SOLD

LAND AUCTION, 59+/- Acres offered in 2 Tracts or the combination

Fort Wayne, Indiana, St. Joseph Township

Owner: Elizabeth Langer Krause & Eric Langer Tue, Oct 14, 2014 EASTERN

AUCTION IS OVER

TOTAL SOLD: $635,000

Tract(s): 1 @ $260,000 ($8,858/acre)
Tract(s): 2 @ $375,000 ($12,776/acre)

• LAND AUCTION
• 59+/- Acres offered in 2 Tracts or the combination
• Tillable Acreage
• Wooded Acreage
• Development Potential
• Estate Sites
• 3 Bedroom home with basement
• Public Sewer available
• City Water down the road
• Online Bidding Available
Auctioneers Note: An abandoned pipeline traverses the property, south of the Tiernan Drain. There is also an old oil and gas lease on the property. The oil and gas lease will be transferred to the Buyer.


PROPERTY LOCATION

8314 Flutter Rd. (Located between St. Joe Rd. and Wheelock Rd.)

AUCTION LOCATION

Promise Ministries, 7323 Schwartz Rd.

TRACT DESCRIPTIONS

Tract 1: 29.4± ac This tract has approximately 500 feet of road frontage along Flutter Road. It includes the 3 bedroom home on full basement, on approx. 1-1/2 acres. There is approx. 5 acres of tillable land behind the home and the balance, (approx. 22 acres) in woods. The Tiernan Drain runs through this tract with the tillable land in front and the wooded acres to the south of the drain.

Tract 2: 29.4± ac This tract has nearly 480 feet of road frontage along Flutter Road. It includes approx. 14 acres of tillable and the balance, (approx. 15+/- acres) in woods. As in tract 1, the Tiernan Drain runs across with the tillable in front and the wooded to the south of the drain.

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.


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 2 tracts, and the combination of the 2 tracts. There will be open bidding on both tracts and the combination during the auction as determined by the Auctioneer. Bids on each tract, and the total property may compete.

DOWN PAYMENT: 10% down payment on the day of auction with the balance in cash at closing. 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 successful bidders will be required to enter into purchase agreements at the auctions site immediately following the close of the auction. Seller reserves the right to reject any and all bids.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide General Warranty Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the auction. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession shall be at closing, immediately following the closing, subject to the tenant farmer 2014 soybean crop harvest. The Seller shall retain the owners share of the 2014 crop.

REAL ESTATE TAXES: The Real Estate taxes shall be pro-rated to the day of closing. Buyer shall pay any ditch assessments due and payable in 2014. ACREAGE: All tract acreage, 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 the tract divisions in this auction create new boundaries. Solely the Seller shall determine any need for a new survey. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC. 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. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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.