AUCTION IS OVER

• Prime Tillable Land • Wooded Hunting Land with Frontage on Davis Lake • Potential Building Site

OPEN HOUSE/INSPECTION DATES

Tuesday, June 7 from 4-7 PM
Meet a Schrader Representative at the Stone's Trace Historical Society Pavilion. From the intersection of Hwy 33/St. Rd. 5 and Hwy 6 in Ligonier, travel south on Hwy 33/SR 5 for 1.6 miles. Stones Trace is on the southwest corner of the junction of Hwy 33 and SR 5 (at the automatic signal near West Noble School Complex.)

PROPERTY LOCATION

TRACTS 1 & 2: From intersection of Hwy 33/St. Rd. 5 and Hwy 6 in Ligonier, travel south on Hwy 33/SR 5 for 1.6 miles. At automatic signal near West Noble School Complex, turn southwest on SR 5 and travel .8 mile to 450 N. Turn west on CR 450 N. and travel .3 mile to Tract 2 and .4 mile to Tract 1. Watch for signs. TRACTS 3 & 4: From intersection of Hwy 33/St. Rd. 5 and Hwy 6 in Ligonier, travel south on Hwy 33/SR 5 for 1.4 miles. Turn west on CR 550 N. and travel .3 mile and turn northwest on Townline Rd. Travel .1 mile to tract 4 and .3 mile to Tract 3. Watch for signs. TRACT 5: From intersection of Hwy 33/St. Rd. 5 and Hwy 6 in Ligonier, travel south on Hwy 33/SR 5 for 1.4 miles. Turn west on CR 550 N. and travel .6 mile to property. Watch for signs. TRACT 6: From intersection of Hwy 33/St. Rd. 5 and Hwy 6 in Ligonier, travel south on Hwy 33/SR 5 for 1.4 miles. Turn west on CR 550 N. and travel .2 mile to South Dr. Turn south on South Dr. and travel to end of road. Watch for signs. TRACTS 7-9: From intersection of Hwy 33/St. Rd. 5 and Hwy 6 in Ligonier, travel south on Hwy 33/SR 5 for 1.6 miles. At automatic signal near West Noble School Complex, turn southwest on SR 5. Properties are on west side. Watch for signs.

AUCTION LOCATION

Ligonier United Methodist Church Crosswalk Building, 466 Townline Rd., Ligonier, IN 46767. From the intersection of Hwy 33/St. Rd. 5 and Hwy 6 in Ligonier, travel west on Hwy 6 for 1 mile. Turn north on Townline Rd. and travel .6 mile to church.

PROPERTY DESCRIPTION

Excellent Duck Hunting along Davis Lake

Property description map - 371 Acres Offered in 9 Tracts

TRACT DESCRIPTIONS

Tract 1: 33± ac Located along CR 450 N. in Section 9 of Sparta Township. 33+/- acres of prime level mostly tillable land with over 930 feet of frontage. This tract features Sebewa Loam and Fox Loam as the two predominate soil types.

Tract 2: 104± ac Located along CR 450 N in Section 4 and Section 9 of Sparta Township. 104+/- acres which includes approximately 6+/- acres in CRP. Productive tillable farmland in one large contiguous field with easy access and an excellent drainage outlet via the open ditch.

Tract 3: 61± ac Located along Townline Rd. in Section 3 of Sparta Township and Section 33 of Perry Township. 61+/- acres of mostly tillable productive farmland. Warsaw Loam and Fox Loam are the primary soil types.

Tract 4: 26± ac Located along Townline Rd. in Section 3 of Sparta Township. 26+/- acres of mostly tillable productive land. Consider the possibilities of combining Tract 3 and Tract 4 for 86+/- acres of prime income producing land in a great location.

Tract 5: 52± ac Located along CR 550 N. in Section 4 of Sparta Township. 52+/- acres of prime level tillable land. Sebewa Loam and Gilford Loam are the predominate soil types. If Tract 5 is not combined with Tract 6 or is not purchased by an adjoining landowner, the Buyer of Tract 5 will be responsible for installing a culvert crossing over the Kalbeck open ditch as access to Tract 5. (Contact Auction Company for details).

Tract 6: 28± ac Located in Section 3 of Sparta Township. 28+/- acres which includes 25+/- acres of productive tillable land. This tract also includes a gently rolling possible building site. Access for Tract 6 is from South Drive on the north edge of the property.

Tract 7: 11± ac Located along State Road 5 in Section 3 of Sparta Township. 11+/- acres of flat productive tillable land with over 900 feet of frontage.

Tract 8: 20± ac Located along State Road 5 in Section 3 of Sparta Township. There is 200+/- feet of road frontage which narrows down to 80 feet of owned access to the 20+/- acres. This tract offers an ideal setting for fishing and hunting as it includes access to Davis Lake.

Tract 9: 36± ac Located along State Road 5 in Section 3 of Sparta Township with 36+/- acres. Consider the possibilities of this tract with recreational and income producing value. This tract features 8+/- acres of tillable productive land and access to Davis Lake. The balance is wooded hunting land.

AREA MAP

TRACT MAP(S)

Tract map - 371 Acres Offered in 9 Tracts

SOIL INFORMATION

Soil map - 371 Acres Offered in 9 Tracts

AREA MAP(S)

Area map - 371 Acres Offered in 9 Tracts

PROCEDURE: The property will be offered in 9 individual tracts, any combination of tracts and as a total 371 acre unit. 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 for individual tracts or combinations of tracts. The down payment may be made in the form of 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.

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

DEED: Seller shall provide Warranty Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place on or before November 1, 2011. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession is at closing, subject to tenants rights.

REAL ESTATE TAXES: Seller will pay all 2011 real estate taxes due on 2012. Buyer will assume taxes thereafter. 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. An inspection date has 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. Combination purchases will receive a perimeter survey only. 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.