Wednesday, September 05,2007 01:00 PM  thru  03:00 PM
Tuesday, September 25,2007 01:00 PM  thru  Friday, September 25,0207 03:00 PM
Thursday, October 04,2007 01:00 PM  thru  03:00 PM

Located at I-65 and State Road 26 in Lafayette, IN. Exit 172 and go east on SR26 to Meijer Drive then south to property

SEALED BID AUCTION: BID SUBMISSION DEADLINE - FRIDAY, OCTOBER 19, 2PM

- Offer to Purchase Download Word Document of the Reynolds Commercial Offer to Purchase.

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- Sealed Bid Instructions Download Word Document highlighting the Reynolds Commercial Auction Sealed Bid Instructions.

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Tract 1: 6± acres and 30,000 SF Commercial Bldg.
MINIMUM RESERVE PRICE = $1,920,000



Tract 2: 4± acres of wooded vacant land
MINIMUM RESERVE PRICE = $580,000

Bid your price for either tract or the entire property. This property will sell to the highest bidder(s) at or above the published reserve of $2.5 million. Refer to the Terms and Conditions Instruction Sheet for bidding.

SEALED BID MATERIALS: This Property Information/Bidders Packet has been prepared which provides general instructions and contains basic property information and all forms necessary to submit a sealed bid, including legal description, Offer To Purchase Real Estate By Sealed Bid Auction, title report, plats, and property details. Prospective bidders are advised to review all information available from broker, seller and other sources prior to submitting a bid. Materials provided to bidders are for informational purposes only and may not be relied upon. It is highly recommended and encouraged that each bidder independently verify all information and perform his/her own physical inspection of the property.
TERMS AND CONDITIONS FOR BIDDING:

• All offers must meet or exceed the Reserve Selling Price of $2,500,000, or:
• $1,920,000 on the 6+/- acres and improvements (Tract 1)
• $580,000 on the 4+/- acres of wooded and bare land (Tract 2)
• The sale of the 4+/- acre tract is contingent upon the successful sale of the 6ﾱ acre tract.
• TIE BIDS: In the event of tie bids, the Owners reserve the right to request a Best and Final Offer to be submitted not later than 1 pm, October 23, 2007.
• CLOSING: To be cash terms on November 30, 2007. Closing is subject to final Replat approval and recording if the Tracts sell separately.
• TAXES: To be prorated to date of closing.
• POSSESSION: On day of closing.
• SURVEY: Up-to-date survey identifying location of corners and right-of-way shall be furnished.
• TITLE: Conveyed by Trustee Deed with Owners Title Insurance. A preliminary Title Insurance policy is available in a Bidders Packet.
• FINANCING: Bidding is not conditional upon financing.
• CONDITION: Broker, Seller, and their respective officers, employees, and agents offer the property in an as-is, where-is condition, with all faults.

OFFER REQUIREMENTS: All offers must be sealed and the name and address of the offering party must appear on the outside front of the envelope. Offers must be in writing on the enclosed Offer to Purchase Real Estate by Sealed Bid Auction provided by the Auction Company in the Bidders Packet and must be received by Schrader Real Estate and Auction Company, Inc. 950 N. Liberty Drive, P.O. Box 508 Columbia City, IN 46725 by 2:00 pm (Indiana Time) on October 19, 2007. Bidder may deliver or use overnight delivery service.
ALL OFFERS MUST BE ACCOMPANIED by a Cashiers Check in the amount equal to five percent (5%) of the bid price. Check must be payable to Schrader Real Estate & Auction Co. Escrow. The check will be deposited only if bid is accepted. An additional earnest money deposit equal to 5% of the accepted bid is to be paid to Schrader Real Estate & Auction Co. Escrow within two (2) business days after acceptance of any offer. Checks submitted with unacceptable bids will be returned within three (3) business days after the bids are rejected.

Owners: Arzell W. Reynolds Trust Sale Manager: Bill Haworth Arline Reynolds Trust