AUCTION IS OVER

TOTAL SOLD: $990,000

Tract(s): 1+2

@ $990,000

($7,388/acre)

• LAND AUCTION
• 134+/- Acres offered in 2 Tracts
• Excellent Location
• Excellent Soils
• Productive Farmland
• I-1 Zoned
• Nearly All Tillable
• Utilities Nearby
• Online Bidding Available
• 2-1/4+/- miles east of I65 and SR 114 interchange
• 1/4 mile east of Jasper County Airport

OPEN HOUSE/INSPECTION DATES

Thursday, November 13, 2-4 pm Central
Meet a Schrader representative on Wood Rd. (CR 400S) on North side of Tract 1

PROPERTY LOCATION

From the I-65 and SR 114 interchange, west of Rensselaer, travel east on SR 114 ( W. Clark St.) for approximately 2 miles to Airport Rd (CR 700 W), then turn North (left) onto Airport Road and travel 1 mile to Wood Rd (CR 400 S). Turn East (right) onto Wood Rd and go approximately 1/4 mile to the property on the south side of the road.

AUCTION LOCATION

Knights of Columbus, 325 E. Vine St. Rensselaer, IN 47978.
From downtown Rensselaer at the Jasper County Courthouse head northeast for 2 blocks on US 231 (Washington St.). Turn left on US 231 (N. McKinley Ave.) and go approximately .4 mi to E. Vine St. (E. Vine St is the first street south of railroad tracks). Turn East (right) on E. Vine St. and go 1 block to auction site.

TRACT DESCRIPTIONS

Tract 1: 67± ac with excellent quaility soils. This tract is mostly all tillable with approximately 650 ft. of frontage on Wood Rd (CR 400 S). Also, this tract has access to an open ditch along the Northeast portion of the property and is adjacent to the CSX Railroad line.

Tract 2: 67± ac of quality soils and mostly all tillable. Also, this tract has approximately 650 ft. of frontage along Wood Road (CR 400 S).

REAL ESTATE TAXES:
Tract 1 - 2013 payable 2014: $1,059.22 (includes tax on approximately 3 acres not included in auction). Drainage assessment $25.23 (also includes assessment on approximately 3 acres not included in auction).
Tract 2 - 2013 payable 2014: $1,676.30 (includes tax on approximately 6.5 acres and tool shed, 2 grain bins, lean-to, and corn crib not included in auction). Drainage assessment $29.53 (also includes assessment on approximately 6.5 acres not included in auction).

NOTE: This property has an excellent location with possible future development potential. Zoned I-1 (Light Industrial) per City of Rensselaer zoning map. City sanitary sewer, water, and electric are along SR 114 (W. Clark St.) as well as natural gas.

The Jasper County Airport is located approximately 1/4 mi west of the property. Investigate the Airport Layout Plan (10 year lookout) and possible future east - west runway.

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 individual tracts and as a total 134+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts 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: 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 Corporate 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 shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated title 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 the tenants rights for the 2014 growing crop.

REAL ESTATE TAXES: Seller shall pay all 2014 real estate taxes due and payable in 2015. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch and drainage assessments due after closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on 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. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. 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 governmental planning approval or other necessary governmental approval. The real estate is being offered for agricultural purposes, and any construction on the property may require governmental 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. An inspection date has 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.

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

Auction Brochure

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