• Productive Tillable Land • Excellent Quality Soils • 2 Wind Turbines for Additional Income • Southeast of Chicago
Benton County Land Auction
Fowler, IN
Owner: Leo R. Glotzbach, TTEE Tue, Nov 16, 2010 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Saturday, October 23
10AM-12 Noon EST
PROPERTY LOCATION
Fowler, IN - From the intersection of US 52 & SR 18, take SR 18 approximately 1 mile east of CR 200 E, the property will be on the north side of SR 18.
AUCTION LOCATION
American Legion Post. At the corner of 400 & 5th in Fowler, Indiana.
PROPERTY DESCRIPTION
Property Information: This 151.74 acre tract of land is in an excellent farming community with some excellent quality soil. This tract is all tillable except for the grass waterway easement to the wind turbines and road frontage. This tract offers 2 wind turbines for additional income.
CRP:
1.7 Ac. @ $335/yr expires 9-30-2012
1.6 Ac. @ $315/yr expires 9-30-2014
CRP payments will be pro-rated to day of recording deed.
Wind Turbine Information:
BP Wind Energy North America
Effective Date 11-26-2007
Term - 35 years plus possible (2) 10 year terms
The new owner will receive the June 30, 2011 income and thereafter.
This farm is also signed up for the Fowler Ridge-Avian Studies:
Effective Date - April 6, 2010
Term - 2 years
The new owner will receive the April 2011 payment
TRACT DESCRIPTIONS
Tract 1: 151.7± ac An excellent farming community with some excellent quality soil. This tract is all tillable except for the grass waterway easement to the wind turbines and road frontage. This tract offers 2 wind turbines for additional income.
EQUIPMENT & PERSONAL PROPERTY
Wind Turbines
AREA MAP
TRACT MAP(S)
SOIL INFORMATION
AUCTION TERMS & CONDITIONS:
PROCEDURE: The property will be offered as a total 151.74 acre unit.
DOWN PAYMENT: 10% down payment on the day of auction. The down payment may be made in the form of cashier' 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 PRICE: The successful bidder will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction. The final bid price is subject to the Seller's 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.
CLOSING: The balance of the purchase price is due at closing, which will take place within 15 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer and Seller.
POSSESSION: Possession is at closing. Immediate possession is available with an additional 10% down payment.
REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer beginning with taxes due for 2011 payable in 2010 and any ditch taxes due in May 2011 and thereafter.
ACREAGE: All acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal description and/or aerial photos.
SURVEY: A new survey will be ordered only if needed for good title insurance policy and the cost of the new survey will be split 50:50 between buyer and seller.
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.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.
None at this time
