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SOLD

MAJOR, HIGH QUALITY LAND AUCTION - 346+/- ACRES OFFERED IN 8 TRACTS IN JACKSON COUNTY, INDIANA

Brownstown, Indiana - Jackson County - South Central Indiana

Owner: Karen Buchanan and Kathy Blandford, Co-Trustees, 1/2 Harold Kuehn Irrevocable Trust and 1/2 Janet Jo Kuehn Irrevocable Trust Tue, Jan 22, 2019

SOLD FOR $2,630,000

• 346+/- Acres offered in 8 Tracts • 97% Cropland • 336+/- Cropland Acres or 97% of Total Acres • 2019 Crop Rights to be Conveyed • 3+/- Miles North of Brownstown in Top Ag Area • Irrigation Potential Available from Adjoining Operators • Investment Type Tracts All with Good Access • 6+/- Miles Southwest of Seymour • 22+/- Miles South of Columbus • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.


Information Booklet


OPEN HOUSE/INSPECTION DATES


Saturday, January 5 at 9:00 - 11:00 AM
Wednesday, January 9 at 9:00 - 11:00 AM

Meet at Pewter Hall. Tract inspections available anytime ground condition Warrants at individuals responsibility.

PROPERTY LOCATION

3 miles northwest at Brownstown. From Seymour south on Hwy 50 to north side of Brownstown then right on North St (NAPA sign) becomes 25E then continue north to Co. Rd. 300N then left or West.

AUCTION LOCATION

Pewter Hall, 850 West Sweet Street, Brownstown, IN. From intersection of Hwy. 50 and Hwy 250 west on Hwy 50 to intersection of Hwy 135 then south about 1/2 mile to W Sweet St on the left, then continue 200 yds. on the left. Just 1 mile southwest of downtown.

TRACT DESCRIPTIONS

Tract 1: 40± ac with 38+/- acres cropland. Co. Rd. 100W crosses. Vincennes soils.

Tract 2: 40± ac w ith 39.2+/- acres cropland. Vincennes soils and frontage on Co. Rd. 300N.

Tract 3: 40± ac with 39.2+/- acres cropland. Potential for 35 acres irrigation from adjoining neighbor. 7 irrigation bridges cross east ditch. Buyer to pay $5,000 to former tenant at closing for bridges. This is at the corner of Co. Rd. 100W and 300N.

Tract 4: 20± ac with 18.4+/- cropland. Frontage on Co. Rd. 100W.

Tract 5: 85± ac with 84+/- acres cropland. Good ditch adjoins on the west side. Irrigation potential available from neighbor. Driftwood and Bellcreek soils. 1/2 mile frontage on Co. Rd. 300N. Nice tract.

Tract 6: 35.8± ac with 34.2 acres cropland at the corner of Co. Rd. 25E and Co. RD. 300N. Vallonia soils.

Tract 7: 62.5± ac with est. 61 acres cropland. Irrigation potential available from neighbor. Armiesburg and Whitaker soils. Frontage on Co. Rd. 300N.

Tract 8: 23± ac with est. 22+/- acres cropland. Corner of Co. Rd. 25E and Co. Rd. 300N.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURES: The property will be offered in 8 individual tracts, any combination of tracts, or as a total 346+/- 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. Tract 3 final purchase price to be increased by $5,000 to purchase irrigation bridges from tenant.

DOWN PAYMENT: 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 Deed.

CLOSING: The targeted closing date will be approximately 30 days after the auction subject to any survey and title preparation. The balance of the real estate purchase price is due at closing.

POSSESSION: At closing. 2019 crop rights to be conveyed.

REAL ESTATE TAXES: Seller to pay taxes assessed 2018 payable 2019 by credit to Buyer(s) at closing based on most current 2018 tax billing. 2018 taxes estimated at $5,030.75 or $14.53/acre.

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 #4974. 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.