AUCTION IS OVER

TOTAL SOLD: $715,000

Tract(s): 1+2

@ $715,000

($8,938/acre)

• 80 +/- Acres Offered in 2 Tracts or Combination • 2-Story Home • Outbuildings • Productive Cropland • Hay & Pasture Land

OPEN HOUSE/INSPECTION DATES

Thursday, June 27, 5-7PM
Saturday, June 29, 1-5PM

PROPERTY LOCATION

From the north edge of Leo-Cedarville on State Highway #1, travel northeast approximately 4-1/4 miles to the North County Line (just past the railroad tracks), this is County Road 72 in DeKalb County. Turn west on CR 72 approximately 1/2 mile. Farm is on the north side of the road.

AUCTION LOCATION

The auction is being held at the Countryside Church of Christ, located north of Grabill on Roth Road at the intersection of Hurshtown Road (14314 Hurshtown Road.) This is at the northeast corner of the large Hurshtown Reservoir.

PROPERTY DESCRIPTION

This 80 acre farm located at 4921 Co. Rd. 72, Spencerville, IN, just in the edge of DeKalb County, would lend itself well to a general grain and livestock farm, with both productive cropland and gently rolling hay and pasture land. The 5 bedroom, 2 story home sits on a full basement with 2 kitchens (1 in basement) and 3 full baths. (All appliances stay in home.) There is a fireplace in the basement and an attached 2-car garage. This home is approx. 41 years old and is very sound. The basement is dry and no sump pump was ever needed. Front lawn is shaded by mature maples around the home.
There is a red barn, 37 ft. x 60 ft., with a complete concrete floor. It has both water & electric, and is square & sound with a good roof. Cosmetics is all that is needed in the way of doors and paint to put it back in tip-top shape. A 40 ft. x 80 ft. x 12 ft. eve tool shed with earthen floor exists for equipment & other storage.

Great deer hunting! Because of the surrounding woods and the natural travel corridors with water available all you have to do is sit in one of the fence rows and wait, and the deer will walk right past you. I know for a fact! 3 different years I have hunted this farm and have taken 2 does and an 8-point buck from the same spot.

TRACT DESCRIPTIONS

Tract 1: 6.7± ac 2 acre mixed hay field west of the long drive and is about 1/3 covered in large mature trees. Beautiful hill top setting. Note: The grain bin and dryer is owned by Steve Watson and will not sell with the farm.

Tract 2: 73.3± ac or the balance of this farm varies greatly from highly productive Blount silt loam on a flat 1-4% slope, representing about 1/3 of the farm soil type. Morley, Glynwood loam, Wallkill silt loam, & Pewamo silty clay make up the other 2/3 of the soils. Weighted average for yields are shown on the surety soils map. Approx. 3 acres of woodland is located at the southeast corner of the farm. Approx. 1.75 acres pond area is located south of the far north field west of the farm lane, great for livestock or wildlife watering.
Please Note: If the tracts sell separately, a permanent deeded easement will be given to the buyer of Tract #2 for ingress and egress the farm using existing farm driveway and lane through the woods for agricultural purposes.

AREA MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 2 tracts, and any combination of tracts. There will be open bidding on all tracts and the combinations during the auction as determined by the Auctioneer. Bids on tracts, and tract combinations may compete.

DOWN PAYMENT: 10% down payment on the day of auction with the balance in cash at closing on bare land tracts. The tract with improvements including the home will require a $5,000.00 down payment. 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 auctions site immediately following the close of the auction. Seller reserves the right to reject any and all bids.

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

DEED: Seller shall provide a Trustees Deed.

CLOSING: The balance of the purchase price is due at closing, which will 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 will be on day of closing with tenants rights to the 2013 crops.

REAL ESTATE TAXES: The Real Estate Taxes shall be pro-rated to the day of closing. The 2012-2013 taxes were $2,371.98.

ACREAGE: All tract acreage, 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 the tract divisions in this auction create new boundaries. Solely the Seller shall determine any need for a new survey. 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.

AGENCY: Schrader Real Estate & Auction Co. 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. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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