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MAJOR LAND AUCTION - 719+/- ACRES OFFERED IN 14 TRACTS IN ALLEN COUNTY, OHIO

Lima, Ohio - Allen County, Ohio

Owner: Receiver for Rivercrest Farm, Inc. and Kruger Properties, LLC Tue, Apr 23, 6:00 PM

• 719+/- Acres offered in 14 Tracts • Individually, in Combination and as a Whole • 2019 Farming Rights • Immediate Possession after Auction • Productive Tillable Land • Home with Outbuildings • Potential Development • UPCOMING EQUIPMENT SALE ON WEDNESDAY, APRIL 24 AT 10AM IN LIMA, OHIOONLINE 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.


Auction Info Book


OPEN HOUSE/INSPECTION DATES


Monday, April 8 from 10am-Noon
Tuesday, April 16 from 2-4pm

Meet Schrader representatives at Howard Johnson Conference Center Grand Ballroom for more info.

PROPERTY LOCATION

All of the properties are located just east of Lima, Ohio between Highway 309 (Harding Hwy) and US 30.
Tracts 1-3:
From the intersection I-75 and Napoleon Road (eastbound exit 134), near Beaverdam, OH, travel south on Napoleon Road 1 mile to Sugar Creek Road. Travel east 3/4 mile on Sugar Creek to Reppert Road. Travel north on Reppert 1/4 mile to the property.

Tracts 4-5: From the intersection I-75 and Napoleon Road, travel south on Napoleon Road 3 miles to the property.

Tracts 6-7: From the intersection I-75 and Napoleon Road, travel south on Napoleon Road 3 miles to Sandusky Road. Travel east 1 mile to the property.

Tracts 8-10: From the intersection I-75 and Napoleon Road, travel south on Napoleon Road 3-1/4 miles to the property. Tract 10 can be accessed from the south on Fisher Road only.

Tracts 11-13: From the intersection of I-75 and Highway 309 (Harding Hwy, exit 125), on the east side of Lima, travel east on Harding Hwy 6 miles to the property.

Tract 14: From the intersection of I-75 and Harding Hwy, on the east side of Lima, travel east on Harding Hwy 4-1/4 miles to Cool Road. Travel north on Cool Road 1/2 mile to the property.

AUCTION LOCATION

Howard Johnson Conference Center Grand Ballroom, 1920 Roschman Ave, Lima, OH. Located 6 miles west of Tracts 11-13 on the south side of Harding Hwy/309 just before the I-75 interchange. (Turn south at the Panera Bread.)

TRACT DESCRIPTIONS

Tract 1: 9± ac tillable with frontage on Reppert Road. Consider the possible building site this location has to offer with quick access to US 30 and I-75.

Tract 2: 83± ac tillable with frontage on Reppert Road. Blount and Pewamo soils.

Tract 3: 65± ac mostly tillable with about 12+/- acres of woods. Frontage on Reppert Road.

Tract 4: 29.5± ac tillable with frontage on Napoleon Road. Blount and Pewamo soils.

Tract 5: 20.5± ac mostly tillable with frontage on Napoleon and Sandusky Roads.

Tract 6: 36± ac tillable with frontage on Sandusky and Swaney Roads. Primarily Blount and Pewamo soils.

Tract 7: 21.5± ac tillable with frontage on Sandusky Road. Primarily Pewamo and Glynwood soils.

Tract 8: 11± ac of mostly tillable with frontage on Napoleon Road. Primarily Medway soils.

Tract 9: 40.5± ac mostly tillable with approximately 7+/- acres of woods. Primarily Pewamo, Glynwood and Blount soils.

Tract 10: 55± ac of mostly tillable with a nice 6+/- acre woods on the south end of the property and another 3+/- acres to the northeast. Consider the hunting potential on this secluded tract!

Tract 11: 154± ac mostly tillable with approximately 11+/- acres of woods. A power line crosses this tract. Primarily Glynwood and Blount soils with frontage on Rumbaugh and High Street Roads.

Tract 12: 112± ac mostly tillable with frontage on Rumbaugh Road and Harding Hwy. Primarily Glynwood and Pewamo soils.

Tract 13: 8± ac including the home and outbuildings plus frontage on Harding Hwy and Rumbaugh Road. Includes about 4+/- acres of tillable land. Address: 7835 Harding Hwy, Lima, OH 45801

Tract 14: 74± ac tillable land with access from Cool Road. Primarily Pewamo and Blount soils.

TRACT MAP(S)

TRACTS 1-3

TRACTS 4-5

TRACTS 6-7

TRACTS 8-9

TRACTS 11-13

TRACT 14

SOIL INFORMATION


TRACTS 1-3


TRACTS 4-5


TRACTS 6-7


TRACTS 8-9


TRACTS 11-13


TRACT 14

AREA MAP(S)

PROCEDURE: The property will be offered in 14 individual tracts, any combination of tracts and as a total 719+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. The auction will be offered in individual tracts, combinations of tracts, and as a whole.

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.

IMMEDIATE ACCESS: Immediate access will be available for certain crop farming activities prior to closing. Buyer must deliver an additional 10% (for a total of 20%) and sign a Pre-Closing Access Agreement. Contact Auction Company for details.

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 a final commitment, dated after the Auction, for the issuance of an owners title insurance policy in the amount of the purchase price insuring marketable title to the Purchased Tracts in the name of Buyer, subject to all standard requirements, conditions and exceptions and subject to the Permitted Exceptions. If Buyer and/or Buyers lender elect(s) to purchase title insurance, the premiums for issuing the owners and/or lenders title insurance policy shall be charged to Buyer.

DEED: Seller shall provide Receivers Deed(s).

CLOSING: The balance of the real estate purchase price is due at closing, which will take place 30 days after the auction, subject to Court Confirmation Order(s).

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with the 2019 taxes due in 2020 and thereafter. If the purchased tracts have been taxed at a reduced CAUV, Buyer will be responsible for the payment of any CAUV recoupment taxes if Buyer converts the property to a non-agricultural use or if the property otherwise fails to qualify for CAUV due to any act or omission of Buyer.

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.

SCHRADER REAL ESTATE AND AUCTION CO., INC.

260-244-7606 or 1-800-451-2709

www.schraderauction.com

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E-mail: [email protected]