Free Model Charitable Remainder Unitrust - Pennsylvania

Model Charitable Remainder Unitrust Account

IN THE COURT OF COMMON PLEAS OF ____________ COUNTY, PA. ORPHANS' COURT DIVISION NO. 5678 OF 2006

FIRST ACCOUNT FOR THE TRUST ESTABLISHED UNDER DEED DATED JANUARY 1, 2001 OF JOHN DOE AND JANE DOE, SETTLORS

STATED BY UPSTANDING TRUST COMPANY, TRUSTEE

Date of Deed: Date of First Receipt of Funds: Accounting for the period:

01/01/01 01/01/01 01/01/01 to 12/31/05

Purpose of Account: The Trustee offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information, questions or objections can be discussed with:

[Name of Counsel] [Address] [Address] [Telephone Number] Supreme Court I.D. No. ______

SUMMARY OF ACCOUNT

PAGES PRINCIPAL Receipts Net Gain on Sales or Disposition Less Disbursements: Administration - Misc. Exp. Transfers to Income Balance before Distributions Principal Balance on Hand For Information: Investments Made Changes in Holdings INCOME Receipts Less Disbursements Balance before Distributions Distributions to Beneficiaries Income Balance on Hand 3 4 $ $ 5 5 6 $ 267,313.00 2,127,000.00 $ $ 10,649,000.00 138,618.87 10,787,618.87

-2,394,313.00 8,393,305.87 8,393,305.87

7 8-9

10-16 17 18-19 20

$ $ $

2,717,875.03 -120,059.00 2,597,816.03 -2,597,118.60 697.43

COMBINED BALANCE ON HAND

$ 8,394,003.30 ================

Unitrust Statement(s) Verification

21-28 29

- 2 -

PRINCIPAL RECEIPTS Received from John Doe and Jane Doe, Settlors, for the uses and purposes as set forth in their Deed of Trust dated January 1, 2001, consisting of:

Bonds $500,000 AT&T Corp., 4.25% due 07/01/2001 $500,000 U.S. Treasury Bond, 3% due 10/01/2003

$

490,000.00

489,000.00

Common Stocks 25,000 Shs. Exxon Mobil Corp. 22,000 Shs. General Electric Co. 34,000 Shs. General Motors Corp. 15,000 Shs. Int'l Business Machines Corp. 20,000 Shs. Microsoft Corp 2,125,000.00 1,320,000.00 2,550,000.00

1,875,000.00 1,400,000.00

$ 10,249,000.00 Cash 400,000.00

TOTAL PRINCIPAL RECEIPTS

$ 10,649,000.00 ===============

- 3 -

PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS

GAIN

LOSS

07/01/01 $500,000 AT&T Corp., 4.25% due 07/01/2001 Net Proceeds 500,000.00 Acquisition Value 490,000.00 01/04/02 34,000 Shs. General Motors Corp. Net Proceeds 2,255,981.00 Acquisition Value 2,550,000.00 07/01/02 5,000 Shs. Exxon Mobil Corp. Net Proceeds 491,234.00 Acquisition Value 425,000.00 12/22/02 10,000 Shs. General Electric Co. Net Proceeds 895,786.00 Acquisition Value 600,000.00 10/02/03 $500,000 U.S. Treasury Bond, 3% due 10/01/2003 Net Proceeds 500,000.00 Acquisition Value 489,000.00 03/15/04 4,000 Shs. Vanguard S&P 500 Index Fund Net Proceeds 466,155.00 Acquisition Value 421,064.84 11/15/04 10,000 Shs. Vanguard Long Term Bond Fund Net Proceeds 149,885.00 Acquisition Value 150,357.29 12/15/05 500 Shs. Int'l Business Machines Corp. Net Proceeds 67,500.00 Acquisition Value 62,500.00

$

10,000.00

$

294,019.00

66,234.00

295,786.00

11,000.00

45,090.16

472.29

5,000.00

TOTALS

$ 433,110.16 $ 294,491.29 ============== ============== $ 138,618.87 ==============

NET GAIN TRANSFERRED TO SUMMARY

- 4 -

DISBURSEMENTS OF PRINCIPAL ADMINISTRATION - MISC. EXPENSES Upstanding Trust Company Trustee's Fees 03/30/01 06/30/01 09/30/01 12/30/01 03/30/02 06/30/02 09/30/02 12/30/02 03/30/03 06/30/03 09/30/03 12/30/03 03/30/04 06/30/04 09/30/04 12/30/04 03/30/05 06/30/05 09/30/05 12/30/05 TRANSFERS FROM PRINCIPAL TO INCOME TO SATISFY UNITRUST PAYOUTS 12/30/01 12/30/02 12/30/03 12/30/04 12/30/05 471,000.00 448,000.00 424,000.00 400,000.00 384,000.00

$

13,088.00 13,125.00 12,297.00 13,045.00 13,129.00 13,155.00 13,269.00 13,400.00 13,515.00 13,532.00 13,615.00 13,718.00 14,543.00 14,618.00 14,624.00 14,655.00 12,458.00 12,516.00 12,499.00 12,512.00 $

267,313.00 $

267,313.00

2,127,000.00

TOTAL DISBURSEMENTS OF PRINCIPAL

$ 2,394,313.00 ===============

- 5 -

PRINCIPAL BALANCE ON HAND FIDUCIARY ACQUISITION VALUE

VALUE AT 12/31/2005

Bonds $500,000 U.S. Treasury Bond, 3.5% due 01/01/2009 Common Stocks 20,000 Shs. Exxon Mobil Corp. 12,000 Shs. General Electric Co. 14,500 Shs. Int'l Business Machines Corp. 20,000 Shs. Microsoft Corp 50,000 Shs. Xerox Corporation Mutual Funds 56,500 Shs. Vanguard Long Term Bond Fund 5,500 Shs. Vanguard S&P 500 Index Fund $ Upstanding Trust Company Money Market 850,522.00 616,654.00 9,591,056.00 $ 58,213.00 849,518.71 578,964.16 8,335,092.87 58,213.00 1,936,589.00 998,787.00 1,700,000.00 720,000.00

$

498,656.00 $

498,765.00

1,965,632.00 1,932,652.00 791,564.00

1,812,500.00 1,400,000.00 775,345.00

TOTAL PRINCIPAL BALANCE ON HAND

$ 9,649,269.00 $ 8,393,305.87 ================== ==================

- 6 -

PRINCIPAL INVESTMENTS MADE 01/06/02 01/06/02 12/27/02 12/29/02 66,500 Shs. Vanguard Long Term Bond Fund $ 9,500 Shs. Vanguard S&P 500 Index Fund 50,000 Shs. Xerox Corporation $500,000 U.S. Treasury Bond, 3.5% due 01/01/2009 999,876.00 1,000,029.00 775,345.00

498,765.00 $ 3,274,015.00 ===============

TOTAL PRINCIPAL INVESTMENTS MADE

- 7 -

CHANGES IN PRINCIPAL HOLDINGS ACCOUNT VALUE Exxon Mobil Corp. 25,000 Shs. Received from Settlors 07/01/02 5,000 Shs. Sold 20,000 Shs. =================== General Electric Co. 22,000 Shs. Received from Settlors 12/22/02 10,000 Shs. Sold 12,000 Shs. =================== Int'l Business Machines Corp. 15,000 Shs. Received from Settlors 12/15/05 500 Shs. Sold 14,500 Shs. =================== Vanguard Long Term Bond Fund 01/06/02 11/15/04 66,500 Shs. Invested 10,000 Shs. Sold 56,500 Shs. =================== $ 999,876.00 -150,357.29 849,518.71 $ 1,875,000.00 -62,500.00 1,812,500.00 $ 1,320,000.00 -600,000.00 720,000.00 $ 2,125,000.00 -425,000.00 1,700,000.00

$

==================

$

==================

$

==================

$

==================

- 8 -

CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Vanguard S&P 500 Index Fund 01/06/02 03/15/04 9,500 Shs. Invested 4,000 Shs. Sold 5,500 Shs. =================== $ 1,000,029.00 -421,064.84 578,964.16

$

==================

- 9 -

RECEIPTS OF INCOME

AT&T Corp., 4.25% due 07/01/2001 01/04/01 Interest $500,000 07/04/01 Interest $500,000 Exxon Mobil Corp. 02/14/01 05/14/01 08/14/01 11/14/01 02/14/02 05/14/02 08/14/02 11/14/02 02/14/03 05/14/03 08/14/03 11/14/03 02/14/04 05/14/04 08/14/04 11/14/04 02/14/05 05/14/05 08/14/05 11/14/05 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 25,000 25,000 25,000 25,000 25,000 25,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. $ 500.00 500.00 500.00 500.00 500.00 500.00 400.00 400.00 400.00 400.00 400.00 400.00 400.00 420.00 420.00 420.00 420.00 420.00 420.00 420.00 $ 10,625.00 10,625.00 $

21,250.00

8,740.00

General Electric Co. 01/17/01 04/17/01 07/17/01 10/17/01 01/17/02 04/17/02 07/17/02 10/17/02 01/17/03 04/17/03 07/17/03 10/17/03 01/17/04 04/17/04 07/17/04 10/17/04 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. FORWARD $ 2,860.00 2,860.00 2,860.00 2,860.00 2,860.00 2,860.00 2,860.00 2,860.00 1,560.00 1,560.00 1,560.00 1,560.00 1,560.00 1,560.00 1,560.00 1,560.00 35,360.00 $ 29,990.00

$

- 10 -

RECEIPTS OF INCOME (cont'd) FORWARD $ 35,360.00 $ 29,990.00

General Electric Co. (cont'd) 01/17/05 04/17/05 07/17/05 10/17/05 Dividend Dividend Dividend Dividend 12,000 12,000 12,000 12,000 Shs. Shs. Shs. Shs. 1,560.00 1,560.00 1,560.00 1,560.00

41,600.00

General Motors Corp. 01/06/01 04/06/01 07/06/01 10/06/01 Dividend Dividend Dividend Dividend 34,000 34,000 34,000 34,000 Shs. Shs. Shs. Shs. $ 1,700.00 1,700.00 1,700.00 1,700.00

6,800.00

Int'l Business Machines Corp. 03/04/01 06/04/01 09/04/01 12/04/01 03/04/02 06/04/02 09/04/02 12/04/02 03/04/03 06/04/03 09/04/03 12/04/03 03/04/04 06/04/04 09/04/04 12/04/04 03/04/05 06/04/05 09/04/05 12/04/05 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. $ 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00 1,950.00

39,000.00

Microsoft Corp 02/08/01 05/08/01 08/08/01 11/08/01 Dividend Dividend Dividend Dividend 20,000 20,000 20,000 20,000 Shs. Shs. Shs. Shs. FORWARD $ 2,600.00 2,600.00 2,600.00 2,600.00 10,400.00 $ 117,390.00

$

- 11 -

RECEIPTS OF INCOME (cont'd) FORWARD $ 10,400.00 $ 117,390.00

Microsoft Corp (cont'd) 02/08/02 05/08/02 08/08/02 11/08/02 02/08/03 05/08/03 08/08/03 11/08/03 02/08/04 05/08/04 08/08/04 11/08/04 02/08/05 05/08/05 08/08/05 11/08/05 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00

52,000.00

U.S. Treasury Bond, 3% due 10/01/2003 04/10/01 10/10/01 04/10/02 10/10/02 04/10/03 10/01/03 Interest Interest Interest Interest Interest Interest $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $ 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00

45,000.00

U.S. Treasury Bond, 3.5% due 01/01/2009 01/06/03 07/06/03 01/06/04 07/06/04 01/06/05 07/06/05 Interest Interest Interest Interest Interest Interest $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $ 8,750.00 8,750.00 8,750.00 8,750.00 8,750.00 8,750.00

52,500.00

Upstanding Trust Company Money Market 02/01/01 03/01/01 04/01/01 05/01/01 Interest Interest Interest Interest FORWARD $ 1,375.12 1,122.22 1,253.22 998.32 4,748.88 $ 266,890.00

$

- 12 -

RECEIPTS OF INCOME (cont'd) FORWARD $ 4,748.88 $ 266,890.00

Upstanding Trust Company Money Market (cont'd) 06/01/01 07/01/01 08/01/01 09/01/01 10/01/01 11/01/01 12/01/01 01/01/02 02/01/02 03/01/02 04/01/02 05/01/02 06/01/02 07/01/02 08/01/02 09/01/02 10/01/02 11/01/02 12/01/02 01/01/03 02/01/03 03/01/03 04/01/03 05/01/03 06/01/03 07/01/03 08/01/03 09/01/03 10/01/03 11/01/03 12/01/03 01/01/04 02/01/04 03/01/04 04/01/04 05/01/04 06/01/04 07/01/04 08/01/04 09/01/04 10/01/04 Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest FORWARD $ 955.67 996.22 922.87 498.80 785.32 811.32 800.20 1,795.60 1,567.22 1,223.00 1,119.00 1,223.00 1,001.75 1,301.75 901.75 1,002.34 1,212.34 1,022.34 955.66 1,101.00 1,122.00 1,121.00 1,133.00 1,119.00 1,122.00 1,211.00 1,201.00 1,233.00 1,241.00 1,222.00 1,234.00 1,112.00 1,122.00 1,111.00 950.00 1,003.00 996.00 1,099.00 1,101.00 993.00 897.00 49,289.03 $ 266,890.00

- 13 -

RECEIPTS OF INCOME (cont'd) FORWARD $ 49,289.03 $ 266,890.00

Upstanding Trust Company Money Market (cont'd) 11/01/04 12/01/04 01/01/05 02/01/05 03/01/05 04/01/05 05/01/05 06/01/05 07/01/05 08/01/05 09/01/05 10/01/05 11/01/05 12/01/05 Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest Interest 1,022.00 998.00 904.00 997.00 1,022.00 1,012.00 957.00 1,040.00 1,021.00 1,012.00 1,066.00 921.00 991.00 1,010.00

63,262.03

Vanguard Long Term Bond Fund 02/04/02 03/04/02 04/04/02 05/04/02 06/04/02 07/04/02 08/04/02 09/04/02 10/04/02 11/04/02 12/04/02 01/04/03 02/04/03 03/04/03 04/04/03 05/04/03 06/04/03 07/04/03 08/04/03 09/04/03 10/04/03 11/04/03 12/04/03 01/04/04 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. FORWARD $ 3,755.00 3,821.00 3,966.00 3,884.00 3,892.00 3,921.00 3,866.00 3,904.00 3,916.00 3,924.00 3,911.00 3,922.00 3,916.00 3,945.00 3,941.00 3,933.00 3,922.00 3,922.00 3,966.00 3,961.00 3,955.00 3,960.00 3,962.00 3,855.00 93,920.00 $ 330,152.03

$

- 14 -

RECEIPTS OF INCOME (cont'd) FORWARD $ 93,920.00 $ 330,152.03

Vanguard Long Term Bond Fund (cont'd) 02/04/04 03/04/04 04/04/04 05/04/04 06/04/04 07/04/04 08/04/04 09/04/04 10/04/04 11/04/04 12/04/04 01/04/05 02/04/05 03/04/05 04/04/05 05/04/05 06/04/05 07/04/05 08/04/05 09/04/05 10/04/05 11/04/05 12/04/05 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 66,500 56,500 56,500 56,500 56,500 56,500 56,500 56,500 56,500 56,500 56,500 56,500 56,500 56,500 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. 3,801.00 3,812.00 3,790.00 3,780.00 3,781.00 3,766.00 3,758.00 3,741.00 3,722.00 3,716.00 3,157.00 3,044.00 3,019.00 3,044.00 3,115.00 3,111.00 3,099.00 3,111.00 3,116.00 3,115.00 3,122.00 3,132.00 3,121.00

171,893.00

Vanguard S&P 500 Index Fund 04/05/02 07/05/02 10/05/02 01/05/03 04/05/03 07/05/03 10/05/03 01/05/04 04/05/04 07/05/04 10/05/04 01/05/05 04/05/05 07/05/05 10/05/05 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 9,500 9,500 9,500 9,500 9,500 9,500 9,500 9,500 5,500 5,500 5,500 5,500 5,500 5,500 5,500 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. FORWARD $ 3,756.00 3,922.00 4,015.00 4,111.00 4,221.00 4,234.00 4,311.00 4,223.00 4,111.00 4,005.00 4,055.00 4,120.00 4,234.00 4,001.00 4,011.00 $

61,330.00 563,375.03

- 15 -

RECEIPTS OF INCOME (cont'd) FORWARD $ 563,375.03

Xerox Corporation 04/05/03 07/05/03 10/05/03 01/05/04 04/05/04 07/05/04 10/05/04 01/05/05 04/05/05 07/05/05 10/05/05 Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend Dividend 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. Shs. $ 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00

27,500.00

Transfers from Principal to Income to Satisfy Unitrust Payouts 12/30/01 12/30/02 12/30/03 12/30/04 12/30/05 TOTAL RECEIPTS OF INCOME $ 471,000.00 448,000.00 424,000.00 400,000.00 384,000.00

2,127,000.00 $ 2,717,875.03 ===============

- 16 -

DISBURSEMENTS OF INCOME Upstanding Trust Company Trustee's Fees 03/30/01 06/30/01 09/30/01 12/30/01 03/30/02 06/30/02 09/30/02 12/30/02 03/30/03 06/30/03 09/30/03 12/30/03 03/30/04 06/30/04 09/30/04 12/30/04 03/30/05 06/30/05 09/30/05 12/30/05 TOTAL DISBURSEMENTS OF INCOME

$

5,609.00 5,715.00 5,823.00 5,912.00 6,010.00 6,211.00 6,055.00 6,234.00 6,311.00 6,312.00 6,322.00 6,335.00 6,431.00 6,455.00 6,459.00 6,466.00 5,340.00 5,342.00 5,351.00 5,366.00 $

120,059.00

$ 120,059.00 ==============

- 17 -

DISTRIBUTIONS OF INCOME TO BENEFICIARIES 2001 Unitrust Payouts Jane Doe 03/30/01 06/30/01 09/30/01 12/30/01 John Doe 03/30/01 06/30/01 09/30/01 12/30/01 2002 Unitrust Payouts Jane Doe 03/30/02 06/30/02 09/30/02 12/30/02 John Doe 03/30/02 06/30/02 09/30/02 12/30/02 2003 Unitrust Payouts Jane Doe 03/30/03 06/30/03 09/30/03 12/30/03 John Doe 03/30/03 06/30/03 09/30/03 12/30/03

$

66,556.25 66,556.25 66,556.25 66,556.25

$

266,225.00

$

66,556.25 66,556.25 66,556.25 66,556.25

266,225.00 $

532,450.00

$

67,378.02 67,378.02 67,378.02 67,378.02

$

269,512.08

$

67,378.02 67,378.02 67,378.02 67,378.02

269,512.08

539,024.16

$

68,486.86 68,486.87 68,486.86 68,486.87

$

273,947.46

$

68,486.87 68,486.86 68,486.87 68,486.86

273,947.46

547,894.92

FORWARD

$

1,619,369.08

- 18 -

DISTRIBUTIONS OF INCOME TO BENEFICIARIES (cont'd) FORWARD $ 1,619,369.08

2004 Unitrust Payouts Jane Doe 03/30/04 06/30/04 09/30/04 12/30/04 John Doe 03/30/04 06/30/04 09/30/04 12/30/04 2005 Unitrust Payouts Jane Doe 03/30/05 06/30/05 09/30/05 12/30/05 John Doe 03/30/05 06/30/05 09/30/05 12/30/05

$

62,709.55 62,709.55 62,709.55 62,709.55

$

250,838.20

$

62,709.55 62,709.55 62,709.55 62,709.55

250,838.20

501,676.40

$

59,509.14 59,509.14 59,509.14 59,509.14

$

238,036.56

$

59,509.14 59,509.14 59,509.14 59,509.14

238,036.56

476,073.12 $ 2,597,118.60 ===============

TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES

- 19 -

INCOME BALANCE ON HAND FIDUCIARY ACQUISITION VALUE

VALUE AT 12/31/2005

Upstanding Trust Company Money Market

$

697.43 $

697.43

TOTAL INCOME BALANCE ON HAND

$ 697.43 $ 697.43 ================== ==================

- 20 -

UNITRUST STATEMENT Fair Market Value as of 01/01/2001 MARKET VALUE Bonds $500,000 AT&T 4.25% due 07/01/2001 $500,000 US Treasury Bond 3% due 10/01/2003 Common Stocks 25,000 Shs. Exxon Mobil Corp. 22,000 Shs. General Electric Co. 34,000 Shs. General Motors Corp. 15,000 Shs. Int'l Business Machines Corp. 20,000 Shs. Microsoft Corp $ Cash Principal Cash Income Cash Fair Market Value Payout Rate 2001 Unitrust Payout Number of Payments per Year Installment Amount Paid as Follows: Jane Doe John Doe 50.000% 50.000% $ $ 66,556.25 66,556.25 $ $ $ 400,000.00 .00 10,649,000.00 5.000% 532,450.00 4 133,112.50 2,125,000.00 1,320,000.00 2,550,000.00 $ 490,000.00

489,000.00

1,875,000.00 1,400,000.00 10,249,000.00

- 21 -

UNITRUST STATEMENT Fair Market Value as of 01/01/2002 MARKET VALUE Bonds $500,000 US Treasury Bond 3% due 10/01/2003 Common Stocks 25,000 Shs. Exxon Mobil Corp. 22,000 Shs. General Electric Co. 34,000 Shs. General Motors Corp. 15,000 Shs. Int'l Business Machines Corp. 20,000 Shs. Microsoft Corp $ Cash Principal Cash Income Cash Fair Market Value Payout Rate 2002 Unitrust Payout Number of Payments per Year Installment Amount Paid as Follows: Jane Doe John Doe 50.000% 50.000% $ $ 67,378.02 67,378.02 $ $ $ 377,445.00 700.28 10,780,483.28 5.000% 539,024.16 4 134,756.04 2,460,000.00 1,461,321.00 2,316,000.00

$

488,965.00

2,001,020.00 1,675,032.00 10,402,338.00

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UNITRUST STATEMENT Fair Market Value as of 01/01/2003 MARKET VALUE Bonds $500,000 US Treasury Bond 3% due 10/01/2003 $500,000 US Treasury Bond 3.5% due 01/01/2009 Common Stocks 20,000 Shs. Exxon Mobil Corp. 12,000 Shs. General Electric Co. 15,000 Shs. Int'l Business Machines Corp. 20,000 Shs. Microsoft Corp 50,000 Shs. Xerox Corporation Mutual Funds 66,500 Shs. Vanguard Long Term Bond Fund 9,500 Shs. Vanguard S&P 500 Index Fund $ Cash Principal Cash Income Cash Fair Market Value Payout Rate 2003 Unitrust Payout Number of Payments per Year Installment Amount $ $ $ 245,478.00 384.87 10,957,897.87 5.000% 547,894.89 4 136,973.72 1,002,122.00 1,101,210.00 10,712,035.00 1,853,265.00 975,895.00

$

491,253.00

498,765.00

1,991,897.00 1,999,787.00 797,841.00

FORWARD - 23 -

$

136,973.72

UNITRUST STATEMENT (cont'd) FORWARD Paid as Follows: Jane Doe John Doe 50.000% 50.000% $ $ 68,486.86 68,486.86 $ 136,973.72

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UNITRUST STATEMENT Fair Market Value as of 01/01/2004 MARKET VALUE Bonds $500,000 US Treasury Bond 3.5% due 01/01/2009 Common Stocks 20,000 Shs. Exxon Mobil Corp. 12,000 Shs. General Electric Co. 15,000 Shs. Int'l Business Machines Corp. 20,000 Shs. Microsoft Corp 50,000 Shs. Xerox Corporation Mutual Funds 66,500 Shs. Vanguard Long Term Bond Fund 9,500 Shs. Vanguard S&P 500 Index Fund $ Cash Principal Cash Income Cash Fair Market Value Payout Rate 2004 Unitrust Payout Number of Payments per Year Installment Amount $ $ $ 267,098.00 -4,508.05 10,033,527.95 5.000% 501,676.40 4 125,419.10 997,898.00 988,787.00 9,770,938.00 1,911,221.00 954,668.00

$

497,888.00

1,801,254.00 1,852,325.00 766,897.00

FORWARD

$

125,419.10

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UNITRUST STATEMENT (cont'd) FORWARD Paid as Follows: Jane Doe John Doe 50.000% 50.000% $ $ 62,709.55 62,709.55 $ 125,419.10

- 26 -

UNITRUST STATEMENT Fair Market Value as of 01/01/2005 MARKET VALUE Bonds $500,000 US Treasury Bond 3.5% due 01/01/2009 Common Stocks 20,000 Shs. Exxon Mobil Corp. 12,000 Shs. General Electric Co. 15,000 Shs. Int'l Business Machines Corp. 20,000 Shs. Microsoft Corp 50,000 Shs. Xerox Corporation Mutual Funds 56,500 Shs. Vanguard Long Term Bond Fund 5,500 Shs. Vanguard S&P 500 Index Fund $ Cash Principal Cash Income Cash Fair Market Value Payout Rate 2005 Unitrust Payout Number of Payments per Year Installment Amount $ $ $ 424,698.00 -4,918.45 9,521,462.55 5.000% 476,073.13 4 119,018.28 847,838.00 544,500.00 9,101,683.00 1,899,562.00 932,221.00

$

498,656.00

1,755,696.00 1,856,665.00 766,545.00

FORWARD

$

119,018.28

- 27 -

UNITRUST STATEMENT (cont'd) FORWARD Paid as Follows: Jane Doe John Doe 50.000% 50.000% $ $ 59,509.14 59,509.14 $ 119,018.28

UPSTANDING TRUST COMPANY

By________________________________________ Walter Trust, Vice President Trustee under Deed dated January 1, 2001 of John Doe and Jane Doe, Settlors

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VERIFICATION

WALTER TRUST, Vice President of Upstanding Trust Company, Trustee under Deed dated January 1, 2001 of JOHN DOE and JANE DOE, Settlors, hereby declares under oath that said Trustee has fully and faithfully discharged the duties of its office; that the foregoing First 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; and that no taxes are presently due from the Trust on account of its status as a charitable remainder unitrust. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities.

_____________________________ Walter Trust

Dated:________________________________

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