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SOLD

INDIANA FARMLAND AUCTION, 525+/- Acres in 8 Tracts

South Bend, Indiana - St. Joseph County

Owner: R.J. Newton Farms, LLC Wed, Jul 23, 2014

SOLD FOR $4,525,000

• INDIANA FARMLAND AUCTION
• 525+/- Acres in 8 Tracts
• Highly Productive Soils
• State of the Art Grain System
• Recreational/Hunting Tract
• Near Lakeville, IN
• Online Bidding Available
• FARM EQUIPMENT AUCTION
• JULY 23 @ 11AM (same location as land auction)


OPEN HOUSE/INSPECTION DATES

Thursday, June 26 from 10am - Noon
Wednesday, July 9 from 10am - Noon

Meet a Schrader Representative at the Grain Bins located on Tract 4.

PROPERTY LOCATION

FROM LAKEVILLE, IN: Lakeville, Indiana is 7 miles south of South Bend, Indiana on US Hwy 31.
Tract #1 From intersection of St. Hwy 4 and US Hwy 31 travel south on Hwy 31 for 4 miles to farm on east side of highway (watch for signs)
Tract #2 From intersection of St. Hwy 4 and US Hwy 31 travel south on US Hwy 31 for 3.4 miles to farm on west side of highway (watch for signs)
Tracts #3 & 4 - From intersection of St. Hwy 4 and US Hwy 31 travel north on Hwy 31 for 4/10 mile to property on east side of highway (watch for signs)
Tracts #5-8 - From intersection of St. Hwy 4 and US Hwy 31 travel north on US Hwy 31 for 9/10 of a mile turn west (left) on Osborn Rd. and go 1.2 miles to property on southwest corner of Osborn Rd. and Maple Rd.

AUCTION LOCATION

Hoosier Racing Tire Corporate Headquarters in Lakeville, IN located 1/2 mile north of intersection of St. Hwy 4 and US Hwy 31 on west side of US Hwy 31.
Address: 65465 U.S. 31 Lakeville, IN

PROPERTY DESCRIPTION


TRACT DESCRIPTIONS

Tract 1: 111.8± ac mostly tillable productive farm land featuring Crosier loam and Brookston loam are the two predominate soil types. According to Agri Data Inc. Surety Soil map Crosier loam is approximately 49% and Brookston loam is approximately 37% of the acreage on this tract. Excellent soils investigate the potential of this tract.

Tract 2: 148.5± ac with approximately 128 acres of productive tillable land consisting of predominately Crosier loam and Riddles-Oshtemo fine sandy loam soils. Large contiguous field ideal for todays large farm equipment. Call Auction Company for information on installation of field tile in the past several years.

Tract 3: 127.8± ac with approximately 106 acres of productive tillable farm land. Riddles-Oshtemo fine sandy loam soil series make up approximately 50% of the acreage on this tract with Milford silty clay loam consisting of approximately 27% of the soils on Tract #3. Both of theses soil types are capable of producing good corn and soybean yields.

Tract 4: 5.5± ac with new 186,000 bushel grain handling system including 2 Brock 48 ft. diameter 15-ring grain bins (65,616 bu. ea.), 1 Brock 36 ft. diamater 15-ring grain bin (36,007 bu.), Brock 24 ft. diamater 13-ring hopper bin holding 15,620 bu., 1 Brock 15 ft. diameter 7-ring hopper bin holding (3,155 bu.), 15 ft. structural stand for loadout bin - 16 ft. clear height, 1 Honeyville model 54-36 bucket elevator, 6,000 bph with 129 ft. discharge height, 1 Honeyville model 43-24 bucket elevator 3,000 bph with 129 ft. discharge height, Meyer model 1400 S-tower dryer, pit area includes Honeyville 16 in. curved incline drag conveyor 6,000 bph, Honeyville gentle-flow drag conveyors plus 3D level scanner, 3D mapping visualization software. State of the art grain system built in 2010 plus a 17 ft. x 26 ft. office building and 40 ft. x 80 ft. pole building with concrete floor. Call Auction Company for more information.

Tract 5: 28.9± ac with 26 acres of productive tillable land consisting primarily of Martinsville loam, Hillsdale sandy loam and Tyner loamy sand. Excellent road frontage on Osborne road ideal for mini rural estate. Investigate the potential of this tract.

Tract 6: 55.3± ac of productive tillable farm land with the majority of the acreage consisting of Riddle-Oshtemo fine sandy loam and a lesser amount of Hillsdale sandy loam. Both of these soils are easy to farm with an excellent tilth factor. Road frontage on Maple & Osborne.

Tract 7: 39± ac of mixed hardwood trees and marshy wildlife habitat area. This tract is approximately 50/50 between mixed hardwood trees and marshy wildlife habitat area. Excellent hunting or recreational tract with 50 ft. of road frontage from Maple Road. This is a rare opportunity to purchase this unique mixture of recreational and wildlife habitat acreage.

Tract 8: 8.5± ac Swing Tract This tract must be purchased in combination with Tract #7 or Tract #6. If purchased with Tract #7 this could be a potential building site consisting of 47.5 acres with scenic woodland and wildlife habitat area, or if combined with Tract #6 for a total of 63.5 acres of productive tillable farm land.

ONLINE BIDDING AVAILABLE: You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Kevin Jordan at Schrader Auction Co. - 800-451-2709.


INTERACTIVE MAP

TRACT MAP(S)

Tract 1

Tract 2

Tracts 3&4

Tracts 5-8

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 8 individual tracts, any combination of tracts and as a total 525+/- 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. Subject to swing tract limitations.

DOWN PAYMENT: Equal to ten percent (10%) of the high bid amount shall be due immediately after the bidding concludes. Personal checks will be acceptable for the down payment. The remainder of the purchase price shall be paid in cash at closing. The Buyers obligation to purchase the property shall not be subject to any contingency relating to the buyers ability to obtain a loan or other financing from a third party.

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 warranty 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: At each closing, Owner shall furnish at Owners expense: (i) a warranty deed conveying marketable title to Buyer, subject to all permitted exceptions as described in the Purchase Documents (Permitted Exceptions); and (ii) an owners title insurance policy in the amount of the purchase price insuring marketable title to the Real Estate, subject to all standard requirements, conditions and exceptions and subject to the Permitted Exceptions. Prior to the Auction, Auction Company is authorized to order, on Owners behalf, a preliminary title insurance commitment or other preliminary evidence of title to be made available for review by prospective bidders prior to bidding.

CLOSING: The Purchase Documents will target a closing date between November 1, 2014 and November 15, 2014 at the office of the title company preparing the preliminary title insurance schedules. The title companys fee for administering closing will be shared 50:50 between Buyer and Seller. POSSESSION: Possession of the Real Estate shall be delivered subject to the rights of the current farm tenant for the remainder of the 2014 crop year. Owner will retain all rights with respect to the farm rent for the 2014 crop year.

REAL ESTATE TAXES: Owner will pay, or provide a credit to the Buyer at closing for, the real estate taxes assessed against the Real Estate for the calendar year 2014 (due in 2015) and all prior years. Buyer will assume and pay all subsequent taxes.

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

SURVEY: If any tract or combination is sold which cannot be conveyed using existing legal description(s), one or more new surveys will be provided as required by law to complete the transaction. Otherwise, a new survey will be provided only as deemed necessary or appropriate in Owners sole discretion. If a new survey is provided: (i) the survey will be ordered by Auction Company and will be sufficient for the purpose of recording the conveyance, but the type of survey shall otherwise be determined solely by Owner; (ii) the survey costs will be shared equally (50:50) by Seller and Buyer; and (iii) the purchase price will be adjusted to reflect any difference between advertised and surveyed acres unless the purchase price includes substantial improvements.

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 disclaims 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.

AGENCY: Schrader Real Estate & 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.

STOCK PHOTOGRAPHY: Background imagery of soybeans is for illustrative purposes only.

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

OWNER: R.J. Newton Farms, LLC