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LAND AUCTION - 103+/- ACRES OFFERED IN 3 TRACTS AND 25 +/- ACRES OFFERED SEPARATELY IN PAULDING COUNTY, OHIO

Paulding, OH - Paulding County, OH

Owner: Barbara A. (McGrath) Sorg, Trustee (Farm 1) N & M Properties, LLC (Farm 2) Tue, Oct 5, 6:00 PM

• TILLABLE LAND • GOOD ROAD FRONTAGE • TILED TRACTS • GREAT INVESTMENT OPPORTUNITY


OPEN HOUSE/INSPECTION DATES

MONDAY, SEPTEMBER 20TH from 5:00 TO 7:00 PM

PROPERTY LOCATION

FARM 1 (103+/- ACRES)
LOCATED AT THE NORTHWEST CORNER OF COLLEY RD, RD 108 & LOUCK RD, RD 131
FARM 2 (25+/- ACRES)
LOCATED AT THE SOUTHWEST CORNER OF SR 49 & SR 111

AUCTION LOCATION

THE PAULDING COUNTY FAIRGROUNDS
501 FAIRGROUND DR., PAULING, OH 45879

TRACT DESCRIPTIONS

Tract 0: 25± ac (Farm 2) Offered as one parcel only. This tract is mostly all tillable with mostly level terrain. The soils are Nappanee silty clay loam mixed with Latty silty clay. There is road frontage along SR 49. This location lends itself to a great investment opportunity for future uses.

Tract 1: 74.2± ac (Farm 1) This tract has road frontage along Rd 131 with a county drain along the road. The property is mostly tillable with a county drain running along the north property line. There is also a CRP filter strip along the drain. The property has been tiled most recently 10 years ago with 4" tile and 25' spacing. There are 3 outlet tiles to the drain along 131. The terrain is level with soils mostly Paulding Clay with some Nappanee silty clay loam. There are approximately 1,325' of road frontage along 131.

Tract 2: 14.5± ac (Farm 1) This tract has also been tiled every 25' with outlets to the drain. There are approximately 665' of road frontage along Rd 108. The soils are mostly Paulding Clay with some Nappanee silty clay in the center.

Tract 3: 14± ac (Farm 1) This tract has also been tiled every 25' with outlets to the drain. There are approximately 670' of road frontage along Rd 108. The soils are mostly Paulding Clay with some Nappanee silty clay in the center.

TRACT MAP(S)

Tracts 1-3

AREA MAP(S)

AUCTION TERMS & CONDITIONS:

PROCEDURE: Except for Tract 4, the property will be offered in 3 tracts, any combination of the 3 tracts or as a total unit. Tract 4 will be offered separately & cannot be combined w/ any other tracts. 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 cashier's 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 Seller's 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 Owner's 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, on or before November 5, 2021. 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, subject to any tenant farmer's 2021 crops.

REAL ESTATE TAXES: The Sellers will pay the 2021 Real Estate Taxes due in 2022. The Buyer(s) shall pay all thereafter. CAUV: If usage of property is changed, the Buyer is responsible for CAUV recoupment. Sellers have heretofore used property for agricultural purposes & its real estate taxes have been levied & paid upon a reduced Current Agricultural Use Valuation (CAUV). The Buyer's inability or failure to qualify w/ the local County Auditor for the CAUV valuation for the future will result in a CAUV recoupment of the past real estate tax savings. Buyer shall be wholly responsible for & pay any CAUV recoupment to become due by Buyer's conversion of the property to a non-agricultural or non-qualifying use (w/in the definition of Current Agricultural Use Property).

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

ACREAGE: All tract acreage, dimensions, & proposed boundaries are approx. & 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 Seller's 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. BUILDING SITES: None of the auction tracts and/or potential sell-offs have been reviewed or pre-approved by the Paulding 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. Buyer's obligation to acquire the purchased tract(s) is not contingent upon obtaining any such permit or approval.

FAIR HOUSING: It is illegal, pursuant to the Ohio Fair Housing Law, Division (H) of Section 4112.02 of the Revised Code & the Federal Fair Housing Law 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease, or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, because of race, color, religion, sex, familial status, as defined in Section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services.

DISCLAIMER & ABSENCE OF WARRANTIES: All info 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" w/out 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 info 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 person's 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.

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