AUCTION IS OVER

TOTAL SOLD: $2,652,000

Tract(s): 1-5

@ $2,652,000

($12,028/acre)

• 209.8+/- Total Tillable Acres • Top Quality Productive Clinton County Farmland • Working Farm Property with Grain Bins, Outbuildings, Shop and Home site • 95% Tillable Farm, including 100 Acres of Drummer Soils

OPEN HOUSE/INSPECTION DATES

Saturday, October 20 from 9-11 am Saturday, November 10 from 9-11am
Tuesday, November 20 (Sale Day) 4-5 pm

PROPERTY LOCATION

South edge of Frankfort on SR 39 approximately 2 miles to Antioch, take SR 38E towards Kirklin approximately 2 miles. Turn south on S CR 200E, travel 2 miles to E CR 600S, turn east and farm is on both sides of road. From Kirklin travel 4 miles west on SR 38E to S CR 400E. Turn south and travel 1 mile to E CR 600S. Turn west and farm is on both sides of road. Tract 2 is situated off E CR 650S immediately south of main farm, look for Schrader Tract sign.

AUCTION LOCATION

Clinton County 4-H Building, 1701 South Jackson Street, Frankfort, IN 46041.

TRACT DESCRIPTIONS

Tract 1: 39.9± ac -38.63 tillable acres with 1200 ft. of road frontage on CR 600S. Predominant soils: Drummer & Fincastle soils.

Tract 2: 40± ac - 38.27 tillable acres with 1200 ft. of frontage on CR 650S. Predominant soils: Drummer, Cyclone & Fincastle-Crosby soils.

Tract 3: 60± ac - 54.22 tillable acres with 1900 ft. of frontage along CR 600S. Predominant soils: Drummer, Fincastle & Patton soils. Four bins with 27,000 bu. total capacity, two with stirrators and new dryers and two with fans only, updated farmhouse (2240 sq. ft.), pasture area, heated work shop (38x48) and three storage buildings (32x27, 48x22, and 32x62).

Tract 4: 41± ac - 40.53 tillable acres with 1200 ft. of road frontage on CR 600S. Predominant soils: Drummer & Fincastle soils.

Tract 5: 40± ac - 38.15 tillable acres with 1200 ft. of road frontage on CR 600S & 1000 ft. of road frontage along CR 250E. Predominant soils: Drummer, Fincastle & Patton soils.

AREA MAP

TRACT MAP(S)

SOIL INFORMATION

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: This property will be offered in 5 individual tracts, combination of tracts, or as a total 220.99 +/- acre unit. The property will be sold in the manner resulting in the highest total sale price.

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.

DOWN PAYMENT: 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 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.

BUYERS PREMIUM: A 2% Buyers Premium will be added to the high bid(s) to determine the Contract Purchase Price.

CLOSING: The balance of the purchase price is due at closing, which shall take place within 10 days from delivery of marketable title. Closing on or about December 21, 2012 is anticipated. Closing costs for an administered closing shall be shared 50:50 between Buyer(s) and Sellers.

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

POSSESSION: Possession shall be given at closing, subject to Tenants Rights to harvest the existing crop. Possession of the improvements will be immediately upon closing. Grain bin possession will be July 1, 2013.

REAL ESTATE TAXES: Buyer shall assume the 2013 real estate taxes due in 2014. Buyer shall assume any Ditch Assessments due in 2013 and thereafter.

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on aerial photos and the current legal description.

FSA INFORMATION: The Clinton County FSA Office shall make all acreage and base yield determinations.

EASEMENTS: Sale of the property is subject to any and all easements of record.

MINERAL RIGHTS: The sale shall include 100% of the mineral rights owned by the Seller, if any.

SURVEY: Current legal descriptions shall be used to convey the property. Any need for a new survey will be determined solely by the Sellers. The type of survey performed shall be at the Sellers option 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. The adjustments will be made only on tracts or combination of tracts that do not contain improvements.

AGENCY: Schrader Real Estate and 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 Sellers or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduction 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 Sellers or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Sellers 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. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE.

Auction Brochure

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