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FARMLAND AUCTION - 328+/- ACRES OFFERED IN 5 TRACTS IN WAYNE COUNTY, INDIANA

Eastern Indiana - Wayne County, Indiana

Owner: Farm A: Ronald D. Hoover Trust, Ronald S. Hoover Trustee - Farm B: Ronald D. Hoover Estate and Joy E. Curless, Bob Bever, Attorney Tue, Sep 15, 2020

AUCTION IS OVER

TOTAL SOLD: $1,915,000

Tract(s): 1+2 @ $800,000 ($7,692/acre)
Tract(s): 3 @ $265,000 ($6,625/acre)
Tract(s): 4 @ $450,000 ($5,113/acre)
Tract(s): 5 @ $400,000 ($4,166/acre)

• 328+/- Acres offered in 5 Tracts • 2 Farms • Productive Soils with 295+/- FSA Cropland Acres • Abundant Road Frontage with easy I-70 access • Good Agricultural Area located with 30 miles of Ethanol and Soybean processing plants • Mature woods for recreation or hunting • Near Hagerstown & Williamsburg, IN • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Tuesday, Aug. 18 from 10 am - 11 am
Tuesday, Sept. 1 from 10 am - 11 am
Tuesday, Sept. 8 from 3 pm - 4 pm

Meet AGENT at Tract 1

PROPERTY LOCATION

FARM A: TRACTS 1-3 (Harrison Twp Sec. 1): Located adjacent to 13809 Fagan Rd. Cambridge City, IN 47327. From I-70 exit 137, travel north on SR 1 for 2 miles. Then right on Fagan Rd.

FARM B: TRACTS 4-5 (Clay Twp Sec. 14): Located at the southwest corner of the intersection of Clyde Oler and Carlos Road. From Tracts 1-3, continue north on SR 1 for 4 miles to Clyde Oler Rd. Turn right (east) and follow Clyde Oler Rd. for 4 miles to the farm.

AUCTION LOCATION

Hartley Hills Country Club, 201 N. Woodpecker Rd., Hagerstown, IN 47346. (Just north of the intersection of IN SR 38 and IN SR 1).

TRACT DESCRIPTIONS

Tract 1: 19± ac
FARM A - TRACTS 1-3, 144+/- Acres (Harrison Twp. Sec. 1)
**NOTE: House and Barns are not included in the Auction **

TRACT #1: 19+/- ACRES nearly all tillable. Located with frontage on both IN SR 1 and Fagan Road. Nearly level with a good mix of Crosby, Treaty and Miami Soils. Examine all the possibilities this Tract has to offer.

Tract 2: 85± ac with 81+/- FSA tillable acres. 1,750 ft.+/- of frontage along IN SR 1. This is a nice size tract allowing for ease of farming operation. Predominantly Crosby, Treaty and Miami soils. Consider combining with Tract 1 for 100+/- tillable acres.

Tract 3: 40± ac with a nice mix of tillable and mature woods. 28+/- FSA tillable acres. Nearly 600 ft.+/- of frontage along Fagan Rd. Make this your estate building site or consider combining with Tract 2. Great combination piece for recreation and crop income.

Tract 4: 88± ac
FARM B - TRACTS 4-5, 184+/- Acres (Clay Twp. Sec. 14)
TRACT #4: 88+/- ACRES with 78+/- FSA tillable acres. Frontage on Clyde Oler Rd. Features a mix of Crosby, Treaty and Strawn soils. Farm lane is included with this tract and goes to the middle of the parcel where there is an older single story barn.

Tract 5: 96± ac with 80+/- tillable acres. Several grass waterways with drainage tile. Gently rolling tract. Frontage on both Carlos and Clyde Oler Rd. This farm is only 1 mile from the Wayne County Produce Auction.

TRACT MAP(S)

Tracts 1-3

Tracts 4-5

AREA MAP(S)

PROCEDURE: The property will be offered as 2 farms. FARM A: Tracts 1-3 cannot be combined with FARM B: Tracts 4-5. The property may be purchased in any combination of tracts 1, 2, & 3, or as a total 144+/- acre unit consisting of FARM A and any combination of Tracts 4 & 5 or as a total 184+/- acre unit consisting of FARM B. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer.

DOWN PAYMENT: 10% non-refundable down payment is due on the day of auction. The down payment may be made in the form of 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: Each successful bidder must execute a purchase contract at the auction site immediately following the close of bidding. All final bid prices are subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: Seller will provide a Preliminary Title Report for review prior to the auction.

DEED: Seller will provide a Trustees and Warranty Deed as applicable.

CLOSING: The balance of the purchase price is due in cash at closing. The targeted closing period is on or before October 16, 2020.

POSSESSION: Delivery of possession will be at closing subject the 2020 crop lease and the harvest of the 2020 crop.

REAL ESTATE TAXES: Seller to pay 1/2 of the 2020 taxes due in 2021 by giving the buyer a credit at closing.

PROPERTY INSPECTION: Prospective bidders are responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Prospective bidders may enter upon the property only at the advertised times on the scheduled inspection dates or by special appointment.

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 obtained only (i) where a new parcel is created, (ii) where a new survey is required in order to record the conveyance, or (iii) at Sellers election. Survey costs will be shared (50:50) by Seller and Buyer. Any survey will be sufficient for recording the conveyance but the type of survey shall otherwise be determined by Seller. Any survey of adjacent tracts purchased in combination will not show interior tract boundaries.

FSA INFORMATION: See Agent. FARM A: FSA Farm #819 w/ 125.38 FSA Cropland Acres. FARM B: FSA Farm #637 w/ 168.32 FSA Cropland Acres.

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

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and any other marketing materials are subject to the terms and conditions of the purchase contract. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, express or implied, concerning the property is made by the Seller, Auction Company or Cooperating Broker. 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 prior to bidding. The information in this brochure is subject to independent verification by all parties relying on it. Seller, Auction Company and Cooperating Broker disclaim (i) any warranty of its accuracy and (ii) any liability for errors or omissions. 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.

STOCK PHOTOGRAPHY: Photos are for illustrative purposes only and are not of the auction property.