Home / Auction Info

SOLD

366+/- Acres Offered in 6 Tracts - Proventus Farmland Auction

Clymers, IN - Carroll & Cass Counties

Owner: Proventus II, LLC Mon, Jul 1, 2013

SOLD FOR $3,325,200

• Southwest of Logansport • Frontage on SR 25 • Mostly cropland acres • Productive soils • Investment potential • Tracts from 28 to 107 acres!

NOTE: Due to the recent reconstruction of SR 25, our field work indicates the following permanent road closures that may not be reflected on a GPS device or older maps. Denotes Permanent Road Closures

ONLINE BIDDING: You may bid online during the auction through the website. You must register by June 21 to bid online. For information on registering for online you may call Schrader Auction Company at 800-451-2709.


OPEN HOUSE/INSPECTION DATES

Wednesday, May 29 from 3 p.m. to 5 p.m.
Monday, June 10 from 3 p.m. to 5 p.m.
Meet a Schrader representative on Tract 3.

PROPERTY LOCATION

From Lafayette, IN: At the intersection of I-65 & ST RD 25 follow ST RD 25 north 26 miles to Clymers, Indiana. From Logansport, IN: at the intersection of Logansport Bypass RD & ST RD 25, follow ST RD 25 south 5 miles to Clymers, Indiana. Tracts 1-5 are located south of ST RD 25, access via CR 400S off of ST RD 25 by driving east through Clymers. Turn south on CR 400W just east of the fire station, tracts 1 & 2 are located on the west side of CR 400W. Follow CR 400W south to the intersection of CR 500S (Cass Co.) and turn west, proceed 1 mile, tract 3 will be located on the north side of the road. Tract 4 is located on the south side of E CR 1000N in Carroll Co. and on the west side of North CR 300E. Proceed south 1 mile to East CR 900N on N 300E, turn west and proceed 1 mile to North CR 225E. Turn north and proceed 1/2 mile to tract 5 located on the east side of CR 225E (dead end road). Tract 6 is located on the north side of ST RD 25 in Cass Co. From CR 400S & ST RD 25 in Cass Co. turn west on CR 400S and drive 1 mile to CR 500W, turn south and drive 1/2 mile to dead end cul-de-sac, tract 6 is located on the east side of CR 500W. Clymers, Indiana is easily identified by the operating Ethanol production facility that is clearly visible several miles away.

AUCTION LOCATION

Angies Place. 1007 17th Street, Logansport, IN. From the west side of Logansport at the intersection of US 24 & US 35, take old US 24 (Market Street) into Logansport to 17th Street. Travel south on 17th St. 6 blocks to Angies Place.

TRACT DESCRIPTIONS

Tract 1: 48± ac 44.48 tillable acres located on CR 400E in Cass Co. 1/4 mile south of Clymers. Tract features over 1100 feet of frontage off 400E, nice open ditch on south side of tract. Soils are Fincastle and Cyclone.

Tract 2: 107± ac 104.90 tillable acres located on CR 400E in Cass Co. less than 1/2 mile south of Clymers. Tract has approximately 1125 feet of frontage off 400E, open ditch on north side of tract. Soils are Fincastle and Cyclone.

Tract 3: 33± ac 30.24 tillable acres located on the NE corner of CR 500S & CR 500W in Cass Co. Over 270 feet of frontage on CR 500S and 1200 feet on CR 500W. Soils are Fincastle.

Tract 4: 47± ac 42.92 tillable acres located on the SW corner of CR 300E and CR 1000N (Co. Line Rd.) in Carroll Co. 800 feet of frontage along CR 300E and approximately 1100 feet of frontage along CR 1000N. Soils are Fincastle and Kendall-Fincastle. This tract can be accessed on CR 1000N / CR 500 S by a new bridge over the Hoosier Heartland Highway (SR 25).

Tract 5: 103± ac 79.85 tillable acres located on the east side of CR 225E in Carroll Co. Over 2000 feet of frontage off CR 225E and approximately 22 +/- acres of woods. Soils are Kendall-Fincastle and Cyclone Clay.

Tract 6: 28± ac 25.13 tillable acres located on the east side of CR 500W in Cass Co. This tract features gently rolling terrain with waterways for drainage and over 1000 feet of frontage off CR 500W. Soils are Kendall-Fincastle & Rockfield- Williamstown.


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 366 +/- 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, subject to farming rights for the 2013 crop. 2013 farm rent to be prorated to date of closing.

REAL ESTATE TAXES: Buyer shall assume the second half of the 2013 taxes due in November, 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 II LLC or its affiliated or related entities.