AUCTION IS OVER

• Great Woods for Hunting • Lake Cottage on Long Lake • Turn-Key Sawmill Operation • Minutes from Lake Huron • 24+/- Miles Southeast of Rogers city • 60+/- Miles East of Gaylord • 125+/- Miles North of Bay City/Saginaw • Equipment to be sold 10 am Saturday, Dec 11 at the Mill on Tract 3

OPEN HOUSE/INSPECTION DATES

Wed., December 1st from 1-3 pm
Fri., December 10th from 10am - Noon
Meet Schrader Representatives at the cottage on Tract 4
and the office/cabin on Tract 3 for additional information.

PROPERTY LOCATION

TRACTS 1 & 2 Property Locations: From the intersection of Hwy 23 and Long Lake Road, 5Ã‚Â± miles north of Alpena, travel northwest on Long Lake Road 0.8 miles to Lacomb Road. Turn west (left) on Lacomb Road and travel 1.5 miles to French Road. Turn south (left) on French Road and travel 1 mile to Naylor Road. Turn east (left) on Naylor Road and travel 0.75 mile to the property. Road ends at the property. GPS Coord: 45 8 52.95 N 83 27 31.15 W TRACT 3 PROPERTY LOCATION: From the intersection of Hwy 23 and Long Lake Road, 5+/- miles north of Alpena, travel northwest on Long Lake Road 0.8 miles to Lacomb Road. Turn west (left) on Lacomb Road and travel 3 miles to the property on the southside of the road. 2510 Lacomb Road. Tracts 4 & 5 PROPERTY LOCATIONS: From the intersection of Hwy 23 and Long Lake Road, 5+/- miles north of Alpena, travel northeast on Hwy 23 5.5 miles to Brooks Hwy. Turn southwest (left) on Brooks and travel 0.5 miles along Brooks then Parallel Ave. to the property on both sides of the road. 14302 Parallel Ave.

AUCTION LOCATION

At the Holiday Inn downtown Alpena. Entrance on the North side. Address: 1000 US 23 North. Phone: 989-356-2151

PROPERTY DESCRIPTION

Beautiful wooded land & great for hunting and recreation, former wood mill site, very nice lake cottage and lots on Long Lake. In the Schrader Method of Auction, you can bid on any tract, combination of tracts or the whole property in the manner that fits your needs. Just minutes from Alpena and all that Northern Michigan and Lake Huron have to offer.

TRACT DESCRIPTIONS

Tract 1: 40± ac recreational land with great interior roads and a mixture of open area young pine and some older growth trees. Some old stone fence lines and places where gravel has been excavated. Access from Naylor Road in southwest corner.

Tract 2: 40± ac recreational land with easement access off of the west end of Naylor Road. Nice stand of trees with several open areas. Great hunting!

Tract 3: 40± ac former location of wood sawmill which includes: 40 ft.x150 ft. sawmill w/ concrete floor and 14 ft.x60 ft. open faced lean to; 40 ft.x75 ft. Planer building with concrete floor and 16 ft.x75 ft. lean to, heat and bathroom; 26 ft.x32 ft. Cedar Cabin office with bathroom; 40 ft.x160 ft. shop/storage building with concrete floor. Blacktop driveways throughout the site. (2) Dry Kilns. A great opportunity for continued sawmill use or alternative! Stationary mill equipment will potentially be offered in package to the Buyer immediately following the real estate auction, otherwise will be sold at equipment sale. Call Auction Company for Details.

Tract 4: 0.2± ac Well kept 2 bedroom cottage on Long Lake. 50 ft. of lake front. Lot measures 50 ft.x150 ft.x62 ft.x150 ft.. Great views across the lake from vaulted living room. Cedar interior, blacktop parking. Imagine bringing the family here!

Tract 5: 0.7± ac 2 lots across Parallel Ave. from the cottage. Nice parking now or future storage building potential. Consider bidding on the lots or combine with Tract 4. This tract has 15 ft. of easement access to the lake.

AREA MAP

TRACT MAP(S)

Tract map - 120+/- Acres & Lake Cottage, Lots & Former Wood Saw Mill

AREA MAP(S)

Area map - 120+/- Acres & Lake Cottage, Lots & Former Wood Saw Mill

PROCEDURE: The property will be offered in 5 individual tracts, combinations of tracts and as a total unit. There will be open bidding on tracts, combinations and the total during the auction as determined by the Auctioneer. Bids on individual tracts, tract combinations and the total property may compete.

DOWN PAYMENT: 10% down payment on the day of the auction. The down payment may be made in the form of 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: Real estate taxes shall be pro-rated to the date of 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 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: The Seller does not anticipate the need for a new survey and will only do so if required to insure title. 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. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres on Tracts 1 & 2 only, 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 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.