Thursday, February 21,2008 04:00 PM  thru  06:00 PM

West of Fostoria, approximately 3 miles on 613 at Washington Township Rd 289.

UAW Fellowship Hall, 625 Plaza Dr, Fostoria OH. At the intersection of OH-199 and Plaza Dr. Northwest Ohio approximately 40 miles southeast of Toledo. The Ohio Turnpike I-80/90 and Interstate 75 are easily accessible within 20 minutes of Fostoria.

For the Farmer: This property offers approximately 221 acres of prime, level, productive, tillable farmland, mostly Fox Loam, Alvada and Hoytville soils.

For the Investor: Rarely does a farm of this size and quality come on the market place featuring prime soils. If you are selling real estate and would like to defer capital gains taxes through a 1031 like kind exchange, consider the quality offered by this productive land.

Tract 1: 120 acres of productive tillable land. This tract offers mostly Hoytville soils with road frontage and some open ditches along the west edge of Baird Rd.

Tract 2: 65 acres of productive tillable land. This tract offers mostly Mermill soil and road frontage along 613 and Baird Rd.

Tract 3: 22.5 acres of productive tillable land. This tract consists of mostly Fox Loam soil and has 1800 feet of road frontage along 613.

Tract 4: "Swing tract" 19.5 acres of productive land consisting of mostly Alvada soils. This tract must be purchased by an adjacent landowner, unless legal access can be assured prior to auction date.

Real estate taxes: Washington Township: $502.00 Perry Township: $673.00

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 227 acres. 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: The Seller agrees to furnish Bidders a commitment for an owner's policy of title insurance to review. If the Buyer(s) elect to have the title commitment executed the cost will be the responsibility of the Buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters.

DEED: Seller shall provide Warranty Deed(s). Real estate sold subject to all rights of way, legal highways, leases and easements of public road.

CLOSING: The balance of the purchase price is due at closing, which will take place as soon thereafter as Seller's closing documents are available. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

REAL ESTATE TAXES: Buyer shall assume 2008 taxes due in 2009. If usage is changed, the Buyer is responsible for CAUV Recoupment.

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 any post auction survey. Combination purchases will receive a perimeter survey only.

PROPERTY INSPECTION: Each potential Bidder is responsible to conduct, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection date has been scheduled and will be staffed with auction personnel. Please feel free to inspect the land at any other time at your own risk or call for an appointment.

EASEMENTS: Subject to any and all existing easements.

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.