Tuesday, May 13,2008 04:00 PM  thru  06:00 PM
Thursday, May 22,2008 04:00 PM  thru  06:00 PM

From the intersection of SR 205 and HWY 33 downtown Churubusco, travel northwest HWY 33 2± miles to CR 750 E. Turn north on CR 750 E and travel 2± miles to the property on the east side of the road. (CR 750 E becomes CR 400 E in Noble County) 4405 S 400 E, Churubusco.

AUCTION TO BE HELD ON SITE

TRACT 1: 5± acres potential building site with approx. 320 feet of road frontage on CR 400 E. Beautiful setting for a walk-out basement. Consider combining with Tract 3 for a 12± acre retreat!

TRACT 2: 8± acres including the 1,549 sq. ft., 4-bedroom country home, 36x56 heated garage/shop with bathroom and bank barn. There is a cabin on an island in the middle of the stocked pond that is perfect for relaxation and fun for families of all ages. Come to an inspection and see all this tract has to offer! 4405 S 400 E, Churubusco.

TRACT 3: 7± acre swing tract of wooded land. The woods is great for recreation or as a backdrop to your new home. Only an adjoining landowner can bid on this tract without combining it with another tract providing road frontage.

TRACT 4: 20± acres with 19± acres tillable. This tract offers a great elevated setting. Imagine your new home here! Yield great returns on tillable land. Immediate possession for farming purposes. Approx. 515 feet of road frontage on CR 400 E.

PROCEDURE: The property will be offered in 4 individual tracts and as a total 40-acre unit. There will be open bidding on tracts and tract combinations (subject to swing tract limitations) 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 for bare land. 5% down payment on the day of auction for the home tract or any combination of tracts including the home. Immediate possession of tillable land for farming purposes with 25% down payment. 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: 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 owners title insurance policy in the amount of the purchase price.
DEED: Seller shall provide Warranty 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: Seller will pay real estate taces due in May 2009, Buyer will pay all taxes 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 Bidders 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 Sellers 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 other than Tract 2 or any combination including Tract 2.
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.