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SOLD

LAND AUCTION - 754+/- ACRES OFFERED IN 4 FARMS & 16 TRACTS IN RIPLEY CO., IN

Ripley County, Indiana - Southeast Indiana

Owner: Viola Mills Trust, Maxine Gall, Charlene Olson, Covell Mills Trust, Connie Mills Trustee Tue, Nov 1, 2016

SOLD FOR $4,585,000

• 754+/- Acres in 16 Tracts • 4 Farms • 659+/- Cropland Acres • 2 Farm Houses • 90,000 Bu. storage and grain center • Top quality level soils/improved drainage • Investment quality • Large Fields • Good frontage on State Hwy. 50 & Hwy. 101 • Online Bidding Available • Near Batesville, Versailles & Lawrenceburg • 35 miles from Cincinnati and grain terminals


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Saturday, Oct. 1st from 9-12:00 Noon
Friday, Oct. 14th from 3-5 PM
Saturday, Oct. 22nd from 9-12:00 Noon

Meet Agent on Tract 2 grain center on Co. Rd. 750E.

PROPERTY LOCATION

All near Milan, Indiana.
Farm #1: 558+/- Acres - Tracts 1 thru 10

Corner of Hwy. 50 and Hwy. 101, 5 miles south of Milan. Sec. 18 Twp. 7N R13E
Farm #2: 52+/- Acres - Tract 11
1 mi. south of Milan to Co. Rd. 200N then 1 mi. west at the corner of Co. Rd. 625E. Sec. 36 Twp. 8N R12E.
Farm #3: 64+/- Acres - Tracts 12 thru 15
At Milan corner of Hwy. 101 and Hwy. 350. Sec. 12 Twp. 8N R12E. North edge of Milan.
Farm #4: 80+/- Acres - Tract 16
3 mi. north of Milan at corner of Hwy. 101 and Co. Rd. 700N/Spades Rd. Sec. 36 Twp. 9N R12E.

AUCTION LOCATION

Milan Middle School, Marvin Wood Gym, 609 N. Warpath Dr., Highway 101, Milan, Indiana 47031. Just south of intersection of Hwy. 101 and Hwy. 350 at Milan. Watch for parking signs at the south end of the school.

TRACT DESCRIPTIONS

Tract 1: 93± ac
FARM 1 - 558+/- Acres - 502 USDA Cropland Acres - All with municipal water. Taxes $20,179.62/yr. Located at intersection of Hwy. 50 and Hwy. 101.
Tract 1: 93+/- acres
all cropland. About 1/2 mile frontage on Hwy. 101, Co. Rd. 50S and Co. Rd. 750E. Good Avonberg soils. Nice tract for farmers or investors. Great frontage on 3 roads.

Tract 2: 5± ac with grain center, 4 bins, 90,000 Bu. storage. Overhead 2,500 Bu. wet bin. Pit dump, some new equipment, 100 ft. Sweet leg, 7 downspouts, GSI model 1112 dryer, all 3 phase with (2) Rota Phase. Auto controls. Tenants say good shape. 1,100 sq. ft. 11/2 story house. Municipal water. Good rental property.

Tract 3: 44± ac all cropland. Nearly1,070 ft. of frontage on Co. Rd. 750E. Avonberg soils. Improved drainage with CRP waterway. Purchase with Tract 1 - 6 for nice 338 acres, mostly all cropland. All with a good grain center.

Tract 4: 35± ac all cropland. Nice frontage, good soils and nice size for everybody.

Tract 5: 118± ac with est. 110 acres cropland. Good CRP waterways. Over 1/4 mi. frontage on Hwy. 101 and Co. Rd. 750E. Rental mobile home.

Tract 6: 43± ac all cropland. Almost 1/2 mi. frontage on Hwy. 50. Useable frontage on Co. Rd. 750. Nice corner property with water and gas.

Tract 7: 2± ac with 1-1/2 story, well maintained, 2,898 sq. ft. home. Two car garage and good 40 ft. x 48 ft. pole barn. Municipal water and gas. Corner of Hwy. 50 and Hwy. 101. New furnace, roof and windows. Great location. Do not miss this.

Tract 8: 75± ac with est. 70 acres cropland. Good Avonberg and Cobbs Fork soils. Level and productive. About 1/2 mi. frontage on St. Hwy. 101 and 1/4 mi. on Hwy. 50. This is a great investment tract.

Tract 9: 36± ac all cropland. Good soils and about 1/4 mi. on Hwy. 50 and 1/4 mi. on Co. Rd. 675E.

Tract 10: 108± ac with est. 76 acres cropland and 25 acres nice woodland. 1.7 acres improved drainage CRP waterways. This is a nice combination of cropland, hunting, recreational property and super location.

Tract 11: 52± ac
FARM 2 - 52+/- Acres - 49.3 USDA cropland acres - Municipal water - Taxes $1,567.20/yr. - 2 miles south of Milan at Co. Rd. 200N and 625E.
Tract 11: 52+/- acres
all cropland. Level and productive with 3,600 ft. of total frontage on Co. Rd. 200N and Co. Rd. 625E. This is a nice clean tract.

Tract 12: 42± ac
FARM 3 - 64+/- Acres - 59.7 USDA cropland acres - Taxes $1,757.52/yr. - Municipal Water, Gas, Sewer - On the north edge of Milan, across from Ripley Crossing.
Tract 12: 42+/- acres
all cropland. About 570 ft. of frontage on Hwy. 101 just north of Milan. Clean and ready to farm.

Tract 13: 12± ac mostly all cropland and great investment with farm income and potential non-farm uses. About 760 ft. of frontage on Hwy. 101 and all useable. Do not miss this one.

Tract 14: 6± ac mostly all cropland and about 630 ft. of frontage on Hwy. 350. This is ready for change in use and perfect size.

Tract 15: 4± ac all woodland without frontage. This may be purchased in combination with Tracts 12, 13 or 14 or by an adjoining property with access. (This is known as Swing Tract)

Tract 16: 80± ac
FARM 4 - 80+/- Acres - 48.1 USDA cropland acres - Taxes $3,064.08 - North of Milan at the corner of Hwy. 101 and Co. Rd. 700N.
Tract 16: 80+/- acres
with 48.1 acres cropland and est. 30 acres pasture with stream. Fair fence, 2 barns and mobile home. About 1/4 mi. frontage on Spades Rd. and 1/2 mi. on Co. Rd. 700N. Here is your livestock type farm with good location.
Denver Mills acquired these farms throughout his life time. They represent an outstanding combination of location and quality of farms.


INTERACTIVE MAP

TRACT MAP(S)

FARM 1

FARM 2

FARM 3

FARM 4

SOIL INFORMATION


FARM 1


FARM 2


FARM 3


FARM 4

AREA MAP(S)

PROCEDURES: The property will be offered in 16 individual tracts, any combination of tracts, or as a total 754+/- acre unit except Tract 15 being a swing tract. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.

DOWN PAYMENT: 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: Sellers shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Sellers shall provide Trustees Deed and or Warranty Deed.

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of title policy est. on or before January 6th.

POSSESSION: At closing subject to reservation of 2016 crop rights and use of grain center (bins) until April 1, 2017. 2017 crop rights to be conveyed.

REAL ESTATE TAXES: Buyer(s) to pay installment due and payable 2018.

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. Buyer(s) and Seller will share survey expense 50:50. Combination purchases will receive a perimeter survey only. Closing prices will be adjusted to reflect any differences between advertised and surveyed acreages.

FSA INFORMATION: See Agent.

EASEMENTS: Sale of the property is subject to any and all easements of record.

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.