Tuesday, April 14,2009 04:00 PM  thru  06:00 PM
Wednesday, April 29,2009 04:00 PM  thru  06:00 PM

From the intersection of SR 3 and Baseline Rd, 1 mile south of Avilla, travel west on Baseline Rd 2 miles to the property -or- From the intersection of SR 9 and Baseline Rd, 3 miles south of Albion, travel east on Baseline Rd 8 miles to the property.

At the Log Cabin Building at the Noble Co. Fairgrounds on the east side of Kendallville on St. Rd. 6.

Tract 1: 20+/- acres gently rolling potential building site with approximately 9 acres of woods and the balance tillable. This tract has 515+/- feet of frontage on Baseline Road. Consider the possibilities!
Tract 2: 85+/- acres of mainly flat, very productive tillable. Soil types include Pewamo, Blount, and Morley. Approximately 55 acres tillable. This tract includes the full width of the drive as shown on the aerial map and 150+/- feet of frontage on Baseline Road.
Tract 3: 18+/- acres "swing tract". A beautiful tract with approximately 6 acres of woods and 12+/- acres tillable. Visit the property and imagine your dream home set behind the trees! Only an adjoining land owner can bid on this tract without combining it with other tracts providing road frontage.
Tract 4: 59+/- acres gently rolling land with approximately 35 acres tillable and the balance in woods. Soil types include Pewamo, Blount, and Morley. Access to this tract is via the 30' owned strip of land out to Baseline Road, or consider combining with Tract 2 for 90+/- prime tillable acres!
Tract 5: 13+/- acres including the 70' x 100' steel building with two large 16' x 16' automatic overhead doors and 18' eaves. There is also a large gravel parking area surrounding the building. Great for storage or a rural business. Approximately 180' of frontage on Hopewell Road. There is an easement in place over the drive to the home. This tract must be bid on individually and cannot be combined.
Tract 6: 41+/- acres of rolling mostly tillable land. Consider the farming potential on 35+/- tillable acres or future use as a partial wildlife habitat. With the water and landscape come see what this tract has to offer. Approximately 190 feet of frontage on Hopewell Road.

PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts, and as a total unit. There will be open bidding on tracts, tract combinations and the total property (other than tract 5 and subject to "swing" tract limitations) during the auction as determined by the Auctioneer. Bids on individual tracts, combinations and the total property may compete.
DOWN PAYMENT: 10% down payment on the day of auction. Immediate possession for farming purposes is available with a 20% down payment on the day of the 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: Seller shall provide an owner's 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 of the bare ground will be at closing. Immediate possession for farming purposes is available with an additional 10% down payment day of auction. Possion of Tract 5 will be 60 days after closing.
REAL ESTATE TAXES: Seller to pay 2008 real estate taxes due in 2009. Buyer to 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 Bidder's 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 Seller's 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 on all tracts and combinations of tracts not including Tract 5.
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.