AUCTION IS OVER

• Beautiful 3 Bedroom Home & Buildings • 85+/- Tillable Acres • Wooded Building Sites • 15+/- Miles North of Ft. Wayne

OPEN HOUSE/INSPECTION DATES

Meet a Schrader Representative at the home on
Sunday, February 26, 2-4pm
Tuesday, March 6, 5-7pm
Sunday, March 11, 2-4 pm
or call office to make an appointment!s

PROPERTY LOCATION

6795 E. 350 S., Swan Township, LaOtto, IN
DIRECTIONS: From Ft. Wayne, IN, take Hwy. 3 north to LaOtto - Old Hwy. 3 to County Line Rd, go west on County Line Rd. 5.5 miles to CR 700 E., go north on 700 E. 2.5 miles to farm.

AUCTION LOCATION

LaOtto Fire Station, LaOtto, IN
Located just west of old Hwy 3 on SR 205
(former LaOtto Elementary School)

TRACT DESCRIPTIONS

Tract 1: 36± ac Tillable Acres! This tract has over 500 ft. of road frontage. The terrain slopes up to a large elevated crest before sloping downward in the back. Soils are mostly Morley silt loam and with some Pewamo silty clay loam in the front and some Blount silt loams throughout. There are two water ways on the property, one in the southeast corner and one behind tract 2. Good productive land with the potential of a very scenic elevated walk out building site. Last years corn yield was 158 bushel per acre during a drought period.

Tract 2: 2.5± ac Wooded Site! This tract has over 300 ft. of road frontage, and it too slopes upward from the road. Soils on this tract are Morley silt loam. There is a mixture of maturing hardwoods on this tract. A very scenic potential building site!!

Tract 3: 38± ac Tillable Acres! This tract has nearly 1,000 ft. of road frontage and lies across the back of Tracts 4, 5, and 6. The soils on the eastern part of this tract are Morley silty clay, the northwestern portion is drained Houghton muck. There has been tiling done to drain this tract. There is high tension fence along the entire east border and barbed wire fence along the west and north. Bean yields on this tract were 49 bushel per acre for 2011.

Tract 4: 11± ac Tillable Acres On The Corner! This tract has over 500 ft. of road frontage along CR 700 and over 800 ft. of frontage along C.R. 350 S. This tract is mostly Blount silt loam soils. It has high tension fence along the south and east borders with a large gate at the corner. Combine this tract with Tract 5 for excellent pasture or hay.

Tract 5: 8.5± ac Remodeled Country 2 Story Home With Excellent Outbuildings & Pastures! The home features 3 bedrooms, 2 full baths, and a gorgeous primitive style country decor kitchen and partial finished basement. The kitchen offers a hearth room with woodburning stove, a very large harvest table eating area plus a bump out breakfast bar area. There is a large utility room with full bath. 3 bedrooms are upstairs with the main bedroom having a jet tub and toilet plus double closets. The basement is partially finished with mini kitchen, bar and cabinets. The home boasts a wrap around porch to view the entire farm from its vantage point. The home is heated by a Geothermal furnace and has Central Air. The plumbing and electrical are updated. Updates include 10 year replacement windows, insulation and siding, and new Aquatec water softener. The outbuildings include a newer 30 x 32 garage with overhead doors, a 40 x 50 bank barn with tramp shed and stall area and hay storage. There is also a heated shop building with storage and then a 40 x 60 pole barn. There are horse run-ins and fenced pasture. Additional storage and entertainment outbuildings and bins! Many amenities too numerous to list!!

Tract 6: 2.5± ac Wooded Building Site! This site offers an elevated potential building site overlooking the scenic view of the back of the farm. There is over 200 ft. of road frontage along this tract. Combine Tracts 5 & 6 for an approximately 11 acre awesome setting for a 4-H family or hobby farm!!

AREA MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts, and as a total 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.

DOWN PAYMENT: TRACT 5 - $5000 down payment on the day of auction with the balance in cash at closing. Other Tracts and Combination with Tract 5 - 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. Seller reserves the right to reject any and all bids.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide a 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 insured closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession on day of closing, immediately following the closing.

REAL ESTATE TAXES: Seller shall pay 2011 real estate taxes due in 2012. Buyer shall pay all taxes due thereafter.

ACREAGE: All tract acreage, 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 the tract divisions in this auction create new boundaries. 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 Sellers option and sufficient for providing title insurance. Combination purchase will receive a perimeter survey only.

PERIMETER DRAIN TILE EASEMENT: Easement access will be provided over tracts in this property for perimeter drain tile outlets if perimeter drain tile outlets beyond each individual tract are required by the Noble County Board of Health.

AGENCY: Schrader Real Estate & Auction Company 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. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the 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 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.

Rodenbeck_Brochure.pdf

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