AUCTION IS OVER

TOTAL SOLD: $1,035,000

Tract(s): 1	@ $220,000	($4,133/acre)
Tract(s): 2+3	@ $520,000	($5,575/acre)
Tract(s): 4+5	@ $295,000	($3,791/acre)

• 224.28+/- Acre offered in 5 Tracts • Quality Soils • Great Location • We have seen deer on all tracts • 2-5 miles South and East of Winamac, IN • Live Internet Bidding Available

OPEN HOUSE/INSPECTION DATES

Thursday, March 15, 3-5 PM eastern
Meet a Schrader representative at Tract 3

PROPERTY LOCATION

From Winamac, IN, at the intersection of US 35 & SR 14, take SR 14 2 miles east to CR 200E, then take 200E 1 mile south. Tract 1 is on the east side of CR 200E. From Tract 1, take CR 200E another 1 mile south. Tract 2 has frontage on CR 150S and 300E, Tract 3 has frontage on CR 225E and CR 150S. Tracts 4 & 5, from the intersection of SR 14 & US 35, take US 35 4 miles south to CR 400S, then take CR 400S approx. 4 miles east. Tracts 4 & 5 are at the intersection of 400S & 450E

AUCTION LOCATION

Knights of Columbus Hall, 340 E 50 N, Winamac, IN. From the intersection of SR 14 & US 35, take US 35 approximately 1/2 mile north to CR 50N (Alliance Bank), turn and go east approximately 1/2 mile east to Knights of Columbus Hall.

TRACT DESCRIPTIONS

Tract 1: 53.2± ac acre parcel of land with 36.5 acre tillable and 10.7 acre in CRP program. This tract has frontage on CR 200E. Possible building site.

Tract 2: 40± ac acre tract of land with 36.89 acre tillable. This tract has quality soils and frontage on CR 150S & CR 300E.

Tract 3: 53.3± ac acre parcel of land with 51.46 tillable acres. This tract has quality soils and frontage on CR 225E.

Tract 4: 15± ac parcel of land and mostly all wooded. This tract offers a possible building site. This tract also has frontage on CR 450E.

Tract 5: 62.8± ac acre tract of land with 44.39 acre tillable and 13.02 acres in CRP program. This farm has quality tillable soils. This tract also has frontage on CR 450E. Take a drive down to view the tillable land.

NOTE: The open ditch on Tract 5 goes almost to the south boundary line. The present owner has a verbal agreement with the farm tenant on the property south of this tract to access the east field. If an agreement cannot be obtained with the adjacent property owner/farm tenant, the new buyer will need to install a bridge over Graffis ditch.

RE Taxes - Ditch Tax Tract 1 (2016-2017) - RE Taxes: $724.74/yr.
Tract 2&3 (2016-2017) - RE Taxes: $1280.68/yr.
Tracts 4&5 (2016-2017) - RE Taxes: $1101.78/yr. - Ditch Tax: $127.66/yr.

FSA Information
Tract 1 - #2011
Farmland - 52.04 ac.
Cropland - 47.2 ac.
Corn base - 15.1 ac.
PLC Yield - 129 bu.
Soybean base - 21.4 ac.
Soybean PLC Yield - 36 bu.
CRP - 10.70 ac.
$216.53/ac. (expires 9-30-24)

Tracts 2 & 3 - #2047
Farmland - 94.9 ac.
Cropland - 88.35 ac.
Corn base - 64.15 ac.
PLC Yield - 129 bu.
Soybean base - 22.9 ac.
PLC Yield - 36 bu.
Wheat base - 1.3 ac.
PLC Yield - 38 bu.

Tracts 4 & 5 - #2105
Farmland - 79.92 ac.
Cropland - 57.41 ac.
Corn base - 40.59 ac.
PLC Yield - 129 bu.
Soybean base - 3.8 ac.
PLC Yield - 36 bu.
CRP - 13.02 ac.
$164.78/ac. (expires 9-30-19)

TRACT MAP(S)

TRACT 1

TRACT 2-3

TRACT 4-5

SOIL INFORMATION

TRACT 1

TRACT 2-3

TRACT 4-5

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 5 individual tracts, any combination of tracts and as a total 224.48+/- 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: At closing. Immediate possession is available prior to closing with an additional 10% down payment (for a total of 20%) and sign a Pre-Closing Access Agreement.

REAL ESTATE TAXES: Seller shall pay all 2017 real estate taxes due and payable in 2018. Buyer shall assume any taxes thereafter. Buyer will pay all other assessments including drainage assessments, if any, that are last payable without a penalty after the date of closing.

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

CRP Contract: The existing CRP Contract will be assigned to and assumed by the Buyer(s) on Tracts 1 & 5.

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(s) 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 acres and surveyed acres, except with respect to Tract 3 or any combination which includes Tract 3.

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 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 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.

Auction Brochure

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