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SOLD

233 +/- Acres Offered in 3 Tracts, Ohio Land Auction

Van Wert, Ohio, Van Wert Co., Union Township

Owner: David Wilson, Nicholas North Co., Inc., Janice Wilson Terhune Mon, Oct 7, 2013

SOLD FOR $3,275,000

• 233 +/- Acres offered in 3 Tracts • Quality Productive Farmland


OPEN HOUSE/INSPECTION DATES

Mon., September 9, 10am - 12noon
Tues. September 17, 5pm - 7pm.

Meet a Schrader Representative at the farm.

PROPERTY LOCATION

Union Township, Sections 4 & 5
Located at the intersection of Richey Road and Elm Sugar Road From U.S. Highway 30, travel north 5 miles to property. From the town of Scott and Highway 127, travel west 3 miles to Richey Road.

AUCTION LOCATION

Van Wert County Fairgrounds 1055 South Washington Street, Van Wert, Ohio

TRACT DESCRIPTIONS

Tract 1: 76.4± ac with frontage along Richey Road. This tract is all Hoytville Soils.
FSA Cropland: 76.34 acres
Corn Base Acres: 25.30 with Direct Yield of 132
Soybeans Base Acres: 25.30 with Direct Yield of 41
Wheat Base Acres: 25.30 with Direct Yield of 70
ANNUAL TAXES: $1727.02 plus 54.62 special assessment

Tract 2: 78.3± ac with frontage along both Richey and Elm Sugar Roads. This tract is mostly Hoytville soils with about an 11 acre portion of Nappanee toward the south.
FSA Cropland: 77.87 acres
Corn Base Acres: 32.50 with Direct Yield of 138
Soybeans Base Acres: 25.90 with Direct Yield of 37
Wheat Base Acres: 19.50 with Direct Yield of 69
ANNUAL TAXES: $1684.00 plus $58.93 special assessment

Tract 3: 78.3± ac with frontage along Elm Sugar Road. This tract is mostly Hoytville soils with a 15 acre belt of Nappanee toward the south.
FSA Cropland: 77.90 acres
Corn Base Acres: 32.50 with Direct Yield of 138
Soybeans Base Acres: 25.90 with Direct Yield of 37
Wheat Base Acres: 19.50 with Direct Yield of 69
Annual Taxes: $1610.06 plus $59.48 special assessment


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total 233+/- acre unit. 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.

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: Successful bidder(s) will be required to enter into purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: The Seller shall provide a preliminary opinion of title to be made available to prospective bidders for review prior to bidding. If any buyer elects to purchase title insurance, the cost thereof shall be at such buyers sole expense. Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters. All tracts sold AS IS.

DEED: Appropriate deed will be delivered at closing.

CLOSING: Closing shall take place 30 days after auction date, or as soon thereafter as applicable closing documents are completed.

POSSESSION: Possession of the property shall be given on day of closing subject to owners and tenants rights for the remainder of the 2013 crop year.

REAL ESTATE TAXES: Buyer shall assume real estate taxes beginning with the 2014 calendar year taxes due and payable 2015. If usage is changed, the Buyer is responsible for CAUV Recoupment.

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

SURVEY: A new survey will be made where there is no existing legal description. Buyer(s) and Seller shall share any survey expense 50:50.

EASEMENTS: Sale of the property is subject to any and all easements of record.

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.

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

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

Auction Brochure

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