Saturday, September 26,2009 09:00 AM  thru  12:00 PM
Saturday, October 10,2009 09:00 AM  thru  12:00 PM

2175 E. Kelley Road, Frankfort, IN 46041. From the intersection of S.R. 28 and Maish Road travel South 1 mile to Kelley road (CR 150 S.). Turn left (East) on Kelley road, property is the first home on the Southside.

Real Estate Auction Location: Neighborhood Center located at 259 S. 3rd St. in Frankfort.
Farm Equip. and Personal Property Auction Location: On Site at 2175 E. Kelley Road.

REAL ESTATE AUCTION AT 6 PM
Tract 1: 6+/- Acres of all tillable cropland. This tract features primarily fincastle soil and has approx. 400 feet of road frontage on Kelley Road (CR 150 S.)
Tract 2: 9+/- Acres with approx. 3.5 acres tillable and approx. 270 feet of road frontage. This tract was formerly used as Prairie Stream Farms Seed processing plant. The seed processing building is a 40'X80' steel frame construction. A 75'X80' warehouse is attached to the seed processing building and has a 14'X14' overhead door and a 8'X8' truck dock. This tract also includes approx. 49,000 bushel grain storage. This tract also includes 5 other buildings that could be used for storing equipment as well as livestock. This tract offers many possibilities.
Tract 3: 3.5+/- Acres with a 3 bedroom farmhouse on a partial basement. The outbuildings on this tract were formerly used for selling produce. This building has several rooms and includes a 14'X34' walk-in cooler.
Tract 4: 30' x 100' Hoop Greenhouse with heaters.

EQUIPMENT AUCTION TO BE HELD ON SITE AT 1 PM

1984 IH 84 Hydro Tractor w/ IH 2250 loader, 16.9-30 Tires, 3 pt., 540 pto, shows 4,572 hrs., Serial # 265157BRX

7' IH sickle bar mower

(4) portable crop dryers, nat. gas

50' + Kewanna 8" Auger

Super B 47 Grain Cleaner

King Kutter cultivator, 3 pt.

300 gal. fuel tank w/elec. Pump

Seed Cleaners

Corn Graders

Work benches

Seed cleaning screens

Skid Steer Trailer, no title

Pallet Jack

Bulk seed sacks

New Idea Corn Sheller

Dayton Generator

12' Flat bed wagon

Commercial Fridgerators

Wooden displays for retail store

Metal racks

Metal carts

360 Cinder Blocks

114 wooden skids

Plastic Tubs

File cabinets

Flower flats

Bushel Baskets

Steel desks

Numerous items from prior business not listed.

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 18.5 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 for individual tracts or combinations of tracts. 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 proper deed.
CLOSING: The balance of the purchase price is due at closing, which will occur with 15 days of marketable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.
POSSESSION: Possession is at closing subject to tenant rights on the 2009 crops.
REAL ESTATE TAXES: Buyer(s) will pay the 2010 real estate and ditch taxes.
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.