• Property photo 1 - 137 Acres in 2 Tracts - 64 Tillable Acres, Potential Building Sites, Hunting
  • Property photo 2 - 137 Acres in 2 Tracts - 64 Tillable Acres, Potential Building Sites, Hunting
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137 Acres in 2 Tracts - 64 Tillable Acres, Potential Building Sites, Hunting

137 Acres in 2 Tracts - 64 Tillable Acres, Potential Building Sites, Hunting

Between Bloomington and Bedford

Owner: Kenneth D. Martin & Kenneth D. Martin II Fri, May 21, 2010 EASTERN

AUCTION IS OVER

• 64+/- Tillable Acres • Farmland w/Pasture • 2 Ponds & Buildings • Potential Building Sites • Electric & City Water • Hunting & Recreation


OPEN HOUSE/INSPECTION DATES

Wednesday, April 28,2010 05:00 PM thru 07:00 PM
Saturday, May 08,2010 10:00 AM thru 12:00 PM

PROPERTY LOCATION

From Bloomington: SR37 South of Bloomington approx. 14 miles to Jct. SR37 & Old SR37. Go left (south) on Old SR37 approx. 3.1 miles to the farm. From Bedford: SR37 North of Bedford approx. 5 miles to Trogden Rd. Turn east and go 1.25 miles through Needmore to Old SR37, then north approx. .3 miles to the farm.

AUCTION LOCATION

Comfort Inn, Bedford, IN (Formerly Stonehenge) - SR37 & John Williams Blvd.

TRACT DESCRIPTIONS

Tract 1: 101± ac 101+/- acres with 64+/- tillable acres. Also featured are 35 acres of rolling pasture, 2 ponds, and farm buildings including: open faced tool shed, a barn, 2 grain bins, and a machine storage shed.

Tract 2: 36± ac 36+/- acres. EXPLORE THE POSSIBILITIES - This partially wooded, rolling pasture land offers several potential building sites bounded by Gullet Creek to the south. Electricity and H20 lines run easterly into the Tract, and there are two hydrants near the east side. This tract has been leased for hunting, but is not currently leased for 2010


AREA MAP

Satellite area map of the auction location near Between Bloomington and Bedford

TRACT MAP(S)

Tract map - 137 Acres in 2 Tracts - 64 Tillable Acres, Potential Building Sites, Hunting

SOIL INFORMATION

Soil map - 137 Acres in 2 Tracts - 64 Tillable Acres, Potential Building Sites, Hunting

PLAT MAP(S)

Plat map - 137 Acres in 2 Tracts - 64 Tillable Acres, Potential Building Sites, Hunting

PROCEDURE: This property will be offered in 2 individual tracts or as a whole 137± acre property. The property will be sold in the manner resulting in the highest total sale price.

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.

DOWN PAYMENT: 10% down payment on the day of auction with the balance in cash at closing. The down payment may be made in the form of cash, cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDIDIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

CLOSING: The balance of the purchase price is due at closing, which shall take place within 14 days from delivery of marketable title. Closing the end of June 2010 is anticipated depending on survey requirements. Closing costs for an administered closing shall be shared 50:50 between Buyer(s) and Sellers.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

POSSESSION: Possession shall be at closing. The Buyer shall reimburse the Seller at closing for the expenses to date of putting out the 2010 crop. The Buyer shall then own the 2010 crop.

REAL ESTATE TAXES: Taxes shall be prorated to the date of Closing. Buyer shall assume any Ditch Assessments due in 2010 and thereafter.

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on aerial photos and the current legal description.

FSA INFORMATION: The farm is enrolled at the Lawrence County FSA office in Bedford, IN., which shall make all acreage determinations and eligibility for farming programs.

EASEMENTS: Sale of the property is subject to any and all easements of record.

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller, if any.

SURVEY: A new survey shall be provided. The cost of the survey will be split 50:50 between Buyer(s) and Sellers. The type of survey performed shall be at the Seller's option sufficient for providing title insurance.

AGENCY: Schrader Real Estate and 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 conduction 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 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. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PROVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE.

None at this time