Saturday, October 31,2009 09:00 AM  thru  11:00 AM

From the intersection of SR 9 and HWY 33, at Merriam, travel north on SR 9 approx. 4 miles to the property on the west side of the road -or- From the intersection of SR 9 and SR 8, downtown Albion, travel south on SR 9 for 3 miles to the property.

At Green Center Community Building. From the intersection of SR 9 and HWY 33 at Merriam, travel north on SR 9 approx. 1 mile to CR 300S. Turn east on CR 300S and travel 3 miles to Green Center Community Building on the south side of the road.

Tracts 1 - 4 have shared access off of SR 9. Each tract has an approved building site overlooking the water.
TRACT 1: 4.01 Acres with approximately 326' of lake front.
TRACT 2: 5.16 Acres with approximately 475' of lake front.
TRACT 3: 5.16 Acres with approximately 413' of lake front.
TRACT 4: 5.20 Acres with approximately 857' of lake front.
TRACT 5: 4.67 Acres with approximately 3 acres land including a small island. Approvals are in place to construct a drive to the island. Access to the tract is off of CR 50W. Central Noble Schools.

PROCEDURE: The property will be offered in 5 individual tracts, any combination of tracts, and as a total 24-acre unit. There will be open bidding on tracts, tract combinations, 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: 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 will be at closing.
REAL ESTATE TAXES: Taxes will be prorated to the date of final closing.
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 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 tracts in this auction have been surveyed and recorded. No additional survey work is anticipated.
COVENANTS & RESTRICTIONS: Call the Auction Company for a copy of the recorded covenants and restrictions.
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.