AUCTION IS OVER

PROCEDURES: The property will be offered in 7 individual tracts, any combination of tracts, or as a total 74+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete.

DOWNPAYMENT: Real Estate 10% down payment on the day of the 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: Successful bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. This is an ABSOLUTE Auction. Property(s) will be sold to the HIGHEST BID REGARDLESS OF PRICE.

EVIDENCE OF TITLE: Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters. All tracts sold AS-IS. Seller will provide an Owners Title Insurance Policy.

DEED: Seller(s) shall provide a Warranty Deed at closing.

CLOSING: The balance of the real estate purchase price is due at closing, which will take place within 15 days of presentation of title policy projected to be 30 days or on or before November 14th.

POSSESSION: Possession will be delivered at closing.

REAL ESTATE TAXES: Buyer to assume the tax payment due and payable in May of 2013. Taxes based on 2010 assessment were Tract 1-4= $1,398.38; Tract 5= $ 1,918.74/yr.; Tract 6= $ 971.66 yr.; Tract 7= $65.04 yr.

ACREAGE: All boundaries are approximate and have been estimated based on current legal descriptions.

SURVEY: A new survey will be made where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Buyer(s) and Seller will share survey expense 50:50. Combination purchases will receive a perimeter survey only. Closing prices will be adjusted to reflect any differences between advertised and surveyed acreages. No adjustments will be made on Tract 3 or Tracts purchased in combination with Tract 3.

FSA INFORMATION: Farm #6637 Tract 30090. The FSA calls for 49.69 Crop Acres. The Direct Annual payment for 2012 was $944.

EASEMENTS: Sale of the property is subject to any and all easements of record.

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller.

AGENCY: Schrader Real Estate and 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 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, 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers and Selling Agents reserve the right to preclude any person from bidding if there is any question as the persons credentials, fitness, etc. All decision of the Auctioneer is final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. AUCTION COMPANY OR OWNER NOT RESPONSIBLE FOR ACCIDENT.

Auction Brochure

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