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LAND AUCTION - 1,193+/- ACRES IN 14 TRACTS IN PIKE & GIBSON COUNTY, INDIANA

Pike & Gibson County, Indiana

Owner: Shawhan Family Farm LLC
6PM (CST) - 7PM (EST)
Thu, Oct 25, 2018

SOLD FOR $4,366,000

6:00PM (CST) - 7:00PM (EST) • 1,193+/- Acres in 14 tracts • 1100+/- Contiguous Acres • 800+/- Tillable Acres • Woods & Productive Soils • Large, Modern Pole Building w/Finished Apartment • Tracts Range from 28+/- to 205+/- Acres • Wooded tracts would make excellent hunting grounds! • Online Bidding Available • Auction Managers Statement: John Shawhan and his late wife JoAnn spent the better part of their lifetime aquiring this farm. Starting in the 1950s with little money, but a strong desire, they bought their first farm (Auction Tract 1). Over the years they continued to add more acreage and improve the productivity of the land through fertility and clearing of woods, fence rows, ditches ect. On October 25th you will have the opportunity to buy all, or a portion, of Mr Shawhans legacy which you will enjoy for years to come. Do not miss this unique chance to own some of Pike Countys most productive farmland! I look forward to meeting you at one of the inspections and at the auction October 25th.


Auction Info Book


OPEN HOUSE/INSPECTION DATES


Monday, October 1 from 10am-Noon CST
Friday, October 19 from 10am-Noon CST

Meet a Schrader Representative at Tract 4

PROPERTY LOCATION

From Petersburg, IN - take St Hwy 56 approx 8 miles to St Hwy 65, continue on Hwy 65 1.3 miles to Co Rd 700W (Coal Haul Rd) turn south .5 miles to tract 4.
From Princeton, IN - take St Hwy 65 north approx 10.7 miles to tract 1, continue on Hwy 65 2.5 miles to Co Rd 700W (Coal Haul Rd) turn south .5 miles to tract 4.

AUCTION LOCATION

Gibson County, IN Fairgrounds, Toyota Events Center - 709 N Embree St, Princeton IN 47670

TRACT DESCRIPTIONS

Tract 1: 86.3± ac 81.4 tillable acres, frontage along Hwy 65 and Co Rd 300N, sloping topography with water control structures, and productive Alford & Wakeland soils.

Tract 2: 50± ac 48.7 tillable, frontage on CO Rd 700W, gently sloping to level topography and productive Muren, Alford & Wakeland soils.

Tract 3: 50± ac 50 tillable acres, frontage on Co Rd 700W, gently sloping to level topography, and productive Alford, Wakeland & Muren soils.

Tract 4: 47.5± ac 46.8 tillable, frontage on Co Rds 700W & 225N, level to sloping topography, 2- steel grain bins with total capacity of 25,000 bushels, and productive Alford & Muren soils.

Tract 5: 152± ac 131 tillable acres, with frontage on Co Rd 700W & 300N. This tract has level to gently sloping topography, and productive Wakeland, Alford & Muren soils.

Tract 6: 40± ac 30.5 tillable, frontage on Co Rd 700W, small woods, productive Alford soils.

Tract 7: 85.4± ac this tract has beed clear cut of timber within the past two years. It is ready to be cleared for farming, or it would make a great recreational/hunting tract. Level to sloping topography.

Tract 8: 205± ac 131.8 tillable (FSA), there is additional tillable acreage do to wooded area being cleared recently, frontage on Co Rd 300N, gently rolling to level topography, and productive Alford & Muren soils

Tract 9: 119.5± ac 91.4 tillable acres, frontage on Co Rd 225N & 175N, gently sloping topography, wooded areas, and procuctive Alford & Iva soils.

Tract 10: 50± ac 41.4 tillable acres, frontage on Co Rd 225N, rolling topography, and productive Alford & Pike soils

Tract 11: 70± ac nearly all wooded, and frontage on Co Rd 150N. This would make an excellent hunting tract.

Tract 12: 146± ac 113 tillable acres, frontage on Co Rd ft.s 775W, 225N & 150N, and rolling topography. Mostly tillable with pasture and pond for livestock. High tensile fence improved with a 45x120 modern machine shed, concrete floor, 18 ft. eves, guttereing and finished apartment. Additionally, there is a rustic, livestock barn.

Tract 13: 28± ac 14.4 tillable acres, the remaining acreage is wooded, with frontage on Co Rd 700W & 150N. This could be a potential building site or hunting tract with income stream.

Tract 14: 64.1± ac 40.2 tillable acres, frontage on Co Rd 775W & Hwy 65. There is a mix of tillable and woods with many possible uses. Procuctive Wakeland & Alford soils.

TRACT MAP(S)

TRACT 1

TRACTS 2-14

SOIL INFORMATION


TRACT 1


TRACTS 2-14

PROCEDURE: The property will be offered in 14 individual tracts, any combination of tracts and as a total 1193+/- 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 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.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide warranty deed(s).

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of insurable title. Cost for an insured closing shal be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession shall be granted at closing, subject to the 2018 cash rental lease. Possession of the buildings situated on tract 12 will be granted on March 1, 2019.

MINERAL RIGHTS: Seller shall convey 100% of their mineral rights owned. Seller shall retain landowners royalty interest in all oil and gas production, if any, on auction tract 7. The sale of auction tract 10 is subject to royalty interest previously conveyed to a third party.

FARMING RIGHTS: The farm is available for the 2019 crop year.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with taxes due in 2020 and thereafter.

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.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

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. 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. Combination purchases will receive a perimeter survey only.

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.