Tuesday, October 06,2009 04:00 PM  thru  06:00 PM

From the intersection of SR 14 and I-69, on the west side of Fort Wayne, travel west on SR 14 8 1/2 miles to CR 500 E. Turn south on CR 500 E and travel 3/4 mile to the property on the west side of the road -OR- From the intersection of SR 14 and SR 9, 6 miles south of Columbia City, travel east on SR 14 4 miles to CR 500 E. Turn south on CR 500 E and travel 3/4 mile to the property.

At Laud Christian Church at the corner of Taylor St. and Grace Ave. in Laud. From the intersection of SR 14 and SR 9, south of Columbia City, travel east on SR 14 2 miles to CR 200 E. Turn south on CR 200 E and travel 2 miles to Laud. Continue to the second street (Taylor St.). Turn east on Taylor St., and the church is on the north side of the road.

Beautiful country setting with a great location close to Fort Wayne. In the Schrader Method of Auction, you can bid on a tract or the whole property in the manner that fits your needs. Just seconds from SR 14 - just a short drive to Columbia City, Huntington, or Fort Wayne.
TRACT 1: 10+/- acres of all tillable, gently rolling land. The woods to the west provides a great backdrop for your dream home. Approximately 585 ft. of road frontage on CR 500 E.
TRACT 2: 12+/- acres of all tillable land. Great for building or investment. Approximately 320 ft. of frontage on CR 500 E.

PROCEDURE: The property will be offered in 2 individual tracts and as a total 22-acre unit. There will be open bidding on tracts and the total during the auction as determined by the Auctioneer. Bids on individual tracts 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 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 Sellers.
POSSESSION: Possession will be at closing subject to farm tenant's rights to harvest the 2009 growing crop.
REAL ESTATE TAXES: Buyer will assume taxes due May 2011 and 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, Sellers disclaim any and all responsibility for Bidders 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 Sellers 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 Sellers. 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.
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 Sellers 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers 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.