AUCTION IS OVER

• Productive Tillable Land • Great Woods for Hunting • Potential Building Sites • Tracts from 4 Acres to 41 Acres • 1/2 Mile from SR 9 • 1.5 Miles North of US 33 in Merriam • 6+/- Miles South of Albion • 20+/- Miles Northwest of Ft. Wayne

OPEN HOUSE/INSPECTION DATES

Tuesday, August 31st from 4-6pm
Thursday, September 9 from 4-6pm
Meet a Schrader Representative
at the Entrance to Tract 2.

PROPERTY LOCATION

From the intersection of SR 9 and CR 300 S, 2+/- Miles north of Merriam, travel west on CR 300 S 1/2 mile to the southeast corner of the property.

AUCTION LOCATION

At Green Center Community Building. From the intersection of SR 9 and HWY 33 at Merriam, travel north on SR 9 approx. 2 miles to CR 300S. Turn east on CR 300S and travel 3 miles to Green Center Community Building on the south side of the road.

PROPERTY DESCRIPTION

Beautiful country setting with productive tillable land and a mature woods with great trails. 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 seconds from SR 9 and HWY 33 - just a short drive to Fort Wayne, Columbia City or Albion.

TRACT DESCRIPTIONS

Tract 1: 24± ac mostly tillable with frontage on CR 50 W. Primarily Pewamo and Morley soils.

Tract 2: 21± ac mature woods with hardwoods. This tract includes well maintained trails throughout as well as a drive out to the grassy area near CR 50 W. 150+/- feet of frontage on CR 50 W. Great hunting in this woods. Be ready October 1st with extra down payment!

Tract 3: 4± ac potential building site with frontage on CR 50 W.

Tract 4: 4± ac potential building site with frontage on CR 50 W and CR 250 S. Bid on this tract or combine Tracts 3 and 4 for an 8+/- acre mini-farm.

Tract 5: 20± ac mostly tillable tract consisting of primarily Morley and Fox soils. Frontage on CR 250 S.

Tract 6: 41± ac mostly tillable tract with frontage on CR 250 S. Primarily Milford, Rawson and Morley soils.

AREA MAP

TRACT MAP(S)

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 6 individual tracts, combinations of tracts and as a total 114-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. Early possession of Tract 2 for hunting purposes is available with a 20% down payment. 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. DEED RESTRICTIONS: The following deed restrictions shall apply if the property sells in multiple tracts: All homes must be built to the Indiana 1 & 2 Family Dwelling Code. (This would exclude all mobile homes and typical doublewide modular homes.) The minimum square footage (exclusive of garages, basements and porches) on single story homes shall be 1,400 square feet. The minimum square footage on 1-1/2 story homes shall be 1,600 square feet. The minimum square footage on 2 story homes shall be 1,800 square feet. All homes must have no less than a 5/12 roof pitch and no less than a two-car, attached garage.

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

114 Acres Offered in 6 Tracts