Monday, March 03,2008 04:00 PM  thru  06:00 PM

Approximately 4 miles northwest of Fort Wayne on Hwy 33 to Lamlie Road, then south 1/4 mile to the property; OR on Hwy 30, 4 miles west of the intersection of I-69, travel north on Stahlhut Road 1-1/2 miles to Cook Road, then jog east to Lamlie Road and go north one mile to the property.

St. John's Lutheran Church of Lake Township located at 7914 W. Cook Road (the intersection of Cook Road & O'day Road).

TRACT 1: 4.5 acres of gently rolling land with approximately 425 feet of frontage on Lamlie Rd. Consider this wonderful potential building site in the Carroll School District.

TRACT 2: 9 acre "swing tract". This tract must be purchased in combination with either Tract 1 or Tract 3. Consider combining with Tract 1 for 13.5 acres and a "farmette" setting.

TRACT 3: 22 acres of gently rolling land including excellent Pewamo, Carlisle and Blount soils. Consider the potential this tract offers. Contact Auction Company for FSA information.

PROCEDURES: The property will be offered in 3 individual tracts, any combination of tracts, or as a total 35.5 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 subject to "swing tract" limitations.

DOWN PAYMENT: 10% down payment on the day of auction with the balance in cash at closing. 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: 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 Sellers' acceptance or rejection.

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

DEED: Seller shall provide Warranty Deed.

DEED RESTRICTIONS: A square area in the very northeast corner of the property (Tract 3) including approximately 450 ft. of width along Buesching Road and 450 ft. of depth along Lamlie Road shall include the following deed restrictions: No home nor any other improvements shall be constructed, nor any peat or other soil removal shall take place, until the year 2025, or at the time that the current residents of 8836 Lamlie Rd. no longer reside at that address, whichever is sooner.

PERIMETER DRAIN TILE EASEMENT: Easement access will be provided over tracts in this property for perimeter drain tile outlets if perimeter drain tile outlets beyond each individual tract are required by the Allen County Health Department.

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of insurable title.

POSSESSION: At closing.

REAL ESTATE TAXES: Seller to pay 2007 real estate taxes due 2008 and Buyer to pay all taxes due 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 acres on all tracts and tract combinations greater than 5 acres.

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. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.