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HomeMy WebLinkAbout07-19-06 (2) REV-1500 EX (1)-00) OFFICIAl USE ONLY COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE DEPT. 280601 HARRISBURG, PA 17128-0601 REV -1500 INHERITANCE TAX RETURN RESIDENT DECEDENT FILE NUMBER ~L. COUNTY CODE ~L 10~___ YEAR NUMBER I- Z W C W U W C DECEDENTS NAME (LAST, FIRST, AND MIDDLE INITIAL) Gre 0 Ra ond DATE OF DEATH (MM-DD-YEAR) DATE OF BIRTH (MM-DD-YEAR) 10/19/2005 1/2/1943 (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) E SOCIAL SECURITY NUMBER 265-64-7852 THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS SOCIAL SECURITY NUMBER ~ [i] 1. Original Return ~~(/) D u lX~ 4. Limited Estate wQ.U J: 00 D U lX..J 6. Decedent Died Testate (Attach copy of Will) Q.lll ~ D 9. Litigation Proceeds Received D 2. Supplemental Return D 3. RI~mainder Return (date of death prior to 12-13-82) D 4a. Future Interest Compromise (date of death after 12-12-82) D 5. Federal Estate Tax Return Required D 7. Decedent Maintained a Living Trust (Attach copy of Trust) L 8. Total Number of Safe Deposit Boxes D 10. Spousal Poverty Credit (Oale of death between 12-31.91 and 1-1-95) D 11. I=Iection to tax under Sec. 9113(A)(AttachSchol THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: NAME COMPLETE MAILING ADDRESS I- Z W C Z o Q. U) W ac ac o u David K. Kruft, Es ire FI RM NAME (If Applicable) Rhoads & Sinon LLP TELEPHONE NUMBER PO Box 1146 Harrisburg PA 17108-1146 717-233-5731 4. Mortgages & Notes Receivable (Schedule D) 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) (4) 215,000.00 107,290.82 0.00 0.00 OFFJCLAL UsE'CNL Y 1. Real Estate (Schedule A) (1) 2. Stocks and Bonds (Schedule B) (2) 3. Closely Held Corporation, Partnership or Sole-Proprietorship (3) z o ~ ~ :) !:: Q. < U w ~ 6. Jointly Owned Property (Schedule F) (6) o Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7) (Schedule G or L) 27,496.09 0.00 (5) 401,236.02 \.,f) 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10) (8) 44,375.39 1,461. 99 751,022.93 8. Total Gross Assets (total Lines 1-7) 9. Funeral Expenses & Administrative Costs (Schedule H) (9) (13) 45,837.38 705,185.55 0.00 11. Total Deductions (total Lines 9 & 10) (11) 12. Net Value of Estate (Line 8 minus Line 11) 13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been made (Schedule J) (12) 14. Net Value Subject to Tax (Line 12 minus Line 13) (14) 705,185.55 SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax z rate, or transfers under Sec. 9116 (a)(1.2) o i= cl: 16. Amou nt of Line 14 taxable at lineal rate I- ::J ~ 17. Amount of Line 14 taxable at sibling rate o U 18. Amount of Line 14 taxable at collateral rate X ~ 19. Tax Due 20.0 0.00 705,185.56 0.00 0.00 x .0 ~(15) x .0 ~(16) x .12 (17) x.15 (18) (19) 0.00 31,733.35 0.00 0.00 31,733.35 CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT > > BE SURE TO ANSWER ALL QUESTIONS ON REVERSE SIDE AND RECHECK MATH < < 3W4845 1.000 Decedent's Complete Address: S1REET ADDRESS 305 E. Elmwood Avenue Cumberland CI1Y I STATE I ZIP Mechanicsburq Pl~ 17055-4206 Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. Credits/Payments A. Spousal Poverty Credit B. Prior Payments C. Discount (1) 0.00 0.00 0.00 Total Credits (A + B + C) (2) 3. Interest/Penalty if applicable D. Interest E. Penalty 0.00 0.00 Total Interest/Penalty (0 + E) (3) 4. If line 2 is greater than line 1 + line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund (4) 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. (5A) B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5B) Make Check Pa able to: REGISTER OF WILLS, AGENT 31,733.35 0.00 0.00 0.00 31,733.35 0.00 31,733.35 PLEASE ANSWER THE FOllOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS Yes D D D D without receiving adequate consideration? .. . . . . . . . . . . . . . . . . . . . . . . . . .. D 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or helr death? D 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. liJ D IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. 1. Did decedent make a transfer and: a. retain the use or income of the property transferred;. . . . . . . . . . . . . . . b. retain the right to designate who shall use the property transferred or its income; . c. retain a reversionary interest; or . . . . . . . . . . . . . . . . . . . . . . . . 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 No [] [] ~ Cil 09 og Dec,t~~n of preparer other than the personal representative is based on all information of which preparer has any knowledge. [) L Millersburg PA 17061 Mid Penn Bank 349 Union street SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE ~~~ Rhoads & Sinon LLP PO Box 1146 Harrisburg PA 17108-1146 i;; ;/;;:I!)& DATE 1I/~/~ 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 orfor the use of the surviving spouse is 3% [72 PS 99916 (a) (1.1)(i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0% [72 P.S. 99116 (a) (1.1) (Ii)) The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax retum are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1,2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the Lise of a natural parent, an adoptive parent, or a stepparent of the child is 0% [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 4.5%, except as noted in j'2 P.S. 9 9116(1.2) [72 P.S. 9 9116(a)(1)). 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. 9 9116(a)(1.3)], A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. 3W4646 1.000 Estate of Executors Name Address Tax ID 265-64-7852 (Page 1) Mid Penn Bank 349 Union Street Millersburg, PA 17061- 23-2176612 REV-1502 EX + (6-98) COMMONWEAL TH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE ESTATE OF FILE NUMBER Raymond E. Greqorv 21 05 1085 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable klnOwledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1. Real estate situate at 305 E Elmwood Ave, Mechanicsburg, more fully described in Deed Book 0031R, Page 0789 *Valued per attached appraisal 215,000.00 3W4695 1.000 TOTAL (Also enter on line 1, Recapitulation) (If more space is needed, insert additional sheets of the same size) $ 215,000.00 REV-1503 EX + (6-98) COMMONWEAL TH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE B STOCKS & BONDS ESTATE OF FILE NUMBER Raymond E. Greqory 21 05 1085 All property jointly-owned with right of survivorship must be disclosed on Schedule, F. ITEM NUMBER 1.2,600 Shares EBAY Inc Coxmnon CUSIP: 278642103 DESCRIPTION VALUE AT DATE OF DEATH 106,964.00 2 6 Shares IVAX Corp Coxmnon CUSIP: 465823102 164.00 3 59 Shares Paradigm Holdings Wyoming CUSIP: 69901V106 162.25 4 13 Shares Siti-sites.com Inc CUSIP: 847623303 0.39 5 6 Shares Southmark Corp CUSIP: 844544882 6 100 Shares Towle Mfg Co Pfd A CUSIP: 892008202 0.18 0.00 3W46961.000 TOTAL (Also enter on line 2, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 107,290.82 REV-1508 EX + (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF Raymond E. Gregory FILE NUMBER 21 05 1085 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1 1968 Chevrolet Camaro *Valued per attached appraisal 11,000.00 2 1988 Isuzu Rodeo *Valued per attached appraisal 375.00 3 Members 1st Federal Credit Union checking account #16031-11 Interest accrued to 10/19/2005 2,558.76 0.35 4 Cash found in residence 176.00 5 Members 1st Federal Credit Union savings account #16031-00 Interest accrued to 10/19/2005 542.51 0.27 6 Tangible personal property *Valued per attached appraisal 9,299.00 7 USAA Life Insurance Policy #00639183U2 Owner: Decedent Insured: John R. Gregory 1,698.67 8 USAA Life Insurance POlicy #00639183U3 Owner: Decedent Insured: Jennifer S. Gregory 1,845.53 3W46AD 1.000 TOTAL (Also enter on line 5, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) 27,496.09 REV-1510 EX + (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Raymond E. Gregory SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY FILE !NUMBER 21 05 1085 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes. DESCRIPTION OF PROPERTY ITEM II\O....LOE Tt-E IWWE OF n-e TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND DATE OF DEATH % OF DECO'S EXCl.USION TAXABLE NUMBER TI-E DATE OF TRANSFER. ATTACH A COPV OF THE DEED FOR REAL ESTATE VALUE OF ASSET INTEREST (IF APPLICABLE) VALUE 1. Smith Barney Roth Conversion IRA, acct #724-63563-10 550 Owner: Decedent Beneficiaries: Jennifer Gregory, John Gregory 401,236.02 100.0000 0.00 401,236.02 TOTAL (Also enter on line 7, Recapitulation) $ 401,236.02 (If more space Is needed. insert additional sheets of the same size) 3W46AF 1.000 REV-1511 EX + (12-99) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF Raymond E. Gregory ITEM NUMBER A. B. 3W46AG 1.000 Debts of decedent must be reported on Schedule I. DESCRIPTION FUNERAL EXPENSES: 1. Gingrich Memorials Headstone, foundation and setup Total from continuation schedules . 1. ADMINISTRATIVE COSTS: Personal Representative's Commissions Name of Personal Representative(s) Mid Penn Bank Social Security Number(s) / EIN Number of Personal Representative(s) Street Address 349 Union Street City Millersburg Zip 17061 State P A Year(s) Commission Paid: 2006 2. Attorney Fees 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. 1 Claude C. Wolfe & Associates Tangible personal property appraisal Total from continuation schedules . . FILE NUMBER 21 05 1085 TOTAL (Also enter on line 9. Recapitulation) (If more space is needed. insert additional sheets of the same size) $ AMOUNT 3,390.00 7,612.00 14,500.00 14,500.00 410.00 1,200.00 2,763.39 44,375.39 Estate of: Raymond E. Gregory 265-64-7852 Schedule H Part 1 (Page 2) Item No. Description Amount 2 Malpezzi Funeral Home Funeral expenses 7,612.00 Total (Carry forward to main schedule) 7,612.00 Estate of: Raymond E. Gregory 265-64-7852 Schedule H Part 7 (Page 2) 2 Clauser Real Estate Apprasals Real estate appraisal 350.00 3 Cumberland Law Journal Legal advertising 75.00 4 Duty's Lock, Safe and Security, Inc Change locks at real estate 109.62 5 Patriot News Legal advertising 155.73 6 PP&L 563.83 7 RESERVES: Cumberland County Register of Wills Reserves for additional probate 50.00 8 RESERVES: Group's Tax & Payroll Service Preparation of final personal tax returns 150.00 9 RESERVES: Rhoads & Sinon LLP Out of pocket expenses to include: Telephone - $32.78; Federal Express - $86.19; Postage - $24.06; Stock Evaluation - $7.75; Copies - $15.75; Mileage - $23.50; Courier - $10.00; Reserves for filing fees and expenses - $500.00 700.03 10 United Water - PA 62.88 11 USAA Insurance Co. Automobile insurance 215.26 12 USAA Life Insurance Co. Life insurance premiums for policies owned by decedent 84.00 13 Verizon 7.04 14 Nicholas Vogl Lawn Care 240.00 Total (Carry forward to main schedule) 2,763.39 REV-1512 EX + (12-03) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Raymond E. Gregory SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABiliTIES, & LIENS FILE NUMBER 21 05 1085 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1. Capital Area Surgical Associates, PC Medical expense 308.92 2 Hematology & Oncology Consultants of PA, PC Medical expense 153.48 3 Kantor & Tkatch Associates, PC Medical expense 207.00 4 RESERVES: United States Treasury Reserve for payment of 2005 personal income tax 200.00 5 Verizon 348.19 6 West Shore Anesthesia Medical expense 244.40 3W46AH 2.000 TOTAL (Also enter on line 10, Recapitulation) $ (If more space is needed. insert additional sheets of the same size) 1,461.. 99 REV-1513 EX+ (9-00) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX REruRN RESIDENT DECEDENT SCHEDULE J BENEFICIARIES NUMBER I 1 NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] see attached FILE NUMBER 21 05 1085 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE Do Not List Trustee,(s) OF ESTATE ESTATE OF Ravmond E. Greqorv 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 3W46AI1.000 TOTAL OF PART II - ENTER TOTAL NON.TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET (If more space is needed, insert additional sheets of the same size) $ 0.00 Estate of: Raymond E. Gregory 265-64-7852 Schedule J Part ~ (Page 2) Item No. Description Relation Amount 2 Jennifer Gregory USAA Life Insurance Policy #0063H83U3 Owner: Decedent Insured: Jennifer S. Gregory Inventory Value: ~,845.53 ~968 Chevrolet Camaro Inventory Value: 5,500.00 ~988 Isuzu Rodeo Inventory Value: 187.50 Real estate situate at 305 E Elmwood Ave, Mechanicsburg, more fully described in Deed Book 003~R, Page 0789 Inventory Value: 107,500.00 Smith Barney Roth Conversion IRA, acct #724-63563-~0 550 Owner: Decedent Beneficiaries: Jennifer Gregory, John Gregory Inventory Value: 200,618.0~ Tangible personal property *Valued per attached appraisal Inventory Value: 4,649.50 50% of Residue: 32,365.67 Daughter 352,666.21. Estate of: Raymond E. Gregory Schedule J Part 1 (Page 3) Item No. Description 3 John Gregory USAA Life Insurance Policy #00639183U2 Owner: Decedent Insured: John R. Gregory Inventory Value: 1,698.67 1968 Chevrolet Camaro Inventory Value: 5,500.00 1988 Isuzu Rodeo Inventory Value: 187.50 Real estate situate at 305 E Elmwood Ave, Mechanicsburg, more fully described in Deed Book 0031R, Page 0789 Inventory Value: 107,500.00 Tangible personal property Inventory Value: 4,649.50 Smith Barney Roth Conversion IRA, acct #724-63563-10 550 Owner: Decedent Beneficiaries: Jennifer Gregory, John Gregory Inventory Value: 200,618.01 50% of Residue: 32,365.67 Son 265-64-7852 Relation Amount 352,519.35 608146.1 ESTATE OF RAYMOND E. GREGORY SSN: 265-64-7852 DOD: 10/1912005 FILE NO.: 21-05-1085 PENNSYLVANIA INHERlT ANCE TAX RETURN INDEX TO EXHIBITS Document 1. Real estate appraisal 2. Stock valuation 3. Tangible personal property appraisal 4. Attachment to TPP appraisal 5. Members 1st Federal Credit Union letter 6. USAA Life letter for John Gregory policy 7. USAA Life letter for Jennifer Gregory policy 8. Stock valuation for IRA Return Reference Schedule A Schedule B Schedule E, Items 1,2,4,6 Schedule E Schedule E, Items 3,5 Schedule E, Item 7 Schedule E, Item 8 Schedule G APPRAISAL OF REAL PROPERTY LOCATED AT: 305 E Elmwood Ave Deed Book 0031 R Page 0789 Mechanicsburg, PA 17055-4206 FOR: Mid Penn Bank 349 Union SI. Millersburg, PA 17061 AS OF: 10-19-05 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 ill Borrower/Client Prooertv Address Gitv Lender Rle No. 6-0406 R-2 NA 305 E Elmwood Ave Mechanicsburo Mid Penn Bank Countv Cumberland State P A Zip Code 17055-4206 TABLE OF CONTENTS Gover Page ........ ............. .......... ............ ..... ..... ......... ......................... ...... ........ .......... .......... ..... .......................... ........... ............... ........ ....... ........ .............. 1 Summary of Salient Features '''''''' ...................................... ...... ""'''''''''''''''' ""'"'''''''''''' ........... ................ ""'''''''''''' ........... "'''' ........ .................. .......... . USP AP Identification ..... ................. ........... .......... ...... ......... ""'"'''''' ........ ........... ............ .................... ............... ................... ......,..... ..... ...... ...... """",,,,,,,, 3 URAR ............ ...... ......... ............ ...... ............... ........ ........ ...... ..................................................... ......... ......... .............. ........... ......... ........ ................ .......... 4 Property History of Subject Property . ........... """. ..........., "'"'''' ""'''''''''''' ....................... ""'"'''''''''''' ....... .............. ................. ..... ................. ................... 6 Subject Photos ....... ..."....... ....... ...... "'''''''''''' """""'" ........ .................. ",,,,,,,,,,, ....". """"",,,,,, ........... """'"'''''' ........, "'''''' ......... ""'" ....... ........... ............. 7 Building Sketch (Page - 1) ...... ....... ....... ...... ....... ...... ",,,,,,,,, ........... ................................... "'"'''''''''''''''''''''''' ....... """'''''' ............ ..... ..................... "'"'''''' 8 Comparable Photos 1-3 .... """,,,,,,, ........ ...... ................. ..... "'''' ................... ......... ..... .." ........ .............. """'''''' ........ ............. .............................. ...... .......... 9 Location Map '''''''''' .............. "'" ............ .........,...... ...... ..... ""'''''''''''''''' ...... ....................................... .......... ........ ................, ............ ........ ......... ........ ........ 10 Intended Use............... ................. ........... ........................ ............... ...." ........ ..... ........ ........ ................... """"'''' ..........,........ ............... ............ ........ ............ 11 Appraisal Addendum - Special Conditions .......................................................................................................................................................................... 12 Statement of Limiting Conditions .... ...... ................ ........... ...... .................. ............. ........................................... ........... .......................... ..... ....... ..... ............ 13 Electronic Slgnaturre Compliance . ................................ ................ .......... ............................ ............. ............. ...... .......... ............... ............... ........ ................ 15 Certificate .... . ............ .......... "'''' ..... ................... ............................. ........... ...... ...... ........... ..... .................................. ... ...... .......... """"""'"'''''''''''''' 16 Invoice ......................... .......... ..................... ................ ...... .......... ........................ ................ .................. """"'"'''''' .......................... ................. ...... .......... 17 Form TOCNP - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE ~ SUMMARY OF SALIENT FEATURES Subject Address 305 E Elmwood Ave Legal Description Deed Book 0031 R Page 0789 - City Mechanicsburg County Cumberland State PA ,. Zip Code 17055-4206 Census Tract 42041-0115.00-2 Map Reference 25420 Sale Price $ NA . Date of Sale NA Borrower / Client NA Lender Mid Penn Bank Size (Square Feet) 2,028 Price per Square Foot $ Location Suburban - . Age 47 - - Condition Avg T etal Rooms 8 Bedrooms 4 Baths 2 Appraiser Dennis L. Stover Date of Appraised Vaiue 10-19-05 Rnal Estimate of Value $ 215,000 Form SSD - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE [Eilqe #21 lpage#31 Rle No. 6-0406 R-2 ~ Borrower NA Prooertv Address 305 E Elmwood Ave City Mechanicsour<:l Lender Mid Penn Bank Countv Cumoerland State PA ZiD Code 17055-4206 APPRAISAL AND REPORT IDENTIFICATION This appraisal conforms to one of the following definitions: ] [5S) Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without invoking the Departure Rule.) Li 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 performed under STANDAFID 1.) [5S) Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDAFlD 1.) o Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDAFlD 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 US PAP-related issues requiring disclosure: APPRAISER: Signature: ~ 1. .si= Name: Dennis L. Stover Dale Signed: 4-17-06 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: Stale Certification #: or State License #: State: Expiration Dale of Certification or License: o Did o DId Not Inspect Property GEORGE CLAUSER Form 102 - "WinTOTAL" appraisal software by a la mode, inc. -l-BOO-ALAMODE GEORGE CLAUSER !J'age #41 Summary Report File No 6-0406 R-2 Pro ..rtv Descrlntlon UNIFORM RESIDENTIAL APPRAISAL REPORT prooertv Address 305 E Elmwood Ave Cifv Mechanicsburo State PA liD Code 17055-4206 LeoalDescriotion Deed Book 0031 R Paoe 0789 Countv Cumberland Assessor's Parcel No, 17-24-0787-143A Tax Year 05-06 R.E, Taxes $ 3,433 Special Assessments $ NA Borrower NA Current Owner The Estate of Ravmond E. Greaorv Occuoan!: IX) Owner I.l Tenant Ii Vacant .. ProOl!rtv rinhts annraised J>(, Fee Simnle Leasehold Pro'ect Tvne I PUD I I Condominium (HUONA onlv\ HOA $ NA /Mo. Nelnhborhood or Proiect Name Mechanicsburo Man Reference 25420 Census Tract 42041-0115,00-2 Sale Price ~ NA Date of Sale NA Descrtndan and $ amount at loan charaes/concessions 10 be oaid bv seller NA Lender/Client Mid Penn Bank Address 349 Union St. Millersbura. PA 17061 Aooralser Dennis L. Stover Address p, O. Box 777 Camo Hill PA 17001-0777 Location O. Urban f;71 Suburban 0 Rural Predominant _~ngle family housing Present land use % Land use change ""I PRICE AGE , Built up 0 Over 75% kS1 25-75% 0 Under 25% occupancy $(000) (yrs) One family ~ 0 Not likely [] Likely Growth rate C Rapid kS1 Stable 0 Slow kS1 Owner 70 Low ~ 2-4 family ~ kS1ln process Propertyvalues r;;<;J Increasing 0 Stable 0 Declining 0 Tenant 850 Hioh 150 Muiti-family ~ To' vacant land to Demand/supply r;;<;J Shortage 0 In balance 0 Over supply kS1 Vacant (0-5%) llI"'!Ill Predominant 1!f!!!','!lI\1I Commercial 5 residential development Marketinn time rx; Under 3 mas, n 3-6 mos. n Over 6 mas, Fi Vac.lover 5%1 145 25 Vacant 15 Note: Race and the raclel composition of the neighborhood are not appralsel factors. Neighborhood boundaries and characteristics: The subject neighborhood consists of the Borough of Mechanicsburg 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,): Shoooino. schools and churches are located within 5-10 minutes of the orooertv. Full service shoooino is available at the Camp Hill and ., Caoital Citv malls aooroximatelv 10-15 minutes. Public school students attend the Mechanicsbura SchOOl District. Employment centecs are located in Harrisburo. Camo Hill York, and Mechanicsburo. Market conditions in the subject neighborhood 0ncluding support for the above conclusions related to the trend of property values, demand/supply, and marketing time - such as data on competitive properties for saie in the neighborhood, description of the prevalence of sales and financing concessions, ete): Market conditions in the subiect neiahborhood are considered moderately active with low mortaaQe interest rates beinQ the primary catalyst. Sales in recent weeks have been moderatelv active. Aooroximatelv 5 houses of various stvles are for sale within 5 miles and are in competition with the subiect. Tvoical financina for residential properties includes 80% to 90% loan 1-3ooints 5.5-6.5% mortgage interest rates for up to 30 vears. Tvoical marketino time is betvveen 30 and 90 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 unils in the subject project Approximate total number of units for sale in the subject project Describe common elements and recreational facilities: Dimensions From County Records Topography Avg Sile area .44 Acres Comer Lot 0 Yes ~ No Size Avg Specific zoning classilication and description RL Residential Low Density Shape Rectangular Zoning compliance kS1 Legal 0 Legal nonconforming (Grandfathered use) 0 Illegal 0 No zoning Drainage Avg Hlohest & best use as imoroved: 1)(1 Present use n Other use (exuiain) View Avg Utilities Public Other OIf-slte Improvements Type Public Private Landscaping A vg Electricity kS1 200 AMP Street Macadam kS1 D Driveway Surface Macadam Gas 0 NA Curblgutter Concrete kS1 0 Apparent easements None Known Water kS1 Sidewalk Concrete kS1 0 FEMA Special Rood Hazard Area 0 Yes ~ No Sanilary sewer ~ Street lights Incandescent . ~ g FEMA lone X Map Date 313/1992 Storm sewer Ri Allev None I I I I FEMA Maa No, 4203620005D Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): aooarent easements encroachments soecial assessments slide areas or illegal or leaal nonconformina uses known. -- There are 110 GENERAL DESCRIPTION EXTERIOR DESCRIPTiON No, of Unils One Foundation ConcrBlock No, of Stories 2 Exterior Walls Brick/Aluminum Type (DetJAtt.) Detach~ Roof Surface FG/Shnal Design (Style) Solit-Level Gutters & Dwnspts, Aluminum ExisfingIProposed Existina Window Type DblHuno Age (Yrs,) 47 Stann/Screens Screens Effective Ane rYrs.\ 15 Manufactured House No ROOMS Faver Livino Dinino Kitchen - Basement Levei 1 - Level 2 - Levei 3 . Finished area above nrade contains: INTERIOR MaterialS/Condition - Roars Slate/Hdw/CntlCT A Walls Drvwal/ AVQ Trim/Rnish Wood Ava Bath Roar Vinvl Ava Bath Wainscot Ceramic Tile Avo Doors W ood Ava FOUNDATiON Slab 0 Crawl Space 0 Basement Partial Sump Pump Yes Dampness No Evidence Settfement No Evidence Infestation No Evidence Familv Rm, Rec. Rm, Bedrooms 1 BASEMENT Area Sq, Ft. 624 % Rnlshed 75% Ceiling OoenlDrv Walls Pan/Blk Roar Con/Cot Outside Entry NA iNSULATiON Roof __ D Ceiling ~_ kS1 Walls ~_ kS1 Roar ~_ ~ None __ 0 Unknown__ D Den # Baths Laundrv 1 Other 2028 Area Sa. Ft. 624 676 624 728 S uare Feet of Gross Livino Area CAR STORAGE: None D Garage Attached Detached Buiil-In Carport Drlvewav # of cars ~~ NA_ NA J':!t~ 2 Cars .5 3 8 Rooms' 4 Bedroom(sl: 2.5 Bath s): HEATING KITCHEN EQUIP, ATTIC AMENITIES Type BB Refrigerator 0 None 0 Rreplace(s) # Insert ~ Fuel Electric Range/Oven kS1 Stairs D Patio Rear kS1 Condition Avo Disposal 0 Drop Stair 0 Deck Rear ~ COOLING Dishwasher D Scuttfe ~ Porch Front 0 Central NA Fan/HODd 0 Roar 0 Fence NA 0 Other NA Microwave 0 Heated 0 Pool NA 0 Condition Avo WasherlDrver n Rnished n Shed Ri Additional features (special energy efficient items, etc.): Dwelling appears to be in average condition. 2 Condition of the improvements, depreciation (physical, functional, and extemal), repairs needed, quality of construction, remodeling/additions, etc.: Subject Is a sollt-Ievel slvle dwellino in averaae condition with a tvvo car attached aaraae. Phvsical: Deoreciation due to aae and condition. Functional: No cental air. External: No adverse locationai features noted. This reoort is NOT a home inspection and the aooraiser only performed a visual - insoection of accessible area and that the aooraisal cannot be relied uoon to disciose conditions and/or defects in the properly, Adverse environmental conditions (such as, but not lim~ed to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate Vicinity of the subject property.: None Known - appraiser is not qualified to detect such substances. If the house is sold, termite and radon certifications are suooested. Houses built before 1978 may contain lead base oaint. Freddie Mac Form 70 6193 PAGE 1 OF 2 Form UA2 - "WinTOTAL" appraisal software by a la mode, inc, -1-800-ALAMODE Fannie Mae FOIm 1004 6193 UNIFORM RESIDENTIAL APPRAISAL REpORT I]~n Summary'Report FIle No. 6-0406 R-2 Valuation SectJon ESTIMATED SITE VALUE ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: Dwelling 2,026 Sq, Ft. @$ 91.97 - $ 624 Sq, Ft. @$ 2.00 = . Garage/Carport ~ Sq, Ft. @$ Total Es~mated Cost New... Less Physical Deprecia~on 61 ,3491 Depreciated Value of Improvements "As-is" Value of S~e Improvements ." INDICATED VALUE BY COST APPROACH ITEM SUBJECT 305 E Elmwood Ave Address Mechanicsburo Proxin;;;;;- to Sublect Sales Price Price/Gross Livino Area Data and/or Verifica~on Source VALUE ADJUSTMENTS Sales or Rnancing Concessions Date of Salemme Loca~on Leasehold/Fee Simnie S~e View Desion and Aooeal Qualitv of Construc~on Ane Condi~on Above Grade Room Count Gross Livinn Area Basement & Rnished - Rooms Below Grade Functional Utilitv = HeatinnlCoolino - Enernv Efficient ~ems Garan~JCarnnrt Porch, Pa~o, Deck, Rrenlace1s' etc, Fence Pool etc, ....= $ Func~onal Extemal 3,000 I =$ ....... ' =$ , " "".""."",..",.., =$ ,.. .......... ~$ COMPARABLE NO, 1 COMPARABLE NO, 2 COMPARABLE NO, 3 11 Big Horn Ave, 602 Somerset Dr. 916 Gettysburg Pike Mechanicsburo Mechanicsburo Mechanlcsburo , ,,' 2,5 miles SE 0.44 miles NE 3.21 miles S $ NA / ,,'" 1$ 210000 li 193 400 I~ r~ c/J~ 87,94c/J1 ".' ..',,, 't 107,44c/J1 I~ 77.39c/J1 Inspection CPML, Courthouse, Realtor CPML, Courthouse, Realtor CPML, Courthouse, Realtor ~ ~ ~ DESCRIPTION DESCRIPTION +( -)$ Adjust. DESCRIPTION +(-)$ Adjust. DESCRIPTION , , ;, .,,,. ,", ,'. Conventional Conventional Conventional ,.' "', Y';."" None Known None Known None Known '"" "'" " 7/22/05 MT 11 7/8/05 MT 4 4/15/04 MT 16 : Suburban Suburban/lnf: +5 000 Suburban: Suburban/lnf Fee Simole Fee Simole Fee Simole Fee Simole ,44 Acres .26 Acres : +5 000 .21 Acres : +5 000 .48 Acres Avn Ava : Enual Enual Solit-Level Solit Level Snlit-Level Solit-level Ava Avo Ava Avo 47 34 28: -5 000 46 Ava Ava Enual Enual Total: Bdrms: Baths Total :Bdrms: Baths: Total :Bdrms: Baths: Total :Bdrms: Baths: 8 4: 2.5 8: 3 2.5: 8 : 3 2.5 9 4,' 3 : 2028 Sa, Ft. 2388 Sa, Ft. : -5400 1 800 So. Fl. : +3420 2,778 Sq, Fl. : Partial/Part Finish Partial Unfinished : Partial/Part Finish : Partial/Part Finish : RRlLau/Stor Storace +2 000 RRllau/Stor BRlOfclRR Avn Ava Avo: Avo EBB/No CA EBB/CA -3000 EBB/CA -3000 OFVVAlCA Insulation Insulation " Insulation 'nsulation 2 Car Attached 1 Car Built-in +2 000 1 Car Built-in : +2 000 2 Car Attached : Patio/Deck Deck/Patio Porch Deck 1 FPwflnsert 1 FP : 1 FP 2 FP Shed NA Shed Shed NA NA : NA : NA NetAdi, Itotal\'.">/'; IX1 + rl- '$ 5600 iYI + il- :$ 2420 rl + 1X1- :~ Adjusted Sales Price \,,\,~: F, 'II I I ofComnarable<;'ic,'c I .......1$ 215600 ..... I~ 195820 1$ 203250 Comments on Sales Comparison (including the subject property's compa~bility to the neighborhood, etc.): Sales used were all reasonably similar styll~ dwellings in the same neiQhborhood and subject to reasonably similar amenities. Adiustments were based on market extraction and/or ! iudoment. The indicated value ranoe on the above orid extends from $195 820 to $215600, The indicated market value is estimated to be iess than the unner end of the value ranoe and at $215,000. ..= $ Comments on Cost Approach (such as, source of cast es~mate, site vaiue, square toot calcula~on and tor HUD, VA and FmHA, the estimated remaining economic life of the property): Source of Costs: Marshall Valuation Service and local Contractors. 60 000 186,515 1,248 33,20 = 16,733 204,496 Estimated remaininG economic life of the dwellino is 50 vears. -- 64 349 140147 15000 215,147 -- -- 215000 : +(-)~ +5 000 +5 000 -1,500 -11250 -4 000 -3000 -2 000 11750 ITEM SUBJECT COMPARABLE NO, 1 COMPARABLE NO, 2 COMPARABLE NO, 3 Date, Price and Data Not in the last Not in the last year. Not in the last year. Not in the last year. Source, for prior sales year. MlS MlS MlS within vearof anoraisal CCTAO 4-14-06 4-14-06 4-14-06 Analysis of any current agreement of sale, op~on, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal: The sub'ect is not currentlv offered for sale or under an aoreement of sale. No nrior sales within three vears. INDICATED VALUE BY SALES COMPARISON APPROACH ......... $ 215000 INDICATED VALUE BY INCOME APPROACH (if Annllcablel Es~mated M;;,j;~iRe~i""$--""NA" . ";M~,~Gro~;Re~tM~lfi~li~; NA "~$ NA This appraisal is made 1:8:1 "as is' 0 subject to the repairs, a~era~ons, inspec~ons or condi~ons listed below 0 subject to comple~on per piers & speclfica~ons, Conditions of Appraisal: If property is sold, subject to satisfactory termite and radon certifications with appraised value based on clear test relsults, Final Reconcilla~on: Insufficient market data was available to process the Income Approach. The Cost Approach is considered and used as a check far this aooraisal and lvoicallv sets the UDDer limit of value, The Sales ComDarison Aocroach is deemed most reliable and oiven oreatest weioht. ~ The purpose of this appraisal is to es~mate 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 OF THIS REPORT, AS OF 1 o-19-0e, (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 215,000 A~PRAISE~ c-=: / S~PERV1S0RY APPRAISER (ONLY IF REQUIRED): Signature ~_ ). ~ Signature Name Dennis L. Stover Name Date Report Signed 4-17-06 Date Report Signed State Certification # PA State Certified Residential Real Est; State PA State Certification # Or State License # Certification Number: Rl138906 State PA Or State License # Freddie Mac Form 70 6/93 o Did [J Did Not Inspect Property State Statl) PAGE 2 OF 2 Form UA2 - "WinTOTAL" appraisal soltware by a la mode, inc, -1-800-ALAMODE Fannie Mae Fonll1 004 6-93 GEORGE CLAUSER D'ane #61 File No. 6-0406 R-2 ~ Borrower NA ProDertv Address 305 E Elmwood Ave Citv Mechanicsburo Lender Mid Penn Bank County Cumberland State PA Zip Code 17055-4206 PROPERTY HISTORY OF SUBJECT PROPERTY In developing a real property appraisal, when the value opinion to be developed is market value, an appraiser must, if such information is available to the appraiser in the nonnal course of business: (a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal. (b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. The appraiser has attempted to obtain specific information on the subject property with the following findings: I,8J The subject property has had no change of ownership in the past three (3) years. I,8J The subject property has had no change of ownership in the past five (5) years. o The subject property is currently under contract. Details of the pending purchase are summarized below. o The subject property is currently offered for sale: The listing price is $ o The subject property has been sold in the past three (3) year period. Details of the previous sale(s) are disclosed below. Sala/Recording Date Sales Price List/Asking Price Grantor/Grantee Data Source ~ LJ The subject property is proposed construction and is not currentiy being offered. o A previous sales history of the subject property could not be obtained by the appraiser in the normal course of business. Comments: Form PHS2 - "WinTOTAL" appraisal software by a la mode, inc. -1-BOO-AlAMODE [E:lge # 71 Subject Photo Page Borrower/Client NA PropertY Address 305 E Elmwood Ave City Mechanicsbul"ll County Cumberland State PA ZiD Code 17055-4206 Lender Mid Penn Bank Subject Front 305 E. Elmwood Ave. Sales Price NA Gross Living Area 2,028 Total Rooms 8 Total Bedrooms 4 Total Bathrooms 2 Location Suburban View Avg Site .44 Acres Quality A vg Age 47 Subject Rear Subject Street Form PICPIX.SR - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE [l'IQe #81 Building Sketch Borrower/Client Property Address City Lender NA 305 E Elmwood Ave Mechanicsburg Mid Penn Bank County Cumberland State P A Zip Code H0554206 ~ 305 E. ELMWOOD AVE. SECOND LEVEL FIRST LEVEL THIRD LEVEL 24.0' 26.0' PATIO 26.0' MASTER DINING :c FAMILY ROOM BATH MASTER KITCHEN ~ ROOM lD BATH BEDROO! " " " "1 " 21.0' " " ~ ~ ~ re " g:i g:i 1!i LiVING ROOM BEDROOM BEDROOM 2 CAR GARAGE FOYER BEDROOM 24.0' PORCH 26.0' 21.0' 26.0' BASEMENT 24.0' :; 0 LAUNDRY 0 '" " " u ~ w ~ '" REC ROOM NOT EXACT AND NOT TO SCALE 24.0' Sketctlby"~IV'" Comments: AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Codo Doscrtptlon NotSI". Not Totals Breakdown Subtotals GLAl First Leval 676.0 676.0 !"irst Level GLA2 Second Level 624.0 624.0 26.0 x 26.0 676.0 GI.A3 Third Level 728.0 728.0 Second L.w&l BSMT Basement 624.0 624.0 24.0 x 26.0 624.0 GAR Attached Garage 504.0 504.0 Third Level 26.0 x 28.0 728.0 Net LIVABLE Area (Rounded) 2028 3 Items (Rounded) 2028 Form SKT.BldSkl- "WinTOT AL" appraisal software by a la mode, inc. -1-800-ALAMODE OJaae #91 Comparable Photo Page Borrower/Client Prooertv Address Cltv Lender NA 305 E Elmwood Ave Mechanicsbura Mid Penn Bank Countv Cumberland State PA ZiD Code H~OO ~ Comparable 1 11 Big Hom Ave. ProX. to Subject 2.5 miles SE Sale Price 210,000 Gross Living Area 2,388 Total Rooms 8 Total Bedrooms 3 Totai Bathrooms 2.5 Location Suburban/lnf View Avg Site .28 Acres Quality Avg Age 34 Comparable 2 602 Somerset Dr. Prox. to Subject 0.44 miles NE Sale Price 193,400 Gross Living Area 1,800 Total Rooms 8 Total Bedrooms 3 Total Bathrooms 2.5 Location Suburban View Equal Site .21 Acres Quality Avg Age 28 Comparable 3 916 Gettysburg Pike Prox. to Subject 3.21 miles S Sale Price 215,000 Gross Living Area 2,778 Total Rooms 9 Total Bedrooms 4 Total Bathrooms 3 Location Suburbanllnf View Equal Site .48 Acres Quality Avg Age 46 Form PiCPIX.CR - 'WinTOTAL" appraisal software by a la mode, inc. -1-BOO-ALAMOOE [fil@.!t1QJ Location Map Borrower/Client Property Address City Lender NA 305 E Elmwood Ave Mechanicsbura Mid Penn Bank a l 'iJ. ~~.' ,~ .:l.. .'l>._ ~ -'-""to- ~\ \ 57 .. ~ ~.. ~. l <;;l \ ~ \... ~/: ....\:4!~.. ;'1iD. "-<Vi'., Jf~"'\ ., ~~S~~l y.""e~"., Jl' . . ',-",~'<,A1i;t~~.o<'- J.... ,.~,""'-- ""', . . 4-. "~B<t P<i',f-,.. --~ f7 t ' _.~ \. ""'\ - " "", ,.1/",:1), " ~ ./~~ ./,- ~~ _~___~~f!'(~ - 'lli~ t".' ~d .~~ ~: . \/ ,no Lane- Rd :r,,"f' "','\Q ~,' J ...1 ezOO6 MfcIOSOft.co'rp ~004NllmQ. ~l'ld/orGOT3~. ~<;$-~ "i!5. . E ~-'-___~ :l:! 'l-G. .... --'c-- .e '" . ";If---- ~ .-. ~.,. '\ ~ ~I ... tl: .iI 'l'I. (ill) '" I ~; '" ',L- i~Le HIQtl Park t J. " ~lt-\lD. ".6' .vt~ ;'''.'''-\1. .1!/l"'" Sptin% ~~\I. .~ m iJ!. I .StrOd('1lr ..~ ',' NllI1I~y _:, ,Bowmensdele ~d. . Emny ~' /--,\".. ~'~~'." '" ".~ " ............. " iti;~~$l.h \....:~- ,,:.~.., 'y Ra' M ./Or.nth."h ,/' College " ..,\ ~~.;"'" . k .......~..>............ . I' :/{.,,,( .,' :;i'1'G\ "<./ .....m._.!.';R.,;. " , >>.-'- J/. i <>. ~ t~' -l'Q" ,j: ~i '" ~"'.' Slddonsburg ~ t' ...,' <}~. <J> ~ I>. ,1.' . ROt- v.,~- .<. ~Tr.Q B i' )l~ ,~ :?' iJ'~.ltI\al1l~ ~ t!J //,,, \ .. : ,..." ~~ '''~ ~7 <fJ ~ iF - . s., m; I 0.. '" -- ,;;;t'" ~ _!9&~ , 'i" "4'." .~~ . <5. :# 12 l" ! .~ I' I ~ "" ~ ~ it V\ County Cumberland State PA ,"Co" '70'>4200 ~ 1 i, ;~- Mi........ ,MapPointi West Enol.!,i:', I o. <fill,llilil; Enol. Jl!ti",; g' ';11 [, "t.,:!!! . \4 \15; Moo.ro. Rd -." ...is \ "'- "" 'W[~~r1 Mount View 0, "' ." 3 ;;' ';]\ ~ 12 .3 Zi '.. '€ .;r b -'" -i.ij O'4~.i:. ( ~,14~. .1tiJ..>l't! "/"/ :fIl.......~4't>....~... ~..' ..t-'~u"'" .~, ~411!!<lr . ... ... 1-6 .........~ .~~..-- ..... \. . _.-...~-i ~. ~~. .1"<>: ~ /~'to.,.-%.p .~- .<; i~..'\ ~......... '." ~~.,= 1-. <;.."~.' '\\ll:". .Rd/-~ '~"" .. ,'.. '-,tl'l'P\I'IS\' 4,.,.~S'" .. ,'. .(. ".' Camp Hm '~ol.!1n,JlJflIl ~~_~-- _.co;:! ~- -~ " '. '. ~6~iteJ''I'l- -._c .,' ~wY' ,,' .1\ -~~:_-=-~",-j -,- ,,~--~t~~" l1';4" ~ I"'~ \Q ~ ,,~ ~'JrrLn / bltr1 .~ ~~'fI, ~,a' ~IJ..., ........n RIJ ....._-...... .. -'<. ~ ~ i ....~~\I. ~.. '" ~ "'Ill! s, ~ "'" <[ll~ 1.8 :] Form MAP.LOC - "WinTOTAL" appraisal software by a la mode, inc, -1-800-ALAMODE lPaQe #111 Intended Use File No. 6-0406 R-2 Borrower/Client Pronertv Address C~ ender NA 305 E Elmwood Ave Mechanicsbura Mid Penn Bank ,. C"" 1 "'55-4206 ~ Countv Cumberland State PA INTENDED USE The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for estate purposes. INTENDED USER The Intended user of this appraisal report is the lender/client. SCOPE OF WORK The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal fomn, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perfomn a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research and verify, and anaiyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. EXTENT OF APPRAISAL PROCESS 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 within the subject market area. The original source of the comparables is shown in the Data source section of the market grid, along with the source of confimnation, if available. The original source is presented first. The sources and data are considered reliable. When conflicting infomnation was provided, the source deemed most reliable has been used. Data believed to be unreliable was not included in the report, nor used as a basis for the valuation conclusion. SOURCE OF THE DEFINITION ON MARKET VALUE US PAP, 2005 Edition This definition is from reguiations published by federal regulatory agencies pursuant to Titie XI of the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) of 1989 between July 5, 1990 and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUNA), Federal Deposit Insurance Corporation (FDIC), The office of Thrift Supervision (OTS), and the Office of the Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994. and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. Form SUP - "WinTOTAL" appraisal software by a la mode, Inc. -1-800-ALAMODE ~;lJLmJ Rorrower/Cli.nt NA Pronertv Address 305 E Elmwood Ave ciiv Mechanicsbura Countv Cumberland State PA Zip Code 17055-4206 ender Mid Penn Bank Special Conditions Rie No 6-0406 R-2 SPECIAL CONDITIONS ADDENDUM The following checked items are specific special conditions that were identified by the appraiser during the inspection of the subject property, the incomparable sales, and their neighborhoods and locations. 1. The subject is located in a rural area and is less than 25% built-up. The condition is typical and common for the area and DOES NOT affect the market value. _X_ 2. Commercial uses are located within the subject's neighborhood. These uses are typical of similar neighborhoods and DO NOT affect the market value. _X_ 3. Industrial uses are located within the subject's neighborhood. The presence of industrial uses, is typical for the neighborhood and DOES NOT affect the market value. _X_ 4. Vacant and underdeveloped land uses are located within the subject's neighborhood. These uses are typical for the area and DO NOT affect the market value. 5. The predominant value in the neighborhood is less than that of the market value of the subject property. This condition is due to the superior qualities of the subject property as described in this report. This condition DOES NOT affect the market value. 6. The subject property is located in a F. I. A. Identified Flood Zone. 7. Dampness is noted in the basement of the subject. Standing or running water was not present on basement floor. _X_ 8. The subject is older than five(5) years old. All mechanical systems including the heating, electrical and plumbing system appears upon a visual exterior inspection to be in working order. No warranties are implied in this statement. 9. The electrical system was not connected during inspection. _ 10. The water service was not connected during inspection. _ 11. The heating system was shut down during inspection. _ 12. Well and septic are common to the area. _ 13. Repair items were noted in the comments section of the report. These comments on repair items are for descriptive purposes only and are not required repairs. The repair items are cosmetic in nature and DO NOT affect the market value. _ 14. Subject is new construction and was 90% completed on date of inspection. Compliance and completion inspections suggested prior to settlement. _X_ 15. Should property be sold, termite and radon certifications are suggested, with appraised value based on clear results. _ 16. The land value exceeds 30% of total value due to the high demand for vacant land in this neighborhood. This condition is considered common and typical for the neighborhood and DOES NOT affect the market value. _ 17. The land value exceeds 30% of total value. This is due to the large size of the site. this condition is considered to be typical and common and DOES NOT affect there market value. _ 18. Individual adjustments were required that exceed 10%. These adjustments were required due to the lack of more similar comparables on that individual rating. All three comparables are the BEST AVAILABLE. _ 19. Total adjustments exceed 15%. This is due to the lack of comparables on that individual rating. All three comparables are the BEST AVAILABLE. _ 20. One or more comparable sales are older than six(6) months old. Although there are comparable properties in the subject area, none have sold recently, therefore, sales in excess of six (6) months old had to be used. _X_ 21. One or more of the comparables used were in excess of one(1) mile from the subject property. Although there are comparables in the immediate area, none have sold recently. Therefore, it was necessary to use comparable sales outside of the immediate area. All comparables used are located in similar neighborhoods and within the same marketing area. All three comparables used were the BEST AVAILABLE. _ 22. Roofing certification is suggested. _ 23. Plumbing certification is suggested. _ 24. Electrical certification is suggested. _ 25. Heating certification is suggested. _ 26. Flood Hazard Insurance is suggested. _ 27. Seller is paying part or all of closing cost. This DOES NOT affect the market value. _X_ 28. All comparable sales are closed sales. _X_ 29. The subject property has not transferred in the past three years.. -P_ 30. This appraisal is a Summary Report with complete data retained In appraisal file. Form SUP - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE (Eige #131 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requis~e to a fair saie, the buyer and seller, each acting prudentiy, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specliied date and the passing of titie from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. . Adjustmenfs to the comparables must be made for speciai or creative financing or saies concessions. No adjustments are necessary for those costs which are normally paid by sellers as a resui! of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparabie property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible tor matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes ttlat the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch Is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Rood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specliic arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. Thm separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are Invalid Ii they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection at the SUbject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence ot hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, ilnd has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition at the property. The appraiser will not be responSible for any such conditions that do exist or for any engineering or testing that might be required to discover whether slJch conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmentai assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by o1her parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisai report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or ai!erations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specliled in the appraisal report can distribute the appraiSal report 0ncluding conclusions about the property value, the appraiser's identity and professional designations, and references to any professionai appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any departrrent, agency, or instrumentaiity of the United States or any state or the District of Coiumbla; except that the iender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's wrliten consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other mEidia. Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Form 1004B 1;-93 GEORGE CLAUSER Form ACR - "Win TOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE ~e#141 APPRAISER'S CERTIFICATION: The Appraisercertities and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those ~ems of significant variation. If a significant item in a comparable property is superior to, or more favorable than, the SUbject property, I have made a negative adjustment to reduce< the adjusted sales price of the comparable and, ij a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken Into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significanf information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and iimiting conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias witi, respect to the participants in the transaction. I did not base, e~her partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicin~ of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised vaiue of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimabl, the attainment of a specijic resu~, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific vaiuation, or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promuigated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, ~ the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborihood section of this report, unless I have otherwise stated in the reconciliation section. 8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report. I further certify that f have noted any apparent or known adverse conditions in the subject improvements, on the SUbject site, or on any s~e within the immediate vlcin~ of the SUbject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any Individual or individuals in the pertormance of the appraisal or the preparation of the appraisal report, I have named such indlvidual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individUal so named is qualified to perform the tasks. i have not authorized anyone to make a change to any ~em in the report; therefore, ij an unauthorized change is made to the appraisal report, I will tal(e no responslbil~ for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I dlrectiy supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibjJ~ for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 305 E Elmwood Ave, Mechanicsburg, PA 17055-4206 APPRAISER: SignatlJre: ~ 1. ~ Name: Dennis L Stover Date Signed: 4-17-06 State Certification #: PA State Certified Residential Real Estate Appraiser or State License #: Certification Number: RL 138906 State: PA Expiration Date of Certification or License: 613012007 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 Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 1004B 6-93 Form ACR - 'W1nTOTAL" appraisal software by a fa mode, inc. -1.800-ALAMODE Rle No. 6-0406 R-2 Borrower/r.nent Prooertv Address City ender NA 305 E Elmwood Ave Mechanicsbura Mid Penn Bank State P A Zio Code 17055-4206 Countv Cumberland ELECTRONIC SIGNATURE COMPLIANCE Wintotal and Project 2000 are fully ASB (Appraisal Standards Board) compliant in their security. The signatures on this report have not been altered in any way and the digital signatures are to be considered as original. Form SUP - "Win TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE CE:iQe #151 ~ [EaQp #161 Certificate Borrower/Client Prooertv Address ~. Lender NA 305 E Elmwood Ave MechanicsburQ Mid Penn Bank County Cumberland State P A Zip Code "'.HZ" ~ .~ Commonwealth of Pennsylvania 04 - 2 4 2691 D~P~ijD8ij&~State Bureau of Pr?~~J9lfiifiiiiil~itpational Affairs PO Bo~t649'Harrisbllrg PA 1-7.l\lS-2649 I~' ',,;,\ I '" -' . Certificate Type l ~. i s 1 Certificate Statm Certified Residential Appraiser \ c\'. .t } Active ~ "~ I \\,"':.~'\, ; 'I., 1 ' .{ '" <:~J~_,,:__~:;;;~\/( I nitial Certification Hate 11/2612003 DENNIS L STOVER 625 ADELIA ST MIDDLETOWN PA 17057 ~L.~ Comri1i~sioner of Professional and Occupational Affairs Certificate Number RL 138906 Expiration Date 06/30/2007 ~ / ~)f---- Slgnalure Jic:- Form MAP.PLAT - "WinTOTAL' appraisal software by a la mode. inc. -1-800-ALAMODE Date of Death: 10/19/2005 Valuation Date: 10/19/2005 Processing Date: 07/14/2006 Shares or Par Security Description 1) 2600 EBAY INC (278642103) COM NASDAQ - Industrial 10/19/2005 2) 59 PARADIGM HLDGS WYO (69901V106) COM NASDAQ - Industrial 10/19/2005 3 ) 13 SITI-SITES COM INC (847623303) COM Other OTC 10/19/2005 4) 6 SOUTHMARK CORP (844544882) PFD A CONV Other OTC 10/19/2005 5) 100 TOWLE MFG CO (892008202) PFD A $0.44 New York Stock Exchange 11/23/1987 Last price available on 11/23/1987 6) 6 IVAX CORP (465823102) COM American Stock Exchange 10/19/2005 Total Value: Total Accrual: Total: $107,290.68 Estate Valuation High/Ask 42.07000 3.00000 0.03000 0.05000 1.12500 27.67000 Page 1 Estate of: Estate of Raymond E Gregory Report Type: Date of Death Number of Securities: 6 File ID: gregory Low/Bid Mean and/or Div and Int Adjustments Accruals 40.21000 H/L 2.50000 A/B 0.03000 H/L 0.01000 A/B 1.00000 A/B 26.95000 H/L 41.140000 2.750000 0.030000 0.030000 1. 062500 27.310000 Security Value 106,964.00 162.25 0.39 0.18 N/A 163.86 $107,290.68 $0.00 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4) Jul 12 06 04:32p Claude C. WaITe ~ Assoc. (717) 737 0734 p.2 CLAUDE Ce WOLfE & ASSOCIATES AC"CTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP Hill, PA 17011 717-737-0734 June 9,2006 Estate of Raymond E. Gregory 305 Elmwood Avenue, Mechanicsburg, P A 17055 ENTRY Spinet piano Oak hall tree 125.00 175.00 LIVING ROOM Folding table Computer with Keyboard, monitor & printer - old Slant top secretary desk Realistic radio Metal shelving 3.00 50.00 125.00 1.00 2.00 Yellow tablets Small table Flashlight Pair of drop leaf end tables Window table 5.00 1.00 3.00 35.00 5.00 ( 4) Giant size nut crackers Scales of Justice 1950 Mercedes Benz 170S Cabriolet model 1955 Oldsmobile Super 88 model 1965 Chevrolet Corvette - Maisto-Marvel model 30.00 4.00 10.00 10.00 10.00 Corvette(unknown vintage) - Maisto-Marvel model 1907 Rolls Royce "The Silver Ghost" - Franklin Mint 1977 Corvette - Burago model 1997 CS Corvette - Burago model 1951 Ford F -1 pickup truck - Welly model 10.00 30.00 12.00 12.00 10.00 Jul 12 06 04:32p Claude C. WaiTe & Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 19/0 2009 LINCOLN STREET. CAMP Hill, PA 17011 717-737-0734 Gregory appraisal Page 2 of 14 LIVING ROOM ~ continued 1965 Pontiac GTO convertible(Hurst edition) - Maisto model Ford F-150 SVT pickup - Burago model Volkswagen(unmarked) model 1955 Mercedes Benz 1905L - Maisto model 1959 Cadillac, Series 62 - Danbury Mint model 1953 Buick Skylark - Danbury NUnt model Plymouth Prowler(unknown vintage) - Danbury Mint model 1967 Chevrolet Camaro(unknown manufacturer) 1967 Chevrolet Camara RS/SS 396 - Maisto model 1967 Chevrolet Camara Z28(unknown manufacturer) 1967 Chevrolet CheveIle SS-396 - Motor Max model 1969 Pontiac GTO "Judge" - Motor Max model 1964 ~ Ford Mustang Convertible - Motor Max model Chrysler "Howler"(unknown vintage - Motor Max model 1967 Chevrolet Chevelle SS-396 - Motor Max model 1971 Chevrolet Chevelle SS-454 - Maisto model 1969 Plymouth Barracuda 383(unknown manufacturer) 1957 Chevrolet Corvette - Burago model Dodge Viper RT-10(unknown vintage) - Burago Petri 35mm camera Rocking chair Floor lamp Daewoo "Sojin" black spinet piano (35) Silver plated Presidential spoons 10-Pieces sterling silver salt & peppers & candlesticks Buffet Sofa Coffee table (3) Oriental style rug runners Pioneer YSX-604S receiver p.3 5.00 5.00 5.00 10.00 30.00 25.00 30.00 10.00 10.00 10.00 5.00 5.00 5.00 5.00 5.00 10.00 5.00 5.00 7.00 30.00 45.00 8.00 125.00 20.00 100.00 60.00 10.00 20.00 30.00 30.00 Jul 12 06 04:33p Claude C. WolFe ~ Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP HIll, PA 17011 717-737-0734 Gregory appraisal Page 3 of 14 LIVING ROOM - continued Pioneer PD-DM802 compact disc player Pair of Paradigm UMonitor 7" speakers 2-Drawer Oriental style server 7-Drawer lingerie chest (4) Bird figurine music boxes by Gorham (2) Bird figurine containers Kodak Advantix F600 camera Marble base compote l\1isc. glassware Decorative brass cannon Misc. CD's (20) (2) Chess sets Cuckoo clock Desk lamp Misc. contents of living room DINING ROOM (2) China closets (1 with broken door) Old Kirby vacuum cleaner Noritake '"Rose Marie" partial svc/12 dinnerware Silver plated tea service Air conditioner Wallet with $169.00 in cash (9) Misc. knives 2005 Silver Eagle silver dollar Table and 3 chairs Mirror Liquor cabinet Desk lamp Server p.4 25.00 50.00 30.00 60.00 20.00 4.00 15.00 12.00 10.00 3,00 5.00 10,00 25.00 4.00 35,00 40.00 2.00 90.00 10.00 35,00 169.00 75.00 15,00 25,00 3.00 25.00 2.00 5.00 Jul 12 06 04:33p Claude C. WaITe & Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP HilL, PA 17011 717-737-073.4 Gregory appraisal Page 4 of 14 DINING ROOM - continued International svc/12 silver plated flatware Misc. contents of dining room KITCHEN Emerson microwave - old Craftsman tool box & misc. tools 1937 Studebaker Coupe Express pickup truck mode1(unknown manufacturer) Buck 119 knife & sheath (2) Winchester knives Scales Coca Cola dishes GE side by side refrigerator - old Framed display of knots Remote telephone Cookware Utensils Coffee pot Toaster Sony portable radio Misc. contents of kitchen FIRST FLOOR BATH Flashlight Sony portable radio p.5 60.00 35.00 2.00 2000 10.00 25.00 15.00 2.00 10.00 60.00 20.00 2.00 10.00 5.00 1.00 1.00 3.00 35.00 4.00 3.00 Jul 12 06 04: 33p Claude C. WolFe & Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP HILL, PA 17011 717-737-0734 Gregory appraisal Page 5 of 14 FAMILY ROOM Spooled table Desk lamp (2) Upholstered chairs Bulky legged table Sony TV Large vase Electric fan Weight bench & weights Sewing machine/table - old Kitchen table Sofa Wall mirror End table Small round table (3) Oriental style rugs Magnavox VCR Oak gun cabinet GUNS: W. V. Steiger "Thun" Ser.#25505 - poorly refinished Royal Thailand Mauser Ser.#5693 - poorly refinished 1926 Spanish Mauser Ser#2T 7664 - poorly refinished 1911 Schmidt Ser.#344145 - poorly refinished Winchester Model 9422 XTR w/Glenfield 4x15 scope Ser.#F51l7765 ( excellent) .22 cal. Marlin Model 782 Ser.#18735740 - (very good) .22 WI\.1R cal. Winchester Model 94 Ser.#2761223(1964/65) 30-30 cal- refinished Marlin Model 336CS Ser.#17053527 (good) 30-30 cal Daisy Powerline 881 Ser.#4D02180 BB gun AK-47 Rifle - MAK-90 Sporter Ser.#941 49911 -7.62x39mm cal ( excellent) p.6 40.00 5.00 4.00 15.00 40.00 10.00 2.00 10.00 20.00 5.00 5.00 15.00 12.00 1.00 25.00 12.00 125.00 100.00 125.00 75.00 150.00 250.00 75.00 125.00 175.00 20.00 350.00 Jul 12 06 04:33p Claude C. WolFe & Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP HILL, PA 17011 717-737-0734 Gregory appraisal Page 6 of 14 FAMll. Y ROOM - continued GUNS: continued Norinco SKS Sporter Ser.#93 11220 - Labanu Inc., Ronkonkoma, NY (excellent) MarlinModel336CS Ser.#17141942 (good) 30-30 cal Norinco SKS Sporter Ser.#1714017 -Labanu Inc., Ronkonkoma, NY (excellent) Thompson Auto-Ordinance(Kahr) "general" Ser.#TEM9826 (excellent) .45 ACP cal semi-automatic pistol Powerline Model 1200 BB pistol Mounted pheasant, buck deer & owl Mise, contents offamily room LOWER B.EDROOM Chair French provincial bedroom dresser, chest & nightstand Mirror Misc, costume jewelry Candleholders Entertainment center Globe Metal shelving Pelonis heater W, T. Annstrong 104 - 33 24138 flute Single bed Coffee table Misc. books Oak dresser Stand with wooden doll house p.7 350.00 175.00 350.00 200.00 5.00 20.00 50.00 4.00 10.00 2.00 5.00 3.00 25.00 2.00 1.00 4.00 35.00 5.00 2.00 10.00 135.00 30.00 Jul 12 OS 04:34p Claude C. WaITe ~ Assoc. (717) 737 0734 CLAUDE (. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET . CAMP HILL, PA 17011 717-737-0734 Gregory appraisal Page 7 of 14 LOWER BEDROOM - continued Desk Air conditioner Pair of Pioneer speakers (3) Bird motif music boxes Misc. brass and decorator items Electric fan Misc. contents of bedroom MASTER BEDROOM Bradford exchange Navy & 2 Bulldog USMC rings Desk light Approximately $7.00 in U.S. coin(change) Danbury Mint 193 5 Ford pickup truck model 5-Piece Bedroom suite - repaired bed Table lamp Oval rug & 2 small Oriental style rugs Alarm clock Pair of brass table lamps Quilt rack COINS: (6) 1976 Bicentennial silver proof 3 -piece set (5) 1981 Uncirculated sets (5)1982 Proof sets (4) 1982 George Washington silver half dollar 1984 Olympiad silver dollar 1984 Uncirculated set (3)1984 Proof sets (2) 1985 Proof sets p.8 10.00 35.00 30.00 6.00 20.00 3.00 35.00 25.00 3.00 7.00 25.00 275.00 2.00 40.00 1.00 5.00 5.00 48.00 40.00 25.00 32.00 7.00 5.00 15.00 10.00 Jul 12 06 04:3410 Claude C. WaITe ~ Assoc. (717) 737 0734 '-! .J. ~ 'l!D~ ~" ~.Il'O! Fe 1) ASSOCI A'lts ~'JI:",RU Ik ~F" !~, It), bo.' Q1t, . "" ,M' ~.. ,~JJCTfCNEE?5 ,}, ,".??RAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP HILL, PA 17011 717-737-0734 Gregory appraisal Page 8 of 14 COINS: - continued 1986 Prestige set(silver dollar & 5 coins) 1986 American Eagle silver dollar 1987 Proof set 1987 Prestige set(silver dollar & 5 coins) 1987 American Eagle silver dollar (2)1988 Susan R Anthony sets (2) 1988 Olympiad silver dollars (2) 1988 American Eagle silver dollar 1988 U S, Mint Proof set 1989 U, S, Mint Proof set 1989 Congressional silver set 1989 American Eagle silver dollar 1989 Uncirculated coin set (2) 1990 Eisenhower silver dollars (2) 1990 American Eagle silver dollars (2) 1991 Mount Rushmore sets(2 coins) 1991 US. Mint Proof set (4) 1991 American Eagle silver dollars (2)1991 uS.a. silver dollar (2) 1992 Silver Proof sets 1992 Columbus Quincentenary set(2 coins) 1992 White House silver dollar (2) 1992 American Eagle silver dollars 1993 Prestige set 1993 U. S. Mint Proof set 1993 American Eagle silver dollar 1993 Bill of Rights set(2 coins) 1993 250th Anniversary - Thomas Jefferson silver dollar 10.9 20.00 10.00 5.00 15.00 20.00 20.00 16.00 20.00 5.00 5.00 10.00 20.00 5.00 20.00 50.00 60.00 7.00 28.00 20.00 20.00 20.00 20.00 60.00 20.00 20.00 12.00 20.00 15.00 Jul 12 06 04:34p Claude C. WolFe ~ Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET · CAMP HILL, PA 17011 717 -737 -0734 Gregory appraisal Page 9 of 14 COINS: - continued 1994 Silver Proof set 1994 P.O. W. Proof silver dollar 1994 Vietnam silver dollar 1994 U. S. Capital silver dollar 1995 Civil War Commemorative silver dollar 1995 American Eagle silver dollar 1996 American Eagle silver dollar 1997 U. S. Mint Proof set 1998 American Eagle silver dollar 1998 Silver Premier set 1999 Dolley Madison silver dollar 1999 Yellowstone National Park silver dollar(2 coins) (2)2001 Indian/Buffalo coin (2)2002 Silver dollar Proof 2002 Silver Proof set 2003 American Eagle silver dollar (2)2003 First Flight silver dollar 2003 First Flight half dollar (3)2004 Thomas Edison Proof silver dollars (3)2004 Lewis & Clark Expedition silver dollars 2004 American Eagle silver dollar (2)2005 American Eagle silver dollar 2005 Marine silver dollar 2005 Proof set - Buffalo 2005 Proof set (22) Misc. knives in dresser drawer Misc. contents of bedroom p. 10 20.00 30.00 50.00 15.00 50.00 15.00 40.00 20.00 40.00 20.00 35.00 50.00 20.00 20.00 40.00 20.00 40.00 15.00 75.00 60.00 20.00 40.00 40.00 10.00 15.00 350.00 50.00 Jul 12 OS 04:34p Claude C. WolFe ~ Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 19/0 2009 LINCOLN STREET . CAMP Hill, PA 17011 717-737-0734 Gregory appraisal Page 10 of 14 FRONT END BEDROOM Huntley chest of drawers, dresser & night stand King size bed Grey dresser- old Green chair Portable radio Stand/table Trash cans Table lamp Pelonis heater :Misc. contents of bedroom SMALL BEDROOM Grey chest - old Single bed (2) 4-Drawer chests Lamp Trash can Ladder back chair - rough Collection of mini items :Misc. contents of bedroom HALL Linens LAUNDRY Card table Kenmore washer - old Maytag dryer Metal shelving Small welder p. 11 165.00 30.00 5.00 2.00 2.00 1.00 1.00 1.00 4.00 10.00 4.00 10.00 10.00 2.00 1.00 5.00 3.00 5.00 2.00 1.00 1.00 40.00 2.00 50.00 Jul 12 06 04:34p Claude C. WolFe ~ Assoc. (717J 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP HILL, PA 17011 717-737-0734 Gregory appraisal Page 11 of 14 LAUNDRY - continued Car jacks Collection of Matchbox & other cars - poor condition Mise, hand tools Mise, hardware Misc. contents oflaundry FAMILY ROOM-LOWER LEVEL Table Electric fan Hoyt compound bow & accessories Dehumidifier Armstrong saxophone Misc. toys Misc. tools (8) Nut crackers Loveseat - poor condition Misc. Christmas decorations Misc. Halloween decorations Upholstered chair - poor condition Misc. contents BAR ROOM Fold-a-bed Chair Electric roaster Misc. Lionel train cars etc. - newer style Bed frame p.12 4.00 25.00 100.00 10.00 50.00 3.00 2.00 65.00 15.00 55.00 50.00 50.00 25.00 1.00 10.00 2.00 1.00 50.00 1.00 2.00 2.00 50_00 1.00 Jul 12 06 04:35p Claude C. WolFe & Assoc. (717) 737 0734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE I910 2009 LINCOLN STREET . CAMP HILL, PA 17011 717-737-0734 Gregory appraisal Page 12 of 14 BAR ROOM - continued Chair (7) Pe10nis style heaters Yellow display cabinet 4-Drawer file cabinet Ertl truck Misc. contents of room GARAGE S pool table - painted Misc. oil & lubricants Brushes & brooms Superman & Buck Rogers lunch boxes - fair condition Craftsman router table McColloch chain saw Small air compressor Snapper lawn mower Dollies Lawn mower - no manufacturer (3) Aluminum extension ladders Wheel barrow Wagon Wooden step ladder Misc. garden tools CD player & CD's Craftsman circular saw Craftsman 3" belt sander Craftsman scroll/jig saw Craftsman drill p.13 1.00 28.00 20.00 10.00 5.00 35.00 30.00 100.00 5.00 25.00 30.00 45.00 35.00 65.00 20.00 20.00 75.00 5.00 10.00 5.00 10.00 10.00 15.00 20.00 30_ 00 5.00 Jul 12 06 04:35p Claude C. WolFe ~ Assoc. (717) 737 lJ734 CLAUDE C. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE /910 2009 LINCOLN STREET. CAMP HILL, PA 17011 717-737-0734 Gregory appraisal Page 13 of 14 GARAGE - continued (4) Toolboxes Desk lamp Misc. Coleman camping supplies Craftsman electric leaf blower (2) Black & Decker electric hedge trimmers Large car ramps Antique wall mirror Misc. contents of garage 1968 Camaro Rally Sport, 327 V-8, Automatic transmission, 84,678 miles Very good condition 1988 Isuzu pickup, 73,000 miles, manual transmission., poor condition GARAGE ATTIC (2) Seeders (10) Toy trucks Baby doll carriage Misc. tools & toolbox Log holder SHED Charcoal Lawn chairs Misc. garden tools Falls Products lawn mower Yard King 2-stage snow thrower John Deere 65 riding mower Craftsman 4hp, 20 gal. air compressor (2) Punching bags Clock Scales p.14 100.00 5.00 20.00 10.00 15,00 25.00 2000 50.00 11,000.00 375.00 5.00 100.00 2.00 20.00 1.00 10.00 2.00 10.00 30.00 175.00 100.00 50.00 8.00 1.00 1.00 Jul 12 06 04:35p Claude C. WolFe ~ Assoc. [717J 737 0734 CLAUDE (. WOLFE & ASSOCIATES AUCTIONEERS & APPRAISERS FAMILY OWNED SINCE 1910 2009 LINCOLN STREET. CAMP HILL, PA 17011 717-737-0734. Gregory appraisal Page 14 of 14 SHED - continued Garden hose Craftsman shop vac Cooler Misc. contents of shed p. 15 3.00 4.00 2.00 25.00 APPRAISAL TOTAL $ 21,910.00 This Fair Market Value appraisal is true and correct to the best of my ability as an auctioneer and appraiser with 35 years experience. Member: Certified Appraisers Guild of America , ~ i . .' \!-..... ".j G~~. (.~."V~ ~ \,... IL';\:i--.'." v....w. ~~\ W. K. Dusty Chapman, CAGA ESTATE OF RAYMOND E. GREGORY SSN: 265-64-7852 DOD: October 19. 2005 ATTACHMENT TO PA-1500, SCHEDULE Eo ITEM 6 The appraisal received from Claude C. Wolfe &Associates dated June 9, 2006 for the tangible personal property of the Estate totals $21,910. The highlighted items in the appraisal have been removed from the appraisal total for various reasons. Please refer to the following list for these items and reasons for removal: Items Reported Separately on Schedule E ofPA-1500 Wallet with $169.00 in cash Approximately $7.00 in U.S. coin 1968 Camaro Rally Sport 1988 Isuzu pickup $ 169.00 7.00 11,000.00 375.00 Items Belonging to John Gregory, son of decedent, being stored in decedent's residence Marlin Model 336CS Ser. #17053527 30-30 cal Norinco SKS Sporter Ser. # 93 11220 Huntley chest of drawers and night stand King size bed Hoyt compound bow and accessories Miscellaneous toys Miscellaneous tools Miscellaneous contents 175.00 350.00 165.00 30.00 65.00 50.00 50.00 50.00 Items Belonging to Jennifer Gregory, daughter of decedent, being stored in decedent's residence Daewoo "Sojin" black spinet piano 125.00 TOTAL VALUE, TANGIBLE PERSONAL PROPERTY $ 9.299.00 615399.1 SAVINGS ACCOUNT: Account Number/Suffix Date Account Established Principal Balance at Date of Death Accrued Interest to Date of Death Total Principal and Accrued Interest Name of Joint Owner CHECKING ACCOUNT: Account Number/Suffix Date Account Established Principal Balance at Date of Death Accrued Interest to Date of Death Total Principal and Accrued Interest Name of Joint Owner Estate of: RAYMOND E. GREGORY Date of Death: 10/19/2005 Social Security Number: 265-64-7852 fvl~ MEMBERS 1st FEDERAL CREDIT UNION 16031 -00 04/23/1974 $542.51 $.27 $542.78 None 16031 -11 04/18/1985 $2,558.76 $.35 $2,559.11 None 1). B,ERS 1JEDE';;"L CREDIT UNION ~~& ?7 a~ Denise A. Wolfe I Insurance Services Supervisor April 12, 2006 L)~ to .' ,q / () H- 5000 Louise Drive . P.o.Box40 . Mechanicsburg,Pennsylvania 17055 . (717) 697-1161 . www.members1st.org 6/9/2006 2:00 PAGE 002/002 Fax Server '" USAA~ 9800 F rederi cks burg Road San Antonio, Texas 78288 June 9, 2006 EST OF RAYMOND E GREGORY C/O JENNIFER GREGORY 1971 BRANDYWINE RD APT 205 WEST PALM BEACH FL 33409-6800 Contract Number: 00639183U2 Insured: John R. Gregory USAA Number: 007795584 Re: Mr. Raymond E. Gregory We are responding to your request for information regarding the contract with USAA Life Insurance Company referenced above. The information provided is the value at the time of the owners death, October 2005. Product: Flexible Premium Adjustable Life Amount of Coverage: $50,000 Contract Effective Date: September 13, 1985 Owner Name: Raymond E. Gregory Insured Name: John R. Gregory Last Monthly Deduction: $14 Payment Frequency: monthly Premium Amount: $14 Loan Balance: $0 Cash Value: $1,698.67 If you have any questions, please contact us at (800) 292-8556, extension 5-7897. For contract information, you can also visit us online at usaa.com. We value your business and look forward to continuing to serve your fmancial needs. Sincerely, g~~ Dani M Lara Member Relations Representative Life/ Annuity Member Relations ,A 6/9/2006 2:06 PAGE 002/002 Fax Server '" USAA~ 9800 F rederi cks burg Road San Antonio, Texas 78288 June 9, 2006 EST OF RAYMOND E GREGORY C/O JENNIFER GREGORY 1971 BRANDYWINE RD APT 205 WEST PALM BEACH FL 33409-6800 Contract Number: 00639183U3 Insured: Jennifer S. Gregory USAA Number: 008870432 Re: Mr. Raymond E. Gregory We are responding to your request for information regarding the contract with USAA Life Insurance Company referenced above. The information provided is the val'Ie at the time of the owners death, October 2005. Product: Flexible Premium Adjusta ble Life Amount of Coverage: $50,000 Contract Effective Date: August 28, 1985 Owner Name: Raymond E. Gregory Insured Name: Jennifer S. Gregory Last Monthly Deduction: $14 Payment Frequency: quarterly Premium Amount: $14 Loan Balance: $0 Cash Value: $1,845.53 If you have any questions, please contact us at (800) 292-8556, extension 5-7897. For contract information, you can also visit us online at usaa.com. We value your business and look forward to continuing to serve your fmancial needs. Sincerely, g~~ Dam M Lara Member Relations Representative Life/Annuity Member Relations Date of Death: 10/19/2005 Valuation Date: 10/19/2005 Processing Date: 07/14/2006 Shares or Par Security Description 1 ) 8300 NETELLER PLC LONDON (NTLRF) SHS Other aTe 10/19/2005 2) PURCHASEPRO COM (746144302; PROEQ) COM NEW Other OTC 10/19/2005 3) 7400 EBAY INC (278642103; EBAY) COM NASDAQ - Industrial 10/19/2005 4) 104.98 Cash (CASH) Total Value: Total Accrual: Total: $401,236.02 Estate Valuation High/Ask 11.75000 0.03500 42.07000 Page 1 Low/Bid 11.55000 H/L 0.03500 H/L 40.21000 H/L Report Type: Date of Death Number of Securities: 4 File ID: gregoryira Mean and/or Div and Int Adjustments Accruals 11.650000 0.035000 41.14,0000 Security Value 96,695.00 0.04 304,436.00 104.98 $401,236.02 $0.00 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300 or www.evpsys.com. (Revision 7.0.4)