Thursday, January 10,2008 03:00 PM  thru  05:00 PM
Saturday, January 12,2008 10:00 AM  thru  12:00 PM

Near Middletown, Daleville and Oakville communities of Madison, Henry and Delaware Counties between Muncie and Anderson. Indianapolis is 30 minutes south on I-69.

Millcreek Civic Center/Chesterfield. Address: 17 Anderson Road, Hwy. 32, Chesterfield. From I-69 at Hwy. 67 under I-69 then right at second light then 1 block to Hwy. 32 then west 1.5 miles to Civic Center on south side or I-69 exit at Hwy. 32 West continue west 1.5 miles.

FARM #1 - 98+ acres - Madison County located 350 ft. north on Hwy. 236 on Madison County Road 450E. Taxes 2007 $1,674/yr.

Tract 1: 97 acres level top cropland. Almost .5 mile of frontage on Co. Rd. 450E. Anderson Schools. Brookston and Crosby high quality soils. Great investment farm.

FARM #2 - 98+ acres- Henry County located on the northwest corner of Middletown City limits. From Hwy. 236 north on Co. Rd. 800W (8th St.) .5 mile to Co. Rd. 950N then west about .5 mile to farm on south side. Shenandoah Schools. City utilities nearby. Taxes 2007 $1,501.28.

Tract 2: 47 acres with est. 37 acres cropland. Est. 900 ft. of frontage on Co. Rd. 950N.

Tract 3: 31 acres with est. 29 acres cropland. Est. 640 ft. of frontage on Co. Rd. 950N. Buy separately or with adjoining tracts.

Tract 4: 20 acres all cropland. Est. 600 ft. of frontage on Co. Rd. 950N. Nice investment tract. Top soils.

FARM #3 - 69+ acres cropland - Henry County located on northeast corner of Middletown. From Hwy. 236 north on Co. Rd. 800 one mi. to farm on the right. Also frontage on Co. Rd. 950N. Taxes 2007 $1,051.42/yr. Shenandoah Schools.

Tract 5: 27 acres all cropland. Est. 930 ft. of frontage on Co. Rd. 950N. Nice clean tract of investment quality.

Tract 6: 42 acres all cropland with est. 1,377 ft. of frontage on Co. Rd. 800W.

FARM #4 - 79+ acres cropland - Delaware County located 1 mi. north of Middletown on Co. Rd. 800W or from Daleville at Hwy. 67 south on Co. Rd. 800W. Taxes 2007 $1,480/yr.

Tract 7: 74 acres all cropland. Crosby and Brookston soils. Almost .5 mi. of frontage on Co. Rd. 800W.

Tract 8: 5 acres with 66' x 160' barn with 12' x 70' living quarters. Well/septic. 300 ft. of frontage. Est. 2.5 acres cropland behind barn. Built 1996.

FARM #5 - 139 acres+ Delaware County located 1.5 mi. north of Middletown or 1.5 mi. south of Hwy. 67 on Co. Rd. 800W and Co. Rd. 700 S. Excellent location. Taxes 2007 $1,226.85/yr.

Tract 9: 59 acres all cropland with est. 2,000 ft. of frontage on Co. Rd. 800W and est. 1,260 ft. of frontage on Co. Rd. 700S. All Crosby and Brookston soils.

Tract 10: 80 acres all cropland with top soils. County 12" tile on property. Buy separately or together. These level productive soils are hard to find. Frontage on CR 700 S.

FARM #6 - 86+ acres - Delaware County from Hwy. 67 south on Co. Rd. 300W 2 mi. to Co. Rd. 600S then right 1 mi. Taxes 2007 $672.42/yr.

Tract 11: 86+ acres all cropland. Crosby and Miami soils. Est. 1,400 ft. of frontage on Co. Rd. 600S.

FARM #7 - 61+ acres - Delaware County from Hwy 67 south on Co. Rd. 300W 2.5 mi. to farm on the west side. Taxes 2007 est. $530/yr.

Tract 12: 61 acres all cropland. Crosby and Brookston soils. Est. 330 ft. of frontage on Co. Rd. 300W. Note: 6 acre exception with 300 ft. of frontage. *Seller will participate in Buyer IRS Section 1031 exchange. *All Delaware County Farms are in Daleville Schools.

PROCEDURES: The property will be offered in 12 individual tracts, any combination of tracts, or as a total 630+ 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.

DOWNPAYMENT: Real Estate 10% down payment on the day of the auction with the balance in cash at closing. The down payment may be made in the form of cash; cashiers 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: Successful bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller's acceptance or rejection.

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

DEED: Sellers shall provide a Warranty Deed.

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 30 to 45 days after auction estimated on or before March 1st.

POSSESSION: At closing subject to 2008-2009 crop lease. Buyer to receive 2008 lease payment credit at closing at $150/USDA crop acres per tract. Buyer to assume existing cash lease for 2008 - 2009 crop years. Barn possession Tract 8 to be April 1, 2008. Lease is available, call agent.

REAL ESTATE TAXES: See tract descriptions. Buyer to pay taxes due and payable May 2009 and thereafter.

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) and Seller will share survey expense 50:50. Combination purchases will receive a perimeter survey only. Closing prices will be adjusted to reflect any differences between advertised and surveyed acreages.

FSA INFORMATION: See Agent. All farms entered in USDA Program for 2007.

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.

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 "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 subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the person's credentials, fitness, etc. All decision of the Auctioneer is final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.