60+/- Acres Offered in 2 Tracts, Real Estate Auction

Battlecreek, Michigan

Owner: OWNER: Living Trust of John J. Smith; CO-TRUSTEES: Barbara S. Merlihan & Karen T. Hale Mon, Oct 28, 2013 EASTERN

AUCTION IS OVER

• 60+/- Acres Offered in 2 Tracts • Real Estate Auction • Large Country Home • Horse Facilities with Training Track • Productive Soils • Harper Creek Schools • Within 1 Mile of Binder Park Zoo • Excellent Location near Shopping, Dining & Churches

OPEN HOUSE/INSPECTION DATES

Saturday, October 12, 10AM-11:30AM
Monday, October 14, 4PM-5:30PM
Meet a Schrader Representative at the Home on Tract 2

PROPERTY LOCATION

8401 Division Drive Battle Creek, MI 49014
Go east of Battle Creek on I 94 to Exit 100 Beadle Lake Rd. go south 2.5 mile to Division Drive (at Binder Park) go east continue on gravel rd. for 1/4 mile to Property.

AUCTION LOCATION

Home Grange #129 at B Drive South and 9-1/2 mile N/W corner
Directions from property: Go west on Division Dr. to 8 Mile Rd. go south B Drive South go east 1.5 mile to 9-1/2 Rd.

TRACT DESCRIPTIONS

Tract 1: 50± ac 330+/- ft. Frontage on Division Dr. 44+/- acres open land mostly tillable, 6+/- acres wooded, major part of training track.

Tract 2: 10± ac 660 ft.+/- Frontage on Division Dr. Large Country Home 3000 plus sq. ft. above ground level living space, 1694 sq. ft. basement, total finished area 4700 sq.ft. plus, large screened in porch, 6 bedrooms, 3-1/2 bathrooms, radiant heat plus a corn and pellet stove, fire place, many unique features, attached 2 stall garage, 5 out buildings hip roof barn with stalls and lean to, pole shed, 2 stables, shed, part of training track. Approximately 5 Acres tillable.

AREA MAP

TRACT MAP(S)

Tract map - 60+/- Acres Offered in 2 Tracts, Real Estate Auction

SOIL INFORMATION

Soil map - 60+/- Acres Offered in 2 Tracts, Real Estate Auction

AREA MAP(S)

Area map - 60+/- Acres Offered in 2 Tracts, Real Estate Auction

PROCEDURE: The property will be offered in 2 individual tracts and as a total 60+/- acres

DOWN PAYMENT: Ten percent (10%) down payment on the day of auction with the balance in cash at closing. 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.

buyers premium: There will be a 3% Buyers Premium added to the high bid to determine the contract sales price.

Evidence of Title: Seller shall provide an owners title insurance policy in the amount of the purchase price.

CLOSING: The balance of the purchase price is due at closing, which shall take place within 15 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession of land at closing, with tenants rights to 2013 crop.

REAL ESTATE TAXES: Seller shall assume 2013 taxes.

APPROVALS: Sale and closing shall be contingent upon approval by Emmett Township and the proposed land division and compliance with Public Act 591, as to all parcels sold. All real estate is being sold subject to any existing easements and right-of-ways of record and without grants of further division rights under Public Act 591.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) and Seller will share the survey expense 50:50.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER & 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 questions as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OF OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE