Sunday, October 21,2007 02:00 PM  thru  03:30 PM

North of Fort Wayne on SR 3 to Hathaway Road, then west 3 miles to the property.

Allen County Fairgrounds Administration Building (west of SR 3 on Carroll Road).

Tract 1: 6.5 acres with frontage on Johnson & Hathaway Roads and a 20ftx60ft barn and fenced pasture.
Tract 2: 7.5 acres with 600ft of frontage on Hathaway Road.
Tract 3: 2.5 acre knoll with Hathaway Road frontage on 2 sides and just 2 miles from the new Northwest Allen Middle School.
Tract 4: This 5 acres is not a buildable land tract, should be purchased by an adjoining land owner or combined with Tract 3 and/or Tract 5.
Tract 5: 27.5 acres of farmland with 50ft of owned access from Hathaway Road.
Tract 6: 20 acres of Morley, Miami & Crosby soils farmland or spacious mini estate with 100ft of frontage on Johnson Road.
Tract 7: 3.3 acres with 2 story, 4 bedroom primary home; 1 1/2 story, 4 bedroom rental home; 30ftx50ft 4-H animal barn; and fenced pasture all at the corner of Johnson & Hathaway Roads.

PROCEDURE: The property will be offered in 7 individual tracts, any combination of tracts and as a total 72-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.
DOWN PAYMENT: 10% down payment on the day of auction. 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: 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 an owners title insurance policy in the amount of the purchase price.
DEED: Seller shall provide General Warranty Deed(s).
DEED RESTRICTIONS: The following deed restrictions shall apply if the property sells in multiple tracts: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes and typical doublewide modular homes.) The minimum finished square footage (exclusive of garages, basements and porches) on single story homes shall be 1,400 square feet. The minimum finished square footage on 1-1/2 story homes shall be 1,600 square feet. The minimum finished square footage on 2 story homes shall be 1,800 square feet. All homes must have no less than a 5/12 roof pitch and no less than a two-car, attached garage.
PERIMETER DRAIN TILE EASEMENT: Easement access will be provided over tracts in this property for perimeter drain tile outlets if perimeter drain tile outlets beyond each individual tract are required by the Allen County Health Department.
CLOSING: The balance of the purchase price is due at closing, which will take place within 15 days of presentation of insurable title (prior to January 1, 2008). Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.
POSSESSION: Possession of farmland at closing, subject to tenants rights to harvest 2007 crops. Possession of homes by January 15, 2008.
REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with taxes due in November 2008 and thereafter. Any ditch assessments after closing will be buyers responsibility.
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. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres on any tract or combination of tracts greater than 10 acres. The closing price of Tract 7 or any combination that includes Tract 7 will not be adjusted. 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.