LAND AUCTION - 228.5+/- ACRES OFFERED IN 6 TRACTS IN NEWTON COUNTY, INDIANA

Brook & Morocco, IN - Newton County, IN

Owner: Owners: TR 1-3: Cross Living Trust (Dated 2/13/01) & Estate of Victoria Anne Richardson
TR 4-6: Suzanne Rae Best, Michael Lloyd Best, Susan Mea Paschall, Jennifer O'Neill & Timothy Shane O'Neill
Tue, Feb 28, 5:00 PM CENTRAL

• Productive Soils • Highly Tillable Tracts • Farm A - 158.5+/- Contiguous Acres • Farm B - 70+/- Contiguous Acres • Investigate for Potential Home Sites • Some Grassland/Habitat Offers Hunting Opportunity • Farm A: 2+/- Miles Northeast of Brook, IN • Farm B: 3.5+/- Miles Southwest of Morocco, IN

Bidding will not be allowed on any tract combination that includes all or any part of Farm A combined w/ all or any part of Farm B


OPEN HOUSE/INSPECTION DATES

Tuesday, February 7th from 2-4PM (CST)
Wednesday, February 15th from 2-4PM (CST)

Meet a Schrader Representative at Tract 1 on CR 700 S

PROPERTY LOCATION

Farm A (Tracts 1-4): From downtown Brook at the intersection of SR 16 & Highway St (CR 150 E), go north on Highway St (CR 150 E) for 2 mi. to CR 700 S. Go east on 700 S for 1/2 mi. to Tract 4 on the north side of the road. Continue east to Tracts 3, 2 & 1.
Farm B (Tracts 5 & 6): From east of Morocco at the junction of US 41 & SR 114, go west on CR 400 S (Michigan) approx. 4 1/4 mi. to CR 650 W. Go south on 650 W for approx. 1 mi. to Tract 5 on the east side of the road. To Tract 6 continue south to CR 550 S. Go east on 550 S 1/2 mi. to CR 600 W. Go north on 600 W for .3 mi. to Tract 6 on the west side of the road.

AUCTION LOCATION

Beaver Township Community Center
409 South Polk St, Morocco, IN 47963
From east of Morocco at the junction of US 41 & SR 114, go west on Michigan (CR 400 S) approx. 3/4 mi. to Polk St. Turn north on Polk St & travel 1/8 mi. to auction site on your right. The Beaver Township Community Center adjoins the fire station.

PROPERTY DESCRIPTION

FARM A:

Tract 1: 40+/- ac Productive farmland w/ 3.6+/- acres of grassland (cropland per FSA) in the northeast corner. Investigate for hunting potential. There is no crossing over the ditch on the property to access the land northeast of the ditch. Frontage on CR 700 S.
Tract 2: 73+/- ac Productive farmland, all tillable except road. Frontage on CR 700 S.
Tract 3: 0.5+/- ac Investigate as a potential building site. Contact the Newton County Building Department for setback requirements. The property has been farmed. Frontage on CR 700 S.
Tract 4: 45+/- ac Productive farmland that is all tillable except road. Frontage on CR 700 S.

FARM B:
Tract 5: 46+/- ac Productive farmland w/ 44.25 cropland acres per FSA. Investigate for a potential home site w/ a great view. Frontage on CR 650 W & CR 600 W.
Tract 6: 24+/- ac Productive farmland w/ 23.04 cropland acres per FSA. Frontage on CR 600 W.

TRACT MAP(S)

Farm A: Tracts 1-4

Farm B: Tracts 5-6

AREA MAP(S)

PROCEDURE: Farm A (Tracts 1- 4) will be offered in 4 individual tracts, any combination of tracts & as a total 158.5+/- acre unit. Farm B (Tracts 5 & 6) will be offered in 2 individual tracts & as a total 70+/- acre unit. Bidding will not be allowed on any tract combination that includes all or any part of Farm A combined w/ all or any part of Farm B. There will be open bidding on all tracts & permitted combinations during the auction as determined by the Auctioneer. Bidding on individual tracts will compete w/ bidding on permitted tract combinations.

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 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/Personal Representative's Deed/Trustee's 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, & 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 approx. 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment & Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) & Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession is at closing.

REAL ESTATE TAXES: Seller shall pay all 2022 real estate taxes due & payable in 2023. Buyer(s) shall assume any taxes thereafter. Buyer(s) shall assume any ditch & drainage assessments due after closing.

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

SURVEY: A new survey shall be obtained for each closing except that, if Farm B is sold as an entire unit, a new survey of Farm B shall be obtained if & only if a new survey is required by the local officials to record the conveyance or Seller otherwise determines a survey is appropriate. The survey shall be sufficient for the purpose of recording the conveyance, but the type of survey shall otherwise be determined solely by Seller. Any survey of adjacent tracts purchased in combination will show the perimeter boundaries of the surveyed land but need not show interior tract boundaries, except that Tract 4 shall be surveyed as a separate tract regardless of whether Tract 4 is purchased in combination w/ adjacent tract(s). Survey costs will be shared equally (50:50) between the Buyer & Seller at each closing. The purchase price will be adjusted proportionately to reflect any difference between the pre-auction acre estimates & the surveyed acres (except for Tract 3, if sold by itself).

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.

EASEMENTS: Subject to any & all existing easements.

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

DISCLAIMER & ABSENCE OF WARRANTIES: All info 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 approx.. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The info 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.