Tuesday, November 27,2007 01:00 PM  thru  03:00 PM

From I-74 Exit 200, travel north approximately 7.5 miles on Hwy 49 to road 2500 N and travel east approximately 1 mile to the property. Watch for Signs!

Holiday Inn Hotel & Conference Center (I-74, Lincoln Avenue Exit #183) 1001 Killarney St. Urbana, IL 61801

Primary soil types are Elliott & Ashkum, Real estate taxes average $10.24 per acre, Tract 8 offers a scenic country setting with your own private lake, Tract 1 includes an old corn crib, Tracts 3 & 8 each include a machine shed

PROCEDURE: The property will be offered in 10 individual tracts or in combinations. The property will be sold in the manner resulting in the highest total sale price.

DOWN PAYMENT: A 10% down payment of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of personal check, business check, or cashier's check. The balance of the contract purchase price is due in cash at closing within 30 days. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

ACCEPTANCE OF BID PRICES: All successful bidders will sign a purchase agreement at the auction site immediately following the close of bidding. All final bid prices are subject to the owner's acceptance or rejection.

BUYER'S PREMIUM: A four percent (4%) Buyer's premium will be added to the final bid price to arrive at the total contract purchase price paid by the Buyer.

BUYER BROKER PARTICIPATION: A commission will be paid to any properly licensed Buyer Broker who registers a successful buyer according to the Broker Participation Guidelines. Broker Registration Forms are available from the Auction Information Office. Forms must be completed and returned no later than 48 hours prior to the auction.

CLOSING: Closing shall take place 30 days after auction day, or as soon thereafter as applicable closing documents are completed. Anticipated closing date is on or before January 18, 2008.

POSSESSION: Possession will be given at closing subject to any remaining rights of the current tenant(s). The lease-rights are open for the 2008 crop year.

TITLE: Seller shall provide an Owner's Policy of Title Insurance in the amount of the purchase price, and shall execute a proper deed conveying the real estate to the buyer(s). Seller shall pay the premium for the title insurance policy.

REAL ESTATE TAXES AND ASSESSMENTS: Seller shall be responsible for paying real estate taxes and assessments on the property for the 2006 calendar year before or at closing and the 2007 calendar year taxes payable in 2008 will be paid in the form of a credit to the buyer at closing. Buyer will be responsible for all taxes and assessments thereafter.

CRP CONTRACT: Buyer(s) agrees to assume and shall maintain the CRP contracts currently in place and indemnify Seller from loss or claims due to Buyer's non-assumption, forfeiture or non-renewal of the said contracts.

EASEMENTS AND LEASES: Sale of said property is subject to any and all easements of record and any and all government leases.

SURVEY: AT THE SELLER'S OPTION, the Seller shall provide a new survey where there is no existing legal description. Any need for a new survey shall be determined solely by the Seller. The Seller will pay 100% of the cost if a survey is needed. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance.

MINERAL RIGHTS: The sale of the property shall include all mineral rights owned by the Seller, if any.

AGENCY: Westchester Auctions, LLC 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 agreement to purchase.

ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. 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, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but 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. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at 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.

NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.

NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior approval from Westchester Auctions, LLC.

SELLERS: Frerichs Family Trust, Sandra Meier, Lana Sund, Randy Frerichs & Gene Frerichs