PROCEDURES: The property will be offered in 3 individual tracts, any combination of tracts, or as a total 87+/- acre unit. There will be open bidding on all tracts, subject to the swing tract limitations, and combinations during the auction as determined by the Auctioneer.

DOWN PAYMENT: Real Estate 10% down payment on the day of the auction with the balance in cash at closing. The down payment may be made in the form of cash, 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 a 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 will provide Title Insurance at closing and a preliminary title commitment for the review of the prospective buyer(s).

DEED: Seller shall provide a Trustees Deed.

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of marketable title projected to be on or before October 21st, 2014.

POSSESSION: Possession for Tract 1 & 3 will be delivered at closing subject to 2014 tenants farming rights. Possession of Tract 2 with the improvements will be delivered 30 days after closing. Buyer to receive 2015 CROP RIGHTS!

REAL ESTATE TAXES / ASSESSMENTS: Buyer to assume the tax payment due for the year 2015 pay 2016. Seller will pay all taxes due and payable for 2014 pay 2015 via a credit at closing. Seller will pay all ditch assessments for 2014. Buyer to assume the ditch assessments due and payable in 2015. Current taxes for whole farm 2013 pay 2014 $ 3,623.08 per year.

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 or where new boundaries are created by the tract divisions in this auction. If a survey is needed, Buyer(s) and Seller will share survey expense 50:50. If the property sells in its entirety, no new survey will be completed.

EASEMENTS & LEASES: 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 AS IS, WHERE IS basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the persons credentials, fitness, etc. All decision of the Auctioneer is final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.

Auction Brochure

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