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LAND AUCTION - 233+/- ACRES OFFERED IN 6 TRACTS IN PULASKI COUNTY, INDIANA

Tracts 1 and 2: SE Side of Medaryville, Tracts 3-6: 5+/- Mi. SE of Medaryville and 6+/- Mi. NE of Francesville

Owner: GSKM Farm, LLC Tue, Feb 8, 6:00 PM

• Productive Farmland • Nearly All Tillable • Excellent Road Frontage • Investigate Home Site Potential

REAL ESTATE TAXES: 2020 payable 2021:

  • Tracts 1 & 2 (2 Tax ID #s) $1,050.90
  • Tracts 3 - 5 (2 Tax ID #'s) $3,021.94*
  • Tract 6 (1 Tax ID #) $457.58
  • Tract 6 - Drainage assessments: $40.00
    * Includes 64 +/- acres and buildings that are not part of auction property.


    Information Booklet


    PROPERTY LOCATION

    Directions to Tracts 1 and 2, in Medaryville from the intersection of US 421 and Main Street, go east on Main Street 1/2 mile until it T's into 1450 W. Go south on 1450 W approximately .2 mile to Tract 1 on the west side of the road. Tract 2 is immediately south of Tract 1. Directions to Tracts 3 - 6, south of Medaryville, from the north junction of US 421 and State Road 14, go east on SR 14 for 3 1/4 miles to 1175 W. Go south on 1175 W one mile to 100 S and Tract 4 is on the south side of 100 S. Go west on 100 S 1/4 mile to 1200 W. Then go south on 1200 W 1/2 mile to 150 S. Go east on 150 S and in approximately 1/4 mile you will reach Tract 3 on the north side of the road and Tract 6 on the south. Tract 5 is immediately east of Tract 3.

    AUCTION LOCATION

    Meadow Springs, 8631 S. US 421, Francesville, IN 47946. Approximately 3 1/2 miles south of Francesville on US 421, at the southwest corner of US 421 and State Road 114.

    TRACT DESCRIPTIONS

    Tract 1: 23± ac Highly productive soils and nearly all tillable. This tract has excellent road frontage along 1450 W just south of Medaryville.

    Tract 2: 32± ac Highly productive soils and nearly all tillable. Frontage on 1450 W.

    Tract 3: 65± ac Productive soils and nearly all tillable. Ditch on the north and east providing drainage outlets. Frontage on 150 S.

    Tract 4: 44± ac Productive soils and 39.69 acres tillable per FSA. The Ditch on the south also provides an excellent drainage outlet. Excellent road frontage along 100 S.

    Tract 5: 25± ac Productive soils and 22.64 acres tillable per FSA. Ditches along the west and north for drainage. Road frontage on 150 S.

    Tract 6: 44± ac Productive soils and 44.23 acres tillable per FSA. Nice square parcel with road frontage on 150 S.

  • TRACT MAP(S)

    Tracts 1 & 2

    Tracts 3 - 6

    AREA MAP(S)

    PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts and as a total 233+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations, and the total property may compete.

    BUYERS PREMIUM: The contract purchase price will include a Buyer's Premium equal to 2% of the bid amount.

    DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashier's 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 final bid prices are subject to the Seller's acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

    DEED: Seller shall provide a Warranty Deed sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

    EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's Title Policy shall be paid for by Seller at closing.

    CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment and Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

    POSSESSION: Possession is at closing.

    REAL ESTATE TAXES: Seller shall pay all 2021 real estate taxes due and payable in 2022. Buyer shall assume any taxes thereafter. Buyer shall assume any ditch and drainage assessments due after closing.

    ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS, existing legal descriptions and/or aerial mapping.

    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 this auction or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. 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 Seller's option and sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.

    PROPERTY INSPECTION: Each potential Bidder is 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. Further, Seller disclaims any and all responsibility for Bidder's safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

    EASEMENTS: Subject to any and all existing easements.

    AGENCY: Schrader Real Estate & Auction Company, 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 an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed 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 conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. 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. 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 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.