AUCTION IS OVER

TOTAL SOLD: $728,000

Tract(s): 1-4

@ $728,000

($1,798/acre)

Own property nearby? These are real results from this sale, not estimates. Ask RD Schrader, who managed this auction, what your property would bring in today's market. There is no obligation.

Ask about my property or call 800-451-2709

• 405+/- Acres offered in 4 Tracts • Great 4 Bedroom Home • Centrally located in the middle of Tennessee • Includes home, workshop, hay barn, water wells & more • Land includes cleared & seeded pasture ground with water wells • 13+/- Miles East of McMinnville, TN on Hwy 8 • 6+/- miles West of the intersection of new Hwy. 111 & Hwy. 8

Auction Info Book

OPEN HOUSE/INSPECTION DATES

September 3 from 10 AM to 2 PM September 22 from 2 PM to 6 PM
Meet an Auction Representative at the Buildings on Tract 1 for More Information

PROPERTY LOCATION

18988 Highway 8, McMinnville, TN

PROPERTY DESCRIPTION

405+/- acres of pasture/farm land, all centrally placed in the middle of Tennessee. Located in Van Buren County, the heart of the nursery capital of the world.

Contains exquisite home, workshop, hay barn, commodity building, sorting pens, working chute with sort and crowd pen, good fences, and several water wells.

Located 13+/- miles east of McMinnville, Tennessee on Hwy 8; 6+/- miles West of the intersection of new Hwy 111 and Hwy 8.

Do not miss this once-in-a-lifetime opportunity to own plentiful land and a beautiful home, all in one!

TRACT DESCRIPTIONS

Tract 1: 63± ac with 2,232 sq. ft., 4-bedroom, 3-bath home (note: home has been set up to use solar power). Home also has large 2-car attached garage, 40 ft.x60 ft. shop building with 15 ft. lean-to, 35 ft.x100 ft. hay barn, 30 ft.x60 ft. commodity barn, sorting pens and cattle chute. This tract is cleared and seeded. It also features a 2+/- acre pond, all with frontage on Hwy 8.

Tract 2: 71± ac cleared and seeded pasture ground with 35 ft.x100 ft. hay barn and frontage on Hwy 8.

Tract 3: 110± ac cleared and seeded pasture ground with water wells and 50 ft. driveway to Hwy 8.

Tract 4: 161± ac mostly cleared and partially seeded pasture ground with water wells and 50 ft. driveway to Hwy 8.

AREA MAP

TRACT MAP(S)

Tract map - REAL ESTATE AUCTION - 405+/- ACRES OFFERED IN 4 TRACTS IN VAN BUREN COUNTY, TENNESSEE

AREA MAP(S)

Area map - REAL ESTATE AUCTION - 405+/- ACRES OFFERED IN 4 TRACTS IN VAN BUREN COUNTY, TENNESSEE

BIDDING PROCEDURE: All tracts will be offered individually, in any combination and as a whole unit. Bidding on individual tracts and all combinations will compete until the end of the auction. The final bids are subject to Sellers acceptance or rejection.

PURCHASE CONTRACT: Immediately following the close of bidding, each high bidder will sign a purchase contract in the form provided in the bidder packets. All information contained in this sale brochure and other marketing materials is subject to the terms and conditions contained in the written purchase contract. Seller shall not be bound by any statement, promise or inducement that is not contained or incorporated in the written purchase contract.

BUYERS PREMIUM: The purchase price will be the bid amount plus a 4% buyers premium.

PAYMENT: 10% of the purchase price will be due as a down payment on the day of auction, with the balance due 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.

CLOSING: Closing will be on or before October 26, 2016 or as soon as possible thereafter upon completion of the survey (if applicable), the Final Title Commitment and Sellers closing documents.

POSSESSION: Possession will be delivered at closing.

REAL ESTATE TAXES: Real estate taxes will be prorated to the date of closing.

DEED: The property will be conveyed by warranty deed, free and clear of liens but otherwise subject to all roads, easements, matters of record and other permitted exceptions described in the purchase contract.

EVIDENCE OF TITLE: Preliminary title insurance schedules will be available for review prior to the auction. At closing, Seller shall furnish a standard owners title insurance policy in the amount of the purchase price at Sellers expense.

MINERALS: Seller is not reserving any minerals. However, no warranty or representation is made as to the existence of any minerals or the extent of Sellers interest therein.

SURVEY: A new survey shall be obtained only if (i) necessary to record the conveyance or (ii) otherwise deemed appropriate in Sellers sole discretion. If a new survey is obtained, the survey will be ordered by Auction Company and will be sufficient for recording the conveyance, but the type of survey shall otherwise be determined solely by Seller. Survey costs will be shared equally (50:50) by Seller and Buyer. The purchase price will be adjusted to reflect any difference between advertised and surveyed acres except with respect to a purchase that includes substantial improvements.

TRACT MAPS; ACRES: Tract maps and stated acres are approximations based on county parcel data, current legal descriptions and/or aerial mapping and are not provided as survey products.

PROPERTY INSPECTION: Inspection dates have been scheduled and will be staffed with auction personnel. Seller and Auction Company disclaim any and all responsibility for the safety of prospective bidders and other persons during any physical inspection of the property. No person shall be deemed an invitee by virtue of the property being offered for sale.

THIS PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in this brochure and other marketing materials is provided subject to bidders independent verification. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All sketches and dimensions are approximate.

AGENCY: Schrader Real Estate and Auction Company, Inc., McLemore Auction Company, LLC and their collective representatives are exclusively the agents of Seller.

CONDUCT OF AUCTION: The conduct of the auction and increments of bidding will be at the direction and discretion of the auctioneer. Seller and its agents reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc. All decisions of the auctioneer at the auction are final.

CHANGES: Please arrive prior to scheduled auction time to review any changes or additions to the property information. AUCTION DAY ANNOUNCEMENTS WILL TAKE PRECEDENCE OVER THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.

SELLER: Ohio Decorative Products, Inc.