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SOLD

PRIME FARMLAND AUCTION - 716+/- ACRES OFFERED IN 8 TRACTS IN CASS & CARROLL COUNTIES

Logansport, Indiana

Owner: Ben Dillion Tue, Nov 3, 2015

SOLD FOR $8,282,000

• Excellent Corn and Soybean Yields • 200+ Bu. Corn/Acre • Mile long Fields • Roads on 4 Sides/Easy Access • Frontage on 2 State Roads • Ideal for Large Modern Equipment • 4 Miles South of Logansport, Indiana • Rare opportunity to purchase one large contiguous field with frontage on 4 roads. • This could be the largest contiguous field in either Carroll or Cass County. BE PREPARED TO BID YOUR PRICE.


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Wednesday, October 7 from 3-6 PM and
Tuesday, October 20 from 3-6 PM

PROPERTY LOCATION

From the south side of Logansport at the intersection of US 24 and SR 29, go south on SR 29, 3-1/2 miles to the northwest corner of the property. Property is located on the east side of SR 29.

AUCTION LOCATION

Angies Place, 1007 17th Street, Logansport, IN.
From the west side of Logansport at the intersection of US 24 and US 35, take old US 24 (Market Street) into Logansport to 17th Street. Travel south on 17th Street 6 blocks to Angies Place.

TRACT DESCRIPTIONS

Tract 1: 119± ac of tillable prime farm land with a WPI rating of 173. This tract has frontage on SR 29 and SR 218 (Co Rd 800 in Carroll County). The two primary soil types are Cyclone silty clay loam and Kendall-Fincastle silt loam.

Tract 2: 92± ac of tillable prime farm land with a WPI rating of 177. This tract has easy access from SR 29. The two primary soil types are Cyclone silty clay loam and Kendall-Fincastle silt loam.

Tract 3: 46± ac of tillable prime farm land with a WPI rating of 157. This tract has frontage on CR 900 in Carroll County. The two primary soil types are Kendall-Fincastle silt loam and Cyclone silty clay loam.

Tract 4: 179± ac of tillable prime farmland with a WPI rating of 169. This tract has easy access from CR 900 in Carroll County. The two predominate soil types are Cyclone silty clay loam and Kendall-Fincastle silt loam.

Tract 5: 84± ac of tillable prime farm land with a WPI rating of 168. This tract has frontage on CR 600 in Cass County or CR 900 in Carroll County. The two predominate soil types are Patton silty clay loam and Starks silt loam.

Tract 6: 93± ac of tillable prime farm land with a WPI rating of 169. This tract has frontage on CR 600 and CR 50. The two predominate soil types are Patton silty clay loam and Starks silt loam.

Tract 7: 38± ac of tillable prime farm land with a WPI rating of 175. The primary soil type on this rate is Patton silty clay loam. This tract has frontage on SR 218 or CR 700 in Cass County.

Tract 8: 65± ac of tillable prime farm land with a WPI rating of 177. This tract has frontage on SR 218 or CR 800 in Carroll County. The two predominate soil types on this tract are Cyclone silty loam and Kendall-Fincastle silt loam.

The way this farm is subdivided offers something for the smaller, medium and large acreage buyers. Create the combination of tracts that offers the optimum purchase for your operation. This is a rare opportunity to design a purchase of prime farmland that best fits your needs at your price.
*THE PHRASE ALL TILLABLE MEANS ALL TILLABLE EXCEPT ROAD RIGHT OF WAY OR OPEN DITCH.
WPI means weighted productive index.

Contact Auction Company for detailed information booklet including FSA summaries, soil maps, tile maps, assessments, tax information and other information.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

BIDDING PROCEDURE: All tracts will be offered individually, in any combination or as a whole unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bidding on individual tracts, tract combinations and the entire property will compete.

SELLERS ACCEPTANCE: The auction is with reserve; the final bids are subject to the Sellers acceptance or rejection.

PURCHASE CONTRACT: Each successful bidder will be required to sign a purchase contract, in the form provided in the bidder packets, at the auction site immediately following the close of the auction. All information contained in this sale brochure and other marketing materials is subject to the terms and conditions contained in the written purchase contract. Seller shall not be bound by any statement, promise or inducement that is not contained or incorporated in the written purchase contract.

BUYERS PREMIUM: The total contract purchase price will be the accepted bid amount plus a 1% buyers premium.

PAYMENT TERMS: 10% of the purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of a 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.

CLOSING: There will be a split closing with half of the property closing in the last week of December 2015 and the other half closing during the first two weeks of January 2016.

POSSESSION: Possession will be given at closing.

REAL ESTATE TAXES: Seller to pay 2015 taxes due and payable in 2016. Buyer to assume taxes thereafter.

EVIDENCE OF TITLE: Preliminary title insurance schedules will be available for review prior to the auction. At closing, Seller will pay for the issuance of a standard owners title insurance policy in the amount of the purchase price.

DELIVERY OF TITLE: The property will be conveyed by warranty deed, free and clear of liens but otherwise subject to all easements and other matters of record and other permitted exceptions described in the purchase contract. The conveyance will include any minerals and mineral rights owned by Seller, but without any warranty or representation as to the existence, nature or extent thereof.

SURVEY: If any tract or combination is sold which cannot be conveyed using existing legal descriptions (as determined by Seller), one or more new surveys will be provided as required to record the conveyance. Otherwise, a new survey will be provided only as deemed necessary or appropriate in Sellers sole discretion. If a new survey is provided, the survey costs will be shared equally (50:50) by Seller and Buyer and the purchase price will be adjusted to reflect any difference, in excess of one (1) acre, between advertised and surveyed acres. Any survey of adjacent tracts purchased in combination will be for the perimeter only.

TRACT MAPS; ACRES: All advertised tract maps, acres, dimensions and boundaries are approximations based on county parcel data, current legal descriptions, existing surveys and/or aerial mapping. The marketing materials are not provided as survey products.

PLANNING APPROVAL: The auction property is offered as crop production land. Buyer assumes all responsibility after closing for obtaining any necessary county planning approvals and satisfying all local requirements in connection with any future construction or development.

PROPERTY INSPECTION: Inspection dates have been scheduled and will be staffed with auction personnel. Owner and Auction Company disclaim any and all responsibility for the safety of prospective bidders and other persons during any physical inspection of the property. No person shall be deemed an invitee with respect to the property by virtue of its being offered for sale.

DISCLAIMER AND ABSENCE OF WARRANTIES: THIS PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for having completed, prior to the auction, their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in this brochure and other marketing materials is subject to verification by all parties relying on it. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All sketches and dimensions are approximate.

AGENCY: Schrader Real Estate and Auction Company, Inc. and its agents and representatives are exclusively the agents of the Seller.

CONDUCT OF AUCTION: The conduct of the auction and increments of bidding will be at the direction and discretion of the auctioneer. Seller and Sellers agents reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc. All decisions of the auctioneer at the auction are final.

CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information. OFFICIAL ANNOUNCEMENTS MADE FROM THE AUCTION PODIUM ON AUCTION DAY WILL TAKE PRECEDENCE OVER PRINTED MATERIALS AND ANY OTHER ORAL STATEMENTS MADE.

OWNER: Ben Dillion