• Minutes from Both Huntington and Wabash • Farm #1: 143 Acres • Farm #2: 98 Acres • Farm #3: 216 Acres • Farm #4: 92 Acres • Farm #5: 237 Acres • Farm #6: 189 Acres
Important Indiana Land Auction, 975 Acres in 6 Tracts! Attention Farmers & Investors. 908 Acres of High Quality Tillable Farmland
Huntington & Wabash Counties, Indiana
Owner: Schenkel Acres Tue, Nov 9, 2010 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Monday, October 11 at 4pm - 6pm
Saturday, October 23 at 10am - Noon
Monday, November 1 at 4pm - 6pm
Schrader Representatives will be available at the Bippus Lions Club to answer questions and
provide more information about each farm.
Directions to Bippus Lions Club: From the intersection of SR 105 & 800 N in Bippus, go east on 800 N 1/10 mile to 886 W, then south to the Lions Club building on the east side of the street.
PROPERTY LOCATION
Tract 1: From the intersection of U.S. Highway 24 and State Road 13 in Wabash, go north on State Road 13 for 2-1/2 miles to CR 300 N., turn Right (east) on CR 300 N., then go 1-1/2 miles. Farm #1 is located on south side of CR 300 N.
Tract 2: From the intersection of U.S. Highway 24 and State Road 13 in Wabash, go north on State Road 13 for 3-1/2 miles to CR 400 N., turn right (east) on CR 400 N., then go 3-1/2 miles to Farm #2 on south side of road.
Tract 3: From the intersection of U.S. Highway 24 and State Road 13 in Wabash, go North on State Road 13 for 4-1/2 miles to Urbana, turn right (east) on CR 500 N., then go 3-1/2 miles to Farm #3 located on north side of road.
Tract 4: From Lagro, go east on State Road 24 for approximately 2-1/2 miles to Rock Spring Road, turn left (north) on Rock Spring Road, then go approximately 1 mile and Rock Spring Road turns into 650 E. The intersection of CR 650 E. and CR 250 N. is the southwest corner of Farm #4.
Tract 5: From Bippus, go south on State Road 105 for 1 mile to CR 700 N., turn right (west) on CR 700 N., then go 1/4 mile to Farm #5 on north side.
Tract 6: From intersection of State Road 105 and CR 800 N. at Bippus, go east on CR 800 N. for 1-3/4 mile to northwest corner of Farm #6 on south side of road.
AUCTION LOCATION
Wabash County REMC Building.
350 Wedcor Ave. Wabash, IN 46992
From the intersection of US 24 and SR 15, travel north on SR 15 1/4 mile to Wedcore Ave. then west 3/4 mile to the auction site.
TRACT DESCRIPTIONS
Tract 1: 142.7± ac with 138.4 acres of productive tillable farm land featuring Pewamo, Pella, and Blount soils. The aerial photography indicates this farm has been systematically tiled. This is a well drained farm capable of producing excellent corn and soybean yields.
Tract 2: 97.6± ac with approximately 85.5 acres of productive tillable farm land and approximately 10 acres of woodland featuring mixed hardwood trees. Pewamo silty clay loam and Blount silt loam comprise 95% of the soils on this farm. Both are very productive soils. Nearly level fields with easy access from two CRs make this property a great investment.
Tract 3: 216.5± ac with 187.1 acres of productive tillable land plus approximately 29 acres of mixed hardwood trees. This farm is easily accessed by two CRs. Conservation practices have been a high priority on this farm evidenced by the well maintained grass waterways. These conservation practices have greatly preserved the soil quality by reducing soil erosion. The two predominate soil types on this farm are Blount silt loam and Pewamo silty clay loam. This tract includes a 45’ x 75’ shed and two small grain bins.
Tract 4: 92.3± ac with 84.9 acres of productive tillable land and approximately 5 acres of woodland. This is a well drained nearly level farm with excellent yield potential. The two predominate soils on this farm are Pewamo silty clay loam and Blount silt loam. The approximately 5 acres of mixed hardwood timber is located in the Northeast corner of the farm. This tract includes a 30’ x 100’ slatted floor hog building.
Tract 5: 236.9± ac with approximately 225.1 acres of productive tillable land and approximately 9 acres of woodland. The three major soil types on this farm are Blount silt loam, Pewamo silty clay loam, and Patton silty clay loam with Pewamo and Patton soils bringing two of the highest yielding soils in Huntington County. This farm also has easy access from two CRs located on the south and west boundary lines of the property.
Tract 6: 189.3± ac of mostly productive tillable farm land (192.8 tillable acres per FSA). Pewamo silty clay loam and Blount silt loam total approximately 92% of the soils on this farm. This farm has an excellent interior farm road system for easy ingress and egress for planting and crop harvest. This is a well maintained farm, easily farmed with large equipment and includes a 42’ x 80’ shed and small grain bin.
AREA MAP
TRACT MAP(S)
Tract 6
Tract 5
Tract 4
Tract 3
Tract 2
Tract 1
AREA MAP(S)
PROCEDURE: The property will be offered in individual tracts, or any combination of tracts using the M3 method of auction, based on a total of six tracts. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price, subject to the Sellers acceptance or rejection.
FINANCING: Bidding is not conditional upon financing.
Earnest Funds and Payment: 10% down payment on the day of the sale with the balance in cash or equivalent at closing. Down payment to be acknowledged by Seller and Buyer as minimal liquidated damages actually sustained and not a penalty provision, should buyer fail to close as obligated under the sale/purchase contract.
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.
CLOSING: Closing will be on a date between December 26, 2010 and January 8, 2011 and at a time as designated by Seller. That designation to be made no later than December 13, 2010. Closing will be administered by the real estate department of the Huntington office of Delaney Hartburg Roth & Garrot or at such other site as is agreed by Seller and Buyer. The fee for administering closing shall be shared 50:50 between buyer and seller.
POSSESSION: Possession of the property shall be given on date of closing, subject to the sellers right to diligently complete the removal of any remaining growing crops from the 2010 crop year, which crops remain as of closing because of unusual weather conditions. That removal to be accomplished in all events not later than February 18, 2011.
TAXES: Real Estate taxes and assessments for the 2010 calendar year shall be the responsibility of the Seller. Buyer(s) to assume all real estate taxes and assessments thereafter.
TITLE: The seller will be conveying property by Warranty Deed.
TITLE INSURANCE: Preliminary title insurance policies will be made available to buyers 30 days prior to the auction. Seller to provide title insurance through National Attorneys Title Assurance Fund in the amount of the purchase price, providing insurable title to the Buyer except as expressly provided in the contract documents. Also, that insurance to be subject to the Schedule B exceptions in accordance with the June 17, 2006 version of the standards of the American Land Title Association. If a mortgage policy is contemporaneously issued for the Buyer’s benefit by the title company issuing the owners policy, the total premium for both owners and mortgagees policies shall be paid equally by Buyer and Seller.
SURVEY: No current survey of any tract to be provided by Seller. All descriptions will be based on current legal descriptions.
PROPERTY CONDITION: The property is being sold in an AS IS WHERE IS condition with no warranties as to physical condition or available building permits.
CONTRACT DOCUMENTS: Contract documents to be available for examination by potential buyers at least five (5) business days in advance of the auction date.
PROPERTY INSPECTION: Each potential Bidder is responsible to conduct, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have 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.
EASEMENTS: Subject to any and all existing easements.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
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.
Owner: Schenkel Acres, Inc.
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