Saturday, November 21,2009 10:00 AM  thru  12:00 PM

Tracts 1 & 2 located 6 miles east of Frankfort, IN on SR28 to the intersection of SR28 & SR29, then north on SR29 6.5 miles to CR600N, then east through Forest, IN 7.25 miles to CR1330E, then south 1 mile, road curves east, Tract 1 located on north side of road and Tract 2 is 1/4 mile east along CR450N and CR1350E. Tract 3,4, & 5, located 6 miles east of Frankfort, IN on SR28 to the intersection of SR28 & SR29, then north on SR29 5.5 miles to CR500N, then east to CR800E, then south 1/2 mile to tracts on east and west side of CR800E.

Clinton County Fairgrounds at the south edge of Frankfort, IN at the 4-H Community Building, 1701 S Jackson Street.

Tract 1: 48+/- acres of tillable land consisting of Miami-Crosby, Starks & Treaty. Road frontage on north side of tract on CR450N and on west side of tract on CR1350E.
Tract 2: 32+/- acres of tillable land with mostly Patton soils. Road frontage along the western edge of tract on CR1330E and southern side of tract along CR450N.
Tract 3: 56.5+/- acres of mostly tillable land with Cyclone, Miami Crosby, Starks & Fincastle soils. Road frontage along the western edge of tract on CR800E.
Tract 4: 65.5+/- acres of tillable land with Cyclone, Fincastle-Crosby & Starks soils. Road frontage along the eastern edge of tract on CR800E.
Tract 5: 10+/- acres of timber, small clearing on NW corner, nice mature timber, excellent potential building site and road frontage along CR800E.

2007 real estate taxes due in 2008 were $3,154.64.

PROCEDURE: The property will be offered in 5 individual tracts, any combination of tracts and as a total 212+/- acre unit. There will be open bidding on all tracts and combinations of tracts during the auction as determined by the Auctioneer. The property will be sold in the manner resulting in the highest total selling price.
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: Seller will convey with Warranty Deed(s).
CLOSING: Closing shall take place 30 days after the day of the auction, or as soon thereafter as applicable closing documents are completed by Seller.
POSSESSION: Possession is at closing subject to the tenants rights to harvest the 2009 crop.
REAL ESTATE TAXES: Seller shall pay all 2009 taxes due 2010. Buyer shall assume 2010 taxes due in 2011.
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. Solely the Seller shall determine the need for a new survey. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. Combination purchases will receive a perimeter survey only. 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 seller.
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.