Friday, January 11,2008 03:00 PM  thru  05:00 PM

From Clay City, IN, take St Rt 246 west 6 miles to Co Rd 600 W turn north and proceed 1 mile to the property.

Clay City, Goshorn Memorial Park, Orange Building. From downtown Clay City take Main Street north to First Street, turn west 1/10 mile to Nye Street turn south 1/10 mile to Goshorn Memorial Park.

Tract 1: 40+ acres with 37.3 cropland acres, gentle sloping topography and good drainage.

Tract 2: 40+ acres with 35.9 cropland acres nearly level with county road frontage, creek and small woods.

Tract 3: 16.5+ acres all cropland, county road frontage on two sides.

Tract 4: 18+ acres all cropland, county road frontage on two sides.

Tract 5: 20+ acres fronting county road 600W, 11.4 cropland acres with the balance being woods, a good potential building site.

Tract 6: 40+ acres with 30.3 cropland acres, 3.6+ acres enrolled in Conservation Reserve Program CRP, the balance is in woods. Access is via an easement from Co Rd 800 S.

Tract 7: .5+ acres improved with 4 grain bins, (2) 6500 bushel with dryer & stirators, (2) 8500 bushel with dryer & stirators.

PROCEDURE: Tracts 1-7 will be offered in tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer.

BUYER'S PREMIUM: A 3% Buyer's Premium will be added to the final bid price and included in the contract purchase price.

DOWN PAYMENT: 10% of the accepted bid as down payment on the day of auction with 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. All final bid prices are subject to the Sellers' acceptance or rejection.

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, subject to tenants rights which expire February 28, 2008.

REAL ESTATE TAXES: Buyer shall assume the 2008 real estate taxes due in 2009. Buyer shall assume 2008 ditch assessments if any.

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 this auction. Any need for a new survey shall be determined solely by the Seller, cost of the survey will be split 50:50 between Buyer(s) 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, except on Tract 7 or any combination including Tract 7, if a new survey is determined to be necessary by the Seller. Tracts bid in combination shall receive a perimeter survey only.

EASEMENT: The sale of the property is subject to any and all easements of record.

CRP (Conservation Reserve Program): Buyer shall assume the income and responsibility of any real estate enrolled in the CRP Program. The 2008 CRP payment shall be conveyed to Buyer.

BROKER PARTICIPATION: A qualified real estate broker can earn up to 3% of the high bid amount. For Broker Participation Guidelines & Buyer/Broker Registration Form go to www.schraderauction.com or call the Auction Company 800-451-2709.

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 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.