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SOLD

414.5 +/- Acres Offered in 6 Tracts - Prime Indiana Farmland

Montpelier, IN - Jay County

Owner: Proventus Thu, Mar 21, 2013

SOLD FOR $4,309,500

• Investment Potential • Large Contiguous Tract • Tracts from 42 to 102 Acres • Mostly Cropland Acres • Productive Soils • Immediate Possession Available • East of Marion • North of Muncie • 20 Miles to Ohio

Online Bidding Available: You may bid online during the auction at www.schraderauction.com. You must register by March 13th to bid online. For information on registering for online bidding, call Schrader Auction Company at 800-451-2709.


OPEN HOUSE/INSPECTION DATES

Tuesday, February 26, 1-3 PM
Thursday, March 7, 1-3 PM
Meet a Schrader representative on Tract 4.

PROPERTY LOCATION

Located .6 mile west of the junction of SR 1 & SR 18. From Montpelier, travel 5 miles east to the property. From Bluffton travel 13 miles south on SR 1 to SR 18 and travel .6 mile west to the property.

AUCTION LOCATION

Montpelier Civic Center. 339 South Main Street, Montpelier, IN 47359. From the traffic signal in Montpelier travel 3 blocks south to auction location.

TRACT DESCRIPTIONS

Tract 1: 77.5± ac mostly tillable with approx. 740 ft. of frontage on the Wells/Jay County line. Soils are Blount-Glynwood, Pewamo and Glynwood.

Tract 2: 72± ac mostly tillable with approx. 1,790 ft. of frontage on the Wells/Jay County line. Soils are Blount-Glynwood, Pewamo and Glynwood. The eastern boundary of this tract is an open ditch and grass waterway.

Tract 3: 102± ac mostly tillable with approx. 1,375 ft. of frontage on SR 18. Soils are Glynwood, Blount-Glynwood and Pewamo. The northern boundary is a grass waterway.

Tract 4: 42± ac mostly tillable with approx. 760 ft. of frontage on the Wells/Jay County line and approx. 1,800 ft. of frontage on CR 950W. Soils are Pewamo, Glynwood and Blount-Glynwood. The westerly boundary is an open ditch.

Tract 5: 56± ac mostly tillable with approx. 1,645 ft. of frontage on CR 950W. Soils are Blount-Glynwood, Pewamo and Glynwood.

Tract 6: 65± ac mostly tillable with approx. 1,300 ft. of frontage on CR 950W and 1,250 ft. of frontage on SR 18. Soils are Blount-Glynwood, Pewamo and Glynwood. There is a 1.48 acre grass waterway running north and south thru this tract.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts and as a total 414.5 +/- acres. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete in the auction.

DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All final bid prices are subject to the Sellers acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

DEED: Seller shall provide a deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller will provide a preliminary title insurance commitment to review prior to auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated title insurance commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing, which will take place 30 days after auction day, or as soon thereafter as applicable closing documents are completed by the Seller. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession is at closing. Immediate possession is available, if Buyer so elects, for limited farming activities prior to closing, including spring planting. If Buyer elects to take possession prior to closing, Buyer will assume all responsibility and risks in connection with such activities. If Buyer elects to take possession prior to closing, Buyer must sign an addendum for pre-closing possession at the time of signing the purchase contract, which will require general liability insurance coverage in the amount of at least $1,000,000 combined single limit.

REAL ESTATE TAXES: Buyer shall assume 2013 taxes due in 2014.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.

PLANNING APPROVAL: The sale of all tracts is subject to any necessary county planning approval or other necessary county approval. The real estate is being offered for agricultural purposes, and any construction on the property may require county approval.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller and Auction Company disclaim any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

EASEMENTS: Subject to any and all existing easements.

BUYERS PREMIUM: A Buyers Premium of 2% will be charged to the Buyer. The Buyers Premium shall be added to the high bids to obtain the Total Contract Purchase Price.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

STOCK PHOTOGRAPHY: Some crop photos are for illustrative purposes only and were not taken on the property.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

OWNER: Proventus, LLC or its affiliated or related entities.