Tuesday, May 13,2008 05:00 PM  thru  07:00 PM

Northeast corner of 600 W. (County Line) and 400 S. From SR 3 go east 2 miles on SR 218. Turn north on 600 W. and go 2 miles to property.

Wells County 4-H Park Community Center, 1240 S. 4-H Road, Bluffton, IN. 4-H Grounds located on south edge of Bluffton on the west side of SR 1.

Tract 1: 86 acres consisting of 78 acres tillable land. This fantastic tract offers productive Del Rey Blount Silt and Pewamo Silty Clay Loam soils. Road frontage on both 600 W and 400 S. After 2008 harvest, buyer will receive $100 cash rent per tillable acre.

Tract 2: 20 acres of woods with 400' of road frontage on 400 S. Outdoor enthusiasts and hunters alike, here is your opportunity for that recreational piece of property youve been looking for.

Tract 3: 3 acres consisting of 2 acres tillable and 1 acre of woods. Possible building site with 445' of road frontage on 400 S. This tract offers lots of privacy at the woods edge. Combine with Tract 2 for a 23 acre nature paradise. After 2008 harvest, buyer will receive $100 cash rent per tillable acre.

PROCEDURES: The property will be offered in 3 individual tracts, any combination of tracts, or as a total 109 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.

DOWN PAYMENT: 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. Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed and are capable of paying cash at closing.

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 30-45 days after auction.

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.

POSSESSION: Possession on Tract 1 and 3 shall be given after all crops are harvested. Possession on tract 2 given at closing.

REAL ESTATE TAXES / CASH RENT: After 2008 harvest, Buyers of tract 1 and Tract 3 shall have the rights to the $100.00 per tillable acre from the tenant farmers for 2008 and shall pay 2008 taxes due in 2009. Taxes on tract 2 shall be prorated to day of closing. Annual real estate taxes on entire 109 acres is $962 for taxes payable in 2007.

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.

EASEMENTS: Sale of the property is subject to any and all easements of record.

MINERAL RIGHTS: Existing oil, gas, and mineral lease shall be 100% conveyed to Buyer(s). Contact Auction Company for a copy of the lease.

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.