Thursday, February 07,2008 04:00 PM  thru  06:00 PM

From the intersection of Sparta Lake Road and HWY 33, northeast of Kimmel, travel south on Sparta Lake Road 1.5 miles to the property on west side of the road.

At Knepper's Reception Hall, located 1/2 mile west of HWY 33 on Cromwell Road, just south of Kimmell.

TRACT 1: 28+ acres mostly tillable with 4+ acres of woods. Primarily Fox and Oshtemo soils. Approximately 650 feet of combined frontage on Sparta Lake Road.

TRACT 2: 51+ acres all tillable of primarily Fox, Oshtemo and Sebewa soils. Approximately 475 feet of frontage on Sparta Lake Road. TRACTS 3 & 4 are "swing" tracts. These tracts must be purchased combined with Tract 2 unless bid on by an adjoining landowner.

TRACT 3: 13+ acre "swing" tract of mostly tillable land and productive Sebawa soils.

TRACT 4: 20+ acre "swing" tract with approximately 5 acres tillable and 14 acres woods. Consider the hunting and recreation potential!

PROCEDURE: The property will be offered in 4 individual tracts, combination of tracts (subject to "swing" tract limitations) and as a total 112-acre unit. There will be open bidding on tracts, combinations and the total during the auction as determined by the Auctioneer. Bids on individual tracts, tract combinations and the total property may compete.

DOWN PAYMENT: 10% down payment on the day of auction. 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 Trustee Deed(s).

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 administered closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession will be 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.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquires and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidder's safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

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.

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.