Sunday, August 24,2008 02:00 PM  thru  05:00 PM
Thursday, September 04,2008 04:00 PM  thru  06:00 PM

Take US 31 south of US 20/31 bypass to Kern Road (stop light), turn west on Kern Road and continue 1 1/2 miles to Locust Road. The property is located at the southwest corner of Locust and Kern Roads

Room at Farm Bureau Insurance building and FSA Office at 5605 US 31 South, 1/4 mile south of US 20/31 bypass

TRACT 1: 2.156 acres with one attractive country building site located at southwest corner of Kern and Locust Roads. This is a recorded platted lot in Abby's Major Subdivision with 303' frontage on Kern Road and 310' frontage on Locust Road with the driveway access on Locust Road.

TRACT 2: 2.156 acres with 310' frontage on Locust Road just south of Kern Road. This is a recorded platted lot in Abby's Major Subdivision with one beautiful country homesite. Rare opportunity to purchase this size homesite in St. Joseph County.

TRACT 3: 5.335 acres with 4.5 acres of cropland. This is a recorded lot in Abby's Major Subdivision with one country homesite large enough for a barn and horses. 375' frontage on Kern Road west of Locust Road 1,000'.

TRACT 4: 16.74 acres with 15 acres of gently rolling cropland plus tree line on east part of tract. 372' of frontage on Locust Road just south of Kern Road. This is a recorded platted lot in Abby's Major Subdivision. Beautiful building site. At southeast corner is an open drainage ditch with a 75' drainage easement and same 75' area shall be subject to an agricultural and recreational access easement for Buyer of Tract 5. Can combine with Tract 5 for 88.74 acres.

TRACT 5: 72 acres with 50 acres of fairly level cropland divided by the Auten open drainage ditch; plus 15 acres of rolling wooded land with some steep slopes (up to 50' per topo map). Can view by SUV traveling along the north and west side of open drainage ditch. Based on acreage and frontage, Buyer could potentially qualify to secure 2 building sites without platting. There is one easily accessible building site between Locust Road and the open drainage ditch. 1535' of frontage on Locust Road. Buyer will have agricultural and recreational easement access off Locust Road north of open drain which will provide access west of open drain without installing a culvert crossing in the open drain to access the westerly 58 acres.

PROCEDURE: The property will be offered in 5 individual tracts and any combination of tracts.

DOWN PAYMENT: 10% down payment on the day of auction with the balance in cash at closing. 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 Seller's acceptance or rejection.

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

DEED: Seller shall provide a General Warranty Deed.

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

POSSESSION: Possession of land will be at closing, subject to 2008 crop removal and current hunting lease expiring August 2009.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with 2009 taxes due in 2010.

EASEMENT: Tract 4 at southwest corner is an open drainage ditch with a 75' drainage easement and same 75' area shall be subject to an agricultural and recreational access easement for Buyer of Tract 5.

SURVEY: Sellers will provide legal descriptions as needed to provide good title. Seller has completed recent surveys and will provide metes and bounds description for Tract 5. If Buyer(s) requires new corner markers, the cost will be paid by Buyer(s).

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.

DEER and TURKEY PHOTOS: These photos are for illustrative purposes only and were not taken on site.