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LAND AUCTION - 180+/- ACRES OFFERED IN 5 TRACTS IN WHITE COUNTY, INDIANA

White County, Indiana

Owner: Huntington University Tue, Dec 5, 1:00 PM

• 180+/- Acres offered in 5 Tracts • Quality Soils • High % of Tillable Land • Potential Wooded Building Site • 3 miles East of Monticello, IN • 17 miles West of Logansport, IN • Online Bidding Available


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Wed., November 8 from 3-5pm
Thurs., November 16 from 3-5pm

Meet a Schrader Representative at Tract 1

PROPERTY LOCATION

From the intersection of SR 39 and US 24, take US 24 approx. 3 miles East to CR 900E, then take CR 900E north for 1/2 mile to the farm on the east side of CR 900N.

AUCTION LOCATION

From west side of Monticello, IN on US 24 at Hubbard GM Dealership, take 6th Street (West Shafer Road) north approx. 2.5 miles to Pine View Resort Banquet Hall (1969 N. West Shafer Drive).

TRACT DESCRIPTIONS

Tract 1: 3± ac of land with an older farm house, barn and other outbuilding. Frontage on Timmons Road.

Tract 2: 77± ac of land with a high % of tillable land. This tract has quality soils and frontage on Timmons Road.

Tract 3: 72± ac of land. This tract is all tillable except for the Pike Creek and Timmons Road. This tract has frontage on Timmons Road and CR 900E.

Tract 4: 17± ac of land with approx. 8+/- acres of tillable land. There is a low area on this tract with a tile outlet that flows into Pike Creek. This tract will need a new culvert for access if not purchased in combination with Tract 3.

Tract 5: 11± ac SWING TRACT An 11+/- wooded tract with potential building site and hunting land. This tract must be bid on in combination including Tracts 2, 3 and/or 4. Tract 5 may not be bid on individually. Take a look to combine Tracts 4 & 5 for a potential building site and hunting land.
Real Estate Taxes:
RE:
$1594.73/6 mo.
Ditch: $244.38/yr.
FSA Info: Farm Land: 170.08 ac.
Crop Land: 144.69 ac.
Corn Base: 51.8 ac.
Soybean Base: 90.6 ac.

Contact Auction Company for Detailed Information Booklets for the property with additional Due-Diligence Materials, including information such as: soil maps, tax information, surveys and FSA information.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 5 individual tracts, any combination of tracts and as a total 180+/- acre unit, except, however, Tract 5 (swing tract) must be bid on in combination including Tracts 2, 3 &/or 4. Tract 5 may not be bid on individually. There will be open bidding on all tracts (subject to swing tract limitations) 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 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.

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 real estate 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.

REAL ESTATE TAXES: Seller shall pay all 2017 real estate taxes due and payable in 2018 & 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.