SOLD

LAND AUCTION, 320+/- Acres offered in (2) 160 Acre Tracts

White County, Indiana

Owner: Dale W. Harvey Trust, Thad Harvey, Trustee Thu, Jan 22, 2015 EASTERN

AUCTION IS OVER

TOTAL SOLD: $2,550,000

Tract(s): 1+2 @ $2,550,000 ($7,968/acre)

• Land Auction • 320+/- Acres • (2) 160 Acre Tracts • Mostly Productive Tillable Land • Quality Soils • Good Drainage Outlet • Online Bidding Available • 5 Miles Southwest of Francesville, IN • 3 Miles Northwest of Monon, IN • on White/Pulaski County line


OPEN HOUSE/INSPECTION DATES

Monday, January 5 from 3-5PM Eastern
Meet Jim at the tool shed on Tract #1

PROPERTY LOCATION

From Francesville, IN take US 421 - 5 miles south to CR 1000S, then go 2 miles west on CR 1000S, or from Monon, IN take US 421 - 3 miles north to CR 1100N then go 2 miles west on CR 1100N to property location.

AUCTION LOCATION

Best Western Plus Brandywine Inn & Suites - Meeting Center, 304 South 6th Street, Monticello, IN.
At the intersection of US 24 and South 6th Street (Hubbard GM on southwest corner), take South 6th Street approximately 1/4 mile south to auction site.

TRACT DESCRIPTIONS

Tract 1: 160± ac parcel of land mostly all tillable with a 42 ft. x 80 ft. tool shed (per assessor card) and 7+/- acres of woods. This tract has frontage on CR 1100N and 200W.

Tract 2: 160± ac tract of land, also mostly all tillable land. This tract has private interior open ditch and the Brown Ditch along the south portion of this tract, and the Webb Ditch along the west boundary. Also, this tract has frontage on CR 1000S and CR 200W.

CRP Cropland
Filter strips 29.4 Ac. Payment $6522/yr or $221.83/ac. Expires 2020

Real Estate Taxes
Tracts 1&2 - $2,778.41/6 mo.
Ditch Taxes
Brown Ditch - $100.00/6 mo.
Webb Ditch - $104.00/6 mo.

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

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 2 individual tracts, combination of tracts and as a total 320+/- acre unit. There will be open bidding on both tracts and combination during the auction as determined by the Auctioneer. Bids on tracts, tract combinations 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 Trustee 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 of the farmland is at closing.

REAL ESTATE TAXES: Seller shall pay all 2014 taxes due 2015. Buyer will pay 2015 ditch tax and thereafter.

ACREAGE: All tract acreages, 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 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 preformed shall be at the Sellers option and sufficient for providing title insurance. If Seller determines a survey is needed, combination 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 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. w 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 corn is for illustrative purposes only.

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