323+/- Acres Offered in 7 Tracts with 282+/- FSA Tillable Acres

Saginaw County, Michigan

Owner: Gerken Farms, LLC
Administrator: Janet Shaver Mon, Dec 5, 2011 EASTERN

AUCTION IS OVER

• Prime Farms Soils • Great Area with Development Potential

OPEN HOUSE/INSPECTION DATES

Wednesday, November 16, 3:00-4:30
Monday, November 21, 10:00-11:30
Meet with Schrader representative at tract 1.

PROPERTY LOCATION

TRACT 1: W9000 Geddes Rd. and Kennely Rd. Sec 22 Thomas Township
TRACT 2: W10000 Geddes Rd. Sec 21 Thomas Township
TRACTS 3,4: W11000 Frost Rd. Sec 17 Thomas Township
TRACT 5: W10000 Tittabawassee Rd. Sec 33 Tittabawassee Township
TRACT 6: W13000 Dice Rd. and N. Orr Rd. Sec. 12 Richland Township
TRACT 7: N3000 Pruess Rd. Sec 12 Richland Township

AUCTION LOCATION

Freeland Sports Zone Community Hall,
5690 Midland Rd. (M47), Freeland, MI 48623

TRACT DESCRIPTIONS

Tract 1: 52± ac 50.8 FSA acres tillable, approx. 420 ft. frontage on Geddes Rd. and 1580 ft. on Kennely Rd. Prime high productive land.

Tract 2: 77.5± ac 59.3 FSA tillable acres, approx. 770 ft. frontage on Geddes Rd. Prime high productive land, approx. 12 acres wooded.

Tract 3: 46.2± ac 43.23 FSA acres tillable, approx. 305 ft. frontage on Frost Rd. Prime high productive land.

Tract 4: 10± ac 8.06 FSA tillable acres, approx. 1010 ft. frontage on Frost Rd. Combine with Tract 3 and make 51.25 FSA tillable acres.

Tract 5: 78.5± ac 66.6 FSA tillable acres, approx. 940 ft. frontage on Tittabawassee Rd., approx. 10 acres wooded, prime high productive land.

Tract 6: 40± ac 37.04 FSA tillable acres, approx. 1320 ft. frontage on Dice Rd. and 1320 ft. frontage on N. Orr Rd. Prime high productive land.

Tract 7: 18.4± ac 16.94 FSA tillable acres, approx. 640 ft. frontage on Pruess Rd. Prime high productive land with lease income from Tri City Airport tracking antenna.

AREA MAP

TRACT MAP(S)

Tract map - 323+/- Acres Offered in 7 Tracts with 282+/- FSA Tillable Acres

SOIL INFORMATION

Soil map - 323+/- Acres Offered in 7 Tracts with 282+/- FSA Tillable Acres

AREA MAP(S)

Area map - 323+/- Acres Offered in 7 Tracts with 282+/- FSA Tillable Acres

Terms & Conditions

PROCEDURE: The property will be offered in 7 individual tracts and as a total 323+/- acres.

DOWN PAYMENT: Ten percent (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 cash, 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 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 owners title insurance policy in the amount of the purchase price.

CLOSING: The balance of the purchase price is due at closing, which shall take place within 15 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession of land at closing. With Tenants right to 2011 crops.

REAL ESTATE TAXES: Seller shall assume 2011 taxes.

PA116: PA116 is set to expire December 31, 2011.

APPROVALS: Sale and closing shall be contingent upon approval by Thomas, Tittabawassee, and Richland Townships and the proposed land division and compliance with Public Act 591, as to all parcels sold. All real estate is being sold subject to any existing easements and right-of-ways of record and without grants of further division rights under Public Act 591.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

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 the survey expense 50:50.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER & 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 questions 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.