Monday, February 18,2008 03:00 PM  thru  05:00 PM
Saturday, February 23,2008 10:00 AM  thru  12:00 PM
Thursday, March 06,2008 02:00 PM  thru  04:00 PM

At northwest edge of Morristown and adjoining the Bunge Plant on the north side. From Hwy. 52 north on Co. Rd. 500E then 1 mile to Co. Rd. 1100N. Turn right to Tracts 1 thru 12. Turn left to Tract 13 or from Hwy. 52 north on Co. Rd. 600E then 1.5 miles to Tracts 1 thru 4 at the corner of Co. Rd. 600E and Co. Rd. 1100N.

Morristown High School Cafeteria, 223 S. Patterson Street, Morristown at Hwy. 52 and Patterson Street downtown Morristown. Turn south on Patterson 1/2 block to entrance on the east side of the building/administration office.

Tract 1: 55 acres with est. 52 acres cropland. Unique log barn included. Est. 1,800 ft. of frontage. North boundary is south bank of stream.

Tract 2: 12 acres all cropland with est. 590 ft. of frontage on Co. Rd. 1100N. Not buildable unless purchased with Tracts 1 or 3. Stream is on this tract.

Tract 3: 5 acres with older 1.5 story farmhouse in poor condition. This tract is buildable. Here is your place in the country with plenty of room. Est. 250 ft. of frontage.

Tract 4: 10 acres all cropland with est. 530 ft. of frontage on Co. Rd. 1100N and 800 ft. of frontage on Co. Rd. 600E. Stream is on this tract. Not buildable unless purchased with Tracts 1 or 3.

Tract 5: 80 acres all cropland. High quality Brookston and Crosby soils. Ready to farm.

Tract 6: 39 acres all cropland. Est. 315 ft. of frontage on Co. Rd. 1100N. Buy separately or in combination. Top Brookston and Crosby soils. Tract 7: 15 acres with two story Victorian 2,815 sq. ft. farmhouse with great porch in nice setting. Needs renovation. 12,000 Bu. and 10,000 Bu. bins. 3 phase power. 28' x 60' barn and several other outbuildings. Pretty woods, pasture and stream area surrounding. Don't miss this chance to restore a real gem.

Tract 8: 8 acres with a cottage home of 1,288 sq. ft. Needs renovation also 40' x 40' frame barn to the west. 5 acres cropland and 3 acres wooded pasture area. Remodel or build a new home. Nice place for family horse or 4-H project. These properties are hard to find.

Tract 9: 37 acres (swing tract) with est. 27 acres cropland and 10 acres woodland. Steam runs across the corner. This tract must be bought in combination or with adjoining landowner. Separate access will not be provided.

Tract 10: 32 acres with est. 21 acres cropland and 11 acres pretty woods and stream. Great ATV trails and 875 ft. of frontage on Co. Rd. 500E. *Property will be surveyed to 21 acres cropland if purchased separately.

Tract 11: 27 acres with est. 21 acres cropland and 6 acres woods and stream area. Est. 750 ft. of frontage on Co. Rd. 500E. *Property will be surveyed to 21 acres cropland if purchased separately.

Tract 12: 37 acres with estimated 36 acres cropland. Crosby soils. Est. 875 ft. of frontage on Co. Rd. 500E and 1,320 ft. on Co. Rd. 1100N. Adjoining Bunge Plant. Great investment.

Tract 13: 24 acres all cropland at the corner of Co. Rd. 1100N and Co. Rd. 450E.

*All tracts are sold subject to Shelby County Zoning Ordinance. For information call Zoning Office at 317-392-6338.

PROCEDURES: The property will be offered in 13 individual tracts, any combination of tracts, or as a total 381+ 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. Tract 9 must be bid in combination or by adjoining landowner.

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. Immediate possession of cropland at conclusion of auction with additional 10% down payment. 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 Warranty Deed.

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of title policy estimated on or before April 20th.

POSSESSION: At closing. Buyer(s) have full rights to farm in 2008. Immediate possession of cropland at conclusion of auction with additional 10% down payment.

REAL ESTATE TAXES: Estimated at $11,300.78. Buyer shall assume taxes for 2008 payable May 2009 and thereafter. See agent per tract.

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 acreage's.

FSA INFORMATION: Farm #3841, total cropland 321.2. Corn base of 169.4 acres with yield index of 113 Bu., Soybean base of 76.3 acres with yield index of 34 Bu. and Wheat base of 13.3 acres with yield index of 48 Bu. 2007 Direct Payment is $5,809.00

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.