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Home My WebLink AboutOC1971-1082 - ESTATE OF GUTTMAN~u t1Jt QInurt nf QInmmnu 'ltus nf IIns4iugtntt QInuuty, 'tuusylunuin <Orp~nus·QInurt liutstnu J ) ESTATE OF Leo Donald Guttman a/k/a Leo D.Guttman, Deceased N 63-71-1082o._.--,;~_ Inthematterofthe First and Final Account of Howard S.Guttman and the Union Nat'l.Bank of Pitts.,Exrs. ADJUDICATION AND DECREE An now January e:t :z.,19~,this matter came on for hearing, audit and distribution of this session and testimony taken;and thereupon,upon due consideration thereof of the balance for distribution in the hands of the Accountant is determined to be $2,253J 701.00 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 ~N~~. Balance per account 1 Additional Debits -Audit Additional Credits -Audit Bolonce:1 $2,253,370.75 930.S7 2,254,301.72 600.2 $2,253,701.00 Deduct Clerk's Costs &Receipts,1 Attorney Robert F.Patton Margaret Bissell Guttman -Household goods in kind at appraised value,accountant to take credit for advance- ment 4,934.~0 2,248,766.50 Howard S.Guttman and The Union National Bank of Pittsburgh Trustees under the Will of Leo Donald Guttman for Margaret Bissell Guttman -Marital Deduction Trust A consisting of items shown on proposed schedule of distri- bution attached hereto and made a part hereof '!l,400,671.20 Howard S.Guttman and The Union National Bank of Pittsburgh Turstees under the Will of Leo Donald Guttman for Maury S.Guttman -Residual Trust B consisting of items shown on proposed schedule of distribution attached hereto and made a part hereof 848,095.0 848,095.30 NO BALANCE (. * 0"""» ~JA1 n :J Z n ~9 ~ ~0 :s- o s:::(1). i lti :J'3 0 ~ """ 0 0 r """:+ .....~ (1) t ., c" a 0 \ .... S· ~ 6'\ :r N := (1) ., i Ud -.- .tl;. ~tl; tl; ...f ;\ '."'" ,( ESTATE OF LEO DQNALD G11rTMANA/KIA LEO D.mITTMAN,DECEASED; NO.63-71-1082 PROPCEED SCHEDULE OF DISTRIB11rIOI; MARITAL DEDUCTION TRUST TRUST A (MARGARET BISSELL GtJrTMAN) 62.2862% RESIDUARY TRUST TRUST B (MAURY S.mJrTMAN) 37.7138% SHS. 300 500 683 STOCKS American Telephone and Telegraph Company Cleveland Electric Illuminating Company Texaco,Incorporated BONJl3 Common Common Common LEDGER LEDGER VALUE SHS.VALUE 15,125.48 187 9,428.22 15,909.67 311 9,895.81 19,678.73 425 12,245.18 SHS. 113 189 258 LEDGER VALUE 5,697.26 6,013.86 7,433.55 $100,000 50,000 $51,341 FV 53,828 FV 53,596 FV 74,267 FV 200,282 FV 47,398 FV 567,399 FV 376,818 FV 545,487 FV 107,162 FV 50,146 FV '.,' 'l United States of America Treasury Bills dated 9/12/74 due 3/13/75 Upper Darby Township,Pennsylvania 5.10% dated 4/15/74 due 4/15/83 NOTES Promissory·Note of Envoy Towboat,Inc. 4%dated 2/1/72 due 2/1/87 Promissory Note of Explorer Towboat,Inc. 4%dated 2/1/72 due 2/1/87 Promissory Note of Express Towboat,Inc. 4%dated 2/1/72 due 2/1/87 Promissory Note of Gutbro Barge Lines,Inc. 4%dated 2/1/72 due 2/1/87 Promissory Note of Gutbro Development Company 4%dated 2/1/72 due 2/1/87 Promissory Note of Jesse B.Guttman Towboat,Inc. 4%dated 2/1/72 due 2/1/87 . Promissory Note of Guttman Oil Company 4%dated 2/1/72 due 2/1/87 Promissory Notes of Guttman Petroleum Company 4%dated 2/1/72 due 2/1/87 Promissory Note of Guttman Realty Company 4%dated 2/1/72 due 2/1/87 Promissory Note of Guttman Supply Company 4%dated 2/1/72 due 2/1/87 Promissory Note of Martin G.Towboat,Inc. 4%dated 2/1/72 due 2/1/87 95,460.00 50,000.00 16,429.00 20,095.00 20,009.00 39,608.92 117,498.00 37,918.00 466,400.00 281,357.44 320,018.72 97,160.22 40,116.00 60,000 30,000 57,276.00 30,000.00 466,400.00 320,018.72 97,160.22 4°,000 20,000 38,184.00 20,000.00 16,429.00 20,095.00 20,009.00 39,608.92 117,498.00 37,918.00 281,357.44 40,116.00 ~ SHS. 169,036 FV 129,458 FV 6,000 FV 177,985 FV ., NarES Promissory Note of Mercer Realt7 Company 4%dated 2/1/72 due 2/1/87 Promissory Note of I>bn Valley Terminal,Inc. 4%dated 2/1/72 due 2/1/87 Promissory Note of I>bn Valley Terminal,Inc. 4%dated 2/1/72 due 2/1/87 Promissory Note of Thrif - T -Oil,Company 4%dated 2/1/72 due 2/1/87 Principal Cash Income Cash Advanced ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED NO.63-71-1082 PROPOSED SCHEDULE OF DISTRIBUTION (CONT INUED) MARITAL DEDUCTION TRUST TRUST A (MARGARET BISSELL GUl'TMAN) 62.2862% LEDGER LEDGER VALUE SHS.VilLUE 162,274.55 162,274.55 117,374.69 4,160.00 4,160.00 lO4,P.7.00 104,4.17.00 2,041,010.42 1,273,275.7.0 3,990.57 477.71 2,045,000.99 1,273,753.41 16,273.46 9,917.79 187,492.05 ~OOO.OO 2,248,766.50 1,400,671.20 SHS. '" RESIDUARY TRUST TRUST B (MAURY S.GUTTMAN) 37.7138% LEDGER VALUE 117,374.69 767,734.72 3,512.86 771,247.58 6,355.67 70,492.05 848,095.30 2 :<::> (n ::r.: (f)(0--:.. '.. ~=-)....~~:<:)_. r-- r- :J:'=:::0 .._..-_ _..__..-_. __._.-----_ _-_--_..-..----_-_..---.. $ . $. 19 ,A.A. In the matter of the !..~E.~.~~~?.X.~~~~. Account of ~9Y!.~F..~~.!.J?'!t.t.I}1~~..~~~. T.~~..V.~~Rn..N~j:;.'.l .•...»~!JJs:.l..E~I.E?t . Balance :. SCHEDULE OF DISTRIBUTION Balance per account....•............................................................................. Deduct Clerk's Costs &Receipts JLA.~y.~I.1;J.I?j..I..lg . Attorney ~.<?l:>.~.~.~..!:.!..X~~~?~. ADJUDICATION AND DECREE ~n t4r (@rp4nns'<lInnrt of mns4ittgtntt <lInnnty ESTATE OF And now ,19 ,this matter came on for hearing, audit and distribution at this session and testimony taken;and thereupon,upon due consideration thereof the balance for distribution in the hands of the Accountant is determined to be $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 wi1th 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. ...........................................p.~!::~~~~g . .............l!~R ..p.Rn~lg ..G~j:;j:;ID~!J ..~l~l~. Leo D.Guttman,.___---_..--_------_. 0-0 »>m n ::l Z en n ""'" 0 ""'"9 eI 0 C ::i ""'" (1) ...,...(1) :J = ""'"3 0 0 eI -0 ""'"'-+ .-+. ""'" t 4"\ (1) fa ... +-+ 0 0 ""'"' .-+. - N Q ""'"::i := (1) fa ==eI :-0 Sto4"\~ , to ?> ?> '*'• WILL of -,, LEO DONALD GUTTMAN ·; I,LEO DONALD GUTTMAN,of the City of Charleroi, Washington County,Pennsylvania,declare this to be my last will and revoke any and all wills previously made by me. ARTICLE ONE.I give and bequeath all my clothing, jewelry,furniture,automobiles and other articles of personal or -\' household use,equipment and ornament,together with any policies...-, of insurance thereon,to my wife,MARGARET BISSELL GUTTMAN,if she shall survive me.If my said wife shall not survive me,I give and bequeath such property to my son,MAURY S.GUTTMAN,if he shall survive me. ARTICLE TWO.If my wife,MARGARET BISSELL GUTTMAN, shall survive me,I devise and beque3th tg...J:.llLtx.ustees named in Article Six here6f,in trust,a fractional share of the residue---'--...;.--.- of my estate determined as follows:The numerator of the said .-.....~fP ----.---. fraction shall ~qua~_~h~valu~of one-half (l/g)...-E!'my~}u_sted,-- gross estate as finally determined for federal es~a~~t1?-x ,-----~--- purposes,reduced by any property or interests that qualify for-----,-------"---,~-~"-~- - -....---~~ the federal estate tax_marital deduction and that pass or shall~---------------...- - ---...:-. have passed to my said wife otherwise than under this Article of.....--------------_---.......-.------~------ my will;the denominator of said fraction shall equal the value...-------~~"..r , of my residuary estate.Such fractional share shall be determined on the basis of the values finally determined for federal estate tax purposes,shall inclUde,to the extent possible,only assets that,und.er the Internal Revenue Code applicable to my estate, qualify for the said marital deduction,and upon which there is available no foreign death tax credit,and sh!::.ll be undiminished bz...any estate,inhe..!'_t~~~~e,~Q.r .other death_t_~s. If my said wife and I shall die under such circumstances "I , ,", that it is impossible to determine which of us survived,it shall be conclusively presumed and this will shall be construed as if my said wife had survived me. The trustees shall hold,manage,invest and reinvest the trust property,shall collect the income thereof and shall distribute the net income in quarter-annual installments,or----------....- more frequently if the trustees deem it advisable,to or for the------- be~it of my said ~e during her lifetime.If the income thereof shall be less than Twenty-five Thousand Dollars ($25,000.00)per year,the trustees shall distribute to my said wife such amounts from the principal of the trust as shall be necessary to increase the aggregate distributions to my said wife,including income distributions,to Twenty-five Thousand Dollars ($25,000.00)per year.In addition,the trustees in their discretion may distribute to or for the benefit of my said wife so much of the principal of the property held in trust for her as they shall from time to time deem necessary or proper for emergencies involving her health,maintenance and support. On the death of my said wife,the trustees shall distribute the principal of the trust property t~such persons (including the estate of my said wife)and in such proportions r--~..---------...--_.•,..... as~aid wife ~y~y her la~~~t~~~ppoint Ey~p~cific reference to this power of appointm~DJJ In the event of her-_...-~ failure so to exercise this power,the remaining principal of the trust property shall be added to and become a part of the principal of the trust created under the terms of Article Three of this will to be continued in trust or distributed as provided therein. -2- in trust for the following purposes: " " ---------------------~~~~~~~~~~~~---, ARTICLE THREE.I devise and bequeath the balance of the residue of my estate,or all of the residue if my said wife.....-----.-.---_.-......---.._--,_.-....._--... shall not survive me,to the trustees named in Article Six hereof Until my son,MAURY S.------..---- GUTTMAN,shall reach the age of forty (40)years,the trustees---- shall distribute to my said son so much of the net income as shall not exceed the sum of Twenty-five Thousand Dollars ($25,000.00) per year.Any income in excess of Twenty-five Thousand Dollars- ($25,000.00):per year shall be added to the principal of the---,..........4 property held in trust for him.The trustees shall also-_.....-....._------...-.......-..- distribute to my said son so much of the principal of the property held in trust for him as he shall certify to be necessar for the establishment or continuation of any business in which he may wish to engage,but such distribution or distributions shall not exceed One Hundred Thousand Dollars ($100,000.00)in the aggregate. When my said son shall reach the age of forty (}..j.0) years,the trustees shall thereafter distribute all of the income from the property held in trust for him to my said son.The trustees shall also distribute to or for the benefit of my said son so much of the principal of such property as he shall certify to be necessary for any emergency or for his personal use,but such distribution shall not exceed in the aggregate the sum of Twenty-five Thousand Dollars ($25,000.00)in anyone calendar year. At any time during the continuation of the said trust, the trustees in their discretion may distribute to or for the benefit of my said son so much of the principal of the property held in trust for him as they shall from time to time deem -3- ,."' •..I necessary or proper for his health,maintenance and support. On the death of my said son,the trustees shall distribute any property then held in trust for him to his issue then living,per stirpes,subject to the provisions of Article Four hereof;if he shall have no issue then living or,if at the time of the death of the survivor of my wife and me,I shall have no issue then living,the trustees shall distribute the trust property to the children then living of my brothers.,JESSE B. GUTTMAN and HOWARD S.GUTTMAN,per capita,or the survivor of such children. ARTICLE FOUR.If any beneficiary of my estate is a minor,I devise and bequeath the share of my estate to which such minor would otherwise have been entitled to the trustees named in Article Six hereof in trust for such minor.The trustees shall distribute to the guardian of the person of such minor or, in the trustees'discretion,shall apply directly so much of the net income,and if the net income is insufficient,so much of the principal of the share so held in trust for such minor,as the trustees may deem necessary or advisable for the comfortable support,education and welfare of such minor.The trustees shall accumulate any surplus net income and add the same to the principal of the trust.When such minor reaches the age of twenty-one (21)years,the trustees shall distribute to him the principal of such share and any accumulated income thereon, absolutely and free from all trusts.If any such minor shall die before reaching the age of twenty-one (21)years,the property held in trust for him',including any accumulation of income thereon,shall be distributed to such person or persons as are entitled to his estate. -4- ·- ARTICLE FIVE.Except as otherwise provided herein, ••,t during the continuance of any of the trusts created under the provisions of this will,and thereafter until the property is distributed to and received by the beneficiaries hereunder,the principal sums thus held in trust for·the beneficiaries, respectively,and the income thereof shall not be subject to or ,liable for any contracts,debts,engagements,liabilities or torts of such beneficiaries,or any of them,now or hereafter made,contracted,incurred or committed,but shall be absolutely free from the same,and the said beneficiaries shall have no power to sell,assign or encumber all or any part of said principal sums or their interest therein,respectively,or the income thereof,or to anticipate the said income. ARTICLE SIX.I appoint my brother,HOWARD S.GUTTMAN, and THE UNION NATIONAL BANK OF PITTSBURGH,as executors and trustees of all trusts created by this will.In the event of the inability or refusal of my said brother to act or to continue as an executor or trustee,I direct that no successor shall be appointed.No executor or trustee acting hereunder shall be required to give bond or other security for th.e faithful performance of his or its duties. I authorize my executors and trustees and any successor or successors,in their sole discretion,to exercise the following powers in addition to those given by law: (a) (b) To accept,retain and invest in any real or ~ersonal property,including stock of The Union National Bank of Pittsburgh,without restriction to legal investments; To sell,exchange,partition or lease for any period of time any real or personal property and to give options therefor for cash or credit,with or without security; -5- .,.~......,j ~, (c)To borrow money from any person including any fiduciary acting hereunder,and to mortgage or pledge any real or personal property; (d)To compromise,arbitrate or abandon claims; (e)To make distribution in cash or in kind or partly in each; (f)To administer a separate trust for each beneficiary hereunder,but for convenient administration such separate trusts may be combined in one common trust fund,each separate trust having an undivided interest therein; (g)To make such elections,decisions,concessions and settlements in connection with all income, estate,inheritance,gift or other tax returns and the payment of such taxes,without obligation to adjust the distributive share of income or principal of any person thereby affected. (h)To conduct any business in which I am engaged or in which I have an interest at the time of my death for such periods as are deemed advisable with power to borrow money and pledge the assets of the business and to do all other acts which I,in my lifetime,could have done or to delegate such powers to any partner,manager or employee without liability for any loss occurring therein. ARTICLE SEVEN.All estate taxes,inheritance taxes, transfer taxes and other taxes of a similar nature payable by reason of my death to any government or subdivision thereof upon or with respect to any property subject to any such tax shall be paid by my executors out of the principal of that portion of my estate disposed of by Article Three,and all interest with respect to any such taxes shall be paid by my ,executors out of the income or principal or partly out of the income and partly out of the principal of such portion of my estate,in the absolute discretion of my executors,without reimbursement from or apportionment among the beneficiaries,recipients or owners of such property for any such taxes or interest.Notwithstanding the foregoing directions,my executors may decline to pay all or -6- .,,.......".... any part of the inheritance taxes with respect to any remainder interest created under this will if,in their discretion,they determine such action to be for the best interests of my estate. ,.I,, seal this IN WITNESS WHERE9F I have hereunto set my hand and _.J-11/~/f~I~~Ie day of ~8-eer,1967. (SEAL) Signed,sealed,published and declared by the above named LEO DONALD GUTTMAN as and for his last will,in the presence of us and each of us,who,at his request and in his presence and in the presence of each other,have hereunto subscribed our names as witnesses thereof the day and year last above written. i -7- ...{P~/-/~~ 1\ffi~auit (@f itxrrutnr (@r 1\bmtutatratnr ~.J itatt of 'tnnsyluattta }. C!Iounty of ~x ss: Personallftm~~e,the undersigned authority,a p..o.tary...p-ublic in and for said .HOWllRD S.GUTTMAN and DONAI1D 1.TIMSON,Trust Officer.ofCountyandState,appeared .~HE..UN:T0N..N:AT.:EeN:AIr··B~..-0F·.PI-T'FSOORGHf.····..who,oemg aUlY sworn according to law,deposes and says that they SMi1;he executorsor ~of the es- tate of ..LEO..])ON.ALILGllTTMAN ~..deceased,that the foregoing schedules constitute a complete inventory and appraisement of the real and personal estate of .kEQ..ll.o.:NAlJ)...GUTTMAN..., deceased,except rea.!estate outside the Commonwealth of Pennsylvania;that the figures opposite each item of real and personal 'estate in the foregoing schedules are determined and stated by the undersigned to be the fair value of said items as of the date of the decedent's death,based upon a ~3:r-just appraisement of each item made bithe above named Executor Administrator.·;i ~~~Sw f orn~~dsubscribed belf90re7~thi,J til}.~.~~IONNA~..O~:~JK~OF...~~.~~~~~~.. I ~~~~ay 0 ~......Exe-'Trust Officer I 1~:~cr~~,.\.~..:....·mo·~....·,..Notar.y..Pu.bliC n :c...M ~~~ ;:~~?. .ADDITIONAL INSTRUCTIONS Howard S.Guttman~~G'"l:z~.~~S 1.An inventory must be filed within three months after appointment of personal representative. §'~-;.,;2..A supplemental inventory must be filed within thirty days of discovery of additional assets. ~.0 -c 3.1 Original and 2 Copies and 2 RCRI-34,Under $10;000;1 Original and 2 Copies and 2 RCRI-33,~:;~..'Over $10,000,including Copy of Will;1 Original and 3 Copies and 2 RCRI-33,Over $50,000,in- ~~("')cluding Copy of Will and copy of Federal Estate Tax Return. (ii'UI WI REFERENCE FOR ADDITIONAL COPY Act of 1947 P.L.513 Sec.5.2,72 P.S.4844.2 3Jnutntory anb 1\ppratStuttnt .of the goods and chattels,rights and credits which LEO DONALD GUTTMAN a/k/awereof·LJro··'D·~··'GUTTMAN;···TIe·cease'd··..··················late of ....165....Ar.lington..All.enue.,...Spe.ers...Barough Washington County,Pa.,taken and made in conformity with the above affidavit. See Copy of Inventory Attached DOLLARS $2J732'29O.47 CENTS t?5-,7/-~/P-. .. r~~~~~~~~~-----=~~277------ I .,,-./cZ// \~ -\ :.Inventory and Appraisement IN THE ESTATE OF ' Leo Donald Guttman a/k/a .".Leo,..D.•.,.Gut.tman,...D.ec.eased ..... Filed ,,,,,19."". I J L',. ,.J1.', 'J.~~ Robert F.Patton,Esquire Buchanan,Ingersoll,Rodewald, Kyle &Buerger 1800 Oliver Building Pittsburgh,Pennsylvania 15222 .. •~jJ #,./p/ ~-5\) \I"tf __ l\\.())'.11--V~Vq"___~J .'._~ INVENTORY , I of all real and personal estate of LEO DONALD GUTTMAN a/k/a LEO D.GUTTMAN,Deceased, late of 165 Arlington Avenue,Speers Borough,Washington County,Pennsylvania. PERSONAL ESTATE SCHEDULE ~ Mellon National Bank and Trust Company Checking Account #451-5896 Guttman Realty Company Salary payment for October,1971 Guttman Oil Company Salary payment for October,1971 Reimbursement for automobile expenses for October,1971 The Travelers Insurance Company Reimbursements for major medical expenses Bell Telephone Company of Pennsylvania Refund of telephone charges previously paid Tbrif-T Oil Company Reimbursement for overpayment of interest on personal loan for 1971 Hi-Fi Investment Club #2 Proceeds of proportional interest Guttman Petroleum Company Payment of share of proceeds of liquidation of Mandis Company Guttman Supply Company of Sharon,Pennsylvania First and Final liquidation payment Guttman Supply Company of Washington,Pennsylvania Share of Federal Income Tax Refund received as part of liquidation proceeds Stocks 4 shares Cities Service Company Common @ 44 1/4 83 1/4 shares First National Bank &Trust Company of Washington,Pennsylvania Common @ 41 120 shares Global Development,Incorporated Common @ 6 •4,428.83 330.00 2,625.00 150.00 2,736.00 2.29 297.23 280.17 2,481.73 7,326.12 54.48 177.00 720.00 Stocks (continued) 1,000 shares Guttman Towing,Incorporated Capital @ 10.508 98 shares Texaco,Incorporated Capital @31 1/4 The following securities were covered by two Buy-Sell Agreements,both dated October 14,1969,between and among each of the respective companies,Howard S.Guttman and Leo D.Guttman.On February 1,1972,each of the companies elected to exercise their option under said Agreements to purchase their respective shares of stock owned by the Estate of Leo D.Guttman,Deceased.In accordance with the terms of the Agreements,the sale price for each of the companies'stock was based upon the net book value as of the close of the immediately preceding fiscal year,and such value was then increased by fifty per cent (50%). 250 shares Guttman Realty Company Capital @ 2181.948 100 shares Gutbro Development Company Capital @ 2002.82 50 shares Mercer Realty Company Capital @ 3380.72 100 shares Jesse B.Guttman Towboat,Incorporated Capital @ 473.98 5 shares GBL-7,Incorporated Capital @ 3370.60 5 shares GBL-8,Incorporated Capital @ 4185.20 5 shares GBL-9,Incorporated Capital @ 2940.80 2 shares GBL-lO,Incorporated Capital @ 5040.00 100 shares Guttman Oil Company Capital @ 5673.99 50 shares Guttman Petroleum Company Capital @ 7536.36 5 shares Thrif-T Oil Company Capital @ 35,597.00 200 shares Guttman Supply Company Capital @ 535.81 10 shares Guttman Fuels,Incorporated Capital @ 818.60 $10,508.00 3,062.50 545,487.00 200,282.00 169,036.00 47,398.00 16,853.00 20,926.00 14,704.00 10,080.00 567,399.00 376,818.00 177,985.00 107,162.00 8,186.00 ,.... ...,ill·' stocks (continued) 50 shares Gutbro Barge Lines,Incorporated Capital @1485.34 50 shares Explorer Towboat,Incorporated Capital @1076.56 50 shares Express Towboat,Incorporated Capital @1071.92 50 shares Envoy Towboat,Incorporated Capital @1026.82 100 shares Martin G.Towboat,Incorporated Capital @ 501.46 10 shares Men Valley Terminal,Incorporated Capital @ 12,945.80 40 shares Mbn Valley Terminal,Incorporated Preferred @ 150.00 Bonds $1,000 p.v.Washington Trotting Association, Incorporated,6 1/2%Subordinated Sinking Fund Debenture . Dated 9/1/69 due 9/1/77 @ 80 Interest from 9/1/71 to 10/23/71 Miscellaneous Guttman Supply Company of Washington,Pennsylvania Liquidation Proceeds: Share of accounts receivable with interest @4%,unpaid balance as of 10/23/71 Interest from 10/6/71 to 10/23/71 REAL ESTATE SCHEDULE REAL ESTATE IN PENNSYLVANIA MEMORANDUM OF REAL ESTATE OUTSIDE THE COMMONWEALTH OF PENNSYLVANIA $74,267.00 53,828.00 53,596.00 51,341.00 50,146.00 129,458.00 6,000.00 800.00 9.39 11,914.29 22.19 $2,732,290.47 None None -.l ....... 'Vd "00 N01:JN IHSVI/\ $"1111/\30 U31S103t1 0'\'\\1"11';1 ~il':lc:(\nHl,lt I'd ,........;) • 1-..1r •" J ... ) \J.f ESTATE OF LEO OONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED FIRST AND FI~TAL ACCOUNT OF HOWARD S.GUTTMAN AND THE UNION NATIONAL BANK OF PITTSBURGH EXECUTORS (~ ~i;~f<~;.- j ~:~C ~ ~~":--\ -~,~-::> ." "=>C"t::.....~ =-.::,....co .-~~ :::l i5 .~ :,:- :'i::s .:;:; ?...'--.::s ~c.-c' :~t\> ..".... :3 C> -.~ '"-::1 -""~...... -0 ~....~~.. ~'\N .. \ e.~ -.'::n ........... '".t'................ ".I~C'.~~&\~~ ::;'i....:;..,.. <.::~,N "=3.~~. 1 )..S ff.! ;:,: (', 0= ~~~J --J "...~, C?G')c' ~?:( BALANCE DUE -$2,253,370~75 r-~'·u r--..?~(n (,;...1/'1 V "'1 5 J !lJ tfJlL /.Y.U..,#!0._.,ffll HOW,.......-...~_. ;.1L!the within accou"r rr6.:'I""UW '-C'r,'\~()O ,W oonjirmatwn. ~...~~Jt~ lMoiRfftT and {:I,-,/t·~'"""1r~.'- Robert F.Patton,Esq. Buchanan,Ingersoll,Rodewald, Kyle and Buerger 1800 Oliver Building Pittsburgh,Pennsylvania 15222 (562-8800) -. 4;",•• ~ ~. ~•. i r~/. 1718'....'. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT mVISION NO.63-71-1082 ESTATE OF LEO roNALD GUTTMAN I A/K/A LEO D.GUTTMAN,DECEASED FIRST AND FINAL ACCOUNT OF HOWARD S.GUTTMAN AND THE UNION NATIONAL BANK OF PITTSBURGH EXECUTORS October 21,1974 SUMMARY SCHEWLE A PRINCIPAL -PERSONALTY Receipts Pages 5 -16 2,737,794 97 Disbursements Pages 16 -22 687,345 69 BALANCE 2,050,449 28 SCHEIlJLE B INCOME -PERSJNALTY Receipts Pages 23 -26 215,273 24 Disbursements Pages 26 -27 12,351 77 BALANCE 202,921 47 NET BALANCE 2,253,370 75 The Balance Consists of the Following:. -Principal -Personal~ '! Stocks , i American Telephone and Telegraph Company 300 shares Common 15,125Purchased3/29/74 48 i Cleveland Electric Illuminating Company 500 shares Common Purchased 4/1/74 15,909 67 Texaco,Incorporated 683 shares Common Inventory value 98 shares 3,062.50 Plus: i Purchased 4/4/74 585 shares 16.616.23 ,19,678 73 I 50,713 88 ,'-. - ",."••,• ! , ESTATE OF LEO OONALD GUTTMAN'! A/KiA LEO D.GUTTMAN,DECEASED Bonds United states of America Treasury Bills $100,000 dated 9/12/74 due 3/13/75 , Purchased 9/12/74 95,4f;/J 00 Upper Darby Township,Pennsylvania 5.10% $50,000 dated 4/15174 due 4/15/83 Purchased 4/3/74 50,000 00 145,4£:1J 100 Notes $51,341 face value 4%Promissory Note of Envoy Towboat,Incorporated dated 2/1/72 due 2/1187 Carrying value 51,341.00 Payments on account 34,912.00 Balance due .16,429 00 $53,828 face value 4%Promissory Note of Explorer Towboat,Incorporated dated 2/1/72 due 2/1/87 Carrying value 53,828.00 Payments on account 33,733.00 Balance due 20,095 00 $53,596 face value 4%Promissory Note of Express Towboat;Incorporated dated 2/1/72 due 2/1/87 Carrying value 53,596.00 Payments on account 33,587.00 Balance due 20,009 00 $74,267 face value 4%Promissory Note of Gutbro Barge Lines,Incorporated dated 2/1/72 due 211/87 Carrying value 74,267.00 Payments on account 34,658.08 Balance due 39,608 92 $200,282 face value 4%Promissory Note of Gutbro Development Company dated 2/1/72 due 2/1/87 Carrying value 200;282.00 Payments on account 82,784.00 Balance due 117,498 00 -2- •• ,.,11 A ESTATE OF LEO roNALD GUTTMAN A/K/A LEO D GUTTMAN DECEASED•'. Notes (continued) $47,398 face value 4%Promissory Note of Jesse B.Guttman Towboat,Incorporated dated 2/1/72 due 2/1/87 Carrying value 47,398.00 Payment on account 9,480•00 Balance due 37,918 00 $567,399 face value 4%Promissory Note of Guttman Oil Company dated 2/1/72 due 2/1/87 Carrying value 567,399.00 Payments on account 100,999.00 Balance due 466,400 00 $376,818 face value 4%Promissory Notes of Guttman Petroleum Co~any dated 2/1/72 due 2/1 87 Carrying value 376,818.00 P~ents on account 95,460.56 Balance due 281,357 44 $545,487 face value 4%Promissory Note of , Guttman Realty comp~ dated 2/1/72 due 2;1 87 Carrying value 545,487.00 IP~nts on account 225,468.28 Balance due 320,018 72 $107,162 face value 4%Promissory Note of Guttman ShPly compm dated 2/1 72 due 2;1 87 Carrying value 107,162.00 P~nt on account 10,001.78 97,160 22 $50,146 face value 4%Promissory Note of Martin G.Towboat,Incorporated dated 2/1/72 due 2/1/87 Carrying value 50,146.00 P~nt on account 10,030.00 Balance due 40,1l6 00 $169,036 face value 4%Promissory Note of Mercer Realty Company dated 2/1/72 due 2/1/87 Carrying value /169,036.00 P~ent on account 6,761.45 Balaance due 162,274 55 I -3- 17"& •..•- I ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUT'IMAN.DECEASED Notes (continued)-, $129,458 face value 4%Promissory Note of Mon Valley Terminal,Incorporated dated 2/1/72 due 2/1/87 Carrying value 129,458.00 Payments on account 12,083.31 Balance due 117,374 69 $6,000 face value 4%Promissory Note of Mon Valley Terminal,Incorporated dated 2/1/72 due 2/1/87 Carrying value 6,000.00 Payments on account 1,840.00 Balance due 4,160 00 $177,985 face value 4%Promissory Note of Thrif-T Oil Company dated 2/1/72 due 2/1/87 Carrying value 177,985.00 Payments on account 73,568.00 Balance due 104,417 00 1,844,836 54 Distribution (See Exhibit No.I page 28)4,934 50 2,045,944 92 Cash on hand 4,504 36 2,050,449 28 Income -Personalty Distribution (See Exhibit No.I pages 28 -29)187,492 05 Cash on hand 15,42Q 42 202,921 47 2,253,370 75 -4- "I.'I•..•, I ESTATE OF LEO roNALD GUTTMAN A/¥../A LEO D.GUTTMAN,DECEASED SCHEmLE A PRINCIPAL -PERSONALTY RECEIPTS 197 2 July 13 Inventory filed 2,732,290 47..Additional Assets 1 9 7 2 Oct.13 Three Rivers Bank and Trust Company 10 shares Common Stock (lost certificates)550 00 1 973 May 4 One lot miscellaneous household goods 4,934 50 5,484 50 I Purchase of Assets Stocks American Telephone and Telegraph Company Common 3/29/74 300 shares at 49 3/4 15,125.48 Cleveland Electric Illuminating,Company Common 4/1/74 500 shares at 31 3/8 15,909.67 Texaco,Incorporated Common 4/4/74 585 shares at 28 16,616.23 Bonds Upper Darby TO'WIlship,Pennsylvania 5.10% 4/3/74 $50,000 dated 4/15/74 due 4/15/83 at 100 50,000.00 United States of America Treasury Bills 4/26/72 $460,000 dated 1/20/72 due 7/20/72 456,375.90 3/15/73 110,000 dated 3/15/73 due 9/13/73 106,418.40 9/13/73 130,000 dated 9/13/73 due 3/14/74 124,137.00 11/29/73 50,000 dated 8/30/73 due 2/28/74 49,027.50 3/14/74 145,000 dated 3/14/74 due 9/12/74 139,401.55 9/12/74 145,000 dated 9/12/74 due 3/13/75 138,417.00 -5- -_..- I ,.,,,. I•..•- I ESTATE OF LEO roNALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED Purchase of Assets (continued) Cash disbursed to purchase the above assets General Motors Acceptance Demand Notes 8/25/72 25,000 at 100 12/1/72 6,000 at 100 1/2/73 4,000 at 100 4/18/73 1,000 at 100 2/13/74 95,000 at 100 Withdrawal -Savings Account Corporation 25,000.00 6,000.00 4,000.00 1,000.00 95,000.00 1,242,428.73 1,242,428.73 o 00 1 971 Dec.14 197 3 June 19 Proceeds withdrawn Mellon National B&nk and Trust Comp~ Checking Account No.451-5896 Inventory value Surrendered for Exchange Surrendered 83 shares First National Bank and Trust Comp~ of Washington,Pennsylvania Coman Stock Inventory value 3,403.00 o 00 Received in lieu of above 83 shares First D,yna-Corporation Common Stock Sale of Securities Under Buy-Sell Agreements 3,403.00 000 Promissory Notes received in payment of Securities (as shown on Inventory)covered by Two Buy-Sell Agreements,dated October 14,1969 between and among each of the respective companies,Howard S.Guttman and Leo D.Guttman $51,341 face value Promissory Note of Envoy Towboat,Incorporated dated 2/1/72 due 2/1187 (50 shares sold)51,341.00 53,828 face value Promissory Note of Explorer Towboat,Incorporated dated 2/1/72 due 2/1/87 (50 shares sold)53,828.00 -6- -----------------------------------, '.• ESTATE OF LEO roNALD GUTTMAN A/K/A LEO D.GUTTMAN.DECEASED • l'JII .. Sale of Securities Under Buy-Sell Agreements (continued) Promissor,y Notes received in payment of Securities (as shown in Inventor,y)covered by Two Buy-Sell Agreements,dated October 14,1969 between and mnong each of the respective companies,Howard S.Guttman and Leo D.Guttman (continued) $53,596 face value Promissor,y Note of Express Towboat,Incorporated dated 2/1/72 due 2/1/87 (50 shares sold)53,596.00 16,853 face value Promissor,y Note of GBL-7,Incorporated dated 2/1/72 due 2/1/87 (5 shares sold)16,853.00 20,926 face value Promissor,y Note of GBL-8,Incorporated dated 2/1/72 due 2/1/87 (5 shares sold)20,926.00 14,704 face value Promissor,y Note of GBL-9,Incorporated dated 2/1/72 due 2/1/87 (5 shares sold)14,704.00 10,080 face value Promissor,y Note of GBL-10,Incorporated dated 2/1/72 due 2/1/87 (2 shares sold)10,080.00 74,267 face value Promissory Note of Gutbro Barge Line s, Incorporated dated 2/1/72 due 2/1/87 (50 shares sold)74,267.00 200,282 face value Promissory Note of GutbroDevelopment Company dated 2/1/72 due 2/1/87 (100 shares sold)200,282.00 47,398 face value Promissory Note of Jesse B.Guttman Towboat, Incorporated dated 2/1/72 due 2/1/87 (100 shares sold)47,398.00 -7- •• ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN.DECEASED Sale of Securities Under Buy-Sell Agreements (continued) Promissory Notes received in p~ent of Securities (as shown in Inventory)covered by Two Buy-Sell Agreements,dated October 14,1969 between and among each of the respective companies,Howard S.Guttman and Leo D.Guttman (continued) $8,186 face value Promissory Note of Guttman Fuels,Incorporated dated 2/1/72 due 2/1/87 (10 shares sold)8,186.00 567,399 face value Promissory Note of Guttman Oil Company dated 2/1/72 due 2/1/87 (100 shares sold)567,399.00 376,818 face value Promissory Note of Guttman Petroleum Company dated 2/1/72 due 2/1/87 (50 shares sold)376,818.00 545,487 face value Promissory Note of Guttman Realty CompaIV dated 2/1/72 due 2/1/87 (250 shares sold)545,487.00 107,162 face value Promissory Note of Guttman Su,Pply CompaIV dated 2/1/72 due 2/1/87 (200 shares sold)107,162.00 50,146 face value Promissory Note of Martin G.Towboat,Incorporated dated 2/1/72 due 2/1/87 (100 shares sold)50,146.00 169,036 face value Promissory Note of Mercer Realty Company dated 2/1/72 due 2/1/87 (50 shares sold)169,036.00 129,458 face value Promissory Note of Mon Valley Terminal, Incorporated dated 2/1/72 due 2/1/87 (10 shares sold)129,458.00 -8- • "'I • 6,000.00 177,985.00 2,680,952.00 ----------------------------------..... • ESTATE OF LEO roNALD GUTiMAN A/K/A LEO D.GUTTMAN,DECEASED Sale of Securities Under But-Sell Agreements (continued) Promissory Notes received in p~nt of Securities (as shown in Inventory)covered by Two Buy-Sell Agreements,dated October 14,1969 between and among each of the respective companies,Howard S.Guttman and LeoD.Guttman (continued) $6,000 face value Promissory Note of Mon Valley Terminal, Incorporated dated 2/1/72 due 2/1/87 (40 shares sold) 177,985 face value Promissory Note of Thrif-T Oil Comp~ dated 2/1/72 due 2/1/87 (5 shares sold) Inventory value of securities reduced to reflect stock sold under Buy-Sell Agreements dated October 14,1969 2,680,952.00 o 00 Conversion and Sale of Assets Without Gain or Loss 11,914.29 11,914.29 P~nt in full Guttman Supp~Comp~of Washington,Pennsylvania Liquidating proceeds in re share of Accountants Receivable 11/6/71 -11/6/73 Inventory value o 00 P~nts account Principal $51,341 Promissory Note of Envoy Towboat,Incorporated dated 2/1/72 due 2/f/87 4/25/72 1/31/73 Unpaid balance Carrying value -9- 30,000.00 4,912.00 16,429.00 51,341.00 51;341.00 o 00 • ESTATE OF LEO roNALD GUT'lMAN A/K/A LEO D.GUT'lMAN,DECEASED Conversion and Sale of Assets Without Gain or Loss (continued) '--t I'''', Payments account Principal $53,828 Promissor,y Note of Explorer Towboat,Incorporated dated 2/1/72 due 2/1/87 . 4/25/72 1/31/73 Unpaid balance Carrying·value Payments account Principal $53,596 Promissor,y Note of Express Towboat,Incorporated dated 2/1/72 due 2/1/87 4/25/72 1/31/73 Unpaid balance Carrying value Payments in full $16,853 Promissor,y Note of GBL-7,Incorporated dated 2/1/72 due 2/1/87 1/31/73 . 10/31/73 Carr,ying value Payments in full $20,926 Promissor,y Note of GBL-8,Incorporated dated 2/1/72 due 2/1/87 1/31/73 10/31/73 Carr,ying value Payments in full $14,704 Promissor,y Note of GBL-9,Incorporated dated 2/1/72 due 2/1/87 1/31/73 10/31/73 Carrying value -10- 30,000.00 3,733.00 20,095.00 53,828.00 53,828.00 30,000.00 3,587.00 20,009.00 53,596.00 53,596.00 3,371.00 13,482.00 16,853.00 16.853.00 4,186.00 16,740.00 20,926.00 20,926.00 2,941.00 11,763.00 14,704.00 14,704.00 o 00 o 00 o 00 o 00 o 00 '. ESTATE OF LEO roNALD GUT'IMAN A/K/A LEO D.GUT'IMAN.DECEASED Conversion and Sale of Assets Without Gain or Loss (continued) Payments in full $10,080 Promissor,y Note of GBL-10,Incorporated dated 2/1/72 due 2/1/87 1/31/73 10/31/73 Carrying value 2,016.00 8,064.00 10,080.00 10,080.00 °00 Payments account Principal $74,267 Promissor,y Note of Gutbro Barge Lines,Incorporated dated 2/1/72 due 2/1/87 4/25/72 30,000.00 1/31/73 3,264.00 2/1/74 1,394.08 Unpaid balance 39,608.92 74,267.00 Carrying value 74,267.00 o 00 Payments account Principal $200,282 Promissor,y Note of Gutbro I:evelopment Company dated 2/1/72 due 2/1/87 4/25/72 1/31/73 Unpaid balance Carrying value 75,000.00 7,784.00 117,498.00 200,282.00 200,282.00 o 00 Payment account Principal $47,398 Promissory Note of Jesse B.Guttman Towboat,Incorporated dated 2/1/72 due 2/1/87 1/31/73 9,480.00 Unpaid balance 37,918.00 47,398,00 Carrying value 47,398,00 -11- o 00 '~I••• ESTATE OF LEO OONALD GUT'lMAN A/K/A LEO D.GUTTMAN,DECEASED Conversion and Sale of Assets Without Gain or Loss (continued) Payment in full $8,186 Promissory Note of Guttman Fuels,Incorporated dated 2/1/72 due 2/1187 12/6/72 Carrying value .Payments account Principal $567,399 Promissory Note of Guttman Oil Company dated 2/1/72 due 2/1/87 2/28/72 4/25/72 2/1/74 Unpaid balance Carrying value payments account Principal $376,818 Promissory Note of Guttman Petroleum Com~any dated 2/1/72 due 2/1/87 2/28/72 4/25/73 2/1/74 Unpaid balance Carrying value Payments account Principal $545,1.$7 Promissory Note of Guttman Realty ComP,BIl1 dated 2/1/72 due i/1/87 4/25/72 1/31/73 2/1/74 Unpaid balance Carrying value -12- 8,186.00 8,186.00 62,500.00 30,000.00 8,499.00 466,400 •00 567,399.00 567,399.00 62,500.00 30,000.00 2,960.56 281,357.44 376,818.00 376.818.00 130,000.00 37,283.00 58,185.28 320,018.72 545,487.00 545,48'7.00 o 00 o 00 o 00 o 00 I-__--.;.....:..-.~~---- ~-----------------------------------I '''I •• EsrATE OF LEO roNALD GUT1MAN"A/K/A LEO D.GUT'lMAN t DECEASED Conversion and Sale of Assets Without Gain or Loss (continued) Payment account Principal $107,162 Promissory Note of Guttman Su,Pp1:y CompB.o/ dated 2/1/72 due 2/1/87 2/1/74 Unpaid balance Carrying value 10,001.78 97,160.22 107,162.00 107,162.00 o 00 Payment account Principal $50,146 Promissory Note of Martin G.Towboat,Incorporated dated 2/1/72 due 2/1/87 1/31/73 10,030.00 Unpaid balance 40,116.00 50,146.00 Carrying value 50,146.00 o 00 payment account Principal $169,036 Promissory Note of Mercer Realty Company dated 2/1/72 due 2/1/87 2/1/74 Uflpaid balance Carrying value 6,761.45 162,274.55 169,036.00 169,036.00 a 00 Payments account Principal $129,458 Promissory Note of Mon Valley Terminal,Incorporated dated 2/1/72 due 2/1/87 1/31/73 6,905.00 2/1/74 5,178.31 Unpaid balance 117,374.69 129,458.00 Carrying value 129,458.00 P~nts account Principal $6,000 Promissory Note of Mon Valley Terminal,Incorporated dated 2/1/72 due 2/1/87 1/31/73 1,200.00 2/1/74 640.00 Unpaid balance 4,160.00 6,000.00 Carrying value 6,000.00 -13- a 00 a 00 -- ,.".4•..• I ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN J DECEASED Conversion and Sale of Assets Without Gain or Loss (continued) Payments account Principal I $177,985 Promissor,y Note of Thrif-T Oil Company dated 2/1/72 due 2/1/87 4/25/72 65,000.00 1/31/73 8,568.00 Unpaid balance 104,417.00 177,985.00 Carr,ying value 177,985.00 o 00 1 9 7 2 July 20 Proceeds maturity -$460,000 United states of America Treasur,y Bills dated 1/2~72 due 7/20/72 456,375.90 Purchased 4 26/72 456,375.90 o 00 Dec.20 Proceeds redemption -$27,000 General Motors Acceptance Corporation Demand Notes at 100 27,000.00 Purchased 8/25/72 -12/1/72 27,000.00 o 00 I Dec.28 Proceeds redemption -$4,000 General Motors Acceptance Corporation Demand Notes at 100 4,000.00 Purchased 12/1/72 4,000.00 o 00 1 973 April 4 Proceeds sale -$1,000 Washington Trotting Association,Incorporated 6 1/2%Bond dated 9/1/69 due 9/1/77 at 80 800.00 Inventor,y value 800.00 o 00 April 22 Proceeds sale -1,000 shares Guttman Towing,Incorporated Connnonstock at 10.508 10,508.00 Inventor,y value 10,508.00 o 00 t I -14- --- ..,....••--• ! , ESTATE OF LEO OONALD GUTmAN A/K/A LEO D.GUTTMAN.DECEASED I Conversion and Sale of Assets Without Gain or Loss I (continued)I 1 9 7 3 I Sept.13 Proceeds sale -$5,000 General Motors Acceptance Corporation Demand Note at 100 5,000.00 Purchased 1/2/73 -4/18/73 5,000.00 o 00 Proceeds maturity -$110,000 United states of America Treasury Bills dated 3/15/73 due 9/13/73 106,418.40 Purchased 3/15/73 106.418.40 o 00 Dec.17 Proceeds sale -$35,000 United states of America Treasur,y Bills dated 8/30/73 due 2/28/74 34,319.25 Purchased 11/29/73 34.319.25 o 00 1 9 7 4 Feb.28 Proqeeds maturity -$15,000 United States of America Treasur,y Bills dated 8/30/73 due 2/28/74 14,708.25 Purchased 11/29/73 14.708.25 o 00 March 14 Proceeds redemption -$130,000 United states of America Treasury Bills dated 9/13/73 due 3/14/74 124,137.00 Purchased 9/13/73 124,137.00 o 00 April 5 Proceeds redemption -$95,000 General Motors Acceptance Corporation Demand Notes at 100 95,000.00 Purchased 2/13/74 95.000.00 o 00 Sept.12 Proceeds maturit,y -$145,000 United states of America Treasury Bills dated 3/~74 due 9/12/74 139,401.55 IPurchased314/74 139.401.55 I o 00 , Oct.21 Proceeds sale -$45,000 I United States of America Treasury Bills dated 9/12/74 due 3/13/75 42,957.00 Purchased 9/12/74 42.957.00 0 00 0 00 -15- -' ,,,,.,•••••, I , ! ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN.DECEASED Gain on Conversion of Asset 1 9 7 3 April 10 Proceeds redemption -10 shares Three Rivers Bank and Trust Company Common Stock at 57 570.00 Received 10/13/72 550.00 20 00 2,737,794 97 DISBURSEMENTS Family Exemption 197 2 Feb.4 Margaret B.Guttman,surviving spouse 1,500 00 Administrative Expenses 1 9 7 1 Nov.2 Guy A.Rodgers Reimbursement for trip to Pittsburgh to probate Will of Leo D.Guttman 25 00 Register of Wills of Washington County,Pennsylvania ICostofProbatingWill,Grant of Letters Testamentar,y,12 Short Certificates and 6 extra pages of Will 27 50 Nov.26 The Valley Independent Advertising Grant of Letters Testamentary 12 75 Dec.9 Clerk of Orphans I Court of Washington County, Pennsylvania Cost of filing Acceptance of Trust 3 00 1 9 7 2 Jan.26 Register of Wills of Washington County,Pennsylvania Cost of 3 Short Certificates 3 00 Feb.1 Transfer charge on $1,000 Washington Trotting IAssociation,Incorporated 6 1/2%Bond .3 00 I April 7 G.Herschel Fetherlin IAppraisalfeeinrepropertysituate 165 Arlington Avenue,Speers Borough,Pennsylvania 75 00 , I 1 -16-· - "',.&'./.t ESTATE OF LEO OONALD GUTTMAN A/K/A LEO D.GUT'lMAN.DECEASED Administrative Expenses (continued) 197 2 April 18 Internal Revenue Service 1971 Fiduciary Income Tax 103 30 April 25 Epstein,Tabor and Schorr P~nt for accounting services rendered thru 3/31/72 2,500 00 June 5 Register of Wills of Washington County,Pennsylvania Cost of Certified Copy of Will 10 50 July 14 Donald L.Dawson Reimbursement for cost of filing Inventory 8.00 Balance due on Grant of Letters Testamentary 20.00 28 00 Aug.1 Insurance Company of North America IPaymentforaffidavitofLossandIndemnity Agreement for 95 shares of Texaco,Incorporated Stock 93.00 Less refund on replacement of 23 shares found 10.50 82 50 Aug.3 Mellon National Bank and Trust Company Satisfaction fee on jointly owned Mortgage Loan, No.60642 -0841 of Leo D.Guttman and Margaret B.Guttman 6.00 Less reimbursement from Margaret B.Guttman 3.00 3 00 Sept.27 Register of Wills of Washington County,Pennsylvania Cost of Short Certificate 1 00 , Oct.25 Alexander Agency,Incorporated Cost of Surety Bond for replacement certificate on 10 shares Three Rivers Bank and Trust Company Common Stock 22 00 197 3 IJan.2 Register of Wills of Washington County,Penneylvania Cost of Short Certificate 1 00 I Jan.30 Buchanan,Ingersoll,Rodewald,Kyle and Buerger IPaymentformiscellaneousadministrationexpenses (Photocopies,transcripts and traveling expenses)33 10 -17-, I I ----- ,.".. 4L ••.. ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUT'lMAN.DECEASED Administrative Expenses (continued) 197 3 ~4 David J.Wack Appraisal fee for household effects 65 00 1 9 7 4 Feb.27 Washington County Reports Advertising Grant of Letters Testamentary 16 00 Oct.21 Register of Wills of Washington County,Pennsylvania Cost of filing this Account 1,468 89 Buchanan,Ingersoll,Rodewald,Kyle and Buerger Attorneys'fee On account 12/21/72 13,000.00 On account 12/27/73 12,000.00 Balance 10/21/74 14.800.00 39,800 00 The Union National Bank of Pittsburgh Accountant's co~ensation On account 12 21/72 22,000.00 .On account 12/27/73 23,000.00 Balance 10/21/74 25.000.00 70,000 00 Expenses in re sale of securities 77 10 114,360 64 Loss on Sale of Assets 197 2 Feb.17 Proceeds sale -1/4 share First National Bank and Trust Company of Washington,Pennsylvania 8.75 Inyentory value 10.25 1 50 May 11 Proceeds sale -4 shares Cities Service comp~ Common Stock at 36 1 8 144.50 Inventory value 177.00 32 50 I 1 974 I March 29 Proceeds sale -83 shares First D,yna-Corporation Common Stock at 31 2,573.00 Inventory value 3.403.00 830 00 -18- ,,,,.~..'.• iI I I I ESTATE OF LEO OONALD GUT'lMAN A/K/A LEO D.GUTTMAN.DECEASED Loss on Sale of Assets (continued) 1 9 7 4 March 29 Proceeds sale -120 shares Global Development,Incorporated Common Stock at 1 1/2 180.00 Inventory value 720.00 540 00 1,404 bo Preferred Debts 1 9 7 1 Dec.16 Dr.Jack D.Myers Balance due for professional services - Statement dated 11/3/71 39 00 Dec.31 Payment of professional services rendered -IStatementdated12/14/71 110.00 Less amount covered by insurance 108.00 2 00 Ferguson Funeral Home Funeral expenses 3,916 00 197 2 Jan.6 McShane Florist and Greenhouse Funeral flowers 62 95 March 9 Charleroi-Monessen Hospital Payment in full for hospital charges 145 50 March 13 Joseph J.Buch,M.D. Professional services 10/17 -10/23/71 55 00 Sept.13 Kurtz Memorial Company fayment for Rock of Ages Memorial 1,397 00 1 9 7 3 Jan.24 Leroy Stanley Landscaping expenses for cemetery lot 126 00 Feb.27 Reimbursement for purchase of 200 Blue Juniper Shrubs placed on cemetery lot 836 64 6,580 09 I -19-' •••I''''A ESTATE OF LEO OONALD GUTTMAN T.Rn n A/K/A .N n1i'~lI·~n Other Debts 1 971 Nov.30 Margaret Bennett Tax Collector Speers Borough Real Estate Taxes 1971 Borough 120.82 5%Penalty 6.04 126 86 1971 School 535.00 5%Penalty 26.75 561 75 Washington County Tax Claim Bureau 1970 Real Estate Tax 162.63 10%Penalty 16.26 Interest 9.76 Additional cost of notice 4.00 192 65 Malcolm L.Morgan,County Treasurer 1971 County Real Estate Tax 162.63 10%Penalty 16.26 178 89 1 9 7 1 Nov.30 Sun Paint and Tile Centers Payment in full -statement dated 10/25/71 164 19 Henry B.Klein Company Merchandise 682 00 Millers Merchandise -statement dated 9/10/71 413 27 Nemacolin Country Club Charges for September,October and November,1971 236 49 West Penn Power Company Electric service to 10/29/71 26 89 ])ec.8 Margaret B.Guttman Reimbursement for funds advanced for pBJIDent of lawn care of residence property 6/6/71 -11/9/71 115 00 197 2 Jan.5 Feb.10 Columbia Gas of Pennsylvania,Incorporated Gas service -budget p~ent for October,1971 Guttman Oil Company Oil purchased for residence property -20-' 27 00 298 92 ,.,11 "••• ESTATE OF LEO roNALD GUTTMAN A/K/A LEO D.GUTTMAN.DECEASED Other Debts (continued) 1 9 7 2 Feb.10 Thrif-T Oil Company Guttman Supply Company -repayment of cash advanced to decedent 105.74 Guttman Petroleum Company Rep~ent of loan principal 30.93 Guttman Realty Company To correct error in the asset distribution of Guttman Construction Company 160.56 2cn 23 Feb.17 Maury S.Guttman Reimbursement representing interest paid in error to Leo Guttman Estate from 8/1/70 to 1/31/71 on various Guttman Supply Company Notes owned by Maury S.Guttman 6ffJ 00 Feb.22 Mellon National Bank and Trust Company $5,000 Demand Note of Leo D.Guttman dated 9/16/71 Principal 5,000.00 Interest 10/1/71 -10/23/71 19.17 I 5,019 17 April 17 Internal Revenue Service Additiona1 payment of 1971 Individual Income Tax under automatic extension 2,034 00 May 12 Pennsylvania Department of Revenue 1971 Pennsylvania Individual Income Tax 73 00 July 14 Guttman Oil Company Payment in full of loan made to Leo D.Guttman 2,220 00 Guttman Petroleum Company Payment of loan made to decedent Principal 2/10/72 2,429.87 7/24/72 1.409.30 Interest 8/1/71 -10/23/71 3,839.17 35.71 3,874 88 -21-· ----_..- ""4•.,• ESTATE OF LEO roNALD GUTTMAN Aj¥..jA LEO D.GUT'lMAN.DECEASED Other Debts (continued) Mellon National Bank and Trust Company PBJlllSnts of Principal on jointly owned Mortgage Loan No.60642-0871 1071/71 -8/3~72 17,732.38 Interest 10/1 71 -10/23/71 65.78 17,798.16 Less funds received from Margaret B.Guttman representing 1/2 share payment of jointly owned mortgage 8.866.19 8,931 97 26,134 16 other Taxes 197 2 Jan.21 Russell Marino,Agent P~nt account Pennsylvania Transfer Inheritance Tax On account -Life Estate and Remainder Interest in portion of residue known as Trust "A" $1,100,000.00 at 6%66,000.00 On account -Life Estate only in portion of residue known as Trust "B" $800,000.00 at 6%48,000.00 114,000.00 Less 5%discount 5,700.00 108,300 00 July 21 Russell Marino,Agent Additional p~nt account Pennsylvania Transfer Inheritance Tax on Life Estate and Remainder Interest in trust under Article Two and on Life Estate only in trust under Article Three of the Will $280,000.00 at 6%16,800 00 Internal Revenue Service Payment of Federal Estate Tax 409,183 29 197 3 Sept.25 Internal Revenue Service Payment of Federal Estate Tax deficienqy 2,880.90 I Interest 7/23/72 -9/25/73 202.61 3,083 51 537,366 80 687,345 69 -22- I -- ''''14..••. ESTATE OF LEO roNALD GUT'lMAN A/K/A LEO D.GU'l"lMAN,DECEASED SCHEIULE B INCOME -PERSONALTY RECEIPTS Di.vidends -stocks American Telephone and Telegraph Company Connnon 300 shares 10/1/74 486 00 Cities Service Company COlIDllon 4 shares 12/7/71 -6/13/72 6fiJ Cleveland Electric Illuminating Company Connnon 500 shares 5/17/74 -8/16/74 600 00 First D,yna-Corporation Connnon 83 shares 10/9/73 -4/9/74 114 14 First National Bank and Trust Company of Washington,Pennsylvania Connnon 83 1/4 shares 1/4/72 39.43 83 shares 4/10/72 -7/13/73 211.66 251 09 Global Development,Incorporated Common 120 shares 6/27/73 2 40 Texaco,Incorporated Capital 98 shares 12/21/71 -3/11/74 300.91 683 shares 6/11/74 -9/10/74 683.00 983 91 2,444 14 Interest -Bonds Upper Darby Township,Pennsylvania 5.10%due 4/15/83 I $50,000 4/15/74 -10/15/74 1,275 00 I Washington Trotting Association,Incorporated 6 1/2%I due 9/1/77 $1,000 10/23/71 -4/17/73 (sold)96 42 -23- --- ,.".to••-•. EsrATE OF LEO DONALD GUT'lMAN A/K/A LEO D.GUT'lMAN.DECEASED Interest -Bonds (continued) United States of America Treasur,y Bills Accumulation on $460,000 to 7/20/72 3,624.10 110,000 to 9/13/73 3,581.60 35,000 to 12/26/73 207.86 15,000 to 2/28/74 291.75 130,000 to 3/14/74 5,863.00 145,000 to 9/12/74 5,598.45 45,000 to 10/21/74 613.00 19,779 76 General Motors Acceptance Corporation Demand Notes Distribution on $25,000 8/25/72 -11/30/72 358.88 31,000 12/1/72 -12/31/72 93.92 ! 4,000 1/1/73 -3/31/73 61.96 I5,000 4/1/73 -9/30/73 184.24 95,000 2/13/74 -4/5/74 (redeemed)1,101.51 1,800 51 22,951 69 Interest -Notes Interest received on Promissory Notes covered by Two Buy-Sell Agreements,dated October 14,1969 between and ~ong each of the respective companies, Howard S.Guttman and Leo D.Guttman Env/i Towboat,Incorporated 2 1/72 -9/1/74 1,955 49 Explorer Towboat,Incorporated 2/1/72 -9/1/74 2,253 80 Express Towboat,Incorporated 2/1/72 -9/1/74 2,240 54 GBL-7,Incorporated 2/1/72 -10/31/73 970 85 GEL-8,Incorporated 46 I2/1/72 -10/31/73 1,205 I GEL-9,Incorporated I2/1/72 -10/31/73 844 83 GEL-10,Incorporated I 2/1/72 -10/31/73 580 68 -24- •.-• ,,,.." ESTATE OF LEO roNALD GUTTMAN A/K/A LEO D GUTTMAN DECEASED•• Interest -Notes (continued) Interest received on Promissory Notes covered by Two Buy-Sell Agreements,dated October 14,1969 between and among each of the respective companies, Howard S.Guttman and Leo D.Guttman (continued) Gutbro Barge Lines,Incorporated 2/1/72 -9/1/74 4,151 68 Gutbro DevelNent Company 2/1/72 - 9 1/74 11,832 26 Guttman Fuels,Incorporated 2/1/72 -12/1/72 245 18 Guttman Oil Company 2/1/72 -9/1/74 44,227 14 Guttman Petroleum Company 2/1/72 -9/1/74 26,623 54 Guttman Real/l:Company 2/1/72 - 9 1/74 36,378 66 Guttman SuPP7I Company 2/1/72 - 9 1/74 9,754 32 Jesse B.Guttman Towboat,Incorporated 2/1/72 -9/1/74 3,867 35 Martin G.Towboat,Incorporated 2/1/72 -9/1/74 4,091 54 Mercer Realty Company 2/1/72 -9/1/74 15,574 81 l'1on Valley Terminal,Incorporated 162/1/72 -9/1/74 11,535 Mon Valley Terminal,Incorporated 476 182/1/72 -9/1/74 Thrif-T Oil Co~any 10,560 672/1/72 -9/1 74 14!189,370 Ii -25- I ~- ,.,11 ,-.,- ,...'.. EsrATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN t DECEASED Miscellaneous Guttman Supp~Company of Washington,Pennsylvania Interest on 1ijuidation proceeds 12/6/71 -11 6/73 442-70 197 2 March 8 Refund of income tax paid by Guttman Supp~Company in re overpB\YlIlent of Corporate Loan t s Tax 55.95 Interest on above refund 8.62 64 57 507 27 215,273 24 DISBURSEMENTS Administrative Expenses Mellon National Bank and Trust Company Interest on $5,000 Demand Note of Leo D.Guttman 10/23/71 -2/11/72 100 25 Mellon National Bank and Trust Company Interest on jointly owned mortgage loan No.60642-0871 10/23/71 -8/31/72 841.24 Less reimbursement from Margaret B.Guttman 420.62 420 62 1 9 7 2 July 14 Guttman Petroleum Company Interest on loan to Leo D.Guttman 10/23/71 -7/14/72 52 39 1 9 7 3 April 13 Pennsylvania Department of Revenue 1972 Pennsylvania Fiduciary Income Tax'for calendar year ending 12/31/72 59 75 1 974 I March 19 Pennsylvania Department of Revenue 1973 Pennsylvania Fiduciary Income Tax for calendar year ending 12/31/73 276 93 -26-, I I ,,,••'l ~:.1--• ESTATE OF LEO roNALD GUT'IMAN A/K/A LEO D.GUTTMAN.DECEASED Administrative Expenses (continued) 1 9 7 4 April 23 Interest to 4/30/74 on purchase of $50,000 Upper Darby Township,Pennsylvania 5.10%Bond 28 34 Oct.21 The Union National Bank of Pittsburgh Accountant's compensation 11,413 49 12,351 77 ! -27- I 17'8 , !..".~•--/ EsrATE OF LEO OONALD GUT'lMAN A/K/A LEO D.GUTTMAN.DECEASED EXHIBIT NO.I P~nt account Distributive Share Principal -Personalt,y Distribution under Article One of the Will Margaret B.Guttman One lot miscellaneous household goods Delivered 2/3/74 4,934 50 Income -Personalty Distribution under Article Two of the Will Howard S.Guttman and The Union National Bank of Pittsburgh,Trustees Under the Will for Margaret B.Guttman No.H09322A00 Proportionate share of net income 5/2/72 3,000.00 %5/72 3,000.00 6 30/72 3,000.00 %1/72 3,000.00 8 25/72 4,000.00 %1/72 3,000.00 9 21/72 4,000.00 9/29/72 3,000.00 10/23/72 3,000.00 12/1/72 11,000.00 3/8/73 11,000.00 6/7/73 11,000.00 %5/73 11,000.00 12 10/73 11,000.00 %5/73 11,000.00 5 31/73 11,000.00 9/9/74 11,000.00 117,00C 00 -28- ,,,,,",. )j,~• ESTATE OF LEO roNALD GUT'lMAN A/K/A LEO D.GUT'lMAN,DECEASED EXInBIT NO.I (Continued) Distribution under Article Three of the Will Howard S.Guttman and The Union National Bank of Pittsburgh,Trustees Under the Will for Maury S.Guttman No.H09322B09 Proportionate share of net income ~7/72 5,819.00 6 30/72 6,250.00 8/25/72 4,000.00 9/21/72 4,000.00 10/23/72 3,000.00 12/1/72 2,500.00 3/8/73 6,500.00 6/7/73 7,173.05 %5/73 6,250.00 12 10/73 6,250.00 %5/74 6,250.00 5 31/74 6,250.00 9/9/74 6,250.00 70,492 05 187,492 05 , i I -29- II • COMMONWEALTH OF PENNSYLVANIA COUNTY OF WASHINGTON ss: • HOWARD S.GUTTMAN,the above named Accountant being duly sworn according to law deposes and s~s that Letters Testa.mentar,y were granted to HOWARD S.GUTTMAN and THE UNION NATIONAL BANK OF PITTSBURGH and advertised more than six months prior to the filing hereof;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 veri~believes. Sworn and subscribed before me this 1/')1"IV,/) No'ta~Public WILLI M J.fRLB~T.SR.,NurAR~PUBLIC PHTSIlUR(,H,ALLEGHENY COUNTY MY COMMI-SSION EXPIRE:>MAR.8.1976 Member,PennsylvaniaAssociationol Notaries , 1974. 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. Howard S.Guttman -. COMMONWEALTH OF PENNSYLVANIA 88: COUNTY OF ALLEGHENY roNALD L.DAWSON,Vice President of THE UNION NATIONAL BANK OF PITTSBURGH,the above named Accountant being duly sworn according to law deposes and s~s that Letters Testamentary were granted to HOWARD S.GUTTMAN and THE UNION NATIONAL BANK OF PITTSBURGH and advertised more than six months prior to the filing hereof;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. Vice President Sworn and subscribed before me this 1/'",.vb 'Notary Public WILLI MJ.FRCB:ir.SR..NOTARY PUBLIC PUlSBURGH.ALL~GHErtY COUNTY MY COMMISSION EXPIRE:i MAR.8.1976 Member,PennsylvaniaAssociationofNotaries ,1974. 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. THE UNION NATIONAL BANK OF PITTSBURGH ByLf,f~.. Vice President ---- ~~ I ·7 . i I Praof of Publication of Motic',in'The Valley Independent 1 Under Act No.587,Approved May 16,1929,P.L.1784, aS,amended by Act No.51 of April 24,1931,P.L.67 State of Pennsylvania } County of.Westmoreland IS: Personally appeared before me William H.Pore,General Manager of The Valley Independent,who being duly sworn,deposes and says that The Valley Independent is a daily newspaper of general circulation in Fayette,Washington and Westmoreland counties"Peni'lsylvonia,and elsewhere,published in the City of Monessen,Westmoreland County,Pennsylvania,that it was established June 28,1902,since which date The Valley Independent has been regularly issued in said county,and that a copy of the printed notice or publication is attached hereto exactly as the same was printed and published in the regular editions and issues of The Valley Independent on the following dates,November 4.1971 November 11 and 18.1971 Affiant further deposes and says that he is General Manager of The Valley Independent,a daily newspaper of general circulation,and as such is authorized to verify the foregoing statement under oath,and Affiant is not interested in the subject matter of the aforesaid notice or advertisement,and that all allegations in the foregoing statements as to time,place and character of publication are true. COpy of NOTICE R\"<:S •,Notary Public:,1'30.ettA ....,-....-.•~----1101\\,,'·:1,.,.",Slllllfy-.My comrrissi:>!1 ex,)ires ·__.·""'·>l....,I~··,='':'"':'"''~1.o;;.;;..·1.......J...._ ..ttll.....'".. SrAT'EMEt'n (''F AeVERTISING 'COSTS: The Union National Bank of Pittsburgh Donald L.Daw~~Trust Officer P,O.Box 837;Pittsburgh,Pa.15230 TO THE VALLEY INDEPENDENT,DR. For publishing the not:ce or advertisement attached hereto in The Valley Indeptmdpnt on above staled dates $12.00 Nota",<••••••••••••••'.• •••$ •75 , •Total $12.75 lmell"'DR ADVERTISING COSTS The Valley.Independent,a daily .,ew~per of general circulation,hereby acknowledges receipt of th·.:!aforesaid advertising and publication ccsts and certifies that the same have been duly paid. , \... THE VALLEY INDEPENDENT 11/26/71 (;/;j. PAID"- ,...n re:Estate of Leo Donald Guttman a.k.a.Leo D.Guttman,dec 'd. 63-71-1082 \,No .'o:!'• • • • • • • • • • • • • • • • • • • •••Tel'm.,19 I Proof of Publication of NDtic~in Pittsburgh Legal Journal UNDER ACT OF MAY 16,1929,P.L.1784,AS LAST AMENDED BY ACT 520,OF JULY 5,1947. State of Pent&8YZvania,l Oounty of A"llegheny,88.: WILLIAM A.HUDSON,a designated agent of the Publisher of the PITTSBURGH LEGAL JOURNAL,being duly sworn,deposes and says that the PITTSBURGH LEGAL JOURNAL is a legal newspaper which is published by The Allegheny County Bar Association at the offices of its printer,620 Second Avenue,Pittsburgh,Allegheny County,Pennsyl- vania;and that the PITTSBURGH LEGAL JOURNAL was established as a weekly newspaper on April 23,1853,and as a daily legal newspaper on January 4,1926,since which date said daily legal newspaper has been regularly issued in said County,and that a copy of the printed notice or publication which is attached hereto is exactly the same as it was printed and pUblished in the regular editions and issues of the said daily legal newspaper on the following dates,viz: 3rd -lOth.................................................................................... 17th November 71. . .. . .. . . . .. . .. . . . . .. . .....an.d 1:h.e ••••••••••••••day of ,A.D.19 . Affiant further deposes that he is an agent duly authorized by the publisher of said PITTSBURGH LEGAL JOURNAL,to verify the foregoing statement under oath and also declares that affiant is not interested in the subject matter of the aforesaid notice or publication,and that all allegations in the foregoing statement as to time,place and character of publication are true.'..,f\ Copy of notice or publication ..uR.J.A....~(:\........,.....~ William A.Hudson Agent for the Publis r of the Pittsburgh Legal Journal. \ Letters have been granted on the estate of eaeh of the following de- cedents to the personal representa-tive named.who requests all persons having claims against the estate ofthedeeedenttomakeknownthe....me In writing to him or his at- torney,and all persons Indebted to the decedent to make payment tohimwithoutdelay: Guttman,Leo Donaldd::S=°w:r as Leo D.outtman,N '1082Speer s Borough.,Pa.O.df1971HowardS.Guttman anoUnionNationalBankofPitts-~~:gh,Extrs.,150 Linden,Charieroi, P 15002 and Fourth Ave.and';~'od St.,Pgh.,Pa.15230,respect- iveiy'ROBERT F.PATTON,At~Y., 1800 'Oliver Bidg.,Pgh.,~av/:N_i21 Sworn to and subscribed b~ore me this 17th November 71 . . . . . . .•.day of ................;......,19....:...,.-.• ..........r~..~~rR . KATHRYN \V.WIRTH,Notary Public Pittsburgh,Allegheny County,Pa. My Commission Expires September 11,IIfIl 1975. Statement of .ll dverlisino rostsTheUn~onlfationat~anK o~ttsourgh .P~q~~~.~,.Aq~~PA~.f~4~t.~~fi~~~ p.o.Box 837....................................... Pittsburgh,Pa.15230....................................... To PlTrSBURGH LEGAL JOURNAL,Dr. For publishing the notice or advertisement 18.00 attached hereto on the above stated dates $ . .$1.00Probat~g SaIne - -- - - - . Total - - - 19.00• • • $ . Publisher's Receipt for Advertising Costs The PITTSBURGH LEGAL JOURNAL hereby acknowledges receipt of the aforesaid advertis- ing and publication costs,and certifies that the SaIne have been fully paid. and Receipt for PITTSBURGH LEGAL JOURNAL PllTSBURGH LEGAL JOURNAL By . BuSINESS OmCE 620 Second Avenue PITl'SBUBGH,Po\.15219 Established 1858 'Phone 281-6556 I hereby certify that the foregoing is the origi the Adverthling costs in the subject matter of said ~~r.r;=\TlrTr _.- In·;fBy---- ••••••••••••••••••t •••••••••••••••••••• l1QI'm D102 Attorney for .'I t ~,~ No. A _______________Term,19__ Court of Allegheny County,Pennsylvania .~ f 'tttaburgl111jegal 3Jnurual PROOF OF PUBLICATION and RECEIPT FOR ADVERTISING COSTS of \,Filed •19 c '. Attomey for ~ " i,I I, f -I IN RE:ESTATE OF LEO D.GUTTMAN DECEASED ) )FILE NO.63-71-1082 ) ) ) J " FJ>ECTION TO HAVE VALUE OF FUTURE INTEREST DETERMINED AS OF JUNE 10,1976 AND TO PAY TAX ASSESSED THEREON RusselL Marino;;Register,of Wills Washington Pennsylvania Dear 'Sir: Pursuant to the provisions of Paragraph (a)under Section 713 of the Inheritance and Estate Tax Act of 1961,HOwARD S.GUTTMAN and THE UNION NATIONAL BANK OF PITTSBURGH,Executors of the Last Will and Testament of LEO D.GUTTMAN,Deceased,elects to have the value of the future interest under Article Three of the will of said decedent, determined as of June 10,1976,and to pay the tax assessed thereon at the rate applicable to Class A Transferees. ~(~O-.:--=>-.Howard S.Guttman Co-Executor THE UNION NATIONAL BANK OF PITTSBURGH Co-Executor By J?~]j(M!i.t.:...---_ Assistant Tax Officer Dated:Si.t~1,Iq"ll, I ~I·i.... L _ L L L L '1"'~-'""'I.-'.'IiI",1/td -.;.:"r r~...". '•..J •./.::J .... L L L L L L L _ 52 E ;.d b'..,,,,..,t.J}·lI..:It,.,-..I,. L IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN, DECEASE,D .;rl ('t'"):f)« -l a... c}C''"'•....J . "f~l~":.,,-0........ f"(:::F-~.)....(..') l'Lr,J CL "~to -':I".-"'....-1-..-(.)(') U)C1 a-.::i--_.-,--:':><..?("-J 1.l.J -'?lLl j--,-a:::::>--(J)_.- cr::::::cr:;--"'-" '--c.::>(f) r--w « CO 0::3:.. VIashingtoa Co~mty,55, ORPHANS'COURT DIVISION NO.63 ..71 ..1082B FIRST AND PARTIAL ACCOUNT "CODE "TRUS T--:":"UN:-D.....E......R""'""""""':W:-I......L~L:----- FILED ON BEHALF OF HOWARD S.GUTTMAN (NOW DECEASED) AND THE UNION NATIONAL BANK OF PITTSBURGH, SURVIVING TRUSTEE COUNSEL OF RECORD JAMES W.UMMER, ESQUIRE PA.I.D.#16428 BUCHANAN INGERSOLL PROFESSIONAL CORPORATION FIRM #038 U.S.STEEL BUILDING 57TH FLOOR 600 GRANT STREET PITTSBURGH,PA 15219 (412)562-8800 I do certify that I have given legal notice to all persons concerned of the filing of the within account inthe mannerpre~ scribed by Statue and Rule of Court,as evidenced by proofs thereof filed to No~63,-9'7 -()b .3 9 Witness my hand and offidal seal this,..~......:daY: Oh..m.._",o.ci::~19..r...2. ~,-,l.~~~jr;rn~, FIRST AND PARTIAL ACCOUNT For the "Residuary Trust"Established Under the Will of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased Stated by Howard S.Guttman (now deceased)and THE UNION NATIONAL BANK OF PITTSBURGH,Surviving Trustee Residuary Trust B (Howard S.Guttman,Co-Trustee died on September 17,1986) Leo Donald Guttman Died October 23,1971 Date of Trustees,first receipt of funds December 31,1971 Account Stated for the Period December 31,1971 to April 21,1987 Purpose of Account:The Trustee offers this account to acquaint interested parties with the transactions that have occurred during their administration of the trust. It is important that the account be carefully examined.Requests for additional information or questions or objections can be discussed with: DONALD L.DAWSON, Vice President THE UNION NATIONAL BANK OF PITTSBURGH P.O.Box 837 Pittsburgh,Pennsylvania 15230 (412)644-8134 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED SUMMARY OF ACCOUNT r PRINCIPAL-PERSONALTY Receipts Net Gain on Conversions Less Disbursements Balance before Distributions Less Distributions for Beneficiary Investments Capital Changes Principal Balance Remaining INCOME-PERSONALTY Receipts Less Disbursements Income Balance Remaining COMBINED BALANCE REMAINING PAGES 5-7 7-13 Sub-Total 13-15 15-20 20-24 24-31 31 31 $925,522.58 -/ ./6,914.47 $932,437.05 Y' 53,943.94 ~ $878,493.11 371,500.00 ,(:/' $506,993.11 $2,000.00 1,282.39 717.61 $507,710.72 <' Stocks LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED COMPOSITION OF NET BALANCES PRINCIPAL -PERSONALTY Account Value 500 shares Atlantic Richfield Company, Common 1,500 shares H.J.Heinz Company, Common 500 shares International Business Machines Corporation,Capital 900 shares Johnson and Johnson,Common 1,000 shares Raytheon Company,Common 600 shares Sears,Roebuck and Company, Common Bonds $25,000 Pennsylvania 5.85%dated 8/15/69 due 1/15/89 $40,000 Pennsylvania 6.75%dated 8/15/75 due 2/15/89 $35,000 Pennsylvania 6.50%dated 11/15/75 due 5/15/87 $30,000 Pennsylvania 7%dated 6/1/83 due 12/1/87 $35,000 Philadelphia,Pennsylvania Gas works Revenue BIGI Insured 6.50% dated 9/1/86 due 7/1/94 $25,000 Western Wayne,Pennsylvania, School District MBIA Insured 7% dated 12/1/85 due 9/15/92 Notes $13,obo Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #3). -2- $28,745.00 21,737.14 32,678.73 27,252.18 44,602.50 23,463.12 24,631.25 39,016.00 35,000.00 30,000.00 35,000.00 25,000.00 6,500.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY (continued) Notes (continued) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #4) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #5) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/61 securing loan to Maury S. Guttman in the amount of $103,000 (Note #6) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #7) $12,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #8) $50,000 Demand Note of Maury S.Guttman dated 8/3/83 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman (non-interest bearing). -3- Account Value $13,000.00 13,000.00 13,000.00 13,000.00 12,000.00 50,000.00 LEO DONALD GpTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY (continued) Temporary Investment $19,300 Federated Trust for Short-Term United States Government Securities Fund (Treat as cash) *Cash TOTAL PRINCIPAL INCOME -PERSONALTY *Cash COMBINED TOTALS *Note:All cash is invested in Federated Trust for Short-Term United States Government Securities Fund -4- Account Value $19,300.00 $506,925.92 67.19 $506,993.11 L.- 717.61 $507,710:72 --,LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY RECEIPTS Deposited 12/31/71 New England Mutual Life Insurance Company Death benefits received under the terms of the Guttman Non-Contributory Pension Trust Proceeds of direct payment from Non-Contributory Pension Trust Fund assets which were invested by the Trustees Prior Award Howard S.Guttman and The Union National Bank of Pittsburgh,Executors of the Estate of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased Awarded by Adjudication and Decree of Distribution dated January 22, 1975 at No.63-71-1082 in the Court of Common Pleas of Washington County,Pennsylvania Residuary Trust B-37.7138% Stocks 2/20/75 113 shares American Telephone and Telegraph Company,Common 189 shares Cleveland Electric Illuminating Company,Common 258 shares Texaco,Incorporated, Common Bonds 2/20/75 $40,000 United States of America Treasury Bills dated 9/12/74 due 3/13/75 $20,000 Upper Darby Township, Pennsylvania 5.10%dated 4/15/74 due 4/15/83 -5- $135,715.14, 9,284.86 $5,697.26 6,013.86 7,433.55 38,184.00 20,000.00 $145,000.00 e...- ---------------~....,..--,,~-----------------------.., LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED RECEIPTS (continued) Prior Award (continued) Howard S.Guttman and The Union National Bank of Pittsburgh,Executors of the Estate of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased (continued) Awarded by Adjudication and Decree of Distribution dated January 22, 1975 at No.63-71-1082 in the Court of Common Pleas of Washington County,Pennsylvania Residuary Trust B-37.7138%(continued) Notes 2/20/75 $51,341 Promissory Note of Envoy Towboat,Incorporated, 4%dated 2/1/72 due 2/1/87 $53,828 Promissory Note of Explorer Towboat,Incorporated, 4%dated 2/1/72 due 2/1/87 $53,596 Promissory Note of Express Towboat,Incorporated, 4%dated 2/1/72 due 2/1/87 $74,267 Promissory Note of Gutbro Barge Lines,Incorporated, 4%dated 2/1/72 due 2/1/87 $200,282 Promissory Note of Gutbro Development Company, 4%dated 2/1/72 due 2/1/87 .$47,398 Promissory Note of Jesse B.Guttman Towboat, Incorporated,4%dated 2/1/72 due 2/1/87 $376,818 Promissory Note of Guttman Petroleum Company, 4%dated 2/1/72 due 2/1/87 $50,146 Promissory Note of Martin G.Towboat,Incorporated, 4%dated 2/1/72 due 2/1/87 -6- $16,429.00 20,095.00 20,009.00 39,608.92 117,498.00 37,918.00 281,357.44 40,116.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED RECEIPTS (continued) Prior Award (continued) Howard S.Guttman and The Union National Bank of Pittsburgh,Executors of the Estate of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased (continued) Awarded by Adjudication and Decree of Distribution dated January 22, 1975 at No.63-71-1082 in the Court of Common Pleas of Washington County,Pennsylvania Residuary Trust B-37.7138%(continued) Notes 2/20/75 (continued) $129,458 Promissory Note of Mon Valley Terminal, Incorporated,4%dated 2/1/72 due 2/1/87 Cash 2/13/75 From Income-Personalty Account Amount transferred for investments 10/18/84 -5/23/86 TOTAL PRINCIPAL RECEIPTS PRINCIPAL CONVERSIONS INTO CASH $117,374.69 3,512.86 Gain $771,247.58 $916,247.58 L. 9,275.00 $925,522.58 f..,/ Loss ,2/9/73 2/9/73 2/9/73 400 shares Goodyear Tire and Rubber Company,Common Carrying value $12,151.00 0" Net proceds 10,487.93 $1,663.07 200 shares Nabisco, Incorporated,Common Carrying value $11,754.66 Net proceeds 11,334.77 419.89 ...- 400 shares Texaco,- Incorporated,Common Net proceeds $15,393.28 /Carrying value 13,507.76 $1,885.52 -7- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued) Gain 2/12/73 $60,000 Community College of Delaware County Authority, Pennsylvania College Revenue Refunding Bond 4.75%dated 3/15/72 due 10/1/83 Carrying value $60,000.00 Proceeds 59,475.00 $ Loss 525.00 2/14/73 29 shares Black and Decker Manufacturing Company,Common Net proceeds Carrying value $51,341 Promissory Note of Envoy Towboat, Incorporated,4%dated 2/1/72 due 2/1/87 Decreed at Principal payment 2/1/75 $53,828 Promissory Note of Explorer Towboat, Incorporated,4%dated 2/1/72 due 2/1/87 Decreed at Principal payment 2/1/75 $53,596 Promissory Note of Express Towboat, Incorporated,4%dated 2/1/72 due 2/1/87 Decreed,at Principal payment 2/1/75 3/13/75 $40,000 United States of America Treasury Bills dated 9/12/74 due 3/13/75 Matured Decreed at $74,267 Promissory Note of Gutbro Barge Lines, Incorporated,4%dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -12/13/76 $3,337.36 2,502.67 $16,429.00 16,429.00 $20,095.00 20.,095.00 $20,009.00 20,009.00 $38,184.00 38,184.00 $39,608.92 39,608.92 -8- $834.69 ;/ LEO DONALD GUTTMAN AIKIA LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued) Gain Loss 4/7/77 10 shares Georgia- Pacific Corporation, Common Carrying value Net proceeds $394.43 317.60 $76.83 9/30/77 13 shares Georgia- Pacific Corporation, Common Carrying value Net proceeds $512.76 341.02 171.74 $50,146 Promissory Note of Martin G.Towboat, Incorporated,4%dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -10/27/77 $40,116.00 40,116.00 1/18/78 .500 share Cleveland Electric Illuminating Company,Common Proceeds Carrying value $11.13 0.00 $11.13 ./ $47,398 Promissory Note of Jesse B.Guttman Towboat,Incorporated, 4%dated 2/1/72 due 2,/1/87 Decreed at Principal payments 2/1/75 -2/1/78 $286,000 General Motors Acceptance Corporation Demand Notes Redeemed 4/12/72- 10/4/78 Carrying value $7,000 The Union National Bank of Pittsburgh Master Savings Account Withdrawn 3/7/79 Carrying value $37,918.00 37,918.00 $286,000.00 286,000.00 $7,000.00 7,000.00 -9- '----------------------------------~-------- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued) Gain Loss 9/4/79 9/4/79 9/4/79 9/4/79 258 shares Texaco, Incorporated,Common Net proceeds Carrying value 700 shares Emerson Electric Company, Common Net proceeds Carrying value 283 shares Cleveland Electric Illuminating Company,Common Carrying value Net proceeds 831 shares Black and Decker Manufacturing Company,Common Carrying value Net proceeds $376,818 Promissory Note of Guttman Petroleum Company,4%dated 2/1/72 due 2/1/87 . Decreed at Principal payments 7/1/75 -2/1/82 $7,448.20 7,433.55 $24,939.28 23,887.34 $6,013.86 5,073.1:: $24,918.72 20,404.52 $281,357.44 281,357.44 $14.65 / 1,051.94 $940.71 4,514.20 2/28/82 $10,000 United States of America Treasury Notes 13.875%dated 2/29/80 due 2/28/82 Matured Carrying value 7/14/82 113 shares American Telephone and Telegraph Company,Common Net proceeds Carrying value 7/14/82 72 shares International Business Machines Corporation,Capital Carrying value Net proceeds $10,000.00 9,859.37 $5,864.50 5,697.26 $"4,847.64 4,603.88 -10- 140.63 167.24 ./ 243.76 v' LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued) Gain Loss 7/14/82 ·30 shares Georgia- Pacific Corporation, Common Carrying value Net proceeds 4/15/83 $20,000 Upper Darby Township,Pennsylvania, Bond 5.10%dated 4/15/74 due 4/15/83 Matured Decreed at 5/15/83 $30,000 Pennsylvania Bond 7.50%dated 11/15/70 due 5/15/83 Matured Carrying value 6/28/83 $25,000 Pennsylvania Highway Bonds 5.75% dated 8/15/69 due 1/15/86 Carrying value Proceeds 6/28/83 300 shares Westinghouse Electric Corporation, Common Net proceeds Carrying value 6/28/83 346 shares Georgia- Pacific Corporation, Common Carrying value Net proceeds 9/13/83 186 shares Halliburton Company,Common Carrying value Net proceeds $1,165.25 444.88 $20,000.00 20,000.00 $30,000.00 30,000.00 $25,097.50 24,012.25 $15,129.99 13,338.00 $13,022.79 9,288.04 $13,834.71 7,781.97 $ $1,791.99'--- 720.37 1,085.25 3,734.75 6,052.74 10/21/83 .500 share H.J.Heinz Company,Common Proceeds Carrying value $16.66 0.00 -11- 16.66 --------------------------------------------, LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued) Gain Loss $129,458 Promissory Note of Mon Valley Terminal, Incorporated,4%dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -1/31/84 9/28/84 $4,100 The Union National Bank of Pittsburgh Money Fund Withdrawn 9/28/84 Carrying value 9/28/84 200 shares Halliburton Company,Common Carrying value Net proceeds 1/21/85 800 shares General Re Corporation,Common Net proceeds Carrying value 1/21/85 300 shares Georgia- Pacific Corporation, Common Carrying value Net proceeds $200,282 Promissory Note of Gutbro Development Company,4%dated 2/1/72 due 2/1/87 Decreed'at Principal payments 7/1/75 -2/4/85 1/15/86 $25,000 Pennsylvania Highway Bonds 5.75% dated 8/15/69 due 1/15/86 Carrying value Matured 9/19/86 500 shares H.J.Heinz Company,Common Net proceeds Carrying value $117,374.69 117,374.69 $4,100.00 4,100.00 $14,514.00 6,554.78 $51,746.27 32,379.98 $10,561.86 7,619.74 $117,498.00 117,498.00 $25,097.50 25,000.00 $19,574.34 9,460.00 -12- $7,959.22 $19,366.29 /'- '-'2,942.12 97.50 10,114.34 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued) Gain Loss 9/19/86 100 shares International Business Machines Corporation,Capital Net proceeds $13,764.54 Carrying value 11,098.00 $2,666.54 L--- $720,900 Federated Automated Government Money Trust Redeemed 3/23/79- 12/9/86 $720,900.00 Carrying value 720,900.00 $27,100 Federated Trust for Short-Term United States Government Securities Fund Redeemed 12/15/86- 4/21/87 $27,100.00 Carrying value 27,100.00 TOTAL GAINS AND LOSSES $38,061.62 1/"$31,147.15 LESS LOSS 31,147.15 NET GAIN $6,914.47 V" PRINCIPAL -PERSONALTY DISBURSEMENTS $1,941.00 -13- Pennsylvania Department of Revenue Pennsylvania Fiduciary Income Tax for the calendar years ending 12/31: 1978 (Balance from income)$14.66 1985 (Balance from income)385.97 10/13/75 Florida Department of Revenue Cost of Florida Non-Taxable Certificate for the Estate of Leo D.Guttman Russell Marino,Agent Payment of Pennsylvania Transfer Inheritance Tax on consumed principal for years: 1973 $100,000 x .32350 $32,350.00 at 6% 8/20/76 $400.63 5.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED DISBURSEMENTS (continued) Russell Marino,Agent Payment of Pennsylvania Transfer Inheritance Tax on consumed principal for years:(continued) 1975 $25,000 x .34185 $8,546.25 at 6% 8/20/76 $512.78 On remainder interest $775,390.55 x .35133 $272,417.96 at 6%16,345.08 4/21/87 Clerk of Orphans'Court of Washington County,Pennsylvania Cost of filing this account 4/21/87 Buchanan Ingersoll,Professional Corporation Attorneys'fee The Union National Bank of Pittsburgh Deferred principal compensation for the years 1973 -1977 $8,800.00 An~ual principal compensation taken 10/23/72 -3/19/87 17,166.08 Balance due 3/19/87 -4/20/87 200.00 To Income-Personalty Account 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 4/7/77 10 shares Georgia- Pacific Corporation, Common $317.60 $18,798.86 967.00 6,500.00 26,166.08 i- $52,837.57 10/10/77 13 shares Georgia- Pacific Corporation, Common 341.02 -14- $658.62 v LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED DISBURSEMENTS (continued) To Income-Personalty Account 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 (continued) Cash (continued) Proceeds sale (continued) 9/4/79 18 shares Black and Decker Manufacturing Company (6 shares received as 4%Stock Dividend on 9/8/72 and 12 shares received in a 3 for 1 Stock Split on 1/28/74) PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY Distributions in accordance with ARTICLE THREE.of the Will Maury S.Guttman Funds advanced in accordance with certificate of request executed by Maury S.Guttman on 2/19/73 Cash 2/27/73 Distributions for 1975 The Union National Bank of Pittsburgh Principal payment on $25,000 Demand Note of Maury S.Guttman dated 6/26/75 (paid in full) 7/9/75 $__4.;;...4:.....7....:.._7~5 $100,000.00 25,000.00 $1,106.37 $53,943.94 L Distributions for 1978 Cash 6/12/78 The Union National Bank of Pittsburgh Principal payment on Personal Demand Loan 6/12/78 $16,000.00 9,000.00 -15- 25,000.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE THREE.of the Will (continued) Maury S.Guttman (continued) Distributions for 1979 Cash 6/15/79 $20,000.00 Delivered 6/18/79 $5,000 Demand Note of Maury S.Guttman, 4%dated 11/8/77 5,000.00 Distributions for 1980 Cash 6/24/80 $15,000.00 Delivered 6/24/80 $10,000 Demand Note of Maury S.Guttman, 4%dated 11/8/77 10,000.00 ~$25,000.00 25,000.00 Distribution for 1981 Cash 6/26/81 $10,000.00 Delivered 6/26/81 $15,000 Demand Note of Maury S.Guttman, 4%dated 11/8/77 15,000.00 Distributions for 1982 Cash 6/23/82 $18,500.00 Delivered 6/28/82 Partial payment against $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #1)6,500.00 Dr.John C.McShane,DMD for Maury 7/23/82 $1,130.00 12/17/82 990.00 ./ 2,120.00 -16- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE THREE.of the Will (continued) Maury S.Guttman (continued) 3,632.00/ 500.00 Distributions for 1982 (continued) Dr.Ronald C.Perkins,DDS, MSD,Incorporated 7/23/82 Payment due for treatment of Julie Guttman $1,000.00 Maury S.Guttman Reimbursement for dental expenses for: Julie $2,200.00 Ginger 632.00 Maury 300.00 7/23/82 Tuition fee for Julie 9/30/82 The Glenwood Scheol Tuition for Julie for the months of: 10/82 9/30/82 $300.00 11/82 10/27/82 300.00 12/82 11/29/82 300.00 1/83 12/28/82 300.00 Dr.Patrick R.Brady,DDS Payments for Ginger per agreement: 7/23/82 $737.50 9/28/82 737.50 12/28/82 737.50 1,200.00 //2,212.50 $35,164.50 -17- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE THREE.of the will (continued) Maury S.Guttman (continued) $18,500.00 Distributions for 1983 Cash 6/20/83 Delivered 6/20/83 Balance of $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing .loan to Maury S. Guttman in the amount of $103,000 (Note #1) (Paid in full) The Glenwood School Tuition for Julie for months of: 2/83 1/27/83 $300.00 3/83 2/28/83 300.00 4/83 3/28/83 300.00 6,500.00 900.00 / Dr.Patrick R.Brady,DDS Payments for Ginger per agreement: 3/28/83 $737.50 6/28/83 737.50 ~ 1,475.00 Dr.Richard J.Dahar,DMD Payments for Ginger per agreement: 9/28/83 $737.50 12/27/83 737.50 ~ 0;.- Maury S.Guttman Reimbursement for tuition payment for Julie to Winchester- Thurston School 1,475.00 2,448.00 -18- $31,298.00 I/" LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE THREE.of the Will (continued) Maury S.Guttman (continued) Distributions for 1984 Cash 6/18/84 Delivered 6/19/84 Partial payment against $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #2) Winchester-Thurston School Tuition for Julie Maury S.Guttman Reimbursement for payment of tutoring for Julie Dr.Richard J.Dahar, DMD Payment for Ginger per agreement:. 3/27/84 Distributions for 1985 Cash 6/21/85 Delivered 6/27/85 Balance of $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #2) (Paid in full) .~ $18,500.00 6,500.00 2,400.00 1,900.00 737.50 $16,603.10 6,500.00 -19- $30,037.50"/ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE THREE.of the Will (continued) Maury S.Guttman (continued) Distributions for 1985 (continued) The Union National Bank of Pittsburgh Partial principal payment on $10,000 Commercial Demand Note of Maury S. Guttman $1,637.05 Interest due 6/1/85 2~9.85 $1,896.90 $25,000.00 Distributions for 1986 Cash 6/9/86 Delivered 6/11/86 Partial payment against $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #3) TOTAL PRINCIPAL DISTRIBUTIONS TOTAL PRINCIPAL DISBURSEMENTS PRINCIPAL INVESTMENTS $18,500.00 6,500.00 25,000.00 ./ $371,500.00 $425,443.94 l../ 2/7/72 2/7/72 2/7/72 400 shares Goodyear Tire and Rubber Company,Common at 30 100 shares Johnson and Johnson,Common at 104 1/2 200 shares Nabisco,Incorporated,Common at 58 1/4 $12,151.00 10,514.45 11,754.66 -0,-..-20- ------------------------------------ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL INVESTMENTS (continued) 2/7/72 100 shares Sears,Roebuck and Company, Common at 101 5/8 2/7/72 400 shares Texaco,Incorporated,Common at 33 3/8 2/7/72 300 shares Westinghouse Electric Corporation,Common at 44 4/4/72 $60,000 Community College of Delaware County Authority,Pennsylvania College Revenue Refunding Bond 4.75%dated 3/15/72 due 10/1/83 at 100 4/7/72 150 shares Black and Decker Manufacturing Company,Common 50 at 89 1/4 and 100 at 88 3/4 3/12/75 200 shares Sears,Roebuck and Company, Common at 65 3/8 3/12/75 100 shares Johnson and Johnson,Common at 95 1/4 3/12/75 600 shares Emerson Electric Company, Common at 33 1/2 3/12/75 100 shares International Business Machines Corporation,Capital at 215 3/19/75 $50,000 Pennsylvania Highway Bonds 5.75% dated 8/15/69 due 1/15/86 at 100.390 3/21/75 381 shares Black and Decker Manufacturing Company,Common 100 at 31 1/4,200 at 31 3/8 and 81 at 31 5/8 2/25/76 69 shares Black and Decker Manufacturing Company,Common at 25 5/8 6/4/76 11 shares International Business Machines Corporation,Capital at 254 3/8 9/20/76 7 shares International Business Machines Corporation,Capital at 283 7/8 12/30/76 543 shares Georgia-Pacific Corporation, Common 500 at 38 3/4 and 43 at 38 7/8 $10,226.66 13,507.76 13,338.00 60,000.00 13,462.66 13,236.46 9,605.73 20,396.34 21,580.73 I- 50,195.00 12,163.38 1,795.35 2,832.92 2,014.72 21,267.88 3/8/77 100 shares Emerson Electric Company, Common at 34 1/2 -21- 3,491.00 LEO DONALD GUTTMAN A?K/A LEO D.GUTTMAN,DECEASED PRINCIPAL INVESTMENTS (continued) 3/8/77 100 shares Johnson and Johnson,Common at 70 3/4 $7,132.00 3/11/77 133 shares Georgia-Pacific Corporation, Common 100 at 32 1/2 and 33 at 32 5/8 11/14/77 $5,000 Demand Note of Maury S.Guttman, 4%dated 11/8/77 11/14/77 $10,000 Deman~Note of Maury S.Guttman, 4%dated 11/8/77 11/14/77 $15,000 Demand Note of Maury S.Guttman, 4%dated 11/8/77 $7,000 The Union National Bank of Pittsburgh Master Savings Account 7/26/78 -10/26/78 3/16/79 $25,000 Pennsylvania Bonds 5.85%dated 8/15/69 due 1/15/89 at 98.525 3/19/79 30 shares General Reinsurance Corporation, Common at 174 $286,000 General Motors Acceptance Corporation Demand Notes at 100 2/14/72 -9/13/79 4,389.21 5,000.00 10,000.00 15,000.00 7,000.00 24,631.25 5,220.00 286,000.00 10/4/79 10/4/79 10/4/79 10/4/79 10/4/79 10/4/79 10/4/79 10/4/79 3/11/80 $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 Note #1 Note #2 Note #3 Note #4 Note #5 Note #6 Note #7 $12,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #8) $10,000 United States of America Treasury Notes 13.875%dated 2/29/80 due 2/28/82 at 98.59375 -22- 13,000.00 13,000.00 13,000.00 13,000.00 13,000.00 13,000.00 13,000.00 12,000.00 9,859.37 LEO DONALD GUTTMAN A?K/A LEO D.GUTTMAN,DECEASED PRINCIPAL INVESTMENTS (continued) 3/12/80 34 shares General Reinsurance Corporation, Cornmon at 79 1/2 2/24/81 300 shares Raytheon Company,Cornmon at 92 5/8 2/24/81 300 shares Halliburton Company,Common at 72 2/24/81 500 shares Atlantic Richfield Company, Cornman at 57 2/26/81 $30,000 Pennsylvania Bonds 7.50%dated 11/15/70 due 5/15/83 at 100 3/2/81 86 shares Halliburton Company,Cornman at 75 7/8 2/16/83 381 shares H.J.Heinz Company,Cornman at 38 7/8 4/15/83 $35,000 Pennsylvania Bonds 6.50%dated 11/15/75 due 5/15/87 at 100 5/24/83 $30,000 Pennsylvania Bonds 7%dated 6/1/83 due 12/1/87 at 100 $2,703.00 27,904.50 21,771.00 28,745.00 ~ 30,000.00 6,577.71 14,963.78 35,000.00 30,000.00 8/3/83 2/17/84 2/17/84 2/17/84 $50,000 Demand Note of Maury S.Guttman dated 8/3/83 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 324 shares General Re Corporation, Cornman 300 at 55 1/2 and 24 at 55 7/8 429 shares H.J.Heinz Company,Cornman at 37 1/2 200 shares International Business Machines Corporation,Capital at 110 1/2 50,000.00 18,159.48 16,233.36 22,196.00 2/17/84 2/23/84 400 shares Raytheon Company,Cornman at 41 3/8 $40,000 Pennsylvania Bonds 6.75%dated 8/15/75 due 2/15/89 at 97.540 $4,100 The Union National Bank of Pittsburgh Money Fund 7/19/84 -8/20/84 9/28/84 100 shares General Re Corporation,Cornman at 62 7/8 -23- 16,698.00 39,016.00 4,100.00 6,297.50 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL INVESTMENTS (continued) 1/9/86 $25,000 Western Wayne,Pennsylvania, School District MBIA Insured Bond 7% dated 12/1/85 due 9/15/92 at 100 $25,000.00 9/24/86 $35,000 Philadelphia,Pennsylvania, Gas Works Revenue BIGI Insured Bond 6.50%dated 9/1/86 due 7/1/94 at 100 $720,900 Federated Automated Government Money Trust 2/14/79 -12/2/86 $46,400 Federated Trust for Short-Term United States Government Securities Fund 12/9/86 -3/17/87 Cash disbursed to purchase the above assets PRINCIPAL CAPITAL CHANGES 35,000.00 720,900.00 46,400.00 /'$1,978,431.86 1,978,431.86 $0.00 2/20/75 7/14/82 American Telephone and Telegraph Company, Common 113 shares Decreed at 113 shares Sold $5,697.26 5,697.26 Black and Decker Manufacturing Company, Common 4/7/72 150 shares Purchased $13,462.66 12/12/72 6 shares Received as a 4%Stock Dividend as holder of record on 9/8/72 0.00 156 shares $13,462.66 2/14/73 29 shares Sold 2,502.67 127 shares $10,959.99· 3/5/74 254 shares Received in a 3 for 1 Stock Split as holder of record on 1/28/74 0.00 381 shares $10,959.99 3/21/75 381 shares Purchased 12,163.38 762 shares $23,123.37 2/25/76 69 shares Purchased 1,795.35 831 shares $24,918.72 9/4/79 831 shares Sold 24,918.72-- -24- 2/20/75 1/13/78 1/18/78 9/4/79 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) Cleveland Electric Illuminating Company, Common 189.000 shares Decreed at 94.500 shares Received in a 3 for 2 Stock Split as holder of record on 12/16/77 283.500 shares .500 share Sold 283.000 shares 283.000 shares Sold $ $ $ 6,013.86 0.00 6,013.86 0.00 6,013.86 6,013.86 3/12/75 3/8/77 9/4/79 3/19/79 6/26/79 3/12/80 7/22/80 6/10/82 2/17/84 9/28/84 1/21/85 12/30/76 3/11/77 3/29/77 4/7/77 Emerson Electric Company,Common 600 shares Purchased 100 shares Purchased 700 shares 700 shares Sold General Re Corporation (formerly General Reinsurance Corporation),Common 30 shares Purchased 30 shares Received in a 2 for I Stock Split as holder of record on 5/19/79 -go shares 34 shares Purchased94shares 94 shares Received in a 2 for 1 Stock Split as holder of record on 6/12/80 188 shares 188 shares Received in a 2 for 1 Stock Split as holder of record on 5/25/82 376 shares 324 shares Purchased 700 shares 100 shares Purchased "800 shares 800 shares Sold Georgia-Pacific Corporation,Common 543 shares Purchased 133 shares Purchased 676 shares 10 shares Received as a 2%Stock Dividend as holder of record on 2/25/77 686 shares 10 shares Sold 676 shares (carried forward) -25- $20,396.34 3,491.00 $23,887.34 23,887.34 $5,220.00 0.00 $5,220.00 2,703.00 $7,923.00 0.00 $7,923.00 0.00 $7,923.00 18,159.48 $26,082.48 6,297.50 $32,379.98 32,379.98 $21,267.88 4,389.21 $25,657.09 0.00 $25,657.09 394.43 $25,262.66 • LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) Georgia-Pacific Corporation,Common <continued) 676 shares (brought forward) 9/27/77 13 shares Received as a 2%Stock Dividend as holder of record on 8/26/77 689 shares 9/30/77 13 shares Sold 676 shares 7/14/82 30 shares Sold 646 shares 6/28/83 346 shares Sold 300 shares 1/21/85 300 shares Sold $25,262.66 0.00 $25,262.66 512.76 $24,749.90 1,165.25 $23,584.65 13,022.79 $10,561.86 10,561.86 2/7/ 2/9/73 2/24/81 3/2/81 9/13/83 9/28/84 2/16/83 10/12/83 10/21/83 2/17/84 10/17/85 9/16/86 3/12/75 6/4/76 Goodyear Tire and Rubber Company, Common 400 shares Purchased 400 shares Sold Halliburton Company,Common 300 shares Purchased 86 shares Purchased 386 shares 186 shares Sold 200 shares 200 shares Sold H.J.Heinz Company,Common 381.000 shares Purchased 190.500 shares Received in a 3 for 2 Stock Split as holder of record on 9/23/83 571.500 shares ____~.~5~O~0 share Sold 571.000 shares 429.000 shares Purchased 1,000.000 shares 1,000.000 shares Received in a 2 for 1 Stock Split as holder of record on 9/23/85 2,000.000 shares 500.000 shares 'Sold 1,500.000 shares International Business Machines Corporation,Capital 100 sh~res Purchased 11 shares PurchasedTITshares(carried forward) -26- $12,151.00 12,151.00 $21,771.00 6,577.71 $28,348.71 13,834.71 $14,514.00 14,514.00 $14,963.78 0.00 $14,963.78 0.00 $14,963.78 16,233.36 $31,197.14 0.00 $31,197.14 9,460.00 $21,737.14 $21,580.73 2,832.92 $24,413.65 • LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) International Business Machines Corporation,Capital (continued) III shares (brought forward) 9/20/76 7 shares Purchased 118 shares 7/19/79 354 shares Received in a 4 for 1 Stock Split as holder of record on 5/10/79 472 shares 7/14/82 72 shares Sold 400 shares 2/17/84 200 shares Purchased 600 shares 9/19/86 100 shares Sold 500 shares $24,413.65 2,014.72 $26,428.37 0.00 $26,428.37 4,847.64 $21,580.73 22,196.00 $43,776.73 11,098.00 $32,678.73 2/7/72 3/12/75 3/8/77 5/22/81 2/7/72 2/9/73 2/24/81 6/29/81 2/17/84 2/7/72 3/12/75 7/20/77 Johnson and Johnson,Common 100 shares Purchased 100 shares Purchased 200 shares 100 shares Purchased 300 shares 600 shares Received in a 3 for 1 Stock Split as holder of record on 4/21/81 900 shares Nabisco,Incorporated,Common 200 shares Purchased 200 shares Sold Raytheon Company,Common 300 shares Purchased 300 shares Received in a 2 for 1 Stock Split as holder of record on 6/8/81 600 shares 400 shares Purchased 1,000 shares Sears,Roebuck and Company,Common 100 shares Purchased 200 shares Purchased 300 shares 300 shares Received in a 2 for 1 Stock Split as holder of record on 5/27/77 600 shares -27- $10,514.45 9,605.73 $20,120.18 7,132.00 $-27,252.18 0.00 $27,252.18 $11,754.66 11,754.66 $27,904.50 0.00 $27,904.50 16,698.00 $44,602.50 $10,226.66 13,236.46 $23,463.12 o.oc $23,463.12 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED , PRINCIPAL CAPITAL CHANGES (continued) Texaco,Incorporated,Common 2/7/72 400 shares Purchased 2/9/73 400 shares Sold-0 shares 2/20/75 258 shares Decreed at 9/4/79 258 shares Sold $13,507.76 13,507.76 $0.00 7,433.51) $7,433.55 2/7/72 6/28/83 4/4/72 2/12/73 2/26/81 5/15/83 3/19/75 6/28/83 1/15/86 2/20/75 4/15/83 2/20/75 3/13/75 Westinghouse Electric Corporation,Common 300 shares Purchased 300 shares Sold Community College of Delaware County- Authority,Pennsylvania College Revenue Refunding Bond 4.75%dated 3/15/72 due 10/1/83 $60,000 Purchased 60,000 Sold Pennsylvania Bonds 7.50%dated 11/15/70 due 5/15/83 $30,000 Purchased 30,000 Matured Pennsylvania Highway Bonds 5.75%dated 8/15/69 due 1/15/86 $50,000 Purchased 25,000 Sold $25,000 25,000 Matured Upper Darby Township,Pennsylvania Bonds 5.10%dated 4/15/74 due 4/15/83 $20,000 Decreed at 20,000 Matured United States of America Treasury Bills da~ed 9/12/74 due 3/13/75 $40,000 Decreed at 40,000 Matured $13,338.00 13,338.00 $60,000.00 60,000.00 $30,000.00 30,000.00 $50,195.00 25,097.50 $25,097.50 25,097.50 $20,000.00 20,000.00 $38,184.00 38,184.00 $51,341 Promissory Note of Envoy Towboat, Incorporated,4%dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payment 2/1/75 $53,828 Promissory Note of Explorer Towbo~t,Incorporated,4%dated"2/1/72 due 2/1/87 2/20/75 Decreed at Principal payment 2/1/75 -28- $16,429.00 16,429.00 $20,095.00 20,095.00 • LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued), $53,596 Promissory Note of Express Towboat,Incorporated,4%dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payment 2/1/75 $74,267 Promissory Note of Gutbro Barge Lines,Incorporated,4%dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payments 2/1/75 -12/13/76 $200,282 Promissory Note of Gutbro Development Company,4%dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payments 7/1/75 -2/4/85 $47,398 Promissory Note of Jesse B. Guttman Towboat~Incorporated,4% dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payments 2/1/75 -2/1/78 $376,818 Promissory Note of Guttman Petroleum Company,4%dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payments 7/1/75 -2/1/82 $50,146 Promissory Note of Martin G. Towboat,Incorporated,4%dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payments 2/1/75 -10/27/77 $129,458 Promissory Note of Mon Valley Terminal,Incorporated,4%dated 2/1/72 due 2/1/87 2/20/75 Decreed at Principal payments 2/1/75 -1/31/84 $20,009.00 20,009.00 $39,608.92 3,9,608.92 $117,498.00 117,498.00 $37,918.00 37,918.00 $281,357.44 281,357.44 $40,116.00 40,116.00 $117,374.69 117,374.69 • 11/14/77 6/18/79 $5,000 Demand Note of Maury S.Guttman~ 4%dated 11/8/77 $5,000 Purchased 5,000 Delivered (See page 16) $5,000.00 5,000.00 -'""..-29- .. LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) • $10,000 Demand Note of Maury S.Guttman, 4%dated 11/8/77 11/14/77 $10,000 Purchased 6/24/80 10,000 Delivered (See page 16) $15,000 Demand Note of Maury S.Guttman, 4%dated 11/8/77 11/14/77 $15,000 Purchased 6/26/81 15,000 Delivered (See page 16 ) $10,000.00 10,000.00 $15,000.00 15,000.00 10/4/79 6/28/82 6/20/83 10/4/79 6/19/84 6/27/85 10/4/79 6/11/86 $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of ·Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #1) $13,000 Purchased 6,500 Delivered (See page 16) $6,500 6,500 Delivered (See page 18)(paid in full) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #2) $13,000 Purchased 6,500 Delivered (See page 19) $6,500 6,500 Delivered (See page 19)(paid in full) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #3) $13,000 Purchased 6,500 Delivered (See page 20) $6,500 General Motors Acceptance Corporation Demand Notes $286,000 Purchased 2/14/72 -9/13/79 286,000 Redeemed 4/12/72 -10/4/79 $13,000.00 6,500.00 $6,500.00 6,500.00 $13,000.00 6,500.00 $6,500.00 6,500.00 $13,000.00 6,500.00 $6,500.00 $286,000.00 286,000.00 3/11/80 2/28/82 United States of America Treasury Notes 13.875%dated 2/29/80 due 2/28/82 $10,000 Purchased 10,000 Matured.......... -30- $9,859.37 9,859.37 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) The Union National Bank of Pittsburgh Master Savings Account $7,000 Deposited 7/26/78 -10/26/78 7,000 Withdrawn 3/7/79 The Union National Bank of Pittsburgh Money Fund $4,100 Deposited 7/19/84 -8/20/84 4,100 Withdrawn 9/28/84 Federated Automated Government Money Trust $720,900 Purchased 2/14/79 -12/2/86 720,900 Redeemed 3/23/79 -12/9/86 Federated Trust for Short-Term United States Government Securities Fund $46,400 Purchased 12/9/86 -3/17/87 27,100 Redeemed 12/15/86 -4/21/87 $19,300 INCOME -PERSONALTY' $6,355.67 being amount Awarded by Adjudication and Decree of Distribution dated January 22,1975 at No.63-71-1082 and $1,106.37 being Distribution from Principal to Income Beneficiary of Stock Dividend Shares ("in kind"or the proceeds sale thereof)deemed to be Income and all Income received and Disbursements made from March 6,1972 to April 1,1987 (Date of last Quarterly Statement)have been accounted for by Statements rendered Maury S.Guttman RECEIPTS Balance in accordance with last Quarterly Statement dated April 1,1987 INCOME -PERSONALTY DISBURSEMENTS The Union National Bank of Pittsburgh Income fee for the period 1/1/78 -7/1/82 -31- '.,. $7,000.00 7,000.00 $4,100.00 4,100.00 $720,900.00 720,900.00 $46,400.00 27,100.00 $19,300.00 $2,000.00 $1,282.39 DONALD L.DAWSON,Vice President of THE UNION NATIONAL BANK OF PITTSBURGH,Surviving Trustee under the Will of LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,Deceased,hereby delcares under oath that said Trustee has fUlly and faithfully discharged the duties of his office;that the foregoing First and Partial Account is true and correct,and fUlly discloses all significant transactions occurring during the accounting period;that all known claims against the trust have been paid in fUll;that,to his knowledge, there are no claims now outstanding against the Trust Estate;and that all taxes presently due from the trust have been paid. VICE PRESIDENT Subscribed and sworn to by DONALD L.DAWSON before me this 1/:zL day of ~,1987 ~~V~~ Notary ~c THERESA KUBICAR,NOTARVPUBLIC " .JltJTSBURGH,ALLEGHENY COUNTY MY COMMISSION EXPIRES DEC.u.1989 .tlllbet,.;Pennsy/Y.ania AS$ociation !t.~ST 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. THE UNION;;NATIONAL BANK OF PITTSBURGH ~x~r-r-BY ~......:;.=:....:-_ Vice President ." ".. " I in tlJe Qtuurt uf Q!umnwn 'leas uf JIIus1]ingtDn aLnunfy. JttmByluania OOrp1]ans·aruurt llittiBwn 71-1082AESTATEOFNo.63-----------._ LEO DONALD GUTTMAN A/K/A FIRST AND PARTIALInthemotterofthe_ LEO D.GUTTMAN,DECEASED THE UNION NATIONAL BANKAccountof_ TRUST FOR MARGARET L.GUTTMAN OF PITTSBURGH,SURVIVING TRUSTEE s~f$~ SCHEDULE OF DISTRIBUTION ADJUDICATION AND DECREE And naw July .(7 ,19E-,this motter having come on for hearing,audit and distribution and testimony token;upon due consideratloo ~i~f,Y'e bal- once for distribution in the hands of the Accountant is determined to be $,U 16 , •8 ond the account is accordingly confirmed;and it is ordered,adjudged and decreed that the said bal- once be paid out by the Accountont in accordance with the schedule of distribution hereto attached and made a part hereof,unless exceptions hereto,be filed sec.reg.or an appeal taken herefrom sec_ leg-BY THE COURT Balonce per~t First And Partial Account filed Additional Debits -Audit Additional Credits -Audit $.1 , 025, 527•40 2,679.97 $1,048~207.37 1,289.54 Bolancec.~:__~~--------J Buchanan Ingersoll,P.C.Attomey 1 To:The Union National Bank of Pittsburgh, Surviving Trustee under Article Three of the Willi for Margaret L. Guttman for further administration and accounting: Balance viz: Principal -Personalty Stocks ·~;0 00 -..J,~I"T1..,0 c__ ..-c=:::tl·-Uj r-o·-l I"T1·..G':lrr1r-v -"::A co er...,,.,C --1 !:-::D rn ::3 .'.5 :t _0, -j--->,-,r- :.r 0u:c..:>c...:> 1,000 shares Atlantic Richfield Company,Common 45,017.2 t 1,000 shares Emerson Electric Company,Common 39,413.3 2,500 shares General Re Corporation, Common 25,277.6 0 ~~-.~z r:'n ..!J a 0 :r I c CD 0-•::J 3 i.. 0 0 Q--:; t'\ CD I i ~ 0 I-I:fIt I =: & '1 uri ~ ~ I ::l i I~ ~ I ~ I I I "... cl .. Stocks (Continued) 2,000 shares H.J.Heinz Company, Common 800 shares International Business Machines Corporation,Capital 1,300 shares Johnson and Johnson, Common 1,000 shares Sears,Roebuck and Company,Common Bonds $26,154.17 45,612.41 48,140.36 35,374.64 $10,000 Armstrong County,Pennsylvania School District MBIA Insured 6.75% dated 6/1/85 due 7/1/89 10,000.00 $50,000 Butler,Pennsylvania Area Sewer Revenue AMBAC Insured 5.90% dated 5/1/86 due 7/1/92 50,000.00 $75,000 Chartiers Valley, Pennsylvania School District MBIA Insured 5.90%dated 4/1/86 due 10/1/91 75,000.00 $60,000 Fort LeBoeuf,Pennsylvania School District MBIA Insured 6.20%dated 6/15/87 due 7/1/93 60,000.00 $30,000 Pennsylvania 5.85%dated 8/15/69 due 1/15/89 29,557.50 $40,000 Pennsylvania 9.10%dated 3/1/80 due 9/1/88 40,000~00 $30,000 South Park,Pennsylvania School District 7.75%dated 10/1/83 due 1/1/89 30,000.00 $30,000 United States of America Treasury Bills dated 7/2/87 due 12/31/87 29,090.10 $85,000 United States of America Treasury Bills dated 2/19/87 due 8/20/87 83,704.60 ·...." Notes $30,000 Demand Note of Margaret L. Guttman dated 1/6/76 (non-interest bearing)Unpaid Balance $45,000 Demand Note of Margaret L. Guttman dated 2/20/79 (non-interest bearing)Unpaid Balance $225,000 Promissory Note of Maury S.Guttman 9%dated 3/13/85 Temporary Investment $62,000 Federated Trust for Short-Term United States Government Securities Fund (Treat as Cash) Cash Income -Personalty Cash $18,500.00 36,500.00 225,000.00 62,000.00 $1,014,342.00 2,287.89 $1,016,629.89 287.94 $1,016,917.83 No Balance ._- .... ~. No.63-71-1082A In the matter of the FIRST AND PARTIAL Account of THE UNION NATIONAL BANK OF PITTSBURGH,SURVIVING TRUSTEE of Estate of LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED TRUST MARGARET L.GUTTMAN ADJUDICATION AND DECREE , James W.Urnrner,Esquire Buchanan Ingersoll,P.C. USX Tower 57th Floor 600 Grant Street Pittsburgh,PA 15219 (412)562-8800 • ESTATE OF oroud of C!!onun.an Itlta.a of JIIa.aqingtDn aInunfy. JtttUsyluania OOrp~an.a·C60urt lIiuisinn 71-1082BNo.63-.. _ J LEO DONALD GUTTMAN A/K/A FIRST AND PARTIAL,In the motter of the _ LEO D.GUTTMAN,DECEASED THE UNION NATIONAL BANKAccountof_ TRUST FOR MAURY S.GUTTMAN OF PITTSBURGH,SURVIVING TRUSTEE ADJUDICATION AND DECREE And r'QW July d 1 ,19~,this matter having come on for hearing,audit and distribution and testimony token;upon due consideration thereof"the bolo ance for distribution in the hands of the Accountant is determined to be $483 , 6 9l •~5 . and the account is accordingly confirmed;and it is ordered,adjudged and decreed that the said bolo ance be paid out by the Accountant in accordance with the schedule of distribution hereto ottached and mode a part hereof,unless exceptions hereto,be filed sec.reg.or on appeal token herefrom sec. leg.BY THE COURT, ~ot.~ >SAMUEL L.RODGE~ SCHEDULE OF DISTRIBUTION $.507,71 0•72 7,288.8<$514,999.61 ~1,307.3EAdditionalCredits-Audit Bolancl;..e 1 Balance per W~First And Partial Account filed Additional Debits -Audit Attomey B._u_c_h_a_n_a_n_I_n-=g_e_r_s_o_l_l~,_P_._C_.I To:The Union National Bank of Pittsburgh, Surviving Trustee under Article Three of the Will;for Maury S. Guttman for further administration and accounting: Balance viz: principal -Personalty Stocks 500 shares Atlantic Richfield Company,Common 28,745.0 1,500 shares H.J.Heinz Company, Common 21,737.1 500 shares International Business Machines Corporation,Capital 32,678.7 5 ~. J ' 1 ~ 0-~II' -S"~,a S ... ....c l•::J 0- 0 ..3 i t -0 Q =-i f I.. III 0r 0-I;. Q\ ell I ~ =& \ '" ~ i '~S , I I ~ II ,, stocks (Continued) 900 shares Johnson and Johnson, Common 1,000 shares Raytheon Company, Common 600 shares Sears,Roebuck and Company,Common Bonds $25,000 Pennsylvania 5.85%dated 8/15/69 due 1/15/89 $40,000 Pennsylvania 6.75%dated 8/15/75 due 2/15/89 $30,000 Pennsylvania 7%dated 6/1/83 due 12/1/87 $35,000 Pennsylvania State Public School Building Authority Lease Revenue Mid Valley School District AMBAC Insured 5.60%dated 6/1/87 due 9/1/90 $35,000 Philadelphia,Pennsylvania Gas Works Revenue BIGI Insured 6.50% dated 9/1/86 due 7/1/94 $25,000 Western Wayne,Pennsylvania, School District MBIA Insured 7% dated 12/1/85 due 9/15/92 Notes $13,000 Demand Note of Maury S. Guttman dated 10/4/79 to Howard s.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 - securing loan to Maury S.Guttman in the amount of $103,000 (Note #4) $13,000 Demand Note of Maury S. Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S.Guttman in the amount of $103,000 (Note #5) $27,252.18 44,602.50 23,463.12 24,631.25 39,016.00 30,000.00 35,000.00 35,000.00 25,000.00 13,000.00 13,000.00 "•...'C-.....Notes (continued) $13,000 Demand Note of Maury S. Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S.Guttman in the amount of $103,000 (Note #6) $13,000 Demand Note of Maury S. Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S.Guttman in the amount of $103,000 (Note #7) $12,000 Demand Note of Maury S. Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S.Guttman in the amount of $103,000 (Note #8) $50,000 Demand Note of Maury S. Guttman dated 8/3/83 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S.Guttman (non-interest bearing) Temporary Investment $100 Federated Trust for Short-Term United States Government Securities Fund (Treat as Cash) Cash Income -Personalty Cash $13,000.00 13,000.00 12,000.00 50,000.00 100.00 $481,225.92 93.19 $481,319.11 2,373.14 $483,692.25 No Balance / 4'",.. .~ • No.63-711-1082B In the matter of the FIRST AND PARTIAL Account of THE UNION NATIONAL BANK OF PITTSBURGH,SURVIVING TRUSTEE of Estate of LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED TRUST MAURY S.GUTTMAN ADJUDICATION AND DECREE James W.Urnmer,Esquire" Buchanan Ingersoll,P.C. USX Tower 57th Floor 600 Grant Street Pittsburgh,PA 15219 (412)562-8800 I~\ IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA LEO DONALD GUTTMAN,DECEASED FOR MARGARET GUTTMAN ORPHANS'COURT DIVISION NO.63-71-1082A RECEIPT,RELEASE,INDEMNIFICATION AND REFUNDING BOND "CODE TRUST UNDER WILL II FILED ON BEHALF OF HOWARD S. GUTTMAN (NOW DECEASED)AND INTEGRA TRUST COMPANY,NATIONAL ASSOCIATION,INTEGRA NATIONAL BANK/PITTSBURGH AND THE UNION NATIONAL BANK OF PITTSBURGH, TRUSTEES COUNSEL OF RECORD HERMAN BIGI PA I.D.#05328 BIGI AND ASSOCIATES 337 FALLOWFIELD AVENUE CHARLEROI,PA.15022 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA IN RE: LEO GUTTMAN,DECEASED FOR MARGARET GUTTMAN #HO-9322-AOO No.63-71-1082A RECEIPT,RELEASE,INDEMNIFICATION AND REFUNDING BOND I,Maury S Guttman,hereby acknowledge having received and reviewed a copy of the Will of Leo Donald Guttman.In addition,I hereby acknowledge having examined the Statements prepared by Integra Trust Company,National Association,Successor to Howard S.Guttman (now deceased)and Integra National Bank/Pittsburgh,Trustees under the Will of Leo Donald Guttman (hereinafter referred to as "Integra"),attached hereto and made a part hereof as Exhibit "A",detailing the principal receipts and disbursements and the income receipts and disbursements and am satisfied that the Statements represents a true and accurate representation of the activity occurring in Leo Donald Guttman during the period beginning August 31,1995 and ending on the date last set forth below.I ratify and confirm the completeness and accuracy of the Statements ,waive my right to receive Statements from the inception of the Trust,and accept the distribution hereunder,together with all previous distributions set forth in said Statements,in full satisfaction of any and all rights,interest and claims which I may have therein.I hereby acknowledge receipt of the following: PRINCIPAL -PERSONALTY CLOSING PRICES AS OF 11/24/95 Stocks ACCOUNT VALUE 650 Shares Atlantic Richfield Company,Common 2,850 Shares Emerson Electric Company,Common 2,000 Shares General Re Corporation, Common 3,450 Shares H J Heinz Company,Common 3,700 Shares Johnson &Johnson Company, Common Notes 30,000 Demand Note of Margaret L. Guttman Dated 01/06/76 (Non Interest Bearing) 45,000 Demand Note of Margaret L. Guttman Dated 02/20/79 (Non Interest Bearing) 225,000 Promissory Note of Maury S.Gutman 9%Dated 03/13/85 Temporary Investment Inventor Prime Obligations Money Market Fund #375 $70,931.25 210,900.00 296,000.00 109,968.75 312,650.00 10,500.00 28,500.00 225,000.00 3,697.79 $1,268,147.79 $29,122.60 37,177.77 20,107.50 15,038.65 25,821.86 10,500.00 28,500.00 225,000.00 3,697.79 $394,966.17 Cash Bank's Fee Cost of Filing $405.28 385.28 20.00 INCOME -PERSONALTY 0.00 0.00 Inventor Prime Obligations Money Market Fund #375 $4,220.21 $1,272,368.00 $4,220.21 $399,186.38 In consideration of Integra's willingness to make the distribution hereunder without first securing the benefit of a formal court audit,I agree to be bound hereby and to bind my heirs,personal representatives and assigns,to: A.Release Integra,its successors and assigns,from any and all liability which it may have by reason of its administration of said Trust through the date below,including but not limited to any liability for federal,state or local income taxes,all estate taxes,inheritance taxes, transfer taxes and other taxes of a similar nature,and any interest or penalties related thereto which may be assessed against me or my estate; B.Release Integra from proceeding with any further steps in the administration of said Trust including the filing of a final Account, holding of an Audit or petitioning for issuance of a Decree; C.Indemnify Integra and save it harmless from and against my pro rata share of any and all liabilities and expenses (including attorneys' fees and other costs of litigation or taxes of any type)which may be assessed against Integra or the said Trust arising by reason of Integra's administration of said Trust through the date below,or to which Integra or the said Trust may be subjected after the date below by reason of such administration; D.Waive the issuance of any notice whatsoever that may be required to be given to me either by law or Rules of Court;and E.Refund or return promptly,upon Integra's written demand,any property received by me hereunder,or the value thereof,which may be determined to have been distributed to me improperly by mistake,negligence or otherwise. ~ DATED this 13--- ~~___-=~,19jf ~r:~f ~~(SEALI 3 NET INVESTED CASH CHANGES ACCOUNT NUMBER:HO-9322-AO-0 ***STATEMENT SUMMARY *** **BEGINNING BALANCES ** TOTAL RECEIPTS TOTAL DISBURSEMENTS **ENDING BALANCES ** STATEMENT OF TRANSACTIONS ACCOUNT NAME:LEO DONALD GUTTMAN FOR MARGARET INCOMECASH $352.31- 5,933.11 1,360.59- 4,220.21- $.00 PAGE 5 DATE 11/29/95 ADMINISTRATIVE OFFICER:DMG PRINCIPAL ASSET CARRYINGCASHVALUE $.00 $404,309.29 50,682.07 .00 49,716.91-9,903.00- 965.16-5,185.37 $.00 $399,591.66 ~ +-I .~ ,0 .~..c:~~ 3 STATEMENT OF TRANSACTIONS ACCOUNT NAME:LEO DONALD GUTTMAN FOR MARGARET INCOMECASH ACCOUNT NUMBER:HO-9322-AO-0 PAGE 4 DATE 11/29/95 ADMINISTRATIVE OFFICER:DMG DATE DESCRIPTION SALES (3)09/01/95 TO 11/29/95INVENTORPRIMEOBLIGATIONSMONEYMARKETFUNDD3233 PURCHASES (3)09/01/95 TO 11/29/95INVENTORPRIMEOBLIGATIONSMONEYMARKETFUNDD3233 PURCHASES(10)09/01/95 TO 11/29/95 INVENTOR PRIME OBLIGATIONSMONEYMARKETFUNDD3233 BALANCE THIS STATEMENT 1,360.59 5,580.80- .00 PRINCIPALCASH 49,429.98- .00 ASSET CARRYINGVALUE 1,360.59- 49,429.98 5,580.80 399,591.66 3 ACCOUNT NUMBER:HO-9322-AO-0 SOLD 100 SHARESTRADEDON10/16 @ $104.375EXECUTIONSERVICESLESSCOMM$5 &EXP .35ATLANTICRICHFIELDCOCOM SOLD 200 SHARESTRADEDON10/16 @ $147EXECUTIONSERVICESLESSCOMM$10 &EXP .98GENERALRECORPCOM SOLD 100 SHARESTRADEDON10/16 @ $47.25EXECUTIONSERVICESLESSCOMM$5 &EXP .16HJHEINZCOCOM MAURY GUTTMANREIMBURSEMENT FOR EXPENSES(MEDICAL,HOUSEHOLD,CLOTHINGPLUS1993CADILLAC)PER TAlC APPROVAL PAGE 3 DATE 11/29/95 ADMINISTRATIVE OFFICER:DMG DATE 10/19/95 10/20/95 DESCRIPTION STATEMENT OF TRANSACTIONS ACCOUNT NAME:LEO DONALD GUTTMAN FOR MARGARET INCOMECASH PRINCIPALCASH 10,432.15 29,389.02 4,719.84 43,091.32- ASSET CARRYINGVALUE 4,480.40- 2,010.75- 653.85- 10/23/95 .. 10/31/95 11/01/95 11/10/95 11/13/95 11/29/95 MARKET VALUE FEE ENDING INT TO 10/31/95INVENTORPRIMEOBLIGATIONSMONEYMARKETFUND#375 REFUND OF ADVISORY FEEINVENTORPRIMEOBLIGATIONSMONEYMARKETFUND#375 RECD 1,150.SHS AS A .50STOCKSPLITON2,300.SHSHJHEINZCOCOM SALES (6)09/01/95 TO 11/29/95INVENTORPRIMEOBLIGATIONS-MONEY MARKET FUND #3233- ,,.'~.. 437.94- 54.33 1.97 437.94- 48,464.82 48,464.82- 3 ACCOUNT NUMBER:HO-9322-AO-0 STATEMENT OF TRANSACTIONS ACCOUNT NAME:LEO DONALD GUTTMAN FOR MARGARET INCOMECASH ASSET CARRYINGVALUE 2,258.00- PAGE 2 DATE 11/29/95 ADMINISTRATIVE OFFICER:DMG 422.65- 875.00- 5,641.06 PRINCIPALCASH 875.00- .80 18.01 80.00 954.00 1,100.00 422.65- 1,078.00 09/21/95 DESCRIPTION REIMBURSEMENT FORPERSONALCAREEXPENSESMAURYSGUTTMAN $1.375 DIV ON 800.SHSATLANTICRICHFIELDCOCOM SOLD 50 SHARESTRADEDON09/15 @ $112.875EXECUTIONSERVICESLESSCOMM$2.50 &EXP .19ATLANTICRICHFIELDCOCOM REIMBURSEMENT FORPERSONALCAREEXPENSESMAURYSGUTTMAN FUNDS DEPOSITED REPRESENTSREDEMPTIONOF800.000RIGHTS@$.10 PER RIGHTRECDFROMATLANTICRICHFIELDCOCOM MARKET VALUE FEE ENDING $.49 DIV ON 2,200.SHSGENERALRECORPCOM INT TO 09/30/95 INVENTOR PRIME OBLIGATIONSMONEYMARKETFUNDft3233 $.3975 DIV ON 2,400.SHSHJHEINZCOCOM REFUND OF ADVISORY FEEINVENTORPRIMEOBLIGATIONSMONEYMARKETFUNDft3233 DATE 09/14/95 09/21/95 09/18/95 09/20/95 09/25/95 09/29/95 10/02/95 10/11/95 10/13/95 ~"~,. ~ '-.. ---------------------------_.•_--_._---------~-------------- 3 ACCOUNT NUMBER:HO-9322-AO-0 875.00- 250.00- 250.00- 250.00-250.00 250.00-250.00 1,396.50 1.24 2,850.00- 290.00- STATEMENT OF TRANSACTIONS ACCOUNT NAME:LEO DONALD GUTTMAN FOR MARGARET INCOMECASH ASSET CARRYINGVALUE 404,309.29 PAGE 1 DATE 11/29/95 ADMINISTRATIVE OFFICER:DMG .00 PRINCIPALCASH 352.31- 27.26 1,221.00 ~,¥~~r. DESCRIPTION BALANCE LAST STATEMENT INT TO 08/31/95INVENTORPRIMEOBLIGATIONSMONEYMARKETFUND~3233 $.33 DIV ON 3,700.SHSJOHNSON&JOHNSON COM REIMBURSEMENT FORPERSONALCAREEXPENSESMAURYSGUTTMAN CARRYING VALUE REDUCED TO REFLECTPRINCIPALPAYMENTONDEMANDNOTEOFMARGARETL.GUTTMANDTD2-20-79 (NON INTEREST BEARING) CARRYING VALUE REDUCED TO REFLECTPRINCIPALPAYMENTONDEMANDNOTEOFMARGARETL.GUTTMANDTD1-6-76 (NON INTEREST BEARING) TRANSFER OF FUNDS TRANSFER OF FUNDS $.49 DIV ON 2,850.SHSEMERSONELECTRICCOCOM REFUND OF ADVISORY FEEINVENTORPRIMEOBLIGATIONSMONEYMARKETFUND~3233 INTERNAL REVENUE SERVICE (MT)PAYMENT OF THIRD QUARTERESTIMATEDFIDUCIARYTAXESFORTAXYEARENDING12/31/95 PA DEPT OF REVENUEPAYMENTOFTHIRDQUARTER ~STATE ESTIMATED FIDUCIARY TAXESFORTAXYEARENDING12/31/95 09/06/95 09/07/95 09/11/95 DATE 08/31/95 09/01/95 09/12/95 09/13/95 ,~. ~.. ..-'l •~'. .~ I ,.)- •• ~u t4t O!nurt nf O!nmmnu 'Itna·nf Ifnal1iugtnu O!nuuty (@rp4nua'O!nurt linislnu In the matter of the Audit of Account in Estate of Leo Donal d Guttman a/k/a Leo D.Guttman,Deceased Trust for Maury S.Guttman TO THE AUDITING JUPGE: No.63-7n ··1 082B Enter my appearance for__.....lT....l.h..LJe:;;:._.\"ITIL.J.,;Ql..jl..\O~;Q~..LlNka;L...tl",."l.j....ol,l,,;Qka;l..,l.l.-.cB'""au;n..LJk~....Qu.f _ Pi ttsbllrgb,Sllrvivi ng Trustee Ummer,Esquire ::JULY .19.12 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 state- ment in that regard. No.63-7~-1 082B In re Audit of Account In Estate of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased Trlist for Maury S.Guttman AUDIT 'rn~rip~fnr 1\pp~nrnUt~ FOR TheUnion~tional Bank of Pittsburgh,Surviving Trustee James W.Ummer,Esquire Buchanan Ingersoll,P.C. USX Tower,57th Floor 600 Grant Street ~~ Of"'3 ll,.Of"H I :;l,l;-r.;1 (412)562-8800 .....2 Attorne.)' ~l c '. ~n t4t Q!nurt nf (ttnmmnn 'Itua nf Ihla4ingtnn"CltnUttt!J (@rp4ana'Q!nurt litriawn ID the matter of the Audit of Account in -JIl&tate of Leo Don a]d GlJ ttman a/k /a for Margaret L:Guttman TO THE AUDITING JUD,GE: NO.,_----J,6.Lo3,L;-::...J..7-l.1..;;:-:...J11....l10.u8'-l-2~A _ EDter__m~y .appearance for_---olT....h"'"e ...IIu.n.....JI.J·o....n.u.....J,;N"-'a..t.......i ....ou.DJ.<a..].L.-.J;;BL.l;a;l.lD.l..oke--....ouf _ Pitt5bnrgl:l.,Surviving TrlJstee Ummer,Esquire .Jucy 19.1l 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 conchely stated in a separate paper. Councll suggesting proper distribution ~all fUe a separate concise state- ment in that regard. No.63-71-1082A In re Audit of Account in Estate of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased Trust for Margaret L.Guttman AUDIT Jratript fnr ApptaraUtt FOR The Union~ational Bank of Pittsburgh,Surviving Trustee James W.Urnrner,Esquire 'Buchanan Ingersoll,P.C. USX Tower,57th Floor 600 Grant Street Pgh,PA 15219 (412)562-8800 Attorn&)" ~a i~,,- j IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED ORPHANS'COURT DIVISION NO.63-71-1082B PETITION SUR AUDIT "CODETRUST'-=U=-=N=-D=ER=--=W=I=L='""L"...-------" PRESENTED ON BEHALF HOWARD S.GUTMANN (NOW DECEASED) AND THE UNION NATIONAL BANK OF PITTSBURGH,SURVIVING TRUSTEE COUNSEL OF RECORD JAMES W.UMMER,ESQUIRE PA.LD.#16428 BUCHANAN INGERSOLL, PROFESSIONAL CORPORATION FIRM #038 USX TOWER 57TH FLOOR 600 GRANT STREET PITfSBURGH,PA 15219 (412)562-8800 .t • ",t ·.,,. • '0 .. PETITION SUR AUDIT 'V-0, IN THE ORPHANS'COURT OF WASHINGTON COUNTY Estate of Leo Donald Guttman a/k/a Filed at No.63-71-1082B Leo D.Guttman,Deceased For Maury S.Guttman Life Tenant Date of trust October 23,1971 If there have been former accounts filed in this estate,list: Fiduciary The Union National Bank of Pittsburgh,Surviving Trustee Place of record of appointment Register of Wills of Washington County, Pennsylvania No.63-71-1082 (First and Final Account of Estate of Leo Donald Guttman,Deceased) Reason for filing this account Howard S.Guttman,Co-Trustee, died September 17,1986. All persons having any interest,vested or contingent (including claimants),in the fund now before the Court,with the nature of their interests are:Maury S.Guttman,son of testator,and life tenant under Article III of the Will.Maury S.Guttman to --;,;.,----:-----~-----------------------.------------_._--- receive all of the income at age forty (40)years.In addition, Mr.Guttman to receive so much of principal as needed for any emergency or for his personal use,but not to exceed $25,000.00 in anyone calendar year. All of said parties have received notice as required by the Court Rules except as follows:NONE 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:Petitioner wishes to bring to the Court's attention,that the dates on the caption of the First and Partial Account have been incorrectly stated from December 31,1971 to April 21,1987,and requests that the said dates be changed to December 31,1971 to April 1, 1987 for matter of Court records. Balance for distribution per account,Principal $506,993.11 Additional debits not shown in account: See Exhibit "A"attached Principal -Personalty $0.00 Income $717.61 Income -Personalty 7,288.89 Total additional debits $7,288.89 -2- Additional credits not shown in account: See Exhibit "A"attached Principal -Personalty $25,674.00 Income -Personalty 5,633.36 Total additional credits $31,307.36 Balance for distribution Principal Income Total 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:This is not a distribution account,therefore, the balance for distribution as shown in the Additional Receipts and Disbursements to the First and Partial Account,Exhibit "A", is to be awarded back to the The Union National Bank of Pittsburgh,Surviving Trustee,for further administration and accounting. Set forth accountants suggestion as to manner and form 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:The entire balance for distribution as set forth in Exhibit "A"is to be decreed back to -3- The Union National Bank of Pittsburgh,as Surviving Trustee,for further administration and accounting. COUNTY OF ALLEGHENY SS COMMONWEALTH OF P~NNSYLVANIA, The above named Fiduciary or representative thereof, being duly sworn,doth deposes and says that the facts set forth in the foregoing petition are true to the best of his knowledge and belief. Sworn to and subscribed before me this 10th day of And your petitioners will ever pray,etc. THE UNION NATIONAL BANK OF PITTSBURGH By~;t~t-- DONALD L.DAWSON Vice President July,1987 Signature of Title of Officer__~~~~~~~~~~~~~ .KARENG.GItA S.,JoUiYPUBlICOfficeexpites~~p:~·~~c~~U~.~~H~..BB·'~auu"••~e~NuIN~n~.__~~~ MY G,i.<,j:.1tSSION EXItIRES'tIav.19.1988 Member,Pennsylvania Auocilltion of Notaries -4- IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION NO.63-71-1082B LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED ADDITIONAL RECEIPTS AND DISBURSEMENTS TO THE FIRST AND PARTIAL ACCOUNT OF HOWARD S.GUTTMAN,(NOW DECEASED) AND THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE RESIDUARY TRUST B STATED FROM APRIL 1,1987 TO JULY 6,1987 SUMMARY OF ACCOUNT PRINCIPAL-PERSONALTY Receipts No Gain or Loss on Conversions Less Disbursements Balance before Distribution PAGES 5 5 Sub-Total 5 $506,993.11/ 0.00 $506,993.11./' 674.00 v $506,319.11,/' Less Distributions for Beneficiary Investments Capital Changes Principal Balance Remaining INCOME-PERSONALTY Receipts Less Disbursements Balance before Distributions Less Distributions for Beneficiary Income Balance Remaining COMBINED BALANCE REMAINING Exhibit 6 6 6-7 7-8 8 8 "A" $ $ 25,000.00./ /8,006.50 529.26/ ,/7,477.24 /5,104.10 $481,319.11v'" ./2,373.14 $483,692.25 V LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED COMPOSITION OF NET BALANCES PRINCIPAL -PERSONALTY Stocks 500 shares Atlantic Richfield Company, Cornman 1,500 shares H.J.Heinz Company, Cornman 500 shares International Business Machines Corporation,Capital 900 shares Johnson and Johnson,Cornman 1,000 shares Raytheon Company,Cornman 600 shares Sears,Roebuck and Company, Cornman Bonds $25,000 Pennsylvania 5.85%dated 8/15/69 due 1/15/89 $40,000 Pennsylvania 6.75%dated 8/15/75 due 2/15/89 $30,000 Pennsylvania 7%dated 6/1/83 due 12/1/87 $35,000 Pennsylvania,State Public School Building Authority Lease Revenue,Mid Valley School District AMBAC Insured 5.60%dated 6/1/87 due 9/1/90 $35,000 Philadelphia,Pennsylvania, Gas Works Revenue BIGI Insured 6.50% dated 9/1/86 due 7/1/94 $25,000 Western Wayne,Pennsylvania, School District MBIA Insured 7% dated 12/1/85 due 9/15/92 -2- Account Value $28,745.00 21,737.14 32,678.73 27,252.18 44,602.50 23,463.12 .24,631.25 39,016.00 30,000.00 35,000.00 35,000.00 25,000.00 LEO DONALD GUTTMAN A/K/A LEO'D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY (continued) Notes $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #4) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #5) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #6) $13,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #7) $12,000 Demand Note of Maury S.Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #8) $50,000 Demand Note of Maury S.Guttman dated 8/3/83 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman (non-interest bearing) -3- Account Value $13,000.00 13,000.00 13,000.00 13,000.00 12,000.00 50,000.00 LEO DONALD GUTTMAN A/KIA LE8 D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY (continued) Temporary Investment $100 Federated Trust for Short-Term United States Government Securities Fund (Treat as cash) *Cash TOTAL PRINCIPAL INCOME -PERSONALTY *Cash COMBINED TOTALS *Note:All cash is invested in Federated Trust for Short-Term United States Government Securities Fund -4- Account Value $100.00 $481,225.92 93.19 $481,319.11 2,373.14 $483,692.25 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY RECEIPTS Principal balance per First and Partial Account filed $506,993.11 PRINCIPAL CONVERSIONS INTO CASH Gain Loss 5/15/87 $35,000 Pennsylvania 6.50%Bonds dated 11/15/75 due 5/15/87 Matured Carrying value $59,400 Federated Trust for Short-Term United States Government Securities Fund Redeemed 4/13/87- 7/6/87 Carrying value $35,000.00 35,000.00 $59,400.00 59,400.00 No Gain or Loss Transferred to Summary Page PRINCIPAL -PERSONALTY DISBURSEMENTS 4/2/87 Internal Revenue Service Payment of Federal Fiduciary Income Tax for the calendar year ending 12/31/86 $318.34 4/13/87 Pennsylvania Department of Revenue Payment of Pennsylvania Fiduciary Income Tax for the calendar year ending 12/31/86 . 4/15/87 Payment of Estimated Fiduciary Taxes for tax year ending 12/31/87 -5- $ 276.07 79.59 674.00"""" - ----------~------------- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS TO BENEFICIARY Distributions in accordance with Article Three of the will Maury S.Guttman Distribution for 1987 Cash 6/7/87 Delivered 6/11/87 Balance of $13,000 Demand Note of Maury S. Guttman dated 10/4/79 to Howard S.Guttman and The Union National Bank of Pittsburgh dated 11/1/67 securing loan to Maury S. Guttman in the amount of $103,000 (Note #3)(Paid in full) TOTAL PRINCIPAL DISTRIBUTIONS TOTAL PRINCIPAL DISBURSEMENTS PRINCIPAL INVESTMENTS $18,500.00 6,500.00 ./$25,000.00 $25,674.00 5/15/87 $35,000 Pennsylvania,State Public School Building Authority,Lease Revenue Mid Valley School District AMBAC Insured 5.60%Bond dated 6/1/87 due 9/1/90 at 100 $40,200 Federated Trust for Short-Term United States Government Securities Fund 4/2/87 -7/6/87 Cash disbursed to purchase the above assets PRINCIPAL CAPITAL CHANGES Pennsylvania 6.50%Bond dated 11/15/75 due 5/15/87 $35,000 Shown in First and Partial Account filed 5/15/87 35,000 Matured -6- $35,000.00 40,200.00 $75,200.00 75,200.00 $0.00 $35,000.00 35,000.00 -~~~---~~~------------------------------------, LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) Federated Trust for Short-Term United States Government Securities Fund $19,300 Shown in First and Partial Account filed 40,200 Purchased 4/2/87 -7/6/87 $59,500 59,400 Redeemed 4/13/87 -7/6/87 $100 INCOME -PERSONALTY RECEIPTS Income balance per First and Partial Account filed Adjustment to add funds representing net proceeds received from sale of 18 shares Black and Decker Manufacturing Company on 9/4/79 representing a 4%Stock Dividend received on 12/12/72 and deemed to be income (See page 15 of the First and Partial Account) ;4/20/87 Atlantic Richfield Company,Cornmon 500 shares 6/16/87 H.J.Heinz Company,Cornmon 1,500 shares 4/13/87 International Business Machines Corporation,Capital 500 shares 6/11/87 Johnson and Johnson,Cornmon 900 shares 6/12/87 Raytheon Company,Cornmon 1,000 shares 5/1/87 Sears,Roebuck and Company,Cornmon 600 shares 4/2/87 -7/2/87 Pennsylvania 6.50%Bonds $35,000 11/15/86 -5/15/87 (Matured) Pennsylvania 7%Bonds $30,000 12/1/86 -6/1/87 -7- $19,300.00 40,200.00 $59,500.00 59,400.00 $100.00 $717.61 447.75 $1,165.36/ 500.00 420.00 550.00 378.00 450.00 600.00 1,137.50 1,050.00 -------~~~~~~~~~~~~------------------- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED RECEIPTS (continued) Philadelphia,Pennsylvania,Gas Works Revenue BIGI Insured 6.50%Bonds $35,000 1/1/87 -7/1/87 Federated Trust for Short-Term United States Government Securities Fund 3/1/87 -6/30/87 TOTAL INCOME RECEIPTS INCOME -PERSONALTY DISBURSEMENTS $1,137.50 618.14 8,006.50"""'" 4/13/87 Pennsylvania Department of Revenue Payment of Pennsylvania Fiduciary Income Tax for the calendar year ending 12/31/86 ~/12/87 Payment of interest on purchase of $35,000 Pennsylvania,State Public School Building Authority,Lease Revenue Mid Valley School District AMBAC Insured 5.60%Bonds The Union National Bank of Pittsburgh Income fees for period 3/19/87 -7/6/87 INCOME DISTRIBUTIONS FOR BENEFICIARY Distributions in accordance with Article Three of the Will Howard S.Guttman,(now Deceased), and The Union National Bank of Pittsburgh,Surviving Trustee for Margaret L.Guttman Interest payments on $225,000 Promissory Note of Maury S. Guttman 9%dated 3/13/85 4/13/87 -6/13/87 $ $ 20.80 98.00 410.46 529.26./ 5,104.10 TOTAL INCOME DISBURSEMENTS -8- $5,633.36 I ..... ". •..1 I,I!I. ij ,., ii I I:i r.II•.Ir .- -',' \ WILL of LEO DONALD GUTTMAN .,.,. i !'J !j,: ~ 1III'II:i Ij 1'1,i I;t I,LEO DONALD GUTTMAN,of the City ot Charleroi, Washington County,Pennsylvania,declare this to be my last will and revoke any and all wills previously made by me. ARTICLE ONE.I give and bequeath all my clothing, jewelry,furniture,automobiles and other articles of personal or household use,equipment and ornament,together with any policies of insurance thereon,to my wife,MARGARET BISSELL GUTTMAN,if she shall survive me.If my said wife shall not survive me,I give and bequeath such property to my son,MAURY S.GUTTMAN,if he shall survive me. ARTICLE TWO.If my wife,MARGAREI'BISSELL GUTTMAN, shall survive me,I devise and bequeath to the trustees named in Article Six hereof,in trust,a fractional share of the residue of my estate determined as follows:The numerator of the said fraction shall equal the value of one-half (1/2)of'my adjusted gross estate as finally determined for federal estate tax purposes,reduced by any property or interests that qualify for the federal eatate tax marital deduction and that pass or shall have passed to my said wife otherwise than under this Article of my will;the denominator of said fraction shall equal the value of my residuary estate.Such fractional share shall be determined on the basis of the values finally determined for federal estate tax purposes,shall inclUde,to the extent possible,only assets that,under the Internal Revenue Code applicable to my estate, qualify for the said marital deduction,and upon which there is available no foreign death tax credit,and shall be undiminished by any estate,inheritance,or other death taxes. If my said wife and I shall die under such circumstances r.'i, '..'-----_......_------:---------------------...-;~. "I I'"\..r-i .. necessary to increase the aggregate distributions to my said -~wife,inclUding income distributions,to Twenty-five Thousand that it is impossible to determine which of us survived,it shall be conclusively presumed and this will shall be construed as if my said wif~had survived me. thereof shall be less than Twenty-five Thousand Dollars ($25,000.00)per year,the trustees shall distribute to my said wife such amounts from the principal of the trust as shall be The trustees shall hold,manage,invest and reinvest the trust property,shall collect the income thereof and shall distribute the net income in quarter-annual installments,or more frequently if the trustees deem it advisable,to or for the benefit of my said wife during her lifetime.If the income Dollars ($25,000.00)per year.In addition,the trustees in their discretion may distribute to or for the benefit of my said wife so much of the principal of the-property held in trust for h~r as they shall from time to time deem necessary or proper for emergencies involving her health,maintenance and support. ----~--~j fl iI, I it:!. -t--On the death of my said wife,the trustees shall distribute the principal of the trust property to such persons (including the estate of my said wife)and in such proportions as my said wife may by her last will appoint by specific reference to this power of appointment.In the event of her failure so to exercise this power,the remaining principal of the trust property shall be added to and become a part of the principal of the trust created under the terms of Article Three of this will to be continued in trust or distributed as provided therein. ,,..-2- !...- II! " 1:,-.: ,.! I~ j: -'Ii 1 ; t! Ii,-,:f::1;1q !~ 1 >1l-II, 1 --------------------------------. ARTICLE THREE.I devise and bequeath the balance of the residue of my estate,or all of the residue if my said wife shall not survive me,to the trustees named in Article Six hereof in trust for the following purposes:Until my son,MAURY S. GUTTMAN,shall reach the age of forty (40)years,the trustees shall distribute to my said son so much of the net income as shal not exceed the sum of Twenty-five Thousand Dollars ($25,ooo.00) per year.Any income in excess of Twenty-five Thousand Dollars ($25,OOO.00)per year shall be added to the principal of the property held in trust for him.The trustees shall also distribute to my said son so much of the principal of the- property held in trust for him as he shall certify to be necessar for the establishment or continuation of any business in which he I may wish to engage,but such distribution or distributions shall not exceed One Hundred Thousand Dollars ($IOO,OOO.OO)in the aggregate. When my said son shall reach the agf!of forty (hO) years,the trustees shall thcrcaftf!r diutribute all of the income from the property held in trust for him to my said son.The trustees shall also distribute to or for the benefit of my said son so much of the principal of such property as he shall certify to be necessary for any emergency or for his personal use,but such distribution shall not exceed in the aggregate the sum of Twenty-five Thousand Dollars ($25,000.00)in anyone calendar year. At any time during the continuation of the said trust, the trustees in their discretion may distribute to or for the benefit of my said son so much of the principal of the property held in trust for him as they shall from time to time deem -3- ~I .. /..,, I j I 1 1 .1 1.'I I,I I , I ], ~ r.rr .' ---_._------------------------------------ necessary or proper for his healt~,maintenance and support. On the death of my said son,the trustees shall distribute any property then held in trust for him to his issue then living,per stirpes,subject to the provisions of Article Four hereofj if he shall have no issue then living or,if at the time of the death of the survivor of my wife and me,I shall have no issue then living,the trustees shall distribute the trust property to the children then living of my brothers,JESSE B. GUTTMAN and HOWARD S.GUTTMAN,per capita,or the ~urvivor of such children. ARTICLE FOUR,If any beneficiary of my I~S tate is a minor,I devise and bequeath the share of my estate to which such minor would otherwise have been entitled to the trustees named' in Article Si~hereof in trust for such minor.The trustees shall distribute to the guardian of the person of such'minor or, in the trustees'discretion,shall apply directly so much of the net income,and if the net income is insufficient,so much of the principal of the share so held in trust for such minor,as the trustees may deem necessary or advisable for the comfortable support,education and welfare of such minor,The trustees shall accumulate any surplus net income and add the same to the principal of the trust.When such minor reaches the age of twenty-one (21)years,the trustees shall distribute to him the principal of such share and any accumulated income thereon, absolutely and free from all,trusts,'If any such minor shall die before reaching the age of twenty-one (21)years,the property held in trust for him,including any accumulation of income thereon,shall be distributed to such person or persons as are entitled to his estate. -4-1r I:i:1,:,------..L----------------------------------- , I) j 1II.iI1I I j j 1, ~I 1,1 ; ARTICLE FIVE.Except as.otherwise provid0d h0rcin, during the continuance of any of the trusts created under the provisions of this will,and thereafter until the property is distributed to and received by the beneficiaries hereunder,the principal sums thus held in trust for the beneficiaries, respectively,and the income thereof Shall not be sUbject to or liable for any contracts,debts,engagements,liabilities or torts of such beneficiaries,or any of them,now or hereafter made,contracted,incurred or committed,but shall be absolutely free from the same.and the said beneficiaries shall have no power to sell.assign or encumber all or any part of said principal sums or their interest therein,respectively,or the income thereof.or to anticipate the said income. ARTICLE SIX.I appoint my brother,HOWARD S.GUTTMAN, and THE UNION NATIONAL BANK OF PITTSBURGH,as executors and trustees of all trusts created by this will.In the event of the inability or refusal of my said brother to act or to continue as an executor or trustee,I direct that no successor shall be appointed.No executor or trustee acting hereunder shall be required to give bond or other security for the faithful performance of his or its duties. I authorize my executors and trustees and any successor or successors.in their sole discretion,to exercise the follOWing powers in addition to those given by law: !.. (a) (b) To accept,retain and invest in any r~al or personal properly,includin~stock of The Union National Bank of Pittsburr,h,w~thout rnstrlction to le~al investmcnto; To sell,exchanBe,partition or lease for any period of time any real or personal property and to give options therefor for cash or credit,with or without security; -5- i 1,.:'....Ji-......__..,....:-',~.-----_.........._ II·•'. (c) (d) (e) (f) (g) (h) To borrow money from any person including any fiduciary acting hereunder,and to mortgage or pledge any real or personal property; To compromise,arbitrate or abandon claims; To make distribution in cash or in kind or partly in each; To administer a separate trust for each beneficiary hereunder,but for convenient administration such separate trusts may be combined in one cornmon trust fund,each separate trust hEwing an undivided interest therein; To make such elections,decisions,conceusions and settlements in connection with all income, estate,inheritance,gift or other tax returns and the payment of such taxes,without obligation to adjust the distributive srulre of income or principal of any person thereby affected. To conduct any business in which I am engaged or in which I have an interest at the time of my death for such periods as are deemed advisable with power to borrow money and pledge the assets of the business and to do all other acts which I,in my lifetime,could have done or to delegate such powers to any partner,manager or employee without liability for any.loss occurring therein. ARTICLE SEVEN.All estate taxes,inheritance taxes, transfer taxes and other taxes of a similar nature payable by reason of my death to any government or subdivision thereof upon or with respect to any property subject to any such tax shall be paid by my executors out of the principal of that portion of my estate disposed of by Article Three,and all interest with respect to any such taxes shall be paid by my .executors out of the income or principal or partly out of the income and partly out of the principal of such portion of my estate,in the absolute discretion of my executors,without reimbursement from or apportionment amon~the beneficiaries,recipients or owners of such property for any such taxes or interest.Notwithstandinr, the foregoing directions,my executors may decline to pay all or -6- .. r •, •~. ;.,.'.l''tt."~'9'';:~.."...'. I 1 Signed,sealed,published and declared by the above named LEO DONALD GUTTMAN as and for his last will;in the presence of us and each of us,who,at his request and in his presence and in the presence of each other,have hereunto subscribed our names as witnesses thereof the day and year last above written. any part of the inheritance taxes .with respect to any rema~nder interest created under this will if,in their discretion,they determine such action to be for the best interests of my estate. IN WITNESS WHERE9F I have hereunto set my hand and _I-,v,!.i",tf'iI17fI~day of ge1eeer,1967.seal this 11, I I i 1I ·1 .J 1.J . .~ -'~G2¢~~/I.~.~t!..:=~==-residing at ;<1("A:"e.-e.·0" / .-.o;;fz....,--,~tf~...:.;1t'I;.J"C!=..:~~::;,..~..:.-reSiding at ~--";--=-~":'-_-=---=-~--i (. '. ,.... ,: ~: ".., 1 I··j::.1 11 -7- :1 ----...,--------------------------------------------~-------------------- PETITION SUR AUDIT IN THE ORPHANS'COURT OF WASHINGTON COUNTY FORM USED FOR GUARDIAN-INCOMPETENTS-OR TRUSTEES No.63-71-1082B ESTATE OF LEO DONALD GUTTMAN A/K/ LEO D.GUTTMAN,DECEASED FOR MAURY S.GUTTMAN Life tenant Counsel for the accountant shall submit herewith the following,if pertinent: 1.Will or Trust instrument attested. 2.xHxeHx~x~¥ 3.Sx~HeaXeXegXX~HSX~xxxxemsxx~xBexxRkeHxxH kXHSXXXXSXSXXXEHXX~HXRgg~HHX¥ 4.Sxx~HiRXX~HX~XXgeXXXXXgRXexB~xmXH~x R~~X~XXH~XRgg~HHX¥ 5.Praecipe for Appearance. 6.Zxxexxx~xxRH¥x~Hesxx~Hx~XXXRKxxRxseS¥ James W.Ummer,Esquire Buchanan Ingersoll,P.C. USX Tower,57th Floor 600 Grant Street Pittsburgh,PA 15219 Counsel for Accountant. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA " LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED ORPHANS'COURT DIVISION NO.63-71-1082A PETITION SUR AUDIT "CODETRUST--=U---N~DE=R~W---I=L""'L------- PRESENTED ON BEHALF HOWARD S.GUTMANN (NOW DECEASED) AND THE UNION NATIONAL BANK OF PITTSBURGH,SURVIVING TRUSTEE COUNSEL OF RECORD JAMES W.UMMER,ESQUIRE PA.LD.#16428 BUCHANAN INGERSOLL, PROFESSIONAL CORPORATION FIRM #038 USX TOWER 57TH FLOOR 600 GRANT STREET PITTSBURGH,PA 15219 (412)562-8800 PETITION SUR AUDIT IN THE ORPHANS'COURT OF WASHINGTON COUNTY Estate of Leo Donald Guttman a/k/a Filed at No.63-71-1082A Leo D.Guttman,Deceased Fiduciary The Union National For Margaret L.Guttman Bank of Pittsburgh,Surviving Life Tenant Trustee Place of record of appointment Register of Wills of Washington County, Pennsylvania Date of trust October 23,1971 If there have been former accounts filed in this estate,list: No.63-71-1082 (First and Final Account of Estate of Leo Donald Guttman,Deceased) Reason for filing this account Howard S.Guttman,Co-Trustee, died september 17,1986. All persons having any interest,vested or contingent (including claimants),in the fund now before the Court,with the nature of their interests are:Margaret L.Guttman (shown in Will as Margaret Bissell Guttman)surviving spouse and life tenant of the Martial Trust.Mrs.Guttman has a testamentary power of appointment over disposition of said trust,if she fails to exercise this power in favor of her estate or other persons,the trust is to be added to the residuary trust created under Article Three of the will for benefit Maury S.Guttman,son and succeeding life tenant. All of said parties have received notice as required by the Court Rules except as follows:NONE 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:NONE Balance for distribution per account,Principal $1,027,666.86 Additional debits not shown in account: See Exhibit "A"attached Principal -Personalty $0.00 Income $(2,139.46) Income -Personalty 22,679.97 Total additional debits ~$__~2~2~,~6~7~9~.~9~7 Additional credits not shown in account: See Exhibit "A"attached Principal -Personalty $11,036.97 Income -Personalty 20,252.57 Total additional credits -2- $31,289.54 Balance for distribution Principal $1,016,629.89 Income $287.94 Total $1,016,917.83 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:This is not a distribution account,therefore, the balance for distribution as shown in the Additional Receipts and Disbursements to the First and Partial Account,Exhibit "A", is to be awarded back to the The Union National Bank of Pittsburgh,Surviving Trustee,for further administration and accounting. Set forth accountants suggestion as to manner and form 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:The entire balance for distribution as set forth in Exhibit "A"is to be decreed back to -3- The Union National Bank of Pittsburgh,as Surviving Trustee,for further administration and accounting. COUNTY OF ALLEGHENY SS COMMONWEALTH OF PENNSYLVANIA, The above named Fiduciary or representative thereof, being duly sworn,doth deposes and says that the facts set forth in the foregoing petition are true to the best of his knowledge and belief. Sworn to and subscribed before me this 10th day of, ;:-~- July,1987 Signature of And your petitioners will ever pray,etc. THE UNION NATIONAL BANK OF PITTSBURGH BY_~~~"'?;:',~t~~~::;....,-h_----_ DONALD L.DAWSON Vice President ',;,"KAREN G.GR ES;J10TARY PUBlIC";;~Office expir~es 'PlusstIBGtt~.n'lMt1l!COlIfln'> MY GO'Mt.iSSION EXPIRES NOY.19.1988 Marr./Ill!.Pennsylvania Associltion of Notaries -4- IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION No.63-71-1082A LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED ADDITIONAL RECEIPTS AND DISBURSEMENTS' TO THE FIRST AND PARTIAL ACCOUNT OF HOWARD S.GUTTMAN,(NOW DECEASED) AND THE UNION NATIONAL BANK OF PITTSBURGH SURVIVING TRUSTEE MARITAL TRUST A STATED FROM APRIL 1,1987 TO JULY 6,1987 SUMMARY OF ACCOUNT PRINCIPAL-PERSONALTY PAGES Receipts 4 No Gain or Loss on Conversions 4-5 Sub-Total Less Disbursements 5 Balance before Distributions Less Distributions for Beneficiary 5-6 $1,027,666.86'/ 0.00 $1,027,666.86 /1,882.75 $1,025,784.11 ./ .J9,154.22 Less Disbursements 9 Investments Capital Changes Principal Balance Remaining INCOME-PERSONALTY Receipts 6 6-7 8-9 $.J20,540.51 1,287.97/ "j $1 ,016 ,629 .8.9 Balance before Distributions $ Less Distributions for Beneficiary 9-10 19,252.54 18,964.60 J Income Balance Remaining 287.94/! COMBINED BALANCE REMAINING $1,016,917.83/ Exhibit "A" LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED COMPOSITION OF NET BALANCES PRINCIPAL -PERSONALTY Stocks 1,000 shares Atlantic Richfield Company, Common 1,000 shares Emerson Electric Company, Common 2,500 shares General Re Corporation, Common 2,000 shares H.J.Heinz Company,Common 800 shares International Business Machines Corporation,Capital 1,300 shares Johnson and Johnson, Common 1,000 shares Sears,Roebuck and Company, Common Bonds $10,000 Armstrong County,Pennsylvania School District MBIA Insured 6.75% dated 6/1/85 due 7/1/89 $50,000 Butler,Pennsylvania Area Sewer Revenue AMBAC Insured 5.90% dated 5/1/86 due 7/1/92 $75,000 Chartiers Valley,Pennsylvania School District MBIA Insured 5.90% dated 4/1/86 due 10/1/91 $60,000 Fort LeBoeuf,Pennsylvania School District MBIA Insured 6.20% dated 6/15/87 due 7/1/93 "$30,000 Pennsylvania 5.85%dated 8/15/69 due 1/15/89 $40,000 Pennsylvania 9.10%dated 3/1/80 due 9/1/88 $30,000 South Park,Pennsylvania School District 7.75%dated 10/1/83 due 1/1/89 -2- Account Value $45,017.25 39,413.34 25,277.63 26,154.17 45,612.41 48,140.36 35,374.64 10,000.00 50,000.00 75,000.00 60,000.00 29,557.50 . 40,000.00 30,000.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY (continued) Bonds (continued) $30,000 United States of America Treasury Bills dated 7/2/87 due 12/31/87 $85,000 United States of America Treasury Bills dated 2/19/87 due 8/20/87 Notes $30,000 Demand Note of Margaret L. Guttman dated 1/6/76 (Non-interest Bearing)Unpaid Balance $45,000 Demand Note of Margaret L. Guttman dated 2/20/79 (Non-interest Bearing)Unpaid Balance $225,000 Promissory Note of Maury S. Guttman 9%dated 3/13/85 Temporary Investment $ Account Value 29,090.10. 83,704.60' 18,500.00 36,500.00 225,000.00 $62,000 Federated Trust for Short- Term United States Government Securities Fund (Treat as cash) Cash TOTAL PRINCIPAL INCOME -PERSONALTY Cash COMBINED TOTALS -3- 62,000.00 $1,014,342.00 2,287.89 $1,016,629.89 287.94 $1,016,917.83 : LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED .PRINCIPAL -PERSONALTY RECEIPTS Principal balance per Partial Account filed $1,027,666.86. PRINCIPAL CONVERSIONS INTO CASH Gain Loss 250.00 ·250.00 500.00 11,000.00 18,500.00 $30,000.00 30,000.00 $ Shown in the First and Partial Account Balance on hand Shown in the First and Partial Account $30,000 Demand Note of Maragret L.Guttman dated 1/6/76 (Non-interest Bearing) Principal payment for 3/10/87 not shown in the First and ,Partial Account $ Principal payment 6/10/87 $45,000 Demand Note of Margaret L.Guttman dated 2/20/79 (Non-interest Bearing) Principal payment for 3/10/87 not shown in the First and Partial Account $250.00 Principal payment 6/10/87 250.00 $.500.00 Shown in the First and Partial Account Balance on hand Shown in the First and Partial Account 8,000.00 36,500.00 $45,000.00 45,000.00 5/15/87 $60,000 Pennsylvania Bonds 6.50%dated 11/15/75 due 5/15/87 Matured at Carrying value $60,000.00 60,000.00 -4- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued) Gain Loss 7/1/87 $30,000 Pennsylvania Bonds 5.20%dated 1/1/72 due 7/1/87 Matured at Carrying value $145,000 United States of America Treasury Bills dated and due at various dates Matured at 4/2/87- 7/2/87 Carrying value $96,700 Federated Trust for Short-Term United States Government Securities Fund Redeemed 4/6/87- 7/6/87 Carrying value $30,000.00 30,000.00 $142,535.35 142,535.35 $96,700.00 96,700.00 No Gain or Loss Transferred to Summary Page PRINCIPAL -PERSONALTY DISBURSEMENTS 4/2/87 Internal Revenue Service Payment of Federal Fiduciary Income Tax for the calendar year 1986 4/13/87 Pennsylvania Department of Revenue Payment of Pennsylvania Fiduciary Income Tax for the calendar year 1986 PRINCIPAL DISTRIBUTION FOR BENEFICIARY Distributions in accordance with ARTICLE TWO.of the Will Dorothea Hyk Payment for nursing services rendered Margaret L.Guttman 4/15/87 -6/9/87 4/21/87 -6/9/87 -5- $6,804.00 $ $ 1,371.19 511.56 1,882.75./ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE TWO.of the Will (continued) 6/11/87 Maury S.Guttman Reimbursement for various charges made on behalf of Margaret L. Guttman per statement received TOTAL PRINCIPAL DISTRIBUTIONS TOTAL PRINCIPAL DISBURSEMENTS PRINCIPAL INVESTMENTS $2,350.22 $ $ ./9,154.22 11,036.97 6/24/87 $60,000 Fort LeBoeuf,Pennsylvania School District MBTA Insured 6.20% dated 6/15/87 due 7/1/93 at 100 $145,000 United States of America Treasury Bills dated and due at various dates 4/2/87 $30,000 dated 1/2/87 due 7/2/87 at 98.554 $29,566.20 5/21/87 85,000 dated 2/17/87 due 8/20/87 at 98.476 83,704.60 7/2/87 30,000 dated 7/2/87 due 12/31/87 at 96.967 29,090.10 $145,000 $60,000.00 142,360.90 $114,600 Federated Trust for Short- Term United States Government Securities Fund 4/1/87 -7/3/87 Cash disbursed to purchase the above assets PRINCIPAL CAPITAL CHANGES 114,600.00 $316,960.90 316,960.90 $0.00 7/1/87 Pennsylvania Bonds 5.20%dated 1/1/72 due 7/1/87 $30,000 Shown in First and Partial Account filed 30,000 Matured -6- $30,000.00 30,000.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) Pennsylvania Bonds 6.50%dated 11/15/75 due 5/15/87 $60,000 Shown in First and Partial Account filed 5/15/87 60,000 Matured $60,000.00 60,000.00' United States of America Treasury Bills dated and due at various dates $115,000 Shown in First and Partial Account filed 145,000 Purchased 4/2/87 -7/2/87 $260,000 145,000 Matured 4/2/87 -7/2/87 $115,000 $112,969.15 142,360.90 $255,330.05 142,535.35 $112,794.70 $30,000 Demand Note of Margaret L. Guttman dated 1/6/76 (Non-interest Bearing) $19,000 Shown in First and Partial Account 250 Principal payment 3/10/87 not shown in the First and Partial Account $18,750 6/10/87 250 Principal payment $18,500 $45,000 Demand Note of Margaret L. Guttman dated 2/20/79 (Non-interest Bearing) $37,000 Shown in First and Partial Account filed 250 Principal payment 3/10/87 not shown in the First and Partial Account $36,750 6/10/87 250 Principal payment $36,500 $ $ $ $ $ $ 19,000.00 250.00 18,750.00 250.00 18,500.00 37,000.00 250.00 36,750.00 250.00 36,500.00 Federated Trust for Short-Term United States Government Securities Fund $44,100 Shown in First and Partial Account 114,600 Purchased 4/1/87 -7/3/87 $158,700 96,700 Redeemed 4/6/87 -7/6/87 $62,000 -7- $44,100.00 114,600.00 $158,700.00 96,700.00 $62,000.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED INCOME -PERSONALTY RECEIPTS Income balance per Partial Account filed Atlantic Richfield Company,Common 1,000 shares 6/16/87 Emerson Electric Company,Common 1,000 shares 6/11/87 International Business Machines Corporation,Capital 800 shares 6/11/87 General Re Corporation,Common 2,500 shares 4/1/87 -7/1/87 H.J.Heinz Company,Common 2,000 shares 4/13/87 Johnson and Johnson,Common 1,300 shares 6/12/87 Sears,Roebuck and Company,Common 1,000 shares 4/2/87 -7/2/87 Armstrong County,Pennsylvania School District MBIA Insured Bonds 6.75% $10,000 1/1/87 -7/1/87 Butler,Pennsylvania Area Sewer Revenue AMBAC Insured Bonds 5.90% $5,000 1/1/87 -7/1/87 Chartiers Valley,Pennsylvania School District MBIA Insured Bonds 5.90% $75,000 10/1/86 -4/1/87 Pennsylvania Bonds 6.50% $60,000 11/15/86 -5/15/87 Pennsylvania Bonds 5.20% $30,000 1/1/87 -7/1/87 South Park,Pennsylvania School District Bonds 7.75% $30,000 1/1/87 -7/1/87 $(2,139.46) 1,000.00 720.00 880.00 1,250.00 560.00 546.00 1,000.00 337.50 1,475.00 2,212.50 1,950.00 780.00 1,162.50 United States of America Treasury Bills Accumulation on: $30,000 to 4/2/87 85,000 to 5/21/87 30,000 to 7/2/87 -8- $814.50 1,216.35 433.80 2,464.65 --------------------------------, LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED RECEIPTS (continued) $225,000 Promissory Note of Maury S. Guttman 9%dated 3/13/85 4/13/87 -6/13/87 Federated Trust for Short-Term United States Government Securities Fund 3/1/87 -6/30/87 TOTAL INCOME RECEIPTS INCOME -PERSONALTY DISBURSEMENTS 4/13/87 Pennsylvania Department of Revenue Payment of Pennsylvania Fiduciary Income Tax for the calendar year 1986 6/10/87 1987 Washington County Personal Property Tax 6/10/87 1987 County of Allegheny Personal Property Tax Accrued interest on purchase of $60,000 6/15/87 -6/24/87 on Fort Le Boeuf, Pennsylvania School District MBIA Insured Bonds 6.20% INCOME DISTRIBUTIONS FOR BENEFICIARY Distributions in accordance with ARTICLE TWO.of the will $ $ $ $ 5,104.10 1,237.72 j20,540.51 93.45 550.76 550.76 93.00 /1,287.97 The Union National Bank of Pittsburgh Payment on Demand Note of Margaret L.Guttman: dated 2/20/79 $45,000 6/10/87 dated 1/6/76 $30,OQO 6/10/87 $250.00 250.00 -9- $500.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED INCOME DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE TWO.of the Will (continued) Dorothea Hyk Payment for nursing services rendered Margaret L.Guttman 4/1/87 -4/14/87 $2,268.00 5/20/87 -6/2/87 2,268.00 6/10/87 -6/30/87 3,402.00 $/7,938.00 Maury S.Guttman Payment account income representing partial payment of annual exclusion per instructions in file 4/6/87 and 7/6/87 $5,000.00 /10,526.60/5,526.60 Reimbursement for various bills paid on behalf of Margaret L.Guttman per statements in file 4/15/87 $1,985.61 7/6/87 3,540.99 TOTAL INCOME DISTRIBUTIONS TOTAL INCOME DISBURSEMENTS $ $ /18,964.60 20,252.57 -10- /' ! .'I tt,r.. II .... \ WILL of LEO DONALD GUTTMAN ,', !.1!: IIi'I!,i /'II11. i I'o . ,i I- I I j. I r.; , " I'',' I,LEO DONALD GUTTMAN,of the City or.Charleroi, Washington County,Pennsylvania,declare this to be my last will and revoke any and all wills previously made by me. ARTICLE ONE.I give and bequeath all my clothing, jewelry,furniture,automobiles and other articles of personal or household use,equipment and ornament,together with any policies of insurance thereon,to my wife,MARGARET BISSELL GUTTMAN,if she shall survive me.If my said wife shall not survive me,I give and bequeath such property to my son,MAURY S.GUTTMAN,if he shall survive me. ARTICLE TWO.If my wife,MARGARET BISSELL GUTTMAN, shall survive me,I devise and bequeath to the trustees named in Article Six hereof,in trust,a tractional share of the residue of my estate determined as follows:The numerator of the said fraction shall equal the value of one-half (1/2)of my adjusted gross estate as finally determined for federal estate tax purposes,reduced by any property or interests that qualify for the federal estate tax marital deduction and that pass or shall have passed to my said wife otherwise than under this Article of my Will;the denominator of said fraction shall equal the value of my residuary estate.Such fractional share shall be determine on the basis of the values finally determined for federal estate tax purposes,shall inclUde,to the extent possible,only assets that.under the Internal Revenue Code applicable to my estate, qualify for the snid marital deduction,and upon which there is available no foreign death tax credit,and shall be undiminished by any estate,inheritance,or other death taxes. If my said wife and I shall die under such circumstances ;.'-------Jl----------....J..- , "\. '----- H I:' i :1 " II I It 'I i I, 11 1 :j ~J. I'j II j I that it is impossible to determine which of us survived,it shall be conclusively presumed and this will shall be construed as if my said wife had survived me. The trustees shall hold,manage,invest and reinvest the trust property,shall collect the income thereof,and shall distribute the net income in quarter-annual installments,or more frequently if the trustees deem it advisable,to or for the benefit of my said wife during her lifetime.If the income thereof shall be less than Twenty-five Thousand Dollars ($25,000.00)per year,the trustees shall distribut.e to my said wife such amounts from the principal of the trust as shall be necessary to increase the aggregate distributions to my said /wife,inclUding income distributions,to Twenty-five Thousand Dollars ($25,000.00)per year.In addition,the trustees in their discretion may distribute to or for the benefit of my said wife so much of the principal of the,property held in trust for h~r as they shall from time to time deem necessary or proper for emergencies involving her health,maintenance and support. On the death of my said wife,the trustees shall t.. i, d~stribute the principal of the trust property to such persons (including the estate of my said wife)and in such proportions as my said wife may by her last will appoint by specific reference to this power of appointment.In the event of her failure so to e~ercise this power,the remaining principal of the trust property shall be added to and become a part of the principal of the trust created under the terms of Article Three of this will to be continued in trust or distributed as provided therein. -2- I- II, II- i: I i J,.I;I: -~ j :j J..I 1 I-j~i :j --------------------------------,1 ARTICLE THREE.I devise and bequeath the balance of the residue of my estate,or all of the residue if my said wife shall not survive me,to the trustees named in Article Six hereof in trust for the following purposes:Until my son,MAURY S. GUTTMAN,shall reach the age of forty (40)years,the trustees shall distribute to my said son so much of the net income as shal not exceed the sum of Twenty-five Thousand Dollars ($25,000.00) per year.Any income in excess of Twenty-five Thousand Dollars ($2?,000.00)per year shall be added to the/principal of the property held in trust for him.The trustees shall also distribute to my said son so much ~f the principal of the property held in trust for him as he shall certify to be necessa for the establishment or continuation of any business in which he may wish to engage,but such distribution or distributions shall not exceed One Hundred Thousand Dollars ($100,000.00)in the aggregate. When my said son shall reach the age of forty (JW) years,the trustees shall thereafter dictribut~all of thr.incomr. from the property held in trust for him to my said son.The trustees shall also distribute to or for the benefit of my said son so much of the principal of such property as he shall certify to be necessary for any emergency or for his personal use,but such distribution shall not exceed in the aggregate the sum of Twenty-five Thousand Dollars ($25,000.OO)1n anyone calendar year. At any time during the continuation of the said trust, the trustees in their discretion may diotribute to or for the benefit of my said son so much of the principal of the property held in trust for him as they shall from time to time deem -3- :0 I I11 II.I I. '1 I ·1 I .j 1 r II.. necessary or proper for his healtQ,maintenance and support. On the death of my said son,the trustees shall distribute any property then held in trust for him to his issue then living,per stirpes,sUbject to the provisions of Article Four hereof;if he shall have no issue then living or,if at the time of the death of the survivor of my wife and me,I shall have no issue then living,the trustees shall distribut~the trust property to the children then living of my brothers,JESSE B. GUTTMAN and HOWARD S.GUTTMAN,per capita,or the flurvivor of such children. ARTICLE FOUR.If any beneficiary of mY'~state is a minor,I devise and bequeath the share of my estate to which such minor would otherwise have been entitled to the trustees named·. in Article Six hereof in trust for such minor.The trustees shall distribute to the guardian of the person of such minor or, in the trustees'discretion,shall apply directly so much of the net income,and if the net income is insufficient,so much of the principal of the share so held in trust for such minor,as the trustees may deem necessary or advisable for the comfortable support,education and welfare of such minor.The trustees shall accumulate any surplus net income and add the same to the principal of the trust.When such minor reaches the age of twenty-one (21)years,the trustees shall distribute to him the principal of such share and any accumulated income thereon, absolutely and free from all,trusts.If any such minor shall die before reaching the age of twenty-one (21)y~ars,the property held in trust for him,including any accumulation of income thereon,shall be distributed to such person or persons as are entitled to his estate. -4-. J I I.i;··------..JL.---------------------.------------..... i1, i iI1 I j il~1 1 j I j ARTICLE FIVE.Except as.otherwise provid~d hC'l'c1n, during the continuance of any of the trusts created under the provisions of this will,and thereafter until the property is distributed to and received by the beneficiaries hereunder,the principal SUMS thus held in trust for the beneficiaries, respectively,and the income thereof shall not be subject to or liable for any contracts,debts,engagements,liabilities or torts of such beneficiaries,or any of them,now or hereafter made,contracted,incurred or committed,but shall be absolutely free from the same,and the said beneficiaries shall have no power to sell,assign or encumber all or any part of said principal sums or their interest therein,respectiv~ly,or the income thereof,or to anticipate the said income. ARTICLE SIX.I appoint my brother,HOWARD S.GUTTMAN, and THE UNION NATIONAL BANK OF PITTSBURGH,as executors and trustees of all trusts creatcd by this will.In the event of the inability or refusal of my said brother to act or to continue as an executor or trustee,I direct that no successor shall be appointed.No executor or trustee acting hereunder shall be required to give bond or other security for the faithful performance of his or its duties. I authorize my executors and trustees and any successor or successors,ln their sole discretion,to exercise the following powers In addition to those given by law: (a)To accept,retain and invest in any r~al or personal properly,includin~stock of The Union Nationnl Bank of Pittsburr,h,w~thout r~striction to lcCa1 investmentc; (b)To sell,exchanBc,partition or lease for any period of time any real or personal property and to give options therefor for cash or credit,with or without security; -5- I( ·., ·.·,. i i ij ·: tI i.~! ·)· I 4.1 !~;i ij i j ! ..... ~:I· (c)To borrow money from any person including any fiduciary acting hereunder,and to mortgage or pledge any real or personal property; (d)To compromise,arbitrate or abandon claims; (e)To make distribution in cash or in kind or partly in each; (f)To administer a separate trust for each beneficiary hereunder,but for convenient administr~tion such separate trusts may be combined in one common trust fund,each separate trust having an undivided interest therein; (g)To make such elections,decisions,conceusions and settlements in connection with all illcome, estate,inheritance,gift or other tax rl!turns and the payment of such taxes,without obligation to adjust the distributive srulre of income or principal of any person thereby affected. (h)To conduct any business in which I am en~aged or in which I have an interest at the time of my death for such periods as are deemed advisable with power to borrow money and pledge the assets of the business and to do all other acts which I,in my lifetime,could have done or to delegate such powers to any partner,manager or employee without liability for any loss occurring therein. ARTICLE SEVEN.All estate taxes,inheritance taxes, transfer taxes and other taxes of a similar nature payable by reason of my death to any government or subdivision thereof upon or with respect to any property subject to any such tax shall be paid by my executors out of the principal of that portion of my estate disposed of by Article Three,and all interest with respect to any such taxes shall be paid by my .executors out of the income or principal or partly out of the income and partly out of the principal of such portion of my estate,in the absolute discretion of my executors,without reimbursement from or apportionment amonp;the beneficiaries,recipients or owners of such property for any such taxes or Intereot.Notwithstandin~ the foregoing directions,my executors may decline to pay all or -6- ,.....' .",. •,. any part of the inheritance taxes .with respect to any remainder interest created under this will if,in their discretion,they determine such action to be for the best interests of ~estate. I ii I 'j I 'J11 ..: i:, seal this IN WITNESS WHEREQF I have hereunto set Illy hand and _,J-,fl.".iilt,.-t(Ie day ot Qeheel,1967. "j :,.1 ----.-~--~o;------------..&._ J :1 j '1 r. I ;'" .. :1 i Signed,sealed,published and declared by the above named LEO DONALD GUTTMAN as and for his last will,in the presence of us and each of us,who,at his request and in his presence and 1n the presence of each other,have hereunto subscr1bed our names as w1tnesses thereof the day and year last above written, -7- :. Ij Ij J )-.!,i ~ PETITION SUR AUDIT IN THE ORPHANS'COURT OF WASHINGTON COUNTY FORM USED FOR GUARDIAN-INCOMPETENTS-OR TRUSTEES No.63-71-1082A ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED FOR MARGARET L.GUTTMAN Life tenant Counsel for the accountant shall submit herewith the following,if pertinent: 1.will or Trust instrument attested. 2.xHxeHx~x~¥ 3.SX~HeSXe%egXX~HKX~xxxxemsxx~xsexxakeHxxH kXHS~XXXSXKXXXSHXX~HXagg~HHX¥ 4.SXX~H%aXX~HX~XXgexxxxxgaxexs~xmXH~x R~~X~XXH~XRgg~HHX¥ 5.Praecipe for Appearance. 6.Bxxexxx~xxaH~x~HeKxx~HX~XX%aKXXaXKes¥ James W.Ummer,Esquire Buchanan Ingersoll,P.C. USX Tower,57th Floor 600 Grant Street Pittsburgh,PA 15219 Counsel for Accountant. IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA " LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN, DECEASED ..' C) Ll f'- 1.1] 1'- lJ) """"-o lU 0:::' ORPHANS'COURT DIVISION NO.63-71-1082A FIRST AND PARTIAL ACCOUNT "CODE----------TRUST UNDER WILL FILED ON BEHALF OF HOWARD S.GUTTMAN (NOW DECEASED) AND THE UNION NATIONAL BANK OF PITTSBURGH, SURVIVING TRUSTEE COUNSEL OF RECORD JAMES W.UMMER, ESQUIRE PA.1.D.#16428 BUCHANAN INGERSOLL PROFESSIONAL CORPORATION FIRM #038 U.S.STEEL BUILDING 57TH FLOOR 600 GRANT STREET PITTSBURGH,PA 15219 (412)562-8800 VIashington County,55, I do certify that I have given legal notic'e to all personS; concerned of the filing ofthe within account in the mannerpre~ scribed by Statue and Rule of Court,as evidenced by proofs. thereof filed to No.6 ~-l!7 -()'31 Witness my hand and official seal this...~.....aay Of,~~19..~.7.... .4~~.~ FIRST AND PARTIAL ACCOUNT For the "Marital Trust"Established under the Will of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased Stated by Howard S.Guttman (now deceased)and THE UNION NATIONAL BANK OF PITTSBURGH,Surviving Trustee Marital Trust A (Howard S.Guttman,Co-Trustee died on September 17,1986) Leo Donald Guttman Died October 23,1971 Date of Trustees,first receipt of funds February 13,1975 Account Stated for the Period February 13,1975 to April 21,1987 Purpose of Account:The Trustee offers this account to acquaint interested parties with the transactions that have occurred during their administration of the trust. It is important that the account be carefully examined.Requests for additional information or questions or objections can be discussed with: DONALD L.DAWSON, Vice President THE UNION NATIONAL BANK OF PITTSBURGH P.O.Box 837 Pittsburgh,Pennsylvania 15230 (412)644-8134 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED 4-5 5-10 Sub-Total $1,273,753.41 t/ 52,632.96 ./ $1,326,386.37 48,817.19 / $1,277,569.18 / 249,902.32 11 Pages SUMMARY OF ACCOUNT PRINCIPAL -PERSONALTY Receipts Net Gain on Conversions Less Disbursements Balance before Distributions Less Distributions for Beneficiary 11-13 $1,027,666.86 22 $4,118.97 / 23 2,856.43 / $1,262.54 J233,402.00 (2,139.46 t/$1,025,527.40COMBINEDBALANCEREMAINING Receipts Less Disbursements Balance before Distributions Less Distributions for Beneficiary Income Balance Remaining Investments 13-16 Capital Changes 17-22 Principal Balance Remaining INCOME -PERSONALTY LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED COMPOSITION OF NET BALANCES PRINCIPAL -PERSONALTY Stocks 1,000 shares Atlantic Richfield Company, Common 1,000 shares Emerson Electric Company, Common 2,500 shares General Re Corporation, Common 2,000 shares H.J.Heinz Company,Common 800 shares International Business Machines Corporation,Capital 1,300 shares Johnson and Johnson,Common 1,000 shares Sears,Roebuck and Company, Common Bonds $10,000 Armstrong County,Pennsylvania School District MBIA Insured 6.75% dated 6/1/85 due 7/1/89 $50,000 Butler,Pennsylvania Area Sewer Revenue AMBAC Insured 5.90%dated 5/1/86 due 7/1/92 $75,000 Chartiers Valley,Pennsylvania School District MBIA Insured 5.90% dated 4/1/86 due 10/1/91 $30,000 Pennsylvania 5.85%dated 8/15/69 due 1/15/89 $30,000 Pennsylvania 5.20%dated 1/1/72 due 7/1/87 $60,000 Pennsylvania 6.50%dated 11/15/75 due 5/15/87 $40,000 Pennsylvania 9.10%dated 3/1/80 due 9/1/88 $30,000 South Park,Pennsylvania School District 7.75%dated 10/1/83 due 1/1/89 -2- Account Value $45,017.25 39,413.34 25,277.63 26,154.17 45,612.41 48,140.36 35,374.64 10,000.00 50,000.00 75,000.00 29,557.50 30,000.00 60,000.00 40,000.00 30,000.00 -------------~~_.....~~~~~~~~~~---....:::::::::~ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY (continued) Bonds (continued) $30,000 United States of America Treasury Bills dated 10/2/86 due 4/2/87 $85,000 United States of America Treasury Bills dated 11/20/86 due 5/21/87 Notes $30,000 Demand Note of Margaret L. Guttman dated 1/6/76 (non-interest beacing)Unpaid Balance $45,000 Demand Note of Margaret L. Guttman dated 2/20/79 (non-interest bearing)Unpaid Balance $225,000 Promissory Note of Maury S. Guttman 9%dated 3/13/85 Temporary Investment $ Account Value 29,185.50 83,783.65 19,000.00 37,000.00 225,000.00 $44,100 Federated Trust for Short- Term United States Government Securities Fund (Treat as Cash) Cash Total Principal INCOME -PERSONALTY Less Amount due Accountant for Administrative Expenses COMBINED TOTALS -3- 44,100.00 $1,027,616.45 50.41 $1,027,666.86 (2,139.46; 1h.Q25,527.40 2/20/75 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY RECEIPTS Prior Award Howard S.Guttman and The Union National Bank of Pittsburgh,Executors of the Estate of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased Awarded by Adjudication and Decree of Distribution dated 1/22/75 at No.63-71-1082 in the Court of Common Pleas of Washington County, Pennsylvania Marital Trust A 62.2862% Stocks 187 shares American Telephone and Telegraph Company,Common 311 shares Cleveland Electric Illuminating Company,Common 425 shares Texaco, Incorporated,Common Bonds $60,000 United States of America Treasury Bills dated 9/12/74 due 3/13/75 $30,000 Upper Darby Township, Pennsylvania 5.10%dated 4/15/74 due 4/15/83 Notes $567,399 4%Promissory Note of Guttman Oil Company dated 2/1/72 due 2/1/87 $545,487 4%Promissory Note of Guttman Realty Company dated 2/1/72 due 2/1/87 $107,162 4%Promissory Note of Guttman Supply Company dated 2/1/72 due 2/1/87 -4- $9,428.22 9,895.81 12,245.18 57,276.00 30,000.00 466,400.00 320,018.72 97,160.22 2/20/75 ---~~--------------------------------------~ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED RECEIPTS (continued) Prior Award (continued) Howard S.Guttman and The Union National Bank of Pittsburgh,Executors of the Estate of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased (continued) Awarded by Adjudication and Decree of Distribution dated 1/22/75 at No.63-71-1082 in the Court of Common Pleas of Washington County, Pennsylvania (continued) Marital Trust A 62.2862%(continued) Notes (continued) $169,036 4%Promissory Note of Mercer Realty Company dated 2/1/72 due 2/1/87 $6,000 4%Promissory Note of Mon-Valley Terminal, Incorporated,dated 2/1/72 due 2/1/87 $177,985 4%Promissory Note of Thrif-T Oil Company dated 2/1/72 due 2/1/87 Cash TOTAL PRINCIPAL RECEIPTS PRINCIPAL CONVERSIONS INTO CASH $162,274.55 4,160.00 104,417.00 477.71 Gain $1,273,753.41 Loss 2/1/75 3/15/75 $6,000 4%Promissory Note of Man-Valley Terminal,Incorporated, dated 2/1/72 due 2/1/87 Decreed at Principal payment $60,000 United States of America Treasury Bills dated 9/12/74 due 3/15/75 Decreed at Matured at $4,160.00 4,160.00 $57,276.00 57,276.00 -5- ~._--~--~- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued)Gain Loss $177,985 4%Promissory Note of Thrif-T Oil Company dated 2/1/72 due 2/1/87 Decreed at $104,417.00 Principal payments 2/1/75 -9/2/75 104,417.00 $352,000 General Motors Acceptance Corporation Demand Notes Redeemed 3/19/75 - 9/5/78 $352,000.00 Carrying value 352,000.00 12/20/78 46 shares Kraft, Incorporated, Common Net proceeds $2,023.93 Carrying value 1,785.11 $238.82 L/ I 4/23/80 454 shares Kraft, Incorporated, Common Net proceeds $19,820.97 /Carrying value 17,618.26 2,202.71 $107,162 4%Promissory Note of Guttman Supply Company dated 2/1/72 due 2/1/87 Decreed at $97,160.22 Principal payments 2/1/75 -2/3/81 97,160.22 5/29/81 160 shares Carnation Company,Common Net proceeds $5,014.23 /'Carrying value 4,573.97 440.26 9/21/81 475 shares Carnation Company,Common Carrying value $13,565.99 838.79'VNetproceeds12,727.20 $ 1/11/82 201 shares Cleveland Electric Illuminating Company,Common Carrying value $4,552.76 / Net proceeds 3,113.38 1,439.38 -6- -------------~ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued)Gain Loss 10/28/82 58 shares Atlantic Richfield Company, Common Carrying value $2,670.03 Net proceeds 2,553.36 $116.67 t- 12/6/82 699 shares Cleveland Electric Illuminating Company,Common Carrying value $15,173.39 ;/Net proceeds 12,959.02 2,214.37 12/7/82 120 shares General Re Corporation,Common Net proceeds $7,096.56 /Carrying value 5,140.80 $1,955.76 $567,399 4%Promissory Note of Guttman Oil Company dated 2/1/72 due 2/1/87 Decreed at $466,400.00 Principal payments 2/1/75 -1/27/83 466,400.00 4/15/83 $30,000 Upper Darby Township,Pennsylvania Bond 5.10%dated 4/15/74 due 4/15/83 Matured at $30,000.00 Decreed at 30,000.00 10/21/83 .500 share H.J. Heinz Company, Common Proceeds $16.66 j Carrying value 0.00 16.66 10/26/83 600 shares Dow Chemical Company, Common Carrying value $23,764.25 ,/ Net proceeds 21,188.28 2,575.97 10/26/83 600 shares American Telephone and Telegraph Company,Common /Net proceeds $36,325.79 Carrying value 29,968.80 6,356.99 -7- LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued)Gain Loss 2/7/84 2/7/84 6/18/84 3/5/85 3/5/85 3/5/85 100 shares International Business Machines Corporation,Capital Net proceeds Carrying value 180 shares General Re Corporation,Common Net proceeds Carrying value $20,000 Middletown Township,Pennsylvania Guaranteed Water Revenue Bond 7.75%dated 6/1/75 due 6/1/2012 (PR 6/1/86) Carrying value Proceeds $5,700 The Union National Bank of Pittsburgh Money Fund Withdrawn 8/8/84 - 10/9/84 Carrying value 7/19/84 - 9/20/84 1,000 shares Harris Corporation,Common Carrying value Net proceeds $169,036 4%Promissory Note of Mercer Realty Company dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/76 -2/1/86 220 shares H.J. Heinz Company, Common Net proceeds Carrying value 425 shares Texaco, Incorporated,Common Net proceeds Carrying value $10,889.13 7,053.50 $ $9,891.46 6,530.16 $20,000.00 19,750.00 $5,700.00 5,700.00 $35,841.98 30,923.96 $162,274.55 162,274.55 $10,455.15 5,880.74 $15,150.74 12,245.18 -8- 3,835.63 ?/ /3,361.30 $ ./4,574.41 2,905.56 250.00 4,918.02 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued)Gain Loss 3/5/85 200 shares General Re Corporation,Cornmon Net proceeds $14,979.50 /'Carrying value 4,306.00 $10,673.50 3/5/85 100 shares International Business Machines Corporation,Capital Net proceeds $13,489.55 / Carrying value 7,053.50 6,436.05 6/3/85 $10,000 Middletown Township,Pennsylvania Guaranteed Water Revenue Bond 7.75%dated 6/1/75 due 6/1/2012 (PR 6/1/85 at 100) Proceeds (called)$10,000.00 Carrying value 10,000.00 8/1/85 $20,000 Pennsylvania Bond 5.25%dated 8/1/73 due 2/1/88 Carrying value $20,246.80 Proceeds 19,069.80 $1,177.00 12/19/85 $10,000 Pennsylvania Highway Bond 5.75% dated 8/15/69 due 1/15/86 Carrying value $10,039.00 0/: Proceeds 9,900.00 139.00 1/15/86 $40,000 Pennsylvania Highway Bond 5.75% dated 8/15/99 due 1/15/86 /Carrying value $40,156.00 Matured at 40,000.00 156.00 2/18/86 $30,000 Pennsylvania Highway Bond 6.40% dated 8/15/75 due 2/15/86 /Carrying value $30,222.90 Matured at 30,000.00 222.90 9/19/86 500 shares General Re Corporation,Cornmon Net proceeds $28,949.03 vCarryingvalue5,265.62 23,683.41 -9- ------------------------------------------ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CONVERSIONS INTO CASH (continued)Gain Loss $545,487 4%Promissory Note of Guttman Realty Company dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -2/4/87 $320,018.72 320,018.72 $30,000 Demand Note of Margaret L.Guttman dated 1/6/76 (non- interest bearing) Principal payments 3/10/76 - 12/10/86 $11,000.00 Balance on hand 19,000.00 $30,000.00 c- $8,000.00 37,000.00 $45,000 Demand Note of Margaret L.Guttman dated 2/20/79 (non- interest bearing) Principal payments 3/12/79 - 12/10/79 Balance on hand 45,000.00 $1,015,400 Federated Automated Government Money Trust Redeemed 3/23/79 - 12/9/86 Carrying value $1,015,400.00 1,015,400.00 14,048.10 52,632.96 t/ ,/ 66,681.06 $ 14,048.10 $ $ $119,500.00 119,500.00 TOTAL GAINS AND LOSSES LESS LOSS NET GAIN $119,500 Federated Trust for Short-Term United States Government Securities Fund Redeemed 12/10/86 - 4/21/87 Carrying value -10- -------------------------------" LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL -PERSONALTY DISBURSEMENTS Pennsylvania Department of Revenue Pennsylvania Fiduciary Income Tax for the calendar years ending 12/31: 1978 $5.25 1980 48.46 1983 (balance paid from Income)92.63 1984 (balance paid from Income)172.73 1985 (balance paid from Income)462.28 $781.35 Internal Revenue Service Federal Fiduciary Income Tax calendar years ending 12/31: 1980 1983 1984 1985 for the $81.35 35.99 294.52 1,009.87 I/" 1,421.73 4/21/87 Clerk of Orphans'Court of Washington County,Pennsylvania Cost of filing this account 1,324.00 4/21/87 Buchanan Ingersoll Professional Corporation Attorneys'fee 7,500.00 ,/ 37,790.11 48,817.19 /$ The Union National Bank of Pittsburgh Deferred principal compensation for the years 1976 and 1977 $6,100.00 Annual principal compensation taken 8/23/76 -2/2/87 30,990.11 Balance due 2/3/87 -4/20/87 700.00 PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY Distributions in accordance with ARTICLE TWO.of the Will Howard S.Guttman Reimbursement for payment of nursing care services provided Margaret L.Guttman 2/21/85 $1,944.00 Maury S.Guttman Reimbursement for various medical and miscellaneous expenses and taxes paid on behalf of Margaret L.Guttman per statements received: 5/1/86 $23,402.32 6/11/86 3,998.16 -11- ------~-------------------------------. LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE TWO.of the Will (continued) Maury S.Guttman (continued) Reimbursement for various medical and miscellaneous expenses and taxes paid on behalf of Margaret L.Guttman per statements received: (continued) 8/4/86 $4,136.33 8/13/86 2,620.00 10/15/86 7,977.85 12/9/86 3,252.79 1/21/87 4,749.42 Dorothea Hyk Payment for nursing services rendered Margaret L.Guttman 8/16/85 -3/3/87 Margaret L.Guttman (shown in Will as Margaret Bissell Guttman) Nursing services of Dorothea Hyk 6/28/85 -8/15/85 $2,042.00 Discretionary principal payments 4/15/76 -11/30/80 21,000.00 Repairs to residence property 6/8/81 -7/24/84 15,654.95 Repairs to Florida condominium 10/13/82 2,000.00 Mortgage payment on Florida condomimium 12/16/82 20,000.00 Dental expenses 1/26/82 3,100.00 Medical and dental expenses, repairs to residence property and repairs to Florida condominium 2/16/84 20,000.00 -12- $ ..,-50,136.87 14,024.50 -------------------------------------~ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL DISTRIBUTIONS FOR BENEFICIARY (continued) Distributions in accordance with ARTICLE TWO.of the Will (continued) Margaret L.Guttman (shown in Will as Margaret Bissell Guttman) (continued) Payments made for taxes 9/14/76 -9/5/85 $100,000.00 $ TOTAL PRINCIPAL DISTRIBUTIONS TOTAL PRINCIPAL DISBURSEMENTS PRINCIPAL INVESTMENTS 3/12/75 3/12/75 3/12/75 3/12/75 3/21/75 3/19/75 9/25/75 9/25/75 9/25/75 9/25/75 9/30/75 200 shares Sears,Roebuck and Company, Common at 65 3/8 50 shares International Business Machines Corporation,Capital at 215 1/8 500 shares Kraftco Corporation,Common at 38 1/4 233 shares American Telephone and Telegraph Company,Common 133 at 51 1/8 and 100'at 51 1/4 209 shares Dow Chemical Company,Common at 73 1/8 $50,000 Pennsylvania Highway Bonds 5.75% dated 8/15/69 due 1/15/86 at 100.39 180 shares American Telephone and Telegraph Company,Common 100 at 46 1/8 and 80 at 46 1/4 . 50 ,shares International Business Machines Corporation,Capital at 191 5/8 91 shares Dow Chemical Company,Common at 90 1/2 200 shares Sears,Roebuck and Company, Common 100 at 61 5/8 and 100 at 61 3/4 488 shares Emerson Electric Company, Common 288 at 34 3/8 and 200 at 34 1/4 -13- $13,236.46 10,836.98 19,403.37 12,124.78 15,463.91 50,195.00 8,415.80\' ) 9,647.43 8,300.34 12,468.18 16,940.32 1/7)OJ~,.)-7 ~ LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL INVESTMENTS (continued) 9/25/75 1/6/76 2/24/76 3/8/77 3/8/77 3/11/77 3/8/77 5/4/78 5/9/78 5/12/78 3/16/79 3/19/79 2/20/79 3/10/80 3/13/80 $30,000 Pennsylvania Highway Bonds 6.40% dated 8/15/75 due 2/15/86 at 100.743 $30,000 Demand Note of Margaret L. Guttman dated 1/6/76 (non-interest bearing) 72 shares Emerson Electric Company, Common at 38 3/8 289 shares Cleveland Electric Illuminating Company,Common at 33 5/8 50 shares International Business Machines Corporation,Capital at 281 220 shares Johnson and Johnson Company, Common 200 at 70 3/4 and 20 at 70 7/8 $20,000 Pennsylvania Bonds 5.25%dated 8/1/73 due 2/1/88 at 101.234 $352,000 General Motors Acceptance Corporation,Demand Notes at 100 2/18/75 -2/28/78 100 shares General Reinsurance Corporation,Common at 168 1/2 $30,000 Pennsylvania Bonds 5.20%dated 1/1/72 due 7/1/87 at 100 635 shares Carnation Company,Common 600 at 28 1/4 and 35 at 28 3/8 $30,000 Pennsylvania Bonds 5.85%dated 8/15/69 due 1/15/89 at 98.525 24 shares General Reinsurance Corporation,Common at 174 $45,000 Demand Note of Margaret L. Guttman dated 2/20/79 (non-interest bearing) 100 shares Atlantic Richfield Company, Common at 91 1/2 $30,000 Middletown Township,Pennsylvania Guaranteed Water Revenue Bond 7.75%dated 6/1/75 due 6/1/2012 (PR 6/1/86 at 100)at 100 -14- $-30,222.90 30,000.00 2,800.02 9,830.34 14,107.00 15,704.16 20,246.80 352,000.00 16,850.00 30,000.00 18,139.96 29,557.50 4,176.00 45,000.00 9,207.00 30,000.00 /j 7..,<it 0//.i <i LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL INVESTMENTS (continued) 3/14/80 191 shares General Reinsurance Corporation,Common at 78 3/4 4/23/80 129 shares Atlantic Richfield Company, Common at 89 3/4 9/21/81 314 shares Harris Corporation,Common at 40 3/2/82 440 shares Emerson Electric Company, Common 400 at 44 1/4 and 40 at 44 3/8 3/2/82 340 shares Johnson and Johnson,Common at 37 3/4 3/2/82 122 shares General Re Corporation, Common at 85 3/2/82 400 shares International Business Machines Corporation,Capital at 62 1/4 3/3/82 400 shares Harris Corporation,Common at 28 1/2 3/5/82 $40,000 Pennsylvania Bond 9.10%dated 3/1/80 due 3/1/88 at 100 3/5/82 111 shares Harris Corporation,Common at 28 1/2 2/16/83 175 shares Harris Corporation,Common at 47 1/2 2/16/83 805 shares H.J.Heinz Company,Common at 387/8 4/15/83 $60,000 Pennsylvania Bond 6.50%dated 11/15/75 due 5/15/87 at 100 10/26/83 600 shares Atlantic Richfield Company, Common at 44 3/8 10/27/83 13 shares H.J.Heinz Company,Co~non at 35 1/4 10/28/83 $30,000 South Park,Pennsylvania School District Bond 7.75%dated 10/1/83 due 1/1/89 at 100 $5,700 The Union National Bank of Pittsburgh Money Fund 7/19/84 -9/20/84 -15- $15,041.25 11,651.28 12,695.02 19,673.00 12,981.20 10,452.96 25,128.00 11,540.00 40,000.00 3,203.46 8,403.50 31,568.08 60,000.00 26,829.00 466.83 30,000.00 5,700.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL INVESTMENTS (continued) 3/13/85 6/5/85 4/17/86 4/17/86 4/4/86 4/24/86 10/2/86 2/19/87 $225,000 Promissory Note of Maury S. Guttman 9%dated 3/13/85 $10,000 Armstrong County,Pennsylvania School District MBIA Insured Bond 6.75% dated 6/1/85 due 7/1/89 at 100 300 shares Johnson and Johnson,Common at 64.75 200 shares Sears,Roebuck and Company, Common at 48.25 $75,000 Chartiers Valley,Pennsylvania School District MBIA Insured Bonds 5.90%dated 4/1/86 due 10/1/91 at 100 $50,000 Butler,Pennsylvania Area Sewer Revenue AMBAC Insured Bond 5.90%dated 5/1/86 due 7/1/92 at 100 $115,000 United States of America Treasury Bills dated and due at various dates $30,000 due 4/2/87 at 97.285 $29,185.50 85,000 due 5/21/87 ~~__~at 99.569 83,783.65 $115,000 $1,015,400 Federated Automated Government Money Trust 2/14/79 -11/28/86 $163,600 Federated Trust for Short-Term United States Government Securities Fund 12/9/86 -3/3/87 $225,000.00 10,000.00 19,455.00 9,670.00 75,000.00 50,000.00 112,969.15 1,015,400.00 163 ,600 .00 ;tJ {j 4?~~¢'7.?..J $2,841,301.98 Cash disbursed to purchase the above assets 2,841,301.98 -16- 0.00 2/20/75 3/12/75 9/25/75 10/26/83 3/10/80 4/23/80 7/10/80 10/28/82 10/26/83 5/12/78 5/29/81 9/21/81 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES American Telephone and Telegraph Company, Common 187 shares Decreed at 233 shares Purchased 420 shares 180 shares Purchased 600 shares 600 shares Sold Atlantic Richfield Company,Common 100 shares Purchased 129 shares Purchased 229 shares 229 shares Received in a 2 for 1 Stock Split as holder of record on 5/9/80 458 shares 58 shares Sold 400 shares 600 shares Purchased 1,000 shares Carnation Company,Common 635 shares Purchased 160 shares Sold 475 shares 475 shares Sold $9,428.22 12,124.78 $21,553.00 8,415.80 $29,968.80 29,968.80 $9,207.00 11,651.28 $20,858.28 0.00 $20,858.28 2,670.03 $18,188.25 26,829.00 $45,017.25 $18,139.96 4,573.97 $13,565.99 13,565.99 Cleveland Electric Illuminating Company, Common 2/20/75 311 shares Decreed at $9,895.81 3/8/77 289 shares Purchased 9,830.34 600 shares $19,726.15 1/13/78 300 shares Received in a 3 for 2 Stock Split as holder of record on 12/16/77 0.00 900 shares $19,726.15 1/11/82 201 shares Sold 4,552.76 699 shares $15,173.39 12/6/82 699 shares Sold 15,173.39 Dow Chemical Company,Common 3/21/75 209 shares Purchased $15,463.91 9/25/75 ~shares Purchased 8,300.34 300 shares $23,764.25 6/18/76 300 shares Received in a 2 for 1 Stock Split as holder of record on 5/5/76 0.00 600 shares $23,764.25 10/26/83 600 shares Sold 23,764.25 -17- ~~-~--~---------------------------, LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) 9/30/75 2/24/76 3/2/82 5/4/78 3/19/79 6/26/79 3/14/80 7/22/80 3/2/82 6/10/82 12/7/82 2/7/84 3/5/85 6/17/86 9/19/86 9/21/81 3/3/82 3/5/82 2/16/83 3/5/85 Emerson Electric Company,Common 488 shares Purchased 72 shares Purchased---'-=560 shares 440 shares Purchased 1,000 shares General Re Corporation (formerly General Reinsurance Corporation),Common 100 shares Purchased 24 shares Purchased--=~124 shares 124 shares Received in a 2 for 1 Stock Split as holder of record on 5/19/79 248 shares 191 shares Purchased 439 shares 439 shares Received in a 2 for 1 Stock Split as holder of record on 6/12/80 878 shares 122 shares Purchased 1,000 shares 1,000 shares Received in a 2 for 1 Stock Split as holder of record on 5/25/82 2,000 shares 120 shares Sold 1,880 shares 180 shares Sold 1,700 shares 200 shares Sold 1,500 shares 1,500 shares Received in a 2 for 1 Stock Split as holder of record on 6/6/86 3,000 shares 500 shares Sold 2,500 shares Harris Corporation,Common 314 shares Purchased 400 shares Purchased 714 shares III shares Purchased 825 shares 175 shares Purchased 1,000 shares 1,000 shares Sold -18- $16,940.32 2,800.02 $19,740.34 19,673.00 $39,413.34 $16,850.00 4,176.00 $21,026.00 0.00 $21,026.00 15,041.25 $36,067.25 0.00 $36,067.25 10,452.96 $46,520.21 0.00 $46,520.21 5,140.80 $41,379.41 6,530.16 - $34,849.25 4,306.00 $30,543.25 0.00 $30,543.25 5,265.62 $25,277.63 $12,695.02 11,540.00 $24,235.02 3,203.46 $27,438.48 8,403.50 $35,841.98 35,841.98 1,207.500 shares 10/21/83 .500 share Sold 1,207.000 shares 10/27/83 13.000 shares Purchased 1,220.000 shares 3/5/85 220.000 shares Sold 1,000.000 shares 10/17/85 1,000.000 shares Received in a 2 for 1 Stock Split as holder of record on 9/23/85 2/16/83 10/12/83 3/12/75 9/25/75 3/8/77 7/19/79 3/2/82 2/7/84 3/5/85 3/11/77 5/22/81 3/2/82 4/17/86 3/12/75 12/20/78 4/23/80 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) H.J.Heinz Company,Common 805.000 shares Purchased 402.500 shares Received in a 3 for 2 Stock Split as holder of record on 9/23/83 2,000.000 shares International Business Machines Corporation,Capital 50 shares Purchased 50 shares Purchased-~~100 shares 50 shares Purchased---=,;;. 150 shares 450 shares Received in a 4 for 1 Stock Split as holder of record on 5/10/79 600 shares 400 shares Purchased 1,000 shares 100 shares Sold 900 shares 100 shares Sold 800 shares Johnson and Johnson,Common 220 shares Purchased 440 shares Received in a 3 for 1 Stock Split as holder of record on 4/21/81 660 shares 340 shares Purchased 1,000 shares 300 shares Purchased 1,300 shares Kraft,Incorporated (formerly Dart and Kraft,Incorporated,Kraft,Incorporated, Kraftco Corporation),Common 500 shares Purchased 46 shares Sold 454 shares 454 shares Sold -19- $31,568.08 0.00 $31,568.08 0.00 $31,568.08 466.83 $32,034.91 5,880.74 $26,154.17 0.00 $26,154.17 $10,836.98 9,647.43 $20,484.41 14,107.00 $34,591.41 0.00 $34,591.41 25,128.00 $59,719.41 7,053.50 $52,665.91 7,053.50 $45,612.41 $15,704.16 0.00 $15,704.16 12,981.20 $28,685.36 19,455.00 $48,140.36 $19,403.37 1,785.11 $17,618.26 17,618.26 -20- 3/12/75 9/25/75 7/20/77 4/17/86 2/20/75 3/5/85 3/13/80 6/18/84 6/3/85 3/8/77 8/1/85 3/19/75 12/19/85 1/15/86 9/25/75 2/18/86 2/20/75 4/15/83 2/20/75 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) Sears,Roebuck and Company,Common 200 shares Purchased 200 shares Purchased 400 shares 400 shares Received in a 2 for 1 Stock Split as holder of record on 5/27/77 800 shares 200 shares Purchased 1,000 shares Texaco,Incorporated,Common 425 shares Decreed at 425 shares Sold Middletown Township,Pennsylvania Guaranteed Water Revenue Bond 7.75% dated 6/1/75 due 6/1/2012 (PR 6/1/86 at 100) $30,000 Purchased 20,000 Sold $10,000 10,000 Called Pennsylvania Bonds 5.25%dated 8/1/73 due 2/1/88 $20,000 Purchased 20,000 Sold Pennsylvania Highway Bonds 5.75%dated 8/15/69 due 1/15/86 $50,000 Purchased 10,000 Sold $40,000 40,000 Matured Pennsylvania Highway Bonds 6.40%dated 8/15/75 due 2/15/86 $30,000 Purchased 30,000 Matured Upper Darby Township,Pennsylvania 5.10% dated 4/15/74 due 4/15/83 $30,000 Decreed at 30,000 Matured United States of America Treasury Bills dated and due at various dates $60,000 Decreed at 115,000 Purchased 10/2/86 -2/19/87 $175,000 60,000 Matured 3/15/75 $115,000 $13,236.46 12,468.18 $25,704.64 0.00 $25,704.64 9,670.00 $35,374.64 $.12,245.18 12,245.18 $30,000.00 20,000.00 $10,000.00 10,000.00 $20,246.80 20,246.80 $50,195.00 10,039.00 $40,156.00 40,156.00 $30,222.90 30,222.90 $30,000.00 30,000.00 $57,276.00 112,969.15 $170,245.15 57,276.00 $112,969.15 2/20/75 2/20/75 2/20/75 2/20/75 2/20/75 2/20/75 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) General Motors Acceptance Corporation Demand Notes $352,000 Purchased 2/18/75 -2/28/78 352,000 Redeemed 3/19/75 -9/5/78 $567,399 4%Promissory Note of Guttman Oil Company dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -1/27/83 $545,487 4%Promissory Note of Guttman Realty Company dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -2/4/87 $107,162 4%Promissory Note of Guttman Supply Company dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -2/3/81 $169,036 4%Promissory Note of Mercer Realty Company dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/76 -2/1/86 $6,000 4%Promissory Note of Mon-Valley Terminal,Incorporated dated 2/1/72 due 2/1/87 Decreed at Principal payment 2/1/75 $177,985 4%Promissory Note of Thrif-T Oil Company dated 2/1/72 due 2/1/87 Decreed at Principal payments 2/1/75 -9/2/75 $30,000 Demand Note of Margaret L. Guttman dated 1/6/76 (non-interest bearing) Purchased 1/6/76 Principal payments 3/10/76 -12/10/86 $45,000 Demand Note of Margaret L. Guttman dated 2/20/79 (non-interest bearing) Purchased 2/20/79 Principal payments 3/12/79 -12/10/79 -21- $352,000.00 352,000.00 $466,400.00 466,400.00 $320,018.72 320,018.72 $97,160.22 97,160.22 $162,274.55 162,274.55 $4,160.00 4,160.00 $104,417.00 104,417.00 $30,000.00 11,000.00 $19,000.00 $45,000.00 8,000.00 $37,000.00 LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED PRINCIPAL CAPITAL CHANGES (continued) The Union National Bank of Pittsburgh Money Fund $5,700 Deposited 5,700 Withdrawn 8/8/84 -10/9/84 Federated Automated Government Money Trust (formerly Federated Trust for Short-Term United States Government Securities) $1,015,400 Purchased 2/14/79 -11/28/86 1,015,400 Redeemed 3/23/79 -12/9/86 Federated Trust for Short-Term United States Government Securities Fund $163,600 Purchased 12/9/86 -3/3/87 119,500 Redeemed 12/10/86 -4/21/87 $44,100 INCOME -PERSONALTY $9,917.79 being amount awarded by Adjudication and Decree of Distribution dated January 22,1975 at No.63-71-1082 and all Income received and Disbursements made from May 2,1972 to March 10,1987 (date of last Quarterly Statement)have been accounted for by statements rendered Maury S.,Guttman and Margaret L. Guttman RECEIPTS $5,700.00 5,700.00 $1,015,400.00 1,015,400.00 $163,600.00 119,500.00 $44,100.00 Balance in accordance with last Quarterly Statement Atlantic Richfield Company,Common 1,000 shares 3/17/87 Emerson Electric Company,Common 1,000 shares 3/11/87 International Business Machines Corporation,Capital 800 shares 3/11/87 Johnson and Johnson,Common 1,300 shares 3/13/87 $225,000 Promissory Note of Maury S. Guttman 9%dated 3/13/85 2/14/87 -3/13/87 TOTAL INCOME RECEIPTS -22- ------------------------------- $ $ (489.47) 1,000.00 720.00 880.00 455.00 1,553.44 4,118.97 v .......- -....."'. LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED INCOME -PERSONALTY DISBURSEMENTS The Union National Bank of Pittsburgh Income fee for the periods: 3/10/78 -6/10/82 $2,291.83 2/3/87 -3/31/87 564.60 INCOME DISTRIBUTIONS FOR BENEFICIARY Distributions in accordance with ARTICLE TWO.of the Will $2,856.43,- Dorothea Hyk Payment for nursing services rendered Margaret L.Guttman 3/11/87 -3/17/87 3/18/87 -3/24/87 3/25/87 -3/31/87 TOTAL INCOME DISTRIBUTIONS TOTAL INCOME DISBURSEMENTS -23- $1,134.00 1,134.00 1,134.00 $ 3,402.00 6,258.43 ---------- OF PITTSBURGH,Surviving Trustee under the Will of LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,Deceased,hereby delcares under oath that said Trustee has fUlly and faithfully discharged the duties of his office;that the foregoing First and Partial Account is true and correct,and fUlly discloses all significant transactions occurring during the accounting period;that all known claims against the trust have been paid in full;that,to his knowledge, there are no claims now outstanding against the Trust Estate;and that all taxes presently due from the trust have been paid. VICE PRESIDENT Subscribed and sworn to by DONALD L.DAWSON b~ me this /9/L day of ~,1987 fk~y~ T"ERESA KUBICAR,NOTARYPUBLIC" PITISBURGH,ALLEGHENY COUNTY . .MY COMMISSION EXPIRES PEC.11.1989,Me,,,~or,Pennsylvania ASSOciatio'lfBWJ~S T FOR DISTR IBUTI ON ',1" 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 ~Y~JJY- Vice President .t¥W •._f'F _W·-, " •----_._------------------------------.---- J IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANI~ ORPHANS'COURT DIVISION IN RE:) ) ESTATE OF ) )No.63-71-1082 LEO DONALD GUTTMAN,a/k/a ) ) LEO D.GUTTMAN,) ) Deceased. HEARING ON AUDIT BEFORE: APPEARANCES: TIME: THE COURT: Guttman. MR.KNOX: THE HONORABLE PAUL A.SIMMONS,Judge"ot the said Court. ROBERT F.PATTON,ESQ.,of Pittsburgh, Pa.,representing the Accountants. Tuesday,December 10,1974. The next estate is the estate of Leo DOIald Your Honor,I am Charles G.Knox.I am from the firm of Buchanan,Ingersoll,Rodewald,Kyle and Buerger.Mr.Patton was unable to attend today.I have the necessary papers that have been signed by the co- executors.All the taxes have been paid].All claims have been ~settled.The estate is all ready to go. .' THE COURT: MR.ZERMANI: (Court Crier)..,."'THE COURT:" ., .,.., Would you announce this estate,please? Your Honor,I received no response. Is anybody'in the .--:Courtroom interested " i n the estate of Leo Donald Guttman? (NO RESPONSE ) 2 THE COURT:Hearing no response,the audit of this estate IS ordered closed. (AUDIT CLOSED ) . i.I !lereby,.cer~tify that the proceedings and evidence are I ''.''"'.'I '".''~'"..'-.contained funy an"d 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. The foregoing record of the proceedings upon the hearing of the above cause is hereby approved and directed to be filed. By the Court, PETITION SUR AUDIT IN THE ORPHANS'COURT OF WASHINGTON COUNTY --.---~---------'.{ "T.,~w Form Ji Estate of ~~..P.~~M:P...g~.~.!;!~/A . ..................~.Q l?.!<;,W.~. Deceased No §?::~~.::~.9~~. Fiduciary..RQJ1.aJ'.d.;S.•...Qut.t.mau..atlQ..'r.he..UniQn. .~~~~.9.~..~..~f..~~~:t~~gh-.1 ..~~.qRl;..9.:r.~.... ~~~~~~ Decedent's death ~~~~~~!:'..~?1..!~71 Grant of Letters 9g:t?~:t:>.~~...?~.L.1.~.7.1 . This is the fj..:r..$.t...~Q..Ein~account filed in this estate If there have been:former accounts filed in this estate,list file number or number and term ~<?1?:~. Election to take ~~ Under~will.(cross out one):£iIDI:x:~. -.'Election has not been filed.However,it is attached hereto and marked'Exhibit Name of surviving spouse ~ggr~t..J?;i.~~.el..l.Qut.tman '"A". List issue,where material:' Not Applicable . Did decedent marry after execution of will?(indicate)XJfBx No.Any children born after execution of will?(indicate) :3CI!x:.No.If answer yes,n'ame them.~. .----_-___--_-__- -_---.. Leg,atees Relationship Interest Fiduciary,if deceased or not sui juris Margaret Bissell Guttman Surviving :Spouse Bequest (Household Goods delivered) Surviving Spouse Marital Trust Howard S.Guttman and The Union National Bank of Pittsburgh, Trustees under the 'Will for Margaret Bissell Guttman Howard is.Guttman and The Union National Bank of Pittsburgh, Trustees under the 'Will for Maury S.Guttman Sori Residual Trust List,if exceptions to above:(Adeemed:)Revoked:Lapsed:Abated:Give Cause: Adeemed:At the time of decedent's death,there was no jewelry,automobile nor automobiles mentioned in Article One of Will,bequeathed to surviving spouse.Therefore,thi~ portion of Article One of said Will is adeemed. If partial intestacy,give facts: None Notice to interested parties.Have all parties,having either vested or contingent interests and all crediors entitled to notice (Court Rule No.9 paragraph C:Section 6:Subdivision c)reGeived written notice of the filing of the account and of call ofaudit?Yes.Jbmx:''. If any exception give cause:N9...§~Q§p.~iQ~L ..~~~c~~:eo~t:~~I~ng .Jjzl~~i.:.. Is estate subject to the filing of ,a Federal Estate Tax Return?.!~?.l ~~..j:;E-~~.~.E.~.~1?.~.~J?:..:p.~~~. Actual payment made on Pe'nnsylvania Transfer Inheritance Tax.Amount $...1.?5..,.9.1J.~.7.9.. If the Will makes any portion of estate subject to a life-estate,give name and birth date of life tenant.s . .~~~~~..~~~~~~~..~~~~.~..~~::.~.J::~~~.~~.~!~~!~.?..-=..~~..~.~..~~~~~.!..~.:.~.~~~~~..~!~.?(?~. Give Names and addresses of all unpaid creditors who are legally entitled to notice,together with the amounts of such claims;state whether they are admitted to be correct;and whether the claim is denied. None -;......\....... Give reference to such parts of the will as require interpretation by the Court;a reference to all questions re-.I quiring adjudication,and a statement of any other facts deemed necessary for the preparation of the adjudication: "There was no jewelry,automobile nor automobiles as mentioned in Article One of "Will. Balance for distribution per account, Itemize any additional debits not shown See Schedule "B"Attached Principal -Personalty Income -Personalty by account: 0.00 930.97.: $g.2g5.J.~;n.Q.~l5.. 513.79 ~ Total additional debits (Add) Itemize any additional credits not shown by account: See Schedule "B".Attached .'Principal -Personalty Income -Personalty Total additional credits (Subtract) Balance for -distribution $.""."".~30.97__~A__.. 600.72$. --.$"2~253~7b1.00 .........--_-. .......... If balance for distribution is not in cash,list each item held in kind,giving appraised Value (or distribution Value); :See ,Sumary of :Schedule "B"Attached ,"-:'" o' J' \.. i J \....," IN THE COURT OF COMMON·PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE:ESTATE OF ) ) LEO DONALD GUTTMAN A/K/A ) I )NO.63 -71 -1082 LEO D.GUTTMAN ) ) DECEASED ) ELECTION TO TAKE UNDER THE WILL KNOW ALL MEN BY THESE PRESENTS,that,I,MlUl:GARET BISSELL GUTTMAN, surviving spouse of 165 Arlington Avenue,Charleroi,Pennsylvania,15022, widow of LEO DONALD GUTTMAN;who died October 23,1971,leaving a Will dated, Noven;ber 1,1967,and recorded in Will Book Volume 112,page 540,do hereby elect to take under the Will of LEO DONALD GUTTMAN,Deceased,and I will accept the estate and interest therein bequeathed to me., IN WITNESS WHEREOF,'f have hereunto set my hand and seal this ~"';'J.day of ~'luJ . ,1974. WITNESS: STATE OF FLORIDA COUNTY OF ~ ) SS: On this the ~md.day of )9~~,1974,before me, £~;j,II~,the undersigned officer,personally appeared 7711VL,l'tdc.d:~;~~,known to me (or satisfactorily (f proven)to be the person whose name is subscribed to the within instrument and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF,I hereunto set my.'hand and official seal. .. Notary Public,State of FI~rida at Large My Commission:Expires Oct.8,1977 B:mded by American Fire &Casualty Co. Exhibit "A" ... "'("- ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED NEr ASSErS PER FEDERAL ESTATE TAX RErURN FOR ALLOCATION BErWEEN TRUSTS Testamentary Assets per Federal Estate Tax Return 2,737,834.97 Deductions per First and Final Account Bequest paid Net Testamentary Assets Less Taxes paid: Federal Estate Tax and Interest Pennsylvania Transfer Inheritance Tax Net Assets for allocation between Trusts CALCULATION OF MARITAL DEDUCTION TRUST Gross Estate per Federal Estate Tax Return Less deductions claimed Adjusted gross Estate Maximum Marital Deduction -1/2 of adjusted gross Estate Less other qualifying assets: Jointly owned property Death benefits paid directly to surviving spouse Insurance benefits paid directly to surviving spouse Gift Bequest under Article One of the Will Marital Deduction Trust CALCULATION OF MARITAL DEDUCTION TRUST PERCENTAGE FOR ALLOCATION Qf ASSETS 1,274,717.71 =62.2862% 2,046,548.29 148,471,59 4,934·50 412,266,80 125,613.79 39,809.01 23,000.00 70,000.00 13,000.00 4,934·50 153,406.09 2,584,428.88 537,880.59 2,046,548 .29 2,883,64~.98 ~2,721.55 2,850,922.43 1,425,461.22 150,743.51 1,274,717.71 VALUE OF MARITAL DEDUCTION TRUST AS A PERCENTAGE OF BALANCE FOR DISTRIBUTION Principal -Personalty per Additional Receipts and Disbursements Schedule Less Bequest Value of Marital Deduction 62.2862% Exhibit "E" 2,049,935.49 4,934·50 2,045,000.99 1,273,753.41 "1..... IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS''COURT DIVISION NO.63-71-1082 ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DEX::EASED ADDITIONAL RECEIPI'S AND DISBURSEMENTS TO THE FIRST AND FINAL ACCOUNT OF HOWARD S.GUTTMAN AND THE UNION NATIONAL BANK OF PITTSBURGH EXEDUTORS December 3,1974 SUMMARY SCHEDULE A PRINC IPAL -PERSONALTY Receipts Page 3 2,737,794 97 Disbursements Page 3 6R7.Rl)q l.R BALANCE 2,049,935 49 SCHEDULE B rnCOME -PERSONALTY Receipts Pages 3 - 4 216,204 21 DisbUrsements Page 4 12 J,1~70 BALANCE 201,76l)l)l NET BALANCE 2 2l)1 .701 00 The Balance Consists of the Following: Principal -Personalty Stocks As shown in the First and Final Account 50,713 88 Bonds As shown in the First and Final Account 145,460 00 Notes As shown in the First and Final Account 1,8M.,836 54 Distribution (See Exhibit No.I,Page 28 of l the First and Final Account)L .Q1l.l)O 2,045,944 92 Cash on hand 1QqO l)7 2,049,935 49. Exhibit "B" " I.,.... ESTATE OF LEO DONALD GUTTMAN A/K/A LED D.GUTTMAN.DEtEASED Income -Personalty Distribution (See Exhibit No.I,Pages 28 -29 of the First and Final Account 187,492 05 I Cash on hand 16 271 /.6 203,765 51 2,253,701 00 - 2 - ·' ,.,'... - 97 69 79 11.8 24 00 24 ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN,DECEASED SCHEDULE A PRINCIPAL -PERSONALTY RECEIPTS Receipts in accordance with the First and Final Account filed 2.7'37.79L,. DIS BUR S E MEN T S Disbursements in accordance with the First and Final Account filed 687,345 Other Taxes 1 9 7 4 Nov.19 Russell Marino,Agent Balance of Pennsylvania Transfer Inheritance Tax 513 687.859 SCHEDULE B INCOME -PERSONALTY R E C E I P T S , Receipts in accordance with the First and Final Account filed 215,273 The following entry 3/8/72 under Miscellaneous, Page 27,First and Final Account,to be corrected From: Refund of income tax paid by Guttman Supply Company in re overpayment of Corporate Loan Tax 55.95 Interest on above refund 8.62 -64 57 To: Miscellaneous Guttman Supply Company of Washington, Pennsylvania Interest on liquidation proceeds from:12/6/71 -11/6/73 442.70 (shown page 26,First and Final Account) to:10/23/71 -11/6/73 498.65 55 95 Interest on refund of Federal Income Tax 8 62 0 215,273 -3 - --,I'0 0'...'",'-~..-,.,••A II ESTATE OF LEO DONALD GUTTMAN A/K/A LEO D.GUTTMAN.DECEASED , Dividends -Stocks American Telephone and Telegraph Company Common Entry shown page 23,First and Final Account to be corrected as follows: From: 300 shares 10/1/74 486.00 To: 300 shares 7/1/74 -10/1/74 486.00 0 00 Cleveland Electric Illuminating Company Common I500shares11/18/74 '300 00 I 300 00 I Miscellaneous Refund of overpayment on Accountant's Compensation First and Final Account 630 97 216.201,.21 DIS BUR S E MEN T S Disbursements in accordance with the First and Final Account filed 12,351 77 Administrative Expenses I1 9 7 4 Nov.19 Russell Marino,Agent Interest on balance of Pennsylvania Transfer I Inheritance Tax 7/23/72 to 11/23/74 71 93 Dec.3 The Union National Bank of Pittsburgh I Accountant's Compensation It::00 12,438 70 I I - 4 - j • Mr.Donald L.Dawson,Trust Officer The Union National Bank of Pittsburgh Post Office Box 837 Pittsburgh,Pennsylvania 15230 Dear Mr.Dawson: • 165 Arlington Avenue Charleroi,Pennsylvania 15022 Please be advised that as the wife of Leo Donald Guttman a/k/a Leo D.Guttman,Deceased,I hereby claim the family exemption of Fifteen Hundred ($1,500.00)Dollars to which I am entitled under the Fiduciaries Act of 1949,as amended,payment to be received in cash. Very truly yours, #9240 Exhibit "c" IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION IN RE ESTATE OF • LEO DONALD GUTTMAN a/k/a NO.63-71-1082 LEO D.GUTTMAN, DECEASED R E CE I P T I,MARGARET BISSELL GUTTMAN,do acknowledge to have received from The Union National Bank of Pittsburgh,Executor of the Estate of 'Leo Donald Guttman a/k/a Leo D.Guttman,Deceased,the following,in full payment of my bequest under the Last Will and Testament,Article One,of said decedent~ Household Goods $4,934.50 ...'.... 1974 • WITNESS my hand and seal this ,;J.e,d day of ~jf7+ WITNESS: ~~~~I.i::.;.~;.:·,-a.=Lti~t1:::::#!:~CSEAL ) Guttman Exhibit "D" .. WILL of LEO DONALD GUTTMAN ,." I,LEO DONALD GUTTMAN,of the City of Charleroi, Washington County,Pennsylvania,declare this to be my last will and revoke any'and all wills previously made by me. ARTICLE ONE.I give and bequeath all my clothing, jewelry,furniture,automobiles and other articles of personal or household use,equipment and ornament,together with any policies of insurance thereon,to my wife,MARGARET BISSELL GUTTMAN,if she shall survive me.If my said wife shall not survive me,I give and bequeath such property to my son,MAURY S.GUTTMAN,if he shall survive me. ARTICLE TWO.If my wife,MARGARET BISSELL GUTTMAN, shall survive me,I devise and bequeath to the trustees named in Article Six here6f,in trust,a fractional share of the residue of my estate determined as follows:The numerator of the said fraction shall equal the value of one-half (1/2)of my adjusted gross estate as finally determined for federal estate tax . purposes,reduced by any property or interests that qualify for the federal estate tax marital deduction and that pass or shall have passed to my said wife otherwise than under this Article of my will;the denominator of said fraction shall equal the value of my residuary estate.Such fractional share shall be determined on the basis of the values finally determined for federal estate tax purposes,shall include,to the extent possible,only assets that,under the Internal Revenue Code applicable to my estate, qualify for the said marital deduction,and upon which there is available no foreign death tax credit,and shall be undiminished by any estate,inheritance,or other death taxes. If my said wife and I shall die under such circumstances ".0 that it is impossible to determine which of us survived,it shall be conclusively presumed and this will shall be construed as if my said wife had survived me. The trustees shall hold,manage,invest and reinvest the trust property,shall collect the income thereof,and shall distribute the net income in quarter-annual installments,or more frequently if the trustees deem it advisable,to or for the benefit of my said wife during her lifetime.If the income thereof shall be less than Twenty-five Thousand Dollars ($25,000.00)per year,the trustees shall distribute to my said wife such amounts from the principal of the trust as shall be necessary to increase the aggregate distributions to my said wife,including income distributions,to Twenty-five Thousand Dollars ($25,000.00)per year.In addition,the trustees in their discretion may distribute to or for the benefit of my said wife so much of the principal of the property held in trust for her as they shall from time to time deem necessary or proper for emergencies involving her health,maintenance and support. On the death of my said wife,the trustees shall distribute the principal of the trust property to such persons (including the estate of my said wife)and in such proportions as my said wife may by her last will appoint by specific reference to this power of appointment.In the event of her failure so to exercise this power,the remaining principal of the trust property shall be added to and become a part of the principal of the trust created under the terms of Article Three of this will to be continued in trust or distributed as provided therein. -2- ·. ARTICLE THREE.I devise and bequeath the balance of the residue of my estate,or all of the residue if my said wife shall not survive me,to the trustees named in Article Six hereof in trust for the following purposes:Until my son,MAURY S. GUTTMAN,shall reach the age of forty (40)years,the trustees shall distribute to my said son so much of the net income as shall not exceed the sum of Twenty-five Thousand Dollars ($25,000.00) per year.Any income in excess of Twenty-five Thousand Dollars ($25,000.00)per year shall be added to the principal of the property held in trust for him.The trustees shall also distribute to my said son so much of the principal of the property held in trust for him as he shall certify to be necessar for the establishment or continuation of any business in which he may wish to engage,but such distribution or distributions shall not exceed One Hundred Thousand Dollars ($100,000.00)in the aggregate. When my said son shall reach the age of forty (LI-O) years,the trustees shall thereafter distribute all of the income from the property held in trust for him to my said son.The trustees shall also distribute to or for the benefit of my said son so much of the principal of such property as he shall certify to be necessary for any emergency or for his personal use,but such distribution shall not exceed in the aggregate the sum of Twenty-five Thousand Dollars ($25,000.00)in anyone calendar year. At any time during the continuation of the said trust, the trustees in their discretion may distribute to or for the benefit of my said son so much of the principal of the property held in trust for him as they shall from time to time deem -3- necessary or proper for his health,maintenance and support. On the death of my said son,the trustees shall distribute any property then held in trust for him to his issue then living,per stirpes,subject to the provisions of Article Four hereof;if he shall have no issue then living or,if at the time of the death of the survivor of my wife and me,I shall have no issue then living,the trustees shall distribute the trust property to the children then living of my brothers,JESSE B. GUTTMAN and HOWARD S.GUTTMAN,per capita,or the survivor of such children. ARTICLE FOUR.If any beneficiary of my estate is a minor,I devise and bequeath the share of my estate to which such minor would otherwise have been entitled to the trustees named in Article Six hereof in trust for such minor.The trustees shall distribute to the guardian of the person of such minor or, in the trustees'discretion,shall apply directly so much of the net income,and if the net income is insufficient,so much of the principal of the share so held in trust for such minor,as the trustees may deem necessary or advisable for the comfortable support,education and welfare of such minor.The trustees shall accumulate any surplus net income and add the same to the principal of the trust.When such minor reaches the age of twenty-one (21)years,the trustees shall distribute to him the principal of such share and any accumulated income thereon, absolutely and free from all trusts.If any such minor shall die before reaching the age of twenty-one (21)years,1;he property held in trust for him,including any accumulation of income thereon,shall be distributed to such person or persons as are entitled to his estate. -4- ARTICLE FIVE.Except as otherwise provided herein, during the continuance of any of the trusts created under the provisions of this will,and thereafter until the property is distributed to and received by the beneficiaries hereunder,the principal sums thus held in trust for the beneficiaries, respectively,and the income thereof shall not be sUbject to or liable for any contracts,debts,engagements,liabilities or torts of such beneficiaries,or any of them,now or hereafter made,contracted,incurred or committed,but shall be absolutely free from the same,and the said beneficiaries shall have no power to sell,assign or encumber all or any part of said principal sums or their interest therein,respectively,or the income thereof,or to anticipate the said income. ARTICLE SIX.I appoint my brother,HOWARD S.GUTTMAN, and THE UNION NATIONAL BANK OF PITTSBURGH,as executors and trustees of all trusts created by this will.In the event of the inability or refusal of my said brother to act or to continue as an executor or trustee,I direct that no successor shall be appointed.No executor or trustee acting hereunder shall be required to give bond or other security for the faithful performance of his or its duties. I authorize my executors and trustees and any successor or successors,in their sole discretion,to exercise the following powers in addition to those given by law: (a) (b) To accept,retain and invest in any real or personal property,inclUding stock of The Union National Bank of Pittsburgh,without restriction to legal investments; To sell,eXChange,partition or lease for any period of time any real or personal property and to give options therefor for cash or credit,with or without security; -5- (c)To borrow money from any person including any fiduciary acting hereunder,and to mortgage or pledge any real or personal property; (d)To compromise,arbitrate or abandon claims; (e)To make distribution in cash or in kind or partly in each; (f)To administer a separate trust for each beneficiary hereunder,but for convenient administration such separate trusts may be combined in one common trust fund,each separate trust having an undivided interest therein; (g)To make such elections,decisions,concessions and settlements in connection with all income, estate,inheritance,gift or other tax returns and the payment of such taxes,without obligation to adjust the distributive share of income or principal of any person thereby affected. (h)To conduct any business in which I am engaged or in which I have an interest at the time of my death for such periods as are deemed advisable with power to borrow money and pledge the assets of the business and to do all other acts which I,in my lifetime,could have done or to delegate such powers to any partner,manager or employee without liability for any loss occurring therein. ARTICLE SEVEN.All estate taxes,inheritance taxes, transfer taxes and other taxes of a similar nature payable by reason of my death to any government or subdivision thereof upon or with respect to any property subject to any such tax shall be paid by my executors out of the principal of that portion of my estate disposed of by Article Three,and all interest with respect to any such taxes shall be paid by my ,executors out of the income or principal or partly out of the income and partly out of the principal of such portion of my estate,in the absolute discretion of my executors,without reimbursement from or apportionment among the beneficiaries,recipients or owners of such property for any such taxes or interest.Notwithstanding the foregoing directions,my executors may decline to pay all or -6- ,.. ""-4"~•.. "... (SEAL) -7- IN WITNESS WHERE9F I have hereunto set my hand and -~11/~/.i"""";1fIedayof~~o-aer,1967. /' determine such action to be for the best interests of my estate. any part of the inheritance taxes with respect to any remainder interest created under this will if,in their discretion,they seal this Signed,sealed,published and declared by the above named LEO DONALD GUTTMAN as and for his last will,in the presence of us and each of us,who,at his request and in his presence and in the presence of each other,have hereunto subscribed our names as witnesses thereof the day and year last above written. ~41~·~:...--_/_·_~_%_---=.:.:::.reSiding at 19t./:.,e,-~LJy. :1.J2-..l(" -------------c-----.-.-------------, ".'.e.\ "m~auit OOf tExtrntnr OOr "~miui1itratnr ftutt of Jtnnsylttuuiu }ss·Qtounty of ~. PersonallftlH,~e,the unders!g'ned authority,a Jlo.tary:.~ubllc in and for said HOWARD s.GUTTMAN and DONAm L.DAWSON,Trust Officer.ofCountyandState,appeared .lfHE..UN:I0N..NiT-I-GN:Att..Bm..-eF..PI-TepSBUHaH-;-wno,-5emg aUly sworn according to law,deposes and sa,ys that they ti'1he executon3or :mbI:JIi:JIiBtr of the es- tate of ..LlD...DON.ALD..GllTTMAN.deceased,that the foregoing schedules constitute a complete inventory and appraIsement of the'real and personal estate of .~m..lx>.NALD...GUTTMAN...• deceased,except real estate outside the Commonwealth of Pennsylvania;that the figures opposite each item of real and personal estate in the foregoing schedules are determined and stated by the undersigned to be the fair value of said items as of the date of the decedent's death.based upon a just appraisement of each item made by the above named Executor Administrator. day O SwfornT~nl~subscribed be t f 9 0re 7m~this ..12th..........:.}.~,~.,~~~.~..~~~~~;~~~p.~~S.~~,~~~~~,~,. .....lJ.o}........."""...•1M.......Executor-~Trust Officer L~WELL..R .sNYDER ",,,,..Notary...P.u.blic HOWARD S.GUTTMAN Plttsburgh,Allegheny Count~DDITIONALINSTRUCTIONS '~Commission Expirf,ils Jan..uary 6,1975 Howard S.Guttman 1.An inventory must be filed witnin tnree months after appointment of personal representative. 2..A supplemental inventory must be filed within thirty days of discovery of additional assets. 3.1 Original and 2 Copies and 2 RCRI-84,Under $10,000;1 Original and 2 Copies and 2 RCRI-33, Over $10,000,including Copy of Will;1 Original and 8 Copies and 2 RCRI-83,Over $50,000,in- cluding Copy of Will and copy of Federal Estate Tax Return. REFERENCE FOR ADDITIONAL COpy Act of 1947 P.L.513 Sec.5.2,72 P.S.4844.2 ~...,.'._ •>""•••••,~."_.-...___.._.,_,_~.._..,"''"_'_~_'"",..-__••__,.__<."..-..._~__ 'ot_---_"''~,_.__---,---__.~__.._._.._-----------....,"..",..,.,.... 3Jntttntory uub Apprutsfwnt of the goods and chattels,rights and credits which L1D DONALD GUTTMAN a/k/a .were oj ...,_.."'G,mvMrl'llW'l D d ,late oj l65.,Ar.llngton..,Av.enue."..Speara..Baroughucu~.U~~~UU1,ecease Washington County,Pa.,taken and made in conformity with the above affidavit. DOLLARS CENTS 'III IiIII •.__•__."~_~"L .,~.t·,.~.\" '_."~.~,.'._•.••••',,.., ''t'"',._,,;,.,",',.".•••.'.,•••.,._' ., Inventory ana Appraisement IN THE ESTATE OF Leo Donald Guttman a/k/a ...Leo D.•...Gut.tman,D.ec.eas.ed . .,. i' '- Filed .19 . ,. " Robert F.Patton,Esquire Buchanan,Ingersoll,Rodewald, Kyle &:Buerger 1800 Oliver Building Pittsburgh,Pennsylvania 15222 "'-5 ,J ·,1:. INVENTORY • I of all real and personal estate of LEO DONALD GUTTMAN a/k/a LEO D.GUTTMAN,Deceased, late of 165 Arlington Avenue,Speers Borough,Washington County,Pennsylvania. PERSONAL ESTATE SCHEDULE Mellon National Bank and Trust Company Checking Account #451-5896 Guttman Realty Company Salary payment for October,1971 Guttman Oil Company Salary payment for October,1971 Reimbursement for automobile expenses for October,1971 The Travelers Insurance Company Reimbursements for major medical expenses Bell Telephone Company of Pennsylvania Refund of telephone charges previously paid Thrif-T Oil Company Reimbursement for overpayment of interest on personal loan for 1971 Hi-Fi Investment Club #2 Proceeds of proportional interest Guttman Petroleum Company Payment of share of proceeds of liquidation of Mandis Company Guttman Supply Company of Sharon,Pennsylvania First and Final liquidation payment Guttman Supply Company of Washington,Pennsylvania Share of Federal Income Tax Refund received as part of liquidation proceeds Stocks 4 shares Cities Service Company Common @ 44 1/4 83 1/4 shares First National Bank &Trust Company of Washington,Pennsylvania Common @ 41 120 shares Global Development,Incorporated Common @ 6 $4,428.83 330.00 2,625.00 150.00 2,736.00 2.29 297.23 280.17 2,481.73 7,326.12 54.48 177.00 720.00 '.. ~ .,. stocks (continued) 1,000 shares Guttman Towing,Incorporated Capital @10.508 98 shares Texaco,Incorporated Capital @31 1/4 The following securities were covered by two Buy-Sell Agreements,both dated October 14;1969,between and among each of the respective companies,Howard S.Guttman and Leo D.Guttman.On February 1,1972,each of the companies elected to exercise their option under said Agreements to purchase their respective shares of stock owned by the Estate of Leo D.Guttman,Deceased.In accordance with the terms of the Agreements,the sale price for each of the companies'stock was based upon the net book value as of the close of the immediately preceding fiscal year,and such value was then increased by fifty per c~nt (50%). 250 shares Guttman Realty Company Capital @ 2181.948 100 shares Gutbro Development Company Capital @ 2002.82 50 shares Mercer Realty Company Capital @ 3380.72 100 shares Jesse B.Guttman Towboat,Incorporated Capital @ 473.98 . 5 shares GBL-7,Incorporated Capital @ 3370.60 5 shares GBL-8,Incorporated Capital @ 4185.20 5 shares GBL-9,Incorporated Capital @ 2940.80 2 shares GBL-IO,Incorporated Capital @ 5040.00 100 shares Guttman Oil Company Capital @ 5673.99 50 shares Guttman Petroleum Company Capital @ 7536.36 5 shares Thrif-T Oil Company Capital @ 35,597.00 200 shares Guttman Supply Company Capital @ 535.81 10 shares Guttman Fuels,Incorporated Capital @ 818.60 $10,508.00 3,062.50 545,1;37.00 200,282.00 169,036.00 47,398.00 16,853.00 20,926.00 14,704.00 10,080.00 567,399.00 376,818.00 177,985.00 107,162.00 8,186.00 ..;.....-.----,t ,1.f" stocks (continued) 50 shares Gutbro Barge Lines,Incorporated Capital @1485.34 50 shares Explorer Towboat,Incorporated Capital @1076.56 50 shares Express Towboat,Incorporated Capital @1071.92 50 shares Envoy Towboat,Incorporated Capital @1026.82 100 shares Martin G.Towboat,Incorporated Capital @ 501.46 10 shares Men Valley Terminal,Incorporated Capital @ 12,945.80 40 shares Men Valley Terminal,Incorporated Preferred @ 150.00 Bonds $1,000 p.v.Washington Trotting Association, Incorporated,6 1/2%Subordinated Sinking FUnd Debenture Dated 9/1/69 due 9/1/77 @ 80 Interest from 9/1/71 to 10/23/71 Miscellaneous Guttman Supply Company of Washington,Pennsylvania Liquidation Proceeds: Share of accounts receivable with interest @ 4%,unpaid balance as of 10/23/71 Interest from 10/6/71 to 10/23/71 REAL ESTATE SCHEDULE REAL ESTATE IN PENNSYLVANIA M»1ORANDUM OF REAL ESTATE OUTSIDE THE COMMONWEALTH OF PENNSYLVANIA $74,267.00 53,828.00 53,596.00 51,341.00 50,146.00 129,458.00 6,000.00 800.00 9.39 11,914.29 22.19 $2,732,290.47 None None .....-., I If Family Exemption claifed by Petition.lr..J~_J~e place ot Record:..Q~~7J.I1~~..~.J~~~~!...~~..~~.~..:r!¢..<?p:..~~~.~.9P:~...IBankofPittsburgh\attached as _J:!AX!l.ib~t "C"),and paid 2 4,72 per first and final Account,Page16 If Family Exemption is claimed at audit,give name,relationship and basis for Claim:. List any advancement or distribution on account that has been made,and nature and amount of same: :See Schedule "D"Attached Principal -Personalty Income -Personalty 4,934.50 187.492.05 192,426.55 Suggested distribution of balance shown,both as to principal and income,attaching signed and itemized elections to take in kind if balance is not in cosh:residuary shares being stated in proportions:. :'See :'Schedule l'E"attached for suggested distribution of balance shown. Article :Sixth (e)of the 'Will provides,liTo make distribution in cash or in kind or partly in each." TO:Margaret Bissell Guttman,survl:VJ.ng spouse Payment of bequest under Article one of the 'Will per receipt filed Household goods TO:Howard:S~Guttman and The Union National Bank of Pittsburgh, Trustees under the Will of Leo 'Donald Guttman for Margaret Bissell Guttman (Maxital Trust A) As shown in Proposed :Schedule of'Exhibit "E" TO:Howard 3.Guttman and The Union National Bank of Pittsburgh, Trustees under the 'Will of'Leo Donald Guttman for Maury 3. Guttman (Residual Trust B) As shown in Proposed Schedule of Exhibit "E" ALLEGHENY COUNTY OF WX~,55: COMMONWEALTH OF PENNSYLVANIA. Fiduciaries The above named ~or representative thereof, 4,934.50 1 ,400,671 .20 848,095.30 2,253,701.00 being duly sWQrIl doth depose and says that the facts set forth in the foregoing petition are true to the best of ~h~~~knowledge and belief. .........?ti.9.~~to and subscribed before me thiS r..~day of..~~~~19:z..tj. Signature of Officer ~;,t.:.::..~:._..;;.. 711 t,fublic WI I~"'"Title of Officer ~~:t!~E~~.<?. Office expires ~.I.:.':?!.I..l.9..1J... MARGARET W.BAUMAN.NOTARY PUBLIC PITTSBURCH,ALLEGHENY COUNTY MY COMMISSION EXPIRES JAN.31,1977 Member.Pennsvlvania AssociationofNotaries And your petitioner will ever pray,etc. .........................................................................................I THE ~NATION~L.~OF PITTSBURGH,CO-EXECU'L'O~ Fff.~~C:r:~. Donald L.Dawson,Vice President ..;-", .}' , Ijt,l. IIt '.iJ ,;,,' I No..2?-_.::_.7J ::..J.g~.?_.._ Estate of_.•.•~Q_:P.9~__9~~~_._._..._._._ ._..p.f~i~__..~9...P-!.__g~~_..~. · . Deceased . Fiduciary Hg}oT_~_<;l__$_!G:lJ:t&IJ!@..@g__~h~. __v.~.9.~._~§l:~~9.~~__~~__~f__~~_i.?~_~~g:t?:~__.E:x:ecutors PETITION SUR AUDIT FROM WHERE DECEDENT LEFT A 'WILL Counsel of Fiduciary will submit herewith the following,in conformity with Court Rules adopted effective December 3,1951,being rule No.9:po rag raph b-c;and divisions thereof:shown on pages 23-24. 1.Written praecipes of all Counsel in the case. 2.Copy of order appointing Guardian ad litem,if pertinent. 3.Copy of Order appointing Trustee ad litem,if pertinent. 4.Proof of service of above. 5.Letters Testamentary or Administration C.T.A.or an attest copy of Will. 6.Copy of inventory and appraisement. 7.Proof of advertisement of grant of letters if not filed with account. 8.Certificate of liens in case any of the funds for distribution are from judicial sale of real estate. 9.Signed and itemized elections if any distribution·in kind. 10.Copy of Federal Estate Tax return if es- tate is subject thereto. Robert F.Patton,:Esq. Buchanan,Ingersoll,Rodew8J.d,Kyle and Buerger 1800 Oliver Building r.< pfttsbUXgh~---pennsYlva.nra:·--1-52·~t~~~~~--· (562-8911)~2 '"".~,.\,~ (').1,. POST OFFICE SOX NO.837 PITTSBURGH,PA.15230 J DONA.LD L.DA.WSON TRUST OYPICER December 2,1971 Mr.Guy A.Rodgers,Deputy Register of Wills Clerk of the Orphans'Court Washington,Pennsylvania In re:Estate of Leo Donald Guttman,Deceased Dear Mr.Rodgers: In accordance with our telephone conversation today,I am enclosing the original of the Acceptance of Trust for filing executed by Howard S.Guttman and The Union National Bank of Pittsburgh,as Co-Trustees of the Will of Leo Donald Guttman a/k/a Leo D.Guttman. After this document has been filed ;will you please send us a statement evidencing,that action and for any cost involved • . )krY:truly yours,W C\,;//1t?1,-t<U/.~'v~--_ Donald t.Dawson Trust Officer DLD/mf Enclosure #9240 -_....-:' -------------------------------- I \ • THE UNION NATIONAL BANK OF PITTSBURGH BY~~~' Trust Officer NO.63-71-1082 ,......,. _,..t'1 IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIVISION" Book No.112,hereby accept the duties of said appointment.. the Register of Wills in and for Washington County,Pennsylvania in Will HOWARD"S.GUTTMAN and THE UNION NATIONAL BANK OF PITTSBURGH, Trustees named in the Will of LEO DONALD GUTTMAN a/k/a LEO D.GUTTMAN, Deceased,dated November 1,1967 probated and of record in the Office of THE UNION NATIONAL BANK 0'PITTSBURGH J'artUa17 27,1972 t3-7/-/tJtZ-j ReBister of Wills and Department of Revenue GentlemenI This company has qualified and is acting as Co-Executor of the Estate of Leo D.Guttman,vlho died October 23,1971,n.residentotWashingtonCounty. The Co-Executor is desirous of securing waivers in order that Pennsylvania stocks may be sold to provide chahnecessnry to the administration of the ~stP.te.The Est~te is not yet in a rosition to file the In'lentory.This will be dona in due course,and Yhnt- ever }'ennsy1vanio rnher!t'lnCa '.t'n.~:and Zstate '.t'rtX is ulttIM.tely found to be due vl111 be p::id.Theretore,it if-)requested that waivers be issued in accordance vith the attached application. Very truly yours, yt/ J'1.IDSS R.Holte Trust Department JRH:li' Enclosure #9240 COpy ...---.--------RCc-n (9-68) COMMnt..;WEAt\TH OF PENNSYLVANIADi;"::':~'ENT OF REVENUEBURG.~fOUNTY COLLECTIONS APPLICATION FOR AND CONSENT TO TRANSFER SECURITIES REGISTERED IN THE NAME OF A RESIDENT DECEDENT DATE -...1,~12~7f-/7.(..1:,20----APPLICATION (MUST BE FILED IN TRIPLICATE) TO THE PENNSYLVANIA DEPARTMENT OF REVENUE: Application is hereby made for CQ'lsent to the transfer of the following securities of a Pennsylvania Corporation or a National Banking Associalion located in Pennsylvania: (a)9 (b)First National Bank &Trust Company (c)__C.::....o=mm=o=n=--_ (NOTE:In describing securities enter in (a),ab CNe,either the number of shares of stock or the face amount of registered bonds,in (b),the name of the issuing company and in (c)the class of stock or the stated interest rate and maturity date of registered bonds.) ISSUED ON U/2/66 ,and having a TOTAL MARKET VAilUE OF $......3q,l.!:!t4D!:!:!..o3L!1.=00~_ (Date) as of the date of death of the decedent,Leo Donald Guttman ,on_l .....)0/<.-2-:3:.<.../_7_1 _ (Name of Decedent)(Date of death) who was Iate of__16....5,L......:;Ar_1_i"""'ngtili>-"'-'o~n"--=A..Lve".,nu"."....e<--__-=C=har""""""'1""'e=r'-"o<ei'---Washingt.on.__~P__"e'_"'nn~ay~l~v~a.~ni!!::.la=l!....-- (Street and Number)(Post Office)(County)(State) The securities are registered as follows:L_e_o_D-=--,_Gu_t_t_D!8_n _ (Name or names in which certificates are registered) Pittsburgh,Pennsylvania 15230 UNION NATIONAL BANK OF PITTSBm{QH c 0 Trust De t ~,O,Box ~8 7 Co-(Name)(Address) NAME OF APPLICANT The Uni on N8tion~Jl J3"nk of Pittsburgh c/o The Trust Department COUNTY FILE NUMBER 63-71-1082 ADDRESS OF APPLICANTP.O.Box !.~a37,Pgb.Pel 15230 BUREAU FILE NUMBER 63-71-1082 SIGNATURE OF APPLICANTIV ~~ NOTICE:IF YOU FAIL TO PROPERLY FILL IN ANY PORTION OF THIS APPLlC~~,Jil,wj~1£9OBE CONSIDERED COMPLETE AND WILL BE RETURNED TO YOU FOR COMPLETION. COMMONWEALTH OF PENNSYLVANIA -DEPARTMENT OF REVENUE CONSENT TO TRANSFER SECURITIES DATE1 February 1972 I hereby consent to the transfer of the above securities now registered in the name of the aforesaid Decedent and waive the fi ling of a certificate certifying to the payment of the transfer inheritance tax to which the property of said Decedent is made subject pursuant to the provisions of the Act of June 20,1919,P.L.521, as amended and the Act of June 15,1961,P.L.373,as amended.This is also in accordance with the provisions of the Act of April 9,1929,P.L.343. This Consenf to Transfer the herein described property operates only in reference to the estate of the above-named Decedent. Register of Wills Washington (Title)(County) "28-0 ., \~l*-,~ Register ot Wills and Department,ot Revenu~ Gentietnen2 THE.UNION NATIONAL BANK•'J'.;tfo- 0'PITTSBU'RGH' December 26.1972 ," Thiscompanj bas qualified and ~s,act~nga8 Co-Executor ottha·· Estate o(~eoDonald Q:uttman,'Who died Ootober 23,1971,a residentotWashingtonCount,...'., The Co";'Executor is desirous ot ,securing waivers in order.,thatPennsyltta~ia stocks may be so:tdtoprovide .cash·n~cessar:r to"the ' .achDinistration ot ~e Estate.The -'~state:isnnot Yet in a position to tile the Inventory.This will be done'in due course,and what-' .ever Pennsylvania Inheritance Tax and Estate Tax is ult1m8.telytound to be due will be paid.Theretore,it is.reques,*that waivers be issued in accorda.nce with the attached applicati~n• .Very 'truly yourS.lf ,.(~b,'n~4'Rr)[j,~'7/",t/James R.Wolfe ,Trust'Department .1RWnf Enolosure 119Z40 ,:.;' COpy .~. ~.',." I I •) , i t:~_·;.~.~J.'~~~~,f 3,,(~,,:~~(~:·~,~eJ? '?J.,;i~~~.,,:-),'d "'::..;".•"f{~Jr:':t'1:';;v(i, '. j'r'~;~";1T';;fl.'7.!"!111 ~~~~o.\tl:ei;;'~n,r.':t'!.f!1a(;';1:0 C~Lie:l..~"'l!l 1:1:"'iQ,711')QX?J,,·of)~:rrt .f',ttj,r·4.··',...."':2"'tlN{riF"'V·:t:lh1.V(p ...·;.,.......t'i;'-,""','.".;:'i'fi 1":""..•.,•...;4 I""SlJ",i"';'p"'.".,,,:'T".',W .tilO '.•'..~,_......,-.1;..._;,""......:,..,........~..:.'..~"::._'"~'-,.",..":11._'\;,,.....~,.'.1.~.-""'M.",tL:.;...:.:-~ tIo..l·j'l:'t"o:}'0 .C!£Je~';~irw".t.:f!lj~~~~,!',.....::li,1·11:".~:or!~,'1:.:t~:~~,1'r.l(,'i~~~~\~)~.(,~hil S .'tH3r.r.r~·Ot"\e,f7tl ,if,:o@(fOb 'if'}:j .LX .t.~~.t '~;ri"~\•~cr:j;Jr:G\rtJ T.v<)l;~t.~~_~_~~-;~: •<\.J"""i.,r '".'..'II "..'.;.".,,..'",.1\,.',"•'¥,'.t''::1""{;:9di~tI11:Z;..;~f ex 'x.t'!:.~.ij\lr!l:.(:'it.\:'.~g,i (j~!z,...;rJ.'l·~·t'-fU "·,)-i!;"l.vf",~ti'::'7};,!,,,4'FI ed '}:tt'Vhl';.:,,;t,r ttS&:'lfG~'!tl.f.;;l.;:ir':fC'_-i..~;r,~.rJ~::,.~e1'rL~j,.!":ttf\)e}~i ~<~'l.'~!+''';l #.r~R!al1~'~:.O ry-;.-l:,,~:1>.:':'",~.j.h!~,.,F1';"'-'''''''.t"J:r...··,"'.",~."t ...\;1,.•",L ..1"~,~,--f'';:'IJ __~_.~'''J_l'-"~....~--'"'-..'!\.""'",.....~,.J,i _....-~,\1.__... " ,~~i.f'j\:'?;Ln'1.f '''r;t/."'"'; j \;}'1J.o\ii .H Smtt,l-l'i:. ~j"~~t~;j:J".L~-''t:'l:;,;~.Ul{i?\ ·:t1':~1\t. ',-.-:'!!'p,o!(\n:¥: ~}~£~)~{\ .,(9-68) NWE.(LTH OF PENNSYLVANIA P'ARTMENT OF REVENUE I UREAU OF ~J~rf COLLECTIONS 1, 'f APPLICATION FOR AND CONSENT TO TRANSFER SECURITIES REGISTERED IN THE NAME OF A RESIDENT DECEDENT ----~ DATE ---=1~2l-J./;J426:ow/!q7:;;J.2 _APPLICATION (MUST BE FILED IN TRIPLICATE) TO THE PENNSYLVANIA DEPARTMENT OF REVENUE: Application is hereby made for consent to the transfer of the following securities of a Pennsylvania Corporation or a National Banking Association located in Pennsylvania: (a)10 (b)Three Rivers Bank and Trust Company (c)_~Ca~p~iL!lt"",a_1 _ (NOTE:In describing securities enter in (a),ab Ole,either the number of shares of stock or the face amount of registered bonds,in (b),the name of the issuing company and in (c)the class of stock or the stated interest rate and maturity date of ~egistered bonds.) ISSUED ON 1l!8/72 ,and having a TOTAL MARKET VAilUE OF $..-,5;;J;;lV0-.4.0/.UO------ (Date) as of the date of death of the decedent,Lao D.Gnttmsn ,On_--Ll~O/~2::.,;.3¥!-+Xl..L-----_ (Name of Decedent)(Date of death) who was late of---:llC6~5>--£Arl!;1l::1Idngl&'~t,QODt1-JA.~v~eil111'WI19~,r-------.\I,Chaowr;!,,\l.ee~rog;11.j,r--J:-PeeJll1Dtl.WisP.ly..lv~a!i\.l.D.1~a.---.l...,5~O""2~2--- (Street and Number)(Post Office)(County)(State) The securi ties are registered as follows:__L.!:!!e!:!.lo~D~.~Gu~',&jtL.lJlt!&Ymala:n~·_ (Name or names in which certificates are registered) Co- Pittsburgh,Pennsy'lvania 15230~}THE UNION ,NATIONAL BANK OF PITTSBURGH c/o Trust Dept.,PO.Box #837m~)(Name)(Address) NAME OF APPLICANT The Union NatioDal Ihnk ot Pittsburgh oj0 Trust Department COUNTY FILE NUMBER 63-71-1082 ·ADDRESS OF APPLlCAf:(Lp~Oh-.--i:B~ax~#8~1w7---7f-~--=-- pitts Penn +v,15230 BUREAU FILE NUMBER Same SIGNATURE OF APPLICANT4-J.-,4,~~Y~~~_;_;:;:--;-- NOTICE:IF YOU FAIL TO PROPERLY FILL IN ANY PORTION OF THIS APPLIe:~~ItT t Dept. CONSIDERED COMPLETE AND WILL BE RETURNED TO YOU FOR COMPLETION. COMMONWEALTH OF PENNSYLVANIA -DEPARTMENT OF REVENUE CONSENT TO TRANSFER SECURITIES DATEJan.2nd.1972 I hereby consent to the transfer of the above securities now registered in the name of the aforesaid Decedent and waive the filing of a certificate certifying to the payment of the transfer inheritance tax to which the property of said Decedeilt is made subject pursuant to the provisions of the Act of June 20,1919,P.L.521, as amended and the Act of June 15,1961,P.L.373,as amended.This is also in accordance with the provisions of the Act of April 9,1929,P.L 343. This Consent to Transfer the herein described property operates only in reference to the estate of the above·named Decedent. ~---~. Si9:ror t a ocrotary of ~ovonuo • By ~1~ (Signature) Register of Wills Washington (Title)(County) POST OFFICE BOX No.837 PITTSBURGH,PA.15230 DONA.LD L.DA.WSON TRUST OFFICER Mr.Guy Rogers Register of Wills Office Washington County Charleroi,Pennsylvania July 13,1972 In re:Estate of Leo Donald Guttman,Deceased Dear Mr.Rogers: I was sorry to miss you on my visit to Washington today,July 13, 1972.I did,however,file with your office the original and one conformed copy of the Inventory for the above estate.I am enclosing herewith another conformed copy,which your office requires. I would like to again reiterate the importance of non-publicity in this estate.This is a direct request from the family and The Union National Bank will certainly appreciate your cooperation in this regard. Thank you in advance. Donald L.Dawson Trust Officer DLD/mf Enclosure #9240 r Form RCC-33 RESIDENT DECEDENT -~~-------------:;o;r;------~---""-~ W-7{-/68~.~..rJ.'- COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COllECTIONS COUNTY OF WASJUNG'l'.QN ",.. IMPORTANT:This return mllS t be c mpleted in detail and filed in duplicate,with will attached,with the Register of Wills of the County where decedent resided;.Return is due within one year after date of death,unless an extension is granted by the Secre tary of Revenue.(Section 703 of the Inheritance and Estate Tax Act of 1961.) ..Pe.nnsylv.ani.a.} ...A+.J.,.E?gh~.ny......................................ss:County of State of . IN THE MATTER OF THE ESTATE OF }INAFFIDAVITOFv,(,{--····..·..·..·..·(·~t·~~i""E~~·..~~~~~···················......................................EXECUTOR S ~ ~-Late of Washing.ton.............County .ijQWA@...S..~.....QJJ.'l.''l.'MAN....JUiJP.....T.H.E.....uNI.QN.....NAT.IONAL....BANK....OF.....PIT.TSBUBGH..... ~of the estate of the above-named decedent being duly sworn,depose and say Executor S Decedent died 'OQ$.Q.p..~.;r......23 ,19 71 ,J testate leaving a la~t will,copy of which is hereto attached.} (Month)(flay)(Yf:flr)LilliDIXHJ(' Name and address of attorney or}Robert F.Patton,'Esqui;re .J:3,y.gp...~.t:l:.I.?:.'"......~~gE;l:r;.:3.91~,.....R94l?"!~+.4.".....JS:yJ.,.~....:& other .authorized representative to .r,...wh~ni;;l1 correspondence should be Buerger -1800 Olive.li\Building~e.::J):Ltt~P.v.,:r.:gh,.Pe.:r:m~ylv.a.n.ia 1522.2 . mailed..a,re . That as such ~.~.!I!J..t.Q.r.~:deponent "JBdamiliar with the affairs of said estate and the property con- (Jo:x""lItor~ stituting the assets thereof and their fair market value. That at the time of death there was no safe deposit box registered in decedent's individual name,or jointly with,or as'agent or deputy of another,or in decedent's individual name,with right of access by another as agent or deputy,with the exception of the following:- NAME AND ADDRESS OF BANK OR OTHER INSTITUTION THIS SAFE.DEPOSIT BOX RENTED'RELATIONSHIP OF JOINT IN WHICH DECEDENT RENTED A SAFE DEPOSIT BOX IN NAME OR NAMES OF HOLDERS TO DECEDENT First National Bank.&Trust Comnanv of Leo D.At.::ll,(T.An n Washinl2'ton.Pennsvlvania Guttman..Tesse R ~Brother Ch::lrleT'ni nf'f';(>A Deceased.Howard S.~L Brother Box H 11)1 That the contents of said safe deposit box or boxes are itemized under Schedules of this return,with the .exception of the follOWing,for the reasons hereinafter,set forth:Nothing contained in safe deposit box. That Schedule A attached hereto and made part hereof sets forth fully and in detail all the real property in the Commonwealth of Pennsylvania of which decedent died having an interest therein.It also sets forth the mortgage encumbrances upon each parcel of real property at the date of death,giving the amount still due at death,name of mortgagee,date,rate of interest,and book and page of record thereof.It also sets forth in the columns provided therefore the assessed valuation of each of said parcels,the estimated market value thereof as of date of death of decedent. That Schedule B attached hereto and.made part hereof sets forth fully and in detail all personal property wheresover situated owned by the decedent at the time of death;all moneys left by the decedent at the time of death,whether in decedent's immediate possession,.standing to decedent's credit in banks of deposit,savings banks,trust companies,or other institutions,whether individually,or in trust for any other person or persons giving also separately the accrued interest thereon,if any,down to the last interest day prior to decedent's death in the case of ~avings banks,and.to 'the date of decedent's death in all other cases;all bonds,postal saVings,treasury certificates or notes and other evidence of in- debtedness of the United States to the decedent;all Obligations,whether~~r ~tatute or agreement they are designated as tax free,of the Uni ted States,or any state,or politlcli.i>subdivision thereof,or of any foreign country,which are owned at the time of death;all wearing apparel,jewelry,silverware,pic- tures,books,works of art,household furniture,horses,carriages,automobiles,boats,and any and all other personal chattels of whatsoever kind or nature,left.bydecedent,together with the fairly estimat~d market value thereof;all bonds and mortga~es held by decedent and of all claims due and owing dec~dent d.t the time of death,and all promissory notes or other -instruments in writing for the payment of money of which decedent died possessed,of whatsoever nature,with interest thereon,if any,giving the face value and estimated fair market value thereof,and if such estimated fair market value be less than the face value,it sets forth briefly the reasons for such deprec~ation as to each item;.all moneys payable to the estate from life insurance polici"es carried by decedent;all annuity and endowment contracts the proceeds of which were payable upon the death of the decedent;and all the corporate stocks and dividends due thereon and unpaid as of the date of death,bonds and accrued interest thereon to the date of dece- dent's death and other investment securities owned by the decedent at the time of death,with the market value thereof at such time. .; .~'.,-. In the case of securities of close or family 'corporations,the values reported are as far as possible substantiated by f1nancf~l statements'<,>f the corporations,showing the assets and liabilities thereof ~s,pft;he.date...ot,:.de~th.'.,.The schedule,also sets forth the interest of decedent'at the time of death in'any co.:.partnership or business,and i~supp~rt ofth~'v·alu~of,.such intere~t'there is a~nexed t~ said schediIle,'.f1nancia1 statements shoWing the asse'tiS and liabilities of said co-partnership or business. A copy of the co-partnership agreement,(if oral,a statement setting forth 'the nature of the agreement) together with astatementsetqng forth the character',of the business,its location,and such other facts pertaining to the business as may be pertinent to a fa.ir and just'appraisal'ofthede'cedent's interest therein must be submitted.It should also s~t forthi~itemized form,together with the fair market value thereof,any other property owned or bequeathed 'by 'the decedent at the time of death~ ...\", The Schedule C attached hereto and made part h~er'eofsets forth a true answer to each inquiry contained therein and in the case of transfers ofproperty,real or personal,within two years of decedent's death,in contemplation'of decedent's death,or intended to take effect in possession or enjoyment at or after death,said schedule sets forth the nature and value of such property,to whom transferred,the relationship of the transferees to the decedent,the proportionate share received by each transferee and all other facts of a pertinent nature regarding said transfers.In the case of transfers intended to take effect in possession 'or enjoyment at or after death,:there.is also attached to the'f;>chedule a c0Ity of the deed,trust agreement or other instrument creating the trust.Ther\~is also set forth in said schedule a list of all property,real and personal,with its value,which pa~'ses at decedent's death by virtue of the exercise by decedent,either individually,or jointly with another,'or'any power of appoint- ment vested in decedent,either indiVidually or jointly,bythe Will,deed,or other instrument of another, With a copy of the instrument creating s2ch power attached to the schedule. That Schedule D attached hereto and made part hereof sets forth the names and addresses of all persons beneficially inte're~ted inthi'~estate at the ·time of,'decedent's d~ath,tJ:1e nature of their·res- pective interests,their relationship,if any,to the decedent,together wtththe ages at the time of de.cedent's death of all minors,annuitants and beneficiari~s'for l'ife ti~der decedeilV s Will.It also contains a statement showing which,'of the·beneficiariesriamed in the decedent'swill,if any,died prior to decedent,the dates of their death,their issue;and the-relationship of'such issue to the beneficiary. ,;' That SChedule E attached hereto .and made a part hereof sets forth all property,real and per- so.na~,owned by the decedent .jointly with a~other or others,incliI~ing intangible,~'stand~nginthe name of the decedent and others,.plus the date and pJace of record of,.1nstr.uments effect.ing;the ves.titure of real estate and the date of acquisition of personalty,.plus the name,address and relationship,if any, Q'f co-owners to the decedent•. That Schedule F.attached her.eto and made a part hereof sets forth fully'and in detail all debts and deductions claimed.for and on behalf of this,decedent's estate,including funeral expenses paid; family exemption,where applicable;costs of admi~istration or this estate;co~msel fees'andfudic1ary's co'Iiimi'ssions paid or to be paid;costexperided for burial trusts,tombstones or gravemarkers,and reli- gious services,in consequence of'the death of the 'decedent;debts and claims owing and unpaid at time of dea~h;taxes accrued chargeable for period prior to decedent's death (except those allowed under Section 6510f the Inheritance and Estate'Tax Act);together-with a statement of collateral ,pledged for obliga- tio~S,'if any.It is agreed 'that ·the fiduCiary will present proofof.saidclaimed·obligations upon re- quest,'that if the amount actually paid in settlement 'of any fee,'commission or debt is less than the es'timated amount claiming imd allowed,that the same will be report'ed ·to the Register of Wills,and that the amount of tax assessed-can be reassessed iri accordance 'therewith. ",'.> That the total!>of the appropriate columns in Schedule!;!"A","B", "C", have .been ca~r.ied forward and properly registered 1n the 'summa,?..:...~~~~~~~~~!~~e~~~~=-__ THEUNI NATIONAL BANK OF,PITTSBURGH ,,U,;/.(1I~.......By :_. .xeC'Ut~Vice President .:'~.Qf.f..7.&sL..;e.Q;l!;~).7.._ . (Street Numbe-r) .r..tt.t..~p..1r.rg4.J P..~OO§y.J"Y..@i.Sl,l.5.Z3Q . (City or Town an4 State) ....: Subscribed and sworn to before me this '"..",..:-:~fl~d.y~•.•:r~.....d(•.l~~:~ .LOWElLlfeH"Rfmlljl~<PUBl PITTSBURGH,AlHGHEN)CUUN r MY 'COMMISSION EXPIRES JAN.6.1915 Member,PellllsylvaniaAssociatlllnof Nota'ie~.NOTE:Before Signing affidavit make sure all blalik spaces in the affidavit and schedules annexed are filled in w'i th details'or"the word "None",and in case the aSsets include rare and unlisted securities, se~urities of~ios,e~r family corpo'rations or an interest in any co-partnership or business,that.the data and stateme~ts required under the parag'raph above relating to Schedule"B"are attached.Also make ce~tain that 'column #1 in the "Sununary"has been properly completed as above-directed.: ',(> r Ri!:l:-34 (H'~)" COMMONW~ALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "A" REAL PROPERTY ,. Real property in Pennsylvania,with statement of mortgage encumbrances upon each parcel at death of dece- dent.Where property held as joint tenant or tenancy by entireties,report on Schedule "E".Property held by the decedent as tenant in common with another or others,should be identified as to quantum of interest and the estimated value should be that of the decedent's interest only. The real property located In the Commonwealth of Pennsylvania should be (1)(2)(3\ described by lot and block number,street and street number,together wi th DEPARTMENTageneraldescriptionoftheproperty,with a reference to the record of the ASSESSED VALUE VALUATION conveyance by which the decedent took title;if a farm state number of a·FOR YEAR OF ESTIMATED CAUTIONcres;also statement of mortgage encumbrances upon each parcel at death DECEDENT'S MARKET VALUE (Do not writeofdecedent.Taxes,assessments,accrued Interest on mortgages,etc.,are DEATH In this space)to be listed on Schedule "F"and must not be deducted from this schedule.. None $0.00 .. ..... Insert thi s total opposi te "real property",Schedule"A"in the X X X X X IIAs Reported"column on the last page of this return.$0.00 ,. SCHEDULE "B" PERSONAL PROPERTYRESIDENTDECEDENT COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX ,, .'RCC-35 " INSTRUCTIONS:This Schedule must disclose all tangible and intangible personal property owned individually by the decedent,at the time of his death.Property owned by the decedent jointly with another or others must be listed under Schedule "E".Intangible personal property,titled in the name of the decedent,but payable at death to another or others,including but not limited to P.O.D.U.S.Savings Bonds and tenta- tive trust accounts,must b~listed,despite the fact that they are not of the administered estate. Tangible personal property should be listed first (e.g.jewelry,wearing apparel,household goods,and furnishings,books,paintings,automobiles,boats,etc.) Intangible personal property,such as bonds,treasury certificates,cash on hand and in bank, stocks,mortgages,notes,together with accrued interest or dividends,salaries or wages,insurance pay- able to the estate or fiduciary in said capacity,partnership interests,interest in anyundistributed estate of or income from any property held in trust under the will or agreement of another,even though located outside of the State,at the time of death,should be listed in this schedule. Item No. ITEM List and describe fully UNIT VALUE ESTIMATED MARKEl'VALUE DEPARTMENT VALUATION (Do not write in this space) See Copy of Inventory Attached 1.Decedent held 85 shares of Suburban Lines, Incorporated,Common Stock in his individual name as Nominee or Trustee for Guttman Oil Gomp~~, a Corporation.Such Stock was purchased with funds provided by the Guttman Oil Company.Non-taxable ----v~ / Insert this total opposite "Personal Property",Schedule "B"in the "As Reported"column on the last page of this return. x X $2,T32,290.47f;.;(73 ~:A ro.*1 -::r~I r {. INVENTORY of all real and personal estate of LED DONALD GUTTMAN a/k/a LID D.GUTTMAN,Deceased, late of 165 Arlington Avenue,Speers Borough,Washington County,Pennsylvania. PERSONAL ESTATE SCHEDULE Cash Mellon National Bank and Trust Company .!J Checking Account #451-5896 ~~ Guttman Realty Company Salary payment for October,1971 Guttman Oil Company Salary payment for October,1971 Reimbursement for automobile expenses for October,1971 The Travelers Insurance Company Reimbursements for major medical expenses Bell Telephone Company of Pennsylvania .Refund of telephone charges previously paid Thrif-T Oil Company Reimbursement for overpayment of interest on personal loan for 1971 Hi-Fi Investment Club #2 Proceeds of proportional interest Guttman Petroleum Company Payment of share of proceeds of liquidation of Mandis Company Guttman Supply Company of Sharon,Pennsylvania First and Final liquidation payment Guttman Supply Company of Washington,Pennsylvania Share of Federal Income Tax Refund received as part of liquidation proceeds Stocks 'dJr/~$II 4,428•83.if,I.{.:).(.13 ~330.00 .3Jo.Oil I/';<(,:<s,0 f)2,625.00 ./'l5'o.Of)150.00 t/'A7J G.002,736.00 2.29 ~,'1.9 I 297.23 :J.17.~3 ..,280.17 ){0.17 "/. 2,481.73 /(J.{.1 J.7 -3 ./7'J.'"A It,,'A.7,326.12 ' 54.48 SJl..'if 4 shares Cities Service Company Common @ 44 1/4 177.00 /77.()D 83 1/4 shares First National Bank &.Trust Company of Washington,Pennsylvania Common @ 41 120 shares Global Development,Incorporated Common @ 6 .,720.00 7~DI Of) Stocks (continued) 1,000 shares Guttman Towing,Incorporated Capital @10.508 98 shares Texaco,Incorporated Capital @ 31 1/4 The following securities were covered by two Buy-Sell Agreements,both dated October 14,1969,between and among each of the respective companies,Howard S.Guttman and Leo D.Guttman.On February 1,1972,each of the companies elected to exercise their option under said Agreements to PUrchase their respective shares of stock owned by the Estate of Leo D.Guttman,Deceased.In accordance with the terms of the Agreements,the sale price for each of the companies'stock was based upon the net book value as of the close of the immediately preceding fiscal year,and such value was then increased by fifty per cent (50%). ,, 250 shares Guttman Realty Company Capital @ 2181.948 100 shares Gutbro Development Company .Capital @ 2002.82 . 50 shares Mercer Realty Company Capital @ 3380.72 . 100 shares Jesse B.Guttman Towboat, Capital @ 473.98 5 shares GBL-7,Incorporated Capital @ 3370.60 5 shares GBL-B,Incorporated Capital @ 4185.20 5 shares GBL-9,Incorporated Capital @ 2940.80 2 shares GBL-IO,Incorporated Capital @ 5040.00 100 shares Guttman Oil Company Capital @ 5673.99 50 shares Guttman Petroleum Company Capital @ 7536.36 5 shares Thrif-T Oil Company Capital @ 35,597.00 ........"'"~545,4}37.00 $/..I.-~1j..rZ - ('... ~'/200,282.00 Jop~(~.-~'I"jI,7 tJ 3"-C 169,036.00 Incorporated ~~47,398.00 J{.7,3J!~at ..16,853.00 /(1'.'[.3;--'~ ~~~o 7d.',-20,926.00 ~.".14,704.00 1If-7oJ/.,i - .,...10,080.00 ·'/~ot'f).- A)..".5(;~j11.-567,399.00 l e('376,818.00 37~1/Y.-' ~ 0('J77.,i5:---177,985.00 , 200 sha~es Guttman Supply Company Capital @ 535.81 10 shares Guttman Fuels,Incorporated Capital @ 818.60 107,162.00 ,/8,186.00 /O~/'I..,~ flf(,- ) ·" Stocks (continued) 50 shares Gutbro Barge Lines,Incorporated Capital @1485.34 50 shares Explorer Towboat,Incorporated Capital @1076.56 50 shares Express Towboat,Incorporated Capital @1071.92 50 shares Envoy Towboat,Incorporated Capital @1026.82 100 shares Martin G.Towboat,Incorporated . Capital @ 501.,46 10 shares Men Valley Terminal,Incorporated Capital @ 12,945.80 40 shares Men Valley Terminal,Incorporated Preferred @ 150.00 Bonds ,. ~'(\, \jc,. I $74,267.00 Y'7t.f ~(,7."() ~ ~'53,828.00 ""Ji3 f7.t:- ~. ~53,596.00'/\J'JSlG.- ~~~51,341.00 t ""~.3J1/.- 50,146.00'v -,k "if)l'l-~'- 6,000 .00 "&{}CJ t},- $1,000 p.v.Washington Trotting Association,, Incorporated,6 1/2%Subordinated Sinking FUnd Debenture Dated 9/1/69 due 9/1/77 @ 80 Interest from 9/1/71 to 10/23/71 Miscellaneous 800.00 ,/ 9.39 ./', Guttman Supply Company of Washington,Pennsylvania Liquidation Proceeds: Share of accounts receivable with interest @ 4%,unpaid balance as of 10/23/71 Interest from 10/6/71 to 10/23/71 REAL ESTATE SCHEDULE //J 9/'I-(~9 I ~:).j/'i I I $2,732,290.47 {/~J73~'"9f),1.~'"X<---I=====~j.I REAL ESTATE IN PENNSYLVANIA None MEMORANDUM OF REAL ESTATE OUTSIDE THE COMMONWEALTH OF PENNSYLVANIA None c'OMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDE:-IT DECEDENT SCHEDULE "c" TRAJ\)SFERS (1)Dirt rtecedent,within two years of death,make any transfer of any material part of his estate,without receiving a valuable and adequate consideration therefor?(Answer yes or no)yes (2)Did decertent,within two years of death,transfer property from himself to himself and another or others (including a spouse)in joint ownership?(Answer yes or no)no (3)If the answer to (1)or (2)above is in the affirmative state: (a)Age of decedent at time of transfer __ (b)State of decedent's heal th at time of making the transfer.(Note 1). (c)Cause of decedent's death.(Note 1). (4)Did decedent,in his lifetime,make any transfer of property without receiving a valuable or adequate consideration therefor which was to take effect in possession or enjoyment at or after his death? (Answer yes or no)~n~O __ (a)Was there any possibility that the property transferred might return to transferer or his estate or be subject to his power of disposition?(Answer yes or no)__~n~O~_ (b)What was the transferee's age at time of decedent's death?__ (5)Did decedent in his lifetime make any transfer without receiving a valuable and adequate consideration therefor under which transferor expressly or impliedly reserves for his life or any period which does not in fact end before his death: (a)The possession or enjoyment of or the right to income from the property transferred? (Answer yes or no)~n~o~__ (b)The right to designate the persons who shall possess or enjoy the property transferred or income therefrom?(Answer yes or no)no "(6)If the answer to (5)(b)above is in the affirmative,state whether the right was reserved in decedent alone or others _ (7)Did decedent in his lifetime make a transfer,the consideration for which was transferee's promise to pay income to or for the benefit of care of transferor?(Answer yes or no)~n==o _ (8)Did decedent,at any time,transfer property,the beneficial enjoyment of which was SUbject to change, because of a reserved power to alter,amend,or revoke,or which c01lld revert to decedent under terms of transfer or by operation of law?(Answer yes or no)no (9)If the answer to (8)above is in the affirmative,was the power to alter,amend,or revoke the inter- est of the beneficiary reserved in the decedent alone or the decedent and others? (Answer yes or no)__ NOTE 1:The answers to these questions should be supported by affidavit by the attending physician as well as a copy of the death certificate. NOTE 2:If answer to any of the above questions is yes,set forth below a description of the property transferred,it's fair market value at date of death,dates of transfers and to whom transferred,with relationship of'transf'erees to decedent,if'any. Submit copy of any trust deed or instrument,if trans-· f'ers are claimed to be non-taxable,also submit detailed statement of'f'acts on which said claim is based. NOTE 3:List applicable property below in manner in which provided in Schedules A,B,or E. ITEM DESCRIPTION See Attached Schedule MARKET VALUE (EsUmated) $0.00 DEPT.VALUATION (Dept.Only) Insert this total opposite "Transfers",Schedule "C"in the "As Reported"column on the last page of this return.$0.00 r ," SCHEDULE "C" TRANSFERS 1.Decedent was a participant in the Guttman Pension Trust,a non-contributory qualified plan under Internal Revenue Code Section 401(A).Benefits under the trust payable to Howard S.Guttman and The Union National Bank of Pittsburgh,Trustees under the Will of Leo D. Guttman,Deceased,total $145,000.00,consisting of Life Insurance of $135,715.14 and a direct cash payment from the Pension Trust of $9,284.86. 2.Pursuant to the terms of an employment contract between the decedent and Guttman Realty Company,the decedent's surviving spouse,as the designated beneficiary, received the following: 50%of decedent's monthly salary for a period of six months $3,000.00 Under the contract,the decedent could only designate the beneficiary,and thus,in effect,he possessed a general power of appointment.There was no transfer of any assets earned or accumulated by the decedent to his spouse • .1 Pursuant to the terms of an employment contract between...,:-~...~the decedent and Guttman Oil Company,the decedent's surviving spouse,as the designated beneficiary,received the following: 3.Lump sum death benefit $5,000.00 4.50%of decedent's monthly salary for a period of six months $15,000.00 Under the contract,the decedent could only designate the beneficiary,and thus,in effect he possessed a general power of appointment.There was no transfer of any assets earned or accumulated by the decedent to his spouse. 5.On August 1,1970,decedent made a gift to his son, Maury S.Guttman,consisting of a $22,000 face value demand note of the Guttman Supply Company due ~ugust 1, 1980,with interest @ 6%per annum payable semiannually. 6.On February 1,1971,decedent made a gift to his son, Maury S.Guttman,consisting of a $9,000 face value demand note of the GutbroDevelopment Company due August 1,1980,with interest @ 6%per annum payable semiannually. ~"Gifts described in Items 5 and 6 above were motivated by decedent's love and affection and his desire to maintain his son's demonstrated interest in the growth and success- ful continuation of the two companies'operations. 7.On September 16,1971,decedent purchased a 1972 Cadillac Convertible which was then_registered in the name of Margaret B.Guttman.*Funds contributed by decedent amounted to $5,034.64.It was the decedent's normal prac- tice for a number of years to purchase cars for his wife. These cars were necessary for her use in the operation of her interior decorating business. 8.On October 18,1971,decedent wrote a check in the amount of $13,000 payable to his wife Margaret B.Guttman,*to provide her with funds to be used for the payment of various household,living,and medical expenses. *a/k/a Marguerite B.Guttman Non-taxable Non-taxable Non-taxable Non-taxable Non-taxable Non-taxable Non-taxable Non-taxable $0.00 ~RC'C-3S .' CbMM0NW1\i\UH UF PENNSYLV,\NIA THAK:'FTH INHERITANCE TA\: n.r~IJWNT DECEDENT SCHEDULE "E" JOINTLY OWNED PROPERTY ., DSTRrCTIO!'S:This schedule must disclose all property,real ami personal,owned by the rlecedent jointly wi th another or others,including intangibles,standing in the name of the decedent and others.List real estate first,as entireties,or joint tenants,giving brief description,as indicated tmder Schedule "A",plus the date and place of record of instrument effecting vestiture,but do not include entireties or out of state real estate value in estate valuation column.Personal property should.be listed as in Schedule "B",plus date of acquisition,and the name,address and relationship (if any)of co-owners to the decedent. Description of Property,Date ~f-Acquisition,.N~me-l Uni t T-perce-nt~ge'" Address and Relationship of Co-Owners,and Place ;Value Share of Record of Instrument,where Real Estate.! Real Estate 1.Property situate 165 Arlington I Avenue,Speers Borough, Washington County,PennsylVania, improved with a four level split entry brick and frame dwelling with a two-car integral garage.$46,500.00 Stocks Estate Valuation DEPARTMENT VALUATION CAUTION-Do not Write In This Space. Value of Value of Entire Decedent's Property Interest 2.100 shares TEC,Incorporated common @ 3 13/16 (OTC) Miscellaneous I I 381.25 Items 1-4-above owned by decedent and '/~/~ Margaret B.Guttman*as Joint Tenants ,/I By The Entirety.,; IiI 1! 3.Guttman Federal Credit Union Account #17 -Cash payment of Savings Shares 4.Cuna Mutual Insurance Society - Life Savings Settlement on Item 3 above 1,165.32 628.63 I--I $48,675.20 I Non-taxa1::le \ II 1 I I II IIiIIII IIIIII II I *a/k/a Marguerite B.Guttman Insert this total opposite "Jointly Owned Property",Schedule"E"$0.00 in the "As Reported"column on the last page of this return. ~•... ,.... RCC"'37 .(12-63) COMMONWEALTH OF PENNSYYLANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "D" BENEFICIARIES s, BENEFICIARIES AND ADDRESSES RELATIONSHIP SURVIVED(If step-children or DATE INTEREST OFStatefullnamesandaddressesofallwhoillegitimatechildrenDECEDENTOFBENEFICIARYaveaninterest,vested,contingent or other-are involved,set STATE YES IN ESTATE wise,in estate)forth this fact.)OR NO BIRTH Mareuerite B.Guttman Wife Yes 12/31/13 Joint Pronertv-'l'rRYlsf'er: 16,Arlineton Avenue Life Estate in Trust Sneers Boroueh.Pennsvlvania 1502 D Mallrv S.Guttman Son Yes 6/10/38 Life Estate in Trust ~,O Lilian Drive Sharon.Pennsylvania 16146 ~ ,-.. • ·. 0,- . ·...·.. I -- ( h .Deponent further says that all the above-named beneficiaries are living at this time except below: NAME DATE OF DEATH RESIDENCE ---~.~ OF THE ~IATTER OF THE APPRAISEMENT ·ESTATE OF ..L.6Q.D.•Gu.ttman Deceased ~,; (Executor-Administrator " .'j.Imustcomplete"As 1Reported"column #1.)'.. :1II CJ ~~'i:l ~......Cll Cll00II:>...e:..j-I.::s '"'"0'"~~::s 'i:l,.;...j Cll e:.....;t-'...0II:>~'""0><'i:lII:>Cll0"'§...... (;).g,~ trl Cll:<0 ...,....'",p.."<,.... II:>hi,.... Cll ti II l.'~ 0':d.'<1) H<:+~ DJ THE !63-7l-l08~ No.Year ~ Will Administration Late of .Gharl.e.roi ,.,.. .,, Robert 'F.Patton,Esquire Buchanan,Ingersoll,Rodewald,Kyle &Buerger l~OO Oliver Building 'VP,·'O.~NO,'l~NIHS.VMP~ttsburgh,pennsylv~:I.f1lft-11fii31SI~3tj , ONPJ1H 113SSm~ REPORT AND APPRAISAL Common\\'ealth of Penns}'lvania ~-,, County of WEif3hi:ngt.C>!l . ..~... / enc:::~~II ]1 :>~~.........-......-......0-<:........W'en en.(/)n:0 ?"'~?"',- :~::>:~Q t:lq............~ ,--- -00 '*-00 ~'*'*:10 N....:-....J ;..,J :>~\.tJ '":l\)N ~~..--:l\)N Cll_ '-0 '0 ~,'g~:0 '0 0 o ...,~:.:-8~•c.:~0 o c...:-oJ 0 ,-....J o ~ I a'·]'-"1"·,,1':J I .:J!:"'. ~IL __,~..__ B2 II }IV l2 lfif'2L.-00-00-00-00-00-00 :> '"~~~c.:tv3~ II :;.c.:•c...•_I'i~• I~j RCC-81 (6-71) COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS HARRISBURG 17127 NOTICE OF FILING OF APPRAISEMENT HOWARD s.aUlTMAN (Executor or Administrator) ,IN YOUR REPLY PLEASE REFER TO Inheritance Tax Division J In Re:Estate of _W_A_SH_I_f_iG_TO_I_,County -File No.6)-71-lO82 Dear §~Jh ,01UGINALYouareherebynotifiedthatthe•.'.',.,1 •~ appraisement in the estate of .u.o l)(Jt1A~,D (,ll 1'l~N i/1!C.. has been filed in t';i oHi ce of the Re~ter of Wi II s of ~,A5fllr.("l(jN County on .roLl 0,, ,19_,Said appraisement reflects the following valuations: ReaI Estate-------;;2h,9'71~2J.::,c9290gJ,.::-J~,J'.)'f..-Personal Property ~_ Transfers _ J0 inti y Owned -----~lI)--I!M.fJ~4AA8A_+'!..t_-Toto I 2_,_."_2_,._;i7ii_,_._U_,i_ As to such tax that is paid within three months from date of death,a five (5%) p~rcent discount is allowable.As t~any tax that remains unpaid after nine (9)months (fifteen months when death occurred fr'om December 22,1965 to June 16,1971,inclusive; and twelve months when death occurred prior to December 22,1965)from date of death, interest at the rate of six (6%)percent per annum is charged. Any party in interest who is aggrieved by an appraisement may appeal therefrom as provided by law. DATE OP IlEATlh OCTOBER 23,1m Note:This is not a bill. by the Secretary of Revenue.$L-_ ~, J.t SUMMARY DATE OF DEATH 10-23-71 FILE NO.63-71-1082 al) ORT OF INHERITANCE TAX APPRAISER tance Tax Appraiser in and for the County of WASHINGTON , ve appraised the real and personal property as reported in the foregoing return at last column to the right in Schedules "A","B", "C",and "E". FRED TOSI 1YL INHERITANCE TAX APPRAISER EPORT OF THE REGISTER OF WILLS r of Wills in and for WASHINGTON County,Pennsylvania,do respect- the amountS claimed by deponent,except as to those items where a greater or o the right in Schedule "F",which greater or lesser amount represents the sum REGISTER OF WILLS UE AS REPORTED,VALUE AS APPRAISED VALUE AS REAPPRAISED 2,732',1·4.7i $$ 2.732),290.1.7 2,,732,290 •1+.7 2,7)2',290•47 none none , 2,,732~Z9C •14.7 2.732.290•~'7 t=t=L=" COMPUTATION OF TAX $ $ $ $ $ (*)As evidenced by Charitable Exemption Certificates issued $- $- TOTAL TAX FOR USE OF REGISTER ONLY Tax on $-+-__2% Tax on $---------+---(6%)0 Tax on $---------+---~ Tax on $10% Tax on $15% Exemptions * Total Estate -1--_ ESTATE TAX ASSESSMENTS annuities . Valuation of life estates or Dated:_ INVENTORY VAL Real Property (Schedule A)$ _ Personal Property (Schedule B) Transfers (Schedule C) Joint -Held Property (Schedule E) TOTAL GROSS ASSETS Less Debts and Deductions (SCHEDULE F) / CLEAR VALUE OF ESTATE '.I R RCC.3~($0;68) COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT REP I,the undersigned duly elected Registe fully report that I have allowed deductions in lesser amount is set forth in the last column t allowed as a deduction. Dated:JULY 10.197)· I,the undersigned duly appointed Inheri Pennsylvania,do respectfully report that I ha the values set forth opposite each item in the Estate of GUTTMAN.LEO DONAlD (Last Name)(First Name)(Initi Less tax previously paid BALANCE Less 5%of tax if paid within 3 months after death ::::::::::!::t==, BALANCE OF INHERITANCE TAX DUE $L Add interest at rate of 6%from _____to $-----.....1 AMOUNT OF ESTATE TAX ASSESSED $----~L- Estate tax paid $.....IL- BALANCE DUE $---------.....I~ Add interest at rate of 6%from t=. ------lto-----$------'----1 TOTAL TAX BALANCE $----------I PAID $--1 FOR USE OF REGISTER ONLY ADJUSTMENTS NOTE:Where subsequent adjustments are made to the above computation of tax by the Register of Wills,for proper reason, same should be noted below,with short explanation. Wdill ,.l No.,.....A ministration \ IN THE Year . MATTER OF THE APPRAISEMENT OF THE ESTATE OF Leo'Donald iuttman ...... Deceased Late of . County of SPEERS BOROUGH WASHINGTON Commonwealth of Pennsylvania REPORT AND APPRAlSAL ..< I I ___________________1 Form-RCC-2 Q ""....; DEPARTMENT OF REVENUE BUREAU'(s)COUNTY COLLECTIONS. HARRISBURG.PENNA.17 12 7 COMMONWEALTH OF PENNSYLVANIA RESIDENT INHERITANCE TAX APPRAISEMENT DATE J.ULl 1Q,197J .. COUNTY ~A§.~.~.N.g!9..N.__. nLE NO 6J..~7.1p.1082.:__.. Whereas,.LE.O .D.QNALD.GUT.TMAN late of SPEERS BOROlJGH .. in the County of ~~$.~.+.N9.'='.Q~Commonwealth of Pennsylvania,having died on the 43,W day of 'OC.TOBER 19..71...,seized and possessed of an estate subject to Inheritance Tax under the laws of the Commonwealth of Pennsylvania; Therefore,I,FRED T.OSI ,an appraiser duly appointed according to law, having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future interest in this estate is transferred In possession or enjoyment to collateral heirs of the decedent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer inheritance taxes at the lawful collateral rate on any such future interest. : Unit ApprallementDelcrlptlonofAlletValuelMadeforInherltance Tax Purpol81 PERSONAL $ SEE SCHEDUIE "B"OF APPRAISEMENT 2.71.?>?on IlL7 . .. ... ... , Having been duly sworn according.to law,I do hereby cer~ify that the above appraisement is made in con- formity with law on this ...................j.{......Z:i6....................day of ...............................,....!.:!.--?t..........~.........................v."............:........................19···7.3..· ................~:...:..........0 ..........:...~:...{:L····..·~"~e.G:..·:·..·......·/yA:ff;;~·..·)..··.i~b'l::i:,'';;;'i~f(',...2C}I.t1t:.' .............................................~···f....·~~·'·o~i·'.'7..~~J"·..·l.....·.......··.......,Pe na. WASHINGTON County , " RESIDENT INHERITANCE TAX APPRAISEMENT Estate of LEO DONALD GUTTMAN Deceased. Late of SPEERS Date of Death,.QGJ'.Q~~,l.m . Appraisemellt Docket Vol...~8-,. Page,~9.~No 9.3,~71.~lOS'Z.. Filed in Register's Office,..J.~..JQ."19 73.. Amount of tax due,$. DEPARTMENT OF REVENUE Received, Examined and Approved,.. Wrote abo.ut Appraisement, Appeal f"om Appraisement,.. Entered and charged,..1 " POST OFFICE BOX No.837 j ,Deceased November 18,1974 PITTSBURGH,PA.15230 Mr.Russell Marino Register of Wills of Washington County Court House Washington,Pennsylvania 15301 In re:Estate of...-!iEfo·-".Gut File •63-71-1082 Dear Mr.Marino: TRUST DEPARTMENT Enclosed is our check in the amount of $585.72 being balance of $513.79 due on Pennsylvania Transfer Inheritance Tax and $71.93 interest from July 23,1972 to November 23,1974. Also enclosed for filing for the above captioned Estate is the original and one copy of the Statement of Debts and Deductions Form RCC-10. Very truly yours, !a'7;~~:~-1 Vice President TJH/CWR/jr Enclosures cc:Robert F.Patton,Esquire A09240002 -------_._--~--------------------------------------- DETACH AND RETAIN THIS PORTION FOR YOUR RECORDS Alc NAME Alc No. Leo D.Guttnian A09240002 DATE No.056931 111874 REMITTANCE AMOUNT TAX CODE FOR r RUSSELL MARINO,AGENT Balance of Pennsylvania Transfer Inheritance Tax Interest from 7-23-72 to 11-23-74 INCOME 71.93 513.79 71.93 585.72 PRINCIPAL 513.79 THE UNION NATIONAL BANK OF PITTSBURGH I ',""on,,,mow,""~Form RC C',lO ".'.,, :..,OFFICE OF THE STATEMENT OF DEBTS THE SUM OF ............$('t.f'j1L".~Y r lmL.1 ~1974ltUSSELl MARlliO~REGISTER OF WILLS DEDUCTIONSAND OF l'1A~l COUNTY "M~:····_~~ AND AGENT OF THE CO...MONWIiiALTH '-At.-"~.-~b~-'I J -l b ~7,,Reglaler 01'Wills,Age~t ESTATE OF Leo D.Gut't.!nan.,Deceased L"'TE OF Spears Borgueh,~le.ahington Count,., PennG11van1a DATE OF FILING APPR...ISEMENT D"'T&:OF DEATH October 23,1971 D"'TI!!:NO.OF NA"'''OF PAYEE RE......RKS AMOUNTVOUCHS;III See attnehed schedulo ~ 1..."'/,-.,C,/).....,.-,..:j Ll...-.,- ",.'-~~.......,"1-r:-,..1/.':'::';;;.(,) :'::1 -i~. -->: It'0';.... .--1 '-_I '.. ....J '--" .--1 (l'~....~';.:-J (I)::::~----r ----- !I .::::f-C;"I.)V)--....;;;: '''''..........1-0;:;;;~ - Total 14$,471 59 COMMONWEAL.TH OF PENNSYLVANIA } AIJ.rxmENY S8: COUNTY OF j .id THE UNION NATIONA!.BANK OF PI'rl'SDURGHI,Thomas J.Hickeyt Vioe ."-'res ent ot ..HEREBY CERTIFY,THAT.TO THE BEaT OF NY KNOWLI!!:OGE AND BELIEF,THI!!:FOREGOING IS A JUSUND TRUd\tirATEMENT OF DEBTS,FUNERAL EXPENSES "'ND EXPENSES 0'"-'ADMINISTRATION SUBMITTED TO THE EST...TE OF 0 D..tmt:u:i DECEASED.AS DEOUCTIONli FOR INHERITANCE TAX PURPOSES.Thomas HickeyJ. (L.5.) SWOW AND ~UBSCRleED BEFORE ME THIS 74 15th DAY Of"Vice Preo1dentovemer Margaret w.Bauman Noiart l'ublic Pittsburgh,Allegheny County My Commission Expires Jan.31,1977 •'I STATEMENT OF DEBTS AND DEDUCTIONS Estate of LEO D.GUTTMAN,Deceased 1 9 7 2 Feb.4 1 9 7 1 Nov.2 Nov.26 Dec.9 1 9 7 2 Margaret B.Guttman,surviving spouse Guy A.Rodgers . Reimbursement for trip to Pittsburgh to probate Will of Leo D.Guttman Register of Wills of Washington County,Pennsylvania Cost of Probating Will,Grant of Letters Testamentary,12 Short Certificates and 6 extra pages of Will The Valley Independent Advertising Grant of Letters Testamentary .Clerk of Orphans'Court of Washington County, Pennsylvania Cost of filing Acceptance of Trust $1,500.00 ,/ 25.00 27.50 12.75 3.00 Jan.26 Register of Wills of Washington County,Pennsylvania Cost of 3 Short Certificates Feb.1 Transfer charge on $1,000 Washington Trotting Association,Incorporated 6 1/2%Bond April 7 G.Herschel Fetherlin Appraisal fee in re property situate 165 Arlington Avenue,Speers Borough,Pennsylvania April 25 Epstein,Tabor and Schorr Payment for accounting services rendered thru 3-31-72 June 5 Register of Wills of Washington County,Pennsylvania Cost of Certified Copy of Will 3.00 3.00 75.00 2,500.00 10.50 July 14 Donald L.Dawson Reimbursement for cost of Filing Inventory Balance due on Grant of Letters Testamentary ~'v,o.uu 20.00 28.00 Aug.1 Insurance Company of North America Payment for affidavit of Loss and Indemnity Agreement for 95 shares of Texaco,Incorporated Stock 93.00 Less refund on replacement ------..----.of -23·shares found 10.50 82.50 " 19 7 2 Aug.3 Mellon National Bank and Trust Company Satisfaction fee on jointly owned MOrtgage Loan, No.60642 -0841 of Leo D.Guttman and Margaret B.Guttman 6.00 Less reimbursement from Margaret B.Guttman 3.00 3.00 Sept.27 Register of Wills of Washington County,Pennsylvania Cost of Short Certificate 1.00 4 Oct.25 Alexander Agency,Incorporated Cost of Surety Bond for replacement certificate on 10 shares Three Rivers Bank and Trust Company,Common Stock 22.00 1 9 7 ;3 Jan.2 Register of Wills of Washington County,Penn~ylvania Cost of Short Certificate 1.00 Jan.30 Buchanan,Ingersoll,Rodewald,Kyle and Buerger Payment for miscellaneous administration expenses (Photocopies,transcripts and traveling expenses)33.10 •May 4 David J.Wack Appraisal fee for household effects 65.00 1 9 7 4 Feb.27 Washington County Reports Advertising Grant of Letters Testamentary 16.00 Oct.21 Register of Wills of Washington County,Pennsylvania Cost of filing First and Final Account 1,468.89 Buchanan,Ingersoll,Rodewald,Kyle and Buerger Attorneys'fee On account 12-21-72 13,000.00 On account 12-27-73 12,000.00 Balance 10-21-74 14,800.00 39,800.00 The Union National Bank of Pittsburgh Accountant's compensation On account 12-21-72 ,.,,.,,,,,,,"""-"-,vvv.vv On account 12-27-73 23,000.00 Balance 10-21-74 25,000.00 70,000.00 Expenses in re sale of securities 77.10 1 9 7 1 Dec.16 Dr.Jack D.Myers Balance due for professional services ....._---.-,f Statement dated 11-3-71 39.00 2 1 9 7 1 Dec.31 1 9 7 2 Jan.6 March 9 March 13 Sept.13 1 973 Jan.24 Feb.27 1 9 7 1 Payment of professional services rendered - Statement dated 12-14-71 .110.00 Less amount covered by insurance 108.00 Ferguson Funeral Home Funeral expenses McShane Florist and Greenhouse Funeral flowers Charleroi-Monessen Hospital Payment in full for hospital charges Joseph J.Buch,M.D. Professional services 10-27 to 10-23-71 Kurtz Memorial Company Payment for Rock of Ages Memorial Leroy Stanley Lanscaping expenses for cemetery lot Reimbursement for purchase of 200 Blue Juniper Shrubs placed on cemetery lot 2.00 3,916.00 62.95 t/ 145.50 ., 55.00 ' ./1,397.00 126.00 >/ 836.64 >/ Nov.30 Margaret Bennett Tax Collector Speers Borough Real Estate Taxes 1971 Borough 5%Penalty 1971 School 5%Penalty 120.82 6.04 535.00 26.75 126.86 " 561.75 " Washington County Tax Claim Bureau 1970 Real Estate Tax 162.63 10%Penalty 16.26 Interest 9.76 Additional cost of notice 4.00 Malcolm L.1·1organ,County Treasurer 1971 County Real Estate Tax 162.63 10%Penalty 16.26 Sun Paint and Tile Centers Payment in full -statement dated 10-25-71 Henry B.Klein Company Merchandise :3 192.65 V" 178.89 ". 164.19 or 682.00 ~ ,-,~~~,,,,,,,,,,,,,~,--,-,---,,-_-_.-_--=--==_-.~-_-_.-_.-_-_.,_..._,..-_-_-...:.......=-..:.:.....:......----=.-...:....'"...:.....,,:,:,-...:,,_....:.....-:,,:,,_...:.......l!:.=J 5,000.00 "'''"',..,17.I I • •...,j' 1 9 7 1 Nov.30 Dec.8 1 9 7 2 Jan.5 Feb.10 Feb.17 Feb.22 April 17 May 12 July 14 .~. Millers Merchandise -statement dated 9-10-71 Nemacolin Country Club 'Charges for September,October and November,1971 West Penn Power Company Electric service to 10-29-71 Margaret B.Guttman Reimbursement for funds advanced for payment of lawn.care of residence property 6-6-71 -11-9-71 Columbia Gas of Pennsylvania,Incorporated Gas service -budget payment for October,1971 Guttman Oil Company Oil purchased for residence property 'l'hrif-T Oil Company Guttman Supply Company -repayment of cash advanced to decedent 105.74 ~ Guttman Petroleum Company Repayment of loan principal 30.93 Guttman Realty Company To correct error in the asset distribution of Guttman ConstructionCom~160.56 ~ Maury S.Guttman Reimbursement representing interest paid in error to Leo Guttman Estate from 8-1-70 to 1-31-71 on various Guttman Supply Company Notes owned by Maury S.Guttman Mellon National Bank and Trust Company $5,000 Demand Note of Leo D.Guttman dated 9-16-71 Principal ......I •..4"'..4 ,..,........""''''n ...Ln~eres~IV-I-II IV-~J-/I Internal Revenue Service Addi tional payment of 1971 Individual Income Tax under automatic extension Pennsylvania Department of Revenue 1971 Pennsylvania Individual Income Tax Guttman Oil Company Payment I in full of loan made to Leo D.Guttman 4 413.27 ., 236.49 .,. 26.89 ., 115·00 ., 27.00 " 298.92 .;' 297.23 660.00 v ~5,019.17 .,/2,034.00 .73.00 " .".2,220.00 ,..,"....,.lIt.;.-....... .,..:..., 2,429.87 1,409.30 3,839.17 35.71 17,732.38. 65.78 17,798.16 1 972 July 14 Guttman Petroleum Company Payment of loan made to decedent Principal 2-10-72 7-24-72 Interest 8-1-71 -10-23-71 Mellon National Bank and Trust Company Payments of Principal on jointly owned Mortgage Loan NO.60642-0871 ·10-1-71 -8-31-72 'Interest 10-1-71 -10-23-71 Less funds received from .&rgaret B.Guttman representing 1/2 share payment of jointly owned mortgage 8,866.19 Total 3,874.88 ~ 8,931 .97 v $148,471.59 U::l L..rJ :f)<:C:J ...J n.-•,Jo'_._j :....-0.......~,C>.r_...,OL~~.l.,.:.:---:","-".....# -~en,JJ _...1 ..~.....~ r-'-Z(/),r-:':--l ."\...,;X,c:::J v, ,~=.::-'0 (f) ~-C:L.:.J -<.:::r c::::;....,.,r---~.. ~., Form ,Re c,10 .~I 11-1 g'/n/"'sf"owm"7 iOFFICEOFTHESTATEMENTOFDEBTS~UM OF "'~""',..$(~,g'"~.',,, REGISTER OF WILLS AND DEDUCTIONS /"¥T~l~R1E~~~?~W~~E~"~~.~~~~..WASHINGTONOF COUNTY "~...t:"...... AND AGENT OF THE COMMONWEALTH I,~II uJ.'""'~~~'7 [,/bR'A ~Aeglster of Wills,Ag.~t .- Leo D.Guttman,Deceased LATE OF Speers Borough,Washington County,ESTATE OF Pennsylvania DATE OF FILING APPRAISEMENT OATS OF DEATH October 23.1971 DATI!:NO.OF NAME OF PAYEE REMARKS AMOUNTVOUCH"''' See attached schedule c.D ,')~.......'C)_J 0.... :..::.......J-'",.-r1---..-"~C,) :~'".,'~-~J_~...,.. ~,~".. (~._'. W-,.-J.~ :•!:....-.r--.. ':..::,{f):::.--•-..,.j;(()...... (:-'l ~<...:-(.}J.-_:j..t:.:0:::u...l -d.Y--'"~ M.......fl-'.l .... - Total 148,471 59 COMMONWEALTH OF PENNSYLVANIA COUNTY OF .ALLEGHENY }SII: ..'THE UNION NATIONAL BANK OF PITTSBURGHI,Thomas J.Hickey,Vlce Presldent of ..HEREBY CERTIFY.THAT.TO THE BE.r OF MY KNOWLI!:DGE AND BELIE:",THI!FOREGOING IS A JUST AND TRU E STATEMENT OF DEBTS,FUNERAL EXPENSES AND EXPENSD 0.- ACMINISTRATION SUBMITTED TO THE EST"TE OF Leo D.Guttman DECEASED,AS DECUCTIONIO FOR INHERITANCE TAX PURPOSES.ih.AT~JO fl-jrJ~bAi5"-t~-(L.5.) SWORN AND SUBSCRIBED BEFORE ME THIS DAY 01"(j Vice pt'esident-~~'"!1.!l-Notary Public MAIIGARET w.BAUMAN.NOTARY PUBLIC - HllSBURGH,ALLEGHENY COUNTY MY COMMISSION EXPIRES JAN.31,1977 Member,PennsVlvanlaAssoclationof NotarIes STATEMENT OF DEBTS AND DEDUCTIONS Estate of LEO D.GUTTMAN,Deceased 1 972 Feb.4 1 9 7 1 Nov.2 Nov.26 Dec.9 1 972 Margaret B.Guttman,surviving spouse Guy A.Rodgers Reimbursement for trip to Pittsburgh to probate Will of Leo D.Guttman Register of Wills of Washington County,Pennsylvania Cost of Probating Will,Grant of Letters Testamentary,12 Short Certificates and 6 extra pages of Will The Valley Independent Advertising Grant of Letters Testamentary .Clerk of Orphans'Court of Washington County, Pennsylvania Cost of filing Acceptance of Trust '. $1,500.00 25.00 27.50 12.75 3.00 Jan.26 Register of Wills of Washington County,Pennsylvania Cost of 3 Short Certificates Feb.1 Transfer charge on $1,000 Washington Trotting Association,Incorporated 6 1/2%Bond April 7 G.Herschel Fetherlin Appraisal fee in re property situate 165 Arlington Avenue,Speers Borough,Pennsylvania April 25 Epstein,Tabor and Schorr Payment for accounting services rendered thru 3-31-72 June 5 Register of Wills of Washington County,Pennsylvania Cost of Certified Copy of Will 3.00 3.00 75.00 2,500.00 10.50 July 14 Donald L.Dawson Reimbursement for cost of Filing Inventory Balance due on Grant of Letters Testamentary S.oo 20.00 2S.00 Aug.1 Insurance Company of North America Payment for affidavit of Loss and Indemnity Agreement for 95 shares of Texaco,Incorporated Stock 93.00 Less refund on replacement of 23 shares found 10.50 82.50 1 97 2 Aug.3 Sept.27 Oct.25 1 973 Jan.2 Jan.30 May 4 .1 9 7 4 Feb.27 Oct.21 Mellon National Bank and Trust Company Satisfaction fee on jointly owned Mortgage Loan, _No.60642 -0841 of Leo D.Guttman and Margaret-B.Guttman 6.00 Less reimbursement from Margaret B.Guttman 3.00 Register of Wills of Washington County,Pennsylvania Cost of Short Certificate Alexander Agency,Incorporated Cost of Surety Bond for replacement certificate on 10 shares Three Rivers Bank and Trust Company,Common Stock Register of-Wills of Washington County,Pennsylvania Cost of Short Certificate Buchanan,Ingersoll,Rodewald,Kyle and Buerger Payment for miscellaneous administration expenses (Photocopies,transcripts and traveling expenses) David J.Wack Appraisal fee for household effects Washington County Reports Advertising Grant of Letters Testamentary Register of Wills of Washington County,Pennsylvania Cost of filing First and Final Account 3.00 1.00 22.00 1.00 33.10 65.00 16.00 1,468.89 Buchanan,Ingersoll,Rodewald, Attorneys'fee On account 12-21-72 On account 12-27-73 Balance 10-21-74 Kyle and Buerger 13,000.00 12,000.00 14,800.00 39,800.00 ,.,,.,,,,,n ""I:.t::.,vvv.vv 23,000.00 25,000.00 1 9 7 1 Dec.16 The Union National Bank of Pittsburgh Accountant's compensation On account 12-21-72 On actount 12-27-73 Balance 10-21-74 Expenses in re sale of securities Dr.Jack D.MYers Balance due for professional services - statement dated 11-3-71 2 70,000.00 77.10 39.00 '\~, 1 9 7 1 Dec.31 1 972 Jan.6 March 9 March 13 Sept.13 197 3 Jan.24 Feb.27 1 9 7 1 Payment of professional services rendered ~ Statement dated 12-14-71 110.00 Less amount covered by insurance 108.00 Ferguson Funeral Home Funeral expenses McShane Florist and Greenhouse Funeral flowers Charleroi-Monessen Hospital Payment in full for hospital charges Joseph J.Buch,M.D. Professional services 10-27 to 10-23-71 Kurtz Memorial Company Payment for Rock of Ages Memorial Leroy Stanley Lanscaping expenses for cemetery lot , Reimbursement for purchase of 200 Blue Juniper Shrubs placed on cemetery lot 2.00 3,916.00 62.95 145.50 55.00 1,397.00 126.00 836.64 Nov.30 Margaret Bennett Tax Collector Speers Borough Real Estate Taxes 1971 Borough 5%Penalty 1971 School 5%Penalty 120.82 6.04 535.00 26.75 126.86 561.75 Washington County Tax Claim Bureau 1970 Real Estate Tax 162.63 10%Penalty 16.26 Interest 9.76 Additional cost of notice 4.00 Malcolm L.Morgan,County Treasurer 1971 County Real Estate Tax .162.63 10%Penalty 16.26 Sun Paint and Tile Centers Payment in full -statement dated 10-25-71 Henry B.Klein Company Merchandise 192.65 178.89 164.19 682.00 3 ..•-~T"'"..--••,,~..........-.-....-__',~_.__...~_.,-~....', 1 9 7 1 ------------------------------------ Nov.30 Dec.8 1 972 Jan.5 Feb.10 Millers Merchandise -statement dated 9~10-71 Nemacolin Country Club Charges for September,October and November,1971 West Penn Power Company Electric service to 10-29-71 Margaret B.Guttman Reimbursement for funds advanced for payment of lawn care of residence property 6-6-71 -'11-9-71 Columbia Gas of Pennsylvania,Incorporated Gas service-budget payment for October,1971 Guttman Oil Company Oil purchased for residence property Thrif-T Oil Company Guttman Supply Company -repayment of cash advanced to decedent 105.74 413.27 236.49 26.89 115·00 27.00 298.92 Guttman Petroleum Company Repayment of loan principal 30.93 5,000.00 "'1"\"'N17.1 ( Feb.17 Feb.22 April 17 May 12 July 14 Guttman Realty Company To correct error in the asset distribution of Guttman Construction Company 160.56 Maury S.Guttman Reimbursement representing interest paid in error to Leo Guttman Estate from 8-1-70 to 1-31-71 on various Guttman Supply Company Notes owned by Maury S.Guttman Mellon National Bank and Trust Company $5,000 Demand Note of Leo D.Guttman dated 9-16-71 Principal ....t 1 ,...'"...,...,......"""""n ....~~eres~IU-I-/I IU-~~-/I Internal Revenue Se~rice ,Additional payment of 1971 Individual Income Tax under automatic extension Pennsylvania Department of Revenue 1971 Pe~sylvania Individual Income Tax Guttman Oil Company Payment 1in full of loan made to Leo D.Guttman 4 297.23 660.00 5,019.17 2,034.00 73.00 2,220.00 2,429.87 1,409·30 3,839.17 35.71 17,732.38 65.78 17,798.16 •.'('•'I 1 9 7 2 July 14 Guttman Petroleum Company Payment of loan made to decedent Principal 2-10-72 7-24-72 Interest 8-1-71 -10-23-71 Mellon National Bank and Trust Company Payments of Principal on jointly owned Mortgage Loan NO.60642-0871 ·10-1-71 -8-31-72 Interest 10-1-71 -10-23-71 Less funds received from ¥~garet B.Guttman representing 1/2 share payment of jointly owned mortgage 8,866.19 Total 5 3,874.88 8,931.97 $148,471.59 ,. --'j TENTATIVE STATEMENT PENNSYLVANIA TRANSFER INHERITANCE TAX j ~9t4 ~.t:l .Date __...~1:0:.:.!..lJtl~: To ____~._..;::;:(..~:i!-#i ~t:..z ¥.,/.?i_:~ ......~~i:~. ~::.~~~~_~~~.._~.~.d,l_L.f..Z./..__. (3) ~~~~aised iil~.~d.K:::.~t.:..2..~...!~t~.~~..d ..::..Z//(l...l.:-0 Real Estate Personal Property Joint Accounts ,. Less Exemptions Less Debts and Administration Expenses . TAXABLE AMOUNT TAX on @ %................................................~~07 TAX on @ tz %~~L..~.~(€.£if.. Amount Previously Paid S/~07............................................................ 7/.cs-........¢. BALANCE DUE COMMONWEALTH £r~7.~ TAX BALANCE Interest from z..:.i?::!..~Ze::t to ~~" . .....~%on sS:L..L9..z . DISCOUNT (5%)IF PAID WITHIN THREE MONTHS FROM DATE/9F DE1\P'I. ~..s-g...s-,7 LJ ~/~/f7~ PAYABLE TO: REGISTER OF WILLS WASHINGTON COUNTY COURT HOUSE WASHINGTON,PENNSYLVANIA _.__..~_.~. Register of Wills and Agent for Commonwealth of Pennsylvania. ,,-.'-.... Rcc-a1 (6-73) COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS HARRISBURG 17127 NOTICE OF FILING or APPRAISEMENT IN YOUR REPLY PLEASE REFER TO 38-219-1 Inheritance Tax Division J HOWARD S.GUTTMAN &UNION NATIONAL BANK OF PITTSBURGH (Executor ~ltW)X In Re:Estate of _--=L::::E::..::1O:.........::::D~.~GU.:::..:T::....:T~M~A=.::.N~a~/~kl-la~--,. __\=vA"-,,,S~H,-,,-=I!:."'-N~JG~T~O±.!.N__County -File No.63-71-1082 Dear Sir: You are hereby notified that the Life Estate appraisement in the estate of Leo D.Guttman a/k/a has been fi led in the office of the Register of Wi lis of 'Wash;ngton County on December 5 ,192..4.,Said appraisement reflects the following valuations: Life Est.~~.x:W,---9~0~84,-=-91",=1",,-,.~0~1,--__ Personal Property _ Transfers _ Jointly Owned _ TotaI --'9,u0.u.8.Lj,~9!.101...Ll......~O'-l.1--_ As to such tax that is paid within three months from date of death,a five (5%) percent discount is allowable.As to any tax that remains unpaid after nine (9)months (fifteen months when death occurred from December 22,1965 to June 16,1971,inclusive; and twelve months when death occurred prior to December 22,1965)from date of death, interest at the rate of six (6%)percent per annum is charged. Any party in interest who is aggrieved by this notice may object thereto within sixty days after receipt of said notice as provided by Section 10,1 of the Inheritance and Estate Tax Act of 1961,72 P.S.2485-1001,P.L.373.'/~ Date Dec ember 5,1974 Signed __~=-----'='-'====----'=<=_~~=--.:.J..~~ ~~Titl e __---=C--=.:H:..=I=E=-F---..:A:.:::P=--.:P::....:R:.::A:=,:I::.::S:..::E::::.R-=-_ DATE OF DEATH:October 23,1971 Note:This is not a bill. ---------------------------------------------" ,.- RCC-39 (5-68) COMMONWEALTH Of PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT LIFE ESTATE SUMMARY Estate of GUTTMAN,LEO (Last Name)(First Name) D. (Initial) a/k/a DATE OF DEATH 10-23-71 FILE NO.63-71-1082 REPORT OF INHERITANCE TAX APPRAISER I,the undersigned duly appointed Inheritance Tax Appraiser in and for the County of '''ashington Pennsylvania,do respectfully report that I have appraised the real and personal property as reported in the foregoing return at the values set forth opposite each item in the last column to the right in Schedules '~","B","C",and "E". Dated:December 5,1974 INHERITANCE TAX APPRAISER REPORT OF THE REGISTER OF WILLS I,the undersigned duly elected Register of Wills in and for County,Pennsylvania,do respect- fully report that I have allowed deductions in the amounts claimed by deponent,except as to those items where a greater or lesser amount is set forth in the last column to the right in Schedule "F",which greater or lesser amount represents the sum allowed as a deduction. Dated:_ REGISTER OF WILLS INVENTORY Real Property (Schedule A) Personal Property (Schedule B) Transfers (Schedule C) Joint-Held Property (Schedule E) TOTAL GROSS ASSETS Less Debts and Deductions (SCHEDULE F) CLEAR VALUE OF ESTATE VALUE AS REPORTED VALUE AS APPRAISED VALUE AS REAPPRAISED $$$-------1-- Valuation of life estates «XX~~..................$-9~O~8~,...:=..9=.;11~r_ ESTATE TAX ASSESSMENTS $C -t= FOR USE OF REGISTER ONLY Tax on $-+__~\ Taxon $~ Tax on $5% Tax on $10% Tax on $15% Exemptions * Total Estate ----JI--_ TOTAL TAX COMPUTATION OF TAX $-------1--- $-------4-- $-------4-- $-------l--- $-------+.-- $---JI.-.._ (*)As evidenced by Charitable Exemption Certificates issued by the Secretary of Revenue. Less tax previously paid BALANCE Less 5%of tax if paid within 3 months after death ::::::::::::t== BALANCE OF INHERITANCE TAX DUE $t= Add interest at rate of 6%fro~_____to $......J AMOUNT OF ESTATE TAX ASSESSED $------IL-- Estate tax paid $--IL- BALANCE DUE $---_--Il- Add interest at rate of 6%from t= -------tto-----$-------1. TOTAL TAX BALANCE $----~PAID $.....1 FOR USE OF REGISTER ONLY ADJUSTMENTS NOTE:Where subsequent adjustments are made to the above computation of tax by the Register of Wills,for proper reason, same should be noted below,with short explanation. Will { Administration \No. IN THE Year . MATTER OF THE APPRAISEMENT OF THE ESTATE OF LEOD.GUTTMAN Deceased Late of SPEERS.BOROUGH . County of \vASHINGTON Commonwealth of Pennsylvania REPORT AND APPRAISAL ~-~ RCC-2 (2-64)December 5,1974COMMONWEALTHOFPENNSYLVANIADATE DEPARTMENT OF ·REVENUE RESIDENT INHERITANCE TAX COUNTY vlashington, BUREAU OF COUNTY COLLECTIONS HARRISBURG,PENNA,17127 APPRAISEMENT FILE NO.63-71-1082, - Whereas,Leo D.Guttman late of Speers Borough in the County of Washington Commonwealth of Pennsylvania,having died on the ..23rd day of October ..--_..,19 71,seized and possessed of an estate subject to Inheritance Tax under the laws of the Commonwealth of Pennsylvania; Therefore,I,Frances Leo -j an appraiser duly appointed according to law, having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future interest in this estate is transferred in possession or enjoyment to collateral heirs of the decedent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer inheritance taxes at the lawful collateral rate on any such future interest. Unit AppraisementDescriptionofAlletValuesMadeforInheritance LIFE ESTATE APPRAISEMENT TaK PurpOles ""$ ------,-,~ PersQnal PrQperty (Original Appr.)2,732,290.47 Personal Property (Supplemental Appr.)5t1~4.50- Gross Estate 2.737.774.97 D &D.148.471.59 Clear Value 2.589.303.38 ~.-,'. TAX COMPUTATION .. General Bequest-Article I of Will-Household Goods to ',;Jidow $.4.934.50- '1'pl"m~nf Will li'1"!lli"1";(U1!lll P!ll1"1";1'1 'T'1"1l~1"t'n Widow ba!=:ed on one-half of the Adiusted Gross Estate finally determined for :as .~ - Federal Estate Tax Purposes.Power of Appointment t~the Widow 'on this Fractional , Share.Fullv taxable in Donors Estate. See 408 of the 1961 Act.'Ad iusted GroAs Estate per Federal Determination '2.850.922.43 One-half adiusted Gros.s Estate ner -.-~, Final Determination 1,425;461.21 ,,-Less Total Items 1 thru 3 of Schdule-,'-_.. :f\f.Fed Est Tax return f1 Fpnpl";:tl Adjustment in household goods &cash decedents money -150.743.51 Power of ApPointment to Widow 1 274.717.71 Continued on Page 2 - I Having been duly sworn accordi~law,I do hereby cer y that the bove appraisement is made in con- formity with law on this >C~.day of . <;: Coullty Page,219-1 No. 19-..1A . LIFE ESTATE APPRAISEMENT _",'lASHING-TON RESIDENT INHERITANCE TAX APPRAISEMENT Estate of LEO D.GUTT~~N a/~/a .Deceased: Late of SPEERS BOROUGH ., Date of Death,October 23,1971 ' Appraisement Docket Vol.,38 I· 63-71-1082 ~.., Filed in Register's 9ffi.ce,Dec.5, , Amount of tax'dfle,$-'--_ DEPARTMENT OF REVENUE Received, Examined and Approved,-.:...__ Wrote abOJl!Appraisement,·_ AppeoJ j,.om Appraisement,_ Entfred and chargid,_ I ~ RC C-2 (2-64)December 5,1974COMMONWEALTHOFPENNSYLVANIADATE DEPARTMENT OF ~EVENUE RESIDENT INHERITANCE TAX COUNT"¥\va~hington BUREAU OF COl)NTY COLLECTIONS HARRISBURG,PENNA,17127 APPRAISEMENT FILE NO.63-71-1082. Whereas,Leo D.Guttman a/k/a late of Speers Borough in the County of Washington Commonwealth of Pennsylvania,having died on the 23 rd day of October 19 71,seized and possessed of an estate subject to Inheritance Tax under the laws of the Commonwealth of Pennsylvania; Therefore,I,Frances Leo ,an appraiser duly appointed according to law, having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future interest in this estate is transferred in possession or enjoyment to collateral heirs of the decedent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer inheritance taxes at the lawful collateral rate on any such future interest. Unit Appraisement Oescrlpllon of Anet Values Made for Inheritance LIFE ESTATE APPRAISEMENT Tax Purpoiss -',Insurance $70,000.00 \$',' Entireties Property 39,809.01 )Schedule M. ~Federal Estate TaxAnnuities23.000.00.l R 7(){; ___C~sh-Dec.Money 13.000.00'\Federal Adiustments, Household Goods 4.934.50 1 as Finalized Total 150.743.51 Balance of Residue -Life Estate to Son Born 6-10-38. Age 33. Residue 1,309,651.17- Ae:e Factor .69401- Value of Life Est.908.911.01 908,911 01. Tax Breakdown $,4",934.50 @ 6%=$296.07 '1,274,717.71 @ 6%=76 483 06.' 908,911.01 @ '6%=54.534.66 ' '.Total Tax Due 131.313.79 1 Tax Credit 131 314.07 Credit toward Remainder Tax .28- Continued on Dae:e 3 Having been duly sworn according to law,I do hereby certify that the above appraisement is made in con- formity with law on this day of 19__. Appraiser (IC\Imber and Street) ,Penna.(P~OfBee) County 1974 LIFE ESTATE APPRAISEMENT 1vASHINGTON RESIDENT INHERITANCE TAX APPRAISEMENT Estate of LEO D.GUTTMAN Deceased. Late of SPEERS BOROUGH Date of Death,October 23,1971 Appraisement Docket Vol.,_~3::..:8~_ Page,219-1 No.63-71-1082 Filed in Register's OfJice,Dec.5 Amount of tax'dlle~$_ i DEPARTMENT of REVENUE Received, Examined and Approved,_ Wrote abo.ut Appraisement, ,, Appeal/"OHl Ap~raise,ment,___ Entered and charged,_.. ..... -' .- • • .. COUNT~~'~~a!ll!:l!s~h~i~n~g~t~o~n,---_ FILE NO._6_3_-_71_-_1_o_8_2 _ R CC-2 (2-64) DEPARTMENT OF ~EVENUE BUREAU OF COUNTY COLLECTIONS HARRISBURG,PENNA,17127 COMMONWEALTH OF PENNSYLVANIA RESIDENT INHERITANCE TAX APPRAISEMENT DATE December 5,1974 _L_e_o_D....;.._G_u_t_t_ma_n_a...l.l_k..Ll_a late of __S....p..;;..e..;;..er"-s~B;;....;o;.;;:r-=o...;;;:u=g=h _ W hO t Whereas, in the County of as 1ng on Commonwealth of Pennsy vania,having died on the 23 rd day of October 19-1.1,seized and possessed of an estate subject to Inheritance Tax under the laws of the Commonwealth of Pennsylvania; Therefore,I,Frances Leo ,an appraiser duly appointed according to law, having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future Interest In this estate Is transferred In possession or enjoyment to collateral heirs of the decedent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer Inheritance taxes at the lawful collateral rate on any such future Interest. Unit Appraisement Oescrl pilon of Anet Values Made for Inheritance LIFE ES~TE APPRAISEMENT .,Tax Purpo18s $ Note:Income to son not in excess of $25,000.00 per year. Invasion of Principle but not in the Aggregate of $100,000.00 for establishment or continuation of ay business.When son reaches age 40 distribution of all accumulation of income.with invasion of principle for any emergency or personal use.but not to exceed the sum of $25.000.00 per calendar vp.ar Shonl n anv ;n1Ta~;nn nf'nor;nt";nl P nt"t"l11"'1'1'", Trustees T.report the Consumption of Princinle on a calendar year basis to the Commonwealth of-I Pennsylvania for tax purposes., - ContinE!enci8s - ,Upon death of Life Tenant.'Remainder to Son's Issue and if no Issue to 'chi1 dred of two Brothers. I ., Having been duly sworn according to law,I do hereby certify that the above appraisement is made in con- formity with law on this day of 19__. Appraiser (M1mber and Strlet)-,Penna. (POll OftIoe) LIFE ESTATE WASHINGTON County • 19 74 RESIDENT INHERITANCE TAX APPRAISEMENT Estate of LEO D.GUTTMAN Deceased. Late of SPEERS BOROUGH Date of Death,October 23,1971 Appraisement Docket Vol.,_-3=8 _ Page,219-1 No.63-71-1082 Filed in Register's Office,Dec.5, Amount of tax due,$_ DEPARTMENT OF.REVENUE', Received, Examined and Approved,_ Wrote abo.ut Appraisement, Appeal f"om Appraisement,_ Entered and charged,_ ) • RCC-81 (6-73) COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS HARRISBURG 17127 NOTICE OF FILING or APPRAISEMENT IN YOUR REPLY PLEASE REFER TO 38-218-1 Inheritance Tax Division j HOWARD S.GUTTMAN f1 lINT ON NAT I ONAI.BANK OF PITTSBURGH (Executor cX~1 In Re:Estate of __~L=E=O",---"D~.,----"G:...:::U-,,=-T=TM=A=N~a=+/~k~/~ac--_ _WwA:::IJ,S.u..HuI...L!NLlo.!.G.......T!.!..ONu.-__County -File No.63-71-1082 Dear MR.Guttman: \You are hereby notified that the supplemental appraisement in the estate of Leo D.Guttman has been filed in the office of the Register of Wills of Washington County on December 5 ,19 74,Said appraisement reflects the following valuations: Real Estate _ PersonaI P roperty ~5~,....::4~8~4:!..-'.!!...-'5~O~- Transfers _ Jointly Owned _ Tota I ----"5y'w4~8!..:J4L.!!.--"5~0:....--_ As to such tax that is paid within three months from date of death,a five (5%) percent discount is allowable.As to any tax that remains unpaid after nine (9)months (fifteen months when death occurred from December 22,1965 to June 16,1971,inclusive; and twelve months when death occurred prior to December 22~1965)from date of death, interest at the rate of six (6%)percent per annum is charged. Any party in interest who is aggrieved by this notice may object thereto within sixty days after receipt of said notice as provided by Section 10 1 of the Inheritance Estate Tax Act of 1961,72 P.S.2485-1001,P.L.37'---- Date ----.:D=-e=-c=-e~m~b~e~r~5~,J.___:1~9::....!7---'4:....--- Title CHIEF APPRAISER DATE OF DEATH:October 23,1971 Note:This is not a bill. -., RCC-39 (5-68)•SUPPLEMENTAL COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT Estate of GUTTMAN,LEO D.a/ka (Last Name)(First Name)(Initial) SUMMARY DATE OF DEATH _63-71=1082 REPORT OF INHERITANCE TAX APPRAISER I,the undersigned duly appointed Inheritance Tax Appraiser in and for the County of Washington Pennsylvania,do respectfully report that I have appraised the real and personal property as reported in the fot going return at the values set forth opposite each item in the last column to the right in S~'""B","C",and"'. Dated,December 4,1974 ~~~/l<.-(J( INHERITANCE TAX APPRAISER tf' REPORT OF THE REGISTER OF WILLS I,the undersigned duly elected Register of Wills in and for County,Pennsylvania,do respect- fully report that I have allowed deductions in the amounts claimed by deponent,except as to those items where a greater or lesser amount is set forth in the last column to the right in Schedule "F",which greater or lesser amount represents the sum allowed as a deduction. Dated:_ REGISTER OF WILLS .t;484 50 5 484 50 None 5,484 50 VALUE AS REPORTED VALUE AS APPRAISED VALUE AS REAPPRAISED $$$-------+-- INVENTORY Real Property (Schedule A) Personal Property (Schedule B) Transfers (Schedule C) Joint -Held Property (Schedule E) TOTAL GROSS ASSETS Less Debts and Deductions (SCHEDULE F) CLEAR VALUE OF ESTATE Valuation of life estates or FOR USE OF REGISTER ONLY Tax on $-4-__2Jo-J Taxon $~ Tax on $5% Tuoo$lK Tax on $15% Exemptions * Total Estate ---JI-_ TOTAL TAX COMPUTATION OF TAX $---------4-- $---------4-- $---------4-- $-------4--- $---------4-- $----l.__ (*)As evidenced by Charitable Exemption Certificates issued by the Secretary of Revenue. Less tax previously paid BALANCE Less 5%of tax if paid within 3 months after death ::::::::::::::1=== BALANCE OF INHERITANCE TAX DUE $t= Add interest at rate of 6%from_____to $-.J AMOUNT OF ESTATE TAX ASSESSED $--------..11- Estate tax paid $--JL- BALANCE DUE $---_---Jl- Add interest at rate of 6%from t= ------ttIO-----$-------1. TOTAL TAX BALANCE $--------..1 PAID $-.J FOR USE OF REGISTER ONLY ADJUSTMENTS NOTE:Where subsequent adjustments are made to the above computation of tax by the Register of Wills,for proper reason, same should be noted below,with short explanation. Will !...No.Admlmstration IN THE Year . MATTER OF THE APPRAISEMENT OF THE ESTATE OF l:.:EO ..l).Gl,JrI"r.MAN~/k/a Deceased Late of ..SPEERS BOROUGH.................-. County of WASHINGTON Commonwealth of Pennsylvania REPORT AND APPRAISAL "'. • RCC-2 (2-64) DEPARTMENT OF"REVENUE BUREAU OF COUNTY COLLECTIONS HARRISBURG,PENNA,17127 COMMONWEALTH OF PENNSYLVANIA RESIDENT INHERITANCE TAX APPRAISEMENT DATE _D_e_c_e_m_b_e_r_4",-,_1_9_7_4__ COUNTY _,,_W_a_sh_,_in_g:=.t_o_n_'_ FILE NO.__6_3..,..-_7....1_-1_0_8_2 _ Whereas,Leo D.Guttman late of Speers Borough in the County of \V'ashington·Commonwealth of Pennsylvania,having died on the 23 rd day of October 19-U seized and possessed of an estate subject to Inheritance Tax under the laws of the Commonwealth of Pennsylvania; Therefore,I,Franc es I,ea ,an appraiser duly appointed according to law, having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future interest in this estate is transferred in possession or enjoyment to collateral heirs of the decedent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer inheritance taxes at the lawful collateral rate on any such future interest. Unit AppraisementDescriptionofAssetValuesMadeforInheritance TaxPurpolesSUPPLEMENTAT.APPRAISEMENT (Pickup of Additional Assets omitted in ori~inal $ appraisement and reflected in the Federal Adiustment) Personaltv· 10 shares Three Rivers Bank (Unit Value $55.00 per share)550 00 Household e:oods 4.934 50 ,- , '" Total 5,484 50 " " Having been duly sworn a~~o law,I do hereby c "ify that the above appraisement· formity with law on this ~day of --7"a.=:::::::::::4;:.,.:;;lii~~~"'"==----;:::::::::6~:"-~,A1t, ~~(Z~!It::::::;~~~:::::"':':f::2.:":::::===:::,Penna. County --------._--- SUPPLEMENTAL APPRAISEMENT WASHINGTON RESIDENT INHERITANCE TAX APPRAISEMENT Estate of LEO D.GUTTMAN Deceased. Late of SPEERS BOROUGH Date of Death,October 23,1971 Appraise/llent Docket Vol.,_.."l3u;;S)...-._ • Page,219-1 No.63-71-1082 19~4..Filed in Registers Office,Dec.4 Amount of tax due,$_ DEPARTMENT OF REVENUE Received, Examined and Approved,_ Wrote ahaut Appraisement, Appeal j"om Appraisement,_ Entered and charged,_ "\ '- '., I -, f '.,;J. POST OFFICE BOX NO.B37 PITTSBURGH,PA.152:30 J TRUST DEPARTMENT August 19,1976 :Mr.Russell Marino,Register of Wills Court House Washington,Pennsylvania 15301 In re:Estate of Leo Donald Guttman,Deceased Dear :Mr.Marino: 'We enclose for filing on behalf of the above captioned estate the Connnonwealth of Pennsylvania Department of Revenue form RCC-33 in triplicate for principal consumed by life tenant in years 1973 and 1975. Also enclosed is our check in the total amount of $2,780.39 for principal consumed by life tenant,Maury Guttman. During the year 1973 principal was consumed in the amount of $100,000.00,Maury Guttma.J:1 was born June 10,1938 and was 35 years old in 1973.Therefore,$100,000.00 x remainder interest factor of .32350 = $32,350•00 @6%=$1,931.00 of tax due p~us interest from January 1,1974 to August 20,1976 in the amount of $307.03. Also principal was consumed in 1975 in the amount of $25,000.00 x the remainder interest factor,of .34185 (the life tenant being 37 years of age)=$8,546.25 @6%=$512.78 plus interest from January 1,1976 to August 20,1976 in the amount of $19.58. Very truly yours, ~o...&.--V.'f::& Paul P.Kostek Assistant Tax Officer PPK/jr Enclosures cc:Robert F.Patton,Esquire H09322B09 .--{ Leo Donald Guttman H09322B09 For yeax 1973 $109,000.00 x .32350 = $32,350.00 @ 6%= Interest from 1-1-74 to 8-20-76 = For yeax 1975 $25,000.00 x .34185 :: $8,546.25 @ 6%= Interest from 1-1-76 to 8-20-76 = 1,941.00 307.03 512.78 19.58 2,780.39 TENTATIVE STATEMENT PENNSYLVANIA TRANSFER INHERITANCE TAX. .•Date "2,g ~.J.1..2 ,, TO....·....·:;It..~..·21~..·13·~....~.._'f~··_··;....· ·......·.. .....................6?J.._p..........J:(~T ......·~..··.r~··....zr.~···..··.. ~~:..~.:.=..~..J}~.~~~IiH~~~~~..~..r 1..t...2../. Date County ~f .State 3 . Appraised :File ':':'t.::::...~.I..1..=..I File "':::::..21...-:::/t2..fl.~.. Real Estate Personal Property Joint Accounts .................................................................................................................................................................................................................... Less Exemptions Less Debts and Administration Expenses :~.. TAXABLE AMOUNT TAX on @ ~ro .. TAX on @ rc C2::.!.V.~~~~.1...;;".f}:79..... J' Amount Previously Paid TAX BALANCE Interest from ..I.:::..\:.J :+.to d..~\.. ........~rc on ~1.~.~.:..::z.(.. ............................................................ r::3~to.<0 J............................................................ BALANCE DUE COMMONWEALTH......J..'J"..2...K...(2...I'....~...r... DISCOUNT (5 rc)IF PAID WITHIN THREE MONTHS FROM DATE OF DEATH. PAYABLE TO: REGISTER OF WILLS WASHINGTON COUNTY COURT HOUSE WASHINGTON,PENNSYLVANIA ......~~~~:¥i;~~~i~!i./r'.·,~.. ?,(f$';2.J 1/T..::..3 i ~a 02c:;J ~'If7t:. ,1 Form RCC-33 RESIDENT DECEDENT "3 -7/-:/0 8 2- CON SUM E D 'A S S.E T S COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS COUNTY OF ~\ ~1~'\ Washington J IMPORTANT:This return must be completed in detail and filed in duplicate,with will attached,with the' Register of Wills of the County where decedent resided;Return is due within one year after date of death,unless an extension is granted by the Secretary of Revenue.(Section 703 of the Inheritance and Estate Tax Act of 1961.) County of '!Washington ...........................................} ss: .................................... The Union National Bank of Pittsburgh.......................................................................................................Executor }Decedent dJed of the estate of the above-named decedent being duly sworn,depose S and say S October 23 71 ,.......................................,19 ,)testate leaving alast will, (Month)(Ilay)(Y""r)L~ :~::rNa:~t:::ir::::::::::::::~::~:}.:~;~:~~:.•••~;~~9~~~;q~~~(t~~:~;;~·~~~~~;~~~;~~;~~~~j~i;~.·..~mailed. ExecutorThatassuch deponent is familiar with the affairs of said estate and the property con- (Ex"clJtor~ stituting the assets thereof and their fair market value. That at the time of death there was no safe deposit box registered in decedent's individual name,or jointly with,or as agent or deputy of another,or in decedent's individual name,with right of access by another as agent or deputy,with the exception of the following:- NAME AND ADDRESS OF BANK OR OTHER INSTITUTION THIS SAFE DEPosiT BOX RENTED RELATIONSHIP OF JOINT IN WHICH DECEDENT RENTED A SAFE DEPOSIT BOX IN NAME OR NAMES OF HOLDERS TO DECEDENT See oril!inal filed July 20.1972 I I / That the contents of said safe deposit box or boxes are itemized under Schedules of this--'--- return,with the exception of the follOWing,for the reasons hereinafter set forth: That Schedule A attached hereto and made part hereof sets forth fullv and in detail all the real property in the Commonwealth of Pennsylvania of which decedent died haVing an interest therein.It also sets forth the mortgage encumbrances upon each parcel of real property at the date of death,giving the amount still due at death,name of mortgagee,date,rate of interest,and book and page of record thereof.It also sets forth in the columns provided therefore the assessed valuation of each of said parcels,the estimated market value thereof as of date of death of decedent. That Schedule B attached hereto and made part hereof sets forth fully and in detail all personal property wl1eresover situated owned by the decedent at the time of death;all moneys left by the decedent at the time of death,whether in decedent's immediate possession,standing to decedent's credit in banks of deposit,savings banks,trust companies,or other institutions,whether indiVidually,or in trust for any otl1~r person or persons giving also separately the accrued interest thereon,if any,down to the last interest day prior to decedent's death in the case of savings banks,and to the date of decedent's death in all other cases;all bonds,postal saVings,treasury certificates or notes and other evidence of in- debtedness of the United States""to the decedent;all obligations,whether by statute or agreement they are designated as tax free,of the United States,or any state,or political subdivision thereo~or of any fore'lgn country,which a:re owned at the time of death;all wearing apparel,jewelry,silverware,pic- tures,books,works of art,household furniture,horses,carriages,automobiles,boats,and any and all other personal chattels of whatsoever kind or nature,left by decedent,together with the fairly estimated market value thereof;all bonds and mortga/!es held by decedent and of all claims due and owing decedent at the time of death,and all promissory notes or other instruments in writing for the payment of money of which decedent died possessed,of whatsoever nature,with interest thereon,if any,giving the face value and estimated fair market value thereof,and if such estimated fair market value be less than the face value,it sets forth briefly the reasons for such depreciation as to each item;all moneys payable to the estate from life insurance polici'es carried by decedent;all annuity and endowment contracts the proceeds of which were payable upon the death of the decedent;and all the corporate stocks and dividends due thereon and unpaid as of the date of death,bonds and accrued interest thereon to the date of dece- dent's death and other investment securities owned by the decedent at the time of death,with the market value thereof at such time. Subscribed and sworn to before me this .. ................;J..9.tb..day of .a~19 Z6.. ............................!J1~.w..~~.·....···lh;t~Public ".. In the case of securities of close or family corporations,the values reported are as far as possible substantiated by financial statements of the corporations,showing the assets and liabilities thereof as of the date of death,The schedule also sets forth the interest of decedent at the time of death in any co-partnership or business,and in support of the value of such interest there is annexed to said schedule,financial statements showing the assets and liabilities of said co-partnership or business. A copy of the co-partnership agreement,(if oral,a statement setting forth the nature of the agreement) together with a statement setting forth the character of the business,its location,and such other facts pertaining to the business as may be pertinent to a fair and just appraisal of the decedent's interest therein must be submitted,It should also set forth in itemized form~together with the fair market value thereof,any other property owned or bequeathed by the decedent at the time of death. The Schedule C attached hereto and made part hereof sets forth a true answer to each inquiry contained therein and in the case of transfers ofproperty,real or personal,with~!!two years of decedent's death,in contemplation of decedent's death,or intended to take effect in possession or enjoyment at or after death,said schedule sets forth the nature and value of such property,to whom transferred,the relationship of the transferees to the decedent,the proportionate share received by each transferee and all other facts of a pertinent nature regarding said transfers.In the case of transfers intended to take effect in possession or enjoyment at or after death,there is also attached to the schedule a cOllY of the deed,trust agreement or other instrument creating the trust.Thert~is also set forth in said schedule a list of all property,real and personal,with its value,which pa~ses at decedent's death by virtue of the exercise by decedent,either individually,or jointly with another,or any power of appoint- ment vli!sted in decei!.ent,either ~ndividually or jointly,by the Will,deed,or other instrument of another, ""• -•..Cow~th ,8 copy ?f the instrument creating such power attached to,the schedule. That Schedule D attached hereto and made part hereof sets forth the names and addresses of all persons beneficially interested in this estate at the time of decedent's death,the nature of their res- pective interests,their relationship,if any,to the decedent,together with the ages at the time of decedent's death of all minors,annuitants and beneficiaries for life under decedent's Will.It also contains a statement shOWing which of the beneficiaries named in the decedent's will,if any,died prior to decedent,the dates of their death,their issue,and the relationship of such issue to the beneficiary. That Schedule E attached hereto and made a part hereof sets forth all property,real and per- sonal,owned by the decedent jointly with another or others,including intangible,standing in the name of the decedent and others,plus the date and place of record of instruments effecting the vestiture of real estate and the date of acquisition of personalty,plus the name,address and relationship,if any, of co-owners to the decedent. That Schedule F attached hereto and made a part hereof sets forth fully and in detail all debts and deductions claimed for and on behalf of this decedent's estate,including funeral expenses paid; family exemption,where applicable;costs of administration of this estate;counsel fees and fudiciary's commissions paid or to be paid;cost expended for burial trusts,tombstones or gravemarkers,and reli- gious services,in consequence of the death of the decedent;debts and claims owing and unpaid at time of death;taxes accrued chargeable for period prior to decedent's death (except those allowed under Section 651 of the Inheritance and Estate Tax Act);together With a statement of collateral pledged for Obliga- tions,if any.It is agreed that the fiduciary will present proof of said claimed obligations upon re- quest,that if the amount actually paid in settlement of any fee,commission or debt is less than the estimated amount claiming and allowed,that the same will be reported to the Register of WillS,and that the amount of tax assessed can be reassessed in accordance therewith. That the totals of the appropriate columns in Schedules "A","B","en,"E",and "F"as directed therein, have been carried forward and properly registered in the Summary. The Union National Bank of Pittsburgh ..~?~.JL~..Kr:A~..~~.9.~f.¥.£~~....~~... (Executor-~T) ..~.?~.~9.!f.~.~~~~~?2?. (Street Number) .~~~.~~?~.~~?~.~~.~.!.~y.~.~~.?..?.?.9., (City or Town and State) NOTE:Before signing affidavit make sure all blank spaces in the affidavit and schedules annexed are filled in with details or the word "None",and in case the assets include rare and unlisted securities, securities of close or family corporations or an interest in any co-partnership or business,that the data and statements required under the paragraph above relating to Schedule "B"are attached.Also make certain that column #1 in the "Summary"has been properly completed as above-directed. MI\i<liARET W.BAUMAN.NOTARYPUBLlC PIIISBURCH.IILLEGHENY COUNrY MY COMMISSION EXPIRES JAN.31.1977 Mambllr.PennsylvaniaAssoclatilln ofNotMin Rq:-34 Jl-6"'). COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE 'IIA" REAL PROPERTY Real property in Pennsylvania,with statement of mortgage encumbrances upon each parcel at death of dece- dent.Where property held as joint tenant or tenancy by entireties,report on Schedule liE".Property held by the decedent as tenant in common with another or others,should be identified as to quantum of interest and the estimated value should be that of the decedent's interest only. The real property located In the Commonwealth of Pennsylvonla should be (1 )(2)(3) described by lot and block number,street and street number,together with DEPARTMENTageneraldescriptionoftheproperty,with a reference to the record of the ASSESSED VALUE VALUATION conveyance by which the decedent took title;if a farm state number of a·FOR YEAR OF ESTIMATED CAUTIONcres;also statement of mortgage encumbrances upon each parcel at death DECEDENT'S MARKET VALUE (Do not wr Iteofdecedent.Taxes,assessments,accrued Interest on mortgages,etc.,are DEATH In this space)to be listed on Schedule "F"and must not be deducted from this schedule. None _. Insert thi s total opposi te "real property",Schedule IIA"in the X X X X X "As Reported"column on the last page of this return. None RCC-35 COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "B" PERSONAL PROPERTY INSTRUCTIONS:This Schedule must disclose all tangible and intangible personal property owned indiVidually by the decedent,at the time of his death.Property owned by the decedent jointly with another or others must be listed under Schedule "E".Intangible personal property,titled in the name of the decedent,but payable at death to another or others,including but not limited to P.O.D.U.S.SaVings Bonds and tenta- tive trust accounts,must be listed,despite the fact that they are not of the administered estate. Tangible personal property should be listed first (e.g.jewelry,wearing apparel,household goods,and fUrnishings,books,paintings,automobiles,boats,etc.) Intangible personal property,such as bonds,treasury certificates,cash on hand and in bank, stocks,mortgages,notes,together with accrued interest or diVidends,salaries or wages,insurance pay- able to the estate or fiduciary in said capacity,partnership interests,interest in anyundistributed estate of or income from any property held in trust under the will or agreement of another,even though located outside of the State,at the time of death,should be listed in this schedule. Item ITEM UNIT ESTIMATED DEPARTMENT VALUATION No.List and describe fUlly VALUE MARKEr VALUE (Do not write in this space) 1 Consumed Principal for year 1973 100,000.00 100 (JOG.00I 2 Consumed Principal for year 1975 25,000.00 c2 -S;000.0 cJ ({/k,c/l-t Insert this total opposite "Personal Property",Schedule liB"in X X 125,000.00 /:<.j-(:)t)()I 0 [) Ithe"As Reported"column on the last page of this return. ,RC~-36. COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "c" TR.i\.NSFEIlS (1)Did decedent,wi thin two years of death,make any transfer of any material part of his estate,without receiving a valuable and adequate consideration therefor?(Answer yes or no)__ (2)Did decedent,within two years of death,transfer property from himself to himself and another or others (including a spouse)in joint ownership?(Answer yes or no)_ (3)If the answer to (1)or (2)above is in the affirmative state: (a)Age of decedent at time of transfer __ (b)State of decedent's health at time of making the transfer.(Note 1). (c)Cause of decedent's death.(Note 1). (4)Did decedent,in his lifetime,make any transfer of property without receiving a valuable or adequate consideration therefor which was to take effect in possession or enjoyment at or after his death? (Answer yes or no)__ (a)Was there any possibility that the.property transferred might return to transferer or his estate or be subject to his power of disposition?(Answer yes or no)_ (b)What was the transferee's age at time of decedent's death?__ (5)Did decedent in his lifetime make any transfer without receiving a valuable and adequate consideration therefor under which transferor expressly or impliedly reserves for his life or any period which does not in fact end before his death: (a)The possession or enjoyment of or the right to income from the property transferred? (Answer yes or no)_ (b)The right to designate the persons who shall possess or enjoy the property transferred or income therefrom?(Answer yes or no)__ (6)If the answer to (5)(b)above is in the affirmative,state whether the right was reserved in decedent alone or others _ (7)Did decedent in his lifetime make a transfer,the consideration for which was transferee's prolnise to pay income to or for the benefit of care of transferor?(Answer yes or no)~__ (8)Did decedent,at any time,transfer property,the beneficial enjoyment of which was subject to change, because of a reserved power to alter,amend,or revoke,or which could revert to decedent under terms of transfer or by operation of law?(Answer yes or no)__ (9)If the answer to (8)above is in the affirmative,was the power to alter,amend,or revoke the inter- est of the beneficiary reserved in the decedent alone or the decedent and others? (Answer yes or no)__ NOTE 1:The answers to these questions should be supported by affidavit by the attending physician as well as a copy of the death certificate. NOTE 2:If answer to any of the above questions is yes,set forth below a description of the property transferred,it's fair market value at date of death,dates of transfers and to whom transferred,with relationship of transferees to decedent,if any.Su~mit copy of any trust deed or instrument,if trans- fers are claimed to be non-taxable,also submit detailed statement of facts on which said claim is based. NOTE 3:List applicable property below in manner in which provided in Schedules A,B,or E. ITEM None DESCRIPTION MARKET VALUE (Es timated)DEPT.VALUATION (Dept.Only) Insert this total opposite "Transfers",Schedule "C"in the "As Reported"column on the last page of this return.None ,. ReC-38.,'j .COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "E" JOINTLY OWNED PROPERTY INSTRUCTIONS:This schedule must disclose all property,real and personal,owned by the decedent jointly with another or others,including intangibles,standing in the name of the decedent and others.List real estate first,as entireties,or joint tenants,giving brief description,as indicated under Schedule "A",plus the date and place of record of instrument effecting vestiture,but do not include entireties or out of state real estate value in estate valuation column.Personal property should be listed as in Schedule "B",plus date of acquisition,and the name,address and relationship (if any)of co-owners to the decedent. Description of Property,Date of Acquisition,Namel Unit percentage Estate Address and Relationship of Co-Owners,and Place Value Share Valuation of Record of Instrument,where Real Estate.I None DEPARTMENT VALUATION CAUTION-Do not Write In This Space. Value of Value of Entire Decedent's property Interest Insert this total opposite "Jointly Owned Property",Schedule "E" in the "As Reported"column on the last page of this return.None .. -I '..'.....I •ReC'-37 (12-63) COMMONWEALTH OF PENNSYYLANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "D" BENEFICIARIES ( h ,.RELATIONSHIPBENEFICIARIESANDADDRESSES:(If step-children or SURVIVED DATE INTEREST OFStatefullnamesandaddressesofallwhoillegitimatechildrenDECEDENTOFBENEFICIARY ave an interest,vested,contingent or other-are involved,set STATE YES IN ESTATE wise,in estate)forth this fact.)OR NO BIRTH See original filed : July 20,1972 -/, - " " "0 /' Deponent further says that all the above-named beneficiaries are living at this time except below: NAME DATE OF DEATH RESIDENCE OF THE Leo D.Guttman ESTATE OF ~IATTER OF THE APPRAISEMENT (Executor-Administrator must complete "As Reported"column #1.) 0 C-j>-3 '"d =0'"'o ~C1l C1l0'"'e:..C/O f-J0 :;'C/O C/O ~~0 >-3 :;,'"dI-'~e:..'"'~'<l C/O 0><'0~'"d C1ler'0 '"''"';-~0 ~'0 t-r:l C1l'"'C/O p..........'<~~....C1l 0'0CD"i4 63-71-1082 Year D<THE (No.Will Administration Deceased Late of ___Charleroi County of ~ashington.. . Common\\-ealth of Pennsylvania REPORT AND APPRAISAL :,--..."'-""'" :CJ)W :Q ::r':P". :l?;I a:"""-'"::--- enc::: ~~:>=0 en en >-<:n n?"",?"" ~>:::: ~ f' :>C/O :......=0:0'C1l----- l:::l'g..':: ,CD '"'(tc...- :~:l\.) :VI.. ~~:8l:::l l:::l:0CDCD:.:0:0 :>'"o~~""l_2.::lr:c... ------~~~ ------------:~:l\.) 'Jl..:0 :0:0:. :0:0 Kyle and Buerger -'...., ~~~,;r:j ,. ""j ~.;;'..... .t l ·,4!,.1, c;~ ";1.. II i";0 "-.J J Robert F.Patton,Esquire Buchanan,Ingersoll,Rodewald, 57th Floor 600 Grant Street Pitts~o/gp:,.Penns~l;v~~15219 -••I '......I .•,J -I Jrl c"-"-jl':'...,.".,...\,oJ •I , "-,:'.~i .J J L. ,,,.I,' Rcc-a1 (6-73) COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS HARRISBURG 17127 NOTICE OF FILING or APPRAISEMENT IN YOUR REPLY PLEASE REFER TO mlXitXIX Inheritance T;x Divi';ion j Union National Bank of Pittsburgh (Executor or Adm ini strator) In Re:Estate of Leo D.Guttman _.....:W.:....::a::..::s=h=i=n=go...=t-=..o=B__County -File No.__'-=..6.='"3_-_7.:....:1=---=1=-:0:..::8:,.=2:.--_ Dear Sir: You are hereby notified that the Consumed Assets appraisement in the estate of Leo Donald Guttman has been filed in the office of the Register of Wi lis of Wash;ngton County on September 1 ,19 76,Said appraisement reflects the following valuations: Real Estate ----,~_.,._~~~_---- PersonaI Property 4...:.-..=.O~,-=8-=9-=6~.-=2:.=:5 _ Transfers ._ J 0 intiy Owned ----,~_.,._~_~----- Tota I 4-=..O_=_,L'8=9::....:6::...:.~2~5=--_ As to such tax that is paid within three months from date of death,a five (5%) percent discount is allowable.As to any tax that remains unpaid after nine (9)months (fifteen months when death occurred from December 22,1965 to June 16,1971,inclusive; and twelve months when death occurred prior to December 22,1965)from date of death, interest at the rate of six (6%)percent per annum is charged. Any party in interest who is aggrieved by this notice may object thereto within sixty days after receipt of said notice as provided by Section 1001 of the Inheritance and Estate Tax Act of 1961,72 P.S.2485.1001,P.L.373. Dote September 1;1976 Signed ~~h~ Title Appraiser I Date of Death:October 23,1971 Note:This is not a bill. r ot n~~Jju~bIn~~'09J noj1fJi:d8n ',- :'1lG ~ ,.~.'",.-RCC-39 (5-68)CONSUMED ASSETS RETURN COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX SUMMARY RESIDENT DECEDENT '"o "_,,".. Estate of GUTTMAN,LEO D.DATE OF DEATH 10..23.71 FILE NO.63-71-1082 (Last Name)(First Name)(Initial) REPORT OF INHERITANCE TAX APPRAISER I,the undersigned duly appointed Inheritance Tax Appraiser in and for the County of Washington , Pennsylvania,do respectfully report that I have appraised the real and personal property as reported in the foregoing return at the values set forth opposite each item in the last column to the right in Schedules "A","B","C",and "E". ,~~LkYZDated:September 1,1976 INHERITANCE TAX APPRAISER REPORT OF THE REGISTER OF WILLS I,the undersigned duly elected Register of Wills in and for County,Pennsylvania,do respect- fully report that I have allowed deductions in the amounts claimed by deponent,except as to those items where a greater or lesser amount is set forth in the last column to the right in Schedule "F",which greater or lesser amount represents the sum allowed as a deduction. Dated: REGISTER OF WILLS INVENTORY VALUE AS REPORTED VALUE AS APPRAISED VALUE AS REAPPRAISED Real Property (Schedule A)$$$ Personal Property (Schedule B)40.896 25 Transfers (Schedule C) Joint -Held Property (Schedule E), TOTAL GROSS ASSETS 40.896 25 Less Debts and Deductions None (SCHEDULE F), CLEAR VALUE OF ESTATE 40,896 25 Valuation of life estates or annuities ...................$ 1=t=t=ESTATE TAX ASSESSMENTS $. -I FOR USE OF REGISTER ONLY COMPUTATION:OF TAX ., Tax on $@ $-", Tax on $40 ..896 25 60h $2.453 .78 .. -.....:J Tax on $5%$ Tax on $10%$.; ..) Tax on $15%$,.., Exemptions *"(*)As evidenced by Charitable,.. Total Estate 2,453 78 .Exemption Certificates issued I TOTAL TAX $by the Secretary of Revenue. I ,J-. I Less tax previously paid $2,458 EBALANCE$ Less 5%of tax if paid within 3 months after death $ BALANCE OF INHERITANCE TAX DUE $t=Add interest at rate of 6%from to $ AMOUNT OF ESTATE TAX ASSESSED $1=Estate tax paid $L-BALANCE DUE $ Add interest at rate of 6%from t=to $ TOTAL TAX BALANCE $ PAID $ FOR USE OF REGISTER ONLY ADJUSTMENTS NOTE:Where subsequent adjustments are made to the above computation of tax by the Register of Wills,for proper reason, same should be noted below,with short explanation. / Deceased MATTER OF THE APPRAISEMENT ~-:c..:; Late of~J ..SPEERS....JBOROGUH OF THE C i-3i·' ~. '.,~-, ,.,. A~ I~; ~.....-: ~ N V) ':.):,)cq ~r-, -j, (') ('J ~0,,-,' J.d......i-, h-!""')::l, 0J (~in <~lC"l:--,,J ,,1-1 ~-d,""~'"i/). CJ OJ OJr::;(j)ro (0 \)'''''''))co.Sn '""0 0 C; r--1:;'-i7 Year . ~,," (') IN THE WASHINGTON'",,,,,'''. f No. .~:..-.. (') cu ESTATE OF LEO D.GUTTMAN Will Administration County 1>f, ~ommonwealth of Pennsylvania~_--.J c:~~~REPORT AND APPRAISAL ? :-:-.~ ;;~ ~~f:-_"I_~,~.,.1", ~P1C'..)::1~:~t::>-:c\t'J (.) :'J ,'.;'"-" Q..'-'J '" " f---, ~. >-''"" t:....; ~"l; }..., ,") , ~ ......", ""-"': ~.' Q., ",.,. () ~,- CO "";~.. "'.'111 .. 4 Or"" ,-" ~ ,, '-~ -. '!7 ';.;l -, /~--' \ l RCC-2 (2-64) DEPARTM!NT OF REVENUE BUREAUOF COUNTY COLLECTIONS HARRISBURG,PENNA,17127 COMMONWEALTH OF PENNSYLVANIA RESIDENT INHERITANCE TAX APPRAISEMENT DATE September'1,1976 COUNTY W~sh!ngton FILE NO.63-71-1082 Whereas,Leo D.Guttman late of Speers Borough in the County of Washington Commonwealth of Pennsylvania,having died on the 23rd.day of October 19 71,seized and possessed of an estate subject to Inheritance Tax under the laws of the Commonwealth of Pennsylvania; Therefore,I,Anne Connor ,an appraiser duly appointed according to law, having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future interest in this estate is transferred in possession or enjoyment to collateral heirs of the de<ledent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer inheritance taxes at the lawful collateral rate on any such future interest. Description of Anet Unit Appraisement Values Made for Inheritance Consumed Assets Tax Purpol8s $ For Year 1973 -,Life Tenant Age 35 Personalty $lOO,QOO.OO Age Factor-35yrs %.32350 vaJ.ue o:tl;onsumea 32,350.00 32.350 00IAssets \ For Year 1975 -Life Tenant Age 37 "- Personalty $25,QOO.OO '.. CJ r?~, ;.;-~."J \.'\::....'-,.lite Factor-37 yrs.•34185 ,-...~cX---.-••.C\, Vfl~:T.0f Consumed ..I r.:,0 ,ss :s 8.546.25 ,'~-"I ....,~8.546 25~. J (\"C\J•j -•,''I T'Ot'al ~~40 896 25-,",-0 ~..q r-, Q ,t:~10.,1-,;:. (Tax Breakdown),,~~4-c."(~. .;)....'r-..., c.;.>0'\',.,06%$1,941~OO ·M1973-32,350.00 @ ==u ~~c'.t"l ~"-.-.j from'1-1-74 r~,h ..,Int.8-20-76=307~03 ....to h r~~..~. ,<-,,.~ 1974-$8.546.25 @ 6%512.78 ('~;»~,,"\t\)=~,~\.;,....[;'),'", ,.,~119.58 0 ., Int.from 1-1-76 to 8-20-76=,.{!) N .oj Total Tax Due 'Dlus Interest 2.780.39 Tax Paid In full 8-20-76 2.780.39 0.00 Having been duly sworn according to law,I do herebY~if~at ~e above appraisement is made in con- formity with law on this ~day of ./...,-'...19~. /~L /"'.........-4~~"""HPd /1 Pi.ppralaer........... ~e-.A /""..~ber and Street)Penna.cJ (POIt OftIee) , Deceased. Estate of Leo Donald Guttman ,"C\J :. RESIDENT INHERITANCE TAX -APPRAISEMENT-.J ~ ---j -''-..., -~~?'):-. (') :'"""1 -...-!'',."r-,~..",'':'".....-I ::'J I !:'l.-C"'.,.,.... ~-:, '--.'~ .'J,,.... ('),. ~~I<j '-:'ll,"''' Coullty,l'::-J "');'--" , ("U t ~')( -'J ,r.-,Washington Late of QUIIXBIIIP Speers Borough ,~ Date of Death,October 23,1971 ,\ Appraisement Docket Vol.,_---.;3;;;.;,8="-....,,..._ 1-., ~, Page,219-1 No.63-71-1082 .~ I "'"~, "'to ~0 ~ ('"~... ~'-:..,.<'::-t::........... -,r:-.-.'":'? ..; ') v..~ ..., ~-- -.. o·~ ~ ':! ~.> ,.-, ~... )'.,,.\1 -,j -'","l ::'IJ-1..:-..:::-I-P .0'-(-~J ....u h·"i:"- t ~.....,.-.l.",-:":~,.,~-::r ,1)~..."\0 I !2::-~.n 7"...........,t::~!..,f-":!0 -.i i:\: :""'l I -,-:-~ h h '::' 1-; !n 0"''-;E:\J -.....~'-....."~1-,, .)..."It .:- ('.,-,1-' C'I!-I ..,......::'~~:,..,·1,,-'0 _"l.oj ..'l ... ~:",-;:,,':; .J 1-, ).l .:).-. Ci .~ '-+;:: ~ :-- -J :"~ CD .-:-' "" ~f ~J Iv;-, (j).~ 19 76 t-~ ..~!C':"U ..1i f.~.,.,,,~ ;-;l.).........I -,..I.e.. ..i~, f~ :~~~.., Mmen"._..'~.--.I .'... (, J ,.....--1 ~~-..J :.,-.:'),".~()0 'J t::;'\., :-, '-,:-1 ~-' .'I c~..: '" ....~."u ""',..~~:;~,bEPARTMENT·.OF REVENUE t'-"-~,-'1 "".:-1 ;-,l..-"J .: )f ....,(......:. \,,' o rr,:I Receivtr{i, Filed in Registers Office,Sept.1 Amount of tax due,$_ <.~I I ~.;E~ami~ed and iipproved" I '..~}.,.... ~.;u,frote'abo.~;Appraiiement, I c.'C.:\J (-~'.,;- --, -,;-,... ;~'Appeall /,.0,".1 A/iprai,,: •"(~:-..,:_!-'l •:;J •l -.. ,"., ..~-..,.., Entered mid:charged.-...)r!J ~•) t '.:'~J \.t-~{t...,,..,',j.: ;.,I ....~~-..... I-I'''t:'.. '--, '-, J ~',......- \ I POST OFFICE BOX NO.837 PITTSBURGH,PA.15230 TRUST DEPARTMENT j September 8,1976 Mr.Russell Marino,Register of Wills Washington County Court House Washington,Pennsylvania 15301 In re:Estate of Leo D.Guttman,Deceased Dear Mr.Marino: We are enclosing for filing on behalf of the above captioned estate the following papers: 1)Election to have value of future interest determined as of June 10,1976 and pay tax assessed thereon. 2)Original and two copies of the Statement of Debts and Deductions form RCC-10. 3)Original and two copies of the Commonwealth of Pennsylvania Department of Revenue form RCC-33 for remainder interest. 4)Our check in the amount of $16,345.08 as payment in full of Pennsylvania Transfer Inheritance Tax on remainder interest for Trust created under Article Three of the Will. Your attention is specifically directed to the prepayment election, item one above.As stated,this election applies to the future interest in the Trust created under Article Three of the Will valued as of June 10, 1976.If you would refer to our letter dated July 20,1972,we elected at that time to pay future interest on the Trust created under Article Two of the Will and only with respect to the life estate on the Trust created under Article Three of the Will. ,'-~ ~\....... ... ',~ ... ~ "-i ~--...;.;;:-'.'t::::r,'"'1 --(.'"7l :1-C:''-'-r-"') r~ :::L-;r'"J(I) ::J-"-,r,~.. --I "-0,) C~'- -"tJ ..<..)r..~~:!.~"".;--;r- Lo..J-:.J r-~-"C, "v 00 I \'\ TH£UNIO~F~~!!~NAL.BANK CONTINUATION SHEET Mr.Russell Marino,Register of Wills September 8,1976 Page 2 The age of the life tenant,Maury S.Guttman as of June 10,1976 is 38,being born June 10,1938.The value of the Trust as of June 10,is $777,745.55 less Trustee fees of $2,355.00,giving a net value of $775,390.55 x remain~erinterest factor of .35133 equals $272,417.96 taxed at 6%equals $16,345.08. Very truly yours, Paul P.Kostek Assistant Tax Officer PPK/jr Enclosures H09322B09 ".' r ":.:::-,:~-.;r.:::;-:;~~f?jC-J C)-.r.....-:\r....-;r;-.(;)l~--.;"r',, '-CJ ..I ) l:.'!:J .~-\ ....~,:;.-..r--c.<,J'o-r-"-.t,J , ;(,;I" I Co I r--------------------------------------~----- TENTATIVE STATEMENT PENNSYLVANIA TRANSFER INHERITANCE TAX ill Date (l ,.l2..z6.... To 0:AL........:···..·~~·····fJtt-··f!d··~·MJ . ....._ _~_f!~-t..~. ~;:':~:~~_............................. _~~~Ha..~~,d1.··..Jf2L . ~;~:aised ~~~~~~.~g~d/f:../~~~:~~~..=.2(~L~l~. Real Estate Personal Property Joint Accounts· Less Exemptions Less Debts and Administration Expenses ~. TAXABLE AMOUNT ..A"A?/l,j(}#~. TAX on..·..· · ·..·..· ·..·@..· ·..7 0/0 •..m..·..·:~'f:::' TAX on @ 0 o/c ~c:§....t.<!"&:4.!'.. Amount Previously Paid TAX BALANCE Interest from to . ..................0/0 on .. BALANCE DUE COMMONWEALTH:2~$.?.s.=..~g DISCOUNT (50/0)IF PAID WITHIN THREE MONTHS FROM DATE OF DEATH. ~~4:v~~~~az·PAYABLE TO:~~A,/6"1v ~Y_7t;.. REGISTER OF WILLS ~--- WASHINGTON COUNTY -?-t-)<Z... COURT HOUSE WASHINGTON,PENNSYLVANIA Ac./,c¥70 t~ . RCC-33 (4'73) ,• .,.REMAINDER INTEREST COMMON.WEAL1H OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS j RESIDENT DECEDENT tJ-1J -/IJ f~COUNTY OF __W_AS_HIN_GT_ON _ IMPORTANT:This return must be completed in detail and filed in duplicate,with all attached,with the Register of Wills of the County where decedent resided;Return is due within nine months after date of death,unless an extension is granted by the Secretary of Re'ltenue.(Section 703 of the Inheritance an~Estate Tax Act of 1961.) IN THE MATTER OF THE ESTATE OF }AFFIDAVIT OF ____77.::"L...,.,e0::-=-cD=:-.:-:-:-G-:-:u-:-:tt-:-::ma~n=_==_=_==_:_:::_-_:__---EXECUTORS (STATE FULL NAME OF DECEDENT) Late of W_a_s_hi...:;·:c..n::logl....t:....o...::n:--______County ~ State of p_e_nn_S~Y_l_v_am_._a } sS' County of Washington .' HOWARD S.GUTTMAN and THE UNION NATIONAL BANK OF PITTSBURGH of the estate of the above-named decedent being duly swarn,depase and say Decedent died 0_c_t_o_b_e_r 2_3__ Robert F.Patton,Esq.Buchanan,Ingersoll,Rodewald,Kyle & Buerger 57th Floor -600 Grant Street Pittsburgh,PA 15219 ,(MONTH) Name and address of attorney or } ,other authorized repres,entatlve to whom all eorresflondenee should be moiled. (DAY) 19~{testateleaving a last will,cup;ar 1i1:1~1:Is I:o:elo UlIuel:ad,,} (YEAR)JfiIiDli:XiK: That as such Executors deponent is familiar with the affairs of said estate and the property constituting (EXECUTOR'~ the assets thereof and their fair market value. That at the time of death there was no safe deposit box registered in decedent's individual name,or jointly wi th,or as agent or deputy of another,or in decedent's individual name,with right of access by another as agent or deputy,with the exception of the following:- NAME AND ADDRESS OF BANK OR OTHER INSTITUTION THIS SAfE DEPOSIT BOX RENTED RELATIONSHIP OF JOINT IN WHICH DECEDENT RENTED A SAFE DEPOSIT BOX IN NAME OR NAMES OF HOLDERS TO DECEDENT See Original filed Julv 20 1<:)72 That the contents of said safe deposit box or boxes are itemized under Schedules__---,of this return, with the exception,of the following,for the reasons hereinafter set forth: That Schedule A attached hereto and made part hereof sets forth fully and in detail all the real property in the Commonwealth of Pennsylvania of which decedent died having an interest therein.It also sets forth the mortgage encumbrances upon each parcel of real property at the date of death,giving the amount still due at death,name of mortgagee,date,rate of interest,and book and page of record thereof.It also sets forth in the col~mns provided therefore the assessed valuation of each of said parcels,the estimated market value thereof as of date of death of decedent. That Schedule B attached hereto and made part hereof sets forth fully and in detail all personal property wheresover situated owned by the decedent at the time of death;all moneys left by the decedent at the time of death,whether in decedent's immediate pos session,s tanding to decedent's credit in banks of deposit,savings banks,trust companies,.or other institutions,whether individually,or in trust for any other person or persons giving als.o separately the accrued interes t thereon,if any,down to the last interest day pri~.to decedent's death in the case of savings banks,and to the date of decedent's death in all other cases;a:Il bOllds,postal savings,treasury certificates or notes and other evidence of indebtedness of the United'StaU:-s to the de- cedent;all obligations,whether by statute or agreement they are designated as tax free,of 'the United States, or any state,or political subdivision thereof,-or of any foreign country,which are owned a~t~e time of death; all wearing.apparel,j~welry,~ilverware,pictu.res,books,works of art,household furniture,-horses,carriages, automobiles,boats,and any and all other personal chattels of whatsoever,kind or nature,left by decedent, together with the fairly;estimated market value thereof;all bonds and mortgages held by decedent and,of all claims due and owing decedent at the time of death,'and all promis sory notes or other instruments in writing for the payment of money of which decedent died possessed,of whatsoever nature,with interest thereon,if any,giving the face value and estimated fair market value thereof,and if such estimated fair,market value be less than the face value,it sets forth briefly the reasons for such depreciation as to each item;all moneys payable to the estate from life insurance policies carried by decedent;all annuity and endowment contracts the proceeds of which were payable upon the death of the decedent;all and the corporate stocks and dividends due thereon and unpaid as of the date of death,bonds and accrued interest thereon to the date of decedent's death and other investment securities owned by the decedent at the time of death,with the·market value there- of at such time. In the case of .securities of close or family corporations,the values reported are as far as possible substantiated bY financial statements of the corporations,showing the assets and liabilities thereof as of the date of death.The schedule also sets forth the interest of decedent at the time of death in any co-partnership or business,and in support of the value of such interest there is annexed to said schedule,financial statements showing the assets and liabilities of said co-partnership or ltusiness. A copy of the co-partnership agreement,(if oral,a statement setting forth the nature of tne agreement) together with a statement setting forth the character of the business,its location,and such other facts pertaining to the business as may be pertinent to a fair and just appraisal of the decedent's interest therein must be submitted.It should also set forth in itemized form,together with the fair market value thereof,any other property owned or bequeathed by the decedent at the time of death. The Schedule C attached hereto and made part hereof sets forth a true answer to each inquiry contained therein and in the case of transfers ofproperty,real or personal,within two years -of decedent's death,in contemplation of decedent's death,'or intended to take effect in possession or enjoyment at or after death,said schedule sets forth the nature and value of such property,to whom transferred,the relationship of the transferees to the decedent,the proportionate share received'by each transferee and all other facts of a pertinent nature regarding said transfers.In the case of transfers intended to take effect in possession or enjoymerit at or after death~there is also attached to the schedule a COllY of the deed,trust agreement or other instrument creating the trust.Thert~is also set forth in said schedule a list of all property,real and personal,with its value,which passes at decedent's death by virtue of the exercise by decedent,either indivtdually,or jointly with another,or any power of appoint- ment vested in decedent,either indiVidually or jointly,by the Will,deed,or other instrument of another, with a copy of the instrUment creating such power attached to the schedule. That Schedule D attached hereto and made part hereof sets forth the names and addresses of all persons beneficially interested in this estate at the time of decedent's death,the nature of their res- pective interests,their relationship,if any,to the decedent,together with the ages at the time of decedent's death of all minors,annuitants and beneficiaries for life under decedent's Will.It also contains a statement shOWing which of the beneficiaries named in the decedent's will,if any,died prior to decedent,the dates of their death,their issue,and the relationship of such issue to the beneficiary. That Schedule E attached hereto and made a part hereof sets forth all property,real and per- sonal,owned by the decedent jointly with another or others,including intangible,standing in the name of the decedent and others,plus the date and place of record of instruments effecting the vestiture of real estate and the date of acquisition of personalty,plus the name,address and relationship,if any, of co-owners to the decedent. That Schedule F attached hereto and made a part hereof sets forth fully and in detail all debts and deductions claimed for and on behalf of this decedent's estate,including funeral expenses paid; family exemption,where applicable;costs of administration of this estate;counsel fees and fudiciary's commissions paid or to be paid;cost expended for burial trusts,tombstones or gravemarkers,and reli- gious services,in consequence of the death of the decedent;debts and claims owing and unpaid at time of death;taxeS accrued chargeable for period prior to decedent's death (except those allowed under Section 651 of the Inheritance and Estate Tax Act);together with a statement of collateral pledged for obliga- tions,if any.It is agreed that the fiduciary will present proof of said claimed obligations upon re- quest,that if the amount actually paid in settlement of any fee,commission or debt is less than the estimated amount claiming and allowed,that the same will be reported to the Register of WillS,and that the amount of tax assessed can be reassessed in accordance therewith. That the totals of the appropriate columns in Schedules "A","B", have been carried forward and properly registered in the Summary. Subscribed and sworn to before me this .~!.~., ....................................................'"d~y of tk.t..~19.1.~. ......................~~.,ti,.~. Nota~r Public . "e",4 A Howard S _Guttman Co-Executor ~~~~~~~.~.~.~:'~~~.:'~~.:;'. (Executor-~ ~C?::l.~q.f.·I~.C?.~~.~~J.7.. (Street Number) ~~.~.~~."?~.~~.~¥.~~~;r.~.y.~~?::???.Q . (City M Town and State) NOTE:Before signing affidavit make sure all blank spaces in the affidavit and schedules annexed are filled in with details or the word "None",and in case the assets include rare and unlisted securities, securities of close or family corporations or an interest in any co-partnership or business,that the data and statements required under the paragraph above relating to Schedule "B"are attached.Also make certain that column #1 in the "Summary"has been properly completed as above-directed. _...-.:~\"'·731 COt.\MONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "A" REAL PROPERTY Real property in Pennsylvania,with statement of mortgage encumbrances upon each parcel at death of dece- dent.Property held by the decedent as tenant jn common with another or other,should be identified as to quantum of interest and the estimated value should be that of the decedent's interest only.(Property held as joint tenants with right of surviorship or tenancy by entireties should be reported on Schedule liE.") The real property located In the Commonwealth of Pennsylvania should be (1)(2)(3) described by lot and block number,street and street number,together wi th DEPARTMENT a general description of the property,with a reference to the record of the ASSESSED VALUE VALUATION conveyance by which the decedent took title;If a farm state number of a·FOR YEAR OF ESTIMATED CAUTIONcres;also statement of mortgage encumbrances upon each parcel at death DECEDENT'S MARKET VALUE (Do not writeofdecedent.Taxes,assessments,accrued Interest on mortgages,etc.,are DEATH In thl.space)to be listed on Schedule "F"and must not be d~ducted from this schedule. None - Insert this total opposite "real property",Schedule"A"in the X X X X X "As Reported"column on the last page of this return. None RCC-35' 'COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT S'CHEDULE "B" PERSONAL PROPERTY INSTRUCTIONS:This Schedule must disclose all tangible and intangible personal property owned individually by the decedent,at the time of his death.Property owned by the decedent jointly with another or others must be listed under Schedule "E".Intangible personal property,titled in the name of the decedent,but payable at death to another or others,including but not limited to P.O.D.U.S.SaVings Bonds and tenta- tive trust accounts,must be listed,despite the fact that they are not of the administered estate. Tangible personal property should be listed first (e.g.jewelry,wearing apparel,household goods,and furnishings,books,paintings,automobiles,boats,etc.) Intangible personal property,such as bonds,treasury certificates,cash on hand and in bank, stocks,mortgages,notes,together with accrued interest or dividends,salaries or wag~s,insurance pay- able to the estate or fiduciary in said capacity,partnership interests,interest in any undis tributed estate of or in~ome from any property held in trust under the will or agreement of another,even though located outside of the State,at the time of death,should be listed in this schedule. Item ITEM UNIT ESTIMATED DEPARTMENT VALUATION No.List and describe fully VALUE MARKE:r VALUE (Do not write in this space) See copy of Schedule B Attached , Insert this total opposite "Personal Property",Schedule "B"in X X the "As Reported"column on the last page of this return.$777,745.55 "\ Estate ot Leo D.Gutt.:nt Deceased Schedule B The tollowing assets are valued as ot June 10,1976 as per the Election to Prepay on Rema'nder Interest 113 shares American Telephone &Telegraph Company COJDll¥)n @ 54 .1/16 831 shares Black &Decker Manufacturing Company Common @ 21 5/8 189 shares Cleveland Electric Illuminating Company Common @ 27 1/2 600 shares Emerson Electric Company Comngn l(~36 7/16 111 shares International Business Machines Corporation Common @ 254 3/4 200 shares Johnson &Johnson Common @ 89 9/16 300 shares Saars,Roebuck and Company .Common @ 63 1/16 . 258 shares Texaco,Incorporated Common @ 27 1/16 300 shares Westinghouse Electric Corporation Common @ 14 13/16 50,000.p/v Pennsylvania Highway Bond 5.75% Dated 8-15-69 due 1-15-86 @ ·99.69 20,000.p/v Upper Darby Township Bond 5.10% Dated 4-15-74 due 4-15-83 @ 97.75 74,267.F/V 4%Prouiissory Note of Gutbro Barge Line,Inc. Due 2-1-87 200,282.F/V 4%Promissory Note of Gutbro Development Company Due 2-1-87 47,398.F/V 4%Promissory Nota of Jesse B.Guttman TOWboat,Inc. Due 2-1-87 50,146.F/V 4%Promissory Note of Martin G.Towboat,Inc. Due 2-1-87 129,458.F/V 4%Promissory Note of Man-Valley Terminal,Inc. Due 2-1-87 376.818.F/V 4%Promissory Note of Guttman Petroleum.Company Due 2-1-87 Principal Gash /$6,109.06 17,970.38 5,197.50 21,862.50 28,277.25 16,712.50 18,918.75 6,982.13 4,443.75 49,845.00 19,550.00 29,000.00 112,000.00 30,000.00 35,000.00 97,000.00 278.000.00 876.73 $777,745.55 {tK;"u _ 71 7,7 'I~-:6·-~ "RCC"36 COMMONWEALTH OF PENNSYLVANIA TRANyrER INHERITANCE TAX RESIDE~T DECEDENT SCHEDULE "c" TRANSFEItS (1)Did decedent,within two years of death,make any .transfer of any material part of his estate,without receiving a valuable and adequate consideration therefor?(Answer yes or no)__ (2)Did decedent,within two years of death,transfer property from himself to himself and another or others (including a spouse)in joint ownership?(Answer yes or no)_ (3)If the answer to (1)or (2)above is in the affirmative state: (a)Age of decedent at time of transfer __ (b)State of decedent's health at time of making the transfer.(Note 1). (c)Cause of decedent's death.(Note 1). (4)Did decedent,in his lifetime,make any transfer of property without receiving a valuable or adequate consideration therefor which was to take effect in possession or enjoyment at or after his death? (Answer yes or no)__ (a)Was there any possibility that the property transferred might return to transferer or his estate or be subject to his power of disposition?(Answer yes or no)_ (b)What was the transferee's age at time of decedent's death?__ (5)Did decedent in his lifetime make any transfer without receiving a valuable and adequate consideration therefor under which transferor expressly or impliedly reserves for his life or any period which does not in fact end before his death: (a)The possession or enjoyment of or the right to income from the property transferred? (Answer yes or no)~__ (b)The right to designate the persons who shall possess or enjoy the property transferred or income therefrom?(Answer yes or no)__ (6)If the answer to (5)(b)above is in the affirmative,state Whether the right was reserved in decedent alone or others ~__::__---------- (7)Did decedent in his lifetime make a transfer,the consideration for which was transferee's promise to pay income to or for the benefit of care of transferor?(Answer yes or no)__ (8)Did decedent,at any time,transfer property,the beneficial enjoyment of which was subject to change, because of a reserved power to alter,amend,or revoke,or which could revert to decedent under terms of transfer or by operation of law?(Answer yes or no)_ (9)If the answer to (8)above is in the affirmative,was the power to alter,amend,or revoke the inter- est of the beneficiary reserved in the decedent alone or the decedent and others? (Answer yes or no)__ NOTE 1:The answers to these questions should be supported by affidavit by the attending physician as well as a copy of the death certificate. NOTE 2:If answer to any of the above questions is yes,set forth below a description of the property transferred,it's fair market value at date of death,dates of transfers and to whom transferred,with relationship of transferees to decedent,if any. Submit copy of any trust deed or instrument,if trans- fers are claimed to be non-taxable,also submit detailed statement of facts on which said claim is based. NOTE 3:List applicable property below in manner in which provided in Schedules A,B,or E. ITEM NOne DESCRIPTION MARKET VALUE (Estimated)DEPT.VALUATION (Dept.Only) Insert this total opposite "Transfers",Schedule "C"in the "As Reported"colunm on the last page of this return.None RCC-38 " COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE"E" JOINTLY OWNED PROPERTY INSTRUCTIONS:This schedule must disclose all property,real and personal,owned by the decedent jointly wi th another or others,including intangibles,standing in the name of the decedent and others.List real estate first,as entireties,or joint tenants,giving brief description,as indicated under Schedule "A",plus the date and place of record of instrument effecting vesti ture,but do not include entireties or out of state real estate value in estate valuation column.Personal property should be listed as in Schedule "B",plus date of acquisition,and the name,address and relationship (if any)of co-owners to the decedent. Description of Property,Date of Acquisition,Name Address and Relationship of Co-Owners,and Place of Record of Instrument,where Real Estate. None , Unit Value percentage Share Estate Valuation DEPARTMENT VALUATION CAUTION-Do not Write In This Space, Value of Value of Entire Decedent's Property Interest Insert this to tal opposite "Jointly Owned Property",Schedule "E" in the "As Reported"column on the last page of this return.None RCC-37 (12~63)' COMMONWEALTH OF PENNSYYLANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT SCHEDULE "0" BENEFICIARIES BENEFICIARIES AND ADDRESSES RELATIONSHIP SURVIVED(If step-chiJ'dren or DATE INTEREST OFStatefullnamesandaddressesofallwhoillegitimatechildrenDECEDENTOFBENEFICIARY ave an interest,vested,contingent or other-are involved.set STATE YES IN ESTATE wise,in estate).forth this fact.),OR NO BIRTH --oJ See Original Filed Julv 20.1972 0 '-, e ~ I 0 ~ ~ ( h Deponent further says that all the above-named beneficiaries are living at this time except below: NAME DATE OF DEATH RESIDENCE .0: OF THE D<THE REPORT AND APPRAISAL ""d ::cell...ell '"II) 0 .... ::s ::.cII)....0 ::.c "Cell 0 ... "C ~ ell...~ enc: ~:::>::c en en .-.:: (')(') ?'"?" ~;;. : ;-..:m:(;). :::Y :......-... ~=W:t.:rJ ?"Pg (Executor-Administrator must complete "As Reported"column #1.) 0 :<;,..j ::;3...:0 II)0 :~.::s'":'"'":c+<t'~:!-'...II)~'"xII)~~0-~:l:lt%j :co '":P>.... ~~II)....ell :0 ~:co:Ii:c+!<: Deceased Charleroi Washington ESTATE OF ~IATTER OF THE APPRAISEMENT Leo D.Guttman Late of . Commonwealth of Pennsylvania County of Will l 63-71-1082 Administration ~No.Year +~J ,.(d I I ~..;,._'.,::S'//.1 ~~-)f·_.:~l",_'!~. .. •v.:i u Robert F.Patton,Esq. Buchanan,Ingersoll,Rodewald,Kyle &Buerger 57th Floor -600 Grant Street Pittsburgh,Pennsylvania 15219 ['JuL t l:~: I ''l (I u .'1 tt f 'J.C'QlJ'..4 -J ! , I ~ ~-0 ~~~-0 :-.J :~~:!2::-.J ~~>:-.J ::0 '-.J:-.J ::l:l :l:l :-.J :l:l '".....:co :co ..:co ~:-.J'::-.J :(1)-:.J:'-,:~."::l"'-:\J'l :\J'l 0"""".::.... \J'l :\J'l --ct:\J'l :\J'l c.......... -00 -00 -00 -00 -00 -0 ~;..- '"0 8--;;11 .•...........3~.II ., c..,. .' RCC-B1 (6-73) . COMMONWEAL TH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF COUNTY COLLECTIONS HARRISBURG 17127 NOTICE OF FILING or APPRAISEMENT Union National Bank (Executor~ IN YOUR REPLY PLEASE REFER TO 38-219-1 Inheritance Tax Division j Title In Re:Estate of L....::..e....::..o_D...:.._G_u_t_t_ma_D _ _.....W=a=s=h=l.·n=gCLt=..:o=D=-·__County -File No.__6_3_-_7_1_-_1_0_8_2 _ Dear Mr.Kostek: You are he reby noti fi ed that the__-=R~e~ma=l.=::·n=d=,.=.e.=.r-r---r-_ appraisement in the estate of Leo D.Guttman alkla has been filed in the office of the Register of Wills of Washington County on September 16 ,19-.1!,Said appraisement reflects the following valuations: Real Estate ----,_ Value of Remainder~IiIKOOI¥~$272,417.96 Transfers _ Jointly Owned _ Total ---2!!!t.7.L~2!!!..l·,p4[.!!:lo..!.7~.~96~_ As to such tax that is paid within three months from date of death,a five (5%) percent discount is allowable.As to any tax that remains unpaid after nine (9)months (fifteen months when death occurred from December 22,1965 to June 16,1971,inclusive; and twelve months when death occurred prior to December 22,1965)from date of death, interest at the rate of six (6%)percent per annum is charged. Any party in interest who is aggrieved by this notice may object thereto within sixty days after receipt of said notice as provided by Section 1001 of the Inheritance and Estate Tax Act af 1961,72P.5.2485.1001,P.L 373~,0. Date September 16,1976 Signed (/7¥~..L--'~~~tC. t:Z/-~vV~::r:/. Date of Death:October 23,1971 Note:This is not a bill. ;f1'1:;rl ~';'1{j·jr.f rif)i rr'J I'P I.i._,j £rlOI-I'\-f.u ri ~f'II i:.fitWJ ~1 IiI,):\'t IIf,IT,:)jU;'•,I'O!)J -)f)...r I,~,..t"(\.• "•..1...,....t ............ '-----------------------------------------_...__._---_.._------- •1.'..' \', \\. RCC-39 (5-68) COMMONWEALTH OF PENNSYLVANIA TRANSFER INHERITANCE TAX RESIDENT DECEDENT Remainder Appraisement SUMMARY Estate of Guttman,'Leo D. (Last Name)(First Name)(Initial) DATE OF DEATH 10-23-7_LFILE NO.63-71-1082 =====.. Dated:September 16,1976 REPORT OF INHERITANCE TAX APPRAISER I,the undersigned duly appointed Inheritance Tax Appraiser in and for the County Of_Q)~~.L!!J<.~t:l:::.0::,~"E.~::::-_ Pennsylvania,do respectfully report that I have appraised the real and personal property as reported in the egoing return at the values set forth opposite each item in the last column to the right in Schedules "A","8","C",and "E". ~vruJ ~k INHERITANCE TAX APPRAISER ~tC... REPORT OF THE ~EGISTER OF WILLS I,the undersigned duly elected Register of Wills in and f~County,Pennsylvania,do respect- fully report that I have allowed deductions in the amounts claimed by depone t"except as to those items where a greater or lesser amount is set forth in the last column to the right in Schedule "F",whtch greater or lesser amount represents the sum allowed as a deduction. Dated:_..J-Cf_--/-/-..t.1_r -..t.7......:h:::.-__ INVENTORY Real Property (Schedule A) Personal Property (Schedule B) Transfers (Schedule C) Joint·Held Property (Schedule E) TOTAL GROSS ASSETS Less Debts and Deductions (SCHEDULE F) VALUE AS REPORTED VALUE AS APPRAISED VALUE AS REAPPRAISED $$$-------+-- CLEAR VALUE OF ESTATE Valuation of ~~.Remainder........$_2_7_2..L-,4_1_7_~ ESTATE TAX ASSESSMENTS $C -,". .) I..,,.......,...w...,-;:., ,.. w (*)As evidenced by Charitable ~Exemption Certificates issued _by the Secretary of Revenue.... COMrUTATION~F TAX ~j $__-..-."..---:-'-'r=r_+--..,J,,=- $_----:1;:;;;..;;...;j6.L,;:~~4.i..=._~5~0;..::8- $~t1:__-+___c0~a- ~'":-1 $-------+-*'(~~L\$-------+-:-..:::-.-- TOTAL TAX 16,345 08$---~---,--- Less tax previously paid $__1_6_'_3_4~5_E08 BALANCE $0 . Less 5%of tax if paid within 3 months after death $=====~== FOR USE OF REGISTER ONLY Tax on $----:-:==---....-::::---!-=->o:-2% Tax on $272.417 96 @ Tax on $5% Tax on $10% Tax on $15% Exemptions * Total Estate 1--_ BALANCE OF INHERITANCE TAX DUE $±= Add interest at rate of 6%from _____to $----- AMOUNT OF ESTATE TAX ASSESSED $--------1L- Estate tax paid $......L- BALANCE DUE $~~ Add interest at rate of 6%from t= ------'lto-----$------1. TOTAL TAX BALANCE $------1 PAID $--J FOR USE OF REGISTER ONLY ADJUSTMENTS NOTE:Where subsequent adjustme.nts are made to the above cumputation of tax by the Register of Wills,for proper reason, same should be noted below,with short explanation. Will Administration (No. IN THE Year . ;...,) '-r-, I }-"1'.-)!"., MATTER OF THE APPRAISEMENT OF THE ESTATE OF LEO D.GUTTMAN a/ka/...ri~c~~sed Late of ,~.Sp~~r.f;..J~(,l:r().~.gh. ,~·1 !..., V) I -., 4 >-c <-:Ii :-:'"' ;,.1 County :of u "WCi.~J:t:i..l'l:gt()Il . ,~ ::;.'1.' Commonwealth of Pennsylvania -....'";:'; '-..;REPORT AND APPRAISAL :'1 r-.1 -:: h....,. .') -~',. :.D - RCC-2 (2-641 , \.\-io COMMONWEALTH OF PENNSYLVANIA DATE September 16,1976 .. D'I::PARTMENT OF REV'E'NUE RESU)ENT lNHERITANCE TAX COUNTY WdlingtonBUREAUOFCOUNTYCOLLECTIONS HARRISBURG,PENNA,17127 APPRAISEMENT FILE NO.63-71-1082 Whereas,Leo D.Guttman ajkja late of Speers in the County of --Washington Commonwealth of Pennsylvania,having died on the 23rd day of October 19 71,seized and possessed of an estate subject to Inberitance Tax under the ~onwealth of Pennsylvania; Therefore,I,C;;;U/YlCVlcU ~,an appraiser duly appointed according to law, having been designated to make a fair and conscionable appraisement of the said estate,and to assess and fix the cash value of all annuities and life estates growing out of said estate,hereby file the following appraisement: In the event that any future interest in this estate is transferred in possession or enjoyment to collateral heirs of the decedent after the expiration of any estate for life or for years,the Commonwealth hereby expressly reserves the right to appraise and assess transfer inheritance taxes at the lawful collateral rate on any such future interest. Unit Appraisement Dncrlptlon of Asset Value~Made for Inheritance Remainder Appraisement Tax Purposes An Election to DreDav the Remainder was filed On SeDtember $ 9,1976,under Section 714. Personal Property $777.745 ..55 D &D 2,355.00 Clear Value 775,390.55 The Life Tenant was 38 years of age at the time the Election to PreDav the Remainder was filed. Clear Value ,$775,390.55 ",-.1'"..., Age Factor-38 .35133 'J.-yrs.x (""..-\,, Val.of Rem.272.417.96 :'1 i"'L)272.417Clh1-,96..,-.,.~. I ~·t ,...".\.~1,.""1-.,....\,--, ,~""1,,,'h:-.....)..272,417~'- '0 Total ·-96.-.,',....," (Tax Breakdown) ...-"r ..'.~-~'. ;...,~.. $272,417.96 @ 6%$16,345.08 ·.-.=I 'Q ..,,:::.·-,."-Prey.Paid 16,345.08 :"1 ,..,......~~.~.".r):\; Balance Due 0.00 .'t,-' Having been duly sworn according to law,I do hereb~tif~~at)fe above a~raisement is made in con- formity with law on this /~~.day of .\:../-"'"L /~ "('>?J.~,\,.>""".;,I ..tJ .J ~rC ~o.ll t';-":hL)~a ;j?Appralaer '"",'.d '--'j/1 //A1 '.?J- ()f-Nt1J.(N\lm~an~tet) Penna.--()(PIIIt OlIIeel , ~, WASHINGTON~,r,:" ~,-'~~County -,~,-,·"".").~ '"'f·..,J ('",,- RESIDENT INHERITANC~~TAXAPPR;~SEMENT -q. :-1 '''; I ..J , f-,:'"""i 0 Estate of 'J -, I :\'~-",, LEO D.GUTTMAN :",""i .:' Deceased,.'J Late,of -, "'....~~,~ ,)"' ,"Speers Bo~~ugh .,-,, ,-' October 23,1971 !-,-',-, Date of Death,..,.- Appraisement D.ocltet Vol.,38 ",,:", Page,219-1 No.63-71-1082 .J_.-,'1 (.'(,J Filed in Register's Office,Sept.16 19 76 ...., ,..... I:'~,...li Anwunt of tax due,$I..(.;. ,'J ":l 4 ~.~,:..,,-.,-,.) DEPARTMENT OF REVENUE .)h J...;;..'.....'I ,)r-,•'-'':''-.,'.,),I '~., ,~-,.....I-.., ;::-'"..~.~.,'..... .~.,f-t ,--:....;"If ::"......) J_:~"',t ?'"t'"'""'~ju (i:).'.~.-\,.,;;;:,.J ~:l:.,.l-v,"'"Received,L'~."",.~I'Cv .-"1,'- ~·I !_..,..,('lS 'I.,...:J ~.... '"~)-,-,.,-1 I ;.'"-:1-!".;.'I ..........'--.--C",-'---1 ."C'.,!...,,.,, J .. I ',. Examined and App;i[,ved, ,.~~(..!~..-}-I ~f \,.)\.'~- "'-',-~,".".,-: Wrote abo.ut Appraisement,·.-l -.:n,..,'.J <:..~.~t;.) :;.-, ::'4 ;'\.,... 1..,...\--~- Appeal /,.om Appraisement,-.).::-...~-" ~;,-"-.'.,....,.·'1 ,.~.~ ,~.-,l (",~.J ....~... '-''V too,l-':"~..~.·...; 1 -,,. Entered ana,charged,,",:"'"l /0 ..--- ...,-.-,·.,...., ,;:)::'J ...:..;.~.-."..,;-~,..j ..., -'....-::·-...'J .J ,~.-- ~-..,~..,),".,~ -, ~ ~. ---------------------------------------,J 102ACNINHERITANCETAX STATEMENT OF ACCOUNT COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES P.O.BOX B327 HARRISBURG,PA 17105-8327 DATE REV-1607 EX (12-87) ESTATE OF GUTTMAN LEO D FILE NO.63 71-1082 DATE OF DEATH 10-23-71 COUNTY WASHINGTON,NOTE:TO INSURE PROPER CREDIT TO YOUR ACCOUNT,SUBMIT THE UPPER PORTION OF THIS FORM WITH YOUR TAX PAYMENT TO THE ADDRESS SHOWN.MAKE CHECK PAYABLE AND REMIT PAYMENT TO: UNION NATL BANK OF PGH BOX 837 PGH PA 15230 REGISTER OF WILLS WASHINGTON CO COURT HOUSE WASHINGTON,PA 15301 Amount Remitted CUT ALONG THIS LINE ~RETAIN LOWER PORTION FOR YOUR FILES .....- --- - ----- ---- - - -- ---- --- - - -- ---- --- - - ---- --- - - - --- - -- -- - -- - - --- -- --- - -- REV-1607 EX (12-87)**INHERITANCE TAX STATEMENT OF ACCOUNT ** ESTATE OF GUTTMAN LEO D FILE NO.63 71-1082 ACN 102 DATE 01-19-88 THIS STATEMENT IS PROVIDED TO ADVISE OF THE CURRENT STATUS OF THE STATED ACN IN THE NAMED ESTATE.SHOWN BELOW IS A SUMMARY OF THE PRINCIPAL TAX DUE,THE APPLICATION OF ALL PAYMENTS,THE CURRENT BALANCE,AND, IF APPLICABLE,A PRO~ECTED INTEREST FIGURE. DATE OF LAST ASSESSMENT OR RECORD ADJUSTMENT:09-16-76 PRINCIPAL TAX DUE:.16,345.08 PAYMENTS (1AX CREDiTS): j ~-PAYMENT RECEIPT DISCOUNT (+)AMOUNT PAIDDAreNUMBERINTEREST(-) 09-09-76 047062 .00 16,345.08 TOTAL TAX CREDITS 16,345.08 BALANCE OF TAX DUE .00 INTEREST .00 .TOTAL DUE .00 *IF PAID AFTER THIS DATE SEE REVERSE SIDE FOR CALCULATION OF ADDITIONAL INTEREST (IF BALANCE DUE IS LESS THAN $1 OR IS REFLECTED AS A "CREDIT"(CR),NO PAYMENT IS REQUIRED). PAYMENT:Detach the top portion of this Notice and submit with your payment made payable to the name and address printed on the reverse side. All payments received shall first be applied to any interest which may be due with any remainder applied to the tax. REFUND (CR):A refund of a tax credit,which was not requested on the Tax Return,may be requested by completing an "Application for Refund of Pennsylvania Inheritance and Estate Tax"(REV-1313).Applications are available at the Office of the Register of Wills,any of the 24 Revenue District Offices,or from the Department's 24-hour Forms Ordering telephone lines in Harrisburg -(717)787-8094,in Philadelphia -(215)351-2065. or in Pittsburgh -(412)565-3601. REPLY TO:Questions regarding errors contained on this notice should be addressed to:PA Department of Revenue,Bureau of Individual Taxes,ATTN:Post Assessment Review Unit,P.O.Box 8327,Harrisburg,PA 17105-8327. (717)787-6505. DISCOUNT:If any tax due is paid within three (3)calendar months after the decedent's death,a five percent (5%)discount of the tax paid is allowed. INTEREST:Interest is charged beginning with first day of delinquency,or nine (9)months and one (1)day from the date of death,to the date of payment.Taxes which became delinquent before January 1,1982 bear interest at the rate of six (6%)percent per annum calculated at a daily rate of .000164.All taxes which became delinquent on and after January 1,1982 will bear interest at a rate which will vary from calendar year to calendar year with that rate announced by the PA Department of Revenue.The appplicable interest rates for 1982 through 1988 are: Year Interest Rate Daily Interest Factor Year Interest Rate Dai Iy Interest Factor 1982 20%.000548 1985 13%.000356 1983 16%.000438 1986 10%.000274 1984 11%.000301 1987 9%.000247 1988 11%.000301 --Interest is calculated as follows: INTEREST =BALANCE OF TAX UNPAID X NUMBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR .--Any Notice issued after the tax'becomes delinquent will reflect an interest calculation to fifteen (15)days beyond the date of the assessment.If payment is made after the interest computation date shown on the Notice, additional interest must be calculated. r·\..,..~ COMMONWEALTH OF PENN~YLVANIA DEPARTMENT OF REVENUE HARRISBURG (File in Duplicate) IN YOUR REPLY PLEASE REFER TO Peter McHale ,Director Bureau of County Collections Department of Revenue Finance Building Harrisburg,Pennsylvania Dear Sir: Re:Estate of Leo D.Guttman Date of Death 10-23-71 County of Washington State File No.63-71-1082 Pursuant to the memorandum of February 25,1958,concerning valuation of closely held business interests,I herewith request your advice concerning the value of the following: A.Corporations NAME OF CORPORATION BUREAU USE ONLY TYPE OF NO.OF INVENTORIED VALUE SUGGESTED VALUE S~RES SHARES UNIT TOTAL.UNIT TOTAL 1. 2. 3. ,~.00rJ:[See Attached Sheet ~,680,95 1. 2. B.Non-Corporate Interest NAME OF BUSINESS ORGANIZATION TYPE OF BOOK BUS.ORG.VALUE INVENTORIED VALUE SUGGESTED VALUE 3. Remarks: Enclosed is the above and I await your assets. AP?ROV:::D ty 9·Pl-()FOR ~\• PETER J.McHALE )-r-73 DIRECTOR Form RCC -4?-RI available financial data for all request sunder "B'" advice before appraising any of the above described Very truly yours, /i:j~..j~I:h~~~ax Appraiser County of Washington .1 .«T The following securities were covered by two Buy-Sell , \Agreements,both dated Qctober 14,1969,between and -:'!j.mong each of the respective '~ompanies,Howard S.Guttman / ""_lind Leo D.Guttman.On February 1,1972,each of the {7~~omp&Pies elected to exercise their option under said ;1.~{~\I Agreements to purchase their respective shares of stock APPROVED BY" owned by the Estate of Leo D.Guttman,Deceased.In FOR 7-7-1J accordance'with the terms of the Agreements,the sale PETER J.McHALE price for each of the companies'stock was based upon the DIRECTOR net book value as of the close of the immediately preceding fiscal year,and such value was then increased by fifty per cent (50%). ._...._--- 250 shares Guttman Realty Company Capital @ 2181.948 100 shares Gutbro Development Company Capital @ 2002.82 50 shares Mercer Realty Company Capital @ 3380.72 100 shares Jesse B.Guttman Towboat,Incorporated Capital @ 473.98 5 shares GBL-7,Incorporated Capital @ 3370.60 5 shares GBL-8,Incorporated Capital @ 4185.20 5 shares GBL-9,Incorporated Capital @ 2940.80 2 shares GBL-lO,Incorporated Capital @ 5040.00 100 shares Guttman Oil Company Capital @ 5673.99 50 shares Guttman Petroleum Oompany Capital @ 7536.36 5 shares Thrif-T Oil Company Capital @ 35,597.00 200 shares Guttman Supply Oompany Capital @ 535.81 10 shares Guttman FUels,Incorporated Capital @ 818.60 r, :50 shares Gutbro Barge Lines,Incorporated Capital @ 1485.34 50 shares Explorer Towboat,Incorporated Capital @ 1076.56 50 shares Express Towboat,Incorporated Capital @ 1071.92 50 shares Envoy Towboat,Incorporated Capital @ 1026.82 100 shares Martin G.Towboat,Incorporated Capital @ 501.46 10 shares Men Valley Terminal,Incorporated Capital @ 12,945.80 40 shares Men Valley Terminal,Incorporated Preferred @ 150.00 545,487.00 t:Y!( 200,282.00 if.. 169,036.006A( 47,398.00 A( 16,853.00~ 20,926.00 d1( 14,704.00,f( 10,080.00 0<- 567,399.00 A 376,818.00 r4( 177,985.00 ~( 107,162.00 t.4( 8,186.00 01( $74,267.00~ 53,828.0001<- 53,596.00 a4<. 51,341.00 --<* 50,146.00 04< 129,458.00 ~<: 6,000.00~-.1III8_..IIIIiIIIII..._..........._.............__--'-o....-_.._ Form RC C·10 OFFICE OF THE REGISTER OF WILLS WASHINGTONOF COUNTV AND ...GENT OF THE COMMONWE"'LTH STATEMENT OF DEBTS AND DEDUCTIONS {,3-7/-/Jj';( DEDUCTIONS ALLOWED IN j THE SUM OF $,:{/3£S:,RIJ DAT';t:~.~1t~:;i~ '-ReglS~f Wills,Age~t W ESTATE OF __-=L:..::e..:.o-..:..D..:..-=.;GU:::t.:.t..::;ID::.a;;:;n=--___I....TE OF _~C~h~a~r.=l:.::::e::!:.r:t.o.=i.s.,_W.!!.a~sh~1.:!::·n~g~t1!Jo::!,,!n:!,,~P>..Jie;Unn~s~y~l:..l/v.saaoL.lnu.i,g,a~ October 23,1971DATEOFFII.ING APPR ...ISEMENT D...T&OF DEATH ....:...:.....-..:....:-_ DATE NO.OF VOUCH""NAM"OF P...VEE The Union National Bank of Pgh. REM"'RKS Trustee's COffinenl'lat.;011 "'MOUNT 2.355 00 ---+---+.---l------------4---------------1I------Ir---.- 2,355 00 COMMONWEALTH OF PENNSYLVANIA COUNTY OF ALLEGHENY I,PAUL P.KOSTEK,Assistant }ss: Tax Officer of THE UNION NATIOI~Btli~IWT~It.WtmPM:.TOF MV kNOWLEDGE "'ND BELIEF,THE FOREGOING IS A JUST "'Nt TRU E srATEMENT OF DEBTS,FUNERAL EXPENSES AND EXPENSES OF AgMINISTRATION SUBMITTED TO THE ESTATE OF EO D.GUTTMAN DECEASED....S DEOUCTIONi FOR INHERIT...NCE TAX PURPOSES._'"i?Q.l~:¥.\(~(L.5./ SWORN AND SUBSCRIB~IlEFOR~ME.THIS 'l'~DAY 01"Assistant Tax Officer~~llJ...21tL Notary Public MARGARET W.BAUMAN.NOTARY PUBLIC PITTSBURCH,AllEGH£NY COUNTY ~H'COM~ISSION EXPIRES JAN.31,1977 'Member:PenrrSvlvallia Ai;M'6fai'iioJnOf Not.:lr1~ I I I $ $----111: 2%Tax on $$1Remainder---------------!f1!i 6%Tax on $_On:....:::::...--,-A....::.C....::.C=UUD=t.:::..-_$16,345.08 '.11' I'15%Tax on $$:! %Tax on $$i~ll Estate Tax,Act of !: May 7,1927 Il~i$-----,----1;, 16.345.081 1! !Ii $-------ul TOTAL TAX CREDIT Less five percentum of tax if paid within three months after .date of death Plus interest at the rate of _._%from _ to _ SIXTEEN THOUSAND THUE HUNDRED FORTY·FIVE and 08/100.-----........-..dollars representing Pennsylvania Inheritance or Estate Tax due from the following estate: County __W_a_8_h_ib-----3<-t_o_Il -l Remarks: mjr! 1:File No.63·71-1082 Date of Death 10.23·11 i Date of Payment Be tem'ber 9 1916 I:"Name of Decedent Leo Donald Guttman T~--~~~~",.e:...g;;....¥**AI"',:§"~!c;,~---._~~«iQ{_<=a,~!BCC·4(6:74)..·.'L.·,...•...........'.•................."..........•........Ilf::;·r·/COMMQ~~,~~?\LTH9F'PEtsiNSYLVANIAi~~..........\"OEPARTMENT OF REVENUE1~!.!\l'Jq,f47 062 OFFICIAl.RECEIP1.PENNSYLVANIAJNHERITANCEANDESTATE TAX II'":Jl" 1=:RECEIVED ilf =1'·From:Union National Bank of Pittsburit~;Address Box 837 15219 SEA L TOTAL AMOUNT PAID $====1==6=,3::::4==5::::,O=8=11ll! NOTE:This Triplicate Receipt to be retained 'or3'8.i1.e:tt_l Received by I I NOTE,In accepting the transfer inheritance tax an future estates,prior to the death of the life tenant or tenant for years,as evidenced by this receipt,it is understood that the Commonwealth shall~jll'"not be precluded or prevented from hereafter assessing additional inheritance tax at the death of thefl.life tenant or tenant for years whenever it appears that such additional tax may be legally due and-*""'==6:"bt7':7'f::fC7'b-.,.,.-;:-i~f-:?77'~I"'6-"~:r---IHI collectible for any reason whatsoever.I-~---------~---~----------------------------------------------~~_I !-/c:J Per .L---==--..:_ N~12945 Washi~gton,pa.,-.......o&;;;;;iJL-..c:::~::...::=-"~,--;7'---,19-7LJ OFFICE OF CLERK OF~ORP.HANS'COURT DIVISION,jZL/'jRINO,_CI".~Coo"0;,1.1" State,etc.•••$===== Total County •••••$,----..:=-_ ~=~.:...=..=_=___:.._4--Dollars ~2 ACCOUNT Co-Executor Leo Donald Guttman,Dec'd.#9240 To CLERK OF THE ORPHANSI COURT OF WASHINGTON COUNTY PRINCIPAL: Cost of filing Acceptance of Trust December 7,1971 No.898687 $3.00 THE UNION NATIONAL BANK OF PITTSBURGH DETACH BEFORE DEPOSITING CHECK "\ -....~u ,J ,J. 9 891-46 +013 6 530-16 -10 039-00 +66 681-06 * 002 9 900-00 3 361-30 *002 000 139-00 *0-00 * 20 000-00 + 19 750-00 -40 156-00 + 002 40 ODD-DO -838-79 + 250-00 *002 1 439-38 + 156-00 *116-67 + 35 841-98 +2 214-37 + 30 923-96 -30 222-90 +2 575-97 + 002 30 000-00 -250-00 + 4 918-02 *002 4 918-02 + 222-90 *1 111-00 + 10 455-15 +139-00 + 5 880-74 -28 949-03 +156-00 + 002 5 265-62 -222-90 + 4 574-41 *002 all 23 683-41 *14 048-10 * 15 150-74 + 12 245-18 11 000-00 +ll~048-10 - 002 19 aDO-DO -66 681-06 + 2 90S-56 *002 002 8 000-00-*52 632-96 * 14 979-50 + 4 306-00 -5-25 + 002 238-82 +48-46 + 10 673-50 *2 202-71 +92-63 + 440-26 +112-73 + 13 489-55 +1 955-76 +462-28 + 7 053-50 -16-66 +005 002 6 356-99 +181-35 * 6 436-05 *3 835-63 + 3 361-30 +81-35 + 20 246-80 +4 574-41 +35-99 + 19 069-80 -2 90S-56 +294-52 + 002 10 673-50 +1 009-87 + 1 177-00 *6 436-05 +004 ?3 6>.13-41 +1 421-73 * ~1.00-00 + .I.u<::::>.,/,;.,-rU 1t 1:),)0·.J 9 428.22 +4 552·76 + 000 9 895·81 +3 113·38 - 0·00 *12 245·18 +002 57 276.00 +1 439·38 * 45 011·25 +30 000·00 + 39 413·34 +466 400.00 +2 670·03 + 25 271·63 +320 018·12 +2 553·36 - 26 154·11 +91 160.22 +002 45 612·41 +162 214·55 +116·61 * 48 140·36 +l~160·00 + 35 374·64 +1 al~417.0 0 +15 173·39 + 10 000·00 +477·11 +12 959·02 - 50 000·00 +012 002 75 000·00 +1 273 753·41 * 2 214·37 * 29 557·50 + 30 000·00 + 7 096-56 + 60 000·00 +2 023·93 +5 1l~0·80 - 40 000·00 +1 785-11 -002 30 000·00 +002 1 955-76 * 29 185-50 +238·82 * 83 783-65 + 16·66 + 19 000-00 +19 820·91 +001 37 000-00 +11 618-26 -16·66 * 225 000·00 +002 44 100·00 +2 202·11 * 23 764-25 + 021 21 188·28 - 1 021 616-45 *5 014·23 +002 4 513·97 -2 575-97 * 1 021 616·45 +002 50·41 +440·26 *36 325-79 + 002 29 968·80 - 1 027 666-86 *13 565·99 +002 12 121-20 -6 356·99 * 1 027 666-86 +002 2 139-46 -0"0.7°* 10 889·13 + 002 7 053-50 - "\nr"\r:'r:;?7.lJ";". 002 .", 3 835-63 * " -~vv.U~<!+o-. 60 000 •00 l.+" 26 829.00 t;.-003 466·83 ~2 841 302·98 * 30 000.00 l.t-"t 2 291·83 + 5 700·00 ~2 006 697·73 +564·60 - 225 000·00 12 695·02 -002 10 000·00 l¥1 002 1 727·23 * 19 455·00 vi 1 994 002·-11 * 9 670·00.!:Jy 2 291·83 + 75 000·00 I+-'"'000 564·60 + 50 000·00 £./1 0·00 *002 + 112 969·15 ~ 2 856.1+3 * 1 015 400·00 ii>--2 006 697·73 + 163 600·00 +12 965·02 -1 134·00 + 026 002 1 134·00 + 2 006 697-73 *1 993 132·11 *1 134·00 + 003 2 006 697·73 +1 993 732·71 +3 402·00 * 657 8l~1-68 +12 695·02 + 177 032-57 +002 3 402·00 + 177 032·57 +2 006 427-73 *2 856·43 + 177 032·,57 - 002 005 6 258·43 * 2 841 571·98 *4 118-97 + 2 841 571·98 + 2 856·43 - 2 841 301-98 - 002 002 2 006 427-73 +1 262·54 0 270-·00 *657 841·68 +3 402·00 - 177 032·57 +003 003 2 139·46-* 2 841 301·98 * 12 965·02 + 1 027 666·86 + 12 695·02 -000 4 118·97 + 002 0·00 002* 270·00 * 1 031 785·83 0 489-47 \2 856·43 - 2 006 698·73 +1 000·00 003+ 270·00 -720·00 +1 028 929·40 0 002 880·00 3 l~02·00 - + 2 006 428·73 *455·00 004+ 1 553·44 +1 025 527·40 * 2 006 428·73 +006 657 841·68 +4 118·97 * 177 032·57 + cc:::.c_-~->_ J"(*30 990-11 +004 700-00 +249 902-32 *628 792-57 +003 501 955-00 -37 790-11 *249 902-32 +002 48 817-19 +126 837-57 *37 790-11 +002 7 500-00 +298 719-51 *126 837-57 +1 324-00 +50 195-00 lY1421-73 +298 119-51 -002781-35 +1 326 386-37 +177 032-57 *005 52 632-96 + 48 811-19 *003 1 080 299-82 *30 222-90 ......-- 4 136-33 +30 000-00 :r2620-00 +000 2 800-02 Cf..-- 7 971-85 +0-00 *9 830-34?+3 252-79 +14 107-00 V4749-42 +1 273 753.t~1 +15 704 -16 4-005 52 632-96 +20 246-80 4:--22 736-39 *002 352 000-00 l:J.- 1 326 386-37 0 16 850-00 +f.-.22 736-39 +48 811-19 -30 000-00 c.i:--23 402-32 +003 18 139-96 'it....3 998-16 +1 277 569-18 0 29 557-50 It- 249 902-32 -L~176-00 q..-003 50 136-87 *004 45 000-00 ~ 1 027 666-86 *9 207-00 ..t:-- 30 000-00 -tc...2 042-00 +000 01621000-00 +0-00 *657 841-68 *15 654-95 + ----2 000-00 +13 236-46 + 20 000-00 +10 836-98 ~15 041-25 ~. 3 lOa-aD +19 403-37 ~11 651-28 Lv000-00 +12 124-78 ~-12 965-02 '+20 tfs100000-00 +15 463-91 f-19 673 -OO'~008 501 955-00 +12 981-20 .r- 183 796-95 *8 415-00 4-. 10 452-96 4-0-80 +25 128-00 4--183 796-95 +9 647-43 61-11 540-00 4-----14 024-50 +8 300-34 '4-40 000-00 L.:t"50 136-81 +12 468-18 <*-3 203-46 Lv""1 944-00 +16 940-32 ~8 403-50 £- 012 31 ~t;~-(\,..,• 628 7.92-~-- r--------------------- OFFICE OF THE REGISTER OF WILLS AND .CLERK OF THE ORPHAN'S COURT WASHINGTON COUNTY WASHINGTON,PENNSYLVANIA 15301 Y 1082.71 ff MISCO 20.00 3 TOTL 20.00 6tas13:07MAR.ll ~96~CHECK 20.00 LlJE 04 1.500.00 25.00 27.5 0 1 2.?5 3~0 0 lOa 3.0 .() 7 5.00 2..5 0 0.00 1 0.50 28.0 0 8 2.5 0 .?0 0 1.0 0 2 ~00 1.00 3 3.1 0 65.0 0 1 6.0 0 1.468.89 39.800.00 7 O.0 00.0 0 77.1 0 39.00 2.00 1I 3.916.00 6 2.9 5 145.50 5 5.00 l.J97.00 126.00 8.36.64 126.86 561.75 192.65 178.89 164.19 662.00 413.27 236.49 26.89 115.00 27.00 298.92 297.23 66 O.OD 5.0 1 9.1 7 2.0 .3 4.{}U 7 3.00 2.22 O~O 0 3.8 7 4.8 8 &931.97 1 4 6.4 7 1..5 9 T 1.500.00 2 5.0 0 27.5 0 1 2.7 5 3.0 0 100 3.00 7 5.00 2..5 0 0.0 0 1 0.5 0 28.00 82.50 3.0 0 1.00 22.00 1.00 3 3.10 65-00 1 6.00 1.4 6 8.89 .3 9.8 0 Q 00 7 O.00 0.00 77.1 0 .00 T 25.02210 2.27 5)B865 0 431)381.87 2)732;290.47 T 39.0 0 2,00 3.916.00 6 2.9 .5 145;50 55.00 1.39"7.00 12~(}O 8 .}6.6 4- 126.86 561.75 1 92.65 178.89 1 6 4..1 9 682.00 413.27 236.49 26.89 115.00 27.00 2 98.9 2 29223 6 6 ().00 5.019.14 .3 2.034.00 7 3.0 0 2.22 0..0 0: 3.874.88 8.93t97 14B.471.59T THE UNION NATIONAL BANK 0'PITTS.URQH POST OFFICE BOX NO.837 PITTSBURGH,PA.15230 \~..~~ Mr.Guy Rogers Register of Wills Office Washington County ~I:)Q.i,Pennsylvania /S ~b I I J::-. ~a~0<"1a1LLI,'0.LL,0.1 WILL of LEO DONALD GUTTMAN ,j ! " I,LEO DONALD GUTTMAN,of the City of Charleroi, Washington County,Pennsylvania,declare this to be my last will and revoke any and all wills previously made by me. ARTICLE ONE.I give and bequeath all my clothing, jewelry,furniture,automobiles and other articles of personal or household use,equipment and ornament,together with any policies of insurance thereon,to my wife,MARGARET BISSELL GUTTMAN,if she shall survive me.If my said wife shall not survive me,I give and bequeath such property to my son,MAURY S.GUTTMAN,if he shall survive me. ARTICLE TWO.If my wife,MARGARET BISSELL GUTTMAN, shall survive me,I devise and bequeath to the trustees named in Article Six hereof,in trust,a fractional share of the residue of my estate determined as follows:The numerator of the said fraction shall equal the value of one-half (1/2)of my adjusted gross estate as finally determined for federal estate tax purposes,reduced by any property or interests that qualify for the federal estate tax marital deduction and that pass or shall have passed to my said wife otherwise than under this Article of my will;the denominator of said fraction shall equal the value of my residuary estate.Such fractional share shall be determined on the basis of the values finally determined for federal estate tax purposes,shall include,to the extent possible,only assets that,under the Internal Revenue Code applicable to my estate, qualify for the said marital deduction,and upon which there is available no foreign death tax credit,and shall be undiminished by any estate,inheritance,or other death taxes. If my said wife and I shall die under such circumstances " that it is impossible to determine which of us survived,it shall be conclusively presumed and this will shall be construed as if my said wife had survived me. The trustees shall hold,manage,invest and reinvest the trust property,shall collect the income thereof and shall distribute the net income in quarter-annual installments,or more frequently if the trustees deem it advisable,to or for the benefit of my said wife during her lifetime.If the income thereof shall be less than Twenty-five Thousand Dollars ($25,000.00)per year,the trustees shall distribute to my said wife such amounts from the principal of the trust as shall be necessary to increase the aggregate distributions to my said wife,including income distributions,to Twenty-five Thousand Dollars ($25,000.00)per year.In addition,the trustees in their discretion may distribute to or for the benefit of my said wife so much of the principal of the property held in trust for her as they shall from time to time deem necessary or proper for emergencies involving her health,maintenance and support. On the death of my said wife,the trustees shall distribute the principal of the trust property to such persons (including the estate of my said wife)and in such proportions as my said wife may by her last will appoint by specific reference to this power of appointment.In the event of her failure so to exercise this power,the remaining principal of the trust property shall be added to and become a part of the principal of the trust created under the terms of Article Three of this will to be continued in trust or distributed as provided therein. -2- ARTICLE THREE.I devise and bequeath the balance of the residue of my estate,or all of the residue if my said wife ~hall not survive me,to the trustees named in Article Six hereof in trust for the following purposes:Until my son,MAURY S. GUTTMAN,shall reach the age of forty (40)years,the trustees shall distribute to my said son so much of the net income as shall not exceed the sum of Twenty-five Thousand Dollars ($25,000.00) per year.Any income in excess of Twenty-five Thousand Dollars ($25,000.00)per year shall be added to the principal of the property held in trust for him.The trustees shall also distribute to my said son so much of the principal of the property held in trust for him as he shall certify to be necessar for the establishment or continuation of any business in which he may wish to engage,but such distribution or distributions shall not exceed One Hundred Thousand Dollars ($100,000.00)in the aggregate. When my said son shall reach the age of forty (LI-O) years,the trustees shall thereafter distribute all of the income from the property held in trust for him to my said son.The trustees shall also distribute to or for the benefit of my said son so much of the principal of such property as he shall certify to be necessary for any emergency or for his personal use,but such distribution shall not exceed in the aggregate the sum of Twenty-five Thousand Dollars ($25,000.00)in anyone calendar year. At any time during the continuation of the said trust, the trustees in their discretion may distribute to or for the benefit of my said son so much of the principal of the property held in trust for him as they shall from time to time deem -3- necessary or proper for his health,maintenance and support. On the death of my said son,the trustees shall distribute any property then held in trust for him to his issue then living,per stirpes,subject to the provisions of Article Four hereof;if he shall have no issue then living or,if at the time of the death of the survivor of my wife and me,I shall have no issue then living,the trustees shall distribute the trust property to the children then living of my brothers.,JESSE B. GUTTMAN and HOWARD S.GUTTMAN,per capita,or the survivor of such children. ARTICLE FOUR.If any beneficiary of my estate is a minor,I devise and bequeath the share of my estate to which such minor would otherwise have been entitled to the trustees named in Article Six hereof in trust for such minor.The trustees shall distribute to the guardian of the person of such minor or, in the trustees'discretion,shall apply directly so much of the net income,and if the net income is insufficient,so much of the principal of the share so held in trust for such minor,as the trustees may deem necessary or advisable for the comfortable support,education and welfare of such minor.The trustees shall accumulate any surplus net income and add the same to the principal of the trust.When such minor reaches the age of twenty-one (21)years,the trustees shall distribute to him the principal of such share and any accumulated income thereon, absolutely and free from all trusts.If any such minor shall die before reaching the age of twenty-one (21)years,1;he property held in trust for him,including any accumulation of income thereon,shall be distributed to such person or persons as are entitled to his estate. -4- " ARTICLE FIVE.Except as otherwise provided herein, 1 I ! during the continuance of any of the trusts created under the provisions of this will,and thereafter until the property is distributed to and received by the beneficiaries hereunder,the principal sums thus held in trust for the beneficiaries, respectively,and the income thereof shall not be subject to or liable for any contracts,debts,engagements,liabilities or torts of such beneficiaries,or any of them,now or hereafter made,contracted,incurred or committed,but shall be absolutely free from the same,and the said beneficiaries shall have no power to sell,assign or encumber all or any part of said principal sums or their interest therein,respectively,or the income thereof,or to anticipate the said income. ARTICLE SIX.I appoint my brother,HOWARD S.GUTTMAN, and THE UNION NATIONAL BANK OF PITTSBURGH,as executors and trustees of all trusts created by this will.In the event of the inability or refusal of my said brother to act or to continue as an executor or trustee,I direct that no successor shall be appointed.No executor or trustee acting hereunder shall be required to give bond or other security for the faithful performance of his or its duties. I authorize my executors and trustees and any successor or successors,in their sole discretion,to exercise the following powers in addition to those given by law: (a) (b) To accept,retain and invest in any real or personal property,inclUding stock of The Union National Bank of Pittsburgh,without restriction to legal investments; To sell,eXChange,partition or lease for any period of time any real or personal property and to give options therefor for cash or credit,with or without security; -5- .:" (c) (d) (e) (f) (g) (h) To borrow money from any person including any fiduciary acting hereunder,and to mortgage or pledge any real or personal property; To compromise,arbitrate or abandon claims; To make distribution in cash or in kind or partly in each; To administer a separate trust for each beneficiary hereunder,but for convenient administration such separate trusts may be combined in one common trust fund,each separate trust having an undivided interest therein; To make such elections,decisions,concessions and settlements in connection with all income, estate,inheritance,gift or other tax returns and the payment of such taxes,without obligation to adjust the distributive share of income or principal of any person thereby affected. To conduct any business in which I am engaged or in which I have an interest at the time of my death for such periods as are deemed advisable with power to borrow money and pledge the assets of the business and to do all other acts which I,in my lifetime,could have done or to delegate such powers to any partner,manager or employee without liability for any loss occurring therein. ARTICLE SEVEN.All estate taxes,inheritance taxes, transfer taxes and other taxes of a similar nature payable by reason of my death to any government or subdivision thereof upon or with respect to any property subject to any such tax shall be paid by my executors out of the principal of that portion of my estate disposed of by Article Three,and all interest with respect to any such taxes shall be paid by my ,executors out of the income or principal or partly out of the income and partly out of the principal of such portion of my estate,in the absolute discretion of my executors,without reimbursement from or apportionment among the beneficiaries.,rec ipients or owners of such property for any such taxes or interest.Notwithstanding the foregoing directions,my executors may decline to pay all or -6- rIi y,.('"".:,",.." any part of the inheritance taxes with respect to any remainder interest created under this will if,in their discretion,they determine such action to be for the best interests of my estate. seal this IN WITNESS WHERE9F I have hereunto set my hand and -.;..A!tJ !,f-,.,1~1fIedayof~o~el"',1967. (SEAL) Signed,sealed,pUblished and declared by the above named LEO DONALD GUTTMAN as and for his last will,in the presence of us and each of us,who,at his request and in his presence and in the presence of each other,have hereunto subscribed our names as witnesses thereof the day and year last above written. -7-