Saturday, May 17,2008 09:00 AM  thru  12:00 PM
Sunday, June 01,2008 01:00 PM  thru  04:00 PM

From Intersection of US 20/SR 327, Go East on U.S. 20 approx. 2 miles to CR 800 W. Turn right (South) and go approx. 1 mile to the property. 1685 S. 800 W.,Hudson, IN.

Salem Center Vol. Fire Dept., located on 500 S. just 1 mile East of SR 327.

Tract 1: 23+/- Acres of Wooded paradise. This tract features mixed hardwoods and excellent deer and wild turkey hunting. This tract is enrolled in the Classified Forest Program and has an excellent mix of quality timber.

Tract 2: 15+/- Acres of mostly tillable land. This tract currently is planted to Alfalfa and buyer's will have immediate possession to harvest the 2nd cutting of hay or return the field to row crops. This tract has primarily Riddles Sandy Loam soil.

Tract 3: Country Home on approx. 2 Acres. This Country Home features 1,917 sq. ft. of living space which includes 4 bedrooms, 2 baths and a 2-car attached garage. Outside this tract features a 36'X72' Pole barn(partially concreted) w/a 14'X36' Lean-to that had been used for horses.

Note: Combine Tracts 2 and 3 for a great country setting for horses.

PROCEDURE: This property will be offered in 3 individual tracts, any combination of tracts, or as a whole 40 acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts and tract combinations.

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 sellers acceptance or rejection.

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.

CLOSING: The balance of the purchase price is due at closing, which shall take place within 15 days from delivery of marketable title. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller.

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

POSSESSION: Possession of land and home is at closing.

REAL ESTATE TAXES: Real estate taxes shall be prorated to the day of closing.

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on aerial photos and the current legal description.

SURVEY: The Seller(s) shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in the auction. Any need for a new survey will be determined solely by the Seller, cost of the survey will be split 50:50 between Buyer(s) and Seller. The type of survey performed shall be at the Seller's option sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, except on Tract 3 or any combination including Tract 3, if a new survey is determined to be necessary by the Seller. Tracts bid in combinations shall receive a perimeter survey only.

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 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 conduction 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 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.