AUCTION IS OVER

TOTAL SOLD: $1,910,000

Tract(s): 1-3

@ $1,910,000

($9,795/acre)

Own land nearby? These are real results from this sale, not estimates. Ask Jerry Ehle, who managed this auction, what your land would bring in today's market. There is no obligation.

Ask about my land or call 800-451-2709

• Gerig Land Auction
• 195 Acres Offered in 3 Tracts
• Jackson Township Sections 9 & 18
• Quality Tillable Land
• Online Bidding Available

OPEN HOUSE/INSPECTION DATES

Monday, July 7 from 5-7PM

PROPERTY LOCATION

JACKSON Twp., SECTIONS 9 & 18
Tracts 1 & 2 - 155 Acres, 23928 Dawkins Rd., Woodburn
Tract 3 - 40 Acres, 3000 Block of SR 101 1 mi. south of Dawkins Rd.

AUCTION LOCATION

WOODBURN COMMUNITY CENTER
22651 Main Street @ The Firestation

TRACT DESCRIPTIONS

Tract 1: 82± ac ALL TILLABLE LAND. This tract has nearly 750 feet of road frontage along Dawkins Road and nearly 1500 feet of frontage along Rorick Road. The Soils are all Hoytville Silty Clay.

Tract 2: 73± ac ALL TILLABLE LAND. This tract has over 1000 feet of road frontage along Dawkins Road and 1/2 mile frontage on Morgan Road and over 1000 feet of frontage along Rorick Road. The Soils are mostly Hoytville Silty Clay with a couple of pockets of Nappanee Silty Clay.
The Buyer(s) of Tracts 1 and 2 shall reimburse Dean Gerig the amount of $285 per acre for input costs for the 2014 crop. This shall be done at closing.

Tract 3: 40± ac ALL TILLABLE LAND. This tract has nearly 1300 feet of road frontage along SR 101. The Soils are all Hoytville Silty Clay.
Buyer of Tract 3 shall receive 50% of the Landlord ft.s share of the cash rent on 40 acres. Payment shall be made by Tenant Farmer on December 1, 2014.

ONLINE BIDDING AVAILABLE: 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 Kevin Jordan at Schrader Auction Co. - 800-451-2709.

AREA MAP

TRACT MAP(S)

Tract map - LAND AUCTION, 195 Acres Offered in 3 Tracts, Quality Tillable Land

SOIL INFORMATION

Soil map - LAND AUCTION, 195 Acres Offered in 3 Tracts, Quality Tillable Land

PLAT MAP(S)

Plat map - LAND AUCTION, 195 Acres Offered in 3 Tracts, Quality Tillable Land

AREA MAP(S)

Area map - LAND AUCTION, 195 Acres Offered in 3 Tracts, Quality Tillable Land

PROCEDURE: The property will be offered in 3 tracts, and the combinations of the 3 tracts. There will be open bidding on all tracts and the combinations during the auction as determined by the Auctioneer. Bids on each tract, and the total property may compete.

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

ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auctions site immediately following the close of the auction. Seller reserves the right to reject any and all bids.

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

DEED: Seller shall provide General Warranty Deed(s).

CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the auction. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession will be after closing on Tracts 1 and 2 and subject to tenant farmers 2014 crop on Tract 3.

REAL ESTATE TAXES: The Real Estate taxes shall be pro-rated to the day of closing. Buyer shall pay any ditch assessments due and payable in 2012. ACREAGE: All tract acreage, 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 the tract divisions in this auction create new boundaries. Solely the Seller shall determine any need for a new survey. 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 Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC. 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 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. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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 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 MADE.