionary property rights of such individual shall be reinstated after sixty (60) days from such recovery and/or ineligibility, and the distribution provisions as stated herein shall apply to that portion of the Trust Estate which is held by the Trustee subject to the foregoing provisions of this section. Upon the death of a Handicapped Beneficiary who otherwise would have been a Beneficiary of this Trust, any allocation of the Trust Estate held in Trust which would otherwise have inured to the benefit of said Handicapped Beneficiary shall be distributed to his or her issue, if any, per the provisions which allocate and distribute Trust Assets. Each share shall be distributed or retained in Trust as hereinafter provided. Primary Beneficiaries Unless otherwise herein provided, upon or after the death of the Trustor, the Primary beneficiaries of this Trust are Darren P. Boyle, Erin L. Skavang and Kelly A. Holdsworth. Allocation of Trust Assets Upon the death of the Trustor the Trustee shall allocate the balance of the Trust Estate as then constituted into equal separate shares to provide one (1) share each for Darren P. Boyle, Erin L. Skavang and Kelly A. Holdsworth, the Primary Beneficiaries of the Trust Estate. Each share shall be held, managed and distributed as provided in the provision entitled "Distribution of Trust Assets" In the event Darren P. Boyle dies before receiving Darren P. Boyle's entire share, Darren P. Boyle's share shall be reallocated in the following manner: the undistributed balance of Darren CARL J. BOYLE REVOCABLE LIVING TRUST, Page 25 P. Boyle's share shall be allocated to create one share for each living child and one share for each group composed of the living issue of a deceased child ofthe deceased Primary Beneficiary who are all contingent beneficiaries of Darren P. Boyle, the Primary Beneficiary, and distributed to such then living issue by right of representation in accordance with the Provision titled "Per Stirpes. " If all the issue of Darren P. Boyle die before receiving their entire share, the undistributed balance of Darren P. Boyle's share shall be allocated equally among the Trustors' remaining Primary Beneficiaries deceased Primary Beneficiaries leaving then living issue by right of representation and distributed as otherwise provided in this Trust Agreement. In the event Erin L. Skavang dies before receiving Erin L. Skavang's entire share, Erin L. Skavang's share shall be reallocated in the following manner: the undistributed balance of Erin L. Skavang's share shall be allocated to create one share for each living child and one share for each group composed of the living issue ofa deceased child of the deceased Primary Beneficiary who are all contingent beneficiaries of Erin L. Skavang, the Primary Beneficiary, and distributed to such then living issue by right of representation in accordance with the Provision titled "Per Stirpes. " If all the issue of Erin L. Skavang die before receiving their entire share, the undistributed balance of Erin L. Skavang's share shall be allocated equally among the Trustors' remaining Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by right of representation and distributed as otherwise provided in this Trust Agreement. In the event Kelly A. Holdsworth dies before receiving Kelly A. Holdsworth's entire share, Kelly A. Holdsworth's share shall be reallocated in the following manner: the undistributed balance of Kelly A. Holdworth's share shall be allocated to create one share for each living child and one share for each group composed of the living issue of a deceased child CARL J. BOYLE REVOCABLE LIVING TRUST, Page 26 of the deceased Primary Beneficiary who are all contingent beneficiaries of Kelly A. Holdsworth, the Primary Beneficiary, and distributed to such then living issue by right of representation in accordance with the Provision titled "Per Stirpes. " If all the issue of Kelly A. Holdsworth die before receiving their entire share, the undistributed balance of Kelly A. Holdsworth's share shall be allocated equally among the Trustors' remaining Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by right of representation and distributed as otherwise provided in this Trust Agreement. Distribution of Trust Assets Following the death of the Trustor, the Trustee shall distribute to Darren P. Boyle according to the following schedule: The Trustee shall distribute the share outright as soon as practicable. Following the death of the Trustor, the Trustee shall distribute to Erin L. Skavang according to the following schedule: The Trustee shall distribute the share outright as soon as practicable. Following the death of the Trustor, the Trustee shall distribute to Kelly A. Holdsworth according to the following schedule: The Trustee shall distribute the share outright as soon as practicable. Per Stirpes After division into shares, pursuant to the allocation and distribution directions set forth in this trust, if a Primary Beneficiary or the issue of a deceased Primary Beneficiary predeceases complete distribution of his or her share, and there is no other direction for allocation and distribution, then the undistributed balance of such share shall be allocated and distributed as hereinafter provided. Any share allocated to the issue of a deceased Primary Beneficiary shall be CARL J. BOYLE REVOCABLE UVlNG TRUST, Page 27 distributed by right of representation in the following manner: when such an heir (issue of a deceased Primary Beneficiary) attains the age of twenty-five (25) years, the Trustee shall distribute to such beneficiary one-third (113) of the principal and accumulated income ofthat beneficiary's share as then constituted; and when such an heir (issue of a deceased Primary Beneficiary) attains the age of thirty (30) years, the Trustee shall distribute to such beneficiary one-half (1/2) of the principal and accumulated income of that beneficiary's share as then constituted; and when an heir (issue of a deceased Primary Beneficiary) attains the age of thirty-five (35) years, the Trustee shall distribute to such beneficiary the undistributed balance of his or her share. If an heir (issue of a deceased Primary Beneficiary) has already attained age twenty-five (25), or age thirty (30), or age thirty-five (35) at the time this trust is divided into shares, the Trustee shall, upon making the division, distribute to such beneficiary one-third (1/3), two-thirds (2/3), or all of that beneficiary's share, respectively. Ifno provision has been made for allocation of trust assets and distribution of trust assets for the disposition of a trust share in the event such trust share cannot be distributed to the designated beneficiary because the designated beneficiary predeceases distribution, or for any other reason, then the balance of such trust share shall be allocated to the issue of the designated beneficiary by right of representation and held, administered and distributed in accordance with the provisions of this section, "Per Stirpes." CARL J. BOYLE REVOCABLE LWING TRUST, Page 28 Property Exposed to Environmental Hazards The Trustor is not aware of any environmental harm existing on any property now owned by the Trustees on behalf of this Trust. Any property in the trust estate determined by the Trustee to be subject to CERCLA (Comprehensive Environmental Response Compensation and Liability Act) liability in an amount which exceeds the fair market value of the property as finally determined in the deceased Trustor's final tax return shall be irrevocably devised to the government of the United States of America as an absolute and unrestricted charitable gift. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 29 GENERAL PROVISIONS The following general provisions apply to the entire Trust Agreement. Intention to Avoid Probate It is the intention of the Trustor to avoid probate through the use of this Trust Agreement. If, however, the Trustee of this Trust and the Executor or Personal Representative of the estate of the Trustor shall mutually determine that it shall be in the best interests of the Beneficiaries of the Trust, and the beneficial interests of the Beneficiaries shall not thereby be altered, the Trustee may subject any asset to probate to accomplish a result unavailable without probate (e.g. to bar future creditor claims). Annual Accounting Any non-Trustor Successor Trustee shall render an annual accounting to the Beneficiary or Beneficiaries of the Trust not more than one hundred twenty (120) days following the close of the fiscal year of the Trust. Partial Invalidity If any provision of this Agreement is void, invalid or unenforceable, the remaining provisions shall nevertheless be valid and carried into effect. Headings The headings of this Agreement are for convenience only and are not a part of the text. Counterparts This Agreement may be executed in any number of counterparts and each shall constitute an original of one and the same instrument. Spendthrift Provisions Except as otherwise provided herein, all payments of principal and income payable, or to become payable, to the Beneficiary of any Trust created hereunder shall not be subject to CARL J. BOYLE REVOCABLE LWING TRUST, Page 30 anticipation, assignment, pledge, sale or transfer in any manner, nor shall any said beneficiary have the power to anticipate or encumber such interest, nor shall such interest, while in the possession of the Trustee, be liable for, or subject to, the debts, contracts, obligations, liabilities or torts of any Beneficiary. Simultaneous Death If the Trustor and any beneficiary should die under circumstances which would render it doubtful as to which died first, it shall be conclusively presumed for the purposes of this Trust that the beneficiary predeceased the Trustor. Last Illness and Funeral E~ense On the death of any person entitled to income or support from any Trust hereunder, the Trustee shall be authorized to pay the funeral expenses and the expenses of the last illness of such person from the corpus of the Trust from which such person was entitled to income or support. CARL J. BOYLE REVOCABLE UVING TRUST, Page 31 GLOSSARY OF TERMS The Glossary of Terms covers five basic categories: Trustee, Child or Children, Internal Revenue Code Terminology, Commonly Owned Property, and Incompetent Person. Trustee Whenever the word "Trustee" or any modifying or substituted pronoun therefor is used in this Trust, such words and respective pronouns shall be held and taken to include both the singular and the plural, the masculine, feminine and neuter gender thereof, and shall apply equally to the Trustee named herein and to any successor or substitute Trustee acting hereunder, and such successor or substitute Trustee shall possess all the rights, powers and duties, authority and responsibility conferred upon the Trustee originally named herein. Child or Children For the purposes of this Trust, "children" means the lawful blood descendants in the first degree ofthe Trustor; and "issue" and "descendants" mean the lawful blood descendants in any degree of the ancestor designated; provided, however, that if a person has been adopted, that person shall be considered a child of such adopting parent and such adopted child and their issue shall be considered as issue of the adopting parent or parents and of anyone who is by blood or adoption an ancestor of the adopting parent or either ofthe adopting parents. The terms "child," "children," "issue," "descendant" and "descendants" or those terms preceded by the terms "living" or "then living" shall include the lawful blood descendant in the first degree of the Trustor even though such descendant is born after the death of the Trustor. Internal Revenue Code Terminology As used herein, the words "gross estate," "adjusted gross estate," "taxable estate, "unified credit," "state death tax credit," and any other word or words which form the context in which it or they are used referring to the Internal Revenue Code shall be assigned the same meaning as CARL J. BOYLE REVOCABLE LIVING TRUST, Page 32 ,.,---",,,,,,,,,,-,,,-,,,,",,"-""'~~--"""'-'>- "....,,~,..._--"'''''..,;."'.. such words have for the purposes of applying the Internal Revenue Code to the deceased Trustor's estate. Reference to sections of the Internal Revenue Code and to the Internal Revenue Code shall refer to the Internal Revenue Code amended to the date of such Trustor's death. Commonly Owned Property The term commonly owned property as used in this Trust Agreement means joint owned property . Incompetent Person The term incompetent person means an incapacitated person under Pennsylvania law. Pennsylvania law defines an incapacitated person as an adult whose ability to receive and evaluate information effectively and communicate decisions in any way is impaired to such a significant extent that he or he is partially or totally unable to manage his or her own financial resources or to meet essential requirements for his or her physical health and safety. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 33 CREATION AND DISSOLUTION OF TRUST The Trust is created in the Commonwealth of Pennsylvania; however, it is intended to be effective in all states and foreign jurisdictions where it owns property of any kind or value. Situs of Trust The situs of the Trust Estate maybe transferred from Pennsylvania to such other jurisdiction within the United States as the majority of the income Beneficiaries may designate only with the approval of the Trustee. While the situs of the Trust is in Pennsylvania, Pennsylvania law will govern the Trust provisions. Recordation of Trust Provisions This Trust Agreement, as executed by the Trustor, and acting in his capacity as Trustor and Trustee, shall not as a matter of course be recorded as a public document. Termination of Trust Notwithstanding anything herein to the contrary, the trusts created hereunder shall terminate not later than twenty-one (21) years after the death of the last survivor of the last of the Trustor to die and any other Beneficiary or Beneficiaries named or defined in this Trust and living or conceived on the date of death of the last of the Trustor to die. Upon termination by operation of this paragraph or by law due to the rule against perpetuities as applied by any court of competent jurisdiction, the Trustee shall distribute each remaining trust hereunder to the beneficiary or beneficiaries of the current income thereof, and if there is more than one beneficiary, in the proportion in which they are beneficiaries; or ifno proportion is designated, in equal shares to such beneficiaries. CARL J. BOYLE REVOCABLE LIVING TRUST, Page 34 Intent of Trustor This is to witness that I. Carl J. Boyle, have read the provisions of this Trust Agreement and understand the provisions therein, and it is my intent to enter into this Trust Agreement. IN WITNESS WHEREOF. the provisions of this Declaration of Trust shall bind Carl 1. Boyle as Trustor. and Carl J. Boyle as Trustee, Successor Trustees assuming the role of Trustee hereunder, and the Beneficiaries of this Trust as well as their successors and assigns. Dated this 26th day of A.U gust. 1997. at Allentown.. Pennsylvania. ./ ~ TRUSTOR: ~ J &-,--/ / ? 7/J-/ '-. rl CARL 1. B€fYLE Witness TRUSTEE: /~-t"~V: c::-~ ~..if----- CARL 1. 130YLE c:/ 1 Lid JII Witness CERTlnCATEOFACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA COUNTY OF LEHIGH SS: On this, the 26th day of August. 1997, before me, a Notary Public, the undersigned officer. personally appeared Carl J. Boyle, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument. and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I have hereunto set my hand and notarial seal. l/tjJ-t~ ./. (It.,<U2-Uh - -tdL Notary Public My Commission Expires: S / /1,/ Z"l{) I NOTARIAL SEAL ROBIN L. CUNCONAN.I:AHR. Notary Publil: lowel!.lacungie Twp.. Lehigh County, PA My COlllmisslon EXpUes !.larch 12.2001 CARL J. BOYLE REVOCABLE LIVING TRUST. Page 35 STATEMENT OF WITNESSES I declare under penalty of perjury under the laws of this state that the person( s) who signed or acknowledged this Document is personally known to me (or proved to me on the basis of convincing evidence) to be the person(s) who signed or acknowledged this document in my presence, and that the person(s) appear(s) to be of sound mind and under no duress, fraud or undue influence. I /J ,j)-y') Signature ~ d ~ Signature ( h,,,,1oih ~t t* Address 4972 Medical Center Circle Address 4972 Medical Center Circle Allentown, P A 18106 Allentown, P A 18106 Date August 26, 1997 Date August 26, 1997 CERTIFICATE OF ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA ss ( ( ( COUNTY OF LEHIGH On this 26th day of August, before me, the undersigned officer, a Notary Public, personally appeared Carl J. Boyle, Todd H. Lahr, Esq. and Christine M. Smyth personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same for the purposes therein contained. WITNESS my hand and official seal. Signature: #i -;' (Jt./Lt.t7//v') -;kiL (Seal) My Commission Expires: :..:? / I 7~ / "2-..;,:.> , NOTARIAL. SEAL ROBIN l. CUNCONAN-tAHR, NDlary Publo lOWllllacungle Mp., Lehigh CD~, PA My COll1mission Expirfs March 12, 2001 CARL J. BOYLE REVOCABLE LIVING TRUST, Page 36 Gift or Loan G-Gift L-Loan Recipient SCHEDULE A GIFTS AND LOANS Amount Date CARL J. BOYLE REVOCABLE LIVING TRUST, Page 37 Trustor's Signature ~ '-. AMENDMENT TO THE CARL J. BOYLE TRUST This is an amendment to "THE CARL J. BOYLE TRUST, DATED AUGUST 26, 1997, CARL J. BOYLE, TRUSTOR AND/OR TRUSTEE", and as such, amends and replaces the provisions of the original Trust insofar as they conflict with the terms hereof. This Amendment is entered into by the undersigned as "Settlors" or "Trustors", and as "Trustees", and "Beneficiaries". The Trust is amended as follows: Distribution of Trust Assets Following the death of the Trustor, the Successor Trustee(s) shall distribute to Darren P. Boyle according to the following schedule: The Successor Trustee(s) shall distribute 1/3 (one-third) of the share outright as soon as practicable. All income, dividends and interest generated from the remaining share shall be distributed annually to the Beneficiary. The Successor Trustee(s) shall distribute an additional 1/2 (one-half) of the remaining share at the fourth (4th) year anniversary of the death of the Trustor. The Successor Trustee(s) shall distribute the remaining balance of the share at the eighth (8th) year anniversary of the death of the Trustor. Any share allocated to the issue of Darren P. Boyle due to that Primary Beneficiary's death prior to receiving his share shall be distributed according to the Provision titled "Per Stirpes." Following the death of the Trustor, the Successor Trustee(s) shall distribute to Erin L. Skavang according to the following schedule: CARL J. BOYLE REVOCABLE LIVING TRUST AMENDMENT, PAGE 1 The Successor Trustee(s) shall distribute 1/3 (one-third) of the share outright as soon as practicable. All income, dividends and interest generated from the remaining share shall be distributed annually to the Beneficiary. The Successor Trustee(s) shall distribute an additional 1/2 (one-half) of the remaining share at the fourth (4th) year anniversary of the death of the Trustor. The Successor Trustee(s) shall distribute the remaining balance ofthe share at the eighth (8th) year anniversary of the death of the Trustor. Any share allocated to the issue of Erin L. Skavang due to that Primary Beneficiary's death prior to receiving his share shall be distributed according to the Provision titled "Per Stirpes." Following the death of the Trustor, the Successor Trustee(s) shall distribute to Kelly A. Holdsworth according to the following schedule: The Successor Trustee(s) shall distribute 1/3 (one-third) ofthe share outright as soon as practicable. All income, dividends and interest generated from the remaining share shall be distributed annually to the Beneficiary. The Successor Trustee(s) shall distribute an additional 1/2 (one-half) of the remaining share at the fourth (4th) year anniversary of the death of the Trustor. The Successor Trustee(s) shall distribute the remaining balance of the share at the eighth (8th) year anniversary of the death of the Trustor. Any share allocated to the issue of Kelly A. Holdsworth due to that Primary Beneficiary's death prior to receiving his share shall be distributed according to the Provision titled "Per Stirpes." All other provisions of the Trust shall remain in full force and effect. IN WITNESS WHEREOF, The provisions of this amendment shall bind Carl J. Boyle as Trustor and Trustee, the Successor Trustee(s) assuming the role of Trustee hereunder, and the beneficiaries of this Trust as well as the successors and assigns. CARL J. BOYLE REVOCABLE LIVING TRUST AMENDMENT, PAGE 2 .. ~. .,. Dated at Allentown, Pennsylvania, on this 11th day of September, 1997. TRUSTOR: ~~cd WITNESS 'J ccf:;(fZr TRUSTEE: ~9Z~~ CARL IlR5'YLE c::7 IZkJr4/U viITNESS CERTIFICATE OF ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF LEHIGH On this, the 11th day of September, 1997, before me, a Notary Public, the undersigned officer, personally appeared Carl J. Boyle, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrwnent, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I have hereunto set my hand and notarial seal. ~~ .:/ &4~JKih.~. Notary Public My Commission Expires: :3/, V z....I..) I NoTARIAl.. SEAL ROBIN L ClJNCONAN-rAHR, NoIaJy Public Lower IIacllllgfe Twill Lehlgll CoUllly PA My Corunisslon Explrls /llIch 12, 2(101 CARL J. BOYLE REVOCABLE LIVING TRUST AMENDMENT, PAGE 3 LAST WILL AND TESTAMENT OF CARL J. BOYLE IDENTITY I, Carl J. Boyle, residing in the County of Cumberland, Commonwealth of Pennsylvania, being of sound mind and memory, and not acting under duress or undue influence of any person whomsoever, hereby declare this to be my Last Will and Testament, and I do hereby revoke all other and former Wills and Codicils to Wills heretofore made by me. My children are Darren P. Boyle, Erin L. Skavang and Kelly A. Holdsworth. PERSONAL AND HOUSEHOLD EFFECTS It is my intent that all my personal and household effects were transferred to my Living Trust as a result of the "ASSIGNMENT OF FURNITURE, FURNISHINGS AND PERSONAL EFFECTS" signed this date. If there is any question regarding the ownership or disposition of these assets, it is my desire that such assets pour into the Living Trust, signed by me this date, in accordance with the provisions of the section titled "Residue of Estate" . RESIDUE OF ESTATE I give, devise and bequeath all the rest, residue and remainder of my property of every kind and description (including lapsed legacies and devises), wherever situated and whether acquired before or after the execution of this Will, to the Trustee under that certain Trust executed by me, which is known as "The Carl J. Boyle Trust, dated August 26, 1997, Carl J. Boyle, Trustor and/or Trustee". The Trustee shall add the property bequeathed and devised by this Item to the corpus of the above described Trust and shall hold, administer and distribute said property in accordance with the provisions of the said Trust, including any amendments thereto made before my death. lffor any reason the said Trust shall not be in existence at the time of my death, or if for any reason a court of competent jurisdiction shall declare the foregoing testamentary disposition of the Trustee under said Trust as it exits at the time of my death to be invalid, then I give all of my estate including the residue and remainder thereof to that person who would have been the Trustee under the Trust, as Trustee, and to their substitutes and successors under the Trust, described hereinabove, to be held, managed, invested, reinvested and distributed by the Trustee upon the terms, trusts and conditions pertaining to the period beginning with the date of my death as are constituted in the Trust as at present constituted giving effect to amendments, if any, hereafter made and for that purpose I do hereby incorporate such Trust by reference into this my Last Will and Testament. CARL J. BOYLE LAST WILL AND TESTAMENT, PAGE 1 EXECUTOR I hereby nominate and appoint Darren P. Boyle, Erin L. Skavang and Kelly A. Holdsworth as Co-Executors of this my Last Will and Testament to serve without bond. When more than one person is named with others to act as Co-Executors and one of the named persons is unable or unwilling for any reason to serve or to continue to serve, and no additional persons are named herein to take the place of such declining or retiring Executor, I hereby direct that the remaining named Co-Executor(s) shall continue to serve as Co-Executors (or if only one remains, Executor) hereof without the approval of any court. Whenever the word "Executor" or any modifying or substituted pronoun therefor is used in this my Will, such words and respective pronouns shall be held and taken to include both the singular and the plural, the masculine, feminine and neuter gender thereof, and shall apply equally to the Executor named herein and to any successor or substitute Executor acting hereunder, and such successor or substitute Executor shall possess all the rights, powers and duties, authority and responsibility conferred upon the Executor originally named herein. EXECUTOR POWERS By way of illustration and not of limitation and in addition to any inherent, implied or statutory powers granted to executors generally, my Executor is specifically authorized and empowered with respect to any property, real or personal, at any time held under any provision of this my Will: to allot, allocate between principal and income, assign, borrow, buy, care for, collect, compromise claims, contract with respect to, continue any business of mine, convey, convert, deal with, dispose of, enter into, exchange, hold, improve, incorporate any business of mine, invest, lease, manage, mortgage, grant and exercise options with respect to, take possession of, pledge, receive, release, repair, sell, sue for, make distributions in cash or in kind or partly in each without regard to the income tax basis of such asset and in general, exercise all of the powers in the management of my Estate which any individual could exercise in the management of similar property owned in its own right upon such terms and conditions as to my Executor may seem best, and execute and deliver any and all instruments and do all acts which my Executor may deem proper or necessary to carry out the purposes of this my Will, without being limited in any way by the specific grants of power made, and without the necessity of a court order. My Executor shall have absolute discretion, but shall not be required, to make adjustments in the rights of any beneficiaries, or among the principal and income accounts to compensate for the consequences of any tax decision or election, or of any investment or administrative decision, that my Executor believes has had the effect, directly or indirectly, of preferring one beneficiary or group of beneficiaries over others. In determining the federal estate and income tax liabilities of my estate, my Executor shall have discretion to select the valuation date and to determine whether any or all of the allowable administration expenses in my estate shall be used as federal estate tax deductions or as federal income tax deductions CARL J. BOYLE LAST WILL AND TESTAMENT, PAGE 2 GLOSSARY OF TERMS For the purposes of this my Will, "children" means the lawful blood descendants in the first degree of the parent designated and "issue" and "descendants" mean the lawful blood descendants in any degree of the ancestor designated; provided, however, that if a person has been adopted, that person shall be considered a child of such adopting parent and such adopted child and his issue shall be considered as issue of the adopting parent or parents and of anyone who is by blood or adoption an ancestor of the adopting parent or either of the adopting parents. The terms "child," "children," "issue," "descendant" and "descendants" or those terms preceded by the terms "living" or "then living" shall include the lawful blood descendant in the first degree of the parent designated even though such descendant is born after the death of such parent. SPECIFIC OMISSIONS I have intentionally omitted any and all persons and entities from this, my Last Will and Testament, except those persons and entities specifically named herein, and I have also intentionally omitted any and all persons and entities from this, my Last Will and Testament, who are not persons or entities specifically named in the The Carl 1. Boyle Trust, dated August 26, 1997. It is my intention that any and all persons and entities, whether or not named in this Will or said Trust, shall have an interest in my estate and property, including the said Trust, if and only to the extent that I have provided for them in this Will and in the said Trust. If any person or entity shall challenge this Will or any term or condition thereof, or of the Living Trust to which I have herein made reference, or any term or condition thereof, then, to that person or entity I give and bequeath the sum of one dollar ($1.00) only in lieu and in place of any other benefit, grant, bequest or interest which that person or interest may have in my general and Probate Estate or the Living Trust and its Estate. I specifically disinherit any person or persons claiming an interest in my estate through this, my Last Will and Testament, or through the previously named Trust, as my child, the issue of my body. who are born more than nine and one-half months after my death. SIMULTANEOUS DEATH If any beneficiary should not survive me for sixty (60) days, then it shall be conclusively presumed for the purposes of this my Will that said beneficiary predeceased me. CARL J. BOYLE LAST WILL AND TESTAMENT, PAGE 3 IN WITNESS WHEREOF, I have hereunto set my hand and declared this to be my Last Will and Testament this 26th day of August, 1997. ~/;7~~/~' v Carl J. B6Yt'e SIGNED, SEALED, PUBLISHED and DECLARED by the above testator as and for her last will, in the presence of us, who thereupon at her request, in his last will, in the presence of us, have hereunto subscribed our names as witnesses: ^ J& ' /'c !L,?C:L KI ~ . , WItness address 4972 Medical Center Circle Allentown, Pennsylvania 18106 ~Zd )II J:;JiJ address 4972 Medical Center Circle Allentown, P A 18106 CARL J. BOYLE LAST WILL AND TESTAMENT, PAGE 4 SELF PROOF OF WILL ss. ( ( ( COUNTY OF LEHIGH COMMONWEALTH OF PENNSYLVANIA We, Carl J. Boyle, Todd H. Lahr, Esq. and Christine M. Smyth, the Testator and the witnesses, respectively, whose names are signed to the foregoing instrument, being duly sworn, do hereby declare to the undersigned authority that the Testator executed it as his free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the Testator, signed the will as witness and that to the best of each witness's knowledge the Testator was at the time eighteen years of age or older, of sound mind and under no constraint or undue influence. ~d~ Witness /ZAd;,/ /tl,ty~ Whness ~/9 E~/~ earl J. Boylt SUBSCRIBED, SWORN TO AND ACKNOWLEDGED before me, by Carl J. Boyle, the Testator, and subscribed and sworn to before me by Todd H. Lahr, Esq. and Christine M. Smyth, witnesses, this 26th day of August, 1997. 'i~~lL '/ {~4( e~ J,utl "p-'~ NOTARY PUBLIC NOTARY SEAL My Commission Expires: Si / ;'Z; Z-oo J NOTARIAL SEAL ROBIN l. CUNCONAN-t.AHR. NoIaJy Public lOWtIl.llCungie Twp.,Jehigh County, PA I lit CQlMlissian Expkes March 12, 2001 CARL J. BOYLE LAST WILL AND TESTAMENT, PAGE 5 , Cumberland County Board of Assessment Appeals Old Courthouse One Courthouse Square Carlisle, PA 17013 (717) 240-6350 (717) 240-6354 (fax) Board of Assessment Appeals Lloyd W. Bucher R. Fred Hefelfinger Sarah Hughes RANDY L. WAGGONER Chief Assessor STEVEN D. TILEY Assistant Solicitor DECISION ORDER MAILING DATE: September 5, 2000 PARCEL NUMBER: 45-16-1049-045. BOYLE, CARL J TRUST TR 504 NORTH FRONT STREET WEST FAIRVIEW PA 17025 Dear Property Owner: This letter is to officially notify you of the decision of the Cumberland County Board of Assessment Appeals regarding the above-referenced parcel. DATE OF APPEAL HEARING: 09/05/2000- DATE DECISION RENDERED: 09/05/2000 EFFECTIVE FOR TAX YEAR: 2001 DECISION RENDERED: [] Withdrawn By Applicant [ ] Abandoned For Failure To Appear [ ] Denied - No Change [X] Approved Review Appraiser's Changes [ ] Revised Assessment Based on Hearing [ ] Other: . TOTAL VALUE FAIR MARKET CLEAN AND GREEN CLEAN AND GREEN STATUS Old Assessed Value: New Assessed Value: 142,800 120,430 NOT APPLICABLE BOARD OF ASSESSMENT APPEALS: Lloyd W. Bucher R. Fred Hefelfinger Sarah Hughes ~ NAPD