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SOLD

LAND AUCTION - 276.5+/- ACRES OFFERED IN 5 TRACTS IN EAST ALLEN COUNTY

East Allen County

Owner: Red Rooster Farms, LLC Mon, Feb 1, 2016

SOLD FOR $2,196,000

• 276.5+/- Acres Offered in 5 Tracts • Very Productive Tillable Soils • Tracts Ranging from 11 to 100 acres • 165.5+/- Acres are contiguous • Premiere East Allen County • AUCTION MANAGER NOTE: This is a very desirable farm land offering. Tract locations are as close to being a large contiguous parcel without being one. The soils are excellent and have produced very high yields annually. There has been great care in the soils by the current tenant farmer. There are assorted older tile maps showing various tiles in most of the farms. The latest was in 1993. The tenant Farmer has done some repair and installed a large surface drain on Tract 3. Do not miss this opportunity to expand your operation in a large way or in smaller increments.


OPEN HOUSE/INSPECTION DATES

Meet a Schrader Rep. on Lortie Road near Tract 1, Monday, January 11 from 3-5pm. Walk-Over inspections permitted

PROPERTY LOCATION

1 Mile east of Monroeville, at the corner of Monroeville and Lortie Rd.

AUCTION LOCATION

The Monroeville Community Park Pavilion (421 Monroe Street, Monroeville, Indiana).

TRACT DESCRIPTIONS

Tract 1: 68.5± ac tillable land with frontage along Lortie Road. This tract is adjacent to the railroad to the south and neighboring woods to the west. It has nearly 1500 feet of road frontage along Lortie Road. The soils are a combination of Nappanee silt loam and Hoytville silty clay loam.

Tract 2: 100± ac tillable land with approximately 1600 feet of road frontage along Monroeville Road and 2500 feet of road frontage along Lortie Road. The soils are predominantly Hoytville silty clay with pockets of Nappannee silt loam. This is a large rectangular piece and combined with Tract 1 would make up a 168 acre contiguous parcel.

Tract 3: 60± ac tillable land with approximately 450 feet of road frontage along Monroeville Road. This tract is a long, and irregular in shape parcel with predominantly Hoytville silty clay soils.

Tract 4: 37± ac tillable land with nearly 900 feet of road frontage along Monroeville Road and nearly 1300 feet of road frontage along Lortie Road. The soils are a mix of Nappanee silty clay loams with some Whitaker loams to the north.

Tract 5: 11± ac land with approximately 4.7 acres of woods and the balance in tillable land. There is nearly 350 feet of road frontage along Lortie Road. This tract offers an excellent potential building site or combine with Tract 4 for a nearly 50 acre parcel.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1-5 will be offered in individual tracts, and in any combination of these tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. The property will be bid in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% Cash down payment at close of auction. Cash or cashiers check or a personal or corporate check immediately negotiable is satisfactory for the down payment. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: At the close of the auction, Buyer(s) will be required to execute an Agreement to Purchase Real Estate and Addendum. The terms of this agreement and addendum are non-negotiable.

DEED: Seller shall provide a warranty deed and Owners Title Insurance Policy.

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

CLOSING: Balance of purchase price is due in cash at closing, which will take place on or before March 15, 2016. The cost for an insured closing will be shared 50/50 between Buyer and Seller.

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Taxes shall be pro-rated to date of closing.

DITCH ASSESSMENTS: Buyer shall pay all ditch assessments due after closing.

ACREAGE: All acreage is approximate and has 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 the auction. Any need for a new survey will be determined solely by the Seller, cost of the survey will be split 50/50 between Buyer and Seller. 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. In the event that the entire property sells to one buyer there shall be no survey.

EASEMENTS: All real estate is being sold subject to any existing recorded easements. Existing recorded leases, if any will be assigned to the Buyer.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. Your bids are to be based solely upon your inspection. All real estate is sold as is without physical warranty. Seller and agent are not assuming any responsibility for warranty of any specific zoning classifications, location of utilities, assurance of building permits, driveway permits or water and septic permits. Tract acreage has been estimated based on aerial photographs. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, 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. All sketches and dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and the Auction Company make no warranty or representation, express or implied or arising by operation of law, including an warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company 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.