SOLD

LAND AUCTION - 116 +/- ACRES OFFERED IN 8 TRACTS IN BUTLER COUNTY, OHIO

Hamilton, Ohio - Butler County

Owner: Estate of Noretta Lake, George Lake Trust, and James A. and Kathy S. Lake Wed, Mar 2, 2016 EASTERN

AUCTION IS OVER

TOTAL SOLD: $635,000

Tract(s): 1-5+7+8 @ $590,000 ($5,412/acre)
Tract(s): 6 @ $45,000 ($6,428/acre)

• 116+/- Acres Offered in 8 Tracts • 80+/- FSA Crop Acres- 2016 Crop Rights to Buyer • Farmstead with 1800s updated home and vintage barns • Beautiful potential building sites • Municipal water adjacent to the Property • Wooded acreage with attractive Pond • Tallawanda Schools • OUTSTANDING LOCATION! Only 8 miles to Miami University, 30 minutes to Cincinnati!


OPEN HOUSE/INSPECTION DATES

Feb. 10 from 3-5pm
Feb. 24 from 3-5 pm
Day of Auction from 3-4 pm

PROPERTY LOCATION

3545 Hamilton Richmond Rd. (OH SR 177), HAMILTON, OH 45013. From Hamilton, travel north 4 miles on Hamilton Richmond Rd. to farm on both sides of the Rd. From Oxford, take SR 73 west to stoplight (SR 177), turn right & travel 3 miles to the farm.

AUCTION LOCATION

MILFORD TOWNSHIP COMMUNITY CENTER (Old Collinsville School). 5113 Huston Rd., Collinsville, OH 45004. Located at the corner of SR 73 & US 127.

TRACT DESCRIPTIONS

Tract 1: 7± ac 7± Acres with 5.5± tillable acres. 850’± of frontage on Hamilton Richmond Rd. A very attractive tract that overlooks the Four Mile Creek. Quality Eldean & Wea soils for farming, or imagine your home-site here. Municipal water near the property.

Tract 2: 20± ac A great mix of tillable & wooded land. 725’± of frontage on Hamilton Richmond Rd. 8± acres of woods with 12± acres of crop land & waterways. Access via easement along existing lane on Tract 3.

Tract 3: 11± ac 11± Acres with brick home & barns. 210’± of frontage. This tract has a lot to offer. 2-story brick home w/ 2,700 sf of living space. 3 baths & 4+ bedrooms, with an efficiency apartment upstairs. Numerous barns & outbuildings including picturesque 2-story hay/livestock barn. Come examine all the possibilities these improvements have to offer.

Tract 4: 11± ac Nearly all tillable. 770’± of frontage. Productive tillable land with quality Eldean & Wea soils. Nearly level field for ease of farming. Consider combining this with surrounding tracts.

Tract 5: 19± ac With a great mix of open tillable land and wooded hills. 480’± of frontage on Hamilton Richmond Rd. This tract provides excellent elevated views. 11± acres of crop land. Examine the possibility of making this your estate-size building site.

Tract 6: 7± ac 7± Acres with 4± tillable acres. 410’± of frontage on Hamilton Richmond Rd & 700’± on Nichols Rd. Nice mix of trees at the back of this tract. Examine the possibility of a corner lot building tract. Municipal water along Nichols Rd.

Tract 7: 9± ac (Swing Tract). This tract features a great combination of open grassland, wooded rolling hills & an attractive pond. This tract is a swing tract & must be combined with an adjoining auction tract. A must see, what a gem!

Tract 8: 32± ac (Swing Tract) with 26± tillable acres. Productive land with a mix of Xenia, Fincastle & Miamian soils. Consider combining this tract to increase your purchase. Must be bid in combination or by an adjoining landowner.


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURES: The property will be offered in 8 individual tracts, any combination of tracts, or as a total 116+/- acre unit (Subject to Swing Tract Limitations). There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer.

DOWNPAYMENT: Real Estate 10% down payment on the day of the auction with the balance in cash at closing. The down payment may be made in the form of cash, 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: Successful bidder(s) will be required to enter into a purchase agreement 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: The Seller will provide a Preliminary Title Opinion for the review of the prospective buyer(s). If Buyer(s) elect to have title insurance, the entire cost of the owners title insurance will be the responsibility of the Buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record. All tracts sold "As-Is".

DEED: Seller(s) shall provide Warranty and Trustee's Deed(s).

CLOSING: The balance of the real estate purchase price is due at closing, which will take place on or before April 6th, 2016.

POSSESSION: Possession will be delivered at closing. Buyer to receive 2016 CROP RIGHTS!

REAL ESTATE TAXES / ASSESSMENTS: Taxes to be pro-rated to the day of closing. The property is currently enrolled in the CAUV program. If the property(s) usage is changed, Buyer is responsible for all cost involved with the CAUV Recoupment expense.

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. For transfer, a new survey will be completed prior to closing. Buyer(s) and Seller will share survey expense 50:50.

EASEMENTS & LEASES: Sale of the property is subject to any and all easements of record. If Tract 2 sells separately from Tract 3, a new ingress and egress easement will be created crossing Tract 3 and benefitting Tract 2 along the existing driveway.

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.

AGENCY: Schrader Real Estate and 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 "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, 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the persons credentials, fitness, etc. All decision of the Auctioneer is final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.