LAND AUCTION - 253+/- ACRES OFFERED IN 10 TRACTS IN NOBLE COUNTY, INDIANA

Albion, IN - Noble County, IN

Owner: Estate of Bud F Edsall Wed, Oct 12, 6:00 PM EASTERN

• Mix of tillable acreage, woods, and pasture • Heavy Deer Traffic- Tremendous Hunting Opportunities • 3 Different Farms, two being off SR 8 and SR 9 • Potential Building Sites • Tracts Ranging from .231 +/- acres to 61 +/- acres in size


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Tuesday, September 27th from 3PM-5PM
Saturday, October 1st from 10AM-12PM
Meet a Schrader Representative at Tract 9.

PROPERTY LOCATION

Tracts 1-4 are located 1/4 mile east of 150 E. on the north side of SR 8.
Tracts 5-6 are located in the Southwest corner of 150 E. and 400N.
Tracts 7-8 are located in the Northeast corner of SR 9 and 400 N.
Tract 9 is located about 1/4 mile north of 400 N on SR 9.
Tract 10 is located on E Seneca Street. From the intersection of SR 8 and SR 9 take SR 8 west for a quarter of a mile, then head south on S 1st St. Once the road turns into E Seneca Street follow the road around the curve to the west and the property will be on your left.

AUCTION LOCATION

The Lodge at the Noble County Fairgrounds: 589 Fair St, Kendallville, IN 46755

PROPERTY DESCRIPTION

The Edsall Farm offers a great mix of tillable land, woods, and pasture creating a unique opportunity for bidders to come bid their price on the land type that best suits their desires. Several of the tracts contain a gentle rolling topography and woods creating beautiful potential building sites. The city of Albion has indicated they are open to running city water and sewer to any of the tracts if a new owner desires. Don't miss this diversified land offering in Northeast Indiana!

TRACT DESCRIPTIONS

Tract 1: 26± ac of nearly 100% tillable farmland containing a high percentage of Milford silty clay loam soils. Easy access from SR 8. Consider combining with Tracts #2 and #3 for larger amounts of tillable acreage.

Tract 2: 12.5± ac bordered by a drainage ditch on the north and east sides. Consider combining with Tracts 1, 3, or 4. Great potential building site.

Tract 3: 61± ac Swing Tract: of beautiful hunting land plentiful with wildlife, and tillable acreage. The property can be purchased by an adjoining land owner OR combined with Tracts 1, 2, or 4 to gain road frontage. If purchased solely in combination with Tract 1, the new owner will have to put in a culvert to gain access across the ditch.

Tract 4: 22± ac with road access to SR 8. Good hunting land with a mix of woods and tillable acreage and approx. 75ft wide access onto SR 8.

Tract 5: 31± ac of majority tillable farmland with road access from both CR 125 and CR 150.

Tract 6: 27± ac of majority tillable farmland that has road access from 3 sides creating for great possible build sites.

Tract 7: 15± ac of a good mix of tillable land and woods creating solid hunting opportunities. The gentle roll of the topography creates for a beautiful potential homestead. If the new owner desired for development purposes, the property could possibly be annexed into the city of Albion.

Tract 8: 33± ac comprised of grassland for possible grazing opportunities along with tillable acreage. If the new owner desired for development purposes, the property could possibly be annexed into the city of Albion.

Tract 9: 25.5± ac of grassland with possible grazing or hay opportunities. Tract also has a 24ft x 250ft chicken barn and property has direct road access to SR 9.

Tract 10: 0.2± ac within Albion City Limits. Utilities available. Great homesite potential in town.

TRACT MAP(S)

Tracts 1-4

Tracts 5-6

Tracts 7-9

AREA MAP(S)

PROCEDURE: The property will be offered in 10 individual tracts, any combination of tracts and as a total 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.

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 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.

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

DEED: Seller shall provide Warranty Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place on or before 30 days after the auction, or as soon thereafter as applicable closing documents are completed by the Seller. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Subject to removal of the 2022 crop.

REAL ESTATE TAXES: Seller to pay taxes for the 2022 calendar year due and payable in 2023 by giving the buyer(s) a credit at closing.

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.

ACREAGE: All tract acreages, 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 new boundaries are created by the tract divisions in this auction. 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. Combination purchases will receive a perimeter survey only.

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.