Saturday, October 06,2007 10:00 AM  thru  12:00 PM
Thursday, October 11,2007 04:00 PM  thru  06:00 PM

Southeast corner of County Roads 700 N and 400 W, Union Twp. Directions: From Uniondale west 3 miles on US Hwy 224 to CR 400 W, north 1 mile to the property. From Markle: 1 mile north to CR 700 N, east 2-1/2 miles to the property.

Irish Acres Business Park (formerly Terry's Cycle Sales) from Ossian 2 miles south on St. Rd. 1. Auction location 7 miles due east of property.

Tract #1: 19 Acres all cropland, located on Co. Rd. 700 W. Soils: Blount-Del Rey silt loams, Del Rey-Blount silt loams, and Pewamo silty clay loam.
Tract #2: 40 Acres all cropland, located on the corner of Co. Rds. 700 N and 400 W. Del Rey-Blount silt loams and Pewamo silty clay loam.
Tract #3: 12 Acres. Potential home site with 4 acres of woods and 8 acres of tillable land.
Tract #4: 12 Acres. Potential home site with 4 acres of woods and 8 acres of tillable land.
Note: Tracts #3 & #4 offer purchaser the opportunity to build their home on the edge of the woods.

PROCEDURES: The property will be offered in 4 individual tracts, any combination of tracts, or as a total 83 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. Subdivision subject to the approval of Wells County Planning Commission.
DOWN PAYMENT: Real Estate 10% down payment on the day of the auction with the balance in cash at closing. The down payment may be made in the form of cash; 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: Successful bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller's acceptance or rejection..
EVIDENCE OF TITLE: Sellers shall provide an owner's title insurance policy in the amount of the purchase price.
DEED: Sellers shall provide Warranty Deed.
CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of title policy estimated 30-45 days after auction.
POSSESSION: At closing.
REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.
ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.
SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) and Seller will share survey expense 50:50. Combination purchases will receive a perimeter survey only. Closing prices will be adjusted to reflect any differences between advertised and surveyed acreage's.
EASEMENTS: Sale of the property is subject to any and all easements of record.
MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.
AGENCY: Schrader Real Estate and 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 "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, 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the person's credentials, fitness, etc. All decision of the Auctioneer is final.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.