Monday, November 23,2009 03:30 PM  thru  06:30 PM

From the intersection of CR 400 E and HWY 30, 2 miles east of Columbia City, travel north on CR 400 E 1/4 miles to Lincolnway. Turn east on Lincolnway and travel 1/8 mile to the property on the north side of the road.

At the Whitley County 4-H Community Center, 680 W Squawbuck Rd. From the intersection of HWY 30 and Lincolnway, west of Columbia City, travel southeast on Lincolnway 3/4 mile to Squawbuck Rd, turn left (east) on Squawbuck Rd and the Community Center is on the left.

Unique country setting with trees, ponds, and great location close to Columbia City and Fort Wayne. In the Schrader Method of Auction, you can bid on a tract, combination of tracts or the whole property in the manner that fits your needs. Just seconds from HWY 30 - just a short drive to Columbia City, Warsaw, or Fort Wayne.
TRACT 1: 50+/- acres mostly tillable land. Primarily Blount, Morley, and Pewamo soils. Approximately 335+/- feet frontage on Lincolnway.
TRACT 2: 20+/- acres including the beautiful, secluded 5+/- acre pond and surrounding woodland. Great bass fishing! Approximately 100 feet of frontage on Lincolnway.
TRACT 3: 3+/- acres with the 3-bedroom, split-level, 3,000+/- sq ft home. A very secluded setting with views of the pond on Tract 2 and rolling pastureland on Tract 4. Consider combining with Tract 2 for a beautiful 23 acre retreat! Approximately 35 feet of frontage on Lincolnway. The driveway on this property provides access to Tract 4 in addition to two other homes.
PROPERTY ADDRESS: 4255 E. Lincolnway, Columbia City, IN 46725.
TRACT 4: 29+/- acres rolling topography with a mixture of row-crop and pasture land including a small pond. Consider the building potential as this tract has wonderful country views in every direction.
TRACT 5: 5+/- acres "swing tract" mostly tillable land. The gravel drive on this property provides easement access to an adjoining home. This tract must be combined with tracts 3 or 4 unless bid on by an adjoining landowner.
TRACT 6: 10+/- acre "swing tract" with a mixture of row-crop and pasture land. Combine with Tracts 1 and 4 to keep the tillable ground together or combine it with Tract 2 for a 30ﾱ acre recreation lovers dream! This tract must be combined with other tracts in this auction providing access unless bid on by an adjoining land owner. City water is available along Lincolnway for future development.

PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts, and as a total 117-acre unit. There will be open bidding on tracts, tract combinations, and the total during the auction as determined by the Auctioneer. Bids on individual tracts and the total property may compete.
DOWN PAYMENT: 10% down payment on the day of auction for bare land tracts. 5% down payment on the day of auction for Tract 3 or any combination of tracts including Tract 3. 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 shall provide Trustee 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 on bare land tracts. Possession of the home on Tract 3 will be within 30 days after closing.
REAL ESTATE TAXES: Buyer will assume taxes due May 2011 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 Bidders 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.
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.