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73.59 FSA Tillable Acres
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Excellent Soils Farmed as ONE FIELD
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2-Story Country Home and Outbuildings
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Service/Cell Tower Income
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50 Miles to Indy & Dayton
Note: The BURROUGHS FARM has quality soils, abundant road frontage, and an attractive farmstead all in an outstanding location. Whether youre a crop farmer, investor or rural home buyer, this property warrants your attention!
80+/- Acres Offered in 4 Tracts
Hagerstown, IN - Wayne County
Owner: Harriet L. Burroughs Irrevocable Trust, US Bank NA Trustee. Donald Hawk, Trust Officer Tue, Feb 26, 2013 EASTERNAUCTION IS OVER
TOTAL SOLD: $721,000
| Tract(s): 1+3+4 | @ $645,000 | ($8,600/acre) |
| Tract(s): 2 | @ $76,000 | ($15,200/acre) |
OPEN HOUSE/INSPECTION DATES
Saturday FEBRUARY, 9 from 2-4PM
Saturday FEBRUARY, 16 from 2-4PM
Auction Day: 3-4PM
PROPERTY LOCATION
4500 N. Brick Church Rd. HAGERSTOWN, IN 47346. The farm sits approximately 2 miles west of Hagerstown just south of SR 38 on Brick Church Rd. From I-70 take Exit 137, travel north 4 miles to SR 38 then west 2 miles to Brick Church Rd., then left (south) 1 mile to the farm. Located in Section 28 of Jefferson Twnp. Wayne Co.
AUCTION LOCATION
Golay Community Center located at 1007 E. Main St. (US 40), Cambridge City, IN. Located at the corner of IN SR 1 and US 40.
TRACT DESCRIPTIONS
Tract 1: 67± ac nearly all tillable w/ 2350 ft. +/- frontage on Bear Creek Rd. and 800 ft.+/- frontage on Brick Church Rd. Quality well-drained soils with ease of operation. Currently farmed as one field. Predominantly Treaty, Crosby and Losantville soils.
Tract 2: 5± ac with 2 story farmhouse and outbuildings. 500 ft.+/- of frontage on Brick Church Rd. and 440 ft.+/- of lot depth. Vinyl sided home with vinyl windows and 2,046 sf of living space. Walk-out basement and covered front & back porches. Outbuildings include a 36 ft. x 56 ft. metal-sided enclosed barn w/concrete floor and a 36 ft. x 78 ft. metal-sided barn that is open to the east. Come examine all the possibilities this Farmstead has to offer. Nettle Creek Schools.
Tract 3: 5± ac Swing Tract. All productive Tillable ground. Add this to Tract 2 to have a nice 10 acre Mini-farm. This tract must be purchased by an adjoining land owner or in combination with Tract 1 or Tract 2.
Tract 4: 3± ac with leased service tower. 275 ft. of frontage on Bear Creek Rd. and 475 ft. of lot depth. Excellent income potential with current lease through 11/30/17 paying $316.25 / month. Additional renewal options of (4) consecutive 7-year periods with stepped up payments. Buyer will assume the current lease.
AREA MAP
TRACT MAP(S)
SOIL INFORMATION
AREA MAP(S)
PROCEDURES: The property will be offered in 4 individual tracts, any combination of tracts, or as a total 80+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Tract 3 is a swing tract and must be bid in combination with an adjoining tract.
DOWN PAYMENT: 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 will provide Title Insurance at closing and a preliminary title commitment for the review of the prospective buyer(s).
DEED: Seller shall provide a Trustees 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 April 5th, 2013.
POSSESSION: Possession will be delivered at closing on Tracts 1,3 and 4. Possession of Tract 2 with the improvements will be 30 days after closing. Immediate possession of Tracts 1,3, & 4 for limited farming practices may be obtained by placing an additional 10% down payment at the auction (20% total). Buyer to receive 2013 CROP RIGHTS!
REAL ESTATE TAXES / ASSESSMENTS: Buyer to assume the tax payment due for the year 2013 pay 2014. Seller will pay all taxes due and payable for 2012 pay 2013.
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.
EASEMENTS & LEASES: Sale of the property is subject to any and all easements of record. See Agent of Lease information on Tract 4.
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.
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