Saturday, December 29,2007 09:00 AM  thru  12:00 PM
Saturday, January 12,2008 09:00 AM  thru  12:00 PM

From the intersection of SR 205 and SR 3 (Lima Rd), northeast of LaOtto, travel south on SR 3 for 1 mile to the property; or from the intersection of SR 3 and Interstate 69 in Fort Wayne, travel north on SR 3 ten miles to the property on the east side of SR 3.

Allen County Fairgrounds Administration Building, just west of SR 3 on Carroll Road. 2720 Carroll Road, Fort Wayne.

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TRACT 1: 26+ acres of mostly tillable land of predominantly Blount and Pewamo soils. This tract includes 42' x 100' pole building and approximately 550' of frontage on CR 68. This tract is an approved building site.

TRACT 2: 28+ acres of tillable land with predominantly Blount soils. Approximately 1300' of frontage on CR 68. Consider the possibilities of this potential building site.

TRACT 3: 64+ acres of productive tillable land with frontage on CR 66 & CR 68 of approximately 1050' and 200' respectively. Predominantly Blount and Pewamo soils. NOTE: Combine Tracts 2 & 3 for approximately 92 all tillable acres.

TRACT 4: 12+ acres of partially wooded land with approximately 900' of frontage on CR 66. Great potential building site with quick access to SR 3 & Ft. Wayne shopping.

TRACT 5: 12+ acres of wooded land with approximately 1000' of frontage on CR 66. This woods provides great hunting and recreation.

TRACT 6: 35+ acres of partially wooded "swing" tract. Only an adjoining landowner can bid on this tract without combining with other tracts. Consider combing with Tract 2 or 5 for a secluded potential building site!

PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts (subject to "swing" tract limitations) and as a total 177-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 for tracts or combination of tracts. 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.

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

DEED: Seller shall provide Warranty Deed.

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

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with taxes due in May 2009 and thereafter.

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 Seller's option and 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 Sellers, on all tracts or tract combinations. 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 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.