PROCEDURE: The property will be offered in 2 individual tracts and as a total 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.

BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 3% of the bid amount.

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. Purchase agreements are available for review prior to the auction. All final bid prices are subject to the Sellers acceptance or rejection in its sole discretion.

EVIDENCE OF TITLE: The Seller agrees to furnish Buyer(s) an updated commitment for an Owners Policy of Title Insurance prior to closing. The property will be conveyed by a Warranty Deed as more specifically set forth in the purchase agreement.

REAL ESTATE TAXES: Seller shall pay the 2018 real estate taxes payable in 2019 and ditch assessments due in 2018. All subsequent real estate taxes and assessments shall be the buyers responsibility.

CLOSING: Closing shall take place within 30 days after the auction.

POSSESSION: Possession shall be granted at closing, including 2019 crop rights.

SURVEY: Seller prepaid Zoning Variance and Minor Subdivision costs for Tract 2. Buyer of Tract 2 shall split those cost 50:50 by reimbursing Seller. Tract 1 is subject to a boundary survey, costs shall be split 50:50 between Buyer and Seller. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres on purchased acreage.

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 date has been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Buyers 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: Tract 2 acreage is based on the completed Minor Subdivision. Tract 1 acreage is estimated from the Property Record Card, less the Minor Subdivision (Tract 2).

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.

Auction Brochure

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