HomeMy WebLinkAbout94-03239
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IN THI COURT or CONKON PLIAI or
OONIIRLAND COUNTY, PINNIYLVANIA
'4-323' CIVIL TIRK
P.O lANK, NATIONAL AIIOCIATION
.UCOI.80R BY .11011 TO THI rIRIT
.... AND TRUIT CO.PANY or
.IORAMIC.IUIG, PA,
va.
YIlt. II 1101. CONITIUCTION, INC.
Defendant
ANIWII
1. Admitted.
2. Admitted.
3. Admitted.
4. Admitted.
5. Admitted.
6. Admitted.
7. Admitted.
8. Denied.
The note attached as Exhibit "A" does not
specify actual attorney fees, but states reasonable attorney fees.
The sum of $109,517.79 is a flagrant penalty and inequitable when
compared to the reasonable amount of legal work necessitated to
protect Plaintiff's interests. "The purpose of a stipulation for
the payment of attorneys fees is to indemnify the creditor for its
expense of counsel fees in cOllecting the money."
Burllna's
Estate, 30 Montg. Co. Rep. 116.
"The amount of such fees is
sUbject to the equitable control of the court and may be reduced by
the court."
Jarvis v. Stoffal, 54 Super ct. 362 (1913) and
Commonwealth v. Pennsylvania Loan Core., 127 Super ct. 253, 193 A.
141 (1937). Plaintiff thus denies the total amount owed.
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007079.oonVAu.1IIl29, 1994/RWS/MWO/J7726
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PNC BANK, NATIONAL ASSOCIATION, I
SUCCESSOR BV MERGER TO nlE FIRST I
lANK AND TRUST COMPANV OF I
MECIIANICSBURG, PA., I
Plalnllrr I
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VENTZER BROS. CONSTRUCTION, INC, I
Derendllnl I
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IN TIlE COURT OJ!' COMMON PLEAS OF
CUMBfo:RLANU COUNTV, PENNSVLVANIA
9....3239
CIVil. TERM
STII'UI.A TION
AND NOW, this q'" day of I'. f I 'I' ~ " ,1994, It Is herehy ..Ipul.ted on behalf of the Defendant
that judllment be entered In favor of the Plaintiff and allalnslthe Defendant In the amounl of Blllht Hundred Thirty
Nine Thousand SI. Hundred Thirty SI. Dollars nnd Thirty SI. ($839,636,36) Cenls, IOllether with Intereat thereon at
lhe rale of 7.75" per annum from May 26, 1994, und CUSIS uf suit.
~JJ....
Crala A. lehl, Esquire
3464 Trlndle Ruad
Camp Hili, PA 17011
(717) 763-7613
AU(ll'lIey fur Defendanl
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" VI\)v'e
VALUATION OF PROPERTY UNDER DEFICIENCY JUDGMENT ACT
1. ~piencv Judgement Act 42 Pa.C.S.A. Sec. 8103
(c)(4) if an answer shall be filed and testimony
produced setting forth that the fair market value of the property
is more than the value stated in the petition, the court shall
determine and fix the fair market value of the property, which
Ihall in nc event exceed the amount of the debt, interest, costs,
taxes and municipal claims. . . .
2. Bstimatina Fair Market Value
Cheltenham Fed. savinas and Loan Assoc. v. Pocono Sky
Bntercrises. Inc., ___ Pa.Super. ___, 451 A.2d 744 (1982).
A. Fair market value is the price a purchaser, willing but
no obliged to buy, would pay an owner, willing but not obliged to
sell. ~ at ___, 451 A.2d at 748.
B. The Deficiency Judgment Statutes were enacted to
relieve the judgment debtor and are to be construed liberally in
his favor. Idi at , 451 A.2d at 749.
C. The lower court possesses the power and authority to
determine "fair market value" and the authority of the appellate
courts is limited on review. Id.
first Pennsylvanta Bank v. Peace Valley Lakeside Communitv and
Aaricultural Trust, Pa.Super. ___, 478 A.2d 42.
A. The scope of appellate review is limited to the
determination of whether there was sufficient evidencs to sustain
the holding of the hearing judge or whether the court committed
reversible error of law. ~ at ___, 478 A.2d at 43.
B. The trial court should note that the actual situation
is a purohaser obliged to buy, in order to protect the loan it
made, and an owner obliged to sell his property, in order to pay
his debt. Because of this the court must oonsider what the
judgment creditor can get out of the property in partial or
complete recapture of the loan and interest. ~ at ___, 478 A.2d
at 44.
C. Many elements properly enter into the determination of
"fair market value." Among these are recent sales of real estate
of comparable location and description . . . . other factors of
value include (1) the use to whioh the property is adapted and
might reasonably be applied (2) the demand for the property and
similar properties, taking into oonsideration eoonomic conditione
which depress market value in its true sense and detrimentally
influence suoh demand (3) the income produced by the property,
inoluding rents, and (4) generally, all elements which affect the
actual value of the property and therefore influenoe its fair
market value. ~ at , 478 A.2d at 45/ union Nat. Bank of
f}ttsburah v. Crump, 349 Pa. 339, 341, 37 A.2d 733, 735 (1944).
Hellon Bank v. Pa. Restaurant of A.B.E.. Inc., ___ Pa.Super. ___,
528 A.2d 654 (1987).
A. The weight to bo given to expert testimony on valuation
of land is for the trier of fact. ~ at ___, 528 A.2d at 655.
B. It is within the province of the trier of fact to weigh
the credibility of valuation witnesses testimony and to determine
.
the fair market value of the land. ~
c. The Superior Court must accept findings of the trial
court with respect to the credibility of witnssses. ~
Brvn Mawr Trust Co. v. lIealy, _ Pa.Super. _, 667 A.2d 719
(1995 ).
A. When reviswing a deficiency judgment proceeding, an
appellate court is limited to determining whether there is
sufficient evidence to sustain the holding of the trial court, or
whether the court committed a reversible error of law. ~ at
667 A.2d at 721.
-'
B. The trier of fact weighs the credibility of an expert
witness' testimony regarding valuation. ~ at _, 667 A.2d at
723.
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PNC BANK, NATIONAL ASSOCIATION
SUCCISSOR BY MERGIR TO THE FIRST
BANK AND TRUST COMPANY OF
MlCHANICSBURG, PA,
IN THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
NO. 94-3239 CIVIL TERM
Plaintiff
v.
YINTZER BROS. CONSTRUCTION, INC.,
Defendant
AFFIDAVIT BY COUNSEL AVERRING HIS ABSENCE
Craig A. Diehl, being duly sworn, deposes and saysr
1. That he is the attorney for Defendant in the above-entitled
action,
2. That the above-entitled action was assigned a trial date on
November 8, 1996 and then continued by the Court to December 18, 1996.
3, That Defendant and counsel were prepared to attend the
November 27, 1996 trial date but with the Court's continuance, counsel
for Defendant, previous to the time that the second trial date was
assigned, had scheduled another professional engagement out of
Cumberland County.
4. That affiant's client has not employed other counsel for the
reason that no other counsel is familiar with the facts of its case, and
for the further reason that the intervening time, being six (6) days,
was too short to enable any other attorney to familiarize himself
sufficiently with the case to properly try it,
5. That affiant requested a continuance informally by letter to
the Court and opposing counsel.
.
PNC BANK 7177302373 P.02
OEC-31-1996 11100 S C 1-
".,_.... ...._..........-......,..._...._~....._,,~, .-.
~ AGENT FOil SELLER g ~S~~INT FOISI:I.I.D I
..... ~;.,j ~N ~s.S \- ''''- --1
"", UCENSEP BROKEN I'A, LICENSED BROKER
TWS AGREEMENT, Ibi. day of _l'w-... A,D, 1'9J,..
I, PRINCIPALS: B'I"ftn~ -t'::>
..___ _Ne ~~
wllllnWIln.addrwuuf '1~'f:l... ~~S~ Pl~~ ~p \.4-\.l.........
PA Zip l'odr -""1....~ l ~ .I'hnn. M . hrrrlnll\cr wild Srller,
all4 '_\ M+N ~'j ~u. 'fIII"'i,~j,
..llh malUnl addrus of t..3 '.s- ~\I~ .i.Jl....~ .
W.lil\~~iu. thl.U. \lA Zip Cod. -11GJ:r~ I'buoc' 111.~DStl . hrtrloaher called Buy.r.
2, PROPERTY: SrUfr b.\-rLy agtrfS lu uU and coovry 10 Buyer, who b'l1!by II"'" 10 PUn:bUlI
ALL TIfAT CERTAIN 101 or ~Ifc. t~~U;d~lh ~~I~~~m.nl.t Ihmo~. .trcl~.lf aoy. ~OlO11 Ul
InIlM "TZ)wNg~~ of '\j:l,~~""N Cuunlyof"', >V\.Q.l.o:T2J ~
StallOf ~N J;.'; l-\JP<TV.A Zip Cod. \,()c-,"=-
lonlnIlClwlll.aUon: -r_............1&~Pn" ~~I"I'L
FailUR ur lhh 'Illeemenllo cnlllllin the zoning c1a.'1i1ication le"epl in easel whc/. III, property I Wld _h parcelthcl.ol. if lubdlvld,
able IlIlnned solely ur primarily 10 pennit .jnllle.family dwcllinl') shall render Ihls 'Ilreemenl vuldable It the option of the Buyel.
lIl1d. il voided, IUlY depl1.jll lendered by Ihe Buyer sh~1I be mumed 10 thc BUYet IIIllhoutlUly rrqulrement fOl coWl "'1100,
1lix 1'I''l'f1 No. 010 - \'ir !oW - dE. E" Oft'd BOllI. 1'1.. No.
J. TERMS:
(AI Purchas.Ptice 'Sv.. ~r;o,,", F.Fr\~ "n"W'l\,~~
10 be poJd to the Seller by me Buyer II followl:
I II Cub or check allignlns this agtccmcnt:
(2) CilSh or thee I. lu be paid an j, .......'., l J-An", I'\.:,e _...., ~
()I ~ aC:i"t~ ~(Ir.'I:;.
141
(51 Cuh or .enilied theek at time of lelllement:
U.S, DolllfJ
(B) Wrillcn app,oval of Seller to be on or befurc:
lel SeUlemeM to be mude on or befoJt:(""'-;'" In.. -.,....
101 Conveyane. fmm s.Il., "'Ill be by f"" limpl. d..d "f .peel&l "'llT1IIIly.
IB) Transfer IAIlel will be paid by ~u.... :l B"f &.~C!lP .. 5~
IF) The followins shall be appor1ioned pro.rw of and al time of IClllcment: lalld lIS levied and wusal, rentl. Ill1ereSI on mono
...se u.umprionl. walrr and ..wer "'nlS. lienable munidpal ,elVlce.. ond condominium fus. If any,
4, STATUS OF WATER AND SEWER: S.ller "'manls mal \hI! propeny I. served by;
~ public "'Iler 0 w.1l Wiler r)<Qublle lewcr 0 leplie Iysrem f]
~eIJ.r furth.r IIIlITanls thallhese IYllcm. ore fully paJd lor u of the dale 01 lhls Agtcemenl.
5. POSSESSION AND TENDER:
lA) Ponesslon is to be delivcmd by deed. kcys ond physical r,m<5.lon to B vaconl building (if ony) free of deb,b at day and lime of
,"'nlement. or by deed and alll~nmenl uf ujsting Ic....e(.) alllme of .elllemenllf parmi"l ilCC renanl occupied. unlfls olherwlsc
.pecified herein,
s
S
$
S
$ _ 5"1lS"-J OO~
~R~ ~'m'.
~'''''''''Q'l!!..
If lenalll occupied. Buye, wl/l.'knuwledge lhe ed'ling lea.,e(s) by initialing II (lbem) allhe lime of aigninllhls Alfumenl of Sale
and by llUll:hlng il ememl heRlo,
eBI Seller will nol modify or eatend Wly ui.tinllle...... or cruel Inlo Wly new or additiunalleasel for th. prerol... wiLbuulth. uprell
wriltJ:n consenl of the Buyer.
ee) Fonnallend.. of an uecUled deed and purchase money Is hereby waived,
(0) Buyer ",se",elme nllhllo mal. " pre.selllem.nt Inspeclion uf the subject property,
6. ITEMS OF PERSONALTV: The following Items are Included in lhl. sale llnd purthase rrice:
Pl.AINIWn
EHrr
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S.Uer hel.by Wll/TllOl.l 11/81 hellh. will d.U~el gnod tille 10 all Dr the lIliclel described in thil raragraph lIl1d any odler 1l.1w.. or Iteml
of pel1lonalry speclflcally jchcduled and 10 be included In this .a1e.
7. SPECIAL CLAUSES:
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..d 11lII~.lahle IlId ,u,h L' WIll 10: 1",W1bI. by II.pUllbl' 1111. In..,.",. ~I/I1lJll!lY 1I ~ "'tl1Ilu /1IleI. '..
IBI In Ihc ,-.1lI !he S.lIer i. u..!lIe ..~.'alllod one! Ihw\.labl. &iO.l/nd .itio ...wtll,II__W........1kl. In,.llJI(, Company. 8U)Itr ~olI.ilht,
..... m" lid... the 5.11., <Ill si.. ...lIhnuI,bol'lIl.nl nr prk. 111 bo repaid 0II111Dnl" 0\118.)<11 hu pold ID Scllo, UD _I al the pun:haio pnu Inclu.!,
In. "lrnllllW",.nl far Iht lI.m. lpa:ifinJ in f'I/llS'il'''' IOIC) i,.",.\ II), m.lll, lII1d 11l([)). III the 11M mal ncllh<r PII1Y ",.11 hi.. funllir U.blllty nr
ubli'atJUIl, IlId thl. "lIc,""nl ''''11 h>:an.. VOLD ..d ,all ,.p.iI. ....U be t\II\ll1Iod 'u S~II..,. "'<Ill r... cll/llZllIlian,
Ie) 1lI.1I11)cr:w\ll""r..thefoll.wlII" . . \ ..' .)r ,. :", '___. ..."
III Th< Pl.ml.m ra, n"eh.nk. Ii'n InlU'.,,... andIo, UII< '4l1<h, 0' f.........'IlI,.U.lIl11l.r WIl~:
(2) 'Ilw f"nUUtnl fur lllU! iniuranu~ llnd/Of f\~ nl\Ullncc: will! ..'tended C'owtnfr, UlSlDVk1: lllttdn- dWJta or tlnnlllhnn r~;
(l) Appn&!saJ rift IlkS .:h.aJv" pajd in ad~anl'e lu 'Tlunlt"4tt Icmkr.
. . '(41 8u)<(l iIDnl'or~.",.nl ,"'11 Ind ",,,,.1.
(D) An) ,u",.X .r '"""y" I"l.in:d by Iht nil, In....'''.. C"mplllY '" !he .1""""ln, "'0111<) flll d.. pnpu1lliun ur III odajUII. Icpl d.:YUipllan .r lhe
JnIIII... I1Ilhe _llDlIthe...r, .ball bo aoclJlOd aad poi.! ro, by the S.IIer. Any IU""t or 'U/\'cy' dc.1ttd by Ihe B.)II a, lal1IlI'od b) hillller man....
I...." slWl be 1CaIn:d .nd poId till by 0.. Dpyor. , '
II, nlI'OllT.'4ND IlECI1VUY f11ND1'~il',...;..;n... nlth. f,,",,'.f p')m~n.....ipluod II pay.., abaJI boo r-ld r.....tD1 f<wlhc Sell..
who aWl rellin lhem I~",'_icto.nc DIIdl ..nlllllllNllnn at \lnllfn~lIaa oflllll . III~ty.-t1h 011.,.,11....10 1I...IIIlIilNlodam, Alibi
rur d.. Sell.. "'Y, II hlJ 0' .." tnl. .,...., hold Ill, ......Iool ,....~ ..Dolo,,", II ~ ;Z.... _..r ~...., Ill.... _ .l1ili.......1Ol1hc
"llim u( ok....1I ""'.i..,A,.n' r.. II. hU.. y:lIJ dlslri\.lI. 1M n.',w.. ,-UIllI k. OJ .w.wt hi: 1ho.wr1l1l;n ",,"Dltlll of" panlu. I.,.....U..
.- thuL In lhe ncnllht A..hl andtbt l\ibla.n, ........ j,ndd In hllguSon ra, or..'ml1.III 1nt1c*tles. Iht A,.II1', "",^" S.".OI'. 'UOI1II:)' I'ar:s IIld
-II ";11 be paid tI)' tJw fliIIY j.W". the A.en, ... ......cnL .
A kaal EI.... kILO"/}' P.nd ul'" 10 nilnllltw M) ......... ..ho h." obllinod. ftnal.,vU 1udIIuaI1 opIn<l. I'tll/JlylvlAla rwaI....1I u.:- ....... I. bud,
..i...",....lall.n, or d"""l'" ....1...." o.....do. .nd ""'. h.. I...n .lIabl. III <all&l" I.d....nlllllOt ealwlIliD. 011 ~ one! ~......' ,fat
'omple... dellil. o!c,u,1ho fund, calII1l1l1l),16~', ' fl
u, MAWRNANO: AND IU5K Qf LOSS, .): '. .'
rA) S.II.. ,hall ""Intaln Iho plOpi'll)'. lInd .nr 1""''',.) P'''IE''l' 'I"",",d h"I<In. III I.. pn.wal cOndldll/L IlDlIIIII "'... aad .... ec<q1lD1 -
tOI Sellct ahoJl """"ply noli"'lhc Bu)., If,lI <lilY II"", pno, IU the Ii"" of ",uJem'''L all '" Ill) !"mian ur Ihe ~ Is.~ dulnJyod, ll/ damaaod
.. 01 fU.uU of any rau.c whauarnr. I ~
,el SeIl.'.....1 btu ria..r Iou rlD/ll rue u, .MiI.. nu..... unlll ""...1 ..niCOlle'''' In II.. ev.", dill dIlnili.1D III) proptll)' IDclLIlIod ID Ihia....... "'" I.p.hnl
., repl.ctd pnorln acnl.m.nL Burer .haU hlv, lhe aplJan .r ..." ,nd.n>> tII" AI...""nl .ad "".I..n. .11 nlDfllu paid """'l1Ilbl ur.l "''Illin.1ht Pf1lII.
'11)' In III"n condln.n I".u... wllh the pn~.<llI nf ,") In,u..." rw.a-ny oblaJ... by S,U<\'. Buyer I. hereby IIDllficd that helaholl1l)' Imw. h1a1hr,
"luII,bl.ln"'.'lln lhIt p,.,,,,ny II ur th. umollw A,IC..lInl """'r."d.
u, htf"UlT.11ME or1ltE ESSENCE, nor 0"" I.. ..."f.melll."d.1I 0' n, UIll.. ..,.m'd 10 In' U.. prl1",m...nu ar llI1Y nl tII, ubhll"ll"'" ulll... A",..menl
iIIf "'~Ll' lpeed '010: ar lhe n..n", Should the lIurer.
I AI fail \D mab illY .ddln..uol p.ymcllU .. ~clft.d In por....ph ). "'
IBI Funm.h f3J~ fir 1r":anlrlcl~ Infflnnitlll1n lu the St.lItl. lht Sc:1lt'1'1i AlienI. ur Lht munAMKc kndcr wI\u'nih' th. Dl.I~tl"'I.al or DAux:iaJ lo&alUJ. uf ra.illu
l."lWlp:nllc In \tUI pt\k:t)ainj ur lht: nlOO(llgc I~~" arplklllllu. ",ltll.:h Actl \l'U\lld nault In lhr faUWlt 10 obLtin lilt IpptUwal or it fnl""..a loan cummlunc:nl; ~
1('\ VI"I..... or II;! 'n rulAII.1Id ""fom,.ny ""'.. linn. '" ,ondili.n..r th.. AIl"lCmmL then III ,.d, eLYe, ,II dCJ'lrilmunl.. and ud.".ma pllld by lhe Bu).,
an "",uunl .,, tho p."h.... pM". wh.lh.. 'ctjulled by Ihl. A,.,celn.1lI or n.I, mar be "talned by lb. Sell." (Il OIl.......".' \he .....huc. D/ (I) AI
Ill""'" In I.. ..ppll'd I" the S.II,,.. d"""~,,. ," 1)1 A. 1i~lIiJ.ltd demo." rUl ,,,,,h "'....h IAlh, Selic, 11II) .Iccl. In lb. ."allbll the S,II. el"'llIlu
"'Wm the "10""" U. Iiq"'L'.1l tiom'KII, tho S.II.. .hall '" "'1....11 !tom alll,"",lili.. or <>hL~aoon. IlId thl\ "''''''''''10' .".11 be VOID and all '''I'ln lUlU
hit I\:lumnJ Illmt StIlCI'~ ^ytfU Ill! tllKC'llal1rJll
I~. "GENTIS), It II "p'",ly uIIII<l\'oooJ Wld.1Il'OI'd bol....n IhcJ'i\I1J" ,hut ill. muned A,'m, 8noh,. Old "'y Subl'''"!. III"" ond lhrir ,"1..""",Ie. empl.),
m \1mtCn 4n41IJr pW1l\fr\. .lit Agtlllh" Illr Ille !'idlrr Ullllhc uyer. huVtt\n, Iflr A,rrtlu)..rpay 'Il/J1unll ,..n'in's ror lhll nuvrr in nHulrtLiul1 ik1lh finiUkinu.
UIUU1Ihu' .,.1 dt. unll1nl prwp.1l1ll!l)O, ~~ \~: _ l-
II. a[COIWINO, llu. A.....'''''I .1..11 "",I.. ""'Idoul '" tho 01f1,. .r tho k.."rdcr ullJr.nJ. D/ In ilIIY nth" olli<< '" pi... "1l'uLlle ,,,,ont. II bu)., nu...
LJr Pl!nnll. lhi. ^1I1I~clhCn' to hi! t1.l'l1rd1ld, Still" nll.l} tlb. I lu btut 'lidllL I IJ . hlt'ach or Ihl\ Agn:l:fnrnl.
16, A5510MlffNll 1hlo A"",,"o,.I.alll.. b'''dl''f "",'n ".. p"'I",Ih.U n"rel.'1Jv. h,In, pr"""oJ I1'pmtnilltivn, Cuanlia.. 11II1""...,.,...... ...~ II) d.. .."nl
lUollln.ahle, on dlr 1.-"""1 Ilf tht p.tnlu hen'to, II t f!lfM'Mly undm.ll...t hnwn~, ilia' Ita- Buy" ,h. II ... tnncfl1 ur ,"I,n dUl Apwmnl Mthnul \hi ...rit-
ltll t-'VlIJ.tIII Qr ... S.U",
17. IlfrlWiEN1AnON8,
fAI III tl1k:unl WIU thu ^IJ"~ mt!f1I. Itu~tr ~ bllll..i,,!J 1l1'11l ully Irpn.:lotllLlhulI.., l-.jlll.. ldvC'ri"llla. nmnlillfll,lll.'ll\'ltJn, bft.-;hura or.,plw ur any Lind
1II.Idt'~ScJlcoA..n'I"'d..I"ruplD)'"",ul'&"'''P""IyI''''IIj''''I1.dD/'_dlllU..A . ..'. ., _, '. . ',. '. Q
18) Ill. ~""...t/." 'hollin,,, hu IIlIfWIId ilw pnlp,,!), nl II''''y "aJ_'" 'Icht.. ................ Ia p....h ~.......I ,,"~!f.~""
IIIIY" orkna..I<d.,~ Ih.II'" A..n.. h". IIul nl.d. allla~'''''lId,nl nlllDlnaUon., d"'"111I11d.. nr u.. .bud.,,1 ...""d..... ollh. property. tII.
a.. IIr n,udltl.. Dr Ib, ''''''I.....nlt. ...il.."n"11I1 '."oijUlIlIi. 0.. pol1llln.al_ nr IIll11ndl,dlllll....'1Da Ia tho I.....J. IIh,"... "",pol1y b 1\"
Ulh..t; 'UI' lun. UII)' InMde I mfthanh:.,'lllJpn Ilollur fIl"t fir till 1}ilrnU ('untaln"" tllerwm. '\
III 1111 ''Untlllt UllJ"\II.,J dlall~l, 'il'rclllrl11 I,(,III.IIUI. OW ",tUlle clf,I11 fill nt ~'..r'n SrlJl!l And bU)l'1 &Jill iliffI' lie /In nlllel h:mu. ,!bllellloni, lOIl'Mnu,
1t",JlCullt.llnIH. '1..ltll\tll!~ III 11'1~,IHIII~ I r'II!.., dhrr....'tl' 111 ,ll'~ . hul wfIUIM.-\flf I tlnLIITlIh1l1h15 s~lt' n:u 'ftnurt. lIuI .~...nr.m ~nf1C tc ;Ulclt1J.
"Iry. ie'S ~;~:~,:~~~J III "11~lt.aJ (.:rt III ';.lllll1W I'rll/l, d 10, Iht IJi4I1IV\:)Q- ( fl'
I\ITNm\.U:'\Q..:-~" c.\tJtx;.:.-~ bUltll':::- ___ n__,__ ___ _ .,__.-___
1\ 1 fNtn , _ . Bl~'tk _ _ ~ _ ~_h ,,_ _ _ ._'___
VlIL.UN1o\II\' U"NSFI,IIl/1 1'lllll'OllAn ASSI<'U, Ib, UlOlII""f"'" ....Il,,~I'"~.. 11\41 hrJ,I.. " ""I.."rol Ly .~, IIQ II~' lJitc"." lu 11~1I ,hll
'1Ul.l'OIrnl tin tll'h,ilJ II' lilt Srllll \dtpH;llIlIn .m,J Ih,II lId. \,11. ;!un 1lllllufhloltllll' tl ,..,11', luu. nl f',fI.-n,. lit illl ur ,-"h"lOlnll.Jty lh 'he pmp.'r1) .,ul.\\t:h n' thi::
~tlfl"..w"'h~t \mlla,' ,YoullhJ ,1f''{UI't' \ttlillllltllflll~IUH'\ III ~(\lhtllllllllli .,tl,lltlll.IJr,... Jilll'UillI:10 1'1' S ,'\r(lIun I U I """' '
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NOTE
US $720,000.00
May 2, 1989
Mechaniclburg, PA
FOR VALUE RECEIVED and intending to be legally bound
hlreby the underligned, YENTZER BROS. CONSTRUCTION, INC., a
pennly{vania bUlinel1 corporation (hereinafter called "Borrower")
promiltl to pay to THE FIRST BANK AND TRUST COMPANY OF
MECHANICSBURO, PA., (hereinafter called 'Bank"), or order, tht
principal lum of Seven Hundred Twenty Thousand and No/lOO
($720,000.00) Dollarl in nine (9) monthl from the date hereof,
together with interelt on the unpaid principal balance (and on
all luml advanctd on laid principal sum pursuant to a
Conltruction Loan AgreemenL of even date herewith, the term. of
Which are incorporat.d hertin by r.ference thereto) from the
date I of advancement of allium. al aforesaid, until paid, at
the rste p.r annum computed as followSI the Prime Rate of
interelt ptr annum eltablilhed and delignated from time to time
and al often al publilhed by Provident National Bank,
Philldelphia, PA, lor itl luccelsor), plus one per centum (l')
per annum (said interslt to be computed and recomputed on the
unpaid balance of principal as of and at tach time said Prime
Rate il eltablished (and re-established) and published (and
republished) but in no evsnt shall said total interelt rate be
Ie. I than nine per centum (9\' per annum or greater than
fourteen per centum 114\) p.r annum.
Principal and interelt Ihall be payable at any of Bankls
branch offic.l, or at .uch other placel al the Note holder may
designate, on the following termll (a) interest only to be paid
monthly al of the 2nd day of each calendar month on all .uml
advanced hereunder purlulnt to the Conltruction Loan Agreement
mentioned above for a period not to exceed nine (9) month. from
the date heraofl and (b) the principal sum (and all intere.t
there accrued) Ihall be due and payable in full on February 2,
1990.
If any monthly inltallment under this Note is not paid
when due and remainl unpaid after a date specified by a notice
to Borrower, the entire principal amount outstanding and accrued
interest therlon Ihall at once become due and payable at the
option of the Note holder, The date Ipecified shall not be less
than thirty (30) days from the date such notice is mailed. The
Notl holder may Ixerclle thil option to accelerate during any
default by Borrower rlgardlesl of any prior forbearance. If
suit il brought to collect thil Note, the Note holder shall be
entitled to coilect all reasonable costs and expenses of suit,
including, t~t not limited to, reasonable attorney'. fees,
IXlll1111' "^"
~
,
,
....' .. t..
. ~
Borrowar .hall pay to the Note holder a late charge of five
percent (5\1 of any monthly installment not received by the Note
holder within fifteen (15) days after the installment is due.
Borrower may prepay the principal amount outstanding in
whole or in part. The Note holder may require that any partial
prepayments Ii) be made on the date monthly installments are due
and (ii) be in the amount of that part of one or more monthly
installments which would be applicable to principal. Any
partial prepayment shall be applied against the principal amount
outstanding and shall not postpone the due date of any SUbsequent
monthly installments or change the amount of such installments
unless the Note holder shall otherwise agree in writing.
Presentment, notice of dishonor, and protest are hereby
waived by all makers, sureties, guarantors and endorsers
hereof. This Note shall be the joint and several Obligation of
all makerl, sureties, gusrantors and endorsers, and shall be
binding upon them and their IUccessors and assigns.
Any notice to Borrower provided for in this Note shall be
given by mailing such notice by certified mail addressed to
Borrower's Mailing Address stated below, or to such other addresl
as Borrower may designate by notice to the Note holder. Any notice
to the Note holder shall be given by mailing such notice by
certified mail, return receipt requested, to the Note holder at
the address stated in the first paragraph of this Note or at such
other address as may have been designated by notice to BorrOWer.
The Indebtedness evidenced by this Note is secured by a
Mortgage, dated May 2, 1989, and reference is made to the
Mortgage for rights as to acceleration of the indebtedness
evidenced by this Note.
IN WITNESS WHEREOF, Borrower has caused this Note to be
executed by its duly authorized officers this 2nd day of May,
1989.
YENTZER BROS. CONSTRUCTION, INC.
ATTEST:
By
"
Borrower's Mailing Addressl
6402 Carlisle Pike
Mechanicsburg, PA 17055
-2-
.
.. '.
PRAECIPE FOR WRIT OF EXECUTION - (MONEY JUDGMENTS)
P.R,C.P, 3101 10 3149 Ele,
IN THI COURTO' COMMON 'LI...S 0'
CUM.tJU....ND COUNTY, ,tNNSYLV...NI...
PNC BANK, NATIOOAL ASSOCIATIOO
....... ..... .....................................
SUCCESSOR BY MERGER TO ntE
fIRST BANK AND TRUST o:MPANY
or.~..l'^...............
... ' . Pl!lintiff
YENrZER BROS, CU'lSTRUCflOO
......................................J.....
INC.
....... ....... .... ...... ..... .~ritlJdl,jltt J
Wril 1'1.. ............................ T.nn, It......
'1 " -. ~, l' t
No. ..... ..L.......;~...t............. Tlrtn. I ......
......unl duo ............ I ~.H.~fAtd.R.....
Inl""1 Iro.. ................1?'.~~~:.?l.....
...,,',', Com. ...................................
CcUIl..................... .............................
T. Ih. 'rolhon.llry 01 ,lid C.url' IssUt WRIT 0' txtClfTlON 11'1 TilE ...nOVE MAlnR.
(II DI".ud '0 ,h. Sh.rill 0' ..~~R\NjIL......COunl', P.nn'.l
(21 .,unll ...YP.'I:~~!:~..~~:..~~.~~.~9:!9'!I..!!'!~.'... ............ ...,. ....... ..............
........ ....... . ............... ................ ..... .......... ....,......... D.Ie"..nl (,) ;
(I) ud .,.Inll ...........,............................................................ C.,nl,h.. (II;
(4) .nd Indu Ihil wril Vl:'I\J't' Eft "1lr"lC: I'Y')/,"::"'''''''''T
('1 .plNI ........ttllh. .t'..~y.'t:..~~.'>!WX"Mml.J~.,................. ........ .....
............... ......... ........ ........... ............ ........... DeI.nd'lII (I) .nd
(b) ',UUlI ................................'.........................,........................
_............ ................. ................. .......... ............. C.mllh.. (.1,
"' U. pond'N.,.lnlllh. reu propmyol Ih. d.l..d.nl (.lln Ih. n.m. 01 Ih. O"";,h,, (I).. 'nllow.. (5pcc;nully
duon.. propony)
"Levy uron and sell !Ill th!lt cert/lin tract of re!ll estate situ!lte in the
Township of Him:xlen, Cunberland County, Pennsylvania owned by the .
Defendant, Yentzer Bros, Construction, Inc., !IS more fully described in
Exhibit "A", attahced hereto and made a part hereof by reference."
(I) t","pllo~ hlll"ol) bllft ...I..d,
Oll.d ..J.!!i.'i.{fI../........
~z?-;; /J;.., J/:;-..
. r~_i' #- t:;7(~' t
. .... ........................................
^"om.y 'n, rlaln,lt/hl
NOTE
Vndu plllWPh III "h..lh. ",,, II dlml.d '.Ih. ,h..IIl,'.n.U... counl,.. .uY,..I"d b, nul.IID2lbl
the nunl, &houl. " l.Ildlul.d. I
Vnd.. llul. 1102(.1 . ..,III.",.d .n . ,"n.lm04 lu dllm.nl 01', be dl".I.d .nl, I. th. .hrri" ollh. counl,
I. whl.h Inu.d.
PlIl,rtph III .bOY. ,h.uld bt compl~.d onl, II . . ....d ,..nllh.. I, 14 bt In.lud.d In Ih. "'II.
Pln,nph (41 hl.hould tI. romplltld or.I)'1f Indllln, of "hi t.ecutlon In the nunl)' of IlIulnn, II dUI," "
luthorhul ",1\1,11. Sl0411). Wh,n 'he ""rll 111,1" lo In Olh" nunlr 1".uln,11 IIq"u"d It 01 ",ur.. In \hi'
CDW>ly b, th. prolh.n.'uy. an nul. IIDllb!.
PU"'''J1h IU (\11 .hnu14 b. 'jml""t,rt onl, It u.1 r,,.,,,rth I,. Ih" MI~r 0" CHopI!,re II '!l.\hr.l.nd IUlIe.,
In.... It, 1"l'Idrru lJ dellfl'eI lu lul, II04UI
.
'.
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-- "-:,,,~',.... ',".''P',,-."
OCI 10 II 2~ AH 195
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00707~.oo"1I0clober 17, 1~~'IllWlIDCWI47m
Commonwealth of Pennsylvania
Department of Lahor &. Industry
Pantano &. Son
Wilson Pavlnll. Inc.
Capitol Iron &.. Steel Co.. Inc,
Groft'Tractor &. Equipment, Inc,
Drlvekore, Inc.
Power Tool Service Construction
Equipment Rentals
C.E.R. Rentals
Pro.Cut
A.I Pipe Inc.
Rental Tools & Equipment, Inc.
Citizens &. Southern Commercial
Corp.
Internal Revenue Service
American Aluminum &. Insulation
Inc.
.
Bureau of Employer Tax OperatloRl
P.O. Box 3900
Harrlshurll, PA 17105
423 Corhln Road
York, PA
480 West Old York Road
Carlisle, PA 17013
P,O. Box 5201
Harrlshurll, PA 17110
P.O. Box 1037
Mechanlcshurg. P A 17055
36 W. Allen Street
Mechanlcshurg. P A 17055
34 W. Allen Street
Mechanlcshurll. P A 17055
5 E. Allen Street
Mechanlcshurg. P A 17055
15 E. Allen Street
Mechanlcshurg. P A 17055
P.O, Box 398
Bridgeport, New Jersey 08014
4900 Upghur Street
Bladenshurg. MD 20710
P.O. Box 4095
Atlanta. OA 30302-4095
Aun: Chief. Special Procedures Staft'
District Director
Box 12051600 Arch Street
Philadelphia, PA 19106
P.O. Box 649
Middletown, PA 17057
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007U79-OO.lU/Ocleber 20, 19U/RWSIDCW/475U
EXlIIPIT "A"
AtL 11IAT CERTAIN piece or parcel of land sllualed In the Township of Hampden, County of Cumberland
IIn.! COl1lmonweahh of Penruylvanla, more particularly hounded and described 11$ follows:
BEGINNING at . point on the western side of L)'nndale Court at the dlvldlnallne between Lou No.1 and
~ liS sllOwn on the hereinafter menlloned plan of IOIS; Ihence along said dlvldlnallne belween Lou NOI. I and 2. South
7~ degrees 45 minutes West, a distance of 380.49 feel to a point al lands now or formerly of David J. Malamey;
thence alonauld lalter lands. North 9 dearees 39 minutes 8 seconds Easl, a dlslance of 231.53 feet to a point on the
~('ulhern dedicated rlaht of way line of Basehore Road as shown on the hereinafter mentioned plan of loll; thence a10na
~lIld soulhern dedlcaled right of way line of Basehore Road, North 74 degreel 45 mlnules East, a distance of 223 feet
III a point on the &ame at the bealnnlna of a curve formlna the southwest corner of the Inlersecllon of laid Basehore
Road and L)'nndale Court; thence alona a curve to tile right having a radius of 60 feel, an arc dlslance of 94.25 feet
III a poinl on lhe western side of Lynndale Court; thence along said weslern side of Lynndale Court. South IS dearees
15 minutes Easl, a distance of 150 feet to a polnl on the same al tile dividing line belween LOll Nos. I and 2 11$ shown
on Ihe hereinafter menlloned plan of lOll, the place of BEGINNING,
BEING Lot No. 111$ shown on thai certain plan of 10ls entitled "Preliminary Final Subdivision Plan, LYMdale
Industrial Park' u recorded In the Office of the Recorder of Deeds In and for Cumberland County, Pennsylvania. In
Plan Book 55, Paae 139,
IIA VING erected thereon a one story Industrial hulldlna known as 6375 Buehore Road,
BEING tile same premises which Robert 0, Venlm and W, Wayde Kelly. by their deed dated April 21. 1989.
and recorded on May 3, 1989 In the Office of the Recorder of Deeds for Cumberland County, In Deed Book 33.X,
Page 876, aranled and conveyed unto Venl1er Dros. Conllrucllon, Inc,
TAX MAP PARCEL NO. 1O-20-1838-2s.E
SEIZED, taken In execution and to be sold u the property of Venuer Dros. Construction, Inc., Judament
uehtors and real ownera,
(I01019.00~8~IO,'lllbcr 23, tee"RWSIDCW/47'U
I':\'C II/\NK, NA1'JONAL ASSOCIA1'JON I
SUCCESSOR 1\\' MERGER TO TilE FIR!iT I
BANK ANI> TIlU!tT COMPANY 01<- I
'.11:CIIANICSIIURG,I'A, I
l'lalntlrr I
v. I
I
\'ENTZEIl 1I1l0S. CONSTRUCTION, INC,
Derendanls
IN 1'J1E COURT OF COMMON PLEAS OF
CUMDlmUND COUNTY, PENNSYLVANIA
NO. 94.3239 CIVIL TERM
CIVil. ACTION -I.AW
1\I0RTGAGli 110RliCLOSURE
NOTICE 011 NON.JUUlCIAL SAUi I'URSUANT TO
INTERNAL RI;VENUE REGULATION 301.7425.3
"1",1: District Director. Internal Revenue S~r\'ke
lIux 12051 600 Arch Street
Phlladelphla,l'A 19106
Alln: Chief, Special I'rocellures Staff
I. The name and address of the person submilllngthls nOllce Is Richard W, StewlI1, attornoy for PNC
Balik, N,lIlonal Association, 301 Market Street, 1'.0. Jlox 109. Lemoyne, Pennsylvania, 17043.
2. Copies of the following notice of federal tax lIells (Form 668) flIelIln tho Office of the Prothonolary
or CUl1llwrland County, Pennsylvania, and possihly IIfrectlnl! the property to be sold, are attachell hereto u Exhlblll
and are made a part hereof by reference,
Court. Term & Number
()S 10 FTL 1992
(,585 FTL 1992
(,,'1 FTL 1995
Date of FIliIu:
July 20, 1992
Scptemb~r 21, 1992
February 7. 1995
Amount of Lien
S 21.511.37
121,429.22
138,922.82
3. 111e property to be sold und whkh Is arrecl~d hy this Nullce Is all that certain tract of property situate
III the Township of Hampden, Cumberlllnd County, Pennsylvania, being known u 6375 Buehore Road,
,'. h'dJ:llllcsburg, 11le property Is Improved wllh II one slory Induslrlal building, A complele copy of the Jellal
lkscrlpllon Is IlIached hereto and made a part hereof hy referenCe,
. ,
'I"" "' (V)
o
Notice of Federal Tax Lien Under Internal Revenue Laws
D.p.rlm.nt olth. TIIIIUrv . Inl.rn.1 Il.v.nu. I.rvlo.
\I\IY. It..try ,n',
)lllrlot
Serial Number
For 0 lion" U.." R"oll1/n Offlo,
Phi ladllphla, PA 23922439.
A,provld.d by lIollonl 832',8322, Ind 8323 01 Ihllnllmll R.v.nu. Cod.,
",vOl ,I. IIlv.n Ih.1 lu.. (Inoludlng In..r"I .nd p.n.ltI..) hlv, bun
.......d 11I.ln.I Ih.lollowlng,n.m.d ...p.yet. D.mlnd lor Plym.n. 01 thll
lI~blllty hi' bun midi, but II r.mllnl unp.ld. Th.r,'or., Ihlr. II . IIln In U~ Jr
f.vor 01 the Unlt.d 81"11 on .11 proplrly Ind rlghlllo prop.rty bllonglnglo ~.::I ~
thl. tup.y.r lor Ih. .mounl 01 Ihll. I...., Ind Iddltlonll p.nllllll, Ig"~~
Int.r..t, .nd COlt. Ih., m.y locru.. ~ ~j =
N.m.oITupayer AC ELECTlCAL CONTRACTORS INC , a Corpora' ~ .,
VENTIER ROBERT ; g ..
"'~"'1 II
:J~ .e
~() /I' /3f1
6~7~ ~ASUHORE RD UNIT I
MECHANICSSJ:lURO, r'A 17(1t55-':S';I(I
IMPORTANT RELEASE INFORMATIoN: With re.pect \0 each ananmentlilted
bilow, unl..e notice of lien Ie reliled by lhe dele given In column (e), lhil nollce
,h.lI, on the dey foliowing euch date, operate 81 a certlficale 01 releale ae defined
In IRC 8325(1),
D.,.o Unplld '.I.no.
Id.ntllylng Numb.r A.....m.nl of A.....m.nt
c d
941 lZ131/90 2!5-1634Z9!5 10/14/91 11/13101 6323.90
941 06130/91 Z5-163429!5 09/16191 10/16/01 7614.315
941 09/30/';'11 Z!5-16342915 01127/92 02126/02 71573.12
PI.o. of Filing
Prothonotary
Cumb.rland County
Carll.II' F'A 17013
Tot.1 .
2H51I.37
Thle nollce was prepared and signed at
Phllad"lphla. PA
,on this,
-_.
the 14th day of
Ju I v , 19
92
Signature
Tille
Manaa.r
23-01-0000
for
ACS
(Non: c.nil".'. 01 011"., .u'ho,I,.d by '.w 10 I.ke ecknowl.dgm.nl. I. nol ....nU.'lo Ih. veUdl\y 0( Nolic. of F.d.r.1 Tax Ii.n
R.v Aul 71.466, Ig71 .2 C.B 409) , " ' .
, ~ Form 668 (Y) (R.v, HI)
Pa'l 1 . Kapl By Raco'ding Offica
~
.
PNC Bank, National Association
SUccessor by Mergor to The First
Bank and 'I't"ust Compony of
Mechanicsburg, Pa.
vs
Yentzer Bros. Construction Inc.
Writ No. 9Y-3239 Civil Term
Stoven Whisler, Deputy Sheriff, who being duly sworn according
to law, silYs on January 4, 1996 at 10126 o'clock A.M" E.S.T., he
posted true copies of Real Estate Writ Notice Description and Poster
to wit. Yentzor Bros Construciton Inc, at 6375 Basehore Road,
Mechanicsburg, Cumberland County, Pennsylvania, according to law.
Michael Barrick, Deputy Sheriff who being duly sworn according to law
says on October 23, 1995 at 2.59 o'clock P.M" E,S,T., he served true
copies of Real Estate Writ, Notice and Doscription in the above entitled
action upon the within named defendant. to wit. Yentzer Bros, Construction
Inc. by making known unto Anne Barr Secretary for Yentzer Construction
Inc, at 6375 Basehore Road, Mechanicsburg, Cumberland County, Pennsylvania
its contents and at the same time handing to her personally the said true an
copies of the same,
Steve Whisler, Deputy Sheriff who being duly sworn according to law
says on January 4, 1996 at 10,26 o'clock A,M., E,S,T" he served true
copy of Real Estate Poster in the above entitled action upon the
within named defendant, to wit, Yentzer Construction lnc, by making
known unto Ann Barr Secretary for Yentzer Construction lnc, at
6375 Basehore Road, Mechanicsburg, Cumborland County, Pennsylvania
its contents and at the same time handing to her personally the
said true and attested copies of the samo,
R, Thomae Kline, Sheriff who being duly sworn according to law,
says that he served the above Real Estate Writ, Notice Poster and
Description in the following mannor. The Sheriff mailed the within
named defendant, to wit. Yentzer Construction Inc. at there last known
address at 6375 Basehore Road, Mechanicsburg, Pennsylvania 17055.
This letter was mailed under the date of January 5, 1996 and was never
returned to the Sheriff's Office,
R, Thomas Kline, Sheriff, who being duly sworn according to
law, says that after due and legal notice had been given according to
law, exposed the within described premises at public venue or outcry
at the Court IIouse, Carlisle, Cumberland County, Pennsylvania
on March 6, 1996 at 10100 o'clock A.M" B.S.T., and sold the same for
the sum of $1,00 to Attorney Richard Stewalt for PNC Bank National
ASSociation, Its successors and <1ssigns, It hcJng highest bid
bid and the best price received for the Sillnl' PNC Bank National
Association, Its SlIccessorB and assigns at 4292 Carlisle Pike, Camp
1111.1. 1"1. 17011, boing the buyer in this Execution paid Sheriff
H. 'I'homos KUne the sum of $1,002,15 it boing bid price poundage
stamps etc. Sheriff's Costs listed bolow. Seo attacbed distribution
shott for additional costs,
Sheriff's Cosls.
Docketing
Poundage
Posting flills
Advertising
Acknowledging Doed
Auctioneer
Law Library
County
30.00
19,6r,
15.00
15,00
30.00
10,00
, '10
1. 00
.
00707e.ooJl2l0itobcr I~, ImlltWSIDCW/47m
Commonwealth of Pennsylvania
Depanmenl of Labor &. Induslry
Pantano &. Son
Wilson Paving. Inc.
Capitol Iron &. Steel Co., Inc.
Groff Tractor &. Equipment, Inc.
Drlvekore, Inc.
Power Tool Service Construction
Equipment Rentals
C,E.R, Rentals
Pro-Cut
A-I Pipe Inc.
Rental Tools &. Equipment, Inc.
Chlzens &. Southern Commercial
Corp.
Internal Revenue Service
American Aluminum &. Insulation
Inc.
~
Bureau of Employer Tax Operations
P.O. Box 3900
Harrisburg, PA 17105
423 Corbin Road
York, PA
480 West Old York Road
Carlisle, PA 17013
P.O. Box 5201
Harrisburg. PA 17110
P.O. Box 1037
MechBnlcsburg, PA 17055
36 W, Allen Street
Mechanlcsburg, PA 17055
34 W. Allen Street
Mechanlcsburg, PA 17055
5 E. Allen Street
Mechanlcsburg, PA 17055
IS E, Allen Street
Mechanlcsburg, PA 17055
P.O. Box 398
Bridgeport, New Jersey 08014
4900 Upghur Street
B1adensburg, MD 20710
P.O. Dox 4095
Atlanta. GA 30302-4095
Alln: Chief. Special Procedures Staff
District Director
Dox 12051600 Arch Street
Philadelphia. PA 19106
P.O. Dox 649
Mlddletuwn, PA 17057
PROOlI OF IIUDUCA'1'I0N Oil N01'ICII
IN CUMDERJ.ANI) J.A W JOURNAl.
(Under Act No, ~K7. uppmved Muy 1f1, 11)21)).1'. L,17K4
STATEOFIIENNSVLVANIA I
COUNTVOFCUMDERLANO:
55.
ROller M. Morllcnthlll, I\.~qulre. Editor of the Cumherlund I.uw Jool'llul. of the Count)'
und Stille ufmesuid. being dul)' SWOI11. uccordlng toluw. deposes und su)'s tllUt the Cumberlund
Luw Journul. u legul periodlcul published in the lIomugh of Curllsle In the County und Stule
uforesuld. wus estubllshed Junuur)' 2. 11)~2.und deslgnuted by the lo~'ul courts us the oft1ciul
legul perlodicul I'm the publlcullon of ulllegul notices. und hus. slnc~' Junuur)' 2. 11)~2, been
reglllllrly Issued weekly In the suld County. und thutthe plinted notice or pnbllcutlon Iltlllched
hereto Is ellllctly the sume us wus plinted In the I'egulur editions und Issues of the suld
Cllnlherlllnd Lllw Joul'lllll on the following dutes.
viI.:
JANUARY 26. 11)1)5. FEBRUARY 2.lJ, IY%
Affiunt further deposes Ihut he is uuthorl/ed 10 verify this slulement by the Cumberland
Luw Journul, u legul perlodicul of generul circulution, lInd tlmt he is not interested In Ihe subject
mutler of the Ilforesuld notice or lIdvel1isement. und thut ullllllegutlons in the foregoing
stutemenL~ as to time. place Ilnd chllructer of public lit ion lire true.
a&AL nTAn: IIAL& NO. 1I
Wl11 Nu, 0,1.32:19 CI'1\
I'NC !lank, Nallllllal Assoclalhlll
SUlTrssor lJy merger 'n the First
[lank und TOIs' CUIIlJlill1Y uf
MrcluUlksburJt. Pu.
V8
Yrntler Urus. COl1stnlrUunll1€',
Ally.: llIchanl 51ewlll1
EXlUUlT ON
ALL lllAT CERTAIN I'lere or I'ar.
rei uf land 8Ullaled In Ihe Townshll'
of IIBtllpden. County of Cumberland
and CUlIlItlonwralth of Pennsylva-
nia, more particularly Ix)Ul1(ted and
desrrlbed as follows:
IJIWINNINO al a IKllnl oil Ihe
""olem olde oft.yulldale COllrt allhr
dh'ldlng Une helwrrn (.ols No, lalld
2 8S shown on thr. herelnafirr lIIen.
Uunrd plal1 of Ints: tlltltre olemA Buld
dl'1dlng line heh,,,enIAlI. Nus, I and
2. South 74 d('~r('r8 45 mlnutell
Wl'RI. a dlslnnl'e uf 380.40 frel Iu II
point 01 Innds now or rurltU'rly uf
llavld .J, Malamey: Ihrnre alol1Msald
laller lanll.. Norlh II deMreeo 30 mill'
llleR Ii fW(,Ululs (~ltRtt It olRlnl1l''' or
231.53 feel \II a IMllllI on Ihe SUllO'.
ern dedlrnled rtMhl of way line of
Dusehore Road os shuwn un the
hrrelnaner mellllnl1rd plan of lots:
th,.nre IIhHl~ 8ultl southern dedi.
"Jlrd ,jMhl of WilY IIlle uf lIasrhn...
Iblllll. Nnl1h 74 drMrer. 45 mll1l1leR
gnMt. n dIHti1lu'C'llr~:l:1 kc.t IflU polut
U11 IIII' flalllt' ill Ihl' IH'~jIlIlII1U uf U
C'III"'C' formlnu Olt' HtHllhwl'KI rnnlC'l'
flf lhr 1IIII'I"8<<'('lIullol Huhi Itu!whun'
Hilmi unci t.YllIulnh' ('ollrl; tlll'llI'l'
1111111" II 1't11"\'t' lu 1I11' II/-tllt 1111\'111" II
rlllllll-.uf till Ic'f'l, IlII niT dlslllllll' III
lI,l.~fi kl't ton plllllllllllht, \\'I'SII'11I
Hlllc' ull.Yllwlillt' ('01111: 1111'1111' 1I11l11~
Mid wC'Mlt'l'11 Klfle' ull.YlIllIlah' ('IIIIIt.
SOllth IIi tlt'WI'l'S Ifi 11I1111111'1'1 Ell~l: II
nllger
lL/
swonN TO AND SUBSCRIBED before me this
UlJ duyof FEBlWARY ,1996
l Lbf:J I ~.. - \/1 (J
. . ..' L{f',.l) )l~\b.--
Nntory'--
-~'AAiAl&C\l.
I" H' '~f MAAIlIVV, Noolll PIlll<
\ ,-, tl,inill.mCoIl'~f j;.
~lf ummiq'OI\ f.."... ...,""
~
,
'iJ
,-
.
, (' p,' ,',' "I' I'll' 1I,..lI,,1I ,.lI.ldl".!
herein Is CXUl't1y Ihc sumr:l' II'US prillled ''1lhr ,,'glllal' ..dili"ll\ ,111.1 I""l 01'111., Sa ill
Lumlll'lllllld Luw JOlll'llllloUlhc lilllowlug UUlcs.
vl1.:_
JANUARY 26. ]\)'.15. FEBRUARY 2.'.1. 11)%
Mlluut I'urlher deposes Ihut he Is uUlhorilClllo vclil'y this stull'mcut by thl' Cumberlund
Law Jnurnul, ulcl!ul periodkulol' gencl'llll'ircnIUllou. ulld Ihul hc Is uotlutcrl'sted In thc subject
mutter of the uI'lJf'e_~uld Illltke III' Udvcl1lseml'lll. Ulld thutullullel!utlllns IUlhe fill'Cglllng
stalement., us In time. phll'e uud dlUl'Ul'lCr of puhlkutllluurl' true,
IUAL lUAU: .AI.I NO, a
,
_.~? )~)lL_~~~--
I~Ogl'l\ ~1. Morgeulhul. Editor
W,lINII, IJ.I :ll:IIII'll'll
I'Nt' Hllllk, Nilllllllul A""IMhllhlll
HUHt'MUll1}' IIIt'If.&('r In 1111' Flu4!
UIlnk 111111 TlllItt ('llll1pllll)' III
Mrrhnllln'llJ1lfN. I'il
SW()I~N TO AND SUBSCIHBED bcl'lJf'l' mc Ihls
()l) duyol' FEIIIHJARY .ll)lJ6
( L~iXLlL~~.) ){fl\lrct/\L
r Notury .'.
\'M
\'I'1I11t'l' l'mH. ('ulll'tll'urllllnllll',
Ally,: llithlllll H"'",1I11
f:XIUIlIT"A'
A1.I. l11AT I '1(llTAIN plpl'r "1'111I"
{'('Iur land 1I1IIIItrct In till' TUWllfthlp
uf Itulllpclrll, CUIIIII)' III ('llllllH'flillUI
nllll C'lIIl11l1unwrlllth (If 1'rllnRylvll.
11111, t1uu-r 11fI11h'u11ll1y IHlllwlrd IIncl
d('8(,11hrd nlll ",.lIu\l.'H:
IlElllNNINlI lit II I"JiIlI "" Ihr
Wf'slrrn Ildl' of I.Yl1l1lllllr Cmu111t tllr
dll'ldlll~ IIl1r hrlw,,,," lois Nil, 1111,,1
201 showlI un thr hrfrlnnfll'r IIIrll'
IJwIN:IIJlnn of lul8; Ihrll('f' alurl" IUIlI
dlvldlllg IIllr hrlWt'rlllAlla NUB. IlIlld
2, Suulh 74 dr~'rra 4~ 1IIIIIIIIro
W...t, II dlalolll'r ur 3HCl,49 11...1 III II
point at IOlldl nuw or rurlllrl'ly Hr
llavid J, MllloNlry: Ihelll'r ""m~oold
I.Ur, 1.lldo, NlI,lh 9 d"~ll'ra 39 1lI111'
ute. 8 It'C'Omt. EOMI, 8 dlstnlU't" uf
2:11,53 fI't't lu a pulnl UII tlU' 81)11111.
e,n drdlrolrd tlMhl lIr WRY IIlle 1I1
Uasrhore Hund 8S shuwlI un Iht"
hereinafter U1rntJonrd plUIl or lutA:
Ihenrr olollg aald soulhern tlt'ct(,
raled I1ghl ur WilY IIl1e ur n....hlllr
llood, N0l1h 74 drgll'('o 45 1II11I1I1t-.
I'.oot, a dl.lolll'e ur 223 r..rl Ill. 1"11111
un the sume ot tlll~ IK'ltll1l1lng (If n
runT runnll1M Ih~ 80lltJlWf'st t'Ufl1rr
or tht: Intrl'Bf'l'tJul1 of sold UnArhutl"
/luad and LYllllrlnlr CUIlI1: Ihrlll'r
alung n ('linT 10 till' tilth I hU\'lng u
rndlu,. uf 60 rrrt. 011 OU' cll!llul1rr ul
94,25 ft't" to ft I"Jlnt UIl tJll' \l.'t'slrnl
.Id~ uf I.YlllUtllh' ('uurt: th('III'(' IIIUIlJ.t
IWtIlI \\1'8trrll Mlell' uf 1.\'111111/111' ('mlft.
South 15 dt'gl1,t'ft 15 lilllltllf's gll~t. H
dlslaJu'e ul 150 ft't't Iu 0 IKJlnt WI till'
IIllmr 81 lh. dividing IIn. h.l\W't'n
Lnla No.. I oncl 2 BI ahnwn nn Iht'
herein""", m.n!lunl'd 1'1811 1I1 lilia,
th. pl.r. of DEOINNINO.
BEING wI Nil, I .. .huwn Ilnlhlll
1't'I111ln )lInn of 101M t'nIJlh'II"Prrllllll.
11IUY FllIBI fiuhdh'IHlull PIIIII, I.YIlI1-
dllb' hutllstrlill PlUk. us n'wnh'd III
111f.' (}mt,t, (d tlu~ 1t1'I'uHll'.-ullll't'l11j III
Rnd fur ClllulN'r1ul1d CuulIly, 1'fo1111-
.ylvalllll, III I'llInIllMlk 5~, I'..~I' 1:19.
IfAVINO rrt'flrtl Iht'n'un It elllf'
Rim)' IIIdu8trtul hulldllt" knuwn 08
ll:l7511.....hlll1' lInad,
IIEINO 1/11' 0""'" 1'11.11I1.... whlrh
Hllhr,l II, Y"III11" lI11d W, Wllyd,'
Krlly, h,V 1111'1, d",.1 d..ll'd Ap,lI 21.
IUHU, 11",1 n't'Il,dl'dlln MIlY:\, IIIHII
IlIlh.llrn.,1' Illlhl' 1l.'wlll,', 1I111,-c-d.
rur CUlIIhrlhull1 ('tlllllly, III Ilrrcl
Ik.lk 3:1 X, I'..~I' H7ll. gl'lll.lrd 111111
(,uJlwyrtl IIl1ln YI'nt/.t'r UJlJ8. ('un-
MtnlC'lllll1.III1',
TAX MAl' l'Allel,l. NO. III 21l
IH:IH 2H E,
SJtI7.Kf), lllkrll III l'lt'f1I111l11 ollll
11l1Jt' MlI!tl,uI IIII' PIllP('II)' 01 ""III/t'r
IlnlM, ('Ullllt,.tll'lllIll. 1111'" JIllIUIIIt'III
IIf'hlm H 1111I111'111 flWIII"H
'-'-'~OIAl1IAl $' o\J.
lllll'l 'I ~AIl"1 VK.I, NcIl11l\blt
J. j .' Cl.ilTttl1ir~:H;OI.l'il I'..
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Proof of Pu.llcatlon of Notk.ln Th. Patriot and Th. Ev.nln. N.ws
an~'d!h~rt ~~n1~t!,~t~,~~!:.~!.~1
C'ornrno"wtollh of Pt"""//I'o"io, }
COIIIIIl/ of [JOUfAiII --:
..............,...............M.l,r;.Il.~h'.~..,t1\In;.,\!~........"".."."......heInll' duly sworn accortllnll' to law. dcpoacs and aaYI:
AIlIlt. ClJnlrol lor
That he la the .".......""".."......"of TIlJo: PATIIIOT ,!'\E\\'S CO" a COr\lOratlon orl!nnltcd and exlatlnl
under the law a of the Commonwenlth of Penns)'lvanln, with 1t8 prlnclpa office and Illace of bualneaa at
812 to 818 Market Street, In the Clly of lIarrl.hurg, Cnuntr of Dauphin, State of Pennsylvania, owner
and publisher of TIU; PATRIOT nnd TIU; En:NINIl NI,,\\'8 nnd the SUNDAY PATRIOT. NEWS
new'fapen of leneral c1rcullltlon. printed a III I IlIIhIl8h"11 at 812 to 818 Market Street, In the City,
Coun y and Slate aforesaid: Ihllt TIm PATII PT nud TIlJo: EVENING NEWS and the SUNDAY
PATRIOT. NEWS were estahllHhed March 4th, 1854, and February 15th, 1917 and September 18th,
10491.. respectively, and all hove heen continuously published ever since:
That the printed notice or publication which Is securel)' atlached hereto Is exactly 18 printed and
HutrlJ HUllt 23 d d 30tl d
published In Ihelr rellllar ,dltlons and l88uea which 1IlllK'ared on the "......"...!:......~.!~.............:.!......~.y.,~..,
.. ....~'. f.., ~.~.I.\ ~,~ .~, Y.." ~.!!.~~... ~,I.!~...,~ .~. !~,.,~. ~.r." ,~~. ~.., !:,~~~. ~ ~\~ .~X....~. ,~. ~ ,~..:..,....,..,.....,.........,........,......... "...,..,....""
That neither he nor sold Company Is Interested In the aubJect matter of aald printed notice or adver.
tlslnl. and that all of Ihe alleiatlons of thla statement as to the time, Illace and character of publication
are true' Ind
That he haa penonal knowled,e of the facts aforesnid nnd Is duly authorized and empowered to
verify thl. .lalement on behalf 0 The Patrlot,News Co. afOisald by virtue and pursuant to a resolu-
tion unanimously palled and adopted severally by the stik olders and hoard of dlrecton of the said
Compeny and lubsequenlly duly r~orded in the office for t rrdl of Deeds in and for said Count)'
of Dauphin In )11....110111."''' Illlll~ "M". \'111111111' II.I'O~. ~17, ).
eo" of Nolle. or Publlcallon ...,..............."....""..., . k.... ... ........ .... "........,......................
.. _1I1ol11....1 Sworn to and suhscrlbed re m II ...,~.7.t.h.....day of
.. .... ...... CIII ,. I'l'b r u, A D ~' ' j
file........... . .. --., ..,......."... , :;...'..,..', 1// /' 1bJ l' r
....... ..1ltlI...... ,... r,my llJ":::luii.. . ;{.... ..,..,I~.(..~.~..C..."..I.........
CIatIof.... J ......... 11011"00'0, Daul'lon unly 'i7 NollI", Public
"" My Cotllmi:l.lan Elpitel Juno e. 1908
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i =J'.:-..:Il':'~l:.t= I
;' ~;~!::=::::.~ (I Rectlpt for Advertising COlts
~i, ~r;.nj~ j~ii(!~ IlIIbllsher of TilE PA'I'H10T nnd TilE EVENING NEWS and the
S 1. ...e.:= till 'Rpupers of genl'rnl c1rculllllon, hereb)' ncknowledge recelllt of the
a. . .:&':.'T.:.....:7t: cosls and certifies thut the 8nme have been dul)' paid.
...'::';:,....::'r..:::....:: TIII~ I'ATRIOT.Nf:WB CO.
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Stat.n..nt of Adv.rtllll' COlli
Curolle.J;.lil.nd",CI.\un.tv...Snar.i.fb...QUic.a..
Ca r AJ.II.A~A......r..~.I....,J.].Q1J., ,........,..,..,.................
To TilE PAT/IIOT-NEWS CO., Dr.
For publishing the notice or publication attached hereto on the
above stated dates. ...........1 ,E....\J. Q".
Probating same .....,...........~..'..~.~...
433.00
..,.,...,....,...,.........,.
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Pr..f .f Pu~lleatl.n .f N.tltl In Thl Patriot and Thl EVlnlnl NIWI
all~ad!rh.!1 ~!n~,~t!!!!,I.~~:~!.~1
CommonllJ,oltll of P,n",,,lllnnin, }
('0'11I111 of 1I0llpAill ..:
I' "I"" "'MlOI! ~o 'ii~i,itg. IW '
" I' .Iq.plil '-il" 'LILI'ZEU ,/;'.\""""""."" "...."....belrlll' duly RWllrn accordlnll' 10 law. depoaea and aaya,
I' ..,IH.AiNIiiotIL\\ Uti 1J13 ~ . (J 11 \J I
U,,*, ~ uow ~o.. "..of TilE I'ATIIIOT. !>:J<:\\'S ro., a COr\lOratlon orll'Dnlzed and exlatlnlr
UI 'II\IOH PIIW.H IlII UI 'U1'd. 'enlth of Pennal'lvnnln, wilh iln prlndpD office and place of bualneaa at
811' ~ OIJC1lid HJi 'IUMud City of IInrrl.hllrll, ('Ullllty uf !lnuphln, Slale of Pennaylvanla, owner
al 11IM ii'l 'pIIlII dJ1lU'IOII3I . and Tin: ,.:n:NI!>:1l NEWH nnd the RONDA Y )'ATIlIOT - N~~WS
III "!!. 01 . epiI30Jd qllM '1101 )11, printed allll \,lIhllnlwll at "12 to 818 Markel Street, In Ihe City,
C, ,~... 01 ~;1UIIlP IIU. hal TilE I'ATH (\1' lIud Tm: EVENING NEWS and the SUNDAY
P. I '~r lulll ~I'II ,hed March 4th, 1854, 111111 February IMh, 1917 and September 18th.
It -Ill UD\I" 'oI(J 'AtljllllIII.lOUlllll e been contlnuoualy Ilubllahed ever alnce i
'llI03 11IM 011I lliiJI/Ud.~ publlcatlou which la aecurel)' attached herelo la exactly aa printed and
'Ut" JllJUIO '0 We tit
.IIIIlIJ....JOOlPI'..ltlijAlpUnljJ. d hi d h 23rd and 30th days
pi '.'d Oell I' U1uloJd IlIlu.q \I an Il8uea w ch appeare on Ie""."""""....".............."........"..""..,..
" ~I':rp.:.~ ~,~,!~"'~!,?y".~:,f...,!:~l.L?:.,~,?.:.X,",!,'~,~.~.:..,.....,.,.",....,...,.,.",.",.",...,.,.""""""...,'
.__1 1Ml." ":'=1., WIN npany la Inlereated In the aubJect matter of aald printed notice or adver-
II ~..,...1f'IIilllIll ~-. n,. IUJ :Iona of thla alatement as lo the lime. pli.re and characler of publlcatloll
a . . .
, ed,e of lhe facts &fore~ald and la duly authorized and empowered lo
~~'~!'''iMil. 'Iot._ 0 The Patrlot.New8 Co. &for aald by vlrlue and purauanl to a resolu-
311.'1"'" 'papu.~ ,do pled aeverally hy the stlfk nldera and board of dlreclors of the said
,. "'"'".",,~ ~~ro,~"~;~:~:.':;.,0 r;:.~r::.':~::"l
I Sworn 10 alld auhRcrlbed. e re III I. ""~,U,h..,,,day of
-'i c I r,\~~~r..\.l! , ~'l)~t'l i';;~D~"~ "l/ivlLC:1f:,,, Lrl:Nt..:.:.,:e.:p"flb(,,,,,,,,
, , .0' ISDlJlg au..ltn ~7 0/111'/1 u ie
.1r~ :1: MS;=:;:'~'~~:"~i~;c~i.
all! No. 2
CLU\lI;ll:.1: .lil.nd, ,.C~1un,W"Sh,e.r,i,Ufj,.,Qf.fj,c,e.,
Car ,1,JJ!.~~~A."".P.l\""", "u,n,u, """..." "".."..". ",,,,,,,.
To TilE I'ATHlOT-NEWS CO" Dr.
For publishlnll' the uollce or publication atlached herelo on lhe
above alated datea . ,,,,,,,,,J.E.'"\~!!'''
I'robatlrll( same ....."."".....~.:"~,~.,,
433.00
Total ...."",,,.,,..,,,,,,,,,,.,,
Pu~lIlh.r'1 Rlellpt f.r Advertlslll. COlh
Tim I'ATHIOT.NEWR (;0" I'llhll.her of TilE PATIlIOT 1111,1 Tim EVENING NEWS and lhe
RlfNIJAY J>ATIlIOT.NEWS, Ill'W"pllpern of 1I"Ill'I'/l1 rlrl'llllltloll, hel'ehy /I('knowh'dll'e receipt of the
eforeaald Iwtlre 111111 pllhlle/ltlon ('onIR 1111,1 certlfien thllt the 8111lle have b,'en duly plIll!.
TilE I'ATI\JOT.NI':WS co,
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INTR{)DlJCTU)~
II. Pl'Qpe"'Y Idil!nllnl'.llllllll and Hlllorlr.a1 PiI!~lI\'e
The IUbJCCI properly II Idcntlned 81 6375 Oaseahore Road In Hampden Towneh1p, Cumberlllld County,
Pennlylvanll. Thll propeny Is also referenced 81 tlle land and Inlprovemenll wocilted with Cumberland
County IU plll'Cd IO,20.183H,2HP.. Title to Ihls propelly Is presently vested In the name of PNC Dank Nltlonal
AuocIatllXl by v1nue of deed daled March 6. 1996, 10 be recorded In thc Office of tlle Recorder dwlnl the week
of Aprlll5. 1996, with cmsldrratloo ofSl.OO. Thesubjcct property w8l1OId at Sheriff ,ale by vlnue ora writ
of exClClll100 laaued on October 18. 1995 oul of the Court of Common Ple81 of Cumberland Cowlly durinl the
1994 dvllla1ll. Title to the propelly W81 prevloll5ly ve,ted In Yentzer Brothers ConslrUCtlon, inc. by vlnue of
deed daIed AprlI 21, 1989 and reoorded In Deed Book 33.X, Pale 876 with recorded COl1sldcnilon of $6O,lXXl.
To our knowiedF the propen)' baa IIIIl chlnaed ownership other than 81 noted above within the 1811 three yeln.
I1lI' II It preacntly optioned or under lIjp'CCl1lenl of we. The property Is currently listed for laiC with ClIDpbcll
OIlTlI Real Eallle al I reponed ukIng price of $795,000,
m. Pnlpert)' Rllhl. App...I-t1 Fee Slmplil!l
Felli. tIlIIe Is dcftned 81 ablOlule owncnhlp URCIICwnbered by any other Inlerelt or callie, eubject only to
the IlmltatlOllllmposcd by the 10VCl1UDeolal powers of lUallon, eminent domain, police power, and cachcIt.
IV. Pur,..... of Ilia! Appr81ul
The purpoac of the appralaalll to catlmlle the CWTel\t market value of the fee almp1e Intereltln the eubjecl
property. 111. our undentandlnl that thI. appraisal 1110 be used as an ueel manqemenllOOl.
V. SfIlpuf Ilia! App...lq'
The ecllpC of wort COlIIplcted In dcveloplna the value catlmalC Included Ihe followlnl:
· A pcl1Onallnspccllon of thc subjecl property.
· An cxamlnallon of cconomlc and dcmoaraphlc factors on both local and reatona1 buea.
· A lWVey and analysis of markel feclors Impacting the subJccl.
· A h1sbcsl and best use analysll consldcrinl the property both 81 vacant and 81 preacntly Improved.
· Developmenl of valuation analyees con,ldcrinl the Cost, Income and Sale, CompariJon Approachca.
2
Illll\lll~. MUl'lha. Sh\llllll'l'!! & I\~~lll'iall'~. I ilL',
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VI. l\t'r....l V.lullMlul!dl
Tho nlOll probable prke which I pRJllCrty IIhould brinlln tha compellllvo lU1d open mlrhl undor III cllI1dlllOlll
rcqulalte to I fair lila, tho buyer and IlCller, each &l:Unl prudenlly, knowlcd,asbly and wwnln, tho prtC411 1101
IIfCl:tcd by undue lumulUJ, 11IIIllldllnlhll dellnltlonII Ihe cllIIIunuuatlon of a aale IUI of I apcclncd dale and
tho pUlln,"f tllle frOlllllCller to buyer under CtlndlllllllJ wheleby:
I. Buyer Ind ICller are IYlllcally lIIollvaled.
b. BOlh partie. lII'e welllnfonned or well advlllcd IU1d ClCh acUn,ln whall1lCY COIIIldcr their own bell
Inlmll,
c. A relllll1lble uma II allowed for eapo.ore In tho open IIIlII\el,
d, PI)'l1lCIIIII made In lConl of cllh In U. S, dollll/'l or In ICon. of nnauclalarrl/l,emr.nll comparable
thereto; and
e. The prlC4 rqlreacnll I nonnal colIJldcrllllln fur the property IOld unaffected by apcclal or creative
flnanclnlor .alel conccullllll arl/lled by anyll/lC woclllcd with the aale.
VII. Tl'I!Illla and MarIJ..IQIl redid
The lIanilburl oommerclalAndUllrial mlll\el I. eapc:ricnclnl s 'CI\CraJ tlahlCnlnl II avallabla propertlCl are
belna IOId en4'or leued. DlecuulOlll with local real eltlle proCelllonal. IndlcllC 111l11100d qualhy Induatrill
.pace (pll'licularly nea-lypc lJIace) I. In blah demand and relllllvely abon IUflply. Renlal rlllU blve been
bueaaIna II modClI riles whb wlI'ehoulC Ipace now lculnlal rllCl belween $3.75 and $5,00 per lQun fool
and ..Ioclatcd olTlcc Ipace II $6.00 to $9,00. Olx:upauclCl are aenerally blab wllb the mWl-wlde Iverlle
above 90'11;. WhlIe!he1C IndlclIlon would lII"ell thai new colIJlr\ICl1011 ahouId be oa:UII'Ina for apeculllllve
blllIIlriIIlplIOC.locallllllUt panJclpaolllndlclle Ihalland COSIl In the more dealrlble locatlOlll are prohibitive.
Tho retultll that mosl new cllI1JlrUCtllll1 hll been for owner OCCUpllK.')'.
Tho IUbjcct pIqlCIty I. a multl'lenllll wareoouae and ofllce bulldlul ahulled In a lICCOndary IndllllrialloclllOll,
Tho ca.atIon oC the apa II .uch thal II IJ orialIcd IOward .mall uaer. with lIablltorl.e necdI. Deaplle blah
celIlna', !he propeny I. nolllllled 10 IlanlnclIll warebllulC pwpolC' due to the lack of loadlnl docU (drive-In
doon onIy)j IIInher, the Ihe conftlUl'lllon II .uch 11.11 a 1lIIInl area would be d1f1lculllll add, The pbylical
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TIIJ. XI. Podofal f'InonclallnaUI.Uul1I Ror,.n~ Ro<""ery Uld Elllot.emMl Act ur 1989 (F1RREAl. AU...lll, 1990.leedon
5601.4. AppraIuJ 11UldordI,
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INTKOD'JCl'ION
VIU. Gl!nl!ral Umltlnll Cllndlllolll
Thla appraleal report haa been made subject to the followlnll aeneralllmhlns condlllona:
. The opinion of valuc exprellllCd In the lener of tranlmlltalll the reauh of and lubJcctto Ihe data and
condltlolll described In delallln tile accompanylnll report,
. No fractlooal pan of tlwuppralaalls to be U!ICd In conjunction witll anotllC:r apprallal. Such use rendel1
II invalid,
. Thll report. or a copy thereof, may be transmitted III a Ihlrd l'el1011 or legal entity only In III entmly.
. DIac1011R of the coolCIIII ofthll report II yovemed by the By,lawl and RejUllllona of TIle Appralaal
institute. Neither all nor any pan of tllC contcnll of thla report (especially any conclualOlll aa 10 valuc,
tbe Identity of the apprallCl1 or the film with which they arc COl1IICCIed) shall be dlucmlnatcd 10 the
pubUc through lIdvatlslnj, public rcIa1looa, neWI, Ialea or other medii whhoultllC prior wrinGn conacnl
and approval of the appralacl1.
. Unle.. otberwlac ItalCd In thll report. the exlltcncc of huardous malerlal. which IDlY or IDlY not be
preaenl on the property, wu not observed by the appralacr, The appruaer haa no knDwledJc of the
exlata1ce oflld1 nlllcliala IIIII' In the pIqlCl1y. The Ippralacr, however. la not quallftcd 10 detectllllch
~. The prcaentc of aubllanCClluch aa Ubel108, urea.fonnaldehyde foam inaulllion, or other
plXeDtlally huardous materiall mlY alTeclthe value of the property. The valuc eatlmltc la prcdk:1lcd
on the IIIwnpllon that there Is no auch mllerlaloo or In the property thlll would Cluac I 10.. In value,
No rerpollllblllty Ia Ulwned for any auch condllloo, or for lilY CApertllC or m,lnccrina knowledle
required 10 dllCOver them. The cllenlla \USed III retain an Clpet11n thl. field. If dcalred.
. TheAlmicw with DillbiUllea Act ("ADA") \llx:ame effccllve Jllluery 26. 1992, I (we) hive not made
a IpCIclIlc lDlIfllllra 11IM)' and w1yala of th1J property 10 dctenn1nc whether Ol' not II lain confOlUllty
wltb the various detailed requlremenll of the ADA. It Is polllble thll a lXIIIIplllIICC lWVey of the
pcqlCI1y, lOFda' with a detal1cd w1ya1a of the rcxtulrcm:rtll of the ADA. could reveal thlt the property
Ia oot In lDlIfllllra with lIIC Ol' nuc of the n:quln:ma1ta of the act. U 10, thla fact could have ancalllve
eITecI ~ the value of the property, Since I (we) hive no direct evldeocc relatlnalO thlallluc.1 (we)
did oot cmalder poulble non-compllencc with the rcqulmnenlJ of ADA In eallmatlna the value of the
property.
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II II I'll ill'. MUrlhil. Shlllllll'I!J 8:. AWll'iilll'\, IlIl'.
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X. Cllrtlft.......
We certify thBl.to the belt of our know1edae and belief...
. the llalemenll of fact conlalned In Ihll report arc lJUC and correcl,
. the ~ported analYIII, oplnlolls, and COIlclualollJ are IImhed only by the ~ported WwnptlOIll and
Ilmltlna condltlOl\l, and arc my IlCl1onal, Wlblued profcaltonal anaIylCl. oplnlOlll, and concluelOlll.
. we have no praa1I or prospective Inltfcllln lhe properly tllllII lhe IUbJecl of thll ~pol1. and we hive
no penonallnlCRl1 or bias wllh roapcc;11O tho parllo1 Involved,
. 011' ~ Is not lXJIIlnplIlIjIOlllhc rqxl1lna of s predetennlncd value or dlJutlonln valuc Ihat
flvonlhc CIIIIC of lhc cllelll. the 1ID0IIlI1 of the value catlmlle, the Iltalnmcnl of llIipulated rcaull. or
the occurrence of a lubecquenl evenl.
. 011' lIIIIyIClI, ~Inlons. and 1UlC1U11ona were developed. and thll report hu been prepared. In conformllY
with the Ilandarda and reponlna requlremenll of lhc Code of ProfCIIlonal fJhIca and S\IIldanll of
ProfCllllonal Pncdal of TIle AppraIsal lnatllU\e and wllh lhc UnIform S\IIId..da of Profealonal PrIClIce.
Includlna the competency provlllon
. tho IIIC of thll report II IUbjcctlO Iho requlremenll of The Apprall&llnllhulO ~lllInIlo review by III
duly IUIhorlud ~prellCntatJvca.
. as of the dIle of thll report. Mark R. Shonbera has comploied the requlremenll of the contlnuInJ
educatlon proarllD of TIle Appralea1IR1lllu\e.
. MR R. SIDIbcr.. KriIIi C. Smllh, and Ann L, Byrne hive l1lIde I pcrlOllll1napcclloo of the propcny
that Is lhc lubJect of thll repOO.
. no one provided alsnlficlIIl profeulonal aselslallCe 10 Ihe pt:fIORlllpIn.1hIa ~port.
. lhIs lIpptIIuI uelpunent was nol bued on I rcqueated value, I minimum value, or approval of 11011I.
Mark R. Shonbcra, MAl
PA Certlficltlon OA.67,L
AM L. Byrne
Krllli C. Smllh
PA Certlficatlon OA.731.L
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ARI<~A DATA
The area Is allO lCI'Ved by major rail lines and numcrous molor carrlcrs. The eXlCIlSlve freight yanls at Enola
(CwnIlmand County) havc current dally traffic of ncarly 4,000 cars and Is reportedly the Iccond largcst frclght
yard In the nation. TIiCfC arc more than 70 ovcr-thc-road carrlcrs operating out of tcn bulk tcnnlnals. PWCllger
rail sav\ccls Ibnltoo to the Anurak slation In Ibe City of Harrisburg. Olbcr transportation opportunities Include
the CIrIIsIc, Capital CilY, and I-Iarrlsburg AlJpms, 11lC region has an extcnslvc public transportation syslcllllbat
CIICompaascS most arcas.
Ill. P..)'u...... Charat'IA!r1IllICII
The rcgiooallOpography Is generally rolUng. Proportlooatc land uses In Cumberland County arc roughly 0.1 %
industrial, 3,5% commercial, 77% rcsldentlal, 2% public and semi-private, and 4% agrlcultwal. Dcvc10pmcm
has tpItIIlly followed major Iboroughfares and utility availability. The physical characterlstlca of the area arc
IUCh Ibal there Is abundant opporlunlty for devclopmcnt.
IV. PQplllal10n Tl'A!lldI
The Unlled Stiles CenIUS Department reports a 1994 population of 204.612 for Cumberlll1d County IDd
601.371 for theMSA. The followlogtable prcscnlJ population counlJ from bolb!he 1980 II1d 1990cenaUl, as
well as the moat recent estimate available.
.... I'" c.... lH41111alalt
c.plal Roel... 441.660 474,141 5,94. NA
M1A 556,241 !17 .916 5,71. 601.371
0Inb0rI0D<l 0lIIIIy 179,62! I U,2!7 1,70t0 204,6t2
~Iy... 11,163,195 11,111,643 0.15. 12,1l!2.000
26 m 105 241709 173 9.71.
The popullllon In the MSA Is focused In !he eastern and central portions of Dauphin Counl)' In the IrcII
lurroundlng the City of Harrlsburll; ibis 18 larllely due 10 Ibe extensive and well malntalncd trlDlportatlon
IlCtWIR. as Indlcatcd by the denshy of development alonlllbe major highway corridors. AI prcscnlcd above, the
rc&lonal. county, and local population of the subject property has experienced growlb In recent yem.
J
9
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AREA DATA
V. InMme l.J!vllI
Inromc Icvdlln tllC Counly havc "lined ullwlllll over tlle \811 decade, The fnllowlnlllablo prcacnll a lummary
of comparallve Income levell betwccn the county alld Ilale.
1.....0 Co......r C"'DI, 81111 C"'DI"SIllIl C"'1l'1oulI
419.9'19 U,611o 1I.......ldl 11.95110 IloulOholda .41,16110
S20,lXXI-U9.999 11,9110 1I....0h0lda 11,5lll1o IloulObolda UllIo
UO.lXXI-S39,999 11,3110 1I.......lda IUOlIo 1IoulObolda 11.14110
S40,lXXI-S49,999 IUIIoII....oholda 1l,40l10 1IoulObolda 20.21110
S50.lXXI-S14.999 11,1110 1I........1da 14, 1 lllIo IloulObolda 20,1"
.m,lXXl Ulloll.......olda 1,90110 1I.......1da 14.\3110
,
AI Ihown. Inoome dlltributlon wllhln the subjecl arca SUIllCSII an srnucnce level above thll of Ihc stalC.
VI. (l;mplqy.....nl
Ibnisburllls Ihc sllle clpllOl and. 81 such,lIovemmcnl jobl on Ihc ItalC level are a major economic feclor. In
addlllon 10 Ihc IhoUlllldl of jobs which are related directly 10 Ihc slllC 1I0vcmmcnl.the area allO benenll u a
a:nltr flx-1laIe cmVClllims, Wdbltlooa. '-Iquancn rc.- nUIIlrlllUl slalC usoclatlons and prIVale buslneUlll with
pcrnma1l1ffillallllls. AamIin& 10 Ihcl'a1lllylvanla OqIartmlIll of.... and IndUlll)'.lflIIlOalmllely 67.700
rcaldcnll of Ihc HanllburllCullsle,Lcbanon MSA arc COlplo)'ed b)' eomc levcl of lIovcmmcnl: I'cnnIylvanla
allle COlplo)'ccs make-up Ihc IUllcatllfOllp with 32,100,
With Ihrcc ~ mI1Ila/}' lnslallallooa In the area tllC fcdcralllovcmmenl a1ao provldca thoueands of jobs 10 real-
dcnta of CauraI Pennsylvania. TIle Inalal1al101l1 arc C...usle BUf1Cka In Harnden Townahlp, Shipe PIIU Control
Ccnter In Harnden Townehlp and DefcnJC Dlstribullon Depol Suaqucbanna PcJ\/\J)'lvanla (DDSP) IICII' New
Cumberland. A breakdown of the military InstalllllOlll and their civilian work force is 81 followl:
Defenae Dlltributlon Depol Susquehanna. PA:
Ship PIIU Control Cenler:
Carll lie Barracka:
3,600
6.800
601 Pull Time
359 PlII1 Tlmc
10
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AllU DATA
WhIle local. alate and federal employeea play BIllmponant role In the area's economy, combined they make up
lell than 20 percent of the area'a wort force, A number of luge colpOralioQJ allO have a presence In the area.
Principal employers In the realon arc listed as follows:
I. ......ylvolllo SlOllI 00.01Mllll1
1. UnllOd ~ 00......,1
[mployer
6. AMP Corporolioo
7, Oillll Food 510...
3. IIonhoy Poodo Corporolioo
4, Pmnoylvonlo 81110 5hltld
a. lIoniobwa Polydlnl.
9. llaITilbullllo.pital
10. lie... Intell1lllollOl
"
SlOllIUnl.IlI'
In 1994 thc CoWlty had a labor force of 113.300 perlOns, ofwhlch 109,300 were employed: this SUlIiClIJ an
UllCmpIoymcnt I'IIC of 3.'3% In 1994. nle employment data according to the State Bureau of Labor SlalIsd'cs
available for December. 199',lUlIieslJ that the MSA Wlemploymenl rate Is now 4.7%. In COmparl8Ol1 to the
slIle rate of 6.3% end the IlIllona1 rate of '.6%. With the strooll presence of govenunenl jobs as well II a diverse
local economy the Hanisb\lrll MSA hu historically had an employmenl rate below the natlooalaveraac. The
followlna table prcsenlJ proportionate employment by Industry sector.
II
COUll
ri .K
",I.
4.210
II 7.'
2J.K
lOllI 8.210
30.210
0,210
1.4
6,110
2010
6,'10
32.610
4,010
11
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Location Map
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ARF.A DATA
The HarrllburalllCa'l Iotal, non,aJricuhural work force stands at 318,600, of which 47.200 jobs arc In
manufllClurina. The lid dWlF In manuflll.1wingjobs for over the last year was a loas of approximately 100 jobs,
or leu than one percent. Service producing jobs, which makes ulI 2~6,900 lIICa jobs, had an Increase of 2,500
jobl, The sector wilh the largC8tgaln was govenunent; whllo employment atlhe Slale level of govcnuncnt was
bclna reduced, govcmmenll'J11jlIO)'Cl'll 01\ the locallevellncreascd. In addillon to localgovemmenl, CI11ploymcnt
In IIICI echool dJltrlcLs also emlbilcd lubstantlalgrowlh.
Employment II wcll dlltrlbulcd amonglhc InduslJ)' llCClorl. This fector Is IlCCn as an upcct of strength In the
ccooorny,
VIL ImmOldlale Nl!llbborbnnd
The IUbjcclle located In Hampden Townahlp In Cunberland County onlhe notthwest comer of the IntellCCllon
of Bascshoro Road and Lynndale Coun. The propcny II approxlmllely one mile soulhwell of Ihe Inlel1eC1Ioo
of SIkm 0ud1 RollI and U.S. Route II (Carlille Pike). ThlI area of Hampden Township II heavily bullt.up
w11h oollllllcrdal atabllehmcnLs including Gateway Square Shopping Center, Skyport PIUI, I f'rec."'....t1I1' K.
MII1I11d IIII1llIOUI ftce'llIIIdlna retail bul1dJnp. InIcnpcned belween the shopplna centefll/'C CII' dealenhlpe.
profaa1ooal oIlka and IlOOIC 1ndustrl1l USCI. New IDIIInICllon Is oo:wrina Ilona Carllalc Pike on the remelnlna
develllplble IlIId belween ulltJna userl and well on Carlille Pike In Sliver Sprlna Townahlp.
The vicinity or BIICIhore ReId and Lynndale Coon II an area of lndullrial usel which Includes &ee1 LoalJtlca.
Rhooe PwlcrK:, Auto Colllalon &pcru. alOp &presl and Pauon PIcture. A amlll OlIC-llory melal w.-ebouec
buIIdIna altUllcld behind Ihe lubjectll VIClllI and IIIIcd for leuc wllh Campbell Banil, ThClC commercial and
lndullrial UlCI are COI11pllmentary 10 lhc subject UIC.
Hampdm Townahlp II e~pcrlenclna arowlh. which has a poalllve Impact on all real eltate wllhln lhc area. The
lubjcc:t district, however, II . eecondlry Industrlallocallon that cannot COI11pele wllh newer, bener located
Indultrlal parkl, WhIle the locallon does nOl detracl fromlhe subject'l deslrablllty, nellhcr does It mhInco
rnarkellbllity.
12
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PiOPUT" DATA
F.nvlmttJnllnl.l~utwlrf'1C1! ("MIlIIIM'
An evalulllon of tho IUblurfsce COI1dhlOl\.l II beyond the scope of thll report, Similarly, we make 110
delennlnlllon u 10 the ablence or prelellce of any environmental hazard. h Ihould noted thlt tho value
conclualolll reponed herem Ulwne thll nu adverse condllloll' edit.
J;....-mIfl.nI.n:;..IV'J'nAl'.hl1V!nl.
Tho Iha II IUbjcct 10 Itrcd and wIIlly wmlCI1l1 of record, Other than thole IpCClfically IIlled. we ~ 1101 Iware
of any cucrncnll, mllrlclllllll, encwnbrll1CCl, leuca, rcscrvatllllll. covenanll, conlrlClI, apcclal IIICNlllenll,
lJ'dlnanaot or pII1lal inta'eata thaI would adversely affect value. We did 1101 complete Illlle search or lUrVey of
the propaty and wwne no rcaponalbllhy for mlllCrl PCnalnlnllo Ihle or owncrlhlp. We recommend that lho
client hive IUCh Iludle. completed,
D. Im,.-nv.""",t IlMl!rJD&kII
Tho IUbjcct ImprovemClltls a one and IWO'IIOrv conuneltial bulldlnl dcalancd for mulll'lCnant warchoulo and
ofIIallllC. AccordInllo plana prepared by Robert D. YenlW dated January 14, 1989.lho IlrUttW'C cootalna.
IP'OII buIIdIna ~ of 19.254 aquare feel and a rentable area of 17,580 aquarc feel. The property wnwna elahl
WIlli profiled u followl:
1'1nI...... ....., "'In ,.
Unk I . 0IlCl0 ond....OoIIaa (0.....) ArlO HI
~2.0m.0 m
Unk J . 0IlCl0 IIld .......... (0.....) ArlO HI
--............,
UDlI4 . 0IlCl0 S9I
~5.0m.0 m
UII1I6 . otlk1o S9I
1'1nI...... ,_
UnIt'. otlk1o ond w........ (945 SP oIIIao) '.m
Unit I. om.o ond w......... (I.JJOIPolII..) ',200
14
Bill 1111,', ~hlllh;1. S""ll1wlf' .1.: ..\'''"lil'''', 111\
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PROPERTY llATA
Thc conltrucllon quallly II Ivcrallc 10 Ilood OIId condlllon II aVCr&llc, We callmale Ihc effecllve age 10 be
COllllllenl willi Ihc chronolollical aac of Ilx YCl/'l.
m. Ta. and "'..--m.nl Information
PlIlUll D
I ()'20. I 838.2BB
ClwnfI of 1I11l1'.nrrt
PNC Bank Nll10nal AaIoclallon
~l"'."'.""'fI..n1
LlMI> II
9 0
aullllq"-II
45 20
ToIII~.1
5 50
MlliloIV...... UIoCLa
70475
1i,....1 PM.1Il Tn ('l~IlI.llnn
T.... A111Mt1, ...... a... CIlnul I> -I ....1tlI.. ,...
IoblrlpoliIJ 0,003000 0.003000 15,930 "5,520 ..,4.15
Idoool DlllnCl 0,115000 0,115000 15.930 "5,520 15,916.75
c-, 0,024500 0,024500 15.930 145,520 11,260,53
Real callie lUes arc Imi*:tcd by mII1aae tllC8l11li property 8SSCISIlICIlI; Ihc lI~s prelCllled above reflccllhoec
In cft'ect fll' the CUITCIlllU year. The lXIIlpOUIld awwal chanlle In mlllaJlC rates ovcr the lasllhrcc yeara bu been
1.75%. 1III antlclpllcd tI1an mlllaac rllCl will continue 10 chanllc at a similar rale.
PropMy IlIICISIl1allIs the other l.'OOlpIHIlI impactlnll real cstalC laxCl. Based on the Common Level Ratio. Ihc
cxlsllnll assessmenlls JlCIlCI'a1ly cooslslmt willi Ihc conclusion of thls reporl.
It ehould be noled thai real Cltale tam arc presently dellnquenl.
16
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mmlE!jl' t\ND BEST IISE
Bloltanllh .... mad1lno III.
l'rImor, .onlllllool .... C_ldlllll U..
1..hOlllll>ri.., Iilhotll\~
CIl!J*UI. <tbInolmoll1na. .1.Urlelon. pi.........
0lauIctdt'...........~ .tIoa, .01\'1.. ..d ......0
1_.Uilllll... plonu, poll1ll oIoll.uy, ....1o.lnduolriu
\\\oloNlo ,",'iloIlO', Mldlnt ....... ".........., ooId ......0
Illhou1d be noted thallhe exllllna UIC Illeaal and collfonnlo.,
n. AdaptabllUy or ilia!
AJ dllClllltJd In lhc Site Dala IlCCllon of thil repon. Ihc Ihe chareclcrlltlcl do not preacnl unuaual cblllClllplllO
development and the IUfl'OWldlo. land UlCI are complementary to IndultrlaI PUIJllllCl. AJ vacant, Ihc IIIbjecl
parcells readlly adaptable to III of Ihc lellal uacl wllh lhc eAccptloo of lTelpl yard/lmnlnal. a Ilm1tatlOll1h1l
I'Cl\lIIa ftom parcell1ze,
m F-_Iblllty or ilia!
PaaibWl)' Ia IlImcIloo of lbnand, which In Iwn may be mellW'ed Ihroup achievable lIIe. renl and octupancy
level.. Uhlmalcly, Ihc qucltlon II wbclher Dr 1101 demand II adequate to wurc 11I0 or rmllevell tIIII WIITIIII
antlclpllCd conalrUctlDII colli. Clearly Ihc IIJICCII of lellalhy and ldaptabllhy polnl to 1Il1nd1lllri1l UlIO. In
evlllll1ln8 the fculbllhy of industrial development we conaldercd Ihc followlnll polnla:
· The realDllallndullri1l market II quilc Itrona wllh I market. wide octUpancy rale In eACCU 0190'1>.
· The IIIbjecllllhullcd In alCCOlldary Industrlallocatloo.
· There II land available In more dealrable locallOlll. however COlla II'C prcIenlly quite hlaIl; wbcn
dcveIqJmmt bu lmlITCId In tbclIC IocatImI It hu been oriented toward Ou IpICC wllh I rellllvely hip
proportlDII of office apace.
· RalIa within lllC rcalm IRI anmtrated In the ranllo of 53.1' to 5'.00 pcr aquare fOOl for warchllllllnll
and 56.00 10 $9.00 for neA-type oroce.
· Market renll for Ihe lubJcctll'C ellJmllcd at $4.'0 for warehoulC apace and 51.00 for office arc..
Based m poinlJ llllIcd above, and coosldmnll (UIIlluctlon l.Ul1I auoclalcd wllh bolh warchoulC and office apace,
we conclude Ihal developmenl would be fculble for I lU'UClure IlItllely ortCIIlcd Inward warehouslnll'
18
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I. Intr..dl1l!llon
There I/'C aeverallnethOOs of land valuatl"l Ulled III PJll1rahal prllCllce. howover Iho Sllel Cnmpll1lon Approach
illhc mOlllnluhlvel)' dlrecl. 11111 techlllque cOlllllarClllhe allrlhulCI of Icceml)' IOld propenlOllO lhoac of Iho
lubject. For a properl)' loch III ~le lub)e", lIIe WIlt of C411l1parlsuIIIII)'plcall)' Juice IlOr IICrc.
~
~
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IJ. COlllparaLlvl Anatyalt
R~ Induauialland uIca In IIllAIllndueuial parka In 1ICClI. four wero fmUld which offer rcuonablc dcarca
of canparablllt)' 10 the subjecl. AdjueUUC/lII were cOlllldcrcd for cOlldl~lII\J of laiC, I1nancln" IlIl1tcl chln,e,
locatlonal aluibulCI and ph)'llcal characlerlsllcl, 11le foUowlnllllble prellClIlI a 1)'IIOfIIII of the trlllllCllolll:
"and l'rl"'lcllon. Summlr)'
...01
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.....
I.......
s
LImot.1n Po" IAIIII Llmokiln M 1....11.
Pob,low Towwlllp PoiIvlow To"""'"
o
IIIMliI Vii" IAII 1
l.......l'.fmIhIp
L)'IIIMII c.un. Loll
1\ompIIo ToMllhlp
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INCOM~ APPROACII '1'0 V J\J..UE
I. In.rndul'fl&m
Tho undr.rIyina pnmlIc of lhIlloollllC ^J1IllUllCh Illhal value I. lhe presenl wonh oC fUIWC benenll arlllnl from
owncnhlp. WhIle llac balenllnlAY be langlble I.- uuwlglble,lhcy lIrC lyplcally IImllelllo 1/1 ClllmllC of Corecul
nellncome pOlcntial. Nellncomc II lhen IrWlaled Inlo 1/1 Indication of valuc by cmploylnll/1 appllcablc
capllallzatlon technique, AslIUmu11 Ihll one accura\ely forccasts nel Income potenllal and employs a
capllalbatloomclhod ICncctive of Invellor motlvatlOl\8.lIlC ICsultlnl Indicallon should be a reasonable value
cIlIlIIIle for lhIl propcny r1ahll appraised.
II PnlMllaI GrmalnMI1U!
1'bc IUbjccl propcrt)' curR'IIIIy Itu tcnanll occuPylnllb of lhe clgltllpacCl wllh Iwo IflICCI vacl/1l, AccordlDI
10 our lnatnJctillls, wc arc aaktd to proJecllhll polcnllallncomc based on markcI renta. dislClardlnl the currenl
1tacI, We rcaeard1cd recenlleuCl of warehouse I/1d nex space In lhc Ifarrllburl markel which Included bolh
Dlupbln and Cumberland Counllcs, nlc ICIUIIJ of our lurvcy are prcscnttd on lhc Collowlnl Pllie.
.......... ~T._.
IlllUllCl' umNO 7,aooSP 11,00 1-5 y.... Subjo.lluUdIna, 5,I1OIP ....... .I.no
UnkH IP om.o. BuII4iai boo ....liIlod MIlIl. ....
I., ..onl )'11I1.
11M.- QIdo 10,200 IP 1..75 I yw, ..I... o...~ mouI pontl........... bull4iIrI
~J:, wllb2 IP oIIIco.....,
.... u.o ..., 01, 2,200IP 14.00 I yw, ..100. PonIoa of muJtl._ molal.... ........
~J:, bulldOtl willi mlnlnW om.o ......
I.ouIooD.h. 21,UO IP 11,29 5 y..n, 1IIl1oo. 0."101)' _-r....nu bulloIiae
llpfor AllooI T....... wi'" loocl uIII.. .....
01 ~ ..... 0lunIy
...... ...... lll,llOO IP 11.75 I y.n; .. 100. 0.'1101)' 11*11 ponol wonbouN Iullclilli
~1'Yop. mlninol 011Ioo 1J*a'
0H0l,
10'. Av_ 10,000 IP IUO 5)'OOJ1; IIIl 1oooo Ponlon of .0,llOO SP nil bulldinil mlalmol
/.0"" l'wllIl T"". Dill.. ....
llo..,hIA Collllf
LouI. Ilrivo 21,UO IP 11,29 5 yun; IIIl I.... I'onIDn ofmultl._ n.. ~ I.
1Ill1ll1M>f"l_ om......
26
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l~r()ttf~ AI.I.'u}A~U TO V AIJ.l.E
IV. Ca>>lIAUJlIllon
Caphallzatloo II def1ncd u !he lrallslalllX' of nellncome benents Into IIIlndlcallon of value, Primary caphallzll'
t1onll1dhoda Include 0In.-c1 and Yield Caphalll.atloll, DlrlX:t Caphalll.llllon conaldenthe appllcllIon of a Ilollle
ralC to !he lIl1llclpaud nellncome In Ihe nUl operallllll year, 1'hll one rale provldel for the relum on tile Invest-
mom u well U the relum of the Invellmellt, 11111 method II mOlt effecllve when tile properly In queatlllll hu
achieved altablllzcd operallnlllevel.
Overall caphallzallon rates (R.,) can be developed and !cited Ihrou&h a varielY of methods, Two of tile more
coRUUoolec1mlques for ralC derivallon arc described brieny u followl:
. R.,can be dcvcqxId by s Monllaaelllquhy lechnlque which comparelthe proportlOllalC return require-
menta of both the equhy IIId debt polhlOlll,
. R., CIII be developed baaed on underwrhlnll crllerlaluch u l.OIll-IO- Value IIId Debl Covrnp ralllll,
. R.,can beexlraclcd dlreclly from the marilel baaed on the laic pri~ and IIIl1clpalCd lnoomo pncrallOll
of comparable propcnlca,
The followlna dIlCulllon addrellCI !he ulWUptlonl, requlremenlB IIId cOflClUllona auoclalCd with elCh ICCh-
nlque,
Mortl.rJP~lllty Tft'hnlqUft
The MonaaaeJEquhy lCChnlquc II _II ally III averalle of the cquhy IIId debl componcnta, welahled lIlI the
bull of !he IDd1vldual ratlOllo 1OIa1 value. Flnl addrcllin,!he debllidc of the equllIllll, I varlely of avcnues
II'C Ivallable flI' debt lInmdlll.lncludin& benD. S &\ l's, Insurwe ClIlIljlanlca. aoveTllmenta1 IICnclca. condulta,
lIllIlualllnll. REITS and otba' fOTlllI of ICCwilb.ed debl: overall. capllal doclllOl appear 10 be problClll. Mid-
Ilze 10 laraer propcnlca can ,cnerally avail thcn1lClves of !he broad TIII,e of nnancln, opllona, while llTIlI1ler
deall would have likely be Ilmhcd 10 blllks, S &\ 1.'1. or In IO/IIC IImhed Inalan~l. condul..,
AcardIna 10 the 8111OO'I/JOOII D.l..cY)' &\ Co, Nallonal Monlls,e Survey for March, 1996. the prime mlll1,lIC
rile for the prr.ccdIn,month wu 8,~'11 with lII\II polnl for a lell YCIT Icrlll wltll a 25 to 30 yCIT II\lOnlzallon
paiod. ThilIIda the low end paramelcr for likely financlnll, Lncal ballkl and S &\ 1.'1 are Iyplcllly In the rlllp
of 8030% 109.50% 00 a 20-yw lIIutlzalloo and nve 10 IevCll-year lenn. Ovcrall. h appearl thai debl financln,
wou1d be readily available flw tile IUbjecl alS rille of 9.0% In conjuncllon with a 75% loan to value rallo, 5-year
loan lenn, 20-)'oar amonlzatlon period IIId I.~ debt coveralle rallo,
2M
ILIIII"\', ~IIIIIII", "1i""hl'lf"\ \"llllilln, 1111
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SAU~S COMPARISON AIIIIROACII
I. InlmdUl.'llon
In the SaIea Compari.lon Appmacll recau IrlllUlfm of ahnllar proJlcrtles arc compared 10 lhc subjccl on the basis
of locatlllll1l111d physical clwllCtcrlauCII with Ihe pricc ller squarc fOOl a.. lhc unit of comparison, In developing
the lIII1ysll. we lUIIldcred Ullte rcccnt sales In the subjccl area. E1cmenlJ of comparlsonlncludlld CondlUOIII
of aale, financing. markcl change, location, 1II1d physical fllClora, l11c tablc below prcscnlJ Q IWIUIIIIf)' of the
lilCI cOl\lldmd.
II. ('"",,pandva! Analflll
11I01 11I02 11I03
'-iaa, J01 Mulbeny llri.o 61 TOIII'. Rood 4713 Cor\lolo Pib
su... Sprlne Townahlp SIIv.. Sprlne Townahlp llamplert ToWlllblp
Ornborl... Colllly Cumbe"'" Colllly CIInber\'" CoIIlIy
0r00I0r: Rubin lJovelopnerll Ro....,. RIa1Ibe.... IISCO
0....., RIS P....'C4, UPI A<quiIIUon C4rp, Robin R1dwd Reohy
Dolo 01'010, ....rdI,t995 July, 199) July, 1991
1nIAr1o, UA.... 5,75 A<I.. 6.14 ""NI
OBA (..p,), 40,ll40 )2,959 21,611
Solo Pri.., 1150,000 11,200,000 1100,000
PricoJII.p" Ul.21 116041 121,96
Solo COIllli'Jaao Moll,... I 2m. Mm.. ~ MaIbI ~
Mjalod PriAI I2U7 116041 127,96
~ MaabI I ~ ....,ke, ~ ........ I ~
Ad,Iunod PriAI 125,47 116041 127,96
MaabI auo.. SIOblt I ~ SlOblo ~ Worior I l~
MjuoIOd Pri.. 111.47 116,41 110.76
l.-lto1 SImlIal ~ Slmll., ~ S...rior .".
""yllool Inforloa 25. Inforior I~ Worior 25.
Ntl A...... loIor1oa 11. lnIorior I~ Worior I~
&1.... ... .0 nut
31
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SAULS COMPARISON APPROACH
SIIe J Is IlIIHIay I\lIIIJ1I')' llCll buIIdlna dealaned for muhl-lcnllll use, The buUdln,lalltpl' \Iwllhe aubjecl
and lhe condition of \he ImprovemCllIJ was ooly fair at \he lime of lIIe, Overall,lho phyalcal upec:1I of 1hI.
propcny arc inferior 10 the lubJecl and require III upward adju.IJllent,
SlImmAQ'
1'hc tmIl\juIlcd. price. ranaed from $21.23 to $36.4\ per aquarc fOOL with I melll of $28.53 and I JIIed1111
of $27,96, Subacqucnl \0 adJ\lllJDCnl\he ran,e becomel $3\,84 \0 $40.05 pcr aquare fool, wIth IIIICIII of
$35.24 and I maIIen of $33.83. Wccmcludca W1I1 valUCnrAll' median Indlca\Or, or 534.00 pcr lIqIWC fool, ThI.
cqUllClIO I polS value indication as follow.:
Ralllll." Aru Unit Vah.. y...... lruta.-..lnn
\9,254 S.P. $34.oo/S.P, 5654,636
.
Rounded 10: 5655,000
33
II II I'll Ill'. Mllllhll. Shlllllll'l'~ .'\:. A~'lldllll". 11Il'
.
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part 14
1-0 lndu.trlal - olnlral
,1401, PUepal., The I~O, Indultrlal - Olnlral Diltrict il
dlll;nld to provldl lor the morl Intlnll tYPII of mlnuflcturln; Ind
Indultrlll UIII, ~IVulatlonl to mlnlml'l thllr Incompatibility with thl
uther dlltrlctl of the Town.hlp an thl minimum required for the mutual
protlctlon of thl dlltrlctl In quilt lon, In promotlnQ thlll and thl
Vlneral purpo... of the Zonlncl ordlnancl, thl IplcUlc intent of thll
Part 14 hi
1, To IncouraVI the conltructlon of and contlnurd ule ot the land
fur Indultrlll purpo.I.,
2, To prohibit any UII which would lubltantlally Intlrtlrl with thl
d,vllopmlnt, contlnultlon or expanllon ot Indultrlal UIII In thl
o lit rlct,
), To Iltabli.h realonable Itandard. for bul1dlnQI and othlr
Itructurll, thl arlll and dlmln.ianl ot yarda and other open Ipacel and
thl pravl.lon of tlcilitiel and operation at lndu.trle. to mlnlml,. air
pollution, nol'l, Qllr., h.at" vibration and tlrl .at.ty halardl.
4, To ..parlt. by butf.r Itrlpl, from adjaclnt r.lldlntlal or
comm.rclll dlltrlctl,
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lOrd, 84-2, )/29/1984, 814001
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11402, Proc.dural Requlr.m.nt.. ~ll appllc.ticn. for p.rmltl,
purluant to thil plrt, Ihal1 b. lubmitt.d to the zonln; ottlcer who .hall
hlv, thl opt Ion of lubmlttlnQ luch Ippllcatlonl to thol plannlnQ Comml..lon
or to tha Townlhlp Board of commll.lcn.r. tor r.comm.ndatlon. prior to
II.uln; a p.rmlt, ~11 appllcatlonl .hall b. r.vlew.d by the Plan R.vl.w
BOlrd prior to the Illuanc. of any permit, (ord, 84-2, 3/29/1984,
81401/ a. Imlnd.d by Ord. 8$-4, 4/2/198$)
~
'1403, P.rmltt.d U.... Wh.n not oth.rwll' prohlblt.d by law, a
bulldln; may b. .r.ct.d or u..d and a lot may b. uI.d or occupl.d for any
of the fol10wln; UIII and no oth.r, 8uch UIII and bulldlnVI Ihall bl
compatlbl. with thl adjoining Ixlltlng land UI.I and bulldingl and Ihall
comply with thl provlllonl of Plrt 16 ot thll Chaptlr,
u
1, Motor vlhlcl. body Ihop, motcr vlhlcl. rlpllr garagl, motor
v.hlcll wrlcklnQ, truck walhlnQ, tlr. r.tr.adlnQ or r.capPlng,
lord, 81-4, amlndld by ord, 92-05, 2/4/92)
~
2, Brick, pott.ry, tll. or t.rra cotta manutacturlnQ,
J, BottllnQ workl and bookblndlnQ.
,
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4, BulldlnQ mltlrlall ItorlQ" lumber yard. Ind lumb.r mll11,
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&, 81ackamith and machin. .hop. .xcludlng punch pr...I. ov.r tw.nty
(20) ton. rat.d capacity, drop hammlra and automatlc ICrlW machln.a,
6, carp.nt.r, cabln.tmaking, furnlturl repalring and uphol.t.ring,
.1.ctrician, m.talworking, tin.mith, plumbing, ga., .t.am or hot wat.r
fittlng .hop.,
7, Contractor'a .qulpment, eal.e, .ervlc. and etorage,
8, Mlxlng plant. for concr.te and a.phalt,
9, cl.anlng, dy.ing and .team laundri..,
10, Frelght termlnal and frelght yarde,
11, Metal fabrlcation, forglng and bol1.r worke,
12. oa. (111uminating or h.atlng) manufacturlng and .torlng,
13, Oraln .1.vator. and bulk .torag. of p.trol.um and .imil.r
product..
14, Ral1road y.rda, repair .hop., roundhou.e .nd truck t.rminal..
15. 11.ctric and t.l.phqn. public ~tility tran.mi..lon and
di.trlbutlon facilitl.. including .ub.tation., w.ter pumplng .tation.,
r.e.rvolr. and .l.ctrlc pow.r .tation.,
16, Laboratorl.. and lithographing,
17, Laund.ring, cl.anlng, dy.ing, carp.t and rug cl.anlng,
18. Di.trlbution plant., parc.l d.livery and ..rvic. indu.tri..,
19, M.nufacturing, compounding, 'proc...lng or tr.ating of .uch
product. a. bak.ry good., candy, cc.m.tic., dairy product., drug.,
pharmac.utical and food product. 'KC.pt fi.h and m.at product.,
aauerkraut, vin.gar, y.a.t and the r.ndering or refining of fata end
oil.,
20. Manufacturing, compounding, a...mbling or tr.atlng of articl., or
merchandl" from the following previouely prepared material., bon.,
c.lloph.n., canv~.,:cloth, cork, f.ather., f.lt, film, fur, gla.., hair,
l.ather, pap.r, p~a.tic., pfeclou. or .emipreciou. metal or etone, ehell,
teKtil.., tobacco wood, yarn and paint not .mploYlng a boiling proc...'
,'.
21, ManUfacturing of pott.ry and figurinee or other .lmllar c.ramlc
producte u'lng only clay and kl1ne flr.d only by .lectrlclty or ga.,
:.' ..,..;
22, Llme klln., flour ml1le, manufacturlng or proceleing of cem.nt,
23, Foundrl.., .teel ml11e, manufacturlng or procee.lng of rubber
producta and plaatlc.,
14-2
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.24, PrlntlnlJ .nd n.w.paper publhhlno;r,
21, II.ctrlc.I, optlcll .nd t.xtll. m.nuf.cturlno;r.
26, Hlnuf.cturlno;r of c.lloph.n., Clnv.., cloth, f.lt, film .nd y.rn,
27, Hanur.cturlno;r of .Ircraft, .utomobll.., bu..., truck. .nd oth.r
tran.portatlon .qulpm.nt,
28, Hunlclpal bulldlnlJ., municipal u... Ind flr.hou...,
29, Whol...l. bu.ln....., w.ldlno;r .hop., war.hou... .nd cold .tor.o;r.
plante,
]0, cu.tomary .o;rrlculturll op.r.tlona, f.rmlno;r, nur..rl..,
Qr..nhou..., rldlno;r .c.d.ml.., llv.ry or bo.rdlnlJ .tabl.., dOlJ k.nn.l. .nd
.nlmal hoapltal.,
]1, Acc.a.ory u.. on the lam. lot with and cu.tomarlly lncld.nt.l to
any of the above permltt.d u...,
(Ord, 84-2, ]/29/1984, .1402, .. am.nd.d by Ord. 8'-4, 4/2/1985)
81404, condltlon.l U.... Th. followlnlJ condltlon.l u... .nd no
oth.r. m.y b. .Ilow.d by the Bo.rd of Comml.elon.r. .ft.r r.commend.tlon.
by the Plannlno;r Comml..lon pureu.nt to the axpre.. lJen.r.l .t.nd.rd. .nd
crlt.rl. .et forth In P.rt 18 of thl. Ch.ptar and the .paclflc .tand.rd.
.nd crlt.rl. I.t forth In P.rt 17, 817011
I, Th. .xe.v.tlon .nd ..1. of ..nd, Vr.v.l, cl.y, .h.le or oth.r
n.tural mln.r.l d.po.lt. or the qu.rrylnv of .ny kind of rock form.tlon,
2, Junk yard,
(Ord, 84-2, ]/29/1984, 81401)
SI405, BUlldlna Haiaht ~Imlt, Ho bulldlnlJ .h.l1 b. er.cted to .
hllo;rht In excI.' of thlrty-flv, (11) f..t, provld.d, howev.r, th.t the
h.llJht limit m.y b. Iner....d on. (1) foot tor ..eh .ddltlon.l foot the
width of e.ch y.rd .xc..d, thl minimum r.qulr.d. I.ch .nd .very y.rd
.hall .xc..d the minimum by the numb.r at ta.t propo..d to b. .dd.d to the
m.xlmum helvht of thlrty-flv. (11) f..t. lOrd. 84-~ 1/29/1984, 81404)
&1406, Lot Ar.. .nd Width, Th. lot area .h.l1 b. not 1... th.n
on. (I) acr. and lot width .h.ll b. not le.e than on. hundr.d fltty
(lSO) rut at the .tr..t I1n., lorll. B4-~. 3/29/1984, 81401)
'1407, Lot Cov.r.a..
w
w
I, Th. mlxlmum lot cover.v. of .ny lot In thl. 10nlnlJ dl.trlct .h.l1
b. .IQhty p.rc.nt (80\) of the tot.l ,re. of ..Id lot I... .ny addltlon.1
.r.. r.qulr.d to b. fr.. of Imp.rvlou. m.terl.l a. p.rt of the .tormw.t.r
m.naQ.m.nt f.cllltl.. roqulrld by thl. Town.hlp,
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.2, ~ny portion of a lot not cov.r.d with imp.rvioua mat.rial and not
r.quirld to b. othlrwi.. d.v.lop.d .. part of the atormwater manaqlmlnt
faclliti.e r.quir.d by thia Townahip ahall b. planted and maintained with
v.g.tativ. m.t.ri.l,
lOrd, 84-2, 3/29/1984, 81407/ aa am.ndad by ord, d5-4, 4/2/1985)
81408, Yard ReQulationa, Thl minimum deptha and widths shall be
provided aa foilowa.
1, Batwe.n induatri.l ua.a and other induatrial uaea or .tructur..
or a di.trict other than r.aidential or apartment-office,
~, Front yard d.pth. sixty (60) f..t,
B, Sid. y.rd d.pth. tw.nty-fiv. (25) f.et ..ch aid. .xc.pt
wh.n thl prop.rty lln. ia a r.ilro.d apur ua.d to a.rvic. the building(a)
on the prop.rty, No minimum yard d.pth ia requir.d,
prop.rty
prop.rty,
C, R.ar yard d.pth. tw.nty-fiv. (25)
line is a railroad apur ua.d to alrvic.
No minimum y.rd dapth ia r.quir.d,
f.et .xc.pt wh.n the
the building(a) on the
2, B.twe.n an induatrl.1 dl.trlct and. r.,!,d.ntl.1 dlatrlct .nd/or
r.ald.ntl.1 u.. or .n'O-A Offlc.-Ap.rtm.nt dlatrlct/ or .n A-O-L Ap.rtm.nt
Off Ie. Llmlt.d dl.trlet.
~, frent y.rd d.pth. on. hundr.d flfty (160) f.et,
B. sld. y.rd d.pth. one hundr.d flfty (150) f..t ..ch,
C, R..r y.rd d.pth' en. hundr.d flfty (1501 f.et,
D, Buff.r yard d.pth. twenty-five (25) f..t which .h.ll b.
cen.ld.r.d a. p.rt of the r.qulr.d on. hundr.d flfty (150) foot y.rd,
(Ord, 84-2, 3/29/1984, 11407/ .. am.nd.d by Ord, 86-4, 4/2/19B5)
, ,
81409, Control of Du.t .nd Dlrt, Fum.., V.por. .nd a...., Th.
.mi..len of du.t, dlrt,' fly a.h, fum.., v.por. or ga... which c.n c.u..
.ny damlg. to hum.n h..lth, to .nlm.l. or v.get.tlon or to other form. of
prop.rty or whlch c.n c.u.. any .el1ing or .t.lning of p.r.en. or property
.t any polnt b.yond the lot l1n.. of the ue. cr.J~lng the .mis.ion i.
prohlblted, (Ord, 84-2, 3/29/1984, 81408)
81410, al.re .nd H..t Control, No indu.tri.l u.e .h.ll c.rry on
an op.ratlon that produc.. h..t or gl.re beyond the property lin.. of the
lot on whlch the op.r.tlon 1. conduct.d, (Ord. B4-2, 3/29/1984, S1409)
S1411, Vibr.tion Control, H.chln.. or op.r.tion. which caua.
vibr.tion. .h.ll b. p.rmltt.d provlded that vibratlone are not perceptible
.long the boundary lin.of .ny non-lnduetri.l dl.trlct, (Ord, 84-2,
3/29/1984, 81410)
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PNCBANK
Mordl I 5. JlN6
M.,~ R, fihonbcr&
IIlfllne, Murlh., Shonbcr& " ^"ocll1u. lnu.
P, 0, 110_ 911068
PIIlI~urwh, PA I ~227
Ik Appralllll of IIRFO Ycnlur Ilmlheu ('on.truetlon
neur Mr. Shonbcra;
Upon your IICl'CrllnCe llfthe lerml, condjllon~ Inll crrlitlc~t1onl contained In thlv letler ("1.cUIlf
Allrcemenl"), Mark It, SIIOIIII,,.. 1M h~rehy author Iud 10 pcrform on nppr.INllIIlf' Ih, I'NlJl!l1r
knuwn 1M'
PROPIlRTY NAMu: ORF.O . Vell17er llrolhtrl Conllructlon
I'KOI'~IlTY ^l>DRE!i!i: 6J75 RlI5Chllre Road, IIlmpdtn Township,
rumhcrlulIll C'UUllly, PA 11055
rROl'FRTV OFSCRIPTIO:-l: Office/WlI'thoulc IMulll.lcnlnt de.lan}
F.FFF.CT/VF rM TF. or ^I'I'RAISAL: Ihe elTectlve dale of the oppral,,1 wlll he
the date of the Ilullnepcctlon of tho .nNett
rfllflerty.
F.llclo"d pleRlc tlnd 0 Cll/lY of lh~ followlnll documentl: tloor plall, plot rlan Bnd lellal
dllcriptlon,
lhe opprnlllll will relult In thc mftrkcl value. 01 ii, of the fee .Imple ellate of th~ Auhjl!l:1
property. when: "u II" referl to the leaal and phYllcal condition of Ihe fllllpetl)' 11M III' Ih.
crrecllvc dale or Ihe Approl..I, 01 if the lllnd WIll'e o\'allablc ror dcvclopmclltto lh h1llhllMl ond
hehllll'.
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Murk It Shonlterll
Ihrunr. Murlhn. Ilhonb~rll & Assoehlles, Inc,
Mlreh I~, 11Jl)(,
flaQ~ 2 nf 4
Markel ~ulue, 81 dellneLlllnd Allllpled by the Office 01' lhe CClnlplwller of Ihu Currency I. IlH
",lInws:
~urkcl VAlu~
lhe mUH1llfuhable pricu which A property should brinllln a compclili~e Illd opcn
mnl kCI undur ull cl'ndltlon~ requllilC to R I'uir 5alc, the buyer und sellor ellch IIctlnll
prudcnlly And knnwledgCRbl), undllsumtnlllhlllllC price iH nulllfTccled hy undue
.t1l11ulu~ Impllcilln IhiN L1eOnillon lllhe ~onlummAlhln nr 11l3le 01 01' u HpecUled
LIllie 1I11d the pmlnllllf tllIe I'rum IlCller 10 buyer under condition>> whereby;
(I) !Juyer and Keller are Iyplcally mutivlled;
(2) Blllh parties arc well inl'unned lit well advtsud, und lire Ilcth\i in
whll IhIly cnn.lder their own heHI Inlere.";
13l ^ l\lIl!lllnahle lime is allowed fllt expuKure In lhe open mllkct;
(4) Puymcnt Is mlde in terms 01' CUHh In II S dollars or in terms of
flnanelalllrrsnaemcntH enml'uruble thereto; IIId
(5) The /lrice rCl'rcacnt. the normal consideration for Iho Property Rold
ulwllilcled hy Npedal or creative flnanclnll or .alc. eOllOOlIIIlon>>
Iranled hy unyune l1sHlIclUlcd wilh Ihe sale,
Reference: 12 CPk J4.42 (II)
The ullrruiKul will be narrative In 1l11lure or on approvcd forllll ,md will Include all pcrtlnenl
Hecllllns in clInli'mlunce with the t 'Ilifnrm Stnlldunls "fl'rofeulonnl Arprlllanll'rllctlce (U~P"I')
uml Ihe lildterul relllllulury requlrell1ents Il' ~eclf1ed hy the nffice of Ihe Complroller of the
Currcnc>' Ami inclulle a copy of your slule cerllllculiun (u~idelldnllthal YOIl Arc eum:nlly certified
III Ilood standing in Ihe ,tote In which Ih~ ,ub.lecl property I, localed). a slSl1Cd copy of thll
L'l1l1ulltllltnl lellter, und 1j1luhtiCllliuns III the upprulNus invlllved in the I'crrnrmAnec of thll
npprlllsal alsllllunell!.
Any 'tepl thAt are liken to comply wit" the Compde1lcy I'ruvlKllln IIf Ihe tlSPAP nlult be
dllCloled prior to IIccertlnllIhts lIKsillnll1ent ulld Inl'Ktlte dt~cnhed inlhtlllflprallll11 report. You
should also note that the L)c"lrture I'ra\'I~lon of WiPAP dues nlll urrly; e,II" ull or Ihll nppllllllll
Nlllndunls sellillth in lhe tlRP^P ure bmdlnlllellulremenll, for >'our convenience, Mid slnndards
and lequitelllenls lire outlined In Alft,,'hm,", A, which by rclcrcncc bccomcs An Intcaralpart Ill'
lhls I.elter Allreemenl (Rel~t III Alladlmt'", A PNC neln. Minimum N(w~rl(fcIIIIQI Af'l'rtliwf
Slandltrlu)
20'd din I to IUI-L2-..UW
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Msrk R, I)honhllrll
Hurnnr, Murlhu, Shonherll It ^IMlldltu, In~.
Murch I~, 199^
Pa~r J of 4
Yuur ucCCrlanlf of thl. Leller Aarc~mulll ocknll",l~dIlU Ihlt a dlwllut. Nlw"l1 the nlUlk lInd Ihe
hllrlower mu)' arise In cunlleelilll1 \\\ih lhe I'ahlllllfllll proPt"y, Shouhl Much ClreUnlMIAI'" ItIMi,
)IlU IlIsy be rrllu1red 10 IIll'elestllllllnr ulld ,"end IIIUr1 01 olhcr lell,1 prOOCtnlh11l' UlIlleiul,d with
Ihe dl.pUIC, If lhl. ocelllM, 0 .eparule ollreenlenl will be IhMAed hetwcun ynu Ind Ih, Ftenk
dehneatlng hlllh obll~ntlol1~ 1I11d ccmrell5otlon,
Vour ncccrlunce (lft/tll L~tlwr Allrt\:IlIC111 Mckn(lwledacw that you hne be.n enalicd by the Hlnk
to pcrlhrnl Ihe appreilllllilf an ellrecJ 1I1'l1n fel nOlln e_eeed 11.511II.110, which 11'111 h. paid b)'
the BlInk uller Ihe npprulSOlI has bccn IWl'lewed olld lIcctrttd Tltree Il) Ilrllllnll copitN II' tht
III1DI reporl will he rrovldcJ Illlhe Hank, 1115 lInderllood thallha deadline lor IhlN IIJl11ra11l111
Aflr1l18. 1'116 and IlIal time Is ul' Ihe euenee, ^ renlllty of Ill'c I S I r"l.nlllf tho .pprnIAllIIl,.
will Ill! I:hllllled for eVl!ry week, or pori ion thmof, Ihat Ihl\ arrr.illll report I. olcrduI, TIli.
l'lCnulty will he rllHlItcd on a live.dlY work week baal~ IIn~ ~.duclod fronl the IIllr..d upon
uppralllll fee
The flank reserve. lhe r1llht III share Ihc appraillll rerml with Inlernal .upporl J.rpurlmenh
(1IC4:lIuntlnll, tAll consultants, Qudllon, leael .tall', e1c,), Ih. uJlJlropr!.tc fedoral r'Il"llllnry
ullellc!CI, III rcqulre~ in thu ClIurNe of bUllnm: MOlh.r Ilnandalll1lt1lutl(ln whloh rllllUlllllI ~uch
Information: or to the current Uf prolpcetll'e borrowerIN), Furlhrrmort, the Ulnk nll\)' cHlrlll)\
dalft fromlh. uJ1J1rui~al for In.houso analy.I.. In diH~eminultnll cI'pl.. (If tho Ipprelul report, tht
Uank IIllre,N III nutify .he reciplclltlhallh. urJlrulslIl reJlurl WUll prepftl'td for the sole bl:ncllt of
the Runk and ~hould 1I0t lIe rclIcJ IIpon b) IUIY IIlher J1Ilflltlllllr '"ll1y
You ncknllwledllll tool, durinll the \crl\1 of thil Lctter Alltccmen. und In cllnn.cll"n with lh.
pcrformMce III' ~erviceK Ihereunder, the apprlllsor may aCllulre ~nll\lolld~. n' Ilr In'On1l1l10n
conccrnina the hllAinlNN, "rl!rlllllll1', unell Ind/or tlnlnelal condition nl'llHl hllrrllwlt Yuu IlIr"
110' tn diAcllIHe ltlllny Ihlr~ rarl)' wllhout tho written eOlUent ul' the Rllnk IIny illlitrmatl(ln !'tIlled
llllhe urrrullal aU!llnm.nt that I. non'rllblic nnd Ihll ""11M IIhllllntll.llinm thl Ftunk or durlnll the
cllur~e III' rei rllrmlnl/lll> elll/Sllemenl undcr lhll ^Ilrccmenl. The BWlk wlllllhluin Jl'rmlllllhm
!illm the hnrfllwer lInd conl'ey that pcn1l11lloll, or lack thereot, IOlhc lIppral~eI llIncernlnlllhe
dislemmulllln III' Nuch lnfmmutlnn
Finall)'. )UU IIl1rew that the cunlldentlallty obllllatlollll conteincd herelll ihnll Murvivc tho
tcrmlnatiou III' Ihe Letter Allr~l1lent. "nu Inlend to be 1'lIll1y bound hc/thy l\I1d a,r~c Ihftt lh.
prCJviMlon>> herrlll' ~hul\ hu ~.lIl'ern~d lInd 1'lIn~lrutd hy lhe Ie"", of J'tnn.ylvonla, ucludlnll lh
rrinclrleN III' cllnfllclllf' laWN,
It is IInderstood and a&reed that this contract II bulwecn PNl' UaRk, nnd Merk It, Hho,b'll ('n
behalf of IJnone. Murtha. ShonbulI II Alloelelll.llt, lhe apprllsal mUlt be pcrformed (and
the report Ilgned) by )'011, In oddllllln, Ihe rrnptrly lIlu~11lI! penonolly tn.pcrtcd hy YOII, 1 hi,
dOli not pr~clllde partlcipatiollln the apprftll.'ll procell by olher qunlln~d IlN\1clfttOl of th. firlll
CO'd dill I to 91\-lll....W
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TRANIMITTAL
LITTE_/IUMMA-V
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SCOPE OF THE APPRAISAL
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The purpose of this uppralsal Is to esthnute the murket vulue of the fee shuple Interest
In the real estate; IInd the function of the IIpprnisulls to serve liS u guide In delkiency judgment
resolution.
Consequently, the scope of this apprnlsal involved the IIccumulutlon of data necessary
to estimate market value. An inspection of the subject property wus conducted and courthouse
records were reviewed. The highest and best use of the subject properly has been determined
and each of the Ihree recognized approaches to value has been considered In this valuation.
The sales comparison approach, the Income approach, and the cost approach were all
developed. Data gathered Included comparable building und land sales, clllnparable rentals,
occupancy rates in the market arellund operntlng costs.
In addition, the llppruisers consulted with owners or managers of similar properties In
the surrounding area through telephone interviews and visited the properties consldel'ed most
similar to the subject. Data gathered as II result of this rcsearch was combined with
Information already on tile, which includes Inlimnation which may have been generated
through prior appraisals lind/or fellsibillty studies. Also, we have researched IInd conl1rmed
sales of properties considered compllrable to the subject property, and inspected those
properties, whenevcr possible.
The I1nul estimate of vulue lilr the subject WUI derived hy II correlllllon of the values
indicuted by the three approuches,
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lOCATION ANAlYIII
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....i.I'" .. ,U.i1nal.. '" " I """'" :I ~ iUllllt~'p '...tI.wtown I
nvll~'ltwrl" "1 CocollmuI ....,...~IO :M"~I.'''1I1l .Plllow I; SICflrnenta ~ . \'.II~') h~\\ .", T ..Lnt
j' '~ . . 1, ( uUllly I Ill. .... · (' Jt (,IV li.11 \ '."IV
I, /l 1" Ih~'l\ldl' 7 tOprlngOlen ;t ...D'D\!. lOll' ".1"
I' 1m, ) fltlOaWm .tit'V''ll HIB'. Illf U.UII~' 1.lIhl. t\ 11IIIh\,.1 'M .Ofi~tz;1l>' ' )j~~!. j '\.. ' I
I .J. i. I llJuuybllt\1 W1lh.'n~ ~ Jllndll)f~ftll~:h Lr('t'k ·
~ Goodvllle ~l\!, tI.I"', .' 'II' I -I
V"nWlt,1 . Wlllllvlllr ........'"-.\ 0',' , .U\IIII\, SI.ll~'I,II1l\' 1.'III\llh:11nt,rc,2M R ~" ,f(l('("""~lelml I
. . 1A "pool \ WCOI\IICO'.' W Imlown Ivln Paredl"
, ntDWllt...~ 11' 1~;1~.111111i1l.. .t"'''"~)I'.''lIl1l. ".t, . OI\,lon ,~' · ..- ~
... .' \14 \., " l\lk I ~.. \ ,
"",.,\16 hlln'~I'lll,!h'I'IIIII.Nlllllh\'1171 '.. ill ifill, .'f;lltab!lh,VIllIt r ',111 Ik'UI.hl(.,.'" ~lmeGrov. ,
" \ ,tylllletlbutd'" , II II . I ' \h,tw'"'' ....' I
inl"'~' , '"P"~(hllll''llhh;OI4>hIl:'" .11 \'11I,11I ,.,I.11l' llh"~ _' 1)1\ . ,. ilrtlUWll
r"MII \. , ',' · SI.II\'tMlIIl'l.lllll"!\lllllh"lllU .CUf'dtIl'1'1 \~\HI ^, .1..' ",t...'
na'r I i ~)IlIIIOJ'1 t;i~I()11 \I \ t lJ&' _ _ .. If I _ 1'.....'"111... u 1t:'''111
11 . 4' _ \. Mu,ll~1I1 '1 1'11) ,441 , . \tl{OlllllJl...",
;. J_t .^\I<llf "~~F.IIl~(tll~h.,.lIllh~llll'h\'IH-l _ ~fIt>lll'unllSl81101 1"4I~ I
~ ..'Mtn,.~yitCfillf~.~"'I1I,II"all'lll~ l' ilia", . III PIS .(nl"UII~IIlf' (;lf1t'III'IHtlI . '(i . Slltl,' thUlle '.dnd. N 'llll~rh:( Nil - -~,""J ~
i1.4'~ _ _. '. ., . .Inilrlnl :MI"t:k'JOO ... .-
JAinlell\lllle ,- l Illh'lhllf> , I · J~" .thel
I ~e ,,- WAt ""l iUihHufl N w6urfalo/L . !o.lilkll.llIh'141nllhNulllh,. .211~:r .
... . m., . .t. ~.I/"....I I ,.1 . ~ F de" k bu ~
Ilhrol .Wslell.uu j, _ .~" -MalamoJal ""'llllltOJ....lltf. ~ . .J' IIC I
MalmS\llllo / ' tMnnli>III.t _ , l't,*pll, It,lllPy (,t'" . '" .-,"'''' 8hnk....ltle .Oll~
l. ~ew Bloomfteld -1)' I VIdOllillulIlillt>1JO"1 - .' JOnlllot" ) Mt A.ln
, I , Ounrannon~ Ik!lWPfllJt>l}~ . ItlUlIII,llt'IIIlUI' 11'IIf""fllfv~ \21/". l'et>PUltMIIlI ~~'llIllbll1a
. ~ \ \ . . fln.t HJJlMW'" MtlJM1l41W1l
11'. .llllleoe,mal1V .~,ka(.nlll(>1 pi u,', .SIOIlt'O\ellU,I\iJII(tIIM\lI' 441'. (),Intville i .' \. ,Rockwood t uc;n
''''''~''''I.n'~''1 DauphIn tM11.lllldl',u\ · ....pt.njnellno.H)\lp \ -,- 1
1\>lIvltlo "If.... ""'" &,',1 I" ~I ' 'I \,.... . .. u' U I RI
. \.. ..;,1.111: tlitlll~ lUll ~ jllhlll~1 . (I. 51. ilown . IInd 11111 .,. ,.' .
_ '101 .... .....f:a~,l~;I~~~ .CI:V' , . ' . I. .lInglea1own ~' 1. Sytwl,' "'~ CUII('...ft, !,~n
. dllburg I i\ J :lll'n~ I ;all. ..~(J, .fvlllll' 'Y14'W CltW SpIlI1O. '.Annvlll" .' 1Ut(llIelJlOll
rfAna rt I'W' lutlt!rd' ,1Y r,lI12) IldlllKlvordf\lp U2".~" 1101111 ~"t-'"
'rvv"'PO"" ShU~lIl1l11\'l."nd"Ntll1lh~'1 I1U _i 5dI\l1~'d(h Palmyra I' \ ! ,\mille 1 II
I .' ~ Il 1 i IAlUlllall'alll . . ,I. .. 10'
5umm.rd.1e I Ir'''1I ""t .""';'1". ^" I'f"~ ~"'J"M'" '"lIalo 61"''''' ;.~ s"""'"
. Dunl"lclt)'llMl1 l~lO EnOla \i.4 '.b~' Hllelll('I~ltJfl'I'. C "blbo'ln \ f 111M uenUn RtXtno"Ont Chal"
r!)ll'"",,, 61:""" "'I'la. '~\'.'~' 4\'PW,~W.9.,,,,,,,~ ~~,;iiillW~Vfn. \- "'" ~U" ,.~ ..~'. lJou1r,OOOtlrM
JII',u.;1I Mi III- , "1" .. .., " . H"- lIrWlI ,Cornwall ·
. 1\ I l"iu 'lcd Inpcll~. ~ .1122" lI~ille . er,,,,;)' , Ion ~..... Mf'tinsl..le I'a. St.
CapUVI ..' 01)' .....1 ,. ""~ 1'1' l..~IIIlUdldt>I1' \ IH,. COJeUfoOk ";.:\"_ 'i 6
M'fd~~)I! __. _ "011 ol'Oll~'~~:e.;';o'\'.llll ~lildt1ton C"~"l'1 S'"" II,,,,, I~"J. ""llIh~, \~!f .. lQI ISIII, 1I1"'~f,J.Num'
N!J'IlIlngatown ....1 ""'!"~III' Ie \ "I~H"'I","I'''~ '_nl. _Lawn nM..... 1 "......CI
r."q , al. ' ." "",d. IllY . ,~ ~ , EI,'"",,11o P.n"'n ~
,_ ..... artllle '::""II'dl~f ,\I'td fillllllf Mctnotlalltllll. ll)Ol t I \ ' . . "
'O-,"'~OI r 1 j~i l<lWtlP......I... ~r ._nl~"li!1 JPdlouIa Mld~t;.:..., ".. QoIIa". 1'0','. .Jak Elm \
'.a ,4l=- ~-].J.'.1l'._'L Mt^1 lluncl '6 ~ y.... O~1u lhlKmSq1l81e .t 11'v~1e
)11 .lJOflr'r~'^'" '" 12ei'r Pta k1 . lfet" . !~'
,~. ' .CllIIH:hIUWI1 t .uowml"~al. t.,'6 . In , A n .00d line Manheim
, / r... j.1;il ,t ~Nauvoo, '\ .VOtlll'1ownIU' , .1 'ulugh IlalL flwtnlen V...l:':'" u -.... ...
......'" 0 ! tlt\lr."":Jl,/ . "'1.;"\ 'I 'I'......Y".' .''",'' ,~~
,'. tl II ~O~hng Sf>t"'~f,' i ' ~ l:~'iiiirryt~11f; f 113 '. +F8lnkllllh NI!~llle.,q, 1UI <' .Bport HIU r · I
Mt HolTi'llprlllU... . p,~uw" ".n,nit o,,,,eo-\;~ ," Rheem. Mt JoJ,." Meehl I\:avllle I "
UppelMl1l .Bl8vel~:n ", '21S1 J '141 I l;uo~.....t'illP't"lburg I" ~ 7rir'-....
! 1'" Slale (lall1~ l.and~ Numlwr i42..SllIne. Win \.Dalnbrldael . ooneg;6pnngl ....." >. .- ~.
f ~ kll I ' \f I. ,'SI8Cll~11 lUll l ~l~i H
H,,"'." IlU'~ r~n n OWn lhU",J 1''''d'QI.SI'l~I'''~r' Wttl<i~V"cl"" . M.yldwn oN.wtown ,., , ~ ,_
I ' . 1.. . ManC ..I., MtIAAJII _. IllI .fOl'''''IeI,.'g.I' ~ " , 'I'
r and he,lnul HIli. . ..leal PUll'll 'Nelllvllle lion. VIeW \ · . . II. j l31 . Che I =. ..' ~.,
0000v..' J Mya lown Ie "f\l '. "11 AcCOO\II() Marltl"a an" . " n,
~..UI1 ,u'UDam t~IHOV81 I C UlyhllVUrll' ~~ "'~(~~.' ..uij,- ~-.1
P. h Glen .,OO<~ M," ".,....~, , I · " ,,\.~J.clil" ilia Ma... RKlge ilIfW/'1I
Mtlebol.. jdlVII18 'k Spring,' tv 110*11 :~el'Mltl 'l" . rll .G1adel .SII~'II\ IV Wndam IH,?... I. .111\ w
, Gardnerl tt:"'lJltyGrOVe Dover.. ;~ 1\ ~ .MIIIVfl l4ill Ihl...~~IBOrb .1",1.
B ~ Villa f II,,~'~"JH"~ P PIe.~ItaVIlIe v~.V::.'ll'~. a
. 1'.A~per. ' "'''''''00'0 P<>ll1a'~" +VOf1( Vi ~M,"" .t;'~,.. Ea Pro.OIct .101001 . ~
( .J I hl\llIhittIIAI~,~ '" .0ej'1?'t" \loflgtevel Rockhill
jklladSIe Tn rOldvllle 'MIllie .301 y~(t14~ I, .Cletwell. Stone I
lIylOl1l8 .Oue,"~ ,\1 I .l\Ie .. ~ . 1Inv.Heflant'tIAI1.6 cfiij.n;iiiliu;;n HnllJ :.c;t."y .HlQhVIlIe · Co nna
BIg~rvlll' d .~a'l Berlin I j I IUJ t 1 111111' . MartlttlvltIe .......
HUL-' e J-46nl'tteW '12)4111 lhOmalvlle..... . Orayblll e 11ev. ~flvlley''''111e / . Safe Hal 5
",. .11I, l' Jlit 1I111Jlor Iflmlt"~. .t1lnoll lie. \ ~ SpiV' , .Wndior ~NI:Wa, tgevm.
1 ,1\~ l~oc~slallOll,.~ r~a.hVltle . I elJ\,1el.t-tPlghtl. ~14 ed lion Pete,.bura .t~~ .."'rtlC fOlge
I:H' { N(.Iwclw ef I Abbbnltown ,. Ual' \. tUl"(llbldftMIII "'4~1 '~ockt'Y Shenk, fell\-. Peque. I
1'''hJIlY) ,wig III .1~!~IlMn , ~ ",Spring Glove nlall(>/\{>~ .Rle. IV e~ Brogue 001"': Rawhn'vlllet (
~ fi l\lu,hHull ,lO f"aliItJfl'n. .,. \." 1 > .. SI'Ch.lJ'\MIII ',ElblMIH,..
..... Gr81l el 1I11Of1...~_, ~ . ".New l.tOtp MOIII,IOWIl:~~~~'MIIl' ',. . ll'4' .OllJV~t,Jll. leton CoIhnSVII~I' .=~"
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; ru III II -, , . U . 'Ill! ~I rile .' ~jallovl'r Jund.li... n,l1lt~llil("",n t Alrvm. r 1I
:, .. . . lK'IV I IIIlY r . portlft", Sideling .- - . }".' .1 )nl .
'11 \\pvdl. h:rt. '''UlB Nalilll1allll~llIru:all'IlI~' · - I St'~l"'IUQ~J.P{}I(HiI, Cro.., noads ottwood ' ",... f 11eaINIltet .CrnlPrHlI .i,. , ,JaRellon'l, " .. . tMeallf\lMI1 S rI.J Feu
IIry 11111" WC'IJellrhMflf l'\ Ill} al~ 'Valle)l.Jllllcllnll. . Cenlelvl1le tf?lnely ~ll,tffuc.,..1 \ unl1W61~~ '
, /':". OIChOlll tle'nKJ()llI ...ttt Mdlbur ..GlenR~ck tltylOOIlllill e. 1'1&] . .0'
j flH Twolilvt'1Il1 ~ant f (} .".' Hut:lIvlfl... .11nll. v.Iootlht"~. I ~ B
ullnl. .' 'I fitlf!l 6tallllfl "" .. R I' d . Odldll'U...lue. S"'"I"IOO Guile Fin · !
III ~.1. . , I dlenvllllt . autpa. . Oellevue . .-Coyn
, J'. t., 11'41 'I Ullln~)IIli Mill . 51Jdt ..f1\tJllIltlUl'l. nrv\' . . nIl. .SlewBrtftown Muttlfll,..tl. t 81l*Vllle sttllkJ
! ,lIplay'1~4' Ittle,lown 1l8tltJillll .11\111<111 .Ne~f'eedom ..'C ~1.if>l\lI('I. 1"JI"lf.N P k. l'"~ '14,1/'1011
iI . . ItPRlIllJP,\ .H\,ltl.l't';. '. . ew .r
i'" 1')% I lcl,.\". ,S1"~1 ,III" ,,~,\ """'Ill..".." ",,'.' .LI,,~bo,o ~.b!>l11 ~ ~n-M 'Maryland U"e' . """" ~ ~ ~ .. fa_wV Gf9~'" .C.tdln"..._
. . IftIlllUl,k. Ilnl~llt'.II~. "''j'' ~ 'COOItllutlon ., lUlU. -.
.. Ilarrishurg ^rca Rcgi~llal Map
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Scala 1 450.000 (al centel)
10 Miles
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.. Mon Dec 30 10 17 1006
MOlor Conneclor
Stale Iloule
10 KM
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LOCATION ANAL VSIS
"
The Nuhjecl propcrty Is IllClIlcd ul (1375 1I11Nehore ltouLl, llumpdcn Township,
Cumherlllnd Coullly, PennsylvlIniu,
REGIONAL ANALVSIS
Cumberlllnd CoulllY is 10clIted In the soulh-centrlll pllrl of PennsylvlInla, The
Harrisburg Metropollllln Slalislicul Mcu (MSA) is cllInprlsed of Cumhel'h\lld, I>auphln,
Lebanon and Perry counties, The Nuhjcct pl'llperty is loclIted within Cumherlund County just
north of Mcchanlcsburg. Hampden Township lies IIpproxllllatcly 10 miles west nf Harrisburg,
the capllal of Pennsylvanlu,
Summary
The generally favnrllble sociul. ecnnnmlc, gnvernmental, and envlronl1lcntal forces In
the Harrisburg arell shnuld cOlllinue tn cnntribute to the demllnd lilr real esllItc In the area,
There Is a gnod halance nf lund uses, u strong economic huse, lIn adequllte supply of housing
and labor, and a well-developed trllnsportallnn sYNtem, These factnrs contribute tn \IIakinglhe
area auractive for commercial, Industrial and residential development lInd wl1\ he signll1cant
for the long-term growlh prospecls of the area,
NEIGHBORHOOD ANAL VSIS
The subject property is Incllted just nnrth of Mechanicsburg, In an
Industrlallwarehouse/nffice lInd residential nelghborhond, Property uses In the Immediate
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Man Dec 30 10 21 1 Scele 1 21,816 (et center)
I 996, 2000 Feel lutel fload
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PROPERTY OESCRIPTlON
12
SITE DESCRIPTION
The subject propcrlY is Illculed III 6375 IIl1sehorc ROlld, lIampden Township,
Cumberlllnd Counly, I'cnnsylvllnlll, lInd Is more fillly descrihed hclow:
Slzel UlIllIcrcs,
Shape I Irrcgulur
Topography: The subjecl sile is nearly level and Is at grade with Dasehore Road and LYllndalc
Court.
Access: Access Is considered good from Lynndllle Courtllnd lJasehore Road.
Visibility: Visibility is good fromllasehorc Road IInd Lynndale Court.
Landscaplngl The property Is minimally IlIndscuped.
()ESCRIPTION m' IMI)ROVEMEN1'S
Warehouse/Office Bulldlngl Concrete foundation office/warehouse building containing
19,280 SF with steel and masonry exterior walls, flat ruhber roof, and constructed In 1990,
The building cOlllains approximately 10,492 SF of warehouse space (54 %) and 8,788 SF of'
office space (46%), The building contlllns II suites containing a total of 18,057 SF of net
rentable area. A huildlng sketch plan is tilUnd on page 14,
Pavlngl The majority of the site Is asphalt pllved with parking till' 40 vehicles.
Land-to-Building Ratio: This ratio is bllsed ontotlll arca of enclosed splice, which equates to
3.57 to I (68,868 SF + 19,280 SF),
.'Ioud Zone: Thc subjcct Is In an area c1assilied as "Zone C," which Is outside the 500-year
flood plain,'
I I'cderalIJlIlctgcncy Managemenl Agency, P/Ol~/lllJllraIlCe Rate Map: 1I0mJ1t/tll TOII'IISlllp, Climber/alii! CO/mt,l',
/'ellllS,I'II'OIl;O, ConUl1Unlly I'anel Nil. 420360A, dalcd I'ebruary 15, 1978
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APPRAISAL PROCESS
19
As a requisite to estimating the market value of the fee simple Interest in the suhJect
real estate, we have considered allthrce IIpproaches to value: The sules comparison approach,
the Income approach, and the costapprnuch. In the cllse of the suhject property allllpproaches
10 vlllue wcre considered In developing a Iinul vlllue cuncluslon. Inllddltion, the suhject market
area and other influences on vulue were cunsldered,
Influences on Value
In develuping the approaches tu value, many facturs, positive and negative, have been
cOlISldered, Positlvc influences Include:
. Accessibility to major tnmsportalion routes
. Location in an area with positive population and economic growth
Negative influences include:
. Limited availability of I1nanclng
With these factors In mind, the approaches to value will he developed and a I1nal value
estimated for the suhject property.
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SALES COMPARISON APPROACH (,(lIlllnued
24
Sales nmgcd fHlm $24,72 1'1 $53, 3H pCI' SF bclilre adjustmellls, Adjustments were made
fill' certain dlsslmllur c1mrn(leristics such as time, locution, age und condition, lluallty of
constnlctlon, " is judgcd thai salcs I. 3. 5, l) und 15 arc mllst cOlllparllble tll the suhject IInd
required the lellsllllljuSlJnenlS, These salcs indicale a rnnge of $37,03 10 $53JH pCI' SF helilre
udjustmcnts,
Sule I was IIdjustcd dllwnwurd till' the slllaller sile und upward fill' location and age, Sale
3 WIlS adjusled downward till' the cxccss land and slllallcr sile, This sale is also adjusted upward
IiII' age IInd localion, SlIle 5 was adjustcd downward tilr localionand upward IiII' Inferior access,
Sale 9 was adjusted downwurd till' the snlllller size, excess land and superior ollice space, Sale
IS was adjusted upward till' aile IInd infcrior
of'lice splice, Sale 15 was also adjusted
downward till' superior localilln,
These sales indicate a lange of $3H,74
to $43,11 per SF alier adjustments, Therclilre.
we have selc\..ted a unit rale In thc middle of
this IIdjusled rllnge till' the suhject lit $40,O(l pCI'
SF.
Applied 10 Ihc subje(t. this unil ratc indlcales a value Ill' $771,2(K) ($40,(IO/SF x IlJ,21l0
SF), Theretilre, the eSlinlllled lIIarKct vulue of the subject pHlllCrty hy the slIles cOlllparlsun
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INCOME APPROACH continued
27
The Income approach Is typlcully developed In the fllllowingorder:
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. Effective Gross Income mCm will he developed hy estimating potential
gross Income (gross revenue) frum comparahle rentllls IInd deducting
vucllncy IInd collection losses.
. Net Operatlnll Income (NOI) will be developed by esthlluting operating
expenses and deducting this estimate from cffective gross IncllIllc.
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nel operating income hy u rale selected through the hand of investment
method to urrlve at II conclusion of vlllue hy the Income capitalization
approach,
Effective Gross Income
The I1rsl step in the Income approach Is to estimate market rent fill' the subject property.
We hllve researched leases of similar wllrehouselofllce splice IInd discussed with knowledgeable
local real estate professionuls the market I'IInge fill' leuse of pruperties comparable to the suhject.
Our research finds murket rental rates fill' this type of space, rllnglng from $4.00/81' to $8.50/81'
on a net basis for buildings that primarily are II mixture of wllrehouse IInd ofllce space. A
if
iii
summary of the comparable leases is below,
Addreu SF l.eased ltalelSt' 'I' 1'eml CUlllmenument
2711 TUnlplke Or. 7,722 SI' $4,(XI/SI' Nel ~ Yean 111194
Dau hln Count
4~SO Chambers llill Rd. 6,lXXlSI' $4, 2~ISI' Nel 3 Yeurs 4/119~
Dau hln Cuunl
t412 Trlndle rd. 2,4iXl SI' $4,~ll/SI' Nel ~ Years f>l1193
Cumberland Count
2411~ Oellysburg Pike 2,9211 SI' $4 .50151' Net ~ Venn 111119~
Cumberland Cuunt
N, ~th SI. ],910 SI' $4,7~/SI; Nel 3 Years "11194
Cumberland Cuunt
31)(11 Derry Slreel 22,lkXI SI' $4,77151' Net ] Vellrs 711/94
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INCOME APPROACH continued
28
Comparable Leases
Addrea.. SI: Leased RatelS.' Trill! Teml ClIIllmencement
\losler Ave, 1,910 SF $5,0315F Nel 5 Vears 211192
Cumberland Cuunty
5350 Jaycee Ave, 1),I<<X) SF $5.r>4/5F Nel 5 Vellrs 111195
lJauuhln County
51 ()() I'ulun SI. 10,125 SF $5,11151' Net 3 Vellrs 211194
lJaullhln COUIIIV
5340 Jaycee Ave. 5,100 SF $5,12ISI' Nel 5 Vears 411195
lJaullhln CoUnlY
1549 \loball lJr, 21,055 SF $5,991SF (Jruss 5 V cars 1115192
Dauuhln CuUnlY
Century Dr, I ,5U. SF $6,IXIISF Nel NIA 11115193
Cumberlwld Cuunty
2111 Turnpike Dr, 1,J20 SF $6,25/51' Nel 5 V cars 1115194
lJaullhln County
Ulley Dr. 1.011 SF $(1.34151' Nel 2 Vears 6115195
Cumberlwld Counly
Rosedale Ave, ICl.2IXI SF $6,151SF Net 5 Vears 811192
Daullhln COUIllY
lIanlllale Dr, 2,IXXI SF $6,151SI' Net 1 Vears 111195
Cumberland County
Flank Dr. 5,IlX) SF $1,211SI' Net 5 Vears 411193
I>auphln Cuunly
Ikrry SI. 5,(~X) SI' $1.50ISI' Net 66 Months 311193
lJauphln Cuunly
310 Alexander lJr. 1),130 SF $1'(lC,ISF Nel 2 Vears 1011195
lJauphln Cuunty
Ilusler Ave, (.,5H() SF $ 7.rJ9ISF Nel 3 V cars 111194
Cumberlwld Cuunty
1I001er Ave, 3,% SF $1,HIISF Nel NI^ NI^
Cumberlwld Cuullly
Flank Ilr, 7,(~X) SF $1,H4/SF Nel 63 MOlllhs 111193
Ilauphln Cuunty
Slate and Trlndle lid, 2,(~X) SF $H,251SI' Nel 5 Vears 1115194
Cumberland Cuunty
44(XI Lewis Rd, lI,262 SF $H,SO/SF Nel 5 Vears III ~193
I>aullhln Cuunty
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INCOME APPROACH conllnued
30
Nct operlltlng Income Is effective 1ll'llSS income less expenses or $87,451 ($96,188 .
$8,737).
Thc overllll cllpltlllizatlon rule WIIS selectcd IIl1er II review of nationlll indlclIlors IInd
conversallons with local lenders, The overllll rate chosen is 10,50%. The hand of Investment
capitalization rate was huilt-up with markelmortgage IInd equity rilles.
Thereforc, net oJlerating IncllIlle Is cllpilalized at 10.50% Indicating an estimate of value
for Ihe subjecl pl'llperty, This equates to $832,867 ($87,451/.105), Therefore, the market vlllue
01' the subj~'Ct property by Ihe income upprollch as of De~'Cmbcr 31, 1996 Is $832,867, I'llunded
10 $825,000:
EIGIIT IIUNURED TW.:N'rV .'IVE TIIOUSANU ($815,000) UOJ,l,ARS
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COST APPROACH, continued
35
An amount of 7% Is udded for entreprcneuriul prol1t of $56,659, 'J'herelill'e, tlllnl Cllsts helilre
deprcclatilln equal $1!66,07K ($K09,4l9 + $56,(59),
In Ilrder 10 derive the Cllst approllch to vnlue nccrued deprecllltilln Is dcducted from
reproduction costs,
Physical depreciation Is cstirnaled hased Ilntahles from the Murshnll Vnluution Service
which uses estimllled actual economic life Ill' (6 yellrs), compared 10 total cconomlc life (40-45
years), for a depreclution rute of 10%. Therefore, physical depreciation is estimated at
$86,608 ($866,078 ~ 5%),
A rate of 0% will be applied fill' functional obsolescence due to the fact that the
properly Is considered very functionallilr its current use as n warehouse/office facility.
There is also no dcgree Ill' external ohsolescence present from the property's location
and currelll economic conditions, TherefiJre, total depreciation is $86,608.
Comparable land sales have been researched to estimate the land value for the subject
property, A sUlIlmary Ill' these sales Is shown on the fiJllowing page. Comparable land sales
range from $33,333 to $92,786,
After IIpproprlate adjustments, it Is your IIppruisers opinion that the subjects site is best
represented by a value of $50,000 per acre. Therefore the suhjecI site Is vlllued at $79,050, or
($50,000 per acre x 1.581 acres).
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COST APPROACH, continued
637S IIAS.:1I0R.: ROAIl
W AR.:1I0US.:IO....IC.: IIUIUlINU
R.:I'ROIlUCTION COST. N.:W
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I>IRECT - IIARI> COSTS
Worehouse:
Slluare Pool Cnsl
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TOTAL DIRECT. liARD COSTS
INDIRECT COSTS
Sofl Cosll @ S % or l>irecl Cosls
Site Improvemcnls @ S % or Dlrecl Cosls
TOTAL INDIRECT COSTS
Enlrepreneurial Prol1l 01 7 % or Direcl and Indirect Cosls
TOTAL REPRODUCTION COST, NEW
ACCRUED I>EPRECIATION
Pbyslcall>cpreclallon @ S%
Funcllonal Obsolescence @ Ult
External Obsolescence @ U%
TOTAL ACCRUED DEPRECIATION
DEPRECIATED REPROI>UCTION COST
LAND VALUE $SO,lXKIIAcre x 1.S81 Acres
INI>ICATED VALUE BY TIlE COST APPROACII
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ROUNOED TO:
38
$26,26/.f
)C 10,4112 liP
$m,520
$S2.38/.r
X 8.188 SF
$460,315
$73S,83S
$36,792
S16 792
$7J,S84
$36,792
$866,078
($86,608)
($0)
($0)
($86,608)
$779,470
$79,OSO
$8S8,S20
EIGHT HUNDRED FWI'V THOUSANO ($8!lO,OOO) DOLLARS
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SlAHMrNl or IIMllING CON 1>11 IONS
This Hppralsalls III he uselllll whllle ulld III II III pall, Nil pan III II shull he used In clIIuunclllln
with Rny lllher /lppralsul.
Nellhcr 1111 nilI' /In)' purt III lhe l'lllllellts III this rcpllrt shull he l'Illlveyed to lhe puhlic thmullh
IIdverlisillll, puhlic relutllllls, IlCWS, sules, III Illher mcdiu, wlthllut the written Cllnsent and
IIppmvalllf the lIulhllrS, purtlculally liS tll Vlllulltillll cllnduslllllS, the Idellllty Ill' the IIpprlllsers Ill'
flrm, wllh which we IIle l'llllnCl'led, Ill' any lither Iclcrellce tll thc Apprllisullnstllute or tll the
MAl des11l1ll1lilln,
I'llssessillnlll this .epllrt, III II clIPy thCIClll, dllcs Illlt clln)' wllh IIlhe rlghl III puhliclltllln, Nor
IIIl1Y It he used hll IIIlY pUlptlSes hy un)' hUI the c1lcIll, wilhoutlhe plevillus wlitlen Cllnsent of the
IIpPlalsers or the clielll; ulld InllllY eVCllt. lllll)' wilh pmper llulllillcallllll,
Nil respllnsihility is assumed h)' the IIppHllsels lill mattcls which IIrc III leglllnature, nor is any
Ilplllionllnthe lllle rendercd, (Io11d litlc is u~sumcd,
This pmperly hilS Ix.oen IIppruised liS though Irce 01 liens IInd encumlll'llllces, exccpt as herein
descl'ihed,
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It has becn assumed thllt the pmpcrty will he emcielllly mlullllled alld properly maintained.
The apprlllsers herein, hy re11S01l1l1 this reporl, arc not required tOllive testimllny ill CllUrt with
reference tll the property appruised. unless aHlIllgemenls IllIve tlCen prevlllusly made.
Unless lltherwlse noted, it Is assumcu there lire no ellcmachmellls, zolling violations or
restrictions existinlllhat would IIl1cct thc suhject pmperty,
The CUfTent (liS III the dale of appralsllll purchuslng pllwer 01 lhe dullar Is the hllsls hII' the value
csthllales; nil extreme flucluatlons III eCllllomlc cycles lire unllcipated,
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The plans ill this repolt ale included to IIsslst the reuder ill vlsualizillg the properly, The
IIppralsen have made no sUlvey III the propelly und IIssumes no responslhillty In cllnnectlon with
such matters,
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Inlill'llllltioll, estlmllles IInd Ilplnlons clllltllincd In this report, ohllllned from sources llutslde of
this oUlce, lire considercd rcliahle, hllwcver, no liuhlllty hII' them l'an IlC IINsumed hy the
appraisers,
The vlllue estimate Is sUhJccttu Ihcse lI11d to IIny olher ussuml'llons sct hll.th ill the hlldy 01 this
report,
Ullless olhelwlse lIotcd III the hody 01 lhis rcpurt, this IIppllllsul assumes thllt the suhject prullClty
dlJCS lIot fall wllhinlhe IIrellS wherc mlllluutory flllOd illsulllllce is eflcctlvc,
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LAURENCE A,HIRSH, CRI~, MAl, SGA
QUAUI"ICA 1'IONS
M.:MDERSIlII'
The Counselon or Reall(slale . ClUJ ,Iellgllolloll
The Allpralsallnslllule . MAl 17426 . Admlnioul CUlIlIlIllIee (1987.88) Yuuna Advllory CoulWlI, Denver
1984, Lake Tahoe 1985, I'relldent, Centrall'ellnlylvanla Chapler 170, 1\18].84
Soclely oHio" AplJralsen. Chsrler Member, l'resldent.IY921'9], Secrelary, 1\1\14
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Unlled Slotel O,'lf Alloclotloll
Nallollal Golf Fuundation
Mortgage Danken Alloclalioll
Nallonal Club AllOCiotlon
Golf Dlgell "100 Greatelt" I'auel
Oolf Courle OWllerl Alloclallon
[Jollald ItOII SoclelY
UrblUll..and hlllllUIC
Golf Coune Superinlendants Alln,
EXI'ERIENCE
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Apprallal and Conlulting Experience hal IlIvolved mOlt Iypel of retl ellale, Includlna commertlal, Indullrlal,
lingle and multi. family relldential and many Ipeclal purpole properties, Major areal of cOlWenlrallon have been
relall, office, dlllllbullon and lodglna propertlel with a lpeclally In the valuation and snalYll1 of aolf coune
propertlel. Addlllonal elperlence hll been developed In the aret of rccreallonal propertlel, development
comulllng analYll1 and appraisal review, Geoafllphlc areal lerved Include l'elUUylvanla, New Jersey, Delaware,
New York, IIl1noll, Mlcblaan, Ohio, Indiana, Kemucky, Tennmee, Tuu, New lIamplhlre, Connecticut,
Maryland, Vlralnla, Soullt Carollm, Vermont, Welt Vlralnla, Nevadl, Wlscomln, MUllchu..elll and Florida,
Cllenll Include financial Imtltollonl, IIW firml, accountlna firml, Indlvlduall and corporallom. II.. been
prelldent of Hlrlh Valuation Group or III predecCllon Ilnce 1980 and employed In the retl ellate apprallal
profelllon Ilnce 1978, Flnalllt for Cemral Pennlylvanla "Enlrepreneur of the Yetr" award for 1992 In Real
l!atale Calegory. Addlllonll real ellale Inveltmenl and development experience II outlllled helow,
. Centre Square Omce Bulldlnl' 15,000 SF office buildlnl, Lemnyne, l'elUllylvlUlla
. PrOlpcct PIau Shopplnl Center. 18,000 SF Iltlp Ihopplna center In York, Pennlylvanla
. Cherry Line II. 1II110rlc Rehab of 1,000 SF officelretall projeclln York, PelUUylvanla
. Blue Mountain Place, 5,25 acrel, development and manaaemenl of project
. Prospect Common Omee Cenler. 10,000 SF office near Columbia, PewlIylvanla
. Oakvlew Omee Campus. Ihree.bulldlng 36,IXXI SF office In luburblUlllarrllburg, Pennlylvanla
UCENSEICERl'IFICA TION
Pennlylvanla Cerllfied "Oeneral Appraller" Nu, OA.lXXXl\9.1.., Rellllltate Droker, No, RM.o2\17511.C
florida Cerltned Oeneral Appraller No. RZ 0001030
Georlla Certified General Appraller No, 002693
South Carolina Cerltned Oeneral Appraller No, C()(1I236
Maryland Certified Oeneral Appralaer No, III I 15
Vlralnlu Certtned Gelleral Appraller No, 4IXlI.(X1I68]
Ohio Cerltned Gelleral Appraiser Nil, 395024
New furk Certified Oeneral Appral!er Nu, 17441
Qualified as cillOrI wilnculul'ennlylvoula, New Jcney, Mlllachuleul, I'lorlda,Vlrllnll and New York.
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valuation group
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LAURENCE A, IIIRSII, CRE, MAl, SGA, QUALJIo"ICATIONS, (continued)
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EDUCATION
Ptnnlylnnla Slale Unlnrllly, IIA 197H
Appralllllnllllule Course of sludy has Included all COUlles required for the MAl deslgnltlon,
Semtnan
Apprallaltnllllule
1I0tellMntel Vlluatlnn
USI'AI' and SlandardlUpdate
I.hlgatlon Valuatinn
Apprlllll Regulallnns nf Federallllnklng Agenclel
Rates, Rallos & Reunlllblenell
Invesunelll AnalYlls
I>lscnullled Cuh Fluw AnalYll1
Technnlogy In Apprlillna
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Golf Relaled
Duylng nr Leallng I 0011' Facility (I'OA nf America)
Onlf Cnulle Real Estlte J>evelnpmelll (Crlllenden)
Onlf Coulle Dellgn & Cunstructlun (I'OA nf America)
Oulf Coulle Develnpment & Financing. Inslltute rnr hllelllatlnnll Research
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Emlnem Dnmaln (ALII AliA)
"Whmlns Real Estate Tax AuelSmenl Cases" (PA liar Institute)
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PublltaUonl
Golf Markel TodlY, 2.95, "Seven Ways In Add value 10 Ynur Onlf Coulle"
The Appralaal Journal, 4.114. "Private Equity Country Club Communities. /ssues & A/I.lWtrJ"
Carolina BUllneu, 4.94, "Whll Are Onlf Cnunes Wunh7"
New En,land Real Ellale Journal, 3.25-94, "Ool! Course Vallles Depend on /,G.P,"
San Dle,o BUllnol Journal, 4.94, "Wall Streel hili ace with golf Invellmenll"
Golf Coune NewI, March, 1994, "Tis the SellSonfor Tat Tips"
Club Dlredor, November, 1993, "What is Your Club Wnrth and Why Shnuld You Know?"
ParlllGroundl Mllla,emenl, Nuv" 1993, "Cnllllder a OulfCuurse u a Revenue Producer"
Public Mlna.emenl, June, 1993, "/'ar For 17re Course'
American Clly" Counly, April, 1993, "OulfCnurses alTer Cash Flow Ahernlllves"
Ptnnlylnnla Townlhlp NewI, Janulry, 1993, "Well Pllnned OnlfCoulle Cln Be Exeellem Revenue Opportunll}' for
Tnwnshlpl"
The Appralaal Journal, Jlnuary, '91, Onlf Cuullell-Valultlon & EVllultlon
Edltorlll Review lIuard for GIIIlJ.JJJlTI.. " Counlry Clubll A Gnlde 10 AI'JII""I..I.M.....el Ana'yoU, Den.......nl
and ..'nanell\l
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LECTURER/TEAt:IIER
a Onlf Cuune Superlntendentl Assn, nf America, 2.25.9S, 2.96, Tnplc: 0011' Cuurle Ecuoomlel
. New England OolfCnurse Owners Assodalion, July 13, 1994, Topic: I'wpeny Valoatlon and Assellmenll
. Pennsylvlnll 0011' Course Owners Association, April 21, 1994, Topic: Real Eallte Taxea
. Crltten~en Conferences on 0011' Uevelopmem, molllple IlIel and datel
. University of Florida, Rho Epsilon, April 4, 1991, Topic: 0011' Course Appraisal &. AnalY11s
. Natl, Alln, Stile Tlx COOll Judges Conrerence, Harvard Law School, 9.26.91, Topic: 0011' Counel
. PGA nr America, "Oolf Course Design &. Construcllnn, t.92, 1.93.
. Oeorgla Section PGA nf America, lIuylng nr Leasing a Golf Course, Allanta, GA, November, 1993
. Golf Course News, Seminar unl'ohllc Oolf, Cbarleston, SC, 11.93, Orllndo, 1'1.., 11.95
. University of Wisconsin, lIeul E81ate Cluh, Fehruary 6, 1992,
. Financial Seminars, Ine" spcaker al "Financing Oolf Developments", April 9.10, 1992
. Golf lJevclopmenllnllltole, Golf Courlc Ilcnovatlon &. Expan!lnn, 12.93, 10.94,5.95
. Nallnnal Golf Coune Owners Assn" Seminar on Family lluslnc5S, 1.96
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TAX MAP
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CtflTlrltC ccl'Y
JOHNSllN, DlJITIE, Sl EWAI\T {, \\'I.IIlNi 1\..
"11l'nt~l:n..''''1''~'.
I I Hnn:r, r1.t~"~\I\^:I^
'111,11'111' I trM
I'Ne UM~I\, NATIONAl. ASSOCIATION,
SUCCEsson OY MEnGER TO TilE Fllt1i!'
DANK ANIl TRUST CmIl'AN\' OF
MECIIANICSnURG, I'A.,
1'llIlnlJrr
IN T1W counT OF C(J~IMON "LEAS 01'
Cl1MIII~IlI.ANIJ l.:OIJNT\', l'ENNS\'J.\'ANll.
VI.
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!l4.313!l
CIVIl. TEI{I\I
VENTZER BROS. CONSTRUCTION, INC.
Defendant
ORDER
AND NOW,IhIa 11' day of Jf,.~ ,1994, upon conslderllion of the StlpuJllIon executed and
entered on behalf of tb. Defendllltln the above captioned maner, Judlmentls hereby entered In f1Ivor oftbe Plaintiff
and alalnst the D.fendJnt, Yenl1er Orol. Construction, Inc" In the amount of Elllht Hundred Thlny Nine Thousand
Six Hundred Thirty Six Dollars and Thirty Six ($839,63636) Cenls, logelher with Inlerest thereon at the rate of7,7S~
per IIlnum from May 26, 1994, ami COIU of luh,
By lh~ lull. /.//1.
J.
,
TAUE r~py FROM RECORD
In Tntlmonv wtlelMl, I hore unto set my hMd
";:4t: j, r_3ld Co .t Carlisi., PI.
~Il, fi'- ~y I:$L,
Prol hbnolAry
PNC DANK L!T AL"
1'llIlntlfr
IN TIlE couln OF COMMON PLEAS OF
CUMnmU.AND COUNTY, PENNSYLVANIA
vs,
lJ02.11) nVIL TEltM
YI1NTZElt B1toTllEltS
CONSTlUlCnON, INC.,
Defendllnt
nVIL ACTION. LAW
IN HE: PETITION TO /'IX "AIH MAHliliJ VAI.UE
!l1illlJ!
AND NOW, Ihi~
I() ...
day 01 Januury. 1'1<)7, ulkr hl'urilll!. IIl1d l'lIrl'lill tl'vlew
of the testimony addUl'l'd, 11ll' mUll nlld~ IInd lkdlltl'~ Ihallhl' plOpl't1y locuted at Cl.\7~ lIushme
Itoud, MedlUnlClihurll, Cumhcrland COUllty, I'l'nrl~ylvllllia. ~halllll' vlllul'd III $71O.IKHI.{"IIIK III
Mareh Cl, t lJlJCl.
IIY TIlE (.()tJIU,
-1'\ ~ /1 Ii
Kevin A, I kKK, J.
Richard W, Stewatt, Eillulrc
Fot the t'llIinliff
./
Ctllig A. Diehl, Esquire
For the Defendant
. c.'~"'lm~~( ,j" '"'1,
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