AUCTION IS OVER

• Productive Tillable Land • Potential Commercial Sites • Frontage on SR 8 & SR 3 • Potential Wooded Building Sites • Spring Fed Pond • Adjacent to Noble Hawk Golf Course • Tracts from 4 Acres to 18 Acres • Development & Investment Potential • 13,000 Average Daily Traffic Volume

OPEN HOUSE/INSPECTION DATES

Thursday, September 1st, 4-6PM

Meet a Schrader representative on Tract 1.

PROPERTY LOCATION

At the intersection of SR 8 & Hwy 8 just 2 miles north of Avilla.
2+/- Miles North of Avilla
3+/- Miles South of Kendallville
20+/- Miles North of Fort Wayne

AUCTION LOCATION

At St. Marys Elementary School, 232 North Main Street, Avilla.
From the intersection of Albion Street and Main Street, downtown Avilla, travel north on Main Street (Old SR 3) 1/4 mile to the school on the east side of the road.

PROPERTY DESCRIPTION

Exciting potential for development with 1,400 feet of Hwy 3 frontage - frontage on both the east and west corners! City water and sewer along the north side of Tract 5!

Beautiful country setting with commercial potential and productive tillable land. In the Schrader Method of Auction, you can bid on any tract, combination of tracts or the whole property in the manner that fits your needs. Just a short drive to Fort Wayne, Kendallville, Avilla or Albion.

AUCTIONEERS NOTE: Hwy 3 is limited access in this area. Property is zoned agriculture and is within the Kendallville Zoning Jurisdiction. Survey work is available. Contact the Sale Manger for more information.

TRACT DESCRIPTIONS

Tract 1: 5± ac potential commercial lot with excellent visibility from SR 8 and Hwy 3 on the intersection. Imagine the possibilities.

Tract 2: 10.5± ac Mostly tillable with frontage on SR 8 and Hwy 3. Mostly Morley and Rawson soils.

Tract 3: 9± ac Potential building site with approx. 4 acres of woods. Potential pond site. Picture your dream home here. A country setting close to Fort Wayne.

Tract 4: 13.1± ac All tillable. Mostly Morley and Wallkill soils.

Tract 5: 18± ac Mostly tillable. Mostly Blount and Morley soils. Easement access from CR 350N. Future residential development potential! Adjacent to Noble Hawk Golf Course.

Tract 6: 6.7± ac High corner with great visibility from the SR 8 and Hwy 3 Intersection. Small spring fed pond.

AREA MAP

TRACT MAP(S)

Tract map - Land Auction - 62 Acres in 6 Tracts. Productive Tillable Land, Potential Commercial Sites, Investment Potential

AREA MAP(S)

Area map - Land Auction - 62 Acres in 6 Tracts. Productive Tillable Land, Potential Commercial Sites, Investment Potential

AUCTION TERMS & CONDITIONS

PROCEDURE: The property will be offered in 6 individual tracts, combinations of tracts and as a total 62-acre unit. There will be open bidding on tracts, combinations and the total during the auction as determined by the Auctioneer. Bids on individual tracts, tract combinations and the total property may compete. DOWN PAYMENT: 10% down payment on the day of the auction. 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, 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 auction site immediately following the close of the auction. All final bid prices are subject to the Sellers' 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(s).

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 administered closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession will be at closing subject to the farm tenant's rights to harvest 2011 crop. REAL ESTATE TAXES: Real estate taxes will be the responsibility of the Buyer(s) beginning with taxes due in May 2012 and thereafter. PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquires and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims 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.

ACREAGE: All tract acreages, 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 new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. 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 Seller's option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Sellers. 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.