Saturday, February 23,2008 09:00 AM  thru  12:00 PM

From Kentland, IN, go approximately 6-1/2 miles north on US 41 to SR 16, then go 1/2 mile west at the intersection to CR 275W (Ade), then go 1 mile north on CR 275W. The property will be on the west side of CR 275. This farm has frontage on CR 275W and CR 350W.

Kentland Town Hall located at the northwest corner of the Court House (3rd & Dulap), Kentland, IN.

Note: Mr. Jack Storey has planted wheat on 54 acres of land on the west side of this tract and the Buyer of Tract 2 will pay Mr. Storey for the cost of planting the wheat crop. The present owner of the farm to the south of Tract 2 has an easement at the southwest corner of Tract 2 for ingress and egress. Also, the present owner of the farm south of Tract 2 will allow the Buyer of Tract 2 to go through his farm for installing tile for Tract 2 to the open ditch, if they desire.

Tract 1: 3 acres. This 4 bedroom farmhouse is situated on 3 acres of land. This tract also has a barn, tool shed and 2 grain bins.

Tract 2: A 252± acre tract with frontage on CR 275W and 350W. This tract has excellent soils and approximately 230 acres of tillable land.

FSA Information: Farm # 2758, Tract # 1564, Farmland 240 Ac., Cropland 230.4 Ac., Corn Acres 174.1, Direct CC Yield 118 bu., Soybean Acres 55.3 Ac., Direct CC yield 42 bu.

PROCEDURE: The property will be offered in 2 individual tracts, any combination of tracts and as a total 255ﾱ acre unit. There will be open bidding on both tracts and combinations during the auction as determined by the Auctioneer. Bids on either tract and the total property may compete.

BUYERS PREMIUM: A 2% Buyers Premium will be added to the final bid price and included in the contract purchase price.

DOWN PAYMENT: Real Estate 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, cashiers 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 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: Preliminary title insurance policies will be available to Buyers prior to the auction inspection dates. The Seller will provide title insurance in an amount equal to the contract purchase price.

DEED: Seller shall provide Warranty Deed.

CLOSING: A closing will occur within 15 days after presentation of insurable title policy.

POSSESSION: On date of closing. Possession of grain bins on July 1, 2008

REAL ESTATE TAXES: Buyer will pay the May 2009 real estate taxes and May 2008 ditch taxes, if any. According to the Newton Co. Treasurers Office, the 2006-2007 Real Estate taxes were approx. $6584.20. 2007 Ditch tax $637.70/yr.

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 difference between advertised and surveyed acres.

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 & 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 persons 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.