Saturday, November 15,2008 01:00 PM  thru  03:00 PM

From Delphi, IN, go south on US 421, SR 18 & 39 approximately 1 mile to CR 100 N, then go approximately 1/2 mile east on CR 100 N to CR 625 W, then north on CR 625 W to Tract 4. Tracts 2 & 3 are located on CR 100 N, approximately 1/2 mile east of CR 625 W. Tract 1 is located approximately 2 miles east of Tracts 2 & 3 on CR 100 N

Carroll County 4-H Building located on east side of Flora, go east on SR 18 to 4th Street and go 1 block north on 4th Street to 4-H Building.

Tract 1: A 72 acre field with 70.81 acres tillable, excellent soils and frontage on CR 100 N and CR 450 W.
Tract 2: This 78 acre tract is mostly all tillable, with excellent soils and frontage on CR 100 N.
Tract 3: This 67.597 acre tract is tillable with some excellent soils and frontage on CR 100 N.
Tract 4: A 54.578 acre field with 53.6 acres of tillable land, excellent soils and frontage on CR 625 W.
RE Taxes- 2007 pay 2008 Tract 1 (approx.) RE - $24+/Acre Ditch $432.00/Year Tract 2 (approx.) RE - $22+/Acre Tract 3 (approx.) RE - $22+/Acre Tract 4 (approx.) RE - $23+/Acre

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts, and as a total 272.175+/- 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: 10% down payment on the day of auction. 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.
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: Sellers shall provide an owner's title insurance policy in the amount of the purchase price.
DEED: Sellers shall provide Trustee's Deed(s).
CLOSING: The balance of the purchase price is due at closing, which will take place on or before December 30, 2008. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.
POSSESSION: Possession at closing subject to tenant rights on the 2008 crops. Closing will be at the Carroll Title Service or Tippecanoe Title Company.
TAXES: Buyer(s) will pay the 2010 real estate tax and thereafter and any ditch tax in May 2009.
DRAINAGE EASEMENT: Easement access will be provided over tracts on this property for perimeter drain tile outlets, if perimeter drain tile outlets beyond each individual tract are required by Carroll County.
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 Seller's option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.
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 person's 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.