Sunday, September 30,2007 12:00 PM  thru  01:30 PM
Tuesday, October 02,2007 05:00 PM  thru  06:30 PM

DIRECTIONS: From Ligonier: From the intersection of US 6 & US 33 in Ligonier travel southeast on US 33 4 miles to Albion Rd (400N). Turn East 2.5 miles to CR 450 W., then go south 1/2 mile to property.
From Albion: From the intersection of SR 9 and Jefferson St. (on the north side of the courthouse) travel west on Jefferson St. (Albion Rd.) 5 miles to CR 450W, then go south 1/2 mile to property.

At Knepper's Reception Hall, located 1/4 mile west of Hwy. 33 on Cromwell Rd., just south of Kimmell.

TRACT #1: 9+/- acres, woods and pines, great potential building site, approximately 390 of road frontage on CR 450 W.
TRACT #2: 9+/- acres, woods and pines, potential building site, approx. 390' of frontage on CR 450 W.
TRACT #3: 9+/- acres, small wooded area with remainder pasture, excellent potential building site, approximately 390' of frontage on CR 450 W.
TRACT #4: 23+/- acres, secluded, wooded land on the scenic Elkhart River with Pole Building. Potential building site. Planted Cyprus trees. Great for hunting, fishing and recreational use. Approximately 150' of road frontage.
TRACT #5: Swing tract, 20 acres, mostly wooded and small pasture. Borders the Elkhart River. This tract must be purchased with any adjoining tract or combination of tracts with road frontage, or by an adjoining landowner. COMBINE with tracts 1, 2 or 3 for river frontage.

PROCEDURE: Tracts 1-5 will be offered in individual tracts, and in any combination of these tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. Tract 5 is a swing tract and must be purchased by an adjoining landowner or in combination with other tracts with road frontage. The property will be bid on in the manner resulting in the highest total sale price.
DOWN PAYMENT: 10% of the accepted bid as down payment on the day the auction with balance in cash at closing. The down payment may be in the form of cash, cashier's 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.
APPROVAL 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.
HOME RESTRICTIONS: No mobile homes shall be placed on the property at any time. All homes placed on any tract, shall be no less than 1250 square feet of living space excluding garage and basement and must be placed on a permanent foundation. All homes shall have a roof pitch of 412 or greater. These restrictions shall be deeded.
DEED: Seller shall provide a warranty deed.
EVIDENCE OF TITLE: Seller shall provide title insurance in the amount of the purchase price.
CLOSING: Closing shall take place 15 days after proof of merchantable title.
POSSESSION: At closing.
REAL ESTATE TAXES: Seller shall pay real estate taxes for 2007 due in 2008, Buyer shall pay taxes there after.
DITCH ASSESSMENTS: Buyer shall pay all ditch assessments due after closing.
ACREAGE: All acreage is approximate and has been estimated based on current legal descriptions and/or aerial photos.
SURVEY: AT THE SELLER'S OPTION, 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 the auction. Any need for a new survey will be determined solely by the Seller, cost of the survey will be split 50/50 between Buyer and Seller. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Seller. Tracts bid in combinations shall receive a perimeter survey only. There shall be no adjustment for Tracts or combinations of tracts 12 acres or less.
EASEMENTS: The sale of the property is subject to any and all easements of record.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE. Tract acreage has been estimated based on aerial photographs. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, 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. All sketches and dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and the Auction Company make no warranty or representation, express or implied or arising by operation of law, including an warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person's 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.