Thursday, October 22,2009 04:00 PM  thru  06:00 PM
Saturday, October 24,2009 09:00 AM  thru  12:00 PM

13313 N CR 975 W, Gaston, IN From the intersection of I-69/SR 28 northwest of Muncie: Travel west on SR 28 approximately 1 mile to County Road 1000W (this is Delaware/Madison County line); turn right (north) and travel approximately 2 miles to CR 800N; turn right (east) and travel 1/2 mile to CR 975W; turn left (north) and travel ﾽ mile to the property on the left.

Gaston Lions Club Building, 7449 W CR 850N, Gaston, IN From the intersection of I-69/SR 28, travel east on SR 28 approximately 3 miles to CR 600W (4-way stop); turn left (north) and travel approximately 2 miles to CR 850N (4-way stop in Gaston); turn right (east) and travel 1.5 miles to the Gaston Lions Club on the right.

Tract 1: 18.3+/- acres All tillable, this productive tract is perfect to add to your existing operation, or consider combining with Tract 3 for a larger holding. Pewamo/Blount soils. 1/4 Mile frontage on CR 850N and about 850 frontage on CR 975W.
Tract 2: 5.0+/- acres Nice older country home in good condition with a working set of outbuildings. Home has 1576 sq. ft., 2-3 bedrooms, enclosed porch, newer roof, thermopane windows, hardwood floors and more. Larger barn is covered with metal and other buildings are in good condition. A great opportunity for that country home you've always wanted. This tract could be purchased separately or combined with Tracts 1 or 3. About 500' frontage on CR 975W.
Tract 3: 9.2+/- acres All tillable "swing" tract with productive Pewamo/Blount soils. This tract must be purchased with another tract that provides road frontage (or by an adjacent landowner). Combine with Tract 1 for maximum tillable acreage or with Tract 2 for a nice mini farm.
Tract 4: 7.5+/- acres This all wooded tract is perfect for hunting, recreation or your secluded log cabin home. Accessed via 30' of owned access on CR850N. Don't miss this unique opportunity to purchase wooded acreage at auction.

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts and as a total 40 acre 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: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cash, 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: Personal Representative's Deed.
CLOSING: The balance of the purchase price is due at closing, which will occur within 15 days of marketable title. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.
POSSESSION: Possession is at closing. Buyer will have 2010 crop rights.
FSA INFORMATION: Corn Base: 13.6 acres. CC yield of 133. Soy Base: 16.2 acres. CC yield of 36.
REAL ESTATE TAXES: Buyer(s) will assume all taxes due May 2011 and thereafter. 2008/2009 Taxes were $694.02 on the total acreage.
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. Combination purchases will receive a perimeter survey only.
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.