LAND AUCTION 121+/- ACRES OFFERED IN 3 TRACTS IN EAST ALLEN COUNTY, INDIANA

Woodburn, IN - East Allen County, IN

Owner: Delana R. Levy Limited Partnership & Levy Family Trust Mon, Jan 30, 2023 EASTERN

AUCTION IS OVER

• Prime Productive Tillable Land

ONLINE BIDDING AVAILABLE You may bid online during the auction at bid.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. Contact Schrader Auction Company at 800-451-2709 with questions.


OPEN HOUSE/INSPECTION DATES

Monday, January 23 from 4:00-6:00pm
Meet Schrader representative along Tract 1
Call auction manager with questions.

PROPERTY LOCATION

21626 Edgerton Rd, Woodburn, IN
Located at the Southeast corner of SR 101 and Edgerton Rd, Jackson Township.

AUCTION LOCATION

Woodburn Community Center
22731 Main St, Woodburn, IN

TRACT DESCRIPTIONS

Tract 1: 40± ac Located along SR 101 and Edgerton Rd, with the county ditch run along the entire length on Edgerton Rd. Soils are mostly Hoytville silty clay with some pockets of Nappanee silt loam. There is approximately 655 feet along SR 101 and over 2,650 feet along Edgerton Rd.

Tract 2: 40± ac Located adjacent to the south of Tract 1 with approximately 655 feet of road frontage along SR 101. Mostly Hoytville silty clay with some pockets of Nappanee silt loam soils.

Tract 3: 41± ac Located adjacent to the south of Tract 2 with approximately 700 feet of road frontage along SR 101. Soils are mostly Hoytville silty clay with a few acres of Nappanee silt loam.

TRACT MAP(S)

SURVEY INFORMATION

AREA MAP(S)

PROCEDURE: Tracts 1-3 will be offered in individual tracts, and in any combination of these tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. The property will be bid in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% Cash down payment at close of auction. Cash or cashier's check or a personal or corporate check immediately negotiable is satisfactory for the down payment. 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: At the close of the auction, Buyer(s) will be required to execute an Agreement to Purchase Real Estate and Addendum. Seller reserves the right to reject any and all bids. The terms of this agreement and addendum are nonnegotiable.

DEED: Seller shall provide a TRUSTEE'S deed and Owner's Title Insurance Policy.

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

CLOSING: Balance of purchase price is due in cash at closing, which will take place on or before March 3, 2023. The cost for an insured closing will be shared 50/50 between Buyer and Seller.

POSSESSION: J. Malfait Farms will be the Tenant Farmer for the 2023 Crop year. Buyer may choose to close in 45 days after the closing and receive the 60/40 crop share from J. Malfait Farms . . . OR Buyer may choose to deposit earnest money the day of the auction and not close until first of November 2023.

REAL ESTATE TAXES: The Seller shall pay the 2022 Real Estate taxes due in 2022 and the Buyer(s) shall pay all thereafter.

DITCH ASSESSMENTS: Buyer shall pay all ditch assessments due after closing.

ACREAGE: All acreage is approximate and has been estimated based on current legal descriptions and/or aerial photos.

SURVEY: A new perimeter survey shall be provided prior to the auction. Any need for any other survey will be determined solely by the Seller. The cost of the survey will be split 50/50 between Buyer and Seller. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres.

EASEMENTS: All real estate is being sold subject to any existing recorded easements. Existing recorded leases, if any will be assigned to the Buyer.

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. Your bids are to be based solely upon your inspection. All real estate is sold "as is" without physical warranty. Seller and agent are not assuming any responsibility for warranty of any specific zoning classifications, location of utilities, assurance of building permits, driveway permits or water and septic permits. Tract acreage has been estimated based on aerial photographs. 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. 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 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.