120 Acres Offered in 9 Tracts - Real Estate & Personal Property Auctions

Kosciusko Co., Indiana - Tippecanoe Twp.

Owner: The Raymond & Myra Lackey and Ida Mow Estates Tue, Jul 26, 2011 EASTERN

AUCTION IS OVER

• REAL ESTATE AUCTION: TUESDAY, JULY 26 AT 6 PM • PERSONAL PROPERTY AUCTION: SATURDAY, JULY 30 AT 9:30 AM • 3 Country Homes • Farm Land • Potential Building Sites • Pole Building • Hunting & Recreation • Wawasee Schools • South of North Webster • North of Pierceton • Northeast of Warsaw


OPEN HOUSE/INSPECTION DATES

Saturday, June 25 from 9-10:30 AM &
Tuesday, June 28 from 4:30-6 PM Call the Sale Managers for private inspections.

PROPERTY LOCATION

2825 N 600 E, Warsaw, IN. South of North Webster or North of Pierceton on SR 13 to CR 200 North, turn 1.5 miles west to CR 600 E. Turn north one half mile. Or from Warsaw, turn northeast on Old 30 at K-Mart 5 miles to CR 650 E then turn north 2 miles to CR 200 N, turn 1.5 miles west to CR 600 E. Turn north one half mile.

AUCTION LOCATION

Real Estate at the North Webster Community Building on State Road 13 just north of the stop light. Personal Property Auction held at the farm.

PROPERTY DESCRIPTION

Parcel ID ft.s # 005-125-002, 005-130-005, 005-125-003

TRACT DESCRIPTIONS

Tract 1: 1± ac Sprawling limestone ranch home: 1700 square feet, 3 bedrooms, 3 full baths, living room dining room, 3 seasons room, limestone fireplace, full walk out basement and a 3 and a half car garage. Hot water heat. There is an attached 864 square foot one bedroom, one bath, extended family suite or apartment, 3 seasons room and hot water baseboard heat and access to attached garage.

Tract 2: 24.5± ac 3 storage and livestock buildings, great recreational retreat, hunting and wildlife. Approximately 7 tillable acres - ideal for food plot. The balance is wooded. A Great secluded building site. Road frontage on CR 600 E with an additional 50 ft. entrance.

Tract 3: 52± ac approximately 50 productive tillable acres.

Tract 4: 21± ac nearly all wooded, creek, with cross over culvert, hunting and wildlife. For a 44.5 acre wildlife refuge combine tracts 2 and 4.

Tract 5: 1± ac 32 ft. x 64 ft. pole building with a 20 ft. x 64 ft. attached lean-to. buy it for storage or combine it with the farmland or home.

Tract 6: 0.5± ac 1240 Square foot home, this 1 and a half story country home has one bath and 2 bedrooms, living room and dining area or family room. This home is handicap accessible, on just under one half acre.

Tract 7: 9± ac mostly tillable, or potential building site. With small grain bin.

Tract 8: 10.5± ac with 12 ft. x 56 ft. mobile home or a potential building site on this mostly tillable parcel.

Tract 9: 0.5± ac 912 Square foot one story home with 3 bedrooms and attic room, mud room, basement and 22 ft. x 14 ft. attached garage.


AREA MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1 -9, will be offered in individual tracts, or as a total unit. There will be open bidding on all tracts. The property will be sold in the manner resulting in the highest total sale price. DOWN PAYMENT: 5% of the accepted bid as down payment on the day of the auction with balance in cash at closing. The down payment may be in the form of cash, cashier ft.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. 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. All final bid prices are subject to the Sellers acceptance or rejection.

DEED: Seller shall provide a Trustee ft.s deed.

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

CLOSING: Closing shall take place 15 days after proof of merchantable title.

POSSESSION: at closing on homes, improvements, and non-tillable land. After harvest of crops on tillable land. The tillable land is leased for the 2011 crop year only.

REAL ESTATE TAXES: Seller shall pay the 2011 taxes due in 2012.

DITCH ASSESSMENTS: Buyer shall pay all ditch assessments due after closing.

ACREAGE: All acreage is approximate and has 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 the auction. Any need for a new survey will be determined solely by the Seller, cost of the survey will be split 50/50 between Buyer and Seller. The type of survey performed shall be at the Seller ft.s option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres. In the event that the entire property sells to one buyer there shall be no survey.

EASEMENTS: The sale of the property is subject to any and all easements of record.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE. Tract acreage has been estimated based on aerial photographs. The property is being sold on an in.AS IS, WHERE IS in. basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, 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. All sketches and dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and the Auction Company make no warranty or representation, express or implied or arising by operation of law, including an warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person ft.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

None at this time