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Home My WebLink AboutOC1969-0928 - ESTATE OF HOWLEY•lI"/',",,"•'J"~'. ..':~,.,' '.•~;~~,~':I"It~~.: ~......,l,"", ~.-'....):.~...,~....>..;;~.-:,tf:'.,. :/ " !' LAST WILL AND TESTAMENT I,ROGER M.HOWLEY,.of Allegheny County,Pennsylvania,' being of sound mind and memory do make,publish and declare this my', Last Will and Testament,.hereby revoking and declaring null and void. any and all Wills and Codicils by me at any time heretofore made. FIRST:I direct my Executors to pay my just debts,the SECOND: ,,-.:( · .expenses of my last illness and my funeral expenses. ,I giva and bequeath all my jewelry,automobiles, eloth:IDg and ,other,purely personal effects.as·well as all household, ·goods and equipment which I may own,to my wife,ROBERTA S.BOWLEY, if she survives me. In the event my wife fails to survive me,I give ,:' and bequeath the aforesaid items to my then living children,to be dis- tributed among them as they shall mutually agree,or in the absence of . suc:hagreement.as my Corporate Executor.in its sole discretion.shall .deem advisable.making such distribution in as nearly equal shares as ~,- ,' possible. THIRD:If my wife,ROBERTA S.HOWLEY•.survives me.I give. -., ,'-I devise and.bequeath to PITTSBURGIINATIONAL BANK.Pittsburgh,Pennsylvania. ·as Trustee,under that certain Revoeable Life Insurance Trust Agreement dated~"K~1I.i'ad actually executed by me prior to the """,cu~~.of "this-Last Will an Testament and as the &ilme maybe amended from t~,to time. ,!~_!•,j' '.. ,--'. •tote CllIP1,.,e. ~t ·,'... 80 1IlUCh of my.estate as will afford my estate the maximum allowable marital deduction under Federal Estate Tax Laws when this share of my estate,80 given, is considered with any and all other property of mine passing or which has passed to my wife under the provisions of this Will or otherwise,and which other property is included in the marital deduction allowed my estate.There shall.be excluded from this devise and.bequest any assets which do not qualify for the marital deduction.The property thus bequeathed shall be held as the .Marital Trust under the terms of said Agreement. In the event my wife and I should·die either si1llU1tane- oualy or under circumstances which ·do not afford sufficient evidence as to who was the survivor,it is my intention that it be presumed that my wife lUrvt.ved me • .,.FOURTH:..All the rest,.residue and remainder of my estate re- ma1n1ns after the payment of taxes as hereinafter provided,I give,devise and bequeath to my said Trustee to.be held as the Residuary Trust under the Revocable Life Insurance Trust Agreement referred to above. nrm:If for any reason the said Trust Agreement is ineffec- tive as a trust at the time the assets of my.estate are to be added to it, then the property herein siven,devised and bequeathed to PITTSBURGH , NATIONAL BANK,as Trustee under such Trust Asreement shall be held by it 1D truat in accordance with the provisions of the said Asreement in ita form 1mmediate1y prior to.•the execution of this Last Will and.Testament. SIXTH:In addition to the powers conferred.by law,my Execu- tora ahall lave the followins discretionary powera: -2- b··A ''~:"~~~",,~,';,j,J;:r I "l:'~I;,, ........'. '-f ~10·,.. ~.,.~.'" {~',~:"...,,,.-', .",•..';,"~...-~.,••,'I " "".. >• I' I ,c A.To retain as part of my estate any property received .hereunder,without any duty of diversification,and which shall specifi- eally 'include any stock which I may own at my death in PITTSBURGH NATIONAL BANK. B.To invest and reinvest the principal of my estate in such stocks,bonds,mortgages,securities or other property ,real or per- .,'- sonal,without being limited to the classes of securities or investments 1n which fiduciaries are by law authorized to invest funds• • c.To sell,exchange,lease,encumber,option or otherwise, dispose of all or any portion of my estate,real or personal,in such manner' and upon such terms and conditions as shall be deemed advisable,and to, make,esecute and deliver deeds,mortgages,leases,assignments and other doc:uments necessary to effectuate any powers herein'granted and which shall, ,specifically include the authority to grant .leases extending ,beyond the per- fod authorized by law. D.To 1DIlke distribution of my estate,in kind,in cash, or partly in Idnd and partly in cash and to this end,allocation of assets in ldDd shall be in the sole discretion of my Executors.Assets distributed in kind in satisfaction of any pecuniary distribution under ,' ;the tel'lll8 of this Will shall be distributed at their values on the date or dates of distribution. " .' ,, " E.To retain in kind'and to continue to operate as a > ,going concern during the administration of my estate,any business or business interest which I may own or in which I may have the controlling -3- ~agr.I ~ :i r,','.,r'i 1 ...:......... "- '-.' ,..~\'. ,- f,' ," •.~,- ..i }: -, :lDterest at the time of my death,so long as such retention and operation is deemed advisable,and my.Executors shall be entitled to adequate and' reaBoaable compensation for such services in connection with the operation of any such business or business interest in addition to the amounts_ usually awarded Executors in connection with the administration of estates. -During the period of time that such business or business interest is'so operated,the full responsibUity for the management aDd operation there- of .ybe delegated to any person or persons they may deem advisable.- Further,my Executors shaUbe authorized to distribute any such business or business interest to my Trustee in kind.Such business or business 1Dterest may be incorporated if my Executors deem such action advisable. MJ Executors,however,shall be authorized to sell or liquidate any such 1nI8wss or business interest upon such terms and conditioll8 and to such person,persons,corporation or corporations as they shall deem advisable. ','MJ Executors shall be without liability for any loss arising from or occasioned by the retention,operation and/or the sale or liquidation of "any such business or business interest. Notwithstanding the foregoing provisions and in addition thereto,it is my desire that first option to purchase my business known 88 BOWLBY ~TIRE,INC.,including all stock owned by me in said business, be extended to my son,JAMES R.BOWLEY"for such price and upon such.terms and conditions as my Corporate Executor,in its sole discretion,shall deem advisable,and in the event he elects not to purchase such business or busi- ness interest that it be otherwise sold within a reasonable time after'my, death. .. SEVENTH:I direct my Executors to pay out of the principal _of my residuary estate all Federal Estate,State Inheritance,Estate and Succession Taxes imposed upon or with respect to my estate or any , .......,...." " -..... -.or:.'.,;'. property in which I may have an interest,including anyproperty'not ,...., t . forming a part of my,testamentary estate but included in my gross estate, ,for tax purposes,except any property over which I have a taxable power; .of appointment in the event it shall be held that I have not exercised such power of appointment in this Will,at such times and in such lII8DIler as my Executors in their sole discretion shall deem advisable,and no such taxes or any portion thereof so paid shall be collected from or paid by -.any other person,persons,or corporations by way of reimbursement, proration,apportionment or otherwise. EIGHTH:I name and appoint my son,JAMES R.HOWLEY,.and PITTSBURGH .~',::'NATIONAL BANK,Pittsburgh,Pennsylvania,as Executors of this,my Last Will and Testament,and he shall not be required to post bond or any additional security in any jurisdiction in which he shall be required to serve.In the event IIY son,either at the time of my death or thereafter,should be unwill- :iDg or unable to serve for any reason,no successor shall be appointed. ....,,,.. WITNESS my hand and seal this .--.;,?-~g~_day of ~" 2fr~~.~~),- Signed,sealed,published and declared by the above named Testa- tor,ROGER H.HOWLEY"as and for his Last Will and Testament,in the, presence of us,.who.at his request,in his presence and in the presence of each other have hereunto subscribed our names as witnesses. 'l~, Address h " '!\.. Address Address -5- INVENTORY of all real and personal estate of Ro~e.t:..M.•...HQwl.ey deceased, late of Street W~~h.~.~g~~~City V(ard .......................................................................Borough To\\'Ilship,Pennsylvania. PERSONAL ESTATE SCHEDULE 25 Shs.First National-Bank &Trust Co., Washington County,Pa.,Common @ 36 200 Shs.Howley General Tire Service Inc., Common @500 . 100 Shs.National Mortgage Fund Shares of Beneficial Interest $1.00 Par Value @ 7-3/4 24 Shs.Washington Trotting Association Non Voting @ 6-1/8 100 Shs.Marcus Herman Inc~,Common $0.50 Par Value @ 7-1/2 $900.00 J'~100,000.00 775.00 147.00 750.00 $200.00 Washington Trotting Association S.F. Subordinated Debenture 6-1/2% Due 9/1/77 @ 78 Interest 3/1/69 -8/11/69 Prudential Insurance Company Employee Security Benefits,Policy No.G26-733002 First National Bank &Trust Company Checking Account No.06-00514-4-06 I.Newton Chadwick,Agent 1/16th Share of Gas Production Royalty per Statement dated 10/4/69 1/16th Working interest in Comes Creek Lease,120 Acres Norwich Township, McKean County,Pa. 156.00 5.78 278.57 420.66 26.07 85.00 $103,544.08 •• NONE NONE REAL ESTATE SCHEDULE REAL ESTATE IN PENNSYLVANIA MEMORANDUM OF REAL ESTATE OUTSIDE THE COMMONWEALTH OF PENNSYLVANIA • AFFIDAVIT OF EXECUTOR OR ADMINISTRATOR STATE OF PENNSYLVANIA !SS.:COUNTY .OF ALLEGHENY. Personally before me,the undersigned authority,a Notary Public in and for said County and State,appeared Gary C.Goodlin,Assistant Vice President.Pittsburgh National Bank and James R.Howley Vice President Assistant PITTSBURGH NATIONAL BANK ExecutoJ:S ¥¥~~~ deceased, and appraisement of the real d before 2.tJ) ..j-!4.~q4tJ4~I.,,;;/:;;'"_19 ) ) __~d/...I-.~aL..-J-U.~r:::::ia.~~Z-) Notary.Public GEORGIA OIJRNARAS,.'Iota"Public .Pltt1llturgh,Allegr.ellYCo.,Pa.My Commission ExpiresMi\r~b 15,1971 who,being duly sworn according to law,depose and say that And James R.Howley are the of the estate of Roger M.Howley that the foregoing schedules constitute a complete inventory and personal estate of ~~~~R~Q~g~e~r~~~~H~oAw.l_ey~~~~~~~~~~~~~~~~~~~~~~_ deceased,except real estate outside the Commonwealth of Pennsylvania,that the figures opposite each item of real and personal estate in the foregoing schedules are determined and stated by the undersigned to be the fair value of said items as of the e of the decedent's death.PI SB NATIO B B : Q()s::or!'d rl '';::s!,ED.v ,p::j ..i~~,j ,.,r 1_"'. ;.j..)ri.t~~'0 :Ul <b ~5 f70 DEC 7 54 :::s en ;l~Ql P~l ,;H LiI~~u .I I.'8 . Ql 1s::~,~l:l ~'-..0)J 0 r:x:lOA-.'"~'r'"'l ~'>-RU S:3 EL~,"~,;Rl N0 Z-P: ~~~:>-i e:t::Q():..0 ~0 fj REGISTER OF WILLS P4;s::t <6t:'';0ril~WASHINGTON CO .•PA.~..c:.p \ ~Z ~0 qUlOO -E:S ::c::Ctl ~P'\) ~~.~+l ¥~rn .~~ril ~:I:'-rn>c::x:;o Cc!Q0::IJ;(Y)~rIl .'0 .'Z d ',,. Z 0 ",~i0::Q)u.l t-4 s:=u.l '"'f'0 0 I -Q)~~'0~-&'0~< ......-.. , TR·2 RE';o.j)·52 , ,,.; ~..J J L I ,, > IN THE COURT OF COMMON PLEAS OF WASHINGTON,COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION ESTATE OF ROGER M.HOWLEY,DECEASED FIRST AND FINAL ACCOUNT OF PITTSBURGH NATIONAL BANK AND JAMES R.HOWLEY .EXECUTORS NO.28910-9· PITTSBURGH,PA.MARCH 20,1972 SUMMARY SCHEDULE A PRINCIPAL -PERSONALTY I j I Receipts Page 3 $119,360 58 JDisbursementsPages4and511:).~1:)~I:)q J Balance $104,006 99 SCHEDULE B INCOME -PERSONALTY ! Receipts Page 6 $473 92 J Disbursements Page 7 1:)0 7q oj .J I Balance 417 13 I NET BALANCE $104,424 12 J I 1I ,,. , f '., J I ~J \,-'f,f , ROGER M.HOWLEY TR-2-A REV.9-62 THE BALANCE CONSISTS OF THE FOLLOWING: PRINCIPAL -PERSONALTY Stocks Howley General Tire Ser31ice,Inc. 200 shares Common $100,000 00 Bonds Washington Trotting Association S.F-.Sub.Deb.Reg.6.50% $200 due 9/1/77 156 00 1 I Mineral -Interest 1/16th working interest in Comes Creek Lease,120 Acres Norwich Township,McKean,County,Pa.Sl:)00 $100,241 00 Cash 3.761:)qq $104,006 99 INCOME -PERSONALTY Cash 417 13 -J $104,424 12 , i -2- ..,;,').'. ROGER M.HOWLEY TR-2-A REV.9-62 SCHEDULE A PRINCIPAL -PERSONALTY RECEIPTS 1970 103,544 08Dec.7 Inventory filed $ I Advancements 1970 I Jan.2 Howley General Tire Service,Inc.- Deposit of funds to apply on administra- $tive expenses 5,000 00 I197224IJan.Pittsburgh National Bank,Trustee under Life Insurance Agreement Irrevocable of Roger M.Howley dated 3/28/67 for . Roberta S.Howley,Fund B,#14457-9 10.000 00 15,000 00 Gain on Sale of·Assets 1970 Dec.8 Proceeds sale 25 shares First National Bank and Trust Co.,Washington,Pa., on 12/4/70 at 36 $1,000.00 $Carrying value 900QOO 100 00 1972 !Jan.20 Proceeds sale 24 shares Global Development, Inc.,non vot.at 6.25 150.00Carryingvalue27.00 123 00 27 Net proceeds sale 100 shares National Mortgage Fund Shares of Beneficial Interest,sold 1/20/72 at 14 1,368.50 593 816Carryingvalue775.00 50 50 Conversion of Assets without Gain !Dr Loss 1971 Feb.24 24 shares Global Development,Inc.non- I voting stock 27.00Cash120.00 Received in exchange for 147.00 24 shares Washington Trotting Association non-voting stock 147.00Carryingvalue 0 00 $119,360 58 -3- ."f;." ROGER M.HOWLEY TR-2-A REV,9-62 DISBURSEMENTS Administrative Expenses 1969 Sept.2 Russell Marino,Register of'Wills - Certified copy of will $8 5010RussellMarino,Register of Wills -1 short certificate 1 00 10 Joseph Gilmore,Jr.-Appraisal fee re household goods 40 00 18 James Co Bane -I Reimbursement for advertising letters in Washington County Reports 14 00 22 Russell Marino,Register of Wills - 2 short certificates 2 00 I 23 Observer Reporter - 14 IPublicationofexecutor's note 00 Nov.26 Pittsburgh National Bank - Appraisal charge re 52-54 West Maidend st.,Washington,Pa.35.00 I Appraisal charge re 214-16 South Main st.,Washington,Pa.55.00 90 00 Dec.16 Russell Marino,Register of Wills - 5 short certificates 5 00 1970 Feb.19 .Pittsburgh National Bank - Reimbursement for calls to Washington,Pa. re income tax November 19 to November I 21,1969 1 63Nov.27 Pittsburgh National Bank - Appraisal charge re 118 Cochran Road, Mt.Lebanon,Pa.50 00 1971 Jan.4 James C.Bane,Esquire - Reimbursement for filing of inventory and balance of letters 23 00Feb.4 Pittsburgh National Bank - I Reimbursement for phone call to !Minneapolis -11/4/70 1 16Dec.30 Pittsburgh National Bank - Appraisal fee real estate 214-216 S. Main st.,Ward 4,Washington County,Pa.32 50Amountreservedtopaycostoftransferring 40secur.ities 00 1972 Mar.20 James C.Bane - Attorney's fee 4,605 0020RussellMarino,Register of Wills - Filing this account 40 00 J20PittsburghNationalBank- Executor's compensation 5.175 00 10,142 79 -4- . ,.. .- ,,.,-,,. ROGER M.HOWLEY TR-2-A REV.9-62 Loss on Sale of.Assets 1972 Jan.27 Net proceeds sale 100 shares Marcus Herman,Inc.,sold 1/20/72 at 6 $580.50 169Carryingvalue750.00 50 Preferred Debts 1969 Oct.9 David R.Miller,M.D.- Professional services $25 0029R.E.Krause,Druggist - Drugs 23 5929NormanM.Heard Funeral Home - Funeral expenses 2,514 80 I1970IJan.20 Frank Concilus,M.D.-Professional services 15 00Aug.11 Wilson B.Pizzi,M.D.- Professional services 208 001971 Feb.25 Dr.H.M.Cohen - Professional services 60 00 2,846 39 other Debts 1969 I Oct.9 Sol Mintz - 158Merchandise$2029J.A.Rungo - 64Groceries1329Arrow,Inc.-Car rental-67 6929GeorgeWashingtonHotel- Hotel service 47 55Dec.11 I.Newton Chadwick,Agent -0.0625 share of expenses on gas production 12 23Apr.9 Internal Revenue Service - Balance 1969 income tax :194 2'1 693 56 Other Taxes 1969 Nov.6 Russell Marino,Register of Wills - I On account-Pennsylvania transfer inheri-I tance tax -6%on $25,000 1,500.00I I Less 5%discount 75.00 $1,425 001970 Nov.10 Internal Revenue Service - I Federal estate tax 23 361972 Feb.9 Internal Revenue Service - Additional Federal estate tax '12 99 1.'101 :1'1 $15,353 59 -5- I ,"1 •.• ROGER M.HOWLEY TR-2-A REV.9-62 SCHEDULE B INCOME -PERSONALTY RECEIPTS Dividends First National Bank and Trust Co.of I Washington,Com. 25 shares -10/6/69 to 10/8/70 $51 75 Marcus Herman,Inc. 63100shares-12/22/69 to 1/4/72 00 I INationalMortgageFundSharesof Beneficial Interest 100 shares -10/31/69 to 1/24/72 27g 25 $394 00 Interest -Bonds i Washington Trotting Association S.F. Sub.Deb.6-1/2% $200 -8/11/69 to 9/1/71 26 72 Royalties 1/16th working interest in Comes Creek Lease,120 acres Norwich Township, McKean County,Pa.- Gas production "t!'. 53statementsof3/20/70 to 4/24/71:20 $473 92 , -6- ·, ," ROGER M.HOWLEY TR-2-A REV.9-62 DISBURSEMENTS 1971 and 1972 County personal property $tax -7/13/71 and 3/~O/72 9 17PennsylvaniaDepartmentofRevenue- 1971 Pennsylvania fiduciary income tax 1 92PittsburghNationalBank- 24 36Executor's compensation 25 $33 Mineral Interest 1/16th working interest in Comes Creek Lease,120 acres Norwich Township, McKean County,Pa.-IExpensesongasproduction-IStatementsof3/20/70 to 4/24/71 $17 17PittsburghNationalBank- 46Executor's compensation 3 29 20 $56 79 DB:cc -7- COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF WASHINGTON JAMES R.HOWLEY,the above named accountant,being dUly sworn according to law,deposes and says that letters testamentary were granted to him and to Pittsburgh National Bank and advertised more than six months prior to the filing hereof;that the disburse-., ments shown in the account have been made to the parties entitled thereto;that the account as stated is true and correct as he verily believes. Sworn and subscribed before me _~=::::...-_1972 Notary Public My commission expires December 9,1972 ("' \ To Pennsylvania Transfer Inheritance Tax Department, Pittsburgh Office Attention Chief Appraiser From Pittsburgh National Bank, '.7,. Co-Executor Ro~er M Howley (Account Name) Washington County (No.and Term) of the Estate of 28910-9 (Account #) The total sundry charges in re sales of the securities in the on above captioned account fxRM __~1~'~2~0~/~7~2~_ to be used as an inheritance tax deduction are $51,00 JTestateForm PETITION'SUR'AUDIT IN THE ORPHANS'COURT OF WASHINGTON COUNTY Estate of _R9.G:r;XL!'1.~B9~J~F.::¥._..__..----.-- " Deceased N 63-69-9280.___ __.___..__...._.__ __-----.---.. Fiduciary ~~t:t§J?~.~gh__.~?:tJQn..?:!...~_~~~.__.._ ...9.n51..!I9IDg.~...R..._._a.QWJ...~y....-...--.-.---.---....--------. Date of Date of Decedent's death Aug ll,.._.19.6.9.._.Grant of Letters 8.1J.g __JJL J.9.9.9.-.. This is the f.i.t:.~t g.D..~.._f.j.ng..L ___account filed in this estate If there have been former accounts filed in this estate,list file number or number and term___NQn..e.._. Election to take Under or Against will.(cross out one)None Date Election Place of; Filed ..__..__.........__....Record ..........__.. Name of surviving spouse _._.._..Robert.a...s~__Ho~l.eY_--..--..-----.--.__.__ ___.. ..__..... List issue,where material: James R.H~wley,son Susan H.Ochiltree,daughter Did decedent marry ~!ter execution of will?(jndicate)~x No.Any children born after execution of will?(indicate) ¥~No.If answer ye~,name them _ _..____._..... . . .__. ---_._-_._-..-_.-.._._-_.__-.._..~~-_.__._----_._---_.-------__----------_.._----._----_----_._-.---.-------____--__-_---------_..___-_._-----._--_---------. Legatees Roberta S.Howley Pittsburgh National Bank, Trustee under Insurance Trust Agreement dated Mar.28,1967,for Roberta S.Howley <:1 Relationship wife Interest Fiduciary,if deceased or not sui juris List,if exceptions to above: None If partial intestacy,give facts: None Adeemed:Revoked:Lapsed:Abated:Give Cause: Notice to interested parties.Have all parties,having either vested or contingent interests and all crediors entitled to notice (Court Rule No.9 paragraph C:Section 6:Subdivision c)received written notice of the filing of the account and of call of audit?Yes.bloc If any exception give cause:~~.~~._. File copy of Notice and date of mailing :r.~!:~:t7J~g~.;:..~~~~J.~~~.~.~.9~.~~y J..E?g.~t!?~. I. Is estate subject to the filing of a Federal Estate Tax Return?~~.::>. Actual payment made on Pennsylvania Transfer Inheritance Tax.Amount $~L~??..~.~.9._. If the Will makes ~ny portion of estate subject to a life-estate,give name and birth date of life tenant . .~.9.p.§.~t~f?·?9~~~Y..(Y!J~.~.I J?.9.;:n..}!:h1/J,.~~.7 ---------- Give Names and addresses of all unpaid creditors who are legally entitled to notice,together with the amounts of such claims;state whether they are admitted to be correct;and whether the claim is denied. All creditors made known to the accountants have been paid in full. Give reference to such parts of the will as require interpretation by the Court;a reference to all questions re- quiring adjudication,and a statement of any other facts deemed necessary for the preparation of the adjudication: pittsburgh National Bank,Trustee,as residuary legatee under Life Insurance Trust hereby elects to take and receive in kind all un- converted assets. Balance for distribution per account, Itemize any additional debits not shown by account: Principal 4/21/72 -Refund of overcharge (Filing .first and Final Account) Income ~_ 3/21/72 -:washi~gton Trotting Assoc., Total additional debits (A~d)9/1/71 to 3/1/72 Itemize any additional credits not shown by account: Income 5/22/72 -,Executor's compensation..":; Total additional credits (Subtract) Balance for distribution $15.00 into 6.50 $-.--..21.•.5.0.. .39 - $__..__.......•.39 . $.lQ4.,.424.•.12 . ----,'"". $.~.9.4.(.4~.?~.?.~. If balance for distribution is not in cash,list each item held in kind,giving appraised Value (or distribution Value); Stocks Howley General Tire Service,Inc.-200 shares Common $100,000.00 Bonds Washington Trotting ;Association -S.F.Sub.Deb.Reg. 6.50%,$200 due 9/1/77 Mineral -Interest 1/16th working interest in Comes Creek Lease,120 acres Norwich Towriship,McKean County,Pa. I';, ~~ " 156.00 85.00 --_.-----.---.,-_..----,'_.-.~~~'-- .. If Family Exemption clair1"!ed by Petition,give place of Record:~~.:t::~.:eP.~~~.~~.~~:. If Family Exemption is claimed at audit,give name,relationship and basis for Claim:. .None payable by reason that decedent and surviving spouse were not of the same household and the family'relationship was not maintained. List any advancement or disfribution·on account that has been made,and nature and amount of same: None Suggested distribution of balance shown,both as to principal and income,attaching signed and itemized elections to take in kind if balance is not in cosh:residuary shares being stated in proportions: To:Pittsburgh National Bank,Trustee under Insurance Trust Ag~eem~nt dated Mar.28,1967,for Roberta S• .'Howley,Residuary Trust,balance viz: 200 7.$200 ',. shares Howley General Tire Co.,Inc.,common Washjngton Trotting Association S.F.Sub Deb 6.50%due 9/1/77 1/16th w9rking interest in Comes Creek Lease, 120 ~cres Norwich Township,McKean County,Pa. $100,000.00 156.00 85.00 Cash Principal Income .',.., /JlL 1~IIIIt(T COUNTY OF.ylGl'll,SS: COMMONWEALTH OF PENNSYLVANIA. $3,780.99 423.24 4,204.23 $104,445.23 The above named Fiduciary or representative thereof, being duly ~~9.;J;'D.doth depose and say that the facts set forth in the fore~oing petition are true to the best of..hi.a knowledge and belief. .:.::J?wQx:n to and subscribed before me this 7.th day of sep t.emb.er..l l?7.2 . Signature of Officert.1~.#~~~..1~.II .;/ Title of Officer .~RGMET D.GIES.Notary Public Office expires ~.~t:.~~:?~~!I.e.~~~.~~.~~~.lJ:..~~:. My Co;nmission Expires June 7,1976 And your petitioner will ever pray,etc. .'ITlSBURGB NATIONAL IIII~....~~C."Go;dlin .~.~~~t!y~.~~..~~~.~~~~~t .~.,_. ..........................................................................................................................~.. ,-- No.63-69-928 .-# Estate of R9.g~:~.~~M.i'ngw.J:~.Y.. ..,.lj.' rl'<E:l''., .............- -••••••••.,:l\~o.-_------".-_. "_Deceased C'i t F nI1_.~.L!t 112 OCT I g Ml II 39 '1:,•-I FiduCiary...J?;t..t..~I?~gf9h..k!~}:.~.9.I}~.~._J?~Pk ;(1 ..: ..~....1.~.I}g.g.~~.I?g.'!.:..:.~9.~J..~y _ _ .'"~ RU~:SELL Mfl-nlNO REGISTER OF WILLS WASHINGTON CO .•PA. PETITION SUR AUDIT FROM WHERE D'~CEDENT LEFT A WILL..., '~J t:;.:t-t"t- ,<~ ~ ..~ ~-:~,.. ~;{~i:. 7~~~~:. "Counsel of Fiduciary will submit herewith the following,in conformity with Court Rules adopted effective December 3,1951,being rule No.9:pa rag raph b-c;and divisions thereof:shown on pages 23-24." 1.Written praecipes of all Co~nsel in the case. 2.Copy of order appointing Guardian ad litem,if pertinent. 3.Copy of Order appointing Trustee ad litem,if pertinent. 4.Proof of service of above. 5.Letters Testamentary or Administration C.T.A.or an attest copy of WiII. 6.Copy of inventory and appraisement. 7.Proof of advertisement of grant of letters if not filed with account. 8.Certificate of liens in case any of the funds for distribution are from judicial sale of real estate. 9.Signed and itemized elections if any distribution in kind. 10.Copy of Federal Estate Tax return if es- tate is subject thereto. (: (: .1 \ I.,n ~, "1 .1 •••g.~z:t}~.§...9..'!....~~.l}~.l...~~q~._....._.__..._._..... Attorney ~2 t.';,~i ,J In t4e Qtnurt nf Qtnmmnn 'leas nf ltus4iugtnn Qtnuuiy. Jennsylnaniu.~rp4ans f Qtnm iints1nn ESTATE OF Roger M.Howley deceased. N 63-69-928O.__=.£.~-L_'::::':::"_ In the matter of the First and Final Account of James R.Hwley &Pittshtu:,gh National Bauk,ExsENte!'fJ ADJUDICATION AND DECREE And now October.,19..:J..2--,this matter came on for hearing, audit and distribution at this session a d testimony taken;and thereupon,upon due consideration thereof of the balance for distribution in the hands of the Accountant is determined to be $lO!L,lslI5.23 and the account is accordingly confirmed;and it IS ordered, adjudged and decreed that the said balance be paid ,out by the Accountant in accordance with the schedule of disribution hereto attached and made part hereof,unless exceptions hereto be filed sec.reg.or an appeal be taken herefrom sec.leg. ~::g~M,- Specially Presiding SCHEDULE OF DISTRIBUTION Balance per accaunt.-,--_ Additional debit asked at audit Additional credit ash.-ed at audit Balance:_ Deduct Clerk's Costs &Receipts _ Attorney__-=Jame~!.IIis~C.ll.._"B!O!SanHl!IiieL__ 21-.2.2 $lOh,L,2b.12 $104,4h5.62 RUssell Marino,Agent,transfer inheritance tax, including tax.'!-ue on lif'eestateJ"'~;",'.';'':1:,,:'$'1171.17 Interest"from!+-1l-70 to 10-26-72 on lite' estate 138.08 Tax due on remainder interest,@ 6%,2716.04 Pittsburgh National Bank,Testamentary Trustee under Insurance Trust Agreement dated March 28 J 1967 for Roberta _S.Howley,residuary Trust,balance,inclUding the to-HoWing assets,held in kind and distributed as such at the value as shown:- 200 shares connon stook of Howley General Tire Service,Inc.at $100;000.00;$200 Bond ot Washington Trotting Association -S.F.Sub.Deb.Reg.6.50% due 9-1-77 @ $1$6.00;a lllineral interest of a 1/16 working interest in Comes Creek LeaseJ 120 acres Norwich Township,McKean County,Pe~ta @ $85.00,. No balance ,",. 0 » tfo ~ -to. m 0 :l Z CT1 In 0 9 8' 0 -+ .-("V)tl)« ."..... .C ;r -0 :;;;):l CD ISr z _J 0- -+ -J ty 3 0 0 L1.::-3=0 ....-to.-to.0 ::t::," ~ -+ ,~ ~ -+ ..::x;".co..:'~ CD,;J....~ :t. ., .::J 0 c>~ 0 ('y'"r-' -to. Ch:' ::: ....1J Ld w cD -+ r ~:: ;r if) CD I--U;, <:....'(/):J: ~ c:::;):.:)0 (/)~ 0::LLI -< C'..l C:::~ ~A_r-.- ," S~~~~ '. .,.'... .." IN THE COURT OF COJVIMON PLEAS OF WASHINGTON COUNTY,PENNA ORPHANS'COURT DIVISION J ",~ ./ INRE: Estate of ROGER M.HOWLEY, <Deceased. z<~>-IIIZZIIIII. io~BEFORE:z J:III<~ ( ) ( )No.928 of 1969 ( ) ( HEARING ON AUDIT The Honorable ALEXANDER R.CURRAN,J., Specially Presiding. .~am~.~.R.Ho'vleyand Pittsburgh National Bank and the attorney th~Court there 'a're no problems.All the papers are in or:de:r:-.Is ., is Mr:Bane.And all papers have been filed,and he has told .' The estate of Roger M.Howley.The Executors are JAMES C.BANE,.Esquire,of Washington,Pa., representing the Accou ntants . Tue.sday,September 12,1972,at 10:00 A.M.,EDST ,. .'iiia:III •t-a:~THE COURT: a: t-a: ::loU .J0( U ii:lI.o .:u~APPEARANCES: Ci .J0( !:!c ::l... :tI-:;TIME: .",( r . there anybody in Court interested in the estate of Roger M.Howle ? (NO RESPONSE) THE COURT:We 'vill consider this estate closed,subject to any proble~that may aris e before any action is taken by this Court. (AUDIT CLOSED) ''''''' t her~bl certify that the proceedings andevidenee are contained fUlly and accurately in the notes taken by me on the hea:r1ng ," " ~z~of the above cause,and.that thts copy Is a correct transcrtpt of the same•. >-!II Z ZIIIll. ZoI-"ZX!II~ ..=u.iii I-!II Q oJ <The foregotnq record of the proeeedlnm:upon the,u 1'- Q :J~bearing of the above cause is hereb~approved and directed to be fUec1 •. I::III -,~" .mlI:IIIt-lI:oR. IIIlI: l-ll::JoU oJ<Uii:ILo By the Court, ~. "'"// IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY~PENNA. ORPHANS'COURT DIVISION IN RE: ESTATE OF ROGER M.HOWLEY~ Deceased. No.63-69-928 o R D E R AND NOW",this 31st day of October:1973,it is the order of the Court that the trust created by the Estate of Roger M.Howley shall be continued to be administered by the Pittsburgh National Bank for and on behalf of Roberta S.Howley,life tenant;and upon her death,said property ,,' shall be divided in equal shares between James R.Howley and SU,zanne Ochiltree equally,all of which is in accordance with the provision of Article 1,Paragraph B.2.and B.3.a.,b.~and c of the Trust Agreement. By the Court~ TR-2 REV.il-62 I IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION ESTATE OF ROGER M.HOWLEY,DECEASED FIRST AND PARTIAL ACCOUNT OF PITTSBURGH NRTIONRL BRNK TRUSTEE UNDER IRREVOCABLE LIFE INSURANCE TRUST AGREEMENT DATED 3/28/67 FOR ROBERTA S.HOWLEY,FUND B #14457-9 PITTSBURGH,PA.JUNE 6,1973 S UMMARY SCHEDULE A PRINCIPAL -PERSONALTY Receipts Pages 3-4 154,959.97 Amount transferred from Income -Personalty 3.22 154,963 19 Disbursements Page 5 61,963 19 Balance 93,000 00 , SCHEDULE B INCOME -PERSONALTY Receipts Page 6 5,659 61 Disbursements Page 7 5,290.66 Amount transferred to Principal -Personalty 3.22 5,293 88 Balance 365 73 NET BALANCE 93,365 73 III: ROGER M.HOWLEY , TR-2-A REV.9-62 ! THE BALANCE CONSISTS OF THE FOLLOWING: PRINCIPAL -PERSONALTY Stocks: I Howley General Tire Service,Inc. 186 shares Common 93,000 00 INCOME -PERSONALTY I I Cash 365 73 93,365 73 I NOTE:Pittsburgh National Bank reserves the right to charge Trustee's compensatic ~ Attorney's fee payable to James C.Bane in the amount of $50 will be shown charged and paid in a supplement to this account. I , ~.2 .... ROGER M.HOWLEY TR-2-A REV.9-62 SCHEDULE A PRINCIPAL -PERSONALTY RECEIPTS Roger M.Howley Proceeds of the following insurance policies deposited per Terms of life insurance Trust Agreement dated 3/28/67: 1972 Jan.24 The Northwestern Mutual Life Insurance Co. ,Milwaukee,#3326881,#3397207 and #3503110 The Penn Mutual Life Insurance Co., #2-327-790,#4-129-538 and #4~264-742 Metropolitan Life Insurance Co. #21-202-653A Additional Assets Pittsburgh National Bank,Trustee under Irrevocable Life Insurance Trust Agreement of Roger M.Howley dated 3/28/67 for Roberta S.Howley,Fund A #31539-2 Cash transferred 10,173 28 18,168 82 12,556 88 10,000 00 aO,898 98 Sept.2~Pittsburgh National Bank and James R. Howley,Executors Estate of Roger M. Howley,#28910-9 Following awarded per decree dated 10/17/72 in Orphans'Court of Washington County. 200 bonds Washington Trotting Assn. S.F.Sub.Deb.Reg.6.50%due 9/1/77 156 00 200 shs.Howley General Tire Service,In.100,000 00 1/16th working interest in Comes Creek Lease,-120 acres Norwich Twp.,McKean County,Penna.85 00 Cash 3,780 .99 -3- ," ROGER M.HOWLEY TR-2-A REV.9-62 Nov.20 Pittsburgh National Bank and James R.Howl(y Executors Estate of Roger M.Howley #28910-9 Unused portion of reserve re cost of transferred securities 39 00 114,060 99 Assets Purchased Ford Motor Credit Co.Short Term Loan 9/23/69 40,000.00. 1/5/70 40,000.00 5/1/70 40,000.00 10/1/70 40,000.00 1/4/71 40,000.00 7/12/71 40,000.00 I1971 ISept.9 General Electric Co.Short Loan 40,000.00 Conversion of Assets Without Gain or Loss Proceeds sale Bord Motor Credit Co. Short Term Loan @ 100 as follows: 12/29/69 40,000.00 Carrying value 40,000.00 0 00 4/30/70 40,000.00 Carrying value 40,000.00 0 00 9/30/70 40,000.00 Carrying value 40,000.00 0 00 12/30/70 40,000.00 Carrying value 40,000.00 0 00 7/12/71 40,000.00 Carrying value 40,000.00 0 00 9/7/71 40,000.00 Carrying value 40,000.00 0 00 1971 Sept.L Proceeds sale 40,000.General Electric Co.Short Term Loan @ 100 40,000.00 Carrying value 40,000.00 0 00 0=-00 154,959 97 Amount transferred from income -personalt 3 22 i l54,9~3 19 -4- ·-. TR-2-A REV.9-62 ---------------------------------, ROGER M.HOWLEY DISBURSEMENTS 1973 Mar.1 Administrative Expenses Russell Marino,Register of Wills Court costs re estate of Roger M. Howley Distribution Pittsburgh National Bank,Trustee under Irrevocable Life Insurance Trust Agree- ment of Roger M.Howley dated 3/28/67 for Roberta S.Howley Fund A, #31539-2 Cash transferred -9/10/71 Cash transferred to fund Marital Trust 10/6/72 200 bonds Washington Trotting Assn. S.F.Sub.Deb.Reg.6.50%due 9/1/77 14 shs.Howley General Tire Service Inc. 1/6th working interest in Comes Creek Lease,120 acres Norwich Twp.McKean County,Pa. Pittsburgh National Bank and James R. Howley,Executors Estate of Roger M. Howley,#28910-9 Cash transferred 1/24/72 -5- 40,898 98 3,743 71 156 00 7,000 00 85 00 10,000 00 79 50 61,883 69 61,963 19 ------------------------------------------ )...., ROGER M.HOWLEY TR-2-A REV.9-6~ SCHEDULE B INCOME -PERSONALTY RECEIPTS Pittsburgh National Bank and James R. Howley,Executors Estate of Roger M. Howley,#28910-9 Income cash awarded per decree dated 9/7/72 in Orphans'Court of Wa~hington ~County 423 24 Interest -Short Term Investments I Ford Motor Credit Co.Short TermtLoan I 40,000 -12/29/69 877 27 I40,000 -to 4/30/70 1,027 25 40,000 -to 9/30/70 1,282 16 40,000 -to 12/30/70 634 30 40,000 -to 7/12/71 1,017 08 40,000 -to 9/7/71 366 68 General Electric Co.Short Term Loan 40,000 -to 9/13/71 25 13 5,229 87 Interest -Bonds I IWashingtonTrottingAssn.S.F.Sub.Deb. Reg.6.50% 200 -3/1/72 to 9/1/72 6 50 5,659 61 -6..- i I TR-2-A REV,9-62 GCP ROGER M.HOWLEY DISBURSEMENTS Pennsylvania Department of Revenue 1971 Pennsylvania Fiduciary Income Tax 4/12/72 Fee for preparation and filing of 1971 Pennsylvania Fiduciary Income Tax Return 12/4/72 Trustees Compensation On principal 2/0 of 1%on appraised value 1/29/71 to 1/31/73 On income Distribution J.H.Offutt Co. Frigidaire washer for RobermS.Howley 5/10/71 Pittsburgh National Bank,Trustee under Irrevocable Life Insurance Trust Ag,reement of Roger M.Howl ey dated 3/28/67 for Roberta S.Howley,Fund A, #31539-2 Cash transferred -9/10/71 Roberta S.Howley Reimbursement for cost of new refrigeratcr 4/14/70 Income distribution per terms of agreement 4/28/70 to 8/31/71 Amount transferred to Principal - Personalty -7- 1 98 20 00 143 85 314 18 249 10 376 55 285 PO 3,900 00 480 01 I 4,810 65 5,290 66 3 22 5,293 88 --O.ver -Reporter WASHINGTON,PENNSYLVANIA PROOF OF PUBLICATION Sworn to and In compliance with the News,paper Advertising Act of 16 May,1929, P.L.1784,as amended. Commonwealth of Pennsylvania,County of Washington,SS:.EX'E:r:C;;::U;;;T==--- Personally appeared before me,a Notary Public in and for said County Estate of ROaRS'NfDTICE--deceased late GER M.HOWLEY I and State,Ri.<:Jl.~.r..(:t..~.~g.().~~.Il ,who being duly sworn 111lf~~1:er~OU~~t}e~~~~le~~~~:Wash: Secretarv ,"!poy,.estate hom~tary upon theaccordingtolaw,deposes and says that he is the ~./...--............to thp undersl',.vmg been granted of the Observer PUblishing Company,a Pennsylvania corporation,and its mg claims a::;;~~'t ~~persons hav.' agent in this behalf;that the said Company is the owner and publisher of ;reqUested to make k e estate are the Observer-Reporter,successor to The Washington Observer,established ,to the undersigned ~own the samei Septembe<r 18,1871,and The Washington Reporter,established August 15,~~El~I1a~:r~~~~ei~~~b~eSI~o~~~J:~e:.1 1808,a daily newspaper of general circulation,printed and published and ment to the d 0 make p,gy h ' . I f b . W h't UT h't C t P I ,delay.un ersigned withoutlavmgItspace0usmessatas,mg on,vvas mg on oun y,ennsy·JAMES vania,where it or its predecessors have been established and published 307 Was~ng~OWLEY I continuously for more Wan six months prior to the publication of the notice Washington,.P~nn~u~~Bldg,I hereto attached;that the printed notice or advertisement hereto attached 'rr~T'WBURGH NATIOJ~BAN is a copy of an official advertisement,official notice,legal notice or legal Pittsb~~~hSt~cet K advertisement,exactly as printed or published in the Ob£lerver-Reporter in 'JA~~~C~:i~~:~a.1,Ii230 I its regular editions on the following date or dates;IU:,:ashington Trust Bid" ..............Se.-P..t.~mQ~~),.~..,?~..~I.l.4.9<:.t.~1'.~~?L.!.~~.?L:s m~on.Penna.l~~~tt.~hurs.•;n that neithe'r th!e affiant nor the Observer Publishing Company is interested ....... in the subject matter of said notice or advertising and that all of the all-ega- tions of this affidavit as to the time,place and 'characterof publication are tru'e.....ffl~..·/.~. "b",9tI;~:;:~~ge£9 WASHINGTON,WASHINGTON COUNTY MY COMMISSION EXPIRES MAY 6.1972 ·.f· J7 ....;rr~y7/0-7- Washington Comly Reports Washington,Pennsylvania (PUBLISHED BY WASHINGTON COUNTY BAR ASSOCIATION) PROOF OF PUBLICATION In compliance with the Newspaper Advertising Act of May 16,1929, P.L.1784 Sec.3,paragraphs (3)and (25). COUNTY OF WASHINGTON}SS. STATE OF PENNSYLVANIA Personally appeared before me,a Notary Public in and for said County and Commonwealth,CHARLES C.KELLER,who,being duly sworn,deposes and says:that he is the Editor of the WASHINGTON COUNTY REPORTS, the officiaJ1 legal periodical for said Washington County,published weekly hav,ing its place of business at Washington,Washington County,Pennsylvania, and is acting as its agent in this behalf;that the said WASHINGTON COUNTY REPORTS,was established on March 31,1920,and was designated as the official legal publication for W'ashington County,Pennsylvania,by order of the several courts of said County,dated November 11,1920;that the printed notice or advertisement attached hereto is a copy of a notice or advertisement, exactly 'as printed or published,which appeared in the said legal periodical in its regular issues on the following dates: ..............Se.p.t.embex 18.•....2S 19..6.9.. ..............Oc.teheJ:.a 19.6.9.. that the affiant or the corporation in behalf of whioh he is acting is not interested in the subject matter of said notice or advertising and that all of the ~~~of th~::(Q"~d.cl='~'01 th,~Ik.tioo Sworn to and ubscribed before me this .....28d.;..}ay of ?.c.t.b.er ,19 69.. .:~;~:~~ Washington,Washingt9n CQ.,P&. My Commission Expll'9l N.vember 1,1969 Estate .es TheWgister of Wins has granted letters,testamentary or of administration, in the following estates.Notice is hereby given to all persons indebted thereto to make payment without delay and to those having claims or demands to present them for settlement to the Executors or Administrators or their Attorneys. •• •••• ••••••• • ••• HOWLEY.ROGER M..Dec'd. Late of Washington,WashingtonCounty,Penna. Executors:James R.Howley,307 Washington Trust Bldg"Washing-ton,Penna.15301,Pittsburgh Nation-al Bank,414 Wood St.,Pittsburgh,Pa.15230 . Attorney:JamesC",Bane.307 wash-ington Trust Bldg.,Washington,Pa.15301 ~,--:::'>., I J"~•..,,...{.•,. IN THE COURT OF COMMON PLEAS OF WA$HINGTONCOUNTY,PENN 'i. ORPHANS1'C0UR't DIV;rsIONIJ ; ,,~*;\.~-~; INRE:( ,)' ,Estate of ( \ )'''."ROGER M.HOWLEY,(e Deceased.) ( NO.63-69-928 .HEARING ON AUDIT Thursday,Sep.tember 13,1973',at 10:90 A.M.,EDST THE HONORABLE PAUL A.SIMMONS,Judge of the said Court.. 0( z 0("~>-IIIZ ,.Z ldII. i BEFORE:oI- elz· :tIII0(~ t "APPEARANCES:JAMES C.BANE,Esquire,of Washington,Pa., ~,representing the Accountant. 5 JON F.NIVUS,ESQ.,of Pittsburgh,Pa.,representi g ,'~the,widow,Roberta S.Howley.and James Howley,son. u o ~TIME: :tl-I'-III papers,this being a trust estate. that is to be decided by the Court. MR.BANE: "1 iiill:ld~THE COURT:oII.ld ll: l-ll: ::JoU .J0( uii:11.,o The next estate is the estate of Roger M.HowlEIY. If 'the Court please,Ihave all of the necessary Th~rehas beena question raise~ I have with me Mr.Riley,ViCE President of Pittsburgh National Bank,who is thovoughly fam~liar with the whole thing,and I should ask the Court's permission for him to explain to the Court.Also,I have here Mr.Nivus,who is an attorney from Pittsburgh -w.h(j»)represents two of the heirs in this estate., '.. THE'COURT: MR.NIVUS: What is your firm again? Lynch,Lynch &Carr. i.~:.2 THE COURT:Who do you represent,Mr.Nivus? MR.NIVUS:I represent the widow,R~bertaHowley,and the ;.~.one son,Jim,James ,Howley., MR.RILEY:I am the trust offic~rlforPittsburghNational Bank.Robert J:Riley'-" MR.RILEY:The ,other party;in,,~nt~,r~st is!subjoct to an' {+;t.•"c .,'t . .4 !"~~~ 'opposite conclusion that he was given notice and did not wish to apr ear . I' •t', It's a question of interprelLationnotantagonistic. 1t'.• "'/),f .•.••.t '.',..i ,~f !f J }.~,f~""~1<r , Has she been advised she should have ail attorn y? Mrs.Ochiltree.She is a daughter of Roger Ho'li ley. 1 ..". She's been advised of all this., No. Is that party represented by c a.msel ? Who is this party? It's Wlio is representing the other interests? " ,,;*.;-(".It",.•I represent the bank.t~';" '.,.'tJ ~I of (~ f'f 't "',";of ~~...to·,r ttl ~# -~"••,t C.-Ahd!yoG\,ar~~ntalgon~stic;.t9.;:th~'b~~~'""',,' of.the Will. MR.RILEY: MR.RILEY: MR.RILEY: THE COURT: THE COURT: MR.NIVUS: MR.BANE: .. THE COURT·: THE COURT: ,THE COURT: «z«>.J>-III ZZIIIDo i0I-.(,? Z XIII.«:= ~u II:I-III a .J:5uc':J.., :tl-I'-N ,. ltiII:IIIl-II:0ll.IIIII: l-II: :J0U .J« uii:II. 0 " \{ MR.NIVUS:If the Court please,I also talked to her and explained to her there is a conflict between her and mother and brc ther, and she should get an attorney if s.he wished to be represented. THE COURT:Mr.Bane,I'd appreciate it if 'you would write her another letter. ;~. MR.BANE:We sent her a letter,advising her of it.'I will ~.. •1r .~#"!~• write and 't~ll'her what happens'here this ,'inor:ning:;,/,'1 :'~: ...f~'.\..~(......,.f',,j',.'.,'~:-~~ II 3 j} a hearing on this matter on'th~3i,st ..da:;>9f'9ctob~er at 10:00 o'clock. •...•.J'• .. THE COURT:And I'd like you to advise her that we are having ,. W~iU tbe:r.e be testimony taken at this time,or wiV 'this be'strictly ..•'....••t·I.!., •of:'I"lt •l.t ~f I ;'~; $"\I j ,:.'!It:!j.~~ a legal problem? purely briefs and oral arg,uments. I'd appreciate if the briefs were in by October 22nd.That's Vetera s 0( z MR.NIVUS:0( ~>-I/)z Z Ill'a. .i THE COURT: oI-. Clz. I cannot i£.oresee any testimony.I think it's Let's have briefs ready,and we will have argun ents. ..:u a:l-I/) ii ..J~ Uo . :J.., :I:I-"N Day,but say'by the 23rd of Octobe~!have briefs in.'In the mean time,I'd appreCiate it if you would send this lady,Mrs.Ochiltree, a letter,saying that there w ill be a hearing,that the Court advises ! her that she should be repr~sented by counsel,and that the briefs of her couns el should be in no late:!;'than the 23rd of October. I think you ought tomake that a certified letter to her"b'ecause I thought it was the 22nd. I changed that because the 22nd is Veterans Day. .. ,we want.to make certain she is represented,or if she is n't repres nted, uiII:III tl:'MR~~BANE':J :oa.III~·THE COURT:II: :JoU ..J0( u ii:...o that sheknows she could have been.Any other problems here? At this time,we will announce this estate,the estate of Roger M. Howley.. MR.ZERMANI:Your Honor,I received no response.. THE COURT:Is there anybody els e in the Courtroom interested' ."....".~ ,.''',j'"I~~.I ~l ."4i, in the estate of Roger M.Howley? (NO RESPO~SE) THE COURT:Hearing no response,the Court again announce that there wi}l be a heating on this matter on October·31st,Wedn sday,.~,. 1973.Briefs are to be in by October 23rd.And that will ,-Close thi 0( z 0(>oJ>-UlZ ZIdD. ioI-,~ :I:Ul 0(,~. ..=o It~o oJ0( oo:J., :t..,.. (II out for the time be ing. *****.** ***** , uiIt Id~I hereby certify that the'proceedings and evidence are D.Id It ~contained fully and accurately in the notes taken by rr:te on the,hearing of :Jo~the above causE;~and that this copy"'a correct transcript of the same. Uii:II.o The foregoing reco d f the proceedings upon the hearing of the above cau.se is hereby approved and directed to be filed. By the Court, .. ~n t4t Qtuurt uf Qtummnn 'ltnn nf IInn4iUDtnn QtnutdYf 'tnnnylnnnin <Orp4nnnf arUurt iittininn j ESTATE OF No._...::6.=..3.....:-6:..::9_-.:..;92=.::8:.....-_ Roger M.Howley. Deceased In the matter of the First and Partial Accountof Pittsb~rgh National Bank.Trustee for Robert S.Howley Fund B ADJUDICATION AND DECREE An now March r,19~,this matter came on for hearing, audit and distribution of this session and testimony token;and thereupon,upon due consideration therea>g ~6tCe8balance for distribution in the hands of the Accountant is determined to be $•.•4 and the account is accordingly confirmed;and it is ordered, adjudged and decreed that the said balance be paid out by the Accountant in accordance with the schedule of distribution hereto attached and mode a part hereof,unless exceptions hereto,be filed s~c.reg.or an appeal be taken herefrom sec.leg. ~=t?~~r J. SCHEDULE OF DISTRIBUTION Balance per atcount ·1 Additional Credits -Audit $4,098.89 Balance'1 Deduct Clerk's Costs &Receipts.__&_A_d_v_e_l!_t_is_i_n-'g:<...1 Attorney__._-..:J~·am=e::.:s~C~.-,B~a~n~e=---.1 87.00 $89,2Q6.84 89,179.84 Clerk of the Orphans'Court -Filing fee,court order dated October 31,1973 2.50 Pittsburgh National Bank,Trustee under Insurance Trust Agreement of Roger ¥.Howley dated Marcy 28.1967 for further administration in accordance with Order of Court dated October 31.1973 -Residue including 186 sbs. Howley General Tire Service,Inc.89,177.34 NO BALANCE • Z 9 )-n.n·0l::J.....o-h J••: C'l ,;"''''~.,.~ 4~--1 0...--1 ;---," --~E (J)== J,.J _--"'-:l::<i::: >!......,r-... j "..\-:. ..-'\... ..-.,.., <. '.':7:':'/:;.-,v;••.r'J-~../I i ~. ,,(1)'-''0;''••!:'..<_~-_.•'\..1"".-"...!".'..",-..~ ....:...MlL.;;;-....e=ma.:ao>\~"~.:=:~._<.",..",~.-,."..;.~~~.",..;,.....,.......,",,,,~_....,.,.~~.;.,,,:....~"~_.~'~~~~';~'~~""';"'~~'_;~"~«':~;'.ir",",:"'j/-.! .,,',". REVOCABLE LIFE INSURANCE TRUST AGREEMENT .' illIS AGREEHENT,enteree into this -7Jf day 0:4~r.19 b7 by and between ROGER M.HOWLEY of Allegheny County,Pennsylvania,(here- inafter referred to as the."INSURED")and PITTSBURGH NATIONAL BANK,of Pittsburgh,Allegheny County,Pennsylvania,(hereinafter referred to as ·the "TRUSTEE"); WIT NE SSE T H: WHEREAS,the policies of life and/oraccident insurance issued ,"on the life of the Insured which are listed on the attached schedule "A",' are to be made either directly or contingently payable'to and may be de- posi~ed with the Trustee; '".~.NOW,THEREFORE,THE PARTIES HERETO AGREE that at the death of.. the'Insured,or 'at such other time or times thereafter as may.be provided in the aforementioned policies,the Trustee shall collect the total amount \ of insurance then payable to it as Trustee hereunder and the Trustee shall hold the amount so collected,together.with any other property received by .it from the Insured's estate or from any other source,either then or there- after,upon the following trusts. ARTICLE I.TRUSTS. If the Insured's wife,ROBERTA S.HOWLEY,survives the Insured, the Trustee shall hold in Trust as the Marital'Trust such amount of the --,~.--"--___._.".,.--:'.,,,,.....---_~.'..•.~_:.,..__;__~..,_.-:.,~~.",."._.•••_._.,0. "-~.' M ..,,~~-.,-c,-.~-..-,_.-.-.~-.-.-...-.,..-,._-,~-::...,;J ... .;.... '.' property in its hands,.as when added to any property which may be receivable· and designated for the Marital Trust under the Insured's Last Will and Testament,will afford the Insured's estate the maximum allowable marital de~uction under Federal Estate Tax Laws when ~his property i;considered with any and all other property of the Insured passing,o~·which has passed to his wife under the terms of his Will or under the terms of this Agreement or·otherwise,and which other property is included in the'marital deduction allowe~his estate.The Trustee shall exclude from this amount any assets which do not qualify for the marital deduction•. The Trustee shall hold in trust'as the Residuary Trust any and all other ·property in its hands not held in the Marital Trust,together with any property which may be re.ceivable and designated for the Residuary Trust under the provisions of the Insured's Will. In making this division between the Marital Trust and the Residuary Trust,the Trustee shall allocate to the Residuary Trust the .Insured's business known as HOWLEY GENERAL TIRE,INC.including any'stock in said company,if the same is then held as an asset of the ·trust estate; provided,however,that such allocation does not affect the size or validity of the Marital Trust. In the event the Insured's wife and the Insured die either simul- taneously or under circumstances which do not afford sufficient evidence as to who was the survivor,i~is the Insured's intention that it be presumed .that his wife survived him. \ j I A.1.The Trustee shall pay the net income from the Marital -2- ..,_:'. .. ..'". ..'··<".~r~H:'" .... .--,-.--_...·i. Trust to the insured's wife,ROBERTA S.HOWLEY,or for her benefit,in install-. ments convenient to her but not less frequently than annually for and during her lifetime.During her lifetime,the Insured's wife shall have the right t.o withdraw and consume,dem~nd and receive all or any part of the principal ::. of the Marita!Trust.In addition to the foregoing provisions,in the event ·of the incapacity of the Insured's wife through illness or otherwise,the Trustee is authorized to disburse to her,or for her benefit,so much of the principal of the Marital Trust as the Trustee,in its sole discretion, shali deem advisable for her comfort,maintenance,support and to aid her in the event of any circumstance or condition affecting her wherein money is needed. 2.upon the death of the Insfired's wife,the Trustee shall pay and distribute the then remaining principal of the Marital Trust as the ·Insured's.wife shall appoint and direct by specific reference to thisgen- ·eral power of appointment in.her Last Will.and.Testament,whether-to herself, ·her estate,.her creditors,the creditors of her estate or otherwise••In default of such appointment or direction by the Insured's wife in her Last Will and Testament,the Trustee shall add the then remaining principal of the Marital Trust to the Residuary Trust and such amount so added shall be held in trust'and/or distributed as if it had constituted an original part of the Residuary Trust. B.The principal of the Residuary Trust shall be held and/or distributed as follows: 1.a.If the Insured's business known as HOWLEY GENERAL TIRE, /INC.inc~uding the stock of said business has been sold,the Trustee shall 0. -3- _...._~I;'i•.,__~.',.,~.-"...~.:~ .•.r,.:/. / / .. -,, ,. '~-.- set aside in separate trust for the Insufed's daughter,:SUZANNE HOWLEY OCHILTREE, such an amount as will equal the price for which said business was sold,and the ,Trustee shall pay the net income from such separate trust to or for the benefit of the Insured's said daughter in quarter-annual installments,.for_ and during her lifetime,together with 'so much of the principal thereof as the Trustee,in its sole discretion,deems advisable,for her health,main- tenance and support. Notwithstanding the foregoing provisions,as and when the Insured's daughter,SUZANNE HOwLEy OCHILTREE,attains the age of thirty (30)years,or at any time thereafter,she shall have the right to withdraw one-half (1/2)of the then remaining principal of this separate trust,absolutely and free of trust;and as and when the Insured's said daughter attains the age of.thirty-five (35)years,or at any time thereafter,she' shall have the right to withdraw any and all balance of the then remaining principal of this separate trust,absolutely and free of trust. b.In the event the Insured's dal;1ghter,SUZANNE HOWLEY ~CHILTREE,dies during the continuance of this separate trust for her bene- fit,or is not living at the time for the creation thereof,the then remaining principal of such separate trust shall be distributed to the then living issue of the Insured's,said daughter;per stirpes and absolutely,subject,however,.- to the minority provisions hereinafter set·forth,or in default of issue then surviving the Insured's said daughter,'the same shall be added to the balance of the principal of the Residuary Trust to be held and/or distributed in accordance with the provisions of Paragraph 2.below and all subparagraphs thereunder. 2~The balance of the principal of the Residuary Trust or -4- , I ,'.~.."--.~.1 v.• o .--._.._~-....-¥..--~.._~....-.._,-...._.--._-_.-~-",_.~.,--.,.,".~..-. ," the entire principal of the Residuary Trust in the event the Insured's aforedescribed business has not been sold (hereinafter referred to as the ,Residuary Trust)shall be held for the use and benefit of the Insured's wife, ROBERTA S.HOWLEY,and the Trustee shall pay.to her,or for her benefit, the net income therefrom,in installments convenient to her,but not less frequently than annually.for and during her lifetime together with so much of the principal thereof as the Trustee,in its sole discretion, deems.advisable,for her health,maintenance and support. Notwithstanding the foregoing provisions and in addition 'thereto,in'the event the Insured's business known as HOWLEY GENERAL TIRE,INC. including the stock of said business forms a part of the Residuary Trust and is sold during the continuance of this trust for the Insured's wife,the net proceeds from said sale shall beset aside from the Residuary Trust and "held in a separate trust for the Insured's daughter,SUZANNE HOWLEY OCHILTREE, in accordance with the provisions of Paragraph 1.a.and b.above. \ 3.Upon the 4eath of the Insured's wife,ROBERTA S.HOWLEY, during the continuance of this trust for her benefit,or upon the Insured's death in the event his wife fails to survive him,the principal of the Resid- uary Trust as it is then constituted,shall be divided between the Insured's ,Y .'daughter,SUZANNE HOWLEY OCHILTREE,and'the Insured's son,JAMES R.HOWLEY, in such manner that the share passing to the Insured's daughter when considered ,with the initial value of any separate trust created hereunder for her will equal the share passing to-the Insured's son when considered with the pro- ceeds of any life insurance policy owned by the Insured on his life which was payable to the Insured's son;'it being the Insured's desire to treat his children as nearly equally as possible.Each such share shall be held and/or distributed as follows: -5- 'II 1 1!, I1 j I ..' " ~,',.;..--..._---"'~'~'~~'".-. '. a.The share thus created for the Insured's daughter; SUZANNE HOWLEY OCHILTREE,shall be added to any separate trust previously created for her to be held and/ordistributed 'as provided therein,and in the event there is no such trust then being held for the Insured's daughter, the same shall be held in separate trust and/or distributed to her in accordance with the provisions of Paragraph B.1.a.and b.above. b.The share thus created for the Insured's son, JAMES R.HOWLEY,shall be distributed to him,absolutely and free of trust, provided,however,in the event he has not attained the age ofthirty-fi~e (35)years,the same shall be held in separate trust for .hUn in the same.. ~nnerand subject to the same terms and conditi~ns as provided for the Insured's daughter under the provisions of Paragraph B.1.a.and'b.above, provid!d,however,that any and all reference ~herein to the Insured's daughter shall be amended to refer to the Insured's son. "~.In the event either child of the Insured is not living at the death of the survi~or of the Insured and the Insured's wife, .the share otherwise created for such child in accordance with the provisions of Paragraph 3.above,shall be distributed to his or her then living issue, per stirpes and absolutely,subject,however,to the minority provisions hereinafter set forth,or in default of issue then surviving such deceased child,the same shall be added to the share created for the Insured's other aforeriamed child or his or her issue as the case may be,to be held and/or· distributed as though an origina"l pattthereof. c.If,at the tUne distribution is to be made hereunder in accordance with the foregoi!1g provisions,none of the persons named or -6- • .;!:i:,;.,_~':'t . !'C,..,;;,.:...__.~__'.,,~.,"~.".~.',........'":-'."".;~•., ...... I'"~ .,.~<"'!'i~!:-·~·f":·,~..'..~., i, Intestate Laws of the Commonwealth of Pennsylvania in effect at the time of the Insured's death. described ab~veis living to take the principal of the Residuary Trust,the then remaining principal of the Residuary Trust shall be distributed to the Insured's then living heirs and next of kin in accordance with the " ~---- ARTICLE II.TERMS AND CONDITIONS. II I, fItiII[ tII " .. A.While in the hands of the Trustee,neither the principal nor the income of the Marital Trust and/or Residuary Trust shall be liable for the debts of any beneficiary hereunder,nor shall the same be subject to seizure or attachment by any creditor of-any b~neficiary under any writ or proceeding at law'or in equity,and no be~eficiary hereunder shall have any power to sell,assign,encumber,or in any.manner to anticipate or dispose of his or her interest in the Marital Trust and/or Residuary Trust or in the income produced thereby. B.If any beneficiar)t who is entitled to receive a share of the principal of the trust estate shall be a minor,the Trustee is hereby authorized and empowered to continue to hold and manage such share for the benefit of such minor during his or her minority,and the,Trustee may accumulate 'all or any part of the income from such minor's share or pay so much thereof, together with such,amounts of the principal.of his or her share of the trust estate as it shall deem proper for his or her education,maintenance and .. welfare.In the disbursement of funds directed to be paid to or for the use and benefit of any beneficiary who shall be a minor,the Trustee may make~ payment of the same to the parent,guardian or such other person as may have .custody of the person of the minor at the time such payments are made,to • -7- ,.-,~_.._.-~"~. ~, -".. ,".-,.-,\ .'J be used for the education,maintenance and welfare of such minor,but without liability on the part of the Trustee to see to the application of said payments by the payee,and the receipt of any such person shall be a full acquittance of the Trustee as to any amounts so paid,or the Trustee may make payment of the same directly,to or for the benefit of such minor beneficiary.This \ shall be construed as a power only and shall not operate tO,suspend the absolute ownership thereof by such minor nor to prevent the absolute vesting thereof in such minor.' :t~1 1...jl.[ IIiIIIi IIl I! II!!I ARTICLE III.IN ADDITION TO THE POWERS CONFERRED BY LAW,THE 'TRUSTEE SHALL HAVE THE FOLLOWING DISCRETIONARy'POWERS: A.To retain as 'an investment for the trust estate, without any duty of diversification,any and 'all property,real or personal received'by the Trustee,which shall specifically include the aut~ority to retain any ,stock received by it hereunder in PITTSBURGH NATIONAL BANK. B.To invest and reinvest the principal of the trust estate,together with any income accumulated thereon,in such stocks,bonds, mortgages,securities or other property,real or personal,as it may believe advisable,without being limited to the classes of securities or investments in which trustees are authorized by law to invest trust funds. ,c.To sell any and all real estate held as a trust asset, at such times,at public or private~sale,for such prices and upon such terms as it shall believe advisable,and to make,execute and deliver any deed or deeds therefor,conveying title thereto in fee simple absolute,or -8- f'~.-~-;'-- any and all trusts hereunder. .for any less estate to any purchaser or purchasers, ~) freed and discharged of "," .. .'."",-~--"~--,----,,,,,..---------.-'.__..-'"-....,..-.-~.~--1_.---:',....,;,",.-'",......:,....~.-"-...,.;....~.......---., D.·To sell,exchange,lease,encumber,op~ion or othe~ise dispose of all or any portion of the trust estate in such manner and upon ·such terms and conditions as it shall believe advisable,and to make,execute and deliver deeds,mortgages,leases,assignments an~other documents necessary to effect any of the powers gr~ted the Trustee and which shall specifically include the authority to grant leases which extend beyond the term of any trust hereunder and beyond the period authorized by law. B.To make distribution of the trust estate to any person 'entitled thereto in kind,in cash,or partly in kind and partly in cash,as it shall believe advisable. F.To purchase as an investment for the trust estate any securities or other property,real or personal,belonging to the estate of the'.Insured,and to hold the same for such period of time as the Trustee believes advisable,without liability for any depreciation in the value thereof,or, in its discretion,to make loans,secured or unsecured,to the Insured's estate without liability for the nonpayment thereof;provided,however,that in no event shall the proceeds of any qualified Employee.Benefit Plan payable to the Trustee hereunder be made available for such purposes. , ··1·····.·'···· '.\ ..' ,,'- 'G.To register or carry any investments held by it hereunder in its own name or in the name of a nominee or nominees;,provid~d,however, that all such investments shall be so designated ·upon the records of the Trustee that the trust to which said investments belong shall appear clearly at all times. -9- -c' -""~.'''''''''''''''''''''~'._.''------''._''-.-:--::--'''~~. ( -----~.._---.-...-._:. / o H.To vote by person or proxy any and nll stock t.cld in the 'trust estate and to participate in any reorganizatio~or merger of companies' or corporations whose stock is held in the trust estate. I.To borrow money for the purpose of the trust from any source,which shall include the authority to borrow from any separate trust hereunder and as security for repayment to hold or piedge the whole or any part of the trust estate. J.To pay from the principal of the Residuary Trust,if the Insured's Executor is unable to comply with the dire~tion to pay such taxes from the residue of the Insured's testamentary ~state,any Federal Estate, State Inh~ritance,or Estate arid Succession Taxes.imposed upon or with respect 'to the Insured's estate passing under the ~nsured's Will or otherwise, at such time or times as it deems advisable,and no such tax 'so paid shall be collected from any beneficiary hereunder or under the Insured's Will by way of apportionment or proration;provided,however,that in no event shall the proceeds of any qualified Employee Ben~fit Plan payable to the Trustee hereunder be made available for such purposes. K.~o ·continue to operate,so long as·the Trustee deems advisable,any business or business interest which the Trustee may receive from the Insured's Executor and to retain the same in kind so long as it deems advisable as an asset of the trust estate.The Trustee shall be entitled to adequate and reasonable co~pensation for its services in connection with the operation of any such business or business interest in addition to the compensation usually awarded to trustees in connection with the administration -10- j. ..«. ",..~.- () ,. ,.:-:-~~-.--__...~.:_._,-'0:'.--.'.-.~-.,,~~-"'~"''''''-'~':,,-,_._,--.~'-..,"--'--'-~-'-''';'--:-~ best interest of the trust estate.As and when the Trustee deems it advisable, as the-Trustee deems advisable.The Trustee isauthori~ed to borrow from the any such business or business interest may be sold or liquidated upon such terms and conditions and to such person or persons,corporation or corporations I-I I1r, rI 1: .1.t, tIi j -;he Trustee may incorpor~te such business if it deems it in the money or moneys the Trustee deems advisable for the best interest of the be without liability for any loss arising from ~roccasioned by the retention, operation and/or sale or liquidation of such business or business interest. Insured's estate,from the-trust estate or from any other source,whatever Insured's business or business interest or the trust estate.The Trustee shall of trust estates.During the time that any such business 'or business interest is so operated,the Trustee is authorize.d to delegate to any person or persons it deems advisable the full responsibility for the management and operation of ,the business./ ARTICLE IV.It is agreed that the Trustee shall in noway be bound to pay the premiums on any policy or policies payable her~under nor to see that any such policy or policies are kept in force,its.obligation regarding the policies during the Insured's lifetime being confined to the safekeeping thereof. ARTICLE V.A.The Insured reserves the right during his lifetime to revoke this trust at any time upon delivery to the Trustee of an instrument in writing setting forth such revocation and in addition,the Insured retains the right to alter or amend this trust at·any time by an. instrument in writing accepted by the Trustee. B.All benefits,privileges and options accruing or available under any of said insurance policies prio;to the death of the -11- L· .-----_...,.._.,....~...- .. Insured,including any right reserved in any of .said policies to th~Insured "to change the beneficiary thereunder,to convert the said policies into other forms of policies,to borrow in accordance.with the terms of said policies,to pledge,hypothecate,sell or assign the same or any of them;and to receive and collect·all dividends and other payments,and the proceeds of maturing policies shall be for the sole benefit of the Insured and shall not be subject to this trust.If the Insured changes the beneficiary under any of said policies or surrenders any such policy for its cash surrender value,such act shall have the effect of revoking this trust with respect to the polley or policies so cbanged or surrendered. c.It is also expressly understood and agreed that any or all of the policies deposited under the terms of this agreement maybe assigned by the Insured for the purpose of obtaining'a loan on the said policy or policies,and that upon the Insured's request,the Trustee, as benefi~iary named in any or all policies deposited hereunder,may join in such assignment to any individual,partnership,corporation or association, and in so doing shall not by reason of such joinder in any way·be or become liable to any person interested hereunder. D.Upon receipt of written request from the Insured,the Trustee shall be bound to deliver to the Insured any policies in its possession and to reassign to the Insured any policies theretofore assigned to it.• .E.The Insured at any time shall have the right -12- \ --..",-.;--~.._~~.........~....,_.- '.~ :'...' ~".' ·_.; ·.1 .::......- ,. ._-----.-~_.._~....,...~ to include within this Agreement additional policies of life andl_or accid~nt insurance. ARTICLE VI.The payment by an insurance-company of the proceeds of any policy of insurance to the Trustee shall be a full discharge of said insurance company on account of such policy,and such insurance company shall in rio respect be responsible for the proper discharge of the trust or any part thereof. ARTICLE VII.The Trustee shall be responsible for the proceeds t--,---"~ of the policies only as,if and When paid to ~he Trustee a and the Trustee.. -shall not be liable to anyone if for any reason the policies,o~any of them, shall lapse or otherwise be uncollectible.Except at its-own option,the Trustee shall not enter into or maintain any litigation to enforce payment of the policies,or any of them,until it shall have been indemnified to its -.satisfaction against all expenses and liabilities to which it may in its judgment be subject by such action on its part,but the Trustee may utilize the proceeds of any policy to meet expenses incurred in connection with enforcing payment of any other policy. ARTICLE VIII.During the lifetime of the Insured,unless and until the trust receives assets for investment,the Trustee shall receive no compensation for its services hereunder.Followin&the Insured's death; or upon receipt of assets for investment,the Trustee shall be entitled to -13- .~'.;..,.-~.,~".,. ..,; ~..' .."'.... • • •~.,:.•"-.•~.~-'••-<"'.',•.,'-,~--'...........__.-.....,.....,....,,...~..---....' deduct as compensation for its services hereunder a reasonable fee,which. fee shall be in accordance with the then prevailing rate of compensation charged by the Trustee for like services;"provided,how~ver,the Trustee's compensation shall be no less than One Hundred ($100.00)Dollars per annum. IN WITNESS WHEREOF,the Insured has hereunto set his hand "and seal and the Trustee has caused this Agreement to be Executed by its duly authorized officers and its corporate seal to be hereunto affixed as of the day and year first above written. WITNESS: ATTEST: -14- TRUSTEE: PITTSBURGH NATIONAL BANK Vice President .."-~-".•..,,,.-~. i.~, .""! ." SCHEDULE "A" ROGER M.HOWLEY NUMBER OF POLICY NAME OF COHPANY AMOUNT 21202653-A Metropolitan Life Insurance 12,500 ,- 4264742 Penn'Mutual Life Insurance 5,000 4129538 II II II'II 10,000 2327790 II 11 11 II 3,000 3503110 Northwestern Mutual Life 2,545 3397207 II II II 5,000 3326881 11 II II .5,000 .-,....... 1 :~:,.. 1 .11 ..••••.•. ~;..;~ I'.• I'_. .~:\..~.... I.;1'I i- F o-r,, '-I; -----_.- .. -'..' ,!~..::'i::<,;;:.t~.i::~.."..#......_. .... -----.-~..._-_.._......_-----_......~--~--~~.~_.. " ,- /. I. PLAN AND AGREEMENT FOR SALE OF BUSINESS ASSETS WITNESSETH this Plan and Agreement,made the day--- of May,1973 8 between HO\{LEY GENERAL TIRE SERVICE,INC.,a Pennsyl- ;.::vania Corporation of 214 South Main Street,Washington,Pennsyl-,. I !vania (hereinafter called "Sellerll ),and DISCOUNT TIRE CENTER,INC.,•~f !:a Pennsylvania corporation of 336 Main Street,Claysville,Pennsyl- ~; t. .~vania, !~';i- "oj;;' (hereinafter called "Buyer")• PLAN OF TRANSACTION Seller is the owner of certain business assets with Q ~:which it operates a tire business at 214 South Main Street in the ,:., .'City of Washington,Washington County,Pennsylvania.Buyer desires..... Jl ••!:to purchase :from Seller,who des~res to sell to Buyer,all of the i'business assets of Seller,including all of its equipment,tools, ;'_machinery,inventory,le.asehold and business assets,including all "'of its interests and right in and to the name "Howley General Tire",. ".. ;.there being excepted from this sale,however,an ~,Oldsmobile automobile.It is understood and agreed that Buyer may Ii .form a business organization to which it may assign its interest I,t· ~under this Agreement so that title to said assets may be acquired ::by such business organization. ~: ': ,I.-I'~~ I' ilI, ".~ " AGREEMENT .In orde','to consumate the Plan of Transaction herein- riginal before set forth and in consideration of the mutual benefits to be ji :derived therefrom and of the mutual agreements hereinafter ~ontaine~,. .I' :the parties hereto,intending to be legally bound,do agree as!, lfol1ows:I..!~ ,,-., i I ,..~ (1)Sale.ii, Seller shall sell and Buyer shall purchase all of the b~siness assets of Seller,including: , ". :' '"I .~ (a) (b) (e) The equipment,fixtures,tools,and furnish- ings as set forth in Appendix I which is attached hereto; The inventory of tires,accessories,parts, and materials which are listed and described in Appendix II attached hereto; All of the right,title and interest of the Seller in and to the use of the name "Howley General Tire"; }~ ! , (d)The right,title and interests of the Seller as Tenant in and under any lease agreement by virtue of which it occupies the premises wherein it presently condu~ts its business. (2)Instruments of Transfer. Seller shall execute,acknowledge and deliver to Buyer all proper and necessary instruments of title transfer in order to effectively transfer to and vest in Buyer title to the items of property or interests in property described in Article (1) hereof.The instruments of title transfer shall be instruments of ,' ,assignment,bill of sale,or such other instruments or documents of transfer as shall,with respect to each said item being trans- ferred,be proper for the effective transfer of ownership of such items •., i " .1; ;, ...(3)Representation as to Financial Statements • (4)£ompliance With Bulk Sales Statutes. Because the sale contemplated hereby may be deemed I, !:a "bulk salen ,Seller shall,prior to the actual closing,perform l:and duly comply with all pertinent requirements and provisions of - I ,"" •i I Article 6 -Bulk Sales of the Uniform Commercial Code (12 P.s. 1\56.101,et seq.),of §1403 of the Frsca1 Code (72 P.S.§1403)of 5546.~of the Tax Act of 1963 for Ed~cation (72 P.S.§3403-546.3), ,and of any other applicable legal requirement ..At the actual closing,Seller shall furnish to Buyer evidence (including appro- :priate affidavits)of such performance and compliance by Seller, ,and such due performance and compliance shall be a condition prece- 'v' dent to performance by Buyer of its obligations,provided,however, ;,; "l'that in lieu of such compliance,Seller may deposit in escrow the ~sum of ,to protect the iBuyer against any debts,claims or liabilities which 'may arise as "of « ;a result of the Seller's failure to or inability to comply with the " ;'Bulk Sales Statutes prior to the date of closing.In such case '·;the Escrow Agent shall be Commercial Bank and Trust Company of,. ,'. TWashington • ...... (5)Purchase Price.•ft". The total purchase price for all of the asset~ i'listed in Article (I)hereof shall be as follows: " !. ":~ ~t.: ,i,::, I~ : :i : :;: I i.•;, /! : .....IIII "IiIi, : it ~I i I:1f,I j I I I ,(a)For the equipment,fixtures,tools,and fur- nishings as set forth in Appendix I which is attached hereto,the total sum of Fifteen ,Ithousand ($15,000.00)Dollars. (b)For the inventory of tires,accessories,parts, and materials which are listed and described ,.in Appendix II attached hereto,their book .value as determined by an inventory to be taken jointly by the parties hereto as of the date of closing which shall not in any event exceed the total sum of Forty-five thousand ($45,000.00)Dollars. (c).For the right,title and interest of the Seller in and to the use of the name "Howley . General Tire",the total and full purchase price of One ($1.00)Dollar. " r·..·Ll.•>lt"'I<..~i~;,,·,\\"St9biU,,';\b t'",,>,..hi,b'C"!·'···.Oft!:·itO ,H'"Ad '=v",!"d~1:1 «C •I ,~••'.•••._~_......L~-.._'-... •!, " (6)Possession. IIPossessionofallofthe tangible assets hereunder shal~be duly transferred to and delivered unto Buyer upon and as 'of the effective date of closing. (7)Buyer Does Not Assurne Liability of Seller. It is expressly understood and agreed by the parties hereto that the Buyer is not assuming any obligation,or I:liability,fixed,contingent or oth~rwise,of the Seller,includ- ;'ing but not limited to any obligation or liability of the Seller ~under any existing collective bargaining agreement,pension,. 'profit sharing or other compensation agreement which the Seller :may have with its present employees and that the Seller shall hold' harmless the Buyer against any claim,unfair labor charge,suit for.:. ,damages or other legal remedy which may be made against the Buyer 'by any of the employees of the Seller and shall indemnify and save ,harrnless Buyer agairist any damages,fees,costs or expenses which ,might be insurred in connection therewith. (8)Training Operators as to Mechanical Equipment. Between the date hereof and the closing date, Seller shall fully educate,train and instruct Buyer,or its :representatives,in all matters with respect to the operation and workings of all mechanical equipment which is being turned over to Buyer by reason hereof.At the option of Buyer,Seller,as of the effective closing date,shall either duly terminate or assign to Buyer all existing maintenance or service contracts relating to any asset which is to be sold or transferred under this Agreement,and Seller shall assign to Buyer its interest in all equipment warranties still in effect. ".' (9).Taxes. The Seller shall be responsible for and shall pay any inc6me,franchise sales,business and occupation,or any other tax liabilities relating to periods prior to the effective date of closing. " In'I:,'...'$,:"II : "c.'•.:"~ (10)Payment of Purchase Price. At the actual closipg Buyer shall pay the Seller, the total and complete purchase price,as finally determined,after completion of the inventory hereinabove referred to. I" .l.- (11)Closing. The effective date of closing shall be midnight ·on May 31,1973.The actual closing shall take place at the "offices of Greenlee,Richman,Derrico &Posa (or at another :mutually agreeable location)at 11:00 A.M.on June 1,1973. ;.(12)Documents to Be Delivered By Seller.· (a)At the closing,the Seller shall turn over . :to the Buyer all operational records of the business.The Seller .:.shall have the right to examine the same for a period of three (3) years after the closing. ~{, '.., (b)On the date of actual closing,but as of the effective date of closing,Seller shall assign to LBuyer all of its :right,title and interest in and to all leases which it may have in :the real estate upon and in which its business is conducted. ':' :: (13)Personal Property. The items of personal property set forth in .the •inventory hereto annexed,marked Appendix 1,1,are included in the :"sale.Also included in the sale are all fixtures,chattels and .articles of personal property constructed or placed upon or attached .to or used in connection with the operation of the business generally known as "Howley General Tirell ,whether or not enumerated :on the annexed appendices.On the closing date the Seller shall 'deliver a supplemental inventory setting forth all additions and :.replace~ents of personal property between the date of the annexed inventory and the closing date.The Buyer shall have the right at '",any ";i ;all I~I , time before the closing date to take a physical inventory of personal property included in this sale.The Seller warrants f· ;.;'. and represents that it now has and ort the closing date will have good title to all of the personal property included in this sale, and that the same will be delivered to the Buyer free and clear of :alI liens and encumbrances.On the closing date,the Seller will ;:deliver tQ the Buyer a bill of sale covering such personal property ,together with the usual warranty of title,and assignments of all :'manufacturers I or vendors I equipment warranties then i?effect.' ; "q.''.s~ .... (14)Damage to the Items Which are Subject to this Agreement In the event of loss or or damage to'any of the 'items of property which are the subject of this Agreement prior to ::the closing date by fire or other casualty not covered by in- .surnace,the cost the.reof shall be deducted from the applicable purchase price.It is understood and agreed that the risk of loss 'to any of the items which are the subjec~of this Agreement shall 'be that of the Seller until after possession at the time of closing ;has been effectively transferred to the Buyer. ".. (15)Pending Lawsuits. The Seller covenants and warrants that there are :no suits,actions,claims or proceedings pending,whether involving j; a governmental authority or private party,to which the Seller is La party of in connection with the operation of that business .generally known as "Howley General Tire",and the Seller agrees ;to give the Buyer prompt notice of any suits instituted between the :date hereof and the closing date. .....I!. (16)Corporate Resolutions and Affidavits. (a)For the purpose of voting upon the'approval.,: :of the sale contemplated by this Agreement,Seller shall cause a 'special meeting of its Board of Directors and a special meeting of i:.,.~1ts Shareholders to be held at which due and proper resolutions ;which comply with all relevant req~irements of §311 of the Business', I' :corporation Law,Act of May 5,1933,P.L.364,as amended,shall be •.! It : • I ~ -~.I satisfied.The Board meeting shall be held prior to the execution by the Seller of this Agreement and~the delivery of an executed copy thereof to Buyer.The meeting of the shareholders shall be held prior to the date of closing • .(b)Upon delivery to Buyer of an executed and :acknowledged copy of this Agreement,Seller shall contemporaneously therewith deliver to Buyer a certified copy of the resolution of :'its Board of Directors,adopted according to the terms of the !preceding subparagraph (a)of this Article,which authorizes the :'sale of assets under this Agreement • .(c)At the actual closing,Seller agrees to 'deliver to Buyer a certified copy of the minutes of the special meeting of Shareholders,containing the resolution adopted pursuant ,to subparagraph (a)of this Article which authorizes the sale of assets under this Agreement.Seller shall Jalso deliver at the '.;! :'closing to Buyer the affidavit of both its President and its :Treasurer warranting that the sale herein provided for will not 'render Seller insolvent and warranting that the bulk sale pro~i-r :sions of Article (4)have been complied with;and also certifying 'and warranting that the corporation is in good standing,that it has filed all requisite federal,state and local tax returns of ,,:any nature required by law and that there are no unpaid liens , , :clairns or deficiencies on account of said taxes as of the date of closing.The Seller shall also furnish the Buyer with a certified list of its duly elected officers as of the date of closing. (l7)Survival. ;..,. All representations,warranties and covenants .herein contained shall sur~ive the closing. (18)Assignment by the Buyer. Buyer may assign his interest under this Agreement. I. !( 0'II - 7 - ... (J I.. !, i (19)Final Agreement.J This Agreement constitutes the final,integrated understanding of the parties hereto,and it may not be altered or ~amended except by written instrument signed by both parties hereto. (20)Benefit. This Agreement shall be binding upon and inure to ~the benefit of the heirs,personal ;and assigns of the parties hereto.; .~'t representatives,successors IN WITNESS WHEREOF,the parties hereto have caused these :presents to be executed by the signatures of their duly authorized .officers and by the placing of their respective corporate seals hereon. HOWLEY GENERAL TIRE SERVICE,INC. ':;. .; 'Attest: '.(Corporate Seal) '.'ti: " Attest: .:'(Corporate Seal) I,,. I. II.1"" II.. ·..By------------------- DISCOUNT TIRE CENTER,INC. By _ " \~...:"",.'t,!':It'h't -Ul-......,t:.-............ll......~_"""..:,;.'.I.i;.~r ......·.....,....' .....-l;••.......;..--..,..........;...--'........---'-----'--------'--.L.....L~~ I:,-', ""r" ,: "..~. '.:. i:.. t,.'j: :!!: t,.'.. " (Excepting a """".J r APPENDIX I Oldsmobile automobile) .~ ,,..~ :1·Ii' !iII LI If II '" I ., ;. ;, i'., .~. ;~ ,; "!;..', : :~ :j, ..- i: "ti II .; j' !I ....""it.;! ,; ,1I!, ;' :; I',\ ";./ !' I,,. ,. ., " ; i"" r, :,, \1·, ; i I'. ,·,· i I, ; ! j, ,.., ;( -;: , j ·I··..~ ·~ ,i ~ · t ;!!·.. !~ ! : ",f ".". APPENDIX II. ',C " ....... ! &9_..._.:;:)....~~,t...f •..:....__•1.....I..L.,4l..\::..':"J ..."..4111••II ~~----~--------~----- ( day of 1973 .Two Fourteen Realty CorpQ~ation,a corporation created by and existing Uctwcenunder the Laws of the COIT.P.lonwealth of Pennsylvania,having its domicile in the City of Washington,County of Hashington and Conunonwealth of Pennsyl- vania,.,"(hereinafter called "Scl1er")anel Ronald 1-1.Blum and Fay S.Blum,his wife,of 1246 Lakemont Drive,Pittsburgh, Allegheny County,Pennsylvania j (hereinafter calleu "Buyer"). \VITKESSETI1,~that for the consideration lu:rt:inafter set forth and.intending'to he legally bound thc Seller and Buycr mut;Uy 3{;1'Ce ~follows: 1.Seller agrees to sell and convey to Quyer on or before thirty days from the .date hereof, by·.general warranty deed in fee simple absolute,clear of all mortgages,judgment liens and tax liens and other encumbrances affecting its marketability (except as hereinafter set forth)al1 the real property described in Paragraph 7 hereof..'....,. 2.Buyer agrees to purchase said real property and to pay Seller therefor the sum of Forty-fi ve thousand ---------------~-----($45,000.00 )Dollars as follows: Forty-five thousand ($45,000.00)Dollars upon delivery of deed at the time of settlement as herein specified.'.','..'-..' .-.·"S..'possession sh-all be ii~;en'onthe date -of settlement ]GC ,and settlement shall be made attheofficeofSeller's attorneyo"':lX XgXXX~~X or at .an office of .the Pittsburgh National Bank as specified by the Seller:on or.before the e>:piration of thirty days from the date hereof as.determined by the Buyer. 4.Buyer :mc1 Seller shall ('neh pay one hnl£of all state and local realty transfer taxes paphtc upon this transaction hut real estate taxes,sewer charges,and rents and royalties shall be prorated on a calendar year basis between Seller and Buyer as of date of delivery of possession of the premises,l;';~pt~..R~~H:l~~.,.;tlt-f.Ql=otl+: .. 5.From and after the date of this agreement.<insurance shall be provided and paid for as follows:Each party shall pla~e·in effect ana maintain,at their own separate cost,sud insurance as they deem adequate to protect their respective rights in said property against damage from fire and other such hazards as they deem appro- 6.Time is of the essence of this Agreement.priate. 7.The real property which is th~subject of this Agreement is described as follows: ALL that certain lot or parcel of ground situate in the Fourth Ward of he City of Washington,Washington County,Pennsylvania,bounded and described as 0110\'1s: BEGI!lliING at a point on the Easterly side of South Main Street at the I outhwesterly corner of the property of the estate of D.T.Watson,deceased,which, oint of beginning is also South 12°East "Sixty-two and two-tenths (62.2)feet -rom the intersection of the Southerly line of East Maiden Street and the Easterlyl ine of South Hain Street,also South 12°East,seventy-three and six-tenths (73.6. -eet from the South curb line of East Maiden Street and North 78°East,twelve andl -our-tenbhs (12.4)feet from the Eastern curb line of South Main Street;thence ~orth 78°17'East along the Southern line of the property of the estate of D.T. ~atson,deceased,a distance of one hundred forty-six and eight-tenths (146.8) :eet to a stake on the Western line of a ten mot alley knc~~as White Oak Alley; :;-:enc-9 South 110 32'East along the Western line of said alley a distC'l.nce of iifty-eight and two-tenths (58.2)feet to'a stake at the Northeasterly corner of ~he lot of ground conveyed by Samuel Finkel et ux.et ale to Sarah E.Hughes,et ~1;t~cnce South 78°09'West along the Northern iine of the property of the ::li'cr(.;s3iG Sa.~h E.Hughes,et ale I u.distance of one hundredforty~six and.tLre~ tenths (146.3)feet to a point on the Easterly property line of South M~in Street: t~ence North 12°West along 'the Easterly property line of South Main Street,ad~stunce of fifty-eight and five-tenths (58.5)feet to a point,the place of:;':!g.i.nning..~ UNDER and SUBJECT to the exceptions,reservations,condition::;and cove.~antsas~appear.in the chairi of'tit1e to the above described premises •. .',.BEING the same premis'es as conveyed to Two Fourteen'Real ty Corpora- tJ.on by·deedort"Jick HiriaJ.akis and Ir(~ne Hirial.Jki3,his \-life ,.dated Januar'v 2i3 I1~60,ilnd recorded on A~gust 25,1960 in the Washington County Recorde~of D~CJ5Offic~in Deed Book 1004,at page 491.'. TRUE ND CORRECT COpy DF.O .GINAL . --~-------------------------------------- -.'THe obl~g~ltl()J1 or t:htJ p.::rtl.OS !lerct:o J..!1 t.lll)case or trw tie1.1f.ir:to s\"'~1 ~ ;:nt:~n't-h-c:'c<1se of t!:~~Buy to purch.J.sG th~subject·"'al estate is C:;';!J:r0..s~·ly,:' ~:Jbjcctto the condition t.....lt Ho·....ley Generi1l Tire Ser._ce,Inc.and Discount 'rrrc c:cntcr,Co'I~.perform all of their respective conditions and obligations as set i forth in an Agreement of even date herewith between the parties concerning the sal! of by Howley and the purchase by Discount of certain items of personal property , consisting of equipment and inventory used in the business operated by Howley General Tire Service,'Inc.located ~on'said real estate.:.'~.....-.......'......":;.._.:..- .-.':...'.....-~ :...."'.".... ....~,.-.::....--:.....:....;....~:''...~, .:,.-... '.'"'........"......".., .,.It is contemplated by the parties hereto that the settlement of the within Agreement and the Agreenfentbet\veen Howley General "Tire Service ,Inc·~and Discount Tire'Center,Inc.will take ·placeat.·the Sa111e time'~''.'."~'"~:'". •...":...•;'..... •..- ••:- •'..'..'.~.:.....'.<.,.':.,.:.~~~.'•••-.......-".'...:' ~~ ..~...- i .. - :'.''8.,If:Buyer def:J.UltS in payment or petformimce for:'·':30 ..days,Sellerniny',at Seller's election, u~e one or mort;of the following remedies in"addition to or instead of any other remedies i)1'ovic]ed byl:iw:. ".;\a)re~cind 'tilis ;greement ~lid Iet~l~ali ~~m~p;Ud'on'~c~o~nf'he~eof as"liq~id';ted da~~~'~~,:"in" .which case Seller-shall retain title to the real estate,fx;ee an,d clear of any oblig.ation or duty.to Buyer-and Buyer,. shall surrender this'Agreement for.cancellation;" '.'~:.•..'.:.:. -... . .,:.,... -..:,.- I ..~".. .(b)eject Buyer from said real'"estate,for ,,,hich purpose .Buyer hereby'authorizes :my attorney of 'any ,Court of Record to appear for Buyer arxl'confess.judgment agairist Buyer ·in an amicable action·ofejectment, with immediate \\Tit f01'possession Df the real estate and for damages,to inClude"attorney's'commission of'.5 :.'% ..'...'or $:.and costs,hereby·waiving stay of execution,exemption and inquisition,\vith'release of all errors;:' '..'(c).'affirm·this ag~r'ee~e~t by'delivery·~f.deed 't~'Buye~,de~la;e ali su~d~e'h~~~~ndel:to be forthwith due arid pay~ble,and cause judgment to be entered therefor,for which purpose Buye~hereby authorizes ::md empowers any a,ttorney of any court of Record to appear for Buyer and confe,s5.judgment against Buyer for the ,,,hole balance due,'together wlth interest~attorney's commission of.':'5 ..%9r'$.. .,and costs, and hereby agrees to immediate execution the'reon,waiving stay of execution,.exemption and inquisition,with re- 'lease of all errors. .'9..The Euyer agrees not to.record this Agreement ~d recording by the Buyer shall constitute a breach thereof.'<'"..'.'.._:_',' .;:.;,.~.,.:".-.., .-'..._~; "...~. 10.This agreement shall extend to and benefit and bind the heirs,executors,administrators,successors and assigns of the parties.\vnenever used herein,the singular number shall include the plural,the plural the singular and the use of any gender shall include al genders.· II: NOTICE -THE USE OF O~~OR MORE COAL CLAUSES l\-fAY OR MAY NOT BE REQUIRED BY LA\V WITH THIS AGREEMEN"T WITNESS the due execution hereof the day and year first-abovewrihen.-.."...."'.., .ATTEST:. :-.. .-TWO FOURTEEN REALTY'CORPORATION .'. -._..~_.._-____~__.<SEAL) ,':.'::.:,.;':." Secretary By ...." -_.___ <SEAL) President . \VITNESSED BY:-~"..'~......."...___.,__~~.__..._.._.._.__..._(SEAL) __"-_.._-;;:_.____ _.._(SEAL) Ronald M.Blum ~. _.---._-__.__._._.___._.._<SEAL) Fay S.Blum ___,.._._..__. .._._.{SEAL ) I c( IJ) I 0 i n. :-IS ~i 0i aU-!i 0::;:~i 0::0(::l..J!w 0 ...l- i 0(.1 I Z U\ I <i >-0- I ~LoJ Z:r::J:I) U 0 ... I l-t.: 0::... I -< UI '.1 UI .. .J ::z I· UIhi It ~,.,1 .••';;'~.,e......,'"~.."...- zoH I I8ir-I.~.".-ii . !""i ~0 i ..,.f I~!'....,~~IU'2:0 !:3 ::-.:.-I ...., u !Q)r-f !~+J ::->l>t i Q)•.-1 U)i~..,8 !J..I ~.',i i~H I ...Q ~"j ... ~..~..j'-5 ~Q),. ~i .~~+J At I .' 'H ~!', ~!I ~0 ...i~z E:..c::If.4 .(l)0'If.4 I ~~~. ~8 I ra ::30::0 H .Q~~~U) 0 \D +J~i .."....,.+J-~~ l 0 N ·.i 63-69-928No._ ./ <1rnuutyJItttnnfIftt!1qingtnn iiuinwn nf <1rnmmnu ®rpqttun'<1rnurt ~1t tqt ~~~r,t.-, .:)'.....-td .>\",....I .\, In the matter of the"rAi!dit'of Account in-r ~:..'.~.. :-"~ttl rEstateof.....~,__'·__'.=_{ l!..a r; ROGER M.HOWLEY,DECEASED . I.~ ;;,I £-l',r • TO THE AUDITING J~i)GE: --, Enter my .'~'-- above decedent. JAMES R.HOWLEY,son of theappearancefor _ QPI:I~ ~h day of September.;'19 73,-- N.B.-Counsel small,by separate paper,present a concise statement of each claim,wHh supporting calculation of any interest claimed.Objections to an account as filed,shall be concisely stated in a separate pa·per. Council suggesting proper distribution shall file a separate condse state- ment in that regard. No.__'63-69-928 In re Audit of Account in Est!lJte of ROGER M.HOWLEY,DECEASED AUDIT Jrarripr fnr Appruraurr FOR JAMES R.HOWLEY LYNCH,LYNCH Be CARR 3616 MELLON BANK BLDG. 525 WM.PENN PLACE PITTSBURGH,PA.t 52.19 Attorney ~2 ", ; nf (ltnmmnu @rpijuun' Qrnurt .. "" Jl~un nf lIunijiugtnu Qrnurt ilinininu Qrnuuty In the matter of the Audit of Account in 63-69-928Estateof( RCGER M.HOWLEY,DECEASED TO THE AUDITING JUDGE: No._ my ROBERTA S.HOWLEY,wife ofEnter---'appearance for _ the above decedent. -a;;;,.r ~~~~~~__~day of September ,19_7_3_ N.B.-Counsel shall,by separate paper,present a concise statement of each claim,wHh supporting calculation of any interest claimed.Objections to an account as filed,shall be concisely stated in a separate paper. Council suggesting proper distribution shall file a separate condse state- ment in that regard. No.63-69-928 In re Audit of Account in Estrute of. ROGER M.HOWLEY,DECEASED AUDIT 'ra~tipe fnr i\pp~arant~ FOR ROBERTA S.HOWLEY LYNCH,LYNCH Be CARR 3616 MELLON BANK BLDG. 525 WM.PENN PLACE PITTSBURGH,PA.15219 I Attorney ~2 ,-------~.::.' ~lt tq~QJnurt nf QJnmmnn Jtl~ua nf lIuaqingtnn QJnunty (@rpquna ~QJnurt 1Biniainn In the matter of the Audit of Account in Estate of_~R!J,.MOGl>i[ER",",.l.L..M........-----uH""'OWLE........u.;u..y r TO THE AUDITING JUDGE: No.----'6><-3'---'-------'6.....9<-=-~9,u.2..,..8'------ Enter ID....,:y__----appearance for ----.lA~c""cI.£Q!.!.un.l&U.Jjt'-"anWulo..lt"--_ __---'S.Lle"'":p~t.lLe...mUUJhLCe'-'r-----,19-'L3- N.B.-Counsel shrall,by separajte paper,present a concise statement of each claim,with supporting calculation of any interest claimed.Objections to an account as filed,shall be concisely stated in a separate pa·per. Council suggesting proper distribution shall file a separate conctse state- ment in that regard. No.63 -69 -928 In re Audit of Account in Estalte of ROGER M.HOWLEY AUDIT 'rarripr fnr !\ppraraurr FOR Accountant JAMES C.BANE Attorney ~2 " .-It'Form for Guardian or Trustee 'rtitinn ~ur 1\u~it lin IDl1r ®rpl1an!i~(!.tuurt uf lIasl1tngtun oruunty J 4 1&~a~et of ~9..~.~E ~.:?.~:~J.~y... For B5?E.~.£~.9:9...:?9.~1.~y..J ;f..y.D.g...J?... minor-incompetent-life tenant Dateoft:t;Ist.March 28 1967oJt~anxlxilt··..····..·..·..··..· ·..?..• • • • •..•.. If there have been former accounts filed in this estate,list: Filed at No of 196 . Fiduciary ~J.~.~.§.9..y..r.gJ}N.9:.t1.Q.D.§,J Jt~nK .. Place of record of appointment ~E.1!.~.t y.E!g.~.r.~,gr..~.~.ill.~.D.t .. Reason for filing this account..~.9.£.~.9..y..~.~J gg.y.r..~t.9.gJ.:r..~.~.t f..\1J.~r..§§,.gm1.n.i.R..t.;r..g.t..i.Qn . of trust. All persons having any interest,vested or contingent (including claimants),in the fund now before the Court, with the nature of their interests are: Mrs.Roberta S.Howley Mr.James Howley Mrs.Suzanne Howley Ochiltree All of said parties have received notice as required by the Court Rules except as follows: No exceptions The fund now before the Court is subject to the following taxes: None Set forth any legal problems requiring adjudication by the Court or difficulties that must be met in distribution: SEE ATTACHED Balance for distribution per account,Principal $~.~.?.~.91 •11..................................... Additional debits not shown in account: (Indicate whether income or principal) Additional credits not shown in account: (Indicate whether income or principal) Balance for distribution Income Total additional debits Total additional credits Principal $........~..$...2.9..Ql.:.J1.......................... Income $.3..9..5..:..7.3'0 .. Total $~.~..?..?..§§.:..~.~. $.3.§.5...~..7..3 . $.. $. If the balance for distribution is not in cash,list items held in kind with carrying value designated,and if this is a distribution account,file elections to take in kind for all items so listed: ..., 186 shares Howley General Tire Service,Inc.$93,000.00 -----.~-------------------------------"""'I,." Set forth accountants suggestion as to manner and form of distribution to be made,awards to be stated in pro- portions unless specific amounts or items are designated by instrument under which estate is being distributed: Award back to Pittsburgh National Bank,Trustee under Irrevocable Life Insurance Trust Agreement of Roger M.Howley dated March 28,1967 to be administered in accordance with order of this Court. COUNTY OF WASHINGTON, COMMONWEALTH OF PENNSYLVANIA,~SS The above named Fiduciary or representative thereof, being duly §.~.S?£~doth depose and say that the facts set forth in the foregoing petition are true to the best of...tt§knowledge and belief. ..~.~~T!:to and subscribed before me Tlris_··z.t.g···:···_··,;~···s.·~~·'~··_·f~ SIgnature 01 Offlcer _7/-_.,d:.jL.If..._. Title of Officer tY.\R~M~.IT..~.;..g!.~~I ~.9.t?XY ev.I;>.I,i.~.. Pittsburgh,Allegheny County,Pa. Office expires ~i...~.9.r!)!!:!.~~!9.~..I~p.!r.~~..J.~D.UI.J~1.§. And your petitioner will ever pray,etc. I~ ttl ,Jrtitinu ~ur i\ullit IN THE ORPI-IANS'COURT OF WASHINGTON COUNTY FORM USED FOR GUARDIAN-INCOMPETENTS -OR TRUSTEES No of 196 . ~1~f OF ~g.~.~.~~.~~?~.~..~.¥.. FOR.~.~.~..~.~.~..~~~~.~.~.~.~.Y.:?. Fund B ································~~..::::iif~·te;:;;:;;t········. Counsel for the accountant shall submit herewith the following,if pertinent: 1.Will or trust instrument-attested. 2.Inventory. S.Signed elections of items to be taken in kind- if distribution account. 4.Stipulation or certificate by minor approving account. 5.Praecipe for those represented. 6.~-for any question of law raised. lor accountant. ~2 ... Howley General Tire,Inc.,the only asset in this trust is being liquidated and the assets have been sold to Discount Tire Center,.Inc.in accordance with sales contract attached. Article I of the Trust Agreement reads as follows: B.The principal of the Residuary Trust shall be held and/or distributed as follows: 1.a.If the Insured's business known as HOWLEY GENERAL TIRE,INC.including the stock of said business has been sold,the Trustee shall set aside in separate trust for the Insured's daughter,SUZANNE HOWLEY OCHILTREE,such an amount as will equal the price for which said business was sold,and the Trustee shall pay the net income from such separate trust to or for the benefit of the Insured's said daughter in quarter-annual installments,for and during her lifetime,together with so much of the principal thereof as the Trustee,in its sole discretion,deems advisable,for her health,maintenance and support. Notwithstanding the foregoing provisions, as and when the Insured's daughter,SUZANNE HOWLEY OCHILTREE, attains the age of thirty (30)years,or at any time thereafter, she shall have the right to withdraw_one-half (1/2)of the then remaining principal of this separate trust,absolutely and free of trust;'and as and when the Insured's said daughter attains the age of thirty-five (35)years,or at any time thereafter,she shall have the right to withdraw any and all balance of the then remaining principal of this separate trust,absolutely and free of trust. J ----~~~~~~~~~---------------,---~ b.In the event the Insured's da~ghter, -SUZANNE HOWLEY OCHILTREE,dies during the continuance of this separate trust for her benefit,or is not living at the time for the creation thereof,the then remaining principal of such separate trust shall be distributed to the then living issue of the Insured's said daughter,per stirpes and absolutely, sUbject,however,to the minority provisions hereinafter set forth,or in default of issue then surviving the Insured's said daughter,the same shall be added to the balance of the principal of the Residuary Trust to be held and/or distributed in accordance with the provisions of Paragraph 2. below and all subparagraphs thereunder. 2.The balance of the principal of the Residuary Trust or the entire principal of the Residuary Trust in the event the Insured's aforedescribed business has not been sold (hereinafter referred to as the Residuary Trust)shall'be held for the use and benefit of the Insured's wife,ROBERTA S. HOWLEY,and the Trustee shall pay to her,or for her benefit, the net income therefrom,in installments convenient to her, but not less frequently than annually,for and during her lifetime together with so much of the principal thereof as the Trustee,in its sole discretion,deems advisable,for her health,maintenance and support. Notwithstanding the foregoing provisions and in addition thereto',in the event the Insured's business known as HOWLEY GENERAL TIRE,INC.including the stock of said business forms a part of the Residuary Trust and is sold during the continuance of this trust for the Insured's wife, the net proceeds from said sale shall beset aside from the Residuary Trust and held in a separate trust for the Insured's -~-.------,-----._~--------..,.,.....-~-·---------'r'l:' II ,....,/f " daughter,SUZANNE HOWLEY OCHILTREE,in ,accordance with the provisions of Paragraph 1.a.amd b.above. 3.Upon the death of the Insured's Wife,ROBERTA S. HOWLEY,during the continuance of this trust for her benefit,or upon the Insured's death in the event his wife fails to survive him,the principal of the Residuary Trust as it is then cori- stituted,shall be divided between the Insured's daughter, SUZANNE HOWLEY OCHILTREE,and the Insured's son,JAMES R.HOWLEY, in such manner that the share passing to the Insured's daughter when considered with the initial value of any separate trust created hereunder for her will equal the share passing to the Insured's son when considered with the proceeds of any life insurance policy owned by the Insured on his life which was payable to the Insured's son,it being the Insured's desire to treat his children as nearly equally as possible.Each such share shall be held and/or distributed as follows: a.The share thus created for the Insured's daughter,SUZANNE HOWLEY OCHILTREE,shall be added to any separate trust previously created for her to be held and/or distributed as provided therein,and in the event there is no such trust then being held for the Insured's daughter, the same shall be held in separate trust and/or distributed to her in accordance with the provisions of B.1.a.and b.above. h.The share thus created for the Insured's son,JAMES R.HOWLEY,shall be distributed to him,absolutely and free of trust,provided,however,in the event he has not attained the age of thirty-five (35)years,the same'shall ~e held in separate trust for him in the same manner and subject to the same terms and conditions as provided for the Insured's daughter under the provisions of Paragraph B.1.a.and b. above,prOVided,however,that any and all reference th~rein '----~---.~~._.--,......."'" to the Insured's daughter shall be amended to refer to the .Insured's son. c.In the event either child of the Insured is not living at the death of the survivor of the Insured and the Insured's wife,the share otherwise created for such child in accordance with the provisions of Paragraph 3.above, shall be distributed to his or her then living issue,per stirpes and absolutely,subj ec·t,however,to the minority provisions hereinafter set forth,or in default of issue then surviving such deceased child,the same shall be added to the share created for the Insured's other aforenamed child or his or her issue as the case may be,to be held and/or distributed as though an original part thereof. C.If,at the time distribution is to be made' hereunder in accordance with the foregoing provisions, none of the persons named or described above is living to take the principal of the Residuary Trust,the then remain- ing principal of the Residuary Trust shall be distributed to the Insured's then liVing heirs and next of kin in accordance with the Intestate Laws of the Commonwealth of Pennsylvania in effect at the time of the Insured's death. The Court is respectfully requested to determine if,during and after the liquidation of-Howley General Tire,Inc.,this trust is to be administered for the benefit of Suzanne Howley Ochiltree in accordance with the provisions of Article I,Paragraph B.1.:a. and b.or if the trust is to be continued to be administered for the benefit of Roberta S.Howley in accordance with the provisions of Article I,Paragraph B.2.and B..3.a.,b.and c. The Court should note that the Company itself is not being sold but is being liquidated. ~ 0 0 '1 •\ \' ""- "W ..". ~ /--- ....... o \\ o U .~ IN TEE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION NO.63 -69 -928 IN RE: ESTATE OF ROGER M.HOWLEY. MEMORANDUM FOR TEE COURT IN BEHALF OF PITTSBURGH NATIONAL BANK.TRUSTEE JAMES C.BANE ATTORNEY AT LAW WASHINGTON TRUST BUILDING WASHINGTON,PA.15301 ·. r~ IN TEE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: ESTATE OF ROGER M.HOWLEY. ) ) ~) NO.63 -69 -928 MEMORANDUM FOR TEE COURT IN BEHALF OF PITTSBURGH, NATIONAL BANK,TRUSTEE The question to be determined is whether the trust shall continue to be administered for the benefit of Roberta S.Howley,widow,or for the benefit of Suzanne Howley Ochiltree,daughter.This in tum depends on whether the insured's business,Howley General Tire,Inc.,has been "sold". If so,then the trust continues for the daughter,if not,then for the wife. The corporation itself,that is,the stock certificates representing its ownership,has not been sold or transferred.All of its physical assets not to exceed $60,001.00 to Discount Tire Center,Inc. of a personal property and chattel nature, ings,inventory,stock in trade,goodwill, equipment,fixtures,tools,furnish- and name have been sold for a sum I I The real estate where the business was carried on,which was owned by Two Fourteen Realty Corporation,a wholly-owned subsidiary of Howley General Tire,Inc.,has also been sold,fCDr $45000.00,to Ronald M.Blum et ux. The corporation Howley General Tire,Inc.,remains in existence. It does not do business,and owns no tangible property,and its only asset will be the cash proceeds of the two sales above mentioned. Whether the two transactions above mentioned amount to a "sale"of I the "business"is a question not free from difficulty,but it now appears thatj it may not have to be answered. The trustee-accountant takes a neutral position in the matter,and it is informed,that all the parties in interest,being the widow,the daughter,the son,and the existing corporation,desire and are agreed that the ",. trust shall continue to be administered for the benefit of the vIidow,and that the trust agreement may be interpreted accordingly. Wherefore the trustee will have no objection to a decree directing that the trust shall be continued to be administered for the benefitof Roberta S.Howley in accordance with the provision of Article I,Paragraph B.2.and B.3.a.,b.,and c of the Trust Agreement. j . I ~ " '" ..~ ,I/V ~l .t IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVIS ION NO.63 -69 -928 IN RE:ESTATE OF ROGER M.HOWLEY• AFFIDAVIT OF SERVICE c.<--. .~. JAMES C.BANE ATTORNEY AT LAW WASHINGTON TRUST BUILDING WASHINGTON,PA.15301 ..' IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'CDURT DIVISION IN BE:ESTATE OF ROGER M.HOWLEY ) ~NO.63-69-928 AFFIDAVIT OF SERVICE COUNTY OF WASmNGTON COMMONWEALTH OF PENNSYLVANIA ) ~SS: Before me,the undersigned authority in and for said county and state,personally appeared JAMES C.BANE,who first having been duly sworn according to law,deposes and says that he did on September 18,1973,by Certified Mail No.661393,mailed by Mrs.Suzanne Ochiltree,1008 Yardley Commons,Yardley,Pennsylvania 19067,a notice that the Audit in the Estate of Roger M.Howley,deceased,was continued until October 31,1973,in order that counsel for each of the parties to file such briefs or memoranda as they deemed proper.';-.'.~. That he received the Return Receipt properly signed by Suzanne ~ :I~.t.::~:~e as will appear from the receipt attached hereto and made a part _o' o cd :~. 1:a..:~ ::;3 ~•f"r\'iL,.(3 ~~Itt; :J It"-W~ (;')0 _.......L 't::u ....~3 .~/.......,.....-/...~t::•~.u~.c.0 •'"~'I~ L..........•;.t:""o"S~~~1~~~:~mS t d b "b d i'.....ctl • •~..worn 0 an su scr~eC::S~'11-.a.Q):c .;;;,S before me this 31 at day ~.:>~~(".J ,...ioh W C"£e.,"fff·3'of October,1973. MAE HERCEG ...... ,Notary Public,Washington,W","Cb. •,My Commission Expires JIlIy ,14,1915• -.. --_.-._._-----------~--- " "PLEASE FURNiSH SERVJC~(S)INDICATED I3Y CHECKED BLOCK(S). REQI,JIREDFEE(S)PAID.' n ...ShoW,t.b whom;date 3l'ld address D Deliver ONLYLdwheredeliveredc-.to addressee .-.'.RECEIPT . ./'"' .Received the nuhlbered article described below.,".~.'..""'",,'~ GPO\G~5-l5-"..;'1.Wl!-).l 341~lgS_".--_~.~.::~'~,>--,'A·',:,:_~........"-~~'-'---_,I DATE DELIVERED '-RE_GI_ST_E_RE_D_N_O.,---_~~_4 ,t'¥:rUR~.'bRNA"~AD.'D."'S.EE{Mlutalways be filled in)" CERTIFlEDNO.'l'~\."\-t ~, 661393 'SIGNATUREpFADDRESSEE'S AGt..NT,I~!NY I.- INSURED NO:.Oc.YJ ,rr"(t. ----'"'---~--"'-_.,~ ,. .. • '- WASHINGTONRESIDENTDECEDENT COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS COUNTY OF 03 - date of death,unless an extension is granted by the Secretary the Inheritance and Estate Tax Act of 1961.) IMPORTANT:This return must be completed in detail and filed in duplicate,with will attached,with the' Register of Wills of the County where decedent resided;Return is due within one year after of Revenue.(Section 703 of .........Rager I=~::w.::.~:':~~.E ..~~~~~.~..:.~}:::uA;~:OF (State full name of decedent) Washington ~Late of .,......County State of PennsylvanJ.Cl.}ss: County of A1legh.eny We,Gary C.Goodlin,Assistant Vice President, ...:P..~.~.~~1:l.\l.!;.g~~~.~.!.~J;l:~.1.~~t.*~.~.C:i J.~~.~.~R~~<>.~J.~y.... AJI1 • .t tar of the estate of the above-named decedent being duly sworn,depose and say Decedent died Augus.t...11 ,19 6.9 .,]testate leaving a last will,c.?py of which Name and address of attorn~:O::})p~~~:~~rgh~:::.<>.~~;~;.~~/ other authorized representative to A whom all cor respondence s hould be 4:14 '.W()Q<il)t:reet,l':I,t:t:.~pl,lrgh"rf:1.!J!)zzZ . mailed. is hereto attached.} That as such ~~~.~.~.~9..!'.~deponentsilaflmiliar with the affairs of said estate and the properly con- (I,x",,"tor":¥r~ stituting the assets thereof and their fair market value. That at the time of death there was no safe deposit box registered in decedent's individual name,or jointly with,or as agent or deputy of another,or in decedent's individual name,with right of access by another as agent or deputy,with the exception of the following:- NAME AND ADDRESS OF BANK OR OTHER INSTITUTION THIS SAFE DEPOSIT BOX RENTED RELATIONSHIP OF JOINT IN WHICH DECEDENT RENTED A SAFE DEPOSIT BOX IN NAME OR NAMES OF HOLDERS TO DECEDENT Pittl'lburo-h Nat-inn..l Rank Washington Office ~nT.Jl AU ~11 'T'i TP ~PT\Tit"'P ..Tnt' That the contents of said safe deposit box or boxes are itemized under Schedules of this return,with the exception of the follOWing,for the reasons hereinafter set forth: That Schedule A attached hereto and made part hereof sets forth fullv and in detail all the real property in the Commonwealth of Pennsylvania of which decedent died haVing an interest therein.It also sets forth the mortgage encumbrances upon each parcel of real property at the date of death,giving the amount still due at death,name of mortgagee,date,rate of interest,and book and page of reco~d thereof.It also sets forth in the columns provided therefore the assessed valuation of each of said parcels,the estimated market value thereof as of date of death of decedent. That Schedule B attached hereto and made part hereof sets forth fully and "in detail all personal property wheresover situated owned by the decedent at the time of death;all moneys left by the decedent at the time of death,whether in decedent's immediate possession,standing to decedent's credit in banks of deposit,savings banks,trust~'companies,or 0 ther institutions,whether individually,or in trust for any other person or persons giving also separately the accrued interest thereon,if any,down to the last interest day prior to decedent's death in the case of savings banks,and to the date of decedent's death in all other cases;all bonds,postal savings,treasury certificates or notes and other evidence of in- debtedness of the United States to the decedent;all obligations,whether by statute or agreement they are designated as tax free,of the United States,or any state,or political subdivision thereof,or of any foreign country,which are owned at the time of death;all wearing apparel,jewelry,silverware,pic- tures,books,works of art,household furniture,horses,carriages,automobiles,boats,and any and all other personal chattels of whatsoever kind or nature,left by decedent,together with the fairly estimated market value thereof;all bonds and mortgages held by decedent and of all claims due and owing decedent at the time of death,and all promissory notes or other instruments in writing for the payment of money of which decedent died possessed,of whatsoever nature,with interest thereon,if any,giving the face value and estimated fair market value thereof,and if such estimated fair market value be less than the face value,it sets forth briefly the reasons for such depreciation as to each item;all moneys payable to the estate from life insurance polici'es carried by decedent;all annuity and endowment contracts the proceeds of which were payable upon the death of the decedent;and all the corporate stocks and dividends due thereon and unpaid as of the date of death,bonds and accrued interest thereon to the date of dece- dent's death and other investment securities owned by the decedent at the time of death,with the market value thereof at such time. ..-...T In the case of securities of close or family corporations,.the values reported.are as far as possible substantiated by financial statements of the corporations,showing the assets and liabilities thereof as of the date of death.The schedule also sets forth the interest of decedent at,the time of death in any co-partnership or business,and in support of the value of such interest there is annexed to said schedule,financial statements showing the assets and liabilities of said co-partnership or business. A copy of the co-partnership agreement,(if oral,a statement setting forth the nature of the agreement) together with a statement setting forth the character of the business,its location,and such other facts pertaining to the business as may be pertinent to a fair and just appraisal of the decedent's interest therein must be submitted.It should also set forth in itemized form,together with the fair market value thereof,any other property owned or bequeathed by the decedent at the time of death.. The Schedule C attached hereto and made part hereof sets forth a true answer to each inquiry contained therein and in the case of transfers ofproperty,real or personal,within two years of decedent's death,in contemplation of decedent's death,'or intended to take effect in possession or enjoyment at or after death,said schedule sets forth the nature aQd value of such property,to whom transferred,the relationship of the transferees to the decedent,the proportionate share received by each transferee and all other facts of a pertinent nature regarding said transfers.In the case of transfers intended to take effect in possession or enjoyment at or after death,there is also attached to the schedule a co~y of the deed,trust agreement or other instrument creating the trust.Ther,~is also set forth in said schedule a list of all property,real and personal,with its value,which passes at decedent's death by virtue of the exercise by decedent,either individually,orjointly with another,or any power of appoint- ment vested in decedent,either individually or jointly,by the will,deed,or other instrument of another, with a copy of the instrument crea~ing such power attached to the schedule. That Schedule D attached hereto and made part hereof sets forth the names and addresses of all persons beneficially interested in this estate at the time of decedent's death,the nature of their res- pective interests,their relationship,if any,to the decedent,together with the ages .at the time of decedent's death of all minors,annuitants and beneficiaries for life under decedent's Will.It also contains a statement showing which of the beneficiaries named in the decedent's will,if any,died prior to decedent,the dates of their death,their issue,andthe relationship of such issue to the beneficiary. That Schedule E attached hereto and made a part hereof sets forth all property,real and per- sonal,owned by the decedent jointly with another or others,including intangible,standing in the name of the decedent and others,plus the date and place of record of instruments effecting the vesti ture of real estate and the date of acquisition of personalty,plus the name,address and relationship,if any, of co-owners to the decedent. That Schedule F attached hereto and made a part hereof sets forth fully and in detail all debts and deductions claimed for and on behalf of this decedent's estate,including funeral expenses paid; family exemption,where applicable;costs of administration of this estate;counsel fees and fudiciary's commissions paid or to be paid;cost expended for burial trusts,tombstones or gravemarkers,and reli- gious services;in consequence of the death of the decedent;debts and claims owing and lillpaid at time of death;taxes accrued chargeable for period prior to decedent's death (except those allowed under Section 651 of the Inheritance and Estate Tax Act);together with a statement of collateral pledged for obliga- tions,if any.It is agreed that the fiduciary will present proof of said claimed obligations upon re- quest,that if the amount actually paid in settlement of any fee,commission or debt is less than the estimated amount claiming and allowed,that the same will be reported to the Register of Wills,and that the amount of tax assessed can be reassessed in accordance therewith. (ExeC1Ltor~ 4 Wood Street.......................................................................................................... (Street Number) Pittsburgh,Pa.15222.,. (City or Town and State) .........1920.. VL&1..~~. Subscribed and sworn to .'RNARAS,Notal'Y Public .P.U"p.\~lIe.gheny Co"Pa.-<',My,.C0J1l'll1lsslon Expires ltarJ:h Hi..l.ll74 NOTE:Before signing affidavit make sure all blank spaces in the affidavit and schedules annexed are filled in with details or the word."None",and in case the assets include rare and unlisted securities, securities of close or family corporations or an interest in any co-partnership or business,that the data and statements required under the paragraph above relating to Schedule "B"are attached.Also make certain that column #1 in the "Summary"has been properly completed as above-directed. That the totals of the appropriate columns in Schedules "A","B", "C","E",and "F"as directed therein, have been carried forward and properly registered in the Summary. ...RCC-~.$'(1-64) ..~COMMONWEALTH OF PENNSYLVANIA DEPARTMENf OF'REVENUE BUREAU OF COUNTY COLLECTIONS TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "A" REAL PROPERTY Real property in Pennsylvania,with statement of mortgage encumbrances upon each parcel at death of dece- dent,Where property held as joint tenant or tenancy by entireties,report on Schedule "E".Property held by the decedent as tenant in common with another or others,should be identified as to quantum of interest and the estimated value should be that of the decedent's interest only. The real property located In the Commonwealth of Pennsylvania should be (1)(2)(3) described by lot and block number,street and street number,together wi th DEPARTMENTageneraldescriptionoftheproperty,with a reference to the record of the ASSESSED VALUE VALUATIONconveyancebywhichthedecedenttooktitle;If a form state number of a·FOR YEAR OF ESTIMATED CAUTIONcres;also statement of mo.rtgage encumbrances upon ef.lch parcel at death DECEDENT'S MARKET VALUE (Do not writeofdecedent.Taxes,assessments,accrued Interest on mortgages,etc.,are DEATH In this space)to be listed on Schedule"F"and must not be deducted fro",this schedule.- NONE "#fT....0 ,. ..f :.·1 ",.-,~ Insert this total opposite "real property",Schedule "A"in the X X X X X "As Reported"column on the last page of this return. ;...COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "n" PERSONAL PROPERTY INSTRUCTIONS:This Schedule must disclose all tangible and intangible personal property owned individually by the decedent,at the time of his death.Property owned by the decedent jointly with another or others must be listed under Schedule "E".Intangible personal property,titled in the name of the decedent,but payable at death to another or others,including but not limited to P.O.D.U.S.Savings Bonds and tenta- tive trust accounts,must be listed,despite the fact that they are not of the administered-estate. Tangible personal property should be listed first (e.g.jewelry,wearing apparel,household goods,and fUrnishings,books,paintings,automobiles,boats,etc.) Intangible personal property,such as bonds,treasury certificates,cash on hand and in bank, stocks,mortgages,notes,together with accrued interest or dividends,salaries or wages,insurance pay- able to the estate or fiduciary in said capacity,partnership interests,interest in any undistributed estate of or income from any property held in trust under the will or agreement of another,even though located outside of the State,at the time of death,should be listed in this schedule. Item No. ITEM List and describe fUlly UNIT VALUE ESTIMATED MARKET VALUE DEPARTMENT VALUATION (Do not write in this space) 25 Shs.First National Bank &Trust Co., Washington County,Pa.,Common @36 200 Shs.Howley General Tire Service Inc., Common @ 500 100 Shs.National Mortgage Fund Share of Beneficial Interest $1.00 Par Value @ 7-3/4 24 Shs.Washi~gton Trotting Association Non Voting @6-1/8 100 Shs Marcus Herman Inc.,Common $0.50 Par Value @ 7-1/2 $200.00 Washington Trotting Association S.F. Subordinated Debenture 6-1/2%due 9/1/77 @ 78 Interest 3/1/69 -8/11/69 Prudential Insurance Company Employee Security Benefits Policy 1x126-733002 First National Bank &Trust Company Checking Account No.06-00514-4-06 I.Newton Chadwick,Agent 1/16th Share of Gas Productio~ Royalty per Statement dated 10/4/69 1/16th Working Interest in Come$Creek Lease,120 Acres,Norwich Township, McKean County,Pa. /- I 900.0C 100,000.00 775.00 147.00 750.00 156.00 5.78 278.57 420.66 26.07 85.00 $103,544.08 qoo.oo )OOr 000.00 ' lfJ t;5()O . /17 ·00 lot:,.Od ~ 6".19", ~~.O? germ---/03.04</0% Insert this total opposite "Personal Property",Schedule "B"in the "As Reported"column on the last page of this return. x X R.OC-~6 .COMMONwt:ALTH OF'PENNSYLVANIA TRANS}~R INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "c" TRANSFEIlS (1)Did decedent,within two years of death,make any transfer of any material part of his estate,without receiving a valuable and adequate consideration therefor?(Answer yes or no)No (2)Did decedent,within two years of death,transfer property from himself to himself and another or others (including a spouse)in joint ownership?(Answer yes or no)No (3)If the answer to (1)or (2)above is in the affirmative state: (a)Age of decedent at time of transfer _ (b)State of decedent's heal th at time of making the transfer.(Note 1). (c)Cause of decedent's death.(Note 1). (4)Did decedent,in his lifetime,make any transfer of property without receiving a valuable or adequate consideration therefor which was to take effect in possession or enjoyment at or after his death? (Answer yes or no)No (a)Was there any possibility that the property transferred might return to transferer or his estate or be subject to his power of disposition?(Answer yes or no)No (b)What was the transferee's age at time of decedent's death?__ (5)Did decedent in his lifetime make any transfer without receiving a valuable and adequate consideration therefor under which transferor expressly or impliedly reserves for his life or any period which does not in fact end before his death: (a)The possession or enjoyment of or the right to income from the property transferred? (Answer yes or no)__~NunL-_ (b)The right to designate the persons who shall possess or enjoy the property transferred or income therefrom?(Answer yes or no)_ (6)If the answer to (5)(b)above is in the affirmative,state whether the right was reserved in decedent alone or 0 thers .----:-__ (7)Did decedent in his lifetime make a transfer,the consideration for which was transferee's promise to pay income to or for the benefit of care of transferor?(Answer yes or no)__~~~~~__ (8)Did decedent,at any time,transfeI'property,the beneficial enjoyment of which was subject to change, because of a reserved power to alter,amend,or revoke,or which could revert to decedent under terms of transfer or by operation of law?(Answer yes or no)No (9)If the answer to (8)above is in the affirmative,was the power to alter,amend,or revoke the inter- est of the beneficiary reserved in the decedent alone or the decedent and others? (Answer yes or no)_ NOTE 1:The answers to these questions should be supported by affidavit by the attending physician as well as a copy of the death certificate. NOTE 2:If answer to any of the above questions is yes,set forth below a description of the property transferred,it's fair market value at date of death,dates of transfers and to whom transferred,with relationship of transferees to decedent,if any.Submit copy of any trust deed or instrument,if trans- fersare claimed to be non-taxable,also submit detailed statement of facts on which said claim is based. NOTE 3:List applicable property below in manner in which provided in Schedules A,B,or E. ITEM DESCRIPTION MARKET VALUE (Estimated)DEPT.VALUATION (Dept.Only) Insert this total opposite "Transfers",Schedule "C"in the "As Reported"column on the last page of this return. --'",...'COMMONWEALTH OF PENNSYLVANIA TRAN~FER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "E" JOINTLY OWNED PROPERTY INSTRrCTIONS:This schedule must disclose all property,real and personal,owned by the decedent jointly with another or others,including intangibles,standing in the name of the decedent and others.List real estate first,as entireties,or joint tenants,giving brief description,as indicated under Schedule "A",plus the date and place of record of instrument effecting vestiture,but do not include entireties or out of state real estate value in estate valuation column.Personal ,property should be listed as in Schedule "B",plus date of acquisition,and the name,address and relationship (if any)of co-owners to the decedent. Description of Property,Date of Acquisition,Name I Address and Relationship of Co-Owners,and Place I of Record of Instrument,where Real Estate.! Unit Value percentage Share Estate Valuation DEPARTMENT VALUATION CAUTION-Do not Write In This Space. Value of Value of Entire Decedent's $1,515.00HouseholdGoods (As per appraisal on file with Executors)(Jointly Owned w~th S.Howley,Wife) RobertaJ1~ Lot 40 x 120 Cochran Road,having erecte~~ thereon a 2-story brick and shingle ~~I dwelling and a 2-car Concrete block \~~ garage.Known as 118 Cochran Road,/ Mt.Lebanon Township,Allegheny County,I Pa.$20,500.00 (Owned by the entireties with Roberta S.Howley,Wife) .__________________________L-__-L -L_.,.-+-,.---t-_----~ Insert this total opposite "Jointly Owned Property",Schedule "E" in the "As Reported"column on the last page of this return. .'.,.I ••~••RCC-3?(]2-63)..- COl'.r'MONWEALTH OF PENNSYYLANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "D" BENEFICIARIES ( h BENEFICIARIES AND ADDRESSES RELATIONSHIP SURVIVED(If step-children or DATE INTEREST OFStatefullnamesandaddressesofallwhoillegitimatechildrenDECEDENTOFBENEFICIARY ave an interest,vested,contingent or other-are involved,set STATE YES IN ESTATE wise,in estate)forth this fact.)OR NO BIRTH Roberta S.Howley WIFE YES J!JLJlltf/1 LEGATEE AND BENEFICIARY 118 ,.,.•Road UNDER TRUSTS 'Pi ..'P::l 1'1228 . Pittsburgh National Bank Trustee Under Life Insurance Trust Agreement Dated 3/28/67 per Paragraph THIRD of Will Trust for Roberta S.Howlev Wife,Fund A PittsburQ:h National Bank Trustee Under Life Insurance Trust A2reement Dated 3/28/67 "per Para2ranh FOURTH of Will Tn st for Roberta S.Howlev.Wife Fun~ B Deponent fUrther says that all the above-named beneficiaries are living at this time except below: NAME DATE OF DEATH RESIDENCE ~IATTER OF THE APPRAISEMENT RQGERIVI.HOWLEX. Deceased OF THE ESTATE OF <- (Executor-Administrator must complete "As Reported"column #1.) 0 ...,"'C !:O..,~..,Cb Cb0III..,e.::l tiltil00tiltilH.....::l "'C...,:z Cb e..., III ~...0tilX"'C?6IIIcr"......co 0 .g ~ ~~Cb... til ~ ~tzj '<III ~~Cb "0~I'd~ Year ..... P.I<THE (No.Will Administration Late of ..CITY OF WASHINGTON -..'to."_..~ REPORT AND APPRAISAL Commonwealth of Pennsylvania County of WASHINGTON ~~:~",--~.,.-- "\if d I·O~)fJ0J,:]~~1\{S\/fA ~)ll ~I!~~l ~~0 ;:_~-!lS \:):\'8 S),;\,:1",:;:'\L::(~:";'d enc::~ ~>!:O en en en >-<: (')t":l t":l?"?"?" r5 ~>; ~:::: ~--.....-..-. -oo-oo~-oo-oo-oo .--..,...,...~ :0 :0 '"'"'"'"~.,..W (t)--VI Vi ";j ,.....;.,::-..;.,::-..o~ ~;PO::4- •..(t(;)(;)c.. pO pO ~ 'C .;\!'., fg ,]i ~~~J [":U1 fj!.Ut_i- -00 -00 ~-00 _-00 :'-."-..>.Q>:~. ;r.II ••U):tlfu-~~~.r;N,*...,~....:1::-~.~,.... ::l .C>r;,~c...!~.~," R CC-81 (2-64) COMMONWEALTH OF PENNSYL VAN IA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS INHERITANCE TAX DIVISION NOTICE OF FILING OF APPRAISEMENT Pittsburgh National Ban.1{&JaT:lCS R.Hovilev IN YOUR REPLY PLEA8E REFER TO 37....247....2 J In Re:Estate of__--""R~0tEg;~e""'r.........l;l,·..l.o........I.l..u.lo.l.it'lWiJLJie;.r,;~yl---------- ____---I.)V.l.!iTair.losu.hloli.nlEg.....t~Q:.IJn'__County - F He No.63=-69-22$ You are hereby notified that the~~Q~r~i~~~in~al~_ appraisement in the estate of __~R~o~g~e~r~I~1.~H~o~'~~1~e~yl__........ has been filed in the office of the Register of Wills qf ylashingt,OD County on January 19 ,19~.Said appraisement reflects the following valuations: Real Estate _--'-_ Personal Property __~1~O~3~,~544~·~.O~8~__ Transfers _ Total ....1...:!>I.O~3...,..<.1)11.:.).".,1.......:..:,Qlwl$_ As to such tax that is paid within three months·from date of death,a five (5%)percent discount is allowable.As to any tax that remains unpaid after one year from date of deatn,interest at the rate of six (6%)percent per annum is charged. Any party in interest who is aggrieved by an appraisement may appeal therefrom as provided by law. Dat e J_a_>l1_U_fl_"_r_J::..r_1-..:..9~,_1~CJ7~1 _ Dll.TE OF DEf'..TH:August 11,1969 Note:This is not a bill. Signed Title (File in Duplicate) COMMONWEALTH OF PEN DEPARTMENT OF R HARRISBURG IN YOUR REPLY PLEASE REFER TO(-'~37-247-2 '''..._~ ,Director Bureau of County Collections Department of Revenue Finance Building Harrisburg,Pennsylvania Dear Sir: Roger 1-1.Ho\vley Re:Estate of August 1),1969 Date of Death Washington Count y 0 f -----,...--,:-A"'""=-:O>'="---- State File No.63-69-928 Pursuant to the memorandum of February 25,1958,concerning valuation of closely held business interests,I herewith request your advice concerning the value of the following: A.Corporations NAME OF CORPORATION BUREAU USE ONLY TYPE OF NO.OF INVENTORIED VALUE SUGGESTED VALUE SHARES SHARES UNIT TOTAL UNIT TOTAL l~OWLEY GENERAL TIRE SERVICES,INC COMM 200 2. 3. B.'Non-Corporate Interest NAME OF BUSINESS ORGANIZATION TYPE OF BOOK BUS.ORG.VALUE INVENTORIED VALUE SUGGESTED VALUE Remarks: ....II""'-""'-r'" I,.,__}"lLi...·_io ...~-iI for all requests under "B'" any of the above described v~r~~7ours,-/_dfr-~/V~ Inheritance ~s~t~ County of _ Form RCC -47-RI D§'j T.::-"••,'••'''''•.,.I ~.i;,.....~II U I'lo.. r,.~'(68) '--=C-=-OMM-O-N~WjEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT •."'!",. Estate of Howley (Last Name) Roger (First Name) H. (Initial) DATE OF DEATH 8-ll-69 FILE NO.63-69-928 REPORT OF INHERITANCE TAX APPRAISER I,the undersigned duly appointed Inheritance Tax Appraiser in and for the County of_----=.:I;T~a~s:=.:h::::i::.:n~g:.=t:..:::o::.:n:....__ Pennsylvania,do respectfully report that I have appraised the real and personal property as reported in the foregoing return at the values set forth opposite each item in the last column to the right in Schedules "A","B", "C",and "E". Dated:_--=1=..---=1:..<9_-.......7=1 _ REPORT OF THE REGISTER OF WILLS I,the undersigned duly elected Register of Wills in and for County,Pennsylvania,do respect- fully report that I have allowed deductions in the amounts claimed by deponent,except as to those items where a greater or lesser amount is set forth in the last column to the right in Schedule "F",which greater or lesser amount represents the sum allowed as a deduction. Dated:_ REGISTER OF WILLS $ 103,544 U8 1m t:;),l,08 INVENTORY Real Property (Schedule A) Personal Property (Schedule B) Transfers (Schedule C) Joint-Held Property (Schedule E) TOTAL GROSS ASSETS Less Debts and Deductions (SCHEDULE F) CLEAR VALUE OF ESTATE Valuation of life estates or VALUE AS REPORTED VALUE AS APPRAISED VALUE AS REAPPRAISED $$-------+-- FOR USE OF REGISTER ONLY Tax on $--;__~ Tax on $----------;--6%0 Tax on $---------1--Tax on $-1__10% Tax on $15% Exemptions * Total Estate -I-__ TOTAL TAX COMPUTATION OF TAX $--------+-- $--------+--- $--------+-- $-------+-- $--------+-- $---1.__ (*)As evidenced by Charitable Exemption Certificates issued by the Secretary of Revenue. Less tax previously paid BALANCE Less 5%of tax if paid within 3 months after death ::::::::::::!:t===== TOTAL TAX BALANCE :-------.j~ PAID $...JL BALANCE OF INHERITANCE TAX DUE $L Add interest at rate of 6%from to ---~C$---AMOUNT OF ESTATE TAX ASSESSED $. Estate tax paid $I BALANCE DUE $...JL- Add interest at rate of 6%from ------Ito----- FOR USE OF REGISTER ONLY ADJUSTMENTS NOTE:Where subsequent adjustments are made to the above computation of tax by the Register of Wills,for proper reason, same should be noted below,with short explanation. Will Administration (No. IN THE Year .~ MATTER OF THE APPRAISEMENT OF THE ESTATE OF ..ROGERl'I•..HOW.LEY .. Deceased Late of . County of vJASHIl'K}TON .l·IASHINGTON .. Commonwealth of Pennsylvania REPORT AND APPRAISAL •, '. . Fonn RCC-2 ... COMMONWEALTH OF PENNSYLVANIA DATE ......January...l.9".....l..97J.............., .DEPARTMENT OF REVENUE RESIDENT INHERITANCE TAX .....!.'J.~~..£l~.~R!.1...........:....:.................COUNTYBuREAUOFCOUNTYCOLLECTIONS ......... HARRISBURG,PENNA.17127 APPRAISEMENT FILE NO........?.?..~.§..?..:.?..~.?..........................".".""",,...... Whereas,.....................................Ro.g.e.r....H.....Hm1ley...........................................................late of ............J~as.hingto.n ............................................................ in the County of ...........................Wa.s.bingt.on..........................................................................Commonwealth of Pennsylvania,having died on the ....................................l,J..'t.h..............................................day of ..................Agg~g):t........................................19......9..9,seized and possessed of an estate subject to Inheritance Tax under the laws of the Commonwealth of Pennsylvania; Therefore,I,ALFRED TOSI an appraiser duly appointed according to law,.........................................................................;............................................................., having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future Interest In this estate is transferred in possession or enjoyment to collateral heirs of the decedent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer inheritance taxes at the lawful collateral rate on any such future interest. Unit AppraisementDescriptionofAssetValuesMadeforInheritance Tax PurpoleS $ PERSONAL: See conv of schedule liB II attached to aooraisement 103,544 08 Total 103,544 0$ , .. .." ., ; plumber and Stroet)................W ..~--h.l ~~,Penna.~......·-····~·-.······lJ(·p~;..·om;;~) ................VJashington .County RESIDENT INHERITANCE TAX APPRAISEMENT Estate of .............Roger.J{•..Howley . Deceased. Late of v{q,$hingt..9p..... Date of Death,J5.::':'.:;u.~q.9. Appraisemcl!t Docket Vol.,..3.7 .. Page,.?47.~?No 9..3..~q.9.::':'.94.$... Filed in Register's Office,~~.1:~.~J9 ?.:I; Amount of tax.due,$. DEPARTMENT OF REVENUE Received, Examined and Approved,. Wrote abo.ut Appra.isement, Appeal f,.om Appraisement,.. Entered and charged,.. AND AGENT OF THE COMMONWEALTH ';i F:i;'~CC~,,!O ..- t..,'--....\ -/"_"-6F~I~OF.':'1E ''- ,REGISTER 0~'LL6 OF Washington COUNTY ,"~ STATEMENT OF DEBTS AND DEDUCTIONS ~\_~1/~ DEDUCTIONS ALLOWED IN THE SUM OF ..",........$'".... DATE APPROVED •......, Register of Will••Age"1 ESTATE OF Roger M.How]ey L.ATE OF'__..J:W.uailws;;Lhu.li..n"'-1<J...t...Q~n~rt.......:P!r...liOe.lJn~n!.ts;!.,y~l.Jlv:.£a~n~l.:!=.·!:::!a'--__ DATE OF FIL.ING APPRAISEMENT December 7,197~AT5 OF DEATH August 11,1969 DATE NO.of NAME OF PAYEE REMARKS AMOUNTVOUCHER 9/2 1/69 Russell Marino.Reqister of Wills Certified Copy of Will 'i 8.50b q /n/~q 'Rll!=:!=:pll Marino Rea.and Clerk of Orphan's Court 1 Short Ctf.1.00 Q 11 h It:.Q ...-~r.!;1n'lI"'\V'p .Tr ADnraisal fee re household Goods 40.00 9/1 S/69 James C.Bane,Esquire Advertising Letters 14.00 9/2 ~/69 Russell Marino,Reg •and.~.LC3:L:<l\_Clerk of Courts 2 Short Ctfs.2 100 9/2 ~/69 Observer Reporter Publication of Executor's .L~U (;t;:::1.4 •IVV , n I n Icn ~'[;'-M n ;:lnn ~David Miller,-Consultation 25 00R.t1.D. 10/~/69 Sol Mintz Merchandise 158 20 10/t29/6~R.E.Krause Druggist Drugs 23 59 10,(129/6c J.A.Runao Per Statement 13 64 1nJbe Jt:.c 2\.rr/"l'W'Tn,..Per Statement \:67 ()9 10/1?9/6c George Washington Hotel Services 47 55 ---J,.:'J !-Itl!Icr n~.j;..j;.~'1\T~.j;.~~-...1 t:l.:31"\'".';"':31 .;1"\rp r-;T 52-54 West Maiden(/·St...",......~I,..,.. J ...~..,..=.......:t •..--oj ...vv 214 -16 S.Main St. Washl.ngton,PennsyTvanl.a ::>5 IUU 10/t29/6S Norma ~G.Heard :Funeral Home Funeral Expenses L,~.L4.I~U -• 12/P.l/6<;I.Newton Chadwick Agent comes creeK .uO,GJ i:lU.UJ..-,.vu Gas nroduction 12 .23 COMMONWEALTH OF PENNSYLVANIA } COUNTY OF -,---_______ss: I.-----~----------------------_H£REBYCERTIFY.THAT.TO THE BEaT OF lilY I<NOWL.EDGE AND BELIEF.THE FOREGOING IS A JUST AND TRU E srATEMENT OF DEBTS.FUNERAL EXPENSES AND EXPENS9 OF ACMINISTRATION SUBMITTED TO THE EST"'TE OF DECEASED.AS DEDUCTIONS FOR INHERITANCE TAX PURP08ES. ---(L..5.1 SWORN AND SUBSCRIBED BEFORE ME THIS DAY 01"------1._ ~------------ DEDUCTIONS ALLOWED IN IJ7'f~~THE SUM OF $. /0-/'-7..··..···..··l···..·..··· STATEMENT OF DEBTS AND DEDUCTIONSOF--,.COUNTY ~.l.lO,r. f",OF~'C~OF THE " ~'---T REGIST~O~~LL6 AND AGENT OF THE COMMONWEALTH ESTATE OF L.ATE OF _ DATE OF FILING APPRAISEMENT ----DATIi OF DEATH _ DEDUCTIONS FOR Gary C.Goodl~n,Ass~stant V~ce Pres~dent HEREBY CERTIFY,THAT.TO THE BE.r OF FUNERAL EXPENSES AND EXPENSES 01" By GEORGIA P 'j ,NARAS,Notary Public Pittsburg ,Allegheny Co.,Pa. My Commission Expires Marcil 15,1Q7li J,Pi.tts):m""gh Nati nna1 Bank "MY KNOWL.EDGE AND BELIEF,THE FOREGOING IS A JUST AND·TRU e:STATEMENT OF DEBTS, Al:lM'NISTRATION SUBMITTED TO THE E8T~TE OF Roger M.HQwley INHERITANCE TAX PURPOSES. -- DATI!:NO.OF NAME OF PAYEE REMARKS AMOUNTVOUCH"II 12/6/69 Russell Marino Reg.of Will I:i 5 Short Ctfs.5.00 1 I')h I.,n 1<',...::IInli"~'1,,(:M n Robert McC.Coyle M.D.Professional Services 1,5 00 211~/70 ~Phone Calls to Washington- -.,..,.,.....4""1'a c",1 1 I')1 rhQ 1 Ih~ '~ .1/QI/.,n T ,::Ill -Service Balance 1969 Income Tax 394 25 R 11 h I.,n TAli 1 (:nn B.Rizzi.M.D •Professional Services 208 00., 11 1 .,I.,(pi f-'h::::hll""t'Th N::If-i nnal Bank Annraisal Charge in re 118 Cochran Road,Mt.T.oh::llnnn Ponncul ~r::lln i ::II I:\n nn 1 1 A 1/'71 .T",..,..,,,,,,c:>ro o "...."'"'RcrT"i,...o "Roi rn,...rilint'T,i n'ventory and balance of,"l'>nn ~~ ';)/.1 1/71 Telenhone Calls to Minneapolis 11/4/70 1 16 212Is /71 Dr H.M.Cohen Professional Services 60 00 ,.A.. (' 1';»)11fl /71 Pi +-1"'C',NrI+-i nnal Bank Annraisal Fee in re ~14-2l .\-:S.Main St.Wd.4 Washingto~ ('~,1 ..r"....4 ""~?I c;n- ~I')b 1'7"D4 r'h ·M",,~4,",....""1 'R::Inli"-'(:~'-.&-i nn •1:\.171:\Inn-, '>.L"lh L ......T __•__,..n ___.'c 1<'00 I L1 hnc;Inn "r- A ./')11 ./'7 "l T"....""'''"'ro 0"...."'"~',...0 "Roimhll rn,...rilint'T-first and final A/C 25 00 ••Ii L j8H inQred .sa Fay cost of transferr~ng -..C"....~,."....Lin nn (,;,........~/"A",,~7~S't>..I COMMONWEALTH OF PENNSYLVANIA }S.:<'il :(667iYTOTAL--- COUNTY OF ~~EGUENY - IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNi. ORPHANS'COURT DIVISION IN RE: ESTATE OF 0(ROGER M.HOWLE Y, z0(>.~Dec eased. UIz Z 1&1'0. ) ) )No.928'of 1969 ) ) ), the estate of Roger M:Howley,deceased,at Number 63.,.69-92<.. THE COURT: 'J• zoI-~Z :tUI 0(BEFORE:~ r:~ I%:I-UI ~.APPEARANCES: 0( u o:J.., :tl-I'(II uiI%:1&1 l-I%:o0.1&1II: ~TIME::JoU ..I<uii:l.I.o TRANSCRIPT OF ,PROCEEDINGS THE HONORABLE PA UL A.SIMMONS, Judge of the said ~ourt. JAMES C.BANE,ESQ.,of Washington,Pa., repres enting the Accountant. JONF.NIVUS,ESQ.~of Pittsburgh,Pa., representing the widow,Robert S.Howley,ard James Howley,son. Wednesday,October 31,1973,at 10:00 o'clock. A.M .. This is the time and place set for the matter involving in the Court of Common.Pleas of Washington County;Pe nnsylvcip.ia,.,-,'/ ..•j ;~.. •Orphans I Court Division.".',.r' MR.BA NE:If the Court please,I would like.the :r:,ecord to show,. ,.:~,.'~!'",I"'I" that pres ent at this hearing is Mr.Jon ~ivupj Attorney at Law, ..'I .t ~ ..2 representing,Roberta Howley,the widow,and Jame$'Howley,thj= son. THE COURT:Mr.Bane.did you give proper notice-to any C?ther interested Court. hearing on this. Ochiltree..I lave the return receipt wh ich I shall present as the record.sir,and your address and so on? .. My name is Jon Nivtls.3010 Mellon Bank Building, And Mr.Nivus,would you enter y~ur appearance for While the tipstaff is doing that,I should also like ,to havE At this time.we would like to have our tipstaff announce Yes.Proper notice was given by certified rnail to Suzanr e of Pitts burgh National Bank.the trus tee,is ali:>0 present in the record show that Mr.Robert J.~iley,Assistant Vice Pres dent pa'rties? an exhibit.Following receipt of that,Mrs.Ochiltree 'called m p agreed to the memorandumwhicbwe filed with.this Court. this case to see if any interested party might be nere for the and talked to me on the phone,and was very happy that we had a I ",' ,..~ MR.NIVBS: THE COURT: MR.BANE: THE COURT: MR.BANE: '.e :!:z<>oJ>-lI)zZ 1&1Do i0.... ClZ :tlI)<,-;: ...:u it...lI)e 0 oJ:!:~. 0 :J.., :t...,.. N iii ffi'...lI:0Do•1&1 lI:...lI::J 0U oJ<,uii:II.0 e Pittsburgh,Pa.•I represent Roberta Howley,the life tenant, and James Howley,the rema inderman in this matt.er. THE COURT:Mr.Zermani.did anyoneres pond to your ~all ? MR.ZERMANI:I received no response;Your Honor.; ,,-,. " 3 THE COURT:'".Are there any persons i~the Courtroom who !la e not spoken in this matter Interes ted in the estate of Roger M: Howley,other than the two attorneys and t,he representative'from tne Pittsburgh National Bank? (NO RESPONSE) A copy of that trust agreement has Or whether there had been a sale and The question involyed at ~he time of the What did the answer to this question depend on, Yes. that the ltrust would terminate so far as Mrs.Howley:vas National Bank as trustee,should administer the es tate for the provisions of Article 1~,Paragraph B.2.and B.;3.a.,b.,and been filed with the Court. c.of the trus t agr eement. original audit ~f the estate 'was Vi hether or not the p'ittsburgh benefit of Roberta Howley,the widow,in accordance with the regard to this matter? concerned.We have aU talked this over . !Iill:IIIl-ll:oDoIIIll: l-ll::ioU ..J< u iL~THE COURT: t-=ua:I-00'a ..J< U o ~., J:l-I'-til <~THE COURT:Hearing no res ponse,Mr.Bane,would you continue :'j >-~,on with your presentation 'and teU us what your contention is inzIIIDo ZoI-~Z :1:,MR.BANE:00',<~ i ,* ~,"~as to what issue?I think you raised it',in 'yo,ur:brie~: .',"•r -ill •(•~,r;,'~,l-..~1,t.~~....,~I ~.~It.'.t,,,.1 . MR.BANE:'The question was whether or not there was a<~ sale of the stock. the corporation. THE COURT: Now when I say stock,I mean the stock ,in,..:'~-~~ 1 f .~I'f ,j~ p .~f' , t t ~'• ,~'~;'t,f r'lI ...~!~. That would be the Howley'Generc:l.1'Tire',Crnc6rp,j:j.afed. -~-----------------------;-,---------;----- 4 The stock was retained,and the actual~.'inventoryand machinery., MR.BANE: THE COURT:. Yes.. As I understand it,thes:ock itself wasrrJbs,:old. "and equipment was sold.Is that correct? •That's correct. amplifY,your argument,if you.wi~l ? MR.BANE: MR.BANE: i (J;'HE COURT: >~ ,~>-III ZZ~. i THE COURT: ol-e>z J:III0( ~ So the stock is still retained as part of the trus That's right: N~wwould you tell us more about that and The corporation,of course,avers that the stoc~ I understand it,once this equipment,merchandise,inventory and whatnot was sold,money was then placed,in the name of the certificates representing its ownership ha,vepot been sold or .transferred. Yes.In the name of the cor poratism. Now may I ask this question,Mr.Bane:as This money now in turn will be invested by the corporation. THE COURT,: lfi0:IIII-0:oQ.III 0: I-0:::Jo~MR.BANE: 0( u ii:lI.o t-=~ 0:I-III C ~0( u c :;THE COURT: :tI-~" trustee,is that correct? MR.BANE:Yes. THE COURT:In proper in vestments. MR.BANE:,That's .right. THE COURT:Is that·tru~~Mr.Nivus? .' ". I.,t tI ~ 5 MR.NIVUS:Yes.The intent is the corporation will be ., liquidated and the mone~inves ted. ·Is that your understanding too,Mr.Bane,that the corporation will ultimately be liquidated and the money will bE invested in proper invest,ments,the trustee can invest it? ,at her death,to Suzanne Ochiltree,the daughter of the decedent, which shall be paid,to Roberta Howley during her lifetime,and and the daughter of R9berta Howley and James Howley equally. ment that we ha,ve'is that tha t money be invest~d,the incorne fron Yes.The suggestion that we have,and the agree-0( z MR.BANE:~>-UlZ Z \&ID. ioI-elZ :I:Ul0( ~: MR.NIVUS:The terms of ttie agreement are that upon her death it's to be divided equally between the son and daughter,and not go to Mrs.0chilt,ree. MR.BANE:That's about the size of it. THE COURT:Mr.Nivus,would you please give us your feelilg on this matter?As I understand it,you represent Suzanne Ochiltree.Is that true? MR.NIVUS:No',I do not represent Mrs.Ochiltree.I represent the widow,Roberta Howley. THE COURT:You agree that this is the proper interpretation? MR.NIVUS:Yes..Thi:=,is the interpretation that Mr. l ..I • Howley and Mrs.Howle'y;ha~e cC?n,tend,~~.shoul~/be,aqppt~d..~y t~E ~~•"!.....)-'.~ ,, ,, trustee. ,, THE COURT:And James Howley is the s on and you represen ./ ..,. " ... him. .'- MR.NIVUS: MR.BANE: Yes,I do. If the Courtylease,at this time,:'I would like to introduce into evidence the letter received b)your Honor from Mr.Nivus . I notified 'Suzanne 'Ochiltree,that this matter would be heard ,today,and that the audit was continued until October 31,in order . .. Als0,the Affidavit of Service made by me,thatiMR.BANE: o!-e>z x'VI«~ ~THE COURT:Would you have that marked as an Exhibit and«>.oJ _~..als 0,I think there is an AffidavIt of Ser'Vlc'e:brought in here. z1&1D. tha tc runsel for ea ch of the pa~ties to file briefs or memorandurr.., the residue of th~t.rust be ciivided equally.bet0een Suzli\.nn~ -l t ,.' payable to Mrs.RQw'le~eduring'her lifeti~e;':a'nd th~t;at the";dea'm I" It's :qly uriderstanding that call parties agree {.... ",·,IIL The income' ".'I,..,., Would you have that marked ·as an Exhibit? Ochiltree and James R.Howley. tha t the Court can direct that "the trust be continued. as they deeIll proper. ..=u 0:Iiic oJ« uC~THE COURT: :t......(II ..~MR.BANE: ui0:1&1 !-0:oD.1&10: !-. 0::>ou oJ« u ii:...o ,..,' THE COURT:.Do you have any further sta,temerit?I" MR.-NIVUS:No. THE COURT:Mr.Bane,do you want to move the admission of the two exhibits,please,"A"and "B"? MR.NIVUS:I move we accept the exhibits "A"and "B" into evidence. THE COURT:They are admitted in evidence. .(Proceedings Closed). :5z<>..I>UI ZZ1&1Q, I hereby certify that,the proceedings and evidence are contained ., and that this copy.is a correct transcript of the same.caus e. i~fully an<;l accurately in .the notes taken by me on the hearing of the above z x UI<?; ..=o ll:I-UIo ..I<o C ::J..,. J:f-"N The foregoing rec ord 'of the 'proceedi'ngs upon the hearing of the .'("~,..,••oj By the Court. ~~ ,PauI A.,,Simmons.'J,.t.n '•.\ iiill: 1&1l-ll:oQ, 1&1 :above cause·is hereby approved and directed to be filed. 0:::Joo ..I<Uii:ll.o.\ .1 ':t '.."'.. •~"..t ',,!, I ,. ~II:1: \ -' .T J'.,I'.,I ,, ,.