Thursday, January 10,2008 10:00 AM  thru  02:00 PM
Saturday, January 19,2008 10:00 AM  thru  02:00 PM

Directions to Farm: (tracts 1-16) 11.5 miles east of downtown Bedford on US50 to the Leesville/Fort Ritner Road, then 4 miles south to the property. OR From the I65 exit at Seymour, go west on US50 25 miles, then 4 miles south on the Leesville/Fort Ritner Road. Directions to Bedford Property: (Tracts 17-23) Junction of US50 and Tunnelton Rd. at the east side of Bedford The 6 platted lots are situated in the East Lake Subdivision. Turn north on East Lake Drive just west of the Junction traffic signal. The entrance to the 170 acres is adjacent to the entrance to Foote's Tomb on the north side of US50 .5 miles west of the Junction.

Bedford Convention Center located at the Northwest corner of the Court House Square.

McINTYRE BOTTOMS: 575+ TILLABLE ACRES IN 2 FARMS W/LARGE FIELDS The tillable acres of this creek bottom land are high quality, very productive soils that yielded in excess of 200 bpa. of corn in 2007. The creeks carry the water quickly from the bottoms, so there is minimal risk of crop-damaging flooding.

Tract 1: 180 acres - 90.0 tillable acres, with 3 ponds, and sub-surface irrigation/drainage. The ponds are well-stocked with Bass, Catfish, Crappie, and hybrid Bluegill.

Tract 2: 71 acres - 49.6 tillable acres with creek crossover from Tract 1, or access from CR800.

Tract 3: 157 acres - 129.0 tillable acres with creek crossovers

Tract 4: 28 acres - 24.8 tillable acres with access on McIntyre Bottom Rd.

Tract 5: 21 acres - All wooded hunting/recreational ground overlooking McIntyre Bottoms with access on McIntyre Bottoms Rd.

Tract 6: 20 acres - All wooded hunting/recreational ground overlooking McIntyre Bottoms with access on McIntyre Bottoms Rd. Combine with Tract 5 for 43+ acres of natural beauty overlooking the bottoms.

Tract 7: 243 acres - 178.1 tillable acres. This highly productive tract has a creek dividing the tillable ground from the wooded slope that leads up to Devil's Backbone.

Tract 8: 162 acres - 104.0 tillable acres of highly productive soils and a crossover in the creek to access the east side of the creek. The east end of this tract also has access from Russell Lane.

Tract 9: 27 acres - 6.2 acres are tillable. This tract has great frontage on Devil's Backbone Rd, and Russell Lane and offers a great opportunity to build a home with a majestic view of the bottom land and the surrounding area. There is Rural water available along Devil's Backbone.

Tract 10: 57 acres - this scenic tract extends from Devil's Backbone Rd. down to White River. Great recreational possibilities and river access via Tunnel Hill Road.

Tract 11: 4 acres - this hunting and recreational tract offers access off of both Devil's Backbone and Tunnelton/Denniston Roads.

Tract 12: 20 acres - Build your dream home atop Devil's Backbone, with a panoramic view of woods, bottom land, and an old quarry. Great frontage on both Devil's Backbone and Tunnelton/Denniston Roads. Rural water is available.

Tract 13: 63 acres - This wooded hunting and recreational tract has extensive frontage on Tunnelton/Denniston Road.

Tract 14: 74 acres - This tract also has frontage on Tunnelton/Dennison Road, and includes a small pond. Explore the possibilities of building a hunting cabin or rustic home on this tract that overlooks extensive bottom land.

Tract 15: 130 acres - 111.5 tillable acres. This former dairy farm includes a 1974 square foot residence (note: the natural gas for heating the home is free); barns; machine sheds; concrete feeding area; 4 Harvestores w/unloaders; a concrete silo; 50,000 bushel grain storage w/leg; (2 bins have propane gas dryers, and all 5 bins have fans); and a 1,000,000 gallon Slurry Store. The milking facilities include: a Germania Double 8 Stainless Steel rapid exit system that is climate controlled; a 3000 gallon Dari-Kool stainless steel bulk milk tank; 90 steel free stalls; a totally automated feed room with control center; and a belt conveyor system serving approx. 175 feet of bunks. The farmstead also includes a scenic pond.

Tract 16: 2.0 acres - This tract features a 1704 square foot Bedford Stone home with a full finished basement and attached 2-car garage, and is situated on a hill surrounded by mature trees. The home is "all electric", and a new roof was installed 3 years ago.

Tract 17: 170 acres - This wooded recreational tract lies within the Bedford city limits and is accessed off of US50 via the entrance known as Foote's Tomb. There is deeded access adjacent to the Tomb access. There is also deeded access via the abandoned railroad bed (ties and rails removed) that forms most of the northern boundary of the property.






Tract 24: 3.0 acres - This tract is not a platted lot in East Lake subdivision, but it offers a commanding view of Bedford and the surrounding countryside. Bid on this tract for personal enjoyment, or combine it with Tract 17 for added access to the 170 acres.

PROCEDURE: This property will be offered in 24 individual tracts, any combination of tracts and as a total 1400ﾱ 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.

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.

DOWN PAYMENT: 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.

CLOSING: The balance of the purchase price is due at closing, which shall take place within 15 days from delivery of marketable title. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller.

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

POSSESSION: Possession is at Closing

REAL ESTATE TAXES: Buyer shall assume the 2008 real estate taxes due in 2009. Buyer shall assume any Ditch Assessments after closing.

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on aerial photos and the current legal description.

FSA INFORMATION: The farms have not been enrolled in Government Programs; therefore the new owner(s) will have to establish new yields and bases with the local FSA Office if it is permitted by the new farm bill. Contact the Lawrence Co. FSA office at 812-279-8117 for further information.

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, if any.

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 the auction. Any need for a new survey will 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 sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Seller. The adjustments will be made only on tracts that are 4 acres or more, and do not contain improvements. Tracts bid in combinations shall receive a perimeter survey only.

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 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 conduction 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 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