Michigan Tree Farm - 2,174 acres in 53 Real Estate Tracts and 25 Tree Tracts

Properties near Hart, Shelby, Pentwater & Scottville

Owner: Slocum Brothers Tree Farm Sat, Aug 21, 2010 EASTERN

AUCTION IS OVER

• Includes Land Held by Slocum Family for Over a Century • 890,000+/- Trees Including 260,000+/- Trees Offered Separately • Many Tracts Located Within Manistee National Forest • Within a Short Drive to Lake Michigan Shoreline • Potential Building Sites • Virgin Asparagus Ground • Hunter's Delight - Recreational Ground • Many Tracts Grew Fruit Prior to 1985


OPEN HOUSE/INSPECTION DATES

Information Days:
Thursday, August 5th from 3PM - 6PM.
Tuesday, August 10th from 3PM - 6PM.
Friday, August 20th from 3PM - 6PM.

Meet a Schrader Representative at the Shelby State Bank Branch in Hart, Michigan for additional information.

Directions to Information Day: 811 S State Street, Hart, MI. From the intersection of Hwy 31 and Polk Road (Exit 149) near Hart, MI, travel east on Polk Road 1-1/2 mile to State Street. Turn north (left) on State Street and travel 1/2 mile to the bank on the west (left) side of the road. Turn left just past the bank and park in the rear.

Financing
Your bidding is not subject to financing so please have your arrangements made prior to the sale. Financing is available through GreenStone Farm Credit Services. For pre-qualification or additional questions, contact Henry Hoekstra or Jeana Carlson in the GreenStone Hart office at 231-873-7102.

AUCTION LOCATION

Shelby High School, 641 North State Street, Shelby, MI. From the intersection of Hwy 31 and Shelby Road (Exit 144) near Shelby, MI, travel east on Shelby Road 1-1/4 mile to State Street. Turn north (left) and travel 3/4 mile to entrance to Shelby High School on the west (left) side of the road.

TRACT DESCRIPTIONS

Tract 1: 37± ac Potential building site or fruit crop on this tract with frontage on 136th Ave. and Taylor Rd.

Tract 2: 40± ac Prime fruit crop land with front- age on Taylor Rd. Small stand of maple & beech trees.

Tract 3: 80± ac Nice mixture of tillable and 30± acres of woods (primarily maple) to the north. Front- age on Taylor Rd. 6,000± Fraser Fir planted in 2009 with some older Norway Spruce and Fraser Fir. Prime fruit crop land.

Tract 4: 33± ac Potential building site with front- age on Taylor Rd. and 144th Ave. Prime fruit crop land.

Tract 5: 20± ac Gently rolling land with Spinks soils. Consider future tree harvest or the asparagus/fruit crop potential. Frontage on Hazel Road. Approximately 26,000 Fraser Fir planted in 2006.

Tract 6: 22± ac Mostly level land with frontage on 136th Ave. Approximately 12,000 Douglas and Fraser Fir planted in 2002.

Tract 7: 3± ac Uninhabited 1,934 sq. ft. home and 32’ x 60’ barn. Consider the potential!

Tract 8: 25± ac Mostly level productive land with Benona and Spinks soils. Fruit potential. Front- age on 136th Ave. Approximately 12,000 Fraser Fir planted in 2004 and 14,000 Fraser Fir planted in 2007.

Tract 9: 20± ac Frontage on 136th Ave. 13,000 Scotch Pine planted in 2004 and smaller plant- ings of Blue Spruce (2004) and Douglas Fir (2008). Potential home site.

Tract 10: 20± ac Frontage on hard surface Taylor Road and 128th Ave. Potential building site.

Tract 11: 40± ac Frontage on hard surface Taylor Road. Potential building site.

Tract 12: 40± ac Rolling land with 1/4 mile road frontage on Polk Rd. Po- tential fruit land. 12± acres of Hardwood timber primarily Maple. Douglas Fir and Fraser Fir planted in 2006/07 on the west side of the tract.

Tract 13: 38± ac This gently rolling land has frontage on hard surface Polk Rd. and 122nd Ave. Potential building site. 36,000± Douglas Fir planted in 2008.

Tract 14: 40± ac This tract has approximately 25 acres of recreational ground and the balance in potential plantings. Great Hunting! Seasonal access. This tract has approximately 11,000 Fraser Fir planted in 2005 and 2008.

Tract 15: 40± ac Secluded recreational land with primarily overgrown Douglas Fir. Very roll- ing topography and very high elevations provides beautiful views and a haven for deer and wildlife. Potential for gravel excavation.

Tract 16: 50± ac Rolling land with road frontage on hard-surface 144th Ave. and Warren Road. Consider this tract for its recreational value or secluded potential home site. This tract has a well and old mobile home. Recreational value along stream on the northeast side.

Tract 17: 30± ac Frontage on Warren Road with 21,000± Douglas Fir and Blue Spruce planted in 2003/04. Wonderful views to the east from this elevated tract.

Tract 18: 40± ac Mostly level land with Benona soils. Adjoins Manistee National Forest. Seasonal access. Approximately 39,000 Blue Spruce planted in 2006. 8± Acres of predominately Oak hardwood timber.

Tract 19: 40± ac Rolling tract with 12,600± Douglas Fir trees planted in 1997. Road frontage on hard surface 148th Ave. and seasonal access from 144th Ave. Possible asparagus ground to the east or fruit ground to the west. Potential building site with views of a small lake to the north and a small stream that runs through the center of the property.

Tract 20: 100± ac Rolling terrain with great recreational and hunting on this tract. Beautiful creek along the east side of the property. Adjoining Man- istee National Forest. Seasonal access. Leased trees on Tract 20 (77 Ac.) shall pay $30/Ac. through 2014.

Tract 21: 39± ac Mostly tillable land with Grattan and Berona soils. Road frontage on 204th Ave.

Tract 22: 20± ac Gently rolling land fronting on Polk Road. Mostly Berona and Spinks soils.

Tract 23: 40± ac Approximately 28 Acres tillable and Scotch Pine and Fraser Fir both planted in 2009. Road frontage on Van Buren Road.

Tract 24: 40± ac Approximately 28 Acres tillable and Scotch Pine and Fraser Fir both planted in 2009. Road frontage on Van Buren Road.168th Ave. and Van Buren.

Tract 25: 80± ac Mostly tillable land with Benona soils and access from Rossel Lake Rd. Approximately 79,000 Fraser Fir and 2,000± Balsam Fir both planted in 2008.

Tract 26: 40± ac Good elevation for frost free crops. Consider the fruit site potential. Frontage on hard surface 144th Ave. Approximately 13,000 Douglas Fir planted in 2006 and approximately 20,000 Douglas Fir, 9,500± Fraser Fir, and 6000± Blue Spruce all planted in 2008.

Tract 27: 42± ac Rolling land with excellent wildlife habitat and potential hunting/ recreation! Cropland Potential. Road frontage on 3 sides. Approximately 4,600 Douglas Fir, 13,000 Fraser Fir and 1,800 Blue Spruce planted in 2003.

Tract 28: 27± ac Productive tillable land with frontage on Winter Rd. and hard surface 144th Ave. Believed to be the highest point in Oceana County. 29,000± Douglas Fir planted in 2009.

Tract 29: 100± ac Mostly level tillable ground with frontage on 88th Ave. and Madi- son Rd. Very suitable for asparagus, vegeta- bles or row crops. Potential for a central pivot location.

Tract 30: 31± ac Very rolling land with overgrown Douglas Fir. Consider the camping, hunting and recreation on this property. Great elevated views for a potential building site. Potential for gravel excavation.

Tract 31: 25± ac Rolling land with Marlette soils. Road frontage on hardsur- face Custer Road. Future potential building site. Deer fencing surrounds the property. Approximately 28,000 Fraser Fir planted in 2004.

Tract 32: 39± ac Rolling terrain with frontage on Maple Island Road and 4 Mile Road.

Tract 33: 60± ac Rolling terrain with frontage on 4 Mile Road.

Tract 34: 34± ac Gently rolling land near Shelby. Primarily Benona soil with great potential for fruit planting! Front- age on Shelby Road. Approximately 6,500 Fraser Fir planted in 2006 and ap- proximately 26,000 Douglas Fir planted in 2006/2007.

Tract 35: 10± ac Great elevation and views with seasonal access over neighbor. Potential fruit ground.

Tract 36: 20± ac Gently rolling land with frontage on Hazel Rd and 144th Ave.

Tract 37: 20± ac including a small home and several outbuildings. Wooded tract with mature White Pine and frontage on 144th Ave.

Tract 38: 40± ac slightly rolling recreational tract with view of small lake to the east. Nice older barn along frontage on 144th Ave.

Tract 39: 12± ac Potential building site across Arthur Rd. from Grandview Golf Course. Potential fruit ground.

Tract 40: 40± ac All tillable land with 30,000± Scotch Pine planted in 2008/2009. Road frontage on both 168th Ave. and Van Buren Rd. Virgin asparagus ground.

Tract 41: 41± ac Approximately 22 Acres tillable with 28,000± Scotch Pine planted in 2008. Road frontage on 168th Ave.

Tract 42: 40± ac Gently rolling land with frontage on 136th Ave. and Yale Rd. Approximate- ly 25,000 Scotch Pine planted in 2000.

Tract 43: 40± ac Gently rolling land with frontage on Yale Rd. Approximately 25,000 Scotch Pine planted in 2000.

Tract 44: 78± ac Mostly wooded, rolling land with some overgrown Douglas Fir. Excellent fruit ground or subdivision/building sites. Road frontage on 72nd Ave. Great location close to Shelby. Adjoins the Shelby Industrial Park.

Tract 45: 38± ac Gently rolling land with frontage on hard-surface Green Ave. and Van Buren St. Adjoins Manistee National Forest to the east. Trees on this tract are subject to a lease through 2013.

Tract 46: 60± ac Mostly level land with primarily Plainfield and Coloma soils. Frontage on hard-surface Green Ave. and Van Buren St. Trees on this tract will be harvested by December 1, 2010

Tract 47: 60± ac Gently rolling land with frontage on hardsurface Van Buren St. Adjoins Manistee National Forest to the east. The trees on this tract are subject to a lease through 2015. note: Potential asparagus and corn production with good location for central pivot system.

Tract 48: 76± ac Gently rolling land with Coloma soil. Frontage on hard surface Comstock Ave. Approximately 47,000 Scotch Pine planted in 2007 (north field) and 20,000± Scotch Pine planted in 2008 (south field). Excellent potential for asparagus and corn production.

Tract 49: 35± ac Gently rolling land with frontage on 11 Mile Road near Island Lake. Primarily Coloma soils. Potential asparagus or corn production.

Tract 50: 21± ac Mostly level land with Benona soils. Adjoins Manistee National Forest. Seasonal access. Potential for asparagus.

Tract 51: 45± ac Nice mixture of tillable land (now planted in trees) and recreational ground. Good potential for asparagus production to the north. Great fruit crop potential to the south with higher elevations. Frontage on 166th Ave.

Tract 52: 62± ac Large mostly tillable tract planted to trees. Excellent fruit crop possibilities with high elevations, good air flow and no frost pockets. Frontage on 166th Ave.

Tract 53: 81± ac Partially rolling land with 20 acres of mature cherry, maple and beech. There is a pole barn on the property, underground electricity, and 4” well. Great fruit crop potential to the south and good potential for asparagus production to the north. Your deer camp awaits!


AREA MAP

TRACT MAP(S)

Tree Tracts 204-207

Tracts 16-17

Tracts 10-11

Tracts 35 & 39

Tree Tract 203

Tract 53

Tracts 51-52

Tracts 36-38

Tree Tract 201

Tree Tract 202

Tree Tracts 106-107

Leased Trees on Tract 20

Tree Tracts 101-105

Tree Tract 109

Tree Tract 108

Tract 50

Tract 20

Tract 31

Tracts 1-4

Tract 28

Tract 34

Tracts 45-47

Tracts 42-43

Tracts 23-24 & 40-41

Tree Tracts 111-113 & 208-210

Tract 15

Tract 22

Tract 49

Tracts 12-13

Tree Tract 110

Tree Tracts 114-115

Tract 19

Tract 27

Tract 25

Tract 29

Tract 18

Tract 32-33

Tract 21

Tract 26

Tract 30

Tract 5

Tract 14

Tract 44

Tracts 6-9Tra

Tract 48

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The 53 real estate tracts and 25 leased tree tracts will be offered in individual tracts and in any combination of tracts within the different groups. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts and tract combinations may compete. All bids will be subject to the acceptance or rejection by the owner.

DOWN PAYMENT: 10% of the accepted bid price as down payment on the day of auction with the balance in cash at closing. 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: The successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction.

APPROVAL 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.

DEED: Seller shall provide Warranty Deed(s).

EVIDENCE OF TITLE: The Owner agrees to split 50:50 the expense of an Owner's Policy of Title Insurance in the amount of the purchase price. CLOSING: The closing shall take place 30 days after the auction day, or as soon thereafter as applicable closing documents are completed by Owner. Buyer shall pay the cost of closing. Possession: Possession is at closing subject to tree leases.

REAL ESTATE TAXES: Seller pays summer 2010 real estate taxes and transfer tax. The Buyer will be responsible for winter 2010 real estate taxes and thereafter.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

SURVEY: The Buyer shall be responsible for any survey for any tract where there is no existing legal description. Any need for a new survey shall be determined solely by the Owner. The type of survey performed shall be at the Owner's option and sufficient for providing title insurance.

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

TREE TRACTS: Any buyer who purchases trees without purchasing the underlying land must make settlement in full on those trees and sign a lease immediately following the auction.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled to help in your investigation of the property and will be staffed with auction personnel.

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.

STOCK PHOTOGRAPHY: Some pictures are for illustrative purposes only.

NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.

SELLERS:Slocum Brothers Tree Farm, Gerald Slocum Trust, Theodore Slocum Trust, Steve & Denise Pagura.