AUCTION IS OVER

TOTAL SOLD: $1,100,000

Tract(s): 1-6

@ $1,100,000

($5,539/acre)

• Productive Tillable Land • Unique Recreational Land w/Pond • Drainage Outlet Access • 15 miles NE of Muncie • 12 miles SW of Portland

OPEN HOUSE/INSPECTION DATES

Thursday, September 20, 4-6 p.m.

PROPERTY LOCATION

Located at the intersection of SR 1 and SR 28. Property is 5 miles east of Albany and 7 miles north of Farmland.

AUCTION LOCATION

Albany Lions Club Building, 215 S. Waters Street, Albany, IN.
Directions: From the intersection of SR 28 and SR 67 at the west edge of Albany, travel east about 10 blocks to Waters St., then south (right) to Lions Club

TRACT DESCRIPTIONS

Tract 1: 48.7± ac 45.5 acres tillable per FSA, this gently rolling tract is perfect to add to your existing operation. Grass waterway and quail preserve in place. Approximately 1150 ft. frontage on SR 28.

Tract 2: 45.5± ac 36.5 acres tillable with balance wooded. Creek along eastern border provides drainage outlet. Has grass waterways and CRP filter strip. About 365 ft. frontage on SR 28.

Tract 3: 42.4± ac 31 acres tillable with about 10.2 acres wooded. Creek along western border provides drainage outlet. About 1580 ft. access on SR 28.

Tract 4: 25± ac 23.8 acres tillable with 400 ft. frontage on SR 28 and 1630 ft. of frontage on SR 1. Has grass waterway and quail preserve in place..

Tract 5: 12± ac Attractive secluded parcel features an approximately 1 acre pond. Great location to build or for recreation. Could easily clear for more tillable acreage. Parcel has 40 ft. of owned access to SR 28.

Tract 6: 25± ac 23.8 ac. tillable parcel with grass waterway, CRP filter strip and quail preserve in place. This Swing Tract must either be purchased by an adjoining landowner or in combination with another tract that provides road frontage.

AREA MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 6 individual tracts and as a total 198 +/- 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 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.

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

DEED: Warranty Deed.

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

POSSESSION: Possession is at closing subject to Tenants 2012 crop rights.

FARM PROGRAM INFORMATION: Farm #5406 Wheat base 4.2 ac., Corn base of 87.9 ac., Soy base 54.6 ac. Contact Agent for more information.

REAL ESTATE TAXES: Buyer(s) will assume all taxes due May 2013 and thereafter. 2011 payable 2012 RE taxes were $4282 or approximately $21.62/acre. Ditch taxes are $212.50/yr.

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.

Auction Brochure

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198 +/- Acres offered in 6 Tracts - Real Estate Auction