• 5PM (CST) • 314+/- Acres offered in 4 Tracts • Productive Soils • Excellent Location • Good Drainage Outlet • Lots of Road Frontage • 3 Miles North of Monon • 5 Miles South of Francesville • 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.
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LAND AUCTION - 314+/- ACRES OFFERED IN 4 TRACTS IN WHITE COUNTY, INDIANA
White County, IndianaOwner: Charles and Jane Garrett Family Trust (Dated 1-20-1992), Co-Trustees Lizabeth Roewe and Robert Garrett
5PM (CST) Tue, Feb 5, 2019
SOLD FOR $1,890,000
From Monon, IN: take US 421, 3 miles north to CR 1100N (County Line), then take 1100N 1 mile east to Tracts 1-3 on south side of 1100N. Tract 4 is 1/2-1 mile east.
From Francesville, IN: take US 421, 5 miles south to CR 1000S (County Line), take CR 1000S, 1 mile east to Tracts 1-3 on south side of County Line. Tract 4 is 1/2-1 mile east.
Meadow Springs Banquet Facility, 8621 S US 421, Francesville, IN - At the intersection of SR 114 & US 421
Tract 1: 115± ac parcel of land with 92.94+/- acres tillable. This tract has quality soils and frontage along the MP Hill ditch and frontage on CR 1100N. This tract will be subject to a 30 ft. easement for access to Tract 3 (if sold separately) along the ditch from CR 1100 N to the south line of Tract 3.
Tract 2: 84± ac with 77.12+/- acres tillable land per White County FSA. This tract has a 33 ft. x 64 ft. tool shed with a 23 ft. x 64 ft. lean-to and (2) grain bins. This tract has quality soils and frontage on MP Hill ditch, CR 1100N, and 100E.
Tract 3: 34± ac parcel of land with a small pond in the SW corner of this wooded tract. If sold apart from Tract 1, this tract will have access via a 30 ft. easement along the ditch from CR 1100 N to the south line of Tract 3.
Tract 4: 80± ac of land with 58.69+/- acres tillable. This tract also has quality soils with frontage on CR 1100N & CR 200E.
FSA INFO (#1075, 1076, 2458)
FARMLAND - 303.18 AC.
*CROPLAND - 219.5 AC.
CORN BASE - 134.17 AC.
PLC YIELD - 161 BU.
SOYBEAN BASE - 68.53 AC.
SOYBEAN YIELD - 48 BU.
PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 314+/- 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 Trustee Deed(s).
CLOSING: The balance of the real estate purchase price is due at closing, which will take place on or before March 6, 2019 or as soon as possible thereafter. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.
POSSESSION: Possession is at closing.
REAL ESTATE TAXES: Seller shall pay all of 2018 real estate taxes due and payable in 2019.
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.
STOCK PHOTOGRAPHY: A deer photo is for illustrative purposes only and was not taken on the auction property.
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