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VIRTUAL LAND AUCTION - 205.5+/- ACRES OFFERED IN 2 TRACTS AND 2 EQUIPMENT TRACTS IN BRANCH COUNTY, MICHIGAN

Sherwood, Michigan - Branch County, Michigan

Owner: Equity Trust Co. & Lyle Schmidt Farms LLC Wed, Oct 21, 2020

AUCTION IS OVER

• 205.5+/- Acres in 2 Land Tracts & 2 Equipment Tracts • IRRIGATED LAND • 202.21+/- FSA Tillable Acres • Flat to Gently Rolling • Great Specialty Crop and Seed Corn Farm • Productive Soils • 7 Miles Southeast of Union City • 16 Miles Northwest of Coldwater • Bid by Online/Virtual, Bid by Phone or Absentee Bid • VIRTUAL ONLINE BIDDING All bidders must register for online or phone bidding prior to the auction by submitting a registration form found on the download tab. 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.

Bids Will be called from a remote location
A Schrader Representative will be on Tract 1 during the auction, if assistance is needed.
1) Bid online at Schraderauction.com
2) Bid by phone during the auction. Call no later than Noon the day before to schedule your call.
3) Bid by submitting an absentee bid on the item that you are interested in. Absentee bids need to be turned in no later than Noon The Day Before.


OPEN HOUSE/INSPECTION DATES

Wednesday, September 30 from 10:00am-Noon
Wednesday, October 7 from 3:00-5:00pm
Wednesday, October 21 from 3:00-5:00pm

PROPERTY LOCATION

Section 27 Milligan Rd and Locke Rd, Sherwood, MI.
DIRECTIONS:
South of M-60 on Athens Rd, 3 Miles to Milligan Rd. OR North of Sherwood, MI on Athens-Dunks Rd to Milligan Rd. Watch for Schrader Signs.

AUCTION LOCATION

HELD ONLINE ONLY!
BIDS WILL BE CALLED FROM A REMOTE LOCATION
A Schrader Representative will be on Tract 1 during the auction, if assistance is needed.
1) Bid online at Schraderauction.com
2) Bid by phone during the auction. Call no later than Noon the day before to schedule your call.
3) Bid by submitting an absentee bid on the item that you are interested in. Absentee bids need to be turned in no later than Noon The Day Before.

TRACT DESCRIPTIONS

Tract 1: 134.6± ac Frontage on Milligan Rd & Locke Rd. 7 Tower Valley Irrigation System, with in-ground pipe for travelers, 131.46 FSA tillable acres, well is on Tract 2 so Buyer may or may not have water source, depending on the Buyer of Tract 2.

Tract 2: 70.9± ac Frontage on Milligan Rd & Locke Rd. 70.75 FSA tillable acres, well with Amarillo pump, with in-ground pipe for travelers, piping for water source for Tract 1.

Tract 3: JD 6414T power unit, 6 Cyl. turbo w/ clutch, 3133 hrs.

Tract 4: Heinzman 3340 traveler, 1/4 mile, wheel drive, soft blue hose, Nelson Gun

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

Topography Map

Wetlands Map

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 205.5+/- 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.

ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements 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 preliminary opinion of certificate of title.

DEED: Seller shall provide Trustee Deed(s).

CLOSING: The balance of the real estate purchase price is due at closing, which will take place 30 days after the auction.

POSSESSION: Possession is at closing with tenants rights to 2020 crops.

REAL ESTATE TAXES: The Seller shall pay all 2020 Real Estate Taxes due in 2021. The buyer shall pay all due 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 date has 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.