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SOLD

LAND AUCTION - 622.9+/- ACRES OFFERED IN 9 TRACTS IN JASPER COUNTY, INDIANA

Jasper County, Indiana

Owner: Chuck Ruhmann, James A. Ruhmann II, Sally Beth Porter Mon, Nov 14, 2016

SOLD FOR $3,800,000

• 622.9+/- Acres offered in 9 Tracts from 17 to 115.5+/- Acres • Productive Farmland • 570.9+/- Tillable Acres • Excellent Location • US 231 Frontage • Potential Home Sites • Tracts 1-2: 3+/- miles east of Rensselaer • Tracts 3-9: 1-2+/- miles north of Rensselaer • Online Bidding Available • 5PM CENTRAL TIME


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Wednesday, October 19 from 3-5 PM central and Tuesday, November 1 from 3-5 PM central
Meet a Schrader rep. at Tract 9, approx. 1/4 west of U.S. 231 on 300 S (Amsler Road).


PROPERTY LOCATION

Tracts 1 & 2: From Rensselaer go east on State Road 114 approximately 3 miles to 150 W. Turn north (left) on 150 W. and go approximately 1/2 mile to Tract 2 on the west side of the road. Tract 1 is just north of Tract 2.
Tracts 3, 6 & 7: From Rensselaer go north on U.S. 231 approximately 1-1/2 miles to the property on both sides of U.S. 231.
Tract 4: On the northeast side of Tract 3.
Tract 5: approximately 2 miles north of Rensselaer on U.S. 231 to 200 S. Tract 5 is at the northeast corner of U.S. 231 & 200 S.
Tracts 8 & 9: From Rensselaer go north on U.S. 231 for approximately 1 mile to 300 S (Amsler Road). Turn west (left) on 300 S (Amsler Road) and go approximately 1/4 mile to Tract 9 on the south side of 300 S (Amsler Road). Tract 8 is just west of Tract 9.

AUCTION LOCATION

Rensselaer Central Middle School Cafeteria, 1106 Bomber Boulevard, Rensselaer, IN 47978. Just north of Franciscan Health (Formerly Jasper Co. Hospital). From the east side of Rensselaer at St. Rd. 114 (E. Grace St.) & Melville St., go north on Melville St. approximately .1 mile to Bomber Blvd. Then turn east (right) onto Bomber Blvd. and go approximately .1 mile to auction site on the north side of the street.

TRACT DESCRIPTIONS

Tract 1: 80± ac Productive soils and nearly all tillable. Tract 1 has road frontage on Co. Rd. 150 W.

Tract 2: 77.5± ac Productive soils and mostly tillable. There are approximately 6+/- acres of woods in the southeast part of this Tract. This tract has road frontage on Co. Rd. 150 W.

Tract 3: 60± ac Productive soils with 56.26+/- tillable acres. This tract has frontage on U.S. 231. There is an old shed and corn crib on this tract. Investigate possible home sites on this tract.

Tract 4: 80± ac SWING TRACT Productive soils with 76.21+/- tillable acres. This tract must be bid on by an adjoining landowner with access or in a combination bid including Tract 3. The lane on the north side of Tract 4 is private and not part of the auction property.

Tract 5: 79± ac Productive soils with 74.43+/- tillable acres. This tract fronts on U.S.231. The lane on the south side of Tract 5 is private and not part of the auction property.

Tract 6: 84± ac Productive soils and mostly tillable. There is a significant amount of Brookston loam soils. An old building site is located in the interior of this tract which has electric lines to it. This tract fronts on U.S. 231. Investigate for a possible home site on this tract.

Tract 7: 115.5± ac This tract has productive soils and is mostly tillable. There is a significant amount of Brookston loam soils. There are a few patches of trees and land that is not being tilled. This tract fronts on U.S. 231; however, there are no apparent entrances off of U.S. 231. Access to this tract is from Co. Rd. 300 South (Amsler Rd.).

Tract 8: 17± ac Productive soils which is nearly all tillable. This tract has an excellent location close to Rensselaer on paved Co. Rd. 300 S (Amsler Rd.). Investigate for a possible home site on this tract.

Tract 9: 29.5± ac Investigate for a possible home site on this tract. This tract is close to Rensselaer and offers an excellent location on Co. Rd. 300 S (Amsler Rd.). There is an old silo, sloping terrain, tillable land, woods and other land not being tilled which offers a beautiful setting. There may possibly be an old well on this tract.

REAL ESTATE TAXES: 2015 payable 2016: TR 1 & 2: $2,013.40; TR 3 & 4: $2,123.64; TR 5: $1,097.96; TR 6 & 7 (2 Tax IDs): $2,932.58; TR 8 & 9: $582.50
Drainage assessments: TR 1 & 2: $55.84; TR 3 & 4: $12.83; TR 5: $6.63; TR 6 & 7: $60.88; TR 8 & 9: $8.52


INTERACTIVE MAP

TRACT MAP(S)

TRACTS 1-2

TRACTS 3-9

SOIL INFORMATION


TRACTS 1-2


TRACTS 3-9

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 9 individual tracts, any combination of tracts (subject to swing tract limitations), and as a total 622.9+/- acre unit. 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: 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 final bid prices are subject to the Sellers acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

DEED: Seller shall provide a Warranty Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated title commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing, which will take place 30 days after auction day, or as soon thereafter as applicable closing documents are completed by the Seller. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession is at closing subject to tenant rights for the 2016 crop.

REAL ESTATE TAXES: Seller shall pay all 2016 real estate taxes due and payable in 2017. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch and drainage assessments due after closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and/or aerial mapping.

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 or where Seller otherwise determines a survey is appropriate. 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. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.

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 dates have 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.

EASEMENTS: Subject to any and all existing easements.

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.