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RESCHEDULED FARM AUCTION - 85+/- ACRES OFFERED IN 4 TRACTS IN LENAWEE COUNTY, MICHIGAN

Lenawee County, Michigan

Owner: Samuel & Keturah Delagrange Mon, Oct 19, 6:00 PM

• 85+/- Acres offered in 4 Tracts, Combinations of Tracts and as a whole • Home & Buildings • Productive Tillable Acres • Wooded Acres • For Social Distancing purposes, Only 1 bidder allowed per entity • ONLINE BIDDING RECOMMENDED 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.


OPEN HOUSE/INSPECTION DATES

Monday, October 5 from 4-7pm

PROPERTY LOCATION

10900 Munson Hwy., Hudson, MI

AUCTION LOCATION

Morence Sportsman Club, 8972 W. Mulberry Road, Morenci, Michigan

TRACT DESCRIPTIONS

Tract 1: 24.6± ac This tract offers a 3,300 sq.ft. two-story home, with 8 bedrooms, large kitchen & family room. The home has vinyl construction windows throughout. There is a large productive garden plus grapes, black raspberries, & fruit & nut trees. This tract has over 1,325 ft. of road frontage along Ridgeville Rd & approximately 800 ft. along Munson Hwy. An 8 in. tile was run south of the house to county tile. The homes well and septic are currently NOT IN COMPLIANCE with the Lenawee County Health Departments guidelines. It will be the Buyers responsibility to complete the Lenawee County Health Department Compliance Plan prior to closing. Contact Auction Company to receive complete Compliance Plan for transfer of property. There are several buildings as follows: A new 40 ft.x80 ft. pole building built in 2017, a 3,456 sq.ft. implement barn built in 2015, & several misc. livestock/equipment barns & sheds, plus corn crib. The schoolhouse, privy, & horse shed are not included.

Tract 2: 20.8± ac This tract has approximately 680 ft. of road frontage. It is comprised of mostly Glynwood loam with some Brookstone & Morley loam soils. There are approximately 5+/- acres of woods in the back. Combine Tracts 1 & 2 for a complete 45+/- acre farm with great deer hunting & productive soils. There are new 8 in. & 10 in. tiles that run across the west part of Tract 1 & 2 into the 15 in. drain.

Tract 3: 29.2± ac This tract has approximately 950 ft. of road frontage. The soils are mostly Glynwood soils with some Pewamo & Morley loam soils. There are approximately 8+/- acres of woods to the back of tract.

Tract 4: 11.2± ac This tract is mostly all tillable with approximately 365 ft. of road frontage. The soils in the front are mostly Morley loam with Brookston loam & some Glynwood loam in the center to the back. Combine Tracts 3 & 4 for a potential buildable site with woods for great deer hunting & some of the best tillable & well drained acres on the farm. Call Auction Manager for county drain tile payment balance: Buyer(s) will be responsible for part.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

Tile Map

PROCEDURE: The property will be offered in 4 tracts, any combination of the 4 tracts or as a total 85+/- unit. There will be open bidding on all tracts & combinations during the auction as determined by the auctioneer. Bids on the tracts & the total property may compete. The property will be bid in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% Cash down payment at close of auction for individual tracts or combination of tracts. The down payment may be made in the form of Cash or cashiers check or a personal or corporate check immediately negotiable. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, & ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: At the close of the auction, Buyer(s) will be required to execute an Agreement to Purchase Real Estate & Addendum. The terms of this agreement & addendum are non-negotiable. All final bid prices are subject to the Sellers acceptance or rejection.

DEED: Seller shall provide a Warranty deed. Real Estate sold subject to all rights of way, legal highways, leases, & easements of public road & utilities.

EVIDENCE OF TITLE: Seller agrees to provide marketable title to the property, subject to matters of record. It shall be the Buyer(s) option to purchase Title Insurance if desired. The cost of the Owners Title Insurance will be the responsibility of the Buyer(s).

CLOSING: Balance of purchase price is due in cash at closing, which will take place approx. 30 days after the auction. The cost for an insured closing will be shared 50/50 between Buyer & Seller. All lenders costs shall be paid by the Buyer(s).

POSSESSION: Possession of farm land is at closing. For Tract 1, The homes well and septic are currently NOT IN COMPLIANCE with the Lenawee County Health Departments Guidelines. It will be the Buyers responsibility to complete the Lenawee County Health Department Compliance Plan prior to closing. Contact Auction Company to receive complete Compliance Plan for Transfer of Property.

REAL ESTATE TAXES: The Real Estate Taxes shall be pro-rated to the date of closing. The Buyer(s) shall pay all thereafter. The property is subject to unexpired Farmland Development Rights Agreement(s) which shall be transferred to & assumed by the Buyer. Buyer shall hold harmless Seller from & against any recapture due as a result of termination or non-compliance after closing. The current FDRA contract expires in 2024.

DITCH ASSESSMENTS: Buyer(s) shall pay all ditch assessments due after closing.

ACREAGE: All tract acreage, dimensions, & proposed boundaries are approximate & 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 the auction. Any need for a new survey will be determined solely by the Seller. The cost of the survey will be split 50/50 between Buyer & Seller. The type of survey performed shall be at the Sellers option & sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised & surveyed acres. In the event that the entire property sells to one buyer there shall be no survey.

PROPERTY INSPECTION: Each potential Bidder is responsible to conduct, at their own risk, their own independent inspections, investigations, inquiries, & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Please feel free to inspect the land at any other time at your own risk & being careful to respect the tenant farmers growing crops.

EASEMENTS: All real estate is being sold subject to any existing recorded easements. Existing recorded leases, if any will be assigned to the Buyer.

COUNTY DRAINS: The Lenawee County Drain Commissioners office shows remaining installments due for the Bailey Tile reconstruction on this farm. The Buyer(s) will pay a pro-rated amount towards these remaining installments. Contact Auction Manager for Pro-rated amounts.

BUILDING SITES: None of the auction tracts and/or potential sell-offs have been reviewed or pre-approved by the Lenawee County Plan Commission. Each Buyer assumes all responsibility for satisfying the requirements of the local authorities in connection w/ any future use, improvement or development of the purchased tract(s), including any requirement for lot or plat approval or any other approval or permit from the plan commission, planning department, building department and/or health department. Sellers & Auction Company shall have no obligation or responsibility before or after closing w/ respect to any permit or approval that Buyer may need in connection w/ any prospective use or improvement. Buyers obligation to acquire the purchased tract(s) is not contingent upon obtaining any such permit or approval.

DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials is subject to the Terms & Conditions outlined in the Purchase Agreement. Your bids are to be based solely upon your inspection. All real estate is sold as is without physical warranty. Seller & agent are not assuming any responsibility for warranty of any specific zoning classifications, location of utilities, assurance of building permits, driveway permits or water & septic permits. The property is being sold on an AS IS, WHERE IS basis, & no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company. 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. All sketches & dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof & acknowledges that in consideration of the other provisions contained in the sale documents, Seller & the Auction Company make no warranty or representation, express or implied or arising by operation of law, including an warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, & in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction & increments of bidding are at the direction & discretion of the auctioneer. The Seller & Auction Company 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.