SOLD

LAND AUCTION - 98.5+/- ACRES OFFERED IN 3 TRACTS IN NOBLE COUNTY, IN

Noble County, Indiana - Sparta Twp.

Owner: Emerson & Marjorie Bushong Trust Wed, Mar 23, 2016 EASTERN

AUCTION IS OVER

TOTAL SOLD: $660,000

Tract(s): 1-3 @ $660,000 ($6,700/acre)

• 98.5+/- Acres offered in 3 Tracts • 93.8 Tillable Acres (per FSA) • Brookston & Crosier Loam Soils • Possession for 2016 Crop Year • Road Frontage on 3 Sides • Excellent Location • Great Soils • Highly Productive


PROPERTY LOCATION

1 mile south of Cromwell on SR5 at the 200N red signal light.

AUCTION LOCATION

Cromwell Community Center, 353 Baker Street (1 block west of SR 5 at the end of 3rd Street)

TRACT DESCRIPTIONS

Tract 1: 27± ac mostly tillable w/15 acre established alfalfa field, 30 ft.x50 ft. barn, 25 ft.x26 ft. double crib building, and road frontage on SR 5 & CR 200N.

Tract 2: 35.5± ac of mainly Brookston and Crosier loam soils w/frontage on CR 1000W.

Tract 3: 36± ac of Brookston, Crosier & Miami loam soils & frontage on CR 200N & CR 1000W.


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tract 1 through 3 will be offered individually, in any combination, or in total. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer.

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 Warranty 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 of cropland is at closing.

EARLY POSSESSION: If the buyer(s) want(s) possession of the farmland prior to closing for farming purposes, he may have early possession upon payment of an additional 10% down payment.

FERTILIZER EXPENSE: In the spring of 2015 the farm tenant applied hi-cal lime, regular lime, potash, phosphate, sulfur & boron to the farm per soil sampling recommendations. The farm buyer(s) will pay $90.00 per acre at closing for fertilizer expense.

REAL ESTATE TAXES: Seller pays 2015 taxes due in 2016. Buyer pays all taxes 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. 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 bidder 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 MATERIALS OR ANY OTHER ORAL STATEMENTS MADE.

Auction Brochure

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