Monday, June 08,2009 04:00 PM  thru  06:00 PM

From Vincennes, IN, cross the Memorial Bridge into Westport, IL and go 1/4 mile to IL Route 33. Travel north 6 miles to CR 1300 N and turn east. Go .4 mile to the property.

Russellville Community Center. 4 miles north of the farm on Rt. 33 in Russellville, IL.

235 acres more or less having a level topography, 138.8 cropland acres, and the balance in woods, bordering the Wabash River. The farm offers excellent hunting opportunities and potential timber income in addition to the farm income source. Approximately 85 acres of cropland are levey protected.

PROCEDURE: The property will be offered in 1 individual tract.
DOWN PAYMENT: 10% down payment on the day of auction. The down payment may be made in the form of 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.
ACCEPTANCE OF BID PRICES: The successful bidder will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. The purchase agreement will be available for review prior to the auction. All final bid prices are subject to the Sellers acceptance or rejection in its sole discretion.
EVIDENCE OF TITLE: The Seller shall provide an owners title insurance policy in the amount of the purchase price.
DEED: Seller shall provide proper deed conveying the real estate to the Buyer.
CLOSING: Closing shall take place within 15 days after auction day, or as soon thereafter as applicable closing documents and title insurance are completed. Costs for an insured closing shall be shared 50:50 between Buyer and Seller.
REAL ESTATE TAXES: Seller shall pay the 2008 real estate taxes due and payable in 2009. All future taxes will be paid by the buyer. Estimated real estate taxes are $1,160.00 annually.
POSSESSION: Buyer shall receive ownership immediately upon final closing. Possession is subject to the 2009 farm lease with Louis Vennard.
2009 INCOME: The buyer shall assume the 2009 farm lease and receive the ownershare of farm income in accordance with the 2009 farm lease.
ACREAGE: The real estate will be conveyed by current legal description. The seller shall not provide a survey.
MINERAL RIGHTS: Seller shall convey its entire interest in the property including all mineral rights, if any.
EASEMENTS: Sale of the property is subject to any and all easements of record.
AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.
NEW DATA, CORRECTIONS, AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.
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.