PROCEDURE: The property will be offered in 2 individual tracts, any combination of tracts, or as a total 82+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts or on the entire property.

DOWNPAYMENT: Real Estate 10% down payment on the day of the 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: Successful bidder(s) will be required to enter into a purchase agreement 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: The Seller agrees to furnish Bidders a preliminary title opinion to review. If Buyer(s) elect to have title insurance, the entire cost of the owners title insurance will be the responsibility of the Buyers(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters. All tracts sold AS-IS.

DEED: Seller shall provide a Warranty Deed.

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of marketable title projected to be on or before December15st, 2012.

POSSESSION: Possession will be delivered at closing for all cropland subject to the 2012 crop in the field and 30 days after closing for all improvements.

REAL ESTATE TAXES / ASSESSMENTS: Buyer to assume the tax payment due in June 2013. Current Ditch assessments are the responsibility of the Buyer. All CAUV Recoupment will be at the expense of the Buyer.

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

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. If a survey is needed, Buyer(s) and Seller will share survey expense 50:50. If the property sells in its entirety, no new survey will be completed.

FSA INFORMATION: The property is farm #4786, Tract #1219. FSA information identifies 81.7 farmland acres with 80.0 cropland acres.

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

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.

AGENCY: Schrader Real Estate and 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 AS IS, WHERE IS 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, 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the persons credentials, fitness, etc. All decision of the Auctioneer is final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENTS.

Auction Brochure

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