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REAL ESTATE AUCTION 3+/- ACRES OFFERED IN 5 TRACTS IN NOBLE COUNTY, IN

Loon Lake - Noble County, IN

Owner: Don Davis & Nancy Davis Tue, Jun 28, 6:00 PM EASTERN

• Beautiful Lake Front Home • Storage Building • Potential Lakefront & Lake View Building Sites

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 Co. - 800-451-2709.


OPEN HOUSE/INSPECTION DATES

Sunday, May 29th, 1PM - 3PM
Monday, May 30th, 10AM - Noon
Tuesday, June 7th, 4:30PM - 6PM

PROPERTY LOCATION

5384 S 600 W-57, Columbia City, IN.
From US 30 & SR 109 in Columbia City turn north on SR 109 travel 5.5 Miles to CR 600 N turn west 2 miles to CR 200 W (turns into CR 600 W in Noble County) turn right 3/4 mile to the property.

AUCTION LOCATION

662 Countryside Drive, Columbia City IN
Across from Kroger, on the south side of the BMV building.

PROPERTY DESCRIPTION

Loon Lake is an all sports lake with daily designated ski times.

TRACT DESCRIPTIONS

Tract 1: Beautiful lakefront home, gorgeous lake views on Loon Lake, just past the Whitley County line in Noble County. Approximately 2036 square feet of living space, 3 bedrooms & 2 baths - this home is a must see, open living room with fireplace, dining area, kitchen with attractive counters & appliances with a lakeside open deck & an attached two car garage. Make this home your lakeside get away or year round residence. Lot is approximately 67ftx100ft .

Tract 2: Potential Lake front building site, or add this lot to Tract 1 for more lake frontage, or if you own a home in the subdivision, build a lake front storage building on this lot. Lot is approximately 53ftx117ft.

Tract 3: Vacant lot, potential building site or build a storage building on this lot if you own a residence in the subdivision. Lot is approximately 65ftx240ft

Tract 4: Detached storage building with 3 overhead doors, great for workshop & hobbies. Or if you own a home in the subdivision, & have been wanting that extra space for parking or storage, donftt miss this rare opportunity. The storage building may be purchased with any other Tract, but if it is not purchased with the home on Tract 1 or by a homeowner in the subdivision, the buyer agrees to start construction of a new home within one year after closing as directed by the Noble County Plan Commission. Lot is approximately 75ftx235ft.

Tract 5: 2± ac Build your new home on this large tract with lake views or, if you live in the subdivision, build a storage building & have plenty of room for extra parking.


AREA MAP

TRACT MAP(S)

AREA MAP(S)

PROCEDURE: Bid on individual tracts, any combination of tracts or on the entire property. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. The property will be sold in the manner resulting in the highest total sale price.

BUYERS PREMIUM: 5% Buyers Premium.

DOWN PAYMENT: 10% of the accepted bid as down payment on the day of the auction with balance in cash at closing. The down payment may be in the form of cash, 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.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection. Purchase agreements will be signed by the registered bidder only. If you choose to share the purchase with another party, you will be required to do so after the completion of closing as indicated on the signed purchase agreement.

DEED: Sellers will provide a warranty deed.

EVIDENCE OF TITLE: Sellers will provide title insurance in the amount of the purchase price.

CLOSING: Closing shall take place within 30 days of proof of marketable title. Sellers shall not be responsible for any closing costs incurred due to the Buyer(s) securing financing.

POSSESSION: At closing

REAL ESTATE TAXES: Taxes will be pro-rated to the day of closing

DITCH ASSESSMENTS: The Buyers shall pay any ditch assessments due after closing if any.

SURVEY: Buyer and Seller to share survey costs of Tract 1, 50:50.

EASEMENTS: The sale of the property is subject to any and all easements of record.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an 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. No guarantee as to location of septic and well, or condition of septic and well is made by the Auction Company, its agents or Sellers. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, 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. All sketches and dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and 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, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and 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 MA