LAND AUCTION - 202+/- ACRES OFFERED IN 11 TRACTS IN MARSHALL COUNTY, INDIANA

5830 Gumwood Rd, Bremen, IN 46506 - Marshall County, IN

Owner: Fredric J. Eby Trust Wed, Oct 26, 6:00 PM EASTERN

• Tillable Land & Woods • Building Sites • Home & Grain Bins • Tracts Ranging from 3+/- to 52+/- Acres • 20+/- Miles South of South Bend • 10+/- Miles Northeast of Plymouth • 5+/- Miles South of Bremen


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Monday, September 19th from 3-5pm
Saturday, October 1st from 10-Noon
& Tuesday, October 11th from 2-4pm

Meet a Schrader Representative at the home on Tract 7 (5830 Gumwood Rd, Bremen, IN 46506)

PROPERTY LOCATION

5830 Gumwood Rd, Bremen, IN 46506
Tracts 8-11: From the intersection of SR 331 & 6th Rd, 5 mi. north of US 30, travel west on 6th Rd 3 mi. to the property.
Tracts 5-7: From Tracts 8-11, continue west on 6th Rd to Gumwood Rd. Travel north on Gumwood to the tracts.
Tracts 1-4: From Tracts 8-11, continue west on 6th Rd to Grape Rd. For Tracts 1 & 2, turn South on Grape, & for Tracts 3 & 4, turn north on Grape.

AUCTION LOCATION

St. Paul's Lutheran Church, 605 S Center St, Bremen, IN 46506
From downtown Bremen at the stop light on SR 106 & Center St, turn south .4 mi. to church on the west side of Center St.

TRACT DESCRIPTIONS

Tract 1: 10.5± ac at the northwest corner of Grape & 6A Rds w/ 660ft +/- frontage on each road. Excellent Rensselaer cropland soils & is an approved homesite by the County Building Department.

Tract 2: 10± ac w/ 660ft+/- frontage on 6A Rd. Consider combining w/ Tract 1 for 20.5+/- acres of high quality cropland.

Tract 3: 8± ac potential homesite or farmette. Frontage on both Grape & 5C Rds.

Tract 4: 13± ac potential homesite. Imagine the possibilities! Combine w/ Tract 3 for a total of 21+/- acres of very productive farmland bordered by the Yellow River to the north.

Tract 5: 52± ac of productive German Township cropland. Frontage on Gumwood & 5B Rds.

Tract 6: 20± ac of woodland w/ large native hardwood trees & plentiful wildlife. Access from Gumwood Rd (does not include the private drive to the north).

Tract 7: 3± ac farmstead including the 3 bedroom/2 bath 2,028+/- sq. ft. ranch home on a full basement. Built in 1976 w/ large country kitchen, indoor charcoal fired grill, wood cabinets, field stone fireplace, LP gas furnace, central air, w/ a one stall attached garage. The property also includes the 50ft x 80ft pole barn built in 1989 w/ 14ft x 24ft door, (2) 30ft 9-ring 20,000 bu GSI grain bins, (1) 27ft 12-ring 15,500 bu, (1) 27ft 10-ring 12,000 bu, (1) Superior 24ft 7-ring 5,500 bu w/StirAtor dryer plus continuous flow GSI dryer & 5,000 bu wet holding bin for a total of 73,000 bushel grain storage (5830 Gumwood Rd, Bremen, IN).

Tract 8: 48± ac of cropland w/ road frontage on 6th Rd.

Tract 9: 22.5± ac mostly tillable w/ drainage ditch along the east side & frontage on 6th Rd. Consider as a potential homesite or combine w/ Tract 8 for a total of 70.5+/- acres of cropland.

Tract 10: 6± ac tillable w/ frontage on 6th Rd. Consider the opportunity for a great country home site.

Tract 11: 9± ac tillable w/ frontage on Filbert Rd. Great potential for a rural home site & small farm. Combine w/ Tract 10 for a total of 15+/- acres w/ drainage ditch in-between.

TRACT MAP(S)

Tracts 1-11

AREA MAP(S)

PROCEDURE: The property will be offered in 11 individual tracts, any combination of tracts & as a total 202+/- acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. The auction will be offered in individual tracts, combinations of tracts, & as a whole.

BUYER'S 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, & 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 targeted closing date will be approximately 30 days after the auction.

POSSESSION: Possession is at closing, subject to the harvest of the 2022 crop. Possession of the grain bins shall be on or before June 2, 2023.

REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning w/ taxes due in 2024 & thereafter.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, 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. Further, Seller disclaims any & 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, & proposed boundaries are approximate & 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 & 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 & sufficient for providing title insurance. Combination purchases will receive a perimeter survey only. Certain tracts in this auction may require new surveys on existing parcels. Contact Auction Manager w/ questions.

AGENCY: Schrader Real Estate & Auction Company, Inc. & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & 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 & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & 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.