AUCTION IS OVER

• Over 4 Miles of Lake Russell Corp Frontage • Great Fishing, Hunting & Recreation • Great Investment Opportunity • Potential Building Sites • Beautiful Shoals • River Frontage • Tracts 12-23: Just 15+/- Miles Northwest of Athens & 40+/- Miles Northeast of Atlanta, Georgia • • Financing Available: Up to 85% financing by AgSouth to qualified applicants.

OPEN HOUSE/INSPECTION DATES

Auction representatives will be at the lodge on Tract 1, the home on Tract 14 and near the pond on Tract 17 on the following dates/times:
October 15 from 2PM- 5PM
October 16 from 9AM - 12 Noon
October 29 from 2PM - 5PM
October 30 from 9AM - 12 Noon

PROPERTY LOCATION

Click to Download Property Location Map
Hart & Elbert Counties: Tracts 1- 11: (to lodge on Tract 1) From the intersection of GA-8 / US29 and GA-181, 6 miles east of Hartwell, turn southeast on GA-181 and travel 2 miles to GA Spur-77. Turn southwest on GA Spur-77 and travel 1 mile to Lazy B Dr. Turn southeast on Lazy B Dr. and travel 3/4 mile to the property.

Jackson County: Tracts 12- 16: From the intersection of GA-11 and Old Winder/Jefferson Hwy., approx. 6 miles northeast of Winder, travel east on Old Winder/Jefferson Hwy. 1/2 mile to the intersection of Old Mill Rd. and the property.

Barrow County: Tracts 17 - 23: From the intersection of GA-11 and GA-211, approx. 3 miles northeast of Winder, travel east on GA-211 for 3 miles to Finch Rd. Turn north on Finch Rd. and travel 1 mile to the property.

AUCTION LOCATION

Commerce Civic Center, 110 State St., Commerce, GA. 706-335-6417. From the intersection of I-85 and GA-98/Maysville Rd (Exit 147), travel southeast toward Commerce 3+/- miles to Central Ave. Turn left on Central Ave and travel 1 block to State St. Turn right on State St. and the Civic Center is on the right.

PROPERTY DESCRIPTION

Hart & Elbert Counties:
Tracts 1-11: 252+/- acres in Elbert County and 985+/- acres in Hart County. The property lies mostly southeast of the convergence of Big Cedar Creek and Lake Richard B. Russell, with corp frontage along the western shore of the lake. Approximately 20 miles northwest of I-85. There is significant pine and hardwood timber on the property, gravel roads, a recently constructed lodge with shop area and living quarters.

Tracts 12-16: 221+/- acres in Jackson County with the home and outbuildings, potential building sites, wooded recreational land, pasture land and frontage on the Mulberry River. Located between Winder and Jefferson, just minutes from I-85 any beyond.

Tracts 17-23: 117+/- acres located in Barrow County including a 3+/- acres pond and road frontage on 3 sides. Come inspect the rolling grassland and woods. Lots of potential here for future homesites!

Lake Russell Information:
Lake Russell is located in the Piedmont region of Georgia and South Carolina on the upper Savannah River. Lake Russell boasts great fishing with both cold and warm water fisheries. The entire area offers great recreation, fishing, scenery and wildlife. Several National Bass Tournaments are hosted here annually.

HISTORY:
In the early 1980's, the U.S. army Corps of Engineers (COE) started building the 1,884-foot long dam that created Lake Russell. In 1984, the lake was opened to the public. The lake's primary functions include flood control, hydroelectric power generation and recreational opportunities.
There are numerous Corp of Engineer facilities, private marinas and campgrounds found on the shores of Lake Russell. Most are designed to cater to the fisherman, as fishing is the primary activity on the lake. The lake is part of the Savannah River and situated between Lake Hartwell to the north and Clarks Hill Lake to the south.

LAKE PROFILE:
Size and Depth - 26,653 acres with a summer pool elevation of 475 feet above seal level. At full pool, the lake averages 39 feet with a maximum depth of 154 feet.
Water Source - Primary inflow is from the Savannah River. Other significant inflows include Beaverdam Creek and Rocky River.
Shoreline - 540 miles of undeveloped shoreline, consisting of mixed pine and hardwood forested uplands.

FISHERY:
Featured Species - Largemouth Bass, Black Crappie
Other Species - Bluegill, Channel Catfish, Rainbow Trout, Brown Trout, Redear Sunfish, Yellow Perch, White Perch, Striped Bass
Comment - The largemouth bass population is stable. A 14-inch, 1-1/4 pound fish is considered average. Fish in the 5-pound range are common and there is a good population of fish over 8 pounds.
Crappie receive the second most attention from anglers on the lake. Numbers tend to fluctuate in cycles typical of most crappie populations. Fish over 1-pound are common, but the average length is 9 inches weighing 1/2 pound.
Seasonal Movements - A small population of striped bass that were trapped in the lake prior to impoundment or that have migrated from Lake Hartwell make runs uplake during May.
Stocking - Approximately 25,000 rainbow trout are stocked annually by both states. Browns are occasionally introduced.
Up to 85% financing by AgSouth to qualified applicants. Please call Ricky Cochran in the Madison office at 706-342-2352 for more information.

Property description map - 1,575+/- Acres Offered in 23 Tracts

AREA MAP

TRACT MAP(S)

Tract map - 1,575+/- Acres Offered in 23 Tracts

AREA MAP(S)

Area map - 1,575+/- Acres Offered in 23 Tracts

PROCEDURE: The property will be offered in 23 individual tracts and as any combination of tracts within the 3 properties. There will be open bidding on all tracts and combinations during the auction. Bids on tracts and tract combinations may compete.

DOWN PAYMENT: 10% down payment on the day of auction with the balance at closing. If the bidder pre-registers with the Auction Company on or before Monday, November 8, then cash or a personal check will be accepted for the down payment (contact Auction Company for a pre-registration form or visit www.schraderauction.com.) If the bidder does not pre-register, a bank letter of credit or guarantee will be required with a personal check, OR bidder must present a $5000 cashier's check with a personal check for the balance of the down payment on auction day. 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: 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 Seller's acceptance or rejection and any existing first right of refusal by prior Owner(s).

DEED: Seller shall provide Warranty Deed.

EVIDENCE OF TITLE: The Seller agrees to furnish Bidders preliminary title abstracts to review prior to auction. The cost of title insurance, if the Buyer(s) elect to have title commitments executed, will be the responsibility of the Buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold "AS IS".

REAL ESTATE TAXES: Taxes for 2010 will be paid by the Seller at closing.

BUYER'S PREMIUM: A 10% Buyer's Premium will be added to the final bid price and included in the total purchase contract.

CLOSING: Closing shall take place 30 days after the auction, or as soon thereafter as applicable closing documents are completed.

POSSESSION: Possession of the property shall be given immediately upon closing other than the home on Tract 13 where possession will be either 30 days after the auction or at closing, whichever is later.

SURVEY: A new survey will be ordered for each tract or tract combination in the auction where there is no existing legal description. Actual survey expense will be the responsibility of the Buyer.

USE OF LAKE RUSSELL SHORELINE (Tracts 1-3+8-11): The US Army Corps of Engineers (COE) manages the boundary with landowners around the lake and does not permit privately-owned boat docks, launching ramps, driveways, gardens, buildings, developed walkways, vista clearings, under-brushing, mowing, and other private lakeshore uses. There is no prohibition against pedestrian use of any public property at the lake in this area. Adjacent landowners have the right accorded to any other member of the public, plus a private access point from their property to public land and water. For more information visit http://www.sas.usace.army.mil/lakes/russell/

PLANNING APPROVAL: The sale of all tracts is subject to any necessary county planning approval or other necessary county approval. Any construction on the property may require county approval.

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 and Auction Company disclaim 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.

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.

NEW DATA, CORRECTIONS, AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.

OWNER: AgSouth Farm Credit, ACA