PROCEDURE: The property will be offered in 3 tracts and any combination of the three tracts. There will be open bidding on all tracts and the combination during the auction as determined by the Auctioneer. Bids on each tract, tract combinations 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 auction 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 a Warranty Deed.

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

DEKALB COUNTY PLAN COMMISSION REVIEW: The tract divisions will be conveyed as non-reviewed sell-offs which have not been pre-approved by the Dekalb County Plan Commission. Each Buyer assumes all responsibility for: (a) obtaining any building permit, septic permit or other permit or approval required to build on or otherwise develop the land; and (b) satisfying all requirements of the local planning and building authorities and board of health. Sellers and Auction Company make no promises or warranties as to the availability of any such permits or approvals and the Buyers obligation to close is not contingent upon obtaining any such permits or approvals.

POSSESSION: Possession shall be given on the day of closing, immediately following the closing.

REAL ESTATE TAXES: The Real Estate taxes shall be pro-rated to the day of closing.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. The Seller and the successful bidder(s) 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. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres if a new survey is determined to be necessary, except on Tract 1 and any combination with Tract 1.

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 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 in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by Seller or the Auction Company. Conduct of 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.

Auction Brochure

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