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SOLD

LAND AUCTION-166+/- ACRES OFFERED IN 4 TRACTS IN CASS COUNTY

Walton, Indiana, Cass County

Owner: Laddie Shuman Estate, Robert B. Christopher, Personal Representative Thu, Oct 29, 2015

SOLD FOR $1,360,000

• 166+/- Acres offered in 4 Tracts • Excellent Soils • Excellent Location • High Percent tillable • Farmland: 162.21+/- Ac • Cropland: 158.65+/- Ac • Corn Base: 124.6+/- Ac • Soy Beans: 32.3+/- Ac


OPEN HOUSE/INSPECTION DATES

Thursday, October 1st, 3-5 PM at Tract #2

PROPERTY LOCATION

From Walton, IN at the intersection of SR 218 & US 35; take US 35, 1 mile south to CR 800S, then take CR 800S west to the property.

AUCTION LOCATION

Walton Christian Church, 101 W. Bishop Street and US 35, Walton, IN

TRACT DESCRIPTIONS

Tract 1: 45± ac mostly all tillable (39.42 acres per FSA) except for road frontage. This tract has excellent soils and frontage on US 35, CR 800S and CR 700E.

Tract 2: 20± ac parcel of land with excellent soils with 2 small grain bins and a 50 ft. x 50 ft. tool shed (per Cass Co. Assessor sheet). This tract has road frontage on CR 700E.

Tract 3: 39± ac parcel of land with excellent soils, high % tillable and with a small creek on the NE corner of this tract. This tract has frontage on CR 700E.

Tract 4: 62± ac tract of land with excellent soils, with 61.47 acres tillable (per Cass Co. FSA office). This tract has frontage on CR 800S.
REAL ESTATE AND DITCH TAX: Real Estate: Tract #1: $774.80/6 mo. Tract #2, 3 & 4: $2,218/6 mo.
Ditch: Tract #1: $136.16/yr.. Tract #2, 3 & 4: $370.38/yr.
Note: Mr. Shuman signed an Oil & Gas Lease Agreement with Countrymark Energy Resources LLC on August 23, 2012.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 166+/- acre unit. There will be open bidding on all tracts and combinations during the auction. 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 successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.

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

DEED: Seller shall provide Personal Representatives Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place within 15 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession is at closing subject to the harvest of the 2015 crop.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with the 2016 taxes due in 2017 and thereafter.

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 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.

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. 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. Combination purchases will receive a perimeter survey only.

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.