Sunday, November 11,2007 02:00 PM  thru  04:00 PM
Tuesday, November 20,2007 05:00 PM  thru  07:00 PM

Approximately 3 miles west of Highway 3 on Dupont Road, or 2 miles east of U.S. 33

The Allen County Fairgrounds, 2726 Carroll Road, Fort Wayne, Indiana

TRACT 1: 5 ACRES - A sloping open building site with over 400 feet of road frontage. There is a high point of elevation in the middle with a natural slope off to the back. Great private backyard site! The tract backs up to a farm field.

TRACT 2: 5 ACRES WITH POND - This tract features a 1 acre stocked pond, and also slopes to the back from the road. Again, this tract has over 400 feet of road frontage and backs up to a farm field. This tract is adjacent to the existing farmstead. Combine tracts 1 and 2 for a 10 acre ready made estate site!

TRACT 3: 5.5 ACRES WITH HOME AND BUILDINGS - The home, built in 1960, is 1630 square feet with 3 bedrooms, two baths a large country kitchen and living room. There is a 24 x 36 metal work shop with electricity and concrete floors. There is also a 38 x 60 hewn beam barn plus a garden shop. There is also a wire corn crib. Combine tract 4 to this for an 18 acre mini farm.

TRACT 4: 12.5 ACRES - This tract includes what was the Blueberry field in the front. It also slopes up to the back for a picturesque building site in the back. There is a partially wooded area in the back with hunting possibilities. The tract is bordered on the east and the south by the Benward ditch. There is over 300 feet of road frontage.

TRACT 5: 2 ACRE SWING TRACT - This tract is separated from the rest of the farm by the Benward ditch. It is mostly tillable and can only be purchased by an adjacent land owner or in combination with tract 4. Northwest Allen County Schools!

PROCEDURE: The property will be offered in 5 tracts, combination of tracts, and as a total 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: TRACT 3 and any combination with tract 3, $5000 down payment on the day of auction with the balance in cash at closing. LAND TRACTS, 10% down payment on the day of auction with the balance in cash at closing. The down payment may be made 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.

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. Seller reserves the right to reject any and all bids.

EVIDENCE OF TITLE: Seller shall provide an owner's title insurance policy in the amount of the purchase price.

DEED: Seller shall provide a Warranty Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession at closing, immediately following the closing.

REAL ESTATE TAXES: Seller to pay all 2007 taxes due in 2008, Buyer to pay all thereafter. Buyer to pay all ditch assessments due in 2007 or thereafter.

ACREAGE: All tract acreage, 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 the tract divisions in this auction create new boundaries. Solely the Seller shall determine any need for a new survey. 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 Seller's option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

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 Board of Health.

AGENCY: Schrader Real Estate & Auction Co., 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. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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 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.