172 Acres Offered in 3 Tracts - Prime Farmland

Payne, OH, Paulding County

Owner: Mike Benschneider, Wm. Benschneider, Sandy Wood Mon, May 24, 2010 EASTERN

AUCTION IS OVER

• Prime Farmland • Level & Well Drained • Productive Soils

OPEN HOUSE/INSPECTION DATES

Monday, May 10,2010 05:00 PM thru 07:00 PM

PROPERTY LOCATION

Located between Payne, OH and Woodburn, IN in Paulding County, Harrison Twp, Sections 29 and 30. From State Line Road, Take C-106 East 1 mile to C-11, turn south and go to property (Tract 1). From Tract 1, Go east on T-96 1/2 mile to Tracts 2 and 3.

AUCTION LOCATION

Parish Hall / Gym of St John the Baptist Catholic Church in Payne, OH at 120 Arturus Street, just south of SR613 and west of SR49.

PROPERTY DESCRIPTION

ANNUAL TAXES: Tract 1 - $884.26, Tracts 2 & 3 combined - $904.16.

TRACT DESCRIPTIONS

Tract 1: 80± ac of productive tillable farmland. This tract has outlets out to the open ditches adjacent to the east and to the south of this tract. This tract is level and is completely Hoytville soils. There is a small utility building on the corner of this property.

Tract 2: 52± ac of productive tillable farmland. This tract is level and well drained. It runs north / south from T-96 to T-94 (Smiley Road). All Hoytville soils.

Tract 3: 40± ac of productive tillable farmland. It has frontage along T-96 and is bisected by the open ditch. All Hoytville soils. There is a small patch of woods and a well from an old farm site on this tract. The neighbor across the road will retain access to the well via an easement.

AREA MAP

TRACT MAP(S)

Tract map - 172 Acres Offered in 3 Tracts - Prime Farmland

PLAT MAP(S)

Plat map - 172 Acres Offered in 3 Tracts - Prime Farmland

PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts, and as a total 172 acres. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.

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 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. Seller reserves the right to reject any and all bids.

EVIDENCE OF TITLE: If the Buyer(s) elect to have the title commitment executed, the cost will be the responsibility of the Buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters.

DEED: Seller shall provide Warranty Deed(s). Real Estate sold subject to all rights of way, legal highways, leases, and easements of public record.

CLOSING: The balance of the purchase price is due at closing, which will take place by July 1, 2010, or as soon thereafter as Seller's closing documents are available. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession subject to tenants rights to harvest 2010 crops. Buyer(s) shall receive Owner share of 2010 crop.

REAL ESTATE TAXES: Real Estate Taxes will be pro-rated to the day of closing. If Ohio land usage is changed, the Buyer(s) is responsible for CAUV Recoupment.

DRAINAGE ASSESSMENTS: Buyer(s) shall pay all drainage assessments and/or taxes due after closing.

ACREAGE: All tract acreage, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where the tract divisions in this auction create new boundaries. Solely the Seller shall determine any need for a new survey. 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.

PROPERTY INSPECTION: Each potential Bidder is responsible to conduct, at their own risk, their own independent inspection, investigations, inquiries, and due diligence concerning the property. Inspection date has been scheduled and will be staffed with auction personnel. Please feel free to inspect the land at any other time at your own risk. Please respect the growing crops on the property.

AGENCY: Schrader Real Estate & Auction Co. 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 "AS IS, WHERE IS" basis, and no warranty or representation, either express, 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 conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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.