1968 Death & Legacy

WILL BOOK M, PAGE 435

AND CODICILS THERETO ANNEXEDLAST WILL AND TESTAMENT OF RAYMOND J. FUNKHOUSER, DECEASED

I, Raymond J. Funkhouser, a resident of Ranson, State of West Virginia, do make, publish and declare this my Last Will and Testament, hereby revoking any and former wills and codicils which I have heretofore made.

ITEM I, I direct my Executors to pay, as soon after my death as many be convenient, all of my just debts and specifically direct them to pay any and all debts secured by the assignment or pledge of policies of insurance on my life, it being my intention that the proceeds of all policies of insurance on my life shall pass in full to the beneficiraries thereof, free and clear of any debts for which said policies may be pledged or assigned at the time of my death.

ITEM II. I direct my Executors to pay the expenses of my last illness and my burial expenss, including the cost of the erection of a suitable marker or monument or both, or such of these as I have not provided for during my lifetime; and the amount to be expended for my burial expense shall be in the sole discretion of my Executors, free of any limitation or restriction imposed by law.

ITEM III. I direct my Executors to pay from my residuary estate any and all estate and inheritance taxes, including any interest thereon, and all other governmental charges of whatever nature which may be assessed against any gifts and transfers of property made by me during my lifetime; and against devises and bequests made in this Will, other than the devise and bequest made in Item XIX hereof; and against property which I may own jointly with any other person; and against insurance on my life; it being my intention that such gifts, devises and bequests and such jointly owned property and such insurance shall pass in full to the persons entitled thereto, free and clear of such taxes and charges and that my Executors shall not demand contribution toward such taxes and charges from any peson whomsoever.

ITEM IV. Pursuant to the rights, reserved to me by Article THIRD, Paragraph 1, of an Agreement dated December 29, 1947, and by and between R. J. Funkhouser as Grantor and R. J. Funkhouser, Robert Justin Funkhouser, R. S. Beck, J. R. Wheeler and W. D. Wilkerson as Trustees, I hereby nominate and appoint the Wilmington Trust Company, a corporation organized under the laws of the State of Delaware, as corporation Trustee, to succeed me as Trustee under said Agreement dated December 29, 1947.

ITEM V. I hereby direct my Executors to sell to the Trustees of the Trust created under Agreement dated December 29, 1947, all or such part of the stock of all classes of Funkhouser Industries, Inc., a Maryland corporation, the Ruberoid Co., a New Jersey corporation, and Victor Products Corporation, a Maryland corporation, which may be included in my estate at the time of my death and which the said Trustees may desire to purchase, except such shares of stock as are specifically bequeathed under this Will; such sale or sales to be made whenever and as often during the administration of my estate as the said Trustees shall give notice to my Executors of their desire to purchase any of such shares of stock.

ITEM VI. During my lifetime I have given substantial sums of money to charity and for other worthy causes and have established The R. J. Funkhouser Foundation, Inc., for, the purpose of managing and administering funds and property exclusively for such charitable, scientific, literary and educational purposes as the Board of Trustees may from time to time consider most worthy of aid and assistance.

In order to make additional funds available to the Foundation I have established a trust of four Hundred (400) shares of the capital stock of the Ruberoid Co. and have added to said trust during my lifetime Eleven Hundred (1100) additional shares of said stock and have also added to said trust Four Hundred (400) shares of First Preferred stock of Funkhouser Industries, Inc. and expect to add additional shares of First Preferred stock of Funkhouser Industries to such trust during my lifetime.

It is my intent that the Foundation shall receive at my death from said trust and under my Will an aggregate of One Thousand Five Hundred (1500) shares of Capital stock of The Ruberoid Co. and One Thousand Five Hundred (1500) shares of First Preferred stock of Funkhouser Industries, Inc. and in other activities after my death, I hereby give and bequeath to the R. J. Funkhouser Foundation, Inc. to be held and managed by the Trustees of said Foundation and used together with the income therefrom for its corporate purposes, such number of shares of the First Preferred stock of Funkhouser Industries, Inc, (if any) by which 1,500 shares exceeds the number of said shares which the Foundation receives at my death from the trust established by me during my lifetime as aforesaid.

I direct that a part of the above bequest having a value equal to not less than one-half of the aggregate of (i) the above bequest plus (ii) the shares of the Capital stock of The Ruberoid Co., and the shares of the First Preferred stock of Funkhouser Industries, Inc. received from said trust, together with the income from such part, shall be for use solely for educational, literary, scientific, religious or charitable purposes within the State of West Virginia.

It is my desire that, to the extent that they in their absolute discretion shall deem proper for the corporate purposes of the Foundation, the Trustees of the R. J. Funkhouser Foundation, Inc., make contributions to each the Charles Town General Hospital and Alderson-Broaddus College in an amount to the income from one-half (1/2) of the above-mentioned 1500 shares of The Ruberoid Co., stock and 1500 shares of Funkhouser Industries, Inc. First Preferred stock, or, if either of said stock is sold, from the securities in which the sales proceeds are reinvested.

I direct that any contributions which may be made to the Charles Town General Hospital and Alderson-Broaddus College pursuant to the preceding paragraph of this Item VI shall be made from the part of the bequest, made by this Item VI, and the income therefrom, which I have directed shall be for use solely for educational, literary, scientific, religious or charitable purposes within the State of West Virginia, to the extent of such part and the income therefrom, Subject to such direction as to a use of a part of the bequests made by this Item VI, It is my desire that the Trustees of said Foundation shall continue to make contributions from time to time to the religious institutions which I have supported during my lifetime to the extent that they in their absolute discretion shall deem proper for the corporate purposes of the Foundation.

ITEM VII. I give and bequeath unto my son, Robert Justin Funkhouser, all of my personal jewelry.

ITEM VIII. I direct my Executors to distribute all my personal (except jewelry) and domestic effects among my children living at the time of my death in such a manner as my said Executors, in their absolute discretion, may deem equitable and to the best interests of my children, and to sell any of said effects which in the exercise of their discretion they do not so distribute, with the proceeds from any such sale becoming a part of my residuary estate.

ITEM IX. I give and bequeath the sum of Five Thousand Dollars in cash and One Thousand (1,000) shares of the Second Preferred stock of Funkhouser Industries, Inc. unto each of my children who shall be living at the time of my death.

ITEM X. I give and bequeath unto Kitty Linthicum, the sum of Two Thousand Dollars ($2,000) in cash, provided she be living at the time of my death, otherwise this bequest shall lapse.

ITEM XI. I give and bequeath unto Thelma Hardy the sum of Two Thousand Dollars ($2,000) in cash, provided she be living at the time of my death; otherwise, this bequest shall lapse.

ITEM XIII. I give and bequeath unto Carroll Jones the sum of Two Thousand Dollars ($2,000) in cash, provided he shall be living and still in my employ at the time of my death; otherwise, this bequest shall lapse.

ITEM XIII. I give and bequeath unto William O. Grove the sum of Five Thousand Dollars ($5,000) in cash, provided he be living at the time of my death, otherwise, this bequest shall lapse.

ITEM XIV. I give and bequeath unto Ethel Harris, the sum of One Thousand Dollars ($1,000) in cash and twenty (20) shares of the First Preferred stock of Funkhouser Industries, Inc. provided she be living at the time of my death; otherwise, this entire bequest shall lapse.

ITEM XV. I give and bequeath unto Clarence Newman the sum of One Thousand Dollars ($1,000) in cash, provided he be living at the time of my death; otherwise, this bequest shall lapse.

ITEM XVI. I give and bequeath unto Robert A. Smallwood, Jr. the sum of One Thousand Dollars ($1,000) in cash and fifty (50) shares of the First Preferred stock of Funkhouser Industries, Inc. provided he be living at the time of my death, this entire bequest shall lapse.

ITEM XVII. I give and bequeath unto Huw Williams the sum of One Thousand Dollars ($1,000) in cash and fifty (50) shares of the First Preferred stock of Funkhouser Industries, Inc. provided he be living at the time of my death; otherwise, this entire bequest shall lapse.

ITEM XVIII. I give and bequeath all of the shares of the Second Preferred stock of Funkhouser Industries, Inc. owned by me at the time of my death and not bequeathed by Item IX of this Will, unto the Trustees under the Agreement dated December 29, 1947 by and between R. J. Funkhouser, Grantor, and R. J. Funkhouser, Robert Justin Funkhouser, R. S. Beck, J. K. Wheeler, and W. D. Wilkerson, Trustess, IN TRUST AND CONFIDENCE, NEVERTHELESS, to add the same to the trust fund held under said Agreement dated December 29, 1947, and to hold, manage and administer the same in trust for the uses and purposes and subject to the terms, conditions and powers set forth in said Agreement.

ITEM XIX. All the rest, residue and remainder of my estate, real, personal, and mixed of whatsoever kind and description and wheresoever situate, of which I shall die seized or possessed or to which I shall in any way be entitled at the time of my death, or over which I may have the power of testamentary disposition , I give, devise and bequeath to the Trustees of the said Trust created under Agreement dated December 29, 1947, IN TRUST AND CONFIDENCE, NEVERTHELESS, to add the same to the trust fund held under said Agreement and to hold, manage, and administer the same in trust for the uses and purposes and subject to the terms, conditions and powers set forth in said Agreement.

ITEM XX. Wherever and whenever I have herein provided for payments to be made I direct that said payments shall be made into the hands of the party hereunto, entitled and not into the hands of any other, whether claiming by their authority or otherwise, in such manner that such payments shall not be subject to anticipation or assignment or be liable for any debts or obligations of said party; provided, however, that deposit to the credit of a beneficiary in any bank or trust company shall be deemed payment into his hands.

ITEM XXI. I direct that the law firm of Cable & McDaniel, be retained as attorneys in the administration of my estate because of their familiarity with my affairs.

ITEM XXII. I hereby nominate, constitute and appoint P. L. Hockman and W. O. Grove, and the survivor of them, the Executors of this Last Will and Testament, and do direct that insofar as may be permitted by law they be excused from the necessity of giving bond.

I hereby confer upon my Executors all powers necessary anonstituting a part of my estate without liability for loss by reason of the exercise of such voting rights; and in any case in which my Executors are required, either under the provisions of this Will or in order to make a proper distribution of my estate, to divide the assets of my estate, or any of them, I hereby authorize them to make such division in cash or in kind, or partly in cash and partly in kind, and any division so made by my Executors shall be binding and conclusive upon all persons interested in my estate; all of which powers shall be exercised without the necessity of prior application to or subsequent ratification by any court having jurisdiction over the administration of my estate or over the particular transaction. It is my intention that the enumeration of the above powers shall not be a limitation upon the exercise by my Executors if other powers conferred upon them by law.

No person, firm or corporation dealing with my Executors shall be required to see to the application of any monies or other consideration paid to them.

IN WITNESS WHEREOF, I have hereunto set my hand and seal this 2nd day of Feb., Nineteen Hundred and Sixty-Five.

Raymond J. Funkhouser (SEAL)

This instrument consists of Eleven (11) typewritten pages (including this page), and was signed sealed, published, and declared by Raymond J. Funkhouser as and for his Last Will and Testament in the presence of us who at his request, in his presence, and in the presence of each other, believing him to be of sound and disposing mind, and memory and understanding, have hereunto subscribed our names as witnesses:

Eleanor L. James Residing at Ranson, W. Va.

Helen Lee Bowers Residing at 208 N. Charles St. Charles Town, W. Va.

CODICIL TO LAST WILL AND TESTAMENT OF RAYMOND J. FUNKHOUSER, DECEASED

I, Raymond J. Funkhouser, resident of Ranson, State of West Virginia, do hereby make, publish, and declare this Codicil to my Last Will and Testament dated February 2, 1965.

I do hereby strike out ITEM IV of my said Last Will and Testament, dated February 2, 1965 and insert in lieu thereof, a new ITEM IV reading as follows:

"ITEM IV. Pursuant to the rights reserved to me by Article THIRD, Paragraph 1, of an Agreement dated December 29, 1947, by and between R. J Funkhouser as Grantor and R. J. Funkhouser, Robert Justin Funkhouser, R. S. Beck, J. K. Wheeler, and W. D. Wilkerson as Trustees, I hereby nominate and appoint the First Pennsylvania Banking and Trust Company, a corporation organized under the laws of the Commonwealth of Pennsylvania, as corporate Trustee to succeed me as Trustee under said Agreement dated December 29, 1947."

AND I do hereby ratify and confirm my said Last Will and Testment dated February 2, 1965 in every other respect.

IN WITNESS WHEREOF, I have hereunto set my hand and seal this 30th day of June, 1965.

Raymond J. Funkhouser (SEAL)

Signed, sealed, published and declared by Raymond J. Funkhouser as and for a Codicil to his Last Will and Testament dated Februry 2, 1965 in the presence of us who at his request, in his presence and in the presence of each other, believing him to be of sound and dispopsing mind, memory and understanding, have hereunto subscribed our names as witnesses:

Helen Lee Bowers Residing 208 N. Charles Charles Town, W. Va.

Margarent W. Owens Residing at Blakeley Apts. Ranson, W. Va.

CODICIL TO LAST WILL AND TESTAMENT OF RAYMOND J. FUNKHOUSER, DECEASED

I, RAYMOND J. FUNKHOUSER, a resident of Ranson, State of West Virginia, do hereby make, publish and declare this Codicil to my last Will and Testament dated February 2, 1965.

I do hereby add the following new item to my said Last Will and Testament dated February 2, 1965.

"ITEM VIII A. I have established a trust of certain shares of First Preferred stock of Funkhouser Industries, Inc. for the benefit of my granddaughter, Elena Teresa Lombard, and I intend to add to said trust during my lifetime additional shares of First Preferred stock of Funkhouser Industries, Inc. and shares of stock of Victor Products Corporation to the end that said trust shall own Ninety (90) shares of First Preferred stock of Funkhouser Industries, Inc. and Eleven Hundred (1100) shares of stock of Victor Products Corporation. In order to carry out this intention I do hereby give and bequeath to the Trustees of the said trust created by me for the benefit of my grandaughter, Elena Teresa Lombard under Agreement dated May__, 1966 IN TRUST AND CONFIDENCE, NEVERTHELESS to add the same to the trust fund held under said Agreement and to hold, manage, and administer the same in trust for the uses and purposes and subject to the terms, conditions and powers set forth in said Agreement (a) such number of shares of the First Preferred stock of Funkhouser Industries, Inc. (if any) by which Ninety (90) shares exceeds the number of said shares given by me to the trust during my lifetime and (b) such number of shares of the stock of Victor Products Corporation (if any) by which Eleven Hundred (1100) shares exceeds the number of said shares given by me to the trust during my lifetime."

AND I do hereby ratify and confirm my said Last Will and Testament dated February 2, 1965 and my previous Codicil thereto dated June 30, 1965 in every other respect.

IN WITNESS WHEREOF, I have hereunto set my hand and seal this 18th day of May, 1966.

R. J. Funkhouser (SEAL)

Signed, sealed published and declared by Raymond J. Funkhouser as and for a Codicil to his Last Will and Testament dated February 2, 1965 in the presence of us who at his request, in his presence and in the presence of each other, believing him to be of sound and disposing mind, memory and understanding, have hereunto subscribed our names as witnesses:

Thelma S. Hardy Ranson, W. Va.

J. E. Ward Residing at Charles Town, W. Va.

CODICIL TO LAST WILL AND TESTAMENT OF RAYMOND J. FUNKHOUSER DECEASED

I, Raymond J. Funkhouser, a resident of Ranson, State of West Virginia, do hereby make, publish and declare this Codicil to my Last Will and Testament dated February 2, 1965.

WHEREAS I have by now added to the trust previously established by me for the benefit of The R. J. Funkhouser Foundation,Inc. all of the shares of capital stock of The Ruberoid Co. and all of the shares of the First Preferred stock of Funkhouser Industries, Inc. which I intend that the Foundation shall receive at my death, and accordingly there is no further purpose for any bequest to the Foundation in my Will.

NOW, THEREFORE, I do hereby strike out and eliminate from my Will in its entirety ITEM VI, thereof.

AND I do hereby ratify and confirm my said Last Will and Testament dated February 2, 1965 and my previous Codicils thereto dated June 30, 1965 and . . . ., 1966 in every other respect.

IN WITNESS WHEREOF, I have hereunto set my hand and seal this 30th day of Nov., 1966.

Raymond J. Funkhouser (SEAL)

Signed, sealed, published, and declared by Raymond J. Funkhouser and for a Codicil to his Last Will and Testament dated February 2, 1965 in the presence of us who at his request, in his presence and in the presence of each other, believing him to be of sound and disposing mind, memory and understanding, have hereunto subscriibed our names as witnesses:

Eleanor L. James Residing at 325 E. Second Ave Charles Town, W. Va.

R. W. Park Residing at 110 E. Washington St. Charles Town, W. Va.