Monday, January 21,2008 04:00 PM  thru  06:00 PM
Thursday, January 31,2008 04:00 PM  thru  06:00 PM

Approx. 3 miles south of Columbia City, IN on SR9. (Property frontages are on SR 9 and CR 400 S).

Oak Grove Church of God Fellowship Hall. 2 miles south of Columbia City on SR 9 to Keiser Rd., then east 1 mile to the Church (Raber Rd. and Keiser Rd.).

Tract 1: 20 acres of productive tillable land gently rolling with frontage on SR 9.

Tract 2: 20 acre parcel with approximately 8 acres of scenic woodland, and the balance tillable land. Frontage on SR 9.

Tract 3: 20 acre parcel approximately 5 acres wooded and the balance tillable land. Frontage on CR 400 S.

Tract 4: 17+ acres of open tillable land with frontage on SR 9 & CR 400 S.

Tract 5: 1440 sq. ft. country home, 3 bedrooms and 1 1/2 baths, situated on 3 acres. New roof in 2006, 5" well and a country setting make this a great place to raise a family. The 72'x34' bank barn with 24'x60' lean to will provide room for any kind of hobby! Combine with Tract 4 to create your own mini-farm with frontage on SR 9 and CR 400S!

PROCEDURE: The property will be offered in 5 individual tracts, any combination of tracts and as a total 80+ 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 individual tracts or combinations 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 a Trustee's Deed.

DEED RESTRICTIONS: The following deed restrictions shall apply if the property sells in multiple tracts: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes and typical doublewide modular homes.) The minimum square footage (exclusive of garages, basements and porches) on single story homes shall be 1,400 square feet. The minimum square footage on 1-1/2 story homes shall be 1,600 square feet. The minimum square footage on 2 story homes shall be 1,800 square feet. All homes must have no less than a 5/12 roof pitch and no less than a two-car, attached garage.

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 the 2008 real estate taxes due in 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. 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.