Thursday, October 08,2009 04:00 PM  thru  06:00 PM

From the intersection of US 24 and CR 900 N (Vine St.) in Roanoke, travel west on CR 900 N 4 miles to Meridian Rd. Turn south on Meridian Rd. and travel 1/4 mile to the property on the west side of the road.

At Roanoke American Legion Post 160, 1122 N. Main St., Roanoke.

TRACT 1: 14.6+/- acres productive tillable land. Blount and Pewamo soils. Imagine your home here and enjoy the country living. Approximately 35' of road frontage.
TRACT 2: 12.4+/- acres productive tillable land. Consider building here or combine with Tract 1 for a productive income producing field! Approximately 300' of road frontage.

PROCEDURE: The property will be offered in 2 individual tracts and as a total 27-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 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, 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: Tract divisions in this auction are based on survey work completed by Anderson Surveying in October 1999 and approved by Huntington County Planning. The Auction Company does not anticipate any further survey work to be necessary.
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.