AUCTION IS OVER

TOTAL SOLD: $860,000

Tract(s): 1-6

@ $860,000

($10,750/acre)

Own land nearby? These are real results from this sale, not estimates. Ask Jerry Ehle, who managed this auction, what your land would bring in today's market. There is no obligation.

Ask about my land or call 800-451-2709

• Gorgeous Custom Built Country Home • New Barn • Lots of Road Frontage

Auctioneers Note: This home has too many features and amenities to mention. Attend one of the Open Houses to preview or call the office for a private showing!

OPEN HOUSE/INSPECTION DATES

Sunday, October 7, 2-4 p.m.
Tuesday, October 16, 5-7 p.m.

Call the office for a private showing!

Walkover inspections of land permitted, subject to farmers crops.

PROPERTY LOCATION

18202 Chaney Rd, Spencerville, IN.

AUCTION LOCATION

Held on site.

TRACT DESCRIPTIONS

Tract 1: 20± ac Contemporary Country Home with rustic flare, 36 x 50 Modern Barn, 20 private and partly wooded acres. This gorgeous custom built home features open floor plan with floor to ceiling stone fireplace, beamed ceiling great room and dramatic open kitchen with eat in area. The kitchen has an island with two tier top and contains the electric range / oven. It features beautiful hardwood flooring and hickory cabinetry. There is a large screened sunroom with tile floor off of the back of the kitchen. The great room flows off of the kitchen continuing with hardwood flooring and the beautiful stone fireplace. The master suite is on the main floor with huge master bath. Large country windows provide views of pastures and woods. There is a large guest suite upstairs with Jack & Jill bath to third bedroom. There is a large sitting / office area in the spacious loft overlooking the downstairs. The lower level is a spacious daylight level with lots of room for entertaining. There is a full bath in the lower level with a separate family room. Other features: 3 car garage / Breezeway from garage / Covered front porch / Geo thermal heat / Zoned plumbing / Security system / Lots of accent lighting / Lots of storage / Extensive landscaping / 36 x 50 barn with concrete floor, water, & electric / Lots of concrete drive / 20 acres are completely fenced for pasture / Lots of open acreage for additional buildings, pasture, or crops.

Tract 2: 22± ac Tracts 2 & 3 Combined: Each Tract has nearly 500 feet of road frontage along Campbell Road. Each are mostly tillable with productive soils, consisting of mostly Rawson loam, with some Pewamo and Blount loams. Combine both with Tract 1 for a 42 acre mini farm.

Tract 3:

Tract 4: 17± ac TILLABLE ACRES. This tract has approximately 150 feet of access off of Bull Rapids Road. This is an elevated tract with the highest point on the farm. It is well drained with predominantly Blount soils with some Morley silt loam. This tract offers a great mini farm opportunity with a long private set back off the road. Great flexibility to combine with Tract 1 or Tract 5!!

Tract 5: 19± ac WITH 2 ACRE POND AREA. Most of the remainder of acreage is tillable with a 75 foot access off of Campbell Road and a 50 ft. easement access off of Bull Rapids Road. There is some roll in the terrain for a potential walk-out building site near the pond. Most of the soils are Morley silt loam with some Pewamo silty clay along the ditch bottom.

Tract 6: 3± ac PARCEL OF TILLABLE LAND. This parcel runs along south of the drainage ditch and north of Campbell Road. There is over 500 feet of road frontage along Campbell Road. The soils are mostly Pewamo silty clay with some Blount silt loam. A great patch to raise hay or a possible building site. Combine Tracts 4, 5, and 6 for a complete nearly 40 acre mini farm!!

AREA MAP

TRACT MAP(S)

Tract map - 80 +/- Acres Offered in 6 Tracts - Spectacular Farm & Home

AREA MAP(S)

Area map - 80 +/- Acres Offered in 6 Tracts - Spectacular Farm & Home

PROCEDURE: The property will be offered in 6 tracts, and combination of the tracts. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on each tract and the combination may compete.

DOWN PAYMENT: $5000 down on Tract 1 and any combination with Tract 1. 10% down payment on all other tracts on the day of auction with the balance in cash at closing. 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: All successful bidders will be required to enter into purchase agreements at the auctions site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or refection.

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

DEED: Seller shall provide a Warranty Deed(s).

EASEMENTS: Buyer(s) shall sign a declaration of easement which will be recorded as Addendum B providing for drainage easement rights. A copy of the declaration of easement is available from auction office.

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the auction. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession on Tract 1 shall be 5 days after day of closing. All other tracts shall be on day of closing, immediately following the closing, and subject to any of tenant farmers crops.

REAL ESTATE TAXES: The Real Estate taxes shall be pro-rated to the day of closing.

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. Combination purchases will receive a perimeter survey only.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC., 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.