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ANSWER: If your father was out of tsatus before he filed for the extension, then he has no status from which to extend. Therefore, he would very likely be denied the extension.
But since you are a US citizen, and he entered the US legally, the best thing to do is to apply for adjustment of status to permanent resident, rather than file the extension? Why? Because a parent of a US citizen who is 21 years old or older can file for adjustment of status, even if his legal status was already expired. He is an immediate relative, so it does not matter that his status was already expired.
So yes, file the I-130 and the I-485 together at the same time, in the same envelope.
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