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SOLD

OUTSTANDING LAND AUCTION - 170+/- ACRES IN 5 TRACTS IN WAYNE COUNTY, INDIANA

Historic Centerville - Wayne County - Indiana

Owner: Carrol M. Rhodes Trust and Coddington Rhodes Trust; Ed Martin, Attorney Thu, Sep 13, 2018

SOLD FOR $1,053,000

• 170+/- Acres in 5 Tracts • High Quality Cropland • Beautiful Woodland • All Tracts are within Centerville City Limits City Water, Sewer and Gas Nearby • Nice Hardwood Wooded Tract with Tree Plantation • Frontage on 3 Roads Improved Tile/Drainage • 2 Miles South of I-70 Interchange Great Investment Potential • Online Bidding Available • This property is part of the Westcott Place Farm and is a Hoosier Homestead Farm in the same family for over 100 years.


Auction Info Book


OPEN HOUSE/INSPECTION DATES


Saturday, August 25th @ 10:00 to 12:00 Noon
Thursday, August 30th @ 3:00 to 5:00 PM

Meet Agent on Tract 3 on College Corner Rd.

PROPERTY LOCATION

From Centerville Road, at US Hwy 40 stoplight: go north on Centerville Road/Morton Ave 1/2 mile to property on right. From I-70 exit 145 south on Centerville Road: go 2 miles and turn left at College Corner Road to tracts 1,3, and 4. Continue south on Centerville Road to tracts 2 and 5.

AUCTION LOCATION

Golay Community Center, 1007 E. Main St., Cambridge City, IN. Located at the intersection of US 40 and State Hwy. 1 on the northwest corner.

TRACT DESCRIPTIONS

Tract 1: 15± ac all cropland with frontage on College Corner Rd.

Tract 2: 29± ac all cropland with lots of frontage on Centerville Rd. adjoining the town. Great investment tract.

Tract 3: 76± ac all cropland with quality soils and improved tile drainage. Great investment.

Tract 4: 33± ac with 5+ acres cropland, 14+ acres nice woodland and 5+ acres hardwood tree plantation 12 yrs. old. Do not miss this for a lifetime of family recreation. Trails and campsite ready to go. Great frontage and timber investment.

Tract 5: 17± ac all cropland with nice frontage on Crown Creek Blvd. Here is a good long term investment with crop income now and development potential.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURES: The property will be offered in 5 individual tracts, any combination of tracts, or as a total 170+ 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: 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 Trustee Deeds.

CLOSING: The targeted closing date will be approximately 30 to 45 days after the auction estimated on or before October 26, 2018.

POSSESSION: At closing subject to 2018 crop removal. 2019 crop rights and timber rights to be conveyed.

REAL ESTATE TAXES: Seller(s) to pay taxes payable 2018. Buyer(s) to pay installment due and payable 2019. 2018 taxes estimated at $5,307.98. Taxes are generally $32/crop acre/yr.

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: Farm #378, Tract #1188. See agent for information.

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.