AUCTION IS OVER

• Tract 1 - 18 Acres, Recreational Land • Tract 2 - 3 Bedroom Country Home • Tract 3 - Historic Home/Office • Tract 4 - 1 Bedroom Apartment • Tract 5 - Commercial Building

OPEN HOUSE/INSPECTION DATES

Thursday, September 15, 4-6PM (House and land on Tracts 1 & 2 only).
Call for private inspection of Tracts 3-5.

PROPERTY LOCATION

TRACTS 1 & 2:
3100 N 350 W, Albion
From the intersection of SR 8 and SR 9, at the southeast corner of the square in Albion, travel west on Main Street/CR 300 N 2 miles to the intersection with Long Lake Road. Keep right at the turn and continue on CR 330 N 1-1/2 miles to the intersection with CR 350W. Turn south (left) on CR 350W and travel 1/2 mile to the property.

TRACTS 3 & 4:
118 West Main Street, Albion
Located on the south side of the courthouse square in Albion at the intersection of Main and York Streets.

TRACT 5:
306 South Orange Street, Albion.
From the intersection of SR 8 and SR 9, at the southeast corner of the square in Albion, travel south on SR 9 3 blocks to the property at the corner of SR 9 and Washington Street.

AUCTION LOCATION

At the Asbury United Methodist Church meeting room.
605 East Main, Albion
Located 5 blocks east of the square in Albion on Main Street, just east of the Albion Elementary School parking lot.

TRACT DESCRIPTIONS

Tract 1: 19± ac Partially wooded recreational ground with approximately 150 ft. of frontage on CR 350W. Great hunting near the Elkhart River. Approximately 6 acres has been previously tilled. Recreation or Agriculture Only.

Tract 2: 3± ac With the 3-bedroom, 3200 sq. ft. home. 2-car attached garage plus detached garage. Full, finished basement with separate entry. Beautiful country setting!

Tract 3: 0.1± ac Historic 2600 sq. ft. home previously used as medical office/apartment. Includes old indoor pool and pool house/garage building behind. This property is zoned CB -- Central Business.

Tract 4: 0.1± ac 960 sq. ft. 1 bedroom apartment. On street parking. Potential income property.

Tract 5: 0.1± ac Great commercial location on SR 9 currently used as a Chinese Restaurant. Large asphalt parking lot. 6,270 average daily car volume. Consider the possibilities!

AREA MAP

TRACT MAP(S)

Tract map - 22+ Acres Commercial and Residential Offered in 5 Tracts

AREA MAP(S)

Area map - 22+ Acres Commercial and Residential Offered in 5 Tracts

PROCEDURE: The property will be offered in 5 individual tracts. There will be open bidding on tracts, tract combinations and the total property during the auction as determined by the Auctioneer. Bids on individual tracts, combinations 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, cashiers 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, and are subject to court approval.

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

DEED: Seller shall provide Trustee 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 to be prorated 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 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 Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. 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 Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, 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 persons 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.