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Home My WebLink AboutOC1970-0311 - ESTATE OF BAKER......--,...~-~~.~.---r'.....,...",.---·~......---.f~-J'~~.~----.........--..--_-...---..-.,-~.--~-'~---".....__.~i '4>(.....,1,...,.,.•-I:.";"'''~.'\, • ,~II~N THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY.!.PENNSYLVANIA ORPHANS'&OUR'l'DIVISION '----~g.~._.....1/-71 q 70 ""'~ WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 SECOND AND PARTIAL ACCOUNT OF THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE UNDER INDENTURE DATED AUGUST 25,1936 BALANCE DUE -$190,213.87 € --... -~ "-""14.,'" 37;It>i .D!{(1S3_(?~5'b WORM'1740A. ~q*'M ~j.......... . .:t"':~<\ I ,10 (J!~rt!f!!that I hewp.(fllfen l(JfJttl MUltI}to till fjlJ'd"If•. ClJ"':{;:-m;d of f.ift<fiJing of the wIthIn {l,(}(Jf1ill1t /11 We I11tlHff{jt';J"'. e{~.·,':.'/5 i)~f 8i.11!L<f.e fi/Jd /J.i!/~oj (}fWr-t,mi {Hjj(/{JhtJdl#iJ{j /Jrtili/j [Ii,;..>""'!jJ,;r;!J b lj,:J.b3 -7D-/Dk ·;.;J'rt.1"-'~_'r..,A..,~J .,...r,,:,.;'f~""!"f'""~"vI ,~M",1 1ft fj'lj~"-~..;Y::.../~)..:,r:;.!';;-"';:1£-~'G.&.':;.~,+:t.'f;""'J ......})..~,...~~i';;'~~viift:"Y ///.;w';;;l.;/NlhZI/.........f.:;,:/::.../:::IJ f.J :!Y t(f'~._.~~.,_•..__...1ri 7f2 ~~~' .(,,a..'!::Q:idJ;L,««,;,«~".'«"~""'!<Ji~..v.=T""'~~_~1;t.V&it'~~.,_.~ /lcwnin.fJtml Gountfj,$$, , ) l .....",..g -"~-'- ".,,,,,..-.01r c;:) :3: ~= :;E;o~m::::Gco<;")c::r::.-cr.r_(/"J 0,"1 Z -J.~.'....~..,en ~~--~:~~..~ f""'~-');f""./.._..,O' C). :!..,.:~~;':':-::1 .:r~~.~g 119U1 to uJ~~~tiJv.~:::.: ,.7,the w;;hin'a~~~eO-lO';~~"O~~rl t'tr 'fir",atlOn.~en .~;6{~~~ Q..nll1't../;;!!"~prtl II rRexRowland,Esq. Buchanan,Ingersoll,Rodewald, Kyle and Buerger 1800 Oliver Building Pittsburgh,Pennsylvania 15222 (281-0770) ~--,-~.~-~>.Jo.-..~--..~."""'-'~ iII IN THE'COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT,DIVISION ,NO.oS 1/%./1)7/l WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 SECOND AND PARTIAL ACCOD;NT OF ' THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE UNDER INDENTURE DATED AUGUST '25,1936 lCllo"- " ; SUMMARY SCHEDULE A PRINCIPAL -PERSONALTY December 31,1969 (Date of dea::th of Edward L.Stockdale, Co-Trustee November 5,1969) Receipts Disbursements Receipts Disbursements Pages 3 -10 Pages 11 -13 BALANCE SCHEDULE B INCOME -PERSONALTY Pages 13 -14 Page 15 BALANCE NET BALANCE 198;470 02 8,256 15 190,213 87 14,172 93 14,172 93 o 00 190,213 87 The Balance Consists of the'Following: Principal -Personalty Stocks American Telephone and Telegraph Company 1,360 shares Capital Qyclops Corporation 8,489 shares qommon E.I.du Pont de Nemours and Company 250 shares Common 31,300 96 72,334 68- 1 00 _________~~__~__~~~___.J .. ,.'I, WALTER H.BAKER -ITRUSTFOR ANNE BAKER WEIMER ,NO.1830 . Stocks (continued) General Electric Company 167 shares Common 7,661 03 General Motors Corporation 340 shares Common 25,078 75 Philadelphia Electric Company 200 shares 3.80%Preferred 16,714 40 Reynolds Metals Company 200 shares 4 3/4%Preferred 10,364 03 Texaco,Incorporated 2,288 shares Capital 7,971 71 171,426 56 , Bonds-- United States of America Treasury Notes 5'3/4% $9,000 dated 11/15/67.due 11/15/74 8,862 38 United States of America Treasury Bills $10,000 dated 1/2/70 due 7/2/70 9,592 70 18,455 08 II I, I 189,881 64 Cash on hand 332 23 190,213 87 . I -2- '---- WALTER H.BAKER .TRUST FOR ANNE BAKER WEIMER,NO.1830 SCHEDULE A PRINCIPAL PERSONALTY RECEIPTS Edward L.Stockdale and The Union National Bank of Pittsburgh,Trustees Under Indenture dated August 25,1936 Awarded by Decr~~of Distribution dated May 9,1961 at No.413 of 1960 by The Orphans'Court of Washington County,Pennsylvania -reaward for further administration including the following assets held in kind and distributed as such at the values as shown: Stocks American Telephone and Telegraph Company 679.4328 shares Capital American Tobacco Company .80 shares 6%Cumulative Preferred E.1.du Pont de Nemours and Company 250 shares Common .General Electric Company 160 shares Common Montgomery Ward and Company 75 shares $7GOO Convertible Preferred, Class A Philadelphia Electric Company 165 shares 3.80%Preferred Texaco,Incorporated 560 shares Capital Universal Qyclops Steel Corporation 8,000 shares Common United States of America Treas~Bills $5,000 dated 1/14/60 due 7/14/60 -3- '------ - 31,626 76 12,034 25 10,806 09 7,058 15 13,625 28 8,299 91 4,873 90 , I " WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 Miscellaneous Paid up Insurance Policies on life of David P.Weimer,Jr. Northwestern Mutual Life Insurance Company Policy No.2738454 in amount of '$70,000.00 Connecticut Mutual Life Insurance Company Policy No.914856 in amount of $15,000.00 Equitable Life Insurance Company of Iowa Policy No.598051 in amount of $15,000.00 Less:EquAlization surcharge 1 961 June 16 Funds transferred from Income to cover apportionment expenses in re distribution to 'Anne Baker Weimer in accordance with Decree of Distribution dated May 9,1961 at No.413 of 1960 in the Orphans'Court of Washington County,Pennsylvania Purchase of Assets Stocks °00 °00 o 00 173,198 15 420 82 172,777 33 46 30 General Electric Company Connnon 9/3/69 7 shares at 84 5/8 602.88 Philadelphia Electric Company 3.80%Preferred 9/28/62 10 shares at 85 3/4 and 872.50 1 share at 86 1/2 87.94 11/28/621 share at 86 3/4'and 88.22 ,10 shares at 86 875.00 3/9/65 10 shares at 88 895.75 4/5/65 -2-shares at 88 3/4 269.71 35 shares 3,089.12 Reynolds Metals Company 4 3/4%Preferred 3/22/65 200 shares at 51 3/8 -4- I, I ,I WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 Purchase of Assets (c~ntinued) Bonds (continued) United States of America Treasury Bills 7/14/60:$5,000 dated 7/14/60 due 1/12/61 4,919.75 1/12/61 5,000 dated 1/12/61 due 7/13/61 4,934.20 7/13/61 5,000 dated 7/13/61 .due 1/11/62 4,936.50 1/11/62 5,000 dated 1/11/62 due 7/12/62 4,922.35 7/12/62 5,000 dated 7/12/62 due 1/10/63 4,921.75 1/10/63 5,000 dated 1/10/63 due .7/11/63 4,925.05 7/11/63 5,000 dated 7/11/63 due 1/9/64 4,917.30 1/9/64 5,000 dated 1/9/64 due 7/9/64 4,907.25 6/15/64 2,000 dated 1/9/64 due 7/9/64 1,996.18 7/10/64 7,000 dated 7/9/64 due 1/7/65 6,874.56 1/7/65 7,000 dated .1/7/65 ,due 7/8/65 6,861.05 7/8/65 7,000 dated 7/8/65 due 1/6/66 6,862.31 1/6/66 7,000 dated 1/6/66 due 7/7/66 6,833.05 7/7/66 7,000 dated 7/7/66 due 1/5/67 6,826.05 1/5/67 7,000 dated 1/5/67 due 7/6/67 6,826.19 4/11/67 1,000 dated 1/5/67 .dlie 7/6/67 996019 I 7/6/67 8,000 dated 7/6/67 due 1/4/68 7,809.28 11/17/67 1,000 dated 7/6/67 due 1/4/68 999.47 1/4/68 9,000 dated 1/4/68 .due 7/5/68 8,744.13 7/5/68 9,000 dated 7/5/68 due 1/2/69 8,747.10 10/3/68 1,000 dated 7/5/68 due 1/2/69 986.90 1/2/69 10,000 dated 1/2/69 due 7/3/69 9,679.90 7/3/69 10,000 dated 7/3/69 ________due 1/2/70 9,647.00 $133,000 SUB-TOTAL 130,073.51 1/2/70 10,000 dated 1/2/70. due 7/2/70 9,592.70 139,666.21 162,664.93 ., I. I I -~ Cash disbursed for purchase of the above assets 162,664.93 o 00 WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 Capital Assets Received 1 962 July 12 1 964 Jan.10 Received as holder of record 6/8/62 of 250 shares E.I.du Pont de Nemours and Company Common Stock 125 shares General Motors Corporation Common Stock at 47 11/16 (mean market value 7/9/62) Carrying value of 250 shares E.I.du Pont de Nemours and Company Common Stock reduced.to reflect mean market value.of 125 shares General Motors Corporation Common Stock Received as holder of record 11/26/63 of 250 shares E.I.du Pont de Nemours and Company Common Stock 90 shares General Motors Corporation Common Stock at 79 (mean market value 1/6/64) Carrying value of 250 shares E.I.du Pont de Nemours and Company Common Stock reduced to $1.00 balance to reflect $7,110.00 mean market value of 90 shares General Motors Corporation Common Stock 5,960.94 5,960.94 7,110.00 4,844.15 o 00 2,265 85 . I I 196 5 Feb.16 Received as holder of record 11/24/64 of 250 shares E.I.du Pont·de Nemours and Company Common Stock 125 shares General Motors Corporation Common Stock at 96.0625 (mean market value 1/6/65)12,007.81 Carrying value of 250 shares E.I.du Pont de Nemours and Company Common Stock is unaffected having been reduced to $1.00 by previous distribution -7- 0.00 12,0(-7 81 14,273 66 WALTER H.BAKER ~RUST FOR ANNE BAKER WEIMER NO 1830,•I Stock Rights Received American Telephone and Telegraph Company 3/13/61 735 Rights allocated value 0000 3/5/64 680 Rights allocated value 461 073 461.73 Carrying value of Capital Stock reduced to reflect above allocation 461.73 0 00 Gain on Sale of Stock Rights American Telephone and Telegraph Company Proceeds sale 3/30/61 735 Rights.·852.24 4/J/64 680 Rights 1,339.04 2,191.28 Allocated value 461.73 1,729 55 Stock Splits and Stock Dividends American Telephone and Telegraph Company Capital Received as a Stock Split 7/6/64 2 for 1 on 680 shares held 680 shares o 00 I Texaco,Incorporated ;Capital Received as a Stock Dividend 12/29/60 2%on 584 shares held 11.68 shares Received as a Stock Split I 8/15/61 2 for 1 on 572 shares held 572 shares I Received as a Stock Dividend I 12/16/64 5%on 1,144 shares'held 57.20 shares Received as a Stock Split I .8/21/69 2 for 1 on 1,144 shares held 1,144 shares 1,784.88 shares o 00 Universal Qyclops Steel Corporation Common Received as a Stock Dividend 1/23/61 3%on 8,743 shares held 262.29 shares 1/26/62 3%on 8,241 shares held 247.23 shares 509.52 shares 0 00 II000 -8- WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 . I Gain on Sale of Fractional Share Received as a Stock Dividend 1 964 Dec.30 Proceeds sale -0.20 share Texaco,Incorporated ;Capital Stock 17.55I Carrying value 1.39 i 16 16! Sale and Conversion of Assets Without Gain or Loss /, 1 960 ,k-'., !July 14 Proceeds maturity -$5,000,United States of America Treasury Bills ..;,.... dated 1/14/60 due 7/14/60 4,873.90 Decreed value 4,873.90 0 00 Proceeds sale and maturity at various dates of $133,000 United States of America Treasury Bills dated and due at various dates 130,073.51 Carrying value J 130,073.51 (See sub-total page-6).0 00 .1000 I Gain on Sale of AssetII I 1 969 I Jan.22 Net proceeds sale -$10,500 IMarcor,Incorporated Debentures,6 1/2%I Idated11/1/68 due 10/15/88 I$10,000 at 85 1/2 and I 500 at 83 1/2 8,940.32 Carrying value 6,600g00 2,340 32 I I I I I I I I I I '. -9- WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 Miscellaneous Dividends received on paid up Insurance Policies on the life of David P.Weimer,Jr. 433.30 459.20 495.60 499.10 645.40 655.20 770.00 783.30 899.50 The Northwestern Mutual Life Insurance Company Policy No.2738454 8/26/60 9/14/61 8/27/62 9/5/63 8/26/64 9/27/65 9/22/66 8/28/67 8/28/68 5,640 60 ., \ 77 g 40 99.30 100.20 110.70 112.05 127.50 129.30 165.90 184.80 Connecticut Mutual Life Insurance Company Policy No.914856 8/26/60 9/14/61 9/7/62 9/5/63 9/9/64 9/27/65 9/22/66 8/29/67 9/4/68 Less:Single premium for additional Indemnity coverage 986 70 ' Equitable Life Insurance Company of Iowa Policy No.598051 8/26/60 9/14/61 8/17/62 9/5/63 9/9/64' 9/27/65 9/22/66 9/10/68 55.80 72g75 73g65 74.70 83.55 85.20 87.00 126.75 659 40 7,286 70 198,470 02 II -10- WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 DISBURSEMENTS Administrative Expenses 1 960 Nov.9 James H.Douglas,Clerk of Orphans'Court of Washington County,Pennsylvania Fees for filing Deed of Trust and .' First and Partial Account ~00 I I 1 9 6 1 I June 23 Internal Revenue ServiceI I Documentary Stamps for transfer of various , securities =-5 56 I1965 Jan.15 Internal Revenue Service 1964 Fiduciary Income Tax 106 33 1 966 Jan.14.Internal Revenue Service 1965 Fiduciary Income Tax 9E3 29 ./1,147 18 Loss on Surrender·for Exchange'-I.,' '~I :~1 968 -Jr Dec.18 Surrendered 75 shares Montgomery Ward and Company I $7.00 Convertible Preferred Stock Class A , Carrying value 12,408.07 Received in lieu of above $10,500 Marcor,Incorporated Debentures,6 1/2% dated 11/1/68 due 10/15/88 6,600.00 I 5,808 07 II I ; , -Il-I lI, I WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 Loss on Sale of Asset 196 5 Feb.16 Net proceeds sale -80 shares American Tobacco Company 6%Cumulative Preferred Stock at 142 1/2 Carrying value 11,341.61 12,034.25 692 64 196 9 Apr.25 The following Policies were surrendered for payment to Anne Baker Weimer,beneficiary in accordance with Article One-A of Indenture dated August 25,1936 Northwestern Mutual Life Insurance Company Policy No.2738454 Carrying value Connecticut Mutual Life Insurance Company Policy No.914856 Carrying value Equitable Life Insurance Company of Iowa Poli~.No.598051 Carrying value Distribution Anne Baker Weimer The following Rights and Stock Dividends received subsequent to filing First and Partial Account on Stocks Decreed at No.413 of 1960 dated May 9,1961 Delivered 7/21/61 55.5672 rights American Telephone and Telegraph Company .48 share Texaco,Incorporated Capital . 22.29 shares Universal Qyclops Steel Corporation Capital ..12- o 00 o 00 o OC oeooeo 193 ~2 o 00 , 1,. WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 Distribution (continued) To Income -Personalty Jccount for distribution to Income Beneficiary of Stock Dividend Shares . ("in kind"or the proceeds sale thereof)deemed to be Income under.the Principal and Income Act of 1947 as amended September 30,1963 Cash Proceeds'sale 12/30/64 0.20 share Texaco,Incorporated .Capital.Stock 17 55 57 shares Texaco,Incorporated Capital Stock 397 1) 608 26 8,256 15 SCHEDULE B INCOME PERSONALTY All Income received and Disbursements made to August 1,1969.(date of last Annual Statement)have been accounted for by Annual Statements rendered by the Trustees to Anne Baker Weimer,income beneficiary RECEIPTS Balance in accordance-with last Annual Statement ending August 1,1969 Income received subsequent to statement ending August 1,1969 Dividends -Stocks American Telephone and Telegraph Company Capita],. 1,360 shares 10/2/69 .-13- 816 00 1,202 90 ,5 --- - WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,NO.1830 Dividends -Stocks (continued) Qyclops Corporation Common 8,489 shares 9/30/69 -12/30/69 7,852 33 E.I.du Pont de Nemours and Company Common 250 shares 9/15/69 -12/15/69 687 5C. I General Electric Company,Common 167 shares 10/27/67 108 5~ General Motors Corporation I Common I 340 shares 9/10/69 -12/10/69 799 00 I Philadelphia Electric Company 3.80%Preferred 2UO shares 8/4/69 -11/4/69 380 00 \,...Reynolds Metals Comp~i 4 3/4%Preferred 200 shares 8/5/69 -11/5/69 237 50 I Texaco,Incorporated ICapital2,2~8 shares 9/11/69 -12/15/69 •1,830 40 <.12,711 28 I Interest -.Bonds United States of America Treasury Bills Accumulation on $9,000 to 11/15/69 2'58 75 14,172 93 -14- WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER NO 1830·,• DIS BUR S E ME NT S Adminis trative·Expense 1 969 Dec.31 The Union National Bank of Pittsburgh I Accountant's compensation 310 58 I, I Distribution I, I Payments in accordance with Article One of Trust Indenture dated August 25,1936 Anne Baker Weimer Payments account Net Income 9/30/69 6,717.24 12/31/69 7,145.11 13,862 35 I I 14,172 93 II, I ,~~, I I I I I, I I , I -15- -_. COMMONWEALTH OF PENNSYLVANIA COUNTY OF WASmN'GTON J.DONALD PATTON,Senior Vice President of THE UNION NATIONAL BANK OF PITTSBURGH,the above named Accountant being duly sworn according to law deposes and says that the disbursements shown in the account have been made to the parties entitled thereto and that the account as stated is true and correct as he verily believes. it~=e-l:ll<ifAd:;';e~n':'::t"""'---- Sworn and subscribed before me this "],0 ~day of ....)M~'__~~~.;;:.:;;..,1970. REQUEST FOR DISTRIBUTION Notary Public CLAIR A.NEWT(~N,NOTARY"PUBl.IC PITISBURGH.JllLEGHENY COUNTY My COMMISSION lXPIRES fEB.21.197ft,.. Accountant requests that distribution be determined by the Cou~t in accordance with the'Petition for Distribution to be offered in evidenc3 at the audit of this account. THE UNION NATIONAL BAKKOF PITTSBURGH BY ~~ent r i· /.Fo:m for ~Trustee Jrtitinn §ur Au~it 3Jtt IDl1e (@rpl1attS 9 QInurt of lIusl1tugtntt Olauuty .J~p.:9:.~r.J;p.g.~P.-.1f.Y.r.~q~t.~.g,4.~P,P..t 65.".J,9.3.9... For.~~H;.QP.9 ~J;Lr..ar.t,;\..M I.\g,C.9.ut\t... .Anne Baker \<Ieimer Trust #1830..........._. Filed at N o 3.l1 of 1911f10 Fiduciary...'J:he llniQn...Nati.onal..B.ank.o.f E.ittaburgh, ...~.~.!~.!~.~~';I;,~~!:l.!:~~_.. Place of record Washington,County,Pennsylvania of appointment1n:ti.er y..J..y.Q~Tr.us.t..D.o.cket .. Date of trust~...T.r.ust...Illden.tur..e...dated..Augus.t...25,1936,attached hereto as Exhibit "All If there have been former accounts filed in this estate,list:No.413 of 1960 Orphans I Court (First and Partial Account,.Anne Baker W~imer Trust #1830)~,'., Reason for filing this account..P.~th ..g.t..J.d.w.uQ...1c ~to.ck<1ale.~QQ:::'J:r.mtt~~.,.Qn..ll/.5/693.... All persons having any interest,vested or contingent (including claimants),in the fund now before the Court, with the nature of their interests are:. .Anne Baker We~er,Life Tenant,"lith right toBwithdraw limited.~1Wt o:f principal.Wa.1.ter B.\~eJJller'-orn:December 10,J.I#~. kmy .Anne Weimer Ritter -Born:July 1,1929 Issue of .Anne Baker .Julia \~eimer.KniseleyMong .-Died:May 2.3,1963 .~eimer Survived by . Joseph Duncan Kniseley -Born:October 9,1950 Contingent Beneficiaries Possible issue of Walter B.Weimer and issue of irJJIy .Anne Weimer Ritter who are David Michael Ritter -Born:Aug~~t 27A 1953WilliamJeffreyRitter-Born:.Feoruary ~1955SusanDuncanRJ.tter -Born:#pril 10,i 57 .Andrew can ij.itter .-or"ril 9 Christo:pher Burns Ritter -Born:S~!-ew.ber 20,19to.Anne E1J.zabeth Ritter -Born:1/~/b3 Jonathan Baker Ritter -Born:9718/65PossibleissueofJQs~~h Duncan Kniseley and if.no issue surviving then divided to thesharesfortheotherW-eimer children or their issue.No ClaimantE I All of j3aid parliehs :r:..eceived .notice IiasfI:eauired by the Court Rules.6Di!"'1't!l~J![:lB:~'Rm1bnm:The fund now DefOre t e Court IS subject to t e olloMng taxeS":'• None Set forth any legal problems requiring adjudication by the Court or difficulties that must be net in distribution: In accordance with Article Ten of the Deed of Trust Indenture dated August 25,1936,upon the death of Edward L.St~ckdale,Co-Trustee,U.Grant Miller of Washington,Pennsylvania was named successor or alterna.te individual trustee.U.Grant Miller has dec::'ined to serve which is evidenced by his letter attached hereto as Exhibit flAil. Anne Baker Weimer has the right at any time or from time to time to change the individual and the corporate trustee·named during her lifetime and has now exercised this right appointing William G.Stewart,Successor Trustee,as evidenced by letter marked Exhi-:>it ''B II •The acceptance of William G."Stewart as Successor Trustee is attached hereto and marked Exhibit IIC'l .. Balance for distribution per·alwount, I "- I Principal $;J"9.9.,.?;J,,J~.'91... Additional debits not shown in a~count: (Indicate whether income or principal) See Additional Receipts and Disbursements -Exhibit liD" Principal $841..48 .'" Income 16.029.91 Income $!?:~P:~. Total additional debits Additional credits n;t';hoW;in'a«:count: (Indicate whether income or prindpal) See Mditional Receipts and Disbursements -Exhibit liDII Principal $627.00 Income l4,363~57 Total additional credits $~~.t.§~g.~}?.. $.......J:tu.9.9.9.57... Balance for distributi01 Principal $..J:9.9..1.4.?~.!.)5.. Income $1.65.7..34 :. Total $..J·.2gJ.9.§?..~.~2 . If the balance for distribution is Jot in cash,list items held in kind with carrying value designated,and if this is a distribution account,file electio:l.s to take in kind for all items so listed:. See Additional Receiptf:and Disbursements -Exhibit "D". ..'t 6@ .,:~-...~;r:.:,'""'J'J~~.} .'.,, , University Club Pittsburgh,Pennsylvania July 31,1970 The Union National Bank of Pittsburgh P.O.Box No.-837 Pittsburgh,Pennsylvania 15230 Attention:Mr.J.Donald ::Fattoh,Senior Vice Pre~iderit In re:Walter H.Baker Inter Vivos Trust Under Indenture for Anne Baker Weimer (#1830) Dear Mr.Patton: Under the above Trust Walter H.Baker had appoillted Edward L.Stockdale and The Union National Bank of Pittsburgh as Trustees and indicated that I was to be the Successor or AlternateIndi~idualTrustee. Mr.Stockdale died on November 5,1969. This letter is to advise you that I will not accept the Successor Trusteeship as the Individual Trustee as provided under Article lOth of the Trust Indenture.. Very truly yours, U.~~y U.Grant Miller Exhibit'''A'' l LeMoyne Avenue Extension Washington,Pennsylvania July 31,1970 The Union National Bank of Pittsburgh P.O.Box No.837 Pittsburgh,Pennsylvania 15230 Attention:Mr.J.Donald Patton,Senior Vice President In re: Dear Mr.Patton: .walter H.Baker Inter Vivos Trust Under Indentu:-e for Anne Baker Weimer,#1830 Under the Walter H.Baker Individual Trust for my benefit which was created under date of August 25,1936,Edward L.Stockdale was the Individual Trustee to serve and under the provisions of that trust by Article lOth,Mr.U.Grant Miller was indicated as the successor,0r alternate individual trustee. Mr.Miller has declined to accept his appointment and complying further with the term,s of the trust,I have the right to indicate the successor individual trustee and exercise that right.I appoint William G. Stewart of 135 LeMoyne Avenue,Washington,Pennsylvania 15301 as the Successor Individual Trustee to / act~~~;S:J Anne Baker Weimer Exhibit "B" IN THE COURT OF COMMJN PLEilS WJI.sHINGTON COUNTY,PENNSYLVllNIA ORPHANS'COURT DIVISION IN RE EST.ATE OF W.8LTER H.BAKER,INTER VIVOS TRUST UNDER INDENTURE FOR .ANNE BAKER WEIMER,TRUST #1830 NO.311 OF 1970 ACCEPTANCE OF APPOINTMENT AS SUCCESSOR INDIVIDUAL TRUSTEE UNDER TRUST INDENTURE WHEREAS,Under the Deed of Trust Indenture dated August 25,1936, between Walter H.Baker,Grantor,Edward L.Stockdale and The Union National Bank of Pittsburgh,Trustees;and WHEREAS,Edward L.Stockdale the Individual Trustee died on November 5,1969;and ~,Article TEN provided for a successo~or alternate individual trustee hereunder shall be U.Grant l'filler of ltlashington, Pennsylvania:-novi -.6f Pittsburgh,Fennsylvania;and WHEREAS,U.Grant Miller lias declined to serve which is evidenced by letter attached hereto as Exhibit A;and l.JlIEREAS,.Anne Baker Weimer has the right at any time or from time to time to change the individual and the corporate trustee herein named during her lifetime and has n01:1 exercised the right as evidenced by letter attached hereto as Exhibit B and appointed William G.Stewart of 135 LeMoyne Avenue,Washington,Pennsylvania 15301 as the the successor Individual Trust e to act with The Union National Bank of Pittsburgh. NOW THEREFORE,William G.Stewart does hereby accept the appoint- ment as the successor individual trustee with The Union National Bank of Pittsburgh the Corporate Trustee. Executed this ~?I day Of ~_*-_~,1970. w~tzL William G.Stewart Exhibit "C" ---_.._-------- ; 17111 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY;PENNSYLVANIA ORPHANS'COURT DIVISION NO.311 OF 1970 WALTER H.BAKER TRUST FOR ANNEBAKER WEIMER,NO.1830 ADDITIONAL RECEIPTS AND DISBURSEMENTS TO THE SECOND AND PARTIAL ACCOUNT OF THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE UNDER INDENTURE DATED AUGUST 25,1936 August 24.1970 SUMMARY SCHEDULE A PRINCIPAL -PERSONALTY I Receipts Page 3 199,311 50 Disbursements Page 4 8,883 15 IBALANCE190.,428 1 35 SCHEDULE B INCOME -PERSONALTY ) Receipts Pages 4 - 5 30,193 84 Disbursements Page 5 28,536 50 BALANCE 1,657 34 NET BALANCE 192,085 69 , The Balance Consists of the Following:-.. IPrincipal-Personalty I.I Stocks American Telephone and Telegraph Company 1,360 shares Capital 31,300 96 Cyclops Corpor~tion 8,489 shares·Common 72,334 68 E.1.duPont deNemours and Company 250 shares Common 1 00 General Electric Company 167 shares Common 7,661 03 General Motors Corporation 340 shares Common 25,078 75 ,, Philadelphia Electric Company 200 shares 3.80,%Preferred 16,714 4C Exhibit "DII J .. '''1... I· WALTER H.BAKER TRUST..__._.,,_.__.._M....__:-.::==--::::======================;;=====.=-o'--_.... .___._.._..._....___.·-=;=--=-r····----:.:..~·-·;·_·- Stocks (continued) Reynolds Metals Company .200 shares 4 3/4%Preferred Texaco,Incorporated 2,288 shares Capital Bonds United States of America Treasury Notes $9,000 dated 11/15/67 due 11/15/74 United States of America Treasury Bills $10,000 dated 12/31/69 due 12/31/70 Cash on hand Income -Personalty Cash on hand - 2 - 5 3/4% 10,364 03 7,971 I 71 8,862 9,666 20 I I !I I I !I I 56 1 . I 171,426 I : , I ,, i ; I !, I i t I ; i I , I I 18,528 158 : iI ; I !I 189,955 14< I, ; 190,428 :35; , I 1,657 ,34' !! I 192,085 :69! i i I I "1.& / ~' ;! i ,19-8,470 !021 SCHEDULE A PRINCIPAL PERSONALTY~' RECEIPTS Receipts in accordance with the Second and Partial Account filed WALTER H.BAKER TRUST,=::::::",::'.-::..:::='::',-:,::...-_,=-=-=-=:=:=======~~~==~=====:::::::==::::;=====:::;:==rr=:'="-='.=-'''::._,_.."-_..----'1'"... 1 Purchase of Asset United States of America Treasury Bills 7/2/70 $10,000 dated 12/31/69 due 12/31/70 Cash disbursed to purchase the above asset 9,666.20 9,666.20 Stock Rights Received American Telephone and Telegraph Company 5/1/70 1,360 Rights allocated valul 0 001 ! II 0 !00:!", Gain on Sale of Stock Rights American Telephone and Telegraph Company Net proceeds sale 5/4/70 1,360 Rights Allocated value 841.48 0.00 I I 841 i 48\ !l Conversion of Asset Without Gain or Loss 1 9 7 0 July 2 Proceeds maturity -$10,000 •\ United States of America Treasury Bills dated 1/2/70 due 7/2/70 Carrying value 9,592.70 9,592.70 i ! o !00 i , I, I 199,311 i 50! -3 - f .,-,.J"• ,.,'.& DISBURSEMENTS WALTER H.BAKER TRUST-,:,::,::,:,::,:;.":",';:::::":....:'::.';:'--:=":=-=:::'~==-======~~~==~~===~===:;:=====:::;=::..::::;rr=-::.-----_:.:.'_::'..:.::.c·r':., I I Ii Disbursements in accordance with the Second and Partial Account filed 8,256 115 I !I: 197 0 Apr.1 July 7 Administrative Expenses Russell Marino,Register of Wills of Washington County,Pennsylvania Cost of filing Second and Partial Account Buchanan,Ingersoll,Rodewald,Kyle and Buerger Attorneys'fee 37 00 I i 590 I OO'~ ;I 1 ! I;:i I !I!, i : ,I, ! .627 i00 ! I+------+1:-, 8,883 115: Dividends -Stocks Reynolds Metals Company 4 3/4%Preferred 200 shares 2/4/70 -8/3/70 Philadelphia Electric Company 3.80%Preferred 200 shares 2/2/70 -8/3/70 Receipts in accordance with the Second and Partial Account filed I ; I I I !i I I 193!I I :I I I!,, I 1II, i ! ! i i i I I I Ii 14,172 2,652 00· 8,064 56 IIII 625 Del 325 6~:I iI 578 oel i : 570 OC :!I 356 21 Common Cyclops Corporation Common 8,489 shares 3/31/70 -6/30/70 General Motors Corporation Common 340 shares 3/~0/70 -6/10/70 E.1.duPont deNemours and Company 250 shares 3/16/70 -6/15/70 General Electric Company Common 167 shares 1/26/70 -7/27/70 SCHEDULE B INCOME -PERSONALTY RECEIPTS American Telephone and Telegraph Company Capital 1,360 shares 1/2/70 -7/1/70 - 4 - .,',.• I''''A WALTER H BAKER TRUST.-~--_..._..~..---1-Stocks (continued) corporated Capital I hares 3/11/70 -6/11/70 1,830 40 i 15,001 86 onds 5 3/4% I I tes ,of America Treasury Notes 751 I i 11/15/69 -5/15/70 258 I!i tes of America Treasury Bills I,Itionon, °to 1/2/70 353.00 , I°to 7/2/70 407.30 760 30,I. 1,019 05 I I30,193 184 1 I DIS BUR S E MEN T S i I I- s in accordance with the Second and t filed 14,172 '93I ve Expense I National Bank of Pittsburgh ~I nt's compensation .400 011 .I n accordance with Article One of I nture dated August 25,1936 ! I I I ! er Weimer I IiI ts account Net Income ,II 70 7,027.50 I i /70 1,200.00 . 70 5,736.06 I 13,963 56: t 28,536 501 II I i - 5 -II I Anne Bak Paymen 3/31/ 5/8 6/30/ Payments i Trust Inde The Union Accounta United Sta Accumula $10,00 10,00 United Sta $9,000 Texaco,In 2,288 s Administrati Distribution Disbursement Partial Accoun '"Interest - B Dividends -' ---:-~-:7,.=::::-::·_--_~_-_-. 197 °Aug.24 Set ~orth accountan~s suggestion a~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 ~nder which estate is being distributed: In accordance with Article One and Article Ten of the Deed of Trust Indenture dated August 25,1936,the Balance for Distribution is to be Decreed to Willian G.Stewart and The Union National Bank of Pittsburgh,Trustees in Trust for .Anne Baker Weimer subject to'further administration and accounting. lmne Baker Weimer,party in interest,is not in the Military S~rvices of the United States of .America. Wherefore,your Petitioner prays Your Honorable Court to confirm the account as filed and award the Balance for Distribution,botp securities and cash comprising principal and income cash on hand,to William Cl...Stewart:.and The Union National Bank of Pittsburgh,Trustees, for further administration and order of Your Honorable Court. -t..,.'.. .L..•• .'. ,c"'".;......,-.J "~\I ..' .....~l,f t~··.."'....,....{,.. Allegheny COUNTYOF~ COMMONWEALTH OF PENNSYLVANIA, The above named Fiduciary or representative thereof, being duly s:w.or.n doth depose and say that the facts set forth in the foregoing petition are true to the best of J!~§knowledge and belief. ...S:w.or.n to and sup!3cribed before me Thi~__.::h..l..d.::"..day OI :..kry.d.191_~.. Signature of Offie8r f2R~/L ~~.. ••tlAIR A.NEWTON,NOTARY PUBLICTItleofOfficer~mSBURG1'1;.Attf(mEN.Y..u~H~~¥.. HIt \A)IMlnSSI~~.EJ'i'IR_is ~E.B~-2:i!1972 Office expires ::~:;..;:i;:.•~.;..;.. And your petitioner will ever pray,etc. .:f.h.~.JJP.-.~.QP,.M.~tJg.~~J~.~Q#:...:rJ~~~P.~gg,.. Surviving Trustee.~l········@~~e.laenl;····--·· .- <..1''- -~ 'J ~ L.~ I, ",;:;!~. 'rtitinn ~ur i\u~it IN TI-lE ORP~ANS'COURT OF WASI-lIN6TON COUNTY \ FORM USED FOR GUARDIAN-INCOMPETENTS -OR TRUSTEES ,l ~No ..?.;\;~of 19@..Q . "1 j.. "!; ES~ATE OF~..W.9.:~.t~F H..:#.~~~F.1....J.P.:~.~~.. Vi;vos Trust under Indenture daLed ...Aug:us.t:~;5.).193.6 :. ~:> FOR...A~n.~~.~~.~~~~.~~.~E :;!I~e.~#.~§.?.Q .. '-'- ····..····;.;:;i;;-~~=i~·c~;;;p~t~;;-i::::::iif~·t~;:;a·~t .. ~. ~ .) .r.h~....v.P..:;i,.iQP.....N~.t;j,.Qp.gJ ....:e.Sl:M.....Qf.....pj,.tt.§.burgh, survivi~g Trustee r 3 Counsel for the accountant shall submit herewith the- following,if pertinent:. 1.Will or trust instrument-attested. 2.Inventory. 3.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.BrieL-for any question of law raised.Rex Rowland,Esquir e Buchanan,Ingersoll,Rodewald,Kyle .......~?~~!?:~~.g.~~.. 1800 ali B ·ld~ounse1 for accountant.. .ver Ul lng ~2 Pittsburgh,Pennsylvania 15222 F·f 1 t.-·n.·,....c.LJ~ P7D nUG 27 PH I 49 RUSSELL MARiNO' REGISTER OF WILLS WASHINGTON CO.,PA; r -'-~; .)~\.-.-'." ...-..."...... "~;, r, .. / • I /.., \, -1 "'......... "'.~ ~ ~'............-':: ,". .~' , IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNA J ORPHANS'COURT DIVISION• WALTER H.BAKER Trust for A NNE BAKER WEIMER 1830 • HEARING ON AUDIT No.311 of 1970 ) ) ) ) ) ) ) ) THE HONORABLE P.VINCENT MARINO,Judge of the said Court. IN RE: :!No.z<I:>oJ>-lJ)zZIIIII. i~ Cl BEFORE:z iUl<I:~ afletthe last seve.n on the audit list,we would like to request that tho e be postponed to a later date for this reason:we had intended to THE COURT: MR.ROWLA ND: Yes,sir.With regard to the Baker Trustlil,whicr. Mr.Rowland,did you have a motion for the Cour ? Yes,sir. Wednesday,May 20,1970,at 10:00 o'clock A.M., EDST. Is Mr.Rex Rowland present? REX ROWLAND,ESQ.,of Allegheny County,Pa., representing the Accountant. MR.ROWLAND: ..=~APPEARANCES:I-!!!Q oJ<I: § Q;TIME: :t~N ai0:III~THE COURT:oII.IIIII: I-0::;)ou oJ<I:ij;;: II.o (j I l i',I e file Our Petition for Distribution at this time on the ground that the individual trustee in those trusts had died and a new one needed to be appointed.We had talked with the beneficiaries about this and a of this date,we have not been able to agree upon who shall be the 2 I ~ successOr trustee.Mr.Patton,(he Trust Officer at the bank,is handling this trust,is now away,but he will return shortly and we think that upon his return and upon further discussions with the '.beneficiaries we will be able to agree upm who shall be the succeSl:or trustee.And therefore,we would request a continuance.Now Mr. Patton advised me that Your Honor had suggested June 15 as the ~z ;date for the continuance.But since that time,I talked with Mr. oJ~ JlZ~Ritter,representing one of the trust beneficiaries,and Mrs.Ritte Do throwing it over into the fall term of Court. has a difficulty with the school problem down in Florida,in that thE Did you have another suggested date,Mr.Rowlar d? children are not out of school until close to the 15th of June,and it she would prefer/to be some later date if at all possible without z () tooziUl0(~ ..,:u~Ul Q ,J 0( ~THE COURT: ;:)., " 5 MR.RO~A'ND:Mr.Ritter is present.Is there any date you suggest,Mr.Ritter? June. THE COURT:1, ai 0: =0:oI\.~MR.RITTER: I-0:;:)oU .ICUii:...o No,sir,no specific date;just later in the ITO nth pf Would two additional weeks be sufficient if we •I fixed it for June 29,Monday.June 29? MR.RITTER:Yes,sir. MR.ROWLAND:Yes,sir,that would be satisfactory. THE COURT:Very well.All of the Baker Trusts listed today will be continued to June 29.1970 at 10:00 o'clock A.M.Presently we will inquire whether there is anyone in Court interested in thesl of the Baker Trusts? •THE COURT: A.M. (NO.'RESPONSE) They will all be continued to June 29 at 10:00 ole ock ( A UDIT CONTINUED) The foregoing record of the proceedings upon the hearing of the abo e J .. (z~...>-ClZZ~ Z~ziI/) ~ tiIi:...6 I hereby certify that the proceedings and evidence are contained full ...0(~and accurately in the notes taken by me on the hearing of the above cause, ;) "\t and that this copy.is a correct transcript of the same. N ai0::~~~II:..a::aIJ. ..I0( Uii:II.o cause is hereby approved and directed to be filed. iI .'----1:------ .II . I / IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNA ORPHANS'COURT DIVISION Baker Trusts at this time.Mr.Rowland? Baker Weimer IN RE: ESTATE OF No.311 of 1970 ) ) ) ) ) ) ) ) We will hear the matter of the audit in the Good Morning,sir.We have a series of Monday,August 24,1970,at 10:00 o'clock A.M.,EDST. REX ROWLAND,ESQ.,of Alle~heny County, fa.,representing the Accountant. THE HONORA BLE P.VINCENT MARINO Judge of the said Court. HEARING ON CONTINUED AUDIT MR.ROWLAND: WALTER H.BAKER, Trust fOr Anne ~No.1830. c(>..I>-VI Z Z 'JI :I. Ze C)z%~BEFORE: ~ .=o~I-UI Q APPEARANCES: ..I0( U C:J., %5 TIME: vi0:IIII-0:oa..~THE COURT: I-0::Joo ..I0( U ii:II.o Petitions in connection with that audit,YOUr Honor,and if it is proper,I will just go through them as they are nur:1bered.I think the first is Number 311 of 1970.That is the estate of Walter H. Bake r,Inter Vivos Trust under Indenture dated A~gust 25,1936 This is the Second and Partial Account in the AnnE Baker Weimer Trust Number 1830.Under Article Ten of the Tr"Jst Indenture da ed I ,. i />,( i . :\ e ~z<>oJ>-IIIZZIIIDo i0.."z iIII< "~ ..,: ~ II:....III CeoJ<§ C:J., :z:t:1\1 oj II:III..II:.0DoIIIII:..a::J0U oJ r .:UfiLIL0.. e August 25,1936,upon the death of Edward L.Stockdale,Co-Trw:tee, U.Grant Miller of Washi ngton,Pennsylvania was named successc r or altern ate individual trustee.Mr.Miller has decdned to serve as evidenced by his letter attached to the Petition as Exhibit "A". Under the trust indenture Anne Baker Weimer has Lie rightaat an time or from time to time to change the individual and the cOrpore te trustee named during her lifetime and has now exercised this righ appointing William G.Stewart,SuccesSor Trustee,as evidenced by letter marked Exhibit "BII.attached to the Petitio:l.Mr.Stewa tis acceptance is attached to the Petition as Exhibit IIC I. At this point,YOUr Honor,I·w auld like to poin ou t that in connection with all of the Walter H.Baker Trusts,tre trustees hold a large amount of stock of Cyclops Corporation. Mr.William G.Stewart,of COurse,iliPresident of Cyclops COr- poration.And there is a possibiLity in the future that there may bE a conflict fof interest arise because of the holdings in the trust of Cyclops stock.Now we have informed Anne Baker Weimer of thi~ fact and have explained it to her as well as w.e can.But she has decided that she wants to appoint William G.Stewart as the individual trustee.Welhave also explained this teo all of the beneficiaries and all those who are interested in tiese various trt:fstS. And I make this statement at this time because I think it should be something of record as to these trusts and also want to say that the Corporate trustee,the Union National Bank,has info rmed Mr 2 3 Stewart that if at any time it considers in any particdar question. that what is good fOr the trust may not be good fOr the corporation " as the cOrporation sees it,nevertheless,the bank w:ll vote its sh~res as it sees best.Nom-mer how Mr.Stewart might ha".re wanted to vote. I :THE COURT: ~z~matter? oJ>-CD~MR.ROWLAND: Q. How would the bank remain interested in the Just from the fact that the bank e.s trustee holds ze a lot of stock in Cyclops COrporation. oz ~THE COURT:But not in this particular trust then after this is ~ end of it,so the bank would not be interested. stock,of COurS e,will go to the benficiaries and the.t will be the terminated.~ii:I-UIc MR.ROWLAND: oJ>( § C:::l., %I:til Well,when this is terminated,of COUTS e,the the bank has now up to the time of the transfer . THE COURT: after that time. MR.ROWLAND: Yes.Well,then the bank would have no intereE t That's right,yes,sir.We tho'Jght it advisable So you are referring to any possible interest t ~at That's right. MR.ROWLAND: ui~THE COURT: ll:oQ. 1&1ll: l-ll: :::loU oJ>( Uii:II.o i ., I I •! I e: to put that on record so everyone would know about it.And that holds true fOr all of these trustS.Just make a statement fOr all of them. THE COURT:I understand. , ( /., MR.R OWLA ND: 311 of 1970. -.,And.Your Honor,I present the Petition at Nun ,ber (Proceedings Closed). 4 -, ./ :!zl(~1 Ureb1 ~OttUi Chat ~e ~tnp ~-••14t""c••,..eamaitWrd Z '"Z ..."'- ~full,.acd accurately!n tb*not"tali.it,bJ-'-me -on the .b~r-of tbct·-abo" z '"~~e_.e..ntt that tbw CO"Ie •<:.~ct t""''4,t.,.of the aute. im-el::c: f.' co. ,c~ :...:.J ....''.. '. \ '\J .. " .Iii .:t ., , j _I I . " J . In t4t QLnurt nf QLnmmnn '1ras nl Ifa.aqingtnn aIonnty. Jrnu5yluauia.(@rpqans'atnud miuiainn ESTATE OF No.311 of 1970 Walter H.Baker Trust for Anne Baker \veimer-No.IB30 In the matter of the Second and Partial Account of Union National Bank of Pittsburgh Surviving Trustee ADJUDICATION AND DECREE Andnow August 27 ,19.-2SL,this matter came on for hearing, audit and distribution at this session and testimony taken;and thereupon,upon due consideration thereof the balanc6e for distribution in 1he hands of the Accountant is determined to be $192.0B5.9 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 made a part hereof,unless exceptions hereto be filed sec.reg.or an appeal be taken herefrom sec.leg. SCHEDULE OF DISTRIBUTION Additional credit asked at audit Balance per account _ Additional debit asked at audit 16862.39 14990.57 $190.213.B7 $207,076.26 Balance _$192,085.69 Deduct Clerk's Costs &Receipt~s _ Attorney Rex Rowland for Buchanan,Ingersoll,Rodewald, Kyle and Buerger William G.StellTart and the Union National Bank of Pittsburgh,Trustees,under the Walter H.Baker Trust for Anne Baker Weimer,No.1B30,for further administratipn including the following assets,held in kind and distributed as such at the value as shown:- 25.00 l.ce 7661.03 2507B.75 9666.2< 44B.2J 1657.3l 192060.6c No balance 1360 shares Capital stock of American Telephone and Telegraph Company $313oo.9~ 8489 shares common stock of Cyclops Corporation 72334.6e 250 shares common stock of E.I.duPont deNemours and Company 167 shares common stock of General Electric Company 340 shares common stock of General Motors Corporation 200 shares 3.BO%Preferred Stock of Philadelphia Electric Company 16714.4C 200 shares 4 3/4%Preferred stock of Reynolds Metals Company 10364.0; 22BB shares Capital stock of Texaco,Incorporated 7971.7] United States of America Treasury Notes,5 3/4% $9,000 dated 11-15-67 due 11-15-74 United States of America Treasury Bills, $10,000 dated 12-31-69 due 12-31-70 Principal cash Income cash 3f.--/r(- tII .:.. ..' 0 ~~ ....z II'I :J n ....p 0"0 :r' C ll) ~.....:J ~ll)....3 0 0 0............ ~t ~ ~ ., 0....... St go. = ll) ~ & ~~."." 1 • ~ ~? II".j~-.,~. J I 'I 1t• IN THE COURT OF OOMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT 'DIVISION NO.311 OF 1970 WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER THIRD AND PARTIAL ACCOUNT .OF WILLIAM G.STEWART, .SUCCESSOR INDIVIDUAL TRUSTEE AND THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE UNDER INDENTURE DATED AUGU:sr 25,1936 \;, ~\ W~/~<f~3~~ FORM 1740.,& ..-,~~;::'J --.J! :.....fr-l :::0 CJi_en r;'")c::c::....- .:!.:(;;(~,~=::! ::.-c '.'~.:••':l. IInO "vIII.(I).rt....~.~~.'"011 tfI15t"e .:o;t."_,,,~u,,,0 .J!',-oM __ ••nfir""at",,~.,--.,:~~~~-=~!I/-'*""_......."~ Robert F.Patton,·Esq. Buchanan,Ingersoll,Rodewald, Kyle and Buerger 1800 Oliver ~lding Pittsburgh,Pennsylvania 15222 (562-8911) \J'.)~ .~ ~::.- ii'\Q.....<:>:. ~s:::::..""'.~ ...., ;:,".c.~c.,-~-'....:t;-'":::.........-. ;;-~.~__c ~~.:'to ~~~:~. r::".._::3- -~(b-....''::1-.~-.gCi=:s -.. :,,:."-;::;:::.-:(\)~.i'".....~Q ;:,-::,Q .J:::~::::~ 1::'""0"'"~~s:~~ -:::;..Q"'~~3 (i "'l ""::-::::.,..'='::":> C <l>'"-,~~ ~.0'~~.'<:~.~~~~~ roo.0:":):.~~:~~--~~ ;:, ~ <;;L ::r;:.:.~ -liI::N~'u\:::;. I·\c' ""'";;; ~~ \ ~,." <;. ~- ~k~.;:,!~~:~...~I 3I.c:: !~ !• 3' ~ ,;, ;:...c-.. ~.. ~ f:~.:.~:'-~ ~"::-I•.;;:>I $181,391.30 I ./').-,.- ~:/Jvc; BALANCE WE - /)'1 1..-/r L ..jj,.._,~'~'" "} ~. ..---r,.1;. ",.., -' '.'-,,:,.1::-;~"; ,..~. ,:~r; '..-.'. IN THE COURl'OF COMMON:PLEAS OF WASlD:NGTON comrJ.:Y,PENNSYLVANIA ORPHANS'COURT ·mvrsION· NO.311 OF 1970 WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER THIRD AND PARl'IAL ACCOUNT OF WILLIAM G.STEWARr,SJCCESSOR INmVIWAL TRUSTEE.AND THE UNION NATIONAL BANK OF PITTSBURGH I I SURVIVING TRUSTEE..IUNDERINDENTUREDATEDAUGUST25,1936 June :2,1975 ,'p (Date of death of Anne Baker Weinier, Feb Wf.'11 11.197~i)- SUMMARY SCHEME A IPRINCIPAL-PERSONALTY I 1~ Receipts Pages 3 -7 190,853 77 Disbursements Pages 7 - 8 10,547 52 I .BALANCE 180,306 25 SCHEI1JLE B INCOME .-PERSONALTY Receipts Pages 8 -'10 30,875 09 Disbursements Pages 11 -12 29,790 04 BALANCE 1,085 05 I ,.,.NET BALANCE 181,391 30 The Balance Consists of the Following: Principal -Personalt.Y,. Stocks American Telephone and Telegraph Company I1,360 sharesCapital 31,300 96 American Telephone and Telegraph Company 69290shares$4.00 Convertible Preferred 17,072 Qyclops Corporation I 72,33~I 8,489 shares Common 6S I I E.I.du Pont de Nemours and Company 250 shares Common 1 00 ,I "'I • WALTER H.BAKER , TRUST FOR .ANNE UAlrIi!l).....:1 M"'U stocks (continued) ,General Electric Company I I 334 shares Common 7,661 03 i General Motors Corporation ,340 shares Common 25,078 75 Texaco,Incorporated 2,288 shares Capital 7,971 71 161,420 82 Bonds I United States of America Treasury Bills $10,000 dated 12/26/74 due 6/26/75 9,644 50 Notes United states of America,Treasury 7.75% $5,000 dated 11/15/74 due 11/15/77 '4,986 85 Savings AccOlmt The Union National Bank,of Pittsburgh Master 'Savings Account 4,200 00 180,252 17 Cash on hand 54 08 180,306 25 , Income -Personalt,y Cash on hand 1,085 05 "181,391 30 -2-" • WALTER H.BAKER TRUST FUR.ANNE BAKER WEIMER SCHEllJLE A PRINCIPAL -PERSONALTY RECEIPTS The Union National Bank of Pittsburgh,Surviving Trustee for Anne Baker WeiJDer I Awarded by Adjudication and Decree of Distribution dated August 27,1970 at No.311 of 1970 by the I Orphans'Court of Washington County,Pennsy1vania- rea~for further Administration including the I I following assets,held in kind and distributed as Isuchatthevaluesassho~: Stocks American Telephone and Telegraph CompaD1' I 1,360 shares capital 31,300 96 ,Cyclops Corporation 72,334 688,J.S9 shares Common E.I.du Pont de Nemours and CompaDY 250 shares Common 100 General Electric Company I 167 shares Common '7,661 0.3 General Motors Corporation 340 Shares Common 25,078 75 I Philadelphia Electric CompaD1'16,714200shares3.80%Preferred JIJ Reynolds Metals Company 10,364200swes43/4%Preferred C3 , Texaco,Incorporated 7,971 712,288 swes Capital Bonds United states of America Trea~Bills 9,66E$10,000 dated 12/31/69 due 12 31/70 20 Notes United States of .America Treasury 5 3/4% $9,000 dated 11/15/67 due 11/15/74 8,862 J8 Cash MJ3 21 190,403 35 -3-.. • "'I & WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER Purchase ot Assets ; Stocks American Telephone and Telegraph Company 14.00 Convertible Preterred 5/4/72 290 shares at 58 3/8 17,072.69 I .. Bonda United Statesot America Treasury Bills 12/31/70 tlo,OOO .dated 12/31/70 I .due 7/1/71 i at ·97.555 9,755.50 , 7/1/71 10,000 dated %1/71 I due 12 30/71 at 97.332 9,733.20 . ·.12/30/71 10,000 dated 12/30/71' due 6/29/72 at 98.002 9,800.20 .6/29/72-10,000··dated 6/29/72 due 12/28/72 at 97.733 9,773.30 .12/28/72 10,000 dated 12/28/72 .due .6/28/73 ,at 97.314 9,731.40' 6/28/73 10,000 dated 6/28/73 .due 12/27/73 Iat96.310 9,631.00 I 12/27/73 10,000 dated 12/27/73 .due 6/27/74 6/V/74 at 96.302 9,630.20 10,000 dated 6/27/74 .due .12/26/74 at 95.954 9,595.40 I 12/26/74 10,000 dated 12/26/74 due 6/26/75 at 96.445 9,644.50 190,000 87,294.70 Notes United States or Am8rica Trea8U1'7 7.75% ll/15/74 .5,000 dated 11/15/74 . .due 11/15/77 4~986.85at99.737 - -Jr ., I ',."... • WALTER H.BAKER TRUST POR ANNE BAKER WEIMER Purchase of Assets (continued), Deposited I The Union National Bank of Pittsburgh Master 'Savings Account I 11/15/74 4,000.00 I .2/4/75 200.00I 4,200.00 .. 113,554.24 Cash disbursed to purchase the above assets 113,554.24 o 00 ,. stock Rights Received .American Telephone and Telegraph Com.p~ 6/3/71 1,360 Rights Allocated Value o 00 Gain on Sale of Stock Rights Received Proceeds sale .Am.eric~Telephone and Telegraph Comp~ 7/7/71 1,360 Rights 312.80 Allocated value 0.00 312 80 stock Split General Electric Company Common Received.as a stock Split 4/29/71 2 for 1 on 167 shares held 167 shares o '00 Conversion of Assets Without Gain or Loss 197 0 D3c.31 Proceeds maturity -$10,000 II United States of .America TreasUI'7 Bills , dated 12/31/69 due 12/31/70 9,666.20 Carrying value 9,666.20 0 00 1 9 7 1 July 1 Proceeds maturit,y -$10,000 I United States of America Treasury Bills I dated 12/31/70 due 7/1/71 9,755.50 Carrying value 9,755.50 I I 0 00 -5-., j .-,.,,,A WALTER H.BAKER TRIJ'sr FOR A - Conversion of Assets Without Gain or Loss (continued) 1 9 7 1 Dec.30 Proceeds maturit,y -$10,000 United states of America Treasury Bills dated 7/1/71 due 12/30/71.9,733.20 Carrying value 9,733.20 Io00 197 2 , June 29 Proceeds maturity -$10,000 I United states of America Treasury Bills dated 12/30/72 due 6/29/72 9,800.20 Carrying value 9,800.20 o 00 Dec.28 Proceeds maturity -$10,000 United States of America Trea8U17 Bills dated 6/29/72 due 12/28/72 9,773.30 Carrying value 9,773.30 o CO 197 3 June 28 Proceeds maturity -$10,000 United states of America Treasury Bills dated 12/28/72 due 6/28/73 9,731.40 I Carrying value 9,731.40 0 00 ,, , Dec.27 Proceeds maturit,y -$10,000 United States of America Treasur,y Bills dated 6/28/73 due 12/27/73 9,631.00 I; Carrying value 9.631.00 o .)0 1 974 June 24 Proceeds maturit,y -$10,000 United States of America Treasur,y Bills dated 12/27/73 due 6/27/74 .9,630.20 Carrying value 9.630.20 o 00 Dec.26 Proceeds maturity -$10,000 United States of .AmericaTreasur,y Bills dated 6/27/74 due 12/26/74 9,595.40 Carrying value 9;595·40· C 00 0 00 : -6- ., -- ~--~~---I •a- ,.... "II • WALTER H.BAKER TRUST lUR I Awnw.tlATl'1i~u III"I M":K Gain on Sale of Asset 1974 Nov.15 Proceeds sale -$9,000 United states of America Treasur,y Notes 5.75% dated 11/15/67 due 11/15/74 at 100 9,000.00 Ca.ny1ng value ,~8,862.38 137 62 190,853 77 I DISBURSEMENTS I Admjnistrative Expenses 1 9 7 0 Sept.21 New York state Transfer Tax on 200 shares Reynolds Metals Company 4 3/4%Prefen-ed stock 5 00 197 2 Aug.28 Buchanan,Ingersoll,Rodewald,Kyle and Buerger Payment for professional services rendered as follows: Question of Distribution of Principal 300 00 I IRightofGrandchildtoTake25000 197 5 June 2 Register of Wills -Clerk of Orphans'Court of Washington County,Pennsylvania Cost of filing this Account .195 C'O I Buchanan,Ingersoll,Rodewald,Kyle and Buerger Attorneys'fee No he The Union National Bank of Pittsburgh Accountant's compensation No ~ 750 00 Loss on Sale of Assets 197 2 April 26 Net proceeds sale -200 Shares Reynolds Metals Company I 4 3/4%Prefen-ed Stock at 36 5/8 7,214.92 I Carrying value 10,364.03 3,149 II -7-, ).... - , ••.'. WALTER H.BAKER mgt'FUR ; 17'1 , ANNE BAKER WEIMER Loss on Sale of Assets (continued) 197 2 April 28 .Net proceeds sale -200 shares Philadelphia Electric ComparJ1' 3.80%Preferred Stock at 51 10,065.99 Carrying value 16,714.40 6,648 41 9,797 52 I I I 10,547 52 SCHEmLE B INCOME -PERSONALTY $1,657.34 being amount awarded b,y Adjudication and Decree of Distribution dated August 27,1970 together with all Income received and Disbursements made to August 1,1974 (date of last Annual statement)have been accounted for by Annual Statements rendered b,y the Trustees to Anne Baker Weimer,inoome benefioiary RECEIPTS I I Balance in accordance with last !nnw Statement I ending August 1,1974 1,470 80 I Less adjustment of compensation taken 6/28/74 from 290.11 to 349.53 59 42- 1,411 38 Income received and accrued to February 11,1975 (date of death of Anne Baker Weimer) Dividends -Stocks American Telephone and Telegraph CompaDy Capital 1,360 shares 10/1/74 -1/1/75 2,312 OJ American Telephone and Telegraph Company $4.00 Convertible Preferred 290 shares 11/1/74 -2/3/75 580 00 -S-.. .'"'"& WALTER H.BAKER TRO'ST R>R ANNE BAKER WEIMER Income received and accrued to .February ll,1975 (date of death of Anne Baker WeiJDer)(continued) Dlvidends -stocks (continued) .Qyclops Corporation Common 8,489 shares 9/30/74 -12/31/74 E.I.du Pont de Nemours and CompalV' Common 250 shares 9/12/74 -12/16/74 General Electric Company Common 334 shares 10/25/74 -1/27/75 General Motors Corporation Common 340 shares 9/11/74 -12/10/74 Texaco,IncoI"porated Capital '2,288 shares 9/10/74 -3/10/75 Interest -Bonds United States of America Treasur,v Bills Accuinulation on $10,000 to 2/11/75 Interest -Notes United States of America Treasur,y 5.75% $.9,000 5/15/74 -11/15/74 .United States of America Treasur,y 7.75% $5,000 11/15/74 -2/11/75 Interest -Savings Account The Union National Bank of Pittsburgh Master Savings Account 11/15/74 -2/11/75 Miscellaneous Reimbursement of The Union National Bank of Pittsburgh fee overcharge from 6/29/73 to 9/30/74 -9- nf ; 14,431 30 750 00 267 20 578 0) 3,660 80 22,579 30 , 552 90 25~'75 94 20 352 95 49 00 717 88 25,663 41 i • ''''1 .. WALTER'H.BAKER TRUST FUR ANNE BAKER WEIMER Income received subsequent to February 11,1975 (date of death of Anne Baker Weimer)i ! .Dividends -Stocks .American Telephone and Telegraph Com~ Capital I1,360 shares 4/1/75 1,156 0(' I .American Telephone and Telegraph Company I .$4.00·Convertible Preferred I290shares5/1/75 .290 00 ICyclopsCorporationI CoIlDDOn 8,489 shares 3/31/75 2,'171 IS ..'. E.I.du Pont de Nemours and Company Common 250 shares 3/14/75 312 50 General Electric Company Common IJ34shares4/25/75 .133 60 , General Motors Corporation CoIlDDOn 340 shares 3/10/75 204 0) "5,067 25 , Interest -Notes I United States of America Treasury 7.75%I$5,000 2/11/75 -5/15/75 .CFJ 55 Interest -Savings Account The Union National Bank of Pittsburgh Master Savings Account 2/11/75 -4/30/75 44 88 30,875 09 -10- •',.., ""& WALTER H.BAKER TRUST FOR ANNE BAKER 'WEIMER DISBURSEMENTS I Dibursements made and accrued to FebI"llal"Y 11,1975 (date of death of 'Anne Baker WeiJDer) A9!dnistrativeExpenses I I, 197 5 , Jan.7'Pennsylvania Department of Revenue Pennsylvania Fiduciary .Income Tax for the fiscal year ended 9/30/74 '24 f:£ The Union National Bank of Pittsburgh I , Accountant's compensation for period , 6/28/74 -2/11/75 .605 83 630 f43 I Distribution P~nts in accordance with Article One of Trust Indenture dated August 25,1936 Anne Baker Weimer P~nts account Net Income 9/30/74 5,934.39 12/31/74 16.207.04 22,141 43 The Union National Bank of Pittsburgh,Executor of 1 the Estate of Anne Baker Weimer Accrued Net Income to 2/11/75 2,891 5:3 25,032 98 25,663 41 Disbursements made subsequent to February 11,1975 Administrative Expense 197 5 June 2 The Union National Bank of Pittsburgh Accountant's compensation 126 63 ,, -11-' ., I II t7,•• ,,.- ,••..- I I . VALTERH.BAKER , TRUST FOR ANNF.BAKER~ Disbursements made subsequent to Febru.aI'7 11,1Cfl5 (continued) Distribution'- .Payments in accordance with Article One of Trust Indenture dated August 25,19.36 Arrr¥Anne W.R1t ter ' P~nt account·Net Income 4/17/75 ''2,000 00 Valter B.Weimer P~nt account Net Income 4/17/75 2,000 00 4,000 00 29,790 04 t \.. -12- •v COMMONWEALTH OF PENNSYLVANIA ss: COUNTY OF WASHINGTON WILLIAM G.Sl'EWART,SUCcessor Individlll1 Trustee,the above named accountant being duly sworn according to law deposes and says tlat the disbm'sements shown :In the account lave been made to the parties entit1ed thereto and that the account as stated 'is true and correct as he verily believes. v_.()j~..fz-~ William G.Stewrt r._,.. ~ Sworn and subscribed before me this 16th ~ d8.y of ,Tune ,1975. REQUEsr FOR DISTRIBurION Accountant requests tlat distribution be determined qy the Court in accordance with the Petition for Distribution to be offered in evidenee at the audit of this account.' William G.Stewart \\, COMMONWEALTH OF PENNSYLVANIA ss: COUNTY OF ALLEGHENY JOHN R.ECHEMENT,Senior Vice President of THE UNION NATIONAL BAliK OF PITTSBURGH,the above named accountant being duly sworn according to :.a.w deposes and says that the disbursements sho\lIl in the account have been made to the parties ent1tled thereto and that the account as stated is true and co~ect as he verily believes. Senior Vice President Sworn and subscribed before me this \ I ?TIl day of_.;;..y;,.;;.v_N....;;c-~·,197./: Notalfy ptiblic ' WILW.M J.PROBST,SR•.NOTARY PUBLIC •PITTSBURGH,AllEGHENiY COUNrY MY COMMISSION EXPIIlEli MAR.8.1976 Member,PennsylvaniaAssociationof Notaries REQUEsr FOR DIsrRIBUTION Accountant requests that distribution be determined by the Court in accordance with the Petition for Distribution to be offered in evidenze at the audit of thisa~count. THE'UNION NATIONAL BANK OF PITTSBURGH ,], L-- -; " In the Court of Common Pleas of Washington County, Pennsylvania Orphans'Court Division No.311 of 1970 IN RE WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER 11 PETITION FOR APPOINTMENT OF GUARDIAN AND TRUSTEE AD LITEM , .;.~~.«~ ..,1'1<:;:0 -....,c.nJ>n,::o --..(f)CjC::c::::,r--~=r:.-cn C""")i:::;:el>u>-?":.:;f ;21 rr'1"4 ::-.;_.':.0'-;)c:)-:.::><,- ::t::lP ..'T;_'"i..,. CJ ;-,..~c a;:::;;; :1-===;c..o-0 r-::..-"!>(f;,(..)-t.v JANE'S W.U('4fvlEI( BUCHANAN.INGERSOLL,RODEWALD,KYLE II<BUERGER 1800 OLIVER BUILDING PITTSBURGH,PA.'5222 TELEPHONE 582-8800 M3·-S8t:t -~ IN THE COURT OF COMMON PLEAS OF WASHINGTON COl"NTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER ) ) ) No.311 of 19'70 PETITION FOR APPOINTMENT OF GUARDIAN AND TRUSTEE'AD LTTEl-l TO THE HONORABLE,THE JUDGE OF SAID COURT: AND NOW comes The'Union National Bar_k of Pittsburgh, I ' surviving trustee under the trust indenture of Walter H.Baker dated August .25,1936,for Anne Baker Weimer,he::einafter referred to as the "trustee''',by its attorneys,Buchanan,Ingersoll, Rodewald,Kyle &Buerger,and hereby presents the following under Sections 7183(2).and 3504 of ,the Pennsylvania Probate,Estates and Fiduciaries Code: 1.Walter H.Baker entered into an inter vivos trust indenture 'with Edward L.,Stockdale and The Uni::m .National Bank of Pittsburgh the 25th day of August,1936. 2.A Second and Partial Account was'filed at No.311 of 1970~By a decree of distribution dated Au·~u~t 27,1970,the trust fund was awarded to Willi'am G.Stewart a.3~uccessor indivi- dual trustee and The Union National 'Bank of Pi-:.tsburgh as survivin trustee for ..further administration and accounting. 3.A Third and Partial Account was =iled by trustee and was called for audit before your,Honorable Court on September 9, 1975.A purpose of that account was to provide for the distribu- tion of the trust corpus into two separate continuing trusts,one for the benefit of Amy Anne Ritter and one for the benefit of Walter B.Weimer,as successor life income beneficiaries,for further administration under the governing terms of 'the trust indenture.' .4.'Withrespec't :to .thetrust for the benefit of Amy.' AnneRitt'er,said inc'oine 'beneficiary has requested that an ,indivi- dual :trustee be named to s'ucceed William G.Stewart who has,, tendered his resignation to s'erve ''in such continuing capacity. The,governing ,language :is contained in ARTICLE T.E:N of the trust indenture '.and reads in part as follows:' The successor or alternate individ".lal,trustee here-I under shall beU ~'Grant Mi:llerof Washing.ton,Pennsyl- vania,in the ,event :of the death or,declination to s'ervefor any ,reason of'Edward L.;Stockdale hereinbefore named.The'reshall always be 'two co-t=ustees,.an individual and a corporate trustee .Dnring.thelifetime of Anne Baker Weimer she shall,have the right at any time or .from t'ime 'to time to changeeitheror both the individual.and the corporate trustee.herein named and, following ,the death 'of Anne 'Baker Weimer,.a Iriajority in interest of the then beneficiaries of,the trust ,created by this,indenture ,'whoare':sui ,:mris may at any time or from t'imeto time:upon filing ,their request or election in writing change,either or both.,the indivi- dual and corporate ,:trustee herein namec. 5.Theabo've quoted provisionautho'ri2:es a majority in interest of,.the 'then be'neficiariesof the trust created by this indenture who are 'sui juris to appoint a successcr individual trustee. 6.The trust provision under which 'satd Amy Anne Ritter's .'income interest and her issue's',r'eIriainder interests are derived:'i~contained in ARTICLE ONE and reads in part as follows: Upon the death of Anne Baker Weimer aforesaid,the Fund shall be equ.ally divided into as In3.ny parts as there are children of Anne Baker Weimer surviv,ing he'r,.and a separate ,'trust wi,threspect to each part shall.be continued for'eachof said :sunriv,ing children of Anne Baker We'imer .From the net income 'arising from each of said separate :trusts for tie surviving children of Anne Baker Weimer shall,be ?aid an equal proportionate 'part of ..the life insurance premiums on -2-,' the policy.or policies.on the life of David P.Weimer, Jr.,as 'aforesaid,and .the remainder of the net income from each 'of said separate trusts"for the surviving children of Anne Bakerweimer shall be paid to each child respectively of Anne Baker Weimer,.the beneficiary of said res'pectivetrusts,not less-frequently than quarter-yearly for and during the per.iod of his or her life.Upon the death of each of said children of Anne Baker.Weimer,respectively,.the trust as to such child shall terminate and the 'Trustee's shall thereupon pay over and deliver to the,'issue of said child,in equal parts,the property then constituting said trust estate for his or her benefit,together with all accumulated or accrued income ~th'ereon~free from all.trusts, absolutely and in ·fee·simple.In default of issue of any child of Anne'Baker Weimer surviving at the death of said child,said child's.trust property shall'continu~ to beheld intrust by the Trustees,.in equal parts,for the sisters and brothe'rs of said child so deceased,. subject to the provisions of this indenture.In default of issue and surviving sisters'and.brothers 'of said child of Anne Bake·r.Weimer so deceased,the property held in ..trust·for said child of her-sso .deceased shall be 'paid over and delivered to their.next of kin of the blood of Anne Baker Weimer as.the laws of the State of Pennsylvania would have be'en entitled to the same if said child of Anne Bake'r Weimer had be~n legally seized and posse'ssed of his or her respective share of said Fund in his or her own right and had died intestate, and for this purpose said children ·of Anne Baker Weimer shall be considered citizens of Pen'nsy,lvania without regard to the place in which they shall reside at the tJ.me of his or her death"..Asto any.c:"1ild of Anne Baker Weimer who may be bornaft'er the date of the death of the Grantor herein named,,any property held in trust for said child hereunder,,together withallaccumulated or accrued income thereon,'shal~be paid over.and de~ivered to said chi.ld,.:free from all trusts,absolutely and in fee simple',when'.said child shall have attained the age of twenty-one'(21)years,'and the trust.as to said child shall then be terminated.If any property is he.ld in trust for any beneficiary hereunder or shall go to persons who shall be:les's 'than twenty-one'(il).years of age,the income.therefrom,or so much 'thereof as shall be necessary,shall be paid .over by said Trustees for the maintenance,education and support of such minors. 7.The following persons are minors and have the interests indicated in the trust estate: Jonathan Baker .Ritter. c/o Mrs.Amy Anne Ritter .4101 La Playa Bou~evard Coconut Grove Miami,Florida 33133' Minor born 9/18/65 -3';" Rem~inder interest as a child'of Amy Anne Ritter as per Article One. Anne Elizabeth Ritter c/o Mrs.Amy Anne Ritter 4101 La Playa Boulevard Coconut 'Gr:ove Miami,Florida 33133 Christopher Burns Ritter c/o Mrs.Amy Anne Ritter 4101 La Playa Boul.evard Coconut Grove Miami,Florida 33133 Andrew Duncan.Ritter c/o Mrs.Amy Anne.Ritter 4101 La Playa Boul.evard. CoconutGrove.. Miami,Florida 33113 Minor born 1/21/63 . Minor born 9/20/60 Minor born .4/20/59 Remainder interest as a child 'of Amy Ann~ Ritter as per Article One Remainder interest as a child of Amy Anne Ritter as per Article One' Rem~inder interest as a ciild of Amy Anne Ritter as per Article One. 8.The following persons'are sui juris and hav~the indicated interests in the trust estate: Susan Duncan Ritter c/o.Mrs.Amy Anne Ritter 4101.La Playa Boulevard Coconut Grove Mi~mi,Florida 33113' William Jeffrey Ritter c/o Mrs.Amy Anne Ritter 4101 La Playa Boulevard Coconut Gr:ove Miami,.Florida 33113 . David Michael Ritter c/o Mrs.Amy Anne Ritter 4101 La Playa Boulevard Coconut Grove Miami,Florida 33133 Adult born 4/16/57 Adult born 2/8/55 Adult born 8/27/53 Remainder interest as a child of Amy Anne Ritter as per Article ·One. Remc=.inder interest as a cbild of Amy Anne Ritter as per Article One., Remainder interest as a child of Amy Anne Ritter as per Article One. 9.In addition to the persons named in paragraphs 7 and 8,any unborn or unascertained ,future issue of Am:r Anne Ritter may have an interest in the 'trust'fund under thelan.g'.lage of Article One of the Trust. 10.All minors,are children of the life tenant,Amy AnneRitter,.as stated in paragraphs 7 and'8. il.The persons and interests named in paragraph 7 are not repres'ented .by any.guardian or othe'r fiduci·ar~·..How.ever, there are living persons sui juris having a similar interest to those persons. -4- II WHEREFORE ,:..thepeti.tioner.re.quests:yom:Honorable Court, pursuant'to Se·ctions7183(2T .and 3504 of the Probate,Estates and Fidua:iaries·Code .to exerci·se -~thediscretionvested in it to deter- minewhethet·a.guardian..and·trustee ·ad litem should be appointed. Attorneys f·r The:Union Bank ·of Pittsbur.'3'h . lana Olivet Building Pittsburgh,Pa.15222 ." -5- IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNry,PENNSYLVANIA ORPHANS'..COURT DIVISION IN 'RE WALTER H.BAKER TRUST FOR ANNE .BAKER WEIMER ..) ) ) No.311 of 1970 DECREE APPOINTING GUARDIAN ;AND TRUSTEE AD LITEM . , , , AND NOW,to wit,:.this 9th OcbJber day of~1975,upon petition of The Union National Bank of Pittsburgh,it is hereby Ordered,Adjudged and ,Decreed that Eugene J.Juliac,Esquire is appointed guardian .ad li.tern of Jonathan Baker Ritter,Anne Elizabeth 'Ritter,Christopher Burns Ritter and Andrew Duncan Ritter,minors and trustee ad litem for all unborn and unascer- tained persons interested in the trust under the indenture of Walter.H.Baker for the'.benefit of Amy Anne Ritter •The,guardian and trustee ad Iitern shall have 'authority.to represent such per- sons and such ',int'erests as to all'matters invo.lved in the hearing in .the matter of the appointment of a",successor ir:dividual trustee for subject trust set down for November 24,1975. "i ~. 0" '! l-;. • ,. '. ~oo .:~ :J' :10 ,\. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNA . ORPHANS COURT DIVISION No 63-70 311 IN RE:ESTATE OF WALTER II.BAKER,DECD. PETITION FOR APPOINTMENT OF CO-TRUSTEE G'OU ~\l'~.,.,(,.-c , '<...-tr...·:;-;,I-;::--.CTi~~---1>l"11 __ en G..,:"""..,.,r·..·..··-::· --r""--,,;,>rT1 l==0:1 :~.::c::o 7:-1 .,:1r-/~."-,...:1·'~.." -"1 "..:..,.,.....:"0:;0 .'"&""-"';..'-'.--','.-.,.~--~~".__•J ...~"·ii"·""\.:r"",: (""')..;....~-.::-0" r.:).-:::;:;.~--.:;--~1 --v r--'1!""(f)- V-J WRAY G.ZELT III ATTORNEY AT LAW 23 EAST BEAU STREET WASHINGTON,PA.15301 \\ "'f PENNSYLVANIA j .\I.\\,i II, No.63-70-311 / ) ) ) ) ) , II \. PET~TI9N !OR APPOINTMENT OF CO';'TRUSTEE \ \. DECEASED. WALTER H.BAKER, \RE:,ESTATE'OF, IN TH~COURT OF COMMON PLEAS OF WASHINGTON COUNTY, ORPHANS'COURT DIVISION \\ TO THE HONORABLE,THE JUDGES OF THE SAID COURT: iI!IIIII :The petition of David Michael Ritter and William JeffrG~ J I II Ritter respectfully represent that:I' I i I 1.The income beneficiaries of the above captioned ! I trust are Amy Anne Ritter and Walter Weimer.I I r~II2.It is 'believed that the Trust Indenture,i.e.,the II1Ioriginalor'a copy thereof,is included among the papers filed at j I the above number and term and therefore said Indenture is incorpor~- I j II ted herein by reference.I II III3.The Trust created by Walter H.Baker pursuant to th~ 11 death of Anne Baker Weim~r on February 11,1975,provided that thel Ii II trust assets were to be held in trust for her ~hildren surviving ,! I he~and that the income therefrom should be paid to said aurvivingl I I J children and thereafter on the d~ath of each child,the prinCiPal! II should be divided among the children of said deceased child of iIIIilAnneBakerWeimer.".!,i !~ I iII'4.At the time of her'death on .Febru&ry 11,1975,Anne Ii II •II Baker Weimer was survived by two children,namely,Amy Anne weimerl I I !Ritter and Walter B.Weimer.I I ~Ii-:,.I II \II I Ii '1II.,l / I ,\ j I j I!.I f i .. ". Vested remainder interest as a child Amy Anne Ritter. Vested Remainder interest as a child Amy Anne Ritter. Adult born 4/16/57 Adult born 2/8/55 Adult born 8/27/53 "', The said Walter B.Weimer does'not presently have The said Amy Anne Weimer Ritter has the following Amy Anne Weimer Ritter also has the following minor 5. 6. 7. William Jeffrey Ritter Susan Duncan Ritter David Michael Ritter I I I;, II"II any'progeny. 11Ii I',J II children who are living and are sui juris and whose inte~ests inI,. II the trust estate'are'indicated:I' '1I, I'II ii il! I I I' children who are living ~nd whose interests are indicated: I 'III I I II Jonathan Baker Ritter Anne Elizabeth Ritter Christopher Burns Ritter 'Minor born 9/18/65 Minor born 1/21/63 Minor born 9/20/60 Vested remainder inte~est as a child Amy Itnne Ritter. Vested remainder interest as a child 0 Amy P~ne Ritter. Vested remainder interest as a child 0 Amy J!Jlne Rit tar. Andrew Duncan Ritter Minor born 4/20/59 Vestee remainder interest as a child Amy A~ne Ritter. Iofl I 8.In addition to the persons named above,any unborn -2.------------ or unascertained future issue of Amy Anne Ri.tter may have an I, I IByaDecreedatedOctober9,.1975,~:,our Honorable9. linterest in the trust fund. I I Icourt appointed E.J.JUlian,~~sq~,guardian and trustee ad litem ,Ifor the persons named above who are not sui juris. II III I II 1 )1., , .~ ~i .{. - 3 - William Jeffrey Ritter -remainder interest. Susan Duncan Ritter -remainder interest. Amy Anne Weimer Ritter -present income beneficiary. Walter B.Weimer -present income beneficiary.! David Michael Ritter -remainder interest.i i 1!I II IIj'tf III 1 I 1 !I, Andrew Duncan Ritter -remainder inte~est. Christopher Burns Ritter -remainder interest. Anne Elizabeth Ritter -remainder interest. Jonathan Baker Ritter -remainder interest. " (2) (3) (4) (5) (6) (7) (8) (9) (1) Your petitioners have discussed the appointment of IYourpetitionersproposeWilliamC.Ritter of 4101 The said William C.Ritter is the h~sband of Amy 14. 16. 15. C.Ritter as co-trustee with their brothe~s and disters " "il I! II I I La Playa Boulevard,Miami,Florida,as the succesgor individual II co-trustee. rII,, II Anne Weimer Ritter and the father of your petitio~ers as well asIII I their brothers and sisters listed,supra. I!-I I \ II I II 10.The Union National Bank of Pittsburgh had acted as f ~IIitrusteeforthistrustsinceitainceptionandhasbeenassisted'i il '.! :1 by an individual co-trustee during the course of the trust's I II existence in accordance with the provisions of the Trust IndenturJ. IIII',!l iII11.The most recent co-trustee,William 'G.Stewart,is I, 11r believed to have submitted his resignation as co-trustee and the I I necessity for a successor co-trustee has therefore arisen.'II I 1 1 ,1 II;,'12.The Trust Indenture provides that there will alwayo iI be two trustees and that the individual trustee is to be selected ..1liirIIbythethenexistingbeneficiaries.i i III I 13.The present beneficiaries of the trust are as II follows: I •i II1970withoutcompensationthere+•I\ - 4 - William C.Ritter served as trustee under the The said William C.Ritter is extremely wellI (b) (a) fiduciary obligations required. ation from law school and has also studied at the New York Kniseley he successfully opposed an attempt ,to reform the being preserved. Will of Walter H.Baker since by familiarizing himself with the affairs of'Walter H.Baker I and otherwise his service as trustee was co~istent with the I 1} ! informed regarding the history,affairs and provisions of theI r Anne A.Duncan Trust and following the deat~of Julia Weimer ! 1 Duncan-Baker Trust resulting in the present'interests of all l ibenefioiaries,to wit,his ohildren and wife,Amy Anne Ritter, I! i•\(c)The said William C.Ritter was himself trainedi I in and employed by the Cyclops Corporation,the stock of Which said Corporation composes the major h01ding:of the trust.I (d)He has served as custodian fpt the petitioners! '. and their brothers and sisters since the Gifts to Minors Act I was adopted by the Florida legislature in 1957.f I (e)He has more than twenty yeara experience in thb Isecuritiesinvestmentsbusinesshavingwork.ad as a registeredlIjrepresentativeoftheNewYorkStockExcha~ge following 9radu~ i!l 1!Ij Institute of Finance. IIi.,.! j )\ Ii l Ii fil~liand believe and therefore aver that it is the desi.re of their t l!brothers .and sisters that William C.Ritter be apPointed as fIf•IIi·I f :1 successor co-trustee·to replace William G.Stewart.i P •I~17.Your petitioners believe that the b~st interests of j !!the trust estate will be served if William C.Ritt.er is appointed ! :1 I 11 by reason of the following facts and circumstances:I ~,IIII "II :1 \1t}!~ !i";iI, II 11 "IiIf II I I·II " .1IIIi!I 'I\, II IIII,I11'tIi :j III, i II,I fj 'IIII:i!IiIiI',I;, I('1iiII,I :1hIIIIrIIII,. "II II'.1 .. I, .1 l' tI, I.\ i I fI! JII Ij I --1 I I~ J III Petitioners - 5 - I The said William C.Ritter has handled the tax(f) I' WHEREFORE,your petitioners pray your Honorable Court unique position to coordinate the management lof the family I assets. planning and preparation of returns fpr the petitioners and I I their brothers and 'sisters as well as Amy An~e Ritter and 1s, as ,well as in aaccordinglyfamiliarwiththeirsituation j . .the Estate of Walter H.Baker. iii j III'I I II 'I II,I appoint William C.Ritter as co-trustee of the trust created in I III.,II IIIiII IIIi.1:\ I!'1Ii!IIIitII I'I! II,Il!Ii II ; Iti, II II iI,.iI I I !;I I 18*The written consent of the proposed Ico-trustee, IWilliam C.Ritter,is attached hereto and marked Exhibit "A". I ·.". '\STATEOF~~ COUNTY OF W~SS: Before me,the undersigned authority,personally appeared DAVID MICHAEL RITTER,who,being duly sworn according to law,depo$es and says that the facts set forth in the foregoing PETITION FOR APPOINTMENT OF CO-TRUSTEE are correct and true to the .1 best of his personal knowledge,information and belief. aDavid Michael Ritter SWO~~TO and subscribed before me :thiso?~L day of .~:,1976. I, CAROL J.MOORE,Notary Publ'lc Washington,Washington Co..PII. My Commission Expires April 4,1977 CONSENT TO ACT AS CO-TRUSTEE I,WILLIAM C.RITTER,do hereby agree to accept the appointment as a co-trustee of the Trust under the Indenture,as amended,of Anne A.Duncan dated August 19,1935,for the benefit of Amy Anne Ritter,Jonathan Baker Ritter,Anne Elizabeth Ritter, Christopher Burns Ritter,Andrew Duncan Ritter,Susan Duncan Ritten, William Jeffrey Ritter and David Michael Ritter. William C.Ritter II •'.• IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA.. ORPHANS'COURT DIVISION IN RE:ESTATE OF WALTER H.BAKER, Deceased. } } }No.63-70-311 } } CONSENT On behalf of the minor children of William C.Ritter and Amy Ann Weimer Ritter,whose interests I have·been appointed by the Court to represent,I hereby Consent to the Petition of David 1Michael Ritter and William Jeffrey Ritter to appoint William C. I 'Ritter as co-trustee with the Union National BaLk of Pittsburgh in the above captioned trust estate. E.J.Julian ;:";.~.) I ,L L L p ;'Ib FEB n /1 -,In "0di:-If '..l <f>•.... i.... Ii.";:..."-,'.'1 T n t:"G If'",-.''/'LI ~•\L:'•,j J I.',.,~,.-\.-'..:;';l'.'/SH1J'",',"1 -,n p' ,A f..~~'.f.\. \..J ORPHANS'COURT DIVISION 1"-• ) ) ) ) ) NO.63-70-311 1iII 'j .'...• ~I ;II IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION J " I'IN RE:ESTATE OF Il WALTER H.BAKER, DECEASED. ) ) )NO.63-70-311 ) ) CONSENT TO THE APPOINTMENT OF A CO-TRUSTEE AND NOW,February __~5~th~,1976,I hereby consent to the appointment of Evans Rose,Jr.as a co-trustee in behalf of Amy Anne Ritter. ----;?-M:.<:....;-;~7-J/6;-!-W;:...:::..'__,~~~':¥-J{-;-Q~_-~_'L_~£(......i.~/__(SEAn,) ?Walter B.Weimer I III ---i IN THE COURT OF COMMON PLEAS OF ALLEGHENY COUNTY, PENNSYLVANIA '~ (,.A.) • 1-..• "";--"'f I ,I 'I 'I, ORPHANS'COURT DIVISION No.311 of 1970 IN RE WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER PETITION FOR DISCHARGE OF INDIVIDUAL TRUSTEE AND CONFIRMATION OF APPOINTMENTS OF SUCCESSOR TRUSTEES •';~~t"" ~1:i t .,... !o--'I ;.,.!.-~.,~:~';S:t~J°Ir:1 '.'1.~'.~i Jc~~~~J ::,.···/1·; \' '. <-- ','J.' Robert F.Patton James w.Ummer BUCHANAN.INGERSOLL,RODEWALD,KYLE &BUERGER 57th F1r.XMi1§}OK~~600Grant PITTSBURGH,PA.~St. 15219 TELEPHONE 562·8800 ----- ,f'";';' ,"I~,"-/ ()J'., I I~V:J 9/" 0"~~, r f. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION 11 'I IN RE IWALTER H.BAKER TRUST FOR ANNE BAKER WEIMER ) ) ) ) No.311 of 1970 b~-7d-3/1 I,i~., PETITION FOR DISCHARGE OF INDIVIDUJL TRUSTEE AND CONFIRMATION OF APPOINTMENTS OF SUCCESSOR TRUSTEES TO THE HONORABLE,THE JUDGE OF SAID COURT: AND NOW comes The Union National Bank of Pittsburgh, 1\ surviving trustee under the trust indenture of Walter H.Baker dated August 25,1936,for Anne'Baker Weimer,her€inafter re- ferred to as the "trustee",by its attorneys,Buchanan,Ingersoll, "i Rodewald,Kyle &Buerger,and hereby presents the following: ,~I 1.Walter H.Baker entered into an inter vivos trust indenture with Edward L.Stockdale and The Union~ational Bank 'I•.of Pittsburgh the 25th day of Apgust,1936. 2.A Second and Partial Account was filed at No.311 !l of 1970.By a decree of distribution dated Augus~27,1970,the II trust fund was awarded to William G.Stewart as successor in- II dividual trustee and The Union National Bank of Pittsburgh as surviving trustee for further administration and accounting. 3.A Third and Partial Account was filed by trustee and was called for audit before your Honorable Court on September 9,1975.A purpose of that account was to prOVide for the dis- tribution of the trust corpus into two separate continuing trusts, one for the benefit of Amy Anne Ritter and one for the benefit II'i;~;of Walter B.Weimer,as succe,ssor life income beneficiaries, II for further administration under the governing terms of the I,trust indenture. • " 4.William G.Stewart has tendered his resignation to serve as individual trustee with respect to both of the continuing trusts.Said resignation is attached hereto as Exhibit A and made a part hereof. 5.The language governing the appo~ntment of a successor trustee is contained in:ARTICLE TEN of the trust indenture and reads in part as follows: The successor or alternate individual trustee here- under shall be U.Grant Miller of Washington,Pennsyl- vania,in the event of the death or decl~nation to serve for.any reason b'f:"Edward L.Stockdale hereinbefore named.There shall always be two co-trustees,an individual and a corporate tr.ustee.Dur~ng the life- time of Anne Baker Weimer she shall have the right at any time or from time to time to change either or both the individual and the corporate trustee herein named and, following the death of Anne Baker Weimer J a majority in interest of the then beneficiaries of the trust created by this indenture who are sui juris may at any time or from time to time upon filing their request eor election in writing change either or both the individual and corporate trustee herein named. 6.With respect to the trust for the benefit of Amy Anne Ritter,said income beneficiary has nominated J.Evans Rose,Jr.as successor individual trustee,whose acceptance of such appointment is attached hereto as Exhibit B and made a I part hereof:. 7.With respect to the trust for the benefit of Walter Baker Weimer,said income beneficiary has nom~na~ed Joseph Duncan Kniseley as successor individual trustee,whose ~cceptance of such-appointment is attached hereto as Exhibit C and made a part hereof. 8.The trust provision under which said income beneficiaries and any and all remaindermen depive their interests is contained in ARTICLE ONE and reads in part as rollows: -2- .'r " Upon the death of Anne Baker Weimer afcresaid,the Fund shall be equally divided into as many ~arts as there are children of Anne Baker Weimer surviving her,and a separate trust with respect to each part shall be continued for each of said survivir.g children of Anne Baker Weimer.From the net income arising from each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid an equal proportionate part of the life insurance premiums on the policy or policies on the life of David P.Weimer, Jr.,as aforesaid,and the remainder of the net income from each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid to each child respectively of Anne Baker Weimer,the beneficiary of said respective trusts,not less frequently than quarter-yearly for and during the period of his or her life.Upon the death of each of said children of Anne Baker Weimer,respectively,the trust as to such child shall terminate and the Trustees shall thereupon pay over and deliver to the issue of said child,in equal parts,the property then constituting said trust estate for his or her benefit,together with all accumulated or accrued income thereon,free from all trusts, absolutely and in fee simple.In default or issue of any child of Anne Baker Weimer surviving at the death of said child,said child's trust property shall con- tinue to be held in trust by the Trustees,in equal parts, for the sisters and brothers of said child s~deceased, subject to the provisions of this indenture.In default of issue and surviving sisters and brothers Jf said child of Anne Baker Weimer so deceased,the property held in trust for said child of hers so dece~sed shall be paid over and delivered to their next of ~in of the blood of Anne Baker Weimer as the laws of th:State of Pennsylvania would have been entitled to the same if said child of Anne Baker Weimer had been leg~lly seized and possessed of his or her respective share of said Fund in his or her own right and had died intestate, and for this purpose said children of Anne Baker Weimer shall be considered citizens of Pennsylvania without regard to the place in which they shall reside at the time of his or her death.As to any child o~Anne Baker Weimer who may be born after the date of the death of the Grantor herein named,any property held in trust for said child hereunder,together with all accumulated or accrued income thereon,shall be paid over and delivered to said child,free from all trusts,absolutely and in fee simple,when said child shall have attained the age of twenty-one (21)years,and the trust as to said child shall then be terminated.:If any property is.held in trust for any beneficiary hereunder or shall go to persons who shall be less than twenty-one (2~)years of age,the income therefrom,or so much thereo~as shall be necessary,shall be paid over by said Trustees for the maintenance,education and support of such minors. 9.The following persons are sui juris and have the indicated interests in the separate trust estate for Amy Anne Ritter: -3- '. Susan Duncan Ritter c/o Mrs.Amy Anne Ritter 4101 La Playa Boulevard Coconut Grove Miami,Florida 33133 W.Jeffrey Ritter c/o Mrs.Amy Anne Ritter 4101 La Playa Boulevard Coconut Grove Miami,Florida 33133 D.Michael Ritter c/o Mrs.Amy Anne Ritter 4101 La Playa Boulevard Coconut Grove Miami,Florida 33133 Adult born 4/16/57 Adult born 2/8/55 Adult born 8/27/53 Remainjer interest as a chilj of Amy Anne Ritter as per Article One. Remainder interest as a child of Amy Anne Ritter as per Article One. Remainder interest as a child of Amy Anne Ritter as per Article One. 10.There are at this time no issue 0=Walter B. Weimer,sui juris or minors. 11.Eugene J.Julian,Esq.has been appointed by this Court to serve as guardian ad litem of Jonathan Baker Ritter,Anne Elizabeth Ritter,Christopher Burns Ritter,and Andrew Duncan Ritter,the minor children of Amy Anne Ritter, and trustee ad litem for all unborn and unascertained persons interested in said trust for the benefit of Amy A~ne Ritter. l2~The report filed by Eugene J.Julian,Esq.as tru~ tee ad litem for all unborn and unascertained .per~ons interested in the trust for the benefit of Amy Anne Ritter has like appli- cation for all unborn and unascertained persons in the trust for the benefit of Walter B.Weimer. WHEREFORE,the petitioner requests your Honorable, Court to discharge William G.Stewart from his office as individ- ual trustee,conditioned upon the absolute confirmation of his account and the transfer of the trust assets in accordance with the adjudication thereof,and to confirm the appointment of Joseph Duncan Kniseley by Walter B.Weimer ..as successor individual trustee of the trust continuing for his benefit an~to determine - 4 - " who shall be appointed as successor individual trustee of the trust continuing for the benefit of Amy Anne Ritter. 5 .'. IN THE COURT OF COMMON PLEAS OF ALLEGHENY CODTITY.PENNSYLVANIA ORPHANS'COURT DIVISION IN RE WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER DECREE No.311 of 1970 +t --.fIv1ANDNOW,to-wit,this ~day of i·I If ')I ,1976, upon consideration of the within Petition,J,{;vAIJ...r :eOSE;..j,e is hereby appointed as successor individual trustee of that share of the trust under the indenture of Walter H.Baker dated August 25,1936,that will continue for the benefit of Amy Anne Ritter, and Joseph Duncan Kniseley is hereby appointed as successor in- dividual trustee of that share of the trust under the indenture of Walter H.Baker dated August 25,1936,that will continue for the benefit of Walter B.Weimer. .,.". IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER ) ) ) ) No.311 of ::"970 REQUEST FOR DISCHARGE FROM DUTIES AS INDIVIDUAL TRUSTEE WHEREAS,Walter H.Baker entered into an inter vivos trust indenture with Edward L.Stockdale and The Union National Bank of Pittsburgh the 25th day of August,1936. WHEREAS,a Second and Partial Account was filed at No.311 of 1970 and by decree of distribution dated August 27, 1970,the trust fund was awarded to William G.Stewart as successor individual trustee to Edward L.Stockdale with The Union National Bank of Pittsburgh as surviving trustee. WHEREAS,a Third and Partial Account was filed by trustees and was called for audit before your Honorable Court on September 9,1975. NOW,THEREFORE,William G.Stewart,does hereby resign his appointment as indiv!dual trustee,successvrL00 Edward L.Stockdale,conditioned upon the absolute confirmation of his account. EXHIBIT "A" ,.,'rO ", IN THE COURT OF COMMON PLEAS OF WASHINGTON COUN':::Y,.PENNSYLVANIA ORPHANS'COURT DIVISION IN RE J WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER ) ) ) ) No.311 of 1970 ACCEPTANCE OF APPOINTrlliNT AS INDIVIDUAL TRUSTEE WHEREAS,Walter H.Baker entered in~o an inter vivos trust indenture with Edward L.Stockdale and The Union National Bank of Pittsburgh the 25th day of August,1936. WHEREAS,a Second and Partial Account was filed at No.311 of 1970 and by decree of distribution dated August 27, 1970,the trust fund was awarded to William G.St~wart as successor individual trustee to Edward L.Stockdale with The Union National Bank of Pittsburgh as surviving tr~stee.' WHEREAS,a Third and Partial Account was filed by trustees and was called for audit before your Honorable Court on September 9,1975. WHEREAS,William G.Stewart,said indiv~dual trustee' has tendered his resignation to continue to serve in such capa- city with respect to the trust for ~the benefit of Amy Anne Ritter. NOW,THEREFORE,I hereby agree to accept the appointment as successor individual trustee under the terms of said trust agreement of Walter H.Baker. EXHIBIT liB" ",.,,."'.. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,.PENNSYLVANIA ORPHANS'COURT DIVISION IN RE WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER ) ) ) ) No.311 of 1970 ACCEPTANCE OF APPOINTMENT AS INDIVIDUAL TRUSTEE WHEREAS,Walter H.Baker entered into ~n inter vivos trust indenture with Edward L.Stockdale and The Union National Bank of Pittsburgh the 25th day of August,1936. WHEREAS,a Second and Partial Account ~as filed at No.311 of 1970 and by decree of distribution dated August 27, 1970,the trust fund was awarded to William G.Stewart as successor individual trustee to Edward L.Stockd~le with The Union National Bank of Pittsburgh as surviving t~ustee. WHEREAS,a Third and Partial Account w~s filed by trustees and was called for audit before your Honorable Court on September 9,1975. WHEREAS,William G.Stewart,said individual trustee has tendered his resignation to continue to serve in such capa- city with respect to·the trust for the benefit of Walter Baker Weimer. NOW,THEREFORE,I hereby agree to accept the appoint- ment as successor individual trustee under the terms of said trust agreement of Walter H.Baker. EXHIBIT "e" iJ ·1I Iii~1'6 I.Ii, III I f! No.3.il of 1970 ) ) ) ) DECREE ORPHfu~S'COURT DIVISION -11 AND ~OW,to-wit,this 5'--da~{of 1'1A\:!,1976, upon consideration of the within Petition..J.{;v/,Lv'-("I!OJ-c,;-.}I( ;.ii Hii'I!''ji!q Ii it .II'IIi IN THE COURT OF COr-UVION PLEAS OF ALLEGHENY ·:OUNTY,PE1,:NSYLVANIA iIIIiiII .1:H., II II 11 IN REP11IiWALTER H.BAKER TRUST 11 FOR ANNE BAKER ~'lEn1ERiii! II11IIilIfIiq il IIIi is hereby appointed as successor individual trustee of that share IIIt of.the trust under the indenture of WaIte:::H.Baker dated August· 'I!I:1 25"1936.,that will continue for the benefit of Amy Anne Ritter II;II ji and Joseph Duncan.Kniseley is hereby appointed as Sl:.ccessor in- nIi dividual trustee of that share of the trust under tr.e indenture.'il.: of Walter H.Baker dated August 25,1936,that.will -continue for thebenefitof Walter B.Weimer. I I, i!! (,h••.J ~n tire QInurt nf QInmmnn JUrns nf IInsqingtDn OInunty. 'rnnsylttnuia,(@rp4nns'arn1U1 Ditrlswn ESTATE OF No 63-70-311.--~~~~-=-='--------- WALTER H.BAKER TRUST for ANNE BAKER WEIMER In the matterofthe Third and Final Account of·Will i a mG.St e IJart,Suecess 0 r Individual .Trustee and The Union National Bank of Pittsbllrgb, Surviving Trustee ADJUDIC~JON AND DECREE And now June c2-5:t;:::,19~,this matter came on for hearing, audit and distribution at this session and testimony taken;and thereupon,upon due considerationthere~f bhe ~ala~le for distribution in the hands of the Accountant is detetmined to be $8,3 3.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 made a part hereof,unless exceptions hereto be filed sec.reg.or an appeal be taken herefrom sec.leg. -~~C "J. SCHEDULE OF DISTRIBUTiON Balance per account $181.391.3 0 Additional Debit -Audit 6,456.23 187,847.53 Additional Credit -Audit 7,463.97 Balance $!80,383.56 Deduct Clerk's Costs &Receipts'-I Attorney Robert .F.Patton for Buchanan,Ingersoll, Rodewald,Kyle and £uerger E.J.Julian,Esquire -Services as Guardian Ad Litem 220.061 180,163.56 89,999.31 .5C 110.0).~q,164.L[ 9,500.0n d-:-:-~JD 90,274.2 12,539.3 3 ,985 .8~ Subject to payment of share of Guardian Ad Litem fee J.Evans Rose,Jr.and The.Union National Bank of Pittsburgh,Trustees under the Walter H. Baker Trust for Anne Baker Weimer,Share of Amy Anne W.Ritter for further Administration including the following assets,.held in kind and distributed .as such at the values shown; having .been equalized with cash based upon mean.market values of securities as of February 11,1975: 680 shares American Telephone.and Telegraph Co.,Cap •.,-IS ,650.4E 145 shares American Telephone and Tele.Co.,$4.00. Convertible Pref.8,536.3~ 4,244 shares Cyclops.Corp.,Com~36~163.0E 125 shares E.I.'duPont.de Nemours and Co.,Com. 167 shares General Electric Co.,Common 170 shares General Motors Corp.Common 1,144 shares Texaco,.Inc.Cap. The .Union National Bank of Pgh. Master Savings Account Principal Cash Income Cash , ,-~"....,.-~! ',.-~_-:c_:. ~ ,..,f " •-. Estate of Walter H.Baker Trust for Anne Baker Weimer 89,999.31 NO BALANCEt9,999.31 •Sf 110.0( 3,830.5 .. 15,650.4E 12·,539.36 3,985.8~ 4,300.0( 69.11 .38.6~· 90,109.3 Subject to payment of share of Guardian Ad Litem fee Joseph Duncan Kniseley and The Union National Bank of Pittsburgh,Trustees under the Walter H.Baker Trust for Anne Baker Weimer, Share of Walter B.Weimer,for further . Administration including.the following assetc , held in kind and distributed.as such at the values .shown;having been equalized with cash based upon mean market values of the securities as of February 11,1975: 680 shares American Telephone &Tele.Co.,Cap. 145 shares American.Tele.& Tele.Co .•$4.00 .. Convertible Ptef.8,536.3~ 4,245 shares Cyclops.Corp.,Com •.36,171.6( 125 shares E.1.duPont de Nemours &Co.,.Com. 167 shares·General Elec ....Co. Common 170 shares General Motori Cor~.Common 1,144 shares Texaco,Inc.Cap •.. United States of America Treasury Notes 7.75%5,000 dated 11/15/74 due 11/15/77 4,986.8t The Union National Bank of;Pgh. Master Savings Account Principal Cash Income Cash - 2 - .. ~ 0~~ tr ::J n i 0' 0 0+ 0+ c::T (1) ::J (1) 0+ ....0 3 ~ ~ 0 ~ ....0 ~ :+(1)., = 0-t\ 0+ ~ :T(1) & ~~~. ~ ( ,-OJ I;' ..:. ~l ! .t. - IN THE COURT OF COM..TI.10N PLEAS OF WASHINGTON COUNTY,PENNA. ORPHANS'COURT DIVISION No.63-70-311 IN RE: WALTER H.BAKER TRUST SHARE FOR AMY ANNE RITTER ~........-. \ ", ~i.r I <-- ~~.1,,. PETITION FOR DECLARATORY JUDGMENT UNDER THE UNIFORM DECLARATORY JUDGMENT ACT 0 1923,AS SUPPLEMENTED AN M~ENDED 5S j,fl.,3-590ELEPHONE 1562.8800 '~::i "00 NO.1 "NIl/SlfA1 S n /lit :J tJ (jJ1.SIf)3U 1 WII1 !"~:-t~.lr,i,',I..I.,..t • ,."'.;)E\~11 ,.~••1 Ud E2 flOW 91 4to...,.~~J f-OJ-~.,"!.,.,........1:'0 I .~. -..; &• IN THE COURT OF COr~10N PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: WALTER H.BAKER TRUST SHARE FOR AMY ANNE RITTER No.63-70-311 PETITION FOR DECLARATORY JUDGMENT UNDER THE UNIFORM DECLARATORY JUDGMENT ACT OF 1923, AS SUPPLEMENTED AND N~ENDED TO THE HONORABLE,THE JUDGES OF SAID COURT: AND NOW comes J.Evans Rose,Jr.,individual trustee, and The Union National Bank of Pittsburgh,corporate trustee, under the trust indenture of Walter H.Baker dated Aucust 25, 1936,for Amy Anne Ritter,hereinafter referred to as the "Petitioners",by their attorneys Buchanan,Ingersoll,Rodewald, Kyle &Buerger,and hereby present the following undeI Sections I831 and 834 of the Uniform Declaratory Judg~ent Ac~ar.d Section 1711(1)of the Pennsylvania Probate,Estates and Fiduciaries Code: 1.Walter H.Baker entered into an inter vivos trust indenture with Edward L.Stockdale and The Union Naticnal Bank of Pittsburgh on August 25,1936. 2.A Second and Partial Account was filed at No.311 of 1970.By a decree of distribution dated August 27,1970, the trust fund was awarded to William G.Stewart as successor individual trustee and The Union National Bank of Pittsburgh as surviving trustee for further administration and accounting. 3.A Third and Partial Account was filed at No. 63-70-311.A purpose of that account was to provide for the distribution of the trust corpus into two separate continuing .' trusts,one for the benefit of Amy Anne Ritter and one for the benefit of Walter B.Weimer,as successor life income benefi- ciaries and to appoint a successor individual trustee to each such continuing separate share to be retained in trust. 4.The said trust indenture provides in AR~ICLE TEN the governing language with respect to the appointment of co- trustees as follows: . . . a majority in interest of the then.beneficiaries of the trust created by this indenture who are sui juris may at any time or from time to time upon filing their request or election in writing change either ~r both the individual and corporate trustee herein named.:Emphasis added.] 5.By a decree of distribution dated June 25,1976, the trust fund was awarded in separate equal shares as follows: (a)a one-half share to J.Evans Rose,Jr.,the individual trustee nominated by Amy Anne Ritter,life income ~eneficiary of such share,and consented to by Walter B.Weime~,life income beneficiary of the other of such shares,and The U~io~National Bank of Pittsburgh;and (b)the other such one-halE share to Joseph Duncan Kniseley,the individual trustee nominated by Walter B.Weimer,life income beneficiary of such ahare and whose appointment was consented to by Amy Anne Rit~err life income beneficiary of the other of such shares and The Union National Bank of Pittsburgh. 6.Walter B.Weimer has requested the t=ustees to liquidate a portion of the common stock of Cyclops Corporation retained as an investment in the share held in trust in which he is the sole life income beneficiary. 7.Amy Anne Ritter has requested the Petitioners to obtain clarification from your Honorable Court as to the notifi- cation requirements for a liquidation of portions of the common stock of Cyclops Corporation retained as an investnent in the trust for which she is the sole life income beneficiary. -2- I.I .' 8.The trust provision under which said Amy Anne Ritter's income interest and her issue's remainder interests in the trust fund are derived is contained in ARTICLE ONE and reads in part as follows: Upon the death of Anne Baker Weimer aforesaid,the Fund shall be equally divided into as many parts as there are children of Anne Baker Weimer surviving her, and a separate trust with respect to each part shall be continued for each of said surviving children of Anne Baker Weimer.From the net income arising from each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid an equal proportionate part of the life insurance premiums on the policy or policies on the life of David P.Weimer,Jr.,as afore- said,and the remainder of the net income from e~ch of said separate trusts for the surviving children of Anne Baker Weimer shall be paid to each child respectively of Anne Baker Weimer,the beneficiary of said reEpective trusts,not less frequently than quarter-yearly for and during the period of his or her life.Upon the ceath of each of said children of Anne Baker Weimer,respectively, the trust as to such child shall terminate and tte Trustees shall thereupon pay over and deliver to the issue of said child,in equal parts,the property tnen consti- tuting said trust estate for his or her benefit,together with all accumulated or accrued income thereon,free from all trusts,absolutely and in fee simple.In default of issue of any child of Anne Baker Weimer surviving at the death of said child,said child's trust property shall continue to be held in trust by the Trustees,in equal parts,for the sisters and brothers of said child so deceased,subject to the provisions of this indenture. In default of issue and surviving sisters and brcthers of said child of Anne Baker Weimer so deceased,the property held in trust for said child of hers so deceased shall be paid over and delivered to their next of kin cf the Blood of Anne Baker Weimer as the laws of the State of Pennsylvania would have been entitled to the same if said child of Anne Baker Weimer had been legally seized and possessed of his or her respective share of said Fund in his or her own right and had died intestate, and for this purpose said children of Anne Baker Weimer shall be considered citizens of Pennsylvania without regard to the place in which they shall reside at the time of his or her death.As to any child of Anne Baker Weimer who may be born after the date of the death of the Grantor herein named,any property held in trust for said child hereunder,together with all accumulated or accrued income thereon,shall be paid over and delivered to said child,free from all trusts,absolutely and in fee simple,when said child shall have attained the age of twenty-one (21)years,and the trust as to sai~child shall then be terminated.If any property is hel~in trust for any beneficiary hereunder or shall go t~ persons who shall be less than twenty-one (21)years of -3- -----------~--------------------------------------~ .. age,the income therefrom,or so much thereof as shall be necessary,shall be paid over by said Trustees:£or the maintenance,education and support of such minors. 9.Amy Anne Ritter has at this time the following sui juris children:Susan Duncan Ritter,W.Jeffery ~itter and D.Michael Ritter. 10.Contained in ARTICLE THREE of the subject trust indenture is the following language restricting the sale of the preferred stock of Universal Steel Company,predecessor to Cyclops Corporation: No part of the preferred stock of Universal Steel Company hereby transferred by the Grantor shall be sold at any time without the consent in writing of a majority in interest of the then beneficiaries of the trust created by this indenture who are sui juris.[Emphasis added.] 11.Walter H.Baker deposited 1,000 shares of the six (6%)percent preferred stock of Universal Steel Corporation and no shares of said company's common stock at the inception of the trust.Through the merger of Universal Steel Corporation with Cyclops Steel Company on Decewber 23,1936,your Petitioners !received 7,000 shares of the common stock of the successor IUniversal-Cyclops Steel Company,now Cyclops Corporat~on.On May 14,1937,Walter H.Baker deposited an additional 3,348 shares of Universal-Cyclops Steel Company common stock. 12.Your Petitioners are advised and believe that all or a substantial portion of the shares of common stock of Cyclops Corporation now reta~ned as an investment in the subject trust are impressed with the investment restriction contained in said ARTICLE THREE which Walter H.Baker placed upon the shares of preferred stock of Universal Steel Corporation which were .initially deposited. 13.Your Petitioners are advised and believe that to adhere to the direction of Walter H.Baker contained in ARTICLE -4- THREE of trust indenture that the Petitioners must gi~e notice to and obtain the consents of "the then beneficiaries of the trust created by this indenture who are sui juris"before any sales of Cyclops Corporation common stock are made by the trus~ees. 14.Your Petitioners are advised and believe that your Honorable Court has addressed itself in the course of the audit of the Third Account to an interpretation of the same language,al- though not that contained in ARTICLE THREE,but as used in ARTICLE TEN of said trust indenture with respect to the ap?ointment of the successor individual trustee. 15.Your Petitioners are advised and believe that be- cause your Honorable Court has most recently addre3sec itself to the interpretation of ARTICLE TEN of said trust indenture in the course of the audit of the Third and Partial Account that a decree I pursuant to Sections 831 and 834 of the Uniform Declaratory Judg- ment Act providing for a hearing to interpret sUbstantially the same language provides an expeditious and effective method to establish the meaning of the subject language of ARTICLE THREE of said trust indenture. WHEREFORE,the Petitioners request your Honorable Court, pursuant to Sections 831 and 834 of the Uniform Declaratory Judg- ment Act to enter a decree directing all parties i~interest, either in person or by their respective attorneys,to ~ppear be- fore your Honorable Court,there to present oral argum:nt for the determination by your Honorable Court as to the prcper interpreta- tion of the phrase "the then beneficiaries of the trust created by this indenture who are sui juris",as that phrase appears in ARTICLE THREE of the trust indenture between Walter H.Baker and Petitioner. 15219 -5- -,.. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: WALTER H.BAKER TRUST SHARE FOR AMY ANNE RITTER ) ) ) ) ) No.63-70-::11 NOW,to-wit, PRELIMINARY ORDER. this:L S~ay of ,d/~/1976,it is hereby ordered in accordance with the provisions of Sections 831 and 834 of the Uniform Declaratory Judgment Act that the trustees of the trust created by Walter H.Baker,designated by the number and term above shown,give notice to aLl parties in interest to appear and present oral argument for the determina- tion as to the proper interpretation of the phrase "the then beneficiaries of the trust created by this indenture vho are sui juris",as that phrase appears in Article Three of the trust indenture~on ~2.L ,1976,at 9 -:3 0 /1 ...11.~~7<~~o,r/rJ~Zr.-.~-,~1If>-U-?-e /~~~~7 .1~~."':..-~/~.. '''td "00 tHH~·i'llHS\'tA <'"j"11'~.I.'"'~·:1 !~:I '1'1 ~I".1(..~I.J \.,l,••_v.v.:iCl i \,!\'n !(~1:'1 ,.,H,.,:J..._t;",'¥•'.'_I.,.t .....I;~_.,.~ -j .~ rr: II·, ~\ IN THE COURT OF CO~~ON PLEAS OF WASHINGTON COUNTY,PENNA. ORPHANS'COURT DIVISION No.63-70-311 IN RE: WALTER H.BAKER TRUST SHARE FOR WALTER WEIMER ~~James W.Urnrner,Esq. B!JCHANAN,INGERSOLL,RODEWALD.KYLE &BUER 57th FLOOR -600 GRANT STREET PITTSBURGH,PA.15219 /;{g=-~'fJlJLEPHONE!l62·88oo 65 II'r-;"nIl nL!-;d t<.,nun :J :s I (J.-''''0 •..~t i.._.~i r - .:••;t I t _...I ..... '. " <t ' IN THE COURT OF CO~1MON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: WALTER H.BAKER TRUST SHARE FOR WALTER WEIMER No.63-70-31:.. PETITION FOR DECLARATORY JUDm1ENT UNDER THE UNIFORM DECLARATORY JUDGMENT ACT OF 1923, AS SUPPLEMENTED AND AMENDED TO THE HONORABLE,THE JUDGES OF SAID COURT: \I AND NOW comes Joseph Duncan Kniseley,individual trustee, and The Union National Bank of Pittsburgh,corporate trustee, under the trust indenture of Walter H.Baker dated August 25, 1936,for Tv'lalter v7eimer,hereinafter referred tOo as the "Petitioners",by their attorneys Buchanan,Ingerso=-l,Rodewald, Kyle &Buerger,and hereby present the following under Sections 831 and 834 of the Uniform Declaratory Judgment Act and Section 711(1)of the Pennsylvania Probate,Estates and ?iduciaries Code: 1.Walter H.Baker entered into an in~er vivos trust indenture with Edward L.Stockdale and The Union National Bank of Pittsburgh on August 25,1936. 2.A Second and Partial Account was f~led at No.311 of 1970.By a decree of distribution dated August 27,1970,the ~rust fund was awarded to William G.Stewart as successor indi- vidual trustee and The Union National Bank of Pittsburgh as sur- viving trustee for further administration and accounting. 3.A Third and Partial Account was filed ~t No.63-70- 311.A purpose of that account was to provide fer t~e distribu- tion of the trust corpus into two separate continuing trusts,one <'' for the benefit of Amy Anne Ritter and one for the benefit of Walter B.Weimer,as successor life income beneficiaries and to appoint a successor individual trustee to each such continuing separate share to be retained in trust. 4.The said trust indenture provides in ARTICLE TEN the governing language with respect to the appointment of co- trustees as follows: . ...a majority in interest of the then beneficiaries of the trust created by this indenture who are sui juris may at any time or from time to time upon filing their request or election in writing change either or both the individual and corporate trustee herein naned.[Emphasis addeQ.]. 5.By a decree of distribution dated June 25,1976, the trust fund was awarded in separate equal shares as follows: (a)a one-half share to J.Evans Rose,Jr.,the individual trustee nominated by Amy Anne Ritter,life income b:neficiary of such share,and consented to by Walter B.WeimeI,life income beneficiary of the other of such shares,and The Union National Bank of Pittsburgh;and (b)the other such one-half share to Joseph Duncan Kniseley,the individual trustee nominated by Walter B.Weimer,life income beneficiary of such share and whose appointment was consented to by Amy Anne Ritter,li=e income beneficiary of the other of such shares and The Union National Bank of Pittsburgh. 6.Walter B.Weimer has requested the Petitioners:to liquidate a portion of the common stock of Cyclo?s Corporation retained as an investment in the share held in t.~ust in which he is the sole life income beneficiary. 7.The trust provision under which said ~alter B. Weimer's income interest and his issue's remainder interests in the trust fund are derived is contained in ARTICLE ONE and reads in part as follows: -2-I i .,' Upon the death of Anne Baker Weimer aforesaid,the Fund shall be equally divided into as many parts as there are children of Anne Baker Weimer surviving her, and a separate trust with respect to each part shall be continued for each of said surviving children of Anne Baker Weimer.From the net income arising frcm each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid an equal propcrtionate part of the life insurance premiums on the policy or policies on the life of David P.Weimer,Jr.,as afore- said,and the remainder of the net income from each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid to each child respe~tively of Anne Baker Weimer,the beneficiary of said respective trusts,not less frequently than quarter-yearly for and during the period of his or her life.Upon the death of each of said children of Anne Baker Weimer,respectively, the trust as to such child shall terminate and the Trustees shall thereupon pay over and deliver ~o the issue of said child,in equal parts,the property then consti- tuting said trust estate for his or her benefi~,together with all accumulated or accrued income thereon.free from all trusts,absolutely and in fee simple.In default of issue of any child of Anne Baker Weimer surviv~ng at the death of said child,said child's trust property shall continue to be held in trust by the Trustees,in equal parts,for the sisters and brothers of said child so deceased,subject to the provisions of this incenture. In default of issue and surviving sisters and brothers of said child of Anne Baker Weimer so deceased,t~e property held in trust for said child of hers so deceased shall be paid over and delivered to their next of kir.of the blood of Anne Baker Weimer as the laws of the Etate of Pennsylvania would have been entitled to the same if said child of Anne Baker Weimer had been legally seized and possessed of his or her respective share of said Fund in his or her own right and had died intestate, and for this purpose said children of Anne Baker Weimer shall be considered citizens of Pennsylvania without regard to the place in which they shall reside ~t the time of his or her death.As to any child of Anne Baker Weimer who may be born after the date of the de~th of the Grantor herein named,any property held in trust for said child hereunder,together with all accumulated or accrued income thereon,shall be paid over and delivered to said child,free from all trusts,absolutely and in fee simple,when said child shall have attained the age of twenty-one (21)years,and the trust as to said child shall then be terminated.If any property is held in trust for any beneficiary hereunder or shall go to persons who shall be less than twenty-one (21)years of age,the income therefrom,or so much thereof as shall be necessary,shall be paid over by said Trustees for the maintenance,education and support of such minors. 8.Walter B.Weimer,the income beneficiary,has at this time no issue. -3- t • 9.Contained in ARTICLE THREE of the subject trust indenture is the following language restricting the sale of the preferred stock of Universal Steel.Company,predecEssor to Cyclops Corporation: No part of the preferred stock of Universal Steel Company hereby transferred by the Grantor shall be sold at any time without the consent in writing of a majority in interest of the then beneficiaries of the trust created by this indenture who are sui juris.[Emphasis added.] 10.Walter H.Baker deposited 1,000 s~ares of the six (6%)percent preferred stock of Universal Steel Corporation and no shares of said company's common stock at the inception of the trust.Through the merger of Universal Steel Corporation with Cyclops Steel Company on December 23,1936,your Petitioners received 7,000 shares of the common stock of the successor Universal-Cyclops Steel Company,now Cyclops Cor?oration.On May 14,1937,Walter H.Baker deposited an additional 3,348 shares of Universal Cyclops Steel Company common steck. 11.Your Petitioners are advised and believe that all ~r a substantial portion of the shares of common stock of ~yclops Corporation now retained as an investment in the subject ~rust are impressed with the investment restriction contained in said ARTICLE THREE which Walter H.Baker placed ~pon the shares of preferred stock of Universal Steel Corporatior.which were ~nitially deposited. 12.Your Petitioners are advised and believe that to adhere to the direction of Walter H.Baker contained in ARTICLE THREE of the trust indenture that the Petitioners must give notice to and obtain the consents of "the then be~eficiaries of the trust created by this indenture who are sui j~riE"before any sales of Cyclops Corporation common stock are made by the trustee. 13.Your Petitioners are advised and be~ieve that your H~norable Court has addressed itself in the course of the audit -4- ;,. !of the Third Account to an interpretation of the seme language, !although not that contained in ARTICLE THREE,but cs used in ARTICLE TEN of said trust indenture with respect tc the appoint- ment of the successor individual trustee. 14.Your Petitioners are advised and believe that be- cause your Honorable Court has most recently addres3ed itself to the interprebation of ARTICLE TEN of said trust indenture in the course of the audit of the Third and Partial Accoun~that a decree pursuant to Sections 831 and 834 of the UniformDec~aratory Judg- ment Act providing for a hearing to interpret substantially the same language provides an expeditious and effective method to establish the meaning of the subject language of ARTICLE THREE of said trust indenture. WHEREFORE,the Petitioners request your Honorable Court, ~ursuant to Sections 831 and 834 of the Uniform Declaratory Judg- ment Act to enter a decree directing all parties in interest, either in person or by their respective attorneys,to appear be- =ore your Honorable Court,there to present oral argument for the determination by your Honorable Court as to the proper interpreta- tion of the phrase "the then beneficiaries of the trust created 0y this indenture who are sui juris",as that phrase appears in ARTICLE THREE of the trust indenture between Walter E.Baker and ~etitioner. c!f;'J~MJ~1Attprneysforthetrustees 57~h Floor -600 Grant Street P'ttsburgh,Pennsylv~nia 15219 (412)562-8800 -5- .. IN THE COURT OF Cm1MON PLEAS OF T.-JASHINGTON COUNTY.PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: WALTER H.BAKER TRUST SHARE FOR WALTER TrillIMFR ) ) ) ) ) No.63-70-311 PRELIMINARY ORDER ;uI Nm'J,to-wit,this )3 .-'day of P~.,1976, it is hereby ordered in accordance with the proJisions of Sections 831 and 834 of the Uniform Declaratory Jucgment Act i that the trustees of the trust created by Walte~H.Baker, designated by the number and term above shown,qivE notice to I all parties in interest to appear and present o~al argument for the determination as to the proper interpretation cf the phrase ."the then beneficiaries of the trust created by this indenture ilwho are sui juris",as that phrase appears in A=tic1e Three of ~~~WcL-o~::J-'.",)//~,,~",,' ','1£'~~~, }) :1 ,..,..~ ~, '1 ;',' "- l.1 ... ~ .:Q IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNA. ORPHANS"COURT I}IVISION No.63-70":"'"311 IN RE: WALTER H.BAKER TRUST ·.SHARE FOR M1Y ANNE "RITTERl" ~~!...""'-j ..,,~- -' :E ::0 c:n -»1"11 ::c t:::l r---~~,>rr1 I fl "~(I)::O rnz-i~":"..~r.-.;'11 ,...... ~~=rJ -<0S~0 (,,1)-0 .. ""--r'j --, c:J ......-:..::::::t:o .....:;:'-p;U t-u "'"'t)r---f :;".(.()c::> c..o FINAL ORDER Robert F.Patton,Esq. BUCHANAN,INGERSOLL,RODEWALD,KYLE &BUERGER 57th FLOOR -600 GRANT STREET PITTSBURGH,PA.15219 /~'2-TE.LEPHONE 1562-8800 l $90, -------------- - -.-----------.~ _J II IN THE COURT OF CO~MON PLEAS Of WASHINGTO~COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: WALTER H.BAKER TRUST SHARE FOR AMY ANNE RITTER No.63-70-311 FINAL ORDER .~ NOW,to-wit,this;l~day of ['ece:nber,1976,the Court having found that the trustees of the trust created by Walter H.Baker,designated by the number and term above shown, have given notice to all parties in interest to appear and pre- sent oral argument based upon the petition presented to this Cour by the trustees on November 23,1976,a CO?y of which was pro- vided to each party in interest,in accordance with the provi- sions of Sections 831 and 834 of the Uniform Declaratory Judgment Act,hereby interprets,orders and decrees that the phrase "the then beneficiaries of the trust created by this indenture who are sui juris"as it appears in Article Three of the subject trust indenture is a class limited to those persons who are currently entitled to the distribution of trust income. ~t ,,~ IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNA. ORPHANS'COURT DIVISION No.63"':70-311 ~!~ JJ ". IN RE: WALTER H.BAKER TRUST SHARE FOR WALTER WEIMER ~~..;..,. --.l 'C-:J _ ...o r"'!l l'• ,,-- i ~'O :::t= t~J C"-> c:::=' 1""'"t,~-' --;::::;r .-CJ ~"'j (.J' ::':':":;1 ..-,~,...__c..,-.'::=;;..<-..'-' 0_--F-IN'Jx-T-;':::;ORDER-0 r-c::::>~,.c-n t.O ~?O:t:>-rn -~<l'CD ~ -\---~::::(J)?J~:-l -<::''::'':r1 r"!~.. b',,, '.,..r~~"I), oil)"'.1< \ . ~ ',.; Robert F.Patton,Esq. BUCHANAN,INGERSOLL,RODEWALD,KYLE &BUERGER 57th FLOOR -600 GRANT STREET PITTSBURGH,PA.15219 Itt.:3 '-S96EPHONE e62-S600, ,. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE:) ) WALTER H.BAKER TRUST )No.63-70-311 ) SHARE FOR WALTER WEI.MER ) FINAL ORDER Mo"NOW,to-wit this);day of December,1976,the Court having found that the trustees of the trust created by Walter H. Baker,designated by the number and term above shown,have given notice to all parties in interest to appear and present oral argument based upon the petition presented to this Court by the trustees on November 23,1976,a copy of which was provided to each party in interest,in accordance with the provisions of Sections 831 and 834 of the Uniform Declaratory Judgment Act, hereby interprets,orders and decrees that the phrase "the then beneficiaries of the trust created by this indenture who are sui juris"as it appears in Article Three of the subject trust indenture is a class limited to those persons w~o are currently entitled to the distribution of trust income. I ,J t) I TRUST DEPARTMENT ", POST OFFICE BOX NO,B:37 PiTTSBURGH..PA.15230 December 29,1976 The Honorable Paul A.Simmons The Orphans'Court of Hashir.gton County Division of COIIlillOU Pleas Court Twenty-seventh Judicial District of Pennsylvania Washington,Pennsylvania 15301 In re:Walter H.Baker Trus't -Share of: Walter Weimer'. Pu-ny Anne Ritter .' De?r Judge Simmons: In accordance with your request at the hearing for the above Trusts on December '22,1976"I am 'enclosing affidavits of notice for eacr.Trust duly s.igned by this Bank'and notarized; "Very truly yours,~:~,h/.'·',d·..cI~"vl 0--$/~1. Gilbert L.a~' Assistant Trust J£fi:er II, !I I I I .GLH/c1k Enclosures fF50-l830-AO tF50-l830-BO ~.~ cJ-.~?)tJ -3/"7 '7 ()--;/!(Y ~..' '" tl--;a.<;',//~~j, W~JJ~ to' ~l •'I • J"_,.;;".." '. -----.:. ,~ " \, .'.:,' :'~.'...'-'.".!..'•0, !:~ i • .\.ii, 1I,~, .Zd~'t/~f1~r -/;J~~~--)?...o.to 3-.70 ....3 ;1 . T i II,, APPEARANCES:_ IN THE COURT OF COMMON PLEAS OF ·WASHINGTONCOUNTY, (Orphans'Court Division) -, r:.'..9;' :."=;.'...-..............-......-..: ~:;o)';Pi7i _ .u>c;-=?-~.~:z;;;.:~ -,.....~!.;:"~:~_i~':l- ,- No. .3/1 No.63 -70--'~-':;-'''/:::''i'-; ) ) ) ) )- ) JAMES W.UMMER,ESQ••of the firm Buchanan.Ingersoll.Rodewald,Kyle &Buerge~ 5th Floor U.S.Steel Building 600 Grant Street,Pittsburgh.Pa.15219 representing The-Union National Bank of Pittsburgh. Surviving Trustee. -TRANSCRIPT OF THE PROCEEDINGS AT THE-, _HEARING BEFORE THE HON0R;ABLE PAUL A._ SIMMONS.J ••ON WEDNESDAY.DECEMBER 22. 1976,AT 10:15 A~-M••IN COURTROOM #E.- In re: WALTER H.BAKER.TRUST SHARE FOR WALTER WEIlYfER In re: WALTER H.BAh~R TRUST SHARE FOR AMY ANNE RITTER <I: Z<I:>-_I>-Ul ZZwQ. i0~Cl Z J:Ul<I:~ ~ II:~ \Ul "-,a ;J-.«.U Ei :l.. %fo....N Ula:w ~a: -0Q.IIIII: ~II: :l0U -l<I: U II.. II.. ~,0 ,- ,, I I I I MARY JANE DREYER Official Court Reporter 0----. ...... • AND NO¥l..this"Z;'.:nd c'ay of. December,197'6,at 10:15 A.M.,the within matter carrie on for hearing,as scheduled,in open:court, before the 'Honorable Paul ·A.Sir:J.mons,l.· be a good idea if all the several counsel"would .e:J.ter their appear-. ance,and tellms whothej.represent. do with the trial,or the hearing,that's going to ensue• in the trust under the Will of Walter H.Baker,the share for 23rd,I presented at motions two petitior:s for declaratory.judgments c( zc(>oJ>f1)zZIIIQ. Zol-I'z· Xf1) c(~ ..=u a:I-f1) o oJ c(.,.u.o' :J...x~.r-N f1)a:IIII-a:oQ. IIIa: I-a::Jo U oJc( U II.II.o THE COuRT: MR.UMMER: THE COURT: MR.UMMER: ++"+.++ + + + 1 think,jus.t prelim~nari1y,it 'would Well,the first matter has nothing ,tb:' O.K.Very good.• Your Honor recalls back on November Walter Weimer,and also the share.for .Amy·,Anr:e Ritter,'and.that petition prays for the issuance of a declaratory :udgment interpreting the language of article three of the Will as it pertained to investment .restrictions,and you signed a prelimina::-y order on that day,direct- ing the trustees to gtve notice toaH parties in"interest.This matte .,-:r ••0."'.,,~.;:.: .,"..-" .:...."....~.;....~.1 .~r\l .__._t~~\ .'J ... would be present before yo:u ~his r:norni~g.and I am here to pre- sent a final order for your Honor to sign,interprcti.ng that language cons istently with pri<?r interpretations.the Court's made. o II."', '\I;.I I,, .)\ I-I.~.,; 3., THE COURT:All right,now,'d.o we have any < ~objection to this ?>.J>-III Z Z~(No.response.) zol-e>z~THE COURT:l'believe you ought to announce ·'this «~ maHer in the halls of the courthouse,.and also in'the courtroom,to to your proposed interpre.tation,·all right? see if anybody is responding to .this '.ootice and d,:)es have objeCtion represents Amy Anne Ritter,and also a--cotruste:!of and I understand that he has no objection to this.,,' " t-=u lI:I-III o .J< U o':J........ :t.~.."N IIIlI:llJl-ll:olLllJ lI: l-ll:':JoU .J< U lI.lI.o MR.UMMER: THE COURT: MR o 'UMMER: THE COURT: Your Honor,Evans :He-se,Jr.,who He's a substitute trust~e,if I recallo •That's correct,ye3.He is.present, All rfght·Let's announce the matter of Walter H.Baker Trust,share for Walter Weimer;also Walter H. Baker Trust,share for Amy Anne Ritter;in the halls of the court- house,and see if .we have any response o ,, ".~~.,.-":,:,:"....: .•-_.J:... "..... ~. ;' •"'.1".'. .t ..'., ..:-~.~.-._..., ...', _.-.-~"~.~.'-=-.•~---. ... (Mr.Zermani,.Court Crier,'mak~E!this·announcement.) .. THE COURT: announcement? <c.·COUHT.CRIER: z<C>.J . >III~THE COURT: '"Q. Mr.Zermani,'did you make the IIYourHonor,I received·no response.I Now,do we ru;,ve anyb:xiy here·in ·the .\ z.O' ~Clz :x:III<c3 ..:~. II:~III o .' J.<C U o.':>.... %....r-III Courtroom who has an interest in the Walter H.·Baker Trust Share for Amy Anne Ritter,who has .any objection to fr:.e .fhal order in regard to the interpretation.of artiCle three"of 'the Will,'which ".,'.- id~ntifie~.the phrase,."the·th~n beneficiaries of the.trust created ·by . this .'indentu~e.who'are sui ju'~iso ':.'Do we have·cu'1yhociy in th'ecourt- .room who objects to any possible interpretation of that .language ? . 'ORDER: enter'the final Order;.,as follows: III.~...II:oIIllJ II: ~II::>. ou J<c u l&.l&.o THE COUHT: (No response~) Hearing no objecti-::>n,the Court will i· I NOW,to-wit,this 2200 day of December,1976·,Ihe Courl having found Ihal Ihe truslees of Ihe Irus, _created.by Walter H.Baker,designated by the number and term above shown,have given notice to all parties in i:lterest to appear .~ .."":'.,."......-.', ...,.....'....... I I ,. ;" .'/'. :, .''..~ :" .,. ....:,-.. '. .~.. .<, z«,>oJ'>-enzz\lJ0. Z'oI'-ClZ 1:~,<~ .. and present oral argument based,upon the,petition presented to this .'' Court by the trustees on November.23,1976.•a ~opy of which was.,. provided to each party in interest,'in accordance with the'provisions...'. of Sections 831 and 834 of the'Un~form Dedaratory Judgme nt Act, ·0' ,""hereby interprets,orders and decrees that the phrase the then ..' beneficiaries of the trust created by this indenture w~-1O are sui jurisI,... as it app.ears in.Article 'Three of the subject,trust ind,enture 'is a class-limited to'those persons'who are,currently;ent.itled t.o the distribution of trust income. '1"\1 I .'!J I itI B.• .these people;do you have that? present your Affidavit of 'Service,.as indicated ,k thE'notice,.to .all, MR o UMMER:I can,yes. THE COURT:Well,on your re?resentation that notice was,in fact,given,we will go ahead and sign it. MR.UMMER:It was.The not:.ce consisted of a copy of the petition and a copy of the prelimina:-y order and a letter ~, .-:u'a:I-enCi ' . oJ • ~u ",:.·'0 :J... .];I-,r- N ena:\lJI-a:o0.\lJa: I-a:, :JoU oJ« u L&.L&.o ,' T~R COUHT: M~.o UMMER: THE COURT: .-..'..:,;:. ...... '.'Now,.at this Jime.would you please I don't have that "Nith me,.your Honor Are you able to provide me with that? ". " :..i ,{ ,. ,"'.; ."s."_~...~'....• " ," ... from Union National Bank,one of .the cotru5tees',explaining what wa being done here. .. THE COURT:.Was that done by certi:.ied mail?Rov was it done;is there 'anybody here who can tell '.ls? < z.<>.~MR.UMMER:lI)zZllJ0... t'THE COURT:l-e>z ~of mailing'this notice? <~ .'First class mail,'y.Qur·Honor. Well,would you'give us an affidavit know,showi'n'g that these people,in fact',did get noL.ce of this. the cotrustees of the surviving (inaudible). .and the present encumbent beneficiaries were notified,as well as \.. ...:u a:l-ll)o : . ..J",< .'''.,'u"0.::>., 'J:I-'r-'N lI)a:llJI-a:oa..llJa: It::>ou ..J< .!:!II..II..o MR.ECHEMENT: THE COURT: MR.ECHEMENT: THE COURT: It's important f6r'the record,you W'ell,'all the residual remaindermen All right,and,just for the record, would .you state your name,please. MR.ECHEMENT:John R.Echemen~,l'm Senior Vice :i President of Union National Bank. THE COURT:.Very good.In other words,we will ,. ...~\.~.....:.(~ ;..~~ ';''t~ '/i.: ,:'," ,.;.,~..;..'...~ .... I' "•••..;~~l'•.'•;",.:r-......,,'.'.". .. .. ,I .it Ii ~.::~,7. i',.'====*===::::::o;;======================t==!.;;;::: !' i", !... I " I'"4 expect,just so the record will show this,that you will file with us an affidavit indicating that you properly mailed ndtice of this matter to all Interested parties,is that right? MR.ECHEMENT:Yes,your Hon.or o \ sign the Final Order,with the understanding ..that this wHl be su~pli- ~ed in due course. All righto You'll:Io that,and we'll ..:..-~. ,"YesoMR.ECHEMENT THE 'COURT: ~.z<'>.J>-11lZ ZWn. zol-e>z I:11l<~ In re:Walter H.Baker Trust,Share for Walter Weimer,and,Mr o would apply to,the next case before the Court,which~has to do with \\ "'' ~,o ,~ 11l a .J<o~:.0 .~:J.:-. ~~ r-N THE COURT:All right.Well,now~this also right,to all interested parties? Echem~nt,you likewise did make the proper notice,there,is thatlit0:,W I- 0:on.w 0:, I-,,0: :Ioo .J<o Il. Il.o MR.ECHEMENT: THE COURT: That's correct,your Honor • And you will supply an affidavit to ,that effect,in due course? MR.ECHEMENT:Yes.your Honor~ THE COURT:Mr.Zermani.did you announce both .'estates? '.",'. ,. ,:";!-.~~~:t1 'l,,,._._j)-r;7~~' ?~i~ ;~'!.'~ .,..':"":" ;(.~J"[~~f ~~~:i ':.. '.'•~.....t'-~"",...," ..,t', ........,.' "~~.'.. ." " ":." iI /f ... 8• .. MR.ZERMANI:i:{Court ,Crier)1.did,your Honor. THE COURT: courtroom who might be Now,do we'have anybody in the I interested in the matter of the interpretati09 Weimer?', trustees on November 23,1976,a copy of which was provided to " (No response.) have given notice to'all parties~ininterest to appear and present oral " 22nd day of DecemL~- Hearing no 'response~·theCou:rt will .01 ! NOW"to-1Nit,this .ORDER of article three of this will,as it pertains to the share for Walter THE CODRT: make the follbwihg Order. 1976,the Court having found that the trustees of the trust created by Walter H.Baker,designated by the number and term above shown, argument based upon the petition.presented to,th:..s Court by'the < z«>.J>UlZZIII'Q. ZoI-elZ, J: Ul«3 Ul 0: IIIl-I!:oQ.III I!: I-0::lo U .J« u Il. Il.o ...=u I!:I-Ul a .J« u•0, :l'.., :tI-r-,N \ each party in interest.in accordance with'the provisions of Sections 831 and 834 of the Uniform beClaratory Judgment Ad,hereby ,.. interprets,orders and decrees that the phraseue.the then beneficiaries- of the trust created by this indenture who are sui juris"as it appear ~ in Article,Three of the subjeGt trust indenture -is a class limited to .'.~."... ;:...~.~.' .'.-...-.~ " ~. ...,'to • -. .............:.~. .. F---"-.....-.....-_._=_..=_.._~-~~-....:(+-;.Qh.o~~-a.r-~e~c..uu+r+=r~e.uQt~Iedc_~t~uuOO-Qf_~~<-leeme ~~ ~j &~lI;! I 1 J ".':.. ,. THE COURT:I Now,when 'can I 'expect these affi- 'r-l J \. 9. dav~ts of mailing,if you will,as to this notice;withi:l the next day or so? , " < z<.>-I'>VIZ. Z Ulll. Z··o.... ClZ J: VI<..~ MR o ECHEMENT: THE COURT: .it.Now,.we.'ll sign these. MR ..·ECHEMENT: YeS,your Honoe. Ali right,if YQu p:~~s€.I'd apprecia 'e po you have a copy of hese? "~'..' Yes,I do.. THE COURT: MR.'ECHEMENT: .,:.·u .a:...lI) ~~'.Court Reporter. <. u ·0.:::>., ·xl-I'>·N .Will you please giv:e a copy .to our ,"..'. . Yes"your Honor. our minute clerk,who will make the proper entrieso lI)a:Ul·...a:o'Q. Ula:...a::::>ou -I< U "-"-o ., THE COURT: MR.ECHEMENT: .THE COURT: Now,w~'re going to give these to Fine.Thank you,.your Honor. Then you can file them d own stairs later.All righto Now,the next order of business. MR.UMMER:That's it.Thank you,your Honor. .' . (COURT ADJOURNED IN THIS MATTER AT 10:30 A.M.,ON WEDNESDAY~DECEMBER 22,1976. ..t·;'f....,~. ~'.~~.,>,'C~,t.',."1',:<t ,~ "~.. .. l ....... . I •f·of.";.' lr.,.' ',1.lt•. 6-, + \ +++ ., :I +.'++-+ \ f _ •~'••I''~~ .~. I r~,.. ,'p • "-'... Certifications 10.;":';:::',=====1f=====--=--=================:;:==F==:::::.,.". ~,'i'~ ~, IN'THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PA. (OrphansI Court Division) • CERTIFICA TIONS : .t,. 0( z 0(>J~UlZZ a.l0. ZoI- l'Z J: V)0(~ In re:, WA LTER H.BAKER TRUST SHARE FOR AMY ANNE RITTER In re.: WALTER H.BAKER TRUST SHARE FOR WALTER WEIMER ) ) ) No.63 70 -311 Noo 63.-70 -311 I'".''. ~., "h ..~~:1' I .J.:f~...• ".~.' ...=u a:l-V) o ..J 0( U'0 ~".:l .., .:1:l-I'N V)a:a.ll-e:o0.a.la: ,I-a::>ou ..J0( U lI.lI.o ,-, I hereby certify that,the :proceedings are centained furly and accurately ~n the notes taken by Ir?-e at the hearing i~the above cause, and that this copy is a correct transcript of the sam~~, The foregoing record of proceedings at the hearing in the above cause is her.eby'approved and directed to be filed • By,the Court,', ,,~~,'",~~Ardn~,r~.J. P'aul A.Simm:ms,J. .- " ,~_.,:~~ ~~.-' •.1""."jf•.'., .... .~... '{.I~. '........I.Ii "h-. ~l:,~t.. • ., ~, ./...-, ~,.. ..: I .~,'.0 CJ I,,\ \ •,II.I"., ,/.-.---.-/ .~1VINTHE/COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA " WALTER H.BAKER TRUST rt1L./2'1 .~.23C--:<t.j-C:J ~?~c/L/7'FY ORPHANS'COURT DIVISION NO.63-70-311 FIRST AND FINAL ~COUNT OF EVANS ROSE,JR. SUCCESSOR INDIVIDUAL TRUSTEE AND THE U~ION NATIONAL BANK OF PITTSBURGH,SURVI~ING TRUSTEE,TRUST FO~ ANNE BAKER WEIMER.SHARE OF AMY ANNE W.LE'IIN "CODETRUST--:":U:-'::N':""D=ER=--':""IN---D=-E=-N---':'=-U---R--E=---- FILED ON BEHALF OF WALTER H.BAKER TRUST COUNSEL OF RECORD JAMES W.UMMER,ESQUIRE PA.I.D.#16428 BUCHANAN INGERSOLL PROFESSIONAL CORPORATION FIRM #038 UNITED STATES STEEL BJILDING 57TH FLOOR 600 GRANT STREET PITTSBURGH,PENNSYLVANIA 15219 (412)562-8923 (412)562-8800 II j """') ~'\\ ~i'. ~J\.q I"\. ~ " ~~i7~~~ ,.;,!··t 7~~.• I do &ff.'fiih tH,lkt 1 fUWf:giYIm l:,gal 'l'Ctice fa aU ~'SGn$ €fHi€tmeti of thg filtfi,f%{)l tlw u.Jithin tU:co:inHnt.!:e manner~r¢. ser!ygti h ~UUU~~;;d l~l:l:OJ Cmm,£I:;l:.Jidcmcm by /:Wao/$ dler@§t Nl@€!ttJ Nu,h'..3 -9'!-Cl r..f G ~ ....co -(- ~::y} ::=.-~>-I •-~1 -:.;);n C".-=:;..:);,..-;.~:..0 #!f':l--\f',l .~en :.'1~,-1":1 ----1,,-'--~~1 ~''''';-rTf,.::;..()-0 ;:T.l"."1'-"\1 =m....... (")::::I::'-""c)--r- ..':i~r-......' .~;...,"<.n ..;. -~_.c •_~.,-.,..__•••• ~-c-","""...-."~'.j,,",'·OS .~~~:."¥;P3Ai$15'- COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF ALLEGHENY GILBERT L.HAAG,Vice President of THE UNION NATIONAL BANK OF PITTSBURGH,the above named accountant being duly sworn according Itolawdeposesandsaysthattheqisbursements shown in the account have been made to the parties entitled thereto and that the account as stated is true and correct as he verily believes. 1984. Notq!rfy Public NANCY l.HIR$.W NOTARY PUBLIC PITTSBURGH,ALLEGHENY COUNTY MY COMMISSION EXPIRES.JUNE 30.198& Member:Pennsylvania Association of NotariesDISTRIBUTIONREQUESTFOR Sworn and subscribed before me ~hiS c151hday of l4/F-""'- Accountant requests that distribution be determined by the Court in accordance with the Petition for Distribution to be offered in evidence at the audit of this account. THE UNION NATIONAL BANK OF PITTSBURGH BY ~ciJt!f~=en:':-t---- ,;/ IN THE COURT OF COMMON PLEAS OF WASHINGTON COUN~Y,PENNSYLVANIA ORPHANS'COURT DIVISION NO.63-70-311 WALTER H.BAKER TRUST FIRST AND FINAL ACCOUNT OF EVANS ROSE,JR.,SUCCESSOR INDIVIDUAL TRUSTEE AND THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE UNDER THIS INDENTU~E DATED AUGUST 251936, TRUST FOR ANNE BAKER WEIMER SHARE OF AMY ANNE W.LEVIN ACCOUNT STATED FROM JUNE 25,1976 TO APRIL 3,1984 , SU~IMARY AND INDEX Pages PRINCIPAL -PERSONALTY Receipts 3 $90,125 59 ~ No Gain or Loss on Surrender 4 0 00 Net Gain on Conversions 5-6 18,969 12 V'" Sub-Total $109,094 71 Less Disbursements 6-7 5,86)49 / Investments 7 Capital Changes 7-9 Principal Balance Remaining $103,234 22 /' INCOME -PERSONALTY R~ceipts 9 $0 00 Less Disbursements 9 0 00 IIncomeBalanceRemaining,--.0 00 COMBINED BALANCE REMAINING $103",234 22 I I i J WALTER H.BAKER TRUST COMPOSITION OF NET BALANCES PRINCIPAL -PERSONALTY Stocks Mean Market Value as of 4/2/84 Account Value 83 shares American Information Technologies Corporation,Common 833 shares American Tel,ephone and Telegraph Company,Common 83 shares Bell Atlantic Corporation, Common , 83 shares Bell South Corporation,Common 5,000 shares Cyclops Corporation,Common 375 shares E.I.duPont deNemours and Company,Common 334 shares General Electric Company, Common 86 shares International Business Machines Corporation,Capital 83 shares·NYNEX Corporation,Common 83 shares Pacific Telesis Group,Common 83 shares Southwestern Bell Corporation, Common 1,144 shares Texaco,Incorporated, Comm6n 83 shares United States West, Incorporated,Common $5,420 94 $2,492 98 13,067 69 6,899 12 5,784 06 2,530 18 -;,589 31 3,264 38 175,625 00 28,403 29 18,257 81 50 18,203 00 3,830 52 9,589 00 6,155 02 , 4,354 06 2,374 2'2 4,746 56 2,141 48 4,;25 81 2,289 05 I I 45,402 50 3,985 86 , 4,767 31 2,157 06 Bonds $40,000 Norristown Pennsylvania Area School District 6.70%dated 3/1/80 due '3/1/90 36,36J 00 40,000 00 Temporary Investment 00 66 " 300 00 ·300 $300 Federated Trust for Short-Term United States Government Securities (Treat as Cash) $354,793 05 $106,823 Less Amount due Accountant for ~o Administrative Expenses ~-.:.------3,589 44 ~:'7'k 3,589 44 TOTAL PRINCIPAL $351,203 61 t I,..$103,.234 22 v -2- WALTER H.BAKER TRUST PRINCIPAL -PERSONALTY RECEIPTS Prior Award William G..Stewart,Successor Indi~idual Trustee and The Union National Bank of Pittsburgh,Surviving Trustee under Indenture dated August 25,1936 of Walter H.Baker,Trust for Anne Baker Weimer Awarded by Adjudication and Decree dated June 25,1976 at No.63-70-311 in the Court of Common Pleas of Washington County,Pennsylvania, Orphans'Court Division fpr further administration Stocks 680 share.s American Telephone and Telegraph Company,Common 145 shares American Telephone and Telegraph Company,$4.00 Convertible Preferred 4,244 shares Cyclops Corporation, Common 125 shares E.I.duPont deNemours and Company,Common 167 shares General Electric Company,Common 170 shares General Motors Corporation,Common 1,144 shares Texaco,Incorporated, Common Temporary Investment $9,500 The Union National Bank of Pittsburgh Master Savings Account Cash Less subject to paymept of share of Guardian Ad Litem fee TOTAL PRINCIPAL RECEIPTS -3- $15,650 48 8.536 34 36,163 08 50 3,830 52 12,:39 37 3,985 86 '.,..",I , WALTER H.BAKER TRUST SURRENDER FOR EXCHANGE Gain Loss----5/26/77 Surrendered I 145 shares American TelephoneIandTelegraphCompany,$4.00I Convertible Preferred Decreed at $8,536.34 Received in lieu of above 152.630 shares American Telephone and Telegraph Company,Common 8,536.34 -- 2/15/84 .Surrendered 833 shares American , Telephone and Telegraph , Company,Common I Carrying value $24,210.82 , Received in lieu of above 833 shares American Telephone and Telegraph I Company,Common $6,899.12 I83.30 shares American I Information Technologies Corporation,Common 2",50"'1'.99 83.30 shares Bell I Atlantic Corporation, Common 2,539.33 !83.30 shares Bell South Corporation, Common 3,276.18 : 83.30 shares NYNEX Corporation,Common 2,382.80 I 83.30 shares Pacific , Telesis Group,Common 2,149.22 83.30 shares Southwestern Bell Corporation, Common 2,297.32 83.30 shares United States West, "VIncorporated,Common 2,164.86 24,210.82 -- No Gain.or Loss Transferred to Summary Page -- : -4- WALTER H BAKER TRUST· I I PRINCIPAL CONVERSIONS INTO CASH Gain Loss 1/2/80 715 shares Cyclops ---- .Corporation,Common Net proceeds $15,254.30,Carrying value 4,061.68 $11,192 62 l.--- 1/2/80 170 shares General Motors Corporation,Common Decreed at $12,539.37 Net proceeds 8,352.45 -$4,186 92 1/9/80 651 shares Cyclops Corporation,Common Net proceeds $15,584.91 VCarryingval.ue 3,698.11 1::',886 80 - $9,500 The Union National Bank of Pittsburgh Master Savings Account Withdrawn 7/20/76 - 2/14/79 $9,500.00 Decreed at 9,500.00 -- $47,800 Federated Trust for Short-Term United States Government Securities Redeemed 2/5/80 -1/13/81 $47,800.00 Carrying value 47,800.00 -- 3/12/84 .30 share American Information Technologies Corporation, Common Proceeds $19.86 1/ Carrying value 9.01 10 85 - 3/12/84 .30 share Bell Atlantic I Corporation,Common Proceeds $21.09 VCarryingvalue9.15 11 '94 - 3/12/84 .30 share Bell South Corporatio·n,Common Proceeds $28.02 Carrying value 11.80 16 22 - 3/12/84 .30 share NYNEX Corporation,Common Proceeds $18.34 VCarryingvalue8.58 9 76 - 3/12/84 .30 share Pacific Telesis Group,Cominon Proceeds $16.51 Carrying value 7.74 8 77 - -5- WALTER H.BAKER TRUST PRINCIPAL CONVERSIONS INTO CASH (continued)Gain Loss 3/12/84 .30 share Southwestern Bell Corporation,Common Proceeds Carrying value $17.63 8.27 $9 36 3/12/84 .30 share United States West,Incorporated,Common Proceeds $ Carrying value TOTALS Net Gain Transferred to Summary Page PRINCIPAL -PERSONALTY DISBURSEMENTS 17.52 ..,/7.80 9 72 - V $23,156 04 $4,186 92 -$18·,,969 12 L 1/10/77 Register of Wills and Clerk of Orphans' Court,Wash~ngton County,Pennsylvania Cost of Order'of Court $3 50 2/15/77 Buchanan,Ingersoll,Rodewald,'Kyle and Buerger Professional services re preparation and presentation of Petition for Declaratory Judgment and appearance before Washington County Disbursements and filing fees for : Petition $300 00 18 65 318 65 10/7/77 Mary Jane Dreyer 1/2 share'cost of copy of transcript of the proceedings at the hearing on December 22,1976 1/14/81 Pennsylvania Department of Revenue Pennsylvania Fiduciary Income Tax for the fiscal year ended 9/30/80 2 50 71 43 1/14/81 4/3/84 Internal Revenue Service Federal Fiduciary Income Tax for ,the fiscal 'year ended 9/30/80 Clerk of Orphans'Court of Washington County,Pennsylvania Cost of filing this account -6- 1,714 41 I 150 00 I I I I I I WALTER H.BAKER TRUST DISBURSEMENTS (continued) 4/3/84 4/3/84 Buchanan Ingersoll Professional Corporation Attorneys'fee The Union National Bank of Pittsburgh Accountant's compensation __------- TOTAL PRINCIPAL DISBURSEMENTS PRINCIPAL INVESTMENTS $1,800 00 1,800 001 $5,860 49 C--- 5/26/77 .370 share American Telephone and Telegraph Company,Common $24 00 1/29/80 86 shares International Business Machines Corporation,Capital at 71 6,155 02 1/31/80 $40,000 Norristown Pennsylvania Area School District Bonds 6.70%dated 3/1/80 due 3/1/90 at 100 40,000 00 2/14/79 1/10/80 1/17/80 Federated Trust for Short-Term United States Government Securities $9,000 23,600 15,500 48,100 00 $94,279 02 Cash disbursed to purchase the above assets~__~9~4~,~2~7~9~0~2~ PRINCIPAL CAPITAL CHANGES $0 00 American Telephone and Telegraph Company, $4.00 Convertible Preferred 145 shares Decreed at 5/26/77 145 shares Surrendered 2/15/84 3/12/84 American Information Technologies Corporation,Common 83.30 shares Received in Surrender .30 share Sold 83.00 shares $2,501 99 9 01 $2,492 98L..-,I I $8,536 34 I I 8,536 34 I I -7- WALTER H.BAKER TRUST· PRINCIPAL CAPITAL CHANGES (continued) American Telephone and Telegraph Company, Common 680.000 shares Decreed at 5/26/77 152.630 shares Received in Surrender 832.630 shares 5/26/77 .370 shares Purchased 833.000 shares 2/15/84 833.000 shares Surrendered 0.000 shares ·2/15/84 833.000 shares Received in Surrender 833.000 shares .1 $15,650 48' 8,536 34 $24,186 82 24 00 $24,210 82 24,210 82 v $0 00 6,899 12 $6,899 12 2/15/84 3/12/84· Bell Atlantic Corporation,Common 83.30 shares Received in Surrender .30·share Sold 83.00 shares $ $ 2,539 33 9 15 i/ 2,530 18 L.- 2/15/84 3/12/84 2/1/79 1/2/80 1/9/80 Bell South Corporation,Common 83.30 shares Received in Surrender .30 share Sold 83.00 shares Cyclops Corporation,Common 4,244 shares Decreed at 2,122 shares Received in a 3 for 2 Stock Split as holder .of record on 12/18/79 6,366 shares 715 shares Sold 5,651 shares 651 shares Sold 5,000 shares $3,276 18 11 80 $3,264 38....,. $36,163 08 o 00 $36,163 08 4,061 68 $32,101 40 3,698 11 $28,403 29 t/ 7/17/79 E.I.duPont 125 shares 250 shares 375 shares deNemours and Company,Common Decreed at Received in a 3 for 1 Stock Split as holder. of record on 5/30/79 $ $ 50 o 00 50 6/16/83 1/2/80 General Electric Company,Common 167 shares Decreed at 167 shares Received in a 2 for 1 Stock Split as holder of record on 4/28/83 334 shares General Motors Corporation,Common 170 sh~r-es Decreed at 170 shares Sold -8- $3,830 52 o 00 $3,830 52 $12,539 37 12,539 37 WALTER H.BAKER TRUST PRINCIPAL CAPITAL CHANGES i (continued) NYNEX Corporation,Cornmon ~. 2/15/84 83.30 shares Received in Surrender $2,382 80 3/12/84 .30 share Sold 8 58. 83.00 shares $2,374 22 v- I Pacific Telesis Group,Cornmon I 2/15/84 83.30 shares Received in Surrender $2,149 22 3/12/84 .30 share Sold 7 74 83.00 shares $2,141 48 , ISouthwesternBellCorporation,Cornman 2/15/84 83.30 shares Received in Surrender $2,297 32 ,3/12/84 .30 share Sold 8 27 I 83.00 s'hares $2,289 05 t.-- I United States West,Incorporated,Cornmon 2/15/84 83.30 shares Received in Surrender $2,164 86 I 3/12/84 .30 share Sold 7 80-I ---I 83.00 shares $2,157 06 L// I I The Union National Bank of PittsburghI Master Savings Acco~r $9,500 Decreed at $.9,500 00 9,500 Withdrawn 7/20/76 -2/14/79 9,500 00 Federated Trust for Short-Term United States Government Securities $48,100 Purchased 2/14/79 -1/17/80 $48,100 00 47,800 Redeemed 2/5/80 -1/13/81 47,800 00 $300 $300 00 ... INCOME -PERSONALTY $38.66 being amount awarded by Adjudication and Decree dated June 25,1976 at No.63- 70-311 and all Income received and I Disbursements made to April 4,1984 (date of last Annual Statement)have been accounted for by Annual Statements rendered Mrs.Amy Anne R.Levin and Evans Rose,Jr. RECEIPTS Balance in accordance with last Annual Statement dated April 4,1984 .INCOME -PERSONALTY DISBURSEMENTS . None -9- $ $ o 00 o 00 COMMONWEALTH OF PENNSYLVANIA COUNTY OF ALLEGHENY 55: EVANS ROSE,JR.,one of the above named accountants being duly sworn according to law deposes and says that the disbursements shown in the account have been made to the parties entitled thereto and that the account as stated is true and correct as he verily believes. Evans Roser Jr. Sworn and subscribed before me this day of ,1984. Notary Public REQUEST FOR DISTRIBUTION Accountant requests that distribution be determined by the Court in accordance with the Petition for Distribution to be offered in evidence at the audit of this account. Evans Rose,Jr. 7 J' IN THE COURT"OF CO}illON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION RE:.Trust under Indenture No.63-70-3U of WALTER H.BAKER RE:Trust under Will of No.63-70-317 WALTER H.BAKER RE:Trust under Indenture No.63-73-1032 of ANNE A.DUNCAN o R D E R audit will be called on Friday,June 22,1984,but IT IS FURTHER'J of the individual trustee in the above-captioned 'Frusts,the AND NOW,this 3/day of May,1984,up?n request /..,,-,I i1 I. ORDERED that it will be continued and heard by the Court on Friday,June 29,1984 at 1:15 o'clock p.m.,in Courtroom No.4, Courthouse,Washington,Pennsylvania. Thomas J.~rputac, :j c::)c:::'l .~..~"'if: ..J I~L ...) ,,- Q).u;;~l.;;;J~_. ('!'i (!!1l .UJec IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA j IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ORPHANS'COURT DIVISION NO.63-70-311 RESIGNATION OF TRUSTEE CODE TRUSTEE RESIGNATION OF FILED ON BEHALF OF: EVANS ROSE,JR. COUNSEL OF RECORD FOR THIS PARTY: ROSE,SCHMIDT,DIXON & HASLEY FIRM #043 900 OLIVER BUILDING PITTSBURGH,PENNSYLVANIA 15222-5369 (412)434-8600 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PE~NSJLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 RESIGNATION OF TRUSTEE TO THE HONORABLE,THE JUDGES OF SAID COURT: WHEREAS,Evans Rose,Jr.is the successor Individual Trustee of the Trust for the benefit of Amy Anne Weimer Levin created under ARTICLE ONE of the Trust Indenture of Walter H. Baker,dated August 25,1936 ("Trust"),haVing been appointed to such position by the said Amy Anne Weimer Levin;and WHEREAS,since the confirmation of said appointment by this Honorable Court,dated May 5,1976,Evans Rose,Cr.has served with The Union National Bank of Pittsburgh as Co-Trustee of the aforementioned Trust;and WHEREAS,The Union National Bank of Pittsburgh has indicated its intention to resign as Corporate Trustee of the Trust,such resignation'to be effective upon co~firmation of its First and Final Account by this Honorab~e Court;and t' -... WHEREAS,as a result of the resignation of The Union National Bank of Pittsburgh,Any Anne Weimer Levin has designated Northern.Trust Bank of Florida as successo~Corporate Trustee of the Trust and has also requested this Honorable Court to transfer the situs of the Trust to the State of Fiorida:and WHEREAS,Evans Rose,Jr.believes that,should the situs of the Trust be transferred to the State of Florida,the interests of the beneficiaries of the Trust will be better serv~d from the standpoint of administ~ative ease and convenience by an Individual Trustee who is also a resident of such jurisdiction: NOW,THEREFORE,Evans Rose,Jr.hereby resigns from his position as Individual Trustee of the Trust created for the benefit of Amy Anne Weimer Levin under ARTICLE ONE of the Trust Indenture of Walter H.Baker,dated August 25,1936.This resignation shall be effective upon confirmation by this Honorable Court of the First and Final Account of Evans Rose, Jr.and The Union National Bank of Pittsburgh,and after transfer of the situs of such Trust to the State of Florida. IN WITNESS WHEREOF,Evans Rose,Jr.has hereunto set his hand and seal this 9th day of November,1984. ~A~ Evans Rose,Jr.,Trustee -2- (SEAL) ",l IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PE~NSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER WILL OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 ORDER OF COURT AND NOW,to-wit,this day of A ~)'1 ,f L.,J9'T ~ ~',the foregoing Resignation of Trustee,executed by Evans Rose,Jr.,is hereby accepted,and upon confirmation of the First and Final Account filed herein by Evans Rose,Jr.and The Union National Bank of Pittsburgh,and after transfer of the situs of the above referenced Trust to the State of FLorida,the said Evans Rose,Jr.shall be relieved of all rights,powers and liabilities with respect to such Trust. /~-I ..coc..n ~-;Ai :x:-.....:.:m -0 ::z:r~'"G?:::0 p,(I)-- c:::. ~ ::::U>.--.;r"-l (Il -,~., ~t_rn -l c>:::a rrI ~ -.-! \:J':::t:r00 ::::;;:-rr1'~...-"""I"l 01 ~ c>~VJ0-rr-r".,)V (;'')c.o::> \3- '-...S> :i ~ .~ "," ''0' r"!'.:;~ ~!;'.~ i •..- "- ......t (....., ..~l t,I ~.""'\~ -......:=:-j "-Sl ~ ....'i""r ~-'.... ';-1 ;J ~......J • ~ .:n i ~ .;;'t "I ~ :;::,-"I (, ~ (,~ --~, ._~ .~ i ~i f"::..::::.:r :-~ .,.- ~ I"' .i~' 7~~r-'c..""'0 .,J.;w ~,J •" .,:." 0'") .' .) J 0 ., "1]0)IC-c> j" o k .0£t.j S&,&3 j IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENKSYLVANIA IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ORPHANS'COURT DIVISION NO.63-70-311 PETITION FOR C3ANGE OF SITUS CODE PETI~ION FOR CHANGE OF SITUE FILED ON BEHALF OF: AMY ANNE WEIM3R LEVIN COUNSEL OF RECORD FOR THIS PARTY: RICHARD DiSALLE,ESQ. PA.1.0.#05444 ROSE,SCHMIDT,D:XON & HASLEY FIRM #043 900 OLIVER BUILDING PITTSBURGH,PENNS~LVhNIA 15222-5369 (412).434-8600 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 PETITION FOR CHANGE OF SITUS OF A TRUST PURSUANT TO SECTION 725 OF THE PENNSYLVANIA PROBATE, ESTATES AND FIDUCIARIES CODE (20 Pa.C.S.A.§725) TO THE HONORABLE,THE JUDGES OF SAID COURT: The Petition of Amy Anne Weimer Levin,by her attorneys,Richard DiSalle and Rose,Schmidt,Dixon &Hasley, respectfully represents that: (1)Your Petitioner,Amy Anne Weimer Levin,is an individual currently residing at 3537 Royal Palm Avenue,Coconut Grove,Florida 33133,and is the present income beneficia~y of a Trust created for her benefit under ARTICLE ONE of the Trust Indenture of Walter H.Baker,dated August 25,1936,("Trust"). (2)The pertinent provisions of the aforementioned Trust Indenture are as follows: Upon the death of Anne Baker Weimer aforesaid,the Fund shall be equally divided into as many parts as there are children of Anne Baker Weimer surviving her,and a separate trust with respect to each part shall be continued for each of said surviving children of Anne Baker Weimer.From the net income arising from each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid an equal proportionate part of the life insurance premiums on the policy or policies on the life of David P.Weimer,Jr.,as aforesaid, and the remainder of the net income from each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid to each child respectively of Anne Baker Weimer,the beneficiary of said respective trusts,not less frequently than . quarter-yearly for and during the period of his or her life.Upon the death of each of said children of Anne Baker Weimer, respectively,the trust as to such child shall terminate and the Trustees shall thereupon pay over and deliver to the issue of said child,in equal parts,the property then constituting said trust estate for his or her benefit,together with all accumulated or accrued income thereon,free from all trusts,absolutely and in fee simple. (3)In addition to your Petitioner the issue of your Petitioner also have a potential interest in the Trust.At the present time,the issue of your Petitioner consist of her following children: David Michael Ritter Route 2 Box 101 Newberry,Florida 32669 William Jeffrey Ritter 6907 Moore Street Stuart,Florida 33490 Susan Duncan Ritter 6907 Moore Street Stuart,'Flor ida 33490 -2- Andrew Duncan Ritter Route 2 Box 101 Newberry,Florida 32669 Christopher Burns Ritter 72 Woodvale Road Glenrock,New Jersey 07452 Anne Elizabeth Ritter 7026 South Claiborne Avenue Apartment D New Orleans,Louisiana 70118 Jonathan Baker Ritter 940 West Brevard Street Apartment C.3-4 Tallahassee,Florida 32313 All of the aforementioned individuals are sui juris.In the event your Petitioner should die without leaving issue to survive her,the Trust Indenture provides that your Petitioner's sisters and brothers or the next of kin of Anne Bake~Weimer are entitled to the principal of the Trust. (4)At the present time the corpus of the ~rust consists entirely of securities and cash having a market value of approximately $350,000.00.These assets are more particularly set forth in the First and Final Account filed herein by The Union National Bank of Pittsburgh. (5)The present Trustees of the Trust are Evans Rose, Jr.and The Union National Bank of Pittsburgh.However,The Union National Bank of Pittsburgh has advised your Pe'titioner that it now intends to resign its position as corpora~e Trustee of the Trust.In view of this resignation,your Petitioner, pursuant to the authority vested in her by ARTICLE TEN of the Trust Indenture,has nominated Northern Trust Bank of Flo~ida as -3- corporate Trustee of·the Trust.Once Northern Trust Bank of Florida assumes the position of corporate Trustee,the entire principal of the Trust will be placed in its possession in Florida. (6)As indicated heretofore,your Petitioner is a resident and domiciliary of the State of Florida,and none of her children currently resides in Pennsylvania. (7)Since your Petitioner and her issue do not reside in the Commonwealth of Pennsylvania,and considering the fact that the entire principal of the Trust.will be transferred to Florida by the newly designated corporate Trustee,your Petitioner believes that a transfer of the situs of the Trust to Florida is advisable.Such a change in the situs of the Trust is desirable from the standpoint of administrative :ase and convenience since it will enable the beneficiaries of the Trust to monitor the actions of the corporate Trustee,and to redress the same,if necessary,in a convenient forum. (8)Attached hereto and made a part hereoE are the consents of Evans Rose,Jr.and the Northern Trust 3ank of Florida to the proposed change in the situs of the Trust. WHEREFORE,your Petitioner,Amy Anne Weimer Levin, pursuant to Section 725 of the Pennsylvania Probate.Estates and Fiduciaries Code (20 Pa.C.S.A.§725),respectfully requests that this Honorable Court transfer the situs of the Trust -4- created for her benefit under the Trust Indenture 0=Walter H. Baker to the State of Florida. DIXON -5- ., \ \ \ \I ! AFFIDAVIT STATE OF FLO Ie I vtt COUNTY OF ::!I /t::Dc. ) ) ) SS: Before me,the undersigned authority,personally appeared AMY ANNE.WEIMER LEVIN,who,being duly sworn according to law,deposed and stated that the averments of fact set forth in the foregoing Petition For Change of Situs are true and correct to the best of her knowledge and belief. Sworn to and subscribed before me this ~day of f-)~,1984. (f),/~~ O'ljfJ6/&t IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,?ENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 CONSENT I,PAUL T.WILLIAMS,Vice President and Senior Trust Officer of Northern Trust Bank of Florida,being authorized and empowered to do so,hereby consent on behalf of Nor~hern Trust Bank of Florida to the proposed change in the situs of the Trust for Amy Anne Weimer Levin created under ARTICLE ONE of the Trust Indenture of Walter H.Baker. ATTEST:NOn TRUST BAN:<OF FLORIDA ByJr~J---- PAUL T.WILLIAMS,VICE PRESIDENT AND SENIOR TRUST OFFICER IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 CONSENT I,EVANS ROSE,JR.,individual Trustee of the Trust for Amy Anne Weimer Levin created under ARTICLE ONE of the Trust Indenture of Walter H.Baker,hereby consent to the proposed change in the situs of such Trust. ·~A~By-----==':7':':-:::--::-:::=-=-f-EVANS ROSE,JR.-__ IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 PRELIMINARY ORDER OF COURT AND NOW.to-wit.this }.(.day of :/err ,1984.it is hereby ORDERED AND DECREED that a hearing is to be held on the foregoing "Petition For Change Of Situs"on the ~day of M.;e,q~,1984 at II ~OO /j.IJt.,·Courtroom No.4,r ' Washington County Courthouse,Washington,Pennsylvania.Counsel for the Petitioner is directed to give notice of this hearing to all living issue of Amy Anne Weimer Levin. .I ,., I '\ IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ') ) ) ) NO.63-70-311 ORDER OF COURT AND NOW,to-wit,this ~4,upon consideration of the foregoing Petition,and after hearing thereon,it is hereby ORDERED AND DECREED that the situs of the T:ust created for the benefit of Amy Anne Weimer Levin under ARTIC~E ONE of the Trust Indenture of Walter H.Baker be transferred to the State of Florida.This Order is conditional upon the Petitioner,Amy Anne Weimer Levin,filing with the C~urt satisfactory proof that a Court of competent jurisdi=tion within the State of Florida has assumed jurisdiction over the aforementioned Trust. - ,. • ORDER No.63-70-311 ROSE.SCHMIIYr.DIXON &HASLEY 900 OUVER BUILDING PITI'SBURGH,PA 15222 1-: I / ;0LG=tf /3)'1cf. /t/t/.5j.lJ fl.l~.1fd IN THE COURT OF COMMON PLEAS OF WA$HINGTON COqNTY,PENNSYLVANIA ORPlffiNS'COURT DIVISION IN RE: .TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANN·E WE IMER LEVIN t "'. .~~ • 0'f,l", •\.'t' ....r ~...,...., ~~ ~"-:'. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: ..,..• J TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR M~Y ANNE WEIMER LEVIN NO.63-70-311 ORDER AND NOW this day of---,1984, hearing sur audit of the Account filed in the above-captioned Trust,previously continued,is hereby fixed for Fric.ay,the 9th day of November,1984,at 11:00 o'clock a.m.,Courtroom No. 4,Washington County Courthouse,Washington,Pennsylvania. Counsel for the Accountant is directed to give notice hereof to all parties in interest. ~/-~J. " IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN (Formerly Amy Anne Weimer Ritter) ORPHANS'COU~T CIVISION NO.63-70-311 DESIGNATION OF SUCCESSOR TRUSTEE CODE DESIGNATION OF SUCCESSOR TRUSTEE FILED ON BEHA~F OF: AMY ANNE WEIMER LEVIN COUNSEL OF RECORD FOR THIS PARTY: RICHARD DiSALLE,ESQ. PA.LD.#05444 ROSE,SCHMIDT,DIXON & HASLEY FIRM #043 900 OLIVER BUILDING PITTSBURGH,PENNSYLVANIA 15222-5369 (412)434-8600 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNEYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN (Formerly Amy Anne Weimer Ritter~ ) ) ) ) ) ) ) NO.63-70-311 DESIGNATION OF SUCCESSOR TRUSTEE WHEREAS,the Grantor,Walter H.Baker,executed an inter vivos Trust Indenture,dated August 25,1936,with Edward L.Stockdale and The Union National Bank of Pittsburgh as Trustees; WHEREAS,under ARTICLE ONE of such Trust Indenture,the Grantor,after providing for the income therefrom to be paid to Anne Baker Weimer during her lifetime,directed in pertinent part as follows: Upon the death of Anne Baker Weimer aforesaid,the Fund shall be equally dividet into as many parts as there are children of Anne Baker Weimer surviving her,and a separate trust with respect to each part shall be continued for each of said survivi~g children of Anne Baker Weimer.From the net income arising from each of said separate trusts for the surviving children of Anne Baker Weimer shall be paid an equal proportionate part of the life insurance premiums on the policy or policies on the life of David P.Weimer,Jr.,as aforesaid, and the remainder of the net income from ea~h of said separate trusts for the surviving children of Anne Baker Weimer shall be paid to each child respectively of Anne Baker Weimer,the beneficiary of said respective trusts,not less frequently than quarter-yearly for and during the period of his or her life.Upon the death of each of said children of Anne Baker Weimer, respectively,the trust as to such child shall terminate and the Trustees shall thereupon pay over and deliver to the issue of said child,in equal parts,the property then constituting said trust estate for his or her benefit,together with all accumulat~d or accrued income thereon,free from all trusts,absolutely and in fee simple. WHEREAS,the said Anne Baker Weimer died on February 11,1975,and,in accordance with the terms of the Trust Indenture,separate trusts were thereafter created for the surviving children of Anne Baker Weimer,including a Trust for the primary benefit of her daughter,Amy Anne Weimer Levin ("Trust"); WHEREAS,since the initial funding of the Trust,The Union National Bank of pittsburgh has served as the ~orporate Trustee thereof; WHEREAS,The Union National Bank of pittsburgh has. notified Amy Anne Weimer Levin that it intends to resign its -2- position as corporate .Trustee of the separate Trust created for her benefit,thereby creating a vacancy in such position: WHEREAS,pursuant to ARTICLE TEN of the Trust Indenture,in the event of a vacancy in the office of corporate Trustee,a majority in interest of the then beneficiaries of the Trust,who are then sui juris,are entitled to appoint a successor corporate Trustee:and WHEREAS,Amy Anne Weimer Levin,being the only party having a present beneficial interest in the Trust,is now solely entitled to designate the successor corporate Trustee: NOW,THEREFORE,AMY ANNE WEIMER LEVIN,pursuant to the authority vested in her by ARTICLE TEN of the Trust Indenture of Walter H.Baker,dated August 25,1936,hereby nominates and appoints NORTHERN TRUST BANK OF FLORIDA as corporate·Trustee of the separate Trust created under such Trust Indenture for the benefit of Amy Anne Weimer Levin,with the same title,powers, rights,duties and discretions with respect to the administration of the Trust as the original corporate Trustee possessed,such appointment to be'effective upon the formal resignation of The Union National Bank of Pittsburgh. -3- WHEREFORE,IN WITNESS WHEREOF,AMY ANNE WEIMER LEVIN has set her hand and seal this C?~day of July,1984. WITNESS: -4- STATE OF ..P:{It>('t ,(Qo;)", COUNTY OF ..~Pad)Q..;,... ACKNOWLEDGEMENT 88: On this,the 2,516.-day of July,1984,before me,a Notary Public,personally appeared AMY ANNE WEIMER LEVIN known to me (or satisfactorily proven)to be the person wtose name is subscribed to the within instrument,and acknowledged that she executed the same for purposes therein contained. IN WITNESS WHEREOF,I have hereunto set my hand and official seal. .P~·EC2~·.········Notary gy.ll.c..~~ (YJd~Jrn~= Lfj.2t /?C, IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PE~NSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN (Formerly Amy Anne Weimer Ritter) ) ) ) ) ) ) ) NO.63-70-311 ACCEPTANCE OF APPOINTMENT I,PAUL T.WILLIAMS,Vice President and Senior Trust Officer-of Northern Trust Bank of Florida,being authQrized and empowered to do so,hereby accept on behalf of Northern Trust Bank of Florida,the appointment as corporate Trustee of the separate Trust for Amy Anne Weimer Levin created under the Trust Indenture of Walter H.Baker,dated August 25,1936. ATTEST:FLORIDA ~-J.._---By ~-.",,,.-~---,=--_~-=_ PA L T.WILLIAMS,VICE PRESIDENT AND SENIOR TRUST OFFICER J ------------, IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN (Formerly Amy Anne Weimer Ritter) ) ) ) ) ) ) ) NO.63-7(1-311 ORDER"OF"COURT AND NOW,to-wit,this .~.day of "-141"14/L,l.:~.l'T~ ~., the foregoing Designation of Northern Trust Bank of Florida as Successor Trustee to The union National Bank of pittsburgh is hereby confirmed and it is directed to be made p~rt of the record hereof. ,..-' ~-5,: toO ~,. -_. J f'V)en .<:1: \'-. -J 0- ,.0 CY) -J .~ \.l.IJ 0 ~ 0:::::c :::::<..) .l.IJ el.-L!...,}.:.. z ..CJ) 0 a ,~~ c-:i-- 0 "-I llJ (!) l.IJ ,..-.::: :e::0::(f)-" 1:.1.--:r: .....:c 0 <.0 -u.J "J:~.; Ln 0:::.~-.::. co. #' , • "'9 ,..I ~.~u ---------------------? ,1 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA IN RE: TRUST UNDER AGREEMENT OF WALTER &.BAKER FOR AMY ANNE WEIMER LEVIN ORPHANS'COURT DIVISION NO.63-70-311 SETTLEMENT ~GREEMENT CODE SETTLEMENT AGREEMENT FILED ON BEHALF OF: AMY ANNE WEIMER LEVIN COUNSEL OF RECORD RICHARD DiEALLE,ESQ. PA.I.D.#05444 , 900 OLIVER BUILDING PITTSBURGH,PENNSYLVANIA 15222-5369 (412)434-8600 FILED ON BEHALF OF: THE UNION NATIONAL BANK OF PITTSBURGH,TRUSTEE COUNSEL OF RECORD JAMES W.Ur1MER,ESQ. PA.I.D.#16428 BUCHANAN INGERSOLL,P.C. U.S.STEEL BUILDING 600 GRANT ,3TREET PITTSBURGH#PENNSYLVANIA 15219 (412)562-3800 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN } ) } ) ) NO.63-70-311 SETTLEMENT AGREEMENT WHEREAS,Amy Anne Weimer Levin,Income Beneficiary under the above-captioned Trust,has filed Objections to the First and Final Account of The Union National Bank of Pittsburgh,Trustee of such Trust;and WHEREAS,pursu.ant to such Objections,Amy Anne Weimer Levin has objected to the termination fee charged by The Union National Bank of Pittsburgh,as Trustee,as well as the legal fees charged by its counsel,Buchanan Ingersoll,P.C.~and WHEREAS,the parties hereto are now desirous of resolving and settling all Objections raised by Amy Anne Weimer Levin to the First and Final Account of The Union National Bank of Pittsburgh; NOW,THEREFORE,in consideration of the mutual promises and covenants contained hereinafter,the parties,intending to be legally bound,hereby agree as follows: 1.The termination fee of $1,800.00 charged by The Union National Bank of Pittsburgh,as Trustee,is hereby waived by such Trustee. 2~The charge of Buchanan Ingersoll~P.C.for legal fees in the amount of $l~800~00 is hereby reduced to $1,300.00. 3~The Objections to Account filed herein by Amy Anne Weimer Levin are hereby withdrawn~ 4~The parties expressly acknowledge that the modification of the fees of The Union National Bank of Pittsburgh and its counsel;Buchanan Ingersoll,p~c~~is not intended as an admission that said fees were not properly due and payable~but is~instead~being undertaken solely for the purpose of expeditiously resolving the present litigation between the parties~ 5~This Settlement Agreement shall be subject to the approval of the Orphans'Court Division of the Court of Common Pleas of washington County,pennsylvania~ IN WITNESS WHEREOF,James W.Ummer,Esquire,on behalf of The Union National Bank of Pittsburgh and Buchanan Ir-gersoll, P.C.,and Richard DiSalle,Esquire,on behalf of Amy Anne Weimer Levin,have hereunto executed this Settlement Agreement this 9th day of November,1984. James W.Ummer,EsquireB~chanan Ingersoll,P.C. C.0unsel for The Union National Bank of pittsburgh -2- fJAnne Weimer r-~'-"""I IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 ORDER OF COURT AND NOW,to-wit,this -:l.day of "'0.':~'::::..,..~,',~....--- /9 r~the foregoing Settlement Agreement is hereby approved and it shall be made part of the record hereof. ---..._-_._- ):"-r·.....•.-'_.f.t:._~..- ESTATE OF Qlourt nf QlomUUttt JUras nf lIusqingbtn Jlrtulsyluania (@rpqans·Cl!uurt IJiniswn .70-311 .No,63-.._ monnfg, j Walter H.Baker Trust for Arme Baker weimer,share of Amy Arme W.leVlll (fornerly Awl Arme W.Ritter) First and FinalInthematterofthe _ Evans Rose,Jr.,SUccessorA15'?~fbaal 1'1astee :i11d 'fhe Union National Bank of Pittsburgh, SurvlVlllg 'rrustee ADJUDICATION AND DECREE (. And now April 2-,19~,this motter having come on for hearing,audit and distribution and testimony token;upon due considerQ.t!~5~~f,the bal- ance for distribution in the honds of the Accountant is determined to be $1 05 , 536 . 77 and the account is accordingly confirmed;and it is ordered,adjudged and decl'eed that the said bal- ance be paid out by the Accountont in accordance with the schedule of distril:ution hereto attached and mode a port hereof,unless exceptions hereto,be filed sec.reg.or an appecl tak'en herefrom sec. leg.BY THE OURT Balonce per account__~[...$1:03,234.22 Additional Debit -Audit ~11,4,~5.14 114,679.36 Additional Credit -Audit Balance 1 Attorney Janes W.lJrr'[rer for Buchanan Ingersoll ProfesslonaI C6rporatlon 'Ib:Northern Trust Bank of Florida,SUccessor COrporate Trustee under the Walter H.Baker Trust Indenture dated August 25,1936 Trust for Arme Baker Weimer,Share of Amy Arme W. levin (fonrerly Amy Arme W.Ritter) Balance for further administration and accounting:. Principal -Personalty Stocks 83 shares American Infonnation Technologies COrporation,Cormon 833 shares American Telephone and Telegraph Company,Cormon 9,142.59 2,~92.9S 6,899.1. ~ - 0 'C"...I ~-~ ~ C"...I (/)< rr :J z -lG... n ..~ -..,-0 ...9 0 -l §, 0 :T..C W -0 :J ~0- ~ 0:::x:: 3=0 -0 ..3 w ·,~-t w 0-u...- ~-0 0 ! t- c---.fa -...- Cf) 0 ~ CD I ~'.<'~'N -N (":':l- .. U> WO 0 ; lJ.J ~--;:= -i I n::0::: (/)- .. __:x:: :r ! C- Cll c:::: o(/) fa ""- w oo<.-~S- I \ U'"J 0:::::;': I o::J ~ .... ! P i ! S i I flJ; 1II .....i i! 1·-' 83 shares Bell Atlantic Corporation,Comron 249 shares Bell South Corporation,CoImon 5,000 shares Cyclops Corporation,Comron 375 shares E.1.duPont deNerrours and Corrpany,Comron 334 shares General Electric Corrpany,Comron 86 shares International Business Machines Corporation,Capital· 83 shares NYNEX Corporation, Comron 83 shares Pacific Telesis Group, Comron 83 shares Southwestern Bell Corporation,Comron 1,144 shares Texaco,Incorporated, Comron 83 shares U S West,Incorporated, Cormon Bonds 2,530.18 3,26-1.38 ~8,403.29 .50 3,8~.52 6,155.02 2,3'14.22 . 2,Hole 48 2,289.0:, 3,985.86 2,157.06 $40,000 Norristown,Pennsylvania Area School District 6.70%dated 3/1/80 due 3/1/90 40,000.00 Tenp?rary Investrrent $300 Federated Automated Govemrne.nt r-bney Trust (Treat as Cash) Cash ... The foregoing balance is subject to payrrent of the following fee: ·Buchanan Ingersoll Professional Corporation Attorneys I fee Inoore -Personalty .Cash 300.0') 10.56 $06,834.22 1,::00.00 $05,:34.22 2.55 $05,536.77 No Balance 1, _.._--_._---------- No.63--·--10-3H:---.--..-----..-----.. In the matter of the First and Final Account of Evans Rose,Jr., SUccessor Individual Trustee and The Union National Bank of Pittsburgh,SUrviving Tl::ustee of Estate ofWalter H.Baker Trust for Arrr:l Arme W.Levin (fonrerly Arrr:l AIle W. Ritter). Abjubirntintl nub IIttrtt ......2 J . '11""\..~.. •/' " Form OC Div.91 11n 1Qt QJ)rpQans'<!!ourt iinillion Of thrWASHiliNGTllM Qtourt of QIommon 'ltaa of Ai~~t~x <!taunty Jrnnsylnania N o 63-70-311 (~~~x_x__RITTER)PEOIl:ASlm 3Jn t~r flattrr pf t~r £statr pf ~ WALTER H.BAKER TRUST FO ANNE BAKER WEIMER,SHARE) OF AMY ANNE W.LEVIN (FORMERLY AMY ANNE W. i(noUt 1\11 tlrn SHy W~l'sr l\1rrsrnts.thaNORTHERN TRUST BANK OF FLORIDA do hereby acknowledge to have received from The Union National 3ank of ..--J;:P:...Ii'"""t:..l.t~su.bL.l.u4..!r~g;l.!h.l:...«,,---,T!o.ir!=..iU",,"S2.tl::.:e>::.;e~-:-t he sum of ,(EXECUTOH-ADMINISTHA'I'OH-'I'HUS'I'),;I!:-,nUAHDIAN) )Dollars I ____.....'S.utoc.loo.uc.o.lk~sOL-('f,66«'523.66 Bonds 40,000.00 Principal cash 310.56and---r=c=~=-==....------------_q'7-E<-eE<-e _Income cash 2.JJ Less fees per Decree 1,300.00 $105,539877 in full of the amount awarded me under the decree of the Orphans'Court Divisi:>n of the Court of Common Pleas of AJlegheny County,Pennsylvania,entered at the above num:'er. 'And I do further authorize and direct the Clerk of the Orphans'Court Division to enter a receipt on the Audit Docket in my name,place and stead. llitnrss my hand and seal this I!Itda"of P,,j9~ ,~~:IJ /l YlCE P,RESIDENT \Virness ;:--l-4L~'--f-!1!L!.L.~=--==-:!.JL.~~~-lAlL!.<'::U1 SLA1.., ----T-~ORTHERN BANK TRUST COMPANY OF FLORIDA x ·- ~.i"~. NO.63-70-311 ~ AUDIT:VOL.PAGE__ "Itereipt ESTATE OF WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER,SHARE OF PM:!.k'JNE·~.LEVIN (FORMERELY PMi DECEASED ANNE W.RITTER) ''VI''o"",/r;E "'t:J0 :)l;®./L~iN!IIII47c'~·/:,~,%'1(tffI7:~::iJrn lI'i"_;":~II'~;~:;i 'l()'c'!J..:!l."..~II~~~ @/I1J.i !J:r~hi A~iJ 586 @~~:J-l s.'J b}8 Filed _ Fee _ Attorney JAMES UMMER,ESQUIRE iI• Address BUCHANAN,INGERSOu..,P.c. 5700 U.S.STEEL BUILDING P~TrSBURGH1'PA 15219 ,.~.... ~i··'·~~q.1 t3-7fJ-3·//j IN THE CIRCUIT COURT IN AND FOR THE ELEVENTH JUDICIAL CIRCUIT DADE COUNT'!,FLORIDA IN RE WALTER H.BAKER TRUST .FOR ANNE BAKER WEIMER, SHARE OF AMY ANNE W.LEVIN (FORMERLY AMY ANNE W.RITTER) File No.:~5 -r;6 I-J 2.- Div.No.:03 ~Fla.Bar No.:228382 Order Of This Court Assuming Jurisdiction Of The Trust In Order To Comply With Pennsylvania Court Order And To.Appoint Successor Co-Trustee On the petition of EL.l\.INE DOYLE ROSEMOND,attorney 'for AMY ANNE WEIMER LEVIN,the primary beneficiary of the above referenced trust and the party therein given the power to cha~ge the Trust's situs and the proper party to appoint a successor individual Co-Trustee,that an Order be entered whereby this Court assumes jurisdiction of the Trust in order to comply with Pennsylvania Court Order and to appoint successor Co-Trustee,the Court being fully advised in the premises,it'is ADJUDGED that this Court I.·· E. and appoints thereof. \ ~j LAW OFFICES ELAINE DOYLE ROSEMOND,2127 BRICKELL AVENUE'..MIAMI,FLORIDA 33129'n~LEPH.ONES 856-2219'854-0629 J IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION HEARING ON AUDIT THE HONORABLE PAUL A.SIMMONS,Judge of the said Court. • r IN RE: ESTATE OF ~WALTER H.BAKER, 0(>~Deceased. zz 1&1 Q, ioI-~Z ~BEFORE:0( ~ ) ) ) ) ) ) ) ) No.63-70-311 e r~ ..,:u ~APPEARANCES:a oJ0( U o~TIME: ROBERT F.PATTON,ESQ.,of Pittsburgh,Pa. representing the Accountant. September 9,1975. Third and Partial Account of William G.Stewart and the Union National Bank of Pittsburgh as trustees under a trust indenture of Walter H.Baker dated r I iii Il 1&Il-IIo~THEa:...~MR.oo oJ0( oii:II.o COURT: PATTON: The estate of Walter H.Baker.Mr.Patton May it please the Court,this is the August 25,1936.That trust indenture provided for the income to be paid for the life of Anne Baker Weimer. Mrs.Weimer died on February 11,1975.The Trust Agreement provides that on her death,it is to be held in trust for her children surviving her.She had two iI-.--------it-----------------------------ll-_ -* , I ?:1, children surviving her,Amy Anne Weimer Ritter and Walter I B.Weimer.Since the filing of the account,and in fact, since the preparation and signing of the Petition Sur Aucit, • the individual trustee,William G.Stewart,has advised Union National Bank that he would like to resign as trustee under this trust.Article Ten of the Trust !Ii0:~of October?0:oII.~MR.PATTON: can be appointed • be submitted and a nomination of a successor trustee another matter in another of the Baker Trusts about to I think we can,Your Honor.There is Cari you do this within 30 days,by the 8th come up which will require a hearing,and perhaps the Corirt'tQ hold this.6pe~until the resignation can I we could set this for the same date as that hearing. the very short notice,to prepare a petition nominating a successor individual trustee.I would like to ask Agreement provides that there shall always be two trustees,and that the·individual trustee is to be selected by the then beneficiaries of the trust. We have not had an opportunity because of COURT: t-o: :JoU oJ0( uii:II.o ~z 0( ~>-III Z ZIIIII. Zot-elZ :rIII0(:t .:u 0:t-IIICi oJ 0( U o :J.., Zl-I' N THE ! THE COURT:What type of notice would you need in order to"""do you have any charitable disposition in thi trust? MR.PATTON:No,Your Honor.There are only the two income beneficiaries and a possibility of their issue ha ing an interest in it;one of the income beneficiaries is J 7 ./ married and has children,some Jf which are sui juris. THE COURT:The question has to do with whether or interest and the question is wh~ther they are among not they have an interest in th~trust. income beneficiaries are included in the class of successor individual trustee. I would think if the issue of the two You have to have a guardian ad litem for tlem, Potentially unborn beneficiaries,yes. Do you have any unborn beneficiaries, Yes,Your Honor,if there is any conflict In other words,b~fore you can actually Yes,Your Honor.They have the remainder potential? wouldn't you? among the beneficiaries,I cannot say whether there successor. will be. the voters,persons who have the right to vote for the appoint the successor trustee,you have to determine the class of beneficiaries now ~ntitled to nominate a PATTON: COURT: PATTON: COURT: COURT: PATTON: cic:bJl::MR.oc.. ~THE..II: :IoU .J..;u MR. ii::II;.Co ~z0(~>-~THEzillL :io..ezx C1l<~ ~.MR. ll:..t'I a .J0( tJ a:I~THE..r-01 I -!i MR.PATTON: • beneficiaries,that their interest would be represented by the present issue who are li¥ing and who are sui juris.In any event,I think there is an open question as to when the trust indenture speaks of the then beneficiaries,whether it's not referring to beneficiaries then receiving the income interest,which J -~------------.r----------------------------------""'-""" A would be limited to the two present beneficiaries. THE COURT:Now the next question,do you have any potential beneficiaries who are not 18 years old or olde ? MR.PATTON:I am not sure whether any of the children-·- there are four children of Mrs.Ritter who are under ad litem for these children? of beneficiaries,I would think their interest would :!~THE~>1:1--~c. ;i MR.o I-~ age. COURT: PATTON: Can somebody be appointed as guardian Again,if they are included in the class ,.u-:~be represented by the brothers and sisters who are sui would be the same. of the Court under the statute.But I think their inter~st Let's suppose there is'a contest as to Don't you think they ought to be represent~d I believe that is left to the discretion Are you positive of that? by somebody? j ur is. COURT: PATTON: lIia: III~THE COURT:(. II.II' II l-II ~uc: I-UCi THE oJ-:~MR.o :J.. -=r·Q CL the competency of the successor trustee as to whether he is a competent person to manage this trust... L ll.ll.c MR.PATTON:I would think,Your Honor,that the three members of that class,that lS of the remainder class who are sui juris would have the same interest as those minor beneficiaries and would adequately represent the interest of the minors. THE COURT:In other words,you don't think you ought to move to appoint guardians of the minor childrer. ..J , I i IIwouldnotthinkso,Your Honor.Well,MR.PATTON: !:;::=====1*========================*====;=-" I do not believe that it is a function of the ?resent trustee to make a determination who the then beneficiari~s of the trust are.It would seem to me that it does refer to the income beneficiaries in any event • discretion,if you should see fit to do so. If you make a determination that they are in fact X think that is within Your Honor's In order to expedite this matter, I think we ought to have them represented and I ought to entertain some sort of petition to appoin appointed anyway,out of an abundance of caution? a guardian ad litem for all minor beneficiaries,because it's like what comes first,the chicken or the egg. don't you think it might be advisable to have somebody COURT: PATTON: THE COURT: ~z0( ~>-l/l Z Z \IID. i MR.oI-elZ I: l/l0(~THE ~!:!I!:I-l/l C .I 0( o C :J.., :tl-I'N • is that right? to see that such a petition is presented. eligible to vote,then you've got to start allover agai , ~THE COURT:l&.l&.o That is true,Your Honor.I will be happy You have no charitable disposition,as PATTON: iii I!: \IIl-I!:oD.\II :MR. I!::Joo .I 0( I understand. MR.PATTON:That is correct,Your Honor. THE COURT:Get a petition in to me as soon as possibl and we will suggest somebody to act as guardian ad litem for the minor beneficiaries.And in the meantime,let's set this down----how long do you think it would take . ..v for all this? MR.PATTON:We have a hearing on another of these I I.trusts that I think will take a half day. THE COURT:You mean you haven't scheduled that yet? •MR.PATTON:We haven't come to that yet.There are I four trusts here to be done this morning. i MR.PATTON:oI-eI~THD COURT::t III0( ~MR.PATTON: here you can dispose of all of it at one time. at 10:00 o'clock.We will try to give you the rest of the day for yo"ur o,the"r a'ctiyitiesl ,so when youcome up .. 0( z~THE.J>-IIIZZIII0.. ..:~THEII:I-III a .J< U a :J., :t...,.. (II COURT: of November. COURT: Suppose we then give you the l3~h or 14th That would be fine,Your Honor. Which one would you rather have? Either one. We will set this down then for the 13th ui MR.PATTON: II:III I-~agreeable. 0.. III :THE COURT: II: :J8 Baker Estate? .J<~MR.ZERMANI: ~(Court Crier) THE COURT: Thank you,Your Honor;that is quite ) , Would you mind'announcing the ~alter H. Your Honor,I received no response. Is anybody in the Courtroom ot~er than Mr.Patton interested in the estate of Walte~H.Baker? (NO RESPONSE) THE COURT:Hearing no response,this matter will be set down for a hearing at 10:00 o'clock A.M.on the 13th day of November. l AUDIT CONTINUED ) J •0( z0(:i are >L'~theIII Ill. I hereby certify that the proceedings and evidence contained fully and accurately in the notes taken by me on hearing of the above cause,and th~t this copy is a correct By the Court, The foregoing record of the proceedinfs upon the ~~aul A.Simmons,J. ~transcript of the same .... ClZ I:III0( ~ ai ll:•~hearlng of the above cause is hereby approved and directed toll:o~be filed.ll: l-ll: :JoU .J<oii:lI.o I' ~tt t4~(ttnurt nf Qtnmmun Jl~an nf lfan4iugtnu Q!nuuty ®rp4aun ~QLnurt llliuininu In the m3itter of the Audit of Account in J Estate of Walter H.Baker Trust for Anne Baker Weimer TO THE AUDITING'JUDGE: No.311 of 1970 f Enter__=m:llY_:-1 appearance for-=--....<p=--e::..;t=fc..:t:...:i::..;o::..;n:..:.=i:,::.n::s;g:2.-.:::.c.:::o_-....:t:....:r=--u=-=s-=t:..:e::..;e::..;s:=.J..---,-W:...:i=.=-.=l:..=i:..>a:::m::.:.......;::GC-'.'----_ Stewart and The Union National .Bank of Pittsburgh. 26th day of'_J::.Au.u'4g§>Jl..d.J1S~t ,19-15- N.B.-Counsel shall,by separate 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 paper. Council suggesting proper distribution shall file a separate concise slate- ment in that regard. No.311 of 1970 In re Audit of Account in EstaJte of Walter H.Baker Trust for Anne Baker Weimer AUDIT 'rarripr fnr i\ppraraurr FOR Petitioning Co-Trustees William G.Stewart and The Union National Bank of Pittsburgh 'Robert F.Patton,Esq. ,Buchanan,-Ingersoll,Rodewald, Kyle &Buerger 1800 Oliver Building -P~ttsburgh,PA 15222 Attorney ~2 arnurt arnmmnn Jlru.a Qtum nf lfu.a1}ingtnn iitti.ainn Qtuunty J In the matter of the Audit of Account in Estate of Walter H.Baker Trust for, Anne Baker weimerI share of Amy Anne W.Levin (formerly Amy Anne W.Ritter) TO THE AUDITING JUOOE: 63-70-311No,,_ Enter my Trustee appearance for The Union National Bank of Pittsburgh,Surviving N.B.-Counsel shall,by separate paper,present a concise statement of I3&ch 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 concise SeAta- ment in that regard. r ~. I \ / " I No.63-70-311 In re Audit of Account In Estate of walter H.Baker Trust for Amy Anne W.Levin (formerly Amy Anme W.Ritter) AUDIT 'ratripe fnr AppearaUtt FOR The Union National Bank of Pittsburgh,Surviving Trustee James w.Urnrner,Esquire Buchanan Ingersoll,P.C. United States Steel Building 57th Floor Pittsburnh.~A 1521q Attorn&y ...a ~- ;} rI ~- (t;, J9.~~ IN THE COURT OF COMMON PLEAS OF WASHINGTON-COUNTY,PENNA. ORPHANS'COURT DIVISION,':',, No.311 of 1910 1 I 0 ~:..,.,•,?.:. = ';'-'..I 0, "v I /t..... I-I IN RE WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER THIRD AND PARTIAL ACCOUNT OF WILLIAM G.STEWART,Successor Individual Trust'ee"and THE UNION NATIONAL BANK OF PITTS- BURGH,Surviving Trustee, under Trust Indenture dated August 25,1936 PETITION SUR AUDIT '.,-. ~)..-..;/ L--, (;'J , •D -~~, Rob e.r:t F.Pat,t:on,,E sq. BUCHANAN,'INGERSOLL, RODEWALD;KYLE 8t BUERGER 1800 OLIVER BUILDING PITTSBURGH,PA,1!S222 TELEPHONE !562·8800 ,-.'.I. I ,.,...I", IN .THE COURT OF COMII10NPLEAS OF WASHINGT.ON .COUN'IY,.PENNSYLVANIA ORPHANS.'COURT DIVISION IN RE ) WALTER H.BAKER TRUST FOR ) ANNE BAKER WEIMER ) ) THIRD AND PARTIAL ACCDUNT OF ) WILLIAM G.STEWART,Successor ) Individual Trustee,and THE ) UNION NATIONAL BANK OF PITTS-·) BURGH,Surviving Trustee,under ) Trust Indenture dated August ) 25,1936 .) PETIT.ION S.U.R AUDIT No.311 of 1970 . To the H6Qorable,th~Judge of Said Court: The petition of William G•.Stewart and The Union National Bank of Pittsburgh trustees under the·trust .indenture of Walter H.Baker for Anne Baker Weimer,.resp·ectfully repre- sents.:· 1.Walter H..Baker.entered into an inter vivos trust indenture with Edward L.Sto:ckdale and The Union National Bank of Pittsburgh,the 25th day of August,1936.A true and correct :copy of the said trust indenture is attached hereto as a part hereof and marked Exhibit A. 2.A First and Partial Account was filed by Edward L.Stockdale and The Union National Bank of Pittsburgh,trustees, at No.413 of 1960..By a decree of distribution,the trust fund was awarded to said trustees for further administration and accounting. 3.Edward L.Stockdale,individual tr~stee under said trust indenture,died on November 5,1969,.3.nd a Second and Partial Account was ~iled at No.311 of 1970.By a dec~ee of ""I ,. I distribution dated August 27"1970",the trust fund was awarded to William G.Stewart,as successor individual tr.ustee,and The Union National Bank of Pittsburgh,as surviving trustee, for further administration and accounting. 4.Arti:cle One of the said trust inder:ture of Walter H.Baker provides,'in part,.as follows: The above mentioned s to,ck and any securiti.es or pro- perty,that may be substituted therefore as t~erein pro- vided are hereinafter referred to.collectively as the "Fund".. The Fund shall be held in trus~as a trust fund, invested and reinves.ted by the Trustees,sUbject to the provisions hereinafter contained,.and they shall collect the'income thereof and,after deducting therefrom all expenses incident to'the management or the trust and the compensation of the ·Truste.es·,.shall pay the net income asf6llows:(~)so much ~f the income as shall be necessary shall'be','used arinuallyin the paynent of premiums on a policy',or policies of insurance in ,the' aggregate.sum of one hundred thousand dollars ($100".000J t8.ken out :or to.be,taken out by the Trustees on the life of David P.Weimer,.Jr.,,in such 'company or companies as maybe ,selected by~the Trustees hereunder and which' policies shallirrevo,cablybe,made payable~o Anne Baker We,imer',.wife of said David P.Weimer ,Jr.,with the children of said Anne Baker Weimer irrevocably named as 'contingent benef.iciaries therein,and (b)the remain- der of the net income arising at any time d".lring the dura- tion of this trust shall be'paid not :less 'f:,"'equently than quarter-yearly to the daughter of the Grant·)r,Anne Baker Weimer,during the per'iod of her'life.UpO::1 the death of Anne Baker Weimer aforesaid,,the Fund shall be equally divided into as many parts,as th~re are children of Anne Baker Weimer surviving her,and asepal:'ate trust with re~pect to each ~art shall be continuej for each of said surviving children of Anne Baker Weimer'. 5.·Anne Baker Weimer,daughter of Walter H.Baker and life income beneficiary under the terms of said trust'inden- ture,died February 11,1975,and the account now before your Honorable Court for audit is occasioned by her death.Anne Baker We.imer was survived by two children,a daughter Amy Anne (Weimer)Ritter,hereinafter referred to as Amy Anne Ritter, and a son Walter B.Weimer. -2- " , li,.I I-I .6...The.purpose's:.<pr:.~h:is.:acc:ount ·are.·:to.account.:for all'transactl:ons by.-th.e'".trust:e:e·s;'from August·:27.,.1910,.to:th.e death 'of said Anne Baker.We.i"mer and to'.pr.ovide.Tor the distr:ibu- ti:on .of .the·trust :cor.pus 'into:two separate:continuing trusts, one.for the benefitof Amy Anne Rit.t:er.and one fer the ben.efit of Walter:B.:We:imer.,.as :suc:c:es:s'or l,ife 'income ber_.ef.iciaries . .7.·.No"ne.·of .the part.ies 'in interest is in the military .ser·vi:ce.: have.rece.ived additional r.e.c:eipts.'and made 'addit::'onal disburse- men"ts:as :se:t:;.forth ·inthe.supplenientalacco'untingatt:ached her.eto:as "Exhibi:t B.. 10.;Ther'eare'no creditors;:df the trus·-:;.estate.and no q.~esti:ons.'for adj udication. 11.The ·s.u:c:c.eeding income be.nef.iciarie3,.Amy Anne Rit.t:er:and Walter B•.We:imer.,..are 's'u'i'Jur·-is·.··The remaindermen Of each 'succeeding trus·t·,:.cohsi·sting of the issue :of Amy Anne Ritt.er·.and Wal.ter B..We.imer,.res.p:ectively,..are unascertained but their interest·s:'are 'similar .to and not adverse to:tho"se of .thesaid income beneficiaries'. WHEREFORE,your petitioners prayyo"ur Honorable Court to.confirm the account as.filed and award the balance .for distr:ibution to William G.Stewart :and The'Union National Bank of Pittsburgh;.successor and surviving truste:es under the -3~ ,.:". "'....J "I trust indenture ,of Walter,H.,Baker,:,for further administration and accounti~g in accordance with 'the:.terms .of the said trust indenture of Wal t'er H.Baker. Wi11iam G.Stewart THE UNION NATIONAL BANK OF PITTSBURGH By,/~;I~ZL- SENICR VICE PRE5lDt::NT -4- '----------'-'------------------------------------------_._--- ;..c-·.....·....::1....••...",---..,' 1 iiADK thi~~5th ci.a,y of J~ugust,1936,between ~\.hi...I.l:'.,h H.BJ;.K,\*,of _the city of We..shington,?Washi:lgton County,Pennsylvania (herein(lftr:lr cc.llee.the llGrantor"),first ;>arty,ana iWWhiw L.STOCt\LnLE,of lat.Lebanon 'fov.nship, Allegheny COtL"ltyJ'Pennsylvar.i·E\.JI CUld 'fHE UNI0I\Ni.'l'IvNiIL BANK UF PI'I'ISEUhGH ,a - corporation orgnnizeo.anCl exis'i!ii1g unoei'the laws of the Unitea.States of \ Ai~lericaJ/az T..·..u.~·tee:3 (hereinaftercall.en the "Trustees"),secone.part.ies, WI'fHESSE'IH: That the Grantor,in consiaeration of one o.oUcr (U)now paid to !lim by the Trustees,does hereh:!aS3~gn,t!'&usfeI'jl set over onQ deliver unto t.he 'frustee"one thousand (1,000)Gl1CireS of the preferred c~ita.l..stock of -Uni versal ,ste'll COilip81:.;: .ARTICLE ONE.The ab,:>ve mentioned stock c,no.any securities or property tluit may be'substituteci therefor'a.s herein provirien are n0reinc.fte:- ;:,~:fe:rrcQ to collective1y as tile IlF1..1r..a". Th~[o'U.11e;t .shall be h,~ld in t:1.:'ust <i5 a trust fun.;).:;unestea o.j1o. r~inv€~tea by the Trustees,S"i.lbject.to the :Jrovi~ion5 he::'Gin:-d'ter contCiinet1;. . I I I I ClaQ they Shill col_act the i::lccine thereof ana,after <iecucting therefi~c;n all. e.X[Jenscs incid·-;mt,to the aianagement of the trust ana.tne cO.1l2ensbt:i.on of the 'Ix'usteGS~~iHi;LL pay the net income as fo1J.ows:(a)so i~uch of tile inccme f.:.S shall be necessa:ry shall be US€Cl [lnm.lclly in the iJo.j1llent of preiniums·on c.'I policy or tJoJ.icies of insurc:n~ein the aggregate swa of ene Iluna.rcQ thousand Cl·')l...c.r~(~~J.OO,QOO)taken out or to be tc::...~en out by the Trustees on the life of L:;;via P•.Vle:uner..Jr•.~.i~such COnllJcll.'lY 01'comp~tl1ies C.s !Itay be selecte:Q by'the Trustees heremlder ana which 'policies shall.irrevocf:.bly ~!ncL(~e f.'5;rs.ble t'.:l k~1e Baker ~e~ner,~ife of saia Lavid P .·~e£~er,Jr.,with t~e cllilc~en of Beia J\lma Balcer ~iai:r;er irrevoc[;bly naineo.as contingent benei'iciari::J5 thGr.:lin,aZlQ (b)the rc;:taincior of'the net income arising at any tijne :.uring the Gurb.tion '-1 - Certified to be a tnue and correct copy of the original. Exhibi.t "Aft. II~-,...j"'/.. M4!~... e,h: ·-...: / I'". ..,'" ,, of this tru,st shall be p-aid not,less frel{uently thbIl yuaX'-:,er-yeerly to the daughter of the Grantor,Anri~Baker ~ieiIner;Ciuring the perioo of her .life. Upon the aeat,h of Anne Baker Weimer 8fore~aid,the Fund sJ:1all oe e~u&lly ai.viaea into as many parts as there Cire,chilaren of Anne Boke:-~)'eililer surviving her,and a separate trust with respect.to each 'part sll&.l;l be cont.inued for each of SCiid surviving'chi.l;a.J'en of .Anne~Bc.ker Weimer.From the net income arising frolll each of said sep<=.rate trusts for the surviring children of Anne ' ~6ker Weimer sholl be paid an equal proportioncte pert of the life in~urance premiums on the,pt;licy or policies on the life of 1c.via P.\'leimer,Jr.J as Icforesaia,ena the re,laina.e.c of the net incorne from ec.ch .)f 80:ia s·et><.ir~tte trus ts for the surviving chilaren of .Anne Buker Yieililer ::;hc.ll be puia.to euch chilo.respectively of Imne Bcl{er 'j'tei:ner,the benefici:=.ry ·)f saiu respective trusts,not hss frequently than 41lc:.rter-ye~rly for alG <Gring the pedod.of his or her life.Up'on the ci.€ath'of each of s<..ia cnilrlren of i~rme :Ocker Vleimer, respect~velyJ the trust 85 to such ch5.1a sh;:;ll ter.ninate ·;n.u -::'he Trustees sneJ.l thereupon j)rtY over and o.elivel'to the isslJ.e of saia chile;in el.i1wl p~rts,the pro~erty th~n con::,tituting sCJia trust estc.te f.-.:>r ilis or .her benefit, together with all "ccu;:.;c.la·~eu or ~ccruea income thereon,free fro:n ell trusts, absolutely anti in fee s~n~le.In uef&ult of issue of any'chilu of hnne B~ker Vlei:ner survivin~Cit the d.e~th of ~r;.iQ chilu,seia chila9 s trust property shcJ.l continue to be held in t~~st by the'Truste~s,:in e~ual ~erts,for the sisters enG brothers of sd.Q child so cieceaseci.,sl.":bject to'the fJr:.>visions of this inaenture.In aefault of issue C.nc surviving ::.isters al1Cl brothers of said. I ' chilo.of'i.nne B.s.ker Viei.ilsr so aeCSc.scd,the pro~erty halo in trus'('for s&id. chU"of hers so deceased.,s!1o.Ll be tJEia.over t:nQ a.~livere::.to t heL7 next of kin of the blood of Arme .B~ker Weimer cHi b;,'l the li:...wS of t~1e ~tdt'3 of ?enns~'lvc..nib. wouJ.G have beE.n entitled tu tAle Sbme if sc.ici chilu of hl1ne .I3~,ker i';cimer hb.Q ,, b5en legc.l.Ly seizeil ana possessea.of ui~or Ller !,e.srJectiv-e stla!'e of saio.i'una in his Ol'her own right I c.nQ 11<..:.0 td.6Cl intest<ite,C.na for t.1is f>uriJcse said. 'I\')',: ,,I,L ,J ,.. chilClren of .hnne Bak.er v~eimer shill be consiaered citizen~of Pennsylvania. vdthout regara to the pl~ce in which they sh~l'resiQe bt tne time of his o~ her acc-.th.As to any chilO.or t,nne B;:.J~er 'i~eimer '..tao rn&y be.born C'.fter the' date of the neath of the'Grantor herein namea,uny ~roperty hela in trust for saia chilu hereunaer,together'with all accUi'aulQteQ or accrueu income t1)ereon, shall be pala over ana delivereu to said~·chil.a,free from cJJ.trusts,abso- lutely ana in fees~nple;when sbiei child shali have attained the ~ge of twenty-one (~l)yebrs,ana the trust as to s~ia chilo sha~then be te~nin~ted. If Dny proiJerty is heJ:d.in trust for <my beneficiCiIJ'hereWlQeL'.or shill go to persons who ~,all be less than twenty-one (~)years of age,t~e'incom~' therefrvm,or so much thereof oS &lall be nece5sa~J,Shbll be paid over by said'Irllstees for the maintenance,eaucation ClIla Silrl:JOrt ·:>f such ininorsQ iI.rl'IICLE '[viO.1\11 aivitien6.s iJny&ble with resfJect to any p-:Jlicy or policies of insurance on the life ~f uavid P.~eimer as herein }roviaea for shall be o.isposeCi of b.S the Trustees in their cdscretipn Jlc..y a3terarines that is .to say,the 01videncts may be usea for the'purchase of yale-up adoitional life insuranc~on the life of lJavici Po 11eiJner or the oivi<ienas may be receivea in ce,sh <:inQ t->aiei over to the beneficiary or beneficiaries here- unaer or be aisiJOSSQ o~otherwise in the aiscrctien of the 'fr<lstees. The Trustees in their sole c.iscretion may at em;}"tiil:e or from time to time borroVi en or illbke loan~against the life inwrance po.1.icie5 on the life of Lavid P0 ~;eimer Cina U~e the ~roceeQs of such loans for the benefit of the beneficiary or beneficiaries hereunder as the EDdgencies of the situation ~1n the aiscretion of tne trustees iuay Qeten~leo 'Il1e 'Irustees hereunaermay at my time in their sole oj.Be.retion &nO at their option aiscontinue the paYiuent of premiums on c...1.1 or .sny part of the in5ur~,ce on the life of Cavia P.~eimer herein ~~oviaeo for. ~h~lC1E TIihEE.The TrustGes ~ay hola shiu secu~ities tr~lS- ferred to tnem hereunuer or from time to ti:Je in their uiscretion iUb.Y otiell oX' otherwise oispose of ill or.a.,y of the sume,or c::.ny securities or propeI~J' int.o which they mc:y be conveI'teo as hereinc:.fter proviuetl,Lt i.lUbli·~or -3- ',>;1.1 'i ",•. privete 5&les to such person or persons for such tJrices C.na uiJon 5v.ch tenus b~they shc:..J.l ueem propel'.In case ,of any sue orbther =,~,sr-'osition,or any liquiaation of ~y securities or ~roperty ~t·any time helo hereunaer,the Trustees shall,fro.n time to tirne invest ana reinvest the proceeQs in ::.uch .stocks,bonos,notes,alortg~ges or other securities c;;.s they shell 14ee:ll to be safe &.nO wise invest;',lents"whether or not.the SC,i';ie be legd invest;.lents for ' trustees unoer the laws of the State of Pennsylvania. 'Ihe Trustees are'authori zed c'na e:apowered.at cny time or .from. time to time in their sole ai:>creti.on for cny tJurpose to torroYi'!!loney G:nQ for tnat puriJose to t:>ledge or :nortgage any of the assets or pro).>erty then constitut- ing the funa anti to execute ffilQ deliver any ~o all notes,bonas,oblig~tions, :i.6rtg~ges,bssigllinents and other instruments c.na to r>erform all c.cts necessc..ry, jJroper or conv~nient in,conneGtion there'with,o.:ny a..'1Ci.all such lO&rls.lJ pl.eciges Cind lUOj,"tgCJges to be .ut.ic.e in tile sole uiscreticn of such Trustees c.IlU for such amounts tnci upon ::mch terms c.IJ they shill aee:n t>ro,t)'ar. No part of the preferreu stock of Universal Steel <':oil;-lcmy hereby trC:.ns~erreo by the Grantor shall be sola 'at ~l1Y tiiae without the con&ent in i\iriting of a llc:..jority in interest of '\1ile then benei'iciCtries of the trust creCJ.tec.by this int"Lentur.e\'Jno o.re sui juris.. J>nTl<.:LE r'OUH.No purchuser of any s.ecurities or zJroJ?erty at any tiine solQ or otherwise aispus;d of by the ''Ii''UE,tees shu1 be uncier <.;ny resjJonsibilit;r or 'liability for the c.PlJlication of the £lu:,chase :aol1ey.The Trustees'shell be under no responsibility or l.iability to see to the ap~lic&tion 1 of e:.ny income or ;Jrincir>al aistributeo ~y them to any person entitlea.to receive the sC.me unQer the ;)rovisions of this ina.enture,In connection with the Sole or transfer of any s,~curi~:.ies or pro~erty I!\(-:oe unoer the r->rovisions hereof,the Tl--ustees are .her9by uuthorizeti.to eY..ec'.lte &na (!eliver ...~.U such / revoc~ble ~na irreVOCable powers of attorney,bills of sa~e,~ssi~,~nents, .ueeas,convey.:nces c:.nc.such otiler instru:nents cos .ili;;.y be nec'es5ar~1 or tJroper ./-- in :'!l<.king such sc:ie or tnnsfer,rlhe certii'icf.tes for all shares of stock ,' -4- I ""'-'-II'" ~"...., , and the'title to c;ll rew.est.at.e which from time to time Jf..c..y be helu by the Trustees hereunder shill be transferred of record into the names of the Trustees as trustees nerel1naer.The voting powe#r upon ill sh€.reB of stock or other securities at any time held by the Trustees hereunaer sball be executed by the Trustees in person or by rJroxy.Ii:the Trustees shall at any tL:::hold or purchase bonos c;t a price in excess or.pol',they shall not be re4uireci, except at their .option,to wnortize that ?esrt of tIle purchase t'rice in ex.cess of par,but &11 interest ~eceiveQ on soia bonos JnhY be.treated a~d paia out &8' income;or at the option of the Trustees any inco.:ne in t;1eir hanos Lllc..y be used at the time of ~urchase to'~~~ly ~g&inst that part of the cost of said bonus which is in excess of par. If tee funa shall at any time or froja ti.li.e t,O ti.lle :tncluo.e !~eal estate,the Trustees shill h&.ve power to holo.and ;nunage any such real estc.te~ :aulce rel-'airs and iiUtJrovem.ent~;ona lucke leases thereof to such tenants for such perioas ana upon such terms LC;the Trustees in their aiscret:i.on r.J.oy aetennine; and no le&se by the T~lstees for a term of five yeors or less shall be ter- ::Unatea·by reason of 't.he termination of the trust pefore the'ex~ir::tion of the terra of tne le"se,but in siJit.e of tne terliunation of the'trust,::;uch .Lease shall remain in full force Lno effect Quring the terlll th'3:reof"'The Trustees shall have.~ower to receive one coll.ect rent.s,interest Dna ottlf:~r inco,ue of Saia 1'e<:J.e~t'<;te or 'other trust property,using such le6U tJrJceecings as they illay aee:-:l neces5dry for the puriJose;anQ they.shc.J.l have power Cit any ti:ile to se.U: convey i=na tre-.ns.f'er Ii..~y or aJ~rec.:l estate ono other iJropert~r ~'ihich they may trcnsferrins the s~ne b~aeeu or other instrwaent,in writiJ.1g)in su.ch form ana \o':"ith such covenants as the 'Trustees.ma~r aeem best,without the consent of any court ana r4tt:out .Liability on th.e part of .any !Jurchoser to see ·to the Cipplic~tion of.the i='urch.~se "lloney.;' The Trustees ere c.uthori5ea mo e;llpowerea to enter into,consent to or oj)~ose any cort-lorote l'eorg<'.nizCitions,Illergers;cOIil60liuc:.tions,;oissolu- tlons ana liquiClc.tion.s of Wly corpor"tions \'lnose stock or other securities -5- -' ·,-T shcJ.l Ett any time be hela by tha'll as .part of t.he Flmd und.er the provisions hereof"ana to make,consent to or oppose other adjustments of o.nd ch....nges in the capit~l f~~ds or property constituting the t~~st ~roperty;they may exercise any and Fl~rights of subscri~tion ldth res~ect ~o any stocks,bonds or other securities incluu6a in the FunC10 JiliTIC11 FIVE.lJuring the continuCtllce of the tru.sts createo.b~· any provision of this incienture,the principal SUin or StlillS of the ·"rust fund ana the income thereof shill not be subject to or L.&ble 1'or any GuntI'c:..cts~ debte,eng&~ef!\ents,liabiliti.es or torts of the beneficia.ries,respecti.vely» now or hereaft.er marie,cQntractea,incuri'eci or cOiThnitted,.but shell be absolutely , free from the same,and the beneficiaries respectively shall he-ve no power to sell,assign (ir encumber all or any part of the prinCipal sum.or 5UlIJ.S of the trust Fund or their interests therein,respectively,or t.he income thereof," or to antici?ste said income. AHTI(~~&IX.The Tr~stees,in muting any Qistr~bution·of principc:.l of'the F1,1ua.,may ;na!.{E~the sci(j cd.stribution in money or in kind, or p(;.rtly in .llloney ana.p<..;.rtly in kina.•. AliTH":lE ~EV£N.The Grantor shall have the righ:.fro:r.tiJlv~to time to mClke ClQQ-lt:1.ons .to the funo.by ciepositing 1',1tn th';3 Trustees .i:1UcdtionaJ. securities,CCish or other.property,which sha~,be receivea zna tleJ.c.i by the Trustees subject to al~the t~rms 2nQ provisions of this-inaenture,\nth the sune effect uS if soia Ga0~tions hLo.~onstituteu ¥crt of the Fund tit the time of the execution of this il'luenture. shall be irrevvcable by the G)~anto!'o ARTICLE ~INh.The T:~stees or Trustee hereunucr,in their or its sole aisc:retion,m.ay iJa;)'over,~...t .:.ny time or from t.iJll.e to time,to Anne Baker ~eimer,ciaughter of the Grantor,cut of the princip~l of the property then constitutinG said t,.rusl:,li'uno.01'fro,u loans bgcinst~mviclen<.{s upon,or ~roceeQS of the life insur<:.l1ce iJolicie~on the life of IJaviu .P 0 \'iejjuer her:-ein- ~6- .. ........- l_''-if'·.l ,·,1 before ref'errad.to such SlUllS·as may be necessary iiIlU re~u;est.cd by her or by \'',. anyone else in her beht.uf in cuses of severe illness,edergency (fi.ne:ncial or. otherwise)or e.xtraorcJ.nary circumstr~ces,but she shall 110t receive frOill such principc.l [;ums aggregating more thE.n six thoUSiJIlQ Qol_o!'s (~GsOOO)in an~ cw.enU<ir yec..r.The Trustees or Trustee shall liberilly e.....<.ercise itB or tneir discretion under this paragraph. h~TIG1~TEN.The successor or alternate inaiviuual trustee here~ unael'shaL..be U.Grant Miller of Washington~Pennsylvuni<..,in the event of the death or aeclination t.o serv~for any reason of toward 1.Stockaale hereinbefore nomed.There shall always be two co·~trustees,an in<.J..vitiual.QIlCl C:L corporate trustee.Lurj.ng the lifetime of Anne Baker V~eimer she EhcJJ.hE.ve the x·ight ot any ti.'lle 01'from time to ti.me to change either or both the inc!..i:vitiut<~and the'corporate trustee here:!..n nuraeo anti,folloWing the oeath of Ann·~Baker Vveimers Ci majority in interest of the then beneficiaries of,the t.rust cre~"~eQ by this ina.en.ture wh:.:ai....e sui jUl~is m:ly at w'1.y tim>3 or fro~il time to t.ime u;)on f11in.g their reCiuest or election in writing chct!lge eitrw!'or both the in((Lviu.ual "a.."lU corporate trust.ee herein named.iny ~uccessor corpl)rcte Trest'~ena;neQ hereunder sn",li be Co"trust cOmiJClnY or a nCitione:l bO!'Lk s.uthorizea "',0 00 c..trust business;whet.hor locateet in Pennsylvania or els€Mhere,C:.l1Q shall iwr ~a cc;.pitCll , of not less tha.'1 f,r:~,OOO,OOO cud a .SUI'i:Jlus of hot less than ~500~OOO..In the event thCit rlny ehcnge of trustee or trustees is .i1c.ae at any time a:>herein i:Jroviae~,the Trustee 'or Trustees whose services eire aiscontinued Qh~ ef.i'ectuilly trc.nsfcr or ncliv<3r over to its.successor (.r successor:,all the pro~ert..y held in the FUIlU oll.<'\sh~ll"file an <iCCCUl'ltin~of the eUi1i:Lni~tX'.:i.t:i.e-n of the trust in Cl court..of approprie.te jurisaiction• .k.t\TICL1 ELEVEN.All provisions of this inaen:.ure wit.h refipect / to the Trustees Ol:'T:i.~ustee shell api-l1y whe'i:,rH~r one or !lore trusteeG shaj~L be to a trustee sinb~Lr in nlli~ber or trustees plurLl in ~wnb~r~one ,~l such provisions shell inur~to the benefit not only of the Trustees he:re~ll ne:.mea., -7- 411 _ •,'"I C>•• .. .'"'.,r ,, ., but also to s.U successors in said office. hh'TICLili TV~.Kl..VE.The 'l'ruste0s hereby accept this trust and scknowledge that cont~npor&neously'withthe'execution of tilis inaenture they have received from the ()rantor the c:bove mentioneu .securities.. IN viI'TNB..tS WiltliEOF the Grantor Cinci the illaiviuual Truste-;have hereunto set their henos anC1 secl.s and too'corporute 'Trustee has caused this inaen.ture to be executed by its Vice Presiaent anu its co~~orate seal to be hereunto uffixed,attestea.by its Cashier,the Qo.y and yei:ir first above writt.en.Executed in triplicate. Witness, l.J.L1:.S H..illGLj;jm --------~----_._-- ,__I;i_,L_T_l!-_"I_i._i.1._._B_M_',_.ffi_'··_-·_.__·__..:.-.<~EAL) rHE UNIOX~N.hTICNPL BJJJK eli'PI'ITtiBUH.GH By Lj,U~lB~C:~So BELl.-...;;:;;;;..;.;;-.~----Vice Preside:.rt:--- / .( Ro-tl~Bec..B:.Y.-._~__ Casilier COitL~ON'"EA1TH OF r'1illNSYLViJHA WUWfY OF'ALL1GilEl~Y 'On this ~5th cay of August~1936,before me,~.~ot~ry Public in and for soia.County anQ Commor:'Yi13c>.l-ch,co...ne i~AL'I,t;li.H.'BtiK~.h.,of the City of ViCishington,., County of Wc.shington a."1Q Cc.':lliilomlealth of Pennsylvc.ni2,;;.no E:Ckl10\'Jl·~o.,;eo.the foregoing incienture to be hie act hT.la deeri anc.,jesire6 the E&me to be recorded as BUcho ~\I'INES5iny ha:1,Cl.cma.notarial seaL .~jJi.Y LOUISE &'IOLi.l:J.~B.hCH.._ ,.0 --.~jotary p~;)iic- u.y ·Com;ai.ssion eXl)ires ,Febru~=y 5)1~39 ~8- 'n ..J ....I <I_ I>, • ... ....,,.... " COUNTY OF ALLl£(lHENY ." sa: On this ~5th aay of August,1936,before rae,the subscriber,a Notc.ry Public in <:na.for the County of Allegheny ariCA Comrn(lnwe.s.lth of Pennsyl- v~~a,personally ~p~e&reQ h.H.BF.~1rY,Cashier of soia THE UNION NATIONAL :,".. .BANK OF PITT~BURGH,"410,being Quly sworn accorCLi.ng to -law,S&~'S that he VIas personilly present e:..t the execution of the above inuenture ana saw the COffilUOll or corporate seal of saicicorfjoration auly affixed thereto;that t.ne r.ieal so . . affixed thereto is the common or corporate sec.l of so.ia cort>ora:ion;that the inQenture vias auly sealea anG,aelivereci by LhUH,cl~L.c.S•.J?ELL,Vice Presiaent of saia corporation,as ana for the act ana deea of saia.corporation,for the uses B.."1Q ~uri?oses therein mentionec.,anti that the nc•.mes 0:tHis o.ffi:mt a $ Cbshj.er ana of'Lf.UiJ!,NCB &.BiLL e.G Vice Presiaent of s,aid.corporc..tion,s'.lb~ scribea to the above'indenture in attestation of its Que execution and ueliV\3ty,are of t.heir and each of their r-esiJective ha."1Qw::'itings. SWOI'}:i to ana.~ubscribe(l before: ute the Ciay a..'1d.year oforescd.a ,iJA~01Ll:..NB.<'~:;.;H:.-__, ~'lct.<iry ,Public llf.ry Louise Stolzenbach,Notf.try Public ~~Conuission 1xtJires febru~ry ;,1939 COM.:JON~iEhI:fH OF PENhSYLViJ'lIA,: ,5S: COUNTY OF At1~GHE~Y On this.25th 'day of August,1936,before lue,c.tbtary Pu.blic' I1L.'1 anci for the Count~r c.'1Ci Com.'l!o!lwec.lth iiforesaia,C~lle r~L-fj.AhL L •.sTOCKlJJ..LE ,of iiit.Lebe:non Township;Allegheny County,t>ennsyl.Vi.niCi.;o.S Co-trustee under'the foregoing indenture cnu aci\nowleQseu the Sf,llle to be his act,ft!lu Cle'~C1 ena aesires the swne to,be recorQsd as such. / ~.~hrtY LuUl~)t ~'1'C'J...LH\;Dr.CH Not::.r;y £luhlic ;'~CJry Louise StolzETioc:.ch,NotCiry eub.lic lay Com.:;:.is~ion .E.xpires 1"ebruc::ry 5,..1'-;39 -9- p"."",I " .,r .-.-~.~--~.,,, IN THE COURT OF COMMJN PLEAS OF WASHINGTON COUNTY,PEN:.~SYVIANIA ORPHANS'COURT DrvISION NO.311 OF 1970 WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER ADDITIONAL RECEIPTS AND DISBURSEHENTS TO THE TlITRD AND PARTIAL ACCOUNT OF WTI.LIAM G.STEWART,SUCCESSOR INDIVIDUAL TRUSTEE AND THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE UNDER INDENTURE DATED AUGUST 25,1936 SUMMARY SCHEDULE A PRINCIPAL -PERSONAL'IY AUErost 25.1975 Receipts Disbursements Receipts Disbursements Page 3 Page 3 SCHEDULE B INCOME -PERSONAL'IY Pages 3 -4.' Pages 4 -5~ .BALANCE BALANCE NET BALANCE 190,.8.53 77 10',547 52 \37,331 32 37,254 01 180,306 25 77 31 180,383 56 The Balance Consists of the Following: Principal -Personalty Stocks American Telephone and Telegraph Company 1;360 shares Capital American Telephone and Telegraph Company- 290 shares $4.00 Convertible Preferred. Cyclops Corporation 8,489 shares Common E.I.du Pont de Nemours and Company 250 shares Common General Electric Company 334 shares Common General MOtors Corporation 340 shares Common ' Texaco,Incorporated 2,288 shares Capital 3~,300 96 17,072 69 72,334 68 1 00 7,661 03 25,078 75 "',971 71 161,420 82 ;'"•tt •r\,.".a, t., WALTER H BAKER TRlJST FOR ANNE BAKER WEIMER.!: Notes - United States of America Treasury 7.75% $5,000 dated 11/15/74 due 11/15/77 4,986 85 Savings AccoWlt The Union National Bank of Pittsburgh Master Savings Account 13,800 00 180,207 67 , Cash on hand 98 58 . 180,306 25.~ Income -Personalty Cash on hand 77 31 180,383 56 , , -2- ., - ...,.fro '. WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER SCHEDULE A PRINCIPAL -PERSONALTY RECEIPTS Receipts in accordance with the Third and Final Account filed 190,853 77 I I Purchase of Asset- Deposited The Union National Bank of Pittsburgh I Master &vings Account I 6/26/75 9,600.00 , Cash disbursed to purchase above asset Q.600.00 0 00 Conversion of Asset·Without Gain or Loss : 197 5 I June 26 Proceeds maturity -$10,000 .. United States of America Treasury Bills dated 12/26/74 due 6/26/75 9,644.50 Carrying Value 9,644·50 I 0 00 , I 190,853 77 DISBURSEMENTS Disbursements in accordance with the Third I and Final Account filed 10,547 52 I I I SCHEDULE B I INCOME -PERSONALTY . RECEIPTS Receipts in accordance ~ith the Third and Final 30,875 09 , Account filed Dividends -Stocks American Telephone and Telegraph Company Capital 1,360 shares 7/1/75 1,156 00 American Telephone and Telegraph Company $4.00 Convertible Preferred . 290 shares 8/1/75 290 00 Cyclops Corporation CODmlon 8,489 shares 6/30/75 2,971 15 ,, -3-.. '.•0,n ...'::.1'-......."Go""0' I ..~t-'l, .-.\',.•>- •I ,.,t.&' • 0 ...." I .I ,WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER Dividends -Stocks (continued) E.1.du Pont de Nemours and Company Common 250 shares 6/12/75 250 00 General Electric Company Common 334 shares 7/28/75 133 60 General,Motors Corporation Common 340 shares 6/11/75 204 00 Texaco,Incorporated Capital 2,288 shares 6/10/75 1,144 00 .''. 6,148 75 . Interest -Bonds United States of America Treasury Bills Accumulation on ,$10,000 2/12/75 -6/26/75 207 20 Interest -Savings Account The Union National Bank of Pittsburgh Master Savings Account 5/1/75 -7/31/75 100 28 37,331 32 DISBURSEMENTS . Disbursements in accordance with the Third and Final Account filed 29,790 04 Agministrative Expenses 197 5 Aug.25 The Union National Bank of Pittsburgh Accountant's Compensation 163 97 -4- ....... •.-;n-'_, ,........~... .,."... I • .....I WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER Distribution -Payments in accordance with Article One of Trust Indenture dated August 25,1936 I I Amy Anne W.Ritter Payment account Net Income 6/17/75 1,250.00 8/21/75 2.400.00 ;,650 00 Walter B.Weimer Payment account Net Income 6/17/75 1,250.00 8/21/75 2·400.00 :;,650 00 I 7,300 00 37,254 ::n , -5- \ -< •w ---------------- WALTER H.BAKER,DECEASED FOR ANNE BAKER WEIMER (501830004) PROPOSED SCHEDULE OF DISl'RIBUrrON 1/2 Share In Trust For Arrry Anne W.Ritter 1/2 Share In Trust For Walter B.Weimer t:Mean Mean Mean Ledger Market Ledger Market Ledger Market Value Value Value Value Value Value Shares stocks 2/llb5 Shs~2Ill175 Sho.2/llb5 5,000 UDited states of America Treasury 7.75% dated ll/15/74 due ll/15/77 15,b50.48 )),830.00 8,536.35 7,'166.57 36,171.60 90,206.25 .50 ll,945.31 3;830.51 6,648.69 12,539.38 6,035.00 3,985.85 28,171.00 1,360 290 8,489 250 334 340 2,~ far . V&1ue American Telephone and Telegraph Company Capit.al American Telephone and Telegraph Company $4.00 Convertible Preferred Cyclops Corporation . Common E.I.du Pont de Nemours and Co~ Common General Electric Company Common General MOtors Corporation Common Texaco,Incorporated Capital . Notes 31,300.96 67,660.00 680 15,650.48 33,830.00 680 17,072.69 15,533.13 145 8,536.34 7,766.56 145 72,334.68 180,391.25 4,244 36,163.08 90,185.00 4,245 1.00 23,890.63 125 .50 ll,945.32 125 7,661.03 13,297.38 167 3,830.52 6,648.69 167 25,078.75 12,070.00 170 12,539.37 6,035.00 170 ·7,971.71 56,342.00 1,144 3,985.86 28,171.00 1,144 Par Par Value Value 4,986.85 5,139.06 ---5,000 4,986.85 5,139.06 II Savings Account The Union NationaJ.Bank of Pittsburgh Master Savings Account Cash on Hand Income -Personalty Cash on Hand : ( 13,800.00 13,800.00 9,500.00 9,500.00 4,300.00 4,300.00 ·98.56 98,58 29·44 29.44 62,M 69.14 180,306.25 388,222.03 90,235.59 194,1ll.0l 90,070.66 191u lll.02 'Il..JJ:77·31 38.66 38.66 38,65 38.65 180,383.56 388,299.34 90,274.25 194,149.67 90.109.31 19J,..lJ..9__67 .~_.,,'.r.~: "'.,..-~'~. In t4t (!tum uf QLnmmnn JUras uf lIas4ingtnn <!tuum!}. Jruusyluania.(@rp4nns'<!tum Itniswn ESTATE OF No.,_3~1==1-.....lo~f:-=.19"-J7'-l:!0 _ '. Wa1ter H~Baker Trust for Anne Baker Weimer In the matter of the Third and Final Account of William G.Stewart,Successor Individual Trustee and ~1e Union Natio~a1 Bank of Pittsburgh,Surviving Trustee ADJUDICATION AND DECREE And now ,19__,this matter came on for hearing, audit and distribution at this session and testimony taken;and thereupon,upon due consideration ther~of the balance fpr distribution in :the hands of the Accountant is determined to be . $1 0,383.56 -..and the account is accordingly confirmed;and it is ordered, adjudged ond decreed that the said balance be paid out by the Accountant in occordance with the schedule of distribution hereto attached and made a part hereof,unless exceptions hereto be filed sec.reg.or an appeal be taken herefrom sec.leg.. . . SCHEDULE OF DISTRIBUTION .,Balance per account 1 ..Additional debit asked at audit Additional credit asked at audit Balance:_ Deduct Clerk's Costs &Receiptst-.-I .Attorney Robert F.Patton for Buchanan,Ingersoll,Rodewa1g Kyle and Buerger $181.391.30 6,~56.23 . 187,847.53 7,463.97 $180,383.56 William G.Stewart and The Union National Bank of Pittsburgh,Trustees under the Walter H.Baker Trust for Anne Baker Weimer,Share of Amy Anne W.Ritter for further Administration including the~ollowing assets, held in kind and distributed as such at the values shown;having been equalized with cash based upon mean market values of securities as of February 1~,1975:-" 680 shares American Telephone and .Telegraph Company,Capital 15,650.48 / 145 shares American Telephone and .Telegraph Company $4.00 Convertible Preferred 8,536,3414,244 shares Cyclops CO~f"'oA-3_"'n...CJ:lmmon ~~_1,b3 __Q8,~I -cao;=:::=::..,1 ------...::!~:=._..:;-=_~__'..:::::::......1 ---------- i .1 0 ~ ....~~ :J Z ~' n ...p ~ 0 :J'" C (l) ~. :J 3 I 0 ~ I 0 0 ;:;.............. I (l) i ... I t 0...... I ::r I II (l) ~ ~. S~ IiI I I, III I ~.. /\..,,-':",:~."-~...'0 ,.., IIII ! 90,109.31 1~0 BALANCE .50 4,986.85 3,830.51 3,985.85 .4,300.00 69.14 38.65 8,536.35 ,36,171.60 15,650.48 12,539.38 IJ 11"75% tIIII William G.Stewart and The Union National Bank.of " Pittsburgh,Trustees under the Walter H.Baker 'Trust for Anne Baker Weimer,Share of Walter B.Weimer,for ' further Administration including the following assets, 'held in kind and distributed as such at the values . shown;having been equalized with cash based upon mean market values of the securities as of February 11,1975:- 680 shares American Telephone and Telegraph Company,Capital 145 shares American Telephone and Telegraph Company S II C <$4.00 Cororertib1e Pr~~ferred'IC4,1j245-t:sha~s Cyclops ~0rp6ration'I"C~on Jl'1125:shares ~.1.du ;",P,ont de Nemo~~'I~t l::cdC !>.~C 11 lowoi,.,~:.:.0 ""'an ompa~lY,ommon,,'-. ,':1167~sha~s Gener,al Electric comPa~,.'.II .,..~-'Connnon~~,II f~rt ~~l :170;share8'1 ~neral;'ll-foi1rs CorpoH-at~bn '::.--,i 1:'--l'.•"J.-~,l'..'".:,(j').-4...Connnon .'i....I 's 1"44·shares~t~~c_o;:In4:orporatedl\1 ~.11.f!.(,;caPJ;-Eal,.::I Um.tea Stat,~§,o{..A1nerica'Treasury~IINO~S I l~,oQo d~t~~}Jij§i:14 4~e 1~/15/7 ~M Union :-NationaL Bank -of Pl.ttsb rghiMasterS~vlrfgs'Account ~trJ Prlncipal C{sh'1;~~p'. .I.;rl ~:::'t (f)..110me Cash c::iI I=-:.D;I :..I:S,..g: I 2 ....t I:I ~.~1\:1J I ~ o '"t i. .'---------''.-)/----~..-------------, .;:.~. ).. :~. :Fihal~J ~.; \. ~_)'_};'\1 t'j 'r} BaIse!; ~f'T ·1'....,.'1..-...-...., ,, uub"i.crr.c.c ~~',." "0 -,...~ ''7 (it ,~-.~".~I.(t -',•,.,"':6.-.~J. J '..-'...-...-)-~•J~-(",." ;> , "(.) ;..>'.' -.~ ...._t" No~311 of 1970 t,", Account of; ,..t't.>,,'il ; _._---------- -..'..,Hf\bjubir~tinu ::.,:~i ...~.~y~t ~-: ,I r".. ,.r'"'-_, ~.~ I~·~};i,..:..,.... - •.,C} t •j ...... In'-the'matter ofthe 'Third :aricit..."...•...........~(';.., -Cot.-=..r::•.1 "f.. Wil1ia,m G.,'S:q~waI:t,Successor Indiviaual,:Ttu~tee~~and .1,'The '-UrUori National 'Bank of "fittilbbrgh;.'Sufvfving Trustee '..';'.......Under 'Indentu.re dated 'l,.J ::~~'"!Augu"st '29 ,'19:36 "•<'""'."0~~1_:'....~I....;..~ '.""'....Walter'~H~'-,.... '" ,-- '~J t~ \~1'".:i~ )'; t""t ~..."-0; c.",t'",.., ..... t -l (,) :',~. 'Ir:..'.~ '., .f:',,',,..,~~ 'r ;.;.."""r'r j. ..,..'"-tI~~'4 ,:,.> t """ >•• f ~01 ~:., ~..."\(' <D .",1 ,' ..-'(- q '" ..' ...~;I,. !t....."")1"';...').) ..tl "..J"),-, .,...1'-en ~"... .... ·" ~'~,~'~~~..:i >-)•·,~...., ttl ,.: , -i1;.. .....t f 'j f, (.(~.~... ......""',;.~~,~~l (f' J ~~'r ..-..,"J :.JJ." ~U~'l Jl ..."'1 r....•.-••.j t''C,.):....i 'I J "t, rj ~~' ~........... ~ I •.------ · (') ; ~. -.......a.• J ).' F .1 ,.~-....~, '.~!"J ...."10 •.i ~"i '-' --;-.t ",',.~....'·1 ti j~....O'to,~"?-. 1". 0""-f ."'-"::.,".·"-·,........~.'~c.....-,,-~.:..."-'"of _:-.,1 l>'-,·., .'-. ::;¢ ~J .'.'" ",.)~ _.-~-----...._---~-......,.._---_._._-------.._-'----.__.-------_.---_.._- '.'I,,{n,...,I •I <i.'---....-i' :- -' ,j ~~ ••....~2 ~~~9~~-~< ~ IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE No.63-70-311 WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER., CONSENT I,Amy Anne Ritter,being sui juris and one of the two presently vested income beneficiaries of the captioned Trust created by the indenture of Walter H.Baker,do consent, pursuant to the authori~y granted to me by Article Ten of said indenture,to the appointment of Joseph Duncan Kniseley as a co-trustee of the trust share for the prllffiary benefit of Walter B.Weimer. I.l •..,.I J IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: ESTATE OF WALTER H. BAKER, Deceased. ) ) ) :) ) ) ) No.·63-70-311 CONSENT I,Walter B.Weimer,being sui juris and one of the two presently vested income beneficiaries of the captioned trust created by the indenture of Walter H.Baker,do consent,pursuant to the authority granted to me by Article Ten of said indenture, to the appointment of J.Evans Rose,Jr.as a co-trustee of the trust share for the primary benefit of Amy Anne Ritter. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN (Formerly Amy Anne Weimer Ritter) ORPHANS'CO[RT DIVISION NO.63-70-311 OBJECTIONS TO ACCOUNT CODE OBJECTIONS TO ACCOUNT FILED ON BEHALF OF: ANY ANNE ~EIMER LEVIN M COUNSEL OF RECORD FOR THIS PARTY: RICHARD DiSALLE,ESQ. PA.1.D.#05444 ROSE,SCHMI~T,DIXON & HASLEY FIRM #043 900 OLIVER 3UILDING PITTSBURGH,PENNSYLVANIA 15222-5359 (412)434-8'500 .T .'~I·', .~~-- IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,?ENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H~BAKER FOR AMY ANNE WEIMER LEVIN NO.63.-70-311 OBJECTIONS TO'ACCOUNT AND NOW,comes Amy Anne Weimer Levin,Income Beneficiary under the above-captioned Trust,by her attorneys, Rose,Schmidt,Dixon &Hasley and Richard DiSalle,and objects to the First and Final Account {Sic}filed by The Cnion National Bank of Pittsburgh,Trustee,in the above-captionet matter for the following reasons: 1.The termination fee charged by Trustee,The Union National Bank of Pittsburgh,in the amount of $1,800.00 is improper since the above-captioned Trust does not terminate but, instead,continues on for the lifetime of the income beneficiary,Amy Anne Weimer Levin.The occasion for the present accounting is simply the voluntary resignation of the Trustee,The Union National Bank of Pittsburgh.{See Copy of Letter attached hereto and marked as Exhibit'"A".}Such a termination fee is inconsistent with the expressed terms of the fee agreement controlling this Trust.{See Copy of Fee Letter attached hereto and marked as Exhibit "B".} I ..~. 2.In the event it is held by this Honorable Court that a termination fee is permissible by Trustee,The Union National Bank of Pittsburgh,the proper fee in this matter is $844~24 not $1,800.00.(See Copy of Letter attached hereto and marked as Exhibit "C".) DIXON -2- Union National Bank ---...,j December 14,1983 Krs.Robert B.Levin 3537 Royal Pal~Avenue Coconut Grove K1aml,FL 33133 h re I Anne A.DUl'lcan-Babr -Trust -'50-1630-00-8w.Baker for Anne V.!mGr -Shua of Amy Anne lAv1n -150-1830-10-% W.Bak~r for Amy Anne Levin -tUQ-2991-OO-o Deal'Mrs.Levinl Upon rec~lpt of your letter dated November 23,1983,d1sa~prov1ng our request for a·fee increase in the 150-1630-00-8 and 150-1830-80-2 Accounts,I met with our Trust Administrative Committee where it vas determined tbat this Sank could DO lonser continue to economically adm1ni&ter these Trusts at the current lev~18 of COGpensatlon.As a reault,it was concluded by the Committee at ita'meeting on December 6,1983,that th1.a Bank~l re9~from ft"position as Corporate Trustee for all three Trusta. .~-~l!A"tlP!IS'»¥&a¥iQi In this regard,1 have directed our Court Accounting Department to proceed to prepare the appropriate accountings,which w111 be filed in the Cou.rt of Comoon Pleu of WaShingto.n County,Pennsylvania,Orphans'Court D1vi810n'~~#f!!1.J~l~bi [l_ex~~~.: At that time.Couuael for the Corporate Trustee vill submit a p~lon~tE~t to respectfully dischar&~this Bank 8&Co-Trustee and relieve it fro~any further responsi- bility with respect to the administration of these Trusts.Thus.as soon as the account- ings are completed end filed,COp1QD will be made ava1lable to you and tbe remaindermem of the Trusts. Very truly youra, $"~. GllbertL.Baal 'lee Preelc1eDt GLH:1aac eel Evans 10le,Jr.,Is•• James w.t1amer,isq. 150-1630-00-8 150-1830-10-2 'BO-2991-OO-4 EXHIBIT "A" COpy ........... Augu~t 25,193" l~ro Yl"lt~l'H.I>1:r.?r Unh'~r5"1 steel Cl~:~?~ny Dl'idet::vil:'c,Pc. ~y de~r Wry1 ter:- Iu c:lT1!le~ticn rd th th!'!cst:·.'bJ.ir.h::E:.it 01 '!.t::."'.l:1t ~-;:l~!"~ undE;r J!:,.Ec1-;f:'l'd 1.~t·)c~d·.2~!·n~~T;~~U:-~::'(;:1 !;~ti~:1·.·l D~!;}:o~'?.:tt::b~:-bh nrc n;-:I"!(;d f,S ti."ll~·~~~:i fo!':.co:-rt':ill fU:l:J.t.:>b~h-=l..:i'Oi."t~1~'J.::..~of "Iou,,: d~~uJhtGrJ it....r.a B:--;:t'i."~';dui1r,tl:7 ;;~r·.~·."l.::l~~·o~t~:"lt t1)J r~~J i.."1.c:>nn:~ction ".ith this tr~~ri;r.ccou."lt -;.:i.ll b~~.S iollo',";2:- (1)D'lerc t~}(~lnV~::l4,;.~:!.lt3 -::re r:l::?~::up l:'l·g.?ly of !'''::li1~~ o~~p.d D~curiti~~,tho fee ~f the ~rp~r~~~trusta9 y,ill be :~u~on t~o N:lnunl Gro os incor.~? ...-_..', ..'. , It:'(.. r. (2)l'ihC!l ~id if C B:110 of f:·=rl.ly o~'7!€J [;!:'C'.lrlti?;:;i~ rol\~C end the f'J.."ld~rE'i:lV(,3t~d i.."l "n ~~)provi':d invf:st~t:'nt ::::or th~t~".4~t, tho CO:J~cn9'.1tion of t.'1a corpoJ~..;.....t~tru~'('C3 \i.:i.ll be J~'~1:;:'0:1 t.he ~:n..iu~l gross incc:le. t~)In tho cvcnt th'lt the c')-trustE':?c1~ould not act t\D.d tho c..'ltire l"cq(\nnibilitl d~vo1ves u?on tho b;-,n~afl :'ol~t~3t':D end inv~!!t~e!lt b·~o':~dQ in r.p~~"Ovej 1nv~smc."lts for the tl'ust,.the (;OL'\~~ sstion ".ill be 5~upcn t:19 t>.."lnu~cross inco:ne. (4)Upon the t~t'cin~t~Lon of the trust,th~eo~p;m.Mtion of the baLe upon principr:l ,,;;i11 be ~-;5 b~~cc u~:>&1 the 7"'.lt:~~:\t ,,;,ic!1 t;l~ ~ecuritie~~ra pl~csd upo~o~r·b~ok3 ~t th~tic~th~t:~3t 1~est~~li~~~1. (5)In th·~cvrot tha b~crici:!l1.C::l of't~c tr'.lst eho'.1ld rf;'il'.l;lVR th",corf>or,:'lt~fid'~ci:'.:::!n ~:"CG th::r':'in ~d =''':~;1t1t:l:1 '~n!,)t~,"r b·.:\~ or t:-\:~t c~:~;,:;~:,"~~~.t~~Et~~1 t·!1-:,r~:·~(.'1't,~J~~h··~1k i1~~n ~-r::1cip:'":l .-Lt t'.l:) rnte ~trove ~t,ipul~~tud wuc.l b s ::.?POl'tiO~·l;:d \lpOn t!-.~~)'~~i:;or L'1~1 :..--:~:t.~1 Qr tl.m~t.'l~tn:~t.h:!1 ~ti~tcd c'),,-!',:,.roo t')wa tot··<lt.i:Jc th;,;ti.'"Ust L:it;:;t b~. 8r.poct£:d to cont~HUC.-,.,1 ".--"'--.~n.~.o._ 5,..,~w..•••_._...---.. II·v~\~~_.,.. 1::~.~.••.~_•.•~:". mm/Gr:A.~:p;~•.~'",:~.,;:,.... \ .<J,?>c EXHIBIT "B"~~ttf~.•·~.~~••_.•.••• •'..'.....:3~·_.:.'f'::.;....~,;,..,..~'~1--"'t:\~!ii_.~•••:•••••..••. -~~~..",.F·~=<r~·~'~~~~~~~~~-----_ .1J..'I. The Union National Bank nf Pittsburgh Post Office Box No.837,r'urgh.Pa.15230 4126448328 ' Union NationalBank .. May 16,1984 Gilbert L.Haag I;lce President .......... Evans Rose,Jr.,Esq. Rose,Schmidt,Dixon,Hasley, Whyte &Hardesty 9th Floor -Oliver Building Pittsburgh,Pa.15222 In re:Anne A.Duncan-Baker Trust _.1150-1630-00-8 W.Baker for A.Weimer -Sh.of Amy Anne Levin -1150-1830-BO-2 W.H.Baker,Dec'd.for Amy Anne Levin -IIHO-2991-00-0 Dear Ev: Upon receipt of your letter dated May 7,1984,regarding your comments with respect to the accountings for these trusts,I turned a copy over to our Court Account- ing Department for their attention.I was subsequently advised that they have noted the suggested corrections .tn9 w1J1 ~J~thalOot...Jl~~J;~J.§.!£IlbeJ:U~!D"",t",Q"li,,,,,~~n . and/or sugg1e~~~lats_~~~~~.There seems to be some question at this end on the~.gpro.pa&.t1Lway.....g1J'~~31}Umng...t~..vcco.unts as outlined in the first captioned item in your letter and perhaps we can reco~i1~is question at our meeting on Friday, May 18,1984. With r~<;..t~tter.~g..I]p..J.:l~~~:hg~o...~__~-h~~ank'.scs;jl~rg~~?the indicated fee for the trust under the Will of Walter H.Baker represents the adjusted deferred fee on the principal value of this account since the inception of the trnst.In those accounts where the annual fee on the principal value was deferred,compensation at termination is calculated on the basis of the current annual percentage for the number of years the trust was established <i.J.kJ:a~~a£l,2J1~~.....,.ER£~l;."=,,q.;~!_b-!.;-tY.;iS'.l;1J.;,,y,$~~j and this total percentage is thgp~a~~~_~~~~:~:~~?~~l~~~~?~~te~~2~Eio~unless an adjustment is deemed appropriate.. For your information,this Bank's annual principal charge in accordance with the present fee schedule is .0028%on the first $500,000,.0025%on the next $500,000 and .0015%on the next $1,000,000.Thus,based upon the market value of this trust as9'Re,c,emh@.&..,l£t.m.l.~§).or!.,,~hichwas $921,642.07,the deferred principal compensation based on the above formula would have approximated $87,700 C.0028 x 34 .=9.52%x 921,642.07 = $87,740.33).December 14,1983,was the date our Trust Administr~tion Committee directed the resignation of this Bank as Corporate Trustee.. In view of the fact that the Courts have generally indi=ated that the maximum lU'incipa1's"'m}p.~p.-~&H9~"g~fJl!HF.~5L~~t,.~~:~~~.~._~~_app.fP~.~~~t~ly.6%,.th~.J2e was then cai~ 1ated at this rate or.j~~~~q.Then,since consid~ration has a1~ys ~een given in the Baker Trusts to the large holding of Cyclops Corporation stock,.t_h.e__f~e~e~a~s~~~~~tl~~~i~ the ~~,<;~.~!-2t~.~~_~~~,.,det~~~n~dat 3%,.C?~t~~.m~lI:ke~~~lu~of Cyclops,w~lich appro~i~~_~~~,.=.... Wl.z,,9...Q~Q.j~p~...~.~0H.t~e·balance for a total ~e.e of $3,4?9.0Q:_ ~•••~•••- _1-.__ EXHIBIT ltc" ,~. ·1.'."...~.--,. :The Union'Nali~nal Bank of p'lispurg~.>:::'.'~;:..',:~-' -.',,'.-CONTINUATION SHEET .•-'_.• ..~~,......' ."--+:..............,. .. ~..~••.,..r _,1'·..~.....:, .'. Evans Rose,Jr.,Esq. Page II May 16,1984· With respect to the other two trusts,our fee at termination is limited to. 2%on the value of .the.securities at the time the accounts were established.'Accordingly,.~""~~~;"Cf~_":",-,,::,:"",=,,::~,,,;.-_;,:,~-,:r.t.""~~.. .considering that the value of the securities in the #50-1830~BO-2accountat the time this trust was.established was ~~~our principal fee was calculated at·$844.24. In the Duilcan-B!1ker trust the value of this account back in 1935 was approximately. 1§.!1?~and as a result,our fee was calculated at ~ If you have any further questions regarding these m2tters,please feel free to contact me.Otherwise,we.can discuss this in greater detail,if deemed appropriate, at our'scheduled meeting •.' :Very truly yours, ~ii~Gi1bert~g Vice President GLH:kmc cc:Mrs •.Robert H.'Levin James W.:Ummer,Esq. #50-1630~OO~8 . #50-1830-BO-2 #HO-2991-00-0.. j IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ORPHANS'COJRT DIVISION NO.63-70-311 AFFIDAVIT O?SERVICE CODE AFFIDAVIT OF SERVICE FILED ON BEHALF OF: AMY ANNE WEI~£R LEVIN COUNSEL OF RECORD FOR THIS PARTY: RICHARD DiSALLE,ESQ. PA.1.D.#05444 ROSE,SCHMIDT,DIXON & HASLEY FIRM #043 900 OLIVER BUILDING PITTSBURGH,PENNSYLVANIA 15222-5369 (412)434-8600 " I IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) NO.63-70-311 AFFIDAVIT OF SERVICE COMMONWEALTH OF PENNSYLVANIA COUNTY OF ALLEGHENY ) ) ) SS: Before me,the undersigned authority,personally appeared Christopher F.Farrell,who,being duly sworn according to law,deposed and stated that he mailed,by first class U.S. Mail,postage prepaid,notice of the hearing on the Petition For Change Of Situs,filed in the above captioned matter by Amy Anne Weimer Levin,to the following parties in interest,addressed as follows: David Michael Ritter Route 2 Box 101 Newberry,Florida 32669 William Jeffrey Ritter 6907 Moore Street Stuart,Florida 33490 Susan Duncan Ritter 6907 Moore Street Stuart,Florida 33490 Andrew Duncan Ritter Route 2 Box 101 Newberry,Florida 32669 Christopher Burns Ritter c/o Damon G.Douglas Co. 245 Birchwood Avenue Cranford,New Jersey 07016 Anne Elizabeth Ritter 7026 South Claiborne Avenue Apartment D New Orleans,Louisiana 70118 Jonathan Baker Ritter 940 West Brevard Street Apartment C.3-4 Tallahassee,Florida 32313 As evidence of such mailing,attached hereto are Consents to the proposed Change of Situs filed by six of the above named parties in interest,as well as a copy of the notice letter to the remaining party in interest. Chif:S()pher F.Farrell Sworn to and subscribed before me this ~~ day of November,1984 • .~c;i~..:,~~NOtary PUbliC "ANN It "CERNY,Notary Public ?Pittsburgh,Allegheny County.Pa. My Commission Expires Aug.8,1~33 -2- IN THE COURT OF COMMON PLEAS OF WASHINGTON COUN~Y,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) CONSENT NO.63-73-311 I,D.Michael Ritter,being a .contingent beneficiary of the above referenced trust,do hereby aver that I have read and understood the Petition For Change of Situs =iled herein by my mother,Amy Anne Weimer Levin,and I join in the proposed Order of Court directing the situs of such trust to be transferred to .Florida. /C?~~-Z!Z;D.Michael Ritter v IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) CONSENT NO.63-7)-311 I,W.Jeffrey Ritter,being a contingent beneficiary of the above referenced trust,do hereby aver tiat I have read and understood the Petition For Change of Situs =iled herein by my mother,Amy Anne Weimer Levin,and I join in the proposed Order of Court directing the situs of such trust to be transferred to Florida. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) CONSENT NO.63-70-311 I,Susan D.Ritter,being a contingent beneficiary of the above referenced trust,do hereby aver that I have read and understood the Petition For Change of Situs filed herein by my mother,Amy Anne Weimer Levin,and I join in the proposed Order of Court directing the situs of such trust to be transferred to Florida. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) CONSENT NO.63-7J-311 I,Andrew D.Ritter,being a contingent beneficiary of the above referenced trust,do hereby aver that I have read and understood the Petition For Change of Situs filed herein by my mother,Amy Anne Weimer Levin,and I join in the proposed Order of Court directing the"situs of such trust to be transferred to Florida.L rZrL Prztt:. Andrew D.Ritter ..- .:..:..."'- IN THE COURT OF COMMON PLEAS OF WASHINGTON COUN~Y,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN } } } } } CONSENT NO.63-70-311 I,Anne E.Ritter,being a contingent beneficiary of the above referenced trust,do hereby aver that I have read and understood the Petition For Change of Situs filed herein by my mother,Amy Anne Weimer Levin,and I join in the proposed Order of Court directing the situs of such trust to be ~ransferred to Florida. J { (4tU"g;-Q2,'tt-c/:=:.....-_ A e E.Ritter IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) CONSENT NO.63-7~-3ll I,Jonathan B.Ritter,being a contingent beneficiary of the above referenced trust,do hereby aver that I have read and understood the Petition For Change of Situs filed herein by my mother,Amy Anne Weimer Levin,and I join in the ?roposed Order of Court directing the situs of such trust to be transferred to Florida. I ( LAW OFFICES OF .VITB lIOCI IS7S .YB IITREBT.M.W. W.....KINGTON.DC .......&_,._uoo lI17rTB lNO___AlS.AIOe.C31fTBR Drraorr.HI ...... .1.'"'-11111 ROSE,SCHMIDT,DIXON &HASLEY 900 OLIVER BUILDING PI'ITSBURGH,P A 15222 412/434·8800 ....NOIITH 'rHIRD .TIlB8'T ."ITS 800.MARY .ACHII .VILDINQ HAII.IS.VRGo PA 17101 '17'.......11 .tJl~ao. KlLLC'B.ArI'c.JIITaR WASHINGTON.PA IN01.1.'...._ WRITER'S No.412/434·8675 CERTIFIED MAIL RETURN RECEIPT REQUESTED October 12,1984 Mr.Christopher B.Ritter Damon G.Douglas Co. 245 Birchwood Avenue Cranford,NJ 07016 Re:Trust Under Agreement of Walter H.Baker Trust Under Will of Walter H.Baker Trust Under Agreement of Anne A.Duncan Dear Mr.Ritter: On November 9,1984,at 11:00 a.m.,a hearing will be held in the Court Room of the Honorable Thomas J.Terputac, Washington County Court House,Washington,Pennsylvania,on the Petitions of your mother,Amy Anne Levin,to appoint Northern Trust Bank of Florida as corporate Trustee of the above referenced Trusts,and to change the situs of such Trusts to Florida.These Petitions have been filed by Mrs.Levin to fill the vacancy arising from the resignation of the existing corporate trustee of the Trusts,The Union National Bank of Pittsburgh,and to change the jurisdiction of the Trusts to a forum more convenient to most of the trust beneficiaries. As a contingent beneficiary of the TrustsJ you have a right to appear at the hearing to apprise the Court of your position •with respect to the aforementioned Petitions.Should you like to exercise this right,please advise me and I will,in turn,formally notify the Court to insure that you will be heard.Also,should you require directions to the Court House,I will be happy to provide the same.If you would like to consent to the proposed change in the situs of the Trusts,you may simply do so by executing the enclosed consent and returning the same to me. --4(, ROSE,SCHMIDT,DIXON &HASLEY ) Mr.Christopher B.Ritter October 12,1984 Page 2 If you have any questions concerning this Not.ice or the Court Hearing,please feel free to contact me. Sincerely yours, Christopher F.Farrell CFF:jmc Enclosure RECEI~T FO'R'CE~TIFIEDMAIL NO INSURANCE COVnAGE PROVIDED- NOT FOR INTERNtlTIONAL MAIL ~•SENDER:Complete items 1,2,3 and 4. "~Put \lour address in the "RETURN TO"space on the 3 reverse side.Failure to do this will prevent thiscard from ~being returned to you.The returnreceipt ftlll will provide ..you the name of the penon delivered to and diedate of ~delivery.For additional fees thefOllowingl8fVlcas are ~available.Gonsult postmaster for fees and check Qax lesl<for service(s)requested.....I ,.~Show to whom.date and address of delive'v. Col f., P 518 327 751 2,0 R!lStricted Deliverv.(See Re~erse) ,Sent toIIChristooher B Ritter Street and No. )Damon G.DO·.lq1as Co. I P.O.,Stafe and ZIP Co·:le,Cran ord,NJ 07016iIIPostage$ i I Certified Fee Special Delivery Fee I I I Restricted Delivery Fee Return Receipt Showi'9 to whom and Date Oeivered Return Receipt Showing .0whom, M Date,andAddress of De iveryco0-TOTAL Postage and Fees-$ .D'"Postmark Dr O.te~ 00co...., e0~ (I) Clo IfI, I IArti.cle Number4.Type of Service: 3.Article Addressed to:Christopher B.Ritt~~ pamon G.Doug las Co9~ 245 Birchwood Avenue Cranford,NJ ~7?16 Always obtainsignature of addressee or agent and DATE DELIVEReD.". .0 Registered 0 InsuredJt]Certified 0 COD P 518- 3 27-7 51oExpressMail o 5............~i xg;6. -4n x ~7.Date of Oaliverv -4il'i>~==::::-~::=~m;iF"!7===~~cn:~~I'l""""-Iz :Dp; III:;-4 ........~---.;,.J.. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE:WALTER H.BAKER TRUST FOR ANNE BAKER WEIMER, SHARE OF AMY ANNE W. LEVIN (FORMERLY AMY ANNE W.RITTER) NO.63-70-311 ELECTION TO TAKE IN KIND NORTHERN TRUST BANK OF FLORIDA,SUCCESSOR CORPORATE TRUSTEE UNDER THE WALTER H.BAKER TRUST INDENTURE DA~ED AUGUST 25, 1936,TRUST FOR ANNE BAKER WEIMER (FORMERLY AMY ANNE"W.RITTER), do hereby elect and agree to take IIIn Kindll from EVANS ROSE,JR., SUCCESSOR INDIVIDUAL TRUSTEE AND THE UNION NATIONAL BANK OF PITTSBURGH,SURVIVING TRUSTEE,the following: Stocks 83 shares American Informatlon Technologies Corporation,Common 833 shares American Telephone and Telegraph Company,Common 83 shares Bell Atlantic Corporation,Common 249 shares Bell South Corporation,Common 5,000 shares Cyclops Corporation,Common 375 shares E.I.duPont deNemours and Company,Common 334 shares General Electric Company,Common 86 shares International Business Machines Corporation,Capital 83 shares NYNEX Corporation,Common Exhibit IIB II Carrying Value $2,492.98 ....- 6,899.12 I.--'" 2,530.18 3,264.38 28,403.29 .50 3,830.52 6,155.02 2,374.22 Stocks (Continued) 83 shares Pacific Telesis Group,Common 83 shares Southwestern Bell Corporation, Common 1,144 shares Texaco,Incorporated,Common 83 shares U S West,Incorporated,Common Bonds $40,000 Norristown,Pennsylvania Area School District 6.70%dated 3/1/80 due 3/1/90 Temporary Investment $300 Federated Automated Government Money Trust (Treat as cash) Cash The foregoing is balance subject to payment of the following fee: Buchanan Ingersoll Professional Corporation Attorney's fee $2,141.48 2,289.05 3,985.86 2,157.06 40,000.00 300.00 10.56 $106,834.22 1,300.00 $105,534.22 this IN WITNESS WHEREOF,~eunto set my hand and seal ~~day of ~~,~984. BANK OF FLORIDA ..:::..--=---...._fl_""1_J-__-1'-=--=--=--:..-=-__(SEAL) Vice President &Sr.Trust Officer -2- • IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION j IN RE: TRUST UNDER AGREEMENT OF WALTER H.BAKER FOR AMY ANNE WEIMER LEVIN ) ) ) ) ) CONSENT NO.63-70-311 I,Christopher B.Ritter,being a contingent beneficiary of the above referenced trust,do hereby aver that I have read and understood the Petition For Change of Situs filed herein by my mother,Amy Anne Weimer Levin,and I join in the proposed Order of Court directing the situs of such trust to be transferred to Florida. j .f IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA J' WALTER H.BAKER TRUST ORPHANS'COURT DIVISION NO.63-70-311 PETITION SUR AUDI~ OF EVANS ROSE,JR., SUCCESSOR INDIVIDUAL TRUSTEE AND THE UNION NATIONAL BANK OF PITTSBURGH,SURVIVING TRUSTEE "CODE "--------TRUST UNDER INDEN~URE PRESENTED ON BEHALF OF WALTER H.BAKER TRUST COUNSEL OF RECORD JAMES W.UMMER,ESQUIRE PA.1.D.#16428 BUCHANAN INGERSOLL PROFESSIONAL CORPORATION FIRM #038 . UNITED STATES STEEL BUILDING 57TH FLOOR 600 GRANT STREET PITTSBURGH,PA.15219 (412)562-8923 (412)562-8800 PETITION SUR AUDIT IN THE ORPHANS'COURT OF WASHINGTON COUNTY Estate of Walter H.Baker Trust For Anne Baker Weimer, share of Amy Anne W. Levin (formerly Amy Anne W.Ritter) Filed at No.63-70-311 Fiduciary Evans Rose Jr., Successor Individual Trustee and The Union Nat~onal Bank of Pittsburgh,Surviving Trustee Place of record of appointment Clerk of Orphans'Court of Washington County, Pennsylvania Date of trust August 25,1936 If there have been former accounts filed in this estate,list: No.413 of 1960 O.C.First and Partial Account (Distribution of apportionable items considered to be distributable as income) No.311 of 1970 Second and Partial Account (Appointment of Successor Individual Trustee) No.311 of 1970 Third and Final Account (due to death of Anne Baker Weimer,Trust divided into 2 trusts) Reason for filing this account is the request of the Corporate Trustee for permission of the Court to resign as Cor?orate Trustee and to permit the life tenant to petition the Court for transfer of the situs of the trust to Florida and approve the appointment of ~Successor Corporate Trustee. All persons having any interest,vested or contingen~(including claimants),in the fund now before the Court,with the nature of their interests are: Amy Anne Levin,life tenant Children of Amy Anne Levin (remaindermen)(all are sui juris) Michael Ritter Jeffrey Ritter Miss Susan Duncan Ritter Christopher Burns Ritter Miss Anne Elizabeth Ritter Jonathan Baker Ritter Andrew Duncan Ritter All of said parties have received notice as required by the Court Rules. 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: Amy Anne Levin,life tenant of the trust,is a resident of Florida.Your petitioners have been advised by letter dated June 29,1984,of Richard DiSalle,Esquire,of the intent of Amy Anne Levin,to request the transfer of the situs of this Trust to Florida.Since the time that your petitioners received said notice of the intent to request the transfer of the situs of the Trust to Florida,petitions for change of situs and designation ,of successor trustee were filed in Orphans'Court of Washington County, Pennsylvania,by counsel for Amy Anne Weimer Levin,life tenant of said Trust. Balance for distribution per account,Principal $103,234.22 Additional debits not shown in account: See Exhibit "B"Attached Principal -Personalty Income -Personal $2,300.00 9,145.14 Income $0.00 Additional credits now shown in account: See Exhibit "B"Attached Principal -Personalty Income -Personalty Total additional debits $0.00 9,142.59 $]1,445.14 Total additional credits -2- $9,142.59 Balance for distribution Principal Income Total $105,534.22 $2.55 $105,536.77 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:See Additional Receipts and Disbursements -Exhibit IIC II for listing of assets held in kind.Election to take in kind is attached hereto as Exhibit "B". Set forth accountants suggestion as to manner and fo~m of distribution to be made,awards to be stated in proportions unless specific amounts or items are designated by instrument under which estate is being distributed: To:Evans Rose,Jr.,Successor Individual Trustee and Northern Trust Bank of Florida,Successor Corporate Trustee under the walter H.Baker Trust Indenture dated August 25,1936 Trust .for...Anne Baker Weimer, Share of Amy Anne W.Levin (formerly Amy Anne W.Ritter) Balance for further administration and accounting: Principal -Personalty Stocks 83 shares American Information Technologies Corporation, Common $2,492.98 833 shares American Telephone and Telegraph Company,Common 6,E99.12 83 shares Bell Atlantic Corporation, Common 2,530.18 249 shares Bell South Corporation, Common 3,264.38 5,000 shares Cyclops Corporation, Common 28,403.29 -3- 375 shares E.I.duPont deNemours and Company,Common 334 shares General Electric Company,Common 86 shares International Business Machines Corporation,Capital 83 shares NYNEX Corporation, Common 83 shares Pacific Telesis Group, Common 83 shares Southwestern Bell Corporation,Common 1,144 shares Texaco,Incorporated, Common 83 shares U S West,Incorporated, (Shown as United States West,Incorporated)Common Bonds .50 3,830.52 6,.155.02 2,374.22 2,141.48 2,289.05 3,985.86 2,157.06 $40,000 Norristown,Pennsylvania Area School District 6.70%dated 3/1/80 due 3/1/90 40,)00.00 Temporary Investmen~ $300 Federated Automated Government Money Trust (Treat as Cash) Cash .300.00 10 •.56 The foregoing balance is subject to payment of the following fee: Buchanan Ingersoll Professional Corporation Attorneys'fee Income -Personalty Cash -4- $106,:334.22 1,300.00 $105,534.22 2.55 $105,536.77 .' " QBlli r.Opy Clliiilr:P.L J,2i;W~~':il mru !~VA:;U THIS JllDmnUIill MADE'this 25th day of JlllgUSt,1936,between fa,Ll'FJ{H.DiJa::n.of the City of Washington,.l1ashington County,Pennsylvania (liereinafter'callec.thfl .'.,, IIGruntor"),first pnrty,and ~Di':.A;"J)L.STQCKDJ.LE"of Mt.Lebenon TO','!TIchiP, , ,Allegheny County,Pennsylvania,lmd THJ<~mUOH lillTION.PL EAllK OF PIT'J'SRUJ-:Gll,a corporation oreanized and existing under the l~us of the United States of America,as Trustees (hereinafter culled the UTr~steesU),~econd p~rties, I:ITi'lESSETH:"' 'I'hat'the Grantor,in consideration of one dollar (~;l)nev!!:c.id I, to him by the Trustees,doen hereby assign,transfer,sct over end deliver a.'1t.o the TruSt.ees one thou:mnd (1,000)shures of the r,referred cap:tal stoc:~cf Universal Steel Co~p~·. l>.RTICLE OiIE.The r.:cove mentioned stock ~nd r:.ny scct:riti.l'S 0'" rroperty that m.:l~r be substituted therefor as herein prOVided e.re hc.rei'-.f..l't"r referred to collectively as the "Fund", The Fund shall be held in trust as a trust fund,ir.v~st~d ~cd reinvested by the Trustees,subject to the provisions hereinafter cont~ined, wld they shall col13ct the income thereof ~nd,after deductin&thererr~m ~l expenses incident to the manngeml,nt of tho trust and the compen:mtion of''~l:!c Trust-Fles,shall pa~''the net income as follow/):(a)so much of the i~ccm€as shall be necesse.ry shall be used annually in the paymcnt of premiums on a polie::or polici"'R of in~ura;1ce in the aggregate cum of one hundred th:m5:<i1d. dollars (~lUU,(;CJO)taken out or to bl:!ttikt::n out by the Tru'stees on the life l:f fu...id P."'eimer,Jr.,in s\leh com?<lJl)'or com;::ar.ies as n;zy b'l selectpd ':'j'the Trustees hore~er <:nd \'Ihich policies Rhall irrevocuhlr be m~de p:!.yeblE'to A nne Duker \'ieimer,':Iif.;cf,s~id D:':",id ?Vielmer,Jr.,,:/ith the chilor!'n 0:'~;<d:i J.nnc Buker \'!cill·'::r irrcvocubly ne:.rr.c<l £IS contin;;ellt bend:icic.ries thprl'in,aud (b)the r·clD::lil'.der of the net income arising at lUlJ't:iJne during the our:;ti·)n - 1 - Exh i bit "A ,. " .. ..' of this trust shall be paid not less frequently than qUllrter-yearly to the daughter of the Grantor,Anne Baker Vleir~er,during the period of her life. Upon the death of Anne Baker ~eimer aforesaid,the Fund shall be e~ually ·1! ".:. .~ divided into as many parts as there arc children of Anne D~e~Weimer surviving her,and n separate trust with respect to each part slwll be continued for each of said surviving children of Anne Baker Weimer.From the net income arisin~from each of said separate trusts for the surviving children of An~e I Baker feimer shall be paid an equal proportionate 'part of the life insurfincE .".prerriums on the policy or policies on the life of ,David P.Weioe~,Jr.,as sforeud.d,end the rer.:n.i.nder of tho net income fr~r.l cnch cf said se;)l;:J:·a~.E:. trusts fo!"tl:e I!\'.rviving children of ilnne Dol,er Weimer shell be paid to each child respectively of Anne Baker Weimer,the beneficia!)'of said respective trusts,not less frequcntl~'thc.n qunrter-yc:ar1y for.and during the period of his or her life.Upon the dea~h of each of said children of Anne Baker tcimer, respectively,the trust as to mlch child shall terminate end the Trustees shall therc;;upon pay over (..rid deliver to the .i.s<;ue of said child,in c'lusl .. parts,.the property then constituting said trust estate for hili or her bcnC?:it, .. together with ell accumulated or accrued income thereon,free from ~l trusts, absolutely and in fee simple.In dp.fuult of issue of S1\3'child of Anne B<..k2:t' Weimer survi·...ing at the death of said child,Said child'I>tru~t property si't.=UJ. continue to be held in trust by the Trustees,in equal parts,for the sisters and brothors of said child so deceesed,subj~ct to the provisions of this ind€'nttire.In dei'ault of issue /:l...d 'surviving sisters .:md brL,t.ll",r:"of oaid child of Anne BakEr Weimer so decen~en,the property hp~d in trust for s~id ohi1d of hers so deceased shall be paid over &lId delivered to t:~cir r,l1::t of kin of thG 'Jlood of Anne B!!.l<P.T rip-imer as by the lal'/s of the State of l'e:l:l~·lv:lni.~ lVould have been entitled to the soro..if said child of Anne Dc:ker ii"€itlcr h"c. been legally seized and posseosed of his or her respective share of ~uid Fund in his or her own right nnd had died intestate,and for this pur~se said -2- " ...•. :.-.'::; ;: ~~;-=:.•. ---------~. , i...~'" .'.....~_....., ., children of .Anne Baker Weimer shall be considerEd citizens of Pennsylvania without regard to the place in which they shall reside at the time of his ~r her dcuth.As to any child or Anne Baker Vieirner who may be born after the date of the death of the Grantor herein narned,any property held in tn\st for :laid child hereunder,toe;ether with all accwnulated or accrued income ther.eon, shall be paid over and delivered to said child,free from all trusts,absc- lutely and in fee simple,~hen said child shall .have attained the age of twenty-one (21)years,and the trust as to said Ichild shall then be termir.attd• . I If any property is held in trust for any beneficiar.r hereunder or shall gc •I to persons who :lhall be less than tlienty-one (~)years of I:ge,the income therefrom,or so much thereof as shall be.necessary,shall be paid over b~ 5aid Trustees for the maintenance,education and support of ruch mino~s. ARTICLE TriO.All dividends payable Tilth respect to any po:icy or polich's of insurance on the life of David P.l'leiJller as herein prc.vid.€d for shall be disposed of as the Trustees in their diecretion I1lElY determine, '~"..';,..,.....~: .} that is to say,the diVidends ~ny be used for the purchase of J~id-up :~:,. additional 1ile insurc.nce on the 1ile of David P.Weimer or the dividends Ii'.ay be received in cash and paid over to the beneficinry or benefir.ieries her3- '. f I .•••I1.1.;.:.•"",; under or be disposed of otherrrise in the discretion of the Tnlstecs. The Trustees in their sole discretion may at any.time or frQrn itimetotimeborroVionormakeloansagainstthelileinsuran<;:e policies (.n the lile of David P.Weimer and use the proceeds of such loans for the ber-efit of the bcncficir~'or beneficiarip.s hereunder &s the exigenci~s of the situation I<1Id the discretion of the Trustees may determine. The Trustees hereunder may at any ttme in their sole di~cr~tion lind lit their option discontinue the pll)·rncnt of pre~iwns OJ)all or any par~ of the insur~nce on the life of DQvid P.Weimer herein prOVided for..', ~.'. .','';'..:.'~'."; -.", -:3 - ,. ferr('(]to them hereunder or from time to time in thqir discretion may sei:or oth~I"VIi::c dlt;pose of all or llny of the oumn,or any securitletl or pror,cr~ into Ylhlch they may be converted as hereinafter prOVided,at pUblic or I.1f. .~. The Trustees raay hold said securitie:s tr:.r.s- ~'> ARTICU.:THliliE. ~: ) III j 1 1 ~.'~e;-:- private sales to such person or persons for such prices and upon such termn; as they shall deem proper.In case of any sale'or other disposition,or any liquidation of any securities or property at any.time held her~uncer,the Trustees shell fro~time to tL~e llivest and reinvest the proceeds in such stocks,bonds,notes,~ort;age5 or other securities as they shall der.m to b~ safe and wise investments,~hethp.r or not the s~e be legel inv~stment~for' trustees under the l£1\7s of the State of Pennsyhcnl\.a. The Trustees are authorized end empov;ered at any time or fro;) tiree to time in their sole discretion for ~y purpose to borro~mcney end f)r I that purpose to pledge or mortgage E.Ily of the assets or pro:)€,rt~'then constitut- ing the fund and to execute and deliver any and aB.notes,bO,lds,obligati(;qn, mort.gages,assignments and other instruments and to perform all acts necess3~', proper or convenient in connection thered.th,any B.nd nll such loans,pledf;Js and mort.:';i:ses to be made in the I:ole discretion of such Trustees and for I,u-::h amounts and upon such terms as they sr-all deem proper. No part of the preferred stock of Universol Stee:>'Com~:"ny he::-cl:j· transferred qy the Grantor shnll be seld at ~'time ~ithout the consent in \7I'itine of a mojorit"j in interest of the then beneficiari~s of the trust created by this indenture who are sui juris. ARTICLE FOUn.No purchaller of any Ilecurities or pro;::nrty at any time sold or othcr~ise disposed of by the Tl~stees shall be ~nder any respor!sibility Qr liability for the application of the purchase ll'oney.The Truztecs s1'.011 be UJ1Uer !l0 r-esponsibility or liabilitoy to M,e to the ap:;:licc.ticm of any income or principol distributed qy them to any person entitl~~to re~eive the same under the provisions of this indenture.In c~nneetion ~~tt the sale or trnnsfer of allY sec:uriLies or propt:rty made und~r the.provi-:;ier.:> hereof,the Tl~stees orc hereby lluthorized to execute nnd deliver ~l ;;;uch revocoble and irrevocable poverr.of attorney,bills of sule,usziglwents, deeds,conv~yanees and ..uch other instrumentll afi may be ncco51~ry or proper .';"'-.",• :,I...:.':' .; .'-_.-"", in ITUJ.k.ing :\leh ~e or tr~::fer.The ccrti~icatell for all Ilhnrcz of "toek -4 - and the title to all real estatz r.hich from time to time may be held ty the Trustees hereur~er shall be transferred of record into the names of tee 1 ...~~'...,..:..:.~" Trustees as trustees hereunder.The voting power upon all shl,res of stock or-----_..~-.."-..--.-."..~..'.". other securities at any time held by the Trustees hereunder shall be ey.ec~ted "~.."-..-.",_~-_.~'.."..-"__..,.."...".,..,.. by the Trustees in pcr~on or by pr~~~.If the Trustees shell at any ti~e 30ld or purch.:lse bonds at a price in excess of par,they shall not be requirAd, except at.their option,to a'llortize thatpart of lhe purchase price in excesf,of I par,but all intcre:,t received on said bonds may be treated and peid cut as incomc;or at the option of the Trustees al~inco~e in their henus may 1e ~5ecl at the time of purer~se to ~pply against that part of the cost of feid b0nas which is in excess of p&r. If tl:e Fund shall at anJ'time or from time to time include recJ. .estate,the Trustees shtill have pO'l!er to hold and manl1.ge any such rclU e:;t,:,t.e, m&ke repairs End improvenents c.nd make leases thereof to such tenE.nts for ,3\.ich periods and u~cn such terms as the Tru~tecs in their discretion ~1Y dct~rrn~r.~, and no lease by the Truf,tees for a term of five yeers or lesf,shall be ter- minated by reascn of the termin~tion of the.trust before the expiratio~of the term of the lea~e,but in spite of the termination of the trust,such le~se shall rsadn in full force and effect during the term tr.ercof.The Trustees shall have power to'receive and collect rents,interest and other incone off sai~ real estate or other trust property,using such legal proceedings as the:~ay deem necessa~'for the purpose,and they shall have power at any t~~c to sell, convuy uuu trl;;11sf el'CllY or ttll r~al est:;te lind other properLy flhil:ll they '''t:~ hold IlS trustee:;,conveyillG alld tl'Wlsferring tho same by deed or other instrumcnt,in v,Titing,in such form t1I1d flith such covenants 85 thc 'l'rust-e6S may deem best,~ithout the consent of any court and ~~thout li~bility en t~ part of any purchaser to see to the application of the purchase ffioney. The Trustees are l1uthorized and cmpo\';ered to enter into,conzent to or oppor.e any corporate reorganizritions,mer!;cr:;,consolidations,di::~:ol.u- tions and liquidutioll:J of any corporatiollll vihosc stock or othur SE-curitit:s -5 - r shall at any time ~e held b,y them as part of the Fund under the provisions hereof,and to m~e,consent to or oppose other adjustments of ~1d CnaDBCS in the capital funds or property constituting the trust property;,they may exerci:Je an:r and all rights of subscription v:ith respect to any stock:;,bonds or other securities included in the Fund. ARTICLE FIVE.During the continuance of'the trusts created ~y al~provision of this indenture,the principal sum or sums of the tru~t f~d and the incol:\e thereof shall not be nlbject to or !liable for anJ'contr:icts, debts,cn~::'Ge;:lents,lia:Jiliti.;s or torts of the beneficbries,resp2ctin:l:,': I nOVi or ~erc:;Ster fuade,contr.::cted,incurred or cO:v.Iitte:l,but :;h.::J.~be a020:at,\; free fro:n the s.s~Je,and the benoficiaries respectivel;,'silall have no ,)o":cr -;0 sell,assign or encUlJber all or .:illy part of the princi;:!:.l sum or 5\.1.1:S of the trust Fund or t:leir interests therein,respecti'Tely,or the inconc t.!1er'~of, or to anticipate Said income. ARTICLE SIX.The T~~stees,in me~inz any distributlon of principal of t~e ~~d,may make t~e said distribution in money or ,in kind, or partly in money end partly in kind. J~TICLE SEV~l,The Grantor shall have the right from t~me t~ time to J~ake additions to "'the Fund h)'de!,ositing wi t.1 the Trustees addition.:.l securities,cash or other propert'J,Ylhich sh~ll be received llnd held by the Trustees subject to all the terms und provisions of ulis indenture,~ith the sa:ne effect as if snid additions had constitut~d part of the FU:ld at the tiae of the execution of t~is indenture. ARTICLE EIGHT,This indenture lind the trusts herein cr::,:,ted shall be irrevocable by tile Grantor. AHTICLE iiIi'i::.The Trustees or Trustee hereunder,in theil'O!" its sole discretion,may pay over,at any time or from time to Ulne,t('l linn" Baker Weimcr,duuzhter of the GrnlltOJ',out of tJ1e princip:u of the property then constltuting said trust Fund or from lo:.>.ns aGainst,dividends u!'on.or proceed:;of the life insurnnce ;:Jolicics 011 the life of Duvid P.¥/cimer hcre:'n- -(,- ":... " " .... " -, before referred to GUc~~um~as may be necessary and rcque~ted by her or by anyone else in her behalf in cases of severe illnc~s,emergency (financial or othen-lise)or extraordinar:,'circumsts.nces,but she shall not receive froo such principal sums aegregating more than six tb~uso.nd dollars (~6,0:)0)i.n an~- calendar yep.r.,The Trustees or Tru:.t',e ~hllli liber::.lly cy.ercis,'l its or their discretion under this paraeraph. ARTICLE Tbil.The successor or OJ.ternate individual trustse he1'-::- IundershallbeU.Grunt Miller of Washington,p'ennsylvania,in the event of the death or declination to serve'for any reason of Edl'iard L.Stockdale ~erdn;;'cfore I named.There shall al\':,~'s be two co-tru~te€:s,'an individu.=l :md 11 cur;.-or-::.te trustee.'Durin;the lifet~~e of Anne Baker Weimer she shall have the rig1t at any time or from time to time to change'either or both the individual .o.nd the corporc.te trustee herein named and,following the death of Anrle B!lke'!'~ieil"E::-, a majority in interest of the thun benefIciaries of the trust c:-c!1ted by -:;hi~ indenture \';ho arc sui j\U'is may !it any til~e or from time to timc upon fil:.ne their rquest or election in Vlriting Cha!lge eitiler or bot.h the indi';ridu!ll and corporate trustee herein nr~ed.Any succes~or corpor~te Trustee ~amec hereunder shall be a trust company or a national b.::nk authorizEd to do a trust business,\~heth::r locc.ted 'in PE;nr,S;rl"l311ia or els(;~7here,and s:ull have a ec.;:·i~:U of not l€~s than $1,000,000 end a surplus of not le~s than $500,000.In the event that any chan~e of trust€:e or trustees is made at any tiTle as hC'rein: provided"the Trustee or Trustees whose services are discontinued shaD. effcct-~:ul:t tr~'1Srer or deliver over to its SUCCf?-8snr or 8d.l:C8S50l"S ull th; propert-,(held in the Fund llnd shall fUe an accoUnting of the adrrJ.nistntion of the trust in a court of appropriate jurisdiction. l.R!ICLE ELEVE:\j.All provi,sions of this indenture II'ith respt!ct to the Trustees or Trustee shall app13 whether one or lUore trustees sh~l1 t e acting,rcg~rdles~of \'!nether the Illn~gc herein contci.ned shall ';:e 3?proF·riut:- to a tru:;tec si:lGular i!l number or trustees plural in number,8mI nIl su::h provisions shall inure to the beneflt not only of the Tru;.tce~he·Tej,n n:!mcc, - 7 - r ·. but also to.all succc::;~;ors in said office. ARTICLE Ti~VE.Thc Trustccs hereby accept this trust and ackno~lcdge that contc~poraneouslywith the cxecution of this ir.dcnt~e th,y have rcceivcj from the Gr~tor the above mentioned securities. LIJ Y!ITj~ESS \·ilmFi.EO~'tr..e Gruntor Iln:!the indi"lid'Xll Tru~tec bve~. hereunto set their hands and seals and·the corporate Trustee has causej t~s indcnture to be executed by its Vice President ~d its corporate seal to b~I hereunto affixed,attcsted by its Cashier,the day and yee.r fir:>t ubo'7c v~lttcn.Executed in triplicate. Witness; _"IAL1.ffiJI.B~i:.:~:F~.:R~(SEAL) ATTEST: ___R--1l!~Il£a~~~.._ Co::hicr. Cor,l'~om:t:J.r.Ti1 OF PEm·!SYLV;uU,\ comITY OF ALLEX:lfiJ1Y THE U1nO:l 111l'~IO;-I,';L BAllI<Qt'PI'l''i'::?URGH By 'y~URn~G}L~!_~.E:~L .._ Vice President. On this 25th doy 01'August,1936,boror.,me,11 Notary Public in M:i for said County llnd Comi;)onwealth,C'.lJ!\e "ALTllil li.BAKER,of the City of I;a;;hin~i.on, County of Wnshington lUlU (;ot:lr,lom;ealth or PennsylVol.'lin,and l1ckno;;ledgC'J the foregoing indenture to be his act and deed and desires the ~e to be reco~cr,d li::l ~uch•. tlTNESS my hand and notarial sClll. __MAHY IQt!JS~S.1qt.:~:T'~.i-,C.J:l __ IlotarJ Public My Commis.:;ion e::?ire:s February 5,1939 .8- ,. ... ..,\.. .~ '" COMMONWBALTII OF PENllSYLVANIA COUlITY OF ALLdlHENY : ss: On this 25th day of Aucu~t,1936,before me,the subscribcr,~ Notary Public in and for the County of Alleghcny and Corrunom7cal th of Penr~yl- vania,personally appe!lred R.H.BEilTTY,Cuzhil'lr of said The U:liO:l ll<Jtlr:~l Bank of Pittsburgh,".;ho,being duly sy/orn accor~ing to 1&1'1,says that he ..;£10 personally pre~ent at the execution of the above indenture and ~3"1 the cO:J~on Iorcorporateseelofs~id corporation duly affir-ed thereto;thnt the ~e~l foO .?ffixed thereto is the common or corporate seul of suid corporllt:lon;thut the indenture ",HS duly seule:d and delivered by LAUR!:AICE S.SELL,Vice President of said corporation,as and for the act and deed of said corporation,for the uses and purposes therein mentioned,and t~at the nFmes of this affiant a~ Casilier <,.nd of LAURLIWE S.SELL as Vice Precident of said corporc-tion,~ul:.- scribed to the above indenture in attestation of its due execution and dclivelJ',are of their and each of their respective handr,ritin;;s., S~orn to and subscribed before ',. me the day and yecr aforesaid. -1:1ARY LOUISE S'i·O~~S!E;:.Qii : Noturj Public Ma1'l Louise Stolzenbach,Notary Public Idy Co~ission Expires February 5,1939 COW,~O!·!!'IE:.LT~OE'P!::;'j;;~'!:LV;'J<!A,: S:'>: COUl-ITY OF ALLi:i.}!IT::ilY R.!J.BEAT~",--_ On t!lis 25th day of August,1936,be-Sore me,a Not.:J.r'J bbli= in and for the County and Common~ealth aforesaid,came ED~ju1D L.STOCKJj~E:of Mt.Lebanon Township,Allei:heny Coun'ty,Pennsylvania,as Co-trustP.e under the rorer,oine indenbre lind acknowledg~d the name to be his uct and deed and denires the same to be recorded a~~uch. \'lITi'lESS IDJ'hand und notarial seal. , - 9 - ~L\RY LOUIS!;::;TOJ.;:]:;i,llll&JL . tlo L:.l."Y I'ubllc. /Jury Louisl3 ::;tolzell~ach,I,u i..:d'>'l"uh~lc (,Iy COlIll:~i::;:Jion E:{••'l:.·e~Ft"'I'U:,I';,':),1'Olj') ~I ~~";-:-1':1 ~!'lle and '.:;urrE~':·~,;·~),_.,.~.}............~:~'I;~··.~~0Z.1~ A~torney for Accountant IN THE COURT OF CO~ll40N PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE:HALTER H.BAKER TRUST FOR ANNE BAKER HEumR, SHARE OF Al-1Y ANNE W. LEVIN (FOro~ERLY ~~Y ANNE \1.RITTER) NO.63-70-311 ELECTION TO ~AKE IN KIND NORTHERN TRUST BANK OF FLORIDA,SUCCESSOR CORPORATE TRUSTEE UNDER THE WALTER H.BAKER TRUST INDENTURE DATED AUGUST 25, 1936,TRUST FOR ANNE BAKER WEIMER (FORMERLY AMY ANNE W.RITTER), do hereby elect and agree to take "In Kind"from EVANS ROSE,JR., SUCCESSOR INDIVIDUAL TRUSTEE AND THE UNION NATIONAL BANK OF PITTSBURGH,SURVIVING TRUSTEE,the following: Stocks 83 shares American Information Technologies Corporation,Common 833 shares American Telephone and Telegraph Company,Common 83 shares Bell Atlantic Corporation,Common 249 shares Bell South Corporation,Common 5,000 shares Cyclops Corporation,Common 375 shares E.I.duPont deNemours and Company,Common 334 shares General Electric Company,Common 86 shares International Business Machines Corporation,Capital 83 shares NYNEX Corporation,Common Exhibit "B" Carrying Value $2,492.98 6,899.12 2,530.18 3,264.38 28,403.29 .50 3,830.52 6,155.02 2,374.22 ·:..,.'~.- ,-' Stocks (Continued) 83 shares Pacific Telesis Group,Conunon 83 shares Southwestern .Bell 'Cor~oration, Common 1,144 shares Texaco,'Incofp9rated,Common .83 shares US West,Incorporated,.Conunon Bonds $40,000 NorristownJ Pennsylvania Area School District 6.70%dated 3/1/80 due 3/1/9Q Temporary Investment $300 Federated Automated Government Money Trust (Treat .as ca'sh). Cash The foregoing is balance subject to payment of the ~ollowing fee: Buchanan Ingersoll Professional Corporation Attorney's fee $2,141.48 2,289.05 3,985.86 2,157.06 40,000.00 300.00 10.56 $106,834.22 1,300.00 $105,534.22 IN WITNESS WHEREOF,I hereunto set my hand and seal this ~day of............,...,1984. NORTHERN TRUST BANK OF FLORIDA ________~_:_~-(SEAL) ATTEST: -2- IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION NO.63-70-311 WALTER H.BAKER TRUST . ADDITIONAL RECEIPTS AND DISBURSEME~TS TO THE FIRST AND FINAL ACCOUNT OF EVANS ROSE,JR.,SUCCESSOR INDIVIDUAL ~RUSTEE AND THE UNION NATIONAL BANK OF PITTSBU~GH SURVIVING TRUSTEE UNDER THIS INDENTCRE DATED AUGUST 25,1936 TRUST FOR ANNE BAKER WEIMER SHARE OF AMY ANNE W.LEVIN (FORMERLY AMY ANNE W.RITTER) ACCOUNT STATED FROM APRIL 4,1984 TO OCTOBER 18,1984 SU~~RY AND INDEX PRINCIPAL-PERSONALTY Receipts Less Disbursements Capital Changes Principal Balance Remaining INCOME-PERSONALTY Receipts Less Disbursements Balance before Distributions Less D~stributions to Beneficiary tncome Balance Remaining COMBINED BALANCE REMAINING PAGES 4 $111,~.94 71 5,860 49 f./4 4 $105,534 22 I I [4 ,/I 5-6 $9,145 I I 6 246 S5 I $8,898 ~9 6 8,895 t74 2 55 $105,536 77 Exhibit "e" ..~·~., WALTER H.BAKER TRUST COMPOSITION OF NET BALANCES PRINCIPAL -PERSONALTY Stocks 83 shares American Information Technologies Corporation,Common 833 shares American Telephone and Telegraph Company,Common 83 shares Bell Atlantic Corporation, Common 249 shares Bell South Corporation, .Common 5,000 shares Cyclops Corporation, Common 375 shares E.I.duPont deNemours and Company,Common 334 shares General Electric Company, Common 86 shares International Business Machines Corporation,Capital 83 shares NYNEX Corporation,Common 83 shares Pacific Telesis Group,Common 83 shares Southwestern Bell Corporation, Common 1,144 shares Texaco,Incorporated, Common 83 shares U S West,Incorporated,Common (Shown in First and Final Account as United States West,Incorporated) Bonds $40,000 Norristown,Pennsylvania Area School District 6.70%dated 3/1/80 due .3/1/90 -2- Account Value I II $2,492 98 I I 6,899 12 I I 2,530 18 I 3,264 38 II I I 28,403 29 50 , 3,830 52 , I i 6,155 02 2,374 22 2,141 48 2,289 05, 3,985 86 2,157 06 I 40,000 00 1 ,"',- WALTER H.BAKER TRUST PRINCIPAL -PERSONALTY (continued) Temporary Investment $300 Federated Automated Government Money Trust (formerly Federated Trust for Short-Term United States Government Securities)(Treat as cash) Cash Note:The foregoing balance is subject to the following fee: Buchanan Ingersoll Professional Corporation Attorneys'fee TOTAL PRINCIPAL INCOME -PERSONALTY Cash COMBINED TOTALS -3- ., It-------Account Value $300 00 $106,823 66 10 56 $106,834 22 1,300 00 $105,534 22 2 55 $105,536 77 .•., WALTER H.BAKER TRUST PRINCIPAL -PERSONALTY RECEIPTS Principal Receipts per First and Final Account filed Plus: Reimbursement of funds re adjustment of fees as follows: From:Buchanan Ingersoll Professional Corporation Attorneys'fee $1,800.00 The Union National Bank of Pittsburgh Accountant's compensation 1,800.00 To:Buchanan Ingersoll Professional Corporation Attorneysl fee $1,300.00 $3,600 00 $109,094 71 t The Union National Bank of Pittsburgh Accountant's compensation TOTAL PRINCIPAL RECEIPTS PRINCIPAL -PERSONALTY DISBURSEMENTS ___0_._0_0 r-___=1~,...::3...::0...::0~0....;:.0_t+---=2~,-=3....;:.0....;:.0~0....:::-0 L $111,394 71 -4- 5/24/84 Principal Disbursements per First and Final Account filed PRINCIPAL CAPITAL CHANGES Bell South Corporation,Common 83 shares Shown in First and Final Account filed 166 shares Received in a 3·for 1 - Stock Split as holder of record on 5/5/84 249 shares Cyclops Corporation,Common To correct record date re Stock Split as shown in First and Final Account filed from 12/18/79 to 12/18/78 $5,860 49 $3,264 38 o 00 $3,264 38 I .-.•','-,,.. ,. . I WALTER H.BAKER TRUST INCOME -PERSONALTY RECEIPTS Income balance per First and Final Account filed $ .,.~ o 00 American Information Technologies Corporation,Common 83 shares 5/2/84 -8/2/84 American Telephone and Telegraph Company, Common 833 shares 5/2/84 -8/2/84 Bell Atlantic Corporation,Common 83 shares 5/2/84 -8/2/84 Bell South Corporation,Common 83 shares 5/2/84 249 shares 8/2/84 Cyclops Corporation,Common 5,000 shares 7/2/84 -10/1/84 E.I.duPont deNemours and Company,Common 375 shares 6/13/84 -9/13/84 General Electric Company,Common 334 shares 4/26/84 ~7/26/84 International Business Machines Corporation,Capital 86 shares 6/12/84 -9/11/84 NYNEX Corporation,Common 83 shares 5/2/84 -8/2/84 Pacific Telesis Group,Common 83 shares 5/2/84 -8/2/84 Southwestern Bell Corporation,Common 83 shares 5/2/84 -8/2/84 Texaco,Incorporated,Common 1,144 shares 6/11/84 -9/11/84 U S West,Incorporated,Common 83 shares 5/2/84 -8/2/84 Norristown,Pennsylvania Area School District .6.70% $40,OaO 3/1/84 -9/1/84 -5- $161 85 161 85 249 00 499 80 _.265 60 323 70 2,750 00 543 75 334 00 176 30 249 00 224 .10 232 40 1,716 00 224 0 1,340 PO -WALTER H.BAKER TRUST RECEIPTS (continued) Federated Automated Government Money Trust (formerly Federa~ed T~ust for Short-Term United States Government Securities) 3/1/84 ~9/30/84 TOTAL INCOME RECEIPTS INCOME -PERSONALTY DISBURSEMENTS ..~ $17 39 f $9,145 14 10/18/84 The Union National Bank of Pittsburgh ~ccountant's compensation INCOME DISTRIBUTIONS-TO BENEFICIARY Distributions in accordance with Article One of the Trust Indenture dated August 25,1936 Amy Anne W.Levin Account net income 7/6/84 $3,784.63 10/4/84 5,111.11 TOTAL INCOME DISTRIBUTIONS $246 85 I I I8,895 74! TOTAL INCOME DISBURSEMENTS -6- $9,142 59 COUNTY OF ALLEGHENY SS COMMONWEALTH OF PENNSYLVANIA, The above named Fiduciary or representative thereof,being duly sworn doth depose and say that the facts set forth in the foregoing petition are true to the best of his knowledge and belief. Sworn to and sUbscr~'~ed before.;q~This--r '-.:...:-1-_"....."...."......,._ day of~,1984 Nifary Publ-t,c ' NANCY l.filRSH,9-101;\I\Y PljIlL~C PllTSSURGtt AllEGHENY cOmiTYrAy',CO~MISSION EXPiRES ,JU,IlE 30.19~M~~tier,Pennsylvania ASSOCiation of Notafles And your petitioner wil~ever pray,etc. ~& Evans Rose,Jr.L and THE UNION NATIONAL B~K OF PITTSBURGH -5- ~ PETITION SUR AUDIT IN THE ORPHANS'COURT "OF WASHINGTON COUNTY FORM USED FOR GUARDIAN-INCOMPETENTS -OR TRUSTEES No.63-70-311 ESTATE OF WALTER H.BAKER TRUST FOR Anne Baker Weimer,share of Amy Anne W.Levin (formerly Amy Anne W.Ritter) wi~¢tfi~¢¢w¢¢t¢~tflifetenant Evans Rose,Jr., Successor Individual Trustee and Tne Union National Bank of Pittsburgh,Surviving Trustee Counsel for the accountant shall submit herewith the follow-ing,if pertin~nt: 1.wi1.1.I¢t trust instrumentfatt¢$t¢¢.Exhibit'''A'' 2.l~y¢~t¢tt,' 3.Signed election$of items to be taken in kind- itl¢i$tti»~ti¢~!a¢¢¢~~t' 4.$ti¢~1.~ti¢~/¢t/¢~ttiti¢at¢/»Ylwi~¢t/a¢¢t¢Yi~0a¢¢¢~~t'·. 5.Praecipe for those represented. 6.Brief-for any question of law raised. James W.Ummer,Esquire Buchanan Ingersoll Professional Corporation 600 Grant Street,57th Floor Pittsburgh,PA.15219 Counsel for accountant. .' • Q THE COURT: A As an attorney••••'. ,Among the 21? Yes,Your Honor. As an attorney,have you specialized in any .:..particular areas'oflaw? 25. i. <Az:«>oJ~•z ZIII QII. i0I-0z i•.:~ ..:Auir.•l-II C oJ0( Qc :J.,. :r..".. A I My concentration has been in trusts and estates practice. ..Would you describe for the Court any expertise you may have in the field of investm~ts, fiduciary investm~nts? I'm hesitant to ever be presumpt~ous enough to· call myself an investment expert..That would to be a preliminary'.f.falling on your face in the investment field.I have a number of trusts in which I am looked to for investment advise. As trustee of those trusts,do you have discretioI in the area of investment decisions? In·some cases it's'sole discretion,and in some cases it's joint discretion. You heard the prior testimony concerning the cyclops Corporation.Are you aware of any relationship that may exist between the present trustee,the present corporate trustee,Union National Bank and Cyclops corporation? I believe there is a banking relationship between the conunercial part of the corporate trustee and j CROSS EXAMINATION BY MR.ZELT: '. • • Q A ....:-::•!:I : Q I j !liti•I(~ :1 A.... :I II 'Q .J0( ij 10::J~ It~..,. !otR.KOPF: Q A Q A 26. cyclops C?rporat.ion. Given that.,do you feel t.here's any special expertise you could lend to the particular trusts in question? I suppose the most import.ant factor that I could lend to the relationship would be tilat I have ,. no relationship'with Cyclops corporation.So I would be comple~ely objective• Are you'a\'1are of t.he principle under Pennsylvania law of impartiality between.life income beneficicries and and.the contingent;remainder?~ I am. If you are appointed as trustee of these trusts, would you make a special effort to maintain and ....•.~II honor that duty of impartiality? I certainly wil~. ~our Honor,I have no further questions of Mr.Rose. Mr.Rose,do you expect to change the present investments of the Baker Trust? That would be presumptuous to answer that.I would have to evaluate them. So you have not.done so? done I have not/so~I.think that also would have been .---------..----------------------------- 27. ·presump'bious. Q • • • A Q '!z 0(.~ po•zzw AII. i0.."zi•Q0( ~ .,:'ui..III Q oJ0(~Q :).. :z:A..r-III iii Q'a:III..a:A0.. IIIII:..QIt::) 0u oJ0( U i-.0 A Q Are you familiar with Cyclops Corporation from an investment standpoint at the present time? No. So that you woul~be undertaking your duties, if y~u were appo~nte~,without actually knowing anything about the primary security;that is,.. the corpu~of the-estates? .I wouldbe taking a fresh approaoh to the investme a, yes. . ,.You could decide,subject of course to the 'or,_...approval of you as co-trustee,and Un10n Nat10nal "Bank ,that the Cyclops stock could be in fact epti~ely sold? I really don't'know what I'm goingto recommend. That could be your decision? It's 'possible. Your duties as trustee,if you were appointed, would consist of making investments,preparing necessary papers.and the various duties you perform in your other trusts,is that correct? I assume that I would have the full line of fiduciary duties. Therefore,you would not simply sit back and rely on what tha'qnion National Bank did,but you would take an active part in the trust? II,i j 28. -. A Q . A I certainly.would discharge my fiduciary duties. I think there has to be activity. Your fee,basis would be on an hourly rate,is that correct? That is correct. , i.., i Or a lawyer? I think lawyers and nonlawyers have been com- pensated on a percentage b~sis• What percentage was customary during the past several'years in Allegheny County,and what was '"it based oni that is,applied to corpus income? have set your fee on a pe~centage basis as acting as trustee? I don't think a law firm can act as a trustee. different formula.The formula will vary between the portion of the charge on income and a portion of the charge 9n principal.I don'tthink there is a set customary'fee in Allegheny County any longer..Mr.Ummer who worked in the Trust Department and Mr~Hagy who works in the Trust •i Department maybe could shed more light on it,but.-.---j That's a hard one to answer,because each bank has g~ne,at leas,t the banks that do'most of 'the trust.:-business;!-lellon,Pittsburgh National Whereas in the past many law fi~s!maybe even 'yourself,have accepted a percentage of the ,and Union;each bank has gone to a somewhat '0 ~z~~>-IIZ ZIIIL i Ag ~z i:Q•~~A..:uit-Ilii ~Q§,o ;) ~ 1:t:III iiia:~,A II:oLIIIa: ~;)oU ..I0( ij i...o •• • 30. Trust has an approximate value of $200,000.00;and the Anne A.Dune •A is $600,000.00• That's my recollection,Your Honor. CROSS EXAMINATION BY MR.JULIAN: Q A Q A Q A o A Q A Q Cl Mr.Rose,for purposes of my understanding,do you have a present rate that you charge per hour as trustee? I'm charging $50.00 an hour as trustee. If you were appointed,your charge would be whatever the rate'is for,that"particular time? That's correct. In other words,should you increase your rate, that is what you would charge the trusts similarl , is that correct? That is correct.I told Mrs.Ritter that would be the then existing rates at the time the services were ·performed. If this trust would continue for the 10 or 15 years,your rates would continue as time goes on? Assuming rates goes up. Assuming inflation,etc•••? Right. In the Duncan Trust there is a corpus of approxim tely '\. ,31. $600,000.00;do you at this time know what the income is on that corpus,or what the income •A Q A Q A Q A MR.JULIAN: potent~al is for t~is year? I have not reviewed it Mr.Julian. Your answer would be the same.in the Baker Trust? Th~t's correot. As I understand it,your duties as fiduciary is to take care of'the trust in 'the best interests of the beneficiaries'and that includes in this case minor beneficiaries,is that correct? That includes incomeheneficiaries,contingent beneficiaries and the remainderman is left. Should a decision arise that you would have to make as to what would be best for the trust, and a potential conflict would arise as to ~the income beneficiaries as opposed to the contingent beneficiaries;how is that problem resolved? in the A judgmental decision as to What's/best interest of the entire group.You cannot favor one over the other. That's allOt FURTHER I ~CROSS EXAMINATION BY MR.ZELT: Q Where a rate of percentage is being charged by a trustee,is it the,'accepted manner of doing tha A Q -A o .. .32. to ---if there are two trustees,a co-trustee, \fOuld the rate be doubled or cut in half so that each co-trustee would receive one-half of what the fee was? That varies really.A lot depends on the instrument.Sometimes the instrument controls•• I don't think there's any decisional law that indicates it's supposed to be cut. Where you have two trustees rather than one, 'would,the fee be any higher than it would.be if there was just one trustee? I think it depands on the nature of the problems that arise,the degree of difficulty,the results you achieve.I think there are a lot of factors that go into that• .1f you have a-lot of.difficulty in'the trust, ,is it your position that the fee should be larger for the two co-trustees adding up to more than it would have been if there was just one trustee? I think a lot depends on the benefit that~s derived from.having a second co-trustee.I think that's a jUdgment that has,to go .in. I certainly am not going to slavishly apply an hourly rate if it's going to be unfair• What I'm trying to point out is because the matte --------------=--------------_. '. • • ...o~,U;;:·ii 0:~ ~ i...(II ii A oJ0: ~Q1:1:J, fa Ii AI:•~•LIIr: tor:•:::l-0 /J Q...,0( ;j iL...,.) A Q \faS brought up that you would be charging an hourly rate is,.I wanted the Court to be aware - that if a co-trustee might only be receiYing one- half of the percentage"type rate,and also if there was no income and the percentage was ~pplied to the income to get a fe\i,you would. ~.""still on your hourly rate be getting a fee becaUSE ,you are charging by the hour;and therefore your :£ee would be larger and could be much larger to eause inv:asion of the principal,where the invasicn •,of,"the principal would otherwise not occur on ':a'percentage fee? -'1 think that is pure speculation Mr.Zelt. -'If there was not any income in the trust est~te, :'you'would .still expect to be paid?.. I think there will be 'fln income.I think we have a duty to an income beneficiary to generate some income. Let•s suppose y~u performed your duties and you wern't able to generate any income,you would still expect••• I think Mrs.'Ritter would be in here petitioning .for my removal.- We're not interested in that at the moment. What I am interested in learning,if you were to intend to invade the principal of the trust •• A .. MR.ZEl,T: MR.KOPF.:' to get your fee paid,where for example you may have -had court proceedings that may have been extremely involved,and there wasn't any income from the particular investments in the estate to pay your fee,would you then intend ,.to invade the principal? No I would not invade-the principal. I ha~eno furt4er questions. .Your Honor,I have no further witnesses• 34. .THE'COURT:r, MR.ZELT:'. .' Mr.Zelt,do you have any witnesse ? Your Honor,I think we'll put on on~of the petitioners.Only one of the petitioners is here.Then we'll put on Mr.Ritter.If the Court please,~would like to present petitions for appointment of ,eo-trustee,to wit,Will~am Ritter in both the Walter Baker and Anne Duncan Estates. DAVID MICHAEL RITTER CALLED AND SWORN: DIRECT EXAMINATION BY MR.ZELT: State your name please? David Michael Ritter. ,..~". o Q A 35. Where do you live? Currently I'm living in Gainsville,but all my mail should be the same address as my mother's houseT That's in Miami? .'1-1iami 4101 La Playa Boulevard,Coconut Grove,/Florida. I have just presented a petition to the Court "",....-. asking for the appointment of"your father, William Ritter,as co~trustee in the two estates. """"Are you familiar with those petitions? Yes sir..' Was it your intention and desire that your father should be declared tru~ee along with the union National Bank or whatever other corpora . trustee there is in those estates? Yes sir.' Do you say that because your father told you to say that,or do yo~say that having made the decision yourself? I made the <:iecision myself.The past year,the incident my mother ,was talking about,the house and invading the pricipal,my father was not even in Florida.H.e was in Pennsylvania.Both my brother and 1,_Jeffrey,the other petitioner, said no because we had been over with my father and I understand that "the principal on my mother's death would be s lit seven wa s. II Q " far as As/you know has your father handled your affairs and the affairs of your brothers and sistersand mother satisfactorily through the years that you've been able to observe? Yes sir. Is there any reason that you know of why he, .'namely your father would favor you over your mother in any investments t:hat he might make in the trust? No,I don't think so. Have yo~seen any inclination'whatsoever on his or part to hurt/to di,ininis:h the interest of your mother in the various-trusts by your father? No sir. Have you spoken to yo~r.younger brothers and sistersabout the apPOintm~~of a co-trustee? Yes sir.Last year in S~ptember when my sister Susano went to ~rope,my father,mother,brother Jeffrey and my sister all sat"in the front yard. My mother first-raised this question "about appointing Mr.Rose as trustee.At that time we said we wouldn't do anything until my sister Susan was home from Europe and we discussed it more as a family.At that time my sister and my brother felt that my father was doing a good enough j~b and things were fine. 36. that purpose? • • e- THE COURT: :t: :c>..)-o. ~' L.oI-oz i4::= ~Ai:-I-o II .:I4:2Q :::l., E ~THE COURT: "..-I:.. .t: )L01I: It A ;) :::l~Q jj ~. o A Q ~8. It seems to me I ought to object to that and hear it from them. HC's testifying as to whether it's a wilful act or not;did they do this of their own volition or at the request of their father.If . he knows ---for example it would not be hearsay because it would bE , ~overt act,it might be a verbaJ act. -My brother Jeffrey and I discussed this with him and we told him if it was our father's idea we would put it in the.p~tition. Did your father prod you into doi 9 this,or"did you do it on your OWl? I did this on my own,both my brother and I did. Do you know 't1hether or not your brother has J inten~ed to become part co-petitioner with you and has signed and sent an affidavit to me for should have Yes he did.I believe you/got it Tuesday morning The best evidence would be that affidavit,which we do not have now,but we will submit to the court when and if it arrives. I'! MR.ZELT:,'I have no further questions. 39. CROSS EXAMINATION BY MR.JULIAN:, What is your full name? "J David Michael Ritter. David,you are how old at the present time? 22. You are living away from home,is that correct? Yes. Are you going to school or working? No.I'm livingon the dividends provided by, .the trust my father set up. You are receiving soine money from that trust account? Yes. Is there presently existing any animosity be~ween you and.your mother? I would say yes. What is the basis of that animosity? We don't see eye to eye on the reasons for the divorce to begin with.Since then it has become an obsession,and that's the reason I am no 'longer at home. I· Q A Q It's become an obsession with whom? MY mother. In other words,yOll do not agree with her or her position with regard"to your father,is that 'correct? -. • • A Q A,_ Q .. :2..> ~Azz....Q-.z_-c '~ez :I:C..3: t A II:I-~Q .J..~A~ Q A Q A '40 •.' 'That's correct. 'That same feeling continues over into this trust problem,is'that correct? I feel that my father'has all the qu~lifications and hels not getting any compensation for it. Is-there animosity existing·betwe~nyour mother "and your father? lid say so. Do-you,feel that this animosity would affect ......... .your father Is judgment.\'lhen -he administers the trust? ,. I donlt think so. Why do you feelthat.-way? I don It think he ,is t;,~ed :t;o antagonize or do.. anything against~her..-~He,o'seems willing enough to discuss the trus~s with the entire family, those of us that understand it. Are you saying that your father is being rationall about this entire ,problem,but your mother is not? Yes • You Ire saying that she's not being rational was because she10bsessed with the divorce? -Right. Is there any reason why you feel shels obsessed' with the divorce? I just feel tnat she had filed in 1974 for the divorce and -it's been dragging on in our family THE COURT:•A Q A MR.ZELT: MR.JULIAN:- THE COURT: Q A Q ,fo~two years.My position on the issue is that it's dead. The divorce issue is dead? Yes sir., In other words,if you had your choice you would want your father and mother back together? Yes. I don't think we have to go into I 'thought it would be of some relevancy. Go ahead.It's very relevant. -The position you take is one that your father should be appointed co-trustee.Do you feel that is in your best interest? Yes sir. Do you feel that is in your younger brothers"- and sisters'best interest too? ,, is. ,, A Q ,Yes sir. For the same reasons?In other words,you feel t.hat your father has the experience,had conducted this type"of business in the past, had done a good job,and that he will continue to do a good job,and his probJ.em with your mothe 42. would not interfere with him doing a good job, is that correct~ A Q A MR.JULIAN .: ~ Yes sir. You feel that applies to your younger brothers and sisters? Yes sir.., That's all I have,Your Honor. CROSS EXAMINATION BY MR.KOPF: Q A Q A Q A Do you recall Mr.Zelt's question to you con- eerning the invasion of the principal by your mother? I don't how it was worded. You made reference to the 'fact that your mother ~ttempted to invade the'principal on the trust? Yes. Are you aware of the fact that the trust instru- ment,the trust agi;eement of Anne A.Duncan expressly gives her the right to withdraw the principal? I don't know anything about the trust.I know she came to my brother Jeffrey and I and asked I , us if we were willing to sign a paper allowing her to do this,and we both said no.Then later she said she was going to :pe~t..!-tion the ....:..-;r-.__C_o~ur_:__t-.-t-o-...,.~p-p-O-in---t-Mr--.-Ro-S-e-in-s_t.e_a_d:..-o_f_m_y_f_a_the_r_.---4~ I 43. Q You're not aware of any provision in the trust that allows for the invasion of $10,000.00? REDIRECT EXAMINATION BY MR.ZELT:• ,A No. •• Q ~ ~<;...~e·iiL A·o~•:: i<~ ~ 2.. : Q..<.ij ii~.. E A t-O! Michael,was it after she failed in her attempt' to invade the principal that she sought to have, ~1r.Rose appointed trustee? Yes sir.It seems that it was after that,becaus it was just before that 'that we discussed it. Then I'd left and that wasearly in summer.She talked to Mr.Rose after that time,yes. Do you think your mother would still like to invade the principal for those same purposes?. I sort of suspect that. No further questions. Bas your mother ever used toe trust funds to .support you or your brothers and sisters? I don't know.A «:-) L~RECROSS EXAMINATION BY MR.KOPF: • THE COURT:You don't know? ·A I don't know what she was using to support us. THE COURT:Don't you get money from your mother? • A THE'COURT: A o A· MR.KOPF,: 44. NO.I get my money from the account my father set up in Florida. So you don't depend on your mother J in any way? No. Did you hear the testimony to the effect that the stock in that trust was provided by your (t - mother? great- Some of it'was left to me also by my/gra~dfather, Walter H.Baker,and then -shares were taken from my.'mother's account and given to each one of my " brothers. No further questions.' WILLIAM C.RITTER CALLED AND SWQRN; DIRECT EXAMINATION BY MR.ZELT: o A o A o A State your name please.Q , My name ;s William C.Ritter. Where do you live Mr.Ritter? My legal residence is 4101 La paaya Boulevard, Coconut Grove,Miami,Florida. Are you now living at that .address? ,I've been wit.h ~y .mother for the past few \-Ieeks, in·fact for the past five months except for the month of January this year. 45. Where'doesyour mother.live? In Knox,Pennsylvania,Clarion,County. You are the subject person in the petition of .Michael and Jeffrey Ritter? Yes sir. You are the husband of 1>Jny Anne Weimer Ritter? Yes sir. What is your age? I'm 49. For how many years have you been married to your wife? Since August of 1952. You have how many children? Seven children. During the course of your married life for the past 20 or 30 years,what have you done by way of taking care of the affairs of your childre and 'your wi.fa? I·have done throughout the entire period of our marriage,I've ha~dled the tax returns, Federal Income Tax,State of Florida tax,includ'9 audits /some disagreements in Florida.I have managed brokerage accounts for my wife,joint account and for myself,since I guess about 1954 or so. I have served as custodian under the Florida Minors Act for my seven children,dating in the case of when the act was aaaed in Florida,I Q A ' -: :0:Q-:>...)- eI-II L A... ()...,.. iQ 0(.- ~J•a: I n J oJ~ ;) ::l:l., ~.."w r.i IEIII THE COURT:.. IE0() IlL111II:..AII::l 0u QoJ0( jj i:II.0•A : 46. think in 1957.As the other children were born I established'accounts for them and handled those sinc·e.' Are you a law school graduate? Yes.I am ~graduate of the university of Miam~School~of Law. Would you describe your experience in the invest-'•-ment field? By education,after going to Florida I studied at the University of ~liami and took courses in' investments.By that.I mean security analysis, and that kind of thing.Following law school I took courses at the New York Institute of I worked Finance and/with Bagen-Stone,a member of the stock New York/Exchanqe. In Florida? In Florida,yes sir• Are you familiar with the Cyclops Corporation, and if so for how long and to what extent? Yes sir,lam.I went to work for Cyclops in September of/1952.I took a leave of absence to help with some problems in .Mrs.Ritter's family sometime in 1953 and we moved to Florida in December of 1954.I have over the years maintained contact with some of the officers,directors,and genera ly tried to sta as familiar as I could with the Q ,•A Q A.. z..> >:•z Z III THE COURT:II. ZCl-e!Z A%III..3:Q ..:!:! II:-....!!! Q...<~a:l., :l:l-I'-Al'lI ctiII:IIIl-I:aL QIIII!....II: au...Aciii:...0e Q A operation of the c<?mpany,the way it was going. Is it correct that the Cyclop$Corporation composes the major holding of the Duncan Trust? Yes sir• " And the Anne A.Duncan Trust? Yes.It's the major holding in all the family trusts that came through in Amy Anne's family. Was this the Baker trust too? Yes sir. For purposes of clearing the record,it was Amy Anne I s grandfather who began the Cyclops Corporation,or was instrumental in its early rise? I'believe he was the founder and o~ganizer as generally understood,yes. He was the Baker that is the settlOr~J:in all these trusts,to wit,Walter H.?. Yes.I believe in 1830 it's called an insurance trust and he was the settlor in that,yes. During the course of the past 20 year~,have you bean active in the investment business? Yes sir,I have been.I started I believe it was in 1954 and at one time did a lot of short term trading in the market.During law school I was quite active in it.I continued • ------------------------------,-----------, 8. •Q A after law school working in th~field until 1963 handling family accounts,advising my father as well 'as our immediate family. Are you able to prepare returns.as would bet.• required in trust estates? Fiduciary returns? .. .- ..Q :i.. ">-A...- ~QI. :itoto":it...ii-:~ ..=(I c~A •a....~ "II ~., ~ t-III II 5 -II::>3 Q ~A LL:> Q Income tax type~ Yes.Was the question have I ever prepared them? 'Are you able to prepare,or do you have experience in the preparation of fiduciary returns or any returns that would be 'required of the trustee or beneficiaries? In la"l school,of course,I took.extra work tax in 'future interest in/law.I am presently acting 'as sole e~ecutor for my father's estate~since his death on November 8th of last year ~I will be co-trustee on two trusts established under his Will.I am doing tax work on that. Have you had experience with tax work? Yes I have.I have done all the family tax returns including my father's at time S'and .all our immediate f~ily. Were you involved in the'matter where following the death of Amy Anne 'os sister,J"'ulia Knisley, there was an attempt to.reform the Duncan-Baker Trus~s,namely the Baker insurance trust,or the -Anne A.Duncan Trust? .. • .' • • A Q A Q ~x A-:>...)-•zzur. z 0~ux i•0( ~J: ~•~It o·.~ ij Ci;)... i:r.a U ICII..IC•LIII:..I:::l00 .:I0( ij.::'"I) 9. It is the Anne A.Duncan Trust. Are you familiar with that situation where there was an attempt to reform that trust? Yes,I am. Would you tellthe Court very,very briefly what happened there and what part y6u played? -, The attemp:b"~of reformation of that first came to our attention by Mr.Don Patton of the Union,. National Bank informing Amy Anne that there was an audit to be held,that it appeared.th~ there had been an error in part of the distributiJg of the trust.Secondly,I called Mr.'Odel Parkinson,who was then counsel for'the corpor~te trustee on audits h~ld here in washington county. He told me he got a letter from Don Patton saying that,instructing him that the way to get this thing into court was to have an audit.Amy. Anne didn't know what the situation was;nor did I at that point.From that time on I started having cqnferences.with Smith-Whitworth,the former representative of the bank in these trusts, the former trust officer ,before Don Patton,and talking with Odel Parkinson of Washington.I ad\ised Amy Anne to come to Washington and talk to Tom Fi~ch,who is a very good friend of hers and I think of mine,and advised her that I thought she needed counsel and by Mr.Fitch's advise migtt 50. find counsel here in washington at the first hearing on this audit.. I consulted subsequently -with him •••••' Yes,I would say t~ere was an active part I played. .&ld negotiated the fees for (some of 'the research. I II have? She's receiving more income,and the children receive eventuafiy more ,principal than if the As a result of which;Amy Anne is now receiving more or less income than she otherwise would in the trust as it had been administered from The appellate court reversed ~~is court,thus "What was the result? Taking an appeal as we did.I selected counsel hearing.,Then the Court here ••••• Did you pl?y an active part in the attempt to stop the feformation? in that and what was the result? I did consult with the attorney at the first Let me brief this:you did play an active part •I .preserving interest for Amy Anne and the children' ~, "1930. •Q A c J.. ) ):Q•J J "II 2-Cl-I!Az i•..Q~ ~Ato:•i...ld a...<ua:J., J:I:C'{ .IiI:IIIt-o:CII.iiiI: I-,QII: CC..-cii:LC•·,A ~ trust were reformed and the .interest reduced. Q o ,Did you recently .con~er with the Union National Bank and urge them to make a change in the investments in one.of these trusts? Yes.We have discussed,I have been co-trustee •Q 51. with the Union National Bank in the Walter Baker Estate for some five years.We have discussed changes from time to time,one of which we just recently effected,I believe partially effected., Did t~at change bring more income to the life ....1' peneficiary,to wit,your wife Amy Anne,or less? Mr.Hagy can answer that probably better than I.I believe it'will bring more income.I belie e the thing is ' lit will be more stable income.To be more ... precise about-it,''.we were sitting with Anaconda.. stock that a few years ago eliminateddividendt, -.,enti~etie?and we switched it to American Telephone which has'g90d div~dend payments and increases. I would say it was upgrading the quality of the income,the reli~bility of it,and probably increasing the dollar amount. When did this occur,the change in the investment 'I think 14r.Hagy called me about two weeks ago, it's within the last two weeks. This is long after your wife had filed for divorce against ,you? 'Yes. 'Since she has f~led,have you made any attempt whatsoever to encourage anybody associated with any of her aff~irs or any trusts that she benefit by;have you made any attempt to have these people perform any acts or omissions that might ~---~-----r------------------------------------_--.--__----. • A Q ... 52 • . calise her to get less income? No,I haven't. If you were appointed trustee by the Court,L would you change the investments or make investments that would-give her less income necessarily as compared to much more growth? c A :I...)- '">-III;;:;;:af.....aI<-lJ,.. II_01 ~..c: c•..el II .J0( ij 0::I Q., ~~ '"'4.~I:II I:. .JL~A-.I:::I·::IJ... 0(u,L.LD• No.I'm not prejudiced on this.I would like to say ,that Amy Anne has filed for divorce. I still love her,I.told her that.She and the children are natunal objects of my love and affection.I.haveworked to the best of ----my ability over the years to treat people fa.irly an.dequally and :t see no reason to change now or in the future. If you should.~et diyorced,-would that change? _Would you change your ·.approach to providing her with income? No.These trusts are just a part of the total picture.By that I mean that my children at least have a contingent interest in my father's estate.I am still running custodian accounts -for their benefit.I have tried over the years to balance this thing.I have discussed this frequently and,freely and as much as I could with Amy Anne and the children as they became old enouqh to understand.Since I feel I am in a unique position,1..s_ee the total family picture, -..~..~' • II Q A Q A Q A ------------------.------- I have done work in state planning,and much of what we have done has been based on that. It has been done after much discussion within the family between Amy Anne and me • The various other trusts and accounts that you have handled and that presently exist,do they include Cyclops Stock as well as the two that are in front of this court now? Yes they do.The Baker Trust includes it, these two trusts';my father's estate does not; the custodi~_accOunts do.About half of that'. was 'given by their mo~her,I gave a few shares, the rest was I had purchased some Cyclops stock. Are you familiar with the present situation at the Cyclops corporation,namely what the stock is selling for,what the book value is and the nature of their business generally? In your opinion,would it be wiser to have an individual in a position to vote all of the shares of stock thatlare in the two estates before the Court,as well as the others J as compared to having a piecemeal type voting, considering what the condition of the Cyclops Corporation is? I think it would be disadvantageous to split .the decision on this.It was Mr.Baker's intentJon, ·e, A '. 4. I believe,9~eat-grandfatherDuncan's intention that these trusts be administered as a unit. If you look at the trust agreements,you will see words to that effect;by that I mean prohibiti·ns on sales without the consent of the beneficiaries, and so forth.The stock is selling on the <' market at abo~t 18 1/2,and I think at Friday"s close the book value was in exceSs of $60 a share. One of the things I know from discussion with the President and Treasurer in the last couple of yearsand things they have been concern el' about is the possiblility pf a tendered offer. What did you say the market value was? ,It closed I think at 18 1/2. a That f s roughly;:/third of the book value? Yes sii.It's under one-third.That was the book value at the,end of the year. " You said something about a tender.For those of us that aren't quite certain what a tender is,would you tell us? There has been,of course,in the last few years with the market value of securities being depressed,the general market conditions and IIe • II ~ 0:~-I>-a%~THE COURT: L ..z ~z i•cl .=::!Ac D' ~Q oJc~ D;)., £... iiiI:IIIt-I:oDo~ ~A :::loU .I«U~o ~s. economic conditions,there have been quite a number of ·takeove~s by other companies,companies where the market value is substantially below book.Management has been concerned with this possibility at Cyclops.In fact I believe they changed the by-la\-ls some years ago to make that a little more difficult. They're worried that the same thin~ that happened to Copperweld might happen to Cyclops? That's it. Mr.Ritter,have you ever told your boys not to --(strike that)Have you ever told your boys to prepare a petition and have you present it to have you appointed as trustee,or directed them to do that? NO sir,I have not directed them.I did discuss last September with Amy Anne and Michael and Jeffrey and Susan,the three children who are of age under private law and over 18,what is at stake and how this trust fits into the total family picture;what I thought the advantages might be in my serving;what the disadvantages might be in having strangers to the family serve, someone not close to them,someone that did not know.We had full discussion on it,I did not I )6. direct them to file the petition. Q Did you ever charge any fees for any services •A you've rendered as trustee or in any other capacity in the affairs of your family? No,I have not. Cross examine. I've so indicated that I will serveNo. Would it be your intention to charge a fee if the Court would appoint you as trustee here? without compensation. Mr.Ritter,you testified earlier concerning accounts or the income to your wife,is that a correct statement? Are you saying to the Court now that you \rould not be charging either on a dollar basis or a percentage basis or any other basis;"that there would be no fees deducted from the trust That's right,yes sir. your wife's divorce proceedings? 'Q iii II:III~~MR.ZELT: IIII: l-ll:8 .;;;CR;;.;;O.:;.S;;:;.S::.....;E;;:;;XAM;;;:;;;;~I::.:N;.;,;:A~T:.::I:.::O:..:N.:....;:B:..:Y;.....:.:!'m~.-::.;.K:.:::O.:;.P.;;...F: ..Ic( U~0o ~ I-Ii VI \. Q ~• ..I~§ D:::l., £ til A •A Yes. o A Approximately when were they commenced? There was a petition filed,I :think,in September of 1974. o Are you familiar with an attorney named Francis S s? \ \ Ie A o A' o ..A 1 0(.~-Q >•;;: ;;: tI'" A Q A 57. I am.He Was for.many years a neighbor and friend of mine.. !Is he the attorney for your wife in this proceedings? He has been and is to the best of my knowledge, yes. Is this in Dade COunty? Yes sir. Is it true that you have upon your own ';init,iative due to the'fact that you are not represented by counsel asked for several postponements in -,,this heaJ:ing?_ I did ask my wife.uto postpone,yes.On February 8th o'f'last year my father became ill and was hospitalize~on an emergency basis in Tampa, Florida.I flew there and was with him and it turned out he had terminal cancer.We did postpone it. How many postponements have you initiated? That depends on how it's interpretated•.·~b:s. Ritter can answer that better than I can,she seem to navG.a different view on that than I do. THE COURT: A I'm sorry,I can't hear you sir. I have not gone into Court and asked for a postponement.We agreed initially. MR.ZELT:We don't think this is relevant. • THE COURT: MR.KOPF: What are you trying to get at? There are inferences made earlier Your Honor,that my client is delaying the proceeding.I just wanted to clear up the record on that. That was by mutual agreement,I believe. Is it true that the Judge in that hearing held you in contempt of Court? No sir.There has been no hearing on the petition for divorce. You were not directed to leave your 'wife's residence by the Judge? There was last August --I had been here with my father and flew back to Florida late in June,mid June.I was living at the house. My wife brought an action to have me removed, charging that I was harassing,etcetera.As the children well know,these allegations were not true.We never had a hearing into the merits of them.I went before the court at that time on a petition to set a date for a hearing on the merits.Before I knew what happened,I said to the Court,"My father has a terminal illness and it's my intention to go rr 59. back north within the next few weeks."I agreed without a hearing'on the merits and the allegations, that 1 would live on my boat and continue to use my office at the house from 9 to 4 or 9 to 5, whatever it was;which I did.I came north on . papers at 4:30 one afternoon to ,appear on this question you're gettinq at,as to my'vacatingHerron the house.Judg~..' /issued an order after I said 1 was coming north,saying I would vacate subject to this agreement.When I went down for the hearing the basic question was continued. The attorney that was there with me said on the other hearing to vacate that there was no contemp involved.When~we got before the Court;he .t spea wouldn't allow Francis s~,my wife's attorneYI or my attorney to any great extent.He said, ,"1 issued the order.If you don't move out, Wednesday.. I was 1atar served by hand with \ ~On December 3lst I was served with pap~rs requesting that I appear at a .hearing to set a date for a hearing on the divorce petition.That was on a Tuesday or returned-on December'30th. my grandmOther's death on Labor Day.Ica1i1~up t~wo days after that,Labor Day of las't year. I was here through my father's death ~nd :!z0(>oJ>a:z'Z'Ill.. ie., z i•~~ :J Zt-:II Q .J0( UQ ::I., ~III•II:~IIo.. 1I/II: t-Il: ::IoU oJ0( UiII.o ;,. .. • • ,e I will cite you for contempt".I did move out. Does that answe • ·' o THE COURT: A Q A' o A o A o A your question? Yes it does. Who was the Judge? In.Dade County,Judge Herron. You indicated that you graduated from law school,is that correct?' That's correct. Did you ~ecome admitted to any ~ar? I did not.I never applied to take a bar . exam~.and I never took a bar exam. Are you familiar with the fact that these trusts are administered under Pennsylvania law? I am,yes. Have you ever used the income from any of these trusts directly or indirectly for your own benefit and support? That's a pretty technical question.We have until just recently run everything thro'ugh a joint account.14y wife I s income --she didn't have any income from these two trusts until her mother died in February of I 75.I assume you mean from the Baker Estate Trust and these trusts as well? o. ,0 A From the two trusts in question? From the two trusts in question?~~ntO=our pool '\ ~went income from the trusts.mv income earned;I '•. I was working for Cyclops and Hagen-Stone.I .have in the last ten y~ars taken capital gains in excess of $200,000.00,$300,000.00,including the custodian accounts.So we have pulled money from the accounts,went into a hodgepodge.Is that the legal term for it?It went into a joint account,so I don't know how I can answer ,your qu~s~ion unless we traced everything all., the way through. Have you ever ~sed funds that were your wife's ."." fu~ds deposite~into the joint accountfbr your own benefit? .-For my..persona~benefit? And support? I sUPPQse it's.possible that I have: You spoke of earned income.What was your earned income last year? Last year? Yes. I did not have earned income iast year.When I left Hagen-Stone in 1963,I saw that Hagen-Stone ,some was getting in trouble .-..1 years before they did,.. I contemplatedrnoving to'Peabody and Company. I started in with.meeting there and came home and discussed it with Amy Anne and so forth. Working as a stock broker was not what I wanted. to do in Miami.I contemplated going to New York 51. -------.,...----rr---------------------------------------.----I 62. • and made a couple trips there talking to people on the street.We wanted to stay in Miami. I suggested that I.thought maybe I could do ~ better on my own.By that I meant spending nearly fulltime handling investments for her and for me,joint investments plus the childrens' other things • What were those other things? a company called Air Equipment and Air Charter service Company as a backer and a director in that. I have invested in the last three or four years and ago;/1 am one o~two people who backed a man in a foreign trading com~any,J.A.Williams and ,- I have over the years spent and made a number of tripp to Pittsburgh to talk to people at the Union National Bank.I talked to Amy Anne's mother and father and tried to help in their medical probl~s. Could I fairly summarize your testimony on that question that you have had no earned income I was involved inCompanyofGeneva,U.S.A. ~....-:>..>0CI.....A... 0l-e:!:iCI«~ -~t fl ::I... I( ~::I :::l., :J:to-r-N iiia:IIIto!II:<l..III'a: l-e:::l0U ~ U~0IL0 .'. •since 1963? A If you define earnedincome,I oan answer that. o Let's say that you have indicated that you are familiar with federal tax laws as defined by the Internal Revenue Code? A I would saY that's ---ves.in terms of salarY II 63. working for someone else earn~9 a salary, " that's correct. 0 A '.A HR.KOPF: , MR •.JULIAN: You ,are a resident of Florida? Yes sir. Your Honor,I have no further questions of this witness. 1 have no questions. r.ffi.ZELT: . -1 have no further w,itnesses.,I I I THE COURT: MR.UMr4ER: You want to put some testimony in . on the Baker,Trust? Yes.I have several questions for Mrs.aitter• AMY ANNE RITTER HAVING PREVIOUSLY BEEN-SWORN,.I I I TESTIFIES AS FOLLOWS:1 DIRECT EXAMINATION BY MR.OMMER;t;:;.;;::;=.;:;,.;;;.......;;;====~.-;;;.__;......""--~__t THE COURT:·--The t~stimony particularly for th1 record has to do with the Walter ":-~ Q A H.Baker T~st for Anne Baker Weimer,filed at No.63-70-311. Mrs.Ritter,have you discussed with John Eclunent,Union NationalcBank's fees for the trust under the AnneA.Duncan'l'rust agreement? He has written me a letter,but 1 have given him no answer. I t l'\ \\ \.. ___-----IJ'-------:..._-'---t Q Will you tell the Court your understanding of .what Union National Bank's income compensation is to be? It is my understanding that there are letters on file from my grandfather that the compensation to the bank was to be 2%throughout the duration of all the family trusts.I believe in testimony brought out with.my nephew,Duncan,this was discussed.I was not here,but it's my under- standing that that was discussed.- You're not aware of any different treatment of family owned security as opposed to non-family owned security?--- I think family owned security was charged at .2%.' lie're sp~aking nOt'1 of the Anna A.Duncan Trust? That's correct,Your Honor. It's all the family trusts was my grandfather's agreement with the bank• 4. .Do you recall that the old so long as Anne A Baker l'leimer,your mother was the co-trustee, the fee then was 3%on all non-family owned security? Yes. I I-. • Q A A 65. Are you aware that the fee agreement provided that at your mother!s d~ath that there would. be no further individual co-trustee? I don'~really understand that,because mother is the last one named.It certainly appears to me .that there is a'long history of individual co-trustees.I don't think you can say that ..with mother's death that that cuts off the indivi al co-trustee. This isn't our position.We're not proposing that. Grandfather was operating on a matter of living people. That's within the discretion of the Court.Would .you be opposed if.the Union National Bank would adhere to their compe~sation letter and be compensated on a basis of 2%on the income earned ~and family owne~securitt~s /5%on the non-family ••...owned securities? .wait and I think I would have to/see what happens to my nephew's portion,what the letter~from the bank \'fere and what my grandfather's compliances were. That's not 'in issu~.They're concerned with .principal compensation.The bank is not at all concerned with principal-compensation here.We're only talking about the current income compensation I said I·would have to think about it.I don't •THE COURT: I MR.tlMMER: THE COURT: MR.UMMER: THE COURT: MR.ZELT: ~6. want to sit here and give you a firm answer one way or ,the other. I thought you were going to talk about the Walter H.Baker Trust. No,Your Honor.I presented a petition on the Waltar H.Baker Trust on behalf of·W1lliam Stewart to resign as co-trustee.That's the only basis for the Union National Bank's involvment there.The onl~ matter we want to clarify here is how the income compensation is going to be allocated. Was the income allocation for bot~ Walter H.Baker and Anne A.Dunca: identical? No. Do you have any questions Mr.Zelt ? NO,Your Honor. CROSS EXAf.1INATION BY MR.JULIAN: Q Mrs.Ritter,assuming that Mr.Rose is appointed co-trustee on the trust where Union National Bank would receive 5%as a fee on the income,•••. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA. ORPHANS'COUR~DIVISION Wray G.ZeIt III,Esquire,repre- senting David Michael Ritter and William Jeffrey Ritter Robert Y.Kopf,Jr.,Esquire,rep- resenting Amy Anne Ritter. James W.Ummer,Esquire,repre- sentingThe Union National Bank of Pittsburgh. THE HONORABLE PAUL A.SIMMONS, JUDGE OF"the said Court. ),No.311-of 1970 )No~63-70-311 ) ) ) )No.,63-70-311 ) } ) ) )NO.373 of 1963 )·No.63-73-1032 ) ) } ." '. APPEARANCES: ANNE BAKER WEIMER. WALTER H.BAKER,Deceased. IN RE: IN RE: ESTl\TE.OF Ii BEFORE: II:~e:oL•I: t-I::loU ..I«ij ii:ILo t=oit- Il HEARING ON PETITION'FOR DISCHARGE OF ):NDIVIDUAL TRUSTEE AND ~CONFIRMATION OF APPOINTMENTS OF SUCCESSOR TRUSTEES:PETITION ij FOR APPOINTMENT OF ADDITIONAL TRUSTEE:AND PETITION FOR Q APPOINTMENT OF CO~TRUSTEE:l., %'~ 01 z IN RE:aI-III Z WALTER H.BAKER TRUST :I:•~FOR ANNE BAKER WEIMER. .'ANNE A.DUNCAN TRUST FORz•:- ;: II! Z ZIIIII. :f· • '"I I • •• ~ Eugene J.Julian,Esquire,guardi and trustee ad litem for minor children,who are not sui juris. ______tt__T_I_ME_:""'--F_e_b_r_u_ar_Y_9_,_,_19_7_6_a_t_l_l_:_5_5_A_.M_._~~ J INDEX TO WITHIN TESTIMONY WITNESSES:K Kopf z --zeIt J JUlian 'U ...-Ummel;' Direct Cross Redirect Recross 23(K)26(Z) ~30 (J) 3,1 (Z) 3 (K)6 (Z) 13(J) l6(Z), 66(J) 67 (Z) 56(K) 63(U) 34(Z)39(J),43(Z)43(K) 42(K) 44(Z) .,:uiit-en ~David Michael Ritter 0( §a:::l., x~William C.RitterIII iiiII:III~Amy Anne Rit taroQ, IIII: t-a:::lo·U...0(ot:II.o 4 Z 4>...>-~Amy Anne Ritterz-.'Il. ZeItz~Evans Rose(Jr.0( ~ • 2. MR.UMMER:Your Honor,I am James W.Ummer and I represent the Union National Bank,the surviving trustee I under the trust indenture of Walter Baker for Anne Baker Weimer. I would like to present a petition to discharge the individual Amy Anne Ritter as the income In the other share,it would continue for the benefit of Amy Anne Ritter. opposed by anyone. trustee William G.Stewart,who no longer wants to serve as the individual trustee.I would like to ask your honorable courtl ~to determine who shall serve as the surviving individual truste • <>~This trust separates into two separate trusts;one for the•3" 3t benefit of Walter Weimer.Walter Weimer has recommended the 3" ~appointment of Joseph Kniseley to serve as individual co-trusteec:I i•with Union National Bank for his share of this trust.To the... 3l ~"knowledge of the corporate trustee,this appointment isn't II:..ell a oJ<II~g ~beneficiary has recommended the appointment of Evans Rose. /::til • • I . If it please the Court,I would likE• •Evans Rose,as I understand it,accepted this appointment.Two II:III~of the sui juris children of Amy Anne Ritter have recommendedaII. II.=the appointment of their father,William Ritter to serve as ! ~co-trustee.The Union National Bank has no objection to the oil~appointment of the individual trustees,and I would call thisII.II. C to the Court's attention. to enter this petition for the discharge of William Stewart and pass it up to the Court. THE COURT:This has been filed of record downstairs? ------1-------[__ ------,--------,-,-,----------------------------------,--------------.---------. MR.UMMER:It has. THE COURT:At this point we are considering I the Walter Baker Trust filed at no.63-70-311,formerly 311 of 1970.At this point do you want to take ~y testimony or have you anything to say about t~e "Walter Baker Trust Mr.Kopf? .. .-')..' Yes I do,Your Honor• s~~~your position please. .'.''May it please the Court,my name Mrs.Ritter,would you please give the Courto MR.KOPF: TIlT;COURT: MR.KOPF: is Robert Y.Kopf,Jr.I represen·t Amy Anne Ritter who is the vested income benefi~iary o~the 6aptioned trust.Mrs.Ritter has proposed the appointment'o'f Evans Rose,Jr.as individual co-trustee of this trust.May it'please the Court,I would lik~ to take Mrs.Ritter's testimony with respect to that proposed ui appointment,. IeIIl-ll:a~'THE COURT:All right. I: 1-,II:-'8 AMY 'ANNE RITTER CALLED AND SWORN: oJ <II~DIRECT EXAMINATION BY MR.KOPF:..a .. :II..) ):•:II;z "a 2C~c=2 i•..~ to=•~II:t-Il a .I<§ a ::I., :z:l-I"N • A your full name and address? Amy Anne 'Weimer Ritter,4101 La Playa Boulevard, Coconut Grove,Miami,Florida. Q Are you the income beneficiary of the \ialter I ~--------I--------B_a-k-e-r-Tr-u-s-t-u-n-d-e-r....,..-a-q-r-e-em--'-en_t_t_o_w_h_i_C_h_Mr_._UI11_mm__e_r_wa_ s -t-__.....-.I referring? 1 AI.~Q '1,•A 'Q .. 2 A\.~...:>4- ):Q~ ,2 2 ".. Do "2C ," I-A-.~z :i~Q.. ~ I-A5:•C.1- (,1 "c.. l: c 2~.,. co Yes. , Have you proposed an appointment of a new individual co-trustee in that trust? .Yes sir,I have. ... 'Who have you proposed? Evans Rose,Jr. How did you happen to'decide to appoint Evans Rose,Jr.;how did you meet him? How did I meet him? Yes. I met him through a"friend that I've known for ~30 years,who recommended him as a highly respectable gentleman and knowledgeable of the law of.Pennsylvania where this trust is. 0' II•THE COURT:l-ICI•I 1-'AII:::0'(. l-Q ;; ~~...•( A Is Evans Rose,Jr.an attorney? Yes ,sir. Why do you feel that his appointment would enhancE the administration of the trust of which you are the income beneficiary? I think a second opinion would be helpful.I think Mr.Rose is knowledgeable of Pennsylvania law and that it would help in the better admin- istration of the trust. Q Are you aware of the fact that your oldest sons have proposed the appointment of your husband ~ iIIl~--L-..J as the co-trustee of this trust? 5. A Q ~ A•TIiE COURT: <~,z.... >...>-IIIz THE COURT:z III...., i "0l;zi:A•<~~ ~Q I •ii1, I ~Ul C .J< r Q A I Q::l.,QJ:l-I'l\I fAII:iii~Aa: 0LIIIIE l-It THE COURT:::l0U ~'u A;: lI.•-0 Q Yes sir. Do you oppose that appointment? I'm not particularly happy about it. Are you in favor of it? No sir. As between Mr.Rose and your husb d, ~Ritter,:who do you want? I want Mr.Rose. Have you instituted divorce proceedings against William Ritter your husband? Yes sir. Approximately when did you institute those proceedings? September of '74 ---no •••• '74 or '751 '74.It's been over a year. In what jurisdiction were those proceedings instituted?What state? ,A Q Dade County,Florida,Miami. Have you discussed with Evans Rose,Jr.assuming he's appointed as a trustee of this trust,how his fees as individual trustee would be charged? ~ ij CROSS EXAf.lINATION BY MR.ZELT:~II.o Q THE COORT:. • • A Q A Q <zco>~A IIZZIIIlL z THE COURT:oI-tJ Z ~A<•~ .=!:!II:.~ Ul Q .J<tQ Q :J.., x.."ClI A uiII:II~II:~MR.KOPF:IIIII: ~II::JoU A Q A II 6. Yes.He said on a hourly basis. ,Would that be on the basis of time expended in the administration? Yes. Did he indicate to you that he would not be charging trustee commissions on a percentage basis? No,nothing about that.. IJ', In other words,he •••• . Nothing to do with percentage. It's your understanding that he would not charge on a percentage basis? .Yes 'sir. Your Honor,I have no further questions of Mrs.Ritter at this tlime. Mrs.Ritter,your husband has actually handled the affairs of you and your family for a number of years;is that correct? Tha1;'s correct. Has he done ?o satisfactorily to you? Yes. • • o A Q A o I believe at one time you tried to invade the principal'of either this trustor the Anne Duncan trust for purposes of buying a home and you were unsuccessful,is that correct? Yes,because I needed theconsent of the children and their father told.them not,to agree with me. Who told you that you needed the consent of your children? back After much debating/and forth,the attorney for '.the bank• .Didyou consult with Evans Rose or a member of his firm at that time? No. Did you have somebody represent you individually, that is to say,an attorney's firm or any attorney apart from the bank or their attorney? Represent me for what? What I!m saying is,did you have your own attorney for those purposes 'in attempting to invade the principal? No.I simply talked to Mr.Echment,the man at the bank. Were your sons David Michael and Jeffrey living at that time? Yes. o.id they consent or disagree ,with the invasion of the principal? • 8. A Thej.r 'father sat and told them not to agree with -me. Q It·s your point that"they went along with what .,. You are represented though,or you have been .- No. ~. Would you say.that Evans ,Rose is your attorney in Pittsburgh? Yes:' ever interest depends upon his activity as truste He then.will be trUstee for you as well as what- P~ior to this? repre~ented for c~rta~n purposes by the firm of Rose,Schmidt and Dixon? In this,yes. ., their father told them to do? That IS ri9_ht. 'Did you tell them that they -should agree,that they should go alo~g with their mother? I asked them if they'~ould agree.I did not tell them they had to do anything.They are 21 and 22 and they got some minds of their own. A iii-AI:..I-~Q,..G: l-ll:joo Uo A...ce ij i:Q ILo ,Q •:z•)I-): • Azz =z ~CJzi~Q~-. • I A Q I assume he will be trustee for me and my childre • The children are included. During the course of your husband's management of your affairs,what has he done ---let me rephrase that he haS"actually handled the ... • '.',- I, i A Q A •z Q'•:0 >•2 2 IIIDo Z~\5z: i~A~ Ii"II:I!g;A..'"It: l-ff:'::>Q.u'..c:l;~QILa A Q A Q affairs of some of the trustsin your family • .He is the co-trustee in anot.her trust that my grandfather set up. far I think it was your statement that as/as you are concerned that has been handled satisfactorily? Yes. Were you aware that he had convinced the bank to change an investment recently from one security the to another that would actually provide/trust -with more income? Yes.It was discussed.for some time with them. They called and discussed it with Bill and I assume they went ahead and did it. Does it surprise Y9U that he would try to get income more/into the trust rather than develop the growth of the security and thEo)'estate? I donlt know that it surprises me,no,but he " .c~rtainly ~alked about increasing the value of the corporate since it was not done very well. OVer the course 9£the trust you mean? Thatls right. Most of the assets of this trust that we're talking about and the other two trusts are in Cyclops I stock? Tl1atl s right. Were you aware of the situation with the --- ;- ---------yy------------------------------------- o. are you familiar with the operation of the • • ... • A Q A ..0 2.. ) ;;-••.;I :A• :ICoI-~ :i ~0.<~ Q A Q Cyclops Corporation and their present corporate or financial picture? Am I familiar with it? Yes. Yes·,fairly. Coul d you tell ine the book value of a share , of common stock of -Cyclops Corporation? C' .The book value is somewhere around 40,but it's. not s~llinq for that•. . To your knowledge is Mr.Rose at all familiar with that corporation? I really don't know.I think he's a disintereste .party,which may be very good. Because there is so ~uch Cyclops stock tied up in these trusts.,do you still believe it would be bette~to have somebody not familiar with Cyclops Corporation as a trustee? I think the children and my interests would be best served in someone not emotionally",involved under ,,;.the circumstances.I don't think Mr.Ritter is the best choice. he You feel the reason/is unaccep~ble is because of his relationship with you? That's right.I don't think I want my exhusband cont~olling my finances. You filed for divorce,but you don't have a divorc , do you? A Q - •I .4 2.... )_.•.,A.) IIli ~.QII"D..i CoI-0;;; i A!II.....'\.<~ .:Qu•ii:I-A"0 ".oJ.:Qii a:J.. ;:...•". I l'Ii fil-I: 0)..IIII: I--=-0.,)A.J....( :j ii:..0)•MR••KOPF: 11. I am trying,if he will stop procrastinating until I go through with it. We do know that thus far handling the various affairs"which includes,I believe,the income tax returns.and all the financial affairs and , investments of your family,that he has done so satxsfactorily? Yes. Has he ever charged a fee for anything he's done? .No. None whatsoever? No. If the Union Bank were to step aside as trustee, .we would then be left with a trustee,to wit: .Mr.Rose if the Court agreed with your petition, that was 'rather'unfamiliar wibh the Cyclops Corporat,ion,do you agree? I think Mr.Rose is .intelligent enough to learn about it. Your Honor,I object to that quest on. The trust instrument states there shall be two trustees and one shal be a corporate trustee.I think that is an unfair question. • MR.ZELT: ~<>~)-a&: &:~THE COURT: " 12. Because we have this situation problem of going into the other ease,the Union National Bank may decide to withdraw leaving anothel corporate trustee who is not famiJiar .with Cyclops Corporation.Where the Union National Bank had been with us ever since the corporatior.•••• I think you're just bickering here •." You're entitled to the question because I think it's relevant to • f-a Iic..~oLUt: ~:)MR.ZELT:"o .:I~~THE COURT:L" A THE COURT: ~know whether a trustee understands corporate matters pertaining to Universal Cyclops Corporation.Wh ~n you speak of Cyclops Corporation,vou do mean Universal Cyclops,don't you? I think it's been changed. Did Universal Cyclops merge? It is strictly Cyclops Corporation. All right.It's a relevant questi~n. I've overruled your objection and -sustained your question.Go right ahead.It's relevant. 13. MR.ZELT:I have no further questions. '.j Iw1R ~JULIAN:#I have a couple of questions.I I am Eugene J.Julian and I represer-t ,the minor children by order of t~e Court as guardian ad litem. CROSS EXAMINATION BY MR.JULIAN: ..THE COURT:z..~ >=1II Z Z III Q, Go ahead• " z,~Qz .iIII... 3= Mrs.Ritter,you have four children that are minor children,is that correct?.,. A Q THE COURT:Under the age of 18. -. Yes •. Yes. .'These children,are they living with you at this time? The youngest,how old is.the younges't.? He's 10. That's Jonath~n? That's right. Jonathan doesn't understand what is going on t ~III a ..I~A a::I...Q ;:..,.. C'I '.~ III~Aa Q, ~Q I-~8 A ..I<: ij Qia:ILo'. here,am I correct? ;A I wouldn't tllink so,no.I don't know if his father told him about .it or not. Q A Anne Elizabeth,how old 'is she? She's 13,just. I.I • Q A Q A Q ..A :if..) >II:I:lIfa. :0:o...U:0:~Q<~ .,:Au c:~Q a...<o C::l~.. •AriII:~QII:I)..~A A Q A 1 The same would be true of her,she would not understand? I don't think she would. Christopher Burns Ritter,how old is he? 15. The same is true about that? I really can't answer that question.I expect that he knows where I am and I expect he knows why.Whether he understands,this is entirely a different question. Andrew Duncan•••? The same answer would hold for Andrew • Have you discussed ,this matter about the appoint- ment of a co-trustee with any of the minor children? No. Do you know whether or not your husband did? No,I don't know. Do you know whether or not these children have expressed an opinion one way or the other as to who should be appointed? Not that I know of sir. In your testimony you indicated that you feel that Evans Rose,Jr.would administer the trust in your best interests and in the children's best interests,is that correct? I think he would take everybody's best interests 11.4 • 15. into account,the childrens'~s well as mine. • Q A Let me clarify the situation:as of right now the income from the trust is paid directly to you,is that correct? That's right. Q There are no checks payable directly to the children? Not till +die~ As of right now are you using sqme of the income for the health'and welfare of your children? I certainly am. Do these children have any other income other L~an what,you provide? ~ .. Their father started 21 trusts,whatever you call .them.You will have to ask him. and he has accumulated dividends and he has exactly what you call them,you'll have to ask Mr.Ritter started 21 trusts,I don't know him;in Florida,with Cyclops stock that I gave reinvested them in more stocks,and I have ~ N (Witness asked to speak louder). ~~~~~Aa•~ ~~~ou ~<u~Lo•given more stock over the y.ears that each will have a trust that goes to them outright when one they're 21,each/of them. Q Are they receiving any money from these trusts at this time? 6. A No.Mr.Ritter has reinvested all of them. •Q Michael did when he was 21 and I assume Jeffrey will now that he's 21. Am I correct in assuming that your choice for co-trustee would also be what you consider to be in the best interest of these minor children? MR.JULIAN:Thatts all. MR.UMMER:No questions. MR.KOPF:No questions • A That's right,very definitely. asked to have him appointed? No,but he was recommended by a friend of 30 He was one of two men recommended to me in Yes. So you did not know him personally when you Why? Pittsburgh. Why did you select Evans Rose? FURTHER fCROSS EXAMINATION BY MR.ZELT: Q A A .. :Q~ ( :A•..IE::0(. V oJ~Q ii:..(0 .; i.;>... ~•:EZIi( L i.(...eo:I i•c~.. !:•II..!c..i:~ 3t\I • years. Q Why was he recommended? A As a lawyer,as a good one,and someone who knew about trusts.l -it-Q-------D-i-d_y_O_U_i_n_q_U_i_r_e_a_s_t_o__h_i_s_i_n_v_e_s_tm_e_n_t_e_x_p_e_r_i_e_n_C_e_?_-+-_--I • '. A Q A Q A Q A Q A Q A MR.ZELT: ·We11 I know he is trustee on,other trusts, so I assume he's had some experience. husband Isn't it true that your/has been associated with an investment company for a number of years and has made investments? No,he's worked for Hagen-Stone sligntly"'under ,two years.He has been in the stock market on his own.' Hagen-Stone is an investment company",·isn't it? Yes.Hagen~Stone has been added to or subtracted from something. Basically you personally know nothing about Mr.Rose other than your "friend recommended him? No.He was recomm~nded by another attorney I "-talked to who was not"interested in any trust work,also. Who was that other attorney? Jim Hard'$.e.' Who 'is he associated'with? .Reed,Smith,Shaw and McClay. I have no further questions. 17. il (Witness excused). MR.KOPF:May it please the Court,I would like to call Evans Rose,Jr.as a witness. • MR.ZELT: THE COURrr: Your Honor,I assume this testimo is going to apply to both trusts, -both estates? It's up to you gentlemen,if you agree to that. It's okay by me. It's agreeable,Your Honor. Is it agreeable that the testimon~ ..- nOl'J'taken is in,regard to t"lil.lter H.Baker Trust for Anne Baker 8. THE 'COURT:. MR.m-mmR: Weimer filed at 60-73-311 shall also apply to the trust-of Anne A.-Duncan Trust file~atn3-73-10J ? Your Honor,that is agreeable,bu~ I would then like to recall Mrs. Ritter "on a matter that compensat an agreement relating to the latt trust. You will supplement your testimon- Yes •. .MR.ZELT: MR.UMMER: I would object to getting into t I would like to get that on the • ord. I i l-1R.ZELT: MR.UMMER: 19. We're not talking about compensat.on of the trustee are we? As it relates to the income com- pensation. As it relates to the Anne Duncan 'rrust? That's correct,your Honor. You,',re speaking of the corporate trustee.Couldn't she reserve hex right,to have that considered at a later time? I think that Mr.vmmer is probably right.We ought to have specific testimony on both cases as to what Mr.Rose is going to collect if he "s appointed. This has nothing to do with that~ This pertains to the income that '" Mrs"Ritter will receive,how it will be buried,depending on wheth r or not an individual co-trustee is app,ointed.Am I correct? Yes.In just the Anne A.Duncan 'I ust. e. .: '. • ~:;:-:>~D.... ·uII. J I: II ::l .I0( U D":I... :r...r- Ol'l l-ll::loU...0( ij.:ILo THE COURT: ~1R.UMMER: THE COURT: MR.UMl1ER: 20. How it will be buried? Yes.If YOur Honor will recall, under.the language of the Anne A.' Duncan Trust indenture,it provides specif~cally for individual co- trustee to serve through Anne BakEr Weimer;and then provides for no further individual-eo-trustees specifically.In the absence of that provision,Union National Bali)c will cons~ht the exercise of this 'Court's discretion for the appoint~ng of an individual co-trustee.If tJ'lat is the case,they want to make it abundantly clear here that their compensationis based upon a situat~on where there would no~have been anv individual co-trustee as was con- templated at the time the trust was entered into. In prior years wasn't there an individual co-trustee in the Anne Duncan Trust? Yes.Compensation at that time wa based at a rate of 2%on the famil Ie • iI 0(:>..•tI :0::-UL :%-0to"z i'"«J :!zl-II C .J c( ~o :J.., ~.... ,-'III ui 'Il:IIIl-ll:oII.~ l-e: :JoU ~u.:II.o THE COURT: MR.UMMER: 21. owned securities. For the individual trustee? No.This is for the Union,Nation.zl Bank.The compensation was geare< I to whether or not there was an J indiv.idual co-trustee.As long as there was an individual co-truE tee, their compensation was limited to 2%on family owned securities, specifically Cyclops;3%on non- family owned securities.At the expiration of all individual co- trustees,their fee would stay at 2%on'Cyclops,but would go up 5% Ionnon-family owned securities. We would like to make it clear, if an .individual co-trustee is appointed,their compensation neve~- theless will go to 5%on non-f~ilv owned securities,which techinical~y under the language of that trust i~ the situation.It's only if the Court exercises its discretion tha~ it would be -advisable to have an individual co-trustee. II THE COURT: MR.,KOPF: THE COURT: MR.KOPF: THE COURT:', MR.KOPF: THE COURT: 22. Are you contending that there shotld be an individual co-trustee of thE Anne Duncan Trust,too? Yes. Do ,you agree that the bank has the right to have the fees accelerate to a greater amouht even with an individual co-trustee? I'm not prepared to agree with that at this moment.I can't make a conunittment like that for my client, without discussing it. All right.Let's go on with the testimony then and we'll see. Your Honor,if we are going to combine the testimony for both trusts,I would like topresent my petition with respect to the Anne A.Duncan Trust,as well as the original stating our position to the appointment of William.C. Ritter,which is signed by Walter ~'lo'Weimer. I 23. .EVANS ROSE,JR.CALLED AND SWORN: DIRECT EXAMINATION BY MR.KOPF: • • _.J "In"June of 1975. .... -,. Pa. How many years have you been practicing in the What is,your'occupation? Attorney. You are a member of what county bar? EVans Rose,Jr.,1035 Devon Roa~"Pittsburgh, Oommonwealthof Pennsylvania? name Would you please give your full/and address to the Court? All~gheny County. ., When were you first introduced to Amy Anne Ritter? Q <A.I ~z Q0(>...>-AnzzIII..Qi.o·.. 'JZ it•c A~ ~Qi..!!!Ac ..IC§QQ :J., ~.Ar-Ol you recall? What was the basis of that introduction,do My n~had been given to Mrs.Ritter as someone she had a legal problem in Pennsylvania,as up and asked for an appointment. After your meeting,did you ag~ee with Mrs. R~tter to accept the appointment as individual co-trustee of the two trusts in question? I did. She called mesomeoneshemightconsultw.ith. A. I iii QII:.IIIl-II0~I:..A,II:.:J.00... c(~.-I.ij ii:..0•, Q . o At the time you made that agreement-with Mrs. • •t \ I A A l24 • Ritter,did you discuss with her how you would charge fees in your capa~ity as individual co- trustee? I did.I told her I would undertake the trusteeship on the same basis as I had done for other trusteeships,and that is to make it ~tric~ly on a time .basis.That seemed to be,.~. she tnought that was fair and that was agreeable ~o her.. '." That's for both trusts? .... Yes sfr.. 'Did yo~,at that time and would you now go on record.as to waiving any right to any principal ~ompensation at the termination 9f the trusts based on a percentage of the trust corpus? -I will 'so wa'ive any right to principal compensaticn on that basis. Ax:e you the trustee or executor of any --trustee -.of any trusts in-Pennsylvania or executor of any estate~in Pennsylvania at the present time? I am .. Approximately how many trusts are you the trustee of at the present time? ..Active trusts,I'm running 21 trusts.In some cases there is another individual co-trustee, and in 'some cases there is a corporate trustee. o 67. A Q A J "e Q I A I don't think it's,a blanket 5%. .."':' Well,5%on non-family••••• Non-family.. Would'that influence your position as far as Mr.Rose is concerned? No sir.I st!ll-hold that I don't want my..~exhusband managing my financial affairs~ >~~>-..z~lome JULIAN:That's .all,Your Honor. II. Who was .n.0t? Ed Stockdale was not,Bill Stewart was not. Bill Stewart is related in some fashion? He's related by marriage"but he certainly is -family,has it not? {No. Ed Stockdale..Brad Miller was named or appointed The individual co-trustee in both of these not a chummy member of the family. -Who else was? ._~trust est~tes has always been a member of the A iaI-~CROSS EXAMINATION BY r.m~ZELT; I:III<~ ,.f •as successor trustee and Mr.Stockdale was not•• a family member either. MR.ZELT:I have no further questions. THE COURT:Just farmy understanding:in this :'•..,.. A 68. Anne Duncan Trust you,petitioned for the appointment of an additional trustee.Wha t makes you believe that an"additional trustee is negessary in that.estate,even though the t.rust doesn't necessarily 'provide for the appointment? ."It has been the history of the instrument to have an individual co-t1-"ustee,and I would like ~o"contlnue having one to offer and check the balance "on the bank., " THE COURT: A THE COURT: A THE COURT: .. ,......- Yes sir. That I S right. In other words,you think there ought"to be somebody looking in on the bank's activit.ies in the Anne A•.Duncan Trust? You're the only,we might say, beneficiary receiving income from that trust? You would like to sort of have son:~- body here to report to you as to what's going on? ---------------------.-------" 69. of the stock market. (Witness exoused). •THE COURT:Don't you think Mr.Rose should take the stand.He said what he 0(z0(>...>-1/ZZIIIL i0I-"z i•0(•~ ti'.l-II D... 0( ~Q ~., ~"CIl MR.KOPF: THE COURT: would do in regard to'the Walter hasn'tH.Baker Trust,but h,.pulde any statement as to what fees he would charge in the Anne A.Duncan Trust. Your Honor,I was under the impres sion that ·the testimony related to both trusts on all wi~esses. I was wondering if loir.Ummer wante~ Mr.Rose to take the stand again• • iiiI:MR.~IXoLIIIIX l-ll:~ou...oCUiLII.o c UMMER:Your Honor,whenever-Mr.Zelt said we should be considering the two Ri.tter trusts together,Mrs.'/.was the only person that testified prior to that.My question related to her as an income beneficiary,beca ilae it's an income compensation questi)o. I needed to have Mrs.Ritter's testimony introduced. THE COURT:You could state for the record tha Mr.Rose's compensation for both 70. trusts will be based on a hourly basis,is that correct. MR.UMMER: ~-.'THE COURT: That's my understanding. I will direct this to Mr.Rose: If you were appointed as trustee, in both these trusts,you would agree to operate on an'hourly basia in order to calculateyour fees? That is correct,Your Honor. That would include ~ining :up the'trusts'as well as the everyday administration of the trusts? That's correct. Is there anything else? No,Your Honor. I think in light of this testimony -- do you'have any indication Mr. Julian as to what tou think is right for the young beneficiaries and potential minor beneficiaries? Based on the testimony of both 'pro~pective trustees,it is our MR.JULIAN: I _ _.----ll...--_.-----.l.ji~..~-... ,. • --.,.. • . ~z..>..I>-"zz~lL i~"z %THE•c~ t=uil-II C ..IC§ C ;).., ! <.III iiilII:•l-ll: 0a.•I: l-ll:::l0U ,..I,.~0( Ui:..0 COURT: 71. position that both can equally handle it,which I cannot make a recommendation of which one.Ot.:r .position is that what's best for the minor children is what we are ooncerned with,and we feel that both would take care of the intereats of the children.So I don't have a recommendatrOn. After,con~iderin9 everything that has been presented here,I think it is go~ng to be in the best interest .of both of these trusts -in l!gheQf the fact that Amy Anne .. Ritter is the present beneficiary and in light of the fact that she is estranged from her husband,it would seem to me that it would not' be in the best interest to place her husband in a position where he would have control over her financ9s. Under those circumstances,the Court will appoint Attorney Rose as trustee in the Walter H.Baker Trust for Anne Baker Weimer and also in the Anne A.Duncan Tru~t .- 72. for Anne Baker Weimer.t'le will fo~lize our order.I think tha is in 'the best interest of all concerned.I think in any event the Court construes the language in the Walter H.Baket'Trust,the' words,"then beneficiary",in the Court's opinion.refers to the onl - known beneficiary as of this time and the other beneficiaries are conti~gent depending on whether survive 'their mother or their grandchildren,whether they in t survive under the circumstances. , I will have to leave that in the interest-of all concerned Rose will be appointed as trustee in both trusts to work along with the Union National Bank.I will - formalize this order in more spec fic language. Your Honor,in the Walter Baker Trust there will have to be two trusts under the Walter H.Baker agreement1 o~e for Walter B.Weim and that would be Joseph Duncan -. So there are three appointments that will have to be made. (Further discussion not reported). (PROCEEDINGS CLOSED) 73. i ! • • 74. I hereby certify that the proceed gs II.and evidence are contained fully and accurately in the notes ~taken by me on the hearing of the above cause,and that this copy is a correct transcript of the same •.. z..>...)0- IlZz· IIIlL ZoI-"zi..«~. ~u il-II Q...«~o:l., ~l'I••a: EoII.IIIa: l-ll: :loU ..I«§ .~ The foregoing record of the pro- ceedings at the hearing in the above cause is hereby approved and directed to be fi1e4 • ., • ~--.__.. J LAST ttLL iND TEST~T I,WALTER R.Bh!.ER,.of Le.lJioyne Ave;uue Extension,South Strabane ToftD.ship,Wasb.iIlgton COunt~7,Pennsylvanie.,do make,publish and declare this as and for my Last 'Will end Testamen,t,hereby ?evoking and ms.kiIl.gnull and voic sny c.D.C all former rills end testUlents by me E.t any time made. TIPST:I direct my Executors bereinafter n9.IDed to pay all my just debts and funeral expenses as soon after my decee.se as conveniently may be done. SECOND:Due to tbe fact that the housebold goods and furnishings .and otber ..e.rticles·of like kind contained in the domicile above mentioned are the ·propel'L.;'of my daughter,ANNE BAKER WEDtEH,which were acquired ;;:..,.... through inheritance from relatives or 'b3'gift .fron:her mother or .from me, ...-."---:.- no disp6siUonthereof is made herein. -.~:;-TEIRD:lIly and all·household goocs e.nd ·effects and other erticles of a strictlypersonu use and character "\7m.cb lDay .be:found "in _any otberplace..-...':'-. in which I am teIll:;:>orarily resicli..ng ·&tthetime of my death,I give and bequeath' for him and apprecicticn of his fili~·conduct as e ~eIDber of my household, unto my rife,moo L.BEEF.,c.nd in additiOD tbe:-etc any .automobile or JR. an expression of ~e.i':ection I give and bequeath ·unto ~y 50n-;~-law,DAVID P.WEIMER,:FOUR'l'E: aatomobiles lihich I may then possess. , ~I .... rk.~~I I .and it is .my wi-.sh thet vii tb this gift·be purcbEse so::ne article ·of'a strictly personal .use c.nd character. - 1 - ---_._._------_._---~------ -----------------------==:=;.;=~=========-~=.:!..-::.'::!'.-~-~;;;+sA:'!':.;.~\1\¥?£..~.~..~".g~.~j!£~..F¥~.~-~..•~.,,~~~"'~;~$=~.:_!§~._';;~ji!_?'Jo="'%_'".~ ,-"---.......----._----,...".....::--~------",-~:-:.,:.-\:.-_. .... ,'FTFTH:I direct ·that any and ill estate,i.n.heritance,trC:l!lsfer, or other taxes of a similE.!'nature found to be due and payable upon eny . .legacy,deVise,life estate,and remei.nder proVided in this Will,or upon any other form of propert:\'whatsoever which might b~he10 to be taxable as e part of'my esu..te,shell be paid by my ·Execut.ors or by !!!y Trustees from t~e principu.of my este-te,'so that any E.nd ill benefici~s \,'nc1er the provisions of this Will shall receive their bequest,life estate,or remainder 'ritbout any diminutions in E-oount or value occasione:d b)r sait taxes and r.ithout ~ting for the termination of any life estcte and without any reim- bur-sement of the life tenents therefor• .'srrrE:ill the rest,residue,and reme.iDOer of ;;ry estate:,real,.. personal and :mixed,of whatsoever'kind and wheresoever found,which I may Olm .or to which I may .be entitled at the time of my deatj,I give,deVise and bequeetb unto THE -UNION NATIONJ..L BANK OF .PIrTSBUP..GE,a corporc:.tion,and ED"VlAF.D L.STOCKDALE,.of Mt.Lebanon TOVi'Dship,Allegheny County,Pennsylvania, and their successors,IN TROST,HOWEVER,for tbe per50ns and for the uses and purposes hereinafter set for-..b,to-rit:-· (a)A ONF-BJ..LF (1/2)PART of my resicruc..!j estc.te,r.hicb shall include rrry property at 5T.L2 Nortb Bay Hoad,Mi2llli Bee-cb.,Florida:if tben the SC:l!lE shcJ..l be owned by me,shill be set apart as ~sEpare.te trllst ~C the net·income therefrom shall be paid in monthly or ether convenient pa:ymen'ts unto my 'rife,mIJM.'1.BA7,~,during her 1.;fetiJne;in addition to such inco!:!e payments,the TrJ.stees ere authorized to 'use e.t any T..L.U!e acid from time to time so much of the principal oftbe corpus of t~e ~~J.st as in their discretion mey be deemed advise-ole or desirable fOT b·::r-mc.intenance,support, co~fo:r-t and welfE..re,a~d I direct the Trustees to Eive e liber-~construction to the needs for wricb sucb pr~ncipc.l might 'be usee . .- .., -£.- I.I (b)My said rife,WILMA L.BAKER,shall have the right to occupy the property at .3712,J~orth Be.y Road,Miami Be~h,norida,for so long as she chooses toremaL~therein,and the exp~ses of'maintein;pg the property in habitable conCition,taxes,premiums of fife insu~ce,a.T1d other like charges shall be paid by the Trustees from the incoIDe received.In the event ,.-'she;,should not nsh to continue to reside therein,.the Truste~s...~pOh the receipt of her written notice of permanent removal therefrom,may sell the property to such'person or persons for such price and upon ,such terms s.nd conditions as:they deemsatisfactory~ (c)Dpo~the death of ::Jy said wife,nILMA L.BAKER,.the then. principal tberetofore beld for ber use shall continuE to be held :r'N TRUST by my saidT!"'J.stees-BDd the net income'tberefrom shall'he pc.i.d in mon tb.1:/r or other conv:enient payments to her SOIl,GJ1.P.PJ:.TTLeV.bl~,c'':'''-lllg bis lifetime and, upon bisoeatb,"the principal then remainingiD the tr.lstshall be divided into as many.shares '?-S ,there are issue of his liv~g at tbe time of r..i.s dee.th , who shall take per stirpes,and each sucb share shc.l:!.be beld and aciininistered as a separate trJ.st estate ~T}til such surviving issue respectively attain tbe e.ge of 'twenty-one'(.2l)years wne...'1 the principal shal:'be paic3 'to tb.em free and discharged of the tnlst.Snoilld any of such issJ.e o:~tbe said Gl.RFJi.TT 1eV_tJ~ elie before attaining the ~e of twenty-one (21)years,leaving issue to survive him,her or them,the Share of such one or ones so dying shall be diT..Lded to and .among the latter,distribution to be :iOlade as they severally -_"-the PrTe o.r-t.·wen"'~one (a'~ec"'''''s Sbo',",a'·-_D"'-o_.r-,The ~"..~,;~....g l'SS'''eaG._'_...-0';''--,)'-),)'~•......-.;-::::....\....V ••!~ of tbe said GARP.!.TT LeV.AN Cie before attai.."1in.&the 2,J€of twe:1ty-one (21) years ritbout leaving issue to su!"'\-ive him,ber or t':Je:n,the share of such -3 - .__...._----- one or o~es so dying shall be divided equally among tie surviving brothers a!ld/or sisters,as the case may be,ort..l,.e issue of any of them then deceased and sball be added to and become a pi:.rt of the trJst :states beld for them and the income shall be ~id and the pr~cipal distributed as a part tbereof. (d)Sbould my said wife,WILM1.L.BAKER,.predecease me,then and in that event I give,devise e.ndbequeath unto my said Trustees a ONE- ;.. .~ -' FIFTB (1/5)PART of my residuary estate IN TRO·ST for tbe use of GP.RRATT LeVAN, and the income shall be paid and the principal distributed in the same man.l'J.er as above ,provided for him in Su~SectioD (c)01 this ?aregraph end this provision shall be in lieu thereof• .(e)The remain:ing ONE-HALF (1/2)PART of my residUE-"7 'estate, and in .tbe event my said 'wife should predecease me,t.:len a FOUR-FIFTHS (4/5) ?£RT of the net'residuary estate,I give,devise'end begueatb unto my said Tr~stees to be beld by them IN TRUST as follows: (1)kn equcl ONE-FOURTH (1/L,)PlffiT thereof shall be beld fOT my daughter,ANNE B.e.KER WEIMER,and the net i.'1co:ne therefrom shell be paid unt.o ber in monthly or other conve1'lient payments dUring her lifetime) end,upon bel'death,the then priDcipeJ.,toget..l,.er nth Erly income accrued or accu=nulated thereon and remai.::ling unpaid to her,snall be Civided in equel shares to and among my three grcmdchildren bereinafter named a."1d shell be added to the tr~st e~tates bere~n£fter created for them and the income shall be paid and the principGl di stributed .as e part thereof. ~~e to the fact that ample provision for my said deugbter has.been made by other relatives of hers,inclu~g her motber ana myself,it bus see~ed to me advisable t~make pro~sion for her berF'0 upon tbe same basis as made for my three gTandchildren. - 4 - (2)An equal ONE-FODRT.d (1/4)PAR:'shall be held in trust for my ,granddaughter,AllY lJiNE WEIMER,,an equal ONE-FOURT3 (1/4)PART for my grenddaughter"JULIA v.V'iEIfu,rEJi,andan equal ONE-FOUR':'B (~/J.)?ARI':fo:r-my grandson,WALTER B.WEIMER,a!ld dUring their respecti"7e minorities as much of the net 'income as the Trustees in their discretion may deem necessary IDEy be used for their mrsi."ltenance,support,and educc.tion.Jilring such minoI'ity any excess income over and'above tbeir reasonable needs may be ac~ulated =:.nd invested by tbe Tr~steesuntil they sball'have respec~ivelY attained their majority,at.:wb.ich time the entire net income shall be paid unto them. (.3)As c.nd when each 0,;[the said gra.'l"Jdcbi1dren shall have attained the -age of forty-five (4S)years,,the Truste~s shall distrio-J.te to him or ber a ONE-'FOURTH (1/4)?A.RT of the prinC,ipalof weir respective share and a f~..her ONE-FOURTH (1/4),PA..'f\T thereof as 2nd Wb:D they shall have respectively:attained the c.ge of fifty-five (55)yea.-'""S.Yne!'eafter the income on the remaining portion of their principal share shall -be paid to them for ~.~l.~...e., (4)Upon the death of an~r of my sc..id grandchildren,that portion of bis or 'ber principal sbare then remaining in trust,togetner with 2-"1Y -i~COlDe accrued or aCc";L."ilulated and rem&~ning '.1Iidistributed,shall be dj"vi:5eci.per stirpes into as I4<an~'shares as t~er€are issue hiJD or her Si.l!'- viving ~d each sbere shall be held ~"1d administered ~s c separete tr~st until the :S:.L.-viYing i.ssue attai!l the age of twe::lty-one (21)years respectively lIlhen the principal ,shill be distributed to'them.Should any of such su:nriving issue die before havi-ng attc..inec the age of twerl ty-one (21)years,tbe share o~such one or ones Sheil go per stirpes to increase the shares o~t~e otber s~vi'::":-16 issue the!)1i~:Jg,c..T'Jd so on from time b tiiDe as often as E.deaL'"! occurs. - 5 - I I ~~~~=~~"~:'::'~:"'~_"~J 9, (5)Should any of mJ'srid grandcb.:Jdren die without .lea.\"ing issue.to .survive r.lim or her or,if leaving issue.to survive,ell of sucb should die bef.ore.attill~ing the·ege of twenty-one (21)years,the 'J...'1Gstributed principal of such one or ones shall be divided equelly to end E.I:long tbetrJ.st estates of the other two grandchildre:l end the issue per_. stirpes of either of them then deceased and shall be :leld,e..dLin:istered,-end di~tributed ine.ccordance with the provisions hereinbefore 1II&ce for them. (f)If ata!lY time or times .and froI::!time to time·the Trustees .in tbeir sole discretion dee!li it necessary or advisable to use any part or parts of the principal shares herein provicied for my 'rife,my ciaugbter,and for rrry three grandchildren for their maintenance,suwort,educetion,co~fcrt End v;e~a:-e,·.the ·Trustees are hereritb authorized so to do end they sball give a liberal construction to this directioriinasmucb as their comfort and ~el- fare are of prima-ry consideration to me..The income,and principc.l if found to be needed,of the sbare or shares of anj~minor ber:eficia-ies takiIlg hereunDer rosy be expended during their ml.nority by the Tn.stees ;n their discretion·for the purposes above enu:merated,·or mey be p~d unte the parent or parents having the custody of such one or ones and without the intervention of a gUB.roian or reference ·to the Orphans'Cou::-t ha,r-11g ju.risdiction. (g)D~ing the continUEDce of the tr~~ts berei~creeted,the p.:.;nci.pal sum or s~s of tbe trust funds end.tbe income t:hereof shall not be subject to ,or lieble for ~y co~tracts,debts,er~ag~er.ts:li~tilities or torts of.the beneficic:.ries re~pectivel~r DO~or berea.fter made,contr&cted, in~red or COTjlTj'';ttec,but shall be absolu.tely free froD the sE2le,and tbe. beneficiaries respectivel~c shall have DO power to sell,assign or encumber all or any part of tbe principal S~or sums of the trust funds or their interests therein·resp~ctively or tbe income thereof,or to ~ticipEte said incowe. - 6 - .- SEV]!~Trl:I nominatej constitute and'appoint ~WARD L.STO~I.DA1E)of Mt.Lebanon Township,Allegheny County,Pe;t:lIls~ylve..."'lia,~and THE UNION NATION.A1· BAN!OF PITTSBURGH,.a corporation,~dtheir successb~s,to be the Executors of t:us tty Last Will a::1d Testam~t c...TJ.d to be the Trustees hereunder,a:-.o I give to my Exec:.ltors in the settlement of m~r estate ar:d teo m:r Trustees after iny estc.te has been settled,the following powers any c'r all of whi.ch may be' exercised as Executors or as Trustees if.fOUDd to be r.ecessa!J7 or advisable:- (1)To takeover and reU:.in unconve:-tet so long as tbey may ~ee fit ee.chand every i te;n of rec.l and personal property of which I msy be possessed without liability for depreciation in the ~~ue tbereof,and in their discretion to sell or otherwise dispose of all or a.I1Y of tbe same,or any sec~ties or property into wbicbthey IDEy be converted as hereinafter provided at public or private sales to:such pe::-son or persons for such price 'or prices anoupon such terns and COD ell tionsas ·tbey shclldee:n proper.In cese of any ·sale or other d.i sposi tion,or any liquida::::ion of any securities or property at any time held hereunder,the Tr~stees 2hall from tL~e to tL~e :invest S-.TJ.O reinvest the proceecs'in suc~stocks,'bond5 ,notes,mortgages or other securities as they shall deem to be safe .and \ti,3e i:J.ves~ents,a..'"'lC they shpij Dot be confined Dor restricted to s~ch i=ves~~ts es bF.ve been ~~de ·legc..l for fiduci~ries under the lai7s of tne CO!llJIJODweal tb of PenDs-jlv~i2. For the guidance of my TrJ.s.tees i~.the manag-=::Je:lt of this t!'"J.st estate,I bere.....:.tb express ine desire the.t not more ban e.ORE-FIFTH (1/5) PJ;..RT of my bterest in the UNIVEP.5lJ..-CYCLOPS ST;:;';1.CO?.PORATION e.s r~presented by the CO~1lon capital stock held he:-ei.L'10eT be sold solel~r for t:'e purpose of diversificetion of investments.As and wben it migh~seem edvisable,desirable -7 - ·.....~.--". or necessary to my Trustees to sell any part or all of the rem~ning FOaR- FIFToS (4/5)Pi...~T of t3e com:noncapitu'stock of ··tbe .~aid Universal-CY~lops Steel Corpora.tion,it is my desire that such proposed sale or sales shall .:'irst be discussed vii th my rife,VITL"U 1.BA..'t\.ER,if 5!-£survives me,~d Voitb ~;r daughter,Al"m~BJL~nIM.ZR~a.!1d their "IITi tten consent-~obt.e..i:led. '.The Tr.lstees are ;a.utborized end empowered at any time 01'from time to time .in tbeir sole discretion for any purpose ·to barrow money and for thE.t pllrpose to pledge or mortgage any of the assets or property then constituting the .fund end to execute and deliver any 2.:1G all !lotes,bonds, oblig=.tions,mortgages,assignments,and otber inst!"J.me"1ts and to perfo!"!:f.11 acts necessary,proper or conve:J.i.ent in connection thereritn,e.!ly and all such loans,pledges end mortgages to be made in the.sole discretion of my Trcl~tees ar.d for S".lcb amounts c.ndupon such terms as they shall deem p!"oper. (2)No p'.lrchaser of any sec'lrities c,r property a.t a!ly time sold or othen-.i.se disposed of by my Tr<lstees shall be under any responsibility 0:-liability to see to the e.ppl -lea-tioD of 8..'1J iDcc;ne or principel dist.."'"ibutea by them to any ~person entitled to receive tbe same.Q~er the provisions of this Will.In connection ~!ith the sale or tra.."1sfer of e..'1y securities or property made under the provisions hereof,my Tr~stees hereby e.uthorized to ey.e~clteand deliYer all ~~ch revoc~ble and irre~oceble poy,~rs of etto!"!ley, bills of sale,assignments,deeds,coiiveyc.nces and such o:ner instr.liilents e.s =ay be necessary or proper in asking sucb sale or tr~.sfers.The certificates for all shc.resof stock t:.:ld the title to ell real estete which f:r-orn.time to ti~e may be held by the Tr~stees her=Q~der may be transferred of record into tbe names of my T7~stees e.s trustees nsre~~der,or m2~·be transferred into tne 8 -.-.~-~~,;;P~;~·"-~-·--·---------~~---···_--------------------._~-- --..._-.-... Deme of the 'Domin,ee 'of tbe corporE.te fiduciary authorized by its Board of Directors to act ,in sucb capacity.Tbe v~ting power ~])oDal1sbares of stock cr other securities,&t any time held 'by my ~steeshEreunder shall be executed by:my Trustees in person or by proxy.If my TruE:.tees shall at any time bold or purd£se bonds at a price in excess of per,they shs..ll not be ....-~---- required,except at their option,to.amortize that part of the purcbase price in excess of par,but all interest received on saie bends may be treat.ed and paid out as income,or at the option of my TIilstee~eI!Y LTJ:come in their hands' may be used at ,the ·time of purch£.se to apply against that part of the cost of said bonds .which is in excess of par. (,3)The Trustees sball have power teo beld and menage eny such rec..l es~te,.make repairs c...'1d improvem'ents 2Ddmake leases thereof'to such tenants :for such period end <:.pon such terms as my Tr-~Etees in ·their discretion may dete~e,aneno lease by my Trustees for a term of five years or less shill be -terminated'qy.reason of the termination of tte trust before the expiration of the tern of the lease,but,in spite cf tbe te:'l!l.inaticn of the tr-LlSt,such lease shill remain in f"ill :f:crce and effect ciuring the term ?"'=::. thereof.My .TrUstees .shall hove power to receive End collect rents,intert:st a..~d otr!er income of ~d real estate or other trust property,using such legal proceedings as tbey may deem necessary for the ~urpose,and tbey Shall havE'power at any:time to sell:conYey and tra..~E:fer c.r::y or all real estc.te a..~d other .p~operty whicb they may bold as ~stees,cenveying and tran~ferring the same by deed or other in str-~ent in v.7i ting in sucb forn a."..,d witb such coven~"~s as my T~stees ~cy deem best,~~thout tbe C0nse~t of ~..,y court and v:i thout liability on the part of eny purcbaser to see·tr.,:.be applic2.tion of ~be purchase moner. 9 I I The Trustees.are GUthorizedand empov.rered to ent~L'1.to,consent to or oppose any corporate :r-eorgsniu.tions,mergers,consoliiations,dissolutions and .liquidations ~of,any corpor~tions whose stocks or other securities Sha.ll st atl;r time be held by them ,as part of 'the :trust under t1:.e provisions hereof) SIlO to mcke,consen.t to or oppose other .adjustments of and,changes in the capitti funds or property ccnstituting ·tbe trast propert?;tbey mc.y eAercise any ana ill rights of SUbscription with respect 'to any stocks,bonds or other securities included in the trust. ·(4)'The Trustees ;'1 me..king any distribution of principal of the tnist rund IIlay..make the said distrib-..<tion iIl money orir:.kind or pQXtly in money a:::lC pertly in kind. 3IG~:In the event tbe sEid EDWPf~L.STOC~ATY should predecease me or,s.lrviv'....ng me,be il.:lc.ble to qualify .as Co-Exec:.ltor'ana Co-T:-ustee hereUnder due to illness,'accident or iIlcapacity to act for any reason "hate:rer,.or,having gue.lified,be unai;Jle to perform the t3uties here~,~tb .''';. imposed,then and in that event my said 'tife,WILMA L.BA.l(ER,if she su.rvives me,and rrry said daughter,.ANNE BlLER FTM!:R,s~a11 hc:''\TE:the right to name s'U.ch individual as hi 5 succesSOT as !D~Y be sui.table to the corpor~te fiduciary herein named or its successor in office.In the event my said daughter sbocld predecec.se my said tife or upon the death of roy said da'..lr;hter if sbe is tbe survivor of tbem,then a majo:city in interest of ber iss'..le .-ino are then sill juriS IDay a"aD?time or from ti.me to time upon filLJ.g tbeir request or election in writing cb~~ge eitber or both the indiVidual a..'1d the corporate t:r.lstee ,.then in office.In tbe eVe!lt 0:failure of the beneficia=ies to nominetea 6'.lccessor individu~l t:r..lstee ~n acco::--de..i ce 1'i"i th tbougb provisions,then the corporate trJstee or its successor sball act solely na..~ed bere·~'1der.j~y successor co~orate t:r~stee nemed -10 - I I fi.....• .....-.~.~-~-.-...•....':-. hereu.'lder shall be a trust compeny or .a national bank authorized to do trust business,whether located in PennS)Tlvanie.or elsewhere,and shall have e. cs.pit.al of not lessthsn $l,OOOrOOO.OO and a surplus cf not less than $500,000.00 •.In the event that any change ofTr~stee or Trustees is made any time herein pro'~ded,the Tr~stees ~hose services are discontinued shall effectua1l]transfer or deliver over to·their successcr or successors all the property held in the trust estate and 'shell file an accounting of the ad- .IIli.ni.stration of .the trust in e court of ap'propriate j\:risdiction• NINTH:.No bond or other secu.rity shall be required of the individual !lamed as ExeCutor and 'as TrLlsteebereunder nqr any successor to 'hi m ~lected in accordance with the above provisions,a!ld the Trllstees,both i!ldividusl end corporate~,or any substituted Trustee or Tr~stees,shall hsve the right·.· to resign upon giv'..ng ninety (90)days'written notiCE:of such intention to ill:the beneficiaries taking under the provisions of this Wili.whether minors or adults. ill the .foregoing provisions 'ritn res;pect to the Trustees sball apply whether one or more trustee sb.8.1 be acting,regardless of whether the language herein contained s:tJall be .s.pprcpriate to a trllstee singul~in number or ·t.-ustees plural in nwnber,and .s-11 such provisions,shall inure ~the benefit- Dot only of tbe Tr~stees herein named,but s.lso to ell successors in said office. .rn \UTNESS '([~r,I,WALTER B.BAKER, e.nc Testa"Dent set my hend and seal this 11d:f.dey .L D.,19...:f1L.. bEve to this my Last Will O~~_ ~wJS~(SUL) Signed,sealed,p'olblisbed so de~la:-ed by tbe c.:>Ove na:ced testc.tor, .~:-',,-:....i::.:-0..~~:.?-.:....~-=::'?:f:~~~-:::='..._.'. -...~.'-?~ 11 '.•oe.;,,-;:..::-~·fi-=:._-,~:~_;._~:..-<......-::z..~~~-:-:~~~:.-'"'".:_~-:~,...~ .~=-::-JII>----.-..- ---;:. i'i1.1TER H.BAKER,as end for his LE.st WillB!ld 'Testalle!:.t,in the pJ:"ese."l.ce of us, ~ho,et his ~equest,in ~~s presence and in the preser.ce of eacb other,have hereunto subscribed our natDesa.s ritne>sses th.ereto • .Address:1:.2.I~~ .," ...""'_...._._U_.1._1.C>._...._··_.>J_......._1.n.__~._~~h os:e.puSt011 Jl':'C o j ;GLJ R JD~~Q.' Acdress:bp.I-·~.~ ~~---'- .....,-..~., -12 -